# EDGAR Filing Document

**Accession Number:** 0001562818
**File Stem:** 0001752724-23-002197
**Filing Date:** 2023-1
**Character Count:** 1054222
**Document Hash:** 5b5c3ede4e7f3c63f1bbf3ada2e1467c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-002197.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001752724-23-002197

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20220731

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**PERIOD START**: 20221031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Multi-Sector Income Trust
- **CENTRAL INDEX KEY:** 0001562818
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22774
- **FILM NUMBER:** 23530830

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809-3700
- **BUSINESS PHONE:** 800-882-0052

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809-3700

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Fixed Income Strategic Opportunities
- **DATE OF NAME CHANGE:** 20121126

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Asset-Backed Securities** |  |  |  |
|  Ajax Mortgage Loan Trust, Series 2017-D, Class B, 0.00%, 12/25/57<sup>(a)(b)(c)</sup>  | USD | 20 | $18630 |
|  ALM Ltd., Series 2020-1A, Class D, (3 mo. LIBOR US + 6.00%), 8.51%, 10/15/29<sup>(b)(c)</sup>  |  | 287 | 255739 |
|  American Homes 4 Rent Trust, Series 2014-SFR2, Class E, 6.23%, 10/17/36<sup>(c)</sup>  |  | 2000 | 2030171 |
|  AMMC CLO 19 Ltd., Series 2016-1A, Class E, (3 mo. LIBOR US + 7.00%), 9.51%, 10/15/28<sup>(b)(c)</sup>  |  | 1000 | 975779 |
|  Anchorage Capital CLO 5-R Ltd., Series 2014-5RA, Class E, (3 mo. LIBOR US + 5.40%), 7.91%, 01/15/30<sup>(b)(c)</sup>  |  | 860 | 791495 |
|  Anchorage Capital CLO 7 Ltd., Series 2015-7A, Class D1R2, (3 mo. LIBOR US + 3.50%), 6.29%, 01/28/31<sup>(b)(c)</sup>  |  | 250 | 235711 |
|  Argent Securities Trust, Series 2006-W5, Class A1A, (1 mo. LIBOR US + 0.30%), 2.56%, 06/25/36<sup>(b)</sup>  |  | 4349 | 2966714 |
|  Bain Capital Credit CLO Ltd., Series 2020-2A, Class DR, (3 mo. LIBOR US + 3.30%), 6.04%, 07/19/34<sup>(b)(c)</sup>  |  | 250 | 230499 |
|  Bear Stearns Asset-Backed Securities I Trust, Series 2006-HE9, Class 2A, (1 mo. LIBOR US + 0.14%), 2.40%, 11/25/36<sup>(b)</sup>  |  | 1224 | 1181730 |
|  Benefit Street Partners CLO XX Ltd., Series 2020-20A, Class CR, (3 mo. LIBOR US + 2.05%), 4.56%, 07/15/34<sup>(b)(c)</sup>  |  | 250 | 233975 |
|  Brookside Mill CLO Ltd., Series 2013-1A, Class DR, (3 mo. LIBOR US + 2.65%), 5.39%, 01/17/28<sup>(b)(c)</sup>  |  | 250 | 240764 |
|  Carlyle U.S. CLO Ltd., Class A2, (3 mo. LIBOR US + 1.80%), 4.51%, 01/20/31<sup>(b)(c)</sup>  |  | 250 | 237060 |
|  Carrington Mortgage Loan Trust<sup>(b)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE2, Class A2, (1 mo. LIBOR US + 0.12%), 2.38%, 10/25/36 |  | 3091 | 2552657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE2, Class A5, (1 mo. LIBOR US + 0.08%), 2.34%, 03/25/35 |  | 6367 | 5241873 |
|  CarVal CLO III Ltd., Series 2019-2A, Class E, (3 mo. LIBOR US + 6.44%), 9.15%, 07/20/32<sup>(b)(c)</sup>  |  | 500 | 445475 |
|  C-BASS Trust, Series 2006-CB7, Class A4,<br>(1 mo. LIBOR US + 0.32%), 2.58%, 10/25/36<sup>(b)</sup>  |  | 4442 | 3090706 |
|  CIFC Funding Ltd.<sup>(b)(c)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo. LIBOR US + 1.70%), 4.43%, 10/21/31 |  | 750 | 712843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class DR, (3 mo. LIBOR US + 3.10%), 5.61%, 07/15/36 |  | 500 | 466885 |
|  Citigroup Mortgage Loan Trust, Series 2006-FX1, Class A7, 5.78%, 10/25/36 |  | 350 | 261903 |
|  Clear Creek CLO, Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.95%), 5.66%, 10/20/30<sup>(b)(c)</sup>  |  | 250 | 230870 |
|  Countrywide Asset-Backed Certificates, Series 2006-26, Class 1A, (1 mo. LIBOR US + 0.14%), 2.40%, 06/25/37<sup>(b)</sup>  |  | 562 | 514626 |
|  CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 1A, (1 mo. LIBOR US + 0.14%), 2.14%, 01/15/37<sup>(b)</sup>  |  | 500 | 457678 |
|  Elevation CLO Ltd., Series 2021-12A, Class E, (3 mo. LIBOR US + 7.27%), 9.98%, 04/20/32<sup>(b)(c)</sup>  |  | 250 | 210734 |
|  Elmwood CLO IV Ltd., Series 2020-1A, Class B, (3 mo. LIBOR US + 1.70%), 4.21%, 04/15/33<sup>(b)(c)</sup>  |  | 250 | 236462 |
|  FirstKey Homes Trust, Series 2022-SFR1, Class E1, 5.00%, 05/17/39<sup>(c)</sup>  |  | 3800 | 3586564 |
|  Fremont Home Loan Trust<sup>(b)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A, Class 2A3, (1 mo. LIBOR US + 0.32%), 2.58%, 05/25/36 |  | 4286 | 2635777 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
|  Fremont Home Loan Trust<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-D, Class 2A3, (1 mo. LIBOR US + 0.15%), 2.41%, 11/25/36 | USD | 6439 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504969 |
|  Galaxy XXI CLO Ltd., Series 2015-21A, Class ER, (3 mo. LIBOR US + 5.25%), 7.96%, 04/20/31<sup>(b)(c)</sup>  |  | 500 | 425487 |
|  Generate CLO 2 Ltd., Series 2015-1A, Class ER, (3 mo. LIBOR US + 5.65%), 8.41%, 01/22/31<sup>(b)(c)</sup>  |  | 250 | 214762 |
|  Goldentree Loan Management U.S. CLO 5 Ltd., Series 2019-5A, Class BR, (3 mo. LIBOR US + 1.55%), 4.26%, 10/20/32<sup>(b)(c)</sup>  |  | 250 | 236646 |
|  Gulf Stream Meridian 1 Ltd., Series 2020-IA, Class E, (3 mo. LIBOR US + 6.45%), 8.96%, 04/15/33<sup>(b)(c)</sup>  |  | 500 | 449186 |
|  Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-E, Class 2A3, (1 mo. LIBOR US + 0.17%), 2.43%, 04/25/37<sup>(b)</sup>  |  | 3574 | 2541045 |
|  HPS Loan Management Ltd., Series 8A-2016, Class ER, (3 mo. LIBOR US + 5.50%), 8.21%, 07/20/30<sup>(b)(c)</sup>  |  | 1000 | 825449 |
|  Long Beach Mortgage Loan Trust, Series 2006-7, Class 2A3, (1 mo. LIBOR US + 0.32%), 2.58%, 08/25/36<sup>(b)</sup>  |  | 5231 | 2374749 |
|  Madison Park Funding XXIX Ltd., Series 2018-29A, Class E, (3 mo. LIBOR US + 5.70%), 8.44%, 10/18/30<sup>(b)(c)</sup>  |  | 500 | 441558 |
|  Mastr Asset-Backed Securities Trust, Series 2006- HE2, Class A3, (1 mo. LIBOR US + 0.30%), 2.56%, 06/25/36<sup>(b)</sup>  |  | 7422 | 3117588 |
|  Neuberger Berman CLO XX Ltd., Series 2015-20A, Class ERR, (3 mo. LIBOR US + 6.50%), 9.01%, 07/15/34<sup>(b)(c)</sup>  |  | 710 | 628789 |
|  Neuberger Berman Loan Advisers CLO 37 Ltd., Series 2020-37A, Class CR, (3 mo. LIBOR US + 1.80%), 4.51%, 07/20/31<sup>(b)(c)</sup>  |  | 400 | 379392 |
|  Neuberger Berman Loan Advisers CLO Ltd., Series 2021- 46A, Class B, (3 mo. LIBOR US + 1.65%), 4.36%, 01/20/36<sup>(b)(c)</sup>  |  | 250 | 233801 |
|  Octagon Investment Partners 31 LLC, Series 2017-1A, Class E, (3 mo. LIBOR US + 6.30%), 9.01%, 07/20/30<sup>(b)(c)</sup>  |  | 500 | 442759 |
|  Octagon Investment Partners XVII Ltd., Series 2013-1A, Class BR2, (3 mo. LIBOR US + 1.40%), 4.18%, 01/25/31<sup>(b)(c)</sup>  |  | 250 | 235533 |
|  Octagon Investment Partners XXII Ltd., Series 2014-1A, Class DRR, (3 mo. LIBOR US + 2.75%), 5.51%, 01/22/30<sup>(b)(c)</sup>  |  | 500 | 465690 |
|  OZLM XXI Ltd., Series 2017-21A, Class D, (3 mo. LIBOR US + 5.54%), 8.25%, 01/20/31<sup>(b)(c)</sup>  |  | 250 | 213171 |
|  Palmer Square Loan Funding Ltd., Series 2019-3A, Class B, (3 mo. LIBOR US + 2.10%), 3.58%, 08/20/27<sup>(b)(c)</sup>  |  | 750 | 734835 |
|  Rad CLO 6 Ltd., Series 2019-6A, Class E,<br>(3 mo. LIBOR US + 7.53%), 10.24%, 01/20/33<sup>(b)(c)</sup>  |  | 500 | 468107 |
|  Regional Management Issuance Trust, 3.88%, 10/17/33<sup>(a)</sup>  |  | 1110 | 1034295 |
|  Renaissance Home Equity Loan Trust, Series 2007-3, Class AF2, 7.00%, 09/25/37 |  | 3649 | 1759595 |
|  Rockford Tower CLO Ltd., Series 2017-2A, Class DR, (3 mo. LIBOR US + 2.85%), 5.36%, 10/15/29<sup>(b)(c)</sup>  |  | 500 | 473389 |
|  Saxon Asset Securities Trust, Series 2007-3, Class 2A3, (1 mo. LIBOR US + 0.40%), 2.66%, 09/25/47<sup>(b)</sup>  |  | 3886 | 3663071 |

---

S C H E D U L E O F I N V E S T M E N T S 1

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* |  | *Value* |
|  **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
|  Scholar Funding Trust, Series 2013-A, Class R, 0.00%, 01/30/45<sup>(a)</sup>  | USD |  | <sup>(d)</sup> $| 1089883 |
|  TICP CLO VII Ltd., Series 2017-7A, Class ER, (3 mo. LIBOR US + 7.05%), 9.56%, 04/15/33<sup>(b)(c)</sup>  |  | 250 |  | 226591 |
|  TICP CLO VIII Ltd., Series 2017-8A, Class A2R, (3 mo. LIBOR US + 1.70%), 4.41%, 10/20/34<sup>(b)(c)</sup>  |  | 250 |  | 235029 |
|  Trestles CLO IV Ltd., 4.43%, 07/21/34 |  | 1000 |  | 931013 |
|  Trestles CLO Ltd., Series 2017-1A, Class CR, (3 mo. LIBOR US + 2.90%), 5.68%, 04/25/32<sup>(b)(c)</sup>  |  | 250 |  | 233763 |
|  Unique Pub Finance Co. PLC<sup>(e)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series M, 7.40%, 03/28/24 | GBP | 1951 |  | 2399412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series N, 6.46%, 03/30/32 |  | 50 |  | 69678 |
|  WaMu Asset-Backed Certificates Trust, Series 2007- HE3, Class 2A3, (1 mo. LIBOR US + 0.24%), 2.50%, 05/25/37<sup>(b)</sup>  | USD | 6009 |  | 5187011 |
|  Whetstone Park CLO Ltd., 4.31%, 01/20/35 |  | 275 |  | 257128 |
|  **Total Asset-Backed Securities — 11.1%<br>(Cost: $66,919,084)** | **Total Asset-Backed Securities — 11.1%<br>(Cost: $66,919,084)** | **Total Asset-Backed Securities — 11.1%<br>(Cost: $66,919,084)** |  | 64536694 |
|  |  | *Shares* |  |  |
|  **Common Stocks** |  |  |  |  |
|  **Aerospace & Defense — 0.4%** |  |  |  |  |
|  Raytheon Technologies Corp. |  | 25650 |  | 2390836 |
|  **Building Products — 0.2%** |  |  |  |  |
|  Carrier Global Corp. |  | 25650 |  | 1039595 |
|  **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** |
|  Liberty Global PLC, Class A<sup>(f)</sup>  |  | 247 |  | 5375 |
|  **Machinery — 0.2%** |  |  |  |  |
|  Otis Worldwide Corp. |  | 12825 |  | 1002530 |
|  **Total Common Stocks — 0.8%<br>(Cost: $2,975,709)** |  |  |  | 4438336 |
|  |  | *Par<br>(000)* |  |  |
|  **Corporate Bonds** |  |  |  |  |
|  **Aerospace & Defense — 2.9%** |  |  |  |  |
|  Amsted Industries, Inc., 5.63%, 07/01/27<sup>(c)</sup>  | USD | 185 |  | 179596 |
|  Bombardier, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/25 |  | 50 |  | 48750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 06/15/26 |  | 907 |  | 842059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/15/27 |  | 781 |  | 722425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/28 |  | 683 |  | 589292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 05/01/34 |  | 100 |  | 86500 |
|  Embraer Netherlands Finance BV, 6.95%, 01/17/28<sup>(c)</sup>  |  | 269 |  | 269336 |
|  F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26<sup>(c)</sup>  |  | 464 |  | 366560 |
|  Howmet Aerospace, Inc., 5.13%, 10/01/24 |  | 2 |  | 2014 |
|  Lockheed Martin Corp., 4.09%, 09/15/52<sup>(g)</sup>  |  | 451 |  | 437206 |
|  Northrop Grumman Corp., 3.85%, 04/15/45 |  | 530 |  | 472294 |
|  Raytheon Technologies Corp., 3.75%, 11/01/46<sup>(g)</sup>  |  | 700 |  | 619864 |
|  Rolls-Royce PLC, 5.75%, 10/15/27<sup>(c)(g)</sup>  |  | 1545 |  | 1458920 |
|  Spirit AeroSystems, Inc.<sup>(c)</sup>5.50%, 01/15/25 |  | 236 |  | 235087 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Aerospace & Defense (continued)** |  |  |  |
|  Spirit AeroSystems, Inc.<sup>(c)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/25 | USD | 40 | $39844 |
|  TransDigm, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 12/15/25<sup>(c)(g)</sup>  |  | 825 | 854882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/26<sup>(c)(g)</sup>  |  | 7135 | 7169319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/26 |  | 58 | 57710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/27 |  | 134 | 136186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/29 |  | 715 | 643500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/01/29 |  | 382 | 341795 |
|  Triumph Group, Inc., 8.88%, 06/01/24<sup>(c)(g)</sup>  |  | 1055 | 1091260 |
|  |  |  | 16664399 |
| **Airlines — 2.0%** |  |  |  |
|  Air Canada, 3.88%, 08/15/26<sup>(c)</sup>  |  | 401 | 368920 |
|  American Airlines Pass-Through Trust, Series 2013-2, Class A, 4.95%, 07/15/24 |  | 403 | 395129 |
|  American Airlines, Inc., 11.75%, 07/15/25<sup>(c)</sup>  |  | 530 | 588300 |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/20/26 |  | 1006 | 989597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/20/29 |  | 1485 | 1421437 |
|  Avianca Midco 2 Ltd., 9.00%, 12/01/28<sup>(c)</sup>  |  | 304 | 253781 |
|  Azul Investments LLP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/26/24<sup>(e)</sup>  |  | 200 | 134000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/26<sup>(c)</sup>  |  | 230 | 152375 |
|  Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28<sup>(c)</sup>  |  | 98 | 95335 |
|  Deutsche Lufthansa AG<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/11/28 | EUR | 100 | 88284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/14/29 |  | 100 | 83297 |
|  Gol Finance SA, 8.00%, 06/30/26<sup>(c)</sup>  | USD | 200 | 128038 |
|  Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26<sup>(c)</sup>  |  | 317 | 308153 |
|  International Consolidated Airlines Group SA<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/25/25 | EUR | 100 | 91234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/25/29 |  | 100 | 78293 |
|  Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27<sup>(c)(g)</sup>  | USD | 947 | 956966 |
|  United Airlines Pass-Through Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-1, Class A, 3.70%, 12/01/22<sup>(g)</sup>  |  | 3570 | 3549886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class A, 5.88%, 10/15/27<sup>(g)</sup>  |  | 739 | 745280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class B, 4.88%, 07/15/27 |  | 48 | 45337 |
|  United Airlines, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/26<sup>(g)</sup>  |  | 588 | 564480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/15/29 |  | 785 | 723181 |
|  |  |  | 11761303 |
| **Auto Components — 1.2%** |  |  |  |
|  Aptiv PLC, 4.40%, 10/01/46<sup>(g)</sup>  |  | 280 | 229178 |
|  Clarios Global LP/Clarios U.S. Finance Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/26<sup>(e)</sup>  | EUR | 101 | 95588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/26<sup>(c)(g)</sup>  | USD | 1673 | 1683289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 05/15/27<sup>(c)(g)</sup>  |  | 3666 | 3700020 |
|  Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28<sup>(c)</sup>  |  | 436 | 391266 |
|  Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29<sup>(c)</sup>  |  | 142 | 106188 |
|  Faurecia SE<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/15/27 | EUR | 100 | 86874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/28 |  | 100 | 88509 |
|  Goodyear Tire & Rubber Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/29 | USD | 187 | 170544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/30/33 |  | 316 | 277132 |

---

2.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Auto Components (continued)** |  |  |  |
|  IHO Verwaltungs GmbH, (4.63% PIK), 3.88%, 05/15/27<sup>(e)(h)</sup>  | EUR | 100 | $83808 |
|  ZF Finance GmbH<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/21/25 |  | 100 | 95250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/06/27 |  | 100 | 85980 |
|  |  |  | 7093626 |
| **Automobiles — 2.0%** |  |  |  |
|  Allison Transmission, Inc., 5.88%, 06/01/29<sup>(c)</sup>  | USD | 211 | 207667 |
|  Asbury Automotive Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/28 |  | 168 | 153730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/30 |  | 164 | 142988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/32<sup>(c)</sup>  |  | 201 | 175542 |
|  Carvana Co.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/27<sup>(g)</sup>  |  | 371 | 244860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/01/29<sup>(g)</sup>  |  | 286 | 170728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.25%, 05/01/30 |  | 213 | 175126 |
|  Constellation Automotive Financing PLC, 4.88%, 07/15/27<sup>(e)</sup>  | GBP | 100 | 97424 |
|  Ford Motor Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/15/26<sup>(i)(j)</sup>  | USD | 282 | 300330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/12/32 |  | 797 | 665495 |
|  Ford Motor Credit Co. LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/16/25<sup>(g)</sup>  |  | 397 | 395773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/13/25 |  | 200 | 190842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 01/08/26<sup>(g)</sup>  |  | 1250 | 1216644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/10/26 |  | 376 | 341690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/28/27 |  | 519 | 509918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/17/27 |  | 320 | 303584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 11/02/27 |  | 400 | 366620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 02/16/28 |  | 376 | 326187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 05/03/29 |  | 214 | 208049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/13/30<sup>(g)</sup>  |  | 937 | 828231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/17/31 |  | 617 | 523315 |
|  General Motors Co., 6.25%, 10/02/43<sup>(g)</sup>  |  | 2194 | 2158514 |
|  General Motors Financial Co., Inc., 4.25%, 05/15/23<sup>(g)</sup>  |  | 326 | 327672 |
|  Group 1 Automotive, Inc., 4.00%, 08/15/28<sup>(c)</sup>  |  | 59 | 52770 |
|  Jaguar Land Rover Automotive PLC, 4.50%, 07/15/28<sup>(e)</sup>  | EUR | 100 | 76597 |
|  Ken Garff Automotive LLC, 4.88%, 09/15/28<sup>(c)</sup>  | USD | 156 | 128659 |
|  LCM Investments Holdings II LLC, 4.88%, 05/01/29<sup>(c)</sup>  |  | 373 | 318727 |
|  Lithia Motors, Inc., 3.88%, 06/01/29<sup>(c)</sup>  |  | 167 | 148589 |
|  MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(c)</sup>  |  | 228 | 171891 |
|  Penske Automotive Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/25 |  | 104 | 100307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/29 |  | 87 | 78300 |
|  Renault SA, 2.38%, 05/25/26<sup>(e)</sup>  | EUR | 100 | 93914 |
|  Sonic Automotive, Inc., 4.63%, 11/15/29<sup>(c)</sup>  | USD | 76 | 64590 |
|  TML Holdings Pte. Ltd., 4.35%, 06/09/26<sup>(e)</sup>  |  | 200 | 174913 |
|  Wabash National Corp., 4.50%, 10/15/28<sup>(c)</sup>  |  | 281 | 231305 |
|  |  |  | 11671491 |
| **Banks — 1.3%** |  |  |  |
|  Banco Bilbao Vizcaya Argentaria SA, (5 year USD Swap + 3.87%), 6.13%<sup>(b)(g)(k)</sup>  |  | 2000 | 1751458 |
|  Banco BPM SpA, (5 year EUR Swap + 3.17%), 2.88%, 06/29/31<sup>(b)(e)</sup>  | EUR | 100 | 84914 |
|  Banco de Sabadell SA, (5 year EUR Swap + 2.95%), 2.50%, 04/15/31<sup>(b)(e)</sup>  |  | 100 | 85235 |
|  Bangkok Bank PCL, (5 year CMT + 4.73%), 5.00%<sup>(k)</sup>  | USD | 205 | 190560 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Banks (continued)** |  |  |  |
|  BBK BSC, 5.50%, 07/09/24<sup>(e)</sup>  | USD | 289 | $282552 |
|  Chong Hing Bank Ltd., (5 year CMT + 3.86%), 5.70%<sup>(b)(e)(k)</sup>  |  | 250 | 239109 |
|  Commerzbank AG, (5 year EUR Swap + 6.36%), 6.13%<sup>(b)(e)(k)</sup>  | EUR | 200 | 195844 |
|  Grupo Aval Ltd., 4.38%, 02/04/30<sup>(c)</sup>  | USD | 512 | 404480 |
|  Intesa Sanpaolo SpA, 5.02%, 06/26/24<sup>(c)(g)</sup>  |  | 2888 | 2796419 |
|  NBK Tier 1 Ltd., (6 year USD Swap + 2.88%), 3.63%<sup>(b)(c)(k)</sup>  |  | 556 | 500330 |
|  Standard Chartered PLC, (5 year USD ICE Swap + 1.97%), 4.87%, 03/15/33<sup>(b)(c)(g)</sup>  |  | 500 | 475525 |
|  Wells Fargo & Co., Series BB, (5 year CMT + 3.45%), 3.90%<sup>(b)(k)</sup>  |  | 465 | 430706 |
|  |  |  | 7437132 |
| **Beverages — 2.0%** |  |  |  |
|  Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46<sup>(g)</sup>  |  | 2160 | 2175347 |
|  ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27<sup>(c)(g)(h)</sup>  |  | 865 | 654276 |
|  Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/27 |  | 736 | 757160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/01/28 |  | 200 | 185662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/01/29<sup>(g)</sup>  |  | 2668 | 2294480 |
|  Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/26 |  | 295 | 261075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/27 | GBP | 100 | 90901 |
|  Ball Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/25 | USD | 44 | 44528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/30 |  | 46 | 39615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/15/31 |  | 481 | 421476 |
|  Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25<sup>(c)</sup>  |  | 211 | 189702 |
|  Crown Cork & Seal Co., Inc., 7.38%, 12/15/26 |  | 45 | 48589 |
|  Mauser Packaging Solutions Holding Co., 5.50%, 04/15/24<sup>(c)(g)</sup>  |  | 1030 | 1018788 |
|  OI European Group BV, 2.88%, 02/15/25<sup>(e)</sup>  | EUR | 100 | 94809 |
|  Silgan Holdings, Inc., 4.13%, 02/01/28 | USD | 105 | 98437 |
|  Trivium Packaging Finance BV<sup>(c)(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/26 |  | 1189 | 1171165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 08/15/27 |  | 1924 | 1837162 |
|  |  |  | 11383172 |
| **Biotechnology — 0.2%** |  |  |  |
|  Amgen, Inc., 2.80%, 08/15/41 |  | 250 | 198211 |
|  Cidron Aida Finco Sarl, 5.00%, 04/01/28<sup>(e)</sup>  | EUR | 100 | 89920 |
|  Gilead Sciences, Inc., 4.75%, 03/01/46<sup>(g)</sup>  | USD | 700 | 700846 |
|  |  |  | 988977 |
| **Building Materials<sup>(c)</sup> — 0.5%** |  |  |  |
|  CP Atlas Buyer, Inc., 7.00%, 12/01/28 |  | 84 | 66150 |
|  Jeld-Wen, Inc., 6.25%, 05/15/25 |  | 189 | 188229 |
|  Masonite International Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C, 5.38%, 02/01/28 |  | 161 | 157377 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C, 3.50%, 02/15/30 |  | 273 | 234944 |
|  New Enterprise Stone & Lime Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 |  | 103 | 89868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 07/15/28 |  | 48 | 40190 |
|  SRM Escrow Issuer LLC, 6.00%, 11/01/28 |  | 643 | 596633 |

---

S C H E D U L E O F I N V E S T M E N T S 3

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **Building Materials (continued)** |  |  |  |
|  Standard Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/27 | USD | 48 | $46034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 |  | 115 | 109250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/15/30<sup>(g)</sup>  |  | 1082 | 945105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/15/31<sup>(g)</sup>  |  | 384 | 312250 |
|  Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 |  | 227 | 213706 |
|  |  |  | 2999736 |
| **Building Products — 0.8%** |  |  |  |
|  Advanced Drainage Systems, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/30/27 |  | 259 | 253820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/30 |  | 636 | 640875 |
|  Beacon Roofing Supply, Inc., 4.13%, 05/15/29<sup>(c)</sup>  |  | 128 | 113280 |
|  Foundation Building Materials, Inc., 6.00%, 03/01/29<sup>(c)(g)</sup>  |  | 139 | 106757 |
|  GYP Holdings III Corp., 4.63%, 05/01/29<sup>(c)</sup>  |  | 300 | 243000 |
|  LBM Acquisition LLC, 6.25%, 01/15/29<sup>(c)</sup>  |  | 266 | 200830 |
|  Lowe's Cos., Inc., 4.65%, 04/15/42<sup>(g)</sup>  |  | 400 | 388634 |
|  Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26<sup>(c)</sup>  |  | 329 | 292810 |
|  SRS Distribution, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/01/28 |  | 661 | 617969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/01/29 |  | 629 | 565723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/29 |  | 723 | 625490 |
|  White Cap Buyer LLC, 6.88%, 10/15/28<sup>(c)(g)</sup>  |  | 617 | 521353 |
|  White Cap Parent LLC, (8.25% PIK), 8.25%, 03/15/26<sup>(c)(h)</sup>  |  | 268 | 221488 |
|  |  |  | 4792029 |
| **Capital Markets — 1.1%** |  |  |  |
|  Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00%<sup>(b)(k)</sup>  |  | 1060 | 897025 |
|  Compass Group Diversified Holdings LLC, 5.25%, 04/15/29<sup>(c)</sup>  |  | 273 | 240928 |
|  Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/26 |  | 534 | 530881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/27<sup>(g)</sup>  |  | 842 | 808253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 |  | 378 | 340164 |
|  Intercorp Peru Ltd., 3.88%, 08/15/29<sup>(c)</sup>  |  | 270 | 220219 |
|  Kane Bidco Ltd., 6.50%, 02/15/27<sup>(e)</sup>  | GBP | 100 | 107319 |
|  NFP Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/15/28 | USD | 1027 | 934908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/15/28<sup>(g)</sup>  |  | 2267 | 1989519 |
|  Raymond James Financial, Inc., 4.95%, 07/15/46<sup>(g)</sup>  |  | 400 | 395876 |
|  |  |  | 6465092 |
| **Chemicals — 2.2%** |  |  |  |
|  Alpek SAB de CV, 3.25%, 02/25/31<sup>(c)</sup>  |  | 285 | 238741 |
|  Ashland LLC, 3.38%, 09/01/31<sup>(c)</sup>  |  | 373 | 318773 |
|  Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(c)</sup>  |  | 745 | 649542 |
|  Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27<sup>(c)</sup>  |  | 600 | 573121 |
|  Braskem Idesa SAPI, 6.99%, 02/20/32<sup>(c)</sup>  |  | 305 | 256871 |
|  Braskem Netherlands Finance BV, (5 year CMT + 8.22%), 8.50%, 01/23/81<sup>(b)(c)</sup>  |  | 337 | 348087 |
|  Celanese US Holdings LLC, 6.17%, 07/15/27 |  | 355 | 360556 |
|  Chemours Co., 4.00%, 05/15/26 | EUR | 200 | 189590 |
|  Diamond BC BV, 4.63%, 10/01/29<sup>(c)</sup>  | USD | 712 | 603406 |
|  Element Solutions, Inc., 3.88%, 09/01/28<sup>(c)(g)</sup>  |  | 1889 | 1743981 |
|  Equate Petrochemical BV, 2.63%, 04/28/28<sup>(c)</sup>  |  | 200 | 179250 |
|  EverArc Escrow SARL, 5.00%, 10/30/29<sup>(c)</sup>  |  | 703 | 617733 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Chemicals (continued)** |  |  |  |  |
|  GCP Applied Technologies, Inc., 5.50%, 04/15/26<sup>(c)</sup>  | USD | 199 | $| 201886 |
|  HB Fuller Co., 4.25%, 10/15/28 |  | 141 |  | 125490 |
|  Herens Holdco Sarl, 4.75%, 05/15/28<sup>(c)</sup>  |  | 671 |  | 562420 |
|  Herens Midco Sarl, 5.25%, 05/15/29<sup>(e)</sup>  | EUR | 100 |  | 71605 |
|  Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28<sup>(c)</sup>  | USD | 443 |  | 351343 |
|  Ingevity Corp., 3.88%, 11/01/28<sup>(c)</sup>  |  | 105 |  | 93168 |
|  Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26<sup>(c)(h)</sup>  |  | 294 |  | 233584 |
|  LSF11 A5 HoldCo LLC, 6.63%, 10/15/29<sup>(c)</sup>  |  | 144 |  | 123467 |
|  Lune Holdings Sarl, 5.63%, 11/15/28<sup>(e)</sup>  | EUR | 100 |  | 88744 |
|  Minerals Technologies, Inc., 5.00%, 07/01/28<sup>(c)</sup>  | USD | 218 |  | 199761 |
|  Monitchem HoldCo 3 SA, 5.25%, 03/15/25<sup>(e)</sup>  | EUR | 100 |  | 95581 |
|  NOVA Chemicals Corp., 4.88%, 06/01/24<sup>(c)</sup>  | USD | 80 |  | 78350 |
|  Sasol Financing USA LLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/27/28 |  | 290 |  | 276370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/18/31 |  | 320 |  | 260860 |
|  SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26<sup>(c)</sup> |  | 305 |  | 255152 |
|  Scotts Miracle-Gro Co. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/31 |  | 220 |  | 181500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/32 |  | 34 |  | 27880 |
|  Sherwin-Williams Co., 4.50%, 06/01/47<sup>(g)</sup>  |  | 310 |  | 286877 |
|  SPCM SA, 3.13%, 03/15/27<sup>(c)</sup>  |  | 200 |  | 170500 |
|  WESCO Distribution, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 06/15/25 |  | 830 |  | 857888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/28 |  | 573 |  | 593634 |
|  WR Grace Holdings LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/01/24<sup>(g)</sup>  |  | 300 |  | 287853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/15/27 |  | 24 |  | 22980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/29 |  | 1741 |  | 1469404 |
|  |  |  |  | 12995948 |
| **Commercial Services & Supplies — 0.9%** | **Commercial Services & Supplies — 0.9%** | **Commercial Services & Supplies — 0.9%** | **Commercial Services & Supplies — 0.9%** | **Commercial Services & Supplies — 0.9%** |
|  ADT Security Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/23 |  | 16 |  | 15883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/01/29<sup>(c)</sup>  |  | 35 |  | 31500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/32<sup>(c)</sup>  |  | 57 |  | 50496 |
|  Albion Financing 1 SARL/Aggreko Holdings, Inc., 6.13%, 10/15/26<sup>(c)</sup>  |  | 222 |  | 195312 |
|  APX Group, Inc., 5.75%, 07/15/29<sup>(c)</sup>  |  | 342 |  | 285255 |
|  Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29<sup>(c)(g)</sup>  |  | 45 |  | 41036 |
|  BCP V Modular Services Finance II PLC, 4.75%, 11/30/28<sup>(e)</sup>  | EUR | 100 |  | 85086 |
|  EC Finance PLC, 3.00%, 10/15/26<sup>(e)</sup>  |  | 200 |  | 187577 |
|  Fortress Transportation & Infrastructure Investors LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/25 | USD | 74 |  | 73630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/01/28 |  | 396 |  | 356028 |
|  Herc Holdings, Inc., 5.50%, 07/15/27<sup>(c)</sup>  |  | 428 |  | 428000 |
|  Hertz Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/26 |  | 161 |  | 143290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/29 |  | 130 |  | 111156 |
|  Loxam SAS, 4.50%, 02/15/27<sup>(e)</sup>  | EUR | 101 |  | 95898 |
|  Metis Merger Sub LLC, 6.50%, 05/15/29<sup>(c)</sup>  | USD | 273 |  | 232209 |
|  NESCO Holdings II, Inc., 5.50%, 04/15/29<sup>(c)</sup>  |  | 305 |  | 264587 |
|  Prime Security Services Borrower LLC/Prime Finance, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/24 |  | 178 |  | 177777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/15/26<sup>(g)</sup>  |  | 626 |  | 636185 |

---

4.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
|  Prime Security Services Borrower LLC/Prime Finance, Inc.<sup>(c)</sup> (continued)<br>6.25%, 01/15/28 | USD | 229 | $| 209920 |
|  Ritchie Bros Auctioneers, Inc., 5.38%, 01/15/25<sup>(c)(g)</sup>  |  | 157 |  | 157392 |
|  Sotheby's/Bidfair Holdings, Inc., 5.88%, 06/01/29<sup>(c)</sup>  |  | 690 |  | 598470 |
|  United Rentals North America, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/27 |  | 173 |  | 175855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/30 |  | 170 |  | 171866 |
|  Verisure Holding AB, 3.25%, 02/15/27<sup>(e)</sup>  | EUR | 100 |  | 89429 |
|  Williams Scotsman International, Inc., 4.63%, 08/15/28<sup>(c)</sup>  | USD | 316 |  | 296299 |
|  |  |  |  | 5110136 |
| **Communications Equipment — 0.6%** |  |  |  |  |
|  Avaya, Inc., 6.13%, 09/15/28<sup>(c)(g)</sup>  |  | 651 |  | 305794 |
|  Ciena Corp., 4.00%, 01/31/30<sup>(c)</sup>  |  | 133 |  | 121695 |
|  CommScope Technologies LLC, 6.00%, 06/15/25<sup>(c)</sup>  |  | 655 |  | 605875 |
|  CommScope, Inc.<sup>(c)</sup>6.00%, 03/01/26 |  | 103 |  | 100126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 03/01/27 |  | 129 |  | 112230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 07/01/28<sup>(g)</sup>  |  | 188 |  | 155570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/01/29 |  | 604 |  | 525166 |
|  Nokia OYJ, 4.38%, 06/12/27<sup>(g)</sup>  |  | 177 |  | 174494 |
|  Viasat, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/15/25 |  | 410 |  | 360800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/27 |  | 87 |  | 82032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/15/28 |  | 360 |  | 267840 |
|  Viavi Solutions, Inc., 3.75%, 10/01/29<sup>(c)</sup>  |  | 454 |  | 399969 |
|  |  |  |  | 3211591 |
| **Construction Materials<sup>(c)</sup> — 0.3%** | **Construction Materials<sup>(c)</sup> — 0.3%** | **Construction Materials<sup>(c)</sup> — 0.3%** | **Construction Materials<sup>(c)</sup> — 0.3%** | **Construction Materials<sup>(c)</sup> — 0.3%** |
|  American Builders & Contractors Supply Co., Inc.<br>4.00%, 01/15/28<sup>(g)</sup>  |  | 536 |  | 501626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/15/29 |  | 76 |  | 64980 |
|  BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |  | 139 |  | 121279 |
|  H&E Equipment Services, Inc., 3.88%, 12/15/28 |  | 76 |  | 65930 |
|  IAA, Inc., 5.50%, 06/15/27 |  | 443 |  | 442737 |
|  Resideo Funding, Inc., 4.00%, 09/01/29 |  | 77 |  | 65626 |
|  Thor Industries, Inc., 4.00%, 10/15/29 |  | 137 |  | 110996 |
|  Winnebago Industries, Inc., 6.25%, 07/15/28 |  | 98 |  | 93532 |
|  |  |  |  | 1466706 |
| **Consumer Discretionary — 1.4%** | **Consumer Discretionary — 1.4%** | **Consumer Discretionary — 1.4%** | **Consumer Discretionary — 1.4%** | **Consumer Discretionary — 1.4%** |
|  APi Escrow Corp., 4.75%, 10/15/29<sup>(c)</sup>  |  | 128 |  | 107840 |
|  APi Group DE, Inc., 4.13%, 07/15/29<sup>(c)</sup>  |  | 168 |  | 139857 |
|  Carnival Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.13%, 02/01/26<sup>(e)</sup>  | EUR | 100 |  | 106932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 02/01/26<sup>(c)(g)</sup>  | USD | 846 |  | 888317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/01/26<sup>(c)</sup>  |  | 91 |  | 78283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/27<sup>(c)(g)</sup>  |  | 1191 |  | 954652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 08/01/27<sup>(c)</sup>  |  | 488 |  | 505658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/01/28<sup>(c)</sup>  |  | 1115 |  | 972838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/01/29<sup>(c)</sup>  |  | 402 |  | 309476 |
|  CoreLogic, Inc., 4.50%, 05/01/28<sup>(c)</sup>  |  | 657 |  | 506711 |
|  Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer, Inc., 5.00%, 02/01/26<sup>(c)</sup>  |  | 114 |  | 102756 |
|  Life Time, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/26 |  | 329 |  | 309267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/15/26 |  | 276 |  | 260130 |
|  Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(c)</sup>  |  | 334 |  | 306395 |
|  NCL Corp. Ltd.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/26 |  | 324 |  | 264245 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** |
|  NCL Corp. Ltd.<sup>(c)</sup> (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/29 | USD | 140 | $| 112224 |
|  NCL Finance Ltd., 6.13%, 03/15/28<sup>(c)</sup>  |  | 333 |  | 257419 |
|  Nielsen Finance LLC/Nielsen Finance Co.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/01/28 |  | 633 |  | 620340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/01/30 |  | 242 |  | 237463 |
|  Royal Caribbean Cruises Ltd.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 06/01/23 |  | 114 |  | 116563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 06/15/23 |  | 195 |  | 197946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 06/01/25 |  | 154 |  | 164963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/31/26 |  | 116 |  | 91611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/15/27 |  | 365 |  | 282875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/28<sup>(g)</sup>  |  | 343 |  | 257006 |
|  Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29<sup>(c)</sup>. |  | 233 |  | 201232 |
|  |  |  |  | 8352999 |
| **Consumer Finance — 1.7%** | **Consumer Finance — 1.7%** | **Consumer Finance — 1.7%** | **Consumer Finance — 1.7%** | **Consumer Finance — 1.7%** |
|  American Express Co., (5 year CMT + 2.85%), 3.55%<sup>(b)(k)</sup>  |  | 940 |  | 826260 |
|  Avient Corp., 7.13%, 08/01/30 |  | 214 |  | 220510 |
|  Block, Inc., 3.50%, 06/01/31<sup>(g)</sup>  |  | 2304 |  | 1992960 |
|  HealthEquity, Inc., 4.50%, 10/01/29<sup>(c)</sup>  |  | 814 |  | 758111 |
|  Iron Mountain U.K. PLC, 3.88%, 11/15/25<sup>(e)</sup>  | GBP | 100 |  | 109099 |
|  MPH Acquisition Holdings LLC, 5.50%, 09/01/28<sup>(c)</sup>  | USD | 280 |  | 260400 |
|  Navient Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/25/23<sup>(g)</sup>  |  | 91 |  | 92225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/25/24 |  | 105 |  | 104453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/25/24 |  | 76 |  | 74502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/29 |  | 355 |  | 304356 |
|  OneMain Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/15/25 |  | 263 |  | 259712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/15/26 |  | 389 |  | 376542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/27 |  | 389 |  | 331211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/28 |  | 285 |  | 267224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/29 |  | 44 |  | 37415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/30 |  | 141 |  | 110685 |
|  Sabre Global, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 04/15/25 |  | 229 |  | 232985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 09/01/25 |  | 336 |  | 333176 |
|  Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26<sup>(c)</sup>  |  | 666 |  | 625207 |
|  Shift4 Payments, Inc., 0.00%, 12/15/25<sup>(i)(j)</sup>  |  | 446 |  | 383281 |
|  SLM Corp., 3.13%, 11/02/26 |  | 221 |  | 193729 |
|  Verscend Escrow Corp., 9.75%, 08/15/26<sup>(c)(g)</sup>  |  | 2007 |  | 2015941 |
|  |  |  |  | 9909984 |
| **Containers & Packaging — 0.5%** |  |  |  |  |
|  Clydesdale Acquisition Holdings, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 04/15/29 |  | 684 |  | 690648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 04/15/30 |  | 483 |  | 460671 |
|  Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 |  | 513 |  | 499672 |
|  Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 |  | 258 |  | 256034 |
|  Graphic Packaging International LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/27 |  | 104 |  | 101298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/28 |  | 22 |  | 20323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/29 |  | 78 |  | 70313 |
|  Klabin Austria GmbH, 3.20%, 01/12/31<sup>(c)</sup>  |  | 315 |  | 257418 |
|  LABL, Inc., 5.88%, 11/01/28<sup>(c)</sup>  |  | 332 |  | 303365 |

---

S C H E D U L E O F I N V E S T M E N T S 5

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** |
|  Sealed Air Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/01/24 | USD | 54 | $| 54675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/27 |  | 92 |  | 87400 |
|  |  |  |  | 2801817 |
| **Diversified Consumer Services — 1.8%** | **Diversified Consumer Services — 1.8%** | **Diversified Consumer Services — 1.8%** | **Diversified Consumer Services — 1.8%** | **Diversified Consumer Services — 1.8%** |
|  Allied Universal Holdco LLC/Allied Universal Finance Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 07/15/26 |  | 2705 |  | 2621064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 07/15/27<sup>(g)</sup>  |  | 812 |  | 743435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/01/29<sup>(g)</sup>  |  | 1655 |  | 1272281 |
|  Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/01/28<sup>(e)</sup>  | EUR | 100 |  | 84702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/01/28<sup>(c)(g)</sup>  | USD | 900 |  | 799110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/01/28<sup>(c)</sup>  |  | 710 |  | 619475 |
|  Clarivate Science Holdings Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/01/28 |  | 1281 |  | 1165710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/01/29<sup>(g)</sup>  |  | 557 |  | 492945 |
|  Garda World Security Corp., 4.63%, 02/15/27<sup>(c)</sup>  |  | 183 |  | 165094 |
|  Graham Holdings Co., 5.75%, 06/01/26<sup>(c)</sup>  |  | 135 |  | 135257 |
|  Rekeep SpA, 7.25%, 02/01/26<sup>(e)</sup>  | EUR | 100 |  | 88663 |
|  Service Corp. International |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/01/29 | USD | 107 |  | 107000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/30 |  | 341 |  | 303064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/31 |  | 454 |  | 417700 |
|  Sotheby's, 7.38%, 10/15/27<sup>(c)</sup>  |  | 1297 |  | 1248023 |
|  |  |  |  | 10263523 |
| **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** | **Diversified Financial Services — 1.7%** |
|  Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28<sup>(c)</sup>  |  | 514 |  | 431760 |
|  ASG Finance Designated Activity Co., 7.88%, 12/03/24<sup>(c)</sup>  |  | 262 |  | 245625 |
|  Barclays PLC, 5.20%, 05/12/26 |  | 200 |  | 201424 |
|  BNP Paribas SA, (5 year CMT + 3.34%), 4.63%<sup>(b)(c)(k)</sup>  |  | 1750 |  | 1409302 |
|  Castlelake Aviation Finance DAC, 5.00%, 04/15/27<sup>(c)</sup>  |  | 56 |  | 47014 |
|  Central Garden & Pet Co. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/30 |  | 244 |  | 211529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/30/31<sup>(c)</sup>  |  | 224 |  | 192851 |
|  Citigroup, Inc.<sup>(b)(k)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.42%), 3.88%<sup>(g)</sup>  |  | 2000 |  | 1828100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series W, (5 year CMT + 3.60%), 4.00% |  | 200 |  | 185926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Y, (5 year CMT + 3.00%), 4.15% |  | 630 |  | 554765 |
|  Deutsche Bank AG, (5 year EURIBOR ICE Swap Rate + 3.30%), 4.00%, 06/24/32<sup>(b)(e)</sup>  | EUR | 100 |  | 97793 |
|  Easy Tactic Ltd., 6.50%, 07/11/27 | USD | 210 |  | 41287 |
|  Garfunkelux Holdco 3 SA, 7.75%, 11/01/25<sup>(e)</sup>  | GBP | 100 |  | 105583 |
|  Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24<sup>(c)(h)</sup>  | USD | 275 |  | 210983 |
|  Goldman Sachs Group, Inc., Series R, (5 year CMT + 3.22%), 4.95%<sup>(b)(g)(k)</sup>  |  | 900 |  | 860400 |
|  HSBC Holdings PLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/23/26<sup>(g)</sup>  |  | 370 |  | 369771 |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.25%), 4.70%<sup>(b)(g)(k)</sup>  |  | 465 |  | 371282 |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.65%), 4.60%<sup>(b)(k)</sup>  |  | 200 |  | 166960 |
|  Intrum AB, 3.00%, 09/15/27<sup>(e)</sup>  | EUR | 100 |  | 82019 |
|  ION Trading Technologies Sarl, 5.75%, 05/15/28<sup>(c)</sup>  | USD | 246 |  | 202182 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
|  Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28<sup>(c)</sup>  | USD | 415 | $| 347848 |
|  Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/27 |  | 220 |  | 196123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/29 |  | 85 |  | 72551 |
|  Lloyds Banking Group PLC, (5 year CMT + 4.82%), 6.75%<sup>(b)(g)(k)</sup>  |  | 515 |  | 506052 |
|  Operadora de Servicios Mega SA de CV Sofom ER, 8.25%, 02/11/25<sup>(c)</sup>  |  | 501 |  | 322143 |
|  Shriram Transport Finance Co. Ltd., 5.95%, 10/24/22<sup>(e)</sup>  |  | 320 |  | 317600 |
|  Spectrum Brands, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/29 |  | 106 |  | 95135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/30 |  | 198 |  | 178372 |
|  UBS Group AG, (5 year CMT + 3.31%),<br>4.38%<sup>(b)(c)(k)</sup>  |  | 210 |  | 168788 |
|  |  |  |  | 10021168 |
| **Diversified Telecommunication Services — 3.4%** | **Diversified Telecommunication Services — 3.4%** | **Diversified Telecommunication Services — 3.4%** | **Diversified Telecommunication Services — 3.4%** | **Diversified Telecommunication Services — 3.4%** |
|  AT&T, Inc.<sup>(g)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/44 |  | 111 |  | 104361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/46 |  | 2545 |  | 2473622 |
|  Consolidated Communications, Inc., 6.50%, 10/01/28<sup>(c)(g)</sup>  |  | 861 |  | 740460 |
|  Level 3 Financing, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/01/25 |  | 146 |  | 146197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/01/27<sup>(c)</sup>  |  | 113 |  | 101979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/15/27<sup>(c)</sup>  |  | 127 |  | 116083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/01/28<sup>(c)(g)</sup>  |  | 785 |  | 684874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 01/15/29<sup>(c)</sup>  |  | 198 |  | 165480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/15/29<sup>(c)</sup>  |  | 487 |  | 402992 |
|  Lumen Technologies, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/26<sup>(c)(g)</sup>  |  | 826 |  | 752395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/27<sup>(c)</sup>  |  | 641 |  | 589733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29<sup>(c)(g)</sup>  |  | 731 |  | 579317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/29<sup>(c)</sup>  |  | 582 |  | 485970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series U, 7.65%, 03/15/42 |  | 149 |  | 116220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series W, 6.75%, 12/01/23<sup>(g)</sup>  |  | 620 |  | 630030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Y, 7.50%, 04/01/24<sup>(g)</sup>  |  | 368 |  | 377458 |
|  Oi SA, (10.00% Cash or 8.00% Cash + 4.00% PIK), 10.00%, 07/27/25<sup>(h)</sup>  |  | 383 |  | 181925 |
|  SoftBank Group Corp.<sup>(e)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/20/25 | EUR | 100 |  | 94022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/19/25 |  | 100 |  | 88663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/06/27 |  | 100 |  | 84319 |
|  Sprint Capital Corp.<sup>(g)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/28 | USD | 1778 |  | 1995805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/15/32 |  | 1025 |  | 1327375 |
|  Switch Ltd.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/15/28 |  | 399 |  | 399128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/29 |  | 788 |  | 797401 |
|  Telecom Italia Capital SA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/33 |  | 191 |  | 159275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/30/34<sup>(g)</sup>  |  | 569 |  | 448274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 07/18/36 |  | 137 |  | 113625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 06/04/38 |  | 71 |  | 58930 |
|  Telecom Italia SpA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/11/24<sup>(e)</sup>  | EUR | 100 |  | 101694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/30/24<sup>(c)(g)</sup>  | USD | 202 |  | 196395 |

---

6.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
|  Telecom Italia SpA (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/25<sup>(e)</sup>  | EUR | 100 | $| 96855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 01/18/29<sup>(e)</sup>  |  | 200 |  | 150671 |
|  Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 01/15/30<sup>(c)</sup>  | USD | 194 |  | 138531 |
|  Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28<sup>(c)</sup>  |  | 339 |  | 298360 |
|  Verizon Communications, Inc., 3.70%, 03/22/61<sup>(g)</sup>  |  | 1250 |  | 1024605 |
|  Zayo Group Holdings, Inc.<sup>(c)(g)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/27 |  | 1586 |  | 1388162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/01/28 |  | 2561 |  | 1984775 |
|  |  |  |  | 19595961 |
| **Education — 0.0%** |  |  |  |  |
|  Grand Canyon University, 5.13%, 10/01/28 |  | 249 |  | 234060 |
| **Electric Utilities — 1.1%** |  |  |  |  |
|  Comision Federal de Electricidad, 4.88%, 01/15/24 |  | 323 |  | 322192 |
|  Duke Energy Corp., 4.80%, 12/15/45<sup>(g)</sup>  |  | 1500 |  | 1459612 |
|  Empresas Publicas de Medellin ESP, 4.25%, 07/18/29<sup>(c)</sup>  |  | 309 |  | 244264 |
|  FirstEnergy Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/01/30 |  | 345 |  | 303600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B, 2.25%, 09/01/30 |  | 27 |  | 22883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C, 3.40%, 03/01/50 |  | 932 |  | 695598 |
|  FirstEnergy Transmission LLC<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/44 |  | 573 |  | 579761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/49 |  | 206 |  | 187543 |
|  General Motors Co., 3.63%, 05/25/27<sup>(c)(g)</sup>  |  | 1250 |  | 1188559 |
|  NextEra Energy Operating Partners LP<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/15/24 |  | 205 |  | 203108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/24 |  | 11 |  | 10753 |
|  NPC Ukrenergo, 6.88%, 11/09/26<sup>(c)</sup>  |  | 205 |  | 36900 |
|  Virginia Electric & Power Co., Series A, 6.00%, 05/15/37<sup>(g)</sup>  |  | 750 |  | 856540 |
|  |  |  |  | 6111313 |
| **Electrical Equipment<sup>(c)</sup> — 0.1%** |  |  |  |  |
|  Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |  | 572 |  | 559222 |
|  GrafTech Finance, Inc., 4.63%, 12/15/28 |  | 176 |  | 152842 |
|  |  |  |  | 712064 |
| **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** |
|  BWX Technologies, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/30/28 |  | 22 |  | 20845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/15/29 |  | 265 |  | 248862 |
|  CDW LLC/CDW Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/01/28 |  | 72 |  | 63289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/29 |  | 93 |  | 79978 |
|  Corning, Inc., 4.38%, 11/15/57<sup>(g)</sup>  |  | 1915 |  | 1683275 |
|  Energizer Holdings, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/31/27 |  | 150 |  | 138937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/31/29 |  | 24 |  | 19820 |
|  Imola Merger Corp., 4.75%, 05/15/29<sup>(c)(g)</sup>  |  | 839 |  | 784465 |
|  Vertiv Group Corp., 4.13%, 11/15/28<sup>(c)</sup>  |  | 872 |  | 771720 |
|  Xerox Corp., 4.80%, 03/01/35 |  | 65 |  | 49737 |
|  |  |  |  | 3860928 |
| **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** |
|  Archrock Partners LP/Archrock Partners Finance Corp.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/01/27 |  | 202 |  | 188526 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** |
|  Archrock Partners LP/Archrock Partners Finance Corp.<sup>(c)</sup> (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/01/28<sup>(g)</sup>  | USD | 1057 | $| 956490 |
|  USA Compression Partners LP/USA Compression Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/01/26 |  | 212 |  | 198703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 09/01/27 |  | 657 |  | 600682 |
|  Vallourec SA, 8.50%, 06/30/26<sup>(e)</sup>  | EUR | 32 |  | 31290 |
|  Weatherford International Ltd.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/15/28 | USD | 17 |  | 16175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 04/30/30 |  | 266 |  | 240544 |
|  |  |  |  | 2232410 |
| **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** |
|  Clean Harbors, Inc.<sup>(c)(g)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/27 |  | 297 |  | 294876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/15/29 |  | 205 |  | 198882 |
|  Covanta Holding Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/01/29<sup>(c)</sup>  |  | 242 |  | 215557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/30 |  | 137 |  | 119622 |
|  GFL Environmental, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/01/25 |  | 176 |  | 170828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/26 |  | 496 |  | 499229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/01/28 |  | 567 |  | 511536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/28 |  | 259 |  | 234395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/29 |  | 483 |  | 444326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/29 |  | 403 |  | 359677 |
|  Stericycle, Inc., 3.88%, 01/15/29<sup>(c)</sup>  |  | 210 |  | 192009 |
|  Tervita Corp., 11.00%, 12/01/25<sup>(c)</sup>  |  | 147 |  | 159863 |
|  Waste Pro USA, Inc., 5.50%, 02/15/26<sup>(c)</sup>  |  | 939 |  | 868575 |
|  |  |  |  | 4269375 |
| **Equity Real Estate Investment Trusts (REITs) — 0.9%** | **Equity Real Estate Investment Trusts (REITs) — 0.9%** | **Equity Real Estate Investment Trusts (REITs) — 0.9%** | **Equity Real Estate Investment Trusts (REITs) — 0.9%** | **Equity Real Estate Investment Trusts (REITs) — 0.9%** |
|  Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27<sup>(c)</sup>  |  | 227 |  | 198194 |
|  CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28<sup>(c)</sup>  |  | 208 |  | 183781 |
|  Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27<sup>(c)</sup>  |  | 183 |  | 160446 |
|  Iron Mountain, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 |  | 183 |  | 171202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/15/32<sup>(g)</sup>  |  | 566 |  | 530936 |
|  LMIRT Capital Pte. Ltd., 7.25%, 06/19/24<sup>(e)</sup>  |  | 232 |  | 188500 |
|  MPT Operating Partnership LP/MPT Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/27 |  | 68 |  | 65450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/29<sup>(g)</sup>  |  | 506 |  | 474375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/31<sup>(g)</sup>  |  | 1787 |  | 1538509 |
|  RHP Hotel Properties LP/RHP Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/27<sup>(g)</sup>  |  | 1032 |  | 995880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/29<sup>(c)</sup>  |  | 227 |  | 206998 |
|  RLJ Lodging Trust LP<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/26 |  | 173 |  | 162283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/29 |  | 124 |  | 109895 |
|  Trust Fibra Uno, 5.25%, 01/30/26<sup>(c)</sup>  |  | 235 |  | 219989 |
|  VICI Properties LP/VICI Note Co., Inc., 3.88%, 02/15/29<sup>(c)</sup>  |  | 64 |  | 58431 |
|  |  |  |  | 5264869 |

---

S C H E D U L E O F I N V E S T M E N T S 7

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Food & Staples Retailing — 1.5%** | **Food & Staples Retailing — 1.5%** | **Food & Staples Retailing — 1.5%** |  |  |
|  Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/26 | USD | 756 | $| 702551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/26<sup>(g)</sup>  |  | 127 |  | 131150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/27<sup>(g)</sup>  |  | 972 |  | 918240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/28 |  | 377 |  | 365690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/30 |  | 182 |  | 166530 |
|  Bellis Acquisition Co. PLC, 3.25%, 02/16/26<sup>(e)</sup>  | GBP | 100 |  | 98946 |
|  BRF GmbH, 4.35%, 09/29/26<sup>(e)</sup>  | USD | 200 |  | 182315 |
|  Casino, Guichard-Perrachon S.A.,<br>5.25%, 04/15/27<sup>(e)</sup>  | EUR | 100 |  | 66178 |
|  Darling Ingredients, Inc., 6.00%, 06/15/30<sup>(c)</sup>  | USD | 417 |  | 431274 |
|  Kraft Heinz Foods Co. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/09/40 |  | 205 |  | 226140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/49<sup>(g)</sup>  |  | 513 |  | 479750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/50<sup>(g)</sup>  |  | 913 |  | 930183 |
|  Lamb Weston Holdings, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/28 |  | 373 |  | 363395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/31/30 |  | 368 |  | 342963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/31/32 |  | 1153 |  | 1081738 |
|  Market Bidco Finco PLC, 5.50%, 11/04/27<sup>(e)</sup>  | GBP | 100 |  | 101686 |
|  Ocado Group PLC, 3.88%, 10/08/26<sup>(e)</sup>  |  | 100 |  | 97812 |
|  Performance Food Group, Inc., 4.25%, 08/01/29<sup>(c)</sup>  | USD | 502 |  | 446077 |
|  Post Holdings, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/27 |  | 42 |  | 41895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/15/28 |  | 86 |  | 84710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/29 |  | 190 |  | 179599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/15/30 |  | 464 |  | 416097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/31 |  | 14 |  | 12425 |
|  Premier Foods Finance PLC, 3.50%, 10/15/26<sup>(e)</sup>  | GBP | 100 |  | 110333 |
|  U.S. Foods, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/29 | USD | 427 |  | 398577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/01/30 |  | 51 |  | 46729 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8422983 |
| **Food Products<sup>(c)</sup> — 0.7%** |  |  |  |  |
|  Aramark Services, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/25 |  | 242 |  | 241343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/01/25 |  | 105 |  | 105193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/28 |  | 606 |  | 592062 |
|  Chobani LLC/Chobani Finance Corp., Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/25<sup>(g)</sup>  |  | 1075 |  | 1034688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/28 |  | 846 |  | 762677 |
|  Grupo Bimbo SAB de CV, (5 year CMT + 3.28%), 5.95%<sup>(b)(k)</sup> |  | 287 |  | 281777 |
|  JBS USA LUX SA/JBS USA Food Co./JBS USA<br>Finance, Inc., 3.75%, 12/01/31 |  | 357 |  | 300532 |
|  Pilgrim's Pride Corp., 3.50%, 03/01/32 |  | 224 |  | 189140 |
|  Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed,<br>4.63%, 03/01/29 |  | 364 |  | 332317 |
|  |  |  |  | 3839729 |
| **Gas Utilities — 0.0%** |  |  |  |  |
|  Suburban Propane Partners LP/Suburban Energy |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Finance Corp., 5.00%, 06/01/31<sup>(c)</sup>  |  | 117 |  | 106589 |
| **Health Care Equipment & Supplies<sup>(c)</sup> — 0.4%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.4%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.4%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.4%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.4%** |
|  Avantor Funding, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/28<sup>(g)</sup>  |  | 1385 |  | 1333367 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** |
|  Avantor Funding, Inc. (continued)<br>3.88%, 11/01/29 | USD | 252 | $| 231971 |
|  Embecta Corp., 6.75%, 02/15/30 |  | 195 |  | 179107 |
|  Garden Spinco Corp., 8.63%, 07/20/30 |  | 254 |  | 266708 |
|  Hologic, Inc., 3.25%, 02/15/29 |  | 59 |  | 53468 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064621 |
| **Health Care Providers & Services — 3.3%** | **Health Care Providers & Services — 3.3%** | **Health Care Providers & Services — 3.3%** | **Health Care Providers & Services — 3.3%** | **Health Care Providers & Services — 3.3%** |
|  180 Medical, Inc., 3.88%, 10/15/29<sup>(c)</sup>  |  | 200 |  | 181823 |
|  Acadia Healthcare Co., Inc., 5.00%, 04/15/29<sup>(c)</sup>  |  | 71 |  | 68803 |
|  AdaptHealth LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/01/28 |  | 97 |  | 91798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/30 |  | 34 |  | 31186 |
|  AHP Health Partners, Inc., 5.75%, 07/15/29<sup>(c)</sup>  |  | 415 |  | 307922 |
|  Cano Health LLC, 6.25%, 10/01/28<sup>(c)</sup>  |  | 159 |  | 142537 |
|  Centene Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 07/15/28 |  | 871 |  | 779545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/29<sup>(g)</sup>  |  | 1292 |  | 1274235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/30 |  | 859 |  | 766692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/01/31<sup>(g)</sup>  |  | 1363 |  | 1169331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/01/31 |  | 426 |  | 363267 |
|  CHS/Community Health Systems, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 03/15/26<sup>(g)</sup>  |  | 581 |  | 554855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/15/27 |  | 475 |  | 422156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 |  | 585 |  | 510413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 04/01/30 |  | 384 |  | 205298 |
|  Elevance Health, Inc., 2.75%, 10/15/42<sup>(i)</sup>  |  | 73 |  | 495020 |
|  Encompass Health Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/01/28 |  | 59 |  | 54587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/30 |  | 510 |  | 470404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/01/31 |  | 270 |  | 242395 |
|  Legacy LifePoint Health LLC, 4.38%, 02/15/27<sup>(c)</sup>  |  | 124 |  | 110050 |
|  LifePoint Health, Inc., 5.38%, 01/15/29<sup>(c)(g)</sup>  |  | 459 |  | 354164 |
|  Medline Borrower LP<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/01/29 |  | 575 |  | 519656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/29<sup>(g)</sup>  |  | 1596 |  | 1442385 |
|  ModivCare, Inc., 5.88%, 11/15/25<sup>(c)</sup>  |  | 91 |  | 88776 |
|  Molina Healthcare, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/15/28 |  | 152 |  | 146300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/15/30 |  | 321 |  | 296546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/32 |  | 341 |  | 313304 |
|  Northwell Healthcare, Inc., 4.26%, 11/01/47<sup>(g)</sup>  |  | 686 |  | 619990 |
|  Owens & Minor, Inc., 6.63%, 04/01/30<sup>(c)</sup>  |  | 11 |  | 11002 |
|  Prime Healthcare Services, Inc., 7.25%, 11/01/25<sup>(c)</sup>  |  | 368 |  | 323641 |
|  RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26<sup>(c)(g)</sup>  |  | 129 |  | 121260 |
|  Surgery Center Holdings, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/01/25<sup>(g)</sup>  |  | 782 |  | 742454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 04/15/27 |  | 778 |  | 791716 |
|  Teleflex, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/27 |  | 100 |  | 98347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/01/28<sup>(c)</sup>  |  | 325 |  | 306353 |
|  Tenet Healthcare Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/24<sup>(g)</sup>  |  | 104 |  | 103920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/01/24<sup>(c)</sup>  |  | 433 |  | 428274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/01/26<sup>(c)(g)</sup>  |  | 1629 |  | 1604402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/01/27<sup>(c)</sup>  |  | 231 |  | 233696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/01/27<sup>(c)(g)</sup>  |  | 910 |  | 896350 |

---

8.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |  |
|  Tenet Healthcare Corp. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/01/28<sup>(c)</sup>  | USD | 235 | $229125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/01/29<sup>(c)</sup>  |  | 61 | 56730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 06/15/30<sup>(c)</sup>  |  | 452 | 456574 |
|  UnitedHealth Group, Inc., 4.38%, 03/15/42<sup>(g)</sup>  |  | 750 | 746585 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19173867 |
| **Health Care Technology — 0.9%** |  |  |  |
|  CAB SELAS, 3.38%, 02/01/28<sup>(e)</sup>  | EUR | 100 | 88899 |
|  Catalent Pharma Solutions, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/27 | USD | 341 | 341269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/29 |  | 201 | 178136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/30 |  | 584 | 522426 |
|  Change Healthcare Holdings LLC/Change Healthcare<br>Finance, Inc., 5.75%, 03/01/25<sup>(c)(g)</sup>  |  | 750 | 776233 |
|  Charles River Laboratories International, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/29 |  | 44 | 40602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/31 |  | 125 | 114365 |
|  Chrome Bidco SASU, 3.50%, 05/31/28<sup>(e)</sup>  | EUR | 100 | 90647 |
|  IQVIA, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/26 | USD | 548 | 545775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/27<sup>(g)</sup>  |  | 517 | 517835 |
|  Minerva Merger Sub, Inc., 6.50%, 02/15/30<sup>(c)</sup>  |  | 999 | 904095 |
|  Syneos Health, Inc., 3.63%, 01/15/29<sup>(c)(g)</sup>  |  | 1306 | 1168896 |
|  |  |  | 5289178 |
| **Hotels, Restaurants & Leisure — 2.9%** |  |  |  |
|  1011778 BC ULC/New Red Finance, Inc.<sup>(c)</sup> | 1011778 BC ULC/New Red Finance, Inc.<sup>(c)</sup> | 1011778 BC ULC/New Red Finance, Inc.<sup>(c)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/28<sup>(g)</sup>  |  | 754 | 697307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/15/28 |  | 157 | 145509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/30 |  | 207 | 180090 |
|  Affinity Gaming, 6.88%, 12/15/27<sup>(c)</sup>  |  | 5 | 4333 |
|  Boyd Gaming Corp., 4.75%, 06/15/31<sup>(c)</sup>  |  | 495 | 455514 |
|  Boyne USA, Inc., 4.75%, 05/15/29<sup>(c)</sup>  |  | 378 | 353902 |
|  Caesars Entertainment, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/25<sup>(g)</sup>  |  | 1916 | 1911210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 07/01/27<sup>(g)</sup>  |  | 2072 | 2072000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/29 |  | 803 | 680783 |
|  Caesars Resort Collection LLC/CRC Finco, Inc.,<br>5.75%, 07/01/25<sup>(c)</sup>  |  | 20 | 20003 |
|  CDI Escrow Issuer, Inc., 5.75%, 04/01/30<sup>(c)</sup>  |  | 1246 | 1218040 |
|  Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op,<br>5.50%, 05/01/25<sup>(c)(g)</sup>  |  | 559 | 562843 |
|  Champion Path Holdings Ltd., 4.50%, 01/27/26<sup>(e)</sup>  |  | 250 | 160000 |
|  Churchill Downs, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/27 |  | 658 | 655302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 |  | 434 | 411439 |
|  Cirsa Finance International Sarl, 4.75%, 05/22/25<sup>(e)</sup>  | EUR | 100 | 92782 |
|  Fertitta Entertainment LLC/Fertitta Entertainment<br>Finance Co., Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/29 | USD | 56 | 52220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/15/30 |  | 82 | 67035 |
|  Food Service Project SA, 5.50%, 01/21/27<sup>(e)</sup>  | EUR | 100 | 87237 |
|  Fortune Star BVI Ltd., 6.75%, 07/02/23<sup>(e)</sup>  | USD | 200 | 159000 |
|  Gamma Bidco SpA, 6.25%, 07/15/25<sup>(e)</sup>  | EUR | 100 | 98372 |
|  Hilton Domestic Operating Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/01/29<sup>(c)</sup>  | USD | 186 | 168795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/15/30<sup>(g)</sup>  |  | 1055 | 1024669 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |  |
|  Hilton Domestic Operating Co., Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/01/31<sup>(c)</sup>  | USD | 534 | $479340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/32<sup>(c)</sup>  |  | 20 | 17250 |
|  Hilton Worldwide Finance LLC/Hilton Worldwide<br>Finance Corp., 4.88%, 04/01/27 |  | 246 | 241695 |
|  Melco Resorts Finance Ltd., 5.25%, 04/26/26<sup>(e)</sup>  |  | 250 | 195000 |
|  Merlin Entertainments Ltd., 5.75%, 06/15/26<sup>(c)</sup>  |  | 200 | 185133 |
|  MGM China Holdings Ltd., 5.88%, 05/15/26<sup>(e)</sup>  |  | 250 | 206219 |
|  MGM Resorts International |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/23 |  | 494 | 498256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/25 |  | 35 | 34583 |
|  Midwest Gaming Borrower LLC/Midwest Gaming<br>Finance Corp., 4.88%, 05/01/29<sup>(c)</sup>  |  | 301 | 274687 |
|  Powdr Corp., 6.00%, 08/01/25<sup>(c)</sup>  |  | 461 | 474830 |
|  Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/01/29 |  | 148 | 119510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/01/31 |  | 148 | 115832 |
|  Raptor Acquisition Corp./Raptor Co.-Issuer LLC,<br>4.88%, 11/01/26<sup>(c)</sup>  |  | 225 | 205222 |
|  Scientific Games International, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/15/28 |  | 190 | 193270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 11/15/29 |  | 213 | 216727 |
|  Station Casinos LLC, 4.63%, 12/01/31<sup>(c)</sup>  |  | 354 | 308964 |
|  Stonegate Pub Co. Financing PLC, 8.25%, 07/31/25<sup>(e)</sup>. | GBP | 100 | 115113 |
|  Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28<sup>(c)</sup>  | USD | 204 | 187416 |
|  Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.,<br>5.25%, 05/15/27<sup>(c)(g)</sup>  |  | 268 | 248570 |
|  Wynn Macau Ltd., 5.50%, 01/15/26<sup>(e)</sup>  |  | 200 | 162000 |
|  Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,<br>5.13%, 10/01/29<sup>(c)(g)</sup>  |  | 808 | 704980 |
|  Yum! Brands, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/23 |  | 110 | 109725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/30<sup>(c)</sup>  |  | 159 | 154612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/31 |  | 123 | 111311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/32 |  | 49 | 48387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/01/43 |  | 85 | 72250 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16959267 |
| **Household Durables — 0.6%** |  |  |  |
|  Ashton Woods USA LLC/Ashton Woods Finance Co.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/29 |  | 128 | 99218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/01/30 |  | 185 | 140464 |
|  Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/29 |  | 266 | 204421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/30 |  | 539 | 417663 |
|  CD&R Smokey Buyer, Inc., 6.75%, 07/15/25<sup>(c)</sup>  |  | 27 | 25337 |
|  K Hovnanian Enterprises, Inc., 7.75%, 02/15/26<sup>(c)</sup>  |  | 284 | 278604 |
|  Mattamy Group Corp., 4.63%, 03/01/30<sup>(c)</sup>  |  | 257 | 206823 |
|  Meritage Homes Corp., 5.13%, 06/06/27 |  | 57 | 55710 |
|  NCR Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/01/27 |  | 259 | 253333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/28 |  | 143 | 136023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/15/29 |  | 197 | 189135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/01/29 |  | 93 | 90542 |
|  SWF Escrow Issuer Corp., 6.50%, 10/01/29<sup>(c)</sup>  |  | 422 | 299620 |

---

S C H E D U L E O F I N V E S T M E N T S 9

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Household Durables (continued)** |  |  |  |  |
|  Taylor Morrison Communities, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/27 | USD | 287 | $| 293099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 08/01/30 |  | 75 |  | 68758 |
|  Tempur Sealy International, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 |  | 287 |  | 247268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/31 |  | 308 |  | 249545 |
|  |  |  |  | 3255563 |
| **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** |
|  Adani Green Energy UP Ltd./Prayatna Developers Pvt Ltd./Parampujya Solar Energy, 6.25%, 12/10/24<sup>(e)</sup>  |  | 200 |  | 194162 |
|  Azure Power Solar Energy Pvt Ltd., 5.65%, 12/24/24<sup>(e)</sup>  |  | 200 |  | 194500 |
|  Calpine Corp.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/26<sup>(g)</sup>  |  | 195 |  | 196714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/28<sup>(g)</sup>  |  | 295 |  | 286150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/15/28<sup>(g)</sup>  |  | 1281 |  | 1204909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/01/29 |  | 145 |  | 130393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/31 |  | 58 |  | 51430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/01/31 |  | 7 |  | 6214 |
|  Clearway Energy Operating LLC<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/28 |  | 116 |  | 112230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/32 |  | 335 |  | 285350 |
|  Continuum Energy Levanter Pte. Ltd., 4.50%, 02/09/27<sup>(c)</sup>  |  | 197 |  | 163718 |
|  Greenko Mauritius Ltd., 6.25%, 02/21/23<sup>(e)</sup>  |  | 200 |  | 197787 |
|  India Cleantech Energy, 4.70%, 08/10/26<sup>(c)</sup>  |  | 244 |  | 203218 |
|  India Green Energy Holdings, 5.38%, 04/29/24<sup>(c)</sup>  |  | 325 |  | 310375 |
|  NRG Energy, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/27<sup>(g)</sup>  |  | 958 |  | 972370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/29<sup>(c)(g)</sup>  |  | 347 |  | 325312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/31<sup>(c)</sup>  |  | 365 |  | 305726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/32<sup>(c)</sup>  |  | 171 |  | 146159 |
|  SCC Power PLC<sup>(c)(h)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (4% PIK), 4.00%, 05/17/32 |  | 351 |  | 34591 |
| &nbsp;&nbsp;&nbsp;&nbsp; (8.00% Cash or 4.00% Cash + 4.00% PIK), 8.00%, 12/31/28 |  | 648 |  | 272503 |
|  TerraForm Power Operating LLC, 4.75%, 01/15/30<sup>(c)</sup>  |  | 179 |  | 166396 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5760207 |
| **Insurance — 2.0%** |  |  |  |  |
|  Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29<sup>(c)</sup>  |  | 295 |  | 246012 |
|  Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>(c)(g)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/27 |  | 2228 |  | 2076655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/27 |  | 2012 |  | 1909670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 1512 |  | 1317466 |
|  Allstate Corp., Series B, (3 mo. LIBOR US + 2.94%), 5.75%, 08/15/53<sup>(b)(g)</sup>  |  | 2000 |  | 1854080 |
|  AmWINS Group, Inc., 4.88%, 06/30/29<sup>(c)</sup>  |  | 366 |  | 332877 |
|  Berkshire Hathaway Finance Corp., 4.40%, 05/15/42<sup>(g)</sup>  |  | 250 |  | 248528 |
|  GTCR AP Finance, Inc., 8.00%, 05/15/27<sup>(c)</sup>  |  | 351 |  | 345057 |
|  HUB International Ltd.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/01/26<sup>(g)</sup>  |  | 1392 |  | 1374558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 12/01/29 |  | 67 |  | 59361 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Insurance (continued)** |  |  |  |
|  Ryan Specialty Group LLC, 4.38%, 02/01/30<sup>(c)</sup>  | USD | 173 | $156132 |
|  Teachers Insurance & Annuity Association of America, 4.27%, 05/15/47<sup>(c)(g)</sup>  |  | 700 | 646173 |
|  Voya Financial, Inc., (3 mo. LIBOR US + 3.58%), 5.65%, 05/15/53<sup>(b)(g)</sup>  |  | 1090 | 1040950 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11607519 |
| **Interactive Media & Services — 0.4%** |  |  |  |
|  Arches Buyer, Inc., 4.25%, 06/01/28<sup>(c)</sup>  |  | 143 | 122324 |
|  Cablevision Lightpath LLC<sup>(c)</sup>3.88%, 09/15/27 |  | 418 | 371497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/15/28 |  | 401 | 323872 |
|  Camelot Return Merger Sub, Inc., 8.75%, 08/01/28 |  | 269 | 250843 |
|  Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.<sup>(c)</sup>4.75%, 04/30/27 |  | 387 | 336123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/28<sup>(g)</sup>  |  | 277 | 212704 |
|  Twitter, Inc.<sup>(c)</sup>3.88%, 12/15/27 |  | 377 | 358715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/30 |  | 233 | 224907 |
|  United Group BV<sup>(e)</sup>4.88%, 07/01/24 | EUR | 100 | 97887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/27 |  | 100 | 82171 |
|  |  |  | 2381043 |
| **Internet & Direct Marketing Retail — 0.0%** |  |  |  |
|  Very Group Funding PLC, 6.50%, 08/01/26<sup>(e)</sup>  | GBP | 100 | 95049 |
| **Internet Software & Services — 1.4%** |  |  |  |
|  Airbnb, Inc., 0.00%, 03/15/26<sup>(i)(j)</sup>  | USD | 724 | 629880 |
|  ANGI Group LLC, 3.88%, 08/15/28<sup>(c)</sup>  |  | 340 | 277100 |
|  Booking Holdings, Inc., 0.75%, 05/01/25<sup>(i)</sup>  |  | 485 | 646766 |
|  Go Daddy Operating Co. LLC/GD Finance Co., Inc.<sup>(c)</sup>5.25%, 12/01/27 |  | 359 | 350147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/29 |  | 261 | 232349 |
|  Match Group Holdings II LLC<sup>(c)</sup>5.63%, 02/15/29 |  | 209 | 204820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/01/30 |  | 262 | 234364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/01/31 |  | 635 | 542442 |
|  Uber Technologies, Inc.<br>0.00%, 12/15/25<sup>(i)(j)</sup>  |  | 2019 | 1676607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/01/26<sup>(c)(g)</sup>  |  | 843 | 858261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/27<sup>(c)(g)</sup>  |  | 1157 | 1171463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/28<sup>(c)</sup>  |  | 366 | 359972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/29<sup>(c)</sup>  |  | 908 | 811552 |
|  Zillow Group, Inc., 1.38%, 09/01/26<sup>(i)</sup>  |  | 70 | 74375 |
|  |  |  | 8070098 |
| **IT Services — 1.2%** |  |  |  |
|  Ahead DB Holdings LLC,<br>6.63%, 05/01/28<sup>(c)</sup>  |  | 190 | 175387 |
|  Booz Allen Hamilton, Inc.<sup>(c)</sup>3.88%, 09/01/28 |  | 352 | 333858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/29 |  | 503 | 479844 |
|  CA Magnum Holdings, 5.38%, 10/31/26<sup>(c)</sup>  |  | 488 | 429440 |
|  Camelot Finance SA, 4.50%, 11/01/26<sup>(c)(g)</sup>  |  | 524 | 501264 |
|  Centurion Bidco SpA, 5.88%, 09/30/26<sup>(e)</sup>  | EUR | 100 | 93827 |
|  Condor Merger Sub, Inc., 7.38%, 02/15/30<sup>(c)</sup>  | USD | 1084 | 951725 |
|  Dun & Bradstreet Corp., 5.00%, 12/15/29<sup>(c)</sup>  |  | 642 | 598421 |

---

10.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **IT Services (continued)** |  |  |  |
|  Fair Isaac Corp., 4.00%, 06/15/28<sup>(c)</sup>  | USD | 459 | $428108 |
|  Gartner, Inc.<sup>(c)</sup>4.50%, 07/01/28 |  | 96 | 92381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/15/29 |  | 171 | 156156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/01/30<sup>(g)</sup>  |  | 485 | 445482 |
|  KBR, Inc., 4.75%, 09/30/28<sup>(c)</sup>  |  | 268 | 241870 |
|  La Financiere Atalian SASU, 5.13%, 05/15/25<sup>(e)</sup>  | EUR | 100 | 98727 |
|  Science Applications International Corp., 4.88%, 04/01/28<sup>(c)</sup>  | USD | 377 | 358636 |
|  Twilio, Inc., 3.88%, 03/15/31 |  | 735 | 651107 |
|  ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29<sup>(c)</sup>  |  | 1130 | 1011350 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;7047583 |
| **Leisure Products — 0.1%** |  |  |  |
|  Mattel, Inc.<br>3.75%, 04/01/29<sup>(c)</sup>  |  | 131 | 121011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 10/01/40 |  | 291 | 285180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/01/41 |  | 326 | 297246 |
|  |  |  | 703437 |
| **Machinery — 0.9%** |  |  |  |
|  ATS Automation Tooling Systems, Inc., 4.13%, 12/15/28<sup>(c)</sup>  |  | 139 | 123223 |
|  Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25<sup>(c)(g)(h)</sup>  |  | 587 | 571388 |
|  Madison IAQ LLC, 5.88%, 06/30/29<sup>(c)</sup>  |  | 399 | 311483 |
|  Mueller Water Products, Inc., 4.00%, 06/15/29<sup>(c)</sup>  |  | 177 | 161310 |
|  OT Merger Corp., 7.88%, 10/15/29<sup>(c)</sup>  |  | 147 | 102900 |
|  Renk AG/Frankfurt am Main, 5.75%, 07/15/25<sup>(e)</sup>  | EUR | 100 | 95562 |
|  Stevens Holding Co., Inc., 6.13%, 10/01/26<sup>(c)</sup>  | USD | 197 | 193600 |
|  Terex Corp., 5.00%, 05/15/29<sup>(c)</sup>  |  | 421 | 375692 |
|  Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26<sup>(c)(g)</sup>  |  | 1241 | 1110695 |
|  TK Elevator Holdco GmbH, 7.63%, 07/15/28<sup>(c)</sup>  |  | 552 | 499560 |
|  TK Elevator Midco GmbH, 4.38%, 07/15/27<sup>(e)</sup>  | EUR | 235 | 219904 |
|  TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27<sup>(c)(g)</sup>  | USD | 1748 | 1678080 |
|  |  |  | 5443397 |
| **Media — 9.0%** |  |  |  |
|  Altice Financing SA<br>3.00%, 01/15/28<sup>(e)</sup>  | EUR | 100 | 86363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/28<sup>(c)</sup>  | USD | 462 | 406893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/29<sup>(c)(g)</sup>  |  | 1368 | 1194223 |
|  Altice France Holding SA, 10.50%,<br>05/15/27<sup>(c)(g)</sup>  |  | 1864 | 1760362 |
|  AMC Entertainment Holdings, Inc., 7.50%, 02/15/29<sup>(c)</sup>  |  | 187 | 165942 |
|  AMC Networks, Inc.<br>5.00%, 04/01/24 |  | 16 | 15940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/25 |  | 331 | 317760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/29 |  | 157 | 138109 |
|  Block Communications, Inc., 4.88%, 03/01/28<sup>(c)</sup>  |  | 168 | 147420 |
|  Cable Onda SA, 4.50%, 01/30/30<sup>(e)</sup>  |  | 200 | 214875 |
|  Cable One, Inc.<br>1.13%, 03/15/28<sup>(i)</sup>  |  | 1312 | 1128320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/30<sup>(c)</sup>  |  | 385 | 342169 |
|  CCO Holdings LLC/CCO Holdings Capital Corp.<br>5.13%, 05/01/27<sup>(c)(g)</sup>  |  | 711 | 696389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/28<sup>(c)(g)</sup>  |  | 74 | 71410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/29<sup>(c)(g)</sup>  |  | 658 | 627041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(c)</sup>  |  | 368 | 334880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/30<sup>(c)(g)</sup>  |  | 1314 | 1168041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(c)(g)</sup>  |  | 1017 | 882247 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Media (continued)** |  |  |  |
|  CCO Holdings LLC/CCO Holdings Capital<br>Corp. (continued)<br>4.75%, 02/01/32<sup>(c)</sup>  | USD | 716 | $632317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/01/32 |  | 648 | 560241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/33<sup>(c)</sup>  |  | 332 | 280540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/34<sup>(c)</sup>  |  | 1265 | 1044934 |
|  Charter Communications Operating LLC/Charter |  |  |  |
|  Communications Operating Capital, 6.48%, 10/23/45<sup>(g)</sup>  |  | 3000 | 3012442 |
|  Clear Channel International BV, 6.63%, 08/01/25<sup>(c)</sup>  |  | 507 | 502183 |
|  Clear Channel Outdoor Holdings, Inc.<sup>(c)</sup>5.13%, 08/15/27 |  | 1930 | 1784903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 04/15/28 |  | 1291 | 1038377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/29<sup>(g)</sup>  |  | 1015 | 817075 |
|  CMG Media Corp., 8.88%, 12/15/27<sup>(c)(g)</sup>  |  | 997 | 797813 |
|  Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26<sup>(c)</sup>  |  | 2548 | 2492020 |
|  CSC Holdings LLC<br>5.25%, 06/01/24 |  | 633 | 626670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/29<sup>(c)</sup>  |  | 368 | 355709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/30<sup>(c)</sup>  |  | 855 | 690438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/30<sup>(c)</sup>  |  | 508 | 432024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/15/31<sup>(c)</sup>  |  | 200 | 160000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/31<sup>(c)(g)</sup>  |  | 783 | 665550 |
|  Directv Financing LLC/Directv Financing Co.<br>-Obligor, Inc., 5.88%, 08/15/27<sup>(c)</sup>  |  | 589 | 548707 |
|  Discovery Communications LLC, 4.95%, 05/15/42<sup>(g)</sup>  |  | 400 | 346262 |
|  DISH DBS Corp.<br>5.00%, 03/15/23 |  | 49 | 48081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 07/01/26<sup>(g)</sup>  |  | 1070 | 887565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/01/26<sup>(c)(g)</sup>  |  | 1465 | 1267225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/01/28<sup>(c)</sup>  |  | 1143 | 927259 |
|  Frontier Communications Holdings LLC<sup>(c)</sup>5.88%, 10/15/27<sup>(g)</sup>  |  | 387 | 381249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/28 |  | 939 | 882416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/01/29 |  | 544 | 484160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/30 |  | 340 | 285624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 05/15/30 |  | 658 | 698724 |
|  GCI LLC, 4.75%, 10/15/28<sup>(c)</sup>  |  | 255 | 232407 |
|  iHeartCommunications, Inc.<br>6.38%, 05/01/26 |  | 192 | 186654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/27<sup>(c)</sup>  |  | 213 | 194725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28<sup>(c)</sup>  |  | 96 | 86244 |
|  Iliad Holding SASU<sup>(c)</sup>6.50%, 10/15/26 |  | 622 | 597027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/15/28 |  | 608 | 583592 |
|  Kaixo Bondco Telecom SA, 5.13%, 09/30/29<sup>(e)</sup>  | EUR | 100 | 88224 |
|  Lamar Media Corp.<br>3.75%, 02/15/28 | USD | 50 | 47000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/30 |  | 163 | 150066 |
|  LCPR Senior Secured Financing DAC<sup>(c)</sup>6.75%, 10/15/27 |  | 180 | 174741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/15/29<sup>(g)</sup>  |  | 921 | 808055 |
|  Liberty Broadband Corp.<sup>(c)(i)</sup>1.25%, 09/30/50 |  | 528 | 491040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/30/50 |  | 1018 | 971880 |
|  Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23<sup>(c)(h)</sup>  |  | 304 | 161322 |
|  Lions Gate Capital Holdings LLC, 5.50%, 04/15/29<sup>(c)</sup>  |  | 962 | 783101 |

---

S C H E D U L E O F I N V E S T M E N T S 11

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Media (continued)** |  |  |  |
|  Liquid Telecommunications Financing PLC, 5.50%, 09/04/26<sup>(c)</sup>  | USD | 200 | $174412 |
|  Live Nation Entertainment, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/01/24 |  | 40 | 39854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/15/27<sup>(g)</sup>  |  | 1647 | 1690234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/27 |  | 605 | 576262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/28 |  | 253 | 231435 |
|  Lorca Telecom Bondco SA, 4.00%, 09/18/27<sup>(e)</sup>  | EUR | 100 | 93280 |
|  Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27<sup>(c)</sup>  | USD | 209 | 197505 |
|  Network i2i Ltd., (5 year CMT + 4.27%),<br>5.65%<sup>(b)(e)(k)</sup>  |  | 250 | 239950 |
|  Outfront Media Capital LLC/Outfront Media Capital Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/27 |  | 501 | 473280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 |  | 183 | 156407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/30 |  | 19 | 16052 |
|  Paramount Global, 5.85%, 09/01/43<sup>(g)</sup>  |  | 645 | 623788 |
|  Pinewood Finance Co. Ltd., 3.25%, 09/30/25<sup>(e)</sup>  | GBP | 100 | 110211 |
|  Radiate Holdco LLC/Radiate Finance, Inc.<sup>(c)(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/26 | USD | 932 | 861541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/15/28 |  | 2274 | 1804351 |
|  Sable International Finance Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/07/27<sup>(e)</sup>  |  | 279 | 246217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/07/27<sup>(c)</sup>  |  | 200 | 176500 |
|  Scripps Escrow II, Inc., 3.88%, 01/15/29<sup>(c)</sup>  |  | 114 | 102273 |
|  Sinclair Television Group, Inc., 4.13%, 12/01/30<sup>(c)</sup>  |  | 643 | 546634 |
|  Sirius XM Radio, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/01/26 |  | 627 | 590991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/27 |  | 292 | 289597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/28 |  | 445 | 413405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/29 |  | 349 | 342892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/01/30<sup>(g)</sup>  |  | 139 | 125496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/01/31 |  | 571 | 496770 |
|  Stagwell Global LLC, 5.63%, 08/15/29<sup>(c)</sup>  |  | 129 | 108035 |
|  Summer BC Holdco B SARL, 5.75%, 10/31/26<sup>(e)</sup>  | EUR | 100 | 94766 |
|  Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28<sup>(c)</sup>  | USD | 400 | 360700 |
|  Univision Communications, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/25 |  | 110 | 106975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/01/27 |  | 132 | 132330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 06/30/30 |  | 166 | 168093 |
|  UPC Broadband Finco BV, 4.88%,<br>07/15/31<sup>(c)(g)</sup>  |  | 574 | 507508 |
|  Videotron Ltd., 3.63%, 06/15/29<sup>(c)</sup>  |  | 336 | 293167 |
|  Virgin Media Secured Finance PLC, 4.50%, 08/15/30<sup>(c)(g)</sup>  |  | 399 | 359100 |
|  VTR Comunicaciones SpA, 4.38%, 04/15/29<sup>(c)</sup>  |  | 290 | 179800 |
|  VZ Secured Financing BV, 3.50%, 01/15/32<sup>(e)</sup>  | EUR | 100 | 83901 |
|  Ziggo Bond Co. BV<sup>(c)(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/27 | USD | 638 | 614298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/28/30 |  | 295 | 251487 |
|  Ziggo BV, 4.88%, 01/15/30<sup>(c)</sup>  |  | 217 | 200324 |
|  |  |  | 51984791 |
| **Metals & Mining — 2.4%** |  |  |  |
|  ABJA Investment Co. Pte Ltd., 5.95%, 07/31/24<sup>(e)</sup>  |  | 250 | 251875 |
|  AngloGold Ashanti Holdings PLC, 3.75%, 10/01/30 |  | 400 | 338923 |
|  Arconic Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/25 |  | 361 | 363629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/28 |  | 488 | 487722 |
|  ATI, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/29 |  | 129 | 110379 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Metals & Mining (continued)** |  |  |  |
|  ATI, Inc. (continued)<br>5.13%, 10/01/31 | USD | 350 | $287240 |
|  BHP Billiton Finance USA Ltd., 4.13%, 02/24/42<sup>(g)</sup>  |  | 250 | 241354 |
|  Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29<sup>(c)(g)</sup>  |  | 1363 | 1395964 |
|  Carpenter Technology Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/15/28 |  | 57 | 52975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/15/30 |  | 391 | 356009 |
|  Commercial Metals Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/15/30 |  | 90 | 78921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/32 |  | 96 | 82285 |
|  Constellium SE<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/26<sup>(g)</sup>  |  | 1193 | 1157920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/28 |  | 250 | 225374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/29<sup>(g)</sup>  |  | 1645 | 1402362 |
|  FMG Resources August Pty. Ltd., 6.13%, 04/15/32<sup>(c)</sup>  |  | 519 | 493309 |
|  JSW Steel Ltd., 5.95%, 04/18/24<sup>(e)</sup>  |  | 200 | 196750 |
|  Kaiser Aluminum Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/01/28 |  | 281 | 240089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/31 |  | 770 | 620466 |
|  Metinvest BV<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 04/23/26 |  | 302 | 116308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.65%, 10/01/27 |  | 200 | 78163 |
|  Mineral Resources Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/01/27 |  | 162 | 164596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 05/01/30 |  | 165 | 167063 |
|  New Gold, Inc., 7.50%, 07/15/27<sup>(c)(g)</sup>  |  | 900 | 706500 |
|  Nexa Resources SA, 5.38%, 05/04/27<sup>(c)(g)</sup>  |  | 200 | 189662 |
|  Novelis Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/26 |  | 835 | 777018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/30/30 |  | 1059 | 979612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/31 |  | 995 | 850725 |
|  Novelis Sheet Ingot GmbH, 3.38%, 04/15/29<sup>(e)</sup>  | EUR | 200 | 171255 |
|  Rio Tinto Finance USA PLC, 4.75%, 03/22/42<sup>(g)</sup>  | USD | 400 | 414546 |
|  Roller Bearing Co. of America, Inc., 4.38%, 10/15/29<sup>(c)</sup> |  | 155 | 140515 |
|  thyssenkrupp AG, 2.88%, 02/22/24<sup>(e)</sup>  | EUR | 100 | 100059 |
|  U.S. Steel Corp., 6.88%, 03/01/29<sup>(g)</sup>  | USD | 438 | 420664 |
|  Vedanta Resources Finance II PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 13.88%, 01/21/24<sup>(e)</sup>  |  | 200 | 171912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.95%, 03/11/25<sup>(c)</sup>  |  | 320 | 235200 |
|  |  |  | 14067344 |
| **Multiline Retail — 0.1%** |  |  |  |
|  NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26<sup>(c)</sup>  |  | 506 | 495172 |
| **Offshore Drilling & Other Services<sup>(c)</sup> — 0.4%** |  |  |  |
|  Entegris Escrow Corp., 4.75%, 04/15/29<sup>(g)</sup>  |  | 1842 | 1773514 |
|  Entegris, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/28 |  | 223 | 210271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/01/29 |  | 142 | 125994 |
|  |  |  | 2109779 |
| **Oil, Gas & Consumable Fuels — 12.3%** |  |  |  |
|  Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26<sup>(c)(g)</sup>  |  | 1057 | 1092462 |
|  Antero Midstream Partners LP/Antero Midstream Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/27 |  | 382 | 380195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/28 |  | 75 | 73643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/29 |  | 263 | 256923 |
|  Antero Resources Corp., 7.63%, 02/01/29<sup>(c)</sup>  |  | 269 | 283459 |

---

12.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** |  |  |  |
|  Apache Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/30 | USD | 315 | $303488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/01/40<sup>(g)</sup>  |  | 757 | 673253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/42 |  | 114 | 99179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/43<sup>(g)</sup>  |  | 800 | 655164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/01/49 |  | 83 | 69280 |
|  Arcosa, Inc., 4.38%, 04/15/29<sup>(c)</sup>  |  | 477 | 423230 |
|  Ascent Resources Utica Holdings LLC/ARU Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 11/01/27<sup>(g)</sup>  |  | 1132 | 1371189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/30/29 |  | 131 | 115078 |
|  Buckeye Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/25<sup>(c)</sup>  |  | 345 | 332925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/43 |  | 182 | 132860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/44 |  | 117 | 85995 |
|  Callon Petroleum Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/01/26 |  | 152 | 145718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 08/01/28<sup>(c)(g)</sup>  |  | 739 | 748237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/15/30<sup>(c)</sup>  |  | 703 | 674240 |
|  Cellnex Telecom SA, Series CLNX, 0.75%, 11/20/31<sup>(e)(i)</sup>  | EUR | 200 | 162055 |
|  Centennial Resource Production LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/01/27<sup>(c)</sup>  | USD | 59 | 56240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/01/28<sup>(i)</sup>  |  | 610 | 794525 |
|  Cheniere Energy Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/29<sup>(g)</sup>  |  | 1139 | 1103503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/31 |  | 520 | 483179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/31/32 |  | 668 | 582830 |
|  Cheniere Energy, Inc., 4.63%, 10/15/28 |  | 2416 | 2352338 |
|  Chesapeake Energy Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/01/29 |  | 53 | 53272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/15/29<sup>(g)</sup>  |  | 662 | 685733 |
|  Citgo Holding, Inc., 9.25%, 08/01/24<sup>(c)</sup>  |  | 344 | 342280 |
|  Civitas Resources, Inc., 5.00%, 10/15/26<sup>(c)</sup>  |  | 113 | 106141 |
|  CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(c)</sup>  |  | 124 | 106890 |
|  CNX Resources Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/01/26<sup>(i)</sup>  |  | 637 | 963462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/29<sup>(c)</sup>  |  | 139 | 135178 |
|  Colgate Energy Partners III LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/26 |  | 584 | 572954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/01/29<sup>(g)</sup>  |  | 452 | 413729 |
|  Comstock Resources, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/29<sup>(g)</sup>  |  | 662 | 655380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/15/30 |  | 1179 | 1107694 |
|  CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31<sup>(c)</sup>  |  | 1969 | 1866041 |
|  Crescent Energy Finance LLC, 7.25%, 05/01/26<sup>(c)(g)</sup>  |  | 902 | 834350 |
|  Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/01/27 |  | 67 | 64320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/29 |  | 59 | 53750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/01/29 |  | 116 | 114675 |
|  CrownRock LP/CrownRock Finance, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/15/25<sup>(g)</sup>  |  | 1403 | 1400924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/29 |  | 56 | 52016 |
|  DCP Midstream Operating LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/29 |  | 33 | 32312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 11/03/36<sup>(c)(g)</sup>  |  | 182 | 181545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/37<sup>(c)(g)</sup>  |  | 323 | 319770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/44 |  | 7 | 6058 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** |  |  |  |
|  DT Midstream, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/29 | USD | 521 | $482321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/15/31 |  | 657 | 589657 |
|  Dycom Industries, Inc., 4.50%, 04/15/29<sup>(c)</sup>  |  | 130 | 119250 |
|  Earthstone Energy Holdings LLC, 8.00%, 04/15/27<sup>(c)</sup>  |  | 373 | 356331 |
|  Ecopetrol SA, 4.63%, 11/02/31 |  | 370 | 302475 |
|  eG Global Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/07/25<sup>(c)</sup>  |  | 452 | 432519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/30/25<sup>(e)</sup>  | EUR | 142 | 134566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/30/25<sup>(c)</sup>  | USD | 299 | 292799 |
|  Enbridge, Inc.<sup>(b)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo. LIBOR US + 3.64%), 6.25%, 03/01/78 |  | 1865 | 1769572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, (5 year CMT + 5.31%), 5.75%, 07/15/80 |  | 690 | 649911 |
|  Endeavor Energy Resources LP/EER Finance, Inc., 5.75%, 01/30/28<sup>(c)</sup>  |  | 567 | 567873 |
|  Energy Transfer LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/45<sup>(g)</sup>  |  | 500 | 494921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/15/47<sup>(g)</sup>  |  | 350 | 314557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series H, (5 year CMT + 5.69%), 6.50%<sup>(b)(k)</sup>  |  | 894 | 811305 |
|  EnLink Midstream LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/15/28<sup>(c)</sup>  |  | 450 | 436797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/29 |  | 526 | 499479 |
|  EnLink Midstream Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/01/24 |  | 281 | 281478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/45 |  | 49 | 36125 |
|  Enterprise Products Operating LLC, (3 mo. LIBOR US + 2.57%), 5.38%, 02/15/78<sup>(b)</sup>  |  | 420 | 336569 |
|  EQM Midstream Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/26 |  | 131 | 120761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29<sup>(c)</sup>  |  | 34 | 30430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/30<sup>(c)</sup>  |  | 108 | 111146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/31<sup>(c)(g)</sup>  |  | 1055 | 953087 |
|  EQT Corp., 1.75%, 05/01/26<sup>(i)</sup>  |  | 248 | 743256 |
|  General Motors Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/25 |  | 68 | 66858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/15/26 |  | 160 | 158315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/44 |  | 274 | 213115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/47 |  | 78 | 59443 |
|  Genesis Energy LP/Genesis Energy Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/25<sup>(g)</sup>  |  | 53 | 51351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/01/28 |  | 144 | 138931 |
|  Gulfport Energy Corp., 8.00%, 05/17/26<sup>(c)</sup>  |  | 47 | 47227 |
|  Harvest Midstream I LP, 7.50%, 09/01/28<sup>(c)</sup>  |  | 78 | 74515 |
|  Hess Corp., 4.30%, 04/01/27<sup>(g)</sup>  |  | 750 | 744616 |
|  Hess Midstream Operations LP, 4.25%, 02/15/30<sup>(c)</sup>  |  | 305 | 271700 |
|  Hilcorp Energy I LP/Hilcorp Finance Co.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/01/28 |  | 188 | 182068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/29 |  | 33 | 30113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/30 |  | 35 | 31763 |
|  Hilong Holding Ltd., 9.75%, 11/18/24<sup>(e)</sup>  |  | 207 | 99399 |
|  HPCL-Mittal Energy Ltd., 5.45%, 10/22/26<sup>(e)</sup>  |  | 200 | 184000 |
|  HTA Group Ltd., 7.00%, 12/18/25<sup>(c)</sup>  |  | 431 | 382728 |
|  IHS Holding Ltd., 6.25%, 11/29/28<sup>(c)</sup>  |  | 200 | 163000 |
|  Impulsora Pipeline LLC, 6.05%, 01/01/43 |  | 1546 | 1406692 |
|  ITT Holdings LLC, 6.50%, 08/01/29<sup>(c)</sup>  |  | 437 | 375538 |
|  Kinder Morgan Energy Partners LP, 4.25%, 09/01/24<sup>(g)</sup>  |  | 2500 | 2517641 |
|  Kinetik Holdings LP, 5.88%, 06/15/30<sup>(c)</sup>  |  | 709 | 720195 |
|  Leviathan Bond Ltd., 5.75%, 06/30/23<sup>(c)(e)</sup>  |  | 169 | 169540 |

---

S C H E D U L E O F I N V E S T M E N T S 13

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** |  |  |  |
|  Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26<sup>(c)</sup>  | USD | 95 | $90531 |
|  Matador Resources Co., 5.88%, 09/15/26<sup>(g)</sup>  |  | 1251 | 1272892 |
|  MC Brazil Downstream Trading Sarl, 7.25%, 06/30/31<sup>(c)</sup>  |  | 320 | 256000 |
|  Medco Bell Pte. Ltd., 6.38%, 01/30/27<sup>(e)</sup>  |  | 250 | 222188 |
|  MPLX LP, 4.25%, 12/01/27 |  | 235 | 233033 |
|  Murphy Oil Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/25 |  | 2 | 2005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/27 |  | 25 | 24719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/01/42 |  | 35 | 27475 |
|  Murphy Oil USA, Inc., 4.75%, 09/15/29 |  | 171 | 165420 |
|  Nabors Industries Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 01/15/26 |  | 109 | 98918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/15/28 |  | 179 | 155712 |
|  Nabors Industries, Inc., 7.38%, 05/15/27<sup>(c)</sup>  |  | 423 | 418770 |
|  Neptune Energy Bondco PLC, 6.63%, 05/15/25<sup>(c)</sup>  |  | 200 | 193280 |
|  New Fortress Energy, Inc.<sup>(c)(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/25 |  | 1201 | 1172476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/30/26 |  | 1134 | 1073955 |
|  NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26<sup>(c)(g)</sup>  |  | 470 | 429378 |
|  NGPL PipeCo LLC, 7.77%, 12/15/37<sup>(c)(g)</sup>  |  | 270 | 301677 |
|  Northern Oil & Gas, Inc., 8.13%, 03/01/28<sup>(c)(g)</sup>  |  | 1054 | 1019745 |
|  NuStar Logistics LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/01/26 |  | 234 | 230024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/01/30 |  | 30 | 27657 |
|  Occidental Petroleum Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 07/01/24 |  | 81 | 85001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 07/15/25 |  | 46 | 50617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/01/25 |  | 150 | 152813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/25 |  | 195 | 199421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 07/15/30 |  | 197 | 235908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/01/30 |  | 1082 | 1200365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/01/31 |  | 100 | 107168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/01/31 |  | 182 | 211034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/15/36 |  | 417 | 463758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/40 |  | 860 | 880767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 03/15/46 |  | 49 | 54145 |
|  Odebrecht Offshore Drilling Finance Ltd., (7.72% PIK), 7.72%, 12/01/26<sup>(c)(h)</sup>  |  | — <sup>(d)</sup> | 140 |
|  Oil & Gas Holding Co., 7.63%, 11/07/24<sup>(e)</sup>  |  | 200 | 201850 |
|  OQ SAOC, 5.13%, 05/06/28<sup>(c)</sup>  |  | 300 | 284775 |
|  PDC Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/24 |  | 89 | 88560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/26 |  | 292 | 285430 |
|  Pertamina Persero PT, 3.65%, 07/30/29<sup>(e)</sup>  |  | 646 | 604737 |
|  Petroleos Mexicanos |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/13/27<sup>(g)</sup>  |  | 538 | 486029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 06/02/29<sup>(c)</sup>  |  | 529 | 496519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/28/31 |  | 525 | 405563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 02/16/32 |  | 285 | 227216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 01/23/45 |  | 177 | 117926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/21/47 |  | 290 | 196693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.69%, 01/23/50 |  | 66 | 47850 |
|  Pioneer Natural Resources Co., 0.25%, 05/15/25<sup>(i)</sup>  |  | 361 | 828856 |
|  Puma International Financing SA, 5.13%, 10/06/24<sup>(c)</sup>  |  | 483 | 435907 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** |  |  |  |
|  Range Resources Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/23 | USD | 145 | $145560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/25 |  | 18 | 17962 |
|  Rockcliff Energy II LLC, 5.50%, 10/15/29<sup>(c)</sup>  |  | 479 | 462700 |
|  Shell International Finance BV, 4.38%, 05/11/45<sup>(g)</sup>  |  | 450 | 443826 |
|  SM Energy Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/01/25 |  | 72 | 70830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/26 |  | 161 | 159390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/27 |  | 44 | 43835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/15/28 |  | 230 | 226640 |
|  Southwestern Energy Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/01/29 |  | 296 | 289340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 |  | 206 | 192095 |
|  Suncor Energy, Inc., 6.50%, 06/15/38<sup>(g)</sup>  |  | 800 | 897041 |
|  Sunoco LP/Sunoco Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/27 |  | 75 | 74621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/28 |  | 147 | 140658 |
|  Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/01/27 |  | 53 | 49237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/30 |  | 36 | 32445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/01/31 |  | 168 | 151368 |
|  Tap Rock Resources LLC, 7.00%, 10/01/26<sup>(c)</sup>  |  | 982 | 927990 |
|  Transocean, Inc., 11.50%, 01/30/27<sup>(c)</sup>  |  | 195 | 184785 |
|  Venture Global Calcasieu Pass LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/29 |  | 1058 | 976238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/31 |  | 1123 | 1035282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/33 |  | 2459 | 2134756 |
|  Vermilion Energy, Inc., 6.88%, 05/01/30<sup>(c)</sup>  |  | 204 | 196836 |
|  Vivo Energy Investments BV, 5.13%, 09/24/27<sup>(c)</sup>  |  | 349 | 327188 |
|  Western Midstream Operating LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/44<sup>(g)</sup>  |  | 934 | 835911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/48 |  | 43 | 37708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/48 |  | 103 | 89795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/01/50<sup>(g)</sup>  |  | 978 | 874924 |
|  Williams Cos, Inc., 4.50%, 11/15/23<sup>(g)</sup>  |  | 1750 | 1763884 |
|  |  |  | 71023343 |
| **Personal Products — 0.0%** |  |  |  |
|  Coty, Inc., 3.88%, 04/15/26<sup>(e)</sup>  | EUR | 100 | 97837 |
| **Pharmaceuticals — 1.4%** |  |  |  |
|  AbbVie, Inc.<sup>(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/45 | USD | 500 | 494495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/14/46 |  | 1000 | 955283 |
|  Cheplapharm Arzneimittel GmbH, 3.50%, 02/11/27<sup>(e)</sup>  | EUR | 100 | 91732 |
|  CVS Health Corp., 5.05%, 03/25/48<sup>(g)</sup>  | USD | 1110 | 1127472 |
|  Elanco Animal Health, Inc., 6.40%, 08/28/28 |  | 316 | 323110 |
|  Gruenenthal GmbH, 4.13%, 05/15/28<sup>(e)</sup>  | EUR | 100 | 92236 |
|  Jazz Securities DAC, 4.38%, 01/15/29<sup>(c)</sup>  | USD | 706 | 679772 |
|  Nidda Healthcare Holding GmbH, 3.50%, 09/30/24<sup>(e)</sup>  | EUR | 100 | 94802 |
|  Option Care Health, Inc., 4.38%, 10/31/29<sup>(c)</sup>  | USD | 314 | 286525 |
|  Organon & Co./Organon Foreign Debt Co-Issuer BV<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/30/28 |  | 1153 | 1090161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/30/31 |  | 1216 | 1138480 |
|  P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25<sup>(c)</sup>  |  | 339 | 227130 |
|  PRA Health Sciences, Inc., 2.88%, 07/15/26<sup>(c)</sup>  |  | 563 | 533212 |
|  Prestige Brands, Inc., 3.75%, 04/01/31<sup>(c)</sup>  |  | 190 | 163400 |
|  Rossini Sarl, 6.75%, 10/30/25<sup>(e)</sup>  | EUR | 166 | 170424 |

---

14.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Pharmaceuticals (continued)** |  |  |  |  |
|  Teva Pharmaceutical Finance Netherlands II BV, 6.00%, 01/31/25 | EUR | 100 | $| 104683 |
|  Teva Pharmaceutical Finance Netherlands III BV, 7.13%, 01/31/25 | USD | 200 |  | 203413 |
|  Utah Acquisition Sub, Inc., 3.95%, 06/15/26<sup>(g)</sup>  |  | 650 |  | 615195 |
|  |  |  |  | 8391525 |
| **Real Estate — 0.0%** |  |  |  |  |
|  VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28<sup>(c)</sup>  |  | 128 |  | 119337 |
| **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** |
|  Adler Group SA, 2.75%, 11/13/26<sup>(e)</sup>  | EUR | 200 |  | 109359 |
|  Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26<sup>(c)</sup>  | USD | 325 |  | 292967 |
|  China Aoyuan Group Ltd.<sup>(e)(f)(l)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/08/24 |  | 435 |  | 23925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.98%, 08/18/25 |  | 200 |  | 13100 |
|  CIFI Holdings Group Co. Ltd., 6.00%, 07/16/25<sup>(e)</sup>  |  | 200 |  | 74000 |
|  Country Garden Holdings Co. Ltd., 6.50%, 04/08/24<sup>(e)</sup>  |  | 200 |  | 83000 |
|  DIC Asset AG, 2.25%, 09/22/26<sup>(e)</sup>  | EUR | 100 |  | 73435 |
|  Fantasia Holdings Group Co. Ltd.<sup>(e)(f)(l)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 04/17/22 | USD | 430 |  | 32250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.25%, 10/18/22 |  | 200 |  | 15000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.88%, 06/01/23 |  | 200 |  | 15000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 07/28/23 |  | 400 |  | 30000 |
|  Fastighets AB Balder, (5 year EUR Swap + 3.19%), 2.87%, 06/02/81<sup>(b)(e)</sup>  | EUR | 100 |  | 69499 |
|  Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25<sup>(c)</sup>  | USD | 41 |  | 34850 |
|  Global Prime Capital Pte. Ltd., 5.50%, 10/18/23<sup>(e)</sup>  |  | 200 |  | 196413 |
|  Greystar Real Estate Partners LLC, 5.75%, 12/01/25<sup>(c)</sup>  |  | 120 |  | 119891 |
|  Heimstaden Bostad AB, (5 year EUR Swap + 3.15%), 2.63%<sup>(b)(e)(k)</sup>  | EUR | 100 |  | 71705 |
|  Howard Hughes Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/01/28 | USD | 237 |  | 221913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/01/29 |  | 189 |  | 162575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/31 |  | 176 |  | 149039 |
|  Jingrui Holdings Ltd., 12.00%, 07/25/22<sup>(f)(l)</sup>  |  | 200 |  | 38732 |
|  KWG Group Holdings Ltd., 7.40%, 03/05/24<sup>(e)</sup>  |  | 390 |  | 48750 |
|  MAF Sukuk Ltd.<sup>(e)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 05/14/29<sup>(g)</sup>  |  | 325 |  | 324959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.93%, 02/28/30 |  | 262 |  | 251405 |
|  Modern Land China Co. Ltd., 9.80%,<br>04/11/23<sup>(a)(e)(f)(l)</sup>  |  | 200 |  | 32000 |
|  Realogy Group LLC/Realogy Co.-Issuer Corp.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/29 |  | 375 |  | 306240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/30 |  | 173 |  | 137985 |
|  Redsun Properties Group Ltd., 10.50%, 10/03/22<sup>(e)</sup>  |  | 200 |  | 18000 |
|  Ronshine China Holdings Ltd., 7.35%, 12/15/23<sup>(e)(f)(l)</sup>  |  | 23 |  | 1610 |
|  Shimao Group Holdings Ltd., 3.45%,<br>01/11/31<sup>(e)(f)(g)(l)</sup>  |  | 200 |  | 15100 |
|  Shui On Development Holding Ltd., 5.75%, 11/12/23<sup>(e)</sup>  |  | 200 |  | 171000 |
|  Sinic Holdings Group Co. Ltd., 10.50%, 12/18/22<sup>(a)(f)(l)</sup>  |  | 200 |  | 4000 |
|  Starwood Property Trust, Inc., 4.38%, 01/15/27<sup>(c)</sup>  |  | 99 |  | 90744 |
|  Theta Capital Pte. Ltd., 8.13%, 01/22/25<sup>(e)</sup>  |  | 200 |  | 160413 |
|  Times China Holdings Ltd., 6.75%, 07/08/25<sup>(e)</sup>  |  | 200 |  | 22000 |
|  Yuzhou Group Holdings Co. Ltd.<sup>(e)(f)(l)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.70%, 02/20/25 |  | 200 |  | 14000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.30%, 05/27/25 |  | 200 |  | 14000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |
|  Yuzhou Group Holdings Co. Ltd.<sup>(e)(f)(l)</sup> (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 01/13/26 | USD | 205 | $| 14350 |
|  Zhenro Properties Group Ltd., 7.88%,<br>04/14/24<sup>(e)(f)(l)</sup>  |  | 200 |  | 12000 |
|  |  |  |  | 3465209 |
| **Road & Rail — 0.5%** |  |  |  |  |
|  Autostrade per l'Italia SpA, 2.00%, 01/15/30<sup>(e)</sup>  | EUR | 100 |  | 85630 |
|  Burlington Northern Santa Fe LLC, 4.38%, 09/01/42<sup>(g)</sup>  | USD | 500 |  | 495921 |
|  Danaos Corp., 8.50%, 03/01/28<sup>(c)</sup>  |  | 100 |  | 99955 |
|  Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34<sup>(c)(g)</sup>  |  | 1920 |  | 1872240 |
|  Seaspan Corp., 5.50%, 08/01/29<sup>(c)</sup>  |  | 444 |  | 347430 |
|  Union Pacific Corp., 3.20%, 05/20/41 |  | 275 |  | 237010 |
|  |  |  |  | 3138186 |
| **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** |
|  ams AG, 6.00%, 07/31/25<sup>(e)</sup>  | EUR | 100 |  | 95868 |
|  Broadcom, Inc., 3.46%, 09/15/26<sup>(g)</sup>  | USD | 688 |  | 673969 |
|  Microchip Technology, Inc.<sup>(i)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 11/15/24 |  | 411 |  | 425591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 02/15/25 |  | 102 |  | 294079 |
|  Qualcomm, Inc., 4.65%, 05/20/35<sup>(g)</sup>  |  | 400 |  | 427795 |
|  Sensata Technologies BV<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/25 |  | 368 |  | 369910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 |  | 216 |  | 196409 |
|  Sensata Technologies, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/30<sup>(g)</sup>  |  | 818 |  | 759248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/31 |  | 44 |  | 38231 |
|  Synaptics, Inc., 4.00%, 06/15/29<sup>(c)</sup>  |  | 287 |  | 250465 |
|  |  |  |  | 3531565 |
| **Software — 1.5%** |  |  |  |  |
|  ACI Worldwide, Inc., 5.75%, 08/15/26<sup>(c)(g)</sup>  |  | 510 |  | 499081 |
|  Black Knight InfoServ LLC, 3.63%, 09/01/28<sup>(c)</sup>  |  | 501 |  | 463425 |
|  Boxer Parent Co., Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/02/25<sup>(e)</sup>  | EUR | 100 |  | 97912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/02/25<sup>(c)</sup>  | USD | 761 |  | 746195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 03/01/26<sup>(c)</sup>  |  | 194 |  | 185277 |
|  Cedacri Mergeco SpA, (3 mo. EURIBOR + 4.63%), 4.63%, 05/15/28<sup>(b)(e)</sup>  | EUR | 100 |  | 95032 |
|  Central Parent, Inc./Central Merger Sub, Inc., 7.25%, 06/15/29<sup>(c)</sup> | USD | 796 |  | 809054 |
|  Elastic NV, 4.13%, 07/15/29<sup>(c)</sup>  |  | 481 |  | 428268 |
|  Helios Software Holdings, Inc./ION Corporate |  |  |  |  |
|  Solutions Finance Sarl, 4.63%, 05/01/28<sup>(c)</sup>  |  | 400 |  | 318114 |
|  Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32<sup>(c)</sup>  |  | 294 |  | 265084 |
|  MicroStrategy, Inc., 6.13%, 06/15/28<sup>(c)(g)</sup>  |  | 577 |  | 500548 |
|  MSCI, Inc.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/29 |  | 99 |  | 93280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/01/30 |  | 197 |  | 179861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/31<sup>(g)</sup>  |  | 374 |  | 340381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 11/01/31 |  | 164 |  | 145997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/33 |  | 233 |  | 201855 |
|  Open Text Corp.<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/28 |  | 179 |  | 164673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/01/29 |  | 339 |  | 305149 |
|  Open Text Holdings, Inc., 4.13%, 02/15/30<sup>(c)</sup>  |  | 378 |  | 349346 |
|  Oracle Corp., 3.60%, 04/01/50 |  | 250 |  | 182213 |
|  Playtika Holding Corp., 4.25%, 03/15/29<sup>(c)</sup>  |  | 501 |  | 449417 |
|  PTC, Inc., 4.00%, 02/15/28<sup>(c)</sup>  |  | 242 |  | 229532 |

---

S C H E D U L E O F I N V E S T M E N T S 15

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* | *Value* |
|  **Software (continued)** |  |  |  |  |
|  SS&C Technologies, Inc., 5.50%,<br>09/30/27<sup>(c)(g)</sup>  | USD | 1452 | $| 1430249 |
|  Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25<sup>(c)</sup>  |  | 432 |  | 364641 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8844584 |
|  **Specialty Retail — 0.4%** |  |  |  |  |
|  Arko Corp., 5.13%, 11/15/29<sup>(c)</sup>  |  | 232 |  | 194899 |
|  National Vision Holdings, Inc., 2.50%, 05/15/25<sup>(i)</sup>  |  | 311 |  | 360190 |
|  PetSmart, Inc./PetSmart Finance Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/28 |  | 436 |  | 413755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/29<sup>(g)</sup>  |  | 895 |  | 861635 |
|  Staples, Inc., 7.50%, 04/15/26<sup>(c)(g)</sup>  |  | 526 |  | 465510 |
|  Tendam Brands SAU, (3 mo. EURIBOR + 5.25%), 5.52%, 09/15/24<sup>(b)(e)</sup>  | EUR | 100 |  | 97350 |
|  |  |  |  | 2393339 |
| **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** |
|  II-VI, Inc., 5.00%, 12/15/29<sup>(c)</sup>  | USD | 924 |  | 880110 |
| **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** |
|  Crocs, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/29 |  | 32 |  | 26246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/31 |  | 191 |  | 148069 |
|  Kontoor Brands, Inc., 4.13%, 11/15/29 |  | 126 |  | 106252 |
|  Levi Strauss & Co., 3.50%, 03/01/31 |  | 244 |  | 220520 |
|  William Carter Co., 5.63%, 03/15/27 |  | 28 |  | 27773 |
|  |  |  |  | 528860 |
| **Thrifts & Mortgage Finance — 0.3%** |  |  |  |  |
|  doValue SpA, 3.38%, 07/31/26<sup>(e)</sup>  | EUR | 100 |  | 87431 |
|  Home Point Capital, Inc., 5.00%, 02/01/26<sup>(c)</sup>  | USD | 247 |  | 169699 |
|  Jerrold Finco PLC, 5.25%, 01/15/27<sup>(e)</sup>  | GBP | 100 |  | 101991 |
|  MGIC Investment Corp., 5.25%, 08/15/28 | USD | 216 |  | 207900 |
|  Nationstar Mortgage Holdings, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/27 |  | 237 |  | 219495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/30 |  | 136 |  | 113093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/31 |  | 125 |  | 104531 |
|  Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc., 2.88%, 10/15/26<sup>(c)</sup>  |  | 566 |  | 499857 |
|  |  |  |  | 1503997 |
| **Tobacco<sup>(g)</sup> — 0.3%** |  |  |  |  |
|  Altria Group, Inc., 4.50%, 05/02/43 |  | 750 |  | 574625 |
|  Philip Morris International, Inc., 4.38%, 11/15/41 |  | 900 |  | 768962 |
|  Reynolds American, Inc., 5.85%, 08/15/45 |  | 715 |  | 629334 |
|  |  |  |  | 1972921 |
| **Transportation — 0.0%** |  |  |  |  |
|  Autostrade per l'Italia SpA, 2.00%, 12/04/28<sup>(e)</sup>  | EUR | 100 |  | 89134 |
| **Transportation Infrastructure — 0.5%** |  |  |  |  |
|  Aeropuerto Internacional de Tocumen SA, 5.13%, 08/11/61<sup>(c)</sup> | USD | 320 |  | 265560 |
|  Aeropuertos Dominicanos Siglo XXI SA, 6.75%, 03/30/29<sup>(c)</sup> |  | 274 |  | 250881 |
|  DP World Salaam, (5 year CMT + 5.75%), 6.00%<sup>(b)(e)(k)</sup>  |  | 456 |  | 456855 |
|  FedEx Corp.<sup>(g)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/01/35 |  | 500 |  | 472004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/45 |  | 500 |  | 484072 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Transportation Infrastructure (continued)** |  |  |  |
|  GMR Hyderabad International Airport Ltd., 4.25%, 10/27/27<sup>(e)</sup> | USD | 200 | $165600 |
|  Heathrow Finance PLC, 4.63%, 09/01/29<sup>(e)(m)</sup>  | GBP | 100 | 102600 |
|  Mexico City Airport Trust, 5.50%, 07/31/47<sup>(e)</sup>  | USD | 308 | 234294 |
|  Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26<sup>(c)(g)</sup>  |  | 520 | 517984 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949850 |
| **Utilities — 1.7%** |  |  |  |
|  Centrais Eletricas Brasileiras SA, 3.63%, 02/04/25<sup>(c)</sup>  |  | 200 | 191500 |
|  Consensus Cloud Solutions, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/26 |  | 91 | 83720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/15/28 |  | 83 | 73827 |
|  Electricite de France SA, (10 year USD Swap + 3.71%), 5.25%<sup>(b)(c)(g)(k)</sup>  |  | 7500 | 7200000 |
|  Genneia SA, 8.75%, 09/02/27<sup>(c)</sup>  |  | 168 | 147616 |
|  Inkia Energy Ltd., 5.88%, 11/09/27<sup>(e)</sup>  |  | 251 | 229241 |
|  Mong Duong Finance Holdings BV, 5.13%, 05/07/29<sup>(e)</sup> |  | 250 | 203172 |
|  Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28<sup>(c)(g)</sup>  |  | 578 | 536199 |
|  Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33<sup>(e)</sup> |  | 164 | 155213 |
|  Thames Water Kemble Finance PLC, 4.63%, 05/19/26<sup>(e)</sup>  | GBP | 168 | 180056 |
|  Vistra Operations Co. LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/26 | USD | 18 | 18216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/15/27 |  | 254 | 254815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/31/27 |  | 18 | 17722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/01/29 |  | 306 | 284479 |
|  |  |  | 9575776 |
| **Wireless Telecommunication Services — 1.4%** | **Wireless Telecommunication Services — 1.4%** | **Wireless Telecommunication Services — 1.4%** |  |
|  Altice France SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/01/27<sup>(e)</sup>  | EUR | 100 | 96190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 02/01/27<sup>(c)</sup>  | USD | 570 | 562858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/28<sup>(c)</sup>  |  | 357 | 314777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/15/29<sup>(e)</sup>  | EUR | 100 | 85597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/29<sup>(c)</sup>  | USD | 201 | 170265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/15/29<sup>(c)(g)</sup>  |  | 1406 | 1203325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/29<sup>(c)</sup>  |  | 410 | 352629 |
|  General Motors Co., 3.13%, 02/01/29 |  | 680 | 595000 |
|  Kenbourne Invest SA<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/26/24 |  | 329 | 306032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/22/28 |  | 200 | 141500 |
|  Millicom International Cellular SA, 5.13%, 01/15/28<sup>(e)</sup>  |  | 283 | 256770 |
|  SBA Communications Corp., 3.88%, 02/15/27<sup>(g)</sup>  |  | 930 | 886141 |
|  Sprint Corp., 7.63%, 03/01/26<sup>(g)</sup>  |  | 748 | 815409 |
|  Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29<sup>(c)(g)</sup>  |  | 637 | 490369 |
|  VICI Properties LP/VICI Note Co., Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/25 |  | 140 | 132306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/25 |  | 60 | 58236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/26 |  | 10 | 9544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/26 |  | 23 | 21617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/29 |  | 256 | 243850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/30 |  | 342 | 312236 |
|  Vmed O2 U.K. Financing I PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/29<sup>(e)</sup>  | GBP | 100 | 106538 |

---

16.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |
|  Vmed O2 U.K. Financing I PLC (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/15/31<sup>(e)</sup>  | GBP | 100 | $105230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/31<sup>(c)</sup>  | USD | 762 | 689610 |
|  VTR Comunicaciones SpA, 5.13%, 01/15/28<sup>(c)</sup>  |  | 178 | 129473 |
|  |  |  | 8085502 |
|  **Total Corporate Bonds — 83.4%<br>(Cost: $526,137,234)** |  |  | 483140100 |
|  **Floating Rate Loan Interests<sup>(b)</sup>**  |  |  |  |
| **Aerospace & Defense — 0.4%** |  |  |  |
|  Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/16/28<sup>(n)</sup>  |  | 99 | 94855 |
|  Peraton Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 9.71%, 02/01/29 |  | 676 | 628835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.12%, 02/01/28 |  | 1185 | 1150402 |
|  Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 6.12%, 01/15/25 |  | 255 | 249932 |
|  |  |  | 2124024 |
| **Air Freight & Logistics — 0.2%** |  |  |  |
|  AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.04%, 04/06/28 |  | 143 | 128985 |
|  PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 6.62%, 12/17/28 |  | 969 | 884017 |
|  |  |  | 1013002 |
| **Airlines — 0.4%** |  |  |  |
|  AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.46%, 04/20/28 |  | 748 | 735906 |
|  Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28 |  | 394 | 378773 |
|  Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 7.31%, 06/21/27 |  | 267 | 269280 |
|  SkyMiles IP Ltd., 2020 Skymiles Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 6.46%, 10/20/27 |  | 381 | 384524 |
|  United Airlines, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.53%, 04/21/28 |  | 820 | 787455 |
|  |  |  | 2555938 |
| **Auto Components — 0.0%** |  |  |  |
|  Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 5.62%, 04/30/26 |  | 95 | 91333 |
| **Banks — 0.2%** |  |  |  |
|  Directv Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 7.37%, 08/02/27 |  | 1247 | 1175025 |
| **Beverages — 0.0%** |  |  |  |
|  Naked Juice LLC, 2nd Lien Term Loan, (SOFR + 6.00%), 8.15%, 01/24/30<sup>(a)</sup>  |  | 38 | 34453 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Capital Markets — 0.1%** |  |  |  |
|  AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%), 8.81%, 08/02/29 | USD | 232 | $209061 |
|  Deerfield Dakota Holding LLC, 2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 9.12%, 04/07/28 |  | 274 | 266465 |
|  |  |  | 475526 |
| **Chemicals — 0.3%** |  |  |  |
|  Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.00%, 08/27/26 |  | 486 | 479252 |
|  Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 4.87%, 03/18/28 |  | 583 | 576550 |
|  New Arclin U.S. Holding Corp., 2021 Term Loan , (1 mo. LIBOR + 3.75%), 6.12%, 09/30/28 |  | 208 | 194008 |
|  W.R. Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 6.06%, 09/22/28 |  | 306 | 293160 |
|  |  |  | 1542970 |
| **Commercial Services & Supplies — 0.2%** |  |  |  |
|  Propulsion BC Finco Sarl, Term Loan,<br>02/10/29<sup>(a)(n)</sup>  |  | 203 | 194437 |
|  Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 6.37%, 08/27/25 |  | 1245 | 1210193 |
|  |  |  | 1404630 |
| **Communications Equipment — 0.1%** |  |  |  |
|  ViaSat, Inc., Term Loan, (SOFR CME + 4.50%), 6.94%, 03/04/29 |  | 310 | 287561 |
| **Construction & Engineering — 0.4%** |  |  |  |
|  Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 6.94%, 06/21/24 |  | 2590 | 2359206 |
| **Construction Materials — 0.0%** |  |  |  |
|  BCPE Empire Holdings, Inc., 2022 Incremental Term Loan, (SOFR CME + 4.62%), 7.05%, 06/11/26 |  | 50 | 47974 |
|  Smyrna Ready Mix Concrete LLC, (SOFR CME + 4.25%), 6.68%, 04/01/29<sup>(a)</sup>  |  | 85 | 82197 |
|  |  |  | 130171 |
| **Containers & Packaging — 0.1%** |  |  |  |
|  BWAY Holding Co., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 5.04%, 04/03/24 |  | 387 | 369843 |
|  Clydesdale Acquisition Holdings, Inc., Term Loan B, (SOFR CME + 4.17%), 6.60%, 04/13/29 |  | 131 | 125596 |
|  |  |  | 495439 |
| **Diversified Consumer Services — 0.1%** |  |  |  |
|  Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 3.75%), 6.12%, 01/31/27 |  | 79 | 76751 |
|  Ascend Learning LLC, 2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 8.12%, 12/10/29 |  | 157 | 138160 |
|  Sotheby's, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 7.01%, 01/15/27<sup>(a)</sup>  |  | 221 | 213212 |
|  TruGreen Limited Partnership, 2020 2nd Lien Term Loan, (1 mo. LIBOR + 8.50%, 0.75% Floor), 10.75%, 11/02/28<sup>(a)</sup>  |  | 201 | 188940 |
|  |  |  | 617063 |
| **Diversified Financial Services — 0.4%** |  |  |  |
|  Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 6.87%, 07/31/26 |  | 154 | 102537 |

---

S C H E D U L E O F I N V E S T M E N T S 17

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |  |
|  Credito Real SAB de CV Sofom ENR, Term Loan B, (3 mo. LIBOR + 3.75%, 0.00% Floor), 5.25%, 02/21/23<sup>(a)</sup>  | USD | 56 | $1680 |
|  Delta TopCo, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor),<br>5.84%, 12/01/27 |  | 313 | 294345 |
|  EP Purchaser LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 5.75%, 11/04/28. |  | 83 | 80906 |
|  Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 10/01/27 |  | 779 | 754240 |
|  I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (SOFR CME + 4.00%), 6.20%, 02/16/28 |  | 124 | 121095 |
|  KKR Apple Bidco LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 8.12%, 09/23/29 |  | 34 | 32527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, (1 mo. LIBOR + 2.75%), 5.12%, 09/23/28 |  | 144 | 138404 |
|  Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 5.62%, 09/25/26 |  | 75 | 70469 |
|  Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.25%, 09/01/25 |  | 373 | 314543 |
|  VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 5.37%, 02/28/27 |  | 92 | 89473 |
|  White Cap Buyer LLC, Term Loan B, (SOFR + 3.75%), 6.08%, 10/19/27 |  | 429 | 409192 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409411 |
| **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** |  |
|  Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.06%, 05/01/28 |  | 255 | 242289 |
|  Intelsat Jackson Holdings SA, 2021 Exit Term Loan B, (SOFR + 4.25%),<br>4.92%, 02/01/29 |  | 356 | 335532 |
|  |  |  | 577821 |
| **Food Products — 0.0%** |  |  |  |
|  Chobani LLC, 2020 Term Loan B, 10/23/27<sup>(n)</sup>  |  | 62 | 57269 |
| **Gas Utilities — 0.1%** |  |  |  |
|  Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%),<br>6.21%, 12/21/28 |  | 324 | 303158 |
| **Health Care Providers & Services — 0.1%** |  |  |  |
|  Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.30%, 01/08/27 |  | 79 | 76622 |
|  Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.12%, 10/10/25 |  | 628 | 162342 |
|  Quorum Health Corp., 2020 Term Loan, (3 mo. LIBOR + 8.25%, 1.00% Floor), 10.60%, 04/29/25 |  | 299 | 188039 |
|  RegionalCare Hospital Partners Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 6.12%, 11/16/25 |  | 146 | 137404 |
|  |  |  | 564407 |
| **Health Care Technology — 0.3%** |  |  |  |
|  Athenahealth, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Delayed Draw Term loan,<br>3.50%, 02/15/29 |  | 286 | 26928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, (SOFR CME + 3.50%), 5.65%, 02/15/29 |  | 1690 | 1607010 |
|  Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 6.37%, 06/04/28 |  | 222 | 210658 |
|  |  |  | 1844596 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Hotels, Restaurants & Leisure — 0.1%** |  |  |  |
|  Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 6.33%, 01/27/29 | USD | 511 | $486291 |
|  Great Canadian Gaming Corp., 2021 Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.10%, 11/01/26 |  | 71 | 68692 |
|  IRB Holding Corp., 2022 Term Loan B, (SOFR + 3.15%, 0.75% Floor), 4.84%, 12/15/27 |  | 262 | 250709 |
|  Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 0.00%, 07/21/26 |  | 39 | 38466 |
|  |  |  | 844158 |
| **Household Durables — 0.1%** |  |  |  |
|  Hunter Douglas Inc., USD Term Loan B1, (SOFR + 3.50%), 4.84%, 02/25/29 |  | 277 | 246392 |
|  Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 6.16%, 10/06/28 |  | 536 | 446604 |
|  |  |  | 692996 |
| **Industrial Conglomerates — 0.1%** |  |  |  |
|  AVSC Holding Corp., 2018 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 8.58%, 09/01/25 |  | 623 | 465471 |
|  Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 8.30%, 11/28/23 |  | 99 | 99137 |
|  |  |  | 564608 |
| **Insurance — 0.2%** |  |  |  |
|  Alliant Holdings Intermediate LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%),<br>5.62%, 05/09/25 |  | 247 | 238662 |
|  Hub International Ltd., 2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor),<br>5.98%, 04/25/25 |  | 126 | 122623 |
|  Ryan Specialty Group LLC, Term Loan, (SOFR CME + 3.00%, 0.75% Floor),<br>5.43%, 09/01/27 |  | 234 | 227014 |
|  Sedgwick Claims Management Services, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 5.62%, 12/31/25 |  | 175 | 169736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 6.62%, 09/03/26 |  | 199 | 193423 |
|  |  |  | 951458 |
| **Interactive Media & Services — 0.0%** |  |  |  |
|  Grab Holdings, Inc., Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor),<br>6.88%, 01/29/26 |  | 148 | 133270 |
| **IT Services — 0.2%** |  |  |  |
|  Boxer Parent Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 5.50%), 7.87%, 02/27/26 |  | 529 | 494615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 6.12%, 10/02/25 |  | 214 | 205568 |
|  Camelot Finance SA, Term Loan B, (1 mo. LIBOR + 3.00%), 5.37%, 10/31/26 |  | 201 | 195640 |
|  Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 6.37%, 12/01/27 |  | 213 | 207671 |
|  PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.87%, 02/13/27 |  | 121 | 111553 |
|  TierPoint LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 6.12%, 05/05/26 |  | 64 | 60735 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275782 |

---

18.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Leisure Products — 0.0%** |  |  |  |
|  Peloton Interactive, Inc., Term Loan, (SOFR CME + 6.50%), 8.35%, 05/25/27 | USD | 132 | $125290 |
| **Machinery — 0.4%** |  |  |  |
|  MHI Holdings LLC, Term Loan B, (1 mo. LIBOR + 5.00%), 7.37%, 09/20/26<sup>(a)</sup>  |  | 438 | 424651 |
|  SPX Flow, Inc., (SOFR CME + 4.50%), 6.93%, 04/05/29 |  | 482 | 455191 |
|  Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 5.88%, 03/28/25 |  | 1817 | 1702699 |
|  |  |  | 2582541 |
| **Media — 0.4%** |  |  |  |
|  Altice Financing SA, 2017 USD Term Loan B, (3 mo. LIBOR + 2.75%),<br>5.26%, 07/15/25 |  | 44 | 41477 |
|  Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%),<br>6.30%, 08/21/26 |  | 1114 | 1013677 |
|  MH Sub I LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.12%, 09/13/24 |  | 169 | 164280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor),<br>6.12%, 09/15/24 |  | 250 | 242441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 8.62%, 02/23/29 |  | 66 | 62425 |
|  Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 5.37%, 03/09/27 |  | 905 | 834446 |
|  |  |  | 2358746 |
| **Oil, Gas & Consumable Fuels — 0.5%** | **Oil, Gas & Consumable Fuels — 0.5%** | **Oil, Gas & Consumable Fuels — 0.5%** |  |
|  Ascent Resources Utica Holdings LLC, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor),<br>11.46%, 11/01/25 |  | 2934 | 3091433 |
|  Lealand Finance Co. BV, 2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 06/28/24 |  | 17 | 10323 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101756 |
| **Professional Services — 0.1%** |  |  |  |
|  Element Materials Technology Group U.S. Holdings, Inc., 2022 USD Delayed Draw Term Loan D, (SOFR CME + 4.25%), 6.36%, 06/24/29 |  | 89 | 85319 |
|  Galaxy U.S. Opco, Inc., Term Loan, (SOFR CME + 4.75%), 7.08%, 04/29/29 |  | 263 | 247549 |
|  |  |  | 332868 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |  |
|  Chamberlain Group, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 5.87%, 11/03/28 |  | 443 | 411476 |
| **Software — 1.2%** |  |  |  |
|  Barracuda Networks, Inc., 2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 9.56%, 10/30/28<sup>(a)</sup>  |  | 172 | 172096 |
|  Central Parent, Inc., 2022 USD Term Loan B, (SOFR CME + 4.50%),<br>6.61%, 07/06/29 |  | 129 | 125211 |
|  Cloudera, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 8.37%, 10/08/29 |  | 416 | 376480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, (1 mo. LIBOR + 3.75%), 6.12%, 10/08/28 |  | 519 | 490153 |
|  Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 5.62%, 05/27/24 |  | 706 | 638778 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
| **Software (continued)** |  |  |  |
|  Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 10.12%, 07/31/28 | USD | 117 | $115011 |
|  Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 5.95%, 03/11/28 |  | 90 | 84484 |
|  Magenta Buyer LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 4.75%,<br>0.75% Floor), 7.05%, 07/27/28 |  | 801 | 759789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor),<br>10.55%, 07/27/29 |  | 530 | 499525 |
|  McAfee LLC, 2022 USD Term Loan B, (SOFR + 4.00%), 5.70%, 03/01/29 |  | 879 | 837621 |
|  Planview Parent, Inc., 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%, 0.75% Floor),<br>9.62%, 12/17/28<sup>(a)</sup>  |  | 195 | 178425 |
|  Proofpoint, Inc., 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%, 0.50% Floor),<br>7.82%, 08/31/29 |  | 472 | 453350 |
|  Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%),<br>5.62%, 05/30/25 |  | 18 | 17212 |
|  Sabre Global, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, (1 mo. LIBOR + 3.50%), 5.87%, 12/17/27 |  | 84 | 80461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, (1 mo. LIBOR + 3.50%), 5.87%, 12/17/27 |  | 135 | 128260 |
|  Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 10/07/27 |  | 829 | 797050 |
|  SS&C Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 4.12%, 04/16/25 |  | 97 | 94552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 4.12%, 04/16/25 |  | 70 | 68793 |
|  Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%),<br>9.63%, 03/04/28 |  | 232 | 229796 |
|  Ultimate Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 7.54%, 05/03/27 |  | 556 | 531515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1 mo. LIBOR + 3.75%), 6.12%, 05/03/26 |  | 209 | 203209 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6881771 |
| **Specialty Retail — 0.0%** |  |  |  |
|  Staples, Inc., 7 Year Term Loan, (3 mo. LIBOR + 5.00%), 6.29%, 04/16/26 |  | 93 | 79808 |
| **Textiles, Apparel & Luxury Goods — 0.1%** |  |  |  |
|  Crocs, Inc., Term Loan B, (SOFR CME + 3.50%), 4.45%, 02/20/29 |  | 712 | 668963 |
| **Trading Companies & Distributors — 0.1%** |  |  |  |
|  Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (1 mo. LIBOR + 3.25%), 6.05%, 01/31/28 |  | 75 | 69211 |
|  SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR CME + 3.50%),<br>6.18%, 06/04/28 |  | 289 | 274455 |
|  |  |  | 343666 |

---

S C H E D U L E O F I N V E S T M E N T S 19

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Transportation — 0.1%** |  |  |  |
|  Brown Group Holding, LLC, 2022 Term Loan B2, 07/01/29<sup>(n)</sup>  | USD | 327 | $319711 |
|  **Total Floating Rate Loan Interests — 7.2%<br>(Cost: $44,281,176)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41731871 |
|  **Foreign Agency Obligations** |  |  |  |
|  **Bahrain — 0.1%** |  |  |  |
|  Bahrain Government International Bond<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/26/26 |  | 301 | 309522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/16/32 |  | 200 | 168038 |
|  |  |  | 477560 |
| **Chile — 0.1%** |  |  |  |
|  Chile Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 03/07/42 |  | 200 | 184000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/52 |  | 200 | 172700 |
|  |  |  | 356700 |
| **Colombia — 0.3%** |  |  |  |
|  Colombia Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 05/21/24 |  | 159 | 166930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/28/26<sup>(g)</sup>  |  | 542 | 519236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/25/27<sup>(g)</sup>  |  | 477 | 436097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/15/31 |  | 677 | 534746 |
|  |  |  | 1657009 |
| **Dominican Republic — 0.3%** |  |  |  |
|  Dominican Republic International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/25/27<sup>(e)</sup>  |  | 523 | 513129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/22/29<sup>(c)</sup>  |  | 260 | 240630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/30/30<sup>(c)</sup>  |  | 452 | 388240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/23/32<sup>(c)</sup>  |  | 339 | 283976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/05/49<sup>(e)</sup>  |  | 271 | 221847 |
|  |  |  | 1647822 |
| **Egypt — 0.0%** |  |  |  |
|  Egypt Government International Bond<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/29/24 |  | 200 | 170000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/16/61 |  | 200 | 112000 |
|  |  |  | 282000 |
| **Guatemala — 0.2%** |  |  |  |
|  Guatemala Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/03/26<sup>(e)</sup>  |  | 200 | 196350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/24/32<sup>(c)</sup>  |  | 200 | 197662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/07/33<sup>(e)</sup>  |  | 236 | 196146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/07/41<sup>(c)</sup>  |  | 401 | 326314 |
|  |  |  | 916472 |
| **Hungary — 0.1%** |  |  |  |
|  Hungary Government International Bond, 5.25%, 06/16/29<sup>(c)</sup>  |  | 450 | 456621 |
| **Indonesia — 0.2%** |  |  |  |
|  Indonesia Government International Bond<sup>(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/24/28 |  | 947 | 958127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/11/49 |  | 295 | 304989 |
|  |  |  | 1263116 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **Ivory Coast — 0.1%** |  |  |  |
|  Ivory Coast Government International Bond,<br>6.38%, 03/03/28<sup>(e)</sup>  | USD | 731 | $668865 |
| **Mexico — 0.3%** |  |  |  |
|  Mexico Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/11/28<sup>(g)</sup>  |  | 805 | 788900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.66%, 05/24/31 |  | 832 | 712608 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501508 |
| **Mongolia — 0.0%** |  |  |  |
|  Mongolia Government International Bond, 5.13%, 04/07/26<sup>(e)</sup>  |  | 250 | 221277 |
| **Morocco — 0.1%** |  |  |  |
|  Morocco Government International Bond<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 12/15/27 |  | 379 | 328309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/32 |  | 500 | 396250 |
|  |  |  | 724559 |
| **Nigeria — 0.1%** |  |  |  |
|  Nigeria Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 03/24/29<sup>(c)</sup>  |  | 400 | 309500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/16/32<sup>(e)</sup>  |  | 208 | 145600 |
|  |  |  | 455100 |
| **Oman — 0.1%** |  |  |  |
|  Oman Government International Bond<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/08/47 |  | 309 | 268057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/17/48 |  | 309 | 275010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/25/51 |  | 224 | 202720 |
|  |  |  | 745787 |
| **Panama — 0.2%** |  |  |  |
|  Panama Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/17/28 |  | 360 | 349043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 01/23/30<sup>(g)</sup>  |  | 1015 | 918448 |
|  |  |  | 1267491 |
| **Paraguay — 0.2%** |  |  |  |
|  Paraguay Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/27/27<sup>(e)</sup>  |  | 305 | 309632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/28/31<sup>(c)</sup>  |  | 200 | 197600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/13/48<sup>(e)</sup>  |  | 210 | 179196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/30/50<sup>(e)</sup>  |  | 200 | 175912 |
|  |  |  | 862340 |
| **Peru — 0.2%** |  |  |  |
|  Peruvian Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 01/23/31<sup>(g)</sup>  |  | 233 | 205302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.86%, 12/01/32<sup>(g)</sup>  |  | 712 | 565506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/34 |  | 176 | 150832 |
|  |  |  | 921640 |
| **Qatar — 0.1%** |  |  |  |
|  Qatar Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/14/29<sup>(c)</sup>  |  | 478 | 497120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/16/50<sup>(e)</sup>  |  | 200 | 204000 |
|  |  |  | 701120 |
| **Romania — 0.2%** |  |  |  |
|  Romanian Government International Bond<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/25/27 |  | 416 | 410800 |

---

20.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Romania (continued)** |  |  |  |  |
|  Romanian Government International Bond<sup>(c)</sup> (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/14/31 | USD | 366 | $| 300417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/27/32 |  | 516 |  | 424991 |
|  |  |  |  | 1136208 |
| **Saudi Arabia — 0.2%** |  |  |  |  |
|  Saudi Government International Bond |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/16/29<sup>(c)</sup>  |  | 200 |  | 210250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/17/30<sup>(e)(g)</sup>  |  | 362 |  | 385077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/02/33<sup>(e)</sup>  |  | 524 |  | 461775 |
|  |  |  |  | 1057102 |
| **South Africa — 0.1%** |  |  |  |  |
|  South Africa Government International Bond | South Africa Government International Bond | South Africa Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 09/30/29 |  | 210 |  | 192452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/20/32 |  | 390 |  | 361237 |
|  |  |  |  | 553689 |
| **Sri Lanka — 0.0%** |  |  |  |  |
|  Sri Lanka Government International Bond, 6.85%, 03/14/24<sup>(e)(f)(l)</sup>  |  | 400 |  | 118450 |
| **Ukraine — 0.0%** |  |  |  |  |
|  Ukraine Government International Bond |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.99%, 02/01/24<sup>(e)</sup>  |  | 224 |  | 42560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 09/01/25<sup>(e)</sup>  |  | 226 |  | 40680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/15/33<sup>(c)</sup>  |  | 371 |  | 69934 |
|  |  |  |  | 153174 |
| **Uruguay — 0.0%** |  |  |  |  |
|  Uruguay Government International Bond, 4.38%, 10/27/27 |  | 200 |  | 207850 |
|  **Total Foreign Agency Obligations — 3.2%<br>(Cost: $20,289,287)** | **Total Foreign Agency Obligations — 3.2%<br>(Cost: $20,289,287)** | **Total Foreign Agency Obligations — 3.2%<br>(Cost: $20,289,287)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18353460 |
|  **Municipal Bonds** |  |  |  |  |
|  **California — 0.0%** |  |  |  |  |
|  California County Tobacco Securitization Agency, Refunding RB, CAB, Series B-2, Subordinate, 0.00%, 06/01/55<sup>(j)</sup>  |  | 1230 |  | 222871 |
|  **Illinois — 0.2%** |  |  |  |  |
|  State of Illinois, GO, 5.10%, 06/01/33 |  | 800 |  | 813209 |
|  **Total Municipal Bonds — 0.2%<br>(Cost: $1,007,778)** |  |  |  | 1036080 |
|  **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** |
|  **Collateralized Mortgage Obligations — 11.5%** | **Collateralized Mortgage Obligations — 11.5%** | **Collateralized Mortgage Obligations — 11.5%** | **Collateralized Mortgage Obligations — 11.5%** | **Collateralized Mortgage Obligations — 11.5%** |
|  BRAVO Residential Funding Trust, Series 2021- NQM1, Class A1, 0.94%, 02/25/49<sup>(b)(c)</sup>  |  | 873 |  | 814519 |
|  Chase Home Lending Mortgage Trust, Class A12, 6.50%, 04/25/49<sup>(b)(c)</sup>  |  | 473 |  | 472575 |
|  CHL Mortgage Pass-Through Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-J2, Class 2A1, (1 mo. LIBOR US + 0.65%), 2.91%, 07/25/37<sup>(b)</sup>  |  | 2671 |  | 738775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-J2, Class 2A8, 6.00%, 07/25/37 |  | 1475 |  | 686336 |
|  Citigroup Mortgage Loan Trust, Series 2006-AR7, Class 2A3A, 2.95%, 11/25/36<sup>(b)</sup>  |  | 893 |  | 845611 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** |
|  COLT Mortgage Loan Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 04/25/67 | USD | 2750 | $2749976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2, Class M1, 5.25%, 03/25/65<sup>(b)(c)</sup>  |  | 2550 | 2504540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3, Class M1, 3.36%, 04/27/65<sup>(b)(c)</sup>  |  | 2850 | 2680682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, 4.55%, 04/25/67<sup>(b)(c)</sup>  |  | 1524 | 1491771 |
|  Countrywide Alternative Loan Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9CB, Class 1A3, (1 mo. LIBOR US + 0.45%), 2.71%, 05/25/35<sup>(b)</sup>  |  | 1419 | 1271722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-40T1, Class 2A5, (1 mo. LIBOR US + 0.40%), 2.66%, 12/25/36<sup>(b)</sup>  |  | 2271 | 317586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7CB, Class 2A1, 6.50%, 05/25/36 |  | 1459 | 824811 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J7, Class 2A1, (1 mo. LIBOR US + 1.50%), 3.21%, 11/20/46<sup>(b)</sup>  |  | 3323 | 2428049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J8, Class A5, 6.00%, 02/25/37 |  | 1858 | 953598 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA14, Class 3A1, (12 mo. MTA + 0.85%), 1.49%, 11/25/46<sup>(b)</sup>  |  | 4573 | 3907397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA16, Class A2, (1 mo. LIBOR US + 0.38%), 2.64%, 10/25/46<sup>(b)</sup>  |  | 2991 | 2697725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA18, Class A1, (1 mo. LIBOR US + 0.24%), 2.50%, 12/25/46<sup>(b)</sup>  |  | 1801 | 1593513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA6, Class 1A1A, (1 mo. LIBOR US + 0.42%), 2.68%, 07/25/46<sup>(b)</sup>  |  | 3510 | 2775237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA8, Class 1A1, (1 mo. LIBOR US + 0.38%), 2.64%, 07/25/46<sup>(b)</sup>  |  | 1215 | 1051678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12T1, Class A22, 5.75%, 06/25/37 |  | 3456 | 1867353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12T1, Class A5, 6.00%, 06/25/37 |  | 1677 | 934504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-19, Class 1A1, 6.00%, 08/25/37 |  | 549 | 323919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-22, Class 2A16, 6.50%, 09/25/37 |  | 7097 | 3362218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-23CB, Class A1, 6.00%, 09/25/37 |  | 4202 | 2636100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4CB, Class 1A3, (1 mo. LIBOR US + 0.35%), 2.61%, 04/25/37<sup>(b)</sup>  |  | 1753 | 1365637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA2, Class 1A1, (12 mo. MTA + 0.84%), 1.48%, 03/25/47<sup>(b)</sup>  |  | 2114 | 1815060 |
|  Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-OA5, Class 3A1, (1 mo. LIBOR US + 0.40%), 2.46%, 04/25/46<sup>(b)</sup>  |  | 4311 | 3778901 |
|  CSMC Trust<sup>(b)(c)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-4R, Class 1A2, (1 mo. LIBOR US + 1.50%), 2.30%, 09/27/37. |  | 1433 | 1252802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM2, Class M1, 2.28%, 02/25/66 |  | 1500 | 1228769 |
|  Ellington Financial Mortgage Trust, Series 2020-1, Class M1, 5.24%, 05/25/65<sup>(b)(c)</sup>  |  | 500 | 490261 |
|  GS Mortgage-Backed Securities Trust, Series 2021- PJ7, Class A2, 2.50%, 01/25/52<sup>(b)(c)</sup>  |  | 2197 | 1952059 |
|  MFA Trust, Series 2021-NQM1, Class M1, 2.31%, 04/25/65<sup>(b)(c)</sup>  |  | 2000 | 1808508 |
|  Morgan Stanley Re-REMIC Trust, Series 2010-R5, Class 7B, 2.74%, 05/26/37<sup>(c)</sup>  |  | 4576 | 4558345 |
|  Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AF1, Class 1A2, 6.16%, 05/25/36<sup>(b)</sup>  |  | 6817 | 1755293 |
|  Residential Asset Securitization Trust, Series 2006-A8, Class 2A5, (1 mo. LIBOR US + 0.60%), 2.86%, 08/25/36<sup>(b)</sup>  |  | 6341 | 1154329 |
|  SG Residential Mortgage Trust, 1.00%, 09/25/67 |  | 751 | 750531 |
|  STAR Trust, Series 2021-1, Class M1, 2.36%, 05/25/65<sup>(b)(c)</sup>  |  | 1750 | 1637334 |

---

S C H E D U L E O F I N V E S T M E N T S 21

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** |
|  Starwood Mortgage Residential Trust, Series 2020-3, Class M1, 3.54%, 04/25/65<sup>(b)(c)</sup>  | USD | 1057 | $| 1017765 |
|  Verus Securitization Trust, 5.35%, 07/25/67 |  | 2046 |  | 2045854 |
|  |  |  |  | 66541643 |
|  **Commercial Mortgage-Backed Securities<sup>(b)(c)</sup> — 0.3%** | **Commercial Mortgage-Backed Securities<sup>(b)(c)</sup> — 0.3%** | **Commercial Mortgage-Backed Securities<sup>(b)(c)</sup> — 0.3%** | **Commercial Mortgage-Backed Securities<sup>(b)(c)</sup> — 0.3%** | **Commercial Mortgage-Backed Securities<sup>(b)(c)</sup> — 0.3%** |
|  Bayview Commercial Asset Trust, Series 2007-2A, Class A1, (1 mo. LIBOR US + 0.27%), 2.53%, 07/25/37 |  | 1514 |  | 1335221 |
|  Extended Stay America Trust, Series 2021-ESH, Class D, (1 mo. LIBOR US + 2.25%), 4.25%, 07/15/38 |  | 328 |  | 316836 |
|  Lehman Brothers Small Balance Commercial Mortgage Trust, Series 2006-1A, Class B, (1 mo. LIBOR US + 1.00%), 3.26%, 04/25/31 |  | 512 |  | 501714 |
|  |  |  |  | 2153771 |
|  **Total Non-Agency Mortgage-Backed Securities — 11.8%<br>(Cost: $81,717,363)** | **Total Non-Agency Mortgage-Backed Securities — 11.8%<br>(Cost: $81,717,363)** | **Total Non-Agency Mortgage-Backed Securities — 11.8%<br>(Cost: $81,717,363)** |  | 68695414 |
|  **Preferred Securities** |  |  |  |  |
|  **Capital Trusts — 6.6%<sup>(b)</sup>**  | **Capital Trusts — 6.6%<sup>(b)</sup>**  | **Capital Trusts — 6.6%<sup>(b)</sup>**  | **Capital Trusts — 6.6%<sup>(b)</sup>**  | **Capital Trusts — 6.6%<sup>(b)</sup>**  |
|  **Automobiles<sup>(k)</sup> — 0.1%** | **Automobiles<sup>(k)</sup> — 0.1%** | **Automobiles<sup>(k)</sup> — 0.1%** | **Automobiles<sup>(k)</sup> — 0.1%** | **Automobiles<sup>(k)</sup> — 0.1%** |
|  General Motors Financial Co., Inc., Series C, 5.70% |  | 395 |  | 374262 |
|  Volkswagen International Finance NV,<br>4.38%<sup>(e)</sup>  | EUR | 100 |  | 89810 |
|  |  |  |  | 464072 |
|  **Banks<sup>(k)</sup> — 2.0%** | **Banks<sup>(k)</sup> — 2.0%** | **Banks<sup>(k)</sup> — 2.0%** | **Banks<sup>(k)</sup> — 2.0%** | **Banks<sup>(k)</sup> — 2.0%** |
|  Banco Mercantil del Norte SA<sup>(c)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88% | USD | 205 |  | 170253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75% |  | 292 |  | 274900 |
|  Bank of East Asia Ltd., 5.88%<sup>(e)</sup>  |  | 250 |  | 236250 |
|  Industrial & Commercial Bank of China Ltd., 3.20%<sup>(e)</sup>  |  | 210 |  | 201810 |
|  ING Groep NV, 3.88% |  | 1750 |  | 1345214 |
|  Kasikornbank PCL, 5.28%<sup>(e)</sup>  |  | 246 |  | 232055 |
|  Nordea Bank Abp, 3.75%<sup>(c)</sup>  |  | 560 |  | 432490 |
|  Rizal Commercial Banking Corp., 6.50%<sup>(e)</sup>  |  | 200 |  | 185225 |
|  TMBThanachart Bank PCL, 4.90%<sup>(e)</sup>  |  | 250 |  | 220984 |
|  Wells Fargo & Co., Series S, 5.90%<sup>(g)</sup>  |  | 8800 |  | 8353708 |
|  |  |  |  | 11652889 |
|  **Capital Markets — 0.4%** | **Capital Markets — 0.4%** | **Capital Markets — 0.4%** | **Capital Markets — 0.4%** | **Capital Markets — 0.4%** |
|  Bank of New York Mellon Corp., Series I, 3.75%<sup>(k)</sup>  |  | 2845 |  | 2478564 |
|  **Diversified Financial Services<sup>(k)</sup> — 3.4%** | **Diversified Financial Services<sup>(k)</sup> — 3.4%** | **Diversified Financial Services<sup>(k)</sup> — 3.4%** | **Diversified Financial Services<sup>(k)</sup> — 3.4%** | **Diversified Financial Services<sup>(k)</sup> — 3.4%** |
|  Bank of America Corp.<sup>(g)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AA, 6.10% |  | 2865 |  | 2896881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series X, 6.25% |  | 5535 |  | 5574649 |
|  Barclays PLC, 4.38% |  | 585 |  | 475488 |
|  Credit Agricole SA, 4.75%<sup>(c)</sup>  |  | 260 |  | 220350 |
|  Credit Suisse Group AG, 6.38%<sup>(c)</sup>  |  | 358 |  | 302510 |
|  HSBC Holdings PLC, 6.00%<sup>(g)</sup>  |  | 695 |  | 666736 |
|  JPMorgan Chase & Co. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series FF, 5.00%<sup>(g)</sup>  |  | 1025 |  | 952202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series HH, 4.60% |  | 320 |  | 283710 |
|  NatWest Group PLC, 6.00%<sup>(g)</sup>  |  | 1185 |  | 1156122 |
|  Societe Generale SA<sup>(c)(g)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38% |  | 3000 |  | 2517341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75% |  | 3000 |  | 2820143 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
|  UBS Group AG, 3.88%<sup>(c)(g)</sup>  | USD | 1750 | 1509278 |
|  Woori Bank, 4.25%<sup>(e)</sup>  |  | 250 | 236609 |
|  |  |  | 19612019 |
|  **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** |
|  Koninklijke KPN NV, 2.00%<sup>(e)(k)</sup>  | EUR | 100 | 95206 |
|  **Electric Utilities — 0.4%** | **Electric Utilities — 0.4%** | **Electric Utilities — 0.4%** | **Electric Utilities — 0.4%** |
|  Edison International, Series B, 5.00%<sup>(k)</sup>  | USD | 220 | 185589 |
|  NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79<sup>(g)</sup>  |  | 2500 | 2303391 |
|  |  |  | 2488980 |
|  **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
|  Vistra Corp., 7.00%<sup>(c)(k)</sup>  |  | 307 | 285492 |
|  **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
|  Heungkuk Life Insurance Co. Ltd., 4.48%<sup>(e)(k)</sup>  |  | 200 | 193037 |
|  **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
|  SES SA, 2.88%<sup>(e)(k)</sup>  | EUR | 100 | 86874 |
|  **Oil, Gas & Consumable Fuels<sup>(e)(k)</sup> — 0.1%** | **Oil, Gas & Consumable Fuels<sup>(e)(k)</sup> — 0.1%** | **Oil, Gas & Consumable Fuels<sup>(e)(k)</sup> — 0.1%** | **Oil, Gas & Consumable Fuels<sup>(e)(k)</sup> — 0.1%** |
|  Abertis Infraestructuras Finance BV, 3.25% |  | 100 | 91094 |
|  Repsol International Finance BV, 4.25% |  | 100 | 93241 |
|  |  |  | 184335 |
|  **Real Estate Management & Development<sup>(e)(k)</sup> — 0.0%** | **Real Estate Management & Development<sup>(e)(k)</sup> — 0.0%** | **Real Estate Management & Development<sup>(e)(k)</sup> — 0.0%** | **Real Estate Management & Development<sup>(e)(k)</sup> — 0.0%** |
|  Aroundtown SA, 3.38% |  | 100 | 87360 |
|  Citycon OYJ, 4.50% |  | 100 | 72564 |
|  |  |  | 159924 |
|  **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** |
|  Poste Italiane SpA, 2.63%<sup>(e)(k)</sup>  |  | 100 | 72565 |
|  **Utilities — 0.0%** | **Utilities — 0.0%** | **Utilities — 0.0%** | **Utilities — 0.0%** |
|  Electricite de France SA, 3.00%<sup>(e)(k)</sup>  |  | 200 | 169437 |
|  **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** |
|  Vodafone Group PLC, 2.63%, 08/27/80<sup>(e)</sup>  |  | 100 | 94161 |
|  |  |  | 38037555 |
|  |  | *<br>Shares* |  |
|  **Preferred Stocks — 2.4%<sup>(b)(k)</sup>**  | **Preferred Stocks — 2.4%<sup>(b)(k)</sup>**  | **Preferred Stocks — 2.4%<sup>(b)(k)</sup>**  | **Preferred Stocks — 2.4%<sup>(b)(k)</sup>**  |
|  **Capital Markets — 2.4%** | **Capital Markets — 2.4%** | **Capital Markets — 2.4%** | **Capital Markets — 2.4%** |
|  Goldman Sachs Group, Inc., Series J |  | 395017 | 9907026 |
|  Morgan Stanley |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series F |  | 100000 | 2631000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K |  | 60125 | 1544010 |
|  |  |  | 14082036 |
|  **Total Preferred Securities — 9.0%<br>(Cost: $55,602,802)** | **Total Preferred Securities — 9.0%<br>(Cost: $55,602,802)** | **Total Preferred Securities — 9.0%<br>(Cost: $55,602,802)** | 52119591 |

---

22.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** |
|  **Agency Obligations — 0.0%** | **Agency Obligations — 0.0%** | **Agency Obligations — 0.0%** | **Agency Obligations — 0.0%** |
|  Perusahaan Penerbit SBSN Indonesia III, 4.40%, 06/06/27<sup>(c)</sup>  | USD | 200 | $204000 |
|  **Collateralized Mortgage Obligations — 1.0%** | **Collateralized Mortgage Obligations — 1.0%** | **Collateralized Mortgage Obligations — 1.0%** | **Collateralized Mortgage Obligations — 1.0%** |
|  Freddie Mac REMICS, Series 4480, Class ZX, 4.00%, 11/15/44 |  | 5051 | 5173236 |
|  Government National Mortgage Association, Series 2017-136, Class GB, 3.00%, 03/20/47 |  | 710 | 700689 |
|  |  |  | 5873925 |
|  **Mortgage-Backed Securities<sup>(g)</sup> — 28.1%** | **Mortgage-Backed Securities<sup>(g)</sup> — 28.1%** | **Mortgage-Backed Securities<sup>(g)</sup> — 28.1%** | **Mortgage-Backed Securities<sup>(g)</sup> — 28.1%** |
|  Fannie Mae Mortgage-Backed Securities<br>4.00%, 08/11/22. |  | 7849 | 8006555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/11/22 |  | 7827 | 8219634 |
|  Uniform Mortgage-Backed Securities<br>2.00%, 08/11/22 - 03/01/51 |  | 19106 | 17230552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/11/22 |  | 4034 | 4074377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/11/22 - 09/14/52<sup>(o)</sup>  |  | 113954 | 114779039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/11/22 - 09/14/52<sup>(o)</sup>  |  | 9879 | 10190715 |
|  |  |  | 162500872 |
|  **Total U.S. Government Sponsored Agency Securities — 29.1%<br>(Cost: $170,924,183)** | **Total U.S. Government Sponsored Agency Securities — 29.1%<br>(Cost: $170,924,183)** | **Total U.S. Government Sponsored Agency Securities — 29.1%<br>(Cost: $170,924,183)** | 168578797 |
|  |  | *<br>Shares* |  |
|  **Warrants** |  |  |  |
|  **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
|  Aviron Capital LLC (Expires 12/16/31)<sup>(a)</sup>  | Aviron Capital LLC (Expires 12/16/31)<sup>(a)</sup>  | 10 |  |
|  **Total Warrants — 0.0%<br>(Cost: $—)** | **Total Warrants — 0.0%<br>(Cost: $—)** | **Total Warrants — 0.0%<br>(Cost: $—)** | **—** |
|  **Total Long-Term Investments — 155.8%<br>(Cost: $969,854,616)** | **Total Long-Term Investments — 155.8%<br>(Cost: $969,854,616)** | **Total Long-Term Investments — 155.8%<br>(Cost: $969,854,616)** | 902630343 |
|  **Short-Term Securities** |  |  |  |
|  **Money Market Funds — 3.8%** | **Money Market Funds — 3.8%** | **Money Market Funds — 3.8%** | **Money Market Funds — 3.8%** |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.76%<sup>(p)(q)</sup>  |  | 21796872 | 21796872 |
|  **Total Short-Term Securities — 3.8%<br>(Cost: $21,796,872)** | **Total Short-Term Securities — 3.8%<br>(Cost: $21,796,872)** | **Total Short-Term Securities — 3.8%<br>(Cost: $21,796,872)** | 21796872 |
|  **Options Purchased — 0.0%<br>(Cost: $5,201)** | **Options Purchased — 0.0%<br>(Cost: $5,201)** | **Options Purchased — 0.0%<br>(Cost: $5,201)** | 1452 |
|  **Total Investments Before TBA Sale Commitments — 159.6%<br>(Cost: $991,656,689)** | **Total Investments Before TBA Sale Commitments — 159.6%<br>(Cost: $991,656,689)** | **Total Investments Before TBA Sale Commitments — 159.6%<br>(Cost: $991,656,689)** | 924428667 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **TBA Sale Commitments<sup>(o)</sup>**  |  |  |  |
|  **Mortgage-Backed Securities — (3.1)%** | **Mortgage-Backed Securities — (3.1)%** | **Mortgage-Backed Securities — (3.1)%** | **Mortgage-Backed Securities — (3.1)%** |
|  Uniform Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/25/52. | USD | (17500) | $(17586817) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/11/52 |  | (58) | (59008) |
|  **Total TBA Sale Commitments — (3.1)%<br>(Proceeds: $(17306835))** | **Total TBA Sale Commitments — (3.1)%<br>(Proceeds: $(17306835))** | **Total TBA Sale Commitments — (3.1)%<br>(Proceeds: $(17306835))** | (17645825) |
|  **Total Investments, Net of TBA Sale Commitments — 156.5%<br>(Cost: $974,349,854)** | **Total Investments, Net of TBA Sale Commitments — 156.5%<br>(Cost: $974,349,854)** | **Total Investments, Net of TBA Sale Commitments — 156.5%<br>(Cost: $974,349,854)** | 906782842 |
|  **Liabilities in Excess of Other Assets — (56.5)%** | **Liabilities in Excess of Other Assets — (56.5)%** | **Liabilities in Excess of Other Assets — (56.5)%** | (327284350) |
|  **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $579498492 |

---

<sup>(a)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

<sup>(d)</sup> Rounds to less than 1,000.

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

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

<sup>(g)</sup> All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements.

<sup>(h)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

<sup>(i)</sup> Convertible security.

<sup>(j)</sup> Zero-coupon bond.

<sup>(k)</sup> Perpetual security with no stated maturity date.

<sup>(l)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(m)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

<sup>(n)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.

<sup>(o)</sup> Represents or includes a TBA transaction.

<sup>(p)</sup> Affiliate of the Trust.

<sup>(q)</sup> Annualized 7-day yield as of period end.

For Trust compliance purposes, the Trust's industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

S C H E D U L E O F I N V E S T M E N T S 23

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Affiliates** 

Investments in issuers considered to be affiliate(s) of the Trust during the period ended July 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br>10/31/21* | *Purchases<br>at Cost* | *Proceeds<br>from Sales* | *Net<br>Realized<br>Gain (Loss)* | *Value at<br>07/31/22* | *Shares<br>Held at<br>07/31/22* | *Income* | *Capital Gain<br>Distributions<br>from<br>Underlying<br>Funds* |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class | $36212415 | $– $| (14415543)<sup>(a)</sup> | $– $– $| 1796872 | 21796872 | $62621 | $— |

---

<sup>(a)</sup> Represents net amount purchased (sold). 

**Reverse Repurchase Agreements** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face Value* | | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  Barclays Capital Inc. | 2.75 %<sup>(b)</sup> | 03/03/22 | Open |  | $334163 |  | $335655 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 03/04/22 | Open |  | 2839931 |  | 2850175 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 03/04/22 | Open |  | 1709137 |  | 1715302 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 03/04/22 | Open |  | 3195845 |  | 3206018 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 03/04/22 | Open |  | 1002500 |  | 1006116 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.60 <sup>(b)</sup> | 03/04/22 | Open |  | 3710000 |  | 3724139 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 1622500 |  | 1629677 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 464144 |  | 466197 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 6075000 |  | 6101873 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 2212500 |  | 2222287 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 7656000 |  | 7689867 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 1660000 |  | 1667343 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 754875 |  | 758214 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 575825 |  | 578372 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/04/22 | Open |  | 89310 |  | 89705 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/14/22 | Open |  | 711515 |  | 714583 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/16/22 | Open |  | 395388 |  | 397082 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/31/22 | Open |  | 461700 |  | 463579 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 03/31/22 | Open |  | 889034 |  | 892652 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 04/11/22 | Open |  | 107030 |  | 107441 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 04/21/22 | Open |  | 969030 |  | 972549 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.70 <sup>(b)</sup> | 04/28/22 | Open |  | 177320 |  | 176782 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 04/28/22 | Open |  | 243000 |  | 243770 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 05/06/22 | Open |  | 699221 |  | 701971 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.75 <sup>(b)</sup> | 05/10/22 | Open |  | 1127270 |  | 1131231 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.80 <sup>(b)</sup> | 05/10/22 | Open |  | 601944 |  | 604128 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 05/10/22 | Open |  | 1604460 |  | 1609659 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.80 <sup>(b)</sup> | 05/13/22 | Open |  | 247431 |  | 248284 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 05/13/22 | Open |  | 153108 |  | 153580 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 05/16/22 | Open |  | 657305 |  | 659501 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 05/16/22 | Open |  | 915915 |  | 918711 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 05/18/22 | Open |  | 659175 |  | 661173 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 05/27/22 | Open |  | 760919 |  | 762933 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.62 <sup>(b)</sup> | 06/06/22 | Open |  | 433067 |  | 434097 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | (1.50)<sup>(b)</sup> | 06/14/22 | Open |  | 654939 |  | 654056 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | (3.00)<sup>(b)</sup> | 06/17/22 | Open |  | 33188 |  | 33074 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | (0.50)<sup>(b)</sup> | 06/22/22 | Open |  | 172190 |  | 172097 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.40 <sup>(b)</sup> | 06/24/22 | Open |  | 636912 |  | 637934 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | (5.00)<sup>(b)</sup> | 06/24/22 | Open |  | 101640 |  | 101104 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 06/29/22 | Open |  | 335256 |  | 335816 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.40 <sup>(b)</sup> | 06/30/22 | Open |  | 310399 |  | 310840 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 07/01/22 | Open |  | 666775 |  | 667725 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/06/22 | Open |  | 331380 |  | 331840 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.72 <sup>(b)</sup> | 07/06/22 | Open |  | 207086 |  | 207370 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/07/22 | Open |  | 880380 |  | 881554 | Corporate Bonds | Open/Demand |

---

24.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face Value* | | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  Deutsche Bank Securities, Inc. | 1.99% | 07/13/22 | 08/11/22 |  | $5361353 |  | $5366688 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  Deutsche Bank Securities, Inc. | 1.99 | 07/13/22 | 08/11/22 |  | 3343336 |  | 3346663 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  Deutsche Bank Securities, Inc. | 1.99 | 07/13/22 | 08/11/22 |  | 4000853 |  | 4004833 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  Deutsche Bank Securities, Inc. | 1.99 | 07/13/22 | 08/11/22 |  | 5805051 |  | 5810827 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  Deutsche Bank Securities, Inc. | 1.99 | 07/13/22 | 08/11/22 |  | 7116447 |  | 7123528 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 7825431 |  | 7833257 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 136779 |  | 136916 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 2303415 |  | 2305718 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 112457 |  | 112569 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1790807 |  | 1792598 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 805723 |  | 806529 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 400906 |  | 401307 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 470719 |  | 471190 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 270547 |  | 270817 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 140025 |  | 140165 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 2436221 |  | 2438657 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 172902 |  | 173075 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 132550 |  | 132683 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1915539 |  | 1917455 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 5306218 |  | 5311525 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 62569435 |  | 62632236 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1206051 |  | 1207257 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1914297 |  | 1916211 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1418571 |  | 1419990 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 744734 |  | 745479 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1758803 |  | 1760562 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 3180765 |  | 3183946 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1329502 |  | 1330831 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 2.00 | 07/13/22 | 08/11/22 |  | 1557759 |  | 1559317 | U.S. Government Sponsored Agency Securities | Up to 30 Days |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 07/13/22 | Open |  | 56888 |  | 56942 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.40 <sup>(b)</sup> | 07/14/22 | Open |  | 92783 |  | 92855 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/19/22 | Open |  | 669735 |  | 670181 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.85 <sup>(b)</sup> | 07/19/22 | Open |  | 476420 |  | 476753 | Corporate Bonds | Open/Demand |

---

S C H E D U L E O F I N V E S T M E N T S 25

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face Value* | | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying*<br> *Collateral* | *Remaining* <br> *Contractual Maturity* <br> *of the Agreements<sup>(a)</sup>* |
|  BNP Paribas S.A | 2.72 %<sup>(b)</sup> | 07/22/22 | Open |  | $705180 |  | $705180 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/22/22 | Open |  | 320243 |  | 320367 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 695625 |  | 695862 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 173363 |  | 173414 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 537652 |  | 537814 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 1667500 |  | 1668000 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 3871875 |  | 3873037 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 1010100 |  | 1010403 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 790250 |  | 790513 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 2096250 |  | 2096949 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 882825 |  | 883119 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 2.80 <sup>(b)</sup> | 07/25/22 | Open |  | 158500 |  | 158554 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | (1.75)<sup>(b)</sup> | 07/25/22 | Open |  | 304705 |  | 304616 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | (0.50)<sup>(b)</sup> | 07/25/22 | Open |  | 352590 |  | 352556 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 781562 |  | 781797 | Capital Trusts | Open/Demand |
|  Barclays Capital Inc. | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 350494 |  | 350599 | Capital Trusts | Open/Demand |
|  Barclays Capital Inc. | 2.55 <sup>(b)</sup> | 07/25/22 | Open |  | 531255 |  | 531414 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 347871 |  | 347987 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 448555 |  | 448704 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 121860 |  | 121901 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 752505 |  | 752756 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 458562 |  | 458715 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 27100 |  | 27109 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 700729 |  | 700962 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 828991 |  | 829268 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 541205 |  | 541385 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 672750 |  | 672974 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 150108 |  | 150158 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 1465570 |  | 1466058 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 327980 |  | 328089 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 1006525 |  | 1006860 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 593880 |  | 594078 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 209790 |  | 209860 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 379208 |  | 379334 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/25/22 | Open |  | 695830 |  | 696062 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 1.80 <sup>(b)</sup> | 07/25/22 | Open |  | 924444 |  | 924606 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.11 <sup>(b)</sup> | 07/25/22 | Open |  | 1202130 |  | 1202402 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.13 <sup>(b)</sup> | 07/25/22 | Open |  | 1207500 |  | 1207778 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.15 <sup>(b)</sup> | 07/25/22 | Open |  | 1008805 |  | 1009040 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.17 <sup>(b)</sup> | 07/25/22 | Open |  | 1085542 |  | 1085799 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.21 <sup>(b)</sup> | 07/25/22 | Open |  | 1034656 |  | 1034908 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.33 <sup>(b)</sup> | 07/25/22 | Open |  | 1207342 |  | 1207660 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.37 <sup>(b)</sup> | 07/25/22 | Open |  | 1424782 |  | 1425167 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.37 <sup>(b)</sup> | 07/25/22 | Open |  | 1257525 |  | 1257865 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.39 <sup>(b)</sup> | 07/25/22 | Open |  | 1542004 |  | 1542425 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.49 <sup>(b)</sup> | 07/25/22 | Open |  | 1257812 |  | 1258177 | Capital Trusts | Open/Demand |
|  BNP Paribas S.A | 2.63 <sup>(b)</sup> | 07/25/22 | Open |  | 1485226 |  | 1485692 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.72 <sup>(b)</sup> | 07/25/22 | Open |  | 579250 |  | 579440 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.80 <sup>(b)</sup> | 07/25/22 | Open |  | 283610 |  | 283707 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.80 <sup>(b)</sup> | 07/25/22 | Open |  | 463361 |  | 463520 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.83 <sup>(b)</sup> | 07/25/22 | Open |  | 620362 |  | 620578 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A | 2.85 <sup>(b)</sup> | 07/25/22 | Open |  | 1581772 |  | 1582326 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 1363125 |  | 1363523 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 804375 |  | 804610 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 576875 |  | 577043 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 2070587 |  | 2071191 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 494000 |  | 494144 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 411750 |  | 411870 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 584500 |  | 584670 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 716625 |  | 716834 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 273575 |  | 273655 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/25/22 | Open |  | 2338219 |  | 2338901 | Corporate Bonds | Open/Demand |

---

26.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | <br>| *Interest*<br> *Rate* | *Trade*<br> *Date* | <br>| *Maturity*<br> *Date* | <br> *<sup>(a)</sup>*  | *Face Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying*<br> *Collateral* | *Remaining* <br> *Contractual Maturity* <br> *of the Agreements<sup>(a)</sup>*  |
|  RBC Capital Markets LLC |  | 2.50 %<sup>(b)</sup> | 07/25/22 |  | Open |  | $590175 | $590347 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 839000 | 839245 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 455625 | 455758 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 1107812 | 1108136 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 416611 | 416733 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 672000 | 672196 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 325500 | 325595 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 544687 | 544846 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 705000 | 705206 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 602000 | 602176 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 367000 | 367107 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 470000 | 470137 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 390000 | 390114 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 444375 | 444505 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 906250 | 906514 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 400000 | 400117 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 310108 | 310198 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 2054700 | 2055299 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 374500 | 374609 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.50 <sup>(b)</sup> | 07/25/22 |  | Open |  | 347338 | 347439 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.63 <sup>(b)</sup> | 07/25/22 |  | Open |  | 575050 | 575230 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.63 <sup>(b)</sup> | 07/25/22 |  | Open |  | 736189 | 736419 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 2441250 | 2442023 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 426855 | 426990 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 272630 | 272716 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 750622 | 750860 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 473269 | 473419 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 447615 | 447757 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 158619 | 158669 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 631849 | 632049 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 241313 | 241389 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 410603 | 410732 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 228319 | 228391 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 403953 | 404080 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 810405 | 810662 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 771610 | 771854 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 1582420 | 1583005 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 170033 | 170086 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/25/22 |  | Open |  | 158318 | 158368 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC |  | 2.49 <sup>(b)</sup> | 07/25/22 |  | Open |  | 234688 | 234767 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC |  | 2.00 <sup>(b)</sup> | 07/26/22 |  | Open |  | 10000 | 10002 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.60 <sup>(b)</sup> | 07/26/22 |  | Open |  | 1196737 | 1197106 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.60 <sup>(b)</sup> | 07/26/22 |  | Open |  | 1116990 | 1117334 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.60 <sup>(b)</sup> | 07/26/22 |  | Open |  | 1010324 | 1010635 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.60 <sup>(b)</sup> | 07/26/22 |  | Open |  | 961755 | 962052 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.60 <sup>(b)</sup> | 07/26/22 |  | Open |  | 1378541 | 1378966 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.80 <sup>(b)</sup> | 07/26/22 |  | Open |  | 381160 | 381268 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.80 <sup>(b)</sup> | 07/26/22 |  | Open |  | 323950 | 324042 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.80 <sup>(b)</sup> | 07/26/22 |  | Open |  | 120809 | 120843 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.85 <sup>(b)</sup> | 07/26/22 |  | Open |  | 290179 | 290263 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.85 <sup>(b)</sup> | 07/26/22 |  | Open |  | 1338240 | 1338630 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.90 <sup>(b)</sup> | 07/26/22 |  | Open |  | 1044834 | 1045146 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.90 <sup>(b)</sup> | 07/26/22 |  | Open |  | 712519 | 712731 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.90 <sup>(b)</sup> | 07/26/22 |  | Open |  | 858681 | 858938 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.90 <sup>(b)</sup> | 07/26/22 |  | Open |  | 915412 | 915686 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. |  | 2.90 <sup>(b)</sup> | 07/26/22 |  | Open |  | 2490900 | 2491644 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC |  | 2.65 <sup>(b)</sup> | 07/26/22 |  | Open |  | 266475 | 266545 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. |  | 2.65 <sup>(b)</sup> | 07/27/22 |  | Open |  | 1007817 | 1008030 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. |  | 2.75 <sup>(b)</sup> | 07/27/22 |  | Open |  | 1078735 | 1078975 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. |  | 2.75 <sup>(b)</sup> | 07/27/22 |  | Open |  | 625800 | 625939 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. |  | 2.75 <sup>(b)</sup> | 07/27/22 |  | Open |  | 924885 | 925091 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. |  | 2.75 <sup>(b)</sup> | 07/27/22 |  | Open |  | 488856 | 488965 | Corporate Bonds | Open/Demand |

---

S C H E D U L E O F I N V E S T M E N T S 27

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date<sup>(a)</sup>* | *Face Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining <br>Contractual Maturity <br>of the Agreements<sup>(a)</sup>* |
|  Barclays Capital Inc. | 2.75 %<sup>(b)</sup> | 07/27/22 | Open | $1170240 | $1170500 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 597379 | 597511 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 1266700 | 1266981 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 1522365 | 1522703 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 1574871 | 1575221 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 494000 | 494110 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 146475 | 146508 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 719950 | 720110 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 1120395 | 1120644 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 1610155 | 1610513 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 605250 | 605384 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 806760 | 806939 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 1161000 | 1161258 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 951781 | 951993 | Corporate Bonds | Open/Demand |
|  Barclays Capital Inc. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 837612 | 837799 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.35 <sup>(b)</sup> | 07/27/22 | Open | 342356 | 342417 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.36 <sup>(b)</sup> | 07/27/22 | Open | 187668 | 187701 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.40 <sup>(b)</sup> | 07/27/22 | Open | 114488 | 114508 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.40 <sup>(b)</sup> | 07/27/22 | Open | 396900 | 396973 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.54 <sup>(b)</sup> | 07/27/22 | Open | 599706 | 599826 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.58 <sup>(b)</sup> | 07/27/22 | Open | 301546 | 301608 | Foreign Agency Obligations | Open/Demand |
|  BNP Paribas S.A. | 2.68 <sup>(b)</sup> | 07/27/22 | Open | 810550 | 810724 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 307800 | 307867 | Foreign Agency Obligations | Open/Demand |
|  BNP Paribas S.A. | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 456875 | 456974 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 221619 | 221667 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 672750 | 672896 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 785722 | 785893 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 358775 | 358853 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.72 <sup>(b)</sup> | 07/27/22 | Open | 403048 | 403136 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.72 <sup>(b)</sup> | 07/27/22 | Open | 631925 | 632063 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 411413 | 411504 | Foreign Agency Obligations | Open/Demand |
|  BNP Paribas S.A. | 2.75 <sup>(b)</sup> | 07/27/22 | Open | 871780 | 871974 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.80 <sup>(b)</sup> | 07/27/22 | Open | 6386587 | 6388042 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.80 <sup>(b)</sup> | 07/27/22 | Open | 787787 | 787967 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.80 <sup>(b)</sup> | 07/27/22 | Open | 457725 | 457829 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.80 <sup>(b)</sup> | 07/27/22 | Open | 800685 | 800867 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.83 <sup>(b)</sup> | 07/27/22 | Open | 316838 | 316911 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.85 <sup>(b)</sup> | 07/27/22 | Open | 632790 | 632938 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.88 <sup>(b)</sup> | 07/27/22 | Open | 1053010 | 1053259 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.88 <sup>(b)</sup> | 07/27/22 | Open | 1005837 | 1006076 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 07/27/22 | Open | 444745 | 444851 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 07/27/22 | Open | 484075 | 484191 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 07/27/22 | Open | 173794 | 173835 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 07/27/22 | Open | 1049840 | 1050091 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 07/27/22 | Open | 370879 | 370967 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 2.90 <sup>(b)</sup> | 07/27/22 | Open | 686612 | 686777 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.50 <sup>(b)</sup> | 07/27/22 | Open | 366073 | 366144 | Foreign Agency Obligations | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.50 <sup>(b)</sup> | 07/27/22 | Open | 446875 | 446962 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.50 <sup>(b)</sup> | 07/27/22 | Open | 917187 | 917366 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.52 <sup>(b)</sup> | 07/27/22 | Open | 264364 | 264416 | Foreign Agency Obligations | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.52 <sup>(b)</sup> | 07/27/22 | Open | 436751 | 436837 | Foreign Agency Obligations | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.52 <sup>(b)</sup> | 07/27/22 | Open | 305094 | 305154 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.52 <sup>(b)</sup> | 07/27/22 | Open | 187274 | 187311 | Foreign Agency Obligations | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.55 <sup>(b)</sup> | 07/27/22 | Open | 1125000 | 1125225 | Capital Trusts | Open/Demand |

---

28.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date<sup>(a)</sup>* | *Face Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining <br>Contractual Maturity <br>of the Agreements<sup>(a)</sup>* |
|  Credit Agricole Corporate and Investment Bank | 2.57 %<sup>(b)</sup> | 07/27/22 | Open | $438421 | $438510 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.59 <sup>(b)</sup> | 07/27/22 | Open | 403926 | 404009 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.60 <sup>(b)</sup> | 07/27/22 | Open | 510875 | 510980 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.60 <sup>(b)</sup> | 07/27/22 | Open | 547545 | 547658 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.62 <sup>(b)</sup> | 07/27/22 | Open | 494146 | 494249 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 2.62 <sup>(b)</sup> | 07/27/22 | Open | 418381 | 418468 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | (0.75)<sup>(b)</sup> | 07/27/22 | Open | 183645 | 183630 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | 2.00 <sup>(b)</sup> | 07/27/22 | Open | 116090 | 116106 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | 2.55 <sup>(b)</sup> | 07/27/22 | Open | 342760 | 342829 | Foreign Agency Obligations | Open/Demand |
|  Credit Suisse Securities (USA) LLC | 2.55 <sup>(b)</sup> | 07/27/22 | Open | 257388 | 257439 | Foreign Agency Obligations | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/27/22 | Open | 228438 | 228482 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/27/22 | Open | 219450 | 219493 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.50 <sup>(b)</sup> | 07/27/22 | Open | 98096 | 98115 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.53 <sup>(b)</sup> | 07/27/22 | Open | 2393750 | 2394223 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.53 <sup>(b)</sup> | 07/27/22 | Open | 463750 | 463842 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.53 <sup>(b)</sup> | 07/27/22 | Open | 635540 | 635666 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.53 <sup>(b)</sup> | 07/27/22 | Open | 1671250 | 1671581 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.53 <sup>(b)</sup> | 07/27/22 | Open | 299688 | 299747 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 626250 | 626381 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 419143 | 419230 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 323010 | 323077 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 1302656 | 1302928 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 367716 | 367793 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 521369 | 521478 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 39816 | 39825 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 635160 | 635293 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 607447 | 607574 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 424500 | 424589 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 344768 | 344839 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 125208 | 125234 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 647701 | 647837 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 960520 | 960721 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.63 <sup>(b)</sup> | 07/27/22 | Open | 954687 | 954887 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 07/27/22 | Open | 75075 | 75091 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 07/27/22 | Open | 1137645 | 1137885 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 07/27/22 | Open | 136733 | 136761 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.65 <sup>(b)</sup> | 07/27/22 | Open | 257593 | 257647 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets LLC | 2.70 <sup>(b)</sup> | 07/27/22 | Open | 521000 | 521113 | Corporate Bonds | Open/Demand |
|  |  |  |  | $333730173 | $334080159 |  |  |

---

<sup>(a)</sup> Certain agreements have no stated maturity and can be terminated by either party at any time.

<sup>(b)</sup> Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

S C H E D U L E O F I N V E S T M E N T S 29

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Derivative Financial Instruments Outstanding as of Period End** 

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of<br>Contracts* | *Expiration<br>Date* | *Notional<br>Amount (000)* | *Value/<br>Unrealized<br>Appreciation<br>(Depreciation)* |
|  Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10-Year Japanese Government Treasury Bonds | 8 | 09/12/22 | $9029 | $(122705) |
| &nbsp;&nbsp;&nbsp;&nbsp; 10-Year U.S. Treasury Note | 446 | 09/21/22 | 53980 | (1542300) |
| &nbsp;&nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Long Treasury Note | 293 | 09/21/22 | 38365 | (465537) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Long Bond | 144 | 09/21/22 | 20642 | (346410) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultra U.S. Treasury Bond | 218 | 09/21/22 | 34103 | 44554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2-Year U.S. Treasury Note | 662 | 09/30/22 | 139325 | 272842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5-Year U.S. Treasury Note | 976 | 09/30/22 | 111012 | (1501217) |
|  |  |  |  | $(3660773) |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| USD | 6310 | EUR | 6000 | Deutsche Bank AG | 09/21/22 | $156 |
| USD | 9618706 | EUR | 8958000 | Natwest Markets PLC | 09/21/22 | 431177 |
| USD | 2848359 | GBP | 2295000 | HSBC Bank USA N.A. | 09/21/22 | 50315 |
| USD | 2083059 | GBP | 1661000 | Natwest Markets PLC | 09/21/22 | 57982 |
|  |  |  |  |  |  | 539630 |
| EUR | 522826 | USD | 553735 | Morgan Stanley & Co. International PLC | 09/21/22 | (17512) |
| GBP | 71517 | USD | 87482 | Deutsche Bank AG | 09/21/22 | (289) |
|  |  |  |  |  |  | (17801) |
|  |  |  |  |  |  | $521829 |

---

**OTC Credit Default Swaptions Purchased** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Paid by the Trust* | *Received by the Trust* |  |  | *Expiration* | *Credit* | *Exercise* | *Notional* | *Notional* |  |
| *Description* | *Rate/Reference* | *Rate/Reference* | *Frequency* | *Counterparty* | *Date* | *Rating<sup>(a)</sup>* | *Price* | *Amount (000)<sup>(b)</sup>* | *Amount (000)<sup>(b)</sup>* | *Value* |
|  Put |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Buy Protection 5-Year Credit Default Swap, 06/20/27 | 5.00% | ITRAXX.XO.37.V1 | Quarterly | Bank of America N.A. | 08/17/22 | N/R | EUR 600.00 | EUR | 181 | $476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Buy Protection 5-Year Credit Default Swap, 06/20/27 | 5.00% | ITRAXX.XO.37.V1 | Quarterly | Barclays Bank PLC | 09/21/22 | N/R | EUR 800.00 | EUR | 408 | 976 |
|  |  |  |  |  |  |  |  |  |  | $1452 |

---

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement. 

**Centrally Cleared Credit Default Swaps — Buy Protection** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing<br>Rate Paid<br>by the Trust* | *Payment<br>Frequency* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  CDX.NA.HY.38.V2 | 5.00% | Quarterly | 06/20/27 | USD | 5697 | $(97154) | $(148527) | $51373 |
|  CDX.NA.IG.38.V1 | 1.00 | Quarterly | 06/20/27 | USD | 19020 | (189193) | (165362) | (23831) |
|  |  |  |  |  |  | $(286347) | $(313889) | $27542 |

---

30.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Centrally Cleared Interest Rate Swaps** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Trust* | *Paid by the Trust* | *Received by the Trust* | *Received by the Trust* | *Effective<br>Date* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | *Effective<br>Date* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  1-Day SOFR, 2.32% | Annual | 3.01% | Annual | 10/05/22 <sup>(a)</sup> | 06/30/24 | USD | 13295 | $18346 | $58 | $18288 |
|  2.86% | Annual | 1-Day SOFR, 2.32% | Annual | 10/05/22 <sup>(a)</sup> | 11/30/26 | USD | 13295 | (192513) | 121 | (192634) |
|  3-Month LIBOR, 2.79% | Quarterly | 1.55% | Semi-Annual | N/A | 10/08/31 | USD | 28600 | (2642120) | 430 | (2642550) |
|  1.61% | Semi-Annual | 3-Month LIBOR, 2.79% | Quarterly | N/A | 03/28/32 | USD | 10600 | 974727 | 164 | 974563 |
|  1.66% | Semi-Annual | 3-Month LIBOR, 2.79% | Quarterly | N/A | 04/25/32 | USD | 10290 | 917727 | 163 | 917564 |
|  1.73% | Semi-Annual | 3-Month LIBOR, 2.79% | Quarterly | N/A | 10/08/36 | USD | 32800 | 4234670 | 626 | 4234044 |
|  3-Month LIBOR, 2.79% | Quarterly | 1.84% | Semi-Annual | N/A | 10/08/51 | USD | 11500 | (2159196) | 354 | (2159550) |
|  3-Month LIBOR, 2.79% | Quarterly | 1.93% | Semi-Annual | N/A | 10/22/51 | USD | 2840 | (478608) | 87 | (478695) |
|  3-Month LIBOR, 2.79% | Quarterly | 1.92% | Semi-Annual | N/A | 10/27/51 | USD | 1420 | (242524) | 44 | (242568) |
|  |  |  |  |  |  |  |  | $430509 | $2047 | $428462 |

---

<sup>(a)</sup> Forward Swap.

**OTC Credit Default Swaps — Buy Protection** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligations/Index* | *Financing<br>Rate Paid*<br> *by the Trust* | *Payment<br>Frequency* | *Counterparty* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  CMBX.NA.7 | 3.00% | Monthly | Deutsche Bank AG | 01/17/47 | USD | 25000 | $4789616 | $1691567 | $3098049 |

---

**OTC Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | *Reference Obligation/Index* | *Financing<br>Rate Received<br>by the Trust* | *Payment<br>Frequency* | *Counterparty* | *Termination<br>Date* | *Credit <br>Rating<sup>(a)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  | Casino, Guichard-Perrachon S.A | 5.00% | Quarterly | JPMorgan Chase Bank N.A. | 06/20/23 | B | EUR | 20 | $(2219) | $(1587) | $(632) |
|  | Novafives S.A.S | 5.00 | Quarterly | Citibank N.A. | 06/20/23 | B- | EUR | 20 | (1842) | (1225) | (617) |
|  | Adler Real Estate AG | 5.00 | Quarterly | Morgan Stanley & Co. International PLC | 12/20/25 | CCC | EUR | 20 | (5080) | 2399 | (7479) |
|  | Virgin Media Finance PLC | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/25 | B | EUR | 20 | 669 | 1858 | (1189) |
|  | Adler Real Estate AG | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/26 | N/R | EUR | 10 | (2571) | 821 | (3392) |
|  | Adler Real Estate AG | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/26 | N/R | EUR | 10 | (2571) | 922 | (3493) |
|  | CMA CGM SA | 5.00 | Quarterly | Credit Suisse International | 06/20/26 | N/R | EUR | 10 | 161 | 411 | (250) |
|  | Adler Real Estate AG | 5.00 | Quarterly | Citibank N.A. | 12/20/26 | CCC | EUR | 10 | (2616) | 217 | (2833) |
|  | CMA CGM SA | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/26 | BB+ | EUR | 30 | 113 | 1173 | (1060) |
|  | Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Bank of America N.A. | 12/20/26 | B+ | EUR | 20 | (2995) | (768) | (2227) |
|  | Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Barclays Bank PLC | 12/20/26 | B+ | EUR | 10 | (1520) | 391 | (1911) |
|  | Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Credit Suisse International | 12/20/26 | B+ | EUR | 10 | (1478) | 401 | (1879) |
|  | K&S AG | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/26 | BB | EUR | 30 | 2181 | 2373 | (192) |
|  | CMA CGM SA | 5.00 | Quarterly | Barclays Bank PLC | 06/20/27 | BB+ | EUR | 3 | (24) | 99 | (123) |
|  | CMA CGM SA | 5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 50 | (379) | 2247 | (2626) |
|  | CMA CGM SA | 5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 17 | (134) | 585 | (719) |
|  | CMA CGM SA | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB+ | EUR | 18 | (134) | 637 | (771) |
|  | CMA CGM SA | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB+ | EUR | 17 | (127) | 598 | (725) |
|  | CMA CGM SA | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB+ | EUR | 5 | (35) | 168 | (203) |
|  | Ladbrokes Coral Group Ltd. | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB | EUR | 10 | (1414) | (1092) | (322) |
|  | Ladbrokes Coral Group Ltd. | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB | EUR | 60 | (8485) | (10452) | 1967 |
|  | CMBX.NA.7 | 3.00 | Monthly | Barclays Bank PLC | 01/17/47 | C- | USD | 10000 | (1915847) | (474381) | (1441466) |
|  | CMBX.NA.7 | 3.00 | Monthly | Barclays Bank PLC | 01/17/47 | C- | USD | 5000 | (957924) | (236917) | (721007) |
|  | CMBX.NA.7 | 3.00 | Monthly | Barclays Bank PLC | 01/17/47 | C- | USD | 10000 | (1915846) | (234657) | (1681189) |
|  | CMBX.NA.9 | 3.00 | Monthly | Morgan Stanley & Co. International PLC | 09/17/58 | N/R | USD | 2500 | (409418) | (522558) | 113140 |

---

S C H E D U L E O F I N V E S T M E N T S 31

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**OTC Credit Default Swaps — Sell Protection (continued)** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | *Reference Obligation/Index* | *Financing<br>Rate Received<br>by the Trust* | *Payment<br>Frequency* | *Counterparty* | *Termination<br>Date* | *Credit <br>Rating<sup>(a)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>*  | *Notional* <br> *Amount (000)<sup>(b)</sup>*  | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  | CMBX.NA.9 | 3.00% | Monthly | Morgan Stanley & Co. International PLC | 09/17/58 | N/R | USD | 5000 | $(818835) | $(517390) | $(301445) |
|  | CMBX.NA.9 | 3.00 | Monthly | Morgan Stanley & Co. International PLC | 09/17/58 | N/R | USD | 972 | (159182) | (105370) | (53812) |
|  |  |  |  |  |  |  |  |  | $(6207552) | $(2091097) | $(4116455) |

---

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement. 

**Fair Value Hierarchy as of Period End** 

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the
Trust has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or
liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield
curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent
observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee's (the "Global Valuation Committee's") assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust's financial instruments categorized in the fair value hierarchy. The breakdown of the Trust's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
|  Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62393886 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142808 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64536694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438336 |  |  | 4438336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense |  | 16664399 |  | 16664399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Airlines |  | 11761303 |  | 11761303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auto Components |  | 7093626 |  | 7093626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobiles |  | 11671491 |  | 11671491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks |  | 7437132 |  | 7437132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beverages |  | 11383172 |  | 11383172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology |  | 988977 |  | 988977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Materials |  | 2999736 |  | 2999736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Products |  | 4792029 |  | 4792029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Markets |  | 6465092 |  | 6465092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemicals |  | 12995948 |  | 12995948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies |  | 5110136 |  | 5110136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment |  | 3211591 |  | 3211591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction Materials |  | 1466706 |  | 1466706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary |  | 8352999 |  | 8352999 |

---

32.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Fair Value Hierarchy as of Period End (continued)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | $— | $9909984 | $— | $9909984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging |  | 2801817 |  | 2801817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Consumer Services |  | 10263523 |  | 10263523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Financial Services |  | 10021168 |  | 10021168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services |  | 19595961 |  | 19595961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Education |  | 234060 |  | 234060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities |  | 6111313 |  | 6111313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment |  | 712064 |  | 712064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components |  | 3860928 |  | 3860928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services |  | 2232410 |  | 2232410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental, Maintenance & Security Service |  | 4269375 |  | 4269375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Real Estate Investment Trusts (REITs) |  | 5264869 |  | 5264869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food & Staples Retailing |  | 8422983 |  | 8422983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Products |  | 3839729 |  | 3839729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas Utilities |  | 106589 |  | 106589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies |  | 2064621 |  | 2064621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services |  | 19173867 |  | 19173867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology |  | 5289178 |  | 5289178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure |  | 16959267 |  | 16959267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Durables |  | 3255563 |  | 3255563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers |  | 5760207 |  | 5760207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance |  | 11607519 |  | 11607519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services |  | 2381043 |  | 2381043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Internet & Direct Marketing Retail |  | 95049 |  | 95049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Internet Software & Services |  | 8070098 |  | 8070098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services |  | 7047583 |  | 7047583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leisure Products |  | 703437 |  | 703437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Machinery |  | 5443397 |  | 5443397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Media |  | 51984791 |  | 51984791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining |  | 14067344 |  | 14067344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multiline Retail |  | 495172 |  | 495172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Offshore Drilling & Other Services |  | 2109779 |  | 2109779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | 162055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70861288 |  | 71023343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personal Products |  | 97837 |  | 97837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals |  | 8391525 |  | 8391525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate |  | 119337 |  | 119337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development |  | 3429209 | 36000 | 3465209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Road & Rail |  | 3138186 |  | 3138186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment |  | 3531565 |  | 3531565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software |  | 8844584 |  | 8844584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail |  | 2393339 |  | 2393339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals |  | 880110 |  | 880110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods |  | 528860 |  | 528860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thrifts & Mortgage Finance |  | 1503997 |  | 1503997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco |  | 1972921 |  | 1972921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation |  | 89134 |  | 89134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Infrastructure |  | 2949850 |  | 2949850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities |  | 9575776 |  | 9575776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services |  | 8085502 |  | 8085502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests |  | 40276233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455638 | 41731871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Agency Obligations |  | 18353460 |  | 18353460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 1036080 |  | 1036080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Mortgage-Backed Securities |  | 68695414 |  | 68695414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trusts |  | 38037555 |  | 38037555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14082036 |  |  | 14082036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Sponsored Agency Securities |  | 168578797 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168578797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 21796872 |  |  | 21796872 |

---

S C H E D U L E O F I N V E S T M E N T S 33

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Fair Value Hierarchy as of Period End (continued)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Purchased |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | $— | $1452 | $— | $1452 |
|  Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA Sale Commitments |  | (17645825) |  | (17645825) |
| &nbsp;&nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup>  |  | (18165) |  | (18165) |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;40479299 | $&nbsp;&nbsp;&nbsp;&nbsp;862650932 | $&nbsp;&nbsp;&nbsp;&nbsp;3634446 | $&nbsp;&nbsp;&nbsp;&nbsp;906764677 |
|  Derivative Financial Instruments<sup>(b)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | $— | $3264529 | $— | $3264529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts |  | 539630 |  | 539630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | 317396 | 6144459 |  | 6461855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts |  | (4255393) |  | (4255393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts |  | (17801) |  | (17801) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | (3978169) | (5715997) |  | (9694166) |
|  | $(3660773) | $(40573) | $— | $(3701346) |

---

<sup>(a)</sup> Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

<sup>(b)</sup> Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. 

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial statement purposes. As of period end, reverse repurchase agreements of $334,080,159 are categorized as Level 2 within the fair value hierarchy.

A reconciliation of Level 3 financial instruments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Asset-Backed<br>Securities* | *Corporate<br>Bonds* | *Floating<br>Rate Loan<br>Interests* | *Warrants* | *Total* |
|  **Assets** |  |  |  |  |  |
|  Opening balance, as of October 31, 2021 | $1662822 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536662 | $2589803 | $— | $5789287 |
|  Transfers into Level 3 | 1110000 | 58035 | 1165101 |  | 2333136 |
|  Transfers out of Level 3 |  | (1536662) | (1507570) |  | (3044232) |
|  Accrued discounts/premiums | 891 |  | 2162 |  | 3053 |
|  Net realized gain (loss) | (11882) |  | (12882) |  | (24764) |
|  Net change in unrealized appreciation (depreciation)<sup>(a)</sup>  | (449117) | (22035) | (135155) |  | (606307) |
|  Purchases |  |  | 375995 |  | 375995 |
|  Sales | (169906) |  | (1021816) |  | (1191722) |
|  Closing balance, as of July 31, 2022 | $&nbsp;&nbsp;&nbsp;&nbsp;2142808 | $36000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455638 | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634446 |
|  Net change in unrealized appreciation (depreciation) on investments still held at July 31, 2022<sup>(a)</sup> | $(449117) | $(22035) | $(113804) | $— | $(584956) |

---

<sup>(a)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at July 31, 2022 is generally due to investments no longer held or categorized as Level 3 at period end.

The Trust's financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| EUR | Euro |
| GBP | British Pound |
| USD | United States Dollar |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| CAB | Capital Appreciation Bonds |
| CDI | CREST Depository Interest |
| CLO | Collateralized Loan Obligation |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| CR | Custodian Receipt |

---

34.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> July 31, 2022 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| DAC | Designated Activity Company |
| DIP | Debtor-In-Possession |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation Bonds |
| LIBOR | London Interbank Offered Rate |
| MTA | Month Treasury Average |
| PCL | Public Company Limited |
| PIK | Payment-in-Kind |
| RB | Revenue Bond |
| REIT | Real Estate Investment Trust |
| REMIC | Real Estate Mortgage Investment Conduit |
| SAB | Special Assessment Bonds |
| SG | Syncora Guarantee |
| SOFR | Secured Overnight Financing Rate |
| TBA | To-Be-Announced |

---

S C H E D U L E O F I N V E S T M E N T S 35

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Multi-Sector Income Trust

- **b. Investment Company Act file number:** 811-22774

- **c. CIK number of Registrant:** 0001562818

- **d. LEI of Registrant:** 549300BOVTR6GS7HLC41

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Multi-Sector Income Trust

- **c. LEI of Series:** 549300BOVTR6GS7HLC41

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

- **a. Date of fiscal year-end:** 2022-10-31

- **b. Date as of which information is reported:** 2022-07-31

**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:** $963628742.84

**Total Liabilities:** $384331667.20

**Net Assets:** $579297075.64

**Delayed Delivery Securities:** $36026554.00

**Cash Not Reported:** $13919255.02

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 6608.90000000 | **1-Year:** 3624.08000000 | **5-Year:** 70354.78000000 | **10-Year:** 20201.59000000 | **30-Year:** 61375.89000000

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

- **3-Month:** 50427.55000000 | **1-Year:** 11288.65000000 | **5-Year:** 129551.10000000 | **10-Year:** 4666.56000000 | **30-Year:** 49501.80000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.87%               | -6.48%               | 5.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4312305.13             | $-2667054.75                               |
| Month 2  | $-17310929.39            | $-27610162.44                              |
| Month 3  | $-2892485.04             | $34465477.86                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CITIBANK NA                                         | SWAP/CDSWAP/SCDS: (NVFVES)                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | XX        |     20000 | OU      | $-1842.44     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                 | United Airlines Inc                                                                 | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    588000 | PA      | $564480.00    | 0.10%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/Community Health Systems Inc                                                    | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    585000 | PA      | $510412.50    | 0.09%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PROPULSION BC FINCO S A R L                         | PROPULSION BC FINCO S A R L                                                         | CUSIP: 000000000<br>LEI: 254900S4YQSQVLEZ8D35 | Long             | LON              | CORP              | LU        |    202538 | PA      | $194436.48    | 0.03%             | 2029-02-10      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    332000 | PA      | $280540.00    | 0.05%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP TERRIER MEDIA BUYER INC                                                         | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -631849 | PA      | $-631848.75   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                            | Outfront Media Capital LLC / Outfront Media Capital Corp                            | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $16051.53     | 0.00%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                            | Discovery Communications LLC                                                        | CUSIP: 25470DAG4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    400000 | PA      | $346262.23    | 0.06%             | 2042-05-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HERENS HOLDCO SARL                                  | Herens Holdco Sarl                                                                  | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |    671000 | PA      | $562420.42    | 0.10%             | 2028-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                              | Nationstar Mortgage Holdings Inc                                                    | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    237000 | PA      | $219495.18    | 0.04%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Clear Creek CLO Ltd                                 | Clear Creek CLO                                                                     | CUSIP: 18452LAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $230870.43    | 0.04%             | 2030-10-20      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP ALLIED UNIVERSAL HOLDCO LLC                                                     | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -418381 | PA      | $-418381.25   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-23CB                                                    | CUSIP: 02151EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4201784 | PA      | $2636100.18   | 0.46%             | 2037-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                             | GCI LLC                                                                             | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    255000 | PA      | $232407.00    | 0.04%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                            | Hilcorp Energy I LP / Hilcorp Finance Co                                            | CUSIP: 431318AS3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |    188000 | PA      | $182067.66    | 0.03%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                            | Ashton Woods USA LLC / Ashton Woods Finance Co                                      | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $99218.38     | 0.02%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | EnLink Midstream Partners LP                                                        | CUSIP: 29336UAE7<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |     68000 | PA      | $66857.60     | 0.01%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Calpine Corp                                        | Calpine Corp                                                                        | CUSIP: 131347CK0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    195000 | PA      | $196714.05    | 0.03%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140H9A94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3394367 | PA      | $3513779.26   | 0.61%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1206051 | PA      | $-1206050.73  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| DP WORLD SALAAM                                     | DP World Salaam                                                                     | CUSIP: 000000000<br>LEI: 549300SUYBT9X88E9435 | Long             | DBT              | CORP              | KY        |    456000 | PA      | $456855.00    | 0.08%             | 2025-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMC Networks Inc                                    | AMC Networks Inc                                                                    | CUSIP: 00164VAD5<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15940.00     | 0.00%             | 2024-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                            | Viking Ocean Cruises Ship VII Ltd                                                   | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    233000 | PA      | $201231.62    | 0.03%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NIELSEN FINANCE LLC/CO                              | Nielsen Finance LLC / Nielsen Finance Co                                            | CUSIP: 65409QBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    633000 | PA      | $620340.00    | 0.11%             | 2028-10-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ANHEUSER-BUSCH COMPANIES LLC                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2054700 | PA      | $-2054700.00  | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                                 | Boxer Parent Co Inc                                                                 | CUSIP: 000000000<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97912.36     | 0.02%             | 2025-10-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC               | CUSIP: 013092AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127000 | PA      | $131150.16    | 0.02%             | 2026-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                                  | Raytheon Technologies Corp                                                          | CUSIP: 913017CJ6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    700000 | PA      | $619863.62    | 0.11%             | 2046-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    397000 | PA      | $395773.27    | 0.07%             | 2025-06-16      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 31418CV43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30688 | PA      | $31611.28     | 0.01%             | 2048-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Element Materials Technology Group US Holdings Inc. | Element Materials Technology Group US Holdings Inc. 2022 USD Delayed Draw Term Loan | CUSIP: 000000000<br>LEI: 213800EGOJGGUKUGEZ30 | Long             | LON              | CORP              | US        |     41019 | PA      | $39378.39     | 0.01%             | 2029-06-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP TRANSDIGM I                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -754875 | PA      | $-754875.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                              | China Aoyuan Group Ltd                                                              | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    435000 | PA      | $23925.00     | 0.00%             | 2024-02-08      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 156700AT3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    192000 | PA      | $149760.00    | 0.03%             | 2042-03-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                     | BRAVO Residential Funding Trust 2021-NQM1                                           | CUSIP: 10569TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    872876 | PA      | $814519.24    | 0.14%             | 2049-02-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                            | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                              | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    295000 | PA      | $261075.00    | 0.05%             | 2026-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                            | Acuris Finance US Inc / Acuris Finance SARL                                         | CUSIP: 00511BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    514000 | PA      | $431760.00    | 0.07%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                              | Chesapeake Energy Corp                                                              | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    662000 | PA      | $685732.70    | 0.12%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP COLGATE ENERGY PARTNERS III LL                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -358775 | PA      | $-358775.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                            | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp                  | CUSIP: 67421QAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $114675.28    | 0.02%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC                        | RRP FNMA 30YR UMBS                                                                  | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Short            | RA               | CORP              | US        |  -4000853 | PA      | $-4000852.62  | -0.69%            |  |  |  | No            |                  2 | On Loan: No      |
| AVSC Holding Corp.                                  | AVSC Holding Corp. 2018 2nd Lien Term Loan                                          | CUSIP: 00241YAQ7<br>LEI: 549300CLJBQ9YSR4U689 | Long             | LON              | CORP              | US        |    622703 | PA      | $465470.49    | 0.08%             | 2025-09-01      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599EB7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152812.50    | 0.03%             | 2025-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                            | Outfront Media Capital LLC / Outfront Media Capital Corp                            | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    183000 | PA      | $156406.58    | 0.03%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PDC Energy Inc                                      | PDC Energy Inc                                                                      | CUSIP: 69327RAG6<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |     89000 | PA      | $88560.38     | 0.02%             | 2024-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP V                               | Crown Americas LLC / Crown Americas Capital Corp V                                  | CUSIP: 22819KAB6<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    513000 | PA      | $499672.26    | 0.09%             | 2026-09-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP WR GRACE HO                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -243000 | PA      | $-243000.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP KRAFT HEINZ                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -461700 | PA      | $-461700.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                              | China Aoyuan Group Ltd                                                              | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $13100.00     | 0.00%             | 2025-08-18      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| ION TRADING TECHNOLOGIES                            | ION Trading Technologies Sarl                                                       | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |    246000 | PA      | $202182.48    | 0.03%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                             | Booz Allen Hamilton Inc                                                             | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    503000 | PA      | $479844.40    | 0.08%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL BV                             | Equate Petrochemical BV                                                             | CUSIP: 29441WAD7<br>LEI: 635400Y3Z5R4NJSMQ630 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $179250.00    | 0.03%             | 2028-04-28      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP HSBC HOLDINGS PLC                                                               | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -350494 | PA      | $-350493.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                             | Asbury Automotive Group Inc                                                         | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    168000 | PA      | $153729.72    | 0.03%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                              | Oman Government International Bond                                                  | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    224000 | PA      | $202720.00    | 0.03%             | 2051-01-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NMG HLDCO/NEIMAN MARCUS                             | NMG Holding Co Inc / Neiman Marcus Group LLC                                        | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    506000 | PA      | $495171.60    | 0.09%             | 2026-04-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                      | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1512000 | PA      | $1317466.08   | 0.23%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP IMOLA MERGER CORP                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -631925 | PA      | $-631925.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                   | Chile Government International Bond                                                 | CUSIP: 168863DW5<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $172700.00    | 0.03%             | 2052-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                            | Cheniere Energy Partners LP                                                         | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    520000 | PA      | $483178.80    | 0.08%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP INTESA SANPAOLO SPA                                                             | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -2490900 | PA      | $-2490900.00  | -0.43%            |  |  |  | No            |                  2 | On Loan: No      |
| Allied Universal                                    | Allied Universal Holdco LLC / Allied Universal Finance Corp                         | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2705000 | PA      | $2621063.85   | 0.45%             | 2026-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT, INC.                                    | Proofpoint, Inc. 2nd Lien Term Loan                                                 | CUSIP: 000000000<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    471625 | PA      | $453349.53    | 0.08%             | 2029-08-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                              | Credit Suisse Group AG                                                              | CUSIP: 225401AL2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    358000 | PA      | $302510.00    | 0.05%             | 2026-08-21      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1216644.24   | 0.21%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                        | Calpine Corp                                                                        | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    145000 | PA      | $130392.70    | 0.02%             | 2029-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                            | Acadia Healthcare Co Inc                                                            | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     71000 | PA      | $68802.55     | 0.01%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CHOBANI LLC                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -575050 | PA      | $-575050.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                                        | Yuzhou Group Holdings Co Ltd                                                        | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $14000.00     | 0.00%             | 2025-05-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TAP ROCK RESOURCES LLC                              | Tap Rock Resources LLC                                                              | CUSIP: 87602LAA0<br>LEI: 549300Y3SDS1HPFQ6H17 | Long             | DBT              | CORP              | US        |    982000 | PA      | $927990.00    | 0.16%             | 2026-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Rossini Sarl                                        | Rossini Sarl                                                                        | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |    166000 | PA      | $170424.40    | 0.03%             | 2025-10-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INTERCORP PERU LTD                                  | Intercorp Peru Ltd                                                                  | CUSIP: 458652AB0<br>LEI: 549300L0OFVSOE4NSY75 | Long             | DBT              | CORP              | BS        |    270000 | PA      | $220218.75    | 0.04%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                  | CDS: (CMBX.NA.9.BBB-)                                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | US        |   2500000 | OU      | $-409417.65   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                        | Embecta Corp                                                                        | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    195000 | PA      | $179107.50    | 0.03%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1006525 | PA      | $-1006525.00  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                             | Standard Industries Inc/NJ                                                          | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1082000 | PA      | $945105.36    | 0.16%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                        | US Foods Inc                                                                        | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     51000 | PA      | $46728.75     | 0.01%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Cloudera, Inc.                                      | Cloudera, Inc. 2021 Term Loan                                                       | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    518680 | PA      | $490152.60    | 0.08%             | 2028-10-08      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| HEUNGKUK LIFE INSURANCE                             | Heungkuk Life Insurance Co Ltd                                                      | CUSIP: 000000000<br>LEI: 988400EEEB3WBUD4BW44 | Long             | DBT              | CORP              | KR        |    200000 | PA      | $193037.50    | 0.03%             | 2022-11-09      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| CIENA CORP                                          | Ciena Corp                                                                          | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    133000 | PA      | $121695.00    | 0.02%             | 2030-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                                 | Viavi Solutions Inc                                                                 | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    454000 | PA      | $399968.55    | 0.07%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEPTUNE ENERGY BONDCO                               | Neptune Energy Bondco PLC                                                           | CUSIP: 64073KAA1<br>LEI: 549300CPMT8I2QBRYF88 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $193280.00    | 0.03%             | 2025-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP WYNN RESORTS FINANCE LLC                                                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -593880 | PA      | $-593880.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Camelot U.S. Acquisition LLC                        | Camelot U.S. Acquisition LLC Term Loan B                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    200850 | PA      | $195639.95    | 0.03%             | 2026-10-30      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                            | CrownRock LP / CrownRock Finance Inc                                                | CUSIP: 228701AG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $52016.16     | 0.01%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POSTE ITALIANE SPA                                  | Poste Italiane SpA                                                                  | CUSIP: 000000000<br>LEI: 815600354DEDBD0BA991 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $72565.53     | 0.01%             | 2029-03-24      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                   | Citigroup Mortgage Loan Trust 2006-AR7                                              | CUSIP: 172987AY5<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    893663 | PA      | $845611.03    | 0.15%             | 2036-11-25      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                               | SS&C Technologies Inc                                                               | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1430249.04   | 0.25%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                         | SCDS: (ADLERR)                                                                      | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | XX        |     10000 | OU      | $-2616.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                               | Melco Resorts Finance Ltd                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $195000.00    | 0.03%             | 2026-04-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                 | American Express Co                                                                 | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    940000 | PA      | $826260.00    | 0.14%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corporation                 | Nomura Asset Acceptance Corp Alternative Loan Trust Series 2006-AF1                 | CUSIP: 65536PAC4<br>LEI: N0RUIPD25XQCBR0TK507 | Long             | ABS-MBS          | CORP              | US        |   6817011 | PA      | $1755293.07   | 0.30%             | 2036-05-25      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                               | Trivium Packaging Finance BV                                                        | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1189000 | PA      | $1171165.00   | 0.20%             | 2026-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust                  | Renaissance Home Equity Loan Trust 2007-3                                           | CUSIP: 75971FAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3649417 | PA      | $1759595.06   | 0.30%             | 2037-09-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                            | PetSmart Inc / PetSmart Finance Corp                                                | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    895000 | PA      | $861634.40    | 0.15%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                | Colombia Government International Bond                                              | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    677000 | PA      | $534745.38    | 0.09%             | 2031-04-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                           | Arko Corp                                                                           | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $194898.56    | 0.03%             | 2029-11-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                    | Societe Generale SA                                                                 | CUSIP: 83367TBU2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3000000 | PA      | $2820143.34   | 0.49%             | 2028-04-06      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                       | CommScope Inc                                                                       | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    604000 | PA      | $525165.92    | 0.09%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP UNITEDHEALTH GROUP INC                                                          | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -705000 | PA      | $-705000.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| AT&T INC                                            | AT&T Inc                                                                            | CUSIP: 00206RJK9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    111000 | PA      | $104360.52    | 0.02%             | 2044-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                 | GS Mortgage-Backed Securities Trust 2021-PJ7                                        | CUSIP: 36262CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2216495 | PA      | $1952058.55   | 0.34%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                     | IHS Holding Ltd                                                                     | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $163000.00    | 0.03%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |    256000 | PA      | $243850.24    | 0.04%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP TITAN ACQUISITION LTD                                                           | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -837612 | PA      | $-837612.50   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP NEW FORTRESS ENERGY LLC                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1005838 | PA      | $-1005837.50  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| NCR CORP                                            | NCR Corp                                                                            | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    143000 | PA      | $136023.40    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRUPO AVAL LTD                                      | Grupo Aval Ltd                                                                      | CUSIP: 40053FAC2<br>LEI: 549300J4FW1ELLQ80113 | Long             | DBT              | CORP              | KY        |    512000 | PA      | $404480.00    | 0.07%             | 2030-02-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIC ASSET AG                                        | DIC Asset AG                                                                        | CUSIP: 000000000<br>LEI: 52990044JL2ZPWONU738 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $73434.68     | 0.01%             | 2026-09-22      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                              | NextEra Energy Capital Holdings Inc                                                 | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2303391.33   | 0.40%             | 2079-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP LLOYDS BANK                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -464144 | PA      | $-464143.75   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Momentive Performance Materials Inc.                | Momentive Performance Materials Inc. Term Loan B                                    | CUSIP: 60877JAB8<br>LEI: 54930021ZH8MCUXACZ50 | Long             | LON              | CORP              | US        |         0 | PA      | $0.08         | 0.00%             | 2024-05-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| TENDAM BRANDS SAU                                   | Tendam Brands SAU                                                                   | CUSIP: 000000000<br>LEI: 959800F8A7CLAN0C2203 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $97350.23     | 0.02%             | 2024-09-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE INTERNATIONAL                         | SWAP/CDSWAP/SCDS: (CMACG)                                                           | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | XX        |     17657 | OU      | $-134.44      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                                | Lorca Telecom Bondco SA                                                             | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $93279.61     | 0.02%             | 2027-09-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP APTIV PLC                                                                       | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -219450 | PA      | $-219450.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    320000 | PA      | $303584.00    | 0.05%             | 2027-08-17      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Sprint Corp                                         | Sprint Corp                                                                         | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2024-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132DWBT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6363562 | PA      | $5736323.03   | 0.99%             | 2051-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP GOLDMAN SACHS GROUP INC/THE                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -672750 | PA      | $-672750.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE                            | Burlington Northern Santa Fe LLC                                                    | CUSIP: 12189LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $495920.50    | 0.09%             | 2042-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        | -62569435 | PA      | $-62569434.71 | -10.80%           |  |  |  | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                             | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                        | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $32445.00     | 0.01%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                             | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC                          | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    637000 | PA      | $490368.97    | 0.08%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OP CO LP/FIVE                            | Five Point Operating Co LP / Five Point Capital Corp                                | CUSIP: 33834YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     41000 | PA      | $34850.00     | 0.01%             | 2025-11-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                | Vermilion Energy Inc                                                                | CUSIP: 923725AD7<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |    204000 | PA      | $196835.52    | 0.03%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                            | Brookfield Residential Properties Inc / Brookfield Residential US LLC               | CUSIP: 11283YAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    266000 | PA      | $204421.00    | 0.04%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| XEROX CORPORATION                                   | Xerox Corp                                                                          | CUSIP: 984121CL5<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |     65000 | PA      | $49736.81     | 0.01%             | 2035-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| KENBOURNE INVEST SA                                 | Kenbourne Invest SA                                                                 | CUSIP: 48855KAC4<br>LEI: 222100QGH6Y9KFYZ4B27 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $141500.00    | 0.02%             | 2028-01-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                     | Lamb Weston Holdings Inc                                                            | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    368000 | PA      | $342963.37    | 0.06%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                 | Kinetik Holdings LP                                                                 | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    709000 | PA      | $720195.11    | 0.12%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC               | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    377000 | PA      | $365690.00    | 0.06%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                        | CSMC Series 2011-4R                                                                 | CUSIP: 12645KAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1432739 | PA      | $1252801.96   | 0.22%             | 2037-09-27      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP WILLIAMS COMPANIES INC                                                          | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1671250 | PA      | $-1671250.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Callon Petroleum Co                                 | Callon Petroleum Co                                                                 | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    152000 | PA      | $145717.84    | 0.03%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                        | Calpine Corp                                                                        | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     58000 | PA      | $51430.34     | 0.01%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC            | Amentum Government Services Holdings LLC Term Loan B                                | CUSIP: 57776DAB9<br>LEI: 5493008CT6B5L54YSE94 | Long             | LON              | CORP              | US        |     79380 | PA      | $76750.93     | 0.01%             | 2027-01-29      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                             | United Rentals North America Inc                                                    | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    173000 | PA      | $175855.37    | 0.03%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                     | Benefit Street Partners CLO XX Ltd                                                  | CUSIP: 08182FAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $233975.25    | 0.04%             | 2034-07-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                    | Societe Generale SA                                                                 | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3000000 | PA      | $2517340.80   | 0.43%             | 2030-11-18      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP DISCOVERY COMMUNICATIONS LLC                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -325500 | PA      | $-325500.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| APACHE CORP                                         | Apache Corp                                                                         | CUSIP: 037411BF1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    315000 | PA      | $303488.33    | 0.05%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                           | Ball Corp                                                                           | CUSIP: 058498AX4<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    481000 | PA      | $421476.25    | 0.07%             | 2031-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                             | Royal Caribbean Cruises Ltd                                                         | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    343000 | PA      | $257006.47    | 0.04%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Banff Merger Sub Inc                                | Banff Merger Sub Inc 2021 USD Term Loan                                             | CUSIP: 05988HAE7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    213919 | PA      | $205567.78    | 0.04%             | 2025-10-02      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| THETA CAPITAL PTE LTD                               | Theta Capital Pte Ltd                                                               | CUSIP: 000000000<br>LEI: 2549003I5QVCGQHCYJ52 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $160412.50    | 0.03%             | 2025-01-22      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                    | Deutsche Bank AG                                                                    | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $97792.78     | 0.02%             | 2032-06-24      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP WESTERN GAS PARTNERS LP                                                         | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -695830 | PA      | $-695830.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                             | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                        | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $49236.53     | 0.01%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                         | Vistra Corp                                                                         | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    307000 | PA      | $285491.58    | 0.05%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | Caesars Entertainment Inc                                                           | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   2072000 | PA      | $2072000.00   | 0.36%             | 2027-07-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1044934.28   | 0.18%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                      | Constellium SE                                                                      | CUSIP: 21039CAA2<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $225373.70    | 0.04%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                   | Post Holdings Inc                                                                   | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12425.00     | 0.00%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                  | Dominican Republic International Bond                                               | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    339000 | PA      | $283976.06    | 0.05%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                            | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                  | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              |  | US        |     85000 | PA      | $72550.90     | 0.01%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MASONITE INTERNATIONAL C                            | Masonite International Corp                                                         | CUSIP: 575385AD1<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |    161000 | PA      | $157377.50    | 0.03%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN BRAND INTELLECT                            | Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd                | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    317000 | PA      | $308152.53    | 0.05%             | 2026-01-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                            | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV              | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    600000 | PA      | $573120.66    | 0.10%             | 2027-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                     | SWAP/CDSWAP/ICE: (CDX.NA.HY.38.V1)                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   5697450 | OU      | $-97154.07    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc.                                 | Galaxy US Opco Inc. Term Loan                                                       | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    263000 | PA      | $247548.75    | 0.04%             | 2029-04-29      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    711000 | PA      | $696388.95    | 0.12%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| NOVELIS SHEET INGOT GMBH                            | Novelis Sheet Ingot GmbH                                                            | CUSIP: 000000000<br>LEI: 9845005E95899E77AY49 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $171254.65    | 0.03%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FHLMC 30YR UMBS MIRROR                                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -140025 | PA      | $-140025.02   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                             | Sasol Financing USA LLC                                                             | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    320000 | PA      | $260860.00    | 0.05%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | Citigroup Inc                                                                       | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1828100.00   | 0.32%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                | Bank of America Corp                                                                | CUSIP: 060505EN0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2865000 | PA      | $2896880.86   | 0.50%             | 2025-03-17      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                                      | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     60125 | NS      | $1544010.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP BILLITON FIN USA LTD                            | BHP Billiton Finance USA Ltd                                                        | CUSIP: 055451AR9<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $241354.47    | 0.04%             | 2042-02-24      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                          | Carvana Co                                                                          | CUSIP: 146869AJ1<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    213000 | PA      | $175126.47    | 0.03%             | 2030-05-01      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     91000 | PA      | $78283.21     | 0.01%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-OA18                                                    | CUSIP: 23244GAD4<br>LEI: 5493004SLAYUFMHIS127 | Long             | ABS-MBS          | CORP              | US        |   1800688 | PA      | $1593513.46   | 0.28%             | 2046-12-25      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | Uber Technologies Inc                                                               | CUSIP: 90353TAJ9<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   2019000 | PA      | $1676606.86   | 0.29%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                               | GFL Environmental Inc                                                               | CUSIP: 36168QAM6<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    259000 | PA      | $234395.00    | 0.04%             | 2028-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                        | Entegris Inc                                                                        | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    142000 | PA      | $125993.67    | 0.02%             | 2029-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                    | COLT 2022-5 Mortgage Loan Trust                                                     | CUSIP: 19688LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1524119 | PA      | $1491770.67   | 0.26%             | 2067-04-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                              | UnitedHealth Group Inc                                                              | CUSIP: 91324PBW1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    750000 | PA      | $746585.12    | 0.13%             | 2042-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                             | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                     | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1011350.00   | 0.17%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                             | Royal Caribbean Cruises Ltd                                                         | CUSIP: 780153AY8<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    114000 | PA      | $116563.29    | 0.02%             | 2023-06-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74000 | PA      | $71410.00     | 0.01%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Corp.                       | Frontier Communications Corp. 2021 DIP Term Loan B                                  | CUSIP: 35906EAQ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    254572 | PA      | $242288.44    | 0.04%             | 2028-05-01      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| METIS MERGER SUB LLC                                | Metis Merger Sub LLC                                                                | CUSIP: 59155LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    273000 | PA      | $232208.86    | 0.04%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                                | Dycom Industries Inc                                                                | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |    130000 | PA      | $119250.30    | 0.02%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP GENESIS ENERGY LP/ GENESIS ENE                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |    -39816 | PA      | $-39816.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (CMACG)                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     16679 | OU      | $-126.99      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                               | Molina Healthcare Inc                                                               | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    341000 | PA      | $313303.98    | 0.05%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ziggo Bond Co BV                                    | Ziggo Bond Co BV                                                                    | CUSIP: 98954UAB9<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    638000 | PA      | $614298.30    | 0.11%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIVO ENERGY INVESTMENTS                             | Vivo Energy Investments BV                                                          | CUSIP: 92856HAB0<br>LEI: 724500P3OXMB2IERLM56 | Long             | DBT              | CORP              | NL        |    349000 | PA      | $327187.50    | 0.06%             | 2027-09-24      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP DISH DBS CORP                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1034656 | PA      | $-1034656.25  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                 | Petroleos Mexicanos                                                                 | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     66000 | PA      | $47850.00     | 0.01%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                            | SLM Corp                                                                            | CUSIP: 78442PGE0<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | DBT              | CORP              | US        |    221000 | PA      | $193728.60    | 0.03%             | 2026-11-02      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                            | MSCI Inc                                                                            | CUSIP: 55354GAQ3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    233000 | PA      | $201854.72    | 0.03%             | 2033-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                 | Avantor Funding Inc                                                                 | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1333367.20   | 0.23%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING                            | NextEra Energy Operating Partners LP                                                | CUSIP: 65342QAC6<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10752.50     | 0.00%             | 2024-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Post Holdings Inc                                   | Post Holdings Inc                                                                   | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41895.00     | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust              | Residential Asset Securitization Trust 2006-A8                                      | CUSIP: 761119AK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6341439 | PA      | $1154328.90   | 0.20%             | 2036-08-25      | Floating      | 2.86%                 | No            |                  2 | On Loan: No      |
| Inkia Energy Ltd                                    | Inkia Energy Ltd                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    251000 | PA      | $229241.44    | 0.04%             | 2027-11-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                                 | Prestige Brands Inc                                                                 | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    190000 | PA      | $163400.00    | 0.03%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                   | Iliad Holding SASU                                                                  | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    622000 | PA      | $597026.70    | 0.10%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP RIO TINTO FINANCE (USA) PLC                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -390000 | PA      | $-390000.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                              | Axalta Coating Systems LLC                                                          | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |    745000 | PA      | $649542.28    | 0.11%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                          | Air Canada                                                                          | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    401000 | PA      | $368920.00    | 0.06%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | FSWP: OIS 2.862320 30-NOV-2026                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  13295000 | OU      | $-192754.77   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                   | HSBC Holdings PLC                                                                   | CUSIP: 404280CQ0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    465000 | PA      | $371281.51    | 0.06%             | 2031-03-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                      | CarVal CLO III Ltd                                                                  | CUSIP: 14686VAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $445474.55    | 0.08%             | 2032-07-20      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ALLIANT HOLDINGS INTERMEDIATE                                                   | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1170240 | PA      | $-1170240.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                   | Clean Harbors Inc                                                                   | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    297000 | PA      | $294876.45    | 0.05%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                               | Trivium Packaging Finance BV                                                        | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1924000 | PA      | $1837161.65   | 0.32%             | 2027-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SPECIALTY BUILDING PRODU                            | Specialty Building Products Holdings LLC / SBP Finance Corp                         | CUSIP: 84749AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    329000 | PA      | $292810.00    | 0.05%             | 2026-09-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP TRANSURBAN FINANCE COMPANY PTY                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -494000 | PA      | $-494000.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1082000 | PA      | $1200365.39   | 0.21%             | 2030-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                        | Enbridge Inc                                                                        | CUSIP: 29250NAW5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1865000 | PA      | $1769572.00   | 0.31%             | 2078-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                             | DCP Midstream Operating LP                                                          | CUSIP: 23311VAH0<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32312.12     | 0.01%             | 2029-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                               | eG Global Finance PLC                                                               | CUSIP: 28228PAB7<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    299000 | PA      | $292798.74    | 0.05%             | 2025-10-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                          | AbbVie Inc                                                                          | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955282.82    | 0.16%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                                 | Callon Petroleum Co                                                                 | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    703000 | PA      | $674240.27    | 0.12%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                              | Harvest Midstream I LP                                                              | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     78000 | PA      | $74514.96     | 0.01%             | 2028-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                             | United Airlines 2020-1 Class B Pass Through Trust                                   | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     47760 | PA      | $45337.33     | 0.01%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| IMPULSORA PIPELINE                                  | IMPULSORA PIPELINE                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1545642 | PA      | $1406691.69   | 0.24%             | 2042-12-31      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                     | AdaptHealth LLC                                                                     | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $31186.16     | 0.01%             | 2030-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FHLMC 30YR UMBS MIRROR                                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -172902 | PA      | $-172902.05   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP HUSKY III HOLDING LIMITED                                                       | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -473269 | PA      | $-473268.75   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                            | Banco Mercantil del Norte SA/Grand Cayman                                           | CUSIP: 05971PAA6<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    292000 | PA      | $274899.75    | 0.05%             | 2024-09-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                    | CIFC Funding 2020-I Ltd                                                             | CUSIP: 12555QAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $466885.45    | 0.08%             | 2036-07-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $96190.21     | 0.02%             | 2027-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC                               | Scripps Escrow II Inc                                                               | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    114000 | PA      | $102272.82    | 0.02%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                | Commercial Metals Co                                                                | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     96000 | PA      | $82284.88     | 0.01%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    400000 | PA      | $366620.00    | 0.06%             | 2027-11-02      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                  | Vodafone Group PLC                                                                  | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $94161.23     | 0.02%             | 2080-08-27      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                             | Teva Pharmaceutical Finance Netherlands III BV                                      | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $203412.50    | 0.04%             | 2025-01-31      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| IAA Inc                                             | IAA Inc                                                                             | CUSIP: 449253AB9<br>LEI: 549300PZCOPC5178W747 | Long             | DBT              | CORP              | US        |    443000 | PA      | $442736.42    | 0.08%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140JL5Q3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    140942 | PA      | $144346.00    | 0.02%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KAIXO BONDCO TELECOM SA                             | Kaixo Bondco Telecom SA                                                             | CUSIP: 000000000<br>LEI: 959800ULWB3MZHZ69055 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $88224.35     | 0.02%             | 2029-09-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Brand Energy & Infrastructure Services, Inc.        | Brand Energy & Infrastructure Services, Inc. 2017 Term Loan                         | CUSIP: 10524MAN7<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |   2589518 | PA      | $2359205.90   | 0.41%             | 2024-06-21      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                            | AT&T Inc                                                                            | CUSIP: 00206RCQ3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2545000 | PA      | $2473621.96   | 0.43%             | 2046-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                      | ARD Finance SA                                                                      | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    864552 | PA      | $654275.66    | 0.11%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                           | Uniform Mortgage-Backed Security, TBA                                               | CUSIP: 01F042699<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     58000 | PA      | $58895.65     | 0.01%             | 2052-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP NEW FORTRESS ENERGY INC                                                         | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -810405 | PA      | $-810405.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                               | Northrop Grumman Corp                                                               | CUSIP: 666807BJ0<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    530000 | PA      | $472293.81    | 0.08%             | 2045-04-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                             | Fantasia Holdings Group Co Ltd                                                      | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $30000.00     | 0.01%             | 2023-07-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HILTON WORLDWIDE FIN LLC                            | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp                        | CUSIP: 432891AK5<br>LEI: 549300406TN7EY0NPH20 | Long             | DBT              | CORP              | US        |    246000 | PA      | $241695.00    | 0.04%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                               | Guatemala Government Bond                                                           | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    236000 | PA      | $196145.50    | 0.03%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc.                              | SS&C Technologies Inc. 2018 Term Loan B3                                            | CUSIP: 78466DBD5<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |     96930 | PA      | $94552.20     | 0.02%             | 2025-04-16      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CCO HOLDINGS LLC                                                                | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -632790 | PA      | $-632790.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                 | Altice Financing SA                                                                 | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    462000 | PA      | $406892.64    | 0.07%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                 | Charles Schwab Corp/The                                                             | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $897025.00    | 0.15%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP SYNEOS HEALTH INC                                                               | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -494000 | PA      | $-494000.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CALLON PETROLEUM COMPANY                                                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -654939 | PA      | $-654938.75   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                    | COLT 2020-2 Mortgage Loan Trust                                                     | CUSIP: 19688JAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2550000 | PA      | $2504540.39   | 0.43%             | 2065-03-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                             | DCP Midstream Operating LP                                                          | CUSIP: 26439XAH6<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    182000 | PA      | $181545.00    | 0.03%             | 2036-11-03      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP NORTHWELL HEALTHCARE INC                                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -537652 | PA      | $-537652.50   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Guatemala                               | Guatemala Government Bond                                                           | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $196350.00    | 0.03%             | 2026-05-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LA FINAC ATALIAN SA                                 | La Financiere Atalian SASU                                                          | CUSIP: 000000000<br>LEI: 969500ICOLJMB33J0L87 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $98726.93     | 0.02%             | 2025-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                     | Sabre GLBL Inc. 2021 Term Loan B1                                                   | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     84407 | PA      | $80460.94     | 0.01%             | 2027-12-17      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Aptiv PLC                                           | Aptiv PLC                                                                           | CUSIP: 03835VAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    280000 | PA      | $229178.41    | 0.04%             | 2046-10-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP NGPL PIPECO LLC                                                                 | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -241312 | PA      | $-241312.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP PETROLEOS MEXICANOS                                                             | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -438421 | PA      | $-438421.31   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                            | CQP Holdco LP / BIP-V Chinook Holdco LLC                                            | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1969000 | PA      | $1866040.99   | 0.32%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sotheby's                                           | Sotheby's 2021 Term Loan B                                                          | CUSIP: 08883CAE8<br>LEI: 549300P5BAAMQQ7VL735 | Long             | LON              | CORP              | US        |    220945 | PA      | $213211.68    | 0.04%             | 2027-01-15      | Floating      | 7.01%                 | No            |                  3 | On Loan: No      |
| VOLKSWAGEN INTL FIN NV                              | Volkswagen International Finance NV                                                 | CUSIP: 000000000<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $89809.55     | 0.02%             | 2031-03-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140QBHS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2473220 | PA      | $2560222.80   | 0.44%             | 2049-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUMA INTERNATIONAL FINAN                            | Puma International Financing SA                                                     | CUSIP: 000000000<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |    483000 | PA      | $435907.50    | 0.08%             | 2024-10-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                             | Fremont Home Loan Trust 2006-D                                                      | CUSIP: 35729VAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6438659 | PA      | $2504969.26   | 0.43%             | 2036-11-25      | Floating      | 2.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140J57G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1245956 | PA      | $1273606.85   | 0.22%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                              | Berkshire Hathaway Finance Corp                                                     | CUSIP: 084664BU4<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248528.37    | 0.04%             | 2042-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                | Bank of America Corp                                                                | CUSIP: 060505EH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5535000 | PA      | $5574648.98   | 0.96%             | 2024-09-05      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ARDAGH METAL PACKAGING FINANCE                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -961755 | PA      | $-961755.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    846000 | PA      | $888316.92    | 0.15%             | 2026-02-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                            | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp                  | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     59000 | PA      | $53750.18     | 0.01%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                | Paraguay Government International Bond                                              | CUSIP: 699149AJ9<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $197600.00    | 0.03%             | 2031-04-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                              | CHL Mortgage Pass-Through Trust 2007-J2                                             | CUSIP: 12545EAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1474725 | PA      | $686335.90    | 0.12%             | 2037-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TransDigm Inc                                                                       | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    382000 | PA      | $341794.50    | 0.06%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP PERU (REPUBLIC OF)                                                              | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -187274 | PA      | $-187273.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| APACHE CORP                                         | Apache Corp                                                                         | CUSIP: 037411BG9<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |     83000 | PA      | $69280.10     | 0.01%             | 2049-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CSC HOLDINGS LLC                                                                | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -272630 | PA      | $-272630.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| NCR CORP                                            | NCR Corp                                                                            | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    197000 | PA      | $189134.78    | 0.03%             | 2029-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 31418DWR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8443791 | PA      | $7614693.73   | 1.31%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | SCDS: (CMACG)                                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |      3202 | OU      | $-24.38       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Paraguay                                | Paraguay Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    210000 | PA      | $179195.63    | 0.03%             | 2048-03-13      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS INC                            | Northern Oil and Gas Inc                                                            | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   1054000 | PA      | $1019745.00   | 0.18%             | 2028-03-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Chamberlain Group Inc                               | Chamberlain Group Inc Term Loan B                                                   | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    442842 | PA      | $411475.50    | 0.07%             | 2028-11-03      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Starwood Residential Mortgage Trust                 | STAR 2021-1 Trust                                                                   | CUSIP: 85573GAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1637334.13   | 0.28%             | 2065-05-25      | Variable      | 2.36%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP SHIMAO GROUP HOLDINGS LTD                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |    -10000 | PA      | $-10000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ball Corp                                           | Ball Corp                                                                           | CUSIP: 058498AT3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     44000 | PA      | $44528.00     | 0.01%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Springs Windows Fashions, LLC                       | Springs Windows Fashions, LLC 2021 Term Loan B                                      | CUSIP: 78489HAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    535658 | PA      | $446604.44    | 0.08%             | 2028-10-06      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                               | Icahn Enterprises LP / Icahn Enterprises Finance Corp                               | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $340164.09    | 0.06%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                            | Outfront Media Capital LLC / Outfront Media Capital Corp                            | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    501000 | PA      | $473279.67    | 0.08%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP RITCHIE BROS AUCTIONEERS INC                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -125208 | PA      | $-125207.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                    | Allied Universal Holdco LLC / Allied Universal Finance Corp                         | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1272281.25   | 0.22%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                               | Nabors Industries Inc                                                               | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    423000 | PA      | $418770.00    | 0.07%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP LIVE NATION ENTERTAINMENT INC                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1542004 | PA      | $-1542003.75  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| Fertitta Entertainment, LLC                         | Fertitta Entertainment, LLC 2022 Term Loan B                                        | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    511009 | PA      | $486291.38    | 0.08%             | 2029-01-27      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                 | White Cap Buyer LLC Term Loan B                                                     | CUSIP: 96350TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    429130 | PA      | $409192.59    | 0.07%             | 2027-10-19      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP UNITED AIRLINES INC                                                             | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -447615 | PA      | $-447615.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                            | Graphic Packaging International LLC                                                 | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20322.61     | 0.00%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC               | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    756000 | PA      | $702550.80    | 0.12%             | 2026-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                            | Banco Mercantil del Norte SA/Grand Cayman                                           | CUSIP: 05973KAA5<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    205000 | PA      | $170252.50    | 0.03%             | 2027-01-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LABL INC                                            | LABL Inc                                                                            | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    332000 | PA      | $303365.00    | 0.05%             | 2028-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP MSCI INC                                                                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -266475 | PA      | $-266475.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| NFP CORP                                            | NFP Corp                                                                            | CUSIP: 65342RAE0<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |   1027000 | PA      | $934907.82    | 0.16%             | 2028-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mattel Inc                                          | Mattel Inc                                                                          | CUSIP: 577081AU6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    291000 | PA      | $285180.00    | 0.05%             | 2040-10-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| TWITTER INC                                         | Twitter Inc                                                                         | CUSIP: 90184LAP7<br>LEI: 549300I8RX485XMK6836 | Long             | DBT              | CORP              | US        |    233000 | PA      | $224906.58    | 0.04%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROLLER BEARING CO OF AME                            | Roller Bearing Co of America Inc                                                    | CUSIP: 775631AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $140514.74    | 0.02%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP UNITED STATES STEEL CORP                                                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -352590 | PA      | $-352590.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                       | HTA Group Ltd/Mauritius                                                             | CUSIP: 40435WAB6<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    431000 | PA      | $382728.00    | 0.07%             | 2025-12-18      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Peraton Corp.                                       | Peraton Corp. Term Loan B                                                           | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1185212 | PA      | $1150402.01   | 0.20%             | 2028-02-01      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                            | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                              | CUSIP: 000000000<br>LEI: 549300SO59UL53O4D221 | Long             | DBT              | CORP              | XX        |    100000 | PA      | $90900.59     | 0.02%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                            | Catalent Pharma Solutions Inc                                                       | CUSIP: 14879EAH1<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    201000 | PA      | $178136.25    | 0.03%             | 2029-02-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| SWITCH LTD                                          | Switch Ltd                                                                          | CUSIP: 87105NAC4<br>LEI: 5493002D70VTFFLT8L43 | Long             | DBT              | CORP              | US        |    788000 | PA      | $797400.84    | 0.14%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                             | Global Net Lease Inc / Global Net Lease Operating Partnership LP                    | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    183000 | PA      | $160445.92    | 0.03%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP HSBC HOLDINGS PLC                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -173362 | PA      | $-173362.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                  | CNX Resources Corp                                                                  | CUSIP: 12653CAG3<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    637000 | PA      | $963462.50    | 0.17%             | 2026-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP UNITI GROUP LP                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -403048 | PA      | $-403047.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                  | SWAP/CDSWAP/CDS: (CMBX.NA.9.BBB-)                                                   | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | US        |    972000 | OU      | $-159181.58   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                            | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp                  | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $90531.20     | 0.02%             | 2026-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                                 | Jazz Securities DAC                                                                 | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    706000 | PA      | $679772.10    | 0.12%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| P&L DEV LLC/PLD FIN CORP                            | P&L Development LLC / PLD Finance Corp                                              | CUSIP: 69306RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    339000 | PA      | $227130.00    | 0.04%             | 2025-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CHOBANI LLC                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |    -27100 | PA      | $-27100.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VTR COMUNICACIONES SPA                              | VTR Comunicaciones SpA                                                              | CUSIP: 918367AC7<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |    290000 | PA      | $179800.00    | 0.03%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ZAYO GROUP HOLDINGS INC                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1207342 | PA      | $-1207342.50  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| CENTENNIAL RESOURCE PROD                            | Centennial Resource Production LLC                                                  | CUSIP: 15138AAC4<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     59000 | PA      | $56240.47     | 0.01%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CCO HOLDINGS LLC                                                                | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |    -56888 | PA      | $-56887.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                  | Energy Transfer LP                                                                  | CUSIP: 29273RBL2<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    350000 | PA      | $314556.93    | 0.05%             | 2047-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AZUL INVESTMENTS LLP                                | Azul Investments LLP                                                                | CUSIP: 000000000<br>LEI: 549300C6XNC8IDH04C74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $134000.00    | 0.02%             | 2024-10-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CROWNROCK LP / CROWNROCK FINAN                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1207500 | PA      | $-1207500.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP UBER TECHNOLOGIES INC                                                           | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -736189 | PA      | $-736188.75   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP FRONTIER COMMUNICATIONS CORP                                                    | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -320242 | PA      | $-320242.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ViaSat, Inc.                                        | ViaSat, Inc. Term Loan                                                              | CUSIP: 92555WAD7<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |    309622 | PA      | $287561.43    | 0.05%             | 2029-03-02      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| GMR HYDERABAD INTERNATIO                            | GMR Hyderabad International Airport Ltd                                             | CUSIP: 000000000<br>LEI: 335800NSPGIN89SVOU83 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $165600.00    | 0.03%             | 2027-10-27      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP SIRIUS XM R                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -107030 | PA      | $-107030.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                              | Egypt Government International Bond                                                 | CUSIP: 03846JAC4<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $112000.00    | 0.02%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 15YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -744734 | PA      | $-744734.23   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP JPMORGAN CHASE & CO                                                             | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -781562 | PA      | $-781562.50   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                              | Mexico City Airport Trust                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    308000 | PA      | $234293.88    | 0.04%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MEDCO BELL PTE LTD                                  | Medco Bell Pte Ltd                                                                  | CUSIP: 000000000<br>LEI: 2549003PNDCWIWGKC768 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $222187.50    | 0.04%             | 2027-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    648000 | PA      | $560241.36    | 0.10%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | Sirius XM Radio Inc                                                                 | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    571000 | PA      | $496770.00    | 0.09%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP AETHON UNITED BR LP                                                             | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -750622 | PA      | $-750622.50   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| Constellium SE                                      | Constellium SE                                                                      | CUSIP: 210383AG0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |   1193000 | PA      | $1157919.68   | 0.20%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                            | CrownRock LP / CrownRock Finance Inc                                                | CUSIP: 228701AF5<br>LEI: WFBCP6PB6JZR80B7U482 | Long             | DBT              | CORP              | US        |   1403000 | PA      | $1400923.56   | 0.24%             | 2025-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1581772 | PA      | $-1581772.50  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| API ESCROW CORP                                     | APi Escrow Corp                                                                     | CUSIP: 00185PAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $107840.00    | 0.02%             | 2029-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                   | Generate CLO 2 Ltd                                                                  | CUSIP: 98625RAE9<br>LEI: 5493009C48K5WG4EX118 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $214761.80    | 0.04%             | 2031-01-22      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                  | CDS: (CMBX.NA.9.BBB-)                                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | US        |   5000000 | OU      | $-818835.29   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                             | Asbury Automotive Group Inc                                                         | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    201000 | PA      | $175542.35    | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENBOURNE INVEST SA                                 | Kenbourne Invest SA                                                                 | CUSIP: 48855KAA8<br>LEI: 222100QGH6Y9KFYZ4B27 | Long             | DBT              | CORP              | LU        |    329000 | PA      | $306031.69    | 0.05%             | 2024-11-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TICP CLO Ltd                                        | TICP CLO VII Ltd                                                                    | CUSIP: 87248UAD4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $226591.45    | 0.04%             | 2033-04-15      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TransDigm Inc                                                                       | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    715000 | PA      | $643500.00    | 0.11%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SOPHIA, L.P.                                        | Sophia, L.P. 2021 Term Loan B                                                       | CUSIP: 83578BAN3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    829396 | PA      | $797049.75    | 0.14%             | 2027-10-07      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                            | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp                  | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148000 | PA      | $119510.00    | 0.02%             | 2029-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                        | Calpine Corp                                                                        | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1281000 | PA      | $1204908.60   | 0.21%             | 2028-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| GRAFTECH FINANCE INC                                | GrafTech Finance Inc                                                                | CUSIP: 384311AA4<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | DBT              | CORP              | US        |    176000 | PA      | $152842.43    | 0.03%             | 2028-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ZIGGO BOND COMPANY BV                                                           | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -221619 | PA      | $-221618.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                   | Iron Mountain Inc                                                                   | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    183000 | PA      | $171201.99    | 0.03%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                             | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                        | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    168000 | PA      | $151368.00    | 0.03%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EARTHSTONE ENERGY HOL                               | Earthstone Energy Holdings LLC                                                      | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |    373000 | PA      | $356330.63    | 0.06%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                   | NatWest Group PLC                                                                   | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1185000 | PA      | $1156121.55   | 0.20%             | 2025-12-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BWAY Holding Company                                | BWAY Holding Company 2017 Term Loan B                                               | CUSIP: 05604XAP1<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |    387355 | PA      | $369842.65    | 0.06%             | 2024-04-03      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| TWITTER INC                                         | Twitter Inc                                                                         | CUSIP: 90184LAG7<br>LEI: 549300I8RX485XMK6836 | Long             | DBT              | CORP              | US        |    377000 | PA      | $358715.50    | 0.06%             | 2027-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FORTUNE STAR BVI LTD                                | Fortune Star BVI Ltd                                                                | CUSIP: 000000000<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $159000.00    | 0.03%             | 2023-07-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                | Country Garden Holdings Co Ltd                                                      | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $83000.00     | 0.01%             | 2024-04-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                            | MSCI Inc                                                                            | CUSIP: 55354GAM2<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    164000 | PA      | $145996.77    | 0.03%             | 2031-11-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | EnLink Midstream Partners LP                                                        | CUSIP: 29336UAG2<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |     78000 | PA      | $59442.57     | 0.01%             | 2047-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | OneMain Finance Corp                                                                | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    285000 | PA      | $267224.55    | 0.05%             | 2028-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP FORD MOTOR CREDIT COMPANY LLC                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -954688 | PA      | $-954687.50   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| KANE BIDCO LTD                                      | Kane Bidco Ltd                                                                      | CUSIP: 000000000<br>LEI: 213800IT8MD1MLYZWC24 | Long             | DBT              | CORP              | JE        |    100000 | PA      | $107318.61    | 0.02%             | 2027-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | Open Text Corp                                                                      | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    339000 | PA      | $305149.16    | 0.05%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TransDigm Inc                                                                       | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    134000 | PA      | $136186.21    | 0.02%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US 5YR NOTE (CBT) SEP22                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -976 | NC      | $-1501217.20  | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| BCP MODULAR SERVICES                                | BCP V Modular Services Finance II PLC                                               | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $85085.64     | 0.01%             | 2028-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | SWP: USD 1.919500 27-OCT-2051                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   1420000 | OU      | $-242524.49   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                  | Ukraine Government International Bond                                               | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    224000 | PA      | $42560.00     | 0.01%             | 2024-02-01      | Fixed         | 8.99%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                              | Clydesdale Acquisition Holdings Inc                                                 | CUSIP: 18972EAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    483000 | PA      | $460670.91    | 0.08%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Sprint Corp                                         | Sprint Corp                                                                         | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    748000 | PA      | $815408.79    | 0.14%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| GARFUNKELUX HOLDCO 3 SA                             | Garfunkelux Holdco 3 SA                                                             | CUSIP: 000000000<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $105583.25    | 0.02%             | 2025-11-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KKR Apple Bidco, LLC                                | KKR Apple Bidco, LLC 2021 Term Loan                                                 | CUSIP: 48254EAB7<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |    144021 | PA      | $138404.32    | 0.02%             | 2028-09-23      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                            | Hilcorp Energy I LP / Hilcorp Finance Co                                            | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33000 | PA      | $30112.50     | 0.01%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | CDS: (CMBX.NA.7.BBB-)                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |  10000000 | OU      | $-1915846.40  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| GREENKO MAURITIUS LTD                               | Greenko Mauritius Ltd                                                               | CUSIP: 000000000<br>LEI: 2138005EDWGI4914B264 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $197787.50    | 0.03%             | 2023-02-21      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC                  | RRP MICROSTRATE                                                                     | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -101640 | PA      | $-101640.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                    | Vmed O2 UK Financing I PLC                                                          | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $106538.00    | 0.02%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Meritage Homes Corp                                 | Meritage Homes Corp                                                                 | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     57000 | PA      | $55710.13     | 0.01%             | 2027-06-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CHROME BIDCO SASU                                   | Chrome Bidco SASU                                                                   | CUSIP: 000000000<br>LEI: 9845000C1FYE89DC8677 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $90647.02     | 0.02%             | 2028-05-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                 | Sprint Capital Corp                                                                 | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1327375.00   | 0.23%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140QGSN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2020921 | PA      | $2038679.40   | 0.35%             | 2051-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                    | DT Midstream Inc                                                                    | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    521000 | PA      | $482320.96    | 0.08%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                             | DCP Midstream Operating LP                                                          | CUSIP: 23311VAF4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6057.58      | 0.00%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ABBVIE INC                                                                      | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -906250 | PA      | $-906250.00   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                 | NCL Corp Ltd                                                                        | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    324000 | PA      | $264244.68    | 0.05%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                             | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC                          | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              |  | US        |    339000 | PA      | $298360.45    | 0.05%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EnLink Midstream LLC                                | EnLink Midstream LLC                                                                | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    526000 | PA      | $499479.08    | 0.09%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHONG HING BANK LTD                                 | Chong Hing Bank Ltd                                                                 | CUSIP: 000000000<br>LEI: 549300UE27D3HDTZET39 | Long             | DBT              | CORP              | HK        |    250000 | PA      | $239109.38    | 0.04%             | 2024-07-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP NEXTERA ENERGY CAPITAL HOLDING                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |  -1125000 | PA      | $-1125000.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (LADLN)                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     10000 | OU      | $-1414.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SS&C TECHNOLOGIES INC                                                           | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1137645 | PA      | $-1137645.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP SAUDI ARABIA (KINGDOM OF)                                                       | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -366072 | PA      | $-366072.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Credit-Based Asset Servicing and Securitization     | C-BASS 2006-CB7 TRUST                                                               | CUSIP: 12479DAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4442308 | PA      | $3090705.86   | 0.53%             | 2036-10-25      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                | Taylor Morrison Communities Inc                                                     | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    287000 | PA      | $293098.75    | 0.05%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140QBG93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4125768 | PA      | $4225845.58   | 0.73%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                             | Aethon United BR LP / Aethon United Finance Corp                                    | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1057000 | PA      | $1092462.35   | 0.19%             | 2026-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                    | MGM Resorts International                                                           | CUSIP: 552953CE9<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34583.50     | 0.01%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                            | Advanced Drainage Systems Inc                                                       | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    636000 | PA      | $640874.92    | 0.11%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GRUENENTHAL GMBH                                    | Gruenenthal GmbH                                                                    | CUSIP: 000000000<br>LEI: 529900SH895E31PGLA72 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $92236.31     | 0.02%             | 2028-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Spirit Aerosystems, Inc.                            | Spirit Aerosystems, Inc. 2021 Term Loan B                                           | CUSIP: 84857HAX8<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | LON              | CORP              | US        |    255293 | PA      | $249932.16    | 0.04%             | 2025-01-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                             | Big River Steel LLC / BRS Finance Corp                                              | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1363000 | PA      | $1395964.16   | 0.24%             | 2029-01-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CONSTELLIUM SE (FRANCE)                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1196738 | PA      | $-1196737.50  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP AVIS BUDGET                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |    -33188 | PA      | $-33187.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                            | Ascent Resources Utica Holdings LLC / ARU Finance Corp                              | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    131000 | PA      | $115078.26    | 0.02%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                 | Sherwin-Williams Co/The                                                             | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    310000 | PA      | $286876.69    | 0.05%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHAMPION PATH HOLDINGS                              | Champion Path Holdings Ltd                                                          | CUSIP: 000000000<br>LEI: 549300QWJFPV5413KI88 | Long             | DBT              | CORP              | VG        |    250000 | PA      | $160000.00    | 0.03%             | 2026-01-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS Corp                                                                       | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1143000 | PA      | $927258.75    | 0.16%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILLUMINATE BUYER/HLDG                               | Illuminate Buyer LLC / Illuminate Holdings IV Inc                                   | CUSIP: 45232TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    443000 | PA      | $351343.30    | 0.06%             | 2028-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| COLGATE ENERGY PARTNERS                             | Colgate Energy Partners III LLC                                                     | CUSIP: 19416MAA7<br>LEI: 549300QRLZK0B17DH791 | Long             | DBT              | CORP              | US        |    584000 | PA      | $572953.64    | 0.10%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| I-Logic Technologies Bidco Limited                  | I-Logic Technologies Bidco Limited 2021 USD Term Loan B                             | CUSIP: 00510DAB0<br>LEI: 213800PHEXJH1L7ZN896 | Long             | LON              | CORP              | US        |    124583 | PA      | $121095.00    | 0.02%             | 2028-02-16      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Argent Securities Inc.                              | Argent Securities Trust 2006-W5                                                     | CUSIP: 04012XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4349556 | PA      | $2966714.53   | 0.51%             | 2036-06-25      | Floating      | 2.56%                 | No            |                  2 | On Loan: No      |
| ATI INC                                             | ATI Inc                                                                             | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    350000 | PA      | $287240.44    | 0.05%             | 2031-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                    | Duke Energy Corp                                                                    | CUSIP: 26441CAP0<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1459612.26   | 0.25%             | 2045-12-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    860000 | PA      | $880766.51    | 0.15%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                 | Medline Borrower LP                                                                 | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    575000 | PA      | $519656.25    | 0.09%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WABASH NATIONAL CORP                                | Wabash National Corp                                                                | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |    281000 | PA      | $231305.15    | 0.04%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TEMPUR SEALY INTL INC                               | Tempur Sealy International Inc                                                      | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    308000 | PA      | $249544.68    | 0.04%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 31 LTD                  | Octagon Investment Partners 31 LLC                                                  | CUSIP: 67576CAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $442759.35    | 0.08%             | 2030-07-20      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                           | Amgen Inc                                                                           | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    250000 | PA      | $198210.75    | 0.03%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP HSBC HOLDINGS PLC                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -342356 | PA      | $-342356.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-OA14                                                    | CUSIP: 02146SAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4572878 | PA      | $3907396.80   | 0.67%             | 2046-11-25      | Floating      | 1.49%                 | No            |                  2 | On Loan: No      |
