# EDGAR Filing Document

**Accession Number:** 0000769220
**File Stem:** 0001752724-25-155844
**Filing Date:** 2025-6
**Character Count:** 107142
**Document Hash:** 3a2a3dec7595014172c3090bcf12125b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-155844.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-155844

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DELAWARE GROUP GOVERNMENT FUND
- **CENTRAL INDEX KEY:** 0000769220

**ORGANIZATION NAME:**
- **EIN:** 232448685
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04304
- **FILM NUMBER:** 251072756

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** 18005231918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DELAWARE GROUP GOVERNMENT FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Macquarie Emerging Markets Debt Corporate Fund (Series ID: S000041892)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000130079 | Class A             | DEDAX           |
| C000130080 | Class C             | DEDCX           |
| C000130082 | Institutional Class | DEDIX           |

## Nport-Ex

Schedule of investments

Macquarie Emerging Markets Debt Corporate Fund April 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ — 91.92%** | &nbsp;&nbsp;**Corporate BondsΔ — 91.92%** | &nbsp;&nbsp;**Corporate BondsΔ — 91.92%** |
| &nbsp;&nbsp;Angola — 0.72% | &nbsp;&nbsp;Angola — 0.72% | &nbsp;&nbsp;Angola — 0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azule Energy Finance 144A 8.125% 1/23/30 # | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;$699045 |
|  |  | &nbsp;&nbsp;&nbsp; 699045 |
| &nbsp;&nbsp;Argentina — 4.41% | &nbsp;&nbsp;Argentina — 4.41% | &nbsp;&nbsp;Argentina — 4.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aeropuertos Argentina 2000 144A 8.50% 8/1/31 # | &nbsp;&nbsp;&nbsp;&nbsp;544629 | &nbsp;&nbsp;&nbsp;&nbsp; 560048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IRSA Inversiones y Representaciones 144A 8.00%<br> 3/31/35 # | &nbsp;&nbsp;&nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp; 795555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tecpetrol 144A 7.625% 1/22/33 # | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp; 727538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telecom Argentina 144A 9.50% 7/18/31 # | &nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp; 776630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transportadora de Gas del Sur 144A 8.50% 7/24/31 # | &nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp; 590018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;YPF 144A 9.50% 1/17/31 # | &nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp; 815481 |
|  |  | &nbsp;&nbsp;&nbsp; 4265270 |
| &nbsp;&nbsp;Australia — 0.72% | &nbsp;&nbsp;Australia — 0.72% | &nbsp;&nbsp;Australia — 0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AngloGold Ashanti Holdings 6.50% 4/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp; 698553 |
|  |  | &nbsp;&nbsp;&nbsp; 698553 |
| &nbsp;&nbsp;Brazil — 7.80% | &nbsp;&nbsp;Brazil — 7.80% | &nbsp;&nbsp;Brazil — 7.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3R Lux 144A 9.75% 2/5/31 # | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp; 481271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Braskem Netherlands Finance 144A 8.00% 10/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp; 526870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSN Resources 144A 8.875% 12/5/30 # | &nbsp;&nbsp;&nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp; 507818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guara Norte 144A 5.198% 6/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;782677 | &nbsp;&nbsp;&nbsp;&nbsp; 725731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LD Celulose International 144A 7.95% 1/26/32 # | 1025000 | &nbsp;&nbsp;&nbsp;&nbsp; 1053700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Movida Europe 144A 7.85% 4/11/29 # | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp; 511377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MV24 Capital 144A 6.748% 6/1/34 # | &nbsp;&nbsp;&nbsp;&nbsp;688171 | &nbsp;&nbsp;&nbsp;&nbsp; 656489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexa Resources 144A 6.60% 4/8/37 # | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp; 725893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raizen Fuels Finance 144A 6.95% 3/5/54 # | &nbsp;&nbsp;&nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp; 908346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sitios Latinoamerica 144A 6.00% 11/25/29 # | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp; 668890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Usiminas International 144A 7.50% 1/27/32 # | &nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp; 775969 |
|  |  | &nbsp;&nbsp;&nbsp; 7542354 |
| &nbsp;&nbsp;Chile — 6.89% | &nbsp;&nbsp;Chile — 6.89% | &nbsp;&nbsp;Chile — 6.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AES Andes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 3/14/32 # | &nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp; 775818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.15% 6/10/55 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp; 576864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATP Tower Holdings 144A 7.875% 2/3/30 # | &nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp; 894634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco de Credito e Inversiones 144A 8.75% 5/8/29 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp; 674135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile Electricity Lux MPC 144A 6.01% 1/20/33 # | &nbsp;&nbsp;&nbsp;&nbsp;711450 | &nbsp;&nbsp;&nbsp;&nbsp; 734928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile Electricity Lux MPC II 144A 5.58% 10/20/35 # | &nbsp;&nbsp;&nbsp;&nbsp;654928 | &nbsp;&nbsp;&nbsp;&nbsp; 651490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Engie Energia Chile 144A 6.375% 4/17/34 # | &nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp; 691260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNL Quintero 144A 4.634% 7/31/29 # | &nbsp;&nbsp;&nbsp;&nbsp;738792 | &nbsp;&nbsp;&nbsp;&nbsp; 729470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latam Airlines Group 144A 7.875% 4/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp; 931000 |
|  |  | &nbsp;&nbsp;&nbsp; 6659599 |

---

NQ- 227 [0425] 0625 (4550261) 1

------

Schedule of investments

Macquarie Emerging Markets Debt Corporate Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** |
| &nbsp;&nbsp;China — 1.97% | &nbsp;&nbsp;China — 1.97% | &nbsp;&nbsp;China — 1.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70% 2/9/41 | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;$302866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 5/26/35 # | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 572460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meituan 144A 4.625% 10/2/29 # | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp; 761143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sunac China Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 9/30/25 #, ‡ | 1299603 | &nbsp;&nbsp;&nbsp;&nbsp; 159201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 9/30/26 #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;755067 | &nbsp;&nbsp;&nbsp;&nbsp; 103822 |
|  |  | &nbsp;&nbsp;&nbsp; 1899492 |
| &nbsp;&nbsp;Colombia — 2.04% | &nbsp;&nbsp;Colombia — 2.04% | &nbsp;&nbsp;Colombia — 2.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canacol Energy 144A 5.75% 11/24/28 # | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 162775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ecopetrol 5.875% 11/2/51 | &nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp; 527518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Geopark 144A 8.75% 1/31/30 # | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp; 761704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aval 144A 4.375% 2/4/30 # | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp; 515272 |
|  |  | &nbsp;&nbsp;&nbsp; 1967269 |
| &nbsp;&nbsp;Dominican Republic — 0.62% | &nbsp;&nbsp;Dominican Republic — 0.62% | &nbsp;&nbsp;Dominican Republic — 0.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aeropuertos Dominicanos Siglo XXI 144A 7.00% 6/30/34 # | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;&nbsp;&nbsp; 594688 |
|  |  | &nbsp;&nbsp;&nbsp; 594688 |
| &nbsp;&nbsp;Georgia — 2.03% | &nbsp;&nbsp;Georgia — 2.03% | &nbsp;&nbsp;Georgia — 2.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgia Global Utilities JSC 144A 8.875% 7/25/29 # | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp; 603109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silknet JSC 144A 8.375% 1/31/27 # | &nbsp;&nbsp;&nbsp;&nbsp;655000 | &nbsp;&nbsp;&nbsp;&nbsp; 663477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TBC Bank JSC 144A 10.25% 7/30/29 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp; 696943 |
|  |  | &nbsp;&nbsp;&nbsp; 1963529 |
| &nbsp;&nbsp;Guatemala — 1.04% | &nbsp;&nbsp;Guatemala — 1.04% | &nbsp;&nbsp;Guatemala — 1.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CT Trust 144A 5.125% 2/3/32 # | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp; 501090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Millicom International Cellular 144A 7.375% 4/2/32 # | &nbsp;&nbsp;&nbsp;&nbsp;499000 | &nbsp;&nbsp;&nbsp;&nbsp; 505437 |
|  |  | &nbsp;&nbsp;&nbsp; 1006527 |
| &nbsp;&nbsp;Hong Kong — 2.53% | &nbsp;&nbsp;Hong Kong — 2.53% | &nbsp;&nbsp;Hong Kong — 2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIA Group 144A 5.375% 4/5/34 # | &nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp; 514983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celestial Dynasty 6.375% 8/22/28 ■ | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp; 702172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Chartered |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.301% 1/9/29 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp; 664908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 1/16/32 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 567003 |
|  |  | &nbsp;&nbsp;&nbsp; 2449066 |
| &nbsp;&nbsp;India — 3.94% | &nbsp;&nbsp;India — 3.94% | &nbsp;&nbsp;India — 3.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adani Electricity Mumbai 144A 3.949% 2/12/30 # | &nbsp;&nbsp;&nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp; 459177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adani Ports & Special Economic Zone 144A 4.375%<br> 7/3/29 # | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp; 477151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axis Bank 4.10% 9/8/26 μ, ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;646000 | &nbsp;&nbsp;&nbsp;&nbsp; 620234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biocon Biologics Global 144A 6.67% 10/9/29 # | &nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp; 500533 |

---

2 NQ- 227 [0425] 0625 (4550261)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** |
| &nbsp;&nbsp;India (continued) | &nbsp;&nbsp;India (continued) | &nbsp;&nbsp;India (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Future Retail 144A 5.60% 1/22/25 #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;$1067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICICI Bank 144A 4.00% 3/18/26 # | &nbsp;&nbsp;&nbsp;&nbsp;489000 | &nbsp;&nbsp;&nbsp;&nbsp; 486549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JSW Hydro Energy 144A 4.125% 5/18/31 # | &nbsp;&nbsp;&nbsp;&nbsp;593688 | &nbsp;&nbsp;&nbsp;&nbsp; 529669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance Industries 144A 2.875% 1/12/32 # | &nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp; 732873 |
|  |  | &nbsp;&nbsp;&nbsp; 3807253 |
| &nbsp;&nbsp;Indonesia — 5.33% | &nbsp;&nbsp;Indonesia — 5.33% | &nbsp;&nbsp;Indonesia — 5.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cikarang Listrindo 144A 5.65% 3/12/35 # | 1465000 | &nbsp;&nbsp;&nbsp;&nbsp; 1461351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freeport Indonesia 144A 5.315% 4/14/32 # | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp; 588247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indofood CBP Sukses Makmur 4.805% 4/27/52 ■ | &nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp; 547152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medco Maple Tree 144A 8.96% 4/27/29 # | &nbsp;&nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp; 781849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perusahaan Perseroan Persero Perusahaan Listrik Negara<br> 144A 4.00% 6/30/50 # | &nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp; 481971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sorik Marapi Geothermal Power 144A 7.75% 8/5/31 # | &nbsp;&nbsp;&nbsp;&nbsp;651618 | &nbsp;&nbsp;&nbsp;&nbsp; 634103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Star Energy Geothermal Wayang Windu 144A 6.75%<br> 4/24/33 # | &nbsp;&nbsp;&nbsp;&nbsp;655751 | &nbsp;&nbsp;&nbsp;&nbsp; 656424 |
|  |  | &nbsp;&nbsp;&nbsp; 5151097 |
| &nbsp;&nbsp;Israel — 1.66% | &nbsp;&nbsp;Israel — 1.66% | &nbsp;&nbsp;Israel — 1.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel 144A 7.129% 7/18/33 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp; 667121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teva Pharmaceutical Finance Netherlands III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125% 5/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp; 350217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75% 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp; 589396 |
|  |  | &nbsp;&nbsp;&nbsp; 1606734 |
| &nbsp;&nbsp;Jamaica — 0.75% | &nbsp;&nbsp;Jamaica — 0.75% | &nbsp;&nbsp;Jamaica — 0.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingston Airport Revenue Finance 144A 6.75% 12/15/36 # | &nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp; 722291 |
|  |  | &nbsp;&nbsp;&nbsp; 722291 |
| &nbsp;&nbsp;Kazakhstan — 1.15% | &nbsp;&nbsp;Kazakhstan — 1.15% | &nbsp;&nbsp;Kazakhstan — 1.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kaspi.KZ JSC 144A 6.25% 3/26/30 # | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp; 691429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KazMunayGas National 144A 5.375% 4/24/30 # | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp; 420910 |
|  |  | &nbsp;&nbsp;&nbsp; 1112339 |
| &nbsp;&nbsp;Kuwait — 1.48% | &nbsp;&nbsp;Kuwait — 1.48% | &nbsp;&nbsp;Kuwait — 1.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Burgan Bank 2.75% 12/15/31 μ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp; 613845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NBK SPC 144A 1.625% 9/15/27 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp; 383543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NBK Tier 1 Financing 2 144A 4.50% 8/27/25 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp; 436700 |
|  |  | &nbsp;&nbsp;&nbsp; 1434088 |
| &nbsp;&nbsp;Macao — 1.73% | &nbsp;&nbsp;Macao — 1.73% | &nbsp;&nbsp;Macao — 1.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Melco Resorts Finance 144A 7.625% 4/17/32 # | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp; 739194 |

---

NQ- 227 [0425] 0625 (4550261) 3

------

Schedule of investments

Macquarie Emerging Markets Debt Corporate Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** |
| &nbsp;&nbsp;Macao (continued) | &nbsp;&nbsp;Macao (continued) | &nbsp;&nbsp;Macao (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sands China |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25% 8/8/31 | &nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;$482347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375% 6/18/30 | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp; 454338 |
|  |  | &nbsp;&nbsp;&nbsp; 1675879 |
| &nbsp;&nbsp;Malaysia — 1.54% | &nbsp;&nbsp;Malaysia — 1.54% | &nbsp;&nbsp;Malaysia — 1.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MISC Capital Two Labuan 144A 3.75% 4/6/27 # | &nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp; 700509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petronas Capital 144A 5.848% 4/3/55 # | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp; 791431 |
|  |  | &nbsp;&nbsp;&nbsp; 1491940 |
| &nbsp;&nbsp;Mexico — 7.22% | &nbsp;&nbsp;Mexico — 7.22% | &nbsp;&nbsp;Mexico — 7.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Mercantil del Norte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 6/27/29 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp; 449939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 1/10/28 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp; 460512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BBVA Mexico SA Institucion De Banca Multiple Grupo<br> Financiero BBVA Mexico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 9/13/34 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp; 346726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.125% 1/8/39 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp; 535432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bimbo Bakeries USA 144A 6.40% 1/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp; 633028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;El Puerto de Liverpool 144A 6.658% 1/22/37 # | &nbsp;&nbsp;&nbsp;&nbsp;905000 | &nbsp;&nbsp;&nbsp;&nbsp; 913399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fideicomiso Irrevocable de Administracion y Fuente de<br> Pago Numero PIK, 144A 11.00% 9/12/30 #, > | &nbsp;&nbsp;&nbsp;&nbsp;600950 | &nbsp;&nbsp;&nbsp;&nbsp; 580518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FIEMEX Energia - Banco Actinver Institucion de Banca<br> Multiple 144A 7.25% 1/31/41 # | &nbsp;&nbsp;&nbsp;&nbsp;745688 | &nbsp;&nbsp;&nbsp;&nbsp; 741027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico Generadora de Energia 144A 5.50% 12/6/32 # | &nbsp;&nbsp;&nbsp;&nbsp;643979 | &nbsp;&nbsp;&nbsp;&nbsp; 632507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saavi Energia 144A 8.875% 2/10/35 # | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp; 644000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.869% 1/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp; 626258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 2/13/34 # | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp; 421266 |
|  |  | &nbsp;&nbsp;&nbsp; 6984612 |
| &nbsp;&nbsp;Morocco — 0.91% | &nbsp;&nbsp;Morocco — 0.91% | &nbsp;&nbsp;Morocco — 0.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OCP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.125% 6/23/51 # | &nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp; 400914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 5/2/54 # | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp; 482650 |
|  |  | &nbsp;&nbsp;&nbsp; 883564 |
| &nbsp;&nbsp;Nigeria — 3.67% | &nbsp;&nbsp;Nigeria — 3.67% | &nbsp;&nbsp;Nigeria — 3.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Access Bank 144A 6.125% 9/21/26 # | &nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp; 593178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Africa Finance 144A 5.55% 10/8/29 # | &nbsp;&nbsp;&nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp; 737875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IHS Holding 144A 8.25% 11/29/31 # | 1545000 | &nbsp;&nbsp;&nbsp;&nbsp; 1491620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEPLAT Energy 144A 9.125% 3/21/30 # | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp; 729600 |
|  |  | &nbsp;&nbsp;&nbsp; 3552273 |

---

4 NQ- 227 [0425] 0625 (4550261)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** |
| &nbsp;&nbsp;Oman — 0.60% | &nbsp;&nbsp;Oman — 0.60% | &nbsp;&nbsp;Oman — 0.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oryx Funding 144A 5.80% 2/3/31 # | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;$581549 |
|  |  | &nbsp;&nbsp;&nbsp; 581549 |
| &nbsp;&nbsp;Panama — 0.71% | &nbsp;&nbsp;Panama — 0.71% | &nbsp;&nbsp;Panama — 0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sable International Finance 144A 7.125% 10/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp; 683946 |
|  |  | &nbsp;&nbsp;&nbsp; 683946 |
| &nbsp;&nbsp;Peru — 2.57% | &nbsp;&nbsp;Peru — 2.57% | &nbsp;&nbsp;Peru — 2.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco de Credito del Peru 144A 3.25% 9/30/31 #, μ | 1055000 | &nbsp;&nbsp;&nbsp;&nbsp; 1015045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cia de Minas Buenaventura 144A 6.80% 2/4/32 # | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp; 895509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consorcio Transmantaro 144A 5.20% 4/11/38 # | &nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp; 576294 |
|  |  | &nbsp;&nbsp;&nbsp; 2486848 |
| &nbsp;&nbsp;Philippines — 1.25% | &nbsp;&nbsp;Philippines — 1.25% | &nbsp;&nbsp;Philippines — 1.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Container Terminal Services 4.75% 6/17/30 ■ | &nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp; 636400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Bank & Trust 5.375% 3/6/29 ■ | &nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp; 571475 |
|  |  | &nbsp;&nbsp;&nbsp; 1207875 |
| &nbsp;&nbsp;Poland — 0.93% | &nbsp;&nbsp;Poland — 0.93% | &nbsp;&nbsp;Poland — 0.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ORLEN 144A 6.00% 1/30/35 # | &nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp; 900777 |
|  |  | &nbsp;&nbsp;&nbsp; 900777 |
| &nbsp;&nbsp;Qatar — 0.66% | &nbsp;&nbsp;Qatar — 0.66% | &nbsp;&nbsp;Qatar — 0.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ooredoo International Finance 144A 4.625% 10/10/34 # | &nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp; 633746 |
|  |  | &nbsp;&nbsp;&nbsp; 633746 |
| &nbsp;&nbsp;Saudi Arabia — 3.56% | &nbsp;&nbsp;Saudi Arabia — 3.56% | &nbsp;&nbsp;Saudi Arabia — 3.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Al Rajhi Sukuk 6.25% 7/21/30 μ, ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp; 778181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EIG Pearl Holdings 144A 4.387% 11/30/46 # | &nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp; 399143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greensaif Pipelines Bidco 144A 6.51% 2/23/42 # | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp; 646996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ma'aden Sukuk 144A 5.25% 2/13/30 # | &nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp; 904993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabian Oil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.50% 11/24/70 # | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp; 246297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 7/17/54 # | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp; 468250 |
|  |  | &nbsp;&nbsp;&nbsp; 3443860 |
| &nbsp;&nbsp;Serbia — 0.91% | &nbsp;&nbsp;Serbia — 0.91% | &nbsp;&nbsp;Serbia — 0.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telecommunications Telekom Srbija AD Belgrade 144A<br> 7.00% 10/28/29 # | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp; 875319 |
|  |  | &nbsp;&nbsp;&nbsp; 875319 |
| &nbsp;&nbsp;Singapore — 0.73% | &nbsp;&nbsp;Singapore — 0.73% | &nbsp;&nbsp;Singapore — 0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oversea-Chinese Banking 144A 1.832% 9/10/30 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;712000 | &nbsp;&nbsp;&nbsp;&nbsp; 704531 |
|  |  | &nbsp;&nbsp;&nbsp; 704531 |

---

NQ- 227 [0425] 0625 (4550261) 5

------

Schedule of investments

Macquarie Emerging Markets Debt Corporate Fund

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** |
| &nbsp;&nbsp;South Africa — 2.08% | &nbsp;&nbsp;South Africa — 2.08% | &nbsp;&nbsp;South Africa — 2.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anglo American Capital 144A 5.50% 5/2/33 # | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;$736176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prosus 144A 3.061% 7/13/31 # | &nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp; 639115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sasol Financing USA 144A 8.75% 5/3/29 # | &nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp; 635758 |
|  |  | &nbsp;&nbsp;&nbsp; 2011049 |
| &nbsp;&nbsp;South Korea — 3.00% | &nbsp;&nbsp;South Korea — 3.00% | &nbsp;&nbsp;South Korea — 3.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hyundai Capital Services 144A 5.25% 1/22/28 # | &nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp; 706204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kookmin Bank 144A 2.50% 11/4/30 # | &nbsp;&nbsp;&nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp; 624466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korea Hydro & Nuclear Power 144A 5.00% 7/18/28 # | &nbsp;&nbsp;&nbsp;&nbsp;695000 | &nbsp;&nbsp;&nbsp;&nbsp; 706818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinhan Bank 144A 5.75% 4/15/34 # | &nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp; 490369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinhan Financial Group 144A 5.00% 7/24/28 # | &nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp; 371535 |
|  |  | &nbsp;&nbsp;&nbsp; 2899392 |
| &nbsp;&nbsp;Taiwan — 1.44% | &nbsp;&nbsp;Taiwan — 1.44% | &nbsp;&nbsp;Taiwan — 1.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSMC Arizona 2.50% 10/25/31 | 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 977532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSMC Global 144A 2.25% 4/23/31 # | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp; 414835 |
|  |  | &nbsp;&nbsp;&nbsp; 1392367 |
| &nbsp;&nbsp;Tanzania — 0.67% | &nbsp;&nbsp;Tanzania — 0.67% | &nbsp;&nbsp;Tanzania — 0.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HTA Group 144A 7.50% 6/4/29 # | &nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp; 643234 |
|  |  | &nbsp;&nbsp;&nbsp; 643234 |
| &nbsp;&nbsp;Thailand — 1.46% | &nbsp;&nbsp;Thailand — 1.46% | &nbsp;&nbsp;Thailand — 1.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bangkok Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.466% 9/23/36 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp; 585718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 9/23/25 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp; 476389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTTEP Treasury Center 144A 2.587% 6/10/27 # | &nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp; 346119 |
|  |  | &nbsp;&nbsp;&nbsp; 1408226 |
| &nbsp;&nbsp;Türkiye — 5.80% | &nbsp;&nbsp;Türkiye — 5.80% | &nbsp;&nbsp;Türkiye — 5.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akbank TAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80% 6/22/31 μ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp; 463913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.498% 1/20/30 # | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp; 426036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDZ Elektrik Dagitim 144A 9.00% 10/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp; 637191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mersin Uluslararasi Liman Isletmeciligi 144A 8.25%<br> 11/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp; 622716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QNB Bank 10.75% 11/15/33 μ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp; 653543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TAV Havalimanlari Holding 144A 8.50% 12/7/28 # | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp; 769912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri 144A 7.45% 1/24/30 # | &nbsp;&nbsp;&nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp; 663556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkiye Garanti Bankasi 144A 8.375% 2/28/34 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp; 633738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yapi ve Kredi Bankasi 144A 7.875% 1/22/31 #, μ | &nbsp;&nbsp;&nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp; 734774 |
|  |  | &nbsp;&nbsp;&nbsp; 5605379 |

---

6 NQ- 227 [0425] 0625 (4550261)

------

---

| | | |
|:---|:---|:---|
|  | Principal<br> amount° | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** | &nbsp;&nbsp;**Corporate BondsΔ (continued)** |
| &nbsp;&nbsp;Ukraine — 0.69% | &nbsp;&nbsp;Ukraine — 0.69% | &nbsp;&nbsp;Ukraine — 0.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MHP Lux 144A 6.95% 4/3/26 # | &nbsp;&nbsp;&nbsp;&nbsp;720000 | &nbsp;&nbsp;$668700 |
|  |  | &nbsp;&nbsp;&nbsp; 668700 |
| &nbsp;&nbsp;United Arab Emirates — 3.42% | &nbsp;&nbsp;United Arab Emirates — 3.42% | &nbsp;&nbsp;United Arab Emirates — 3.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DP World Crescent 5.50% 5/8/35 | &nbsp;&nbsp;&nbsp;&nbsp;975000 | &nbsp;&nbsp;&nbsp;&nbsp; 965192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Abu Dhabi Bank PJSC 4.50% 4/5/26 μ, ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp; 609517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Galaxy Pipeline Assets Bidco 144A 2.16% 3/31/34 # | &nbsp;&nbsp;&nbsp;&nbsp;943552 | &nbsp;&nbsp;&nbsp;&nbsp; 832191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAF Global Securities 7.875% 6/30/27 μ, ψ, ■ | &nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp; 448142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweihan PV Power PJSC 144A 3.625% 1/31/49 # | &nbsp;&nbsp;&nbsp;&nbsp;553344 | &nbsp;&nbsp;&nbsp;&nbsp; 455633 |
|  |  | &nbsp;&nbsp;&nbsp; 3310675 |
| &nbsp;&nbsp;Vietnam — 0.46% | &nbsp;&nbsp;Vietnam — 0.46% | &nbsp;&nbsp;Vietnam — 0.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mong Duong Finance Holdings 144A 5.125% 5/7/29 # | &nbsp;&nbsp;&nbsp;&nbsp;457471 | &nbsp;&nbsp;&nbsp;&nbsp; 439785 |
|  |  | &nbsp;&nbsp;&nbsp; 439785 |
| &nbsp;&nbsp;Zambia — 0.83% | &nbsp;&nbsp;Zambia — 0.83% | &nbsp;&nbsp;Zambia — 0.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Quantum Minerals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 3/1/33 # | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp; 257563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.375% 3/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp; 540854 |
|  |  | &nbsp;&nbsp;&nbsp; 798417 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds (cost $90,064,166)** | &nbsp;&nbsp;&nbsp;**Total Corporate Bonds (cost $90,064,166)** | &nbsp;&nbsp;&nbsp;**88863137** |
| &nbsp;&nbsp;**Sovereign BondsΔ — 0.99%** | &nbsp;&nbsp;**Sovereign BondsΔ — 0.99%** | &nbsp;&nbsp;**Sovereign BondsΔ — 0.99%** |
| &nbsp;&nbsp;Hungary — 0.41% | &nbsp;&nbsp;Hungary — 0.41% | &nbsp;&nbsp;Hungary — 0.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MFB Magyar Fejlesztesi Bank 6.50% 6/29/28 ■ | &nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp; 391098 |
|  |  | &nbsp;&nbsp;&nbsp; 391098 |
| &nbsp;&nbsp;Poland — 0.58% | &nbsp;&nbsp;Poland — 0.58% | &nbsp;&nbsp;Poland — 0.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank Gospodarstwa Krajowego 144A 5.375% 5/22/33 # | &nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp; 564252 |
|  |  | &nbsp;&nbsp;&nbsp; 564252 |
| &nbsp;&nbsp;&nbsp;**Total Sovereign Bonds (cost $937,125)** | &nbsp;&nbsp;&nbsp;**Total Sovereign Bonds (cost $937,125)** | &nbsp;&nbsp;&nbsp; **955350** |
| &nbsp;&nbsp;**Supranational Banks — 0.72%** | &nbsp;&nbsp;**Supranational Banks — 0.72%** | &nbsp;&nbsp;**Supranational Banks — 0.72%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;African Development Bank 5.75% 5/7/34 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp; 699530 |
| &nbsp;&nbsp;&nbsp;**Total Supranational Banks (cost $709,925)** | &nbsp;&nbsp;&nbsp;**Total Supranational Banks (cost $709,925)** | &nbsp;&nbsp;&nbsp; **699530** |

---

NQ- 227 [0425] 0625 (4550261) 7

------

Schedule of investments

Macquarie Emerging Markets Debt Corporate Fund

---

| | | |
|:---|:---|:---|
|  | Number of<br> shares | &nbsp;&nbsp;Value (US $) |
| &nbsp;&nbsp;**Common StockΔ — 0.54%** | &nbsp;&nbsp;**Common StockΔ — 0.54%** | &nbsp;&nbsp;**Common StockΔ — 0.54%** |
| &nbsp;&nbsp;Mexico — 0.54% | &nbsp;&nbsp;Mexico — 0.54% | &nbsp;&nbsp;Mexico — 0.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aeromexico =, † | &nbsp;&nbsp;&nbsp;&nbsp;29657 | &nbsp;&nbsp;$523000 |
| &nbsp;&nbsp;&nbsp;**Total Common Stock (cost $269,980)** | &nbsp;&nbsp;&nbsp;**Total Common Stock (cost $269,980)** | &nbsp;&nbsp;&nbsp; **523000** |
| &nbsp;&nbsp;**Short-Term Investments — 5.48%** | &nbsp;&nbsp;**Short-Term Investments — 5.48%** | &nbsp;&nbsp;**Short-Term Investments — 5.48%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 5.48% | &nbsp;&nbsp;Money Market Mutual Funds — 5.48% | &nbsp;&nbsp;Money Market Mutual Funds — 5.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.22%) | 1324053 | &nbsp;&nbsp;&nbsp;&nbsp; 1324053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.22%) | 1324052 | &nbsp;&nbsp;&nbsp;&nbsp; 1324052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.29%) | 1324052 | &nbsp;&nbsp;&nbsp;&nbsp; 1324052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.24%) | 1324052 | &nbsp;&nbsp;&nbsp;&nbsp; 1324052 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $5,296,209)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments (cost $5,296,209)** | &nbsp;&nbsp;&nbsp; **5296209** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.65%<br> (cost $97,277,405)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**96337226** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities — 0.35%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **340243** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 12,757,952 Shares Outstanding — 100.00%** | &nbsp;&nbsp;**$96677469** |

---

---

| |
|:---|
| Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| Securities have been classified by country of risk. |
| Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At April 30, 2025, the aggregate value of Rule 144A securities was $77,434,856, which represents 80.10% of the Fund's net assets. |
| Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at April 30, 2025. Rate will reset at a future date. |
| Perpetual security. Maturity date represents next call date. |
| Non-income producing security. Security is currently in default. |
| Regulation S security. Security is offered and sold outside of the United States; therefore, it is exempt from registration with the SEC under Rules 903 and 904 of the Securities Act of 1933, as amended. |
| PIK. 100% of the income received was in the form of cash. |
| The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |

---

8 NQ- 227 [0425] 0625 (4550261)

------

† Non-income producing security.

The following swap contracts were outstanding at April 30, 2025:

#### Swap Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| CDS Contracts<sup>1</sup> | CDS Contracts<sup>1</sup> | CDS Contracts<sup>1</sup> | CDS Contracts<sup>1</sup> | CDS Contracts<sup>1</sup> | CDS Contracts<sup>1</sup> |
| Counterparty/<br> Reference Obligation/<br> Termination Date/<br> Payment Frequency | Notional<br> Amount<sup>2</sup> | &nbsp;&nbsp;Annual Protection<br> Payments | &nbsp;&nbsp;Value | &nbsp;&nbsp;Amortized<br> Upfront<br> Payments<br> Paid<br> (Received) | &nbsp;&nbsp;Unrealized<br> Depreciation |
| **Over-The-Counter:** |  |  |  |  |  |
| **Protection Purchased/Moody's Ratings:** |  |  |  |  |  |
| JPMCB Mexico 4.15% 3/28/27 Baa2<br> 6/22/26-Quarterly | 1748000 | 1.000% | &nbsp;&nbsp;$(10213) | &nbsp;&nbsp;&nbsp;&nbsp;$2985 | &nbsp;&nbsp;$(13198) |

---

The use of swap contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The notional amounts presented above represent the Fund's total exposure in such contracts, whereas only the unrealized appreciation (depreciation) is reflected in the Fund's net assets.

<sup>1</sup> A CDS contract is a risk-transfer instrument through which one party (purchaser of protection) transfers to another party (seller of protection) the financial risk of a credit event (as defined in the CDS agreement), as it relates to a particular reference security or basket of securities (such as an index). Periodic payments (receipts) on such contracts are accrued daily and recorded as unrealized losses (gains) on swap contracts. Upon payment (receipt), such amounts are recorded as realized losses (gains) on swap contracts. Upfront payments made or received in connection with CDS contracts are amortized over the expected life of the CDS contracts as unrealized losses (gains) on swap contracts. The change in value of CDS contracts is recorded daily as unrealized appreciation or depreciation. A realized gain or loss is recorded upon a credit event (as defined in the CDS agreement) or the maturity or termination of the CDS agreement.

<sup>2</sup> Notional amount shown is stated in USD unless noted that the swap is denominated in another currency.

---

| |
|:---|
| **Summary of abbreviations:** |
| CDS – Credit Default Swap |
| JPMCB – JPMorgan Chase Bank |
| JSC – Joint Stock Company |
| PIK – Payment-in-kind |
| PJSC – Private Joint Stock Company |

---

NQ- 227 [0425] 0625 (4550261) 9

------

Schedule of investments

Macquarie Emerging Markets Debt Corporate Fund

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| USD – US Dollar |

---

10 NQ- 227 [0425] 0625 (4550261)

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Delaware Group Government Fund

- **b. Investment Company Act file number:** 811-04304

- **c. CIK number of Registrant:** 0000769220

- **d. LEI of Registrant:** 549300LQEAIQ305TVO13

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

  - **Street Address 1:** 100 Independence

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 18005231918

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

- **a. Name of Series:** Macquarie Emerging Markets Debt Corporate Fund

- **b. EDGAR series identifier (if any):** S000041892

- **c. LEI of Series:** 549300M1MSKMKF5XEN15

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $96858437.11

**Total Liabilities:** $183167.28

**Net Assets:** $96675269.83

**Cash Not Reported:** $72590.04

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 28.46846000 | **1-Year:** 2202.30787000 | **5-Year:** 12566.25050000 | **10-Year:** 11905.55651000 | **30-Year:** 923.29293000

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

- **3-Month:** 42.74924000 | **1-Year:** 3731.76766000 | **5-Year:** 10551.00403000 | **10-Year:** 1622.44351000 | **30-Year:** 49.77238000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130079 | 1.52%                | -0.03%               | -0.52%               |
| Class ID C000130080 | 1.46%                | -0.19%               | -0.60%               |
| Class ID C000130082 | 1.55%                | -0.01%               | -0.50%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $105973.95               | $896618.16                                 |
| Month 2  | $50385.89                | $-679225.27                                |
| Month 3  | $-261714.58              | $-844622.67                                |

**Designated Index Information**

- **Index Name:** JP Morgan CEMBI Broad Diversified Index

- **Index Identifier:** JPM_CEMBI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| J.P. MORGAN SECURITIES LLC                     | CDS UNITED MEXICAN STATES                                                        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-10212.94    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BURGAN BANK                                    | Burgan Bank SAK                                                                  | CUSIP: 000000000<br>LEI: 558600NC81HKXMFSTY52 | Long             | DBT              | CORP              | KW        |    650000 | PA      | $613844.73    | 0.63%             | 2031-12-15      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                          | Freeport Indonesia PT                                                            | CUSIP: 69377FAB2<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |    595000 | PA      | $588247.17    | 0.61%             | 2032-04-14      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                             | Saavi Energia Sarl                                                               | CUSIP: 78518PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    640000 | PA      | $644000.00    | 0.67%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN BANK & TRUS                       | Metropolitan Bank & Trust Co                                                     | CUSIP: 000000000<br>LEI: 549300SQYI82RVWFN715 | Long             | DBT              | CORP              | PH        |    560000 | PA      | $571475.24    | 0.59%             | 2029-03-06      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                        | Aeropuertos Dominicanos Siglo XXI SA                                             | CUSIP: 007866AE6<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    585000 | PA      | $594687.60    | 0.62%             | 2034-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GRUPO AVAL LTD                                 | Grupo Aval Ltd                                                                   | CUSIP: 40053FAC2<br>LEI: 549300J4FW1ELLQ80113 | Long             | DBT              | CORP              | KY        |    585000 | PA      | $515272.33    | 0.53%             | 2030-02-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EL PUERTO DE LIVERPOOL                         | El Puerto de Liverpool SAB de CV                                                 | CUSIP: 283837AD4<br>LEI: 4469000001BO4JEXZL32 | Long             | DBT              | CORP              | MX        |    905000 | PA      | $913398.67    | 0.94%             | 2037-01-22      | Fixed         | 6.66%                 | No            |                  2 | On Loan: No      |
| USIMINAS INTERNATIONAL                         | Usiminas International Sarl                                                      | CUSIP: 91734JAB6<br>LEI: 529900KLYX6QPXVIVP43 | Long             | DBT              | CORP              | LU        |    775000 | PA      | $775968.75    | 0.80%             | 2032-01-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MA'ADEN SUKUK LTD                              | Ma'aden Sukuk Ltd                                                                | CUSIP: 55407NAA0<br>LEI: 254900QDNU6I6VA8UL14 | Long             | DBT              | CORP              | KY        |    890000 | PA      | $904992.50    | 0.94%             | 2030-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRANSPORT DE GAS DEL SUR                       | Transportadora de Gas del Sur SA                                                 | CUSIP: 893870AY1<br>LEI: 5299002TRC7IFQYSW596 | Long             | DBT              | CORP              | AR        |    570000 | PA      | $590018.06    | 0.61%             | 2031-07-24      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ORYX FUNDING LTD                               | Oryx Funding Ltd                                                                 | CUSIP: 67114NAA9<br>LEI: 549300S728CF0BBRC295 | Long             | DBT              | CORP              | KY        |    580000 | PA      | $581548.60    | 0.60%             | 2031-02-03      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| OVERSEA-CHINESE BANKING                        | Oversea-Chinese Banking Corp Ltd                                                 | CUSIP: 69033CAD1<br>LEI: 5493007O3QFXCPOGWK22 | Long             | DBT              | CORP              | SG        |    712000 | PA      | $704531.12    | 0.73%             | 2030-09-10      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                           | Telecom Argentina SA                                                             | CUSIP: 879273AU4<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |    740000 | PA      | $776630.00    | 0.80%             | 2031-07-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                       | Greensaif Pipelines Bidco Sarl                                                   | CUSIP: 39541EAC7<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    630000 | PA      | $646996.33    | 0.67%             | 2042-02-23      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA                           | Sitios Latinoamerica SAB de CV                                                   | CUSIP: 82983PAA1<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |    665000 | PA      | $668890.25    | 0.69%             | 2029-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MOVIDA EUROPE SA                               | Movida Europe SA                                                                 | CUSIP: 62459LAC3<br>LEI: 549300YRJE0V6QKU7C86 | Long             | DBT              | CORP              | LU        |    580000 | PA      | $511377.59    | 0.53%             | 2029-04-11      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| AKBANK TAS                                     | Akbank TAS                                                                       | CUSIP: 00971YAL4<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    425000 | PA      | $426035.94    | 0.44%             | 2030-01-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MEDCO MAPLE TREE PTE LTD                       | Medco Maple Tree Pte Ltd                                                         | CUSIP: 58407HAA7<br>LEI: 254900T5AQZNR0THA508 | Long             | DBT              | CORP              | SG        |    760000 | PA      | $781849.24    | 0.81%             | 2029-04-27      | Fixed         | 8.96%                 | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                          | Alibaba Group Holding Ltd                                                        | CUSIP: 01609WBK7<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    575000 | PA      | $572460.05    | 0.59%             | 2035-05-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                  | HTA Group Ltd/Mauritius                                                          | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    640000 | PA      | $643233.60    | 0.67%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GEORGIA GLOBAL UTILITIES                       | Georgia Global Utilities JSC                                                     | CUSIP: 373196AB0<br>LEI: 213800JCP8ERP6FTOL26 | Long             | DBT              | CORP              | GE        |    595000 | PA      | $603108.96    | 0.62%             | 2029-07-25      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CHILE ELECTRICITY LUX                          | Chile Electricity Lux MPC Sarl                                                   | CUSIP: 168829AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    711450 | PA      | $734927.85    | 0.76%             | 2033-01-20      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| KASPI.KZ JSC                                   | Kaspi.KZ JSC                                                                     | CUSIP: 466281AA0<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |    705000 | PA      | $691428.75    | 0.72%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                        | Mong Duong Finance Holdings BV                                                   | CUSIP: 60935DAA3<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    457471 | PA      | $439784.88    | 0.45%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund                                   | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   1324052 | NS      | $1324052.33   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PTTEP TREASURY CENTER CO                       | PTTEP Treasury Center Co Ltd                                                     | CUSIP: 69371MAF4<br>LEI: 2549006WFOUPZX6TZG08 | Long             | DBT              | CORP              | TH        |    360000 | PA      | $346119.44    | 0.36%             | 2027-06-10      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| ICICI BANK LTD/DUBAI                           | ICICI Bank Ltd/Dubai                                                             | CUSIP: 45112EAG4<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | DBT              | CORP              | IN        |    489000 | PA      | $486548.69    | 0.50%             | 2026-03-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                       | Banco de Credito e Inversiones SA                                                | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    650000 | PA      | $674134.50    | 0.70%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LTD                        | Reliance Industries Ltd                                                          | CUSIP: 759470BB2<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |    840000 | PA      | $732872.53    | 0.76%             | 2032-01-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                            | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 06000BAA0<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    480000 | PA      | $476388.62    | 0.49%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                          | Alibaba Group Holding Ltd                                                        | CUSIP: 01609WAY8<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    445000 | PA      | $302866.11    | 0.31%             | 2041-02-09      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV                     | Grupo Aeromexico SAB de CV                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     29657 | NS      | $522999.43    | 0.54%             |  |  |  | No            |                  3 | On Loan: No      |
| CHILE ELECTRICITY LUX                          | Chile Electricity Lux Mpc II Sarl                                                | CUSIP: 16882LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    654928 | PA      | $651489.98    | 0.67%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| GNL QUINTERO SA                                | GNL Quintero SA                                                                  | CUSIP: 36190CAA5<br>LEI: 549300JJJIQXE6E1QY27 | Long             | DBT              | CORP              | CL        |    738792 | PA      | $729469.92    | 0.75%             | 2029-07-31      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                                                       | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   1324052 | NS      | $1324052.15   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TURKCELL ILETISIM HIZMET                       | Turkcell Iletisim Hizmetleri AS                                                  | CUSIP: 900111AC9<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |    660000 | PA      | $663556.41    | 0.69%             | 2030-01-24      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                 | Trust Fibra Uno                                                                  | CUSIP: 898339AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    675000 | PA      | $626257.91    | 0.65%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| MISC CAPITAL TWO LABUAN                        | MISC Capital Two Labuan Ltd                                                      | CUSIP: 60475DAB7<br>LEI: 9845000ED8376T875113 | Long             | DBT              | CORP              | MY        |    710000 | PA      | $700508.58    | 0.72%             | 2027-04-06      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                       | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |   1299602 | PA      | $159201.31    | 0.16%             | 2025-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                           | Saudi Arabian Oil Co                                                             | CUSIP: 80414L2M6<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    410000 | PA      | $246296.84    | 0.25%             | 2070-11-24      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                         | Standard Chartered PLC                                                           | CUSIP: 853254CS7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    640000 | PA      | $664908.03    | 0.69%             | 2029-01-09      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                                                      | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |   1324052 | NS      | $1324052.37   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDS CHINA LTD                                | Sands China Ltd                                                                  | CUSIP: 80007RAL9<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    490000 | PA      | $454338.14    | 0.47%             | 2030-06-18      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| CSN RESOURCES SA                               | CSN Resources SA                                                                 | CUSIP: 12644VAF5<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |    530000 | PA      | $507818.02    | 0.53%             | 2030-12-05      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| PT SORIK MAR GEO POW                           | Sorik Marapi Geothermal Power PT                                                 | CUSIP: 74390TAA7<br>LEI: 254900OW9VKG09S8C597 | Long             | DBT              | CORP              | ID        |    651618 | PA      | $634102.51    | 0.66%             | 2031-08-05      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                           | Petronas Capital Ltd                                                             | CUSIP: 716743AX7<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    795000 | PA      | $791431.25    | 0.82%             | 2055-04-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| JSW HYDRO ENERGY LTD                           | JSW Hydro Energy Ltd                                                             | CUSIP: 46653YAA6<br>LEI: 3358006ZP5KO7VUH2790 | Long             | DBT              | CORP              | IN        |    593688 | PA      | $529669.41    | 0.55%             | 2031-05-18      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AFRICA FINANCE CORP                            | Africa Finance Corp                                                              | CUSIP: 00830YAF8<br>LEI: 213800LXFHRRXIJRXW97 | Long             | DBT              | NUSS              | N/A       |    745000 | PA      | $737874.89    | 0.76%             | 2029-10-08      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| OOREDOO INTL FINANCE                           | Ooredoo International Finance Ltd                                                | CUSIP: 68341PAB5<br>LEI: 549300BHXCDJ03WU7N77 | Long             | DBT              | CORP              | BM        |    645000 | PA      | $633746.36    | 0.66%             | 2034-10-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AIA GROUP LTD                                  | AIA Group Ltd                                                                    | CUSIP: 00131LAQ8<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |    510000 | PA      | $514983.41    | 0.53%             | 2034-04-05      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AFRICAN DEVELOPMENT BANK                       | African Development Bank                                                         | CUSIP: 008281BF3<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | N/A       |    730000 | PA      | $699530.38    | 0.72%             | N/A             | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                         | AngloGold Ashanti Holdings PLC                                                   | CUSIP: 03512TAB7<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    690000 | PA      | $698552.76    | 0.72%             | 2040-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                       | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    460000 | PA      | $449939.06    | 0.47%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FIRST ABU DHABI BANK PJS                       | First Abu Dhabi Bank PJSC                                                        | CUSIP: 000000000<br>LEI: 2138002Y3WMK6RZS8H90 | Long             | DBT              | CORP              | AE        |    615000 | PA      | $609517.28    | 0.63%             | N/A             | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                           | Raizen Fuels Finance SA                                                          | CUSIP: 75102XAC0<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    960000 | PA      | $908345.66    | 0.94%             | 2054-03-05      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA                       | LD Celulose International GmbH                                                   | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |   1025000 | PA      | $1053700.00   | 1.09%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| CT TRUST                                       | CT Trust                                                                         | CUSIP: 12659BAA2<br>LEI: 213800MJB7WO427HQD34 | Long             | DBT              | CORP              | GT        |    550000 | PA      | $501090.54    | 0.52%             | 2032-02-03      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                         | Anglo American Capital PLC                                                       | CUSIP: 034863BD1<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    735000 | PA      | $736176.37    | 0.76%             | 2033-05-02      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                         | Millicom International Cellular SA                                               | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    499000 | PA      | $505436.90    | 0.52%             | 2032-04-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BANK LEUMI LE-ISRAEL                           | Bank Leumi Le-Israel BM                                                          | CUSIP: 000000000<br>LEI: 7JDSZWRGUQY2DSTWCR57 | Long             | DBT              | CORP              | IL        |    650000 | PA      | $667121.20    | 0.69%             | 2033-07-18      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| MEITUAN                                        | Meituan                                                                          | CUSIP: 58533EAF0<br>LEI: 21380033K525E5JLIA77 | Long             | DBT              | CORP              | KY        |    765000 | PA      | $761142.79    | 0.79%             | 2029-10-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| INDOFOOD CBP SUKSES MAKM                       | Indofood CBP Sukses Makmur Tbk PT                                                | CUSIP: 000000000<br>LEI: 254900YKZW9GRKZZN285 | Long             | DBT              | CORP              | ID        |    680000 | PA      | $547152.14    | 0.57%             | 2052-04-27      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                 | Trust Fibra Uno                                                                  | CUSIP: 89834JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    425000 | PA      | $421266.16    | 0.44%             | 2034-02-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AL RAJHI SUKUK LTD                             | Al Rajhi Sukuk Ltd                                                               | CUSIP: 000000000<br>LEI: 549300FHETHK3XGY8N60 | Long             | DBT              | CORP              | KY        |    770000 | PA      | $778181.25    | 0.80%             | N/A             | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                       | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |    755067 | PA      | $103821.71    | 0.11%             | 2026-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                            | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 059895AV4<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    665000 | PA      | $585717.84    | 0.61%             | 2036-09-23      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| CELESTIAL DYNASTY LTD                          | Celestial Dynasty Ltd                                                            | CUSIP: 000000000<br>LEI: 254900A85ZVOMCLC2410 | Long             | DBT              | CORP              | VG        |    735000 | PA      | $702171.89    | 0.73%             | 2028-08-22      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| SANDS CHINA LTD                                | Sands China Ltd                                                                  | CUSIP: 80007RAS4<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    565000 | PA      | $482346.72    | 0.50%             | 2031-08-08      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| TAV HAVALIMANLARI HOLDIN                       | TAV Havalimanlari Holding AS                                                     | CUSIP: 87216EAA4<br>LEI: 789000PBM9TT5D88M597 | Long             | DBT              | CORP              | TR        |    750000 | PA      | $769912.50    | 0.80%             | 2028-12-07      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BIMBO BAKERIES USA INC                         | Bimbo Bakeries USA Inc                                                           | CUSIP: 09031WAD5<br>LEI: 549300HOXXHHT7926W92 | Long             | DBT              | CORP              | US        |    595000 | PA      | $633028.24    | 0.65%             | 2034-01-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                   | Ecopetrol SA                                                                     | CUSIP: 279158AQ2<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    825000 | PA      | $527517.46    | 0.55%             | 2051-11-02      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                         | Galaxy Pipeline Assets Bidco Ltd                                                 | CUSIP: 36321PAD2<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |    943552 | PA      | $832191.25    | 0.86%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| ADANI ELECTRICITY MUMBAI                       | Adani Electricity Mumbai Ltd                                                     | CUSIP: 00654GAA1<br>LEI: 335800AIC1B5EBFVUC38 | Long             | DBT              | CORP              | IN        |    530000 | PA      | $459176.84    | 0.47%             | 2030-02-12      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                        | KazMunayGas National Co JSC                                                      | CUSIP: 48667QAQ8<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |    430000 | PA      | $420910.36    | 0.44%             | 2030-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                       | Banco de Credito del Peru S.A.                                                   | CUSIP: 05971U2D8<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |   1055000 | PA      | $1015045.04   | 1.05%             | 2031-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEXA RESOURCES SA                              | Nexa Resources SA                                                                | CUSIP: 65290DAC7<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |    735000 | PA      | $725893.64    | 0.75%             | 2037-04-08      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| HUNGARIAN DEVELOPMENT BA                       | MFB Magyar Fejlesztesi Bank Zrt                                                  | CUSIP: 000000000<br>LEI: 549300KCFVCFTUJZYT59 | Long             | DBT              | NUSS              | HU        |    380000 | PA      | $391097.90    | 0.40%             | 2028-06-29      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| GDZ ELEKTRIK DAGITIM AS                        | GDZ Elektrik Dagitim AS                                                          | CUSIP: 36270TAA1<br>LEI: 984500B63B5766038A64 | Long             | DBT              | CORP              | TR        |    680000 | PA      | $637191.28    | 0.66%             | 2029-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| KINGSTON AIRPORT REV FIN                       | Kingston Airport Revenue Finance Ltd                                             | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |    730000 | PA      | $722291.20    | 0.75%             | 2036-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                           | Saudi Arabian Oil Co                                                             | CUSIP: 80414L2P9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    500000 | PA      | $468250.00    | 0.48%             | 2054-07-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AKBANK TAS                                     | Akbank TAS                                                                       | CUSIP: 000000000<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    470000 | PA      | $463912.94    | 0.48%             | 2031-06-22      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                       | OCP SA                                                                           | CUSIP: 67091TAE5<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    545000 | PA      | $400913.61    | 0.41%             | 2051-06-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SWEIHAN PV POWER CO PJSC                       | Sweihan PV Power Co PJSC                                                         | CUSIP: 870674AA6<br>LEI: 353800EF1E1IC18GBC48 | Long             | DBT              | CORP              | AE        |    553344 | PA      | $455633.30    | 0.47%             | 2049-01-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SILKNET JSC                                    | Silknet JSC                                                                      | CUSIP: 47972FAA9<br>LEI: 635400QGWS2BG73SGG55 | Long             | DBT              | CORP              | GE        |    655000 | PA      | $663476.88    | 0.69%             | 2027-01-31      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CANACOL ENERGY LTD                             | Canacol Energy Ltd                                                               | CUSIP: 134808AD6<br>LEI: 549300X5MNRWPMSM9N14 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $162774.57    | 0.17%             | 2028-11-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                        | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    360000 | PA      | $350217.43    | 0.36%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                        | EIG Pearl Holdings Sarl                                                          | CUSIP: 28249NAB7<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |    515000 | PA      | $399143.44    | 0.41%             | 2046-11-30      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                       | OCP SA                                                                           | CUSIP: 67091TAG0<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    490000 | PA      | $482650.00    | 0.50%             | 2054-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GEOPARK LTD                                    | Geopark Ltd                                                                      | CUSIP: 37255BAC3<br>LEI: 529900ZR5QI19AH4KZ07 | Long             | DBT              | CORP              | BM        |    880000 | PA      | $761704.42    | 0.79%             | 2030-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ATP TOW/ANDEAN TELECOM                         | ATP Tower Holdings / Andean Telecom Partners Chile SpA / Andean Tower Partners C | CUSIP: 00193BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    895000 | PA      | $894634.48    | 0.93%             | 2030-02-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                        | Latam Airlines Group SA                                                          | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    950000 | PA      | $931000.00    | 0.96%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| QNB BANK AS                                    | QNB Bank AS                                                                      | CUSIP: 000000000<br>LEI: 789000Q21SW842S9IJ58 | Long             | DBT              | CORP              | TR        |    600000 | PA      | $653542.50    | 0.68%             | 2033-11-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                         | Star Energy Geothermal Wayang Windu Ltd                                          | CUSIP: 85511XAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    655751 | PA      | $656424.46    | 0.68%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    515000 | PA      | $540853.52    | 0.56%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| TELECOMMUNICATIONS CO TE                       | Telecommunications co Telekom Srbija AD Belgrade                                 | CUSIP: 87945BAA8<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |    880000 | PA      | $875318.84    | 0.91%             | 2029-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AEROPUERTOS ARGENT 2000                        | Aeropuertos Argentina 2000 SA                                                    | CUSIP: 00786PAE4<br>LEI: 549300349K24AVAQ7B24 | Long             | DBT              | CORP              | AR        |    544629 | PA      | $560047.99    | 0.58%             | 2031-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                        | Sasol Financing USA LLC                                                          | CUSIP: 80386WAF2<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    670000 | PA      | $635757.44    | 0.66%             | 2029-05-03      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FIDEIC IRR ADMIN 4323                          | Fideicomiso Irrevocable de Administracion y Fuente de Pago Numero CIB/4323       | CUSIP: 171928AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    600950 | PA      | $580517.70    | 0.60%             | 2030-09-12      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS                       | Yapi ve Kredi Bankasi AS                                                         | CUSIP: 984848AN1<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    735000 | PA      | $734773.99    | 0.76%             | 2031-01-22      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MEXICO GENERADORA DE ENE                       | Mexico Generadora de Energia S de rl                                             | CUSIP: 592838AA4<br>LEI: 635400GBINBYW1VUAD14 | Long             | DBT              | CORP              | MX        |    643979 | PA      | $632507.42    | 0.65%             | 2032-12-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AES ANDES SA                                   | AES Andes SA                                                                     | CUSIP: 00111VAC1<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    565000 | PA      | $576864.44    | 0.60%             | 2055-06-10      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| TRANSMANTARO                                   | Consorcio Transmantaro SA                                                        | CUSIP: 210314AD2<br>LEI: 549300NL65DC6HVEJX96 | Long             | DBT              | CORP              | PE        |    605000 | PA      | $576293.78    | 0.60%             | 2038-04-11      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ENGIE ENERGIA CHILE SA                         | Engie Energia Chile SA                                                           | CUSIP: 29287TAB5<br>LEI: 5493000FIKCC3ZDWTO77 | Long             | DBT              | CORP              | CL        |    670000 | PA      | $691259.77    | 0.72%             | 2034-04-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL CONTAINER                        | International Container Terminal Services Inc                                    | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | DBT              | CORP              | PH        |    645000 | PA      | $636399.51    | 0.66%             | 2030-06-17      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SHINHAN BANK                                   | Shinhan Bank Co Ltd                                                              | CUSIP: 824589AH8<br>LEI: 5493003P813VL21KG928 | Long             | DBT              | CORP              | KR        |    480000 | PA      | $490368.77    | 0.51%             | 2034-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NBK TIER 1 FINANCING 2                         | NBK Tier 1 Financing 2 Ltd                                                       | CUSIP: 62878WAA6<br>LEI: 549300HMWSJFNREWT164 | Long             | DBT              | CORP              | AE        |    440000 | PA      | $436700.00    | 0.45%             | N/A             | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FUTURE RETAIL LTD                              | Future Retail Ltd                                                                | CUSIP: 36118EAA0<br>LEI: 335800XO19WYIUZC9H61 | Long             | DBT              | CORP              | IN        |    425000 | PA      | $1066.75      | 0.00%             | 2025-01-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGAR                       | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                        | CUSIP: 71568PAP4<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |    695000 | PA      | $481971.03    | 0.50%             | 2050-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEPLAT ENERGY PLC                              | SEPLAT Energy PLC                                                                | CUSIP: 81733MAA3<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |    765000 | PA      | $729599.63    | 0.75%             | 2030-03-21      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                          | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    765000 | PA      | $739193.64    | 0.76%             | 2032-04-17      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI                        | Turkiye Garanti Bankasi AS                                                       | CUSIP: 900148AF4<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    635000 | PA      | $633737.94    | 0.66%             | 2034-02-28      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| AES ANDES SA                                   | AES Andes SA                                                                     | CUSIP: 00111VAD9<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    775000 | PA      | $775818.25    | 0.80%             | 2032-03-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    260000 | PA      | $257563.49    | 0.27%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                       | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                 | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    745688 | PA      | $741027.20    | 0.77%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                                                    | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   1324052 | NS      | $1324052.33   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SABLE INTL FINANCE LTD                         | Sable International Finance Ltd                                                  | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    695000 | PA      | $683946.03    | 0.71%             | 2032-10-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| AXIS BANK GANDHINAGAR                          | Axis Bank Ltd/Gandhinagar                                                        | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | DBT              | CORP              | IN        |    646000 | PA      | $620233.84    | 0.64%             | N/A             | Fixed         | 4.10%                 | Yes           |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL                        | Adani Ports & Special Economic Zone Ltd                                          | CUSIP: 00652MAE2<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |    525000 | PA      | $477151.50    | 0.49%             | 2029-07-03      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                              | TSMC Arizona Corp                                                                | CUSIP: 872898AC5<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $977531.72    | 1.01%             | 2031-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CIKARANG LISTRINDO PT                          | Cikarang Listrindo Tbk PT                                                        | CUSIP: 74448QAA5<br>LEI: 254900NPCIO562Z7FN53 | Long             | DBT              | CORP              | ID        |   1465000 | PA      | $1461350.69   | 1.51%             | 2035-03-12      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| NBK SPC LTD                                    | NBK SPC Ltd                                                                      | CUSIP: 62877PAB0<br>LEI: 549300P1ANDK86KWB419 | Long             | DBT              | CORP              | AE        |    400000 | PA      | $383543.40    | 0.40%             | 2027-09-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| KOREA HYDRO & NUCLEAR PO                       | Korea Hydro & Nuclear Power Co Ltd                                               | CUSIP: 50064YAS2<br>LEI: 9884008CRY5MLCN8OQ43 | Long             | DBT              | NUSS              | KR        |    695000 | PA      | $706817.78    | 0.73%             | 2028-07-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC                                | Access Bank PLC                                                                  | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |    615000 | PA      | $593178.26    | 0.61%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| 3R LUX SARL                                    | 3R Lux SARL                                                                      | CUSIP: 88563PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    490000 | PA      | $481270.65    | 0.50%             | 2031-02-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                        | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    575000 | PA      | $589395.70    | 0.61%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                         | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX     | CUSIP: 07336UAB9<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    525000 | PA      | $535432.28    | 0.55%             | 2039-01-08      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                           | YPF SA                                                                           | CUSIP: 984245AX8<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    790000 | PA      | $815481.13    | 0.84%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MAF GLOBAL SECURITIES                          | MAF Global Securities Ltd                                                        | CUSIP: 000000000<br>LEI: 54930037VUDNYTS17017 | Long             | DBT              | CORP              | KY        |    435000 | PA      | $448141.35    | 0.46%             | N/A             | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| TECPETROL S.A.                                 | Tecpetrol SA                                                                     | CUSIP: 87876TAG9<br>LEI: 529900C0GOV3UC7ZMZ16 | Long             | DBT              | CORP              | AR        |    725000 | PA      | $727537.50    | 0.75%             | 2033-01-22      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW                       | Bank Gospodarstwa Krajowego                                                      | CUSIP: 06237MAA1<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              | NUSS              | PL        |    560000 | PA      | $564252.08    | 0.58%             | 2033-05-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BIOCON BIOLOGICS GLOBAL                        | Biocon Biologics Global PLC                                                      | CUSIP: 090978AA5<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |    555000 | PA      | $500533.35    | 0.52%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| GUARA NORTE SARL                               | Guara Norte Sarl                                                                 | CUSIP: 400666AA1<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |    782677 | PA      | $725730.67    | 0.75%             | 2034-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                       | Azule Energy Finance Plc                                                         | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    725000 | PA      | $699045.00    | 0.72%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| KOOKMIN BANK                                   | Kookmin Bank                                                                     | CUSIP: 50050GAN8<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |    705000 | PA      | $624465.74    | 0.65%             | 2030-11-04      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                      | Prosus NV                                                                        | CUSIP: 74365PAF5<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    740000 | PA      | $639115.13    | 0.66%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                         | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX     | CUSIP: 05533UAG3<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    360000 | PA      | $346726.01    | 0.36%             | 2034-09-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MHP LUX SA                                     | MHP Lux SA                                                                       | CUSIP: 59318YAA6<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |    720000 | PA      | $668700.00    | 0.69%             | 2026-04-03      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| MERSIN ULUSLARARASI LIMA                       | Mersin Uluslararasi Liman Isletmeciligi AS                                       | CUSIP: 590454AC8<br>LEI: 635400DAFN6NT43HM530 | Long             | DBT              | CORP              | TR        |    605000 | PA      | $622715.91    | 0.64%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ORLEN SA                                       | ORLEN SA                                                                         | CUSIP: 68666UAA3<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |    890000 | PA      | $900777.01    | 0.93%             | 2035-01-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TBC BANK JSC                                   | TBC Bank JSC                                                                     | CUSIP: 48128XAD5<br>LEI: 2138001MSA39Q44QTA18 | Long             | DBT              | CORP              | GE        |    710000 | PA      | $696943.53    | 0.72%             | N/A             | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                            | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAJ4<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    590000 | PA      | $526870.00    | 0.54%             | 2034-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                         | Standard Chartered PLC                                                           | CUSIP: 853254DF4<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    575000 | PA      | $567003.07    | 0.59%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SHINHAN FINANCIAL GROUP                        | Shinhan Financial Group Co Ltd                                                   | CUSIP: 824596AC4<br>LEI: 988400EB8A6G49E5KO54 | Long             | DBT              | CORP              | KR        |    365000 | PA      | $371535.54    | 0.38%             | 2028-07-24      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                | IHS Holding Ltd                                                                  | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |   1545000 | PA      | $1491620.25   | 1.54%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                       | Cia de Minas Buenaventura SAA                                                    | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    900000 | PA      | $895509.00    | 0.93%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL SERVICES                       | Hyundai Capital Services Inc                                                     | CUSIP: 44920UAX6<br>LEI: 549300MALMDAGL2ZJJ27 | Long             | DBT              | CORP              | KR        |    695000 | PA      | $706204.10    | 0.73%             | 2028-01-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TSMC GLOBAL LTD                                | TSMC Global Ltd                                                                  | CUSIP: 872882AK1<br>LEI: 549300N2ZLI21P85T117 | Long             | DBT              | CORP              | VG        |    470000 | PA      | $414835.25    | 0.43%             | 2031-04-23      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MV24 CAPITAL BV                                | MV24 Capital BV                                                                  | CUSIP: 55388RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    688172 | PA      | $656488.91    | 0.68%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                       | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05962GAJ8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    465000 | PA      | $460511.73    | 0.48%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| INVERSIONES Y REPRESENTA                       | IRSA Inversiones y Representaciones SA                                           | CUSIP: 450047AJ4<br>LEI: 549300QJINFBX83IZ837 | Long             | DBT              | CORP              | AR        |    830000 | PA      | $795555.00    | 0.82%             | 2035-03-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-23

**Name of Applicant:** Delaware Group Government Fund

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration