# EDGAR Filing Document

**Accession Number:** 0001860151
**File Stem:** 0001752724-25-183696
**Filing Date:** 2025-7
**Character Count:** 192387
**Document Hash:** 805d02fe8320b9bf41ab3d5ee6877a41
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-183696.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001752724-25-183696

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Dynamic Credit Opportunity Fund
- **CENTRAL INDEX KEY:** 0001860151

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23665
- **FILM NUMBER:** 251166443

**BUSINESS ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 800-959-4246

**MAIL ADDRESS:**
- **STREET 1:** 11 GREENWAY PLAZA
- **STREET 2:** SUITE 1000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

## Nport-Ex

**Consolidated Schedule of Investments** 

*May 31, 2025*

*(Unaudited)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Variable Rate Senior Loan Interests–91.89%**<sup>(b)(c)</sup>  | **Variable Rate Senior Loan Interests–91.89%**<sup>(b)(c)</sup>  | **Variable Rate Senior Loan Interests–91.89%**<sup>(b)(c)</sup>  | **Variable Rate Senior Loan Interests–91.89%**<sup>(b)(c)</sup>  | **Variable Rate Senior Loan Interests–91.89%**<sup>(b)(c)</sup>  | **Variable Rate Senior Loan Interests–91.89%**<sup>(b)(c)</sup>  |
| **Aerospace & Defense–1.26%** | **Aerospace & Defense–1.26%** | **Aerospace & Defense–1.26%** | **Aerospace & Defense–1.26%** |  |  |
| Engineering Research and Consulting LLC, First Lien Term Loan (3 mo. Term SOFR + 5.00%)<sup>(d)</sup> <br>| 9.29% | 08/15/2031 |  | $708 | &nbsp;&nbsp; $700293 |
| FDH Group Acquisition, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 10/21/2031 |  | 272 | &nbsp;&nbsp; 270830 |
| &nbsp;&nbsp;&nbsp; Term Loan B (1 mo. Term SOFR + 4.75%)<sup>(d)(e)</sup> <br>| 9.08% | 10/21/2031 |  | 726 | &nbsp;&nbsp; 722659 |
| NAC Aviation 8 Ltd. (Ireland), Revolver Loan<sup>(d)(f)</sup> <br>| 0.00% | 12/31/2026 |  | 1643 | &nbsp;&nbsp; 1642458 |
|  |  |  |  |  | &nbsp;&nbsp; 3336240 |
| **Automotive–0.19%** | **Automotive–0.19%** | **Automotive–0.19%** | **Automotive–0.19%** |  |  |
| First Brands Group LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Incremental Term Loan (3 mo. Term SOFR + 5.00%) | 9.54% | 03/30/2027 |  | 450 | &nbsp;&nbsp; 436283 |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 5.00%) <br>(Acquired 10/17/2024; Cost $61,184)<sup>(g)</sup> <br>| 9.54% | 03/30/2027 |  | 62 | &nbsp;&nbsp; 60229 |
|  |  |  |  |  | &nbsp;&nbsp; 496512 |
| **Beverage & Tobacco–0.26%** | **Beverage & Tobacco–0.26%** | **Beverage & Tobacco–0.26%** | **Beverage & Tobacco–0.26%** |  |  |
| City Brewing Co. LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 6.25%) <br>(Acquired 04/17/2024-04/25/2024; Cost $345,605)<sup>(d)(g)</sup> <br>| 10.51% | 04/05/2028 |  | 366 | &nbsp;&nbsp; 149866 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 9.26%) <br>(Acquired 01/06/2025-03/03/2025; Cost $131,659)<sup>(d)(g)</sup> <br>| 13.58% | 01/03/2026 |  | 141 | &nbsp;&nbsp; 130479 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 3.75%) <br>(Acquired 04/15/2024; Cost $905,086)<sup>(d)(g)</sup> <br>| 8.02% | 04/05/2028 |  | 958 | &nbsp;&nbsp; 392677 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 5.26%) <br>(Acquired 04/15/2024-04/15/2025; Cost $766,132)<sup>(g)</sup> <br>| 9.52% | 04/05/2028 |  | 972 | &nbsp;&nbsp; 22490 |
|  |  |  |  |  | &nbsp;&nbsp; 695512 |
| **Building & Development–3.10%** | **Building & Development–3.10%** | **Building & Development–3.10%** | **Building & Development–3.10%** |  |  |
| Brookfield Retail Holdings VII Sub 3 LLC, Term Loan B <sup>(d)(h)</sup> <br>| – | 05/28/2030 |  | 1458 | &nbsp;&nbsp; 1446900 |
| Empire Today LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 5.26%)<sup>(d)</sup> <br>| 9.54% | 08/03/2029 |  | 2135 | &nbsp;&nbsp; 950288 |
| &nbsp;&nbsp;&nbsp; Term Loan A (3 mo. Term SOFR + 5.76%)<sup>(d)</sup> <br>| 10.04% | 08/03/2029 |  | 637 | &nbsp;&nbsp; 579454 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. Term SOFR + 5.76%)<sup>(d)</sup> <br>| 10.04% | 08/03/2029 |  | 635 | &nbsp;&nbsp; 577734 |
| Interior Logic Group, Inc. (Signal Parent), Term Loan B (1 mo. Term SOFR + 3.60%) | 7.88% | 04/01/2028 |  | 1046 | &nbsp;&nbsp; 710113 |
| LHS Borrow LLC (Leaf Home Solutions), Term Loan (1 mo. Term SOFR + 4.85%) | 9.18% | 02/16/2029 |  | 1543 | &nbsp;&nbsp; 1467402 |
| OmniMax International LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan (3 mo. Term SOFR + 5.73%)<sup>(d)(e)</sup> <br>| 10.08% | 12/06/2031 |  | 590 | &nbsp;&nbsp; 578615 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. USD LIBOR + 5.75%)<sup>(d)(e)</sup> <br>| 10.03% | 12/06/2031 |  | 1910 | &nbsp;&nbsp; 1873385 |
|  |  |  |  |  | &nbsp;&nbsp; 8183891 |
| **Business Equipment & Services–13.68%** | **Business Equipment & Services–13.68%** | **Business Equipment & Services–13.68%** | **Business Equipment & Services–13.68%** |  |  |
| Checkout Holding Corp. (Catalina Marketing), Term Loan (1 mo. Term SOFR + 7.50%) | 11.83% | 05/10/2027 |  | 266 | &nbsp;&nbsp; 265502 |
| Constant Contact, Inc., Term Loan (3 mo. Term SOFR + 4.00%) | 8.52% | 02/10/2028 |  | 917 | &nbsp;&nbsp; 863928 |
| CV Intermediate Holdco Corp. (Class Valuation), Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 03/31/2026 |  | 1262 | &nbsp;&nbsp; 1261707 |
| Deerfield Dakota Holding Corp., First Lien Term Loan (3 mo. Term SOFR + 3.75%) | 8.05% | 04/09/2027 |  | 1695 | &nbsp;&nbsp; 1651745 |
| DTI HoldCo, Inc., Term Loan B (1 mo. Term SOFR + 4.00%) | 8.33% | 04/26/2029 |  | 276 | &nbsp;&nbsp; 276295 |
| GI Revelation Acquisition LLC, Term Loan B-4 (1 mo. Term SOFR + 3.75%) | 8.08% | 05/12/2028 |  | 1150 | &nbsp;&nbsp; 1146918 |
| Lamark Media Group LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan (3 mo. Term SOFR + 5.10%)<sup>(d)(e)</sup> <br>| 10.14% | 10/14/2027 |  | 1493 | &nbsp;&nbsp; 1493557 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 10/14/2027 |  | 1018 | &nbsp;&nbsp; 1018624 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 5.00%)<sup>(d)(e)</sup> <br>| 9.30% | 10/14/2027 |  | 6899 | &nbsp;&nbsp; 6898628 |
| &nbsp;&nbsp;&nbsp; Monitronics International, Inc., DIP Term Loan A (1 mo. Term SOFR + 7.76%) <br>(Acquired 06/30/2023; Cost $5,981,876)<sup>(g)</sup> <br>| 12.09% | 06/30/2028 |  | 5982 | &nbsp;&nbsp; 5956962 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Business Equipment & Services–(continued)** | **Business Equipment & Services–(continued)** | **Business Equipment & Services–(continued)** | **Business Equipment & Services–(continued)** |  |  |
| NAS LLC (d.b.a. Nationwide Marketing Group) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 04/01/2026 |  | $322 | &nbsp;&nbsp; $303808 |
| &nbsp;&nbsp;&nbsp; Revolver Loan (3 mo. Term SOFR + 6.65%)<sup>(d)(e)</sup> <br>| 10.96% | 04/01/2026 |  | 598 | &nbsp;&nbsp; 564215 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 6.65%)<sup>(d)(e)</sup> <br>| 10.93% | 06/01/2025 |  | 8649 | &nbsp;&nbsp; 8164770 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 6.65%)<sup>(d)(e)</sup> <br>| 10.93% | 06/01/2025 |  | 2709 | &nbsp;&nbsp; 2557047 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 6.65%)<sup>(d)(e)</sup> <br>| 10.93% | 06/01/2025 |  | 1643 | &nbsp;&nbsp; 1551081 |
| Spin Holdco, Inc., Term Loan (3 mo. Term SOFR + 4.26%) | 8.56% | 03/04/2028 |  | 1659 | &nbsp;&nbsp; 1427296 |
| UnitedLex Corp., Term Loan (1 mo. USD LIBOR + 4.75%)<sup>(d)</sup> <br>| 10.28% | 03/20/2027 |  | 918 | &nbsp;&nbsp; 676863 |
|  |  |  |  |  | &nbsp;&nbsp; 36078946 |
| **Cable & Satellite Television–12.91%** | **Cable & Satellite Television–12.91%** | **Cable & Satellite Television–12.91%** | **Cable & Satellite Television–12.91%** |  |  |
| Altice Financing S.A. (Altice-Int'l) (Luxembourg) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (3 mo. EURIBOR + 5.00%) | 7.28% | 10/31/2027 | EUR | 3067 | &nbsp;&nbsp; 2912246 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. EURIBOR + 5.00%) | 7.28% | 10/31/2027 | EUR | 2270 | &nbsp;&nbsp; 2155831 |
| Lightning Finco Ltd. (LiveU) (United Kingdom) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan B-1 (3 mo. Term SOFR + 5.50%)<sup>(d)(e)</sup> <br>| 10.24% | 08/31/2028 |  | 18375 | &nbsp;&nbsp; 18375146 |
| &nbsp;&nbsp;&nbsp; Term Loan B-2 (6 mo. EURIBOR + 5.50%)<sup>(d)(e)</sup> <br>| 8.08% | 08/31/2028 | EUR | 1886 | &nbsp;&nbsp; 2141205 |
| Numericable-SFR S.A. (France), Term Loan B-14 (3 mo. EURIBOR + 5.50%) | 7.78% | 08/15/2028 | EUR | 7369 | &nbsp;&nbsp; 7733101 |
| Virgin Media 02 - LG (United Kingdom), Term Loan Y (6 mo. Term SOFR + 3.25%) | 7.37% | 03/31/2031 |  | 750 | &nbsp;&nbsp; 739815 |
|  |  |  |  |  | &nbsp;&nbsp; 34057344 |
| **Chemicals & Plastics–6.43%** | **Chemicals & Plastics–6.43%** | **Chemicals & Plastics–6.43%** | **Chemicals & Plastics–6.43%** |  |  |
| A-Gas Finco, Inc., Term Loan (3 mo. Term SOFR + 5.25%) | 9.55% | 12/14/2029 |  | 1080 | &nbsp;&nbsp; 994931 |
| Flint Group (ColourOz Inv) (Germany), PIK Term Loan B, 6.90% PIK Rate, 4.64% Cash Rate<sup>(i)</sup> <br>| 6.90% | 12/31/2027 |  | 26 | &nbsp;&nbsp; 2965 |
| Ineos US Finance LLC, Term Loan (1 mo. Term SOFR + 3.25%) | 7.58% | 02/18/2030 |  | 1200 | &nbsp;&nbsp; 1164756 |
| Oxea Corp. (OQ Chemicals) (Oman) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan B-1 (3 mo. EURIBOR + 2.78%) | 5.38% | 04/07/2031 | EUR | 2120 | &nbsp;&nbsp; 2304010 |
| &nbsp;&nbsp;&nbsp; Term Loan B-2 (3 mo. Term SOFR + 3.50%) | 7.35% | 04/07/2031 |  | 1520 | &nbsp;&nbsp; 1451364 |
| Proampac PG Borrower LLC, Term Loan (1 mo. Term SOFR + 4.00%) | 8.26% | 09/15/2028 |  | 500 | &nbsp;&nbsp; 500375 |
| Trinseo Materials Operating S.C.A. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (3 mo. Term SOFR + 2.50%) | 7.09% | 05/03/2028 |  | 990 | &nbsp;&nbsp; 430259 |
| &nbsp;&nbsp;&nbsp; Term Loan A (3 mo. Term SOFR + 9.50%) | 12.74% | 05/03/2028 |  | 308 | &nbsp;&nbsp; 311402 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. Term SOFR + 8.50%) | 12.74% | 05/03/2028 |  | 2269 | &nbsp;&nbsp; 2298371 |
| &nbsp;&nbsp;&nbsp; Term Loan C (3 mo. Term SOFR + 8.50%) | 12.74% | 05/03/2028 |  | 268 | &nbsp;&nbsp; 271460 |
| V Global Holdings LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 12/22/2027 |  | 160 | &nbsp;&nbsp; 152613 |
| &nbsp;&nbsp;&nbsp; Revolver Loan (1 mo. Term SOFR + 5.85%)<sup>(d)(e)</sup> <br>| 10.17% | 12/22/2027 |  | 685 | &nbsp;&nbsp; 652847 |
| &nbsp;&nbsp;&nbsp; Term Loan (6 mo. Term SOFR + 6.01%)<sup>(d)(e)</sup> <br>| 10.20% | 12/22/2027 |  | 6740 | &nbsp;&nbsp; 6423139 |
|  |  |  |  |  | &nbsp;&nbsp; 16958492 |
| **Containers & Glass Products–9.99%** | **Containers & Glass Products–9.99%** | **Containers & Glass Products–9.99%** | **Containers & Glass Products–9.99%** |  |  |
| Keg Logistics LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revolver Loan (3 mo. Term SOFR + 6.16%)<sup>(d)(e)</sup> <br>| 10.47% | 11/23/2027 |  | 1366 | &nbsp;&nbsp; 1273346 |
| &nbsp;&nbsp;&nbsp; Term Loan A (1 mo. USD LIBOR + 6.00%)<sup>(d)(e)</sup> <br>| 11.23% | 11/16/2027 |  | 20764 | &nbsp;&nbsp; 19352221 |
| Klockner (KPERST/Kleopatra), Term Loan B (6 mo. EURIBOR + 4.73%) | 7.11% | 02/12/2026 | EUR | 3000 | &nbsp;&nbsp; 3140536 |
| &nbsp;&nbsp;&nbsp; Libbey Glass LLC, Term Loan B (3 mo. Term SOFR + 6.65%) <br>(Acquired 03/29/2024-01/23/2025; Cost $1,882,991)<sup>(g)</sup> <br>| 10.93% | 11/22/2027 |  | 1908 | &nbsp;&nbsp; 1850598 |
| Mold-Rite Plastics LLC (Valcour Packaging LLC), Term Loan A-2 (1 mo. Term SOFR + 1.61%) | 2.25% | 10/04/2028 |  | 849 | &nbsp;&nbsp; 724723 |
|  |  |  |  |  | &nbsp;&nbsp; 26341424 |
| **Ecological Services & Equipment–1.47%** | **Ecological Services & Equipment–1.47%** | **Ecological Services & Equipment–1.47%** | **Ecological Services & Equipment–1.47%** |  |  |
| OGF (VESCAP/Obol France 3/PHM) (Netherlands), Term Loan B (3 mo. EURIBOR + 5.00%) | 7.19% | 12/29/2028 | EUR | 3505 | &nbsp;&nbsp; 3880456 |
| **Electronics & Electrical–7.43%** | **Electronics & Electrical–7.43%** | **Electronics & Electrical–7.43%** | **Electronics & Electrical–7.43%** |  |  |
| GoTo Group, Inc. (LogMeIn) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 4.75%) | 9.18% | 04/30/2028 |  | 1409 | &nbsp;&nbsp; 1240422 |
| &nbsp;&nbsp;&nbsp; Second Lien Term Loan (1 mo. Term SOFR + 4.75%) | 9.18% | 04/30/2028 |  | 1225 | &nbsp;&nbsp; 457096 |
| Infinite Electronics |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 3.25%) | 8.29% | 03/02/2028 |  | 866 | &nbsp;&nbsp; 791999 |
| &nbsp;&nbsp;&nbsp; Second Lien Term Loan (3 mo. Term SOFR + 7.00%) | 11.54% | 03/02/2029 |  | 473 | &nbsp;&nbsp; 408376 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Electronics & Electrical–(continued)** | **Electronics & Electrical–(continued)** | **Electronics & Electrical–(continued)** | **Electronics & Electrical–(continued)** |  |  |
| Learning Pool (Brook Bidco Ltd.) (United Kingdom) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 7.18%)<sup>(d)</sup> <br>| 11.46% | 08/17/2028 |  | $842 | &nbsp;&nbsp; $808677 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. SONIA+6.75%)<sup>(d)</sup> <br>| 11.49% | 08/17/2028 | GBP | 632 | &nbsp;&nbsp; 821320 |
| Mavenir Systems, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan (6 mo. Term SOFR + 10.00%) <br>(Acquired 09/30/2024; Cost $38,497)<sup>(d)(g)</sup> <br>| 14.44% | 06/30/2025 |  | 38 | &nbsp;&nbsp; 52318 |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (1 mo. Term SOFR + 9.86%)<sup>(d)</sup> <br>| 14.26% | 06/30/2025 |  | 116 | &nbsp;&nbsp; 160801 |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (3 mo. Term SOFR + 9.87%)<sup>(d)</sup> <br>| 14.40% | 06/30/2025 |  | 57 | &nbsp;&nbsp; 78370 |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (3 mo. Term SOFR + 10.00%) <br>(Acquired 11/26/2024-12/05/2024; Cost $151,905)<sup>(d)(g)</sup> <br>| 14.42% | 06/30/2025 |  | 154 | &nbsp;&nbsp; 213259 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 10.00%)<sup>(d)</sup> <br>| 14.25% | 06/30/2025 |  | 120 | &nbsp;&nbsp; 162534 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. Term SOFR + 4.75%) <br>(Acquired 08/13/2021; Cost $1,689,845)<sup>(d)(g)</sup> <br>| 9.34% | 08/18/2028 |  | 1698 | &nbsp;&nbsp; 50955 |
| McAfee LLC, Term Loan B (1 mo. Term SOFR + 3.00%) | 7.33% | 03/01/2029 |  | 1000 | &nbsp;&nbsp; 965250 |
| Modena Buyer LLC (End User Computing), Term Loan (3 mo. Term SOFR + 4.50%) | 8.78% | 07/01/2031 |  | 136 | &nbsp;&nbsp; 131810 |
| Natel Engineering Co., Inc., Term Loan (1 mo. Term SOFR + 6.25%) | 10.69% | 04/30/2026 |  | 3196 | &nbsp;&nbsp; 2972427 |
| &nbsp;&nbsp;&nbsp; Native Instruments (Music Creation Group GmbH/APTUS) (Germany), Term Loan B (3 mo. <br> EURIBOR + 4.00%) <br>(Acquired 01/14/2022-03/10/2025; Cost $1,468,266)<sup>(d)(g)</sup> <br>| 6.51% | 03/03/2028 | EUR | 1298 | &nbsp;&nbsp; 1215787 |
| &nbsp;&nbsp;&nbsp; Quest Software US Holdings, Inc., First Lien Term Loan (3 mo. Term SOFR + 4.25%) <br>(Acquired 04/29/2024; Cost $1,335,073)<sup>(d)(g)</sup> <br>| 8.73% | 02/01/2029 |  | 1757 | &nbsp;&nbsp; 1353207 |
| RANGE RED OPER, Inc., Second Lien Term Loan (1 mo. Term SOFR + 8.10%)<sup>(d)</sup> <br>| 12.42% | 10/01/2029 |  | 1 | &nbsp;&nbsp; 0 |
| Renaissance Holding Corp., Term Loan (1 mo. Term SOFR + 4.00%) | 8.28% | 04/05/2030 |  | 1164 | &nbsp;&nbsp; 1076707 |
| Riverbed Technology LLC, PIK Term Loan, 2.00% PIK Rate, 6.83% Cash Rate<sup>(i)</sup> <br>| 2.00% | 07/01/2028 |  | 1623 | &nbsp;&nbsp; 803468 |
| SonicWall U.S. Holdings, Inc., First Lien Term Loan (3 mo. Term SOFR + 5.00%) | 9.30% | 05/18/2028 |  | 1064 | &nbsp;&nbsp; 1046724 |
| Utimaco (SGT Ultimate BidCo GmbH) (Germany) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan B-1 (3 mo. USD LIBOR + 6.25%)<sup>(d)</sup> <br>| 7.79% | 05/31/2029 | EUR | 2932 | &nbsp;&nbsp; 3199141 |
| &nbsp;&nbsp;&nbsp; Term Loan B-2 (3 mo. Term SOFR + 6.25%)<sup>(d)</sup> <br>| 10.01% | 05/31/2029 |  | 1645 | &nbsp;&nbsp; 1597765 |
|  |  |  |  |  | &nbsp;&nbsp; 19608413 |
| **Financial Intermediaries–0.79%** | **Financial Intermediaries–0.79%** | **Financial Intermediaries–0.79%** | **Financial Intermediaries–0.79%** |  |  |
| Edelman Financial Center LLC (The), Second Lien Term Loan (1 mo. Term SOFR + 5.25%) | 9.58% | 10/06/2028 |  | 93 | &nbsp;&nbsp; 93060 |
| Eisner Advisory Group LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(f)</sup> <br>| 0.00% | 02/28/2031 |  | 576 | &nbsp;&nbsp; 575962 |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (1 mo. Term SOFR + 4.00%) | 8.33% | 02/28/2031 |  | 867 | &nbsp;&nbsp; 870746 |
| Tegra118 Wealth Solutions, Inc., Term Loan (3 mo. Term SOFR + 4.00%) | 8.32% | 02/18/2027 |  | 558 | &nbsp;&nbsp; 552552 |
|  |  |  |  |  | &nbsp;&nbsp; 2092320 |
| **Food Products–10.28%** | **Food Products–10.28%** | **Food Products–10.28%** | **Food Products–10.28%** |  |  |
| BrightPet (AMCP Pet Holdings, Inc.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan B (3 mo. USD LIBOR + 6.25%)<sup>(d)(e)</sup> <br>| 11.48% | 10/05/2026 |  | 4258 | &nbsp;&nbsp; 3990364 |
| &nbsp;&nbsp;&nbsp; Revolver Loan (3 mo. Term SOFR + 7.15%)<sup>(d)(e)</sup> <br>| 11.41% | 10/05/2026 |  | 1502 | &nbsp;&nbsp; 1407333 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. USD LIBOR + 6.40%)<sup>(d)(e)</sup> <br>| 11.43% | 10/05/2026 |  | 4142 | &nbsp;&nbsp; 3881308 |
| Florida Food Products LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 5.00%) | 9.56% | 10/18/2028 |  | 1098 | &nbsp;&nbsp; 783563 |
| &nbsp;&nbsp;&nbsp; Second Lien Term Loan (1 mo. USD LIBOR + 8.00%)<sup>(d)</sup> <br>| 12.56% | 10/18/2029 |  | 1028 | &nbsp;&nbsp; 539548 |
| Teasdale Foods, Inc., Term Loan (3 mo. Term SOFR + 6.40%)<sup>(d)(e)</sup> <br>| 10.68% | 12/18/2025 |  | 15917 | &nbsp;&nbsp; 15121153 |
| Western Smokehouse Partners |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 03/31/2030 |  | 47 | &nbsp;&nbsp; 46257 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 03/31/2030 |  | 56 | &nbsp;&nbsp; 54947 |
| &nbsp;&nbsp;&nbsp; Term Loan B (1 mo. Term SOFR + 5.75%)<sup>(d)(e)</sup> <br>| 10.07% | 03/31/2030 |  | 1321 | &nbsp;&nbsp; 1294622 |
|  |  |  |  |  | &nbsp;&nbsp; 27119095 |
| **Forest Products–0.44%** | **Forest Products–0.44%** | **Forest Products–0.44%** | **Forest Products–0.44%** |  |  |
| NewLife Forest Restoration LLC, Term Loan <sup>(d)(h)</sup> <br>| – | 04/10/2029 |  | 1166 | &nbsp;&nbsp; 1165963 |
| **Health Care–7.59%** | **Health Care–7.59%** | **Health Care–7.59%** | **Health Care–7.59%** |  |  |
| &nbsp;&nbsp;&nbsp; Acacium (Impala Bidco Ltd.) (United Kingdom), Incremental Term Loan B (1 mo. Term SOFR + <br> 5.25%)<br>| 9.11% | 06/08/2028 |  | 955 | &nbsp;&nbsp; 730738 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Health Care–(continued)** | **Health Care–(continued)** | **Health Care–(continued)** | **Health Care–(continued)** |  |  |
| Capitol Imaging Services LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 01/03/2030 |  | $94 | &nbsp;&nbsp; $93152 |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan (3 mo. Term SOFR + 5.00%)<sup>(d)(e)</sup> <br>| 9.26% | 01/03/2030 |  | 283 | &nbsp;&nbsp; 279454 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 01/03/2030 |  | 94 | &nbsp;&nbsp; 93152 |
| &nbsp;&nbsp;&nbsp; Revolver Loan (3 mo. Term SOFR + 5.00%)<sup>(d)(e)</sup> <br>| 9.26% | 01/03/2030 |  | 34 | &nbsp;&nbsp; 33873 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. Term SOFR + 5.00%)<sup>(d)(e)</sup> <br>| 9.28% | 12/31/2029 |  | 1990 | &nbsp;&nbsp; 1968186 |
| Cerba (Chrome Bidco) (United Kingdom) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan D (1 mo. EURIBOR + 5.45%) | 7.46% | 02/16/2029 | EUR | 3000 | &nbsp;&nbsp; 2687474 |
| &nbsp;&nbsp;&nbsp; Term Loan B (1 mo. EURIBOR + 3.70%) | 5.71% | 06/30/2028 | EUR | 4000 | &nbsp;&nbsp; 3543013 |
| Global Medical Response, Inc., Term Loan (1 mo. Term SOFR + 4.75%) | 9.08% | 10/31/2028 |  | 1576 | &nbsp;&nbsp; 1580346 |
| MedAssets Software Intermediate Holdings, Inc. (nThrive TSG) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (1 mo. Term SOFR + 5.25%) | 9.57% | 12/17/2028 |  | 97 | &nbsp;&nbsp; 96807 |
| &nbsp;&nbsp;&nbsp; Term Loan (1 mo. Term SOFR + 4.00%) | 8.32% | 12/17/2028 |  | 496 | &nbsp;&nbsp; 485422 |
| &nbsp;&nbsp;&nbsp; Term Loan (1 mo. Term SOFR + 4.11%) | 8.44% | 12/17/2028 |  | 437 | &nbsp;&nbsp; 395440 |
| Organon & Co., Term Loan (1 mo. Term SOFR + 2.25%) | 6.57% | 05/19/2031 |  | 308 | &nbsp;&nbsp; 301010 |
| SDB Holdco LLC (Specialty Dental Brands) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 03/18/2027 |  | 27 | &nbsp;&nbsp; 27960 |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan (1 mo. Term SOFR + 7.10%)<sup>(d)(e)</sup> <br>| 11.33% | 03/18/2027 |  | 722 | &nbsp;&nbsp; 756990 |
| &nbsp;&nbsp;&nbsp; Term Loan A (1 mo. Term SOFR + 7.10%)<sup>(d)(e)</sup> <br>| 11.43% | 03/29/2027 |  | 6361 | &nbsp;&nbsp; 6360735 |
| TTF Holdings LLC (Soliant), Term Loan B (6 mo. Term SOFR + 3.75%) | 8.00% | 07/18/2031 |  | 587 | &nbsp;&nbsp; 580066 |
|  |  |  |  |  | &nbsp;&nbsp; 20013818 |
| **Home Furnishings–2.28%** | **Home Furnishings–2.28%** | **Home Furnishings–2.28%** | **Home Furnishings–2.28%** |  |  |
| Hilding Anders AB (Sweden) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan (6 mo. EURIBOR + 10.00%) <br>(Acquired 04/27/2023-07/17/2023; Cost $427,733)<sup>(d)(g)</sup> <br>| 12.14% | 12/31/2026 | EUR | 387 | &nbsp;&nbsp; 439742 |
| &nbsp;&nbsp;&nbsp; Term Loan (6 mo. EURIBOR + 10.00%) <br>(Acquired 09/26/2023-10/30/2023; Cost $564,285)<sup>(d)(g)</sup> <br>| 12.14% | 12/31/2026 | EUR | 534 | &nbsp;&nbsp; 605981 |
| &nbsp;&nbsp;&nbsp; Term Loan<sup>(d)</sup> <br>| 12.00% | 02/26/2027 | EUR | 340 | &nbsp;&nbsp; 386139 |
| Hunter Douglas Holding B.V., Term Loan B (3 mo. Term SOFR + 3.25%) | 7.55% | 01/14/2032 |  | 1000 | &nbsp;&nbsp; 988750 |
| Kidde Global Solutions, Term Loan B (1 mo. Term SOFR + 4.25%) | 8.57% | 10/02/2031 |  | 562 | &nbsp;&nbsp; 554059 |
| Serta Simmons Bedding LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 7.60%)<sup>(d)</sup> <br>| 11.88% | 06/29/2028 |  | 120 | &nbsp;&nbsp; 120268 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 7.50%) | 11.91% | 06/29/2028 |  | 1693 | &nbsp;&nbsp; 1552318 |
| SIWF Holdings, Inc., Term Loan A-2 (1 mo. Term SOFR + 4.00%) | 8.44% | 12/19/2025 |  | 1624 | &nbsp;&nbsp; 1305666 |
| Weber-Stephen Products LLC, Incremental Term Loan B (1 mo. Term SOFR + 4.25%) | 8.68% | 10/30/2027 |  | 72 | &nbsp;&nbsp; 71368 |
|  |  |  |  |  | &nbsp;&nbsp; 6024291 |
| **Industrial Equipment–1.81%** | **Industrial Equipment–1.81%** | **Industrial Equipment–1.81%** | **Industrial Equipment–1.81%** |  |  |
| Discovery Energy Holding Co. (Kohler Energy), Term Loan B (3 mo. Term SOFR + 4.75%) | 8.05% | 05/01/2031 |  | 317 | &nbsp;&nbsp; 315669 |
| Kantar (Summer BC Bidco/KANGRP) (Luxembourg) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(f)</sup> <br>| 0.00% | 06/04/2026 |  | 2388 | &nbsp;&nbsp; 2262539 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(h)</sup> <br>| – | 06/04/2026 |  | 112 | &nbsp;&nbsp; 106211 |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. Term SOFR + 5.26%) | 9.56% | 02/15/2029 |  | 459 | &nbsp;&nbsp; 455639 |
| Tank Holding Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(f)</sup> <br>| 0.00% | 03/31/2028 |  | 176 | &nbsp;&nbsp; 162347 |
| &nbsp;&nbsp;&nbsp; Term Loan (1 mo. Term SOFR + 6.00%) | 10.18% | 03/31/2028 |  | 1302 | &nbsp;&nbsp; 1229385 |
| Victory Buyer LLC (Vantage Elevator), Second Lien Term Loan (1 mo. Term SOFR + 7.00%)<sup>(d)</sup> <br>| 11.44% | 11/19/2029 |  | 259 | &nbsp;&nbsp; 247467 |
|  |  |  |  |  | &nbsp;&nbsp; 4779257 |
| **Leisure Goods, Activities & Movies–2.75%** | **Leisure Goods, Activities & Movies–2.75%** | **Leisure Goods, Activities & Movies–2.75%** | **Leisure Goods, Activities & Movies–2.75%** |  |  |
| Crown Finance US, Inc., Term Loan B (1 mo. Term SOFR + 5.25%) | 9.58% | 12/02/2031 |  | 2616 | &nbsp;&nbsp; 2623139 |
| Fitness International LLC, Term Loan B (1 mo. Term SOFR + 5.25%) | 9.58% | 02/05/2029 |  | 500 | &nbsp;&nbsp; 502110 |
| Parques Reunidos (Piolin Bidco S.A.U.) (Luxembourg), Revolver Loan<sup>(d)(f)</sup> <br>| 0.00% | 03/16/2026 | EUR | 1529 | &nbsp;&nbsp; 1614585 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Leisure Goods, Activities & Movies–(continued)** | **Leisure Goods, Activities & Movies–(continued)** | **Leisure Goods, Activities & Movies–(continued)** | **Leisure Goods, Activities & Movies–(continued)** |  |  |
| Vue International Bidco PLC (United Kingdom) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Second Lien Term Loan (6 mo. EURIBOR + 8.50%) <br>(Acquired 02/20/2024-04/08/2025; Cost $605,446)<sup>(d)(g)</sup> <br>| 10.76% | 12/31/2027 | EUR | 811 | &nbsp;&nbsp; $1288355 |
| &nbsp;&nbsp;&nbsp; Term Loan (6 mo. EURIBOR + 8.50%) <br>(Acquired 02/20/2024-04/08/2025; Cost $530,851)<sup>(d)(g)</sup> <br>| 10.76% | 12/31/2027 | EUR | 501 | &nbsp;&nbsp; 795801 |
| &nbsp;&nbsp;&nbsp; Term Loan (6 mo. EURIBOR + 8.00%) <br>(Acquired 02/21/2024-04/08/2025; Cost $243,145)<sup>(d)(g)</sup> <br>| 10.26% | 06/30/2027 | EUR | 231 | &nbsp;&nbsp; 420370 |
|  |  |  |  |  | &nbsp;&nbsp; 7244360 |
| **Lodging & Casinos–0.99%** | **Lodging & Casinos–0.99%** | **Lodging & Casinos–0.99%** | **Lodging & Casinos–0.99%** |  |  |
| Fertitta Entertainment LLC (Golden Nugget), Term Loan (1 mo. Term SOFR + 3.75%) | 7.83% | 01/27/2029 |  | $975 | &nbsp;&nbsp; 970566 |
| Voyager Parent, LLC, Term Loan B<sup>(h)</sup> <br>| – | 05/10/2032 |  | 1672 | &nbsp;&nbsp; 1644784 |
|  |  |  |  |  | &nbsp;&nbsp; 2615350 |
| **Nonferrous Metals & Minerals–0.18%** | **Nonferrous Metals & Minerals–0.18%** | **Nonferrous Metals & Minerals–0.18%** | **Nonferrous Metals & Minerals–0.18%** |  |  |
| Form Technologies LLC, Term Loan (1 mo. Term SOFR + 5.75%) | 10.02% | 05/30/2030 |  | 490 | &nbsp;&nbsp; 466863 |
| **Oil & Gas–1.36%** | **Oil & Gas–1.36%** | **Oil & Gas–1.36%** | **Oil & Gas–1.36%** |  |  |
| McDermott International Ltd. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; LOC<sup>(f)</sup> <br>| 0.00% | 06/30/2027 |  | 2601 | &nbsp;&nbsp; 2119652 |
| &nbsp;&nbsp;&nbsp; LOC (3 mo. USD LIBOR + 4.00%) | 8.56% | 06/30/2027 |  | 1306 | &nbsp;&nbsp; 829099 |
| &nbsp;&nbsp;&nbsp; PIK Term Loan, 3.00% PIK Rate, 5.44% Cash Rate<sup>(i)</sup> <br>| 3.00% | 12/31/2027 |  | 1193 | &nbsp;&nbsp; 526303 |
| &nbsp;&nbsp;&nbsp; Term Loan (1 mo. Term SOFR + 3.00%) | 7.44% | 06/30/2027 |  | 180 | &nbsp;&nbsp; 99087 |
|  |  |  |  |  | &nbsp;&nbsp; 3574141 |
| **Publishing–0.79%** | **Publishing–0.79%** | **Publishing–0.79%** | **Publishing–0.79%** |  |  |
| &nbsp;&nbsp;&nbsp; Harbor Purchaser, Inc. (Houghton Mifflin Harcourt), First Lien Term Loan B (1 mo. Term SOFR <br> + 5.25%)<br>| 9.63% | 04/09/2029 |  | 2094 | &nbsp;&nbsp; 2086403 |
| **Radio & Television–0.15%** | **Radio & Television–0.15%** | **Radio & Television–0.15%** | **Radio & Television–0.15%** |  |  |
| iHeartCommunications, Inc., Term Loan (1 mo. Term SOFR + 5.89%) | 10.21% | 05/01/2029 |  | 480 | &nbsp;&nbsp; 395659 |
| Nexstar Broadcasting, Inc., Term Loan B-4 (1 mo. Term SOFR + 2.50%) | 6.94% | 09/18/2026 |  | 1 | &nbsp;&nbsp; 277 |
|  |  |  |  |  | &nbsp;&nbsp; 395936 |
| **Rail Industries–0.96%** | **Rail Industries–0.96%** | **Rail Industries–0.96%** | **Rail Industries–0.96%** |  |  |
| VRS Buyer, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 11/22/2030 |  | 713 | &nbsp;&nbsp; 713492 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 11/22/2030 |  | 357 | &nbsp;&nbsp; 356746 |
| &nbsp;&nbsp;&nbsp; Term Loan (3 mo. Term SOFR + 4.75%)<sup>(d)(e)</sup> <br>| 9.08% | 11/22/2030 |  | 1468 | &nbsp;&nbsp; 1467756 |
|  |  |  |  |  | &nbsp;&nbsp; 2537994 |
| **Retailers (except Food & Drug)–0.46%** | **Retailers (except Food & Drug)–0.46%** | **Retailers (except Food & Drug)–0.46%** | **Retailers (except Food & Drug)–0.46%** |  |  |
| Bass Pro Group LLC, Term Loan B (1 mo. Term SOFR + 3.25%) | 7.58% | 01/31/2032 |  | 1200 | &nbsp;&nbsp; 1192650 |
| Harbor Freight Tools USA, Inc., Term Loan B (1 mo. Term SOFR + 2.50%) | 6.58% | 06/11/2031 |  | 29 | &nbsp;&nbsp; 27709 |
|  |  |  |  |  | &nbsp;&nbsp; 1220359 |
| **Surface Transport–0.65%** | **Surface Transport–0.65%** | **Surface Transport–0.65%** | **Surface Transport–0.65%** |  |  |
| Source Holding Delaware, LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 02/07/2031 |  | 389 | &nbsp;&nbsp; 383899 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(e)(f)</sup> <br>| 0.00% | 02/07/2031 |  | 175 | &nbsp;&nbsp; 172755 |
| &nbsp;&nbsp;&nbsp; Revolver Loan (3 mo. Term SOFR + 4.50%)<sup>(d)(e)</sup> <br>| 8.81% | 02/07/2031 |  | 19 | &nbsp;&nbsp; 19195 |
| &nbsp;&nbsp;&nbsp; Term Loan A (3 mo. Term SOFR + 4.50%)<sup>(d)(e)</sup> <br>| 8.83% | 02/07/2031 |  | 902 | &nbsp;&nbsp; 890646 |
| STG Distribution LLC, PIK Term Loan, 7.25% PIK Rate, 5.43% Cash Rate<sup>(d)(i)</sup> <br>| 7.25% | 10/03/2029 |  | 277 | &nbsp;&nbsp; 236926 |
|  |  |  |  |  | &nbsp;&nbsp; 1703421 |
| **Telecommunications–2.63%** | **Telecommunications–2.63%** | **Telecommunications–2.63%** | **Telecommunications–2.63%** |  |  |
| Inmarsat Finance PLC (United Kingdom), Term Loan (1 mo. Term SOFR + 4.50%) | 8.83% | 09/27/2029 |  | 1359 | &nbsp;&nbsp; 1247777 |
| Level 3 Financing, Inc., Term Loan B (1 mo. Term SOFR + 4.25%) | 8.58% | 03/30/2032 |  | 500 | &nbsp;&nbsp; 503855 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Telecommunications–(continued)** | **Telecommunications–(continued)** | **Telecommunications–(continued)** | **Telecommunications–(continued)** |  |  |
| MLN US HoldCo LLC (dba Mitel) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; DIP Term Loan (1 mo. Term SOFR + 8.00%)<sup>(d)(j)</sup> <br>| 12.33% | 07/03/2025 |  | $1486 | &nbsp;&nbsp; $1270760 |
| &nbsp;&nbsp;&nbsp; DIP Term Loan (1 mo. Term SOFR + 8.00%)<sup>(d)(j)</sup> <br>| 12.33% | 07/31/2025 |  | 1250 | &nbsp;&nbsp; 900356 |
| &nbsp;&nbsp;&nbsp; Revolver Loan<sup>(d)(j)(k)</sup> <br>| 0.00% | 11/18/2025 |  | 636 | &nbsp;&nbsp; 203576 |
| &nbsp;&nbsp;&nbsp; Second Lien Term Loan B-1<sup>(d)(j)(k)</sup> <br>| 0.00% | 10/18/2027 |  | 3739 | &nbsp;&nbsp; 18882 |
| &nbsp;&nbsp;&nbsp; Term Loan<sup>(d)(j)(k)</sup> <br>| 0.00% | 10/18/2027 |  | 424 | &nbsp;&nbsp; 135548 |
| &nbsp;&nbsp;&nbsp; Third Lien Term Loan<sup>(d)(j)(k)</sup> <br>| 0.00% | 10/18/2027 |  | 1874 | &nbsp;&nbsp; 9466 |
| U.S. TelePacific Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan (3 mo. Term SOFR + 1.15%) | 5.47% | 05/02/2026 |  | 17 | &nbsp;&nbsp; 6785 |
| &nbsp;&nbsp;&nbsp; Third Lien Term Loan<sup>(d)</sup> <br>| 0.00% | 05/02/2027 |  | 100 | &nbsp;&nbsp; 0 |
| ViaSat, Inc., Term Loan B (1 mo. Term SOFR + 4.50%) | 8.94% | 05/30/2030 |  | 966 | &nbsp;&nbsp; 906522 |
| Zayo Group Holdings, Inc., Incremental Term Loan (1 mo. Term SOFR + 4.25%) | 8.58% | 03/09/2027 |  | 1810 | &nbsp;&nbsp; 1740047 |
|  |  |  |  |  | &nbsp;&nbsp; 6943574 |
| **Utilities–1.06%** | **Utilities–1.06%** | **Utilities–1.06%** | **Utilities–1.06%** |  |  |
| Eastern Power LLC, Term Loan (1 mo. Term SOFR + 5.25%) | 9.58% | 04/03/2028 |  | 680 | &nbsp;&nbsp; 679081 |
| KAMC Holdings, Inc. (Franklin Energy Group) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; First Lien Term Loan B (3 mo. Term SOFR + 4.00%) <br>(Acquired 02/29/2024-05/06/2025; Cost $476,100)<sup>(g)</sup> <br>| 8.59% | 08/14/2026 |  | 488 | &nbsp;&nbsp; 468686 |
| &nbsp;&nbsp;&nbsp; Incremental Term Loan (3 mo. Term SOFR + 4.26%)<sup>(d)</sup> <br>| 8.59% | 08/14/2026 |  | 228 | &nbsp;&nbsp; 219050 |
| Lightstone Holdco LLC |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Term Loan B (3 mo. Term SOFR + 5.75%) | 10.03% | 01/29/2027 |  | 1352 | &nbsp;&nbsp; 1356264 |
| &nbsp;&nbsp;&nbsp; Term Loan C (3 mo. Term SOFR + 5.75%) | 10.03% | 01/29/2027 |  | 77 | &nbsp;&nbsp; 76705 |
|  |  |  |  |  | &nbsp;&nbsp; 2799786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests (Cost $260,879,882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests (Cost $260,879,882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests (Cost $260,879,882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Variable Rate Senior Loan Interests (Cost $260,879,882) |  | &nbsp;&nbsp; 242420161 |
|  |  |  | **Shares** | **Shares** |  |
| **Common Stocks & Other Equity Interests–14.41%**<sup>(l)</sup>  | **Common Stocks & Other Equity Interests–14.41%**<sup>(l)</sup>  | **Common Stocks & Other Equity Interests–14.41%**<sup>(l)</sup>  | **Common Stocks & Other Equity Interests–14.41%**<sup>(l)</sup>  | **Common Stocks & Other Equity Interests–14.41%**<sup>(l)</sup>  | **Common Stocks & Other Equity Interests–14.41%**<sup>(l)</sup>  |
| **Aerospace & Defense–0.37%** | **Aerospace & Defense–0.37%** | **Aerospace & Defense–0.37%** | **Aerospace & Defense–0.37%** |  |  |
| IAP Worldwide Services, Inc. (Acquired 07/18/2014-08/18/2014; Cost $239,759)<sup>(d)(e)(g)</sup> <br>|  |  |  | 220 | &nbsp;&nbsp; 0 |
| IAP Worldwide Services, Inc.<sup>(d)(e)</sup> <br>|  |  |  | 1382229 | &nbsp;&nbsp; 746403 |
| IAP Worldwide Services, Inc., Class A<sup>(d)(e)</sup> <br>|  |  |  | 221331 | &nbsp;&nbsp; 221331 |
|  |  |  |  |  | &nbsp;&nbsp; 967734 |
| **Automotive–0.03%** | **Automotive–0.03%** | **Automotive–0.03%** | **Automotive–0.03%** |  |  |
| Cabonline, Class D (Sweden)<sup>(d)</sup> <br>|  |  |  | 63547434 | &nbsp;&nbsp; 89485 |
| Cabonline, Class D1 (Sweden)<sup>(d)</sup> <br>|  |  |  | 2236496 | &nbsp;&nbsp; 234 |
| Cabonline, Class D2 (Sweden)<sup>(d)</sup> <br>|  |  |  | 1908761 | &nbsp;&nbsp; 101 |
| Muth Mirror Systems LLC<sup>(d)(e)</sup> <br>|  |  |  | 29146 | &nbsp;&nbsp; 0 |
| Muth Mirror Systems LLC, Wts.<sup>(d)(e)</sup> <br>|  |  |  | 195471 | &nbsp;&nbsp; 0 |
|  |  |  |  |  | &nbsp;&nbsp; 89820 |
| **Building & Development–0.00%** | **Building & Development–0.00%** | **Building & Development–0.00%** | **Building & Development–0.00%** |  |  |
| &nbsp;&nbsp;&nbsp; Lake at Las Vegas Joint Venture LLC, Class A (Acquired 07/15/2010; <br> Cost $24,140,508)<sup>(d)(g)</sup> <br>|  |  |  | 2338 | &nbsp;&nbsp; 0 |
| Lake at Las Vegas Joint Venture LLC, Class B (Acquired 07/15/2010; Cost $285,788)<sup>(d)(g)</sup> <br>|  |  |  | 28 | &nbsp;&nbsp; 0 |
|  |  |  |  |  | &nbsp;&nbsp; 0 |
| **Business Equipment & Services–7.05%** | **Business Equipment & Services–7.05%** | **Business Equipment & Services–7.05%** | **Business Equipment & Services–7.05%** |  |  |
| Monitronics International, Inc. (Acquired 06/30/2023; Cost $2,346,937)<sup>(d)(g)</sup> <br>|  |  |  | 116589 | &nbsp;&nbsp; 4043307 |
| My Alarm Center LLC, Class A (Acquired 03/09/2021-05/17/2024; Cost $4,158,157)<sup>(d)(g)</sup> <br>|  |  |  | 47743 | &nbsp;&nbsp; 14559196 |
|  |  |  |  |  | &nbsp;&nbsp; 18602503 |
| **Chemicals & Plastics–0.00%** | **Chemicals & Plastics–0.00%** | **Chemicals & Plastics–0.00%** | **Chemicals & Plastics–0.00%** |  |  |
| Flint Group (ColourOz Inv), Class A (Germany)<sup>(d)</sup> <br>|  |  |  | 18948 | &nbsp;&nbsp; 0 |
| **Containers & Glass Products–0.07%** | **Containers & Glass Products–0.07%** | **Containers & Glass Products–0.07%** | **Containers & Glass Products–0.07%** |  |  |
| Libbey Glass LLC (Acquired 11/13/2020-02/10/2022; Cost $56,094)<sup>(d)(g)</sup> <br>|  |  |  | 13797 | &nbsp;&nbsp; 185570 |
| **Electronics & Electrical–0.00%** | **Electronics & Electrical–0.00%** | **Electronics & Electrical–0.00%** | **Electronics & Electrical–0.00%** |  |  |
| Mavenir Systems, Inc., Wts.<sup>(d)</sup> <br>|  |  |  | 230354 | &nbsp;&nbsp; 0 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  | **Shares** | **Shares** | **Value** |
| **Electronics & Electrical–(continued)** | **Electronics & Electrical–(continued)** | **Electronics & Electrical–(continued)** | **Electronics & Electrical–(continued)** |  |  |
| Riverbed Technology LLC, Class B (Acquired 07/03/2023; Cost $5,458)<sup>(d)(g)</sup> <br>|  |  |  | 41988 | &nbsp;&nbsp; $5459 |
| Sandvine Corp. (Acquired 06/28/2024; Cost $0)<sup>(d)(g)</sup> <br>|  |  |  | 5849 | &nbsp;&nbsp; 0 |
|  |  |  |  |  | &nbsp;&nbsp; 5459 |
| **Financial Intermediaries–2.06%** | **Financial Intermediaries–2.06%** | **Financial Intermediaries–2.06%** | **Financial Intermediaries–2.06%** |  |  |
| RJO Holdings Corp.<sup>(d)</sup> <br>|  |  |  | 5394 | &nbsp;&nbsp; 4029670 |
| RJO Holdings Corp., Class A<sup>(d)</sup> <br>|  |  |  | 1142 | &nbsp;&nbsp; 720413 |
| RJO Holdings Corp., Class B<sup>(d)</sup> <br>|  |  |  | 3333 | &nbsp;&nbsp; 694733 |
|  |  |  |  |  | &nbsp;&nbsp; 5444816 |
| **Forest Products–1.35%** | **Forest Products–1.35%** | **Forest Products–1.35%** | **Forest Products–1.35%** |  |  |
| &nbsp;&nbsp;&nbsp; Restoration Forest Products Group LLC (Acquired 02/22/2022-04/17/2025; <br> Cost $6,861,929)<sup>(d)(g)</sup> <br>|  |  |  | 39150 | &nbsp;&nbsp; 3555237 |
| **Health Care–0.00%** | **Health Care–0.00%** | **Health Care–0.00%** | **Health Care–0.00%** |  |  |
| SDB Holdco LLC (Specialty Dental Brands)<sup>(d)(e)</sup> <br>|  |  |  | 5863446 | &nbsp;&nbsp; 0 |
| **Home Furnishings–0.25%** | **Home Furnishings–0.25%** | **Home Furnishings–0.25%** | **Home Furnishings–0.25%** |  |  |
| Serta Simmons Bedding LLC |  |  |  | 61610 | &nbsp;&nbsp; 646905 |
| **Industrial Equipment–0.03%** | **Industrial Equipment–0.03%** | **Industrial Equipment–0.03%** | **Industrial Equipment–0.03%** |  |  |
| North American Lifting Holdings, Inc. |  |  |  | 62889 | &nbsp;&nbsp; 72700 |
| **Leisure Goods, Activities & Movies–1.32%** | **Leisure Goods, Activities & Movies–1.32%** | **Leisure Goods, Activities & Movies–1.32%** | **Leisure Goods, Activities & Movies–1.32%** |  |  |
| Crown Finance US, Inc. |  |  |  | 149097 | &nbsp;&nbsp; 3466506 |
| Crown Finance US, Inc. |  |  |  | 772 | &nbsp;&nbsp; 17949 |
| USF S&H Holdco LLC<sup>(d)(e)</sup> <br>|  |  |  | 11114 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Vue International Bidco PLC, Class A1 (Acquired 02/20/2024; Cost $0) (United <br> Kingdom)<sup>(d)(g)</sup> <br>|  |  |  | 2084 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Vue International Bidco PLC, Class A2 (Acquired 02/20/2024; Cost $0) (United <br> Kingdom)<sup>(d)(g)</sup> <br>|  |  |  | 1026420 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp; Vue International Bidco PLC, Class A3 (Acquired 02/20/2024; Cost $0) (United <br> Kingdom)<sup>(d)(g)</sup> <br>|  |  |  | 638918 | &nbsp;&nbsp; 1 |
| Vue International Bidco PLC, Class A4 (United Kingdom)<sup>(d)</sup> <br>|  |  |  | 445416 | &nbsp;&nbsp; 1 |
|  |  |  |  |  | &nbsp;&nbsp; 3484458 |
| **Oil & Gas–1.27%** | **Oil & Gas–1.27%** | **Oil & Gas–1.27%** | **Oil & Gas–1.27%** |  |  |
| McDermott International Ltd.<sup>(m)</sup> <br>|  |  |  | 106979 | &nbsp;&nbsp; 1551196 |
| Samson Investment Co., Class A (Acquired 03/01/2017; Cost $2,932,743)<sup>(d)(g)</sup> <br>|  |  |  | 163748 | &nbsp;&nbsp; 1637 |
| Talos Energy, Inc.<sup>(m)</sup> <br>|  |  |  | 149121 | &nbsp;&nbsp; 1198933 |
| Tribune Resources LLC |  |  |  | 376237 | &nbsp;&nbsp; 606682 |
|  |  |  |  |  | &nbsp;&nbsp; 3358448 |
| **Radio & Television–0.00%** | **Radio & Television–0.00%** | **Radio & Television–0.00%** | **Radio & Television–0.00%** |  |  |
| iHeartMedia, Inc., Class B<sup>(d)(m)</sup> <br>|  |  |  | 42 | &nbsp;&nbsp; 37 |
| **Retailers (except Food & Drug)–0.00%** | **Retailers (except Food & Drug)–0.00%** | **Retailers (except Food & Drug)–0.00%** | **Retailers (except Food & Drug)–0.00%** |  |  |
| Claire's Stores, Inc. |  |  |  | 420 | &nbsp;&nbsp; 63 |
| **Surface Transport–0.61%** | **Surface Transport–0.61%** | **Surface Transport–0.61%** | **Surface Transport–0.61%** |  |  |
| Commercial Barge Line Co. (Acquired 02/15/2018-02/06/2020; Cost $743,133)<sup>(d)(g)</sup> <br>|  |  |  | 8956 | &nbsp;&nbsp; 729197 |
| &nbsp;&nbsp;&nbsp; Commercial Barge Line Co., Series B, Wts., expiring 04/30/2045 (Acquired <br> 08/18/2023-05/20/2025; Cost $101,650)<sup>(d)(g)</sup> <br>|  |  |  | 177216 | &nbsp;&nbsp; 110760 |
| &nbsp;&nbsp;&nbsp; Commercial Barge Line Co., Wts., expiring 04/27/2045 (Acquired <br> 02/15/2018-02/06/2020; Cost $781,183)<sup>(d)(g)</sup> <br>|  |  |  | 9414 | &nbsp;&nbsp; 766488 |
|  |  |  |  |  | &nbsp;&nbsp; 1606445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests (Cost $56,935,389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests (Cost $56,935,389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests (Cost $56,935,389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests (Cost $56,935,389) |  | &nbsp;&nbsp; 38020195 |
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> |  |
| **Non-U.S. Dollar Denominated Bonds & Notes–11.45%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–11.45%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–11.45%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–11.45%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–11.45%**<sup>(n)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes–11.45%**<sup>(n)</sup>  |
| **Automotive–0.35%** | **Automotive–0.35%** | **Automotive–0.35%** | **Automotive–0.35%** |  |  |
| Cabonline Group Holding AB (Sweden) (Acquired 10/13/2023; Cost $166,211)<sup>(g)(o)</sup> <br>| 10.00% | 03/19/2028 | SEK | 1909 | &nbsp;&nbsp; 191634 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Automotive–(continued)** | **Automotive–(continued)** | **Automotive–(continued)** | **Automotive–(continued)** |  |  |
| Cabonline Group Holding AB (Sweden) (Acquired 10/12/2023; Cost $347,109)<sup>(g)(o)</sup> <br>| 12.00% | 03/19/2028 | SEK | 3817 | &nbsp;&nbsp; $383267 |
| Cabonline Group Holding AB (Sweden) (Acquired 03/24/2022; Cost $784,118)<sup>(g)(k)(o)</sup> <br>| 0.00% | 04/19/2029 | SEK | 7380 | &nbsp;&nbsp; 346429 |
|  |  |  |  |  | &nbsp;&nbsp; 921330 |
| **Electronics & Electrical–0.83%** | **Electronics & Electrical–0.83%** | **Electronics & Electrical–0.83%** | **Electronics & Electrical–0.83%** |  |  |
| Castor S.p.A. (Italy) (3 mo. EURIBOR + 5.25%)<sup>(o)(p)</sup> <br>| 7.75% | 02/15/2029 | EUR | 2000 | &nbsp;&nbsp; 2204476 |
| **Financial Intermediaries–5.94%** | **Financial Intermediaries–5.94%** | **Financial Intermediaries–5.94%** | **Financial Intermediaries–5.94%** |  |  |
| &nbsp;&nbsp;&nbsp; AnaCap (AFE S.A. SICAV-RAIF) (Italy) (3 mo. EURIBOR + 7.50%) (Acquired <br> 01/31/2018-11/24/2021; Cost $10,598,274)<sup>(g)(o)(p)</sup> <br>| 9.68% | 07/15/2030 | EUR | 8976 | &nbsp;&nbsp; 5337956 |
| &nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 S.A. (Luxembourg) (3 mo. EURIBOR + 6.25%) (Acquired <br> 10/23/2020-11/26/2020; Cost $3,891,960)<sup>(g)(o)(p)</sup> <br>| 8.43% | 05/01/2026 | EUR | 3278 | &nbsp;&nbsp; 2629700 |
| &nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 S.A. (Luxembourg) (3 mo. EURIBOR + 6.25%) (Acquired 10/10/2023; <br> Cost $979,506)<sup>(g)(o)(p)</sup> <br>| 8.43% | 05/01/2026 | EUR | 1000 | &nbsp;&nbsp; 802227 |
| &nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 S.A. (Luxembourg) (Acquired 05/15/2023-10/17/2023; <br> Cost $4,434,180)<sup>(g)(o)</sup> <br>| 6.75% | 11/01/2025 | EUR | 4345 | &nbsp;&nbsp; 3479681 |
| Sherwood Financing PLC (United Kingdom) (3 mo. EURIBOR + 5.50%)<sup>(o)(p)</sup> <br>| 8.00% | 12/15/2029 | EUR | 3000 | &nbsp;&nbsp; 3411034 |
|  |  |  |  |  | &nbsp;&nbsp; 15660598 |
| **Food Service–0.62%** | **Food Service–0.62%** | **Food Service–0.62%** | **Food Service–0.62%** |  |  |
| Selecta Group B.V. 10.00% PIK Rate, 9.25% Cash Rate (Switzerland)<sup>(d)(i)(o)</sup> <br>| 10.00% | 07/01/2026 | EUR | 1618 | &nbsp;&nbsp; 1634816 |
| **Home Furnishings–3.71%** | **Home Furnishings–3.71%** | **Home Furnishings–3.71%** | **Home Furnishings–3.71%** |  |  |
| Very Group Funding PLC (The) (United Kingdom)<sup>(o)</sup> <br>| 6.50% | 08/01/2026 | GBP | 5493 | &nbsp;&nbsp; 7418151 |
| Very Group Funding PLC (The) (United Kingdom)<sup>(o)</sup> <br>| 6.50% | 08/01/2026 | GBP | 1750 | &nbsp;&nbsp; 2363329 |
|  |  |  |  |  | &nbsp;&nbsp; 9781480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $36,969,384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $36,969,384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $36,969,384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $36,969,384) |  | &nbsp;&nbsp; 30202700 |
|  |  |  | **Shares** | **Shares** |  |
| **Preferred Stocks–2.54%**<sup>(l)</sup>  | **Preferred Stocks–2.54%**<sup>(l)</sup>  | **Preferred Stocks–2.54%**<sup>(l)</sup>  | **Preferred Stocks–2.54%**<sup>(l)</sup>  | **Preferred Stocks–2.54%**<sup>(l)</sup>  | **Preferred Stocks–2.54%**<sup>(l)</sup>  |
| **Financial Intermediaries–0.10%** | **Financial Intermediaries–0.10%** | **Financial Intermediaries–0.10%** | **Financial Intermediaries–0.10%** |  |  |
| RJO Holdings Corp., Pfd.<sup>(d)</sup> <br>|  |  |  | 154 | &nbsp;&nbsp; 266215 |
| **Health Care–0.03%** | **Health Care–0.03%** | **Health Care–0.03%** | **Health Care–0.03%** |  |  |
| SDB Holdco LLC (Specialty Dental Brands), Pfd.<sup>(d)(e)</sup> <br>|  |  |  | 2844928 | &nbsp;&nbsp; 78235 |
| **Oil & Gas–0.00%** | **Oil & Gas–0.00%** | **Oil & Gas–0.00%** | **Oil & Gas–0.00%** |  |  |
| Southcross Energy Partners L.P., Pfd.<sup>(d)</sup> <br>|  |  |  | 288393 | &nbsp;&nbsp; 1702 |
| **Retailers (except Food & Drug)–0.17%** | **Retailers (except Food & Drug)–0.17%** | **Retailers (except Food & Drug)–0.17%** | **Retailers (except Food & Drug)–0.17%** |  |  |
| Vivarte S.A.S.U., Pfd. (France)<sup>(d)</sup> <br>|  |  |  | 1220502 | &nbsp;&nbsp; 461478 |
| **Surface Transport–2.24%** | **Surface Transport–2.24%** | **Surface Transport–2.24%** | **Surface Transport–2.24%** |  |  |
| Commercial Barge Line Co., Series B, Pfd.<sup>(d)</sup> <br>|  |  |  | 42058 | &nbsp;&nbsp; 3468523 |
| &nbsp;&nbsp;&nbsp; Commercial Barge Line Co., Series B, Pfd.,Wts., expiring 04/27/2045 (Acquired <br> 02/05/2020-10/27/2020; Cost $687,140)<sup>(d)(g)</sup> <br>|  |  |  | 29536 | &nbsp;&nbsp; 2435834 |
|  |  |  |  |  | &nbsp;&nbsp; 5904357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks (Cost $9,776,960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks (Cost $9,776,960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks (Cost $9,776,960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks (Cost $9,776,960) |  | &nbsp;&nbsp; 6711987 |
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> |  |
| **U.S. Dollar Denominated Bonds & Notes–1.36%** | **U.S. Dollar Denominated Bonds & Notes–1.36%** | **U.S. Dollar Denominated Bonds & Notes–1.36%** | **U.S. Dollar Denominated Bonds & Notes–1.36%** | **U.S. Dollar Denominated Bonds & Notes–1.36%** | **U.S. Dollar Denominated Bonds & Notes–1.36%** |
| **Aerospace & Defense–0.33%** | **Aerospace & Defense–0.33%** | **Aerospace & Defense–0.33%** | **Aerospace & Defense–0.33%** |  |  |
| Rand Parent LLC <sup>(o)</sup> <br>| 8.50% | 02/15/2030 |  | $890 | &nbsp;&nbsp; 877758 |
| **Building & Development–0.09%** | **Building & Development–0.09%** | **Building & Development–0.09%** | **Building & Development–0.09%** |  |  |
| Signal Parent, Inc. <sup>(o)</sup> <br>| 6.13% | 04/01/2029 |  | 564 | &nbsp;&nbsp; 231240 |
| **Business Equipment & Services–0.34%** | **Business Equipment & Services–0.34%** | **Business Equipment & Services–0.34%** | **Business Equipment & Services–0.34%** |  |  |
| Acuris Finance US, Inc./Acuris Finance S.a.r.l. <sup>(o)</sup> <br>| 9.00% | 08/01/2029 |  | 875 | &nbsp;&nbsp; 894906 |
| **Food Products–0.52%** | **Food Products–0.52%** | **Food Products–0.52%** | **Food Products–0.52%** |  |  |
| Teasdale Foods, Inc., 16.25% PIK Rate <sup>(d)(e)(i)</sup> <br>| 16.25% | 06/18/2026 |  | 3157 | &nbsp;&nbsp; 656622 |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest**<br> **Rate**<br>| **Maturity**<br> **Date**<br>| &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | &nbsp;&nbsp; **Principal**<br> **Amount**<br> **(000)**<sup>(a)</sup> | **Value** |
| **Food Products–(continued)** | **Food Products–(continued)** | **Food Products–(continued)** | **Food Products–(continued)** |  |  |
| Viking Baked Goods Acquisition Corp.<sup>(o)</sup> <br>| 8.63% | 11/01/2031 |  | $762 | &nbsp;&nbsp; $720319 |
|  |  |  |  |  | &nbsp;&nbsp; 1376941 |
| **Health Care–0.08%** | **Health Care–0.08%** | **Health Care–0.08%** | **Health Care–0.08%** |  |  |
| Organon & Co./Organon Foreign Debt Co-Issuer B.V. <sup>(o)</sup> <br>| 6.75% | 05/15/2034 |  | 230 | &nbsp;&nbsp; 214260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $6,172,154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $6,172,154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $6,172,154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes (Cost $6,172,154) |  | &nbsp;&nbsp; 3595105 |
| **Asset-Backed Securities–1.00%** | **Asset-Backed Securities–1.00%** | **Asset-Backed Securities–1.00%** | **Asset-Backed Securities–1.00%** | **Asset-Backed Securities–1.00%** | **Asset-Backed Securities–1.00%** |
| **Structured Products–1.00%** | **Structured Products–1.00%** | **Structured Products–1.00%** | **Structured Products–1.00%** |  |  |
| Empower CLO Ltd., Series 2023-2A, Class E (Cayman Islands) (3 mo. Term SOFR + 8.25%) <br> <sup>(o)(p)</sup> <br>| 12.51% | 07/15/2036 |  | 2000 | &nbsp;&nbsp; 2027732 |
| &nbsp;&nbsp;&nbsp; Rad CLO 19 Ltd., Series 2023-19A, Class D2R (Cayman Islands) (3 mo. Term SOFR + <br> 5.00%)<sup>(o)(p)</sup> <br>| 9.30% | 03/20/2038 |  | 600 | &nbsp;&nbsp; 601753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $2,600,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $2,600,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $2,600,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Asset-Backed Securities (Cost $2,600,000) |  | &nbsp;&nbsp; 2629485 |
| TOTAL INVESTMENTS IN SECURITIES–122.65% (Cost $373,333,769) | TOTAL INVESTMENTS IN SECURITIES–122.65% (Cost $373,333,769) | TOTAL INVESTMENTS IN SECURITIES–122.65% (Cost $373,333,769) | TOTAL INVESTMENTS IN SECURITIES–122.65% (Cost $373,333,769) |  | &nbsp;&nbsp; 323579633 |
| BORROWINGS–(20.56)% | BORROWINGS–(20.56)% | BORROWINGS–(20.56)% | BORROWINGS–(20.56)% |  | &nbsp;&nbsp; (54250000)<br>|
| OTHER ASSETS LESS LIABILITIES–(2.09)% | OTHER ASSETS LESS LIABILITIES–(2.09)% | OTHER ASSETS LESS LIABILITIES–(2.09)% | OTHER ASSETS LESS LIABILITIES–(2.09)% |  | &nbsp;&nbsp; (5515167)<br>|
| NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% | NET ASSETS–100.00% |  | &nbsp;&nbsp; $263814466 |

---

Investment Abbreviations:

---

| | |
|:---|:---|
| DIP | – Debtor-in-Possession |
| EUR | – Euro |
| EURIBOR | – Euro Interbank Offered Rate |
| GBP | – British Pound Sterling |
| LIBOR | – London Interbank Offered Rate |
| LOC | – Letter of Credit |
| Pfd. | – Preferred |
| PIK | – Pay-in-Kind |
| SEK | – Swedish Krona |
| SOFR | – Secured Overnight Financing Rate |
| USD | – U.S. Dollar |
| Wts. | – Warrants |

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

Notes to Consolidated Schedule of Investments:

<sup>(a)</sup> Principal amounts are denominated in U.S. dollars unless otherwise noted.

<sup>(b)</sup> Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years. 

<sup>(c)</sup> Variable rate senior loan interests are, at present, not readily marketable, not registered under the Securities Act of 1933, as amended (the "1933 Act") and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund's portfolio generally have variable rates which adjust to a base, such as the Secured Overnight Financing Rate ("SOFR"), on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank. 

<sup>(d)</sup> Security valued using significant unobservable inputs (Level 3). See Note 1.

<sup>(e)</sup> Acquired through direct lending. Direct loans may be subject to liquidity and interest rate risk and certain direct loans may be deemed illiquid.

<sup>(f)</sup> All or a portion of this holding is subject to unfunded loan commitments. Interest rate will be determined at the time of funding. 

<sup>(g)</sup> Restricted security. The aggregate value of these securities at May 31, 2025 was $68,794,928, which represented 26.08% of the Fund's Net Assets.

<sup>(h)</sup> This variable rate interest will settle after May 31, 2025, at which time the interest rate will be determined.

<sup>(i)</sup> All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities.

<sup>(j)</sup> Acquired as part of a bankruptcy restructuring.

<sup>(k)</sup> Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at May 31, 2025 was $713,901, which represented less than 1% of the Fund's Net Assets. 

<sup>(l)</sup> Securities acquired through the restructuring of senior loans.

<sup>(m)</sup> Non-income producing security.

<sup>(n)</sup> Foreign denominated security. Principal amount is denominated in the currency indicated.

<sup>(o)</sup> Security purchased or received in a transaction exempt from registration under the 1933 Act. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2025 was $35,770,668, which represented 13.56% of the Fund's Net Assets. 

<sup>(p)</sup> Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2025.

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**February 28, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**May 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| Invesco Government & Agency Portfolio, Institutional Class | $- | &nbsp;&nbsp; $11223921 | &nbsp;&nbsp; $(11223921) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $7884 |
| Invesco Treasury Portfolio, Institutional Class | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7482613 | &nbsp;&nbsp;&nbsp; (7482613) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5216 |
| Total | $- | &nbsp;&nbsp; $18706534 | &nbsp;&nbsp; $(18706534) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; $13100 |

---

The aggregate value of securities considered illiquid at May 31, 2025 was $226,777,173, which represented 85.96% of the Fund's Net Assets.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** | **Open Forward Foreign Currency Contracts** |
| **Settlement** <br>**Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement** <br>**Date** | **Counterparty** | **Deliver** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Currency Risk** |  |  |  |  |  |  |
| 06/30/2025 | Barclays Bank PLC | USD | 16736 | SEK | 160442 | &nbsp;&nbsp;&nbsp; $26 |
| 06/30/2025 | BNP Paribas S.A. | EUR | 18954631 | USD | 21652991 | &nbsp;&nbsp;&nbsp; 93654 |
| 07/31/2025 | BNP Paribas S.A. | EUR | 19114062 | USD | 21791430 | &nbsp;&nbsp;&nbsp; 5835 |
| 07/31/2025 | BNP Paribas S.A. | GBP | 2609538 | USD | 3526490 | &nbsp;&nbsp;&nbsp; 9656 |
| 07/31/2025 | Canadian Imperial Bank of Commerce | EUR | 19403669 | USD | 22137258 | &nbsp;&nbsp;&nbsp; 21578 |
| 07/31/2025 | Canadian Imperial Bank of Commerce | GBP | 2649076 | USD | 3578769 | &nbsp;&nbsp;&nbsp; 8650 |
| 07/31/2025 | Canadian Imperial Bank of Commerce | SEK | 10439945 | USD | 1098352 | &nbsp;&nbsp;&nbsp; 5445 |
| 06/30/2025 | Morgan Stanley and Co. International PLC | EUR | 19260616 | USD | 21998569 | &nbsp;&nbsp;&nbsp; 91199 |
| 07/31/2025 | Morgan Stanley and Co. International PLC | GBP | 31362 | USD | 42339 | &nbsp;&nbsp;&nbsp; 73 |
| 07/31/2025 | Royal Bank of Canada | EUR | 19403669 | USD | 22117757 | &nbsp;&nbsp;&nbsp; 2078 |
| 06/30/2025 | State Street Bank & Trust Co. | EUR | 18954631 | USD | 21638038 | &nbsp;&nbsp;&nbsp; 78701 |
| 07/31/2025 | State Street Bank & Trust Co. | GBP | 2649076 | USD | 3582041 | &nbsp;&nbsp;&nbsp; 11921 |
| 07/31/2025 | State Street Bank & Trust Co. | USD | 10757 | SEK | 103155 | &nbsp;&nbsp;&nbsp; 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Appreciation | &nbsp;&nbsp;&nbsp; 328858 |
| **Currency Risk** |  |  |  |  |  |  |
| 06/30/2025 | Barclays Bank PLC | GBP | 2729289 | USD | 3637576 | &nbsp;&nbsp;&nbsp; (40196)<br>|
| 07/31/2025 | Barclays Bank PLC | USD | 1140694 | EUR | 1000000 | &nbsp;&nbsp;&nbsp; (926)<br>|
| 06/30/2025 | BNP Paribas S.A. | USD | 21746034 | EUR | 19114062 | &nbsp;&nbsp;&nbsp; (5357)<br>|

---

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open Forward Foreign Currency Contracts—(continued)** | **Open Forward Foreign Currency Contracts—(continued)** | **Open Forward Foreign Currency Contracts—(continued)** | **Open Forward Foreign Currency Contracts—(continued)** | **Open Forward Foreign Currency Contracts—(continued)** | **Open Forward Foreign Currency Contracts—(continued)** | **Open Forward Foreign Currency Contracts—(continued)** |
| **Settlement**<br> **Date** | **Counterparty** | **Contract to** | **Contract to** | **Contract to** | **Contract to** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| **Settlement**<br> **Date** | **Counterparty** | **Deliver** | **Deliver** | **Receive** | **Receive** | &nbsp;&nbsp; **Unrealized**<br> **Appreciation**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)** |
| 06/30/2025 | BNP Paribas S.A. | USD | 3526009 | GBP | 2609538 | &nbsp;&nbsp;&nbsp; $(9605)<br>|
| 06/30/2025 | Canadian Imperial Bank of Commerce | EUR | 751522 | USD | 840366 | &nbsp;&nbsp;&nbsp; (14429)<br>|
| 06/30/2025 | Canadian Imperial Bank of Commerce | GBP | 20785 | USD | 27695 | &nbsp;&nbsp;&nbsp; (313)<br>|
| 06/30/2025 | Canadian Imperial Bank of Commerce | USD | 22091077 | EUR | 19403669 | &nbsp;&nbsp;&nbsp; (20996)<br>|
| 06/30/2025 | Canadian Imperial Bank of Commerce | USD | 3578294 | GBP | 2649076 | &nbsp;&nbsp;&nbsp; (8610)<br>|
| 06/30/2025 | Canadian Imperial Bank of Commerce | USD | 1093154 | SEK | 10411032 | &nbsp;&nbsp;&nbsp; (5436)<br>|
| 07/31/2025 | Canadian Imperial Bank of Commerce | EUR | 355348 | USD | 404771 | &nbsp;&nbsp;&nbsp; (242)<br>|
| 06/30/2025 | Goldman Sachs International | SEK | 30971 | USD | 3212 | &nbsp;&nbsp;&nbsp; (24)<br>|
| 06/30/2025 | Morgan Stanley and Co. International PLC | GBP | 2578808 | USD | 3435605 | &nbsp;&nbsp;&nbsp; (39390)<br>|
| 06/30/2025 | Royal Bank of Canada | SEK | 10540502 | USD | 1094166 | &nbsp;&nbsp;&nbsp; (7079)<br>|
| 06/30/2025 | Royal Bank of Canada | USD | 22071673 | EUR | 19403669 | &nbsp;&nbsp;&nbsp; (1592)<br>|
| 06/30/2025 | State Street Bank & Trust Co. | GBP | 2578808 | USD | 3433994 | &nbsp;&nbsp;&nbsp; (41001)<br>|
| 06/30/2025 | State Street Bank & Trust Co. | USD | 3581564 | GBP | 2649076 | &nbsp;&nbsp;&nbsp; (11881)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subtotal—Depreciation | &nbsp;&nbsp;&nbsp; (207077)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp; $121781 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| SEK | – Swedish Krona |
| USD | – U.S. Dollar |

---

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this consolidated schedule.

**Invesco Dynamic Credit Opportunity Fund**

------

**Notes to Quarterly Consolidated Schedule of Portfolio Holdings**

*May 31, 2025*

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 – Prices are determined using quoted prices in an active market for identical assets.

Level 2 – Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 – Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Advisers, Inc.'s (the "Adviser") assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of May 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the consolidated financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| <br>**Investments in Securities** |  |  |  |  |
| Variable Rate Senior Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $99058505 | &nbsp;&nbsp;&nbsp;&nbsp; $143361656 | &nbsp;&nbsp;&nbsp;&nbsp; $242420161 |
| Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp; 2750129 | &nbsp;&nbsp;&nbsp;&nbsp; 4810805 | &nbsp;&nbsp;&nbsp;&nbsp; 30459261 | &nbsp;&nbsp;&nbsp;&nbsp; 38020195 |
| Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28567884 | &nbsp;&nbsp;&nbsp;&nbsp; 1634816 | &nbsp;&nbsp;&nbsp;&nbsp; 30202700 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6711987 | &nbsp;&nbsp;&nbsp;&nbsp; 6711987 |
| U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2938483 | &nbsp;&nbsp;&nbsp;&nbsp; 656622 | &nbsp;&nbsp;&nbsp;&nbsp; 3595105 |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2629485 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2629485 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; 2750129 | &nbsp;&nbsp;&nbsp;&nbsp; 138005162 | &nbsp;&nbsp;&nbsp;&nbsp; 182824342 | &nbsp;&nbsp;&nbsp;&nbsp; 323579633 |
| **Other Investments - Assets\*** |  |  |  |  |
| Investments Matured | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13969172 | &nbsp;&nbsp;&nbsp;&nbsp; 13969172 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 328858 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 328858 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 328858 | &nbsp;&nbsp;&nbsp;&nbsp; 13969172 | &nbsp;&nbsp;&nbsp;&nbsp; 14298030 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (207077)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (207077)<br>|
| **Total Other Investments** | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 121781 | &nbsp;&nbsp;&nbsp;&nbsp; 13969172 | &nbsp;&nbsp;&nbsp;&nbsp; 14090953 |
| **Total Investments** | &nbsp;&nbsp;&nbsp;&nbsp; $2750129 | &nbsp;&nbsp;&nbsp;&nbsp; $138126943 | &nbsp;&nbsp;&nbsp;&nbsp; $196793514 | &nbsp;&nbsp;&nbsp;&nbsp; $337670586 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Forward foreign currency contracts are valued at unrealized appreciation (depreciation). Investments matured are shown at value.

A reconciliation of Level 3 investments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.

The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) during the three months ended May 31, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**02/28/25\***<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Accrued** <br>**Discounts/** <br>**Premiums**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Transfers** <br>**into** <br>**Level 3\*\***<br>| **Transfers** <br>**out of** <br>**Level 3\*\***<br>| **Value** <br>**05/31/25**<br>|
| Variable Rate Senior Loan Interests | $167898515 | $7450600 | $(34702875)<br>| $298119 | $(138152)<br>| $(1911042)<br>| $5586844 | $(1120353)<br>| $143361656 |
| Common Stocks & Other Equity Interests | 24296272 | 2019927 | (95430)<br>|  |  | 4238492 |  |  | 30459261 |
| Investments Matured | 36723 | 13932449 |  |  |  |  |  |  | 13969172 |
| Preferred Stocks | 8238843 |  |  |  |  | (1526856)<br>|  |  | 6711987 |
| Non-U.S. Dollar Denominated Bonds & Notes | 1494500 |  | (1016)<br>| 29335 | 1016 | 110981 |  |  | 1634816 |
| U.S. Dollar Denominated Bonds & Notes | 1356019 | 123240 |  | 6049 |  | (828686)<br>|  |  | 656622 |
| &nbsp;&nbsp;&nbsp; Total | $203320872 | $23526216 | $(34799321)<br>| $333503 | $(137136)<br>| $82889 | $5586844 | $(1120353)<br>| $196793514 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Prior year balances have been adjusted for a change in security classification.

\*\*Transfers into and out of Level 3 are due to increases or decreases in market activity impacting the available market inputs to determine the price.

**Invesco Dynamic Credit Opportunity Fund**

------

The following table summarizes the valuation techniques and significant unobservable inputs used in determining fair value measurements for those investments classified as Level 3 at period end:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Fair Value <br>at 05/31/25<br>| Valuation <br>Technique<br>| Unobservable <br>Inputs<br>| Range of <br>Unobservable <br>Inputs<br>| Weighted Average of <br>Unobservable Inputs <br>Based on Fair Value<br>|
| Variable Rate Senior Loan Interests | $143361656 | Comparable Companies | EBITDA Multiple | 6.50x - 11.50x | 8.18x |
|  |  | Discounted Cash Flow Model | Discount Rate | 8.80% - 17.65% | 13.46% |
| Common Stocks & Other Equity Interests | 30459261 | Comparable Companies | EBITDA Multiple | 3.50x - 5.50x | 4.69x |
|  |  | Discounted Cash Flow Model | Discount Rate | 10.70% | - |
|  |  |  | EBITDA Multiple | 8.40x | - |
| Preferred Stocks | 6711987 | Comparable Companies | EBITDA Multiple | 8.50x | - |
| Non-U.S. Dollar Denominated Bonds & Notes | 1634816 | Expected Recovery | Anticipated Proceeds | 89.00% of Par | - |
| U.S. Dollar Denominated Bonds & Notes | 65662 | Comparable Companies | EBITDA Multiple | 10.50x | - |
| Investments Matured | 13969172 | Expected Recovery | Anticipated Proceeds | 41.00% of Par | - |
| &nbsp;&nbsp;&nbsp; Total | $196793514 |  |  |  |  |

---

**Invesco Dynamic Credit Opportunity Fund**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Invesco Dynamic Credit Opportunity Fund

- **b. Investment Company Act file number:** 811-23665

- **c. CIK number of Registrant:** 0001860151

- **d. LEI of Registrant:** UJGJ6DJQ6L11ZHIVZG65

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

  - **Street Address 1:** 1331 Spring Street NW, Suite 2500

  - **City:** Atlanta

  - **State:** GA

  - **Foreign country:** US

  - **Zip / Postal Code:** 30309

  - **Telephone number:** 800-959-4246

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

- **a. Name of Series:** Invesco Dynamic Credit Opportunity Fund

- **c. LEI of Series:** UJGJ6DJQ6L11ZHIVZG65

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**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:** $349793955.81

**Total Liabilities:** $85974956.35

**Net Assets:** $263818999.46

**Cash Not Reported:** $4526836.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1.07694198 | **1-Year:** -17.70988481 | **5-Year:** -57.51728697 | **10-Year:** -182.94085830 | **30-Year:** -2.11394215

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

- **3-Month:** -164.01720950 | **1-Year:** -1529.86130019 | **5-Year:** -4201.64241424 | **10-Year:** -948.19563343 | **30-Year:** -0.00672387

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.54%               | -0.73%               | 3.23%                |
| Class ID N/A | -0.61%               | -0.71%               | 3.21%                |
| Class ID N/A | -0.61%               | -0.71%               | 3.25%                |
| Class ID N/A | -0.59%               | -0.69%               | 3.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15254168.83            | $-391155.57                                |
| Month 2  | $-2513478.15             | $6598564.01                                |
| Month 3  | $9818861.09              | $58564925.53                               |

**Designated Index Information**

- **Index Name:** S&P UBS Leveraged Loan Index

- **Index Identifier:** 100% CS-Lev Loan, 100% BM-Securities only

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| My Alarm Center, LLC                                         | My Alarm Center, LLC, Class A                                                      | CUSIP: N/A<br>LEI: 549300IB2N33MHM2N880       | Long             | EC               | CORP              | US        |     47743 | NS      | $14559196.14  | 5.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Crown Finance US. Inc.                                       | Crown Finance US. Inc.                                                             | CUSIP: N/A<br>LEI: 254900ABTWPQTCKKR839       | Long             | EC               | CORP              | US        |       772 | NS      | $17949.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| First Brands Group, LLC                                      | First Brands Group, LLC, First Lien Term Loan                                      | CUSIP: 31935HAD9<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |     62142 | PA      | $60228.73     | 0.02%             | 2027-03-30      | Floating      | 9.54%                 | Yes           |                  2 | On Loan: No      |
| Mavenir Systems, Inc.                                        | Mavenir Systems, Inc., Delayed Draw Term Loan                                      | CUSIP: N/A<br>LEI: 549300Q70CXM8TJLTD42       | Long             | LON              | CORP              | US        |     38497 | PA      | $52317.90     | 0.02%             | 2025-06-30      | Floating      | 14.44%                | Yes           |                  3 | On Loan: No      |
| FDH Group Acquisition, Inc.                                  | FDH Group Acquisition, Inc., Delayed Draw Term Loan                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    272109 | PA      | $270829.93    | 0.10%             | 2031-10-21      | Floating      | 0.50%                 | No            |                  3 | On Loan: No      |
| Engineering Research and Consulting, LLC (aka Astrion)       | Engineering Research and Consulting, LLC (aka Astrion), First Lien Term Loan       | CUSIP: 29288KAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    708261 | PA      | $700293.29    | 0.27%             | 2031-08-15      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| JVMC Holdings Corp.                                          | JVMC Holdings Corp., Class A                                                       | CUSIP: N/A<br>LEI: 549300YNQA38HHOO8322       | Long             | EC               | CORP              | US        |      1142 | NS      | $720413.15    | 0.27%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                          | Commercial Barge Line Co., Series B, Pfd., Wts., expiring 04/27/2045               | CUSIP: 00085Q167<br>LEI: N/A                  | N/A              | DE               |  | N/A       |     29536 | NS      | $2435833.92   | 0.92%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Utimaco (SGT Ultimate BidCo GmbH)                            | Utimaco (SGT Ultimate BidCo GmbH), Term Loan B-1                                   | CUSIP: N/A<br>LEI: 529900IBXNKRA4UZFY84       | Long             | LON              | CORP              | DE        |   2931852 | PA      | $3199141.43   | 1.21%             | 2029-05-31      | Floating      | 8.00%                 | No            |                  3 | On Loan: No      |
| NAS, LLC (d.b.a. Nationwide Marketing Group)                 | NAS, LLC (d.b.a. Nationwide Marketing Group), Term Loan                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   8649121 | PA      | $8164769.98   | 3.09%             | 2025-06-01      | Floating      | 10.93%                | No            |                  3 | On Loan: No      |
| Cabonline                                                    | Cabonline TL SEK                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SE        |   2236496 | NS      | $234.45       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Crown Finance US, Inc.                                       | Crown Finance US, Inc. TL USD                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    149097 | NS      | $3466506.18   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| MLN US HoldCo LLC (dba Mitel)                                | MLN US HoldCo LLC (dba Mitel), DIP Term Loan                                       | CUSIP: 55292HAQ6<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   1486269 | PA      | $1270760.26   | 0.48%             | 2025-07-03      | Floating      | 12.32%                | No            |                  3 | On Loan: No      |
| Quest Software US Holdings Inc.                              | Quest Software US Holdings Inc., First Lien Term Loan                              | CUSIP: 74834YAN2<br>LEI: 549300LMV4JEXTGLE324 | Long             | LON              | CORP              | US        |   1757411 | PA      | $1353206.59   | 0.51%             | 2029-02-01      | Floating      | 8.68%                 | Yes           |                  3 | On Loan: No      |
| Tribune Resources, LLC                                       | Tribune Resources, LLC                                                             | CUSIP: N/A<br>LEI: 549300IFWJYQ79PVEU45       | Long             | EC               | CORP              | US        |    376237 | NS      | $606682.16    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| JVMC Holdings Corp.                                          | JVMC Holdings Corp.                                                                | CUSIP: N/A<br>LEI: 549300YNQA38HHOO8322       | Long             | EC               | CORP              | US        |      5394 | NS      | $4029670.63   | 1.53%             |  |  |  | No            |                  3 | On Loan: No      |
| First Brands Group, LLC                                      | First Brands Group, LLC, First Lien Incremental Term Loan                          | CUSIP: 31935HAG2<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |    450125 | PA      | $436283.24    | 0.17%             | 2027-03-30      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| Natel Engineering Co., Inc.                                  | Natel Engineering Co., Inc., Term Loan                                             | CUSIP: 63229BAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3196158 | PA      | $2972426.61   | 1.13%             | 2026-04-30      | Floating      | 10.69%                | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                             | Empower CLO Ltd., Series 2023-2A, Class E                                          | CUSIP: 29247JAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2027732.00   | 0.77%             | 2036-07-15      | Floating      | 12.51%                | No            |                  2 | On Loan: No      |
| U.S. TelePacific Corp.                                       | U.S. TelePacific Corp., PIK Term Loan                                              | CUSIP: 90343TAZ6<br>LEI: 549300C81ZS48XBQR219 | Long             | LON              | CORP              | US        |     16963 | PA      | $6785.18      | 0.00%             | 2026-05-02      | Floating      | 10.98%                | No            |                  2 | On Loan: No      |
| Modena Buyer LLC (End User Computing)                        | Modena Buyer LLC (End User Computing), Term Loan                                   | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    135646 | PA      | $131810.34    | 0.05%             | 2031-07-01      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| GI Revelation Acquisition LLC                                | GI Revelation Acquisition LLC, Term Loan B-4                                       | CUSIP: 36171NAG1<br>LEI: 549300SMU3I9OBMDSS38 | Long             | LON              | CORP              | US        |   1150000 | PA      | $1146918.00   | 0.43%             | 2028-05-12      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Serta Simmons Bedding, LLC                                   | Serta Simmons Bedding, LLC, Term Loan                                              | CUSIP: 81753HAJ0<br>LEI: 549300M4F4V4WFPNI116 | Long             | LON              | CORP              | US        |   1692887 | PA      | $1552318.27   | 0.59%             | 2028-06-29      | Floating      | 11.91%                | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-242.28      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Harbor Freight Tools USA, Inc.                               | Harbor Freight Tools USA, Inc., Term Loan B                                        | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |     28611 | PA      | $27708.84     | 0.01%             | 2031-06-11      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Florida Food Products, LLC                                   | Florida Food Products, LLC, First Lien Term Loan                                   | CUSIP: 34068GAD4<br>LEI: 254900J6FNIX7DTKUV52 | Long             | LON              | CORP              | US        |   1097812 | PA      | $783563.39    | 0.30%             | 2028-10-18      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| Very Group Funding PLC (The)                                 | Very Group Funding PLC (The)                                                       | CUSIP: BQ7202360<br>LEI: 9845005CC91D50AF8202 | Long             | DBT              | CORP              | GB        |   1750000 | PA      | $2363328.67   | 0.90%             | 2026-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MLN US HoldCo LLC (dba Mitel)                                | MLN US HoldCo LLC (dba Mitel), DIP Term Loan                                       | CUSIP: 55292HAR4<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   1250495 | PA      | $900356.31    | 0.34%             | 2025-07-31      | Floating      | 12.33%                | No            |                  3 | On Loan: No      |
| Empire Today, LLC                                            | Empire Today, LLC, Term Loan                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2135478 | PA      | $950287.82    | 0.36%             | 2029-08-03      | Floating      | 9.54%                 | No            |                  3 | On Loan: No      |
| VRS Buyer, Inc.                                              | VRS Buyer, Inc., Term Loan                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1467756 | PA      | $1467755.81   | 0.56%             | 2030-11-22      | Floating      | 9.08%                 | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2618.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Victory Buyer LLC (Vantage Elevator)                         | Victory Buyer LLC (Vantage Elevator), Second Lien Term Loan                        | CUSIP: N/A<br>LEI: 549300G9TEUHGC81N056       | Long             | LON              | CORP              | US        |    258452 | PA      | $247467.37    | 0.09%             | 2029-11-19      | Floating      | 11.44%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $41.76        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Altice Financing S.A. (Altice-Intl)                          | Altice Financing S.A. (Altice-Intl), Term Loan B                                   | CUSIP: BL4437028<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |   2270443 | PA      | $2155831.62   | 0.82%             | 2027-10-31      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| RJO Holdings Corp.                                           | RJO Holdings Corp.                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       154 | NS      | $266215.43    | 0.10%             |  |  |  | No            |                  3 | On Loan: No      |
| Virgin Media 02 - LG                                         | Virgin Media 02 - LG, Term Loan Y                                                  | CUSIP: G9368PBH6<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |    750000 | PA      | $739815.00    | 0.28%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Organon & Co.                                                | Organon & Co., Term Loan                                                           | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |    308333 | PA      | $301010.41    | 0.11%             | 2031-05-19      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-9604.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Infinite Electronics                                         | Infinite Electronics, Second Lien Term Loan                                        | CUSIP: 45674KAF2<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |    473480 | PA      | $408376.15    | 0.15%             | 2029-03-02      | Floating      | 11.54%                | No            |                  2 | On Loan: No      |
| Weber-Stephen Products LLC                                   | Weber-Stephen Products LLC, Incremental Term Loan B                                | CUSIP: 94767KAP6<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |     71465 | PA      | $71368.19     | 0.03%             | 2027-10-30      | Floating      | 8.68%                 | No            |                  2 | On Loan: No      |
| Garfunkelux Holdco 3 S.A.                                    | Garfunkelux Holdco 3 S.A.                                                          | CUSIP: BM0610824<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |   4345000 | PA      | $3479680.90   | 1.32%             | 2025-11-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Libbey Glass LLC                                             | Libbey Glass LLC                                                                   | CUSIP: N/A<br>LEI: A7JTTZYG0P336HI4K290       | Long             | EC               | CORP              | US        |     13797 | NS      | $185569.65    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oxea Corp. (OQ Chemicals)                                    | Oxea Corp. (OQ Chemicals), Term Loan                                               | CUSIP: D7000RAB7<br>LEI: 529900164PDC9M4BDO51 | Long             | LON              | CORP              | DE        |   2119625 | PA      | $2304009.77   | 0.87%             | 2031-04-07      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| OmniMax International, LLC                                   | OmniMax International, LLC, Delayed Draw Term Loan                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    589942 | PA      | $578615.08    | 0.22%             | 2031-12-06      | Floating      | 10.03%                | No            |                  3 | On Loan: No      |
| Empire Today, LLC                                            | Empire Today, LLC, Term Loan A                                                     | CUSIP: N/A<br>LEI: 254900NVZEWAL7SJT856       | Long             | LON              | CORP              | US        |    636763 | PA      | $579454.43    | 0.22%             | 2029-08-03      | Floating      | 10.04%                | No            |                  3 | On Loan: No      |
| Western Smokehouse Partners                                  | Western Smokehouse Partners, Revolver Loan                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     56069 | PA      | $54947.30     | 0.02%             | 2030-03-31      | Floating      | 1.00%                 | No            |                  3 | On Loan: No      |
| iHeartMedia, Inc.                                            | iHeartMedia, Inc., Class B                                                         | CUSIP: 45174J608<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        42 | NS      | $36.75        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| McDermott International, Ltd.                                | McDermott International, Ltd., Term Loan                                           | CUSIP: N5200EAC5<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |    180158 | PA      | $99086.83     | 0.04%             | 2027-06-30      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Source Holding Delaware, LLC                                 | Source Holding Delaware, LLC, Delayed Draw Term Loan                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    388601 | PA      | $383898.96    | 0.15%             | 2031-02-07      | Floating      | 1.00%                 | No            |                  3 | On Loan: No      |
| Vivarte                                                      | Vivarte, Pfd.                                                                      | CUSIP: 931QTQ900<br>LEI: N/A                  | Long             | EP               | CORP              | FR        |   1220502 | NS      | $461477.78    | 0.17%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                          | Mavenir Systems, Inc. TL USD                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |    230354 | NS      | $0.23         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Zayo Group Holdings, Inc.                                    | Zayo Group Holdings, Inc., Incremental Term Loan                                   | CUSIP: 98919XAE1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |   1809759 | PA      | $1740047.33   | 0.66%             | 2027-03-09      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Utimaco (SGT Ultimate BidCo GmbH)                            | Utimaco (SGT Ultimate BidCo GmbH), Term Loan B-2                                   | CUSIP: N/A<br>LEI: 529900IBXNKRA4UZFY84       | Long             | LON              | CORP              | DE        |   1645484 | PA      | $1597764.69   | 0.61%             | 2029-05-31      | Floating      | 10.77%                | No            |                  3 | On Loan: No      |
| Cabonline                                                    | Cabonline TL SEK                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SE        |  63547434 | NS      | $89485.22     | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| Commercial Barge Line Co.                                    | Commercial Barge Line Co., Pfd.                                                    | CUSIP: 00085Q605<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     42058 | NS      | $3468523.26   | 1.31%             |  |  |  | No            |                  3 | On Loan: No      |
| Vue International Bidco PLC                                  | Vue International Bidco PLC, Class A2                                              | CUSIP: N/A<br>LEI: 2138002KEV3Y56IJTC64       | Long             | EC               | CORP              | GB        |   1026420 | NS      | $1.17         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $88579.62     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mavenir Systems, Inc.                                        | Mavenir Systems, Inc., Term Loan                                                   | CUSIP: N/A<br>LEI: 549300Q70CXM8TJLTD42       | Long             | LON              | CORP              | US        |    119598 | PA      | $162534.27    | 0.06%             | 2025-06-30      | Floating      | 14.59%                | No            |                  3 | On Loan: No      |
| Edelman Financial Center, LLC (The)                          | Edelman Financial Center, LLC (The), Second Lien Term Loan                         | CUSIP: 27943TAC3<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |     93060 | PA      | $93059.97     | 0.04%             | 2028-10-06      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| SIWF Holdings, Inc.                                          | SIWF Holdings, Inc., Term Loan                                                     | CUSIP: 78489HAE8<br>LEI: 54930062TONRLKZV7B16 | Long             | LON              | CORP              | US        |   1624458 | PA      | $1305666.08   | 0.49%             | 2028-10-06      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| NAS, LLC (d.b.a. Nationwide Marketing Group)                 | NAS, LLC (d.b.a. Nationwide Marketing Group), Term Loan                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2708736 | PA      | $2557047.03   | 0.97%             | 2025-06-01      | Floating      | 10.93%                | No            |                  3 | On Loan: No      |
| Source Holding Delaware, LLC                                 | Source Holding Delaware, LLC, Revolver Loan                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    194301 | PA      | $191949.49    | 0.07%             | 2031-02-07      | Floating      | 0.50%                 | No            |                  3 | On Loan: No      |
| Capitol Imaging Services, LLC                                | Capitol Imaging Services, LLC, Term Loan                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1989876 | PA      | $1968186.20   | 0.75%             | 2029-12-31      | Floating      | 9.28%                 | No            |                  3 | On Loan: No      |
| U.S. TelePacific Corp.                                       | U.S. TelePacific Corp., Third Lien Term Loan                                       | CUSIP: 90343TBD4<br>LEI: 549300C81ZS48XBQR219 | Long             | LON              | CORP              | US        |     99671 | PA      | $0.00         | 0.00%             | 2027-05-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Spin Holdco Inc.                                             | Spin Holdco Inc., Term Loan                                                        | CUSIP: 84850XAK8<br>LEI: 549300QAS44U2GUXGK45 | Long             | LON              | CORP              | US        |   1658643 | PA      | $1427295.55   | 0.54%             | 2028-03-04      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| Harbor Purchaser, Inc. (Houghton Mifflin Harcourt)           | Harbor Purchaser, Inc. (Houghton Mifflin Harcourt), First Lien Term Loan B         | CUSIP: 44157YAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2094036 | PA      | $2086402.90   | 0.79%             | 2029-04-09      | Floating      | 9.63%                 | No            |                  2 | On Loan: No      |
| SFR-Numericable (YPSO, Altice France)                        | SFR-Numericable (YPSO, Altice France), Term Loan B-14                              | CUSIP: F6628DAP9<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   7368471 | PA      | $7733100.70   | 2.93%             | 2028-08-15      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $2077.70      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| City Brewing Co., LLC                                        | City Brewing Co., LLC, Term Loan                                                   | CUSIP: 10756PAF6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    141059 | PA      | $130479.65    | 0.05%             | 2026-01-03      | Floating      | 13.58%                | Yes           |                  3 | On Loan: No      |
| FDH Group Acquisition, Inc.                                  | FDH Group Acquisition, Inc., Term Loan                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    726071 | PA      | $722658.89    | 0.27%             | 2031-10-21      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| NAC Aviation 8 Ltd.                                          | NAC Aviation 8 Ltd., Revolver Loan                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |   1642458 | PA      | $1642457.98   | 0.62%             | 2026-12-31      | Floating      | 5.63%                 | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-40195.76    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-14429.18    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Klockner (KPERST / Kleopatra)                                | Klockner (KPERST / Kleopatra), Term Loan B                                         | CUSIP: 49865NAU4<br>LEI: 529900XJNR9VFZXAOS85 | Long             | LON              | CORP              | DE        |   3000000 | PA      | $3140535.80   | 1.19%             | 2026-02-12      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Mavenir Systems, Inc.                                        | Mavenir Systems, Inc., Incremental Term Loan                                       | CUSIP: N/A<br>LEI: 549300Q70CXM8TJLTD42       | Long             | LON              | CORP              | US        |    115518 | PA      | $160800.76    | 0.06%             | 2025-06-30      | Floating      | 14.26%                | No            |                  3 | On Loan: No      |
| Kidde Global Solutions                                       | Kidde Global Solutions, Term Loan B                                                | CUSIP: 50221UAC5<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    561781 | PA      | $554059.34    | 0.21%             | 2031-10-02      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| SDB Holdco, LLC (Specialty Dental Brands)                    | SDB Holdco, LLC (Specialty Dental Brands), Delayed Draw Term Loan                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    748998 | PA      | $784950.37    | 0.30%             | 2027-03-18      | Floating      | 11.43%                | No            |                  3 | On Loan: No      |
| SDB Holdco LLC (Specialty Dental Brands)                     | SDB Holdco LLC (Specialty Dental Brands), Pfd.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   2844928 | NS      | $78235.52     | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| SDB Holdco, LLC (Specialty Dental Brands)                    | SDB Holdco, LLC (Specialty Dental Brands), Term Loan A                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   6360735 | PA      | $6360734.69   | 2.41%             | 2027-03-29      | Floating      | 11.42%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-5436.03     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5444.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| A-Gas Finco, Inc. (aka Arthur US FinCo)                      | A-Gas Finco, Inc. (aka Arthur US FinCo), Term Loan                                 | CUSIP: BL4459758<br>LEI: 254900YJ1VCSP18B5452 | Long             | LON              | CORP              | US        |   1080226 | PA      | $994931.24    | 0.38%             | 2029-12-14      | Floating      | 9.55%                 | No            |                  2 | On Loan: No      |
| Native Instruments (Music Creation Group GMBH / APTUS)       | Native Instruments (Music Creation Group GMBH / APTUS), Term Loan B                | CUSIP: N/A<br>LEI: 529900JMM5AGXC3NFC22       | Long             | LON              | CORP              | DE        |   1297883 | PA      | $1215786.74   | 0.46%             | 2028-03-03      | Floating      | 6.51%                 | Yes           |                  3 | On Loan: No      |
| BrightPet (AMCP Pet Holdings, Inc.)                          | BrightPet (AMCP Pet Holdings, Inc.), Term Loan                                     | CUSIP: N/A<br>LEI: 549300JOBX1WB2IOF508       | Long             | LON              | CORP              | US        |   4142271 | PA      | $3881307.64   | 1.47%             | 2026-10-05      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Vue International Bidco PLC                                  | Vue International Bidco PLC                                                        | CUSIP: N/A<br>LEI: 2138002KEV3Y56IJTC64       | Long             | EC               | CORP              | GB        |    638918 | NS      | $0.73         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| KAMC Holdings, Inc. (Franklin Energy Group)                  | KAMC Holdings, Inc. (Franklin Energy Group), First Lien Term Loan B                | CUSIP: 48238YAC2<br>LEI: 549300XJEBQG5WGJBZ22 | Long             | LON              | CORP              | US        |    488268 | PA      | $468685.69    | 0.18%             | 2026-08-14      | Floating      | 8.59%                 | Yes           |                  2 | On Loan: No      |
| Empire Today, LLC                                            | Empire Today, LLC, Term Loan                                                       | CUSIP: N/A<br>LEI: 254900NVZEWAL7SJT856       | Long             | LON              | CORP              | US        |    634872 | PA      | $577733.44    | 0.22%             | 2029-08-03      | Floating      | 10.04%                | No            |                  3 | On Loan: No      |
| Altice Financing S.A. (Altice-Intl)                          | Altice Financing S.A. (Altice-Intl), Incremental Term Loan                         | CUSIP: L0178UAL0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |   3067071 | PA      | $2912245.81   | 1.10%             | 2027-10-31      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                         | Ineos US Finance LLC, Term Loan                                                    | CUSIP: G4768PAN1<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   1200000 | PA      | $1164756.00   | 0.44%             | 2030-02-18      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| VRS Buyer, Inc.                                              | VRS Buyer, Inc., Revolver Loan                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    356746 | PA      | $356746.20    | 0.14%             | 2030-11-22      | Floating      | 0.50%                 | No            |                  3 | On Loan: No      |
| Lightstone Holdco LLC                                        | Lightstone Holdco LLC, Term Loan B                                                 | CUSIP: 53226GAK7<br>LEI: 549300VXK6UGDG7H3G98 | Long             | LON              | CORP              | US        |   1352174 | PA      | $1356263.83   | 0.51%             | 2027-01-29      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| Rad CLO 19 Ltd.                                              | Rad CLO 19 Ltd., Series 2023-19A, Class D2R                                        | CUSIP: 750104AY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $601752.60    | 0.23%             | 2038-03-20      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| Sandvine Corp.                                               | Sandvine Corp. TL USD                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      5849 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Proampac PG Borrower LLC                                     | Proampac PG Borrower LLC, Term Loan                                                | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |    500000 | PA      | $500375.00    | 0.19%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Eastern Power, LLC                                           | Eastern Power, LLC, Term Loan                                                      | CUSIP: 87264NAB3<br>LEI: 5493000R3E1L1VM1V279 | Long             | LON              | CORP              | US        |    679556 | PA      | $679080.81    | 0.26%             | 2028-04-03      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-20995.75    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RANGE RED OPER Inc.                                          | RANGE RED OPER Inc., Second Lien Term Loan                                         | CUSIP: N/A<br>LEI: 5493002M26QBOQ9CEJ87       | Long             | LON              | CORP              | US        |       144 | PA      | $0.00         | 0.00%             | 2029-10-01      | Floating      | 12.42%                | No            |                  3 | On Loan: No      |
| Cabonline Group Holding AB                                   | Cabonline Group Holding AB                                                         | CUSIP: ZH5209213<br>LEI: 549300PB67LZ38PTO750 | Long             | DBT              | CORP              | SE        |   3817522 | PA      | $383267.35    | 0.15%             | 2028-03-19      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Capitol Imaging Services, LLC                                | Capitol Imaging Services, LLC, Delayed Draw Term Loan                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    376712 | PA      | $372606.17    | 0.14%             | 2030-01-03      | Floating      | 7.19%                 | No            |                  3 | On Loan: No      |
| MLN US HoldCo LLC (dba Mitel)                                | MLN US HoldCo LLC (dba Mitel), Second Lien Term Loan B-1                           | CUSIP: 55292HAJ2<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   3738906 | PA      | $18881.48     | 0.01%             | 2027-10-18      | Floating      | 11.12%                | No            |                  3 | On Loan: No      |
| KAMC Holdings, Inc. (Franklin Energy Group)                  | KAMC Holdings, Inc. (Franklin Energy Group), Incremental Term Loan                 | CUSIP: 48238YAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    228202 | PA      | $219050.08    | 0.08%             | 2026-08-14      | Floating      | 8.59%                 | No            |                  3 | On Loan: No      |
| DTI HoldCo Inc.                                              | DTI HoldCo Inc., Term Loan B                                                       | CUSIP: 23358EAK5<br>LEI: 549300QQVMUL3P8XVJ27 | Long             | LON              | CORP              | US        |    276209 | PA      | $276295.03    | 0.10%             | 2029-04-26      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Cerba (Chrome Bidco)                                         | Cerba (Chrome Bidco), Incremental Term Loan D                                      | CUSIP: BL4072387<br>LEI: 9845000C1FYE89DC8677 | Long             | LON              | CORP              | FR        |   3000000 | PA      | $2687474.17   | 1.02%             | 2029-02-16      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| TTF Holdings, LLC (Soliant)                                  | TTF Holdings, LLC (Soliant), Term Loan B                                           | CUSIP: 83421EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    587034 | PA      | $580066.09    | 0.22%             | 2031-07-18      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Mavenir Systems, Inc.                                        | Mavenir Systems, Inc., Incremental Term Loan                                       | CUSIP: N/A<br>LEI: 549300Q70CXM8TJLTD42       | Long             | LON              | CORP              | US        |    154312 | PA      | $213258.80    | 0.08%             | 2025-06-30      | Floating      | 14.51%                | Yes           |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-41001.12    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Vue International Bidco PLC                                  | Vue International Bidco PLC                                                        | CUSIP: N/A<br>LEI: 2138002KEV3Y56IJTC64       | Long             | EC               | CORP              | GB        |    445416 | NS      | $0.51         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oxea Corp. (OQ Chemicals)                                    | Oxea Corp. (OQ Chemicals), Term Loan B-2                                           | CUSIP: D7000RAD3<br>LEI: 529900MSP24R2FE9U796 | Long             | LON              | CORP              | US        |   1519753 | PA      | $1451363.99   | 0.55%             | 2031-04-07      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| BrightPet (AMCP Pet Holdings, Inc.)                          | BrightPet (AMCP Pet Holdings, Inc.), Incremental Term Loan B                       | CUSIP: N/A<br>LEI: 549300JOBX1WB2IOF508       | Long             | LON              | CORP              | US        |   4258659 | PA      | $3990363.79   | 1.51%             | 2026-10-05      | Floating      | 11.48%                | No            |                  3 | On Loan: No      |
| Trinseo Materials Operating S.C.A.                           | Trinseo Materials Operating S.C.A., Term Loan A                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    308319 | PA      | $311402.45    | 0.12%             | 2028-05-03      | Floating      | 12.74%                | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $78700.59     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| MLN US HoldCo LLC (dba Mitel)                                | MLN US HoldCo LLC (dba Mitel), Third Lien Term Loan                                | CUSIP: 55292HAL7<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |   1874505 | PA      | $9466.25      | 0.00%             | 2027-10-18      | Floating      | 13.62%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-5356.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OmniMax International, LLC                                   | OmniMax International, LLC, Term Loan                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1910058 | PA      | $1873384.92   | 0.71%             | 2031-12-06      | Floating      | 10.03%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $93653.90     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Vue International Bidco PLC                                  | Vue International Bidco PLC, Class A1                                              | CUSIP: N/A<br>LEI: 2138002KEV3Y56IJTC64       | Long             | EC               | CORP              | GB        |      2084 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Serta Simmons Bedding, LLC                                   | Serta Simmons Bedding, LLC                                                         | CUSIP: N/A<br>LEI: 549300M4F4V4WFPNI116       | Long             | EC               | CORP              | US        |     61610 | NS      | $646905.00    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-23.77       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Samson Investment Co.                                        | Samson Investment Co., Class A                                                     | CUSIP: 931GSK906<br>LEI: EE5W18H3TVA53PMLNG63 | Long             | EC               | CORP              | US        |    163748 | NS      | $1637.48      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $5835.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                          | Commercial Barge Line Co., Series B, Wts., expiring 04/30/2045                     | CUSIP: 00085Q183<br>LEI: N/A                  | N/A              | DE               |  | N/A       |    177216 | NS      | $110760.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Learning Pool (Brook Bidco Ltd.)                             | Learning Pool (Brook Bidco Ltd.), Term Loan                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    632346 | PA      | $821319.69    | 0.31%             | 2028-08-17      | Floating      | 11.49%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-11880.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| McAfee, LLC                                                  | McAfee, LLC, Term Loan B                                                           | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |   1000000 | PA      | $965250.00    | 0.37%             | 2029-03-01      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Libbey Glass LLC                                             | Libbey Glass LLC, Term Loan B                                                      | CUSIP: 52989XAC7<br>LEI: A7JTTZYG0P336HI4K290 | Long             | LON              | CORP              | US        |   1907833 | PA      | $1850597.58   | 0.70%             | 2027-11-22      | Floating      | 10.93%                | Yes           |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-925.78      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Nexstar Broadcasting, Inc.                                   | Nexstar Broadcasting, Inc., Term Loan B-4                                          | CUSIP: 65336RAW8<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |       277 | PA      | $277.35       | 0.00%             | 2026-09-18      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| Keg Logistics, LLC                                           | Keg Logistics, LLC, Revolver Loan                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1366251 | PA      | $1273346.15   | 0.48%             | 2027-11-23      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| Cabonline Group Holding AB                                   | Cabonline Group Holding AB, Series 0001                                            | CUSIP: BV5219233<br>LEI: 549300PB67LZ38PTO750 | Long             | DBT              | CORP              | SE        |   7380436 | PA      | $346428.86    | 0.13%             | 2029-04-19      | Fixed         | 13.16%                | Yes           |                  2 | On Loan: No      |
| Lightning Finco Ltd. (LiveU)                                 | Lightning Finco Ltd. (LiveU), Term Loan B-2                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   1885776 | PA      | $2141204.92   | 0.81%             | 2028-08-31      | Floating      | 8.08%                 | No            |                  3 | On Loan: No      |
| Restoration Forest Products Group, LLC                       | Restoration Forest Products Group, LLC                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     39150 | NS      | $3555237.56   | 1.35%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer B.V.          | Organon & Co. / Organon Foreign Debt Co-Issuer B.V.                                | CUSIP: 68622FAA9<br>LEI: 549300AMCKY57OK2CO56 | Long             | DBT              | CORP              | US        |    230000 | PA      | $214259.53    | 0.08%             | 2034-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Source Holding Delaware, LLC                                 | Source Holding Delaware, LLC, Term Loan                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    901554 | PA      | $890645.59    | 0.34%             | 2031-02-07      | Floating      | 8.83%                 | No            |                  3 | On Loan: No      |
| Level 3 Financing, Inc.                                      | Level 3 Financing, Inc., Term Loan                                                 | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    500000 | PA      | $503855.00    | 0.19%             | 2032-03-30      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $26.49        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NAS, LLC (d.b.a. Nationwide Marketing Group)                 | NAS, LLC (d.b.a. Nationwide Marketing Group), Term Loan                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1643094 | PA      | $1551080.60   | 0.59%             | 2025-06-01      | Floating      | 10.93%                | No            |                  3 | On Loan: No      |
| MLN US HoldCo LLC (dba Mitel)                                | MLN US HoldCo LLC (dba Mitel), Revolver Loan                                       | CUSIP: N/A<br>LEI: 549300QKU7NPW6O86862       | Long             | LON              | CORP              | US        |    636175 | PA      | $203575.91    | 0.08%             | 2025-11-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Keg Logistics, LLC                                           | Keg Logistics, LLC, Term Loan A                                                    | CUSIP: 74982CAG5<br>LEI: 549300WB8UJH5ITJ7O62 | Long             | LON              | CORP              | US        |  20764185 | PA      | $19352220.52  | 7.34%             | 2027-11-16      | Floating      | 10.47%                | No            |                  3 | On Loan: No      |
| Sherwood Financing PLC                                       | Sherwood Financing PLC                                                             | CUSIP: YT4556858<br>LEI: 259400SSZWSSPNYW7K08 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $3411034.08   | 1.29%             | 2029-12-15      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC (Golden Nugget)                   | Fertitta Entertainment LLC (Golden Nugget), Term Loan                              | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    974934 | PA      | $970566.14    | 0.37%             | 2029-01-27      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Acuris Finance US Inc / Acuris Finance S.a.r.l.              | Acuris Finance US Inc / Acuris Finance S.a.r.l.                                    | CUSIP: 00511BAE7<br>LEI: 213800PHEXJH1L7ZN896 | Long             | DBT              | CORP              | US        |    875000 | PA      | $894906.25    | 0.34%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Monitronics International, Inc                               | Monitronics International, Inc. TL USD                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    116589 | NS      | $4043306.52   | 1.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lightning Finco Ltd. (LiveU)                                 | Lightning Finco Ltd. (LiveU), Term Loan B-1                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |  18375146 | PA      | $18375145.70  | 6.97%             | 2028-08-31      | Floating      | 10.19%                | No            |                  3 | On Loan: No      |
| NewLife Forest Restoration, LLC                              | NewLife Forest Restoration, LLC, Term Loan                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1165963 | PA      | $1165963.38   | 0.44%             | 2029-04-10      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Hilding Anders AB                                            | Hilding Anders AB, PIK Term Loan                                                   | CUSIP: N/A<br>LEI: 54930054I2B3F0CNE428       | Long             | LON              | CORP              | SE        |    340076 | PA      | $386138.79    | 0.15%             | 2027-02-26      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| iHeartCommunications, Inc.                                   | iHeartCommunications, Inc., Term Loan                                              | CUSIP: 45174UAJ7<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |    480314 | PA      | $395658.57    | 0.15%             | 2029-05-01      | Floating      | 10.21%                | No            |                  2 | On Loan: No      |
| Mavenir Systems, Inc.                                        | Mavenir Systems, Inc., Incremental Term Loan                                       | CUSIP: N/A<br>LEI: 549300Q70CXM8TJLTD42       | Long             | LON              | CORP              | US        |     56955 | PA      | $78370.27     | 0.03%             | 2025-06-30      | Floating      | 14.40%                | No            |                  3 | On Loan: No      |
| Eisner Advisory Group LLC                                    | Eisner Advisory Group LLC, Incremental Term Loan                                   | CUSIP: 28259HAG6<br>LEI: 549300TV33NKCG2ZE467 | Long             | LON              | CORP              | US        |    866681 | PA      | $870746.17    | 0.33%             | 2031-02-28      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Form Technologies LLC                                        | Form Technologies LLC, Term Loan                                                   | CUSIP: 34634FAF6<br>LEI: X7KHAIMGSSPZ1XIJIL51 | Long             | LON              | CORP              | US        |    490145 | PA      | $466862.66    | 0.18%             | 2030-05-30      | Floating      | 10.02%                | No            |                  2 | On Loan: No      |
| City Brewing Co., LLC                                        | City Brewing Co., LLC, First Lien Term Loan                                        | CUSIP: 10756PAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    365527 | PA      | $149866.13    | 0.06%             | 2028-04-05      | Floating      | 10.51%                | Yes           |                  3 | On Loan: No      |
| Brookfield Retail Holdings VII Sub 3 LLC                     | Brookfield Retail Holdings VII Sub 3 LLC, Term Loan                                | CUSIP: N/A<br>LEI: 549300K1JD1LDRNBET48       | Long             | LON              | CORP              | US        |   1457834 | PA      | $1446900.14   | 0.55%             | 2030-05-16      | Floating      | 7.83%                 | No            |                  3 | On Loan: No      |
| Viking Baked Goods Acquisition Corp.                         | Viking Baked Goods Acquisition Corp.                                               | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |    762000 | PA      | $720318.68    | 0.27%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Cerba (Chrome Bidco)                                         | Cerba (Chrome Bidco), Term Loan B                                                  | CUSIP: BL3618057<br>LEI: 9845000C1FYE89DC8677 | Long             | LON              | CORP              | FR        |   4000000 | PA      | $3543013.12   | 1.34%             | 2028-06-30      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| City Brewing Co., LLC                                        | City Brewing Co., LLC, Term Loan                                                   | CUSIP: 10756PAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    957749 | PA      | $392677.01    | 0.15%             | 2028-04-05      | Floating      | 8.02%                 | Yes           |                  3 | On Loan: No      |
| SDB Holdco, LLC (Specialty Dental Brands)                    | SDB Holdco, LLC (Specialty Dental Brands) TL USD                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5863446 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Cabonline                                                    | Cabonline TL SEK                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SE        |   1908761 | NS      | $100.55       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Infinite Electronics                                         | Infinite Electronics, First Lien Term Loan                                         | CUSIP: 45674KAB1<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |    865573 | PA      | $791998.86    | 0.30%             | 2028-03-02      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| Interior Logic Group, Inc. (Signal Parent)                   | Interior Logic Group, Inc. (Signal Parent), Term Loan B                            | CUSIP: 82666KAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1046446 | PA      | $710113.19    | 0.27%             | 2028-04-01      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| VRS Buyer, Inc.                                              | VRS Buyer, Inc., Delayed Draw Term Loan                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    713492 | PA      | $713492.41    | 0.27%             | 2030-11-22      | Floating      | 0.75%                 | No            |                  3 | On Loan: No      |
| Mavenir Systems, Inc.                                        | Mavenir Systems, Inc., Term Loan B                                                 | CUSIP: 57767EAE2<br>LEI: 549300Q70CXM8TJLTD42 | Long             | LON              | CORP              | US        |   1698512 | PA      | $50955.35     | 0.02%             | 2028-08-18      | Floating      | 9.34%                 | Yes           |                  3 | On Loan: No      |
| Western Smokehouse Partners                                  | Western Smokehouse Partners, Term Loan                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1321043 | PA      | $1294622.39   | 0.49%             | 2030-03-31      | Floating      | 10.07%                | No            |                  3 | On Loan: No      |
| LHS Borrow, LLC (Leaf Home Solutions)                        | LHS Borrow, LLC (Leaf Home Solutions), Term Loan                                   | CUSIP: 50204EAB4<br>LEI: 2549000R2CJY3YBDDU14 | Long             | LON              | CORP              | US        |   1542604 | PA      | $1467402.10   | 0.56%             | 2029-02-16      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-7079.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $73.14        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                          | Muth Mirror Systems, LLC, Wrts.                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |    195470 | NS      | $0.20         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Deerfield Dakota Holding Corp.                               | Deerfield Dakota Holding Corp., First Lien Term Loan                               | CUSIP: 24440EAB3<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |   1694828 | PA      | $1651745.28   | 0.63%             | 2027-04-09      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Riverbed Technology LLC                                      | Riverbed Technology LLC, PIK Term Loan                                             | CUSIP: N/A<br>LEI: XWT9B0BASIY6FJ5R7M02       | Long             | LON              | CORP              | US        |   1623167 | PA      | $803467.75    | 0.30%             | 2028-07-01      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Muth Mirror Systems, LLC                                     | Muth Mirror Systems, LLC                                                           | CUSIP: N/A<br>LEI: 549300X02038HY7ZXM71       | Long             | EC               | CORP              | US        |     29146 | NS      | $0.03         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MedAssets Software Intermediate Holdings, Inc. (nThrive TSG) | MedAssets Software Intermediate Holdings, Inc. (nThrive TSG), First Lien Term Loan | CUSIP: 31810YAB6<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |     96958 | PA      | $96806.59     | 0.04%             | 2028-12-17      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| STG Distribution, LLC                                        | STG Distribution, LLC, Term Loan                                                   | CUSIP: 78477PAB0<br>LEI: 254900PK0UVOOVNNRA84 | Long             | LON              | CORP              | US        |    277107 | PA      | $236926.45    | 0.09%             | 2029-10-03      | Floating      | 5.43%                 | No            |                  3 | On Loan: No      |
| Global Medical Response, Inc.                                | Global Medical Response, Inc., Term Loan                                           | CUSIP: 00169QAG4<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |   1575706 | PA      | $1580346.28   | 0.60%             | 2028-10-31      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-8610.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CV Intermediate Holdco Corp. (Class Valuation)               | CV Intermediate Holdco Corp. (Class Valuation), Revolver Loan                      | CUSIP: N/A<br>LEI: 549300I41LO6E1F0QK80       | Long             | LON              | CORP              | US        |   1261707 | PA      | $1261707.32   | 0.48%             | 2026-03-31      | Floating      | 10.70%                | No            |                  3 | On Loan: No      |
| Eisner Advisory Group LLC                                    | Eisner Advisory Group LLC, Delayed Draw Term Loan                                  | CUSIP: N/A<br>LEI: 549300TV33NKCG2ZE467       | Long             | LON              | CORP              | US        |    575962 | PA      | $575961.59    | 0.22%             | 2031-02-28      | Floating      | 8.33%                 | No            |                  3 | On Loan: No      |
| Trinseo Materials Operating S.C.A.                           | Trinseo Materials Operating S.C.A., Term Loan B                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |   2269066 | PA      | $2298371.27   | 0.87%             | 2028-05-03      | Floating      | 12.79%                | No            |                  2 | On Loan: No      |
| Acacium (Impala Bidco Ltd.)                                  | Acacium (Impala Bidco Ltd.), Incremental Term Loan B                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    955213 | PA      | $730737.60    | 0.28%             | 2028-06-08      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| Garfunkelux Holdco 3 S.A.                                    | Garfunkelux Holdco 3 S.A.                                                          | CUSIP: BM0610881<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |   1000000 | PA      | $802227.02    | 0.30%             | 2026-05-01      | Floating      | 8.43%                 | Yes           |                  2 | On Loan: No      |
| McDermott International, Ltd.                                | McDermott International, Ltd., LOC                                                 | CUSIP: N/A<br>LEI: 54930004RAXI4B3L4752       | Long             | LON              | CORP              | US        |   2600801 | PA      | $2119652.51   | 0.80%             | 2027-06-30      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| ColourOz Investment 1 GmbH                                   | ColourOz Investment 1 GmbH, Class A                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | DE        |     18948 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Constant Contact, Inc.                                       | Constant Contact, Inc., Term Loan                                                  | CUSIP: 21031HAC5<br>LEI: 2549000JW50H0AI5B946 | Long             | LON              | CORP              | US        |    917545 | PA      | $863928.32    | 0.33%             | 2028-02-10      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| V Global Holdings LLC (aka Vertellus)                        | V Global Holdings LLC (aka Vertellus), Revolver Loan                               | CUSIP: 91823CAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    845183 | PA      | $805459.76    | 0.31%             | 2027-12-22      | Floating      | 10.96%                | No            |                  3 | On Loan: No      |
| NAS, LLC (d.b.a. Nationwide Marketing Group)                 | NAS, LLC (d.b.a. Nationwide Marketing Group), Revolver Loan                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    919516 | PA      | $868022.91    | 0.33%             | 2025-06-01      | Floating      | 7.28%                 | No            |                  3 | On Loan: No      |
| Capitol Imaging Services, LLC                                | Capitol Imaging Services, LLC, Revolver Loan                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    128425 | PA      | $127024.83    | 0.05%             | 2030-01-03      | Floating      | 0.50%                 | No            |                  3 | On Loan: No      |
| Crown Finance US, Inc.                                       | Crown Finance US, Inc., Term Loan B                                                | CUSIP: 22834KAU5<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |   2616363 | PA      | $2623138.99   | 0.99%             | 2031-12-02      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| Very Group Funding PLC (The)                                 | Very Group Funding PLC (The)                                                       | CUSIP: BQ7202352<br>LEI: 9845005CC91D50AF8202 | Long             | DBT              | CORP              | GB        |   5493000 | PA      | $7418151.07   | 2.81%             | 2026-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SonicWall US Holdings Inc.                                   | SonicWall US Holdings Inc., First Lien Term Loan                                   | CUSIP: 83547MAF4<br>LEI: 549300KJE1MHNCWBX302 | Long             | LON              | CORP              | US        |   1063728 | PA      | $1046724.19   | 0.40%             | 2028-05-18      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $9656.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mcdermott International, Ltd.                                | Mcdermott International, Ltd.                                                      | CUSIP: N/A<br>LEI: 54930004RAXI4B3L4752       | Long             | EC               | CORP              | BM        |    106979 | NS      | $1551195.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| McDermott International, Ltd.                                | McDermott International, Ltd., PIK Term Loan                                       | CUSIP: N5200EAB7<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |   1193430 | PA      | $526302.51    | 0.20%             | 2027-12-31      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| OGF (VESCAP/Obol France 3/PHM)                               | OGF (VESCAP/Obol France 3/PHM), Term Loan B                                        | CUSIP: BL4728129<br>LEI: 969500K3AWY66FOPOS97 | Long             | LON              | CORP              | FR        |   3505466 | PA      | $3880456.20   | 1.47%             | 2028-12-29      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| Hilding Anders AB                                            | Hilding Anders AB, Term Loan                                                       | CUSIP: N/A<br>LEI: 54930054I2B3F0CNE428       | Long             | LON              | CORP              | SE        |    533692 | PA      | $605980.34    | 0.23%             | 2026-12-31      | Floating      | 12.18%                | Yes           |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1592.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Serta Simmons Bedding, LLC                                   | Serta Simmons Bedding, LLC, First Lien Term Loan                                   | CUSIP: 81753HAL5<br>LEI: 549300M4F4V4WFPNI116 | Long             | LON              | CORP              | US        |    120118 | PA      | $120267.85    | 0.05%             | 2028-06-29      | Floating      | 11.88%                | No            |                  3 | On Loan: No      |
| UnitedLex Corp.                                              | UnitedLex Corp., Term Loan                                                         | CUSIP: 88830YAC0<br>LEI: 254900IJ4XQXC5YWDN28 | Long             | LON              | CORP              | US        |    917781 | PA      | $676863.49    | 0.26%             | 2027-03-20      | Floating      | 10.28%                | No            |                  3 | On Loan: No      |
| USF S&H Holdco, LLC                                          | USF S&H Holdco, LLC                                                                | CUSIP: N/A<br>LEI: 5493001SZ10B6WJEDM44       | Long             | EC               | CORP              | US        |     11114 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| North American Lifting Holdings, Inc.                        | North American Lifting Holdings, Inc.                                              | CUSIP: N/A<br>LEI: 5493008KV4SRQC7D1587       | Long             | EC               | CORP              | US        |     62889 | NS      | $72699.68     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Hunter Douglas Holding B.V.                                  | Hunter Douglas Holding B.V., Term Loan B                                           | CUSIP: N8137FAE0<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |   1000000 | PA      | $988750.00    | 0.37%             | 2032-01-14      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-39390.39    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Learning Pool (Brook Bidco Ltd.)                             | Learning Pool (Brook Bidco Ltd.), Term Loan                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    842372 | PA      | $808677.21    | 0.31%             | 2028-08-17      | Floating      | 11.54%                | No            |                  3 | On Loan: No      |
| MedAssets Software Intermediate Holdings, Inc. (nThrive TSG) | MedAssets Software Intermediate Holdings, Inc. (nThrive TSG), Term Loan            | CUSIP: 31810YAD2<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |    436951 | PA      | $395440.33    | 0.15%             | 2028-12-17      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| IAP Worldwide Services, Inc.                                 | IAP Worldwide Services, Inc.                                                       | CUSIP: 979UVH901<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       221 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Renaissance Holding Corp.                                    | Renaissance Holding Corp., Term Loan                                               | CUSIP: 75972JAK0<br>LEI: 549300UKKEC0Y6TXNF09 | Long             | LON              | CORP              | US        |   1163618 | PA      | $1076707.28   | 0.41%             | 2030-04-05      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| Voyager Parent, LLC                                          | Voyager Parent, LLC, Term Loan                                                     | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |   1672353 | PA      | $1644784.01   | 0.62%             | 2032-05-10      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| IAP Worldwide Services, Inc.                                 | IAP Worldwide Services, Inc.                                                       | CUSIP: 902GEG905<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1382229 | NS      | $746403.48    | 0.28%             |  |  |  | No            |                  3 | On Loan: No      |
| Cabonline Group Holding AB                                   | Cabonline Group Holding AB                                                         | CUSIP: ZH5206474<br>LEI: 549300PB67LZ38PTO750 | Long             | DBT              | CORP              | SE        |   1908761 | PA      | $191633.67    | 0.07%             | 2028-03-19      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Riverbed Technology, Inc.                                    | Riverbed Technology, Inc. TL USD                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     41987 | NS      | $5458.37      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lamark Media Group, LLC                                      | Lamark Media Group, LLC, Delayed Draw Term Loan                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1493557 | PA      | $1493556.67   | 0.57%             | 2027-10-14      | Floating      | 9.30%                 | No            |                  3 | On Loan: No      |
| Mold-Rite Plastics, LLC (Valcour Packaging LLC)              | Mold-Rite Plastics, LLC (Valcour Packaging LLC), PIK Term Loan                     | CUSIP: 91889CAH1<br>LEI: 254900JCJHQJK9LWF787 | Long             | LON              | CORP              | US        |    849179 | PA      | $724723.43    | 0.27%             | 2028-10-04      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Selecta Group B.V.                                           | Selecta Group B.V.                                                                 | CUSIP: BM1847953<br>LEI: 724500T3W7IMQS6AMA30 | Long             | DBT              | CORP              | NL        |   1617748 | PA      | $1634816.22   | 0.62%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| Kantar (Summer BC Bidco / KANGRP)                            | Kantar (Summer BC Bidco / KANGRP), Term Loan B                                     | CUSIP: 86564BAC6<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |    459274 | PA      | $455638.59    | 0.17%             | 2029-02-15      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| Lake at Las Vegas Joint Venture LLC                          | Lake at Las Vegas Joint Venture LLC, Class B                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        28 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Garfunkelux Holdco 3 S.A.                                    | Garfunkelux Holdco 3 S.A.                                                          | CUSIP: BM0610865<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |   3278000 | PA      | $2629700.15   | 1.00%             | 2026-05-01      | Floating      | 8.43%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                          | Commercial Barge Line Co., Wts., expiring 04/27/2045                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |      9414 | NS      | $766487.88    | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| City Brewing Co., LLC                                        | City Brewing Co., LLC, PIK Term Loan                                               | CUSIP: 10756PAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    972317 | PA      | $22489.68     | 0.01%             | 2028-04-05      | Floating      | 8.02%                 | Yes           |                  2 | On Loan: No      |
| Discovery Energy Holding Co. (Kohler Energy)                 | Discovery Energy Holding Co. (Kohler Energy), Term Loan B                          | CUSIP: 25472PAB6<br>LEI: 254900T31FAYMRQSAA12 | Long             | LON              | CORP              | US        |    316857 | PA      | $315668.69    | 0.12%             | 2031-05-01      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Talos Energy Inc.                                            | Talos Energy Inc.                                                                  | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |    149121 | NS      | $1198932.84   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GoTo Group, Inc. (LogMeIn)                                   | GoTo Group, Inc. (LogMeIn), First Lien Term Loan                                   | CUSIP: 38349FAC0<br>LEI: 549300D12V5KRBV00592 | Long             | LON              | CORP              | US        |   1408562 | PA      | $1240422.00   | 0.47%             | 2028-04-30      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| Inmarsat Finance PLC                                         | Inmarsat Finance PLC, Term Loan                                                    | CUSIP: L2000DAH7<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |   1359042 | PA      | $1247776.81   | 0.47%             | 2029-09-27      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| McDermott International, Ltd.                                | McDermott International, Ltd., LOC                                                 | CUSIP: N/A<br>LEI: ZAKWBIG8QLOPMZ888610       | Long             | LON              | CORP              | US        |   1305667 | PA      | $829098.68    | 0.31%             | 2027-06-30      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| MLN US HoldCo LLC (dba Mitel)                                | MLN US HoldCo LLC (dba Mitel), Term Loan                                           | CUSIP: 55292HAG8<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |    423588 | PA      | $135548.04    | 0.05%             | 2027-10-18      | Floating      | 10.96%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $21578.38     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Claire's Stores, Inc.                                        | Claire's Stores, Inc., Class s                                                     | CUSIP: 179ESCAP3<br>LEI: 549300N5HNYXI6JY7625 | Long             | EC               | CORP              | US        |       420 | NS      | $63.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lake at Las Vegas Joint Venture LLC                          | Lake at Las Vegas Joint Venture LLC, Class A                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2339 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IAP Worldwide Services, Inc.                                 | IAP Worldwide Services, Inc.                                                       | CUSIP: 902GEH002<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    221331 | NS      | $221330.70    | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| Commercial Barge Line Co.                                    | Commercial Barge Line Co.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8956 | NS      | $729197.52    | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fitness International, LLC                                   | Fitness International, LLC, Term Loan B                                            | CUSIP: 33818XAM2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    500000 | PA      | $502110.00    | 0.19%             | 2029-02-05      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| Teasdale Foods, Inc.                                         | Teasdale Foods, Inc.                                                               | CUSIP: N/A<br>LEI: 549300BJJFP7Z6DGKC24       | Long             | DBT              | CORP              | US        |   3156840 | PA      | $656622.67    | 0.25%             | 2026-06-18      | Fixed         | 16.25%                | No            |                  3 | On Loan: No      |
| Trinseo Materials Operating S.C.A.                           | Trinseo Materials Operating S.C.A., Term Loan                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    268108 | PA      | $271459.67    | 0.10%             | 2028-05-03      | Floating      | 12.74%                | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Europe AG                           | Citigroup Global Markets Europe AG                                                 | CUSIP: BA0000717<br>LEI: 6TJCK1B7E7UTXP528Y04 | Long             | DBT              | CORP              | DE        |    231390 | PA      | $420370.30    | 0.16%             | N/A             | Fixed         | 10.26%                | Yes           |                  3 | On Loan: No      |
| Signal Parent, Inc.                                          | Signal Parent, Inc.                                                                | CUSIP: 82666QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    564000 | PA      | $231240.00    | 0.09%             | 2029-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Parques Reunidos (Piolin Bidco s.a.u)                        | Parques Reunidos (Piolin Bidco s.a.u), Revolver Loan                               | CUSIP: E9000BAC5<br>LEI: 959800TK7BDDNB10UP50 | Long             | LON              | CORP              | ES        |   1529008 | PA      | $1614584.65   | 0.61%             | 2026-03-16      | Floating      | 3.50%                 | No            |                  3 | On Loan: No      |
| JVMC Holdings Corp.                                          | JVMC Holdings Corp., Class B                                                       | CUSIP: N/A<br>LEI: 549300YNQA38HHOO8322       | Long             | EC               | CORP              | US        |      3333 | NS      | $694732.64    | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $11921.35     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vue International Bidco PLC                                  | Vue International Bidco PLC, Second Lien Term Loan                                 | CUSIP: BA00006Z3<br>LEI: 2138002KEV3Y56IJTC64 | Long             | LON              | CORP              | GB        |    810475 | PA      | $1288355.47   | 0.49%             | 2027-12-31      | Floating      | 2.36%                 | Yes           |                  3 | On Loan: No      |
| Tank Holding Corp.                                           | Tank Holding Corp., Revolver Loan                                                  | CUSIP: 87583FAM0<br>LEI: 549300WQKU58ILVYFJ26 | Long             | LON              | CORP              | US        |    176344 | PA      | $162346.71    | 0.06%             | 2028-03-31      | Floating      | 0.38%                 | No            |                  3 | On Loan: No      |
| Checkout Holding Corp. (Catalina MArketing)                  | Checkout Holding Corp. (Catalina MArketing), Term Loan                             | CUSIP: N/A<br>LEI: 5493000F1R60SFVQY311       | Long             | LON              | CORP              | US        |    266168 | PA      | $265502.42    | 0.10%             | 2027-05-10      | Floating      | 13.83%                | No            |                  2 | On Loan: No      |
| Florida Food Products, LLC                                   | Florida Food Products, LLC, Second Lien Term Loan                                  | CUSIP: 34068GAG7<br>LEI: 254900J6FNIX7DTKUV52 | Long             | LON              | CORP              | US        |   1027710 | PA      | $539547.95    | 0.20%             | 2029-10-18      | Floating      | 12.56%                | No            |                  3 | On Loan: No      |
| Hilding Anders AB                                            | Hilding Anders AB, Term Loan                                                       | CUSIP: N/A<br>LEI: 54930054I2B3F0CNE428       | Long             | LON              | CORP              | SE        |    387284 | PA      | $439742.07    | 0.17%             | 2026-12-31      | Floating      | 12.18%                | Yes           |                  3 | On Loan: No      |
| Trinseo Materials Operating S.C.A.                           | Trinseo Materials Operating S.C.A., Incremental Term Loan                          | CUSIP: L9339LAK9<br>LEI: 549300WNMXD3KV7LO256 | Long             | LON              | CORP              | LU        |    989739 | PA      | $430259.34    | 0.16%             | 2028-05-03      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Kantar (Summer BC Bidco / KANGRP)                            | Kantar (Summer BC Bidco / KANGRP), Revolver Loan                                   | CUSIP: N/A<br>LEI: 984500NRF59D5DB9B654       | Long             | LON              | CORP              | LU        |   2500000 | PA      | $2368750.00   | 0.90%             | 2026-06-04      | Floating      | 1.05%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Europe AG                           | Citigroup Global Markets Europe AG                                                 | CUSIP: BA0000709<br>LEI: 6TJCK1B7E7UTXP528Y04 | Long             | DBT              | CORP              | DE        |    500620 | PA      | $795801.05    | 0.30%             | N/A             | Fixed         | 2.36%                 | Yes           |                  3 | On Loan: No      |
| Western Smokehouse Partners                                  | Western Smokehouse Partners, Delayed Draw Term Loan                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     46724 | PA      | $46256.65     | 0.02%             | 2030-03-31      | Floating      | 1.00%                 | No            |                  3 | On Loan: No      |
| MedAssets Software Intermediate Holdings, Inc. (nThrive TSG) | MedAssets Software Intermediate Holdings, Inc. (nThrive TSG), Term Loan            | CUSIP: 31810YAC4<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |    496214 | PA      | $485421.57    | 0.18%             | 2028-12-17      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Lamark Media Group, LLC                                      | Lamark Media Group, LLC, Term Loan                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   6898628 | PA      | $6898627.56   | 2.61%             | 2027-10-14      | Floating      | 10.15%                | No            |                  3 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-313.24      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Southcross Energy Partners GP LLC                            | Southcross Energy Partners GP LLC, Pfd.                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    288393 | NS      | $1701.52      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Flint Group (ColourOz Inv)                                   | Flint Group (ColourOz Inv), PIK Term Loan B                                        | CUSIP: N/A<br>LEI: 549300SIV6FPS9Y7IH33       | Long             | LON              | CORP              | DE        |     25970 | PA      | $2964.90      | 0.00%             | 2027-12-31      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Tegra118 Wealth Solutions, Inc.                              | Tegra118 Wealth Solutions, Inc., Term Loan                                         | CUSIP: 33774UAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    558370 | PA      | $552551.86    | 0.21%             | 2027-02-18      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| V Global Holdings LLC (aka Vertellus)                        | V Global Holdings LLC (aka Vertellus), Term Loan                                   | CUSIP: 91823CAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6739915 | PA      | $6423138.89   | 2.43%             | 2027-12-22      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| BrightPet (AMCP Pet Holdings, Inc.)                          | BrightPet (AMCP Pet Holdings, Inc.), Revolver Loan                                 | CUSIP: N/A<br>LEI: 549300JOBX1WB2IOF508       | Long             | LON              | CORP              | US        |   1501956 | PA      | $1407332.71   | 0.53%             | 2026-10-05      | Floating      | 11.43%                | No            |                  3 | On Loan: No      |
| Teasdale Foods, Inc.                                         | Teasdale Foods, Inc., Term Loan                                                    | CUSIP: N/A<br>LEI: 549300BJJFP7Z6DGKC24       | Long             | LON              | CORP              | US        |  15917003 | PA      | $15121152.96  | 5.73%             | 2025-12-18      | Floating      | 10.68%                | No            |                  3 | On Loan: No      |
| Cerved Group S.p.A.                                          | Cerved Group S.p.A.                                                                | CUSIP: BU3220730<br>LEI: 8156005E0EF91772E207 | Long             | DBT              | CORP              | IT        |   2000000 | PA      | $2204476.40   | 0.84%             | 2029-02-15      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Lightstone Holdco LLC                                        | Lightstone Holdco LLC, Term Loan C                                                 | CUSIP: 53226GAL5<br>LEI: 549300VXK6UGDG7H3G98 | Long             | LON              | CORP              | US        |     76474 | PA      | $76705.61     | 0.03%             | 2027-01-29      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| ViaSat, Inc.                                                 | ViaSat, Inc., Term Loan B                                                          | CUSIP: 92555WAF2<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |    966096 | PA      | $906521.65    | 0.34%             | 2030-05-30      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| N/A                                                          | Forward Foreign Currency Contract                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $8650.28      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tank Holding Corp.                                           | Tank Holding Corp., Term Loan                                                      | CUSIP: 87583FAN8<br>LEI: 549300WQKU58ILVYFJ26 | Long             | LON              | CORP              | US        |   1301798 | PA      | $1229385.36   | 0.47%             | 2028-03-31      | Floating      | 10.18%                | No            |                  2 | On Loan: No      |
| GoTo Group, Inc. (LogMeIn)                                   | GoTo Group, Inc. (LogMeIn), Second Lien Term Loan                                  | CUSIP: 38349FAD8<br>LEI: 549300D12V5KRBV00592 | Long             | LON              | CORP              | US        |   1225033 | PA      | $457096.57    | 0.17%             | 2028-04-30      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| Monitronics International, Inc.                              | Monitronics International, Inc., Term Loan B                                       | CUSIP: 60945HAG9<br>LEI: SCAKOG18M6QWWML8YF46 | Long             | LON              | CORP              | US        |   5981876 | PA      | $5956961.82   | 2.26%             | 2028-06-30      | Floating      | 12.09%                | Yes           |                  2 | On Loan: No      |
| Lamark Media Group, LLC                                      | Lamark Media Group, LLC, Revolver Loan                                             | CUSIP: 51322KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1018623 | PA      | $1018623.49   | 0.39%             | 2027-10-14      | Floating      | 0.50%                 | No            |                  3 | On Loan: No      |
| Rand Parent, LLC                                             | Rand Parent, LLC                                                                   | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $877758.10    | 0.33%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Bass Pro Group, LLC                                          | Bass Pro Group, LLC, Term Loan B                                                   | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   1200000 | PA      | $1192650.00   | 0.45%             | 2032-01-31      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| AFE S.A. SICAV-RAIF                                          | AFE S.A. SICAV-RAIF                                                                | CUSIP: N/A<br>LEI: 2221001M75L4SO9QJ626       | Long             | DBT              | CORP              | LU        |   8976000 | PA      | $5337955.37   | 2.02%             | 2030-07-15      | Floating      | 9.68%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Invesco Dynamic Credit Opportunity Fund

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Principal Financial Officer and Treasurer