# EDGAR Filing Document

**Accession Number:** 0001135300
**File Stem:** 0000894189-25-014248
**Filing Date:** 2025-11
**Character Count:** 81056
**Document Hash:** 2facc30f422dab63347b184333f68940
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014248.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0000894189-25-014248

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BUFFALO FUNDS
- **CENTRAL INDEX KEY:** 0001135300

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10303
- **FILM NUMBER:** 251508103

**BUSINESS ADDRESS:**
- **STREET 1:** KORNITZER CAPITAL MANAGEMENT, INC.
- **STREET 2:** 5420 WEST 61ST PLACE
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66205
- **BUSINESS PHONE:** 9136777778

**MAIL ADDRESS:**
- **STREET 1:** KORNITZER CAPITAL MANAGEMENT, INC.
- **STREET 2:** 5420 WEST 61ST PLACE
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66205

## Series and Classes Contracts Data

### Buffalo High Yield Fund (Series ID: S000022451)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000064612 | Investor Class      | BUFHX           |
| C000214592 | Institutional Class | BUIHX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Buffalo Funds

- **b. Investment Company Act file number:** 811-10303

- **c. CIK number of Registrant:** 0001135300

- **d. LEI of Registrant:** 2549004OPHDSAY1EO405

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

  - **Street Address 1:** 5420 West 61st Place

  - **City:** Mission

  - **State:** KS

  - **Foreign country:** US

  - **Zip / Postal Code:** 66205

  - **Telephone number:** 913-677-7778

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

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

- **b. EDGAR series identifier (if any):** S000022451

- **c. LEI of Series:** 254900EMR51UIYRX1H89

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $719067718.37

**Total Liabilities:** $5684771.53

**Net Assets:** $713382946.84

**Delayed Delivery Securities:** $2995000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 399.801877000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 93663.773339000000 | **1-Year:** 55739.110240000000 | **5-Year:** 18632.889312000000 | **10-Year:** 857.160438000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000064612 | 0.68%                | 0.77%                | 0.00%                |
| Class ID C000214592 | 0.69%                | 0.79%                | 0.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-234347.29              | $831399.74                                 |
| Month 2  | $38944.52                | $554945.26                                 |
| Month 3  | $-5944610.76             | $2097594.38                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DELUXE CORP                                        | Deluxe Corp                                                              | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3495385.04   | 0.49%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                           | Encore Capital Group Inc                                                 | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4220000.00   | 0.59%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                              | Freedom Mortgage Holdings LLC                                            | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3194118.00   | 0.45%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                     | Gray Media Inc                                                           | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102244.34    | 0.01%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                            | Crescent Energy Finance LLC                                              | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   4504000 | PA      | $4681164.84   | 0.66%             | 2028-02-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                              | Foundation Building Materials Inc                                        | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |   4949875 | PA      | $4964501.56   | 0.70%             | 2031-01-29      | Floating      | 8.36%                 | No            |                  2 | On Loan: No      |
| BAYTEX ENERGY CORP                                 | Baytex Energy Corp                                                       | CUSIP: 07317QAJ4<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |   2500000 | PA      | $2572452.50   | 0.36%             | 2030-04-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                        | Chemours Co/The                                                          | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1952568.40   | 0.27%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                                        | Deluxe Corp                                                              | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1045954.00   | 0.15%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                                         | EZCORP Inc                                                               | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2135976.00   | 0.30%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                       | Embecta Corp                                                             | CUSIP: 29081LAC8<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | LON              | CORP              | US        |   4924287 | PA      | $4929235.59   | 0.69%             | 2029-04-02      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                 | Bausch + Lomb Corp                                                       | CUSIP: C0787FAF9<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |   4421250 | PA      | $4426776.56   | 0.62%             | 2028-09-29      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| FLYNN RESTAURANT GROUP                             | Flynn Restaurant Group LP                                                | CUSIP: 34410JAG6<br>LEI: 5493008VE8TQONGO3817 | Long             | LON              | CORP              | US        |   3990000 | PA      | $4000912.65   | 0.56%             | 2032-01-28      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| DTI HOLDCO INC                                     | DTI Holdco Inc                                                           | CUSIP: 23358EAK5<br>LEI: 549300QQVMUL3P8XVJ27 | Long             | LON              | CORP              | US        |   5982500 | PA      | $5346889.29   | 0.75%             | 2029-04-26      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                                  | OneSky Flight LLC                                                        | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $5523876.75   | 0.77%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                           | Outfront Media Capital LLC / Outfront Media Capital Corp                 | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $961273.86    | 0.13%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PRIMO / TRITON WATER HLD                           | Primo Water Holdings Inc / Triton Water Holdings Inc                     | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1946511.80   | 0.27%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STRIDE INC                                         | Stride Inc                                                               | CUSIP: 86333MAA6<br>LEI: 254900BRWS3AFONWU277 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $4551601.50   | 0.64%             | 2027-09-01      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                            | Summer BC Holdco B SARL                                                  | CUSIP: N/A<br>LEI: 984500NRF59D5DB9B654       | Long             | LON              | CORP              | LU        |   5984887 | PA      | $5915072.95   | 0.83%             | 2029-02-21      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| PROMETRIC HOLDINGS INC                             | Prometric Holdings Inc                                                   | CUSIP: 80358TAG1<br>LEI: 54930034OH1XQT27TX40 | Long             | LON              | CORP              | US        |   1000000 | PA      | $1006125.00   | 0.14%             | 2032-06-25      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                           | United Natural Foods Inc                                                 | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2504891.75   | 0.35%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                      | Boeing Co/The                                                            | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |     90000 | NS      | $6261300.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOW GROUP INC                                  | Bristow Group Inc                                                        | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2264094.00   | 0.32%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                        | Chemours Co/The                                                          | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4976419.00   | 0.70%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                           | Consensus Cloud Solutions Inc                                            | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7497862.50   | 1.05%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                   | Credit Acceptance Corp                                                   | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2103784.00   | 0.29%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                             | Delek Logistics Partners LP / Delek Logistics Finance Corp               | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004337.00   | 0.14%             | 2028-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                              | Directv Financing LLC                                                    | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2979870.00   | 0.42%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH INC                               | Dotdash Meredith Inc                                                     | CUSIP: 25849JAA8<br>LEI: 549300R2AA7U9CJUQO13 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4957750.00   | 0.69%             | 2032-06-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                          | PG&E Corp                                                                | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |    135000 | NS      | $5316300.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E CORP                                          | PG&E Corp                                                                | CUSIP: 69331CAL2<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2027600.00   | 0.28%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                             | Patrick Industries Inc                                                   | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2941669.20   | 0.41%             | 2029-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                          | Pike Corp                                                                | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1073813.00   | 0.15%             | 2031-01-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                           | Service Properties Trust                                                 | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3197580.00   | 0.45%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                            | Teva Pharmaceutical Finance Netherlands III BV                           | CUSIP: 88167AAS0<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $273148.00    | 0.04%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VM CONSOLIDATED INC                                | VM Consolidated Inc                                                      | CUSIP: 91835HAA0<br>LEI: 549300GCTGJLEBXJUK89 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1998477.00   | 0.28%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                              | Directv Financing LLC                                                    | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7413100 | PA      | $7435117.30   | 1.04%             | 2029-08-02      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| EMERALD EXPO HOLDINGS INC                          | Emerald X Inc                                                            | CUSIP: 29088UAH0<br>LEI: 549300YQCBSQUCZ74696 | Long             | LON              | CORP              | US        |   5500000 | PA      | $5538940.00   | 0.78%             | 2032-01-30      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| VICTRA HOLDINGS LLC                                | Victra Holdings LLC                                                      | CUSIP: 50226BAN8<br>LEI: 549300KWDYQKQSF0MQ18 | Long             | LON              | CORP              | US        |   8165625 | PA      | $8192449.08   | 1.15%             | 2029-03-29      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| NEOGEN FOOD SAFE CORP                              | Neogen Food Safety Corp                                                  | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1151150.00   | 0.16%             | 2030-07-20      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| HIGHTOWER HOLDING LLC                              | Hightower Holding LLC                                                    | CUSIP: 43118DAB6<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4796203.50   | 0.67%             | 2030-01-31      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| IIP OPERATING PARTNER                              | IIP Operating Partnership LP                                             | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4972134.95   | 0.70%             | 2026-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                           | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc    | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5266960.00   | 0.74%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                               | Talos Production Inc                                                     | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2069566.00   | 0.29%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                            | Teva Pharmaceutical Finance Netherlands III BV                           | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   4000000 | PA      | $4154356.00   | 0.58%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRULITE GLASS ALUMINUM S                           | Trulite Glass & Aluminum Solutions LLC                                   | CUSIP: 89789MAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7265625 | PA      | $7283789.06   | 1.02%             | 2030-03-01      | Floating      | 10.29%                | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                           | Burford Capital Global Finance LLC                                       | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4525146.00   | 0.63%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                                 | Cerdia Finanz GmbH                                                       | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |   7000000 | PA      | $7428750.00   | 1.04%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| DYE & DURHAM LIMITED                               | Dye & Durham Ltd                                                         | CUSIP: 267486AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2100000 | PA      | $2078405.91   | 0.29%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                              | Genesis Energy LP / Genesis Energy Finance Corp                          | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $523940.00    | 0.07%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE                            | Global Medical Response Inc                                              | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514802.50    | 0.07%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HELIX ENERGY SOLUTIONS                             | Helix Energy Solutions Group Inc                                         | CUSIP: 42330PAL1<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6343620.00   | 0.89%             | 2029-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                            | Crescent Energy Finance LLC                                              | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4875919.50   | 0.68%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                             | JB Poindexter & Co Inc                                                   | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048441.00   | 0.15%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQUISITION HOLDI                           | Kronos Acquisition Holdings Inc                                          | CUSIP: 50106GAJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $2751593.50   | 0.39%             | 2032-06-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| KDC/ONE DEVELOPMENT CORP                           | KDC/ONE Development Corp Inc                                             | CUSIP: C4953EAH8<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   7962544 | PA      | $7990213.59   | 1.12%             | 2028-08-15      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                           | Advanced Drainage Systems Inc                                            | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1272791.25   | 0.18%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                           | Builders FirstSource Inc                                                 | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3962391.20   | 0.56%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                             | Delek Logistics Partners LP / Delek Logistics Finance Corp               | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3133218.00   | 0.44%             | 2029-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                             | Delek Logistics Partners LP / Delek Logistics Finance Corp               | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $508755.50    | 0.07%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance T/L B (07/25)        | Digicel International Finance T/L B (07/25)                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2002920.00   | 0.28%             | 2032-07-30      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                           | California Resources Corp                                                | CUSIP: 13057QAL1<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1987482.40   | 0.28%             | 2034-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CARS.COM INC                                       | Cars.com Inc                                                             | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3987441.20   | 0.56%             | 2028-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                             | Clydesdale Acquisition Holdings Inc                                      | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026524.12   | 0.14%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                    | Star Parent Inc                                                          | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |   2962500 | PA      | $2966203.13   | 0.42%             | 2030-09-30      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| CRC INSURANCE GROUP LLC                            | CRC Insurance Group LLC                                                  | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2105263 | PA      | $2147705.27   | 0.30%             | 2032-05-06      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS                              | Endo Finance Holdings Inc                                                | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9925000 | PA      | $9957057.75   | 1.40%             | 2031-04-23      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| ALLIANCE RES OP/FINANCE                            | Alliance Resource Operating Partners LP / Alliance Resource Finance Corp | CUSIP: 01879NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1056717.00   | 0.15%             | 2029-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| ENERFLEX LTD                                       | Enerflex Ltd                                                             | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |   2700000 | PA      | $2758395.60   | 0.39%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                  | GEO Group Inc/The                                                        | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4237296.00   | 0.59%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                              | McGraw-Hill Education Inc                                                | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1143775.60   | 0.16%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                           | Outfront Media Capital LLC / Outfront Media Capital Corp                 | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $961988.50    | 0.13%             | 2030-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BLACKHAWK NETWORK HOLD                             | Blackhawk Network Holdings Inc                                           | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |   3482500 | PA      | $3500191.10   | 0.49%             | 2029-03-12      | Floating      | 8.36%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                      | PRA Group Inc                                                            | CUSIP: 69354NAE6<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1535413.94   | 0.22%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                             | Patrick Industries Inc                                                   | CUSIP: 703343AG8<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $2032500.00   | 0.28%             | 2028-12-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                           | Phoenix Aviation Capital Ltd                                             | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    250000 | PA      | $266251.00    | 0.04%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC                              | Scripps Escrow II Inc                                                    | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $440954.23    | 0.06%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                           | Univision Communications Inc                                             | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4800771.00   | 0.67%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                               | Veritiv Operating Co                                                     | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |  15949799 | PA      | $15811354.85  | 2.22%             | 2030-11-29      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| TOWNSQUARE MEDIA INC                               | Townsquare Media Inc                                                     | CUSIP: 89223EAG8<br>LEI: 549300XBA8C68H0DR538 | Long             | LON              | CORP              | US        |   9937500 | PA      | $8831953.13   | 1.24%             | 2030-02-19      | Floating      | 9.19%                 | No            |                  2 | On Loan: No      |
| NEXUS BUYER LLC                                    | Nexus Buyer LLC                                                          | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |  10709312 | PA      | $10696193.04  | 1.50%             | 2031-07-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| LSCS HOLDINGS INC                                  | LSCS Holdings Inc                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3990000 | PA      | $3936813.30   | 0.55%             | 2032-03-04      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer (Promontory Interfinancial/IntraFi Net | Nexus Buyer (Promontory Interfinancial/IntraFi Net                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3000000 | PA      | $3000375.00   | 0.42%             | 2032-08-04      | Floating      | 10.07%                | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                      | PRA Group Inc                                                            | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |   5750000 | PA      | $5941123.62   | 0.83%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                             | Spirit AeroSystems Inc                                                   | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    500000 | PA      | $550528.50    | 0.08%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUI                           | Viking Baked Goods Acquisition Corp                                      | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6519090.50   | 0.91%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                        | Vistra Corp                                                              | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | EP               | CORP              | US        |   3500000 | PA      | $3556000.00   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | Energy Transfer LP                                                       | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |   7350000 | PA      | $7608639.15   | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | Energy Transfer LP                                                       | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1069421.00   | 0.15%             | 2054-05-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                            | K Hovnanian Enterprises Inc                                              | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512775.87    | 0.07%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                           | Jones Deslauriers Insurance Management Inc                               | CUSIP: C4900AAM9<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |   3456425 | PA      | $3446176.49   | 0.48%             | 2030-03-15      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| INMAR INC                                          | Inmar Inc                                                                | CUSIP: 45763FAV0<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |   1241888 | PA      | $1242278.69   | 0.17%             | 2031-10-30      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                   | StoneX Group Inc                                                         | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2103414.00   | 0.29%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                      | TransDigm Inc                                                            | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2025424.00   | 0.28%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                            | TransMontaigne Partners LLC                                              | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6254772.00   | 0.88%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                             | EquipmentShare.com Inc                                                   | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1945461.60   | 0.27%             | 2032-05-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                              | Freedom Mortgage Holdings LLC                                            | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $5544367.50   | 0.78%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                              | Genesis Energy LP / Genesis Energy Finance Corp                          | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6884468.50   | 0.97%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GRUPO AEROMEXICO SAB                               | Grupo Aeromexico SAB de CV                                               | CUSIP: 40054JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |  13000000 | PA      | $13014950.00  | 1.82%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GLOVES BUYER INC                                   | Gloves Buyer Inc                                                         | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |   8000000 | PA      | $7790000.00   | 1.09%             | 2032-05-24      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                                         | MasTec Inc                                                               | CUSIP: 576323AQ2<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3012825.00   | 0.42%             | 2029-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                           | Moss Creek Resources Holdings Inc                                        | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3922547.44   | 0.55%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FDG/PFG FIN                              | Provident Funding Associates LP / PFG Finance Corp                       | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8460184.00   | 1.19%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQUISITION HOLDI                           | Kronos Acquisition Holdings Inc                                          | CUSIP: 50106JAH9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4962500 | PA      | $3677683.94   | 0.52%             | 2031-07-08      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| M2S GROUP INTERMEDIATE H                           | M2S Group Intermediate Holdings Inc                                      | CUSIP: 55287CAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6557471 | PA      | $6521405.17   | 0.91%             | 2031-08-27      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                     | Gray Media Inc                                                           | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $749324.10    | 0.11%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                     | Gray Media Inc                                                           | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    500000 | PA      | $383750.00    | 0.05%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                     | Gray Media Inc                                                           | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2162554.00   | 0.30%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                           | Jefferson Capital Holdings LLC                                           | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $523622.00    | 0.07%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                            | K Hovnanian Enterprises Inc                                              | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512802.28    | 0.07%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| STARZ CAPITAL HOLDINGS                             | Starz Capital Holdings LLC                                               | CUSIP: 53627NAE1<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1641820.00   | 0.23%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                                     | NCR Atleos Corp                                                          | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2708747.50   | 0.38%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                             | Northern Oil & Gas Inc                                                   | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996592.26    | 0.14%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| OT MIDCO INC                                       | OT Midco Inc                                                             | CUSIP: 68877AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $5424839.76   | 0.76%             | 2030-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                           | Performance Food Group Inc                                               | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2995818.60   | 0.42%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                           | Prime Healthcare Services Inc                                            | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5205150.00   | 0.73%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| SATURN OIL & GAS INC                               | Saturn Oil & Gas Inc                                                     | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |  10683000 | PA      | $11070034.41  | 1.55%             | 2029-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                            | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC          | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11770000 | PA      | $12403520.25  | 1.74%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| FNZ USA FINCO                                      | FNZ USA FinCo LLC                                                        | CUSIP: 30339HAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5985000 | PA      | $4845366.23   | 0.68%             | 2031-11-05      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| KARMAN HOLDINGS INC                                | Karman Holdings Inc                                                      | CUSIP: 48571CAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3000000 | PA      | $3018750.00   | 0.42%             | 2032-04-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| HARROW INC                                         | Harrow Inc                                                               | CUSIP: 415858AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9365625.00   | 1.31%             | 2030-09-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| KALVISTA PHARMA INC                                | KalVista Pharmaceuticals Inc                                             | CUSIP: 483497AA1<br>LEI: 529900Q7IDA3WUGRZA51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1090314.88   | 0.15%             | 2031-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQUISITION HOLDI                           | Kronos Acquisition Holdings Inc                                          | CUSIP: 50106GAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2340345.60   | 0.33%             | 2031-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                             | Northern Oil & Gas Inc                                                   | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   9100000 | PA      | $9259805.10   | 1.30%             | 2028-03-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                           | Park-Ohio Industries Inc                                                 | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2075140.00   | 0.29%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE                             | Ardonagh Group Finance Ltd                                               | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |  11000000 | PA      | $11578820.00  | 1.62%             | 2032-02-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ARRAY TECHNOLOGIES INC                             | Array Technologies Inc                                                   | CUSIP: 04271TAB6<br>LEI: 549300JM5FECYJQ85V37 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1304275.71   | 0.18%             | 2028-12-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                             | RR Donnelley & Sons Co                                                   | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7180530.00   | 1.01%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                           | Encore Capital Group Inc                                                 | CUSIP: 292554AR3<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1328470.41   | 0.19%             | 2030-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                                      | Clue Opco LLC                                                            | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1070311.00   | 0.15%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MRT MID PART/MRT MID FIN                           | Martin Midstream Partners LP / Martin Midstream Finance Corp             | CUSIP: 573334AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7412073.13   | 1.04%             | 2028-02-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| PARADIGM PRNT/CO-ISSUER                            | Paradigm Parent LLC and Paradigm Parent CO-Issuer Inc                    | CUSIP: 69902PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2917500.00   | 0.41%             | 2032-04-17      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                           | PetSmart LLC / PetSmart Finance Corp                                     | CUSIP: 71677KAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5049440.00   | 0.71%             | 2033-09-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                            | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                  | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3824544.50   | 0.54%             | 2030-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                              | Six Flags Entertainment Corp                                             | CUSIP: 83001AAC6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1498442.82   | 0.21%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                            | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC          | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955917.28    | 0.13%             | 2032-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| DYE & DURHAM CORP                                  | Dye & Durham Corp                                                        | CUSIP: N/A<br>LEI: 549300XUQDPIC5QRY347       | Long             | LON              | CORP              | CA        |   2801197 | PA      | $2788941.85   | 0.39%             | 2031-04-14      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                               | Chart Industries Inc                                                     | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |   2440802 | PA      | $2457582.91   | 0.34%             | 2030-03-18      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Pretzel Parent T/L B (TAIT)                        | Pretzel Parent, Inc., Senior Secured First Lien Term Loan                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2992500 | PA      | $2995312.95   | 0.42%             | 2031-08-14      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| AI AQUA MERGER SUB INC                             | AI Aqua Merger Sub Inc                                                   | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |   1985000 | PA      | $1991163.90   | 0.28%             | 2028-07-31      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                         | Amneal Pharmaceuticals LLC                                               | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |  15000000 | PA      | $15012450.00  | 2.10%             | 2032-08-02      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                            | Avis Budget Car Rental LLC / Avis Budget Finance Inc                     | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4152640.00   | 0.58%             | 2030-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                           | Jones Deslauriers Insurance Management Inc                               | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $1990766.20   | 0.28%             | 2033-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                             | Match Group Holdings II LLC                                              | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997990.30    | 0.14%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIRUM PHARMACEUTICALS                              | Mirum Pharmaceuticals Inc                                                | CUSIP: 604749AB7<br>LEI: 254900YZKR40F7F27K81 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $2647150.00   | 0.37%             | 2029-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                 | Mativ Holdings Inc                                                       | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5947959.60   | 0.83%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NEXUS BUYER LLC                                    | Nexus Buyer LLC                                                          | CUSIP: 65343UAJ1<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |   2000000 | PA      | $2002510.00   | 0.28%             | 2031-07-31      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| BELLRING BRANDS INC                                | BellRing Brands Inc                                                      | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3102630.00   | 0.43%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                           | Builders FirstSource Inc                                                 | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $941220.39    | 0.13%             | 2032-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                           | Burford Capital Global Finance LLC                                       | CUSIP: 12116LAG4<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2037700.00   | 0.29%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                                | Shift4 Payments Inc                                                      | CUSIP: 82452J307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $2846100.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                           | Stonex Escrow Issuer LLC                                                 | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $515113.54    | 0.07%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                      | TransDigm Inc                                                            | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986088.01    | 0.14%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                              | Trivium Packaging Finance BV                                             | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1067788.00   | 0.15%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VT TOPCO INC                                       | VT Topco Inc                                                             | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509132.00    | 0.07%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DAVE & BUSTER'S INC                                | Dave & Buster's Inc                                                      | CUSIP: 23833EAX2<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | LON              | CORP              | US        |   1817815 | PA      | $1704201.82   | 0.24%             | 2029-06-29      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                             | Acrisure LLC / Acrisure Finance Inc                                      | CUSIP: 00489LAM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2101148.00   | 0.29%             | 2029-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                            | Avis Budget Car Rental LLC / Avis Budget Finance Inc                     | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1046714.00   | 0.15%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                            | Beach Acquisition Bidco LLC                                              | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5946880.50   | 0.83%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BLUELINX HOLDING                                   | BlueLinx Holdings Inc                                                    | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2962483.20   | 0.42%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                           | Burford Capital Global Finance LLC                                       | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7978447.50   | 1.12%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                           | California Resources Corp                                                | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   1990000 | PA      | $1995587.52   | 0.28%             | 2026-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                           | California Resources Corp                                                | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6261810.00   | 0.88%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                      | CoreCivic Inc                                                            | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4228836.48   | 0.59%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                           | Performance Food Group Inc                                               | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972455.69    | 0.14%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC                              | Scripps Escrow II Inc                                                    | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1409410.00   | 0.20%             | 2031-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| QXO INC                                            | QXO Inc                                                                  | CUSIP: 82846H504<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     30000 | NS      | $1649700.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                           | Summit Midstream Holdings LLC                                            | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2614890.04   | 0.37%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                          | Sunoco LP                                                                | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1527894.00   | 0.21%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                   | TKC Holdings Inc                                                         | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4111288.00   | 0.58%             | 2029-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                               | Talos Production Inc                                                     | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2084544.00   | 0.29%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                      | TransDigm Inc                                                            | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980833.54    | 0.14%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                      | TransDigm Inc                                                            | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1030666.79   | 0.14%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                      | TransDigm Inc                                                            | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517326.00    | 0.07%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TREEHOUSE FOODS INC                                | TreeHouse Foods Inc                                                      | CUSIP: 89469AAD6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3865260.00   | 0.54%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC                                       | Acrisure LLC                                                             | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   3970050 | PA      | $3968203.93   | 0.56%             | 2030-11-06      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| CPI CG INC                                         | CPI CG Inc                                                               | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |   1858000 | PA      | $1949682.99   | 0.27%             | 2029-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                           | Consolidated Communications Inc                                          | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2032500.00   | 0.28%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                             | EquipmentShare.com Inc                                                   | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1603731.00   | 0.22%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio                      | Fidelity Government Portfolio                                            | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |  35836213 | NS      | $35836212.57  | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                              | Freedom Mortgage Holdings LLC                                            | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6293880.00   | 0.88%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                  | GEO Group Inc/The                                                        | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8807544.00   | 1.23%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                           | Jones Deslauriers Insurance Management Inc                               | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |   3000000 | PA      | $3154683.39   | 0.44%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-21

**Name of Applicant:** Buffalo Funds

**Signature:** /s/ Laura Symon Browne

**Name of Signer:** Laura Symon Browne

**Title:** President and Treasurer