| Deutsche Bank, 7.5% perp., USD (US251525AN16) |
| Deutsche Bank, 6.25% perp., USD (XS1071551474) |
| Allianz, 3.5% perp., USD (USX10001AA78) |
| Allianz, 3.5% perp., USD (USX10001AA78) |
| Mercedes-Benz Group, 8.5% 18jan2031, USD (US233835AQ08) |
| Volkswagen, 5.125% perp., EUR (XS0968913342) |
| Commerzbank, 6% 12jan2028, USD (XS1342647564) |
| Allianz, 3.2% perp., USD (USX10001AB51) |
| Allianz, 3.2% perp., USD (USX10001AB51) |
| Deutsche Bank, 7.125% perp., EUR (DE000A4DE982) |
| ZF Friedrichshafen, 3% 23oct2029, EUR (XS2010039894) |
| Hella KGaA, 0.5% 26jan2027, EUR (XS2047479469) |
| Deutsche Telekom, 8.75% 15jun2030, USD (US25156PAC77) |
| Deutsche Bank, 7.375% perp., EUR (DE000A383S52) |
| Deutsche Bank, 1.75% 17jan2028, EUR (DE000DL19T26) |
| Air Berlin, 5.625% 9may2019, CHF (XS1051723895) |
| KFW, 0.125% 30dec2026, GBP (XS2281478268) |
| KFW, 0.125% 30dec2026, GBP (XS2281478268) |
| Tele Columbus, 10% 1jan2029, EUR (XS1814546013) |
| Deutsche Bank, 7.125% perp., GBP (XS1071551391) |
| Gothaer, 6% 30oct2045, EUR (DE000A168478) |
| Deutsche Bank, 6% perp., USD (US251525AX97) |
| Deutsche Bank, 6% perp., USD (US251525AX97) |
| Landesbank Baden-Wuerttemberg (LBBW), 6.75% perp., EUR (DE000LB4XHX4) |
| Deutsche Telekom, 1.75% 9dec2049, EUR (XS2089226026) |
| Allianz, 3.875% perp., USD (XS1485742438) |
| ESPG AG, 9.5% 1oct2029, EUR (DE000A2NBY22) |
| BMW, 2.85% 14aug2029, USD (USN1453LAC20) |
| Deutsche Bank, 4.5% 1apr2025, USD (US251525AP63) |
| Volkswagen, 2.25% 12apr2025, GBP (XS1596735701) |
| Commerzbank, 2% 26jun2034, USD (1048) (XS2849747519) |
| Volkswagen Financial Services AG, 3.5% perp., EUR (XS1206541366) |
| Deutsche Bank, 5.625% 19may2031, EUR (DE000DL19VB0) |
| KFW, 1.375% 7jun2032, EUR (XS2475954900) |
| Deutsche Bank, 5.625% 19may2031, EUR (DE000DL19VB0) |
| KFW, 1.375% 7jun2032, EUR (XS2475954900) |
| KFW, 1.375% 9dec2024, GBP (XS1941813617) |
| Bayer, 4.375% 15dec2028, USD (USU07265AF50) |
| Commerzbank, 7% perp., USD (XS2024502960) |
| Douglas GmbH, 6% 8apr2026, EUR (XS2326497802) |
| Bayer, 5.375% 25mar2082, EUR (XS2451803063) |
| Douglas GmbH, 6% 8apr2026, EUR (XS2326497802) |
| Bayer, 5.375% 25mar2082, EUR (XS2451803063) |
| Deutsche Telekom, 9.25% 1jun2032, USD (US25156PAD50) |
| Allianz, 2.625% perp., EUR (DE000A289FK7) |
| Allianz, 2.625% perp., EUR (DE000A289FK7) |
| SAP SE, 1.75% 22feb2027, EUR (DE000A13SL34) |
| Siemens, 6.125% 17aug2026, USD (XS0264824375) |
| Corestate Capital Holding SA, 8% 31dec2026, EUR (DE000A19YDA9) |
| Deutsche Bank, 4.625% perp., EUR (DE000DL19VZ9) |
| Deutsche Bank, 4.5% perp., EUR (DE000DL19V55) |
| Volkswagen, 4.375% perp., EUR (XS2342732646) |
| Deutsche Bank, 4.625% perp., EUR (DE000DL19VZ9) |
| Deutsche Bank, 4.5% perp., EUR (DE000DL19V55) |
| Volkswagen, 4.375% perp., EUR (XS2342732646) |
| Volkswagen, 3.5% perp., EUR (XS2187689034) |
| Commerzbank, 4.25% perp., EUR (3) (DE000CZ45WA7) |
| E.ON, 0.875% 18oct2034, EUR (78) (XS2433244246) |
| Volkswagen, 3.5% perp., EUR (XS2187689034) |
| Commerzbank, 4.25% perp., EUR (3) (DE000CZ45WA7) |
| E.ON, 0.875% 18oct2034, EUR (78) (XS2433244246) |
| Volkswagen, 4.625% perp., EUR (XS1048428442) |
| Commerzbank, 6.125% perp., EUR (1) (XS2189784288) |
| Deutsche Bank, 6.75% perp., EUR (Conv.) (DE000DL19WG7) |
| Commerzbank, 6.125% perp., EUR (1) (XS2189784288) |
| Deutsche Bank, 6.75% perp., EUR (Conv.) (DE000DL19WG7) |
| Fressnapf Holding, 5.25% 31oct2031, EUR (XS2910536452) |
| Deutsche Bank, 4.1% 13jan2026, USD (US25152R2Y86) |
| Deutsche Bank (New York Branch), 4.875% 1dec2032, USD (US251526BN89) |
| NORD/LB, 0.75% 5mar2029, EUR (DE000DHY5025) |
| Deutsche Post, 3% 24mar2030, EUR (XS3032045471) |
| Deutsche Post, 4% 24mar2040, EUR (XS3032045398) |
| Deutsche Bahn, 3.125% 24jul2026, GBP (XS0954706023) |
| Deutsche Pfandbriefbank, 5.75% perp., EUR (XS1808862657) |
| Kleopatra Holdings 1, 6.5% 1sep2029, EUR (XS2298382453) |
| PCF GmbH, FRN 15apr2029, EUR (XS2333302052) |
| Munich Reinsurance Company (Munich Re), 5.875% 23may2042, USD (USD5558XAA66) |
| Kleopatra Holdings 1, 6.5% 1sep2029, EUR (XS2298382453) |
| PCF GmbH, FRN 15apr2029, EUR (XS2333302052) |
| Munich Reinsurance Company (Munich Re), 5.875% 23may2042, USD (USD5558XAA66) |
| Air Berlin, 8.25% 19apr2018, EUR (DE000AB100B4) |
| Aroundtown, 5.375% 21mar2029, USD (18) (XS1964701822) |
| Schaeffler, 2.875% 26mar2027, EUR (DE000A2YB7B5) |
| ThyssenKrupp, 4.125% 26jan2026, USD (1) (XS1173293561) |
| TK Elevator Holdco, 6.625% 15jul2028, EUR (XS2198191962) |
| ADLER Group S.A., 12.403% 14jan2029, EUR (XS2283225477) |
| ThyssenKrupp, 4.125% 26jan2026, USD (1) (XS1173293561) |
| TK Elevator Holdco, 6.625% 15jul2028, EUR (XS2198191962) |
| ADLER Group S.A., 12.403% 14jan2029, EUR (XS2283225477) |
| Deutsche Lufthansa, 5.25% 15jan2055, EUR (XS2965681633) |
| Alstria Office REIT, 5.5% 20mar2031, EUR (XS3025437982) |
| Demire Deutsche Mittelstand Real Estate, 5% 31dec2027, EUR (DE000A2YPAK1) |
| WIBank, 0.2% 2dec2043, EUR (DE000A2GSR96) |
| ZF Friedrichshafen, 2% 6may2027, EUR (4) (XS2338564870) |
| KFW, 1.125% 4jul2025, GBP (XS2430324405) |
| BASF, 3.75% 29jun2032, EUR (XS2491542457) |
| WIBank, 0.2% 2dec2043, EUR (DE000A2GSR96) |
| ZF Friedrichshafen, 2% 6may2027, EUR (4) (XS2338564870) |
| KFW, 1.125% 4jul2025, GBP (XS2430324405) |
| BASF, 3.75% 29jun2032, EUR (XS2491542457) |