# EDGAR Filing Document

**Accession Number:** 0000910068
**File Stem:** 0001752724-25-204984
**Filing Date:** 2025-8
**Character Count:** 254596
**Document Hash:** 3cb7487dc2b615aba6fee589d39826d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-204984.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-204984

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.
- **CENTRAL INDEX KEY:** 0000910068

**ORGANIZATION NAME:**
- **EIN:** 133735236
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07920
- **FILM NUMBER:** 251255491

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 888-777-0102

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGH INCOME OPPORTUNITY FUND INC
- **DATE OF NAME CHANGE:** 19941230

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY HIGH INCOME OPPORTUNITY FUND INC
- **DATE OF NAME CHANGE:** 19930913

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY HIGH INCOME FUND INC
- **DATE OF NAME CHANGE:** 19930802

## Nport-Ex

Schedule of Investments (unaudited)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount†<br>| Value |
| **Corporate Bonds & Notes — 82.8%** | **Corporate Bonds & Notes — 82.8%** | **Corporate Bonds & Notes — 82.8%** | **Corporate Bonds & Notes — 82.8%** | **Corporate Bonds & Notes — 82.8%** |
| **Communication Services — 14.8%** | **Communication Services — 14.8%** | **Communication Services — 14.8%** | **Communication Services — 14.8%** | **Communication Services — 14.8%** |
| *Diversified Telecommunication Services — 2.9%* | *Diversified Telecommunication Services — 2.9%* | *Diversified Telecommunication Services — 2.9%* | *Diversified Telecommunication Services — 2.9%* | *Diversified Telecommunication Services — 2.9%* |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; $790895<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 4690000<br>| &nbsp;&nbsp;&nbsp; 3429307<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 720000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 305,749<br> \*<sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Secured Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 2770000<br>| &nbsp;&nbsp;&nbsp; 964,749<br> \*<sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp; 436712<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 7/15/29 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 620625<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 1890000<br>| &nbsp;&nbsp;&nbsp; 1568700<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fibercop SpA, Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 9/30/34 | &nbsp;&nbsp; 939000<br>| &nbsp;&nbsp;&nbsp; 883450<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Level 3 Financing Inc., Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 1573871<br>| &nbsp;&nbsp;&nbsp; 1807337<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Level 3 Financing Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 6/30/33 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 437844<br> <sup>(a)</sup><br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *11245368* |
| *Entertainment — 1.0%* | *Entertainment — 1.0%* | *Entertainment — 1.0%* | *Entertainment — 1.0%* | *Entertainment — 1.0%* |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SAS, Senior Secured Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 1830000<br>| &nbsp;&nbsp;&nbsp; 1900100<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings Inc., Senior Notes | &nbsp;&nbsp; 4.279% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 1120000<br>| &nbsp;&nbsp;&nbsp; 838600<br>|
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings Inc., Senior Notes | &nbsp;&nbsp; 5.050% | &nbsp;&nbsp; 3/15/42 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 923100<br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *3661800* |
| *Media — 7.0%* | *Media — 7.0%* | *Media — 7.0%* | *Media — 7.0%* | *Media — 7.0%* |
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Senior Secured Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 726250<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 5/1/32 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1267340<br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 4810000<br>| &nbsp;&nbsp;&nbsp; 4284806<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating <br> Capital Corp., Senior Secured Notes | &nbsp;&nbsp; 3.850% | &nbsp;&nbsp; 4/1/61 | &nbsp;&nbsp; 8520000<br>| &nbsp;&nbsp;&nbsp; 5463255<br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., Senior Secured <br> Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 1224113<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 2768000<br>| &nbsp;&nbsp;&nbsp; 1847640<br>|
| &nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Secured Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1237915<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/30/29 | &nbsp;&nbsp; 3795850<br>| &nbsp;&nbsp;&nbsp; 3912952<br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes (6.750% Cash or 6.750% PIK) | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 2111368<br>| &nbsp;&nbsp;&nbsp; 1928450<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Senior Secured Notes | &nbsp;&nbsp; 11.250% | &nbsp;&nbsp; 2/21/30 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 119205<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; iHeartCommunications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; 627000<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp; 130000<br>| &nbsp;&nbsp;&nbsp; 119946<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC, Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 9/1/31 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 889540<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes III DAC, Senior Secured Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 7/15/28 | &nbsp;&nbsp; 2000000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 2621762<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV, Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 605505<br> <sup>(a)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *26875679* |
| *Wireless Telecommunication Services — 3.9%* | *Wireless Telecommunication Services — 3.9%* | *Wireless Telecommunication Services — 3.9%* | *Wireless Telecommunication Services — 3.9%* | *Wireless Telecommunication Services — 3.9%* |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 1/31/29 | &nbsp;&nbsp; 1550000<br>| &nbsp;&nbsp;&nbsp; 1475260<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 2080000<br>| &nbsp;&nbsp;&nbsp; 1469276<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 1410000<br>| &nbsp;&nbsp;&nbsp; 656970<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 5670000<br>| &nbsp;&nbsp;&nbsp; 3994741<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sprint Capital Corp., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 5910000<br>| &nbsp;&nbsp;&nbsp; 7172689<br>|
| &nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I PLC, Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 462826<br> <sup>(a)</sup><br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *15231762* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **57014609** |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Consumer Discretionary — 16.4%** | **Consumer Discretionary — 16.4%** | **Consumer Discretionary — 16.4%** | **Consumer Discretionary — 16.4%** | **Consumer Discretionary — 16.4%** |
| *Automobile Components — 2.3%* | *Automobile Components — 2.3%* | *Automobile Components — 2.3%* | *Automobile Components — 2.3%* | *Automobile Components — 2.3%* |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; $501511<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 4/1/27 | &nbsp;&nbsp; 2663000<br>| &nbsp;&nbsp;&nbsp; 2664141<br>|
| &nbsp;&nbsp;&nbsp; Clarios Global LP/Clarios US Finance Co., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 1019775<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JB Poindexter & Co. Inc., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1874866<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 4/23/30 | &nbsp;&nbsp; 1220000<br>| &nbsp;&nbsp;&nbsp; 1173114<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/23/32 | &nbsp;&nbsp; 1710000<br>| &nbsp;&nbsp;&nbsp; 1581803<br> <sup>(a)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *8815210* |
| *Automobiles — 1.2%* | *Automobiles — 1.2%* | *Automobiles — 1.2%* | *Automobiles — 1.2%* | *Automobiles — 1.2%* |
| &nbsp;&nbsp;&nbsp; Ford Motor Co., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 2/12/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 421735<br>|
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC, Senior Notes | &nbsp;&nbsp; 3.625% | &nbsp;&nbsp; 6/17/31 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 722129<br>|
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd., Senior Notes | &nbsp;&nbsp; 4.810% | &nbsp;&nbsp; 9/17/30 | &nbsp;&nbsp; 1530000<br>| &nbsp;&nbsp;&nbsp; 1404694<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 3200000<br>| &nbsp;&nbsp;&nbsp; 2222208<br> <sup>(a)</sup><br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *4770766* |
| *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Service Corp. International, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 4/1/27 | &nbsp;&nbsp; 1605000<br>| &nbsp;&nbsp;&nbsp; *1659427*<br>|
| *Hotels, Restaurants & Leisure — 9.5%* | *Hotels, Restaurants & Leisure — 9.5%* | *Hotels, Restaurants & Leisure — 9.5%* | *Hotels, Restaurants & Leisure — 9.5%* | *Hotels, Restaurants & Leisure — 9.5%* |
| &nbsp;&nbsp;&nbsp; 888 Acquisitions Ltd., Senior Secured Notes | &nbsp;&nbsp; 7.558% | &nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp; 2600000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 3089763<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 482568<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 1003302<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival PLC, Senior Notes | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 10/28/29 | &nbsp;&nbsp; 5780000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 6148632<br>|
| &nbsp;&nbsp;&nbsp; Full House Resorts Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 3300000<br>| &nbsp;&nbsp;&nbsp; 3208818<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 12/4/29 | &nbsp;&nbsp; 1367000<br>| &nbsp;&nbsp;&nbsp; 1283492<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 1871000<br>| &nbsp;&nbsp;&nbsp; 1990572<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Finance Ltd., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 1810000<br>| &nbsp;&nbsp;&nbsp; 1840576<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pinnacle Bidco PLC, Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 10/11/28 | &nbsp;&nbsp; 900000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1309083<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp; 2760000<br>| &nbsp;&nbsp;&nbsp; 2778040<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/1/28 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1864045<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 9/15/27 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1001184<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 3028185<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 2550000<br>| &nbsp;&nbsp;&nbsp; 2539158<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 140000<br>| &nbsp;&nbsp;&nbsp; 139380<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 8/26/28 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 1937916<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 1054000<br>| &nbsp;&nbsp;&nbsp; 1013621<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; 1846059<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *36504394* |
| *Household Durables — 0.2%* | *Household Durables — 0.2%* | *Household Durables — 0.2%* | *Household Durables — 0.2%* | *Household Durables — 0.2%* |
| &nbsp;&nbsp;&nbsp; Newell Brands Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *557937*<br> <sup>(a)</sup><br>|
| *Specialty Retail — 2.6%* | *Specialty Retail — 2.6%* | *Specialty Retail — 2.6%* | *Specialty Retail — 2.6%* | *Specialty Retail — 2.6%* |
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 11.500% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 1958967<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 912977<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/1/28 | &nbsp;&nbsp; 1800000<br>| &nbsp;&nbsp;&nbsp; 1448103<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PetSmart Inc./PetSmart Finance Corp., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 2760000<br>| &nbsp;&nbsp;&nbsp; 2684713<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1746713<br>|
| &nbsp;&nbsp;&nbsp; Upbound Group Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1366825<br> <sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *10118298* |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 2060000<br>| &nbsp;&nbsp;&nbsp; $*782800*<br> <sup>(a)</sup><br>|
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **63208832** |
| **Energy — 14.0%** | **Energy — 14.0%** | **Energy — 14.0%** | **Energy — 14.0%** | **Energy — 14.0%** |
| *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *866216*<br> <sup>(a)</sup><br>|
| *Oil, Gas & Consumable Fuels — 13.8%* | *Oil, Gas & Consumable Fuels — 13.8%* | *Oil, Gas & Consumable Fuels — 13.8%* | *Oil, Gas & Consumable Fuels — 13.8%* | *Oil, Gas & Consumable Fuels — 13.8%* |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 530146<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 1990000<br>| &nbsp;&nbsp;&nbsp; 2034273<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 365062<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 2530000<br>| &nbsp;&nbsp;&nbsp; 2420668<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1702226<br> <sup>(a)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 5/28/45 | &nbsp;&nbsp; 4110000<br>| &nbsp;&nbsp;&nbsp; 2840024<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Junior Subordinated Notes (6.625% to 2/15/28 then 3 mo. <br> USD LIBOR + 4.155%) | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1910000<br>| &nbsp;&nbsp;&nbsp; 1908269<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 6920000<br>| &nbsp;&nbsp;&nbsp; 7992820<br>|
| &nbsp;&nbsp;&nbsp; New Generation Gas Gathering LLC, Senior Secured Notes (3 mo. Term SOFR <br> + 5.750%) | &nbsp;&nbsp; 10.016% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 812973<br>| &nbsp;&nbsp;&nbsp; 800778<br> <sup>(a)(g)(h)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; NGPL PipeCo LLC, Senior Notes | &nbsp;&nbsp; 7.768% | &nbsp;&nbsp; 12/15/37 | &nbsp;&nbsp; 1520000<br>| &nbsp;&nbsp;&nbsp; 1738066<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.200% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 1048054<br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 1940000<br>| &nbsp;&nbsp;&nbsp; 1959255<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/27/41 | &nbsp;&nbsp; 4370000<br>| &nbsp;&nbsp;&nbsp; 4318819<br>|
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 6/19/32 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1164614<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 6/2/41 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 743460<br>|
| &nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 638749<br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; 334374<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1144843<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 10/31/29 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 419777<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Junior Subordinated Notes (9.000% to 9/30/29 then <br> 5 year Treasury Constant Maturity Rate + 5.440%) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 2610000<br>| &nbsp;&nbsp;&nbsp; 2539918<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 394597<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 3260000<br>| &nbsp;&nbsp;&nbsp; 3522717<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 5/1/35 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 693307<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 410000<br> <sup>(a)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vermilion Energy Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 730000<br>| &nbsp;&nbsp;&nbsp; 702451<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 4.050% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 327116<br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 3/1/48 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 893929<br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 2/1/50 | &nbsp;&nbsp; 6410000<br>| &nbsp;&nbsp;&nbsp; 5397152<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 701912<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/24/44 | &nbsp;&nbsp; 3190000<br>| &nbsp;&nbsp;&nbsp; 3129564<br>|
| &nbsp;&nbsp;&nbsp; YPF SA, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 7/21/27 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 526141<br> <sup>(a)</sup><br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *53343081* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **54209297** |
| **Financials — 8.9%** | **Financials — 8.9%** | **Financials — 8.9%** | **Financials — 8.9%** | **Financials — 8.9%** |
| *Banks — 2.7%* | *Banks — 2.7%* | *Banks — 2.7%* | *Banks — 2.7%* | *Banks — 2.7%* |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Junior Subordinated Notes (7.750% to 8/16/29 then 5 year <br> Treasury Constant Maturity Rate + 4.899%) | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 8/16/29 | &nbsp;&nbsp; 1470000<br>| &nbsp;&nbsp;&nbsp; 1549784<br> <sup>(a)(f)(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then <br> USD 5 year ICE Swap Rate + 6.185%) | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 12/23/25 | &nbsp;&nbsp; 2290000<br>| &nbsp;&nbsp;&nbsp; $2320560<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, Subordinated Notes (8.113% to 11/3/32 then SOFR + <br> 4.250%) | &nbsp;&nbsp; 8.113% | &nbsp;&nbsp; 11/3/33 | &nbsp;&nbsp; 1440000<br>| &nbsp;&nbsp;&nbsp; 1663099<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Subordinated Notes | &nbsp;&nbsp; 5.710% | &nbsp;&nbsp; 1/15/26 | &nbsp;&nbsp; 2800000<br>| &nbsp;&nbsp;&nbsp; 2806528<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (6.750% to 6/27/26 <br> then 5 year Treasury Constant Maturity Rate + 4.815%) | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/27/26 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 261595<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to 3/27/30 <br> then 5 year Treasury Constant Maturity Rate + 3.913%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1945071<br> <sup>(f)(g)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *10546637* |
| *Capital Markets — 1.2%* | *Capital Markets — 1.2%* | *Capital Markets — 1.2%* | *Capital Markets — 1.2%* | *Capital Markets — 1.2%* |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 917886<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Suisse AG AT1 Claim | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10560000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(h)(i)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; StoneX Escrow Issuer LLC, Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 667170<br> <sup>(a)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; StoneX Group Inc., Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 671284<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/28 then 5 year <br> Treasury Constant Maturity Rate + 4.745%) | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 11/13/28 | &nbsp;&nbsp; 2010000<br>| &nbsp;&nbsp;&nbsp; 2198887<br> <sup>(a)(f)(g)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *4455227* |
| *Consumer Finance — 0.6%* | *Consumer Finance — 0.6%* | *Consumer Finance — 0.6%* | *Consumer Finance — 0.6%* | *Consumer Finance — 0.6%* |
| &nbsp;&nbsp;&nbsp; FirstCash Inc., Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 9/1/28 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 982510<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Navient Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1417797<br>|
| *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *2400307* |
| *Financial Services — 2.9%* | *Financial Services — 2.9%* | *Financial Services — 2.9%* | *Financial Services — 2.9%* | *Financial Services — 2.9%* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 488624<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV, Senior Secured <br> Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 1160000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1712082<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2107418<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Capstone Borrower Inc., Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 427021<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/30/31 | &nbsp;&nbsp; 2640000<br>| &nbsp;&nbsp;&nbsp; 2779608<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1050245<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 819108<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 5/1/27 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 775365<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 390858<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 825884<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *11376213* |
| *Insurance — 0.7%* | *Insurance — 0.7%* | *Insurance — 0.7%* | *Insurance — 0.7%* | *Insurance — 0.7%* |
| &nbsp;&nbsp;&nbsp; Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 375568<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset <br> Investor 2 LLC, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1177313<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MetLife Capital Trust IV, Junior Subordinated Notes | &nbsp;&nbsp; 8.252% | &nbsp;&nbsp; 12/15/37 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1109735<br> <sup>(a)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *2662616* |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 713500<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 821395<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1518170<br> <sup>(a)</sup><br>|
| *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp; *3053065* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **34494065** |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Health Care — 7.4%** | **Health Care — 7.4%** | **Health Care — 7.4%** | **Health Care — 7.4%** | **Health Care — 7.4%** |
| *Health Care Providers & Services — 4.8%* | *Health Care Providers & Services — 4.8%* | *Health Care Providers & Services — 4.8%* | *Health Care Providers & Services — 4.8%* | *Health Care Providers & Services — 4.8%* |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 3/15/27 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; $492803<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 481339<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 2440000<br>| &nbsp;&nbsp;&nbsp; 2087975<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 10.875% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 2540000<br>| &nbsp;&nbsp;&nbsp; 2695237<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; HCA Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 11/15/95 | &nbsp;&nbsp; 6265000<br>| &nbsp;&nbsp;&nbsp; 6824022<br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1299548<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 1031276<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp., Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/1/27 | &nbsp;&nbsp; 1710000<br>| &nbsp;&nbsp;&nbsp; 1711003<br>|
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 1890000<br>| &nbsp;&nbsp;&nbsp; 1893829<br>|
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 268933<br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *18785965* |
| *Pharmaceuticals — 2.6%* | *Pharmaceuticals — 2.6%* | *Pharmaceuticals — 2.6%* | *Pharmaceuticals — 2.6%* | *Pharmaceuticals — 2.6%* |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 1990000<br>| &nbsp;&nbsp;&nbsp; 2008885<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Americas Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 9532<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 147787<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Secured Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 2770000<br>| &nbsp;&nbsp;&nbsp; 2338919<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Par Pharmaceutical Inc., Escrow | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 70000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(a)(h)(i)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 5/9/29 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 885730<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1303651<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 1420000<br>| &nbsp;&nbsp;&nbsp; 1451383<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 10/1/46 | &nbsp;&nbsp; 2550000<br>| &nbsp;&nbsp;&nbsp; 1836680<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *9982567* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **28768532** |
| **Industrials — 10.6%** | **Industrials — 10.6%** | **Industrials — 10.6%** | **Industrials — 10.6%** | **Industrials — 10.6%** |
| *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* |
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 391727<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 196111<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 2990000<br>| &nbsp;&nbsp;&nbsp; 3141648<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 525475<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 271085<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/15/33 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 280112<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 875000<br>| &nbsp;&nbsp;&nbsp; 917847<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1057376<br> <sup>(a)</sup><br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *6781381* |
| *Building Products — 0.6%* | *Building Products — 0.6%* | *Building Products — 0.6%* | *Building Products — 0.6%* | *Building Products — 0.6%* |
| &nbsp;&nbsp;&nbsp; Masterbrand Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 511286<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1749206<br> <sup>(a)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *2260492* |
| *Commercial Services & Supplies — 3.3%* | *Commercial Services & Supplies — 3.3%* | *Commercial Services & Supplies — 3.3%* | *Commercial Services & Supplies — 3.3%* | *Commercial Services & Supplies — 3.3%* |
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 274877<br>|
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 3330000<br>| &nbsp;&nbsp;&nbsp; 3533180<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 3160000<br>| &nbsp;&nbsp;&nbsp; 3467951<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1281820<br>|
| &nbsp;&nbsp;&nbsp; GFL Environmental Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 995289<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RB Global Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1315637<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* |
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; $1841389<br> <sup>(a)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *12710143* |
| *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* |
| &nbsp;&nbsp;&nbsp; Arcosa Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 643836<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JH North America Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 373462<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JH North America Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 7/31/32 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 589993<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp., Senior Notes | &nbsp;&nbsp; 11.875% | &nbsp;&nbsp; 4/30/29 | &nbsp;&nbsp; 2070000<br>| &nbsp;&nbsp;&nbsp; 2331832<br> <sup>(a)</sup><br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *3939123* |
| *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* |
| &nbsp;&nbsp;&nbsp; Carriage Purchaser Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 1290000<br>| &nbsp;&nbsp;&nbsp; 1147348<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; XPO Inc., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1048772<br> <sup>(a)</sup><br>|
| *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | &nbsp;&nbsp; *2196120* |
| *Machinery — 0.6%* | *Machinery — 0.6%* | *Machinery — 0.6%* | *Machinery — 0.6%* | *Machinery — 0.6%* |
| &nbsp;&nbsp;&nbsp; Park-Ohio Industries Inc., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 488729<br>|
| &nbsp;&nbsp;&nbsp; Titan International Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 4/30/28 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; 1738269<br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *2226998* |
| *Passenger Airlines — 2.1%* | *Passenger Airlines — 2.1%* | *Passenger Airlines — 2.1%* | *Passenger Airlines — 2.1%* | *Passenger Airlines — 2.1%* |
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 3670000<br>| &nbsp;&nbsp;&nbsp; 3750461<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 1980000<br>| &nbsp;&nbsp;&nbsp; 2077335<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1148738<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes <br> (11.000% Cash or 4.000% PIK and 8.000% Cash) | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 1517297<br>| &nbsp;&nbsp;&nbsp; 1088660<br> <sup>(a)(d)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *8065194* |
| *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* |
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 741938<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 6/15/33 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 744400<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 376000<br>| &nbsp;&nbsp;&nbsp; 376365<br>|
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1031273<br> <sup>(a)</sup><br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *2893976* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **41073427** |
| **Information Technology — 4.3%** | **Information Technology — 4.3%** | **Information Technology — 4.3%** | **Information Technology — 4.3%** | **Information Technology — 4.3%** |
| *Communications Equipment — 2.2%* | *Communications Equipment — 2.2%* | *Communications Equipment — 2.2%* | *Communications Equipment — 2.2%* | *Communications Equipment — 2.2%* |
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 186874<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 9/1/29 | &nbsp;&nbsp; 566000<br>| &nbsp;&nbsp;&nbsp; 553284<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 3143842<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 3490000<br>| &nbsp;&nbsp;&nbsp; 3512259<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viasat Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/30/31 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1214121<br> <sup>(a)</sup><br>|
| *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *8610380* |
| *Electronic Equipment, Instruments & Components — 0.5%* | *Electronic Equipment, Instruments & Components — 0.5%* | *Electronic Equipment, Instruments & Components — 0.5%* | *Electronic Equipment, Instruments & Components — 0.5%* | *Electronic Equipment, Instruments & Components — 0.5%* |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 1760000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1845325*<br> <sup>(a)</sup><br>|
| *IT Services — 0.6%* | *IT Services — 0.6%* | *IT Services — 0.6%* | *IT Services — 0.6%* | *IT Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; Amentum Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 968067<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 491128<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 831355<br> <sup>(a)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *2290550* |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Software — 0.8%* | *Software — 0.8%* | *Software — 0.8%* | *Software — 0.8%* | *Software — 0.8%* |
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 6/30/32 | &nbsp;&nbsp; 1870000<br>| &nbsp;&nbsp;&nbsp; $1991847<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gen Digital Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/33 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 576432<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Open Text Corp., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; 737740<br> <sup>(a)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *3306019* |
| *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf Inc., Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 3/31/30 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *648671*<br> <sup>(a)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **16700945** |
| **Materials — 3.5%** | **Materials — 3.5%** | **Materials — 3.5%** | **Materials — 3.5%** | **Materials — 3.5%** |
| *Chemicals — 0.4%* | *Chemicals — 0.4%* | *Chemicals — 0.4%* | *Chemicals — 0.4%* | *Chemicals — 0.4%* |
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH, Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 10/3/31 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1371440*<br> <sup>(a)</sup><br>|
| *Containers & Packaging — 0.6%* | *Containers & Packaging — 0.6%* | *Containers & Packaging — 0.6%* | *Containers & Packaging — 0.6%* | *Containers & Packaging — 0.6%* |
| &nbsp;&nbsp;&nbsp; ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK) | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 6/30/27 | &nbsp;&nbsp; 1374482<br>| &nbsp;&nbsp;&nbsp; 65288<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance <br> PLC, Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/29 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1069166<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/15/27 | &nbsp;&nbsp; 1578000<br>| &nbsp;&nbsp;&nbsp; 704947<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/15/27 | &nbsp;&nbsp; 1510000<br>| &nbsp;&nbsp;&nbsp; 674570<br> <sup>(a)</sup><br>|
| *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | &nbsp;&nbsp; *2513971* |
| *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* |
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/33 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 665980<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 920000<br>| &nbsp;&nbsp;&nbsp; 977589<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 2920000<br>| &nbsp;&nbsp;&nbsp; 3033141<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; 4710000<br>| &nbsp;&nbsp;&nbsp; 4836888<br> <sup>(a)</sup><br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *9513598* |
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **13399009** |
| **Real Estate — 1.6%** | **Real Estate — 1.6%** | **Real Estate — 1.6%** | **Real Estate — 1.6%** | **Real Estate — 1.6%** |
| *Diversified REITs — 0.1%* | *Diversified REITs — 0.1%* | *Diversified REITs — 0.1%* | *Diversified REITs — 0.1%* | *Diversified REITs — 0.1%* |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *481786*<br> <sup>(a)</sup><br>|
| *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; *202924*<br>|
| *Hotel & Resort REITs — 0.8%* | *Hotel & Resort REITs — 0.8%* | *Hotel & Resort REITs — 0.8%* | *Hotel & Resort REITs — 0.8%* | *Hotel & Resort REITs — 0.8%* |
| &nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | &nbsp;&nbsp; 3.950% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 226000<br>| &nbsp;&nbsp;&nbsp; 208937<br>|
| &nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 6/15/32 | &nbsp;&nbsp; 2770000<br>| &nbsp;&nbsp;&nbsp; 2850574<br>|
| *Total Hotel & Resort REITs* | *Total Hotel & Resort REITs* | *Total Hotel & Resort REITs* | *Total Hotel & Resort REITs* | &nbsp;&nbsp; *3059511* |
| *Real Estate Management & Development — 0.4%* | *Real Estate Management & Development — 0.4%* | *Real Estate Management & Development — 0.4%* | *Real Estate Management & Development — 0.4%* | *Real Estate Management & Development — 0.4%* |
| &nbsp;&nbsp;&nbsp; Add Hero Holdings Ltd., Senior Secured Notes (7.500% Cash or 8.500% PIK) | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 306082<br>| &nbsp;&nbsp;&nbsp; 22191<br> <sup>(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Add Hero Holdings Ltd., Senior Secured Notes (8.000% Cash or 9.000% PIK) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/30/30 | &nbsp;&nbsp; 248681<br>| &nbsp;&nbsp;&nbsp; 4974<br> <sup>(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Add Hero Holdings Ltd., Senior Secured Notes (8.800% Cash or 9.800% PIK) | &nbsp;&nbsp; 9.800% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 327014<br>| &nbsp;&nbsp;&nbsp; 6541<br> <sup>(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Notes, Step bond (0.000% to 9/30/31 then <br> 1.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 3/30/2173 | &nbsp;&nbsp; 450290<br>| &nbsp;&nbsp;&nbsp; 3377<br> <sup>(c)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Secured Notes (5.500% PIK) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 122116<br>| &nbsp;&nbsp;&nbsp; 2137<br> <sup>(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd., Senior Secured Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1/27/24 | &nbsp;&nbsp; 2016000<br>| &nbsp;&nbsp;&nbsp; 158,417<br> \*<sup>(c)(k)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC, Senior Secured Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 9/1/31 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 451338<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP/Five Point Capital Corp., Senior Notes, Step bond <br> (10.500% to 11/15/25 then 11.000%) | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 895832<br> <sup>(a)</sup><br>|
| *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | &nbsp;&nbsp; *1544807* |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Specialized REITs — 0.2%* | *Specialized REITs — 0.2%* | *Specialized REITs — 0.2%* | *Specialized REITs — 0.2%* | *Specialized REITs — 0.2%* |
| &nbsp;&nbsp;&nbsp; Iron Mountain Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; $*932279*<br> <sup>(a)</sup><br>|
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **6221307** |
| **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** |
| *Electric Utilities — 1.0%* | *Electric Utilities — 1.0%* | *Electric Utilities — 1.0%* | *Electric Utilities — 1.0%* | *Electric Utilities — 1.0%* |
| &nbsp;&nbsp;&nbsp; Alpha Generation LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 969619<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 10/15/31 | &nbsp;&nbsp; 920000<br>| &nbsp;&nbsp;&nbsp; 978469<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1924883<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *3872971* |
| *Independent Power and Renewable Electricity Producers — 0.3%* | *Independent Power and Renewable Electricity Producers — 0.3%* | *Independent Power and Renewable Electricity Producers — 0.3%* | *Independent Power and Renewable Electricity Producers — 0.3%* | *Independent Power and Renewable Electricity Producers — 0.3%* |
| &nbsp;&nbsp;&nbsp; Lightning Power LLC, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *989915*<br> <sup>(a)</sup><br>|
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **4862886** |
| **Total Corporate Bonds & Notes (Cost — $303,526,941)** | **Total Corporate Bonds & Notes (Cost — $303,526,941)** | **Total Corporate Bonds & Notes (Cost — $303,526,941)** | **Total Corporate Bonds & Notes (Cost — $303,526,941)** | &nbsp;&nbsp; **319952909** |
| **Senior Loans — 8.3%** | **Senior Loans — 8.3%** | **Senior Loans — 8.3%** | **Senior Loans — 8.3%** | **Senior Loans — 8.3%** |
| **Communication Services — 1.1%** | **Communication Services — 1.1%** | **Communication Services — 1.1%** | **Communication Services — 1.1%** | **Communication Services — 1.1%** |
| *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B1 (1 mo. Term SOFR + 6.600%) | 10.927% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 229412<br>| &nbsp;&nbsp;&nbsp; 224412<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B3 | 9.500% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 1310000<br>| &nbsp;&nbsp;&nbsp; 1275612<br> <sup>(l)(m)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *1500024* |
| *Media — 0.7%* | *Media — 0.7%* | *Media — 0.7%* | *Media — 0.7%* | *Media — 0.7%* |
| &nbsp;&nbsp;&nbsp; Diamond Sports Net LLC, First Lien Exit Term Loan | 15.000% | &nbsp;&nbsp; 1/2/28 | &nbsp;&nbsp; 1555000<br>| &nbsp;&nbsp;&nbsp; 1420882<br> <sup>(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; iHeartCommunications Inc., Refinanced Term Loan B (1 mo. Term SOFR + <br> 5.889%) | 10.216% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 1361160<br>| &nbsp;&nbsp;&nbsp; 1113313<br> <sup>(g)(l)(m)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *2534195* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **4034219** |
| **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** |
| *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 2024 Term Loan B (1 mo. Term SOFR + 2.500%) | 6.827% | &nbsp;&nbsp; 5/6/30 | &nbsp;&nbsp; 995000<br>| &nbsp;&nbsp;&nbsp; 993448<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, 2022 Incremental Term Loan (3 mo. Term SOFR + <br> 5.262%) | 9.541% | &nbsp;&nbsp; 3/30/27 | &nbsp;&nbsp; 1063700<br>| &nbsp;&nbsp;&nbsp; 1006750<br> <sup>(g)(l)(m)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *2000198* |
| *Diversified Consumer Services — 0.6%* | *Diversified Consumer Services — 0.6%* | *Diversified Consumer Services — 0.6%* | *Diversified Consumer Services — 0.6%* | *Diversified Consumer Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, Term Loan B1 (1 mo. Term SOFR + <br> 2.000%) | 6.320% | &nbsp;&nbsp; 10/13/30 | &nbsp;&nbsp; 992513<br>| &nbsp;&nbsp;&nbsp; 994125<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; WW International Inc., Take-Back Term Loan (3 mo. Term SOFR + 6.800%) | 11.121% | &nbsp;&nbsp; 6/25/30 | &nbsp;&nbsp; 1248802<br>| &nbsp;&nbsp;&nbsp; 1136410<br> <sup>(g)(l)(m)</sup><br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *2130535* |
| *Hotels, Restaurants & Leisure — 1.3%* | *Hotels, Restaurants & Leisure — 1.3%* | *Hotels, Restaurants & Leisure — 1.3%* | *Hotels, Restaurants & Leisure — 1.3%* | *Hotels, Restaurants & Leisure — 1.3%* |
| &nbsp;&nbsp;&nbsp; 1011778 BC Unlimited Liability Co., Term Loan B6 (1 mo. Term SOFR + <br> 1.750%) | 6.077% | &nbsp;&nbsp; 9/20/30 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 987010<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., Incremental Term Loan B1 (1 mo. Term SOFR + <br> 2.250%) | 6.577% | &nbsp;&nbsp; 2/6/31 | &nbsp;&nbsp; 2008252<br>| &nbsp;&nbsp;&nbsp; 2009518<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC, Initial Term Loan B (1 mo. Term SOFR + 3.500%) | 7.827% | &nbsp;&nbsp; 1/27/29 | &nbsp;&nbsp; 1230916<br>| &nbsp;&nbsp;&nbsp; 1230965<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, Term Loan Facility B (1 mo. Term SOFR + 2.000%) | 6.327% | &nbsp;&nbsp; 3/14/31 | &nbsp;&nbsp; 740625<br>| &nbsp;&nbsp;&nbsp; 742777<br> <sup>(g)(l)(m)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *4970270* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **9101003** |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** |
| *Beverages — 0.3%* | *Beverages — 0.3%* | *Beverages — 0.3%* | *Beverages — 0.3%* | *Beverages — 0.3%* |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings Inc., 2025 Refinancing Term Loan (3 mo. Term SOFR + <br> 2.250%)  | 6.546% | &nbsp;&nbsp; 3/31/28 | &nbsp;&nbsp; 1230995<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$1236805**<br> <sup>(g)(l)(m)</sup><br>|
| **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** |
| *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ascensus Group Holdings Inc., 2024 Term Loan B (1 mo. Term SOFR + 3.000%)  | 7.327% | &nbsp;&nbsp; 8/2/28 | &nbsp;&nbsp; 590580<br>| &nbsp;&nbsp;&nbsp;&nbsp; *592426*<br> <sup>(g)(l)(m)</sup><br>|
| *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* |
| &nbsp;&nbsp;&nbsp; Blackhawk Network Holdings Inc., Term Loan B (1 mo. Term SOFR + 4.000%)  | 8.327% | &nbsp;&nbsp; 3/12/29 | &nbsp;&nbsp; 465312<br>| &nbsp;&nbsp;&nbsp;&nbsp; *468401*<br> <sup>(g)(l)(m)</sup><br>|
| *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, Term Loan B2 (3 mo. Term SOFR + 2.000%) | 6.296% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 995006<br>| &nbsp;&nbsp;&nbsp; 998738<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Amendment No. 9 Refinancing Term Loan (1 mo. Term SOFR <br> + 3.500%) | 7.827% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 694763<br>| &nbsp;&nbsp;&nbsp; 697570<br> <sup>(g)(l)(m)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *1696308* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **2757135** |
| **Health Care — 1.2%** | **Health Care — 1.2%** | **Health Care — 1.2%** | **Health Care — 1.2%** | **Health Care — 1.2%** |
| *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, Dollar Incremental Term Loan (1 mo. Term SOFR + <br> 2.250%)  | 6.577% | &nbsp;&nbsp; 10/23/28 | &nbsp;&nbsp; 2152257<br>| &nbsp;&nbsp;&nbsp;&nbsp; *2157153*<br> <sup>(g)(l)(m)</sup><br>|
| *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B (3 mo. Term SOFR + 3.750%)  | 8.006% | &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 2481281<br>| &nbsp;&nbsp;&nbsp;&nbsp; *2458788*<br> <sup>(g)(l)(m)</sup><br>|
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **4615941** |
| **Industrials — 1.4%** | **Industrials — 1.4%** | **Industrials — 1.4%** | **Industrials — 1.4%** | **Industrials — 1.4%** |
| *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* |
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Term Loan J (3 mo. Term SOFR + 2.500%)  | 6.796% | &nbsp;&nbsp; 2/28/31 | &nbsp;&nbsp; 987525<br>| &nbsp;&nbsp;&nbsp;&nbsp; *990394*<br> <sup>(g)(l)(m)</sup><br>|
| *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; ACProducts Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 4.512%) | 8.807% | &nbsp;&nbsp; 5/17/28 | &nbsp;&nbsp; 393846<br>| &nbsp;&nbsp;&nbsp; 300185<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Term Loan B3 (1 mo. Term SOFR + 2.250%) | 6.577% | &nbsp;&nbsp; 2/10/32 | &nbsp;&nbsp; 897750<br>| &nbsp;&nbsp;&nbsp; 897638<br> <sup>(g)(l)(m)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *1197823* |
| *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, USD Term Loan (1 mo. Term SOFR + 3.850%)  | 8.177% | &nbsp;&nbsp; 5/12/28 | &nbsp;&nbsp; 987180<br>| &nbsp;&nbsp;&nbsp;&nbsp; *992999*<br> <sup>(g)(l)(m)</sup><br>|
| *Machinery — 0.2%* | *Machinery — 0.2%* | *Machinery — 0.2%* | *Machinery — 0.2%* | *Machinery — 0.2%* |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH, USD Term Loan B (3 mo. Term SOFR + 3.000%)  | 7.237% | &nbsp;&nbsp; 4/30/30 | &nbsp;&nbsp; 985093<br>| &nbsp;&nbsp;&nbsp;&nbsp; *988788*<br> <sup>(g)(l)(m)</sup><br>|
| *Passenger Airlines — 0.4%* | *Passenger Airlines — 0.4%* | *Passenger Airlines — 0.4%* | *Passenger Airlines — 0.4%* | *Passenger Airlines — 0.4%* |
| &nbsp;&nbsp;&nbsp; United Airlines Inc., Term Loan B (3 mo. Term SOFR + 2.000%)  | 6.275% | &nbsp;&nbsp; 2/22/31 | &nbsp;&nbsp; 1392226<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1397015*<br> <sup>(g)(l)(m)</sup><br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **5567019** |
| **Information Technology — 1.2%** | **Information Technology — 1.2%** | **Information Technology — 1.2%** | **Information Technology — 1.2%** | **Information Technology — 1.2%** |
| *Software — 1.1%* | *Software — 1.1%* | *Software — 1.1%* | *Software — 1.1%* | *Software — 1.1%* |
| &nbsp;&nbsp;&nbsp; DCert Buyer Inc., First Lien Initial Term Loan (1 mo. Term SOFR + 4.000%) | 8.327% | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 1121383<br>| &nbsp;&nbsp;&nbsp; 1113203<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Initial Term Loan (3 mo. Term SOFR + 4.500%) | 8.780% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 796000<br>| &nbsp;&nbsp;&nbsp; 768638<br> <sup>(g)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; X.Ai Corp., Initial Term Loan |  | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 2250000<br>| &nbsp;&nbsp;&nbsp; 2262307<br> <sup>(n)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *4144148* |
| *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* |
| &nbsp;&nbsp;&nbsp; Vericast Corp., 2024 Extended Term Loan (3 mo. Term SOFR + 7.750%)  | 12.046% | &nbsp;&nbsp; 6/16/26 | &nbsp;&nbsp; 679105<br>| &nbsp;&nbsp;&nbsp;&nbsp; *654490*<br> <sup>(g)(l)(m)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **4798638** |
| **Total Senior Loans (Cost — $32,338,118)** | **Total Senior Loans (Cost — $32,338,118)** | **Total Senior Loans (Cost — $32,338,118)** | **Total Senior Loans (Cost — $32,338,118)** | &nbsp;&nbsp; **32110760** |
| **Asset-Backed Securities — 6.1%** | **Asset-Backed Securities — 6.1%** | **Asset-Backed Securities — 6.1%** | **Asset-Backed Securities — 6.1%** | **Asset-Backed Securities — 6.1%** |
| &nbsp;&nbsp;&nbsp; 720 East CLO Ltd., 2025-7A E (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 9.031% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 388309<br> <sup>(a)(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; AGL CLO Ltd., 2022-17A ER (3 mo. Term SOFR + 4.650%) | &nbsp;&nbsp; 8.919% | &nbsp;&nbsp; 1/21/35 | &nbsp;&nbsp; 1240000<br>| &nbsp;&nbsp;&nbsp; $1180688<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2021-24A DR (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 7.219% | &nbsp;&nbsp; 1/20/35 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 478287<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apex Credit CLO Ltd., 2019-2A ERR (3 mo. Term SOFR + 7.670%) | &nbsp;&nbsp; 11.952% | &nbsp;&nbsp; 1/25/38 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 829627<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Balboa Bay Loan Funding Ltd., 2023-1A ERR (3 mo. Term SOFR + 5.400%) | &nbsp;&nbsp; 9.692% | &nbsp;&nbsp; 4/20/36 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 984900<br> <sup>(a)(e)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bear Mountain Park CLO Ltd., 2022-1A ER (3 mo. Term SOFR + 5.950%) | &nbsp;&nbsp; 10.206% | &nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 783694<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; CarVal CLO Ltd., 2024-3A E (3 mo. Term SOFR + 6.350%) | &nbsp;&nbsp; 10.619% | &nbsp;&nbsp; 10/20/37 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1030544<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., 2022-2A ER (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 9.019% | &nbsp;&nbsp; 4/19/35 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 297276<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clover CLO LLC, 2021-3A DR (3 mo. Term SOFR + 2.550%) | &nbsp;&nbsp; 6.832% | &nbsp;&nbsp; 1/25/35 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 472305<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fort Greene Park CLO LLC, 2025-2A ER (3 mo. Term SOFR + 4.400%) | &nbsp;&nbsp; 8.672% | &nbsp;&nbsp; 4/22/34 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1069247<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2017-1A ER3 (3 mo. Term SOFR + <br> 4.500%) | &nbsp;&nbsp; 8.769% | &nbsp;&nbsp; 4/20/34 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 472055<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2019-6A ER2 (3 mo. Term SOFR + <br> 4.500%) | &nbsp;&nbsp; 8.769% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 268912<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2022-16A DRR (3 mo. Term SOFR <br> + 2.400%) | &nbsp;&nbsp; 6.669% | &nbsp;&nbsp; 1/20/38 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 1253700<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., 2024-76A E (3 mo. Term SOFR + 5.750%) | &nbsp;&nbsp; 10.032% | &nbsp;&nbsp; 10/25/37 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 306275<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2015-12A ER (3 mo. Term SOFR + 5.942%) | &nbsp;&nbsp; 10.198% | &nbsp;&nbsp; 10/15/31 | &nbsp;&nbsp; 3700000<br>| &nbsp;&nbsp;&nbsp; 3690735<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2019-24A ER (3 mo. Term SOFR + 6.400%) | &nbsp;&nbsp; 10.656% | &nbsp;&nbsp; 4/15/35 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 200921<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2020-26A ER2 (3 mo. Term SOFR + 4.700%) | &nbsp;&nbsp; 8.966% | &nbsp;&nbsp; 1/25/38 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1043670<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MidOcean Credit CLO LLC, 2025-18A E (3 mo. Term SOFR + 5.400%) | &nbsp;&nbsp; 9.692% | &nbsp;&nbsp; 10/18/35 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 914550<br> <sup>(a)(e)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mountain View CLO Ltd., 2022-1A DR (3 mo. Term SOFR + 4.190%) | &nbsp;&nbsp; 8.446% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 531512<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nassau Ltd., 2021-IA DR (3 mo. Term SOFR + 3.600%) | &nbsp;&nbsp; 7.856% | &nbsp;&nbsp; 8/26/34 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 955013<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2020-10A ER (3 mo. Term SOFR + 7.832%) | &nbsp;&nbsp; 12.088% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1003725<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2022-12A ER (3 mo. Term SOFR + 7.500%) | &nbsp;&nbsp; 11.772% | &nbsp;&nbsp; 7/20/35 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 604043<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd., 2023-26A ER (3 mo. Term SOFR + 4.450%) | &nbsp;&nbsp; 8.769% | &nbsp;&nbsp; 4/17/37 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 589563<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Octagon Investment Partners Ltd., 2018-1A C (3 mo. Term SOFR + 2.862%) | &nbsp;&nbsp; 7.131% | &nbsp;&nbsp; 1/20/31 | &nbsp;&nbsp; 425000<br>| &nbsp;&nbsp;&nbsp; 422959<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., 2022-11A D1R (3 mo. Term SOFR + 2.850%) | &nbsp;&nbsp; 7.119% | &nbsp;&nbsp; 7/19/37 | &nbsp;&nbsp; 220000<br>| &nbsp;&nbsp;&nbsp; 220545<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., 2022-3A D1R (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 7.219% | &nbsp;&nbsp; 7/20/37 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; 311284<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2024-1A D (3 mo. Term SOFR + 4.900%) | &nbsp;&nbsp; 9.156% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 543257<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; RAD CLO Ltd., 2023-21A D1R (3 mo. Term SOFR + 2.600%) | &nbsp;&nbsp; 6.882% | &nbsp;&nbsp; 1/25/37 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1145704<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trestles CLO Ltd., 2025-8A E (3 mo. Term SOFR + 5.500%) | &nbsp;&nbsp; 9.797% | &nbsp;&nbsp; 6/11/35 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 389735<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trinitas CLO Ltd., 2024-27A D1 (3 mo. Term SOFR + 4.300%) | &nbsp;&nbsp; 8.569% | &nbsp;&nbsp; 4/18/37 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 283696<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd., 2020-3A D1RR (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.969% | &nbsp;&nbsp; 1/20/38 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 971207<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Warwick Capital CLO Ltd., 2024-3A D (3 mo. Term SOFR + 4.500%) | &nbsp;&nbsp; 8.769% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 140000<br>| &nbsp;&nbsp;&nbsp; 141399<br> <sup>(a)(g)</sup><br>|
| **Total Asset-Backed Securities (Cost — $23,849,485)** | **Total Asset-Backed Securities (Cost — $23,849,485)** | **Total Asset-Backed Securities (Cost — $23,849,485)** | **Total Asset-Backed Securities (Cost — $23,849,485)** | &nbsp;&nbsp; **23779337** |
| **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** |
| *Angola — 0.4%* | *Angola — 0.4%* | *Angola — 0.4%* | *Angola — 0.4%* | *Angola — 0.4%* |
| &nbsp;&nbsp;&nbsp; Angolan Government International Bond, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 11/26/29 | &nbsp;&nbsp; 1600000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1455086*<br> <sup>(a)</sup><br>|
| *Argentina — 0.5%* | *Argentina — 0.5%* | *Argentina — 0.5%* | *Argentina — 0.5%* | *Argentina — 0.5%* |
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp; 353986<br>| &nbsp;&nbsp;&nbsp; 255313<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | &nbsp;&nbsp; 6.990% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1356555<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 322150<br> <sup>(a)</sup><br>|
| *Total Argentina* | *Total Argentina* | *Total Argentina* | *Total Argentina* | &nbsp;&nbsp; *1934018* |
| *Bahamas — 0.4%* | *Bahamas — 0.4%* | *Bahamas — 0.4%* | *Bahamas — 0.4%* | *Bahamas — 0.4%* |
| &nbsp;&nbsp;&nbsp; Bahamas Government International Bond, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 11/20/29 | &nbsp;&nbsp; 1630000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1628370*<br> <sup>(a)</sup><br>|
| **Total Sovereign Bonds (Cost — $4,098,222)** | **Total Sovereign Bonds (Cost — $4,098,222)** | **Total Sovereign Bonds (Cost — $4,098,222)** | **Total Sovereign Bonds (Cost — $4,098,222)** | &nbsp;&nbsp; **5017474** |

---

See Notes to Schedule of Investments.

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate |  | Shares | Value |
| **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** |
| **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp., Non Voting Shares (3 mo. Term SOFR + 4.959%) | &nbsp;&nbsp; 9.215% |  | &nbsp;&nbsp; 33858 | &nbsp;&nbsp;&nbsp; $850174<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chimera Investment Corp., Non Voting Shares (7.750% to 9/30/25 then 3 mo. <br> USD LIBOR + 4.743%) | &nbsp;&nbsp; 7.750% |  | &nbsp;&nbsp; 10320 | &nbsp;&nbsp;&nbsp; 232923<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MFA Financial Inc., Non Voting Shares (3 mo. Term SOFR + 5.607%) | &nbsp;&nbsp; 9.902% |  | &nbsp;&nbsp; 18881 | &nbsp;&nbsp;&nbsp; 444081<br> <sup>(g)</sup><br>|
| **Total Preferred Stocks (Cost — $1,550,609)** | **Total Preferred Stocks (Cost — $1,550,609)** | **Total Preferred Stocks (Cost — $1,550,609)** | **Total Preferred Stocks (Cost — $1,550,609)** | &nbsp;&nbsp; **1527178** |
| **Common Stocks — 0.3%** | **Common Stocks — 0.3%** | **Common Stocks — 0.3%** | **Common Stocks — 0.3%** | **Common Stocks — 0.3%** |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; WW International Inc. | &nbsp;&nbsp;&nbsp; WW International Inc. |  | &nbsp;&nbsp; 24439 | &nbsp;&nbsp;&nbsp; **738,058**<br> \*<br>|
| **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** |
| *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC | &nbsp;&nbsp;&nbsp; Spirit Airlines LLC |  | &nbsp;&nbsp; 346 | &nbsp;&nbsp;&nbsp; 1,727<br> \*<sup>(h)(o)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. | &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. |  | &nbsp;&nbsp; 59529 | &nbsp;&nbsp;&nbsp; 297,050<br> \*<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **298777** |
| **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** |
| *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* |
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd. | &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd. |  | &nbsp;&nbsp; 112573 | &nbsp;&nbsp;&nbsp; **1,728**<br> \*<sup>(h)</sup><br>|
| **Total Common Stocks (Cost — $1,253,845)** | **Total Common Stocks (Cost — $1,253,845)** | **Total Common Stocks (Cost — $1,253,845)** | **Total Common Stocks (Cost — $1,253,845)** | &nbsp;&nbsp;&nbsp; **1038563**<br>|
|  | Rate | Maturity <br>Date<br>| Face <br>Amount†<br>|  |
| **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** |
| **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** |
| *Media — 0.3%* | *Media — 0.3%* | *Media — 0.3%* | *Media — 0.3%* | *Media — 0.3%* |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes (3.875% Cash or 3.875% PIK) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 858770<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1013348**<br> <sup>(d)</sup><br>|
| **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** |
| *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* |
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Notes | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 9/30/28 | &nbsp;&nbsp; 40243<br>| &nbsp;&nbsp;&nbsp;&nbsp; **604**<br> <sup>(c)</sup><br>|
| **Total Convertible Bonds & Notes (Cost — $945,722)** | **Total Convertible Bonds & Notes (Cost — $945,722)** | **Total Convertible Bonds & Notes (Cost — $945,722)** | **Total Convertible Bonds & Notes (Cost — $945,722)** | &nbsp;&nbsp; **1013952** |
| **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** |
| &nbsp;&nbsp;&nbsp; LHOME Mortgage Trust, 2025-RTL1 M1 (Cost — $529,997) | &nbsp;&nbsp; 7.023% | &nbsp;&nbsp; 1/25/40 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; **531160**<br> <sup>(a)(g)</sup><br>|
|  |  | Expiration <br>Date<br>| Warrants |  |
| **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** |
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC (Cost — $514,884) |  | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 42296<br>| &nbsp;&nbsp;&nbsp; **211,057**<br> \*<sup>(a)(h)(o)</sup><br>|
| **Total Investments before Short-Term Investments (Cost — $368,607,823)** | **Total Investments before Short-Term Investments (Cost — $368,607,823)** | **Total Investments before Short-Term Investments (Cost — $368,607,823)** | **Total Investments before Short-Term Investments (Cost — $368,607,823)** | &nbsp;&nbsp; **385182390** |

---

See Notes to Schedule of Investments.

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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Schedule of Investments (unaudited) (cont'd)

June 30, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security | Rate | Shares | Value |
| **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium Shares <br> (Cost — $2,250,049)  | &nbsp;&nbsp; 4.301% | &nbsp;&nbsp; 2250049<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$2250049**<br> <sup>(q)(r)</sup><br>|
| **Total Investments — 100.2% (Cost — $370,857,872)** | **Total Investments — 100.2% (Cost — $370,857,872)** | **Total Investments — 100.2% (Cost — $370,857,872)** | &nbsp;&nbsp; **387432439** |
| &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (0.2)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (0.2)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (0.2)% | &nbsp;&nbsp;&nbsp; (920697)<br>|
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$386511742** |

---

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

---

| | |
|:---|:---|
| † | Face amount denominated in U.S. dollars, unless otherwise noted. |
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors. <br>|
| <sup>(b)</sup> | The coupon payment on this security is currently in default as of June 30, 2025. |
| <sup>(c)</sup> | Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of <br> the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the <br> Board of Directors.<br>|
| <sup>(d)</sup> | Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.  |
| <sup>(e)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(f)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(g)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(h)</sup> | Security is fair valued in accordance with procedures approved by the Board of Directors (Note 1). |
| <sup>(i)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(j)</sup> | Value is less than $1. |
| <sup>(k)</sup> | The maturity principal is currently in default as of June 30, 2025. |
| <sup>(l)</sup> | Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan. |
| <sup>(m)</sup> | Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower <br> prior to the disposition of a senior loan. <br>|
| <sup>(n)</sup> | All or a portion of this loan has not settled as of June 30, 2025. Interest rates are not effective until settlement date. Interest rates shown, if any, are for <br> the settled portion of the loan.<br>|
| <sup>(o)</sup> | Restricted security (Note 3). |
| <sup>(p)</sup> | Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct <br> payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or <br> more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.<br>|
| <sup>(q)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(r)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At June 30, 2025, the total market value of <br> investments in Affiliated Companies was $2,250,049 and the cost was $2,250,049 (Note 2).<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| CLO |  | Collateralized Loan Obligation |
| DAC |  | Designated Activity Company |
| EUR |  | Euro |
| GBP |  | British Pound |
| ICE |  | Intercontinental Exchange |
| LIBOR |  | London Interbank Offered Rate |
| PIK |  | Payment-In-Kind |
| SOFR |  | Secured Overnight Financing Rate |
| USD |  | United States Dollar |

---

See Notes to Schedule of Investments.

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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 **Western Asset High Income Opportunity Fund Inc.**

At June 30, 2025, the Fund had the following open swap contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| Markit CDX.NA.HY.44 Index | $2678000 | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/30 | 5.000% quarterly | &nbsp;&nbsp;&nbsp; **$201444** | &nbsp;&nbsp;&nbsp; **$149963** | &nbsp;&nbsp;&nbsp; **$51481** |

---

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

---

| | |
|:---|:---|
| <sup>1</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to <br> the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities <br> comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or underlying securities comprising the referenced index.<br>|
| <sup>2</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event <br> occurs as defined under the terms of that particular swap agreement.<br>|
| <sup>3</sup> | The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the <br> current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount <br> of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection), when <br> compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of <br> default or other credit event occurring as defined under the terms of the agreement.<br>|
| † | Percentage shown is an annual percentage rate. |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

Western Asset High Income Opportunity Fund Inc. (the "Fund") was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund seeks high current income. Capital appreciation is a secondary objective. In seeking to fulfill its investment objectives, the Fund invests, under normal market conditions, at least 80% of its net assets in high-yield securities and up to 20% in common stock equivalents, including options, warrants and rights.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Directors (the "Board").

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 — unadjusted quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

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

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets carried at fair value: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | &nbsp;&nbsp; — | &nbsp;&nbsp; $53408519 | &nbsp;&nbsp; $800778 | &nbsp;&nbsp; $54209297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 34494065 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 34494065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | &nbsp;&nbsp; — | &nbsp;&nbsp; 28768532 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 28768532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 202481015 | &nbsp;&nbsp; — | &nbsp;&nbsp; 202481015 |
| &nbsp;&nbsp;&nbsp; Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 32110760 | &nbsp;&nbsp; — | &nbsp;&nbsp; 32110760 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 23779337 | &nbsp;&nbsp; — | &nbsp;&nbsp; 23779337 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 5017474 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5017474 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; $1527178 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1527178 |
| &nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; 738058 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 738058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; 297050 | &nbsp;&nbsp; 1727 | &nbsp;&nbsp; — | &nbsp;&nbsp; 298777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | &nbsp;&nbsp; — | &nbsp;&nbsp; 1728 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1728 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1013952 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1013952 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 531160 | &nbsp;&nbsp; — | &nbsp;&nbsp; 531160 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 211057 | &nbsp;&nbsp; — | &nbsp;&nbsp; 211057 |
| Total Long-Term Investments | &nbsp;&nbsp; 2562286 | &nbsp;&nbsp; 381819326 | &nbsp;&nbsp; 800778 | &nbsp;&nbsp; 385182390 |
| Short-Term Investments† | &nbsp;&nbsp; 2250049 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2250049 |
| **Total Investments** | &nbsp;&nbsp; **$4812335** | &nbsp;&nbsp; **$381819326** | &nbsp;&nbsp; **$800778** | &nbsp;&nbsp; **$387432439** |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Credit Indices — Sell <br> Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; $51481 | &nbsp;&nbsp; — | &nbsp;&nbsp; $51481 |
| **Total** | &nbsp;&nbsp; **$4812335** | &nbsp;&nbsp; **$381870807** | &nbsp;&nbsp; **$800778** | &nbsp;&nbsp; **$387483920** |

---

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

---

| | |
|:---|:---|
| † | See Schedule of Investments for additional detailed categorizations. |
| \* | Amount represents less than $1. |
| †† | Reflects the unrealized appreciation (depreciation) of the instruments. |

---

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended June 30, 2025. The following transactions were effected

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited) (cont'd)

in such company for the period ended June 30, 2025. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>September 30, <br>2024 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>September 30, <br>2024 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $2743704 | $86028635 | 86028635 | $86522290 | 86522290 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>June 30, <br>2025<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $125907 |  | $2250049 |

---

**3. Restricted securities**

The following Fund investments are restricted as to resale and, in the absence of readily ascertainable market values, are fair valued in accordance with procedures approved by the Board. <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Security | &nbsp;&nbsp; Number of <br>Shares/ <br>Warrants<br>| Acquisition <br>Date<br>| Cost | Fair Value <br>at 6/30/2025<br>| Value Per <br>Share/Warrant<br>| &nbsp;&nbsp; Percent of <br>Net Assets<br>|
| Spirit Airlines LLC, <br> Common Shares<br>| &nbsp;&nbsp; 346 | 3/25 | $4212 | $1727 | &nbsp;&nbsp; $4.99 | 0.00<br> %<sup>(a)</sup><br>|
| Spirit Airlines LLC, <br> Warrants<br>| &nbsp;&nbsp; 42296 | 3/25 | 514884 | 211057 <br><sup>(b)</sup><br>| 4.99 | 0.06  |
|  |  |  | **$519096** | **$212784** |  | **0.06%**<br>|

---

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

<sup>(a)</sup> Amount represents less than 0.005%.

<sup>(b)</sup> Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board. 

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset High Income Opportunity Fund Inc.

- **b. Investment Company Act file number:** 811-07920

- **c. CIK number of Registrant:** 0000910068

- **d. LEI of Registrant:** 549300S7N70O2ERKYG47

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

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-888-777-0102

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

- **a. Name of Series:** Western Asset High Income Opportunity Fund Inc.

- **c. LEI of Series:** 549300S7N70O2ERKYG47

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

- **a. Date of fiscal year-end:** 2025-09-30

- **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:** $396667746.07

**Total Liabilities:** $10270312.13

**Net Assets:** $386397433.94

**Delayed Delivery Securities:** $4250000.00

**Cash Not Reported:** $670716.73

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 87.75000000 | **1-Year:** 870.10000000 | **5-Year:** 13356.79000000 | **10-Year:** 20204.44000000 | **30-Year:** 2751.81000000

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

- **3-Month:** 685.70000000 | **1-Year:** 33395.33000000 | **5-Year:** 58933.11000000 | **10-Year:** 18318.43000000 | **30-Year:** 2152.72000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | -2.89%               | 2.23%                | 3.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-245890.85              | $-4546101.21                               |
| Month 2  | $346061.75               | $3594793.74                                |
| Month 3  | $-1397012.28             | $6648525.16                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TENET HEALTHCARE CORP                                                       | Tenet Healthcare Corp                                                            | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    250000 | PA      | $268932.50    | 0.07%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                         | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   1050000 | PA      | $790895.49    | 0.20%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PM GENERAL PURCHASER LLC                                                    | PM General Purchaser LLC                                                         | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3200000 | PA      | $2222208.00   | 0.58%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TransDigm Inc                                                                    | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    875000 | PA      | $917847.00    | 0.24%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                       | Level 3 Financing Inc                                                            | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $2021076.02   | 0.52%             | 2029-11-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                            | Trinitas CLO XXVII LTD                                                           | CUSIP: 89642VAJ7<br>LEI: 254900JOSDBR04E6JB79 | Long             | ABS-CBDO         | CORP              | KY        |    280000 | PA      | $283695.78    | 0.07%             | 2037-04-18      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| 888 ACQUISITIONS LTD                                                        | 888 Acquisitions Ltd                                                             | CUSIP: 000000000<br>LEI: 254900RFD0BP3JOPZU89 | Long             | DBT              | CORP              | GI        |   2600000 | PA      | $3089763.14   | 0.80%             | 2027-07-15      | Fixed         | 7.56%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                                                       | Banijay Entertainment SAS                                                        | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |   1830000 | PA      | $1900099.98   | 0.49%             | 2029-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                                        | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |   2016000 | PA      | $158417.28    | 0.04%             | 2024-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                                                     | Bahamas Government International Bond                                            | CUSIP: 056732AG5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |   1630000 | PA      | $1628370.00   | 0.42%             | 2029-11-20      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | CAESARS ENTERTAIN INC                                                            | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   2008252 | PA      | $2009517.67   | 0.52%             | 2031-02-06      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    880000 | PA      | $825884.29    | 0.21%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1070000 | PA      | $912977.50    | 0.24%             | 2032-01-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                        | LHOME Mortgage Trust 2025-RTL1                                                   | CUSIP: 50205UAC5<br>LEI: 5299002NGIWITLMXOH85 | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $531160.06    | 0.14%             | 2040-01-25      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                     | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2779608.48   | 0.72%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                           | Iron Mountain Inc                                                                | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    900000 | PA      | $932279.40    | 0.24%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                                    | BOOST NEWCO BORROWER LLC                                                         | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    995006 | PA      | $998737.52    | 0.26%             | 2031-01-31      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                                 | RAD CLO 21 Ltd                                                                   | CUSIP: 750099AS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1140000 | PA      | $1145703.99   | 0.30%             | 2037-01-25      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    880000 | PA      | $885729.68    | 0.23%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications Inc                                                    | IHEARTCOMMUNICATIONS INC                                                         | CUSIP: 45174UAJ7<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |   1361160 | PA      | $1113313.18   | 0.29%             | 2029-05-01      | Floating      | 10.22%                | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                               | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    980000 | PA      | $1003301.46   | 0.26%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                                         | STATION CASINOS LLC                                                              | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |    740625 | PA      | $742776.52    | 0.19%             | 2031-03-14      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves                     | Western Asset Premier Institutional Government Reserves                          | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |   2226187 | NS      | $2226187.39   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                    | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBD4<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $808384.00    | 0.21%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                                                  | Clover CLO 2021-3 LLC                                                            | CUSIP: 18915FAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    480000 | PA      | $472304.54    | 0.12%             | 2035-01-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                                           | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1237915.20   | 0.32%             | 2027-11-15      | Fixed         | 11.75%                | 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        |    800000 | PA      | $831355.20    | 0.22%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                     | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   2760000 | PA      | $2778039.88   | 0.72%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                                              | Golub Capital Partners CLO 76 B Ltd                                              | CUSIP: 38180CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    300000 | PA      | $306274.80    | 0.08%             | 2037-10-25      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| METLIFE CAPITAL TRUST IV                                                    | MetLife Capital Trust IV                                                         | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1109735.48   | 0.29%             | 2037-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $147787.50    | 0.04%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | Goldentree Loan Management US Clo 6 Ltd                                          | CUSIP: 38137XAL7<br>LEI: 549300MI5PVR6JHGVV87 | Long             | ABS-CBDO         | CORP              | KY        |    280000 | PA      | $268911.80    | 0.07%             | 2035-04-20      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                                                     | Sotera Health Holdings LLC                                                       | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    990000 | PA      | $1031276.07   | 0.27%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                       | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    430000 | PA      | $437844.50    | 0.11%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                                              | Open Text Corp                                                                   | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    760000 | PA      | $737740.19    | 0.19%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                    | Service Properties Trust                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2770000 | PA      | $2850573.76   | 0.74%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                    | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBC6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $838600.00    | 0.22%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    380000 | PA      | $390857.55    | 0.10%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3143842.44   | 0.81%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    920000 | PA      | $977589.29    | 0.25%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1890000 | PA      | $1568700.00   | 0.41%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                              | CarVal CLO XI C Ltd                                                              | CUSIP: 14688TAA4<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |   1020000 | PA      | $1030544.45   | 0.27%             | 2037-10-20      | Floating      | 10.62%                | No            |                  2 | On Loan: No      |
| TK Elevator Midco Gmbh                                                      | TK ELEVATOR US NEWCO INC                                                         | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    987562 | PA      | $991265.72    | 0.26%             | 2030-04-30      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    710000 | PA      | $741937.46    | 0.19%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                                        | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    940000 | PA      | $969619.40    | 0.25%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033YAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $1958967.70   | 0.51%             | 2029-08-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                                    | JH North America Holdings Inc                                                    | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    580000 | PA      | $589992.83    | 0.15%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DEL PERU SA                                                       | Petroleos del Peru SA                                                            | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |   1500000 | PA      | $1164614.16   | 0.30%             | 2032-06-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA VENDOR FIN                                                     | Virgin Media Vendor Financing Notes III DAC                                      | CUSIP: 92771EAA1<br>LEI: 635400SSKC2QCGEPIQ43 | Long             | DBT              | CORP              | IE        |   2000000 | PA      | $2621761.50   | 0.68%             | 2028-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TRANSDIGM INC                                                                    | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    987525 | PA      | $990393.76    | 0.26%             | 2031-02-28      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1267340.21   | 0.33%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                                                    | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2550000 | PA      | $2539157.48   | 0.66%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   1000000 | PA      | $1001184.00   | 0.26%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                      | Williams Cos Inc/The                                                             | CUSIP: 969457BB5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    620000 | PA      | $701911.78    | 0.18%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                                    | Petrobras Global Finance BV                                                      | CUSIP: 71645WAS0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |   4370000 | PA      | $4318819.43   | 1.12%             | 2041-01-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                                                           | 720 East CLO VII Ltd                                                             | CUSIP: 81789NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $388309.43    | 0.10%             | 2037-04-20      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XII Ltd                                                                | CUSIP: 55953GCG8<br>LEI: 549300Z6VW568TT64K70 | Long             | ABS-CBDO         | CORP              | KY        |   3700000 | PA      | $3690735.20   | 0.96%             | 2031-10-15      | Floating      | 10.20%                | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                           | HSBC Holdings PLC                                                                | CUSIP: 404280DS5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1440000 | PA      | $1663098.60   | 0.43%             | 2033-11-03      | Fixed         | 8.11%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                                              | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    140000 | PA      | $139380.30    | 0.04%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                                         | Sirius XM Radio LLC                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    130000 | PA      | $119946.39    | 0.03%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                             | Gen Digital Inc                                                                  | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    560000 | PA      | $576431.52    | 0.15%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                                    | Provincia de Buenos Aires/Government Bonds                                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |    353986 | PA      | $255312.65    | 0.07%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXVI Ltd                                                               | CUSIP: 55955CAG7<br>LEI: 549300F7COUCG1RROP29 | Long             | ABS-CBDO         | CORP              | KY        |   1050000 | PA      | $1043669.76   | 0.27%             | 2038-01-25      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                                         | Sirius XM Radio LLC                                                              | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $889539.96    | 0.23%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OP CO LP/FIVE                                                    | Five Point Operating Co LP / Five Point Capital Corp                             | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    880000 | PA      | $895832.08    | 0.23%             | 2028-01-15      | Variable      | 10.50%                | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    229412 | PA      | $224411.73    | 0.06%             | 2029-10-26      | Floating      | 10.93%                | No            |                  2 | On Loan: No      |
| Blackhawk Network Holdings Inc.                                             | BHN MERGER SUB INC                                                               | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |    465312 | PA      | $468401.41    | 0.12%             | 2029-03-12      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| CARNIVAL PLC                                                                | Carnival PLC                                                                     | CUSIP: 14365CAA1<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |   5780000 | PA      | $6148632.19   | 1.59%             | 2029-10-28      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    500000 | PA      | $481339.15    | 0.12%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 35                                              | OCTAGON INVESTMENT PARTNERS 35 LTD                                               | CUSIP: 67591TAJ9<br>LEI: 549300EBYXJ9QVMC7X31 | Long             | ABS-CBDO         | CORP              | KY        |    425000 | PA      | $422959.45    | 0.11%             | 2031-01-20      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                                        | YPF SA                                                                           | CUSIP: 984245AQ3<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    530000 | PA      | $526140.81    | 0.14%             | 2027-07-21      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    640000 | PA      | $693306.88    | 0.18%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                                    | Altice France Holding SA                                                         | CUSIP: 02156TAA2<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   1230000 | PA      | $436711.50    | 0.11%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1173113.89   | 0.30%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                       | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |   1980000 | PA      | $2077334.82   | 0.54%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1924882.88   | 0.50%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                                                           | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |    327014 | PA      | $6540.29      | 0.00%             | 2031-09-30      | Fixed         | 9.80%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                                     | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1180000 | PA      | $1148737.40   | 0.30%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                                    | Altice France Holding SA                                                         | CUSIP: 000000000<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    720000 | PA      | $305748.70    | 0.08%             | 2027-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                                      | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $375567.76    | 0.10%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                              | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1970000 | PA      | $1937915.99   | 0.50%             | 2028-08-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                                     | Titan International Inc                                                          | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1738269.40   | 0.45%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                                    | Altice France Holding SA                                                         | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   2770000 | PA      | $964749.45    | 0.25%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES LLC                                                         | SPIRIT AIRLINES LLC                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42296 | NS      | $211057.04    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                                        | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    940000 | PA      | $968066.52    | 0.25%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                     | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1518169.50   | 0.39%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | MEDLINE BORROWER LP                                                              | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   2152256 | PA      | $2157152.71   | 0.56%             | 2028-10-23      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| PINNACLE BIDCO PLC                                                          | Pinnacle Bidco PLC                                                               | CUSIP: 000000000<br>LEI: 2138006Z5V8OBL2A2Q06 | Long             | DBT              | CORP              | GB        |    900000 | PA      | $1309083.44   | 0.34%             | 2028-10-11      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                                         | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    940000 | PA      | $989914.70    | 0.26%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                                                    | PetSmart Inc / PetSmart Finance Corp                                             | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2760000 | PA      | $2684713.00   | 0.69%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                                    | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2107418.00   | 0.55%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                           | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   1990000 | PA      | $2034273.40   | 0.53%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2540000 | PA      | $2695237.18   | 0.70%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    380000 | PA      | $391726.80    | 0.10%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                                      | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1177312.50   | 0.30%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                                | Navient Corp                                                                     | CUSIP: 63938CAJ7<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1417796.80   | 0.37%             | 2026-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                                | Voya CLO 2020-3 Ltd                                                              | CUSIP: 92918NBE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    970000 | PA      | $971207.17    | 0.25%             | 2038-01-20      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                                    | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1578000 | PA      | $704947.83    | 0.18%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                                    | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3490000 | PA      | $3512259.22   | 0.91%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MASTERBRAND INC                                                             | Masterbrand Inc                                                                  | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511285.94    | 0.13%             | 2032-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                                              | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1990000 | PA      | $2008885.04   | 0.52%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $1469275.81   | 0.38%             | 2030-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    190000 | PA      | $186873.46    | 0.05%             | 2028-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                                                    | Boost Newco Borrower LLC                                                         | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    460000 | PA      | $488623.50    | 0.13%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    260000 | PA      | $271085.10    | 0.07%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT L                                                    | FERTITTA ENTERTAINMENT LLC/NV                                                    | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |   1230916 | PA      | $1230965.28   | 0.32%             | 2029-01-29      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                                     | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460000 | PA      | $481786.06    | 0.12%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                                          | Angolan Government International Bond                                            | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1600000 | PA      | $1455086.06   | 0.38%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                                       | Capstone Borrower Inc                                                            | CUSIP: 140944AB5<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    410000 | PA      | $427020.85    | 0.11%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                                                          | Cerdia Finanz GmbH                                                               | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |   1320000 | PA      | $1371440.40   | 0.35%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                               | CoreCivic Inc                                                                    | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3533179.95   | 0.91%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                                        | Range Resources Corp                                                             | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    620000 | PA      | $638749.42    | 0.17%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                             | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    696504 | PA      | $699318.26    | 0.18%             | 2031-07-31      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRISES                                                     | Saks Global Enterprises LLC                                                      | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2060000 | PA      | $782800.00    | 0.20%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                               | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    480000 | PA      | $491128.00    | 0.13%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                                    | iHeartCommunications Inc                                                         | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    760000 | PA      | $627000.00    | 0.16%             | 2029-05-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                       | Tenet Healthcare Corp                                                            | CUSIP: 88033GDS6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1711002.83   | 0.44%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                                      | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    987180 | PA      | $992998.92    | 0.26%             | 2028-05-12      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                                                  | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    620000 | PA      | $643835.90    | 0.17%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company                                      | 1011778 BC ULC                                                                   | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    990000 | PA      | $987010.20    | 0.26%             | 2030-09-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    450290 | PA      | $3377.17      | 0.00%             | N/A             | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| X.Ai Corp.                                                                  | XAI CORP                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2250000 | PA      | $2262307.50   | 0.59%             | 2040-01-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | GoldenTree Loan Management US CLO 16 Ltd                                         | CUSIP: 38090AAY4<br>LEI: 549300KYU0TCMXRAI217 | Long             | ABS-CBDO         | CORP              | JE        |   1260000 | PA      | $1253700.00   | 0.32%             | 2038-01-20      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS                                                      | Bausch Health Americas Inc                                                       | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9531.55      | 0.00%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    750000 | PA      | $620625.00    | 0.16%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MIDOCEAN CREDIT CLO                                                         | MIDOCEAN CREDIT CLO XVIII LLC                                                    | CUSIP: 59803MAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    910000 | PA      | $914550.00    | 0.24%             | 2035-10-18      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                                      | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    420000 | PA      | $451338.28    | 0.12%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1048054.41   | 0.27%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   2530000 | PA      | $2420667.52   | 0.63%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                                        | WW International Inc                                                             | CUSIP: 98262P200<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | EC               | CORP              | US        |     24439 | NS      | $738057.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO GROUP INC/THE                                                           | GEO Group Inc/The                                                                | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1281819.50   | 0.33%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                                     | American Axle & Manufacturing Inc                                                | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   2663000 | PA      | $2664141.36   | 0.69%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                              | Palmer Square Loan Funding 2024-1 Ltd                                            | CUSIP: 69703QAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $543257.39    | 0.14%             | 2032-10-15      | Floating      | 9.16%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    710000 | PA      | $744400.40    | 0.19%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| APOLLO CMMRL REAL EST FI                                                    | Apollo Commercial Real Estate Finance Inc                                        | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |    750000 | PA      | $713500.43    | 0.18%             | 2029-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1581802.91   | 0.41%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $893929.34    | 0.23%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $525475.00    | 0.14%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1702226.00   | 0.44%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2770000 | PA      | $2338918.75   | 0.61%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    122116 | PA      | $2137.02      | 0.00%             | 2031-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                                    | Diversified Healthcare Trust                                                     | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $202924.32    | 0.05%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1224113.20   | 0.32%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                                            | AMC Networks Inc                                                                 | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    700000 | PA      | $726250.00    | 0.19%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    340000 | PA      | $327116.38    | 0.08%             | 2030-02-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                                              | AMMC CLO 24 Ltd                                                                  | CUSIP: 00177LAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $478287.07    | 0.12%             | 2035-01-20      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                                            | StoneX Group Inc                                                                 | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    640000 | PA      | $671283.84    | 0.17%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                     | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    780000 | PA      | $821394.90    | 0.21%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1420000 | PA      | $1451383.42   | 0.38%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                                                       | VFH Parent LLC / Valor Co-Issuer Inc                                             | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $819108.42    | 0.21%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                                                    | Sally Holdings LLC / Sally Capital Inc                                           | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1746712.60   | 0.45%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   4710000 | PA      | $4836887.40   | 1.25%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                                           | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1066428 | PA      | $1009331.17   | 0.26%             | 2027-03-30      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                                                      | JB Poindexter & Co Inc                                                           | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1874865.85   | 0.49%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                                    | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $530146.00    | 0.14%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                              | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1050244.65   | 0.27%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                                          | Ford Motor Co                                                                    | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    500000 | PA      | $421735.25    | 0.11%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                 | OCP CLO 2023-26 Ltd                                                              | CUSIP: 67351PAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    600000 | PA      | $589563.48    | 0.15%             | 2037-04-17      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $656969.59    | 0.17%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                                | Fibercop SpA                                                                     | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    939000 | PA      | $883449.70    | 0.23%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   2920000 | PA      | $3033141.24   | 0.78%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1144842.72   | 0.30%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                    | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8520000 | PA      | $5463255.23   | 1.41%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                                                      | RB Global Holdings Inc                                                           | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1315636.76   | 0.34%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                             | Nissan Motor Co Ltd                                                              | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1530000 | PA      | $1404694.09   | 0.36%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1310000 | PA      | $1275612.50   | 0.33%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                     | HCA Inc                                                                          | CUSIP: 197677AH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   6265000 | PA      | $6824021.56   | 1.77%             | 2095-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                                                        | Capstone Copper Corp                                                             | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    650000 | PA      | $665979.60    | 0.17%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| China Aoyuan Group Ltd                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | EC               | CORP              | CN        |    112573 | NS      | $1728.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                             | OHA Credit Funding 11 Ltd                                                        | CUSIP: 67115VAW2<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |    220000 | PA      | $220545.38    | 0.06%             | 2037-07-19      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                 | BNP Paribas SA                                                                   | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1470000 | PA      | $1549784.25   | 0.40%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2550000 | PA      | $1836679.58   | 0.48%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Bear Mountain Park CLO, Ltd                                                 | Bear Mountain Park CLO Ltd                                                       | CUSIP: 07403KAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    770000 | PA      | $783694.22    | 0.20%             | 2037-07-15      | Floating      | 10.21%                | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                                                    | Summit Midstream Holdings LLC                                                    | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    410000 | PA      | $419776.86    | 0.11%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                       | QUIKRETE HOLDING 01/30/32                                                        | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    897750 | PA      | $897637.78    | 0.23%             | 2032-02-10      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                         | Petroleos Mexicanos                                                              | CUSIP: 71654QAZ5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1000000 | PA      | $743459.70    | 0.19%             | 2041-06-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                                                           | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |    248681 | PA      | $4973.63      | 0.00%             | 2030-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                          | Energy Transfer LP                                                               | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1908268.78   | 0.49%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    566000 | PA      | $553283.80    | 0.14%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                               | CoreCivic Inc                                                                    | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    280000 | PA      | $274877.01    | 0.07%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                                       | Palmer Square CLO 2022-3 Ltd                                                     | CUSIP: 69690ABC0<br>LEI: 5493000CAZ8VWJGUOH13 | Long             | ABS-CBDO         | CORP              | JE        |    310000 | PA      | $311283.59    | 0.08%             | 2037-07-20      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Nassau LTD                                                                  | Nassau 2021-I Ltd                                                                | CUSIP: 631704AP8<br>LEI: 5493000NDRKPTT45F149 | Long             | ABS-CBDO         | CORP              | KY        |    970000 | PA      | $955012.72    | 0.25%             | 2034-08-26      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                       | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    950000 | PA      | $995289.35    | 0.26%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fort Greene Park CLO                                                        | Fort Greene Park CLO LLC                                                         | CUSIP: 18914KAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1080000 | PA      | $1069247.30   | 0.28%             | 2034-04-22      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1871000 | PA      | $1990571.87   | 0.52%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1448103.24   | 0.37%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                        | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    850000 | PA      | $866216.21    | 0.22%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                            | MODENA BUYER LLC                                                                 | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    796000 | PA      | $768637.50    | 0.20%             | 2031-07-01      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| PAR PHARMACEUTICAL INC                                                      | PAR PHARMACEUTICAL INC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $0.00         | 0.00%             | 2027-04-01      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| VMED O2 UK FINAN                                                            | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $462825.66    | 0.12%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS                                                          | New Generation Gas Gathering LLC                                                 | CUSIP: 000000000<br>LEI: 9845008CB7EPB0KCD474 | Long             | DBT              | CORP              | US        |    812973 | PA      | $800778.37    | 0.21%             | 2029-09-30      | Floating      | 10.02%                | No            |                  3 | On Loan: No      |
| PROVINCIA DE CORDOBA                                                        | Provincia de Cordoba                                                             | CUSIP: 74408DAD6<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |   1360000 | PA      | $1356555.02   | 0.35%             | 2027-06-01      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| Spirit Aviation Holdings Inc                                                | Spirit Aviation Holdings Inc                                                     | CUSIP: 84863V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59529 | NS      | $297049.71    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ocean Trails CLO                                                            | Ocean Trails CLO XII Ltd                                                         | CUSIP: 67515FAE3<br>LEI: 549300RF4JV7XJ3EV147 | Long             | ABS-CBDO         | CORP              | JE        |    600000 | PA      | $604042.62    | 0.16%             | 2035-07-20      | Floating      | 11.77%                | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                         | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   4690000 | PA      | $3429306.90   | 0.89%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                    | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2060000 | PA      | $2072640.16   | 0.54%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                       | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1749206.36   | 0.45%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE ESCROW CL                                                     | CREDIT SUISSE ESCROW CL                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10560000 | PA      | $0.00         | 0.00%             | 2050-01-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Triton Water Holdings Inc                                                   | PRIMO BRANDS CORP                                                                | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |   1234088 | PA      | $1239912.83   | 0.32%             | 2028-03-31      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                                                         | Diebold Nixdorf Inc                                                              | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |    610000 | PA      | $648670.97    | 0.17%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                                                         | Apex Credit CLO 2019-II Ltd                                                      | CUSIP: 03755DAE2<br>LEI: 549300OKB854VBBC1981 | Long             | ABS-CBDO         | CORP              | KY        |    820000 | PA      | $829627.05    | 0.21%             | 2038-01-25      | Floating      | 11.95%                | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                           | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   3160000 | PA      | $3467951.48   | 0.90%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| B3 SA-BRASIL BOLSA BALCA                                                    | B3 SA - Brasil Bolsa Balcao                                                      | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | DBT              | CORP              | BR        |   1000000 | PA      | $917886.00    | 0.24%             | 2031-09-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                                    | Stonex Escrow Issuer LLC                                                         | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    660000 | PA      | $667169.86    | 0.17%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4810000 | PA      | $4284805.72   | 1.11%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196110.71    | 0.05%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                                           | Upbound Group Inc                                                                | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1366824.84   | 0.35%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDI                                                            | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    820000 | PA      | $722128.45    | 0.19%             | 2031-06-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                                | Ecopetrol SA                                                                     | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   4110000 | PA      | $2840023.56   | 0.74%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                                                      | Full House Resorts Inc                                                           | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3208818.36   | 0.83%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |     40243 | PA      | $603.65       | 0.00%             | 2028-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   3795850 | PA      | $3912951.97   | 1.01%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                                              | ARD Finance SA                                                                   | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   1374482 | PA      | $65287.90     | 0.02%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                      | EquipmentShare.com Inc                                                           | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1845324.80   | 0.48%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1150000 | PA      | $1303651.50   | 0.34%             | 2031-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                                        | Provincia de Cordoba                                                             | CUSIP: 74408DAE4<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    340000 | PA      | $322150.00    | 0.08%             | 2029-02-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                                                           | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |    306082 | PA      | $22190.93     | 0.01%             | 2029-09-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1057376.37   | 0.27%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    770000 | PA      | $775365.36    | 0.20%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                                                 | Balboa Bay Loan Funding 2023-1 Ltd                                               | CUSIP: 05766HAF2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    980000 | PA      | $984900.00    | 0.25%             | 2036-04-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1959254.50   | 0.51%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                                                     | Warwick Capital CLO 3 Ltd                                                        | CUSIP: 93655PAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    140000 | PA      | $141398.75    | 0.04%             | 2037-04-20      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    920000 | PA      | $978469.22    | 0.25%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NGPL PIPECO LLC                                                             | NGPL PipeCo LLC                                                                  | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1738065.55   | 0.45%             | 2037-12-15      | Fixed         | 7.77%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                           | Mountain View CLO XVI Ltd                                                        | CUSIP: 62432UAU5<br>LEI: 549300MWKXOHYV7Z8O91 | Long             | ABS-CBDO         | CORP              | KY        |    530000 | PA      | $531511.83    | 0.14%             | 2034-04-15      | Floating      | 8.45%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                                            | Ocean Trails Clo X                                                               | CUSIP: 67516BAE1<br>LEI: 635400RMMLHBGDGXBC03 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003724.50   | 0.26%             | 2034-10-15      | Floating      | 12.09%                | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                      | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1991847.33   | 0.52%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   2481281 | PA      | $2458788.43   | 0.64%             | 2031-05-16      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3028185.00   | 0.78%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MFA FINANCIAL INC                                                           | MFA Financial Inc                                                                | CUSIP: 55272X508<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |     18881 | NS      | $444081.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE CORP INTL                                                           | Service Corp International/US                                                    | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1659426.99   | 0.43%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                      | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1841389.20   | 0.48%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2990000 | PA      | $3141648.32   | 0.81%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492802.75    | 0.13%             | 2027-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                      | Williams Cos Inc/The                                                             | CUSIP: 969457BV1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   3190000 | PA      | $3129563.63   | 0.81%             | 2044-06-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SPIRIT AVIA HOL RESTRICT                                                    | SPIRIT AVIA HOL RESTRICT                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       346 | NS      | $1726.54      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ascensus Group Holdings Inc (f/k/a Mercury Borrower Inc)                    | ASCENSUS HOLDINGS INC                                                            | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    590580 | PA      | $592425.74    | 0.15%             | 2028-08-02      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Net, LLC                                                     | DIAMOND SPORTS NET LLC                                                           | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |   1555000 | PA      | $1420881.25   | 0.37%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                                         | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   2800000 | PA      | $2806527.72   | 0.73%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                                    | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    980000 | PA      | $1019775.26   | 0.26%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2539918.37   | 0.66%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CARRIAGE PURCHASER INC                                                      | Carriage Purchaser Inc                                                           | CUSIP: 14445LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1147348.45   | 0.30%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                        | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1299548.40   | 0.34%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | Goldentree Loan Management US CLO 1 Ltd                                          | CUSIP: 38136HAS8<br>LEI: 549300BE2068MP2P8N06 | Long             | ABS-CBDO         | CORP              | KY        |    470000 | PA      | $472055.40    | 0.12%             | 2034-04-20      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXIV Ltd                                                               | CUSIP: 55954XAE7<br>LEI: 549300P6T1S83Z2MDF55 | Long             | ABS-CBDO         | CORP              | KY        |    200000 | PA      | $200921.06    | 0.05%             | 2035-04-15      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                               | FirstCash Inc                                                                    | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982509.80    | 0.25%             | 2028-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                       | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1367000 | PA      | $1283492.02   | 0.33%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VERICAST CORPORATION                                                        | VERICAST CORP                                                                    | CUSIP: 92342KAD1<br>LEI: 549300J73P7FL8TVF308 | Long             | LON              | CORP              | US        |    679105 | PA      | $654490.42    | 0.17%             | 2026-06-16      | Floating      | 12.05%                | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                                      | UNITED AIRLINES INC                                                              | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |   1395751 | PA      | $1400552.14   | 0.36%             | 2031-02-22      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                    | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1840000 | PA      | $1945071.36   | 0.50%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHIMERA INVESTMENT CORP                                                     | Chimera Investment Corp                                                          | CUSIP: 16934Q505<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |     10320 | NS      | $232922.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AGL CLO Ltd.                                                                | AGL CLO 17 Ltd                                                                   | CUSIP: 00120EAE4<br>LEI: 254900ISUA07JPVCOS18 | Long             | ABS-CBDO         | CORP              | KY        |   1240000 | PA      | $1180687.58   | 0.31%             | 2035-01-21      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                                                    | Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV                             | CUSIP: 36268NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   1160000 | PA      | $1712081.52   | 0.44%             | 2031-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AGNC INVESTMENT CORP                                                        | AGNC Investment Corp                                                             | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     33858 | NS      | $850174.38    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    350000 | PA      | $365062.23    | 0.09%             | 2028-02-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                                                    | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                                 | CUSIP: 84859BAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1517297 | PA      | $1088660.36   | 0.28%             | 2030-03-12      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                            | Trestles CLO VIII Ltd                                                            | CUSIP: 89533EAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $389735.27    | 0.10%             | 2035-06-11      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                     | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1840000 | PA      | $1864045.12   | 0.48%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                    | Service Properties Trust                                                         | CUSIP: 44106MAX0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    226000 | PA      | $208937.28    | 0.05%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                           | Kinder Morgan Inc                                                                | CUSIP: 28368EAE6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   6920000 | PA      | $7992819.92   | 2.07%             | 2032-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                     | United Rentals North America Inc                                                 | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031273.00   | 0.27%             | 2034-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   2111368 | PA      | $1928450.09   | 0.50%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                       | American Airlines Inc                                                            | CUSIP: 023771T32<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |   3670000 | PA      | $3750461.08   | 0.97%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                       | Tenet Healthcare Corp                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1893828.97   | 0.49%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2010000 | PA      | $2198887.74   | 0.57%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    390000 | PA      | $394597.31    | 0.10%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                                      | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    490000 | PA      | $501510.59    | 0.13%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NCL FINANCE LTD                                                             | NCL Finance Ltd                                                                  | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1810000 | PA      | $1840576.33   | 0.48%             | 2028-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CDX.NA.HY.44.V1                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $205535.07    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    270000 | PA      | $280111.77    | 0.07%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                                    | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1510000 | PA      | $674569.85    | 0.17%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   5670000 | PA      | $3994741.29   | 1.03%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                                                  | Viasat Inc                                                                       | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1214121.20   | 0.31%             | 2031-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                                     | XPO Inc                                                                          | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048772.00   | 0.27%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                    | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1846058.78   | 0.48%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                                                    | Park-Ohio Industries Inc                                                         | CUSIP: 700677AR8<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488728.65    | 0.13%             | 2027-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                                        | Vermilion Energy Inc                                                             | CUSIP: 923725AD7<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |    730000 | PA      | $702450.60    | 0.18%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1475260.24   | 0.38%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                                            | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119204.40    | 0.03%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| ACProducts Holdings Inc                                                     | ACProducts Holdings Inc                                                          | CUSIP: 00488YAB2<br>LEI: 254900KTNXVUUHWHBF39 | Long             | LON              | CORP              | US        |    393846 | PA      | $300185.60    | 0.08%             | 2028-05-17      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                       | Caesars Entertainment Inc                                                        | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    470000 | PA      | $482568.16    | 0.12%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    320000 | PA      | $334374.08    | 0.09%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                     | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    680000 | PA      | $605504.91    | 0.16%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP                                                           | Tutor Perini Corp                                                                | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |   2070000 | PA      | $2331832.23   | 0.60%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                                    | JH North America Holdings Inc                                                    | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    370000 | PA      | $373462.09    | 0.10%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                     | United Rentals North America Inc                                                 | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    376000 | PA      | $376364.72    | 0.10%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                              | Wynn Macau Ltd                                                                   | CUSIP: 98313RAE6<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1054000 | PA      | $1013621.26   | 0.26%             | 2029-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | CLARIOS GLOBAL LP                                                                | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    995000 | PA      | $993447.80    | 0.26%             | 2030-05-06      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                               | DISH DBS Corp                                                                    | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2768000 | PA      | $1847640.00   | 0.48%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                                          | Credit Agricole SA                                                               | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   2290000 | PA      | $2320560.05   | 0.60%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   6410000 | PA      | $5397152.05   | 1.40%             | 2050-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                            | CIFC Funding 2022-II Ltd                                                         | CUSIP: 12567QAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $297275.64    | 0.08%             | 2035-04-19      | Floating      | 9.02%                 | No            |                  2 | On Loan: No      |
| SPRINT CAPITAL CORP                                                         | Sprint Capital Corp                                                              | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   5910000 | PA      | $7172689.05   | 1.86%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| WW INTERNATIONAL INC                                                        | WW INTERNATIONAL INC                                                             | CUSIP: 92941PAE3<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |   1248802 | PA      | $1136410.06   | 0.29%             | 2030-06-24      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| DCert Buyer Inc                                                             | Dcert Buyer Inc                                                                  | CUSIP: 24022KAB5<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |   1121383 | PA      | $1113202.86   | 0.29%             | 2026-10-16      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions) | PRIME SECURITY SERVICES BOR                                                      | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    992512 | PA      | $994125.33    | 0.26%             | 2030-10-13      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    858770 | PA      | $1013348.12   | 0.26%             | 2030-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                                      | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1170000 | PA      | $1069165.89   | 0.28%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                           | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    530000 | PA      | $557936.83    | 0.14%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3260000 | PA      | $3522716.88   | 0.91%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2087975.34   | 0.54%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Western Asset High Income Opportunity Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer