# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0001752724-25-207343
**Filing Date:** 2025-8
**Character Count:** 182506
**Document Hash:** ec4e150dcd7654f6d3dea43f21a02992
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-207343.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-207343

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622

**ORGANIZATION NAME:**
- **EIN:** 481112076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06569
- **FILM NUMBER:** 251261406

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IVY FUNDS INC
- **DATE OF NAME CHANGE:** 20030630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R FUNDS INC
- **DATE OF NAME CHANGE:** 20000829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WADDELL & REED FUNDS INC
- **DATE OF NAME CHANGE:** 19920717

## Series and Classes Contracts Data

### Macquarie High Income Fund (Series ID: S000006289)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000017281 | Class A             | WHIAX           |
| C000017283 | Class C             | WRHIX           |
| C000017284 | Class Y             | WHIYX           |
| C000045546 | Institutional Class | IVHIX           |
| C000122150 | Class R             | IYHIX           |
| C000146681 | Class R6            | IHIFX           |

## Nport-Ex

## Schedule of investments
Macquarie High Income Fund

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations — 6.10%** | &nbsp;&nbsp;**Collateralized Loan Obligations — 6.10%** | &nbsp;&nbsp;**Collateralized Loan Obligations — 6.10%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 East CLO 2022-I Series 2022-1A ER 144A 10.169% (TSFR03M + 5.90%, Floor 5.90%) 1/20/38 #, • | 2800000 | $2763376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABPCI Direct Lending Fund<br> CLO II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A DRR 144A 8.419% (TSFR03M + 4.15%, Floor 4.15%) 7/20/37 #, • | 1000000 | &nbsp;&nbsp; 1001265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A ERR 144A 11.769% (TSFR03M + 7.50%, Floor 7.50%) 7/20/37 #, • | 2000000 | &nbsp;&nbsp; 1962802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGL CLO 3 Series 2020-3A ER 144A 9.506% (TSFR03M + 5.25%, Floor 5.25%) 4/15/38 #, • | 2500000 | &nbsp;&nbsp; 2490438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGL CLO 32 Series 2024-32A E 144A 10.019% (TSFR03M + 5.75%, Floor 5.75%) 7/21/37 #, • | 2000000 | &nbsp;&nbsp; 2004452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aimco CLO 15 Series 2021-15A ER 144A 8.884% (TSFR03M + 4.60%, Floor 4.60%) 4/17/38 #, • | 2000000 | &nbsp;&nbsp; 1993650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIMCO CLO 18 Series 2022-18A ER 144A 9.769% (TSFR03M + 5.50%, Floor 5.50%) 7/20/37 #, • | &nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp; 851952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aimco CLO 19 Series 2024-19A E 144A 9.269% (TSFR03M + 5.00%, Floor 5.00%) 10/20/37 #, • | 2100000 | &nbsp;&nbsp; 2078666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMMC CLO 23 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-23A D2R2 144A 9.78% (TSFR03M + 5.50%, Floor 5.50%) 4/17/35 #, • | 2000000 | &nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-23A D2R3 144A TBD (TSFR03M + 4.90%, Floor 4.90%) 7/17/38 #, =, •, ^^ | 2000000 | &nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARES Loan Funding III Series 2022-ALF3A ER 144A 10.382% (TSFR03M + 6.10%, Floor 6.10%) 7/25/36 #, • | 1000000 | &nbsp;&nbsp; 999649 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Senior Loan Fund XX Series 2022-20A D1R 144A 8.119% (TSFR03M + 3.85%, Floor 3.85%) 10/19/37 #, • | 1750000 | $1759937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Credit CLO 2017-2 Series 2017-2A ER3 144A 11.622% (TSFR03M + 7.34%, Floor 7.34%) 7/25/37 #, • | 2000000 | &nbsp;&nbsp; 1996784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ballyrock CLO 18 Series 2021-18A DR 144A 8.971% (TSFR03M + 5.75%, Floor 5.75%) 4/15/38 #, • | 3000000 | &nbsp;&nbsp; 2891250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ballyrock CLO 25 Series 2023-25A DR 144A 9.082% (TSFR03M + 4.80%, Floor 4.80%) 1/25/38 #, • | 3000000 | &nbsp;&nbsp; 2998236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barings CLO 2018-II Series 2018-2A ER 144A 11.156% (TSFR03M + 6.90%, Floor 6.90%) 7/15/36 #, • | 1800000 | &nbsp;&nbsp; 1794305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barings CLO 2024-II Series 2024-2A E 144A 10.156% (TSFR03M + 5.90%, Floor 5.90%) 7/15/39 #, • | 2100000 | &nbsp;&nbsp; 2094481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barings CLO 2024-V Series 2024-5A D2 144A 8.453% (TSFR03M + 4.10%, Floor 4.10%) 7/15/38 #, • | 2500000 | &nbsp;&nbsp; 2512108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BBAM US CLO III Series 2023-3A D 144A 12.856% (TSFR03M + 8.60%, Floor 8.60%) 10/15/38 #, • | 3550000 | &nbsp;&nbsp; 3568339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bear Mountain Park CLO Series 2022-1A ER 144A 10.206% (TSFR03M + 5.95%, Floor 5.95%) 7/15/37 #, • | 1500000 | &nbsp;&nbsp; 1500585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit Street Partners CLO Series 2015-6BR ER 144A 9.033% (TSFR03M + 4.75%, Floor 4.75%) 4/20/38 #, • | 2185000 | &nbsp;&nbsp; 2139545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit Street Partners CLO XII-B Series 2017-12BRA E 144A 10.506% (TSFR03M + 6.25%, Floor 6.25%) 10/15/37 #, • | 2500000 | &nbsp;&nbsp; 2502425 |

---

NQ- IV009 [0625] 0825 (4730775) 1

------

Macquarie High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookhaven Park CLO Series 2024-1A E 144A 10.769% (TSFR03M + 6.50%, Floor 6.50%) 4/19/37 #, • | 3500000 | $3489125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CARLYLE US CLO 2021-11 Series 2021-11A ER 144A 10.782% (TSFR03M + 6.50%, Floor 6.50%) 7/25/37 #, • | 2000000 | &nbsp;&nbsp; 1995760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle US CLO 2024-1 Series 2024-1A E 144A 11.176% (TSFR03M + 6.92%, Floor 6.92%) 4/15/37 #, • | 3100000 | &nbsp;&nbsp; 3113786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle US CLO 2024-5 Series 2024-5A E 144A 9.932% (TSFR03M + 5.65%, Floor 5.65%) 10/25/36 #, • | 1600000 | &nbsp;&nbsp; 1603731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CBAMR Series 2021-15A ER 144A 9.804% (TSFR03M + 5.50%, Floor 5.50%) 1/20/38 #, • | 3000000 | &nbsp;&nbsp; 2950836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cedar Funding IX CLO Series 2018-9A ER 144A 11.799% (TSFR03M + 7.53%, Floor 7.53%) 7/20/37 #, • | 2000000 | &nbsp;&nbsp; 1978686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clover CLO 2021-3 LLC Series 2021-3A ER 144A 9.182% (TSFR03M + 4.90%, Floor 4.90%) 1/25/35 #, • | 2280000 | &nbsp;&nbsp; 2257638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden 109 CLO Series 2022-109A ER 144A 9.606% (TSFR03M + 5.35%, Floor 5.35%) 4/15/38 #, • | 3500000 | &nbsp;&nbsp; 3497875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elmwood CLO 17 Series 2022-4A ER 144A 9.98% (TSFR03M + 5.70%, Floor 5.70%) 7/17/37 #, • | 2000000 | &nbsp;&nbsp; 2000902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elmwood CLO IX Series 2021-2A ER 144A 8.972% (TSFR03M + 4.65%, Floor 4.65%) 4/20/38 #, • | 2500000 | &nbsp;&nbsp; 2465470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Empower CLO 2022-1 Series 2022-1A ER 144A 10.169% (TSFR03M + 5.90%, Floor 5.90%) 10/20/37 #, • | 2750000 | &nbsp;&nbsp; 2749535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golub Capital Partners CLO 62B Series 2022-62A ER 144A 10.656% (TSFR03M + 6.40%, Floor 6.40%) 10/15/37 #, • | 1150000 | &nbsp;&nbsp; 1152504 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golub Capital Partners CLO 76 B Series 2024-76A E 144A 10.032% (TSFR03M + 5.75%, Floor 5.75%) 10/25/37 #, • | 1150000 | $1149092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco US CLO 2023-4 Series 2023-4A E 144A 12.279% (TSFR03M + 8.01%, Floor 8.01%) 1/18/37 #, • | 1200000 | &nbsp;&nbsp; 1212272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco US CLO 2024-3 Series 2024-3A E 144A 10.769% (TSFR03M + 6.50%, Floor 6.50%) 7/20/37 #, • | 3500000 | &nbsp;&nbsp; 3494235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR CLO 27 Series 27A ER2 144A 10.506% (TSFR03M + 6.25%, Floor 6.25%) 1/15/35 #, • | 3450000 | &nbsp;&nbsp; 3324937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Park Funding XXX Series 2018-30A ER 144A 10.661% (TSFR03M + 6.40%, Floor 6.40%) 7/16/37 #, • | 2100000 | &nbsp;&nbsp; 2098142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnetite XLV Series 2025-45A E 144A 8.785% (TSFR03M + 4.50%, Floor 4.50%) 4/15/38 #, • | 2500000 | &nbsp;&nbsp; 2487595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Eaton Vance CLO 2025-21 Series 2025-21A E 144A 8.815% (TSFR03M + 4.70%, Floor 4.70%) 4/15/38 #, • | 1090000 | &nbsp;&nbsp; 1079668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger Berman CLO XX Series 2015-20A ER3 144A 9.068% (TSFR03M + 4.75%, Floor 4.75%) 4/15/39 #, • | 3250000 | &nbsp;&nbsp; 3184253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neuberger Berman Loan Advisers CLO Series 2024-59A D2 144A 8.097% (TSFR03M + 3.80%, Floor 3.80%) 1/23/39 #, • | 1100000 | &nbsp;&nbsp; 1101536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oaktree CLO 2019-3 Series 2019-3A ER2 144A 11.019% (TSFR03M + 6.75%, Floor 6.75%) 1/20/38 #, • | 3300000 | &nbsp;&nbsp; 3285200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oaktree CLO 2020-1 Series 2020-1A ERR 144A 9.256% (TSFR03M + 5.00%, Floor 5.00%) 1/15/38 #, • | 2800000 | &nbsp;&nbsp; 2798342 |

---

2 NQ- IV009 [0625] 0825 (4730775)

------

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OCP CLO 2019-17 Series 2019-17A ER2 144A 10.519% (TSFR03M + 6.25%, Floor 6.25%) 7/20/37 #, • | 3200000 | $3193366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OFSI BSL XIV CLO Series 2024-14A E 144A 12.009% (TSFR03M + 7.74%, Floor 7.74%) 7/20/37 #, • | 2000000 | &nbsp;&nbsp; 1996684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OHA Credit Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-9A ER 144A 9.769% (TSFR03M + 5.50%, Floor 5.50%) 10/19/37 #, • | 2550000 | &nbsp;&nbsp; 2565626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-11A ER 144A 9.669% (TSFR03M + 5.40%, Floor 5.40%) 7/19/37 #, • | 2200000 | &nbsp;&nbsp; 2205130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square CLO 2018-1 Series 2018-1A DR 144A 11.209% (TSFR03M + 6.94%, Floor 6.94%) 4/18/37 #, • | 1000000 | &nbsp;&nbsp; 1001194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square CLO 2024-2 Series 2024-2A D2 144A 8.619% (TSFR03M + 4.35%, Floor 4.35%) 7/20/37 #, • | 2500000 | &nbsp;&nbsp; 2497195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Park Blue CLO 2022-1 Series 2022-1A ER 144A 11.359% (TSFR03M + 7.09%, Floor 7.09%) 10/20/37 #, • | 2100000 | &nbsp;&nbsp; 2101827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RR Series 2024-28RA DR 144A 11.256% (TSFR03M + 7.00%, Floor 7.00%) 4/15/37 #, • | 1800000 | &nbsp;&nbsp; 1798983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sculptor CLO XXXIII Series 33A D1A 144A 7.669% (TSFR03M + 3.40%, Floor 3.40%) 7/20/37 #, • | 1500000 | &nbsp;&nbsp; 1499571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver Point Clo 5 Series 2024-5A E 144A 10.669% (TSFR03M + 6.40%, Floor 6.40%) 10/20/37 #, • | 2700000 | &nbsp;&nbsp; 2706782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Point CLO 2025R-1 Series 2025-1RA E 144A 11.902% (TSFR03M + 7.58%, Floor 7.58%) 2/20/38 #, • | 1600000 | &nbsp;&nbsp; 1598325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Storm King Park CLO Series 2022-1A ER 144A 10.406% (TSFR03M + 6.15%, Floor 6.15%) 10/15/37 #, • | 2850000 | &nbsp;&nbsp; 2856418 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount** | **Value (US $)** |
| &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** | &nbsp;&nbsp;**Collateralized Loan Obligations (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Symphony CLO 39 Series 2023-39A ER 144A 9.782% (TSFR03M + 5.50%, Floor 5.50%) 1/25/38 #, • | 3750000 | $3747304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCW CLO 2022-1 Series 2022-1A ER 144A 10.822% (TSFR03M + 6.50%, Floor 6.50%) 1/20/38 #, • | 2000000 | &nbsp;&nbsp; 2004188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCW CLO 2024-2 Series 2024-2A E 144A 11.53% (TSFR03M + 7.25%, Floor 7.25%) 7/17/37 #, • | 2500000 | &nbsp;&nbsp; 2504670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCW CLO 2024-3 Series 2024-3A E 144A 10.869% (TSFR03M + 6.60%, Floor 6.60%) 10/20/37 #, • | 2300000 | &nbsp;&nbsp; 2305180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wellfleet CLO 2022-1 Series 2022-1A ER 144A 12.006% (TSFR03M + 7.75%, Floor 7.75%) 7/15/37 #, • | 2500000 | &nbsp;&nbsp; 2402263 |
| &nbsp;&nbsp;&nbsp;**Total Collateralized Loan Obligations<br> (cost $140,627,571)** | &nbsp;&nbsp;&nbsp;**Total Collateralized Loan Obligations<br> (cost $140,627,571)** | &nbsp;&nbsp; **139360071** |
| &nbsp;&nbsp;**Convertible Bond — 1.04%** | &nbsp;&nbsp;**Convertible Bond — 1.04%** | &nbsp;&nbsp;**Convertible Bond — 1.04%** |
| &nbsp;&nbsp;Communication Services — 1.04% | &nbsp;&nbsp;Communication Services — 1.04% | &nbsp;&nbsp;Communication Services — 1.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Cotai PIK 5.00% exercise price $0.40, maturity date 2/2/27 <<, >>, π | 25410336 | &nbsp;&nbsp; 23699038 |
| &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $25,095,701)** | &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $25,095,701)** | &nbsp;&nbsp; **23699038** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Corporate Bonds — 80.57%** | &nbsp;&nbsp;**Corporate Bonds — 80.57%** | &nbsp;&nbsp;**Corporate Bonds — 80.57%** |
| &nbsp;&nbsp;Automotive — 3.13% | &nbsp;&nbsp;Automotive — 3.13% | &nbsp;&nbsp;Automotive — 3.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clarios Global 144A 6.75% 2/15/30 # | 9628000 | &nbsp;&nbsp;&nbsp;&nbsp;10018772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Garrett Motion Holdings 144A 7.75% 5/31/32 # | 19248000 | &nbsp;&nbsp;&nbsp;&nbsp;20057282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire and Rubber 6.625% 7/15/30 | 8110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8278615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phinia 144A 6.625% 10/15/32 # | 6498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6603907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wand NewCo 3 144A 7.625% 1/30/32 # | 13368000 | &nbsp;&nbsp;&nbsp;&nbsp;14060850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZF North America Capital 144A 6.75% 4/23/30 # | 12960000 | &nbsp;&nbsp;&nbsp;&nbsp;12461932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;71481358 |

---

NQ- IV009 [0625] 0825 (4730775) 3

------

Macquarie High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking — 2.24% | &nbsp;&nbsp;Banking — 2.24% | &nbsp;&nbsp;Banking — 2.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Santander 8.00% 2/1/34 μ, ψ | 19200000 | $20330381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of Montreal 7.70% 5/26/84 μ | 10435000 | &nbsp;&nbsp; 10801102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays 9.625% 12/15/29 μ, ψ | 18050000 | &nbsp;&nbsp; 20093404 |
|  |  | &nbsp;&nbsp; 51224887 |
| &nbsp;&nbsp;Basic Industry — 4.80% | &nbsp;&nbsp;Basic Industry — 4.80% | &nbsp;&nbsp;Basic Industry — 4.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arsenal AIC Parent 144A 8.00% 10/1/30 # | 10935000 | &nbsp;&nbsp; 11683391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cleveland-Cliffs 144A 7.00% 3/15/32 # | 19795000 | &nbsp;&nbsp; 18684724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FMG Resources August 2006 144A 5.875% 4/15/30 # | 7630000 | &nbsp;&nbsp; 7731281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K Hovnanian Enterprises 144A 11.75% 9/30/29 # | 7880000 | &nbsp;&nbsp; 8552243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mineral Resources 144A 9.25% 10/1/28 # | 3455000 | &nbsp;&nbsp; 3540193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOVA Chemicals 144A 9.00% 2/15/30 # | 12770000 | &nbsp;&nbsp; 13807017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Olympus Water US Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 6/15/31 # | 2640000 | &nbsp;&nbsp; 2695018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.75% 11/15/28 # | 14735000 | &nbsp;&nbsp; 15534816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quikrete Holdings 144A 6.75% 3/1/33 # | 12800000 | &nbsp;&nbsp; 13215373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Building Solutions 144A 6.50% 8/15/32 # | 13825000 | &nbsp;&nbsp; 14174551 |
|  |  | &nbsp;&nbsp; 109618607 |
| &nbsp;&nbsp;Capital Goods — 6.46% | &nbsp;&nbsp;Capital Goods — 6.46% | &nbsp;&nbsp;Capital Goods — 6.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amentum Holdings 144A 7.25% 8/1/32 # | 10945000 | &nbsp;&nbsp; 11271796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcosa 144A 6.875% 8/15/32 # | 6865000 | &nbsp;&nbsp; 7128925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bombardier |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 6/1/32 # | 4945000 | &nbsp;&nbsp; 5155830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 7/1/31 # | 6805000 | &nbsp;&nbsp; 7151715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.75% 11/15/30 # | 5590000 | &nbsp;&nbsp; 6058604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 # | 10040000 | &nbsp;&nbsp; 10276081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goat Holdco 144A 6.75% 2/1/32 # | 6220000 | &nbsp;&nbsp; 6328695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manitowoc 144A 9.25% 10/1/31 # | 6840000 | &nbsp;&nbsp; 7207259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mauser Packaging Solutions<br> Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 4/15/27 # | 9035000 | &nbsp;&nbsp; 9194396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.25% 4/15/27 # | 8035000 | &nbsp;&nbsp; 7984568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sealed Air |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 7/15/32 # | 5035000 | &nbsp;&nbsp; 5220731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 2/15/31 # | 3565000 | &nbsp;&nbsp; 3756540 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Capital Goods (continued) | &nbsp;&nbsp;Capital Goods (continued) | &nbsp;&nbsp;Capital Goods (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terex 144A 6.25% 10/15/32 # | 13020000 | $13055102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toucan FinCo 144A 9.50% 5/15/30 # | 6100000 | &nbsp;&nbsp; 6240774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.625% 3/1/32 # | 10260000 | &nbsp;&nbsp; 10635962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 12/15/30 # | 24815000 | &nbsp;&nbsp; 25765484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trivium Packaging Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.25% 7/15/30 # | 2560000 | &nbsp;&nbsp; 2709125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 12.25% 1/15/31 # | 2250000 | &nbsp;&nbsp; 2413584 |
|  |  | &nbsp;&nbsp; 147555171 |
| &nbsp;&nbsp;Consumer Goods — 1.36% | &nbsp;&nbsp;Consumer Goods — 1.36% | &nbsp;&nbsp;Consumer Goods — 1.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cerdia Finanz 144A 9.375% 10/3/31 # | 13700000 | &nbsp;&nbsp; 14233889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiesta Purchaser |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 3/1/31 # | 6406000 | &nbsp;&nbsp; 6805062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.625% 9/15/32 # | 9560000 | &nbsp;&nbsp;&nbsp; 10111306 |
|  |  | &nbsp;&nbsp; 31150257 |
| &nbsp;&nbsp;Electric — 3.72% | &nbsp;&nbsp;Electric — 3.72% | &nbsp;&nbsp;Electric — 3.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lightning Power 144A 7.25% 8/15/32 # | 16700000 | &nbsp;&nbsp; 17586782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRG Energy 144A 6.25% 11/1/34 # | 13570000 | &nbsp;&nbsp; 13834248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 12/15/26 #, μ, ψ | 32965000 | &nbsp;&nbsp; 33382930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 10/15/26 #, μ, ψ | 17255000 | &nbsp;&nbsp; 17684184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners 144A 8.375% 1/15/31 # | 2270000 | &nbsp;&nbsp; 2426367 |
|  |  | &nbsp;&nbsp; 84914511 |
| &nbsp;&nbsp;Energy — 12.04% | &nbsp;&nbsp;Energy — 12.04% | &nbsp;&nbsp;Energy — 12.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Archrock Partners 144A 6.625% 9/1/32 # | 13235000 | &nbsp;&nbsp; 13493116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Civitas Resources 144A 9.625% 6/15/33 # | 10970000 | &nbsp;&nbsp; 11254353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crescent Energy Finance 144A 8.375% 1/15/34 # | 5154000 | &nbsp;&nbsp; 5160749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75% 2/1/28 | 6520000 | &nbsp;&nbsp; 6620888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875% 5/15/32 | 3320000 | &nbsp;&nbsp; 3454812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gulfport Energy Operating 144A 6.75% 9/1/29 # | 13705000 | &nbsp;&nbsp; 14062738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilcorp Energy I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 4/15/30 # | 24180000 | &nbsp;&nbsp; 23528801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 2/1/31 # | 2330000 | &nbsp;&nbsp; 2255741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 4/15/32 # | 10220000 | &nbsp;&nbsp; 9768090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matador Resources 144A 6.25% 4/15/33 # | 9555000 | &nbsp;&nbsp; 9508248 |

---

4 NQ- IV009 [0625] 0825 (4730775)

------

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nabors Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.875% 8/15/31 # | 5555000 | $4130687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.125% 1/31/30 # | 10655000 | &nbsp;&nbsp; 10210616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGL Energy Operating 144A 8.375% 2/15/32 # | 13785000 | &nbsp;&nbsp; 13837700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noble Finance II 144A 8.00% 4/15/30 # | 10295000 | &nbsp;&nbsp; 10491407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NuStar Logistics |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 6/1/26 | 10678000 | &nbsp;&nbsp; 10725239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375% 10/1/30 | 5697000 | &nbsp;&nbsp; 5907504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian Resources Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 1/15/32 # | 4495000 | &nbsp;&nbsp; 4662695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.875% 7/15/31 # | 2090000 | &nbsp;&nbsp; 2290976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SM Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.75% 8/1/29 # | 4825000 | &nbsp;&nbsp; 4811460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 8/1/32 # | 6074000 | &nbsp;&nbsp; 5991561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transocean |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 2/1/27 # | 17617000 | &nbsp;&nbsp; 17366467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.50% 5/15/31 # | 11185000 | &nbsp;&nbsp; 9993442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USA Compression Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 9/1/27 | 8245000 | &nbsp;&nbsp; 8266739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.125% 3/15/29 # | 5582000 | &nbsp;&nbsp; 5724659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global LNG 144A 9.875% 2/1/32 # | 17015000 | &nbsp;&nbsp; 18386205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global Plaquemines LNG 144A 7.75% 5/1/35 # | 7980000 | &nbsp;&nbsp; 8644670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vital Energy 144A 7.875% 4/15/32 # | 12905000 | &nbsp;&nbsp; 11044044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weatherford International 144A 8.625% 4/30/30 # | 22675000 | &nbsp;&nbsp; 23386705 |
|  |  | &nbsp;&nbsp; 274980312 |
| &nbsp;&nbsp;Financial Services — 6.08% | &nbsp;&nbsp;Financial Services — 6.08% | &nbsp;&nbsp;Financial Services — 6.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azorra Finance 144A 7.75% 4/15/30 # | 13970000 | &nbsp;&nbsp; 14579763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Block 6.50% 5/15/32 | 10420000 | &nbsp;&nbsp; 10757379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Buyer 144A 6.375% 2/15/32 # | 9177000 | &nbsp;&nbsp; 9200126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Focus Financial Partners 144A 6.75% 9/15/31 # | 13172000 | &nbsp;&nbsp; 13454394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortress Transportation and Infrastructure Investors 144A 7.00% 6/15/32 # | 13995000 | &nbsp;&nbsp; 14459886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferies Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 8/15/28 # | 7250000 | &nbsp;&nbsp; 7013765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.625% 10/15/31 # | 13600000 | &nbsp;&nbsp; 13563646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneMain Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625% 5/15/29 | 9277000 | &nbsp;&nbsp; 9539548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125% 9/15/32 | 2849000 | &nbsp;&nbsp; 2953043 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Financial Services (continued) | &nbsp;&nbsp;Financial Services (continued) | &nbsp;&nbsp;Financial Services (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PennyMac Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 5/15/32 # | 5840000 | $5974875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 2/15/33 # | 8960000 | &nbsp;&nbsp; 9195200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rocket 144A 6.375% 8/1/33 # | 11555000 | &nbsp;&nbsp; 11837525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.85% 9/10/29 #, μ, ψ | 2775000 | &nbsp;&nbsp; 2794117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.125% 8/10/34 #, μ, ψ | 9500000 | &nbsp;&nbsp; 9484698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UWM Holdings 144A 6.625% 2/1/30 # | 4054000 | &nbsp;&nbsp; 4062021 |
|  |  | &nbsp;&nbsp; 138869986 |
| &nbsp;&nbsp;Healthcare — 4.78% | &nbsp;&nbsp;Healthcare — 4.78% | &nbsp;&nbsp;Healthcare — 4.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261229 BC 144A 10.00% 4/15/32 # | 5295000 | &nbsp;&nbsp; 5345250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AthenaHealth Group 144A 6.50% 2/15/30 # | 10920000 | &nbsp;&nbsp; 10758553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheplapharm Arzneimittel 144A 5.50% 1/15/28 # | 13495000 | &nbsp;&nbsp; 13053862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 2/15/31 # | 15020000 | &nbsp;&nbsp; 12853029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 5/15/30 # | 6795000 | &nbsp;&nbsp; 6031904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 4/1/30 # | 3563000 | &nbsp;&nbsp; 2637997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 4/15/29 # | 3555000 | &nbsp;&nbsp; 2837530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IQVIA 144A 6.25% 6/1/32 # | 6000000 | &nbsp;&nbsp; 6164809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LifePoint Health 144A 11.00% 10/15/30 # | 5395000 | &nbsp;&nbsp; 5958486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organon & Co. 144A 5.125% 4/30/31 # | 17255000 | &nbsp;&nbsp; 14989172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radiology Partners 144A 8.50% 7/15/32 # | 3735000 | &nbsp;&nbsp; 3748371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raven Acquisition Holdings 144A 6.875% 11/15/31 # | 10235000 | &nbsp;&nbsp; 10261018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surgery Center Holdings 144A 7.25% 4/15/32 # | 14265000 | &nbsp;&nbsp; 14554039 |
|  |  | &nbsp;&nbsp; 109194020 |
| &nbsp;&nbsp;Insurance — 4.57% | &nbsp;&nbsp;Insurance — 4.57% | &nbsp;&nbsp;Insurance — 4.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ardonagh Finco 144A 7.75% 2/15/31 # | 16665000 | &nbsp;&nbsp; 17435573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howden UK Refinance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 2/15/31 # | 9350000 | &nbsp;&nbsp; 9689517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.125% 2/15/32 # | 8375000 | &nbsp;&nbsp; 8751908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HUB International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 6/15/30 # | 5860000 | &nbsp;&nbsp; 6128212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 1/31/32 # | 13935000 | &nbsp;&nbsp; 14589296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jones Deslauriers Insurance Management 144A 8.50% 3/15/30 # | 21010000 | &nbsp;&nbsp; 22284425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Panther Escrow Issuer 144A 7.125% 6/1/31 # | 13925000 | &nbsp;&nbsp; 14473729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USI 144A 7.50% 1/15/32 # | 10450000 | &nbsp;&nbsp; 11039474 |
|  |  | &nbsp;&nbsp; 104392134 |

---

NQ- IV009 [0625] 0825 (4730775) 5

------

Macquarie High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Leisure — 3.87% | &nbsp;&nbsp;Leisure — 3.87% | &nbsp;&nbsp;Leisure — 3.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 2/15/32 # | 6890000 | $7074244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 2/15/30 # | 8210000 | &nbsp;&nbsp; 8507260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.125% 7/1/27 # | 12000000 | &nbsp;&nbsp; 12011100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 3/1/27 # | 5345000 | &nbsp;&nbsp; 5392473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 6/15/31 # | 3765000 | &nbsp;&nbsp; 3837947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 5/1/29 # | 5960000 | &nbsp;&nbsp; 6025959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 2/15/33 # | 9330000 | &nbsp;&nbsp; 9551839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life Time 144A 6.00% 11/15/31 # | 13510000 | &nbsp;&nbsp; 13733928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Light & Wonder International 144A 7.25% 11/15/29 # | 6265000 | &nbsp;&nbsp; 6458468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mohegan Tribal Gaming Authority 144A 8.25% 4/15/30 # | 3226000 | &nbsp;&nbsp; 3332274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Flags Entertainment 144A 6.625% 5/1/32 # | 8435000 | &nbsp;&nbsp; 8705423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voyager Parent 144A 9.25% 7/1/32 # | 3500000 | &nbsp;&nbsp; 3643681 |
|  |  | &nbsp;&nbsp; 88274596 |
| &nbsp;&nbsp;Media — 8.93% | &nbsp;&nbsp;Media — 8.93% | &nbsp;&nbsp;Media — 8.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advantage Sales & Marketing 144A 6.50% 11/15/28 # | 13794000 | &nbsp;&nbsp; 10764631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMC Networks |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25% 2/15/29 | 12146000 | &nbsp;&nbsp; 9741881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 10.25% 1/15/29 # | 5730000 | &nbsp;&nbsp; 5944875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arches Buyer 144A 6.125% 12/1/28 # | 8394000 | &nbsp;&nbsp; 7727572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings 144A 6.375% 9/1/29 # | 24785000 | &nbsp;&nbsp; 25299445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cimpress 144A 7.375% 9/15/32 # | 9505000 | &nbsp;&nbsp; 9084427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CMG Media 144A 8.875% 6/18/29 # | 14477000 | &nbsp;&nbsp; 13683129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.50% 11/15/31 # | 10380000 | &nbsp;&nbsp; 7313124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 11/15/31 # | 10946000 | &nbsp;&nbsp; 5117255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulus Media New Holdings 144A 8.00% 7/1/29 # | 18686000 | &nbsp;&nbsp; 5278795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directv Financing 144A 8.875% 2/1/30 # | 2530000 | &nbsp;&nbsp; 2483169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Media |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 10/15/30 # | 16210000 | &nbsp;&nbsp; 12279075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 11/15/31 # | 23550000 | &nbsp;&nbsp; 17678895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McGraw-Hill Education 144A 7.375% 9/1/31 # | 16282000 | &nbsp;&nbsp; 16996801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midcontinent Communications 144A 8.00% 8/15/32 # | 13065000 | &nbsp;&nbsp; 13842681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snap 144A 6.875% 3/1/33 # | 12620000 | &nbsp;&nbsp; 12957598 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Media (continued) | &nbsp;&nbsp;Media (continued) | &nbsp;&nbsp;Media (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stagwell Global 144A 5.625% 8/15/29 # | 14375000 | $13764992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Univision Communications 144A 7.375% 6/30/30 # | 14090000 | &nbsp;&nbsp; 13857587 |
|  |  | &nbsp;&nbsp; 203815932 |
| &nbsp;&nbsp;Real Estate — 0.79% | &nbsp;&nbsp;Real Estate — 0.79% | &nbsp;&nbsp;Real Estate — 0.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brandywine Operating Partnership 8.875% 4/12/29 | 2265000 | &nbsp;&nbsp; 2454033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outfront Media Capital 144A 7.375% 2/15/31 # | 2335000 | &nbsp;&nbsp; 2473872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RHP Hotel Properties 144A 7.25% 7/15/28 # | 2390000 | &nbsp;&nbsp; 2475543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service Properties Trust 8.875% 6/15/32 | 2500000 | &nbsp;&nbsp; 2572720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starwood Property Trust 144A 6.50% 7/1/30 # | 4116000 | &nbsp;&nbsp; 4254030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uniti Group 144A 10.50% 2/15/28 # | 3661000 | &nbsp;&nbsp; 3883561 |
|  |  | &nbsp;&nbsp; 18113759 |
| &nbsp;&nbsp;Retail — 4.10% | &nbsp;&nbsp;Retail — 4.10% | &nbsp;&nbsp;Retail — 4.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bath & Body Works |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 11/1/35 | 22735000 | &nbsp;&nbsp; 23610798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95% 3/1/33 | 1347000 | &nbsp;&nbsp; 1388513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carvana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIK 144A 9.00% 6/1/30 # | 5122650 | &nbsp;&nbsp; 5390352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIK 144A 9.00% 6/1/31 # | 5117703 | &nbsp;&nbsp; 6067762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eG Global Finance 144A 12.00% 11/30/28 # | 2180000 | &nbsp;&nbsp; 2408854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnera 144A 7.25% 11/15/31 # | 9545000 | &nbsp;&nbsp; 9008332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PetSmart 144A 7.75% 2/15/29 # | 24396000 | &nbsp;&nbsp; 23730528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rakuten Group 144A 11.25% 2/15/27 # | 4520000 | &nbsp;&nbsp; 4918300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Victra Holdings 144A 8.75% 9/15/29 # | 16325000 | &nbsp;&nbsp; 17122966 |
|  |  | &nbsp;&nbsp; 93646405 |
| &nbsp;&nbsp;Services — 3.79% | &nbsp;&nbsp;Services — 3.79% | &nbsp;&nbsp;Services — 3.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Albion Financing 1 144A 7.00% 5/21/30 # | 5725000 | &nbsp;&nbsp; 5856831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avis Budget Car Rental<br> 144A 5.75% 7/15/27 # | 3255000 | &nbsp;&nbsp; 3239099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herc Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 6/15/30 # | 3810000 | &nbsp;&nbsp; 3981383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.25% 6/15/33 # | 2595000 | &nbsp;&nbsp; 2720731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resideo Funding 144A 6.50% 7/15/32 # | 11765000 | &nbsp;&nbsp; 12067855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&S Holdings 144A 8.375% 10/1/31 # | 9545000 | &nbsp;&nbsp; 9336087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Staples 144A 10.75% 9/1/29 # | 13525000 | &nbsp;&nbsp; 12868025 |

---

6 NQ- IV009 [0625] 0825 (4730775)

------

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Services (continued) | &nbsp;&nbsp;Services (continued) | &nbsp;&nbsp;Services (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Pro USA 144A 7.00% 2/1/33 # | 6300000 | $6555893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White Cap Buyer 144A 6.875% 10/15/28 # | 21190000 | &nbsp;&nbsp; 21173961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Scotsman 144A 6.625% 4/15/30 # | 8510000 | &nbsp;&nbsp; 8846749 |
|  |  | &nbsp;&nbsp; 86646614 |
| &nbsp;&nbsp;Technology & Electronics — 3.12% | &nbsp;&nbsp;Technology & Electronics — 3.12% | &nbsp;&nbsp;Technology & Electronics — 3.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capstone Borrower 144A 8.00% 6/15/30 # | 4890000 | &nbsp;&nbsp; 5093005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloud Software Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 3/31/29 # | 6085000 | &nbsp;&nbsp; 6145595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.00% 9/30/29 # | 11640000 | &nbsp;&nbsp; 12075981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CommScope 144A 8.25% 3/1/27 # | 2720000 | &nbsp;&nbsp; 2711613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CommScope Technologies 144A 5.00% 3/15/27 # | 4085000 | &nbsp;&nbsp; 3982279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entegris 144A 5.95% 6/15/30 # | 12615000 | &nbsp;&nbsp; 12827739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QXO Building Products 144A 6.75% 4/30/32 # | 2891000 | &nbsp;&nbsp; 2985542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seagate Data Storage Technology 144A 5.75% 12/1/34 # | 8560000 | &nbsp;&nbsp; 8540569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UKG 144A 6.875% 2/1/31 # | 12225000 | &nbsp;&nbsp; 12691995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies 144A 6.50% 6/1/32 # | 3950000 | &nbsp;&nbsp; 4064360 |
|  |  | &nbsp;&nbsp; 71118678 |
| &nbsp;&nbsp;Telecommunications — 5.99% | &nbsp;&nbsp;Telecommunications — 5.99% | &nbsp;&nbsp;Telecommunications — 5.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connect Finco 144A 9.00% 9/15/29 # | 14985000 | &nbsp;&nbsp; 15080574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Communications 144A 6.50% 10/1/28 # | 32991000 | &nbsp;&nbsp; 33660163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontier Communications Holdings 144A 6.75% 5/1/29 # | 17150000 | &nbsp;&nbsp; 17386258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iliad Holding 144A 8.50% 4/15/31 # | 20110000 | &nbsp;&nbsp; 21528258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rogers Communications 7.125% 4/15/55 μ | 10860000 | &nbsp;&nbsp; 11013281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sable International Finance 144A 7.125% 10/15/32 # | 13695000 | &nbsp;&nbsp; 13743302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I 144A 7.75% 4/15/32 # | 11765000 | &nbsp;&nbsp; 12240271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VZ Secured Financing 144A 5.00% 1/15/32 # | 13710000 | &nbsp;&nbsp; 12208048 |
|  |  | &nbsp;&nbsp; 136860155 |
| &nbsp;&nbsp;Total Non-Electric Utilities — 0.16% | &nbsp;&nbsp;Total Non-Electric Utilities — 0.16% | &nbsp;&nbsp;Total Non-Electric Utilities — 0.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AmeriGas Partners 144A 9.50% 6/1/30 # | 3495000 | &nbsp;&nbsp; 3628659 |
|  |  | &nbsp;&nbsp; 3628659 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Transportation — 0.64% | &nbsp;&nbsp;Transportation — 0.64% | &nbsp;&nbsp;Transportation — 0.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesee & Wyoming 144A 6.25% 4/15/32 # | 14280000 | $14588776 |
|  |  | &nbsp;&nbsp; 14588776 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $1,834,923,242)** | &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $1,834,923,242)** | &nbsp;&nbsp;**1840074817** |
| &nbsp;&nbsp;**Loan Agreements — 8.49%** | &nbsp;&nbsp;**Loan Agreements — 8.49%** | &nbsp;&nbsp;**Loan Agreements — 8.49%** |
| &nbsp;&nbsp;Automotive — 0.48% | &nbsp;&nbsp;Automotive — 0.48% | &nbsp;&nbsp;Automotive — 0.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clarios Global 7.077% (SOFR01M + 2.75%) 1/28/32 • | 4880000 | &nbsp;&nbsp; 4883050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenneco Tranche B 9.422% (SOFR03M + 5.10%) 11/17/28 • | 6277275 | &nbsp;&nbsp; 6154347 |
|  |  | &nbsp;&nbsp; 11037397 |
| &nbsp;&nbsp;Basic Industry — 1.08% | &nbsp;&nbsp;Basic Industry — 1.08% | &nbsp;&nbsp;Basic Industry — 1.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form Technologies 1st Lien 10.019% (SOFR03M + 5.75%) 7/19/30 • | 5870000 | &nbsp;&nbsp; 5444425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hunter Douglas Holding Tranche B-1 7.546% (SOFR03M + 3.25%) 1/17/32 • | 7526501 | &nbsp;&nbsp; 7490434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ineos Quattro Holdings UK Tranche B 8.577% (SOFR01M + 4.25%) 10/1/31 • | 6513675 | &nbsp;&nbsp; 5943729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Usalco 8.327% (SOFR01M + 4.00%) 9/30/31 • | 5642388 | &nbsp;&nbsp; 5677653 |
|  |  | &nbsp;&nbsp; 24556241 |
| &nbsp;&nbsp;Capital Goods — 1.44% | &nbsp;&nbsp;Capital Goods — 1.44% | &nbsp;&nbsp;Capital Goods — 1.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.577% (SOFR01M + 3.25%) 4/1/32 • | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44317 | &nbsp;&nbsp; 1326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche B 7.577% (SOFR01M + 3.25%) 4/1/32 • | 2534951 | &nbsp;&nbsp; 2527934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lsf12 Crown US Commercial Bidco 8.579% (SOFR01M + 4.25%) 12/2/31 • | 7411000 | &nbsp;&nbsp; 7459631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPX Flow Tranche B 7.327% (SOFR01M + 3.00%) 4/5/29 • | 9015000 | &nbsp;&nbsp; 9053737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunSource Borrower 8.427% (SOFR01M + 4.10%) 3/25/31 • | 14101500 | &nbsp;&nbsp; 13910538 |
|  |  | &nbsp;&nbsp; 32953166 |
| &nbsp;&nbsp;Healthcare — 2.16% | &nbsp;&nbsp;Healthcare — 2.16% | &nbsp;&nbsp;Healthcare — 2.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bausch & Lomb 8.571% (SOFR01M + 4.25%) 1/15/31 • | 14454886 | &nbsp;&nbsp; 14453080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cotiviti 7.625% 5/1/31 | 14040000 | &nbsp;&nbsp; 14127750 |

---

NQ- IV009 [0625] 0825 (4730775) 7

------

Macquarie High Income Fund

---

| | | |
|:---|:---|:---|
|  | **Principalamount** | **Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** |
| &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Heartland Dental 8.827% (SOFR01M + 4.50%) 4/28/28 • | 20811563 | $20854309 |
|  |  | &nbsp;&nbsp; 49435139 |
| &nbsp;&nbsp;Leisure — 0.80% | &nbsp;&nbsp;Leisure — 0.80% | &nbsp;&nbsp;Leisure — 0.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scientific Games Holdings 7.285% (SOFR03M + 3.00%) 4/4/29 • | 18303896 | &nbsp;&nbsp; 18301992 |
|  |  | &nbsp;&nbsp; 18301992 |
| &nbsp;&nbsp;Media — 0.20% | &nbsp;&nbsp;Media — 0.20% | &nbsp;&nbsp;Media — 0.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DirectV Financing Tranche B 9.827% (SOFR01M + 5.50%) 2/17/31 • | 3604900 | &nbsp;&nbsp; 3460704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Univision Communications 1st Lien 8.546% (SOFR03M + 4.25%) 6/24/29 • | 1135116 | &nbsp;&nbsp; 1139372 |
|  |  | &nbsp;&nbsp; 4600076 |
| &nbsp;&nbsp;Retail — 0.31% | &nbsp;&nbsp;Retail — 0.31% | &nbsp;&nbsp;Retail — 0.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flynn Restaurant Group 8.077% (SOFR01M + 3.75%) 1/28/32 • | 7104195 | &nbsp;&nbsp; 7104195 |
|  |  | &nbsp;&nbsp; 7104195 |
| &nbsp;&nbsp;Technology & Electronics — 2.02% | &nbsp;&nbsp;Technology & Electronics — 2.02% | &nbsp;&nbsp;Technology & Electronics — 2.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Systems 2nd Lien 8.796% (SOFR03M + 4.50%) 2/23/32 • | 13310000 | &nbsp;&nbsp; 13686420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clover Holdings 2 7.75% 12/9/31 | 14845000 | &nbsp;&nbsp; 15012006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commscope 9.577% (SOFR01M + 5.25%) 12/17/29 • | 12315000 | &nbsp;&nbsp; 12485871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Icon Parent I 2nd Lien 9.205% (SOFR06M + 5.00%) 11/12/32 • | 4813000 | &nbsp;&nbsp; 4868648 |
|  |  | &nbsp;&nbsp; 46052945 |
| &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $193,428,312)** | &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $193,428,312)** | &nbsp;&nbsp; **194041151** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** |  |
| &nbsp;&nbsp;**Common Stocks — 1.26%♣** | &nbsp;&nbsp;**Common Stocks — 1.26%♣** | &nbsp;&nbsp;**Common Stocks — 1.26%♣** |
| &nbsp;&nbsp;Consumer Discretionary — 0.79% | &nbsp;&nbsp;Consumer Discretionary — 0.79% | &nbsp;&nbsp;Consumer Discretionary — 0.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASG Warrant =, †, π | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Studio City International Holdings †, π | 3872825 | &nbsp;&nbsp;&nbsp;&nbsp;12296219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Studio City International Holdings ADR † | 1795294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700059 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17996278 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Energy — 0.14% | &nbsp;&nbsp;Energy — 0.14% | &nbsp;&nbsp;Energy — 0.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BIS Industries Holdings <<, =, †, π | 19682813 | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foresight Energy <<, =, † | 1117414 | &nbsp;&nbsp; 2623128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maritime Finance =, † | 1750000 | &nbsp;&nbsp; 559043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabine Oil & Gas Holdings =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385 | &nbsp;&nbsp; 6671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westmoreland Coal =, †, π | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4238 | &nbsp;&nbsp; 3179 |
|  |  | &nbsp;&nbsp; 3192021 |
| &nbsp;&nbsp;Financials — 0.33% | &nbsp;&nbsp;Financials — 0.33% | &nbsp;&nbsp;Financials — 0.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Cotai <<, =, †, π | 20316462 | &nbsp;&nbsp; 7579287 |
|  |  | &nbsp;&nbsp; 7579287 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $283,955,684)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $283,955,684)** | &nbsp;&nbsp; **28767586** |
| &nbsp;&nbsp;**Short-Term Investments — 2.25%** | &nbsp;&nbsp;**Short-Term Investments — 2.25%** | &nbsp;&nbsp;**Short-Term Investments — 2.25%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 2.25% | &nbsp;&nbsp;Money Market Mutual Funds — 2.25% | &nbsp;&nbsp;Money Market Mutual Funds — 2.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.22%) | 12835740 | &nbsp;&nbsp; 12835740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 12835740 | &nbsp;&nbsp; 12835740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.30%) | 12835739 | &nbsp;&nbsp; 12835739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.23%) | 12835739 | &nbsp;&nbsp; 12835739 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $51,342,957)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $51,342,957)** | &nbsp;&nbsp; **51342958** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.71%<br> (cost $2,529,373,467)** |  | &nbsp;&nbsp;**2277285621** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.29%** |  | &nbsp;&nbsp; **6531313** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 386,738,152 Shares Outstanding—100.00%** |  | **$2283816934** |

---

# Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At June 30, 2025, the aggregate value of Rule 144A securities was $1,810,925,008, which represents 79.29% of the Fund's net assets.

8 NQ- IV009 [0625] 0825 (4730775)

------

---

| | |
|:---|:---|
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at June 30, 2025. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. SOFR01M, SOFR03M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| = | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
| ^^ | Represents a security with a settlement after June 30, 2025, at which time the interest rate will be reflected. |
| >> | PIK. 100% of the income received was in the form of principal. |
| π | Restricted security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At June 30, 2025, the aggregate value of restricted securities was $43,577,723, which represented 1.91% of the Fund's net assets. See table below for additional details on restricted securities. |

---

---

| | |
|:---|:---|
| μ | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at June 30, 2025. Rate will reset at a future date. |
| ψ | Perpetual security. Maturity date represents next call date. |
| ♣ | Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. |
| † | Non-income producing security. |
| X | This loan will settle after June 30, 2025, at which time the interest rate, based on the SOFR and the agreed upon spread on trade date, will be reflected. |
| << | Affiliated company. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Restricted Securities** |  |  |  |
| Investments | Date of Acquisition | Cost | Value |
| ASG Warrant | &nbsp;&nbsp;&nbsp;5/30/18 | &nbsp;&nbsp;&nbsp;$1206000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0 |
| BIS Industries Holdings | 12/22/17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| New Cotai | &nbsp;&nbsp;&nbsp;9/29/20 | &nbsp;&nbsp;&nbsp;194451977 | &nbsp;&nbsp;&nbsp;&nbsp;7579288 |
| New Cotai PIK | &nbsp;&nbsp;&nbsp;&nbsp;2/7/22 | &nbsp;&nbsp;&nbsp;&nbsp;25095701 | &nbsp;&nbsp;&nbsp;23699038 |
| Studio City International Holdings | &nbsp;&nbsp;&nbsp;&nbsp;8/5/20 | &nbsp;&nbsp;&nbsp;&nbsp;23370959 | &nbsp;&nbsp;&nbsp;12296219 |
| Westmoreland Coal | &nbsp;&nbsp;&nbsp;3/15/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 |
| Total |  | $245980304 | $43577724 |

---

#### Unfunded Loan Commitments
The Fund may invest in floating rate loans. In connection with these investments, the Fund may also enter into unfunded corporate loan commitments (commitments). Commitments may obligate the Fund to furnish temporary financing to a borrower until permanent financing can be arranged. In connection with these commitments, the Fund earns a commitment fee, typically set as a percentage of the commitment amount. The following unfunded loan commitment was outstanding at June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Borrower | Principal<br> Amount | Value | Commitment | Unrealized<br> Appreciation<br> (Depreciation) |
| Clydesdale Acquisition Holdings TBD 4/1/32 X | $44317 | $42869 | $42988 | $(119) |
| Usalco TBD 9/30/31 X | &nbsp;&nbsp;584258 | &nbsp;&nbsp;587910 | &nbsp;&nbsp;584258 | &nbsp;&nbsp;3652 |
| Total | $628575 | $630779 | $627246 | $3533 |

---

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |
| CLO – Collateralized Loan Obligation |
| LLC – Limited Liability Corporation |
| LNG – Liquefied Natural Gas |
| PIK – Payment-in-kind |
| SOFR – Secured Overnight Financing Rate |
| SOFR01M – Secured Overnight Financing Rate 1 Month |
| SOFR03M – Secured Overnight Financing Rate 3 Month |
| SOFR06M – Secured Overnight Financing Rate 6 Month |

---

NQ- IV009 [0625] 0825 (4730775) 9

------

## Schedule of investments
Macquarie High Income Fund

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| TBD – To be determined |
| TSFR03M – 3 Month Term Secured Overnight Financing Rate |
| USD – US Dollar |

---

10 NQ- IV009 [0625] 0825 (4730775)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** IVY FUNDS

- **b. Investment Company Act file number:** 811-06569

- **c. CIK number of Registrant:** 0000883622

- **d. LEI of Registrant:** UJ5MWG3K37CY01MVRY13

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

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

- **a. Name of Series:** Macquarie High Income Fund

- **b. EDGAR series identifier (if any):** S000006289

- **c. LEI of Series:** 8Z7EZWQ148SYLG6G1226

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

- **a. Date of fiscal year-end:** 2026-03-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2319404044.88

**Total Liabilities:** $41335916.40

**Net Assets:** $2278068128.48

**Delayed Delivery Securities:** $7145410.01

**Cash Not Reported:** $1200052.38

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 7080.37674000 | **5-Year:** 45849.27177000 | **10-Year:** 11377.95864000 | **30-Year:** 0.00000000

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

- **3-Month:** 4366.27441000 | **1-Year:** 206154.80285000 | **5-Year:** 372167.68124000 | **10-Year:** 19902.70465000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017284 | -0.82%               | 1.78%                | 2.06%                |
| Class ID C000122150 | -0.84%               | 1.58%                | 2.22%                |
| Class ID C000146681 | -0.79%               | 1.81%                | 2.09%                |
| Class ID C000017283 | -0.71%               | 1.54%                | 2.00%                |
| Class ID C000017281 | -0.82%               | 1.61%                | 2.06%                |
| Class ID C000045546 | -0.80%               | 1.63%                | 2.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5006701.69             | $-27590337.63                              |
| Month 2  | $-8268768.40             | $37155341.95                               |
| Month 3  | $1299000.53              | $32990789.97                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CARVANA CO                                     | Carvana Co                                                                      | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   5122650 | PA      | $5390351.49   | 0.24%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                        | Gulfport Energy Operating Corp                                                  | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |  13705000 | PA      | $14062737.50  | 0.62%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AGL CLO 3 Ltd.                                 | AGL CLO 3 LTD                                                                   | CUSIP: 00119NAE7<br>LEI: 549300LS0REDUXQSHW18 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2490437.50   | 0.11%             | 2038-04-15      | Floating      | 9.51%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                 | AMMC CLO 23 Ltd                                                                 | CUSIP: 00177JCE3<br>LEI: 549300ICO4ZE2FVC2Y46 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000000.00   | 0.09%             | 2038-07-17      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| HUNTER DOUGLAS INC                             | HUNTER DOUGLAS INC                                                              | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |   7526501 | PA      | $7490434.07   | 0.33%             | 2032-01-20      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                           | Matador Resources Co                                                            | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   9555000 | PA      | $9508248.34   | 0.42%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   5960000 | PA      | $6025959.32   | 0.26%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY INTL ADR                           | STUDIO CITY INTL ADR                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |   3872825 | NS      | $12296219.38  | 0.54%             |  |  |  | Yes           |                  1 | On Loan: No      |
| VICTRA HLDG/VICTRA FIN                         | Victra Holdings LLC / Victra Finance Corp                                       | CUSIP: 92648DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16325000 | PA      | $17122966.00  | 0.75%             | 2029-09-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                          | McGraw-Hill Education Inc                                                       | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |  16282000 | PA      | $16996800.97  | 0.75%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                 | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   5295000 | PA      | $5345249.55   | 0.23%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Storm King Park CLO, Ltd                       | Storm King Park CLO LTD                                                         | CUSIP: 862179AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2850000 | PA      | $2856418.20   | 0.13%             | 2037-10-15      | Floating      | 10.41%                | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                           | Noble Finance II LLC                                                            | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10295000 | PA      | $10491406.98  | 0.46%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                              | Rakuten Group Inc                                                               | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |   4520000 | PA      | $4918299.69   | 0.22%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                            | Resideo Funding Inc                                                             | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |  11765000 | PA      | $12067854.63  | 0.53%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                 | Golub Capital Partners CLO 62B Ltd                                              | CUSIP: 38180EAA9<br>LEI: 2549009X711NFO0AZT83 | Long             | ABS-CBDO         | CORP              | JE        |   1150000 | PA      | $1152503.55   | 0.05%             | 2037-10-15      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                 | Bombardier Inc                                                                  | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4945000 | PA      | $5155830.08   | 0.23%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY                               | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  20316462 | NS      | $7579287.51   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ARDONAGH FINCO LTD                             | Ardonagh Finco Ltd                                                              | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |  16665000 | PA      | $17435572.94  | 0.77%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ICON PARENT INC                                | ICON PARENT INC                                                                 | CUSIP: 45115MAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4813000 | PA      | $4868647.91   | 0.21%             | 2032-11-15      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                | OHA Credit Funding 9 Ltd                                                        | CUSIP: 67114DAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2550000 | PA      | $2565626.40   | 0.11%             | 2037-10-19      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                  | COMMSCOPE LLC                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12315000 | PA      | $12485870.63  | 0.55%             | 2029-12-17      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                            | APPLIED SYSTEMS INC                                                             | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |  13310000 | PA      | $13686420.11  | 0.60%             | 2032-02-23      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                      | Block Inc                                                                       | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |  10420000 | PA      | $10757378.76  | 0.47%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                          | Nabors Industries Inc                                                           | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   5555000 | PA      | $4130686.89   | 0.18%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                       | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   9628000 | PA      | $10018771.64  | 0.44%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                          | Caesars Entertainment Inc                                                       | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12011100.00  | 0.53%             | 2027-07-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                          | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   8960000 | PA      | $9195200.00   | 0.40%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                                 | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |  32991000 | PA      | $33660163.05  | 1.48%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  15020000 | PA      | $12853028.55  | 0.56%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                     | Arcosa Inc                                                                      | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |   6865000 | PA      | $7128924.93   | 0.31%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                         | Radiology Partners Inc                                                          | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |   3735000 | PA      | $3748371.30   | 0.16%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                         | Arsenal AIC Parent LLC                                                          | CUSIP: 04288BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10935000 | PA      | $11683391.40  | 0.51%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                 | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11555000 | PA      | $11837525.53  | 0.52%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                          | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13925000 | PA      | $14473728.55  | 0.64%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                             | Voyager Parent LLC                                                              | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3643680.95   | 0.16%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                                                      | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |  12835739 | NS      | $12835739.41  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR/SEALED AIR US                       | Sealed Air Corp/Sealed Air Corp US                                              | CUSIP: 812127AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3565000 | PA      | $3756540.32   | 0.16%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                   | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  24815000 | PA      | $25765483.98  | 1.13%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                       | Raven Acquisition Holdings LLC                                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10235000 | PA      | $10261018.39  | 0.45%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                    | OCP Clo 2019-17 Ltd                                                             | CUSIP: 67113MAG9<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |   3200000 | PA      | $3193366.40   | 0.14%             | 2037-07-20      | Floating      | 10.52%                | No            |                  2 | On Loan: No      |
| Studio City International Hold                 | Studio City International Holdings Ltd                                          | CUSIP: 86389T106<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |   1795294 | NS      | $5700058.45   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sculptor CLO Ltd                               | Sculptor Clo Xxxiii Ltd                                                         | CUSIP: 810926AJ4<br>LEI: 254900DQL0NUJRDUYA65 | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1499571.00   | 0.07%             | 2037-07-20      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                  | Ballyrock CLO 18 Ltd                                                            | CUSIP: 05875XAE8<br>LEI: 2549009NE3IA6DAH4G62 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2891250.00   | 0.13%             | 2038-04-15      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                  | ZF North America Capital Inc                                                    | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |  12960000 | PA      | $12461931.65  | 0.55%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                             | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |  10678000 | PA      | $10725239.47  | 0.47%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                              | 720 East CLO 2022-I Ltd                                                         | CUSIP: 81785CAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2763376.00   | 0.12%             | 2038-01-20      | Floating      | 10.17%                | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                             | Seagate HDD Cayman                                                              | CUSIP: 81180WAN1<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   8560000 | PA      | $8478966.76   | 0.37%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                       | PetSmart Inc / PetSmart Finance Corp                                            | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24396000 | PA      | $23730528.35  | 1.04%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Sabine Oil & Gas Holdings Inc                  | Sabine Oil & Gas Holdings Inc                                                   | CUSIP: 78532M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5385 | NS      | $6670.90      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FLYNN RESTAURANT GROUP                         | FLYNN RESTAURANT GROUP LP                                                       | CUSIP: 34410JAG6<br>LEI: 5493008VE8TQONGO3817 | Long             | LON              | CORP              | US        |   7104195 | PA      | $7104195.00   | 0.31%             | 2032-01-28      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                              | Wellfleet CLO 2022-1 Ltd                                                        | CUSIP: 94950UAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2402262.50   | 0.11%             | 2037-07-15      | Floating      | 12.01%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                         | Venture Global LNG Inc                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  17015000 | PA      | $18386204.82  | 0.81%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Aimco                                          | AIMCO CLO 18 Ltd                                                                | CUSIP: 00889FAG7<br>LEI: 2549005IX0D6XDJNNS95 | Long             | ABS-CBDO         | CORP              | JE        |    850000 | PA      | $851952.45    | 0.04%             | 2037-07-20      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| INEOS US PETROCHEM LLC                         | INEOS US PETROCHEM LLC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6513675 | PA      | $5943728.44   | 0.26%             | 2031-10-07      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                           | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9560000 | PA      | $10111306.08  | 0.44%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                     | Carvana Co                                                                      | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   5117703 | PA      | $6067762.09   | 0.27%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                 | Carlyle US CLO 2024-5 Ltd                                                       | CUSIP: 14319LAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1603731.20   | 0.07%             | 2036-10-25      | Floating      | 9.93%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                        | Light & Wonder International Inc                                                | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   6265000 | PA      | $6458467.59   | 0.28%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                          | Palmer Square CLO 2018-1 Ltd                                                    | CUSIP: 69689GAE7<br>LEI: 549300A8L0VCZ9626397 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001194.00   | 0.04%             | 2037-04-18      | Floating      | 11.21%                | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                       | Fortress Transportation and Infrastructure Investors LLC                        | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |  13995000 | PA      | $14459885.91  | 0.63%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                       | Snap Inc                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |  12620000 | PA      | $12957597.62  | 0.57%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FORM TECHNOLOGIES LLC                          | FORM TECHNOLOGIES LLC                                                           | CUSIP: 34634FAF6<br>LEI: X7KHAIMGSSPZ1XIJIL51 | Long             | LON              | CORP              | US        |   5870000 | PA      | $5444425.00   | 0.24%             | 2030-07-22      | Floating      | 10.07%                | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                       | Focus Financial Partners LLC                                                    | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |  13172000 | PA      | $13454394.51  | 0.59%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UKG INC                                        | UKG Inc                                                                         | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |  12225000 | PA      | $12691995.00  | 0.56%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3563000 | PA      | $2637997.10   | 0.12%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Corp                                                                     | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |  17255000 | PA      | $17684183.62  | 0.78%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1695000 | PA      | $1691455.08   | 0.07%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |  21010000 | PA      | $22284424.58  | 0.98%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  10946000 | PA      | $5117255.00   | 0.22%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                          | Silver Point Clo 5 Ltd                                                          | CUSIP: 82809HAA1<br>LEI: 254900IB4JHW6SUR0Q75 | Long             | ABS-CBDO         | CORP              | KY        |   2700000 | PA      | $2706782.40   | 0.12%             | 2037-10-20      | Floating      | 10.67%                | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                         | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   2270000 | PA      | $2426366.68   | 0.11%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                 | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |  13570000 | PA      | $13834248.61  | 0.61%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Bear Mountain Park CLO, Ltd                    | Bear Mountain Park CLO Ltd                                                      | CUSIP: 07403KAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1500585.00   | 0.07%             | 2037-07-15      | Floating      | 10.21%                | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                                | Goat Holdco LLC                                                                 | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6220000 | PA      | $6328694.50   | 0.28%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6520000 | PA      | $6620887.87   | 0.29%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                            | White Cap Buyer LLC                                                             | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21190000 | PA      | $21173961.29  | 0.93%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24785000 | PA      | $25299444.90  | 1.11%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                        | Zebra Technologies Corp                                                         | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $4064360.40   | 0.18%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                 | AMMC CLO 23 Ltd                                                                 | CUSIP: 00177JBU8<br>LEI: 549300ICO4ZE2FVC2Y46 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000000.00   | 0.09%             | 2035-04-17      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                          | CLOVER HOLDINGS 2 LLC                                                           | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14845000 | PA      | $15012006.25  | 0.66%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD                     | Atlas Senior Loan Fund XX Ltd                                                   | CUSIP: 049410AY9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1750000 | PA      | $1759936.50   | 0.08%             | 2037-10-19      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| TCW Ltd                                        | TCW CLO 2022-1 Ltd                                                              | CUSIP: 871978AE2<br>LEI: 254900KPK0PRXM6I7271 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2004188.00   | 0.09%             | 2038-01-20      | Floating      | 10.82%                | No            |                  2 | On Loan: No      |
| Elmwood CLO IX Ltd                             | Elmwood CLO IX Ltd                                                              | CUSIP: 29003VAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2465470.00   | 0.11%             | 2038-04-20      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                          | HUB International Ltd                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   5860000 | PA      | $6128212.20   | 0.27%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  24180000 | PA      | $23528801.17  | 1.03%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   5345000 | PA      | $5392472.69   | 0.24%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                 | Azorra Finance Ltd                                                              | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |  13970000 | PA      | $14579762.56  | 0.64%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                       | Connect Finco SARL / Connect US Finco LLC                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  14985000 | PA      | $15080574.33  | 0.66%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                       | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   8375000 | PA      | $8751908.50   | 0.38%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| TOUCAN FINCO LTD/CAN/US                        | Toucan FinCo Ltd/Toucan FinCo Can Inc/Toucan FinCo US LLC                       | CUSIP: 89157UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   6100000 | PA      | $6240773.97   | 0.27%             | 2030-05-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                         | Cloud Software Group Inc                                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   6085000 | PA      | $6145594.43   | 0.27%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  10380000 | PA      | $7313124.16   | 0.32%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                       | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2390000 | PA      | $2475542.64   | 0.11%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                         | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   9035000 | PA      | $9194395.47   | 0.40%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                             | Banco Santander SA                                                              | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |  19200000 | PA      | $20330380.80  | 0.89%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BIS INDUSTRIES (ARTSONIG)                      | BIS INDUSTRIES (ARTSONIG)                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  19682813 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GRAY MEDIA INC                                 | Gray Media Inc                                                                  | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |  23550000 | PA      | $17678895.51  | 0.78%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                             | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   5697000 | PA      | $5907504.15   | 0.26%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                          | Bath & Body Works Inc                                                           | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1347000 | PA      | $1388513.19   | 0.06%             | 2033-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                          | Nabors Industries Inc                                                           | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |  10655000 | PA      | $10210616.18  | 0.45%             | 2030-01-31      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                    | TENNECO INC                                                                     | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |   6277275 | PA      | $6154346.88   | 0.27%             | 2028-11-17      | Floating      | 9.47%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO LTD.                               | BBAM US CLO III Ltd                                                             | CUSIP: 054972AA2<br>LEI: 54930064Z7YZMOXBC128 | Long             | ABS-CBDO         | CORP              | KY        |   3550000 | PA      | $3568339.30   | 0.16%             | 2038-10-15      | Floating      | 12.86%                | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                       | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2335000 | PA      | $2473871.79   | 0.11%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ASG WRRNT CORP - COM STK                       | ASG WRRNT CORP - COM STK                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19688 | NS      | $0.02         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LIGHTNING POWER LLC                            | Lightning Power LLC                                                             | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |  16700000 | PA      | $17586781.69  | 0.77%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                                | Invesco US CLO 2024-3 Ltd                                                       | CUSIP: 46148MAA5<br>LEI: 254900GU4U8LUX3GA959 | Long             | ABS-CBDO         | CORP              | JE        |   3500000 | PA      | $3494235.50   | 0.15%             | 2037-07-20      | Floating      | 10.77%                | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                         | Sable International Finance Ltd                                                 | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |  13695000 | PA      | $13743302.27  | 0.60%             | 2032-10-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                                    | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |  14090000 | PA      | $13857586.86  | 0.61%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                          | Palmer Square CLO 2024-2 LTD                                                    | CUSIP: 69703LAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2497195.00   | 0.11%             | 2037-07-20      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDIN                        | SCIENTIFIC GAMES HOLDINGS LP                                                    | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |  18303896 | PA      | $18301992.47  | 0.80%             | 2029-04-04      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                                                   | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |  12835739 | NS      | $12835739.42  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Oaktree CLO Ltd                                | Oaktree CLO 2020-1 Ltd                                                          | CUSIP: 67402GAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2798342.40   | 0.12%             | 2038-01-15      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                          | Directv Financing LLC                                                           | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2530000 | PA      | $2483169.19   | 0.11%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                       | Rogers Communications Inc                                                       | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |  10860000 | PA      | $11013281.30  | 0.48%             | 2055-04-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| HEARTLAND DENTAL LLC                           | HEARTLAND DENTAL LLC                                                            | CUSIP: 42236WAW7<br>LEI: 5493008FRC0GRKBN1075 | Long             | LON              | CORP              | US        |  20811562 | PA      | $20854309.44  | 0.92%             | 2028-04-28      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                       | Brandywine Operating Partnership LP                                             | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |   2265000 | PA      | $2454033.28   | 0.11%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| COTIVITI INC                                   | COTIVITI INC                                                                    | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |  14040000 | PA      | $14127750.00  | 0.62%             | 2031-05-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TCW Ltd                                        | TCW CLO 2024-2 Ltd                                                              | CUSIP: 87252HAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2504670.00   | 0.11%             | 2037-07-17      | Floating      | 11.53%                | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                          | KKR CLO 27 LTD                                                                  | CUSIP: 48254AAG4<br>LEI: 5493007WGG1LNIZXEI24 | Long             | ABS-CBDO         | CORP              | KY        |   3450000 | PA      | $3324937.50   | 0.15%             | 2035-01-15      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                        | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2572720.00   | 0.11%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| S&S HOLDINGS LLC                               | S&S Holdings LLC                                                                | CUSIP: 78525CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9545000 | PA      | $9336086.68   | 0.41%             | 2031-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3555000 | PA      | $2837529.90   | 0.12%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Brookhaven Park CLO Ltd                        | Brookhaven Park CLO LTD                                                         | CUSIP: 113525AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3489125.50   | 0.15%             | 2037-04-19      | Floating      | 10.77%                | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                          | NGL Energy Operating LLC / NGL Energy Finance Corp                              | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13785000 | PA      | $13837700.06  | 0.61%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                       | Permian Resources Operating LLC                                                 | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2290976.49   | 0.10%             | 2031-07-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                              | Waste Pro USA Inc                                                               | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $6555893.40   | 0.29%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                 | Carlyle US CLO 2024-1 Ltd                                                       | CUSIP: 142924AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3100000 | PA      | $3113785.70   | 0.14%             | 2037-04-15      | Floating      | 11.18%                | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                          | Capstone Borrower Inc                                                           | CUSIP: 140944AB5<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |   4890000 | PA      | $5093004.93   | 0.22%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                          | Genesee & Wyoming Inc                                                           | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |  14280000 | PA      | $14588776.44  | 0.64%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                             | Bausch + Lomb Corp                                                              | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |  14454886 | PA      | $14453079.51  | 0.63%             | 2027-05-10      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                       | Madison Park Funding XXX LTD                                                    | CUSIP: 55822HAG7<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | PA      | $2098141.50   | 0.09%             | 2037-07-16      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                        | VZ Secured Financing BV                                                         | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |  13710000 | PA      | $12208047.56  | 0.54%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                     | Clover CLO 2021-3 LLC                                                           | CUSIP: 18915FAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2280000 | PA      | $2257637.76   | 0.10%             | 2035-01-25      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                           | Amentum Holdings Inc                                                            | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |  10945000 | PA      | $11271795.81  | 0.49%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                         | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   8035000 | PA      | $7984568.32   | 0.35%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                               | Vital Energy Inc                                                                | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |  12905000 | PA      | $11044043.51  | 0.48%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                        | Stagwell Global LLC                                                             | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |  14375000 | PA      | $13764992.56  | 0.60%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                             | Cerdia Finanz GmbH                                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |  13700000 | PA      | $14233889.00  | 0.62%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                      | IQVIA Inc                                                                       | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6164809.20   | 0.27%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                 | CARLYLE US CLO 2021-11 LTD                                                      | CUSIP: 143124AG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1995760.00   | 0.09%             | 2037-07-25      | Floating      | 10.78%                | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                                | Invesco US CLO 2023-4 Ltd                                                       | CUSIP: 46091YAA6<br>LEI: 254900CLWY1AN9F4PD86 | Long             | ABS-CBDO         | CORP              | JE        |   1200000 | PA      | $1212272.40   | 0.05%             | 2037-01-18      | Floating      | 12.28%                | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO                  | ABPCI Direct Lending Fund CLO II LLC                                            | CUSIP: 000840AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1962802.00   | 0.09%             | 2037-07-20      | Floating      | 11.77%                | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   8110000 | PA      | $8278615.01   | 0.36%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                       | Standard Building Solutions Inc                                                 | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |  13825000 | PA      | $14174551.30  | 0.62%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CBAMR Ltd                                      | CBAMR 2021-15 LLC                                                               | CUSIP: 149918AQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3000000 | PA      | $2950836.00   | 0.13%             | 2038-01-20      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                          | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2560000 | PA      | $2709125.12   | 0.12%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                        | Dryden 109 CLO Ltd                                                              | CUSIP: 26248LAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   3500000 | PA      | $3497875.50   | 0.15%             | 2038-04-15      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| STS OPERATING INC                              | STS OPERATING INC                                                               | CUSIP: 12508KAJ6<br>LEI: 549300HW5C2VGPZCHL57 | Long             | LON              | CORP              | US        |  14101500 | PA      | $13910537.49  | 0.61%             | 2031-03-25      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                 | Bombardier Inc                                                                  | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   6805000 | PA      | $7151714.75   | 0.31%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                          | Civitas Resources Inc                                                           | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |  10970000 | PA      | $11254353.37  | 0.49%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                 | Barings CLO Ltd 2024-II                                                         | CUSIP: 067937AA0<br>LEI: 549300KMDW0AZOKOC583 | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | PA      | $2094481.20   | 0.09%             | 2039-07-15      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                         | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |  11640000 | PA      | $12075980.86  | 0.53%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                              | Iliad Holding SASU                                                              | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |  20110000 | PA      | $21528257.75  | 0.95%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                       | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                 | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   9177000 | PA      | $9200126.04   | 0.40%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3320000 | PA      | $3454811.92   | 0.15%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                       | Weatherford International Ltd                                                   | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |  22675000 | PA      | $23386704.76  | 1.03%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                   | SM Energy Co                                                                    | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   6074000 | PA      | $5991561.24   | 0.26%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Aimco                                          | Aimco CLO 15 Ltd                                                                | CUSIP: 00889CAE9<br>LEI: 254900QER1MDK5C1YE06 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1993650.00   | 0.09%             | 2038-04-17      | Floating      | 8.88%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                               | UWM Holdings LLC                                                                | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4054000 | PA      | $4062020.84   | 0.18%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                  | CommScope LLC                                                                   | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   2720000 | PA      | $2711612.88   | 0.12%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                          | Caesars Entertainment Inc                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   8210000 | PA      | $8507259.47   | 0.37%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17150000 | PA      | $17386258.40  | 0.76%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                            | NOVA Chemicals Corp                                                             | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |  12770000 | PA      | $13807017.22  | 0.61%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                 | Bain Capital Credit CLO 2017-2 Ltd                                              | CUSIP: 05682TAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1996784.00   | 0.09%             | 2037-07-25      | Floating      | 11.62%                | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt                 | Benefit Street Partners CLO XII-B Ltd                                           | CUSIP: 081918AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2502425.00   | 0.11%             | 2037-10-15      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| USALCO LLC                                     | USALCO LLC                                                                      | CUSIP: 91732NAM5<br>LEI: 5493006WBYB0CYPCSG20 | Long             | LON              | CORP              | US        |    584258 | PA      | $587909.85    | 0.03%             | 2031-09-30      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| NEW COTAI EQUITY                               | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25410336 | PA      | $23699038.30  | 1.04%             | 2027-02-02      | Fixed         | 5.00%                 | Yes           |                  3 | On Loan: No      |
| Neuberger Berman CLO Ltd                       | Neuberger Berman CLO XX Ltd                                                     | CUSIP: 64130UAQ5<br>LEI: 549300NPF57YF6WBDP72 | Long             | ABS-CBDO         | CORP              | KY        |   3250000 | PA      | $3184252.50   | 0.14%             | 2039-04-15      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                  | Ballyrock CLO 25 Ltd                                                            | CUSIP: 05875WAA8<br>LEI: 2549000LY2B016K4LA62 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2998236.00   | 0.13%             | 2038-01-25      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                               | Empower CLO 2022-1 Ltd                                                          | CUSIP: 29246YAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2749535.25   | 0.12%             | 2037-10-20      | Floating      | 10.17%                | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2255741.27   | 0.10%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                 | Barings CLO Ltd 2024-V                                                          | CUSIP: 06763YAN9<br>LEI: 25490047AECQPJIDJC73 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2512107.50   | 0.11%             | 2038-07-15      | Floating      | 8.45%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | CLYDESDALE ACQUISITION HOLDINGS INC                                             | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     44317 | PA      | $44194.66     | 0.00%             | 2032-03-29      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                          | Caesars Entertainment Inc                                                       | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   6890000 | PA      | $7074244.11   | 0.31%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                          | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |   2891000 | PA      | $2985541.48   | 0.13%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL                       | Cheplapharm Arzneimittel GmbH                                                   | CUSIP: 16412EAA5<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |  13495000 | PA      | $13053861.95  | 0.57%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                              | Magnetite Xlv Ltd                                                               | CUSIP: 55956DAA7<br>LEI: 529900IK6R4NURGLMB37 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2487595.00   | 0.11%             | 2038-04-15      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                 | Golub Capital Partners CLO 76 B Ltd                                             | CUSIP: 38180CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1150000 | PA      | $1149091.50   | 0.05%             | 2037-10-25      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| RR Ltd                                         | RR 28 Ltd                                                                       | CUSIP: 74989QAA0<br>LEI: 254900ZSKVCYOXP11C98 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1798983.00   | 0.08%             | 2037-04-15      | Floating      | 11.26%                | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                          | eG Global Finance PLC                                                           | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |   2180000 | PA      | $2408854.22   | 0.11%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                               | AMC Networks Inc                                                                | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   5730000 | PA      | $5944875.00   | 0.26%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| TEREX CORP                                     | Terex Corp                                                                      | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |  13020000 | PA      | $13055101.92  | 0.57%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                   | UBS Group AG                                                                    | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2775000 | PA      | $2794116.98   | 0.12%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                     | Phinia Inc                                                                      | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |   6498000 | PA      | $6603907.00   | 0.29%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                 | Transocean Inc                                                                  | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |  17617000 | PA      | $17366466.88  | 0.76%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                          | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $13215372.80  | 0.58%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3495000 | PA      | $3628659.29   | 0.16%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| USALCO LLC                                     | USALCO LLC                                                                      | CUSIP: 91732NAL7<br>LEI: 5493006WBYB0CYPCSG20 | Long             | LON              | CORP              | US        |   5642388 | PA      | $5677652.99   | 0.25%             | 2031-09-30      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                         | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8435000 | PA      | $8705422.73   | 0.38%             | 2032-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                  | Life Time Inc                                                                   | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |  13510000 | PA      | $13733928.25  | 0.60%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                               | Bank of Montreal                                                                | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |  10435000 | PA      | $10801101.54  | 0.47%             | 2084-05-26      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                   | UBS Group AG                                                                    | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   9500000 | PA      | $9484698.35   | 0.42%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | CLYDESDALE ACQUISITION HOLDINGS INC                                             | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   2534951 | PA      | $2527934.23   | 0.11%             | 2032-03-29      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                            | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   9277000 | PA      | $9539548.38   | 0.42%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                               | Wand NewCo 3 Inc                                                                | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |  13368000 | PA      | $14060850.07  | 0.62%             | 2032-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                       | Archrock Partners LP / Archrock Partners Finance Corp                           | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13235000 | PA      | $13493115.59  | 0.59%             | 2032-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LSF12 CROWN US COMMERCIA                       | LSF12 CROWN US COMMERCIAL BIDCO LLC                                             | CUSIP: 50221UAC5<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |   7411000 | PA      | $7459630.98   | 0.33%             | 2031-12-02      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                               | Arches Buyer Inc                                                                | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   8394000 | PA      | $7727571.80   | 0.34%             | 2028-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                   | Entegris Inc                                                                    | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |  12615000 | PA      | $12827739.36  | 0.56%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                                  | OFSI BSL XIV CLO Ltd                                                            | CUSIP: 67119HAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1996684.00   | 0.09%             | 2037-07-20      | Floating      | 12.01%                | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   3765000 | PA      | $3837946.88   | 0.17%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TCW Ltd                                        | TCW CLO 2024-3 Ltd                                                              | CUSIP: 87252WAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2300000 | PA      | $2305179.60   | 0.10%             | 2037-10-20      | Floating      | 10.87%                | No            |                  2 | On Loan: No      |
| SPX FLOW INC                                   | SPX FLOW INC                                                                    | CUSIP: 78470DAV0<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |   9015000 | PA      | $9053737.46   | 0.40%             | 2029-04-05      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                          | Williams Scotsman Inc                                                           | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   8510000 | PA      | $8846749.21   | 0.39%             | 2030-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                | Sealed Air Corp                                                                 | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   5035000 | PA      | $5220731.08   | 0.23%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                          | DIRECTV FINANCING LLC                                                           | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3604900 | PA      | $3460704.00   | 0.15%             | 2031-02-18      | Floating      | 9.83%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                          | Manitowoc Co Inc/The                                                            | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |   6840000 | PA      | $7207259.44   | 0.32%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI                       | Midcontinent Communications                                                     | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |  13065000 | PA      | $13842681.06  | 0.61%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                          | Bath & Body Works Inc                                                           | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |  22735000 | PA      | $23610797.67  | 1.04%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                       | Albion Financing 1 SARL / Aggreko Holdings Inc                                  | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   5725000 | PA      | $5856831.29   | 0.26%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                          | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   7980000 | PA      | $8644670.16   | 0.38%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                          | HUB International Ltd                                                           | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  13935000 | PA      | $14589295.63  | 0.64%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                        | Starwood Property Trust Inc                                                     | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   4116000 | PA      | $4254030.06   | 0.19%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                            | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   2849000 | PA      | $2953042.63   | 0.13%             | 2032-09-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Lt                 | Benefit Street Partners CLO Ltd                                                 | CUSIP: 08182EAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2185000 | PA      | $2139545.45   | 0.09%             | 2038-04-20      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1547644.02   | 0.07%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Aimco                                          | Aimco CLO 19 Ltd                                                                | CUSIP: 00140JAA7<br>LEI: 2549006V0NZR61IYZY19 | Long             | ABS-CBDO         | CORP              | JE        |   2100000 | PA      | $2078666.10   | 0.09%             | 2037-10-20      | Floating      | 9.27%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                        | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                 | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3661000 | PA      | $3883561.34   | 0.17%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                   | AGL CLO 32 Ltd                                                                  | CUSIP: 00121CAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2004452.00   | 0.09%             | 2037-07-21      | Floating      | 10.02%                | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HLDGS                        | Cumulus Media New Holdings Inc                                                  | CUSIP: 23110AAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |  18686000 | PA      | $5278795.00   | 0.23%             | 2029-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                              | Herc Holdings Inc                                                               | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   2595000 | PA      | $2720731.12   | 0.12%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                              | Cedar Funding IX CLO Ltd                                                        | CUSIP: 15033FAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1978686.00   | 0.09%             | 2037-07-20      | Floating      | 11.80%                | No            |                  2 | On Loan: No      |
| USI INC/NY                                     | USI Inc/NY                                                                      | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |  10450000 | PA      | $11039474.05  | 0.48%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                        | Surgery Center Holdings Inc                                                     | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |  14265000 | PA      | $14554038.86  | 0.64%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                       | Olympus Water US Holding Corp                                                   | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2695017.60   | 0.12%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                          | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   5840000 | PA      | $5974874.80   | 0.26%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET                       | Advantage Sales & Marketing Inc                                                 | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |  13794000 | PA      | $10764630.69  | 0.47%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  10260000 | PA      | $10635962.31  | 0.47%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Eaton Vance CLO                 | Morgan Stanley Eaton Vance CLO 2025-21 Ltd                                      | CUSIP: 617935AA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1090000 | PA      | $1079667.89   | 0.05%             | 2038-04-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                   | SM Energy Co                                                                    | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   4825000 | PA      | $4811459.60   | 0.21%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                           | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |  19795000 | PA      | $18684724.18  | 0.82%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                           | LifePoint Health Inc                                                            | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   5395000 | PA      | $5958486.17   | 0.26%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                       | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   9350000 | PA      | $9689517.20   | 0.43%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                       | Permian Resources Operating LLC                                                 | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   4495000 | PA      | $4662694.97   | 0.20%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5582000 | PA      | $5724659.17   | 0.25%             | 2029-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                         | AthenaHealth Group Inc                                                          | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |  10920000 | PA      | $10758553.26  | 0.47%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                        | K Hovnanian Enterprises Inc                                                     | CUSIP: 48251UAM0<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |   7880000 | PA      | $8552242.80   | 0.38%             | 2029-09-30      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                 | Gray Media Inc                                                                  | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |  16210000 | PA      | $12279075.00  | 0.54%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                                                     | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |  12835739 | NS      | $12835739.42  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| True Religion 2026 Escrow                      | True Religion 2026 Escrow                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       395 | NS      | $379456.85    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                                    | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |   1135116 | PA      | $1139372.44   | 0.05%             | 2029-06-25      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                              | CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   4880000 | PA      | $4883050.00   | 0.21%             | 2032-01-28      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                             | CommScope Technologies LLC                                                      | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   4085000 | PA      | $3982279.41   | 0.17%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                   | ARES Loan Funding III Ltd                                                       | CUSIP: 04019PAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999649.00    | 0.04%             | 2036-07-25      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                        | Garrett Motion Holdings Inc / Garrett LX I Sarl                                 | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19248000 | PA      | $20057282.16  | 0.88%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                   | Barclays PLC                                                                    | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  18050000 | PA      | $20093404.40  | 0.88%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                       | Olympus Water US Holding Corp                                                   | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |  14735000 | PA      | $15534815.80  | 0.68%             | 2028-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                          | Mineral Resources Ltd                                                           | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   3455000 | PA      | $3540193.39   | 0.16%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                              | Park Blue CLO 2022-1 Ltd                                                        | CUSIP: 699903AG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2100000 | PA      | $2101827.00   | 0.09%             | 2037-10-20      | Floating      | 11.36%                | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                | OHA Credit Funding 11 Ltd                                                       | CUSIP: 67116BAG0<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |   2200000 | PA      | $2205130.40   | 0.10%             | 2037-07-19      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |  10040000 | PA      | $10276080.56  | 0.45%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   6795000 | PA      | $6031904.51   | 0.26%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                       | Jefferies Finance LLC / JFIN Co-Issuer Corp                                     | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7250000 | PA      | $7013765.28   | 0.31%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                           | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6406000 | PA      | $6805061.77   | 0.30%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                       | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17255000 | PA      | $14989171.75  | 0.66%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                              | Herc Holdings Inc                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3810000 | PA      | $3981382.56   | 0.17%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                | Oaktree CLO 2019-3 Ltd                                                          | CUSIP: 67400GAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3300000 | PA      | $3285199.50   | 0.14%             | 2038-01-20      | Floating      | 11.02%                | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                        | Crescent Energy Finance LLC                                                     | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   5154000 | PA      | $5160748.65   | 0.23%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MARITIME FINANCE CO LTD                        | MARITIME FINANCE CO LTD                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1750000 | NS      | $559042.75    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10220000 | PA      | $9768090.00   | 0.43%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                               | AMC Networks Inc                                                                | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |  12146000 | PA      | $9741881.49   | 0.43%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                 | Barings CLO Ltd 2018-II                                                         | CUSIP: 06760KAE2<br>LEI: 549300I8OP7Y4MO3JF74 | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1794304.80   | 0.08%             | 2036-07-15      | Floating      | 11.16%                | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8245000 | PA      | $8266738.77   | 0.36%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                       | Jefferies Finance LLC / JFIN Co-Issuer Corp                                     | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13600000 | PA      | $13563645.84  | 0.60%             | 2031-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                               | Symphony CLO 39 Ltd                                                             | CUSIP: 87169UAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   3750000 | PA      | $3747303.75   | 0.16%             | 2038-01-25      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                 | Bombardier Inc                                                                  | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   5590000 | PA      | $6058604.11   | 0.27%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund                                  | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |  12835739 | NS      | $12835739.16  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                                    | Vistra Corp                                                                     | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |  32965000 | PA      | $33382930.27  | 1.47%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 17 Ltd                             | Elmwood CLO 17 Ltd                                                              | CUSIP: 29003GAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000902.00   | 0.09%             | 2037-07-17      | Floating      | 9.98%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                         | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAD2<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |  11765000 | PA      | $12240270.71  | 0.54%             | 2032-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO                  | ABPCI Direct Lending Fund CLO II LLC                                            | CUSIP: 000823BC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001265.00   | 0.04%             | 2037-07-20      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                        | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC         | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3226000 | PA      | $3332274.12   | 0.15%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   9330000 | PA      | $9551839.41   | 0.42%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                       | Neuberger Berman Loan Advisers CLO 59 Ltd                                       | CUSIP: 640962AL0<br>LEI: 254900ERHU6RJHYSL744 | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1101535.60   | 0.05%             | 2039-01-23      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                 | Transocean Inc                                                                  | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |  11185000 | PA      | $9993441.82   | 0.44%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                    | Staples Inc                                                                     | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |  13525000 | PA      | $12868024.48  | 0.56%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                               | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   7630000 | PA      | $7731280.62   | 0.34%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                          | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2250000 | PA      | $2413584.00   | 0.11%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| CIMPRESS PLC                                   | Cimpress PLC                                                                    | CUSIP: 17186HAH5<br>LEI: 549300X1IFD75XISOR81 | Long             | DBT              | CORP              | IE        |   9505000 | PA      | $9084426.56   | 0.40%             | 2032-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                            | Sound Point CLO 2025R-1 Ltd                                                     | CUSIP: 83617HAA1<br>LEI: 25490031SR8APTVC6E71 | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1598324.80   | 0.07%             | 2038-02-20      | Floating      | 11.90%                | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                          | CMG Media Corp                                                                  | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14477000 | PA      | $13683129.09  | 0.60%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                   | Magnera Corp                                                                    | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |   9545000 | PA      | $9008332.38   | 0.40%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WESTMORELAND COAL                              | WESTMORELAND COAL                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4238 | NS      | $3178.76      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FORESIGHT ENERGY                               | FORESIGHT ENERGY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1117414 | NS      | $2623128.52   | 0.12%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration