# EDGAR Filing Document

**Accession Number:** 0001515324
**File Stem:** 0001752724-25-203249
**Filing Date:** 2025-8
**Character Count:** 129292
**Document Hash:** 84b639dea851ced34a8fe06c30d8ae93
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203249.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203249

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ares Dynamic Credit Allocation Fund, Inc.
- **CENTRAL INDEX KEY:** 0001515324

**ORGANIZATION NAME:**
- **EIN:** 454969053
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22535
- **FILM NUMBER:** 251252908

**BUSINESS ADDRESS:**
- **STREET 1:** 1800 AVENUE OF THE STARS
- **STREET 2:** SUITE 1400
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067
- **BUSINESS PHONE:** (310) 201-4200

**MAIL ADDRESS:**
- **STREET 1:** 1800 AVENUE OF THE STARS
- **STREET 2:** SUITE 1400
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ares Senior Credit Strategies Fund, Inc.
- **DATE OF NAME CHANGE:** 20110314

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Ares Dynamic Credit Allocation Fund, Inc.

- **b. Investment Company Act file number:** 811-22535

- **c. CIK number of Registrant:** 0001515324

- **d. LEI of Registrant:** 549300BZI16VZUT2N044

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

  - **Street Address 1:** 1800 AVENUE OF THE STARS

  - **City:** LOS ANGELES

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90067

  - **Telephone number:** 310-201-4200

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

- **a. Name of Series:** Ares Dynamic Credit Allocation Fund, Inc.

- **c. LEI of Series:** 549300BZI16VZUT2N044

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $572602871.15

**Total Liabilities:** $224510093.58

**Net Assets:** $348092777.57

**Delayed Delivery Securities:** $13642702.92

**Cash Not Reported:** $6089345.18

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -449.55000000 | **1-Year:** -3652.38000000 | **5-Year:** -10331.91000000 | **10-Year:** -5155.84000000 | **30-Year:** -1075.09000000

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

- **3-Month:** -1341.25000000 | **1-Year:** -33453.10000000 | **5-Year:** -117639.44000000 | **10-Year:** -29571.91000000 | **30-Year:** -1835.78000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.60%               | 4.12%                | 1.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-382608.22              | $-6208073.11                               |
| Month 2  | $138685.97               | $8048757.08                                |
| Month 3  | $-201970.42              | $3510514.32                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Madison Park Funding Ltd                 | Madison Park Funding LXIX Ltd                                                   | CUSIP: 55822WAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1014624.00   | 0.29%             | 2037-07-25      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| DELL INT LLC / EMC CORP                  | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAF3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1550076.47   | 0.45%             | 2027-07-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2020-III Ltd                                                       | CUSIP: 12560GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1996000 | PA      | $1268090.74   | 0.36%             | 2034-10-20      | None          | 20.26%                | No            |                  3 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                 | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AH4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4008328.00   | 1.15%             | 2028-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                        | Generate CLO 14 Ltd                                                             | CUSIP: 37149TAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501430.50    | 0.14%             | 2037-04-22      | Floating      | 11.03%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2024-III Ltd                                                       | CUSIP: 12576JAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $335006.40    | 0.10%             | 2037-07-21      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| LTI HOLDINGS INC                         | LTI Holdings Inc 2024 Term Loan B                                               | CUSIP: 50217UBF3<br>LEI: 5493003GUY3WBOTOAP97 | Long             | LON              | CORP              | US        |   2917704 | PA      | $2914961.86   | 0.84%             | 2029-07-29      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                    | Molina Healthcare Inc                                                           | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2540880.00   | 0.73%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XII Ltd                                                    | CUSIP: 55818QAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $800.00       | 0.00%             | 2026-07-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| FUGUE FINANCE BV                         | FUGUE FINANCE BV 2025 FUNGIBLE TERM LOAN B                                      | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | US        |    500000 | PA      | $502710.00    | 0.14%             | 2032-01-09      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                         | Empower CLO 2023-3 Ltd                                                          | CUSIP: 29247NAA9<br>LEI: 213800DM8ZNUIQ1JCN40 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $252107.00    | 0.07%             | 2037-01-20      | Floating      | 12.09%                | No            |                  3 | On Loan: No      |
| SPA HOLDINGS 3 OY                        | SPA HOLDINGS 3 OY 2025 USD TERM LOAN B                                          | CUSIP: 000000000<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | FI        |   4500000 | PA      | $4483125.00   | 1.29%             | 2030-05-22      | Floating      | 5.00%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXIV Ltd                                                  | CUSIP: 55820HAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    850000 | PA      | $848930.70    | 0.24%             | 2037-10-16      | Floating      | 10.76%                | No            |                  3 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                 | Summit Midstream Holdings LLC                                                   | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2246043.80   | 0.65%             | 2029-10-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XIV Ltd                                                    | CUSIP: 55818TAJ1<br>LEI: 254900Q2IOW6JYPYIV98 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2164277.50   | 0.62%             | 2030-10-22      | Floating      | 12.30%                | No            |                  3 | On Loan: No      |
| FREEPORT LNG INVESTMENTS LLLP            | Freeport LNG Investments LLLP 2025 Term Loan B                                  | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |   1000000 | PA      | $999380.00    | 0.29%             | 2028-12-21      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                    | GFL Environmental Inc 2025 Term Loan B                                          | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | CA        |   3310811 | PA      | $3308062.84   | 0.95%             | 2032-03-03      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LXVI Ltd                                                   | CUSIP: 55790AAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    560000 | PA      | $547921.36    | 0.16%             | 2037-10-21      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| SHIFT4 PAYMENTS LLC                      | SHIFT4 PAYMENTS LLC 2025 TERM LOAN                                              | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |   1250000 | PA      | $1259762.50   | 0.36%             | 2032-05-10      | Floating      | 3.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                    | Caesars Entertainment Inc                                                       | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1947760.00   | 0.56%             | 2027-07-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                        | Magnetite XXIX Ltd                                                              | CUSIP: 55955JAE7<br>LEI: 549300XSCWZTP19VRZ67 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $253481.75    | 0.07%             | 2037-07-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| KKR Financial CLO Ltd                    | KKR CLO 45a Ltd                                                                 | CUSIP: 48190CAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005547.00   | 0.29%             | 2035-04-15      | Floating      | 11.56%                | No            |                  3 | On Loan: No      |
| MCAFEE LLC                               | McAfee LLC 2024 USD 1st Lien Term Loan B                                        | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |   2992500 | PA      | $2902096.58   | 0.83%             | 2029-03-01      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2021-VII Ltd                                                       | CUSIP: 12567KAA3<br>LEI: 54930089HD7KU5NUS092 | Long             | ABS-CBDO         | CORP              | KY        |   2406120 | PA      | $2422041.30   | 0.70%             | 2035-01-23      | Floating      | 10.89%                | No            |                  3 | On Loan: No      |
| Magnetite CLO Ltd                        | Magnetite XXXVIII Ltd                                                           | CUSIP: 55952HAB0<br>LEI: 529900R1XWW85WSHQ318 | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $191623.50    | 0.06%             | 2037-04-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Blueberry Park CLO                       | Blueberry Park CLO Ltd                                                          | CUSIP: 09609VAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1840000 | PA      | $1411487.92   | 0.41%             | 2037-10-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| PRAIRIE ECI ACQUIROR LP                  | Prairie ECI Acquiror LP 2024 Term Loan B                                        | CUSIP: 73955HAE4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |    343251 | PA      | $345073.68    | 0.10%             | 2029-08-01      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                 | CQP Holdco LP / BIP-V Chinook Holdco LLC                                        | CUSIP: 12657NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1898695.75   | 0.55%             | 2033-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                         | MGM Resorts International                                                       | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2540230.00   | 0.73%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                  | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2569453.98   | 0.74%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                 | Rogers Communications Inc                                                       | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $506803.50    | 0.15%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MINIMAX VIKING GMBH                      | Minimax Viking GmbH 2025 EUR Term Loan B                                        | CUSIP: 55404TAG7<br>LEI: 549300Z5C6IXF1KV0Z78 | Long             | LON              | CORP              | DE        |   1111111 | PA      | $1306203.63   | 0.38%             | 2032-03-17      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| SANDISK CORP                             | SANDISK CORP TERM LOAN B                                                        | CUSIP: 80004YAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2500000 | PA      | $2484375.00   | 0.71%             | 2032-02-20      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Aimco                                    | AIMCO CLO 23 Ltd                                                                | CUSIP: 00901KAC9<br>LEI: 254900JY4GSBXW978G85 | Long             | ABS-CBDO         | CORP              | KY        |   1860000 | PA      | $1753408.98   | 0.50%             | 2038-04-20      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Traverse Midstream Partners LLC          | Traverse Midstream Partners LLC 2017 Term Loan                                  | CUSIP: 89435TAB0<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |   2747164 | PA      | $2750597.96   | 0.79%             | 2028-02-16      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                          | OHA Credit Partners XVI                                                         | CUSIP: 67115MAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1675498 | PA      | $1271067.97   | 0.37%             | 2034-10-18      | None          | 16.78%                | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXI Ltd                                                   | CUSIP: 55819EAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    775000 | PA      | $774510.98    | 0.22%             | 2037-07-23      | Floating      | 10.68%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2021-V Ltd                                                         | CUSIP: 12565HAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2986114 | PA      | $1969004.75   | 0.57%             | 2038-01-15      | None          | 15.30%                | No            |                  3 | On Loan: No      |
| BELL CANADA                              | Bell Telephone Co of Canada or Bell Canada                                      | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $510267.50    | 0.15%             | 2055-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                          | Fair Isaac Corp                                                                 | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2019908.40   | 0.58%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Forest City Enterprises LP               | Forest City Enterprises LP 2019 Term Loan B                                     | CUSIP: 34555QAF7<br>LEI: 54930078MCT017XXRD21 | Long             | LON              | CORP              | US        |   4000731 | PA      | $3870227.46   | 1.11%             | 2025-12-08      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Aimco                                    | AIMCO CLO 22 Ltd                                                                | CUSIP: 00901VAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    410000 | PA      | $332717.05    | 0.10%             | 2037-04-19      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| QUIKRETE HOLDINGS INC                    | Quikrete Holdings Inc                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2832024.25   | 0.81%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                    | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1623734.96   | 0.47%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC              | Project Boost Purchaser LLC 2025 Refinancing Term Loan                          | CUSIP: 74339NAG1<br>LEI: 254900SVSL94NTLSDY26 | Long             | LON              | CORP              | US        |   2985000 | PA      | $2988731.25   | 0.86%             | 2031-07-16      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| OHA Credit Partners Ltd                  | OHA Credit Partners XVII Ltd                                                    | CUSIP: 67120NAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    610000 | PA      | $566979.14    | 0.16%             | 2038-01-18      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                 | Blue Racer Midstream LLC / Blue Racer Finance Corp                              | CUSIP: 095796AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500480.00   | 0.43%             | 2026-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                            | CommScope Inc 2024 Term Loan                                                    | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |   4000000 | PA      | $4043760.00   | 1.16%             | 2029-12-17      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| CNT HOLDINGS I CORP                      | CNT Holdings I Corp 2025 Term Loan                                              | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |   2395526 | PA      | $2400268.83   | 0.69%             | 2032-11-08      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                 | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1726887.24   | 0.50%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                           | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1513500.33   | 0.43%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2539447.50   | 0.73%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                    | Six Flags Entertainment Corp                                                    | CUSIP: 83001WAC8<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   1379000 | PA      | $1379000.00   | 0.40%             | 2025-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC                              | Chobani LLC 2025 Repriced Term Loan B                                           | CUSIP: 17026YAK5<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |   4394042 | PA      | $4404104.19   | 1.27%             | 2027-10-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                   | HAT Holdings I LLC / HAT Holdings II LLC                                        | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3778000 | PA      | $3936131.97   | 1.13%             | 2027-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 49, Ltd.     | Octagon Investment Partners 49 Ltd                                              | CUSIP: 67578DAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003141.00   | 0.29%             | 2037-04-15      | Floating      | 11.59%                | No            |                  3 | On Loan: No      |
| Access CIG LLC                           | Access CIG LLC 2023 Term Loan                                                   | CUSIP: 00435CAS7<br>LEI: 5493002EU9Z6IQMPAN35 | Long             | LON              | CORP              | US        |   2216165 | PA      | $2224121.43   | 0.64%             | 2028-08-18      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                          | OHA Credit Funding 3 LTD                                                        | CUSIP: 67112TAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $995020.00    | 0.29%             | 2038-01-20      | Floating      | 9.27%                 | No            |                  3 | On Loan: No      |
| WILSONART LLC                            | Wilsonart LLC 2024 Term Loan B                                                  | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |   1985000 | PA      | $1952128.40   | 0.56%             | 2031-08-05      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                        | Trimaran Cavu 2021-1 Ltd                                                        | CUSIP: 89624PAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    625000 | PA      | $627004.38    | 0.18%             | 2037-07-23      | Floating      | 12.32%                | No            |                  3 | On Loan: No      |
| Oak Hill Credit                          | OHA Credit Partners XIV Ltd                                                     | CUSIP: 67706YAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    752609 | PA      | $572808.45    | 0.16%             | 2037-07-21      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Blueberry Park CLO                       | Blueberry Park CLO Ltd                                                          | CUSIP: 09609VAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1840000 | PA      | $108813.92    | 0.03%             | 2037-10-20      | Variable      | 0.13%                 | No            |                  3 | On Loan: No      |
| SPRINT LLC                               | Sprint LLC                                                                      | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $5300258.15   | 1.52%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                          | Invesco CLO Ltd                                                                 | CUSIP: 46091AAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $974188.00    | 0.28%             | 2034-07-15      | Floating      | 10.67%                | No            |                  3 | On Loan: No      |
| BEP INTERMEDIATE HOLDCO LLC              | BEP Intermediate Holdco LLC Replacement Term Loan                               | CUSIP: 05554YAD6<br>LEI: 254900510SAMOPG9CQ76 | Long             | LON              | CORP              | US        |   3049258 | PA      | $3053069.32   | 0.88%             | 2031-04-25      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| DATABRICKS INC                           | Databricks Inc Delayed Draw Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    901639 | PA      | $0.00         | 0.00%             | 2031-01-03      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Voya CLO Ltd                             | Voya CLO 2024-2 Ltd                                                             | CUSIP: 92920JAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $354436.60    | 0.10%             | 2037-07-20      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Signal Peak CLO, LLC                     | Signal Peak CLO 11 Ltd                                                          | CUSIP: 82667DAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1570852.50   | 0.45%             | 2037-07-18      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Asurion LLC                              | Asurion LLC 2022 Term Loan B10                                                  | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2449622 | PA      | $2413220.77   | 0.69%             | 2028-08-19      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                      | Medline Borrower LP 2024 USD Add-on Term Loan B                                 | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   2226107 | PA      | $2227197.97   | 0.64%             | 2028-10-23      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| DELTA TOPCO INC                          | Delta TopCo Inc 2025 Term Loan B                                                | CUSIP: 24780DAJ6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1732544 | PA      | $1719237.80   | 0.49%             | 2029-11-30      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| XPO INC                                  | XPO Inc                                                                         | CUSIP: 98379KAA0<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3551560.85   | 1.02%             | 2028-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                        | Magnetite XLIV Ltd                                                              | CUSIP: 55955WAE8<br>LEI: 529900QN6D2QU338OD40 | Long             | ABS-CBDO         | CORP              | US        |   2400000 | PA      | $1982493.60   | 0.57%             | 2037-10-15      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Ballyrock Ltd                            | Ballyrock CLO 26 Ltd                                                            | CUSIP: 05876PAA2<br>LEI: 254900KWGJ97WUSMSQ74 | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $962847.80    | 0.28%             | 2037-07-25      | Floating      | 11.43%                | No            |                  3 | On Loan: No      |
| GLP CAPITAL LP / FIN II                  | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AH2<br>LEI: N/A                  | Long             | DBT              |  | US        |   3000000 | PA      | $3000618.00   | 0.86%             | 2026-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| OHA Loan Funding Ltd                     | OHA Loan Funding 2013-1 Ltd                                                     | CUSIP: 67706FAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1518693.00   | 0.44%             | 2037-04-23      | Floating      | 10.18%                | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LXXI Ltd                                                   | CUSIP: 558182AE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    630000 | PA      | $634680.90    | 0.18%             | 2038-04-23      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| AI AQUA MERGER SUB INC                   | AI Aqua Merger Sub Inc 2024 1st Lien Term Loan B                                | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |   4488750 | PA      | $4479458.29   | 1.29%             | 2028-07-31      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXVII Ltd                                                 | CUSIP: 55817FAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501445.50    | 0.14%             | 2037-04-15      | Floating      | 10.86%                | No            |                  3 | On Loan: No      |
| QXO BUILDING PRODUCTS                    | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1029652.00   | 0.30%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 26 Ltd                       | Elmwood CLO 26 Ltd                                                              | CUSIP: 29004DAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $350537.00    | 0.10%             | 2037-04-18      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Bain Capital Credit CLO, Limited         | Bain Capital Credit CLO 2022-1 Ltd                                              | CUSIP: 05684WAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $632049.00    | 0.18%             | 2035-04-18      | None          | 19.95%                | No            |                  3 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                | HUB International Limited 2025 Term Loan B                                      | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |   2979679 | PA      | $2987932.89   | 0.86%             | 2030-06-20      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXV Ltd                                                   | CUSIP: 55819LAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1504524.00   | 0.43%             | 2032-04-20      | Floating      | 10.63%                | No            |                  3 | On Loan: No      |
| CARLYLE GLOBAL MARKET STRATEGI 10/30 1   | CARLYLE GLOBAL MARKET STRATEGI 10/30 1                                          | CUSIP: 14317TAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3222500 | PA      | $998585.08    | 0.29%             | 2030-10-15      | None          | 15.85%                | No            |                  3 | On Loan: No      |
| STATION CASINOS LLC                      | Station Casinos LLC                                                             | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1230232.80   | 0.35%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Crown Cork & Seal Co Inc                 | Crown Cork & Seal Co Inc                                                        | CUSIP: 228255AH8<br>LEI: 7HLDMDH0ZXNUH6PT7Z42 | Long             | DBT              | CORP              | US        |   4350000 | PA      | $4518318.90   | 1.30%             | 2026-12-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies         | CARLYLE US CLO 2021-11 LTD                                                      | CUSIP: 143124AG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $496973.50    | 0.14%             | 2037-07-25      | Floating      | 10.78%                | No            |                  3 | On Loan: No      |
| HAMILTON PROJECTS ACQUIROR LLC           | Hamilton Projects Acquiror LLC 2024 Term Loan B                                 | CUSIP: 000000000<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |   2197218 | PA      | $2203633.93   | 0.63%             | 2031-05-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                        | Generate Clo 16 Ltd                                                             | CUSIP: 37149WAA1<br>LEI: 213800SVSEDOQON7JV18 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502481.00    | 0.14%             | 2037-07-20      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2021-I Ltd                                                         | CUSIP: 12563KAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1150000 | PA      | $1154189.45   | 0.33%             | 2037-07-25      | Floating      | 10.28%                | No            |                  3 | On Loan: No      |
| OHA Credit Partners Ltd                  | OHA Credit Partners XI Ltd                                                      | CUSIP: 000000000<br>LEI: 549300OYGEU6QQMCEG78 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $225380.00    | 0.06%             | 2037-04-20      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LIX Ltd                                                    | CUSIP: 55822FAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2761967 | PA      | $1767258.39   | 0.51%             | 2037-04-18      | None          | 15.03%                | No            |                  3 | On Loan: No      |
| MDVIP INC                                | MDVIP Inc 2024 Repriced Term Loan B                                             | CUSIP: 56150KAG0<br>LEI: 549300EAB6F7TKRLOT57 | Long             | LON              | CORP              | US        |   2493719 | PA      | $2491374.49   | 0.72%             | 2028-10-16      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXI Ltd                                                   | CUSIP: 55819EAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $983270.00    | 0.28%             | 2037-07-23      | None          | 21.51%                | No            |                  3 | On Loan: No      |
| SOUTH FIELD LLC                          | South Field LLC 2025 Term Loan C                                                | CUSIP: 83783XAE6<br>LEI: 549300M3RBW5ZIH20760 | Long             | LON              | CORP              | US        |    173367 | PA      | $174016.96    | 0.05%             | 2031-08-29      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                        | Magnetite XXIV Ltd                                                              | CUSIP: 55954XAE7<br>LEI: 549300P6T1S83Z2MDF55 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2757081.25   | 0.79%             | 2035-04-15      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| IQVIA INC                                | IQVIA Inc                                                                       | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2850000 | PA      | $2925978.41   | 0.84%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO IV Ltd                       | Elmwood CLO IV Ltd                                                              | CUSIP: 29002KAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1369000 | PA      | $1374432.19   | 0.39%             | 2037-04-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Kaman Corporation                        | Kaman Corporation 2025 Term Loan B                                              | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |   2284483 | PA      | $2280918.96   | 0.66%             | 2032-02-26      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                         | Insight Enterprises Inc                                                         | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1545354.00   | 0.44%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                        | Magnetite XXVIII Ltd                                                            | CUSIP: 55955MAC4<br>LEI: 54930077HHZ1QV5CPQ30 | Long             | ABS-CBDO         | CORP              | KY        |   2802916 | PA      | $2248992.53   | 0.65%             | 2035-01-20      | Variable      | 22.32%                | No            |                  3 | On Loan: No      |
| RR Ltd                                   | RR 19 Ltd                                                                       | CUSIP: 74983BAC5<br>LEI: 549300RJ4N2AJDFNE876 | Long             | ABS-CBDO         | CORP              | KY        |   2471419 | PA      | $2018054.48   | 0.58%             | 2121-10-15      | None          | 15.63%                | No            |                  3 | On Loan: No      |
| ATHENA HOLDCO SAS                        | Athena Holdco SAS 2024 EUR 1st Lien Term Loan B                                 | CUSIP: 000000000<br>LEI: 2549000RJO0263KQGB75 | Long             | LON              | CORP              | FR        |   3019608 | PA      | $3549302.84   | 1.02%             | 2031-04-14      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| RESONETICS LLC                           | Resonetics LLC 2024 Term Loan B                                                 | CUSIP: 76118EAK4<br>LEI: 5493007F3QX6Z23QGO95 | Long             | LON              | CORP              | US        |   2616530 | PA      | $2616451.48   | 0.75%             | 2031-06-18      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                  | DCP Midstream Operating LP                                                      | CUSIP: 26439XAC7<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3866972.82   | 1.11%             | 2030-08-16      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| FOX CORP                                 | Fox Corp                                                                        | CUSIP: 35137LAN5<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3245933.13   | 0.93%             | 2033-10-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ASTORIA ENERGY LLC                       | ASTORIA ENERGY LLC 2025 TERM LOAN B                                             | CUSIP: 04626LAJ8<br>LEI: 549300BXD26J7I0IPB62 | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.57%             | 2032-06-16      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                  | Dryden 115 CLO Ltd                                                              | CUSIP: 26248HAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1020013.00   | 0.29%             | 2037-04-18      | Floating      | 11.37%                | No            |                  3 | On Loan: No      |
| OHA Loan Funding Ltd                     | OHA Loan Funding 2016-1 Ltd                                                     | CUSIP: 67110VAC1<br>LEI: 54930016024GMIAF7A82 | Long             | ABS-CBDO         | CORP              | KY        |   3612679 | PA      | $2181082.69   | 0.63%             | 2037-07-20      | None          | 19.10%                | No            |                  3 | On Loan: No      |
| WR Grace & Co-Conn                       | WR Grace & Co-Conn 2021 Term Loan B                                             | CUSIP: 92943HAB5<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |   3226181 | PA      | $3227536.44   | 0.93%             | 2028-09-22      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXII Ltd                                                  | CUSIP: 55817CAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2472260 | PA      | $1190457.47   | 0.34%             | 2048-01-22      | None          | 32.49%                | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd          | Benefit Street Partners Clo XXXVII Ltd                                          | CUSIP: 08182VAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1950000 | PA      | $2090279.10   | 0.60%             | 2038-01-25      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| KODIAK BUILDING PARTNERS INC             | Kodiak Building Partners Inc 2024 Term Loan B                                   | CUSIP: 50011JAF7<br>LEI: 549300Y1Q6ZUH0EXO182 | Long             | LON              | CORP              | US        |   3491250 | PA      | $3358861.80   | 0.96%             | 2031-12-04      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies         | Carlyle US CLO 2024-3 Ltd                                                       | CUSIP: 14319JAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1626992.00   | 0.47%             | 2036-07-25      | Floating      | 11.70%                | No            |                  3 | On Loan: No      |
| Wellman Park CLO Ltd                     | Wellman Park CLO Ltd                                                            | CUSIP: 94972AAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $58517.50     | 0.02%             | 2034-07-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| RR Ltd                                   | RR 38 Ltd                                                                       | CUSIP: 74988GAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    470000 | PA      | $411852.07    | 0.12%             | 2040-04-15      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Elmwood CLO 20 Ltd                       | Elmwood CLO 20 Ltd                                                              | CUSIP: 29002BAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2006180.00   | 0.58%             | 2037-01-17      | Floating      | 10.28%                | No            |                  3 | On Loan: No      |
| Oak Hill Credit                          | OHA Credit Partners XIII Ltd                                                    | CUSIP: 67090VAF8<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |    610000 | PA      | $615439.98    | 0.18%             | 2037-10-21      | Floating      | 10.02%                | No            |                  3 | On Loan: No      |
| AVALARA INC                              | Avalara Inc 2025 Term Loan B                                                    | CUSIP: 05338KAB3<br>LEI: 549300Q16CMW239SS315 | Long             | LON              | CORP              | US        |   4500000 | PA      | $4516065.00   | 1.30%             | 2032-03-26      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Milford Park CLO, Ltd.                   | Milford Park CLO Ltd                                                            | CUSIP: 59966PAW2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1511239.50   | 0.43%             | 2038-01-20      | Fixed         | 7.83%                 | No            |                  3 | On Loan: No      |
| NEP Group Inc                            | NEP Group Inc 2023 Incremental Term Loan B                                      | CUSIP: 62908HAP0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2622435 | PA      | $2373303.91   | 0.68%             | 2026-08-19      | Floating      | 8.59%                 | No            |                  2 | On Loan: No      |
| NOURYON FINANCE BV                       | Nouryon Finance BV 2024 USD Term Loan B2                                        | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    985069 | PA      | $988890.72    | 0.28%             | 2028-04-03      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                          | OHA Credit Funding 12 Ltd                                                       | CUSIP: 67116AAG2<br>LEI: 254900U4U4HIDOPWSL06 | Long             | ABS-CBDO         | CORP              | BM        |   1975000 | PA      | $1996707.23   | 0.57%             | 2036-07-20      | Floating      | 12.27%                | No            |                  3 | On Loan: No      |
| WAND NEWCO 3 INC                         | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                      | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |   4107785 | PA      | $4086752.98   | 1.17%             | 2031-01-30      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXX LTD                                                    | CUSIP: 55822HAE2<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |   2714800 | PA      | $1391419.16   | 0.40%             | 2027-07-16      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LXI Ltd                                                    | CUSIP: 55822PAA2<br>LEI: 2138008EAUXBYEZRP521 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $255037.00    | 0.07%             | 2037-01-20      | Floating      | 11.95%                | No            |                  3 | On Loan: No      |
| Brown Group Holding LLC                  | Brown Group Holding LLC 2022 Incremental Term Loan B2                           | CUSIP: 11565HAD8<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |   2000000 | PA      | $2002040.00   | 0.58%             | 2031-07-01      | Floating      | 6.78%                 | 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        |   2300000 | PA      | $2303044.23   | 0.66%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD          | Golub Capital Partners CLO 60B Ltd                                              | CUSIP: 381734AE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1251400.00   | 0.36%             | 2034-10-25      | Floating      | 10.28%                | No            |                  3 | On Loan: No      |
| Carlyle Global Market Strategies         | Carlyle US CLO 2024-2 Ltd                                                       | CUSIP: 14319AAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1017780.00   | 0.29%             | 2037-04-25      | Floating      | 11.13%                | No            |                  3 | On Loan: No      |
| Herschend Entertainment Company, LLC     | Herschend Entertainment Company LLC 2025 Term Loan B                            | CUSIP: 42778EAG6<br>LEI: 54930087KQ7RPDXK0716 | Long             | LON              | CORP              | US        |   2250000 | PA      | $2263590.00   | 0.65%             | 2032-05-27      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| CREATIVE ARTISTS AGENCY LLC              | Creative Artists Agency LLC 2024 1st Lien Term Loan B                           | CUSIP: 22526WAS7<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |   4253809 | PA      | $4264401.32   | 1.23%             | 2031-10-01      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                 | Univision Communications Inc                                                    | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2029496.16   | 0.58%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                 | Virgin Media Bristol LLC 2023 USD Term Loan Y                                   | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   3000000 | PA      | $2958420.00   | 0.85%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                         | Wand NewCo 3 Inc                                                                | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    500000 | PA      | $525505.50    | 0.15%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Brookhaven Park CLO Ltd                  | Brookhaven Park CLO LTD                                                         | CUSIP: 113525AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502482.00    | 0.14%             | 2037-04-19      | Floating      | 10.77%                | No            |                  3 | On Loan: No      |
| BELFOR HOLDINGS INC                      | Belfor Holdings Inc 2025 USD Term Loan B3                                       | CUSIP: 07768YAQ5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1131641 | PA      | $1131640.99   | 0.33%             | 2030-11-01      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited         | Bain Capital Credit CLO 2020-1 Ltd                                              | CUSIP: 05684EAE1<br>LEI: 2549007DKQFBF2N6NR86 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003187.00   | 0.29%             | 2033-04-18      | Floating      | 11.42%                | No            |                  3 | On Loan: No      |
| TransDigm Inc                            | TransDigm Inc 2023 Term Loan J                                                  | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   3458812 | PA      | $3464692.46   | 1.00%             | 2031-02-28      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                        | Clarios Global LP 2024 USD Term Loan B                                          | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   2791441 | PA      | $2780973.50   | 0.80%             | 2030-05-06      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Pike Corporation                         | Pike Corporation 2021 Incremental Term Loan B                                   | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |   2778994 | PA      | $2793278.32   | 0.80%             | 2028-01-21      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                              | OCP CLO 2021-21 Ltd                                                             | CUSIP: 671000AU1<br>LEI: 2549000M7NBNQ7XU2038 | Long             | ABS-CBDO         | CORP              | KY        |   1700000 | PA      | $1700725.90   | 0.49%             | 2038-01-20      | Fixed         | 7.82%                 | No            |                  3 | On Loan: No      |
| LEVEL 3 FINANCING INC                    | Level 3 Financing Inc                                                           | CUSIP: 527298CK7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    750000 | PA      | $757500.00    | 0.22%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies         | Carlyle US CLO 2024-5 Ltd                                                       | CUSIP: 14319MAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1580000 | PA      | $1326604.34   | 0.38%             | 2036-10-25      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| SOTERA HEALTH HOLDINGS LLC               | Sotera Health Holdings LLC 2024 Term Loan B                                     | CUSIP: 83600VAG6<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |   1736875 | PA      | $1742311.42   | 0.50%             | 2031-05-30      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Freeport LNG Investments LLLP            | Freeport LNG Investments LLLP Term Loan A                                       | CUSIP: 000000000<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |   3699328 | PA      | $3683902.18   | 1.06%             | 2026-11-16      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                           | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2040928.00   | 0.59%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FUGUE FINANCE BV                         | Fugue Finance BV 2025 Term Loan B                                               | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | NL        |   1017828 | PA      | $1023344.84   | 0.29%             | 2032-01-09      | Floating      | 7.58%                 | 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        |   1621484 | PA      | $1451228.18   | 0.42%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                  | United Rentals North America Inc                                                | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2059906.00   | 0.59%             | 2034-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LIII Ltd                                                   | CUSIP: 558201AC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2188000 | PA      | $1120940.84   | 0.32%             | 2035-04-21      | None          | 18.47%                | No            |                  3 | On Loan: No      |
| PROOFPOINT INC                           | Proofpoint Inc 2024 Term Loan                                                   | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |   3989899 | PA      | $3990337.88   | 1.15%             | 2028-08-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Amkor Technology Inc                     | Amkor Technology Inc                                                            | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2506290.78   | 0.72%             | 2027-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                 | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1880717.40   | 0.54%             | 2032-07-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LV Ltd                                                     | CUSIP: 55818AAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $991907.00    | 0.28%             | 2037-07-18      | Floating      | 10.27%                | No            |                  3 | On Loan: No      |
| Univision Communications Inc             | Univision Communications Inc 2022 First Lien Term Loan B                        | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    972431 | PA      | $964330.68    | 0.28%             | 2029-06-24      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                        | Generate Clo 18 Ltd                                                             | CUSIP: 37149XAC5<br>LEI: 213800HEENW837PB8J74 | Long             | ABS-CBDO         | CORP              | KY        |   4190000 | PA      | $4010504.59   | 1.15%             | 2038-01-20      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Dryden Senior Loan Fund                  | Dryden 98 CLO Ltd                                                               | CUSIP: 26248CAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $504631.60    | 0.14%             | 2035-04-20      | Variable      | 20.89%                | No            |                  3 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                 | Rogers Communications Inc                                                       | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1529430.00   | 0.44%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                 | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3190890.75   | 0.92%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                           | Open Text Corp                                                                  | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   3000000 | PA      | $3105690.00   | 0.89%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                          | OHA Credit Funding 1 LTD                                                        | CUSIP: 67115XAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5700000 | PA      | $4370737.20   | 1.26%             | 2037-04-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| MADISON IAQ LLC                          | Madison IAQ LLC 2025 Term Loan B                                                | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   3500000 | PA      | $3507385.00   | 1.01%             | 2032-05-06      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                | Bausch & Lomb Corporation 2023 Incremental Term Loan                            | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |   1965000 | PA      | $1962543.75   | 0.56%             | 2028-09-29      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                 | Ashton Woods USA LLC / Ashton Woods Finance Co                                  | CUSIP: 045086AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2510157.50   | 0.72%             | 2028-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| IRB Holding Corp                         | IRB Holding Corp 2024 1st Lien Term Loan B                                      | CUSIP: 44988LAL1<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |   1744471 | PA      | $1743860.91   | 0.50%             | 2027-12-15      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                           | Transocean Inc                                                                  | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   1061000 | PA      | $745894.02    | 0.21%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Precision Medicine Group LLC             | Precision Medicine Group LLC 2021 Term Loan                                     | CUSIP: 74028HAE5<br>LEI: 5493005RG0LYTBKL8W81 | Long             | LON              | CORP              | US        |   2480550 | PA      | $2476680.56   | 0.71%             | 2027-11-18      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| Century De Buyer LLC                     | Century De Buyer LLC 2024 Term Loan B                                           | CUSIP: 15651FAD8<br>LEI: 254900PQRPPYRTQIDX74 | Long             | LON              | CORP              | US        |   3465088 | PA      | $3483868.27   | 1.00%             | 2030-10-30      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Aimco                                    | Aimco CLO 11 Ltd                                                                | CUSIP: 00140PAC9<br>LEI: 549300VLRW0CEQ83RF89 | Long             | ABS-CBDO         | CORP              | KY        |   2180180 | PA      | $1809686.75   | 0.52%             | 2034-10-17      | None          | 24.62%                | No            |                  3 | On Loan: No      |
| Cogentrix Finance Holdco I LLC           | Cogentrix Finance Holdco I LLC Term Loan B                                      | CUSIP: 19239LAB2<br>LEI: 254900V51P55ABN4UU67 | Long             | LON              | CORP              | US        |   3241875 | PA      | $3247159.26   | 0.93%             | 2032-02-26      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LXIII Ltd                                                  | CUSIP: 55821JAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1588800 | PA      | $1063251.97   | 0.31%             | 2038-07-21      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| WILSONART LLC                            | Wilsonart LLC                                                                   | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $908424.50    | 0.26%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                 | Moss Creek Resources Holdings Inc                                               | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |   3685000 | PA      | $3583994.96   | 1.03%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CPPIB CAPITAL INC                        | CPPIB Capital Inc Term Loan B                                                   | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2894175 | PA      | $2883321.86   | 0.83%             | 2031-08-20      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                      | LCM XV LP                                                                       | CUSIP: 50184YAA6<br>LEI: 549300HV40B88JRNJD93 | Long             | ABS-CBDO         | CORP              | KY        |   5875000 | PA      | $125601.63    | 0.04%             | 2030-07-20      | Variable      | 13.44%                | No            |                  3 | On Loan: No      |
| WILLIAMS COMPANIES INC                   | Williams Cos Inc/The                                                            | CUSIP: 969457BM1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4812786.56   | 1.38%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                          | Invesco CLO 2021-3 Ltd                                                          | CUSIP: 46145KAE4<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-CBDO         | CORP              | KY        |   1130000 | PA      | $400682.18    | 0.12%             | 2034-10-22      | None          | 15.43%                | No            |                  3 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                 | Builders FirstSource Inc                                                        | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1681318.65   | 0.48%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                 | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2583492.80   | 0.74%             | 2028-05-12      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Belo Corp                                | Belo Corp                                                                       | CUSIP: 080555AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3350672.00   | 0.96%             | 2027-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Atrium CDO Corp                          | Atrium XIV LLC                                                                  | CUSIP: 557912AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2810250.80   | 0.81%             | 2037-10-16      | Floating      | 10.76%                | No            |                  3 | On Loan: No      |
| KKR Financial CLO Ltd                    | KKR CLO 50 Ltd                                                                  | CUSIP: 481953AE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1151000 | PA      | $749311.36    | 0.22%             | 2037-04-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| GATES CORPORATION/DE                     | Gates Corp/DE                                                                   | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1038367.00   | 0.30%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies         | Carlyle US CLO 2024-3 Ltd                                                       | CUSIP: 14319JAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $1591560.00   | 0.46%             | 2036-07-25      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Elmwood CLO 32 Ltd                       | Elmwood CLO 32 Ltd                                                              | CUSIP: 29004EAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1770000 | PA      | $1452046.05   | 0.42%             | 2037-10-18      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ILIAD HOLDING SAS                        | Iliad Holding SASU                                                              | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1018190.01   | 0.29%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC                             | Acrisure LLC 2024 1st Lien Term Loan B6                                         | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   1987674 | PA      | $1980578.28   | 0.57%             | 2030-11-06      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                    | Uber Technologies Inc                                                           | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    545000 | PA      | $549851.77    | 0.16%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Wellman Park CLO Ltd                     | Wellman Park CLO Ltd                                                            | CUSIP: 94972AAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $1619580.00   | 0.47%             | 2037-07-20      | None          | 15.10%                | No            |                  3 | On Loan: No      |
| Oak Hill Credit                          | Oak Hill Credit Partners X-R Ltd                                                | CUSIP: 67707DAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1491018.00   | 0.43%             | 2038-04-20      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Ensemble RCM LLC                         | Ensemble RCM LLC 2024 Term Loan B                                               | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |   4288466 | PA      | $4304076.04   | 1.24%             | 2029-08-01      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| TCI-Flatiron CLO Ltd                     | TCI-Flatiron Clo 2018-1 Ltd                                                     | CUSIP: 87232TAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3010395.00   | 0.86%             | 2032-01-29      | Floating      | 10.69%                | No            |                  3 | On Loan: No      |
| Leidos Inc                               | Leidos Inc                                                                      | CUSIP: 808626AE5<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2764332.50   | 0.79%             | 2032-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| OHA Credit Partners Ltd                  | OHA Credit Partners VII Ltd                                                     | CUSIP: 67102UAB5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2672000 | PA      | $1640939.33   | 0.47%             | 2038-02-20      | None          | 21.44%                | No            |                  3 | On Loan: No      |
| STANDARD BUILDING SOLUTI                 | Standard Building Solutions Inc                                                 | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3074051.82   | 0.88%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies         | CARLYLE US CLO 2019-3 LTD                                                       | CUSIP: 14314KAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1650000 | PA      | $1682201.40   | 0.48%             | 2037-04-20      | Floating      | 11.61%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2019-IV Ltd                                                        | CUSIP: 125493AE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1500075.00   | 0.43%             | 2034-10-15      | Floating      | 11.12%                | No            |                  3 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                 | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1760969.51   | 0.51%             | 2034-06-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                    | KKR CLO 46 Ltd                                                                  | CUSIP: 48255WAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $251314.25    | 0.07%             | 2037-10-20      | Floating      | 11.27%                | No            |                  3 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                 | Occidental Petroleum Corp                                                       | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3998249.50   | 1.15%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                 | Live Nation Entertainment Inc                                                   | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3297633.04   | 0.95%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TransMontaigne Operating Company LP      | TransMontaigne Operating Company LP Term Loan B                                 | CUSIP: 89376WAH1<br>LEI: 549300V4T155OZCUJ734 | Long             | LON              | CORP              | US        |   2468031 | PA      | $2475903.72   | 0.71%             | 2028-11-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 28 Ltd                       | Elmwood CLO 28 Ltd                                                              | CUSIP: 29003PAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $507982.50    | 0.15%             | 2037-04-17      | Floating      | 10.28%                | No            |                  3 | On Loan: No      |
| iSolved Inc                              | iSolved Inc 2024 1st Lien Term Loan                                             | CUSIP: 46488HAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2509698 | PA      | $2516749.77   | 0.72%             | 2030-10-15      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                          | Oaktree CLO 2015-1 Ltd                                                          | CUSIP: 67389YAB1<br>LEI: 635400SBDDFQR1OHEJ54 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $73832.00     | 0.02%             | 2027-10-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Asurion LLC                              | Asurion LLC 2021 Term Loan B9                                                   | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    989664 | PA      | $988219.17    | 0.28%             | 2027-07-31      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC             | Alliance Laundry Systems LLC 2024 Term Loan B                                   | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |   4338710 | PA      | $4345217.74   | 1.25%             | 2031-08-19      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                | Sunoco LP                                                                       | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   3125000 | PA      | $3281653.13   | 0.94%             | 2032-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXII Ltd                                                   | CUSIP: 55819VAC0<br>LEI: 254900YXXBTCF4NGD347 | Long             | ABS-CBDO         | CORP              | KY        |   6192986 | PA      | $3291782.62   | 0.95%             | 2033-01-15      | Variable      | 19.74%                | No            |                  3 | On Loan: No      |
| Flatiron CLO Ltd                         | Flatiron CLO 21 Ltd                                                             | CUSIP: 33883TAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250116.50    | 0.07%             | 2037-10-19      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| TRANSOCEAN INC                           | Transocean Inc                                                                  | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $617006.40    | 0.18%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Aimco                                    | Aimco CLO 20 Ltd                                                                | CUSIP: 00901TAC0<br>LEI: 2549009AFNTQKXTAWE65 | Long             | ABS-CBDO         | CORP              | KY        |   1587500 | PA      | $1241039.24   | 0.36%             | 2036-10-16      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ONESKY FLIGHT LLC                        | OneSky Flight LLC                                                               | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3123843.00   | 0.90%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited         | Bain Capital Credit CLO 2024-2 Ltd                                              | CUSIP: 056922AC1<br>LEI: 254900KJZFJF5PZOFD13 | Long             | ABS-CBDO         | CORP              | JE        |    960000 | PA      | $740161.92    | 0.21%             | 2037-07-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LXVII Ltd                                                  | CUSIP: 55822KAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $208441.50    | 0.06%             | 2037-04-25      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding XXXII Ltd                                                  | CUSIP: 55817CAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2994465.00   | 0.86%             | 2037-07-22      | Floating      | 5.28%                 | No            |                  3 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                  | TransMontaigne Partners LLC                                                     | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2860811.25   | 0.82%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BLACKHAWK NETWORK HOLDINGS INC           | Blackhawk Network Holdings Inc 2025 Term Loan B                                 | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |   1492500 | PA      | $1499499.83   | 0.43%             | 2029-03-12      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                   | Lumen Technologies Inc                                                          | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1787187.50   | 0.51%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                 | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1590067.50   | 0.46%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                    | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1606230.83   | 0.46%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                        | Cedar Funding II CLO Ltd                                                        | CUSIP: 15032VAG6<br>LEI: 254900Q56WTD2BRLBE32 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1756655.25   | 0.50%             | 2034-04-20      | Floating      | 11.83%                | No            |                  3 | On Loan: No      |
| Captree Park CLO Ltd                     | Captree Park CLO Ltd                                                            | CUSIP: 14074FAA6<br>LEI: 254900T5FZQKDOCWVD69 | Long             | ABS-CBDO         | CORP              | JE        |    875000 | PA      | $885453.63    | 0.25%             | 2037-07-20      | Floating      | 11.33%                | No            |                  3 | On Loan: No      |
| BOMBARDIER INC                           | Bombardier Inc                                                                  | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1036221.16   | 0.30%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Tallman Park CLO, Ltd.                   | Tallman Park CLO Ltd                                                            | CUSIP: 874779AA9<br>LEI: 549300F1X3PF0EWH0F90 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000100.00   | 0.57%             | 2034-04-20      | Floating      | 10.88%                | No            |                  3 | On Loan: No      |
| Voya CLO Ltd                             | Voya CLO 2021-2 Ltd                                                             | CUSIP: 92919AAY0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1900000 | PA      | $1917985.40   | 0.55%             | 2038-04-20      | Fixed         | 7.94%                 | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd          | Benefit Street Partners Clo XXXV Ltd                                            | CUSIP: 08183CAA3<br>LEI: 254900U0SNDVHNBLRW07 | Long             | ABS-CBDO         | CORP              | JE        |    750000 | PA      | $762837.75    | 0.22%             | 2037-04-25      | Floating      | 10.38%                | No            |                  3 | On Loan: No      |
| White Cap Buyer LLC                      | White Cap Buyer LLC 2024 Term Loan B                                            | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |   2985000 | PA      | $2964105.00   | 0.85%             | 2029-10-19      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                   | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1081000 | PA      | $1116682.73   | 0.32%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                    | SS&C Technologies Inc                                                           | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2595490.00   | 0.75%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                             | Voya CLO 2024-1 Ltd                                                             | CUSIP: 92920EAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2142000 | PA      | $1702675.80   | 0.49%             | 2037-04-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| QUALITYTECH LP                           | QualityTech LP Term Loan B                                                      | CUSIP: 74758JAB3<br>LEI: 549300GWD2FYVWRWCZ90 | Long             | LON              | CORP              | US        |   2500000 | PA      | $2503125.00   | 0.72%             | 2031-11-04      | Floating      | 7.83%                 | No            |                  3 | On Loan: No      |
| NOURYON FINANCE BV                       | Nouryon Finance BV 2024 USD Term Loan B1                                        | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |   1992977 | PA      | $2000450.30   | 0.57%             | 2028-04-03      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies         | Carlyle US CLO 2022-5 Ltd                                                       | CUSIP: 14318NAG2<br>LEI: 549300FMPRIVFSDJTS63 | Long             | ABS-CBDO         | CORP              | KY        |   2095000 | PA      | $2124629.59   | 0.61%             | 2037-10-15      | Floating      | 11.36%                | No            |                  3 | On Loan: No      |
| Kaman Corporation                        | Kaman Corporation 2025 Delayed Draw Term Loan                                   | CUSIP: 48354VAN2<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |    215517 | PA      | $0.00         | 0.00%             | 2032-02-26      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                     | Amentum Holdings Inc                                                            | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3344841.76   | 0.96%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Madison Park XLIV                        | Atrium XV                                                                       | CUSIP: 55822TAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1187500 | PA      | $1186821.94   | 0.34%             | 2037-07-16      | Floating      | 10.76%                | No            |                  3 | On Loan: No      |
| OCP CLO Ltd                              | OCP CLO 2024-34 Ltd                                                             | CUSIP: 67570NAC2<br>LEI: 213800MLX1S56O7NHK45 | Long             | ABS-CBDO         | CORP              | US        |    450000 | PA      | $356974.20    | 0.10%             | 2037-10-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Bain Capital Credit CLO, Limited         | Bain Capital Credit CLO 2021-5 Ltd                                              | CUSIP: 05682FAA8<br>LEI: 2549004H0JOYEPRCTE90 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1939718.00   | 0.56%             | 2034-10-23      | Floating      | 11.04%                | No            |                  3 | On Loan: No      |
| Atrium CDO Corp                          | Atrium XIV LLC                                                                  | CUSIP: 04965HAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6743708 | PA      | $3743054.66   | 1.08%             | 2037-10-16      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Aimco                                    | AIMCO CLO 16 Ltd                                                                | CUSIP: 00901GAC8<br>LEI: 254900Q0PCRO7XC6LM21 | Long             | ABS-CBDO         | CORP              | KY        |   1207849 | PA      | $873774.88    | 0.25%             | 2037-07-17      | None          | 15.45%                | No            |                  3 | On Loan: No      |
| PARKLAND CORP                            | Parkland Corp                                                                   | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2044340.00   | 0.59%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LIX Ltd                                                    | CUSIP: 55822FAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1350000 | PA      | $1350087.75   | 0.39%             | 2037-04-18      | Floating      | 10.67%                | No            |                  3 | On Loan: No      |
| CONSERVICE MIDCO LLC                     | Conservice Midco LLC 2025 Term Loan B                                           | CUSIP: 20848PAK4<br>LEI: 254900F6TNZYKCEM6A28 | Long             | LON              | CORP              | US        |   2475062 | PA      | $2476102.03   | 0.71%             | 2030-05-13      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                         | Flatiron CLO 24 LTD                                                             | CUSIP: 33882HAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $255477.25    | 0.07%             | 2037-01-15      | Floating      | 12.09%                | No            |                  3 | On Loan: No      |
| RRX Ltd                                  | RRX 7 Ltd                                                                       | CUSIP: 40256JAC9<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-CBDO         | CORP              | KY        |   3875000 | PA      | $1802754.63   | 0.52%             | 2122-07-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| PEER HOLDING III BV                      | Peer Holding III BV 2025 USD Term Loan B4B                                      | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |   3960000 | PA      | $3981027.60   | 1.14%             | 2030-10-28      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited         | Bain Capital Credit CLO 2020-2 Ltd                                              | CUSIP: 05683JAA9<br>LEI: 254900JJEDONFKODOF95 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $526797.50    | 0.15%             | 2034-07-19      | None          | 42.40%                | No            |                  3 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                 | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1465000 | PA      | $1521349.64   | 0.44%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                              | Bell Telephone Co of Canada or Bell Canada                                      | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $507148.24    | 0.15%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Confluent Medical Technologies, Inc      | Confluent Medical Technologies Inc 2024 Term Loan B                             | CUSIP: 20717RAD4<br>LEI: 549300I0TF2DFR26JU13 | Long             | LON              | CORP              | US        |   2474904 | PA      | $2471810.45   | 0.71%             | 2029-02-16      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| BETCLIC EVEREST GROUP                    | Betclic Everest Group EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 96950037FKVH5JOEKU82 | Long             | LON              | CORP              | FR        |   1600000 | PA      | $1883815.87   | 0.54%             | 2031-12-10      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                      | Gray Television Inc 2021 Term Loan D                                            | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |   3189610 | PA      | $3080876.13   | 0.89%             | 2028-12-01      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                  | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAD8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    875000 | PA      | $883448.97    | 0.25%             | 2026-06-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                    | Antero Resources Corp                                                           | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   2222000 | PA      | $2280845.23   | 0.66%             | 2029-02-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO XI Ltd                       | Elmwood CLO XI Ltd                                                              | CUSIP: 29002MAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1280000 | PA      | $1125960.96   | 0.32%             | 2034-10-20      | None          | 18.99%                | No            |                  3 | On Loan: No      |
| TRIDENT TPI HOLDINGS INC                 | Trident TPI Holdings Inc                                                        | CUSIP: 89616RAC3<br>LEI: 549300TPLK304J3RNC85 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1591135.50   | 0.46%             | 2028-12-31      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                 | Blue Racer Midstream LLC / Blue Racer Finance Corp                              | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1562906.42   | 0.45%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Ivanti Software Inc                      | Ivanti Software Inc 2020 Revolver                                               | CUSIP: 46583DAC3<br>LEI: 254900GHAXAYKWDX9F60 | Long             | LON              | CORP              | US        |    250000 | PA      | $0.00         | 0.00%             | 2029-06-01      | Fixed         | 8.27%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO I Ltd.                       | Elmwood CLO I Ltd                                                               | CUSIP: 29001QAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2996529.00   | 0.86%             | 2037-04-20      | Floating      | 10.67%                | No            |                  3 | 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        |   1500000 | PA      | $1506435.00   | 0.43%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                     | LifePoint Health Inc                                                            | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    800000 | PA      | $852677.60    | 0.24%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                 | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015015.88   | 0.29%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate, LLC       | Alliant Holdings Intermediate LLC 2024 Term Loan B6                             | CUSIP: 01881UAM7<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000110.00   | 0.29%             | 2031-09-19      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                  | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                           | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $415562.46    | 0.12%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 35 Ltd                       | Elmwood CLO 35 Ltd                                                              | CUSIP: 29004RAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1020000 | PA      | $831264.30    | 0.24%             | 2037-10-18      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Invesco CLO LTD                          | Invesco CLO 2021-3 Ltd                                                          | CUSIP: 46145KAC8<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-CBDO         | CORP              | KY        |    113000 | PA      | $32137.09     | 0.01%             | 2034-10-22      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Lumen Technologies Inc                   | Lumen Technologies Inc 2024 Term Loan A                                         | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    865929 | PA      | $887213.35    | 0.25%             | 2028-06-01      | Floating      | 10.33%                | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                 | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D26<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013738.07   | 0.29%             | 2026-06-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Allegro CLO Ltd                          | Allegro CLO V Ltd                                                               | CUSIP: 01748WAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $300.00       | 0.00%             | 2030-10-16      | None          | 12.43%                | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd          | Benefit Street Partners CLO XIV Ltd                                             | CUSIP: 08181NAE3<br>LEI: 5493008E17UEFI73RC63 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2772170.50   | 0.80%             | 2037-10-20      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| HOWDEN UK REFINANCE / US                 | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1400000 | PA      | $1449567.00   | 0.42%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| QXO INC                                  | QXO Inc Term Loan B                                                             | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |    755556 | PA      | $760058.67    | 0.22%             | 2032-04-30      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2024-IV Ltd                                                        | CUSIP: 17181XAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1830000 | PA      | $1648690.92   | 0.47%             | 2037-10-16      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| KKR APPLE BIDCO LLC                      | KKR Apple Bidco LLC 2025 Term Loan                                              | CUSIP: 48254EAG6<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |   2493734 | PA      | $2487300.48   | 0.71%             | 2031-09-23      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                    | Sixth Street CLO XX Ltd                                                         | CUSIP: 83012RAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1500075.00   | 0.43%             | 2034-10-20      | Floating      | 10.68%                | No            |                  3 | On Loan: No      |
| Howden Group Holdings Ltd                | Howden Group Holdings Ltd 2024 USD 1st Lien Term Loan B                         | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |   1599999 | PA      | $1604175.10   | 0.46%             | 2031-02-15      | Floating      | 7.33%                 | 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        |    613251 | PA      | $616243.30    | 0.18%             | 2027-10-20      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| HAMILTON PROJECTS ACQRR LLC              | HAMILTON PROJECTS ACQRR LLC 2025 TERM LOAN                                      | CUSIP: 000000000<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |   1250000 | PA      | $1253650.00   | 0.36%             | 2031-05-30      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| DATABRICKS INC                           | Databricks Inc Last Out Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4098361 | PA      | $4118852.46   | 1.18%             | 2031-01-03      | Floating      | 8.82%                 | No            |                  3 | On Loan: No      |
| DIEBOLD NIXDORF INC                      | Diebold Nixdorf Inc                                                             | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2389765.50   | 0.69%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                      | Applied Systems Inc 2024 1st Lien Term Loan                                     | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   4406946 | PA      | $4423471.68   | 1.27%             | 2031-02-24      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                 | Western Midstream Operating LP                                                  | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   2125000 | PA      | $1789279.96   | 0.51%             | 2050-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Wellman Park CLO Ltd                     | Wellman Park CLO Ltd                                                            | CUSIP: 94972AAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3570000 | PA      | $111862.38    | 0.03%             | 2034-07-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| TransDigm Inc                            | TransDigm Inc 2024 Term Loan I                                                  | CUSIP: 89364MCC6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    494987 | PA      | $496576.39    | 0.14%             | 2028-08-24      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO VIII Ltd                     | Elmwood CLO VIII Ltd                                                            | CUSIP: 290021AL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2514000 | PA      | $2506440.40   | 0.72%             | 2037-04-20      | Floating      | 10.52%                | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                 | Madison Park Funding LVII Ltd                                                   | CUSIP: 55822JAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1185000 | PA      | $1180508.85   | 0.34%             | 2034-07-27      | Floating      | 10.98%                | No            |                  3 | On Loan: No      |
| Carlyle Global Market Strategies         | Carlyle US CLO 2024-1 Ltd                                                       | CUSIP: 142924AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    548000 | PA      | $557489.17    | 0.16%             | 2037-04-15      | Floating      | 11.18%                | No            |                  3 | On Loan: No      |
| LEVEL 3 FINANCING INC                    | Level 3 Financing Inc                                                           | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1117806 | PA      | $1282411.07   | 0.37%             | 2029-11-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| SOUTH FIELD LLC                          | South Field LLC 2025 Term Loan B                                                | CUSIP: 83783XAD8<br>LEI: 549300M3RBW5ZIH20760 | Long             | LON              | CORP              | US        |   2695935 | PA      | $2706044.32   | 0.78%             | 2031-08-29      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd          | Benefit Street Partners CLO XXXIV Ltd                                           | CUSIP: 081923AA2<br>LEI: 25490002NPB1AZIR3342 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $508666.50    | 0.15%             | 2037-07-25      | Floating      | 11.98%                | No            |                  3 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                 | Builders FirstSource Inc                                                        | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2576988.28   | 0.74%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Electron BidCo Inc                       | Electron BidCo Inc 2021 Term Loan                                               | CUSIP: 28542CAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2992500 | PA      | $2999023.65   | 0.86%             | 2028-11-01      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                       | Ally Financial Inc                                                              | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2276376.94   | 0.65%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Crown Subsea Communications Holding,Inc. | Crown Subsea Communications HoldingInc 2024 Term Loan B1                        | CUSIP: 22860EAJ1<br>LEI: 5493003AYLUE132FIO27 | Long             | LON              | CORP              | US        |   5090344 | PA      | $5117933.73   | 1.47%             | 2031-01-30      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                         | CIFC Funding 2021-VI Ltd                                                        | CUSIP: 12570PAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2009282.00   | 0.58%             | 2034-10-15      | Floating      | 10.77%                | No            |                  3 | On Loan: No      |
| BOMBARDIER INC                           | Bombardier Inc                                                                  | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2500000 | PA      | $2706140.00   | 0.78%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                  | Dryden 104 CLO Ltd                                                              | CUSIP: 26253DAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2878000 | PA      | $2899662.71   | 0.83%             | 2034-08-20      | Floating      | 11.72%                | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** Ares Dynamic Credit Allocation Fund, Inc.

**Signature:** Paul Cho

**Name of Signer:** Paul Cho

**Title:** Chief Accounting Officer