# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001707560-26-000058
**Filing Date:** 2026-4
**Character Count:** 132051
**Document Hash:** 22889e7b37469fe962faa24d53433d76
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001707560-26-000058.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0001707560-26-000058

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Adviser Series
- **CENTRAL INDEX KEY:** 0001707560

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23259
- **FILM NUMBER:** 26886130

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 1-800-341-7400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Adviser Series
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Hermes Adviser Series
- **DATE OF NAME CHANGE:** 20200615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Adviser Series
- **DATE OF NAME CHANGE:** 20180820

## Series and Classes Contracts Data

### Federated Hermes SDG Engagement High Yield Credit Fund (Series ID: S000066503)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000214506 | Institutional Shares | FHHIX           |
| C000214507 | Class A Shares       |  |
| C000214508 | Class C Shares       |  |
| C000214509 | Class R6 Shares      | FHHRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Adviser Series

- **b. Investment Company Act file number:** 811-23259

- **c. CIK number of Registrant:** 0001707560

- **d. LEI of Registrant:** 2549001OZ5PPTI84LJ34

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes SDG Engagement High Yield Credit Fund

- **b. EDGAR series identifier (if any):** S000066503

- **c. LEI of Series:** 254900G1LDZSXQNJUW40

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2026-02-28

**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:** $188387299.13

**Total Liabilities:** $925332.79

**Net Assets:** $187461966.34

**Cash Not Reported:** $2966180.47

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -57.801070200000 | **1-Year:** -1139.704109500000 | **5-Year:** -5515.042390600000 | **10-Year:** -2676.363159700000 | **30-Year:** -659.495156500000

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

- **3-Month:** -286.290303100000 | **1-Year:** -9296.610586300000 | **5-Year:** -12562.685246300000 | **10-Year:** -4889.212078600000 | **30-Year:** -1449.747345000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000214506 | 0.61%                | 0.49%                | 0.31%                |
| Class ID C000214509 | 0.61%                | 0.50%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $63582.33                | $794909.55                                 |
| Month 2  | $82545.87                | $681982.50                                 |
| Month 3  | $361478.61               | $-479860.31                                |

**Designated Index Information**

- **Index Name:** BofaML Global HY Constrained

- **Index Identifier:** HW0C

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CLEVELAND-CLIFFS INC                                                        | Cleveland-Cliffs Inc                                                        | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    600000 | PA      | $616240.27    | 0.33%             | 2033-05-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| OVH Groupe SA                                                               | OVH Groupe SA                                                               | CUSIP: 000000000<br>LEI: 9695001J8OSOVX4TP939 | Long             | DBT              | CORP              | FR        |   1100000 | PA      | $1308190.86   | 0.70%             | 2031-02-05      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                                    | Standard Industries Inc/NY                                                  | CUSIP: 853496AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    435000 | PA      | $401905.98    | 0.21%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Bank of Ireland Group PLC                                                   | Bank of Ireland Group PLC                                                   | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |    400000 | PA      | $471339.96    | 0.25%             | 2031-08-11      | Fixed         | 1.38%                 | Yes           |                  2 | On Loan: No      |
| TOPBUILD CORP                                                               | TopBuild Corp                                                               | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1110122.02   | 0.59%             | 2034-01-31      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| Barclays PLC                                                                | Barclays PLC                                                                | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $584860.56    | 0.31%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                                    | Clarios Global LP / Clarios US Finance Co                                   | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $519300.00    | 0.28%             | 2032-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Summit Digitel Infrastructure Limited                                       | Summit Digitel Infrastructure Pvt Ltd                                       | CUSIP: 86608CAA6<br>LEI: 3358004TNI1SSIQ9BQ37 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $184559.90    | 0.10%             | 2031-08-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Sappi Papier Holding GmbH                                                   | Sappi Papier Holding GmbH                                                   | CUSIP: 000000000<br>LEI: 549300XBCUMUR5CI0181 | Long             | DBT              | CORP              | AT        |    300000 | PA      | $339419.41    | 0.18%             | 2032-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Nokia Corp                                                                  | Nokia Oyj                                                                   | CUSIP: 000000000<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    200000 | PA      | $250095.69    | 0.13%             | 2031-08-21      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                                          | Crown Americas LLC                                                          | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    450000 | PA      | $462608.10    | 0.25%             | 2033-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media O2 Vendor Financing Notes VII DAC                              | VMED 7.5 07/15/33 144A                                                      | CUSIP: 000000000<br>LEI: 984500871CCF07442C21 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $226880.52    | 0.12%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Falabella SA                                                                | Falabella SA                                                                | CUSIP: 000000000<br>LEI: 5493004CKJQ7H391LM41 | Long             | DBT              | CORP              | CL        |    900000 | PA      | $814846.24    | 0.43%             | 2032-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Standard Life PLC                                                           | PHOENIX GRP HLD PLC                                                         | CUSIP: 000000000<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |    325000 | PA      | $432433.04    | 0.23%             | N/A             | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                       | Tenet Healthcare Corp                                                       | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    888000 | PA      | $872356.28    | 0.47%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                          | T-Mobile USA Inc                                                            | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    172000 | PA      | $154506.94    | 0.08%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte. Ltd.                                   | Seagate Data Storage Technology Pte Ltd                                     | CUSIP: 81180LAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    160000 | PA      | $157056.94    | 0.08%             | 2029-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                                   | Ball Corp                                                                   | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    825000 | PA      | $767820.24    | 0.41%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Paprec Holding S.A                                                          | Paprec Holding SA                                                           | CUSIP: 000000000<br>LEI: 969500ASAFSVN9KVC873 | Long             | DBT              | CORP              | FR        |    205000 | PA      | $246254.40    | 0.13%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                        | General Motors Financial Co Inc                                             | CUSIP: 37045XDE3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    500000 | PA      | $455380.86    | 0.24%             | 2031-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                                           | Iliad Holding SASU                                                          | CUSIP: 449691AG9<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $411124.74    | 0.22%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Banco BTG Pactual S.A. Cayman Islands Branch                                | Banco BTG Pactual SA/Cayman Islands                                         | CUSIP: 05971BAL3<br>LEI: 2549002JHJ73KGETOK78 | Long             | DBT              | CORP              | BR        |    800000 | PA      | $814000.00    | 0.43%             | 2030-01-22      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                                      | XPLR Infrastructure Operating Partners LP                                   | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207489.20    | 0.11%             | 2034-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                           | Iron Mountain Inc                                                           | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     81000 | PA      | $80654.88     | 0.04%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Crown European Holdings S.A.                                                | Crown European Holdings SACA                                                | CUSIP: 000000000<br>LEI: 85OKW2SW05RZFQS1W718 | Long             | DBT              | CORP              | FR        |    156000 | PA      | $191839.95    | 0.10%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Alcoa Nederland Holding B.V.                                                | Alcoa Nederland Holding BV                                                  | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |   1325000 | PA      | $1303963.11   | 0.70%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SV RNO PROPERTY OWNER 1                                                     | SV RNO Property Owner 1 LLC                                                 | CUSIP: 78488XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    960000 | PA      | $964977.37    | 0.51%             | 2031-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $204640.20    | 0.11%             | 2033-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                                      | XPLR Infrastructure Operating Partners LP                                   | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1059024.00   | 0.56%             | 2033-03-15      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| United Group B.V.                                                           | ADRBID 6.25 01/31/32 REGS                                                   | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $121139.50    | 0.06%             | 2032-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| UniCredit S.p.A.                                                            | UniCredit SpA                                                               | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    600000 | PA      | $707187.67    | 0.38%             | N/A             | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                                                      | Anglo American Capital PLC                                                  | CUSIP: 034863BA7<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $187818.92    | 0.10%             | 2031-03-17      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING FINANCE USA LLC                                      | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $798640.19    | 0.43%             | 2029-09-01      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                                  | Cooperatieve Rabobank UA                                                    | CUSIP: 000000000<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $236438.18    | 0.13%             | N/A             | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                          | T-Mobile USA Inc                                                            | CUSIP: 87264ADM4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99491.93     | 0.05%             | 2035-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Orbia Advance Corp S A B De Cv                                              | Orbia Advance Corp SAB de CV                                                | CUSIP: 000000000<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    400000 | PA      | $404360.00    | 0.22%             | 2030-05-13      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| Ziggo Bond Company B.V.                                                     | Ziggo Bond Co BV                                                            | CUSIP: 000000000<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $104651.59    | 0.06%             | 2030-02-28      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Alpha Bank S.A.                                                             | Alpha Bank SA                                                               | CUSIP: 000000000<br>LEI: 213800DBQIB6VBNU5C64 | Long             | DBT              | CORP              | GR        |    500000 | PA      | $590401.33    | 0.31%             | 2028-03-23      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| Orbia Advance Corp S A B De Cv                                              | Orbia Advance Corp SAB de CV                                                | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    300000 | PA      | $303270.00    | 0.16%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Oneok Inc.                                                                  | ONEOK Inc                                                                   | CUSIP: 682680DA8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    275000 | PA      | $260404.95    | 0.14%             | 2047-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Unipol Assicurazioni S.p.A.                                                 | UnipolSai Assicurazioni SpA                                                 | CUSIP: 000000000<br>LEI: 815600E31C4E7006AB54 | Long             | DBT              | CORP              | IT        |    700000 | PA      | $843341.81    | 0.45%             | 2028-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Zurich Finance (Ireland) DAC                                                | Zurich Finance Ireland Designated Activity Co                               | CUSIP: 000000000<br>LEI: 549300E0FVHYR37EGX65 | Long             | DBT              | CORP              | IE        |    600000 | PA      | $549357.30    | 0.29%             | 2051-04-19      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| ContourGlobal Power Holdings S.A.                                           | ContourGlobal Power Holdings SA                                             | CUSIP: 000000000<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    950000 | PA      | $1107233.63   | 0.59%             | 2031-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Arcelik A.S.                                                                | Arcelik AS                                                                  | CUSIP: 000000000<br>LEI: 789000748KTQCUMJ0R25 | Long             | DBT              | CORP              | TR        |    800000 | PA      | $945815.20    | 0.50%             | 2026-05-27      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| SUNRISE FINCO I BV                                                          | UPC Broadband Finco BV                                                      | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |   1250000 | PA      | $1192604.88   | 0.64%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                                                | B 0 03/31/26                                                                | CUSIP: 912797TB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8700000 | PA      | $8674647.33   | 4.63%             | 2026-03-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS GROUP AG 4.875                                                          | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $199283.30    | 0.11%             | N/A             | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Boots Group Finco LP/ The Boots Group Luxco S.a.r.l.                        | Boots Group Finco LP                                                        | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    700000 | PA      | $983676.36    | 0.52%             | 2032-08-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Berry Global Inc                                                            | Berry Global Inc                                                            | CUSIP: 08576PAP6<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52847.48     | 0.03%             | 2034-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                                  | Cooperatieve Rabobank UA                                                    | CUSIP: 000000000<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $242228.03    | 0.13%             | N/A             | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Deuce Finco PLC                                                             | Deuce Finco PLC                                                             | CUSIP: 000000000<br>LEI: 9845007DA2BC863E8437 | Long             | DBT              | CORP              | GB        |    575000 | PA      | $789302.74    | 0.42%             | 2031-11-20      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ContourGlobal Power Holdings S.A.                                           | ContourGlobal Power Holdings SA                                             | CUSIP: 000000000<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $242377.86    | 0.13%             | 2030-02-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Anglo American Capital PLC                                                  | Anglo American Capital PLC                                                  | CUSIP: 000000000<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $209750.38    | 0.11%             | 2033-05-02      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Orbia Advance Corp S A B De Cv                                              | Orbia Advance Corp SAB de CV                                                | CUSIP: 000000000<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    500000 | PA      | $415315.01    | 0.22%             | 2031-05-11      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                        | FMG Resources August 2006 Pty Ltd                                           | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    600000 | PA      | $582116.63    | 0.31%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Telecom Italia Capital S.A.                                                 | Telecom Italia Capital SA                                                   | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $208415.40    | 0.11%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                                                             | Cemex SAB de CV                                                             | CUSIP: 000000000<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $199801.20    | 0.11%             | 2026-06-08      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP / Clarios US Finance Company Inc                          | Clarios Global LP / Clarios US Finance Co                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $723425.38    | 0.39%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                                      | WESCO Distribution Inc                                                      | CUSIP: 95081QAU8<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    210000 | PA      | $212154.60    | 0.11%             | 2034-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Fibercop S.p.A.                                                             | Optics Bidco SpA                                                            | CUSIP: 000000000<br>LEI: 254900QZ5RQ7MPFWE741 | Long             | DBT              | CORP              | IT        |    125000 | PA      | $146768.55    | 0.08%             | 2027-10-12      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd                                     | SEAGATE DATA STOR                                                           | CUSIP: 81180LAN5<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |   1200000 | PA      | $1151172.00   | 0.61%             | 2031-01-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING FINANCE USA LLC                                      | AMPBEV 5 01/30/31 REGs                                                      | CUSIP: 000000000<br>LEI: 635400YUJMWFYRBL5293 | Long             | DBT              | CORP              | US        |    200000 | PA      | $242883.28    | 0.13%             | 2031-01-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Centene Corp.                                                               | Centene Corp                                                                | CUSIP: 15135BAZ4<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    650000 | PA      | $563630.22    | 0.30%             | 2031-08-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| CF Industries, Inc.                                                         | CF Industries Inc                                                           | CUSIP: 12527GAF0<br>LEI: 5FVKT86LAD2F40NPC183 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45865.99     | 0.02%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                                      | Energizer Holdings Inc                                                      | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    400000 | PA      | $391013.92    | 0.21%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Nokia Corp                                                                  | Nokia Oyj                                                                   | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    250000 | PA      | $270905.25    | 0.14%             | 2039-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA CAYMAN ISLANDS BRANCH                              | Itau Unibanco Holding SA/Cayman Island                                      | CUSIP: 46556W2E9<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $624975.00    | 0.33%             | 2030-02-27      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Turk Telekomunikasyon A.S.                                                  | Turk Telekomunikasyon AS                                                    | CUSIP: 90011QAD2<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $209312.65    | 0.11%             | 2029-05-20      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Iliad SA                                                                    | Iliad SA                                                                    | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |    900000 | PA      | $1044028.91   | 0.56%             | 2028-02-11      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Opal Bidco SAS                                                              | Opal Bidco SAS                                                              | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    319000 | PA      | $386463.03    | 0.21%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                                              | SPCM SA                                                                     | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |   1500000 | PA      | $1423056.75   | 0.76%             | 2030-03-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| UniCredit S.p.A.                                                            | UCGIM V5.8 PERP EMTN                                                        | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $234547.62    | 0.13%             | N/A             | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                            | T-Mobile USA Inc                                                            | CUSIP: 87264ABN4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    300000 | PA      | $204810.39    | 0.11%             | 2051-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                               | CWENA 5.75 01/15/34 144A                                                    | CUSIP: 18539UAG0<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304094.10    | 0.16%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Xerox Holdings Corporation                                                  | Xerox Holdings Corp                                                         | CUSIP: 98421MAC0<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    475000 | PA      | $137891.08    | 0.07%             | 2029-11-30      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| FIDEICOMISO IRREVOCABLE 1721 BANCO ACTINVER SA                              | FIBRA Prologis                                                              | CUSIP: 31575KAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    800000 | PA      | $810712.00    | 0.43%             | 2038-01-14      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Schaeffler AG                                                               | SHAEFF 4.5 05/12/32 EMTN                                                    | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $360471.52    | 0.19%             | 2032-05-12      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CENTENE CORP                                                                | Centene Corp                                                                | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    519000 | PA      | $450778.85    | 0.24%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                                                   | Forvia SE                                                                   | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $206133.13    | 0.11%             | 2033-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Boots Group Finco LP/ The Boots Group Luxco S.a.r.l.                        | Boots Group Finco LP                                                        | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    211000 | PA      | $296508.16    | 0.16%             | 2032-08-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NEMAK SAB DE CV                                                             | Nemak SAB de CV                                                             | CUSIP: 000000000<br>LEI: 5493000MY3DAIB0BP706 | Long             | DBT              | CORP              | MX        |    900000 | PA      | $779292.45    | 0.42%             | 2031-06-28      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                                        | Cemex SAB de CV                                                             | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    400000 | PA      | $421700.00    | 0.22%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                                    | Standard Building Solutions Inc                                             | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    400000 | PA      | $407742.80    | 0.22%             | 2033-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                                        | Cemex SAB de CV                                                             | CUSIP: 000000000<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    500000 | PA      | $527125.00    | 0.28%             | N/A             | Fixed         | 7.20%                 | Yes           |                  2 | On Loan: No      |
| Opal Bidco SAS                                                              | Opal Bidco SAS                                                              | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $848038.00    | 0.45%             | 2032-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Finance Company S.A.U.                                              | CELLNEX FINANCE CO SA                                                       | CUSIP: 000000000<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $428954.95    | 0.23%             | 2033-02-15      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                                                    | TerraForm Power Operating LLC                                               | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1470069.15   | 0.78%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Lorca Telecom Bondco S.A.U.                                                 | Lorca Telecom Bondco SA                                                     | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |    134043 | PA      | $158533.26    | 0.08%             | 2027-09-18      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $204997.60    | 0.11%             | N/A             | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                                        | Range Resources Corp                                                        | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1337293.67   | 0.71%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Eurofins Scientific SE                                                      | Eurofins Scientific SE                                                      | CUSIP: 000000000<br>LEI: 529900JEHFM47DYY3S57 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $209442.79    | 0.11%             | 2031-05-19      | Fixed         | 0.88%                 | Yes           |                  2 | On Loan: No      |
| Bank of Ireland Group PLC                                                   | Bank of Ireland Group PLC                                                   | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |    500000 | PA      | $703531.18    | 0.38%             | 2032-12-06      | Fixed         | 7.59%                 | Yes           |                  2 | On Loan: No      |
| Akbank T.A.S.                                                               | Akbank TAS                                                                  | CUSIP: 000000000<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $411543.48    | 0.22%             | 2035-09-04      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Suzano Austria GmbH                                                         | Suzano Austria GmbH                                                         | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |   1150000 | PA      | $1042730.19   | 0.56%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance PLC / Ardagh Metal Packaging Finance USA LLC | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    193000 | PA      | $234382.37    | 0.13%             | 2031-01-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Azelis Finance NV                                                           | AZELIS 4.125 03/10/31 144A                                                  | CUSIP: 000000000<br>LEI: 699400J0P7A5VXKGK641 | Long             | DBT              | CORP              | BE        |   1000000 | PA      | $1190526.89   | 0.64%             | 2031-03-10      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Orsted A/S                                                                  | Orsted AS                                                                   | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | DBT              | CORP              | DK        |    800000 | PA      | $857108.20    | 0.46%             | 3021-02-18      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| CAN-PACK SA                                                                 | CANPACK SA / Eastern PA Land Investment Holding LLC                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PL        |    346000 | PA      | $405319.46    | 0.22%             | 2027-11-01      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| Inpost S.A                                                                  | InPost SA                                                                   | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | DBT              | CORP              | LU        |    800000 | PA      | $929910.77    | 0.50%             | 2031-04-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Millicom International Cellular SA                                          | Millicom International Cellular SA                                          | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    350000 | PA      | $362376.70    | 0.19%             | 2032-04-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                  | Occidental Petroleum Corp                                                   | CUSIP: 674599CR4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    550000 | PA      | $548498.50    | 0.29%             | 2026-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Iqvia Inc                                                                   | IQVIA Inc                                                                   | CUSIP: 000000000<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1200268.80   | 0.64%             | 2029-03-15      | Fixed         | 2.25%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group PLC                                                           | NatWest Group PLC                                                           | CUSIP: 639057AT5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $212413.40    | 0.11%             | N/A             | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                                      | BP Capital Markets PLC                                                      | CUSIP: 000000000<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $535184.04    | 0.29%             | N/A             | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Enel S.p.A.                                                                 | ENELIM V4.5 PERP ..                                                         | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $235433.82    | 0.13%             | N/A             | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                                          | ABN AMRO Bank NV                                                            | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1199324.12   | 0.64%             | N/A             | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD                                 | Australia & New Zealand Banking Group Ltd                                   | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $122941.97    | 0.07%             | 2033-02-03      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| NatWest Group PLC                                                           | Natwest Group PLC                                                           | CUSIP: 639057AD0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $931562.60    | 0.50%             | N/A             | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects (Mauritius) Ltd.                                      | Greenko Wind Projects Mauritius Ltd                                         | CUSIP: 39531JAB0<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |    600000 | PA      | $612775.94    | 0.33%             | 2028-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                                    | First Citizens BancShares Inc/NC                                            | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511231.50    | 0.27%             | N/A             | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| RBC EUROPE LIMITED                                                          | CURRENCY CONTRACT - EUR                                                     | CUSIP: 000000000<br>LEI: TXDSU46SXBWIGJ8G8E98 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3172.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                    | Vistra Operations Co LLC                                                    | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1286758.59   | 0.69%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Post Holdings Inc.                                                          | Post Holdings Inc                                                           | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    433000 | PA      | $414549.39    | 0.22%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $871765.90    | 0.47%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings Inc.                                                          | Post Holdings Inc                                                           | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    338000 | PA      | $331112.91    | 0.18%             | 2030-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CF Industries, Inc.                                                         | CF Industries Inc                                                           | CUSIP: 12527GAD5<br>LEI: 5FVKT86LAD2F40NPC183 | Long             | DBT              | CORP              | US        |    300000 | PA      | $275739.09    | 0.15%             | 2043-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Owens Brockway Glass Container Inc.                                         | Owens-Brockway Glass Container Inc                                          | CUSIP: 69073TAV5<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1113156.00   | 0.59%             | 2032-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                                          | Crown Americas LLC / Crown Americas Capital Corp V                          | CUSIP: 22819KAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    467000 | PA      | $467350.25    | 0.25%             | 2026-09-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                                      | Intesa Sanpaolo SpA                                                         | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    730000 | PA      | $847322.20    | 0.45%             | N/A             | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| INDUSTRIAL F&B INV                                                          | Industrial F&B Investments III Inc                                          | CUSIP: 456142AA6<br>LEI: 254900VSX7CEW7CNTO51 | Long             | DBT              | CORP              | US        |    800000 | PA      | $821699.38    | 0.44%             | 2033-02-11      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Ball Corporation                                                            | Ball Corp                                                                   | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    600000 | PA      | $617920.20    | 0.33%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                         | Graphic Packaging International LLC                                         | CUSIP: 000000000<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $114950.08    | 0.06%             | 2029-02-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                                      | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $191058.22    | 0.10%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Odido Group Holding B.V.                                                    | Odido Group Holding BV                                                      | CUSIP: 000000000<br>LEI: 724500FOAL1MNGOJKP07 | Long             | DBT              | CORP              | NL        |    900000 | PA      | $1060935.22   | 0.57%             | 2030-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| YUM! BRANDS INC                                                             | Yum! Brands Inc                                                             | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1322373.00   | 0.71%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                            | DB V7.125 PERP .                                                            | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    600000 | PA      | $753270.08    | 0.40%             | N/A             | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Nokia Corp                                                                  | Nokia Oyj                                                                   | CUSIP: 000000000<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    100000 | PA      | $125047.84    | 0.07%             | 2031-08-21      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ING Groep N.V.                                                              | ING Groep NV                                                                | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $429000.00    | 0.23%             | N/A             | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Energizer Gamma Acquisition B.V.                                            | Energizer Gamma Acquisition BV                                              | CUSIP: 000000000<br>LEI: 5493002SUYZDHEQ3JN34 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $461034.14    | 0.25%             | 2029-06-30      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Summit Digitel Infrastructure Limited                                       | Summit Digitel Infrastructure Ltd                                           | CUSIP: 000000000<br>LEI: 3358004TNI1SSIQ9BQ37 | Long             | DBT              | CORP              | IN        |    400000 | PA      | $369119.80    | 0.20%             | 2031-08-12      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| HCA Inc.                                                                    | HCA Inc                                                                     | CUSIP: 404119CC1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    600000 | PA      | $542136.53    | 0.29%             | 2031-07-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| EDP SA                                                                      | EDP - Energias de Portugal SA                                               | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |    800000 | PA      | $895165.68    | 0.48%             | 2082-03-14      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                    | Celanese US Holdings LLC                                                    | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102535.40    | 0.05%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                              | Whirlpool Corp                                                              | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998680.60    | 0.53%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Alpha Bank S.A.                                                             | Alpha Bank SA                                                               | CUSIP: 000000000<br>LEI: 213800DBQIB6VBNU5C64 | Long             | DBT              | CORP              | GR        |    400000 | PA      | $478325.18    | 0.26%             | 2036-07-23      | Fixed         | 4.31%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing Inc                                           | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    650000 | PA      | $661053.76    | 0.35%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Taylor Morrison Communities Inc                                             | Taylor Morrison Communities Inc                                             | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |   1111000 | PA      | $1121587.14   | 0.60%             | 2030-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                         | Graphic Packaging International LLC                                         | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304270.20    | 0.16%             | 2032-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DEL NORTE SA CAYMAN ISLANDS BRANCH                          | BANCO MDN 6.625 31/12/49                                                    | CUSIP: 000000000<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $596171.34    | 0.32%             | N/A             | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| V.F. Corp                                                                   | VF Corp                                                                     | CUSIP: 918204AY4<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |    800000 | PA      | $772534.93    | 0.41%             | 2032-02-25      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Sappi Papier Holding GmbH                                                   | Sappi Papier Holding GmbH                                                   | CUSIP: 000000000<br>LEI: 549300XBCUMUR5CI0181 | Long             | DBT              | CORP              | AT        |    400000 | PA      | $467629.59    | 0.25%             | 2028-03-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Oneok Inc.                                                                  | ONEOK Inc                                                                   | CUSIP: 682680CY7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    250000 | PA      | $223674.07    | 0.12%             | 2045-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Elior Group                                                                 | Elior Group SA                                                              | CUSIP: 000000000<br>LEI: 969500LYSYS0E800SQ95 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $1223038.31   | 0.65%             | 2030-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                                      | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1210002.71   | 0.65%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                     | VZ Secured Financing BV                                                     | CUSIP: 91845AAB1<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $393431.08    | 0.21%             | 2033-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| SV RNO Property Owner 1 LLC                                                 | TRACTC 5.875 03/01/31 REGS                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $196011.03    | 0.10%             | 2031-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| V.F. Corp                                                                   | VF Corp                                                                     | CUSIP: 918204BC1<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |    250000 | PA      | $229718.28    | 0.12%             | 2030-04-23      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco S.a r.l.                                                  | Froneri Lux FinCo SARL                                                      | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    600000 | PA      | $697536.19    | 0.37%             | 2032-08-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $371670.20    | 0.20%             | N/A             | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                        | Cleveland-Cliffs Inc                                                        | CUSIP: 185899AK7<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    520000 | PA      | $509295.44    | 0.27%             | 2029-03-01      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                         | Graphic Packaging International LLC                                         | CUSIP: 000000000<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $114950.08    | 0.06%             | 2029-02-01      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                                      | ADIENT GLOBAL HOLDINGS LTD                                                  | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   1100000 | PA      | $1155293.70   | 0.62%             | 2033-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Akbank T.A.S.                                                               | AKBNK V7.95 PERP 144A                                                       | CUSIP: 00971YAN0<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    300000 | PA      | $300562.20    | 0.16%             | N/A             | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Progroup AG                                                                 | ProGroup AG                                                                 | CUSIP: 000000000<br>LEI: 529900YI5W5TQ8F2FP82 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $1215267.73   | 0.65%             | 2031-04-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Commerzbank AG                                                              | Commerzbank AG                                                              | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $212182.50    | 0.11%             | N/A             | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corporation                                                         | Novelis Corp                                                                | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    300000 | PA      | $290926.41    | 0.16%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Novelis Sheet Ingot GmbH                                                    | Novelis Sheet Ingot GmbH                                                    | CUSIP: 000000000<br>LEI: 9845005E95899E77AY49 | Long             | DBT              | CORP              | DE        |    419000 | PA      | $488702.65    | 0.26%             | 2029-04-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Cellnex Telecom S.A.U                                                       | Cellnex Telecom SA                                                          | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $216998.23    | 0.12%             | 2031-11-20      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    400000 | PA      | $364286.75    | 0.19%             | N/A             | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                    | Celanese US Holdings LLC                                                    | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    600000 | PA      | $616785.00    | 0.33%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                                 | Optics Bidco SpA                                                            | CUSIP: 683879AD2<br>LEI: 254900QZ5RQ7MPFWE741 | Long             | DBT              | CORP              | US        |   1348000 | PA      | $1324738.51   | 0.71%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                                        | Cemex SAB de CV                                                             | CUSIP: 000000000<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    300000 | PA      | $287876.19    | 0.15%             | 2031-07-11      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| United Group B.V.                                                           | United Group BV                                                             | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    800000 | PA      | $969115.97    | 0.52%             | 2032-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                               | Clearway Energy Operating LLC                                               | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    493000 | PA      | $467348.57    | 0.25%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA O2 VENDOR FINANCING NOTES V DAC                                | VMED 8.5 03/15/33 144A                                                      | CUSIP: 92769UAA9<br>LEI: 635400ASSEVCXAPVGC36 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $183697.06    | 0.10%             | 2033-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                     | HCA Inc                                                                     | CUSIP: 404119CB3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $103652.39    | 0.06%             | 2051-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                              | BNP Paribas SA                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $420353.60    | 0.22%             | N/A             | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| EQT Corporation                                                             | EQT Corp                                                                    | CUSIP: 26884LAN9<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    589000 | PA      | $564199.48    | 0.30%             | 2031-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Inc.                                                          | Iron Mountain Inc                                                           | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    700000 | PA      | $675685.50    | 0.36%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Deuce Finco PLC                                                             | Deuce Finco PLC                                                             | CUSIP: 000000000<br>LEI: 9845007DA2BC863E8437 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $475817.96    | 0.25%             | 2032-11-20      | Floating      | 5.55%                 | Yes           |                  2 | On Loan: No      |
| Huntsman International LLC                                                  | Huntsman International LLC                                                  | CUSIP: 44701QBG6<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    400000 | PA      | $382847.98    | 0.20%             | 2034-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Societe Generale S.A.                                                       | Societe Generale SA                                                         | CUSIP: 83370RAE8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    850000 | PA      | $905711.55    | 0.48%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Huntsman International LLC                                                  | Huntsman International LLC                                                  | CUSIP: 44701QBF8<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    420000 | PA      | $362700.37    | 0.19%             | 2031-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects (Mauritius) Ltd.                                      | GRNKEN 7.25 09/27/28 REGS                                                   | CUSIP: 000000000<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $204258.65    | 0.11%             | 2028-09-27      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media O2 Vendor Financing Notes V DAC                                | Virgin Media O2 Vendor Financing Notes V DAC                                | CUSIP: 000000000<br>LEI: 635400ASSEVCXAPVGC36 | Long             | DBT              | CORP              | IE        |    100000 | PA      | $128560.34    | 0.07%             | 2032-03-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                              | Olympus Water US Holding Corp                                               | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1251192.16   | 0.67%             | 2029-10-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| SEALED AIR CORP                                                             | Sealed Air Corp                                                             | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1072575.66   | 0.57%             | 2027-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                     | VZ Secured Financing BV                                                     | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    900000 | PA      | $800738.64    | 0.43%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                                    | 1011778 BC ULC / New Red Finance Inc                                        | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1150000 | PA      | $1171762.60   | 0.63%             | 2029-09-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corporation                                                         | Novelis Corp                                                                | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $457459.35    | 0.24%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                               | Clearway Energy Operating LLC                                               | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    825000 | PA      | $767769.17    | 0.41%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                                    | Olympus Water US Holding Corp                                               | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199267.56    | 0.11%             | 2033-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Enel S.p.A.                                                                 | Enel SpA                                                                    | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | DBT              | CORP              | IT        |    900000 | PA      | $978504.77    | 0.52%             | N/A             | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Edge Finco PLC                                                              | Edge Finco PLC                                                              | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |    477000 | PA      | $688660.93    | 0.37%             | 2031-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                                      | BP Capital Markets PLC                                                      | CUSIP: 000000000<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $134981.31    | 0.07%             | 2036-09-12      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| EDP SA                                                                      | EDP SA                                                                      | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |    300000 | PA      | $365801.92    | 0.20%             | 2054-09-16      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CAN-PACK SA                                                                 | Canpack SA / Canpack US LLC                                                 | CUSIP: 13806CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | PL        |    619000 | PA      | $592603.55    | 0.32%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Schaeffler AG                                                               | Schaeffler AG                                                               | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $487599.91    | 0.26%             | 2030-03-28      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                                      | Energizer Holdings Inc                                                      | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    500000 | PA      | $486114.70    | 0.26%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - EUR                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1017.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-84182.29    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| The Northern Trust Company                                                  | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: 6PTKHDJ8HDUF78PFWH30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3570.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-48916.95    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1162.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6806.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3436.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC EUROPE LIMITED                                                          | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: TXDSU46SXBWIGJ8G8E98 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7962.84      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC EUROPE LIMITED                                                          | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: TXDSU46SXBWIGJ8G8E98 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10620.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC EUROPE LIMITED                                                          | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: TXDSU46SXBWIGJ8G8E98 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5356.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC EUROPE LIMITED                                                          | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: TXDSU46SXBWIGJ8G8E98 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10860.42     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC EUROPE LIMITED                                                          | CURRENCY CONTRACT - USD                                                     | CUSIP: 000000000<br>LEI: TXDSU46SXBWIGJ8G8E98 | N/A              | DFE              | CORP              | US        |         1 | NC      | $6401.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX DEUTSCHLAND                                                           | Euro(FGBM) Bobl Futures                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -12 | NC      | $-13829.85    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                                      | EURO-BUND FUTURE MAR26                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -23 | NC      | $-47660.12    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                                      | 2-Year T-Note Futures, Jun-2026,ETH                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         6 | NC      | $1296.19      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                                      | 10-Year T-Note Futures, Jun-2026,ETH                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        28 | NC      | $13482.14     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank and Trust Company                                         | CURRENCY CONTRACT - EUR                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1623.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS ITRAXX.EU.XO.44.V1                                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $1754169.46   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CDX.NA.HY.44.V1                                                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $1254254.27   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS GOODYEAR TIRE & RUBBER                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $85269.20     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS FORD MOTOR COMPANY                                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $31215.53     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS FIBERCOP SPA                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-5187.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Virgin Media O2 Vendor Financing Notes V DAC                                | Virgin Media O2 Vendor Financing Notes V DAC                                | CUSIP: 000000000<br>LEI: 635400ASSEVCXAPVGC36 | Long             | DBT              | CORP              | IE        |    450000 | PA      | $578521.56    | 0.31%             | 2032-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $183168.90    | 0.10%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Edge Finco PLC                                                              | Edge Finco PLC                                                              | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $288746.72    | 0.15%             | 2031-08-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                                      | Millicom International Cellular SA                                          | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |   1000000 | PA      | $934542.70    | 0.50%             | 2031-04-27      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| iShares iBoxx USD High Yield Corporate Bond ETF                             | iShares iBoxx $ High Yield Corporate Bond ETF                               | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Long             | EC               | RF                | US        |     52391 | NS      | $4229001.52   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| IRCA S.p.A.                                                                 | Irca SpA/Gallarate                                                          | CUSIP: 000000000<br>LEI: 815600E94F34838F1B82 | Long             | DBT              | CORP              | IT        |   1000000 | PA      | $1189837.91   | 0.63%             | 2029-12-15      | Floating      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| KB Home                                                                     | KB Home                                                                     | CUSIP: 48666KAZ2<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    695000 | PA      | $664699.53    | 0.35%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dell Inc                                                                    | Dell Inc                                                                    | CUSIP: 24702RAM3<br>LEI: 3E70L4WYANTIWWIPHC81 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199120.13    | 0.11%             | 2040-09-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                | Barclays PLC                                                                | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $580736.63    | 0.31%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B S.a r.l.                                               | Summer BC Holdco B SARL                                                     | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |    700000 | PA      | $699969.09    | 0.37%             | 2030-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| BANCO BTG PACTUAL/CAYMAN                                                    | Banco BTG Pactual SA/Cayman Islands                                         | CUSIP: 05971AAM3<br>LEI: 2549002JHJ73KGETOK78 | Long             | DBT              | CORP              | BR        |    600000 | PA      | $600570.00    | 0.32%             | 2031-01-27      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Veolia Environnement S.A.                                                   | Veolia Environnement SA                                                     | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | DBT              | CORP              | FR        |    900000 | PA      | $1031950.50   | 0.55%             | N/A             | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| ASHLAND INC                                                                 | Ashland LLC                                                                 | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1060445.94   | 0.57%             | 2031-09-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Techem Verwaltungsgesellschaft 675 mbh                                      | Techem Verwaltungsgesellschaft 675 mbH                                      | CUSIP: 000000000<br>LEI: 529900N0M7FQHNAV1A41 | Long             | DBT              | CORP              | DE        |    499000 | PA      | $592607.70    | 0.32%             | 2032-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                        | Cleveland-Cliffs Inc                                                        | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24405.02     | 0.01%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Nexans SA                                                                   | Nexans SA                                                                   | CUSIP: 000000000<br>LEI: 96950015FU78G84UIV14 | Long             | DBT              | CORP              | FR        |    900000 | PA      | $1092895.55   | 0.58%             | 2029-05-29      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Infrastrutture Wireless Italiane SpA                                        | Infrastrutture Wireless Italiane SpA                                        | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | DBT              | CORP              | IT        |    400000 | PA      | $461855.77    | 0.25%             | 2028-10-21      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                                    | Medline Borrower LP/Medline Co-Issuer Inc                                   | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $309966.60    | 0.17%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD                                 | Australia & New Zealand Banking Group Ltd                                   | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $122941.97    | 0.07%             | 2033-02-03      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Greenko Power II Limited                                                    | Greenko Power II Ltd                                                        | CUSIP: 000000000<br>LEI: 254900YYA4B6O2O4JM12 | Long             | DBT              | CORP              | MU        |    304000 | PA      | $293369.65    | 0.16%             | 2028-12-13      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                         | American Axle & Manufacturing Inc                                           | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    129000 | PA      | $126128.73    | 0.07%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grifols S.A.                                                                | Grifols Escrow Issuer SA                                                    | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    900000 | PA      | $1056267.60   | 0.56%             | 2028-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                                                | United States Treasury Bill                                                 | CUSIP: 912797TS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15151400 | PA      | $15034053.92  | 8.02%             | 2026-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Paprec Holding S.A                                                          | Paprec Holding SA                                                           | CUSIP: 000000000<br>LEI: 969500ASAFSVN9KVC873 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $840868.68    | 0.45%             | 2032-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Infrastrutture Wireless Italiane SpA                                        | Infrastrutture Wireless Italiane SpA                                        | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | DBT              | CORP              | IT        |    400000 | PA      | $447062.03    | 0.24%             | 2031-04-19      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| AES Corp.                                                                   | AES Corp/The                                                                | CUSIP: 00130HCG8<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    457000 | PA      | $423975.43    | 0.23%             | 2031-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| KB Home                                                                     | KB Home                                                                     | CUSIP: 48666KAY5<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3997.61      | 0.00%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS FORVIA SE                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $82142.71     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS FIBERCOP SPA                                                            | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-29794.64    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS AMERICAN AXLE & MANUFACTURING INC                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $32212.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS TELECOM ITALIA SPA                                                      | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-3696.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS ARCELORMITTAL SA                                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $73179.51     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                                      | 5-Year T-Note Futures, Jun-2026,ETH                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        79 | NC      | $23918.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                                          | Long Gilt Future - ICEU, Jun26                                              | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        -8 | NC      | $-13503.43    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Ihs Holding Limited                                                         | IHS Holding Ltd                                                             | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $419400.83    | 0.22%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $204997.60    | 0.11%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B S.a r.l.                                               | Summer BC Holdco B SARL                                                     | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |    500000 | PA      | $499977.93    | 0.27%             | 2030-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Aker BP ASA                                                                 | Aker BP ASA                                                                 | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    600000 | PA      | $584981.12    | 0.31%             | 2030-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SEALED AIR CORP                                                             | Sealed Air Corp                                                             | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201737.60    | 0.11%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Techem Verwaltungsgesellschaft 675 mbh                                      | Techem Verwaltungsgesellschaft 675 mbH                                      | CUSIP: 000000000<br>LEI: 529900N0M7FQHNAV1A41 | Long             | DBT              | CORP              | DE        |    500000 | PA      | $593795.29    | 0.32%             | 2032-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Berry Global Inc                                                            | Berry Global Inc                                                            | CUSIP: 08576PAF8<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294425.09    | 0.16%             | 2027-01-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Fresenius Medical Care US Finance III Inc                                   | Fresenius Medical Care US Finance III Inc                                   | CUSIP: 000000000<br>LEI: 5299006ZHLMXOOUVTU44 | Long             | DBT              | CORP              | US        |    900000 | PA      | $813483.87    | 0.43%             | 2031-02-16      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                         | Mozart Debt Merger Sub Inc                                                  | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    899000 | PA      | $884756.60    | 0.47%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Froneri Lux Finco S.a r.l.                                                  | Froneri Lux FinCo SARL                                                      | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    405000 | PA      | $470836.93    | 0.25%             | 2032-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Oneok Inc.                                                                  | ONEOK Inc                                                                   | CUSIP: 682680CW1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     32000 | PA      | $30875.02     | 0.02%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                | United States Treasury Note/Bond                                            | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12800000 | PA      | $12855246.08  | 6.86%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                                | US Foods Inc                                                                | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1225208.40   | 0.65%             | 2033-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance PLC                                            | Virgin Media Secured Finance PLC                                            | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $124429.38    | 0.07%             | 2030-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ING Groep N.V.                                                              | ING Groep NV                                                                | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $452090.70    | 0.24%             | N/A             | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Akbank T.A.S.                                                               | Akbank TAS                                                                  | CUSIP: 000000000<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $211812.72    | 0.11%             | 2030-01-20      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Banco Mercantil Del Norte SA Cayman Islands Branch                          | Banco Mercantil del Norte SA/Grand Cayman                                   | CUSIP: 05971PAE8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $440766.00    | 0.24%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings Llc                                                    | Celanese US Holdings LLC                                                    | CUSIP: 15089QBB9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    200000 | PA      | $239133.36    | 0.13%             | 2031-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Berry Global Inc                                                            | Berry Global Inc                                                            | CUSIP: 000000000<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    300000 | PA      | $351572.19    | 0.19%             | 2027-01-15      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Klabin Austria GmbH                                                         | Klabin Austria GmbH                                                         | CUSIP: 49836AAC8<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    250000 | PA      | $228364.93    | 0.12%             | 2031-01-12      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                        | FMG Resources August 2006 Pty Ltd                                           | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    300000 | PA      | $314472.69    | 0.17%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Telefonica Europe B V                                                       | Telefonica Europe BV                                                        | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |   1100000 | PA      | $1242074.29   | 0.66%             | N/A             | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| KLABIN AUSTRIA GMBH                                                         | Klabin Austria GmbH                                                         | CUSIP: 000000000<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    800000 | PA      | $730767.78    | 0.39%             | 2031-01-12      | Fixed         | 3.20%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions Inc.                                            | BMCAUS 5.875 03/15/34 144A                                                  | CUSIP: 853192AA0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199650.50    | 0.11%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Aker BP ASA                                                                 | Aker BP ASA                                                                 | CUSIP: 00973RAN3<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    150000 | PA      | $149768.07    | 0.08%             | 2034-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                                                      | Axalta Coating Systems LLC                                                  | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1351445.76   | 0.72%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Ihs Holding Limited                                                         | IHS Holding Ltd                                                             | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $629177.06    | 0.34%             | 2030-05-29      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Standard Life PLC                                                           | PHOENIX GRP HLD PLC                                                         | CUSIP: 000000000<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $798337.94    | 0.43%             | N/A             | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Summer BidCo BV                                                             | Summer BidCo BV                                                             | CUSIP: 000000000<br>LEI: 724500EOJYP21L3XM206 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $239108.60    | 0.13%             | 2031-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ContourGlobal Power Holdings S.A.                                           | ContourGlobal Power Holdings SA                                             | CUSIP: 000000000<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $242377.86    | 0.13%             | 2030-02-28      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sappi Papier Holding GmbH                                                   | Sappi Papier Holding GmbH                                                   | CUSIP: 000000000<br>LEI: 549300XBCUMUR5CI0181 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $207250.00    | 0.11%             | 2032-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON AS                                                    | Turk Telekomunikasyon AS                                                    | CUSIP: 000000000<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |    800000 | PA      | $837250.58    | 0.45%             | 2029-05-20      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| TELENET FINANCE LUX NOTE                                                    | Telenet Finance Luxembourg Notes Sarl                                       | CUSIP: 000000000<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |   1200000 | PA      | $1193272.80   | 0.64%             | 2028-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                           | Post Holdings Inc                                                           | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132427.36    | 0.07%             | 2033-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                    | Ford Motor Credit Co LLC                                                    | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    900000 | PA      | $862980.14    | 0.46%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPDR Series Trust                                                           | SPDR Bloomberg High Yield Bond ETF                                          | CUSIP: 78468R622<br>LEI: 549300NCLW2248PN7J24 | Long             | EC               | RF                | US        |     29075 | NS      | $2827543.75   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Corp                                                                  | Nokia Oyj                                                                   | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    300000 | PA      | $300420.30    | 0.16%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Commerzbank AG                                                              | Commerzbank AG                                                              | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    600000 | PA      | $709846.27    | 0.38%             | N/A             | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                                                    | Graphic Packaging International LLC                                         | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    850000 | PA      | $804770.23    | 0.43%             | 2030-02-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| TRANSALTA CORP                                                              | TransAlta Corp                                                              | CUSIP: 89346DAL1<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |   1200000 | PA      | $1208202.00   | 0.64%             | 2034-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK Financing I PLC                                                  | Vmed O2 UK Financing I PLC                                                  | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    349000 | PA      | $416877.39    | 0.22%             | 2031-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Rexel, S.A.                                                                 | Rexel SA                                                                    | CUSIP: 000000000<br>LEI: 969500N6AVPA51648T62 | Long             | DBT              | CORP              | FR        |    650000 | PA      | $756016.24    | 0.40%             | 2028-12-15      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-23

**Name of Applicant:** Federated Hermes Adviser Series

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Adviser Series

**Title:** Chief Compliance Officer