# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-23-048626
**Filing Date:** 2023-3
**Character Count:** 186266
**Document Hash:** 592fbc6b14f2b2d0c4a5dd759a0d8b2f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-048626.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-048626

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 23690150

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (800) 342-5734

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### Aperture New World Opportunities Fund (Series ID: S000063768)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000206646 | Institutional Shares | ANWOX           |
| C000213647 | Class X Shares       | ANWRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ADVISORS' INNER CIRCLE III

- **b. Investment Company Act file number:** 811-22920

- **c. CIK number of Registrant:** 0001593547

- **d. LEI of Registrant:** 549300TG800HOPJVWT31

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

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** Aperture New World Opportunities Fund

- **b. EDGAR series identifier (if any):** S000063768

- **c. LEI of Series:** 549300KQFTG6MAUPT147

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $307537240.69

**Total Liabilities:** $498020.73

**Net Assets:** $307039219.96

**Cash Not Reported:** $2812144.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -196.54966682 | **1-Year:** -17517.68989856 | **5-Year:** -20817.44413165 | **10-Year:** -2573.95938698 | **30-Year:** -1280.27945341

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

- **3-Month:** -235.11577396 | **1-Year:** -12270.30847827 | **5-Year:** -18541.49202974 | **10-Year:** -2772.54041174 | **30-Year:** -13.23473996

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000206646 | 1.43%                | 3.50%                | -1.35%               |
| Class ID C000213647 | 1.40%                | 3.50%                | -1.35%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5933261.48             | $8905962.89                                |
| Month 2  | $-793046.64              | $11243253.11                               |
| Month 3  | $-802137.46              | $-3694703.60                               |

**Designated Index Information**

- **Index Name:** LBFI_23057_USD

- **Index Identifier:** LBFI_23057_USD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COSL SINGAPORE CAPITAL LTD.                                                                           | COSL SINGAPORE CAPITAL LTD 1.875000% 06/24/2025                         | CUSIP: N/A<br>LEI: 300300WB9ZSCZYXDFJ80       | Long             | DBT              | NUSS              | CN        |    700000 | PA      | $645941.60    | 0.21%             | 2025-06-24      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| SAUDI ELECTRICITY GLOBAL SUKUK COMPANY 5                                                              | SAUDI ELECTRICITY GLOBAL SUKUK CO 5 1.740000% 09/17/2025                | CUSIP: N/A<br>LEI: 549300WDKWTRF2HVF283       | Long             | DBT              | NUSS              | SA        |   1915000 | PA      | $1761079.96   | 0.57%             | 2025-09-17      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| Pemerintah Republik Indonesia                                                                         | REPUBLIC OF INDONESIA 4.350000% 01/08/2027                              | CUSIP: Y20721BQ1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |   2116000 | PA      | $2091064.91   | 0.68%             | 2027-01-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Republica del Ecuador                                                                                 | REPUBLIC OF ECUADOR 2.500000% 07/31/2035                                | CUSIP: N/A<br>LEI: 5299003Y2U5XK0A35H71       | Long             | DBT              | NUSS              | EC        |   1760105 | PA      | $809187.24    | 0.26%             | 2035-07-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED                                                         | ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 3.375000% 07/24/2024            | CUSIP: Y00130RW9<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | NUSS              | IN        |    364000 | PA      | $346054.52    | 0.11%             | 2024-07-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Banco de Credito del Peru                                                                             | BANCO DE CREDITO DEL PERU S.A. 2.700000% 01/11/2025                     | CUSIP: 05971V2A2<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | NUSS              | PE        |    636000 | PA      | $601021.27    | 0.20%             | 2025-01-11      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LIMITED                                                                         | SHIMAO GROUP HOLDINGS LTD 5.200000% 01/16/2027                          | CUSIP: BR4151782<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | NUSS              | CN        |    311000 | PA      | $55979.93     | 0.02%             | 2027-01-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| QNB FINANSBANK ANONIM SIRKETI                                                                         | QNB FINANSBANK AS 6.875000% 09/07/2024                                  | CUSIP: N/A<br>LEI: 789000Q21SW842S9IJ58       | Long             | DBT              | NUSS              | TR        |    361000 | PA      | $367948.53    | 0.12%             | 2024-09-07      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TURKCELL ILETISIM HIZMETLERI ANONIM SIRKETI                                                           | TURKCELL ILETISIM HIZMETLERI AS 5.750000% 10/15/2025                    | CUSIP: N/A<br>LEI: 7890003EX1LTLS2FFL84       | Long             | DBT              | NUSS              | TR        |    655000 | PA      | $614612.70    | 0.20%             | 2025-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                                   | PETROLEOS MEXICANOS 6.500000% 03/13/2027                                | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    673000 | PA      | $614058.12    | 0.20%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Banco Inbursa, S. A., Institucion de Banca Multiple, Grupo Financiero Inbursa                         | BANCO INBURSA SA INSTITUCION DE BANCA MULTIPLE GRU 4.375000% 04/11/2027 | CUSIP: P13296AM3<br>LEI: 9598007PWYZP4GP23S45 | Long             | DBT              | NUSS              | MX        |   1122000 | PA      | $1057485.00   | 0.34%             | 2027-04-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SURA Asset Management S.A.                                                                            | SURA ASSET MANAGEMENT SA 4.875000% 04/17/2024                           | CUSIP: N8370TAA4<br>LEI: 549300013ETMS1C0EA22 | Long             | DBT              | NUSS              | CO        |    358000 | PA      | $356768.48    | 0.12%             | 2024-04-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Centrais Eletricas Brasileiras S.A.                                                                   | CENTRAIS ELETRICAS BRASILEIRAS SA 3.625000% 02/04/2025                  | CUSIP: P22835AA3<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | NUSS              | BR        |    311000 | PA      | $295530.86    | 0.10%             | 2025-02-04      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| NBK SPC LIMITED                                                                                       | NBK SPC LTD 1.625000% 09/15/2027                                        | CUSIP: N/A<br>LEI: 549300P1ANDK86KWB419       | Long             | DBT              | NUSS              | KW        |    250000 | PA      | $219500.00    | 0.07%             | 2027-09-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| AXIATA SPV2 BERHAD                                                                                    | AXIATA SPV2 BHD MTN 4.357000% 03/24/2026                                | CUSIP: N/A<br>LEI: 254900P49KQFQ10AF282       | Long             | DBT              | NUSS              | MY        |    819000 | PA      | $798377.58    | 0.26%             | 2026-03-24      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| BRAZILIAN REAL                                                                                        | FX Forward Contract: BRL/USD SETTLE 2023-01-04                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | BR        |         1 | NC      | $15179.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                                                          | BARCLAYS PLC 4.375000% 01/12/2026                                       | CUSIP: 06738EAN5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | NUSS              | GB        |    690000 | PA      | $668399.16    | 0.22%             | 2026-01-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SMC GLOBAL POWER HOLDINGS CORP.                                                                       | SMC GLOBAL POWER HOLDINGS CORP 7.000000% MATURITY: PERPETUAL            | CUSIP: N/A<br>LEI: 549300HBCE80QXKII590       | Long             | DBT              | NUSS              | PH        |    632000 | PA      | $477160.00    | 0.16%             | 2171-04-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS LTD.                                                                           | FIRST QUANTUM MINERALS LTD 6.875000% 03/01/2026                         | CUSIP: C3535CAJ7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | NUSS              | ZM        |    363000 | PA      | $343768.84    | 0.11%             | 2026-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BANK OF THE PHILIPPINE ISLANDS                                                                        | BANK OF THE PHILIPPINE ISLANDS MTN 4.250000% 09/04/2023                 | CUSIP: N/A<br>LEI: 549300UW4UH6XT2X8C50       | Long             | DBT              | NUSS              | PH        |    379000 | PA      | $374603.60    | 0.12%             | 2023-09-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond LTD                                                                                    | LEVIATHAN BOND LTD 144A 6.125000% 06/30/2025                            | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | NUSS              | IL        |    636026 | PA      | $621715.42    | 0.20%             | 2025-06-30      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ABQ FINANCE LIMITED                                                                                   | ABQ FINANCE LTD MTN 3.125000% 09/24/2024                                | CUSIP: N/A<br>LEI: 549300EKNBMBS9DNYE37       | Long             | DBT              | NUSS              | QA        |    212000 | PA      | $203138.82    | 0.07%             | 2024-09-24      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond LTD                                                                                    | LEVIATHAN BOND LTD 144A 6.500000% 06/30/2027                            | CUSIP: N/A<br>LEI: 254900D9T8VKYVQNZ220       | Long             | DBT              | NUSS              | IL        |    620000 | PA      | $599912.00    | 0.20%             | 2027-06-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| RIYAD SUKUK LIMITED                                                                                   | RIYAD SUKUK LTD 3.174000% 02/25/2030                                    | CUSIP: N/A<br>LEI: 549300P8GI2KKEMZUH97       | Long             | DBT              | NUSS              | SA        |    644000 | PA      | $607781.44    | 0.20%             | 2030-02-25      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| SK hynix Inc.                                                                                         | SK HYNIX INC 144A 1.500000% 01/19/2026                                  | CUSIP: 78392BAB3<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | NUSS              | KR        |   1700000 | PA      | $1474818.00   | 0.48%             | 2026-01-19      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/CNY SETTLE 2023-01-20                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-27495.99    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Sino-Ocean Land Treasure Finance I Limited                                                            | SINO-OCEAN LAND TREASURE FINANCE I LTD 6.000000% 07/30/2024             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | CN        |    248000 | PA      | $158720.00    | 0.05%             | 2024-07-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASHREQ BANK PSC                                                                                      | MASHREQBANK PSC MTN 4.250000% 02/26/2024                                | CUSIP: N/A<br>LEI: 5493000SA3K24EQKA103       | Long             | DBT              | NUSS              | AE        |    990000 | PA      | $969604.02    | 0.32%             | 2024-02-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LIMITED                                                                         | SHIMAO GROUP HOLDINGS LTD 6.125000% 02/21/2024                          | CUSIP: N/A<br>LEI: 254900WTJ6B5CU69ZD26       | Long             | DBT              | NUSS              | CN        |    312000 | PA      | $57372.93     | 0.02%             | 2024-02-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| KOOKMIN BANK                                                                                          | KOOKMIN BANK MTN 4.350000% MATURITY: PERPETUAL                          | CUSIP: Y4822WCT5<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | NUSS              | KR        |    726000 | PA      | $678642.33    | 0.22%             | 2172-01-02      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                                                      | COMISION FEDERAL DE ELECTRICIDAD 4.750000% 02/23/2027                   | CUSIP: P29595AB4<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | NUSS              | MX        |   1506000 | PA      | $1404345.00   | 0.46%             | 2027-02-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| The Hashemite Kingdom of Jordan                                                                       | KINGDOM OF JORDAN 4.950000% 07/07/2025                                  | CUSIP: N/A<br>LEI: 5493000JZ4MYPVMBVN50       | Long             | DBT              | NUSS              | JO        |    800000 | PA      | $765865.60    | 0.25%             | 2025-07-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                                                               | SAUDI GOVERNMENT INTERNATIONAL BOND MTN 3.250000% 10/26/2026            | CUSIP: N/A<br>LEI: 635400FMICXSM3SI3H65       | Long             | DBT              | NUSS              | SA        |   2246000 | PA      | $2143622.83   | 0.70%             | 2026-10-26      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ICICI BANK LIMITED                                                                                    | ICICI BANK LTD/DUBAI MTN 4.000000% 03/18/2026                           | CUSIP: 45112FAJ5<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |    765000 | PA      | $727511.80    | 0.24%             | 2026-03-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SK hynix Inc.                                                                                         | SK HYNIX INC 3.000000% 09/17/2024                                       | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | DBT              | NUSS              | KR        |    500000 | PA      | $471561.98    | 0.15%             | 2024-09-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHINA SCE GROUP HOLDINGS LIMITED                                                                      | CHINA SCE GROUP HOLDINGS LTD 7.375000% 04/09/2024                       | CUSIP: N/A<br>LEI: 549300Q8UEI2ERAP6P49       | Long             | DBT              | NUSS              | CN        |    500000 | PA      | $226250.00    | 0.07%             | 2024-04-09      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| OZTEL HOLDINGS SPC LIMITED                                                                            | OZTEL HOLDINGS SPC LTD 6.625000% 04/24/2028                             | CUSIP: N/A<br>LEI: 549300RABIG0RH4JYT64       | Long             | DBT              | NUSS              | OM        |    288000 | PA      | $288014.98    | 0.09%             | 2028-04-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ENN Clean Energy International Investment Limited                                                     | ENN CLEAN ENERGY INTERNATIONAL INVESTMENT LTD 144A 3.375000% 05/12/2026 | CUSIP: 268733AA0<br>LEI: 3003009YZ3S5V395NR77 | Long             | DBT              | NUSS              | CN        |   1650000 | PA      | $1439388.01   | 0.47%             | 2026-05-12      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Puma International Financing S.A.                                                                     | PUMA INTERNATIONAL FINANCING SA 5.125000% 10/06/2024                    | CUSIP: N/A<br>LEI: 222100YFBPO7IDRUBR17       | Long             | DBT              | NUSS              | SG        |   1979000 | PA      | $1843953.04   | 0.60%             | 2024-10-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | E-MINI RUSS 2000  MAR23 PHYSICAL INDEX FUTURE.                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        11 | NC      | $973995.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FIBRIA OVERSEAS FINANCE LTD.                                                                          | FIBRIA OVERSEAS FINANCE LTD 4.000000% 01/14/2025                        | CUSIP: 31572UAG1<br>LEI: 549300WABWKSHESAMG92 | Long             | DBT              | NUSS              | BR        |    310000 | PA      | $300700.00    | 0.10%             | 2025-01-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN (RSC) LTD                                                                                   | MDGH GMTN RSC LTD MTN 2.500000% 05/21/2026                              | CUSIP: N/A<br>LEI: 213800WRY6FRL9IXLT77       | Long             | DBT              | NUSS              | AE        |   3070000 | PA      | $2839473.70   | 0.92%             | 2026-05-21      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Gobierno de la Republica Dominicana                                                                   | DOMINICAN REPUBLIC 5.500000% 01/27/2025                                 | CUSIP: P3579EBD8<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1187000 | PA      | $1176520.56   | 0.38%             | 2025-01-27      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DAR AL-ARKAN SUKUK COMPANY LTD.                                                                       | DAR AL-ARKAN SUKUK CO LTD 6.750000% 02/15/2025                          | CUSIP: N/A<br>LEI: 5493000UYHRBXEIYUQ69       | Long             | DBT              | NUSS              | SA        |    672000 | PA      | $650133.12    | 0.21%             | 2025-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JANUB GAZ DAHLIZI GAPALI SAHMDAR JAMIYYATI                                                            | SOUTHERN GAS CORRIDOR CJSC 6.875000% 03/24/2026                         | CUSIP: N/A<br>LEI: 213800DG58KG59XY6318       | Long             | DBT              | NUSS              | AZ        |    626000 | PA      | $640911.32    | 0.21%             | 2026-03-24      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fortune Star (BVI) Limited                                                                            | FORTUNE STAR BVI LTD 5.000000% 05/18/2026                               | CUSIP: N/A<br>LEI: 2549008CU8NYQQRSNU62       | Long             | DBT              | NUSS              | CN        |    400000 | PA      | $270280.00    | 0.09%             | 2026-05-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Republic of Lebanon                                                                                   | LEBANON GOVERNMENT INTERNATIONAL BOND MTN 6.150000% 06/19/2020          | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   2770000 | PA      | $158444.00    | 0.05%             | 2023-12-31      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                                                     | HSBC HOLDINGS PLC 7.336000% 11/03/2026                                  | CUSIP: 404280DQ9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | NUSS              | GB        |   1752000 | PA      | $1824806.97   | 0.59%             | 2026-11-03      | Fixed         | 7.34%                 | No            |                  2 | On Loan: No      |
| ABJA INVESTMENT CO. PTE. LTD.                                                                         | ABJA INVESTMENT CO PTE LTD 5.950000% 07/31/2024                         | CUSIP: N/A<br>LEI: 254900E6OE5YJ9WCCU19       | Long             | DBT              | NUSS              | IN        |   1074000 | PA      | $1070133.60   | 0.35%             | 2024-07-31      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                                                                  | YPF SA 8.500000% 07/28/2025                                             | CUSIP: P989MJBE0<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | NUSS              | AR        |   1278000 | PA      | $1071063.25   | 0.35%             | 2025-07-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/EGP SETTLE 2023-01-30                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $160549.12    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                                                                             | SAUDI ARABIAN OIL CO 144A 1.625000% 11/24/2025                          | CUSIP: 80414L2H7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |   1700000 | PA      | $1548383.80   | 0.50%             | 2025-11-24      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| CHINA RAILWAY XUNJIE CO., LIMITED                                                                     | CHINA RAILWAY XUNJIE CO LTD 3.250000% 07/28/2026                        | CUSIP: N/A<br>LEI: 300300YS8XX94W7OT806       | Long             | DBT              | NUSS              | CN        |    307000 | PA      | $292574.07    | 0.10%             | 2026-07-28      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OZTEL HOLDINGS SPC LIMITED                                                                            | OZTEL HOLDINGS SPC LTD 5.625000% 10/24/2023                             | CUSIP: N/A<br>LEI: 549300RABIG0RH4JYT64       | Long             | DBT              | NUSS              | OM        |    785000 | PA      | $779189.43    | 0.25%             | 2023-10-24      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Woori Bank                                                                                            | WOORI BANK MTN 4.250000% MATURITY: PERPETUAL                            | CUSIP: Y9700WAA4<br>LEI: 549300VUVMRL6RE7R376 | Long             | DBT              | NUSS              | KR        |    723000 | PA      | $678897.00    | 0.22%             | 2171-04-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PT Bank Mandiri (Persero) Tbk                                                                         | BANK MANDIRI PERSERO TBK PT MTN 4.750000% 05/13/2025                    | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | DBT              | NUSS              | ID        |    300000 | PA      | $293217.00    | 0.10%             | 2025-05-13      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BANCO DO BRASIL S.A.                                                                                  | BANCO DO BRASIL SA/CAYMAN 144A 3.250000% 09/30/2026                     | CUSIP: 059578AF1<br>LEI: N/A                  | Long             | DBT              | NUSS              | BR        |   1500000 | PA      | $1380840.00   | 0.45%             | 2026-09-30      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LIMITED                                                                          | SUNAC CHINA HOLDINGS LTD 7.500000% 02/01/2024                           | CUSIP: N/A<br>LEI: 549300OLARYHDXP3WK18       | Long             | DBT              | NUSS              | CN        |   1392000 | PA      | $298477.57    | 0.10%             | 2024-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                                                                           | BANK OF AMERICA CORP 3.841000% 04/25/2025                               | CUSIP: 06051GKS7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2608000 | PA      | $2548788.46   | 0.83%             | 2025-04-25      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| BOS FUNDING LIMITED                                                                                   | BOS FUNDING LTD MTN 4.000000% 09/18/2024                                | CUSIP: G12592AD6<br>LEI: 635400PTLHUGAMGH6I34 | Long             | DBT              | NUSS              | AE        |    310000 | PA      | $294977.40    | 0.10%             | 2024-09-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/EUR SETTLE 2023-01-20                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-18745.89    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BRK: JPMORGAN CHASE BANK, N.A.                                                                        | BRK: JPMORGAN CHASE BANK, N.A. REC: USD @ 2.77745%                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | XX        |   4485000 | NC      | $-389707.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| WEST CHINA CEMENT LIMITED                                                                             | WEST CHINA CEMENT LTD 4.950000% 07/08/2026                              | CUSIP: N/A<br>LEI: 529900MMG3NBTIWPPR63       | Long             | DBT              | NUSS              | CN        |    316000 | PA      | $263939.00    | 0.09%             | 2026-07-08      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DIB SUKUK LIMITED                                                                                     | DIB SUKUK LTD 2.950000% 02/20/2025                                      | CUSIP: N/A<br>LEI: 549300U3ZMUHC2JQLL56       | Long             | DBT              | NUSS              | AE        |    936000 | PA      | $890982.14    | 0.29%             | 2025-02-20      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Republic of Zambia                                                                                    | REPUBLIC OF ZAMBIA 8.500000% 04/14/2024                                 | CUSIP: N/A<br>LEI: 213800DMLAZ6LGMMD849       | Long             | DBT              | NUSS              | ZM        |    811000 | PA      | $364950.00    | 0.12%             | 2024-04-14      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Totalplay Telecomunicaciones S.A. de C.V.                                                             | TOTAL PLAY TELECOMUNICACIONES SA DE CV 7.500000% 11/12/2025             | CUSIP: P9190NAB9<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | NUSS              | MX        |    660000 | PA      | $579810.00    | 0.19%             | 2025-11-12      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BPRL INTERNATIONAL SINGAPORE PTE. LTD.                                                                | BPRL INTERNATIONAL SINGAPORE PTE LTD MTN 4.375000% 01/18/2027           | CUSIP: N/A<br>LEI: 875500AQ853IMLV4TX18       | Long             | DBT              | NUSS              | IN        |    728000 | PA      | $684726.67    | 0.22%             | 2027-01-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NTPC LIMITED                                                                                          | NTPC LTD MTN 4.250000% 02/26/2026                                       | CUSIP: N/A<br>LEI: 335800Q4TRGJXNLVMB81       | Long             | DBT              | NUSS              | IN        |    764000 | PA      | $735539.02    | 0.24%             | 2026-02-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HIKMA FINANCE USA LLC                                                                                 | HIKMA FINANCE USA LLC 3.250000% 07/09/2025                              | CUSIP: N/A<br>LEI: 213800BU7YH2WTM1QL87       | Long             | DBT              | NUSS              | JO        |   1299000 | PA      | $1204640.64   | 0.39%             | 2025-07-09      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| KOC HOLDING ANONIM SIRKETI                                                                            | KOC HOLDING AS 6.500000% 03/11/2025                                     | CUSIP: N/A<br>LEI: 7890005U0H950VH19H45       | Long             | DBT              | NUSS              | TR        |    300000 | PA      | $296172.00    | 0.10%             | 2025-03-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS-SONOMA, INC.                                                                                 | WSM US 05/19/23 P100 LONG                                               | CUSIP: 9K0992ZH0<br>LEI: 549300IARG6YWVTZ1I92 | N/A              | DE               |  | US        |        14 | NC      | $9940.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE BANK OF INDIA                                                                                   | STATE BANK OF INDIA/LONDON 4.375000% 01/24/2024                         | CUSIP: Y81647AE2<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |    110000 | PA      | $108593.28    | 0.04%             | 2024-01-24      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                                              | REPUBLIC OF SOUTH AFRICA 4.850000% 09/27/2027                           | CUSIP: 836205AW4<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    688000 | PA      | $651880.00    | 0.21%             | 2027-09-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| REC LIMITED                                                                                           | REC LTD 3.500000% 12/12/2024                                            | CUSIP: N/A<br>LEI: 335800B4YRYWAMIJZ374       | Long             | DBT              | NUSS              | IN        |    715000 | PA      | $684791.25    | 0.22%             | 2024-12-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NBM US HOLDINGS, INC.                                                                                 | NBM US HOLDINGS INC 7.000000% 05/14/2026                                | CUSIP: U63768AA0<br>LEI: 5493008K1QMSP0J8UC24 | Long             | DBT              | NUSS              | BR        |   1316000 | PA      | $1306801.16   | 0.43%             | 2026-05-14      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNIGEL Luxembourg S.A.                                                                                | UNIGEL LUXEMBOURG SA 144A 8.750000% 10/01/2026                          | CUSIP: 904752AB8<br>LEI: N/A                  | Long             | DBT              | NUSS              | BR        |   1350000 | PA      | $1343250.00   | 0.44%             | 2026-10-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Yandex N.V.                                                                                           | YANDEX NV-A COMMON STOCK                                                | CUSIP: N97284108<br>LEI: 549300GGZHJ5Q1B18P93 | Long             | EC               |  | US        |     28548 | NS      | $175855.68    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LIGHT SERVICOS DE ELETRICIDADE S A                                                                    | LIGHT SERVICOS DE ELETRICIDADE SA/LIGHT ENERGIA SA 4.375000% 06/18/2026 | CUSIP: 53227QAB4<br>LEI: N/A                  | Long             | DBT              | NUSS              | BR        |   1000000 | PA      | $836985.74    | 0.27%             | 2026-06-18      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Canacol Energy Ltd.                                                                                   | CANACOL ENERGY LTD 144A 5.750000% 11/24/2028                            | CUSIP: 134808AD6<br>LEI: 549300X5MNRWPMSM9N14 | Long             | DBT              | NUSS              | CO        |   1250000 | PA      | $1103750.00   | 0.36%             | 2028-11-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Sands China Ltd.                                                                                      | SANDS CHINA LTD 4.300000% 01/08/2026                                    | CUSIP: 80007RAK1<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | NUSS              | MO        |   1053000 | PA      | $971698.88    | 0.32%             | 2026-01-08      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                                                               | SASOL FINANCING USA LLC 5.875000% 03/27/2024                            | CUSIP: 80386WAA3<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | ZA        |   1273000 | PA      | $1244471.68   | 0.41%             | 2024-03-27      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Gobierno de la Republica Dominicana                                                                   | DOMINICAN REPUBLIC 5.950000% 01/25/2027                                 | CUSIP: P3579EBV8<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1380000 | PA      | $1349999.71   | 0.44%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAZA DEVELOPMENT LTD.                                                                        | CENTRAL PLAZA DEVELOPMENT LTD 4.650000% 01/19/2026                      | CUSIP: N/A<br>LEI: 254900HLDKFNM2WUVJ54       | Long             | DBT              | NUSS              | CN        |    345000 | PA      | $273671.25    | 0.09%             | 2026-01-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/ZAR SETTLE 2023-01-05                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-72494.47    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CHINALCO CAPITAL HOLDINGS LIMITED                                                                     | CHINALCO CAPITAL HOLDINGS LTD 2.125000% 06/03/2026                      | CUSIP: N/A<br>LEI: 5493003PX4GYVUD3CQ19       | Long             | DBT              | NUSS              | CN        |    567000 | PA      | $512993.25    | 0.17%             | 2026-06-03      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MEDCO BELL PTE. LTD.                                                                                  | MEDCO BELL PTE LTD 6.375000% 01/30/2027                                 | CUSIP: Y56607AA5<br>LEI: 2549003PNDCWIWGKC768 | Long             | DBT              | NUSS              | ID        |    550000 | PA      | $495930.73    | 0.16%             | 2027-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Empresa Nacional de Telecomunicaciones S.A.                                                           | EMPRESA NACIONAL DE TELECOMUNICACIONES SA 4.750000% 08/01/2026          | CUSIP: P37115AF2<br>LEI: 529900N4SUIP0URJT330 | Long             | DBT              | NUSS              | CL        |    560000 | PA      | $540400.00    | 0.18%             | 2026-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| INDIAN OIL CORPORATION LIMITED                                                                        | INDIAN OIL CORP LTD 4.750000% 01/16/2024                                | CUSIP: N/A<br>LEI: 335800J8OBWE4VFUDG88       | Long             | DBT              | NUSS              | IN        |    666000 | PA      | $660339.00    | 0.22%             | 2024-01-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| African Export-Import Bank                                                                            | AFRICAN EXPORT-IMPORT BANK/THE 2.634000% 05/17/2026                     | CUSIP: N/A<br>LEI: 21380068LJCDYA42GJ76       | Long             | DBT              | NUSS              | XX        |    336000 | PA      | $302400.00    | 0.10%             | 2026-05-17      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| African Export-Import Bank                                                                            | AFRICAN EXPORT-IMPORT BANK/THE 144A 2.634000% 05/17/2026                | CUSIP: 00831TAB7<br>LEI: 21380068LJCDYA42GJ76 | Long             | DBT              | NUSS              | XX        |    650000 | PA      | $585000.00    | 0.19%             | 2026-05-17      | Fixed         | 2.63%                 | Yes           |                  2 | On Loan: No      |
| POWERLONG REAL ESTATE HOLDINGS LIMITED                                                                | POWERLONG REAL ESTATE HOLDINGS LTD 5.950000% 04/30/2025                 | CUSIP: N/A<br>LEI: 549300R3K12EPXCGDP22       | Long             | DBT              | NUSS              | CN        |    336000 | PA      | $95874.24     | 0.03%             | 2025-04-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EMG SUKUK LIMITED                                                                                     | EMG SUKUK LTD 4.564000% 06/18/2024                                      | CUSIP: N/A<br>LEI: 549300ZBBW15DAXN4O07       | Long             | DBT              | NUSS              | AE        |    446000 | PA      | $438975.50    | 0.14%             | 2024-06-18      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Republic of Trinidad and Tobago                                                                       | TRINIDAD & TOBAGO 4.500000% 08/04/2026                                  | CUSIP: P93960AG0<br>LEI: HYBZ5SXKW67ICKUUWH81 | Long             | DBT              | NUSS              | TT        |    308000 | PA      | $301761.29    | 0.10%             | 2026-08-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THE OIL AND GAS HOLDING COMPANY B.S.C (CLOSED)                                                        | OIL AND GAS HOLDING CO BSCC/THE 7.625000% 11/07/2024                    | CUSIP: N/A<br>LEI: 549300OBH16L6TS6IW50       | Long             | DBT              | NUSS              | BH        |    930000 | PA      | $944805.60    | 0.31%             | 2024-11-07      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MAR SUKUK LIMITED                                                                                     | MAR SUKUK LTD 2.210000% 09/02/2025                                      | CUSIP: N/A<br>LEI: 5493000TGLZ3JMN09026       | Long             | DBT              | NUSS              | QA        |    310000 | PA      | $286378.00    | 0.09%             | 2025-09-02      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| FAB Sukuk Company Limited                                                                             | FAB SUKUK CO LTD 2.500000% 01/21/2025                                   | CUSIP: N/A<br>LEI: 549300JEV79SSEDKS489       | Long             | DBT              | NUSS              | AE        |    400000 | PA      | $379359.98    | 0.12%             | 2025-01-21      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Nostrum Oil & Gas Finance B.V.                                                                        | NOSTRUM OIL & GAS FINANCE BV 8.000000% 07/25/2022                       | CUSIP: N64884AB0<br>LEI: 213800SGF6UKA42KSB50 | Long             | DBT              | NUSS              | KZ        |    212000 | PA      | $55117.88     | 0.02%             | 2022-07-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BANCOLOMBIA S.A.                                                                                      | BANCOLOMBIA SA 3.000000% 01/29/2025                                     | CUSIP: 05968LAM4<br>LEI: 54930052NWJRPNMP1W58 | Long             | DBT              | NUSS              | CO        |    673000 | PA      | $636958.40    | 0.21%             | 2025-01-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fideicomiso Fibra UNO (Banco Actinver, S.A. Institucion de Banca Multiple, Grupo Financiero Actinver) | TRUST FIBRA UNO 5.250000% 01/30/2026                                    | CUSIP: P9406GAC2<br>LEI: 54930011BLQ0JPRBAL73 | Long             | DBT              | NUSS              | MX        |    600000 | PA      | $579000.00    | 0.19%             | 2026-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Romania                                                                                               | ROMANIA 3.000000% 02/27/2027                                            | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |   1318000 | PA      | $1166074.14   | 0.38%             | 2027-02-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FINANCE COMPANY INTERNATIONAL LTD.                                                     | TENGIZCHEVROIL FINANCE CO INTERNATIONAL LTD 144A 2.625000% 08/15/2025   | CUSIP: 88034QAB3<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | NUSS              | KZ        |    900000 | PA      | $770409.00    | 0.25%             | 2025-08-15      | Fixed         | 2.62%                 | Yes           |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERGY COMPANY - P.J.S.C                                                           | ABU DHABI NATIONAL ENERGY CO PJSC MTN 3.875000% 05/06/2024              | CUSIP: N/A<br>LEI: 213800UNJSVQFNUYYW03       | Long             | DBT              | NUSS              | AE        |    722000 | PA      | $710267.50    | 0.23%             | 2024-05-06      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SHANGHAI ELECTRIC GROUP GLOBAL INVESTMENT LIMITED                                                     | SHANGHAI ELECTRIC GROUP GLOBAL INVESTMENT LTD 2.650000% 11/21/2024      | CUSIP: N/A<br>LEI: 529900Y3SWJ0FFDION78       | Long             | DBT              | NUSS              | CN        |    632000 | PA      | $589163.04    | 0.19%             | 2024-11-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                                   | PETROLEOS MEXICANOS 7.690000% 01/23/2050                                | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   4833000 | PA      | $3344507.53   | 1.09%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HOLDINGS LIMITED                                                                          | TIMES CHINA HOLDINGS LTD 5.750000% 01/14/2027                           | CUSIP: N/A<br>LEI: 2549000KTINB9ZPZP710       | Long             | DBT              | NUSS              | CN        |    667000 | PA      | $107632.74    | 0.04%             | 2027-01-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Contemporary Ruiding Development Limited                                                              | CONTEMPORARY RUIDING DEVELOPMENT LTD 1.875000% 09/17/2025               | CUSIP: N/A<br>LEI: 549300MSU00BINFBY870       | Long             | DBT              | NUSS              | CN        |    666000 | PA      | $599337.34    | 0.20%             | 2025-09-17      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| KOREA ELECTRIC POWER CORPORATION                                                                      | KOREA ELECTRIC POWER CORP 144A 3.625000% 06/14/2025                     | CUSIP: 500631AV8<br>LEI: 988400QG33WS7JEIV602 | Long             | DBT              | NUSS              | KR        |   1000000 | PA      | $957390.00    | 0.31%             | 2025-06-14      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| SA GLOBAL SUKUK LIMITED                                                                               | SA GLOBAL SUKUK LTD 144A 1.602000% 06/17/2026                           | CUSIP: 78397PAB7<br>LEI: 5493007DFAVKU7UOGR47 | Long             | DBT              | NUSS              | SA        |    300000 | PA      | $267754.20    | 0.09%             | 2026-06-17      | Fixed         | 1.60%                 | Yes           |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON ANONIM SIRKETI                                                                  | TURK TELEKOMUNIKASYON AS 4.875000% 06/19/2024                           | CUSIP: N/A<br>LEI: 789000A2TXOI10JZLF90       | Long             | DBT              | NUSS              | TR        |    213000 | PA      | $199559.70    | 0.06%             | 2024-06-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PETRON CORP.                                                                                          | PETRON CORP 5.950000% MATURITY: PERPETUAL                               | CUSIP: N/A<br>LEI: 549300R3PFXOFQSZ7G25       | Long             | DBT              | NUSS              | PH        |    316000 | PA      | $268284.00    | 0.09%             | 2171-10-19      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Ukraine                                                                                               | UKRAINE GOVERNMENT 7.750000% 09/01/2026                                 | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |    619000 | PA      | $127538.76    | 0.04%             | 2026-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Federal Republic of Nigeria                                                                           | NIGERIA GOVERNMENT INTERNATIONAL BOND MTN 6.500000% 11/28/2027          | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |    677000 | PA      | $544985.00    | 0.18%             | 2027-11-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EGYPTIAN POUND                                                                                        | FX Forward Contract: EGP/USD SETTLE 2023-01-30                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | EG        |         1 | NC      | $-56330.90    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Lebanon                                                                                   | LEBANON GOVERNMENT INTERNATIONAL BOND MTN 6.850000% 05/25/2029          | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   1594000 | PA      | $91655.00     | 0.03%             | 2029-05-25      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Banco Inbursa, S. A., Institucion de Banca Multiple, Grupo Financiero Inbursa                         | BANCO INBURSA SA INSTITUCION DE BANCA MULTIPLE GRU 4.125000% 06/06/2024 | CUSIP: P13296AL5<br>LEI: 9598007PWYZP4GP23S45 | Long             | DBT              | NUSS              | MX        |    626000 | PA      | $611132.50    | 0.20%             | 2024-06-06      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Turkiye Cumhuriyeti                                                                                   | REPUBLIC OF TURKEY 9.875000% 01/15/2028                                 | CUSIP: 900123DF4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |   4858000 | PA      | $5026834.93   | 1.64%             | 2028-01-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                                                              | US 10YR ULTRA FUT MAR23 FINANCIAL COMMODITY FUTURE.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -8 | NC      | $-946250.00   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| SNB FUNDING LIMITED                                                                                   | SNB FUNDING LTD 2.900000% 01/29/2027                                    | CUSIP: N/A<br>LEI: 549300PT73WJRNMAKE44       | Long             | DBT              | NUSS              | SA        |    310000 | PA      | $286575.16    | 0.09%             | 2027-01-29      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| SHINHAN BANK                                                                                          | SHINHAN BANK CO LTD MTN 3.875000% 03/24/2026                            | CUSIP: 82460EAJ9<br>LEI: 5493003P813VL21KG928 | Long             | DBT              | NUSS              | KR        |   1543000 | PA      | $1441183.97   | 0.47%             | 2026-03-24      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                                                              | TREASURY BILL 0.000000% 01/24/2023                                      | CUSIP: 912796ZL6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19955191.20  | 6.50%             | 2023-01-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| POSCO Holdings Inc.                                                                                   | POSCO 2.750000% 07/15/2024                                              | CUSIP: Y70750BL0<br>LEI: 988400E5HRVX81AYLM04 | Long             | DBT              | NUSS              | KR        |    361000 | PA      | $347093.04    | 0.11%             | 2024-07-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/ZAR SETTLE 2023-01-05                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-68360.85    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| EMIRATES DEVELOPMENT BANK P.J.S.C.                                                                    | EMIRATES DEVELOPMENT BANK PJSC MTN 1.639000% 06/15/2026                 | CUSIP: N/A<br>LEI: 5493002OSL5GLN4HID57       | Long             | DBT              | NUSS              | AE        |    310000 | PA      | $276171.56    | 0.09%             | 2026-06-15      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| Clean Renewable Power (Mauritius) Pte. Ltd                                                            | CLEAN RENEWABLE POWER MAURITIUS PTE LTD 144A 4.250000% 03/25/2027       | CUSIP: 18452NAB0<br>LEI: 2138003P9CSDW7P4MT75 | Long             | DBT              | NUSS              | IN        |    334250 | PA      | $289293.38    | 0.09%             | 2027-03-25      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON ANONIM SIRKETI                                                                  | TURK TELEKOMUNIKASYON AS 6.875000% 02/28/2025                           | CUSIP: N/A<br>LEI: 789000A2TXOI10JZLF90       | Long             | DBT              | NUSS              | TR        |    730000 | PA      | $687353.40    | 0.22%             | 2025-02-28      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                                   | PETROLEOS MEXICANOS 6.950000% 01/28/2060                                | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    701000 | PA      | $442961.76    | 0.14%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Bangkok Bank Public Co Ltd (Hong Kong Branch)                                                         | BANGKOK BANK PCL/HONG KONG MTN 5.000000% MATURITY: PERPETUAL            | CUSIP: 06000BAA0<br>LEI: N/A                  | Long             | DBT              | NUSS              | TH        |   1700000 | PA      | $1610744.54   | 0.52%             | 2171-03-23      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| REC LIMITED                                                                                           | REC LTD MTN 2.250000% 09/01/2026                                        | CUSIP: N/A<br>LEI: 335800B4YRYWAMIJZ374       | Long             | DBT              | NUSS              | IN        |    700000 | PA      | $616982.20    | 0.20%             | 2026-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Atento Luxco 1 SA                                                                                     | ATENTO LUXCO 1 SA 144A 8.000000% 02/10/2026                             | CUSIP: 04684LAC2<br>LEI: 549300MLFF3HYCZQTC48 | Long             | DBT              | NUSS              | BR        |    700000 | PA      | $371000.00    | 0.12%             | 2026-02-10      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Yili Holding Investment Limited                                                                       | YILI HOLDING INVESTMENT LTD 1.625000% 11/19/2025                        | CUSIP: N/A<br>LEI: 549300SF6W72SOPKF392       | Long             | DBT              | NUSS              | CN        |    350000 | PA      | $313635.00    | 0.10%             | 2025-11-19      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HOLDINGS COMPANY LIMITED                                                               | COUNTRY GARDEN HOLDINGS CO LTD 5.625000% 12/15/2026                     | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | NUSS              | CN        |    309000 | PA      | $182587.88    | 0.06%             | 2026-12-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Medco Oak Tree Pte. Ltd                                                                               | MEDCO OAK TREE PTE LTD 7.375000% 05/14/2026                             | CUSIP: Y59501AA7<br>LEI: 254900AU06KP3JTGZL51 | Long             | DBT              | NUSS              | ID        |    691000 | PA      | $656733.75    | 0.21%             | 2026-05-14      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL SERVICES, INC.                                                                        | HYUNDAI CAPITAL SERVICES INC MTN 1.250000% 02/08/2026                   | CUSIP: Y3815NBC4<br>LEI: 549300MALMDAGL2ZJJ27 | Long             | DBT              | NUSS              | KR        |    810000 | PA      | $704092.27    | 0.23%             | 2026-02-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| KasikornBank PCL (Hong Kong Branch)                                                                   | KASIKORNBANK PCL/HONG KONG MTN 3.343000% 10/02/2031                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | TH        |    942000 | PA      | $827240.18    | 0.27%             | 2031-10-02      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| PT Pertamina (Persero)                                                                                | PERTAMINA PERSERO PT MTN 3.650000% 07/30/2029                           | CUSIP: 69370RAD9<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | NUSS              | ID        |   1230000 | PA      | $1125591.68   | 0.37%             | 2029-07-30      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Perusahaan Penerbit Surat Berharga Syariah Negara Indonesia III                                       | PERUSAHAAN PENERBIT SBSN INDONESIA III 144A 4.400000% 06/06/2027        | CUSIP: 71567PAU4<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |   2000000 | PA      | $1977751.66   | 0.64%             | 2027-06-06      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| RAIL CAPITAL MARKETS PLC                                                                              | UKRAINE RAILWAYS VIA RAIL CAPITAL MARKETS PLC 8.250000% 07/09/2024      | CUSIP: N/A<br>LEI: 213800IW9C7PR3HKI783       | Long             | DBT              | NUSS              | UA        |    652000 | PA      | $119968.00    | 0.04%             | 2024-07-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CIFI HOLDINGS (GROUP) CO. LTD.                                                                        | CIFI HOLDINGS GROUP CO LTD 6.000000% 07/16/2025                         | CUSIP: G2140AAV9<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | NUSS              | CN        |    622000 | PA      | $160345.12    | 0.05%             | 2025-07-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TUPY OVERSEAS S.A.                                                                                    | TUPY OVERSEAS SA 144A 4.500000% 02/16/2031                              | CUSIP: 89990BAB6<br>LEI: 222100ZREIYU6AS2OO19 | Long             | DBT              | NUSS              | BR        |    400000 | PA      | $333404.00    | 0.11%             | 2031-02-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HTA Group, Ltd                                                                                        | HTA GROUP LTD/MAURITIUS 144A 7.000000% 12/18/2025                       | CUSIP: 40435WAB6<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | NUSS              | MU        |   1500000 | PA      | $1380000.00   | 0.45%             | 2025-12-18      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LIMITED                                                                            | ESKOM HOLDINGS SOC LTD 4.314000% 07/23/2027                             | CUSIP: N/A<br>LEI: 3789001900ED06F65111       | Long             | DBT              | NUSS              | ZA        |    690000 | PA      | $600300.00    | 0.20%             | 2027-07-23      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HOLDINGS COMPANY LIMITED                                                               | COUNTRY GARDEN HOLDINGS CO LTD 6.500000% 04/08/2024                     | CUSIP: G24524AZ6<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | NUSS              | CN        |    622000 | PA      | $467021.29    | 0.15%             | 2024-04-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALFA, S.A.B. de C.V.                                                                                  | ALFA SAB DE CV 5.250000% 03/25/2024                                     | CUSIP: P0156PAB5<br>LEI: 549300ZCGJ6T8YDJ4M34 | Long             | DBT              | NUSS              | MX        |    354000 | PA      | $351345.00    | 0.11%             | 2024-03-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TNB GLOBAL VENTURES CAPITAL BERHAD                                                                    | TNB GLOBAL VENTURES CAPITAL BHD MTN 3.244000% 10/19/2026                | CUSIP: N/A<br>LEI: 5493004U8XEGPFWIBZ14       | Long             | DBT              | NUSS              | MY        |    636000 | PA      | $588815.16    | 0.19%             | 2026-10-19      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| MUMTALAKAT SUKUK HOLDING COMPANY                                                                      | MUMTALAKAT SUKUK HOLDING CO 5.625000% 02/27/2024                        | CUSIP: N/A<br>LEI: 549300EN7U0YPUUKDX15       | Long             | DBT              | NUSS              | BH        |   1000000 | PA      | $992500.00    | 0.32%             | 2024-02-27      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Axis Bank Limited (Gandhinagar Branch)                                                                | AXIS BANK LTD/GIFT CITY 144A                                            | CUSIP: 05464XAA3<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |    800000 | PA      | $687376.33    | 0.22%             | 2171-03-08      | Fixed         | 4.10%                 | Yes           |                  2 | On Loan: No      |
| FS Luxembourg S.a r.l.                                                                                | FS LUXEMBOURG SARL 144A 10.000000% 12/15/2025                           | CUSIP: 30315XAB0<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | NUSS              | BR        |    675000 | PA      | $677990.25    | 0.22%             | 2025-12-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| PT Bank Negara Indonesia (Persero) Tbk                                                                | BANK NEGARA INDONESIA PERSERO TBK PT 4.300000% MATURITY: PERPETUAL      | CUSIP: N/A<br>LEI: 549300HZ8J3MLVXQ8F85       | Long             | DBT              | NUSS              | ID        |   1800000 | PA      | $1390845.71   | 0.45%             | 2171-03-24      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Ukraine                                                                                               | UKRAINE GOVERNMENT 7.750000% 09/01/2024                                 | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |   1294000 | PA      | $265347.64    | 0.09%             | 2024-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Korea East-West Power Co., Ltd.                                                                       | KOREA EAST-WEST POWER CO LTD 144A 1.750000% 05/06/2025                  | CUSIP: 5006EPAK7<br>LEI: 549300VDRGYGX9NBTB52 | Long             | DBT              | NUSS              | KR        |   1100000 | PA      | $1015193.17   | 0.33%             | 2025-05-06      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                                               | HYUNDAI CAPITAL AMERICA MTN 2.750000% 09/27/2026                        | CUSIP: 44891CAK9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | NUSS              | US        |   1772000 | PA      | $1585646.22   | 0.52%             | 2026-09-27      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| THE ISRAEL ELECTRIC CORP. LTD.                                                                        | ISRAEL ELECTRIC CORP LTD 144A 5.000000% 11/12/2024                      | CUSIP: 465077AK1<br>LEI: 254900JW7GE35YNJGJ55 | Long             | DBT              | CORP              | IL        |   3973000 | PA      | $3928303.75   | 1.28%             | 2024-11-12      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GULF INTERNATIONAL BANK B.S.C                                                                         | GULF INTERNATIONAL BANK BSC MTN 2.375000% 09/23/2025                    | CUSIP: N/A<br>LEI: 558600JW2XPMLG97TV14       | Long             | DBT              | NUSS              | BH        |    322000 | PA      | $293528.76    | 0.10%             | 2025-09-23      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| National Central Cooling Company PJSC                                                                 | NATIONAL CENTRAL COOLING CO PJSC 2.500000% 10/21/2027                   | CUSIP: N/A<br>LEI: 254900E7M1Y3DXGQ1283       | Long             | DBT              | NUSS              | AE        |    626000 | PA      | $552445.00    | 0.18%             | 2027-10-21      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                                              | US TREASURY N/B 3.000000% 07/15/2025                                    | CUSIP: 91282CEY3<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  14899300 | PA      | $14442426.97  | 4.70%             | 2025-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CA Magnum Holdings                                                                                    | CA MAGNUM HOLDINGS 144A 5.375000% 10/31/2026                            | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | NUSS              | IN        |    300000 | PA      | $273368.42    | 0.09%             | 2026-10-31      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| PT Perusahaan Gas Negara Tbk                                                                          | PERUSAHAAN GAS NEGARA TBK PT 5.125000% 05/16/2024                       | CUSIP: Y7136YAA8<br>LEI: 549300OX1VFDX7ZPN240 | Long             | DBT              | NUSS              | ID        |    710000 | PA      | $703617.31    | 0.23%             | 2024-05-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Republica de Colombia                                                                                 | REPUBLIC OF COLOMBIA 3.875000% 04/25/2027                               | CUSIP: 195325DL6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    966000 | PA      | $854831.75    | 0.28%             | 2027-04-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Banco Centroamericano de Integracion Economica                                                        | CENTRAL AMERICAN BANK FOR ECONOMIC INTEGRATION 144 2.000000% 05/06/2025 | CUSIP: 15238PAF3<br>LEI: 549300OLDAMXBPSHIC05 | Long             | DBT              | NUSS              | XX        |   1800000 | PA      | $1679074.31   | 0.55%             | 2025-05-06      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| CNAC (HK) FINBRIDGE COMPANY LIMITED                                                                   | CNAC HK FINBRIDGE CO LTD 2.000000% 09/22/2025                           | CUSIP: Y1670YAT2<br>LEI: 549300US1UQ7R7WABI28 | Long             | DBT              | NUSS              | CN        |    620000 | PA      | $560294.00    | 0.18%             | 2025-09-22      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                                      | TEVA PHARMACEUTICAL FINANCE NETHERLANDS III BV 7.125000% 01/31/2025     | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | NUSS              | IL        |    633000 | PA      | $629448.87    | 0.21%             | 2025-01-31      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LIMITED                                                                          | SUNAC CHINA HOLDINGS LTD 6.500000% 07/09/2023                           | CUSIP: N/A<br>LEI: 549300OLARYHDXP3WK18       | Long             | DBT              | NUSS              | CN        |    305000 | PA      | $65399.18     | 0.02%             | 2023-07-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AZUL INVESTMENTS LLP                                                                                  | AZUL INVESTMENTS LLP 144A 7.250000% 06/15/2026                          | CUSIP: 05502FAC2<br>LEI: 549300C6XNC8IDH04C74 | Long             | DBT              | CORP              | BR        |    650000 | PA      | $396500.00    | 0.13%             | 2026-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL PLC                                                                            | ANGLO AMERICAN CAPITAL PLC 4.750000% 04/10/2027                         | CUSIP: G0446NAL8<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | NUSS              | ZA        |    363000 | PA      | $351103.72    | 0.11%             | 2027-04-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ABQ FINANCE LIMITED                                                                                   | ABQ FINANCE LTD MTN 1.875000% 09/08/2025                                | CUSIP: N/A<br>LEI: 549300EKNBMBS9DNYE37       | Long             | DBT              | NUSS              | QA        |   1353000 | PA      | $1230050.18   | 0.40%             | 2025-09-08      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Republic of Uzbekistan                                                                                | REPUBLIC OF UZBEKISTAN INTERNATIONAL BOND MTN 4.750000% 02/20/2024      | CUSIP: N/A<br>LEI: 213800L6VDKUM3TCM927       | Long             | DBT              | NUSS              | UZ        |    538000 | PA      | $527934.02    | 0.17%             | 2024-02-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FIRST ABU DHABI BANK P.J.S.C                                                                          | FIRST ABU DHABI BANK PJSC 4.500000% MATURITY: PERPETUAL                 | CUSIP: N/A<br>LEI: 2138002Y3WMK6RZS8H90       | Long             | DBT              | NUSS              | AE        |    682000 | PA      | $652725.83    | 0.21%             | 2171-04-05      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FINANCE COMPANY INTERNATIONAL LTD.                                                     | TENGIZCHEVROIL FINANCE CO INTERNATIONAL LTD 4.000000% 08/15/2026        | CUSIP: G87602AA9<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | NUSS              | KZ        |    981000 | PA      | $837577.80    | 0.27%             | 2026-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AKBANK TURK ANONIM SIRKETI                                                                            | AKBANK TAS 6.800000% 02/06/2026                                         | CUSIP: 00971YAH3<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | NUSS              | TR        |    688000 | PA      | $663212.74    | 0.22%             | 2026-02-06      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| FirstRand Bank Limited                                                                                | FIRSTRAND BANK LTD 6.250000% 04/23/2028                                 | CUSIP: N/A<br>LEI: ZAYQDKTCATIXF9OQY690       | Long             | DBT              | NUSS              | ZA        |    428000 | PA      | $423078.00    | 0.14%             | 2028-04-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Banco Votorantim S.A.                                                                                 | BANCO VOTORANTIM SA MTN 4.375000% 07/29/2025                            | CUSIP: N/A<br>LEI: X2EUTZGMHS8RBQFIUS93       | Long             | DBT              | NUSS              | BR        |    637000 | PA      | $607538.75    | 0.20%             | 2025-07-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NongHyup Bank                                                                                         | NONGHYUP BANK MTN 1.250000% 07/20/2025                                  | CUSIP: 65540KAD7<br>LEI: 988400GSDJCW3LKJBD20 | Long             | DBT              | NUSS              | KR        |    620000 | PA      | $560489.67    | 0.18%             | 2025-07-20      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Gobierno de la Republica Dominicana                                                                   | DOMINICAN REPUBLIC 6.875000% 01/29/2026                                 | CUSIP: P3579EBK2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    879000 | PA      | $886981.89    | 0.29%             | 2026-01-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                                                                             | SAUDI ARABIAN OIL CO 144A 1.250000% 11/24/2023                          | CUSIP: 80414L2G9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |    350000 | PA      | $336442.40    | 0.11%             | 2023-11-24      | Fixed         | 1.25%                 | Yes           |                  2 | On Loan: No      |
| Sino-Ocean Land Treasure Iv Limited                                                                   | SINO-OCEAN LAND TREASURE IV LTD 3.250000% 05/05/2026                    | CUSIP: N/A<br>LEI: 213800EAGXDYG9QWS896       | Long             | DBT              | NUSS              | CN        |    370000 | PA      | $193079.83    | 0.06%             | 2026-05-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PT Cikarang Listrindo Tbk                                                                             | CIKARANG LISTRINDO TBK PT 4.950000% 09/14/2026                          | CUSIP: N5276YAD8<br>LEI: 254900NPCIO562Z7FN53 | Long             | DBT              | NUSS              | ID        |    950000 | PA      | $885673.94    | 0.29%             | 2026-09-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC.                                                                                        | CITIGROUP INC 4.140000% 05/24/2025                                      | CUSIP: 172967NQ0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2608000 | PA      | $2557232.20   | 0.83%             | 2025-05-24      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| POSCO Co., Ltd.                                                                                       | POSCO 4.375000% 08/04/2025                                              | CUSIP: Y7S272AD4<br>LEI: 9884000N94NH7G6LQ816 | Long             | DBT              | NUSS              | KR        |   1060000 | PA      | $1026754.64   | 0.33%             | 2025-08-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE DE DEVELOPPEMENT                                                               | BANQUE OUEST AFRICAINE DE DEVELOPPEMENT 144A 4.700000% 10/22/2031       | CUSIP: 06675QAC7<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | NUSS              | XX        |   1400000 | PA      | $1189440.00   | 0.39%             | 2031-10-22      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| ADANI TRANSMISSION STEP-ONE LIMITED                                                                   | ADANI TRANSMISSION STEP-ONE LTD 4.000000% 08/03/2026                    | CUSIP: N/A<br>LEI: 335800Z8CGS7O7D72N41       | Long             | DBT              | NUSS              | IN        |    309000 | PA      | $275963.44    | 0.09%             | 2026-08-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHARJAH SUKUK PROGRAMME LIMITED                                                                       | SHARJAH SUKUK PROGRAM LTD MTN 3.854000% 04/03/2026                      | CUSIP: N/A<br>LEI: 549300N3BQ9P6RRMVV02       | Long             | DBT              | NUSS              | AE        |   1621000 | PA      | $1546288.11   | 0.50%             | 2026-04-03      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Volcan Compania Minera S.A.A.                                                                         | VOLCAN CIA MINERA SAA 4.375000% 02/11/2026                              | CUSIP: P98047AC0<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | NUSS              | PE        |    330000 | PA      | $284611.38    | 0.09%             | 2026-02-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MTN (MAURITIUS) INVESTMENTS LIMITED                                                                   | MTN MAURITIUS INVESTMENTS LTD 6.500000% 10/13/2026                      | CUSIP: N/A<br>LEI: 2549009PQD415OQIR074       | Long             | DBT              | NUSS              | ZA        |    954000 | PA      | $951740.93    | 0.31%             | 2026-10-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CEMIG GERACAO E TRANSMISSAO S.A                                                                       | CEMIG GERACAO E TRANSMISSAO SA 9.250000% 12/05/2024                     | CUSIP: P2205LAC9<br>LEI: 529900ZT0AVI5W1VFB58 | Long             | DBT              | NUSS              | BR        |    312000 | PA      | $319831.20    | 0.10%             | 2024-12-05      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CEMEX, S.A.B. de C.V.                                                                                 | CEMEX SAB DE CV 5.450000% 11/19/2029                                    | CUSIP: P2253TJN0<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | NUSS              | MX        |   1039000 | PA      | $998582.90    | 0.33%             | 2029-11-19      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DAE Sukuk (DIFC) Ltd                                                                                  | DAE SUKUK DIFC LTD MTN 3.750000% 02/15/2026                             | CUSIP: N/A<br>LEI: 635400AMGMPG1J5EQD94       | Long             | DBT              | NUSS              | AE        |   1765000 | PA      | $1673078.80   | 0.54%             | 2026-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | NDXP US 12/30/22 C11275 LONG                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         2 | NC      | $50.00        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                                                              | TREASURY BILL 0.000000% 02/16/2023                                      | CUSIP: 912796YA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5970162.48   | 1.94%             | 2023-02-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Woori Bank                                                                                            | WOORI BANK MTN 4.750000% 04/30/2024                                     | CUSIP: 98105HAC4<br>LEI: 549300VUVMRL6RE7R376 | Long             | DBT              | NUSS              | KR        |    474000 | PA      | $466325.94    | 0.15%             | 2024-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LIMITED                                                                            | ESKOM HOLDINGS SOC LTD MTN 6.350000% 08/10/2028                         | CUSIP: S25221AV4<br>LEI: 3789001900ED06F65111 | Long             | DBT              | NUSS              | ZA        |    315000 | PA      | $290587.50    | 0.09%             | 2028-08-10      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Prosus N.V.                                                                                           | PROSUS NV 3.257000% 01/19/2027                                          | CUSIP: N7163RAW3<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | NUSS              | CN        |   1321000 | PA      | $1182540.12   | 0.39%             | 2027-01-19      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| MEGLOBAL CANADA ULC                                                                                   | MEGLOBAL CANADA ULC MTN 5.000000% 05/18/2025                            | CUSIP: 58518N2B7<br>LEI: 635400MHHHT7LMKMQL03 | Long             | DBT              | NUSS              | KW        |   1800000 | PA      | $1767600.00   | 0.58%             | 2025-05-18      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CHINALCO CAPITAL HOLDINGS LIMITED                                                                     | CHINALCO CAPITAL HOLDINGS LTD 4.100000% MATURITY: PERPETUAL             | CUSIP: N/A<br>LEI: 5493003PX4GYVUD3CQ19       | Long             | DBT              | NUSS              | CN        |   1223000 | PA      | $1189181.20   | 0.39%             | 2171-03-11      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                                                 | WELLS FARGO & CO MTN 4.540000% 08/15/2026                               | CUSIP: 95000U3C5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2588000 | PA      | $2537640.88   | 0.83%             | 2026-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Banco Santander-Chile                                                                                 | BANCO SANTANDER CHILE 2.700000% 01/10/2025                              | CUSIP: 05971WAC7<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | DBT              | NUSS              | CL        |    680000 | PA      | $641076.32    | 0.21%             | 2025-01-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Banco Santander (Mexico) S.A., Institucion de Banca Multiple, Grupo Financiero Santander Mexico       | BANCO SANTANDER MEXICO SA INSTITUCION DE BANCA MUL 5.375000% 04/17/2025 | CUSIP: P1507SAH0<br>LEI: SCRYQ25DTVRHYYMM6P89 | Long             | DBT              | NUSS              | MX        |    762000 | PA      | $753999.00    | 0.25%             | 2025-04-17      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SK hynix Inc.                                                                                         | SK HYNIX INC 144A 1.000000% 01/19/2024                                  | CUSIP: 78392BAA5<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | NUSS              | KR        |    700000 | PA      | $665027.05    | 0.22%             | 2024-01-19      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| DIFC SUKUK LIMITED                                                                                    | DIFC SUKUK LTD 4.325000% 11/12/2024                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | AE        |    545000 | PA      | $533119.00    | 0.17%             | 2024-11-12      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE LTD                                                                           | ENERGEAN ISRAEL FINANCE LTD 144A 4.500000% 03/30/2024                   | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | NUSS              | IL        |   1648000 | PA      | $1590320.00   | 0.52%             | 2024-03-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| EGYPTIAN POUND                                                                                        | FX Forward Contract: EGP/USD SETTLE 2023-01-18                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | EG        |         1 | NC      | $-65860.76    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| PT PELABUHAN INDONESIA (PERSERO)                                                                      | PELABUHAN INDONESIA PERSERO PT 4.250000% 05/05/2025                     | CUSIP: Y7133MAC3<br>LEI: N/A                  | Long             | DBT              | NUSS              | ID        |   1996000 | PA      | $1923645.00   | 0.63%             | 2025-05-05      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | 3 MONTH SOFR FUT  DEC23 FINANCIAL COMMODITY FUTURE.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | US        |      -104 | NC      | $-24822200.00 | -8.08%            |  |  |  | No            |                  1 | On Loan: No      |
| SHINHAN FINANCIAL GROUP CO.,LTD                                                                       | SHINHAN FINANCIAL GROUP CO LTD 144A 2.875000% MATURITY: PERPETUAL       | CUSIP: 824596AA8<br>LEI: 988400EB8A6G49E5KO54 | Long             | DBT              | NUSS              | KR        |   1200000 | PA      | $1017600.00   | 0.33%             | 2171-11-12      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Greenko Solar (Mauritius) Limited                                                                     | GREENKO SOLAR MAURITIUS LTD 5.550000% 01/29/2025                        | CUSIP: V3855GAA8<br>LEI: 2138007S1PL541B3KP92 | Long             | DBT              | NUSS              | IN        |    450000 | PA      | $422100.00    | 0.14%             | 2025-01-29      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Petrorio Luxembourg Trading S.a. r.l.                                                                 | PETRORIO LUXEMBOURG TRADING SARL 144A 6.125000% 06/09/2026              | CUSIP: 71677WAA0<br>LEI: 222100466T5WZDU1B498 | Long             | DBT              | NUSS              | BR        |    650000 | PA      | $618644.00    | 0.20%             | 2026-06-09      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ECOPETROL S.A.                                                                                        | ECOPETROL SA 6.875000% 04/29/2030                                       | CUSIP: 279158AN9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |   1672000 | PA      | $1515807.01   | 0.49%             | 2030-04-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL PLC                                                                            | ANGLO AMERICAN CAPITAL PLC 144A 4.750000% 04/10/2027                    | CUSIP: 034863AR1<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | NUSS              | ZA        |   1000000 | PA      | $967227.89    | 0.32%             | 2027-04-10      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MAF GLOBAL SECURITIES LIMITED                                                                         | MAF GLOBAL SECURITIES LTD 4.750000% 05/07/2024                          | CUSIP: N/A<br>LEI: 54930037VUDNYTS17017       | Long             | DBT              | NUSS              | AE        |   1349000 | PA      | $1330451.25   | 0.43%             | 2024-05-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Vermilion Energy Inc.                                                                                 | VERMILION ENERGY INC 144A 6.875000% 05/01/2030                          | CUSIP: 923725AD7<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | NUSS              | CA        |    345000 | PA      | $315621.72    | 0.10%             | 2030-05-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Republica de Guatemala                                                                                | REPUBLIC OF GUATEMALA 4.500000% 05/03/2026                              | CUSIP: P5015VAF3<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |   1380000 | PA      | $1324863.38   | 0.43%             | 2026-05-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SHELF DRILLING HOLDINGS, LTD.                                                                         | SHELF DRILLING HOLDINGS LTD 144A 8.875000% 11/15/2024                   | CUSIP: 822538AG9<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | NUSS              | AE        |     43000 | PA      | $42140.00     | 0.01%             | 2024-11-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| TIMES CHINA HOLDINGS LIMITED                                                                          | TIMES CHINA HOLDINGS LTD 6.600000% 03/02/2023                           | CUSIP: N/A<br>LEI: 2549000KTINB9ZPZP710       | Long             | DBT              | NUSS              | CN        |    309000 | PA      | $71224.50     | 0.02%             | 2023-03-02      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| USIMINAS INTERNATIONAL S.a r.l.                                                                       | USIMINAS INTERNATIONAL SARL 5.875000% 07/18/2026                        | CUSIP: L95806AA0<br>LEI: 529900KLYX6QPXVIVP43 | Long             | DBT              | NUSS              | BR        |   1050000 | PA      | $1019471.25   | 0.33%             | 2026-07-18      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Oman Sovereign Sukuk SAOC                                                                             | OMAN SOVEREIGN SUKUK 4.397000% 06/01/2024                               | CUSIP: N/A<br>LEI: 549300KM6RUZQLK8LU36       | Long             | DBT              | NUSS              | OM        |    356000 | PA      | $349392.64    | 0.11%             | 2024-06-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Bharti Airtel International (Netherlands) B.V.                                                        | BHARTI AIRTEL INTERNATIONAL NETHERLANDS BV 5.350000% 05/20/2024         | CUSIP: N1384FAB1<br>LEI: 724500ULW6PWKDAI7I46 | Long             | DBT              | NUSS              | IN        |    620000 | PA      | $616547.15    | 0.20%             | 2024-05-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CSN Resources S.A.                                                                                    | CSN RESOURCES SA 7.625000% 04/17/2026                                   | CUSIP: L21779AD2<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | NUSS              | BR        |    229000 | PA      | $228212.24    | 0.07%             | 2026-04-17      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA.                                                                              | ENFRAGEN ENERGIA SUR SA / ENFRAGEN SPAIN SA / PRIM 5.375000% 12/30/2030 | CUSIP: E4181LAA9<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | NUSS              | CO        |    950000 | PA      | $665000.00    | 0.22%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/BRL SETTLE 2023-01-04                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $7672.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STILLWATER MINING COMPANY                                                                             | STILLWATER MINING CO 4.000000% 11/16/2026                               | CUSIP: U85969AE0<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | NUSS              | ZA        |    317000 | PA      | $278167.50    | 0.09%             | 2026-11-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED                                                         | ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 4.200000% 08/04/2027            | CUSIP: Y00130VS3<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | NUSS              | IN        |    400000 | PA      | $351612.33    | 0.11%             | 2027-08-04      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TULLOW OIL PLC                                                                                        | TULLOW OIL PLC 144A 10.250000% 05/15/2026                               | CUSIP: 899415AG8<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | NUSS              | GH        |    610000 | PA      | $489220.00    | 0.16%             | 2026-05-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| Kenbourne Invest S.A.                                                                                 | KENBOURNE INVEST SA 144A 4.700000% 01/22/2028                           | CUSIP: 48855KAC4<br>LEI: 222100QGH6Y9KFYZ4B27 | Long             | DBT              | NUSS              | CL        |   1100000 | PA      | $857987.38    | 0.28%             | 2028-01-22      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| Orbia Advance Corporation S.A.B. de CV                                                                | ORBIA ADVANCE CORP SAB DE CV 1.875000% 05/11/2026                       | CUSIP: P7S81YAB1<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | NUSS              | MX        |    310000 | PA      | $267762.50    | 0.09%             | 2026-05-11      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Government of Mongolia                                                                                | MONGOLIA GOVERNMENT INTERNATIONAL BOND 144A 3.500000% 07/07/2027        | CUSIP: 60937LAF2<br>LEI: 254900PW61ADCBDCLP71 | Long             | DBT              | NUSS              | MN        |   1000000 | PA      | $797606.59    | 0.26%             | 2027-07-07      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| TSMC Global, Ltd.                                                                                     | TSMC GLOBAL LTD 144A 4.375000% 07/22/2027                               | CUSIP: 872882AM7<br>LEI: 549300N2ZLI21P85T117 | Long             | DBT              | NUSS              | TW        |   1000000 | PA      | $981562.83    | 0.32%             | 2027-07-22      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| RKPF Overseas 2020 (A) Limited                                                                        | RKPF OVERSEAS 2020 A LTD 5.125000% 07/26/2026                           | CUSIP: N/A<br>LEI: 254900LKOLISWWIE7W36       | Long             | DBT              | NUSS              | CN        |    621000 | PA      | $440910.00    | 0.14%             | 2026-07-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LIMITED                                                                            | ESKOM HOLDINGS SOC LTD 7.125000% 02/11/2025                             | CUSIP: N/A<br>LEI: 3789001900ED06F65111       | Long             | DBT              | NUSS              | ZA        |    338000 | PA      | $306876.96    | 0.10%             | 2025-02-11      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TSMC Global, Ltd.                                                                                     | TSMC GLOBAL LTD 1.250000% 04/23/2026                                    | CUSIP: G91139AF5<br>LEI: 549300N2ZLI21P85T117 | Long             | DBT              | NUSS              | TW        |    648000 | PA      | $581259.46    | 0.19%             | 2026-04-23      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BOC AVIATION (USA) CORPORATION                                                                        | BOC AVIATION USA CORP MTN 1.625000% 04/29/2024                          | CUSIP: 66980P2A6<br>LEI: 254900QKLTY6MF4Y3P65 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $189595.57    | 0.06%             | 2024-04-29      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Gol Finance SA                                                                                        | GOL FINANCE SA 7.000000% 01/31/2025                                     | CUSIP: L4441RAA4<br>LEI: 5299007RH8MA67ZC6J07 | Long             | DBT              | NUSS              | BR        |    550000 | PA      | $240625.00    | 0.08%             | 2025-01-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PERIAMA HOLDINGS, LLC                                                                                 | PERIAMA HOLDINGS LLC/DE 5.950000% 04/19/2026                            | CUSIP: N/A<br>LEI: 254900NINXO00BLT2Z47       | Long             | DBT              | NUSS              | IN        |   1515000 | PA      | $1409798.40   | 0.46%             | 2026-04-19      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Republic of Ghana                                                                                     | REPUBLIC OF GHANA 8.125000% 03/26/2032                                  | CUSIP: N/A<br>LEI: 213800PP4399SNNXZ126       | Long             | DBT              | NUSS              | GH        |   1417000 | PA      | $503035.00    | 0.16%             | 2032-03-26      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Banco General S.A.                                                                                    | BANCO GENERAL SA 4.125000% 08/07/2027                                   | CUSIP: P12651AB4<br>LEI: 549300B5C08LGDFB7205 | Long             | DBT              | NUSS              | PA        |    110000 | PA      | $104500.00    | 0.03%             | 2027-08-07      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Independent State of Papua New Guinea                                                                 | PNG GOVT INTL BOND 8.375000% 10/04/2028                                 | CUSIP: Y6726SAP6<br>LEI: 254900NKI6OC90ZW9W36 | Long             | DBT              | NUSS              | PG        |    727000 | PA      | $631036.00    | 0.21%             | 2028-10-04      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                                      | TEVA PHARMACEUTICAL FINANCE NETHERLANDS III BV 3.150000% 10/01/2026     | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | NUSS              | IL        |   2416000 | PA      | $2112792.00   | 0.69%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                                              | REPUBLIC OF SOUTH AFRICA 4.875000% 04/14/2026                           | CUSIP: 836205AT1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   1184000 | PA      | $1144383.36   | 0.37%             | 2026-04-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CREDICORP LTD.                                                                                        | CREDICORP LTD 144A 2.750000% 06/17/2025                                 | CUSIP: 22530EAA0<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | DBT              | NUSS              | PE        |   1000000 | PA      | $935651.32    | 0.30%             | 2025-06-17      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Bahrain                                                                                    | KINGDOM OF BAHRAIN 7.000000% 01/26/2026                                 | CUSIP: N/A<br>LEI: 549300RODM1WN85LFQ95       | Long             | DBT              | NUSS              | BH        |    356000 | PA      | $364481.34    | 0.12%             | 2026-01-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SHINHAN FINANCIAL GROUP CO.,LTD                                                                       | SHINHAN FINANCIAL GROUP CO LTD 2.875000% MATURITY: PERPETUAL            | CUSIP: Y7749XAY7<br>LEI: 988400EB8A6G49E5KO54 | Long             | DBT              | NUSS              | KR        |    600000 | PA      | $508800.00    | 0.17%             | 2171-11-12      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ENDEAVOUR MINING PLC                                                                                  | ENDEAVOUR MINING PLC 144A 5.000000% 10/14/2026                          | CUSIP: 29261HAA3<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | NUSS              | GB        |    800000 | PA      | $685040.00    | 0.22%             | 2026-10-14      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| DOHA FINANCE LIMITED                                                                                  | DOHA FINANCE LTD MTN 2.375000% 03/31/2026                               | CUSIP: N/A<br>LEI: 549300C2SXK7TLB4RX62       | Long             | DBT              | NUSS              | QA        |   1247000 | PA      | $1117997.85   | 0.36%             | 2026-03-31      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | NDX US 02/17/23 P10000 LONG                                             | CUSIP: 18P993795<br>LEI: N/A                  | N/A              | DE               |  | US        |         2 | NC      | $32300.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NETWORK I2I LIMITED                                                                                   | NETWORK I2I LTD 144A 3.975000% MATURITY: PERPETUAL                      | CUSIP: 64132NAC0<br>LEI: 2549003L8M1FGHLHOX45 | Long             | DBT              | NUSS              | IN        |   1100000 | PA      | $957000.00    | 0.31%             | 2171-06-03      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| CREDICORP LTD.                                                                                        | CREDICORP LTD 2.750000% 06/17/2025                                      | CUSIP: G2519YAA6<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | DBT              | NUSS              | PE        |    631000 | PA      | $590395.98    | 0.19%             | 2025-06-17      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Grupo Bimbo S.A.B. de C.V.                                                                            | GRUPO BIMBO SAB DE CV 5.950000% MATURITY: PERPETUAL                     | CUSIP: P4949BAN4<br>LEI: 5493000RIXURZEBFEV60 | Long             | DBT              | NUSS              | MX        |    708000 | PA      | $703051.08    | 0.23%             | 2171-07-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| DIB SUKUK LIMITED                                                                                     | DIB SUKUK LTD MTN 2.950000% 01/16/2026                                  | CUSIP: N/A<br>LEI: 549300U3ZMUHC2JQLL56       | Long             | DBT              | NUSS              | AE        |    310000 | PA      | $289369.50    | 0.09%             | 2026-01-16      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | NASDAQ 100 E-MINI MAR23 PHYSICAL INDEX FUTURE.                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -2 | NC      | $-440890.00   | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| CENCOSUD S.A.                                                                                         | CENCOSUD SA 5.150000% 02/12/2025                                        | CUSIP: P2205JAK6<br>LEI: 549300NLTGCFV7482429 | Long             | DBT              | NUSS              | CL        |   1818000 | PA      | $1803064.82   | 0.59%             | 2025-02-12      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| QNB FINANCE LTD                                                                                       | QNB FINANCE LTD MTN 2.750000% 02/12/2027                                | CUSIP: N/A<br>LEI: 549300MY0DXTHQEX5O57       | Long             | DBT              | NUSS              | QA        |   1833000 | PA      | $1682510.70   | 0.55%             | 2027-02-12      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TELEFONICA CELULAR DEL PARAGUAY SOCIEDAD ANONIMA EMISORA                                              | TELEFONICA CELULAR DEL PARAGUAY SA 5.875000% 04/15/2027                 | CUSIP: P90475AB3<br>LEI: 254900R8A8IKGF4THL54 | Long             | DBT              | NUSS              | PY        |    335000 | PA      | $324280.00    | 0.11%             | 2027-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PT Bank Rakyat Indonesia (Persero) Tbk                                                                | BANK RAKYAT INDONESIA PERSERO TBK PT 3.950000% 03/28/2024               | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | DBT              | NUSS              | ID        |    644000 | PA      | $631564.36    | 0.21%             | 2024-03-28      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HOLDINGS COMPANY LIMITED                                                               | COUNTRY GARDEN HOLDINGS CO LTD 3.125000% 10/22/2025                     | CUSIP: G24524BL6<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | NUSS              | CN        |    625000 | PA      | $380375.05    | 0.12%             | 2025-10-22      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ENDEAVOUR MINING PLC                                                                                  | ENDEAVOUR MINING PLC 5.000000% 10/14/2026                               | CUSIP: G3R41AAA4<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | NUSS              | GB        |    317000 | PA      | $271447.10    | 0.09%             | 2026-10-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PT Perusahaan Listrik Negara (Persero)                                                                | PERUSAHAAN PERSEROAN PERSERO PT PERUSAHAAN LISTRIK 3.875000% 07/17/2029 | CUSIP: 71568QAJ6<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | NUSS              | ID        |   1022000 | PA      | $905561.03    | 0.29%             | 2029-07-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FLEX LTD.                                                                                             | FLEX LTD 4.750000% 06/15/2025                                           | CUSIP: 33938EAU1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | NUSS              | US        |    110000 | PA      | $108113.48    | 0.04%             | 2025-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MARKIT CDX.EM.38 12/27 ICE                                                                            | Credit Default Swap                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | XX        |   1659000 | NC      | $96974.51     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CIFI HOLDINGS (GROUP) CO. LTD.                                                                        | CIFI HOLDINGS GROUP CO LTD 5.950000% 10/20/2025                         | CUSIP: G2140AAW7<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | NUSS              | CN        |    311000 | PA      | $79885.64     | 0.03%             | 2025-10-20      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EI SUKUK COMPANY LTD.                                                                                 | EI SUKUK CO LTD 1.827000% 09/23/2025                                    | CUSIP: N/A<br>LEI: 549300IIDFP0RTSSG071       | Long             | DBT              | NUSS              | AE        |    310000 | PA      | $283840.34    | 0.09%             | 2025-09-23      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| DAE FUNDING LLC                                                                                       | DAE FUNDING LLC MTN 2.625000% 03/20/2025                                | CUSIP: N/A<br>LEI: 635400SZTPQL3Y1P2C76       | Long             | DBT              | NUSS              | AE        |    310000 | PA      | $289478.00    | 0.09%             | 2025-03-20      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Alsea, S.A.B. de C.V.                                                                                 | ALSEA SAB DE CV 144A 7.750000% 12/14/2026                               | CUSIP: 021151AA3<br>LEI: 4469000001BJLPKNUN21 | Long             | DBT              | NUSS              | MX        |   1000000 | PA      | $991800.00    | 0.32%             | 2026-12-14      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| WEIBO CORPORATION                                                                                     | WEIBO CORP 3.500000% 07/05/2024                                         | CUSIP: 948596AD3<br>LEI: 549300Q9ID4640FE0422 | Long             | DBT              | NUSS              | CN        |    400000 | PA      | $387617.90    | 0.13%             | 2024-07-05      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LIQUID TELECOMMUNICATIONS FINANCING PLC                                                               | LIQUID TELECOMMUNICATIONS FINANCING PLC 144A 5.500000% 09/04/2026       | CUSIP: 536333AB3<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | NUSS              | ZA        |    400000 | PA      | $286000.00    | 0.09%             | 2026-09-04      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| KEB Hana Bank                                                                                         | HANA BANK 3.250000% 03/30/2027                                          | CUSIP: 48723TAC5<br>LEI: 6RPK2YDJN6L35AS0M510 | Long             | DBT              | NUSS              | KR        |    300000 | PA      | $279294.77    | 0.09%             | 2027-03-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SK hynix Inc.                                                                                         | SK HYNIX INC 1.500000% 01/19/2026                                       | CUSIP: Y8085FBA7<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | NUSS              | KR        |    300000 | PA      | $260262.00    | 0.08%             | 2026-01-19      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                                                                 | VALE OVERSEAS LTD 6.250000% 08/10/2026                                  | CUSIP: 91911TAP8<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | NUSS              | BR        |    647000 | PA      | $669413.48    | 0.22%             | 2026-08-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| The Hashemite Kingdom of Jordan                                                                       | JORDAN GOVERNMENT INTERNATIONAL BOND 144A 4.950000% 07/07/2025          | CUSIP: 418097AK7<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |    700000 | PA      | $670132.40    | 0.22%             | 2025-07-07      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| INVESTMENT ENERGY RESOURCES LIMITED                                                                   | INVESTMENT ENERGY RESOURCES LTD 144A 6.250000% 04/26/2029               | CUSIP: 46143NAB6<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | NUSS              | GT        |    300000 | PA      | $286650.00    | 0.09%             | 2029-04-26      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CCBL (CAYMAN) 1 CORPORATION LIMITED                                                                   | CCBL CAYMAN 1 CORP LTD MTN 1.990000% 07/21/2025                         | CUSIP: N/A<br>LEI: 549300PPQILFPZT13E12       | Long             | DBT              | NUSS              | CN        |   1678000 | PA      | $1536460.01   | 0.50%             | 2025-07-21      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Gol Finance SA                                                                                        | GOL FINANCE SA 144A 8.000000% 06/30/2026                                | CUSIP: 36254VAC2<br>LEI: 5299007RH8MA67ZC6J07 | Long             | DBT              | NUSS              | BR        |    600000 | PA      | $352996.33    | 0.11%             | 2026-06-30      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SAUDI ELECTRICITY GLOBAL SUKUK COMPANY 3                                                              | SAUDI ELECTRICITY GLOBAL SUKUK CO 3 4.000000% 04/08/2024                | CUSIP: N/A<br>LEI: 549300BJ6IA5S2UFVN71       | Long             | DBT              | NUSS              | SA        |   1362000 | PA      | $1340197.10   | 0.44%             | 2024-04-08      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Africa Finance Corporation                                                                            | AFRICA FINANCE CORP MTN 4.375000% 04/17/2026                            | CUSIP: N/A<br>LEI: 213800LXFHRRXIJRXW97       | Long             | DBT              | NUSS              | XX        |    687000 | PA      | $643444.20    | 0.21%             | 2026-04-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Atento Luxco 1 SA                                                                                     | ATENTO LUXCO 1 SA 8.000000% 02/10/2026                                  | CUSIP: L0427PAD8<br>LEI: 549300MLFF3HYCZQTC48 | Long             | DBT              | NUSS              | BR        |    338000 | PA      | $179140.00    | 0.06%             | 2026-02-10      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TURKIYE IHRACAT KREDI BANKASI ANONIM SIRKETI                                                          | TURK IHRACAT KR 5.750000% 07/06/2026                                    | CUSIP: N/A<br>LEI: 789000JVRVYLAXGDWR11       | Long             | DBT              | NUSS              | TR        |    619000 | PA      | $562305.79    | 0.18%             | 2026-07-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LAREDO PETROLEUM, INC                                                                                 | LAREDO PETROLEUM INC 10.125000% 01/15/2028                              | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   2052000 | PA      | $2001016.69   | 0.65%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| BRF GmbH                                                                                              | BRF GMBH 4.350000% 09/29/2026                                           | CUSIP: A08163AA4<br>LEI: 5299002S6DY5RA2IOQ11 | Long             | DBT              | NUSS              | BR        |    363000 | PA      | $328061.25    | 0.11%             | 2026-09-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LIMITED                                                                               | MUTHOOT FINANCE LTD MTN 4.400000% 09/02/2023                            | CUSIP: 62828L2B8<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | NUSS              | IN        |    360000 | PA      | $352872.00    | 0.11%             | 2023-09-02      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| Grupo de Inversiones Suramericana S.A.                                                                | GRUPO DE INVERSIONES SURAMERICANA SA 5.500000% 04/29/2026               | CUSIP: G42036AB2<br>LEI: 549300AC1Q176TZL0305 | Long             | DBT              | NUSS              | CO        |    730000 | PA      | $704450.00    | 0.23%             | 2026-04-29      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE LTD                                                                           | ENERGEAN ISRAEL FINANCE LTD 144A 4.875000% 03/30/2026                   | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | NUSS              | IL        |    350000 | PA      | $323015.00    | 0.11%             | 2026-03-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                                                               | SAUDI GOVERNMENT INTERNATIONAL BOND MTN 2.900000% 10/22/2025            | CUSIP: 80413TAS8<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |   1000000 | PA      | $956732.00    | 0.31%             | 2025-10-22      | Fixed         | 2.90%                 | Yes           |                  2 | On Loan: No      |
| COMMERCIAL BANK OF DUBAI(PSC)                                                                         | COMMERCIAL BANK OF DUBAI PSC 6.000000% MATURITY: PERPETUAL              | CUSIP: M2520KAE8<br>LEI: 2138002DQL2YD4S8HE87 | Long             | DBT              | NUSS              | AE        |    460000 | PA      | $440118.80    | 0.14%             | 2171-04-21      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SABIC Capital II B.V.                                                                                 | SABIC CAPITAL II BV 4.000000% 10/10/2023                                | CUSIP: N/A<br>LEI: 2138005PCUTH59D4RJ83       | Long             | DBT              | NUSS              | SA        |    700000 | PA      | $692860.00    | 0.23%             | 2023-10-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Perusahaan Penerbit Surat Berharga Syariah Negara Indonesia III                                       | PERUSAHAAN PENERBIT SBSN INDONESIA III 4.325000% 05/28/2025             | CUSIP: 71567RAD8<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |    250000 | PA      | $250625.00    | 0.08%             | 2025-05-28      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| UZAUTO MOTORS Joint Stock Company                                                                     | UZAUTO MOTORS AJ 144A 4.850000% 05/04/2026                              | CUSIP: 46653NAA0<br>LEI: 25490082QA3E2MKBZI88 | Long             | DBT              | NUSS              | UZ        |    600000 | PA      | $494232.00    | 0.16%             | 2026-05-04      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                                                   | XAE ENERGY        MAR23 PHYSICAL INDEX FUTURE.                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        14 | NC      | $1288560.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA.                                                                              | ENFRAGEN ENERGIA SUR SA / ENFRAGEN SPAIN SA / PRIM 5.375000% 12/30/2030 | CUSIP: 29280LAA1<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | NUSS              | CO        |   1400000 | PA      | $980000.00    | 0.32%             | 2030-12-30      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| KWG GROUP HOLDINGS LIMITED                                                                            | KWG GROUP HOLDINGS LTD 7.875000% 08/30/2024                             | CUSIP: N/A<br>LEI: 549300LK82ZOM9ZE7H90       | Long             | DBT              | NUSS              | CN        |    841000 | PA      | $395270.00    | 0.13%             | 2024-08-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI ANONIM SIRKETI                                                                  | YAPI VE KREDI BANKASI AS MTN 5.850000% 06/21/2024                       | CUSIP: N/A<br>LEI: B85ZYWEZ5IZCZ2WNIO12       | Long             | DBT              | NUSS              | TR        |    681000 | PA      | $667938.42    | 0.22%             | 2024-06-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ITAU UNIBANCO HOLDING S.A.                                                                            | ITAU UNIBANCO HOLDING SA/CAYMAN ISLAND 3.250000% 01/24/2025             | CUSIP: 46556KAB2<br>LEI: N/A                  | Long             | DBT              | NUSS              | BR        |   1158000 | PA      | $1119079.62   | 0.36%             | 2025-01-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Korea Hydro & Nuclear Power Co., Ltd.                                                                 | KOREA HYDRO & NUCLEAR POWER CO LTD MTN 1.250000% 04/27/2026             | CUSIP: Y4899GEG4<br>LEI: 9884008CRY5MLCN8OQ43 | Long             | DBT              | NUSS              | KR        |    997000 | PA      | $878587.56    | 0.29%             | 2026-04-27      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| TURKIYE VAKIFLAR BANKASI TURK ANONIM ORTAKLIGI                                                        | TURKIYE VAKIFLAR BANKASI TAO 6.500000% 01/08/2026                       | CUSIP: N/A<br>LEI: 789000KAIHOLSQKQ9858       | Long             | DBT              | NUSS              | TR        |    309000 | PA      | $291115.08    | 0.09%             | 2026-01-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JAPANESE YEN                                                                                          | FX Forward Contract: JPY/USD SETTLE 2023-01-27                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | JP        |         1 | NC      | $31816.72     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Far East Horizon Limited                                                                              | FAR EAST HORIZON LTD MTN 2.625000% 03/03/2024                           | CUSIP: N/A<br>LEI: 549300S9XRGO1ZPUHE62       | Long             | DBT              | NUSS              | CN        |    200000 | PA      | $181497.70    | 0.06%             | 2024-03-03      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| SNB FUNDING LIMITED                                                                                   | SNB FUNDING LTD 2.750000% 10/02/2024                                    | CUSIP: N/A<br>LEI: 549300PT73WJRNMAKE44       | Long             | DBT              | NUSS              | SA        |   1774000 | PA      | $1693999.70   | 0.55%             | 2024-10-02      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Banco de Bogota S.A.                                                                                  | BANCO DE BOGOTA SA 6.250000% 05/12/2026                                 | CUSIP: P09252AK6<br>LEI: 549300LYHE7LWSKDZT53 | Long             | DBT              | NUSS              | CO        |    417000 | PA      | $408660.00    | 0.13%             | 2026-05-12      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CEMEX, S.A.B. de C.V.                                                                                 | CEMEX SAB DE CV 144A 7.375000% 06/05/2027                               | CUSIP: 151290BW2<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | NUSS              | MX        |    700000 | PA      | $718375.00    | 0.23%             | 2027-06-05      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| STILLWATER MINING COMPANY                                                                             | STILLWATER MINING CO 144A 4.000000% 11/16/2026                          | CUSIP: 86074QAP7<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | ZA        |   1000000 | PA      | $877500.00    | 0.29%             | 2026-11-16      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Democratic Socialist Republic of Sri Lanka                                                            | REPUBLIC OF SRI LANKA 7.550000% 03/28/2030                              | CUSIP: Y8137FAR9<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |   1081000 | PA      | $334115.24    | 0.11%             | 2030-03-28      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| DELHI INTERNATIONAL AIRPORT LIMITED                                                                   | DELHI INTERNATIONAL AIRPORT LTD 6.125000% 10/31/2026                    | CUSIP: Y2R27RAB5<br>LEI: 335800HBF5DARYMEUD12 | Long             | DBT              | NUSS              | IN        |    319000 | PA      | $306218.95    | 0.10%             | 2026-10-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Banco de Credito del Peru                                                                             | BANCO DE CREDITO DEL PERU S.A. MTN 3.250000% 09/30/2031                 | CUSIP: 05971V2D6<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | NUSS              | PE        |    690000 | PA      | $606650.73    | 0.20%             | 2031-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORPORATION                                                                              | TSMC ARIZONA CORP 3.875000% 04/22/2027                                  | CUSIP: 872898AF8<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | TW        |   1000000 | PA      | $962672.71    | 0.31%             | 2027-04-22      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Kuwait Projects Company S.P.C Limited                                                                 | KUWAIT PROJECTS CO SPC LTD MTN 4.500000% 02/23/2027                     | CUSIP: N/A<br>LEI: 254900BQTJEWBK1TAN59       | Long             | DBT              | NUSS              | KW        |    868000 | PA      | $725943.12    | 0.24%             | 2027-02-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SK BATTERY AMERICA, INC.                                                                              | SK BATTERY AMERICA INC 2.125000% 01/26/2026                             | CUSIP: N/A<br>LEI: 54930012FBFVNU7RWO57       | Long             | DBT              | NUSS              | KR        |   1295000 | PA      | $1112893.94   | 0.36%             | 2026-01-26      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| RAKFUNDING CAYMAN LTD                                                                                 | RAKFUNDING CAYMAN LTD MTN 4.125000% 04/09/2024                          | CUSIP: N/A<br>LEI: 254900VKV21C7FBKPR59       | Long             | DBT              | NUSS              | AE        |    400000 | PA      | $392520.00    | 0.13%             | 2024-04-09      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WILLIAMS-SONOMA, INC.                                                                                 | WSM US 02/17/23 P100 LONG                                               | CUSIP: 9K0992W26<br>LEI: 549300IARG6YWVTZ1I92 | N/A              | DE               |  | US        |        17 | NC      | $4335.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Empresa Nacional del Petroleo                                                                         | EMPRESA NACIONAL DEL PETROLEO 3.750000% 08/05/2026                      | CUSIP: P37110AK2<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | NUSS              | CL        |    940000 | PA      | $880815.04    | 0.29%             | 2026-08-05      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HOLDINGS COMPANY LIMITED                                                               | COUNTRY GARDEN HOLDINGS CO LTD 5.125000% 01/17/2025                     | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | NUSS              | CN        |    634000 | PA      | $424666.11    | 0.14%             | 2025-01-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| STATE BANK OF INDIA                                                                                   | STATE BANK OF INDIA/LONDON MTN 1.800000% 07/13/2026                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | IN        |    620000 | PA      | $547764.06    | 0.18%             | 2026-07-13      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| NBK SPC LIMITED                                                                                       | NBK SPC LTD 144A 1.625000% 09/15/2027                                   | CUSIP: 62877PAB0<br>LEI: 549300P1ANDK86KWB419 | Long             | DBT              | NUSS              | KW        |   1500000 | PA      | $1317000.00   | 0.43%             | 2027-09-15      | Fixed         | 1.62%                 | Yes           |                  2 | On Loan: No      |
| Republic of Lebanon                                                                                   | LEBANON GOVERNMENT INTERNATIONAL BOND MTN 6.100000% 10/04/2022          | CUSIP: N/A<br>LEI: 529900QPC4K9S1KHL354       | Long             | DBT              | NUSS              | LB        |   1260000 | PA      | $72172.80     | 0.02%             | 2022-10-04      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| PT Bank Mandiri (Persero) Tbk                                                                         | BANK MANDIRI PERSERO TBK PT MTN 3.750000% 04/11/2024                    | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | DBT              | NUSS              | ID        |    362000 | PA      | $353938.26    | 0.12%             | 2024-04-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                                                                                          | ENERGEAN PLC 144A 6.500000% 04/30/2027                                  | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | NUSS              | EG        |    600000 | PA      | $553888.80    | 0.18%             | 2027-04-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED                                                       | SIAM COMMERCIAL BANK PCL/CAYMAN ISLANDS MTN 4.400000% 02/11/2029        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | NUSS              | TH        |    328000 | PA      | $313063.11    | 0.10%             | 2029-02-11      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| HKT CAPITAL NO. 4 LIMITED                                                                             | HKT CAPITAL NO 4 LTD 3.000000% 07/14/2026                               | CUSIP: N/A<br>LEI: 254900MLP05EG5KFTB45       | Long             | DBT              | NUSS              | HK        |    200000 | PA      | $184161.03    | 0.06%             | 2026-07-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LIMITED                                                                               | SHRIRAM FINANCE LTD MTN 4.400000% 03/13/2024                            | CUSIP: Y7758EEG2<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | NUSS              | IN        |   1787000 | PA      | $1719308.44   | 0.56%             | 2024-03-13      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/EGP SETTLE 2023-01-18                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $211346.90    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTH AFRICAN RAND                                                                                    | FX Forward Contract: ZAR/USD SETTLE 2023-01-05                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | ZA        |         1 | NC      | $196536.77    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BTG PACTUAL S.A.                                                                                | BANCO BTG PACTUAL SA/CAYMAN ISLANDS 2.750000% 01/11/2026                | CUSIP: 05971BAG4<br>LEI: 2549002JHJ73KGETOK78 | Long             | DBT              | NUSS              | BR        |    622000 | PA      | $565242.50    | 0.18%             | 2026-01-11      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BHARTI AIRTEL LIMITED                                                                                 | BHARTI AIRTEL LTD 4.375000% 06/10/2025                                  | CUSIP: Y0889VAA8<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | DBT              | NUSS              | IN        |    747000 | PA      | $726274.53    | 0.24%             | 2025-06-10      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CNPC Global Capital Limited                                                                           | CNPC GLOBAL CAPITAL LTD 1.350000% 06/23/2025                            | CUSIP: N/A<br>LEI: 254900BS1UPERUNF4860       | Long             | DBT              | NUSS              | CN        |    700000 | PA      | $640699.35    | 0.21%             | 2025-06-23      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects (Mauritius) Ltd                                                                 | GREENKO WIND PROJECTS MAURITIUS LTD 144A 5.500000% 04/06/2025           | CUSIP: 39531JAA2<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | NUSS              | IN        |   1000000 | PA      | $933902.36    | 0.30%             | 2025-04-06      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN COPPER CORPORATION                                                                           | SOUTHERN COPPER CORP 3.875000% 04/23/2025                               | CUSIP: 84265VAH8<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | MX        |    816000 | PA      | $787392.00    | 0.26%             | 2025-04-23      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BDO UNIBANK, INC.                                                                                     | BDO UNIBANK INC MTN 2.125000% 01/13/2026                                | CUSIP: N/A<br>LEI: 3FGIIBS1PEI1FYQBGN97       | Long             | DBT              | NUSS              | PH        |    310000 | PA      | $280728.19    | 0.09%             | 2026-01-13      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| CNAC (HK) FINBRIDGE COMPANY LIMITED                                                                   | CNAC HK FINBRIDGE CO LTD 3.375000% 06/19/2024                           | CUSIP: N/A<br>LEI: 549300US1UQ7R7WABI28       | Long             | DBT              | NUSS              | CN        |   1000000 | PA      | $970100.00    | 0.32%             | 2024-06-19      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Joint Stock Company National Company KazMunayGas                                                      | KAZMUNAYGAS NATIONAL CO JSC 144A 4.750000% 04/19/2027                   | CUSIP: 48667QAN5<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | NUSS              | KZ        |    316000 | PA      | $291036.00    | 0.09%             | 2027-04-19      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| OQ SAOC                                                                                               | OQ SAOC MTN 5.125000% 05/06/2028                                        | CUSIP: 67624L2A5<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | NUSS              | OM        |    400000 | PA      | $378460.80    | 0.12%             | 2028-05-06      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| THE BIDVEST GROUP (UK) PLC                                                                            | BIDVEST GROUP UK PLC/THE 3.625000% 09/23/2026                           | CUSIP: N/A<br>LEI: 984500A80C777F496830       | Long             | DBT              | NUSS              | ZA        |    316000 | PA      | $283610.00    | 0.09%             | 2026-09-23      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| The Central America Bottling Corporation                                                              | CENTRAL AMERICAN BOTTLING CORP / CBC BOTTLING HOLD 5.250000% 04/27/2029 | CUSIP: G20038AA6<br>LEI: 549300DT8SH0CF6BTT37 | Long             | DBT              | NUSS              | GT        |   1029000 | PA      | $959254.38    | 0.31%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MALAYSIAN RINGGIT                                                                                     | FX Forward Contract: CNY/USD SETTLE 2023-01-20                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | CN        |         1 | NC      | $19683.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DP WORLD SALAAM                                                                                       | DP WORLD SALAAM 6.000000% MATURITY: PERPETUAL                           | CUSIP: N/A<br>LEI: 549300SUYBT9X88E9435       | Long             | DBT              | NUSS              | AE        |   1422000 | PA      | $1405718.10   | 0.46%             | 2172-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bangkok Bank Public Co Ltd (Hong Kong Branch)                                                         | BANGKOK BANK PCL/HONG KONG MTN 4.050000% 03/19/2024                     | CUSIP: Y0606WBY5<br>LEI: N/A                  | Long             | DBT              | NUSS              | TH        |    110000 | PA      | $108396.46    | 0.04%             | 2024-03-19      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LIMITED                                                                         | SHIMAO GROUP HOLDINGS LTD 5.600000% 07/15/2026                          | CUSIP: N/A<br>LEI: 254900WTJ6B5CU69ZD26       | Long             | DBT              | NUSS              | CN        |    309000 | PA      | $56387.16     | 0.02%             | 2026-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Celulosa Arauco y Constitucion S.A.                                                                   | CELULOSA ARAUCO Y CONSTITUCION SA 4.500000% 08/01/2024                  | CUSIP: 151191AZ6<br>LEI: 549300QEKV8G0AMNQD28 | Long             | DBT              | NUSS              | CL        |    826000 | PA      | $813248.25    | 0.26%             | 2024-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | J.P. MORGAN COLLATERAL                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    119995 | PA      | $119994.64    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LIMITED                                                                             | DP WORLD CRESCENT LTD MTN 3.875000% 07/18/2029                          | CUSIP: N/A<br>LEI: 21380096JRTWB8TL9236       | Long             | DBT              | NUSS              | AE        |    342000 | PA      | $319295.30    | 0.10%             | 2029-07-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HOLDINGS COMPANY LIMITED                                                               | COUNTRY GARDEN HOLDINGS CO LTD 5.125000% 01/14/2027                     | CUSIP: N/A<br>LEI: 549300MGHLPT1EFHGF84       | Long             | DBT              | NUSS              | CN        |    311000 | PA      | $177898.88    | 0.06%             | 2027-01-14      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GEELY AUTOMOBILE HOLDINGS LIMITED                                                                     | GEELY AUTOMOBILE HOLDINGS LTD 4.000000% MATURITY: PERPETUAL             | CUSIP: N/A<br>LEI: 549300YS3T1KVQ2SNI84       | Long             | DBT              | NUSS              | CN        |    328000 | PA      | $297014.39    | 0.10%             | 2171-06-09      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Islamic Republic of Pakistan                                                                          | PAKISTAN GOVERNMENT INTERNATIONAL BOND MTN 6.000000% 04/08/2026         | CUSIP: 695847AS2<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    350000 | PA      | $138250.00    | 0.05%             | 2026-04-08      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ALMARAI SUKUK LTD.                                                                                    | ALMARAI SUKUK LTD 4.311000% 03/05/2024                                  | CUSIP: N/A<br>LEI: 549300R2WJK99D0C8819       | Long             | DBT              | NUSS              | SA        |    213000 | PA      | $209883.38    | 0.07%             | 2024-03-05      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                                                                              | REPUBLIC OF SOUTH AFRICA 5.875000% 09/16/2025                           | CUSIP: 836205AR5<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    750000 | PA      | $751080.00    | 0.24%             | 2025-09-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Volcan Compania Minera S.A.A.                                                                         | VOLCAN CIA MINERA SAA 144A 4.375000% 02/11/2026                         | CUSIP: 92863UAB2<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | NUSS              | PE        |    200000 | PA      | $172491.75    | 0.06%             | 2026-02-11      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Joint Stock Company National Company KazMunayGas                                                      | KAZMUNAYGAS NATIONAL CO JSC 4.750000% 04/24/2025                        | CUSIP: N/A<br>LEI: 2138001H1M69RFJCSH88       | Long             | DBT              | NUSS              | KZ        |    631000 | PA      | $610493.94    | 0.20%             | 2025-04-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                                                      | SANDS CHINA LTD 3.750000% 08/08/2031                                    | CUSIP: G7801RAH2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | NUSS              | MO        |   1641000 | PA      | $1291296.48   | 0.42%             | 2031-08-08      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FORMOSA GROUP (CAYMAN) LIMITED                                                                        | FORMOSA GROUP CAYMAN LTD 3.375000% 04/22/2025                           | CUSIP: N/A<br>LEI: 254900F1H4XQO1YQV116       | Long             | DBT              | NUSS              | TW        |    316000 | PA      | $300091.43    | 0.10%             | 2025-04-22      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AGILE GROUP HOLDINGS LIMITED                                                                          | AGILE GROUP HOLDINGS LTD 8.375000% MATURITY: PERPETUAL                  | CUSIP: N/A<br>LEI: 549300ZRISRT38EEYY07       | Long             | DBT              | NUSS              | CN        |   1860000 | PA      | $456232.29    | 0.15%             | 2171-12-04      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | SPX US 02/17/23 P3500 LONG                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        14 | NC      | $33558.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MAR SUKUK LIMITED                                                                                     | MAR SUKUK LTD 3.025000% 11/13/2024                                      | CUSIP: N/A<br>LEI: 5493000TGLZ3JMN09026       | Long             | DBT              | NUSS              | QA        |    289000 | PA      | $277440.00    | 0.09%             | 2024-11-13      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| EURO                                                                                                  | FX Forward Contract: EUR/USD SETTLE 2023-01-20                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | XX        |         1 | NC      | $25865.72     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KoreaGasCorporation                                                                                   | KOREA GAS CORP 144A 3.875000% 07/13/2027                                | CUSIP: 50066AAT0<br>LEI: 988400TFZILHBD5M3R71 | Long             | DBT              | NUSS              | KR        |   1500000 | PA      | $1419615.00   | 0.46%             | 2027-07-13      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Compania de Minas Buenaventura S.A.A.                                                                 | CIA DE MINAS BUENAVENTURA SAA 5.500000% 07/23/2026                      | CUSIP: P6680PAA9<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | NUSS              | PE        |    317000 | PA      | $275068.83    | 0.09%             | 2026-07-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Greenko Solar (Mauritius) Limited                                                                     | GREENKO SOLAR MAURITIUS LTD 5.950000% 07/29/2026                        | CUSIP: V3855GAB6<br>LEI: 2138007S1PL541B3KP92 | Long             | DBT              | NUSS              | IN        |    338000 | PA      | $307073.00    | 0.10%             | 2026-07-29      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AKCB FINANCE LIMITED                                                                                  | AKCB FINANCE LTD 4.750000% 10/09/2023                                   | CUSIP: N/A<br>LEI: 549300ACYDRN77DHCX17       | Long             | DBT              | NUSS              | QA        |   1061000 | PA      | $1050687.08   | 0.34%             | 2023-10-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Compass Inc                                                                                           | COMP US 01/20/23 P2.5 LONG                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       500 | NC      | $10000.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. DOLLARS                                                                                          | FX Forward Contract: USD/BRL SETTLE 2023-01-04                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-815.67      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AES Andes S.A.                                                                                        | AES ANDES SA 7.125000% 03/26/2079                                       | CUSIP: P0607LAC7<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | NUSS              | CL        |    634000 | PA      | $599922.50    | 0.20%             | 2079-03-26      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Banco Santander (Mexico) S.A., Institucion de Banca Multiple, Grupo Financiero Santander Mexico       | BANCO SANTANDER MEXICO SA INSTITUCION DE BANCA MUL 5.375000% 04/17/2025 | CUSIP: 05969BAD5<br>LEI: SCRYQ25DTVRHYYMM6P89 | Long             | DBT              | NUSS              | MX        |    350000 | PA      | $346325.00    | 0.11%             | 2025-04-17      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| QNB FINANCE LTD                                                                                       | QNB FINANCE LTD MTN 3.500000% 03/28/2024                                | CUSIP: N/A<br>LEI: 549300MY0DXTHQEX5O57       | Long             | DBT              | NUSS              | QA        |   1217000 | PA      | $1189831.69   | 0.39%             | 2024-03-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| XP Inc.                                                                                               | XP INC 144A 3.250000% 07/01/2026                                        | CUSIP: 98379XAA2<br>LEI: 5493008KDA8NBZRJST80 | Long             | DBT              | NUSS              | BR        |   1700000 | PA      | $1527875.00   | 0.50%             | 2026-07-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| JSW STEEL LIMITED                                                                                     | JSW STEEL LTD 5.950000% 04/18/2024                                      | CUSIP: N/A<br>LEI: 335800EK6HZSC4CVAJ09       | Long             | DBT              | NUSS              | IN        |    554000 | PA      | $548460.00    | 0.18%             | 2024-04-18      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Sigma Alimentos, S.A. de C.V.                                                                         | SIGMA ALIMENTOS SA DE CV 4.125000% 05/02/2026                           | CUSIP: P8674JAE9<br>LEI: 549300FW3RGHPHT21D10 | Long             | DBT              | NUSS              | MX        |    767000 | PA      | $726735.97    | 0.24%             | 2026-05-02      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Perusahaan Penerbit Surat Berharga Syariah Negara Indonesia III                                       | PERUSAHAAN PENERBIT SBSN INDONESIA III 4.150000% 03/29/2027             | CUSIP: 71567RAH9<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |    647000 | PA      | $634060.00    | 0.21%             | 2027-03-29      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SA GLOBAL SUKUK LIMITED                                                                               | SA GLOBAL SUKUK LTD 144A 0.946000% 06/17/2024                           | CUSIP: 78397PAA9<br>LEI: 5493007DFAVKU7UOGR47 | Long             | DBT              | NUSS              | SA        |    300000 | PA      | $281880.00    | 0.09%             | 2024-06-17      | Fixed         | 0.95%                 | Yes           |                  2 | On Loan: No      |
| ACCESS BANK PLC                                                                                       | ACCESS BANK PLC MTN 6.125000% 09/21/2026                                | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | NUSS              | NG        |    300000 | PA      | $230130.00    | 0.07%             | 2026-09-21      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Huarong Finance II Co., Ltd.                                                                          | HUARONG FINANCE II CO LTD MTN 5.500000% 01/16/2025                      | CUSIP: N/A<br>LEI: 549300BHVD63HE2GHX17       | Long             | DBT              | NUSS              | CN        |   3183000 | PA      | $3008143.01   | 0.98%             | 2025-01-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | SPX US 02/17/23 P3250 LONG                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         8 | NC      | $6000.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                                                                                   | PETROLEOS MEXICANOS 3.500000% 01/30/2023                                | CUSIP: 71654QBG6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |   1184000 | PA      | $1178080.00   | 0.38%             | 2023-01-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LIMITED                                                                           | RELIANCE INDUSTRIES LTD 4.125000% 01/28/2025                            | CUSIP: Y72596BU5<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | NUSS              | IN        |   1680000 | PA      | $1631617.38   | 0.53%             | 2025-01-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ADANI GREEN ENERGY LIMITED                                                                            | ADANI GREEN ENERGY LTD 144A 4.375000% 09/08/2024                        | CUSIP: 00653XAA5<br>LEI: 335800ZBBU81OH211H17 | Long             | DBT              | NUSS              | IN        |    800000 | PA      | $724000.00    | 0.24%             | 2024-09-08      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Braskem Netherlands Finance B.V.                                                                      | BRASKEM NETHERLANDS FINANCE BV 8.500000% 01/23/2081                     | CUSIP: N15516AF9<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | NUSS              | BR        |    660000 | PA      | $636960.85    | 0.21%             | 2081-01-23      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | SPX US 03/17/23 P3650 LONG                                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         6 | NC      | $47580.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BRK: JPMORGAN CHASE BANK, N.A.                                                                        | BRK: JPMORGAN CHASE BANK, N.A. REC: SOFR COMPOUND                       | CUSIP: SLRVJ5D69<br>LEI: N/A                  | N/A              | DIR              |  | XX        |   3346500 | NC      | $363057.38    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| NAVER Corporation                                                                                     | NAVER CORP 1.500000% 03/29/2026                                         | CUSIP: N/A<br>LEI: 988400ULUQYDB2HQYJ61       | Long             | DBT              | NUSS              | KR        |    310000 | PA      | $274052.40    | 0.09%             | 2026-03-29      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Korea Mine Rehabilitation and Mineral Resources Corp.                                                 | KOREA MINE REHABILITATION & MINERAL RESOURCES CORP 1.750000% 04/15/2026 | CUSIP: N/A<br>LEI: 988400H3GWWTNW7D1G09       | Long             | DBT              | NUSS              | KR        |   1000000 | PA      | $884480.00    | 0.29%             | 2026-04-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| OMGRID FUNDING LIMITED                                                                                | OMGRID FUNDING LTD 5.196000% 05/16/2027                                 | CUSIP: N/A<br>LEI: 549300L1HIVZ83RMAP18       | Long             | DBT              | NUSS              | OM        |   1546000 | PA      | $1480604.20   | 0.48%             | 2027-05-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD.                                                                                    | KOSMOS ENERGY LTD 144A 7.750000% 05/01/2027                             | CUSIP: 500688AF3<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | GH        |    200000 | PA      | $166761.08    | 0.05%             | 2027-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD.                                                                                    | KOSMOS ENERGY LTD 144A 7.500000% 03/01/2028                             | CUSIP: 500688AD8<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | GH        |   1300000 | PA      | $1042380.08   | 0.34%             | 2028-03-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ANB SUKUK LTD.                                                                                        | ARAB NATIONAL BANK 3.326000% 10/28/2030                                 | CUSIP: G03659AA0<br>LEI: 549300688XPYTZKYN814 | Long             | DBT              | NUSS              | SA        |    316000 | PA      | $296692.40    | 0.10%             | 2030-10-28      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| EMAAR SUKUK LIMITED                                                                                   | EMAAR SUKUK LTD MTN 3.635000% 09/15/2026                                | CUSIP: N/A<br>LEI: 549300NZHOOO6634T541       | Long             | DBT              | NUSS              | AE        |    637000 | PA      | $605946.25    | 0.20%             | 2026-09-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| PT Pertamina (Persero)                                                                                | PERTAMINA PERSERO PT 1.400000% 02/09/2026                               | CUSIP: 69370RAK3<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | NUSS              | ID        |   1285000 | PA      | $1145091.56   | 0.37%             | 2026-02-09      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| BOC AVIATION LIMITED                                                                                  | BOC AVIATION LTD MTN VARIABLE RATE 09/26/2023                           | CUSIP: 09681MAH1<br>LEI: 254900H06V5RMEB3KE72 | Long             | DBT              | NUSS              | SG        |    110000 | PA      | $109787.28    | 0.04%             | 2023-09-26      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| QIB SUKUK LTD.                                                                                        | QIB SUKUK LTD 1.950000% 10/27/2025                                      | CUSIP: N/A<br>LEI: 549300XDP1VCBZLCP049       | Long             | DBT              | NUSS              | QA        |   1116000 | PA      | $1015560.00   | 0.33%             | 2025-10-27      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                                                               | SASOL FINANCING USA LLC 6.500000% 09/27/2028                            | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | ZA        |    628000 | PA      | $568963.93    | 0.19%             | 2028-09-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LIMITED                                                                          | SUNAC CHINA HOLDINGS LTD 7.950000% 10/11/2023                           | CUSIP: N/A<br>LEI: 549300OLARYHDXP3WK18       | Long             | DBT              | NUSS              | CN        |   1068000 | PA      | $229004.34    | 0.07%             | 2023-10-11      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| ADANI GREEN ENERGY (UP) LIMITED                                                                       | ADANI GREEN ENERGY UP LTD / PRAYATNA DEVELOPERS PV 6.250000% 12/10/2024 | CUSIP: N/A<br>LEI: 335800NT8W2YDE1C2270       | Long             | DBT              | NUSS              | IN        |    462000 | PA      | $449064.00    | 0.15%             | 2024-12-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRK: GOLDMAN SACHS BANK USA                                                                           | BRK: GOLDMAN SACHS BANK USA PAY: SOFRRATE                               | CUSIP: SLRVLA267<br>LEI: N/A                  | N/A              | DIR              |  | XX        |   4761000 | NC      | $-166026.73   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BRK: GOLDMAN SACHS BANK USA                                                                           | BRK: GOLDMAN SACHS BANK USA PAY: USD @ 2.92801%                         | CUSIP: SLLCLM0L8<br>LEI: N/A                  | N/A              | DIR              |  | XX        |   3588000 | NC      | $153640.68    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                                   | GOLDMAN SACHS COLLATERAL                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    198052 | PA      | $198052.14    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MISC Capital Two (Labuan) Limited                                                                     | MISC CAPITAL TWO LABUAN LTD MTN 3.625000% 04/06/2025                    | CUSIP: 60475DAA9<br>LEI: 9845000ED8376T875113 | Long             | DBT              | NUSS              | MY        |   1000000 | PA      | $951220.00    | 0.31%             | 2025-04-06      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| AUB Sukuk Limited                                                                                     | AUB SUKUK LTD MTN 2.615000% 09/09/2026                                  | CUSIP: G0623QAA0<br>LEI: 549300FXQ5JG3SV47Q86 | Long             | DBT              | NUSS              | BH        |    310000 | PA      | $278225.00    | 0.09%             | 2026-09-09      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| KOOKMIN BANK                                                                                          | KOOKMIN BANK 144A 1.750000% 05/04/2025                                  | CUSIP: 50050GAM0<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | NUSS              | KR        |   1500000 | PA      | $1386206.66   | 0.45%             | 2025-05-04      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                                                   | N/A                                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | XX        |  15799425 | NC      | $74972.60     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL S.A.                                                                                        | ECOPETROL SA 5.875000% 09/18/2023                                       | CUSIP: 279158AC3<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | NUSS              | CO        |    314000 | PA      | $311649.45    | 0.10%             | 2023-09-18      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL PLC                                                                            | ANGLO AMERICAN CAPITAL PLC 144A 3.625000% 09/11/2024                    | CUSIP: 034863AS9<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | NUSS              | ZA        |    690000 | PA      | $667879.68    | 0.22%             | 2024-09-11      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** THE ADVISORS' INNER CIRCLE III

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO