NPORT-P false 0000833040 XXXXXXXX Franklin Universal Trust 811-05569 0000833040 5493009UE75VG0DU8V76 One Franklin Parkway San Mateo 94403-1906 650-312-2000 Franklin Universal Trust 5493009UE75VG0DU8V76 2020-08-31 2019-11-30 N 281584667.54 67279203 214305464.54 0 0 0 0 0 64912044.3 0 0 0 0 700000 0 0 0 USD N Performance Food Group Inc 5.5% 10/15/2027 144A 549300OMUOGBYK0FFO76 69346VAA7 700000.00000000 PA USD 745517.50000000 0.347876103672 Long DBT CORP US N 2 2027-10-15 Fixed 5.50000000 N N N N N N KFC HLDG/PIZZA HUT/TACO BELL 5.00% 06/01/2024 144A N/A 48250NAA3 600000.00000000 PA USD 623994.00000000 0.291170363452 Long DBT CORP US N 2 2024-06-01 Fixed 5.00000000 N N N N N N LCPR Senior Secured Financing DAC 6.75% 10/15/2027 144A 549300LE5FM8IKMXSP90 50201DAA1 900000.00000000 PA USD 930375.00000000 0.434134986710 Long DBT CORP IE N 2 2027-10-15 Fixed 6.75000000 N N N N N N NEXSTAR BROADCASTING INC 5.625% 08/01/2024 144A 5493006PK6I4I2OOT688 65341XAA6 900000.00000000 PA USD 940491.00000000 0.438855351644 Long DBT CORP US N 2 2024-08-01 Fixed 5.62500000 N N N N N N HCA Inc 5.875% 02/01/2029 L3CJ6J7LJ2DX62FTXD46 404119BW8 600000.00000000 PA USD 686250.00000000 0.320220485965 Long DBT CORP US N 2 2029-02-01 Fixed 5.87500000 N N N N N N Clear Channel Worldwide Holdings Inc 5.125% 08/15/2027 144A N/A 18453HAA4 1000000.00000000 PA USD 1042525.00000000 0.486466830063 Long DBT CORP US N 2 2027-08-15 Fixed 5.12500000 N N N N N N Diamondback Energy Inc 4.75% 11/01/2024 549300R22LSX6OHWEN64 25278XAE9 900000.00000000 PA USD 935001.00000000 0.436293587756 Long DBT CORP US N 2 2024-11-01 Fixed 4.75000000 N N N N N N FERRELLGAS LP/FINANCE CORP 6.75% 06/15/2023 N/A 315292AR3 600000.00000000 PA USD 513249.00000000 0.239494126340 Long DBT CORP US N 2 2023-06-15 Fixed 6.75000000 N N N N N N CSI Compressco LP / CSI Compressco Finance Inc 7.5% 04/01/2025 144A N/A 12652HAA6 100000.00000000 PA USD 95041.50000000 0.044348612483 Long DBT CORP US N 2 2025-04-01 Fixed 7.50000000 N N N N N N NCI Building Systems Inc 8.00% 04/15/2026 144A 549300IW41QEWQ6T0H29 72431PAA0 900000.00000000 PA USD 915772.50000000 0.427321114730 Long DBT CORP US N 2 2026-04-15 Fixed 8.00000000 N N N N N N TEMPO ACQUISITION LLC / TEMPO ACQUISITION FINANC 6.75% 06/01/2025 144A N/A 88023JAA4 1600000.00000000 PA USD 1651984.00000000 0.770854818632 Long DBT CORP US N 2 2025-06-01 Fixed 6.75000000 N N N N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-31 FRN 09/15/2044 2019-31 PT 144A N/A 21055FAA4 934829.43000000 PA USD 863205.98000000 0.402792332828 Long LON CORP US Y 2 2044-09-15 Variable 22.58 N N N N N N Neon Holdings Inc 10.125% 04/01/2026 144A N/A 64051NAA1 1200000.00000000 PA USD 1211847.00000000 0.565476481246 Long DBT CORP US N 2 2026-04-01 Fixed 10.12500000 N N N N N N DELL INTERNATIONAL LLC / EMC CORP 7.125% 06/15/2024 144A N/A 25272KAW3 200000.00000000 PA USD 211750.00000000 0.098807559785 Long DBT CORP US N 2 2024-06-15 Fixed 7.12500000 N N N N N N FIRSTCASH INC 5.375% 06/01/2024 144A 549300V2X3UU7K0DG350 33767DAA3 1100000.00000000 PA USD 1143081.50000000 0.533388872026 Long DBT CORP US N 2 2024-06-01 Fixed 5.37500000 N N N N N N Endeavor Energy Resources LP / EER Finance Inc 5.75% 01/30/2028 144A N/A 29260FAE0 1000000.00000000 PA USD 1048982.50000000 0.489480052340 Long DBT CORP US N 2 2028-01-30 Fixed 5.75000000 N N N N N N Ashton Woods USA LLC / Ashton Woods Finance Co 9.875% 04/01/2027 144A N/A 045086AH8 400000.00000000 PA USD 449139.00000000 0.209578883564 Long DBT CORP US N 2 2027-04-01 Fixed 9.87500000 N N N N N N GOODRICH PETROLEUM CORP COM USD NPV *COM PAR $* 5493000G2GU65EVWSF15 382410843 19379.00000000 NS USD 190301.78000000 0.088799312891 Long EC CORP US N 1 N N N OCI NV 6.625% 04/15/2023 144A 549300NCMRGIBJYUOE57 67091GAA1 500000.00000000 PA USD 523750.00000000 0.244394141383 Long DBT CORP NL N 2 2023-04-15 Fixed 6.62500000 N N N N N N Digicel Group One Ltd 8.25% 12/30/2022 144A N/A 25382DAA4 463000.00000000 PA USD 268540.00000000 0.125307117378 Long DBT CORP BM N 2 2022-12-30 Fixed 8.25000000 N N N N N N FIVE POINT OPERATING CO LP/FIVE POINT CAPITAL CO 7.875% 11/15/2025 144A N/A 33834YAA6 1000000.00000000 PA USD 981660.00000000 0.458065781060 Long DBT CORP US N 2 2025-11-15 Fixed 7.87500000 N N N N N N T-MOBILE USA INC 6.50% 01/15/2024 549300V2JRLO5DIFGE82 87264AAJ4 200000.00000000 PA USD 207498.00000000 0.096823475988 Long DBT CORP US N 2 2024-01-15 Fixed 6.50000000 N N N N N N T-MOBILE USA INC ESRW USD NPV REF SM#585558 549300V2JRLO5DIFGE82 87299ATH7 500000.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N SOUTHERN CO/THE COM USD5 549300FC3G3YU2FBZD92 842587107 60000.00000000 NS USD 3719400.00000000 1.735560037157 Long EC CORP US N 1 N N N Vistra Operations Co LLC 5.625% 02/15/2027 144A 549300ZH5GKBTJZ7NM23 92840VAB8 1500000.00000000 PA USD 1578783.75000000 0.736697850140 Long DBT CORP US N 2 2027-02-15 Fixed 5.62500000 N N N N N N PINNACLE WEST CAPITAL CORP COM NPV TWSEY0NEDUDCKS27AH81 723484101 30000.00000000 NS USD 2621700.00000000 1.223347246710 Long EC CORP US N 1 N N N Trivium Packaging Finance BV 8.5% 08/15/2027 144A 724500GMZWW3PVYET548 89686QAB2 1000000.00000000 PA USD 1094370.00000000 0.510658933662 Long DBT CORP NL N 2 2027-08-15 Fixed 8.50000000 N N N N N N Mauser Packaging Solutions Holding Co 7.25% 04/15/2025 144A 549300DNGHXL0OMHW304 12429TAE4 1800000.00000000 PA USD 1709982.00000000 0.797918057605 Long DBT CORP US N 2 2025-04-15 Fixed 7.25000000 N N N N N N CALIFORNIA RESOURCES CORP 6.00% 11/15/2024 5493003Q8F0T4F4YMR48 13057QAF4 15000.00000000 PA USD 2850.00000000 0.001329877428 Long DBT CORP US N 2 2024-11-15 Fixed 6.00000000 N N N N N N WEATHERFORD INTERNATIONAL LTD 6.5% 07/03/2020 DIP Term Loan 529900LPBDSCQDJKHQ39 94707NAR9 981131.74000000 PA USD 981131.74000000 0.457819282446 Long LON CORP IE N 2 2020-07-03 Floating 4.79000000 N N N N N N Murray Energy Corp 12%/9% CASH+3% PIK HYBD 4/15/24 TOGG 144A *DEFAULT* 549300WM5IIFYHZYTT63 62704PAM5 757734.00000000 PA USD 1970.11000000 0.000919299936 Long DBT CORP US N 3 2024-04-15 None 9.00000000 Y N Y N N N HCA INC 5.875% 02/15/2026 L3CJ6J7LJ2DX62FTXD46 404119BS7 1400000.00000000 PA USD 1583785.00000000 0.739031551714 Long DBT CORP US N 2 2026-02-15 Fixed 5.87500000 N N N N N N SPRINT CORP 7.625% 03/01/2026 549300ZTTY7CXOLJ6539 85207UAK1 600000.00000000 PA USD 656235.00000000 0.306214776841 Long DBT CORP US N 2 2026-03-01 Fixed 7.62500000 N N N N N N Adient US LLC 7% 05/15/2026 144A 213800SOTRCDGZUHL712 00688JAA5 1900000.00000000 PA USD 2034759.40000000 0.949466876342 Long DBT CORP US N 2 2026-05-15 Fixed 7.00000000 N N N N N N CCO HOLDINGS LLC/CAPITAL CORP 5.25% 09/30/2022 N/A 1248EPAY9 1700000.00000000 PA USD 1726562.50000000 0.805654911182 Long DBT CORP US N 2 2022-09-30 Fixed 5.25000000 N N N N N N STEEL DYNAMICS INC 5.50% 10/01/2024 549300HGGKEL4FYTTQ83 858119BD1 900000.00000000 PA USD 930271.50000000 0.434086691161 Long DBT CORP US N 2 2024-10-01 Fixed 5.50000000 N N N N N N Consumer Loan Underlying Bond CLUB CERTIFICATE ISSUER TRUST FRN 01/15/2045 2019-S8 PT 144A N/A 21057BAA1 795174.00000000 PA USD 741199.02000000 0.345860998734 Long LON CORP US N 2 2045-01-15 Variable 11.541267 N N N N N N T-MOBILE USA INC ESRW USD NPV REF SM#683270 549300V2JRLO5DIFGE82 87299ATW4 600000.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N WMG ACQUISITION CORP 5.00% 08/01/2023 144A 549300NAS11NXI33CP80 92933BAK0 200000.00000000 PA USD 205083.00000000 0.095696579851 Long DBT CORP US N 2 2023-08-01 Fixed 5.00000000 N N N N N N KFC HLDG/PIZZA HUT/TACO BELL 5.25% 06/01/2026 144A N/A 48250NAB1 600000.00000000 PA USD 637575.00000000 0.297507579365 Long DBT CORP US N 2 2026-06-01 Fixed 5.25000000 N N N N N N DAE FUNDING LLC 5.00% 08/01/2024 144A 635400SZTPQL3Y1P2C76 23371DAB0 700000.00000000 PA USD 735875.00000000 0.343376685041 Long DBT CORP US N 2 2024-08-01 Fixed 5.00000000 N N N N N N NAVIENT CORP 7.25% 09/25/2023 54930067J0ZNOEBRW338 63938CAE8 600000.00000000 PA USD 667494.00000000 0.311468492617 Long DBT CORP US N 2 2023-09-25 Fixed 7.25000000 N N N N N N Springleaf Finance Corp 5.375% 11/15/2029 5493008I795YYBFWFU90 85172FAR0 500000.00000000 PA USD 516250.00000000 0.240894463941 Long DBT CORP US N 2 2029-11-15 Fixed 5.37500000 N N N N N N ALLISON TRANSMISSION INC 4.75% 10/01/2027 144A MWKQ3I0U1GXP2YDSZW75 019736AE7 600000.00000000 PA USD 618208.50000000 0.288470712273 Long DBT CORP US N 2 2027-10-01 Fixed 4.75000000 N N N N N N NOVELIS CORP 6.25% 08/15/2024 144A 549300G5F3W3B52WYL23 670001AA4 700000.00000000 PA USD 737821.00000000 0.344284734681 Long DBT CORP US N 2 2024-08-15 Fixed 6.25000000 N N N N N N CNO Financial Group Inc 5.25% 05/30/2029 11XPYHB76MPM4Y4P2897 12621EAL7 1000000.00000000 PA USD 1110922.50000000 0.518382721777 Long DBT CORP US N 2 2029-05-30 Fixed 5.25000000 N N N N N N ENQUEST PLC 7.00%/7.00% 04/15/2022 TOGG PIK 144A 2138008LJU6WFQWOXJ73 G315APAC2 588666.00000000 PA USD 505973.14000000 0.236099037925 Long DBT CORP GB N 2 2022-04-15 Fixed 7.00000000 N N N N N N Centene Corp 5.375% 06/01/2026 144A 549300Z7JJ4TQSQGT333 15137TAA8 1700000.00000000 PA USD 1808417.50000000 0.843850390787 Long DBT CORP US N 2 2026-06-01 Fixed 5.37500000 N N N N N N CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.75% 04/15/2023 N/A 131477AQ4 800000.00000000 PA USD 772000.00000000 0.360233464721 Long DBT CORP US N 2 2023-04-15 Fixed 7.75000000 N N N N N N New Enterprise Stone & Lime Co 6.25% 03/15/2026 144A 549300O5DQ5Y61B8VF38 644274AF9 900000.00000000 PA USD 945312.75000000 0.441105294271 Long DBT CORP US N 2 2026-03-15 Fixed 6.25000000 N N N N N N NEW GOLD INC 6.375% 05/15/2025 144A 5493005G0GNCHP0H6L96 644532AA1 500000.00000000 PA USD 456250.00000000 0.212897044403 Long DBT CORP CA N 2 2025-05-15 Fixed 6.37500000 N N N N N N TAYLOR MORRISON COMMUNITIES INC / TAYLOR MORRISO 5.625% 03/01/2024 144A N/A 877249AD4 600000.00000000 PA USD 646749.00000000 0.301788384812 Long DBT CORP US N 2 2024-03-01 Fixed 5.62500000 N N N N N N Sealed Air Corp 4% 12/01/2027 144A Q0M0CZB4YN6JZ65WXI09 81211KAY6 600000.00000000 PA USD 604500.00000000 0.282074001844 Long DBT CORP US N 2 2027-12-01 Fixed 4.00000000 N N N N N N ENDO DAC / ENDO FINANCE LLC / ENDO FINCO INC 6.00% 07/15/2023 144A N/A 29273EAC2 819000.00000000 PA USD 534389.31000000 0.249358695144 Long DBT CORP IE N 2 2023-07-15 Fixed 6.00000000 N N N N N N HUGHES SATELLITE SYSTEMS CORPORATION 6.625% 08/01/2026 N/A 444454AF9 1300000.00000000 PA USD 1430451.75000000 0.667482629558 Long DBT CORP US N 2 2026-08-01 Fixed 6.62500000 N N N N N N OWENS-BROCKWAY GLASS CONTAINER INC 5.875% 08/15/2023 144A V2UQUCDZJ9WY98W8QU33 69073TAR4 500000.00000000 PA USD 530625.00000000 0.247602179038 Long DBT CORP US N 2 2023-08-15 Fixed 5.87500000 N N N N N N SPRINT CORP 7.875% 09/15/2023 549300ZTTY7CXOLJ6539 85207UAF2 1200000.00000000 PA USD 1322250.00000000 0.616993133067 Long DBT CORP US N 2 2023-09-15 Fixed 7.87500000 N N N N N N UNIVISION COMMUNICATIONS INC 6.75% 09/15/2022 144A 549300YQDE2JSGTL8V47 914906AP7 116000.00000000 PA USD 117776.19000000 0.054957156716 Long DBT CORP US N 2 2022-09-15 Fixed 6.75000000 N N N N N N Clearway Energy Operating LLC 5.75% 10/15/2025 549300Z3NFMM54NWBB87 18539UAB1 400000.00000000 PA USD 420996.00000000 0.196446693929 Long DBT CORP US N 2 2025-10-15 Fixed 5.75000000 N N N N N N NEXTERA ENERGY INC COM USD.01 N/A 65339F101 30000.00000000 NS USD 7014600.00000000 3.273178318180 Long EC CORP US N 1 N N N LENDING CLUB 4002 MARKETPLACE LOANS 549300YC50YO7Y1OJR92 000000000 0.00000000 PA USD 3123808.95000000 1.457643162158 Long LON CORP US N 3 2023-11-21 Fixed 15.649299 N N N N N N CSC Holdings LLC 5.5% 05/15/2026 144A 3HG2WD2W22M120IUNG49 126307AU1 1200000.00000000 PA USD 1270479.00000000 0.592835559619 Long DBT CORP US N 2 2026-05-15 Fixed 5.50000000 N N N N N N CENTERPOINT ENERGY INC COM USD1 21TPXMRRHFKOBHDC8J74 15189T107 122800.00000000 NS USD 3015968.00000000 1.407322023483 Long EC CORP US N 1 N N N BWX Technologies Inc 5.375% 07/15/2026 144A 549300NP85N265KWMS58 05605HAA8 600000.00000000 PA USD 634708.50000000 0.296170002646 Long DBT CORP US N 2 2026-07-15 Fixed 5.37500000 N N N N N N FIRST QUANTUM MINERALS LTD 7.25% 04/01/2023 144A 549300I7UVBGWRYMYZ18 335934AK1 600000.00000000 PA USD 609000.00000000 0.284173808310 Long DBT CORP CA N 2 2023-04-01 Fixed 7.25000000 N N N N N N SPRINT CORP 7.125% 06/15/2024 549300ZTTY7CXOLJ6539 85207UAH8 500000.00000000 PA USD 540000.00000000 0.251976775841 Long DBT CORP US N 2 2024-06-15 Fixed 7.12500000 N N N N N N Blackboard Inc 10.375% 11/15/2024 144A 549300ONVS6PJZ5LRX23 091935AE6 1600000.00000000 PA USD 1572000.00000000 0.733532391894 Long DBT CORP US N 2 2024-11-15 Fixed 10.37500000 N N N N N N HAT Holdings I LLC / HAT Holdings II LLC 5.25% 07/15/2024 144A N/A 418751AA1 800000.00000000 PA USD 846992.00000000 0.395226506154 Long DBT CORP US N 2 2024-07-15 Fixed 5.25000000 N N N N N N PRESTIGE BRANDS INC 6.375% 03/01/2024 144A 549300JBVP4J6D42I235 74112BAK1 900000.00000000 PA USD 939366.00000000 0.438330400027 Long DBT CORP US N 2 2024-03-01 Fixed 6.37500000 N N N N N N TPC Group Inc 10.5% 08/01/2024 144A 549300K276KVW5JD1583 89236YAB0 600000.00000000 PA USD 604494.00000000 0.282071202102 Long DBT CORP US N 2 2024-08-01 Fixed 10.50000000 N N N N N N NISOURCE INC COM USD.01 549300D8GOWWH0SJB189 65473P105 60000.00000000 NS USD 1587000.00000000 0.740531746778 Long EC CORP US N 1 N N N XCEL ENERGY INC COM USD2.5 LGJNMI9GH8XIDG5RCM61 98389B100 60000.00000000 NS USD 3689400.00000000 1.721561327388 Long EC CORP US N 1 N N N HALCON RESOURCES CORP WTS EXP 09/09/2020 *do not use* 3XHTN2NNIMMPORDAMJ28 40537Q118 4668.00000000 OU Warrants USD 0.00000000 0.000000 Long CORP US N 3 N N N Clear Channel Worldwide Holdings Inc 9.25% 02/15/2024 144A N/A 18451QAN8 510000.00000000 PA USD 563065.50000000 0.262739683847 Long DBT CORP US N 2 2024-02-15 Fixed 9.25000000 N N N N N N United Rentals North America Inc 3.875% 11/15/2027 NGIZXNT70J2LYT3FBI09 911365BM5 600000.00000000 PA USD 606750.00000000 0.283123905077 Long DBT CORP US N 2 2027-11-15 Fixed 3.87500000 N N N N N N CONSOLIDATED EDISON INC COM USD.1 54930033SBW53OO8T749 209115104 40000.00000000 NS USD 3475600.00000000 1.621797189101 Long EC CORP US N 1 N N N Harsco Corp 5.75% 07/31/2027 144A KAO98FK89NPNNPQGUZ43 415864AM9 1500000.00000000 PA USD 1582537.50000000 0.738449438700 Long DBT CORP US N 2 2027-07-31 Fixed 5.75000000 N N N N N N ENDO DAC / ENDO FINANCE LLC / ENDO FINCO INC 6.00% 02/01/2025 144A N/A 29273EAA6 800000.00000000 PA USD 500248.00000000 0.233427552150 Long DBT CORP IE N 2 2025-02-01 Fixed 6.00000000 N N N N N N BIRCH PERMIAN HOLDINGS INC COM USD NPV *Accd inv/Restricted* 5493008GXCEAUIZGCH60 09075C203 28796.00000000 NS USD 269962.50000000 0.125970889533 Long EC CORP US N 2 N N N T-MOBILE USA INC 4.75% 02/01/2028 549300V2JRLO5DIFGE82 87264AAV7 600000.00000000 PA USD 629265.00000000 0.293629936759 Long DBT CORP US N 2 2028-02-01 Fixed 4.75000000 N N N N N N CHENIERE CORPUS CHRISTI HLDGS LLC 5.875% 03/31/2025 549300I7CIEWU1BBLQ53 16412XAC9 1000000.00000000 PA USD 1120200.00000000 0.522711822773 Long DBT CORP US N 2 2025-03-31 Fixed 5.87500000 N N N N N N HD Supply Inc 5.375% 10/15/2026 144A 549300G8FYZDYZMZED76 40415RAS4 600000.00000000 PA USD 637393.50000000 0.297422887170 Long DBT CORP US N 2 2026-10-15 Fixed 5.37500000 N N N N N N SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENERGY PART 7.50% 06/15/2025 144A N/A 86723CAF5 1700000.00000000 PA USD 1542733.00000000 0.719875717267 Long DBT CORP US N 2 2025-06-15 Fixed 7.50000000 N N N N N N CSC HOLDINGS LLC 5.25% 06/01/2024 3HG2WD2W22M120IUNG49 126307AH0 700000.00000000 PA USD 754243.00000000 0.351947628409 Long DBT CORP US N 2 2024-06-01 Fixed 5.25000000 N N N N N N DKT Finance ApS 9.375% 06/17/2023 144A 529900CPZ2SMDPG5RV48 255882AA0 1500000.00000000 PA USD 1597642.50000000 0.745497789069 Long DBT CORP DK N 2 2023-06-17 Fixed 9.37500000 N N N N N N CRESTWOOD MIDSTREAM PARTNERS LP/FINANCE CORP 5.75% 04/01/2025 N/A 226373AP3 800000.00000000 PA USD 806232.00000000 0.376206925815 Long DBT CORP US N 2 2025-04-01 Fixed 5.75000000 N N N N N N Amkor Technology Inc 6.625% 09/15/2027 144A 529900VHLRTKPWZJBM84 031652BK5 1000000.00000000 PA USD 1095025.00000000 0.510964572158 Long DBT CORP US N 2 2027-09-15 Fixed 6.62500000 N N N N N N IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO N/A 457756500 2838512.91000000 NS USD 2838512.91000000 1.324517280085 Long EC RF US N 1 N N N CALPINE CORP 5.75% 01/15/2025 43R4VPJBXTU2O15HEF41 131347CF1 1800000.00000000 PA USD 1831500.00000000 0.854621231395 Long DBT CORP US N 2 2025-01-15 Fixed 5.75000000 N N N N N N FMG RESOURCES AUGUST 2006 PTY LTD 5.125% 03/15/2023 144A 549300EFD6S2NFE9D745 30251GAY3 400000.00000000 PA USD 418996.00000000 0.195513446611 Long DBT CORP AU N 2 2023-03-15 Fixed 5.12500000 N N N N N N Murphy Oil USA Inc 4.75% 09/15/2029 N32S6DTR2ZZ5222WHV58 626738AE8 1200000.00000000 PA USD 1269867.00000000 0.592549985939 Long DBT CORP US N 2 2029-09-15 Fixed 4.75000000 N N N N N N DOMINION ENERGY INC COM USD NPV ILUL7B6Z54MRYCF6H308 25746U109 67200.00000000 NS USD 5584992.00000000 2.606089402334 Long EC CORP US N 1 N N N PLASTIPAK HLDGS INC 6.25% 10/15/2025 144A N/A 727610AN7 1700000.00000000 PA USD 1436500.00000000 0.670304886104 Long DBT CORP US N 2 2025-10-15 Fixed 6.25000000 N N N N N N ELEMENT SOLUTIONS INC 5.875% 12/01/2025 144A 549300FLGN6P5CU20J91 72766QAD7 1000000.00000000 PA USD 1042490.00000000 0.486450498235 Long DBT CORP US N 2 2025-12-01 Fixed 5.87500000 N N N N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-SLCT3 FRN 06/15/2044 144A N/A 21055RAA8 290614.75000000 PA USD 270888.58000000 0.126403020371 Long LON CORP US Y 2 2044-06-15 Variable 14.006816 N N N N N N NAVIENT CORP 6.625% 07/26/2021 54930067J0ZNOEBRW338 63938CAD0 400000.00000000 PA USD 424904.00000000 0.198270259189 Long DBT CORP US N 2 2021-07-26 Fixed 6.62500000 N N N N N N BEACON ROOFING SUPPLY INC 4.875% 11/01/2025 144A 549300HDXQWWCBOYXP31 073685AD1 1000000.00000000 PA USD 971250.00000000 0.453208228770 Long DBT CORP US N 2 2025-11-01 Fixed 4.87500000 N N N N N N GRINDING MEDIA INC / MOLY-COP ALTASTEEL LTD 7.375% 12/15/2023 144A N/A 398545AA1 1000000.00000000 PA USD 1000560.00000000 0.466884968214 Long DBT CORP US N 2 2023-12-15 Fixed 7.37500000 N N N N N N ENTERGY CORP COM USD0.01 4XM3TW50JULSLG8BNC79 29364G103 30000.00000000 NS USD 3491700.00000000 1.629309830010 Long EC CORP US N 1 N N N T-MOBILE USA INC 6.375% 03/01/2025 549300V2JRLO5DIFGE82 87264AAN5 500000.00000000 PA USD 520000.00000000 0.242644302662 Long DBT CORP US N 2 2025-03-01 Fixed 6.37500000 N N N N N N MPH ACQUISITION HOLDINGS LLC 7.125% 06/01/2024 144A 5493002WXOPRPTXWTU06 553283AB8 1300000.00000000 PA USD 1182987.00000000 0.552009722448 Long DBT CORP US N 2 2024-06-01 Fixed 7.12500000 N N N N N N Amplify Energy Corp COM USD.01 J0TW5YQRAZXYN7VEU787 03212B103 245.00000000 NS USD 1347.50000000 0.000628775380 Long EC CORP US N 1 N N N Scripps Escrow Inc 5.875% 07/15/2027 144A N/A 81104PAA7 600000.00000000 PA USD 617706.00000000 0.288236233885 Long DBT CORP US N 2 2027-07-15 Fixed 5.87500000 N N N N N N CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022 5493007X5NC5XI1BB106 12543DAV2 175000.00000000 PA USD 136937.50000000 0.063898277299 Long DBT CORP US N 2 2022-02-01 Fixed 6.87500000 N N N N N N CHS/COMMUNITY HEALTH SYSTEMS INC 6.25% 03/31/2023 5493007X5NC5XI1BB106 12543DAY6 600000.00000000 PA USD 594000.00000000 0.277174453425 Long DBT CORP US N 2 2023-03-31 Fixed 6.25000000 N N N N N N COMMSCOPE TECHNOLOGIES LLC 6.00% 06/15/2025 144A M4TWC4QDOKW45N7T6Y12 20337YAA5 1700000.00000000 PA USD 1653250.00000000 0.771445564185 Long DBT CORP US N 2 2025-06-15 Fixed 6.00000000 N N N N N N CHS/Community Health Systems Inc 8.125% 06/30/2024 144A 5493007X5NC5XI1BB106 12543DBA7 718000.00000000 PA USD 563630.00000000 0.263003092902 Long DBT CORP US N 2 2024-06-30 Fixed 8.12500000 N N N N N N FIRSTENERGY CORP COM USD.1 549300SVYJS666PQJH88 337932107 40000.00000000 NS USD 1907600.00000000 0.890131291842 Long EC CORP US N 1 N N N DELL INTERNATIONAL LLC / EMC CORP 5.875% 06/15/2021 144A N/A 25272KAU7 132000.00000000 PA USD 134145.00000000 0.062595230731 Long DBT CORP US N 2 2021-06-15 Fixed 5.87500000 N N N N N N REYNOLDS GROUP ISSUER INC/LLC/SA 5.125% 07/15/2023 144A N/A 761735AT6 1000000.00000000 PA USD 1024990.00000000 0.478284584203 Long DBT CORP US N 2 2023-07-15 Fixed 5.12500000 N N N N N N T-MOBILE USA INC ESRW USD NPV REF SM# 630529 549300V2JRLO5DIFGE82 87299ATE4 200000.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N NOVELIS CORP 5.875% 09/30/2026 144A 549300G5F3W3B52WYL23 670001AC0 500000.00000000 PA USD 524911.25000000 0.244936008107 Long DBT CORP US N 2 2026-09-30 Fixed 5.87500000 N N N N N N BOYNE USA INC 7.25% 05/01/2025 144A N/A 103557AA2 1500000.00000000 PA USD 1631872.50000000 0.761470316915 Long DBT CORP US N 2 2025-05-01 Fixed 7.25000000 N N N N N N 1011778 BC ULC/NEW RED FINANCE INC 4.25% 05/15/2024 144A N/A 68245XAC3 900000.00000000 PA USD 924552.00000000 0.431417837144 Long DBT CORP CA N 2 2024-05-15 Fixed 4.25000000 N N N N N N iHeartCommunications Inc 5.25% 08/15/2027 144A 54930076J6KDZL504O62 45174HBE6 1000000.00000000 PA USD 1029975.00000000 0.480610703143 Long DBT CORP US N 2 2027-08-15 Fixed 5.25000000 N N N N N N EDISON INTERNATIONAL COM USD4.166 549300I7ROF15MAEVP56 281020107 36000.00000000 NS USD 2487600.00000000 1.160773014043 Long EC CORP US N 1 N N N H&E EQUIPMENT SERVICES INC 5.625% 09/01/2025 N/A 404030AH1 1000000.00000000 PA USD 1054165.00000000 0.491898329453 Long DBT CORP US N 2 2025-09-01 Fixed 5.62500000 N N N N N N HANESBRANDS INC 4.625% 05/15/2024 144A GX5LWVWZLL5S4W1L2F20 410345AJ1 1000000.00000000 PA USD 1054990.00000000 0.492283293972 Long DBT CORP US N 2 2024-05-15 Fixed 4.62500000 N N N N N N VERSO CORP COM USD.01 CL A 549300FODXCTQ8DGT594 92531L207 3330.00000000 NS USD 61471.80000000 0.028684196239 Long EC CORP US N 1 N N N Sirius XM Radio Inc 4.625% 07/15/2024 144A WP5O65E6BMU84LNO4227 82967NBE7 600000.00000000 PA USD 630000.00000000 0.293972905148 Long DBT CORP US N 2 2024-07-15 Fixed 4.62500000 N N N N N N BIRCH PERMIAN HOLDINGS INC COM USD NPV *Put option premium/Backstop* 5493008GXCEAUIZGCH60 09075C104 3694.00000000 NS USD 35093.00000000 0.016375224064 Long EC CORP US N 2 N N N HALCON RESOURCES CORP WTS EXP 10/08/2020 CL A 3XHTN2NNIMMPORDAMJ28 40537Q134 583.00000000 OU Warrants USD 2222.17000000 0.001036917096 Long CORP US N 3 N N N INFOR US INC 6.50% 05/15/2022 CIOT8TLNSHRE7MIBDR09 45672NAG6 1700000.00000000 PA USD 1736198.10000000 0.810151110111 Long DBT CORP US N 2 2022-05-15 Fixed 6.50000000 N N N N N N Cheniere Energy Partners LP 5.25% 10/01/2025 5493005UEC8AZ34LDV29 16411QAB7 1200000.00000000 PA USD 1238988.00000000 0.578141113974 Long DBT CORP US N 2 2025-10-01 Fixed 5.25000000 N N N N N N WELLCARE HEALTH PLANS INC 5.25% 04/01/2025 529900JCT1MMTWHZ5P23 94946TAC0 1100000.00000000 PA USD 1153614.00000000 0.538303585714 Long DBT CORP US N 2 2025-04-01 Fixed 5.25000000 N N N N N N CLOUD CRANE LLC 10.125% 08/01/2024 144A N/A 18911YAA3 300000.00000000 PA USD 310497.00000000 0.144885246237 Long DBT CORP US N 2 2024-08-01 Fixed 10.12500000 N N N N N N Sunoco LP / Sunoco Finance Corp 4.875% 01/15/2023 N/A 86765LAJ6 700000.00000000 PA USD 717790.50000000 0.334938029480 Long DBT CORP US N 2 2023-01-15 Fixed 4.87500000 N N N N N N ALLIANT ENERGY CORP COM USD.01 5493009ML300G373MZ12 018802108 80000.00000000 NS USD 4240000.00000000 1.978484314014 Long EC CORP US N 1 N N N Archrock Partners LP / Archrock Partners Finance Corp 6.875% 04/01/2027 144A N/A 03959KAA8 400000.00000000 PA USD 412771.00000000 0.192608714334 Long DBT CORP US N 2 2027-04-01 Fixed 6.87500000 N N N N N N REYNOLDS GROUP ISSUER INC/LLC/SA 5.75% 10/15/2020 N/A 761735AP4 484553.85000000 PA USD 485741.01000000 0.226658247395 Long ABS-O CORP US N 2 2020-10-15 Fixed 5.75000000 N N N N N N Amplify Energy Corp WTS EXP 04/21/2020 J0TW5YQRAZXYN7VEU787 03212B111 2365.00000000 OU Warrants USD 0.00000000 0.000000 Long CORP US N 3 N N N SANCHEZ ENERGY CORP 6.125% 01/15/2023 *DEFAULT* 549300SB0HTIM17TVR61 79970YAD7 100000.00000000 PA USD 4000.00000000 0.001866494635 Long DBT CORP US N 2 2023-01-15 None 6.12500000 Y N N N N N Teva Pharmaceutical Finance Netherlands III BV 7.125% 01/31/2025 144A 5493004T21MOAFINJP35 88167AAM3 900000.00000000 PA USD 918000.00000000 0.428360518930 Long DBT CORP NL N 2 2025-01-31 Fixed 7.12500000 N N N N N N CMS ENERGY CORP COM USD.01 549300IA9XFBAGNIBW29 125896100 90000.00000000 NS USD 5517000.00000000 2.574362726513 Long EC CORP US N 1 N N N GOLDEN NUGGET INC 6.75% 10/15/2024 144A N/A 38113YAE9 1100000.00000000 PA USD 1138489.00000000 0.531245902872 Long DBT CORP US N 2 2024-10-15 Fixed 6.75000000 N N N N N N Univar Solutions USA Inc 5.125% 12/01/2027 144A N/A 91337CAA4 500000.00000000 PA USD 512600.00000000 0.239191287585 Long DBT CORP US N 2 2027-12-01 Fixed 5.12500000 N N N N N N TENET HEALTHCARE CORP 8.125% 04/01/2022 0W9AIBT6U6ADJ2I8HK17 88033GCE8 1000000.00000000 PA USD 1095000.00000000 0.510952906567 Long DBT CORP US N 2 2022-04-01 Fixed 8.12500000 N N N N N N SPRINT SPECTRUM CO LLC / SPRINT SPECTRUM CO II LLC / SP 4.738% 09/20/2029 144A N/A 85208NAD2 1300000.00000000 PA USD 1382290.00000000 0.645009217551 Long ABS-O CORP US N 2 2025-03-20 Fixed 4.73800000 N N N N N N Chaparral Energy Inc COM USD 0.01 CL A V5IUQSDP5WPR92NJWH73 15942R208 5868.00000000 NS USD 6337.44000000 0.002957199441 Long EC CORP US N 1 N N N JAGUAR HOLDING CO II/PHARMACEUTICAL PRODUCT DEVE 6.375% 08/01/2023 144A N/A 47010DAA8 700000.00000000 PA USD 726243.00000000 0.338882165958 Long DBT CORP US N 2 2023-08-01 Fixed 6.37500000 N N N N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-37 10/17/2044 2019-37 PT 144A N/A 21054QAA1 957118.92000000 PA USD 910755.70000000 0.424980157157 Long LON CORP US Y 2 2044-10-17 Floating 20.088366 N N N N N N WellCare Health Plans Inc 5.375% 08/15/2026 144A 529900JCT1MMTWHZ5P23 94946TAD8 500000.00000000 PA USD 533661.25000000 0.249018965123 Long DBT CORP US N 2 2026-08-15 Fixed 5.37500000 N N N N N N SEMPRA ENERGY COM USD NPV PBBKGKLRK5S5C0Y4T545 816851109 45000.00000000 NS USD 6627150.00000000 3.092384981514 Long EC CORP US N 1 N N N CALIFORNIA RESOURCES CORP 5.50% 09/15/2021 5493003Q8F0T4F4YMR48 13057QAD9 10000.00000000 PA USD 2650.00000000 0.001236552696 Long DBT CORP US N 2 2021-09-15 Fixed 5.50000000 N N N N N N DISH DBS CORP 7.75% 07/01/2026 N/A 25470XAY1 1100000.00000000 PA USD 1141250.00000000 0.532534250794 Long DBT CORP US N 2 2026-07-01 Fixed 7.75000000 N N N N N N AMERICAN ELECTRIC POWER CO INC COM USD6.5 1B4S6S7G0TW5EE83BO58 025537101 65000.00000000 NS USD 5937750.00000000 2.770694631023 Long EC CORP US N 1 N N N WEC ENERGY GROUP INC COM USD.01 549300IGLYTZUK3PVP70 92939U106 35000.00000000 NS USD 3102750.00000000 1.447816557855 Long EC CORP US N 1 N N N Party City Holdings Inc 6.625% 08/01/2026 144A 5493005PYM1JS6EZN307 702150AD5 1700000.00000000 PA USD 1023948.25000000 0.477798479006 Long DBT CORP US N 2 2026-08-01 Fixed 6.62500000 N N N N N N MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 5.25% 08/01/2026 N/A 55342UAG9 300000.00000000 PA USD 319509.75000000 0.149090808620 Long DBT CORP US N 2 2026-08-01 Fixed 5.25000000 N N N N N N CHENIERE CORPUS CHRISTI HLDGS LLC 7.00% 06/30/2024 549300I7CIEWU1BBLQ53 16412XAD7 600000.00000000 PA USD 689904.00000000 0.321925528815 Long DBT CORP US N 2 2024-06-30 Fixed 7.00000000 N N N N N N GOLDEN NUGGET INC 8.75% 10/01/2025 144A N/A 38113YAC3 600000.00000000 PA USD 637494.00000000 0.297469782848 Long DBT CORP US N 2 2025-10-01 Fixed 8.75000000 N N N N N N NORTHWEST ACQUISITIONS ULC / DOMINION FINCO INC 7.125% 11/01/2022 144A N/A 66727WAA0 400000.00000000 PA USD 262000.00000000 0.122255398649 Long DBT CORP CA N 2 2022-11-01 Fixed 7.12500000 N N N N N N SCE Trust II PRF USD 5.10% *SCE G* N/A 78407R204 50000.00000000 NS USD 1216500.00000000 0.567647681131 Long EP CORP US N 1 N N N Roan Resources Inc COM USD 0.0010 N/A 769755109 5272.00000000 NS USD 8013.44000000 0.003739260693 Long EC CORP US N 1 N N N DOWNSTREAM DEV AUTH OF QUAPAW TRIBE OF THE OKLAH 10.50% 02/15/2023 144A 549300NM30NX0VZ5ZB32 26112TAJ5 1500000.00000000 PA USD 1575622.50000000 0.735222736098 Long DBT CORP US N 2 2023-02-15 Fixed 10.50000000 N N N N N N SEALED AIR CORP 5.50% 09/15/2025 144A Q0M0CZB4YN6JZ65WXI09 81211KAX8 200000.00000000 PA USD 219083.00000000 0.102229311077 Long DBT CORP US N 2 2025-09-15 Fixed 5.50000000 N N N N N N Consumer Loan Underlying Bond Credit Trust 2019-SLCT5 FRN 09/15/2044 2019-S5 PT 144A N/A 21055CAA1 890222.00000000 PA USD 811298.83000000 0.378571228569 Long LON CORP US Y 2 2044-09-15 Variable 18.85 N N N N N N MARTIN MIDSTREAM PARTNERS LP/MARTIN MIDSTREAM FI 7.25% 02/15/2021 N/A 573334AD1 900000.00000000 PA USD 812772.00000000 0.379258644544 Long DBT CORP US N 2 2021-02-15 Fixed 7.25000000 N N N N N N ENBRIDGE INC ORD USD NPV 98TPTUM4IVMFCZBCUR27 29250N105 39360.00000000 NS USD 1495680.00000000 0.697919674241 Long EC CORP CA N 1 N N N Prestige Brands Inc 5.125% 01/15/2028 144A 549300JBVP4J6D42I235 74112BAL9 300000.00000000 PA USD 307875.00000000 0.143661759004 Long DBT CORP US N 2 2028-01-15 Fixed 5.12500000 N N N N N N Studio City Finance Ltd 7.25% 02/11/2024 144A 254900D6R731QAUIG324 86389QAB8 1300000.00000000 PA USD 1369862.00000000 0.639210018718 Long DBT CORP VG N 2 2024-02-11 Fixed 7.25000000 N N N N N N Springleaf Finance Corp 6.625% 01/15/2028 5493008I795YYBFWFU90 85172FAQ2 700000.00000000 PA USD 775125.75000000 0.361692013623 Long DBT CORP US N 2 2028-01-15 Fixed 6.62500000 N N N N N N SANCHEZ ENERGY CORP 7.75% 06/15/2021 *DEFAULT* 549300SB0HTIM17TVR61 79970YAB1 800000.00000000 PA USD 32000.00000000 0.014931957086 Long DBT CORP US N 2 2021-06-15 None 7.75000000 Y N N N N N HALCON RESOURCES CORP WTS EXP 10/08/2022 CL B 3XHTN2NNIMMPORDAMJ28 40537Q126 728.00000000 OU Warrants USD 2275.73000000 0.001061909459 Long CORP US N 3 N N N CCO Holdings LLC / CCO Holdings Capital Corp 5.375% 06/01/2029 144A N/A 1248EPCB7 1000000.00000000 PA USD 1073775.00000000 0.501048819405 Long DBT CORP US N 2 2029-06-01 Fixed 5.37500000 N N N N N N QEP RESOURCES INC 5.375% 10/01/2022 Q6JQDZPXKEDQKVK58165 74733VAB6 1400000.00000000 PA USD 1372436.80000000 0.640411481315 Long DBT CORP US N 2 2022-10-01 Fixed 5.37500000 N N N N N N DOWNSTREAM DEV AUTH OF QUAPAW TRIBE OF THE OKLAH ESCROW ACCOUNT REF SM#683419 549300NM30NX0VZ5ZB32 261ESCAA5 1500000.00000000 NS USD 18750.00000000 0.008749193605 Long EC CORP US N 3 N N N VISTRA ENERGY CORP ESCROW ACCOUNT USD NPV REF SM # 492176 549300KP43CPCUJOOG15 882ESCAM8 700000.00000000 NS USD 1400.00000000 0.000653273122 Long EC CORP US N 2 N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-26 FRN 08/15/2044 144A N/A 21055TAA4 1030933.53000000 PA USD 957997.15000000 0.447024135411 Long LON CORP US Y 2 2044-08-15 Variable 20.000001 N N Y N N N Kaiser Aluminum Corp 4.625% 03/01/2028 144A N/A 483007AJ9 500000.00000000 PA USD 514450.00000000 0.240054541354 Long DBT CORP US N 2 2028-03-01 Fixed 4.62500000 N N N N N N EXELON CORP COM NPV 3SOUA6IRML7435B56G12 30161N101 80000.00000000 NS USD 3552000.00000000 1.657447236646 Long EC CORP US N 1 N N N CSC HOLDINGS LLC 6.75% 11/15/2021 3HG2WD2W22M120IUNG49 126307AF4 700000.00000000 PA USD 754950.00000000 0.352277531336 Long DBT CORP US N 2 2021-11-15 Fixed 6.75000000 N N N N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-SLCT6 FRN 10/17/2044 144A 2019-S6 PT N/A 21056AAA4 834712.50000000 PA USD 773957.37000000 0.361146819872 Long LON CORP US Y 2 2044-10-17 Variable 11.902474 N N N N N N SIRIUS XM RADIO INC 5.375% 04/15/2025 144A WP5O65E6BMU84LNO4227 82967NAU2 700000.00000000 PA USD 726243.00000000 0.338882165958 Long DBT CORP US N 2 2025-04-15 Fixed 5.37500000 N N N N N N Live Nation Entertainment Inc 4.75% 10/15/2027 144A 5493007B9BM9ZXJINO78 538034AR0 600000.00000000 PA USD 619515.00000000 0.289080356084 Long DBT CORP US N 2 2027-10-15 Fixed 4.75000000 N N N N N N DISH DBS CORP 5.875% 07/15/2022 N/A 25470XAJ4 700000.00000000 PA USD 733245.10000000 0.342149511480 Long DBT CORP US N 2 2022-07-15 Fixed 5.87500000 N N N N N N WEATHERFORD INTERNATIONAL LTD/BERMUDA 7.75% 06/15/2021 *DEFAULT* 549300A2JKMG5PGOGF82 947075AJ6 600000.00000000 PA USD 157500.00000000 0.073493226287 Long DBT CORP BM N 2 2021-06-15 None 7.75000000 Y N N N N N Aker BP ASA 4.75% 06/15/2024 144A 549300NFTY73920OYK69 00973RAD5 500000.00000000 PA USD 522500.00000000 0.243810861809 Long DBT CORP NO N 2 2024-06-15 Fixed 4.75000000 N N N N N N VERTIV GROUP CORP 9.25% 10/15/2024 144A 549300ZT8RQ5VK10E643 220517AA4 1700000.00000000 PA USD 1674500.00000000 0.781361316938 Long DBT CORP US Y 2 2024-10-15 Fixed 9.25000000 N N N N N N FMG RESOURCES AUGUST 2006 PTY LTD 4.75% 05/15/2022 144A 549300EFD6S2NFE9D745 30251GAU1 800000.00000000 PA USD 827000.00000000 0.385897765964 Long DBT CORP AU N 2 2022-05-15 Fixed 4.75000000 N N N N N N Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer 6.75% 10/15/2027 144A N/A 01883LAA1 1800000.00000000 PA USD 1907680.50000000 0.890168855047 Long DBT CORP US N 2 2027-10-15 Fixed 6.75000000 N N N N N N Gray Television Inc 7% 05/15/2027 144A 529900TM5726KDN7UU35 389284AA8 500000.00000000 PA USD 554911.25000000 0.258934717876 Long DBT CORP US N 2 2027-05-15 Fixed 7.00000000 N N N N N N BBA US Holdings Inc 5.375% 05/01/2026 144A 213800CSNQ87U1MC8N11 05545MAA0 500000.00000000 PA USD 526901.25000000 0.245864589188 Long DBT CORP US N 2 2026-05-01 Fixed 5.37500000 N N N N N N DAE FUNDING LLC 4.50% 08/01/2022 144A 635400SZTPQL3Y1P2C76 23371DAA2 700000.00000000 PA USD 716625.00000000 0.334394179606 Long DBT CORP US N 2 2022-08-01 Fixed 4.50000000 N N N N N N Tenet Healthcare Corp 6.25% 02/01/2027 144A 0W9AIBT6U6ADJ2I8HK17 88033GCX6 1000000.00000000 PA USD 1071250.00000000 0.499870594667 Long DBT CORP US N 2 2027-02-01 Fixed 6.25000000 N N N N N N Rain CII Carbon LLC / CII Carbon Corp 7.25% 04/01/2025 144A N/A 75079RAC2 900000.00000000 PA USD 872991.00000000 0.407358254664 Long DBT CORP US N 2 2025-04-01 Fixed 7.25000000 N N N N N N Wynn Resorts Finance LLC / Wynn Resorts Capital Corp 5.125% 10/01/2029 144A N/A 983133AA7 700000.00000000 PA USD 742437.50000000 0.346438902803 Long DBT CORP US N 2 2029-10-01 Fixed 5.12500000 N N N N N N 24 HOUR FITNESS WORLDWIDE INC 8.00% 06/01/2022 144A N/A 90132BAA5 1800000.00000000 PA USD 877500.00000000 0.409462260742 Long DBT CORP US N 2 2022-06-01 Fixed 8.00000000 N N N N N N VIRGIN MEDIA SECURED FINANCE PLC 5.50% 08/15/2026 144A 213800X3RLP4NOTPY579 92769XAM7 200000.00000000 PA USD 210250.00000000 0.098107624297 Long DBT CORP GB N 2 2026-08-15 Fixed 5.50000000 N N N N N N ASHTON WOODS USA LLC 6.75% 08/01/2025 144A N/A 045086AF2 1500000.00000000 PA USD 1523125.05000000 0.710726183893 Long DBT CORP US N 2 2025-08-01 Fixed 6.75000000 N N N N N N Clearway Energy Operating LLC/DE 5.00% 09/15/2026 549300Z3NFMM54NWBB87 62943WAE9 700000.00000000 PA USD 726493.25000000 0.338998938528 Long DBT CORP US N 2 2026-09-15 Fixed 5.00000000 N N N N N N WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.125% 09/15/2020 *DEFAULT* 549300A2JKMG5PGOGF82 94707VAA8 200000.00000000 PA USD 53000.00000000 0.024731053925 Long DBT CORP BM N 2 2020-09-15 None 5.12500000 Y N N N N N B&G FOODS INC 5.25% 04/01/2025 549300TRW1LZMDJZAQ78 05508RAE6 1200000.00000000 PA USD 1215000.00000000 0.566947745643 Long DBT CORP US N 2 2025-04-01 Fixed 5.25000000 N N N N N N EVERGY INC COM USD NPV 549300PGTHDQY6PSUI61 30034W106 80000.00000000 NS USD 5061600.00000000 2.361862312220 Long EC CORP US N 1 N N N MSCI Inc 5.375% 05/15/2027 144A 549300HTIN2PD78UB763 55354GAF7 500000.00000000 PA USD 536786.25000000 0.250477164057 Long DBT CORP US N 2 2027-05-15 Fixed 5.37500000 N N N N N N VERSO CORP WTS EXP 07/25/2023 549300FODXCTQ8DGT594 92531L116 350.00000000 OU Warrants USD 1058.75000000 0.000494037798 Long CORP US N 2 N N N Altice Luxembourg SA 10.5% 05/15/2027 144A 2221006ZDZREFLFIFQ42 02156DAA7 1700000.00000000 PA USD 1925250.00000000 0.898367199423 Long DBT CORP LU N 2 2027-05-15 Fixed 10.50000000 N N N N N N CALIFORNIA RESOURCES CORP 8.00% 12/15/2022 144A 5493003Q8F0T4F4YMR48 13057QAG2 515000.00000000 PA USD 146775.00000000 0.068488687544 Long DBT CORP US N 2 2022-12-15 Fixed 8.00000000 N N N N N N BHP Group PLC SPONSORED ADR 549300C116EOWV835768 05545E209 25185.00000000 NS USD 1118717.70000000 0.522020146523 Long EC CORP GB N 1 N N N Centene Corp 4.625% 12/15/2029 144A 549300Z7JJ4TQSQGT333 15135BAS0 200000.00000000 PA USD 210250.00000000 0.098107624297 Long DBT CORP US N 2 2029-12-15 Fixed 4.62500000 N N N N N N Cheniere Energy Partners LP 4.5% 10/01/2029 144A 5493005UEC8AZ34LDV29 16411QAE1 1200000.00000000 PA USD 1209390.00000000 0.564329986916 Long DBT CORP US N 2 2029-10-01 Fixed 4.50000000 N N N N N N CRESTWOOD MIDSTREAM PARTNERS LP/FINANCE CORP 6.25% 04/01/2023 N/A 226373AL2 500000.00000000 PA USD 502495.00000000 0.234476055511 Long DBT CORP US N 2 2023-04-01 Fixed 6.25000000 N N N N N N JPMORGAN CHASE & CO 5.00% 01/01/2168 PERP *FORMERLY FIXED* 8I5DZWZKVSZI1NUHU748 48127FAA1 1100000.00000000 PA USD 1105775.00000000 0.515980776492 Long DBT CORP US N 2 N/A Variable 5.41863000 N N N N N N OWENS-BROCKWAY GLASS CONTAINER INC 5.00% 01/15/2022 144A V2UQUCDZJ9WY98W8QU33 690872AA4 1000000.00000000 PA USD 1037493.00000000 0.484118779811 Long DBT CORP US N 2 2022-01-15 Fixed 5.00000000 N N N N N N TALEN ENERGY SUPPLY LLC 6.50% 06/01/2025 K5K33XN0PQAU1XF7NN66 87422VAA6 2100000.00000000 PA USD 1590750.00000000 0.742281585499 Long DBT CORP US N 2 2025-06-01 Fixed 6.50000000 N N N N N N Manitowoc Co Inc/The 9% 04/01/2026 144A 2RTSLGQ89VMY18RHX631 563571AL2 1000000.00000000 PA USD 1017372.50000000 0.474730078481 Long DBT CORP US N 2 2026-04-01 Fixed 9.00000000 N N N N N N HALCON RESOURCES CORP WTS EXP 10/08/2022 CL C 3XHTN2NNIMMPORDAMJ28 40537Q142 937.00000000 OU Warrants USD 2235.16000000 0.001042978537 Long CORP US N 3 N N N WEEKLEY HOMES LLC/WEEKLEY FINANCE CORP 6.625% 08/15/2025 N/A 94856UAA9 1100000.00000000 PA USD 1127956.50000000 0.526331189184 Long DBT CORP US N 2 2025-08-15 Fixed 6.62500000 N N N N N N DTE ENERGY CO COM NPV 549300IX8SD6XXD71I78 233331107 30000.00000000 NS USD 3748200.00000000 1.748998798535 Long EC CORP US N 1 N N N Bausch Health Americas Inc 9.25% 04/01/2026 144A KOO0397YRO83WY5MGD97 91911XAV6 1400000.00000000 PA USD 1606129.00000000 0.749457790750 Long DBT CORP US N 2 2026-04-01 Fixed 9.25000000 N N N N N N TENNANT CO 5.625% 05/01/2025 JYAIRLT8DVP6DP8UT336 880345AB9 1600000.00000000 PA USD 1672664.00000000 0.780504595900 Long DBT CORP US N 2 2025-05-01 Fixed 5.62500000 N N N N N N WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A N/A 983130AV7 1300000.00000000 PA USD 1389362.00000000 0.648309180067 Long DBT CORP US N 2 2025-03-01 Fixed 5.50000000 N N N N N N Cheniere Energy Partners LP 5.625% 10/01/2026 5493005UEC8AZ34LDV29 16411QAD3 700000.00000000 PA USD 738047.80000000 0.344390564927 Long DBT CORP US N 2 2026-10-01 Fixed 5.62500000 N N N N N N COMPRESSCO PARTNERS LP/FINANCE CORP 7.25% 08/15/2022 N/A 20467BAB5 1300000.00000000 PA USD 1163500.00000000 0.542916627206 Long DBT CORP US N 2 2022-08-15 Fixed 7.25000000 N N N N N N HALCON RESOURCES CORP COM USD NPV 3XHTN2NNIMMPORDAMJ28 40537Q803 121.00000000 NS USD 2404.43000000 0.001121963924 Long EC CORP US N 3 N N N POST HOLDINGS INC 5.00% 08/15/2026 144A JM1I5YUAURL6DC8N1468 737446AK0 800000.00000000 PA USD 841842.00000000 0.392823394311 Long DBT CORP US N 2 2026-08-15 Fixed 5.00000000 N N N N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-42 FRN 11/15/2044 144A 2019-42 N/A 21055YAA3 898822.75000000 PA USD 854749.34000000 0.398846264529 Long LON CORP US Y 2 2044-11-15 Variable 24.621276 N N N N N N PUBLIC SERVICE ENTERPRISE GROUP INC COM NPV PUSS41EMO3E6XXNV3U28 744573106 45000.00000000 NS USD 2668950.00000000 1.245395214596 Long EC CORP US N 1 N N N Consumer Loan Underlying Bond Credit Trust 2019-SLCT4 FRN 08/15/2044 2019-S4 PT 144A N/A 21054GAA3 943985.03000000 PA USD 879795.56000000 0.410533423348 Long LON CORP US Y 2 2044-08-15 Variable 12.075627 N N N N N N United Rentals North America Inc 5.25% 01/15/2030 NGIZXNT70J2LYT3FBI09 911365BL7 1000000.00000000 PA USD 1065025.00000000 0.496965862389 Long DBT CORP US N 2 2030-01-15 Fixed 5.25000000 N N N N N N Chaparral Energy Inc COM USD NPV CL A 144A V5IUQSDP5WPR92NJWH73 15942R406 214.00000000 NS USD 231.12000000 0.000107846060 Long EC CORP US N 1 N N N WEST CORP 8.50% 10/15/2025 144A 5493005Z5DB0O5S30R71 68163PAA2 1800000.00000000 PA USD 1444500.00000000 0.674037875375 Long DBT CORP US N 2 2025-10-15 Fixed 8.50000000 N N N N N N T-MOBILE USA INC ESRW USD NPV REF SM#564912 549300V2JRLO5DIFGE82 87299ATP9 200000.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N PARK AEROSPACE HOLDINGS LTD 5.50% 02/15/2024 144A 635400CPI3EOIFF6OC33 70014LAB6 300000.00000000 PA USD 329046.00000000 0.153540648488 Long DBT CORP KY N 2 2024-02-15 Fixed 5.50000000 N N N N N N JELD-WEN INC 4.875% 12/15/2027 144A 549300XWE6NM0N1HFW16 475795AD2 300000.00000000 PA USD 302250.00000000 0.141037000922 Long DBT CORP US N 2 2027-12-15 Fixed 4.87500000 N N N N N N BLOCK COMMUNICATIONS INC 6.875% 02/15/2025 144A M5G68A9OHJWIL4SFC742 093645AH2 300000.00000000 PA USD 313122.00000000 0.146110133342 Long DBT CORP US N 2 2025-02-15 Fixed 6.87500000 N N N N N N AKER BP ASA 5.875% 03/31/2025 144A 549300NFTY73920OYK69 00973RAC7 500000.00000000 PA USD 528488.75000000 0.246605354247 Long DBT CORP NO N 2 2025-03-31 Fixed 5.87500000 N N N N N N T-MOBILE USA INC 6.00% 04/15/2024 549300V2JRLO5DIFGE82 87264AAQ8 200000.00000000 PA USD 207415.00000000 0.096784746224 Long DBT CORP US N 2 2024-04-15 Fixed 6.00000000 N N N N N N DUKE ENERGY CORP COM USD.001 I1BZKREC126H0VB1BL91 26441C204 46060.00000000 NS USD 4061110.20000000 1.895010100986 Long EC CORP US N 1 N N N WEATHERFORD INTERNATIONAL LTD/BERMUDA 4.50% 04/15/2022 *DEFAULT* 549300A2JKMG5PGOGF82 94707VAC4 400000.00000000 PA USD 106000.00000000 0.049462107850 Long DBT CORP BM N 2 2022-04-15 None 4.50000000 Y N N N N N Horizon Pharma USA Inc 5.5% 08/01/2027 144A N/A 44055PAA4 1500000.00000000 PA USD 1583216.25000000 0.738766159508 Long DBT CORP US N 2 2027-08-01 Fixed 5.50000000 N N N N N N SOUTH32 LTD UNSPONSORED ADR 213800LAZNPXSBKVHR17 84473L105 10074.00000000 NS USD 91774.14000000 0.042823985005 Long EC CORP AU N 1 N N N Digicel Ltd 6.75% 03/01/2023 144A N/A 25380QAH2 300000.00000000 PA USD 152002.50000000 0.070927962721 Long DBT CORP BM N 2 2023-03-01 Fixed 6.75000000 N N N N N N LAMB WESTON HOLDINGS INC 4.625% 11/01/2024 144A 5493005SMYID1D2OY946 513272AA2 700000.00000000 PA USD 741118.00000000 0.345823192885 Long DBT CORP US N 2 2024-11-01 Fixed 4.62500000 N N N N N N Viper Energy Partners LP 5.375% 11/01/2027 144A 5299009LINL232255G03 92763MAA3 400000.00000000 PA USD 416994.00000000 0.194579266046 Long DBT CORP US N 2 2027-11-01 Fixed 5.37500000 N N N N N N Riviera Resources Inc COM USD 0.01 N/A 76964R104 5042.00000000 NS USD 63277.10000000 0.029526591930 Long EC CORP US N 1 N N N MEDNAX Inc 6.25% 01/15/2027 144A N/A 58502BAC0 1600000.00000000 PA USD 1632040.00000000 0.761548476378 Long DBT CORP US N 2 2027-01-15 Fixed 6.25000000 N N N N N N TransDigm Inc 6.25% 03/15/2026 144A 88Q84GB3X55CF5OC7582 893647BE6 1700000.00000000 PA USD 1828560.80000000 0.853249731137 Long DBT CORP US N 2 2026-03-15 Fixed 6.25000000 N N N N N N Nexstar Broadcasting Inc 5.625% 07/15/2027 144A 5493006PK6I4I2OOT688 65343HAA9 1000000.00000000 PA USD 1055702.50000000 0.492615763329 Long DBT CORP US N 2 2027-07-15 Fixed 5.62500000 N N N N N N Bausch Health Cos Inc 7.00% 03/15/2024 144A B3BS7ACMDUWISF18KY76 91911KAK8 200000.00000000 PA USD 209748.00000000 0.097873379220 Long DBT CORP CA N 2 2024-03-15 Fixed 7.00000000 N N N N N N NETFLIX INC 5.875% 02/15/2025 549300Y7VHGU0I7CE873 64110LAL0 800000.00000000 PA USD 878200.00000000 0.409788897303 Long DBT CORP US N 2 2025-02-15 Fixed 5.87500000 N N N N N N TOLL BROS FINANCE CORP 5.625% 01/15/2024 N/A 88947EAQ3 700000.00000000 PA USD 768540.50000000 0.358619180173 Long DBT CORP US N 2 2024-01-15 Fixed 5.62500000 N N N N N N POST HOLDINGS INC 5.625% 01/15/2028 144A JM1I5YUAURL6DC8N1468 737446AN4 300000.00000000 PA USD 320946.75000000 0.149761346818 Long DBT CORP US N 2 2028-01-15 Fixed 5.62500000 N N N N N N Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-SLCT7 12/15/2044 2019-S7 PT 144A N/A 21050KAA8 723784.00000000 PA USD 668841.41000000 0.312097226001 Long LON CORP US Y 2 2044-12-15 Variable 13.660000 N N N N N N CATALENT PHARMA SOLUTIONS INC 4.875% 01/15/2026 144A 549300HALRZ339MSTH85 14879EAD0 700000.00000000 PA USD 723868.25000000 0.337774051424 Long DBT CORP US N 2 2026-01-15 Fixed 4.87500000 N N N N N N JELD-WEN INC 4.625% 12/15/2025 144A 549300XWE6NM0N1HFW16 475795AC4 300000.00000000 PA USD 303750.00000000 0.141736936410 Long DBT CORP US N 2 2025-12-15 Fixed 4.62500000 N N N N N N CSC HOLDINGS LLC 5.50% 04/15/2027 144A 3HG2WD2W22M120IUNG49 126307AQ0 500000.00000000 PA USD 533036.25000000 0.248727325336 Long DBT CORP US N 2 2027-04-15 Fixed 5.50000000 N N N N N N Qorvo Inc 5.5% 07/15/2026 254900YAUJV2EUEVBR11 74736KAF8 400000.00000000 PA USD 426249.60000000 0.198898147984 Long DBT CORP US N 2 2026-07-15 Fixed 5.50000000 N N N N N N NEWPAGE CORP ESCROW ACCOUNT 11.375% 12/31/14 *REF SM#459991* NO9X1VSZ0FTLOJMCQD79 651715AK0 1200000.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 3 N N N Stars Group Holdings BV / Stars Group US Co-Borrower LLC 7% 07/15/2026 144A N/A 85572NAA6 1600000.00000000 PA USD 1731716.00000000 0.808059656209 Long DBT CORP NL N 2 2026-07-15 Fixed 7.00000000 N N N N N N Avolon Holdings Funding Ltd 5.25% 05/15/2024 144A 635400ZRKEX9L1BKCH30 05401AAD3 500000.00000000 PA USD 544757.50000000 0.254196737899 Long DBT CORP KY N 2 2024-05-15 Fixed 5.25000000 N N N N N N CCO HOLDINGS LLC/CAPITAL CORP 5.75% 02/15/2026 144A N/A 1248EPBM4 700000.00000000 PA USD 740972.75000000 0.345755415798 Long DBT CORP US N 2 2026-02-15 Fixed 5.75000000 N N N N N N PETSMART INC 5.875% 06/01/2025 144A N/A 716768AC0 251000.00000000 PA USD 246607.50000000 0.115072893978 Long DBT CORP US N 2 2025-06-01 Fixed 5.87500000 N N N N N N Digicel Ltd 6.00% 04/15/2021 144A N/A 25380QAG4 500000.00000000 PA USD 365000.00000000 0.170317635522 Long DBT CORP BM N 2 2021-04-15 Fixed 6.00000000 N N N N N N POLARIS INTERMEDIATE CORP 8.50%/8.50% 12/01/2022 TOGG PIK 144A N/A 73107GAA1 400000.00000000 PA USD 332897.40000000 0.155337802848 Long DBT CORP US N 2 2022-12-01 Fixed 8.50000000 N N N N N N PPL CORP COM USD.01 9N3UAJSNOUXFKQLF3V18 69351T106 24500.00000000 NS USD 833735.00000000 0.389040476307 Long EC CORP US N 1 N N N Crown Americas LLC / Crown Americas Capital Corp VI 4.75% 02/01/2026 N/A 228187AB6 700000.00000000 PA USD 736118.25000000 0.343490191246 Long DBT CORP US N 2 2026-02-01 Fixed 4.75000000 N N N N N N Chesapeake Energy Corp 7.5% 10/01/2026 X2MT1W32SPAZ9WSKLE78 165167DB0 1500000.00000000 PA USD 746771.25000000 0.348461133085 Long DBT CORP US N 2 2026-10-01 Fixed 7.50000000 N N N N N N INTERGEN NV 7.00% 06/30/2023 144A 549300E3XRGX2JMPEC79 45867XAG9 400000.00000000 PA USD 390000.00000000 0.181983226996 Long DBT CORP NL N 2 2023-06-30 Fixed 7.00000000 N N N N N N Camelot Finance SA 4.5% 11/01/2026 144A N/A 13323AAB6 900000.00000000 PA USD 918743.40000000 0.428707406958 Long DBT CORP LU N 2 2026-11-01 Fixed 4.50000000 N N N N N N CDW LLC/FINANCE CORP 5.00% 09/01/2025 N/A 12513GBC2 700000.00000000 PA USD 731493.00000000 0.341331940167 Long DBT CORP US N 2 2025-09-01 Fixed 5.00000000 N N N N N N TEGNA INC 5.125% 07/15/2020 549300YC5EDBGX85AO10 364725BA8 412000.00000000 PA USD 413442.00000000 0.192921818810 Long DBT CORP US N 2 2020-07-15 Fixed 5.12500000 N N N N N N Digicel Group Two Ltd 8.25% 09/30/2022 144A N/A 25382FAB7 437000.00000000 PA USD 111070.11000000 0.051827941129 Long DBT CORP BM N 2 2022-09-30 Fixed 8.25000000 N N N N N N HighPoint Operating Corp 8.75% 06/15/2025 XE2KCQGOGYZ847CKN141 06846NAF1 1700000.00000000 PA USD 1538500.00000000 0.717900499318 Long DBT CORP US N 2 2025-06-15 Fixed 8.75000000 N N N N N N Bausch Health Cos Inc 6.125% 04/15/2025 144A B3BS7ACMDUWISF18KY76 91831AAC5 400000.00000000 PA USD 416988.00000000 0.194576466304 Long DBT CORP CA N 2 2025-04-15 Fixed 6.12500000 N N N N N N Diamond Sports Group LLC / Diamond Sports Finance Co 5.375% 08/15/2026 144A N/A 25277LAA4 600000.00000000 PA USD 610124.40000000 0.284698479952 Long DBT CORP US N 2 2026-08-15 Fixed 5.37500000 N N N N N N JPMORGAN CHASE & CO 6.00% 2/1/2168 PERP 8I5DZWZKVSZI1NUHU748 48126HAA8 900000.00000000 PA USD 965551.50000000 0.450549173849 Long DBT CORP US N 2 N/A Variable 6.00000000 N N N N N N FREEPORT-MCMORAN INC COM USD 0.10 549300IRDTHJQ1PVET45 35671D857 80380.00000000 NS USD 914724.40000000 0.426832046473 Long EC CORP US N 1 N N N NAVIENT CORP 6.50% 06/15/2022 54930067J0ZNOEBRW338 63938CAF5 500000.00000000 PA USD 543510.00000000 0.253614624884 Long DBT CORP US N 2 2022-06-15 Fixed 6.50000000 N N N N N N Clearway Energy Operating LLC 5.375% 08/15/2024 549300Z3NFMM54NWBB87 62943WAB5 900000.00000000 PA USD 924750.00000000 0.431510228628 Long DBT CORP US N 2 2024-08-15 Fixed 5.37500000 N N N N N N Diamond Sports Group LLC / Diamond Sports Finance Co 6.625% 08/15/2027 144A N/A 25277LAC0 700000.00000000 PA USD 684064.50000000 0.319200679958 Long DBT CORP US N 2 2027-08-15 Fixed 6.62500000 N N N N N N Sunoco LP / Sunoco Finance Corp 6% 04/15/2027 N/A 86765LAQ0 1000000.00000000 PA USD 1061942.50000000 0.495527494961 Long DBT CORP US N 2 2027-04-15 Fixed 6.00000000 N N N N N N CSC Holdings LLC 7.5% 04/01/2028 144A 3HG2WD2W22M120IUNG49 126307AY3 300000.00000000 PA USD 338571.75000000 0.157985588807 Long DBT CORP US N 2 2028-04-01 Fixed 7.50000000 N N N N N N REYNOLDS GROUP ISSUER INC/LLC/SA 7.00% 07/15/2024 144A N/A 761735AV1 200000.00000000 PA USD 207375.00000000 0.096766081278 Long DBT CORP US N 2 2024-07-15 Fixed 7.00000000 N N N N N N UPGRADE 4002 MARKETPLACE LOANS N/A 000000000 47741.20000000 PA USD 47504.63000000 0.022166784268 Long LON CORP US N 3 2023-06-20 None 26.532674 N N N N N N WEATHERFORD INTERNATIONAL LTD/BERMUDA 8.25% 06/15/2023 *DEFAULT* 549300A2JKMG5PGOGF82 947075AK3 600000.00000000 PA USD 162000.00000000 0.075593032752 Long DBT CORP BM N 2 2023-06-15 None 8.25000000 Y N N N N N 2019-12-30 Robert Kubilis Robert Kubilis Robert Kubilis Chief Financial Officer, Chief Accounting Officer and Treasurer XXXX