# EDGAR Filing Document

**Accession Number:** 0000872649
**File Stem:** 0001410368-25-031137
**Filing Date:** 2025-11
**Character Count:** 229806
**Document Hash:** 567392a0d727a1e828c3e57f284d21b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031137.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001410368-25-031137

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LOOMIS SAYLES FUNDS II
- **CENTRAL INDEX KEY:** 0000872649

**ORGANIZATION NAME:**
- **EIN:** 043113285
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06241
- **FILM NUMBER:** 251522619

**BUSINESS ADDRESS:**
- **STREET 1:** 888 BOYLSTON STREET
- **STREET 2:** 8TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-449-2810

**MAIL ADDRESS:**
- **STREET 1:** 888 BOYLSTON STREET
- **STREET 2:** 8TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LOOMIS SAYLES FUNDS I
- **DATE OF NAME CHANGE:** 20031119

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LOOMIS SAYLES FUNDS
- **DATE OF NAME CHANGE:** 20031015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LOOMIS SAYLES FUNDS II
- **DATE OF NAME CHANGE:** 20030718

## Series and Classes Contracts Data

### Loomis Sayles High Income Fund (Series ID: S000006700)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000018231 | Class A      | NEFHX           |
| C000018233 | Class C      | NEHCX           |
| C000069253 | Class Y      | NEHYX           |
| C000175112 | Class N      | LSHNX           |

## Nport-Ex

**Portfolio of Investments – as of September 30, 2025 (Unaudited)**

Loomis Sayles High Income Fund

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

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>| **Description** | **Value (†)** |
| **Bonds and Notes — 88.6% of Net Assets** | **Bonds and Notes — 88.6% of Net Assets** | **Bonds and Notes — 88.6% of Net Assets** |
| **Non-Convertible Bonds — 86.1%** | **Non-Convertible Bonds — 86.1%** | **Non-Convertible Bonds — 86.1%** |
|  | **ABS Home Equity — 0.1%** | **ABS Home Equity — 0.1%** |
| $96756 | &nbsp;&nbsp; DSLA Mortgage Loan Trust, Series 2005-AR5, <br> Class 2A1A, 1 mo. USD SOFR + 0.774%, <br> 4.908%, 9/19/2045(a)<br>| &nbsp;&nbsp; $50420 |
|  | **Aerospace & Defense — 1.7%** | **Aerospace & Defense — 1.7%** |
| 180000 | Axon Enterprise, Inc., 6.125%, 3/15/2030(b) | &nbsp;&nbsp; 184865 |
| 55000 | Axon Enterprise, Inc., 6.250%, 3/15/2033(b) | &nbsp;&nbsp; 56611 |
| 245000 | TransDigm, Inc., 4.625%, 1/15/2029 | &nbsp;&nbsp; 240093 |
| 205000 | TransDigm, Inc., 6.250%, 1/31/2034(b) | &nbsp;&nbsp; 210826 |
| 390000 | TransDigm, Inc., 6.375%, 3/01/2029(b) | &nbsp;&nbsp; 398737 |
| 75000 | TransDigm, Inc., 6.375%, 5/31/2033(b) | &nbsp;&nbsp; 75843 |
| 10000 | TransDigm, Inc., 6.750%, 8/15/2028(b) | &nbsp;&nbsp; 10203 |
| 195000 | TransDigm, Inc., 6.875%, 12/15/2030(b) | &nbsp;&nbsp; 202046 |
|  |  | &nbsp;&nbsp; 1379224 |
|  | **Automotive — 1.5%** | **Automotive — 1.5%** |
| 395000 | &nbsp;&nbsp; General Motors Financial Co., Inc., Series A, (fixed <br> rate to 9/30/2027, variable rate thereafter), 5.750%(c)<br>| &nbsp;&nbsp; 391391 |
| 150000 | ZF North America Capital, Inc., 6.750%, 4/23/2030(b) | &nbsp;&nbsp; 146382 |
| 300000 | ZF North America Capital, Inc., 6.875%, 4/14/2028(b) | &nbsp;&nbsp; 303717 |
| 170000 | ZF North America Capital, Inc., 6.875%, 4/23/2032(b) | &nbsp;&nbsp; 162759 |
| 205000 | ZF North America Capital, Inc., 7.125%, 4/14/2030(b) | &nbsp;&nbsp; 203005 |
|  |  | &nbsp;&nbsp; 1207254 |
|  | **Banking — 1.0%** | **Banking — 1.0%** |
| 400000 | &nbsp;&nbsp; Intesa Sanpaolo SpA, (fixed rate to 6/01/2041, <br> variable rate thereafter), 4.950%, 6/01/2042(b)<br>| &nbsp;&nbsp; 338908 |
| 480000 | Synchrony Financial, 7.250%, 2/02/2033 | &nbsp;&nbsp; 512205 |
|  |  | &nbsp;&nbsp; 851113 |
|  | **Brokerage — 1.4%** | **Brokerage — 1.4%** |
| 250000 | &nbsp;&nbsp; Jane Street Group/JSG Finance, Inc., <br> 6.750%, 5/01/2033(b)<br>| &nbsp;&nbsp; 259659 |
| 75000 | &nbsp;&nbsp; Jane Street Group/JSG Finance, Inc., <br> 7.125%, 4/30/2031(b)<br>| &nbsp;&nbsp; 78667 |
| 460000 | Osaic Holdings, Inc., 6.750%, 8/01/2032(b) | &nbsp;&nbsp; 475104 |
| 310000 | Osaic Holdings, Inc., 8.000%, 8/01/2033(b) | &nbsp;&nbsp; 321283 |
|  |  | &nbsp;&nbsp; 1134713 |
|  | **Building Materials — 1.6%** | **Building Materials — 1.6%** |
| 485000 | &nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC, <br> 7.625%, 8/15/2033(b)<br>| &nbsp;&nbsp; 504783 |
| 575000 | Builders FirstSource, Inc., 6.750%, 5/15/2035(b) | &nbsp;&nbsp; 600376 |
| 185000 | Quikrete Holdings, Inc., 6.375%, 3/01/2032(b) | &nbsp;&nbsp; 191631 |
|  |  | &nbsp;&nbsp; 1296790 |
|  | **Cable Satellite — 9.8%** | **Cable Satellite — 9.8%** |
| 935000 | &nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., <br> 4.750%, 3/01/2030(b)<br>| &nbsp;&nbsp; 897195 |
| 295000 | &nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., <br> 5.000%, 2/01/2028(b)<br>| &nbsp;&nbsp; 292159 |
| 440000 | &nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., <br> 5.375%, 6/01/2029(b)<br>| &nbsp;&nbsp; 437066 |
| 200000 | CSC Holdings LLC, 3.375%, 2/15/2031(b) | &nbsp;&nbsp; 128989 |
| 325000 | CSC Holdings LLC, 4.125%, 12/01/2030(b) | &nbsp;&nbsp; 212828 |
| 565000 | CSC Holdings LLC, 4.625%, 12/01/2030(b) | &nbsp;&nbsp; 198228 |
| 405000 | CSC Holdings LLC, 5.750%, 1/15/2030(b) | &nbsp;&nbsp; 154216 |
| 215000 | CSC Holdings LLC, 7.500%, 4/01/2028(b) | &nbsp;&nbsp; 155698 |
| 1150000 | CSC Holdings LLC, 11.250%, 5/15/2028(b) | &nbsp;&nbsp; 1064622 |
| 550000 | Directv Financing LLC, 8.875%, 2/01/2030(b) | &nbsp;&nbsp; 545440 |

---

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Cable Satellite — continued** | **Cable Satellite — continued** |
| $815000 | &nbsp;&nbsp; Directv Financing LLC/Directv Financing Co-Obligor, <br> Inc., 10.000%, 2/15/2031(b)<br>| &nbsp;&nbsp; $813804 |
| 575000 | DISH DBS Corp., 5.250%, 12/01/2026(b) | &nbsp;&nbsp; 564992 |
| 150000 | DISH DBS Corp., 5.750%, 12/01/2028(b) | &nbsp;&nbsp; 143796 |
| 660000 | DISH DBS Corp., 7.750%, 7/01/2026 | &nbsp;&nbsp; 653698 |
| 40000 | DISH Network Corp., 11.750%, 11/15/2027(b) | &nbsp;&nbsp; 42330 |
| 928321 | EchoStar Corp., 10.750%, 11/30/2029 | &nbsp;&nbsp; 1021311 |
| 614267 | &nbsp;&nbsp; EchoStar Corp., 6.750% PIK and/or 6.750% Cash, <br> 11/30/2030(d)<br>| &nbsp;&nbsp; 633279 |
|  |  | &nbsp;&nbsp; 7959651 |
|  | **Chemicals — 1.7%** | **Chemicals — 1.7%** |
| 160000 | Ashland, Inc., 3.375%, 9/01/2031(b) | &nbsp;&nbsp; 141723 |
| 130000 | Chemours Co., 4.625%, 11/15/2029(b) | &nbsp;&nbsp; 117449 |
| 725000 | Chemours Co., 5.750%, 11/15/2028(b) | &nbsp;&nbsp; 707147 |
| 170000 | Hercules LLC, 6.500%, 6/30/2029 | &nbsp;&nbsp; 170651 |
| 262000 | &nbsp;&nbsp; Solstice Advanced Materials, Inc., <br> 5.625%, 9/30/2033(b)<br>| &nbsp;&nbsp; 262866 |
|  |  | &nbsp;&nbsp; 1399836 |
|  | **Construction Machinery — 1.0%** | **Construction Machinery — 1.0%** |
| 160000 | Herc Holdings, Inc., 7.000%, 6/15/2030(b) | &nbsp;&nbsp; 166211 |
| 140000 | Herc Holdings, Inc., 7.250%, 6/15/2033(b) | &nbsp;&nbsp; 146273 |
| 65000 | &nbsp;&nbsp; United Rentals North America, Inc., <br> 3.750%, 1/15/2032<br>| &nbsp;&nbsp; 60215 |
| 420000 | &nbsp;&nbsp; United Rentals North America, Inc., <br> 3.875%, 2/15/2031<br>| &nbsp;&nbsp; 397329 |
| 20000 | &nbsp;&nbsp; United Rentals North America, Inc., <br> 4.000%, 7/15/2030<br>| &nbsp;&nbsp; 19130 |
| 10000 | &nbsp;&nbsp; United Rentals North America, Inc., <br> 6.125%, 3/15/2034(b)<br>| &nbsp;&nbsp; 10398 |
|  |  | &nbsp;&nbsp; 799556 |
|  | **Consumer Cyclical Services — 0.7%** | **Consumer Cyclical Services — 0.7%** |
| 625000 | TriNet Group, Inc., 3.500%, 3/01/2029(b) | &nbsp;&nbsp; 584583 |
| 20000 | TriNet Group, Inc., 7.125%, 8/15/2031(b) | &nbsp;&nbsp; 20659 |
|  |  | &nbsp;&nbsp; 605242 |
|  | **Consumer Products — 0.8%** | **Consumer Products — 0.8%** |
| 270000 | Newell Brands, Inc., 8.500%, 6/01/2028(b) | &nbsp;&nbsp; 285589 |
| 185000 | Whirlpool Corp., 6.125%, 6/15/2030 | &nbsp;&nbsp; 186449 |
| 200000 | Whirlpool Corp., 6.500%, 6/15/2033 | &nbsp;&nbsp; 199588 |
|  |  | &nbsp;&nbsp; 671626 |
|  | **Diversified Manufacturing — 1.2%** | **Diversified Manufacturing — 1.2%** |
| 185000 | Esab Corp., 6.250%, 4/15/2029(b) | &nbsp;&nbsp; 190051 |
| 505000 | Resideo Funding, Inc., 4.000%, 9/01/2029(b) | &nbsp;&nbsp; 482381 |
| 295000 | Resideo Funding, Inc., 6.500%, 7/15/2032(b) | &nbsp;&nbsp; 302347 |
|  |  | &nbsp;&nbsp; 974779 |
|  | **Electric — 0.6%** | **Electric — 0.6%** |
| 265000 | NRG Energy, Inc., 3.625%, 2/15/2031(b) | &nbsp;&nbsp; 244999 |
| 69000 | NRG Energy, Inc., 3.875%, 2/15/2032(b) | &nbsp;&nbsp; 63586 |
| 120000 | NRG Energy, Inc., 5.750%, 1/15/2034(b) | &nbsp;&nbsp; 119878 |
| 95000 | NRG Energy, Inc., 6.000%, 2/01/2033(b) | &nbsp;&nbsp; 96479 |
|  |  | &nbsp;&nbsp; 524942 |
|  | **Environmental — 0.8%** | **Environmental — 0.8%** |
| 35000 | Clean Harbors, Inc., 4.875%, 7/15/2027(b) | &nbsp;&nbsp; 34971 |
| 190000 | Clean Harbors, Inc., 5.125%, 7/15/2029(b) | &nbsp;&nbsp; 188421 |
| 45000 | Clean Harbors, Inc., 6.375%, 2/01/2031(b) | &nbsp;&nbsp; 46081 |
| 190000 | GFL Environmental, Inc., 4.000%, 8/01/2028(b) | &nbsp;&nbsp; 185493 |
| 85000 | GFL Environmental, Inc., 4.375%, 8/15/2029(b) | &nbsp;&nbsp; 82927 |
| 75000 | GFL Environmental, Inc., 6.750%, 1/15/2031(b) | &nbsp;&nbsp; 78482 |
|  |  | &nbsp;&nbsp; 616375 |

---

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Finance Companies — 2.4%** | **Finance Companies — 2.4%** |
| $460000 | Azorra Finance Ltd., 7.250%, 1/15/2031(b) | &nbsp;&nbsp; $478994 |
| 310000 | Azorra Finance Ltd., 7.750%, 4/15/2030(b) | &nbsp;&nbsp; 326241 |
| 85000 | &nbsp;&nbsp; Freedom Mortgage Holdings LLC, <br> 7.875%, 4/01/2033(b)<br>| &nbsp;&nbsp; 87565 |
| 160000 | &nbsp;&nbsp; Freedom Mortgage Holdings LLC, <br> 8.375%, 4/01/2032(b)<br>| &nbsp;&nbsp; 167704 |
| 260000 | &nbsp;&nbsp; Freedom Mortgage Holdings LLC, <br> 9.125%, 5/15/2031(b)<br>| &nbsp;&nbsp; 276523 |
| 330000 | &nbsp;&nbsp; Freedom Mortgage Holdings LLC, <br> 9.250%, 2/01/2029(b)<br>| &nbsp;&nbsp; 347218 |
| 275000 | GGAM Finance Ltd., 5.875%, 3/15/2030(b) | &nbsp;&nbsp; 278437 |
|  |  | &nbsp;&nbsp; 1962682 |
|  | **Financial Other — 0.5%** | **Financial Other — 0.5%** |
| 33106 | &nbsp;&nbsp; Add Hero Holdings Ltd., Series IAI, 8.500% PIK <br> and/or 7.500% Cash, 9/30/2029(d)<br>| &nbsp;&nbsp; 1944 |
| 26897 | &nbsp;&nbsp; Add Hero Holdings Ltd., Series IAI, 9.000% PIK <br> and/or 8.000% Cash, 9/30/2030(d)<br>| &nbsp;&nbsp; 572 |
| 35369 | &nbsp;&nbsp; Add Hero Holdings Ltd., Series IAI, 9.800% PIK <br> and/or 8.800% Cash, 9/30/2031(d)<br>| &nbsp;&nbsp; 575 |
| 210000 | Agile Group Holdings Ltd., 6.050%, 10/13/2025(e) | &nbsp;&nbsp; 11947 |
| 200000 | &nbsp;&nbsp; Burford Capital Global Finance LLC, <br> 7.500%, 7/15/2033(b)<br>| &nbsp;&nbsp; 203520 |
| 213200 | CFLD Cayman Investment Ltd., 2.500%, 1/31/2031(b)(f) | &nbsp;&nbsp; 6396 |
| 112735 | CFLD Cayman Investment Ltd., 2.500%, 1/31/2031(b)(f) | &nbsp;&nbsp; 3382 |
| 24752 | &nbsp;&nbsp; CFLD Cayman Investment Ltd., Zero Coupon, <br> 1/31/2031(b)<br>| &nbsp;&nbsp; 612 |
| 19374 | &nbsp;&nbsp; China Aoyuan Group Ltd., Series IAI, 5.500% PIK <br> and/or 0.000% Cash, 9/30/2031(d)<br>| &nbsp;&nbsp; 227 |
| 48702 | &nbsp;&nbsp; China Aoyuan Group Ltd., Series IAI, Zero <br> Coupon(a)(c)<br>| &nbsp;&nbsp; 272 |
| 200000 | China Evergrande Group, 8.750%, 6/28/2025(e) | &nbsp;&nbsp; 2750 |
| 230109 | &nbsp;&nbsp; Easy Tactic Ltd., 7.500% PIK and/or 6.500% Cash, <br> 7/11/2027(d)(e)<br>| &nbsp;&nbsp; 5884 |
| 220000 | &nbsp;&nbsp; Fantasia Holdings Group Co. Ltd., <br> 11.875%, 6/01/2023(e)<br>| &nbsp;&nbsp; 3659 |
| 95000 | &nbsp;&nbsp; Icahn Enterprises LP/Icahn Enterprises Finance <br> Corp., 5.250%, 5/15/2027<br>| &nbsp;&nbsp; 93380 |
| 41064 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., 6.250% PIK and/or 5.250% <br> Cash, 12/28/2028(b)(d)<br>| &nbsp;&nbsp; 873 |
| 68440 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., 6.500% PIK and/or 5.500% <br> Cash, 12/28/2029(b)(d)<br>| &nbsp;&nbsp; 1283 |
| 82129 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., 6.750% PIK and/or 5.750% <br> Cash, 12/28/2030(b)(d)<br>| &nbsp;&nbsp; 1129 |
| 123194 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., 7.000% PIK and/or 6.000% <br> Cash, 12/28/2031(b)(d)<br>| &nbsp;&nbsp; 1386 |
| 115429 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., 7.250% PIK and/or 6.250% <br> Cash, 12/28/2032(b)(d)<br>| &nbsp;&nbsp; 1299 |
| 27375 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., 7.721% PIK and/or 6.721% <br> Cash, 12/28/2028(b)(d)<br>| &nbsp;&nbsp; 684 |
| 2000 | &nbsp;&nbsp; Shimao Group Holdings Ltd., 6.000% PIK and/or <br> 5.000% Cash, 7/21/2031(b)(d)<br>| &nbsp;&nbsp; 84 |
| 37238 | &nbsp;&nbsp; Sunac China Holdings Ltd., 6.000% PIK and/or 5.000% <br> Cash, 9/30/2026(b)(d)(e)<br>| &nbsp;&nbsp; 5417 |
| 37328 | &nbsp;&nbsp; Sunac China Holdings Ltd., 6.250% PIK and/or 5.250% <br> Cash, 9/30/2027(b)(d)(e)<br>| &nbsp;&nbsp; 5599 |
| 74839 | &nbsp;&nbsp; Sunac China Holdings Ltd., 6.500% PIK and/or 5.500% <br> Cash, 9/30/2027(b)(d)(e)<br>| &nbsp;&nbsp; 11039 |
| 112530 | &nbsp;&nbsp; Sunac China Holdings Ltd., 6.750% PIK and/or 5.750% <br> Cash, 9/30/2028(b)(d)(e)<br>| &nbsp;&nbsp; 16855 |
| 112803 | &nbsp;&nbsp; Sunac China Holdings Ltd., 7.000% PIK and/or 6.000% <br> Cash, 9/30/2029(b)(d)(e)<br>| &nbsp;&nbsp; 16920 |

---

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Financial Other — continued** | **Financial Other — continued** |
| $53124 | &nbsp;&nbsp; Sunac China Holdings Ltd., 7.250% PIK and/or 6.250% <br> Cash, 9/30/2030(b)(d)(e)<br>| &nbsp;&nbsp; $7986 |
| 200000 | Times China Holdings Ltd., 6.200%, 3/22/2026(e) | &nbsp;&nbsp; 6700 |
| 23258 | &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., 1.000% PIK and/or <br> 0.000% Cash, 6/30/2034(d)<br>| &nbsp;&nbsp; 126 |
| 26736 | &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., 4.000% PIK and/or <br> 0.000% Cash, 6/30/2028(d)<br>| &nbsp;&nbsp; 968 |
| 46557 | &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., 4.500% PIK and/or <br> 0.000% Cash, 6/30/2029(d)<br>| &nbsp;&nbsp; 1312 |
| 62143 | &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., 5.000% PIK and/or <br> 0.000% Cash, 6/30/2030(d)<br>| &nbsp;&nbsp; 1333 |
| 87176 | &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., 5.500% PIK and/or <br> 0.000% Cash, 6/30/2031(d)<br>| &nbsp;&nbsp; 1274 |
| 31535 | &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., 7.000% PIK and/or <br> 6.000% Cash, 6/30/2027(d)<br>| &nbsp;&nbsp; 4036 |
| 400000 | Zhenro Properties Group Ltd., 6.630%, 1/07/2026(e) | &nbsp;&nbsp; 984 |
| 200000 | Zhenro Properties Group Ltd., 6.700%, 8/04/2026(e) | &nbsp;&nbsp; 500 |
|  |  | &nbsp;&nbsp; 422907 |
|  | **Food & Beverage — 2.3%** | **Food & Beverage — 2.3%** |
| 90000 | &nbsp;&nbsp; HLF Financing SARL LLC/Herbalife International, Inc., <br> 4.875%, 6/01/2029(b)<br>| &nbsp;&nbsp; 79132 |
| 60000 | Lamb Weston Holdings, Inc., 4.125%, 1/31/2030(b) | &nbsp;&nbsp; 57613 |
| 375000 | Lamb Weston Holdings, Inc., 4.375%, 1/31/2032(b) | &nbsp;&nbsp; 354421 |
| 90000 | Lamb Weston Holdings, Inc., 4.875%, 5/15/2028(b) | &nbsp;&nbsp; 89674 |
| 495000 | Performance Food Group, Inc., 4.250%, 8/01/2029(b) | &nbsp;&nbsp; 480836 |
| 40000 | Performance Food Group, Inc., 6.125%, 9/15/2032(b) | &nbsp;&nbsp; 40972 |
| 395000 | Post Holdings, Inc., 4.500%, 9/15/2031(b) | &nbsp;&nbsp; 369028 |
| 45000 | Post Holdings, Inc., 4.625%, 4/15/2030(b) | &nbsp;&nbsp; 43381 |
| 15000 | Post Holdings, Inc., 5.500%, 12/15/2029(b) | &nbsp;&nbsp; 14940 |
| 340000 | Post Holdings, Inc., 6.250%, 2/15/2032(b) | &nbsp;&nbsp; 349479 |
|  |  | &nbsp;&nbsp; 1879476 |
|  | **Gaming — 0.6%** | **Gaming — 0.6%** |
| 440000 | &nbsp;&nbsp; Genting New York LLC/GENNY Capital, Inc., <br> 7.250%, 10/01/2029(b)<br>| &nbsp;&nbsp; 454503 |
|  | **Health Care REITs — 0.4%** | **Health Care REITs — 0.4%** |
| 160000 | &nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 3.500%, 3/15/2031<br>| &nbsp;&nbsp; 117681 |
| 195000 | &nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 8.500%, 2/15/2032(b)<br>| &nbsp;&nbsp; 207200 |
|  |  | &nbsp;&nbsp; 324881 |
|  | **Health Insurance — 1.7%** | **Health Insurance — 1.7%** |
| 620000 | Molina Healthcare, Inc., 3.875%, 11/15/2030(b) | &nbsp;&nbsp; 573739 |
| 680000 | Molina Healthcare, Inc., 3.875%, 5/15/2032(b) | &nbsp;&nbsp; 617050 |
| 70000 | Molina Healthcare, Inc., 4.375%, 6/15/2028 | &nbsp;&nbsp; 68267 |
| 90000 | Molina Healthcare, Inc., 6.250%, 1/15/2033(b) | &nbsp;&nbsp; 91000 |
|  |  | &nbsp;&nbsp; 1350056 |
|  | **Healthcare — 2.4%** | **Healthcare — 2.4%** |
| 395000 | Avantor Funding, Inc., 3.875%, 11/01/2029(b) | &nbsp;&nbsp; 375631 |
| 220000 | DaVita, Inc., 3.750%, 2/15/2031(b) | &nbsp;&nbsp; 201498 |
| 40000 | DaVita, Inc., 4.625%, 6/01/2030(b) | &nbsp;&nbsp; 38336 |
| 270000 | HAH Group Holding Co. LLC, 9.750%, 10/01/2031(b) | &nbsp;&nbsp; 256521 |
| 200000 | Hologic, Inc., 3.250%, 2/15/2029(b) | &nbsp;&nbsp; 193118 |
| 265000 | LifePoint Health, Inc., 5.375%, 1/15/2029(b) | &nbsp;&nbsp; 252412 |
| 75000 | Owens & Minor, Inc., 6.625%, 4/01/2030(b) | &nbsp;&nbsp; 61875 |
| 555000 | Radiology Partners, Inc., 8.500%, 7/15/2032(b) | &nbsp;&nbsp; 574334 |
|  |  | &nbsp;&nbsp; 1953725 |
|  | **Home Construction — 0.5%** | **Home Construction — 0.5%** |
| 1200000 | Corp. GEO SAB de CV, 8.875%, 3/27/2022(b)(e)(g) | &nbsp;&nbsp; — |

---

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Home Construction — continued** | **Home Construction — continued** |
| $290000 | &nbsp;&nbsp; Taylor Morrison Communities, Inc., <br> 5.125%, 8/01/2030(b)<br>| &nbsp;&nbsp; $289072 |
| 110000 | &nbsp;&nbsp; Taylor Morrison Communities, Inc., <br> 5.750%, 1/15/2028(b)<br>| &nbsp;&nbsp; 111547 |
|  |  | &nbsp;&nbsp; 400619 |
|  | **Independent Energy — 5.3%** | **Independent Energy — 5.3%** |
| 125000 | Chord Energy Corp., 6.000%, 10/01/2030(b) | &nbsp;&nbsp; 124130 |
| 790000 | Chord Energy Corp., 6.750%, 3/15/2033(b) | &nbsp;&nbsp; 800419 |
| 160000 | Civitas Resources, Inc., 8.375%, 7/01/2028(b) | &nbsp;&nbsp; 165848 |
| 880000 | Civitas Resources, Inc., 8.625%, 11/01/2030(b) | &nbsp;&nbsp; 911385 |
| 155000 | Civitas Resources, Inc., 8.750%, 7/01/2031(b) | &nbsp;&nbsp; 158799 |
| 60000 | Crescent Energy Finance LLC, 7.375%, 1/15/2033(b) | &nbsp;&nbsp; 58420 |
| 215000 | Crescent Energy Finance LLC, 7.625%, 4/01/2032(b) | &nbsp;&nbsp; 213515 |
| 450000 | Matador Resources Co., 6.250%, 4/15/2033(b) | &nbsp;&nbsp; 452115 |
| 100000 | Matador Resources Co., 6.500%, 4/15/2032(b) | &nbsp;&nbsp; 100957 |
| 430000 | Northern Oil & Gas, Inc., 8.125%, 3/01/2028(b) | &nbsp;&nbsp; 436071 |
| 415000 | Northern Oil & Gas, Inc., 8.750%, 6/15/2031(b) | &nbsp;&nbsp; 428734 |
| 186000 | Saturn Oil & Gas, Inc., 9.625%, 6/15/2029(b) | &nbsp;&nbsp; 192689 |
| 280000 | SM Energy Co., 6.750%, 8/01/2029(b) | &nbsp;&nbsp; 281342 |
|  |  | &nbsp;&nbsp; 4324424 |
|  | **Industrial Other — 1.1%** | **Industrial Other — 1.1%** |
| 135000 | Arcosa, Inc., 4.375%, 4/15/2029(b) | &nbsp;&nbsp; 131272 |
| 65000 | Arcosa, Inc., 6.875%, 8/15/2032(b) | &nbsp;&nbsp; 67892 |
| 115000 | &nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings, Inc., <br> 7.500%, 2/01/2032(b)<br>| &nbsp;&nbsp; 116190 |
| 610000 | TopBuild Corp., 5.625%, 1/31/2034(b) | &nbsp;&nbsp; 607783 |
|  |  | &nbsp;&nbsp; 923137 |
|  | **Leisure — 1.1%** | **Leisure — 1.1%** |
| 430000 | &nbsp;&nbsp; Kingpin Intermediate Holdings LLC, <br> 7.250%, 10/15/2032(b)<br>| &nbsp;&nbsp; 408576 |
| 450000 | Lindblad Expeditions LLC, 7.000%, 9/15/2030(b) | &nbsp;&nbsp; 458680 |
|  |  | &nbsp;&nbsp; 867256 |
|  | **Life Insurance — 0.7%** | **Life Insurance — 0.7%** |
| 525000 | &nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset <br> Investor 2 LLC/APH3 Somerset Investor 2 LLC, <br> 7.875%, 11/01/2029(b)<br>| &nbsp;&nbsp; 547900 |
|  | **Lodging — 3.5%** | **Lodging — 3.5%** |
| 510000 | &nbsp;&nbsp; Hilton Domestic Operating Co., Inc., <br> 3.625%, 2/15/2032(b)<br>| &nbsp;&nbsp; 466704 |
| 85000 | &nbsp;&nbsp; Hilton Domestic Operating Co., Inc., <br> 4.000%, 5/01/2031(b)<br>| &nbsp;&nbsp; 80443 |
| 160000 | &nbsp;&nbsp; Hilton Domestic Operating Co., Inc., <br> 5.875%, 3/15/2033(b)<br>| &nbsp;&nbsp; 163327 |
| 860000 | &nbsp;&nbsp; Hilton Grand Vacations Borrower LLC/Hilton Grand <br> Vacations Borrower, Inc., 6.625%, 1/15/2032(b)<br>| &nbsp;&nbsp; 873463 |
| 630000 | &nbsp;&nbsp; Marriott Ownership Resorts, Inc., <br> 4.500%, 6/15/2029(b)<br>| &nbsp;&nbsp; 607919 |
| 270000 | Travel & Leisure Co., 4.500%, 12/01/2029(b) | &nbsp;&nbsp; 260852 |
| 190000 | Travel & Leisure Co., 4.625%, 3/01/2030(b) | &nbsp;&nbsp; 183135 |
| 200000 | Travel & Leisure Co., 6.125%, 9/01/2033(b) | &nbsp;&nbsp; 199390 |
|  |  | &nbsp;&nbsp; 2835233 |
|  | **Media Entertainment — 3.0%** | **Media Entertainment — 3.0%** |
| 305000 | Discovery Communications LLC, 3.625%, 5/15/2030 | &nbsp;&nbsp; 281761 |
| 260000 | Discovery Communications LLC, 6.350%, 6/01/2040 | &nbsp;&nbsp; 238594 |
| 325000 | Dotdash Meredith, Inc., 7.625%, 6/15/2032(b) | &nbsp;&nbsp; 321977 |
| 56000 | iHeartCommunications, Inc., 7.000%, 1/15/2031(b) | &nbsp;&nbsp; 43987 |
| 97000 | Lamar Media Corp., 5.375%, 11/01/2033(b) | &nbsp;&nbsp; 96286 |
| 660000 | &nbsp;&nbsp; Paramount Global, (fixed rate to 3/30/2027, variable <br> rate thereafter), 6.375%, 3/30/2062<br>| &nbsp;&nbsp; 658899 |

---

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Media Entertainment — continued** | **Media Entertainment — continued** |
| $738000 | Warnermedia Holdings, Inc., 4.279%, 3/15/2032 | &nbsp;&nbsp; $676192 |
| 160000 | Warnermedia Holdings, Inc., 5.050%, 3/15/2042 | &nbsp;&nbsp; 127650 |
|  |  | &nbsp;&nbsp; 2445346 |
|  | **Metals & Mining — 1.9%** | **Metals & Mining — 1.9%** |
| 140000 | Commercial Metals Co., 3.875%, 2/15/2031 | &nbsp;&nbsp; 130511 |
| 340000 | Commercial Metals Co., 4.125%, 1/15/2030 | &nbsp;&nbsp; 326192 |
| 205000 | Commercial Metals Co., 4.375%, 3/15/2032 | &nbsp;&nbsp; 193473 |
| 60000 | Fortescue Treasury Pty. Ltd., 4.375%, 4/01/2031(b) | &nbsp;&nbsp; 57284 |
| 65000 | GrafTech Finance, Inc., 4.625%, 12/23/2029(b) | &nbsp;&nbsp; 45762 |
| 85000 | &nbsp;&nbsp; GrafTech Global Enterprises, Inc., <br> 9.875%, 12/23/2029(b)<br>| &nbsp;&nbsp; 72763 |
| 20000 | Mineral Resources Ltd., 8.000%, 11/01/2027(b) | &nbsp;&nbsp; 20386 |
| 65000 | Mineral Resources Ltd., 8.125%, 5/01/2027(b) | &nbsp;&nbsp; 64998 |
| 625000 | Mineral Resources Ltd., 9.250%, 10/01/2028(b) | &nbsp;&nbsp; 654881 |
|  |  | &nbsp;&nbsp; 1566250 |
|  | **Midstream — 4.4%** | **Midstream — 4.4%** |
| 500000 | &nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC, <br> 5.500%, 6/15/2031(b)<br>| &nbsp;&nbsp; 495352 |
| 385000 | &nbsp;&nbsp; Energy Transfer LP, (fixed rate to 2/15/2029, variable <br> rate thereafter), 8.000%, 5/15/2054<br>| &nbsp;&nbsp; 411420 |
| 90000 | &nbsp;&nbsp; Venture Global Calcasieu Pass LLC, <br> 3.875%, 11/01/2033(b)<br>| &nbsp;&nbsp; 81092 |
| 165000 | &nbsp;&nbsp; Venture Global Calcasieu Pass LLC, <br> 4.125%, 8/15/2031(b)<br>| &nbsp;&nbsp; 155735 |
| 940000 | &nbsp;&nbsp; Venture Global LNG, Inc., (fixed rate to 9/30/2029, <br> variable rate thereafter), 9.000%(b)(c)<br>| &nbsp;&nbsp; 931615 |
| 425000 | &nbsp;&nbsp; Venture Global Plaquemines LNG LLC, <br> 6.500%, 1/15/2034(b)<br>| &nbsp;&nbsp; 447380 |
| 385000 | &nbsp;&nbsp; Venture Global Plaquemines LNG LLC, <br> 6.750%, 1/15/2036(b)<br>| &nbsp;&nbsp; 408938 |
| 320000 | &nbsp;&nbsp; Venture Global Plaquemines LNG LLC, <br> 7.500%, 5/01/2033(b)<br>| &nbsp;&nbsp; 353603 |
| 225000 | &nbsp;&nbsp; Venture Global Plaquemines LNG LLC, <br> 7.750%, 5/01/2035(b)<br>| &nbsp;&nbsp; 253959 |
|  |  | &nbsp;&nbsp; 3539094 |
|  | **Non-Agency Commercial Mortgage-Backed** <br> **Securities — 1.1%** | **Non-Agency Commercial Mortgage-Backed** <br> **Securities — 1.1%** |
| 91504 | &nbsp;&nbsp; CG-CCRE Commercial Mortgage Trust, <br> Series 2014-FL2, Class COL1, 1 mo. USD SOFR + <br> 3.614%, 7.765%, 11/15/2031(a)(b)<br>| &nbsp;&nbsp; 28278 |
| 205885 | &nbsp;&nbsp; CG-CCRE Commercial Mortgage Trust, <br> Series 2014-FL2, Class COL2, 1 mo. USD SOFR + <br> 4.614%, 8.765%, 11/15/2031(a)(b)<br>| &nbsp;&nbsp; 42350 |
| 1020000 | &nbsp;&nbsp; Credit Suisse Mortgage Trust, Series 2014-USA, <br> Class E, 4.373%, 9/15/2037(b)<br>| &nbsp;&nbsp; 688245 |
| 380000 | &nbsp;&nbsp; Starwood Retail Property Trust, Series 2014-STAR, <br> Class D, Prime + 0.000%, <br> 7.500%, 11/15/2027(a)(b)(f)(g)<br>| &nbsp;&nbsp; 3800 |
| 420000 | &nbsp;&nbsp; Starwood Retail Property Trust, Series 2014-STAR, <br> Class E, Prime + 0.000%, <br> 7.500%, 11/15/2027(a)(b)(f)(g)<br>| &nbsp;&nbsp; 2100 |
| 60000 | &nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, <br> Series 2016-C36, Class C, 4.248%, 11/15/2059(a)<br>| &nbsp;&nbsp; 52448 |
| 32730 | &nbsp;&nbsp; WFRBS Commercial Mortgage Trust, Series 2011-C3, <br> Class D, 6.050%, 3/15/2044(a)(b)<br>| &nbsp;&nbsp; 11783 |
| 80000 | &nbsp;&nbsp; WFRBS Commercial Mortgage Trust, <br> Series 2012-C10, Class C, 4.455%, 12/15/2045(a)<br>| &nbsp;&nbsp; 69441 |
|  |  | &nbsp;&nbsp; 898445 |
|  | **Oil Field Services — 1.7%** | **Oil Field Services — 1.7%** |
| 175000 | Oceaneering International, Inc., 6.000%, 2/01/2028 | &nbsp;&nbsp; 177164 |

---

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Oil Field Services — continued** | **Oil Field Services — continued** |
| $90000 | Oceaneering International, Inc., 6.000%, 2/01/2028 | &nbsp;&nbsp; $91113 |
| 43385 | Transocean Aquila Ltd., 8.000%, 9/30/2028(b) | &nbsp;&nbsp; 44627 |
| 20000 | Transocean International Ltd., 8.000%, 2/01/2027(b) | &nbsp;&nbsp; 19972 |
| 598000 | WBI Operating LLC, 6.250%, 10/15/2030(b) | &nbsp;&nbsp; 598000 |
| 488000 | Weatherford International Ltd., 6.750%, 10/15/2033(b) | &nbsp;&nbsp; 488340 |
|  |  | &nbsp;&nbsp; 1419216 |
|  | **Other REITs — 0.2%** | **Other REITs — 0.2%** |
| 160000 | &nbsp;&nbsp; EF Holdco/EF Cayman Holdings/Ellington Fin REIT <br> Cayman/TRS/EF Cayman Non-MTM, <br> 7.375%, 9/30/2030(b)<br>| &nbsp;&nbsp; 160000 |
|  | **Packaging — 1.9%** | **Packaging — 1.9%** |
| 200000 | &nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC, 3.250%, 9/01/2028(b)<br>| &nbsp;&nbsp; 190003 |
| 1280000 | Ball Corp., 5.500%, 9/15/2033 | &nbsp;&nbsp; 1293759 |
| 55000 | &nbsp;&nbsp; Mauser Packaging Solutions Holding Co., <br> 7.875%, 4/15/2027(b)<br>| &nbsp;&nbsp; 55539 |
|  |  | &nbsp;&nbsp; 1539301 |
|  | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| 525000 | Bausch Health Cos., Inc., 4.875%, 6/01/2028(b) | &nbsp;&nbsp; 469875 |
| 115000 | Bausch Health Cos., Inc., 11.000%, 9/30/2028(b) | &nbsp;&nbsp; 119602 |
| 295000 | &nbsp;&nbsp; Teva Pharmaceutical Finance Co. LLC, <br> 6.150%, 2/01/2036<br>| &nbsp;&nbsp; 308888 |
| 835000 | &nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, <br> 4.100%, 10/01/2046<br>| &nbsp;&nbsp; 623169 |
| 465000 | &nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands IV BV, <br> 5.750%, 12/01/2030<br>| &nbsp;&nbsp; 478908 |
|  |  | &nbsp;&nbsp; 2000442 |
|  | **Property & Casualty Insurance — 6.0%** | **Property & Casualty Insurance — 6.0%** |
| 715000 | &nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer, 6.500%, 10/01/2031(b)<br>| &nbsp;&nbsp; 731039 |
| 360000 | &nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer, 7.000%, 1/15/2031(b)<br>| &nbsp;&nbsp; 371962 |
| 365000 | &nbsp;&nbsp; Amynta Agency Borrower, Inc. & Amynta Warranty <br> Borrower, Inc., 7.500%, 7/15/2033(b)<br>| &nbsp;&nbsp; 373631 |
| 1000000 | Ardonagh Finco Ltd., 7.750%, 2/15/2031(b) | &nbsp;&nbsp; 1046389 |
| 690000 | &nbsp;&nbsp; Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance, <br> 7.125%, 5/15/2031(b)<br>| &nbsp;&nbsp; 716254 |
| 735000 | &nbsp;&nbsp; Jones Deslauriers Insurance Management, Inc., <br> 6.875%, 10/01/2033(b)<br>| &nbsp;&nbsp; 731147 |
| 315000 | Liberty Mutual Group, Inc., 4.300%, 2/01/2061(b) | &nbsp;&nbsp; 200208 |
| 405000 | Panther Escrow Issuer LLC, 7.125%, 6/01/2031(b) | &nbsp;&nbsp; 421248 |
| 320000 | Ryan Specialty LLC, 5.875%, 8/01/2032(b) | &nbsp;&nbsp; 323580 |
|  |  | &nbsp;&nbsp; 4915458 |
|  | **Restaurants — 2.8%** | **Restaurants — 2.8%** |
| 390000 | &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc., <br> 3.875%, 1/15/2028(b)<br>| &nbsp;&nbsp; 380659 |
| 750000 | &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc., <br> 4.000%, 10/15/2030(b)<br>| &nbsp;&nbsp; 706817 |
| 225000 | &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc., <br> 4.375%, 1/15/2028(b)<br>| &nbsp;&nbsp; 221081 |
| 5000 | &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc., <br> 5.625%, 9/15/2029(b)<br>| &nbsp;&nbsp; 5060 |
| 205000 | &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc., <br> 6.125%, 6/15/2029(b)<br>| &nbsp;&nbsp; 209613 |
| 725000 | Yum! Brands, Inc., 3.625%, 3/15/2031 | &nbsp;&nbsp; 676963 |
| 35000 | Yum! Brands, Inc., 4.625%, 1/31/2032 | &nbsp;&nbsp; 34007 |
|  |  | &nbsp;&nbsp; 2234200 |

---

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Retailers — 3.2%** | **Retailers — 3.2%** |
| $835000 | &nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH U.K. Ltd., <br> 8.375%, 1/15/2029(b)<br>| &nbsp;&nbsp; $816697 |
| 260000 | Murphy Oil USA, Inc., 3.750%, 2/15/2031(b) | &nbsp;&nbsp; 241814 |
| 665000 | &nbsp;&nbsp; PetSmart LLC/PetSmart Finance Corp., <br> 7.500%, 9/15/2032(b)<br>| &nbsp;&nbsp; 665988 |
| 400000 | Rakuten Group, Inc., 9.750%, 4/15/2029(b) | &nbsp;&nbsp; 449786 |
| 491264 | SGUS LLC, 11.000%, 12/15/2029(b) | &nbsp;&nbsp; 463103 |
|  |  | &nbsp;&nbsp; 2637388 |
|  | **Technology — 10.1%** | **Technology — 10.1%** |
| 455000 | Block, Inc., 3.500%, 6/01/2031 | &nbsp;&nbsp; 423433 |
| 320000 | Block, Inc., 6.500%, 5/15/2032 | &nbsp;&nbsp; 331202 |
| 210000 | CommScope LLC, 9.500%, 12/15/2031(b) | &nbsp;&nbsp; 217371 |
| 25000 | Entegris, Inc., 3.625%, 5/01/2029(b) | &nbsp;&nbsp; 23760 |
| 95000 | Entegris, Inc., 4.375%, 4/15/2028(b) | &nbsp;&nbsp; 92953 |
| 70000 | Entegris, Inc., 5.950%, 6/15/2030(b) | &nbsp;&nbsp; 70982 |
| 875000 | Fair Isaac Corp., 6.000%, 5/15/2033(b) | &nbsp;&nbsp; 885888 |
| 120000 | &nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance Co., Inc., <br> 3.500%, 3/01/2029(b)<br>| &nbsp;&nbsp; 113697 |
| 156744 | GoTo Group, Inc., 5.500%, 5/01/2028(b) | &nbsp;&nbsp; 126963 |
| 315000 | Imola Merger Corp., 4.750%, 5/15/2029(b) | &nbsp;&nbsp; 306377 |
| 470000 | Iron Mountain, Inc., 4.500%, 2/15/2031(b) | &nbsp;&nbsp; 448627 |
| 110000 | Iron Mountain, Inc., 4.875%, 9/15/2029(b) | &nbsp;&nbsp; 108289 |
| 295000 | Iron Mountain, Inc., 5.250%, 7/15/2030(b) | &nbsp;&nbsp; 291745 |
| 50000 | Iron Mountain, Inc., 7.000%, 2/15/2029(b) | &nbsp;&nbsp; 51527 |
| 240000 | Neptune Bidco U.S., Inc., 9.290%, 4/15/2029(b) | &nbsp;&nbsp; 235606 |
| 10000 | Open Text Corp., 3.875%, 12/01/2029(b) | &nbsp;&nbsp; 9453 |
| 780000 | Open Text Holdings, Inc., 4.125%, 2/15/2030(b) | &nbsp;&nbsp; 738892 |
| 170000 | Open Text Holdings, Inc., 4.125%, 12/01/2031(b) | &nbsp;&nbsp; 157215 |
| 321000 | Sabre GLBL, Inc., 8.625%, 6/01/2027(b) | &nbsp;&nbsp; 325597 |
| 79000 | Sabre GLBL, Inc., 10.750%, 11/15/2029(b) | &nbsp;&nbsp; 76346 |
| 337000 | &nbsp;&nbsp; Science Applications International Corp., <br> 5.875%, 11/01/2033(b)<br>| &nbsp;&nbsp; 337105 |
| 30000 | &nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd., <br> 4.091%, 6/01/2029(b)<br>| &nbsp;&nbsp; 29023 |
| 215000 | &nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd., <br> 4.125%, 1/15/2031(b)<br>| &nbsp;&nbsp; 199022 |
| 60000 | &nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd., <br> 5.750%, 12/01/2034(b)<br>| &nbsp;&nbsp; 59881 |
| 275000 | &nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd., <br> 5.875%, 7/15/2030(b)<br>| &nbsp;&nbsp; 279789 |
| 90000 | &nbsp;&nbsp; Seagate Data Storage Technology Pte. Ltd., <br> 8.250%, 12/15/2029(b)<br>| &nbsp;&nbsp; 95274 |
| 200000 | Sensata Technologies BV, 4.000%, 4/15/2029(b) | &nbsp;&nbsp; 191934 |
| 565000 | Sensata Technologies, Inc., 3.750%, 2/15/2031(b) | &nbsp;&nbsp; 521426 |
| 125000 | Sensata Technologies, Inc., 4.375%, 2/15/2030(b) | &nbsp;&nbsp; 120644 |
| 200000 | Sensata Technologies, Inc., 6.625%, 7/15/2032(b) | &nbsp;&nbsp; 206956 |
| 29495 | Wolfspeed, Inc., 7.000%, 6/15/2031 | &nbsp;&nbsp; 1049 |
| 660000 | Zebra Technologies Corp., 6.500%, 6/01/2032(b) | &nbsp;&nbsp; 677870 |
| 440000 | Ziff Davis, Inc., 4.625%, 10/15/2030(b) | &nbsp;&nbsp; 414695 |
|  |  | &nbsp;&nbsp; 8170591 |
|  | **Wirelines — 0.9%** | **Wirelines — 0.9%** |
| 210000 | Altice Financing SA, 5.000%, 1/15/2028(b) | &nbsp;&nbsp; 163275 |
| 245000 | Fibercop SpA, 7.200%, 7/18/2036(b) | &nbsp;&nbsp; 246808 |
| 325000 | Level 3 Financing, Inc., 4.250%, 7/01/2028(b) | &nbsp;&nbsp; 303869 |
|  |  | &nbsp;&nbsp; 713952 |
|  | &nbsp;&nbsp; Total Non-Convertible Bonds <br>(Identified Cost $73,979,649)<br>| &nbsp;&nbsp; 69958003 |

---

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
| **Convertible Bonds — 2.5%** | **Convertible Bonds — 2.5%** | **Convertible Bonds — 2.5%** |
|  | **Cable Satellite — 0.5%** | **Cable Satellite — 0.5%** |
| $157321 | &nbsp;&nbsp; EchoStar Corp., 3.875% PIK and/or 3.875% Cash, <br> 11/30/2030(d)<br>| &nbsp;&nbsp; $387010 |
|  | **Consumer Cyclical Services — 0.2%** | **Consumer Cyclical Services — 0.2%** |
| 49000 | DoorDash, Inc., Zero Coupon, 5/15/2030(b) | &nbsp;&nbsp; 55688 |
| 20000 | Lyft, Inc., Zero Coupon, 9/15/2030(b) | &nbsp;&nbsp; 24130 |
| 48000 | MakeMyTrip Ltd., Zero Coupon, 7/01/2030(b) | &nbsp;&nbsp; 49557 |
| 33000 | &nbsp;&nbsp; Uber Technologies, Inc., Series 2028, <br> 0.875%, 12/01/2028<br>| &nbsp;&nbsp; 48510 |
|  |  | &nbsp;&nbsp; 177885 |
|  | **Diversified Manufacturing — 0.1%** | **Diversified Manufacturing — 0.1%** |
| 26000 | Advanced Energy Industries, Inc., 2.500%, 9/15/2028 | &nbsp;&nbsp; 35997 |
| 49000 | Itron, Inc., 1.375%, 7/15/2030 | &nbsp;&nbsp; 56154 |
|  |  | &nbsp;&nbsp; 92151 |
|  | **Electric — 0.1%** | **Electric — 0.1%** |
| 29000 | Evergy, Inc., 4.500%, 12/15/2027 | &nbsp;&nbsp; 36438 |
| 33000 | FirstEnergy Corp., 3.875%, 1/15/2031(b) | &nbsp;&nbsp; 35607 |
|  |  | &nbsp;&nbsp; 72045 |
|  | **Financial Other — 0.0%** | **Financial Other — 0.0%** |
| 4352 | &nbsp;&nbsp; China Aoyuan Group Ltd., Series IAI, Zero Coupon, <br> 9/30/2028<br>| &nbsp;&nbsp; 68 |
| 20533 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2025(b)<br>| &nbsp;&nbsp; 513 |
| 27375 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2026(b)<br>| &nbsp;&nbsp; 616 |
| 34221 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2027(b)<br>| &nbsp;&nbsp; 642 |
| 54752 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2028(b)<br>| &nbsp;&nbsp; 1026 |
| 54752 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2029(b)<br>| &nbsp;&nbsp; 1027 |
| 68440 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2030(b)<br>| &nbsp;&nbsp; 1283 |
| 68440 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2031(b)<br>| &nbsp;&nbsp; 1283 |
| 129118 | &nbsp;&nbsp; Kaisa Group Holdings Ltd., Zero Coupon, <br> 12/31/2032(b)<br>| &nbsp;&nbsp; 2421 |
| 223070 | &nbsp;&nbsp; Shimao Group Holdings Ltd., Zero Coupon, <br> 7/21/2026(b)<br>| &nbsp;&nbsp; 12434 |
| 43823 | &nbsp;&nbsp; Sunac China Holdings Ltd., 1.000% PIK and/or 0.000% <br> Cash, 9/30/2032(b)(d)(e)<br>| &nbsp;&nbsp; 5697 |
|  |  | &nbsp;&nbsp; 27010 |
|  | **Food & Beverage — 0.1%** | **Food & Beverage — 0.1%** |
| 76000 | Post Holdings, Inc., 2.500%, 8/15/2027 | &nbsp;&nbsp; 85272 |
|  | **Independent Energy — 0.0%** | **Independent Energy — 0.0%** |
| 36000 | Northern Oil & Gas, Inc., 3.625%, 4/15/2029 | &nbsp;&nbsp; 36054 |
|  | **Industrial Other — 0.1%** | **Industrial Other — 0.1%** |
| 26000 | Fluor Corp., 1.125%, 8/15/2029 | &nbsp;&nbsp; 30849 |
| 14000 | Granite Construction, Inc., 3.750%, 5/15/2028 | &nbsp;&nbsp; 33684 |
|  |  | &nbsp;&nbsp; 64533 |
|  | **Leisure — 0.1%** | **Leisure — 0.1%** |
| 46000 | NCL Corp. Ltd., 0.875%, 4/15/2030(b) | &nbsp;&nbsp; 54136 |
|  | **Media Entertainment — 0.1%** | **Media Entertainment — 0.1%** |
| 16000 | Sea Ltd., 2.375%, 12/01/2025 | &nbsp;&nbsp; 31592 |
| 16000 | Spotify USA, Inc., Zero Coupon, 3/15/2026 | &nbsp;&nbsp; 21864 |
|  |  | &nbsp;&nbsp; 53456 |

---

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Midstream — 0.0%** | **Midstream — 0.0%** |
| $38000 | UGI Corp., 5.000%, 6/01/2028 | &nbsp;&nbsp; $48571 |
|  | **Retailers — 0.0%** | **Retailers — 0.0%** |
| 22000 | Freshpet, Inc., 3.000%, 4/01/2028 | &nbsp;&nbsp; 24728 |
|  | **Technology — 1.2%** | **Technology — 1.2%** |
| 21000 | Cloudflare, Inc., Zero Coupon, 6/15/2030(b) | &nbsp;&nbsp; 23846 |
| 35000 | Commvault Systems, Inc., Zero Coupon, 9/15/2030(b) | &nbsp;&nbsp; 36197 |
| 100000 | CyberArk Software Ltd., Zero Coupon, 6/15/2030(b) | &nbsp;&nbsp; 111040 |
| 78000 | Datadog, Inc., Zero Coupon, 12/01/2029(b) | &nbsp;&nbsp; 77220 |
| 36000 | Euronet Worldwide, Inc., 0.625%, 10/01/2030(b) | &nbsp;&nbsp; 34290 |
| 65000 | Global Payments, Inc., 1.500%, 3/01/2031 | &nbsp;&nbsp; 59492 |
| 58000 | Guidewire Software, Inc., 1.250%, 11/01/2029(b) | &nbsp;&nbsp; 67455 |
| 8000 | InterDigital, Inc., 3.500%, 6/01/2027 | &nbsp;&nbsp; 35772 |
| 31000 | Nova Ltd., Zero Coupon, 9/15/2030(b) | &nbsp;&nbsp; 37266 |
| 57000 | Nutanix, Inc., 0.500%, 12/15/2029(b) | &nbsp;&nbsp; 64165 |
| 75000 | Rubrik, Inc., Zero Coupon, 6/15/2030(b) | &nbsp;&nbsp; 75862 |
| 13000 | Seagate HDD Cayman, 3.500%, 6/01/2028 | &nbsp;&nbsp; 37440 |
| 41000 | Snowflake, Inc., Zero Coupon, 10/01/2029 | &nbsp;&nbsp; 64185 |
| 39000 | Tyler Technologies, Inc., 0.250%, 3/15/2026 | &nbsp;&nbsp; 42803 |
| 28000 | Wix.com Ltd., Zero Coupon, 9/15/2030(b) | &nbsp;&nbsp; 30576 |
| 24000 | Wolfspeed, Inc., 2.500%, 6/15/2031 | &nbsp;&nbsp; 57360 |
| 16000 | Wolfspeed, Inc., 2.500%, 6/15/2031(b) | &nbsp;&nbsp; 38240 |
| 51000 | Zscaler, Inc., Zero Coupon, 7/15/2028(b) | &nbsp;&nbsp; 50567 |
|  |  | &nbsp;&nbsp; 943776 |
|  | &nbsp;&nbsp; Total Convertible Bonds <br>(Identified Cost $1,876,755)<br>| &nbsp;&nbsp; 2066627 |
|  | &nbsp;&nbsp; Total Bonds and Notes <br>(Identified Cost $75,856,404)<br>| &nbsp;&nbsp; 72024630 |
| **Senior Loans — 7.7%** | **Senior Loans — 7.7%** | **Senior Loans — 7.7%** |
|  | **Automotive — 0.1%** | **Automotive — 0.1%** |
| 78000 | First Brands Group LLC, 2021 Term Loan, 3/30/2027(e) | &nbsp;&nbsp; 27440 |
| 61000 | &nbsp;&nbsp; First Brands Group LLC, 2022 Incremental Term Loan, <br> 3/30/2027(e)<br>| &nbsp;&nbsp; 21483 |
|  |  | &nbsp;&nbsp; 48923 |
|  | **Brokerage — 0.8%** | **Brokerage — 0.8%** |
| 148412 | &nbsp;&nbsp; Advisor Group, Inc., 2025 Term Loan, 1 mo. USD SOFR <br> + 3.000%, 7.163%, 7/30/2032(a)(h)<br>| &nbsp;&nbsp; 148302 |
| 293350 | &nbsp;&nbsp; Edelman Financial Center LLC, 2024 Term Loan, 1 mo. <br> USD SOFR + 3.000%, 7.163%, 4/07/2028(a)(h)<br>| &nbsp;&nbsp; 293456 |
| 204499 | &nbsp;&nbsp; Russell Investments US Inst'l Holdco, Inc., 2024 PIK <br> Term Loan, 1.500% PIK and/or 3 mo. USD SOFR + <br> 5.000% Cash, 5/30/2027(a)(d)(h)<br>| &nbsp;&nbsp; 195552 |
|  |  | &nbsp;&nbsp; 637310 |
|  | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| 114203 | &nbsp;&nbsp; Chemours Co., 2023 USD Term Loan B, 1 mo. USD <br> SOFR + 3.000%, 7.163%, 8/18/2028(a)<br>| &nbsp;&nbsp; 113917 |
|  | **Consumer Cyclical Services — 1.7%** | **Consumer Cyclical Services — 1.7%** |
| 219815 | &nbsp;&nbsp; Horizon U.S. Finco LP, Term Loan B, 3 mo. USD SOFR <br> + 4.500%, 8.808%, 10/31/2031(a)(h)<br>| &nbsp;&nbsp; 215144 |
| 538842 | PUG LLC, 2024 Extended Term Loan B, 3/15/2030(i) | &nbsp;&nbsp; 533227 |
| 279844 | &nbsp;&nbsp; PUG LLC, 2024 Extended Term Loan B, 1 mo. USD <br> SOFR + 4.750%, 8.913%, 3/15/2030(a)<br>| &nbsp;&nbsp; 276928 |
| 195086 | &nbsp;&nbsp; Ryan LLC, Term Loan, 1 mo. USD SOFR + 3.500%, <br> 7.663%, 11/14/2030(a)(h)<br>| &nbsp;&nbsp; 195330 |
| 134462 | &nbsp;&nbsp; VT Topco, Inc., 2024 1st Lien Term Loan B, 1 mo. USD <br> SOFR + 3.000%, 7.163%, 8/09/2030(a)(h)<br>| &nbsp;&nbsp; 130092 |
|  |  | &nbsp;&nbsp; 1350721 |

---

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Financial Other — 0.3%** | **Financial Other — 0.3%** |
| $192845 | &nbsp;&nbsp; Dechra Pharmaceuticals Holdings Ltd., USD Term <br> Loan B, 6 mo. USD SOFR + 3.250%, <br> 7.447%, 1/27/2032(a)(h)<br>| &nbsp;&nbsp; $193126 |
| 74811 | &nbsp;&nbsp; Mermaid Bidco, Inc., 2024 USD Term Loan B, 3 mo. <br> USD SOFR + 3.250%, 7.571%, 7/03/2031(a)(h)<br>| &nbsp;&nbsp; 74640 |
|  |  | &nbsp;&nbsp; 267766 |
|  | **Healthcare — 1.2%** | **Healthcare — 1.2%** |
| 470357 | &nbsp;&nbsp; Bausch & Lomb Corp., 2025 Term Loan B, 1 mo. USD <br> SOFR + 4.250%, 8.413%, 1/15/2031(a)(h)<br>| &nbsp;&nbsp; 469966 |
| 11926 | &nbsp;&nbsp; Hanger, Inc., 2024 Delayed Draw Term Loan, <br> 3.500%, 10/23/2031(j)<br>| &nbsp;&nbsp; 11944 |
| 2094 | &nbsp;&nbsp; Hanger, Inc., 2024 Delayed Draw Term Loan, 1 mo. <br> USD SOFR + 3.500%, 7.663%, 10/23/2031(a)(h)<br>| &nbsp;&nbsp; 2098 |
| 107530 | &nbsp;&nbsp; Hanger, Inc., 2024 Term Loan B, 1 mo. USD SOFR + <br> 3.500%, 7.663%, 10/23/2031(a)(h)<br>| &nbsp;&nbsp; 107691 |
| 180696 | &nbsp;&nbsp; Inception Holdco SARL, 2025 Repriced Term Loan, <br> 4/18/2031(i)<br>| &nbsp;&nbsp; 181599 |
| 168931 | &nbsp;&nbsp; IVC Acquisition Ltd., 2025 USD Repriced Term Loan <br> B, 3 mo. USD SOFR + 3.750%, <br> 7.752%, 12/12/2028(a)(h)<br>| &nbsp;&nbsp; 169600 |
|  |  | &nbsp;&nbsp; 942898 |
|  | **Metals & Mining — 0.2%** | **Metals & Mining — 0.2%** |
| 51920 | &nbsp;&nbsp; GrafTech Finance, Inc., 2024 Delayed Draw Term <br> Loan, 3.750%, 12/21/2029(j)<br>| &nbsp;&nbsp; 52724 |
| 90859 | &nbsp;&nbsp; GrafTech Finance, Inc., 2024 Term Loan, 1 mo. USD <br> SOFR + 6.000%, 10.158%, 12/21/2029(a)(h)<br>| &nbsp;&nbsp; 92268 |
|  |  | &nbsp;&nbsp; 144992 |
|  | **Property & Casualty Insurance — 1.2%** | **Property & Casualty Insurance — 1.2%** |
| 390090 | &nbsp;&nbsp; Acrisure LLC, 2024 1st Lien Term Loan B6, 1 mo. USD <br> SOFR + 3.000%, 7.163%, 11/06/2030(a)(h)<br>| &nbsp;&nbsp; 388993 |
| 233656 | &nbsp;&nbsp; Ardonagh Midco 3 PLC, 2024 USD Term Loan B, USD <br> SOFR + 2.750%, 6.940%, 2/15/2031(a)(h)<br>| &nbsp;&nbsp; 232294 |
| 216548 | &nbsp;&nbsp; Asurion LLC, 2023 Term Loan B11, 1 mo. USD SOFR + <br> 4.250%, 8.513%, 8/19/2028(a)(h)<br>| &nbsp;&nbsp; 217166 |
| 139926 | &nbsp;&nbsp; Truist Insurance Holdings LLC, 2nd Lien Term Loan, <br> 3 mo. USD SOFR + 4.750%, 8.752%, 5/06/2032(a)(h)<br>| &nbsp;&nbsp; 142331 |
|  |  | &nbsp;&nbsp; 980784 |
|  | **Retailers — 0.2%** | **Retailers — 0.2%** |
| 205000 | &nbsp;&nbsp; Evergreen Acqco 1 LP, 2025 Term Loan B, 3 mo. USD <br> SOFR + 3.000%, 7.026%, 9/17/2032(a)(h)<br>| &nbsp;&nbsp; 205000 |
|  | **Technology — 1.8%** | **Technology — 1.8%** |
| 79988 | &nbsp;&nbsp; CommScope, Inc., 2024 Term Loan, 1 mo. USD SOFR <br> + 4.750%, 8.913%, 12/17/2029(a)(h)<br>| &nbsp;&nbsp; 80888 |
| 451001 | &nbsp;&nbsp; First Advantage Holdings LLC, 2025 Repriced Term <br> Loan B, 1 mo. USD SOFR + 2.750%, <br> 6.913%, 10/31/2031(a)(h)<br>| &nbsp;&nbsp; 439022 |
| 350755 | &nbsp;&nbsp; Fortress Intermediate 3, Inc., 2025 Term Loan B, 1 mo. <br> USD SOFR + 3.000%, 7.255%, 6/27/2031(a)(h)<br>| &nbsp;&nbsp; 351632 |
| 52467 | &nbsp;&nbsp; GoTo Group, Inc., 2024 First Out Term Loan, 3 mo. <br> USD SOFR + 4.750%, 9.218%, 4/28/2028(a)(h)<br>| &nbsp;&nbsp; 44247 |

---

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount** <br>| **Description** | **Value (†)** |
|  | **Technology — continued** | **Technology — continued** |
| $395000 | &nbsp;&nbsp; Gryphon Acquire NewCo LLC, Term Loan B, 6 mo. <br> USD SOFR + 3.000%, 6.879%, 9/13/2032(a)(h)<br>| &nbsp;&nbsp; $395865 |
| 115195 | &nbsp;&nbsp; Project Alpha Intermediate Holding, Inc., 2024 1st <br> Lien Term Loan B, 3 mo. USD SOFR + 3.250%, <br> 7.252%, 10/26/2030(a)(h)<br>| &nbsp;&nbsp; 115456 |
|  |  | &nbsp;&nbsp; 1427110 |
|  | **Wireless — 0.1%** | **Wireless — 0.1%** |
| 114710 | &nbsp;&nbsp; Crown Subsea Communications Holding, Inc., 2025 <br> Term Loan B, 1 mo. USD SOFR + 3.500%, <br> 7.663%, 1/30/2031(a)(h)<br>| &nbsp;&nbsp; 115313 |
|  | &nbsp;&nbsp; Total Senior Loans <br>(Identified Cost $6,255,513)<br>| &nbsp;&nbsp; 6234734 |

---

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Shares**<br>|  |  |
| **Preferred Stocks — 0.2%** | **Preferred Stocks — 0.2%** | **Preferred Stocks — 0.2%** |
| **Convertible Preferred Stocks — 0.2%** | **Convertible Preferred Stocks — 0.2%** | **Convertible Preferred Stocks — 0.2%** |
|  | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| 1086 | Boeing Co., 6.000% | &nbsp;&nbsp; 75553 |
|  | **Brokerage — 0.0%** | **Brokerage — 0.0%** |
| 613 | Apollo Global Management, Inc., 6.750% | &nbsp;&nbsp; 43082 |
|  | **Building Materials — 0.0%** | **Building Materials — 0.0%** |
| 400 | QXO, Inc., 5.500% | &nbsp;&nbsp; 21996 |
|  | **Electric — 0.1%** | **Electric — 0.1%** |
| 1433 | PG&E Corp., Series A, 6.000% | &nbsp;&nbsp; 56431 |
|  | &nbsp;&nbsp; Total Convertible Preferred Stocks <br>(Identified Cost $204,903)<br>| &nbsp;&nbsp; 197062 |
|  | &nbsp;&nbsp; Total Preferred Stocks <br>(Identified Cost $204,903)<br>| &nbsp;&nbsp; 197062 |
| **Common Stocks— 0.1%** | **Common Stocks— 0.1%** | **Common Stocks— 0.1%** |
|  | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
| 81 | McDermott International Ltd.(f) | &nbsp;&nbsp; 1612 |
|  | **Media — 0.0%** | **Media — 0.0%** |
| 9786 | iHeartMedia, Inc., Class A(f) | &nbsp;&nbsp; 28086 |
|  | **Oil, Gas & Consumable Fuels — 0.0%** | **Oil, Gas & Consumable Fuels — 0.0%** |
| 3650 | Battalion Oil Corp.(f) | &nbsp;&nbsp; 4417 |
|  | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** |
| 12176 | China Aoyuan Group Ltd.(f) | &nbsp;&nbsp; 180 |
| 30226 | Yuzhou Group Holdings Co. Ltd.(f) | &nbsp;&nbsp; 990 |
|  |  | &nbsp;&nbsp; 1170 |
|  | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| 2441 | Wolfspeed, Inc.(f) | &nbsp;&nbsp; 69818 |
|  | &nbsp;&nbsp; Total Common Stocks <br>(Identified Cost $1,018,981)<br>| &nbsp;&nbsp; 105103 |
| **Other Investments — 0.0%** | **Other Investments — 0.0%** | **Other Investments — 0.0%** |
|  | **Aircraft ABS — 0.0%** | **Aircraft ABS — 0.0%** |
| 100 | ECAF I Blocker, Ltd.(g)(k) | &nbsp;&nbsp; — |

---

------

---

| | | |
|:---|:---|:---|
| <br> **Shares**<br>| **Description** | **Value (†)** |
|  | **Professional Services — 0.0%** | **Professional Services — 0.0%** |
| 456218 | CFLD Cayman Trust Units(f)(g) | &nbsp;&nbsp; $2240 |
|  | &nbsp;&nbsp; Total Other Investments <br>(Identified Cost $1,002,200)<br>| &nbsp;&nbsp; 2240 |
| **Warrants — 0.0%** | **Warrants — 0.0%** | **Warrants — 0.0%** |
| 20319 | &nbsp;&nbsp; McDermott International Ltd., Tranche A, Expiration <br> on 6/30/2027(f)(g)<br>| &nbsp;&nbsp; — |
| 22577 | &nbsp;&nbsp; McDermott International Ltd., Tranche B, Expiration <br> on 6/30/2027(f)(g)<br>| &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; Total Warrants <br>(Identified Cost $31,517)<br>| &nbsp;&nbsp; — |

---

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

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>|  |  |
| **Short-Term Investments — 4.0%** | **Short-Term Investments — 4.0%** | **Short-Term Investments — 4.0%** |
| $1629508 | &nbsp;&nbsp; Tri-Party Repurchase Agreement with Fixed Income <br> Clearing Corporation, dated 9/30/2025 at 2.650% to be <br> repurchased at $1,629,628 on 10/01/2025 <br> collateralized by $1,762,200 U.S. Treasury Note, <br> 1.750% due 1/31/2029 valued at $1,662,163 including <br> accrued interest(l)<br>| &nbsp;&nbsp; 1629508 |
| 411200 | U.S. Treasury Bills, 3.859%, 12/18/2025(m)(n) | &nbsp;&nbsp; 407755 |
| 1205000 | U.S. Treasury Bills, 4.122%–4.150%, 10/30/2025(n)(o) | &nbsp;&nbsp; 1201065 |
|  | &nbsp;&nbsp; Total Short-Term Investments <br>(Identified Cost $3,238,256)<br>| &nbsp;&nbsp; 3238328 |
|  | &nbsp;&nbsp; Total Investments — 100.6% <br>(Identified Cost $87,607,774)<br>| &nbsp;&nbsp; 81802097 |
|  | Other assets less liabilities — (0.6)% | &nbsp;&nbsp; (510415)<br>|
|  | Net Assets — 100.0% | &nbsp;&nbsp; $81291682 |

---

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

------

---

| | |
|:---|:---|
| (†) | &nbsp;&nbsp;&nbsp; Registered investment companies are required to value portfolio investments using an unadjusted, readily available market quotation. The Fund obtains <br> readily available market quotations from independent pricing services. Fund investments for which readily available market quotations are not available <br> are priced at fair value pursuant to the Fund's Valuation Procedures. The Board of Trustees has approved a valuation designee who is subject to the <br> Board's oversight. <br>Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of closed-end investment <br> companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most extensively. Futures <br> contracts are valued at the closing settlement price on the exchange on which the valuation designee believes that, over time, they are traded most <br> extensively. Shares of open-end investment companies are valued at net asset value ("NAV") per share. <br>Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation as reported by an <br> independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair valued at the last sale price quoted in the <br> market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent <br> pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be fair valued using evaluated bids furnished <br> by an independent pricing service, if available. <br>Debt securities and unlisted preferred equity securities are fair valued based on evaluated bids furnished to the Fund by an independent pricing service <br> or bid prices obtained from broker-dealers. Senior loans are fair valued at bid prices supplied by an independent pricing service, if available. Broker-<br> dealer bid prices may be used to fair value debt, unlisted equities and senior loans where an independent pricing service is unable to price an investment <br> or where an independent pricing service does not provide a reliable price for the investment. Centrally cleared swap agreements are fair valued at <br> settlement prices of the clearing house on which the contracts were traded or prices obtained from broker-dealers. <br>The Fund may also fair value investments in other circumstances such as when extraordinary events occur after the close of a foreign market, but prior <br> to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of <br> the issuer's security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market <br> disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing a Fund's investments, the valuation designee may, <br> among other things, use modeling tools or other processes that may take into account factors such as issuer specific information, or other related market <br> activity and/or information that occurred after the close of the foreign market but before the time the Fund's NAV is calculated. Fair valuation by the <br> Fund's valuation designee may require subjective determinations about the value of the investment, and fair values used to determine a Fund's NAV may <br> differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the use of fair value pricing may not <br> always result in adjustments to the prices of investments held by a Fund. <br>The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in <br> currencies other than U.S. dollars, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period. <br>|

---

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Variable rate security. Rate as of September 30, 2025 is disclosed. Issuers comprised
 of various lots with differing coupon rates have been aggregated for the purpose of presentation in the Portfolio of Investments and show a weighted average
 rate. Certain variable rate securities are not based on a published reference rate and spread, rather are determined by the issuer or agent
 and are based on current market conditions. These securities may not indicate a reference rate and/or spread in their description.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All or a portion of these securities are exempt from registration under Rule 144A
 of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
 At September 30, 2025, the value of Rule 144A holdings amounted to $58,384,401 or 71.8% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Perpetual bond with no specified maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Payment–in–kind security for which the issuer, at each interest payment date, may make interest payments in cash and/or additional principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The issuer is in default with respect to interest and/or principal payments. Income
 is not being accrued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Level 3 security. Value has been determined using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Stated interest rate has been determined in accordance with the provisions of the
 loan agreement and is subject to a minimum benchmark floor rate which may range from 0.00% to 2.00%, to which the spread is added.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Position is unsettled. Contract rate was not determined at September 30, 2025 and
 does not take effect until settlement date. Maturity date is not finalized until settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Unfunded loan commitment. An unfunded loan commitment is a contractual obligation
 for future funding at the option of the borrower. The Fund receives a stated coupon rate until the borrower draws on the loan commitment, at which time
 the rate will become the stated rate in the loan agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Securities subject to restriction on resale. At September 30, 2025, the restricted
 securities held by the Fund are as follows:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Acquisition** <br>**Date**<br>| &nbsp;&nbsp; **Acquisition** <br>**Cost**<br>| **Value** | &nbsp;&nbsp; **% of** <br>**Net Assets**<br>|
| ECAF I Blocker, Ltd. | 6/18/2015 | $1000000 | $— | 0.0% |

---

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

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Fund may enter into repurchase agreements, under the terms of a Master Repurchase
 Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed
 upon price. It is the Fund's policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price,
 including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit
 of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the
 counterparty, including possible delays or restrictions upon the Fund's ability to dispose of the underlying securities. As of September 30, 2025, the Fund
 had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Security (or a portion thereof) has been pledged as collateral for open derivative
 contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Interest rate represents discount rate at time of purchase; not a coupon rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) The Fund's investment in U.S. Government/Agency securities is comprised of various
 lots with differing discount rates. These separate investments, which have the same maturity date, have been aggregated for the purpose of presentation
 in the Portfolio of Investments.

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

---

| | |
|:---|:---|
| ABS | Asset-Backed Securities |
| PIK | Payment-in-Kind |
| REITs | Real Estate Investment Trusts |
| SOFR | Secured Overnight Financing Rate |

---

**Futures Contracts**

The Fund may enter into futures contracts. Futures contracts are agreements between two parties to buy and sell a particular instrument or index for a specified price on a specified future date.

When the Fund enters into a futures contract, it is required to deposit with (or for the benefit of) its broker an amount of cash or short-term high-quality securities as "initial margin." As the value of the contract changes, the value of the futures contract position increases or declines. Subsequent payments, known as "variation margin," are made or received by the Fund, depending on the price fluctuations in the fair value of the contract and the value of cash or securities on deposit with the broker. Realized gain or loss on a futures position is equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, minus brokerage commissions. When the Fund enters into a futures contract certain risks may arise, such as illiquidity in the futures market, which may limit the Fund's ability to close out a futures contract prior to settlement date, and unanticipated movements in the value of securities or interest rates.

Futures contracts are exchange-traded. Exchange-traded futures contracts are standardized and are settled through a clearing house with fulfillment supported by the credit of the exchange. Therefore, counterparty credit risks to the Fund are reduced; however, in the event that a counterparty enters into bankruptcy, the Fund's claim against initial/variation margin on deposit with the counterparty may be subject to terms of a final settlement in bankruptcy court.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At September 30, 2025, the Fund had the following open long futures contracts: | At September 30, 2025, the Fund had the following open long futures contracts: | At September 30, 2025, the Fund had the following open long futures contracts: | At September 30, 2025, the Fund had the following open long futures contracts: | At September 30, 2025, the Fund had the following open long futures contracts: | At September 30, 2025, the Fund had the following open long futures contracts: |
| **Financial Futures** | &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| **Contracts** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| **Value** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| CBOT 2 Year U.S. Treasury Notes Futures | 12/31/2025 | 37 | &nbsp;&nbsp;&nbsp; $7706742 | &nbsp;&nbsp;&nbsp; $7710742 | &nbsp;&nbsp;&nbsp; $4000 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| At September 30, 2025, the Fund had the following open short futures contracts: | At September 30, 2025, the Fund had the following open short futures contracts: | At September 30, 2025, the Fund had the following open short futures contracts: | At September 30, 2025, the Fund had the following open short futures contracts: | At September 30, 2025, the Fund had the following open short futures contracts: | At September 30, 2025, the Fund had the following open short futures contracts: |
| **Financial Futures** | &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| **Contracts** | &nbsp;&nbsp; **Notional** <br>**Amount**<br>| **Value** | &nbsp;&nbsp; **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| CBOT 5 Year U.S. Treasury Notes Futures | 12/31/2025 | 54 | &nbsp;&nbsp;&nbsp; $5898726 | &nbsp;&nbsp;&nbsp; $5896547 | &nbsp;&nbsp;&nbsp; $2179 |
| CBOT U.S. Long Bond Futures | 12/19/2025 | 5 | &nbsp;&nbsp;&nbsp; 570771 | &nbsp;&nbsp;&nbsp; 582969 | &nbsp;&nbsp;&nbsp; (12198)<br>|
| CBOT Ultra Long-Term U.S. Treasury Bond Futures | 12/19/2025 | 1 | &nbsp;&nbsp;&nbsp; 116990 | &nbsp;&nbsp;&nbsp; 120062 | &nbsp;&nbsp;&nbsp; (3072)<br>|
| Ultra 10 Year U.S. Treasury Notes Futures | 12/19/2025 | 13 | &nbsp;&nbsp;&nbsp; 1491568 | &nbsp;&nbsp;&nbsp; 1496016 | &nbsp;&nbsp;&nbsp; (4448)<br>|
| Total |  |  |  |  | &nbsp;&nbsp;&nbsp; $(17539)<br>|

---

**Fair Value Measurements**

In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of each Fund's assets or liabilities. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — quoted prices in active markets for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect each Fund's own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Fund's pricing policies have been approved by the Board of Trustees. Investments for which market quotations are readily available are categorized in Level 1. Other investments for which an independent pricing service is utilized are categorized in Level 2. Broker-dealer bid prices for which the Fund has knowledge of the inputs used

------

by the broker-dealer are categorized in Level 2. All other investments, including broker-dealer bid prices for which the Fund does not have knowledge of the inputs used by the broker-dealer, as well as investments fair valued by the valuation designee, are categorized in Level 3. All Level 2 and 3 securities are defined as being fair valued.

Under certain conditions and based upon specific facts and circumstances, the Fund's valuation designee may determine that a fair valuation should be made for portfolio investment(s). These valuation designee fair valuations will be based upon a significant amount of Level 3 inputs.

The following is a summary of the inputs used to value the Fund's investments as of September 30, 2025, at value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** |
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Bonds and Notes |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Non-Convertible Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Construction | $— | $400619 | $— | $400619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Commercial Mortgage-Backed Securities |  | 892545 | 5900 | 898445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Other Non-Convertible Bonds(a) |  | 68658939 |  | 68658939 |
| &nbsp;&nbsp;&nbsp; Total Non-Convertible Bonds |  | 69952103 | 5900 | 69958003 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds(a) |  | 2066627 |  | 2066627 |
| Total Bonds and Notes |  | 72018730 | 5900 | 72024630 |
| Senior Loans(a) |  | 6234734 |  | 6234734 |
| Preferred Stocks(a) | 197062 |  |  | 197062 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Real Estate Management & Development | 990 | 180 |  | 1170 |
| &nbsp;&nbsp;&nbsp; All Other Common Stocks(a) | 103933 |  |  | 103933 |
| Total Common Stocks | 104923 | 180 |  | 105103 |
| Other Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aircraft ABS |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Professional Services |  |  | 2240 | 2240 |
| Total Other Investments |  |  | 2240 | 2240 |
| Warrants |  |  |  |  |
| Short-Term Investments |  | 3238328 |  | 3238328 |
| Total Investments | 301985 | 81491972 | 8140 | 81802097 |
| Futures Contracts (unrealized appreciation) | 6179 |  |  | 6179 |
| Total | $308164 | $81491972 | $8140 | $81808276 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liability Valuation Inputs** | **Liability Valuation Inputs** | **Liability Valuation Inputs** | **Liability Valuation Inputs** | **Liability Valuation Inputs** |
| **Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Futures Contracts (unrealized depreciation) | $(19718)<br>| $— | $— | $(19718)<br>|

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Details of the major categories of the Fund's investments are reflected within the Portfolio of Investments.

The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value as of December 31, 2024 and/or September 30, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** |
| Investments in Securities | Balance as of <br>December 31, <br>2024<br>| Accrued <br>Discounts <br>(Premiums)<br>| Realized <br>Gain (Loss)<br>| Change in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Purchases | Sales | Transfers <br>into <br>Level 3<br>| Transfers <br>out of <br>Level 3<br>| Balance as of <br>September 30, <br>2025<br>| Change in <br>Unrealized <br>Appreciation <br>(Depreciation) <br>from <br>Investments <br>Still Held at <br>September 30, <br>2025<br>|
| Bonds and Notes |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Non-Convertible Bonds |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Construction | $— | $— | $— | $— | $— | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Commercial <br> Mortgage-Backed Securities<br>| 46706 |  |  | (40806)<br>|  |  |  |  | 5900 | (40806)<br>|

---

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** | **Asset Valuation Inputs** |
| Investments in Securities | Balance as of<br> December 31,<br> 2024<br>| Accrued<br> Discounts<br> (Premiums)<br>| Realized<br> Gain (Loss)<br>| Change in<br> Unrealized<br> Appreciation<br> (Depreciation)<br>| Purchases | Sales | Transfers<br> into<br> Level 3<br>| Transfers<br> out of<br> Level 3<br>| Balance as of<br> September 30,<br> 2025<br>| Change in<br> Unrealized<br> Appreciation<br> (Depreciation)<br> from<br> Investments<br> Still Held at<br> September 30,<br> 2025<br>|
| Other Investments |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aircraft ABS | $— | $— | $— | $40 | $2200 | $— | $— | $— | $2240 | $40 |
| Warrants |  |  |  |  |  |  |  |  |  |  |
| Total | $46706 | $— | $— | $(40766)<br>| $2200 | $— | $— | $— | $8140 | $(40766)<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:** LOOMIS SAYLES FUNDS II

- **b. Investment Company Act file number:** 811-06241

- **c. CIK number of Registrant:** 0000872649

- **d. LEI of Registrant:** 5493007QOEDY6IHOTU14

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

  - **Street Address 1:** 888 BOYLSTON STREET

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199-8197

  - **Telephone number:** 617-449-2139

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

- **a. Name of Series:** Loomis Sayles High Income Fund

- **b. EDGAR series identifier (if any):** S000006700

- **c. LEI of Series:** 8P6ZOX2M1E9CLYYYG221

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $83840638.12

**Total Liabilities:** $2491627.98

**Net Assets:** $81349010.14

**Cash Not Reported:** $22616.75

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -2.07000000 | **1-Year:** -32.36000000 | **5-Year:** -185.74000000 | **10-Year:** -287.54000000 | **30-Year:** -74.08000000

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

- **3-Month:** -182.59000000 | **1-Year:** -6037.86000000 | **5-Year:** -16715.04000000 | **10-Year:** -4744.02000000 | **30-Year:** -525.71000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000175112 | 1.12%                | 1.31%                | 1.02%                |
| Class ID C000069253 | 0.84%                | 1.58%                | 1.02%                |
| Class ID C000018233 | 0.75%                | 1.48%                | 0.93%                |
| Class ID C000018231 | 0.82%                | 1.56%                | 1.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $185251.50               | $81598.76                                  |
| Month 2  | $106714.83               | $687157.12                                 |
| Month 3  | $-537491.52              | $882909.96                                 |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JANE STREET GRP/JSG FIN                  | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $259658.58    | 0.32%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                     | Matador Resources Co                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100956.90    | 0.12%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                | Ball Corp                                                                        | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1293758.62   | 1.59%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hercules LLC                             | Hercules LLC                                                                     | CUSIP: 427056AU0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $170651.10    | 0.21%             | 2029-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                 | Performance Food Group Inc                                                       | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40972.44     | 0.05%             | 2032-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CFLD CAYMAN INVESTMENT                   | CFLD Cayman Investment Ltd                                                       | CUSIP: 000000000<br>LEI: 3003006ZC30FH27GHL08 | Long             | DBT              | CORP              | KY        |     24752 | PA      | $611.87       | 0.00%             | 2031-01-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                     | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    240000 | PA      | $235605.60    | 0.29%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                        | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42330.28     | 0.05%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     68440 | PA      | $1283.25      | 0.00%             | 2030-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                 | Discovery Communications LLC                                                     | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    305000 | PA      | $281760.71    | 0.35%             | 2030-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| RUBRIK INC                               | Rubrik Inc                                                                       | CUSIP: 781154AC3<br>LEI: 254900TRGK2WTBYMYU27 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75862.50     | 0.09%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                    | Molina Healthcare Inc                                                            | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90999.81     | 0.11%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                 | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      5000 | PA      | $5060.13      | 0.01%             | 2029-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                     | Commercial Metals Co                                                             | CUSIP: 201723AP8<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    140000 | PA      | $130511.23    | 0.16%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| China Evergrande Group                   | China Evergrande Group                                                           | CUSIP: 000000000<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $2750.00      | 0.00%             | 2025-06-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                   | Northern Oil & Gas Inc                                                           | CUSIP: 665531AJ8<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36054.00     | 0.04%             | 2029-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                 | HAH Group Holding Co LLC                                                         | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |    270000 | PA      | $256521.19    | 0.32%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GENTING NY LLC/GENNY CAP                 | Genting New York LLC / GENNY Capital Inc                                         | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $454502.87    | 0.56%             | 2029-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     82129 | PA      | $1129.27      | 0.00%             | 2030-12-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QXO INC                                  | QXO Inc                                                                          | CUSIP: 82846H504<br>LEI: 549300HDXQWWCBOYXP31 | Long             | EP               | CORP              | US        |       400 | NS      | $21996.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMB WESTON HLD                          | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57613.40     | 0.07%             | 2030-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ZIFF DAVIS INC                           | Ziff Davis Inc                                                                   | CUSIP: 48123VAF9<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |    440000 | PA      | $414694.68    | 0.51%             | 2030-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC            | Truist Insurance Holdings LLC 2nd Lien Term Loan                                 | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    139926 | PA      | $142331.03    | 0.17%             | 2032-05-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                 | Weatherford International Ltd                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    488000 | PA      | $488339.46    | 0.60%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                        | Post Holdings Inc                                                                | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    395000 | PA      | $369028.45    | 0.45%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                        | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    790000 | PA      | $800419.07    | 0.98%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                 | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    450000 | PA      | $458680.50    | 0.56%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                             | Entegris Inc                                                                     | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23760.50     | 0.03%             | 2029-05-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                 | Shimao Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    223070 | PA      | $12433.92     | 0.02%             | 2026-07-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                   | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $292159.22    | 0.36%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                        | Post Holdings Inc                                                                | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    340000 | PA      | $349479.20    | 0.43%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                    | Molina Healthcare Inc                                                            | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    680000 | PA      | $617050.36    | 0.76%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                    | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    260000 | PA      | $276523.52    | 0.34%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                            | CommScope LLC                                                                    | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    210000 | PA      | $217371.21    | 0.27%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CORPORACION GEO SA DE CV                 | Corp GEO SAB de CV                                                               | CUSIP: 21986VAC9<br>LEI: 54930004KSSRAZ2P6765 | Long             | DBT              | CORP              | MX        |   1200000 | PA      | $12.00        | 0.00%             | 2022-03-27      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| INTESA SANPAOLO SPA                      | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HBS5<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    400000 | PA      | $338908.00    | 0.42%             | 2042-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                        | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34970.64     | 0.04%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GUIDEWIRE SOFTWARE INC                   | Guidewire Software Inc                                                           | CUSIP: 40171VAB6<br>LEI: 549300WXSG0J8IXZCK32 | Long             | DBT              | CORP              | US        |     58000 | PA      | $67455.34     | 0.08%             | 2029-11-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| FIRST ADVANTAGE HOLDINGS LLC             | First Advantage Holdings LLC 2025 Repriced Term Loan B                           | CUSIP: 78477MAH4<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |    451001 | PA      | $439022.22    | 0.54%             | 2031-10-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                  | United Rentals North America Inc                                                 | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    420000 | PA      | $397328.40    | 0.49%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                      | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56611.28     | 0.07%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     41064 | PA      | $872.61       | 0.00%             | 2028-12-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                     | Commercial Metals Co                                                             | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    205000 | PA      | $193473.38    | 0.24%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WIX LTD                                  | Wix.com Ltd                                                                      | CUSIP: 92940WAE9<br>LEI: 5493008P6N29Q1AG9464 | Long             | DBT              | CORP              | IL        |     28000 | PA      | $30576.00     | 0.04%             | 2030-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN AQUILA LTD                    | Transocean Aquila Ltd                                                            | CUSIP: 893790AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     43385 | PA      | $44626.55     | 0.05%             | 2028-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                  | United Rentals North America Inc                                                 | CUSIP: 911365BN3<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19129.97     | 0.02%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                      | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    210000 | PA      | $163275.00    | 0.20%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                       | Energy Transfer LP                                                               | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    385000 | PA      | $411419.47    | 0.51%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| iHeartMedia Inc                          | iHeartMedia Inc                                                                  | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9786 | NS      | $28085.82     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RADIOLOGY PARTNERS INC                   | Radiology Partners Inc                                                           | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    555000 | PA      | $574334.11    | 0.71%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                 | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $495352.15    | 0.61%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                 | Shimao Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |      2000 | PA      | $83.78        | 0.00%             | 2031-07-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                     | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111534.61    | 0.14%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                             | Entegris Inc                                                                     | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70982.10     | 0.09%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                    | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $421247.79    | 0.52%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                   | Northern Oil & Gas Inc                                                           | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    430000 | PA      | $436071.17    | 0.54%             | 2028-03-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG           | SEAGATE DATA STOR                                                                | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     90000 | PA      | $95274.18     | 0.12%             | 2029-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                          | Fair Isaac Corp                                                                  | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    875000 | PA      | $885887.77    | 1.09%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                   | First Brands Group LLC 2021 Term Loan                                            | CUSIP: 31935HAD9<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |     78000 | PA      | $27439.62     | 0.03%             | 2027-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                    | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    185000 | PA      | $191631.14    | 0.24%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                    | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    225000 | PA      | $253959.36    | 0.31%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Battalion Oil Corp                       | Battalion Oil Corp                                                               | CUSIP: 07134L107<br>LEI: 3XHTN2NNIMMPORDAMJ28 | Long             | EC               | CORP              | US        |      3650 | NS      | $4416.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |    129118 | PA      | $2420.96      | 0.00%             | 2032-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                            | CommScope Inc 2024 Term Loan                                                     | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |    263778 | PA      | $266745.29    | 0.33%             | 2029-12-17      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                 | AmeriTex HoldCo Intermediate LLC                                                 | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    485000 | PA      | $504782.43    | 0.62%             | 2033-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     74839 | PA      | $11038.75     | 0.01%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                        | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     30000 | PA      | $29022.86     | 0.04%             | 2029-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Dechra Pharmaceuticals Holdings Ltd      | Dechra Pharmaceuticals Holdings Ltd USD Term Loan B                              | CUSIP: 24343EAB1<br>LEI: 254900O65L5G9CGTAS28 | Long             | LON              | CORP              | US        |    192845 | PA      | $193126.42    | 0.24%             | 2032-01-27      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| GrafTech Finance Inc                     | GrafTech Finance Inc 2024 Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | LON              | CORP              | US        |     51920 | PA      | $52724.49     | 0.06%             | 2029-12-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |    115429 | PA      | $1298.58      | 0.00%             | 2032-12-28      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                            | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    928321 | PA      | $1021310.91   | 1.26%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| EURONET WORLDWIDE INC                    | Euronet Worldwide Inc                                                            | CUSIP: 298736AM1<br>LEI: YG3575C4DSHJPA5KET68 | Long             | DBT              | CORP              | US        |     36000 | PA      | $34290.00     | 0.04%             | 2030-10-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                           | Sabre GLBL Inc                                                                   | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     79000 | PA      | $76345.51     | 0.09%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                       | Osaic Holdings Inc                                                               | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    310000 | PA      | $321283.07    | 0.39%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                            | TransDigm Inc                                                                    | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    245000 | PA      | $240093.34    | 0.30%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                        | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    295000 | PA      | $291745.17    | 0.36%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EVERGREEN ACQCO 1 LP                     | EVERGREEN ACQCO 1 LP 2025 TERM LOAN B                                            | CUSIP: 30015FAJ5<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |    205000 | PA      | $205000.00    | 0.25%             | 2032-09-17      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                            | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    170000 | PA      | $162759.16    | 0.20%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                           | Open Text Corp                                                                   | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $9452.51      | 0.01%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                   | US 2YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        37 | NC      | $3999.78      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GrafTech Finance Inc                     | GrafTech Finance Inc 2024 Term Loan                                              | CUSIP: 000000000<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | LON              | CORP              | US        |     90860 | PA      | $92267.85     | 0.11%             | 2029-12-21      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                 | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAG4<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203520.00    | 0.25%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust             | CSMC 2014-USA OA LLC                                                             | CUSIP: 12649AAQ2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |   1020000 | PA      | $688245.00    | 0.85%             | 2037-09-15      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH INC                     | Dotdash Meredith Inc                                                             | CUSIP: 25849JAA8<br>LEI: 549300R2AA7U9CJUQO13 | Long             | DBT              | CORP              | US        |    325000 | PA      | $321977.50    | 0.40%             | 2032-06-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                            | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $143796.00    | 0.18%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                        | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |     26897 | PA      | $571.57       | 0.00%             | 2030-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                   | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |     19374 | PA      | $227.45       | 0.00%             | 2031-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LYFT INC                                 | Lyft Inc                                                                         | CUSIP: 55087PAE4<br>LEI: 549300H7I5VN334XVZ52 | Long             | DBT              | CORP              | US        |     20000 | PA      | $24130.00     | 0.03%             | 2030-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                   | U.S. Treasury Bills                                                              | CUSIP: 912797NA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1205000 | PA      | $1201064.63   | 1.48%             | 2025-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TYLER TECHNOLOGIES INC                   | Tyler Technologies Inc                                                           | CUSIP: 902252AB1<br>LEI: 25490040SMU4Z8LBCW70 | Long             | DBT              | CORP              | US        |     39000 | PA      | $42802.50     | 0.05%             | 2026-03-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Russell Investments US Inst'l Holdco Inc | Russell Investments US Inst'l Holdco Inc 2024 PIK Term Loan                      | CUSIP: 78249LAE0<br>LEI: 5493008YG7V0FQCJQI74 | Long             | LON              | CORP              | US        |    205786 | PA      | $196782.70    | 0.24%             | 2027-05-30      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                      | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    395000 | PA      | $375631.21    | 0.46%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                   | US 5YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -54 | NC      | $2178.60      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KINGPIN INTERMEDIATE HO                  | Kingpin Intermediate Holdings LLC                                                | CUSIP: 49579RAB4<br>LEI: 549300HRZOJTMNZCST05 | Long             | DBT              | CORP              | US        |    430000 | PA      | $408575.51    | 0.50%             | 2032-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                             | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     46557 | PA      | $1311.98      | 0.00%             | 2029-06-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                         | CSC Holdings LLC                                                                 | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    405000 | PA      | $154215.94    | 0.19%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ZHENRO PROPERTIES GROUP                  | Zhenro Properties Group Ltd                                                      | CUSIP: 000000000<br>LEI: 549300I66TVJEL841P38 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $500.00       | 0.00%             | 2026-08-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                    | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    815000 | PA      | $813803.58    | 1.00%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Starwood Retail Property Trust           | Starwood Retail Property Trust 2014-STAR                                         | CUSIP: 85571XAQ0<br>LEI: 5493007115G809OI4R97 | Long             | ABS-MBS          | CORP              | US        |    380000 | PA      | $3800.00      | 0.00%             | 2027-11-15      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| PARAMOUNT GLOBAL                         | Paramount Global                                                                 | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    660000 | PA      | $658898.55    | 0.81%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                        | Rakuten Group Inc                                                                | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    400000 | PA      | $449785.92    | 0.55%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                   | US LONG BOND(CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -5 | NC      | $-12197.57    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                               | DaVita Inc                                                                       | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    220000 | PA      | $201497.61    | 0.25%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ITRON INC                                | Itron Inc                                                                        | CUSIP: 465741AQ9<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | DBT              | CORP              | US        |     49000 | PA      | $56154.00     | 0.07%             | 2030-07-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                        | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    270000 | PA      | $285588.72    | 0.35%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                  | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    215000 | PA      | $213515.04    | 0.26%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DOORDASH INC                             | DoorDash Inc                                                                     | CUSIP: 25809KAA3<br>LEI: 549300NUQ43FGGSK5051 | Long             | DBT              | CORP              | US        |     49000 | PA      | $55688.50     | 0.07%             | 2030-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                 | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80443.15     | 0.10%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                | Bausch & Lomb Corporation 2025 Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    470357 | PA      | $469966.34    | 0.58%             | 2031-01-15      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                      | Travel + Leisure Co                                                              | CUSIP: 894164AA0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    270000 | PA      | $260851.64    | 0.32%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                           | Transocean International Ltd                                                     | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     20000 | PA      | $19972.19     | 0.02%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     37328 | PA      | $5599.20      | 0.01%             | 2026-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     27375 | PA      | $615.94       | 0.00%             | 2026-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERGY INC                               | Evergy Inc                                                                       | CUSIP: 30034WAD8<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |     29000 | PA      | $36438.50     | 0.04%             | 2027-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                    | Mineral Resources Ltd                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     20000 | PA      | $20385.88     | 0.03%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                | Esab Corp                                                                        | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190051.06    | 0.23%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                   | U.S. Treasury Bills                                                              | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    411200 | PA      | $407754.94    | 0.50%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                   | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    935000 | PA      | $897195.15    | 1.10%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                         | Sensata Technologies Inc                                                         | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120644.50    | 0.15%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                 | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81092.24     | 0.10%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                      | Synchrony Financial                                                              | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    480000 | PA      | $512205.32    | 0.63%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                 | Science Applications International Corp                                          | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    337000 | PA      | $337104.66    | 0.41%             | 2033-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                         | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    565000 | PA      | $198228.33    | 0.24%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Project Alpha Intermediate Holding, Inc. | Project Alpha Intermediate Holding Inc 2024 1st Lien Term Loan B                 | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    115486 | PA      | $115747.71    | 0.14%             | 2030-10-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| CG-CCRE Commercial Mortgage Trust        | CG-CCRE Commercial Mortgage Trust 2014-FL2                                       | CUSIP: 12528PAP7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    205885 | PA      | $42350.53     | 0.05%             | 2031-11-15      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                            | Carnival Corp                                                                    | CUSIP: 143658BV3<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     19000 | PA      | $42435.27     | 0.05%             | 2027-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                 | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    390000 | PA      | $380658.95    | 0.47%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                             | SM Energy Co                                                                     | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    280000 | PA      | $281342.04    | 0.35%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                 | Liberty Mutual Group Inc                                                         | CUSIP: 53079EBL7<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    315000 | PA      | $200207.70    | 0.25%             | 2061-02-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                        | Iron Mountain Inc                                                                | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     50000 | PA      | $51526.55     | 0.06%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                           | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119877.52    | 0.15%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WF-RBS Commercial Mortgage Trust         | WFRBS Commercial Mortgage Trust 2011-C3                                          | CUSIP: 92935VAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     32729 | PA      | $11782.59     | 0.01%             | 2044-03-15      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                  | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58419.87     | 0.07%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |    112803 | PA      | $16920.45     | 0.02%             | 2029-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                  | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              |  | US        |    195000 | PA      | $207199.59    | 0.25%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                              | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    725000 | PA      | $707146.66    | 0.87%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                    | Bausch Health Cos Inc                                                            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    115000 | PA      | $119602.20    | 0.15%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| DISH DBS Corp                            | DISH DBS Corp                                                                    | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    660000 | PA      | $653697.91    | 0.80%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DATADOG INC                              | Datadog Inc                                                                      | CUSIP: 23804LAC7<br>LEI: 549300F6JNO0KRPO1K63 | Long             | DBT              | CORP              | US        |     78000 | PA      | $77220.00     | 0.09%             | 2029-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     53124 | PA      | $7985.60      | 0.01%             | 2030-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ELEMENT COMM AVIATION                    | ELEMENT COMM AVIATION                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       100 | PA      | $0.00         | 0.00%             | N/A             | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| WOLFSPEED INC                            | Wolfspeed Inc                                                                    | CUSIP: 977852AD4<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |    285000 | PA      | $128250.00    | 0.16%             | 2029-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                      | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    180000 | PA      | $184864.94    | 0.23%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                 | SGUS LLC                                                                         | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    491264 | PA      | $463102.79    | 0.57%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                 | iHeartCommunications Inc                                                         | CUSIP: 45174HBK2<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     56000 | PA      | $43986.88     | 0.05%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                            | Open Text Holdings Inc                                                           | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $157215.08    | 0.19%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     68440 | PA      | $1283.25      | 0.00%             | 2031-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                 | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    738000 | PA      | $676192.50    | 0.83%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                    | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    385000 | PA      | $408938.15    | 0.50%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLOUDFLARE INC                           | Cloudflare Inc                                                                   | CUSIP: 18915MAE7<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |     21000 | PA      | $23845.50     | 0.03%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NOVA LTD                                 | Nova Ltd                                                                         | CUSIP: 66982MAA2<br>LEI: 529900B2DSWE5V3SC292 | Long             | DBT              | CORP              | IL        |     31000 | PA      | $37266.46     | 0.05%             | 2030-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                        | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |     33105 | PA      | $1944.28      | 0.00%             | 2029-09-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                    | Civitas Resources Inc                                                            | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    880000 | PA      | $911384.77    | 1.12%             | 2030-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| FRESHPET INC                             | Freshpet Inc                                                                     | CUSIP: 358039AB1<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | DBT              | CORP              | US        |     22000 | PA      | $24728.00     | 0.03%             | 2028-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN CO LLC                    | Teva Pharmaceutical Finance Co LLC                                               | CUSIP: 88163VAD1<br>LEI: 5493006PITD7MU7WW480 | Long             | DBT              | CORP              | US        |    295000 | PA      | $308888.60    | 0.38%             | 2036-02-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                    | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    160000 | PA      | $167704.00    | 0.21%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                   | US ULTRA BOND CBT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -1 | NC      | $-3071.60     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                          | Yum! Brands Inc                                                                  | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34006.57     | 0.04%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                            | TransDigm Inc                                                                    | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    205000 | PA      | $210825.89    | 0.26%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT                 | Apollo Global Management Inc                                                     | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |       613 | NS      | $43081.64     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                          | Yum! Brands Inc                                                                  | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    725000 | PA      | $676963.05    | 0.83%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                    | Molina Healthcare Inc                                                            | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    620000 | PA      | $573739.13    | 0.71%             | 2030-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                   | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |     48702 | PA      | $271.76       | 0.00%             | 2099-12-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                     | Times China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $6700.00      | 0.01%             | 2026-03-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                           | Whirlpool Corp                                                                   | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199588.24    | 0.25%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                 | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    510000 | PA      | $466703.70    | 0.57%             | 2032-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                         | CSC Holdings LLC                                                                 | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    325000 | PA      | $212827.88    | 0.26%             | 2030-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Starwood Retail Property Trust           | Starwood Retail Property Trust 2014-STAR                                         | CUSIP: 85571XAS6<br>LEI: 5493007115G809OI4R97 | Long             | ABS-MBS          | CORP              | US        |    420000 | PA      | $2100.00      | 0.00%             | 2027-11-15      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| BOEING CO/THE                            | Boeing Co/The                                                                    | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |      1086 | NS      | $75553.02     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                  | Zebra Technologies Corp                                                          | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |    660000 | PA      | $677870.16    | 0.83%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                            | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    575000 | PA      | $564991.72    | 0.69%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CFLDTRUSTUNT                             | CFLDTRUSTUNT                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    456218 | NS      | $2240.08      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                 | Sensata Technologies Inc                                                         | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206955.60    | 0.25%             | 2032-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                          | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89673.71     | 0.11%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mcdermott International Ltd              | Mcdermott International Ltd                                                      | CUSIP: 000000000<br>LEI: 54930004RAXI4B3L4752 | Long             | EC               | CORP              | BM        |        81 | NS      | $1611.90      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PUG LLC                                  | PUG LLC 2024 Extended Term Loan B                                                | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |    279844 | PA      | $276928.12    | 0.34%             | 2030-03-15      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| WF-RBS Commercial Mortgage Trust         | WFRBS Commercial Mortgage Trust 2012-C10                                         | CUSIP: 92890NAY5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80000 | PA      | $69440.80     | 0.09%             | 2045-12-15      | Variable      | 4.46%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                   | General Motors Financial Co Inc                                                  | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    395000 | PA      | $391390.49    | 0.48%             | 2027-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                   | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55539.17     | 0.07%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                        | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     45000 | PA      | $43380.56     | 0.05%             | 2030-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                       | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $200735.94    | 0.25%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     68440 | PA      | $1283.25      | 0.00%             | 2029-12-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                              | Hologic Inc                                                                      | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193118.32    | 0.24%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                    | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    425000 | PA      | $447379.40    | 0.55%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                        | Owens & Minor Inc                                                                | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61875.00     | 0.08%             | 2030-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                  | United Rentals North America Inc                                                 | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10398.23     | 0.01%             | 2034-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                    | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $78481.55     | 0.10%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                  | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    835000 | PA      | $623168.93    | 0.77%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                  | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    220000 | PA      | $3658.60      | 0.00%             | 2023-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     54752 | PA      | $1026.60      | 0.00%             | 2029-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                     | LifePoint Health Inc                                                             | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    265000 | PA      | $252412.50    | 0.31%             | 2029-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                           | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    310000 | PA      | $326240.59    | 0.40%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                 | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    160000 | PA      | $127649.60    | 0.16%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ADVANCED ENERGY IND                      | Advanced Energy Industries Inc                                                   | CUSIP: 007973AE0<br>LEI: 549300756XI3QLFT2U27 | Long             | DBT              | CORP              | US        |     26000 | PA      | $35997.00     | 0.04%             | 2028-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Crown Subsea Communications Holding,Inc. | Crown Subsea Communications HoldingInc 2025 Term Loan B                          | CUSIP: 22860EAK8<br>LEI: 5493003AYLUE132FIO27 | Long             | LON              | CORP              | US        |    114710 | PA      | $115312.56    | 0.14%             | 2031-01-30      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| CG-CCRE Commercial Mortgage Trust        | CG-CCRE Commercial Mortgage Trust 2014-FL2                                       | CUSIP: 12528PAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     91504 | PA      | $28278.25     | 0.03%             | 2031-11-15      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     37238 | PA      | $5417.38      | 0.01%             | 2025-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                 | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    165000 | PA      | $155734.94    | 0.19%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                            | EchoStar Corp                                                                    | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    157321 | PA      | $387009.66    | 0.48%             | 2030-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                             | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     87176 | PA      | $1274.51      | 0.00%             | 2031-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOTO GROUP INC                           | GoTo Group Inc                                                                   | CUSIP: 38349YAA3<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |    156744 | PA      | $126962.64    | 0.16%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                       | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    460000 | PA      | $475104.56    | 0.58%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Chemours Company (The)                   | Chemours Company (The) 2023 USD Term Loan B                                      | CUSIP: 16384YAJ6<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |    114202 | PA      | $113916.87    | 0.14%             | 2028-08-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                 | Discovery Communications LLC                                                     | CUSIP: 25470DBZ1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    260000 | PA      | $238594.20    | 0.29%             | 2040-06-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                        | Iron Mountain Inc                                                                | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    110000 | PA      | $108289.27    | 0.13%             | 2029-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                        | Iron Mountain Inc                                                                | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    470000 | PA      | $448627.17    | 0.55%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                      | Resideo Funding Inc                                                              | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    295000 | PA      | $302346.98    | 0.37%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                       | Ardonagh Finco Ltd                                                               | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |   1000000 | PA      | $1046389.00   | 1.29%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                           | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    460000 | PA      | $478993.86    | 0.59%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                    | GFL Environmental Inc                                                            | CUSIP: 36168QAP9<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     85000 | PA      | $82926.80     | 0.10%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HANGER INC                               | Hanger Inc 2024 Term Loan B                                                      | CUSIP: 41043BAH1<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |    107800 | PA      | $107961.73    | 0.13%             | 2031-10-23      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                 | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    495000 | PA      | $480836.32    | 0.59%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                       | Viking Cruises Ltd                                                               | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    257000 | PA      | $257180.36    | 0.32%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                      | Resideo Funding Inc                                                              | CUSIP: 76119LAB7<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    505000 | PA      | $482381.05    | 0.59%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                   | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |      4352 | PA      | $67.72        | 0.00%             | 2028-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HORIZON US FINCO LP                      | Horizon US Finco LP Term Loan B                                                  | CUSIP: 44057XAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    219815 | PA      | $215144.20    | 0.26%             | 2031-10-31      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                | Block Inc                                                                        | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    455000 | PA      | $423433.33    | 0.52%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                | PG&E Corp                                                                        | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |      1433 | NS      | $56431.54     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                         | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1064621.59   | 1.31%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| GRANITE CONSTRUCTION INC                 | Granite Construction Inc                                                         | CUSIP: 387328AD9<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | DBT              | CORP              | US        |     14000 | PA      | $33684.00     | 0.04%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                        | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     60000 | PA      | $59880.60     | 0.07%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                               | Arcosa Inc                                                                       | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131272.12    | 0.16%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                              | Asurion LLC 2023 Term Loan B11                                                   | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    216548 | PA      | $217165.63    | 0.27%             | 2028-08-19      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| EDELMAN FINANCIAL CENTER LLC             | Edelman Financial Center LLC 2024 Term Loan                                      | CUSIP: 27943UAM8<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |    293350 | PA      | $293455.78    | 0.36%             | 2028-04-07      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| VT TOPCO INC                             | VT Topco Inc 2024 1st Lien Term Loan B                                           | CUSIP: 91838LAK6<br>LEI: 5493007T812R37X02Y38 | Long             | LON              | CORP              | US        |    134462 | PA      | $130092.03    | 0.16%             | 2030-08-09      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     27375 | PA      | $684.38       | 0.00%             | 2027-12-28      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |    123194 | PA      | $1385.93      | 0.00%             | 2031-12-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust    | Wells Fargo Commercial Mortgage Trust 2016-C36                                   | CUSIP: 95000MBV2<br>LEI: 549300BSYX29G4VVM177 | Long             | ABS-MBS          | CORP              | US        |     60000 | PA      | $52447.86     | 0.06%             | 2059-11-15      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                 | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    205000 | PA      | $209612.91    | 0.26%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                              | Chemours Co/The                                                                  | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    130000 | PA      | $117449.44    | 0.14%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HighTower Holdings LLC                   | HighTower Holdings LLC 2025 1st Lien Term Loan B                                 | CUSIP: 43117LAP8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | LON              | CORP              | US        |     83874 | PA      | $83717.19     | 0.10%             | 2032-02-03      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                   | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $547900.50    | 0.67%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY/WARRANTY                   | Amynta Agency Borrower Inc and Amynta Warranty Borrower Inc                      | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $373630.79    | 0.46%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Acrisure, LLC                            | Acrisure LLC 2024 1st Lien Term Loan B6                                          | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |    390090 | PA      | $388993.45    | 0.48%             | 2030-11-06      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                    | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $185493.30    | 0.23%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MERMAID BIDCO INC                        | Mermaid Bidco Inc 2024 USD Term Loan B                                           | CUSIP: 59012CAL9<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |     74811 | PA      | $74639.76     | 0.09%             | 2031-07-03      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN IV                        | Teva Pharmaceutical Finance Netherlands IV BV                                    | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |    465000 | PA      | $478907.69    | 0.59%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                        | Post Holdings Inc                                                                | CUSIP: 737446AT1<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     76000 | PA      | $85272.00     | 0.10%             | 2027-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP HOLDINGS CCASS 29           | YUZHOU GROUP HOLDINGS CCASS 29                                                   | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | EC               | CORP              | HK        |     30226 | NS      | $990.45       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BAUSCH HEALTH COS INC                    | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    525000 | PA      | $469875.00    | 0.58%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COMMVAULT SYSTEMS INC                    | Commvault Systems Inc                                                            | CUSIP: 204166AA0<br>LEI: 65T5VRP62VXG39YFML83 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36197.00     | 0.04%             | 2030-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                      | Travel + Leisure Co                                                              | CUSIP: 894164AC6<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199390.04    | 0.25%             | 2033-09-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                             | Fibercop SpA                                                                     | CUSIP: 683879AF7<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    245000 | PA      | $246807.57    | 0.30%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                       | Murphy Oil USA Inc                                                               | CUSIP: 626738AF5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    260000 | PA      | $241813.88    | 0.30%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                           | NRG Energy Inc                                                                   | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     69000 | PA      | $63586.29     | 0.08%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                 | PetSmart LLC / PetSmart Finance Corp                                             | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    665000 | PA      | $665988.38    | 0.82%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                     | Commercial Metals Co                                                             | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    340000 | PA      | $326191.41    | 0.40%             | 2030-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ZSCALER INC.                             | Zscaler Inc                                                                      | CUSIP: 98980GAC6<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | DBT              | CORP              | US        |     51000 | PA      | $50566.50     | 0.06%             | 2028-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FLUOR CORP                               | Fluor Corp                                                                       | CUSIP: 343412AJ1<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |     26000 | PA      | $30849.00     | 0.04%             | 2029-08-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                | Block Inc                                                                        | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    320000 | PA      | $331201.92    | 0.41%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |    112530 | PA      | $16854.74     | 0.02%             | 2028-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                 | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc        | CUSIP: 43283QAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    860000 | PA      | $873462.44    | 1.07%             | 2032-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESOR                 | Marriott Ownership Resorts Inc                                                   | CUSIP: 57164PAH9<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    630000 | PA      | $607919.32    | 0.75%             | 2029-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                   | Northern Oil & Gas Inc                                                           | CUSIP: 665530AB7<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    415000 | PA      | $428734.43    | 0.53%             | 2031-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                        | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    275000 | PA      | $279789.40    | 0.34%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                            | ZF North America Capital Inc                                                     | CUSIP: 98877DAE5<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    205000 | PA      | $203005.35    | 0.25%             | 2030-04-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                    | Directv Financing LLC                                                            | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $545440.50    | 0.67%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                      | NCL Corp Ltd                                                                     | CUSIP: 62886HBS9<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     46000 | PA      | $54136.25     | 0.07%             | 2030-04-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| EASY TACTIC LTD                          | Easy Tactic Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300WYFMC41MKE6E16 | Long             | DBT              | CORP              | VG        |    230109 | PA      | $5883.89      | 0.01%             | 2027-07-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HANGER INC                               | Hanger Inc 2024 Delayed Draw Term Loan                                           | CUSIP: 41043BAJ7<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |     14020 | PA      | $14041.01     | 0.02%             | 2031-10-23      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| GRAFTECH FINANCE INC                     | GrafTech Finance Inc                                                             | CUSIP: 384311AC0<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | DBT              | CORP              | US        |     65000 | PA      | $45761.95     | 0.06%             | 2029-12-23      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                         | TriNet Group Inc                                                                 | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20658.54     | 0.03%             | 2031-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                    | Mineral Resources Ltd                                                            | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    625000 | PA      | $654880.63    | 0.81%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                            | TopBuild Corp                                                                    | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    610000 | PA      | $607782.55    | 0.75%             | 2034-01-31      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                     | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    290000 | PA      | $289072.13    | 0.36%             | 2030-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                               | DaVita Inc                                                                       | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38335.56     | 0.05%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                 | Solstice Advanced Materials Inc                                                  | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    262000 | PA      | $262865.61    | 0.32%             | 2033-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                        | Post Holdings Inc                                                                | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14940.12     | 0.02%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                             | Entegris Inc                                                                     | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92953.16     | 0.11%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                      | Travel + Leisure Co                                                              | CUSIP: 98310WAQ1<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    190000 | PA      | $183135.24    | 0.23%             | 2030-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                             | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     23258 | PA      | $126.52       | 0.00%             | 2034-06-30      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                    | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance  | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    690000 | PA      | $716254.50    | 0.88%             | 2031-05-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                            | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10202.40     | 0.01%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                        | Imola Merger Corp                                                                | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $306376.75    | 0.38%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     34221 | PA      | $641.64       | 0.00%             | 2027-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                         | CSC Holdings LLC                                                                 | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $128989.04    | 0.16%             | 2031-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                        | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |     35369 | PA      | $574.75       | 0.00%             | 2031-09-30      | Fixed         | 9.80%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp               | FIXED INC CLEARING CORP.REPO                                                     | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1629508 | PA      | $1629508.02   | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                        | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46081.53     | 0.06%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $371962.17    | 0.46%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                             | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     62143 | PA      | $1332.97      | 0.00%             | 2030-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INCEPTION HOLDCO SARL                    | Inception Holdco Sarl 2025 USD Term Loan B                                       | CUSIP: 45073SAB1<br>LEI: 549300V0LY56J9HGCK92 | Long             | LON              | CORP              | US        |    180696 | PA      | $181599.09    | 0.22%             | 2031-04-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                 | Sensata Technologies Inc                                                         | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    565000 | PA      | $521426.47    | 0.64%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| INTERDIGITAL INC                         | InterDigital Inc                                                                 | CUSIP: 45867GAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8000 | PA      | $35772.00     | 0.04%             | 2027-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                        | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    140000 | PA      | $146273.40    | 0.18%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                     | Oceaneering International Inc                                                    | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177164.40    | 0.22%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                    | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAD0<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87565.05     | 0.11%             | 2033-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                         | Lamar Media Corp                                                                 | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $96286.46     | 0.12%             | 2033-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                   | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    940000 | PA      | $931614.82    | 1.15%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     20533 | PA      | $513.33       | 0.00%             | 2025-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                    | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    320000 | PA      | $353603.20    | 0.43%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                             | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     31535 | PA      | $4036.16      | 0.00%             | 2027-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                 | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    160000 | PA      | $163327.36    | 0.20%             | 2033-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                  | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $78666.92     | 0.10%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                 | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    835000 | PA      | $816696.80    | 1.00%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ASHLAND INC                              | Ashland Inc                                                                      | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |    160000 | PA      | $141723.52    | 0.17%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                            | TransDigm Inc                                                                    | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    390000 | PA      | $398736.39    | 0.49%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fortress Intermediate 3, Inc             | Fortress Intermediate 3 Inc 2025 Term Loan B                                     | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |    350755 | PA      | $351631.94    | 0.43%             | 2031-06-27      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                         | TriNet Group Inc                                                                 | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    625000 | PA      | $584583.44    | 0.72%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NUTANIX INC                              | Nutanix Inc                                                                      | CUSIP: 67059NAJ7<br>LEI: 549300X7J6E8TKVIXW09 | Long             | DBT              | CORP              | US        |     57000 | PA      | $64165.03     | 0.08%             | 2029-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                  | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $191934.47    | 0.24%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                 | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    225000 | PA      | $221080.64    | 0.27%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                         | FirstEnergy Corp                                                                 | CUSIP: 337932AU1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     33000 | PA      | $35607.00     | 0.04%             | 2031-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| China Aoyuan Group Ltd                   | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | EC               | CORP              | KY        |     12176 | NS      | $179.94       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IVC ACQUISITION LTD                      | IVC Acquisition Ltd 2025 USD Repriced Term Loan B                                | CUSIP: 000000000<br>LEI: 254900WZMD2JOGND1Z32 | Long             | LON              | CORP              | CA        |    168931 | PA      | $169600.15    | 0.21%             | 2028-12-12      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                  | United Rentals North America Inc                                                 | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     65000 | PA      | $60214.78     | 0.07%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                             | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     26736 | PA      | $968.38       | 0.00%             | 2028-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UGI CORP                                 | UGI Corp                                                                         | CUSIP: 902681AB1<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | DBT              | CORP              | US        |     38000 | PA      | $48570.51     | 0.06%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd                    | Mineral Resources Ltd                                                            | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     65000 | PA      | $64997.79     | 0.08%             | 2027-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD                 | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |     54752 | PA      | $1026.60      | 0.00%             | 2028-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG           | SEAGATE DATA STOR                                                                | CUSIP: 81180LAN5<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    215000 | PA      | $199022.41    | 0.24%             | 2031-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                        | Chord Energy Corp                                                                | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124129.66    | 0.15%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                 | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    750000 | PA      | $706817.55    | 0.87%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AGILE GROUP HOLDINGS LTD                 | Agile Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300ZRISRT38EEYY07 | Long             | DBT              | CORP              | KY        |    210000 | PA      | $11946.90     | 0.01%             | 2025-10-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                   | First Brands Group LLC 2022 Incremental Term Loan                                | CUSIP: 31935HAG2<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |     61000 | PA      | $21483.59     | 0.03%             | 2027-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                   | Brundage-Bone Concrete Pumping Holdings Inc                                      | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $116189.79    | 0.14%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                           | NRG Energy Inc                                                                   | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96479.25     | 0.12%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    715000 | PA      | $731039.34    | 0.90%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                            | TransDigm Inc                                                                    | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    195000 | PA      | $202046.33    | 0.25%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                           | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    185000 | PA      | $186448.96    | 0.23%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CFLD CAYMAN INVESTMENT                   | CFLD Cayman Investment Ltd                                                       | CUSIP: 000000000<br>LEI: 3003006ZC30FH27GHL08 | Long             | DBT              | CORP              | KY        |    112735 | PA      | $3382.05      | 0.00%             | 2031-01-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                 | HLF Financing Sarl LLC / Herbalife International Inc                             | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $79131.74     | 0.10%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                   | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $190003.54    | 0.23%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                    | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    330000 | PA      | $347217.95    | 0.43%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WOLFSPEED INC                            | Wolfspeed Inc                                                                    | CUSIP: 977852AB8<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |     20000 | PA      | $9000.00      | 0.01%             | 2028-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                 | Fortescue Treasury Pty Ltd                                                       | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     60000 | PA      | $57284.25     | 0.07%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                     | Matador Resources Co                                                             | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    450000 | PA      | $452114.55    | 0.56%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CYBERARK SOFTWARE LTD                    | CyberArk Software Ltd                                                            | CUSIP: 23248VAC9<br>LEI: 529900YEXNDM894PWS93 | Long             | DBT              | CORP              | IL        |    100000 | PA      | $111039.81    | 0.14%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                      | Global Payments Inc                                                              | CUSIP: 37940XAU6<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     65000 | PA      | $59491.56     | 0.07%             | 2031-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ZHENRO PROPERTIES GROUP                  | Zhenro Properties Group Ltd                                                      | CUSIP: 000000000<br>LEI: 549300I66TVJEL841P38 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $984.00       | 0.00%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                 | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     43823 | PA      | $5696.99      | 0.01%             | 2032-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                  | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              |  | US        |    160000 | PA      | $117681.47    | 0.14%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                       | Seagate HDD Cayman                                                               | CUSIP: 81180WBL4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |     13000 | PA      | $37440.00     | 0.05%             | 2028-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                   | U.S. Treasury Bills                                                              | CUSIP: 912797QE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    200000 | PA      | $199819.49    | 0.25%             | 2025-10-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                    | Molina Healthcare Inc                                                            | CUSIP: 000000000<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68267.05     | 0.08%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                        | Clean Harbors Inc                                                                | CUSIP: 184496AP2<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188421.08    | 0.23%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                         | CSC Holdings LLC                                                                 | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    215000 | PA      | $155698.06    | 0.19%             | 2028-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                     | Oceaneering International Inc                                                    | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91113.12     | 0.11%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                            | TransDigm Inc                                                                    | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75843.22     | 0.09%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                            | ZF North America Capital Inc                                                     | CUSIP: 98877DAD7<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303717.00    | 0.37%             | 2028-04-14      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                 | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    735000 | PA      | $731147.20    | 0.90%             | 2033-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                    | Level 3 Financing Inc                                                            | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    325000 | PA      | $303869.05    | 0.37%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                    | Civitas Resources Inc                                                            | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165847.84    | 0.20%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SATURN OIL & GAS INC                     | Saturn Oil & Gas Inc                                                             | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |    186000 | PA      | $192689.00    | 0.24%             | 2029-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Ryan LLC                                 | Ryan LLC Term Loan                                                               | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |    195085 | PA      | $195329.33    | 0.24%             | 2030-11-14      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| GRAFTECH GLOBAL ENTERPRI                 | GrafTech Global Enterprises Inc                                                  | CUSIP: 38431AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $72763.40     | 0.09%             | 2029-12-23      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                   | US 10YR ULTRA FUT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -13 | NC      | $-4447.82     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY INC                           | NRG Energy Inc                                                                   | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    265000 | PA      | $244998.99    | 0.30%             | 2031-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC               | GRYPHON ACQUIRE NEWCO LLC TERM LOAN B                                            | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    395000 | PA      | $395865.05    | 0.49%             | 2032-09-13      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                         | GGAM Finance Ltd                                                                 | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    275000 | PA      | $278436.55    | 0.34%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| INCEPTION HOLDCO SARL                    | INCEPTION HOLDCO SARL 2025 REPRICED TERM LOAN                                    | CUSIP: 000000000<br>LEI: 5493006UQZEOC4WP0469 | Long             | LON              | CORP              | LU        |    180696 | PA      | $181599.09    | 0.22%             | 2031-04-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mcdermott International Ltd              | Mcdermott International Ltd                                                      | CUSIP: 000000000<br>LEI: 54930004RAXI4B3L4752 | N/A              | DE               |  | BM        |     22577 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ARCOSA INC                               | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67892.05     | 0.08%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                          | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    375000 | PA      | $354420.56    | 0.44%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SEA LTD                                  | Sea Ltd                                                                          | CUSIP: 81141RAF7<br>LEI: 529900OM6JLLW44YKI15 | Long             | DBT              | CORP              | KY        |     16000 | PA      | $31592.00     | 0.04%             | 2025-12-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| SNOWFLAKE INC                            | Snowflake Inc                                                                    | CUSIP: 833445AD1<br>LEI: 254900CJNSY1K7T53Z16 | Long             | DBT              | CORP              | US        |     41000 | PA      | $64185.50     | 0.08%             | 2029-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SPOTIFY USA INC                          | Spotify USA Inc                                                                  | CUSIP: 84921RAB6<br>LEI: 2138008WM218QBKRII94 | Long             | DBT              | CORP              | US        |     16000 | PA      | $21864.00     | 0.03%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Advisor Group Inc                        | Advisor Group Inc 2025 Term Loan                                                 | CUSIP: 68773JAG5<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |    148412 | PA      | $148302.67    | 0.18%             | 2032-07-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                    | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $93379.89     | 0.11%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                   | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $437065.90    | 0.54%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                            | Open Text Holdings Inc                                                           | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $738891.58    | 0.91%             | 2030-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Mcdermott International Ltd              | Mcdermott International Ltd                                                      | CUSIP: 000000000<br>LEI: 54930004RAXI4B3L4752 | N/A              | DE               |  | BM        |     20319 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CFLD CAYMAN INVESTMENT                   | CFLD Cayman Investment Ltd                                                       | CUSIP: 000000000<br>LEI: 3003006ZC30FH27GHL08 | Long             | DBT              | CORP              | KY        |    213200 | PA      | $6396.00      | 0.01%             | 2031-01-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                 | Builders FirstSource Inc                                                         | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    575000 | PA      | $600376.21    | 0.74%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                            | ZF North America Capital Inc                                                     | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146381.90    | 0.18%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                        | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    160000 | PA      | $166211.20    | 0.20%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MAKEMYTRIP LIMITED                       | MakeMyTrip Ltd                                                                   | CUSIP: 56087FAC8<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | DBT              | CORP              | MU        |     48000 | PA      | $49556.64     | 0.06%             | 2030-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARDONAGH MIDCO 3 PLC                     | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |    233656 | PA      | $232294.22    | 0.29%             | 2031-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                           | Sabre GLBL Inc                                                                   | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    321000 | PA      | $325596.79    | 0.40%             | 2027-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                    | Uber Technologies Inc                                                            | CUSIP: 90353TAM2<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     33000 | PA      | $48510.00     | 0.06%             | 2028-12-01      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                           | Ryan Specialty LLC                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    320000 | PA      | $323579.52    | 0.40%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                      | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $113697.18    | 0.14%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GoTo Group Inc                           | GoTo Group Inc 2024 First Out Term Loan                                          | CUSIP: 38349FAC0<br>LEI: 549300D12V5KRBV00592 | Long             | LON              | CORP              | US        |     52467 | PA      | $44247.26     | 0.05%             | 2028-04-28      | Floating      | 9.22%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                    | Civitas Resources Inc                                                            | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    155000 | PA      | $158799.21    | 0.20%             | 2031-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                            | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    614267 | PA      | $633278.56    | 0.78%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DSLA Mortgage Loan Trust                 | DSLA Mortgage Loan Trust 2005-AR5                                                | CUSIP: 23332UFF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     96756 | PA      | $50420.07     | 0.06%             | 2045-09-19      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-17

**Name of Applicant:** LOOMIS SAYLES FUNDS II

**Signature:** John Sgroi

**Name of Signer:** John Sgroi

**Title:** Assistant Treasurer