| CDI ESCROW ISSUER INC                               | CDI Escrow Issuer Inc                                                               | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1246000 | PA      | $1218039.76   | 0.21%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (ADLERR)                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     10000 | OU      | $-2570.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NuStar Logistics LP                                 | NuStar Logistics LP                                                                 | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    234000 | PA      | $230024.34    | 0.04%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                       | ModivCare Inc                                                                       | CUSIP: 743815AE2<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | DBT              | CORP              | US        |     91000 | PA      | $88776.44     | 0.02%             | 2025-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                            | Comision Federal de Electricidad                                                    | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    323000 | PA      | $322192.50    | 0.06%             | 2024-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                        | Broadcom Inc                                                                        | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    688000 | PA      | $673969.07    | 0.12%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                            | MSCI Inc                                                                            | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    197000 | PA      | $179861.00    | 0.03%             | 2030-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -806760 | PA      | $-806760.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    402000 | PA      | $309475.68    | 0.05%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                            | EQM Midstream Partners LP                                                           | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    108000 | PA      | $111145.50    | 0.02%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc                               | Reynolds American Inc                                                               | CUSIP: 761713BB1<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    715000 | PA      | $629334.31    | 0.11%             | 2045-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| METINVEST BV                                        | Metinvest BV                                                                        | CUSIP: 000000000<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $78162.50     | 0.01%             | 2027-10-01      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                 | Petroleos Mexicanos                                                                 | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    538000 | PA      | $486029.20    | 0.08%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                 | Petroleos Mexicanos                                                                 | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    285000 | PA      | $227216.25    | 0.04%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES LTD                               | Nabors Industries Ltd                                                               | CUSIP: 629571AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    109000 | PA      | $98917.50     | 0.02%             | 2026-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Ascent Resources - Utica                            | Ascent Resources - Utica 2020 Fixed 2nd Lien Term Loan                              | CUSIP: 000000000<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | LON              | CORP              | US        |   2933742 | PA      | $3091430.36   | 0.53%             | 2025-11-01      | Floating      | 11.46%                | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                             | United Rentals North America Inc                                                    | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    170000 | PA      | $171865.75    | 0.03%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| REALOGY GROUP/CO-ISSUER                             | Realogy Group LLC / Realogy Co-Issuer Corp                                          | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $306240.00    | 0.05%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                          | Viasat Inc                                                                          | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    360000 | PA      | $267840.00    | 0.05%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                                | EnLink Midstream LLC                                                                | CUSIP: 29336TAC4<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $436797.19    | 0.08%             | 2028-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| COTY INC                                            | Coty Inc                                                                            | CUSIP: 000000000<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97836.73     | 0.02%             | 2026-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                            | Prime Security Services Borrower LLC / Prime Finance Inc                            | CUSIP: 74166MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178000 | PA      | $177777.50    | 0.03%             | 2024-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS SUPER                                                            | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1790807 | PA      | $-1790807.16  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                 | Avantor Funding Inc                                                                 | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    252000 | PA      | $231971.04    | 0.04%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Gulf Stream Meridian 1 Ltd.                         | Gulf Stream Meridian 1 Ltd                                                          | CUSIP: 402564AA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $449186.00    | 0.08%             | 2033-04-15      | Floating      | 8.96%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SPRINT CORP                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -659175 | PA      | $-659175.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP WELLS FARGO                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -7656000 | PA      | $-7656000.00  | -1.32%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP LEVEL 3 FINANCING INC                                                           | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -283610 | PA      | $-283610.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                            | PetSmart Inc / PetSmart Finance Corp                                                | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    436000 | PA      | $413755.28    | 0.07%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                        | Navient Corp                                                                        | CUSIP: 63938CAB4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     76000 | PA      | $74501.71     | 0.01%             | 2024-10-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP NEW GOLD INC                                                                    | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -605250 | PA      | $-605250.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC Holdings LLC                                                                    | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    855000 | PA      | $690438.15    | 0.12%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INDIA CLEANTECH ENERGY                              | India Cleantech Energy                                                              | CUSIP: 45410BAA2<br>LEI: 254900DGTS4HHR3Q6F66 | Long             | DBT              | CORP              | MU        |    243375 | PA      | $203218.13    | 0.04%             | 2026-08-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC                  | RRP MEXICO (UNITED MEXICAN STATES)                                                  | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -342760 | PA      | $-342760.04   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    376000 | PA      | $341690.00    | 0.06%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                            | iHeartCommunications Inc                                                            | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    213000 | PA      | $194724.60    | 0.03%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                             | PUG LLC USD Term Loan                                                               | CUSIP: 74530DAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    120816 | PA      | $111552.76    | 0.02%             | 2027-02-12      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                  | SWAP/CDSWAP/SCDS: (ADLERR)                                                          | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | XX        |     20000 | OU      | $-5080.82     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                            | Clear Channel Outdoor Holdings Inc                                                  | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1784902.60   | 0.31%             | 2027-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                           | IQVIA Inc                                                                           | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    517000 | PA      | $517834.96    | 0.09%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (COFP)                                                            | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     20000 | OU      | $-2219.89     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Epicor Software Corporation                         | Epicor Software Corporation 2020 2nd Lien Term Loan                                 | CUSIP: 29426NAQ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |    117000 | PA      | $115011.00    | 0.02%             | 2028-07-31      | Floating      | 10.12%                | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                        | Arconic Corp                                                                        | CUSIP: 03966VAA5<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    488000 | PA      | $487721.84    | 0.08%             | 2028-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DUN & BRADSTREET CORP                               | Dun & Bradstreet Corp/The                                                           | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |    642000 | PA      | $598421.04    | 0.10%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                             | Summer BC Holdco B SARL                                                             | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $94766.08     | 0.02%             | 2026-10-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CONTINUUM ENERGY LEVANTE                            | Continuum Energy Levanter Pte Ltd                                                   | CUSIP: 21218MAB1<br>LEI: 254900MFSMO37F3WJ232 | Long             | DBT              | CORP              | SG        |    197250 | PA      | $163717.50    | 0.03%             | 2027-02-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                              | Williams Cos Inc/The                                                                | CUSIP: 96950FAL8<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1763883.78   | 0.30%             | 2023-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                     | Fair Isaac Corp                                                                     | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    459000 | PA      | $428107.80    | 0.07%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KONINKLIJKE KPN NV                                  | Koninklijke KPN NV                                                                  | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $95205.56     | 0.02%             | 2024-11-08      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP NATWEST GROUP PLC                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -882825 | PA      | $-882825.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SPRINT CAPITAL CORPORATION                                                      | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1582420 | PA      | $-1582420.00  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| Northwell Healthcare Inc                            | Northwell Healthcare Inc                                                            | CUSIP: 667274AC8<br>LEI: 54930073NUTKK4QD3P47 | Long             | DBT              | CORP              | US        |    686000 | PA      | $619989.98    | 0.11%             | 2047-11-01      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                   | Iron Mountain Inc                                                                   | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    566000 | PA      | $530936.30    | 0.09%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                            | Neuberger Berman CLO XX Ltd                                                         | CUSIP: 64130UAN2<br>LEI: 549300NPF57YF6WBDP72 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $628788.78    | 0.11%             | 2034-07-15      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| CONDOR MERGER SUB INC                               | Condor Merger Sub Inc                                                               | CUSIP: 579063AB4<br>LEI: 254900SAGUYT3MBUU161 | Long             | DBT              | CORP              | US        |   1084000 | PA      | $951724.90    | 0.16%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                               | Scotts Miracle-Gro Co/The                                                           | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    220000 | PA      | $181500.00    | 0.03%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | Caesars Entertainment Inc                                                           | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    803000 | PA      | $680783.40    | 0.12%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                    | FirstEnergy Corp                                                                    | CUSIP: 337932AP2<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     27000 | PA      | $22882.50     | 0.00%             | 2030-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE LUFTHANSA AG                               | Deutsche Lufthansa AG                                                               | CUSIP: 000000000<br>LEI: 529900PH63HYJ86ASW55 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $88283.63     | 0.02%             | 2028-02-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                            | Uruguay Government International Bond                                               | CUSIP: 760942BB7<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    200000 | PA      | $207850.00    | 0.04%             | 2027-10-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SWF ESCROW ISSUER CORP                              | SWF Escrow Issuer Corp                                                              | CUSIP: 78500AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422000 | PA      | $299620.00    | 0.05%             | 2029-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132DWAF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3775752 | PA      | $3404727.34   | 0.59%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| INTL CONSOLIDATED AIRLIN                            | International Consolidated Airlines Group SA                                        | CUSIP: 000000000<br>LEI: 959800TZHQRUSH1ESL13 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $78293.10     | 0.01%             | 2029-03-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                     | Yum! Brands Inc                                                                     | CUSIP: 988498AJ0<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109725.00    | 0.02%             | 2023-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                | Kaiser Aluminum Corp                                                                | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $620466.00    | 0.11%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                            | NCR Corp                                                                            | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    259000 | PA      | $253333.08    | 0.04%             | 2027-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AZUL INVESTMENTS LLP                                | Azul Investments LLP                                                                | CUSIP: 05502FAC2<br>LEI: 549300C6XNC8IDH04C74 | Long             | DBT              | CORP              | US        |    230000 | PA      | $152375.00    | 0.03%             | 2026-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CENTURYLINK INC                                                                 | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -327980 | PA      | $-327980.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                    | ITT Holdings LLC                                                                    | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    437000 | PA      | $375538.14    | 0.06%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Advisor Group, Inc.                                 | Advisor Group, Inc. 2021 Term Loan                                                  | CUSIP: 00775KAE8<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |    154052 | PA      | $148275.05    | 0.03%             | 2026-07-31      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP NFP CORP                                                                        | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -494146 | PA      | $-494146.25   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                            | Neuberger Berman Loan Advisers CLO 46 Ltd                                           | CUSIP: 64134QAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $233801.48    | 0.04%             | 2036-01-20      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP QUALCOMM INCORPORATED                                                           | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -400000 | PA      | $-400000.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140FXCQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2376669 | PA      | $2419480.23   | 0.42%             | 2056-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599DD4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    182000 | PA      | $211034.46    | 0.04%             | 2031-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Helios Software Holdings, Inc.                      | Helios Software Holdings, Inc. 2021 USD Term Loan B                                 | CUSIP: 42328DAF5<br>LEI: 2138002XO5EAYFHPPT53 | Long             | LON              | CORP              | US        |     90056 | PA      | $84483.83     | 0.01%             | 2028-03-11      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| ZF FINANCE GMBH                                     | ZF Finance GmbH                                                                     | CUSIP: 000000000<br>LEI: 5493001N9T6QDCCXB426 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $95249.72     | 0.02%             | 2025-09-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                            | Ascent Resources Utica Holdings LLC / ARU Finance Corp                              | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1132000 | PA      | $1371188.91   | 0.24%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1217000 | PA      | $1061832.50   | 0.18%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN SA                                       | Aroundtown SA                                                                       | CUSIP: 000000000<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $87360.23     | 0.02%             | 2024-09-23      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -470719 | PA      | $-470719.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| TEVA PHARM FNC NL II                                | Teva Pharmaceutical Finance Netherlands II BV                                       | CUSIP: 000000000<br>LEI: 549300HSQCIKJAOYIT23 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $104683.44    | 0.02%             | 2025-01-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                             | Penske Automotive Group Inc                                                         | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |    104000 | PA      | $100306.96    | 0.02%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                         | Oracle Corp                                                                         | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    250000 | PA      | $182213.41    | 0.03%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                               | Directv Financing LLC / Directv Financing Co-Obligor Inc                            | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    589000 | PA      | $548706.51    | 0.09%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP UBER TECHNOLOGIES INC                                                           | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -150108 | PA      | $-150107.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| VALLOUREC SA                                        | Vallourec SA                                                                        | CUSIP: 000000000<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |     32000 | PA      | $31290.09     | 0.01%             | 2026-06-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                                  | CommScope Technologies LLC                                                          | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    655000 | PA      | $605875.00    | 0.10%             | 2025-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARABIAN CENTRES SUKUK II                            | Arabian Centres Sukuk II Ltd                                                        | CUSIP: 03847QAA1<br>LEI: 549300X92PKHJD8UYG94 | Long             | DBT              | CORP              | KY        |    325000 | PA      | $292967.19    | 0.05%             | 2026-10-07      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                           | Loxam SAS                                                                           | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |    101000 | PA      | $95897.90     | 0.02%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE INTERNATIONAL                         | SWAP/CDSWAP/SCDS: (CMACG)                                                           | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | XX        |     10000 | OU      | $160.61       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GCY4<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1629000 | PA      | $1604402.10   | 0.28%             | 2026-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Carrington Mortgage Loan Trust                      | Carrington Mortgage Loan Trust Series 2006-FRE2                                     | CUSIP: 14454AAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6366892 | PA      | $5241872.77   | 0.90%             | 2035-03-25      | Floating      | 2.34%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                           | Uniform Mortgage-Backed Security, TBA                                               | CUSIP: 01F040693<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  17500000 | PA      | $17559409.18  | 3.03%             | 2052-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                              | Nationstar Mortgage Holdings Inc                                                    | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $104531.25    | 0.02%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                  | Telecom Italia SpA/Milano                                                           | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $96854.74     | 0.02%             | 2025-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Crown Cork & Seal Co Inc                            | Crown Cork & Seal Co Inc                                                            | CUSIP: 228255AH8<br>LEI: 7HLDMDH0ZXNUH6PT7Z42 | Long             | DBT              | CORP              | US        |     45000 | PA      | $48589.20     | 0.01%             | 2026-12-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp                                | Lockheed Martin Corp                                                                | CUSIP: 539830BN8<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    451000 | PA      | $437205.63    | 0.08%             | 2052-09-15      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                             | Royal Caribbean Cruises Ltd                                                         | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    116000 | PA      | $91611.37     | 0.02%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                             | Romanian Government International Bond                                              | CUSIP: 77586RAH3<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    366000 | PA      | $300417.38    | 0.05%             | 2031-02-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140X4EZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19362 | PA      | $19885.71     | 0.00%             | 2049-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Graham Holdings Co                                  | Graham Holdings Co                                                                  | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135257.18    | 0.02%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | Uber Technologies Inc                                                               | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    908000 | PA      | $811552.24    | 0.14%             | 2029-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP UNITED AIRL                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3195845 | PA      | $-3195844.96  | -0.55%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 143658BJ0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    488000 | PA      | $505658.28    | 0.09%             | 2027-08-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | Venture Global Calcasieu Pass LLC                                                   | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1058000 | PA      | $976237.76    | 0.17%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132ADPE2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26023 | PA      | $26738.29     | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US LONG BOND(CBT) SEP22                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -144 | NC      | $-346409.65   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| AVAYA INC                                           | Avaya Inc                                                                           | CUSIP: 053499AL3<br>LEI: J6LB5QIFSP2MFEFG4U76 | Long             | DBT              | CORP              | US        |    651000 | PA      | $305794.23    | 0.05%             | 2028-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MINERALS TECHNOLOGIES IN                            | Minerals Technologies Inc                                                           | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |    218000 | PA      | $199761.27    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                        | New Gold Inc                                                                        | CUSIP: 644535AH9<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $706500.00    | 0.12%             | 2027-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR ENERGY RESOURCE                            | Endeavor Energy Resources LP / EER Finance Inc                                      | CUSIP: 29260FAE0<br>LEI: 549300WY5QI80P9WHD46 | Long             | DBT              | CORP              | US        |    567000 | PA      | $567873.18    | 0.10%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAB                                                 | CAB SELAS                                                                           | CUSIP: 000000000<br>LEI: 9695008EGX5O9K1MS743 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $88898.70     | 0.02%             | 2028-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| McAfee, LLC                                         | McAfee, LLC 2022 USD Term Loan B                                                    | CUSIP: 57906HAD9<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |    879005 | PA      | $837621.44    | 0.14%             | 2029-03-01      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP BHP BILLITON FINANCE (USA) LTD                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -228438 | PA      | $-228437.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                           | Zayo Group Holdings, Inc. USD Term Loan                                             | CUSIP: 98919XAB7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    905216 | PA      | $834446.02    | 0.14%             | 2027-03-09      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                               | American Airlines Inc                                                               | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    530000 | PA      | $588300.00    | 0.10%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                            | New Enterprise Stone & Lime Co Inc                                                  | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     48000 | PA      | $40189.82     | 0.01%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                            | Graphic Packaging International LLC                                                 | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     78000 | PA      | $70312.81     | 0.01%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP BURLINGTON NORTHERN SANTA FE L                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -470000 | PA      | $-470000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| INTL CONSOLIDATED AIRLIN                            | International Consolidated Airlines Group SA                                        | CUSIP: 000000000<br>LEI: 959800TZHQRUSH1ESL13 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $91234.30     | 0.02%             | 2025-03-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP MATADOR RESOURCES CO                                                            | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -960520 | PA      | $-960520.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | ITRAXX.XO.37.V1 5YR RTP @ 800.0000                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |    400000 | OU      | $976.24       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                              | MGM China Holdings Ltd                                                              | CUSIP: 000000000<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $206218.75    | 0.04%             | 2026-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                              | Goodyear Tire & Rubber Co/The                                                       | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    187000 | PA      | $170544.00    | 0.03%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    519000 | PA      | $509917.50    | 0.09%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Post Holdings Inc                                   | Post Holdings Inc                                                                   | CUSIP: 737446AN4<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     86000 | PA      | $84710.00     | 0.01%             | 2028-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UNIQUE PUB FINANCE CO                               | Unique Pub Finance Co PLC/The                                                       | CUSIP: 000000000<br>LEI: 213800FOMWLKHQTI5562 | Long             | ABS-O            | CORP              | GB        |   1950720 | PA      | $2399412.00   | 0.41%             | 2024-03-28      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    357000 | PA      | $314777.61    | 0.05%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                              | Energizer Holdings Inc                                                              | CUSIP: 29272WAF6<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138936.87    | 0.02%             | 2027-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TMBTHANACHART BANK PCL                              | TMBThanachart Bank PCL                                                              | CUSIP: 000000000<br>LEI: 549300WKGLXEV3DB7I54 | Long             | DBT              | CORP              | TH        |    250000 | PA      | $220984.38    | 0.04%             | 2024-12-02      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                             | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                               | CUSIP: 82453AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    666000 | PA      | $625207.50    | 0.11%             | 2026-11-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                            | Graphic Packaging International LLC                                                 | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    104000 | PA      | $101297.72    | 0.02%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                | Pilgrim's Pride Corp                                                                | CUSIP: 72147KAG3<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    224000 | PA      | $189140.00    | 0.03%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp.                          | Gainwell Acquisition Corp. Term Loan B                                              | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    778908 | PA      | $754239.64    | 0.13%             | 2027-10-01      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                    | Peruvian Government International Bond                                              | CUSIP: 715638DF6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    233000 | PA      | $205302.13    | 0.04%             | 2031-01-23      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP SOCIETE GENERALE SA                                                             | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -2096250 | PA      | $-2096250.00  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                            | Hilton Domestic Operating Co Inc                                                    | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    534000 | PA      | $479339.76    | 0.08%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                              | Group 1 Automotive Inc                                                              | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     59000 | PA      | $52770.19     | 0.01%             | 2028-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                | Howmet Aerospace Inc                                                                | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |      2000 | PA      | $2014.40      | 0.00%             | 2024-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                            | Microchip Technology Inc                                                            | CUSIP: 595017AD6<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    102000 | PA      | $294078.75    | 0.05%             | 2025-02-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC                  | RRP INDONESIA (REPUBLIC OF)                                                         | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -257388 | PA      | $-257387.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP UPC BROADBAND FINCO BV                                                          | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -403952 | PA      | $-403952.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                              | Telecom Italia Capital SA                                                           | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    191000 | PA      | $159274.90    | 0.03%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                 | LBM Acquisition LLC                                                                 | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    266000 | PA      | $200830.00    | 0.03%             | 2029-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CHANGE HEAL                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -657305 | PA      | $-657305.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ALLIANT HOLDINGS INTERMEDIATE                                                   | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1610155 | PA      | $-1610155.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| II-VI INC                                           | II-VI Inc                                                                           | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    924000 | PA      | $880110.00    | 0.15%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                | Paraguay Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $175912.50    | 0.03%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Naked Juice LLC                                     | Naked Juice LLC 2nd Lien Term Loan                                                  | CUSIP: 62984CAB9<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |     38000 | PA      | $34453.46     | 0.01%             | 2030-01-24      | Floating      | 8.15%                 | No            |                  2 | On Loan: No      |
| TERVITA CORP                                        | Tervita Corp                                                                        | CUSIP: 88159EAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    147000 | PA      | $159862.50    | 0.03%             | 2025-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CIDRON AIDA FINCO SARL                              | Cidron Aida Finco Sarl                                                              | CUSIP: 000000000<br>LEI: 98450036A07991DEBF10 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $89919.93     | 0.02%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CCO HOLDINGS LLC                                                                | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -541205 | PA      | $-541205.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CLEAN HARBORS INC                                                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -158619 | PA      | $-158618.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CALPINE CORP                                        | Calpine Corp                                                                        | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    295000 | PA      | $286150.00    | 0.05%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                                 | Churchill Downs Inc                                                                 | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    434000 | PA      | $411438.51    | 0.07%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Republic of Sri Lanka                               | Sri Lanka Government International Bond                                             | CUSIP: 000000000<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |    400000 | PA      | $118450.00    | 0.02%             | 2024-03-14      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| RITCHIE BROS AUCTIONEERS                            | Ritchie Bros Auctioneers Inc                                                        | CUSIP: 767744AA3<br>LEI: 5493002H8U24DJXQ4886 | Long             | DBT              | CORP              | CA        |    157000 | PA      | $157392.50    | 0.03%             | 2025-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Verscend Holding Corp.                              | Verscend Holding Corp. 2021 Term Loan B                                             | CUSIP: 92531HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1245209 | PA      | $1210193.42   | 0.21%             | 2025-08-27      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| CHANGE HEALTH / FIN INC                             | Change Healthcare Holdings LLC / Change Healthcare Finance Inc                      | CUSIP: 15911NAA3<br>LEI: 549300GS1BPJEDOZHM07 | Long             | DBT              | CORP              | US        |    780000 | PA      | $776232.60    | 0.13%             | 2025-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                              | General Motors Financial Co Inc                                                     | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    395000 | PA      | $374262.50    | 0.06%             | 2030-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 156700BA3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    368000 | PA      | $377457.60    | 0.07%             | 2024-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                    | COLT 2022-7 Mortgage Loan Trust                                                     | CUSIP: 12663GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $2749975.53   | 0.47%             | 2067-04-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation                   | Great Canadian Gaming Corporation 2021 Term Loan                                    | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |     71000 | PA      | $68692.50     | 0.01%             | 2026-11-01      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                            | Antero Midstream Partners LP / Antero Midstream Finance Corp                        | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382000 | PA      | $380195.05    | 0.07%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL/GATES CORP                             | Gates Global LLC / Gates Corp                                                       | CUSIP: 36740LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    572000 | PA      | $559221.52    | 0.10%             | 2026-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                               | Mineral Resources Ltd                                                               | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    162000 | PA      | $164596.05    | 0.03%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                            | Bellis Acquisition Co PLC                                                           | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $98946.24     | 0.02%             | 2026-02-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                 | JPMorgan Chase & Co                                                                 | CUSIP: 48128BAG6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    320000 | PA      | $283710.17    | 0.05%             | 2025-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                          | AbbVie Inc                                                                          | CUSIP: 00287YDB2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494494.52    | 0.09%             | 2045-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL VISION HOLDINGS                            | National Vision Holdings Inc                                                        | CUSIP: 63845RAB3<br>LEI: 549300JHURCBLI5ROA42 | Long             | DBT              | CORP              | US        |    311000 | PA      | $360190.16    | 0.06%             | 2025-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                            | Madison Park Funding XXIX LTD                                                       | CUSIP: 55820EAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $441558.05    | 0.08%             | 2030-10-18      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                                 | Shift4 Payments Inc                                                                 | CUSIP: 82452JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    446000 | PA      | $383281.25    | 0.07%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | EnLink Midstream Partners LP                                                        | CUSIP: 29336UAB3<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    281000 | PA      | $281477.70    | 0.05%             | 2024-04-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140X66E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1472596 | PA      | $1498082.28   | 0.26%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP ABBVIE INC                                                                      | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -446875 | PA      | $-446875.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                             | Iron Mountain Information Management Services Inc                                   | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    294000 | PA      | $265083.63    | 0.05%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                        | Centene Corp                                                                        | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1292000 | PA      | $1274235.00   | 0.22%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                             | MPT Operating Partnership LP / MPT Finance Corp                                     | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              |  | US        |    506000 | PA      | $474375.00    | 0.08%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | Frontier Communications Holdings LLC                                                | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    658000 | PA      | $698723.62    | 0.12%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                       | TransDigm Inc                                                                       | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   7135000 | PA      | $7169319.35   | 1.24%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                            | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL    | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |    227000 | PA      | $198194.11    | 0.03%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP RADIATE HOLDCO LLC / RADIATE F                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1302656 | PA      | $-1302656.25  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | Sirius XM Radio Inc                                                                 | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    139000 | PA      | $125496.15    | 0.02%             | 2030-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Deerfield Dakota Holding, LLC                       | Deerfield Dakota Holding, LLC 2021 USD 2nd Lien Term Loan                           | CUSIP: 24440EAG2<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |    274000 | PA      | $266465.00    | 0.05%             | 2028-04-07      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| Polaris Newco LLC                                   | Polaris Newco LLC USD Term Loan B                                                   | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |    222169 | PA      | $210658.13    | 0.04%             | 2028-06-02      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| NIELSEN FINANCE LLC/CO                              | Nielsen Finance LLC / Nielsen Finance Co                                            | CUSIP: 65409QBF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    242000 | PA      | $237462.50    | 0.04%             | 2030-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Atotech B.V.                                        | Atotech B.V. 2021 USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300RVASWYF4HCO804 | Long             | LON              | CORP              | NL        |    583110 | PA      | $576550.01    | 0.10%             | 2028-03-18      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                            | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                                 | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    566000 | PA      | $499857.24    | 0.09%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP WESTERN MIDSTREAM OPERATING LP                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -700729 | PA      | $-700728.75   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP PHILIP MORRIS INTERNATIONAL IN                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -716625 | PA      | $-716625.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP FOUNDATION BUILDING MATERIALS                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -92782 | PA      | $-92782.50    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                        | JELD-WEN Inc                                                                        | CUSIP: 475795AE0<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    189000 | PA      | $188228.88    | 0.03%             | 2025-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                      | Transocean Inc                                                                      | CUSIP: 893830BQ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    195000 | PA      | $184784.93    | 0.03%             | 2027-01-30      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SHELL INTERNATIONAL FINANCE BV                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -411750 | PA      | $-411750.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDI                                    | Ford Motor Credit Co LLC                                                            | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    617000 | PA      | $523314.72    | 0.09%             | 2031-06-17      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                          | Twilio Inc                                                                          | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    735000 | PA      | $651107.10    | 0.11%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                             | Starwood Property Trust Inc                                                         | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     99000 | PA      | $90743.66     | 0.02%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    235000 | PA      | $229125.00    | 0.04%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| OIL & GAS HOLDING                                   | Oil and Gas Holding Co BSCC/The                                                     | CUSIP: 000000000<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |    200000 | PA      | $201850.00    | 0.03%             | 2024-11-07      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                    | Lamar Media Corp                                                                    | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163000 | PA      | $150065.95    | 0.03%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP SQUARE INC                                                                      | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -750075 | PA      | $-750075.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    368000 | PA      | $334880.00    | 0.06%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP STANDARD INDUSTRIES INC                                                         | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -209790 | PA      | $-209790.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Ultimate Software Group Inc (The)                   | Ultimate Software Group Inc (The) Term Loan B                                       | CUSIP: 90385KAB7<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    209224 | PA      | $203208.85    | 0.04%             | 2026-05-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                              | Telecom Italia Capital SA                                                           | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     71000 | PA      | $58930.00     | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    731000 | PA      | $579317.50    | 0.10%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EP Purchaser, LLC                                   | EP Purchaser, LLC 2021 Term Loan B                                                  | CUSIP: 26881KAC8<br>LEI: 549300GGODRVQG1GH476 | Long             | LON              | CORP              | US        |     82838 | PA      | $80905.66     | 0.01%             | 2028-11-06      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                     | Ocado Group PLC                                                                     | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $97811.74     | 0.02%             | 2026-10-08      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                    | Sensata Technologies Inc                                                            | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    818000 | PA      | $759248.46    | 0.13%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                           | Crocs Inc                                                                           | CUSIP: 227046AA7<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     32000 | PA      | $26245.55     | 0.00%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                 | Sprint Capital Corp                                                                 | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1778000 | PA      | $1995805.00   | 0.34%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| INTRUM AB                                           | Intrum AB                                                                           | CUSIP: 000000000<br>LEI: 549300UNCO2FCUWXX470 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $82019.49     | 0.01%             | 2027-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITYCON OYJ                                         | Citycon Oyj                                                                         | CUSIP: 000000000<br>LEI: 549300P8N0P6KDGTJ206 | Long             | DBT              | CORP              | FI        |    100000 | PA      | $72563.48     | 0.01%             | 2024-11-24      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT / FINCO                              | Caesars Resort Collection LLC / CRC Finco Inc                                       | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $20003.00     | 0.00%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ARDAGH METAL PACKAGING FINANCE                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1007818 | PA      | $-1007817.50  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| CALPINE CORP                                        | Calpine Corp                                                                        | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6213.73      | 0.00%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132AEAV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    143400 | PA      | $147924.90    | 0.03%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (CMACG)                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |      4718 | OU      | $-35.92       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | Venture Global Calcasieu Pass LLC                                                   | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   2459000 | PA      | $2134756.26   | 0.37%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                        | US Foods Inc                                                                        | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    427000 | PA      | $398576.77    | 0.07%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP BANK OF AMERICA CORP                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3871875 | PA      | $-3871875.00  | -0.67%            |  |  |  | No            |                  2 | On Loan: No      |
| ATI INC                                             | ATI Inc                                                                             | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    129000 | PA      | $110379.23    | 0.02%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                               | Wells Fargo & Co                                                                    | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    465000 | PA      | $430706.25    | 0.07%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| NETWORK I2I LTD                                     | Network i2i Ltd                                                                     | CUSIP: V6703DAA2<br>LEI: 2549003L8M1FGHLHOX45 | Long             | DBT              | CORP              | MU        |    250000 | PA      | $239950.00    | 0.04%             | 2025-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                            | Connect Finco SARL / Connect US Finco LLC                                           | CUSIP: 20752TAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2548000 | PA      | $2492020.44   | 0.43%             | 2026-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                 | Altice Financing SA 2017 USD Term Loan B                                            | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |     43420 | PA      | $41477.38     | 0.01%             | 2025-07-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| W.R. Grace & Co.-Conn.                              | W.R. Grace & Co.-Conn. 2021 Term Loan B                                             | CUSIP: 92943HAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    305773 | PA      | $293159.96    | 0.05%             | 2028-09-22      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP LIFEPOINT HEALTH INC                                                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -310399 | PA      | $-310398.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| NCR CORP                                            | NCR Corp                                                                            | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     93000 | PA      | $90541.75     | 0.02%             | 2029-09-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications Inc                            | iHeartCommunications Inc                                                            | CUSIP: 45174HBC0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    191814 | PA      | $186654.20    | 0.03%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CONSTELLIUM SE (FRANCE)                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1049840 | PA      | $-1049840.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                           | Titan Acquisition Limited 2018 Term Loan B                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1817181 | PA      | $1702699.02   | 0.29%             | 2025-03-28      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                               | HUB International Ltd                                                               | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1392000 | PA      | $1374558.24   | 0.24%             | 2026-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE LUFTHANSA AG                               | Deutsche Lufthansa AG                                                               | CUSIP: 000000000<br>LEI: 529900PH63HYJ86ASW55 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $83297.05     | 0.01%             | 2029-07-14      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP MPT OPERATING PARTNERSHIP LP                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1053010 | PA      | $-1053010.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| ALM Loan Funding                                    | ALM 2020 Ltd                                                                        | CUSIP: 00166DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    287000 | PA      | $255738.73    | 0.04%             | 2029-10-15      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                              | CHL Mortgage Pass-Through Trust 2006-OA5                                            | CUSIP: 126694N46<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4310873 | PA      | $3778901.00   | 0.65%             | 2046-04-25      | Floating      | 2.46%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                    | Organon & Co / Organon Foreign Debt Co-Issuer BV                                    | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1216000 | PA      | $1138480.00   | 0.20%             | 2031-04-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | EnLink Midstream Partners LP                                                        | CUSIP: 29336UAD9<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |     49000 | PA      | $36125.25     | 0.01%             | 2045-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                               | RRP BERKSHIRE HATHAWAY FINANCE COR                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -234688 | PA      | $-234687.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                      | Constellium SE                                                                      | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |   1645000 | PA      | $1402362.50   | 0.24%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                    | FirstEnergy Corp                                                                    | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    932000 | PA      | $695598.20    | 0.12%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC                  | RRP CARVANA CO                                                                      | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -183645 | PA      | $-183645.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| AIRBNB INC                                          | Airbnb Inc                                                                          | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |    724000 | PA      | $629880.00    | 0.11%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                  | CA Magnum Holdings                                                                  | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    488000 | PA      | $429440.00    | 0.07%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                            | RHP Hotel Properties LP / RHP Finance Corp                                          | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              |  | US        |   1032000 | PA      | $995880.00    | 0.17%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                      | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2012000 | PA      | $1909669.68   | 0.33%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ALBERTSONS COMPANIES INC                                                        | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -800685 | PA      | $-800685.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV                             | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc                         | CUSIP: 03522AAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2160000 | PA      | $2175346.54   | 0.38%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CARNIVAL CORP                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -626250 | PA      | $-626250.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-OA8                                                     | CUSIP: 02147CAA1<br>LEI: 549300EBNJLBIQBKE071 | Long             | ABS-MBS          | CORP              | US        |   1214923 | PA      | $1051677.75   | 0.18%             | 2046-07-25      | Floating      | 2.64%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                            | Hilton Domestic Operating Co Inc                                                    | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    186000 | PA      | $168795.00    | 0.03%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP NRG ENERGY INC                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -290179 | PA      | $-290178.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                            | 1011778 BC ULC / New Red Finance Inc                                                | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    754000 | PA      | $697306.96    | 0.12%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                                 | Bangkok Bank PCL/Hong Kong                                                          | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    205000 | PA      | $190560.31    | 0.03%             | 2025-09-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS                            | Wyndham Hotels & Resorts Inc                                                        | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    204000 | PA      | $187415.98    | 0.03%             | 2028-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                            | Sinclair Television Group Inc                                                       | CUSIP: 829259BA7<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    643000 | PA      | $546633.59    | 0.09%             | 2030-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                            | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                                | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    808000 | PA      | $704980.00    | 0.12%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599EE1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    195000 | PA      | $199420.65    | 0.03%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN                                  | Bahrain Government International Bond                                               | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |    301000 | PA      | $309522.06    | 0.05%             | 2026-01-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PRIME CAPITAL                                | Global Prime Capital Pte Ltd                                                        | CUSIP: 000000000<br>LEI: 254900BOZNNFPDZAEZ24 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $196412.50    | 0.03%             | 2023-10-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                             | Royal Caribbean Cruises Ltd                                                         | CUSIP: 780153BC5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    195000 | PA      | $197946.45    | 0.03%             | 2023-06-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                              | Standard Chartered PLC                                                              | CUSIP: 853254BK5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $475524.87    | 0.08%             | 2033-03-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| COLGATE ENERGY P                                    | Colgate Energy Partners III LLC                                                     | CUSIP: 19416MAB5<br>LEI: 549300QRLZK0B17DH791 | Long             | DBT              | CORP              | US        |    452000 | PA      | $413729.16    | 0.07%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                            | Scientific Games International Inc                                                  | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    213000 | PA      | $216727.50    | 0.04%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                  | Ukraine Government International Bond                                               | CUSIP: 903724BY7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    371000 | PA      | $69933.50     | 0.01%             | 2033-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Stars Group Holdings B.V. (The)                     | Stars Group Holdings B.V. (The) 2018 USD Incremental Term Loan                      | CUSIP: 000000000<br>LEI: 549300RNFXC8F8RT6R13 | Long             | LON              | CORP              | NL        |     39258 | PA      | $38465.78     | 0.01%             | 2026-07-21      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| DORNOCH DEBT MERGER SUB                             | Dornoch Debt Merger Sub Inc                                                         | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $106187.60    | 0.02%             | 2029-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                 | Altice Financing SA                                                                 | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   1368000 | PA      | $1194222.96   | 0.21%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                     | United Group BV                                                                     | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $82170.75     | 0.01%             | 2027-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                                        | Yuzhou Group Holdings Co Ltd                                                        | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $14000.00     | 0.00%             | 2025-02-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MASONITE INTERNATIONAL C                            | Masonite International Corp                                                         | CUSIP: 575385AE9<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |    273000 | PA      | $234943.97    | 0.04%             | 2030-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                        | Centene Corp                                                                        | CUSIP: 15135BAZ4<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    426000 | PA      | $363266.78    | 0.06%             | 2031-08-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140FXDJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5471577 | PA      | $5587074.69   | 0.96%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DANAOS CORP                                         | Danaos Corp                                                                         | CUSIP: 23585WAA2<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |    100000 | PA      | $99955.24     | 0.02%             | 2028-03-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 40YR REPERFORMING MODIFIE                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -7825431 | PA      | $-7825431.27  | -1.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Element Materials Technology Group US Holdings Inc. | Element Materials Technology Group US Holdings Inc. 2022 USD Term Loan              | CUSIP: 000000000<br>LEI: 213800EGOJGGUKUGEZ30 | Long             | LON              | CORP              | US        |     88875 | PA      | $85319.66     | 0.01%             | 2029-06-22      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                    | FirstEnergy Corp                                                                    | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    345000 | PA      | $303600.00    | 0.05%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                      | Hertz Corp/The                                                                      | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    161000 | PA      | $143290.00    | 0.02%             | 2026-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NPC UKRENERGO                                       | NPC Ukrenergo                                                                       | CUSIP: 63718LAA2<br>LEI: 8945009LCLS92V4AK321 | Long             | DBT              | CORP              | UA        |    205000 | PA      | $36900.00     | 0.01%             | 2026-11-09      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES LTD                               | Nabors Industries Ltd                                                               | CUSIP: 629571AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    179000 | PA      | $155712.10    | 0.03%             | 2028-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ALTICE FRANCE SA (FRANCE)                                                       | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1008805 | PA      | $-1008805.00  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                            | Vistra Operations Co LLC                                                            | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    306000 | PA      | $284479.02    | 0.05%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP TENET HEALTHCARE CORPORATION                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -712519 | PA      | $-712518.75   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/Community Health Systems Inc                                                    | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    581000 | PA      | $554855.00    | 0.10%             | 2026-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    417000 | PA      | $463758.21    | 0.08%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| NGPL PipeCo LLC                                     | NGPL PipeCo LLC                                                                     | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |    270000 | PA      | $301676.76    | 0.05%             | 2037-12-15      | Fixed         | 7.77%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                 | PURCHASED USD / SOLD EUR                                                            | CUSIP: 000000000<br>LEI: RR3QWICWWIPCS8A4S074 | N/A              | DFE              |  | US        |         1 | NC      | $431177.23    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                              | FMG Resources August 2006 Pty Ltd                                                   | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    519000 | PA      | $493309.50    | 0.09%             | 2032-04-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TRANSURBAN FINANCE CO                               | Transurban Finance Co Pty Ltd                                                       | CUSIP: 89400PAE3<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | CORP              | AU        |    520000 | PA      | $517983.91    | 0.09%             | 2026-02-02      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BCPE EMPIRE HOLDINGS INC                            | BCPE Empire Holdings Inc                                                            | CUSIP: 05552VAA0<br>LEI: 549300O2G0VI2955B626 | Long             | DBT              | CORP              | US        |    139000 | PA      | $121278.89    | 0.02%             | 2027-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates               | CWABS Asset-Backed Certificates Trust 2006-25                                       | CUSIP: 12668HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    561577 | PA      | $514626.20    | 0.09%             | 2037-06-25      | Floating      | 2.40%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP GENERAL MOTORS FINANCIAL CO IN                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -310108 | PA      | $-310107.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                            | Cheniere Energy Partners LP                                                         | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    668000 | PA      | $582830.00    | 0.10%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                 | Intesa Sanpaolo SpA                                                                 | CUSIP: 46115HAT4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   2888000 | PA      | $2796418.57   | 0.48%             | 2024-06-26      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| ANGI GROUP LLC                                      | ANGI Group LLC                                                                      | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $277099.63    | 0.05%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP                                    | IRB Holding Corp 2022 Term Loan B                                                   | CUSIP: 44988LAH0<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    261837 | PA      | $250708.70    | 0.04%             | 2027-12-15      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-12T1                                                    | CUSIP: 02150LBG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3456558 | PA      | $1867353.02   | 0.32%             | 2037-06-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                                 | Ligado Networks LLC                                                                 | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    304381 | PA      | $161321.93    | 0.03%             | 2023-11-01      | Fixed         | 15.50%                | No            |                  2 | On Loan: No      |
| Morgan Stanley                                      | Morgan Stanley                                                                      | CUSIP: 61763E207<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    100000 | NS      | $2631000.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CABLEVISION LIGHTPATH                               | Cablevision Lightpath LLC                                                           | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    418000 | PA      | $371497.50    | 0.06%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                    | COLT 2020-3 Mortgage Loan Trust                                                     | CUSIP: 12597QAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2850000 | PA      | $2680682.36   | 0.46%             | 2065-04-27      | Variable      | 3.36%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                               | Scotts Miracle-Gro Co/The                                                           | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     34000 | PA      | $27880.00     | 0.00%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                    | Lamar Media Corp                                                                    | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $47000.00     | 0.01%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP LOCKHEED MARTIN CORPORATION                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -416611 | PA      | $-416611.25   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140XAUR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1846328 | PA      | $1891096.40   | 0.33%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2015-1 A PTT                             | United Airlines 2015-1 Class A Pass Through Trust                                   | CUSIP: 90932LAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3570000 | PA      | $3549886.26   | 0.61%             | 2022-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| TITAN ACQ/CO-BORROWER                               | Titan Acquisition Ltd / Titan Co-Borrower LLC                                       | CUSIP: 88827AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1241000 | PA      | $1110695.00   | 0.19%             | 2026-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                            | Live Nation Entertainment Inc                                                       | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39854.00     | 0.01%             | 2024-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1191000 | PA      | $954652.01    | 0.16%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                            | Saudi Government International Bond                                                 | CUSIP: 80413TAK5<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $210250.00    | 0.04%             | 2029-04-16      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                 | CDW LLC / CDW Finance Corp                                                          | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $63289.17     | 0.01%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                       | DISH DBS Corp                                                                       | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1070000 | PA      | $887565.00    | 0.15%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                               | GFL Environmental Inc                                                               | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    176000 | PA      | $170828.24    | 0.03%             | 2025-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                            | Advanced Drainage Systems Inc                                                       | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    259000 | PA      | $253820.00    | 0.04%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                               | NESCO Holdings II Inc                                                               | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    305000 | PA      | $264587.50    | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                            | NFP Corp                                                                            | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |   2267000 | PA      | $1989519.20   | 0.34%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                 | United Airlines Inc                                                                 | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    785000 | PA      | $723181.25    | 0.12%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RAYMOND JAMES FINANCIAL                             | Raymond James Financial Inc                                                         | CUSIP: 754730AF6<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395876.07    | 0.07%             | 2046-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | Uber Technologies Inc                                                               | CUSIP: 90353TAG5<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    366000 | PA      | $359971.98    | 0.06%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXII Ltd                | Octagon Investment Partners XXII Ltd                                                | CUSIP: 67572YBW1<br>LEI: 549300MQ9W5DWZ8QX450 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $465690.00    | 0.08%             | 2030-01-22      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                  | Morocco Government International Bond                                               | CUSIP: 617726AK0<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    379000 | PA      | $328308.75    | 0.06%             | 2027-12-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                | Colombia Government International Bond                                              | CUSIP: 195325BD6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    159000 | PA      | $166930.13    | 0.03%             | 2024-05-21      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                        | SM Energy Co                                                                        | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    230000 | PA      | $226639.70    | 0.04%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                              | AngloGold Ashanti Holdings PLC                                                      | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    400000 | PA      | $338923.00    | 0.06%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ALLIED UNIVERSAL HOLDCO LLC                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -672750 | PA      | $-672750.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                              | Goodyear Tire & Rubber Co/The                                                       | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    316000 | PA      | $277132.00    | 0.05%             | 2033-04-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                | Kraft Heinz Foods Co                                                                | CUSIP: 50077LAZ9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    513000 | PA      | $479750.41    | 0.08%             | 2049-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-22                                                      | CUSIP: 02151BBG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7096889 | PA      | $3362217.96   | 0.58%             | 2037-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE INTERNATIONAL                         | SWAP/CDSWAP/SCDS: (CMACG)                                                           | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | XX        |     50000 | OU      | $-380.70      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Whetstone Park CLO Ltd                              | Whetstone Park CLO Ltd                                                              | CUSIP: 96329YAC1<br>LEI: 549300M54M5QSBMB3780 | Long             | ABS-CBDO         | CORP              | KY        |    275000 | PA      | $257127.61    | 0.04%             | 2035-01-20      | Floating      | 4.31%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140FXCK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7826471 | PA      | $8219633.65   | 1.42%             | 2055-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP DCP MIDSTRE                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -153108 | PA      | $-153107.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP PERU (REPUBLIC OF)                                                              | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -264364 | PA      | $-264363.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                      | Bayview Commercial Asset Trust 2007-2                                               | CUSIP: 07325XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1513733 | PA      | $1335220.97   | 0.23%             | 2037-07-25      | Floating      | 2.53%                 | No            |                  2 | On Loan: No      |
| BROWN GROUP HOLDING, LLC                            | Brown Group Holding, LLC 2022 Term Loan B2                                          | CUSIP: 11565HAD8<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |    327000 | PA      | $319711.17    | 0.06%             | 2029-07-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HILONG HOLDING LTD                                  | Hilong Holding Ltd                                                                  | CUSIP: 000000000<br>LEI: 5493007WSRWZ0UF15X65 | Long             | DBT              | CORP              | KY        |    207000 | PA      | $99398.81     | 0.02%             | 2024-11-18      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR                            | Greystar Real Estate Partners LLC                                                   | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119890.80    | 0.02%             | 2025-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE                            | Pioneer Natural Resources Co                                                        | CUSIP: 723787AP2<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |    361000 | PA      | $828856.00    | 0.14%             | 2025-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| General Motors Co                                   | General Motors Co                                                                   | CUSIP: 37045VAF7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   2194000 | PA      | $2158514.18   | 0.37%             | 2043-10-02      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | Frontier Communications Holdings LLC                                                | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    387000 | PA      | $381249.18    | 0.07%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA                                  | Camelot Finance SA                                                                  | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    524000 | PA      | $501263.64    | 0.09%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SRM ESCROW ISSUER LLC                               | SRM Escrow Issuer LLC                                                               | CUSIP: 85236FAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    643000 | PA      | $596633.27    | 0.10%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SINIC HOLDINGS GROUP CO                             | Sinic Holdings Group Co Ltd                                                         | CUSIP: 000000000<br>LEI: 300300N5XRCGHA7P7B13 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $4000.00      | 0.00%             | 2022-06-18      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2005-9CB                                                     | CUSIP: 12667GEM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1419299 | PA      | $1271722.42   | 0.22%             | 2035-05-25      | Floating      | 2.71%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES                                | Winnebago Industries Inc                                                            | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |     98000 | PA      | $93532.18     | 0.02%             | 2028-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                            | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd           | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    947500 | PA      | $956965.53    | 0.17%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                      | Sabre GLBL Inc                                                                      | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    229000 | PA      | $232984.60    | 0.04%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| American Home Mortgage Assets                       | American Home Mortgage Assets Trust 2006-5                                          | CUSIP: 02660KAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4318662 | PA      | $1468245.71   | 0.25%             | 2046-11-25      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| FAURECIA                                            | Faurecia SE                                                                         | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $88508.69     | 0.02%             | 2028-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRIUMPH GROUP INC                                   | Triumph Group Inc                                                                   | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1091260.35   | 0.19%             | 2024-06-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC Holdings LLC                                                                    | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    783000 | PA      | $665550.00    | 0.11%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AIT Worldwide Logistics, Inc                        | AIT Worldwide Logistics, Inc 2021 Term Loan                                         | CUSIP: 00145AAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    142920 | PA      | $128985.30    | 0.02%             | 2028-04-06      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO IV Ltd                                  | Elmwood CLO IV Ltd                                                                  | CUSIP: 29002GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $236461.55    | 0.04%             | 2033-04-15      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| JSW STEEL LTD                                       | JSW Steel Ltd                                                                       | CUSIP: 000000000<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $196750.00    | 0.03%             | 2024-04-18      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 15YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1557759 | PA      | $-1557759.39  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                            | Weatherford International Ltd                                                       | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     17000 | PA      | $16174.82     | 0.00%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                            | Electricite de France SA                                                            | CUSIP: 268317AF1<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   7500000 | PA      | $7200000.00   | 1.24%             | 2023-01-29      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                              | CUSIP: 46590XAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    357000 | PA      | $300532.23    | 0.05%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP BANK OF AME                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -2839931 | PA      | $-2839931.25  | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP VOYA FINANCIAL INC                                                              | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -790250 | PA      | $-790250.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                            | Enterprise Products Operating LLC                                                   | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    420000 | PA      | $336569.27    | 0.06%             | 2078-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                  | Energy Transfer LP                                                                  | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    894000 | PA      | $811305.00    | 0.14%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IndyMac Residential Asset Backed Trust              | Home Equity Mortgage Loan Asset-Backed Trust Series INABS 2006-E                    | CUSIP: 43709XAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3574153 | PA      | $2541045.53   | 0.44%             | 2037-04-25      | Floating      | 2.43%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | Encompass Health Corp                                                               | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    270000 | PA      | $242395.20    | 0.04%             | 2031-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VERITAS US INC/BERMUDA L                            | Veritas US Inc / Veritas Bermuda Ltd                                                | CUSIP: 92346LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    432000 | PA      | $364640.99    | 0.06%             | 2025-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                               | CNX Midstream Partners LP                                                           | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $106890.48    | 0.02%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRF GMBH                                            | BRF GmbH                                                                            | CUSIP: 000000000<br>LEI: 5299002S6DY5RA2IOQ11 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $182315.00    | 0.03%             | 2026-09-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | Southwestern Energy Co                                                              | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    206000 | PA      | $192095.00    | 0.03%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RONSHINE CHINA                                      | Ronshine China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300GNBBT32SFSEC47 | Long             | DBT              | CORP              | KY        |     23000 | PA      | $1610.00      | 0.00%             | 2023-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                     | Madison IAQ LLC                                                                     | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    399000 | PA      | $311483.34    | 0.05%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | Encompass Health Corp                                                               | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     59000 | PA      | $54586.80     | 0.01%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                               | Wells Fargo & Co                                                                    | CUSIP: 949746RG8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $8353708.18   | 1.44%             | 2024-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP TENET HEALTHCARE CORPORATION                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1378541 | PA      | $-1378541.25  | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| Lehman Brothers Small Balance Commercial            | Lehman Brothers Small Balance Commercial Mortgage Trust 2006-1                      | CUSIP: 86359DZP5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    511699 | PA      | $501714.15    | 0.09%             | 2031-04-25      | Floating      | 3.26%                 | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                                   | American Builders & Contractors Supply Co Inc                                       | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |    536000 | PA      | $501626.32    | 0.09%             | 2028-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | Sirius XM Radio Inc                                                                 | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    445000 | PA      | $413405.00    | 0.07%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                         | Gartner Inc                                                                         | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     96000 | PA      | $92380.62     | 0.02%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                   | ILLINOIS ST                                                                         | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    800000 | PA      | $813208.80    | 0.14%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                            | Ajax Mortgage Loan Trust 2017-D                                                     | CUSIP: 00968BAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19981 | PA      | $18629.85     | 0.00%             | 2057-12-25      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Countrywide Home Loans                              | CHL Mortgage Pass-Through Trust 2007-J2                                             | CUSIP: 12545EAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2670664 | PA      | $738775.04    | 0.13%             | 2037-07-25      | Floating      | 2.91%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                              | Option Care Health Inc                                                              | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |    314000 | PA      | $286525.00    | 0.05%             | 2029-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AAdvantage Loyalty IP Ltd.                          | AAdvantage Loyalty IP Ltd. 2021 Term Loan                                           | CUSIP: 02376CBJ3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    748062 | PA      | $735905.99    | 0.13%             | 2028-04-20      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                              | Match Group Holdings II LLC                                                         | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    209000 | PA      | $204820.00    | 0.04%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                            | Catalent Pharma Solutions Inc                                                       | CUSIP: 14879EAK4<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    584000 | PA      | $522425.96    | 0.09%             | 2030-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                             | Central Garden & Pet Co                                                             | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    224000 | PA      | $192850.56    | 0.03%             | 2031-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                             | LCPR Senior Secured Financing DAC                                                   | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    180000 | PA      | $174740.83    | 0.03%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                                 | Silgan Holdings Inc                                                                 | CUSIP: 827048AW9<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98437.50     | 0.02%             | 2028-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                       | CommScope Inc                                                                       | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    129000 | PA      | $112230.00    | 0.02%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                      | Hertz Corp/The                                                                      | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    130000 | PA      | $111155.85    | 0.02%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association            | Government National Mortgage Association                                            | CUSIP: 38380HHT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    709889 | PA      | $700688.70    | 0.12%             | 2047-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    937000 | PA      | $828231.25    | 0.14%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GCP APPLIED TECHNOLOGIES                            | GCP Applied Technologies Inc                                                        | CUSIP: 36164YAB7<br>LEI: 5493007G654QKQVEKV09 | Long             | DBT              | CORP              | US        |    199000 | PA      | $201885.50    | 0.03%             | 2026-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LUNE HOLDINGS SARL                                  | Lune Holdings Sarl                                                                  | CUSIP: 000000000<br>LEI: 54930003WQ56T0558M33 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $88743.96     | 0.02%             | 2028-11-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                  | Dominican Republic International Bond                                               | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    523000 | PA      | $513128.38    | 0.09%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP NEXTERA ENE                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1002500 | PA      | $-1002500.00  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP VERTICAL US NEWCO INC                                                           | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -752505 | PA      | $-752505.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                                | Ryan Specialty Group LLC                                                            | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    173000 | PA      | $156132.50    | 0.03%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140JHX81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33250 | PA      | $34249.44     | 0.01%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                  | Ellington Financial Mortgage Trust 2020-1                                           | CUSIP: 31574PAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $490261.40    | 0.08%             | 2065-05-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                         | Ivory Coast Government International Bond                                           | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    731000 | PA      | $668865.00    | 0.12%             | 2028-03-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                             | MPT Operating Partnership LP / MPT Finance Corp                                     | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $65450.00     | 0.01%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                             | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    100000 | PA      | $84702.37     | 0.01%             | 2028-06-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                              | Millicom International Cellular SA                                                  | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    282600 | PA      | $256770.36    | 0.04%             | 2028-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP                                | Covanta Holding Corp                                                                | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    271000 | PA      | $241387.83    | 0.04%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | Caesars Entertainment Inc                                                           | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1916000 | PA      | $1911210.00   | 0.33%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DEALER TIRE LLC/DT ISSR                             | Dealer Tire LLC / DT Issuer LLC                                                     | CUSIP: 24229JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    436000 | PA      | $391266.40    | 0.07%             | 2028-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MERLIN ENTERTAINMENTS                               | Merlin Entertainments Ltd                                                           | CUSIP: 59010QAB2<br>LEI: 549300ZTI0VEFO6WV007 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $185132.54    | 0.03%             | 2026-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                  | Telecom Italia SpA/Milano                                                           | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    202000 | PA      | $196394.50    | 0.03%             | 2024-05-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                     | Yum! Brands Inc                                                                     | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    123000 | PA      | $111311.31    | 0.02%             | 2031-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ASG FINANCE DESIGNATED                              | ASG Finance Designated Activity Co                                                  | CUSIP: 00217AAA4<br>LEI: 5493005UOB0OMEJ4WK10 | Long             | DBT              | CORP              | IE        |    262000 | PA      | $245625.00    | 0.04%             | 2024-12-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC               | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $166530.00    | 0.03%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                 | Clydesdale Acquisition Holdings Inc Term Loan B                                     | CUSIP: 18972FAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    131000 | PA      | $125596.25    | 0.02%             | 2029-04-13      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                    | Trestles Clo IV Ltd                                                                 | CUSIP: 89532WAC3<br>LEI: 254900EO5I6CR0IOWS98 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $931013.00    | 0.16%             | 2034-07-21      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| ALPEK SA DE CV                                      | Alpek SAB de CV                                                                     | CUSIP: 020564AE0<br>LEI: 549300PWKJTP62D4IQ66 | Long             | DBT              | CORP              | MX        |    285000 | PA      | $238740.94    | 0.04%             | 2031-02-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Corning Inc                                         | Corning Inc                                                                         | CUSIP: 219350BF1<br>LEI: 549300X2937PB0CJ7I56 | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1683275.46   | 0.29%             | 2057-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                               | Molina Healthcare Inc                                                               | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    321000 | PA      | $296545.85    | 0.05%             | 2030-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CORELOGIC INC                                       | CoreLogic Inc                                                                       | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    657000 | PA      | $506711.25    | 0.09%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                        | Novelis Corp                                                                        | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    835000 | PA      | $777017.60    | 0.13%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL                            | Cheplapharm Arzneimittel GmbH                                                       | CUSIP: 000000000<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $91732.03     | 0.02%             | 2027-02-11      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CLEAN HARBORS INC                                                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -228319 | PA      | $-228318.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK BAHRAIN & KUWAIT                               | BBK BSC                                                                             | CUSIP: 000000000<br>LEI: 549300MCPF5HTBF8ZR90 | Long             | DBT              | CORP              | BH        |    289000 | PA      | $282551.69    | 0.05%             | 2024-07-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                                   | MC Brazil Downstream Trading SARL                                                   | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    320000 | PA      | $256000.00    | 0.04%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                                 | Verisure Holding AB                                                                 | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $89429.35     | 0.02%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LIBERTY BROADBAND CORP                              | Liberty Broadband Corp                                                              | CUSIP: 530307AC1<br>LEI: 549300MIX43II8JLN536 | Long             | DBT              | CORP              | US        |    528000 | PA      | $491040.00    | 0.08%             | 2050-09-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                           | BlackRock Liquidity Funds: T-Fund, Institutional Shares                             | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  21796872 | NS      | $21796872.37  | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritas US Inc.                                     | Veritas US Inc. 2021 USD Term Loan B                                                | CUSIP: 000000000<br>LEI: 549300RFUWCPWS8FQ104 | Long             | LON              | CORP              | US        |    373344 | PA      | $314542.69    | 0.05%             | 2025-09-01      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| SASOL Financing USA LLC                             | Sasol Financing USA LLC                                                             | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    290000 | PA      | $276370.00    | 0.05%             | 2028-09-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                            | Hilton Domestic Operating Co Inc                                                    | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17250.00     | 0.00%             | 2032-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS SUPER                                                            | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -270547 | PA      | $-270546.73   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                     | Sealed Air Corp                                                                     | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     92000 | PA      | $87400.00     | 0.02%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                            | USA Compression Partners LP / USA Compression Finance Corp                          | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    657000 | PA      | $600681.96    | 0.10%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132DNBL6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2013097 | PA      | $2035697.53   | 0.35%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AZURE POWER SOLAR ENERGY                            | Azure Power Solar Energy Pvt Ltd                                                    | CUSIP: 000000000<br>LEI: 549300N77HEXIINE3X94 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $194500.00    | 0.03%             | 2024-12-24      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC Holdings LLC                                                                    | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    508000 | PA      | $432023.52    | 0.07%             | 2030-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                             | Fantasia Holdings Group Co Ltd                                                      | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $15000.00     | 0.00%             | 2022-10-18      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CENTURYLINK INC                                                                 | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -488856 | PA      | $-488856.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Delta TopCo, Inc.                                   | Delta TopCo, Inc. 2020 Term Loan B                                                  | CUSIP: 24780DAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    312777 | PA      | $294344.98    | 0.05%             | 2027-12-01      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                     | CVS Health Corp                                                                     | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1127471.91   | 0.19%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                  | Dominican Republic International Bond                                               | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    271000 | PA      | $221847.38    | 0.04%             | 2049-06-05      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                               | Genesis Energy LP / Genesis Energy Finance Corp                                     | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $138931.20    | 0.02%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                              | Energizer Holdings Inc                                                              | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |     24000 | PA      | $19820.16     | 0.00%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                             | Surgery Center Holdings Inc                                                         | CUSIP: 86881WAD4<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    778000 | PA      | $791716.14    | 0.14%             | 2027-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust          | Bear Stearns Asset Backed Securities I Trust 2006-HE9                               | CUSIP: 07389MAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1224335 | PA      | $1181729.72   | 0.20%             | 2036-11-25      | Floating      | 2.40%                 | No            |                  2 | On Loan: No      |
| POWDR CORP                                          | Powdr Corp                                                                          | CUSIP: 73900LAA9<br>LEI: 549300XIF5ZPMVRIGO50 | Long             | DBT              | CORP              | US        |    461000 | PA      | $474830.00    | 0.08%             | 2025-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS Corp                                                                       | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1465000 | PA      | $1267225.00   | 0.22%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP FORD MOTOR CREDIT COMPANY LLC                                                   | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -347871 | PA      | $-347871.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP TRIVIUM PACKAGING FINANCE BV                                                    | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1522365 | PA      | $-1522365.00  | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                              | Oman Government International Bond                                                  | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    309000 | PA      | $268057.50    | 0.05%             | 2047-03-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SRS DISTRIBUTION INC                                | SRS Distribution Inc                                                                | CUSIP: 78471RAD8<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    723000 | PA      | $625490.44    | 0.11%             | 2029-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP NAVIENT CORP                                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |    -75075 | PA      | $-75075.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-19                                                      | CUSIP: 02151AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    548689 | PA      | $323919.08    | 0.06%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XVII LTD                | Octagon Investment Partners XVII Ltd                                                | CUSIP: 67590GBL2<br>LEI: 54930007Y57X4ONHQV20 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $235532.68    | 0.04%             | 2031-01-25      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| WAMU Asset-Backed Certificates                      | WaMu Asset-Backed Certificates WaMu Series 2007-HE3 Trust                           | CUSIP: 93364EAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6008879 | PA      | $5187011.24   | 0.90%             | 2037-05-25      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                            | Virgin Media Secured Finance PLC                                                    | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    399000 | PA      | $359100.00    | 0.06%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                            | Antero Midstream Partners LP / Antero Midstream Finance Corp                        | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73642.88     | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco, LLC                                 | Radiate Holdco, LLC 2021 Term Loan B                                                | CUSIP: 75025KAH1<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |     74625 | PA      | $70469.13     | 0.01%             | 2026-09-25      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140JM5T5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    409969 | PA      | $417930.93    | 0.07%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                                 | Spectrum Brands Inc                                                                 | CUSIP: 84762LAV7<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    106000 | PA      | $95135.00     | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                       | TransDigm Inc                                                                       | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57710.00     | 0.01%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP UBER TECHNOLOGIES INC                                                           | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -620362 | PA      | $-620362.50   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | BNP Paribas SA                                                                      | CUSIP: 05565ASK0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1750000 | PA      | $1409302.02   | 0.24%             | 2031-02-25      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                            | Camelot Return Merger Sub Inc                                                       | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    269000 | PA      | $250842.50    | 0.04%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS SUPER                                                            | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1418571 | PA      | $-1418571.20  | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                            | Lloyds Banking Group PLC                                                            | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    515000 | PA      | $506051.68    | 0.09%             | 2026-06-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                    | PURCHASED GBP / SOLD USD                                                            | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | GB        |         1 | NC      | $-288.81      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                  | Howard Hughes Corp/The                                                              | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    176000 | PA      | $149039.46    | 0.03%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP CORNING INC                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1709138 | PA      | $-1709137.50  | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| SYNEOS HEALTH INC                                   | Syneos Health Inc                                                                   | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |   1306000 | PA      | $1168896.12   | 0.20%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| AqGen Ascensus, Inc.                                | AqGen Ascensus, Inc. 2021 2nd Lien Term Loan                                        | CUSIP: 000000000<br>LEI: 549300K5MHNFPEU2RK82 | Long             | LON              | CORP              | US        |    231968 | PA      | $209061.39    | 0.04%             | 2029-08-02      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                  | Dominican Republic International Bond                                               | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    260000 | PA      | $240630.00    | 0.04%             | 2029-02-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| thyssenkrupp AG                                     | thyssenkrupp AG                                                                     | CUSIP: 000000000<br>LEI: 549300UDG16DOYUPR330 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $100058.67    | 0.02%             | 2024-02-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | CDS: (CMBX.NA.7.BBB-)                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |   5000000 | OU      | $-957923.20   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAND CANYON UNIVERSITY                             | Grand Canyon University                                                             | CUSIP: 38528UAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    249000 | PA      | $234060.00    | 0.04%             | 2028-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                              | Verizon Communications Inc                                                          | CUSIP: 92343VGC2<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1024605.05   | 0.18%             | 2061-03-22      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                  | Howard Hughes Corp/The                                                              | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    237000 | PA      | $221912.58    | 0.04%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                      | Bombardier Inc                                                                      | CUSIP: 097751AL5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $86500.00     | 0.01%             | 2034-05-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                 | Altice Financing SA                                                                 | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $86363.20     | 0.01%             | 2028-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP CHENIERE ENERGY PARTNERS LP                                                     | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -403926 | PA      | $-403926.25   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BEACON ROOFING SUPPLY IN                            | Beacon Roofing Supply Inc                                                           | CUSIP: 073685AH2<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    128000 | PA      | $113280.00    | 0.02%             | 2029-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Athenahealth, Inc.                                  | Athenahealth, Inc. 2022 Term Loan B                                                 | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   1689367 | PA      | $1607010.19   | 0.28%             | 2029-02-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| ACI Worldwide Inc                                   | ACI Worldwide Inc                                                                   | CUSIP: 004498AB7<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | DBT              | CORP              | US        |    510000 | PA      | $499080.90    | 0.09%             | 2026-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                | Garda World Security Corp                                                           | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    183000 | PA      | $165093.45    | 0.03%             | 2027-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BANCO DE SABADELL SA                                | Banco de Sabadell SA                                                                | CUSIP: 000000000<br>LEI: SI5RG2M0WQQLZCXKRM20 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $85234.86     | 0.01%             | 2031-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| 180 MEDICAL INC                                     | 180 Medical Inc                                                                     | CUSIP: 682357AA6<br>LEI: 254900ZB648OPWVFVX59 | Long             | DBT              | CORP              | US        |    200000 | PA      | $181822.67    | 0.03%             | 2029-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                      | Galaxy XXI CLO Ltd                                                                  | CUSIP: 36320XAM6<br>LEI: 549300BW4412X0TZDD77 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $425486.55    | 0.07%             | 2031-04-20      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                       | PURCHASED USD / SOLD GBP                                                            | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |         1 | NC      | $50315.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                     | Lamb Weston Holdings Inc                                                            | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    373000 | PA      | $363395.25    | 0.06%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                       | Staples, Inc. 7 Year Term Loan                                                      | CUSIP: 855031AQ3<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |     92453 | PA      | $79808.25     | 0.01%             | 2026-04-16      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC                        | RRP FNMA 30YR                                                                       | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Short            | RA               | CORP              | US        |  -3343336 | PA      | $-3343336.23  | -0.58%            |  |  |  | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                       | Cable One Inc                                                                       | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    385000 | PA      | $342168.75    | 0.06%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Murphy Oil Corp                                     | Murphy Oil Corp                                                                     | CUSIP: 626717AJ1<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |      2000 | PA      | $2005.00      | 0.00%             | 2025-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | Level 3 Financing Inc                                                               | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    127000 | PA      | $116083.08    | 0.02%             | 2027-09-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CALPINE COR                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -915915 | PA      | $-915915.00   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                                 | Churchill Downs Inc                                                                 | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    658000 | PA      | $655302.20    | 0.11%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                      | NRG Energy Inc                                                                      | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    958000 | PA      | $972370.00    | 0.17%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CENTURYLINK                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -575825 | PA      | $-575825.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| SRS DISTRIBUTION INC                                | SRS Distribution Inc                                                                | CUSIP: 78471RAB2<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    661000 | PA      | $617968.90    | 0.11%             | 2028-07-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                   | Post Holdings Inc                                                                   | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    464000 | PA      | $416096.64    | 0.07%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                            | Ashton Woods USA LLC / Ashton Woods Finance Co                                      | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $140464.28    | 0.02%             | 2030-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ALLIANT HOLDINGS INTERMEDIATE                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1116990 | PA      | $-1116990.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| LEVIATHAN BOND LTD                                  | Leviathan Bond Ltd                                                                  | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    169086 | PA      | $169540.42    | 0.03%             | 2023-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                                  | Panama Government International Bond                                                | CUSIP: 698299BK9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1015000 | PA      | $918448.13    | 0.16%             | 2030-01-23      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                              | Bank of New York Mellon Corp/The                                                    | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2845000 | PA      | $2478564.00   | 0.43%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                      | Palmer Square Loan Funding 2019-3 Ltd                                               | CUSIP: 69689LAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $734835.15    | 0.13%             | 2027-08-20      | Floating      | 3.58%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                         | Extended Stay America Trust 2021-ESH                                                | CUSIP: 30227FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    327981 | PA      | $316835.58    | 0.05%             | 2038-07-15      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP 1011778 BC UNLIMITED LIABILITY                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -521369 | PA      | $-521368.75   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                             | Mong Duong Finance Holdings BV                                                      | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $203171.88    | 0.04%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                        | Saxon Asset Securities Trust 2007-3                                                 | CUSIP: 80557BAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3885609 | PA      | $3663070.64   | 0.63%             | 2047-09-25      | Floating      | 2.66%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                         | Hologic Inc                                                                         | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |     59000 | PA      | $53467.87     | 0.01%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART                             | Kinder Morgan Energy Partners LP                                                    | CUSIP: 494550BV7<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2517640.88   | 0.43%             | 2024-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US 10YR NOTE (CBT)SEP22                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -498 | NC      | $-1618592.28  | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                            | Antero Midstream Partners LP / Antero Midstream Finance Corp                        | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    263000 | PA      | $256923.39    | 0.04%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BRASKEM IDESA SAPI                                  | Braskem Idesa SAPI                                                                  | CUSIP: 10554NAB4<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |    305000 | PA      | $256871.00    | 0.04%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                             | Gulfport Energy Corp                                                                | CUSIP: 402635AR7<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47227.01     | 0.01%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                        | SM Energy Co                                                                        | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    161000 | PA      | $159390.00    | 0.03%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ALTICE FINANCING SA                                                             | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1202130 | PA      | $-1202130.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                             | Crescent Energy Finance LLC                                                         | CUSIP: 45344LAA1<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    902000 | PA      | $834350.00    | 0.14%             | 2026-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MUELLER WATER PRODUCTS                              | Mueller Water Products Inc                                                          | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |    177000 | PA      | $161310.08    | 0.03%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                               | Civitas Resources Inc                                                               | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    113000 | PA      | $106140.90    | 0.02%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                         | Chemours Co/The                                                                     | CUSIP: 000000000<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189590.22    | 0.03%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                                   | Owens & Minor Inc                                                                   | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11001.76     | 0.00%             | 2030-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | Ford Motor Co                                                                       | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    282000 | PA      | $300330.00    | 0.05%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KOBE US MIDCO 2 INC                                 | Kobe US Midco 2 Inc                                                                 | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    294000 | PA      | $233583.56    | 0.04%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PDC Energy Inc                                      | PDC Energy Inc                                                                      | CUSIP: 69327RAJ0<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    292000 | PA      | $285430.00    | 0.05%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SUNCOR ENERGY INC                                                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -839000 | PA      | $-839000.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CAMELOT FINANCE SA                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -444745 | PA      | $-444745.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| REALOGY GROUP/CO-ISSUER                             | Realogy Group LLC / Realogy Co-Issuer Corp                                          | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $137984.80    | 0.02%             | 2030-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                       | CommScope Inc                                                                       | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    103000 | PA      | $100126.30    | 0.02%             | 2026-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                             | Standard Industries Inc/NJ                                                          | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109250.00    | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                            | Live Nation Entertainment Inc                                                       | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    253000 | PA      | $231434.86    | 0.04%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 156700BB1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    826000 | PA      | $752395.14    | 0.13%             | 2026-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                | Kraft Heinz Foods Co                                                                | CUSIP: 50076QAN6<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    205000 | PA      | $226139.87    | 0.04%             | 2040-02-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP HUB INTERNATIONAL LTD                                                           | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1120395 | PA      | $-1120395.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                    | Vmed O2 UK Financing I PLC                                                          | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    762000 | PA      | $689610.00    | 0.12%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MODERN LAND CHINA CO LTD                            | Modern Land China Co Ltd                                                            | CUSIP: 000000000<br>LEI: 549300PDOU6AR9Z9IN08 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $32000.00     | 0.01%             | 2023-04-11      | Fixed         | 9.80%                 | No            |                  3 | On Loan: No      |
| NEW FORTRESS ENERGY INC                             | New Fortress Energy Inc                                                             | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1134000 | PA      | $1073954.70   | 0.19%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP TENET HEALT                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |    -89310 | PA      | $-89310.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132DV4S1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     16314 | PA      | $16746.46     | 0.00%             | 2049-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings S.A.                      | Intelsat Jackson Holdings S.A. 2021 Exit Term Loan B                                | CUSIP: 000000000<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | LON              | CORP              | LU        |    355395 | PA      | $335532.16    | 0.06%             | 2029-02-01      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                           | Hess Corp                                                                           | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    750000 | PA      | $744616.03    | 0.13%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ALTICE FRANCE HOLDING SA                                                        | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1465570 | PA      | $-1465570.00  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| GTCR AP Finance Inc                                 | GTCR AP Finance Inc                                                                 | CUSIP: 40060QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    351000 | PA      | $345056.67    | 0.06%             | 2027-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ultimate Software Group Inc (The)                   | Ultimate Software Group Inc (The) 2021 2nd Lien Term Loan                           | CUSIP: 000000000<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    556350 | PA      | $531514.54    | 0.09%             | 2027-05-03      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                       | DISH DBS Corp                                                                       | CUSIP: 25470XAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49000 | PA      | $48081.25     | 0.01%             | 2023-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE INTERNATIONAL                         | SCDS: (TTMTIN)                                                                      | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | XX        |      9868 | OU      | $-1477.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    582000 | PA      | $485970.00    | 0.08%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                            | Lindblad Expeditions LLC                                                            | CUSIP: 53523LAA8<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    334000 | PA      | $306394.90    | 0.05%             | 2027-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TEMPUR SEALY INTL INC                               | Tempur Sealy International Inc                                                      | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    287000 | PA      | $247267.72    | 0.04%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US 2YR NOTE (CBT) SEP22                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -516 | NC      | $260132.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CEDAR FAIR/CAN/MAGNUM/MI                            | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op     | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    559000 | PA      | $562843.13    | 0.10%             | 2025-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                             | SBA Communications Corp                                                             | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |    930000 | PA      | $886141.20    | 0.15%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                            | EQT Corp                                                                            | CUSIP: 26884LAK5<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    248000 | PA      | $743256.00    | 0.13%             | 2026-05-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION AUTOMOTIVE                            | Constellation Automotive Financing PLC                                              | CUSIP: 000000000<br>LEI: 254900HVTSU7VICDRM89 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $97423.99     | 0.02%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                             | Stagwell Global LLC                                                                 | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129000 | PA      | $108034.92    | 0.02%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                                 | Boxer Parent Co Inc                                                                 | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    761000 | PA      | $746194.97    | 0.13%             | 2025-10-02      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP VM HOLDINGS SA                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -158500 | PA      | $-158500.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                               | Foundation Building Materials Inc                                                   | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |    139000 | PA      | $106757.56    | 0.02%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP RHP HOTEL PROPERTIES LP                                                         | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -828991 | PA      | $-828991.25   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD             | Goldentree Loan Management US CLO 5 Ltd                                             | CUSIP: 38138DAQ9<br>LEI: 549300O473GD3F35WC55 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $236646.53    | 0.04%             | 2032-10-20      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                   | Herc Holdings Inc                                                                   | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    428000 | PA      | $428000.00    | 0.07%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AFFINITY GAMING                                     | Affinity Gaming                                                                     | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4332.73      | 0.00%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP TRIVIUM PACKAGING FINANCE BV                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1044834 | PA      | $-1044833.75  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190842.00    | 0.03%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                            | EQM Midstream Partners LP                                                           | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $953087.00    | 0.16%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                    | CARLYLE US CLO 2018-4 LTD                                                           | CUSIP: 14315RAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $237060.13    | 0.04%             | 2031-01-20      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| DirecTV Financing, LLC                              | DirecTV Financing, LLC Term Loan                                                    | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1247266 | PA      | $1175024.51   | 0.20%             | 2027-08-02      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                 | Petroleos Mexicanos                                                                 | CUSIP: 71654QDJ8<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    529162 | PA      | $496519.32    | 0.09%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                            | Vertiv Group Corp                                                                   | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    872000 | PA      | $771720.00    | 0.13%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1758803 | PA      | $-1758802.82  | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 31418CYN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    484228 | PA      | $495858.91    | 0.09%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP RAYTHEON TECHNOLOGIES CORPORAT                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -584500 | PA      | $-584500.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                               | CMG Media Corp                                                                      | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    997000 | PA      | $797813.29    | 0.14%             | 2027-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MONITCHEM HOLDCO 3 S.A.                             | Monitchem HoldCo 3 SA                                                               | CUSIP: 000000000<br>LEI: 222100SJHJ1CNJMSW162 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $95581.27     | 0.02%             | 2025-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEACHERS INSUR & ANNUITY                            | Teachers Insurance & Annuity Association of America                                 | CUSIP: 878091BF3<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |    700000 | PA      | $646172.68    | 0.11%             | 2047-05-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                                | Sonic Automotive Inc                                                                | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |     76000 | PA      | $64590.12     | 0.01%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP NFP CORP                                                                        | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1257525 | PA      | $-1257525.00  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                             | Fantasia Holdings Group Co Ltd                                                      | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $15000.00     | 0.00%             | 2023-06-01      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| SYNAPTICS INC                                       | Synaptics Inc                                                                       | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |    287000 | PA      | $250464.90    | 0.04%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                | IHO Verwaltungs GmbH                                                                | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $83808.08     | 0.01%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HPCL-MITTAL ENERGY LTD                              | HPCL-Mittal Energy Ltd                                                              | CUSIP: 000000000<br>LEI: 3358008CSQJBZUGQXP26 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $184000.00    | 0.03%             | 2026-10-22      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| State of Qatar                                      | Qatar Government International Bond                                                 | CUSIP: 74727PBA8<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    478000 | PA      | $497120.00    | 0.09%             | 2029-03-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                                | BWX Technologies Inc                                                                | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    265000 | PA      | $248861.50    | 0.04%             | 2029-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP MPT OPERATING PARTNERSHIP LP                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -344768 | PA      | $-344767.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| STERICYCLE INC                                      | Stericycle Inc                                                                      | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    210000 | PA      | $192009.30    | 0.03%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                | LifePoint Health Inc                                                                | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    459000 | PA      | $354164.40    | 0.06%             | 2029-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                            | Electricite de France SA                                                            | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $169437.44    | 0.03%             | 2027-09-03      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GARDEN SPINCO CORP                                  | Garden Spinco Corp                                                                  | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254000 | PA      | $266707.62    | 0.05%             | 2030-07-20      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                            | Archrock Partners LP / Archrock Partners Finance Corp                               | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202000 | PA      | $188526.65    | 0.03%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                                | FirstKey Homes 2022-SFR1 Trust                                                      | CUSIP: 33768NAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3800000 | PA      | $3586564.26   | 0.62%             | 2039-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                            | Nidda Healthcare Holding GmbH                                                       | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $94801.86     | 0.02%             | 2024-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                        | SM Energy Co                                                                        | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43835.00     | 0.01%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                         | Gartner Inc                                                                         | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    485000 | PA      | $445482.20    | 0.08%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRUST F/1401                                        | Trust Fibra Uno                                                                     | CUSIP: 898324AC2<br>LEI: N/A                  | Long             | DBT              |  | MX        |    235000 | PA      | $219989.38    | 0.04%             | 2026-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AHP HEALTH PARTN                                    | AHP Health Partners Inc                                                             | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    415000 | PA      | $307921.70    | 0.05%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLOCK COMMUNICATIONS INC                            | Block Communications Inc                                                            | CUSIP: 093645AJ8<br>LEI: M5G68A9OHJWIL4SFC742 | Long             | DBT              | CORP              | US        |    168000 | PA      | $147420.00    | 0.03%             | 2028-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                             | Fantasia Holdings Group Co Ltd                                                      | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    430000 | PA      | $32250.00     | 0.01%             | 2022-04-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VERY GRP FUNDING PLC/THE                            | Very Group Funding Plc/The                                                          | CUSIP: 000000000<br>LEI: 9845005CC91D50AF8202 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $95049.28     | 0.02%             | 2026-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                  | Telecom Italia SpA/Milano                                                           | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $150670.57    | 0.03%             | 2029-01-18      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                              | Comstock Resources Inc                                                              | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   1179000 | PA      | $1107694.08   | 0.19%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                            | Celanese US Holdings LLC                                                            | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    355000 | PA      | $360555.58    | 0.06%             | 2027-07-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SCDS: (CMACG)                                                                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     30000 | OU      | $111.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 31418DXK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6886402 | PA      | $6211131.20   | 1.07%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                                | Entegris Escrow Corp                                                                | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   1842000 | PA      | $1773514.44   | 0.31%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                          | FedEx Corp                                                                          | CUSIP: 31428XBE5<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    500000 | PA      | $484071.82    | 0.08%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US 10YR ULTRA FUT SEP22                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -293 | NC      | $-465536.86   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                                    | PURCHASED USD / SOLD EUR                                                            | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $156.27       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | Venture Global Calcasieu Pass LLC                                                   | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1123000 | PA      | $1035282.47   | 0.18%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TICP CLO Ltd                                        | TICP CLO VIII Ltd                                                                   | CUSIP: 87248WAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $235028.65    | 0.04%             | 2034-10-20      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                  | Union Pacific Corp                                                                  | CUSIP: 907818FT0<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    275000 | PA      | $237009.74    | 0.04%             | 2041-05-20      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                            | Archrock Partners LP / Archrock Partners Finance Corp                               | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1057000 | PA      | $956489.87    | 0.17%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                               | United Airlines, Inc. 2021 Term Loan B                                              | CUSIP: 90932RAJ3<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |    819625 | PA      | $787454.72    | 0.14%             | 2028-04-21      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                              | Telecom Italia Capital SA                                                           | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    137000 | PA      | $113625.06    | 0.02%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                            | Compass Group Diversified Holdings LLC                                              | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    273000 | PA      | $240927.96    | 0.04%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EMBRAER NETHERLANDS FINA                            | Embraer Netherlands Finance BV                                                      | CUSIP: 29082HAC6<br>LEI: 724500PBR8LR26XBSP67 | Long             | DBT              | CORP              | NL        |    269000 | PA      | $269336.25    | 0.05%             | 2028-01-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| HPS LOAN MANAGEMENT 8-2016, LTD                     | HPS Loan Management 8-2016 Ltd                                                      | CUSIP: 40437JAA5<br>LEI: 54930040W4QDWLO30S73 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $825449.12    | 0.14%             | 2030-07-20      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                    | CIFC Funding 2016-I Ltd                                                             | CUSIP: 17180TBC5<br>LEI: 54930076OPDXR0U68E20 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $712842.68    | 0.12%             | 2031-10-21      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                      | PetSmart, Inc. 2021 Term Loan B                                                     | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     72850 | PA      | $70087.48     | 0.01%             | 2028-02-11      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                            | Hilton Domestic Operating Co Inc                                                    | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1024668.75   | 0.18%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                    | Ziggo Bond Co BV                                                                    | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    295000 | PA      | $251487.50    | 0.04%             | 2030-02-28      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CENTURION BIDCO SPA                                 | Centurion Bidco SpA                                                                 | CUSIP: 000000000<br>LEI: 815600440B4998FCA515 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $93827.47     | 0.02%             | 2026-09-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP NORTHERN OIL AND GAS INC                                                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -635160 | PA      | $-635160.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP NORTHWEST FIBER LLC                                                             | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -187668 | PA      | $-187667.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                             | Aeropuertos Dominicanos Siglo XXI SA                                                | CUSIP: 007866AC0<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    274000 | PA      | $250881.25    | 0.04%             | 2029-03-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140HQBL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22792 | PA      | $23291.29     | 0.00%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP HESS CORPORATION                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -695625 | PA      | $-695625.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                               | eG Global Finance PLC                                                               | CUSIP: 000000000<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    142000 | PA      | $134565.52    | 0.02%             | 2025-10-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                            | Chobani LLC / Chobani Finance Corp Inc                                              | CUSIP: 17027NAA0<br>LEI: 549300Q10QN3IXF3HZ69 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1034687.50   | 0.18%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                        | ADT Security Corp/The                                                               | CUSIP: 00101JAH9<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15883.52     | 0.00%             | 2023-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                            | Univision Communications Inc                                                        | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    166000 | PA      | $168093.26    | 0.03%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PECF USS Intermediate Holding III Corporation       | PECF USS Intermediate Holding III Corporation Term Loan B                           | CUSIP: 69291LAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    968786 | PA      | $884017.10    | 0.15%             | 2028-12-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | Frontier Communications Holdings LLC                                                | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    939000 | PA      | $882415.86    | 0.15%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                         | Rad CLO 6 Ltd                                                                       | CUSIP: 48661KAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $468107.15    | 0.08%             | 2033-01-20      | Floating      | 10.24%                | No            |                  2 | On Loan: No      |
| Credito Real Sab DE CV Sofom ENR                    | Credito Real Sab DE CV Sofom ENR Term Loan B                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | MX        |     56000 | PA      | $1680.00      | 0.00%             | 2023-02-17      | Floating      | 5.25%                 | No            |                  3 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-J7                                                      | CUSIP: 23244FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3328838 | PA      | $2428048.49   | 0.42%             | 2046-11-20      | Floating      | 3.21%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                            | Charter Communications Operating LLC / Charter Communications Operating Capital     | CUSIP: 161175BA1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3012442.08   | 0.52%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP PANAMA REPUBLIC OF (GOVERNMENT                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -436751 | PA      | $-436751.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                   | HSBC Holdings PLC                                                                   | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    695000 | PA      | $666735.48    | 0.12%             | 2027-05-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                                | OI European Group BV                                                                | CUSIP: 000000000<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $94809.01     | 0.02%             | 2025-02-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                        | Centene Corp                                                                        | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1363000 | PA      | $1169331.33   | 0.20%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 02156LAE1<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    201000 | PA      | $170265.09    | 0.03%             | 2029-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SCC POWER PLC                                       | SCC Power PLC                                                                       | CUSIP: 78397YAC6<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    351147 | PA      | $34591.30     | 0.01%             | 2032-05-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                            | Catalent Pharma Solutions Inc                                                       | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    341000 | PA      | $341269.39    | 0.06%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                             | Royal Caribbean Cruises Ltd                                                         | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    154000 | PA      | $164963.26    | 0.03%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |    140000 | PA      | $132305.91    | 0.02%             | 2025-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                            | Science Applications International Corp                                             | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    377000 | PA      | $358636.05    | 0.06%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    214000 | PA      | $208048.66    | 0.04%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                        | Arconic Corp                                                                        | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    361000 | PA      | $363628.61    | 0.06%             | 2025-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| F-BRASILE SPA/F-BRASILE                             | F-Brasile SpA / F-Brasile US LLC                                                    | CUSIP: 30191BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    464000 | PA      | $366560.00    | 0.06%             | 2026-08-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                            | American Airlines Inc/AAdvantage Loyalty IP Ltd                                     | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1484529 | PA      | $1421436.52   | 0.25%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KASIKORNBANK PCL HK                                 | Kasikornbank PCL/Hong Kong                                                          | CUSIP: 000000000<br>LEI: 5493004COSQ54937AW41 | Long             | DBT              | CORP              | TH        |    246000 | PA      | $232054.88    | 0.04%             | 2025-10-14      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | EnLink Midstream Partners LP                                                        | CUSIP: 29336UAC1<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    274000 | PA      | $213115.25    | 0.04%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| LIMA METRO LINE 2 FIN LT                            | Lima Metro Line 2 Finance Ltd                                                       | CUSIP: 532522AA7<br>LEI: 5493009BVQNQT1UKQ352 | Long             | DBT              | CORP              | KY        |   1920246 | PA      | $1872240.30   | 0.32%             | 2034-07-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                               | GFL Environmental Inc                                                               | CUSIP: 36168QAP9<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    403000 | PA      | $359677.50    | 0.06%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OP SERVICIOS MEGA                                   | Operadora de Servicios Mega SA de CV Sofom ER                                       | CUSIP: 68373NAA3<br>LEI: 4469000001BP4DCM0P31 | Long             | DBT              | CORP              | MX        |    501000 | PA      | $322143.00    | 0.06%             | 2025-02-11      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -370879 | PA      | $-370878.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                             | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl        | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    710000 | PA      | $619475.00    | 0.11%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                            | OZLM XXI Ltd                                                                        | CUSIP: 67112EAA1<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $213171.15    | 0.04%             | 2031-01-20      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN                                  | Bahrain Government International Bond                                               | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |    200000 | PA      | $168037.50    | 0.03%             | 2032-09-16      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                            | Performance Food Group Inc                                                          | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    502000 | PA      | $446077.20    | 0.08%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HOME POINT CAPITAL INC                              | Home Point Capital Inc                                                              | CUSIP: 43734LAA4<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |    247000 | PA      | $169698.88    | 0.03%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GDC1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    433000 | PA      | $428273.73    | 0.07%             | 2024-09-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                          | Air Canada 2021 Term Loan B                                                         | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |    394116 | PA      | $378773.06    | 0.07%             | 2028-08-11      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                                | Carpenter Technology Corp                                                           | CUSIP: 144285AL7<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     57000 | PA      | $52975.18     | 0.01%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                            | Western Midstream Operating LP                                                      | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     43000 | PA      | $37708.49     | 0.01%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/CORP                             | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                    | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268000 | PA      | $248570.00    | 0.04%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                   | Service Corp International/US                                                       | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    341000 | PA      | $303063.75    | 0.05%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                 | Clarivate Science Holdings Corp                                                     | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    557000 | PA      | $492945.00    | 0.09%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Chobani, LLC                                        | Chobani, LLC 2020 Term Loan B                                                       | CUSIP: 17026YAH2<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |     61497 | PA      | $57269.39     | 0.01%             | 2027-10-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TierPoint, LLC                                      | TierPoint, LLC 2021 Term Loan                                                       | CUSIP: 88651BAL6<br>LEI: 549300L53HPEWRGN5U22 | Long             | LON              | CORP              | US        |     63876 | PA      | $60735.50     | 0.01%             | 2026-05-05      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP CHARTER COMMUNICATIONS OPERATI                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2441250 | PA      | $-2441250.00  | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                 | Resideo Funding Inc                                                                 | CUSIP: 76119LAB7<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     77000 | PA      | $65626.33     | 0.01%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP INDEPENDENCE ENERGY FINANCE LL                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -607448 | PA      | $-607447.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| STONEGATE PUB FIN                                   | Stonegate Pub Co Financing 2019 PLC                                                 | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $115112.53    | 0.02%             | 2025-07-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599DB8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     81000 | PA      | $85001.40     | 0.01%             | 2024-07-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Grab Holdings Inc                                   | Grab Holdings Inc Term Loan B                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |    148386 | PA      | $133270.22    | 0.02%             | 2026-01-29      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                    | Peruvian Government International Bond                                              | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    176000 | PA      | $150832.00    | 0.03%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | Sirius XM Radio Inc                                                                 | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    627000 | PA      | $590991.39    | 0.10%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                            | Consensus Cloud Solutions Inc                                                       | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     91000 | PA      | $83720.00     | 0.01%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CENTRAIS ELETRICAS BRASI                            | Centrais Eletricas Brasileiras SA                                                   | CUSIP: 15236FAA8<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | CORP              | BR        |    200000 | PA      | $191500.00    | 0.03%             | 2025-02-04      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP DCP MIDSTREAM LLC                                                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -257592 | PA      | $-257592.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Matador Resources Co                                | Matador Resources Co                                                                | CUSIP: 576485AE6<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   1251000 | PA      | $1272892.50   | 0.22%             | 2026-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                        | Enbridge Inc                                                                        | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    690000 | PA      | $649911.00    | 0.11%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RENK AG FRANKFURT                                   | Renk AG/Frankfurt am Main                                                           | CUSIP: 000000000<br>LEI: 894500DAJJ2W78HOJY11 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $95561.65     | 0.02%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLACK KNIGHT INFOSERV LL                            | Black Knight InfoServ LLC                                                           | CUSIP: 092174AA9<br>LEI: 549300H5PS5C68DAUX66 | Long             | DBT              | CORP              | US        |    501000 | PA      | $463425.00    | 0.08%             | 2028-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                           | Block Inc                                                                           | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   2304000 | PA      | $1992960.00   | 0.34%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                            | RHP Hotel Properties LP / RHP Finance Corp                                          | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |    227000 | PA      | $206997.75    | 0.04%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Teleflex Inc                                        | Teleflex Inc                                                                        | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98347.00     | 0.02%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                    | AMC Networks Inc                                                                    | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    157000 | PA      | $138108.61    | 0.02%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | Ford Motor Co                                                                       | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    797000 | PA      | $665495.00    | 0.11%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3131Y7PC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    177150 | PA      | $182108.15    | 0.03%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP STAPLES INC                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -331380 | PA      | $-331380.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| SRS DISTRIBUTION INC                                | SRS Distribution Inc                                                                | CUSIP: 78471RAC0<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    629000 | PA      | $565722.60    | 0.10%             | 2029-07-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| AMC ENTERTAINMENT HLDGS                             | AMC Entertainment Holdings Inc                                                      | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |    187000 | PA      | $165941.93    | 0.03%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VS Buyer, LLC                                       | VS Buyer, LLC Term Loan B                                                           | CUSIP: 91834WAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91885 | PA      | $89473.02     | 0.02%             | 2027-02-28      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                        | Ecopetrol SA                                                                        | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    370000 | PA      | $302475.00    | 0.05%             | 2031-11-02      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP                               | Playtika Holding Corp                                                               | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |    501000 | PA      | $449417.04    | 0.08%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING                            | NextEra Energy Operating Partners LP                                                | CUSIP: 65342QAK8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    205000 | PA      | $203107.85    | 0.04%             | 2024-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP TELECOM ITALIA CAPITAL SA                                                       | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -367716 | PA      | $-367716.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                   | HSBC Holdings PLC                                                                   | CUSIP: 404280CN7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $166960.00    | 0.03%             | 2030-12-17      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                 | Buckeye Partners LP                                                                 | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    117000 | PA      | $85995.00     | 0.01%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                               | Molina Healthcare Inc                                                               | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    152000 | PA      | $146300.00    | 0.03%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 3132A5KC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    828890 | PA      | $848533.35    | 0.15%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                 | Buckeye Partners LP                                                                 | CUSIP: 118230AT8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    345000 | PA      | $332925.00    | 0.06%             | 2025-03-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP TRIUMPH GROUP INC                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -924444 | PA      | $-924443.75   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP TELECOM ITALIA SPA                                                              | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -158318 | PA      | $-158317.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                              | Clearway Energy Operating LLC                                                       | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    116000 | PA      | $112230.00    | 0.02%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CCO HOLDINGS LLC                                                                | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -669735 | PA      | $-669735.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| VIASAT INC                                          | Viasat Inc                                                                          | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |     87000 | PA      | $82032.30     | 0.01%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GDA5<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    910000 | PA      | $896350.00    | 0.15%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140Q9NX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27112 | PA      | $27780.18     | 0.00%             | 2048-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                 | Starwood Mortgage Residential Trust 2020-3                                          | CUSIP: 85573MAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1057000 | PA      | $1017764.90   | 0.18%             | 2065-04-25      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                           | Sotheby's                                                                           | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |   1297000 | PA      | $1248022.80   | 0.22%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                              | Sunoco LP / Sunoco Finance Corp                                                     | CUSIP: 86765LAN7<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    147000 | PA      | $140658.42    | 0.02%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                               | Guatemala Government Bond                                                           | CUSIP: 401494AU3<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    401000 | PA      | $326313.75    | 0.06%             | 2041-10-07      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                          | Arcosa Inc                                                                          | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    477000 | PA      | $423229.55    | 0.07%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 31418EE55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  65693054 | PA      | $66071775.57  | 11.41%            | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP LIFEPOINT HEALTH INC                                                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -114488 | PA      | $-114487.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP KRAFT HEINZ                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -889034 | PA      | $-889033.75   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BPM SPA                                       | Banco BPM SpA                                                                       | CUSIP: 000000000<br>LEI: 815600E4E6DCD2D25E30 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $84913.52     | 0.01%             | 2031-06-29      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                 | Station Casinos LLC                                                                 | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    354000 | PA      | $308964.12    | 0.05%             | 2031-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TransDigm Inc                                                                       | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    825000 | PA      | $854881.50    | 0.15%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Renaissance Holding Corp.                           | Renaissance Holding Corp. 2018 1st Lien Term Loan                                   | CUSIP: 75972JAB0<br>LEI: 549300UKKEC0Y6TXNF09 | Long             | LON              | CORP              | US        |     17859 | PA      | $17211.72     | 0.00%             | 2025-05-30      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                                        | Yuzhou Group Holdings Co Ltd                                                        | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    205000 | PA      | $14350.00     | 0.00%             | 2026-01-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                               | Guatemala Government Bond                                                           | CUSIP: 401494AS8<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $197662.50    | 0.03%             | 2032-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ENEL FINANCE INTERNATIONAL NV                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1107812 | PA      | $-1107812.50  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| Liberty Global PLC                                  | Liberty Global PLC                                                                  | CUSIP: 000000000<br>LEI: 549300BSGXG3QLIQYT84 | Long             | EC               | CORP              | GB        |       247 | NS      | $5374.72      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAE5<br>LEI: N/A                  | Long             | DBT              |  | US        |    342000 | PA      | $312235.74    | 0.05%             | 2030-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1314000 | PA      | $1168040.88   | 0.20%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KONTOOR BRANDS INC                                  | Kontoor Brands Inc                                                                  | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    126000 | PA      | $106251.98    | 0.02%             | 2029-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MASTR Asset Backed Securities Trust                 | Mastr Asset Backed Securities Trust 2006-HE2                                        | CUSIP: 57644UAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7422030 | PA      | $3117587.54   | 0.54%             | 2036-06-25      | Floating      | 2.56%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP COMSTOCK RESOURCES INC                                                          | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -547545 | PA      | $-547545.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP DUKE ENERGY CORP                                                                | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1363125 | PA      | $-1363125.00  | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    570000 | PA      | $562857.90    | 0.10%             | 2027-02-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                    | APi Group DE Inc                                                                    | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    168000 | PA      | $139856.64    | 0.02%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                        | Navient Corp                                                                        | CUSIP: 78442FET1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104453.48    | 0.02%             | 2024-03-25      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP LIMA METRO                                                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3710000 | PA      | $-3710000.00  | -0.64%            |  |  |  | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                             | DCP Midstream Operating LP                                                          | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    323000 | PA      | $319770.00    | 0.06%             | 2037-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                            | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed      | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    364000 | PA      | $332317.44    | 0.06%             | 2029-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                            | Western Midstream Operating LP                                                      | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    934000 | PA      | $835911.32    | 0.14%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ZHENRO PROPERTIES GROUP                             | Zhenro Properties Group Ltd                                                         | CUSIP: 000000000<br>LEI: 549300I66TVJEL841P38 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $12000.00     | 0.00%             | 2024-04-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KWG GROUP HOLDINGS                                  | KWG Group Holdings Ltd                                                              | CUSIP: 000000000<br>LEI: 549300LK82ZOM9ZE7H90 | Long             | DBT              | CORP              | KY        |    390000 | PA      | $48750.00     | 0.01%             | 2024-03-05      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC                            | Ken Garff Automotive LLC                                                            | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    156000 | PA      | $128658.58    | 0.02%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | EnLink Midstream Partners LP                                                        | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158315.20    | 0.03%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                             | Shell International Finance BV                                                      | CUSIP: 822582BF8<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $443825.65    | 0.08%             | 2045-05-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                              | Sable International Finance Ltd                                                     | CUSIP: 785712AG5<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $176500.00    | 0.03%             | 2027-09-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                     | Yum! Brands Inc                                                                     | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     49000 | PA      | $48387.50     | 0.01%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CENTURYLINK INC                                                                 | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -686612 | PA      | $-686612.50   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO / FINANCE                            | Radiate Holdco LLC / Radiate Finance Inc                                            | CUSIP: 75026JAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2274000 | PA      | $1804350.78   | 0.31%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Carrington Mortgage Loan Trust                      | Carrington Mortgage Loan Trust Series 2006-FRE2                                     | CUSIP: 14454AAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3090628 | PA      | $2552657.14   | 0.44%             | 2036-10-25      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| CTR PARTNERSHIP/CARETRST                            | CTR Partnership LP / CareTrust Capital Corp                                         | CUSIP: 126458AE8<br>LEI: N/A                  | Long             | DBT              |  | US        |    208000 | PA      | $183780.48    | 0.03%             | 2028-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                             | Fremont Home Loan Trust 2006-A                                                      | CUSIP: 35729RAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4286492 | PA      | $2635776.94   | 0.45%             | 2036-05-25      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| Verscend Escrow Corp                                | Verscend Escrow Corp                                                                | CUSIP: 92535WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2007000 | PA      | $2015941.19   | 0.35%             | 2026-08-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solut                              | Mauser Packaging Solutions Holding Co                                               | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1018788.45   | 0.18%             | 2024-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                   | Iliad Holding SASU                                                                  | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    608000 | PA      | $583591.84    | 0.10%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp                                 | SoftBank Group Corp                                                                 | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $88662.81     | 0.02%             | 2025-09-19      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC                        | RRP FHLMC 30YR UMBS SUPER                                                           | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Short            | RA               | CORP              | US        |  -5361353 | PA      | $-5361353.26  | -0.93%            |  |  |  | No            |                  2 | On Loan: No      |
| FAURECIA                                            | Faurecia SE                                                                         | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $86874.22     | 0.01%             | 2027-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TELENET FINANCE LUX NOTE                            | Telenet Finance Luxembourg Notes Sarl                                               | CUSIP: 000000000<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $360700.00    | 0.06%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US                               | Canpack SA / Canpack US LLC                                                         | CUSIP: 13805AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    211000 | PA      | $189702.19    | 0.03%             | 2025-11-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Hub International Limited                           | Hub International Limited 2021 Term Loan B                                          | CUSIP: 44332EAU0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    125525 | PA      | $122622.92    | 0.02%             | 2025-04-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP FORD MOTOR CREDIT COMPANY LLC                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -647701 | PA      | $-647701.25   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| VIASAT INC                                          | Viasat Inc                                                                          | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    410000 | PA      | $360800.00    | 0.06%             | 2025-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                               | GFL Environmental Inc                                                               | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    567000 | PA      | $511536.06    | 0.09%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EMPRESAS PUBLIC MEDELLIN                            | Empresas Publicas de Medellin ESP                                                   | CUSIP: 29246BAE8<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |    309000 | PA      | $244264.50    | 0.04%             | 2029-07-18      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CARNIVAL CORP                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -785722 | PA      | $-785722.50   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 31329KAJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6094 | PA      | $6278.53      | 0.00%             | 2023-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP REPUBLIC OF COLOMBIA                                                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -411412 | PA      | $-411412.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                | Clear Channel Outdoor Holdings, Inc. Term Loan B                                    | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1113772 | PA      | $1013677.33   | 0.17%             | 2026-08-21      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 31329PTF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11132 | PA      | $11413.16     | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | Uber Technologies Inc                                                               | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1157000 | PA      | $1171462.50   | 0.20%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| POWERLONG REAL ESTATE                               | Powerlong Real Estate Holdings Ltd                                                  | CUSIP: 000000000<br>LEI: 549300R3K12EPXCGDP22 | Long             | DBT              | CORP              | KY        |         0 | PA      | $0.00         | 0.00%             | 2022-11-08      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                              | Rockford Tower CLO 2017-2 Ltd                                                       | CUSIP: 77340GAQ4<br>LEI: 549300G18KVCW7VUKI86 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $473388.75    | 0.08%             | 2029-10-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services, Inc.           | Sedgwick Claims Management Services, Inc. 2020 Term Loan B3                         | CUSIP: 81527CAN7<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    198790 | PA      | $193422.67    | 0.03%             | 2026-09-03      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                        | Navient Corp                                                                        | CUSIP: 63938CAE8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     91000 | PA      | $92224.77     | 0.02%             | 2023-09-25      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ELASTIC NV                                          | Elastic NV                                                                          | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    481000 | PA      | $428267.97    | 0.07%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP ALLSTATE CORPORATION (THE)                                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1667500 | PA      | $-1667500.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP RADIATE HOLDCO LLC                                                              | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -426855 | PA      | $-426855.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                    | CSC Holdings LLC                                                                    | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    368000 | PA      | $355708.80    | 0.06%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                    | Paramount Global                                                                    | CUSIP: 92553PAU6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    645000 | PA      | $623788.43    | 0.11%             | 2043-09-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ABERTIS FINANCE BV                                  | Abertis Infraestructuras Finance BV                                                 | CUSIP: 000000000<br>LEI: 5493007WHKI5H75YJ358 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $91094.27     | 0.02%             | 2025-11-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                            | Ziggo BV                                                                            | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    217000 | PA      | $200323.55    | 0.03%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                            | Brookfield Residential Properties Inc / Brookfield Residential US LLC               | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    539000 | PA      | $417662.64    | 0.07%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Scholar Funding Trust                               | SCHOLAR FUNDING TRUST EQUITY                                                        | CUSIP: 80705X107<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        42 | PA      | $1089882.94   | 0.19%             | N/A             | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ADLER GROUP SA                                      | ADLER Group SA                                                                      | CUSIP: 000000000<br>LEI: 391200OYYFJ3DWAMEC69 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $109359.32    | 0.02%             | 2026-11-13      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Murphy Oil Corp                                     | Murphy Oil Corp                                                                     | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     35000 | PA      | $27475.00     | 0.00%             | 2042-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                            | Saudi Government International Bond                                                 | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    524000 | PA      | $461775.00    | 0.08%             | 2033-02-02      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Magenta Buyer LLC                                   | Magenta Buyer LLC 2021 USD 2nd Lien Term Loan                                       | CUSIP: 55910RAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    530000 | PA      | $499525.00    | 0.09%             | 2029-07-27      | Floating      | 10.55%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                                         | Vistra Operations Co LLC                                                            | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17721.90     | 0.00%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ROYAL CARIBBEAN CRUISES LTD                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -207086 | PA      | $-207086.25   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                               | Mineral Resources Ltd                                                               | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    165000 | PA      | $167062.50    | 0.03%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                        | UBS Group AG                                                                        | CUSIP: 902613AG3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1750000 | PA      | $1509278.42   | 0.26%             | 2026-06-02      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RED SUN PROPERTIES GRP                              | Redsun Properties Group Ltd                                                         | CUSIP: 000000000<br>LEI: 549300TYWIIKAOK07L47 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $18000.00     | 0.00%             | 2022-10-03      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-4CB                                                     | CUSIP: 02148FAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1752702 | PA      | $1365636.79   | 0.24%             | 2037-04-25      | Floating      | 2.61%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT                             | United Airlines 2020-1 Class A Pass Through Trust                                   | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    739207 | PA      | $745279.97    | 0.13%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CENTENE CORPORATION                                                             | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1010324 | PA      | $-1010323.75  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| SHRIRAM TRANSPORT FIN                               | Shriram Transport Finance Co Ltd                                                    | CUSIP: 000000000<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |    320000 | PA      | $317600.00    | 0.05%             | 2022-10-24      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                            | Clear Channel Outdoor Holdings Inc                                                  | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1015000 | PA      | $817075.00    | 0.14%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Iron Mountain UK PLC                                | Iron Mountain UK PLC                                                                | CUSIP: 000000000<br>LEI: 213800OT3BUEZ7P7XW26 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $109099.40    | 0.02%             | 2025-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences Inc                             | PRA Health Sciences Inc                                                             | CUSIP: 45569KAA1<br>LEI: 549300R1HR1VWWHIAK47 | Long             | DBT              | CORP              | US        |    563000 | PA      | $533211.67    | 0.09%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                     | AdaptHealth LLC                                                                     | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $91798.03     | 0.02%             | 2028-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                             | Central Garden & Pet Co                                                             | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    244000 | PA      | $211529.30    | 0.04%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ABJA Investment Co                                  | ABJA Investment Co Pte Ltd                                                          | CUSIP: 000000000<br>LEI: 254900E6OE5YJ9WCCU19 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $251875.00    | 0.04%             | 2024-07-31      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                            | Clarios Global LP / Clarios US Finance Co                                           | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1673000 | PA      | $1683288.95   | 0.29%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-40T1                                                    | CUSIP: 02148KAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2271146 | PA      | $317585.69    | 0.05%             | 2036-12-25      | Floating      | 2.66%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | Southwestern Energy Co                                                              | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    296000 | PA      | $289340.00    | 0.05%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SPCM SA                                             | SPCM SA                                                                             | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $170500.00    | 0.03%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                    | Allied Universal Holdco LLC / Allied Universal Finance Corp                         | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    812000 | PA      | $743434.72    | 0.13%             | 2027-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                   | Service Corp International/US                                                       | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    454000 | PA      | $417700.43    | 0.07%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                                 | Spectrum Brands Inc                                                                 | CUSIP: 84762LAW5<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    198000 | PA      | $178372.42    | 0.03%             | 2030-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              |  | US        |     23000 | PA      | $21616.69     | 0.00%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HoldCo LLC                                                                 | CUSIP: 50221DAA7<br>LEI: 254900FPK7P5WNA66Y10 | Long             | DBT              | CORP              | US        |    144000 | PA      | $123467.04    | 0.02%             | 2029-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZF FINANCE GMBH                                     | ZF Finance GmbH                                                                     | CUSIP: 000000000<br>LEI: 5493001N9T6QDCCXB426 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $85979.52     | 0.01%             | 2027-05-06      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP MICROSTRATEGY INCORPORATED                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -304705 | PA      | $-304705.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL INTL BV                               | Clear Channel International BV                                                      | CUSIP: 18452MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    507000 | PA      | $502183.50    | 0.09%             | 2025-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                 | Medline Borrower LP                                                                 | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1596000 | PA      | $1442385.00   | 0.25%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-7CB                                                     | CUSIP: 12668BYM9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1459066 | PA      | $824811.27    | 0.14%             | 2036-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                        | ams-OSRAM AG                                                                        | CUSIP: 000000000<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    100000 | PA      | $95868.26     | 0.02%             | 2025-07-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited               | Digicel International Finance Limited 2017 Term Loan B                              | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | LC        |    705832 | PA      | $638778.05    | 0.11%             | 2024-05-28      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac Pool                                                                    | CUSIP: 31339U3C2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136487 | PA      | $139444.73    | 0.02%             | 2049-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | Level 3 Financing Inc                                                               | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    487000 | PA      | $402992.50    | 0.07%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OT MERGER CORP                                      | OT Merger Corp                                                                      | CUSIP: 688777AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $102900.00    | 0.02%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                            | Charles River Laboratories International Inc                                        | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    125000 | PA      | $114364.56    | 0.02%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | SWP: USD 1.545000 08-OCT-2031                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  28600000 | OU      | $-2642120.18  | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                            | MPH Acquisition Holdings LLC                                                        | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    280000 | PA      | $260400.00    | 0.04%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SWITCH LTD                                          | Switch Ltd                                                                          | CUSIP: 87105NAA8<br>LEI: 5493002D70VTFFLT8L43 | Long             | DBT              | CORP              | US        |    399000 | PA      | $399127.68    | 0.07%             | 2028-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Barracuda Networks, Inc.                            | Barracuda Networks, Inc. 2020 2nd Lien Term Loan                                    | CUSIP: 06832EAG5<br>LEI: 549300CXGRZWNMPU8080 | Long             | LON              | CORP              | US        |    172096 | PA      | $172095.75    | 0.03%             | 2028-10-30      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| FASTIGHETS AB BALDER                                | Fastighets AB Balder                                                                | CUSIP: 000000000<br>LEI: 549300GHKJCEZOAEUU82 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $69499.38     | 0.01%             | 2081-06-02      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                 | PURCHASED USD / SOLD GBP                                                            | CUSIP: 000000000<br>LEI: RR3QWICWWIPCS8A4S074 | N/A              | DFE              |  | US        |         1 | NC      | $57981.83     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AHEAD DB HOLDINGS LLC                               | Ahead DB Holdings LLC                                                               | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |    190000 | PA      | $175387.10    | 0.03%             | 2028-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| KBR INC                                             | KBR Inc                                                                             | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |    268000 | PA      | $241870.00    | 0.04%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                             | Royal Caribbean Cruises Ltd                                                         | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    365000 | PA      | $282875.00    | 0.05%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FREEPORT LNG INVESTMENTS, LLLP                      | Freeport LNG Investments, LLLP Term Loan B                                          | CUSIP: 35670CAB4<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    323801 | PA      | $303158.44    | 0.05%             | 2028-12-21      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    231000 | PA      | $233695.77    | 0.04%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (ADLERR)                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     10000 | OU      | $-2570.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                                | RLJ Lodging Trust LP                                                                | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |    173000 | PA      | $162282.65    | 0.03%             | 2026-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ROCKCLIFF ENERGY II LLC                             | Rockcliff Energy II LLC                                                             | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    479000 | PA      | $462699.63    | 0.08%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                           | IQVIA Inc                                                                           | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    548000 | PA      | $545775.38    | 0.09%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CHESAPEAKE ENERGY CORPORATION                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -579250 | PA      | $-579250.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| HUSKY III HOLDING LTD                               | Husky III Holding Ltd                                                               | CUSIP: 44810RAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    587000 | PA      | $571387.75    | 0.10%             | 2025-02-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/Community Health Systems Inc                                                    | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    475000 | PA      | $422156.25    | 0.07%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MAF SUKUK LTD                                       | MAF Sukuk Ltd                                                                       | CUSIP: 000000000<br>LEI: 549300IS9H0W5N2N4K34 | Long             | DBT              | CORP              | KY        |    325000 | PA      | $324959.38    | 0.06%             | 2029-05-14      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                      | Lowe's Cos Inc                                                                      | CUSIP: 548661CX3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    400000 | PA      | $388634.58    | 0.07%             | 2042-04-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP NRG ENERGY INC                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -871780 | PA      | $-871780.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP LCPR SENIOR SECURED FINANCING                                                   | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -510875 | PA      | $-510875.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H                            | SCIL IV LLC / SCIL USA Holdings LLC                                                 | CUSIP: 78397UAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $255152.33    | 0.04%             | 2026-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                             | SBA Communications Corp                                                             | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    680000 | PA      | $595000.00    | 0.10%             | 2029-02-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                     | Sabre GLBL Inc. 2021 Term Loan B2                                                   | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    134551 | PA      | $128260.52    | 0.02%             | 2027-12-17      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                 | CDW LLC / CDW Finance Corp                                                          | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     93000 | PA      | $79978.14     | 0.01%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                             | Standard Industries Inc/NJ                                                          | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    384000 | PA      | $312249.60    | 0.05%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US ULTRA BOND CBT SEP22                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -218 | NC      | $44553.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                              | Chesapeake Energy Corp                                                              | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     53000 | PA      | $53271.89     | 0.01%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate, LLC                  | Alliant Holdings Intermediate, LLC 2018 Term Loan B                                 | CUSIP: 01881UAE5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |    247157 | PA      | $238662.66    | 0.04%             | 2025-05-09      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| KLABIN AUSTRIA GMBH                                 | Klabin Austria GmbH                                                                 | CUSIP: 49836AAC8<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    315000 | PA      | $257418.00    | 0.04%             | 2031-01-12      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WHITE CAP PARENT LLC                                | White Cap Parent LLC                                                                | CUSIP: 96351CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268000 | PA      | $221487.58    | 0.04%             | 2026-03-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAL9<br>LEI: N/A                  | Long             | DBT              |  | US        |     64000 | PA      | $58431.36     | 0.01%             | 2029-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                | Aramark Services Inc                                                                | CUSIP: 038522AP3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    242000 | PA      | $241342.97    | 0.04%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SP FINCO LLC                                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -410602 | PA      | $-410602.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                      | NRG Energy Inc                                                                      | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    171000 | PA      | $146158.83    | 0.03%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                            | Virginia Electric and Power Co                                                      | CUSIP: 927804FB5<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    750000 | PA      | $856539.59    | 0.15%             | 2037-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                            | Albion Financing 1 SARL / Aggreko Holdings Inc                                      | CUSIP: 013304AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    222000 | PA      | $195311.59    | 0.03%             | 2026-10-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| New Arclin U.S. Holding Corp.                       | New Arclin U.S. Holding Corp. 2021 Delayed Draw Term Loan                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     30545 | PA      | $28464.60     | 0.00%             | 2028-10-02      | Floating      | 1.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SENSATA TECHNOLOGIES INC                                                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -419142 | PA      | $-419142.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                     | SWAP/CDSWAP/ICE: (CDX.NA.IG.38.V1)                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |  19020000 | OU      | $-189192.97   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                     | Yum! Brands Inc                                                                     | CUSIP: 988498AK7<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     85000 | PA      | $72250.00     | 0.01%             | 2043-11-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                | Commercial Metals Co                                                                | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     90000 | PA      | $78921.00     | 0.01%             | 2030-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp                                 | NOVA Chemicals Corp                                                                 | CUSIP: 66977WAQ2<br>LEI: 5493007M1XGU5E55ZJ25 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $78349.86     | 0.01%             | 2024-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                                 | Cirsa Finance International Sarl                                                    | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $92781.67     | 0.02%             | 2025-05-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC                        | RRP FNMA 30YR UMBS                                                                  | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Short            | RA               | CORP              | US        |  -7116447 | PA      | $-7116447.02  | -1.23%            |  |  |  | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                                | Aramark Services Inc                                                                | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105193.20    | 0.02%             | 2025-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPSOL INTL FINANCE                                 | Repsol International Finance BV                                                     | CUSIP: 000000000<br>LEI: 5493002YCY6HTK0OUR29 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $93240.37     | 0.02%             | 2028-09-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (LADLN)                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     60000 | OU      | $-8486.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ACI WORLDWIDE INC                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -457725 | PA      | $-457725.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    197000 | PA      | $235907.50    | 0.04%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DIAMOND BC BV                                       | Diamond BC BV                                                                       | CUSIP: 25257DAA6<br>LEI: 549300SWLHWJF3D4N658 | Long             | DBT              | CORP              | NL        |    712000 | PA      | $603405.76    | 0.10%             | 2029-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                           | Anchorage Capital CLO 7 Ltd                                                         | CUSIP: 03328TBG9<br>LEI: 54930014PVHLSZJQK139 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $235711.03    | 0.04%             | 2031-01-28      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Raytheon Technologies Corp                          | Raytheon Technologies Corp                                                          | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     25650 | NS      | $2390836.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BOMBARDIER INC                                      | Bombardier Inc                                                                      | CUSIP: 097751BV2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    907000 | PA      | $842058.80    | 0.15%             | 2026-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CELLNEX TELECOM SA                                  | Cellnex Telecom SA                                                                  | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $162055.12    | 0.03%             | 2031-11-20      | Fixed         | 0.75%                 | No            |                  1 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -2436221 | PA      | $-2436220.51  | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | FSWP: USD 1.657000 25-APR-2032                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  10290000 | OU      | $917401.28    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 156700AX4<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    620000 | PA      | $630029.54    | 0.11%             | 2023-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Sequa Mezzanine Holdings L.L.C.                     | Sequa Mezzanine Holdings L.L.C. 2020 Extended Term Loan                             | CUSIP: 81733HAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     99698 | PA      | $99137.32     | 0.02%             | 2023-11-28      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                            | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl                 | CUSIP: 42329HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $318113.71    | 0.05%             | 2028-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                   | Elevation CLO 2021-12 Ltd                                                           | CUSIP: 28623NAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $210734.38    | 0.04%             | 2032-04-20      | Floating      | 9.98%                 | No            |                  2 | On Loan: No      |
| Apache Corp                                         | Apache Corp                                                                         | CUSIP: 037411BA2<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    800000 | PA      | $655164.00    | 0.11%             | 2043-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                              | WESCO Distribution Inc                                                              | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    830000 | PA      | $857888.00    | 0.15%             | 2025-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES                                     | Thor Industries Inc                                                                 | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |    137000 | PA      | $110996.11    | 0.02%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CASTLELAKE AVIATION FIN                             | Castlelake Aviation Finance DAC                                                     | CUSIP: 14856HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     56000 | PA      | $47014.16     | 0.01%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUMMIT MATERIALS LLC/FIN                            | Summit Materials LLC / Summit Materials Finance Corp                                | CUSIP: 86614RAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    227000 | PA      | $213706.01    | 0.04%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                                        | Seaspan Corp                                                                        | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    444000 | PA      | $347430.00    | 0.06%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                 | Clarivate Science Holdings Corp                                                     | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1281000 | PA      | $1165710.00   | 0.20%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (SDFGR)                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     30000 | OU      | $2179.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                              | H&E Equipment Services Inc                                                          | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |     76000 | PA      | $65930.00     | 0.01%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                          | Carvana Co                                                                          | CUSIP: 146869AF9<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    371000 | PA      | $244860.00    | 0.04%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REKEEP SPA                                          | Rekeep SpA                                                                          | CUSIP: 000000000<br>LEI: 8156008737CA044FCB79 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $88662.81     | 0.02%             | 2026-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                        | Centene Corp                                                                        | CUSIP: 15135BAW1<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    859000 | PA      | $766691.86    | 0.13%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                                        | Teleflex Inc                                                                        | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    325000 | PA      | $306353.08    | 0.05%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                            | Fortress Transportation and Infrastructure Investors LLC                            | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    396000 | PA      | $356027.76    | 0.06%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Peraton Corp.                                       | Peraton Corp. 2nd Lien Term Loan B1                                                 | CUSIP: 71360HAG2<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    675709 | PA      | $628835.20    | 0.11%             | 2029-02-01      | Floating      | 9.71%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                            | Live Nation Entertainment Inc                                                       | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1647000 | PA      | $1690233.75   | 0.29%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                             | Goldman Sachs Group Inc/The                                                         | CUSIP: 38145G308<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    395017 | NS      | $9907026.36   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/Community Health Systems Inc                                                    | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    384000 | PA      | $205297.92    | 0.04%             | 2030-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC                  | RRP COMMSCOPE INC                                                                   | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -116090 | PA      | $-116090.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES 2013-2                            | American Airlines 2013-2 Class A Pass Through Trust                                 | CUSIP: 02377UAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    402765 | PA      | $395129.50    | 0.07%             | 2023-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CEDACRI MERGECO SPA                                 | Cedacri Mergeco SPA                                                                 | CUSIP: 000000000<br>LEI: 213800Z5DANXME2K6X50 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $95032.23     | 0.02%             | 2028-05-15      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                              | Spirit AeroSystems Inc                                                              | CUSIP: 85205TAM2<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    236000 | PA      | $235086.68    | 0.04%             | 2025-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                         | Vistra Operations Co LLC                                                            | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    254000 | PA      | $254815.34    | 0.04%             | 2027-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                              | Spirit AeroSystems Inc                                                              | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39843.60     | 0.01%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IND & COMM BK OF CHINA                              | Industrial & Commercial Bank of China Ltd                                           | CUSIP: 000000000<br>LEI: 5493002ERZU2K9PZDL40 | Long             | DBT              | CORP              | CN        |    210000 | PA      | $201810.00    | 0.03%             | 2026-09-24      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                            | iHeartCommunications Inc                                                            | CUSIP: 45174HBG1<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     96000 | PA      | $86244.00     | 0.01%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                             | Avis Budget Car Rental LLC / Avis Budget Finance Inc                                | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $41035.95     | 0.01%             | 2029-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                              | Match Group Holdings II LLC                                                         | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    262000 | PA      | $234364.31    | 0.04%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ENERGY TRANSFER PARTNERS LP                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -299688 | PA      | $-299687.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                 | Elevance Health Inc                                                                 | CUSIP: 94973VBG1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     73000 | PA      | $495020.30    | 0.09%             | 2042-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP FEDEX CORP                                                                      | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -455625 | PA      | $-455625.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | Carnival Corp                                                                       | CUSIP: 000000000<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $106931.95    | 0.02%             | 2026-02-01      | Fixed         | 10.13%                | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ALLIED UNIV                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -711515 | PA      | $-711515.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | SWP: USD 1.930800 22-OCT-2051                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   2840000 | OU      | $-478607.88   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                 | Petroleos Mexicanos                                                                 | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    525000 | PA      | $405562.50    | 0.07%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Da Vinci Purchaser Corp.                            | Da Vinci Purchaser Corp. 2019 Term Loan                                             | CUSIP: 23343FAB0<br>LEI: 254900CEZYHAWVXDTS47 | Long             | LON              | CORP              | US        |     78722 | PA      | $76622.17     | 0.01%             | 2027-01-08      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| OQ SAOC                                             | OQ SAOC                                                                             | CUSIP: 67624L2A5<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | CORP              | OM        |    300000 | PA      | $284775.00    | 0.05%             | 2028-05-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AUTOSTRADE PER L'ITALIA                             | Autostrade per l'Italia SpA                                                         | CUSIP: 000000000<br>LEI: 815600149448CEB9B230 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $89134.18     | 0.02%             | 2028-12-04      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EASY TACTIC LTD                                     | Easy Tactic Ltd                                                                     | CUSIP: 000000000<br>LEI: 549300WYFMC41MKE6E16 | Long             | DBT              | CORP              | VG        |    210379 | PA      | $41286.88     | 0.01%             | 2027-07-11      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140JM3C4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    756481 | PA      | $775988.17    | 0.13%             | 2034-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                | Edison International                                                                | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    220000 | PA      | $185588.34    | 0.03%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                       | Life Time Inc                                                                       | CUSIP: 53190FAC9<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    276000 | PA      | $260130.00    | 0.04%             | 2026-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAH8<br>LEI: N/A                  | Long             | DBT              |  | US        |     10000 | PA      | $9544.10      | 0.00%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oi SA                                               | Oi SA                                                                               | CUSIP: 000000000<br>LEI: 254900YEMWCRRAGD4978 | Long             | DBT              | CORP              | BR        |    383000 | PA      | $181925.00    | 0.03%             | 2025-07-27      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                               | GFL Environmental Inc                                                               | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    483000 | PA      | $444326.19    | 0.08%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                    | MGM Resorts International                                                           | CUSIP: 552953CC3<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    494000 | PA      | $498255.81    | 0.09%             | 2023-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                  | Morocco Government International Bond                                               | CUSIP: 617726AL8<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    500000 | PA      | $396250.00    | 0.07%             | 2032-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP REYNOLDS AMERICAN INC                                                           | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -599706 | PA      | $-599706.25   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140Q83T0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1364335 | PA      | $1402002.52   | 0.24%             | 2048-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                                | RLJ Lodging Trust LP                                                                | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |    124000 | PA      | $109895.00    | 0.02%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                             | Zayo Group Holdings Inc                                                             | CUSIP: 98919VAB1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   2561000 | PA      | $1984775.00   | 0.34%             | 2028-03-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP CLARIVATE S                                                                     | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -433068 | PA      | $-433067.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP CVS HEALTH CORP                                                                 | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1010100 | PA      | $-1010100.00  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140X7HL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23713 | PA      | $24384.05     | 0.00%             | 2050-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                          | Mattel Inc                                                                          | CUSIP: 577081BF8<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    131000 | PA      | $121011.25    | 0.02%             | 2029-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                            | Consensus Cloud Solutions Inc                                                       | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83000 | PA      | $73826.94     | 0.01%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                | Taylor Morrison Communities Inc                                                     | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68757.97     | 0.01%             | 2030-08-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SPX FLOW, INC.                                      | SPX Flow, Inc. 2022 Term Loan                                                       | CUSIP: 000000000<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |    479006 | PA      | $452363.88    | 0.08%             | 2029-04-05      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                    | CSC Holdings LLC                                                                    | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    633000 | PA      | $626670.00    | 0.11%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COBHAM ULTRA SENIORCO SARL                          | Cobham Ultra US Co-Borrower LLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     99000 | PA      | $94854.87     | 0.02%             | 2028-11-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FHLMC 30YR UMBS SUPER                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -3180765 | PA      | $-3180765.00  | -0.55%            |  |  |  | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOLD                             | Lions Gate Capital Holdings LLC                                                     | CUSIP: 53627NAE1<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |    962000 | PA      | $783101.04    | 0.14%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | Level 3 Financing Inc                                                               | CUSIP: 527298BP7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    113000 | PA      | $101979.28    | 0.02%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                   | Post Holdings Inc                                                                   | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    190000 | PA      | $179599.40    | 0.03%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 31418DNQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11412 | PA      | $11652.36     | 0.00%             | 2050-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United Group BV                                     | United Group BV                                                                     | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $97887.42     | 0.02%             | 2024-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Grupo Bimbo SAB de CV                               | Grupo Bimbo SAB de CV                                                               | CUSIP: 40052VAF1<br>LEI: 5493000RIXURZEBFEV60 | Long             | DBT              | CORP              | MX        |    287000 | PA      | $281776.60    | 0.05%             | 2023-04-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                       | Allstate Corp/The                                                                   | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1854080.00   | 0.32%             | 2053-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                        | Entegris Inc                                                                        | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    223000 | PA      | $210271.16    | 0.04%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NCL FINANCE LTD                                     | NCL Finance Ltd                                                                     | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    333000 | PA      | $257418.99    | 0.04%             | 2028-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp                                 | Carrier Global Corp                                                                 | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     25650 | NS      | $1039594.50   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascend Performance Materials Operations LLC         | Ascend Performance Materials Operations LLC 2021 Term Loan B                        | CUSIP: 04350TAC8<br>LEI: 549300NIMFUIRMMAGQ29 | Long             | LON              | CORP              | US        |    486343 | PA      | $479252.60    | 0.08%             | 2026-08-27      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                   | Chile Government International Bond                                                 | CUSIP: 168863DY1<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $184000.00    | 0.03%             | 2042-03-07      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                            | American Airlines Inc/AAdvantage Loyalty IP Ltd                                     | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1006210 | PA      | $989597.47    | 0.17%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP PRIME SECURITY SERVICES BORROW                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -381160 | PA      | $-381160.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                    | Vmed O2 UK Financing I PLC                                                          | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $105230.09    | 0.02%             | 2031-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                                   | Imola Merger Corp                                                                   | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    839000 | PA      | $784465.00    | 0.14%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                        | UBS Group AG                                                                        | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    210000 | PA      | $168787.50    | 0.03%             | 2031-02-10      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                            | Banco Bilbao Vizcaya Argentaria SA                                                  | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $1751457.78   | 0.30%             | 2027-11-16      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Tibco Software Inc.                                 | Tibco Software Inc. 2020 2nd Lien Term Loan                                         | CUSIP: 88632NAN0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    232000 | PA      | $229796.00    | 0.04%             | 2028-03-03      | Floating      | 9.63%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                               | Level 3 Financing Inc                                                               | CUSIP: 527298BH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    146000 | PA      | $146197.10    | 0.03%             | 2025-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                              | Market Bidco Finco PLC                                                              | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $101686.29    | 0.02%             | 2027-11-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                     | Yum! Brands Inc                                                                     | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    159000 | PA      | $154611.60    | 0.03%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC Holdings LLC                                                                    | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $160000.00    | 0.03%             | 2031-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ZAYO GROUP HOLDINGS INC                                                         | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1266700 | PA      | $-1266700.00  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                    | DT Midstream Inc                                                                    | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    657000 | PA      | $589657.50    | 0.10%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP MILEAGE PLUS HOLDINGS LLC                                                       | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -810550 | PA      | $-810550.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GCS7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    104000 | PA      | $103919.92    | 0.02%             | 2024-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GAMMA BIDCO SPA                                     | Gamma Bidco SpA                                                                     | CUSIP: 000000000<br>LEI: 549300JS6XODWD0TZD48 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $98372.28     | 0.02%             | 2025-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Allison Transmission Inc                            | Allison Transmission Inc                                                            | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    211000 | PA      | $207667.26    | 0.04%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP STANDARD CHARTERED PLC                                                          | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -456875 | PA      | $-456875.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                            | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp                  | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148000 | PA      | $115832.50    | 0.02%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                            | Hess Midstream Operations LP                                                        | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $271700.10    | 0.05%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    452000 | PA      | $456574.24    | 0.08%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                    | Arches Buyer Inc                                                                    | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    143000 | PA      | $122324.23    | 0.02%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                                 | Boxer Parent Co Inc                                                                 | CUSIP: 103186AC6<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    194000 | PA      | $185277.08    | 0.03%             | 2026-03-01      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                         | Vistra Operations Co LLC                                                            | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18216.18     | 0.00%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC               | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    972000 | PA      | $918239.74    | 0.16%             | 2027-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1017000 | PA      | $882247.50    | 0.15%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP FEDEX CORP                                                                      | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -444375 | PA      | $-444375.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                                | Carpenter Technology Corp                                                           | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    391000 | PA      | $356009.41    | 0.06%             | 2030-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP IQVIA INC                                                                       | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -463361 | PA      | $-463361.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| AUTOSTRADE PER L'ITALIA                             | Autostrade per l'Italia SpA                                                         | CUSIP: 000000000<br>LEI: 815600149448CEB9B230 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $85629.78     | 0.01%             | 2030-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL PARENT/MERGER SU                            | Central Parent Inc / Central Merger Sub Inc                                         | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    796000 | PA      | $809054.40    | 0.14%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                            | Sensata Technologies Inc                                                            | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     44000 | PA      | $38230.94     | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                           | Anchorage Capital CLO 5-R Ltd                                                       | CUSIP: 03329YAA1<br>LEI: 549300687XYK5L55VX28 | Long             | ABS-CBDO         | CORP              | KY        |    860000 | PA      | $791494.98    | 0.14%             | 2030-01-15      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                              | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC         | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2668000 | PA      | $2294480.00   | 0.40%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                    | AmWINS Group Inc                                                                    | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    366000 | PA      | $332877.00    | 0.06%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                  | Dominican Republic International Bond                                               | CUSIP: 25714PED6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    452000 | PA      | $388239.75    | 0.07%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JINGRUI HOLDINGS LTD                                | Jingrui Holdings Ltd                                                                | CUSIP: 000000000<br>LEI: 549300RXCFKI6KHCMP52 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $38732.31     | 0.01%             | 2022-07-25      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                | Aramark Services Inc                                                                | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    606000 | PA      | $592062.00    | 0.10%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CHS/COMMUNITY HEALTH SYSTEMS I                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -476420 | PA      | $-476420.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | Level 3 Financing Inc                                                               | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    198000 | PA      | $165480.48    | 0.03%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | Open Text Corp                                                                      | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    179000 | PA      | $164673.06    | 0.03%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CANO HEALTH LLC                                     | Cano Health LLC                                                                     | CUSIP: 13782CAA8<br>LEI: 254900OGI2T8V1NXN639 | Long             | DBT              | CORP              | US        |    159000 | PA      | $142536.81    | 0.02%             | 2028-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                            | FirstEnergy Transmission LLC                                                        | CUSIP: 33767BAA7<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    573000 | PA      | $579760.51    | 0.10%             | 2044-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Greeneden U.S. Holdings II, LLC                     | Greeneden U.S. Holdings II, LLC 2020 USD Term Loan B4                               | CUSIP: 39479UAQ6<br>LEI: 549300CVRD4OUCPHWQ42 | Long             | LON              | CORP              | US        |    213113 | PA      | $207670.54    | 0.04%             | 2027-12-01      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                        | Navient Corp                                                                        | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    355000 | PA      | $304355.70    | 0.05%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                      | NRG Energy Inc                                                                      | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    347000 | PA      | $325312.50    | 0.06%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP VIATRIS INC                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -576875 | PA      | $-576875.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                              | Egypt Government International Bond                                                 | CUSIP: 03846JX47<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $170000.00    | 0.03%             | 2024-05-29      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | OneMain Finance Corp                                                                | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    263000 | PA      | $259712.50    | 0.04%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                            | Jefferies Finance LLC / JFIN Co-Issuer Corp                                         | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $347847.70    | 0.06%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                            | Saudi Government International Bond                                                 | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    362000 | PA      | $385077.50    | 0.07%             | 2030-04-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1329502 | PA      | $-1329501.75  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                            | Suburban Propane Partners LP/Suburban Energy Finance Corp                           | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $106589.13    | 0.02%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADANI GREEN ENERGY UP                               | Adani Green Energy UP Ltd / Prayatna Developers Pvt Ltd / Parampujya Solar Energ    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |    200000 | PA      | $194162.50    | 0.03%             | 2024-12-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                                       | Boyne USA Inc                                                                       | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $353902.50    | 0.06%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                               | American Homes 4 Rent 2014-SFR2 Trust                                               | CUSIP: 02665UAE5<br>LEI: 549300ZJUO7A58PNUW40 | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2030170.60   | 0.35%             | 2036-10-17      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                             | Surgery Center Holdings Inc                                                         | CUSIP: 84611WAB0<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    782000 | PA      | $742454.26    | 0.13%             | 2025-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP GENERAL MOTORS CO                                                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2070588 | PA      | $-2070587.50  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| BOOKING HOLDINGS INC                                | Booking Holdings Inc                                                                | CUSIP: 09857LAN8<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |    485000 | PA      | $646765.65    | 0.11%             | 2025-05-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                  | Credit Agricole SA                                                                  | CUSIP: 225313AP0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    260000 | PA      | $220350.00    | 0.04%             | 2029-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO / FINANCE                            | Radiate Holdco LLC / Radiate Finance Inc                                            | CUSIP: 75026JAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    932000 | PA      | $861540.80    | 0.15%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP AT&T INC                                                                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |    -98096 | PA      | $-98096.25    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS SUPER                                                            | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -112457 | PA      | $-112457.04   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | Frontier Communications Holdings LLC                                                | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    544000 | PA      | $484160.00    | 0.08%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                             | Romanian Government International Bond                                              | CUSIP: 77586RAN0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    416000 | PA      | $410800.00    | 0.07%             | 2027-11-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                     | Nordea Bank Abp                                                                     | CUSIP: 65559CAD3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    560000 | PA      | $432490.22    | 0.07%             | 2029-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GENNEIA SA                                          | Genneia SA                                                                          | CUSIP: 372319AB9<br>LEI: 529900YZ70LX0XWS9P67 | Long             | DBT              | CORP              | AR        |    167888 | PA      | $147615.52    | 0.03%             | 2027-09-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES STEEL CORP                            | United States Steel Corp                                                            | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |    438000 | PA      | $420663.96    | 0.07%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                   | Lithia Motors Inc                                                                   | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    167000 | PA      | $148588.91    | 0.03%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                            | TK Elevator US Newco Inc                                                            | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |   1748000 | PA      | $1678080.00   | 0.29%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MAF SUKUK LTD                                       | MAF Sukuk Ltd                                                                       | CUSIP: 000000000<br>LEI: 549300IS9H0W5N2N4K34 | Long             | DBT              | CORP              | KY        |    262000 | PA      | $251405.38    | 0.04%             | 2030-02-28      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                 | Buckeye Partners LP                                                                 | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    182000 | PA      | $132860.00    | 0.02%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ReRemic Trust                        | Morgan Stanley Re-REMIC Trust 2010-R5                                               | CUSIP: 61759HBE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4625000 | PA      | $4558344.84   | 0.79%             | 2037-05-26      | Variable      | 2.74%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR HOLDCO GMBH                             | TK Elevator Holdco GmbH                                                             | CUSIP: 92537VAA8<br>LEI: 2549008GCHWX9EEMIS56 | Long             | DBT              | CORP              | DE        |    552000 | PA      | $499560.00    | 0.09%             | 2028-07-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                            | TerraForm Power Operating LLC                                                       | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    179000 | PA      | $166395.72    | 0.03%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                              | WESCO Distribution Inc                                                              | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    573000 | PA      | $593633.74    | 0.10%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | Citigroup Inc                                                                       | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    630000 | PA      | $554765.40    | 0.10%             | 2026-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                            | Clarios Global LP / Clarios US Finance Co                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    101000 | PA      | $95588.22     | 0.02%             | 2026-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                        | TruGreen Limited Partnership 2020 2nd Lien Term Loan                                | CUSIP: 89787RAK8<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |    201000 | PA      | $188940.00    | 0.03%             | 2028-11-02      | Floating      | 10.75%                | No            |                  3 | On Loan: No      |
| Altria Group Inc                                    | Altria Group Inc                                                                    | CUSIP: 02209SAQ6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    750000 | PA      | $574625.25    | 0.10%             | 2043-05-02      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                    | Organon & Co / Organon Foreign Debt Co-Issuer BV                                    | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1153000 | PA      | $1090161.50   | 0.19%             | 2028-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP HSBC HOLDINGS PLC                                                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -347338 | PA      | $-347337.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| LEGACY LIFEPOINT HEALTH                             | Legacy LifePoint Health LLC                                                         | CUSIP: 53219LAS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $110050.00    | 0.02%             | 2027-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                  | SWAP/CDSWAP/SCDS: (TTMTIN)                                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |     20000 | OU      | $-2995.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                  | Telecom Italia SpA/Milano                                                           | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $101693.95    | 0.02%             | 2024-04-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CCO HOLDINGS LLC                                                                | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -880380 | PA      | $-880380.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| Ryan Specialty Group, LLC                           | Ryan Specialty Group, LLC Term Loan                                                 | CUSIP: 78350UAE5<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    233835 | PA      | $227014.03    | 0.04%             | 2027-09-01      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                    | Bain Capital Credit CLO 2020-2 Ltd                                                  | CUSIP: 05683EAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $230499.23    | 0.04%             | 2034-07-19      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| ASHLAND LLC                                         | Ashland LLC                                                                         | CUSIP: 04433LAA0<br>LEI: 6O4MRU8C1MS0K34UQF79 | Long             | DBT              | CORP              | US        |    373000 | PA      | $318773.38    | 0.06%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                | WR Grace Holdings LLC                                                               | CUSIP: 92943GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1741000 | PA      | $1469404.00   | 0.25%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP KINDER MORGAN ENERGY PARTNERS                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2393750 | PA      | $-2393750.00  | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| Staples Inc                                         | Staples Inc                                                                         | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    526000 | PA      | $465510.00    | 0.08%             | 2026-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                  | Mongolia Government International Bond                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    250000 | PA      | $221277.50    | 0.04%             | 2026-04-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107168.00    | 0.02%             | 2031-01-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -136779 | PA      | $-136779.15   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                 | Nigeria Government International Bond                                               | CUSIP: 65412JAU7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    400000 | PA      | $309500.00    | 0.05%             | 2029-03-24      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140X7CK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    115881 | PA      | $118463.76    | 0.02%             | 2050-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                   | Clarios Global LP 2021 USD Term Loan B                                              | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | CA        |     95085 | PA      | $91332.73     | 0.02%             | 2026-04-30      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP BROADCOM INC                                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -635540 | PA      | $-635540.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Osaka Exchange                                      | JPN 10Y BOND(OSE) SEP22                                                             | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |        -8 | NC      | $-122704.40   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                            | Prime Healthcare Services Inc                                                       | CUSIP: 74165HAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    368000 | PA      | $323641.28    | 0.06%             | 2025-11-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 15YR                                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -400906 | PA      | $-400906.30   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM                                    | Callon Petroleum Co                                                                 | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    739000 | PA      | $748237.50    | 0.13%             | 2028-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp                                | Range Resources Corp                                                                | CUSIP: 75281ABA6<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145559.70    | 0.03%             | 2023-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp                                 | SoftBank Group Corp                                                                 | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $94022.44     | 0.02%             | 2025-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                               | Sotheby's/Bidfair Holdings Inc                                                      | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    690000 | PA      | $598470.00    | 0.10%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MH Sub I, LLC                                       | MH Sub I, LLC 2021 2nd Lien Term Loan                                               | CUSIP: 55303BAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     66000 | PA      | $62424.78     | 0.01%             | 2029-02-23      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                          | Carvana Co                                                                          | CUSIP: 146869AH5<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    286000 | PA      | $170727.70    | 0.03%             | 2029-09-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                        | ADT Security Corp/The                                                               | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     35000 | PA      | $31500.00     | 0.01%             | 2029-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp                                | Range Resources Corp                                                                | CUSIP: 75281AAS8<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17962.02     | 0.00%             | 2025-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 40YR REPERFORMING MODIFIE                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -2303415 | PA      | $-2303414.53  | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    410000 | PA      | $352628.70    | 0.06%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                             | New Fortress Energy Inc                                                             | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1201000 | PA      | $1172476.25   | 0.20%             | 2025-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | SWP: USD 1.835000 08-OCT-2051                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  11500000 | OU      | $-2159195.99  | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | SWAP/CDSWAP/SCDS: (TTMTIN)                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |     10153 | OU      | $-1520.65     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                               | Element Solutions Inc                                                               | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |   1889000 | PA      | $1743981.47   | 0.30%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                                   | American Builders & Contractors Supply Co Inc                                       | CUSIP: 024747AG2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |     76000 | PA      | $64980.00     | 0.01%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                             | Sensata Technologies BV                                                             | CUSIP: 81725WAJ2<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    368000 | PA      | $369909.92    | 0.06%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIQUID TELECOM FINANCE                              | Liquid Telecommunications Financing Plc                                             | CUSIP: 536333AB3<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $174412.50    | 0.03%             | 2026-09-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP NGL ENERGY                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -395388 | PA      | $-395387.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                             | Sensata Technologies BV                                                             | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    216000 | PA      | $196408.80    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP VERSCEND ES                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1604460 | PA      | $-1604460.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                             | Standard Industries Inc/NJ                                                          | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     48000 | PA      | $46033.92     | 0.01%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                        | Centene Corp                                                                        | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    871000 | PA      | $779545.00    | 0.13%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                | Kraft Heinz Foods Co                                                                | CUSIP: 50077LBJ4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    913000 | PA      | $930183.00    | 0.16%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (VMED)                                                            | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     20000 | OU      | $668.41       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LBM Acquisition LLC                                 | LBM Acquisition LLC Term Loan B                                                     | CUSIP: 50179JAB4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |         1 | PA      | $1.06         | 0.00%             | 2027-12-17      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| Pinewood Finance Co Ltd                             | Pinewood Finance Co Ltd                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    100000 | PA      | $110210.89    | 0.02%             | 2025-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                              | General Motors Financial Co Inc                                                     | CUSIP: 37045XAL0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    326000 | PA      | $327671.85    | 0.06%             | 2023-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                            | 1011778 BC ULC / New Red Finance Inc                                                | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    157000 | PA      | $145509.17    | 0.03%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                            | Univision Communications Inc                                                        | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    132000 | PA      | $132330.00    | 0.02%             | 2027-06-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                               | Genesis Energy LP / Genesis Energy Finance Corp                                     | CUSIP: 37185LAJ1<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |     53000 | PA      | $51351.44     | 0.01%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ENTEGRIS ESCROW CORP                                                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1424782 | PA      | $-1424782.50  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                             | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                         | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              |  | US        |    194000 | PA      | $138530.60    | 0.02%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                              | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc                  | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $52220.00     | 0.01%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN                            | Perusahaan Penerbit SBSN Indonesia III                                              | CUSIP: 71567PAU4<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | CORP              | ID        |    200000 | PA      | $204000.00    | 0.04%             | 2027-06-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                             | Zayo Group Holdings Inc                                                             | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   1586000 | PA      | $1388162.36   | 0.24%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CARVANA CO                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -177320 | PA      | $-177320.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                   | Vedanta Resources Finance II PLC                                                    | CUSIP: 92243XAE1<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    320000 | PA      | $235200.00    | 0.04%             | 2025-03-11      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                      | Commerzbank AG                                                                      | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $195844.35    | 0.03%             | 2025-10-09      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP IRON MOUNTAIN INC                                                               | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -448555 | PA      | $-448555.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| United Mexican States                               | Mexico Government International Bond                                                | CUSIP: 91087BAE0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    805000 | PA      | $788900.00    | 0.14%             | 2028-01-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                             | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl        | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $799110.00    | 0.14%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP VIRGINIA ELECTRIC AND POWER CO                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -804375 | PA      | $-804375.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                            | Delta Air Lines Inc / SkyMiles IP Ltd                                               | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     97610 | PA      | $95335.47     | 0.02%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP PATTERN ENERGY OPERATIONS LP                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -484075 | PA      | $-484075.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                            | Univision Communications Inc                                                        | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106975.00    | 0.02%             | 2025-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                                   | Levi Strauss & Co                                                                   | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |    244000 | PA      | $220519.88    | 0.04%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                            | USA Compression Partners LP / USA Compression Finance Corp                          | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212000 | PA      | $198703.36    | 0.03%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP TRANSDIGM INC                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -6386588 | PA      | $-6386587.50  | -1.10%            |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                  | Howard Hughes Corp/The                                                              | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    189000 | PA      | $162575.18    | 0.03%             | 2029-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP GILEAD SCIENCES INC                                                             | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -672000 | PA      | $-672000.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                       | Cable One Inc                                                                       | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |   1312000 | PA      | $1128320.00   | 0.19%             | 2028-03-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                            | New Enterprise Stone & Lime Co Inc                                                  | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |    103000 | PA      | $89867.50     | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                        | Barclays PLC                                                                        | CUSIP: 06738EAP0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201424.00    | 0.03%             | 2026-05-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MH Sub I, LLC                                       | MH Sub I, LLC 2017 1st Lien Term Loan                                               | CUSIP: 45567YAJ4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    169361 | PA      | $164279.75    | 0.03%             | 2024-09-13      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CLEAR CHANN                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -636912 | PA      | $-636912.50   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                | WR Grace Holdings LLC                                                               | CUSIP: 92943GAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $287853.00    | 0.05%             | 2024-10-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                             | Penske Automotive Group Inc                                                         | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |     87000 | PA      | $78300.00     | 0.01%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp                                 | Otis Worldwide Corp                                                                 | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     12825 | NS      | $1002530.25   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudera, Inc.                                      | Cloudera, Inc. 2021 Second Lien Term Loan                                           | CUSIP: 74339VAE8<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    416000 | PA      | $376480.00    | 0.06%             | 2029-10-08      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                 | Go Daddy Operating Co LLC / GD Finance Co Inc                                       | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    359000 | PA      | $350147.06    | 0.06%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | FSWP: OIS 3.011320 30-JUN-2024                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  13295000 | OU      | $18345.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MH Sub I, LLC                                       | MH Sub I, LLC 2020 Incremental Term Loan                                            | CUSIP: 45567YAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    250047 | PA      | $242440.72    | 0.04%             | 2024-09-13      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                            | Western Midstream Operating LP                                                      | CUSIP: 958254AL8<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    103000 | PA      | $89795.06     | 0.02%             | 2048-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                            | Shimao Group Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $15100.00     | 0.00%             | 2031-01-11      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                            | 1011778 BC ULC / New Red Finance Inc                                                | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    207000 | PA      | $180090.00    | 0.03%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REGIONAL MGMT ISSUANCE                              | REGIONAL MGMT ISSUANCE                                                              | CUSIP: 75907WAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1110000 | PA      | $1034294.67   | 0.18%             | 2033-10-17      | Fixed         | 3.88%                 | No            |                  3 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                            | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp                  | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $64320.00     | 0.01%             | 2027-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SCC POWER PLC                                       | SCC Power PLC                                                                       | CUSIP: 78397YAB8<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    648271 | PA      | $272502.67    | 0.05%             | 2028-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                                  | Murphy Oil USA Inc                                                                  | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    171000 | PA      | $165420.27    | 0.03%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RENAULT SA                                          | Renault SA                                                                          | CUSIP: 000000000<br>LEI: 969500F7JLTX36OUI695 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $93913.90     | 0.02%             | 2026-05-25      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                 | Petroleos Mexicanos                                                                 | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    290000 | PA      | $196692.50    | 0.03%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                               | Cablevision Lightpath LLC                                                           | CUSIP: 12687GAB5<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    401000 | PA      | $323871.66    | 0.06%             | 2028-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                            | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp                           | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $274686.58    | 0.05%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC                            | Elanco Animal Health Inc                                                            | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    316000 | PA      | $323110.00    | 0.06%             | 2028-08-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                 | JPMorgan Chase & Co                                                                 | CUSIP: 48128BAF8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $952202.18    | 0.16%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of Paraguay                                | Paraguay Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    305000 | PA      | $309632.19    | 0.05%             | 2027-03-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP WHITE CAP BUYER LLC                                                             | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -396900 | PA      | $-396900.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Nokia OYJ                                           | Nokia Oyj                                                                           | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    177000 | PA      | $174493.68    | 0.03%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140JM5W8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1588395 | PA      | $1621111.19   | 0.28%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MHI Holdings,LLC                                    | MHI Holdings,LLC Term Loan B                                                        | CUSIP: 55303YAC7<br>LEI: 549300XOWJ3ALVFU4F13 | Long             | LON              | CORP              | US        |    437784 | PA      | $424650.32    | 0.07%             | 2026-09-21      | Floating      | 7.37%                 | No            |                  3 | On Loan: No      |
| CITIGROUP INC                                       | Citigroup Inc                                                                       | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185925.53    | 0.03%             | 2025-12-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                                 | Gilead Sciences Inc                                                                 | CUSIP: 375558BD4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    700000 | PA      | $700846.15    | 0.12%             | 2046-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                               | Mexico Government International Bond                                                | CUSIP: 91087BAM2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    832000 | PA      | $712608.00    | 0.12%             | 2031-05-24      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | CDS: (CMBX.NA.7.BBB-)                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |  10000000 | OU      | $-1915846.40  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| CENTENNIAL RESOURCE PROD                            | Centennial Resource Production LLC                                                  | CUSIP: 15136AAA0<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    610000 | PA      | $794525.00    | 0.14%             | 2028-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FHLMC 30YR UMBS                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -132550 | PA      | $-132550.39   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP BANCO BILBA                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1660000 | PA      | $-1660000.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| Nexa Resources SA                                   | Nexa Resources SA                                                                   | CUSIP: 91832CAA4<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $189662.50    | 0.03%             | 2027-05-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP BWAY HOLDING CO                                                                 | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -915412 | PA      | $-915412.50   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| AUTOMATION TOOLING SYSTE                            | ATS Automation Tooling Systems Inc                                                  | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |    139000 | PA      | $123223.50    | 0.02%             | 2028-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ALTRIA GROUP INC                                                                | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -544688 | PA      | $-544687.50   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete, LLC                      | Smyrna Ready Mix Concrete, LLC Term Loan B                                          | CUSIP: 000000000<br>LEI: 549300S7RFWHQFOIOY93 | Long             | LON              | CORP              | US        |     85622 | PA      | $82197.12     | 0.01%             | 2029-04-02      | Floating      | 6.68%                 | No            |                  3 | On Loan: No      |
| ANTERO RESOURCES CORP                               | Antero Resources Corp                                                               | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    269000 | PA      | $283458.75    | 0.05%             | 2029-02-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                            | Republic of South Africa Government International Bond                              | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    210000 | PA      | $192451.88    | 0.03%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                            | Scientific Games International Inc                                                  | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    190000 | PA      | $193269.90    | 0.03%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                               | Indonesia Government International Bond                                             | CUSIP: 455780CJ3<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    295000 | PA      | $304988.70    | 0.05%             | 2049-02-11      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                                     | Rolls-Royce PLC                                                                     | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |   1545000 | PA      | $1458920.33   | 0.25%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP AVANTOR FUN                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -969030 | PA      | $-969030.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                            | Jaguar Land Rover Automotive PLC                                                    | CUSIP: 000000000<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $76597.31     | 0.01%             | 2028-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMM & FIN                             | Midcontinent Communications / Midcontinent Finance Corp                             | CUSIP: 59565XAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $197505.00    | 0.03%             | 2027-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                      | Wynn Macau Ltd                                                                      | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $162000.00    | 0.03%             | 2026-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140Q7X51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1814511 | PA      | $1857376.54   | 0.32%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                              | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC         | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $185662.00    | 0.03%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                          | MFA 2021-NQM1 Trust                                                                 | CUSIP: 55283FAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1808508.40   | 0.31%             | 2065-04-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Mileage Plus Holdings LLC                           | Mileage Plus Holdings LLC 2020 Term Loan B                                          | CUSIP: 59921PAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    267331 | PA      | $269279.84    | 0.05%             | 2027-06-21      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                    | Peruvian Government International Bond                                              | CUSIP: 715638DP4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    712000 | PA      | $565506.00    | 0.10%             | 2032-12-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP                                | Covanta Holding Corp                                                                | CUSIP: 22282EAJ1<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    108000 | PA      | $94300.20     | 0.02%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP HILTON DOMESTIC OPERATING COMP                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -858681 | PA      | $-858681.25   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SP FINCO LLC                                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -170032 | PA      | $-170032.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                                   | Suncor Energy Inc                                                                   | CUSIP: 867229AE6<br>LEI: 549300W70ZOQDVLCHY06 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $897040.65    | 0.15%             | 2038-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                             | Darling Ingredients Inc                                                             | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    417000 | PA      | $431273.91    | 0.07%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CAESARS ENTERTAINMENT INC                                                       | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1574871 | PA      | $-1574871.25  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                            | Prime Security Services Borrower LLC / Prime Finance Inc                            | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    229000 | PA      | $209919.72    | 0.04%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                            | FirstEnergy Transmission LLC                                                        | CUSIP: 33767BAC3<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    206000 | PA      | $187543.38    | 0.03%             | 2049-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                            | Clarios Global LP / Clarios US Finance Co                                           | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3666000 | PA      | $3700020.48   | 0.64%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP VIRGIN MEDI                                                                     | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -334162 | PA      | $-334162.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ODBRCHT OFFSHRE DRLL FIN                            | Odebrecht Offshore Drilling Finance Ltd                                             | CUSIP: 67576GAD9<br>LEI: 549300L7LF2PIRAWID66 | Long             | DBT              | CORP              | KY        |       614 | PA      | $140.18       | 0.00%             | 2026-12-01      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                               | HUB International Ltd                                                               | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     67000 | PA      | $59360.88     | 0.01%             | 2029-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | Ford Motor Credit Co LLC                                                            | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    376000 | PA      | $326187.26    | 0.06%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| HEATHROW FINANCE PLC                                | Heathrow Finance PLC                                                                | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $102599.64    | 0.02%             | 2029-09-01      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| KKR APPLE BIDCO, LLC                                | KKR Apple Bidco, LLC 2021 2nd Lien Term Loan                                        | CUSIP: 000000000<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |     34000 | PA      | $32526.78     | 0.01%             | 2029-09-21      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                             | Asbury Automotive Group Inc                                                         | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    164000 | PA      | $142987.50    | 0.02%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP STANDARD INDUSTRIES INC                                                         | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -719950 | PA      | $-719950.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| Aviron Capital LLC                                  | Aviron Capital LLC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |        10 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Credit Suisse Mortgage Trust                        | CSMC 2021-NQM2                                                                      | CUSIP: 12662EAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1228768.80   | 0.21%             | 2066-02-25      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP RAYMOND JAMES FINANCIAL INC.                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -374500 | PA      | $-374500.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                   | Vedanta Resources Finance II PLC                                                    | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $171912.50    | 0.03%             | 2024-01-21      | Fixed         | 13.88%                | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                            | Fortress Transportation and Infrastructure Investors LLC                            | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     74000 | PA      | $73630.00     | 0.01%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | Frontier Communications Holdings LLC                                                | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $285623.80    | 0.05%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FHLMC 30YR UMBS SUPER                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1914297 | PA      | $-1914296.95  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Indonesia                               | Indonesia Government International Bond                                             | CUSIP: 455780CF1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    947000 | PA      | $958127.25    | 0.17%             | 2028-04-24      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                            | EQM Midstream Partners LP                                                           | CUSIP: 26885BAB6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    131000 | PA      | $120761.04    | 0.02%             | 2026-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Stevens Holding Co Inc                              | Stevens Holding Co Inc                                                              | CUSIP: 86024TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197000 | PA      | $193599.78    | 0.03%             | 2026-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                | Kaiser Aluminum Corp                                                                | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    281000 | PA      | $240088.98    | 0.04%             | 2028-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                        | Novelis Corp                                                                        | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    995000 | PA      | $850725.00    | 0.15%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INDIA GREEN ENERGY HLDNG                            | India Green Energy Holdings                                                         | CUSIP: 45410FAA3<br>LEI: 2549005BFUXXT5HWAG36 | Long             | DBT              | CORP              | MU        |    325000 | PA      | $310375.00    | 0.05%             | 2024-04-29      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | Uber Technologies Inc                                                               | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    843000 | PA      | $858261.41    | 0.15%             | 2026-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                                      | William Carter Co/The                                                               | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27773.34     | 0.00%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ALBERTSONS COS LLC/SAFEWAY INC                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -120809 | PA      | $-120808.75   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP EQM MIDSTRE                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -760919 | PA      | $-760918.75   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599DY8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     46000 | PA      | $50617.48     | 0.01%             | 2025-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio Inc                                 | Sirius XM Radio Inc                                                                 | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    292000 | PA      | $289596.84    | 0.05%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                                | Times China Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $22000.00     | 0.00%             | 2025-07-08      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                            | EQM Midstream Partners LP                                                           | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     34000 | PA      | $30430.00     | 0.01%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lealand Finance Company B.V.                        | Lealand Finance Company B.V. 2020 Make Whole Term Loan                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |     17205 | PA      | $10323.25     | 0.00%             | 2024-06-28      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| American Money Management Corporation               | Ammc Clo 19 Ltd                                                                     | CUSIP: 00176QAA8<br>LEI: 549300MYS7FLQJZMYD18 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $975779.00    | 0.17%             | 2028-10-15      | Floating      | 9.51%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP NOKIA OYJ                                                                       | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -136732 | PA      | $-136732.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FHLMC 30YR UMBS MIRROR                                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -805723 | PA      | $-805723.02   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Envision Healthcare Corporation                     | Envision Healthcare Corporation 2018 1st Lien Term Loan                             | CUSIP: 29373UAC5<br>LEI: 549300OL60X0LPKY8N60 | Long             | LON              | CORP              | US        |    627918 | PA      | $162341.83    | 0.03%             | 2025-10-10      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| MICROSTRATEGY INC                                   | MicroStrategy Inc                                                                   | CUSIP: 594972AF8<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |    577000 | PA      | $500547.50    | 0.09%             | 2028-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ZILLOW GROUP INC                                    | Zillow Group Inc                                                                    | CUSIP: 98954MAG6<br>LEI: 2549002XEELQDIR6FU05 | Long             | DBT              | CORP              | US        |     70000 | PA      | $74375.00     | 0.01%             | 2026-09-01      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP SOCIETE GEN                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -2212500 | PA      | $-2212500.00  | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| GOL FINANCE SA                                      | Gol Finance SA                                                                      | CUSIP: 36254VAC2<br>LEI: 5299007RH8MA67ZC6J07 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $128037.50    | 0.02%             | 2026-06-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                      | Sabre GLBL Inc                                                                      | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    336000 | PA      | $333175.92    | 0.06%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PT Pertamina (Persero)                              | Pertamina Persero PT                                                                | CUSIP: 69370RAD9<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | CORP              | ID        |    646000 | PA      | $604736.75    | 0.10%             | 2029-07-30      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY BUYER INC                               | CD&R Smokey Buyer Inc                                                               | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $25336.80     | 0.00%             | 2025-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VTR COMUNICACIONES SPA                              | VTR Comunicaciones SpA                                                              | CUSIP: 918367AA1<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |    178000 | PA      | $129472.75    | 0.02%             | 2028-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                      | Bombardier Inc                                                                      | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    781000 | PA      | $722425.00    | 0.12%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                     | Murphy Oil Corp                                                                     | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24718.75     | 0.00%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                    | CDS: (CMBX.NA.7.BBB-)                                                               | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DCR              |  | US        |  25000000 | OU      | $4789616.00   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| CIFI HOLDINGS GROUP                                 | CIFI Holdings Group Co Ltd                                                          | CUSIP: 000000000<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $74000.00     | 0.01%             | 2025-07-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                                  | Mattamy Group Corp                                                                  | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    257000 | PA      | $206823.32    | 0.04%             | 2030-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                              | Philip Morris International Inc                                                     | CUSIP: 718172AM1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    900000 | PA      | $768961.32    | 0.13%             | 2041-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                             | MPT Operating Partnership LP / MPT Finance Corp                                     | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              |  | US        |   1787000 | PA      | $1538508.72   | 0.27%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                                    | Boyd Gaming Corp                                                                    | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    495000 | PA      | $455513.85    | 0.08%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                 | Braskem Netherlands Finance BV                                                      | CUSIP: 10554TAF2<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    337000 | PA      | $348087.30    | 0.06%             | 2081-01-23      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| eG Global Finance PLC                               | eG Global Finance PLC                                                               | CUSIP: 28228PAA9<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    452000 | PA      | $432518.80    | 0.07%             | 2025-02-07      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                            | Cheniere Energy Partners LP                                                         | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   1139000 | PA      | $1103503.07   | 0.19%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MGIC INVESTMENT CORP                                | MGIC Investment Corp                                                                | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    216000 | PA      | $207900.00    | 0.04%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Apache Corp                                         | Apache Corp                                                                         | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    757000 | PA      | $673253.09    | 0.12%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Peloton Interactive, Inc                            | Peloton Interactive, Inc Term Loan                                                  | CUSIP: 70614EAD2<br>LEI: 5493002YS021166W0339 | Long             | LON              | CORP              | US        |    132000 | PA      | $125290.44    | 0.02%             | 2027-05-25      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| EC FINANCE PLC                                      | EC Finance PLC                                                                      | CUSIP: 000000000<br>LEI: 213800NKPB53RHYDQE45 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $187576.78    | 0.03%             | 2026-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SOLIS IV BV                                         | Solis IV BV USD Term Loan B1                                                        | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |    277000 | PA      | $246391.50    | 0.04%             | 2029-02-26      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR                                      | Qatar Government International Bond                                                 | CUSIP: 000000000<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    200000 | PA      | $204000.00    | 0.04%             | 2050-04-16      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                   | Clean Harbors Inc                                                                   | CUSIP: 184496AP2<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    205000 | PA      | $198882.10    | 0.03%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                              | Comstock Resources Inc                                                              | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    662000 | PA      | $655380.00    | 0.11%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP INDONESIA (REPUBLIC OF)                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -301546 | PA      | $-301546.25   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                        | ADT Security Corp/The                                                               | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     57000 | PA      | $50495.73     | 0.01%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP VI                              | Crown Americas LLC / Crown Americas Capital Corp VI                                 | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    258000 | PA      | $256034.04    | 0.04%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                              | Acrisure LLC / Acrisure Finance Inc                                                 | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $246012.30    | 0.04%             | 2029-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                              | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC         | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    736000 | PA      | $757160.00    | 0.13%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BCPE Empire Holdings, Inc.                          | BCPE Empire Holdings, Inc. 2022 Incremental Term Loan                               | CUSIP: 05550HAL9<br>LEI: 549300O2G0VI2955B626 | Long             | LON              | CORP              | US        |     49875 | PA      | $47973.77     | 0.01%             | 2026-06-11      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ZIGGO BOND COMPANY BV                                                           | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -458562 | PA      | $-458562.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP DISH DBS CORP                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -787788 | PA      | $-787787.50   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| SHUI ON DEVELOPMENT HLDG                            | Shui On Development Holding Ltd                                                     | CUSIP: 000000000<br>LEI: 3003005J4J3G9CZFDK52 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $171000.00    | 0.03%             | 2023-11-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Equity Loan Trust                  | CWHEQ Revolving Home Equity Loan Trust Series 2006-I                                | CUSIP: 12668FAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    499609 | PA      | $457678.37    | 0.08%             | 2037-01-15      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| APX GROUP INC                                       | APX Group Inc                                                                       | CUSIP: 00213MAW4<br>LEI: 549300OMQVKPRU98OE64 | Long             | DBT              | CORP              | US        |    342000 | PA      | $285254.66    | 0.05%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                                      | HB Fuller Co                                                                        | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    141000 | PA      | $125490.00    | 0.02%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency     | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE                        | CUSIP: 13016NFC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $222871.08    | 0.04%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                         | Freddie Mac REMICS                                                                  | CUSIP: 3137BKBJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |   5051135 | PA      | $5173236.34   | 0.89%             | 2044-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                      | Bombardier Inc                                                                      | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    683000 | PA      | $589292.40    | 0.10%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                            | Charles River Laboratories International Inc                                        | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     44000 | PA      | $40602.46     | 0.01%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LMIRT CAPITAL PTE LTD                               | LMIRT Capital Pte Ltd                                                               | CUSIP: 000000000<br>LEI: 5493009IDXHZSVD2BI70 | Long             | DBT              |  | SG        |    232000 | PA      | $188500.00    | 0.03%             | 2024-06-19      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP COLOMBIA (REPUBLIC OF)                                                          | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -307800 | PA      | $-307800.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | OneMain Finance Corp                                                                | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    389000 | PA      | $331210.97    | 0.06%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | Lumen Technologies Inc                                                              | CUSIP: 156700BC9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    641000 | PA      | $589732.82    | 0.10%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CALPINE COR                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -247431 | PA      | $-247431.25   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                              | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc                  | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $67035.00     | 0.01%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP RADIATE HOLDCO LLC / RADIATE F                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -146475 | PA      | $-146475.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Brookside Mill CLO Ltd                              | Brookside Mill CLO Ltd 2013-1                                                       | CUSIP: 114521AP2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $240763.68    | 0.04%             | 2028-01-17      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | Level 3 Financing Inc                                                               | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    785000 | PA      | $684874.45    | 0.12%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                                | BWX Technologies Inc                                                                | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20845.00     | 0.00%             | 2028-06-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New Arclin U.S. Holding Corp.                       | New Arclin U.S. Holding Corp. 2021 Term Loan                                        | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    208189 | PA      | $194007.61    | 0.03%             | 2028-09-30      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ENERGY TRANSFER LP                                                              | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -463750 | PA      | $-463750.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                             | VZ Secured Financing BV                                                             | CUSIP: 000000000<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $83901.08     | 0.01%             | 2032-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                            | MSCI Inc                                                                            | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |     99000 | PA      | $93279.78     | 0.02%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                            | Republic of South Africa Government International Bond                              | CUSIP: 836205BC7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    390000 | PA      | $361237.50    | 0.06%             | 2032-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                            | MSCI Inc                                                                            | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    374000 | PA      | $340381.14    | 0.06%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                | Colombia Government International Bond                                              | CUSIP: 195325CX1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    542000 | PA      | $519236.00    | 0.09%             | 2026-01-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AEROPUERTO INTL TOCUMEN                             | Aeropuerto Internacional de Tocumen SA                                              | CUSIP: 00787CAE2<br>LEI: 254900FO1PHX49ZIGB14 | Long             | DBT              | CORP              | PA        |    320000 | PA      | $265560.00    | 0.05%             | 2061-08-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Waste Pro USA Inc                                   | Waste Pro USA Inc                                                                   | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    939000 | PA      | $868575.00    | 0.15%             | 2026-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 LTD                                 | Avianca Midco 2 Ltd                                                                 | CUSIP: 05368PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    303929 | PA      | $253780.72    | 0.04%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-J8                                                      | CUSIP: 23245LAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1858037 | PA      | $953597.91    | 0.16%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                         | Gartner Inc                                                                         | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    171000 | PA      | $156155.49    | 0.03%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| VIDEOTRON LTD                                       | Videotron Ltd                                                                       | CUSIP: 92660FAN4<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    336000 | PA      | $293166.72    | 0.05%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ASCENT RESOURCES UTICA LLC                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1161000 | PA      | $-1161000.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    716000 | PA      | $632317.50    | 0.11%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Apache Corp                                         | Apache Corp                                                                         | CUSIP: 037411AY1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    114000 | PA      | $99179.34     | 0.02%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP UBER TECHNOLOGIES INC                                                           | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -121860 | PA      | $-121860.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                               | GFL Environmental Inc                                                               | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    496000 | PA      | $499228.96    | 0.09%             | 2026-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | OneMain Finance Corp                                                                | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     44000 | PA      | $37414.77     | 0.01%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | OneMain Finance Corp                                                                | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    389000 | PA      | $376541.96    | 0.06%             | 2026-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                              | Sable International Finance Ltd                                                     | CUSIP: 000000000<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    279000 | PA      | $246217.50    | 0.04%             | 2027-09-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Planview Parent, Inc.                               | Planview Parent, Inc. 2nd Lien Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    195000 | PA      | $178425.00    | 0.03%             | 2028-12-18      | Floating      | 9.62%                 | No            |                  3 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP ARCHROCK PARTNERS LP                                                            | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -771610 | PA      | $-771610.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                              | TK Elevator Midco GmbH                                                              | CUSIP: 000000000<br>LEI: 254900K869UN2ZWVB351 | Long             | DBT              | CORP              | DE        |    235000 | PA      | $219904.10    | 0.04%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-OA6                                                     | CUSIP: 12668BD91<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3509736 | PA      | $2775236.87   | 0.48%             | 2046-07-25      | Floating      | 2.68%                 | No            |                  2 | On Loan: No      |
| THAMES WATER KEMBLE FINA                            | Thames Water Kemble Finance PLC                                                     | CUSIP: 000000000<br>LEI: 213800S7UU2MQXYJQO60 | Long             | DBT              | CORP              | GB        |    168000 | PA      | $180055.68    | 0.03%             | 2026-05-19      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $85596.66     | 0.01%             | 2029-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                      | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2228000 | PA      | $2076654.61   | 0.36%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Mattel Inc                                          | Mattel Inc                                                                          | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    326000 | PA      | $297245.59    | 0.05%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP VERIZON COMMUNICATIONS INC                                                      | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -917188 | PA      | $-917187.50   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                            | LCM Investments Holdings II LLC                                                     | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    373000 | PA      | $318727.44    | 0.06%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                              | Match Group Holdings II LLC                                                         | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    635000 | PA      | $542442.40    | 0.09%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                           | Ball Corp                                                                           | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     46000 | PA      | $39614.67     | 0.01%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                  | CNX Resources Corp                                                                  | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    139000 | PA      | $135177.50    | 0.02%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                                | Heimstaden Bostad AB                                                                | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $71704.96     | 0.01%             | 2027-02-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                             | Romanian Government International Bond                                              | CUSIP: 77586RAL4<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    516000 | PA      | $424990.50    | 0.07%             | 2032-03-27      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                | Enel Finance International NV                                                       | CUSIP: 29278GAA6<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1250000 | PA      | $1188559.24   | 0.21%             | 2027-05-25      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| LIBERTY BROADBAND CORP                              | Liberty Broadband Corp                                                              | CUSIP: 530307AA5<br>LEI: 549300MIX43II8JLN536 | Long             | DBT              | CORP              | US        |   1018000 | PA      | $971880.24    | 0.17%             | 2050-09-30      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp                                     | Sealed Air Corp                                                                     | CUSIP: 81211KAW0<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     54000 | PA      | $54675.00     | 0.01%             | 2024-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                    | HealthEquity Inc                                                                    | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    814000 | PA      | $758110.76    | 0.13%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2006-OA16                                                    | CUSIP: 23242GAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2990885 | PA      | $2697725.47   | 0.47%             | 2046-10-25      | Floating      | 2.64%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                             | Booz Allen Hamilton Inc                                                             | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    352000 | PA      | $333857.92    | 0.06%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC   | Foundation Building Materials Holding Company LLC 2021 Term Loan                    | CUSIP: 35039KAB2<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |     75367 | PA      | $69211.36     | 0.01%             | 2028-01-31      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| MINERVA MERGER SUB INC                              | Minerva Merger Sub Inc                                                              | CUSIP: 60337JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    999000 | PA      | $904095.00    | 0.16%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                            | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                  | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              |  | US        |    220000 | PA      | $196123.40    | 0.03%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                                 | NuStar Logistics LP                                                                 | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27656.88     | 0.00%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                              | Oman Government International Bond                                                  | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    309000 | PA      | $275010.00    | 0.05%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                              | Star Energy Geothermal Wayang Windu Ltd                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    164540 | PA      | $155212.64    | 0.03%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EVERARC ESCROW SARL                                 | EverArc Escrow Sarl                                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    703000 | PA      | $617733.13    | 0.11%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | Altice France SA/France                                                             | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1406000 | PA      | $1203325.10   | 0.21%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| PREMIER FOODS FINANCE                               | Premier Foods Finance PLC                                                           | CUSIP: 000000000<br>LEI: 2138003G41QDLK9DB177 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $110332.67    | 0.02%             | 2026-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP VIACOM INC (NEW)                                                                | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -590175 | PA      | $-590175.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                  | Energy Transfer LP                                                                  | CUSIP: 29273RBJ7<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494921.29    | 0.09%             | 2045-12-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                      | NRG Energy Inc                                                                      | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    365000 | PA      | $305725.58    | 0.05%             | 2031-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                   | HSBC Holdings PLC                                                                   | CUSIP: 404280BH1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    370000 | PA      | $369771.50    | 0.06%             | 2026-11-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                             | Hungary Government International Bond                                               | CUSIP: 445545AP1<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    450000 | PA      | $456621.21    | 0.08%             | 2029-06-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | Sirius XM Radio Inc                                                                 | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    349000 | PA      | $342892.50    | 0.06%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                                | Colombia Government International Bond                                              | CUSIP: 195325DL6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    477000 | PA      | $436097.25    | 0.08%             | 2027-04-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SkyMiles IP Ltd.                                    | SkyMiles IP Ltd. 2020 Skymiles Term Loan B                                          | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |    381000 | PA      | $384524.25    | 0.07%             | 2027-10-20      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | SWP: USD 1.731000 08-OCT-2036                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  32800000 | OU      | $4233418.03   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAG0<br>LEI: N/A                  | Long             | DBT              |  | US        |     60000 | PA      | $58235.84     | 0.01%             | 2025-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP AMERICAN BUILDERS & CONTRACTOR                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -323010 | PA      | $-323010.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                            | Occidental Petroleum Corp                                                           | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     49000 | PA      | $54145.00     | 0.01%             | 2046-03-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| RegionalCare Hospital Partners Holdings, Inc.       | RegionalCare Hospital Partners Holdings, Inc. 2018 Term Loan B                      | CUSIP: 75915TAD4<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    145759 | PA      | $137404.00    | 0.02%             | 2025-11-16      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                            | Live Nation Entertainment Inc                                                       | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    605000 | PA      | $576262.50    | 0.10%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT                            | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                               | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    387000 | PA      | $336123.04    | 0.06%             | 2027-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RAPTOR ACQ/RAPTOR CO-ISS                            | Raptor Acquisition Corp / Raptor Co-Issuer LLC                                      | CUSIP: 75383KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $205222.50    | 0.04%             | 2026-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                               | Rio Tinto Finance USA PLC                                                           | CUSIP: 76720AAD8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $414545.57    | 0.07%             | 2042-03-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK SECURITIES INC                        | RRP FNMA 30YR UMBS                                                                  | CUSIP: 000000000<br>LEI: 9J6MBOOO7BECTDTUZW19 | Short            | RA               | CORP              | US        |  -5805051 | PA      | $-5805050.85  | -1.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                 | Cheniere Energy Inc                                                                 | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   2416000 | PA      | $2352338.40   | 0.41%             | 2028-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ICAHN ENTERPRISES LP                                                            | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -597379 | PA      | $-597378.75   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                            | Weatherford International Ltd                                                       | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    266000 | PA      | $240543.80    | 0.04%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CEDAR FAIR LP                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -316838 | PA      | $-316837.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                             | K Hovnanian Enterprises Inc                                                         | CUSIP: 48251UAF5<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    284000 | PA      | $278604.00    | 0.05%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP APACHE CORP                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -521000 | PA      | $-521000.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                  | ITRAXX.XO.37.V1 5YR RTP @ 600.0000                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | US        |    178000 | OU      | $475.47       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                        | Barclays PLC                                                                        | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    585000 | PA      | $475488.00    | 0.08%             | 2028-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP UNITED AIRLINES 2020-1 CLASS A                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -531255 | PA      | $-531255.15   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Banff Merger Sub Inc                                | Banff Merger Sub Inc 2021 USD 2nd Lien Term Loan                                    | CUSIP: 000000000<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    529000 | PA      | $494615.00    | 0.09%             | 2026-02-27      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                  | Ukraine Government International Bond                                               | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    226000 | PA      | $40680.00     | 0.01%             | 2025-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                       | CommScope Inc                                                                       | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    188000 | PA      | $155570.00    | 0.03%             | 2028-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                            | Altice France Holding SA                                                            | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   1864000 | PA      | $1760361.60   | 0.30%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP AT&T INC                                                                        | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2338219 | PA      | $-2338218.75  | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA    | RRP MAF SUKUK LTD                                                                   | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -305094 | PA      | $-305093.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP MOZART DEBT MERGER SUB INC                                                      | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1085542 | PA      | $-1085542.50  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                     | Lamb Weston Holdings Inc                                                            | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |   1153000 | PA      | $1081738.47   | 0.19%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CENTENE COR                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1127270 | PA      | $-1127270.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                              | Nationstar Mortgage Holdings Inc                                                    | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    136000 | PA      | $113093.34    | 0.02%             | 2030-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TML HOLDINGS PTE LTD                                | TML Holdings Pte Ltd                                                                | CUSIP: 000000000<br>LEI: 254900EBGMM47QH02V57 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $174912.50    | 0.03%             | 2026-06-09      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                    | TRESTLES CLO 2017-1 Ltd                                                             | CUSIP: 89531FAU1<br>LEI: 254900QSBDX181YYBH38 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $233762.60    | 0.04%             | 2032-04-25      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| NBK TIER 1 FNC LTD                                  | NBK Tier 1 Ltd                                                                      | CUSIP: 62879NAA5<br>LEI: 5493000G4QCCEE8YHF19 | Long             | DBT              | CORP              | AE        |    556000 | PA      | $500330.50    | 0.09%             | 2026-08-24      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ELEMENT SOLUTIONS INC                                                           | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1485226 | PA      | $-1485226.25  | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                             | LCPR Senior Secured Financing DAC                                                   | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    921000 | PA      | $808055.38    | 0.14%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                           | Crocs Inc Term Loan B                                                               | CUSIP: 000000000<br>LEI: 549300B0J6YCXD63OG72 | Long             | LON              | CORP              | US        |    712337 | PA      | $668962.79    | 0.12%             | 2029-02-20      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CAESARS ENTERTAINMENT INC                                                       | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -323950 | PA      | $-323950.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| DOBANK SPA                                          | doValue SpA                                                                         | CUSIP: 000000000<br>LEI: 8156007AF7DB5FE05555 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $87430.83     | 0.02%             | 2026-07-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                                  | CP Atlas Buyer Inc                                                                  | CUSIP: 12597YAA7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |     84000 | PA      | $66150.00     | 0.01%             | 2028-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SRS Distribution Inc.                               | SRS Distribution Inc. 2022 Incremental Term Loan                                    | CUSIP: 78466YAQ1<br>LEI: 549300ZQ3XP75BCYM468 | Long             | LON              | CORP              | US        |    288584 | PA      | $274454.96    | 0.05%             | 2028-06-02      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CALPINE CORP                                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -173794 | PA      | $-173793.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| GYP HOLDINGS III CORP                               | GYP Holdings III Corp                                                               | CUSIP: 36261NAA5<br>LEI: 549300055I1KJWZH9690 | Long             | DBT              | CORP              | US        |    300000 | PA      | $243000.00    | 0.04%             | 2029-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                              | Williams Scotsman International Inc                                                 | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    316000 | PA      | $296298.98    | 0.05%             | 2028-08-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                             | Global Aircraft Leasing Co Ltd                                                      | CUSIP: 37960JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    274896 | PA      | $210982.68    | 0.04%             | 2024-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                        | Novelis Corp                                                                        | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1059000 | PA      | $979612.07    | 0.17%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                            | Western Midstream Operating LP                                                      | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    978000 | PA      | $874923.69    | 0.15%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT                            | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                               | CUSIP: 667449AC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    277000 | PA      | $212704.01    | 0.04%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                        | SM Energy Co                                                                        | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     72000 | PA      | $70830.00     | 0.01%             | 2025-06-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                 | NCL Corp Ltd                                                                        | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    140000 | PA      | $112224.00    | 0.02%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                                 | White Cap Buyer LLC                                                                 | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    617000 | PA      | $521352.66    | 0.09%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP LOWES COMPANIES INC                                                             | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -367000 | PA      | $-367000.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | Tenet Healthcare Corp                                                               | CUSIP: 88033GDL1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     61000 | PA      | $56730.00     | 0.01%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                  | Chase Home Lending Mortgage Trust 2019-ATR1                                         | CUSIP: 16158RAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    472841 | PA      | $472575.38    | 0.08%             | 2049-04-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| WOORI BANK                                          | Woori Bank                                                                          | CUSIP: 000000000<br>LEI: 549300VUVMRL6RE7R376 | Long             | DBT              | CORP              | KR        |    250000 | PA      | $236609.38    | 0.04%             | 2024-10-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BANK OF EAST ASIA LTD                               | Bank of East Asia Ltd/The                                                           | CUSIP: 000000000<br>LEI: CO6GC26LCGGRTUESIP55 | Long             | DBT              | CORP              | HK        |    250000 | PA      | $236250.00    | 0.04%             | 2024-09-19      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                            | Clear Channel Outdoor Holdings Inc                                                  | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1291000 | PA      | $1038377.12   | 0.18%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SS&C European Holdings Sarl                         | SS&C European Holdings Sarl 2018 Term Loan B4                                       | CUSIP: 78466DBE3<br>LEI: 529900POY8H7NPPNKK71 | Long             | LON              | CORP              | US        |     70523 | PA      | $68793.25     | 0.01%             | 2025-04-16      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP APACHE CORPORATION                                                              | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -424500 | PA      | $-424500.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP SPRINT CAPITAL CORPORATION                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -924885 | PA      | $-924885.00   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                            | Neuberger Berman Loan Advisers CLO 37 Ltd                                           | CUSIP: 64133GAV2<br>LEI: 5493006JG853WBZS5J73 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $379391.80    | 0.07%             | 2031-07-20      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-OA2                                                     | CUSIP: 02149LAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2113984 | PA      | $1815059.92   | 0.31%             | 2047-03-25      | Floating      | 1.48%                 | No            |                  2 | On Loan: No      |
| CDK Global, Inc.                                    | CDK Global, Inc. 2022 USD Term Loan B                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    129000 | PA      | $125211.27    | 0.02%             | 2029-07-06      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC                  | RRP WYNN LAS VE                                                                     | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -172190 | PA      | $-172190.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Magenta Buyer LLC                                   | Magenta Buyer LLC 2021 USD 1st Lien Term Loan                                       | CUSIP: 55910RAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    800680 | PA      | $759789.41    | 0.13%             | 2028-07-27      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                               | Icahn Enterprises LP / Icahn Enterprises Finance Corp                               | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    842000 | PA      | $808252.64    | 0.14%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP PETSMART LLC                                                                    | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -666775 | PA      | $-666775.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                            | Hilcorp Energy I LP / Hilcorp Finance Co                                            | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $31762.50     | 0.01%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO Holdings LLC / CCO Holdings Capital Corp                                        | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    658000 | PA      | $627041.10    | 0.11%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                              | Clearway Energy Operating LLC                                                       | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    335000 | PA      | $285350.26    | 0.05%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                            | Consolidated Communications Inc                                                     | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    861000 | PA      | $740460.00    | 0.13%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITGO HOLDING INC                                   | Citgo Holding Inc                                                                   | CUSIP: 17302WAB4<br>LEI: 549300NYHOALWZ2BSL72 | Long             | DBT              | CORP              | US        |    344000 | PA      | $342280.00    | 0.06%             | 2024-08-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                            | Prime Security Services Borrower LLC / Prime Finance Inc                            | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    626000 | PA      | $636185.02    | 0.11%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                      | Long Beach Mortgage Loan Trust 2006-7                                               | CUSIP: 54251TAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5231051 | PA      | $2374749.02   | 0.41%             | 2036-08-25      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| Metinvest BV                                        | Metinvest BV                                                                        | CUSIP: 000000000<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    302000 | PA      | $116307.75    | 0.02%             | 2026-04-23      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| INGEVITY CORP                                       | Ingevity Corp                                                                       | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |    105000 | PA      | $93167.55     | 0.02%             | 2028-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services, Inc.           | Sedgwick Claims Management Services, Inc. 2018 Term Loan B                          | CUSIP: 81527CAL1<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    175523 | PA      | $169735.95    | 0.03%             | 2025-12-31      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Ascend Learning, LLC                                | Ascend Learning, LLC 2021 2nd Lien Term Loan                                        | CUSIP: 04349HAM6<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    157000 | PA      | $138160.00    | 0.02%             | 2029-12-10      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| PTC Inc                                             | PTC Inc                                                                             | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    242000 | PA      | $229532.29    | 0.04%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 30YR UMBS                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1915539 | PA      | $-1915539.42  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| MPLX LP                                             | MPLX LP                                                                             | CUSIP: 55336VBN9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    235000 | PA      | $233032.95    | 0.04%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP CONSOLIDATED COMMUNICATIONS IN                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -625800 | PA      | $-625800.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| OPEN TEXT HOLDINGS INC                              | Open Text Holdings Inc                                                              | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $349345.71    | 0.06%             | 2030-02-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| LEGENDS HOSPITALITY HOLD                            | Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc              | CUSIP: 52473NAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    114000 | PA      | $102756.18    | 0.02%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CASINO GUICHARD PERRACHO                            | Casino Guichard Perrachon SA                                                        | CUSIP: 000000000<br>LEI: 969500VHL8F83GBL6L29 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $66177.72     | 0.01%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                | SWAP/CDSWAP/SCDS: (CMACG)                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     17744 | OU      | $-135.10      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC              | PURCHASED EUR / SOLD USD                                                            | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | XX        |         1 | NC      | $-17512.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| A-L Parent LLC                                      | A-L Parent LLC 2016 1st Lien Term Loan                                              | CUSIP: 00165HAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2023-12-01      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                   | Citigroup Mortgage Loan Trust 2006-FX1                                              | CUSIP: 17309YAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350535 | PA      | $261902.98    | 0.05%             | 2036-10-25      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                              | Clydesdale Acquisition Holdings Inc                                                 | CUSIP: 18972EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    684000 | PA      | $690648.48    | 0.12%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | OneMain Finance Corp                                                                | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    141000 | PA      | $110685.00    | 0.02%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP ELECTRICITE                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -6075000 | PA      | $-6075000.00  | -1.05%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP GARTNER INC                                                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -335256 | PA      | $-335256.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP SBA COMMUNI                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -699221 | PA      | $-699221.25   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                                | Utah Acquisition Sub Inc                                                            | CUSIP: 62854AAN4<br>LEI: 549300A0CD4KNFGIIS89 | Long             | DBT              | CORP              | US        |    650000 | PA      | $615195.32    | 0.11%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                            | Microchip Technology Inc                                                            | CUSIP: 595017AU8<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    411000 | PA      | $425590.50    | 0.07%             | 2024-11-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                         | FSWP: USD 1.610000 28-MAR-2032                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  10600000 | OU      | $974398.74    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| ING GROEP NV                                        | ING Groep NV                                                                        | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1750000 | PA      | $1345213.68   | 0.23%             | 2027-05-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                               | Icahn Enterprises LP / Icahn Enterprises Finance Corp                               | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    534000 | PA      | $530881.49    | 0.09%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                       | Life Time Inc                                                                       | CUSIP: 53190FAA3<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    329000 | PA      | $309266.58    | 0.05%             | 2026-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                                        | QUALCOMM Inc                                                                        | CUSIP: 747525AJ2<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    400000 | PA      | $427795.25    | 0.07%             | 2035-05-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                   | Service Corp International/US                                                       | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    107000 | PA      | $107000.00    | 0.02%             | 2029-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LIFEPT/LEGACY LIFEPT                                | RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc                  | CUSIP: 53219LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129000 | PA      | $121260.00    | 0.02%             | 2026-12-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SES SA                                              | SES SA                                                                              | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $86874.22     | 0.01%             | 2026-05-27      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                  | Alternative Loan Trust 2007-12T1                                                    | CUSIP: 02150LAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1677303 | PA      | $934503.91    | 0.16%             | 2037-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                           | Crocs Inc                                                                           | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |    191000 | PA      | $148068.93    | 0.03%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                   | RRP CITIGROUP I                                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1622500 | PA      | $-1622500.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                                   | Amsted Industries Inc                                                               | CUSIP: 032177AH0<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |    185000 | PA      | $179596.15    | 0.03%             | 2027-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                              | VICI Properties LP / VICI Note Co Inc                                               | CUSIP: 92564RAK1<br>LEI: N/A                  | Long             | DBT              |  | US        |    128000 | PA      | $119337.25    | 0.02%             | 2028-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP UBS GROUP AG                                                                    | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1257812 | PA      | $-1257812.50  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP ARD FINANCE                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -601944 | PA      | $-601944.33   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| UNIQUE PUB FINANCE CO                               | Unique Pub Finance Co PLC/The                                                       | CUSIP: 000000000<br>LEI: 213800FOMWLKHQTI5562 | Long             | ABS-O            | CORP              | GB        |     50000 | PA      | $69678.39     | 0.01%             | 2032-03-30      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria                     | Nigeria Government International Bond                                               | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    208000 | PA      | $145600.00    | 0.03%             | 2032-02-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                         | RRP CAESARS ENTERTAINMENT INC                                                       | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1338240 | PA      | $-1338240.00  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| RIZAL COMMERCIAL BANKING                            | Rizal Commercial Banking Corp                                                       | CUSIP: 000000000<br>LEI: CIKZWI6KV077KV2E2J69 | Long             | DBT              | CORP              | PH        |    200000 | PA      | $185225.00    | 0.03%             | 2025-08-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                               | NGL Energy Operating LLC / NGL Energy Finance Corp                                  | CUSIP: 62922LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $429377.90    | 0.07%             | 2026-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                 | SoftBank Group Corp                                                                 | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $84319.10     | 0.01%             | 2027-01-06      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                                  | Panama Government International Bond                                                | CUSIP: 698299BF0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    360000 | PA      | $349042.50    | 0.06%             | 2028-03-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP TEACHERS INSURANCE AND ANNUITY                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -602000 | PA      | $-602000.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                          | Fannie Mae Pool                                                                     | CUSIP: 3140X5N82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    278465 | PA      | $286096.42    | 0.05%             | 2049-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | Encompass Health Corp                                                               | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    510000 | PA      | $470403.60    | 0.08%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HERENS MIDCO SARL                                   | Herens Midco Sarl                                                                   | CUSIP: 000000000<br>LEI: 222100BJH5XPZD1JHF79 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $71604.80     | 0.01%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP AVAYA INC.                                                                      | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -379208 | PA      | $-379207.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                              | Telecom Italia Capital SA                                                           | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    569000 | PA      | $448273.83    | 0.08%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                          | FedEx Corp                                                                          | CUSIP: 31428XBA3<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    500000 | PA      | $472004.55    | 0.08%             | 2035-02-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FOOD SERVICE PROJECT SL                             | Food Service Project SA                                                             | CUSIP: 000000000<br>LEI: 95980020140005812514 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $87237.05     | 0.02%             | 2027-01-21      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                            | Chobani LLC / Chobani Finance Corp Inc                                              | CUSIP: 17027NAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    846000 | PA      | $762677.46    | 0.13%             | 2028-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Quorum Health Corporation                           | Quorum Health Corporation 2020 Term Loan                                            | CUSIP: 74909HAE9<br>LEI: 549300PO3E4YREFT1I57 | Long             | LON              | CORP              | US        |    299663 | PA      | $188038.77    | 0.03%             | 2025-04-29      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| JERROLD FINCO PLC                                   | Jerrold Finco PLC                                                                   | CUSIP: 000000000<br>LEI: 213800F7AYNHLL1BPR31 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $101990.74    | 0.02%             | 2027-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                              | Sunoco LP / Sunoco Finance Corp                                                     | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74620.88     | 0.01%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP BIG RIVER STEEL LLC                                                             | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1078735 | PA      | $-1078735.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                            | Pattern Energy Operations LP / Pattern Energy Operations Inc                        | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    578000 | PA      | $536199.04    | 0.09%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                 | Go Daddy Operating Co LLC / GD Finance Co Inc                                       | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    261000 | PA      | $232348.73    | 0.04%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Voya Financial Inc                                  | Voya Financial Inc                                                                  | CUSIP: 45685EAG1<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1040950.00   | 0.18%             | 2053-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AMC Networks Inc                                    | AMC Networks Inc                                                                    | CUSIP: 00164VAE3<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    331000 | PA      | $317760.00    | 0.05%             | 2025-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                      | Bombardier Inc                                                                      | CUSIP: 097751BM2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $48750.00     | 0.01%             | 2025-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                           | RRP FNMA 40YR REPERFORMING MODIFIE                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -5306218 | PA      | $-5306218.43  | -0.92%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                             | Goldman Sachs Group Inc/The                                                         | CUSIP: 38144GAB7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    900000 | PA      | $860400.00    | 0.15%             | 2025-02-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                            | MajorDrive Holdings IV LLC                                                          | CUSIP: 56085RAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    228000 | PA      | $171891.48    | 0.03%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                 | Petroleos Mexicanos                                                                 | CUSIP: 71654QBR2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    177000 | PA      | $117926.25    | 0.02%             | 2045-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                | RRP ROLLS-ROYCE PLC                                                                 | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -951781 | PA      | $-951781.25   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| UPC BROADBAND FINCO BV                              | UPC Broadband Finco BV                                                              | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    574000 | PA      | $507507.84    | 0.09%             | 2031-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                | WR Grace Holdings LLC                                                               | CUSIP: 92943GAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24000 | PA      | $22980.00     | 0.00%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                          | Terex Corp                                                                          | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    421000 | PA      | $375691.98    | 0.06%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                             | RRP SHERWIN-WILLIAMS COMPANY (THE)                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -273575 | PA      | $-273575.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-10

**Name of Applicant:** BlackRock Multi-Sector Income Trust

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer