# EDGAR Filing Document

**Accession Number:** 0001503290
**File Stem:** 0001752724-25-137919
**Filing Date:** 2025-6
**Character Count:** 78503
**Document Hash:** 63f00a563b93a9464465483939182a7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-137919.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0001752724-25-137919

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** abrdn Income Credit Strategies Fund
- **CENTRAL INDEX KEY:** 0001503290

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22485
- **FILM NUMBER:** 251045344

**BUSINESS ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
- **BUSINESS PHONE:** 215-405-5700

**MAIL ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aberdeen Income Credit Strategies Fund
- **DATE OF NAME CHANGE:** 20171201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Avenue Income Credit Strategies Fund
- **DATE OF NAME CHANGE:** 20101012

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** abrdn Income Credit Strategies Fund

- **b. Investment Company Act file number:** 811-22485

- **c. CIK number of Registrant:** 0001503290

- **d. LEI of Registrant:** JZ9OXI4GGKZDI84RNQ78

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

  - **Street Address 1:** 1900 Market Street

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19103

  - **Telephone number:** 215-405-5700

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

- **a. Name of Series:** abrdn Income Credit Strategies Fund

- **c. LEI of Series:** JZ9OXI4GGKZDI84RNQ78

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $1063197113.20

**Total Liabilities:** $317130108.67

**Net Assets:** $746067004.53

**Cash Not Reported:** $619079.98

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -31.39000000 | **1-Year:** -1107.39000000 | **5-Year:** -6944.12000000 | **10-Year:** -7370.19000000 | **30-Year:** -11449.91000000

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

- **3-Month:** -3638.12000000 | **1-Year:** -78994.58000000 | **5-Year:** -175001.23000000 | **10-Year:** -61241.43000000 | **30-Year:** -34233.16000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.45%                | -1.37%               | -3.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $281720.03               | $2356336.27                                |
| Month 2  | $973971.28               | $-8825212.18                               |
| Month 3  | $-2666802.20             | $-427098.31                                |

**Designated Index Information**

- **Index Name:** ICE BofA Global High Yield Constrained Index Hedged to USD

- **Index Identifier:** HW0CUSDH Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHS/COMMUNITY HEALTH SYS                          | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    985000 | PA      | $917594.83    | 0.12%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED USD / SOLD GBP                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-507.80      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DIG HLDNG/DIG FIN/DIFL                            | Digicel Intermediate Holdings Ltd / Digicel International Finance Ltd / Difl US | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | DBT              | CORP              | XX        |   1500211 | PA      | $1503841.51   | 0.20%             | 2027-05-25      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                              | Neptune Bidco US Inc                                                            | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |  11613000 | PA      | $10335570.00  | 1.39%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8533000 | PA      | $7434141.59   | 1.00%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SHERWOOD FINANCING PLC                            | Sherwood Financing PLC                                                          | CUSIP: 000000000<br>LEI: 259400SSZWSSPNYW7K08 | Long             | DBT              | CORP              | GB        |  11028000 | PA      | $14626204.00  | 1.96%             | 2029-12-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| ENQUEST PLC                                       | EnQuest PLC                                                                     | CUSIP: 29357JAC0<br>LEI: 2138008LJU6WFQWOXJ73 | Long             | DBT              | CORP              | GB        |  23350000 | PA      | $22798820.92  | 3.06%             | 2027-11-01      | Fixed         | 11.63%                | No            |                  2 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL                          | Cheplapharm Arzneimittel GmbH                                                   | CUSIP: 000000000<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |  12000000 | PA      | $12812539.30  | 1.72%             | 2030-05-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                               | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    543200 | PA      | $378195.85    | 0.05%             | 2038-01-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                    | Owens-Brockway Glass Container Inc                                              | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |  13765000 | PA      | $13669290.03  | 1.83%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTIO                          | Yinson Boronia Production BV                                                    | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |    313213 | PA      | $321043.20    | 0.04%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| BELFIUS BANK SA/NV                                | Belfius Bank SA                                                                 | CUSIP: 000000000<br>LEI: A5GWLFH3KM7YV2SFQL84 | Long             | DBT              | CORP              | BE        |   7600000 | PA      | $8480518.94   | 1.14%             | 2031-05-06      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                           | WE Soda Investments Holding PLC                                                 | CUSIP: 92943TAA1<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |   5742000 | PA      | $5872630.50   | 0.79%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| 888 ACQUISITIONS LTD                              | 888 Acquisitions Ltd                                                            | CUSIP: 000000000<br>LEI: 254900RFD0BP3JOPZU89 | Long             | DBT              | CORP              | GI        |  16650000 | PA      | $18841212.88  | 2.53%             | 2027-07-15      | Fixed         | 7.56%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                          | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15748000 | PA      | $14504183.59  | 1.94%             | 2034-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                          | Azule Energy Finance Plc                                                        | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |   2504000 | PA      | $2413856.00   | 0.32%             | 2030-01-23      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| AMBER FINCO PLC                                   | Amber Finco PLC 2024 EUR Term Loan                                              | CUSIP: 000000000<br>LEI: 9845004C0870D380O790 | Long             | LON              | CORP              | GB        |   3500000 | PA      | $3951761.53   | 0.53%             | 2029-06-11      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| SANCHEZ ENERGY CORP                               | SANCHEZ ENERGY CORP                                                             | CUSIP: 799ESCAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    257000 | PA      | $2570.00      | 0.00%             | 2023-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                         | Forvia SE                                                                       | CUSIP: 31209DAA3<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |   5979000 | PA      | $5952560.98   | 0.80%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Kaisa Group Holdings Ltd                          | Kaisa Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |   3609000 | PA      | $153382.50    | 0.02%             | 2024-06-30      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-0.75        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                              | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | XX        |         1 | NC      | $-7327.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                  | Vital Energy Inc                                                                | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   4612000 | PA      | $3907144.81   | 0.52%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| TR APPAREL HOLDINGS APRIL 26                      | TR APPAREL HOLDINGS APRIL 26                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $117949.49    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                    | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    410000 | PA      | $410390.73    | 0.06%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY                                  | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    971487 | NS      | $221499.04    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| BELLIS ACQUISITION CO PL                          | Bellis Acquisition Co PLC                                                       | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |   2900000 | PA      | $3608095.22   | 0.48%             | 2030-05-14      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                          | Connect Finco SARL / Connect US Finco LLC                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |  20543000 | PA      | $19217329.40  | 2.58%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SUMMER BIDCO BV                                   | Summer BidCo BV                                                                 | CUSIP: 000000000<br>LEI: 724500EOJYP21L3XM206 | Long             | DBT              | CORP              | NL        |   8151614 | PA      | $9519279.31   | 1.28%             | 2029-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                    | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   4123000 | PA      | $4037134.81   | 0.54%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LABORATOIRE EIMER SELAS                           | Laboratoire Eimer Selas                                                         | CUSIP: 000000000<br>LEI: 969500DCZL54LLTFEM37 | Long             | DBT              | CORP              | FR        |  13500000 | PA      | $13849777.22  | 1.86%             | 2029-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BENTELER INTERNATIONAL A                          | Benteler International AG                                                       | CUSIP: 08263DAA4<br>LEI: 529900ZAFSOBVFCKF263 | Long             | DBT              | CORP              | AT        |   6819000 | PA      | $6961271.62   | 0.93%             | 2028-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                     | PURCHASED HKD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | HK        |         1 | NC      | $2.79         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $-3637544.52  | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                  | Altice France SA                                                                | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1482000 | PA      | $1353986.74   | 0.18%             | 2029-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                  | Ziggo Bond Co BV                                                                | CUSIP: 000000000<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |   3000000 | PA      | $2658494.70   | 0.36%             | 2030-02-28      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| CORNERSTONE BUILDING                              | Cornerstone Building Brands Inc                                                 | CUSIP: 21925DAB5<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |  10855000 | PA      | $9444011.74   | 1.27%             | 2029-08-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                              | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17389000 | PA      | $18182494.85  | 2.44%             | 2032-09-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                               | Petroleos Mexicanos                                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   2250000 | PA      | $2198388.60   | 0.29%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                     | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |         1 | NC      | $5.97         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $6.16         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   5407000 | PA      | $2711823.64   | 0.36%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NOVA ALEXANDRE III SAS                            | Nova Alexandre III SAS                                                          | CUSIP: 000000000<br>LEI: 969500J0AKOB1UHO6I65 | Long             | DBT              | CORP              | FR        |   4147000 | PA      | $4742185.59   | 0.64%             | 2029-07-15      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| UKRAINE RAIL (RAIL CAPL)                          | Ukraine Railways Via Rail Capital Markets PLC                                   | CUSIP: 000000000<br>LEI: 213800IW9C7PR3HKI783 | Long             | DBT              | CORP              | GB        |    543727 | PA      | $472835.87    | 0.06%             | 2026-07-09      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $17426.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                        | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   4898000 | PA      | $5109191.96   | 0.68%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                | Saavi Energia Sarl                                                              | CUSIP: 78518PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   8099000 | PA      | $8139495.00   | 1.09%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $13016.61     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                  | ITT Holdings LLC                                                                | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |  11321000 | PA      | $10336744.34  | 1.39%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                  | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   6700000 | PA      | $8728190.35   | 1.17%             | 2026-04-30      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED GBP / SOLD USD                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | GB        |         1 | NC      | $25578.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CIMPRESS PLC                                      | Cimpress PLC                                                                    | CUSIP: 17186HAH5<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |  18344000 | PA      | $16737531.54  | 2.24%             | 2032-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 2 SARL                           | Albion Financing 2 Sarl                                                         | CUSIP: 013305AA5<br>LEI: 2594009X2UW7EQPIKY23 | Long             | DBT              | CORP              | LU        |  11735000 | PA      | $11845297.27  | 1.59%             | 2027-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAJ4<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   4164000 | PA      | $3715329.00   | 0.50%             | 2034-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                 | Iliad Holding SASU                                                              | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   5011000 | PA      | $5285763.15   | 0.71%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PRESTIGEBIDCO GMBH                                | PrestigeBidCo GmbH                                                              | CUSIP: 000000000<br>LEI: 529900CSF1DNOCHMI763 | Long             | DBT              | CORP              | DE        |   7156000 | PA      | $8140657.40   | 1.09%             | 2029-07-01      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING                              | Cornerstone Building Brands Inc                                                 | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |  12809000 | PA      | $8591864.75   | 1.15%             | 2029-01-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| INTU NEW MONEY NOTES PIK                          | INTU NEW MONEY NOTES PIK                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   5149021 | PA      | $6909453.15   | 0.93%             | 2025-12-04      | Fixed         | 11.00%                | No            |                  3 | On Loan: No      |
| TK ELEVATOR HOLDCO GMBH                           | TK Elevator Holdco GmbH                                                         | CUSIP: 000000000<br>LEI: 2549008GCHWX9EEMIS56 | Long             | DBT              | CORP              | DE        |  12624300 | PA      | $14302588.84  | 1.92%             | 2028-07-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| VIRIDIEN                                          | Viridien                                                                        | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |   3000000 | PA      | $2836500.00   | 0.38%             | 2030-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                      | Fibercop SpA                                                                    | CUSIP: 683879AH3<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |   3273000 | PA      | $3244275.17   | 0.43%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                            | Telecom Italia Capital SA                                                       | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   6567000 | PA      | $6843193.77   | 0.92%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                              | BCP V Modular Services Finance II PLC                                           | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |   6100000 | PA      | $7702758.42   | 1.03%             | 2028-11-30      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                          | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9253000 | PA      | $10453963.67  | 1.40%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $3507.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                       | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    919000 | PA      | $781650.09    | 0.10%             | 2048-03-22      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                      | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   7990000 | PA      | $8098296.46   | 1.09%             | 2031-06-01      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| OEG FINANCE PLC                                   | OEG Finance PLC                                                                 | CUSIP: 000000000<br>LEI: 254900KMBHWF9UK63G44 | Long             | DBT              | CORP              | GB        |   3499000 | PA      | $4008461.41   | 0.54%             | 2029-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                               | Altice Financing SA                                                             | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   2875000 | PA      | $2120374.60   | 0.28%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TR APPAREL HOLDINGS APRIL 25                      | TR APPAREL HOLDINGS APRIL 25                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $58974.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE                          | Walgreens Boots Alliance Inc                                                    | CUSIP: 931427AW8<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |  18564000 | PA      | $19314895.24  | 2.59%             | 2029-08-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CD&R Firefly Bidco Limited                        | CD&R Firefly Bidco Limited 2024 GBP Term Loan B5                                | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | LON              | CORP              | GB        |   9700000 | PA      | $12636335.29  | 1.69%             | 2028-06-21      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| STONEGATE PUB FIN                                 | Stonegate Pub Co Financing 2019 PLC                                             | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |  10040000 | PA      | $11498362.46  | 1.54%             | 2029-07-31      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED HKD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | HK        |         1 | NC      | $-32.23       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                              | Samarco Mineracao SA                                                            | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |   9217976 | PA      | $8675722.11   | 1.16%             | 2031-06-30      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                              | PURCHASED USD / SOLD GBP                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |         1 | NC      | $-29513.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SUMMER BIDCO BV                                   | Summer BidCo BV                                                                 | CUSIP: 000000000<br>LEI: 724500EOJYP21L3XM206 | Long             | DBT              | CORP              | NL        |  10959000 | PA      | $12797684.24  | 1.72%             | 2029-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                          | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |  10000000 | PA      | $10039321.24  | 1.35%             | 2026-08-15      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                            | Egypt Government International Bond                                             | CUSIP: 03846JX54<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |  11649000 | PA      | $9915395.82   | 1.33%             | 2032-05-29      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $169.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED HKD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | HK        |         1 | NC      | $-0.97        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |         1 | NC      | $-8646.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                            | Egypt Government International Bond                                             | CUSIP: 038461AM1<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1223000 | PA      | $887310.96    | 0.12%             | 2047-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                           | Consolidated Energy Finance SA                                                  | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |   2082000 | PA      | $2006893.93   | 0.27%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                             | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  10420000 | PA      | $10899692.83  | 1.46%             | 2027-11-22      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3925000 | PA      | $2690071.68   | 0.36%             | 2030-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY / RADIO SYS                           | CD&R Smokey Buyer Inc / Radio Systems Corp                                      | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12550000 | PA      | $10770127.12  | 1.44%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MOTION FINCO SARL                                 | Motion Finco Sarl                                                               | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | DBT              | CORP              | LU        |   8200000 | PA      | $9017855.08   | 1.21%             | 2030-06-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                          | Bellis Acquisition Co PLC                                                       | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |  10620000 | PA      | $13213093.54  | 1.77%             | 2030-05-14      | Fixed         | 8.13%                 | Yes           |                  2 | On Loan: No      |
| VITAL ENERGY INC                                  | Vital Energy Inc                                                                | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   1335000 | PA      | $1125714.59   | 0.15%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                            | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    928000 | PA      | $638928.00    | 0.09%             | 2048-02-21      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                          | Aston Martin Capital Holdings Ltd                                               | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |  11740000 | PA      | $10086851.86  | 1.35%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    862000 | PA      | $387708.29    | 0.05%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   6266000 | PA      | $6312554.50   | 0.85%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRUENOORD CAPITAL DAC                             | TrueNoord Capital DAC                                                           | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   6245000 | PA      | $6379143.41   | 0.86%             | 2030-03-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |         1 | NC      | $-2601.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INEOS QUATTRO FINANCE 2                           | INEOS Quattro Finance 2 Plc                                                     | CUSIP: 45674GAB0<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |   3519000 | PA      | $3387037.50   | 0.45%             | 2029-03-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| Studio City International Holdings Ltd            | Studio City International Holdings Ltd                                          | CUSIP: 86389T106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     98050 | NS      | $288267.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Bidco 0 Limited                            | Impala Bidco 0 Limited GBP Term Loan                                            | CUSIP: 000000000<br>LEI: 259400LN2RY29XJ6PM24 | Long             | LON              | CORP              | GB        |   1000000 | PA      | $984532.68    | 0.13%             | 2028-06-08      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                               | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   2949672 | PA      | $1967088.50   | 0.26%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| PROJECT GRAND UK PLC                              | Project Grand UK PLC                                                            | CUSIP: 000000000<br>LEI: 984500555ED7B8666028 | Long             | DBT              | CORP              | GB        |  19148000 | PA      | $22839535.89  | 3.06%             | 2029-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| LB BADEN-WUERTTEMBERG                             | Landesbank Baden-Wuerttemberg                                                   | CUSIP: 000000000<br>LEI: B81CK4ESI35472RHJ606 | Long             | DBT              | CORP              | DE        |  12800000 | PA      | $14046838.84  | 1.88%             | 2030-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| AFFINITY INTERACTIVE                              | Affinity Interactive                                                            | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24822000 | PA      | $17796629.34  | 2.39%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                             | eG Global Finance PLC                                                           | CUSIP: 000000000<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |   7800000 | PA      | $9786129.15   | 1.31%             | 2028-11-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                          | Univision Communications Inc                                                    | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |  14875000 | PA      | $14046113.68  | 1.88%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                             | Nabors Industries Inc                                                           | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |  11180000 | PA      | $7582699.72   | 1.02%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED HKD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | HK        |         1 | NC      | $8.24         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC                                   | Access Bank PLC                                                                 | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |    526000 | PA      | $505044.16    | 0.07%             | 2026-09-21      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                     | PURCHASED USD / SOLD GBP                                                        | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |         1 | NC      | $-17371.87    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                  | Ziggo Bond Co BV                                                                | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |   2700000 | PA      | $2393611.83   | 0.32%             | 2030-02-28      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                               | Nigeria Government International Bond                                           | CUSIP: 65412JAB9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    634000 | PA      | $449233.38    | 0.06%             | 2047-11-28      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                           | Summer BC Holdco B SARL                                                         | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |   2299000 | PA      | $2541572.00   | 0.34%             | 2030-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                              | IHO Verwaltungs GmbH                                                            | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |   3000000 | PA      | $3549184.96   | 0.48%             | 2028-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Colombia Government International Bonds           | Colombia Government International Bonds                                         | CUSIP: 195325EQ4<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  10769000 | PA      | $9849589.73   | 1.32%             | 2054-11-07      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| INTL AIRPORT FINANCE SA                           | International Airport Finance SA                                                | CUSIP: 45900TAA0<br>LEI: 959800M9M5LP0KXUP789 | Long             | DBT              | CORP              | ES        |    440007 | PA      | $469705.74    | 0.06%             | 2033-03-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| THUNDERBIRD RESOURCES EQUITY                      | THUNDERBIRD RESOURCES EQUITY                                                    | CUSIP: 000000000<br>LEI: 84JNOWGT1R2BJT129V65 | Long             | EC               | CORP              | US        |         7 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                            | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |         1 | NC      | $-20552.77    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                     | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |         1 | NC      | $-0.93        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MIWD HLDCO II/MIWD FIN                            | MIWD Holdco II LLC / MIWD Finance Corp                                          | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5733000 | PA      | $5166411.62   | 0.69%             | 2030-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DCLI BIDCO LLC                                    | Dcli Bidco LLC                                                                  | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |   4946000 | PA      | $4607298.91   | 0.62%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                   | IHS Holding Ltd                                                                 | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |   3000000 | PA      | $2890200.00   | 0.39%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS                          | Yapi ve Kredi Bankasi AS                                                        | CUSIP: 984848AR2<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    262000 | PA      | $267993.25    | 0.04%             | 2034-01-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2549418.12   | 0.34%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3441000 | PA      | $2814184.93   | 0.38%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                              | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | XX        |         1 | NC      | $54936.73     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MONITCHEM HOLDCO 3 S.A.                           | Monitchem HoldCo 3 SA                                                           | CUSIP: 000000000<br>LEI: 222100SJHJ1CNJMSW162 | Long             | DBT              | CORP              | LU        |  12500000 | PA      | $13981103.49  | 1.87%             | 2028-05-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                             | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   5800000 | PA      | $5585427.84   | 0.75%             | 2026-05-26      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| BCP V MODULAR SERVICES                            | BCP V Modular Services Finance PLC                                              | CUSIP: 000000000<br>LEI: 213800K8U94KVZL98H64 | Long             | DBT              | CORP              | GB        |  17823000 | PA      | $18126382.84  | 2.43%             | 2029-11-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                      | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   6311000 | PA      | $6233564.66   | 0.84%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                      | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   4219000 | PA      | $4174189.16   | 0.56%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NOVA ALEXANDRE III SAS                            | Nova Alexandre III SAS                                                          | CUSIP: 000000000<br>LEI: 969500J0AKOB1UHO6I65 | Long             | DBT              | CORP              | FR        |   5600000 | PA      | $6403723.00   | 0.86%             | 2029-07-15      | Floating      | 7.53%                 | Yes           |                  2 | On Loan: No      |
| STUDIO CITY INTL ADR                              | STUDIO CITY INTL ADR                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    183525 | NS      | $539563.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                           | Consolidated Energy Finance SA                                                  | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |  12772000 | PA      | $11513659.14  | 1.54%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| NEW COTAI BOND                                    | NEW COTAI BOND                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1202874 | PA      | $1430217.53   | 0.19%             | 2027-02-02      | Fixed         | 5.00%                 | No            |                  3 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED USD / SOLD HKD                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $0.34         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                  | Vital Energy Inc                                                                | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   9173000 | PA      | $7126438.57   | 0.96%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                               | Petroleos Mexicanos                                                             | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |  15709000 | PA      | $12997059.51  | 1.74%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BIS INDUSTRIES (ARTSONIG)                         | BIS INDUSTRIES (ARTSONIG)                                                       | CUSIP: 000000000<br>LEI: 549300L6O0HBD3F72080 | Long             | EC               | CORP              | AU        |    804308 | NS      | $0.80         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | XX        |         1 | NC      | $-3022.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Petroleos del Peru SA                             | Petroleos del Peru SA                                                           | CUSIP: 716564AB5<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |    522000 | PA      | $320043.37    | 0.04%             | 2047-06-19      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| EDGE FINCO PLC                                    | Edge Finco PLC                                                                  | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |   4000000 | PA      | $5406766.92   | 0.72%             | 2031-08-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| MONITCHEM HOLDCO 3 S.A.                           | Monitchem HoldCo 3 SA                                                           | CUSIP: 000000000<br>LEI: 222100SJHJ1CNJMSW162 | Long             | DBT              | CORP              | LU        |   9260000 | PA      | $10357201.46  | 1.39%             | 2028-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                          | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  20462000 | PA      | $17587803.12  | 2.36%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HT TROPLAST AG                                    | HT Troplast GmbH                                                                | CUSIP: 000000000<br>LEI: 529900Y2N2GAY3FXGP86 | Long             | DBT              | CORP              | DE        |  10600000 | PA      | $12115088.55  | 1.62%             | 2028-07-15      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                              | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |         1 | NC      | $9142.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                          | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  10106000 | PA      | $10434526.35  | 1.40%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |         1 | NC      | $25965.63     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LIQUID TELECOM FINANCE                            | Liquid Telecommunications Financing Plc                                         | CUSIP: 536333AB3<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $328200.00    | 0.04%             | 2026-09-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MOTEL ONE GMBH/MUENCHEN                           | Motel One GmbH/Muenchen                                                         | CUSIP: 000000000<br>LEI: 529900OZ5000U0NZHM90 | Long             | DBT              | CORP              | DE        |   2300000 | PA      | $2751532.46   | 0.37%             | 2031-04-02      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| State Street Global Advisors                      | State Street Institutional US Government Money Market Fund                      | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  30947338 | NS      | $30947337.58  | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                               | Petroleos Mexicanos                                                             | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    875000 | PA      | $587671.80    | 0.08%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO A SARL                           | Summer BC Holdco A Sarl                                                         | CUSIP: 000000000<br>LEI: 984500EFA0BRE0008996 | Long             | DBT              | CORP              | LU        |  16128842 | PA      | $18203048.39  | 2.44%             | 2027-10-31      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC            | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-39517.96    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FORESIGHT ENERGY                                  | FORESIGHT ENERGY                                                                | CUSIP: 000000000<br>LEI: 549300HM3UR1W0JJ7F28 | Long             | EC               | CORP              | US        |     74057 | NS      | $639116.14    | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| IHS HOLDING LTD                                   | IHS Holding Ltd                                                                 | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |   2589000 | PA      | $2495840.01   | 0.33%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| WAGA BONDCO LTD                                   | Waga Bondco Ltd                                                                 | CUSIP: 000000000<br>LEI: 254900PFB2C9WELUW795 | Long             | DBT              | CORP              | JE        |   8644000 | PA      | $11255484.33  | 1.51%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ICELAND BONDCO PLC                                | Iceland Bondco PLC                                                              | CUSIP: 000000000<br>LEI: 2138002DRBYIA8QXHO36 | Long             | DBT              | CORP              | GB        |   9400000 | PA      | $13256907.23  | 1.78%             | 2027-12-15      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| CITYCON OYJ                                       | Citycon Oyj                                                                     | CUSIP: 000000000<br>LEI: 549300P8N0P6KDGTJ206 | Long             | DBT              | CORP              | FI        |   7500000 | PA      | $8290032.05   | 1.11%             | 2029-06-10      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| TBC BANK JSC                                      | TBC Bank JSC                                                                    | CUSIP: 48128XAD5<br>LEI: 2138001MSA39Q44QTA18 | Long             | DBT              | CORP              | GE        |    294000 | PA      | $287388.12    | 0.04%             | 2029-07-30      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                          | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  12110000 | PA      | $10331676.05  | 1.38%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                  | Altice France SA                                                                | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1591000 | PA      | $1454959.28   | 0.20%             | 2029-10-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BRACKEN MIDCO ONE                                 | Bracken MidCo1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800AFGHKES7J58805 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $13017230.49  | 1.74%             | 2027-11-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| SATURN OIL & GAS INC                              | Saturn Oil & Gas Inc                                                            | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |  10111000 | PA      | $9162259.19   | 1.23%             | 2029-06-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| MOTEL ONE GMBH/MUENCHEN                           | Motel One GmbH/Muenchen                                                         | CUSIP: 000000000<br>LEI: 529900OZ5000U0NZHM90 | Long             | DBT              | CORP              | DE        |   1725000 | PA      | $2063649.35   | 0.28%             | 2031-04-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                     | PURCHASED HKD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | HK        |         1 | NC      | $-1.94        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TURNING POINT BRANDS INC                          | Turning Point Brands Inc                                                        | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |   5286000 | PA      | $5493015.62   | 0.74%             | 2032-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                              | PURCHASED EUR / SOLD USD                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | XX        |         1 | NC      | $-5448.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HT TROPLAST AG                                    | HT Troplast GmbH                                                                | CUSIP: 000000000<br>LEI: 529900Y2N2GAY3FXGP86 | Long             | DBT              | CORP              | DE        |   7884000 | PA      | $9010882.84   | 1.21%             | 2028-07-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                              | PURCHASED USD / SOLD GBP                                                        | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |         1 | NC      | $-4379959.52  | -0.59%            |  |  |  | No            |                  2 | On Loan: No      |
| MLN US Holdco LLC                                 | MLN US HoldCo LLC 2022 Second Out Term Loan                                     | CUSIP: 55292HAJ2<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   1928718 | PA      | $4821.80      | 0.00%             | 2027-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BOI FINANCE BV                                    | BOI Finance BV                                                                  | CUSIP: 000000000<br>LEI: 724500ZH3H2YACBUNF38 | Long             | DBT              | CORP              | NL        |    464000 | PA      | $515396.81    | 0.07%             | 2027-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                             | Minerva Luxembourg SA                                                           | CUSIP: 603374AH2<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |  12526000 | PA      | $13361208.63  | 1.79%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MLN US Holdco LLC                                 | MLN US HoldCo LLC 2022 Third Out Term Loan                                      | CUSIP: 55292HAL7<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |    971200 | PA      | $2428.00      | 0.00%             | 2027-10-18      | Floating      | 17.75%                | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                            | Cloud Software Group Inc                                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    850000 | PA      | $850305.04    | 0.11%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED HKD / SOLD USD                                                        | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | HK        |         1 | NC      | $5.63         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                          | Encore Capital Group Inc                                                        | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |   3760000 | PA      | $3969018.40   | 0.53%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED USD / SOLD EUR                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-3792482.98  | -0.51%            |  |  |  | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                                 | Owens & Minor Inc                                                               | CUSIP: 690732AH5<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   8158000 | PA      | $8420010.49   | 1.13%             | 2030-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                          | MajorDrive Holdings IV LLC                                                      | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |  23118000 | PA      | $17006638.80  | 2.28%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                       | Staples Inc                                                                     | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |  18928000 | PA      | $16399499.52  | 2.20%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-16

**Name of Applicant:** abrdn Income Credit Strategies Fund

**Signature:** Sharon Ferrari

**Name of Signer:** Sharon Ferrari

**Title:** Assistant Treasurer