# EDGAR Filing Document

**Accession Number:** 0000809593
**File Stem:** 0001752724-23-073125
**Filing Date:** 2023-3
**Character Count:** 102894
**Document Hash:** 4b0a358837d5c9cb5f862c4e42c405ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-073125.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-073125

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN BEACON FUNDS
- **CENTRAL INDEX KEY:** 0000809593
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04984
- **FILM NUMBER:** 23777562

**BUSINESS ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039
- **BUSINESS PHONE:** 8173916100

**MAIL ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN AADVANTAGE FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN EAGLE FUNDS
- **DATE OF NAME CHANGE:** 19890813

## Series and Classes Contracts Data

### American Beacon Developing World Income Fund (Series ID: S000044050)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000136710 | A Class        | AGUAX           |
| C000136711 | C Class        | AGECX           |
| C000136712 | R5 Class       | AGEIX           |
| C000136713 | Investor Class | AGEPX           |
| C000136714 | Y Class        | AGEYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AMERICAN BEACON FUNDS

- **b. Investment Company Act file number:** 811-04984

- **c. CIK number of Registrant:** 0000809593

- **d. LEI of Registrant:** 549300EXCES9V5RWB620

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

  - **Street Address 1:** 220 EAST LAS COLINAS BOULEVARD

  - **City:** IRVING

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 75039

  - **Telephone number:** 817-391-6100

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

- **a. Name of Series:** American Beacon Developing World Income Fund

- **b. EDGAR series identifier (if any):** S000044050

- **c. LEI of Series:** 5493006BLM91S7IS8616

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

- **a. Date of fiscal year-end:** 2023-01-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $398859246.14

**Total Liabilities:** $813752.77

**Net Assets:** $398045493.37

**Cash Not Reported:** $13291612.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -100.15000000 | **1-Year:** -390.08000000 | **5-Year:** -339.65000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -567.07000000 | **1-Year:** -14684.41000000 | **5-Year:** -47731.06000000 | **10-Year:** -42804.77000000 | **30-Year:** -10411.44000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000136714 | 6.82%                | 1.03%                | 3.28%                |
| Class ID C000136710 | 6.80%                | 0.98%                | 3.28%                |
| Class ID C000136712 | 6.83%                | 1.04%                | 3.28%                |
| Class ID C000136711 | 6.78%                | 1.02%                | 3.15%                |
| Class ID C000136713 | 6.81%                | 0.99%                | 3.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5133744.70             | $26997862.93                               |
| Month 2  | $-2179876.77             | $4085148.38                                |
| Month 3  | $-5989912.82             | $13148182.82                               |

### Schedule of Portfolio Investments

| Name                                         | Title                                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |     Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    43467948 | PA      | $332267.46    | 0.08%             | 2026-10-12      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 000000000<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |   100000000 | PA      | $1607230.05   | 0.40%             | 2025-05-11      | Fixed         | 17.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF RWANDA                           | Rwanda International Government Bonds                              | CUSIP: 78347YAL7<br>LEI: 213800DQC28OBRZDYJ87 | Long             | DBT              | NUSS              | RW        |     1821000 | PA      | $1385904.83   | 0.35%             | 2031-08-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                            | Ghana Government International Bonds                               | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      220000 | PA      | $79640.44     | 0.02%             | 2051-03-26      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 85312EDT7<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |   133161509 | PA      | $4842987.18   | 1.22%             | 2026-01-27      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                           | Dominican Republic International Bonds                             | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   220000000 | PA      | $3228475.77   | 0.81%             | 2027-02-12      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEOKAM                     | Kazakhstan Government Bonds - MEOKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   240000000 | PA      | $477738.10    | 0.12%             | 2025-02-11      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Frontera Capital BV                          | Frontera Capital BV                                                | CUSIP: 000000000<br>LEI: 2138002PSD6UU8BI9K98 | Long             | SN               | CORP              | NL        |    70000000 | PA      | $700406.27    | 0.18%             | 2025-05-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                            | Tunisian Republic                                                  | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |     5604000 | PA      | $3643858.68   | 0.92%             | 2026-07-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ECOBANK TRANSNATIONAL                        | Ecobank Transnational, Inc.                                        | CUSIP: 27889PAB9<br>LEI: 213800USCE9Y111R4656 | Long             | DBT              | CORP              | TG        |      744000 | PA      | $642518.40    | 0.16%             | 2031-06-17      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                     | Kazakhstan Government Bonds - MEUKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |  1000000000 | PA      | $1777665.80   | 0.45%             | 2027-03-06      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1373000 | PA      | $1116238.02   | 0.28%             | 2031-01-21      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1680000 | PA      | $97749.46     | 0.02%             | 2025-01-27      | Fixed         | 21.00%                | No            |                  2 | On Loan: No      |
| Republic of Senegal                          | Senegal Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |     5496000 | PA      | $4103093.76   | 1.03%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| American Beacon U.S. Government Money Market | American Beacon U.S. Government Money Market                       | CUSIP: 02368W200<br>LEI: 549300EXCES9V5RWB620 | Long             | STIV             | RF                | US        |    24495667 | NS      | $24495666.99  | 6.15%             |  |  |  | No            |                  1 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   631000000 | PA      | $4959448.86   | 1.25%             | 2033-01-10      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| IVORY COAST                                  | Ivory Coast Government International Bonds                         | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     1530000 | PA      | $1397205.59   | 0.35%             | 2031-10-17      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                      | European Bank for Reconstruction & Development                     | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |      800000 | PA      | $711416.80    | 0.18%             | 2023-06-14      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                      | European Bank for Reconstruction & Development                     | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        | 29495000000 | PA      | $1232758.29   | 0.31%             | 2025-12-07      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                            | Republic of Kenya Government International Bonds                   | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      215000 | PA      | $168413.80    | 0.04%             | 2048-02-28      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    13300000 | PA      | $1105933.34   | 0.28%             | 2023-02-06      | Fixed         | 16.50%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                       | Republic of Uzbekistan International Bonds                         | CUSIP: 91822Q2F3<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        | 32120000000 | PA      | $2703380.97   | 0.68%             | 2024-07-19      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                          | Nigeria Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     2365000 | PA      | $1685062.50   | 0.42%             | 2033-09-28      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| HERITAGE PETROL CO LTD                       | Heritage Petroleum Co. Ltd.                                        | CUSIP: 42727GAA6<br>LEI: 25490055MYPABN06OA04 | Long             | DBT              | CORP              | TT        |     1096000 | PA      | $1145429.60   | 0.29%             | 2029-08-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Republic of Angola                           | Angolan Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     2375000 | PA      | $2113892.50   | 0.53%             | 2048-05-08      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEOKAM                     | Kazakhstan Government Bonds - MEOKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   500000000 | PA      | $945383.78    | 0.24%             | 2026-08-04      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1590000 | PA      | $1459858.50   | 0.37%             | 2025-11-21      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Gabon                            | Gabon Government International Bonds                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |     1414000 | PA      | $1370335.68   | 0.34%             | 2025-06-16      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| GOVERNMENT OF UKRAINE                        | Ukraine Government Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   102000000 | PA      | $1690345.63   | 0.42%             | 2025-02-26      | Fixed         | 15.84%                | No            |                  3 | On Loan: No      |
| Republic of Zambia                           | Zambia Government International Bonds                              | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     1416000 | PA      | $703131.79    | 0.18%             | 2027-07-30      | Fixed         | 8.97%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                            | Purchased USD / Sold KZT                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |           1 | NC      | $-23881.22    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                | HTA Group Ltd.                                                     | CUSIP: 40435WAB6<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |     1800000 | PA      | $1692000.00   | 0.43%             | 2025-12-18      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND                        | Egypt Government Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     6500000 | PA      | $178218.15    | 0.04%             | 2026-04-06      | Fixed         | 14.48%                | No            |                  2 | On Loan: No      |
| Republic of Iraq                             | Iraq International Bonds                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |     4441250 | PA      | $4110021.58   | 1.03%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| SEPLAT ENERGY PL                             | SEPLAT Energy PLC                                                  | CUSIP: 81733LAB3<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |      869000 | PA      | $756030.00    | 0.19%             | 2026-04-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARMENIA                          | Republic of Armenia International Bonds                            | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |     1232000 | PA      | $964964.00    | 0.24%             | 2031-02-02      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| NIGERIA GOVERNMENT BOND                      | Nigeria Government Bonds                                           | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   856000000 | PA      | $1869623.18   | 0.47%             | 2026-01-22      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                     | Development Bank of Kazakhstan JSC                                 | CUSIP: 000000000<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | CORP              | KZ        |   387500000 | PA      | $815459.98    | 0.20%             | 2023-05-04      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| TAJIKISTAN INT BOND                          | Republic of Tajikistan International Bonds                         | CUSIP: 000000000<br>LEI: 529900W1LSYUF3CYVU10 | Long             | DBT              | NUSS              | TJ        |     4870000 | PA      | $3741095.04   | 0.94%             | 2027-09-14      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                       | Republic of Uzbekistan International Bonds                         | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        | 43810000000 | PA      | $3791883.59   | 0.95%             | 2023-11-25      | Fixed         | 14.50%                | Yes           |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                           | Mongolia Government International Bonds                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |     1581000 | PA      | $1296504.63   | 0.33%             | 2031-07-07      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                            | Republic of Kenya Government International Bonds                   | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      400000 | PA      | $307600.00    | 0.08%             | 2034-01-23      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| FRONTERA CAPITAL BV                          | Frontera Capital BV                                                | CUSIP: 000000000<br>LEI: 2138002PSD6UU8BI9K98 | Long             | SN               | CORP              | NL        |     1900000 | PA      | $1116005.87   | 0.28%             | 2023-08-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    18612000 | PA      | $806388.93    | 0.20%             | 2026-11-02      | Fixed         | 19.00%                | No            |                  2 | On Loan: No      |
| SAGICOR FINANCIAL CO                         | Sagicor Financial Co. Ltd.                                         | CUSIP: 78669QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     1081000 | PA      | $1049996.92   | 0.26%             | 2028-05-13      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1000000 | PA      | $65159.21     | 0.02%             | 2024-04-15      | Fixed         | 19.75%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                            | Republic of Kenya Government International Bonds                   | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     2231000 | PA      | $1715639.00   | 0.43%             | 2034-01-23      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| IVORY COAST                                  | Ivory Coast Government International Bonds                         | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     6825000 | PA      | $5807478.18   | 1.46%             | 2032-01-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| GOVERNMENT OF UKRAINE                        | Ukraine Government Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    14500000 | PA      | $274482.75    | 0.07%             | 2023-08-23      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| Arab Republic of Egypt                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      766000 | PA      | $508440.16    | 0.13%             | 2048-02-21      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                     | First Quantum Minerals Ltd.                                        | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |      764000 | PA      | $740602.50    | 0.19%             | 2027-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                     | Purchased EUR / Sold USD                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | XX        |           1 | NC      | $-2308.59     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF CAMEROON                         | Republic of Cameroon International Bonds                           | CUSIP: 000000000<br>LEI: 54930021BO6NHYGBBV24 | Long             | DBT              | NUSS              | CM        |     3250000 | PA      | $2691225.39   | 0.68%             | 2032-07-07      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| BOI FINANCE BV                               | BOI Finance BV                                                     | CUSIP: 000000000<br>LEI: 724500ZH3H2YACBUNF38 | Long             | DBT              | CORP              | NL        |     1351000 | PA      | $1226397.97   | 0.31%             | 2027-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                            | Jordan Government International Bonds                              | CUSIP: 000000000<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |     1552000 | PA      | $1428563.23   | 0.36%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    23500000 | PA      | $1238670.57   | 0.31%             | 2025-06-23      | Fixed         | 19.25%                | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        | 13700000000 | PA      | $1788434.75   | 0.45%             | 2026-02-13      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    12000000 | PA      | $447477.72    | 0.11%             | 2026-06-17      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| KAZAKH TBILL - MEKKAM                        | Kazakhstan Treasury Bills - MEKKAM                                 | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |  1450000000 | PA      | $2878579.04   | 0.72%             | 2023-08-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IHS NETHERLANDS HOLDCO                       | IHS Netherlands Holdco BV                                          | CUSIP: 44963LAC0<br>LEI: 5493006Z6YQYCCN2XI74 | Long             | DBT              | CORP              | NL        |     1015000 | PA      | $914819.50    | 0.23%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  4000000000 | PA      | $1230336.40   | 0.31%             | 2025-12-18      | Fixed         | 19.50%                | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     1356000 | PA      | $1020390.00   | 0.26%             | 2032-02-16      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| GEORGIA T-BOND                               | Georgia Treasury Bonds                                             | CUSIP: 000000000<br>LEI: 2138007T8RLEVDMLQ257 | Long             | DBT              | NUSS              | GE        |     6540000 | PA      | $2429369.67   | 0.61%             | 2026-01-28      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    24795000 | PA      | $838127.50    | 0.21%             | 2027-12-18      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                     | Uruguay Government International Bonds                             | CUSIP: 917288BL5<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   384689335 | PA      | $10478022.38  | 2.63%             | 2040-07-02      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    25000000 | PA      | $195533.66    | 0.05%             | 2024-12-02      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                      | European Bank for Reconstruction & Development                     | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |     1950000 | PA      | $1653054.00   | 0.42%             | 2023-02-28      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                      | European Bank for Reconstruction & Development                     | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |      750000 | PA      | $867637.50    | 0.22%             | 2023-05-06      | Fixed         | 10.10%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                     | Suriname Government International Bonds                            | CUSIP: 000000000<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |     1400000 | PA      | $1089200.00   | 0.27%             | 2026-10-26      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                      | Pakistan Government International Bonds                            | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     4189000 | PA      | $1741786.20   | 0.44%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEOKAM                     | Kazakhstan Government Bonds - MEOKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   149000000 | PA      | $328581.95    | 0.08%             | 2025-01-13      | Fixed         | 16.70%                | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     4200000 | PA      | $272065.67    | 0.07%             | 2024-03-18      | Fixed         | 17.70%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                            | Republic of Kenya Government International Bonds                   | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     4373000 | PA      | $3425458.36   | 0.86%             | 2048-02-28      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    30000000 | PA      | $937113.40    | 0.24%             | 2028-12-17      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| IVORY COAST                                  | Ivory Coast Government International Bonds                         | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     3800000 | PA      | $2978120.01   | 0.75%             | 2048-03-22      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                            | Kosmos Energy Ltd.                                                 | CUSIP: 500688AD8<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     1842000 | PA      | $1573298.25   | 0.40%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                        | Sri Lanka Government International Bonds                           | CUSIP: 000000000<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |     2713000 | PA      | $918872.26    | 0.23%             | 2030-03-28      | Fixed         | 7.55%                 | Yes           |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |    95000000 | PA      | $963232.73    | 0.24%             | 2028-02-07      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    19750000 | PA      | $845190.16    | 0.21%             | 2027-01-18      | Fixed         | 19.25%                | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      736000 | PA      | $662400.00    | 0.17%             | 2027-01-31      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                           | Dominican Republic International Bonds                             | CUSIP: 25714WBR3<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   224300000 | PA      | $3978113.66   | 1.00%             | 2029-09-23      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| Republic of Sri Lanka                        | Sri Lanka Government International Bonds                           | CUSIP: 000000000<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |     3510000 | PA      | $1189617.45   | 0.30%             | 2027-05-11      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Republic of Angola                           | Angolan Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     4633000 | PA      | $4380501.50   | 1.10%             | 2028-05-09      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                            | Ghana Government International Bonds                               | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      654000 | PA      | $239952.60    | 0.06%             | 2035-02-11      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| INTL FINANCE COR                             | International Finance Corp.                                        | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |      600000 | PA      | $556215.60    | 0.14%             | 2024-06-28      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 000000000<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |    90500000 | PA      | $1478166.67   | 0.37%             | 2025-03-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                     | Kazakhstan Government Bonds - MEUKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   400000000 | PA      | $776682.92    | 0.20%             | 2034-02-17      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria OMO Bills                                                  | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   133000000 | PA      | $288151.75    | 0.07%             | 2023-02-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                           | Dominican Republic International Bonds                             | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     8850000 | PA      | $147759.91    | 0.04%             | 2026-06-05      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                           | Serbia International Bonds                                         | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     1800000 | PA      | $1477906.93   | 0.37%             | 2029-06-26      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                        | Argentina Government International Bonds                           | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      227491 | PA      | $77432.44     | 0.02%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                | Purchased USD / Sold EUR                                           | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |           1 | NC      | $3994.84      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL BV                          | Frontera Capital BV                                                | CUSIP: 000000000<br>LEI: 2138002PSD6UU8BI9K98 | Long             | SN               | CORP              | NL        |  4500000000 | PA      | $1321948.05   | 0.33%             | 2025-04-22      | Floating      | 14.00%                | No            |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 000000000<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |    90000000 | PA      | $1474169.01   | 0.37%             | 2023-02-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Zambezi BV                                   | Zambezi BV                                                         | CUSIP: 000000000<br>LEI: 724500IN99XG3EVGLT10 | Long             | SN               | CORP              | NL        |     2000000 | PA      | $1485400.00   | 0.37%             | 2027-03-23      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| KAZAKH TBILL - MEKKAM                        | Kazakhstan Treasury Bills - MEKKAM                                 | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   201000000 | PA      | $373148.97    | 0.09%             | 2024-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                      | Pakistan Government International Bonds                            | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      375000 | PA      | $152587.50    | 0.04%             | 2051-04-08      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |     1050000 | PA      | $681555.00    | 0.17%             | 2025-05-21      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Zambezi BV                                   | Zambezi BV                                                         | CUSIP: 000000000<br>LEI: 724500IN99XG3EVGLT10 | Long             | SN               | CORP              | NL        |   180000000 | PA      | $1659175.86   | 0.42%             | 2028-04-13      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                          | Ecuador Government International Bonds                             | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     3974000 | PA      | $1926723.92   | 0.48%             | 2035-07-31      | Variable      | 2.50%                 | Yes           |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    64500000 | PA      | $2432421.60   | 0.61%             | 2026-08-29      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                            | Tunisian Republic                                                  | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |      100000 | PA      | $65022.46     | 0.02%             | 2026-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Aurora Australis BV                          | Aurora Australis BV                                                | CUSIP: 000000000<br>LEI: 724500PTLCPQVL0B8284 | Long             | SN               | CORP              | NL        |      187500 | PA      | $194456.25    | 0.05%             | 2023-12-19      | Floating      | 11.40%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                          | Ecuador Government International Bonds                             | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      438000 | PA      | $183726.84    | 0.05%             | 2040-07-31      | Variable      | 1.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF MOZAMBIQUE                       | Mozambique International Bonds                                     | CUSIP: 000000000<br>LEI: 213800759WLKYIKPER73 | Long             | DBT              | NUSS              | MZ        |    13179000 | PA      | $10497337.08  | 2.64%             | 2031-09-15      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 000000000<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |    46752000 | PA      | $782038.78    | 0.20%             | 2027-02-11      | Variable      | 14.50%                | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      900000 | PA      | $597384.00    | 0.15%             | 2048-02-21      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| FRONTERA CAPITAL BV                          | Frontera Capital BV                                                | CUSIP: 000000000<br>LEI: 2138002PSD6UU8BI9K98 | Long             | SN               | CORP              | NL        | 11287921348 | PA      | $2916290.68   | 0.73%             | 2024-10-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                      | European Bank for Reconstruction & Development                     | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |     1233333 | PA      | $1594614.88   | 0.40%             | 2023-05-11      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  2500000000 | PA      | $701924.25    | 0.18%             | 2027-05-06      | Fixed         | 16.00%                | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                      | European Bank for Reconstruction & Development                     | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |     1200000 | PA      | $1197440.40   | 0.30%             | 2024-09-21      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                           | Angolan Government International Bonds                             | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     2114000 | PA      | $1959593.44   | 0.49%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     2395000 | PA      | $1108336.43   | 0.28%             | 2050-01-20      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                            | Tunisian Republic                                                  | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |      814000 | PA      | $528709.28    | 0.13%             | 2025-01-30      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Iraq                             | Iraq International Bonds                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |     1800000 | PA      | $1787104.80   | 0.45%             | 2023-03-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                          | Benin Government International Bonds                               | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |     2638000 | PA      | $2251303.49   | 0.57%             | 2032-01-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                     | First Quantum Minerals Ltd.                                        | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     1035000 | PA      | $999465.86    | 0.25%             | 2026-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                      | Pakistan Government International Bonds                            | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     2491000 | PA      | $1046220.00   | 0.26%             | 2027-12-05      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                          | Ecuador Government International Bonds                             | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     1556850 | PA      | $1033316.72   | 0.26%             | 2030-07-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| FIRST BNK NIGERIA (FBN F                     | First Bank of Nigeria Ltd. Via FBN Finance Co. BV                  | CUSIP: 302406AC7<br>LEI: 213800WYQV2Q3TA9J649 | Long             | DBT              | CORP              | NL        |      829000 | PA      | $778530.48    | 0.20%             | 2025-10-27      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                           | Dominican Republic International Bonds                             | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   182500000 | PA      | $2924421.81   | 0.73%             | 2025-08-08      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                        | Argentina Government International Bonds                           | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    21212784 | PA      | $6519633.34   | 1.64%             | 2035-07-09      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| FORWARD STANDARD CHARTER COC                 | Collateral Position                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |      310000 | NS      | $310000.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                      | Ethiopia International Bonds                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | USGSE             | ET        |     4743000 | PA      | $3202758.18   | 0.80%             | 2024-12-11      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                     | Kazakhstan Government Bonds - MEUKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |  1568819000 | PA      | $3308231.62   | 0.83%             | 2023-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                          | Ecuador Government International Bonds                             | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     7167548 | PA      | $4757264.45   | 1.20%             | 2030-07-31      | Variable      | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ghana                            | Ghana Government International Bonds                               | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      904000 | PA      | $629306.94    | 0.16%             | 2030-10-14      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     3306000 | PA      | $2357164.78   | 0.59%             | 2050-05-29      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of El Salvador                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |      325000 | PA      | $234502.53    | 0.06%             | 2025-01-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                     | Kazakhstan Government Bonds - MEUKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    88600000 | PA      | $187955.81    | 0.05%             | 2023-04-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |      700000 | PA      | $451360.00    | 0.11%             | 2027-06-18      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    22700000 | PA      | $181916.28    | 0.05%             | 2025-05-12      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                        | Argentina Government International Bonds                           | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     3027515 | PA      | $1080105.33   | 0.27%             | 2030-07-09      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria OMO Bills                                                  | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   133000000 | PA      | $286737.32    | 0.07%             | 2023-03-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                           | Mongolia Government International Bonds                            | CUSIP: 60937LAG0<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |      223000 | PA      | $232477.50    | 0.06%             | 2028-01-19      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC                              | Access Bank PLC                                                    | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |     1007000 | PA      | $873673.20    | 0.22%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                     | Kazakhstan Government Bonds - MEUKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   284000000 | PA      | $583153.97    | 0.15%             | 2024-01-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SADEREA                                      | Saderea DAC                                                        | CUSIP: 000000000<br>LEI: 635400IPZLZJ55ANED20 | Long             | SN               | CORP              | IE        |      139548 | PA      | $61052.34     | 0.02%             | 2026-11-30      | Fixed         | 12.50%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                       | Republic of Uzbekistan International Bonds                         | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        | 20670000000 | PA      | $1739691.30   | 0.44%             | 2024-07-19      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    11000000 | PA      | $478326.13    | 0.12%             | 2024-12-27      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                            | Tunisian Republic                                                  | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |     2060000 | PA      | $1831263.40   | 0.46%             | 2023-10-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  6940000000 | PA      | $1945205.29   | 0.49%             | 2030-11-14      | Fixed         | 16.00%                | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |   120500000 | PA      | $1118279.16   | 0.28%             | 2025-09-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  9338100000 | PA      | $2759403.00   | 0.69%             | 2031-04-03      | Fixed         | 17.00%                | No            |                  2 | On Loan: No      |
| Republic of Iraq                             | Iraq International Bonds                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |     1585000 | PA      | $1573645.06   | 0.40%             | 2023-03-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GEORGIA T-BOND                               | Georgia Treasury Bonds                                             | CUSIP: 000000000<br>LEI: 2138007T8RLEVDMLQ257 | Long             | DBT              | NUSS              | GE        |     5560000 | PA      | $2097356.48   | 0.53%             | 2023-02-04      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |   150000000 | PA      | $1713987.23   | 0.43%             | 2024-09-24      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF GABON                            | Gabon Government International Bonds                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |     1505000 | PA      | $1266403.32   | 0.32%             | 2031-11-24      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |   114100000 | PA      | $4307460.13   | 1.08%             | 2026-01-25      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| DOM REP CB NOTES                             | Dominican Republic Central Bank Notes                              | CUSIP: 000000000<br>LEI: 549300DTVR57NON7XL66 | Long             | DBT              | NUSS              | DO        |   105000000 | PA      | $1726433.70   | 0.43%             | 2025-12-05      | Fixed         | 13.00%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF RWANDA                           | Rwanda International Government Bonds                              | CUSIP: 000000000<br>LEI: 213800DQC28OBRZDYJ87 | Long             | DBT              | NUSS              | RW        |     1400000 | PA      | $1065495.20   | 0.27%             | 2031-08-09      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |      449000 | PA      | $210989.06    | 0.05%             | 2041-02-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                     | Uruguay Government International Bonds                             | CUSIP: 917288BM3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    81798000 | PA      | $1898961.46   | 0.48%             | 2031-05-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| INTL FINANCE CORP                            | International Finance Corp.                                        | CUSIP: 000000000<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        | 12000000000 | PA      | $1006439.04   | 0.25%             | 2024-10-18      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Republic of El Salvador                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     1287000 | PA      | $656370.00    | 0.16%             | 2032-04-10      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                        | Costa Rica Government International Bonds                          | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     2500000 | PA      | $2818750.00   | 0.71%             | 2029-02-21      | Fixed         | 9.20%                 | Yes           |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        | 13700000000 | PA      | $1685310.01   | 0.42%             | 2031-02-14      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                            | Ghana Government International Bonds                               | CUSIP: 37443GAL5<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1641000 | PA      | $607170.00    | 0.15%             | 2029-04-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                            | Tunisian Republic                                                  | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |      800000 | PA      | $652133.64    | 0.16%             | 2024-02-17      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                          | Nigeria Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      827000 | PA      | $687557.88    | 0.17%             | 2029-03-24      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     2600000 | PA      | $1355861.44   | 0.34%             | 2052-07-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                          | Ecuador Government International Bonds                             | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     3789045 | PA      | $1837051.74   | 0.46%             | 2035-07-31      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| GHANA NOTES                                  | Ghana Treasury Notes                                               | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     3300000 | PA      | $245184.92    | 0.06%             | 2023-07-31      | Fixed         | 17.25%                | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     5743000 | PA      | $4376346.86   | 1.10%             | 2031-04-11      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    23900000 | PA      | $191263.77    | 0.05%             | 2023-09-18      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                      | Pakistan Government International Bonds                            | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     2376000 | PA      | $987940.80    | 0.25%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  7800000000 | PA      | $2181746.28   | 0.55%             | 2035-11-08      | Fixed         | 16.25%                | No            |                  2 | On Loan: No      |
| SWAP MERRILL LYNCH COC                       | Collateral Position                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |      130000 | NS      | $130000.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF SENEGAL                          | Senegal Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |      843000 | PA      | $640843.72    | 0.16%             | 2037-06-08      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Zambia                           | Zambia Government International Bonds                              | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |      642000 | PA      | $321077.04    | 0.08%             | 2024-04-14      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GABON                            | Gabon Government International Bonds                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |     4168000 | PA      | $3497785.60   | 0.88%             | 2031-02-06      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    24550000 | PA      | $186010.54    | 0.05%             | 2029-04-02      | Fixed         | 10.85%                | No            |                  2 | On Loan: No      |
| AXIAN TELECOM                                | Axian Telecom                                                      | CUSIP: 05466AAA1<br>LEI: 984500C6FIA50FZSE337 | Long             | DBT              | CORP              | MU        |      838000 | PA      | $772007.50    | 0.19%             | 2027-02-16      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                | Purchased USD / Sold EUR                                           | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-7108.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  4925000000 | PA      | $1249087.57   | 0.31%             | 2034-06-22      | Fixed         | 14.25%                | No            |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 000000000<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |    40000000 | PA      | $611129.89    | 0.15%             | 2025-11-13      | Fixed         | 14.50%                | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     6900000 | PA      | $4468992.00   | 1.12%             | 2061-02-16      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| NEDER FINANCIERINGS-MAAT                     | Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV | CUSIP: 000000000<br>LEI: XTC5E2QFTEF0435JWL77 | Long             | DBT              | NUSS              | NL        |     1000000 | PA      | $1013169.00   | 0.25%             | 2023-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |     2700000 | PA      | $2061990.00   | 0.52%             | 2026-08-15      | Fixed         | 18.50%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                          | Ecuador Government International Bonds                             | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     1625550 | PA      | $681865.69    | 0.17%             | 2040-07-31      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| UNITED BANK FOR AFRICA P                     | United Bank for Africa PLC                                         | CUSIP: 91339U2A1<br>LEI: 0292002067E3RH4D8768 | Long             | DBT              | CORP              | NG        |      997000 | PA      | $892315.00    | 0.22%             | 2026-11-19      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                           | Angolan Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      800000 | PA      | $699480.00    | 0.18%             | 2049-11-26      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Frontera Capital BV                          | Frontera Capital BV                                                | CUSIP: 000000000<br>LEI: 2138002PSD6UU8BI9K98 | Long             | SN               | CORP              | NL        |       86538 | PA      | $82003.84     | 0.02%             | 2023-02-15      | Fixed         | 10.78%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF CAMEROON                         | Republic of Cameroon International Bonds                           | CUSIP: 000000000<br>LEI: 54930021BO6NHYGBBV24 | Long             | DBT              | NUSS              | CM        |     7172000 | PA      | $5938913.39   | 1.49%             | 2032-07-07      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| NIGERIA GOVERNMENT BOND                      | Nigeria Government Bonds                                           | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   290000000 | PA      | $692023.26    | 0.17%             | 2027-03-17      | Fixed         | 16.29%                | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                        | Republic of Ghana Government Bonds                                 | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     3580000 | PA      | $247540.07    | 0.06%             | 2023-12-18      | Fixed         | 19.25%                | No            |                  2 | On Loan: No      |
| Republic of Angola                           | Angolan Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     4570000 | PA      | $4320935.00   | 1.09%             | 2028-05-09      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     3800000 | PA      | $102792.05    | 0.03%             | 2031-01-25      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| LIQUID TELECOM FINANCE                       | Liquid Telecommunications Financing PLC                            | CUSIP: 536333AB3<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | CORP              | GB        |     1000000 | PA      | $762780.00    | 0.19%             | 2026-09-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NIGERIA T-BILL                               | Nigeria Treasury Bills                                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   133000000 | PA      | $283683.30    | 0.07%             | 2023-09-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Republic of El Salvador                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     3124000 | PA      | $1710854.42   | 0.43%             | 2027-01-18      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  2200000000 | PA      | $580182.85    | 0.15%             | 2029-08-23      | Fixed         | 14.25%                | No            |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   124600000 | PA      | $975006.79    | 0.24%             | 2028-11-27      | Fixed         | 13.21%                | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | SN               | CORP              | NL        |      650000 | PA      | $448825.00    | 0.11%             | 2027-09-03      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| Republic of Sri Lanka                        | Sri Lanka Government International Bonds                           | CUSIP: 000000000<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |      871000 | PA      | $295009.92    | 0.07%             | 2029-03-14      | Fixed         | 7.85%                 | Yes           |                  2 | On Loan: No      |
| MALDIVES SUKUK ISSUANCE                      | Maldives Sukuk Issuance Ltd.                                       | CUSIP: 56113LAA7<br>LEI: 549300RPRH3HJCZQP933 | Long             | DBT              | NUSS              | KY        |     2827000 | PA      | $2426130.58   | 0.61%             | 2026-04-08      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Republic of Gabon                            | Gabon Government International Bonds                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |     1676000 | PA      | $1624245.12   | 0.41%             | 2025-06-16      | Fixed         | 6.95%                 | Yes           |                  2 | On Loan: No      |
| Republic of Ghana                            | Ghana Government International Bonds                               | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     5690000 | PA      | $2091075.00   | 0.53%             | 2032-03-26      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                            | Republic of Kenya Government International Bonds                   | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      775000 | PA      | $683255.50    | 0.17%             | 2028-02-28      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| IVORY COAST                                  | Ivory Coast Government International Bonds                         | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     2028000 | PA      | $1682896.32   | 0.42%             | 2040-10-17      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                            | Republic of Kenya Government International Bonds                   | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     1484000 | PA      | $1289328.88   | 0.32%             | 2032-05-22      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SWAP UBS COC                                 | Collateral Position                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     1310000 | NS      | $1310000.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Arab Republic of Egypt                       | Egypt Government International Bonds                               | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     2894000 | PA      | $2209000.21   | 0.55%             | 2030-04-16      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                     | Petroleos de Venezuela SA                                          | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |     1250000 | PA      | $60937.50     | 0.02%             | 2024-05-16      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    31000000 | PA      | $232704.45    | 0.06%             | 2026-05-25      | Fixed         | 10.20%                | No            |                  2 | On Loan: No      |
| ZAMBIA GOVERNMENT BOND                       | Zambia Government Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     7800000 | PA      | $333698.49    | 0.08%             | 2025-04-23      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| REP OF ANGOLA(AVENIR IS)                     | Republic of Angola Via Avenir Issuer II Ireland DAC                | CUSIP: 000000000<br>LEI: 635400VEZIQKZPR7KU35 | Long             | DBT              | NUSS              | IE        |     2217857 | PA      | $2079241.07   | 0.52%             | 2027-02-19      | Fixed         | 6.93%                 | Yes           |                  2 | On Loan: No      |
| GEORGIA T-BOND                               | Georgia Treasury Bonds                                             | CUSIP: 000000000<br>LEI: 2138007T8RLEVDMLQ257 | Long             | DBT              | NUSS              | GE        |     1400000 | PA      | $530869.76    | 0.13%             | 2024-10-06      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| FRONTERA CAPITAL GROUP B                     | Frontera Capital Group BV                                          | CUSIP: 000000000<br>LEI: 7245006XUFKX4KNGKS70 | Long             | DBT              | CORP              | NL        | 16600000000 | PA      | $2302432.34   | 0.58%             | 2032-11-22      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Republic of El Salvador                      | El Salvador Government International Bonds                         | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |      941000 | PA      | $498287.96    | 0.13%             | 2029-02-28      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                      | Republic of Armenia Treasury Bonds                                 | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |  1575000000 | PA      | $3832277.95   | 0.96%             | 2024-04-29      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                          | Benin Government International Bonds                               | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |     1360000 | PA      | $1070895.25   | 0.27%             | 2052-01-19      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GABON                            | Gabon Government International Bonds                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |     2839000 | PA      | $2382488.80   | 0.60%             | 2031-02-06      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| KENYA INFRASTUCTURE BOND                     | Republic of Kenya Infrastructure Bonds                             | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   112000000 | PA      | $819805.59    | 0.21%             | 2035-10-08      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| HONDURAS GOVERNMENT                          | Honduras Government International Bonds                            | CUSIP: 000000000<br>LEI: 5493002DW1JNBNG17615 | Long             | DBT              | NUSS              | HN        |      159000 | PA      | $129098.45    | 0.03%             | 2030-06-24      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND                        | Egypt Government Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    10000000 | PA      | $278649.83    | 0.07%             | 2027-11-07      | Fixed         | 15.70%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                           | Angolan Government International Bonds                             | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     3475000 | PA      | $3209753.25   | 0.81%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                     | Citigroup Global Markets Holdings, Inc.                            | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |  1060000000 | PA      | $2300596.85   | 0.58%             | 2026-01-26      | Fixed         | 12.50%                | Yes           |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEOKAM                     | Kazakhstan Government Bonds - MEOKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |   280000000 | PA      | $565572.03    | 0.14%             | 2026-09-16      | Fixed         | 13.90%                | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                     | Kazakhstan Government Bonds - MEUKAM                               | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |  1040000000 | PA      | $2063436.13   | 0.52%             | 2024-05-20      | Fixed         | 8.05%                 | No            |                  2 | On Loan: No      |
| Republic of Angola                           | Angolan Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     1892000 | PA      | $1683993.52   | 0.42%             | 2048-05-08      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Republic Of Mozambique                       | Mozambique International Bonds                                     | CUSIP: 000000000<br>LEI: 213800759WLKYIKPER73 | Long             | DBT              | NUSS              | MZ        |     2353000 | PA      | $1874211.56   | 0.47%             | 2031-09-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria OMO Bills                                                  | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    60000000 | PA      | $127439.61    | 0.03%             | 2023-06-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Republic of Sri Lanka                        | Sri Lanka Government International Bonds                           | CUSIP: 000000000<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |     1342000 | PA      | $454468.77    | 0.11%             | 2028-04-18      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Zambezi BV                                   | Zambezi BV                                                         | CUSIP: 000000000<br>LEI: 724500IN99XG3EVGLT10 | Long             | SN               | CORP              | NL        |     1159400 | PA      | $1104444.44   | 0.28%             | 2024-04-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Republic of Senegal                          | Senegal Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |      632000 | PA      | $471825.92    | 0.12%             | 2048-03-13      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                            | Ghana Government International Bonds                               | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     1679000 | PA      | $605010.86    | 0.15%             | 2061-03-11      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| BOI FINANCE BV                               | BOI Finance BV                                                     | CUSIP: 000000000<br>LEI: 724500ZH3H2YACBUNF38 | Long             | DBT              | CORP              | NL        |      220000 | PA      | $199709.51    | 0.05%             | 2027-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PNG GOVT INTL BOND                           | Papua New Guinea Government International Bonds                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | PG        |     3251000 | PA      | $2965387.33   | 0.74%             | 2028-10-04      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Merrill Lynch International                  | Purchased USD / Sold EUR                                           | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |           1 | NC      | $-130585.25   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                      | Republic of Armenia Treasury Bonds                                 | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |   385000000 | PA      | $853362.75    | 0.21%             | 2026-04-29      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ICBC STANDARD BANK PLC                       | ICBC Standard Bank PLC                                             | CUSIP: 000000000<br>LEI: F01VVKN4DRF2NWKGQ283 | Long             | SN               | CORP              | GB        |   300000000 | PA      | $634702.54    | 0.16%             | 2024-03-18      | Fixed         | 16.50%                | No            |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  8571500000 | PA      | $2360954.10   | 0.59%             | 2024-01-18      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| IVORY COAST                                  | Ivory Coast Government International Bonds                         | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     1721000 | PA      | $1578737.73   | 0.40%             | 2030-03-22      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Republic of Iraq                             | Iraq International Bonds                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |     1343125 | PA      | $1242954.74   | 0.31%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                       | Republic of Uganda Government Bonds                                | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |  4800000000 | PA      | $1412988.43   | 0.35%             | 2040-11-01      | Fixed         | 17.50%                | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria              | Nigeria Government International Bonds                             | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     2586000 | PA      | $1945965.00   | 0.49%             | 2032-02-16      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                           | Serbia International Bonds                                         | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     1900000 | PA      | $1256454.41   | 0.32%             | 2036-09-23      | Fixed         | 2.05%                 | Yes           |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                      | Pakistan Government International Bonds                            | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     1180000 | PA      | $490644.00    | 0.12%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Republic of Zambia                           | Zambia Government International Bonds                              | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     7341000 | PA      | $3645261.64   | 0.92%             | 2027-07-30      | Fixed         | 8.97%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-21

**Name of Applicant:** AMERICAN BEACON FUNDS

**Signature:** Sonia Bates

**Name of Signer:** Sonia Bates

**Title:** Treasurer