# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001752724-23-014699
**Filing Date:** 2023-1
**Character Count:** 112156
**Document Hash:** e359db93724f5d9d1b546aa96c787f1e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014699.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014699

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 23556554

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Sustainable High Yield ETF (Series ID: S000075296)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000234213 | Fidelity Sustainable High Yield ETF | FSYD            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity**<sup>®</sup> **Sustainable High Yield ETF**

**November 30, 2022**

SHY-NPRT1-0123

1.9904451.100 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Corporate Bonds - 96.5%** | &nbsp;&nbsp;**Corporate Bonds - 96.5%** | &nbsp;&nbsp;**Corporate Bonds - 96.5%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Convertible Bonds - 1.3%  |  |  |
| Broadcasting - 0.9% |  |  |
| DISH Network Corp. 3.375% 8/15/26  | 120000 | 77700 |
| Gaming - 0.1% |  |  |
| DraftKings, Inc. 0% 3/15/28  | 14000 | 8932 |
| Homebuilders/Real Estate - 0.3% |  |  |
| Redfin Corp. 0.5% 4/1/27  | 61000 | 25010 |
| Technology - 0.0% |  |  |
| Oak Street Health, Inc. 0% 3/15/26  | 8000 | 6138 |
| TOTAL CONVERTIBLE BONDS |  | 117780 |
| Nonconvertible Bonds - 95.2%  |  |  |
| Aerospace - 2.3% |  |  |
| ATI, Inc. 4.875% 10/1/29  | 50000 | 42621 |
| Bombardier, Inc. 6% 2/15/28 (b) | 105000 | 98457 |
| Howmet Aerospace, Inc. 3% 1/15/29  | 30000 | 25353 |
| Triumph Group, Inc. 8.875% 6/1/24 (b) | 34000 | 34765 |
|  |  | 201196 |
| Automotive & Auto Parts - 1.0% |  |  |
| McLaren Finance PLC 7.5% 8/1/26 (b) | 25000 | 20208 |
| Rivian Holdco & Rivian LLC & Rivian Automotive LLC 6 month U.S. LIBOR + 5.620% 10.1636% 10/15/26 (b)(c)(d) | 70000 | 67550 |
|  |  | 87758 |
| Broadcasting - 0.6% |  |  |
| DISH Network Corp. 11.75% 11/15/27 (b) | 20000 | 20557 |
| TEGNA, Inc. 4.75% 3/15/26 (b) | 30000 | 29323 |
|  |  | 49880 |
| Building Materials - 0.4% |  |  |
| Cornerstone Building Brands, Inc. 6.125% 1/15/29 (b) | 40000 | 26986 |
| Eco Material Technologies, Inc. 7.875% 1/31/27 (b) | 10000 | 9510 |
|  |  | 36496 |
| Cable/Satellite TV - 3.7% |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp.: |  |  |
|  4.25% 1/15/34 (b) | 50000  | 38950  |
|  4.75% 2/1/32 (b) | 250000  | 209061  |
| DIRECTV Financing LLC / DIRECTV Financing Co-Obligor, Inc. 5.875% 8/15/27 (b) | 50000 | 45879 |
| DISH DBS Corp. 5.75% 12/1/28 (b) | 5000 | 4055 |
| UPC Broadband Finco BV 4.875% 7/15/31 (b) | 30000 | 25279 |
|  |  | 323224 |
| Capital Goods - 0.4% |  |  |
| Patrick Industries, Inc. 4.75% 5/1/29 (b) | 50000 | 39250 |
| Chemicals - 4.3% |  |  |
| Methanex Corp.: |  |  |
|  5.125% 10/15/27  | 70000  | 64225  |
|  5.65% 12/1/44  | 75000  | 56250  |
| NOVA Chemicals Corp.: |  |  |
|  4.25% 5/15/29 (b) | 30000  | 25013  |
|  4.875% 6/1/24 (b) | 20000  | 19463  |
| Nufarm Australia Ltd. 5% 1/27/30 (b) | 45000 | 38531 |
| Olympus Water U.S. Holding Corp. 6.25% 10/1/29 (b) | 60000 | 43292 |
| The Chemours Co. LLC 4.625% 11/15/29 (b) | 165000 | 132825 |
|  |  | 379599 |
| Consumer Products - 0.2% |  |  |
| Macy's Retail Holdings LLC 5.875% 4/1/29 (b) | 16000 | 14882 |
| Containers - 0.5% |  |  |
| Crown Americas LLC/Crown Americas Capital Corp. IV 4.75% 2/1/26  | 50000 | 48421 |
| Diversified Financial Services - 3.3% |  |  |
| Coinbase Global, Inc.: |  |  |
|  3.375% 10/1/28 (b) | 30000  | 17534  |
|  3.625% 10/1/31 (b) | 20000  | 10800  |
| Fortress Transportation & Infrastructure Investors LLC 5.5% 5/1/28 (b) | 40000 | 34801 |
| Hightower Holding LLC 6.75% 4/15/29 (b) | 40000 | 33178 |
| HTA Group Ltd. 7% 12/18/25 (b) | 30000 | 27602 |
| OneMain Finance Corp. 3.875% 9/15/28  | 180000 | 142812 |
| StoneX Group, Inc. 8.625% 6/15/25 (b) | 25000 | 25344 |
|  |  | 292071 |
| Energy - 15.5% |  |  |
| Altus Midstream LP 5.875% 6/15/30 (b) | 45000 | 42287 |
| Archrock Partners LP / Archrock Partners Finance Corp. 6.25% 4/1/28 (b) | 30000 | 27825 |
| Atlantica Sustainable Infrastructure PLC 4.125% 6/15/28 (b) | 105000 | 92560 |
| California Resources Corp. 7.125% 2/1/26 (b) | 100000 | 97250 |
| CGG SA 8.75% 4/1/27 (b) | 67000 | 56351 |
| CNX Resources Corp.: |  |  |
|  6% 1/15/29 (b) | 40000  | 37809  |
|  7.375% 1/15/31 (b) | 5000  | 5003  |
| Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. 6% 2/1/29 (b) | 80000 | 73800 |
| CVR Energy, Inc. 5.25% 2/15/25 (b) | 131000 | 125566 |
| Energean PLC 6.5% 4/30/27 (b) | 40000 | 36800 |
| Global Partners LP/GLP Finance Corp. 6.875% 1/15/29  | 35000 | 31780 |
| Holly Energy Partners LP/Holly Energy Finance Corp. 5% 2/1/28 (b) | 40000 | 36446 |
| MEG Energy Corp. 5.875% 2/1/29 (b) | 100000 | 94900 |
| New Fortress Energy, Inc.: |  |  |
|  6.5% 9/30/26 (b) | 205000  | 198123  |
|  6.75% 9/15/25 (b) | 5000  | 4884  |
| Northern Oil & Gas, Inc. 8.125% 3/1/28 (b) | 30000 | 29292 |
| Oceaneering International, Inc. 6% 2/1/28  | 50000 | 45297 |
| SM Energy Co. 6.5% 7/15/28  | 30000 | 29025 |
| Sunnova Energy Corp. 5.875% 9/1/26 (b) | 80000 | 71577 |
| Sunoco LP/Sunoco Finance Corp. 4.5% 5/15/29  | 60000 | 51953 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. 6% 3/1/27 (b) | 25000 | 23766 |
| Teine Energy Ltd. 6.875% 4/15/29 (b) | 70000 | 63350 |
| Transocean Guardian Ltd. 5.875% 1/15/24 (b) | 46138 | 44942 |
| Transocean Sentry Ltd. 5.375% 5/15/23 (b) | 29769 | 29481 |
| Weatherford International Ltd. 8.625% 4/30/30 (b) | 30000 | 28770 |
|  |  | 1378837 |
| Environmental - 3.0% |  |  |
| Covanta Holding Corp. 4.875% 12/1/29 (b) | 121000 | 102245 |
| Darling Ingredients, Inc.: |  |  |
|  5.25% 4/15/27 (b) | 20000  | 19357  |
|  6% 6/15/30 (b) | 5000  | 4876  |
| Stericycle, Inc.: |  |  |
|  3.875% 1/15/29 (b) | 80000  | 69600  |
|  5.375% 7/15/24 (b) | 70000  | 69188  |
|  |  | 265266 |
| Food & Drug Retail - 0.9% |  |  |
| Albertsons Companies LLC/Safeway, Inc./New Albertson's, Inc./Albertson's LLC: |  |  |
|  3.25% 3/15/26 (b) | 50000  | 45393  |
|  4.875% 2/15/30 (b) | 25000  | 22306  |
| Emergent BioSolutions, Inc. 3.875% 8/15/28 (b) | 35000 | 15750 |
|  |  | 83449 |
| Food/Beverage/Tobacco - 1.3% |  |  |
| HLF Financing SARL LLC / Herbalife International, Inc. 4.875% 6/1/29 (b) | 5000 | 3573 |
| Post Holdings, Inc. 4.5% 9/15/31 (b) | 30000 | 25567 |
| TreeHouse Foods, Inc. 4% 9/1/28  | 30000 | 25559 |
| Triton Water Holdings, Inc. 6.25% 4/1/29 (b) | 45000 | 35023 |
| U.S. Foods, Inc. 4.625% 6/1/30 (b) | 30000 | 26622 |
|  |  | 116344 |
| Gaming - 1.2% |  |  |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25% 5/15/27 (b) | 120000 | 109932 |
| Healthcare - 8.9% |  |  |
| Akumin Escrow, Inc. 7.5% 8/1/28 (b) | 30000 | 20475 |
| Cano Health, Inc. 6.25% 10/1/28 (b) | 90000 | 45450 |
| Catalent Pharma Solutions 3.5% 4/1/30 (b) | 70000 | 57050 |
| Charles River Laboratories International, Inc. 3.75% 3/15/29 (b) | 70000 | 60908 |
| Community Health Systems, Inc.: |  |  |
|  4.75% 2/15/31 (b) | 89000  | 65209  |
|  5.25% 5/15/30 (b) | 70000  | 53382  |
|  6.875% 4/15/29 (b) | 35000  | 18725  |
| DaVita HealthCare Partners, Inc. 3.75% 2/15/31 (b) | 75000 | 55125 |
| Encompass Health Corp. 4.625% 4/1/31  | 30000 | 25891 |
| HealthEquity, Inc. 4.5% 10/1/29 (b) | 70000 | 61327 |
| Horizon Pharma U.S.A., Inc. 5.5% 8/1/27 (b) | 30000 | 29775 |
| Pediatrix Medical Group, Inc. 5.375% 2/15/30 (b) | 65000 | 54848 |
| RegionalCare Hospital Partners Holdings, Inc. 5.375% 1/15/29 (b) | 50000 | 29332 |
| Syneos Health, Inc. 3.625% 1/15/29 (b) | 50000 | 39531 |
| Tenet Healthcare Corp.: |  |  |
|  4.375% 1/15/30 (b) | 30000  | 26132  |
|  6.125% 10/1/28 (b) | 160000  | 141200  |
|  6.125% 6/15/30 (b) | 15000  | 14214  |
|  |  | 798574 |
| Homebuilders/Real Estate - 3.6% |  |  |
| Howard Hughes Corp. 4.375% 2/1/31 (b) | 65000 | 53381 |
| MPT Operating Partnership LP/MPT Finance Corp.: |  |  |
|  4.625% 8/1/29  | 10000  | 7865  |
|  5% 10/15/27  | 190000  | 162222  |
| Realogy Group LLC/Realogy Co.-Issuer Corp. 5.25% 4/15/30 (b) | 35000 | 25725 |
| Rithm Capital Corp. 6.25% 10/15/25 (b) | 30000 | 27085 |
| Taylor Morrison Communities, Inc./Monarch Communities, Inc. 5.125% 8/1/30 (b) | 50000 | 43649 |
|  |  | 319927 |
| Hotels - 0.9% |  |  |
| Hilton Domestic Operating Co., Inc. 3.625% 2/15/32 (b) | 100000 | 82331 |
| Insurance - 0.3% |  |  |
| Radian Group, Inc. 6.625% 3/15/25  | 30000 | 29704 |
| Leisure - 1.5% |  |  |
| Constellation Merger Sub, Inc. 8.5% 9/15/25 (b) | 25000 | 22029 |
| MajorDrive Holdings IV LLC 6.375% 6/1/29 (b) | 35000 | 27300 |
| Royal Caribbean Cruises Ltd. 5.5% 4/1/28 (b) | 95000 | 77544 |
|  |  | 126873 |
| Metals/Mining - 3.0% |  |  |
| Coeur d'Alene Mines Corp. 5.125% 2/15/29 (b) | 30000 | 23362 |
| Eldorado Gold Corp. 6.25% 9/1/29 (b) | 35000 | 29094 |
| ERO Copper Corp. 6.5% 2/15/30 (b) | 75000 | 57797 |
| FMG Resources Pty Ltd. 6.125% 4/15/32 (b) | 60000 | 54894 |
| IAMGOLD Corp. 5.75% 10/15/28 (b) | 40000 | 27972 |
| Mineral Resources Ltd. 8.5% 5/1/30 (b) | 75000 | 76006 |
|  |  | 269125 |
| Paper - 2.9% |  |  |
| Berry Global, Inc. 5.625% 7/15/27 (b) | 120000 | 117600 |
| Clydesdale Acquisition Holdings, Inc. 6.625% 4/15/29 (b) | 40000 | 38538 |
| Domtar Corp. 6.75% 10/1/28 (b) | 30000 | 26145 |
| Enviva Partners LP / Enviva Partners Finance Corp. 6.5% 1/15/26 (b) | 20000 | 19068 |
| Mercer International, Inc. 5.125% 2/1/29  | 70000 | 60095 |
|  |  | 261446 |
| Restaurants - 1.7% |  |  |
| 1011778 BC Unlimited Liability Co./New Red Finance, Inc. 3.5% 2/15/29 (b) | 40000 | 34106 |
| Yum! Brands, Inc. 4.625% 1/31/32  | 130000 | 114390 |
|  |  | 148496 |
| Services - 8.6% |  |  |
| Adtalem Global Education, Inc. 5.5% 3/1/28 (b) | 37000 | 34410 |
| AECOM 5.125% 3/15/27  | 50000 | 48644 |
| APX Group, Inc. 5.75% 7/15/29 (b) | 40000 | 34052 |
| Brand Energy & Infrastructure Services, Inc. 8.5% 7/15/25 (b) | 55000 | 43518 |
| Dun & Bradstreet Corp. 5% 12/15/29 (b) | 50000 | 43018 |
| GEMS MENASA Cayman Ltd. 7.125% 7/31/26 (b) | 25000 | 23770 |
| Hertz Corp. 4.625% 12/1/26 (b) | 50000 | 43374 |
| KAR Auction Services, Inc. 5.125% 6/1/25 (b) | 18000 | 17500 |
| Life Time, Inc. 8% 4/15/26 (b) | 30000 | 27091 |
| Neptune BidCo U.S., Inc. 9.29% 4/15/29 (b) | 20000 | 19261 |
| Sotheby's 7.375% 10/15/27 (b) | 30000 | 29220 |
| StoneMor, Inc. 8.5% 5/15/29 (b) | 30000 | 24375 |
| Tempo Acquisition LLC 5.75% 6/1/25 (b) | 30000 | 29621 |
| Uber Technologies, Inc. 4.5% 8/15/29 (b) | 233000 | 202832 |
| WASH Multifamily Acquisition, Inc. 5.75% 4/15/26 (b) | 155000 | 145285 |
|  |  | 765971 |
| Steel - 0.5% |  |  |
| Infrabuild Australia Pty Ltd. 12% 10/1/24 (b) | 50000 | 48548 |
| Super Retail - 3.1% |  |  |
| At Home Group, Inc. 4.875% 7/15/28 (b) | 30000 | 21825 |
| Bath & Body Works, Inc. 6.95% 3/1/33  | 30000 | 26019 |
| Carvana Co. 4.875% 9/1/29 (b) | 125000 | 41771 |
| Hanesbrands, Inc. 4.625% 5/15/24 (b) | 45000 | 43650 |
| LBM Acquisition LLC 6.25% 1/15/29 (b) | 40000 | 27553 |
| Michaels Companies, Inc. 5.25% 5/1/28 (b) | 70000 | 51270 |
| Nordstrom, Inc. 4.375% 4/1/30  | 25000 | 20074 |
| Rent-A-Center, Inc. 6.375% 2/15/29 (b) | 50000 | 41125 |
|  |  | 273287 |
| Technology - 11.7% |  |  |
| Athenahealth Group, Inc. 6.5% 2/15/30 (b) | 30000 | 22467 |
| Atkore, Inc. 4.25% 6/1/31 (b) | 30000 | 25275 |
| Black Knight InfoServ LLC 3.625% 9/1/28 (b) | 30000 | 26963 |
| Broadcom, Inc. 2.6% 2/15/33 (b) | 35000 | 26446 |
| Coherent Corp. 5% 12/15/29 (b) | 35000 | 30888 |
| CommScope, Inc. 4.75% 9/1/29 (b) | 45000 | 37897 |
| Elastic NV 4.125% 7/15/29 (b) | 110000 | 89422 |
| Entegris Escrow Corp. 5.95% 6/15/30 (b) | 76000 | 70988 |
| Entegris, Inc. 3.625% 5/1/29 (b) | 110000 | 91300 |
| Go Daddy Operating Co. LLC / GD Finance Co., Inc. 3.5% 3/1/29 (b) | 160000 | 135213 |
| Match Group Holdings II LLC 4.625% 6/1/28 (b) | 50000 | 44720 |
| NCR Corp. 6.125% 9/1/29 (b) | 52500 | 50925 |
| NortonLifeLock, Inc. 5% 4/15/25 (b) | 55000 | 53350 |
| onsemi 3.875% 9/1/28 (b) | 50000 | 44335 |
| Open Text Corp. 3.875% 12/1/29 (b) | 55000 | 43908 |
| Open Text Holdings, Inc.: |  |  |
|  4.125% 2/15/30 (b) | 10000  | 8098  |
|  4.125% 12/1/31 (b) | 3000  | 2328  |
| Sensata Technologies BV 4% 4/15/29 (b) | 30000 | 26089 |
| Twilio, Inc. 3.625% 3/15/29  | 70000 | 57750 |
| Uber Technologies, Inc. 8% 11/1/26 (b) | 20000 | 20228 |
| Virtusa Corp. 7.125% 12/15/28 (b) | 40000 | 30000 |
| VM Consolidated, Inc. 5.5% 4/15/29 (b) | 110000 | 96788 |
|  |  | 1035378 |
| Telecommunications - 6.4% |  |  |
| Altice Financing SA 5.75% 8/15/29 (b) | 90000 | 73598 |
| Altice France Holding SA 6% 2/15/28 (b) | 120000 | 80550 |
| Altice France SA 5.125% 7/15/29 (b) | 35000 | 27151 |
| Frontier Communications Holdings LLC 8.75% 5/15/30 (b) | 25000 | 25863 |
| Level 3 Financing, Inc. 3.75% 7/15/29 (b) | 180000 | 130171 |
| Millicom International Cellular SA 4.5% 4/27/31 (b) | 40000 | 32715 |
| SBA Communications Corp. 3.125% 2/1/29  | 60000 | 50091 |
| Uniti Group, Inc. 6% 1/15/30 (b) | 130000 | 93800 |
| Virgin Media Finance PLC 5% 7/15/30 (b) | 30000 | 24457 |
| Zayo Group Holdings, Inc. 6.125% 3/1/28 (b) | 55000 | 29838 |
|  |  | 568234 |
| Textiles/Apparel - 0.9% |  |  |
| Crocs, Inc. 4.125% 8/15/31 (b) | 70000 | 55934 |
| Victoria's Secret & Co. 4.625% 7/15/29 (b) | 30000 | 25320 |
|  |  | 81254 |
| Transportation Ex Air/Rail - 0.3% |  |  |
| Seaspan Corp. 5.5% 8/1/29 (b) | 40000 | 30794 |
| Utilities - 2.3% |  |  |
| PG&E Corp. 5% 7/1/28  | 35000 | 32291 |
| Pike Corp. 5.5% 9/1/28 (b) | 15000 | 13400 |
| TerraForm Global, Inc. 6.125% 3/1/26 (b) | 140000 | 131002 |
| TerraForm Power Operating LLC 4.75% 1/15/30 (b) | 30000 | 27000 |
|  |  | 203693 |
| TOTAL NONCONVERTIBLE BONDS |  | 8470240 |
| <br> **TOTAL CORPORATE BONDS**<br> (Cost $9,390,687) |  | <br> **8588020** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 0.6%** | &nbsp;&nbsp;**Common Stocks - 0.6%** | &nbsp;&nbsp;**Common Stocks - 0.6%** |
|  | Shares | Value ($)<br>|
| Energy - 0.4%  |  |  |
| Denbury, Inc. (e) | 150 | 13464 |
| New Fortress Energy, Inc.  | 400 | 20360 |
| TOTAL ENERGY |  | 33824 |
| Technology - 0.1%  |  |  |
| Coherent Corp. (e) | 230 | 8434 |
| Utilities - 0.1%  |  |  |
| EQT Corp.  | 230 | 9754 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $44,798) |  | <br> **52012** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Bank Loan Obligations - 0.0%** | &nbsp;&nbsp;**Bank Loan Obligations - 0.0%** | &nbsp;&nbsp;**Bank Loan Obligations - 0.0%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Services - 0.0%  |  |  |
| Brand Energy & Infrastructure Services, Inc. Tranche B, term loan 3 month U.S. LIBOR + 4.250% 8.493% 6/21/24 (c)(d)(f)<br> (Cost $974) | 992 | **873** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Preferred Securities - 0.6%** | &nbsp;&nbsp;**Preferred Securities - 0.6%** | &nbsp;&nbsp;**Preferred Securities - 0.6%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Banks & Thrifts - 0.6%  |  |  |
| Ally Financial, Inc. 4.7% (c)(g)<br> (Cost $76,504) | 80000 | **57950** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** |
|  | Shares | Value ($)<br>|
| Fidelity Cash Central Fund 3.86% (h) <br>(Cost $14,936) <br>| 14933 | **14936** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 97.9%**<br> (Cost $9,527,899)<br>| <br>**8713791** |
| **NET OTHER ASSETS (LIABILITIES) - 2.1%**  | **189072** |
| **NET ASSETS - 100.0%** | **8902863** |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $7,271,908 or 81.7% of net assets.

(c) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(e) Non-income producing

(f) Remaining maturities of bank loan obligations may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty.

(g) Security is perpetual in nature with no stated maturity date.

(h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund 3.86% | 299904 | 393699 | 678667 | 1527 | - | - | 14936 | 0.0% |
| Total | 299904 | 393699 | 678667 | 1527 | - | - | 14936 |  |

---

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

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

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Corporate Bonds, Bank Loan Obligations and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

The Fund invests a significant portion of its assets in below investment grade securities. The value of these securities can be more volatile due to changes in the credit quality of the issuer and is sensitive to changes in economic, market and regulatory conditions.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Sustainable High Yield ETF

- **b. EDGAR series identifier (if any):** S000075296

- **c. LEI of Series:** 5493008RT5ZXTNQPLX41

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $8954513.14

**Total Liabilities:** $51652.16

**Net Assets:** $8902860.98

**Cash Not Reported:** $99109.02

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 25.01245550 | **1-Year:** 81.84732120 | **5-Year:** 88.85117060 | **10-Year:** 7.48779180 | **30-Year:** 0.00148050

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

- **3-Month:** 502.32168500 | **1-Year:** 1572.77828810 | **5-Year:** 1888.10639362 | **10-Year:** 246.89892705 | **30-Year:** 27.01007050

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234213 | -4.01%               | 2.64%                | 1.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-27123.63               | $-381760.63                                |
| Month 2  | $-83197.58               | $264752.42                                 |
| Month 3  | $-37960.29               | $112587.57                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHARLES RIVER LABORATORIES INTERNATIONAL INC                           | CHARLES RIVER LABS INTL INC 3.75% 03/15/2029 144A                                             | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     70000 | PA      | $60908.47     | 0.68%             | 2029-03-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| VIRTUSA CORP                                                           | VIRTUSA CORP 7.125% 12/15/2028 144A                                                           | CUSIP: 92837TAA0<br>LEI: C77OMXDER63WLJCSKT03 | Long             | DBT              | CORP              | US        |     40000 | PA      | $30000.00     | 0.34%             | 2028-12-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORPORATION                                            | ENTEGRIS ESCROW CORPORATION 5.95% 06/15/2030 144A                                             | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $70987.73     | 0.80%             | 2030-06-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                                          | COHERENT CORP                                                                                 | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |       230 | NS      | $8434.10      | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX RESOURCES CORP                                                     | CNX RESOURCES CORP 7.375% 01/15/2031 144A                                                     | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5002.70      | 0.06%             | 2031-01-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                                                | NEW FORTRESS ENERGY INC 6.5% 09/30/2026 144A                                                  | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $198123.28    | 2.23%             | 2026-09-30      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC                                                       | MICHAELS COS INC 5.25% 05/01/2028 144A                                                        | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |     70000 | PA      | $51270.45     | 0.58%             | 2028-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                           | US FOODS INC 4.625% 06/01/2030 144A                                                           | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26622.30     | 0.30%             | 2030-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                                              | PIKE CORP 5.5% 09/01/2028 144A                                                                | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13400.10     | 0.15%             | 2028-09-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                                                | DARLING INGREDIENTS INC 5.25% 04/15/2027 144A                                                 | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19357.00     | 0.22%             | 2027-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                                                         | STERICYCLE INC 3.875% 01/15/2029 144A                                                         | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |     80000 | PA      | $69600.00     | 0.78%             | 2029-01-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTIONS                                              | CATALENT PHARMA SOLUTIONS 3.5% 04/01/2030 144A                                                | CUSIP: 14879EAK4<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |     70000 | PA      | $57050.00     | 0.64%             | 2030-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| SOTHEBYS                                                               | SOTHEBYS 7.375% 10/15/2027 144A                                                               | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29219.85     | 0.33%             | 2027-10-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                           | ENTEGRIS INC 3.625% 05/01/2029 144A                                                           | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    110000 | PA      | $91300.00     | 1.03%             | 2029-05-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ERO COPPER CORP                                                        | ERO COPPER CORP 6.5% 02/15/2030 144A                                                          | CUSIP: 296006AA7<br>LEI: 549300KL8A21SEIO8I47 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $57796.88     | 0.65%             | 2030-02-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| WASH MULTIFAMILY ACQUISITION INC                                       | WASH MULTIFAMILY ACQUISITION INC 5.75% 04/15/2026 144A                                        | CUSIP: 93710WAA3<br>LEI: 549300AS7PRY5PHG6L12 | Long             | DBT              | CORP              | US        |    155000 | PA      | $145284.60    | 1.63%             | 2026-04-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                                          | COMMSCOPE INC 4.75% 09/01/2029 144A                                                           | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     45000 | PA      | $37897.20     | 0.43%             | 2029-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TRIUMPH GROUP INC                                                      | TRIUMPH GROUP INC(NEW) 8.875% 06/01/2024 144A                                                 | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |     34000 | PA      | $34765.00     | 0.39%             | 2024-06-01      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP / SUNOCO FIN CORP                                            | SUNOCO LP / SUNOCO FIN CORP 4.5% 05/15/2029                                                   | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $51953.23     | 0.58%             | 2029-05-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                                                           | ENERGEAN PLC 6.5% 04/30/2027 144A                                                             | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |     40000 | PA      | $36800.00     | 0.41%             | 2027-04-30      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| CHS/CMNTY HEALTH SYSTEMS INC                                           | CHS/CMNTY HEALTH SYSTEMS INC 6.875% 04/15/2029 144A                                           | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     35000 | PA      | $18725.00     | 0.21%             | 2029-04-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                                          | LIFE TIME INC 8% 04/15/2026 144A                                                              | CUSIP: 53190FAC9<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27091.41     | 0.30%             | 2026-04-15      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                                                 | PATRICK INDUSTRIES INC 4.75% 05/01/2029 144A                                                  | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $39250.00     | 0.44%             | 2029-05-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TEINE ENERGY LTD                                                       | TEINE ENERGY LTD 6.875% 04/15/2029 144A                                                       | CUSIP: 879068AB0<br>LEI: 5493002EE80G6ER7SM91 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $63350.00     | 0.71%             | 2029-04-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| KAR AUCTION SVCS INC                                                   | KAR AUCTION SVCS INC 5.125% 06/01/2025 144A                                                   | CUSIP: 48238TAA7<br>LEI: 5493004HKD20LBSG7D03 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17499.99     | 0.20%             | 2025-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG'06 PTY LTD                                           | FMG RES AUGUST 2006 PTY LTD 6.125% 04/15/2032 144A                                            | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     60000 | PA      | $54894.00     | 0.62%             | 2032-04-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                                       | STONEX GROUP INC 8.625% 06/15/2025 144A                                                       | CUSIP: 46116VAE5<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25343.75     | 0.28%             | 2025-06-15      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| TEGNA INC                                                              | TEGNA INC 4.75% 03/15/2026 144A                                                               | CUSIP: 87901JAF2<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29323.36     | 0.33%             | 2026-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                  | TENET HEALTHCARE CORP 6.125% 10/01/2028 144A                                                  | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    160000 | PA      | $141200.00    | 1.59%             | 2028-10-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANSN and INFRASTRUCTURE INVS LLC                            | FORTRESS TRANSN and INFRASTRUCTURE INVS LLC 5.5% 05/01/2028 144A                              | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     40000 | PA      | $34801.20     | 0.39%             | 2028-05-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DUN and BRADSTREET CORP/THE                                            | DUN and BRADSTREET CORP/THE 5% 12/15/2029 144A                                                | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43017.50     | 0.48%             | 2029-12-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| PEDIATRIX MEDICAL GROUP INC                                            | PEDIATRIX MEDICAL GROUP INC 5.375% 02/15/2030 144A                                            | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $54847.65     | 0.62%             | 2030-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| STONEMOR INC                                                           | STONEMOR INC 8.5% 05/15/2029 144A                                                             | CUSIP: 86184WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $24375.00     | 0.27%             | 2029-05-15      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                                   | NEPTUNE BIDCO US INC 9.29% 04/15/2029 144A                                                    | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19260.60     | 0.22%             | 2029-04-15      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                                       | BERRY GLOBAL INC 5.625% 07/15/2027 144A                                                       | CUSIP: 085770AB1<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117600.00    | 1.32%             | 2027-07-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ECO MATERIAL TECHNOLOGIES INC                                          | ECO MATERIAL TECHNOLOGIES INC 7.875% 01/31/2027 144A                                          | CUSIP: 27900QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9510.00      | 0.11%             | 2027-01-31      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                               | EQT CORPORATION                                                                               | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |       230 | NS      | $9754.30      | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| OAK STREET HEALTH INC                                                  | OAK STREET HEALTH INC CONV 0% 03/15/2026                                                      | CUSIP: 67181AAB3<br>LEI: 2549007CJE6GSEURLA30 | Long             | DBT              | CORP              | US        |      8000 | PA      | $6138.02      | 0.07%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                                                    | COINBASE GLOBAL INC 3.375% 10/01/2028 144A                                                    | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |     30000 | PA      | $17534.40     | 0.20%             | 2028-10-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| NUFARM AUSTRALIA LTD / NUFARM AMERICAS INC                             | NUFARM AUSTRALIA LTD / NUFARM AMERICAS INC 5% 01/27/2030 144A                                 | CUSIP: 67052NAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |     45000 | PA      | $38531.25     | 0.43%             | 2030-01-27      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                                     | CNX RESOURCES CORP 6% 01/15/2029 144A                                                         | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     40000 | PA      | $37809.20     | 0.42%             | 2029-01-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                                          | METHANEX CORP 5.125% 10/15/2027                                                               | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $64225.00     | 0.72%             | 2027-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TALLGRASS ENERGY PARTNERS LP / TALLGRASS ENERGY FINANCE CORP           | TALLGRASS ENERGY PARTNERS LP / TALLGRASS ENERGY FINANCE CORP 6% 03/01/2027 144A               | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $23765.88     | 0.27%             | 2027-03-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ALTUS MIDSTREAM LP                                                     | ALTUS MIDSTREAM LP 5.875% 06/15/2030 144A                                                     | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42286.95     | 0.47%             | 2030-06-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                         | BOMBARDIER INC 6% 02/15/2028 144A                                                             | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $98457.45     | 1.11%             | 2028-02-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC                                                       | RADIAN GROUP INC 6.625% 03/15/2025                                                            | CUSIP: 750236AX9<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29703.60     | 0.33%             | 2025-03-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| DOMTAR CORP                                                            | DOMTAR CORP 6.75% 10/01/2028 144A                                                             | CUSIP: 70478JAA2<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26145.30     | 0.29%             | 2028-10-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                   | ONEMAIN FINANCE CORP 3.875% 09/15/2028                                                        | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    180000 | PA      | $142812.00    | 1.60%             | 2028-09-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR SA                                              | MILLICOM INTL CELLULAR SA 4.5% 04/27/2031 144A                                                | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |     40000 | PA      | $32715.00     | 0.37%             | 2031-04-27      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD/MAURITIUS                                                | HTA GROUP LTD/MAURITIUS 7% 12/18/2025 144A                                                    | CUSIP: 40435WAB6<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |     30000 | PA      | $27601.80     | 0.31%             | 2025-12-18      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSONS INC / ALBERTSONS LLC | ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSONS INC / ALBERTSONS LLC 3.25% 03/15/2026 144A  | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $45393.00     | 0.51%             | 2026-03-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICES INC                                          | BRAND ENERGY TERM B 1LN 06/21/2024                                                            | CUSIP: 10524MAN7<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |       992 | PA      | $872.73       | 0.01%             | 2024-06-21      | Variable      | 0.08%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORPORATION                                                    | SEASPAN CORPORATION 5.5% 08/01/2029 144A                                                      | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |     40000 | PA      | $30794.40     | 0.35%             | 2029-08-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                           | BROADCOM INC 2.6% 02/15/2033 144A                                                             | CUSIP: 11135FBF7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     35000 | PA      | $26446.37     | 0.30%             | 2033-02-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MERCER INTERNATIONAL INC                                               | MERCER INTERNATIONAL INC 5.125% 02/01/2029                                                    | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |     70000 | PA      | $60095.00     | 0.68%             | 2029-02-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BLACK KNIGHT INFOSERV LLC                                              | BLACK KNIGHT INFOSERV LLC 3.625% 09/01/2028 144A                                              | CUSIP: 092174AA9<br>LEI: 549300H5PS5C68DAUX66 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26962.50     | 0.30%             | 2028-09-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| RENT-A-CENTER INC/TX                                                   | RENT-A-CENTER INC/TX 6.375% 02/15/2029 144A                                                   | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41125.00     | 0.46%             | 2029-02-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                                                         | STERICYCLE INC 5.375% 07/15/2024 144A                                                         | CUSIP: 858912AF5<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69188.00     | 0.78%             | 2024-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HORIZON THERAPEUTICS USA INC                                           | HORIZON THERAPEUTICS USA INC 5.5% 08/01/2027 144A                                             | CUSIP: 44055PAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29775.00     | 0.33%             | 2027-08-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                                                    | NOVA CHEMICALS CORP 4.25% 05/15/2029 144A                                                     | CUSIP: 66977WAS8<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     30000 | PA      | $25012.50     | 0.28%             | 2029-05-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSONS INC / ALBERTSONS LLC | ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSONS INC / ALBERTSONS LLC 4.875% 02/15/2030 144A | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $22306.00     | 0.25%             | 2030-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SUNNOVA ENERGY CORP                                                    | SUNNOVA ENERGY CORP 5.875% 09/01/2026 144A                                                    | CUSIP: 86745GAF0<br>LEI: 549300TH3GCD8YQUDR46 | Long             | DBT              | CORP              | US        |     80000 | PA      | $71576.80     | 0.80%             | 2026-09-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| REDFIN CORPORATION                                                     | REDFIN CORP CONV 0.5% 04/01/2027                                                              | CUSIP: 75737FAE8<br>LEI: 549300HXWD3JEMZU3O57 | Long             | DBT              | CORP              | US        |     61000 | PA      | $25010.00     | 0.28%             | 2027-04-01      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                                                        | HANESBRANDS INC 4.625% 05/15/2024 144A                                                        | CUSIP: 410345AJ1<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |     45000 | PA      | $43650.00     | 0.49%             | 2024-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                                      | DISH NETWORK CORP 11.75% 11/15/2027 144A                                                      | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20556.60     | 0.23%             | 2027-11-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPERATING CO LLC / GD FINANCE CO INC                          | GO DADDY OPERATING CO LLC / GD FINANCE CO INC 3.5% 03/01/2029 144A                            | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $135212.58    | 1.52%             | 2029-03-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                                             | CARVANA CO 4.875% 09/01/2029 144A                                                             | CUSIP: 146869AH5<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    125000 | PA      | $41771.15     | 0.47%             | 2029-09-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALTICE FING SA                                                         | ALTICE FING SA 5.75% 08/15/2029 144A                                                          | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |     90000 | PA      | $73598.40     | 0.83%             | 2029-08-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CHS/CMNTY HEALTH SYSTEMS INC                                           | CHS/CMNTY HEALTH SYSTEMS INC 5.25% 05/15/2030 144A                                            | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     70000 | PA      | $53382.00     | 0.60%             | 2030-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| RIVIAN HOLDCO and RIVIAN LLC and RIVIAN AUTOMOTIVE LLC                 | RIVIAN HOLDCO and RIVIAN LLC and RIVIAN AUTOMOTIVE LLC FRN 6ML+562.5 10/15/2026 144A          | CUSIP: 76954LAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $67550.00     | 0.76%             | 2026-10-15      | Variable      | 0.10%                 | No            |                  2 | On Loan: No      |
| IAMGOLD CORP                                                           | IAMGOLD CORP 5.75% 10/15/2028 144A                                                            | CUSIP: 450913AF5<br>LEI: 5493003RWIRGFJUNQG48 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $27972.00     | 0.31%             | 2028-10-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                                                | DARLING INGREDIENTS INC 6% 06/15/2030 144A                                                    | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4875.95      | 0.05%             | 2030-06-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                  | LEVEL 3 FINANCING INC 3.75% 07/15/2029 144A                                                   | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    180000 | PA      | $130171.36    | 1.46%             | 2029-07-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| AT HOME GROUP INC                                                      | AT HOME GROUP INC 4.875% 07/15/2028 144A                                                      | CUSIP: 04650YAA8<br>LEI: 549300LGPR0P05O30I24 | Long             | DBT              | CORP              | US        |     30000 | PA      | $21825.00     | 0.25%             | 2028-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD                                            | ROYAL CARIBBEAN CRUISES LTD 5.5% 04/01/2028 144A                                              | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     95000 | PA      | $77543.75     | 0.87%             | 2028-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CCO HLDGS CAP CORP                                       | CCO HLDGS LLC/CAP CORP 4.75% 02/01/2032 144A                                                  | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $209062.50    | 2.35%             | 2032-02-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| COVANTA HLDG CORP                                                      | COVANTA HLDG CORP 4.875% 12/01/2029 144A                                                      | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    121000 | PA      | $102245.00    | 1.15%             | 2029-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                                          | NORDSTROM INC 4.375% 04/01/2030                                                               | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20073.63     | 0.23%             | 2030-04-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WATER US HOLDING CORPORATION                                   | OLYMPUS WATER US HOLDING CORPORATION 6.25% 10/01/2029 144A                                    | CUSIP: 681639AB6<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |     60000 | PA      | $43292.40     | 0.49%             | 2029-10-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| HOLLY EN PART LP/ HOL FIN CORP                                         | HOLLY EN PART LP/ HOL FIN CORP 5% 02/01/2028 144A                                             | CUSIP: 435765AH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $36446.49     | 0.41%             | 2028-02-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HLF FING SARL LLC / HERBALIFE INTL INC                                 | HLF FING SARL LLC / HERBALIFE INTL INC 4.875% 06/01/2029 144A                                 | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $3573.35      | 0.04%             | 2029-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP                                                             | HERTZ CORP 4.625% 12/01/2026 144A                                                             | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43373.57     | 0.49%             | 2026-12-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CGG SA                                                                 | CGG SA 8.75% 04/01/2027 144A                                                                  | CUSIP: 12531TAF6<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |     67000 | PA      | $56350.69     | 0.63%             | 2027-04-01      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| AECOM                                                                  | AECOM 5.125% 03/15/2027                                                                       | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48644.00     | 0.55%             | 2027-03-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTL LTD                                                   | WEATHERFORD INTL LTD 8.625% 04/30/2030 144A                                                   | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     30000 | PA      | $28770.00     | 0.32%             | 2030-04-30      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                                  | UBER TECHNOLOGIES INC 4.5% 08/15/2029 144A                                                    | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    233000 | PA      | $202832.33    | 2.28%             | 2029-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TRITON WATER HOLDINGS                                                  | TRITON WATER HOLDINGS 6.25% 04/01/2029 144A                                                   | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |     45000 | PA      | $35022.83     | 0.39%             | 2029-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| HIGHTOWER HOLDING LLC                                                  | HIGHTOWER HOLDING LLC 6.75% 04/15/2029 144A                                                   | CUSIP: 43118DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $33178.20     | 0.37%             | 2029-04-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                               | ALTICE FRANCE HOLDING SA 6% 02/15/2028 144A                                                   | CUSIP: 02156TAA2<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    120000 | PA      | $80550.00     | 0.90%             | 2028-02-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MIDSTREAM PARTNERS LP/CRESTWOOD MIDSTREAM FIN CORP           | CRESTWOOD MIDSTRM PTN/FIN CORP 6% 02/01/2029 144A                                             | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $73800.00     | 0.83%             | 2029-02-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATING LLC                                          | TERRAFORM POWER OPERATING LLC 4.75% 01/15/2030 144A                                           | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27000.00     | 0.30%             | 2030-01-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC / TEMPO ACQUISITION FIN CORP                     | TEMPO ACQUISITION LLC / TEMPO ACQUISITION FIN CORP 5.75% 06/01/2025 144A                      | CUSIP: 88023JAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29620.65     | 0.33%             | 2025-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                                                | SENSATA TECHNOLOGIES BV 4% 04/15/2029 144A                                                    | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |     30000 | PA      | $26088.90     | 0.29%             | 2029-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                                                    | NOVA CHEMICALS CORP 4.875% 06/01/2024 144A                                                    | CUSIP: 66977WAQ2<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19462.50     | 0.22%             | 2024-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT HOLDINGS INC                                                 | OPEN TEXT HOLDINGS INC 4.125% 02/15/2030 144A                                                 | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $8097.90      | 0.09%             | 2030-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                                      | DISH NETWORK CORP CONV 3.375% 08/15/2026                                                      | CUSIP: 25470MAB5<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    120000 | PA      | $77700.00     | 0.87%             | 2026-08-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC                               | ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC 4.125% 06/15/2028 144A                               | CUSIP: 04916WAA2<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |    105000 | PA      | $92560.14     | 1.04%             | 2028-06-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                  | TENET HEALTHCARE CORP 6.125% 06/15/2030 144A                                                  | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14213.70     | 0.16%             | 2030-06-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ELASTIC NV                                                             | ELASTIC NV 4.125% 07/15/2029 144A                                                             | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    110000 | PA      | $89422.47     | 1.00%             | 2029-07-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                  | TENET HEALTHCARE CORP 4.375% 01/15/2030 144A                                                  | CUSIP: 88033GDN7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26132.10     | 0.29%             | 2030-01-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV LLC                                             | MAJORDRIVE HOLDINGS IV LLC 6.375% 06/01/2029 144A                                             | CUSIP: 56085RAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $27300.00     | 0.31%             | 2029-06-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION INC                                           | ADTALEM GLOBAL EDUCATION INC 5.5% 03/01/2028 144A                                             | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |     37000 | PA      | $34410.00     | 0.39%             | 2028-03-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                                          | COHERENT CORP 5% 12/15/2029 144A                                                              | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |     35000 | PA      | $30887.50     | 0.35%             | 2029-12-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/ WYNN LAS V                                         | WYNN LAS VEGAS LLC/ WYNN LAS V 5.25% 05/15/2027 144A                                          | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $109932.00    | 1.23%             | 2027-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DENBURY INC                                                            | DENBURY INC                                                                                   | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |       150 | NS      | $13464.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| INFRABUILD AUSTRALIA PTY LTD                                           | INFRABUILD AUSTRALIA PTY LTD 12% 10/01/2024 144A                                              | CUSIP: 45682RAA8<br>LEI: 549300W2CPB5W6GFH859 | Long             | DBT              | CORP              | AU        |     50000 | PA      | $48548.25     | 0.55%             | 2024-10-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                                       | HEALTHEQUITY INC 4.5% 10/01/2029 144A                                                         | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |     70000 | PA      | $61327.00     | 0.69%             | 2029-10-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                                     | RITHM CAPITAL CORP 6.25% 10/15/2025 144A                                                      | CUSIP: 64828TAA0<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27085.47     | 0.30%             | 2025-10-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                                                    | COINBASE GLOBAL INC 3.625% 10/01/2031 144A                                                    | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |     20000 | PA      | $10800.00     | 0.12%             | 2031-10-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| NCR CORPORATION NEW                                                    | NCR CORPORATION NEW 6.125% 09/01/2029 144A                                                    | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     52500 | PA      | $50925.00     | 0.57%             | 2029-09-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ELDORADO GOLD CORP NEW                                                 | ELDORADO GOLD CORP NEW 6.25% 09/01/2029 144A                                                  | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |     35000 | PA      | $29093.75     | 0.33%             | 2029-09-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION MERGER SUB INC                                           | CONSTELLATION MERGER SUB INC 8.5% 09/15/2025 144A                                             | CUSIP: 210374AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $22029.05     | 0.25%             | 2025-09-15      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                        | GEN DIGITAL INC 5% 04/15/2025 144A                                                            | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53350.00     | 0.60%             | 2025-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                                  | UBER TECHNOLOGIES INC 8% 11/01/2026 144A                                                      | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20227.69     | 0.23%             | 2026-11-01      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTERNATIONAL INC                                          | OCEANEERING INTERNATIONAL INC 6% 02/01/2028                                                   | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45297.25     | 0.51%             | 2028-02-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| BATH and BODY WORKS INC                                                | BATH and BODY WORKS INC 6.95% 03/01/2033                                                      | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26018.61     | 0.29%             | 2033-03-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                      | POST HLDGS INC 4.5% 09/15/2031 144A                                                           | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25566.60     | 0.29%             | 2031-09-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS L P / ARCHROCK PARTNERS FIN CORP                     | ARCHROCK PARTNERS LP / FIN CORP 6.25% 04/01/2028 144A                                         | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $27825.00     | 0.31%             | 2028-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                                                  | ON SEMICONDUCTOR CORP 3.875% 09/01/2028 144A                                                  | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44334.50     | 0.50%             | 2028-09-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| VM CONSOLIDATED INC                                                    | VM CONSOLIDATED INC 5.5% 04/15/2029 144A                                                      | CUSIP: 91835HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $96787.53     | 1.09%             | 2029-04-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| MEG ENERGY CORP                                                        | MEG ENERGY CORP 5.875% 02/01/2029 144A                                                        | CUSIP: 552704AF5<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $94900.00     | 1.07%             | 2029-02-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| PG and E CORP                                                          | PG and E CORP 5% 07/01/2028                                                                   | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32291.35     | 0.36%             | 2028-07-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MACYS RETAIL HOLDINGS LLC                                              | MACYS RETAIL HOLDINGS LLC 5.875% 04/01/2029 144A                                              | CUSIP: 55617LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14882.40     | 0.17%             | 2029-04-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS HOLDINGS LLC                                   | FRONTIER COMMUNICATIONS HOLDINGS LLC 8.75% 05/15/2030 144A                                    | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25862.50     | 0.29%             | 2030-05-15      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| 1011778 B C UNLIMITED LIABILITY CO / NEW RED FIN INC                   | 1011778 BC ULC/NEW RED FIN INC 3.5% 02/15/2029 144A                                           | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     40000 | PA      | $34105.71     | 0.38%             | 2029-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| REALOGY GROUP LLC / REALOGY CO-ISSUER CORP                             | REALOGY GROUP LLC / REALOGY CO-ISSUER CORP 5.25% 04/15/2030 144A                              | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $25725.00     | 0.29%             | 2030-04-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                            | CHEMOURS CO 4.625% 11/15/2029 144A                                                            | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    165000 | PA      | $132825.00    | 1.49%             | 2029-11-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                                           | Fidelity Cash Central Fund                                                                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |     14933 | NS      | $14936.03     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                                                             | DAVITA INC 3.75% 02/15/2031 144A                                                              | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     75000 | PA      | $55125.00     | 0.62%             | 2031-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| COEUR MINING INC                                                       | COEUR MINING INC 5.125% 02/15/2029 144A                                                       | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |     30000 | PA      | $23361.90     | 0.26%             | 2029-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| VICTORIA'S SECRET and CO                                               | VICTORIA'S SECRET and CO 4.625% 07/15/2029 144A                                               | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25320.00     | 0.28%             | 2029-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICES INC                                          | BRAND INDUSTRIAL SERVICES INC 8.5% 07/15/2025 144A                                            | CUSIP: 10524PAB6<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |     55000 | PA      | $43517.65     | 0.49%             | 2025-07-15      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                                              | CROCS INC 4.125% 08/15/2031 144A                                                              | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     70000 | PA      | $55934.20     | 0.63%             | 2031-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CANO HEALTH LLC                                                        | CANO HEALTH LLC 6.25% 10/01/2028 144A                                                         | CUSIP: 13782CAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $45450.00     | 0.51%             | 2028-10-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION HOLDINGS INC                                    | CLYDESDALE ACQUISITION HOLDINGS INC 6.625% 04/15/2029 144A                                    | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38538.38     | 0.43%             | 2029-04-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                       | ALTICE FRANCE SA 5.125% 07/15/2029 144A                                                       | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     35000 | PA      | $27150.55     | 0.30%             | 2029-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORPORATION                                                  | OPEN TEXT CORPORATION 3.875% 12/01/2029 144A                                                  | CUSIP: 683715AD8<br>LEI: 549300UQROQS42RKHM85 | Long             | DBT              | CORP              | CA        |     55000 | PA      | $43908.35     | 0.49%             | 2029-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                                               | VIRGIN MEDIA FINANCE PLC 5% 07/15/2030 144A                                                   | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |     30000 | PA      | $24457.34     | 0.27%             | 2030-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                                         | CVR ENERGY INC 5.25% 02/15/2025 144A                                                          | CUSIP: 12662PAB4<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    131000 | PA      | $125566.12    | 1.41%             | 2025-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| SYNEOS HEALTH INC                                                      | SYNEOS HEALTH INC 3.625% 01/15/2029 144A                                                      | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |     50000 | PA      | $39531.00     | 0.44%             | 2029-01-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                                  | MINERAL RES LTD 8.5% 05/01/2030 144A                                                          | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     75000 | PA      | $76006.11     | 0.85%             | 2030-05-01      | Fixed         | 0.09%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN GUARDIAN LTD                                                | TRANSOCEAN GUARDIAN LTD 5.875% 01/15/2024 144A                                                | CUSIP: 893800AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     46138 | PA      | $44942.11     | 0.50%             | 2024-01-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT HOLDINGS INC                                                 | OPEN TEXT HOLDINGS INC 4.125% 12/01/2031 144A                                                 | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3000 | PA      | $2328.30      | 0.03%             | 2031-12-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| AKUMIN ESCROW INC                                                      | AKUMIN ESCROW INC 7.5% 08/01/2028 144A                                                        | CUSIP: 01021FAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     30000 | PA      | $20475.00     | 0.23%             | 2028-08-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                   | LIFEPOINT HEALTH INC 5.375% 01/15/2029 144A                                                   | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $29331.50     | 0.33%             | 2029-01-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CCO HLDGS CAP CORP                                       | CCO HLDGS LLC/CAP CORP 4.25% 01/15/2034 144A                                                  | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $38950.00     | 0.44%             | 2034-01-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                                   | HOWMET AEROSPACE INC 3% 01/15/2029                                                            | CUSIP: 443201AB4<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25353.00     | 0.28%             | 2029-01-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| YUM BRANDS INC                                                         | YUM BRANDS INC 4.625% 01/31/2032                                                              | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    130000 | PA      | $114390.07    | 1.28%             | 2032-01-31      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC / DIRECTV FINANCING CO-OBLIGOR INC               | DIRECTV FINANCING LLC / CO-OBLIGOR INC 5.875% 08/15/2027 144A                                 | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $45879.00     | 0.52%             | 2027-08-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CORPORATION                                       | CALIFORNIA RES CORP 7.125% 02/01/2026 144A                                                    | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97250.00     | 1.09%             | 2026-02-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| ATKORE INC                                                             | ATKORE INC 4.25% 06/01/2031 144A                                                              | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25275.00     | 0.28%             | 2031-06-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                                             | TWILIO INC 3.625% 03/15/2029                                                                  | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     70000 | PA      | $57750.00     | 0.65%             | 2029-03-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HOLDINGS II LLC                                            | MATCH GROUP HLD II LLC 4.625% 06/01/2028 144A                                                 | CUSIP: 57665RAN6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $44719.97     | 0.50%             | 2028-06-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                                                | NEW FORTRESS ENERGY INC 6.75% 09/15/2025 144A                                                 | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4883.65      | 0.05%             | 2025-09-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                                     | HOWARD HUGHES CORP 4.375% 02/01/2031 144A                                                     | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     65000 | PA      | $53381.25     | 0.60%             | 2031-02-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| CROWN AMERS LLC / CROWN AMERS CAP CORP VI                              | CROWN AMERS LLC / CROWN AMERS CAP CORP VI 4.75% 02/01/2026                                    | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48420.50     | 0.54%             | 2026-02-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| MCLAREN FINANCE PLC                                                    | MCLAREN FINANCE PLC 7.5% 08/01/2026 144A                                                      | CUSIP: 58175LAA8<br>LEI: 213800BKPDWMWX3GSG36 | Long             | DBT              | CORP              | GB        |     25000 | PA      | $20207.50     | 0.23%             | 2026-08-01      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN SENTRY LTD                                                  | TRANSOCEAN SENTRY LTD 5.375% 05/15/2023 144A                                                  | CUSIP: 89385AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     29769 | PA      | $29480.50     | 0.33%             | 2023-05-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                          | DISH DBS CORP 5.75% 12/01/2028 144A                                                           | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4055.25      | 0.05%             | 2028-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                                                | SBA COMMUNICATIONS CORP 3.125% 02/01/2029                                                     | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |     60000 | PA      | $50091.41     | 0.56%             | 2029-02-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS INC                                               | NORTHERN OIL AND GAS INC 8.125% 03/01/2028 144A                                               | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29291.70     | 0.33%             | 2028-03-01      | Fixed         | 0.08%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HLDGS INC                                                   | ZAYO GROUP HLDGS INC 6.125% 03/01/2028 144A                                                   | CUSIP: 98919VAB1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |     55000 | PA      | $29837.50     | 0.34%             | 2028-03-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| TREEHOUSE FOODS INC                                                    | TREEHOUSE FOODS INC 4% 09/01/2028                                                             | CUSIP: 89469AAD6<br>LEI: 5493007M7EVHE470Q576 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25559.10     | 0.29%             | 2028-09-01      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATING CO INC                                       | HILTON DOMESTIC OPERATING CO INC 3.625% 02/15/2032 144A                                       | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82331.00     | 0.92%             | 2032-02-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSHIP LP / MPT FIN CORP                                 | MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029                                                | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $7864.80      | 0.09%             | 2029-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                     | ALLY FINANCIAL 4.7/VAR INC PERP                                                               | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EP               | CORP              | US        |     80000 | PA      | $57950.00     | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| ATI INC                                                                | ATI INC 4.875% 10/01/2029                                                                     | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42621.45     | 0.48%             | 2029-10-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                                          | METHANEX CORP 5.65% 12/01/2044                                                                | CUSIP: 59151KAJ7<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $56250.00     | 0.63%             | 2044-12-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMMUNITIES INC                                        | TAYLOR MORRISON COMMUNITIES INC 5.125% 08/01/2030 144A                                        | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43649.00     | 0.49%             | 2030-08-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC            | UNITI GRP/UNITI HLD/CSL 6% 01/15/2030 144A                                                    | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $93800.20     | 1.05%             | 2030-01-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| GEMS MENASA KY LTD/GEMS                                                | GEMS MENASA KY LTD/GEMS 7.125% 07/31/2026 144A                                                | CUSIP: 36166LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | AE        |     25000 | PA      | $23770.31     | 0.27%             | 2026-07-31      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| UPC BROADBAND FINCO BV                                                 | UPC BROADBAND FINCO BV 4.875% 07/15/2031 144A                                                 | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |     30000 | PA      | $25279.05     | 0.28%             | 2031-07-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| EMERGENT BIOSOLUTIONS INC                                              | EMERGENT BIOSOLUTIONS INC 3.875% 08/15/2028 144A                                              | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |     35000 | PA      | $15750.00     | 0.18%             | 2028-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ENVIVA PARTNERS LP / ENVIVA PARTNERS FINANCE CORP                      | ENVIVA PARTNERS LP / ENVIVA PARTNERS FINANCE CORP 6.5% 01/15/2026 144A                        | CUSIP: 29413XAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $19068.02     | 0.21%             | 2026-01-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSHIP LP / MPT FIN CORP                                 | MPT OPER PARTNERSHIP LP/CORP 5% 10/15/2027                                                    | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $162222.00    | 1.82%             | 2027-10-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                                                  | ENCOMPASS HEALTH CORP 4.625% 04/01/2031                                                       | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25890.75     | 0.29%             | 2031-04-01      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                                                 | ATHENAHEALTH GROUP INC 6.5% 02/15/2030 144A                                                   | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |     30000 | PA      | $22467.06     | 0.25%             | 2030-02-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| GLOBAL PARTNERS LP / GLP FIN CORP                                      | GLOBAL PARTNERS LP / GLP FIN CORP 6.875% 01/15/2029                                           | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $31780.00     | 0.36%             | 2029-01-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |
| CHS/CMNTY HEALTH SYSTEMS INC                                           | CHS/CMNTY HEALTH SYSTEMS INC 4.75% 02/15/2031 144A                                            | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     89000 | PA      | $65209.41     | 0.73%             | 2031-02-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                                    | LBM ACQUISITION LLC 6.25% 01/15/2029 144A                                                     | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |     40000 | PA      | $27552.56     | 0.31%             | 2029-01-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                                                | NEW FORTRESS ENERGY INC                                                                       | CUSIP: 644393100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       400 | NS      | $20360.00     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CORNERSTONE BUILDING BRANDS INC                                        | CORNERSTONE BUILDING BRANDS INC 6.125% 01/15/2029 144A                                        | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |     40000 | PA      | $26986.00     | 0.30%             | 2029-01-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| TERRAFORM GLOBAL OPERATING                                             | TERRAFORM GLOBAL OPERATING 6.125% 03/01/2026 144A                                             | CUSIP: 88104UAC7<br>LEI: 549300LC7QMVR79H5O86 | Long             | DBT              | CORP              | US        |    140000 | PA      | $131002.20    | 1.47%             | 2026-03-01      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| APX GROUP INC                                                          | APX GROUP INC 5.75% 07/15/2029 144A                                                           | CUSIP: 00213MAW4<br>LEI: 549300OMQVKPRU98OE64 | Long             | DBT              | CORP              | US        |     40000 | PA      | $34052.40     | 0.38%             | 2029-07-15      | Fixed         | 0.06%                 | No            |                  2 | On Loan: No      |
| DRAFTKINGS INC/NEVADA                                                  | DRAFTKINGS INC/NEVADA CONV 0% 03/15/2028                                                      | CUSIP: 26142RAB0<br>LEI: 5493008P45UYYL683Z97 | Long             | DBT              | CORP              | US        |     14000 | PA      | $8932.00      | 0.10%             | 2028-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                           | SM ENERGY CO 6.5% 07/15/2028                                                                  | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29025.00     | 0.33%             | 2028-07-15      | Fixed         | 0.07%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer