# EDGAR Filing Document

**Accession Number:** 0001517936
**File Stem:** 0000940400-25-002918
**Filing Date:** 2025-9
**Character Count:** 210173
**Document Hash:** f1547172da4a4111aa2ee83df640b6e4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002918.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000940400-25-002918

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND IV
- **CENTRAL INDEX KEY:** 0001517936

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22559
- **FILM NUMBER:** 251349202

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

## Series and Classes Contracts Data

### First Trust Tactical High Yield ETF (Series ID: S000039493)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000121641 | First Trust Tactical High Yield ETF | HYLS            |

## Nport-Ex

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments**

**July 31, 2025 (Unaudited)**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES — 75.4%** | **CORPORATE BONDS AND NOTES — 75.4%** | **CORPORATE BONDS AND NOTES — 75.4%** | **CORPORATE BONDS AND NOTES — 75.4%** | **CORPORATE BONDS AND NOTES — 75.4%** |
|  | **Aerospace & Defense — 1.2%** | **Aerospace & Defense — 1.2%** | **Aerospace & Defense — 1.2%** |  |
| $684000 | Amentum Holdings, Inc. (a) | 7.25% | 08/01/32 | $708109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1035000 | Axon Enterprise, Inc. (a) | 6.13% | 03/15/30 | 1059634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690000 | Axon Enterprise, Inc. (a) | 6.25% | 03/15/33 | 708610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4931000 | TransDigm, Inc. (a) | 6.63% | 03/01/32 | 5076558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1663000 | TransDigm, Inc. (a) | 6.00% | 01/15/33 | 1672668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10652000 | TransDigm, Inc. (a) | 6.38% | 05/31/33 | 10746292 |
|  |  |  |  | 19971871 |
|  | **Alternative Carriers — 0.8%** | **Alternative Carriers — 0.8%** | **Alternative Carriers — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2057000 | Cogent Communications Group LLC / Cogent Finance, Inc. (a) | 6.50% | 07/01/32 | 2018396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10544039 | Level 3 Financing, Inc. (a) (b) | 11.00% | 11/15/29 | 11967748 |
|  |  |  |  | 13986144 |
|  | **Apparel Retail — 0.7%** | **Apparel Retail — 0.7%** | **Apparel Retail — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7064000 | Hanesbrands, Inc. (a) | 9.00% | 02/15/31 | 7444008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1600000 | Nordstrom, Inc. | 4.00% | 03/15/27 | 1573267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2854000 | Nordstrom, Inc. | 4.38% | 04/01/30 | 2602043 |
|  |  |  |  | 11619318 |
|  | **Apparel, Accessories & Luxury Goods — 0.1%** | **Apparel, Accessories & Luxury Goods — 0.1%** | **Apparel, Accessories & Luxury Goods — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1378000 | Under Armour, Inc. (a) | 7.25% | 07/15/30 | 1409378 |
|  | **Application Software — 4.4%** | **Application Software — 4.4%** | **Application Software — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3299000 | Cloud Software Group, Inc. (a) | 6.50% | 03/31/29 | 3333920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8351000 | Cloud Software Group, Inc. (a) | 9.00% | 09/30/29 | 8648220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8070000 | Cloud Software Group, Inc. (a) | 8.25% | 06/30/32 | 8599239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2140000 | Ellucian Holdings, Inc. (a) | 6.50% | 12/01/29 | 2173204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5632950 | GoTo Group, Inc. (a) | 5.50% | 05/01/28 | 1929285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12000000 | McAfee Corp. (a) | 7.38% | 02/15/30 | 11139049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3487000 | Open Text Holdings, Inc. (a) | 4.13% | 12/01/31 | 3177132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 15391000 | RingCentral, Inc. (a) (b) | 8.50% | 08/15/30 | 16369698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16664000 | UKG, Inc. (a) (b) | 6.88% | 02/01/31 | 17118761 |
|  |  |  |  | 72488508 |
|  | **Asset Management & Custody Banks — 0.3%** | **Asset Management & Custody Banks — 0.3%** | **Asset Management & Custody Banks — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3665000 | Osaic Holdings, Inc. (a) (c) | 6.75% | 08/01/32 | 3712136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1380000 | Osaic Holdings, Inc. (a) (c) | 8.00% | 08/01/33 | 1403458 |
|  |  |  |  | 5115594 |
|  | **Automobile Manufacturers — 0.5%** | **Automobile Manufacturers — 0.5%** | **Automobile Manufacturers — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6631000 | Ford Motor Co. | 9.63% | 04/22/30 | 7688417 |
|  | **Automotive Retail — 0.3%** | **Automotive Retail — 0.3%** | **Automotive Retail — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5659000 | Mavis Tire Express Services Topco Corp. (a) | 6.50% | 05/15/29 | 5596660 |
|  | **Broadcasting — 2.1%** | **Broadcasting — 2.1%** | **Broadcasting — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7254000 | Gray Media, Inc. (a) | 4.75% | 10/15/30 | 5431432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 23148800 | iHeartCommunications, Inc. (a) | 10.88% | 05/01/30 | 11523704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13895000 | Sinclair Television Group, Inc. (a) (b) | 5.13% | 02/15/27 | 13407732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 857000 | Sirius XM Radio LLC (a) | 5.50% | 07/01/29 | 847063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | Sirius XM Radio LLC (a) | 4.13% | 07/01/30 | 3652495 |
|  |  |  |  | 34862426 |
|  | **Building Products — 3.5%** | **Building Products — 3.5%** | **Building Products — 3.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3086000 | Advanced Drainage Systems, Inc. (a) | 6.38% | 06/15/30 | 3135396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | Builders FirstSource, Inc. (a) | 4.25% | 02/01/32 | 92373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9914000 | Builders FirstSource, Inc. (a) | 6.38% | 03/01/34 | 10072217 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Building Products (Continued)** | **Building Products (Continued)** | **Building Products (Continued)** |  |
| $16601000 | Builders FirstSource, Inc. (a) (b) | 6.75% | 05/15/35 | $17041755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4474000 | CP Atlas Buyer, Inc. (a) | 9.75% | 07/15/30 | 4517353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2708000 | Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC (a) | 6.75% | 04/01/32 | 2766520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6557000 | Standard Building Solutions, Inc. (a) | 6.50% | 08/15/32 | 6700480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3647000 | Standard Building Solutions, Inc. (a) | 6.25% | 08/01/33 | 3684551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1392000 | Standard Industries, Inc. (a) | 5.00% | 02/15/27 | 1392164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1426000 | Standard Industries, Inc. (a) | 4.75% | 01/15/28 | 1407604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2492000 | Standard Industries, Inc. (a) | 4.38% | 07/15/30 | 2360906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Standard Industries, Inc. (a) | 3.38% | 01/15/31 | 894190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3750000 | TopBuild Corp. (a) | 3.63% | 03/15/29 | 3536848 |
|  |  |  |  | 57602357 |
|  | **Cable & Satellite — 3.4%** | **Cable & Satellite — 3.4%** | **Cable & Satellite — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1431000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 4.75% | 03/01/30 | 1360779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4747000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 4.50% | 08/15/30 | 4444807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7781000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 7.38% | 03/01/31 | 8004120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 4.50% | 05/01/32 | 908104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5800000 | CSC Holdings LLC (a) | 6.50% | 02/01/29 | 4587722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 18851000 | CSC Holdings LLC (a) | 4.50% | 11/15/31 | 12577763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17162000 | DISH Network Corp. (a) | 11.75% | 11/15/27 | 17888313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6882315 | EchoStar Corp. | 10.75% | 11/30/29 | 7257780 |
|  |  |  |  | 57029388 |
|  | **Casinos & Gaming — 2.2%** | **Casinos & Gaming — 2.2%** | **Casinos & Gaming — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6062000 | Boyd Gaming Corp. (a) | 4.75% | 06/15/31 | 5777822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5662000 | Caesars Entertainment, Inc. (a) | 4.63% | 10/15/29 | 5354829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173000 | Caesars Entertainment, Inc. (a) | 7.00% | 02/15/30 | 178563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6201000 | Caesars Entertainment, Inc. (a) | 6.00% | 10/15/32 | 5990013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8292000 | &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., <br> Inc. (a) | 6.75% | 01/15/30 | 7807816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2587000 | Light & Wonder International, Inc. (a) | 7.50% | 09/01/31 | 2698448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5026000 | &nbsp;&nbsp;&nbsp; Scientific Games Holdings, L.P. / Scientific Games US FinCo, <br> Inc. (a) | 6.63% | 03/01/30 | 4845278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3311000 | Station Casinos LLC (a) | 4.50% | 02/15/28 | 3238949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592000 | Station Casinos LLC (a) | 4.63% | 12/01/31 | 554386 |
|  |  |  |  | 36446104 |
|  | **Commercial & Residential Mortgage Finance — 0.3%** | **Commercial & Residential Mortgage Finance — 0.3%** | **Commercial & Residential Mortgage Finance — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4556000 | Rocket Cos., Inc. (a) | 6.38% | 08/01/33 | 4652738 |
|  | **Commercial Printing — 0.3%** | **Commercial Printing — 0.3%** | **Commercial Printing — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5067000 | LABL, Inc. (a) | 8.63% | 10/01/31 | 4214581 |
|  | **Construction & Engineering — 0.9%** | **Construction & Engineering — 0.9%** | **Construction & Engineering — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2442000 | AECOM (a) | 6.00% | 08/01/33 | 2463502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8615000 | Pike Corp. (a) | 5.50% | 09/01/28 | 8586908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3365000 | Pike Corp. (a) | 8.63% | 01/31/31 | 3622732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697000 | Williams Scotsman, Inc. (a) | 6.63% | 04/15/30 | 719182 |
|  |  |  |  | 15392324 |
|  | **Construction Materials — 1.0%** | **Construction Materials — 1.0%** | **Construction Materials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3580000 | JH North America Holdings, Inc. (a) | 6.13% | 07/31/32 | 3619827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12509000 | Quikrete Holdings, Inc. (a) (b) | 6.75% | 03/01/33 | 12837540 |
|  |  |  |  | 16457367 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Consumer Finance — 0.9%** | **Consumer Finance — 0.9%** | **Consumer Finance — 0.9%** |  |
| $1381000 | EZCORP, Inc. (a) | 7.38% | 04/01/32 | $1441709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | FirstCash, Inc. (a) | 4.63% | 09/01/28 | 2935680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9796000 | FirstCash, Inc. (a) | 6.88% | 03/01/32 | 10054173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709000 | Navient Corp. | 7.88% | 06/15/32 | 739112 |
|  |  |  |  | 15170674 |
|  | **Diversified Metals & Mining — 0.1%** | **Diversified Metals & Mining — 0.1%** | **Diversified Metals & Mining — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1373000 | SCIH Salt Holdings, Inc. (a) | 4.88% | 05/01/28 | 1334348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700000 | SCIH Salt Holdings, Inc. (a) | 6.63% | 05/01/29 | 692593 |
|  |  |  |  | 2026941 |
|  | **Diversified Support Services — 0.4%** | **Diversified Support Services — 0.4%** | **Diversified Support Services — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1945000 | RB Global Holdings, Inc. (a) | 6.75% | 03/15/28 | 1993414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4522000 | RB Global Holdings, Inc. (a) | 7.75% | 03/15/31 | 4744672 |
|  |  |  |  | 6738086 |
|  | **Electric Utilities — 2.0%** | **Electric Utilities — 2.0%** | **Electric Utilities — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3096000 | Alpha Generation LLC (a) | 6.75% | 10/15/32 | 3170886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 26977000 | Lightning Power LLC (a) (b) | 7.25% | 08/15/32 | 28223823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1359000 | Vistra Operations Co. LLC (a) | 7.75% | 10/15/31 | 1439415 |
|  |  |  |  | 32834124 |
|  | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 667000 | Sensata Technologies, Inc. (a) | 3.75% | 02/15/31 | 609211 |
|  | **Environmental & Facilities Services — 1.1%** | **Environmental & Facilities Services — 1.1%** | **Environmental & Facilities Services — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2675000 | Allied Universal Holdco LLC (a) | 7.88% | 02/15/31 | 2806896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4616000 | Allied Universal Holdco LLC / Allied Universal Finance Corp. (a) | 6.88% | 06/15/30 | 4728589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590000 | Waste Pro USA, Inc. (a) | 7.00% | 02/01/33 | 8934141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1312000 | Wrangler Holdco Corp. (a) | 6.63% | 04/01/32 | 1356579 |
|  |  |  |  | 17826205 |
|  | **Fertilizers & Agricultural Chemicals — 0.3%** | **Fertilizers & Agricultural Chemicals — 0.3%** | **Fertilizers & Agricultural Chemicals — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1498000 | Scotts Miracle-Gro (The) Co. | 4.50% | 10/15/29 | 1437203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Scotts Miracle-Gro (The) Co. | 4.00% | 04/01/31 | 1828963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2027000 | Scotts Miracle-Gro (The) Co. | 4.38% | 02/01/32 | 1845049 |
|  |  |  |  | 5111215 |
|  | **Food Distributors — 1.2%** | **Food Distributors — 1.2%** | **Food Distributors — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1397000 | US Foods, Inc. (a) | 4.75% | 02/15/29 | 1369435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8582000 | US Foods, Inc. (a) | 7.25% | 01/15/32 | 8951987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9700000 | US Foods, Inc. (a) | 5.75% | 04/15/33 | 9635041 |
|  |  |  |  | 19956463 |
|  | **Health Care Facilities — 2.2%** | **Health Care Facilities — 2.2%** | **Health Care Facilities — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8103000 | AHP Health Partners, Inc. (a) | 5.75% | 07/15/29 | 7833466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 657000 | Concentra Health Services, Inc. (a) | 6.88% | 07/15/32 | 675882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | HCA, Inc. | 5.50% | 06/15/47 | 3703622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | HCA, Inc. | 5.25% | 06/15/49 | 6195226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17799000 | Select Medical Corp. (a) (b) | 6.25% | 12/01/32 | 17774768 |
|  |  |  |  | 36182964 |
|  | **Health Care Services — 1.2%** | **Health Care Services — 1.2%** | **Health Care Services — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10371000 | Raven Acquisition Holdings LLC (a) | 6.88% | 11/15/31 | 10500916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8661000 | Service Corp. International | 5.75% | 10/15/32 | 8692353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1378000 | Surgery Center Holdings, Inc. (a) | 7.25% | 04/15/32 | 1418592 |
|  |  |  |  | 20611861 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Health Care Supplies — 1.3%** | **Health Care Supplies — 1.3%** | **Health Care Supplies — 1.3%** |  |
| $3200000 | 180 Medical, Inc. (a) | 3.88% | 10/15/29 | $3033724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8780000 | Medline Borrower, L.P. (a) (b) | 3.88% | 04/01/29 | 8378755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10253000 | Medline Borrower, L.P. (a) | 5.25% | 10/01/29 | 10059084 |
|  |  |  |  | 21471563 |
|  | **Health Care Technology — 1.1%** | **Health Care Technology — 1.1%** | **Health Care Technology — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 17722000 | AthenaHealth Group, Inc. (a) (b) | 6.50% | 02/15/30 | 17435823 |
|  | **Homebuilding — 0.2%** | **Homebuilding — 0.2%** | **Homebuilding — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2886000 | Ashton Woods USA LLC / Ashton Woods Finance Co. (a) | 6.88% | 08/01/33 | 2882184 |
|  | **Hotels, Resorts & Cruise Lines — 0.4%** | **Hotels, Resorts & Cruise Lines — 0.4%** | **Hotels, Resorts & Cruise Lines — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688000 | RHP Hotel Properties, L.P. / RHP Finance Corp. (a) | 6.50% | 06/15/33 | 705082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5957000 | Vail Resorts, Inc. (a) | 6.50% | 05/15/32 | 6126245 |
|  |  |  |  | 6831327 |
|  | **Household Products — 0.9%** | **Household Products — 0.9%** | **Household Products — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5613000 | Energizer Holdings, Inc. (a) | 6.50% | 12/31/27 | 5700619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9851000 | Energizer Holdings, Inc. (a) | 4.38% | 03/31/29 | 9351517 |
|  |  |  |  | 15052136 |
|  | **Housewares & Specialties — 0.4%** | **Housewares & Specialties — 0.4%** | **Housewares & Specialties — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1031000 | Newell Brands, Inc. (a) | 8.50% | 06/01/28 | 1082935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5449000 | Newell Brands, Inc. | 6.63% | 05/15/32 | 5224657 |
|  |  |  |  | 6307592 |
|  | **Human Resource & Employment Services — 1.0%** | **Human Resource & Employment Services — 1.0%** | **Human Resource & Employment Services — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8537000 | TriNet Group, Inc. (a) | 7.13% | 08/15/31 | 8793332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9953000 | ZipRecruiter, Inc. (a) | 5.00% | 01/15/30 | 7541773 |
|  |  |  |  | 16335105 |
|  | **Industrial Machinery & Supplies & Components — 0.7%** | **Industrial Machinery & Supplies & Components — 0.7%** | **Industrial Machinery & Supplies & Components — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1189000 | EMRLD Borrower, L.P. / Emerald Co-Issuer, Inc. (a) | 6.63% | 12/15/30 | 1213801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1679000 | Gates Corp. (a) | 6.88% | 07/01/29 | 1729924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5265000 | Madison IAQ LLC (a) | 5.88% | 06/30/29 | 5130754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2705000 | SPX FLOW, Inc. (a) | 8.75% | 04/01/30 | 2796283 |
|  |  |  |  | 10870762 |
|  | **Insurance Brokers — 12.7%** | **Insurance Brokers — 12.7%** | **Insurance Brokers — 12.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Acrisure LLC / Acrisure Finance, Inc. (a) | 6.00% | 08/01/29 | 2928750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 19370000 | Acrisure LLC / Acrisure Finance, Inc. (a) (b) | 7.50% | 11/06/30 | 20023524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | Acrisure LLC / Acrisure Finance, Inc. (a) | 6.75% | 07/01/32 | 4052515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13365000 | &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC / Alliant Holdings Co-<br> Issuer (a) (b) | 6.75% | 10/15/27 | 13387761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17412000 | &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC / Alliant Holdings Co-<br> Issuer (a) (b) | 6.75% | 04/15/28 | 17661427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1790000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (a) | 5.88% | 11/01/29 | 1764148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4657000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (a) | 6.50% | 10/01/31 | 4730460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1331000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (a) | 7.38% | 10/01/32 | 1369901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10017000 | AmWINS Group, Inc. (a) | 6.38% | 02/15/29 | 10206822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12457000 | AmWINS Group, Inc. (a) (b) | 4.88% | 06/30/29 | 12109775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | Arthur J. Gallagher & Co. | 5.75% | 03/02/53 | 6807180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Arthur J. Gallagher & Co. | 6.75% | 02/15/54 | 3279686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3287000 | Arthur J. Gallagher & Co. | 5.75% | 07/15/54 | 3183344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 14817000 | AssuredPartners, Inc. (a) (b) | 5.63% | 01/15/29 | 14800915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3025000 | AssuredPartners, Inc. (a) | 7.50% | 02/15/32 | 3232400 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Insurance Brokers (Continued)** | **Insurance Brokers (Continued)** | **Insurance Brokers (Continued)** |  |
| $19730000 | &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC / Baldwin Insurance <br> Group Holdings Finance (a) (b) | 7.13% | 05/15/31 | $20387798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8120000 | BroadStreet Partners, Inc. (a) | 5.88% | 04/15/29 | 8072784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8230000 | HUB International Ltd. (a) | 5.63% | 12/01/29 | 8178206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11902000 | HUB International Ltd. (a) (b) | 7.25% | 06/15/30 | 12414512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9750000 | HUB International Ltd. (a) | 7.38% | 01/31/32 | 10158267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 21394000 | Panther Escrow Issuer LLC (a) (b) | 7.13% | 06/01/31 | 22137172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8152000 | Ryan Specialty LLC (a) | 5.88% | 08/01/32 | 8181706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | USI, Inc. (a) | 7.50% | 01/15/32 | 2114114 |
|  |  |  |  | 211183167 |
|  | **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6913000 | Cars.com, Inc. (a) | 6.38% | 11/01/28 | 6904534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6797000 | Snap, Inc. (a) | 6.88% | 03/01/33 | 6974375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1356000 | ZoomInfo Technologies LLC / ZoomInfo Finance Corp. (a) | 3.88% | 02/01/29 | 1276205 |
|  |  |  |  | 15155114 |
|  | **Internet Services & Infrastructure — 0.3%** | **Internet Services & Infrastructure — 0.3%** | **Internet Services & Infrastructure — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | Go Daddy Operating Co. LLC / GD Finance Co., Inc. (a) | 5.25% | 12/01/27 | 3489824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 993000 | Go Daddy Operating Co. LLC / GD Finance Co., Inc. (a) | 3.50% | 03/01/29 | 932918 |
|  |  |  |  | 4422742 |
|  | **Investment Banking & Brokerage — 0.3%** | **Investment Banking & Brokerage — 0.3%** | **Investment Banking & Brokerage — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2271000 | Jane Street Group / JSG Finance, Inc. (a) | 6.13% | 11/01/32 | 2254908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2056000 | Jane Street Group / JSG Finance, Inc. (a) | 6.75% | 05/01/33 | 2105470 |
|  |  |  |  | 4360378 |
|  | **IT Consulting & Other Services — 0.0%** | **IT Consulting & Other Services — 0.0%** | **IT Consulting & Other Services — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690000 | CACI International, Inc. (a) | 6.38% | 06/15/33 | 706416 |
|  | **Leisure Facilities — 0.7%** | **Leisure Facilities — 0.7%** | **Leisure Facilities — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2031000 | Life Time, Inc. (a) | 6.00% | 11/15/31 | 2047258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717000 | SeaWorld Parks & Entertainment, Inc. (a) | 5.25% | 08/15/29 | 698675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3352000 | Six Flags Entertainment Corp. (a) | 7.25% | 05/15/31 | 3418912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. / Canada's Wonderland Co. / <br> Magnum Management Corp. | 5.38% | 04/15/27 | 849423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. / Canada's Wonderland Co. / <br> Magnum Management Corp. | 5.25% | 07/15/29 | 243109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4671000 | &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. / Six Flags Theme Parks, Inc. / <br> Canada's Wonderland Co. (a) | 6.63% | 05/01/32 | 4759945 |
|  |  |  |  | 12017322 |
|  | **Leisure Products — 0.2%** | **Leisure Products — 0.2%** | **Leisure Products — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1595000 | Acushnet Co. (a) | 7.38% | 10/15/28 | 1663523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1299000 | Amer Sports Co. (a) | 6.75% | 02/16/31 | 1352338 |
|  |  |  |  | 3015861 |
|  | **Life Sciences Tools & Services — 1.5%** | **Life Sciences Tools & Services — 1.5%** | **Life Sciences Tools & Services — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6815000 | Avantor Funding, Inc. (a) | 4.63% | 07/15/28 | 6667613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950000 | Charles River Laboratories International, Inc. (a) | 4.25% | 05/01/28 | 921619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Charles River Laboratories International, Inc. (a) | 3.75% | 03/15/29 | 942788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4291000 | Charles River Laboratories International, Inc. (a) | 4.00% | 03/15/31 | 3942039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3672000 | Fortrea Holdings, Inc. (a) | 7.50% | 07/01/30 | 3361887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5979000 | IQVIA, Inc. (a) | 6.50% | 05/15/30 | 6169162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3372000 | Star Parent, Inc. (a) | 9.00% | 10/01/30 | 3550206 |
|  |  |  |  | 25555314 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Managed Health Care — 1.2%** | **Managed Health Care — 1.2%** | **Managed Health Care — 1.2%** |  |
| $6885000 | HealthEquity, Inc. (a) | 4.50% | 10/01/29 | $6636455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3032000 | Molina Healthcare, Inc. (a) | 4.38% | 06/15/28 | 2904508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4739000 | Molina Healthcare, Inc. (a) | 3.88% | 05/15/32 | 4140971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6142000 | Molina Healthcare, Inc. (a) | 6.25% | 01/15/33 | 6067517 |
|  |  |  |  | 19749451 |
|  | **Metal, Glass & Plastic Containers — 1.0%** | **Metal, Glass & Plastic Containers — 1.0%** | **Metal, Glass & Plastic Containers — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697000 | Ball Corp. | 6.88% | 03/15/28 | 711981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8648000 | Ball Corp. | 2.88% | 08/15/30 | 7774727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4250000 | Ball Corp. | 3.13% | 09/15/31 | 3807368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3674000 | Magnera Corp. (a) | 7.25% | 11/15/31 | 3461973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1350000 | Owens-Brockway Glass Container, Inc. (a) | 7.38% | 06/01/32 | 1361885 |
|  |  |  |  | 17117934 |
|  | **Office Services & Supplies — 0.7%** | **Office Services & Supplies — 0.7%** | **Office Services & Supplies — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11269000 | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc. (a) (b) | 6.75% | 08/15/32 | 11648709 |
|  | **Oil & Gas Refining & Marketing — 1.4%** | **Oil & Gas Refining & Marketing — 1.4%** | **Oil & Gas Refining & Marketing — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 18000000 | Venture Global LNG, Inc. (a) (d) | 9.00% | (e) | 18020790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2357000 | Venture Global LNG, Inc. (a) | 8.38% | 06/01/31 | 2439585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2020000 | Venture Global LNG, Inc. (a) | 9.88% | 02/01/32 | 2180729 |
|  |  |  |  | 22641104 |
|  | **Oil & Gas Storage & Transportation — 1.1%** | **Oil & Gas Storage & Transportation — 1.1%** | **Oil & Gas Storage & Transportation — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720000 | Rockies Express Pipeline LLC (a) | 6.75% | 03/15/33 | 748838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343000 | Venture Global Plaquemines LNG LLC (a) | 7.50% | 05/01/33 | 370635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12101000 | Venture Global Plaquemines LNG LLC (a) (b) | 7.75% | 05/01/35 | 13275909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4148000 | Venture Global Plaquemines LNG LLC (a) | 6.75% | 01/15/36 | 4269663 |
|  |  |  |  | 18665045 |
|  | **Other Specialty Retail — 0.1%** | **Other Specialty Retail — 0.1%** | **Other Specialty Retail — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | PetSmart, Inc. / PetSmart Finance Corp. (a) | 7.75% | 02/15/29 | 1959775 |
|  | **Packaged Foods & Meats — 3.5%** | **Packaged Foods & Meats — 3.5%** | **Packaged Foods & Meats — 3.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6292000 | BellRing Brands, Inc. (a) | 7.00% | 03/15/30 | 6533455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6489000 | Fiesta Purchaser, Inc. (a) | 7.88% | 03/01/31 | 6864661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5179000 | Fiesta Purchaser, Inc. (a) | 9.63% | 09/15/32 | 5485954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1126000 | Lamb Weston Holdings, Inc. (a) | 4.88% | 05/15/28 | 1115162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5707000 | Lamb Weston Holdings, Inc. (a) | 4.38% | 01/31/32 | 5337364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8398000 | Performance Food Group, Inc. (a) | 6.13% | 09/15/32 | 8538557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 15834000 | Post Holdings, Inc. (a) (b) | 6.25% | 02/15/32 | 16149540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647000 | Post Holdings, Inc. (a) | 6.38% | 03/01/33 | 8662099 |
|  |  |  |  | 58686792 |
|  | **Paper & Plastic Packaging Products & Materials — 3.1%** | **Paper & Plastic Packaging Products & Materials — 3.1%** | **Paper & Plastic Packaging Products & Materials — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3439000 | Clydesdale Acquisition Holdings, Inc. (a) | 6.75% | 04/15/32 | 3524924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 32934000 | Graham Packaging Co., Inc. (a) (b) | 7.13% | 08/15/28 | 32910844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Graphic Packaging International LLC (a) | 3.50% | 03/01/29 | 938391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2353000 | Graphic Packaging International LLC (a) | 3.75% | 02/01/30 | 2201459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4955000 | Graphic Packaging International LLC (a) | 6.38% | 07/15/32 | 5020961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1434000 | Sealed Air Corp. (a) | 5.00% | 04/15/29 | 1415646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2351000 | Sealed Air Corp. / Sealed Air Corp. U.S. (a) | 6.13% | 02/01/28 | 2374941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2251000 | Sealed Air Corp. / Sealed Air Corp. U.S. (a) | 7.25% | 02/15/31 | 2342514 |
|  |  |  |  | 50729680 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Passenger Ground Transportation — 0.3%** | **Passenger Ground Transportation — 0.3%** | **Passenger Ground Transportation — 0.3%** |  |
| $5161000 | Avis Budget Car Rental LLC / Avis Budget Finance, Inc. (a) | 8.25% | 01/15/30 | $5315314 |
|  | **Rail Transportation — 0.3%** | **Rail Transportation — 0.3%** | **Rail Transportation — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5234000 | Genesee & Wyoming, Inc. (a) | 6.25% | 04/15/32 | 5300880 |
|  | **Real Estate Operating Companies — 0.5%** | **Real Estate Operating Companies — 0.5%** | **Real Estate Operating Companies — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7577000 | Service Properties Trust | 8.88% | 06/15/32 | 7929717 |
|  | **Real Estate Services — 0.1%** | **Real Estate Services — 0.1%** | **Real Estate Services — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1771000 | Cushman & Wakefield US Borrower LLC (a) | 8.88% | 09/01/31 | 1899720 |
|  | **Research & Consulting Services — 0.6%** | **Research & Consulting Services — 0.6%** | **Research & Consulting Services — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1457000 | Clarivate Science Holdings Corp. (a) | 3.88% | 07/01/28 | 1393928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413000 | Clarivate Science Holdings Corp. (a) | 4.88% | 07/01/29 | 7885863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696000 | CoreLogic, Inc. (a) | 4.50% | 05/01/28 | 656642 |
|  |  |  |  | 9936433 |
|  | **Restaurants — 0.6%** | **Restaurants — 0.6%** | **Restaurants — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1182000 | Brinker International, Inc. (a) | 8.25% | 07/15/30 | 1254802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5299000 | Papa John's International, Inc. (a) | 3.88% | 09/15/29 | 5070499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2703000 | Raising Cane's Restaurants LLC (a) | 9.38% | 05/01/29 | 2855357 |
|  |  |  |  | 9180658 |
|  | **Security & Alarm Services — 0.6%** | **Security & Alarm Services — 0.6%** | **Security & Alarm Services — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1311000 | Brink's (The) Co. (a) | 6.50% | 06/15/29 | 1344319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9090000 | Brink's (The) Co. (a) | 6.75% | 06/15/32 | 9372281 |
|  |  |  |  | 10716600 |
|  | **Specialized Consumer Services — 0.5%** | **Specialized Consumer Services — 0.5%** | **Specialized Consumer Services — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1055000 | Aramark Services, Inc. (a) | 5.00% | 02/01/28 | 1045730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7625000 | Wand NewCo 3, Inc. (a) | 7.63% | 01/30/32 | 8012434 |
|  |  |  |  | 9058164 |
|  | **Systems Software — 1.1%** | **Systems Software — 1.1%** | **Systems Software — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8094000 | Gen Digital, Inc. (a) | 7.13% | 09/30/30 | 8372773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4763000 | Gen Digital, Inc. (a) | 6.25% | 04/01/33 | 4867681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1742000 | SS&C Technologies, Inc. (a) | 5.50% | 09/30/27 | 1743808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3357000 | SS&C Technologies, Inc. (a) | 6.50% | 06/01/32 | 3455018 |
|  |  |  |  | 18439280 |
|  | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3502000 | Fair Isaac Corp. (a) | 6.00% | 05/15/33 | 3527199 |
|  | **Trading Companies & Distributors — 4.3%** | **Trading Companies & Distributors — 4.3%** | **Trading Companies & Distributors — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1366000 | EquipmentShare.com, Inc. (a) | 9.00% | 05/15/28 | 1441370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3613000 | EquipmentShare.com, Inc. (a) | 8.00% | 03/15/33 | 3775332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1719000 | Herc Holdings, Inc. (a) | 6.63% | 06/15/29 | 1761171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12893000 | Herc Holdings, Inc. (a) | 7.25% | 06/15/33 | 13360358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16927000 | QXO Building Products, Inc. (a) (b) | 6.75% | 04/30/32 | 17473302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 22026000 | United Rentals North America, Inc. (a) (b) | 6.00% | 12/15/29 | 22437688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7533000 | Veritiv Operating Co. (a) | 10.50% | 11/30/30 | 8174262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2050000 | WESCO Distribution, Inc. (a) | 6.38% | 03/15/33 | 2100338 |
|  |  |  |  | 70523821 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Transaction & Payment Processing Services — 0.2%** | **Transaction & Payment Processing Services — 0.2%** | **Transaction & Payment Processing Services — 0.2%** |  |
| $1362000 | Boost Newco Borrower LLC (a) | 7.50% | 01/15/31 | $1440915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1842000 | WEX, Inc. (a) | 6.50% | 03/15/33 | 1867361 |
|  |  |  |  | 3308276 |
|  | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | 1251538277 |
|  | (Cost $1,251,951,974) | (Cost $1,251,951,974) | (Cost $1,251,951,974) |  |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Rate (f)** | **Stated** <br>**Maturity (g)**<br>| **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS — 20.8%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 20.8%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 20.8%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 20.8%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 20.8%** |
|  | **Advertising — 0.3%** | **Advertising — 0.3%** | **Advertising — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4247264 | &nbsp;&nbsp;&nbsp; WH Borrower LLC (WHP), Term Loan B, 3 Mo. CME Term SOFR <br> + 4.75%, 0.50% Floor  | 9.07% | 02/20/32 | 4252912 |
|  | **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3755126 | &nbsp;&nbsp;&nbsp; Spirit Aerosystems, Inc., Term Loan B, 3 Mo. CME Term SOFR + <br> 4.50%, 0.50% Floor  | 8.81% | 01/15/27 | 3767330 |
|  | **Application Software — 3.8%** | **Application Software — 3.8%** | **Application Software — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 13137173 | &nbsp;&nbsp;&nbsp; Darktrace PLC (Leia Finco US LLC), Term Loan (Second Lien), 3 <br> Mo. CME Term SOFR + 5.25%, 0.00% Floor  | 9.57% | 10/09/32 | 13202859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2992500 | &nbsp;&nbsp;&nbsp; Ellucian Holdings, Inc., Refi Term Loan B, 1 Mo. CME Term <br> SOFR + 2.75%, 0.50% Floor  | 7.11% | 10/07/29 | 3000460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4245677 | &nbsp;&nbsp;&nbsp; Inmar, Inc., Refi Term Loan, 3 Mo. CME Term SOFR + 4.50%, <br> 0.00% Floor  | 8.80% | 10/30/31 | 4281043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9948835 | &nbsp;&nbsp;&nbsp; Internet Brands, Inc. (WebMD / MH Sub I LLC), 2023 New Term <br> Loan B, 1 Mo. CME Term SOFR + 4.25%, 0.50% Floor  | 8.61% | 05/03/28 | 9514220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7476343 | &nbsp;&nbsp;&nbsp; LogMeIn, Inc. (GoTo Group, Inc.), First Out Term Loan (First <br> Lien), 3 Mo. CME Term SOFR + CSA + 4.75%, 0.00% Floor  | 9.22% | 04/30/28 | 6616563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6193483 | &nbsp;&nbsp;&nbsp; LogMeIn, Inc. (GoTo Group, Inc.), Second Out Term Loan (First <br> Lien), 3 Mo. CME Term SOFR + CSA + 4.75%, 0.00% Floor  | 9.22% | 04/30/28 | 2345782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1644264 | &nbsp;&nbsp;&nbsp; McAfee Corp. (Condor Merger Sub, Inc.), Term Loan B-1, 1 Mo. <br> CME Term SOFR + 3.00%, 0.50% Floor  | 7.33% | 03/01/29 | 1593563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5116145 | &nbsp;&nbsp;&nbsp; Qlik Technologies (Project Alpha Intermediate Holding, Inc.), Term <br> Loan (Second Lien), 3 Mo. CME Term SOFR + 5.00%, 0.50% <br> Floor  | 9.30% | 05/08/33 | 5125763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3946745 | &nbsp;&nbsp;&nbsp; SolarWinds Holdings, Inc. (Starlight Parent LLC), Term Loan B, 1 <br> Mo. CME Term SOFR + 4.00%, 0.00% Floor  | 8.34% | 04/16/32 | 3907278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6945876 | &nbsp;&nbsp;&nbsp; Solera Holdings, Inc. (Polaris Newco), Term Loan B, 3 Mo. CME <br> Term SOFR + CSA + 3.75%, 0.50% Floor  | 8.32% | 06/04/28 | 6827380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6774194 | &nbsp;&nbsp;&nbsp; X.AI LLC (Project Xerxes), Fixed Rate Term Loan, Fixed Rate at <br> 12.50%  | 12.50% | 06/30/30 | 6821376 |
|  |  |  |  | 63236287 |
|  | **Asset Management & Custody Banks — 0.6%** | **Asset Management & Custody Banks — 0.6%** | **Asset Management & Custody Banks — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7001746 | &nbsp;&nbsp;&nbsp; Edelman Financial Engines Center LLC, Term Loan (Second Lien), <br> 1 Mo. CME Term SOFR + 5.25%, 0.00% Floor  | 9.61% | 10/06/28 | 7057165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3147960 | &nbsp;&nbsp;&nbsp; Jump Financial LLC, Term Loan B, 3 Mo. CME Term SOFR + <br> CSA + 3.50%, 0.00% Floor (h) | 7.80% | 02/26/32 | 3147960 |
|  |  |  |  | 10205125 |
|  | **Automotive Retail — 0.4%** | **Automotive Retail — 0.4%** | **Automotive Retail — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6309337 | &nbsp;&nbsp;&nbsp; Mavis Tire Express Services Topco Corp., Refi Term Loan B, 3 <br> Mo. CME Term SOFR + 3.00%, 0.75% Floor  | 7.33% | 05/04/28 | 6324448 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Rate (f)** | **Stated**<br> **Maturity (g)**<br>| **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Data Processing & Outsourced Services — 0.3%** | **Data Processing & Outsourced Services — 0.3%** | **Data Processing & Outsourced Services — 0.3%** |  |
| $3533415 | &nbsp;&nbsp;&nbsp; Consilio (Skopima Consilio Parent LLC), Refi Term Loan B, 1 Mo. <br> CME Term SOFR + 3.75%, 0.50% Floor  | 8.11% | 05/17/28 | $3496420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1012334 | &nbsp;&nbsp;&nbsp; Paysafe Holdings (US) Corp., Facility B1 Loan, 3 Mo. CME Term <br> SOFR + CSA + 2.75%, 0.50% Floor  | 7.34% | 06/28/28 | 1012755 |
|  |  |  |  | 4509175 |
|  | **Diversified Support Services — 0.3%** | **Diversified Support Services — 0.3%** | **Diversified Support Services — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4383644 | &nbsp;&nbsp;&nbsp; Vestis Corp., Term Loan B-1, 3 Mo. CME Term SOFR + 2.25%, <br> 0.00% Floor  | 6.58% | 02/22/31 | 4208299 |
|  | **Drug Retail — 0.1%** | **Drug Retail — 0.1%** | **Drug Retail — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1004851 | &nbsp;&nbsp;&nbsp; Boots Group Finco, L.P., Term Loan B, 1 Mo. CME Term SOFR + <br> 3.50%, 0.00% Floor  | 7.85% | 07/17/32 | 1005484 |
|  | **Electronic Equipment & Instruments — 0.9%** | **Electronic Equipment & Instruments — 0.9%** | **Electronic Equipment & Instruments — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5890998 | &nbsp;&nbsp;&nbsp; Chamberlain Group, Inc. (Chariot), Extended Term Loan, 1 Mo. <br> CME Term SOFR + CSA + 3.00%, 0.00% Floor  | 7.71% | 09/01/32 | 5895887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3101322 | &nbsp;&nbsp;&nbsp; Convergint Technologies (DG Investment Intermediate Holdings 2, <br> Inc.), Term Loan (Second Lien), 1 Mo. CME Term SOFR + <br> 5.50%, 0.00% Floor  | 9.86% | 07/31/33 | 3093569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1332313 | &nbsp;&nbsp;&nbsp; Convergint Technologies (DG Investment Intermediate Holdings 2, <br> Inc.), Term Loan B, 1 Mo. CME Term SOFR + 3.75%, 0.00% <br> Floor  | 8.09% | 07/02/32 | 1337729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5067283 | &nbsp;&nbsp;&nbsp; Verifone Systems, Inc., Extended Term Loan, 3 Mo. CME Term <br> SOFR + CSA + 5.50%, 0.00% Floor  | 10.07% | 08/21/28 | 4905764 |
|  |  |  |  | 15232949 |
|  | **Footwear — 0.2%** | **Footwear — 0.2%** | **Footwear — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3320976 | &nbsp;&nbsp;&nbsp; Skechers (Beach Acquisition Bidco LLC), Term Loan B, 1 Mo. <br> CME Term SOFR + 3.25%, 0.00% Floor  | 7.60% | 07/31/32 | 3345884 |
|  | **Health Care Facilities — 0.5%** | **Health Care Facilities — 0.5%** | **Health Care Facilities — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7532766 | &nbsp;&nbsp;&nbsp; IVC Evidensia (VetStrategy Canada / IVC Acquisition Midco <br> LTD.), Term Loan B-12, 3 Mo. CME Term SOFR + 3.75%, <br> 0.50% Floor  | 8.05% | 12/06/28 | 7582181 |
|  | **Health Care Services — 0.3%** | **Health Care Services — 0.3%** | **Health Care Services — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5348457 | &nbsp;&nbsp;&nbsp; Opella Healthcare Group (Opal U.S. LLC), Facility B2 (USD), 6 <br> Mo. CME Term SOFR + 3.25%, 0.00% Floor  | 7.44% | 04/23/32 | 5378222 |
|  | **Health Care Technology — 1.5%** | **Health Care Technology — 1.5%** | **Health Care Technology — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2992500 | &nbsp;&nbsp;&nbsp; athenahealth Group, Inc., Refi Term Loan B, 1 Mo. CME Term <br> SOFR + 2.75%, 0.50% Floor  | 7.11% | 02/15/29 | 2993846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 20413923 | &nbsp;&nbsp;&nbsp; Cotiviti, Inc. (Verscend), Fixed Rate Term Loan, Fixed Rate at <br> 7.63%  | 7.63% | 05/01/31 | 20584073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1990000 | &nbsp;&nbsp;&nbsp; Mediware (Wellsky / Project Ruby Ultimate Parent Corp.), Refi <br> Term Loan B, 1 Mo. CME Term SOFR + CSA + 2.75%, 0.00% <br> Floor  | 7.22% | 03/10/28 | 1994975 |
|  |  |  |  | 25572894 |
|  | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1284435 | &nbsp;&nbsp;&nbsp; Restoration Hardware (RH), Term Loan B-2, 1 Mo. CME Term <br> SOFR + CSA + 3.25%, 0.50% Floor  | 7.71% | 10/20/28 | 1256742 |
|  | **Industrial Machinery & Supplies & Components — 0.3%** | **Industrial Machinery & Supplies & Components — 0.3%** | **Industrial Machinery & Supplies & Components — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4576143 | &nbsp;&nbsp;&nbsp; Filtration Group Corp., Term Loan B, 1 Mo. CME Term SOFR + <br> CSA + 2.75%, 0.50% Floor (h) | 7.11% | 10/23/28 | 4576143 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Rate (f)** | **Stated**<br> **Maturity (g)**<br>| **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Insurance Brokers — 4.5%** | **Insurance Brokers — 4.5%** | **Insurance Brokers — 4.5%** |  |
| $11488000 | &nbsp;&nbsp;&nbsp; Alera Group, Inc., Term Loan (Second Lien), 1 Mo. CME Term <br> SOFR + 5.50%, 0.50% Floor  | 9.86% | 06/30/32 | $11947520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4907000 | &nbsp;&nbsp;&nbsp; Alera Group, Inc., Term Loan B (First Lien), 1 Mo. CME Term <br> SOFR + 3.25%, 0.50% Floor  | 7.61% | 06/30/32 | 4934308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13511826 | &nbsp;&nbsp;&nbsp; CRC Insurance Group (fka Truist Insurance), Term Loan (Second <br> Lien), 3 Mo. CME Term SOFR + 4.75%, 0.00% Floor  | 9.05% | 05/06/32 | 13829354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10479603 | &nbsp;&nbsp;&nbsp; Hyperion Insurance Group Ltd. (aka - Howden Group), 2031 <br> Maturity Term Loan B, 1 Mo. CME Term SOFR + 3.00%, 0.50% <br> Floor  | 7.36% | 02/21/31 | 10508579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890622 | &nbsp;&nbsp;&nbsp; Hyperion Insurance Group Ltd. (aka - Howden Group), Term Loan <br> B, 1 Mo. CME Term SOFR + 3.50%, 0.50% Floor  | 7.86% | 04/18/30 | 8928140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16795046 | &nbsp;&nbsp;&nbsp; OneDigital Borrower LLC, Term Loan (Second Lien), 1 Mo. CME <br> Term SOFR + 5.25%, 0.50% Floor  | 9.61% | 07/02/32 | 16915802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8230896 | &nbsp;&nbsp;&nbsp; Trucordia Insurance Holdings LLC, Term Loan B, 1 Mo. CME <br> Term SOFR + 3.25%, 0.00% Floor  | 7.61% | 06/30/32 | 8290076 |
|  |  |  |  | 75353779 |
|  | **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8939937 | &nbsp;&nbsp;&nbsp; Twitter, Inc. (X Corp.), Fixed Rate Term Loan B-3, Fixed Rate at <br> 9.50%  | 9.50% | 10/29/29 | 8686043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6480323 | &nbsp;&nbsp;&nbsp; Twitter, Inc. (X Corp.), Term Loan B-1, 3 Mo. CME Term SOFR + <br> CSA + 6.50%, 0.50% Floor  | 10.96% | 10/26/29 | 6325897 |
|  |  |  |  | 15011940 |
|  | **IT Consulting & Other Services — 0.9%** | **IT Consulting & Other Services — 0.9%** | **IT Consulting & Other Services — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 15133042 | &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp. (fka Milano), Term Loan B, 3 Mo. <br> CME Term SOFR + CSA + 4.00%, 0.75% Floor  | 8.40% | 10/01/27 | 14948645 |
|  | **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8284721 | &nbsp;&nbsp;&nbsp; Syneos Health, Inc. (Star Parent), Term Loan B, 3 Mo. CME Term <br> SOFR + 4.00%, 0.00% Floor  | 8.30% | 09/30/30 | 8203614 |
|  | **Metal, Glass & Plastic Containers — 0.5%** | **Metal, Glass & Plastic Containers — 0.5%** | **Metal, Glass & Plastic Containers — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4326514 | &nbsp;&nbsp;&nbsp; ProAmpac PG Borrower LLC, 2024 Refi Term Loan B, 3 Mo. <br> CME Term SOFR + 4.00%, 0.75% Floor  | 8.32% | 09/15/28 | 4345443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4021824 | &nbsp;&nbsp;&nbsp; TricorBraun, Inc., Initial Term Loan, 1 Mo. CME Term SOFR + <br> CSA + 3.25%, 0.50% Floor  | 7.72% | 03/03/28 | 4026811 |
|  |  |  |  | 8372254 |
|  | **Other Specialty Retail — 0.3%** | **Other Specialty Retail — 0.3%** | **Other Specialty Retail — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1122963 | &nbsp;&nbsp;&nbsp; Petco Health and Wellness Co., Inc., Initial Term Loan B, 3 Mo. <br> CME Term SOFR + CSA + 3.25%, 0.75% Floor  | 7.81% | 03/04/28 | 1052149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4129641 | &nbsp;&nbsp;&nbsp; Petsmart, Inc., Initial Term Loan B, 1 Mo. CME Term SOFR + <br> CSA + 3.75%, 0.75% Floor  | 8.21% | 02/12/28 | 4127060 |
|  |  |  |  | 5179209 |
|  | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2090879 | &nbsp;&nbsp;&nbsp; Dechra Finance US LLC, USD Facility B1, 6 Mo. CME Term <br> SOFR + 3.25%, 0.00% Floor  | 7.45% | 01/27/32 | 2100549 |
|  | **Research & Consulting Services — 1.0%** | **Research & Consulting Services — 1.0%** | **Research & Consulting Services — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2311807 | &nbsp;&nbsp;&nbsp; AmSpec Parent LLC, Refi Term Loan B, 3 Mo. CME Term SOFR <br> + 3.50%, 0.00% Floor  | 7.80% | 12/22/31 | 2329145 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Rate (f)** | **Stated**<br> **Maturity (g)**<br>| **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Research & Consulting Services (Continued)** | **Research & Consulting Services (Continued)** | **Research & Consulting Services (Continued)** |  |
| $7901961 | &nbsp;&nbsp;&nbsp; Clarivate Analytics PLC (Camelot), 2024 Term Loan B, 1 Mo. <br> CME Term SOFR + 2.75%, 0.00% Floor  | 7.11% | 01/31/31 | $7908875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6315647 | &nbsp;&nbsp;&nbsp; Clarivate Analytics PLC (Camelot), 2025 Incremental Term Loan, 1 <br> Mo. CME Term SOFR + 3.25%, 0.00% Floor  | 7.61% | 01/31/31 | 6353826 |
|  |  |  |  | 16591846 |
|  | **Restaurants — 0.3%** | **Restaurants — 0.3%** | **Restaurants — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4209330 | &nbsp;&nbsp;&nbsp; IRB Holding Corp. (Arby's/Inspire Brands), Term Loan B, 1 Mo. <br> CME Term SOFR + 2.50%, 0.75% Floor  | 6.86% | 12/15/27 | 4212929 |
|  | **Security & Alarm Services — 0.5%** | **Security & Alarm Services — 0.5%** | **Security & Alarm Services — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887945 | &nbsp;&nbsp;&nbsp; Garda World Security Corp., Refi Term Loan B, 1 Mo. CME Term <br> SOFR + 3.00%, 0.00% Floor  | 7.34% | 02/01/29 | 8899721 |
|  | **Systems Software — 0.8%** | **Systems Software — 0.8%** | **Systems Software — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1989918 | &nbsp;&nbsp;&nbsp; Idera, Inc. (Flash Charm), 2024 Refi Term Loan, 3 Mo. CME Term <br> SOFR + 3.50%, 0.75% Floor  | 7.78% | 03/02/28 | 1872125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3876692 | &nbsp;&nbsp;&nbsp; Idera, Inc. (Flash Charm), Term Loan (Second Lien), 3 Mo. CME <br> Term SOFR + 6.75%, 0.75% Floor  | 11.18% | 03/02/29 | 3382414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329989 | &nbsp;&nbsp;&nbsp; Kaseya, Inc., Term Loan (Second Lien), 1 Mo. CME Term SOFR + <br> 5.00%, 0.00% Floor  | 9.36% | 03/20/33 | 332105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2455800 | &nbsp;&nbsp;&nbsp; KnowBe4, Inc., Term Loan B, 3 Mo. CME Term SOFR + 3.75%, <br> 0.00% Floor  | 8.07% | 07/31/32 | 2460417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4331104 | &nbsp;&nbsp;&nbsp; Proofpoint, Inc., 2024 Refi Term Loan, 1 Mo. CME Term SOFR + <br> 3.00%, 0.50% Floor  | 7.36% | 08/31/28 | 4343296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1722043 | &nbsp;&nbsp;&nbsp; Proofpoint, Inc., Incr Term Loan, 1 Mo. CME Term SOFR + <br> 3.00%, 0.50% Floor  | 7.36% | 08/31/28 | 1726891 |
|  |  |  |  | 14117248 |
|  | **Trading Companies & Distributors — 0.7%** | **Trading Companies & Distributors — 0.7%** | **Trading Companies & Distributors — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2607954 | &nbsp;&nbsp;&nbsp; Veritiv Corp. (Verde Purchaser LLC), Term Loan B, 3 Mo. CME <br> Term SOFR + 4.00%, 0.00% Floor  | 8.30% | 11/29/30 | 2621816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8157195 | &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC, Term Loan B, 3 Mo. CME Term <br> SOFR + 3.75%, 0.00% Floor  | 8.04% | 03/31/31 | 8201366 |
|  |  |  |  | 10823182 |
|  | **Total Senior Floating-Rate Loan Interests** | **Total Senior Floating-Rate Loan Interests** | **Total Senior Floating-Rate Loan Interests** | 344268991 |
|  | (Cost $346,361,981) | (Cost $346,361,981) | (Cost $346,361,981) |  |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES — 12.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 12.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 12.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 12.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 12.7%** |
|  | **Aerospace & Defense — 0.3%** | **Aerospace & Defense — 0.3%** | **Aerospace & Defense — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4137000 | Bombardier, Inc. (a) | 6.75% | 06/15/33 | 4257267 |
|  | **Air Freight & Logistics — 0.2%** | **Air Freight & Logistics — 0.2%** | **Air Freight & Logistics — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3444000 | Phoenix Aviation Capital, Ltd. (a) | 9.25% | 07/15/30 | 3611676 |
|  | **Aluminum — 0.1%** | **Aluminum — 0.1%** | **Aluminum — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1350000 | Novelis Corp. (a) | 6.88% | 01/30/30 | 1392000 |
|  | **Application Software — 0.6%** | **Application Software — 0.6%** | **Application Software — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5077000 | Open Text Corp. (a) | 6.90% | 12/01/27 | 5246805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4515000 | Open Text Corp. (a) | 3.88% | 02/15/28 | 4350020 |
|  |  |  |  | 9596825 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  | **Automotive Parts & Equipment — 1.4%** | **Automotive Parts & Equipment — 1.4%** | **Automotive Parts & Equipment — 1.4%** |  |
| $19208000 | Clarios Global, L.P. / Clarios US Finance Co. (a) (b) | 8.50% | 05/15/27 | $19360973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3486000 | Clarios Global, L.P. / Clarios US Finance Co. (a) | 6.75% | 02/15/30 | 3596349 |
|  |  |  |  | 22957322 |
|  | **Building Products — 0.2%** | **Building Products — 0.2%** | **Building Products — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | Cemex S.A.B. de C.V. (a) (d) | 7.20% | (e) | 1533300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Cemex S.A.B. de C.V. (a) | 5.20% | 09/17/30 | 1985194 |
|  |  |  |  | 3518494 |
|  | **Casinos & Gaming — 0.0%** | **Casinos & Gaming — 0.0%** | **Casinos & Gaming — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294000 | Flutter Treasury Designated Activity Co. (a) | 6.38% | 04/29/29 | 302540 |
|  | **Data Processing & Outsourced Services — 0.3%** | **Data Processing & Outsourced Services — 0.3%** | **Data Processing & Outsourced Services — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5874000 | Paysafe Finance PLC / Paysafe Holdings US Corp. (a) | 4.00% | 06/15/29 | 5400675 |
|  | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Sensata Technologies B.V. (a) | 4.00% | 04/15/29 | 475672 |
|  | **Environmental & Facilities Services — 0.5%** | **Environmental & Facilities Services — 0.5%** | **Environmental & Facilities Services — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8298000 | GFL Environmental, Inc. (a) | 6.75% | 01/15/31 | 8609903 |
|  | **Health Care Services — 0.5%** | **Health Care Services — 0.5%** | **Health Care Services — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8323000 | Opal Bidco SAS (a) | 6.50% | 03/31/32 | 8411730 |
|  | **Hotels, Resorts & Cruise Lines — 1.0%** | **Hotels, Resorts & Cruise Lines — 1.0%** | **Hotels, Resorts & Cruise Lines — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5635000 | Carnival Corp. (a) | 5.88% | 06/15/31 | 5723047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7180000 | Carnival Corp. (a) | 5.75% | 08/01/32 | 7237584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Carnival Corp. (a) | 6.13% | 02/15/33 | 2036732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1371000 | NCL Corp. Ltd. (a) | 6.75% | 02/01/32 | 1409039 |
|  |  |  |  | 16406402 |
|  | **Insurance Brokers — 2.7%** | **Insurance Brokers — 2.7%** | **Insurance Brokers — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 20490000 | Ardonagh Finco Ltd. (a) (b) | 7.75% | 02/15/31 | 21381971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 15234000 | Ardonagh Group Finance Ltd. (a) (b) | 8.88% | 02/15/32 | 16034090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2558000 | &nbsp;&nbsp;&nbsp; Howden UK Refinance PLC / Howden UK Refinance 2 PLC / <br> Howden US Refinance LLC (a) | 7.25% | 02/15/31 | 2651068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 539000 | &nbsp;&nbsp;&nbsp; Howden UK Refinance PLC / Howden UK Refinance 2 PLC / <br> Howden US Refinance LLC (a) | 8.13% | 02/15/32 | 561819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3917000 | Jones Deslauriers Insurance Management, Inc. (a) | 8.50% | 03/15/30 | 4136229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681000 | Jones Deslauriers Insurance Management, Inc. (a) | 10.50% | 12/15/30 | 724331 |
|  |  |  |  | 45489508 |
|  | **IT Consulting & Other Services — 0.1%** | **IT Consulting & Other Services — 0.1%** | **IT Consulting & Other Services — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | Elastic N.V. (a) | 4.13% | 07/15/29 | 1428140 |
|  | **Metal, Glass & Plastic Containers — 1.1%** | **Metal, Glass & Plastic Containers — 1.1%** | **Metal, Glass & Plastic Containers — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8098000 | &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance U.S.A. LLC / Ardagh Metal <br> Packaging Finance PLC (a) | 6.00% | 06/15/27 | 8111775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6371000 | Canpack S.A. / Canpack US LLC (a) | 3.88% | 11/15/29 | 5939641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2133000 | Trivium Packaging Finance B.V. (a) | 8.25% | 07/15/30 | 2247467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1419000 | Trivium Packaging Finance B.V. (a) | 12.25% | 01/15/31 | 1491172 |
|  |  |  |  | 17790055 |
|  | **Packaged Foods & Meats — 0.6%** | **Packaged Foods & Meats — 0.6%** | **Packaged Foods & Meats — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9149000 | Froneri Lux FinCo SARL (a) (c) | 6.00% | 08/01/32 | 9122027 |
|  | **Research & Consulting Services — 0.0%** | **Research & Consulting Services — 0.0%** | **Research & Consulting Services — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222000 | Camelot Finance S.A. (a) | 4.50% | 11/01/26 | 219240 |

---

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  | **Restaurants — 2.0%** | **Restaurants — 2.0%** | **Restaurants — 2.0%** |  |
| $656000 | 1011778 BC ULC / New Red Finance, Inc. (a) | 6.13% | 06/15/29 | $671198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 34510000 | 1011778 BC ULC / New Red Finance, Inc. (a) (b) | 4.00% | 10/15/30 | 32016732 |
|  |  |  |  | 32687930 |
|  | **Security & Alarm Services — 0.3%** | **Security & Alarm Services — 0.3%** | **Security & Alarm Services — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342000 | Garda World Security Corp. (a) | 8.25% | 08/01/32 | 352978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4793000 | Garda World Security Corp. (a) | 8.38% | 11/15/32 | 4941612 |
|  |  |  |  | 5294590 |
|  | **Specialized Consumer Services — 0.4%** | **Specialized Consumer Services — 0.4%** | **Specialized Consumer Services — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7100000 | Belron UK Finance PLC (a) | 5.75% | 10/15/29 | 7171071 |
|  | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4194000 | Albion Financing 1 SARL / Aggreko Holdings, Inc. (a) | 7.00% | 05/21/30 | 4327310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1377000 | Azorra Finance Ltd. (a) | 7.75% | 04/15/30 | 1435458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344000 | Azorra Finance Ltd. (a) | 7.25% | 01/15/31 | 351957 |
|  |  |  |  | 6114725 |
|  | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | 210257792 |
|  | (Cost $207,246,888) | (Cost $207,246,888) | (Cost $207,246,888) |  |

---

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 0.0%** | **COMMON STOCKS — 0.0%** | **COMMON STOCKS — 0.0%** |
|  | **Pharmaceuticals — 0.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259956 | Akorn, Inc. (i) (j) (k) | 10398 |
|  | (Cost $2,979,179) |  |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3288560 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.16% (l) | 3288560 |
|  | (Cost $3,288,560) |  |
|  | **Total Investments — 109.1%** | 1809364018 |
|  | (Cost $1,811,828,582) |  |
|  | **Borrowings — (8.7)%** | (145000000)<br>|
|  | **Net Other Assets and Liabilities — (0.4)%** | (5710026)<br>|
|  | **Net Assets — 100.0%** | $1658653992 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) This security, sold within the terms of a private placement memorandum, is exempt
 from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the "1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. (the "Advisor"). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined
 based on security specific factors and assumptions, which require subjective judgment. At July 31, 2025, securities noted
 as such amounted to $1,378,421,842 or 83.1% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This security or a portion of this security is segregated as collateral for borrowings.
 At July 31, 2025, the segregated value of these securities amounts to $284,540,120.

&nbsp;&nbsp;&nbsp;&nbsp;(c) When-issued security. The interest rate shown reflects the rate in effect at July
 31, 2025. Interest will begin accruing on the security's first settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects
 the fixed rate in effect at July 31, 2025. At a predetermined date, the fixed rate will change to a floating rate or a variable rate.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Perpetual maturity.

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

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

&nbsp;&nbsp;&nbsp;&nbsp;(f) Senior Floating-Rate Loan Interests ("Senior Loans") in which the Fund invests pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending
 rates are generally (i) the SOFR obtained from the U.S. Department of the Treasury's Office of Financial Research or another major financial institution, (ii) the lending rate offered by one or more major European banks, (iii) the prime rate offered by
 one or more United States banks or (iv) the certificate of deposit rate. Certain Senior Loans are subject to a SOFR floor that
 establishes a minimum SOFR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche
 with identical SOFR period, spread and floor, but different SOFR reset dates.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Senior Loans generally are subject to mandatory and/or optional prepayment. As a result,
 the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.

&nbsp;&nbsp;&nbsp;&nbsp;(h) This security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940
 and rules thereunder, as amended. At July 31, 2025, securities noted as such are valued at $7,724,103 or 0.5% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(i) This issuer has filed for protection in bankruptcy court.

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

&nbsp;&nbsp;&nbsp;&nbsp;(k) Security received in a transaction exempt from registration under the 1933 Act. The
 security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional
 buyers (see Restricted Securities table).

&nbsp;&nbsp;&nbsp;&nbsp;(l) Rate shown reflects yield as of July 31, 2025.

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

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| SOFR | – Secured Overnight Financing Rate |
| USD | – United States Dollar |

---

------

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the investment.

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

A summary of the inputs used to value the Fund's investments as of July 31, 2025 is as follows:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Corporate Bonds and Notes\* | $1251538277 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1251538277 | &nbsp;&nbsp; $— |
| Senior Floating-Rate Loan Interests\* | 344268991 | &nbsp;&nbsp; — | &nbsp;&nbsp; 344268991 | &nbsp;&nbsp; — |
| Foreign Corporate Bonds and Notes\* | 210257792 | &nbsp;&nbsp; — | &nbsp;&nbsp; 210257792 | &nbsp;&nbsp; — |
| Common Stocks\* | 10398 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10398 | &nbsp;&nbsp; — |
| Money Market Funds | 3288560 | &nbsp;&nbsp; 3288560 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | $1809364018 | &nbsp;&nbsp; $3288560 | &nbsp;&nbsp; $1806075458 | &nbsp;&nbsp; $— |

---

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

\* See Portfolio of Investments for industry breakout.

------

**First Trust Tactical High Yield ETF (HYLS)**

**Portfolio of Investments (Continued)**

**July 31, 2025 (Unaudited)**

------

**Unfunded Loan Commitments**

As of July 31, 2025, the Fund had the following unfunded loan commitments which are categorized as Level 2 within the fair value hierarchy.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| Borrower | Principal <br>Value<br>| Commitment <br>Amount<br>| Value | Unrealized <br>Appreciation <br>(Depreciation)<br>|
| AmSpec Parent LLC, Term Loan | $355663 | &nbsp;&nbsp; $355663 | &nbsp;&nbsp; $358330 | &nbsp;&nbsp; $2667 |

---

------

**Restricted Securities**

As of July 31, 2025, the Fund held restricted securities as shown in the following table that the Advisor deemed illiquid pursuant to procedures adopted by the Trust's Board of Trustees:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Security | Acquisition <br>Date<br>| Shares | Current <br>Price<br>| Carrying <br>Cost<br>| Value | % of <br>Net Assets<br>|
| Akorn, Inc. | 10/15/20 | &nbsp;&nbsp; 259956 | &nbsp;&nbsp; $0.04 | &nbsp;&nbsp; $2979179 | &nbsp;&nbsp; $10398 | 0.00<br> %\*<br>|

---

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

\* Amount is less than 0.01%.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Exchange-Traded Fund IV

- **b. Investment Company Act file number:** 811-22559

- **c. CIK number of Registrant:** 0001517936

- **d. LEI of Registrant:** 5493006CBTW7P2B31B80

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

  - **Street Address 1:** 120 East Liberty Drive

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust Tactical High Yield ETF

- **b. EDGAR series identifier (if any):** S000039493

- **c. LEI of Series:** 549300N8JZKZ2R50QR81

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

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

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1867361082.25

**Total Liabilities:** $208707492.51

**Net Assets:** $1658653589.74

**Delayed Delivery Securities:** $17691078.16

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 13.19274000 | **1-Year:** 8727.91088000 | **5-Year:** 13419.76442000 | **10-Year:** 25553.60641000 | **30-Year:** 4450.75684000

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

- **3-Month:** 2557.44250000 | **1-Year:** 174305.59882000 | **5-Year:** 275916.45893000 | **10-Year:** 8777.55529000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121641 | 1.58%                | 1.57%                | 0.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $469312.03               | $16129504.37                               |
| Month 2  | $1801246.35              | $15901893.61                               |
| Month 3  | $457149.30               | $-5917741.04                               |

**Designated Index Information**

- **Index Name:** The Fund's Designated Reference Portfolio is the 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GARDA WORLD SECURITY      | Garda World Security Corp                                                       | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   4793000 | PA      | $4941611.76   | 0.30%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER  | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13365000 | PA      | $13387760.60  | 0.81%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI  | Standard Building Solutions Inc                                                 | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   6557000 | PA      | $6700480.27   | 0.40%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC            | Bombardier Inc                                                                  | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4137000 | PA      | $4257266.73   | 0.26%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LogMeIn, Inc. ( 04/30/28  | LogMeIn, Inc. ( 04/30/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7476343 | PA      | $6616563.38   | 0.40%             | 2028-04-30      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| HYPERION REFINA 02/21/31  | HYPERION REFINA 02/21/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10479603 | PA      | $10508579.11  | 0.63%             | 2031-02-21      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER  | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1764147.57   | 0.11%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN  | Graphic Packaging International LLC                                             | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $938391.10    | 0.06%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ACUSHNET CO               | Acushnet Co                                                                     | CUSIP: 005095AA2<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1663522.80   | 0.10%             | 2028-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC    | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4052515.20   | 0.24%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY      | Garda World Security Corp                                                       | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    342000 | PA      | $352978.69    | 0.02%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO   | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAG4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3279686.07   | 0.20%             | 2054-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HOWDEN GROUP HOHYPIN 4/30 | HOWDEN GROUP HOHYPIN 4/30                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8890622 | PA      | $8928139.94   | 0.54%             | 2030-04-18      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV   | Sensata Technologies BV                                                         | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $475672.41    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAMELOT US ACQU 01/31/31  | CAMELOT US ACQU 01/31/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7901961 | PA      | $7908875.00   | 0.48%             | 2031-01-31      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC     | Caesars Entertainment Inc                                                       | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   6201000 | PA      | $5990013.46   | 0.36%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ONEDIGITALBORR7/2/32      | ONEDIGITALBORR7/2/32                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2902318 | PA      | $2923185.16   | 0.18%             | 2032-07-02      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| MH SUB I LLC INL 4/25/28  | MH SUB I LLC INL 4/25/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9948835 | PA      | $9514220.28   | 0.57%             | 2028-04-25      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP             | EchoStar Corp                                                                   | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   6882315 | PA      | $7257779.69   | 0.44%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| US FOODS INC              | US Foods Inc                                                                    | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   1397000 | PA      | $1369434.40   | 0.08%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHARIOT BUYER L 09/01/32  | CHARIOT BUYER L 09/01/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5890998 | PA      | $5895887.68   | 0.36%             | 2032-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA        | Camelot Finance SA                                                              | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    222000 | PA      | $219240.30    | 0.01%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC     | Molina Healthcare Inc                                                           | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   3032000 | PA      | $2904507.86   | 0.18%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC    | Venture Global LNG Inc                                                          | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $18020790.00  | 1.09%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GOTO GROUP INC            | GoTo Group Inc                                                                  | CUSIP: 38349YAB1<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |   5632950 | PA      | $1929285.38   | 0.12%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VERIFONE SYSTEM 08/20/28  | VERIFONE SYSTEM 08/20/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5079983 | PA      | $4918058.84   | 0.30%             | 2028-08-20      | Floating      | 10.07%                | No            |                  2 | On Loan: No      |
| BEACH ACQUISITI 06/25/32  | BEACH ACQUISITI 06/25/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3320976 | PA      | $3345883.62   | 0.20%             | 2032-06-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC           | Gen Digital Inc                                                                 | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   4763000 | PA      | $4867681.21   | 0.29%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP              | Novelis Corp                                                                    | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1391999.85   | 0.08%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC         | Waste Pro USA Inc                                                               | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   8590000 | PA      | $8934141.17   | 0.54%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC     | Williams Scotsman Inc                                                           | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    697000 | PA      | $719182.37    | 0.04%             | 2030-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC      | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6489000 | PA      | $6864661.19   | 0.41%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC             | FirstCash Inc                                                                   | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |   9796000 | PA      | $10054173.58  | 0.61%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY  | Standard Industries Inc/NY                                                      | CUSIP: 853496AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1392000 | PA      | $1392164.12   | 0.08%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IDERA INC Varia 03/02/29  | IDERA INC Varia 03/02/29                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3876692 | PA      | $3382414.06   | 0.20%             | 2029-03-02      | Floating      | 11.18%                | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI  | Charles River Laboratories International Inc                                    | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $942787.60    | 0.06%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ALERA GROUP INT 06/30/32  | ALERA GROUP INT 06/30/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4907000 | PA      | $4934307.46   | 0.30%             | 2032-06-30      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC          | Wand NewCo 3 Inc                                                                | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |   7625000 | PA      | $8012433.88   | 0.48%             | 2032-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN  | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  19208000 | PA      | $19360972.51  | 1.17%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MITER BRAND / MIWD BORR   | Miter Brands Acquisition Holdco Inc / MIWD Borrower LLC                         | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2708000 | PA      | $2766519.88   | 0.17%             | 2032-04-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| XAI CORP 12.50% 06/17/30  | XAI CORP 12.50% 06/17/30                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6774194 | PA      | $6821375.81   | 0.41%             | 2030-06-17      | Floating      | 12.50%                | No            |                  2 | On Loan: No      |
| ZIPRECRUITER INC          | ZipRecruiter Inc                                                                | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |   9953000 | PA      | $7541773.28   | 0.45%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC     | Ellucian Holdings Inc                                                           | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |   2140000 | PA      | $2173204.24   | 0.13%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KASEYA INC Vari 03/31/33  | KASEYA INC Vari 03/31/33                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    329989 | PA      | $332104.36    | 0.02%             | 2033-03-31      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC    | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   8351000 | PA      | $8648220.44   | 0.52%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER  | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1331000 | PA      | $1369901.14   | 0.08%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC  | iHeartCommunications Inc                                                        | CUSIP: 45174HBL0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |  23148800 | PA      | $11523704.13  | 0.69%             | 2030-05-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC    | RB Global Holdings Inc                                                          | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |   4522000 | PA      | $4744672.32   | 0.29%             | 2031-03-15      | Fixed         | 7.75%                 | 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        |  19730000 | PA      | $20387798.20  | 1.23%             | 2031-05-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC             | Open Text Holdings Inc                                                          | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3487000 | PA      | $3177131.58   | 0.19%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /  | Albion Financing 1 SARL / Aggreko Holdings Inc                                  | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   4194000 | PA      | $4327310.48   | 0.26%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP    | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $908104.40    | 0.05%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC    | Cloud Software Group Inc                                                        | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   8070000 | PA      | $8599238.67   | 0.52%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC 08/31/28   | PROOFPOINT INC 08/31/28                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4331104 | PA      | $4343296.33   | 0.26%             | 2028-08-31      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I  | Performance Food Group Inc                                                      | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   8398000 | PA      | $8538557.33   | 0.51%             | 2032-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| POLARIS NEWCO L B 1L USD  | POLARIS NEWCO L B 1L USD                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6945876 | PA      | $6827379.63   | 0.41%             | 2028-06-03      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD     | HUB International Ltd                                                           | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   8230000 | PA      | $8178206.14   | 0.49%             | 2029-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| US FOODS INC              | US Foods Inc                                                                    | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   8582000 | PA      | $8951987.18   | 0.54%             | 2032-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                 | Pike Corp                                                                       | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |   8615000 | PA      | $8586908.21   | 0.52%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS     | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |  16927000 | PA      | $17473302.00  | 1.05%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC    | CACI International Inc                                                          | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    690000 | PA      | $706415.79    | 0.04%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC    | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2928750.00   | 0.18%             | 2029-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS & ENTERTA  | SeaWorld Parks & Entertainment Inc                                              | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |    717000 | PA      | $698674.84    | 0.04%             | 2029-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO   | Allied Universal Holdco LLC                                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   2675000 | PA      | $2806896.23   | 0.17%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC       | Sirius XM Radio LLC                                                             | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3652494.80   | 0.22%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN   | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2271000 | PA      | $2254908.38   | 0.14%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC             | Nordstrom Inc                                                                   | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   2854000 | PA      | $2602042.60   | 0.16%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US     | Canpack SA / Canpack US LLC                                                     | CUSIP: 13806CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   6371000 | PA      | $5939641.25   | 0.36%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC          | TriNet Group Inc                                                                | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |   8537000 | PA      | $8793331.96   | 0.53%             | 2031-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WEX INC                   | WEX Inc                                                                         | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |   1842000 | PA      | $1867360.66   | 0.11%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP            | Open Text Corp                                                                  | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   5077000 | PA      | $5246805.34   | 0.32%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| UNDER ARMOUR INC          | Under Armour Inc                                                                | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |   1378000 | PA      | $1409377.69   | 0.08%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GARDAWORLDSEC02/01/29     | GARDAWORLDSEC02/01/29                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3128000 | PA      | $3132144.60   | 0.19%             | 2029-02-01      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC  | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1359000 | PA      | $1439414.75   | 0.09%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC    | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19370000 | PA      | $20023524.43  | 1.21%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TRUCORDIA PTRFO 06/12/32  | TRUCORDIA PTRFO 06/12/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8230896 | PA      | $8290075.96   | 0.50%             | 2032-06-12      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                | EZCORP Inc                                                                      | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |   1381000 | PA      | $1441708.76   | 0.09%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JUMP FINANCIAL 02/26/32   | JUMP FINANCIAL 02/26/32                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2278329 | PA      | $2278328.92   | 0.14%             | 2032-02-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA  | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    681000 | PA      | $724330.67    | 0.04%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| 180 MEDICAL INC           | 180 Medical Inc                                                                 | CUSIP: 682357AA6<br>LEI: 254900ZB648OPWVFVX59 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3033724.16   | 0.18%             | 2029-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN  | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3486000 | PA      | $3596349.33   | 0.22%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC          | HealthEquity Inc                                                                | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |   6885000 | PA      | $6636454.94   | 0.40%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SEC 02/01/29  | GARDA WORLD SEC 02/01/29                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5759945 | PA      | $5767576.54   | 0.35%             | 2029-02-01      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC       | AssuredPartners Inc                                                             | CUSIP: 04624VAB5<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |  14817000 | PA      | $14800914.66  | 0.89%             | 2029-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FILTRATION GROU 10/23/28  | FILTRATION GROU 10/23/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4576143 | PA      | $4576143.11   | 0.28%             | 2028-10-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY  | Standard Industries Inc/NY                                                      | CUSIP: 853496AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2492000 | PA      | $2360906.10   | 0.14%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SELECT MEDICAL CORP       | Select Medical Corp                                                             | CUSIP: 816196AV1<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |  17799000 | PA      | $17774768.44  | 1.07%             | 2032-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC  | Builders FirstSource Inc                                                        | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |  16601000 | PA      | $17041754.56  | 1.03%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| X CORP 9.50%, d0/29/2029  | X CORP 9.50%, d0/29/2029                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8939937 | PA      | $8686042.60   | 0.52%             | 2029-10-29      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| AMSPEC PARENT L 12/22/31  | AMSPEC PARENT L 12/22/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    213398 | PA      | $214998.04    | 0.01%             | 2031-12-22      | Floating      | 2.36%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC             | Life Time Inc                                                                   | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |   2031000 | PA      | $2047257.71   | 0.12%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US    | Cushman & Wakefield US Borrower LLC                                             | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |   1771000 | PA      | $1899719.82   | 0.11%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Paysafe Holding 06/24/28  | Paysafe Holding 06/24/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1012334 | PA      | $1012754.50   | 0.06%             | 2028-06-24      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC         | Newell Brands Inc                                                               | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   1031000 | PA      | $1082935.10   | 0.07%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COTIVITI INC 7. 02/24/31  | COTIVITI INC 7. 02/24/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20413923 | PA      | $20584072.73  | 1.24%             | 2031-05-01      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE  | Rockies Express Pipeline LLC                                                    | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    720000 | PA      | $748837.44    | 0.05%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMER SPORTS COMPANY       | Amer Sports Co                                                                  | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |   1299000 | PA      | $1352338.24   | 0.08%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OPAL LLC OPALBD 03/31/32  | OPAL LLC OPALBD 03/31/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5348457 | PA      | $5378221.62   | 0.32%             | 2032-03-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC      | Alpha Generation LLC                                                            | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |   3096000 | PA      | $3170886.05   | 0.19%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP             | TopBuild Corp                                                                   | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3536848.50   | 0.21%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| DG INVESTMENT I 07/02/32  | DG INVESTMENT I 07/02/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1332313 | PA      | $1337728.85   | 0.08%             | 2032-07-02      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC             | TransDigm Inc                                                                   | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  10652000 | PA      | $10746291.50  | 0.65%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC    | EquipmentShare.com Inc                                                          | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   3613000 | PA      | $3775332.09   | 0.23%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC         | Herc Holdings Inc                                                               | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |  12893000 | PA      | $13360358.36  | 0.81%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC       | Sirius XM Radio LLC                                                             | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    857000 | PA      | $847063.34    | 0.05%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD        | Ardonagh Finco Ltd                                                              | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |  20490000 | PA      | $21381970.68  | 1.29%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC          | CSC Holdings LLC                                                                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  18851000 | PA      | $12577763.09  | 0.76%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SPX FLOW INC              | SPX FLOW Inc                                                                    | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |   2705000 | PA      | $2796282.93   | 0.17%             | 2030-04-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PROAMPAC PG BOR 09/15/28  | PROAMPAC PG BOR 09/15/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1382974 | PA      | $1389024.27   | 0.08%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FIN 07/17/32  | BOOTS GROUP FIN 07/17/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1004851 | PA      | $1005483.78   | 0.06%             | 2032-07-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN  | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    688000 | PA      | $705081.66    | 0.04%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC          | AmWINS Group Inc                                                                | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |  10017000 | PA      | $10206822.15  | 0.62%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                 | IQVIA Inc                                                                       | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   5979000 | PA      | $6169162.10   | 0.37%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP       | Clarivate Science Holdings Corp                                                 | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8413000 | PA      | $7885863.29   | 0.48%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO     | Scotts Miracle-Gro Co/The                                                       | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   1498000 | PA      | $1437203.37   | 0.09%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FORTREA HOLDINGS INC      | Fortrea Holdings Inc                                                            | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |   3672000 | PA      | $3361886.75   | 0.20%             | 2030-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER  | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17412000 | PA      | $17661426.90  | 1.06%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC         | Newell Brands Inc                                                               | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   5449000 | PA      | $5224656.55   | 0.31%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| US FOODS INC              | US Foods Inc                                                                    | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   9700000 | PA      | $9635041.04   | 0.58%             | 2033-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE  | Ashton Woods USA LLC / Ashton Woods Finance Co                                  | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2886000 | PA      | $2882183.78   | 0.17%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN   | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                           | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11269000 | PA      | $11648708.96  | 0.70%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM  | Advanced Drainage Systems Inc                                                   | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |   3086000 | PA      | $3135395.97   | 0.19%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON      | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp  | CUSIP: 150190AE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $243108.63    | 0.01%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI  | PetSmart Inc / PetSmart Finance Corp                                            | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1959775.20   | 0.12%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BRINKER INTERNATIONAL IN  | Brinker International Inc                                                       | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |   1182000 | PA      | $1254801.74   | 0.08%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD           | Lamb Weston Holdings Inc                                                        | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |   1126000 | PA      | $1115161.69   | 0.07%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US  | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    539000 | PA      | $561819.64    | 0.03%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| CAMELOT US ACQU 01/31/31  | CAMELOT US ACQU 01/31/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6315647 | PA      | $6353825.57   | 0.38%             | 2031-01-31      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD           | Lamb Weston Holdings Inc                                                        | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |   5707000 | PA      | $5337363.89   | 0.32%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC     | Level 3 Financing Inc                                                           | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |  10544039 | PA      | $11967747.44  | 0.72%             | 2029-11-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| SEALED AIR CORP           | Sealed Air Corp                                                                 | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   1434000 | PA      | $1415645.52   | 0.09%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC         | Herc Holdings Inc                                                               | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1719000 | PA      | $1761170.51   | 0.11%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC    | WESCO Distribution Inc                                                          | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $2100337.75   | 0.13%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC       | AssuredPartners Inc                                                             | CUSIP: 04624VAC3<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |   3025000 | PA      | $3232400.05   | 0.19%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GR 02/14/29  | ATHENAHEALTH GR 02/14/29                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2992500 | PA      | $2993846.63   | 0.18%             | 2029-02-14      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP         | DISH Network Corp                                                               | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |  17162000 | PA      | $17888313.00  | 1.08%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| CARNIVAL CORP             | Carnival Corp                                                                   | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   5635000 | PA      | $5723046.88   | 0.35%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AHP HEALTH PARTN          | AHP Health Partners Inc                                                         | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |   8103000 | PA      | $7833465.86   | 0.47%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP       | Clarivate Science Holdings Corp                                                 | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1457000 | PA      | $1393927.87   | 0.08%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VISTA MANAGEMEN 03/26/31  | VISTA MANAGEMEN 03/26/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8157195 | PA      | $8201366.52   | 0.49%             | 2031-03-26      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                | USI Inc/NY                                                                      | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2114114.00   | 0.13%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UKG INC                   | UKG Inc                                                                         | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |  16664000 | PA      | $17118760.56  | 1.03%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO     | Scotts Miracle-Gro Co/The                                                       | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1828962.60   | 0.11%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC       | Avantor Funding Inc                                                             | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   6815000 | PA      | $6667613.36   | 0.40%             | 2028-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN     | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2133000 | PA      | $2247467.32   | 0.14%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                 | Pike Corp                                                                       | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |   3365000 | PA      | $3622732.08   | 0.22%             | 2031-01-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL         | Service Corp International/US                                                   | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   8661000 | PA      | $8692352.82   | 0.52%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN  | Raven Acquisition Holdings LLC                                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10371000 | PA      | $10500916.38  | 0.63%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO  | Scientific Games Holdings LP/Scientific Games US FinCo Inc                      | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5026000 | PA      | $4845277.61   | 0.29%             | 2030-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| INMAR INC INMAR 10/30/31  | INMAR INC INMAR 10/30/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4245677 | PA      | $4281043.14   | 0.26%             | 2031-10-30      | Floating      | 8.80%                 | 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        |   4657000 | PA      | $4730459.52   | 0.29%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALERA GROUP INT 06/30/33  | ALERA GROUP INT 06/30/33                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11488000 | PA      | $11947520.00  | 0.72%             | 2033-06-30      | Floating      | 9.86%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC  | Builders FirstSource Inc                                                        | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   9914000 | PA      | $10072217.53  | 0.61%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LEIA FINCO US L 07/02/32  | LEIA FINCO US L 07/02/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13137173 | PA      | $13202859.01  | 0.80%             | 2032-07-02      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| RINGCENTRAL INC           | RingCentral Inc                                                                 | CUSIP: 76680RAJ6<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |  15391000 | PA      | $16369698.30  | 0.99%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC     | Belron UK Finance PLC                                                           | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |   7100000 | PA      | $7171071.00   | 0.43%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SKOPIMA CONSILI 05/17/28  | SKOPIMA CONSILI 05/17/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3533415 | PA      | $3496420.41   | 0.21%             | 2028-05-17      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE    | Ardonagh Group Finance Ltd                                                      | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |  15234000 | PA      | $16034089.68  | 0.97%             | 2032-02-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC  | Builders FirstSource Inc                                                        | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92373.37     | 0.01%             | 2032-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP  | Graham Packaging Co Inc                                                         | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |  32934000 | PA      | $32910844.10  | 1.98%             | 2028-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC  | BroadStreet Partners Inc                                                        | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |   8120000 | PA      | $8072783.82   | 0.49%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WH BORROWER LLC 02/17/32  | WH BORROWER LLC 02/17/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4247264 | PA      | $4252912.46   | 0.26%             | 2032-02-17      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION    | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   3439000 | PA      | $3524923.42   | 0.21%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AKORN OPERATING COMPANY   | AKORN OPERATING COMPANY                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    259956 | NS      | $10398.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY  | Standard Industries Inc/NY                                                      | CUSIP: 853496AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $894189.90    | 0.05%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC     | Genesee & Wyoming Inc                                                           | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |   5234000 | PA      | $5300880.05   | 0.32%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DG INVESTMENT I 07/23/33  | DG INVESTMENT I 07/23/33                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3101322 | PA      | $3093568.85   | 0.19%             | 2033-07-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP             | Carnival Corp                                                                   | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   7180000 | PA      | $7237583.60   | 0.44%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL  | Phoenix Aviation Capital Ltd                                                    | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |   3444000 | PA      | $3611676.37   | 0.22%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC    | SCIH Salt Holdings Inc                                                          | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1373000 | PA      | $1334348.27   | 0.08%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY            | Owens-Brockway Glass Container Inc                                              | CUSIP: 69073TAV5<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1361884.62   | 0.08%             | 2032-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN   | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2056000 | PA      | $2105469.42   | 0.13%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| KNOWBE4 INC KNB 07/31/32  | KNOWBE4 INC KNB 07/31/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2455800 | PA      | $2460416.90   | 0.15%             | 2032-07-31      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US  | Sealed Air Corp/Sealed Air Corp US                                              | CUSIP: 812127AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2251000 | PA      | $2342514.41   | 0.14%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM   | United Rentals North America Inc                                                | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |  22026000 | PA      | $22437687.97  | 1.35%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC  | Boost Newco Borrower LLC                                                        | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |   1362000 | PA      | $1440915.64   | 0.09%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE            | Brink's Co/The                                                                  | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   1311000 | PA      | $1344319.07   | 0.08%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC   | Light & Wonder International Inc                                                | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   2587000 | PA      | $2698447.96   | 0.16%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI  | Standard Building Solutions Inc                                                 | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   3647000 | PA      | $3684550.53   | 0.22%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC            | Gray Media Inc                                                                  | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   7254000 | PA      | $5431432.50   | 0.33%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI  | Charles River Laboratories International Inc                                    | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    950000 | PA      | $921618.92    | 0.06%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC     | Caesars Entertainment Inc                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    173000 | PA      | $178563.16    | 0.01%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP          | Boyd Gaming Corp                                                                | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   6062000 | PA      | $5777822.29   | 0.35%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC     | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |  12509000 | PA      | $12837539.88  | 0.77%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PETCO HEALTH & 02/25/28   | PETCO HEALTH & 02/25/28                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1122963 | PA      | $1052149.04   | 0.06%             | 2028-03-03      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE     | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    343000 | PA      | $370635.01    | 0.02%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC       | Axon Enterprise Inc                                                             | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    690000 | PA      | $708609.48    | 0.04%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP       | Medline Borrower LP                                                             | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |  10253000 | PA      | $10059083.99  | 0.61%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ONEDIGITAL BORR 06/12/32  | ONEDIGITAL BORR 06/12/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13892728 | PA      | $13992616.76  | 0.84%             | 2032-07-02      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC    | Cloud Software Group Inc                                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   3299000 | PA      | $3333919.92   | 0.20%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP MCF 03/01/29  | MCAFEE CORP MCF 03/01/29                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1644264 | PA      | $1593563.43   | 0.10%             | 2029-03-01      | Floating      | 7.33%                 | 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        |    656000 | PA      | $671198.21    | 0.04%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| IDERA INC IDERA 03/02/28  | IDERA INC IDERA 03/02/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1989918 | PA      | $1872125.10   | 0.11%             | 2028-03-02      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP       | Medline Borrower LP                                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   8780000 | PA      | $8378754.88   | 0.51%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EDELMAN FINANCI 07/20/26  | EDELMAN FINANCI 07/20/26                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7001746 | PA      | $7057164.82   | 0.43%             | 2028-10-06      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| PAYSAFE FIN PLC/PAYSAFE   | Paysafe Finance PLC / Paysafe Holdings US Corp                                  | CUSIP: 70452AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   5874000 | PA      | $5400674.55   | 0.33%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MILANO ACQUISIT 08/17/27  | MILANO ACQUISIT 08/17/27                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  15133042 | PA      | $14948645.48  | 0.90%             | 2027-10-01      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN     | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1419000 | PA      | $1491171.76   | 0.09%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN  | Graphic Packaging International LLC                                             | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   4955000 | PA      | $5020960.96   | 0.30%             | 2032-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BALL CORP                 | Ball Corp                                                                       | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   8648000 | PA      | $7774727.55   | 0.47%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BALL CORP                 | Ball Corp                                                                       | CUSIP: 058498AX4<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $3807367.60   | 0.23%             | 2031-09-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC       | Station Casinos LLC                                                             | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    592000 | PA      | $554385.80    | 0.03%             | 2031-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO   | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAE9<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6807180.31   | 0.41%             | 2053-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC        | CP Atlas Buyer Inc                                                              | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |   4474000 | PA      | $4517353.06   | 0.27%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| RAISING CANE'S RESTAURAN  | Raising Cane's Restaurants LLC                                                  | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |   2703000 | PA      | $2855357.30   | 0.17%             | 2029-05-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD     | HUB International Ltd                                                           | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   9750000 | PA      | $10158266.92  | 0.61%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MSILF Treasury Portfolio  | MSILF Treasury Portfolio                                                        | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |   3288560 | NS      | $3288560.26   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| POST HOLDINGS INC         | Post Holdings Inc                                                               | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   8647000 | PA      | $8662098.61   | 0.52%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MAVIS TIRE EXPRESS SERVI  | Mavis Tire Express Services Topco Corp                                          | CUSIP: 59155LAA0<br>LEI: 254900NVDM4GTLBL9E56 | Long             | DBT              | CORP              | US        |   5659000 | PA      | $5596659.89   | 0.34%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC     | GFL Environmental Inc                                                           | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   8298000 | PA      | $8609902.65   | 0.52%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE   | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5161000 | PA      | $5315313.90   | 0.32%             | 2030-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC        | Osaic Holdings Inc                                                              | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1403458.04   | 0.08%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN  | Graphic Packaging International LLC                                             | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   2353000 | PA      | $2201459.04   | 0.13%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU  | Sinclair Television Group Inc                                                   | CUSIP: 829259AW0<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |  13895000 | PA      | $13407731.53  | 0.81%             | 2027-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC    | AthenaHealth Group Inc                                                          | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |  17722000 | PA      | $17435823.37  | 1.05%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC    | Energizer Holdings Inc                                                          | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   9851000 | PA      | $9351516.87   | 0.56%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO                | Opal Bidco SAS                                                                  | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   8323000 | PA      | $8411729.84   | 0.51%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BELLRING BRANDS INC       | BellRing Brands Inc                                                             | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |   6292000 | PA      | $6533455.50   | 0.39%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC 08/31/28   | PROOFPOINT INC 08/31/28                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1722043 | PA      | $1726890.83   | 0.10%             | 2028-08-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PETSMART INC PE 01/29/28  | PETSMART INC PE 01/29/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4129641 | PA      | $4127060.06   | 0.25%             | 2028-02-12      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| X CORP TWTR TL 10/26/29   | X CORP TWTR TL 10/26/29                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6480323 | PA      | $6325897.03   | 0.38%             | 2029-10-26      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| LABL INC                  | LABL Inc                                                                        | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   5067000 | PA      | $4214581.12   | 0.25%             | 2031-10-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC    | Energizer Holdings Inc                                                          | CUSIP: 29272WAF6<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   5613000 | PA      | $5700618.93   | 0.34%             | 2027-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING COR 12/15/27  | IRB HOLDING COR 12/15/27                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2796156 | PA      | $2798546.67   | 0.17%             | 2027-12-15      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| LogMeIn, Inc. ( 04/30/28  | LogMeIn, Inc. ( 04/30/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6193482 | PA      | $2345781.50   | 0.14%             | 2028-04-30      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| PROJECT RUBY UL 03/10/28  | PROJECT RUBY UL 03/10/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1990000 | PA      | $1994975.00   | 0.12%             | 2028-03-10      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC           | Hanesbrands Inc                                                                 | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |   7064000 | PA      | $7444007.88   | 0.45%             | 2031-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC     | Caesars Entertainment Inc                                                       | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   5662000 | PA      | $5354829.14   | 0.32%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP              | Navient Corp                                                                    | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    709000 | PA      | $739111.61    | 0.04%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO   | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAJ8<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   3287000 | PA      | $3183344.22   | 0.19%             | 2054-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC           | Star Parent Inc                                                                 | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |   3372000 | PA      | $3550206.29   | 0.21%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC           | Gen Digital Inc                                                                 | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   8094000 | PA      | $8372773.55   | 0.50%             | 2030-09-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CORELOGIC INC             | CoreLogic Inc                                                                   | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    696000 | PA      | $656642.04    | 0.04%             | 2028-05-01      | Fixed         | 4.50%                 | 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        |  34510000 | PA      | $32016731.87  | 1.93%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARS.COM INC              | Cars.com Inc                                                                    | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |   6913000 | PA      | $6904534.34   | 0.42%             | 2028-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VETSTRATEGY CAN 12/06/28  | VETSTRATEGY CAN 12/06/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7532766 | PA      | $7582181.24   | 0.46%             | 2028-12-06      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS  | EMRLD Borrower LP / Emerald Co-Issuer Inc                                       | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1189000 | PA      | $1213801.35   | 0.07%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO      | Veritiv Operating Co                                                            | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |   7533000 | PA      | $8174261.69   | 0.49%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ROCKET COS INC            | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4556000 | PA      | $4652738.46   | 0.28%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US  | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2558000 | PA      | $2651067.71   | 0.16%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC     | Molina Healthcare Inc                                                           | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   4739000 | PA      | $4140970.90   | 0.25%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL          | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4616000 | PA      | $4728588.86   | 0.29%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC     | SS&C Technologies Inc                                                           | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   3357000 | PA      | $3455017.69   | 0.21%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JUMP FINANCIAL 02/26/32   | JUMP FINANCIAL 02/26/32                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    869631 | PA      | $869631.48    | 0.05%             | 2032-02-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP             | Carnival Corp                                                                   | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2000000 | PA      | $2036732.00   | 0.12%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS   | Surgery Center Holdings Inc                                                     | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   1378000 | PA      | $1418591.75   | 0.09%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMSPEC PARENT L 12/22/31  | AMSPEC PARENT L 12/22/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2311807 | PA      | $2329145.40   | 0.14%             | 2031-12-22      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC             | FirstCash Inc                                                                   | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2935679.85   | 0.18%             | 2028-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING  | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |   3580000 | PA      | $3619827.50   | 0.22%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP   | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                 | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1356000 | PA      | $1276205.37   | 0.08%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER     | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21394000 | PA      | $22137171.94  | 1.33%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP      | Wrangler Holdco Corp                                                            | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1312000 | PA      | $1356579.14   | 0.08%             | 2032-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI  | Charles River Laboratories International Inc                                    | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |   4291000 | PA      | $3942038.72   | 0.24%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC    | EquipmentShare.com Inc                                                          | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   1366000 | PA      | $1441370.42   | 0.09%             | 2028-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY  | Standard Industries Inc/NY                                                      | CUSIP: 853496AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1426000 | PA      | $1407603.60   | 0.08%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING COR 12/15/27  | IRB HOLDING COR 12/15/27                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1413174 | PA      | $1414381.91   | 0.09%             | 2027-12-15      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE            | Brink's Co/The                                                                  | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   9090000 | PA      | $9372280.86   | 0.57%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG    | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4671000 | PA      | $4759945.18   | 0.29%             | 2032-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ELASTIC NV                | Elastic NV                                                                      | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |   1500000 | PA      | $1428140.40   | 0.09%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP               | McAfee Corp                                                                     | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $11139049.20  | 0.67%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV           | Cemex SAB de CV                                                                 | CUSIP: 151290BX0<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |   2000000 | PA      | $1985194.40   | 0.12%             | 2030-09-17      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC  | Sensata Technologies Inc                                                        | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    667000 | PA      | $609211.39    | 0.04%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL    | Froneri Lux FinCo SARL                                                          | CUSIP: 35901MAA5<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |   9149000 | PA      | $9122026.74   | 0.55%             | 2032-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE     | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |  12101000 | PA      | $13275909.32  | 0.80%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC    | Venture Global LNG Inc                                                          | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2357000 | PA      | $2439584.57   | 0.15%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYST 01/15/27  | SPIRIT AEROSYST 01/15/27                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3755126 | PA      | $3767329.71   | 0.23%             | 2027-01-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| MAVIS TIRE EXPR 05/04/28  | MAVIS TIRE EXPR 05/04/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6309337 | PA      | $6324448.29   | 0.38%             | 2028-05-04      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA  | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |   3917000 | PA      | $4136229.55   | 0.25%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC             | Nordstrom Inc                                                                   | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1573267.04   | 0.09%             | 2027-03-15      | Fixed         | 4.00%                 | 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        |    993000 | PA      | $932918.04    | 0.06%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC       | Lightning Power LLC                                                             | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |  26977000 | PA      | $28223822.99  | 1.70%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RH RH TL B2 1L 10/20/28   | RH RH TL B2 1L 10/20/28                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1284435 | PA      | $1256742.28   | 0.08%             | 2028-10-20      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP            | Open Text Corp                                                                  | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   4515000 | PA      | $4350019.51   | 0.26%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC      | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5179000 | PA      | $5485954.15   | 0.33%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST  | Service Properties Trust                                                        | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   7577000 | PA      | $7929716.93   | 0.48%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC     | SS&C Technologies Inc                                                           | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   1742000 | PA      | $1743807.67   | 0.11%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PROJECT ALPHA I 11/21/32  | PROJECT ALPHA I 11/21/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5116145 | PA      | $5125763.45   | 0.31%             | 2032-11-21      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME     | Six Flags Entertainment Corp                                                    | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   3352000 | PA      | $3418912.62   | 0.21%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN    | Cogent Communications Group LLC / Cogent Finance Inc                            | CUSIP: 19240WAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2057000 | PA      | $2018396.08   | 0.12%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STARLIGHT PAREN 03/13/32  | STARLIGHT PAREN 03/13/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3946745 | PA      | $3907277.66   | 0.24%             | 2032-03-13      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC      | Amentum Holdings Inc                                                            | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    684000 | PA      | $708108.95    | 0.04%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PAPA JOHN'S INTERNATIONA  | Papa John's International Inc                                                   | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |   5299000 | PA      | $5070498.64   | 0.31%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC9/19/2030  | STAR PARENT INC9/19/2030                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8284721 | PA      | $8203613.69   | 0.49%             | 2030-09-19      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| TRICORBRAUN HOL 03/03/28  | TRICORBRAUN HOL 03/03/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4021824 | PA      | $4026811.02   | 0.24%             | 2028-03-03      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV           | Cemex SAB de CV                                                                 | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |   1500000 | PA      | $1533300.00   | 0.09%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| AMSPEC PARENT L 12/22/31  | AMSPEC PARENT L 12/22/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    142265 | PA      | $143332.02    | 0.01%             | 2031-12-22      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| VESTIS CORP VESD 2/14/31  | VESTIS CORP VESD 2/14/31                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4383644 | PA      | $4208298.50   | 0.25%             | 2031-02-24      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC    | RB Global Holdings Inc                                                          | CUSIP: 76774LAB3<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |   1945000 | PA      | $1993413.58   | 0.12%             | 2028-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO       | Go Daddy Operating Co LLC / GD Finance Co Inc                                   | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3489824.10   | 0.21%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC        | Osaic Holdings Inc                                                              | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |   3665000 | PA      | $3712136.37   | 0.22%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PROAMPAC PG BOR 09/15/28  | PROAMPAC PG BOR 09/15/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    827798 | PA      | $831419.91    | 0.05%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC          | Vail Resorts Inc                                                                | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   5957000 | PA      | $6126245.16   | 0.37%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP           | Fair Isaac Corp                                                                 | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   3502000 | PA      | $3527198.89   | 0.21%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC      | Flutter Treasury DAC                                                            | CUSIP: 344045AA7<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    294000 | PA      | $302539.52    | 0.02%             | 2029-04-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE      | Gates Corp/DE                                                                   | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |   1679000 | PA      | $1729924.07   | 0.10%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE            | Azorra Finance Ltd                                                              | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |   1377000 | PA      | $1435457.78   | 0.09%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO     | Scotts Miracle-Gro Co/The                                                       | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   2027000 | PA      | $1845049.18   | 0.11%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC             | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   4931000 | PA      | $5076558.19   | 0.31%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC         | Post Holdings Inc                                                               | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |  15834000 | PA      | $16149539.95  | 0.97%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BALL CORP                 | Ball Corp                                                                       | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    697000 | PA      | $711981.14    | 0.04%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC    | Venture Global LNG Inc                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2020000 | PA      | $2180729.06   | 0.13%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC          | AmWINS Group Inc                                                                | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |  12457000 | PA      | $12109774.83  | 0.73%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT    | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc              | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8292000 | PA      | $7807816.02   | 0.47%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                   | HCA Inc                                                                         | CUSIP: 404119BZ1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6195225.68   | 0.37%             | 2049-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY        | Ford Motor Co                                                                   | CUSIP: 345370CX6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   6631000 | PA      | $7688417.32   | 0.46%             | 2030-04-22      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD     | HUB International Ltd                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |  11902000 | PA      | $12414512.02  | 0.75%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP    | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7781000 | PA      | $8004120.18   | 0.48%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD       | NCL Corp Ltd                                                                    | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1371000 | PA      | $1409039.07   | 0.08%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DECHRA FINANCE 12/03/31   | DECHRA FINANCE 12/03/31                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2090879 | PA      | $2100549.48   | 0.13%             | 2031-12-03      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| HCA INC                   | HCA Inc                                                                         | CUSIP: 404119BV0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3703621.80   | 0.22%             | 2047-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC    | SCIH Salt Holdings Inc                                                          | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $692592.60    | 0.04%             | 2029-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC           | Madison IAQ LLC                                                                 | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   5265000 | PA      | $5130753.56   | 0.31%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC          | CSC Holdings LLC                                                                | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $4587721.70   | 0.28%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC       | Station Casinos LLC                                                             | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   3311000 | PA      | $3238948.83   | 0.20%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CONCENTRA HEALTH SERVICE  | Concentra Health Services Inc                                                   | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |    657000 | PA      | $675882.34    | 0.04%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDIN 10/09/29  | ELLUCIAN HOLDIN 10/09/29                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2992500 | PA      | $3000460.05   | 0.18%             | 2029-10-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US  | Sealed Air Corp/Sealed Air Corp US                                              | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2351000 | PA      | $2374941.34   | 0.14%             | 2028-02-01      | Fixed         | 6.12%                 | 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        |   1431000 | PA      | $1360778.98   | 0.08%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC     | Molina Healthcare Inc                                                           | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   6142000 | PA      | $6067517.19   | 0.37%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC             | TransDigm Inc                                                                   | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1663000 | PA      | $1672668.18   | 0.10%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING    | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC     | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   8098000 | PA      | $8111774.70   | 0.49%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON      | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp  | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    850000 | PA      | $849422.77    | 0.05%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATI 11/29/30  | VERITIV OPERATI 11/29/30                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2607954 | PA      | $2621815.63   | 0.16%             | 2030-11-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AECOM                     | AECOM                                                                           | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |   2442000 | PA      | $2463501.81   | 0.15%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRUIST INSURANC 03/08/32  | TRUIST INSURANC 03/08/32                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13511826 | PA      | $13829354.33  | 0.83%             | 2032-05-06      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE            | Azorra Finance Ltd                                                              | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    344000 | PA      | $351956.90    | 0.02%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC       | Axon Enterprise Inc                                                             | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1059634.43   | 0.06%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP              | Magnera Corp                                                                    | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |   3674000 | PA      | $3461973.46   | 0.21%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP    | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4747000 | PA      | $4444806.93   | 0.27%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY            | Ryan Specialty LLC                                                              | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   8152000 | PA      | $8181705.89   | 0.49%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SNAP INC                  | Snap Inc                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   6797000 | PA      | $6974374.51   | 0.42%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC      | Aramark Services Inc                                                            | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1045730.05   | 0.06%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE     | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   4148000 | PA      | $4269663.16   | 0.26%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ProAmpac PG Bor 09/15/28  | ProAmpac PG Bor 09/15/28                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2115742 | PA      | $2124998.45   | 0.13%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-23

**Name of Applicant:** First Trust Exchange-Traded Fund IV

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer