# EDGAR Filing Document

**Accession Number:** 0001174610
**File Stem:** 0001752724-23-011596
**Filing Date:** 2023-1
**Character Count:** 92197
**Document Hash:** 4a46ef298b732a99f81017ffa34beff1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-011596.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-011596

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROSHARES TRUST
- **CENTRAL INDEX KEY:** 0001174610
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21114
- **FILM NUMBER:** 23550607

**BUSINESS ADDRESS:**
- **STREET 1:** 7272 WISCONSIN AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 240-497-6400

**MAIL ADDRESS:**
- **STREET 1:** 7272 WISCONSIN AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** XTRASHARES TRUST
- **DATE OF NAME CHANGE:** 20030409

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PROFUNDS ETF TRUST
- **DATE OF NAME CHANGE:** 20020531

## Series and Classes Contracts Data

### ProShares High Yield-Interest Rate Hedged (Series ID: S000039732)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000123089 | ProShares High Yield-Interest Rate Hedged | HYHG            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ProShares Trust

- **b. Investment Company Act file number:** 811-21114

- **c. CIK number of Registrant:** 0001174610

- **d. LEI of Registrant:** 5493005D9DS7C1P5AM59

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

  - **Street Address 1:** 7272 Wisconsin Avenue

  - **City:** Bethesda

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20814

  - **Telephone number:** 240-497-6400

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

- **a. Name of Series:** ProShares High Yield-Interest Rate Hedged

- **b. EDGAR series identifier (if any):** S000039732

- **c. LEI of Series:** 549300FV6XUZGOJNSR91

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

- **a. Date of fiscal year-end:** 2023-05-31

- **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:** $125767449.33

**Total Liabilities:** $2613446.60

**Net Assets:** $123154002.73

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 373.11001900 | **10-Year:** 175.87690800 | **30-Year:** 0.00000000

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

- **3-Month:** 16.93426600 | **1-Year:** 3965.01337700 | **5-Year:** 26362.84390100 | **10-Year:** 13005.76581600 | **30-Year:** 156.46626700

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000123089 | -0.64%               | 4.22%                | -0.41%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-819934.69              | $-5125757.15                               |
| Month 2  | $-974139.51              | $4288275.97                                |
| Month 3  | $-167138.46              | $1076236.48                                |

**Designated Index Information**

- **Index Name:** FTSE High Yield (Treasury Rate-Hedged) Index

- **Index Identifier:** CFIIHYHG

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Clydesdale Acquisition Holdings, Inc.                    | Clydesdale Acquisition Holdings, Inc.                    | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    457000 | PA      | $410843.00    | 0.33%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                | Standard Industries, Inc.                                | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    281000 | PA      | $230420.00    | 0.19%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                      | Nexstar Media, Inc.                                      | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    503000 | PA      | $472567.32    | 0.38%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                             | Trivium Packaging Finance BV                             | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    467000 | PA      | $436627.40    | 0.35%             | 2026-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CITGO Petroleum Corp.                                    | CITGO Petroleum Corp.                                    | CUSIP: 17302XAK2<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    428000 | PA      | $420781.78    | 0.34%             | 2025-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc.                                           | PetSmart, Inc.                                           | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1128000 | PA      | $1030574.64   | 0.84%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                | Ford Motor Credit Co. LLC                                | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    873000 | PA      | $805455.99    | 0.65%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                | Vistra Operations Co. LLC                                | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    625000 | PA      | $604171.83    | 0.49%             | 2027-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                | EQM Midstream Partners LP                                | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    407000 | PA      | $342622.96    | 0.28%             | 2031-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                    | Albertsons Cos., Inc.                                    | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    914000 | PA      | $761382.57    | 0.62%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                        | Venture Global Calcasieu Pass LLC                        | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    249000 | PA      | $202498.01    | 0.16%             | 2033-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                               | Allison Transmission, Inc.                               | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    451000 | PA      | $375851.22    | 0.31%             | 2031-01-30      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                      | Iron Mountain, Inc.                                      | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    948000 | PA      | $793665.60    | 0.64%             | 2031-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                    | Albertsons Cos., Inc.                                    | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $193093.01    | 0.16%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ITT Holdings LLC                                         | ITT Holdings LLC                                         | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    509000 | PA      | $435628.48    | 0.35%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Lions Gate Capital Holdings LLC                          | Lions Gate Capital Holdings LLC                          | CUSIP: 53627NAE1<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |    498000 | PA      | $323700.00    | 0.26%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group Holdings, Inc.                      | Cloud Software Group Holdings, Inc.                      | CUSIP: 88632QAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $431953.17    | 0.35%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                   | Aramark Services, Inc.                                   | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    942000 | PA      | $879950.46    | 0.71%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                           | DISH DBS Corp.                                           | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1944000 | PA      | $1653615.00   | 1.34%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                            | Smyrna Ready Mix Concrete LLC                            | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    425000 | PA      | $378250.00    | 0.31%             | 2028-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Mohegan Gaming & Entertainment                           | Mohegan Gaming & Entertainment                           | CUSIP: 608328BH2<br>LEI: 549300UB083Z2NRDHC48 | Long             | DBT              | CORP              | US        |    463000 | PA      | $429432.50    | 0.35%             | 2026-02-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Matador Resources Co.                                    | Matador Resources Co.                                    | CUSIP: 576485AE6<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    381000 | PA      | $373336.53    | 0.30%             | 2026-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    226000 | PA      | $220287.17    | 0.18%             | 2027-06-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    916000 | PA      | $785971.42    | 0.64%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $383750.00    | 0.31%             | 2028-09-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                        | Hertz Corp. (The)                                        | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    468000 | PA      | $371395.44    | 0.30%             | 2029-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Vericast Corp.                                           | Vericast Corp.                                           | CUSIP: 92348BAA1<br>LEI: 549300J73P7FL8TVF308 | Long             | DBT              | CORP              | US        |    522000 | PA      | $538965.00    | 0.44%             | 2026-09-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Tullow Oil plc                                           | Tullow Oil plc                                           | CUSIP: 899415AG8<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | CORP              | GB        |    660000 | PA      | $565837.80    | 0.46%             | 2026-05-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                     | Clear Channel Outdoor Holdings, Inc.                     | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    775000 | PA      | $667862.91    | 0.54%             | 2027-08-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Live Nation Entertainment, Inc.                          | Live Nation Entertainment, Inc.                          | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    470000 | PA      | $470947.04    | 0.38%             | 2027-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator US Newco, Inc.                               | TK Elevator US Newco, Inc.                               | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    674000 | PA      | $608285.00    | 0.49%             | 2027-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| RegionalCare Hospital Partners Holdings, Inc.            | RegionalCare Hospital Partners Holdings, Inc.            | CUSIP: 53219LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    548000 | PA      | $436432.68    | 0.35%             | 2026-12-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                      | Hilton Domestic Operating Co., Inc.                      | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    293000 | PA      | $245933.05    | 0.20%             | 2031-05-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1174000 | PA      | $974420.00    | 0.79%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    629000 | PA      | $505649.96    | 0.41%             | 2032-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| NCR Corp.                                                | NCR Corp.                                                | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    476000 | PA      | $410531.06    | 0.33%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                          | CommScope, Inc.                                          | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    824000 | PA      | $795324.72    | 0.65%             | 2026-03-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Condor Merger Sub, Inc.                                  | Condor Merger Sub, Inc.                                  | CUSIP: 579063AB4<br>LEI: 254900SAGUYT3MBUU161 | Long             | DBT              | CORP              | US        |    858000 | PA      | $702723.79    | 0.57%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: —       |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    292000 | PA      | $304624.62    | 0.25%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                | Zayo Group Holdings, Inc.                                | CUSIP: 98919VAB1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |     38000 | PA      | $20615.00     | 0.02%             | 2028-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                   | HUB International Ltd.                                   | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    629000 | PA      | $621452.00    | 0.50%             | 2026-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    516000 | PA      | $437975.64    | 0.36%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $993029.64    | 0.81%             | 2026-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                            | Calpine Corp.                                            | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    405000 | PA      | $362652.23    | 0.29%             | 2028-03-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                              | First Quantum Minerals Ltd.                              | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1095000 | PA      | $1042873.08   | 0.85%             | 2027-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    593000 | PA      | $376055.40    | 0.31%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| UPC Broadband Finco BV                                   | UPC Broadband Finco BV                                   | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    674000 | PA      | $567935.99    | 0.46%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                  | Bath & Body Works, Inc.                                  | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    464000 | PA      | $434387.52    | 0.35%             | 2030-10-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                        | Yum! Brands, Inc.                                        | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    210000 | PA      | $175087.50    | 0.14%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CQP Holdco LP                                            | CQP Holdco LP                                            | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    587000 | PA      | $529767.50    | 0.43%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                      | Medline Borrower LP                                      | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1501000 | PA      | $1279602.50   | 1.04%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1428000 | PA      | $1159250.40   | 0.94%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp.                                 | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |     26000 | PA      | $23749.87     | 0.02%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                | Michaels Cos., Inc. (The)                                | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    901000 | PA      | $532716.25    | 0.43%             | 2029-05-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                          | TransDigm, Inc.                                          | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1507000 | PA      | $1484601.05   | 1.21%             | 2026-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Twitter, Inc.                                            | Twitter, Inc.                                            | CUSIP: 90184LAP7<br>LEI: 549300I8RX485XMK6836 | Long             | DBT              | CORP              | US        |    513000 | PA      | $510136.55    | 0.41%             | 2030-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                         | Virgin Media Secured Finance plc                         | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    423000 | PA      | $385987.50    | 0.31%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                      | U.S. Treasury 2 Year Note                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -92 | NC      | $-36812.68    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Vmed O2 UK Financing I plc                               | Vmed O2 UK Financing I plc                               | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   1112000 | PA      | $892658.00    | 0.72%             | 2031-01-31      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Select Medical Corp.                                     | Select Medical Corp.                                     | CUSIP: 816196AT6<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |    469000 | PA      | $450692.59    | 0.37%             | 2026-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                        | Genesis Energy LP                                        | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $314878.25    | 0.26%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                               | PG&E Corp.                                               | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    672000 | PA      | $608186.88    | 0.49%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                      | Kinetik Holdings LP                                      | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    410000 | PA      | $385281.10    | 0.31%             | 2030-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                     | Prime Security Services Borrower LLC                     | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    883000 | PA      | $865772.67    | 0.70%             | 2026-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| United Airlines, Inc.                                    | United Airlines, Inc.                                    | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1416000 | PA      | $1252615.83   | 1.02%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                         | Altice France SA                                         | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1223000 | PA      | $948717.79    | 0.77%             | 2029-07-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                            | Novelis Corp.                                            | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    624000 | PA      | $563025.84    | 0.46%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Fertitta Entertainment LLC                               | Fertitta Entertainment LLC                               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000 | PA      | $3512.98      | 0.00%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                               | Ball Corp.                                               | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    693000 | PA      | $554158.64    | 0.45%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                           | PetSmart, Inc.                                           | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $168350.00    | 0.14%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                             | Intelsat Jackson Holdings SA                             | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |   1000000 | PA      | $919800.00    | 0.75%             | 2030-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                  | Uber Technologies, Inc.                                  | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1078000 | PA      | $1090013.09   | 0.89%             | 2026-11-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Air Canada                                               | Air Canada                                               | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    494000 | PA      | $452016.13    | 0.37%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Imola Merger Corp.                                       | Imola Merger Corp.                                       | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    703000 | PA      | $627427.50    | 0.51%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| DT Midstream, Inc.                                       | DT Midstream, Inc.                                       | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1073000 | PA      | $922780.00    | 0.75%             | 2031-06-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                    | OneMain Finance Corp.                                    | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    804000 | PA      | $784141.20    | 0.64%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                        | Venture Global Calcasieu Pass LLC                        | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    455000 | PA      | $392437.50    | 0.32%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                    | Sirius XM Radio, Inc.                                    | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    816000 | PA      | $721180.80    | 0.59%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                      | Post Holdings, Inc.                                      | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    884000 | PA      | $746980.00    | 0.61%             | 2031-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                    | WR Grace Holdings LLC                                    | CUSIP: 92943GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    651000 | PA      | $536710.44    | 0.44%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                             | DaVita, Inc.                                             | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    687000 | PA      | $500628.54    | 0.41%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                           | US Foods, Inc.                                           | CUSIP: 90290MAC5<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    488000 | PA      | $488024.40    | 0.40%             | 2025-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GCY4<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1157755.60   | 0.94%             | 2026-01-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Endeavor Energy Resources LP                             | Endeavor Energy Resources LP                             | CUSIP: 29260FAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    504000 | PA      | $488942.87    | 0.40%             | 2028-01-30      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MSCI, Inc.                                               | MSCI, Inc.                                               | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    648000 | PA      | $562969.44    | 0.46%             | 2031-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                            | Calpine Corp.                                            | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    796000 | PA      | $727248.81    | 0.59%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Rolls-Royce plc                                          | Rolls-Royce plc                                          | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    436000 | PA      | $414827.84    | 0.34%             | 2027-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                             | Performance Food Group, Inc.                             | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    827000 | PA      | $799899.21    | 0.65%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                              | IQVIA, Inc.                                              | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    790000 | PA      | $754450.00    | 0.61%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    523904 | PA      | $523903.51    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                             | Ardagh Packaging Finance plc                             | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    579000 | PA      | $509520.00    | 0.41%             | 2026-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Realogy Group LLC                                        | Realogy Group LLC                                        | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    524000 | PA      | $384364.48    | 0.31%             | 2030-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                         | Bombardier, Inc.                                         | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1232000 | PA      | $1203762.56   | 0.98%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Finance LLC                                    | Jefferies Finance LLC                                    | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $345991.36    | 0.28%             | 2028-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                    | Avantor Funding, Inc.                                    | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    387000 | PA      | $351163.80    | 0.29%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                      | Hilton Domestic Operating Co., Inc.                      | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1024000 | PA      | $831841.28    | 0.68%             | 2032-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $1080217.92   | 0.88%             | 2027-07-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: —       |
| TransDigm, Inc.                                          | TransDigm, Inc.                                          | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1074000 | PA      | $1004190.00   | 0.82%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MSCI, Inc.                                               | MSCI, Inc.                                               | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1192090.50   | 0.97%             | 2029-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                    | Directv Financing LLC                                    | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1321000 | PA      | $1204355.70   | 0.98%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                | Darling Ingredients, Inc.                                | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    266000 | PA      | $259400.54    | 0.21%             | 2030-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc.                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1739000 | PA      | $1682822.53   | 1.37%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Midcap Financial Issuer Trust                            | Midcap Financial Issuer Trust                            | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    394000 | PA      | $343765.00    | 0.28%             | 2028-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Gray Escrow II, Inc.                                     | Gray Escrow II, Inc.                                     | CUSIP: 389286AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    458000 | PA      | $346362.50    | 0.28%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| NMG Holding Co., Inc.                                    | NMG Holding Co., Inc.                                    | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    304000 | PA      | $292739.84    | 0.24%             | 2026-04-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                      | Post Holdings, Inc.                                      | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    548000 | PA      | $473691.20    | 0.38%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                      | Rakuten Group, Inc.                                      | CUSIP: 75102WAB4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    307000 | PA      | $196019.50    | 0.16%             | 2031-04-22      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Icahn Enterprises LP                                     | Icahn Enterprises LP                                     | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    921000 | PA      | $901714.26    | 0.73%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    104779 | PA      | $104779.30    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                               | Occidental Petroleum Corp.                               | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    868000 | PA      | $870170.00    | 0.71%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    772000 | PA      | $680305.70    | 0.55%             | 2028-10-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CMG Media Corp.                                          | CMG Media Corp.                                          | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338000 | PA      | $256880.00    | 0.21%             | 2027-12-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                  | SS&C Technologies, Inc.                                  | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   1146000 | PA      | $1085015.71   | 0.88%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Veritas US, Inc.                                         | Veritas US, Inc.                                         | CUSIP: 92346LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    830000 | PA      | $593704.51    | 0.48%             | 2025-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| News Corp.                                               | News Corp.                                               | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |    463000 | PA      | $411491.25    | 0.33%             | 2029-05-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Pactiv Evergreen Group Issuer, Inc.                      | Pactiv Evergreen Group Issuer, Inc.                      | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $445959.30    | 0.36%             | 2027-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                      | Herc Holdings, Inc.                                      | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    520000 | PA      | $484978.41    | 0.39%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                    | Sirius XM Radio, Inc.                                    | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    500000 | PA      | $407500.00    | 0.33%             | 2031-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc.                                            | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   1307000 | PA      | $1161419.81   | 0.94%             | 2026-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                              | TEGNA, Inc.                                              | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |     92000 | PA      | $86158.03     | 0.07%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Ardagh Metal Packaging Finance USA LLC                   | Ardagh Metal Packaging Finance USA LLC                   | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    531000 | PA      | $424800.00    | 0.34%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Curo Group Holdings Corp.                                | Curo Group Holdings Corp.                                | CUSIP: 23131LAC1<br>LEI: 54930007KH8KCGJ4YE72 | Long             | DBT              | CORP              | US        |    110000 | PA      | $45100.00     | 0.04%             | 2028-08-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| H&E Equipment Services, Inc.                             | H&E Equipment Services, Inc.                             | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |    510000 | PA      | $433372.00    | 0.35%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                             | MPH Acquisition Holdings LLC                             | CUSIP: 553283AC6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    791000 | PA      | $555677.50    | 0.45%             | 2028-11-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: —       |
| N/A                                                      | U.S. Treasury 10 Year Note                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -410 | NC      | $-207502.65   | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Verscend Escrow Corp.                                    | Verscend Escrow Corp.                                    | CUSIP: 92535WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    418000 | PA      | $418096.14    | 0.34%             | 2026-08-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Windstream Escrow LLC                                    | Windstream Escrow LLC                                    | CUSIP: 97382WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    497000 | PA      | $433008.77    | 0.35%             | 2028-08-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp.                                 | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1297000 | PA      | $1082768.26   | 0.88%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LCM Investments Holdings II LLC                          | LCM Investments Holdings II LLC                          | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    415000 | PA      | $346981.45    | 0.28%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Weatherford International Ltd.                           | Weatherford International Ltd.                           | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    691000 | PA      | $662669.00    | 0.54%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Diamond Sports Group LLC                                 | Diamond Sports Group LLC                                 | CUSIP: 25277LAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2628000 | PA      | $93819.60     | 0.08%             | 2027-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                               | iHeartCommunications, Inc.                               | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    548000 | PA      | $485155.36    | 0.39%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| AMC Networks, Inc.                                       | AMC Networks, Inc.                                       | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    440000 | PA      | $325050.00    | 0.26%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $306300.00    | 0.25%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                              | Cheniere Energy Partners LP                              | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    938000 | PA      | $858856.25    | 0.70%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Organon & Co.                                            | Organon & Co.                                            | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2438000 | PA      | $2192469.02   | 1.78%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                               | PG&E Corp.                                               | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     64000 | PA      | $58400.00     | 0.05%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                    | United Airlines, Inc.                                    | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    321000 | PA      | $296938.29    | 0.24%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                 | NGL Energy Operating LLC                                 | CUSIP: 62922LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    762000 | PA      | $688077.10    | 0.56%             | 2026-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                 | WESCO Distribution, Inc.                                 | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    962000 | PA      | $974025.00    | 0.79%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Avaya, Inc.                                              | Avaya, Inc.                                              | CUSIP: 053499AL3<br>LEI: J6LB5QIFSP2MFEFG4U76 | Long             | DBT              | CORP              | US        |    488000 | PA      | $213858.68    | 0.17%             | 2028-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Carvana Co.                                              | Carvana Co.                                              | CUSIP: 146869AJ1<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   1371000 | PA      | $575820.00    | 0.47%             | 2030-05-01      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                 | SCIH Salt Holdings, Inc.                                 | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    443000 | PA      | $391394.93    | 0.32%             | 2028-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                  | Sensata Technologies BV                                  | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    489000 | PA      | $425249.09    | 0.35%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1367000 | PA      | $1029291.33   | 0.84%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     27000 | PA      | $21590.55     | 0.02%             | 2031-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                                | Zayo Group Holdings, Inc.                                | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $999196.65    | 0.81%             | 2027-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    496654 | PA      | $496653.88    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                 | Comstock Resources, Inc.                                 | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    603000 | PA      | $578535.50    | 0.47%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Hawaiian Brand Intellectual Property Ltd.                | Hawaiian Brand Intellectual Property Ltd.                | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    322000 | PA      | $301386.37    | 0.24%             | 2026-01-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| INVESCO GOVT AND AGCY LEX                                | INVESCO GOVERNMENT & AGENCY PORTFOLIO OPEN-END FUND USD  | CUSIP: 825252885<br>LEI: O37NHJVF7S22I1ONOU83 | Long             | STIV             | RF                | US        |   2718012 | NS      | $2718012.50   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Radiate Holdco LLC                                       | Radiate Holdco LLC                                       | CUSIP: 75026JAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    349000 | PA      | $188355.30    | 0.15%             | 2028-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                    | Coinbase Global, Inc.                                    | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    967000 | PA      | $510092.50    | 0.41%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    924000 | PA      | $786555.00    | 0.64%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SASU                                       | Iliad Holding SASU                                       | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    491000 | PA      | $466902.54    | 0.38%             | 2026-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Compass Group Diversified Holdings LLC                   | Compass Group Diversified Holdings LLC                   | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    558000 | PA      | $487825.92    | 0.40%             | 2029-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                | Standard Industries, Inc.                                | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    554000 | PA      | $425077.11    | 0.35%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                      | Nexstar Media, Inc.                                      | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    552000 | PA      | $483298.08    | 0.39%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                              | Allied Universal Holdco LLC                              | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1125750.00   | 0.91%             | 2026-07-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                     | Clear Channel Outdoor Holdings, Inc.                     | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    168000 | PA      | $123480.00    | 0.10%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| Icahn Enterprises LP                                     | Icahn Enterprises LP                                     | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     69000 | PA      | $63521.06     | 0.05%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Co.                                           | Ford Motor Co.                                           | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1042000 | PA      | $827299.22    | 0.67%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Vmed O2 UK Financing I plc                               | Vmed O2 UK Financing I plc                               | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |     86000 | PA      | $70521.72     | 0.06%             | 2031-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    104779 | PA      | $104779.30    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Staples, Inc.                                            | Staples, Inc.                                            | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    123000 | PA      | $89482.50     | 0.07%             | 2027-04-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Southwestern Energy Co.                                  | Southwestern Energy Co.                                  | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    804000 | PA      | $703079.11    | 0.57%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                | Vistra Operations Co. LLC                                | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    406000 | PA      | $381110.70    | 0.31%             | 2027-07-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Stagwell Global LLC                                      | Stagwell Global LLC                                      | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    518000 | PA      | $444185.00    | 0.36%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                      | U.S. Treasury 5 Year Note                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -520 | NC      | $-232461.16   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    767000 | PA      | $757651.89    | 0.62%             | 2025-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Fortress Transportation and Infrastructure Investors LLC | Fortress Transportation and Infrastructure Investors LLC | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    463000 | PA      | $402527.57    | 0.33%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                               | Builders FirstSource, Inc.                               | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    541000 | PA      | $438822.63    | 0.36%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| VistaJet Malta Finance plc                               | VistaJet Malta Finance plc                               | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    257000 | PA      | $209455.00    | 0.17%             | 2030-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Diamond Sports Group LLC                                 | Diamond Sports Group LLC                                 | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    468000 | PA      | $72867.60     | 0.06%             | 2026-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                          | Madison IAQ LLC                                          | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    370000 | PA      | $271810.54    | 0.22%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Southwestern Energy Co.                                  | Southwestern Energy Co.                                  | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    151000 | PA      | $139675.00    | 0.11%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                             | Royal Caribbean Cruises Ltd.                             | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    464000 | PA      | $497060.00    | 0.40%             | 2025-06-01      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| DaVita, Inc.                                             | DaVita, Inc.                                             | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1314000 | PA      | $1052770.23   | 0.85%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| NFP Corp.                                                | NFP Corp.                                                | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    901000 | PA      | $763710.13    | 0.62%             | 2028-08-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                           | Uniti Group LP                                           | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $440070.00    | 0.36%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                      | Iron Mountain, Inc.                                      | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    117000 | PA      | $105300.00    | 0.09%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                              | TEGNA, Inc.                                              | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    735000 | PA      | $693185.85    | 0.56%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: —       |
| Royal Caribbean Cruises Ltd.                             | Royal Caribbean Cruises Ltd.                             | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    730000 | PA      | $595862.50    | 0.48%             | 2028-04-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CommScope, Inc.                                          | CommScope, Inc.                                          | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    214000 | PA      | $179225.00    | 0.15%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                           | 1011778 BC ULC                                           | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1770000 | PA      | $1477950.00   | 1.20%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                           | NCL Corp. Ltd.                                           | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    871000 | PA      | $714419.69    | 0.58%             | 2026-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                 | WESCO Distribution, Inc.                                 | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    228000 | PA      | $229759.75    | 0.19%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                               | Fertitta Entertainment LLC                               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    739000 | PA      | $622459.70    | 0.51%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| Aston Martin Capital Holdings Ltd.                       | Aston Martin Capital Holdings Ltd.                       | CUSIP: 04625HAG4<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    483000 | PA      | $464950.29    | 0.38%             | 2025-11-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: —       |
| Tronox, Inc.                                             | Tronox, Inc.                                             | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    432000 | PA      | $345844.05    | 0.28%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Cedar Fair LP                                            | Cedar Fair LP                                            | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    455000 | PA      | $453553.10    | 0.37%             | 2025-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                        | Clarios Global LP                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    837000 | PA      | $817012.11    | 0.66%             | 2027-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                                    | Cheniere Energy, Inc.                                    | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    340000 | PA      | $313225.00    | 0.25%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Block, Inc.                                              | Block, Inc.                                              | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    733000 | PA      | $650816.04    | 0.53%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                      | Rocket Mortgage LLC                                      | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1092000 | PA      | $844711.14    | 0.69%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                 | AthenaHealth Group, Inc.                                 | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $374449.60    | 0.30%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: —       |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $810237.83    | 0.66%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                    | OneMain Finance Corp.                                    | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    268000 | PA      | $259637.06    | 0.21%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| VZ Secured Financing BV                                  | VZ Secured Financing BV                                  | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $331000.00    | 0.27%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                        | Alliant Holdings Intermediate LLC                        | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    553000 | PA      | $509365.54    | 0.41%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| New Fortress Energy, Inc.                                | New Fortress Energy, Inc.                                | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    637000 | PA      | $615631.84    | 0.50%             | 2026-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1026837 | PA      | $1026837.12   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                      | Medline Borrower LP                                      | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $969850.00    | 0.79%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| New Fortress Energy, Inc.                                | New Fortress Energy, Inc.                                | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    423000 | PA      | $413156.79    | 0.34%             | 2025-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc.                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    683000 | PA      | $633961.61    | 0.51%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                     | Frontier Communications Holdings LLC                     | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1357000 | PA      | $1220295.82   | 0.99%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                         | Altice France SA                                         | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $473203.75    | 0.38%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                  | Level 3 Financing, Inc.                                  | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    592000 | PA      | $463382.24    | 0.38%             | 2028-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ROBLOX Corp.                                             | ROBLOX Corp.                                             | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    462000 | PA      | $377812.05    | 0.31%             | 2030-05-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                            | Organon & Co.                                            | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $154175.00    | 0.13%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                           | 1011778 BC ULC                                           | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1056000 | PA      | $940718.07    | 0.76%             | 2028-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| CDI Escrow Issuer, Inc.                                  | CDI Escrow Issuer, Inc.                                  | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $455000.00    | 0.37%             | 2030-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                   | Aramark Services, Inc.                                   | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10917.50     | 0.01%             | 2025-05-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                           | Uniti Group LP                                           | CUSIP: 91327AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    796000 | PA      | $799558.22    | 0.65%             | 2025-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                 | Spirit AeroSystems, Inc.                                 | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    480000 | PA      | $474840.00    | 0.39%             | 2025-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** ProShares Trust

**Signature:** Maria Clem Sell

**Name of Signer:** Maria Clem Sell

**Title:** Treasurer