# EDGAR Filing Document

**Accession Number:** 0001420040
**File Stem:** 0001752724-25-160494
**Filing Date:** 2025-6
**Character Count:** 37337
**Document Hash:** f18d8883ddd58f5c2b2fb58974c9f952
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-160494.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-160494

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dunham Funds
- **CENTRAL INDEX KEY:** 0001420040

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22153
- **FILM NUMBER:** 251081785

**BUSINESS ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122
- **BUSINESS PHONE:** 858-964-0500

**MAIL ADDRESS:**
- **STREET 1:** 6256 GREENWICH DRIVE
- **STREET 2:** SUITE 550
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92122

## Series and Classes Contracts Data

### Dunham Emerging Markets Stock Fund (Series ID: S000020977)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000059526 | Dunham Emerging Markets Stock Fund Class A | DAEMX           |
| C000059527 | Dunham Emerging Markets Stock Fund Class C | DCEMX           |
| C000059528 | Dunham Emerging Markets Stock Fund Class N | DNEMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Dunham Funds

- **b. Investment Company Act file number:** 811-22153

- **c. CIK number of Registrant:** 0001420040

- **d. LEI of Registrant:** 549300FI2C3SP4YCHL80

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

  - **Street Address 1:** 6256 Greenwich Dr

  - **City:** SAN DIEGO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92122

  - **Telephone number:** 858-964-0500

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

- **a. Name of Series:** Dunham Emerging Markets Stock Fund

- **b. EDGAR series identifier (if any):** S000020977

- **c. LEI of Series:** 549300H44PWNDVV6MH44

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

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

- **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:** $133930055.29

**Total Liabilities:** $895067.26

**Net Assets:** $133034988.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000059526 | -0.15%               | 1.94%                | 0.58%                |
| Class ID C000059527 | -0.24%               | 1.87%                | 0.56%                |
| Class ID C000059528 | -0.14%               | 1.96%                | 0.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-404925.54              | $103042.76                                 |
| Month 2  | $825169.71               | $1510254.25                                |
| Month 3  | $-766305.40              | $2680824.12                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Prudential PLC                                                 | Prudential PLC                       | CUSIP: G72899100<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |     52800 | NS      | $561460.44    | 0.42%             |  |  |  | No            | 2                  | On Loan: No      |
| Cyrela Brazil Realty S.A. Empreendimentos E Participacoes      | CYRELA                               | CUSIP: P34085103<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    273600 | NS      | $1197593.61   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Banco do Brasil SA                                             | BANCO DO BRASIL                      | CUSIP: P11427112<br>LEI: QE0Q0253K88YAGNPE356 | Long             | EC               | CORP              | BR        |    206600 | NS      | $1049946.96   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Grupo Financiero Banorte S.A.B. de C.V.                        | GRUPO F BANORT-O                     | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    214300 | NS      | $1837550.29   | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Funds Inc.                                      | FRST AM-GV OB-X                      | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   3980447 | PA      | $3980447.20   | 2.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Fomento Economico Mexicano S A B de C V                        | FOMENTO ECON-ADR                     | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      9700 | NS      | $1021507.00   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| HDFC Bank Ltd.                                                 | HDFC BANK-ADR                        | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     21800 | NS      | $1584642.00   | 1.19%             |  |  |  | No            | 1                  | On Loan: —       |
| ICICI Bank Ltd.                                                | ICICI BANK-ADR                       | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     21400 | NS      | $718184.00    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank Polska Kasa Opieki SA                                     | PEKAO                                | CUSIP: X0R77T117<br>LEI: 5493000LKS7B3UTF7H35 | Long             | EC               | CORP              | PL        |     27522 | NS      | $1379721.26   | 1.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Metlen Energy & Metals SA                                      | METLEN ENERGY &                      | CUSIP: X56014131<br>LEI: 213800KT8MEUJEJ2KW41 | Long             | EC               | CORP              | GR        |     18549 | NS      | $878600.35    | 0.66%             |  |  |  | No            | 2                  | On Loan: No      |
| Abu Dhabi Islamic Bank PJSC                                    | ABU DHABI ISLAMI                     | CUSIP: M0152R102<br>LEI: 5493006DOLY8O98XHD74 | Long             | EC               | CORP              | AE        |    180331 | NS      | $897814.34    | 0.67%             |  |  |  | No            | 2                  | On Loan: No      |
| Accton Technology Corp.                                        | ACCTON TECH                          | CUSIP: Y0002S109<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |     47099 | NS      | $875174.79    | 0.66%             |  |  |  | No            | 2                  | On Loan: No      |
| PT AKR Corporindo Tbk                                          | AKR CORPORINDO                       | CUSIP: Y71161163<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |   5213200 | NS      | $395664.00    | 0.30%             |  |  |  | No            | 2                  | On Loan: No      |
| Ayala Land Inc.                                                | AYALA LAND INC                       | CUSIP: Y0488F100<br>LEI: 254900EWT10TQ6DKTV34 | Long             | EC               | CORP              | PH        |   1294100 | NS      | $581208.89    | 0.44%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank of the Philippine Islands                                 | BANK PHILIPPINE                      | CUSIP: Y0967S169<br>LEI: 549300UW4UH6XT2X8C50 | Long             | EC               | CORP              | PH        |    187930 | NS      | $471750.85    | 0.35%             |  |  |  | No            | 2                  | On Loan: No      |
| Hyundai Motor Co.                                              | HYUNDAI MOTOR-2                      | CUSIP: Y38472224<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EP               | CORP              | KR        |      3636 | NS      | $389839.91    | 0.29%             |  |  |  | No            | 2                  | On Loan: No      |
| PetroChina Co Ltd.                                             | PETROCHINA-H                         | CUSIP: Y6883Q104<br>LEI: 529900RPY4YG47TRSV05 | Long             | EC               | NUSS              | CN        |   1064000 | NS      | $813035.95    | 0.61%             |  |  |  | No            | 2                  | On Loan: No      |
| Delta Electronics Inc.                                         | DELTA ELEC                           | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     14000 | NS      | $146342.55    | 0.11%             |  |  |  | No            | 2                  | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                            | HKEX                                 | CUSIP: Y3506N139<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |     45800 | NS      | $2000970.10   | 1.50%             |  |  |  | No            | 2                  | On Loan: No      |
| MediaTek Inc.                                                  | MEDIATEK                             | CUSIP: Y5945U103<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     60000 | NS      | $2543462.66   | 1.91%             |  |  |  | No            | 2                  | On Loan: No      |
| Heiniken Malaysia Berhad                                       | HEINEKEN MALAYSI                     | CUSIP: Y29432104<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |     19800 | NS      | $120956.66    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Bharti Airtel Ltd.                                             | BHARTI AIRTEL                        | CUSIP: Y0885K108<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    138635 | NS      | $3054118.01   | 2.30%             |  |  |  | No            | 2                  | On Loan: No      |
| SK Hynix Inc.                                                  | SK HYNIX INC                         | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     11621 | NS      | $1448195.11   | 1.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Hyundai Motor Co.                                              | HYUNDAI MOTOR                        | CUSIP: Y38472109<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EC               | CORP              | KR        |      4246 | NS      | $568258.57    | 0.43%             |  |  |  | No            | 2                  | On Loan: No      |
| Jollibee Foods Corp.                                           | JOLLIBEE FOODS                       | CUSIP: Y4466S100<br>LEI: 2138009XN3KTAAKUPR35 | Long             | EC               | CORP              | PH        |    258140 | NS      | $1061566.18   | 0.80%             |  |  |  | No            | 2                  | On Loan: No      |
| Kia Corp.                                                      | KIA CORP                             | CUSIP: Y47601102<br>LEI: 988400V8MJK9N7OI5X76 | Long             | EC               | CORP              | KR        |     17446 | NS      | $1107379.88   | 0.83%             |  |  |  | No            | 2                  | On Loan: No      |
| BYD Co Ltd.                                                    | BYD COMPANY                          | CUSIP: Y1023R104<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     21000 | NS      | $997412.16    | 0.75%             |  |  |  | No            | 2                  | On Loan: No      |
| Firstrand Ltd                                                  | FirstRand Ltd                        | CUSIP: S5202Z131<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |    242765 | NS      | $950449.14    | 0.71%             |  |  |  | No            | 2                  | On Loan: No      |
| PICC Property and Casualty Co Ltd.                             | PICC P&C-H                           | CUSIP: Y6975Z103<br>LEI: 300300F1000311000017 | Long             | EC               | NUSS              | CN        |   1170000 | NS      | $2154465.19   | 1.62%             |  |  |  | No            | 2                  | On Loan: No      |
| Zijin Mining Group Co Ltd.                                     | ZIJIN MINING-H                       | CUSIP: Y9892H107<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |    134000 | NS      | $292744.99    | 0.22%             |  |  |  | No            | 2                  | On Loan: No      |
| E Ink Holdings Inc.                                            | E INK HOLDINGS                       | CUSIP: Y2266Z100<br>LEI: 529900UOR451FJJYL571 | Long             | EC               | CORP              | TW        |    118000 | NS      | $822319.65    | 0.62%             |  |  |  | No            | 2                  | On Loan: No      |
| Samsung Electronics Co Ltd.                                    | SAMSUNG ELECTRON                     | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     78459 | NS      | $3057491.49   | 2.30%             |  |  |  | No            | 2                  | On Loan: No      |
| Hanwha Aerospace Co Ltd                                        | Hanwha Techwin Co Ltd                | CUSIP: Y7470L102<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |      2156 | NS      | $1210182.45   | 0.91%             |  |  |  | No            | 2                  | On Loan: No      |
| Samsung Electronics Co Ltd.                                    | Samsung Electronics Co Lt            | CUSIP: Y74718118<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |      7714 | NS      | $254329.30    | 0.19%             |  |  |  | No            | 2                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.                   | TSMC                                 | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    417608 | NS      | $11804317.22  | 8.87%             |  |  |  | No            | 2                  | On Loan: No      |
| Opap SA                                                        | OPAP SA                              | CUSIP: X3232T104<br>LEI: 213800M4NRGFJCI34834 | Long             | EC               | CORP              | GR        |     85753 | NS      | $1906939.92   | 1.43%             |  |  |  | No            | 2                  | On Loan: No      |
| LPP SA                                                         | LPP                                  | CUSIP: X5053G103<br>LEI: 259400NUS7MKGPJL4752 | Long             | EC               | CORP              | PL        |       243 | NS      | $994736.98    | 0.75%             |  |  |  | No            | 2                  | On Loan: No      |
| OTP Bank PLC                                                   | OTP BANK PLC                         | CUSIP: X60746181<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |      9460 | NS      | $698905.20    | 0.53%             |  |  |  | No            | 2                  | On Loan: No      |
| Qifu Technology Inc.                                           | QIFU TECHNOLOGY                      | CUSIP: 88557W101<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     27000 | NS      | $1107810.00   | 0.83%             |  |  |  | No            | 1                  | On Loan: —       |
| N/A                                                            | MOUNT VERNON LIQUID ASSETS PORTFOLIO | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Public Bank Berhad                                             | Public Bank Bhd                      | CUSIP: Y71497104<br>LEI: 549300L2RSQCVMOHGM20 | Long             | EC               | CORP              | MY        |   1766000 | NS      | $1830730.55   | 1.38%             |  |  |  | No            | 2                  | On Loan: No      |
| Larsen & Toubro Ltd.                                           | LARSEN & TOUBRO                      | CUSIP: Y5217N159<br>LEI: 3358003FR3JIC5FRXA90 | Long             | EC               | CORP              | IN        |     41328 | NS      | $1633769.21   | 1.23%             |  |  |  | No            | 2                  | On Loan: No      |
| Minor International Public Co Ltd.                             | MINOR INTER-NVDR                     | CUSIP: Y6069M315<br>LEI: 254900T4WB2UF9XPX041 | Long             | EC               | CORP              | TH        |   1026839 | NS      | $826440.82    | 0.62%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank Central Asia Tbk PT                                       | BANK CENTRAL ASI                     | CUSIP: Y7123P138<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   4433300 | NS      | $2357144.03   | 1.77%             |  |  |  | No            | 2                  | On Loan: No      |
| SM Investments Corp.                                           | SM INVESTMENTS                       | CUSIP: Y80676102<br>LEI: 254900YB8UATFP21AF80 | Long             | EC               | CORP              | PH        |     54440 | NS      | $848425.82    | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| Saudi Awwal Bank                                               | SAUDI AWWAL BANK                     | CUSIP: M8234F111<br>LEI: 558600TQS0WENZUC5190 | Long             | EC               | CORP              | SA        |     73916 | NS      | $691634.50    | 0.52%             |  |  |  | No            | 2                  | On Loan: No      |
| China Merchants Bank Co Ltd.                                   | CM BANK-H                            | CUSIP: Y14896115<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |    161000 | NS      | $878189.82    | 0.66%             |  |  |  | No            | 2                  | On Loan: No      |
| Industrial & Commercial Bank of China Ltd.                     | ICBC-H                               | CUSIP: Y3990B112<br>LEI: 5493002ERZU2K9PZDL40 | Long             | EC               | CORP              | CN        |   2994000 | NS      | $2050907.39   | 1.54%             |  |  |  | No            | 2                  | On Loan: No      |
| Lotes Co Ltd.                                                  | LOTES                                | CUSIP: Y53302116<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     19000 | NS      | $745280.56    | 0.56%             |  |  |  | No            | 2                  | On Loan: No      |
| Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP | SABESP                               | CUSIP: P2R268136<br>LEI: 254900UOXRZRS2TNWP19 | Long             | EC               | CORP              | BR        |     78100 | NS      | $1562027.52   | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| ANTA Sports Products Ltd.                                      | ANTA SPORTS                          | CUSIP: G04011105<br>LEI: 529900291XG0CTK4LF95 | Long             | EC               | CORP              | KY        |    114000 | NS      | $1346991.50   | 1.01%             |  |  |  | No            | 2                  | On Loan: No      |
| eMemory Technology Inc.                                        | EMEMORY TECH                         | CUSIP: Y2289B114<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     13000 | NS      | $1044265.55   | 0.78%             |  |  |  | No            | 2                  | On Loan: No      |
| KB Financial Group Inc.                                        | KB FINANCIAL GRO                     | CUSIP: Y46007103<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |     25179 | NS      | $1589313.61   | 1.19%             |  |  |  | No            | 2                  | On Loan: No      |
| AIA Group Ltd, Hong Kong                                       | AIA                                  | CUSIP: Y002A1105<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    182800 | NS      | $1369692.74   | 1.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Airtac International Group                                     | AIRTAC INTERNATIONAL GROU            | CUSIP: G01408106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     23000 | NS      | $630206.11    | 0.47%             |  |  |  | No            | 2                  | On Loan: No      |
| Magnit Public Joint Stock Company                              | MAGNIT                               | CUSIP: X51729105<br>LEI: 2534009KKPTVL99W2Y12 | Long             | EC               | CORP              | RU        |      8512 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Gazprom Public Joint Stock Company                             | GAZPROM                              | CUSIP: X3123F106<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |    376189 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| BDO Unibank Inc.                                               | BDO Unibank Inc                      | CUSIP: Y07775102<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |    201910 | NS      | $580168.77    | 0.44%             |  |  |  | No            | 2                  | On Loan: No      |
| ASPEED Technology Inc.                                         | ASPEED TECH                          | CUSIP: Y04044106<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      5000 | NS      | $469252.45    | 0.35%             |  |  |  | No            | 2                  | On Loan: No      |
| Indus Towers Ltd.                                              | INDUS TOWERS LTD                     | CUSIP: Y0R86J109<br>LEI: 335800L6DI4VHODGDK41 | Long             | EC               | CORP              | IN        |    391985 | NS      | $1886601.63   | 1.42%             |  |  |  | No            | 2                  | On Loan: No      |
| Shenzhen Inovance Technology Co Ltd.                           | SHENZHEN INOVA-A                     | CUSIP: Y7744Z101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     83300 | NS      | $818964.04    | 0.62%             |  |  |  | No            | 2                  | On Loan: No      |
| BYD Co Ltd.                                                    | BYD CO LTD -A                        | CUSIP: Y1023R120<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     28700 | NS      | $1395116.95   | 1.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Vietnam Enterprise Investments Ltd                             | VIETNAM-EN INV-C                     | CUSIP: G9361H109<br>LEI: 213800SYT3T4AGEVW864 | Long             | EC               | CORP              | KY        |    136545 | NS      | $948721.77    | 0.71%             |  |  |  | No            | 2                  | On Loan: No      |
| Bharat Electronics Ltd.                                        | BHARAT ELECTRON                      | CUSIP: Y0881Q141<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |    342795 | NS      | $1273397.09   | 0.96%             |  |  |  | No            | 2                  | On Loan: No      |
| Lemon Tree Hotels Limited                                      | LEMON TREE HOTEL                     | CUSIP: Y5S322109<br>LEI: 335800QFBWIUBBCRJN72 | Long             | EC               | CORP              | IN        |    418315 | NS      | $678531.24    | 0.51%             |  |  |  | Yes           | 2                  | On Loan: No      |
| Woori Financial Group Inc.                                     | WOORI FINANCIAL GROUP INC            | CUSIP: Y972JZ105<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     78761 | NS      | $979563.40    | 0.74%             |  |  |  | No            | 2                  | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd.               | SHENZHEN MINDR-A                     | CUSIP: Y774E3101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     25900 | NS      | $782379.93    | 0.59%             |  |  |  | No            | 2                  | On Loan: No      |
| Contemporary Amperex Technology Co Ltd.                        | CONTEMPORARY A-A                     | CUSIP: Y1R48E105<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     21600 | NS      | $689803.79    | 0.52%             |  |  |  | No            | 2                  | On Loan: No      |
| HDFC Bank Ltd.                                                 | HDFC BANK LTD                        | CUSIP: Y3119P190<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    139098 | NS      | $3155407.75   | 2.37%             |  |  |  | No            | 2                  | On Loan: No      |
| Alibaba Group Holding Ltd.                                     | BABA-SW                              | CUSIP: G01719114<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    378341 | NS      | $5648591.95   | 4.25%             |  |  |  | No            | 2                  | On Loan: No      |
| JD.com Inc.                                                    | JD.COM INC-CL A                      | CUSIP: G8208B101<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |     56300 | NS      | $916636.12    | 0.69%             |  |  |  | No            | 2                  | On Loan: No      |
| Vivara Participacoes SA                                        | VIVARA PARTICIPA                     | CUSIP: P98017109<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    315200 | NS      | $1228051.95   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Bangkok Dusit Medical Services Public Co Ltd.                  | BANGKOK DUSIT-F                      | CUSIP: Y06071255<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |   1175600 | NS      | $843040.12    | 0.63%             |  |  |  | No            | 2                  | On Loan: No      |
| Max Healthcare Institute Ltd.                                  | MAX HEALTHCARE I                     | CUSIP: Y5S464109<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |    299760 | NS      | $3884167.97   | 2.92%             |  |  |  | No            | 2                  | On Loan: No      |
| ACEN Corp                                                      | ACEN CORP                            | CUSIP: Y1001H102<br>LEI: 549300LGUZQ61GQQXQ60 | Long             | EC               | CORP              | PH        |     57780 | NS      | $2765.24      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tencent Holdings Ltd.                                          | TENCENT                              | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    158400 | NS      | $9702063.61   | 7.29%             |  |  |  | No            | 2                  | On Loan: No      |
| Eicher Motors Ltd.                                             | EICHER MOTORS                        | CUSIP: Y2251M148<br>LEI: 25490059S64CN2OY7239 | Long             | EC               | CORP              | IN        |     16602 | NS      | $1091861.50   | 0.82%             |  |  |  | No            | 2                  | On Loan: No      |
| Adnoc Drilling Company PJSC                                    | ADNOC DRILLING C                     | CUSIP: M0R81X106<br>LEI: 254900JPRSQL1PM0JV19 | Long             | EC               | CORP              | AE        |    736044 | NS      | $982002.25    | 0.74%             |  |  |  | No            | 2                  | On Loan: No      |
| Sona BLW Precision Forgings Ltd.                               | SONA BLW PRECISI                     | CUSIP: Y8T725106<br>LEI: 335800LEL76GE6551Q27 | Long             | EC               | CORP              | IN        |     70088 | NS      | $398470.37    | 0.30%             |  |  |  | Yes           | 2                  | On Loan: No      |
| Elm Co                                                         | ELM CO                               | CUSIP: M3046F102<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      2424 | NS      | $670746.12    | 0.50%             |  |  |  | No            | 2                  | On Loan: No      |
| Trip.com Group Ltd.                                            | TRIP.COM GROUP L                     | CUSIP: G9066F101<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |     11350 | NS      | $683727.06    | 0.51%             |  |  |  | No            | 2                  | On Loan: No      |
| China Yangtze Power Co Ltd.                                    | CHINA YANGTZE-A                      | CUSIP: Y1516Q142<br>LEI: 3003008VX8JFJXA6QP74 | Long             | EC               | NUSS              | CN        |    428700 | NS      | $1738753.25   | 1.31%             |  |  |  | No            | 2                  | On Loan: No      |
| Axis Bank Ltd.                                                 | AXIS BANK LTD                        | CUSIP: Y0487S137<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |    224414 | NS      | $3143837.24   | 2.36%             |  |  |  | No            | 2                  | On Loan: No      |
| SCB X Public Co Ltd.                                           | SCB X PCL-NVDR                       | CUSIP: Y8620D438<br>LEI: 254900TG41KIWX7VDO42 | Long             | EC               | CORP              | TH        |    201100 | NS      | $716554.52    | 0.54%             |  |  |  | No            | 2                  | On Loan: No      |
| Adnoc Gas                                                      | ADNOC GAS PLC                        | CUSIP: M0R823101<br>LEI: 254900O5NS03BDOOM362 | Long             | EC               | CORP              | AE        |    931585 | NS      | $804136.08    | 0.60%             |  |  |  | No            | 2                  | On Loan: No      |
| Juniper Hotels Ltd.                                            | JUNIPER HOTELS L                     | CUSIP: Y4S6SB107<br>LEI: 335800QBDPW1325RMY43 | Long             | EC               | CORP              | IN        |     39841 | NS      | $134958.21    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Midea Group Co Ltd.                                            | MIDEA GROUP CO L                     | CUSIP: Y6S40V111<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |    134600 | NS      | $1270479.23   | 0.95%             |  |  |  | Yes           | 2                  | On Loan: No      |
| Varun Beverages Ltd.                                           | VARUN BEVERAGES                      | CUSIP: Y9T53H143<br>LEI: 33580058NWEMWBDNMD48 | Long             | EC               | CORP              | IN        |    233811 | NS      | $1441667.74   | 1.08%             |  |  |  | No            | 2                  | On Loan: No      |
| 360 One Wam Ltd.                                               | 360 ONE WAM LTD                      | CUSIP: Y8R01R106<br>LEI: 335800DDYMCDBO5OLL32 | Long             | EC               | CORP              | IN        |    108773 | NS      | $1265369.14   | 0.95%             |  |  |  | No            | 2                  | On Loan: No      |
| Afcons Infrastructure Limited                                  | AFCONS INFRASTUC                     | CUSIP: Y0R19K116<br>LEI: 335800OKAQF4E62NHB43 | Long             | EC               | CORP              | IN        |    226721 | NS      | $1120563.13   | 0.84%             |  |  |  | No            | 2                  | On Loan: No      |
| Zabka Group SA                                                 | ZABKA GROUP SA                       | CUSIP: L98969105<br>LEI: 549300TU2RZ35E4ET914 | Long             | EC               | CORP              | LU        |    138116 | NS      | $788444.06    | 0.59%             |  |  |  | No            | 2                  | On Loan: No      |
| Chifeng Jilong Gold Mining Co Ltd.                             | CHIFENG JILONG-H                     | CUSIP: Y1368F103<br>LEI: 300300PUFBCIZ7STN538 | Long             | EC               | CORP              | CN        |    542000 | NS      | $1782051.07   | 1.34%             |  |  |  | Yes           | 1                  | On Loan: No      |
| Hugel Inc                                                      | HUGEL INC                            | CUSIP: Y3R47A100<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3811 | NS      | $975335.80    | 0.73%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                            | CURRENCY CONTRACT - USD              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1262747 | NC      | $-95.25       | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| Credicorp Ltd.                                                 | CREDICORP LTD                        | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      5900 | NS      | $1192921.00   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Grab Holdings Ltd.                                             | GRAB HOLDINGS LT                     | CUSIP: G4124C109<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |    237600 | NS      | $1159488.00   | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Dunham Funds

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Assistant Treasurer