# EDGAR Filing Document

**Accession Number:** 0000914775
**File Stem:** 0000940400-25-002982
**Filing Date:** 2025-9
**Character Count:** 119994
**Document Hash:** be3c0deede278c9581df1ed23f3179cc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002982.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000940400-25-002982

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BNY Mellon Advantage Funds, Inc.
- **CENTRAL INDEX KEY:** 0000914775

**ORGANIZATION NAME:**
- **EIN:** 133851784
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07123
- **FILM NUMBER:** 251350512

**BUSINESS ADDRESS:**
- **STREET 1:** BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286
- **BUSINESS PHONE:** 212-922-6400

**MAIL ADDRESS:**
- **STREET 1:** BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Advantage Funds, Inc.
- **DATE OF NAME CHANGE:** 20060502

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREYFUS GROWTH & VALUE FUNDS INC
- **DATE OF NAME CHANGE:** 19951004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREYFUS FOCUS FUNDS INC
- **DATE OF NAME CHANGE:** 19940304

## Series and Classes Contracts Data

### BNY Mellon Dynamic Total Return Fund (Series ID: S000011967)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032670 | Class A      | AVGAX           |
| C000032716 | Class C      | AVGCX           |
| C000032717 | Class I      | AVGRX           |
| C000130429 | Class Y      | AVGYX           |

## Nport-Ex

BNY Mellon Dynamic Total Return Fund

CONSOLIDATED STATEMENT OF INVESTMENTS

July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Description | Shares | Value ($) |
| **Exchange-Traded Funds — 4.6%** | **Exchange-Traded Funds — 4.6%** | **Exchange-Traded Funds — 4.6%** |
| **Registered Investment Companies — 4.6%** | **Registered Investment Companies — 4.6%** | **Registered Investment Companies — 4.6%** |
| &nbsp;&nbsp;&nbsp; VanEck J. P. Morgan EM Local Currency Bond ETF <br>(cost $3,458,676)<br>| 142540 | **3544970** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description/Number of Contracts | Exercise <br>Price<br>| Expiration <br>Date<br>| Notional <br>Amount ($)<br>|  |
| **Options Purchased — 1.0%** | **Options Purchased — 1.0%** | **Options Purchased — 1.0%** | **Options Purchased — 1.0%** | **Options Purchased — 1.0%** |
| **Call Options — .9%** | **Call Options — .9%** | **Call Options — .9%** | **Call Options — .9%** | **Call Options — .9%** |
| S&P 500 E-Mini 3rd Week September Future, Contracts 29 | 6050 | 8/15/2025 | 8772500 | 485387 |
| S&P 500 E-Mini September Future, Contracts 29 | 6375 | 9/19/2025 | 9243750 | 177625 |
|  |  |  |  | **663012** |
| **Put Options — .1%** | **Put Options — .1%** | **Put Options — .1%** | **Put Options — .1%** | **Put Options — .1%** |
| S&P 500 E-Mini September Future, Contracts 25 | 6150 | 9/19/2025 | 7687500 | **81563** |
| &nbsp;&nbsp;&nbsp; **Total Options Purchased** <br>(cost $376,684)<br>|  |  |  | **744575** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Annualized <br>Yield (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>|  |
| **Short-Term Investments — 80.1%** | **Short-Term Investments — 80.1%** | **Short-Term Investments — 80.1%** | **Short-Term Investments — 80.1%** | **Short-Term Investments — 80.1%** |
| **U.S. Government Securities — 80.1%** |  |  |  |  |
| U.S. Treasury Bills<sup>(a)</sup> <br>| 4.22 | 8/7/2025 | 47263700 | 47230117 |
| U.S. Treasury Bills<sup>(a),(b)</sup> <br>| 4.22 | 8/7/2025 | 14500000 | 14489697 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $61,720,933)<br>|  |  |  | **61719814** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — 6.4%** | **Investment Companies — 6.4%** | **Investment Companies — 6.4%** | **Investment Companies — 6.4%** |
| **Registered Investment Companies — 6.4%** | **Registered Investment Companies — 6.4%** | **Registered Investment Companies — 6.4%** | **Registered Investment Companies — 6.4%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares<sup>(c)</sup> <br>(cost $4,976,471)<br>| 4.43 | 4976471 | **4976471** |
| **Total Investments** (cost $70,532,764) | **Total Investments** (cost $70,532,764) | **92.1%** | **70985830** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** | **7.9%** | **6105769** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **77091599** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ETF—Exchange-Traded Fund*<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> *Security is a discount security. Income is recognized through the accretion of discount.*

<sup>(b)</sup> *These securities are wholly-owned by the Subsidiary referenced in Note 1.*

<sup>(c)</sup> *Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's* *prospectus.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures** | **Futures** | **Futures** | **Futures** | **Futures** | **Futures** |
| Description | Number of <br>Contracts<br>| Expiration | Notional <br>Value ($)<br>| Market <br>Value ($)<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| **Futures Long** |  |  |  |  |  |
| 10 Year U.S. Treasury Note | &nbsp;&nbsp; 83 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp; 9177495 | &nbsp;&nbsp; 9218188 | &nbsp;&nbsp;&nbsp;&nbsp; 40693 |
| 10-Year Mini Japanese Government Bond | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 9/11/2025 | &nbsp;&nbsp; 2668055<sup>(a)</sup> <br>| &nbsp;&nbsp; 2654423 | &nbsp;&nbsp;&nbsp; (13632) |
| Australian 10-Year Treasury Bond | &nbsp;&nbsp; 78 | &nbsp;&nbsp; 9/15/2025 | &nbsp;&nbsp; 5708080<sup>(a)</sup> <br>| &nbsp;&nbsp; 5703757 | &nbsp;&nbsp;&nbsp;&nbsp; (4323) |

---

**3**

------

*CONSOLIDATED STATEMENT OF INVESTMENTS (Unaudited) (continued)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** |
| Description | Number of<br> Contracts<br>| Expiration | Notional<br> Value ($)<br>| Market<br> Value ($)<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Futures Long (continued)** |  |  |  |  |  |
| Brent Crude Oil | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 11/28/2025 | &nbsp;&nbsp;&nbsp; 480970<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 487340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6370 |
| Canadian 10 Year Bond | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 9/18/2025 | &nbsp;&nbsp; 2799758<sup>(a)</sup> <br>| &nbsp;&nbsp; 2783372 | &nbsp;&nbsp;&nbsp; (16386) |
| Copper | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 12/29/2025 | &nbsp;&nbsp; 1286152<sup>(b)</sup> <br>| &nbsp;&nbsp; 1216463 | &nbsp;&nbsp;&nbsp; (69689) |
| Crude Oil WTI | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 63814<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 66110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2296 |
| Crude Oil WTI | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; 11/20/2025 | &nbsp;&nbsp;&nbsp; 251654<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 266400 | &nbsp;&nbsp;&nbsp;&nbsp; 14746 |
| Euro Stoxx 50 Index | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp; 241831<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 243760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1929 |
| FTSE 100 | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp; 2623594<sup>(a)</sup> <br>| &nbsp;&nbsp; 2650914 | &nbsp;&nbsp;&nbsp;&nbsp; 27320 |
| Gasoline | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 78972<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 80963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1991 |
| Gasoline | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; 11/28/2025 | &nbsp;&nbsp;&nbsp; 626933<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 652378 | &nbsp;&nbsp;&nbsp;&nbsp; 25445 |
| Hang Seng Index | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 8/28/2025 | &nbsp;&nbsp;&nbsp; 162605<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 157618 | &nbsp;&nbsp;&nbsp;&nbsp; (4987) |
| Hard Red Winter Wheat | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp; 192217<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 190663 | &nbsp;&nbsp;&nbsp;&nbsp; (1554) |
| IBEX 35 Index | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 8/15/2025 | &nbsp;&nbsp; 1760065<sup>(a)</sup> <br>| &nbsp;&nbsp; 1809707 | &nbsp;&nbsp;&nbsp;&nbsp; 49642 |
| LME Primary Aluminum | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; 1760554<sup>(b)</sup> <br>| &nbsp;&nbsp; 1794702 | &nbsp;&nbsp;&nbsp;&nbsp; 34148 |
| LME Primary Aluminum | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 12/17/2025 | &nbsp;&nbsp; 1098691<sup>(b)</sup> <br>| &nbsp;&nbsp; 1091766 | &nbsp;&nbsp;&nbsp;&nbsp; (6925) |
| LME Primary Nickel | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 180439<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 178066 | &nbsp;&nbsp;&nbsp;&nbsp; (2373) |
| LME Refined Pig Lead | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 544824<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 536803 | &nbsp;&nbsp;&nbsp;&nbsp; (8021) |
| LME Zinc | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 616476<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 621455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4979 |
| LME Zinc | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 12/17/2025 | &nbsp;&nbsp; 1054232<sup>(b)</sup> <br>| &nbsp;&nbsp; 1037906 | &nbsp;&nbsp;&nbsp; (16326) |
| Long Gilt | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 9/26/2025 | &nbsp;&nbsp; 8628288<sup>(a)</sup> <br>| &nbsp;&nbsp; 8641488 | &nbsp;&nbsp;&nbsp;&nbsp; 13200 |
| Low Sulphur Gas Oil | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 64953<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 66850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1897 |
| Low Sulphur Gas Oil | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 12/11/2025 | &nbsp;&nbsp; 2907201<sup>(b)</sup> <br>| &nbsp;&nbsp; 2897125 | &nbsp;&nbsp;&nbsp; (10076) |
| Natural Gas | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 12/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 46573<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 44970 | &nbsp;&nbsp;&nbsp;&nbsp; (1603) |
| NY Harbor ULSD | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 95415<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 98414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2999 |
| NY Harbor ULSD | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 11/28/2025 | &nbsp;&nbsp; 2150827<sup>(b)</sup> <br>| &nbsp;&nbsp; 2174080 | &nbsp;&nbsp;&nbsp;&nbsp; 23253 |
| Platinum | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; 10/29/2025 | &nbsp;&nbsp;&nbsp; 176313<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 194865 | &nbsp;&nbsp;&nbsp;&nbsp; 18552 |
| S&P 500 E-Mini | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp; 6212996 | &nbsp;&nbsp; 6374250 | &nbsp;&nbsp;&nbsp;&nbsp; 161254 |
| SPI 200 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 9/18/2025 | &nbsp;&nbsp;&nbsp; 138238<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 139825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1587 |
| Tokyo Topix Index | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; 9/11/2025 | &nbsp;&nbsp;&nbsp; 748561<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 782228 | &nbsp;&nbsp;&nbsp;&nbsp; 33667 |
| **Futures Short** |  |  |  |  |  |
| CAC 40 10 Euro | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 8/15/2025 | &nbsp;&nbsp; 2590668<sup>(a)</sup> <br>| &nbsp;&nbsp; 2574279 | &nbsp;&nbsp;&nbsp;&nbsp; 16389 |
| Cocoa | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 12/15/2025 | &nbsp;&nbsp;&nbsp; 833708<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 851510 | &nbsp;&nbsp;&nbsp; (17802) |
| Coffee "C" | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; 12/18/2025 | &nbsp;&nbsp;&nbsp; 626783<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 649575 | &nbsp;&nbsp;&nbsp; (22792) |
| Corn No.2 Yellow | &nbsp;&nbsp; 97 | &nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp; 2011325<sup>(b)</sup> <br>| &nbsp;&nbsp; 2006688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4637 |
| Cotton No.2 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 12/8/2025 | &nbsp;&nbsp;&nbsp; 609870<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 605250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4620 |
| DAX Index | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp;&nbsp; 672152<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 689313 | &nbsp;&nbsp;&nbsp; (17161) |
| Euro-Bund | &nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 9/8/2025 | &nbsp;&nbsp; 7167460<sup>(a)</sup> <br>| &nbsp;&nbsp; 7104655 | &nbsp;&nbsp;&nbsp;&nbsp; 62805 |
| FTSE/MIB Index | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp; 2283158<sup>(a)</sup> <br>| &nbsp;&nbsp; 2345737 | &nbsp;&nbsp;&nbsp; (62579) |
| Gold 100 oz | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 12/29/2025 | &nbsp;&nbsp;&nbsp; 667997<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 669720 | &nbsp;&nbsp;&nbsp;&nbsp; (1723) |
| Lean Hog | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp; 229556<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 228830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 726 |
| Live Cattle | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; 10/31/2025 | &nbsp;&nbsp;&nbsp; 256120<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 267780 | &nbsp;&nbsp;&nbsp; (11660) |
| Live Cattle | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 86906<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 89570 | &nbsp;&nbsp;&nbsp;&nbsp; (2664) |
| LME Primary Aluminum | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; 1758017<sup>(b)</sup> <br>| &nbsp;&nbsp; 1794702 | &nbsp;&nbsp;&nbsp; (36685) |
| LME Primary Nickel | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 190960<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 178066 | &nbsp;&nbsp;&nbsp;&nbsp; 12894 |
| LME Primary Nickel | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 12/17/2025 | &nbsp;&nbsp;&nbsp; 182808<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 180421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2387 |
| LME Refined Pig Lead | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 475208<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 488003 | &nbsp;&nbsp;&nbsp; (12795) |

---

**4**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** |
| Description | Number of<br> Contracts<br>| Expiration | Notional<br> Value ($)<br>| Market<br> Value ($)<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Futures Short (continued)** |  |  |  |  |  |
| LME Zinc | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 613436<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 621455 | &nbsp;&nbsp;&nbsp;&nbsp; (8019) |
| LME Zinc | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 12/17/2025 | &nbsp;&nbsp;&nbsp; 617874<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 622744 | &nbsp;&nbsp;&nbsp;&nbsp; (4870) |
| Natural Gas | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 11/25/2025 | &nbsp;&nbsp;&nbsp; 793350<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 709410 | &nbsp;&nbsp;&nbsp;&nbsp; 83940 |
| NYMEX Palladium | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 12/29/2025 | &nbsp;&nbsp;&nbsp; 656733<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 609250 | &nbsp;&nbsp;&nbsp;&nbsp; 47483 |
| S&P/TSX 60 Index | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 9/18/2025 | &nbsp;&nbsp;&nbsp; 469474<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 468043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1431 |
| Silver | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 12/29/2025 | &nbsp;&nbsp;&nbsp; 381851<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 371910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9941 |
| Soybean | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 51221<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 50375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 |
| Soybean | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 11/14/2025 | &nbsp;&nbsp; 2029650<sup>(b)</sup> <br>| &nbsp;&nbsp; 1978500 | &nbsp;&nbsp;&nbsp;&nbsp; 51150 |
| Soybean Meal | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp; 396709<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 386400 | &nbsp;&nbsp;&nbsp;&nbsp; 10309 |
| Soybean Meal | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 28686<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 27970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 716 |
| Soybean Oil | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 32078<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 32910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (832) |
| Soybean Oil | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp; 3706888<sup>(b)</sup> <br>| &nbsp;&nbsp; 3711372 | &nbsp;&nbsp;&nbsp;&nbsp; (4484) |
| Sugar No.11 | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 9/30/2025 | &nbsp;&nbsp;&nbsp; 614103<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 604296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9807 |
| Sugar No.11 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 2/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 37827<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 38013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (186) |
| Wheat | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp; 310672<sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp; 298375 | &nbsp;&nbsp;&nbsp;&nbsp; 12297 |
| **Gross Unrealized Appreciation** |  |  |  |  | &nbsp;&nbsp; **798346** |
| **Gross Unrealized Depreciation** |  |  |  |  | &nbsp;&nbsp; **(360147)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> *Notional amounts in foreign currency have been converted to USD using relevant foreign exchange rates.*

<sup>(b)</sup> *These securities are wholly-owned by the Subsidiary referenced in Note 1.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Options Written** |  |  |  |  |
| Description/Contracts | Exercise Price | Expiration <br>Date<br>| Notional <br>Amount ($)<br>| Value ($) |
| **Put Options:** |  |  |  |  |
| S&P 500 E-Mini September Future, Contracts 25 | &nbsp;&nbsp; 5475 | &nbsp;&nbsp; 9/19/2025 | &nbsp;&nbsp; 6843750 | &nbsp;&nbsp; (16875) |
| &nbsp;&nbsp;&nbsp; **Total Options Written** <br>(premiums received $41,866)<br>|  |  |  | &nbsp;&nbsp; **(16875)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| Counterparty/ <br>Purchased <br>Currency<br>| Purchased <br>Currency <br>Amounts<br>| &nbsp;&nbsp; Currency <br>Sold<br>| Sold <br>Currency <br>Amounts<br>| Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92687 | Polish Zloty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2835 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4947148 | New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8190000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp; 113982 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1421899 | British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1063000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 17376 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465068 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571 |
| Brazilian Real | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3370000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 606770 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (12329) |
| Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 874000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1111690 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (29102) |
| Indonesian Rupiah | &nbsp;&nbsp; 9017154000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 552505 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (5205) |
| Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2052000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2354589 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (5222) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1765080 | Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2711000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 21253 |
| **Citigroup Global Markets Inc.** | **Citigroup Global Markets Inc.** | **Citigroup Global Markets Inc.** | **Citigroup Global Markets Inc.** | **Citigroup Global Markets Inc.** | **Citigroup Global Markets Inc.** |
| Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3013000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970955 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (32869) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 890638 | Chilean Peso | &nbsp;&nbsp;&nbsp; 836754000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 30275 |

---

**5**

------

*CONSOLIDATED STATEMENT OF INVESTMENTS (Unaudited) (continued)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** |
| Counterparty/<br> Purchased<br> Currency<br>| Purchased<br> Currency<br> Amounts<br>| &nbsp;&nbsp; Currency<br> Sold<br>| Sold<br> Currency<br> Amounts<br>| Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Citigroup Global Markets Inc. (continued)** | **Citigroup Global Markets Inc. (continued)** | **Citigroup Global Markets Inc. (continued)** | **Citigroup Global Markets Inc. (continued)** | **Citigroup Global Markets Inc. (continued)** | **Citigroup Global Markets Inc. (continued)** |
| New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1592000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949669 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (10182) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1065379 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 18711 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2488465 | Israeli Shekel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8671000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (65031) |
| British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384559 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (7993) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5365793 | Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8229874 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 71999 |
| Brazilian Real | &nbsp;&nbsp;&nbsp;&nbsp; 26560000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4670465 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 14505 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1413687 | Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1933000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15320 |
| Indian Rupee | &nbsp;&nbsp;&nbsp; 150894000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1756761 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (38023) |
| Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp; 12169000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1262876 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (15838) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757337 | Indian Rupee | &nbsp;&nbsp;&nbsp;&nbsp; 65131000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15471 |
| Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1838000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193249 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (4897) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6595758 | Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5680000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 92634 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3830786 | South Korean Won | &nbsp;&nbsp; 5211057000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 62477 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18229 | Philippine Peso | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1021000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1902710 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp; 18113000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 46551 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194605 | British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2032470 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp; 19330915 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 51504 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155848 | Indonesian Rupiah | &nbsp;&nbsp; 2540010000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1681 |
| **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** |
| South Korean Won | &nbsp;&nbsp;&nbsp; 171189000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125221 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1427) |
| Malaysian Ringgit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69145 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (313) |
| Hungarian Forint | &nbsp;&nbsp;&nbsp; 182936000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 521251 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (598) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 342124 | Polish Zloty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1273000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2712 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433900 | New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7826 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2447753 | British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1801000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 68124 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168954 | Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1697000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4761 |
| Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7122000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8361723 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (207633) |
| Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp; 34178000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3431814 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (124922) |
| Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34046 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (946) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3732289 | Malaysian Ringgit | &nbsp;&nbsp;&nbsp;&nbsp; 15726000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 37962 |
| Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99424 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1039) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787960 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7495000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 19898 |
| **HSBC Securities (USA) Inc.** | **HSBC Securities (USA) Inc.** | **HSBC Securities (USA) Inc.** | **HSBC Securities (USA) Inc.** | **HSBC Securities (USA) Inc.** | **HSBC Securities (USA) Inc.** |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67527 | Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66476 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 |
| **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** |
| Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39469 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (875) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169728 | Philippine Peso | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9620000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5020 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1013298 | British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 18372 |
| **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** |
| Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 992371 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (18048) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720946 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 14911 |
| Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp; 10176218 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1008724 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (24125) |
| Mexican Peso | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3857000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204596 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1218) |
| Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345617 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (5611) |

---

**6**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** |
| Counterparty/<br> Purchased<br> Currency<br>| Purchased<br> Currency<br> Amounts<br>| &nbsp;&nbsp; Currency<br> Sold<br>| Sold<br> Currency<br> Amounts<br>| Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Morgan Stanley & Co. LLC (continued)** | **Morgan Stanley & Co. LLC (continued)** | **Morgan Stanley & Co. LLC (continued)** | **Morgan Stanley & Co. LLC (continued)** | **Morgan Stanley & Co. LLC (continued)** | **Morgan Stanley & Co. LLC (continued)** |
| British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 388365 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (10478) |
| South African Rand | &nbsp;&nbsp;&nbsp;&nbsp; 19150000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1073479 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (25773) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2502749 | Czech Koruna | &nbsp;&nbsp;&nbsp;&nbsp; 53910000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (3548) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5450468 | Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7412013 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 88487 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649538 | New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1069000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 18689 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2065585 | Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1790365 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15768 |
| Mexican Peso | &nbsp;&nbsp;&nbsp;&nbsp; 58049000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3025588 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 35316 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346566 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (259) |
| **RBC Capital Markets, LLC** | **RBC Capital Markets, LLC** | **RBC Capital Markets, LLC** | **RBC Capital Markets, LLC** | **RBC Capital Markets, LLC** | **RBC Capital Markets, LLC** |
| British Pound | &nbsp;&nbsp;&nbsp;&nbsp; 13413651 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 18162913 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (439692) |
| Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3815000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2819145 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (59307) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5568759 | Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4780000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 96062 |
| New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2137817 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1294467 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (32878) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1021630 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 820000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5929 |
| Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8199000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805387 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (12093) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351182 | Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3551000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7605 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2552941 | Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3495000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 24598 |
| Japanese Yen | &nbsp;&nbsp; 1432246015 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9977280 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (427537) |
| Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246921 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 811 |
| Hungarian Forint | &nbsp;&nbsp;&nbsp;&nbsp; 51721000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150703 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (3500) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2123446 | British Pound | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1588000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 25250 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179840 | Czech Koruna | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3788000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3734 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9428590 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7636941 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (30980) |
| South African Rand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3412000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190150 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (3478) |
| Israeli Shekel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2939000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876891 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (11394) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 836420 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7947000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 22039 |
| Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2237000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456665 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp; (17734) |
| Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829732 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (7682) |
| **Standard Chartered PLC** | **Standard Chartered PLC** | **Standard Chartered PLC** | **Standard Chartered PLC** | **Standard Chartered PLC** | **Standard Chartered PLC** |
| Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80975 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; (1975) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68298 | Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100697 | Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 |
| Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24200 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (327) |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65592 | New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39201 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (803) |

---

**7**

------

*CONSOLIDATED STATEMENT OF INVESTMENTS (Unaudited) (continued)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** |
| Counterparty/<br> Purchased<br> Currency<br>| Purchased<br> Currency<br> Amounts<br>| &nbsp;&nbsp; Currency<br> Sold<br>| Sold<br> Currency<br> Amounts<br>| Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Standard Chartered PLC (continued)** | **Standard Chartered PLC (continued)** | **Standard Chartered PLC (continued)** | **Standard Chartered PLC (continued)** | **Standard Chartered PLC (continued)** | **Standard Chartered PLC (continued)** |
| United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137705 | Japanese Yen | &nbsp;&nbsp;&nbsp;&nbsp; 20613000 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 |
| New Zealand Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54000 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32574 | &nbsp;&nbsp; 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (707) |
| **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **1103208** |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **(1703591)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **OTC Total Return Swaps** | **OTC Total Return Swaps** | **OTC Total Return Swaps** | **OTC Total Return Swaps** | **OTC Total Return Swaps** | **OTC Total Return Swaps** |
| Received <br>Reference <br>Entity<br>| &nbsp;&nbsp; Paid <br>Reference <br>Entity<br>| Counterparties | Maturity <br>Date<br>| Notional <br>Amount ($)<br>| Unrealized <br>(Depreciation) ($)<br>|
| USD - 1 Month ABGS1204 | &nbsp;&nbsp; USD 1 Month Fixed at <br> 0.20%<br>| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 9/30/2025 | &nbsp;&nbsp; 19700458 | &nbsp;&nbsp; (17321) |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **(17321)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ABGS1204—Goldman Sachs Commodity Strategy 1204* <br> *USD—United States Dollar*

*See notes to consolidated statement of investments.*

**8**

------

Consolidated Statement of Investments

BNY Mellon Dynamic Total Return Fund

July 31, 2025 (Unaudited)

The following is a summary of the inputs used as of July 31, 2025 in valuing the fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2- Other** <br>**Significant** <br>**Observable Inputs**<br>| **Level 3-** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Exchange-Traded Funds | &nbsp;&nbsp; 3544970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **3544970** |
| U.S. Treasury Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 61719814 | &nbsp;&nbsp; — | &nbsp;&nbsp; **61719814** |
| Investment Companies | &nbsp;&nbsp; 4976471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **4976471** |
|  | &nbsp;&nbsp; **8521441** | &nbsp;&nbsp; **61719814** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **70241255** |
| Other Financial Instruments: |  |  |  |  |
| Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp; 744575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **744575** |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 798346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **798346** |
| Forward Foreign Currency Exchange Contracts<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1103208 | &nbsp;&nbsp; — | &nbsp;&nbsp; **1103208** |
|  | &nbsp;&nbsp; **1542921** | &nbsp;&nbsp; **1103208** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **2646129** |
| **Liabilities ($)** |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| Options Written | &nbsp;&nbsp;&nbsp; (16875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(16875)** |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp; (360147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(360147)** |
| Forward Foreign Currency Exchange Contracts<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; (1703591) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(1703591)** |
| Swap Agreements<sup>††</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17321) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(17321)** |
|  | &nbsp;&nbsp; **(377022)** | &nbsp;&nbsp; **(1720912)** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **(2097934)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| *See Consolidated Statement of Investments for additional detailed categorizations, if any.* |
| <sup>††</sup> <br>| *Amount shown represents unrealized appreciation (depreciation) at period end.* |

---

**9**

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The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") is the exclusive reference of authoritative U.S. generally accepted accounting principles ("GAAP") recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission ("SEC") under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund's consolidated financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund's investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

**Level 1**—unadjusted quoted prices in active markets for identical investments.

**Level 2**—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

**Level 3**—significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund's investments are as follows:

The Company's Board of Directors (the "Board") has designated the Adviser as the fund's valuation designee to make all fair value determinations with respect to the fund's portfolio investments, subject to the Board's oversight and pursuant to Rule 2a-5 under the Act.

Investments in debt securities, excluding short-term investments (other than U.S. Treasury Bills), forward foreign currency exchange contracts ("forward contracts"), futures and options, are valued each business day by one or more independent pricing services (each, a "Service") approved by the Board. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of a Service are valued at the mean between the quoted bid prices (as obtained by a Service from dealers in such securities) and asked prices (as calculated by a Service based upon its evaluation of the market for such securities). Securities are valued as determined by a Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Services are engaged under the general supervision of the Board. U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by a Service. These securities are generally categorized within Level 2 of the fair value hierarchy.

Investments in exchange-traded funds are valued at the last sales price on the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Market System for which market quotations are available are valued at the official closing price or, if there is no official closing price that day, at the last sales price. For open short positions, asked prices are used for valuation purposes. Bid price is used when no asked price is available. Registered investment companies that are not traded on an exchange are valued at their net asset value. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.

Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. These securities are generally categorized within Level 2 of the fair value hierarchy.

**10**

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Fair valuing of securities may be determined with the assistance of a pricing service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant American Depositary Receipts and futures. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange.

Forward contracts are valued at the forward rate and are generally categorized within Level 2 of the fair value hierarchy.

**Derivatives:** A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at July 31, 2025 is discussed below.

**Futures:** In the normal course of pursuing its investment objective, the fund is exposed to market risk, including equity price risk, interest rate risk and commodity risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Consolidated Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Consolidated Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at July 31, 2025 are set forth in the Consolidated Statement of Investments.

**Options Transactions**: The fund purchases and writes (sells) put and call options to hedge against changes in the values of equities or as a substitute for an investment. The fund is subject to market risk in the course of pursuing its investment objectives through its investments in options contracts. A call option gives the purchaser of the option the right (but not the obligation) to buy, and obligates the writer to sell, the underlying financial instrument at the exercise price at any time during the option period, or at a specified date. Conversely, a put option gives the purchaser of the option the right (but not the obligation) to sell, and obligates the writer to buy the underlying financial instrument at the exercise price at any time during the option period, or at a specified date.

As a writer of call options, the fund receives a premium at the outset and then bears the market risk of unfavorable changes in the price of the financial instrument underlying the option. Generally, the fund realizes a gain, to the extent of the premium, if the price of the underlying financial instrument decreases between the date the option is written and the date on which the option is terminated. Generally, the fund incurs a loss if the price of the financial instrument increases between those dates. The maximum payout for those contracts is limited to the number of call option contracts written and the related strike prices, respectively. <br>As a writer of put options, the fund receives a premium at the outset and then bears the market risk of unfavorable changes in the price of the financial instrument underlying the option. Generally, the fund realizes a gain, to the extent of the premium, if the price of the underlying financial instrument increases between the date the option is written and the date on which the option is terminated. Generally, the fund incurs a loss if the price of the financial instrument decreases between those dates. The maximum payout for those contracts is limited to the number of put option contracts written and the related strike prices, respectively. <br>As a writer of an option, the fund has no control over whether the underlying financial instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the financial instrument underlying the written option. There is a risk of loss from a change in value of such options which may exceed the related premiums received. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. The Consolidated Statement of Operations reflects any unrealized gains or

**11**

------

losses which occurred during the period as well as any realized gains or losses which occurred upon the expiration or closing of the option transaction. Options purchased and written open at July 31, 2025 are set forth in the Consolidated Statement of Investments.

**Forward Foreign Currency Exchange Contracts**: The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strategy. When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract decreases between those dates. With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract increases between those dates. Any realized or unrealized gains or losses which occurred during the period are reflected in the Consolidated Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty non-performance on these forward contracts, which is generally limited to the unrealized gain on each open contract. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. Forward contracts open at July 31, 2025 are set forth in the Statement of Investments.

**Swap Agreements**: The fund enters into swap agreements to exchange the interest rate on, or return generated by, one nominal instrument for the return generated by another nominal instrument. Swap agreements are privately negotiated in the over-the-counter ("OTC") market or centrally cleared. The fund enters into these agreements to hedge certain market or interest rate risks, to manage the interest rate sensitivity (sometimes called duration) of fixed income securities, to provide a substitute for purchasing or selling particular securities or to increase potential returns.

For OTC swaps, the fund accrues for interim payments on a daily basis, with the net amount recorded within unrealized appreciation (depreciation) on swap agreements in the Consolidated Statement of Assets and Liabilities. Once the interim payments are settled in cash, the net amount is recorded as a realized gain (loss) on swaps, in addition to realized gain (loss) recorded upon the termination of swap agreements in the Consolidated Statement of Operations. Upfront payments made and/or received by the fund, are recorded as an asset and/or liability in the Consolidated Statement of Assets and Liabilities and are recorded as a realized gain or loss ratably over the agreement's term/event with the exception of forward starting interest rate swaps which are recorded as realized gains or losses on the termination date.

Upon entering into centrally cleared swap agreements, an initial margin deposit is required with a counterparty, which consists of cash or cash equivalents. The amount of these deposits is determined by the exchange on which the agreement is traded and is subject to change. The change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statement of Assets and Liabilities. Payments received from (paid to) the counterparty, including upon termination, are recorded as realized gain (loss) in the Consolidated Statement of Operations.

Fluctuations in the value of swap agreements are recorded for financial statement purposes as unrealized appreciation or depreciation on swap agreements.

**Total Return Swaps**: Total return swaps involve commitments to pay interest in exchange for a market-linked return based on a notional principal amount. To the extent the total return of the security or index underlying the transaction exceeds or falls short of the specific reference entity, the fund either receives a payment from or makes a payment to the counterparty, respectively. Total return swaps are subject to general market risk, liquidity risk, counterparty risk and credit risk. This risk is mitigated by Master Agreements between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. The underlying reference asset could be a security, an index, or basket of investments. Total return swaps open at July 31, 2025 are set forth in the Consolidated Statement of Investments.

At July 31, 2025, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $298,552, consisting of $2,463,011 gross unrealized appreciation and $2,164,459 gross unrealized depreciation.

At July 31, 2025, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Consolidated Statement of Investments).

Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.

**12**

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## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BNY Mellon Advantage Funds, Inc.

- **b. Investment Company Act file number:** 811-07123

- **c. CIK number of Registrant:** 0000914775

- **d. LEI of Registrant:** 549300SWCD16M4CV8Q16

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

  - **Street Address 1:** 240 Greenwich Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10286

  - **Telephone number:** 212-922-6400

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

- **a. Name of Series:** BNY Mellon Dynamic Total Return Fund

- **b. EDGAR series identifier (if any):** S000011967

- **c. LEI of Series:** 3IX50J1I91RC5OKDEU06

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $79051774.03

**Total Liabilities:** $1918175.31

**Net Assets:** $77133598.72

**Amount of Assets Invested in Other Investment Companies:** $18791904.95

**Cash Not Reported:** $7296664.97

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032716 | 0.82%                | 1.96%                | 0.56%                |
| Class ID C000032717 | 1.00%                | 1.98%                | 0.69%                |
| Class ID C000130429 | 0.93%                | 2.06%                | 0.62%                |
| Class ID C000032670 | 0.89%                | 1.99%                | 0.65%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $995.59                  | $23768.42                                  |
| Month 2  | $0.00                    | $97698.42                                  |
| Month 3  | $608.17                  | $-63755.05                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TREASURY BILL                                     | United States Treasury Bill                                       | CUSIP: 912797MG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  61763700 | PA      | $61719814.42  | 80.02%            | 2025-08-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/GBP FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $68123.84     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME LEAD                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        11 | NC      | $-8020.88     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | CAD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $88487.48     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | EUR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1975.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | USD/BRL FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-12329.07    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | SOYBEAN                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |        -1 | NC      | $846.32       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | EUR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $96061.73     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | LIVE CATTLE                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |        -1 | NC      | $-2663.60     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | PLN/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2711.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/IDR FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1681.15      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COMMODITY EXCHANGE, INC.                          | COPPER                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        11 | NC      | $-69689.75    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | USD/CAD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14245.32     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/MXN FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $34097.55     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | EUR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-207632.50   | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | CHF/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $811.33       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/CHF FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14905.56     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | SOYBEAN MEAL                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |        -1 | NC      | $716.32       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | NOK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4761.12      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/NZD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7825.73      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/KRW FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $62476.89     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | SOYBEAN OIL                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |      -113 | NC      | $-4483.84     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME PRI ALUM                                                      | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        17 | NC      | $-6925.46     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | S&P500 EMINI                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        29 | NC      | $177625.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME NICKEL                                                        | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         2 | NC      | $-2373.42     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | USD/AUD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-32869.08    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                            | COFFEE 'C'                                                        | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |        -6 | NC      | $-22792.15    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| MEFF RENTA VARIABLE (MADRID)                      | IBEX 35 INDX                                                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | ES        |        11 | NC      | $49641.63     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/NZD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-32877.40    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | MYR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $37961.80     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | NY HARB ULSD                                                      | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        22 | NC      | $23252.45     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US 10YR NOTE (CBT)                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        83 | NC      | $40692.63     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | NY HARB ULSD                                                      | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         1 | NC      | $2999.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | CORN                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -97 | NC      | $4637.71      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | S&P500 EMINI WEEK 3                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        29 | NC      | $485387.50    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/AUD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-17734.47    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | BRL/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14504.94     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/ILS FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-65031.44    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | ILS/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-11394.45    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/ZAR FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3477.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | KRW/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1427.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | NZD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $113982.12    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/NOK FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-24124.92    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | LIVE CATTLE                                                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |        -3 | NC      | $-11659.75    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/NZD FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $18689.28     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | KC HRW WHEAT                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |         7 | NC      | $-1554.36     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | NATURAL GAS                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         1 | NC      | $-1603.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | USD/AUD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $71225.27     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | S&P500 EMINI                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       -25 | NC      | $-16875.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME LEAD                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       -10 | NC      | $-12795.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                | FTSE 100 INDEX                                                    | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               | CORP              | GB        |        22 | NC      | $27320.34     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | CAD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-327.10      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/CAD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-59307.27    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                | LONG GILT                                                         | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        71 | NC      | $13200.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | SOYBEAN MEAL                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -14 | NC      | $10308.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24            | SPI 200                                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | AU        |         1 | NC      | $1587.03      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | USD/GBP FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7993.12     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/CAD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $24597.62     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | LEAN HOGS                                                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |        -7 | NC      | $725.45       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME NICKEL                                                        | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -2 | NC      | $12894.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/NOK FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10141.16    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EURONEXT PARIS SA                                 | CAC40 10 EURO                                                     | CUSIP: 000000000<br>LEI: 969500HMVSZ0TCV65D58 | N/A              | DE               | CORP              | FR        |       -29 | NC      | $16388.84     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America, National Association             | USD/PLN FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2835.15      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/EUR FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $15767.90     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-BUND                                                         | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -48 | NC      | $62805.35     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/CHF FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-25051.36    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | INR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $15471.35     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | GBP/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-439692.01   | -0.57%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | CHF/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $570.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | WHEAT (CBT)                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -11 | NC      | $12296.93     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO STOXX 50                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |         4 | NC      | $1928.68      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MONTREAL EXCHANGE INC.                            | S&P/TSX 60 IX                                                     | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               | CORP              | CA        |        -2 | NC      | $1430.48      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | S&P500 EMINI                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        25 | NC      | $81562.50     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                | BRENT CRUDE                                                       | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              | CORP              | GB        |         7 | NC      | $6370.18      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | JPY/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-427537.52   | -0.55%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | GBP/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10477.77    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | USD/CHF FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-29101.78    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE                        | HANG SENG INDEX                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | HK        |         1 | NC      | $-4986.62     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24            | AUST 10Y BOND                                                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | AU        |        78 | NC      | $-4322.97     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | S&P500 EMINI                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        23 | NC      | $221190.87    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | NZD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-707.05      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME NICKEL                                                        | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -2 | NC      | $2387.46      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | GASOLINE RBOB                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         1 | NC      | $1991.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | CZK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3734.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME ZINC                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         9 | NC      | $4978.08      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | SOYBEAN                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       -40 | NC      | $51149.80     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | DAX INDEX                                                         | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |        -1 | NC      | $-17161.49    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME ZINC                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -9 | NC      | $-8019.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | SEK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-946.30      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | PLATINUM                                                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         3 | NC      | $18552.08     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | USD/CLP FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $30275.23     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | CHF/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-802.53      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | HUF/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3500.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                            | COTTON NO.2                                                       | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       -18 | NC      | $4620.25      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | NOK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7604.90      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | PHP/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5020.31      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD/AUD FORWARD                                                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-875.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | CAD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5611.04     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BORSA ITALIANA S.P.A.                             | FTSE/MIB INDEX                                                    | CUSIP: 000000000<br>LEI: 8156005391EE905D3124 | N/A              | DE               | CORP              | IT        |        -9 | NC      | $-62633.34    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME ZINC                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -9 | NC      | $-4870.17     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/CAD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1038.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD/GBP FORWARD                                                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $18372.42     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                            | COCOA                                                             | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       -11 | NC      | $-17802.38    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                | LOW SU GASOIL G                                                   | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              | CORP              | GB        |         1 | NC      | $1897.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                        | 10YR MINI JGB                                                     | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | N/A              | DIR              | CORP              | SG        |        29 | NC      | $-13632.06    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | WTI CRUDE                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         1 | NC      | $2296.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | SEK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-15838.49    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | SEK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4897.09     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/MYR FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-313.44      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | CHF/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $18711.35     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME PRI ALUM                                                      | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        28 | NC      | $34148.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                | LOW SU GASOIL G                                                   | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              | CORP              | GB        |        42 | NC      | $113570.63    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | SEK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $51504.47     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/NZD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10181.88    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                                | TOPIX INDX                                                        | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               | CORP              | JP        |         9 | NC      | $82643.02     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | USD/SEK FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $46552.10     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/EUR FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-18047.47    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | GASOLINE RBOB                                                     | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         8 | NC      | $25444.16     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | SOYBEAN OIL                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |        -1 | NC      | $-831.68      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.                          | GOLD 100 OZ                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        -2 | NC      | $-1722.74     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME ZINC                                                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        15 | NC      | $-16325.70    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | PALLADIUM                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        -5 | NC      | $47482.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/CZK FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3547.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | GBP/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $17375.87     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | AUD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $21252.87     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | NATURAL GAS                                                       | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       -17 | NC      | $83939.85     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MONTREAL EXCHANGE INC.                            | CAN 10YR BOND                                                     | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DIR              | CORP              | CA        |        32 | NC      | $-16385.95    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck J. P. Morgan EM Local Currency Bond ETF    | VanEck J. P. Morgan EM Local Currency Bond ETF                    | CUSIP: 92189H300<br>LEI: 549300CNWPR88MZBEA63 | Long             | EC               | RF                | US        |    142540 | NS      | $3544969.80   | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | NOK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-124921.45   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | SEK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $22038.89     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                            | SUGAR #11 (WORLD)                                                 | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |        -2 | NC      | $-186.20      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                            | SUGAR #11 (WORLD)                                                 | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       -33 | NC      | $9807.22      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America, National Association             | IDR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5205.38     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/EUR FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7682.02     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/PHP FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $747.98       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                      | USD/GBP FORWARD                                                   | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | N/A              | DFE              | CORP              | US        |         1 | NC      | $24382.64     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/HUF FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-597.65      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/SEK FORWARD                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $19898.55     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | INR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-38023.28    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | ZAR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-25772.94    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | TRS ABGS1204 INDEX                                                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |         1 | NC      | $-17321.45    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                | WTI CRUDE                                                         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         4 | NC      | $14746.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.                          | SILVER                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        -2 | NC      | $9941.33      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DREYFUS INSTITUTIONAL PREFERRE                    | DREYFUS INSTITUTIONAL PREFERRED GOVERNMENT PLUS MONEY MARKET FUND | CUSIP: 000000000<br>LEI: 549300RBWL04JG8SIX57 | Long             | STIV             | RF                | US        |   4976471 | NS      | $4976470.51   | 6.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                    | EUR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $92135.69     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                         | LME PRI ALUM                                                      | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       -28 | NC      | $-36684.71    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-18

**Name of Applicant:** BNY Mellon Advantage Funds, Inc.

**Signature:** James Windels

**Name of Signer:** James Windels

**Title:** Treasurer