# EDGAR Filing Document

**Accession Number:** 0001420040
**File Stem:** 0001752724-25-162763
**Filing Date:** 2025-6
**Character Count:** 111724
**Document Hash:** 98efaabdc189bcf364370be5f440fdc5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-162763.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-162763

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dunham Funds
- **CENTRAL INDEX KEY:** 0001420040

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22153
- **FILM NUMBER:** 251089877

**BUSINESS ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122
- **BUSINESS PHONE:** 858-964-0500

**MAIL ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122

## Series and Classes Contracts Data

### Dunham Floating Rate Bond Fund (Series ID: S000042248)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000131123 | Dunham Floating Rate Bond Fund Class A | DAFRX           |
| C000131124 | Dunham Floating Rate Bond Fund Class C | DCFRX           |
| C000131125 | Dunham Floating Rate Bond Fund Class N | DNFRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Dunham Funds

- **b. Investment Company Act file number:** 811-22153

- **c. CIK number of Registrant:** 0001420040

- **d. LEI of Registrant:** 549300FI2C3SP4YCHL80

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

  - **Street Address 1:** 6256 Greenwich Dr

  - **City:** SAN DIEGO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92122

  - **Telephone number:** 858-964-0500

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

- **a. Name of Series:** Dunham Floating Rate Bond Fund

- **b. EDGAR series identifier (if any):** S000042248

- **c. LEI of Series:** 549300UGWNBB21ENNS29

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $177361715.46

**Total Liabilities:** $13827619.01

**Net Assets:** $163534096.45

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 20.22086800 | **10-Year:** 328.11221800 | **30-Year:** 0.00000000

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

- **3-Month:** 283.47941600 | **1-Year:** 7671.09797700 | **5-Year:** 39922.77563500 | **10-Year:** 12253.91694000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000131123 | 0.28%                | -0.95%               | -0.13%               |
| Class ID C000131124 | 0.24%                | -0.99%               | -0.18%               |
| Class ID C000131125 | 0.30%                | -0.93%               | -0.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $116195.76               | $-618368.79                                |
| Month 2  | $-108740.91              | $-2462141.74                               |
| Month 3  | $-1543960.17             | $48645.18                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Bread Financial Holdings Inc                                                           | BFH 9 3/4 03/15/29                   | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    223000 | PA      | $234645.05    | 0.14%             | 2029-03-15      | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| Ally Financial Inc.                                                                    | ALLY 6.646 01/17/40                  | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    525000 | PA      | $499769.08    | 0.31%             | 2040-01-17      | Fixed         | 6.65%                 | No            | 2                  | On Loan: —       |
| Altice Financing S.A.                                                                  | ALTICE 5 3/4 08/15/29                | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    330000 | PA      | $243813.14    | 0.15%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc.                                    | CAR 8 1/4 01/15/30                   | CUSIP: 053773BJ5<br>LEI: XN8R4HH1TVC1XOCL5P21 | Long             | DBT              | CORP              | US        |    525000 | PA      | $524183.63    | 0.32%             | 2030-01-15      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: —       |
| Bain Capital Credit CLO, Limit                                                         | BCC 2021-7A ER                       | CUSIP: 05682JAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2799198.00   | 1.71%             | 2035-01-22      | Floating      | 10.77%                | No            | 2                  | On Loan: No      |
| Bain Capital Credit Clo 2021-1 Ltd.                                                    | BCC 2021-1A ER                       | CUSIP: 05684MAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1436617.50   | 0.88%             | 2034-04-18      | Floating      | 10.57%                | Yes           | 2                  | On Loan: No      |
| BLUEMOUNTAIN CLO XXXIII LTD                                                            | BLUEM 2021-33A E                     | CUSIP: 09631AAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1981868.00   | 1.21%             | 2034-11-20      | Floating      | 11.41%                | Yes           | 2                  | On Loan: No      |
| Bluemountain Clo XXXII Ltd.                                                            | BLUEM 2021-32A ER                    | CUSIP: 09631FAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2139774.75   | 1.31%             | 2034-10-15      | Floating      | 10.86%                | Yes           | 2                  | On Loan: No      |
| Burford Capital Global Finance LLC                                                     | BURLN 6 7/8 04/15/30                 | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    236000 | PA      | $235719.02    | 0.14%             | 2030-04-15      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| Burford Capital Global Finance LLC                                                     | BURLN 9 1/4 07/01/31                 | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    109000 | PA      | $114961.65    | 0.07%             | 2031-07-01      | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| C&S Group Enterprises LLC                                                              | CSWHOL 5 12/15/28                    | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    571000 | PA      | $479508.27    | 0.29%             | 2028-12-15      | Fixed         | 5.00%                 | Yes           | 2                  | On Loan: No      |
| CSC Holdings, LLC                                                                      | CSCHLD 5 3/4 01/15/30                | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    500000 | PA      | $251170.00    | 0.15%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Cable One Inc                                                                          | CABO 4 11/15/30                      | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    626000 | PA      | $510485.66    | 0.31%             | 2030-11-15      | Fixed         | 4.00%                 | Yes           | 2                  | On Loan: —       |
| California Buyer Ltd.                                                                  | AY 6 3/8 02/15/32                    | CUSIP: 13005HAA8<br>LEI: 254900V5SMQ1UP1CLC26 | Long             | DBT              | CORP              | GB        |    525000 | PA      | $515725.67    | 0.32%             | 2032-02-15      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| Civitas Resources Inc                                                                  | CIVI 8 5/8 11/01/30                  | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    395000 | PA      | $381783.26    | 0.23%             | 2030-11-01      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| Cleveland-Cliffs Inc                                                                   | CLF 7 3/8 05/01/33                   | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    485000 | PA      | $456568.82    | 0.28%             | 2033-05-01      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: —       |
| Cloud Software Group Inc.                                                              | TIBX 8 1/4 06/30/32                  | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    210000 | PA      | $219173.73    | 0.13%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| Cobra Acquisitionco LLC                                                                | EXETFI 6 3/8 11/01/29                | CUSIP: 19106CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $401053.65    | 0.25%             | 2029-11-01      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| Delek Logistics Partners Lp                                                            | DKL 8 5/8 03/15/29                   | CUSIP: 24665FAD4<br>LEI: 549300UVYITDIU51P724 | Long             | DBT              | CORP              | US        |    350000 | PA      | $360518.90    | 0.22%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| Deluxe Corporation                                                                     | DLX 8 06/01/29                       | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    450000 | PA      | $413931.78    | 0.25%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: —       |
| Equipmentshare Com Inc.                                                                | EQMSRM 8 03/15/33                    | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494039.30    | 0.30%             | 2033-03-15      | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc.                    | FRTITA 6 3/4 01/15/30                | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    575000 | PA      | $503293.07    | 0.31%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: —       |
| Fidelity Colchester Street Trust                                                       | FID-MM GOVT-I                        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  10893753 | PA      | $10893753.12  | 6.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                       | GEL 7 7/8 05/15/32                   | CUSIP: 37185LAQ5<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    500000 | PA      | $487764.25    | 0.30%             | 2032-05-15      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| Magnera Corp.                                                                          | MAGN 4 3/4 11/15/29                  | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    575000 | PA      | $500962.54    | 0.31%             | 2029-11-15      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| HLF Financing SaRL LLC and Herbalife International Inc.                                | HLF 4 7/8 06/01/29                   | CUSIP: 40390DAC9<br>LEI: ST81INWBFR1E54KGC135 | Long             | DBT              | CORP              | US        |    509000 | PA      | $391240.05    | 0.24%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: —       |
| Helios Software Holdings Inc / Ion Corporate Solutions Finance SARL                    | IONCOR 4 5/8 05/01/28                | CUSIP: 42329HAA6<br>LEI: 2138002XO5EAYFHPPT53 | Long             | DBT              | CORP              | US        |    380000 | PA      | $342856.60    | 0.21%             | 2028-05-01      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| Hertz Corp.                                                                            | HTZ 4 5/8 12/01/26                   | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     47000 | PA      | $39110.76     | 0.02%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| Hilcorp Energy I L.P/Hilcorp Finance Co                                                | HILCRP 6 02/01/31                    | CUSIP: 431318AV6<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |    400000 | PA      | $360488.88    | 0.22%             | 2031-02-01      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| Hilton Grand Vacations Borrower Escrow LLC/ Hilton Grand Vacations Borrower Escrow Inc | HGVLLC 4 7/8 07/01/31                | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    582000 | PA      | $508274.99    | 0.31%             | 2031-07-01      | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: —       |
| Iliad Holding S.A.S.                                                                   | ILDFP 8 1/2 04/15/31                 | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $316648.50    | 0.19%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |
| Iliad Holding S.A.S.                                                                   | ILDFP 7 04/15/32                     | CUSIP: 449691AG9<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $202035.40    | 0.12%             | 2032-04-15      | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| ITT Holdings LLC                                                                       | INTMAT 6 1/2 08/01/29                | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    494000 | PA      | $451706.63    | 0.28%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| iHeartMedia Inc                                                                        | IHEARTMEDIA-CW39                     | CUSIP: 45174J145<br>LEI: N/A                  | Long             | DO               | CORP              | US        |     14905 | NS      | $19749.13     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Crescent Energy Finance LLC                                                            | CRGYFN 7 3/8 01/15/33                | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    305000 | PA      | $270191.84    | 0.17%             | 2033-01-15      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: —       |
| ION Trading Technologies S.a.r.l.                                                      | IONTRA 5 3/4 05/15/28                | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |    475000 | PA      | $428022.17    | 0.26%             | 2028-05-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Iris Escrow Issuer Corp                                                                | ITPCN 10 12/15/28                    | CUSIP: 462914AA0<br>LEI: 54930013SPZ2NB3I3V40 | Long             | DBT              | CORP              | US        |    400000 | PA      | $354060.76    | 0.22%             | 2028-12-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: —       |
| Kennedy Wilson Inc                                                                     | KW 4 3/4 03/01/29                    | CUSIP: 489399AL9<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    558000 | PA      | $503199.10    | 0.31%             | 2029-03-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| Kohl's Corp.                                                                           | KSS 3 3/8 05/01/31                   | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    394000 | PA      | $248000.13    | 0.15%             | 2031-05-01      | Fixed         | 4.62%                 | No            | 2                  | On Loan: —       |
| LFS TopCo LLC                                                                          | LENDMK 5 7/8 10/15/26                | CUSIP: 50203TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $288056.85    | 0.18%             | 2026-10-15      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| Vital Energy Inc                                                                       | VTLE 7 7/8 04/15/32                  | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    325000 | PA      | $252763.16    | 0.15%             | 2032-04-15      | Fixed         | 7.88%                 | Yes           | 2                  | On Loan: —       |
| Melco Resorts Finance Limited                                                          | MPEL 5 3/4 07/21/28                  | CUSIP: 58547DAE9<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $378256.98    | 0.23%             | 2028-07-21      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Mineral Resources Ltd.                                                                 | MINAU 8 1/2 05/01/30                 | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    336000 | PA      | $305515.36    | 0.19%             | 2030-05-01      | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: —       |
| Mineral Resources Ltd.                                                                 | MINAU 9 1/4 10/01/28                 | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    168000 | PA      | $159042.58    | 0.10%             | 2028-10-01      | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| MoneyGram International Inc.                                                           | MGI 9 06/01/30                       | CUSIP: 606950AA1<br>LEI: 5299002DLX0Q04KC4156 | Long             | DBT              | CORP              | US        |    545000 | PA      | $480021.50    | 0.29%             | 2030-06-01      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                              | NEP 7 1/4 01/15/29                   | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    525000 | PA      | $520311.23    | 0.32%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: —       |
| Park River Holdings Inc                                                                | PRIMBP 6 3/4 08/01/29                | CUSIP: 70082LAB3<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     77000 | PA      | $60969.43     | 0.04%             | 2029-08-01      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: —       |
| Rogers Communications Inc.                                                             | RCICN 7 04/15/55                     | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    152000 | PA      | $153055.50    | 0.09%             | 2055-04-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Rogers Communications Inc.                                                             | RCICN 7 1/8 04/15/55                 | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    353000 | PA      | $351646.58    | 0.22%             | 2055-04-15      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| Sable International Finance Limited                                                    | CWCLN 7 1/8 10/15/32                 | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    350000 | PA      | $344415.75    | 0.21%             | 2032-10-15      | Fixed         | 7.12%                 | Yes           | 2                  | On Loan: No      |
| Saks Global Enterprises LLC                                                            | SAKSGL 11 12/15/29                   | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $353623.54    | 0.22%             | 2029-12-15      | Fixed         | 11.00%                | Yes           | 2                  | On Loan: No      |
| Service Properties Trust                                                               | SVC 8 7/8 06/15/32                   | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    500000 | PA      | $482507.50    | 0.30%             | 2032-06-15      | Fixed         | 8.88%                 | No            | 2                  | On Loan: No      |
| Sirius Xm Radio Inc                                                                    | SIRI 4 1/8 07/01/30                  | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    575000 | PA      | $515190.74    | 0.32%             | 2030-07-01      | Fixed         | 4.12%                 | Yes           | 2                  | On Loan: No      |
| Star Leasing Co LLC                                                                    | TRAILR 7 5/8 02/15/30                | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |    514000 | PA      | $461217.44    | 0.28%             | 2030-02-15      | Fixed         | 7.62%                 | Yes           | 2                  | On Loan: No      |
| TEXAS COMPETITIVE/TCEH                                                                 | TXU 11 1/2 10/01/20                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    635000 | PA      | $0.00         | 0.00%             | 2049-11-22      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury Bills                                                           | B 05/13/25                           | CUSIP: 912797PH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $998595.83    | 0.61%             | 2025-05-13      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| VFH Parent LLC & Valor Co-Issuer Inc.                                                  | VIRT 7 1/2 06/15/31                  | CUSIP: 91824YAA6<br>LEI: 549300FRO9M476YHHY64 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513737.00    | 0.31%             | 2031-06-15      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| Venture Global LNG Inc.                                                                | VENLNG 8 3/8 06/01/31                | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    389000 | PA      | $376461.01    | 0.23%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| ViaSat, Inc.                                                                           | VSAT 7 1/2 05/30/31                  | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    520000 | PA      | $396460.90    | 0.24%             | 2031-05-30      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: —       |
| Paramount Global                                                                       | VIAC 6 1/4 02/28/57                  | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    525000 | PA      | $486229.43    | 0.30%             | 2057-02-28      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| Wind River 2019-3 Clo Ltd / Llc                                                        | WINDR 2019-3A E2R                    | CUSIP: 97314GAC5<br>LEI: 549300QKM4OHZM4I5C40 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1679254.50   | 1.03%             | 2031-04-15      | Floating      | 11.27%                | Yes           | 2                  | On Loan: No      |
| N/A                                                                                    | MOUNT VERNON LIQUID ASSETS PORTFOLIO | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                                                                    | PGN TL B 1LD                         | CUSIP: G6903KAB9<br>LEI: N/A                  | Long             | LON              | CORP              | N/A       |      1140 | PA      | $0.00         | 0.00%             | 2022-07-15      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| CSC Holdings, LLC                                                                      | CSCHLD TL 1LD                        | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   1167955 | PA      | $1139404.49   | 0.70%             | 2025-07-17      | Variable      | 9.30%                 | No            | 2                  | On Loan: No      |
| Altice France                                                                          | SFRFP TL B12 1LD                     | CUSIP: F6628DAN4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    824230 | PA      | $745310.38    | 0.46%             | 2026-01-09      | Variable      | 10.16%                | No            | 2                  | On Loan: No      |
| VeriFone                                                                               | PAY TL 1LD                           | CUSIP: 92346NAB5<br>LEI: 254900LTTVM8MM9RKV75 | Long             | LON              | CORP              | US        |   1074762 | PA      | $958101.96    | 0.59%             | 2025-08-20      | Variable      | 9.33%                 | No            | 2                  | On Loan: No      |
| Focus Financial                                                                        | PFCB TL B 1L USD                     | CUSIP: N/A<br>LEI: 5493007L0E0VKRC2CP39       | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2026-03-01      | Variable      | 11.04%                | No            | 2                  | On Loan: No      |
| Corel Corp                                                                             | CRECN TL B 1L USD                    | CUSIP: 21871LAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    555882 | PA      | $526281.61    | 0.32%             | 2026-07-02      | Variable      | 10.16%                | No            | 2                  | On Loan: No      |
| DigiCert                                                                               | DIGICT TL 1LD                        | CUSIP: 24022KAB5<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |    578680 | PA      | $561722.02    | 0.34%             | 2026-08-08      | Variable      | 8.69%                 | No            | 2                  | On Loan: No      |
| CSC Holdings (Cablevision/Altice USA)                                                  | CSCHLD TL B5 1L                      | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    500000 | PA      | $482467.50    | 0.30%             | 2027-04-15      | Variable      | 2.61%                 | No            | 2                  | On Loan: No      |
| Telesat Canada                                                                         | TELSAT TL B5 1LD                     | CUSIP: 87951YAU5<br>LEI: 5493004V5GLBY6SO5Y34 | Long             | LON              | CORP              | US        |    701429 | PA      | $389075.41    | 0.24%             | 2026-12-06      | Variable      | 7.81%                 | No            | 2                  | On Loan: No      |
| Zayo Group                                                                             | ZAYO TL B 1LD                        | CUSIP: 98919XAB7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1866250.00   | 1.14%             | 2027-02-21      | Variable      | 3.12%                 | No            | 2                  | On Loan: No      |
| Gainwell Technologies (fka Milano Acqusition/DXC State & Local HHS)                    | MILACQ TL 1L USD                     | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1756891 | PA      | $1639126.96   | 1.00%             | 2027-08-17      | Variable      | 8.70%                 | No            | 2                  | On Loan: No      |
| Virgin Media                                                                           | VMED TL Q 1L USD                     | CUSIP: G9368PBE3<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1255000 | PA      | $1239381.53   | 0.76%             | 2029-01-10      | Variable      | 8.17%                 | No            | 2                  | On Loan: No      |
| Consumer Cellular                                                                      | CONCEL TL B 1L USD                   | CUSIP: 12510EAC1<br>LEI: 254900TMV7DAFRQALU04 | Long             | LON              | CORP              | US        |    871724 | PA      | $873161.98    | 0.53%             | 2027-12-12      | Variable      | 8.30%                 | No            | 2                  | On Loan: No      |
| Park River Holdings (fka PrimeSource and Dimora)                                       | PRIMBP TL B 1L USD                   | CUSIP: 70082HAC0<br>LEI: 254900PGY077KWCROT75 | Long             | LON              | CORP              | US        |    999557 | PA      | $944426.84    | 0.58%             | 2028-01-22      | Variable      | 8.10%                 | No            | 2                  | On Loan: No      |
| Asurion                                                                                | ASUCOR TL B9 1L USD                  | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    648638 | PA      | $635577.28    | 0.39%             | 2027-07-28      | Variable      | 8.05%                 | No            | 2                  | On Loan: No      |
| Asurion                                                                                | ASUCOR TL B3 2L USD                  | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    855000 | PA      | $801408.60    | 0.49%             | 2028-01-29      | Variable      | 9.69%                 | No            | 2                  | On Loan: No      |
| Peraton (fka Magnolia)                                                                 | PERCOR TL B 1L USD                   | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1154271 | PA      | $1044407.37   | 0.64%             | 2028-02-24      | Variable      | 8.17%                 | No            | 2                  | On Loan: No      |
| RealPage                                                                               | RP TL B 1L USD                       | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |    753305 | PA      | $747101.35    | 0.46%             | 2028-02-18      | Variable      | 7.56%                 | No            | 2                  | On Loan: No      |
| DigiCert                                                                               | DIGICT TL 2L USD                     | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |    600000 | PA      | $497250.00    | 0.30%             | 2029-02-16      | Variable      | 11.69%                | No            | 2                  | On Loan: No      |
| Petco Animal Supplies                                                                  | WOOF TL B 1L USD                     | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |   1033943 | PA      | $905248.22    | 0.55%             | 2028-02-25      | Variable      | 8.12%                 | No            | 2                  | On Loan: No      |
| Apollo Commercial Real Estate Finance                                                  | ARI TL B1 1L USD                     | CUSIP: 03768DAC1<br>LEI: 549300E0AN7M2AQHSY29 | Long             | LON              | CORP              | US        |   1167053 | PA      | $1155382.56   | 0.71%             | 2028-03-11      | Variable      | 8.30%                 | No            | 2                  | On Loan: No      |
| PODS                                                                                   | PODLLC TL B 1L USD                   | CUSIP: 73044EAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    941787 | PA      | $873676.91    | 0.53%             | 2028-03-19      | Variable      | 7.85%                 | No            | 2                  | On Loan: No      |
| Peraton Corp                                                                           | PERCOR TL 2L USD                     | CUSIP: 71360HAF4<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    500000 | PA      | $380875.00    | 0.23%             | 2029-02-01      | Variable      | 12.18%                | No            | 2                  | On Loan: No      |
| First Brands (Trico Group)                                                             | TRICGR TL B 1L USD                   | CUSIP: 31935HAD9<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |    938091 | PA      | $874605.75    | 0.53%             | 2027-03-24      | Variable      | 9.55%                 | No            | 2                  | On Loan: No      |
| Parts Authority                                                                        | PAIHOL TL 1L USD                     | CUSIP: 69315JAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    889834 | PA      | $694960.60    | 0.42%             | 2027-10-28      | Variable      | 8.60%                 | No            | 2                  | On Loan: No      |
| Allied Universal                                                                       | UNSEAM TL B 1L USD                   | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    890014 | PA      | $890182.83    | 0.54%             | 2028-05-05      | Variable      | 8.17%                 | No            | 2                  | On Loan: No      |
| Osmose Utilities Services                                                              | OSMOSE TL 1L USD                     | CUSIP: 68835HAH3<br>LEI: 549300FSLVHLFZ3S0D82 | Long             | LON              | CORP              | US        |    644987 | PA      | $638537.28    | 0.39%             | 2028-06-17      | Variable      | 8.05%                 | No            | 2                  | On Loan: No      |
| Hertz                                                                                  | HTZ TL B-EXIT 1L USD                 | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |   1050265 | PA      | $817894.16    | 0.50%             | 2028-06-14      | Variable      | 7.94%                 | No            | 2                  | On Loan: No      |
| Hertz Corp.                                                                            | HTZ TL C-EXIT 1L USD                 | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    205647 | PA      | $160147.25    | 0.10%             | 2028-06-14      | Variable      | 7.94%                 | No            | 2                  | On Loan: No      |
| Solmax                                                                                 | GROUSL TL 1L USD                     | CUSIP: C4127PAB7<br>LEI: 549300UUEKZ3HF9FNI46 | Long             | LON              | CORP              | US        |    960702 | PA      | $800384.63    | 0.49%             | 2028-07-23      | Variable      | 9.55%                 | No            | 2                  | On Loan: No      |
| Asurion                                                                                | ASUCOR TL B4 2L USD                  | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    365000 | PA      | $336256.25    | 0.21%             | 2029-01-14      | Variable      | 9.69%                 | No            | 2                  | On Loan: No      |
| Sitel Group                                                                            | SITEL TL B 1L USD                    | CUSIP: 82981MAC6<br>LEI: 5493007DS8CM3ZGION43 | Long             | LON              | CORP              | US        |   1142443 | PA      | $647559.71    | 0.40%             | 2028-07-29      | Variable      | 8.18%                 | No            | 2                  | On Loan: No      |
| Specialty Building Products                                                            | SBPLLC TL B 1L USD                   | CUSIP: 84748EAF7<br>LEI: 549300ICFD46O3KMJC06 | Long             | LON              | CORP              | US        |   1243470 | PA      | $1166549.30   | 0.71%             | 2028-10-05      | Variable      | 7.87%                 | No            | 2                  | On Loan: No      |
| Vantage Elevator Solutions                                                             | VNTELV TL 1L USD                     | CUSIP: 92643PAB0<br>LEI: 549300G9TEUHGC81N056 | Long             | LON              | CORP              | US        |    807342 | PA      | $783376.34    | 0.48%             | 2028-11-10      | Variable      | 8.22%                 | No            | 2                  | On Loan: No      |
| Claros Mortgage Trust                                                                  | CMTGTL TL B 1L USD                   | CUSIP: 18269PAC6<br>LEI: 549300Z9LU2CZ3K30C16 | Long             | LON              | CORP              | US        |   1160278 | PA      | $1097912.60   | 0.67%             | 2026-08-09      | Variable      | 9.29%                 | No            | 2                  | On Loan: No      |
| DiversiTech                                                                            | DIVTEC TL B 1L USD                   | CUSIP: 45114NAB3<br>LEI: 254900DLB65AKI8CQ466 | Long             | LON              | CORP              | US        |    654908 | PA      | $653912.26    | 0.40%             | 2028-12-22      | Variable      | 8.62%                 | No            | 2                  | On Loan: No      |
| DiversiTech                                                                            | DIVTEC TL B 2L USD                   | CUSIP: 45114NAF4<br>LEI: 254900DLB65AKI8CQ466 | Long             | LON              | CORP              | US        |    179825 | PA      | $178757.30    | 0.11%             | 2029-12-15      | Variable      | 11.62%                | No            | 2                  | On Loan: No      |
| RelaDyne                                                                               | RELDYN TL 1L USD                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    643516 | PA      | $643355.37    | 0.39%             | 2028-12-23      | Variable      | 8.32%                 | No            | 2                  | On Loan: No      |
| athenahealth                                                                           | ATHENA TL 1L USD                     | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   1116381 | PA      | $1108884.35   | 0.68%             | 2029-01-27      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| N/A                                                                                    | FOLPRO TL 1L USD                     | CUSIP: 34430DAC4<br>LEI: N/A                  | Long             | LON              | CORP              | N/A       |    785952 | PA      | $789225.46    | 0.48%             | 2029-02-10      | Variable      | 9.50%                 | No            | 2                  | On Loan: No      |
| ViaSat                                                                                 | VSAT TL B 1L USD                     | CUSIP: 92555WAD7<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |   1186511 | PA      | $1116471.46   | 0.68%             | 2029-02-24      | Variable      | 9.19%                 | No            | 2                  | On Loan: No      |
| Novolex                                                                                | NOVHOL TL 1L USD                     | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    968056 | PA      | $962552.32    | 0.59%             | 2029-03-30      | Variable      | 7.86%                 | No            | 2                  | On Loan: No      |
| Blackstone Mortgage Trust                                                              | BXMT TL B4 1L USD                    | CUSIP: 09259GAF0<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    354179 | PA      | $352850.84    | 0.22%             | 2029-05-02      | Variable      | 3.81%                 | No            | 2                  | On Loan: No      |
| Intertape Polymer                                                                      | ITPCN TL 1L USD                      | CUSIP: 46271BAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    741199 | PA      | $698580.04    | 0.43%             | 2028-06-15      | Variable      | 9.90%                 | No            | 2                  | On Loan: No      |
| Univision Communications/Televisa                                                      | UVN TL B 1L USD                      | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |   1095019 | PA      | $1064566.79   | 0.65%             | 2029-06-10      | Variable      | 8.85%                 | No            | 2                  | On Loan: No      |
| Covetrus Inc                                                                           | CORBID TL 1L USD                     | CUSIP: 22304EAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    860810 | PA      | $811446.41    | 0.50%             | 2029-09-20      | Variable      | 9.60%                 | No            | 2                  | On Loan: No      |
| Nielsen                                                                                | NLSN TL B 1L USD                     | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   2723015 | PA      | $2410644.74   | 1.47%             | 2029-04-11      | Variable      | 9.76%                 | No            | 2                  | On Loan: No      |
| Spirit AeroSystems                                                                     | SPR TL B 1L USD                      | CUSIP: 84857HAY6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | LON              | CORP              | US        |    720834 | PA      | $722113.20    | 0.44%             | 2027-11-23      | Variable      | 8.79%                 | No            | 2                  | On Loan: No      |
| Altice International                                                                   | ALTICE TL B 1L USD                   | CUSIP: L0178UAM8<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | US        |   1462214 | PA      | $1196821.97   | 0.73%             | 2027-10-31      | Variable      | 9.66%                 | No            | 2                  | On Loan: No      |
| First Brands (Trico Group)                                                             | TRICGR TL 1L USD                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    708792 | PA      | $660505.76    | 0.40%             | 2027-03-30      | Variable      | 9.55%                 | No            | 2                  | On Loan: No      |
| Altice France                                                                          | SFRFP TL B14 1L USD                  | CUSIP: F6628DAN4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    543272 | PA      | $491253.33    | 0.30%             | 2028-08-31      | Variable      | 10.16%                | No            | 2                  | On Loan: No      |
| Sedgwick CMS                                                                           | SEDGEW TL B 1L USD                   | CUSIP: N/A<br>LEI: 549300BIN4DWJG5VWF64       | Long             | LON              | CORP              | US        |    912133 | PA      | $908926.87    | 0.56%             | 2028-02-17      | Variable      | 7.31%                 | No            | 2                  | On Loan: No      |
| One Toronto Gaming                                                                     | ONGAME TL B 1L USD                   | CUSIP: C6907UAB7<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | US        |    983790 | PA      | $954522.52    | 0.58%             | 2030-07-20      | Variable      | 8.55%                 | No            | 2                  | On Loan: No      |
| Jp Intermediate B Llc                                                                  | JUICEP TL 1L USD                     | CUSIP: 46650KAE1<br>LEI: 549300PC0CHCVUMNS121 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2027-11-20      | Variable      | 14.50%                | No            | 2                  | On Loan: No      |
| Fogo de Chao                                                                           | FOGO TL B 1L USD                     | CUSIP: 05553QAB8<br>LEI: 549300MOPGNZTXUHVM05 | Long             | LON              | CORP              | US        |    950912 | PA      | $881970.52    | 0.54%             | 2030-09-21      | Variable      | 9.11%                 | No            | 2                  | On Loan: No      |
| Syneos Health fka INC Research/inVentiv Health                                         | SYNH TL B 1L USD                     | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |    811900 | PA      | $787039.14    | 0.48%             | 2030-09-19      | Variable      | 8.30%                 | No            | 2                  | On Loan: No      |
| Forward Air                                                                            | FWRD TL B 1L USD                     | CUSIP: 18948EAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    855045 | PA      | $775076.49    | 0.47%             | 2030-12-19      | Variable      | 9.02%                 | No            | 2                  | On Loan: No      |
| Spring Education Group                                                                 | SSHGRO TL 1L USD                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    479784 | PA      | $479285.32    | 0.29%             | 2030-09-29      | Variable      | 8.60%                 | No            | 2                  | On Loan: No      |
| Ryan LLC                                                                               | RYNLLC TL 1L USD                     | CUSIP: N/A<br>LEI: 549300TG86D8HZC6TE67       | Long             | LON              | CORP              | US        |    368333 | PA      | $367918.31    | 0.22%             | 2030-11-09      | Variable      | 7.82%                 | No            | 2                  | On Loan: No      |
| ROSEN Group                                                                            | ROSGRP TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    673065 | PA      | $672055.36    | 0.41%             | 2031-02-24      | Variable      | 7.60%                 | No            | 2                  | On Loan: No      |
| American Airlines                                                                      | AAL TL B 1L USD                      | CUSIP: N/A<br>LEI: IWUQB36BXD6OWD6X4T14       | Long             | LON              | CORP              | US        |    534555 | PA      | $520635.40    | 0.32%             | 2029-05-29      | Variable      | 7.21%                 | No            | 2                  | On Loan: No      |
| Dave & Buster's Entertainment                                                          | PLAY TL B 1L USD                     | CUSIP: 23833EAX2<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | LON              | CORP              | US        |    640406 | PA      | $596486.84    | 0.36%             | 2029-06-29      | Variable      | 7.94%                 | No            | 2                  | On Loan: No      |
| NGL Energy Operating                                                                   | NGL TL B 1L USD                      | CUSIP: N/A<br>LEI: 5493008CQD36WWZJ3O79       | Long             | LON              | CORP              | US        |    115048 | PA      | $109511.73    | 0.07%             | 2031-01-27      | Variable      | 8.44%                 | No            | 2                  | On Loan: No      |
| Refresco                                                                               | REFRLN TL B 1L USD                   | CUSIP: N6872PAK7<br>LEI: 254900U303DPAFR7MA71 | Long             | LON              | CORP              | US        |    825581 | PA      | $825064.60    | 0.50%             | 2029-07-12      | Variable      | 7.85%                 | No            | 2                  | On Loan: No      |
| Wood Mackenzie                                                                         | WMCOGB TL B 1L USD                   | CUSIP: N/A<br>LEI: 254900ZE51SEX2EFFH74       | Long             | LON              | CORP              | US        |    286423 | PA      | $285313.44    | 0.17%             | 2031-01-31      | Variable      | 8.02%                 | No            | 2                  | On Loan: No      |
| UKG                                                                                    | ULTI TL B 1L USD                     | CUSIP: N/A<br>LEI: 529900FKHWSTQ1GXK240       | Long             | LON              | CORP              | US        |    762792 | PA      | $761060.17    | 0.47%             | 2031-01-31      | Variable      | 7.30%                 | No            | 2                  | On Loan: No      |
| Clarivate Analytics (Thomson Reuters IP&S)                                             | CCC TL B 1L USD                      | CUSIP: L2000AAF7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    654190 | PA      | $646829.92    | 0.40%             | 2031-01-31      | Variable      | 8.09%                 | No            | 2                  | On Loan: No      |
| WestJet Airlines                                                                       | WJACN TL B 1L USD                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1096698 | PA      | $1047862.00   | 0.64%             | 2031-02-01      | Variable      | 7.55%                 | No            | 2                  | On Loan: No      |
| Crash Champions                                                                        | CRASHC TL B 1L USD                   | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |   1146226 | PA      | $1029694.53   | 0.63%             | 2029-02-23      | Variable      | 9.85%                 | No            | 2                  | On Loan: No      |
| Cotiviti Inc                                                                           | VCVHHO TL B 1L USD                   | CUSIP: 22164MAE7<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    584374 | PA      | $573782.09    | 0.35%             | 2031-02-24      | Variable      | 7.07%                 | No            | 2                  | On Loan: No      |
| Ellucian                                                                               | DAEL TL B 1L USD                     | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |     86761 | PA      | $86528.87     | 0.05%             | 2029-10-26      | Variable      | 8.29%                 | No            | 2                  | On Loan: No      |
| Groundworks Cos                                                                        | GRWORK TL B 1L USD                   | CUSIP: 39954EAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    511210 | PA      | $506952.00    | 0.31%             | 2031-03-06      | Variable      | 8.05%                 | No            | 2                  | On Loan: No      |
| Groundworks Llc                                                                        | GRWORK TL DD 1L USD                  | CUSIP: 39954EAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     94685 | PA      | $93896.30     | 0.06%             | 2031-03-06      | Variable      | 0.50%                 | No            | 2                  | On Loan: No      |
| Fertitta Entertainment (fka Golden Nugget)                                             | NUGGET TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    593878 | PA      | $579960.04    | 0.35%             | 2029-01-29      | Variable      | 8.85%                 | No            | 2                  | On Loan: No      |
| TK Elevator (fka Thyssenkrupp Elevator)                                                | THYELE TL B 1L USD                   | CUSIP: D9000BAJ1<br>LEI: 254900K869UN2ZWVB351 | Long             | LON              | CORP              | US        |   1345983 | PA      | $1342369.31   | 0.82%             | 2030-04-11      | Variable      | 8.59%                 | No            | 2                  | On Loan: No      |
| Stubhub (Viagogo)                                                                      | PUGLLC TL B 1L USD                   | CUSIP: 74530DAH8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1127193 | PA      | $1112753.99   | 0.68%             | 2030-03-12      | Variable      | 9.07%                 | No            | 2                  | On Loan: No      |
| SunSource Holdings                                                                     | STSOPE TL 1L USD                     | CUSIP: 12508KAJ6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    853973 | PA      | $825510.12    | 0.50%             | 2031-03-17      | Variable      | 8.79%                 | No            | 2                  | On Loan: No      |
| LifePoint Health                                                                       | RGCARE TL B 1L USD                   | CUSIP: 75915TAK8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    498750 | PA      | $490333.59    | 0.30%             | 2028-11-16      | Variable      | 8.41%                 | No            | 2                  | On Loan: No      |
| Rackspace Technology Global Incorporated                                               | RAX TL B 1L USD                      | CUSIP: 75008UAC1<br>LEI: 549300QTYCKLMFSE8I97 | Long             | LON              | CORP              | US        |    914375 | PA      | $377408.45    | 0.23%             | 2028-05-15      | Variable      | 7.50%                 | No            | 2                  | On Loan: No      |
| Quikrete                                                                               | QUIKHO TL B 1L USD                   | CUSIP: 74839XAK5<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    468899 | PA      | $462428.02    | 0.28%             | 2029-03-26      | Variable      | 6.61%                 | No            | 2                  | On Loan: No      |
| SupplyOne                                                                              | SUPONE TL B 1L USD                   | CUSIP: 86859CAN4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    755451 | PA      | $752146.20    | 0.46%             | 2031-03-27      | Variable      | 8.44%                 | No            | 2                  | On Loan: No      |
| Tekni-Plex                                                                             | TEKNI TL B6 1L USD                   | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    579082 | PA      | $561248.84    | 0.34%             | 2028-09-18      | Variable      | 8.19%                 | No            | 2                  | On Loan: No      |
| Herbalife                                                                              | HLF TL B 1L USD                      | CUSIP: 40421YAG7<br>LEI: 549300VKVJUV5OGV2R51 | Long             | LON              | CORP              | US        |    877561 | PA      | $875762.12    | 0.54%             | 2029-04-05      | Variable      | 11.44%                | No            | 2                  | On Loan: No      |
| International-Matex Tank Terminals                                                     | INTMAT TL B 1L USD                   | CUSIP: N/A<br>LEI: 549300TH2PHOLK31LB42       | Long             | LON              | CORP              | US        |    596985 | PA      | $593534.35    | 0.36%             | 2030-10-11      | Variable      | 7.61%                 | No            | 2                  | On Loan: No      |
| Cushman & Wakefield                                                                    | CWK TL B 1L USD                      | CUSIP: 23340DAU6<br>LEI: 549300870CMN3WI5IF97 | Long             | LON              | CORP              | US        |    576338 | PA      | $577300.24    | 0.35%             | 2030-01-31      | Variable      | 7.94%                 | No            | 2                  | On Loan: No      |
| Presidio                                                                               | PSDO TL B 1L USD                     | CUSIP: 34966LAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    646803 | PA      | $634675.67    | 0.39%             | 2031-05-09      | Variable      | 8.07%                 | No            | 2                  | On Loan: No      |
| Prometric                                                                              | PROMET TL B 1L USD                   | CUSIP: 80358TAF3<br>LEI: 54930034OH1XQT27TX40 | Long             | LON              | CORP              | US        |    588395 | PA      | $590601.15    | 0.36%             | 2028-01-31      | Variable      | 9.19%                 | No            | 2                  | On Loan: No      |
| BroadStreet Partners                                                                   | BROPAR TL B4 1L USD                  | CUSIP: 11132VAY5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    863199 | PA      | $860216.36    | 0.53%             | 2031-05-12      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Goodnight Midstream                                                                    | GNWSOL TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    612625 | PA      | $603435.63    | 0.37%             | 2029-06-04      | Variable      | 9.94%                 | No            | 2                  | On Loan: No      |
| Epicor                                                                                 | EGLPT TL 1L USD                      | CUSIP: N/A<br>LEI: JGNXVGGGXR4O1L5I7S73       | Long             | LON              | CORP              | US        |    632129 | PA      | $629904.23    | 0.39%             | 2031-05-23      | Variable      | 7.11%                 | No            | 2                  | On Loan: No      |
| Proofpoint                                                                             | PFPT TL B 1L USD                     | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    898667 | PA      | $894344.18    | 0.55%             | 2028-08-31      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| MoneyGram International                                                                | MGI TL B 1L USD                      | CUSIP: 60935QAT3<br>LEI: 5299002DLX0Q04KC4156 | Long             | LON              | CORP              | US        |    853381 | PA      | $780932.88    | 0.48%             | 2030-06-03      | Variable      | 9.68%                 | No            | 2                  | On Loan: No      |
| Gulfeagle Supply                                                                       | GULSUP TL B 1L USD                   | CUSIP: 40273UAE9<br>LEI: 5493009BEGVKVXE2HW08 | Long             | LON              | CORP              | US        |    491218 | PA      | $488147.75    | 0.30%             | 2031-05-29      | Variable      | 7.78%                 | No            | 2                  | On Loan: No      |
| Sotera Health (fka Sterigenics Nordin)                                                 | STENOR TL B 1L USD                   | CUSIP: 83600VAG6<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |    732591 | PA      | $732136.62    | 0.45%             | 2031-05-23      | Variable      | 7.84%                 | No            | 2                  | On Loan: No      |
| Ryan LLC                                                                               | RYNLLC TL 1L USD                     | CUSIP: N/A<br>LEI: 549300TG86D8HZC6TE67       | Long             | LON              | CORP              | US        |    518515 | PA      | $517931.31    | 0.32%             | 2030-11-14      | Variable      | 8.18%                 | No            | 2                  | On Loan: No      |
| US LBM                                                                                 | USLBMH TL B 1L USD                   | CUSIP: 50179JAH1<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |   1253382 | PA      | $1190192.30   | 0.73%             | 2031-06-06      | Variable      | 8.67%                 | No            | 2                  | On Loan: No      |
| Iridium Satellite                                                                      | IRDM TL B4 1L USD                    | CUSIP: 46269KAT1<br>LEI: 549300U620NVQ4J1CT96 | Long             | LON              | CORP              | US        |    746222 | PA      | $741151.08    | 0.45%             | 2030-09-20      | Variable      | 6.94%                 | No            | 2                  | On Loan: No      |
| Harbor Freight                                                                         | HARFRE TL B 1L USD                   | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |    920375 | PA      | $859188.47    | 0.53%             | 2031-06-05      | Variable      | 6.82%                 | No            | 2                  | On Loan: No      |
| White Cap                                                                              | WHTCAP TL B 1L USD                   | CUSIP: 96350TAH3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    826057 | PA      | $807251.37    | 0.49%             | 2029-10-31      | Variable      | 7.94%                 | No            | 2                  | On Loan: No      |
| Scientific Games Lottery                                                               | SCGALO TL B 1L USD                   | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |   1037050 | PA      | $1029272.13   | 0.63%             | 2029-04-04      | Variable      | 7.59%                 | No            | 2                  | On Loan: No      |
| Veritiv Corp                                                                           | VRTV TL B 1L USD                     | CUSIP: N/A<br>LEI: 2549004HFEKMUGBG3Z35       | Long             | LON              | CORP              | US        |    770972 | PA      | $765976.11    | 0.47%             | 2030-12-02      | Variable      | 8.31%                 | No            | 2                  | On Loan: No      |
| PF Chang's China Bistro                                                                | PFCB TL B 1L USD                     | CUSIP: 69345YAB0<br>LEI: 549300W0W5UC5TZ74678 | Long             | LON              | CORP              | US        |     56301 | PA      | $54576.67     | 0.03%             | 2029-09-28      | Variable      | 10.76%                | No            | 2                  | On Loan: No      |
| JD Power (fka Autodata)                                                                | AUTDAT TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    592066 | PA      | $587871.16    | 0.36%             | 2031-07-02      | Variable      | 7.31%                 | No            | 2                  | On Loan: No      |
| BMC Software                                                                           | BMC TL 2L USD                        | CUSIP: 05988HAL1<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    233642 | PA      | $221570.08    | 0.14%             | 2032-07-06      | Variable      | 10.04%                | No            | 2                  | On Loan: No      |
| NGP Midstream                                                                          | NGPXIM TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    275901 | PA      | $273141.50    | 0.17%             | 2031-07-21      | Variable      | 8.60%                 | No            | 2                  | On Loan: No      |
| NGL Energy Operating                                                                   | NGL TL B 1L USD                      | CUSIP: N/A<br>LEI: 5493008CQD36WWZJ3O79       | Long             | LON              | CORP              | US        |    700000 | PA      | $666316.00    | 0.41%             | 2031-02-03      | Variable      | 8.44%                 | No            | 2                  | On Loan: No      |
| Ahead DB Holdings                                                                      | AHEDBB TL B3 1L USD                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    362813 | PA      | $360942.81    | 0.22%             | 2031-02-03      | Variable      | 7.30%                 | No            | 2                  | On Loan: No      |
| Greystar Real Estate Partners                                                          | GRSTAR TL B1 1L USD                  | CUSIP: 39806LAD9<br>LEI: 254900HGC806SXAS4M46 | Long             | LON              | CORP              | US        |    823963 | PA      | $820872.67    | 0.50%             | 2030-08-21      | Variable      | 7.49%                 | No            | 2                  | On Loan: No      |
| Amentum (AECOM management business)                                                    | AECMAN TL B 1L USD                   | CUSIP: 02351XAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    455532 | PA      | $450765.27    | 0.28%             | 2031-07-30      | Variable      | 6.94%                 | No            | 2                  | On Loan: No      |
| Howden Group Holdings (fka Hyperion)                                                   | HYPINS TL B 1L USD                   | CUSIP: G4712JAZ5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    333429 | PA      | $334137.17    | 0.20%             | 2030-04-18      | Variable      | 7.82%                 | No            | 2                  | On Loan: No      |
| World Choice Investments                                                               | SHOACQ TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1097250 | PA      | $1099993.13   | 0.67%             | 2031-08-13      | Variable      | 10.03%                | No            | 2                  | On Loan: No      |
| Argus Media                                                                            | ARGMED TL B 1L USD                   | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    443823 | PA      | $442713.01    | 0.27%             | 2031-02-10      | Variable      | 7.58%                 | No            | 2                  | On Loan: No      |
| Alliance Laundry Systems                                                               | ALH TL B 1L USD                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    448608 | PA      | $446001.92    | 0.27%             | 2031-08-11      | Variable      | 8.19%                 | No            | 2                  | On Loan: No      |
| Third Coast Midstream                                                                  | LIGHTH TL B 1L USD                   | CUSIP: 88412KAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1184137 | PA      | $1160454.51   | 0.71%             | 2030-09-20      | Variable      | 8.94%                 | No            | 2                  | On Loan: No      |
| LifePoint Health                                                                       | RGCARE TL B 1L USD                   | CUSIP: 75915TAK8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    423938 | PA      | $416783.55    | 0.25%             | 2031-05-14      | Variable      | 8.05%                 | No            | 2                  | On Loan: No      |
| Alliant Holdings                                                                       | ALIANT TL B6 1L USD                  | CUSIP: 01881UAM7<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |    888939 | PA      | $883800.92    | 0.54%             | 2031-09-12      | Variable      | 7.07%                 | No            | 2                  | On Loan: No      |
| Asurion                                                                                | ASUCOR TL B12 1L USD                 | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1044839 | PA      | $1001577.65   | 0.61%             | 2030-09-19      | Variable      | 8.94%                 | No            | 2                  | On Loan: No      |
| Creative Artists                                                                       | CREART TL B 1L USD                   | CUSIP: 22526WAS7<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |    629114 | PA      | $627034.57    | 0.38%             | 2031-09-12      | Variable      | 7.11%                 | No            | 2                  | On Loan: No      |
| DRAGON BUYER, INC.                                                                     | DRABUY TL 1L USD                     | CUSIP: 26143FAB5<br>LEI: N/A                  | Long             | LON              | CORP              | N/A       |    456503 | PA      | $454449.14    | 0.28%             | 2031-09-24      | Variable      | 7.85%                 | No            | 2                  | On Loan: No      |
| Kito Crosby (fka Crosby Worldwide)                                                     | CROSBY TL B 1L USD                   | CUSIP: 22739PAP1<br>LEI: 549300V5HSWHDNVOWE35 | Long             | LON              | CORP              | US        |    389915 | PA      | $390131.30    | 0.24%             | 2029-08-16      | Variable      | 8.19%                 | No            | 2                  | On Loan: No      |
| Dave & Buster's Entertainment                                                          | PLAY TL B 1L USD                     | CUSIP: 23833EAY0<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | LON              | CORP              | US        |    445052 | PA      | $413272.94    | 0.25%             | 2031-09-29      | Variable      | 7.94%                 | No            | 2                  | On Loan: No      |
| Belron                                                                                 | BELRON TL B 1L USD                   | CUSIP: 08078UAM5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    494419 | PA      | $493870.58    | 0.30%             | 2031-10-02      | Variable      | 7.27%                 | No            | 2                  | On Loan: No      |
| Interstate Waste Services                                                              | ACTENV TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    208856 | PA      | $208594.88    | 0.13%             | 2030-10-24      | Variable      | 8.05%                 | No            | 2                  | On Loan: No      |
| Coastal Waste & Recycling                                                              | TIWARE TL B 1L USD                   | CUSIP: 88636PAK7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    564887 | PA      | $566533.90    | 0.35%             | 2031-10-06      | Variable      | 8.24%                 | No            | 2                  | On Loan: No      |
| Starfruit Finco B V / Starfruit Us Holdco Llc                                          | SPCHEM TL B 1L USD                   | CUSIP: N8232NAM9<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    675000 | PA      | $671625.00    | 0.41%             | 2028-04-03      | Variable      | 7.55%                 | No            | 2                  | On Loan: No      |
| K2 Insurance Services                                                                  | SUACIN TL B 1L USD                   | CUSIP: 86600DAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    688857 | PA      | $689287.38    | 0.42%             | 2031-10-10      | Variable      | 8.08%                 | No            | 2                  | On Loan: No      |
| Kidde Global Services                                                                  | LSFCRO TL B 1L USD                   | CUSIP: 50221UAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    887588 | PA      | $856522.87    | 0.52%             | 2031-10-11      | Variable      | 8.57%                 | No            | 2                  | On Loan: No      |
| Hanger Inc                                                                             | HGR TL DD 1L USD                     | CUSIP: 41043BAJ7<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |     61167 | PA      | $61156.11     | 0.04%             | 2031-10-16      | Variable      | 5.66%                 | No            | 2                  | On Loan: No      |
| Hanger Inc                                                                             | HGR TL B 1L USD                      | CUSIP: 41043BAH1<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |    413098 | PA      | $413025.25    | 0.25%             | 2031-10-16      | Variable      | 7.82%                 | No            | 2                  | On Loan: No      |
| Tekni-Plex                                                                             | TEKNI TL B7 1L USD                   | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    247927 | PA      | $240292.38    | 0.15%             | 2028-09-18      | Variable      | 8.07%                 | No            | 2                  | On Loan: No      |
| Endo International                                                                     | ENDP TL B 1L USD                     | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    888934 | PA      | $863377.33    | 0.53%             | 2031-04-23      | Variable      | 8.71%                 | No            | 2                  | On Loan: No      |
| KinderCare                                                                             | KNOLEA TL B 1L USD                   | CUSIP: 50118YAG4<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |    450284 | PA      | $449320.57    | 0.27%             | 2030-06-12      | Variable      | 7.55%                 | No            | 2                  | On Loan: No      |
| Cloud Software Group (Citrix/TIBCO)                                                    | TIBX TL B 1L USD                     | CUSIP: 88632NBE9<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    752895 | PA      | $745366.16    | 0.46%             | 2031-03-24      | Variable      | 8.05%                 | No            | 2                  | On Loan: No      |
| Qlik Technologies                                                                      | QLIK TL B 1L USD                     | CUSIP: 74339DAQ1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    503974 | PA      | $502539.98    | 0.31%             | 2030-10-28      | Variable      | 7.87%                 | No            | 2                  | On Loan: No      |
| Qlik Technologies                                                                      | QLIK TL 2L USD                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    199304 | PA      | $191705.06    | 0.12%             | 2032-11-22      | Variable      | 9.53%                 | No            | 2                  | On Loan: No      |
| Ellucian                                                                               | DAEL TL B 1L USD                     | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    376243 | PA      | $375234.32    | 0.23%             | 2029-10-29      | Variable      | 7.60%                 | No            | 2                  | On Loan: No      |
| Caesars Entertainment Inc                                                              | CZR TL B1 1L USD                     | CUSIP: N/A<br>LEI: 549300FA4CTCW903Y781       | Long             | LON              | CORP              | US        |    698237 | PA      | $688636.02    | 0.42%             | 2031-02-06      | Variable      | 6.47%                 | No            | 2                  | On Loan: No      |
| Howden Group Holdings (fka Hyperion)                                                   | HYPINS TL B 1L USD                   | CUSIP: G4712JAZ5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    245830 | PA      | $244754.63    | 0.15%             | 2031-02-18      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Cloud Software Group (Citrix/TIBCO)                                                    | TIBX TL B 1L USD                     | CUSIP: 88632NBF6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    291964 | PA      | $288877.56    | 0.18%             | 2029-03-29      | Variable      | 7.80%                 | No            | 2                  | On Loan: No      |
| Blackstone Mortgage Trust                                                              | BXMT TL B5 1L USD                    | CUSIP: 09259GAG8<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    221139 | PA      | $221415.68    | 0.14%             | 2028-11-25      | Variable      | 8.36%                 | No            | 2                  | On Loan: No      |
| Wood Mackenzie                                                                         | WMCOGB TL B 1L USD                   | CUSIP: N/A<br>LEI: 254900ZE51SEX2EFFH74       | Long             | LON              | CORP              | US        |     72898 | PA      | $72615.95     | 0.04%             | 2031-02-10      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Culligan International                                                                 | CULLHO TL B 1L USD                   | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |    795597 | PA      | $787450.22    | 0.48%             | 2028-07-31      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Berlin Packaging                                                                       | BERPAC TL B7 1L USD                  | CUSIP: 08511LBC1<br>LEI: 549300L1HNHO6QOXHH42 | Long             | LON              | CORP              | US        |    822413 | PA      | $817729.31    | 0.50%             | 2031-06-09      | Variable      | 7.95%                 | No            | 2                  | On Loan: No      |
| EG Group                                                                               | OPTFIN TL B2 1L USD                  | CUSIP: N2820EAM0<br>LEI: 2138003OUK4UQHRJLT65 | Long             | LON              | CORP              | US        |    960764 | PA      | $962478.79    | 0.59%             | 2028-02-07      | Variable      | 8.56%                 | No            | 2                  | On Loan: No      |
| Whataburger                                                                            | WHABRA TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    646750 | PA      | $643946.34    | 0.39%             | 2028-08-03      | Variable      | 6.82%                 | No            | 2                  | On Loan: No      |
| Ascensus                                                                               | ASCENS TL B 1L USD                   | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    787252 | PA      | $784300.05    | 0.48%             | 2028-08-02      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Solenis                                                                                | SOLEIN TL B6 1L USD                  | CUSIP: 68163YAJ4<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    712372 | PA      | $704962.93    | 0.43%             | 2031-06-23      | Variable      | 7.30%                 | No            | 2                  | On Loan: No      |
| American Airlines                                                                      | AAL TL B 1L USD                      | CUSIP: N/A<br>LEI: IWUQB36BXD6OWD6X4T14       | Long             | LON              | CORP              | US        |    525000 | PA      | $511329.00    | 0.31%             | 2029-06-04      | Variable      | 6.57%                 | No            | 2                  | On Loan: No      |
| Novolex                                                                                | NOVHOL TL B 1L USD                   | CUSIP: 18972FAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    275496 | PA      | $273603.40    | 0.17%             | 2032-03-29      | Variable      | 7.57%                 | No            | 2                  | On Loan: No      |
| Parexel                                                                                | PRXL TL B 1L USD                     | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    939904 | PA      | $935735.94    | 0.57%             | 2028-11-15      | Variable      | 6.83%                 | No            | 2                  | On Loan: No      |
| Protective Industrial Products                                                         | PROINP TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    877390 | PA      | $842733.41    | 0.52%             | 2032-01-20      | Variable      | 8.33%                 | No            | 2                  | On Loan: No      |
| Clarios (Power Solutions)                                                              | POWSOL TL B 1L USD                   | CUSIP: C8000CAP8<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    695673 | PA      | $683209.87    | 0.42%             | 2032-01-14      | Variable      | 7.07%                 | No            | 2                  | On Loan: No      |
| NielsenIQ/Global Connect                                                               | INDYUS TL B 1L USD                   | CUSIP: 45674PAR5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    687750 | PA      | $686889.85    | 0.42%             | 2028-03-06      | Variable      | 7.81%                 | No            | 2                  | On Loan: No      |
| HighTower                                                                              | HIGTOW TL B 1L USD                   | CUSIP: 43117LAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    739583 | PA      | $728489.55    | 0.45%             | 2032-01-15      | Variable      | 7.29%                 | No            | 2                  | On Loan: No      |
| Ahead DB Holdings                                                                      | AHEDBB TL B4 1L USD                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    253213 | PA      | $251908.01    | 0.15%             | 2031-02-03      | Variable      | 7.33%                 | No            | 2                  | On Loan: No      |
| Mavis Tire Express                                                                     | EOCGRO TL B 1L USD                   | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |    700000 | PA      | $692433.00    | 0.42%             | 2028-05-04      | Variable      | 7.31%                 | No            | 2                  | On Loan: No      |
| Les Schwab Tire Centers                                                                | LESSCH TL B1 1L USD                  | CUSIP: 50220KAD6<br>LEI: 549300GJM1TKHPYFPF83 | Long             | LON              | CORP              | US        |    700000 | PA      | $695845.50    | 0.43%             | 2031-04-23      | Variable      | 6.82%                 | No            | 2                  | On Loan: No      |
| Endeavor                                                                               | EDR TL B 1L USD                      | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    627008 | PA      | $620997.84    | 0.38%             | 2032-01-28      | Variable      | 7.56%                 | No            | 2                  | On Loan: No      |
| IntraFi Network (fka Promontory Interfinancial Network)                                | NEXBUY TL B 1L USD                   | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |   1378230 | PA      | $1376032.22   | 0.84%             | 2031-07-31      | Variable      | 7.82%                 | No            | 2                  | On Loan: No      |
| Cable & Wireless                                                                       | CWCLN TL B7 1L USD                   | CUSIP: G7739PAN0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000000 | PA      | $981785.00    | 0.60%             | 2032-01-30      | Variable      | 7.55%                 | No            | 2                  | On Loan: No      |
| BMC Software                                                                           | BMC TL B 1L USD                      | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    537901 | PA      | $528089.56    | 0.32%             | 2031-07-30      | Variable      | 7.29%                 | No            | 2                  | On Loan: No      |
| MedRisk                                                                                | MEDRSK TL 1L USD                     | CUSIP: 54317EAG9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    861909 | PA      | $860353.12    | 0.53%             | 2028-05-10      | Variable      | 7.57%                 | No            | 2                  | On Loan: No      |
| Kaman Corporation                                                                      | KAMN TL B-DD 1L USD                  | CUSIP: 48354VAN2<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     63632 | PA      | $62786.11     | 0.04%             | 2032-01-30      | Variable      | 7.05%                 | No            | 2                  | On Loan: No      |
| Arxis                                                                                  | KAMN TL B 1L USD                     | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |    674504 | PA      | $665532.86    | 0.41%             | 2032-01-30      | Variable      | 7.05%                 | No            | 2                  | On Loan: No      |
| Focus Financial                                                                        | FOCS TL B8 1L USD                    | CUSIP: N/A<br>LEI: 5493007L0E0VKRC2CP39       | Long             | LON              | CORP              | US        |    311526 | PA      | $308180.69    | 0.19%             | 2031-09-15      | Variable      | 7.07%                 | No            | 2                  | On Loan: No      |
| Garda World Security                                                                   | GWCN TL B 1L USD                     | CUSIP: C4000KAG9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | LON              | CORP              | US        |    610190 | PA      | $605919.00    | 0.37%             | 2029-02-01      | Variable      | 7.29%                 | No            | 2                  | On Loan: No      |
| Quikrete                                                                               | QUIKHO TL B 1L USD                   | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    343740 | PA      | $337430.85    | 0.21%             | 2032-01-31      | Variable      | 6.55%                 | No            | 2                  | On Loan: No      |
| Air Transport                                                                          | ATSG TL B 1L USD                     | CUSIP: 86184XAB0<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |    693671 | PA      | $682977.93    | 0.42%             | 2032-02-03      | Variable      | 7.05%                 | No            | 2                  | On Loan: No      |
| 1-800 Contacts                                                                         | CTAC TL B 1L USD                     | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |    530023 | PA      | $527890.08    | 0.32%             | 2032-11-08      | Variable      | 6.80%                 | No            | 2                  | On Loan: No      |
| Sinclair Television Group, Inc.                                                        | SBGI TL B7 1L USD                    | CUSIP: 82925BAR6<br>LEI: 549300CQGEN0CH65UD62 | Long             | LON              | CORP              | US        |    987023 | PA      | $780059.43    | 0.48%             | 2030-12-31      | Variable      | 8.52%                 | No            | 2                  | On Loan: No      |
| GFL Environmental Services business                                                    | GFLCN TL B 1L USD                    | CUSIP: 36257SAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    556335 | PA      | $550075.78    | 0.34%             | 2032-02-04      | Variable      | 6.81%                 | No            | 2                  | On Loan: No      |
| American Express Global Business Travel                                                | GBTG TL B1 1L USD                    | CUSIP: 36154HAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    556605 | PA      | $552121.55    | 0.34%             | 2031-07-28      | Variable      | 6.81%                 | No            | 2                  | On Loan: No      |
| Varsity Brands                                                                         | VARBRA TL B 1L USD                   | CUSIP: 92227QAF3<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |   1034149 | PA      | $1018962.05   | 0.62%             | 2031-08-26      | Variable      | 7.82%                 | No            | 2                  | On Loan: No      |
| Sunrise UPC                                                                            | SUNN TL AAA 1L USD                   | CUSIP: N9000DAK3<br>LEI: 213800DXWIS9KORQ3X94 | Long             | LON              | CORP              | US        |    870458 | PA      | $867194.21    | 0.53%             | 2032-02-17      | Variable      | 6.82%                 | No            | 2                  | On Loan: No      |
| Gentiva (KAH Hospice)                                                                  | KND TL B 1L USD                      | CUSIP: 12568YAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    833053 | PA      | $830299.74    | 0.51%             | 2028-02-11      | Variable      | 8.57%                 | No            | 2                  | On Loan: No      |
| BEACON ROOFING SUPPLY, INC.                                                            | QXO TL B 1L USD                      | CUSIP: 07368RAJ0<br>LEI: N/A                  | Long             | LON              | CORP              | N/A       |    908722 | PA      | $908885.91    | 0.56%             | 2032-04-23      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Flora Food (fka Upfield)                                                               | SIGHCO TL B10 1L USD                 | CUSIP: N/A<br>LEI: 254900RAPCKVT00GAO59       | Long             | LON              | CORP              | US        |    802644 | PA      | $798730.66    | 0.49%             | 2028-01-03      | Variable      | 8.07%                 | No            | 2                  | On Loan: No      |
| Highline Warren (Highline Aftermarket)                                                 | DYKAUT TL B 1L USD                   | CUSIP: 43110HAF6<br>LEI: 254900Q5W6G5KG3GHJ04 | Long             | LON              | CORP              | US        |    632203 | PA      | $632992.78    | 0.39%             | 2030-02-12      | Variable      | 7.81%                 | No            | 2                  | On Loan: No      |
| Cotiviti Inc                                                                           | VCVHHO TL 1L USD                     | CUSIP: 22164MAF4<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    426888 | PA      | $418527.46    | 0.26%             | 2032-02-17      | Variable      | 7.08%                 | No            | 2                  | On Loan: No      |
| Apex Group                                                                             | APEGRP TL B 1L USD                   | CUSIP: G0472CAK1<br>LEI: 254900N6HRPDDNW7HP03 | Long             | LON              | CORP              | US        |   1180437 | PA      | $1178719.81   | 0.72%             | 2032-02-20      | Variable      | 7.82%                 | No            | 2                  | On Loan: No      |
| Univar                                                                                 | UNVR TL B 1L USD                     | CUSIP: 97360BAH8<br>LEI: 254900IXUJZ9H146T437 | Long             | LON              | CORP              | US        |    912434 | PA      | $903309.81    | 0.55%             | 2030-08-01      | Variable      | 7.07%                 | No            | 2                  | On Loan: No      |
| Jump Financial                                                                         | JMPFIN TL B 1L USD                   | CUSIP: 48138UAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    326985 | PA      | $326576.39    | 0.20%             | 2032-02-20      | Variable      | 8.57%                 | No            | 2                  | On Loan: No      |
| KKR Real Estate Finance Trust/KREF Holdings X                                          | KREFHO TL B 1L USD                   | CUSIP: 48266YAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    685453 | PA      | $681172.59    | 0.42%             | 2032-02-25      | Variable      | 7.56%                 | No            | 2                  | On Loan: No      |
| Service Logic                                                                          | MSHCIN TL B 1L USD                   | CUSIP: 81759AAH3<br>LEI: 25490008CFAWEVHSQF88 | Long             | LON              | CORP              | US        |    822938 | PA      | $821912.94    | 0.50%             | 2027-10-29      | Variable      | 7.31%                 | No            | 2                  | On Loan: No      |
| Storable                                                                               | STRBLE TL 1L USD                     | CUSIP: 86210LAD0<br>LEI: 2549000AWFN27KOH3F59 | Long             | LON              | CORP              | US        |    836189 | PA      | $834968.55    | 0.51%             | 2031-04-17      | Variable      | 7.57%                 | No            | 2                  | On Loan: No      |
| Action Nederland B.V.                                                                  | ACTINA TL B5B 1L USD                 | CUSIP: N6872NAN6<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | US        |    383456 | PA      | $382378.11    | 0.23%             | 2031-07-01      | Variable      | 6.82%                 | No            | 2                  | On Loan: No      |
| M6 Midstream                                                                           | METXHO TL B 1L USD                   | CUSIP: 55285DAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1094746 | PA      | $1089956.27   | 0.67%             | 2032-03-24      | Variable      | 7.32%                 | No            | 2                  | On Loan: No      |
| Clydesdale Acquisition Holdings Inc.                                                   | NOVHOL TL B-DD 1L USD                | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |      4816 | PA      | $4783.27      | 0.00%             | 2032-03-29      | Variable      | 7.57%                 | No            | 2                  | On Loan: No      |
| AVALARA INC                                                                            | AIMBRI TL 1L USD                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     84368 | PA      | $83102.47     | 0.05%             | 2030-03-11      | Variable      | 11.80%                | No            | 2                  | On Loan: No      |
| Opella (Sanofi consumer healthcare)                                                    | OPALBD TL B 1L USD                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    653233 | PA      | $648745.30    | 0.40%             | 2032-03-31      | Variable      | 7.57%                 | No            | 2                  | On Loan: No      |
| Madison Air                                                                            | MADIAQ TL 1L USD                     | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    656452 | PA      | $651324.82    | 0.40%             | 2032-03-29      | Variable      | 7.57%                 | No            | 2                  | On Loan: No      |
| TRA RIGHTS - (TXU)                                                                     | TRA RIGHTS - (TXU)                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10588 | NS      | $13499.70     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| AVALARA INC                                                                            | Aimbridge Hosp 3/25 TL               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    160222 | PA      | $160221.51    | 0.10%             | 2030-03-11      | Variable      | 0.00%                 | No            | 2                  | On Loan: No      |
| CLYDESDALE ACQUISITION                                                                 | Aimbridge Hospitality                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7877 | NS      | $496251.00    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Dunham Funds

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Assistant Treasurer