Oaktree Diversified Income Fund Inc.

Consolidated Schedule of Investments

September 30, 2025 (Unaudited)

CORPORATE CREDIT - 60.0%			Par				Value
Senior Loans (Syndicated) - 35.3%^(a)
Aerospace & Defense - 0.5%
Bleriot US Bidco Inc, Senior Secured First Lien Tranche B Term Loan, 6.50% (3 mo. SOFR US + 2.50%), 10/17/2030, (0.00% Floor)			$	740,644		$	741,833
Peraton Corp., Senior Secured First Lien Tranche B Term Loan, 8.11% (1 mo. SOFR US + 3.75%), 02/01/2028, (0.75% Floor)			338,073				285,989
Spirit AeroSystems, Inc., Senior Secured First Lien Tranche B Term Loan, 8.81% (3 mo. SOFR US + 4.50%), 01/15/2027, (0.50% Floor)			66,316				66,689
TransDigm, Inc., Senior Secured First Lien Tranche J Term Loan, 6.50% (3 mo. SOFR US + 2.50%), 02/28/2031, (0.00% Floor)			509,104				509,427
							1,603,938

Air Freight & Logistics - 0.1%
Radar Bidco Sarl, Senior Secured First Lien Tranche B3 Term Loan, 5.48% (3 mo. EURIBOR + 3.50%), 04/25/2031, (0.00% Floor)		EUR	410,000				485,509

Automobiles - 0.2%
MajorDrive Holdings IV LLC, Senior Secured First Lien Tranche B Term Loan, 8.38% (3 mo. SOFR US + 4.00%), 06/01/2028, (0.50% Floor)			685,436				670,202

Beverages - 0.3%
Pegasus Bidco BV, Senior Secured First Lien Tranche B Term Loan, 6.76% (3 mo. SOFR US + 2.75%), 07/12/2029, (0.00% Floor)			558,241				561,032
Refresco, Tranche B Term Loan, 4.95%, 07/12/2029		EUR	434,985				510,696
							1,071,728

Building Products - 0.3%
Aquiles Spain Bidco SA, Senior Secured First Lien Tranche B Term Loan, 6.77% (6 mo. EURIBOR + 4.65%), 03/29/2029, (0.00% Floor)		EUR	300,000				347,593
BME Group Holding BV, Senior Secured First Lien Tranche B2 Term Loan, 6.78% (3 mo. EURIBOR + 4.75%), 12/27/2029, (0.00% Floor)		EUR	500,000				503,449
							851,042

Capital Markets - 0.5%
DRW Holdings LLC, Senior Secured First Lien Tranche B Term Loan, 7.50% (3 mo. SOFR US + 3.50%), 06/26/2031, (0.00% Floor)			990,000				989,075
Urbaser, Senior Secured First Lien Tranche B Term Loan, 5.39% (1 mo. EURIBOR + 3.50%), 06/28/2032, (0.00% Floor)		EUR	500,000				589,624
							1,578,699

Chemicals - 1.8%
Akzo Nobel Specialty Chemicals, Senior Secured First Lien Tranche B Term Loan, 5.43% (1 mo. EURIBOR + 3.50%), 04/03/2028, (0.00% Floor)		EUR	300,000				353,639
INEOS Finance PLC, Senior Secured First Lien Tranche B Term Loan, 5.41% (1 mo. EURIBOR + 3.50%), 06/23/2031, (0.00% Floor)		EUR	247,403				272,854
INEOS Quattro Holdings UK Ltd., Senior Secured First Lien Tranche B Term Loan
6.12% (1 mo. EURIBOR + 4.25%), 01/29/2026, (0.00% Floor)		EUR	200,000				214,470
6.41% (1 mo. EURIBOR + 4.50%), 03/29/2029, (0.00% Floor)		EUR	250,000				270,970
INEOS US Finance LLC, Senior Secured First Lien Tranche B Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 02/19/2030, (0.00% Floor)			990,000				899,663
Kersia, Senior Secured First Lien Term Loan, 5.75% (3 mo. EURIBOR + 3.75%), 12/23/2027		EUR	500,000				590,696
Nobian, Senior Secured First Lien Tranche B Term Loan
5.69% (3 mo. EURIBOR + 3.75%), 07/09/2029, (0.00% Floor)		EUR	185,000				215,992
5.53% (3 mo. EURIBOR + 3.50%), 07/15/2030, (0.00% Floor)		EUR	425,000				494,764
Rohm Holding GmbH, Senior Secured First Lien Term Loan, 7.08% (6 mo. EURIBOR + 5.00%), 01/29/2029, (0.00% Floor)		EUR	485,580				515,581
SCIH Salt Holdings, Inc., Senior Secured First Lien Tranche B1 Term Loan, 7.20% (3 mo. SOFR US + 3.00%), 01/31/2029, (0.75% Floor)			833,700				835,522
Touchdown Acquirer, Inc., Senior Secured First Lien Tranche B Term Loan, 6.95% (3 mo. SOFR US + 2.75%), 02/21/2031, (0.00% Floor)			820,067				820,452
Windsor Holdings III LLC, Senior Secured First Lien Tranche B Term Loan, 6.92% (1 mo. SOFR US + 2.75%), 08/01/2030, (0.00% Floor)			294,043				294,656
							5,779,259

Commercial Services & Supplies - 2.0%
Access CIG LLC, Senior Secured First Lien Term Loan, 8.03% (1 mo. SOFR US + 4.00%), 08/19/2030, (0.00% Floor)			931,042				934,989
Acropole Holding SAS, Senior Secured First Lien Tranche B Term Loan, 5.50% (3 mo. EURIBOR + 3.50%), 07/26/2032, (0.00% Floor)		EUR	424,038				500,928
Admiral Bidco GmbH, First Lien Tranche B Term Loan, 6.60% (3 mo. EURIBOR + 4.25%), 04/12/2032		EUR	198,875				236,686
Admiral Bidco GmbH, First Lien Tranche DD Delay Draw Term Loan, 6.60% (3 mo. EURIBOR + 4.25%), 04/12/2032		EUR	16,125				19,191
Allied Universal Holdco LLC, Senior Secured First Lien Tranche B Term Loan, 7.61% (1 mo. SOFR US + 3.25%), 08/20/2032, (0.00% Floor)			1,100,000				1,105,379
Atlas Luxco, Senior Secured First Lien Tranche B Term Loan, 5.68% (1 mo. EURIBOR + 3.75%), 08/20/2032, (0.00% Floor)		EUR	550,000				648,958
DIOT-SIACI BidCo SAS, First Lien Tranche DD Delayed Draw Term Loan, 5.39% (3 mo. EURIBOR + 3.50%), 07/26/2032		EUR	100,962				119,269
Garda World Security Corp., Senior Secured First Lien Tranche B Term Loan, 7.17% (1 mo. SOFR US + 3.00%), 02/01/2029, (0.00% Floor)			985,000				987,462
Gategroup Finance International Sarl, Senior Secured First Lien Tranche B Term Loan, 6.24% (EurIBOR (4 months) + 4.25%), 06/10/2032, (0.00% Floor)		EUR	275,000				327,143
Trescal, Senior Secured First Lien Tranche B Term Loan, 5.44% (3 mo. EURIBOR + 3.50%), 07/07/2032, (0.00% Floor)		EUR	335,000				396,926
Trugreen LP, Senior Secured First Lien Tranche B Term Loan, 8.36% (1 mo. SOFR US + 4.00%), 11/02/2027, (0.75% Floor)			598,297				588,575
TTD Holding IV GmbH, Senior Secured First Lien Tranche B5 Term Loan, 5.38% (1 mo. EURIBOR + 3.50%), 10/04/2029, (0.00% Floor)		EUR	500,000				578,562
							6,444,068

Construction & Engineering - 0.6%
ADB Companies LLC, Senior Secured First Lien Term Loan, 12.02% (3 mo. SOFR US + 6.50%), 07/30/2026, (1.00% Floor) ^(b)			954,177				925,647
Artera Services LLC, Senior Secured First Lien Term Loan, 8.80% (3 mo. SOFR US + 4.50%), 02/10/2031, (0.00% Floor)			313,443				281,412
Tiger Acquisition LLC, Senior Secured First Lien Tranche B Term Loan, 6.64% (1 mo. SOFR US + 2.50%), 08/23/2032, (0.00% Floor)			896,176				894,415
							2,101,474

Consumer Staples Distribution & Retail - 0.1%
Boots Group Bidco Ltd., Senior Secured First Lien Tranche B Term Loan, 5.52% (3 mo. EURIBOR + 3.50%), 08/30/2032, (0.00% Floor)		EUR	390,000				462,570

Containers & Packaging - 0.7%
Charter Next Generation, Inc., Senior Secured First Lien Tranche B Term Loan, 6.93% (1 mo. SOFR US + 2.75%), 12/02/2030, (0.75% Floor)			974,431				978,416
Clydesdale Acquisition Holdings, Inc., Senior Secured First Lien Tranche B Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 03/29/2032, (0.50% Floor)			490,180				489,979
Clydesdale Acquisition Holdings, Inc., Senior Secured First Lien Tranche B-DD Delay Draw Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 03/29/2032, (0.50% Floor) ^(c)			8,591				258
Proampac PG Borrower LLC, Senior Secured First Lien Tranche B Term Loan
8.19% (3 mo. SOFR US + 4.00%), 09/15/2028, (0.75% Floor)			395,135				397,111
8.32% (3 mo. SOFR US + 4.00%), 09/15/2028, (0.75% Floor)			502,554				505,067
							2,370,831

Distributors - 0.3%
Dealer Tire Financial LLC, Senior Secured First Lien Tranche B5 Term Loan, 7.16% (1 mo. SOFR US + 3.00%), 07/02/2031, (0.50% Floor)			892,331				890,100

Diversified Consumer Services - 2.3%
Adtalem Global Education, Inc., Senior Secured First Lien Tranche B Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 08/14/2028, (0.75% Floor)			453,947				455,082
AI Aqua Merger Sub, Inc., Senior Secured First Lien Tranche B Term Loan, 7.28% (1 mo. SOFR US + 3.00%), 07/31/2028, (0.50% Floor)			1,050,816				1,054,079
Armorica Lux Sarl, Senior Secured First Lien Tranche B Term Loan, 6.95% (3 mo. EURIBOR + 4.93%), 07/28/2028, (0.00% Floor)		EUR	500,000				569,416
Babilou, Senior Secured First Lien Tranche B Term Loan, 6.05% (6 mo. EURIBOR + 4.00%), 11/18/2030, (0.00% Floor)		EUR	455,000				502,922
Cervantes Bidco SL, Senior Secured First Lien Tranche B Term Loan, 5.29% (6 mo. EURIBOR + 3.25%), 07/07/2031, (0.00% Floor)		EUR	300,000				355,102
Fugue Finance LLC, Senior Secured First Lien Tranche B Term Loan, 6.95% (3 mo. SOFR US + 2.75%), 01/09/2032, (0.50% Floor)			845,755				848,703
Galileo Global Education Operations SAS, Senior Secured First Lien Tranche B4 Term Loan, 5.28% (3 mo. EURIBOR + 3.25%), 07/10/2031, (0.00% Floor)		EUR	395,000				464,416
Houghton Mifflin Harcourt Co., Senior Secured First Lien Tranche B Term Loan, 9.61% (1 mo. SOFR US + 5.25%), 04/09/2029, (0.50% Floor)			431,961				388,195
KUEHG Corp., Senior Secured First Lien Tranche B Term Loan, 7.04% (3 mo. SOFR US + 2.75%), 06/12/2030, (0.50% Floor)			1,089,113				1,089,679
Renaissance Holdings Corp., Senior Secured First Lien Tranche B Term Loan, 8.16% (1 mo. SOFR US + 4.00%), 04/08/2030, (0.50% Floor)			883,518				768,016
University Support Services LLC, Senior Secured First Lien Tranche B Term Loan
6.91% (1 mo. SOFR US + 2.75%), 02/12/2029, (0.50% Floor)			20,369				20,091
7.07% (1 mo. SOFR US + 2.75%), 02/12/2029, (0.50% Floor)			657,262				648,294
Verisure Holding AB, Senior Secured First Lien Tranche B Term Loan, 5.00% (3 mo. EURIBOR + 3.00%), 03/27/2028, (0.00% Floor)		EUR	250,000				294,812
							7,458,807

Diversified Telecommunication Services - 0.7%
Cincinnati Bell, Inc., Senior Secured First Lien Tranche B5 Term Loan, 6.41% (1 mo. SOFR US + 2.25%), 11/24/2028			714,535				716,372
Iridium Satellite LLC, First Lien Tranche B4 Term Loan, 6.57% (1 mo. Term SOFR + 2.25%), 09/20/2030			475,000				451,119
Windstream Services LLC, Tranche B Term Loan, 8.16% (1 mo. Term SOFR + 4.00%), 09/27/2032			475,000				471,141
Zayo Group Holdings, Inc., Senior Secured First Lien Tranche B Term Loan
7.54% (1 mo. SOFR US + 3.00%), 03/09/2027, (0.00% Floor)			292,759				289,398
8.49% (1 mo. SOFR US + 4.18%), 03/09/2027, (0.50% Floor)			325,985				327,060
							2,255,090

Electric Utilities - 0.1%
Cornerstone Generation LLC, Senior Secured First Lien Tranche B Term Loan, 7.48% (3 mo. SOFR US + 3.25%), 10/28/2031, (0.00% Floor)			400,000				403,300

Electronic Equipment, Instruments & Components - 0.5%
LTI Holdings, Inc., Senior Secured First Lien Tranche B Term Loan, 7.91% (1 mo. SOFR US + 3.75%), 07/30/2029, (0.00% Floor)			1,138,500				1,150,090
Project Aurora, Term Loan, 5.13%, 09/24/2032		EUR	310,000				365,549
							1,515,639

Entertainment - 0.6%
City Football Group Ltd., Senior Secured First Lien Tranche B1 Term Loan, 8.04% (1 mo. SOFR US + 3.50%), 07/22/2030, (0.00% Floor)			1,028,007				1,030,151
Learfield Communications LLC, Senior Secured First Lien Tranche B Term Loan, 8.82% (1 mo. SOFR US + 4.50%), 06/30/2028, (0.00% Floor)			201,982				204,276
StubHub Holdco Sub LLC, Senior Secured First Lien Tranche B Term Loan, 8.91% (1 mo. SOFR US + 4.75%), 03/15/2030, (0.00% Floor)			564,052				560,526
							1,794,953

Financial Services - 0.3%
Apex Group Treasury, Senior Secured First Lien Tranche B Term Loan, 5.66% (1 mo. EURIBOR + 3.75%), 02/27/2032, (0.00% Floor)		EUR	105,000				121,324
Dynamo Newco II GmbH, Senior Secured First Lien Tranche B Term Loan, 5.41% (1 mo. EURIBOR + 3.50%), 10/31/2031, (0.00% Floor)		EUR	220,000				260,391
Galaxy Bidco Ltd., Senior Secured First Lien Tranche B Term Loan, 6.04% (6 mo. EURIBOR + 4.00%), 12/17/2029, (0.00% Floor)		EUR	500,000				592,574
							974,289

Food Products - 1.0%
Fiesta Purchaser, Inc., Senior Secured First Lien Tranche B Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 02/12/2031, (0.00% Floor)			617,215				616,734
Flora Food Management US Corp., Senior Secured First Lien Tranche B12 Term Loan, 8.19% (SOFR + 3.75%), 01/03/2028, (0.00% Floor)			764,910				739,668
Froneri US, Inc., Senior Secured First Lien Tranche B6 Term Loan, 7.59% (1 mo. Term SOFR + 2.50%), 07/16/2032			500,000				499,542
POP Bidco SAS, Senior Secured First Lien Tranche B Term Loan, 6.58% (6 mo. EURIBOR + 4.50%), 11/26/2031, (0.00% Floor)		EUR	510,000				602,839
Upfield (Flora Food), Senior Secured First Lien Tranche B11 Term Loan, 9.30% (SONIA + 5.25%), 01/03/2028, (0.00% Floor)		GBP	500,000				661,055
							3,119,838

Health Care Equipment & Supplies - 0.2%
Auris Luxembourg III Sarl, Senior Secured First Lien Tranche B7 Term Loan, 5.70% (3 mo. EURIBOR + 3.75%), 02/28/2029, (0.00% Floor)		EUR	500,000				588,394

Health Care Providers & Services - 3.6%
Almaviva Sante, Senior Secured First Lien Tranche B Term Loan, 6.25% (3 mo. EURIBOR + 4.25%), 04/10/2031, (0.00% Floor)		EUR	500,000				591,723
Baart Programs, Inc., Senior Secured First Lien Tranche DD Delay Draw Term Loan, 9.52% (3 mo. SOFR US + 5.00%), 06/11/2027, (1.00% Floor) ^(b)			411,247				360,252
Baart Programs, Inc., Senior Secured Second Lien Tranche DD Delay Draw Term Loan
13.02% (3 mo. SOFR US + 8.50%), 06/11/2028, (1.00% Floor) ^(b)			475,131				218,560
13.31% (3 mo. SOFR US + 8.50%), 06/11/2028, (1.00% Floor) ^(b)			109,025				50,152
CHG Healthcare Services, Inc., Senior Secured First Lien Tranche B1 Term Loan
6.91% (1 mo. SOFR US + 2.75%), 09/29/2028, (0.50% Floor)			19				19
7.05% (3 mo. SOFR US + 2.75%), 09/29/2028, (0.50% Floor)			979,981				981,333
Covetrus, Inc., Senior Secured First Lien Term Loan, 9.00% (3 mo. SOFR US + 5.00%), 10/15/2029, (0.50% Floor)			891,281				798,253
Electron Bidco, Inc., Senior Secured First Lien Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 11/01/2028, (0.50% Floor)			788,939				791,298
Elsan SAS, First Lien Tranche B Term Loan, 5.48% (3 mo. EURIBOR + 3.50%), 09/17/2031		EUR	500,000				588,524
Euromedic/Affidea, Senior Secured First Lien Tranche B Term Loan, 5.69% (3 mo. EURIBOR + 3.75%), 07/20/2029, (0.00% Floor)		EUR	235,000				277,533
Global Medical Response, Inc., Senior Secured First Lien Tranche B Term Loan, 7.63% (1 mo. SOFR US + 3.50%), 09/20/2032, (0.00% Floor)			938,077				939,419
HomeVi SASU, Senior Secured First Lien Tranche B Term Loan, 6.78% (3 mo. EURIBOR + 4.75%), 10/31/2029, (0.00% Floor)		EUR	500,000				590,132
Independent Vetcare, Senior Secured First Lien Tranche B13 Term Loan, 9.21% (SONIA + 5.00%), 12/12/2028, (0.00% Floor)		GBP	215,000				290,734
IVI America LLC, Senior Secured First Lien Tranche B Term Loan, 8.05% (3 mo. SOFR US + 3.75%), 04/09/2031, (0.00% Floor)			543,125				547,198
Nidda Healthcare Holding GmbH, Senior Secured First Lien Tranche B Term Loan, 5.53% (1 mo. EURIBOR + 3.50%), 02/21/2030, (0.00% Floor)		EUR	420,000				495,472
Schoen Klinik SE, Senior Secured First Lien Tranche B2 Term Loan, 5.00% (3 mo. EURIBOR + 3.00%), 01/10/2031, (0.00% Floor)		EUR	285,000				336,278
Southern Veterinary Partners LLC, Senior Secured First Lien Tranche B Term Loan, 6.82% (3 mo. SOFR US + 2.50%), 12/04/2031, (0.00% Floor)			1,097,250				1,096,454
Takecare Bidco SAS, Senior Secured First Lien Tranche B1 Term Loan, 5.50% (3 mo. EURIBOR + 3.50%), 12/17/2031, (0.00% Floor)		EUR	500,000				590,924
US Renal Care, Inc., First Lien Term Loan, 9.43% (1 mo. Term SOFR + 5.00%), 06/28/2028			650,000				622,274
VetStrategy Canada Holdings, Inc., First Lien Tranche B Term Loan, 8.05% (3 mo. Term SOFR + 3.75%), 12/06/2028			788,132				792,238
Vivalto Sante, Senior Secured First Lien Tranche B Term Loan, 5.50% (3 mo. EURIBOR + 3.50%), 07/21/2031, (0.00% Floor)		EUR	475,000				561,627
							11,520,397

Health Care Technology - 1.0%
athenaHealth Group, Inc., Senior Secured First Lien Tranche B Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 02/15/2029, (0.50% Floor)			1,175,531				1,174,673
Cotiviti, Inc., Senior Secured First Lien Tranche B Term Loan, 7.03% (1 mo. SOFR US + 2.75%), 05/01/2031, (0.00% Floor)			397,990				391,688
PointClickCare Technologies, Inc., Senior Secured First Lien Tranche B Term Loan, 6.75% (3 mo. SOFR US + 2.75%), 11/03/2031, (0.00% Floor)			796,000				797,839
Zelis Payments Buyer, Inc., Senior Secured First Lien Tranche B Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 11/26/2031, (0.00% Floor)			855,535				856,604
							3,220,804

Hotels, Restaurants & Leisure - 1.6%
Alterra Mountain Co., Senior Secured First Lien Tranche B6 Term Loan, 6.66% (1 mo. SOFR US + 2.50%), 08/17/2028, (0.00% Floor)			733,583				735,721
Banijay/Betclic, Senior Secured First Lien Tranche B Term Loan, 5.00% (3 mo. EURIBOR + 3.00%), 12/05/2031, (0.00% Floor)		EUR	500,000				592,348
Flynn Restaurant Group LP, Senior Secured First Lien Tranche B2 Term Loan, 7.91% (1 mo. SOFR US + 3.75%), 01/28/2032, (0.00% Floor)			872,620				875,007
IRB Holding Corp., Senior Secured First Lien Tranche B Term Loan, 6.66% (1 mo. SOFR US + 2.50%), 12/15/2027, (0.75% Floor)			491,268				491,919
Kingpin, Senior Secured First Lien Tranche B Term Loan, 7.39% (1 mo. SOFR US + 3.25%), 09/16/2032			1,100,000				1,072,505
Tacala Investment Corp., Senior Secured First Lien Tranche B Term Loan, 7.66% (1 mo. SOFR US + 3.50%), 01/31/2031, (0.75% Floor)			562,285				565,448
Whatabrands LLC, Senior Secured First Lien Tranche B Term Loan, 6.66% (1 mo. SOFR US + 2.50%), 08/03/2028, (0.50% Floor)			770,630				772,102
							5,105,050

Household Durables - 0.2%
Hunter Douglas, Inc., Senior Secured First Lien Tranche B1 Term Loan, 7.25% (3 mo. SOFR US + 3.25%), 01/20/2032, (0.00% Floor)			765,773				767,756

Independent Power and Renewable Electricity Producers - 0.4%
EFS Cogen Holdings I LLC, Senior Secured First Lien Tranche B Term Loan, 7.00% (3 mo. SOFR US + 3.00%), 08/05/2032, (0.00% Floor)			826,935				833,331
Talen Energy Supply LLC, Senior Secured First Lien Tranche TLB-EXIT Term Loan, 6.73% (3 mo. SOFR US + 2.50%), 05/17/2030, (0.50% Floor)			343,987				344,909
Talen Energy Supply LLC, Senior Secured First Lien Tranche B Term Loan, 6.73% (3 mo. SOFR US + 2.50%), 12/15/2031, (0.00% Floor)			173,688				174,140
							1,352,380

Insurance - 0.9%
Acrisure LLC, Senior Secured First Lien Tranche B6 Term Loan, 7.16% (1 mo. SOFR US + 3.00%), 11/06/2030, (0.00% Floor)			498,744				498,512
Amynta Agency Borrower, Inc., Senior Secured First Lien Tranche B Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 12/29/2031, (0.00% Floor)			993,259				990,865
Asurion LLC, Senior Secured First Lien Tranche B10 Term Loan, 8.36% (1 mo. SOFR US + 4.00%), 08/21/2028, (0.00% Floor)			631,020				633,036
Asurion LLC, Senior Secured Second Lien Tranche B3 Term Loan, 9.64% (1 mo. SOFR US + 5.25%), 02/03/2028, (0.00% Floor)			350,000				341,687
Asurion LLC, First Lien Tranche B13 Term Loan, 8.57% (1 mo. Term SOFR + 4.25%), 09/19/2030			99,750				99,241
CRC Insurance Group LLC, Senior Secured Second Lien Term Loan, 8.75% (3 mo. SOFR US + 4.75%), 05/06/2032, (0.00% Floor)			210,526				214,771
							2,778,112

Interactive Media & Services - 1.3%
GoodRx, Inc., Senior Secured First Lien Tranche B Term Loan, 7.91% (1 mo. SOFR US + 3.75%), 07/10/2029, (0.00% Floor)			744,375				750,579
Neptune Bidco US, Inc., Senior Secured First Lien Tranche B Term Loan, 9.53% (3 mo. SOFR US + 5.00%), 04/11/2029, (0.50% Floor)			780,025				744,538
Stepstone Group MidCo 2 GmbH, Senior Secured First Lien Tranche B Term Loan, 6.67% (6 mo. EURIBOR + 4.50%), 12/19/2031, (0.00% Floor)		EUR	500,000				578,955
X Corp., Senior Secured First Lien Tranche B3 Term Loan, 9.50% (Fixed Rate), 10/29/2029, (0.00% Floor)			1,733,000				1,740,825
X Corp., Senior Secured First Lien Tranche B1 Term Loan, 11.11% (3 mo. SOFR US + 6.50%), 10/29/2029, (0.50% Floor)			299,689				294,402
							4,109,299

Leisure Products - 0.3%
Peloton Interactive, Inc., Senior Secured First Lien Term Loan, 9.66% (1 mo. SOFR US + 5.50%), 05/30/2029, (0.00% Floor)			989,485				1,005,069

Life Sciences Tools & Services - 0.7%
Phoenix Newco, Inc., Senior Secured First Lien Tranche B Term Loan, 6.66% (1 mo. SOFR US + 2.50%), 11/15/2028, (0.50% Floor)			794,000				795,572
Sotera Health Holdings LLC, Senior Secured First Lien Tranche B Term Loan, 6.66% (3 mo. SOFR US + 2.50%), 05/30/2031, (0.00% Floor)			832,207				834,462
Star Parent, Inc., Senior Secured First Lien Tranche B Term Loan, 8.00% (3 mo. SOFR US + 4.00%), 09/30/2030, (0.00% Floor)			778,619				779,593
							2,409,627

Machinery - 0.5%
Delachaux Group SA, Senior Secured First Lien Tranche B Term Loan, 5.28% (3 mo. EURIBOR + 3.25%), 04/16/2029, (0.00% Floor)		EUR	220,509				261,802
SPX FLOW, Inc., Senior Secured First Lien Tranche B Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 04/05/2029, (0.50% Floor)			400,212				402,525
TK Elevator Midco GmbH, Senior Secured First Lien Tranche B Term Loan, 5.33% (3 mo. EURIBOR + 3.25%), 04/30/2030, (0.00% Floor)		EUR	460,000				543,329
TSG Solutions, Senior Secured First Lien Term Loan, 6.03% (3 wk. EURIBOR + 4.00%), 05/04/2032, (0.00% Floor)		EUR	300,000				354,566
							1,562,222

Media - 1.4%
Aragorn Parent Corp., Senior Secured First Lien Tranche B Term Loan, 7.66% (1 mo. SOFR US + 3.50%), 12/15/2028, (0.00% Floor)			640,359				644,816
Century DE Buyer LLC, Senior Secured First Lien Tranche B Term Loan, 7.30% (3 mo. SOFR US + 3.00%), 10/30/2030, (0.00% Floor)			346,509				347,212
Directv Financing LLC, Senior Secured First Lien Tranche EXT Term Loan, 10.08% (3 mo. SOFR US + 5.25%), 08/02/2029, (0.75% Floor)			704,930				707,024
Directv Financing LLC, Senior Secured First Lien Tranche NON-EXT Term Loan, 9.83% (3 mo. SOFR US + 5.00%), 08/02/2027, (0.75% Floor)			115,667				115,892
McGraw-Hill Education, Inc., Senior Secured First Lien Tranche B2 Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 08/06/2031, (0.00% Floor)			594,304				595,187
Univision Communications, Inc., Senior Secured First Lien Tranche B Term Loan
7.64% (1 mo. SOFR US + 3.25%), 01/31/2029, (0.75% Floor)			595,373				592,726
8.55% (3 mo. SOFR US + 4.25%), 06/25/2029, (0.50% Floor)			486,181				487,321
Virgin Media Bristol LLC, Senior Secured First Lien Tranche Y Term Loan, 7.47% (6 mo. SOFR US + 3.18%), 03/31/2031, (0.00% Floor)			185,000				182,688
Virgin Media, Inc., Senior Secured First Lien Tranche Z Term Loan, 5.30% (1 mo. EURIBOR + 3.43%), 10/15/2031, (0.00% Floor)		EUR	115,000				135,757
WideOpenWest, Senior Secured First Lien Term Loan
11.84% (3 mo. SOFR US + 7.00%), 12/11/2028, (1.50% Floor)			337,221				345,389
7.84% (3 mo. SOFR US + 3.00%), 12/11/2028, (1.50% Floor)			474,022				439,063
							4,593,075

Metals & Mining - 0.1%
Arsenal AIC Parent LLC, Senior Secured First Lien Tranche B Term Loan, 6.91% (1 mo. SOFR US + 2.75%), 08/18/2030, (0.00% Floor)			172,293				172,508

Oil, Gas & Consumable Fuels - 0.4%
Freeport LNG Investments LLLP, Senior Secured First Lien Tranche B Term Loan, 7.58% (3 mo. SOFR US + 3.25%), 12/21/2028, (0.00% Floor)			792,829				794,176
Traverse Midstream Partners LLC, Senior Secured First Lien Tranche B Term Loan, 6.81% (3 mo. SOFR US + 2.50%), 02/16/2028, (0.50% Floor)			500,000				501,720
							1,295,896

Pharmaceuticals - 0.5%
AI Sirona Luxembourg Acquisition Sarl, Senior Secured First Lien Tranche B3 Term Loan, 5.91% (1 mo. EURIBOR + 4.00%), 09/29/2028, (0.00% Floor)		EUR	250,000				295,114
AI Sirona Luxembourg Acquisition Sarl, Senior Secured First Lien Tranche B5 Term Loan, 5.91% (1 mo. EURIBOR + 4.00%), 12/16/2030, (0.00% Floor)		EUR	250,000				295,070
Curium Bidco Sarl, Senior Secured First Lien Tranche B Term Loan, 7.00% (3 mo. SOFR US + 3.00%), 08/07/2031, (0.00% Floor)			915,039				916,563
Pharmanovia, Senior Secured First Lien Tranche B3 Term Loan, 6.28% (3 mo. EURIBOR + 4.25%), 02/06/2030, (0.00% Floor)		EUR	300,000				202,524
							1,709,271

Professional Services - 1.9%
Advantage Sales & Marketing, Inc., Senior Secured First Lien Tranche B2 Term Loan, 9.06% (3 mo. SOFR US + 4.25%), 10/28/2027, (0.75% Floor)			503,846				453,068
Blackhawk Network Holdings, Inc., Senior Secured First Lien Tranche B Term Loan, 8.16% (1 mo. SOFR US + 4.00%), 03/12/2029, (1.00% Floor)			939,153				943,924
DTI Holdco, Inc., Senior Secured First Lien Tranche B Term Loan, 8.16% (1 mo. SOFR US + 4.00%), 04/26/2029, (0.75% Floor)			635,457				567,943
Eisner Advisory Group LLC, Senior Secured First Lien Tranche B Term Loan, 8.16% (1 mo. SOFR US + 4.00%), 02/28/2031, (0.50% Floor)			568,095				572,225
Element Materials Technology Group US Holdings, Inc., Senior Secured First Lien Tranche B Term Loan, 7.68% (3 mo. SOFR US + 3.68%), 06/25/2029, (0.50% Floor)			772,045				778,198
Grant Thornton Advisors LLC, Senior Secured First Lien Tranche B Term Loan, 6.66% (1 mo. SOFR US + 2.50%), 05/30/2031, (0.00% Floor)			594,019				591,170
Planet US Buyer LLC, Senior Secured First Lien Tranche B Term Loan, 7.20% (3 mo. SOFR US + 3.00%), 02/10/2031, (0.00% Floor)			617,188				621,264
Project Alpha Intermediate Holding, Senior Secured First Lien Tranche B Term Loan, 7.25% (3 mo. SOFR US + 3.25%), 10/28/2030, (0.50% Floor)			989,880				993,761
Skopima Consilio Parent LLC, Senior Secured First Lien Term Loan, 8.07% (1 mo. SOFR US + 3.75%), 05/17/2028, (0.50% Floor)			903,704				770,127
							6,291,680

Semiconductors & Semiconductor Equipment - 0.2%
Gryphon Acquire NewCo LLC, Senior Secured First Lien Tranche B Term Loan, 6.88% (6 mo. SOFR US + 3.00%), 09/13/2032, (0.00% Floor)			500,000				501,955

Software - 5.2%
Acuris Finance US, Inc., Senior Secured First Lien Tranche B Term Loan, 5.53% (3 mo. EURIBOR + 3.50%), 02/16/2028, (0.00% Floor)		EUR	288,730				339,224
Avalara, Inc., Senior Secured First Lien Tranche B Term Loan, 7.25% (3 mo. SOFR US + 3.25%), 03/29/2032, (0.00% Floor)			1,077,300				1,078,943
Boxer Parent Co., Inc., Senior Secured First Lien Tranche B Term Loan, 7.20% (3 mo. SOFR US + 3.00%), 07/30/2031, (0.00% Floor)			128,355				128,295
Capstone Borrower, Inc., Senior Secured First Lien Tranche B Term Loan, 6.75% (3 mo. SOFR US + 2.75%), 06/17/2030, (0.00% Floor)			374,702				374,546
Castle US Holding Corp., Senior Secured First Lien Tranche B1 Term Loan, 6.15% (1 mo. EURIBOR + 4.25%), 05/31/2030, (0.00% Floor)		EUR	218,319				117,159
Castle US Holding Corp., Senior Secured First Lien Term Loan, 7.90% (1 mo. EURIBOR + 6.00%), 04/29/2030, (2.00% Floor)		EUR	33,567				39,606
Cloud Software Group, Inc., Senior Secured First Lien Tranche B2 Term Loan, 7.25% (1 mo. SOFR US + 3.25%), 03/24/2031, (0.00% Floor)			1,084,550				1,089,875
Cloud Software Group, Inc., Senior Secured First Lien Tranche B1 Term Loan
7.25% (1 mo. SOFR US + 3.25%), 08/13/2032, (0.00% Floor)			1,578				1,584
7.25% (3 mo. SOFR US + 3.25%), 08/13/2032, (0.00% Floor)			629,505				632,152
ConnectWise LLC, Senior Secured First Lien Tranche B Term Loan, 8.02% (3 mo. SOFR US + 3.50%), 09/29/2028, (0.50% Floor)			53,308				53,474
Epicor Software Corp., First Lien Tranche B Term Loan, 6.82% (1 mo. Term SOFR + 2.75%), 05/30/2031			551,695				553,022
Finastra USA, Inc., First Lien Tranche B Term Loan, 8.35% (1 mo. Term SOFR + 4.00%), 09/15/2032			100,000				99,697
Icon Parent, Inc., Senior Secured First Lien Tranche B Term Loan, 6.75% (3 mo. SOFR US + 2.75%), 11/13/2031, (0.00% Floor)			902,000				901,752
Icon Parent, Inc., Senior Secured Second Lien Term Loan, 9.21% (3 mo. SOFR US + 5.00%), 11/12/2032, (0.00% Floor)			150,000				152,227
Ion Platform, Term Loan, 5.88%, 09/30/2032		EUR	475,000				552,099
Ion Trading/Ion Markets, Senior Secured First Lien Term Loan, 5.75% (3 mo. EURIBOR + 3.75%), 04/03/2028, (0.00% Floor)		EUR	494,176				580,058
Kaseya, Inc., Senior Secured First Lien Tranche B Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 03/22/2032, (0.00% Floor)			1,127,131				1,130,079
Leia Finco US LLC, Senior Secured Second Lien Term Loan, 9.57% (3 mo. SOFR US + 5.25%), 10/12/2032, (0.00% Floor)			305,000				305,877
Leia Finco US LLC, Senior Secured First Lien Tranche B Term Loan, 7.57% (3 mo. SOFR US + 3.25%), 10/09/2031, (0.00% Floor)			473,620				474,236
Marcel Bidco GmbH, Senior Secured First Lien Tranche B Term Loan, 5.56% (1 mo. EURIBOR + 3.50%), 11/11/2030, (0.00% Floor)		EUR	300,000				355,298
McAfee Corp., Senior Secured First Lien Tranche B1 Term Loan, 7.22% (1 mo. SOFR US + 3.00%), 03/01/2029, (0.50% Floor)			888,259				851,063
McAfee Corp., Senior Secured First Lien Tranche B2 Term Loan
5.37% (1 mo. EURIBOR + 3.50%), 03/01/2029, (0.00% Floor)		EUR	614				710
5.53% (3 mo. EURIBOR + 3.50%), 03/01/2029, (0.00% Floor)		EUR	241,941				279,746
Mermaid Bidco, Inc., Senior Secured First Lien Tranche B Term Loan, 5.74% (1 mo. EURIBOR + 3.75%), 07/02/2031, (0.00% Floor)		EUR	450,000				533,943
Mitchell International, Inc., Senior Secured First Lien Tranche B Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 06/17/2031, (0.50% Floor)			643,500				643,638
Mitchell International, Inc., Senior Secured Second Lien Term Loan, 9.41% (1 mo. SOFR US + 5.25%), 06/17/2032, (0.00% Floor)			310,000				307,908
P&I Personal & Informatik, Senior Secured First Lien Term Loan, 5.75% (3 mo. EURIBOR + 3.75%), 05/30/2032, (0.00% Floor)		EUR	500,000				591,553
Polaris Newco LLC, Senior Secured First Lien Tranche B Term Loan, 6.03% (3 mo. EURIBOR + 4.00%), 06/05/2028, (0.00% Floor)		EUR	240,000				263,841
Project Boost Purchaser LLC, Senior Secured First Lien Tranche B Term Loan, 7.07% (3 mo. SOFR US + 2.75%), 07/16/2031, (0.00% Floor)			744,384				743,171
Proofpoint, Inc., Senior Secured First Lien Tranche B Term Loan, 7.16% (1 mo. SOFR US + 3.00%), 08/31/2028, (0.50% Floor)			1,293,984				1,300,673
Storable, Inc., Senior Secured First Lien Tranche B Term Loan, 7.41% (1 mo. SOFR US + 3.25%), 04/16/2031, (0.00% Floor)			183,080				183,919
team.blue Finco SARL, Senior Secured First Lien Tranche B Term Loan, 5.61% (1 mo. EURIBOR + 3.70%), 09/28/2029, (0.00% Floor)		EUR	300,000				352,656
UKG, Inc., Senior Secured First Lien Tranche B Term Loan, 6.81% (3 mo. SOFR US + 2.50%), 02/10/2031, (0.00% Floor)			1,063,379				1,063,523
X.AI (Twitter), Senior Secured First Lien Tranche B Term Loan
11.12% (3 mo. SOFR US + 7.25%), 06/28/2030			199,500				193,515
12.50% (Fixed Rate), 06/28/2030, (0.00% Floor)			199,500				207,301
Zodiac Purchaser LLC, Senior Secured First Lien Tranche B Term Loan, 7.66% (1 mo. SOFR US + 3.50%), 02/17/2032, (0.00% Floor)			240,000				238,770
							16,715,133

Specialty Retail - 1.2%
EG America LLC, Senior Secured First Lien Tranche B Term Loan, 7.70% (3 mo. SOFR US + 3.50%), 02/07/2028, (0.00% Floor)			1,121,893				1,129,803
LS Group OpCo Acquistion LLC, Senior Secured First Lien Tranche B1 Term Loan
6.66% (1 mo. SOFR US + 2.50%), 04/23/2031, (0.00% Floor)			78,206				78,133
6.70% (3 mo. SOFR US + 2.50%), 04/23/2031, (0.00% Floor)			664,312				663,691
Motor Fuel Group, Senior Secured First Lien Tranche B10 Term Loan, 8.72% (SONIA + 4.75%), 04/29/2029, (0.00% Floor)		GBP	250,000				337,835
PetSmart LLC, Senior Secured First Lien Tranche B Term Loan, 8.14% (1 mo. SOFR US + 4.00%), 08/18/2032, (0.00% Floor)			1,000,000				986,255
Wand NewCo 3, Inc., Senior Secured First Lien Tranche B2 Term Loan, 6.66% (1 mo. SOFR US + 2.50%), 01/30/2031, (0.00% Floor)			570,482				569,207
							3,764,924

Technology Hardware, Storage & Peripherals - 0.5%
CoreWeave Compute, Term Loan, 8.31%, 08/21/2030			1,200,000				1,194,000
Sandisk Corp., Senior Secured First Lien Tranche B Term Loan, 7.14% (1 mo. SOFR US + 3.00%), 02/23/2032, (0.00% Floor)			456,667				458,096
							1,652,096

Trading Companies & Distributors - 0.2%
Renta Group, Senior Secured First Lien Tranche B Term Loan, 5.83% (3 mo. EURIBOR + 3.75%), 07/31/2030, (0.00% Floor)		EUR	500,000				593,358

Transportation Infrastructure - 0.1%
Boluda Towage, Senior Secured First Lien Tranche B3 Term Loan, 5.41% (1 mo. EURIBOR + 3.50%), 01/31/2030, (0.00% Floor)		EUR	300,000				355,418
Total Senior Loans (Syndicated)							113,895,760

High Yield - 24.7%
Aerospace & Defense - 0.3%
Bombardier, Inc.
8.75%, 11/15/2030 ^(d)			560,000				604,600
7.00%, 06/01/2032 ^(d)			120,000				125,572
TransDigm, Inc., 6.75%, 01/31/2034 ^(d)			115,000				118,987
							849,159

Automobile Components - 0.4%
Dana Financing Luxembourg Sarl, 8.50%, 07/15/2031		EUR	275,000				349,039
IHO Verwaltungs GmbH, 7.00%, 11/15/2031		EUR	305,000				387,969
Valeo SE, 4.63%, 03/23/2032 ^(e)		EUR	400,000				468,042
							1,205,050

Automobiles - 0.4%
JB Poindexter & Company, Inc., 8.75%, 12/15/2031 ^(d)			575,000				602,947
Nissan Motor Co. Ltd., 8.13%, 07/17/2035 ^(d)			745,000				800,219
							1,403,166

Broadline Retail - 0.3%
B&M European Value Retail SA, 6.50%, 11/27/2031		GBP	295,000				402,439
QVC, Inc., 6.88%, 04/15/2029 ^(d)			1,163,000				634,394
							1,036,833

Building Products - 0.1%
LBM Acquisition LLC, 6.25%, 01/15/2029 ^(d)			395,000				366,001

Chemicals - 1.2%
Celanese US Holdings LLC, 6.75%, 04/15/2033			800,000				797,125
INEOS Finance PLC, 6.38%, 04/15/2029		EUR	100,000				116,654
INEOS Quattro Finance 2 PLC, 6.75%, 04/15/2030		EUR	335,000				370,568
Inversion Escrow Issuer LLC, 6.75%, 08/01/2032 ^(d)			479,000				472,169
Kronos International, Inc., 9.50%, 03/15/2029		EUR	155,000				192,386
Olympus Water US Holding Corp.
9.63%, 11/15/2028		EUR	280,000				344,948
6.25%, 10/01/2029 ^(d)			315,000				306,131
7.25%, 06/15/2031 ^(d)			275,000				278,963
6.13%, 02/15/2033 ^(e)		EUR	154,000				181,432
Windsor Holdings III LLC, 8.50%, 06/15/2030 ^(d)			622,000				658,299
							3,718,675

Commercial Services & Supplies - 1.0%
Allied Universal Holdco LLC
3.63%, 06/01/2028		EUR	305,000				355,855
7.88%, 02/15/2031 ^(d)			900,000				944,434
Amber Finco PLC, 6.63%, 07/15/2029		EUR	300,000				371,311
Garda World Security Corp., 8.38%, 11/15/2032 ^(d)			445,000				462,304
Luna, 5.50%, 07/01/2032 ^(e)		EUR	375,000				449,381
TMS International Corp., 6.25%, 04/15/2029 ^(d)			640,000				621,169
							3,204,454

Communications Equipment - 0.3%
CommScope LLC
4.75%, 09/01/2029 ^(d)			524,000				521,291
9.50%, 12/15/2031 ^(d)			291,000				301,396
							822,687

Construction & Engineering - 0.4%
Assemblin Caverion, 6.25%, 07/01/2030		EUR	331,000				407,306
Great Lakes Dredge & Dock Corp., 5.25%, 06/01/2029 ^(d)			340,000				329,740
Pike Corp.
5.50%, 09/01/2028 ^(d)			440,000				438,953
8.63%, 01/31/2031 ^(d)			220,000				236,279
							1,412,278

Consumer Finance - 0.4%
FirstCash, Inc., 5.63%, 01/01/2030 ^(d)			702,000				701,564
goeasy Ltd.
6.88%, 05/15/2030 ^(d)			275,000				273,834
7.38%, 10/01/2030 ^(d)			190,000				191,100
							1,166,498

Consumer Staples Distribution & Retail - 0.1%
Boots Group Finco LP, 5.38%, 08/31/2032 ^(e)		EUR	320,000				386,876

Containers & Packaging - 0.7%
Ardagh Packaging Finance PLC
2.13%, 08/15/2026		EUR	200,000				229,447
5.25%, 08/15/2027 ^(d)			260,000				100,266
Cascades, Inc., 6.75%, 07/15/2030 ^(d)			420,000				428,135
Graham Packaging Company, Inc., 7.13%, 08/15/2028 ^(d)			285,000				285,998
Guala Closures SpA, 6.01% (3 mo. EURIBOR + 4.00%), 06/29/2029, (0.00% Floor) ^(d)		EUR	250,000				295,595
Owens-Brockway Glass Container, Inc., 7.25%, 05/15/2031 ^(d)			785,000				800,092
							2,139,533

Diversified Consumer Services - 0.1%
Verisure Midholding AB, 5.25%, 02/15/2029		EUR	310,000				367,138

Diversified REITs - 0.1%
Global Net Lease, Inc., 4.50%, 09/30/2028 ^(d)			395,000				386,723

Diversified Telecommunication Services - 1.0%
Cogent Communications Group, Inc.
7.00%, 06/15/2027 ^(d)			325,000				324,411
6.50%, 07/01/2032 ^(d)			685,000				666,324
Consolidated Communications, Inc., 6.50%, 10/01/2028 ^(d)			380,000				386,175
Iliad Holding SASU, 5.38%, 04/15/2030		EUR	125,000				150,185
Level 3 Financing, Inc., 7.00%, 03/31/2034 ^(d)			860,000				875,548
Telefonica Europe BV, 6.75% to 09/07/2031 then 8 yr. Swap Rate EUR + 3.62%, Perpetual		EUR	200,000				262,782
VZ Secured Financing BV, 5.25%, 01/15/2033 ^(e)		EUR	379,000				445,511
Zayo Group Holdings, Inc., 6.25% (5.75% Cash and 0.50% PIK until 03/30/2027), 03/09/2030 ^(d)			218,216				209,215
							3,320,151

Energy Equipment & Services - 0.4%
Nabors Industries, Inc., 8.88%, 08/15/2031 ^(d)			685,000				638,468
WBI Operating LLC, 6.50%, 10/15/2033 ^(d)			320,000				319,600
Weatherford International Ltd., 6.75%, 10/15/2033 ^(d)			320,000				320,423
							1,278,491

Entertainment - 0.2%
Warnermedia Holdings, Inc., 5.05%, 03/15/2042			695,000				555,267

Financial Services - 0.9%
Dynamo Newco II GmbH, 6.25%, 10/15/2031		EUR	435,000				531,736
Freedom Mortgage Holdings LLC, 9.13%, 05/15/2031 ^(d)			457,000				486,615
GTCR LLC, 8.50%, 01/15/2031		GBP	250,000				362,498
NCR Corp., 9.50%, 04/01/2029 ^(d)			710,000				769,112
PennyMac Financial Services, Inc., 6.88%, 02/15/2033 ^(d)			300,000				310,159
Worldpay, 7.50%, 01/15/2031 ^(d)			530,000				562,669
							3,022,789

Food Products - 0.6%
Fiesta Purchaser, Inc.
7.88%, 03/01/2031 ^(d)			585,000				618,127
9.63%, 09/15/2032 ^(d)			290,000				313,807
Flora Food Management BV, 6.88%, 07/02/2029		EUR	160,000				188,161
Irca SpA, 5.76% (3 mo. EURIBOR + 3.75%), 12/15/2029, (0.00% Floor) ^(d)		EUR	500,000				592,621
Sammontana Italia SpA, 5.78% (3 mo. EURIBOR + 3.75%), 10/15/2031, (0.00% Floor) ^(d)		EUR	175,000				206,597
							1,919,313

Gas Utilities - 0.5%
CQP Holdco LP
5.50%, 06/15/2031 ^(d)			165,000				163,574
7.50%, 12/15/2033 ^(d)			515,000				559,218
Suburban Propane Partners LP, 5.00%, 06/01/2031 ^(d)			835,000				795,033
							1,517,825

Health Care Providers & Services - 1.2%
Acadia Healthcare Co., Inc., 7.38%, 03/15/2033 ^(d)			1,078,000				1,120,515
CHS/Community Health Systems, Inc., 9.75%, 01/15/2034 ^(d)			480,000				492,360
Community Health Systems, Inc., 10.88%, 01/15/2032 ^(d)			440,000				466,553
LifePoint Health, Inc., 8.38%, 02/15/2032 ^(d)			755,000				805,312
Nidda Healthcare Holding GmbH
5.63%, 02/21/2030		EUR	225,000				272,081
5.38%, 10/23/2030		EUR	160,000				191,451
RAY Financing LLC, 6.50%, 07/15/2031		EUR	410,000				492,061
							3,840,333

Hotel & Resort REITs - 0.3%
Service Properties Trust, 8.63%, 11/15/2031 ^(d)			1,000,000				1,065,469

Hotels, Restaurants & Leisure - 1.5%
Bloomin' Brands, Inc., 5.13%, 04/15/2029 ^(d)			1,015,000				885,026
Cirsa Finance International Sarl, 6.50%, 03/15/2029 ^(d)		EUR	205,000				250,771
CPUK Finance Ltd., 6.50%, 08/28/2026		GBP	210,000				282,923
Hilton Grand Vacations Borrower Escrow LLC, 5.00%, 06/01/2029 ^(d)			675,000				649,617
LHMC Finco 2 Sarl, 8.63% (or 9.38% PIK), 05/15/2030		EUR	100,000				122,144
Marriott Ownership Resorts, Inc., 6.50%, 10/01/2033 ^(d)			800,000				796,911
Motel One GmbH/Muenchen, 7.75%, 04/02/2031		EUR	350,000				443,882
NCL Corp. Ltd., 6.25%, 09/15/2033 ^(d)			315,000				316,827
Sani/Ikos Financial Holdings, 7.25%, 07/31/2030		EUR	325,000				402,702
Six Flags Entertainment Corp, 7.25%, 05/15/2031 ^(d)			425,000				425,447
TUI Cruises GmbH, 6.25%, 04/15/2029		EUR	285,000				350,810
							4,927,060

Household Durables - 0.1%
Miller Homes Group Finco PLC, 7.00%, 05/15/2029		GBP	330,000				447,864

Household Products - 0.1%
Energizer Gamma, 3.50%, 06/30/2029		EUR	335,000				388,220

Independent Power and Renewable Electricity Producers - 0.4%
California Buyer Ltd., 5.63%, 02/15/2032		EUR	372,000				455,922
Lightning Power LLC, 7.25%, 08/15/2032 ^(d)			735,000				778,689
							1,234,611

Insurance - 0.4%
Alliant Holdings LP, 7.38%, 10/01/2032 ^(d)			200,000				206,337
Ardonagh Finco Ltd, 6.88%, 02/15/2031		EUR	410,000				499,538
HUB International Ltd.
5.63%, 12/01/2029 ^(d)			120,000				119,977
7.38%, 01/31/2032 ^(d)			380,000				395,946
							1,221,798

Leisure Products - 0.2%
Asmodee Group AB, 5.76% (3 mo. EURIBOR + 3.75%), 12/15/2029 ^(d)		EUR	470,588				557,493

Life Sciences Tools & Services - 0.5%
Eurofins Scientific SE, 5.75% to 04/04/2032 then 3 mo. EURIBOR + 3.19%, Perpetual		EUR	320,000				395,106
Sotera Health Holdings LLC, 7.38%, 06/01/2031 ^(d)			1,045,000				1,098,575
							1,493,681

Machinery - 0.2%
Alstom SA, 5.87% to 08/29/2029 then 5 yr. Swap Rate EUR + 2.93%, Perpetual		EUR	300,000				374,881
IMA Industria Macchine Automatiche SpA, 5.78% (3 mo. EURIBOR + 3.75%), 04/15/2029 ^(d)		EUR	220,000				261,463
							636,344

Media - 2.2%
AMC Networks, Inc.
10.25%, 01/15/2029 ^(d)			325,000				342,753
4.25%, 02/15/2029			11,000				9,580
10.50%, 07/15/2032 ^(d)			777,000				822,377
Block Communications, Inc., 4.88%, 03/01/2028 ^(d)			310,000				297,157
Cablevision Lightpath LLC, 5.63%, 09/15/2028 ^(d)			415,000				408,594
CCO Holdings LLC
6.38%, 09/01/2029 ^(d)			140,000				142,039
4.75%, 03/01/2030 ^(d)			190,000				182,466
4.25%, 02/01/2031 ^(d)			170,000				156,716
4.50%, 06/01/2033 ^(d)			494,000				439,505
Clear Channel Outdoor Holdings, Inc., 7.50%, 03/15/2033 ^(d)			631,000				660,205
CSC Holdings LLC, 5.50%, 04/15/2027 ^(d)			1,045,000				992,743
Directv Financing LLC
5.88%, 08/15/2027 ^(d)			214,000				213,921
8.88%, 02/01/2030 ^(d)			95,000				93,952
Gray Media, Inc.
9.63%, 07/15/2032 ^(d)			310,000				316,979
7.25%, 08/15/2033 ^(d)			370,000				366,884
Sirius XM Radio, Inc.
5.50%, 07/01/2029 ^(d)			214,000				214,220
4.13%, 07/01/2030 ^(d)			160,000				150,176
3.88%, 09/01/2031 ^(d)			1,060,000				961,322
Univision Communications, Inc., 8.00%, 08/15/2028 ^(d)			40,000				41,480
Virgin Media Secured Finance PLC, 5.25%, 05/15/2029		GBP	140,000				184,440
							6,997,509

Metals & Mining - 0.8%
Cleveland-Cliffs, Inc., 7.38%, 05/01/2033 ^(d)			810,000				827,553
Mineral Resources Ltd.
9.25%, 10/01/2028 ^(d)			380,000				398,642
8.50%, 05/01/2030 ^(d)			705,000				733,898
7.00%, 04/01/2031 ^(d)			150,000				152,035
Novelis Corp., 6.88%, 01/30/2030 ^(d)			375,000				389,176
							2,501,304

Oil, Gas & Consumable Fuels - 0.8%
Comstock Resources, Inc.
6.75%, 03/01/2029 ^(d)			635,000				631,669
5.88%, 01/15/2030 ^(d)			171,000				164,818
Northern Oil & Gas, Inc., 7.88%, 10/15/2033 ^(d)			630,000				627,901
Sunoco LP, 6.25%, 07/01/2033 ^(d)			300,000				305,570
Venture Global LNG, Inc.
9.50%, 02/01/2029 ^(d)			335,000				369,388
8.38%, 06/01/2031 ^(d)			97,000				101,916
Venture Global Plaquemines LNG LLC, 6.75%, 01/15/2036 ^(d)			245,000				260,387
							2,461,649

Paper & Forest Products - 0.1%
Mercer International, Inc., 5.13%, 02/01/2029			550,000				405,886

Passenger Airlines - 0.6%
Spirit AeroSystems, Inc., 11.00%, 02/15/2030 ^(b)			2,000,000				1,900,000

Personal Care Products - 0.1%
Opal Bidco SAS, 5.50%, 03/31/2032 ^(e)		EUR	335,000				407,462

Pharmaceuticals - 0.9%
1261229 BC Ltd., 10.00%, 04/15/2032 ^(d)			930,000				954,033
Cheplapharm Arzneimittel GmbH
6.79% (3 mo. EURIBOR + 4.75%), 05/15/2030, (0.00% Floor) ^(d)		EUR	210,000				247,718
7.50%, 05/15/2030		EUR	300,000				365,275
7.13%, 06/15/2031 ^(e)		EUR	100,000				120,587
Dolcetto Holdco SpA, 5.63%, 07/14/2032 ^(e)		EUR	420,000				508,018
Endo Finance Holdings, Inc., 8.50%, 04/15/2031 ^(d)			725,000				778,736
							2,974,367

Professional Services - 0.2%
Mooney Group SpA, 5.91% (3 mo. EURIBOR + 3.88%), 12/17/2026, (3.88% Floor)		EUR	500,000				569,186

Real Estate Management & Development - 0.6%
Hunt Companies, Inc., 5.25%, 04/15/2029 ^(d)			765,000				746,480
Kennedy-Wilson, Inc.
4.75%, 02/01/2030			1,180,000				1,102,863
5.00%, 03/01/2031			125,000				116,372
							1,965,715

Software - 1.3%
Acuris Finance US, Inc., 5.00%, 05/01/2028 ^(d)			310,000				302,222
Cedacri Mergeco SPA, 7.54% (3 mo. EURIBOR + 5.50%), 05/15/2028, (0.00% Floor) ^(d)		EUR	200,000				237,925
Cloud Software Group, Inc., 6.50%, 03/31/2029 ^(d)			219,000				221,216
Dye & Durham Ltd., 8.63%, 04/15/2029 ^(d)			921,000				911,557
Helios Software Holdings, Inc.
7.88%, 05/01/2029		EUR	295,000				363,656
8.75%, 05/01/2029 ^(d)			620,000				643,338
ION Platform Finance SARL, 6.88%, 09/30/2032 ^(e)		EUR	179,000				210,156
ION Trading Technologies Sarl, 9.50%, 05/30/2029 ^(d)			200,000				212,235
NCR Corp., 5.13%, 04/15/2029 ^(d)			175,000				172,394
TeamSystem SpA
5.00%, 07/01/2031 ^(e)		EUR	365,000				435,174
5.19% (3 mo. EURIBOR + 3.25%), 07/01/2032, (0.00% Floor) ^(d)		EUR	500,000				588,303
							4,298,176

Specialty Retail - 1.4%
Advance Auto Parts, Inc.
7.00%, 08/01/2030 ^(d)			90,000				92,665
7.38%, 08/01/2033 ^(d)			470,000				485,042
CD&R Firefly Bidco, 8.63%, 04/30/2029		GBP	320,000				453,816
eG Global Finance PLC, 11.00%, 11/30/2028		EUR	155,000				200,169
LCM Investments Holdings II LLC, 8.25%, 08/01/2031 ^(d)			870,000				920,785
PetSmart LLC, 7.50%, 09/15/2032 ^(d)			644,000				646,567
Velocity Vehicle Group LLC, 8.00%, 06/01/2029 ^(d)			785,000				787,796
Wand NewCo 3, Inc., 7.63%, 01/30/2032 ^(d)			1,025,000				1,080,760
							4,667,600

Technology Hardware, Storage & Peripherals - 0.3%
Diebold Nixdorf, Inc., 7.75%, 03/31/2030 ^(d)			1,025,000				1,083,798

Textiles, Apparel & Luxury Goods - 0.2%
Afflelou SAS, 6.00%, 07/25/2029		EUR	250,000				307,164
Hanesbrands, Inc., 9.00%, 02/15/2031 ^(d)			465,000				492,806
							799,970

Trading Companies & Distributors - 0.7%
Equipmentshare.Com Inc.
9.00%, 05/15/2028 ^(d)			995,000				1,054,176
8.00%, 03/15/2033 ^(d)			302,000				323,033
FTAI Aviation Investors LLC, 7.88%, 12/01/2030 ^(d)			874,000				929,518
							2,306,727

Transportation Infrastructure - 0.2%
Heathrow Finance PLC, 6.63%, 03/01/2031		GBP	390,000				529,361
Total High Yield							79,760,490
TOTAL CORPORATE CREDIT (Cost $191,073,514)							193,656,250

STRUCTURED CREDIT - 32.2%			Par				Value
Collateralized Loan Obligations - 16.0%
Adagio CLO, Series IX-X, Class E, 8.03% (3 mo. EURIBOR + 6.02%), 09/15/2034, (6.02% Floor)		EUR	1,000,000				1,158,844
Anchorage Capital CLO Ltd.
Series 2016-8A, Class ER2, 11.93% (3 mo. Term SOFR + 7.61%), 10/27/2034, (7.35% Floor) ^(d)			1,500,000				1,508,884
Series 2020-16A, Class ER2, 10.03% (3 mo. Term SOFR + 5.70%), 01/19/2038, (5.70% Floor) ^(d)			2,000,000				1,988,082
Anchorage Credit Funding Ltd.
Series 2019-7A, Class SUB1, 8.28%, 04/25/2037 ^(d)(f)			1,000,000				590,000
Series 2020-12A, Class D, 5.93%, 10/25/2038 ^(d)			750,000				749,250
Ares European CLO, Series 21A, Class E, 7.20% (3 mo. EURIBOR + 4.75%), 04/15/2038, (4.75% Floor) ^(d)		EUR	1,000,000				1,171,213
Birch Grove CLO, Series 2021-3A, Class ER, 9.48% (3 mo. Term SOFR + 5.15%), 01/19/2038, (5.15% Floor) ^(d)			1,000,000				989,968
Carlyle Global Market Strategies, Series 2021-1A, Class DR, 11.62% (3 mo. Term SOFR + 7.30%), 01/15/2040, (7.30% Floor) ^(d)			1,000,000				1,030,028
CBAM Ltd., Series 2019-9A, Class ER, 11.37% (3 mo. Term SOFR + 7.05%), 07/15/2037, (7.05% Floor) ^(d)			1,300,000				1,315,792
Dryden CLO, Series 2017-27X, Class ER, 7.89% (3 mo. EURIBOR + 5.86%), 04/15/2033, (5.86% Floor)		EUR	500,000				585,765
Elmwood CLO Ltd., Series 2019-3A, Class DRR, 7.43% (3 mo. Term SOFR + 3.10%), 07/18/2037, (3.10% Floor) ^(d)			1,750,000				1,759,597
Fortress Credit BSL Ltd.
Series 2020-1A, Class E, 12.52% (3 mo. Term SOFR + 8.19%), 10/20/2033, (7.93% Floor) ^(d)			1,000,000				1,006,330
Series 2022-1A, Class E, 12.47% (3 mo. Term SOFR + 8.15%), 10/23/2034, (8.15% Floor) ^(d)			500,000				495,062
Series 2022-2A, Class DR, 9.08% (3 mo. Term SOFR + 4.75%), 10/18/2033, (4.75% Floor) ^(d)			1,000,000				999,407
Gallatin CLO Ltd.
Series 2023-1A, Class D, 9.73% (3 mo. Term SOFR + 5.41%), 10/14/2035, (5.41% Floor) ^(d)			2,000,000				2,008,228
Series 2024-1A, Class D1, 8.33% (3 mo. Term SOFR + 4.00%), 10/20/2037, (4.00% Floor) ^(d)			1,000,000				1,007,926
Generate CLO Ltd., Series 2A, Class ER2, 11.68% (3 mo. Term SOFR + 7.35%), 10/22/2037, (7.35% Floor) ^(d)			1,200,000				1,195,949
Halsey Point CLO Ltd., Series 2024-8A, Class E, 11.15% (3 mo. Term SOFR + 6.84%), 01/30/2038, (6.84% Floor) ^(d)			1,000,000				1,022,124
Harvest CLO, Series 26A, Class E, 8.15% (3 mo. EURIBOR + 6.12%), 01/15/2034, (6.12% Floor) ^(d)		EUR	500,000				590,529
ICG US CLO Ltd.
Series 2020-1A, Class DR, 8.19% (3 mo. Term SOFR + 3.86%), 01/20/2035, (3.60% Floor) ^(d)			1,000,000				1,004,282
Series 2020-1A, Class ER, 12.04% (3 mo. Term SOFR + 7.71%), 01/20/2035, (7.45% Floor) ^(d)			1,000,000				985,223
Marble Point CLO Ltd., Series 2021-4A, Class E, 11.88% (3 mo. Term SOFR + 7.55%), 01/22/2035, (7.29% Floor) ^(d)			1,750,000				1,757,501
Monroe Capital MML CLO Ltd., Series 2022-1A, Class E, 12.52% (3 mo. Term SOFR + 8.32%), 02/24/2034, (8.32% Floor) ^(d)			1,000,000				997,722
Mountain View CLO Ltd.
Series 2019-2A, Class DR, 8.92% (3 mo. Term SOFR + 4.60%), 07/15/2037, (4.60% Floor) ^(d)			1,000,000				1,011,027
Series 2023-1A, Class C, 8.17% (3 mo. Term SOFR + 3.85%), 09/14/2036, (3.85% Floor) ^(d)			300,000				300,015
Series 2024-1A, Class E, 11.91% (3 mo. Term SOFR + 7.59%), 10/16/2037, (7.59% Floor) ^(d)			1,000,000				1,027,217
Neuberger Berman CLO Ltd., Series 2019-31A, Class ER2, 9.33% (3 mo. Term SOFR + 5.00%), 01/20/2039, (5.00% Floor) ^(d)			2,000,000				2,005,102
Oak Hill European Credit Partners
Series 2016-5A, Class ER, 8.39% (3 mo. EURIBOR + 6.37%), 01/21/2035, (6.37% Floor) ^(d)		EUR	1,750,000				2,079,534
Series 2016-5A, Class FR, 10.89% (3 mo. EURIBOR + 8.87%), 01/21/2035, (8.87% Floor) ^(d)		EUR	1,000,000				1,176,716
Octagon Investment Partners Ltd.
Series 2016-1A, Class ERR, 11.82% (3 mo. Term SOFR + 7.50%), 04/24/2037, (7.50% Floor) ^(d)			1,875,000				1,883,597
Series 2017-1A, Class ER3, 11.59% (3 mo. Term SOFR + 7.27%), 10/31/2037, (7.27% Floor) ^(d)			1,000,000				1,024,008
Palmer Square European CLO
Series 2022-1A, Class E, 8.38% (3 mo. EURIBOR + 6.36%), 01/21/2035, (6.36% Floor) ^(d)		EUR	1,200,000				1,425,569
Series 2022-1A, Class F, 10.87% (3 mo. EURIBOR + 8.85%), 01/21/2035, (8.85% Floor) ^(d)		EUR	1,250,000				1,469,522
Penta CLO, Series 2021-10X, Class E, 8.26% (3 mo. EURIBOR + 6.23%), 11/20/2034, (6.23% Floor)		EUR	500,000				595,957
Rockford Tower CLO Ltd.
Series 2021-1A, Class E, 7.98% (3 mo. EURIBOR + 5.96%), 04/20/2034, (5.96% Floor) ^(d)		EUR	500,000				588,765
Series 2022-2A, Class ER, 12.45% (3 mo. Term SOFR + 8.12%), 10/20/2035, (8.12% Floor) ^(d)			750,000				744,470
RR Ltd., Series 2022-24A, Class DR2, 9.82% (3 mo. Term SOFR + 5.50%), 01/15/2037, (5.50% Floor) ^(d)			1,000,000				1,006,444
Symphony CLO Ltd., Series 2012-9A, Class ER2, 11.53% (3 mo. Term SOFR + 7.21%), 07/16/2032, (0.00% Floor) ^(d)			438,000				390,098
TCW CLO Ltd.
Series 2019-2A, Class ER2, 10.58% (3 mo. Term SOFR + 6.25%), 01/20/2038, (6.25% Floor) ^(d)			1,250,000				1,247,521
Series 2021-1A, Class ER1, 11.08% (3 mo. Term SOFR + 6.75%), 01/20/2038, (6.75% Floor) ^(d)			1,000,000				1,006,980
THL Credit Wind River CLO Ltd., Series 2020-1A, Class ER, 11.75% (3 mo. Term SOFR + 7.42%), 07/20/2037, (7.42% Floor) ^(d)			1,000,000				1,011,271
Toro European CLO, Series 3X, Class ERR, 8.33% (3 mo. EURIBOR + 6.30%), 07/15/2034, (6.30% Floor)		EUR	1,500,000				1,756,529
Trimaran Cavu Ltd., Series 2021-3A, Class E, 11.96% (3 mo. Term SOFR + 7.63%), 01/18/2035, (7.37% Floor) ^(d)			900,000				902,618
Trinitas CLO Ltd.
Series 2021-18A, Class D, 8.19% (3 mo. Term SOFR + 3.86%), 01/20/2035, (3.60% Floor) ^(d)			2,000,000				1,982,726
Series 2022-21A, Class ER, 9.83% (3 mo. Term SOFR + 5.50%), 04/20/2038 ^(d)			1,000,000				1,001,005
Total Collateralized Loan Obligations							51,554,397

Asset-Backed Securities - 6.4%
Financials - 6.4%
Adams Outdoor Advertising LP, Series 2023-1, Class C, 11.71%, 07/15/2053 ^(d)			2,000,000				2,134,374
Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.74%, 08/15/2041 ^(d)			21,775				21,568
GAIA Aviation Ltd., Series 2019-1, Class C, 7.00%, 12/15/2044 ^(d)(g)			2,226,188				1,933,667
Helios Issuer LLC, Series 2020-1A, Class B, 5.54%, 02/01/2055 ^(d)			954,718				841,595
Horizon Aircraft Finance Ltd.
Series 2018-1, Class A, 4.46%, 12/15/2038 ^(d)			356,757				352,191
Series 2019-2, Class A, 3.43%, 11/15/2039 ^(d)			988,257				947,244
Lunar Aircraft Ltd., Series 2020-1A, Class C, 6.41%, 02/15/2045 ^(d)			55,889				55,162
METAL Ltd.
Series 2017-1, Class A, 4.58%, 10/15/2042 ^(d)			1,279,991				863,994
Series 2017-1, Class B, 6.50%, 10/15/2042 ^(d)			284,797				101,103
Mosaic Solar Loan Trust, Series 2024-2A, Class C, 8.50%, 04/22/2052 ^(d)			1,500,000				1,231,149
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A, 3.97%, 06/15/2044 ^(d)			380,985				376,756
PMCIT
Series 2024-1, 10.05%, 10/16/2034 ^(b)(d)			513,000				510,999
Series 2024-1, 14.64%, 10/16/2034 ^(b)(d)			685,000				687,329
Series 2024-1, 7.15%, 10/16/2034 ^(b)(d)			491,000				492,866
Sunnova Hestia II Issuer LLC, Series 2024-GRID1, Class 2A, 9.50%, 07/20/2051 ^(d)			912,135				866,188
Thunderbolt Aircraft Lease, Series 2018-A, Class B, 7.68%, 09/15/2038 ^(d)(g)			249,515				246,122
Uniti Group, Inc., Series 2025-1A, Class C, 9.02%, 04/20/2055 ^(d)			2,000,000				2,080,386
VistaJet Pass Through Trust, 6.25%, 02/15/2029 ^(d)			675,000				655,594
VSTJET, Series 2020-1B, 10.91%, 01/15/2029 ^(b)			1,462,641				1,464,250
WAVE LLC, Series 2019-1, Class C, 6.41%, 09/15/2044 ^(d)			2,665,304				2,248,717
Zayo Group LLC, Series 2025-1A, Class C, 8.66%, 03/20/2055 ^(d)			2,500,000				2,591,708
Total Asset-Backed Securities							20,702,962

Commercial Mortgage-Backed Securities - 4.9%
ACREC LLC, Series 2023-FL2, Class E, 10.18% (1 mo. Term SOFR + 6.03%), 02/19/2038, (6.03% Floor) ^(d)			107,000				106,948
Arbor Realty Collateralized Loan Obligation Ltd., Series 2025-BTR1, Class D, 8.58% (1 mo. Term SOFR + 4.44%), 01/20/2041, (4.44% Floor) ^(d)			905,000				916,278
AREIT Trust, Series 2023-CRE8, Class D, 9.51% (1 mo. Term SOFR + 5.37%), 08/17/2041, (5.37% Floor) ^(d)			109,000				108,540
Banc of America Commercial Mortgage Trust, Series 2015-UBS7, Class XFG, 1.25%, 09/15/2048 ^(d)(f)(h)			10,000,000				1,070
BBCMS Mortgage Trust, Series 2021-AGW, Class D, 6.76% (1 mo. Term SOFR + 2.61%), 06/15/2036, (2.50% Floor) ^(d)			877,000				844,967
Benchmark Mortgage Trust, Series 2024-V5, Class D, 4.00%, 01/10/2057 ^(d)			36,000				32,513
BSPRT, Series 2024-FL11, Class E, 8.84% (1 mo. Term SOFR + 4.69%), 07/15/2039, (4.69% Floor) ^(d)			278,000				274,951
BWAY Mortgage Trust, Series 2022-26BW, Class E, 5.03%, 02/10/2044 ^(d)(f)			395,000				280,533
BX Trust
Series 2019-IMC, Class G, 7.80% (1 mo. Term SOFR + 3.65%), 04/15/2034, (3.60% Floor) ^(d)			1,131,000				1,092,388
Series 2025-OMG, Class F, 7.75% (1 mo. Term SOFR + 3.60%), 10/15/2027, (3.60% Floor) ^(d)			251,000				251,000
Caister Finance DAC
Series 1A, Class D, 7.88% (SONIA + 3.90%), 08/17/2035, (0.00% Floor) ^(d)		GBP	481,000				647,479
Series 1A, Class E, 9.73% (SONIA + 5.75%), 08/17/2035, (0.00% Floor) ^(d)		GBP	993,000				1,329,809
CD Mortgage Trust, Series 2017-CD5, Class D, 3.35%, 08/15/2050 ^(d)			489,000				434,676
COMM Mortgage Trust, Series 2016-DC2, Class XF, 2.09%, 02/10/2049 ^(d)(f)(h)			13,087,848				91,419
CSAIL Commercial Mortgage Trust, Series 2017-CX9, Class D, 4.17%, 09/15/2050 ^(d)(f)			190,000				139,342
DBGS Mortgage Trust, Series 2021-W52, Class F, 8.42% (1 mo. Term SOFR + 4.26%), 10/15/2036, (4.15% Floor) ^(d)			1,000,000				839,730
Extended Stay America Trust
Series 2025-ESH, Class E, 7.50% (1 mo. Term SOFR + 3.35%), 10/15/2042, (3.35% Floor) ^(d)			195,000				195,166
Series 2025-ESH, Class F, 8.25% (1 mo. Term SOFR + 4.10%), 10/15/2042, (4.10% Floor) ^(d)			145,000				145,123
FS RIALTO, Series 2024-FL9, Class D, 8.08% (1 mo. Term SOFR + 3.94%), 10/19/2039, (3.94% Floor) ^(d)			187,000				186,832
HAVN Trust, Series 2025-MOB, Class E, 9.35% (1 mo. Term SOFR + 5.05%), 10/15/2027, (5.05% Floor) ^(d)			651,000				651,448
Hilton USA Trust
Series 2016-SFP, Class C, 4.12%, 11/05/2035 ^(b)(d)			105,000				15,183
Series 2016-SFP, Class D, 4.93%, 11/05/2035 ^(b)(d)			584,000				27,691
Life Mortgage Trust, Series 2021-BMR, Class F, 6.61% (1 mo. Term SOFR + 2.46%), 03/15/2038, (2.35% Floor) ^(d)			89,600				89,023
MF1 LLC, Series 2022-FL10, Class D, 9.86% (1 mo. Term SOFR + 5.73%), 09/17/2037, (5.73% Floor) ^(d)			232,000				232,417
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class F, 10.09% (1 mo. Term SOFR + 5.94%), 03/15/2035, (5.94% Floor) ^(d)			493,500				493,437
ONE Mortgage Trust, Series 2021-PARK, Class D, 5.76% (1 mo. Term SOFR + 1.61%), 03/15/2036, (1.50% Floor) ^(d)			645,000				613,312
PRKCM Trust, Series 2025-PRM6, Class F, 7.29%, 07/05/2033 ^(d)(f)			222,000				222,065
ROCK Trust, Series 2024-CNTR, Class E, 8.82%, 11/13/2041 ^(d)			1,064,000				1,113,348
Stellar Management, Series 2025-IP, Class F, 7.97%, 06/10/2042 ^(d)(f)			824,000				843,901
TRTX Issuer Ltd, Series 2021-FL4, Class C, 6.66% (1 mo. Term SOFR + 2.51%), 03/15/2038, (2.40% Floor) ^(d)			160,000				159,730
UK Logistics
Series 2024-1A, Class D, 7.99% (SONIA + 4.00%), 05/17/2034, (4.00% Floor) ^(d)		GBP	102,000				137,728
Series 2024-1A, Class E, 8.99% (SONIA + 5.00%), 05/17/2034, (5.00% Floor) ^(d)		GBP	200,000				270,527
Series 2025-1A, Class E, 9.49% (SONIA + 5.50%), 05/17/2035, (0.00% Floor) ^(d)		GBP	330,202				445,796
VMC Finance LLC
Series 2021-FL4, Class C, 6.50% (1 mo. Term SOFR + 2.36%), 06/16/2036, (2.36% Floor) ^(d)			901,000				873,756
Series 2021-FL4, Class D, 7.75% (1 mo. Term SOFR + 3.61%), 06/16/2036, (3.06% Floor) ^(d)			147,000				137,968
Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class F, 4.25%, 07/15/2057 ^(d)			874,000				633,460
WHARF Trust, Series 2025-DC, Class E, 7.98%, 07/15/2040 ^(d)(f)			867,000				898,398
Total Commercial Mortgage-Backed Securities							15,777,952

Residential Mortgage-Backed Securities - 4.0%
ACRA Trust
Series 2024-NQM1, Class B1, 8.18%, 10/25/2064 ^(d)(f)			110,000				112,268
Series 2024-NQM1, Class M1B, 7.19%, 10/25/2064 ^(d)(f)			200,000				202,717
Angel Oak Mortgage Trust LLC, Series 2024-12, Class M1A, 6.49%, 10/25/2069 ^(d)(f)			125,000				125,952
Bellemeade Re Ltd., Series 2024-1, Class M1C, 8.31% (30 day avg SOFR US + 3.95%), 08/25/2034, (3.90% Floor) ^(d)			161,000				167,168
BRAVO Residential Funding Trust
Series 2023-NQM5, Class M1, 7.31%, 06/25/2063 ^(d)(f)			183,000				184,271
Series 2024-NQM1, Class B1, 8.04%, 12/01/2063 ^(d)			128,000				130,118
CHNGE Mortgage Trust, Series 2023-4, Class B1, 8.41%, 09/25/2058 ^(d)(f)			891,000				897,586
COLT Funding LLC, Series 2024-INV3, Class B1, 7.71%, 09/25/2069 ^(d)(f)			363,000				376,215
Credit Suisse Mortgage Capital Certificates, Series 2021-NQM8, Class B2, 4.26%, 10/25/2066 ^(d)(f)			159,000				137,503
Deephaven Residential Mortgage Trust, Series 2022-2, Class B1, 4.30%, 03/25/2067 ^(d)(f)			229,000				189,661
EASY Trust, Series 2025-RTL1, Class A2, 8.30%, 05/25/2040 ^(d)(g)			741,000				748,842
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class M, 4.50%, 02/25/2059 ^(d)(f)			574,000				545,996
GCAT Trust, Series 2022-NQM1, Class B1, 3.93%, 02/25/2067 ^(d)(f)			476,000				373,271
Imperial Fund Mortgage Trust, Series 2022-NQM3, Class M1, 4.41%, 05/25/2067 ^(d)(f)			332,000				286,830
JP Morgan Mortgage Trust
Series 2022-DSC1, Class B2, 4.93%, 01/25/2063 ^(d)(f)			433,000				361,606
Series 2023-DSC1, Class B1, 4.76%, 07/25/2063 ^(d)(f)			292,000				256,438
Series 2023-DSC1, Class B2, 4.76%, 07/25/2063 ^(d)(f)			280,000				225,453
Series 2024-CES1, Class B1, 7.64%, 06/25/2054 ^(d)(f)			100,000				100,242
Series 2025-CES5, Class B1, 6.69%, 02/25/2056 ^(d)(f)			195,000				194,999
Knock Issuer Trust, Series 2025-1, Class A1, 7.12%, 02/25/2030 ^(d)			224,000				227,482
Mello Mortgage Capital Acceptance, Series 2022-INV1, Class B4, 3.32%, 03/25/2052 ^(d)(f)			209,425				166,652
MFA Trust, Series 2022-NQM1, Class B1, 4.27%, 12/25/2066 ^(d)(f)			251,000				210,609
Morgan Stanley Residential Mortgage Loan Trust, Series 2023-NQM1, Class B1, 7.40%, 09/25/2068 ^(d)(f)			446,000				447,904
New Residential Mortgage LLC, Series 2024-FNT1, Class A, 7.40%, 11/25/2031 ^(d)(g)			477,473				492,940
New Residential Mortgage Loan Trust, Series 2024-RTL2, Class M1, 9.43%, 09/25/2039 ^(d)(f)			160,000				161,856
NYMT Loan Trust, Series 2024-BPL2, Class M, 8.41%, 05/25/2039 ^(d)			145,000				146,527
PRKCM Trust
Series 2021-AFC1, Class B1, 3.95%, 08/25/2056 ^(d)(f)			278,000				206,440
Series 2022-AFC2, Class B1, 6.00%, 08/25/2057 ^(d)(f)			204,000				202,699
Series 2023-AFC1, Class M1, 7.42%, 02/25/2058 ^(d)(f)			371,000				371,109
Series 2023-AFC2, Class B1, 8.17%, 06/25/2058 ^(d)(f)			100,000				100,477
Series 2023-AFC4, Class B1, 7.95%, 11/25/2058 ^(d)(f)			293,000				295,997
Series 2024-AFC1, Class B1, 8.06%, 03/25/2059 ^(d)(f)			176,000				178,977
Series 2024-AFC1, Class M1, 6.87%, 03/25/2059 ^(d)(f)			66,000				66,594
Progress Residential Trust, Series 2022-SFR3, Class E2, 5.60%, 04/17/2039 ^(d)			212,000				210,216
RCKT Mortgage Trust
Series 2024-CES1, Class M2, 6.77%, 02/25/2044 ^(d)(f)			100,000				101,169
Series 2024-CES2, Class M2, 6.77%, 04/25/2044 ^(d)(f)			100,000				101,474
Series 2024-CES6, Class B2, 8.23%, 09/25/2044 ^(d)			140,000				141,023
Saluda Grade Mortgage Funding LLC, Series 2024-RTL4, Class A2, 7.50%, 02/25/2030 ^(d)(g)			408,000				406,573
Seasoned Credit Risk Transfer Trust, Series 2022-1, Class M, 4.50%, 11/25/2061 ^(d)(f)			226,000				200,746
Starwood Mortgage Residential Trust
Series 2021-3, Class B1, 3.35%, 06/25/2056 ^(d)(f)			210,000				164,836
Series 2022-SFR3, Class F, 8.65% (1 mo. Term SOFR + 4.50%), 05/17/2039, (4.50% Floor) ^(d)			80,769				81,069
Toorak Mortgage Trust, Series 2024-RRTL1, Class M1, 9.16%, 02/25/2039 ^(d)(f)			71,000				71,636
TVC Mortgage Trust, Series 2024-RRTL1, Class M1, 7.42%, 07/25/2039 ^(d)(g)			295,000				296,525
Verus Securitization Trust
Series 2023-2, Class B1, 7.44%, 03/25/2068 ^(d)(f)			100,000				99,727
Series 2023-6, Class B1, 7.78%, 09/25/2068 ^(d)(f)			158,000				158,638
Series 2023-7, Class B1, 7.89%, 10/25/2068 ^(d)(f)			634,000				637,739
Series 2023-INV2, Class A3, 7.08%, 08/25/2068 ^(d)(g)			113,168				113,979
Series 2023-INV2, Class B1, 8.04%, 08/25/2068 ^(d)(f)			215,000				216,624
Series 2023-INV2, Class M1, 7.35%, 08/25/2068 ^(d)(f)			187,000				188,143
Series 2024-2, Class M1, 6.82%, 02/25/2069 ^(d)(f)			100,000				100,980
Western Mortgage Reference Notes, Series 2021-CL2, Class M4, 9.71% (30 day avg SOFR US + 5.35%), 07/25/2059, (0.00% Floor) ^(d)			732,259				798,922
Total Residential Mortgage-Backed Securities							12,983,418

High Yield - 0.9%
Financial Services - 0.6%
Mexico Remittances Funding Fiduciary Estate Management Sarl, 12.50%, 10/15/2031 ^(d)			1,850,000				1,887,203

Household Durables - 0.2%
Adams Homes, Inc., 9.25%, 10/15/2028 ^(d)			572,000				598,861

Mortgage Real Estate Investment Trusts (REITs) - 0.1%
Blackstone Mortgage Trust, Inc., 7.75%, 12/01/2029 ^(d)			462,000				487,839
Total High Yield							2,973,903
TOTAL STRUCTURED CREDIT (Cost $101,756,602)							103,992,632

PRIVATE CREDIT - 26.9%			Par				Value
Senior Loans - 22.5%
Aerospace & Defense - 1.8%
Galileo Parent, Inc., Senior Secured First Lien Term Loan, 10.05% (3 mo. SOFR US + 5.75%), 05/03/2030, (1.00% Floor) ^(b)			2,329,232				2,317,586
Galileo Parent, Inc., Senior Secured First Lien Revolver
10.34% (1 mo. SOFR US + 5.75%), 05/03/2029, (1.00% Floor) ^(b)(c)			3,072				2,007
9.75% (3 mo. SOFR US + 5.75%), 05/03/2029, (1.00% Floor) ^(b)(c)			366,928				239,725
GASL Bermuda, Tranche B1 Revolver, 11.11%, 12/15/2028 ^(b)(c)			3,100,000				2,524,982
WP CPP Holdings, Senior Secured First Lien Term Loan
7.30% (3 mo. SOFR US + 3.13%), 11/28/2029, (0.00% Floor) ^(b)			842,819				843,241
7.30% (3 mo. SOFR US + 3.13%), 11/28/2029, (0.00% Floor) ^(b)			53,634				53,661
WP CPP Holdings, First Lien Revolver, 11.34%, 11/28/2029 ^(b)(c)			90,000				0
							5,981,202

Biotechnology - 0.7%
ADC Therapeutics, Inc., Senior Secured First Lien Term Loan, 11.80% (3 mo. SOFR US + 7.50%), 08/15/2029, (1.00% Floor) ^(b)			1,135,543				1,118,623
Mesoblast, Inc., First Lien Term Loan, 9.75% (FCPR + 4.95%), 11/19/2026 ^(b)			1,095,159				1,117,939
							2,236,562

Building Products - 0.6%
Geotechnical Merger Sub, Senior Secured First Lien Term Loan, 8.60% (6 mo. SOFR US + 4.50%), 10/15/2031, (0.00% Floor) ^(b)			1,682,000				1,670,730
Geotechnical Merger Sub, Delay Draw Term Loan, 9.04%, 08/27/2031 ^(b)(c)			623,000				303,225
Geotechnical Merger Sub, Revolver, 9.07%, 08/27/2031 ^(b)(c)			234,000				54,234
							2,028,189

Capital Markets - 0.4%
Inspira, First Lien Revolver, 10.35%, 05/10/2030 ^(b)(c)			103,000				0
Inspira, First Lien Delay Draw Term Loan, 10.35%, 06/03/2030 ^(b)(c)			172,000				0
Minotaur Acquisition, Senior Secured First Lien Tranche B Term Loan, 9.16% (1 mo. SOFR US + 5.00%), 06/03/2030, (1.00% Floor) ^(b)			1,021,685				1,017,802
MTC Holdings, Senior Secured First Lien Delay Draw Term Loan, 9.16% (1 mo. SOFR US + 5.00%), 06/03/2030, (1.00% Floor) ^(b)			166,350				165,718
							1,183,520

Commercial Services & Supplies - 0.8%
Kings Buyer LLC, Senior Secured First Lien Revolver, 11.50% (Prime Rate + 4.25%), 10/29/2027, (1.00% Floor) ^(b)(c)			472,406				135,501
NFM & J LP, Senior Secured First Lien Term Loan, 10.18% (3 mo. SOFR US + 5.75%), 11/30/2027, (1.00% Floor) ^(b)			486,914				483,457
NFM & J LP, Senior Secured First Lien Delay Draw Term Loan, 10.15% (3 mo. SOFR US + 5.75%), 11/30/2027, (1.00% Floor) ^(b)(c)			275,530				30,307
NFM & J LP, Senior Secured First Lien Revolver
10.94% (1 mo. LIBOR US + 5.75%), 11/30/2027, (1.00% Floor) ^(b)(c)(i)			21,100				3,667
12.00% (Prime Rate + 4.75%), 11/30/2027, (1.00% Floor) ^(b)(c)			89,263				15,512
USIC Holdings Inc., Senior Secured First Lien Term Loan, 9.70% (3 mo. SOFR US + 5.50%), 09/10/2031, (0.75% Floor) ^(b)			1,423,245				1,423,529
USIC Holdings Inc., First Lien Tranche A1 Term Loan, 7.17%, 09/10/2031 ^(b)			523,504				523,609
USIC Holdings Inc., Senior Secured First Lien Revolver
9.42% (3 mo. SOFR US + 5.25%), 09/10/2031, (0.00% Floor) ^(b)(c)			59,672				20,800
9.45% (3 mo. SOFR US + 5.25%), 09/10/2031, (0.00% Floor) ^(b)(c)			110,393				38,480
9.48% (3 mo. SOFR US + 5.25%), 09/10/2031, (0.00% Floor) ^(b)(c)			11,934				4,160
USIC Holdings Inc., Senior Secured First Lien Delay Draw Term Loan
9.70% (3 mo. SOFR US + 5.50%), 09/10/2031, (0.75% Floor) ^(b)(c)			63,070				28,628
9.83% (3 mo. SOFR US + 5.50%), 09/10/2031, (0.75% Floor) ^(b)(c)			21,714				9,856
							2,717,506

Communications Equipment - 0.5%
Sorenson Communications, Senior Secured First Lien Term Loan, 10.07% (1 mo. SOFR US + 5.75%), 04/19/2029, (0.00% Floor) ^(b)			1,649,275				1,622,887
Sorenson Communications, Revolver, 11.08%, 04/19/2029 ^(b)(c)			198,000				0
							1,622,887

Consumer Finance - 1.4%
CPS Mezzanine, Tranche B Revolver, 10.73%, 07/15/2027 ^(b)(c)			3,750,000				2,942,344
Maya SAS, 6.88%, 04/15/2031		EUR	255,000				319,074
Mehilainen Yhtiot Oy, 5.13%, 06/30/2032 ^(e)		EUR	425,000				510,055
Telecom Argentina, Term Loan, 9.32%, 02/21/2029 ^(b)			473,524				473,524
Vmed O2 UK Financing I PLC, 5.63%, 04/15/2032 ^(e)		EUR	235,000				283,887
							4,528,884

Consumer Staples Distribution & Retail - 0.6%
Blazing Star Parent, Senior Secured First Lien Term Loan, 11.20% (3 mo. SOFR US + 7.00%), 08/28/2032, (0.00% Floor) ^(b)			1,868,000				1,822,047

Containers & Packaging - 0.7%
ASP-r-pac Acquisition Company LLC, First Lien Term Loan, 10.54%, 12/29/2027 ^(b)			1,667,766				1,644,251
ASP-r-pac Acquisition Company LLC, Senior Secured First Lien Term Loan, 10.31% (3 mo. SOFR US + 6.00%), 12/29/2027, (0.75% Floor) ^(b)			345,809				340,967
ASP-r-pac Acquisition Company LLC, First Lien Revolver, 9.49%, 12/29/2027 ^(b)(c)			205,745				150,105
							2,135,323

Diversified Consumer Services - 1.6%
AVSC Holding, Senior Secured First Lien Term Loan, 9.16% (1 mo. SOFR US + 5.00%), 12/05/2031, (0.75% Floor) ^(b)			3,831,745				3,760,858
AVSC Holding, Senior Secured First Lien Revolver, 9.53% (3 mo. SOFR US + 5.00%), 12/05/2029, (0.00% Floor) ^(b)(c)			412,000				0
Legends Hospitality Holding Co., First Lien Term Loan, 6.96%, 08/22/2031 ^(b)			1,314,581				1,292,233
Legends Hospitality Holding Co., Senior Secured First Lien Delay Draw Term Loan
9.17% (1 mo. SOFR US + 5.00%), 08/22/2031, (0.00% Floor) ^(b)(c)			26,926				16,395
9.19% (3 mo. SOFR US + 5.00%), 08/22/2031, (0.00% Floor) ^(b)(c)			48,956				29,808
Legends Hospitality Holding Co., Senior Secured First Lien Revolver, 9.16% (1 mo. SOFR US + 5.00%), 08/22/2030, (0.00% Floor) ^(b)(c)			152,000				14,956
							5,114,250

Electrical Equipment - 0.3%
Inventus Power, Inc.
0.00%, 01/15/2026 ^(b)(c)(j)			94,000				21,732
12.19%, 01/15/2026 ^(b)			810,348				802,811
							824,543

Financial Services - 0.9%
Hertz Vehicle Financing III, Tranche B, 9.28%, 06/28/2028 ^(b)			3,000,000				3,000,000

Food Products - 0.3%
Protein For Pets Opco, Term Loan, 9.57% (1 mo. SOFR U.S. + 5.25%), 03/22/2030 ^(b)			981,575				961,257
Protein For Pets Opco, Revolver, 10.57%, 03/22/2030 ^(b)(c)			103,000				27,234
							988,491

Health Care Equipment & Supplies - 1.0%
Spruce Bidco II, Senior Secured First Lien Term Loan
7.68% (TCOR (3 months) + 5.00%), 01/30/2032, (0.75% Floor) ^(b)		CAD	492,670				348,979
9.13% (6 mo. SOFR US + 5.00%), 01/30/2032, (0.75% Floor) ^(b)			2,717,190				2,678,606
9.37% (SOFR + 5.25%), 01/30/2032, (0.75% Floor) ^(b)		JPY	52,678,643				351,155
Spruce Bidco II, First Lien Revolver, 9.31%, 01/30/2032 ^(b)(c)			614,000				0
							3,378,740

Health Care Providers & Services - 1.5%
ACESO HOLDING, First Lien Term Loan, 8.13%, 09/27/2031 ^(b)		EUR	1,529,000				1,762,277
ACESO HOLDING, First Lien Delay Draw Term Loan, 9.10%, 09/27/2031 ^(b)		EUR	382,000				440,281
LSL Holdco LLC, Term Loan, 10.79%, 01/31/2028 ^(b)			2,313,789				2,226,097
LSL Holdco LLC, 10.42%, 01/31/2028 ^(b)			269,450				259,237
LSL Holdco RC, Senior Secured First Lien Revolver, 10.36% (1 mo. SOFR US + 6.00%), 01/31/2028, (0.75% Floor) ^(b)(c)			266,412				174,258
Petvet Care Centers LLC, First Lien Delay Draw Term Loan, 11.32%, 11/15/2030 ^(b)(c)			307,000				0
Petvet Care Centers LLC, First Lien Revolver, 11.32%, 11/15/2029 ^(b)(c)			307,000				0
							4,862,150

Health Care Technology - 0.8%
Establishment Labs Holdings, Inc., First Lien Tranche A Term Loan, 9.00%, 04/21/2027 ^(b)			1,247,716				1,254,703
Establishment Labs Holdings, Inc., First Lien Tranche C Delay Draw Term Loan, 9.00%, 04/21/2027 ^(b)			184,290				187,976
Establishment Labs Holdings, Inc., First Lien Tranche D Delay Draw Term Loan, 9.00%, 04/21/2027 ^(b)			184,290				187,976
Establishment Labs Holdings, Inc., First Lien Tranche B Delay Draw Term Loan, 9.00%, 04/21/2027 ^(b)			199,823				200,942
Next Holdco LLC, First Lien Revolver, 11.32%, 11/08/2029 ^(b)(c)			80,000				0
Next Holdco LLC, First Lien Delay Draw Term Loan, 11.32%, 11/08/2030 ^(b)(c)			213,000				0
NextGen Healthcare, Inc., Senior Secured First Lien Term Loan, 9.48% (3 mo. SOFR US + 5.25%), 11/12/2030, (0.75% Floor) ^(b)			817,550				809,946
							2,641,543

Hotels, Restaurants & Leisure - 0.6%
Grove Hotel Parcel Owner LLC, Term Loan, 12.46%, 06/21/2028 ^(b)			1,701,156				1,674,108
Grove Hotel Parcel Owner LLC, Delay Draw Term Loan, 12.42%, 06/21/2028 ^(b)			350,754				345,177
Grove Hotel Parcel Owner LLC, Revolver, 12.65%, 06/21/2028 ^(b)(c)			175,377				0
							2,019,285

Insurance - 1.1%
Integrity Marketing Acquisition LLC, Senior Secured First Lien Term Loan
9.20% (3 mo. SOFR US + 5.00%), 08/25/2028, (0.75% Floor) ^(b)			332,619				332,187
9.20% (3 mo. SOFR US + 5.00%), 08/25/2028, (0.75% Floor) ^(b)			2,104,900				2,102,163
Integrity Marketing Acquisition LLC, First Lien Delay Draw Term Loan, 10.28%, 08/28/2028 ^(b)(c)			577,935				0
Integrity Marketing Acquisition LLC, First Lien Revolver, 10.28%, 08/28/2028 ^(b)(c)			234,995				0
THG Acquisition, Senior Secured First Lien Term Loan, 8.91% (1 mo. SOFR US + 4.75%), 10/31/2031, (0.75% Floor) ^(b)			1,064,650				1,062,308
THG Acquisition, Senior Secured First Lien Delay Draw Term Loan, 8.91% (1 mo. SOFR US + 4.75%), 10/31/2031, (0.75% Floor) ^(b)(c)			238,884				38,668
THG Acquisition, Senior Secured First Lien Revolver
8.91% (1 mo. SOFR US + 4.75%), 10/31/2031, (0.75% Floor) ^(b)(c)			117,598				8,718
9.07% (Fixed Rate), 10/31/2031, (0.75% Floor) ^(b)(c)			1,402				104
							3,544,148

Life Sciences Tools & Services - 1.5%
Creek Parent, Senior Secured First Lien Term Loan, 9.14% (1 mo. SOFR US + 5.00%), 12/18/2031, (0.00% Floor) ^(b)			3,270,565				3,208,751
Creek Parent, Senior Secured First Lien Revolver, 9.82% (Fixed Rate), 12/18/2031, (0.75% Floor) ^(b)(c)			471,000				0
Europa Biosite, Tranche B1 Term Loan, 2.16%, 09/22/2032 ^(b)		SEK	7,540,000				784,883
Europa Biosite, Tranche B2 Term Loan, 9.22%, 09/22/2032 ^(b)		GBP	584,527				770,408
Europa Biosite, Tranche 3 Delay Draw Term Loan, 2.16%, 09/22/2032 ^(b)(c)		SEK	9,158,000				0
							4,764,042

Machinery - 0.6%
ProFrac Holdings II LLC, 11.23% (3 mo. Term SOFR + 7.25%), 01/23/2029 ^(b)(d)			1,083,000				1,071,520
Truck-Lite Company, Senior Secured First Lien Term Loan, 9.89% (1 mo. SOFR US + 5.75%), 02/13/2032, (0.75% Floor) ^(b)			1,027,121				1,017,055
Truck-Lite Company, Senior Secured First Lien Revolver, 10.07% (Fixed Rate), 02/13/2031, (0.00% Floor) ^(b)(c)			105,000				0
Truck-Lite Company, First Lien Tranche A Delay Draw Term Loan, 10.07%, 02/13/2032 ^(b)(c)			37,800				0
							2,088,575

Pharmaceuticals - 0.4%
Bioxcel Therapeutics, Inc., First Lien Tranche A Term Loan, 8.00%, 04/19/2027 ^(b)			992,667				867,988
Bioxcel Therapeutics, Inc., Tranche A2 Term Loan, 3.00% (3 mo. SOFR U.S. + 7.50%), 04/19/2027 ^(b)			411,467				359,787
Bioxcel Therapeutics, Inc., Tranche D Delay Draw Term Loan, 0.00%, 04/19/2027 ^(b)(c)(j)			625,975				0
Bioxcel Therapeutics, Inc., First Lien Tranche C Delay Draw Term Loan, 12.81%, 04/19/2027 ^(b)(c)			375,585				0
							1,227,775

Professional Services - 0.3%
Kite Midco II, Tranche B1 Term Loan, 9.43%, 09/20/2031 ^(b)			877,000				864,810
Kite Midco II, Delay Draw Term Loan, 9.43%, 09/20/2031 ^(b)(c)			216,000				0
							864,810

Real Estate Management & Development - 1.2%
CVS Lane, Delay Draw Term Loan, 11.60%, 07/19/2026 ^(b)(c)		AUD	7,744,779				2,826,472
Lightbox Intermediate, Term Loan, 9.81%, 01/14/2030 ^(b)			1,191,015				1,178,986
Lightbox Intermediate, Revolver, 9.81%, 01/14/2030 ^(b)(c)			77,000				0
							4,005,458

Software - 2.9%
CentralSquare Technologies, Senior Secured First Lien Revolver, 11.32% (Fixed Rate), 04/12/2031, (0.00% Floor) ^(b)(c)			66,000				0
Evergreen IX Borrower, Senior Secured First Lien Term Loan
8.75% (3 mo. SOFR US + 4.75%), 09/29/2030, (0.75% Floor) ^(b)			1,126,928				1,126,928
8.75% (3 mo. SOFR US + 4.75%), 09/29/2030, (0.00% Floor) ^(b)			284,631				284,631
Evergreen IX Borrower, First Lien Revolver, 11.39%, 09/29/2029 ^(b)(c)			127,000				0
Finastra USA, Inc., Senior Secured First Lien Term Loan, 11.29% (6 mo. SOFR US + 7.25%), 09/13/2029, (0.00% Floor) ^(b)			403,415				403,415
ICIMS, Inc., Term Loan, 10.67%, 08/18/2028 ^(b)			1,779,695				1,735,737
ICIMS, Inc., Senior Secured First Lien Revolver
10.06% (3 mo. SOFR US + 5.75%), 08/15/2028, (1.00% Floor) ^(b)(c)			74,787				20,423
10.08% (3 mo. SOFR US + 5.75%), 08/15/2028, (1.00% Floor) ^(b)(c)			64,816				17,700
5.75% (3 mo. SOFR US + 5.75%), 08/15/2028, (1.00% Floor) ^(b)(c)			17,949				4,902
Monotype Imaging Holdings, Senior Secured First Lien Delay Draw Term Loan, 9.66% (1 mo. SOFR US + 5.50%), 02/28/2031, (0.00% Floor) ^(b)(c)			116,712				30,009
Monotype Imaging Holdings, First Lien Revolver, 10.84%, 02/28/2031 ^(b)(c)			176,000				0
Monotype Imaging Holdings, Senior Secured First Lien Term Loan, 9.66% (1 mo. SOFR US + 5.50%), 02/28/2031, (0.75% Floor) ^(b)			1,391,388				1,391,109
MRI Software LLC, Senior Secured First Lien Tranche 6 Delay Draw Term Loan, 8.75% (3 mo. SOFR US + 4.75%), 02/10/2027, (1.00% Floor) ^(b)			219,499				218,204
Optimizely North America, Senior Secured First Lien Term Loan
7.15% (1 mo. EURIBOR + 5.25%), 10/30/2031, (0.00% Floor) ^(b)		EUR	551,230				641,349
9.16% (1 mo. SOFR US + 5.00%), 10/30/2031, (0.00% Floor) ^(b)			1,544,240				1,530,187
9.47% (SONIA + 5.50%), 10/30/2031, (0.00% Floor) ^(b)		GBP	184,075				245,310
Optimizely North America, First Lien Revolver, 9.70%, 10/30/2031 ^(b)(c)			231,000				0
Pluralsight Inc, Senior Secured First Lien Tranche B Term Loan
11.83% (3 mo. SOFR US + 7.50%), 08/22/2029, (0.00% Floor) ^(b)			125,373				125,373
11.83%, 08/22/2029 ^(b)			16,296				16,296
Pluralsight Inc, Senior Secured First Lien Term Loan
7.20% (3 mo. SOFR US + 3.00%), 08/22/2029, (0.00% Floor) ^(b)			83,373				83,373
7.20% (3 mo. SOFR US + 3.00%), 08/22/2029, (0.00% Floor) ^(b)			1,296				1,296
Pluralsight Inc, First Lien Revolver, 0.00%, 08/22/2029 ^(b)(c)(j)			24,123				0
Pluralsight Inc, First Lien Delay Draw Term Loan, 0.00%, 08/22/2029 ^(b)(c)(j)			60,308				0
Pluralsight Restructure, Senior Secured First Lien Term Loan
7.20% (3 mo. SOFR US + 3.00%), 08/22/2031, (0.00% Floor) ^(b)			48,126				48,126
7.20% (3 mo. SOFR US + 3.00%), 08/22/2031, (0.00% Floor) ^(b)			748				748
UserZoom Technologies, Inc., 11.78%, 04/05/2029 ^(b)			1,348,000				1,321,714
							9,246,830
Total Senior Loans							72,826,760

Senior Loans (Syndicated) - 2.7%
Commercial Services & Supplies - 0.6%
Kings Buyer LLC, Senior Secured First Lien Term Loan, 9.75% (3 mo. SOFR US + 5.25%), 10/29/2027, (0.00% Floor) ^(b)			2,195,672				2,099,721

Health Care Providers & Services - 0.7%
Petvet Care Centers LLC, Senior Secured First Lien Term Loan, 10.16% (1 mo. SOFR US + 6.00%), 10/24/2030, (0.75% Floor) ^(b)			2,314,770				2,129,357

Interactive Media & Services - 0.5%
Ancestry.com, Inc., Senior Secured First Lien Tranche B Term Loan, 9.66% (1 mo. SOFR US + 5.50%), 12/06/2027, (0.00% Floor) ^(b)			1,612,445				1,612,445

Metals & Mining - 0.2%
IAMGOLD Corp., Second Lien Term Loan, 12.59%, 05/16/2028 ^(b)			731,250				759,037

Software - 0.7%
CentralSquare Technologies, Senior Secured First Lien Term Loan
7.03% (1 mo. SOFR US + 2.88%), 04/12/2031, (0.00% Floor) ^(b)			573,210				572,465
7.03% (1 mo. SOFR US + 2.88%), 04/12/2031, (0.00% Floor) ^(b)			29,736				29,697
ICIMS, Inc., Senior Secured First Lien Term Loan, 10.57% (3 mo. SOFR US + 6.25%), 08/18/2028, (1.00% Floor) ^(b)			253,659				250,615
MRI Software LLC, Senior Secured First Lien Term Loan, 8.75% (3 mo. SOFR US + 4.75%), 02/10/2027, (1.00% Floor) ^(b)			1,405,846				1,397,552
MRI Software LLC, Senior Secured First Lien Revolver, 8.75% (3 mo. SOFR US + 4.75%), 02/10/2027, (1.00% Floor) ^(b)(c)			166,000				16,502
							2,266,831
Total Senior Loans (Syndicated)							8,867,391

Preferred Stock - 1.0%			Shares
Health Care Providers & Services - 0.1%
Petvet Care Centers LLC, (Acquired 11/15/2023, Cost $198,940) ^(b)(k)(l)			203				229,798

Health Care Technology - 0.9%
athenahealth, Inc., (Acquired 2/15/2022, Cost $1,992,289) ^(b)(k)			2,033				2,936,303
Total Preferred Stock							3,166,101

Private Placement Equity - 0.6%
Distributors - 0.1%
RelaDyne, (Acquired 12/23/2021, Cost $187,703) ^(b)(k)(l)			2,000				350,720

Health Care Technology - 0.5%
Ipi Legacy Liquidation Co, ^(b)(l)			754,923				1,506,072

Software - 0.0%^(m)
Pluralsight Inc, ^(b)(l)			41,791				77,731
Total Private Placement Equity							1,934,523

Warrants - 0.1%
Biotechnology - 0.1%
ADC Therapeutics - (Exercise price: $8.30, Expiration: 08/15/2032), (Acquired 8/15/2022, Cost $30,028) ^(b)(k)(l)			4,988				5,836
Mesoblast, Inc.- (Exercise Price: $7.26, Expiration: 11/19/2026), (Acquired 12/20/2021 - 1/10/2024, Cost $106,354) ^(b)(k)(l)			23,222				148,388
Seres Therapeutics, Inc. - (Exercise price: $6.69, Expiration: 04/27/2030), (Acquired 4/27/2023 - 4/22/2025, Cost $14,821) ^(b)(k)(l)			237				2,036
							156,260

Pharmaceuticals - 0.0%^(m)
Bioxcel Therapeutics, Inc. - (Exercise price: $3.07, Expiration: 04/19/2029), (Acquired 3/20/2024, Cost $0) ^(b)(k)(l)			78				111
Bioxcel Therapeutics, Inc. - (Exercise price: $3.65, Expiration: 04/19/2029), (Acquired 4/28/2022 - 8/29/2025, Cost $0) ^(b)(k)(l)			274				389
							500
Total Warrants							156,760

Common Stock - 0.0%
Pharmaceuticals - 0.0%^(m)
Bioxcel Therapeutics, Inc., ^(l)			3,557				9,106
TOTAL PRIVATE CREDIT (Cost $85,263,349)							86,960,641

EMERGING MARKET - 4.4%			Par				Value
High Yield - 4.4%
Building Products - 0.1%
Limak Cimento Sanayi ve Ticaret AS, 9.75%, 07/25/2029			250,000				257,654

Chemicals - 0.1%
Braskem Netherlands Finance BV
7.25%, 02/13/2033			572,400				220,077
8.00%, 10/15/2034			375,300				140,456
8.50% to 01/23/2026 then 5 yr. CMT Rate + 8.22%, 01/23/2081			472,000				77,880
							438,413

Diversified Telecommunication Services - 0.1%
Telecom Argentina, 9.25%, 05/28/2033 ^(d)			260,000				255,878

Food Products - 0.3%
Grupo Nutresa SA, 9.00%, 05/12/2035 ^(d)			907,000				1,030,624

Metals & Mining - 1.5%
CSN Resources SA
8.88%, 12/05/2030			731,000				738,193
5.88%, 04/08/2032			335,000				285,071
Samarco Mineracao SA, 9.50% (or 9.00% PIK), 06/30/2031			2,095,498				2,107,683
Vedanta Resources Ltd, 10.88%, 09/17/2029 ^(d)			1,683,000				1,765,812
							4,896,759

Oil, Gas & Consumable Fuels - 1.8%
Azule Energy Finance PLC, 8.13%, 01/23/2030 ^(d)			3,227,000				3,257,824
Ecopetrol SA, 8.38%, 01/19/2036			1,178,000				1,217,355
Petroleos Mexicanos, 6.75%, 09/21/2047			1,733,000				1,431,338
							5,906,517

Passenger Airlines - 0.3%
Grupo Aeromexico SAB de CV, 8.25%, 11/15/2029 ^(d)			589,500				590,178
Latam Airlines Group SA, 7.88%, 04/15/2030			473,000				492,724
							1,082,902

Real Estate Management & Development - 0.2%
CIFI Holdings Group Company Ltd.
11.58% to 08/24/2027 then 5 yr. CMT Rate + 8.57%, Perpetual ⁽ⁿ⁾			450,000				45,135
6.00%, 02/16/2026 ⁽ⁿ⁾			400,000				40,000
6.45%, 02/21/2026 ⁽ⁿ⁾			200,000				20,752
Country Garden Holdings Company Ltd.
7.25%, 04/08/2026 ⁽ⁿ⁾			600,000				63,804
4.80%, 08/06/2030 ⁽ⁿ⁾			200,000				21,500
RKPF Overseas Ltd.
5.90%, 09/05/2028			441,811				83,943
6.00%, 03/04/2029			441,488				83,634
Shimao Group Holdings Ltd.
5.00% (or 6.00% PIK), 07/21/2031 ^(d)			1,365,829				62,282
2.00% (or 3.00% PIK), 07/21/2032 ^(d)			249,481				8,108
2.00% (or 3.00% PIK), 07/21/2033 ^(d)			374,224				12,162
2.00% (or 3.00% PIK), 01/21/2034 ^(d)			374,224				8,420
							449,740
Total High Yield							14,318,487
TOTAL EMERGING MARKET (Cost $17,534,433)							14,318,487

SHORT-TERM INVESTMENTS - 2.1%
MONEY MARKET FUNDS - 2.1%			Shares				Value
First American Government Obligations Fund - Class X, 4.05% ^(o)			6,767,629				6,767,629
TOTAL MONEY MARKET FUNDS (Cost $6,767,629)							6,767,629

TOTAL INVESTMENTS - 125.6% (Cost $402,395,527)^(p)							405,695,639
Liabilities in Excess of Other Assets - (25.6)%					(0.25591)		(82,652,930)
TOTAL NET ASSETS - 100.0%	0.0%		0.0%			$	323,042,709

Par amount is in USD unless otherwise indicated.
Percentages are stated as a percent of net assets.	–%

CMT - Constant Maturity Treasury

EURIBOR - Euro Interbank Offered Rate

LIBOR - London Interbank Offered Rate

LLC - Limited Liability Company

LP - Limited Partnership

PIK - Payment in Kind

PLC - Public Limited Company

REIT - Real Estate Investment Trust

SOFR - Secured Overnight Financing Rate

SONIA - Sterling Overnight Index Average

AUD - Australian Dollar

CAD - Canadian Dollar

EUR - Euro

GBP - British Pound

JPY - Japanese Yen

SEK - Swedish Krona

(a)		To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(b)		Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $92,491,448 or 28.6% of net assets as of September 30, 2025.
(c)		As of September 30, 2025, the Fund had entered into the following commitments to fund various revolving and delayed draw senior secured and subordinated loans. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and there can be no assurance that such conditions will be satisfied. All values are reflected at par.

Company	Investment Type	Total revolving and delayed draw loan commitments		Less: funded commitments		Total unfunded commitments
ASP-r-pac Acquisition Company LLC	First Lien Revolver	$	205,745	$	152,251	$	53,494
AVSC Holding	First Lien Revolver		412,000		0		412,000
Bioxcel Therapeutics, Inc.	First Lien Tranche C Delay Draw Term Loan		375,585		0		375,585
Bioxcel Therapeutics, Inc.	Tranche D Delay Draw Term Loan		625,975		0		625,975
CentralSquare Technologies	First Lien Revolver		66,000		0		66,000
Clydesdale Acquisition Holdings, Inc.	First Lien Tranche B-DD Delay Draw Term Loan		8,591		258		8,333
CPS Mezzanine	Tranche B Revolver		3,750,000		2,939,699		810,301
Creek Parent	First Lien Revolver		471,000		0		471,000
CVS Lane	Delay Draw Term Loan		7,744,779		4,262,158		3,482,620
Europa Biosite	Tranche 3 Delay Draw Term Loan		9,158,000		0		9,158,000
Evergreen IX Borrower	First Lien Revolver		127,000		0		127,000
Galileo Parent, Inc.	First Lien Revolver		366,928		241,124		125,804
Galileo Parent, Inc.	First Lien Revolver		3,072		2,019		1,053
GASL Bermuda	Tranche B1 Revolver		3,100,000		2,523,216		576,784
Geotechnical Merger Sub	Delay Draw Term Loan		623,000		305,270		317,730
Geotechnical Merger Sub	Revolver		234,000		54,600		179,400
Grove Hotel Parcel Owner LLC	Revolver		175,377		0		175,377
ICIMS, Inc.	First Lien Revolver		74,787		20,940		53,847
ICIMS, Inc.	First Lien Revolver		17,949		5,026		12,923
ICIMS, Inc.	First Lien Revolver		64,816		18,149		46,667
Inspira	First Lien Delay Draw Term Loan		172,000		0		172,000
Inspira	First Lien Revolver		103,000		0		103,000
Integrity Marketing Acquisition LLC	First Lien Delay Draw Term Loan		577,935		0		577,935
Integrity Marketing Acquisition LLC	First Lien Revolver		234,995		0		234,995
Inventus Power, Inc.			94,000		21,933		72,067
Kings Buyer LLC	First Lien Revolver		472,406		141,723		330,683
Kite Midco II	Delay Draw Term Loan		216,000		0		216,000
Legends Hospitality Holding Co.	First Lien Delay Draw Term Loan		26,926		16,678		10,248
Legends Hospitality Holding Co.	First Lien Delay Draw Term Loan		48,956		30,324		18,632
Legends Hospitality Holding Co.	First Lien Revolver		152,000		15,201		136,799
Lightbox Intermediate	Revolver		77,000		0		77,000
LSL Holdco RC	First Lien Revolver		266,412		181,160		85,252
Monotype Imaging Holdings	First Lien Delay Draw Term Loan		116,712		30,015		86,697
Monotype Imaging Holdings	First Lien Revolver		176,000		0		176,000
MRI Software LLC	First Lien Revolver		166,000		16,600		149,400
Next Holdco LLC	First Lien Delay Draw Term Loan		213,000		0		213,000
Next Holdco LLC	First Lien Revolver		80,000		0		80,000
NFM & J LP	First Lien Delay Draw Term Loan		275,530		30,524		245,006
NFM & J LP	First Lien Revolver		89,263		15,621		73,642
NFM & J LP	First Lien Revolver		21,100		3,692		17,408
Optimizely North America	First Lien Revolver		231,000		0		231,000
Petvet Care Centers LLC	First Lien Delay Draw Term Loan		307,000		0		307,000
Petvet Care Centers LLC	First Lien Revolver		307,000		0		307,000
Pluralsight Inc	First Lien Delay Draw Term Loan		60,308		0		60,308
Pluralsight Inc	First Lien Revolver		24,123		0		24,123
Protein For Pets Opco	Revolver		103,000		27,810		75,190
Sorenson Communications	Revolver		198,000		0		198,000
Spruce Bidco II	First Lien Revolver		614,000		0		614,000
THG Acquisition	First Lien Delay Draw Term Loan		18,629		3,023		15,606
THG Acquisition	First Lien Delay Draw Term Loan		7,326		1,189		6,137
THG Acquisition	First Lien Delay Draw Term Loan		87,081		14,127		72,954
THG Acquisition	First Lien Delay Draw Term Loan		104,917		17,020		87,897
THG Acquisition	First Lien Delay Draw Term Loan		20,931		3,396		17,535
THG Acquisition	First Lien Revolver		72,368		5,376		66,992
THG Acquisition	First Lien Revolver		45,230		3,360		41,870
THG Acquisition	First Lien Revolver		1,402		104		1,298
Truck-Lite Company	First Lien Revolver		105,000		0		105,000
Truck-Lite Company	First Lien Tranche A Delay Draw Term Loan		37,800		0		37,800
USIC Holdings Inc.	First Lien Delay Draw Term Loan		63,070		28,622		34,448
USIC Holdings Inc.	First Lien Delay Draw Term Loan		21,714		9,854		11,860
USIC Holdings Inc.	First Lien Revolver		110,393		38,480		71,913
USIC Holdings Inc.	First Lien Revolver		59,672		20,800		38,872
USIC Holdings Inc.	First Lien Revolver		11,934		4,160		7,774
WP CPP Holdings	First Lien Revolver		90,000		0		90,000
		$	33,885,738	$	11,205,502	$	22,680,234

(d)		Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of September 30, 2025, the value of these securities total $164,238,235 or 50.8% of the Fund’s net assets.
(e)		Security is exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. As of September 30, 2025, the value of these securities total $4,406,581 or 1.4% of the Fund’s net assets.
(f)		Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of September 30, 2025.
(g)		Step coupon bond. The rate disclosed is as of September 30, 2025.
(h)		Interest only security.
(i)		Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon reset date.
(j)		Zero coupon bonds make no periodic interest payments.
(k)		Restricted security purchased in a private placement transaction in which resale to the public may require registration. As of September 30, 2025, the value of these securities total $3,673,581 or 1.1% of the Fund’s net assets.
(l)		Non-income producing security.
(m)		Represents less than 0.05% of net assets.
(n)		Issuer is currently in default.
(o)		The rate shown represents the 7-day annualized yield as of September 30, 2025.
(p)		These securities are pledged as collateral for the credit facility.

Futures Contracts:
As of September 30, 2025, the following futures contracts were outstanding:


Description	Contracts Purchased		Expiration Date	Notional Value		Value / Unrealized Depreciation
U.S. Treasury 2 Year Note		205	12/31/2025	$	42,721,680	$	(13,225	)
						$	(13,225	)
							–
Description	Contracts Sold		Expiration Date	Notional Value		Value / Unrealized Appreciation
U.S. Treasury 5 Year Note		(91)	12/31/2025	$	9,936,774	$	172
						$	172
Net Unrealized Depreciation			$ –	$	–	$	(13,053	)

Forward Currency Contracts:
As of September 30, 2025, the following forward currency contracts were outstanding:

Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation
State Street Bank & Trust Co.	10/16/2025	CAD	9,692	USD	7,042	$	(72	)
State Street Bank & Trust Co.	10/16/2025	EUR	43,359,971	USD	50,012,171		946,607
State Street Bank & Trust Co.	10/16/2025	GBP	126,183	USD	170,035		(315	)
State Street Bank & Trust Co.	10/16/2025	JPY	800,961	USD	5,434		(8	)
State Street Bank & Trust Co.	10/16/2025	SEK	402,380	USD	42,800		(12	)
State Street Bank & Trust Co.	10/16/2025	USD	2,804,015	AUD	4,283,594		(31,139	)
State Street Bank & Trust Co.	10/16/2025	USD	366,421	CAD	499,600		7,140
State Street Bank & Trust Co.	10/16/2025	USD	57,128,097	EUR	51,792,932		(3,741,513	)
State Street Bank & Trust Co.	04/16/2026	USD	48,278,114	EUR	41,412,004		(852,099	)
State Street Bank & Trust Co.	10/16/2025	USD	13,475,335	GBP	9,966,312		70,311
State Street Bank & Trust Co.	10/16/2025	USD	365,357	JPY	52,997,802		6,336
State Street Bank & Trust Co.	10/16/2025	USD	827,594	SEK	7,700,000		8,794
Net Unrealized Depreciation						$	(3,585,970	)

AUD - Australian Dollars
CAD - Canadian Dollar
EUR - Euro
GBP - British Pound
JPY - Japanese Yen
SEK - Swedish Krona
USD - United States Dollar

Allocation of Portfolio Holdings by Country as of September 30, 2025 (% of Net Assets)
United States	$	273,715,288		84.8	%
Cayman Islands		34,698,621		10.7
Ireland		13,825,643		4.3
United Kingdom		11,954,903		3.7
Germany		9,439,696		2.9
Luxembourg		8,006,587		2.5
France		7,342,005		2.3
Canada		7,197,058		2.2
Bermuda		5,660,853		1.8
Australia		5,228,987		1.6
Netherlands		4,462,375		1.4
Mexico		3,908,720		1.2
Italy		3,694,881		1.1
Brazil		2,845,877		0.9
Sweden		2,411,631		0.7
Colombia		2,247,979		0.7
India		1,765,812		0.5
Denmark		1,747,238		0.5
Spain		1,571,666		0.5
Jersey		999,407		0.3
Japan		800,219		0.2
Finland		510,055		0.2
Chile		492,724		0.2
China		358,768		0.1
Czech Republic		295,114		0.1
Turkey		257,654		0.1
Argentina		255,878		0.1
Other Liabilities in Excess of Other Assets		(82,652,930	)	(25.6	)
	$	323,042,709		100.0	%

Oaktree Diversified Income Fund Inc.

The following table summarizes the Fund’s investments valuation inputs categorized in the disclosure hierarchy as of September 30, 2025:

	Level 1			Level 2			Level 3		Total
Assets:
Investments:
Corporate Credit:
Senior Loans (Syndicated)	$	–		$	112,341,150		$	1,554,610	$	113,895,760
High Yield		–			77,860,490			1,900,000		79,760,490
Corporate Credit - Total		–			190,201,640			3,454,610		193,656,250
Structured Credit:
Collateralized Loan Obligations	$	–		$	51,554,397		$	–	$	51,554,397
Asset-Backed Securities		–			17,547,518			3,155,444		20,702,962
Commercial Mortgage-Backed Securities		–			15,735,078			42,874		15,777,952
Residential Mortgage-Backed Securities		–			12,983,418			–		12,983,418
High Yield		–			2,973,903			–		2,973,903
Structured Credit - Total		–			100,794,314			3,198,318		103,992,632
Private Credit:
Senior Loans	$	–		$	1,113,015		$	71,713,745	$	72,826,760
Senior Loans (Syndicated)		–			–			8,867,391		8,867,391
Preferred Stock		–			–			3,166,101		3,166,101
Private Placement Equity		–			–			1,934,523		1,934,523
Warrants		–			–			156,760		156,760
Common Stock		9,106			–			–		9,106
Private Credit - Total		9,106			1,113,015			85,838,520		86,960,641
Emerging Market:
High Yield	$	–		$	14,318,487		$	–	$	14,318,487
Emerging Market - Total		–			14,318,487			–		14,318,487
Money Market Funds		6,767,629			–			–		6,767,629
Total Investments	$	6,776,735		$	306,427,456		$	92,491,448	$	405,695,639

Other Financial Instruments:
Forward Currency Contracts*	$	–		$	1,039,188		$	–	$	1,039,188
Unfunded Loan Commitments*		–			61			15,414		15,475
Futures Contracts*		172			–			–		172
Total Other Financial Instruments	$	172		$	1,039,249		$	15,414	$	1,054,835

Liabilities:
Other Financial Instruments:
Forward Currency Contracts*	$	–		$	(4,625,158	)	$	–	$	(4,625,158	)
Futures Contracts*		(13,225	)		–			–		(13,225	)
Total Other Financial Instruments	$	(13,225	)	$	(4,625,158	)	$	–	$	(4,638,383	)

* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. For further information regarding security characteristics, see the Consolidated Schedule of Investments.