# EDGAR Filing Document

**Accession Number:** 0000076721
**File Stem:** 0001752724-25-205431
**Filing Date:** 2025-8
**Character Count:** 105566
**Document Hash:** b8ce58ee509a5222f4463ab7e3749eeb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-205431.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-205431

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IMPAX FUNDS SERIES TRUST I
- **CENTRAL INDEX KEY:** 0000076721

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02064
- **FILM NUMBER:** 251256442

**BUSINESS ADDRESS:**
- **STREET 1:** 30 PENHALLOW STREET, SUITE 400
- **CITY:** PORTSMOUTH
- **STATE:** NH
- **ZIP:** 03801-3852
- **BUSINESS PHONE:** 800-767-1729

**MAIL ADDRESS:**
- **STREET 1:** 30 PENHALLOW STREET, SUITE 400
- **CITY:** PORTSMOUTH
- **STATE:** NH
- **ZIP:** 03801-3852

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAX WORLD FUNDS SERIES TRUST I
- **DATE OF NAME CHANGE:** 20070831

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAX WORLD BALANCED FUND
- **DATE OF NAME CHANGE:** 20061113

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAX WORLD BALANCED FUND INC
- **DATE OF NAME CHANGE:** 20040624

## Series and Classes Contracts Data

### Impax High Yield Bond Fund (Series ID: S000015758)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000043226 | Investor Class      | PAXHX           |
| C000043227 | Institutional Class | PXHIX           |
| C000128847 | Class A             | PXHAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** IMPAX FUNDS SERIES TRUST I

- **b. Investment Company Act file number:** 811-02064

- **c. CIK number of Registrant:** 0000076721

- **d. LEI of Registrant:** 549300TD5R23SWU72456

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

  - **Street Address 1:** 30 Penhallow St., Suite 100

  - **City:** Portsmouth

  - **State:** NH

  - **Foreign country:** US

  - **Zip / Postal Code:** 03801

  - **Telephone number:** 603-431-8022

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

- **a. Name of Series:** Impax High Yield Bond Fund

- **b. EDGAR series identifier (if any):** S000015758

- **c. LEI of Series:** 549300XS1BN61UNERX35

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $537620849.02

**Total Liabilities:** $13768250.66

**Net Assets:** $523852598.36

**Cash Not Reported:** $613442.44

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 108.62540400 | **1-Year:** 2541.07488400 | **5-Year:** 3944.72458900 | **10-Year:** 6289.11630600 | **30-Year:** 1025.66424200

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

- **3-Month:** 295.66728500 | **1-Year:** 33719.29216600 | **5-Year:** 99617.70813100 | **10-Year:** 11906.83652700 | **30-Year:** 2600.16494700

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000043227 | 0.51%                | 1.71%                | 1.80%                |
| Class ID C000043226 | 0.49%                | 1.52%                | 1.77%                |
| Class ID C000128847 | 0.51%                | 1.68%                | 1.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1753496.25             | $1679890.54                                |
| Month 2  | $149255.88               | $5503087.14                                |
| Month 3  | $-94869.47               | $6652688.59                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Envest Microfinance Cooperative                                                             | Envest Microfinance Cooperative                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    150000 | PA      | $150000.00    | 0.03%             | 2025-10-24      | Fixed         | 4.00%                 | No            |                  3 | On Loan: No      |
| Diebold Nixdorf, Inc.                                                                       | Diebold Nixdorf, Inc.                                                                       | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3190185.12   | 0.61%             | 2030-03-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                                                     | Sensata Technologies BV                                                                     | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |   3500000 | PA      | $3507598.50   | 0.67%             | 2030-09-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CVR Partners LP / CVR Nitrogen Finance Corp.                                                | CVR Partners LP / CVR Nitrogen Finance Corp.                                                | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4300000 | PA      | $4310092.53   | 0.82%             | 2028-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                                   | Standard Industries, Inc.                                                                   | CUSIP: 853496AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1776499.56   | 0.34%             | 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        |   3000000 | PA      | $2994916.77   | 0.57%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman, Inc.                                                                     | Williams Scotsman, Inc.                                                                     | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2079142.00   | 0.40%             | 2030-04-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance, Inc. (The) | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance, Inc. (The) | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2600740.00   | 0.50%             | 2031-05-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc. / PetSmart Finance Corp.                                                     | PetSmart, Inc. / PetSmart Finance Corp.                                                     | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1464021.51   | 0.28%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                                         | Iron Mountain, Inc.                                                                         | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992816.60    | 0.19%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                                              | Olympus Water US Holding Corp.                                                              | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2831061.47   | 0.54%             | 2028-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                                          | United Rentals North America, Inc.                                                          | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $4314353.40   | 0.82%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Clean Harbors, Inc.                                                                         | Clean Harbors, Inc.                                                                         | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2563145.00   | 0.49%             | 2031-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                                         | Post Holdings, Inc.                                                                         | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996314.60    | 0.19%             | 2029-12-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                                         | Regal Rexnord Corp.                                                                         | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1597700.66   | 0.30%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Under Armour, Inc.                                                                          | Under Armour, Inc.                                                                          | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3045616.89   | 0.58%             | 2030-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC                  | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC                  | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1114452.02   | 0.21%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                                  | Allison Transmission, Inc.                                                                  | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2021903.72   | 0.39%             | 2029-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                                                                 | Block, Inc.                                                                                 | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3097134.00   | 0.59%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                                   | XPLR Infrastructure Operating Partners LP                                                   | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3206652.00   | 0.61%             | 2031-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| CEI Investments LLC                                                                         | CEI Investments LLC                                                                         | CUSIP: N/A<br>LEI: 549300V4U3ZTTPUB7583       | Long             | DBT              | CORP              | US        |    552735 | PA      | $552735.28    | 0.11%             | 2025-10-31      | Variable      | 4.00%                 | No            |                  3 | On Loan: No      |
| Allison Transmission, Inc.                                                                  | Allison Transmission, Inc.                                                                  | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1100647.56   | 0.21%             | 2031-01-30      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                                      | Tenet Healthcare Corp.                                                                      | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3596580.76   | 0.69%             | 2027-11-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                                                                  | Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class B                                         | CUSIP: 91326EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $510482.60    | 0.10%             | 2055-04-20      | Fixed         | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Land O' Lakes, Inc.                                                                         | Land O' Lakes, Inc.                                                                         | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |   3685000 | PA      | $3090793.75   | 0.59%             | 2028-09-18      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                                         | Post Holdings, Inc.                                                                         | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2057868.42   | 0.39%             | 2032-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                                  | Cloud Software Group, Inc.                                                                  | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2019916.00   | 0.39%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Cimpress plc                                                                                | Cimpress plc                                                                                | CUSIP: 17186HAH5<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |   2500000 | PA      | $2389381.00   | 0.46%             | 2032-09-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                                       | OneMain Finance Corp.                                                                       | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1162489.50   | 0.22%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.                                                 | HA Sustainable Infrastructure Capital, Inc.                                                 | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3502326.63   | 0.67%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMC Networks, Inc.                                                                          | AMC Networks, Inc.                                                                          | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2075000.00   | 0.40%             | 2029-01-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4362963.08   | 0.83%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Envest Microfinance Cooperative                                                             | Envest Microfinance Cooperative                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    250000 | PA      | $247232.50    | 0.05%             | 2026-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Maxam Prill SARL                                                                            | Maxam Prill SARL                                                                            | CUSIP: 57779MAA8<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |   3000000 | PA      | $3007643.94   | 0.57%             | 2030-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                                                         | Bank of New York Mellon Corp. (The)                                                         | CUSIP: 064058AN0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2059626.00   | 0.39%             | 2030-03-20      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                                                         | Iron Mountain, Inc.                                                                         | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2457946.00   | 0.47%             | 2029-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Dentsply Sirona, Inc.                                                                       | Dentsply Sirona, Inc.                                                                       | CUSIP: 24906PAB5<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3024051.24   | 0.58%             | 2055-09-12      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| Dye & Durham Ltd.                                                                           | Dye & Durham Ltd.                                                                           | CUSIP: 267486AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2764000 | PA      | $2894734.44   | 0.55%             | 2029-04-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Entegris, Inc.                                                                              | Entegris, Inc.                                                                              | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989830.50    | 0.19%             | 2029-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Sealed Air Corp.                                                                            | Sealed Air Corp.                                                                            | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3629108.00   | 0.69%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| WASH Multifamily Acquisition, Inc.                                                          | WASH Multifamily Acquisition, Inc.                                                          | CUSIP: 93710WAA3<br>LEI: 549300AS7PRY5PHG6L12 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $4038301.58   | 0.77%             | 2026-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Genesee & Wyoming, Inc.                                                                     | Genesee & Wyoming, Inc.                                                                     | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1532434.50   | 0.29%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCR Voyix Corp.                                                                             | NCR Voyix Corp.                                                                             | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    583000 | PA      | $574719.88    | 0.11%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| McAfee Corp.                                                                                | McAfee Corp.                                                                                | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1890727.48   | 0.36%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services LLC / Windstream Escrow Finance Corp.                                   | Windstream Services LLC / Windstream Escrow Finance Corp.                                   | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3144422.97   | 0.60%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Midcontinent Communications                                                                 | Midcontinent Communications                                                                 | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3708334.00   | 0.71%             | 2032-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| NESCO Holdings II, Inc.                                                                     | NESCO Holdings II, Inc.                                                                     | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3802186.83   | 0.73%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Toucan FinCo Ltd. / Toucan FinCo Can, Inc. / Toucan FinCo US LLC                            | Toucan FinCo Ltd. / Toucan FinCo Can, Inc. / Toucan FinCo US LLC                            | CUSIP: 89157UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2557694.33   | 0.49%             | 2030-05-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                                      | Cleveland-Cliffs, Inc.                                                                      | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1936428.20   | 0.37%             | 2030-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC / Directv Financing Co-Obligor, Inc.                                  | Directv Financing LLC / Directv Financing Co-Obligor, Inc.                                  | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2914555.23   | 0.56%             | 2031-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| BellRing Brands, Inc.                                                                       | BellRing Brands, Inc.                                                                       | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3127137.00   | 0.60%             | 2030-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Entegris, Inc.                                                                              | Entegris, Inc.                                                                              | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   2125000 | PA      | $2160836.00   | 0.41%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                                  | Cloud Software Group, Inc.                                                                  | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3195477.00   | 0.61%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                                         | Regal Rexnord Corp.                                                                         | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1531749.49   | 0.29%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                                                                  | Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class C                                         | CUSIP: 91326EAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2071012.80   | 0.40%             | 2055-04-20      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                                              | Univision Communications, Inc.                                                              | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2505031.68   | 0.48%             | 2031-07-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                                        | Clear Channel Outdoor Holdings, Inc., First Lien, 2024 Refinancing CME Term Loan            | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |   3000000 | PA      | $2982315.00   | 0.57%             | 2028-08-23      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                                            | Virgin Media Secured Finance plc                                                            | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |   3575000 | PA      | $3518541.96   | 0.67%             | 2029-05-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                                        | Clear Channel Outdoor Holdings, Inc.                                                        | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1033154.00   | 0.20%             | 2030-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| C&W Senior Finance Ltd.                                                                     | C&W Senior Finance Ltd.                                                                     | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $1023787.38   | 0.20%             | 2033-01-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Knife River Corp.                                                                           | Knife River Corp.                                                                           | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2675000 | PA      | $2822106.36   | 0.54%             | 2031-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                                         | Frontier Issuer LLC, Series 2024-1, Class B                                                 | CUSIP: 35910EAM6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2093387.20   | 0.40%             | 2054-06-20      | Fixed         | 7.02%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC / Avis Budget Finance, Inc.                                      | Avis Budget Car Rental LLC / Avis Budget Finance, Inc.                                      | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2093798.00   | 0.40%             | 2032-06-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                                               | Novelis Corp.                                                                               | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2205289.91   | 0.42%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                                                         | Azorra Finance Ltd.                                                                         | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |   2000000 | PA      | $2046844.76   | 0.39%             | 2031-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Victoria's Secret & Co.                                                                     | Victoria's Secret & Co.                                                                     | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1868762.60   | 0.36%             | 2029-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                                         | Herc Holdings, Inc.                                                                         | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3145353.81   | 0.60%             | 2033-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc. / PetSmart Finance Corp.                                                     | PetSmart, Inc. / PetSmart Finance Corp.                                                     | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1945444.20   | 0.37%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                                             | Advanced Drainage Systems, Inc.                                                             | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2507628.90   | 0.48%             | 2030-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Enpro, Inc.                                                                                 | Enpro, Inc.                                                                                 | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |   2775000 | PA      | $2843880.08   | 0.54%             | 2033-06-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                                                        | Kennedy-Wilson, Inc.                                                                        | CUSIP: 489399AN5<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3667220.00   | 0.70%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                                | Barclays plc                                                                                | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4000000 | PA      | $4027172.00   | 0.77%             | 2035-03-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Imola Merger Corp.                                                                          | Imola Merger Corp.                                                                          | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4347573.30   | 0.83%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                                                        | Owens-Brockway Glass Container, Inc.                                                        | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1877291.25   | 0.36%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Digicel Intermediate Holdings Ltd. / Digicel International Finance Ltd. / DIFL US LLC       | Digicel Intermediate Holdings Ltd. / Digicel International Finance Ltd. / DIFL US LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1022115 | PA      | $1033445.14   | 0.20%             | 2027-05-25      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                                           | Clarios Global LP, First Lien, Amendment No. 6 Dollar CME Term Loan                         | CUSIP: C8000CAP8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3000000 | PA      | $3006570.00   | 0.57%             | 2032-01-28      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                                         | Post Holdings, Inc.                                                                         | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1858188.60   | 0.35%             | 2031-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Coherent Corp.                                                                              | Coherent Corp.                                                                              | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |   5050000 | PA      | $4965019.11   | 0.95%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Shared Interest, Inc.                                                                       | Shared Interest, Inc.                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    500000 | PA      | $500000.00    | 0.10%             | 2025-09-30      | Fixed         | 4.00%                 | No            |                  3 | On Loan: No      |
| VM Consolidated, Inc.                                                                       | VM Consolidated, Inc.                                                                       | CUSIP: 91835HAA0<br>LEI: 549300GCTGJLEBXJUK89 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3929805.60   | 0.75%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| BNSF Funding Trust I                                                                        | BNSF Funding Trust I                                                                        | CUSIP: 05567SAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3325000 | PA      | $3344318.25   | 0.64%             | 2055-12-15      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| Terex Corp.                                                                                 | Terex Corp.                                                                                 | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2005392.00   | 0.38%             | 2032-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                         | Rithm Capital Corp.                                                                         | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2011530.00   | 0.38%             | 2030-07-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Co. Ltd.                                                                       | Nissan Motor Co. Ltd.                                                                       | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1500000 | PA      | $1377151.07   | 0.26%             | 2030-09-17      | Fixed         | 4.81%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1781624.00   | 0.34%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                                                 | IQVIA, Inc.                                                                                 | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2742500.20   | 0.52%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Fibercop SpA                                                                                | Fibercop SpA                                                                                | CUSIP: 683879AF7<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |   1217000 | PA      | $1192152.68   | 0.23%             | 2036-07-18      | Fixed         | 7.20%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                                         | Sirius XM Radio LLC                                                                         | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2767993.59   | 0.53%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                                                 | IQVIA, Inc.                                                                                 | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2311803.43   | 0.44%             | 2032-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                                                       | Avantor Funding, Inc.                                                                       | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   5600000 | PA      | $5503002.96   | 1.05%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Howden UK Refinance plc / Howden UK Refinance 2 plc / Howden US Refinance LLC               | Howden UK Refinance plc / Howden UK Refinance 2 plc / Howden US Refinance LLC               | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   3750000 | PA      | $3886170.00   | 0.74%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ams-OSRAM AG                                                                                | ams-OSRAM AG                                                                                | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |   2000000 | PA      | $2135742.46   | 0.41%             | 2029-03-30      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Albion Financing 1 SARL / Aggreko Holdings, Inc.                                            | Albion Financing 1 SARL / Aggreko Holdings, Inc.                                            | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   3000000 | PA      | $3069081.78   | 0.59%             | 2030-05-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Xerox Corp.                                                                                 | Xerox Corp.                                                                                 | CUSIP: 984121CS0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3143788.98   | 0.60%             | 2030-10-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                                                         | Altice Financing SA                                                                         | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   1000000 | PA      | $731195.50    | 0.14%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Manitowoc Co., Inc. (The)                                                                   | Manitowoc Co., Inc. (The)                                                                   | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2107385.70   | 0.40%             | 2031-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                                         | Hilton Domestic Operating Co., Inc.                                                         | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5123975.00   | 0.98%             | 2032-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Interface, Inc.                                                                             | Interface, Inc.                                                                             | CUSIP: 458665AS5<br>LEI: 549300VXZWQOIDFPU355 | Long             | DBT              | CORP              | US        |   3955000 | PA      | $3900921.70   | 0.74%             | 2028-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sable International Finance Ltd.                                                            | Sable International Finance Ltd.                                                            | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |   3000000 | PA      | $3010581.00   | 0.57%             | 2032-10-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance, Inc.                                                      | 1011778 BC ULC / New Red Finance, Inc.                                                      | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2053018.00   | 0.39%             | 2029-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| PetSmart LLC                                                                                | PetSmart LLC, First Lien, Initial CME Term Loan                                             | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1488382 | PA      | $1476289.03   | 0.28%             | 2028-02-11      | Variable      | 8.18%                 | No            |                  2 | On Loan: No      |
| Digicel Holdings Bermuda Ltd.                                                               | Digicel Holdings Bermuda Ltd.                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | BM        |      1328 | NS      | $13944.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Nissan Motor Co. Ltd.                                                                       | Nissan Motor Co. Ltd.                                                                       | CUSIP: 654744AC5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1500000 | PA      | $1441041.30   | 0.28%             | 2027-09-17      | Fixed         | 4.34%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                                            | Gray Media, Inc.                                                                            | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1126044.36   | 0.21%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                                       | OneMain Finance Corp.                                                                       | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1041134.82   | 0.20%             | 2031-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL / Connect US Finco LLC                                                   | Connect Finco SARL / Connect US Finco LLC                                                   | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1509567.00   | 0.29%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                                    | PNC Financial Services Group, Inc. (The), Series V                                          | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2042777.12   | 0.39%             | 2027-09-15      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                                                     | SS&C Technologies, Inc.                                                                     | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2003144.00   | 0.38%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AdaptHealth LLC                                                                             | AdaptHealth LLC                                                                             | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2829803.70   | 0.54%             | 2029-08-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Shea Homes LP / Shea Homes Funding Corp.                                                    | Shea Homes LP / Shea Homes Funding Corp.                                                    | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1971550.00   | 0.38%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Viking Ocean Cruises Ship VII Ltd.                                                          | Viking Ocean Cruises Ship VII Ltd.                                                          | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   3150000 | PA      | $3136606.29   | 0.60%             | 2029-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Resideo Funding, Inc.                                                                       | Resideo Funding, Inc.                                                                       | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4102968.00   | 0.78%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                                                         | Viking Cruises Ltd.                                                                         | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   2500000 | PA      | $2694065.00   | 0.51%             | 2031-07-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Walden Mutual Bank                                                                          | Walden Mutual Bank                                                                          | CUSIP: 93120MAK7<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    500000 | PA      | $499064.15    | 0.10%             | 2025-11-14      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                                         | Newell Brands, Inc.                                                                         | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2105422.00   | 0.40%             | 2028-06-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                                  | Allison Transmission, Inc.                                                                  | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1189836.01   | 0.23%             | 2027-10-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund                                                            | JPMorgan Prime Money Market Fund                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   6991525 | NS      | $6991524.74   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HAT Holdings I LLC / HAT Holdings II LLC                                                    | HAT Holdings I LLC / HAT Holdings II LLC                                                    | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3129237.00   | 0.60%             | 2027-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| United Natural Foods, Inc.                                                                  | United Natural Foods, Inc., First Lien, 2024 CME Term Loan                                  | CUSIP: 91116KAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1526742 | PA      | $1542008.96   | 0.29%             | 2031-05-01      | Variable      | 9.08%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL                                                                          | Connect Finco SARL, First Lien, Amendment No. 4 CME Term Loan                               | CUSIP: L2000DAH7<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |   1989950 | PA      | $1896810.15   | 0.36%             | 2029-09-13      | Variable      | 8.83%                 | No            |                  2 | On Loan: No      |
| AMC Networks, Inc.                                                                          | AMC Networks, Inc.                                                                          | CUSIP: 00164VAK9<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2027800.00   | 0.39%             | 2032-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Millicom International Cellular SA                                                          | Millicom International Cellular SA                                                          | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |   2750000 | PA      | $2825020.00   | 0.54%             | 2032-04-02      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| TrueNoord Capital DAC                                                                       | TrueNoord Capital DAC                                                                       | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3000000 | PA      | $3117609.00   | 0.60%             | 2030-03-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1863735.60   | 0.36%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC / Outfront Media Capital Corp.                                   | Outfront Media Capital LLC / Outfront Media Capital Corp.                                   | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3345376.65   | 0.64%             | 2030-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                                            | Gray Media, Inc., First Lien, CME Term Loan, D                                              | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |   1978326 | PA      | $1920548.83   | 0.37%             | 2028-12-01      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| AMC Networks, Inc.                                                                          | AMC Networks, Inc.                                                                          | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2005162.50   | 0.38%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                              | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7246155.00   | 1.38%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                                                  | Macy's Retail Holdings LLC                                                                  | CUSIP: 55617LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1682426.40   | 0.32%             | 2034-07-15      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                           | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                           | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1924794.00   | 0.37%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CCO Holdings LLC / CCO Holdings Capital Corp.                                               | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3275000 | PA      | $3265301.09   | 0.62%             | 2029-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                                       | OneMain Finance Corp.                                                                       | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1420497.75   | 0.27%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Maxim Crane Works Holdings Capital LLC                                                      | Maxim Crane Works Holdings Capital LLC                                                      | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2324916.00   | 0.44%             | 2028-09-01      | Fixed         | 11.50%                | Yes           |                  2 | On Loan: No      |
| Champion Iron Canada, Inc.                                                                  | Champion Iron Canada, Inc.                                                                  | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2029104.48   | 0.39%             | 2032-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.                                     | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.                                     | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2078388.00   | 0.40%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC                           | Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC                           | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3033024.00   | 0.58%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                                                        | IHO Verwaltungs GmbH                                                                        | CUSIP: 44963BAD0<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $2003010.00   | 0.38%             | 2029-05-15      | Fixed         | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                         | Rithm Capital Corp.                                                                         | CUSIP: 64828TAA0<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2510810.00   | 0.48%             | 2025-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                                                         | Azorra Finance Ltd.                                                                         | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |   2500000 | PA      | $2609120.00   | 0.50%             | 2030-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| New Flyer Holdings, Inc.                                                                    | New Flyer Holdings, Inc.                                                                    | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1430651.99   | 0.27%             | 2030-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                                                                      | Neptune Bidco US, Inc.                                                                      | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3410750.00   | 0.65%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                                                      | HUB International Ltd.                                                                      | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $3032733.00   | 0.58%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                                              | Univision Communications, Inc.                                                              | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3046827.00   | 0.58%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Pattern Energy Operations LP / Pattern Energy Operations, Inc.                              | Pattern Energy Operations LP / Pattern Energy Operations, Inc.                              | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3053881.85   | 0.58%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                             | Goldman Sachs Group, Inc. (The)                                                             | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2068976.52   | 0.39%             | 2030-02-10      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Mercer International, Inc.                                                                  | Mercer International, Inc.                                                                  | CUSIP: 588056BC4<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3858953.20   | 0.74%             | 2028-10-01      | Fixed         | 12.88%                | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                                                | Performance Food Group, Inc.                                                                | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4096736.00   | 0.78%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Five Point Operating Co. LP / Five Point Capital Corp.                                      | Five Point Operating Co. LP / Five Point Capital Corp.                                      | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | SN               | CORP              | US        |   2261291 | PA      | $2301973.89   | 0.44%             | 2028-01-15      | Variable      | 10.50%                | Yes           |                  2 | On Loan: No      |
| Liberty Mutual Group, Inc.                                                                  | Liberty Mutual Group, Inc.                                                                  | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5844679.32   | 1.12%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                                                             | 1261229 BC Ltd., First Lien, Initial CME Term Loan                                          | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1000000 | PA      | $966640.00    | 0.18%             | 2030-10-08      | Variable      | 10.56%                | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                                            | CSC Holdings LLC, First Lien, 2022 CME Term Loan                                            | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1976130.00   | 0.38%             | 2028-01-18      | Variable      | 8.81%                 | No            |                  2 | On Loan: No      |
| Gray Media, Inc.                                                                            | Gray Media, Inc.                                                                            | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1075075.00   | 0.21%             | 2029-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                                       | Clydesdale Acquisition Holdings, Inc.                                                       | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2053787.72   | 0.39%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                                                   | ATI, Inc.                                                                                   | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048743.00   | 0.20%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                                                         | Nexstar Media, Inc.                                                                         | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1949492.00   | 0.37%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                                               | TerraForm Power Operating LLC                                                               | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   2025000 | PA      | $1940023.91   | 0.37%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Esab Corp.                                                                                  | Esab Corp.                                                                                  | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3075333.00   | 0.59%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC                  | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC                  | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2269929.20   | 0.43%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Digicel Holdings Bermuda Ltd.                                                               | Digicel Holdings Bermuda Ltd.                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     24783 | NS      | $44113.74     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Lumen Technologies, Inc.                                                                    | Lumen Technologies, Inc., First Lien, CME Term Loan, B1                                     | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   3984812 | PA      | $3942492.88   | 0.75%             | 2029-04-16      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Ltd.                                                          | Digicel International Finance Ltd., First Lien, CME Term Loan                               | CUSIP: G2761TAB0<br>LEI: N/A                  | Long             | LON              | CORP              | JM        |   1935757 | PA      | $1935408.86   | 0.37%             | 2027-05-25      | Variable      | 9.53%                 | No            |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                                               | TerraForm Power Operating LLC                                                               | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   1525000 | PA      | $1510504.42   | 0.29%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                                                            | CVS Health Corp.                                                                            | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4018710.28   | 0.77%             | 2054-12-10      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                                         | American Axle & Manufacturing, Inc.                                                         | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2747708.70   | 0.52%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kennedy-Wilson, Inc.                                                                        | Kennedy-Wilson, Inc.                                                                        | CUSIP: 489399AM7<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1353292.50   | 0.26%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                                         | Graphic Packaging International LLC                                                         | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2251916.16   | 0.43%             | 2030-02-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Frontier Issuer LLC                                                                         | Frontier Issuer LLC, Series 2023-1, Class B                                                 | CUSIP: 35910EAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2065495.20   | 0.39%             | 2053-08-20      | Fixed         | 8.30%                 | Yes           |                  2 | On Loan: No      |
| Pebblebrook Hotel LP / PEB Finance Corp.                                                    | Pebblebrook Hotel LP / PEB Finance Corp.                                                    | CUSIP: 70510LAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3018174.00   | 0.58%             | 2029-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Garrett Motion Holdings, Inc. / Garrett LX I SARL                                           | Garrett Motion Holdings, Inc. / Garrett LX I SARL                                           | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2605112.50   | 0.50%             | 2032-05-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Provident Funding Associates LP / PFG Finance Corp.                                         | Provident Funding Associates LP / PFG Finance Corp.                                         | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3156861.00   | 0.60%             | 2029-09-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                                              | NCL Corp. Ltd.                                                                              | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   6000000 | PA      | $6133520.94   | 1.17%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| JetBlue Airways Corp. / JetBlue Loyalty LP                                                  | JetBlue Airways Corp. / JetBlue Loyalty LP                                                  | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1947012.54   | 0.37%             | 2031-09-20      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Safeway, Inc.                                                                               | Safeway, Inc.                                                                               | CUSIP: 786514BA6<br>LEI: 549300NKZ6VCN5P3K723 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $3110991.98   | 0.59%             | 2031-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Open Text Corp.                                                                             | Open Text Corp.                                                                             | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   3375000 | PA      | $3182348.59   | 0.61%             | 2029-12-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| RFNA LP                                                                                     | RFNA LP                                                                                     | CUSIP: 74984AAA0<br>LEI: 2549002A4GSOTYKKHR45 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2048290.00   | 0.39%             | 2030-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Magnera Corp.                                                                               | Magnera Corp.                                                                               | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1887550.00   | 0.36%             | 2031-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                                      | Cleveland-Cliffs, Inc.                                                                      | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1887822.60   | 0.36%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                                             | CoreWeave, Inc.                                                                             | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2148685.01   | 0.41%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| ATS Corp.                                                                                   | ATS Corp.                                                                                   | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |   3900000 | PA      | $3732092.83   | 0.71%             | 2028-12-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance, Inc.                                                      | 1011778 BC ULC / New Red Finance, Inc.                                                      | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $932918.60    | 0.18%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Viasat, Inc.                                                                                | Viasat, Inc.                                                                                | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1300844.15   | 0.25%             | 2031-05-30      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                                           | Rocket Cos., Inc.                                                                           | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2039310.00   | 0.39%             | 2030-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| HAH Group Holding Co. LLC                                                                   | HAH Group Holding Co. LLC                                                                   | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2976384.60   | 0.57%             | 2031-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty LLC                                                                          | Ryan Specialty LLC                                                                          | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   3308000 | PA      | $3336137.85   | 0.64%             | 2032-08-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Cars.com, Inc.                                                                              | Cars.com, Inc.                                                                              | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2508340.00   | 0.48%             | 2028-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                                                           | Rocket Cos., Inc.                                                                           | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2561126.30   | 0.49%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                                         | Sirius XM Radio LLC                                                                         | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994060.75    | 0.19%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                                         | Graphic Packaging International LLC                                                         | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2044652.00   | 0.39%             | 2032-07-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Crown Americas LLC                                                                          | Crown Americas LLC                                                                          | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3022380.00   | 0.58%             | 2033-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Cogent Communications Group LLC                                                             | Cogent Communications Group LLC                                                             | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4524669.00   | 0.86%             | 2027-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| VZ Secured Financing BV                                                                     | VZ Secured Financing BV                                                                     | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |   1975000 | PA      | $1758635.59   | 0.34%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New Albertsons LP                                                                           | New Albertsons LP                                                                           | CUSIP: 013104AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1054438.00   | 0.20%             | 2026-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Watco Cos. LLC / Watco Finance Corp.                                                        | Watco Cos. LLC / Watco Finance Corp.                                                        | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3138168.00   | 0.60%             | 2032-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| AI Aqua Merger Sub, Inc.                                                                    | AI Aqua Merger Sub, Inc., First Lien, 2025 Refinancing CME Term Loan, B                     | CUSIP: 00132UAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2950100 | PA      | $2949244.51   | 0.56%             | 2028-07-31      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                                   | Standard Industries, Inc.                                                                   | CUSIP: 853496AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2695784.49   | 0.51%             | 2027-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ATI, Inc.                                                                                   | ATI, Inc.                                                                                   | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1760788.62   | 0.34%             | 2031-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                                            | CVS Health Corp.                                                                            | CUSIP: 126650BR0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   4925000 | PA      | $5068583.84   | 0.97%             | 2039-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Brookfield Residential Properties, Inc. / Brookfield Residential US LLC                     | Brookfield Residential Properties, Inc. / Brookfield Residential US LLC                     | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3000000 | PA      | $2680686.42   | 0.51%             | 2030-02-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                                        | Frontier Communications Holdings LLC                                                        | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4001176.00   | 0.76%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Deluxe Corp.                                                                                | Deluxe Corp.                                                                                | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2066636.00   | 0.39%             | 2029-09-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                           | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                           | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2606057.07   | 0.50%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| United Natural Foods, Inc.                                                                  | United Natural Foods, Inc.                                                                  | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1975923.94   | 0.38%             | 2028-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                                                      | HUB International Ltd.                                                                      | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3140860.29   | 0.60%             | 2032-01-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Neogen Food Safety Corp.                                                                    | Neogen Food Safety Corp.                                                                    | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3105546.00   | 0.59%             | 2030-07-20      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                                        | Ally Financial, Inc., Series B                                                              | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1937275.98   | 0.37%             | 2026-05-15      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                                                              | Olympus Water US Holding Corp.                                                              | CUSIP: 681639AB6<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955097.90    | 0.18%             | 2029-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                                                 | Acadia Healthcare Co., Inc.                                                                 | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3094446.00   | 0.59%             | 2033-03-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Unisys Corp.                                                                                | Unisys Corp.                                                                                | CUSIP: 909214BX5<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4123647.40   | 0.79%             | 2031-01-15      | Fixed         | 10.62%                | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                         | Rithm Capital Corp.                                                                         | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3033201.00   | 0.58%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Gates Corp.                                                                                 | Gates Corp.                                                                                 | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2079234.00   | 0.40%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** IMPAX FUNDS SERIES TRUST I

**Signature:** Daniel Saltus

**Name of Signer:** Daniel Saltus

**Title:** Treasurer