# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0000910472-26-009940
**Filing Date:** 2026-6
**Character Count:** 78083
**Document Hash:** d754d83f80db65892223017dac2f4bed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-009940.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0000910472-26-009940

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Lights Fund Trust
- **CENTRAL INDEX KEY:** 0001314414

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21720
- **FILM NUMBER:** 261125316

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Strategy Shares
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mutual Fund & Variable Insurance Trust
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Northern Lights Fund Trust
- **DATE OF NAME CHANGE:** 20050121

## Series and Classes Contracts Data

### Toews Tactical Income Fund (Series ID: S000027930)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000084894 | Toews Tactical Income Fund | THHYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Northern Lights Fund Trust

- **b. Investment Company Act file number:** 811-21720

- **c. CIK number of Registrant:** 0001314414

- **d. LEI of Registrant:** 549300BSYF57GRCG4861

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

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

- **a. Name of Series:** Toews Tactical Income Fund

- **b. EDGAR series identifier (if any):** S000027930

- **c. LEI of Series:** 54930005LCFSOMQTFP09

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-04-30

**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:** $382345382.27

**Total Liabilities:** $433996.49

**Net Assets:** $381911385.78

**Cash Not Reported:** $4732.35

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 29.10823400 | **1-Year:** 1594.72883300 | **5-Year:** 8490.81367100 | **10-Year:** 15419.79010700 | **30-Year:** 3829.42725300

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

- **3-Month:** 239.71248200 | **1-Year:** 5235.57923800 | **5-Year:** 10183.47817300 | **10-Year:** 1322.16453600 | **30-Year:** 80.24233300

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000084894 | 0.05%                | -0.56%               | 0.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1987.73                 | $-1466361.49                               |
| Month 2  | $-3383197.49             | $-1740188.80                               |
| Month 3  | $12336.50                | $2989416.17                                |

**Designated Index Information**

- **Index Name:** ICE BofAML US Cash Pay High Yield Index

- **Index Identifier:** J0A0-USD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MIDWEST GAMING BORROWER LLC                                               | MWGAME 4 7/8 05/01/29        | CUSIP: 59833DAB6<br>LEI: 5493005826VXDUREHL94 | Long             | DBT              | CORP              | US        |    750000 | PA      | $734910.75    | 0.19%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| 1011778 B.C. ULC / NEW RED FINANCE INC                                    | BCULC 3 7/8 01/15/28         | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $490963.15    | 0.13%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           | 2                  | On Loan: No      |
| DBX ETF TRUST                                                             | XTRACKERS USD HI             | CUSIP: 233051432<br>LEI: DNLQXYGHEZ10Q9SIK386 | Long             | EC               | RF                | US        |    500000 | NS      | $18370000.00  | 4.81%             |  |  |  | No            | 1                  | On Loan: No      |
| UNIVISION COMMUNICATIONS INC                                              | UVN 7 3/8 06/30/30           | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749707.88    | 0.20%             | 2030-06-30      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| CAESARS ENTERTAINMENT INC                                                 | CZR 7 02/15/30               | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507435.50    | 0.13%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| NRG ENERGY INC                                                            | NRG 6 01/15/36               | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    350000 | PA      | $347226.53    | 0.09%             | 2036-01-15      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| W.R. GRACE HOLDINGS LLC                                                   | GRA 5 5/8 08/15/29           | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    600000 | PA      | $572006.10    | 0.15%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           | 2                  | On Loan: No      |
| METLIFE INC                                                               | MET 10 3/4 08/01/39          | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $2205777.20   | 0.58%             | 2039-08-01      | Fixed         | 10.75%                | No            | 2                  | On Loan: No      |
| MERCK & COMPANY INC                                                       | MRK 6 1/2 12/01/33           | CUSIP: 806605AG6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    500000 | PA      | $555188.24    | 0.15%             | 2033-12-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| DAVITA INC                                                                | DVA 4 5/8 06/01/30           | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $968427.54    | 0.25%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| ORGANON & COMPANY                                                         | OGN 5 1/8 04/30/31           | CUSIP: 68622TAB7<br>LEI: 549300AMCKY57OK2CO56 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298330.88    | 0.08%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           | 2                  | On Loan: No      |
| PEPSICO INC                                                               | PEP 7 03/01/29               | CUSIP: 713448EG9<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1075773.06   | 0.28%             | 2029-03-01      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE CORP                     | IEP 9 06/15/30               | CUSIP: 451102CJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $384100.64    | 0.10%             | 2030-06-15      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD                                               | RCL 6 1/4 03/15/32           | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    750000 | PA      | $767060.05    | 0.20%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| US FOODS INC                                                              | USFOOD 4 3/4 02/15/29        | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395872.00    | 0.10%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| FREEDOM MORTGAGE HOLDINGS LLC                                             | FREMOR 9 1/4 02/01/29        | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    350000 | PA      | $361568.16    | 0.09%             | 2029-02-01      | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| MACY'S RETAIL HOLDINGS LLC                                                | M 5 7/8 03/15/30             | CUSIP: 55617LAQ5<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |    209000 | PA      | $208596.13    | 0.05%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| WYNN MACAU LTD                                                            | WYNMAC 5 5/8 08/26/28        | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    850000 | PA      | $846973.15    | 0.22%             | 2028-08-26      | Fixed         | 5.62%                 | Yes           | 2                  | On Loan: No      |
| LAS VEGAS SANDS CORP                                                      | LVS 3.9 08/08/29             | CUSIP: 517834AF4<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    700000 | PA      | $675903.34    | 0.18%             | 2029-08-08      | Fixed         | 3.90%                 | No            | 2                  | On Loan: No      |
| VALE OVERSEAS LTD                                                         | VALEBZ 8 1/4 01/17/34        | CUSIP: 91911TAE3<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $1189610.00   | 0.31%             | 2034-01-17      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| ALTICE FINANCING SA                                                       | ALTICE 5 3/4 08/15/29        | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    350000 | PA      | $257869.40    | 0.07%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| KOHL'S CORP                                                               | KSS 3 3/8 05/01/31           | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    500000 | PA      | $408100.35    | 0.11%             | 2031-05-01      | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| TELECOM ITALIA CAPITAL SA                                                 | TITIM 6 3/8 11/15/33         | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $420272.40    | 0.11%             | 2033-11-15      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| COMMUNITY HEALTH SYSTEMS INC                                              | CYH 10 7/8 01/15/32          | CUSIP: 12543DBN9<br>LEI: 549300BQWM4WENQ3YW73 | Long             | DBT              | CORP              | US        |    522000 | PA      | $560876.47    | 0.15%             | 2032-01-15      | Fixed         | 10.88%                | Yes           | 2                  | On Loan: No      |
| ASTON MARTIN CAPITAL HOLDINGS LTD                                         | ASTONM 10 03/31/29           | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    500000 | PA      | $401750.00    | 0.11%             | 2029-03-31      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| EXPAND ENERGY CORP                                                        | SWN 4 3/4 02/01/32           | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    600000 | PA      | $588731.58    | 0.15%             | 2032-02-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| AVANTOR FUNDING INC                                                       | AVTR 4 5/8 07/15/28          | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    400000 | PA      | $394535.00    | 0.10%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| DOMINION ENERGY INC                                                       | D 7 06/15/38                 | CUSIP: 25746UBD0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1110427.29   | 0.29%             | 2038-06-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| KRAFT HEINZ FOODS COMPANY                                                 | KHC 6 7/8 01/26/39           | CUSIP: 50076QAR7<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    750000 | PA      | $817163.60    | 0.21%             | 2039-01-26      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| KFC HOLDING COMPANY                                                       | YUM 4 3/4 06/01/27           | CUSIP: 48250NAC9<br>LEI: 549300G2LG4YUB3MM115 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998791.90    | 0.26%             | 2027-06-01      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| OLYMPUS WATER US HOLDING CORP                                             | SOLEIN 7 1/4 02/15/33        | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    400000 | PA      | $391321.88    | 0.10%             | 2033-02-15      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                      | CLF 6 3/4 04/15/30           | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    700000 | PA      | $694340.36    | 0.18%             | 2030-04-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP                              | CHTR 4 3/4 03/01/30          | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1185143.63   | 0.31%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| TOSCO CORP (NEW)                                                          | COP 8 1/8 02/15/30           | CUSIP: 891490AT1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1114614.56   | 0.29%             | 2030-02-15      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| SPDR SERIES TRUST                                                         | SPDR PORT HY BD              | CUSIP: 78468R606<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |   1000000 | NS      | $23550000.00  | 6.17%             |  |  |  | No            | 1                  | On Loan: No      |
| MIDCAP FINANCIAL ISSUER TRUST                                             | MIDCAP 6 1/2 05/01/28        | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $297814.14    | 0.08%             | 2028-05-01      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                                                        | ALLY 6.7 02/14/33            | CUSIP: 02005NBS8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    400000 | PA      | $413272.26    | 0.11%             | 2033-02-14      | Fixed         | 6.70%                 | No            | 2                  | On Loan: No      |
| TENNECO LLC                                                               | TEN 8 11/17/28               | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    600000 | PA      | $607293.60    | 0.16%             | 2028-11-17      | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| MILLROSE PROPERTIES INC                                                   | MRP 6 3/8 08/01/30           | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $354635.87    | 0.09%             | 2030-08-01      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| FLUOR CORP                                                                | FLR 4 1/4 09/15/28           | CUSIP: 343412AF9<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395873.08    | 0.10%             | 2028-09-15      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| VIKING BAKED GOODS ACQUISITION CORP                                       | RISBAK 8 5/8 11/01/31        | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |    350000 | PA      | $357925.05    | 0.09%             | 2031-11-01      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| ROCKET MORTGAGE LLC                                                       | RKTRM 3 7/8 03/01/31         | CUSIP: 74841CAB7<br>LEI: 549300FGXN1K3HLB1R50 | Long             | DBT              | CORP              | US        |    600000 | PA      | $557402.43    | 0.15%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           | 2                  | On Loan: No      |
| ISHARES TRUST                                                             | ISHARES IBOXX HI             | CUSIP: 464288513<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    165000 | NS      | $13262700.00  | 3.47%             |  |  |  | No            | 1                  | On Loan: —       |
| TGNR INTERMEDIATE HOLDINGS LLC                                            | RCKENE 5 1/2 10/15/29        | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493473.96    | 0.13%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| UNITED AIRLINES INC                                                       | UAL 4 5/8 04/15/29           | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395037.32    | 0.10%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| WINDSOR HOLDINGS III LLC                                                  | UNVR 8 1/2 06/15/30          | CUSIP: 97360AAA5<br>LEI: 254900IXUJZ9H146T437 | Long             | DBT              | CORP              | US        |    350000 | PA      | $365847.65    | 0.10%             | 2030-06-15      | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |
| MCAFEE CORP                                                               | MCFE 7 3/8 02/15/30          | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    400000 | PA      | $324486.40    | 0.08%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| HILLENBRAND INC                                                           | HI 3 3/4 03/01/31            | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |    600000 | PA      | $581716.56    | 0.15%             | 2031-03-01      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| NETFLIX INC                                                               | NFLX 5 7/8 11/15/28          | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    500000 | PA      | $519154.63    | 0.14%             | 2028-11-15      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| 1011778 B.C. ULC / NEW RED FINANCE INC                                    | BCULC 4 10/15/30             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    750000 | PA      | $714017.18    | 0.19%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: No      |
| DISCOVERY GLOBAL HOLDINGS INC                                             | WBD 4.279 03/15/32           | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    650000 | PA      | $588250.00    | 0.15%             | 2032-03-15      | Fixed         | 4.28%                 | No            | 2                  | On Loan: No      |
| NOVELIS CORP                                                              | HNDLIN 4 3/4 01/30/30        | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    750000 | PA      | $718970.25    | 0.19%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| ULTIMATE KRONOS GROUP INC                                                 | ULTI 6 7/8 02/01/31          | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $973356.20    | 0.25%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                                    | LUMN 4 1/2 01/15/29          | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    800000 | PA      | $768560.00    | 0.20%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| 1261229 B.C. LTD                                                          | BHCCN 10 04/15/32            | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    300000 | PA      | $310100.27    | 0.08%             | 2032-04-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| CARNIVAL CORP                                                             | CCL 5 3/4 08/01/32           | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    350000 | PA      | $352151.10    | 0.09%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD                                               | RCL 6 02/01/33               | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    500000 | PA      | $507829.43    | 0.13%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| CHENIERE ENERGY INC                                                       | LNG 4 5/8 10/15/28           | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398724.52    | 0.10%             | 2028-10-15      | Fixed         | 4.62%                 | No            | 2                  | On Loan: No      |
| NEPTUNE BIDCO US INC                                                      | NLSN 9.29 04/15/29           | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506054.95    | 0.13%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           | 2                  | On Loan: No      |
| USA COMPRESSION PARTNERS LP                                               | USAC 7 1/8 03/15/29          | CUSIP: 91740PAG3<br>LEI: 5493000B1PEOKXRZEO65 | Long             | DBT              | CORP              | US        |    750000 | PA      | $773763.75    | 0.20%             | 2029-03-15      | Fixed         | 7.12%                 | Yes           | 2                  | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                                             | F 7.35 11/04/27              | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    750000 | PA      | $773073.25    | 0.20%             | 2027-11-04      | Fixed         | 7.35%                 | No            | 2                  | On Loan: No      |
| TRONOX INC                                                                | TROX 4 5/8 03/15/29          | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    550000 | PA      | $460694.32    | 0.12%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| ISHARES TRUST                                                             | ISHARES BROAD US             | CUSIP: 46435U853<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |   4800000 | NS      | $178704000.00 | 46.79%            |  |  |  | No            | 1                  | On Loan: No      |
| AVIS BUDGET CAR RENT LLC / AVIS BUDGET FINANCE INC                        | CAR 5 3/8 03/01/29           | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $388943.74    | 0.10%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| COINBASE GLOBAL INC                                                       | COIN 3 3/8 10/01/28          | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143910.81    | 0.04%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           | 2                  | On Loan: No      |
| DIRECTV FINANCING LLC / DIRECTV FINANCING CO-OBLIGOR INC                  | DTV 10 02/15/31              | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1041188.00   | 0.27%             | 2031-02-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| AMERICAN AXLE & MANUFACTURING INC                                         | AXL 7 3/4 10/15/33           | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488930.94    | 0.13%             | 2033-10-15      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| CITIGROUP INC                                                             | C 8 1/8 07/15/39             | CUSIP: 172967EW7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1252479.48   | 0.33%             | 2039-07-15      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| GRAY MEDIA INC                                                            | GTN 10 1/2 07/15/29          | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    450000 | PA      | $477954.90    | 0.13%             | 2029-07-15      | Fixed         | 10.50%                | Yes           | 2                  | On Loan: No      |
| UNITI SERVICES LLC                                                        | WIN 8 1/4 10/01/31           | CUSIP: 97381AAA0<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    400000 | PA      | $423287.20    | 0.11%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                      | CLF 7 03/15/32               | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    750000 | PA      | $750438.75    | 0.20%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| IQVIA INC                                                                 | IQV 6 1/4 06/01/32           | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407686.40    | 0.11%             | 2032-06-01      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| SPDR SERIES TRUST                                                         | SPDR BLOOMBERG H             | CUSIP: 78468R622<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    250000 | NS      | $24207500.00  | 6.34%             |  |  |  | No            | 1                  | On Loan: —       |
| PROGRESS ENERGY INC                                                       | DUK 7 3/4 03/01/31           | CUSIP: 743263AE5<br>LEI: 549300FBMTW0JYWMNB26 | Long             | DBT              | CORP              | US        |    750000 | PA      | $843957.65    | 0.22%             | 2031-03-01      | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| STANDARD BUILDING SOLUTIONS INC                                           | BMCAUS 4 3/8 07/15/30        | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    850000 | PA      | $811124.06    | 0.21%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| DELL INTERNATIONAL LLC / EMC CORP                                         | DELL 8.1 07/15/36            | CUSIP: 24703TAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $893276.45    | 0.23%             | 2036-07-15      | Fixed         | 8.10%                 | No            | 2                  | On Loan: No      |
| ENCOMPASS HEALTH CORP                                                     | EHC 4 3/4 02/01/30           | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492309.05    | 0.13%             | 2030-02-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| APPALACHIAN POWER COMPANY                                                 | AEP 7 04/01/38               | CUSIP: 037735CM7<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1115248.77   | 0.29%             | 2038-04-01      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| PENNYMAC FINANCIAL SERVICES INC                                           | PFSI 6 7/8 05/15/32          | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    400000 | PA      | $396018.12    | 0.10%             | 2032-05-15      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| IRON MOUNTAIN INC (REIT)                                                  | IRM 5 1/4 07/15/30           | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496089.20    | 0.13%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| SPRINT CAPITAL CORP                                                       | S 8 3/4 03/15/32             | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1190019.95   | 0.31%             | 2032-03-15      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM CORP                                                 | OXY 6 1/8 01/01/31           | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    750000 | PA      | $783252.75    | 0.21%             | 2031-01-01      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                  | LLOYDS 7.953 11/15/33        | CUSIP: 539439AW9<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1142983.79   | 0.30%             | 2033-11-15      | Fixed         | 7.95%                 | No            | 2                  | On Loan: No      |
| CARVANA COMPANY                                                           | CVNA 14 06/01/31             | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    343470 | PA      | $380169.77    | 0.10%             | 2031-06-01      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| FIRSTENERGY CORP                                                          | FE 3.9 07/15/27              | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    700000 | PA      | $695340.65    | 0.18%             | 2027-07-15      | Fixed         | 3.90%                 | No            | 2                  | On Loan: No      |
| PBF HOLDING COMPANY LLC / PBF FINANCE CORP                                | PBFENE 6 02/15/28            | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $649772.18    | 0.17%             | 2028-02-15      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                     | QUIKHO 6 3/8 03/01/32        | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507341.50    | 0.13%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| ROLLS ROYCE PLC                                                           | ROLLS 5 3/4 10/15/27         | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    800000 | PA      | $811278.96    | 0.21%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| JONES DESLAURIERS INSURANCE MANAGEMENT INC                                | NAVCOR 8 1/2 03/15/30        | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $309403.50    | 0.08%             | 2030-03-15      | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |
| MERCEDES-BENZ FINANCE NORTH AMERICA LLC                                   | MBGGR 8 1/2 01/18/31         | CUSIP: 233835AQ0<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1737691.97   | 0.45%             | 2031-01-18      | Fixed         | 8.50%                 | No            | 2                  | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                    | VENLNG 8 3/8 06/01/31        | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1303755.00   | 0.34%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| SHIFT4 PAYMENTS LLC                                                       | FOUR 6 3/4 08/15/32          | CUSIP: 82453AAB3<br>LEI: 254900GTEMR7L40VPI74 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498780.40    | 0.13%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC / ALLIED UNIVERSAL FINANCE CORP               | UNSEAM 7 7/8 02/15/31        | CUSIP: 019576AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $419907.97    | 0.11%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           | 2                  | On Loan: No      |
| DIRECTV FINANCING LLC / DIRECTV FINANCING CO-OBLIGOR INC                  | DTV 5 7/8 08/15/27           | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1251691.25   | 0.33%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| WULF COMPUTE LLC                                                          | WULF 7 3/4 10/15/30          | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $368201.05    | 0.10%             | 2030-10-15      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| GENWORTH HOLDINGS INC                                                     | GNW 6 1/2 06/15/34           | CUSIP: 37247DAB2<br>LEI: PXDECZED7L8SRUP41R09 | Long             | DBT              | CORP              | US        |    550000 | PA      | $554768.41    | 0.15%             | 2034-06-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| SM ENERGY COMPANY                                                         | CIVI 8 3/4 07/01/31          | CUSIP: 17888HAB9<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    400000 | PA      | $419737.20    | 0.11%             | 2031-07-01      | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| ARDAGH METAL PACKAGING FINANCE PLC/ARDAGH METAL PACKAGING FINANCE USA LLC | AMPBEV 4 09/01/29            | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    400000 | PA      | $374665.72    | 0.10%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: No      |
| CQP HOLDCO LP / BIP-V CHINOOK HOLDCO LLC                                  | BLKCQP 5 1/2 06/15/31        | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $740757.60    | 0.19%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| HOWARD HUGHES CORP (THE)                                                  | HHH 4 3/8 02/01/31           | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    300000 | PA      | $281099.22    | 0.07%             | 2031-02-01      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| HERTZ CORP (THE)                                                          | HTZ 12 5/8 07/15/29          | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    800000 | PA      | $754606.00    | 0.20%             | 2029-07-15      | Fixed         | 12.62%                | Yes           | 2                  | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                    | VENLNG 9 7/8 02/01/32        | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $536593.00    | 0.14%             | 2032-02-01      | Fixed         | 9.88%                 | Yes           | 2                  | On Loan: No      |
| HUB INTERNATIONAL LTD                                                     | HBGCN 7 1/4 06/15/30         | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    300000 | PA      | $310494.60    | 0.08%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: No      |
| SEAGATE HDD CAYMAN                                                        | STX 9 5/8 12/01/32           | CUSIP: 81180WBM2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    500000 | PA      | $549685.17    | 0.14%             | 2032-12-01      | Fixed         | 9.62%                 | No            | 2                  | On Loan: No      |
| TRANSDIGM INC                                                             | TDG 6 3/4 08/15/28           | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    750000 | PA      | $761067.00    | 0.20%             | 2028-08-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| TENET HEALTHCARE CORP                                                     | THC 6 1/8 06/15/30           | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    900000 | PA      | $906147.90    | 0.24%             | 2030-06-15      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| TENET HEALTHCARE CORP                                                     | THC 6 1/8 10/01/28           | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    700000 | PA      | $702144.10    | 0.18%             | 2028-10-01      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| SBA COMMUNICATIONS CORP                                                   | SBAC 3 1/8 02/01/29          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    750000 | PA      | $722530.24    | 0.19%             | 2029-02-01      | Fixed         | 3.12%                 | No            | 2                  | On Loan: No      |
| UNITED RENTALS (NORTH AMERICA) INC                                        | URI 5 1/4 01/15/30           | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    750000 | PA      | $751985.25    | 0.20%             | 2030-01-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| EMRLD BORROWER LP                                                         | EMECLI 6 5/8 12/15/30        | CUSIP: 29103CAA6<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512435.00    | 0.13%             | 2030-12-15      | Fixed         | 6.62%                 | Yes           | 2                  | On Loan: No      |
| TRANSOCEAN INTERNATIONAL LTD                                              | RIG 8 3/4 02/15/30           | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    700000 | PA      | $733450.90    | 0.19%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| FMG RESOURCES (AUGUST 2006) PTY LTD                                       | FMGAU 4 3/8 04/01/31         | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $478321.34    | 0.13%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP                              | CHTR 5 1/8 05/01/27          | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    308000 | PA      | $307809.50    | 0.08%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           | 2                  | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                  | SVC 8 5/8 11/15/31           | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    300000 | PA      | $316371.30    | 0.08%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| CRC INSURANCE GROUP LLC                                                   | TIHLLC 7 1/8 06/01/31        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $402468.40    | 0.11%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           | 2                  | On Loan: No      |
| JETBLUE AIRWAYS CORP / JETBLUE LOYALTY LP                                 | JBLU 9 7/8 09/20/31          | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $370842.08    | 0.10%             | 2031-09-20      | Fixed         | 9.88%                 | Yes           | 2                  | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC                                             | JEF 6.45 06/08/27            | CUSIP: 472319AE2<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509350.54    | 0.13%             | 2027-06-08      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| MAUSER PACKAGING SOLUTIONS HOLDING COMPANY                                | BWY 7 7/8 04/15/27           | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500625.00    | 0.13%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           | 2                  | On Loan: No      |
| WEATHERFORD INTERNATIONAL LTD (BM)                                        | WFRD 8 5/8 04/30/30          | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    184000 | PA      | $188654.83    | 0.05%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                                               | SKX 10 07/15/33              | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    368917 | PA      | $405967.33    | 0.11%             | 2033-07-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| HILTON DOMESTIC OPERATING COMPANY INC                                     | HLT 3 5/8 02/15/32           | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    900000 | PA      | $824691.15    | 0.22%             | 2032-02-15      | Fixed         | 3.62%                 | Yes           | 2                  | On Loan: No      |
| GE AEROSPACE                                                              | GE 6 3/4 03/15/32            | CUSIP: 36962GXZ2<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2222819.16   | 0.58%             | 2032-03-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| ALLIANT HOLDINGS INTERMEDIATE LLC                                         | ALIANT 6 3/4 10/15/27        | CUSIP: 01883LAA1<br>LEI: 5493006Q26653NF8SI73 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300282.60    | 0.08%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC (THE)                                             | GS 6 3/4 10/01/37            | CUSIP: 38141GFD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3261169.74   | 0.85%             | 2037-10-01      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| BOSTON SCIENTIFIC CORP                                                    | BSX 7 3/8 01/15/40           | CUSIP: 101137AL1<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |    950000 | PA      | $1119002.37   | 0.29%             | 2040-01-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| PBF HOLDING COMPANY LLC / PBF FINANCE CORP                                | PBFENE 9 7/8 03/15/30        | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $537508.50    | 0.14%             | 2030-03-15      | Fixed         | 9.88%                 | Yes           | 2                  | On Loan: No      |
| ONEMAIN FINANCE CORP                                                      | OMF 6 5/8 05/15/29           | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    350000 | PA      | $356246.10    | 0.09%             | 2029-05-15      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                                                         | HSBC 8.113 11/03/33          | CUSIP: 404280DS5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    750000 | PA      | $862966.96    | 0.23%             | 2033-11-03      | Fixed         | 8.11%                 | No            | 2                  | On Loan: No      |
| C&S GROUP ENTERPRISES LLC                                                 | CSWHOL 5 12/15/28            | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $468165.70    | 0.12%             | 2028-12-15      | Fixed         | 5.00%                 | Yes           | 2                  | On Loan: No      |
| LIGHTNING POWER LLC                                                       | LIGPLL 7 1/4 08/15/32        | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    400000 | PA      | $424813.52    | 0.11%             | 2032-08-15      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: No      |
| DEUTSCHE TELEKOM INTERNATIONAL FINANCE BV                                 | DT 9 1/4 06/01/32            | CUSIP: 25156PAD5<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $2449645.34   | 0.64%             | 2032-06-01      | Fixed         | 9.25%                 | No            | 2                  | On Loan: No      |
| JAZZ SECURITIES DAC                                                       | JAZZ 4 3/8 01/15/29          | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $978530.14    | 0.26%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| SIMON PROPERTY GROUP LP                                                   | SPG 6 3/4 02/01/40           | CUSIP: 828807CE5<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    750000 | PA      | $843085.36    | 0.22%             | 2040-02-01      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| MORGAN STANLEY                                                            | MS 7 1/4 04/01/32            | CUSIP: 617446HD4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    750000 | PA      | $850898.76    | 0.22%             | 2032-04-01      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| BLOCK INC                                                                 | SQ 3 1/2 06/01/31            | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454267.40    | 0.12%             | 2031-06-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| VISTRA OPERATIONS COMPANY LLC                                             | VST 7 3/4 10/15/31           | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    400000 | PA      | $419680.80    | 0.11%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| SIRIUS XM RADIO LLC                                                       | SIRI 4 07/15/28              | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971660.60    | 0.25%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: No      |
| NISSAN MOTOR CO LTD                                                       | NSANY 4.81 09/17/30          | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    500000 | PA      | $467637.18    | 0.12%             | 2030-09-17      | Fixed         | 4.81%                 | Yes           | 2                  | On Loan: No      |
| QXO INC                                                                   | QXO 6 3/4 04/30/32           | CUSIP: 74825NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $611264.40    | 0.16%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| BANKSAFE TOEWS MONEY MARKET                                               | BANKSAFE TOEWS               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2422097 | PA      | $2422096.79   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| ATHENAHEALTH GROUP INC                                                    | ATHENA 6 1/2 02/15/30        | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $477035.36    | 0.12%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| KONINKLIJKE PHILIPS NV                                                    | PHIANA 6 7/8 03/11/38        | CUSIP: 500472AC9<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | DBT              | CORP              | NL        |    750000 | PA      | $829488.40    | 0.22%             | 2038-03-11      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| STAPLES INC                                                               | SPLS 10 3/4 09/01/29         | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    800000 | PA      | $764611.68    | 0.20%             | 2029-09-01      | Fixed         | 10.75%                | Yes           | 2                  | On Loan: No      |
| LIVE NATION ENTERTAINMENT INC                                             | LYV 6 1/2 05/15/27           | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1201302.00   | 0.31%             | 2027-05-15      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                                                      | BAC 7 3/4 05/14/38           | CUSIP: 59023VAA8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1196649.29   | 0.31%             | 2038-05-14      | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| MEDLINE BORROWER LP                                                       | MEDIND 3 7/8 04/01/29        | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972542.80    | 0.25%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           | 2                  | On Loan: No      |
| ATMOS ENERGY CORP                                                         | ATO 5.45 10/15/32            | CUSIP: 049560AX3<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    500000 | PA      | $519585.90    | 0.14%             | 2032-10-15      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| CANADIAN PACIFIC RAILWAY COMPANY                                          | CP 7 1/8 10/15/31            | CUSIP: 13645RAD6<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $838093.51    | 0.22%             | 2031-10-15      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| STARWOOD PROPERTY TRUST INC                                               | STWD 4 3/8 01/15/27          | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    800000 | PA      | $798446.00    | 0.21%             | 2027-01-15      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| APACHE CORP                                                               | APA 5.1 09/01/40             | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    500000 | PA      | $438600.23    | 0.11%             | 2040-09-01      | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| TRANSOCEAN INTERNATIONAL LTD                                              | RIG 7 1/2 04/15/31           | CUSIP: 893830AF6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $515377.50    | 0.13%             | 2031-04-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| CLOUD SOFTWARE GROUP HOLDINGS INC                                         | TIBX 6 1/2 03/31/29          | CUSIP: 88632QAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $632856.45    | 0.17%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| FRONTIER COMMUNICATIONS HOLDINGS LLC                                      | FYBR 8 3/4 05/15/30          | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $511880.50    | 0.13%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| BARCLAYS PLC                                                              | BACR 7.437 11/02/33          | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1121875.87   | 0.29%             | 2033-11-02      | Fixed         | 7.44%                 | No            | 2                  | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                                  | BLDR 4 1/4 02/01/32          | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    650000 | PA      | $603967.52    | 0.16%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           | 2                  | On Loan: No      |
| RAKUTEN GROUP INC                                                         | RAKUTN 9 3/4 04/15/29        | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    800000 | PA      | $876647.10    | 0.23%             | 2029-04-15      | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| DISCOVERY GLOBAL HOLDINGS INC                                             | WBD 5.05 03/15/42            | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    400000 | PA      | $286188.00    | 0.07%             | 2042-03-15      | Fixed         | 5.05%                 | No            | 2                  | On Loan: No      |
| CHOBANI LLC / CHOBANI FINANCE CORP INC                                    | CHBANI 7 5/8 07/01/29        | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $310008.90    | 0.08%             | 2029-07-01      | Fixed         | 7.62%                 | Yes           | 2                  | On Loan: No      |
| CONNECT FINCO SARL / CONNECT US FINCO LLC                                 | ISATLN 9 09/15/29            | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    500000 | PA      | $527950.24    | 0.14%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| JANE STREET GROUP LLC                                                     | JANSTR 4 1/2 11/15/29        | CUSIP: 47077WAA6<br>LEI: 5493002N1IVX6KHGYO08 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242947.58    | 0.06%             | 2029-11-15      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| MICROSOFT CORP                                                            | MSFT 2.921 03/17/52          | CUSIP: 594918CE2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $1916485.77   | 0.50%             | 2052-03-17      | Fixed         | 2.92%                 | No            | 2                  | On Loan: No      |
| UNITED RENTALS (NORTH AMERICA) INC                                        | URI 3 7/8 11/15/27           | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    650000 | PA      | $641765.28    | 0.17%             | 2027-11-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| HUB INTERNATIONAL LTD                                                     | HBGCN 7 3/8 01/31/32         | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    350000 | PA      | $358723.22    | 0.09%             | 2032-01-31      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM CORP                                                 | OXY 6.45 09/15/36            | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1075453.00   | 0.28%             | 2036-09-15      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| MELCO RESORTS FINANCE LTD                                                 | MPEL 5 3/8 12/04/29          | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    850000 | PA      | $831162.93    | 0.22%             | 2029-12-04      | Fixed         | 5.38%                 | Yes           | 2                  | On Loan: No      |
| UBER TECHNOLOGIES INC                                                     | UBER 4 1/2 08/15/29          | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991696.50    | 0.26%             | 2029-08-15      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| VOYAGER PARENT LLC                                                        | EVRI 9 1/4 07/01/32          | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    400000 | PA      | $425615.60    | 0.11%             | 2032-07-01      | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| VERDE PURCHASER LLC                                                       | VRTV 10 1/2 11/30/30         | CUSIP: 92339LAA0<br>LEI: 2549004HFEKMUGBG3Z35 | Long             | DBT              | CORP              | US        |    300000 | PA      | $316227.00    | 0.08%             | 2030-11-30      | Fixed         | 10.50%                | Yes           | 2                  | On Loan: No      |
| NABORS INDUSTRIES INC                                                     | NBR 9 1/8 01/31/30           | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1050105.00   | 0.27%             | 2030-01-31      | Fixed         | 9.12%                 | Yes           | 2                  | On Loan: No      |
| NCL CORP LTD                                                              | NCLH 6 3/4 02/01/32          | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $497406.05    | 0.13%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| N/A                                                                       | STATE STREET INST US GOV MMF | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| CSC HOLDINGS LLC                                                          | CSCHLD 11 3/4 01/31/29       | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    750000 | PA      | $538028.25    | 0.14%             | 2029-01-31      | Fixed         | 11.75%                | Yes           | 2                  | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                                                   | TLN 8 5/8 06/01/30           | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    600000 | PA      | $627978.00    | 0.16%             | 2030-06-01      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| COREWEAVE INC                                                             | CRWV 9 02/01/31              | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    350000 | PA      | $347496.81    | 0.09%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| BAUSCH HEALTH COMPANIES INC                                               | BHCCN 11 09/30/28            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $520372.50    | 0.14%             | 2028-09-30      | Fixed         | 11.00%                | Yes           | 2                  | On Loan: No      |
| SUNOCO LP                                                                 | SUN 5 5/8 03/15/31           | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    400000 | PA      | $401642.40    | 0.11%             | 2031-03-15      | Fixed         | 5.62%                 | Yes           | 2                  | On Loan: No      |
| VALARIS LTD                                                               | VAL 8 3/8 04/30/30           | CUSIP: 91889FAC5<br>LEI: 5299008BQ9IREYWBTS30 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $417244.40    | 0.11%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| TRANSDIGM INC                                                             | TDG 6 3/8 05/31/33           | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    750000 | PA      | $756099.00    | 0.20%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| NAVIENT CORP                                                              | NAVI 5 1/2 03/15/29          | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    300000 | PA      | $288385.71    | 0.08%             | 2029-03-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| ARDONAGH FINCO LTD                                                        | ARDGRP 7 3/4 02/15/31        | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    300000 | PA      | $306113.76    | 0.08%             | 2031-02-15      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| ANHEUSER-BUSCH INBEV WORLDWIDE INC                                        | ABIBB 8.2 01/15/39           | CUSIP: 03523TBF4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2522942.52   | 0.66%             | 2039-01-15      | Fixed         | 8.20%                 | No            | 2                  | On Loan: No      |
| MPT OPERATING PARTNERSHIP LP                                              | MPW 3 1/2 03/15/31           | CUSIP: 55342UAM6<br>LEI: WUQXXXF7PXTUPGROE843 | Long             | DBT              | CORP              | US        |    400000 | PA      | $287157.84    | 0.08%             | 2031-03-15      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| NATIONSTAR MORTGAGE HOLDINGS INC                                          | COOP 7 1/8 02/01/32          | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $297000.00    | 0.08%             | 2032-02-01      | Fixed         | 7.12%                 | Yes           | 2                  | On Loan: No      |
| PG&E CORP                                                                 | PCG 5 07/01/28               | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189186.21    | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| DELTA AIR LINES INC                                                       | DAL 3 3/4 10/28/29           | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    400000 | PA      | $385233.69    | 0.10%             | 2029-10-28      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** Northern Lights Fund Trust

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer