# EDGAR Filing Document

**Accession Number:** 0000910068
**File Stem:** 0001752724-23-046670
**Filing Date:** 2023-2
**Character Count:** 182060
**Document Hash:** 822affda7673a0987f733c7836d29970
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-046670.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-046670

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.
- **CENTRAL INDEX KEY:** 0000910068
- **IRS NUMBER:** 133735236
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07920
- **FILM NUMBER:** 23682909

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 888-777-0102

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGH INCOME OPPORTUNITY FUND INC
- **DATE OF NAME CHANGE:** 19941230

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY HIGH INCOME OPPORTUNITY FUND INC
- **DATE OF NAME CHANGE:** 19930913

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY HIGH INCOME FUND INC
- **DATE OF NAME CHANGE:** 19930802

## Nport-Ex

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** |  | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| **CORPORATE BONDS & NOTES - 89.7%** |  |  |  |  |  |  |  |
| **COMMUNICATION SERVICES - 14.2%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Telecommunication Services - 3.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Telecommunication Services - 3.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | 5.000 | % | 1/15/28 | 1910000 |  | $1541656 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | 5.750 | % | 8/15/29 | 2140000 |  | 1687257 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Notes | 6.000 | % | 2/15/28 | 1380000 |  | 817570 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Secured Notes | 8.000 | % | 5/15/27 | 720000 | <sup>EUR</sup> | 571416 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Secured Notes | 10.500 | % | 5/15/27 | 4970000 |  | 3800310 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | 5.125 | % | 7/15/29 | 1400000 |  | 1052139 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | 5.500 | % | 10/15/29 | 980000 |  | 749029 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Italia SpA, Senior Notes | 5.303 | % | 5/30/24 | 2020000 |  | 1917990 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Telecommunication Services* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Telecommunication Services* |  |  |  |  | *12137367* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Interactive Media & Services - 0.1%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group Holdings II LLC, Senior Notes | 3.625 | % | 10/1/31 | 360000 |  | *276539* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - 7.0%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | 4.250 | % | 1/15/34 | 18480000 |  | 13675200 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Notes | 7.750 | % | 4/15/28 | 570000 |  | 416844 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Notes | 7.500 | % | 6/1/29 | 1140000 |  | 839205 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., Senior Secured Notes | 5.875 | % | 8/15/27 | 2760000 |  | 2474506 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | 5.875 | % | 11/15/24 | 3573000 |  | 3327513 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | 7.750 | % | 7/1/26 | 5580000 |  | 4511151 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | 7.375 | % | 7/1/28 | 2500000 |  | 1772813 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | 5.125 | % | 6/1/29 | 1850000 |  | 1196922 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VZ Secured Financing BV, Senior Secured Notes | 5.000 | % | 1/15/32 | 680000 |  | 553813 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Media* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Media* |  |  |  |  | *28767967* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wireless Telecommunication Services - 4.1%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | 5.750 | % | 1/15/30 | 600000 |  | 339717 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | 5.000 | % | 11/15/31 | 12350000 |  | 6916000 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sprint Capital Corp., Senior Notes | 6.875 | % | 11/15/28 | 2190000 |  | 2278027 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sprint Capital Corp., Senior Notes | 8.750 | % | 3/15/32 | 5910000 |  | 7046818 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sprint LLC, Senior Notes | 7.875 | % | 9/15/23 | 360000 |  | 365827 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Wireless Telecommunication Services* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Wireless Telecommunication Services* |  |  |  |  | *16946389* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMUNICATION SERVICES** |  |  |  |  |  | 58128262 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 1

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| **CONSUMER DISCRETIONARY - 16.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Components - 3.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd., Senior Notes | 4.875% | 8/15/26 | 3529000 |  | $3290581 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Notes | 6.500% | 4/1/27 | 5293000 |  | 4782558 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Notes | 5.000% | 10/1/29 | 830000 |  | 670285 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JB Poindexter & Co. Inc., Senior Notes | 7.125% | 4/15/26 | 5196000 |  | 5022350 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Auto Components* |  |  |  |  | *13765774* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobiles - 0.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC, Senior Notes | 3.625% | 6/17/31 | 520000 |  | *409166* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Consumer Services - 2.6%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APCOA Parking Holdings GmbH, Senior Secured Notes | 4.625% | 1/15/27 | 1070000 | <sup>EUR</sup> | 989012 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APCOA Parking Holdings GmbH, Senior Secured Notes | 4.625% | 1/15/27 | 1010000 | <sup>EUR</sup> | 933553 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carriage Services Inc., Senior Notes | 4.250% | 5/15/29 | 600000 |  | 477239 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Corp. International, Senior Notes | 7.500% | 4/1/27 | 1975000 |  | 2028925 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; StoneMor Inc., Senior Secured Notes | 8.500% | 5/15/29 | 6350000 |  | 5088255 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WW International Inc., Senior Secured Notes | 4.500% | 4/15/29 | 2200000 |  | 1101958 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Consumer Services* |  |  |  |  | *10618942* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure - 9.6%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 888 Acquisitions Ltd., Senior Secured Notes | 7.558% | 7/15/27 | 2600000 | <sup>EUR</sup> | 2400495 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | 7.625% | 3/1/26 | 3750000 |  | 2978868 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival Holdings Bermuda Ltd., Senior Notes | 10.375% | 5/1/28 | 1510000 |  | 1552861 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carrols Restaurant Group Inc., Senior Notes | 5.875% | 7/1/29 | 500000 |  | 351081 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Full House Resorts Inc., Senior Secured Notes | 8.250% | 2/15/28 | 1430000 |  | 1267781 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IRB Holding Corp., Senior Secured Notes | 7.000% | 6/15/25 | 1230000 |  | 1228831 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | 3.200% | 8/8/24 | 900000 |  | 851210 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | 3.900% | 8/8/29 | 750000 |  | 633328 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | 5.375% | 12/4/29 | 2007000 |  | 1613809 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | 3.625% | 12/15/24 | 1410000 |  | 1206872 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | 5.875% | 3/15/26 | 500000 |  | 393600 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | 7.750% | 2/15/29 | 5051000 |  | 3807646 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Finance Ltd., Senior Notes | 6.125% | 3/15/28 | 4540000 |  | 3357200 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | 5.375% | 7/15/27 | 2980000 |  | 2416634 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | 5.500% | 4/1/28 | 1840000 |  | 1471669 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saga PLC, Senior Notes | 3.375% | 5/12/24 | 1310000 | <sup>GBP</sup> | 1429113 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saga PLC, Senior Notes | 5.500% | 7/15/26 | 790000 | <sup>GBP</sup> | 716303 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | 3.350% | 3/8/29 | 1820000 |  | 1489328 |  |

---

**See Notes to Schedule of Investments.** 

2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure - (continued)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | 4.875% | 6/18/30 | 1470000 |  | $1293806 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Secured Notes | 13.000% | 5/15/25 | 1200000 |  | 1267964 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd., Senior Secured Notes | 5.625% | 2/15/29 | 1800000 |  | 1451340 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VOC Escrow Ltd., Senior Secured Notes | 5.000% | 2/15/28 | 140000 |  | 120635 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | 5.500% | 1/15/26 | 240000 |  | 220541 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | 5.625% | 8/26/28 | 2470000 |  | 2115049 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | 5.125% | 12/15/29 | 2174000 |  | 1762516 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | 7.750% | 4/15/25 | 2030000 |  | 2021954 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Hotels, Restaurants & Leisure* |  |  |  |  | *39420434* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Specialty Retail - 1.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Notes | 7.875% | 5/1/29 | 3480000 |  | 2331420 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PetSmart Inc./PetSmart Finance Corp., Senior Notes | 7.750% | 2/15/29 | 500000 |  | 470534 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital Inc., Senior Notes | 5.625% | 12/1/25 | 1590000 |  | 1534143 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Specialty Retail* |  |  |  |  | *4336097* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER DISCRETIONARY** |  |  |  |  | 68550413 |  |
| **CONSUMER STAPLES - 2.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Staples Retailing - 1.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bellis Acquisition Co. PLC, Senior Secured Notes | 3.250% | 2/16/26 | 3970000 | <sup>GBP</sup> | *3923017* | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food Products - 1.4%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bellis Finco PLC, Senior Notes | 4.000% | 2/16/27 | 1000000 | <sup>GBP</sup> | 894328 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FAGE International SA/FAGE USA Dairy Industry Inc., Senior Notes | 5.625% | 8/15/26 | 1550000 |  | 1440291 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp., Senior Notes | 5.875% | 9/30/27 | 3620000 |  | 3517541 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Food Products* |  |  |  |  | *5852160* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Household Products - 0.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spectrum Brands Inc., Senior Notes | 5.750% | 7/15/25 | 1210000 |  | *1198105* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER STAPLES** |  |  |  |  | 10973282 |  |
| **ENERGY - 16.4%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy Equipment & Services - 0.4%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunnova Energy Corp., Senior Notes | 5.875% | 9/1/26 | 2000000 |  | *1789280* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - 16.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apache Corp., Senior Notes | 5.100% | 9/1/40 | 1480000 |  | 1229832 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | 7.625% | 12/15/25 | 730000 |  | 725473 | <sup>(a)</sup> |

---

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 3

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Continental Resources Inc., Senior Notes | 3.800% | 6/1/24 | 300000 | $292217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Continental Resources Inc., Senior Notes | 4.375% | 1/15/28 | 220000 | 201936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Continental Resources Inc., Senior Notes | 4.900% | 6/1/44 | 1050000 | 780280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | 5.875% | 5/28/45 | 3100000 | 2165144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP, Junior Subordinated Notes (6.625% to 2/15/28 then 3 mo. USD LIBOR + 4.155%) | 6.625% | 2/15/28 | 3550000 | 2649187 <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%) | 6.750% | 5/15/25 | 2130000 | 1850437 <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP, Junior Subordinated Notes (7.125% to 5/15/30 then 5 year Treasury Constant Maturity Rate + 5.306%) | 7.125% | 5/15/30 | 4900000 | 4103750 <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners LP, Senior Notes | 4.500% | 1/15/29 | 1020000 | 858225 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners LP, Senior Notes | 7.500% | 6/1/30 | 780000 | 752622 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners LP, Senior Notes | 4.750% | 1/15/31 | 230000 | 188475 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EQT Corp., Senior Notes | 3.900% | 10/1/27 | 1440000 | 1332526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan Inc., Senior Notes | 7.750% | 1/15/32 | 6920000 | 7802549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NGPL PipeCo LLC, Senior Notes | 7.768% | 12/15/37 | 1520000 | 1588397 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | 2.900% | 8/15/24 | 1330000 | 1276016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | 5.875% | 9/1/25 | 4970000 | 4960103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | 5.550% | 3/15/26 | 750000 | 748410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | 6.200% | 3/15/40 | 1070000 | 1048997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | 5.750% | 2/1/29 | 660000 | 642022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | 6.750% | 1/27/41 | 5120000 | 4788083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos Mexicanos, Senior Notes | 6.500% | 6/2/41 | 1000000 | 653125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | 4.875% | 5/15/25 | 790000 | 751711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | 8.250% | 1/15/29 | 620000 | 639710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | 6.875% | 4/15/40 | 1140000 | 960554 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC/Summit Midstream Finance Corp., Secured Notes | 8.500% | 10/15/26 | 1430000 | 1363991 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes | 6.500% | 7/15/27 | 670000 | 675340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes | 6.875% | 1/15/29 | 450000 | 454378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportadora de Gas del Sur SA, Senior Notes | 6.750% | 5/2/25 | 1620000 | 1503660 <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | 4.300% | 2/1/30 | 2900000 | 2538007 |

---

**See Notes to Schedule of Investments.** 

4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - (continued)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | 5.300% | 3/1/48 | 1070000 | $881682 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | 5.500% | 2/1/50 | 9585000 | 7913136 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | 4.550% | 6/24/24 | 1030000 | 1019325 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | 7.500% | 1/15/31 | 620000 | 680651 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | 5.750% | 6/24/44 | 3190000 | 3054470 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; YPF SA, Senior Notes | 8.500% | 7/28/25 | 1600000 | 1344364 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; YPF SA, Senior Notes | 6.950% | 7/21/27 | 1530000 | 1086300 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Oil, Gas & Consumable Fuels* |  |  |  | *65505085* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL ENERGY** |  |  |  | 67294365 |  |
| **FINANCIALS - 13.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - 7.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA, Junior Subordinated Notes (6.625% to 1/24/32 then 10 year Treasury Constant Maturity Rate + 5.034%) | 6.625% | 1/24/32 | 5040000 | 4182296 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, Junior Subordinated Notes (7.750% to 9/15/23 then USD 5 year ICE Swap Rate + 4.842%) | 7.750% | 9/15/23 | 1130000 | 1106044 | <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, Junior Subordinated Notes (8.000% to 6/15/24 then 5 year Treasury Constant Maturity Rate + 5.672%) | 8.000% | 6/15/24 | 1540000 | 1500123 | <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Bancomer SA, Subordinated Notes (5.125% to 1/17/28 then 5 year Treasury Constant Maturity Rate + 2.650%) | 5.125% | 1/18/33 | 960000 | 863262 | <sup>(a)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA, Junior Subordinated Notes (7.750% to 8/16/29 then 5 year Treasury Constant Maturity Rate + 4.899%) | 7.750% | 8/16/29 | 1470000 | 1455300 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then USD 5 year ICE Swap Rate + 6.185%) | 8.125% | 12/23/25 | 2290000 | 2327098 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings PLC, Subordinated Notes (8.113% to 11/3/32 then SOFR + 4.250%) | 8.113% | 11/3/33 | 1440000 | 1527970 | <sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Subordinated Notes | 5.017% | 6/26/24 | 3120000 | 3001030 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Subordinated Notes | 5.710% | 1/15/26 | 4610000 | 4435254 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Subordinated Notes (4.198% to 6/1/31 then 1 year Treasury Constant Maturity Rate + 2.600%) | 4.198% | 6/1/32 | 750000 | 552559 | <sup>(a)(d)</sup> |

---

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 5

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - (continued)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Notes (6.750% to 6/27/26 then 5 year Treasury Constant Maturity Rate + 4.815%) | 6.750% | 6/27/26 | 2060000 | $1956699 | <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 9/27/25 then USD 5 year ICE Swap Rate + 4.496%) | 7.500% | 9/27/25 | 1840000 | 1779661 | <sup>(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TC Ziraat Bankasi AS, Senior Notes | 5.125% | 9/29/23 | 2040000 | 2025059 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%) | 7.296% | 4/2/34 | 2710000 | 2488731 | <sup>(a)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Banks* |  |  |  | *29201086* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - 3.2%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, Junior Subordinated Notes (5.250% to 8/11/27 then 5 year Treasury Constant Maturity Rate + 4.889%) | 5.250% | 2/11/27 | 7450000 | 4866202 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, Junior Subordinated Notes (6.375% to 8/21/26 then 5 year Treasury Constant Maturity Rate + 4.822%) | 6.375% | 8/21/26 | 1380000 | 992451 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, Junior Subordinated Notes (9.750% to 12/23/27 then 5 year Treasury Constant Maturity Rate + 6.383%) | 9.750% | 6/23/27 | 1730000 | 1511272 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, Senior Notes (6.537% to 8/12/32 then SOFR + 3.920%) | 6.537% | 8/12/33 | 1150000 | 1011878 | <sup>(a)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Subordinated Notes | 6.750% | 10/1/37 | 1880000 | 2013944 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (6.875% to 8/7/25 then USD 5 year ICE Swap Rate + 4.590%) | 6.875% | 8/7/25 | 1220000 | 1195069 | <sup>(b)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%) | 7.000% | 1/31/24 | 1470000 | 1449895 | <sup>(a)(c)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Capital Markets* |  |  |  | *13040711* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Finance - 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navient Corp., Senior Notes | 5.875% | 10/25/24 | 1080000 | 1046844 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navient Corp., Senior Notes | 6.750% | 6/15/26 | 1400000 | 1329352 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Consumer Finance* |  |  |  | *2376196* | |

---

**See Notes to Schedule of Investments.** 

6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Financial Services - 2.6%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE Capital International Funding Co. Unlimited Co., Senior Notes | 3.373% | 11/15/25 | 600000 |  | $574651 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd., Senior Notes (6.500% Cash or 7.250% PIK) | 6.500% | 9/15/24 | 6660102 |  | 5675406 | <sup>(a)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huarong Finance 2017 Co. Ltd., Senior Notes (3 mo. USD LIBOR + 1.325%) | 6.079% | 7/3/23 | 880000 |  | 872576 | <sup>(b)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huarong Finance 2019 Co. Ltd., Senior Notes | 2.500% | 2/24/23 | 1220000 |  | 1210850 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huarong Finance 2019 Co. Ltd., Senior Notes | 2.125% | 9/30/23 | 1090000 |  | 1049127 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huarong Finance II Co. Ltd., Senior Notes | 4.625% | 6/3/26 | 700000 |  | 618625 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huarong Finance II Co. Ltd., Senior Notes | 4.875% | 11/22/26 | 650000 |  | 582005 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Diversified Financial Services* |  |  |  |  | *10583240* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - 0.2%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife Capital Trust IV, Junior Subordinated Notes | 7.875% | 12/15/37 | 1010000 |  | *1093434* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  |  |  |  | 56294667 |  |
| **HEALTH CARE - 6.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care Providers & Services - 3.4%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | 4.750% | 2/15/31 | 1440000 |  | 1048169 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HCA Inc., Senior Notes | 7.690% | 6/15/25 | 490000 |  | 514081 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HCA Inc., Senior Notes | 7.500% | 11/15/95 | 6265000 |  | 6744723 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp., Secured Notes | 6.250% | 2/1/27 | 3910000 |  | 3763531 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp., Senior Notes | 6.125% | 10/1/28 | 1890000 |  | 1696143 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp., Senior Notes | 6.875% | 11/15/31 | 250000 |  | 225617 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Health Care Providers & Services* |  |  |  |  | *13992264* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals - 3.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | 5.250% | 1/30/30 | 3890000 |  | 1872238 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | 5.250% | 2/15/31 | 490000 |  | 238098 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Secured Notes | 4.875% | 6/1/28 | 1020000 |  | 650670 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cidron Aida Finco Sarl, Senior Secured Notes | 5.000% | 4/1/28 | 637000 | <sup>EUR</sup> | 587914 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cidron Aida Finco Sarl, Senior Secured Notes | 6.250% | 4/1/28 | 113000 | <sup>GBP</sup> | 111683 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Par Pharmaceutical Inc., Senior Secured Notes | 7.500% | 4/1/27 | 70000 |  | 53347 | \*<sup>(a)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | 6.000% | 4/15/24 | 3510000 |  | 3447304 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | 3.150% | 10/1/26 | 1150000 |  | 1008010 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | 5.125% | 5/9/29 | 6200000 |  | 5529452 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Pharmaceuticals* |  |  |  |  | *13498716* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL HEALTH CARE** |  |  |  |  | 27490980 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 7

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |  |
| **INDUSTRIALS - 10.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace & Defense - 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | 8.000% | 12/15/25 | 2660000 | $*2705194* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines - 6.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group Inc., Senior Notes | 3.750% | 3/1/25 | 5470000 | 4641721 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes | 5.500% | 4/20/26 | 430000 | 414263 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes | 5.750% | 4/20/29 | 450000 | 412092 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., Senior Notes | 3.800% | 4/19/23 | 4660000 | 4621718 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., Senior Notes | 2.900% | 10/28/24 | 2580000 | 2448441 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., Senior Notes | 7.375% | 1/15/26 | 720000 | 736826 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Inc., Senior Secured Notes | 7.000% | 5/1/25 | 6330000 | 6474631 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual Property Ltd./ HawaiianMiles Loyalty Ltd., Senior Secured Notes | 5.750% | 1/20/26 | 500000 | 453450 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes | 6.500% | 6/20/27 | 2358152 | 2349667 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes | 8.000% | 9/20/25 | 3965999 | 3985710 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes | 8.000% | 9/20/25 | 620000 | 624002 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings Inc., Senior Notes | 5.000% | 2/1/24 | 800000 | 787376 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Airlines* |  |  |  | *27949897* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Products - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Industries Inc., Senior Notes | 5.000% | 2/15/27 | 899000 | 830872 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Industries Inc., Senior Notes | 4.375% | 7/15/30 | 342000 | 279417 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Building Products* |  |  |  | *1110289* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services & Supplies - 1.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | 8.250% | 4/15/26 | 3530000 | 3624922 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | 4.750% | 10/15/27 | 3160000 | 2747679 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GEO Group Inc., Secured Notes | 10.500% | 6/30/28 | 690000 | 701326 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Commercial Services & Supplies* |  |  |  | *7073927* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery - 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titan International Inc., Senior Secured Notes | 7.000% | 4/30/28 | 2580000 | *2439174* | |

---

**See Notes to Schedule of Investments.** 

8 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Trading Companies & Distributors - 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H&E Equipment Services Inc., Senior Notes | 3.875% | 12/15/28 | 1420000 | $1212034 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Notes | 5.500% | 5/15/27 | 376000 | 371800 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Trading Companies & Distributors* |  |  |  | *1583834* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INDUSTRIALS** |  |  |  | 42862315 |  |
| **INFORMATION TECHNOLOGY - 1.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communications Equipment - 0.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CommScope Inc., Senior Notes | 8.250% | 3/1/27 | 1050000 | 815409 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CommScope Inc., Senior Notes | 7.125% | 7/1/28 | 3770000 | 2701182 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Communications Equipment* |  |  |  | *3516591* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology Hardware, Storage & Peripherals - 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate HDD Cayman, Senior Notes | 4.750% | 6/1/23 | 1370000 | 1364684 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate HDD Cayman, Senior Notes | 4.750% | 1/1/25 | 670000 | 652727 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate HDD Cayman, Senior Notes | 4.875% | 6/1/27 | 400000 | 373574 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vericast Corp., Senior Secured Notes | 11.000% | 9/15/26 | 650000 | 695500 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Technology Hardware, Storage & Peripherals* |  |  |  | *3086485* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INFORMATION TECHNOLOGY** |  |  |  | 6603076 |  |
| **MATERIALS - 4.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging - 1.2%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK) | 6.500% | 6/30/27 | 1280000 | 892304 | <sup>(a)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes | 5.250% | 8/15/27 | 2048000 | 1534612 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes | 5.250% | 8/15/27 | 1510000 | 1131476 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pactiv LLC, Senior Notes | 8.375% | 4/15/27 | 750000 | 733508 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV, Senior Notes | 8.500% | 8/15/27 | 980000 | 900723 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Containers & Packaging* |  |  |  | *5192623* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining - 3.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal SA, Senior Notes | 7.000% | 10/15/39 | 2960000 | 3016308 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan Inc., Senior Notes | 3.875% | 3/15/23 | 730000 | 729227 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan Inc., Senior Notes | 5.450% | 3/15/43 | 4280000 | 3870383 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Teck Resources Ltd., Senior Notes | 6.000% | 8/15/40 | 1050000 | 1006388 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vale Overseas Ltd., Senior Notes | 6.875% | 11/21/36 | 2320000 | 2453140 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vale Overseas Ltd., Senior Notes | 6.875% | 11/10/39 | 1500000 | 1584110 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Metals & Mining* |  |  |  | *12659556* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MATERIALS** |  |  |  | 17852179 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 9

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** |  | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| **REAL ESTATE - 2.1%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity Real Estate Investment Trusts (REITs) - 1.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Notes | 4.375 | % | 3/1/31 | 350000 |  | $222446 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | 5.500 | % | 12/15/27 | 2160000 |  | 1862810 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | 3.950 | % | 1/15/28 | 526000 |  | 374287 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | 4.950 | % | 10/1/29 | 600000 |  | 415640 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | 4.375 | % | 2/15/30 | 2120000 |  | 1404148 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Equity Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Equity Real Estate Investment Trusts (REITs)* |  |  |  |  | *4279331* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Management & Development - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Management & Development - 1.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Secured Notes | 7.950 | % | 2/19/23 | 770000 |  | 66605 | \*<sup>(b)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Secured Notes | 7.950 | % | 6/21/24 | 1000000 |  | 84500 | \*<sup>(b)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd., Senior Secured Notes | 8.000 | % | 1/27/24 | 2016000 |  | 1562709 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Heimstaden AB, Senior Notes | 4.250 | % | 3/9/26 | 900000 | <sup>EUR</sup> | 686204 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samhallsbyggnadsbolaget i Norden AB, Senior Notes | 1.125 | % | 9/4/26 | 1780000 | <sup>EUR</sup> | 1420667 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Times China Holdings Ltd., Senior Secured Notes | 6.750 | % | 7/8/25 | 1230000 |  | 213950 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., Senior Secured Notes | 6.000 | % | 10/25/23 | 650000 |  | 58793 | \*<sup>(b)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., Senior Secured Notes | 8.500 | % | 2/26/24 | 750000 |  | 69097 | \*<sup>(b)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., Senior Secured Notes | 8.375 | % | 10/30/24 | 1250000 |  | 113062 | \*<sup>(b)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Real Estate Management & Development* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Real Estate Management & Development* |  |  |  |  | *4275587* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** |  |  |  |  | 8554918 |  |
| **UTILITIES - 0.9%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities - 0.2%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; InterGen NV, Senior Secured Notes | 7.000 | % | 6/30/23 | 420000 |  | 408307 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pampa Energia SA, Senior Notes | 7.500 | % | 1/24/27 | 340000 |  | 311661 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electric Utilities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Electric Utilities* |  |  |  |  | *719968* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gas Utilities - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gas Utilities - 0.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior Notes | 5.875 | % | 3/1/27 | 3290000 |  | *3147562* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL UTILITIES** |  |  |  |  |  | 3867530 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $366,567,470) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $366,567,470) |  |  |  |  | 368471987 |  |

---

**See Notes to Schedule of Investments.** 

10 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| **SOVEREIGN BONDS - 4.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Angola - 0.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Angolan Government International Bond, Senior Notes | 8.000% | 11/26/29 | 1600000 |  | $*1408448* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Argentina - 0.8%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, Senior Notes, Step bond (1.500% to 7/9/23 then 3.625%) | 1.500% | 7/9/35 | 160362 |  | 41076 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provincia de Buenos Aires, Senior Notes, Step bond (5.250% to 9/1/23 then 6.375%) | 5.250% | 9/1/37 | 80000 |  | 27900 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provincia de Buenos Aires/Government Bonds, Senior Notes, Step bond (4.500% to 9/1/23 then 5.500%) | 4.500% | 9/1/37 | 296221 |  | 85534 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | 6.875% | 12/10/25 | 910000 |  | 738237 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | 6.875% | 12/10/25 | 500000 |  | 405625 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | 6.990% | 6/1/27 | 2660000 |  | 1782200 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes (6.875% PIK) | 6.875% | 2/1/29 | 340000 |  | 221000 | <sup>(a)(e)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Argentina* |  |  |  |  | *3301572* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Bahamas - 0.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bahamas Government International Bond, Senior Notes | 6.950% | 11/20/29 | 1630000 |  | *1245165* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dominican Republic - 0.2%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominican Republic International Bond, Senior Notes | 4.875% | 9/23/32 | 1090000 |  | *908854* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ecuador - 0.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecuador Government International Bond, Senior Notes, Step bond (2.500% to 7/31/23 then 3.500%) | 2.500% | 7/31/35 | 400000 |  | *185895* | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mexico - 1.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexican Bonos, Bonds | 7.750% | 5/29/31 | 149470000 | <sup>MXN</sup> | *7103900* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Russia - 0.6%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russian Federal Bond - OFZ | 7.750% | 9/16/26 | 315370000 | <sup>RUB</sup> | 1154575 | \*<sup>(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russian Federal Bond - OFZ | 7.050% | 1/19/28 | 198450000 | <sup>RUB</sup> | 726529 | \*<sup>(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russian Federal Bond - OFZ | 6.900% | 5/23/29 | 121280000 | <sup>RUB</sup> | 444008 | \*<sup>(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Russia* |  |  |  |  | *2325112* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br> (Cost - $22,024,570) |  |  |  |  | 16478946 |  |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS - 1.9%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **U.S. Government Obligations - 1.9%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 1.500% | 2/29/24 | 1700000 |  | 1639404 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 3.500% | 9/15/25 | 2500000 |  | 2450391 |  |

---

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 11

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **U.S. Government Obligations - (continued)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 2.250% | 11/15/25 | 1000000 | $946719 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 1.875% | 2/28/27 | 2500000 | 2290039 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 2.750% | 7/31/27 | 500000 | 473125 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS**<br> (Cost - $7,817,980) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS**<br> (Cost - $7,817,980) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS**<br> (Cost - $7,817,980) |  | 7799678 |  |
| **CONVERTIBLE BONDS & NOTES - 1.5%** |  |  |  |  |  |
| **COMMUNICATION SERVICES - 1.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - 1.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Notes | 2.375% | 3/15/24 | 540000 | 488565 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Notes | 0.000% | 12/15/25 | 5350000 | 3440050 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Notes | 3.375% | 8/15/26 | 1050000 | 660450 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMUNICATION SERVICES** |  |  |  | 4589065 |  |
| **INDUSTRIALS - 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines - 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit Airlines Inc., Senior Notes | 1.000% | 5/15/26 | 1920000 | 1555200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONVERTIBLE BONDS & NOTES**<br> (Cost - $6,588,944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONVERTIBLE BONDS & NOTES**<br> (Cost - $6,588,944) |  |  | 6144265 |  |
| **ASSET-BACKED SECURITIES - 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnetite Ltd., 2015-12A ER (3 mo. USD LIBOR + 5.680%) (Cost - $3,360,508) | 9.759% | 10/15/31 | 3400000 | 3019935 | <sup>(a)(d)</sup> |
| **SENIOR LOANS - 0.3%** |  |  |  |  |  |
| **CONSUMER DISCRETIONARY - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Consumer Services - 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WW International Inc., Initial Term Loan (1 mo. USD LIBOR + 3.500%)<br> (Cost - $1,609,635) | 7.890% | 4/13/28 | 2150000 | 1241625 | <sup>(d)(g)(h)</sup> |
|  |  | **EXPIRATION<br>DATE** | **WARRANTS** |  |  |
| **WARRANTS - 0.0%††** |  |  |  |  |  |
| **FINANCIALS - 0.0%††** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - 0.0%††** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EG Acquisition Corp., Class A Shares<br>(Cost - $20,515) |  | 5/28/28 | 21426 | 4135 | \* |
|  |  |  | **SHARES** |  |  |
| **COMMON STOCKS - 0.0%††** |  |  |  |  |  |
| **ENERGY - 0.0%††** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy Equipment & Services - 0.0%††** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KCAD Holdings I Ltd.<br>(Cost - $3,494,813) |  |  | 427421041 | 0 | \*<sup>(i)(j)(k)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $411,484,435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $411,484,435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $411,484,435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $411,484,435) | 403160571 |  |

---

**See Notes to Schedule of Investments.** 

12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)**<br>| **December 31, 2022** |
| (Percentages shown based on Fund net assets) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **SHARES** | **VALUE** |
| **SHORT-TERM INVESTMENTS - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium Shares<br>(Cost - $941,740) | 4.244% | 941740 | $941740 <sup>(l)(m)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 98.4%**<br> (Cost - $412,426,175) |  |  | 404102311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities - 1.6% |  |  | 6758482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  | $410860793 |

---

† Face amount denominated in U.S. dollars, unless otherwise noted.

---

| | |
|:---|:---|
| †† | Represents less than 0.1%.  |

---

\* Non-income producing security.

(a) Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold
in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(b) Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to
securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(c) Security has no maturity date. The date shown represents the next call date.

(d) Variable rate security. Interest rate disclosed is as of the most recent information available. Certain
variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description
above.

(e) Payment-in-kind security for
which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.

(f) The coupon payment on this security is currently in default as of December 31, 2022.

(g) Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are
attributable to multiple contracts under the same loan.

(h) Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive
approval from the agent bank and/or borrower prior to the disposition of a senior loan.

(i) Security is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1).

(j) Security is valued using significant unobservable inputs (Note 1).

(k) Value is less than $1.

(l) Rate shown is one-day yield as of the end of the reporting period.

(m) In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company"
represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At December 31, 2022, the total market value of investments in Affiliated
Companies was $941,740 and the cost was $941,740 (Note 2).

**See Notes to Schedule of Investments.** 

Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report 13

------

**WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **December 31, 2022** |

---

<u>Abbreviation(s) used in this schedule:</u> 

---

| | |
|:---|:---|
| EUR | — Euro |
| GBP | — British Pound |
| ICE | — Intercontinental Exchange |
| LIBOR | — London Interbank Offered Rate |
| MXN | — Mexican Peso |
| OFZ | — Obligatsyi Federal'novo Zaima (Russian Federal Loan Obligation) |
| PIK | — Payment-In-Kind |
| RUB | — Russian Ruble |
| SOFR | — Secured Overnight Financing Rate |
| USD | — United States Dollar |

---

At December 31, 2022, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency**<br>**Purchased** | **Currency**<br>**Purchased** | **Currency**<br>**Sold** | **Currency**<br>**Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| GBP | 223807 | USD | 269761 | Goldman Sachs Group Inc. | 1/18/23 | $952 |
| USD | 627539 | EUR | 587476 | Goldman Sachs Group Inc. | 1/18/23 | (2167) |
| USD | 6484203 | GBP | 5634395 | Goldman Sachs Group Inc. | 1/18/23 | (331074) |
| USD | 398762 | EUR | 377251 | JPMorgan Chase & Co. | 1/18/23 | (5606) |
| USD | 612762 | EUR | 620000 | JPMorgan Chase & Co. | 1/18/23 | (51806) |
| CAD | 470 | USD | 344 | Morgan Stanley & Co. Inc. | 1/18/23 | 3 |
| USD | 186495 | EUR | 177313 | Morgan Stanley & Co. Inc. | 1/18/23 | (3564) |
| USD | 720529 | EUR | 674480 | Morgan Stanley & Co. Inc. | 1/18/23 | (2435) |
| USD | 4923765 | EUR | 4900537 | Morgan Stanley & Co. Inc. | 1/18/23 | (329038) |
| Total |  |  |  |  |  | $(724735) |

---

<u>Abbreviation(s) used in this table:</u> 

---

| | |
|:---|:---|
| CAD | — Canadian Dollar |
| EUR | — Euro |
| GBP | — British Pound |
| USD | — United States Dollar |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

**See Notes to Schedule of Investments.** 

14 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Asset High Income Opportunity Fund Inc. 2022 Quarterly Report

------

**Notes to Schedule of Investments (unaudited)** 

**1. Organization and significant accounting policies** 

Western Asset High Income Opportunity Fund Inc. (the "Fund") was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund seeks high current income. Capital appreciation is a secondary objective. In seeking to fulfill its investment objectives, the Fund invests, under normal market conditions, at least 80% of its net assets in high-yield securities and up to 20% in common stock equivalents, including options, warrants and rights.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Directors.

<br>15<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

Pursuant to policies adopted by the Board of Directors, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

<br>16<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – unadjusted quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – other significant observable inputs (including quoted prices for similar investments,
interest rates, prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the
fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets and liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS<br>(LEVEL 3)** | **TOTAL** |
|  Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes |  | $368471987 |  | $368471987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovereign Bonds |  | 16478946 |  | 16478946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government & Agency Obligations |  | 7799678 |  | 7799678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds & Notes |  | 6144265 |  | 6144265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities |  | 3019935 |  | 3019935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Loans |  | 1241625 |  | 1241625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants | $4135 |  |  | 4135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks |  |  | $0 \* | 0 \* |
|  Total Long-Term Investments | 4135 | 403156436 | 0 \* | 403160571 |
|  Short-Term Investments† | 941740 |  |  | 941740 |
|  Total Investments | $945875 | $403156436 |  | $404102311 |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $955 |  | $955 |
|  Total | $945875 | $403157391 | $0 \* | $404103266 |

---

<br>17<br>

------

**Notes to Schedule of Investments (unaudited) (cont'd)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** |
| **DESCRIPTION** | **QUOTED PRICES**<br>**(LEVEL 1)** | **OTHER SIGNIFICANT**<br>**OBSERVABLE INPUTS**<br>**(LEVEL 2)** | **SIGNIFICANT**<br>**UNOBSERVABLE**<br>**INPUTS**<br>**(LEVEL 3)** | **TOTAL** |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $725690 |  | $725690 |

---

† See Schedule of Investments for additional detailed categorizations.

\* Amount represents less than $1. 

†† Reflects the unrealized appreciation (depreciation) of the instruments.

**2. Transactions with affiliated company** 

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended December 31, 2022. The following transactions were effected in such company for the period ended December 31, 2022.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Affiliate<br>Value at<br>September 30,**<br>**2022** | **Purchased** | **Purchased** | **Sold** | **Sold** | **Realized**<br>**Gain (Loss)** | **Dividend**<br>**Income** | **Net Increase<br>(Decrease) in<br>Unrealized<br>Appreciation**<br>**(Depreciation)** | **Affiliate<br>Value at<br>December 31,**<br>**2022** |
| | **Affiliate<br>Value at<br>September 30,**<br>**2022** | **Cost** | **Shares** | **Proceeds** | **Shares** | **Realized**<br>**Gain (Loss)** | **Dividend**<br>**Income** | **Net Increase<br>(Decrease) in<br>Unrealized<br>Appreciation**<br>**(Depreciation)** | **Affiliate<br>Value at<br>December 31,**<br>**2022** |
| Western Asset Premier Institutional Government Reserves, Premium Shares | $2535492 | $21575909 | 21575909 | $23169661 | 23169661 |  | $16572 |  | $941740 |

---

<br>18<br>

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset High Income Opportunity Fund Inc.

- **b. Investment Company Act file number:** 811-07920

- **c. CIK number of Registrant:** 0000910068

- **d. LEI of Registrant:** 549300S7N70O2ERKYG47

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

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-888-777-0102

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

- **a. Name of Series:** Western Asset High Income Opportunity Fund Inc.

- **c. LEI of Series:** 549300S7N70O2ERKYG47

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $413929974.02

**Total Liabilities:** $3068690.45

**Net Assets:** $410861283.57

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 79.47000000 | **1-Year:** 2566.64000000 | **5-Year:** 8138.83000000 | **10-Year:** 16688.05000000 | **30-Year:** 429.16000000

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

- **3-Month:** 328.41000000 | **1-Year:** 27871.29000000 | **5-Year:** 73369.47000000 | **10-Year:** 43192.25000000 | **30-Year:** 3606.92000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 3.79%                | 7.92%                | -1.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5664706.11             | $12005422.84                               |
| Month 2  | $-1532797.63             | $11287244.89                               |
| Month 3  | $-2281984.60             | $-3180587.91                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BELLIS FINCO PLC                                        | Bellis Finco PLC                                                          | CUSIP: 000000000<br>LEI: 259400ELWH6Z4ICFTD70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $894328.02    | 0.22%             | 2027-02-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                 | Goldman Sachs Group Inc/The                                               | CUSIP: 38141GFD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $2013944.13   | 0.49%             | 2037-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP                                        | IRB Holding Corp                                                          | CUSIP: 44988MAC9<br>LEI: 549300HVW4WNWYBXN830 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1228831.50   | 0.30%             | 2025-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                           | DISH DBS Corp                                                             | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5580000 | PA      | $4511151.00   | 1.10%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                | American Airlines Inc/AAdvantage Loyalty IP Ltd                           | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    430000 | PA      | $414262.65    | 0.10%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                   | Argentine Republic Government International Bond                          | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    160362 | PA      | $41076.03     | 0.01%             | 2035-07-09      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                | Rockies Express Pipeline LLC                                              | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $960553.71    | 0.23%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                  | Williams Cos Inc/The                                                      | CUSIP: 969457BW9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1019325.42   | 0.25%             | 2024-06-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                | Petrobras Global Finance BV                                               | CUSIP: 71647NAZ2<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    660000 | PA      | $642021.60    | 0.16%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                    | Las Vegas Sands Corp                                                      | CUSIP: 517834AF4<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    750000 | PA      | $633328.07    | 0.15%             | 2029-08-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EG ACQUISITION CORP-A                                   | EG ACQUISITION CORP-A -CW28                                               | CUSIP: 26846A118<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21426 | NS      | $4135.22      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                                     | Intesa Sanpaolo SpA                                                       | CUSIP: 46115HBQ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    750000 | PA      | $552558.60    | 0.13%             | 2032-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES GROUP                                 | American Airlines Group Inc                                               | CUSIP: 02376RAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5470000 | PA      | $4641720.57   | 1.13%             | 2025-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                     | Delta Air Lines Inc                                                       | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    720000 | PA      | $736826.40    | 0.18%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                            | Barclays PLC                                                              | CUSIP: 06738EBG9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1540000 | PA      | $1500122.84   | 0.37%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                          | VOC Escrow Ltd                                                            | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    140000 | PA      | $120635.20    | 0.03%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                       | GEO Group Inc/The                                                         | CUSIP: 36162JAC0<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    690000 | PA      | $701326.35    | 0.17%             | 2028-06-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                                 | Bahamas Government International Bond                                     | CUSIP: 056732AG5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |   1630000 | PA      | $1245164.40   | 0.30%             | 2029-11-20      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                                | Sally Holdings LLC / Sally Capital Inc                                    | CUSIP: 79546VAL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1534143.30   | 0.37%             | 2025-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| APCOA PARKING HOLDINGS G                                | APCOA Parking Holdings GmbH                                               | CUSIP: 000000000<br>LEI: 529900H8FIYAOV5FUW68 | Long             | DBT              | CORP              | DE        |   1010000 | PA      | $933553.13    | 0.23%             | 2027-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FAGE INTL / FAGE USA                                    | FAGE International SA / FAGE USA Dairy Industry Inc                       | CUSIP: 30257WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   1550000 | PA      | $1440291.00   | 0.35%             | 2026-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                   | Bausch Health Cos Inc                                                     | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   3890000 | PA      | $1872237.55   | 0.46%             | 2030-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                           | DISH DBS Corp                                                             | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1196922.25   | 0.29%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                                  | JB Poindexter & Co Inc                                                    | CUSIP: 730481AJ7<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   5196000 | PA      | $5022349.68   | 1.22%             | 2026-04-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                                 | Standard Industries Inc/NJ                                                | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    342000 | PA      | $279417.27    | 0.07%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                  | Match Group Holdings II LLC                                               | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    360000 | PA      | $276539.04    | 0.07%             | 2031-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                                | United Airlines Holdings Inc                                              | CUSIP: 910047AH2<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |    800000 | PA      | $787376.00    | 0.19%             | 2024-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                          | Wynn Macau Ltd                                                            | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   2470000 | PA      | $2115048.65   | 0.51%             | 2028-08-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                        | CUSIP: 29273VAL4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2130000 | PA      | $1850437.50   | 0.45%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES INC                                     | Spirit Airlines Inc                                                       | CUSIP: 848577AB8<br>LEI: 549300DCAFIXFNFR3304 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1555200.00   | 0.38%             | 2026-05-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                           | Carnival Corp                                                             | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   3750000 | PA      | $2978867.70   | 0.73%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                    | Country Garden Holdings Co Ltd                                            | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |   2016000 | PA      | $1562709.25   | 0.38%             | 2024-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                                      | Telecom Italia SpA/Milano                                                 | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |   2020000 | PA      | $1917990.00   | 0.47%             | 2024-05-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                        | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   3550000 | PA      | $2649187.50   | 0.64%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| STONEMOR INC                                            | StoneMor Inc                                                              | CUSIP: 86184WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6350000 | PA      | $5088255.00   | 1.24%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                 | Teva Pharmaceutical Finance Netherlands III BV                            | CUSIP: 88167AAL5<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   3510000 | PA      | $3447303.99   | 0.84%             | 2024-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                  | Adient Global Holdings Ltd                                                | CUSIP: 00687YAA3<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   3529000 | PA      | $3290580.76   | 0.80%             | 2026-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                     | NCL Corp Ltd                                                              | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   5051000 | PA      | $3807645.84   | 0.93%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                       | DISH Network Corp                                                         | CUSIP: 25470MAB5<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $660450.00    | 0.16%             | 2026-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                       | Magnetite XII Ltd                                                         | CUSIP: 55953GCG8<br>LEI: 549300Z6VW568TT64K70 | Long             | ABS-CBDO         | CORP              | KY        |   3400000 | PA      | $3019934.55   | 0.74%             | 2031-10-15      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                                | EQM Midstream Partners LP                                                 | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    230000 | PA      | $188474.65    | 0.05%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                 | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2166.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORP                               | OCCIDENTAL PETROLEUM CORP                                                 | CUSIP: 674599DC6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    750000 | PA      | $748410.00    | 0.18%             | 2026-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                                | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                          | CUSIP: 84859BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   3965999 | PA      | $3985710.02   | 0.97%             | 2025-09-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| 888 ACQUISITIONS LTD                                    | 888 Acquisitions Ltd                                                      | CUSIP: 000000000<br>LEI: 254900RFD0BP3JOPZU89 | Long             | DBT              | CORP              | GI        |   2600000 | PA      | $2400495.26   | 0.58%             | 2027-07-15      | Fixed         | 7.56%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                    | Range Resources Corp                                                      | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    620000 | PA      | $639709.80    | 0.16%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                            | UBS Group AG                                                              | CUSIP: 90352JAF0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1470000 | PA      | $1449895.34   | 0.35%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                             | BNP Paribas SA                                                            | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1470000 | PA      | $1455300.00   | 0.35%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                       | Service Corp International/US                                             | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $2028924.85   | 0.49%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                | Service Properties Trust                                                  | CUSIP: 44106MAX0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    526000 | PA      | $374286.75    | 0.09%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CIDRON AIDA FINCO SARL                                  | Cidron Aida Finco Sarl                                                    | CUSIP: 000000000<br>LEI: 98450036A07991DEBF10 | Long             | DBT              | CORP              | LU        |    113000 | PA      | $111683.19    | 0.03%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SPRINT CAPITAL CORP                                     | Sprint Capital Corp                                                       | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   5910000 | PA      | $7046818.05   | 1.72%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                    | Freeport-McMoRan Inc                                                      | CUSIP: 35671DBC8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   4280000 | PA      | $3870382.60   | 0.94%             | 2043-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                | Western Midstream Operating LP                                            | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $881682.00    | 0.21%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                                | PetSmart Inc / PetSmart Finance Corp                                      | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $470533.75    | 0.11%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                  | Credit Suisse Group AG                                                    | CUSIP: 225401AZ1<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   1150000 | PA      | $1011878.08   | 0.25%             | 2033-08-12      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| HUARONG FINANCE II                                      | Huarong Finance II Co Ltd                                                 | CUSIP: 000000000<br>LEI: 549300BHVD63HE2GHX17 | Long             | DBT              | CORP              | VG        |    650000 | PA      | $582004.72    | 0.14%             | 2026-11-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                | Provincia de Buenos Aires/Government Bonds                                | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |    296221 | PA      | $85533.81     | 0.02%             | 2037-09-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                       | Kinder Morgan Inc                                                         | CUSIP: 28368EAE6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   6920000 | PA      | $7802548.64   | 1.90%             | 2032-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                    | Provincia de Cordoba                                                      | CUSIP: 74408DAD6<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |   2660000 | PA      | $1782200.00   | 0.43%             | 2027-06-01      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                    | Michaels Cos Inc/The                                                      | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   3480000 | PA      | $2331420.01   | 0.57%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                  | Credit Suisse Group AG                                                    | CUSIP: 225401AR9<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   7450000 | PA      | $4866201.95   | 1.18%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                        | CSC Holdings LLC                                                          | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  12350000 | PA      | $6916000.00   | 1.68%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                           | CommScope Inc                                                             | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $815409.00    | 0.20%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                          | ARD Finance SA                                                            | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   1280000 | PA      | $892303.95    | 0.22%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                | Western Midstream Operating LP                                            | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   9585000 | PA      | $7913136.38   | 1.93%             | 2050-02-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                 | HCA Inc                                                                   | CUSIP: 197677AG2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    490000 | PA      | $514081.28    | 0.13%             | 2025-06-15      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                | Petrobras Global Finance BV                                               | CUSIP: 71645WAS0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |   5120000 | PA      | $4788082.84   | 1.17%             | 2041-01-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                 | Royal Caribbean Cruises Ltd                                               | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1840000 | PA      | $1471668.80   | 0.36%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                    | Range Resources Corp                                                      | CUSIP: 75281AAS8<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    790000 | PA      | $751711.13    | 0.18%             | 2025-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HUARONG FINANCE 2019                                    | Huarong Finance 2019 Co Ltd                                               | CUSIP: 000000000<br>LEI: 549300M6T6OW4AGYHK10 | Long             | DBT              | CORP              | VG        |   1090000 | PA      | $1049127.20   | 0.26%             | 2023-09-30      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                        | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4103750.00   | 1.00%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                | Occidental Petroleum Corp                                                 | CUSIP: 674599CW3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1276015.57   | 0.31%             | 2024-08-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                            | Barclays PLC                                                              | CUSIP: 06738EBA2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1130000 | PA      | $1106044.00   | 0.27%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                                | Viking Ocean Cruises Ship VII Ltd                                         | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1800000 | PA      | $1451340.00   | 0.35%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                           | CommScope Inc                                                             | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $2701181.66   | 0.66%             | 2028-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                                   | Continental Resources Inc/OK                                              | CUSIP: 212015AQ4<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $780279.85    | 0.19%             | 2044-06-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                   | Melco Resorts Finance Ltd                                                 | CUSIP: 58547DAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2007000 | PA      | $1613808.63   | 0.39%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | USD/CAD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2.97         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SAGA PLC                                                | Saga PLC                                                                  | CUSIP: 000000000<br>LEI: 2138004WWUJN94K2LH95 | Long             | DBT              | CORP              | GB        |   1310000 | PA      | $1429113.40   | 0.35%             | 2024-05-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                | CHS/Community Health Systems Inc                                          | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1440000 | PA      | $1048168.80   | 0.26%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                                            | Yuzhou Group Holdings Co Ltd                                              | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    650000 | PA      | $58792.50     | 0.01%             | 2023-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TECK RESOURCES LIMITED                                  | Teck Resources Ltd                                                        | CUSIP: 878742AS4<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | DBT              | CORP              | CA        |   1050000 | PA      | $1006387.97   | 0.24%             | 2040-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                | Altice France Holding SA                                                  | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   4970000 | PA      | $3800310.50   | 0.92%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                   | Tenet Healthcare Corp                                                     | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3910000 | PA      | $3763531.40   | 0.92%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSPORT DE GAS DEL SUR                                | Transportadora de Gas del Sur SA                                          | CUSIP: 893870AX3<br>LEI: 5299002TRC7IFQYSW596 | Long             | DBT              | CORP              | AR        |   1620000 | PA      | $1503659.76   | 0.37%             | 2025-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                 | HCA Inc                                                                   | CUSIP: 197677AH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   6265000 | PA      | $6744723.14   | 1.64%             | 2095-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                                 | Standard Industries Inc/NJ                                                | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    899000 | PA      | $830872.04    | 0.20%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                    | WW International Inc                                                      | CUSIP: 92941PAC7<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |   2150000 | PA      | $1241625.00   | 0.30%             | 2028-04-13      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                  | Credit Suisse Group AG                                                    | CUSIP: 225401AL2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   1380000 | PA      | $992451.08    | 0.24%             | N/A             | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HUARONG FINANCE 2017 CO                                 | Huarong Finance 2017 Co Ltd                                               | CUSIP: 000000000<br>LEI: 5493006V07LYI3HE6G83 | Long             | DBT              | CORP              | VG        |    880000 | PA      | $872575.49    | 0.21%             | 2023-07-03      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| NCL FINANCE LTD                                         | NCL Finance Ltd                                                           | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   4540000 | PA      | $3357199.84   | 0.82%             | 2028-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TC ZIRAAT BANKASI AS                                    | TC Ziraat Bankasi AS                                                      | CUSIP: 90014TAC5<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |   2040000 | PA      | $2025059.04   | 0.49%             | 2023-09-29      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| METLIFE CAPITAL TRUST IV                                | MetLife Capital Trust IV                                                  | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1093433.93   | 0.27%             | 2037-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                  | China Aoyuan Group Ltd                                                    | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $84500.00     | 0.02%             | 2024-06-21      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                      | Angolan Government International Bond                                     | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1600000 | PA      | $1408448.00   | 0.34%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                       | DISH Network Corp                                                         | CUSIP: 25470MAD1<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    540000 | PA      | $488565.00    | 0.12%             | 2024-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                   | Tenet Healthcare Corp                                                     | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1696142.70   | 0.41%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                | Altice France Holding SA                                                  | CUSIP: 02156TAA2<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   1380000 | PA      | $817569.57    | 0.20%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                        | Altice France SA/France                                                   | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1052139.47   | 0.26%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                    | Provincia de Cordoba                                                      | CUSIP: 000000000<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    910000 | PA      | $738237.50    | 0.18%             | 2025-12-10      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                                  | BBVA Bancomer SA/Texas                                                    | CUSIP: 05533UAF5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    960000 | PA      | $863262.22    | 0.21%             | 2033-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                   | Vale Overseas Ltd                                                         | CUSIP: 91911TAH6<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |   2320000 | PA      | $2453140.16   | 0.60%             | 2036-11-21      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                      | Dominican Republic International Bond                                     | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1090000 | PA      | $908854.06    | 0.22%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                           | CoreCivic Inc                                                             | CUSIP: 21871NAB7<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3624921.70   | 0.88%             | 2026-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                                           | UniCredit SpA                                                             | CUSIP: 904678AQ2<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   2710000 | PA      | $2488730.80   | 0.61%             | 2034-04-02      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                       | HSBC Holdings PLC                                                         | CUSIP: 404280DS5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1440000 | PA      | $1527969.80   | 0.37%             | 2033-11-03      | Fixed         | 8.11%                 | No            |                  2 | On Loan: No      |
| NGPL PIPECO LLC                                         | NGPL PipeCo LLC                                                           | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1588396.94   | 0.39%             | 2037-12-15      | Fixed         | 7.77%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                  | Williams Cos Inc/The                                                      | CUSIP: 969457BB5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    620000 | PA      | $680651.46    | 0.17%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                            | Navient Corp                                                              | CUSIP: 63938CAB4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1046844.24   | 0.25%             | 2024-10-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                  | Credit Suisse Group AG                                                    | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   1730000 | PA      | $1511271.55   | 0.37%             | N/A             | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                                  | H&E Equipment Services Inc                                                | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1212033.90   | 0.29%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                                 | Global Aircraft Leasing Co Ltd                                            | CUSIP: 37960JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   6660102 | PA      | $5675405.92   | 1.38%             | 2024-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                | Targa Resources Partners LP / Targa Resources Partners Finance Corp       | CUSIP: 87612BBL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    670000 | PA      | $675339.87    | 0.16%             | 2027-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                           | DISH DBS Corp                                                             | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3573000 | PA      | $3327513.07   | 0.81%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                | Diversified Healthcare Trust                                              | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $222445.58    | 0.05%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                                | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                          | CUSIP: 84859BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    620000 | PA      | $624002.10    | 0.15%             | 2025-09-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                | Lloyds Banking Group PLC                                                  | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2060000 | PA      | $1956698.73   | 0.48%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5999.16     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                  | CCO Holdings LLC / CCO Holdings Capital Corp                              | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18480000 | PA      | $13675200.00  | 3.33%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                         | United States Treasury Note/Bond                                          | CUSIP: 91282CEC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2290039.05   | 0.56%             | 2027-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                     | NCL Corp Ltd                                                              | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $393600.00    | 0.10%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                 | United Rentals North America Inc                                          | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    376000 | PA      | $371800.08    | 0.09%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                            | UBS Group AG                                                              | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1220000 | PA      | $1195069.30   | 0.29%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                           | CoreCivic Inc                                                             | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   3160000 | PA      | $2747678.81   | 0.67%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                | Service Properties Trust                                                  | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    600000 | PA      | $415640.17    | 0.10%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SAGA PLC                                                | Saga PLC                                                                  | CUSIP: 000000000<br>LEI: 2138004WWUJN94K2LH95 | Long             | DBT              | CORP              | GB        |    790000 | PA      | $716302.87    | 0.17%             | 2026-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                    | Freeport-McMoRan Inc                                                      | CUSIP: 35671DAZ8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    730000 | PA      | $729226.78    | 0.18%             | 2023-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                     | Altice Financing SA                                                       | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   2140000 | PA      | $1687257.04   | 0.41%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                 | American Axle & Manufacturing Inc                                         | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   5293000 | PA      | $4782558.59   | 1.16%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                | Service Properties Trust                                                  | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2160000 | PA      | $1862809.92   | 0.45%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                     | Intesa Sanpaolo SpA                                                       | CUSIP: 46115HAT4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   3120000 | PA      | $3001030.19   | 0.73%             | 2024-06-26      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                                  | Full House Resorts Inc                                                    | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1267780.80   | 0.31%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                     | Intesa Sanpaolo SpA                                                       | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   4610000 | PA      | $4435254.58   | 1.08%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                                | Suburban Propane Partners LP/Suburban Energy Finance Corp                 | CUSIP: 864486AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3290000 | PA      | $3147562.35   | 0.77%             | 2027-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                          | Wynn Macau Ltd                                                            | CUSIP: 98313RAE6<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   2174000 | PA      | $1762516.15   | 0.43%             | 2029-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                    | Provincia de Cordoba                                                      | CUSIP: 74408DAC8<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    500000 | PA      | $405625.00    | 0.10%             | 2025-12-10      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDI                                        | Ford Motor Credit Co LLC                                                  | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    520000 | PA      | $409166.21    | 0.10%             | 2031-06-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                 | Mexican Bonos                                                             | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        | 149470000 | PA      | $7103899.92   | 1.73%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                 | VZ Secured Financing BV                                                   | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    680000 | PA      | $553813.36    | 0.13%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                | Clear Channel Outdoor Holdings Inc                                        | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1140000 | PA      | $839205.30    | 0.20%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                | Banco Mercantil del Norte SA/Grand Cayman                                 | CUSIP: 05973KAB3<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   5040000 | PA      | $4182295.98   | 1.02%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                   | Vale Overseas Ltd                                                         | CUSIP: 91911TAK9<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |   1500000 | PA      | $1584110.30   | 0.39%             | 2039-11-10      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                    | Las Vegas Sands Corp                                                      | CUSIP: 517834AG2<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    900000 | PA      | $851210.06    | 0.21%             | 2024-08-08      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                                   | Continental Resources Inc/OK                                              | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    220000 | PA      | $201935.80    | 0.05%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                    | Provincia de Cordoba                                                      | CUSIP: 74408DAE4<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    340000 | PA      | $221000.00    | 0.05%             | 2029-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                                | EQM Midstream Partners LP                                                 | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    780000 | PA      | $752622.00    | 0.18%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RUSSIA GOVT BOND - OFZ                                  | Russian Federal Bond - OFZ                                                | CUSIP: 000000000<br>LEI: 5493004EHVGF71PDBU58 | Long             | DBT              | NUSS              | RU        | 315370000 | PA      | $1154574.92   | 0.28%             | 2026-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| INTERGEN NV                                             | InterGen NV                                                               | CUSIP: 45867XAG9<br>LEI: 549300E3XRGX2JMPEC79 | Long             | DBT              | CORP              | NL        |    420000 | PA      | $408306.72    | 0.10%             | 2023-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL                                           | ArcelorMittal SA                                                          | CUSIP: 03938LAP9<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |   2960000 | PA      | $3016308.11   | 0.73%             | 2039-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                                | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2358152 | PA      | $2349666.99   | 0.57%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                | EQT Corp                                                                  | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   1440000 | PA      | $1332525.95   | 0.32%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| KCAD HOLDINGS I LIMITED                                 | KCAD HOLDINGS I LIMITED                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        | 427421041 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SAMHALLSBYGGNADSBOLAGET                                 | Samhallsbyggnadsbolaget i Norden AB                                       | CUSIP: 000000000<br>LEI: 549300HX9MRFY47AH564 | Long             | DBT              | CORP              | SE        |   1780000 | PA      | $1420666.99   | 0.35%             | 2026-09-04      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                         | Sands China Ltd                                                           | CUSIP: 80007RAL9<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1470000 | PA      | $1293805.80   | 0.31%             | 2030-06-18      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN AB                                           | Heimstaden AB                                                             | CUSIP: 000000000<br>LEI: 549300WD2QBD89VBPV88 | Long             | DBT              | CORP              | SE        |    900000 | PA      | $686204.10    | 0.17%             | 2026-03-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                      | Credit Agricole SA                                                        | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   2290000 | PA      | $2327098.00   | 0.57%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PACTIV LLC                                              | Pactiv LLC                                                                | CUSIP: 880394AE1<br>LEI: 549300O4WTC6DL4JIE57 | Long             | DBT              | CORP              | US        |    750000 | PA      | $733508.15    | 0.18%             | 2027-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                   | Bausch Health Cos Inc                                                     | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1020000 | PA      | $650670.07    | 0.16%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                     | Delta Air Lines Inc                                                       | CUSIP: 247361ZX9<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   6330000 | PA      | $6474630.44   | 1.58%             | 2025-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SUNNOVA ENERGY CORP                                     | Sunnova Energy Corp                                                       | CUSIP: 86745GAF0<br>LEI: 549300TH3GCD8YQUDR46 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1789280.00   | 0.44%             | 2026-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                     | Delta Air Lines Inc                                                       | CUSIP: 247361ZU5<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   2580000 | PA      | $2448441.31   | 0.60%             | 2024-10-28      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                  | China Aoyuan Group Ltd                                                    | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    770000 | PA      | $66604.98     | 0.02%             | 2023-02-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                                   | Carriage Services Inc                                                     | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $477238.89    | 0.12%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                     | Altice Financing SA                                                       | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   1910000 | PA      | $1541656.50   | 0.38%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                        | Altice France SA/France                                                   | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    980000 | PA      | $749028.70    | 0.18%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                         | United States Treasury Note/Bond                                          | CUSIP: 91282CFB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $473125.00    | 0.12%             | 2027-07-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                     | Ecuador Government International Bond                                     | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    400000 | PA      | $185895.22    | 0.05%             | 2035-07-31      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                            | Ecopetrol SA                                                              | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   3100000 | PA      | $2165143.79   | 0.53%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                 | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-331073.46   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| PAMPA ENERGIA SA                                        | Pampa Energia SA                                                          | CUSIP: 697660AA6<br>LEI: 254900QNIK0CVURGML24 | Long             | DBT              | CORP              | AR        |    340000 | PA      | $311661.17    | 0.08%             | 2027-01-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                | Clear Channel Outdoor Holdings Inc                                        | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $416843.46    | 0.10%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SPRINT CAPITAL CORP                                     | Sprint Capital Corp                                                       | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2278027.05   | 0.55%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                | Occidental Petroleum Corp                                                 | CUSIP: 674599EB7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $4960103.44   | 1.21%             | 2025-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                  | Williams Cos Inc/The                                                      | CUSIP: 969457BV1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   3190000 | PA      | $3054470.33   | 0.74%             | 2044-06-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CIDRON AIDA FINCO SARL                                  | Cidron Aida Finco Sarl                                                    | CUSIP: 000000000<br>LEI: 98450036A07991DEBF10 | Long             | DBT              | CORP              | LU        |    637000 | PA      | $587914.05    | 0.14%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                                | Bellis Acquisition Co PLC                                                 | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |   3970000 | PA      | $3923017.06   | 0.95%             | 2026-02-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                | Blue Racer Midstream LLC / Blue Racer Finance Corp                        | CUSIP: 095796AH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    730000 | PA      | $725473.23    | 0.18%             | 2025-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                | Targa Resources Partners LP / Targa Resources Partners Finance Corp       | CUSIP: 87612BBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $454377.57    | 0.11%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                                | EQM Midstream Partners LP                                                 | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $858225.01    | 0.21%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                      | Seagate HDD Cayman                                                        | CUSIP: 81180WAH4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   1370000 | PA      | $1364684.40   | 0.33%             | 2023-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                         | United States Treasury Note/Bond                                          | CUSIP: 912828M56<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $946718.75    | 0.23%             | 2025-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| APCOA PARKING HOLDINGS G                                | APCOA Parking Holdings GmbH                                               | CUSIP: 000000000<br>LEI: 529900H8FIYAOV5FUW68 | Long             | DBT              | CORP              | DE        |   1070000 | PA      | $989011.73    | 0.24%             | 2027-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HUARONG FINANCE II                                      | Huarong Finance II Co Ltd                                                 | CUSIP: 000000000<br>LEI: 549300BHVD63HE2GHX17 | Long             | DBT              | CORP              | VG        |    700000 | PA      | $618625.00    | 0.15%             | 2026-06-03      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                      | Viking Cruises Ltd                                                        | CUSIP: 92676XAE7<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   1200000 | PA      | $1267964.30   | 0.31%             | 2025-05-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                    | Pilgrim's Pride Corp                                                      | CUSIP: 72147KAE8<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   3620000 | PA      | $3517540.64   | 0.86%             | 2027-09-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                          | Wynn Macau Ltd                                                            | CUSIP: 98313RAG1<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    240000 | PA      | $220540.80    | 0.05%             | 2026-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                        | CSC Holdings LLC                                                          | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    600000 | PA      | $339717.00    | 0.08%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                 | Royal Caribbean Cruises Ltd                                               | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   2980000 | PA      | $2416633.86   | 0.59%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                   | Tenet Healthcare Corp                                                     | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    250000 | PA      | $225616.57    | 0.05%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves | Western Asset Premier Institutional Government Reserves                   | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |   3720665 | NS      | $3720665.10   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                   | Directv Financing LLC / Directv Financing Co-Obligor Inc                  | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2760000 | PA      | $2474505.60   | 0.60%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN BRAND INTELLECT                                | Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd      | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $453450.00    | 0.11%             | 2026-01-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL HLDGS BM LTD                                   | Carnival Holdings Bermuda Ltd                                             | CUSIP: 14366RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1552861.35   | 0.38%             | 2028-05-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                | Provincia de Buenos Aires/Government Bonds                                | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |     80000 | PA      | $27900.00     | 0.01%             | 2037-09-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                 | Teva Pharmaceutical Finance Netherlands III BV                            | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1150000 | PA      | $1008009.50   | 0.25%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| RUSSIA GOVT BOND - OFZ                                  | Russian Federal Bond - OFZ                                                | CUSIP: 000000000<br>LEI: 5493004EHVGF71PDBU58 | Long             | DBT              | NUSS              | RU        | 198450000 | PA      | $726528.81    | 0.18%             | 2028-01-19      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | EUR/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-329037.91   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| PAR PHARMACEUTICAL INC                                  | Par Pharmaceutical Inc                                                    | CUSIP: 69888XAA7<br>LEI: 549300KK5WR4MGN4YT97 | Long             | DBT              | CORP              | US        |     70000 | PA      | $53346.98     | 0.01%             | 2027-04-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                | American Airlines Inc/AAdvantage Loyalty IP Ltd                           | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    450000 | PA      | $412092.38    | 0.10%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SUMMIT MID HLDS LLC / FI                                | Summit Midstream Holdings LLC / Summit Midstream Finance Corp             | CUSIP: 86614WAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1363991.20   | 0.33%             | 2026-10-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                | Altice France Holding SA                                                  | CUSIP: 000000000<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    720000 | PA      | $571415.54    | 0.14%             | 2027-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                              | Sprint LLC                                                                | CUSIP: 85207UAF2<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    360000 | PA      | $365826.96    | 0.09%             | 2023-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                                            | Yuzhou Group Holdings Co Ltd                                              | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    750000 | PA      | $69097.50     | 0.02%             | 2024-02-26      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                    | YPF SA                                                                    | CUSIP: 984245AL4<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |   1600000 | PA      | $1344364.26   | 0.33%             | 2025-07-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                 | Teva Pharmaceutical Finance Netherlands III BV                            | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   6200000 | PA      | $5529452.27   | 1.35%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                                    | Times China Holdings Ltd                                                  | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |   1230000 | PA      | $213949.58    | 0.05%             | 2025-07-08      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                   | Trivium Packaging Finance BV                                              | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    980000 | PA      | $900722.81    | 0.22%             | 2027-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                | Western Midstream Operating LP                                            | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2538007.50   | 0.62%             | 2030-02-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                       | DISH Network Corp                                                         | CUSIP: 25470MAF6<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   5350000 | PA      | $3440050.00   | 0.84%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                           | TransDigm Inc                                                             | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2660000 | PA      | $2705193.40   | 0.66%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                | Lloyds Banking Group PLC                                                  | CUSIP: 539439AU3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1840000 | PA      | $1779661.10   | 0.43%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                         | United States Treasury Note/Bond                                          | CUSIP: 91282CEA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1700000 | PA      | $1639404.30   | 0.40%             | 2024-02-29      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                              | EUR/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-57412.53    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HUARONG FINANCE 2019                                    | Huarong Finance 2019 Co Ltd                                               | CUSIP: 000000000<br>LEI: 549300M6T6OW4AGYHK10 | Long             | DBT              | CORP              | VG        |   1220000 | PA      | $1210850.00   | 0.29%             | 2023-02-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                           | DISH DBS Corp                                                             | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1772812.50   | 0.43%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                 | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $952.15       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                         | United States Treasury Note/Bond                                          | CUSIP: 91282CFK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2450390.63   | 0.60%             | 2025-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GE CAPITAL INTL FUNDING                                 | GE Capital International Funding Co Unlimited Co                          | CUSIP: 36164Q6M5<br>LEI: 549300G6UZOB126GBY72 | Long             | DBT              | CORP              | IE        |    600000 | PA      | $574651.46    | 0.14%             | 2025-11-15      | Fixed         | 3.37%                 | No            |                  2 | On Loan: No      |
| VERICAST CORP                                           | Vericast Corp                                                             | CUSIP: 92348BAA1<br>LEI: 549300J73P7FL8TVF308 | Long             | DBT              | CORP              | US        |    650000 | PA      | $695500.00    | 0.17%             | 2026-09-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CARROLS RESTAURANT GROUP                                | Carrols Restaurant Group Inc                                              | CUSIP: 14574XAF1<br>LEI: 529900HZEMNWQSAKFJ98 | Long             | DBT              | CORP              | US        |    500000 | PA      | $351081.01    | 0.09%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                    | YPF SA                                                                    | CUSIP: 984245AQ3<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |   1530000 | PA      | $1086300.00   | 0.26%             | 2027-07-21      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                                            | Yuzhou Group Holdings Co Ltd                                              | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |   1250000 | PA      | $113062.50    | 0.03%             | 2024-10-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| WW INTERNATIONAL INC                                    | WW International Inc                                                      | CUSIP: 98262PAA9<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1101958.00   | 0.27%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                         | Sands China Ltd                                                           | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1820000 | PA      | $1489327.99   | 0.36%             | 2029-03-08      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                                   | Continental Resources Inc/OK                                              | CUSIP: 212015AN1<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    300000 | PA      | $292217.19    | 0.07%             | 2024-06-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| RUSSIA GOVT BOND - OFZ                                  | Russian Federal Bond - OFZ                                                | CUSIP: 000000000<br>LEI: 5493004EHVGF71PDBU58 | Long             | DBT              | NUSS              | RU        | 121280000 | PA      | $444008.14    | 0.11%             | 2029-05-23      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                | Service Properties Trust                                                  | CUSIP: 44106MAY8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2120000 | PA      | $1404148.31   | 0.34%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                | Occidental Petroleum Corp                                                 | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1048996.69   | 0.26%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                     | Petroleos Mexicanos                                                       | CUSIP: 71654QAZ5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1000000 | PA      | $653125.00    | 0.16%             | 2041-06-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                            | Navient Corp                                                              | CUSIP: 63938CAJ7<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1329351.35   | 0.32%             | 2026-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                    | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1510000 | PA      | $1131476.49   | 0.28%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                     | NCL Corp Ltd                                                              | CUSIP: 62886HAP6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1410000 | PA      | $1206872.59   | 0.29%             | 2024-12-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                      | Seagate HDD Cayman                                                        | CUSIP: 81180WAR2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $373573.64    | 0.09%             | 2027-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                      | CUSIP: 983133AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2030000 | PA      | $2021953.89   | 0.49%             | 2025-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                 | American Axle & Manufacturing Inc                                         | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    830000 | PA      | $670285.09    | 0.16%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                      | Seagate HDD Cayman                                                        | CUSIP: 81180WAL5<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    670000 | PA      | $652727.40    | 0.16%             | 2025-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                             | Apache Corp                                                               | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1229831.90   | 0.30%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                 | Titan International Inc                                                   | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |   2580000 | PA      | $2439174.34   | 0.59%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                                     | Spectrum Brands Inc                                                       | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1198104.78   | 0.29%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                     | Delta Air Lines Inc                                                       | CUSIP: 247361ZP6<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   4660000 | PA      | $4621718.10   | 1.12%             | 2023-04-19      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                   | Bausch Health Cos Inc                                                     | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    490000 | PA      | $238098.35    | 0.06%             | 2031-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                    | CUSIP: 03969AAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   2048000 | PA      | $1534611.82   | 0.37%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** Western Asset High Income Opportunity Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer