# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-25-210075
**Filing Date:** 2025-8
**Character Count:** 64318
**Document Hash:** d87ca55b6da72c6d97b4a7a944221a22
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210075.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210075

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716

**ORGANIZATION NAME:**
- **EIN:** 316364605
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 251268246

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 6144708000

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIETY FUNDS
- **DATE OF NAME CHANGE:** 19940906

## Series and Classes Contracts Data

### Victory Floating Rate Fund (Series ID: S000053575)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168384 | Class A      | RSFLX           |
| C000168385 | Class C      | RSFCX           |
| C000168387 | Class Y      | RSFYX           |
| C000219868 | Member Class | RSFMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

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

  - **Street Address 1:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

  - **Telephone number:** 800-539-3863

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

- **a. Name of Series:** Victory Floating Rate Fund

- **b. EDGAR series identifier (if any):** S000053575

- **c. LEI of Series:** 5493006V5CZZVATH3R53

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $426296121.34

**Total Liabilities:** $24920439.89

**Net Assets:** $401375681.45

**Cash Not Reported:** $4509040.39

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -151.59142938 | **5-Year:** -151.59142938 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -65.56498402 | **1-Year:** -29526.41421740 | **5-Year:** -34188.01881321 | **10-Year:** -1201.02861091 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168384 | -0.81%               | 1.00%                | 0.79%                |
| Class ID C000168385 | -0.87%               | 1.06%                | 0.60%                |
| Class ID C000219868 | -0.80%               | 1.14%                | 0.68%                |
| Class ID C000168387 | -0.79%               | 1.14%                | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-517606.14              | $-6468932.02                               |
| Month 2  | $-3432284.07             | $4912715.15                                |
| Month 3  | $-55279.11               | $130290.68                                 |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                         | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FLEET MIDCO I LIMITED                        | FLEET US BIDCO INC                           | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   2728788 | PA      | $2732198.48   | 0.68%             | 2031-02-10      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH, INC.                       | DOTDASH MEREDITH INC                         | CUSIP: 25849KAH0<br>LEI: 549300R2AA7U9CJUQO13 | Long             | LON              | CORP              | US        |    720000 | PA      | $719402.40    | 0.18%             | 2032-06-07      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC.                             | HANESBRANDS INC                              | CUSIP: 410346AY6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | LON              | CORP              | US        |   1362120 | PA      | $1364394.55   | 0.34%             | 2032-03-08      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| RISING TIDE HOLDINGS INC                     | RISING TIDE HOLDINGS INC                     | CUSIP: 76770EAV9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3729718 | PA      | $2200533.89   | 0.55%             | 2028-06-13      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| AIP RD BUYER CORP.                           | AIP RD BUYER CORP                            | CUSIP: 00149HAC8<br>LEI: 5493000EBDLH9PYWBS30 | Long             | LON              | CORP              | US        |    500000 | PA      | $501130.00    | 0.12%             | 2030-12-23      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Covis Finco S.a r.l.                         | COVIS FINCO SARL                             | CUSIP: L3680LAH4<br>LEI: 549300NNIZ3SBBEUQM24 | Long             | LON              | CORP              | LU        |   9274548 | PA      | $3454769.29   | 0.86%             | 2027-02-18      | Floating      | 10.98%                | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP, INC.                   | PICARD MIDCO INC                             | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1513641.46   | 0.38%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CIFC FUNDING LTD                             | CIFC FUNDING 2020 IV LTD                     | CUSIP: 12562RAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1375000 | PA      | $1353962.50   | 0.34%             | 2040-01-15      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP LTD                    | AADVANTAGE LOYALTY IP LTD                    | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   3292031 | PA      | $3266813.77   | 0.81%             | 2028-04-20      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA BRISTOL LLC                     | VIRGIN MEDIA BRISTOL LLC                     | CUSIP: G9368PBH6<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   4250000 | PA      | $4191095.00   | 1.04%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS HOLDINGS, LLC        | FRONTIER COMMUNICATIONS HOLDINGS LLC         | CUSIP: 35906EAU4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3291750 | PA      | $3287635.31   | 0.82%             | 2031-07-01      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VACATIONS BORROWER LLC          | HILTON GRAND VACATIONS BORROWER LLC          | CUSIP: 43283LAK7<br>LEI: 254900HF0EZ734FDVY79 | Long             | LON              | CORP              | US        |   1447594 | PA      | $1445003.27   | 0.36%             | 2031-01-17      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| DELEK US HOLDINGS, INC.                      | DELEK US HOLDINGS INC                        | CUSIP: 24664GAF8<br>LEI: 5493003O53JMENV1N385 | Long             | LON              | CORP              | US        |   3825849 | PA      | $3753922.98   | 0.94%             | 2029-11-19      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| INEOS US FINANCE LLC                         | INEOS US FINANCE LLC                         | CUSIP: G4768PAN1<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   3895433 | PA      | $3727110.92   | 0.93%             | 2030-02-16      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES, INC.                        | SKYMILES IP LTD                              | CUSIP: 24736CBS2<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | LON              | CORP              | KY        |   3411968 | PA      | $3428618.71   | 0.85%             | 2027-10-20      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT, LLC                          | VOYAGER PARENT LLC                           | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |   1000000 | PA      | $988610.00    | 0.25%             | 2032-05-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FLUTTER ENTERTAINMENT PUBLIC LIMITED COMPANY | FLUTTER ENTERTAINMENT                        | CUSIP: N3313EAG5<br>LEI: 635400EG4YIJLJMZJ782 | Long             | LON              | CORP              | IE        |   4937500 | PA      | $4918984.38   | 1.23%             | 2030-11-30      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| TRONOX INCORPORATED                          | TRONOX INC                                   | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1293865.22   | 0.32%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESORTS INC               | MARRIOTT OWNERSHIP RESORTS INC               | CUSIP: 57163KAJ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4962500 | PA      | $4962500.00   | 1.24%             | 2031-04-01      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| U.S. ACUTE CARE SOLUTIONS, LLC               | US ACUTE CARE SOLUTIONS LLC                  | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1177032.83   | 0.29%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HOLDINGS INC.              | CUMULUS MEDIA NEW HOLDINGS INC               | CUSIP: 23110AAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |   2315000 | PA      | $655010.13    | 0.16%             | 2029-07-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| PROJECT ALPHA INTERMEDIATE HOLDING, INC.     | PROJECT ALPHA INTERMEDIATE HOLDING INC       | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $1004310.00   | 0.25%             | 2030-10-28      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| LSF12 BADGER BIDCO, LLC                      | LSF12 BADGER BIDCO LLC                       | CUSIP: 50221PAB8<br>LEI: 254900AQINKZO1M1LS24 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1940000.00   | 0.48%             | 2030-07-10      | Floating      | 10.33%                | No            |                  2 | On Loan: No      |
| BW NHHC HOLDCO INC.                          | BW NHHC HOLDCO INC                           | CUSIP: 05606CAB6<br>LEI: 549300Y5ZHAEE7MHCH51 | Long             | LON              | CORP              | US        |   3000000 | PA      | $600000.00    | 0.15%             | 2026-05-15      | Floating      | 13.33%                | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                       | EQUIPMENTSHARE COM INC                       | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1525338.72   | 0.38%             | 2033-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| WINDSTREAM SERVICES, LLC                     | WINDSTREAM ESCROW LLC                        | CUSIP: 97381AAA0<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1780477.21   | 0.44%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| CENTRAL PARENT LLC                           | CENTRAL PARENT INC                           | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    995000 | PA      | $828437.00    | 0.21%             | 2029-07-06      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| ASURION, LLC                                 | ASURION LLC                                  | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1000000 | PA      | $970500.00    | 0.24%             | 2030-09-19      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| FIRST ADVANTAGE HOLDINGS, LLC                | FIRST ADVANTAGE HOLDINGS LLC                 | CUSIP: 78477MAG6<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |   1500000 | PA      | $1499535.00   | 0.37%             | 2031-10-31      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ACRISURE, LLC                                | ACRISURE LLC                                 | CUSIP: 00488PAX3<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   1290000 | PA      | $1288387.50   | 0.32%             | 2032-06-07      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| CENGAGE LEARNING, INC.                       | CENGAGE LEARNING INC                         | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |   3960075 | PA      | $3966252.72   | 0.99%             | 2031-03-24      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| SPDR Blackstone Senior Loan ETF              | SPDR BLACKSTONE SENIOR LOAN ETF              | CUSIP: 78467V608<br>LEI: N/A                  | Long             |  | RF                | US        |    200000 | NS      | $8318000.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTJET LOYALTY LP                           | WESTJET LOYALTY LP                           | CUSIP: C9763HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   4950000 | PA      | $4947525.00   | 1.23%             | 2031-02-14      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| LIFESCAN GLOBAL CORPORATION                  | LIFESCAN GLOBAL CORP                         | CUSIP: 53227PAR1<br>LEI: 549300VL0F83S4LR4105 | Long             | LON              | CORP              | US        |   3750000 | PA      | $562500.00    | 0.14%             | 2027-12-31      | Floating      | 13.92%                | No            |                  2 | On Loan: No      |
| RISING TIDE HOLDINGS                         | RISING TIDE HOLDINGS                         | CUSIP: 76770EAU1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1411360 | PA      | $1404302.82   | 0.35%             | 2028-06-13      | Floating      | 15.00%                | No            |                  2 | On Loan: No      |
| INNIO Group Holding GmbH                     | INNIO NORTH AMERICA HOLDING INC              | CUSIP: A2838LAG1<br>LEI: 549300KQQI7KQCL6ZI60 | Long             | LON              | CORP              | AT        |   3629082 | PA      | $3633617.96   | 0.91%             | 2028-11-06      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| MAGNETITE CLO, LIMITED                       | MAGNETITE CLO LTD                            | CUSIP: 559923AG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $996600.00    | 0.25%             | 2037-01-25      | Floating      | 9.53%                 | Yes           |                  2 | On Loan: No      |
| RISING TIDE HOLDINGS INC                     | RISING TIDE HOLDINGS INC                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    241726 | NS      | $24172.60     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| MAGNETITE CLO, LIMITED                       | MAGNETITE CLO LTD                            | CUSIP: 55953UAW4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1375000 | PA      | $1388062.50   | 0.35%             | 2037-10-25      | Floating      | 8.28%                 | Yes           |                  2 | On Loan: No      |
| OSMOSIS BUYER LIMITED                        | AI AQUA MERGER SUB INC                       | CUSIP: 00132UAP9<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |    998608 | PA      | $996540.86    | 0.25%             | 2028-07-31      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS, INC.                     | RADIOLOGY PARTNERS INC                       | CUSIP: 75041EAB8<br>LEI: 549300SFTAG2177WUZ08 | Long             | LON              | CORP              | US        |   6440986 | PA      | $6428490.97   | 1.60%             | 2025-07-09      | Floating      | 10.18%                | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS, INC.                   | IHEARTCOMMUNICATIONS INC                     | CUSIP: 45174UAJ7<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |   3591058 | PA      | $2917734.90   | 0.73%             | 2029-05-01      | Floating      | 10.22%                | No            |                  2 | On Loan: No      |
| WIRECO WORLDGROUP INC.                       | WIRECO                                       | CUSIP: 97654QAK3<br>LEI: 5493008NQ1Q5T2GZOJ37 | Long             | LON              | CORP              | US        |   3747620 | PA      | $3541501.31   | 0.88%             | 2028-11-13      | Floating      | 8.02%                 | No            |                  3 | On Loan: No      |
| CAESARS ENTERTAINMENT, INC.                  | CAESARS ENTERTAINMENT INC                    | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   4803497 | PA      | $4793889.53   | 1.19%             | 2030-02-06      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                      | INVESCO SENIOR LOAN ETF                      | CUSIP: 46138G508<br>LEI: N/A                  | Long             |  | RF                | US        |    400000 | NS      | $8368000.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDISK CORPORATION                          | SANDISK CORPORATION                          | CUSIP: 80004YAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1425000 | PA      | $1416093.75   | 0.35%             | 2031-12-13      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC                          | GRAY TELEVISION INC                          | CUSIP: 389376AZ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4143226 | PA      | $4001983.58   | 1.00%             | 2028-12-01      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT, INC.                             | PROOFPOINT INC                               | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |   2221818 | PA      | $2222062.00   | 0.55%             | 2028-08-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION HOLDINGS, INC.        | CLYDESDALE ACQUISITION HOLDINGS LLC          | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   2396975 | PA      | $2391198.51   | 0.60%             | 2029-04-13      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| CAMELOT U.S. ACQUISITION LLC                 | CAMELOT US ACQUISITION LLC                   | CUSIP: L2000AAG5<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    892000 | PA      | $892000.00    | 0.22%             | 2031-01-31      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| HARSCO CORP                                  | HARSCO CORP                                  | CUSIP: 41587CAR9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3873415 | PA      | $3825966.12   | 0.95%             | 2028-03-10      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| NOVAE LLC                                    | NOVAE LLC IN                                 | CUSIP: 66988QAB5<br>LEI: 549300IO3D43N4TFUV08 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1880000.00   | 0.47%             | 2028-12-22      | Floating      | 9.45%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION, LLC                         | LBM ACQUISITION LLC                          | CUSIP: 50179JAB4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |   4564303 | PA      | $4494194.93   | 1.12%             | 2027-12-20      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| AZZ INC.                                     | AZZ INC                                      | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |   2243525 | PA      | $2254047.16   | 0.56%             | 2029-05-13      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC.                        | NEPTUNE BIDCO US INC                         | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   2239995 | PA      | $2113188.78   | 0.53%             | 2029-04-11      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| AHLSTROM HOLDING 3 OY                        | AHLSTROM HOLDING 3 OY                        | CUSIP: 78475BAB3<br>LEI: N/A                  | Long             | LON              | CORP              | FI        |   1927000 | PA      | $1919773.75   | 0.48%             | 2030-05-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY B                               | COVIS EQUITY B                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| IXS HOLDINGS, INC.                           | IXS HOLDINGS INC                             | CUSIP: 45074HAB4<br>LEI: 254900I3GPHU9VH9Z454 | Long             | LON              | CORP              | US        |   3000000 | PA      | $2912130.00   | 0.73%             | 2027-03-05      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| LES SCHWAB TIRE CENTERS                      | LES SCHWAB TIRE CENTERS                      | CUSIP: 50220KAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4676500 | PA      | $4667754.95   | 1.16%             | 2031-04-23      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| HARBOR FREIGHT TOOLS USA, INC.               | HARBOR FREIGHT TOOLS USA INC                 | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |   1000000 | PA      | $977500.00    | 0.24%             | 2031-06-11      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP, INC.                   | CLOUD SOFTWARE GROUP INC                     | CUSIP: 88632NBF6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   4889941 | PA      | $4893266.50   | 1.22%             | 2029-03-29      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| THE HERTZ CORPORATION                        | HERTZ CORP THE                               | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |   1026278 | PA      | $850527.68    | 0.21%             | 2028-06-30      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS, LLC                            | CCO HOLDINGS LLC CCO HOLDINGS CAPITAL CORP   | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1194394.12   | 0.30%             | 2032-02-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| FITNESS INTERNATIONAL LLC                    | FITNESS INTERNATIONAL LLC                    | CUSIP: 33818XAM2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4455000 | PA      | $4459455.00   | 1.11%             | 2029-02-12      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| AUDACY CAPITAL, LLC                          | AUDACY CAPITAL LLC                           | CUSIP: 05070XAC5<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |    460834 | PA      | $457378.02    | 0.11%             | 2028-09-30      | Floating      | 11.44%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYSTEMS, INC.           | CHS COMMUNITY HEALTH SYSTEMS INC             | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $738666.71    | 0.18%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CHART INDUSTRIES, INC.                       | CHART INDUSTRIES INC                         | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |   2432301 | PA      | $2434587.85   | 0.61%             | 2030-03-18      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| RIVER ROCK ENTERTAINMENT AUTHORITY           | RIVER ROCK ENTERTAINMENT AUTHORITY           | CUSIP: BL5114014<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    860000 | PA      | $834200.00    | 0.21%             | 2031-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education, Inc.                  | MCGRAW HILL EDUCATION INC                    | CUSIP: 58063DAF0<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |   4030807 | PA      | $4041730.48   | 1.01%             | 2031-08-06      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP                          | ENTERCOM MEDIA CORP                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    147854 | NS      | $1774248.00   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| RVR DEALERSHIP HOLDINGS, LLC                 | RVR DEALERSHIP HOLDINGS LLC                  | CUSIP: 75001CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1999936 | PA      | $1825501.86   | 0.45%             | 2028-02-08      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| VESTIS CORPORATION                           | VESTIS CORP                                  | CUSIP: 92550HAE3<br>LEI: 254900QDW0TA2TMFAP59 | Long             | LON              | CORP              | US        |   2493750 | PA      | $2384648.44   | 0.59%             | 2031-02-24      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS, INC.                | SURGERY CENTER HOLDINGS INC                  | CUSIP: 86880NBB8<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |   1984962 | PA      | $1990560.00   | 0.50%             | 2030-12-19      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING BRANDS, INC.            | CORNERSTONE BUILDING BRANDS INC              | CUSIP: 72431HAD2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |   3357229 | PA      | $2987933.56   | 0.74%             | 2028-04-12      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| CORE & MAIN LP                               | CORE MAIN LP                                 | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |   4197034 | PA      | $4198797.13   | 1.05%             | 2031-02-10      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS, LLC                         | SHIFT4 PAYMENTS LLC                          | CUSIP: 82453JAB4<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |    500000 | PA      | $503905.00    | 0.13%             | 2032-05-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REALPAGE, INC.                               | REALPAGE INC                                 | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |   3395865 | PA      | $3369716.70   | 0.84%             | 2028-04-22      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                         | CARNIVAL CORP                                | CUSIP: P2121YAX6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | LON              | CORP              | PA        |    162595 | PA      | $162442.18    | 0.04%             | 2027-08-09      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| MH SUB I, LLC                                | MH SUB I LLC                                 | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |   2357986 | PA      | $2209881.13   | 0.55%             | 2028-05-03      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| TRAVERSE MIDSTREAM PARTNERS LLC              | TRAVERSE MIDSTREAM PARTNERS LLC              | CUSIP: 89435TAB0<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |   4014159 | PA      | $4019177.14   | 1.00%             | 2028-02-16      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                              | MADISON IAQ LLC                              | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   2995334 | PA      | $2996112.78   | 0.75%             | 2028-06-16      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Owens & Minor, Inc.                          | OWENS MINOR INC                              | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $939832.72    | 0.23%             | 2030-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| 19TH HOLDINGS GOLF, LLC                      | 19TH HOLDINGS GOLF LLC                       | CUSIP: 68250XAB7<br>LEI: 549300INS30LLUJP0S18 | Long             | LON              | CORP              | US        |   2202109 | PA      | $2166325.15   | 0.54%             | 2029-02-07      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS, INC.                   | TEAM HEALTH HOLDINGS INC                     | CUSIP: 87817JAG3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |   3869935 | PA      | $3845128.27   | 0.96%             | 2027-02-02      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY E                               | COVIS EQUITY E                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MH SUB I LLC                                 | MH SUB I LLC                                 | CUSIP: 45567YAP0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1595863 | PA      | $1383086.93   | 0.34%             | 2031-12-31      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| KNIGHT HEALTH HOLDINGS LLC                   | KNIGHT HEALTH HOLDINGS LLC                   | CUSIP: 49902TAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22728384 | PA      | $8989075.97   | 2.24%             | 2028-12-26      | Floating      | 9.69%                 | No            |                  2 | On Loan: No      |
| OSCAR ACQUISITIONCO, LLC                     | OSCAR ACQUISITIONCO LLC                      | CUSIP: 68778DAB4<br>LEI: 254900RDCZK0Q19MEL65 | Long             | LON              | CORP              | US        |   6319855 | PA      | $5805039.58   | 1.45%             | 2029-04-29      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| THE DUN BRADSTREET CORPORATION               | THE DUN BRADSTREET CORPORATION               | CUSIP: 26483NAW0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2458825 | PA      | $2456710.80   | 0.61%             | 2029-01-18      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP                                | CQP HOLDCO LP BIP V CHINOOK HOLDCO LLC       | CUSIP: 12657NAB6<br>LEI: 549300LPL012JY5D4B69 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1627270.45   | 0.41%             | 2033-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS, LLC                            | CSC HOLDINGS LLC                             | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $948031.85    | 0.24%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| STAGWELL GLOBAL LLC                          | MIDAS OPCO HOLDINGS LLC                      | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1435297.69   | 0.36%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE, INC.                | GLOBAL MEDICAL RESPONSE INC                  | CUSIP: 00169QAG4<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |   5875918 | PA      | $5879208.65   | 1.46%             | 2028-10-02      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Entain plc                                   | ENTAIN PLC                                   | CUSIP: X3000CAB7<br>LEI: 213800GNI3K45LQR8L28 | Long             | LON              | CORP              | IM        |   1920272 | PA      | $1920866.94   | 0.48%             | 2027-03-29      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS INC.                  | METHANEX US OPERATIONS INC                   | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996623.80    | 0.25%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS, LLC                            | CSC HOLDINGS LLC                             | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   3855357 | PA      | $3797564.83   | 0.95%             | 2028-01-18      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| GGAM Finance Limited                         | GGAM FINANCE LTD                             | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |   1500000 | PA      | $1586873.89   | 0.40%             | 2028-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| AIR METHODS CORPORATION                      | AIR METHODS CORPORATION                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     79744 | NS      | $4984000.00   | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH, INC.                       | LIFEPOINT HEALTH                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   4931405 | PA      | $4873608.91   | 1.21%             | 2031-05-14      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                   | AMNEAL PHARMACEUTICALS LLC                   | CUSIP: 03167DAQ7<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |   6451570 | PA      | $6551052.99   | 1.63%             | 2028-05-04      | Floating      | 9.83%                 | No            |                  2 | On Loan: No      |
| BAKELITE US HOLDCO, INC.                     | BAKELITE US HOLDCO INC                       | CUSIP: 05710LAD5<br>LEI: 549300UCYL2XSFT5Y041 | Long             | LON              | CORP              | US        |   1969882 | PA      | $1941574.93   | 0.48%             | 2031-12-16      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| KARMAN HOLDINGS INC.                         | KARMAN HOLDINGS INC                          | CUSIP: 48571CAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    825000 | PA      | $826031.25    | 0.21%             | 2032-04-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| ALLSPRING BUYER LLC                          | ALLSPRING BUYER LLC                          | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    980000 | PA      | $984900.00    | 0.25%             | 2030-11-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Anchor Packaging, LLC                        | ANCHOR PACKAING LLC                          | CUSIP: 03306UAH1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3977128 | PA      | $3996019.52   | 1.00%             | 2029-07-18      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| FIRST BRANDS GROUP, LLC                      | FIRST BRANDS GROUP LLC                       | CUSIP: 31935HAD9<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |   2271804 | PA      | $2142447.80   | 0.53%             | 2027-03-24      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| B&G FOODS, INC.                              | B G FOODS INC                                | CUSIP: 05508TAV4<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | LON              | CORP              | US        |   6417097 | PA      | $5829932.82   | 1.45%             | 2029-10-10      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY D                               | COVIS EQUITY D                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NOVELIS CORPORATION                          | NOVELIS CORP                                 | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $897620.88    | 0.22%             | 2031-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                  | ALLIED UNIVERSAL HOLDCO LLC                  | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1045404.78   | 0.26%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corporation                         | CARNIVAL CORP                                | CUSIP: P2121YAY4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | LON              | CORP              | PA        |   4606630 | PA      | $4602300.11   | 1.15%             | 2028-10-18      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| COVIS EQUITY C                               | COVIS EQUITY C                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| EMBECTA CORP.                                | EMBECTA CORP                                 | CUSIP: 29081LAC8<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | LON              | CORP              | US        |   4510134 | PA      | $4485689.44   | 1.12%             | 2029-04-02      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                | CLEARWAY ENERGY OPERATING LLC                | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $917905.59    | 0.23%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS, INC.         | CLEAR CHANNEL OUTDOOR HOLDINGS INC           | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1610077.82   | 0.40%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| GLOVES BUYER, INC.                           | GLOVES BUYER INC                             | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |   1218000 | PA      | $1192117.50   | 0.30%             | 2032-01-17      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| PETCO HEALTH AND WELLNESS COMPANY, INC.      | PETCO ANIMAL SUPPLIES INC                    | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |   3376537 | PA      | $3103105.43   | 0.77%             | 2028-02-25      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| DS PARENT, INC.                              | DS PARENT INC                                | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1787500.00   | 0.45%             | 2031-01-31      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FINANCE LP              | NORTHRIVER MIDSTREAM FINANCE LP              | CUSIP: 66679PAB1<br>LEI: 549300SOLNLY3BL6GF18 | Long             | LON              | CORP              | CA        |   3026406 | PA      | $3036483.65   | 0.76%             | 2030-08-16      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| IMC GLOBAL HOLDINGS LLC                      | IMC GLOBAL HOLDINGS LLC                      | CUSIP: BL5111903<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    689000 | PA      | $692445.00    | 0.17%             | 2032-06-02      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| LIFESCAN GLOBAL CORPORATION                  | LIFESCAN GLOBAL CORP                         | CUSIP: 53227PAP5<br>LEI: 549300VL0F83S4LR4105 | Long             | LON              | CORP              | US        |   8784509 | PA      | $5709930.91   | 1.42%             | 2026-12-31      | Floating      | 10.92%                | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS LTD.                  | FIRST QUANTUM MINERALS LTD                   | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1037616.96   | 0.26%             | 2031-06-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AUTO AUCTION GROUP, LLC             | AMERICAN AUTO AUCTION GROUP LLC              | CUSIP: 02403MAR1<br>LEI: 5493002VI1KML1L8HW19 | Long             | LON              | CORP              | US        |    556000 | PA      | $557912.64    | 0.14%             | 2032-05-24      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HOLDINGS INC.              | CUMULUS MEDIA NEW HOLDINGS INC               | CUSIP: 23108LAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | LON              | CORP              | US        |  14406317 | PA      | $3515141.36   | 0.88%             | 2026-03-31      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| WHITE CAP SUPPLY HOLDINGS, LLC               | WHITE CAP BUYER LLC                          | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |   6130239 | PA      | $6087327.43   | 1.52%             | 2029-10-19      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO, LLC                             | BARNES GROUP                                 | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    637000 | PA      | $637637.00    | 0.16%             | 2031-12-09      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| DIAMOND FOREIGN ASSET COMPANY                | DIAMOND FOREIGN ASSET CO DIAMOND FINANCE LLC | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1250000 | PA      | $1300950.82   | 0.32%             | 2030-10-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                       | ARSENAL AIC PARENT LLC                       | CUSIP: 04287KAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4432865 | PA      | $4422890.82   | 1.10%             | 2030-08-18      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| HOUGHTON MIFFLIN HARCOURT CO                 | HOUGHTON MIFFLIN HARCOURT CO                 | CUSIP: 44157YAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3294557 | PA      | $3213840.14   | 0.80%             | 2029-04-07      | Floating      | 9.63%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                | COMMSCOPE LLC                                | CUSIP: BL4902708<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1500000 | PA      | $1516410.00   | 0.38%             | 2029-12-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH, LLC                             | ADAPTHEALTH LLC                              | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $950859.74    | 0.24%             | 2030-03-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| GRAHAM PACKAGING COMPANY INC.                | GRAHAM PACKAGING CO INC                      | CUSIP: 38469EAE3<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |   2343256 | PA      | $2346513.14   | 0.58%             | 2027-08-04      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| ORION US FINCO                               | ORION US FINCO                               | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   1503000 | PA      | $1507509.00   | 0.38%             | 2032-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHARIOT BUYER LLC                            | CHARIOT BUYER LLC                            | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   3774088 | PA      | $3777937.66   | 0.94%             | 2028-11-03      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| HAMILTON PROJECTS ACQUIROR LLC               | HAMILTON PROJECTS ACQUIROR LLC               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $752190.00    | 0.19%             | 2031-05-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LIGHT AND WONDER INTERNATIONAL, INC.         | LIGHT WONDER INTERNATIONAL INC               | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |   4840786 | PA      | $4838365.69   | 1.21%             | 2029-04-16      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION                            | GATES CORP DE                                | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |   5965000 | PA      | $5960228.00   | 1.48%             | 2031-06-04      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| SEDGWICK CLAIMS MANAGEMENT SERVICES, INC.    | SEDGWICK CLAIMS MANAGEMENT SERVICES INC      | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |   2651675 | PA      | $2659974.74   | 0.66%             | 2028-02-24      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| HOLLEY INC.                                  | HOLLEY PURCHASER INC                         | CUSIP: 43538JAC3<br>LEI: 254900EEM9JI9G1A4D88 | Long             | LON              | CORP              | US        |   4098840 | PA      | $3788886.17   | 0.94%             | 2028-11-10      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDINGS LP                 | SCIENTIFIC GAMES HOLDINGS LP                 | CUSIP: 80874DAA4<br>LEI: 549300W5GPFXXB6TQ330 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1926654.32   | 0.48%             | 2030-03-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| DIAMOND ESCROW ISSUER, LLC                   | OLYMPUS WATER US HOLDING CORP                | CUSIP: 25259KAA8<br>LEI: 2549002I12VHJWR4RC85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1052947.81   | 0.26%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| AUDACY CAPITAL, LLC                          | ENTERCOM MEDIA CORP                          | CUSIP: 05070XAB7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |   3872919 | PA      | $3152556.26   | 0.79%             | 2029-10-01      | Floating      | 10.44%                | No            |                  2 | On Loan: No      |
| ZIGGO FINANCING PARTNERSHIP                  | ZIGGO FINANCING PARTNERSHIP                  | CUSIP: N9833RAJ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6000000 | PA      | $5856840.00   | 1.46%             | 2028-04-30      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP.                                 | MCAFEE CORP                                  | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |   2967461 | PA      | $2877814.48   | 0.72%             | 2029-03-01      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| PERRIGO COMPANY PUBLIC LIMITED COMPANY       | PERRIGO INVESTMENTS LLC                      | CUSIP: 71429TAF7<br>LEI: 549300IFOQS6R1QLY196 | Long             | LON              | CORP              | IE        |   3003889 | PA      | $3002627.35   | 0.75%             | 2029-04-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS, LLC                         | SHIFT4 PAYMENTS LLC                          | CUSIP: 82453AAB3<br>LEI: 254900GTEMR7L40VPI74 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1558971.80   | 0.39%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO.                         | TRAVEL LEISURE CO                            | CUSIP: 98309GAF3<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | LON              | CORP              | US        |   2178041 | PA      | $2179674.78   | 0.54%             | 2029-12-14      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| JO ANN STORES LLC                            | JO ANN STORES LLC                            | CUSIP: 47768J200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38650 | NS      | $386.50       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| COVIS EQUITY A                               | COVIS EQUITY A                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10030 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ALPHA GENERATION LLC                         | ALPHA GENERATION LLC                         | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031804.03   | 0.26%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CONSTELLATION RENEWABLES, LLC                | EXGEN RENEWABLES IV LLC                      | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |   2743592 | PA      | $2750450.81   | 0.69%             | 2027-12-15      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP LP                               | UNITI GROUP LP UNITI GROUP FINANCE INC       | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    784000 | PA      | $830677.06    | 0.21%             | 2028-02-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| THE HERTZ CORPORATION                        | HERTZ CORP THE                               | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    203454 | PA      | $168612.39    | 0.04%             | 2028-06-30      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| JANUS INTERNATIONAL GROUP, LLC               | JANUS INTERNATIONAL GROUP LLC                | CUSIP: 47102DAN9<br>LEI: 549300EG57ZJJG8NC776 | Long             | LON              | CORP              | US        |   3555200 | PA      | $3540979.20   | 0.88%             | 2030-08-05      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| GIP PILOT ACQUISITION PARTNERS, L.P.         | GIP PILOT ACQUISITION PARTNERS L P           | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |   2769861 | PA      | $2772159.59   | 0.69%             | 2030-10-04      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC.                            | ARCHES BUYER INC                             | CUSIP: 03952HAD6<br>LEI: 2549009ADY4208OH2Y47 | Long             | LON              | CORP              | US        |   1974227 | PA      | $1947811.66   | 0.49%             | 2027-12-06      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| MEN S WEARHOUSE INC                          | MEN S WEARHOUSE INC                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32607 | NS      | $652140.00    | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer