First Trust High Yield Opportunities 2027 Term Fund (FTHY)
Holdings of the Fund as of 3/4/2026

Total Number of Holdings (excluding cash): 291

Security Name Identifier CUSIP Shares / Quantity Market Value Weighting Descending sort
1011778 BC / NEW RED FIN 4%, due 10/15/2030 68245XAM1 14,344,000 $13,812,946.38 2.61%
LIGHTNING POWER LLC 7.25%, due 08/15/2032 53229KAA7 10,952,000 $11,627,771.26 2.20%
BALDWIN INSUR GRP/FIN 7.125%, due 05/15/2031 05825XAA7 9,561,000 $9,714,109.86 1.84%
BUILDERS FIRSTSOURCE INC 6.75%, due 05/15/2035 12008RAT4 9,304,000 $9,639,139.37 1.82%
ONEDIGITAL BORROWER LLC Variable rate, due 07/02/2032 LX235335 9,423,929 $9,400,369.25 1.78%
PANTHER ESCROW ISSUER 7.125%, due 06/01/2031 69867RAA5 8,320,000 $8,446,773.65 1.60%
UNITED RENTALS (NORTH AMERICA) 6%, due 12/15/2029 911365BQ6 7,955,000 $8,165,902.95 1.54%
QXO BUILDING PRODUCTS INC 6.75%, due 04/30/2032 74825NAA5 7,461,000 $7,767,012.95 1.47%
ALLIANT HOLD / CO-ISSUER 6.75%, due 04/15/2028 01883LAE3 7,588,000 $7,665,132.02 1.45%
DISH NETWORK CORP 11.75%, due 11/15/2027 25470MAG4 7,058,000 $7,313,407.84 1.38%
ALLIANT HOLD / CO-ISSUER 6.75%, due 10/15/2027 01883LAA1 7,065,000 $7,072,446.50 1.34%
ACRISURE LLC / FIN INC 7.50%, due 11/06/2030 00489LAL7 6,702,000 $6,826,322.10 1.29%
TEGNA INC 4.625%, due 03/15/2028 87901JAJ4 6,614,000 $6,600,262.06 1.25%
LEIA FINCO US LLC Variable rate, due 10/09/2032 LX232016 7,026,434 $6,546,317.44 1.24%
ECHOSTAR CORP 10.75%, due 11/30/2029 278768AC0 5,849,537 $6,366,665.34 1.20%
FAIR ISAAC CORP 6%, due 05/15/2033 303250AG9 6,216,000 $6,310,697.46 1.19%
RINGCENTRAL INC 8.50%, due 08/15/2030 76680RAJ6 5,986,000 $6,273,681.17 1.19%
ATHENAHEALTH GROUP INC 6.50%, due 02/15/2030 60337JAA4 6,527,000 $6,143,705.84 1.16%
CLOUD SOFTWARE GRP INC 9%, due 09/30/2029 18912UAA0 6,234,000 $6,131,362.36 1.16%
ARDONAGH FINCO LTD 7.75%, due 02/15/2031 039853AA4 5,752,000 $5,878,469.23 1.11%
TRUIST INSURANCE HOLDING Variable rate, due 05/06/2032 LX227767 5,772,320 $5,766,922.95 1.09%
VENTURE GLOBAL PLAQUEMINES LNG LLC 7.50%, due 05/01/2033 922966AA4 5,143,000 $5,739,690.86 1.09%
GARDA WORLD SECURITY GWCN TL B 1L USD LX282317 5,418,124 $5,423,217.25 1.03%
US FOODS INC 4.625%, due 06/01/2030 90290MAE1 5,250,000 $5,209,580.78 0.98%
QUIKRETE HOLDINGS INC 6.75%, due 03/01/2033 74843PAB6 4,953,000 $5,147,613.27 0.97%
RAVEN ACQUISITION HOLDINGS 6.875%, due 11/15/2031 75420NAA1 5,260,000 $5,120,075.94 0.97%
NEXSTAR MEDIA INC 5.625%, due 07/15/2027 65343HAA9 5,067,000 $5,072,143.02 0.96%
SUNOCO LP 5.875%, due 03/15/2034 86765KAG4 5,056,000 $5,097,433.93 0.96%
MEDLINE BORROWER LP 3.875%, due 04/01/2029 62482BAA0 5,020,000 $4,926,519.98 0.93%
TALEN ENERGY SUPPLY LLC 6.50%, due 02/01/2036 87422VAN8 4,592,000 $4,711,442.51 0.89%
VETSTRATEGY CANADA HOLD INDVET TL B 1L USD LX257768 4,737,180 $4,727,705.37 0.89%
HOWDEN UK REFINANCE / US 7.25%, due 02/15/2031 44287GAA4 4,596,000 $4,661,254.01 0.88%
ALERA GROUP INTERMEDIATE Variable rate, due 05/30/2033 LX263486 4,702,000 $4,611,862.66 0.87%
CSC HOLDINGS LLC 4.50%, due 11/15/2031 126307BH9 7,469,000 $4,558,696.16 0.86%
OPAL BIDCO 6.50%, due 03/31/2032 68348BAA1 4,426,000 $4,540,487.34 0.86%
MEDLINE BORROWER LP 5.25%, due 10/01/2029 62482BAB8 4,488,000 $4,491,473.70 0.85%
SHIFT4 PAYMENTS LLC/FIN 6.75%, due 08/15/2032 82453AAB3 4,462,000 $4,406,123.77 0.83%
AHP HEALTH PARTNERS INC 5.75%, due 07/15/2029 00150LAB7 4,445,000 $4,351,484.32 0.82%
GO DADDY OPCO/FINCO 5.25%, due 12/01/2027 38016LAA3 4,210,000 $4,210,804.95 0.80%
FILTRATION GROUP CORP FILGRO TL B 1L USD LX267384 4,077,679 $4,086,181.42 0.77%
SURGERY CENTER HOLDINGS 7.25%, due 04/15/2032 86881WAF9 4,130,000 $4,083,815.04 0.77%
ALPHA GENERATION LLC 6.25%, due 01/15/2034 02073LAC5 3,902,000 $3,958,844.33 0.75%
ENERGIZER HOLDINGS INC 4.375%, due 03/31/2029 29272WAD1 4,009,000 $3,891,962.47 0.74%
FORD MOTOR COMPANY 9.625%, due 04/22/2030 345370CX6 3,369,000 $3,916,272.28 0.74%
ELASTIC NV 4.125%, due 07/15/2029 28415LAA1 4,000,000 $3,802,648.79 0.72%
TRANSDIGM INC 6.375%, due 05/31/2033 893647BY2 3,665,000 $3,746,478.01 0.71%
GEN DIGITAL INC 7.125%, due 09/30/2030 668771AL2 3,636,000 $3,710,581.63 0.70%
SNAP INC 6.875%, due 03/15/2034 83304AAM8 3,657,000 $3,651,163.06 0.69%
ALBION FINANCING 1 SARL / AGGREKO 7%, due 05/21/2030 01330AAA4 3,421,000 $3,575,642.04 0.68%
NUMERICABLE US LLC SFRFP TL B14 1L USD LX271827 3,564,569 $3,592,799.96 0.68%
EQUIPMENTSHARE.COM INC 8%, due 03/15/2033 29450YAC3 3,327,000 $3,539,685.14 0.67%
SELECT MEDICAL CORP 6.25%, due 12/01/2032 816196AV1 3,722,000 $3,563,523.97 0.67%
SINCLAIR TELEVISION GROUP 8.125%, due 02/15/2033 829259BH2 3,333,000 $3,465,370.11 0.66%
POST HOLDINGS INC 6.25%, due 02/15/2032 737446AU8 3,354,000 $3,448,789.37 0.65%
ARDAGH METAL PACKAGING 6.25%, due 01/30/2031 03969YAD0 3,304,000 $3,378,277.22 0.64%
MATTAMY GROUP CORP 6%, due 12/15/2033 57701RAQ5 3,411,000 $3,360,662.85 0.64%
PAC AVIATION INTERNATION PACDAC TL B 1L USD LX271786 3,394,245 $3,364,545.15 0.64%
PERFORMANCE FOOD GROUP INC 6.125%, due 09/15/2032 71376LAF7 3,312,000 $3,411,819.31 0.64%
VISTA MANAGEMENT HOLDING VSTJET TL B 1L USD LX260516 3,371,349 $3,381,901.33 0.64%
ZIGGO BV 4.875%, due 01/15/2030 98955DAA8 3,579,000 $3,380,657.55 0.64%
CCO HLDGS LLC/CAP CORP 7.375%, due 03/03/2031 1248EPCT8 3,219,000 $3,325,449.11 0.63%
MOLINA HEALTHCARE INC 6.25%, due 01/15/2033 60855RAM2 3,396,000 $3,341,871.50 0.63%
OSAIC HOLDINGS INC 6.75%, due 08/01/2032 00791GAB3 3,287,000 $3,338,573.03 0.63%
GRAHAM HOLDINGS CO 5.625%, due 12/01/2033 384637AC8 3,156,000 $3,152,291.71 0.60%
AVANTOR FUNDING INC 4.625%, due 07/15/2028 05352TAA7 3,153,000 $3,116,561.73 0.59%
BELRON UK FINANCE PLC 5.75%, due 10/15/2029 080782AA3 3,073,000 $3,140,999.34 0.59%
HOWDEN UK REFINANCE / US 8.125%, due 02/15/2032 44287DAA1 3,212,000 $3,095,850.68 0.59%
THE BRINK'S CO 6.75%, due 06/15/2032 109696AD6 2,999,000 $3,110,643.79 0.59%
GRAPHIC PACKAGING INTERNATIONAL 3.75%, due 02/01/2030 38869AAD9 3,239,000 $3,060,203.99 0.58%
POST HOLDINGS INC 6.375%, due 03/01/2033 737446AV6 3,018,000 $3,071,195.66 0.58%
WASTE PRO USA INC 7%, due 02/01/2033 94107JAC7 2,949,000 $3,068,077.67 0.58%
AZORRA FINANCE 6.25%, due 02/15/2034 05480AAC9 3,087,000 $3,036,605.04 0.57%
FIRSTCASH INC 4.625%, due 09/01/2028 33767DAB1 3,056,000 $3,025,181.16 0.57%
FIRSTCASH INC 6.875%, due 03/01/2032 33767DAD7 2,904,000 $3,002,733.01 0.57%
SV RNO PROPERTY OWNER 1 5.875%, due 03/01/2031 78488XAA2 2,922,000 $2,939,130.42 0.56%
UWM HOLDINGS LLC 6.25%, due 03/15/2031 903522AB6 3,092,000 $2,987,651.03 0.56%
CLOUD SOFTWARE GRP INC 8.25%, due 06/30/2032 18912UAC6 2,879,000 $2,903,036.78 0.55%
GFL ENVIRONMENTAL INC 6.75%, due 01/15/2031 36168QAQ7 2,750,000 $2,886,812.50 0.55%
IQVIA INC 6.50%, due 05/15/2030 46266TAD0 2,802,000 $2,884,076.19 0.55%
CANPACK SA/CANPACK US 3.875%, due 11/15/2029 13806CAA0 2,967,000 $2,842,447.72 0.54%
HUB INTERNATIONAL LTD 7.375%, due 01/31/2032 44332PAJ0 2,775,000 $2,847,308.73 0.54%
POST HOLDINGS INC 6.50%, due 03/15/2036 737446AY0 2,799,000 $2,843,372.63 0.54%
VENTURE GLOBAL LNG INC 8.375%, due 06/01/2031 92332YAB7 2,688,000 $2,790,509.57 0.53%
JANE STREET GRP/JSG FIN 6.75%, due 05/01/2033 47077WAE8 2,684,000 $2,767,866.95 0.52%
VENTURE GLOBAL LNG INC 9.875%, due 02/01/2032 92332YAD3 2,560,000 $2,728,192.00 0.52%
SMYRNA READY MIX CONCRETE 8.875%, due 11/15/2031 83283WAE3 2,551,000 $2,710,730.87 0.51%
MAVIS TIRE EXPRESS SERVI EOCGRO TL B 1L USD LX257807 2,622,965 $2,624,013.88 0.50%
HERC HOLDINGS INC 7.25%, due 06/15/2033 42704LAG9 2,443,000 $2,580,836.50 0.49%
STATION CASINOS LLC 4.625%, due 12/01/2031 857691AH2 2,694,000 $2,596,907.70 0.49%
GENESEE & WYOMING INC 6.25%, due 04/15/2032 371559AB1 2,466,000 $2,543,479.26 0.48%
POLARIS NEWCO LLC SLH TL B 1L USD LX195131 2,938,619 $2,528,226.13 0.48%
WAND NEWCO 3 INC 7.625%, due 01/30/2032 933940AA6 2,441,000 $2,546,016.71 0.48%
ZIPRECRUITER INC 5%, due 01/15/2030 98980BAA1 4,115,000 $2,539,116.30 0.48%
EQUIPMENTSHARE.COM INC 8.625%, due 05/15/2032 29450YAB5 2,307,000 $2,466,658.24 0.47%
MH SUB I LLC INET TL B 1L USD LX212015 3,080,907 $2,511,786.72 0.47%
DISCOVERY HOLDINGS INC 5.141%, due 03/15/2052 55903VBU6 3,812,000 $2,444,445.00 0.46%
GRAY MEDIA INC 4.75%, due 10/15/2030 389375AL0 2,974,000 $2,422,074.08 0.46%
SKOPIMA CONSILIO PARENT ADVDIS TL 1L USD LX256054 3,085,822 $2,440,252.38 0.46%
CIPHER COMPUTE LLC 7.125%, due 11/15/2030 17253NAA5 2,280,000 $2,387,153.17 0.45%
STAR PARENT INC 9%, due 10/01/2030 855170AA4 2,318,000 $2,369,137.39 0.45%
STAR PARENT INC SYNH TL B 1L USD LX216614 2,424,779 $2,370,221.73 0.45%
TRANSDIGM INC 6.625%, due 03/01/2032 893647BV8 2,281,000 $2,367,440.78 0.45%
WULF COMPUTE LLC 7.75%, due 10/15/2030 982911AA7 2,252,000 $2,387,730.33 0.45%
MAVIS TIRE EXPRESS SERVICES 6.50%, due 05/15/2029 59155LAA0 2,341,000 $2,339,975.81 0.44%
SERVICE PROPERTIES TRUST 8.875%, due 06/15/2032 81761LAE2 2,359,000 $2,344,959.20 0.44%
BUILDERS FIRSTSOURCE INC 6.375%, due 03/01/2034 12008RAS6 2,241,000 $2,293,788.98 0.43%
AMWINS GROUP INC 6.375%, due 02/15/2029 031921AC3 2,207,000 $2,237,666.27 0.42%
LogMeIn, Inc. (GoTo Group, Inc.) First Lien First Out TL LX226623 2,703,637 $2,214,724.77 0.42%
OPAL US LLC OPALBD TL B 1L USD LX272544 2,214,928 $2,219,357.39 0.42%
PENNYMAC FIN SVCS INC 6.75%, due 02/15/2034 70932MAH0 2,254,000 $2,234,790.74 0.42%
AVIS BUDGET CAR/FINANCE 8.25%, due 01/15/2030 053773BJ5 2,126,000 $2,147,345.04 0.41%
MADISON IAQ LLC 5.875%, due 06/30/2029 55760LAB3 2,161,000 $2,159,453.58 0.41%
US FOODS INC 7.25%, due 01/15/2032 90290MAH4 2,078,000 $2,172,021.18 0.41%
ALLIANT HOLD / CO-ISSUER 6.50%, due 10/01/2031 01883LAG8 2,112,000 $2,123,918.02 0.40%
SEALED AIR/SEALED AIR US 6.125%, due 02/01/2028 812127AA6 2,070,000 $2,101,946.31 0.40%
SUNOCO LP 5.625%, due 03/15/2031 86765KAF6 2,079,000 $2,094,634.60 0.40%
US FOODS INC 5.75%, due 04/15/2033 90290MAJ0 2,079,000 $2,119,482.29 0.40%
CARS.COM INC 6.375%, due 11/01/2028 14575EAA3 2,101,000 $2,042,476.65 0.39%
LAMB WESTON HLD 4.375%, due 01/31/2032 513272AE4 2,154,000 $2,059,208.06 0.39%
PAYSAFE FIN PLC/PAYSAFE 4%, due 06/15/2029 70452AAA1 2,498,000 $2,077,017.93 0.39%
RB GLOBAL HOLDINGS INC 7.75%, due 03/15/2031 76774LAC1 1,978,000 $2,056,487.04 0.39%
ALLIED UNIVERSAL HOLDCO 6.875%, due 06/15/2030 019576AF4 1,956,000 $2,035,407.74 0.38%
BROADSTREET PARTNERS GROUP 5.875%, due 04/15/2029 11135RAA3 2,092,000 $2,035,699.89 0.38%
GARDA WORLD SECURITY 8.375%, due 11/15/2032 36485MAP4 1,992,000 $2,033,218.46 0.38%
HYPERION REFINANCE SARL HYPINS TL B 1L USD LX277612 2,074,392 $2,013,031.75 0.38%
CAESARS ENTERTAINMENT INC 4.625%, due 10/15/2029 12769GAA8 1,999,000 $1,943,345.85 0.37%
FREEDOM MORTGAGE HOLDINGS 9.125%, due 05/15/2031 35641AAB4 1,881,000 $1,971,686.76 0.37%
GRAPHIC PACKAGING INTERNATIONAL 6.375%, due 07/15/2032 38869AAE7 1,923,000 $1,948,776.58 0.37%
ROCKET COS INC 6.375%, due 08/01/2033 77311WAB7 1,878,000 $1,930,794.34 0.37%
NEPTUNE BIDCO US INC 9.29%, due 04/15/2029 640695AA0 1,862,000 $1,878,272.03 0.36%
CCO HLDGS LLC/CAP CORP 4.50%, due 08/15/2030 1248EPCE1 1,953,000 $1,868,041.65 0.35%
CLEAR CHANNEL OUTDOOR HOLDINGS 7.75%, due 04/15/2028 18453HAC0 1,827,000 $1,844,285.25 0.35%
CP ATLAS BUYER INC 9.75%, due 07/15/2030 12597YAC3 1,848,000 $1,872,802.73 0.35%
DREAM FINDERS HOMES INC 6.875%, due 09/15/2030 26154DAB6 1,846,000 $1,869,904.72 0.35%
GEE AUTOMOTIVE HOLDINGS 7.25%, due 03/01/2031 36846VAA1 1,819,000 $1,845,395.51 0.35%
ICON INVESTMENTS SIX DAC 5.849%, due 05/08/2029 45115AAB0 1,800,000 $1,837,343.75 0.35%
MOLINA HEALTHCARE INC 3.875%, due 05/15/2032 60855RAL4 2,076,000 $1,839,829.05 0.35%
MOLINA HEALTHCARE INC 3.875%, due 11/15/2030 60855RAK6 2,000,000 $1,832,002.00 0.35%
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio MISXX 61747C582 1,859,080 $1,859,080.08 0.35%
WH BORROWER LLC WHPGLO TL B 1L USD LX258715 1,862,433 $1,865,059.11 0.35%
BOMBARDIER INC 6.75%, due 06/15/2033 097751CD1 1,695,000 $1,790,165.78 0.34%
CLOUD SOFTWARE GRP INC 6.50%, due 03/31/2029 88632QAE3 1,831,000 $1,814,834.28 0.34%
LEVEL 3 FINANCING INC 7%, due 03/31/2034 527298CN1 1,717,000 $1,782,967.14 0.34%
VESTIS CORP VESTIS TL B 1L USD LX226533 1,842,975 $1,783,078.26 0.34%
ACRISURE LLC / FIN INC 6.75%, due 07/01/2032 004961AA6 1,750,000 $1,721,832.88 0.33%
BRUNDAGE-BONE CONCRETE 7.50%, due 02/01/2032 66981QAB2 1,709,000 $1,739,562.53 0.33%
CARNIVAL CORP 5.75%, due 08/01/2032 143658CA8 1,712,000 $1,770,331.91 0.33%
CARNIVAL CORP 5.875%, due 06/15/2031 143658BZ4 1,665,000 $1,729,270.67 0.33%
ENERGIZER HOLDINGS INC 4.75%, due 06/15/2028 29272WAC3 1,746,000 $1,728,869.82 0.33%
JONES DESLAURIERS INSURANCE MGMT 8.50%, due 03/15/2030 48020RAB1 1,661,000 $1,722,471.94 0.33%
PROAMPAC PG BORROWER LLC PROLAM TL B 1L USD LX228683 1,784,860 $1,764,780.10 0.33%
WHITE CAP SUPPLY HOLDING 7.375%, due 11/15/2030 96467GAC2 1,719,000 $1,749,321.44 0.33%
MCAFEE CORP 7.375%, due 02/15/2030 579063AB4 2,000,000 $1,666,889.26 0.32%
SS&C TECHNOLOGIES INC 6.50%, due 06/01/2032 78466CAD8 1,643,000 $1,678,146.27 0.32%
STANDARD INDUSTRIES INC 6.50%, due 07/30/2032 853191AA2 1,622,000 $1,666,669.88 0.32%
CLARIVATE SCIENCE HOLDINGS CORP 4.875%, due 07/01/2029 18064PAD1 1,929,000 $1,640,865.81 0.31%
SCIENTIFIC GAMES HOLDINGS LP/FINCO 6.625%, due 03/01/2030 80874DAA4 1,812,000 $1,633,232.25 0.31%
CCO HLDGS LLC/CAP CORP 6.375%, due 09/01/2029 1248EPCS0 1,567,000 $1,591,846.35 0.30%
CLARIOS GLOBAL LP/US FIN 6.75%, due 02/15/2030 18060TAD7 1,514,000 $1,586,755.27 0.30%
JH NORTH AMERICA HOLDING 6.125%, due 07/31/2032 46593WAB1 1,529,000 $1,563,348.99 0.30%
NOVELIS CORP 6.375%, due 08/15/2033 670001AN6 1,588,000 $1,608,162.84 0.30%
PERFORMANCE FOOD GROUP INC 5.625%, due 03/01/2034 71376LAH3 1,588,000 $1,593,510.32 0.30%
CORELOGIC INC 4.50%, due 05/01/2028 21871DAD5 1,599,000 $1,509,386.12 0.29%
IHEARTCOMMUNICATIONS INC 4.75%, due 01/15/2028 45174HBG1 1,688,000 $1,524,677.56 0.29%
MCAFEE CORP MCFE TL B1 1L USD LX256336 1,704,979 $1,515,726.70 0.29%
MILANO ACQUISITION CORP MILACQ TL 1L USD LX189433 1,638,004 $1,558,151.45 0.29%
PROJECT ALPHA INTERMEDIA Variable rate, due 05/08/2033 LX252973 2,138,520 $1,523,695.44 0.29%
VENTURE GLOBAL PLAQUEMINES LNG LLC 6.50%, due 01/15/2034 922966AC0 1,439,000 $1,521,489.24 0.29%
CLARIOS GLOBAL LP/US FIN 6.75%, due 09/15/2032 18060TAE5 1,414,000 $1,461,184.70 0.28%
CLEAR CHANNEL OUTDOOR HOLDINGS 7.875%, due 04/01/2030 18453HAF3 1,409,000 $1,489,613.12 0.28%
OSAIC HOLDINGS INC 8%, due 08/01/2033 00791GAC1 1,464,000 $1,469,970.18 0.28%
PHOENIX AVIATION CAPITAL 9.25%, due 07/15/2030 71910DAA9 1,418,000 $1,487,314.39 0.28%
ADVANCED DRAINAGE SYSTEMS 6.375%, due 06/15/2030 00790RAB0 1,414,000 $1,446,702.99 0.27%
BOYD GAMING CORP 4.75%, due 06/15/2031 103304BV2 1,438,000 $1,404,319.02 0.27%
FORTREA HOLDINGS INC 7.50%, due 07/01/2030 34965KAA5 1,451,000 $1,419,742.10 0.27%
LSF12 HELIX PARENT LLC 7.125%, due 02/01/2033 548916AA3 1,408,000 $1,412,290.18 0.27%
TRINET GROUP INC 7.125%, due 08/15/2031 896288AC1 1,484,000 $1,441,894.32 0.27%
BLACK PEARL COMPUTE LLC 6.125%, due 02/15/2031 09216NAA8 1,329,000 $1,363,884.45 0.26%
CAMELOT US ACQUISITION LLC CCC TL B 1L USD LX263458 1,575,540 $1,352,009.89 0.26%
PARK RIVER HOLDINGS INC 8.75%, due 12/31/2030 70082LAD9 1,450,379 $1,399,960.55 0.26%
STANDARD BUILDING SOLUTIONS 5.875%, due 03/15/2034 853192AA0 1,392,000 $1,393,301.38 0.26%
STARLIGHT PARENT LLC SWI TL 1L USD LX259924 1,558,207 $1,367,327.03 0.26%
ALPHA GENERATION LLC 6.75%, due 10/15/2032 02073LAA9 1,278,000 $1,329,852.29 0.25%
ALLIED UNIVERSAL HOLDCO 7.875%, due 02/15/2031 019576AD9 1,196,000 $1,262,842.04 0.24%
ARDONAGH GROUP FINANCE 8.875%, due 02/15/2032 039956AA5 1,261,000 $1,256,046.92 0.24%
DG INVESTMENT INTERMEDI Variable rate, due 07/31/2033 LX266714 1,276,175 $1,271,389.30 0.24%
IDERA INC Variable rate, due 03/02/2029 LX192320 1,757,099 $1,267,597.36 0.24%
FIESTA PURCHASER INC 7.875%, due 03/01/2031 31659AAA4 1,198,000 $1,239,487.94 0.23%
LIGHT & WONDER INTERNATIONAL 7.50%, due 09/01/2031 531968AA3 1,163,000 $1,213,470.71 0.23%
NRG ENERGY INC 6.25%, due 11/01/2034 629377CX8 1,192,000 $1,231,634.68 0.23%
SPX FLOW INC 8.75%, due 04/01/2030 758071AA2 1,175,000 $1,203,913.23 0.23%
AMSPEC PARENT LLC AMSPEC TL B 1L USD LX264651 1,149,441 $1,154,227.92 0.22%
CCO HLDGS LLC/CAP CORP 4.75%, due 03/01/2030 1248EPCD3 1,184,000 $1,150,290.69 0.22%
NEPTUNE BIDCO US INC 10.375%, due 05/15/2031 640695AC6 1,125,000 $1,143,947.25 0.22%
ROCKET COS INC 7.125%, due 02/01/2032 77311WAD3 1,100,000 $1,149,325.11 0.22%
SS&C TECHNOLOGIES INC 5.50%, due 09/30/2027 78466CAC0 1,179,000 $1,181,527.78 0.22%
FREEDOM MORTGAGE HOLDINGS 8.375%, due 04/01/2032 35641AAC2 1,112,000 $1,127,940.52 0.21%
NORDSTROM INC 4.375%, due 04/01/2030 655664AT7 1,146,000 $1,097,939.97 0.21%
SIX FLAGS/CAN WON/MILLEN 8.625%, due 01/15/2032 83003AAA8 1,120,000 $1,134,832.76 0.21%
PETSMART INC PETM TL B 1L USD LX267367 1,042,725 $1,040,118.37 0.20%
VERIFONE SYSTEMS INC PAY TL 1L USD LX261077 1,130,856 $1,043,039.73 0.20%
AECOM 6%, due 08/01/2033 00766TAE0 1,000,000 $1,021,105.00 0.19%
BELLRING BRANDS INC 7%, due 03/15/2030 07831CAA1 1,002,000 $1,024,797.50 0.19%
FERTITTA ENTERTAINMENT 6.75%, due 1/15/2030 31556TAC3 1,097,000 $1,031,516.34 0.19%
SERVICE PROPERTIES TRUST 0%, due 09/30/2027 81761LAF9 1,108,000 $1,014,231.28 0.19%
SERVICE PROPERTIES TRUST 8.625%, due 11/15/2031 81761LAC6 958,000 $1,007,337.46 0.19%
STANDARD BUILDING SOLUTIONS 6.25%, due 08/01/2033 853191AC8 999,000 $1,015,954.03 0.19%
JANE STREET GRP/JSG FIN 6.125%, due 11/01/2032 47077WAD0 923,000 $932,840.10 0.18%
KNOWBE4 INC KNBE TL 1L USD LX266122 1,009,800 $893,673.00 0.17%
LIFE TIME INC 6%, due 11/15/2031 53190FAE5 876,000 $897,069.55 0.17%
RB GLOBAL HOLDINGS INC 6.75%, due 03/15/2028 76774LAB3 901,000 $916,891.84 0.17%
WESCO DISTRIBUTION INC 5.25%, due 04/15/2031 95081QAT1 919,000 $924,743.75 0.17%
WESCO DISTRIBUTION INC 6.375%, due 03/15/2033 95081QAS3 860,000 $896,720.28 0.17%
WILLIAMS SCOTSMAN INC 7.375%, due 10/01/2031 96949VAL7 840,000 $879,421.20 0.17%
BLOCK INC 5.625%, due 08/15/2030 852234AT0 843,000 $852,102.71 0.16%
CCO HLDGS LLC/CAP CORP 7%, due 02/01/2033 1248EPCU5 840,000 $860,982.36 0.16%
LBM ACQUISITION LLC USLBMH TL B 1L USD LX267330 969,120 $850,402.74 0.16%
STANDARD INDUSTRIES INC 4.375%, due 07/15/2030 853496AG2 858,000 $828,063.18 0.16%
TALEN ENERGY SUPPLY LLC 6.25%, due 02/01/2034 87422VAM0 841,000 $854,466.93 0.16%
TRIVIUM PACKAGING FIN 8.25%, due 07/15/2030 89686QAD8 787,000 $841,423.32 0.16%
CUSHMAN & WAKEFIELD US BORROWER 8.875%, due 09/01/2031 23166MAC7 737,000 $780,362.86 0.15%
DG INVESTMENT INTERMEDI CONGNT TL B 1L USD LX265213 780,224 $782,662.34 0.15%
GATES CORPORATION 6.875%, due 07/01/2029 367398AA2 752,000 $782,728.23 0.15%
LBM ACQUISITION LLC 9.50%, due 06/15/2031 52109SAB5 848,000 $799,848.67 0.15%
TRANSDIGM INC 6%, due 12/15/2033 893647BW6 754,000 $769,607.83 0.15%
C&S WHOLESALE GROCERS INC CSWHOL TL B 1L USD LX267078 759,442 $747,101.17 0.14%
LogMeIn, Inc. (GoTo Group, Inc.) First Lien Second Out TL LX226624 2,267,877 $717,216.02 0.14%
GOTO GROUP INC 5.50%, due 05/01/2028 38349YAB1 2,445,875 $709,303.75 0.13%
PETSMART LLC/PETSMART FI 7.50%, due 09/15/2032 71677KAC2 690,000 $704,556.10 0.13%
TENET HEALTHCARE CORP 5.50%, due 11/15/2032 88033GDW7 690,000 $699,556.50 0.13%
VISTRA OPERATIONS CO LLC 7.75%, due 10/15/2031 92840VAP7 641,000 $676,904.33 0.13%
SMYRNA READY MIX CONCRET SMYREA TL B 1L USD LX257799 625,230 $627,315.07 0.12%
THE BRINK'S CO 6.50%, due 06/15/2029 109696AC8 618,000 $636,404.04 0.12%
TRIVIUM PACKAGING FIN 12.25%, due 01/15/2031 89686QAC0 581,000 $635,770.29 0.12%
WRANGLER HOLDCO CORP 6.625%, due 04/01/2032 37441QAA9 618,000 $642,129.40 0.12%
AMER SPORTS COMPANY 6.75%, due 02/16/2031 02352NAA7 549,000 $576,670.15 0.11%
BLOCK INC 6%, due 08/15/2033 852234AU7 562,000 $569,098.06 0.11%
CLEAN HARBORS INC 5.75%, due 10/15/2033 184496AR8 568,000 $581,852.95 0.11%
CLEAR CHANNEL OUTDOOR HOLDINGS 7.125%, due 02/15/2031 18453HAG1 564,000 $595,881.23 0.11%
EQUIPMENTSHARE.COM INC 9%, due 05/15/2028 29450YAA7 574,000 $601,397.02 0.11%
EZCORP INC 7.375%, due 04/01/2032 302301AJ5 560,000 $600,428.64 0.11%
FREEDOM MORTGAGE HOLDINGS 9.25%, due 02/01/2029 35641AAA6 559,000 $584,331.09 0.11%
LABL INC 8.625%, due 10/01/2031 50168QAF2 1,440,000 $597,600.00 0.11%
LBM ACQUISITION LLC USLBMH TL B 1L USD LX233733 681,175 $570,971.17 0.11%
PARK RIVER HOLDINGS INC 8%, due 03/15/2031 70082LAC1 568,000 $577,928.64 0.11%
PETSMART LLC/PETSMART FI 10%, due 09/15/2033 71677KAD0 563,000 $569,964.87 0.11%
PRIMO / TRITON WATER HLD 6.25%, due 04/01/2029 74168RAC7 560,000 $560,346.81 0.11%
SCIH SALT HOLDINGS INC 4.875%, due 05/01/2028 78433BAA6 570,000 $567,353.49 0.11%
SEALED AIR CORP 5%, due 04/15/2029 81211KBA7 566,000 $568,979.99 0.11%
SIX FLAGS ENTERTAINMENT 7.25%, due 05/15/2031 83001AAD4 586,000 $574,343.70 0.11%
STANDARD INDUSTRIES INC 4.75%, due 01/15/2028 853496AD9 574,000 $573,459.75 0.11%
TAYLOR MORRISON COMMUNITIES 5.75%, due 11/15/2032 87724RAK8 562,000 $580,956.26 0.11%
UNDER ARMOUR INC 7.25%, due 07/15/2030 904311AD9 567,000 $586,060.84 0.11%
US FOODS INC 4.75%, due 02/15/2029 90290MAD3 603,000 $599,690.56 0.11%
ADVANCED DRAINAGE SYSTEMS 5.375%, due 03/01/2034 00790RAC8 530,000 $533,771.48 0.10%
BRINKER INTERNATIONAL INC 8.25%, due 07/15/2030 109641AK6 515,000 $542,298.30 0.10%
CLOUD SOFTWARE GRP INC 6.625%, due 08/15/2033 18912UAG7 548,000 $522,141.85 0.10%
RH RH TL B2 1L USD LX204424 550,547 $548,711.15 0.10%
RHP HOTEL PPTY/RHP FINAN 5.75%, due 03/15/2034 74984CAA6 535,000 $541,626.91 0.10%
NORDSTROM INC 4%, due 03/15/2027 655664AS9 500,000 $495,587.15 0.09%
AXON ENTERPRISE INC 6.125%, due 03/15/2030 05464CAC5 420,000 $435,223.74 0.08%
NEWELL BRANDS INC 8.50%, due 06/01/2028 651229BG0 426,000 $449,137.34 0.08%
VERITIV OPERATING CO VRTV TL B 1L USD LX219615 413,627 $407,709.92 0.08%
HUB INTERNATIONAL LTD HBGCN TL B 1L USD LX257819 365,798 $364,949.00 0.07%
AMENTUM HOLDINGS INC 7.25%, due 08/01/2032 02352BAA3 316,000 $332,242.40 0.06%
CACI INTERNATIONAL INC 6.375%, due 06/15/2033 127190AE6 282,000 $291,966.16 0.06%
CONCENTRA HEALTH SERVICE 6.875%, due 07/15/2032 20600DAA1 309,000 $322,422.96 0.06%
RHP HOTEL PPTY/RHP FINAN 6.50%, due 06/15/2033 749571AL9 284,000 $295,568.74 0.06%
ROCKIES EXPRESS PIPELINE 6.75%, due 03/15/2033 77340RAU1 280,000 $295,613.45 0.06%
SCIH SALT HOLDINGS INC 6.625%, due 05/01/2029 78433BAB4 300,000 $298,255.46 0.06%
SCOTTS MIRACLE-GRO CO 4.375%, due 02/01/2032 810186AW6 338,000 $321,677.81 0.06%
SENSATA TECHNOLOGIES INC 3.75%, due 02/15/2031 81728UAB0 333,000 $314,226.23 0.06%
SYNERGY INFRASTRUCTURE HOLDINGS 7.875%, due 12/01/2030 87191JAA2 281,000 $292,456.37 0.06%
VENTURE GLOBAL PLAQUEMINES LNG LLC 7.75%, due 05/01/2035 922966AB2 286,000 $326,626.87 0.06%
AXON ENTERPRISE INC 6.25%, due 03/15/2033 05464CAD3 280,000 $290,740.80 0.05%
CARPENTER TECHNOLOGY 5.625%, due 03/01/2034 144285AN3 280,000 $285,218.08 0.05%
INSTALLED BUILDING PRODUCTS 5.625%, due 02/01/2034 45780RAB7 279,000 $283,031.37 0.05%
NEPTUNE BIDCO US INC 9.50%, due 02/15/2033 640695AD4 265,000 $261,616.80 0.05%
RXO INC 6.375%, due 05/15/2031 74982TAA1 264,000 $258,732.86 0.05%
SCIENCE APPLICATIONS INT 5.875%, due 11/01/2033 808625AB3 283,000 $281,861.55 0.05%
SEAWORLD PARKS & ENTERTAINMENT 5.25%, due 08/15/2029 81282UAG7 283,000 $274,497.94 0.05%
TENET HEALTHCARE CORP 6%, due 11/15/2033 88033GDV9 280,000 $289,385.60 0.05%
VIKING CRUISES LTD 5.875%, due 10/15/2033 92676XAH0 285,000 $289,292.67 0.05%
WAYFAIR LLC 6.75%, due 11/15/2032 94419NAC1 282,000 $288,441.46 0.05%
WILLIAMS SCOTSMAN INC 6.625%, due 04/15/2030 96949VAN3 273,000 $282,454.81 0.05%
CSC HOLDINGS LLC 3.375%, due 02/15/2031 126307BF3 250,000 $149,159.43 0.03%
GARDA WORLD SECURITY 8.25%, due 08/01/2032 36485MAN9 158,000 $160,631.49 0.03%
HERC HOLDINGS INC 5.75%, due 03/15/2031 42704LAH7 140,000 $141,487.23 0.03%
HERC HOLDINGS INC 6%, due 03/15/2034 42704LAK0 140,000 $140,293.14 0.03%
KASEYA INC Variable rate, due 03/20/2033 LX259601 131,425 $105,632.90 0.02%
Akorn Oct 2020 Equity .AKRX 220,989 $8,839.56 0.00%
US Dollar $USD -609,527 ($609,526.79) -0.12%
Holdings are subject to change.