# EDGAR Filing Document

**Accession Number:** 0001394395
**File Stem:** 0001193125-23-009190
**Filing Date:** 2023-1
**Character Count:** 322794
**Document Hash:** e9af42ba58b295a7bcce656ea2d6e2f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-009190.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001193125-23-009190

**CONFORMED SUBMISSION TYPE**: N-CSR/A

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20221031

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**EFFECTIVENESS DATE**: 20230117

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Emerging Markets Local Income Portfolio
- **CENTRAL INDEX KEY:** 0001394395
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22048
- **FILM NUMBER:** 23530987

**BUSINESS ADDRESS:**
- **STREET 1:** TWO INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** TWO INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Emerging Markets Income Portfolio
- **DATE OF NAME CHANGE:** 20070326

## Series and Classes Contracts Data

### Emerging Markets Local Income Portfolio (Series ID: S000017994)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000049877 | Emerging Markets Local Income Portfolio |  |

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**Form N-CSR/A** 

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**CERTIFIED SHAREHOLDER REPORT OF REGISTERED** 

**MANAGEMENT INVESTMENT COMPANIES** 

**Investment Company Act File Number: 811-22048** 

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## Emerging Markets Local Income Portfolio
**(Exact Name of Registrant as Specified in Charter)** 

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**Two International Place, Boston, Massachusetts 02110** 

**(Address of Principal Executive Offices)** 

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**Deidre E. Walsh** 

**Two International Place, Boston, Massachusetts 02110** 

**(Name and Address of Agent for Services)** 

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**(617) 482-8260** 

**(Registrant's Telephone Number)** 

**October 31** 

**Date of Fiscal Year End** 

**October 31, 2022** 

**Date of Reporting Period** 

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Explanatory Note:

This Form N-CSR/A amends Form N-CSR of the registrant for the annual reporting period ended October 31, 2022, originally filed with the Securities and Exchange Commission on January 6, 2023 (Accession No. 0001193125-23-003203). The purpose of the amendment is to correct the audit opinion date appearing on the Report of Independent Registered Public Accounting Firm on page 58 of Emerging Markets Local Income Portfolio's annual report dated October 31, 2022, due to an inadvertent error in version control at the time of filing. Other than the aforementioned revision, this Form N-CSR/A does not reflect events occurring after the filing of the original Form N-CSR, or modify or update the disclosures therein in any way.

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**Item 1. Reports to Stockholders** 

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments

------

Foreign Corporate Bonds — 2.7%

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Brazil — 0.9% | Brazil — 0.9% | Brazil — 0.9% | Brazil — 0.9% |
| Simpar Finance S.a.r.l., 10.75%, 2/12/28<sup>(1)</sup> | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53195 | &nbsp;&nbsp;$8354153 |
|  |  |  | &nbsp;&nbsp;**$8354153** |
| Colombia — 0.3% | Colombia — 0.3% | Colombia — 0.3% | Colombia — 0.3% |
| Patrimonio Autonomo Union del Sur, 6.66%, 2/28/41<sup>(2)</sup> | COP | 18185000 | &nbsp;&nbsp;$2964095 |
|  |  |  | &nbsp;&nbsp;**$2964095** |
| Mexico — 0.0%<sup>(3)</sup> | Mexico — 0.0%<sup>(3)</sup> | Mexico — 0.0%<sup>(3)</sup> | Mexico — 0.0%<sup>(3)</sup> |
| Petroleos Mexicanos, 7.19%, 9/12/24<sup>(2)</sup> | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10630 | &nbsp;&nbsp;$488910 |
|  |  |  | &nbsp;&nbsp;**$488910** |
| Peru — 1.2% | Peru — 1.2% | Peru — 1.2% | Peru — 1.2% |
| Alicorp SAA, 6.875%, 4/17/27<sup>(1)</sup> | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25530 | &nbsp;&nbsp;$5961284 |
| Telefonica del Peru SAA, 7.375%, 4/10/27<sup>(2)</sup> | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;&nbsp; 5397216 |
|  |  |  | &nbsp;&nbsp;**$11358500** |
| Uzbekistan — 0.3% | Uzbekistan — 0.3% | Uzbekistan — 0.3% | Uzbekistan — 0.3% |
| Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), 15.00%, 12/8/22<sup>(1)</sup> | UZS | 34000000 | &nbsp;&nbsp;$3049577 |
|  |  |  | &nbsp;&nbsp;**$3049577** |
| Total Foreign Corporate Bonds<br> (identified cost $25,394,686) |  |  | &nbsp;&nbsp;**$26215235** |

---

Loan Participation Notes — 3.1%

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Uzbekistan — 3.1% | Uzbekistan — 3.1% | Uzbekistan — 3.1% | Uzbekistan — 3.1% |
| Daryo Finance BV (borrower - Uzbek Industrial and Construction Bank ATB), 18.75%, 6/15/23<sup>(1)(4)(5)</sup> | UZS | 159708000 | &nbsp;&nbsp;$14300922 |
| Europe Asia Investment Finance BV (borrower - Joint Stock Commercial Bank "Asaka"), 18.70%, 7/26/23<sup>(1)(4)(5)</sup> | UZS | 168539054 | &nbsp;&nbsp;&nbsp;&nbsp; 15079756 |
| Total Loan Participation Notes<br> (identified cost $32,881,388) |  |  | &nbsp;&nbsp;**$29380678** |

---

Sovereign Government Bonds — 61.3%

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Argentina — 0.1% | Argentina — 0.1% | Argentina — 0.1% | Argentina — 0.1% |
| Provincia de Cordoba, 6.875%, 12/10/25<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106 | &nbsp;&nbsp;$846272 |
|  |  |  | &nbsp;&nbsp;**$846272** |
| Armenia — 0.6% | Armenia — 0.6% | Armenia — 0.6% | Armenia — 0.6% |
| Republic of Armenia, 7.15%, 3/26/25<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5828 | &nbsp;&nbsp;$5728085 |
|  |  |  | &nbsp;&nbsp;**$5728085** |
| Azerbaijan — 0.3% | Azerbaijan — 0.3% | Azerbaijan — 0.3% | Azerbaijan — 0.3% |
| Republic of Azerbaijan, 4.75%, 3/18/24<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3142 | &nbsp;&nbsp;$3080178 |
|  |  |  | &nbsp;&nbsp;**$3080178** |
| Bahrain — 0.3% | Bahrain — 0.3% | Bahrain — 0.3% | Bahrain — 0.3% |
| CBB International Sukuk Programme Co. WLL, 6.25%, 11/14/24<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2624 | &nbsp;&nbsp;$2641116 |
|  |  |  | &nbsp;&nbsp;**$2641116** |
| Bolivia — 0.3% | Bolivia — 0.3% | Bolivia — 0.3% | Bolivia — 0.3% |
| Bolivian Government International Bond, 5.95%, 8/22/23<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2762 | &nbsp;&nbsp;$2644615 |
|  |  |  | &nbsp;&nbsp;**$2644615** |
| Bosnia and Herzegovina — 0.1% | Bosnia and Herzegovina — 0.1% | Bosnia and Herzegovina — 0.1% | Bosnia and Herzegovina — 0.1% |
| Republic of Srpska: |  |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, 6/30/23 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;$16315 |
| &nbsp;&nbsp;&nbsp;1.50%, 10/30/23 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp; 43986 |
| &nbsp;&nbsp;&nbsp;1.50%, 12/15/23 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 4793 |
| &nbsp;&nbsp;&nbsp;1.50%, 5/31/25 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669 | &nbsp;&nbsp;&nbsp;&nbsp; 781811 |
| &nbsp;&nbsp;&nbsp;1.50%, 6/9/25 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp; 77177 |
| &nbsp;&nbsp;&nbsp;1.50%, 12/24/25 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;&nbsp; 115843 |
| &nbsp;&nbsp;&nbsp;1.50%, 9/25/26 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp; 72273 |
| &nbsp;&nbsp;&nbsp;1.50%, 9/26/27 | BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp; 25425 |
|  |  |  | &nbsp;&nbsp;**$1137623** |
| Brazil — 0.4% | Brazil — 0.4% | Brazil — 0.4% | Brazil — 0.4% |
| Nota do Tesouro Nacional, 10.00%, 1/1/27 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22375 | &nbsp;&nbsp;$4114701 |
|  |  |  | &nbsp;&nbsp;**$4114701** |
| China — 2.0% | China — 2.0% | China — 2.0% | China — 2.0% |
| China Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;2.68%, 5/21/30 | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40600 | &nbsp;&nbsp;$5568123 |

---

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| China (continued) | China (continued) | China (continued) | China (continued) |
| China Government Bond: (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;3.53%, 10/18/51 | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93820 | &nbsp;&nbsp;$13847468 |
|  |  |  | &nbsp;&nbsp;**$19415591** |
| Colombia — 2.5% | Colombia — 2.5% | Colombia — 2.5% | Colombia — 2.5% |
| Republic of Colombia: |  |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 3/15/23 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;$3447066 |
| &nbsp;&nbsp;&nbsp;4.00%, 2/26/24 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429 | &nbsp;&nbsp;&nbsp;&nbsp; 3289748 |
| Titulos De Tesoreria B: |  |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, 11/3/27 | COP | 27398000 | &nbsp;&nbsp;&nbsp;&nbsp; 4027515 |
| &nbsp;&nbsp;&nbsp;6.00%, 4/28/28 | COP | 18865200 | &nbsp;&nbsp;&nbsp;&nbsp; 2744340 |
| &nbsp;&nbsp;&nbsp;7.00%, 3/26/31 | COP | 64677900 | &nbsp;&nbsp;&nbsp;&nbsp; 8790405 |
| &nbsp;&nbsp;&nbsp;7.00%, 6/30/32 | COP | &nbsp;&nbsp;&nbsp;&nbsp;5447000 | &nbsp;&nbsp;&nbsp;&nbsp; 712701 |
| &nbsp;&nbsp;&nbsp;10.00%, 7/24/24 | COP | &nbsp;&nbsp;&nbsp;&nbsp;3528300 | &nbsp;&nbsp;&nbsp;&nbsp; 687059 |
|  |  |  | &nbsp;&nbsp;**$23698834** |
| Costa Rica — 0.7% | Costa Rica — 0.7% | Costa Rica — 0.7% | Costa Rica — 0.7% |
| Costa Rica Government Bond, 9.66%, 9/30/26<sup>(1)</sup> | CRC | &nbsp;&nbsp;&nbsp;&nbsp;4136100 | &nbsp;&nbsp;$6752472 |
|  |  |  | &nbsp;&nbsp;**$6752472** |
| Czech Republic — 0.4% | Czech Republic — 0.4% | Czech Republic — 0.4% | Czech Republic — 0.4% |
| Czech Republic Government Bond, 0.95%, 5/15/30<sup>(1)</sup> | CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;$3987779 |
|  |  |  | &nbsp;&nbsp;**$3987779** |
| Dominican Republic — 5.1% | Dominican Republic — 5.1% | Dominican Republic — 5.1% | Dominican Republic — 5.1% |
| Dominican Republic: |  |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, 1/15/27<sup>(1)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111360 | &nbsp;&nbsp;$1746879 |
| &nbsp;&nbsp;&nbsp;8.00%, 2/12/27<sup>(1)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568540 | &nbsp;&nbsp;&nbsp;&nbsp; 8866241 |
| &nbsp;&nbsp;&nbsp;8.90%, 2/15/23<sup>(1)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145250 | &nbsp;&nbsp;&nbsp;&nbsp; 2675276 |
| &nbsp;&nbsp;&nbsp;12.00%, 8/8/25<sup>(2)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836870 | &nbsp;&nbsp;&nbsp;&nbsp; 14761457 |
| &nbsp;&nbsp;&nbsp;12.75%, 9/23/29<sup>(2)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587800 | &nbsp;&nbsp;&nbsp;&nbsp; 11092860 |
| &nbsp;&nbsp;&nbsp;13.00%, 6/10/34<sup>(1)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312000 | &nbsp;&nbsp;&nbsp;&nbsp; 5708155 |
| Dominican Republic Central Bank Notes: |  |  |  |
| &nbsp;&nbsp;&nbsp;8.00%, 3/12/27<sup>(1)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36140 | &nbsp;&nbsp;&nbsp;&nbsp; 538626 |
| &nbsp;&nbsp;&nbsp;12.00%, 10/3/25<sup>(2)</sup> | DOP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221270 | &nbsp;&nbsp;&nbsp;&nbsp; 3895602 |
|  |  |  | &nbsp;&nbsp;**$49285096** |
| Ecuador — 0.2% | Ecuador — 0.2% | Ecuador — 0.2% | Ecuador — 0.2% |
| Republic of Ecuador, 1.50% to 7/31/23, 7/31/40<sup>(1)(6)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6853 | &nbsp;&nbsp;$2288275 |
|  |  |  | &nbsp;&nbsp;**$2288275** |
| El Salvador — 0.5% | El Salvador — 0.5% | El Salvador — 0.5% | El Salvador — 0.5% |
| Republic of El Salvador, 7.75%, 1/24/23<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4660 | &nbsp;&nbsp;$4252080 |
|  |  |  | &nbsp;&nbsp;**$4252080** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Honduras — 0.2% | Honduras — 0.2% | Honduras — 0.2% | Honduras — 0.2% |
| Honduras Government International Bond, 7.50%, 3/15/24<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;$2218000 |
|  |  |  | &nbsp;&nbsp;**$2218000** |
| Hungary — 0.7% | Hungary — 0.7% | Hungary — 0.7% | Hungary — 0.7% |
| Hungary Government Bond, 3.25%, 10/22/31 | HUF | &nbsp;&nbsp;&nbsp;&nbsp;4850000 | &nbsp;&nbsp;$7114005 |
|  |  |  | &nbsp;&nbsp;**$7114005** |
| Indonesia — 6.1% | Indonesia — 6.1% | Indonesia — 6.1% | Indonesia — 6.1% |
| Indonesia Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;6.50%, 2/15/31 | IDR | 339135000 | &nbsp;&nbsp;$20334619 |
| &nbsp;&nbsp;&nbsp;7.50%, 5/15/38 | IDR | 267486000 | &nbsp;&nbsp;&nbsp;&nbsp; 17042961 |
| &nbsp;&nbsp;&nbsp;7.50%, 4/15/40 | IDR | 45427000 | &nbsp;&nbsp;&nbsp;&nbsp; 2872553 |
| &nbsp;&nbsp;&nbsp;8.25%, 5/15/36 | IDR | 242576000 | &nbsp;&nbsp;&nbsp;&nbsp; 16197032 |
| &nbsp;&nbsp;&nbsp;8.375%, 4/15/39 | IDR | 22764000 | &nbsp;&nbsp;&nbsp;&nbsp; 1544770 |
| &nbsp;&nbsp;&nbsp;9.50%, 5/15/41 | IDR | &nbsp;&nbsp;&nbsp;&nbsp;5702000 | &nbsp;&nbsp;&nbsp;&nbsp; 427465 |
|  |  |  | &nbsp;&nbsp;**$58419400** |
| Iraq — 0.2% | Iraq — 0.2% | Iraq — 0.2% | Iraq — 0.2% |
| Republic of Iraq, 6.752%, 3/9/23<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 | &nbsp;&nbsp;$1687582 |
|  |  |  | &nbsp;&nbsp;**$1687582** |
| Ivory Coast — 0.1% | Ivory Coast — 0.1% | Ivory Coast — 0.1% | Ivory Coast — 0.1% |
| Ivory Coast Government International Bond, 5.125%, 6/15/25<sup>(1)</sup> | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;$666926 |
|  |  |  | &nbsp;&nbsp;**$666926** |
| Jordan — 0.4% | Jordan — 0.4% | Jordan — 0.4% | Jordan — 0.4% |
| Kingdom of Jordan, 4.95%, 7/7/25<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4503 | &nbsp;&nbsp;$4217442 |
|  |  |  | &nbsp;&nbsp;**$4217442** |
| Macedonia — 0.6% | Macedonia — 0.6% | Macedonia — 0.6% | Macedonia — 0.6% |
| North Macedonia Government International Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, 1/18/25<sup>(1)</sup> | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;$823941 |
| &nbsp;&nbsp;&nbsp;5.625%, 7/26/23<sup>(1)</sup> | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5192 | &nbsp;&nbsp;&nbsp;&nbsp; 5122434 |
|  |  |  | &nbsp;&nbsp;**$5946375** |
| Malaysia — 1.2% | Malaysia — 1.2% | Malaysia — 1.2% | Malaysia — 1.2% |
| Malaysia Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;3.828%, 7/5/34 | MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28100 | &nbsp;&nbsp;$5496585 |
| &nbsp;&nbsp;&nbsp;4.254%, 5/31/35 | MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27750 | &nbsp;&nbsp;&nbsp;&nbsp; 5633437 |
|  |  |  | &nbsp;&nbsp;**$11130022** |

---

*20*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Mexico — 3.2% | Mexico — 3.2% | Mexico — 3.2% | Mexico — 3.2% |
| Mexican Bonos: |  |  |  |
| &nbsp;&nbsp;&nbsp;7.75%, 11/13/42 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;$9371617 |
| &nbsp;&nbsp;&nbsp;8.50%, 5/31/29 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp; 1844030 |
| &nbsp;&nbsp;&nbsp;8.50%, 11/18/38 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410469 | &nbsp;&nbsp;&nbsp;&nbsp; 18271349 |
| &nbsp;&nbsp;&nbsp;10.00%, 11/20/36 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22074 | &nbsp;&nbsp;&nbsp;&nbsp; 1120646 |
|  |  |  | &nbsp;&nbsp;**$30607642** |
| Oman — 0.3% | Oman — 0.3% | Oman — 0.3% | Oman — 0.3% |
| Oman Government International Bond, 4.875%, 2/1/25<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3173 | &nbsp;&nbsp;$3091454 |
|  |  |  | &nbsp;&nbsp;**$3091454** |
| Paraguay — 0.2% | Paraguay — 0.2% | Paraguay — 0.2% | Paraguay — 0.2% |
| Republic of Paraguay, 4.625%, 1/25/23<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330 | &nbsp;&nbsp;$2326528 |
|  |  |  | &nbsp;&nbsp;**$2326528** |
| Peru — 2.4% | Peru — 2.4% | Peru — 2.4% | Peru — 2.4% |
| Peru Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;5.94%, 2/12/29 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4380 | &nbsp;&nbsp;$987224 |
| &nbsp;&nbsp;&nbsp;6.15%, 8/12/32 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6602 | &nbsp;&nbsp;&nbsp;&nbsp; 1413466 |
| &nbsp;&nbsp;&nbsp;6.714%, 2/12/55 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 830512 |
| &nbsp;&nbsp;&nbsp;6.85%, 2/12/42 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19284 | &nbsp;&nbsp;&nbsp;&nbsp; 4093957 |
| &nbsp;&nbsp;&nbsp;6.90%, 8/12/37 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8763 | &nbsp;&nbsp;&nbsp;&nbsp; 1891033 |
| &nbsp;&nbsp;&nbsp;6.95%, 8/12/31 | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59887 | &nbsp;&nbsp;&nbsp;&nbsp; 13834224 |
|  |  |  | &nbsp;&nbsp;**$23050416** |
| Romania — 3.2% | Romania — 3.2% | Romania — 3.2% | Romania — 3.2% |
| Romania Government International Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, 2/26/26<sup>(1)</sup> | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755 | &nbsp;&nbsp;$2487020 |
| &nbsp;&nbsp;&nbsp;3.624%, 5/26/30<sup>(1)</sup> | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755 | &nbsp;&nbsp;&nbsp;&nbsp; 2144069 |
| Romanian Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, 6/24/26 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57650 | &nbsp;&nbsp;&nbsp;&nbsp; 9589911 |
| &nbsp;&nbsp;&nbsp;4.15%, 1/26/28 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48045 | &nbsp;&nbsp;&nbsp;&nbsp; 7722013 |
| &nbsp;&nbsp;&nbsp;4.85%, 4/22/26 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32030 | &nbsp;&nbsp;&nbsp;&nbsp; 5668019 |
| &nbsp;&nbsp;&nbsp;5.80%, 7/26/27 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16020 | &nbsp;&nbsp;&nbsp;&nbsp; 2824513 |
|  |  |  | &nbsp;&nbsp;**$30435545** |
| Serbia — 3.9% | Serbia — 3.9% | Serbia — 3.9% | Serbia — 3.9% |
| Serbia Treasury Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, 1/11/26 | RSD | &nbsp;&nbsp;&nbsp;&nbsp;1114580 | &nbsp;&nbsp;$8757149 |
| &nbsp;&nbsp;&nbsp;4.50%, 8/20/32 | RSD | &nbsp;&nbsp;&nbsp;&nbsp;3298130 | &nbsp;&nbsp;&nbsp;&nbsp; 21393150 |
| &nbsp;&nbsp;&nbsp;5.875%, 2/8/28 | RSD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970810 | &nbsp;&nbsp;&nbsp;&nbsp; 7626941 |
|  |  |  | &nbsp;&nbsp;**$37777240** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Seychelles — 0.1% | Seychelles — 0.1% | Seychelles — 0.1% | Seychelles — 0.1% |
| Republic of Seychelles, 8.00%, 1/1/26<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688 | &nbsp;&nbsp;$674683 |
|  |  |  | &nbsp;&nbsp;**$674683** |
| South Africa — 12.4% | South Africa — 12.4% | South Africa — 12.4% | South Africa — 12.4% |
| Republic of South Africa: |  |  |  |
| &nbsp;&nbsp;&nbsp;8.25%, 3/31/32 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147394 | &nbsp;&nbsp;$6613121 |
| &nbsp;&nbsp;&nbsp;8.50%, 1/31/37 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369200 | &nbsp;&nbsp;&nbsp;&nbsp; 15504566 |
| &nbsp;&nbsp;&nbsp;8.75%, 1/31/44 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408487 | &nbsp;&nbsp;&nbsp;&nbsp; 16882091 |
| &nbsp;&nbsp;&nbsp;8.75%, 2/28/48 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231000 | &nbsp;&nbsp;&nbsp;&nbsp; 9504090 |
| &nbsp;&nbsp;&nbsp;9.00%, 1/31/40 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334480 | &nbsp;&nbsp;&nbsp;&nbsp; 14345197 |
| &nbsp;&nbsp;&nbsp;10.50%, 12/21/26 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980230 | &nbsp;&nbsp;&nbsp;&nbsp; 56004172 |
|  |  |  | &nbsp;&nbsp;**$118853237** |
| Suriname — 0.5% | Suriname — 0.5% | Suriname — 0.5% | Suriname — 0.5% |
| Republic of Suriname, 9.25%, 10/26/26<sup>(1)(7)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5529 | &nbsp;&nbsp;$4439787 |
|  |  |  | &nbsp;&nbsp;**$4439787** |
| Thailand — 3.8% | Thailand — 3.8% | Thailand — 3.8% | Thailand — 3.8% |
| Thailand Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;1.585%, 12/17/35 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528144 | &nbsp;&nbsp;$10972076 |
| &nbsp;&nbsp;&nbsp;3.30%, 6/17/38 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594751 | &nbsp;&nbsp;&nbsp;&nbsp; 14658518 |
| &nbsp;&nbsp;&nbsp;3.40%, 6/17/36 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp; 5239907 |
| &nbsp;&nbsp;&nbsp;4.875%, 6/22/29 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183489 | &nbsp;&nbsp;&nbsp;&nbsp; 5363958 |
|  |  |  | &nbsp;&nbsp;**$36234459** |
| Ukraine — 4.1% | Ukraine — 4.1% | Ukraine — 4.1% | Ukraine — 4.1% |
| Ukraine Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;9.79%, 5/26/27<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914377 | &nbsp;&nbsp;$8188451 |
| &nbsp;&nbsp;&nbsp;9.99%, 5/22/24<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589859 | &nbsp;&nbsp;&nbsp;&nbsp; 6896361 |
| &nbsp;&nbsp;&nbsp;10.00%, 8/23/23<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38483 | &nbsp;&nbsp;&nbsp;&nbsp; 402061 |
| &nbsp;&nbsp;&nbsp;10.95%, 11/1/23<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12367 | &nbsp;&nbsp;&nbsp;&nbsp; 129208 |
| &nbsp;&nbsp;&nbsp;11.67%, 11/22/23<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118929 | &nbsp;&nbsp;&nbsp;&nbsp; 1242542 |
| &nbsp;&nbsp;&nbsp;12.52%, 5/13/26<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166150 | &nbsp;&nbsp;&nbsp;&nbsp; 1529241 |
| &nbsp;&nbsp;&nbsp;15.84%, 2/26/25<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;1853842 | &nbsp;&nbsp;&nbsp;&nbsp; 20751963 |
| &nbsp;&nbsp;&nbsp;15.97%, 4/19/23<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2910 | &nbsp;&nbsp;&nbsp;&nbsp; 30403 |
|  |  |  | &nbsp;&nbsp;**$39170230** |
| United Arab Emirates — 0.3% | United Arab Emirates — 0.3% | United Arab Emirates — 0.3% | United Arab Emirates — 0.3% |
| Sharjah Sukuk Ltd., 3.764%, 9/17/24<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2747 | &nbsp;&nbsp;$2629665 |
|  |  |  | &nbsp;&nbsp;**$2629665** |
| Uruguay — 1.8% | Uruguay — 1.8% | Uruguay — 1.8% | Uruguay — 1.8% |
| Uruguay Government Bond, 3.875%, 7/2/40<sup>(8)</sup> | UYU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678613 | &nbsp;&nbsp;$16847962 |

---

*21*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Uruguay (continued) | Uruguay (continued) | Uruguay (continued) | Uruguay (continued) |
| Uruguay Monetary Regulation Bill, 0.00%, 7/3/24 | UYU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38225 | &nbsp;&nbsp;$783044 |
|  |  |  | &nbsp;&nbsp;**$17631006** |
| Uzbekistan — 0.5% | Uzbekistan — 0.5% | Uzbekistan — 0.5% | Uzbekistan — 0.5% |
| Republic of Uzbekistan: |  |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, 2/20/24<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;$2960113 |
| &nbsp;&nbsp;&nbsp;14.00%, 7/19/24<sup>(1)</sup> | UZS | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 437758 |
| &nbsp;&nbsp;&nbsp;14.50%, 11/25/23<sup>(1)</sup> | UZS | 11470000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032022 |
|  |  |  | &nbsp;&nbsp;**$4429893** |
| Vietnam — 0.3% | Vietnam — 0.3% | Vietnam — 0.3% | Vietnam — 0.3% |
| Vietnam Government International Bond, 4.80%, 11/19/24<sup>(1)</sup> | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124 | &nbsp;&nbsp;$3022470 |
|  |  |  | &nbsp;&nbsp;**$3022470** |
| Zambia — 1.3% | Zambia — 1.3% | Zambia — 1.3% | Zambia — 1.3% |
| Zambia Government Bond: |  |  |  |
| &nbsp;&nbsp;&nbsp;11.00%, 1/25/26 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100560 | &nbsp;&nbsp;$4136824 |
| &nbsp;&nbsp;&nbsp;11.00%, 12/27/26 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73540 | &nbsp;&nbsp;&nbsp;&nbsp; 2733385 |
| &nbsp;&nbsp;&nbsp;12.00%, 3/22/28 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31390 | &nbsp;&nbsp;&nbsp;&nbsp; 1070406 |
| &nbsp;&nbsp;&nbsp;12.00%, 5/31/28 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp; 476572 |
| &nbsp;&nbsp;&nbsp;12.00%, 11/1/28 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21800 | &nbsp;&nbsp;&nbsp;&nbsp; 712711 |
| &nbsp;&nbsp;&nbsp;12.00%, 2/21/29 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47550 | &nbsp;&nbsp;&nbsp;&nbsp; 1517673 |
| &nbsp;&nbsp;&nbsp;13.00%, 12/27/31 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57140 | &nbsp;&nbsp;&nbsp;&nbsp; 1731079 |
| &nbsp;&nbsp;&nbsp;14.00%, 12/5/31 | ZMW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 154681 |
|  |  |  | &nbsp;&nbsp;**$12533331** |
| Total Sovereign Government Bonds<br> (identified cost $838,113,831) |  |  | &nbsp;&nbsp;**$588180055** |

---

Short-Term Investments — 16.1%

Affiliated Fund — 3.6%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 2.88%<sup>(9)</sup> | 34198985 | &nbsp;&nbsp;$34198985 |
| Total Affiliated Fund<br> (identified cost $34,198,985) |  | &nbsp;&nbsp;**$34198985** |

---

Sovereign Government Securities — 8.6%

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Israel — 4.8% | Israel — 4.8% | Israel — 4.8% | Israel — 4.8% |
| Bank of Israel Treasury Bill: |  |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 12/7/22 | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156100 | &nbsp;&nbsp;$44114689 |
| &nbsp;&nbsp;&nbsp;0.00%, 1/4/23 | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5359 | &nbsp;&nbsp;&nbsp;&nbsp; 1510546 |
|  |  |  | &nbsp;&nbsp;**$45625235** |
| Uganda — 1.9% | Uganda — 1.9% | Uganda — 1.9% | Uganda — 1.9% |
| Uganda Treasury Bill: |  |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 3/30/23 | UGX | 22640400 | &nbsp;&nbsp;$5683418 |
| &nbsp;&nbsp;&nbsp;0.00%, 4/13/23 | UGX | 16824100 | &nbsp;&nbsp;&nbsp;&nbsp; 4199437 |
| &nbsp;&nbsp;&nbsp;0.00%, 4/27/23 | UGX | &nbsp;&nbsp;&nbsp;&nbsp;1425700 | &nbsp;&nbsp;&nbsp;&nbsp; 353813 |
| &nbsp;&nbsp;&nbsp;0.00%, 5/25/23 | UGX | 31532000 | &nbsp;&nbsp;&nbsp;&nbsp; 7738089 |
|  |  |  | &nbsp;&nbsp;**$17974757** |
| Ukraine — 0.3% | Ukraine — 0.3% | Ukraine — 0.3% | Ukraine — 0.3% |
| Ukraine Treasury Bill, 0.00%, 3/1/23<sup>(4)</sup> | UAH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122375 | &nbsp;&nbsp;$2887584 |
|  |  |  | &nbsp;&nbsp;**$2887584** |
| Uruguay — 1.6% | Uruguay — 1.6% | Uruguay — 1.6% | Uruguay — 1.6% |
| Uruguay Monetary Regulation Bill: |  |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 11/11/22 | UYU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118450 | &nbsp;&nbsp;$2905215 |
| &nbsp;&nbsp;&nbsp;0.00%, 11/16/22 | UYU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31006 | &nbsp;&nbsp;&nbsp;&nbsp; 759278 |
| &nbsp;&nbsp;&nbsp;0.00%, 11/23/22 | UYU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236075 | &nbsp;&nbsp;&nbsp;&nbsp; 5768358 |
| &nbsp;&nbsp;&nbsp;0.00%, 1/11/23 | UYU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262600 | &nbsp;&nbsp;&nbsp;&nbsp; 6316621 |
|  |  |  | &nbsp;&nbsp;**$15749472** |
| Total Sovereign Government Securities<br> (identified cost $85,759,735) |  |  | &nbsp;&nbsp;**$82237048** |

---

U.S. Treasury Obligations — 3.9%

---

| | | |
|:---|:---|:---|
| **Security** | **Principal <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| U.S. Treasury Bill: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 11/8/22<sup>(10)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15950 | &nbsp;&nbsp;$15941739 |
| &nbsp;&nbsp;&nbsp;0.00%, 11/15/22<sup>(10)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21700 | &nbsp;&nbsp;&nbsp;&nbsp; 21674726 |
| Total U.S. Treasury Obligations<br> (identified cost $37,617,744) |  | &nbsp;&nbsp;**$37616465** |
| Total Short-Term Investments<br> (identified cost $157,576,464) |  | &nbsp;&nbsp;**$154052498** |

---

*22*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**Value** |
| Total Investments — 83.2%<br> (identified cost $1,053,966,369) | &nbsp;&nbsp;**$797828466** |
| Other Assets, Less Liabilities — 16.8% | &nbsp;&nbsp;**$160902065** |
| Net Assets — 100.0% | &nbsp;&nbsp;**$958730531** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>(1)</sup> | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At October 31, 2022, the aggregate value of these securities is $138,483,635 or 14.4% of the Portfolio's net assets. |
| <sup>(2)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At October 31, 2022, the aggregate value of these securities is $38,600,140 or 4.0% of the Portfolio's net assets. |
| <sup>(3)</sup> | Amount is less than 0.05%. |
| <sup>(4)</sup> | For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 8). |
| <sup>(5)</sup> | Limited recourse note whose payments by the issuer are limited to amounts received by the issuer from the borrower pursuant to a loan agreement with the borrower. |
| <sup>(6)</sup> | Step coupon security. Interest rate represents the rate in effect at October 31, 2022. |

---

<sup>(7)</sup> Issuer is in default with respect to interest and/or principal payments. For a variable rate security, interest rate has been adjusted to reflect non-accrual status.

<sup>(8)</sup> Inflation-linked security whose principal is adjusted for inflation based on changes in a designated inflation index or inflation rate for the applicable country. Interest is calculated based on the inflation-adjusted principal.

<sup>(9)</sup> May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of October 31, 2022.

<sup>(10)</sup> Security (or a portion thereof) has been pledged to cover collateral requirements on open derivative contracts.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 83521000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 15230497 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$938509 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 47329000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 8678806 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483715 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 53195000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 9914452 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383680 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 11137000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 2038325 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117710 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 7610000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 1396927 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76308 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 75357 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2079 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 18850 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 1363332 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8187) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 34074000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6683208 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (86750) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 110858000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 21562251 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101018) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2446226 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 12900000 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51112) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3405405 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 17900000 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (59894) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6490026 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 34554000 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (199356) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9950193 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 52850452 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (281237) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 14974129 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 80164000 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (544988) |

---

*23*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9700390 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 53195000 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(597742) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 19320190 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 103660548 | &nbsp;&nbsp;&nbsp;&nbsp;11/3/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (747673) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 66930800 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 12406080 | &nbsp;&nbsp;&nbsp;&nbsp;11/4/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548024 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 10328827 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 1909902 | &nbsp;&nbsp;&nbsp;&nbsp;11/4/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89188 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 14857621 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 77259627 | &nbsp;&nbsp;&nbsp;&nbsp;11/4/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95573) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 17235892 | &nbsp;&nbsp;&nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 296164336 | &nbsp;&nbsp;&nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1132749 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 782688 | &nbsp;&nbsp;&nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 13448922 | &nbsp;&nbsp;&nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51439 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 103660548 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 19198531 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745295 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 34554000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6449168 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198867 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 77259627 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 14765902 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98505 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 25600000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 4848898 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76427 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 25600000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 4867855 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57471 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 4940000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 937234 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13200 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 30106000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 5848778 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (56518) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9852021 | &nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp; 53195000 | &nbsp;&nbsp;&nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (382460) |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp; 7662300480 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 8162411 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (107615) |
| COP | &nbsp;&nbsp;&nbsp;&nbsp; 267305447 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 59827 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6162) |
| COP | &nbsp;&nbsp;&nbsp;&nbsp; 669840234 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 149919 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15443) |
| COP | &nbsp;&nbsp;&nbsp;&nbsp; 17745107000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3599413 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36912) |
| COP | &nbsp;&nbsp;&nbsp;&nbsp;155687623689 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 34733095 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3477302) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 10518605 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 10584023 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (146526) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 232869495 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 234317771 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3243905) |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 98100000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6250000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18033 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 85900000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 5473429 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15093 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 76890000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 4899100 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13734 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 74380000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 4740720 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11739 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 68460462674 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 4363744 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10491 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 46458231000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 2969810 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1393) |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 46678064232 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3118280 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (135817) |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp;102741465413 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6899345 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (334750) |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp;352113312995 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 23519378 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1021338) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 440000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 308462 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 2833400000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 2035503 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48566) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 4601400000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3305627 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78870) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 8555100000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6146040 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (146729) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 8897400000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6394475 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (155124) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp; 8555100000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 6161978 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162667) |
| PEN | &nbsp;&nbsp;&nbsp;&nbsp; 7203306 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 1794099 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3946 |
| PEN | &nbsp;&nbsp;&nbsp;&nbsp; 13554568 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3457445 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74037) |
| PEN | &nbsp;&nbsp;&nbsp;&nbsp; 63737218 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 16298161 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (388468) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 10203828 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 45737641000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1021556 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5125511 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 22974590000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513140 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4274784 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 19209683000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418255 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2458543 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 11020172000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246137 |

---

*24*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2433158 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 10933638859 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$238125 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2147278 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 9649265000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210095 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1222206 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 5492103191 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119613 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1029980 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 4628443000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100776 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 586253 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 2634385000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57374 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2296964 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 11347000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18944 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2286937 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 11346000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9119 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2284995 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 11345000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7377 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1920346 | &nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;&nbsp;&nbsp; 9547000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3694 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 47728127 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 47433128 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660750 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 35576732 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 35356839 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 492526 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 15093289 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208952 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 8282029 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 8230839 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114657 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6659334 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6618174 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92192 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5538197 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 5503967 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76671 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5185654 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 5153602 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71790 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1155484 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1148342 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15997 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 707750 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 703376 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9798 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 396156 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 398508 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 16406328 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;245622414013 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 712451 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3687617 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 55128400000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165226 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3402804 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 50944061062 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147768 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2730746 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 40692600000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130720 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1167254 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 17394000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55876 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 89144 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 1334599288 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3871 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 57714 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 859900000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2771 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 55727 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 830000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2695 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 56057 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 839900000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2392 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 14683 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 218800000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 14447030 | &nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp; 56498002 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344347 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6306008 | &nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp; 24778196 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121027 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5738661 | &nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp; 22534000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113862 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3359198 | &nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp; 13440151 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 28538 | &nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp; 114417 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3326274 | &nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp; 13350000 | &nbsp;&nbsp;&nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6071) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 113618000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 20780499 | &nbsp;&nbsp;&nbsp;&nbsp;1/4/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 926279 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 72310542 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 13235447 | &nbsp;&nbsp;&nbsp;&nbsp;1/4/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 579519 |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 50196000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3291239 | &nbsp;&nbsp;&nbsp;&nbsp;1/11/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87743) |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 53482000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3504718 | &nbsp;&nbsp;&nbsp;&nbsp;1/11/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (91511) |
| IDR | &nbsp;&nbsp;&nbsp;&nbsp; 60168000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 3946996 | &nbsp;&nbsp;&nbsp;&nbsp;1/11/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (107089) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 80164000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 14691200 | &nbsp;&nbsp;&nbsp;&nbsp;2/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529912 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp; 52850452 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 9761271 | &nbsp;&nbsp;&nbsp;&nbsp;2/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273690 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5258970 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 80173000000 | &nbsp;&nbsp;&nbsp;&nbsp;7/11/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190068 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3018893 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 46020000000 | &nbsp;&nbsp;&nbsp;&nbsp;7/11/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109299 |

---

*25*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2471594 | &nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp; 37653000000 | &nbsp;&nbsp;&nbsp;&nbsp;7/11/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91000 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1216318** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** | **Forward Foreign Currency Exchange Contracts (OTC)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;**Unrealized <br> Appreciation** | &nbsp;&nbsp;**Unrealized <br> (Depreciation)** |
| KZT | &nbsp;&nbsp; 253765227 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 525938 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;$17282 | &nbsp;&nbsp;$— |
| KZT | &nbsp;&nbsp; 253765226 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 525938 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp; 17282 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 54546232 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 113049 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp; 3715 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 54546232 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 113049 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp; 3715 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 116495 | &nbsp;&nbsp;KZT | &nbsp;&nbsp; 54546231 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (269) |
| USD | &nbsp;&nbsp; 116495 | &nbsp;&nbsp;KZT | &nbsp;&nbsp; 54546231 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (269) |
| USD | &nbsp;&nbsp; 541967 | &nbsp;&nbsp;KZT | &nbsp;&nbsp; 253765226 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1253) |
| USD | &nbsp;&nbsp; 541967 | &nbsp;&nbsp;KZT | &nbsp;&nbsp; 253765227 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1253) |
| USD | &nbsp;&nbsp; 621851 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 10695839 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (39572) |
| USD | &nbsp;&nbsp; 12586414 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/4/22 | &nbsp;&nbsp;&nbsp;&nbsp; 231607 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 3476909 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/4/22 | &nbsp;&nbsp;&nbsp;&nbsp; 17563 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 283190 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 287296 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;11/4/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (768) |
| KZT | &nbsp;&nbsp; 593832875 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1221250 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;11/7/22 | &nbsp;&nbsp;&nbsp;&nbsp; 47662 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 591389138 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1225677 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;11/7/22 | &nbsp;&nbsp;&nbsp;&nbsp; 38013 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 456988 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 8385735 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/16/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (60002) |
| TRY | &nbsp;&nbsp; 105000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 5527770 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/17/22 | &nbsp;&nbsp;&nbsp;&nbsp; 53945 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 12843753 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 88000000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/17/22 | &nbsp;&nbsp;&nbsp;&nbsp; 838527 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 9194420 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/17/22 | &nbsp;&nbsp;&nbsp;&nbsp; 736193 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 9795756 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 67040000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/17/22 | &nbsp;&nbsp;&nbsp;&nbsp; 649957 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 2045986 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;11/17/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (359) |
| EUR | &nbsp;&nbsp; 3117028 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 3065257 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 18605 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 384173671 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 779257 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 38439 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 383939893 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 779257 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 37941 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 383784042 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 779257 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 37610 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 383589228 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 779257 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 37195 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1595026 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1558514 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 53095 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1581885 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1558514 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/18/22 | &nbsp;&nbsp;&nbsp;&nbsp; 39954 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| EUR | &nbsp;&nbsp; 1243906 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1224078 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 6945 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 306373977 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 621953 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 29223 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 306000805 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 621953 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 28430 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1257177 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1243906 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;11/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 26154 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| EUR | &nbsp;&nbsp; 519197 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 511094 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;11/25/22 | &nbsp;&nbsp;&nbsp;&nbsp; 2836 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 251291340 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 519197 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;11/25/22 | &nbsp;&nbsp;&nbsp;&nbsp; 14336 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 521427 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 519197 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;11/25/22 | &nbsp;&nbsp;&nbsp;&nbsp; 7497 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| EUR | &nbsp;&nbsp; 3109764 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 3061744 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/28/22 | &nbsp;&nbsp;&nbsp;&nbsp; 17139 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 1530781465 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 3109764 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/28/22 | &nbsp;&nbsp;&nbsp;&nbsp; 136881 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

*26*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;**Unrealized <br> Appreciation** | &nbsp;&nbsp;**Unrealized <br> (Depreciation)** |
| KZT | &nbsp;&nbsp; 610446727 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1243906 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/28/22 | &nbsp;&nbsp;$50795 | &nbsp;&nbsp;$— |
| KZT | &nbsp;&nbsp; 609202822 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1243906 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;11/28/22 | &nbsp;&nbsp;&nbsp;&nbsp; 48157 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 3131215 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 3109764 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;11/28/22 | &nbsp;&nbsp;&nbsp;&nbsp; 52333 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 405452305 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 832979 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp; 25730 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 90806655 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 186557 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/2/22 | &nbsp;&nbsp;&nbsp;&nbsp; 5763 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 1331886823 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 2726483 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/6/22 | &nbsp;&nbsp;&nbsp;&nbsp; 89846 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 486656961 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1000837 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/6/22 | &nbsp;&nbsp;&nbsp;&nbsp; 28219 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 765741473 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1565133 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;12/7/22 | &nbsp;&nbsp;&nbsp;&nbsp; 53416 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 45998350 | &nbsp;&nbsp;ILS | &nbsp;&nbsp; 156100000 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;12/8/22 | &nbsp;&nbsp;&nbsp;&nbsp; 1722374 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 7960000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 5528876 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 95538 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 5840000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 4054443 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 72011 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 18317600 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 12915089 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 27846 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 10520000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 7409703 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 23568 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 9280000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 6537122 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 19984 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 12600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 8971004 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (68038) |
| SGD | &nbsp;&nbsp; 14491800 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 10321317 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (81633) |
| SGD | &nbsp;&nbsp; 18300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 12894171 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 36329 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| SGD | &nbsp;&nbsp; 15900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 11203945 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp; 30751 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1334105 | &nbsp;&nbsp;SGD | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8406) |
| USD | &nbsp;&nbsp; 1875306 | &nbsp;&nbsp;SGD | &nbsp;&nbsp; 2675300 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/12/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15020) |
| KZT | &nbsp;&nbsp; 597803980 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1221878 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/13/22 | &nbsp;&nbsp;&nbsp;&nbsp; 38700 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| KZT | &nbsp;&nbsp; 596887571 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1221878 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/13/22 | &nbsp;&nbsp;&nbsp;&nbsp; 36767 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 761647 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 13892445 | &nbsp;&nbsp;ICBC Standard Bank plc | &nbsp;&nbsp;12/13/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (89489) |
| ZMW | &nbsp;&nbsp; 22954909 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1262994 | &nbsp;&nbsp;ICBC Standard Bank plc | &nbsp;&nbsp;12/13/22 | &nbsp;&nbsp;&nbsp;&nbsp; 143365 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| EUR | &nbsp;&nbsp; 1406924 | &nbsp;&nbsp;PLN | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (20234) |
| EUR | &nbsp;&nbsp; 31910357 | &nbsp;&nbsp;RON | &nbsp;&nbsp; 160000000 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (435485) |
| EUR | &nbsp;&nbsp; 2592988 | &nbsp;&nbsp;RON | &nbsp;&nbsp; 13030000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (41128) |
| PLN | &nbsp;&nbsp; 168059960 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 35008845 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 264942 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| PLN | &nbsp;&nbsp; 168059960 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 35008845 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 264942 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| PLN | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 677013 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 5124 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| PLN | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 677013 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 5124 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| RON | &nbsp;&nbsp; 187327000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 37360447 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 509863 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 8416611 | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 37900000 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 397749 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 6843684 | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 30800000 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 327036 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 6290986 | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 28300000 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 303287 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1480261 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp; 69423 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 7689508 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 142424500 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (38875) |
| USD | &nbsp;&nbsp; 7670626 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 142424500 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (57756) |
| ZAR | &nbsp;&nbsp; 58719700 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 3212794 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (26486) |
| ZAR | &nbsp;&nbsp; 56749560 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 3230930 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/14/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (151528) |
| KZT | &nbsp;&nbsp; 898996991 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1832817 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 61381 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 2519891 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 78238 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 4028159 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 73200000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 56403 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 33881494 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 603395524 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 1141878 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 22711675 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 401031402 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 952127 | &nbsp;&nbsp;&nbsp;&nbsp; — |

---

*27*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;**Unrealized <br> Appreciation** | &nbsp;&nbsp;**Unrealized <br> (Depreciation)** |
| USD | &nbsp;&nbsp; 17115663 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 300773550 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;$796002 | &nbsp;&nbsp;$— |
| USD | &nbsp;&nbsp; 11410442 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 200515700 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 530668 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 14571279 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 259499899 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 491083 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 9767519 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 172469970 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 409477 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 7360865 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 129352477 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 342333 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 4907243 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 86234985 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 228222 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 5235070 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 93231362 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 176433 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 3509208 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 61963839 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 147114 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 2644562 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 46472879 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 122991 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1763041 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 30981920 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 81994 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 23218116 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 419351000 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp; 464565 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| ZAR | &nbsp;&nbsp; 17636914 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 998834 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (41873) |
| ZAR | &nbsp;&nbsp; 17636914 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1003637 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (46676) |
| ZAR | &nbsp;&nbsp; 17636914 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1003637 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (46676) |
| ZAR | &nbsp;&nbsp; 53586117 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 3008935 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (101407) |
| ZAR | &nbsp;&nbsp; 283784583 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 16071617 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (673760) |
| ZAR | &nbsp;&nbsp; 283784584 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 16148898 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (751041) |
| ZAR | &nbsp;&nbsp; 283784583 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 16148898 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (751041) |
| ZAR | &nbsp;&nbsp; 862220778 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 48414890 | &nbsp;&nbsp;State Street Bank and Trust Company | &nbsp;&nbsp;12/15/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1631684) |
| CZK | &nbsp;&nbsp; 38870000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1561535 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 16002 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CZK | &nbsp;&nbsp; 7071566 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 286895 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CZK | &nbsp;&nbsp; 7071566 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 286904 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CZK | &nbsp;&nbsp; 7071566 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 286906 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CZK | &nbsp;&nbsp; 2585304 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 104907 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CZK | &nbsp;&nbsp; 1373097322 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 55125343 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 601441 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| CZK | &nbsp;&nbsp; 227046936 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 9154229 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 60731 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| EUR | &nbsp;&nbsp; 5271610 | &nbsp;&nbsp;CZK | &nbsp;&nbsp; 131308627 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (57516) |
| EUR | &nbsp;&nbsp; 7848209 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;3270030050 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (11459) |
| EUR | &nbsp;&nbsp; 862886 | &nbsp;&nbsp;HUF | &nbsp;&nbsp; 364500000 | &nbsp;&nbsp;HSBC Bank USA, N.A. | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13109) |
| HUF | &nbsp;&nbsp;12380028669 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 29712587 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/16/22 | &nbsp;&nbsp;&nbsp;&nbsp; 43384 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| EUR | &nbsp;&nbsp; 984526 | &nbsp;&nbsp;HUF | &nbsp;&nbsp; 416120000 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13663) |
| EUR | &nbsp;&nbsp; 3432667 | &nbsp;&nbsp;PLN | &nbsp;&nbsp; 16660000 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (54228) |
| MXN | &nbsp;&nbsp; 3214967 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 158440 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 2440 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MXN | &nbsp;&nbsp; 2244692380 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 109896642 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 2430017 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MXN | &nbsp;&nbsp; 6484637 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 317478 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 7020 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MXN | &nbsp;&nbsp; 141308986 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 6947893 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 123351 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MXN | &nbsp;&nbsp; 135855681 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 6693570 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 104785 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| MYR | &nbsp;&nbsp; 13386240 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 2961230 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (129101) |
| MYR | &nbsp;&nbsp; 264857029 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 58590207 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2554358) |
| PLN | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1452189 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 12969 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| RON | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 2228751 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7543) |
| THB | &nbsp;&nbsp; 46000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1215645 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1711) |
| THB | &nbsp;&nbsp; 814000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 22173795 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (692436) |
| THB | &nbsp;&nbsp; 1149302124 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 31218311 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (888371) |
| THB | &nbsp;&nbsp; 1334000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 36238675 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1034582) |

---

*28*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;**Unrealized <br> Appreciation** | &nbsp;&nbsp;**Unrealized <br> (Depreciation)** |
| USD | &nbsp;&nbsp; 3001666 | &nbsp;&nbsp;MXN | &nbsp;&nbsp; 60960000 | &nbsp;&nbsp;Barclays Bank PLC | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(48833) |
| USD | &nbsp;&nbsp; 3920997 | &nbsp;&nbsp;MXN | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (82283) |
| USD | &nbsp;&nbsp; 1052181 | &nbsp;&nbsp;MXN | &nbsp;&nbsp; 21491654 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23283) |
| USD | &nbsp;&nbsp; 14044203 | &nbsp;&nbsp;MXN | &nbsp;&nbsp; 286864271 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (310773) |
| USD | &nbsp;&nbsp; 28241086 | &nbsp;&nbsp;MXN | &nbsp;&nbsp; 576847145 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (624924) |
| USD | &nbsp;&nbsp; 16260532 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 595750000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 538764 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 12360268 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 455000000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 352875 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 8780158 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 323241524 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 249855 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 5847624 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 214140000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 196496 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 2953074 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 109500000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp; 63383 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 4202918 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 159900000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16823) |
| USD | &nbsp;&nbsp; 5208114 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 198200000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (22359) |
| USD | &nbsp;&nbsp; 11120780 | &nbsp;&nbsp;THB | &nbsp;&nbsp; 422990000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/21/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (41873) |
| CNH | &nbsp;&nbsp; 552778617 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 82586488 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7016729) |
| CNH | &nbsp;&nbsp; 63840000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 9548267 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (820771) |
| CNH | &nbsp;&nbsp; 72270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 10807020 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (927067) |
| USD | &nbsp;&nbsp; 12502164 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 83848000 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 1039396 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 11951751 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 1015038 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 10043289 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 67400000 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 829109 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 25174315 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 168500000 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 2138865 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 15134470 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 101300000 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 1285858 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 7383405 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 49400000 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 629985 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 4439011 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 29700000 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 378756 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 3645420 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 24400000 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 309723 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1061178 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 90544 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 5767050 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 38600000 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 490086 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 3466206 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 294559 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 836670 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 71101 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 14897157 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 1226267 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 11576010 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 77500000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 981070 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 6871774 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 46000000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 583165 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 6036903 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 40395516 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 514477 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 4138003 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 27700000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 351166 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 3633339 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 24312235 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 309640 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 985950 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 83671 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 867719 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 5806280 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;12/22/22 | &nbsp;&nbsp;&nbsp;&nbsp; 73949 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | &nbsp;&nbsp; 1523357 | &nbsp;&nbsp;ILS | &nbsp;&nbsp; 5354449 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;1/4/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (470) |
| USD | &nbsp;&nbsp; 646542 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 10779473 | &nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;1/19/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7864) |
| USD | &nbsp;&nbsp; 2058311 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 35608787 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;1/26/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (99365) |
| USD | &nbsp;&nbsp; 617493 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 10645586 | &nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;1/26/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (27565) |
| USD | &nbsp;&nbsp; 576926 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 9908699 | &nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;1/30/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (22835) |
| USD | &nbsp;&nbsp; 463820 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 8842724 | &nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;2/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (68634) |
| USD | &nbsp;&nbsp; 304659 | &nbsp;&nbsp;ZMW | &nbsp;&nbsp; 5986547 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;5/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (46283) |
| UZS | &nbsp;&nbsp;17164000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;ICBC Standard Bank plc | &nbsp;&nbsp;8/1/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16502) |

---

*29*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** | **Forward Foreign Currency Exchange Contracts (OTC) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Settlement <br> Date** | &nbsp;&nbsp;**Unrealized <br> Appreciation** | &nbsp;&nbsp;**Unrealized <br> (Depreciation)** |
| UZS | &nbsp;&nbsp; 8143221557 | &nbsp;&nbsp;USD | &nbsp;&nbsp; 648862 | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;10/24/23 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(8386) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$31517957** | &nbsp;&nbsp;**$(20873680)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** | **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** | **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** | **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** | **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** | **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** | **Non-Deliverable Bond Forward Contracts<sup>\*</sup>** |
| **Settlement Date** | &nbsp;&nbsp;**Notional Amount<br> (000's omitted)** | &nbsp;&nbsp;**Notional Amount<br> (000's omitted)** | &nbsp;&nbsp;**Reference Entity** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Aggregate Cost** | &nbsp;&nbsp;**Unrealized <br> Appreciation<br> (Depreciation)** |
| 11/21/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;27573800 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;$5583154 | &nbsp;&nbsp;$(95438) |
| 11/22/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;14598340 | &nbsp;&nbsp;Republic of Colombia,<br> 5.75%, 11/3/27 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp; 2955878 | &nbsp;&nbsp;&nbsp;&nbsp; (120955) |
| 11/22/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;56900000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.00%, 4/28/28 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;11521134 | &nbsp;&nbsp;&nbsp;&nbsp; (509914) |
| 11/22/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;24000000 | &nbsp;&nbsp;Republic of Colombia,<br> 7.50%, 8/26/26 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp; 4859529 | &nbsp;&nbsp;&nbsp;&nbsp; (120774) |
| 11/22/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;67000000 | &nbsp;&nbsp;Republic of Colombia,<br> 7.75%, 9/18/30 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;13566186 | &nbsp;&nbsp;&nbsp;&nbsp; (812533) |
| 11/22/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;73500000 | &nbsp;&nbsp;Republic of Colombia,<br> 10.00%, 7/24/24 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;14882308 | &nbsp;&nbsp;&nbsp;&nbsp; (77968) |
| 11/23/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;28233600 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 5716750 | &nbsp;&nbsp;&nbsp;&nbsp; 79623 |
| 12/7/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;48000000 | &nbsp;&nbsp;Republic of Colombia,<br> 7.50%, 8/26/26 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp; 9719058 | &nbsp;&nbsp;&nbsp;&nbsp; (51492) |
| 12/8/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;28680000 | &nbsp;&nbsp;Republic of Colombia,<br> 5.75%, 11/3/27 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp; 5807137 | &nbsp;&nbsp;&nbsp;&nbsp; 265851 |
| 12/8/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;18000000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.00%, 4/28/28 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 3644647 | &nbsp;&nbsp;&nbsp;&nbsp; (151067) |
| 12/8/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;36489600 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp; 7388428 | &nbsp;&nbsp;&nbsp;&nbsp; 235055 |
| 12/8/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp; 4122000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 834624 | &nbsp;&nbsp;&nbsp;&nbsp; (19260) |
| 12/14/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp; 6183000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 1251936 | &nbsp;&nbsp;&nbsp;&nbsp; (4294) |
| 12/16/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp; 7756000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 1570438 | &nbsp;&nbsp;&nbsp;&nbsp; 24926 |
| 12/19/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp; 6183000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 1251936 | &nbsp;&nbsp;&nbsp;&nbsp; (9135) |
| 12/20/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;25537800 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 5170904 | &nbsp;&nbsp;&nbsp;&nbsp; (1329) |
| 12/21/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp; 5496000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 1112832 | &nbsp;&nbsp;&nbsp;&nbsp; 37003 |
| 12/22/22 | &nbsp;&nbsp;COP | &nbsp;&nbsp;43166100 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 8740289 | &nbsp;&nbsp;&nbsp;&nbsp; 210798 |
| 1/10/23 | &nbsp;&nbsp;COP | &nbsp;&nbsp; 4072000 | &nbsp;&nbsp;Republic of Colombia,<br> 6.25%, 11/26/25 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp; 824500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;**$(1120903)** |

---

\* Represents a short-term forward contract to purchase the reference entity denominated in a non-deliverable foreign currency.

*30*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** |
| **Description** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration <br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional <br> Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| **Interest Rate Futures** |  |  |  |  |  |
| Euro-Bobl | &nbsp;&nbsp;&nbsp;&nbsp;(23) | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/8/22 | &nbsp;&nbsp;&nbsp;&nbsp;$(2720069) | &nbsp;&nbsp;&nbsp;&nbsp;$70462 |
| Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp;(15) | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12/8/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2052199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90870 |
| U.S. 5-Year Treasury Note | &nbsp;&nbsp;&nbsp;&nbsp;(13) | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;12/30/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1385719) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60836 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$222168** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** | **Interest Rate Swaps (Centrally Cleared)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63539 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 4.12% <br> (pays upon termination) | 1/2/23 | $(942842) | $— | $(942842) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;109032 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 4.70% <br> (pays upon termination) | 1/2/23 | (1225951) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1225951) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;175133 | Receives | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 4.71% <br> (pays upon termination) | 1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;2357167 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2357167 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62400 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 4.84% <br> (pays upon termination) | 1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;(647746) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (647746) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40336 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 5.84% <br> (pays upon termination) | 1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;(154440) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (154440) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30974 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 5.96% <br> (pays upon termination) | 1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83880) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (83880) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76081 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 6.55% <br> (pays upon termination) | 1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130916 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 130916 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35200 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 8.13% <br> (pays upon termination) | 1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540952 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 540952 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31500 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 5.41% <br> (pays upon termination) | 1/2/25 | (1011387) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1011387) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69990 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 5.76% <br> (pays upon termination) | 1/2/25 | (2233474) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2233474) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67422 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 6.09% <br> (pays upon termination) | 1/2/25 | (2011976) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2011976) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70160 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 6.27% <br> (pays upon termination) | 1/2/25 | (1563074) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1563074) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72000 | Receives | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 6.36% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;2061079 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2061079 |

---

*31*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11269 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 8.57% <br> (pays upon termination) | 1/2/25 | $77400 | $— | $77400 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47000 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 9.58% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;1463168 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1463168 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5239 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 9.90% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197283 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 197283 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57316 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 11.48% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46237) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (46237) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57254 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 11.49% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43921) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (43921) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37730 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 11.51% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25958) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (25958) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77800 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 11.74% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2167) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2167) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48500 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 13.19% <br> (pays upon termination) | 1/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294217 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 294217 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 11.53% <br> (pays upon termination) | 1/4/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14244 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14244 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19090 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 13.17% <br> (pays upon termination) | 1/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413555 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 413555 |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15200 | Pays | Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | 13.07% <br> (pays upon termination) | 1/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424098 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 424098 |
| CLP | 5000000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 3.68% <br> (pays semi-annually) | 2/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;(477237) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (477237) |
| CLP | 1140000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 3.49% <br> (pays semi-annually) | 4/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;(100944) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (100944) |
| CLP | 2650000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays annually) | 1.38% <br> (pays annually) | 6/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;(521370) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (521370) |
| CLP | 3700000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 1.33% <br> (pays semi-annually) | 9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;(684308) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (684308) |
| CLP | 5200000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 1.48% <br> (pays semi-annually) | 12/23/25 | (1085484) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1085484) |
| CLP | 2500000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 1.59% <br> (pays semi-annually) | 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;(500138) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (500138) |
| CLP | 2500000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 1.92% <br> (pays semi-annually) | 2/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;(462519) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (462519) |

---

*32*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;584900 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 2.87% <br> (pays semi-annually) | 5/31/26 | $(102350) | $— | $(102350) |
| CLP | 2217300 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 6.61% <br> (pays semi-annually) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2331 |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;794000 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 4.02% <br> (pays semi-annually) | 3/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;(112397) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (112397) |
| CLP | 3362600 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 4.08% <br> (pays semi-annually) | 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;(586464) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (586464) |
| CLP | 1759504 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 4.18% <br> (pays semi-annually) | 7/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;(293833) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (293833) |
| CLP | 4871900 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 4.22% <br> (pays semi-annually) | 7/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;(795492) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (795492) |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;466400 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 6.20% <br> (pays semi-annually) | 4/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6822) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6822) |
| CLP | 1432670 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 6.35% <br> (pays semi-annually) | 4/11/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5601) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5601) |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;274770 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 6.40% <br> (pays semi-annually) | 4/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 224 |
| CLP | 1398810 | Pays | 6-month Sinacofi Chile Interbank Rate<br> (pays semi-annually) | 6.38% <br> (pays semi-annually) | 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (118) |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.47% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24129 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24129 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56300 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.47% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41166 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 41166 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24400 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.50% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22396 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22396 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28200 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.50% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26761 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26761 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18800 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.51% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19244 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19244 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28100 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.52% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31037 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 31037 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28100 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.52% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30163 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30163 |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.52% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10324 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10324 |

---

*33*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28100 | Pays | 7-day China Fixing Repo Rates<br> (pays quarterly) | 2.52% <br> (pays quarterly) | 9/21/27 | $30862 | $— | $30862 |
| COP | 6031600 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 3.76% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247822 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 247822 |
| COP | 12063100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.00% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479599 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 479599 |
| COP | 11354500 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.05% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448117 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 448117 |
| COP | 15464200 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.11% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605821 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 605821 |
| COP | 12992300 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.16% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505024 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 505024 |
| COP | 12063100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.20% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466231 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 466231 |
| COP | 12063100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.28% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460884 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 460884 |
| COP | 6488700 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.34% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245614 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 245614 |
| COP | 20568100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.53% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757450 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 757450 |
| COP | 12079200 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.55% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443763 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 443763 |
| COP | 5979100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.73% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213530 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 213530 |
| COP | 25137100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.78% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890752 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 890752 |
| COP | 20568100 | Pays | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 5.68% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;(626281) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (626281) |
| COP | 5427000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 8.60% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77535 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 77535 |
| COP | 10304000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 8.75% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138478 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 138478 |
| COP | 5427000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 8.85% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69928 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 69928 |
| COP | 5496000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 9.23% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59154 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 59154 |

---

*34*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| COP | 3792000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 9.42% <br> (pays quarterly) | 11/26/25 | $36990 | $— | $36990 |
| COP | 9065738 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 10.00% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58948 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 58948 |
| COP | 3383000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 10.17% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18784 | &nbsp;&nbsp;&nbsp; (59) | &nbsp;&nbsp;&nbsp; 18725 |
| COP | 6495000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 10.28% <br> (pays quarterly) | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32228 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 32228 |
| COP | 25708100 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.38% <br> (pays quarterly) | 3/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;1025153 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1025153 |
| COP | 41744000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.38% <br> (pays quarterly) | 3/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;1664127 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1664127 |
| COP | 17723600 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.56% <br> (pays quarterly) | 4/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687016 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 687016 |
| COP | 41012000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 11.93% <br> (pays quarterly) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;(266614) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (266614) |
| COP | 10005000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 12.10% <br> (pays quarterly) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77500) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (77500) |
| COP | 7441800 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.82% <br> (pays quarterly) | 3/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378261 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 378261 |
| COP | 5315600 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 4.83% <br> (pays quarterly) | 3/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269751 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 269751 |
| COP | 14203000 | Receives | Colombia Overnight Interbank Reference Rate<br> (pays quarterly) | 11.93% <br> (pays quarterly) | 12/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;(165061) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (165061) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;200800 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 1.40% <br> (pays annually) | 3/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;(951099) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (951099) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;258400 | Receives | 6-month CZK PRIBOR<br> (pays semi-annually) | 1.37% <br> (pays annually) | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1224121 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1224121 |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;300000 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 1.46% <br> (pays annually) | 3/15/26 | (1766187) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1766187) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;147500 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 1.73% <br> (pays annually) | 5/6/26 | &nbsp;&nbsp;&nbsp;&nbsp;(961481) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (961481) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;143000 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 5.15% <br> (pays annually) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;(222494) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (222494) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;422198 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 1.74% <br> (pays annually) | 5/31/29 | (4101742) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4101742) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;243250 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 2.47% <br> (pays annually) | 10/5/31 | (2208481) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2208481) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;116720 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 2.51% <br> (pays annually) | 10/6/31 | (1044857) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1044857) |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;391000 | Receives | 6-month CZK PRIBOR<br> (pays semi-annually) | 2.75% <br> (pays annually) | 10/20/31 | &nbsp;&nbsp;&nbsp;&nbsp;3217959 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3217959 |

---

*35*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;388980 | Pays | 6-month CZK PRIBOR<br> (pays semi-annually) | 2.65% <br> (pays annually) | 12/15/31 | $(3326879) | $— | $(3326879) |
| HUF | &nbsp;&nbsp;&nbsp;&nbsp;480000 | Pays | 6-month HUF BUBOR<br> (pays semi-annually) | 0.79% <br> (pays annually) | 8/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;(270279) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (270279) |
| HUF | 3500000 | Pays | 6-month HUF BUBOR<br> (pays semi-annually) | 0.71% <br> (pays annually) | 11/22/24 | (2221339) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2221339) |
| HUF | 6619000 | Receives | 6-month HUF BUBOR<br> (pays semi-annually) | 1.30% <br> (pays annually) | 3/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;4045840 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4045840 |
| HUF | 1000000 | Pays | 6-month HUF BUBOR<br> (pays semi-annually) | 1.20% <br> (pays annually) | 11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;(778475) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (778475) |
| HUF | 2000000 | Pays | 6-month HUF BUBOR<br> (pays semi-annually) | 1.06% <br> (pays annually) | 12/22/25 | (1534103) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1534103) |
| HUF | &nbsp;&nbsp;&nbsp;&nbsp;881600 | Receives | 6-month HUF BUBOR<br> (pays semi-annually) | 10.03% <br> (pays annually) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164816 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 164816 |
| ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | Pays | 3-month ILS TELBOR<br> (pays quarterly) | 3.64% <br> (pays annually) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 540 |
| INR | &nbsp;&nbsp;&nbsp;&nbsp;289000 | Pays | 1-day INR FBIL MIBOR<br> (pays semi-annually) | 6.87% <br> (pays semi-annually) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11886) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (11886) |
| KRW | 93003200 | Pays | 3-month KRW Certificate of Deposit Rate<br> (pays quarterly) | 1.75% <br> (pays quarterly) | 10/5/23 | (1502771) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1502771) |
| KRW | 63950500 | Pays | 3-month KRW Certificate of Deposit Rate<br> (pays quarterly) | 1.75% <br> (pays quarterly) | 10/5/23 | (1032932) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1032932) |
| KRW | 40588300 | Pays | 3-month KRW Certificate of Deposit Rate<br> (pays quarterly) | 1.77% <br> (pays quarterly) | 10/5/23 | &nbsp;&nbsp;&nbsp;&nbsp;(652471) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (652471) |
| KRW | 11700000 | Pays | 3-month KRW Certificate of Deposit Rate<br> (pays quarterly) | 2.07% <br> (pays quarterly) | 11/24/31 | (1250183) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1250183) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;267700 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 7.58% <br> (pays monthly) | 3/21/23 | &nbsp;&nbsp;&nbsp;&nbsp;(173519) | &nbsp;&nbsp;&nbsp; (783) | &nbsp;&nbsp;&nbsp;&nbsp; (174302) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;350500 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 8.98% <br> (pays monthly) | 11/29/23 | &nbsp;&nbsp;&nbsp;&nbsp;(324835) | &nbsp;&nbsp;&nbsp; (2917) | &nbsp;&nbsp;&nbsp;&nbsp; (327752) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;185000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 8.13% <br> (pays monthly) | 2/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;(283501) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (283501) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;600760 | Receives | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.76% <br> (pays monthly) | 3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;1492817 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1492817 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;166961 | Receives | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.79% <br> (pays monthly) | 3/7/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411589 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 411589 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;408300 | Receives | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 7.35% <br> (pays monthly) | 3/14/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855039 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 855039 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67771 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.08% <br> (pays monthly) | 6/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;(228236) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (228236) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;224000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 7.19% <br> (pays monthly) | 6/27/24 | &nbsp;&nbsp;&nbsp;&nbsp;(558770) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (558770) |

---

*36*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;130204 | Receives | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.66% <br> (pays monthly) | 11/7/24 | $428483 | $— | $428483 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;391500 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 4.65% <br> (pays monthly) | 2/6/25 | (2174007) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2174007) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;144000 | Receives | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 7.40% <br> (pays monthly) | 3/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387544 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 387544 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;205000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 5.44% <br> (pays monthly) | 3/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;(982373) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (982373) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;222000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 4.71% <br> (pays monthly) | 12/12/25 | (1477912) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1477912) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;111000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.07% <br> (pays monthly) | 4/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;(573288) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (573288) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;165000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.11% <br> (pays monthly) | 6/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;(846928) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (846928) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;130000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.21% <br> (pays monthly) | 6/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;(658455) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (658455) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;160000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.54% <br> (pays monthly) | 9/4/26 | &nbsp;&nbsp;&nbsp;&nbsp;(763479) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (763479) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;176000 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 7.86% <br> (pays monthly) | 1/5/28 | &nbsp;&nbsp;&nbsp;&nbsp;(535156) | &nbsp;&nbsp;&nbsp; (3658) | &nbsp;&nbsp;&nbsp;&nbsp; (538814) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83120 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 6.77% <br> (pays monthly) | 9/18/29 | &nbsp;&nbsp;&nbsp;&nbsp;(537060) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (537060) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 5.91% <br> (pays monthly) | 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;(141172) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (141172) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;124500 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 5.37% <br> (pays monthly) | 12/6/30 | (1406995) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1406995) |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29200 | Pays | Mexico Interbank TIIE 28 Day<br> (pays monthly) | 7.95% <br> (pays monthly) | 12/3/31 | &nbsp;&nbsp;&nbsp;&nbsp;(120241) | &nbsp;&nbsp;&nbsp;(243071) | &nbsp;&nbsp;&nbsp;&nbsp; (363312) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.35% <br> (pays annually) | 11/19/22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61356) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (61356) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.43% <br> (pays annually) | 6/8/23 | &nbsp;&nbsp;&nbsp;&nbsp;(256528) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (256528) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.04% <br> (pays annually) | 1/31/24 | &nbsp;&nbsp;&nbsp;&nbsp;(301549) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (301549) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.01% <br> (pays annually) | 2/11/24 | &nbsp;&nbsp;&nbsp;&nbsp;(244918) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (244918) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.05% <br> (pays annually) | 2/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;(196030) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (196030) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15522 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.01% <br> (pays annually) | 3/13/24 | &nbsp;&nbsp;&nbsp;&nbsp;(237432) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (237432) |

---

*37*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 1.99% <br> (pays annually) | 5/30/24 | $(413458) | $— | $(413458) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 1.79% <br> (pays annually) | 7/5/24 | &nbsp;&nbsp;&nbsp;&nbsp;(896089) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (896089) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27850 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 1.76% <br> (pays annually) | 8/6/24 | &nbsp;&nbsp;&nbsp;&nbsp;(668969) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (668969) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 1.66% <br> (pays annually) | 10/2/24 | &nbsp;&nbsp;&nbsp;&nbsp;(296227) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (296227) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.44% <br> (pays annually) | 10/28/24 | &nbsp;&nbsp;&nbsp;&nbsp;(245343) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (245343) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 1.97% <br> (pays annually) | 1/20/25 | (1304817) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1304817) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | Receives | 6-month PLN WIBOR<br> (pays semi-annually) | 1.44% <br> (pays annually) | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;1059495 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1059495 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 0.48% <br> (pays annually) | 8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;(439562) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (439562) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 0.69% <br> (pays annually) | 8/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;(432804) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (432804) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 0.64% <br> (pays annually) | 1/25/26 | (1863397) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1863397) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | Receives | 6-month PLN WIBOR<br> (pays semi-annually) | 1.69% <br> (pays annually) | 9/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;2001000 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2001000 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;102370 | Receives | 6-month PLN WIBOR<br> (pays semi-annually) | 2.19% <br> (pays annually) | 10/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;3897877 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3897877 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13250 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 3.87% <br> (pays annually) | 3/3/27 | &nbsp;&nbsp;&nbsp;&nbsp;(324361) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (324361) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99138 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 3.91% <br> (pays annually) | 3/3/27 | (2387989) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2387989) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 2.84% <br> (pays annually) | 1/10/28 | (3026970) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3026970) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | Receives | 6-month PLN WIBOR<br> (pays semi-annually) | 0.93% <br> (pays annually) | 5/8/30 | &nbsp;&nbsp;&nbsp;&nbsp;1895440 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1895440 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18500 | Receives | 6-month PLN WIBOR<br> (pays semi-annually) | 2.02% <br> (pays annually) | 5/26/31 | &nbsp;&nbsp;&nbsp;&nbsp;1369396 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1369396 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26700 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 1.74% <br> (pays annually) | 7/2/31 | (2076830) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2076830) |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20500 | Pays | 6-month PLN WIBOR<br> (pays semi-annually) | 5.19% <br> (pays annually) | 9/21/32 | &nbsp;&nbsp;&nbsp;&nbsp;(651605) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (651605) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;175000 | Pays | 6-month THB Fixing Rate<br> (pays semi-annually) | 1.29% <br> (pays semi-annually) | 11/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75471) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (75471) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;233000 | Receives | 6-month THB Fixing Rate<br> (pays semi-annually) | 1.02% <br> (pays semi-annually) | 3/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178016 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 178016 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;291000 | Pays | 6-month THB Fixing Rate<br> (pays semi-annually) | 0.90% <br> (pays semi-annually) | 2/23/26 | &nbsp;&nbsp;&nbsp;&nbsp;(397526) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (397526) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;120000 | Pays | 6-month THB Fixing Rate<br> (pays semi-annually) | 1.30% <br> (pays semi-annually) | 11/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;(160570) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (160570) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;155000 | Pays | Thai Overnight Repurchase Rate<br> (pays quarterly) | 2.45% <br> (pays quarterly) | 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36828) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (36828) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93000 | Pays | Thai Overnight Repurchase Rate<br> (pays quarterly) | 1.96% <br> (pays quarterly) | 8/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80217) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (80217) |

---

*38*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** | **Interest Rate Swaps (Centrally Cleared) (continued)** |
| **Notional Amount<br> (000's omitted)** | **Notional Amount<br> (000's omitted)** | **Portfolio <br> Pays/<br> Receives<br> Floating<br> Rate** | **Floating Rate** | **Annual <br> Fixed Rate** | **Termination <br> Date** | **Value** | **Unamortized <br> Upfront<br> Receipts<br> (Payments)** | **Unrealized <br> Appreciation<br> (Depreciation)** |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;219000 | Pays | Thai Overnight Repurchase Rate<br> (pays quarterly) | 2.02% <br> (pays quarterly) | 9/21/27 | $(189776) | $— | $(189776) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93000 | Pays | Thai Overnight Repurchase Rate<br> (pays quarterly) | 2.04% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79033) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (79033) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81729 | Pays | Thai Overnight Repurchase Rate<br> (pays quarterly) | 2.87% <br> (pays quarterly) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1504 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85271 | Pays | Thai Overnight Repurchase Rate<br> (pays quarterly) | 2.87% <br> (pays quarterly) | 12/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1996 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;204600 | Pays | 6-month THB Fixing Rate<br> (pays semi-annually) | 1.72% <br> (pays semi-annually) | 10/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;(646281) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (646281) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;200000 | Pays | 6-month THB Fixing Rate<br> (pays semi-annually) | 1.69% <br> (pays semi-annually) | 11/4/31 | &nbsp;&nbsp;&nbsp;&nbsp;(618733) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (618733) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55027 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 6.64% <br> (pays quarterly) | 2/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70460) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (70460) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;244000 | Receives | 3-month ZAR JIBAR<br> (pays quarterly) | 7.04% <br> (pays quarterly) | 3/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204768 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 204768 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65700 | Receives | 3-month ZAR JIBAR<br> (pays quarterly) | 6.91% <br> (pays quarterly) | 3/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66203 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66203 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43340 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 5.40% <br> (pays quarterly) | 6/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;(139388) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (139388) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 4.97% <br> (pays quarterly) | 8/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;(208136) | &nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; (208072) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54900 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 5.56% <br> (pays quarterly) | 2/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;(219094) | &nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; (218962) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68770 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 8.79% <br> (pays quarterly) | 3/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92705 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 92705 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79000 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 5.96% <br> (pays quarterly) | 5/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;(284434) | &nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; (284172) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;132000 | Receives | 3-month ZAR JIBAR<br> (pays quarterly) | 6.64% <br> (pays quarterly) | 10/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389741 | &nbsp;&nbsp;&nbsp;&nbsp; (589) | &nbsp;&nbsp;&nbsp; 389152 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15850 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 6.54% <br> (pays quarterly) | 2/23/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54732) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (54732) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;185000 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 8.07% <br> (pays quarterly) | 9/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;(142207) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (142207) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;108000 | Pays | 3-month ZAR JIBAR<br> (pays quarterly) | 8.38% <br> (pays quarterly) | 5/4/32 | &nbsp;&nbsp;&nbsp;&nbsp;(381703) | &nbsp;&nbsp;&nbsp; 726 | &nbsp;&nbsp;&nbsp;&nbsp; (380977) |
| **Total** |  |  |  |  |  | **$(30717430)** | **$(249893)** | **$(30967323)** |

---

*39*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** | **Interest Rate Swaps (OTC)** |
| **Counterparty** | &nbsp;&nbsp;**Notional Amount<br> (000's omitted)** | &nbsp;&nbsp;**Notional Amount<br> (000's omitted)** | &nbsp;&nbsp;**Portfolio <br> Pays/Receives<br> Floating Rate** | &nbsp;&nbsp;**Floating Rate** | &nbsp;&nbsp;**Annual <br> Fixed Rate** | &nbsp;&nbsp;**Termination <br> Date** | &nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| Bank of America, N.A. | &nbsp;&nbsp;BRL | &nbsp;&nbsp; 12953 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | &nbsp;&nbsp;13.10% <br> (pays upon termination) | &nbsp;&nbsp;1/2/23 | &nbsp;&nbsp;$2124718 |
| Bank of America, N.A. | &nbsp;&nbsp;THB | &nbsp;&nbsp;400000 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;1.91% <br> (pays semi-annually) | &nbsp;&nbsp;11/2/22 | &nbsp;&nbsp;&nbsp;&nbsp; 69643 |
| Bank of America, N.A. | &nbsp;&nbsp;THB | &nbsp;&nbsp;230000 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;1.90% <br> (pays semi-annually) | &nbsp;&nbsp;12/8/22 | &nbsp;&nbsp;&nbsp;&nbsp; 34907 |
| BNP Paribas | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 17413 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;3-month MYR KLIBOR<br> (pays quarterly) | &nbsp;&nbsp;2.95% <br> (pays quarterly) | &nbsp;&nbsp;3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp; (177947) |
| Citibank, N.A. | &nbsp;&nbsp;THB | &nbsp;&nbsp;330000 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;1.87% <br> (pays semi-annually) | &nbsp;&nbsp;3/27/23 | &nbsp;&nbsp;&nbsp;&nbsp; 51129 |
| Citibank, N.A. | &nbsp;&nbsp;THB | &nbsp;&nbsp;250000 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;2.22% <br> (pays semi-annually) | &nbsp;&nbsp;10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp; 26711 |
| Citibank, N.A. | &nbsp;&nbsp;THB | &nbsp;&nbsp; 87340 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;1.96% <br> (pays semi-annually) | &nbsp;&nbsp;3/18/24 | &nbsp;&nbsp;&nbsp;&nbsp; 6361 |
| Credit Suisse International | &nbsp;&nbsp;RUB | &nbsp;&nbsp;275000 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;3-month Moscow Prime Offered Rate<br> (pays quarterly) | &nbsp;&nbsp;7.85% <br> (pays annually) | &nbsp;&nbsp;11/1/22 | &nbsp;&nbsp;&nbsp;&nbsp; 217304 |
| Deutsche Bank AG | &nbsp;&nbsp;BRL | &nbsp;&nbsp; 1970 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | &nbsp;&nbsp;12.98% <br> (pays upon termination) | &nbsp;&nbsp;1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp; 313782 |
| Deutsche Bank AG | &nbsp;&nbsp;THB | &nbsp;&nbsp;324320 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;2.13% <br> (pays semi-annually) | &nbsp;&nbsp;11/19/23 | &nbsp;&nbsp;&nbsp;&nbsp; 88204 |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 88787 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;3-month MYR KLIBOR<br> (pays quarterly) | &nbsp;&nbsp;2.95% <br> (pays quarterly) | &nbsp;&nbsp;3/16/27 | &nbsp;&nbsp;&nbsp;&nbsp; (908154) |
| Nomura International PLC | &nbsp;&nbsp;BRL | &nbsp;&nbsp; 4440 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | &nbsp;&nbsp;12.83% <br> (pays upon termination) | &nbsp;&nbsp;1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp; 678953 |
| Nomura International PLC | &nbsp;&nbsp;BRL | &nbsp;&nbsp; 2006 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;Brazil CETIP Interbank Deposit Rate<br> (pays upon termination) | &nbsp;&nbsp;12.90% <br> (pays upon termination) | &nbsp;&nbsp;1/2/23 | &nbsp;&nbsp;&nbsp;&nbsp; 312517 |
| Standard Chartered Bank | &nbsp;&nbsp;THB | &nbsp;&nbsp;650000 | &nbsp;&nbsp;Pays | &nbsp;&nbsp;6-month THB Fixing Rate<br> (pays semi-annually) | &nbsp;&nbsp;2.15% <br> (pays semi-annually) | &nbsp;&nbsp;8/20/23 | &nbsp;&nbsp;&nbsp;&nbsp; 141827 |
| **Total** |  |  |  |  |  |  | &nbsp;&nbsp;**$2979955** |

---

*40*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Buy Protection (Centrally Cleared)** | **Credit Default Swaps - Buy Protection (Centrally Cleared)** | **Credit Default Swaps - Buy Protection (Centrally Cleared)** | **Credit Default Swaps - Buy Protection (Centrally Cleared)** | **Credit Default Swaps - Buy Protection (Centrally Cleared)** |  |
| **Reference Entity** | &nbsp;&nbsp;**Notional <br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Termination <br> Date** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unamortized <br> Upfront<br> Receipts<br> (Payments)** | &nbsp;&nbsp;**Unrealized <br> Appreciation<br> (Depreciation)** |
| Markit CDX Emerging Markets Index (CDX.EM.31.V2) | $86 &nbsp;&nbsp;1.00% <br> (pays quarterly)<sup>(1)</sup> | &nbsp;&nbsp;6/20/24 | &nbsp;&nbsp;$759 | &nbsp;&nbsp;$(4316) | &nbsp;&nbsp;$(3557) |
| **Total** |  |  | &nbsp;&nbsp;**$759** | &nbsp;&nbsp;**$(4316)** | &nbsp;&nbsp;**$(3557)** |

---

\* The contract annual fixed rate represents the fixed rate of interest paid by the Portfolio (as a buyer of protection) on the notional amount of the credit default swap contract.

<sup>(1)</sup> Upfront payment is exchanged with the counterparty as a result of the standardized trading coupon.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Cross-Currency Swaps (OTC)** | **Cross-Currency Swaps (OTC)** | **Cross-Currency Swaps (OTC)** |  |  |
| **Counterparty** | &nbsp;&nbsp;**Portfolio Receives** | &nbsp;&nbsp;**Portfolio Pays** | &nbsp;&nbsp;**Effective Date/<br> Termination<br> Date<sup>(1)</sup>** | &nbsp;&nbsp;**Value/Unrealized <br> Appreciation<br> (Depreciation)** |
| BNP Paribas | &nbsp;&nbsp;3-month PLN WIBOR + 1.45% on PLN 17,142,858 (Notional Amount) (pays quarterly) plus EUR equivalent of Notional Amount at effective date\* | &nbsp;&nbsp;3-month EURIBOR on EUR equivalent of Notional Amount at effective date (pays quarterly) plus Notional Amount \* | &nbsp;&nbsp;10/14/25/ <br> 10/14/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(980) |
| Citibank, N.A. | &nbsp;&nbsp;1-day Indice Camara Promedio Rate on CLP 731,637,500 (pays semi-annually)\*\* | &nbsp;&nbsp;(0.07)% on CLP equivalent of CLF 25,000 (pays semi-annually)\*\* | &nbsp;&nbsp;Not Applicable/<br> 2/25/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42985 |
| Goldman Sachs International | &nbsp;&nbsp;1-day Indice Camara Promedio Rate on CLP 381,027,240 (pays semi-annually)\*\* | &nbsp;&nbsp;2.10% on CLP equivalent of CLF 12,000 (pays semi-annually)\*\* | &nbsp;&nbsp;Not Applicable/<br> 4/8/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23637) |
| Goldman Sachs International | &nbsp;&nbsp;1-day Indice Camara Promedio Rate on CLP 1,174,947,580 (pays semi-annually)\*\* | &nbsp;&nbsp;2.25% on CLP equivalent of CLF 37,000 (pays semi-annually)\*\* | &nbsp;&nbsp;Not Applicable/<br> 4/11/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89930) |
| Goldman Sachs International | &nbsp;&nbsp;1-day Indice Camara Promedio Rate on CLP 214,234,175 (pays semi-annually)\*\* | &nbsp;&nbsp;1.85% on CLP equivalent of CLF 6,700 (pays semi-annually)\*\* | &nbsp;&nbsp;Not Applicable/<br> 4/20/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6902) |
| Goldman Sachs International | &nbsp;&nbsp;1-day Indice Camara Promedio Rate on CLP 1,088,523,600 (pays semi-annually)\*\* | &nbsp;&nbsp;1.84% on CLP equivalent of CLF 34,000 (pays semi-annually)\*\* | &nbsp;&nbsp;Not Applicable/<br> 4/22/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33686) |
|  |  |  |  | &nbsp;&nbsp;**$(112150)** |

---

\* The Portfolio pays interest on the currency received and receives interest on the currency delivered. At the termination date, the notional amount of the currency received will be exchanged for the notional amount of the currency delivered.

\*\* At the termination date, the Portfolio will either pay or receive the USD equivalent of the difference between the initial CLP notional amount and the CLP equivalent of the CLF notional amount on such date.

<sup>(1)</sup> Effective date represents the date on which the Portfolio and counterparty exchange the currencies and begin interest payment accrual.

*41*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Portfolio of Investments — continued

------

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| BUBOR | – Budapest Interbank Offered Rate |
| EURIBOR | – Euro Interbank Offered Rate |
| FBIL | – Financial Benchmarks India Ltd. |
| JIBAR | – Johannesburg Interbank Average Rate |
| KLIBOR | – Kuala Lumpur Interbank Offered Rate |
| MIBOR | – Mumbai Interbank Offered Rate |
| OTC | – Over-the-counter |
| PRIBOR | – Prague Interbank Offered Rate |
| TELBOR | – Tel Aviv Interbank Offered Rate |
| WIBOR | – Warsaw Interbank Offered Rate |

---

---

| | |
|:---|:---|
| **Currency Abbreviations:** | **Currency Abbreviations:** |
| BAM | – Bosnia-Herzegovina Convertible Mark |
| BRL | – Brazilian Real |
| CLP | – Chilean Peso |
| CNH | – Yuan Renminbi Offshore |
| CNY | – Yuan Renminbi |
| COP | – Colombian Peso |
| CRC | – Costa Rican Colon |
| CZK | – Czech Koruna |
| DOP | – Dominican Peso |
| EUR | – Euro |
| HUF | – Hungarian Forint |
| IDR | – Indonesian Rupiah |
| ILS | – Israeli Shekel |
| INR | – Indian Rupee |
| KRW | – South Korean Won |
| KZT | – Kazakhstani Tenge |
| MXN | – Mexican Peso |

---

---

| | |
|:---|:---|
| MYR | – Malaysian Ringgit |
| PEN | – Peruvian Sol |
| PLN | – Polish Zloty |
| RON | – Romania New Leu |
| RSD | – Serbian Dinar |
| RUB | – Russian Ruble |
| SGD | – Singapore Dollar |
| THB | – Thai Baht |
| TRY | – New Turkish Lira |
| UAH | – Ukrainian Hryvnia |
| UGX | – Ugandan Shilling |
| USD | – United States Dollar |
| UYU | – Uruguayan Peso |
| UZS | – Uzbekistani Som |
| ZAR | – South African Rand |
| ZMW | – Zambian Kwacha |

---

*42*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Statement of Assets and Liabilities

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**October 31, 2022** |
| Assets |  |
| Unaffiliated investments, at value (identified cost $1,019,767,384) | &nbsp;&nbsp;$763629481 |
| Affiliated investment, at value (identified cost $34,198,985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34198985 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507847 |
| Deposits for derivatives collateral: |  |
| &nbsp;&nbsp;&nbsp;Centrally cleared derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35051228 |
| &nbsp;&nbsp;&nbsp;OTC derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 |
| Foreign currency, at value (identified cost $22,657,562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22078086 |
| Interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20008013 |
| Dividends receivable from affiliated investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124691 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70818400 |
| Receivable for variation margin on open futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17234 |
| Receivable for variation margin on open centrally cleared derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327445 |
| Receivable for open forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31517957 |
| Receivable for open swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4109041 |
| Receivable for open non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853256 |
| **Total assets** | &nbsp;&nbsp;**$984691664** |
| Liabilities |  |
| Cash collateral due to brokers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$450000 |
| Payable for open forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20873680 |
| Payable for open swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241236 |
| Payable for closed swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32266 |
| Payable for open non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974159 |
| Payable to affiliates: |  |
| &nbsp;&nbsp;&nbsp;Investment adviser fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529112 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6786 |
| Accrued foreign capital gains taxes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246000 |
| Accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607894 |
| **Total liabilities** | &nbsp;&nbsp;**$25961133** |
| **Net Assets applicable to investors' interest in Portfolio** | &nbsp;&nbsp;**$958730531** |

---

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Statement of Operations

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Year Ended** |
|  | &nbsp;&nbsp;&nbsp;**October 31, 2022** |
| Investment Income |  |
| Dividend income from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$751897 |
| Interest income (net of foreign taxes withheld of $2,013,621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87634586 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;**$88386483** |
| Expenses |  |
| Investment adviser fee | &nbsp;&nbsp;&nbsp;&nbsp;$7941172 |
| Trustees' fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74175 |
| Custodian fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178480 |
| Legal and accounting services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148069 |
| Miscellaneous | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86597 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;**$9428493** |
| Deduct: |  |
| &nbsp;&nbsp;&nbsp;Waiver and/or reimbursement of expenses by affiliate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62028 |
| **Total expense reductions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$62028** |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;**$9366465** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;**$79020018** |
| Realized and Unrealized Gain (Loss) |  |
| Net realized gain (loss): |  |
| &nbsp;&nbsp;&nbsp;Investment transactions (net of foreign capital gains taxes of $299,630) | &nbsp;&nbsp;$(75285871) |
| &nbsp;&nbsp;&nbsp;Investment transactions - affiliated investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4584 |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5282556 |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55459009) |
| &nbsp;&nbsp;&nbsp;Foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6345402) |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21520267) |
| &nbsp;&nbsp;&nbsp;Non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21079989) |
| **Net realized loss** | &nbsp;&nbsp;**$(174403398)** |
| Change in unrealized appreciation (depreciation): |  |
| &nbsp;&nbsp;&nbsp;Investments (including net decrease in accrued foreign capital gains taxes of $1,334,335) | &nbsp;&nbsp;$(196713633) |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(320378) |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4988242 |
| &nbsp;&nbsp;&nbsp;Foreign currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(989719) |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8920609 |
| &nbsp;&nbsp;&nbsp;Non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506289 |
| **Net change in unrealized appreciation (depreciation)** | &nbsp;&nbsp;**$(183608590)** |
| **Net realized and unrealized loss** | &nbsp;&nbsp;**$(358011988)** |
| **Net decrease in net assets from operations** | &nbsp;&nbsp;**$(278991970)** |

---

*44*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Statements of Changes in Net Assets

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** |
|  | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**2021** |
| Increase (Decrease) in Net Assets |  |  |
| From operations: |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$79020018 | &nbsp;&nbsp;&nbsp;&nbsp;$82706890 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(174403398) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14692597 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183608590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(102304622) |
| **Net decrease in net assets from operations** | &nbsp;&nbsp;**$(278991970)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4905135)** |
| Capital transactions: |  |  |
| &nbsp;&nbsp;&nbsp;Contributions | &nbsp;&nbsp;&nbsp;$154343479 | &nbsp;&nbsp;&nbsp;$713025206 |
| &nbsp;&nbsp;&nbsp;Withdrawals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(478241966) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(400434173) |
| **Net increase (decrease) in net assets from capital transactions** | &nbsp;&nbsp;**$(323898487)** | &nbsp;&nbsp;&nbsp;**$312591033** |
| **Net increase (decrease) in net assets** | &nbsp;&nbsp;**$(602890457)** | &nbsp;&nbsp;&nbsp;**$307685898** |
| Net Assets |  |  |
| At beginning of year | &nbsp;&nbsp;$1561620988 | &nbsp;&nbsp;$1253935090 |
| **At end of year** | &nbsp;&nbsp;&nbsp;**$958730531** | &nbsp;&nbsp;**$1561620988** |

---

*45*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Financial Highlights

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** |
| <br>Ratios/Supplemental Data | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**2021** | &nbsp;&nbsp;&nbsp;**2020** | &nbsp;&nbsp;&nbsp;**2019** | &nbsp;&nbsp;&nbsp;**2018** |
| Ratios (as a percentage of average daily net assets): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.76% <sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.87% <sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.43% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.98% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.22% |
| Portfolio Turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52% |
| **Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20.12)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.48%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**0.08%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.15%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9.33)%** |
| **Net assets, end of year (000's omitted)** | &nbsp;&nbsp;**$958731** | &nbsp;&nbsp;**$1561621** | &nbsp;&nbsp;**$1253935** | &nbsp;&nbsp;**$1238490** | &nbsp;&nbsp;**$783270** |

---

<sup>(1)</sup> Includes a reduction by the investment adviser of a portion of its adviser fee due to the Portfolio's investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the year ended October 31, 2022).

<sup>(2)</sup> Includes interest expense, including on securities sold short and/or reverse repurchase agreements if applicable, of 0.02% of average daily net assets for the year ended October 31, 2018.

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements

------

1 Significant Accounting Policies

Emerging Markets Local Income Portfolio (the Portfolio) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a non-diversified, open-end management investment company. The Portfolio's investment objective is total return. The Declaration of Trust permits the Trustees to issue interests in the Portfolio. At October 31, 2022, Eaton Vance Emerging Markets Local Income Fund, Eaton Vance Short Duration Strategic Income Fund and Eaton Vance International (Cayman Islands) Short Duration Strategic Income Fund held an interest of 86.7%, 12.6% and 0.7%, respectively, in the Portfolio.

The following is a summary of significant accounting policies of the Portfolio. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Portfolio is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946.

A Investment Valuation—The following methodologies are used to determine the market value or fair value of investments.

**Debt Obligations. Debt obligations are generally valued on the basis of valuations provided by third party pricing services, as derived from such services' pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, interest rates, anticipated prepayments, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term debt obligations purchased with a remaining maturity of sixty days or less for which a valuation from a third party pricing service is not readily available may be valued at amortized cost, which approximates fair value.**

**Derivatives. Futures contracts are valued at the closing settlement price established by the board of trade or exchange on which they are traded. Forward foreign currency exchange contracts are generally valued at the mean of the average bid and average ask prices that are reported by currency dealers to a third party pricing service at the valuation time. Such third party pricing service valuations are supplied for specific settlement periods and the Portfolio's forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent settlement period reported by the third party pricing service. Non-deliverable bond forward contracts are generally valued based on the current price of the underlying bond as provided by a third party pricing service and current interest rates. Swaps are normally valued using valuations provided by a third party pricing service. Such pricing service valuations are based on the present value of fixed and projected floating rate cash flows over the term of the swap contract, and in the case of credit default swaps, based on credit spread quotations obtained from broker/dealers and expected default recovery rates determined by the pricing service using proprietary models. Future cash flows on swaps are discounted to their present value using swap rates provided by electronic data services or by broker/dealers.**

**Foreign Securities and Currencies. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads.**

**Other. Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day.**

**Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, which became effective September 8, 2022, the Trustees have designated the Portfolio's investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security's "fair value", which is the amount that the Portfolio might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security's disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company's or entity's financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.**

B Investment Transactions—Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

C Income—Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount. Inflation adjustments to the principal amount of inflation-adjusted bonds and notes are reflected as interest income. Deflation adjustments to the principal amount of an inflation-adjusted bond or note are reflected as reductions to interest income to the extent of interest income previously recorded on such bond or note. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Withholding taxes on foreign interest and capital gains have been provided for in accordance with the Portfolio's understanding of the applicable countries' tax rules and rates.

D Federal and Other Taxes—The Portfolio has elected to be treated as a partnership for federal tax purposes. No provision is made by the Portfolio for federal or state taxes on any taxable income of the Portfolio because each investor in the Portfolio is ultimately responsible for the payment of any taxes on its share of taxable income. Since at least one of the Portfolio's investors is a regulated investment company that invests all or substantially all of its assets

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

in the Portfolio, the Portfolio normally must satisfy the applicable source of income and diversification requirements (under the Internal Revenue Code) in order for its investors to satisfy them. The Portfolio will allocate, at least annually among its investors, each investor's distributive share of the Portfolio's net investment income, net realized capital gains and losses and any other items of income, gain, loss, deduction or credit.

In addition to the requirements of the Internal Revenue Code, the Portfolio may also be subject to local taxes on the recognition of capital gains in certain countries. In determining the daily net asset value, the Portfolio estimates the accrual for such taxes, if any, based on the unrealized appreciation on certain portfolio securities and the related tax rates. Taxes attributable to unrealized appreciation are included in the change in unrealized appreciation (depreciation) on investments. Capital gains taxes on securities sold are included in net realized gain (loss) on investments.

As of October 31, 2022, the Portfolio had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Portfolio files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.

E Foreign Currency Translation—Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

F Use of Estimates—The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

G Indemnifications—Under the Portfolio's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Portfolio. Under Massachusetts law, if certain conditions prevail, interestholders in the Portfolio could be deemed to have personal liability for the obligations of the Portfolio. However, the Portfolio's Declaration of Trust contains an express disclaimer of liability on the part of Portfolio interestholders. Additionally, in the normal course of business, the Portfolio enters into agreements with service providers that may contain indemnification clauses. The Portfolio's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolio that have not yet occurred.

H Futures Contracts Upon entering into a futures contract, the Portfolio is required to deposit with the broker, either in cash or securities, an amount equal to a certain percentage of the contract amount (initial margin). Subsequent payments, known as variation margin, are made or received by the Portfolio each business day, depending on the daily fluctuations in the value of the underlying security, and are recorded as unrealized gains or losses by the Portfolio. Gains (losses) are realized upon the expiration or closing of the futures contracts. Should market conditions change unexpectedly, the Portfolio may not achieve the anticipated benefits of the futures contracts and may realize a loss. Futures contracts have minimal counterparty risk as they are exchange traded and the clearinghouse for the exchange is substituted as the counterparty, guaranteeing counterparty performance.

I Forward Foreign Currency Exchange and Non-Deliverable Bond Forward Contracts—The Portfolio may enter into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. The forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded as unrealized until such time as the contracts have been closed. While forward foreign currency exchange contracts are privately negotiated agreements between the Portfolio and a counterparty, certain contracts may be "centrally cleared", whereby all payments made or received by the Portfolio pursuant to the contract are with a central clearing party (CCP) rather than the original counterparty. The CCP guarantees the performance of the original parties to the contract. Upon entering into centrally cleared contracts, the Portfolio is required to deposit with the CCP, either in cash or securities, an amount of initial margin determined by the CCP, which is subject to adjustment. For centrally cleared contracts, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. The Portfolio may also enter into non-deliverable bond forward contracts for the purchase of a bond denominated in a non-deliverable foreign currency at a fixed price on a future date. For non-deliverable bond forward contracts, unrealized gains and losses, based on changes in the value of the contract, and realized gains and losses are accounted for as described above. Risks may arise upon entering these contracts from the potential inability of counterparties to meet the terms of their contracts and from movements in the value of a foreign currency relative to the U.S. dollar. In the case of centrally cleared contracts, counterparty risk is minimal due to protections provided by the CCP.

J Interest Rate Swaps— Swap contracts are privately negotiated agreements between the Portfolio and a counterparty. Certain swap contracts may be centrally cleared. Pursuant to interest rate swap agreements, the Portfolio either makes floating-rate payments to the counterparty (or CCP in the case of centrally cleared swaps) based on a benchmark interest rate in exchange for fixed-rate payments or the Portfolio makes fixed-rate payments to the counterparty (or CCP in the case of a centrally cleared swap) in exchange for payments on a floating benchmark interest rate. Payments received or made, including amortization of upfront payments/receipts, if any (which are amortized over the life of the swap contract), are recorded as realized gains or losses. During the term of the outstanding swap agreement, changes in the underlying value of the swap are recorded as unrealized gains or losses. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. The value of

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

the swap is determined by changes in the relationship between two rates of interest. The Portfolio is exposed to credit loss in the event of non-performance by the swap counterparty. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP. Risk may also arise from movements in interest rates.

K Cross-Currency Swaps—Cross-currency swaps are interest rate swaps in which interest cash flows are exchanged between two parties based on the notional amounts of two different currencies. The notional amounts are typically determined based on the spot exchange rates at the inception of the trade. Cross-currency swaps also involve the exchange of the notional amounts at the start of the contract at the current spot rate with an agreement to re-exchange such amounts at a later date at either the same exchange rate, a specified rate or the then current spot rate. The entire principal value of a cross-currency swap is subject to the risk that the counterparty to the swap will default on its contractual delivery obligations.

L Credit Default Swaps—When the Portfolio is the buyer of a credit default swap contract, the Portfolio is entitled to receive the par (or other agreed-upon) value of a referenced debt obligation (or basket of debt obligations) from the counterparty (or CCP in the case of a centrally cleared swap) to the contract if a credit event by a third party, such as a U.S. or foreign corporate issuer or sovereign issuer, on the debt obligation occurs. In return, the Portfolio pays the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Portfolio would have spent the stream of payments and received no proceeds from the contract. When the Portfolio is the seller of a credit default swap contract, it receives the stream of payments, but is obligated to pay to the buyer of the protection an amount up to the notional amount of the swap and in certain instances take delivery of securities of the reference entity upon the occurrence of a credit event, as defined under the terms of that particular swap agreement. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiation/moratorium. If the Portfolio is a seller of protection and a credit event occurs, the maximum potential amount of future payments that the Portfolio could be required to make would be an amount equal to the notional amount of the agreement. This potential amount would be partially offset by any recovery value of the respective referenced obligation, or net amount received from the settlement of a buy protection credit default swap agreement entered into by the Portfolio for the same referenced obligation. As the seller, the Portfolio may create economic leverage to its portfolio because, in addition to its total net assets, the Portfolio is subject to investment exposure on the notional amount of the swap. The interest fee paid or received on the swap contract, which is based on a specified interest rate on a fixed notional amount, is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized gain upon receipt or realized loss upon payment. The Portfolio also records an increase or decrease to unrealized appreciation (depreciation) in an amount equal to the daily valuation. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. All upfront payments and receipts, if any, are amortized over the life of the swap contract as realized gains or losses. Those upfront payments or receipts for non-centrally cleared swaps are recorded as other assets or other liabilities, respectively, net of amortization. For financial reporting purposes, unamortized upfront payments or receipts, if any, are netted with unrealized appreciation or depreciation on swap contracts to determine the market value of swaps as presented in Notes 5 and 8. These transactions involve certain risks, including the risk that the seller may be unable to fulfill the transaction. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP.

M Swaptions—A purchased swaption contract grants the Portfolio, in return for payment of the purchase price, the right, but not the obligation, to enter into a new swap agreement or to shorten, extend, cancel or otherwise modify an existing swap agreement, at some designated future time on specified terms. When the Portfolio purchases a swaption, the premium paid to the writer is recorded as an investment and subsequently marked-to-market to reflect the current value of the swaption. A written swaption gives the Portfolio the obligation, if exercised by the purchaser, to enter into a swap contract according to the terms of the underlying agreement. When the Portfolio writes a swaption, the premium received by the Portfolio is recorded as a liability and subsequently marked-to-market to reflect the current value of the swaption. When a swaption is exercised, the cost of the swap is adjusted by the amount of the premium paid or received. When a swaption expires or an unexercised swaption is closed, a gain or loss is recognized in the amount of the premium paid or received, plus the cost to close. The Portfolio's risk for purchased swaptions is limited to the premium paid. The writer of a swaption bears the risk of unfavorable changes in the preset terms of the underlying swap contract. Purchased swaptions traded over-the-counter involve risk that the issuer or counterparty will fail to perform its contractual obligations.

2 Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by Boston Management and Research (BMR), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Portfolio. The investment adviser fee is computed at an annual rate as a percentage of the Portfolio's average daily net assets as follows and is payable monthly:

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| | |
|:---|:---|
| **Average Daily Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Annual Fee Rate** |
| Up to $1 billion | &nbsp;&nbsp;&nbsp;&nbsp;0.650% |
| $1 billion but less than $2 billion | &nbsp;&nbsp;&nbsp;&nbsp;0.625% |
| $2 billion but less than $5 billion | &nbsp;&nbsp;&nbsp;&nbsp;0.600% |
| $5 billion and over | &nbsp;&nbsp;&nbsp;&nbsp;0.575% |

---

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

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For the year ended October 31, 2022, the Portfolio's investment adviser fee amounted to $7,941,172 or 0.65% of the Portfolio's average daily net assets.

Effective April 26, 2022, the Portfolio may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the "Liquidity Fund"), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment adviser fee paid by the Portfolio is reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Portfolio due to its investment in the Liquidity Fund. For the year ended October 31, 2022, the investment adviser fee paid was reduced by $62,028 relating to the Portfolio's investment in the Liquidity Fund. Prior to April 26, 2022, the Portfolio may have invested its cash in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). EVM did not receive a fee for advisory services provided to Cash Reserves Fund.

During the year ended October 31, 2022, EVM reimbursed the Portfolio $7,481 for a net realized loss due to a trading error. The amount of the reimbursement had an impact on total return of less than 0.01%.

Trustees and officers of the Portfolio who are members of EVM's or BMR's organizations receive remuneration for their services to the Portfolio out of the investment adviser fee. Trustees of the Portfolio who are not affiliated with the investment adviser may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the year ended October 31, 2022, no significant amounts have been deferred. Certain officers and Trustees of the Portfolio are officers of the above organizations.

3 Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations and including maturities and paydowns, aggregated $301,817,772 and $654,208,899, respectively, for the year ended October 31, 2022.

4 Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the Portfolio at October 31, 2022, as determined on a federal income tax basis, were as follows:

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| | |
|:---|:---|
| **Aggregate cost** | &nbsp;&nbsp;**$896765769** |
| Gross unrealized appreciation | &nbsp;&nbsp;&nbsp;&nbsp;$13365158 |
| Gross unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(141436386) |
| **Net unrealized depreciation** | &nbsp;&nbsp;**$(128071228)** |

---

5 Financial Instruments

The Portfolio may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. These financial instruments may include forward foreign currency exchange contracts, non-deliverable bond forward contracts, futures contracts and swap contracts and may involve, to a varying degree, elements of risk in excess of the amounts recognized for financial statement purposes. The notional or contractual amounts of these instruments represent the investment the Portfolio has in particular classes of financial instruments and do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. A summary of obligations under these financial instruments at October 31, 2022 is included in the Portfolio of Investments. At October 31, 2022, the Portfolio had sufficient cash and/or securities to cover commitments under these contracts.

In the normal course of pursuing its investment objective, the Potfolio is subject to the following risks:

Credit Risk: The Portfolio enters into credit default swap contracts to enhance total return and/or as a substitute for the purchase or sale of securities.

Foreign Exchange Risk: The Portfolio engages in forward foreign currency exchange contracts and cross-currency swaps to enhance total return, to seek to hedge against fluctuations in currency exchange rates and/or as a substitute for the purchase or sale of securities or currencies.

Interest Rate Risk: The Portfolio utilizes various interest rate derivatives including non-deliverable bond forward contracts, interest rate futures contracts, interest rate swaps and swaptions and cross-currency swaps to enhance total return, to seek to hedge against fluctuations in interest rates and/or to change the effective duration of its portfolio.

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

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The Portfolio enters into over-the-counter (OTC) derivatives that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Portfolio's net assets below a certain level over a certain period of time, which would trigger a payment by the Portfolio for those derivatives in a liability position. At October 31, 2022, the fair value of derivatives with credit-related contingent features in a net liability position was $24,089,075. The aggregate fair value of assets pledged as collateral by the Portfolio for such liability was $8,829,579 at October 31, 2022.

The OTC derivatives in which the Portfolio invests are subject to the risk that the counterparty to the contract fails to perform its obligations under the contract. To mitigate this risk, the Portfolio has entered into an International Swaps and Derivatives Association, Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with substantially all its derivative counterparties. An ISDA Master Agreement is a bilateral agreement between the Portfolio and a counterparty that governs certain OTC derivatives and typically contains, among other things, set-off provisions in the event of a default and/or termination event as defined under the relevant ISDA Master Agreement. Under an ISDA Master Agreement, the Portfolio may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy or insolvency. Certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event the Portfolio's net assets decline by a stated percentage or the Portfolio fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Portfolio of any net liability owed to it.

The collateral requirements for derivatives traded under an ISDA Master Agreement are governed by a Credit Support Annex to the ISDA Master Agreement. Collateral requirements are determined at the close of business each day and are typically based on changes in market values for each transaction under an ISDA Master Agreement and netted into one amount for such agreement. Generally, the amount of collateral due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of the Portfolio and/or counterparty is held in segregated accounts by the Portfolio's custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as deposits for derivatives collateral and, in the case of cash pledged by a counterparty for the benefit of the Portfolio, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Portfolio as collateral, if any, are identified as such in the Portfolio of Investments. The carrying amount of the liability for cash collateral due to brokers at October 31, 2022 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 8) at October 31, 2022.

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at October 31, 2022 was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Fair Value** |
| **Statement of Assets and Liabilities Caption** | &nbsp;&nbsp;**Credit** | &nbsp;&nbsp;**Foreign <br> Exchange** | &nbsp;&nbsp;**Interest <br> Rate** | &nbsp;&nbsp;**Total** |
| Not applicable | &nbsp;&nbsp;&nbsp;$759\* | &nbsp;&nbsp;&nbsp;$14,302,886\* | &nbsp;&nbsp;&nbsp;$42,102,733\* | &nbsp;&nbsp;&nbsp;$56406378 |
| Receivable for open forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31517957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31517957 |
| Receivable for open swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4109041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4109041 |
| Receivable for open non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853256 |
| **Total Asset Derivatives** | &nbsp;&nbsp;**$759** | &nbsp;&nbsp;**$45820843** | &nbsp;&nbsp;**$47065030** | &nbsp;&nbsp;&nbsp;**$92886632** |
| **Derivatives not subject to master netting or similar agreements** | &nbsp;&nbsp;**$759** | &nbsp;&nbsp;**$14302886** | &nbsp;&nbsp;**$42102733** | &nbsp;&nbsp;&nbsp;**$56406378** |
| **Total Asset Derivatives subject to master netting or similar agreements** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$31517957** | &nbsp;&nbsp;&nbsp;**$4962297** | &nbsp;&nbsp;&nbsp;**$36480254** |
| Not applicable | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(13086568)\* | &nbsp;&nbsp;$(72597995)\* | &nbsp;&nbsp;$(85684563) |
| Payable for open forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(20873680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20873680) |
| Payable for open swap contracts; Upfront receipts on non-centrally cleared swap contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1241236) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1241236) |
| Payable for open non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1974159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1974159) |
| **Total Liability Derivatives** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(33960248)** | &nbsp;&nbsp;**$(75813390)** | &nbsp;&nbsp;**$(109773638)** |
| **Derivatives not subject to master netting or similar agreements** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(13086568)** | &nbsp;&nbsp;**$(72597995)** | &nbsp;&nbsp;**$(85684563)** |
| **Total Liability Derivatives subject to master netting or similar agreements** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(20873680)** | &nbsp;&nbsp;**$(3215395)** | &nbsp;&nbsp;**$(24089075)** |

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\* Only the current day's variation margin on open futures contracts and centrally cleared derivatives is reported within the Statement of Assets and Liabilities as Receivable or Payable for variation margin on open futures contracts and centrally cleared derivatives, as applicable.

The Portfolio's derivative assets and liabilities at fair value by risk, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following tables present the Portfolio's derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement and net of the related collateral received by the Portfolio for such assets and pledged by the Portfolio for such liabilities as of October 31, 2022.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;**Derivative <br> Assets Subject to<br> Master Netting<br> Agreement** | &nbsp;&nbsp;&nbsp;**Derivatives <br> Available<br> for Offset** | &nbsp;&nbsp;&nbsp;**Non-cash <br> Collateral<br> Received<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Cash <br> Collateral<br> Received<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Net Amount<br> of Derivative<br> Assets<sup>(b)</sup>** |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;$5613717 | &nbsp;&nbsp;&nbsp;$(1789074) | &nbsp;&nbsp;&nbsp;$(3638683) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$185960 |
| BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4833731) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Citibank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2723570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;2680954 |
| Credit Suisse International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217304 |
| Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48844 |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2160862) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| ICBC Standard Bank plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105991) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37374 |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(924946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(268203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49014 |
| Nomura International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(519490) | &nbsp;&nbsp;&nbsp;&nbsp;(450000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21980 |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;11209883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5991722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;5218161 |
| State Street Bank and Trust Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5420322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4044158) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(718382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657782 |

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;**Derivative <br> Assets Subject to<br> Master Netting<br> Agreement** | &nbsp;&nbsp;&nbsp;**Derivatives <br> Available<br> for Offset** | &nbsp;&nbsp;&nbsp;**Non-cash <br> Collateral<br> Received<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Cash <br> Collateral<br> Received<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Net Amount<br> of Derivative<br> Assets<sup>(b)</sup>** |
| UBS AG | &nbsp;&nbsp;&nbsp;$1521881 | &nbsp;&nbsp;&nbsp;&nbsp;$(146768) | &nbsp;&nbsp;&nbsp;$(1065353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$309760 |
|  | &nbsp;&nbsp;&nbsp;**$36480254** | &nbsp;&nbsp;&nbsp;**$(20039868)** | &nbsp;&nbsp;&nbsp;**$(6563253)** | &nbsp;&nbsp;&nbsp;**$(450000)** | &nbsp;&nbsp;&nbsp;**$9427133** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;**Derivative <br> Liabilities Subject to<br> Master Netting<br> Agreement** | &nbsp;&nbsp;&nbsp;**Derivatives <br> Available<br> for Offset** | &nbsp;&nbsp;&nbsp;**Non-cash <br> Collateral<br> Pledged<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Cash <br> Collateral<br> Pledged<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Net Amount<br> of Derivative<br> Liabilities<sup>(c)</sup>** |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;$(1789074) | &nbsp;&nbsp;&nbsp;$1789074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Barclays Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48833) |
| BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7203199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833731 | &nbsp;&nbsp;&nbsp;&nbsp;2183712 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(185756) |
| Citibank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3651761) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160862 | &nbsp;&nbsp;&nbsp;&nbsp;1490899 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| HSBC Bank USA, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13109) |
| ICBC Standard Bank plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105991) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(924946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Societe Generale | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(126898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(126898) |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5991722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| State Street Bank and Trust Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4044158) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4044158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(146768) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;**$(24089075)** | &nbsp;&nbsp;&nbsp;**$20039868** | &nbsp;&nbsp;&nbsp;**$3674611** | &nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;**$(374596)** |

---

<sup>(a)</sup> In some instances, the total collateral received and/or pledged may be more than the amount shown due to overcollateralization.

<sup>(b)</sup> Net amount represents the net amount due from the counterparty in the event of default.

<sup>(c)</sup> Net amount represents the net amount payable to the counterparty in the event of default.

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations by risk exposure for the year ended October 31, 2022 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Statement of Operations Caption** | &nbsp;&nbsp;**Credit** | &nbsp;&nbsp;**Foreign <br> Exchange** | &nbsp;&nbsp;**Interest <br> Rate** | &nbsp;&nbsp;**Total** |
| Net realized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment transactions | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(923502) | &nbsp;&nbsp;&nbsp;&nbsp;$(923502) |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5282556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5282556 |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;69265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(55528274) | &nbsp;&nbsp;&nbsp;&nbsp;(55459009) |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(21520267) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(21520267) |
| &nbsp;&nbsp;&nbsp;Non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(21079989) | &nbsp;&nbsp;&nbsp;&nbsp;(21079989) |
| **Total** | &nbsp;&nbsp;**$69265** | &nbsp;&nbsp;**$(21520267)** | &nbsp;&nbsp;**$(72249209)** | &nbsp;&nbsp;**$(93700211)** |
| Change in unrealized appreciation (depreciation): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$912553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$912553 |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(320378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(320378) |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;19069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4988242 |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8920609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8920609 |
| &nbsp;&nbsp;&nbsp;Non-deliverable bond forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506289 |
| **Total** | &nbsp;&nbsp;**$19069** | &nbsp;&nbsp;&nbsp;**$8920609** | &nbsp;&nbsp;&nbsp;**$6067637** | &nbsp;&nbsp;**$15007315** |

---

The average notional cost of futures contracts and average notional amounts of other derivative contracts outstanding during the year ended October 31, 2022, which are indicative of the volume of these derivative types, were approximately as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures <br> Contracts — Short** | &nbsp;&nbsp;&nbsp;&nbsp;**Forward <br> Foreign Currency<br> Exchange Contracts\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Non-Deliverable <br> Bond Forward<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Purchased <br> Swaptions** | &nbsp;&nbsp;&nbsp;&nbsp;**Swap <br> Contracts** |
| $35150000 | &nbsp;&nbsp;&nbsp;&nbsp;$3077607000 | &nbsp;&nbsp;&nbsp;&nbsp;$137538000 | &nbsp;&nbsp;&nbsp;&nbsp;$9192000 | &nbsp;&nbsp;&nbsp;&nbsp;$1688215000 |

---

\* The average notional amount for forward foreign currency exchange contracts is based on the absolute value of notional amounts of currency purchased and currency sold.

6 Line of Credit

The Portfolio participates with other portfolios and funds managed by EVM and its affiliates in a $725 million unsecured line of credit agreement with a group of banks, which is in effect through October 24, 2023. In connection with the renewal of the agreement on October 25, 2022, the borrowing limit was decreased from $800 million. Borrowings are made by the Portfolio solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Portfolio based on its borrowings at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. Also in connection with the renewal of the agreement, an arrangement fee totaling $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Portfolio, it may be unable to borrow some or all of its requested amounts at any particular time. The Portfolio did not have any significant borrowings or allocated fees during the year ended October 31, 2022.

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

7 Investments in Affiliated Funds

At October 31, 2022, the value of the Portfolio's investment in funds that may be deemed to be affiliated was $34,198,985, which represents 3.6% of the Portfolio's net assets. Transactions in affiliated funds by the Portfolio for the year ended October 31, 2022 were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Value, <br> beginning<br> of period** | **Purchases** | **Sales <br> proceeds** | **Net <br> realized<br> gain (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Value, end<br> of period** | **Dividend <br> income** | **Units/Shares, <br> end of period** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |
| Cash Reserves Fund | $7541545 | $533888639 | $(541434768) | $4584 | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$47112 | &nbsp;&nbsp; — |
| Liquidity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;530770839 | &nbsp;&nbsp;&nbsp;(496571854) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;34198985 | &nbsp;&nbsp;&nbsp;704785 | 34198985 |
| **Total** |  |  |  | **$4584** | **$—** | **$34198985** | **$751897** |  |

---

8 Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 – quoted prices
in active markets for identical investments

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

• Level 3
– significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At October 31, 2022, the hierarchy of inputs used in valuing the Portfolio's investments and open derivative instruments, which are carried at value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Foreign Corporate Bonds | &nbsp;&nbsp;$— | &nbsp;&nbsp;$26215235 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$26215235 |
| Loan Participation Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;29380678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29380678 |
| Sovereign Government Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549009825 | &nbsp;&nbsp;&nbsp;&nbsp;39170230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588180055 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Fund | &nbsp;&nbsp;&nbsp;&nbsp;34198985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34198985 |
| &nbsp;&nbsp;&nbsp;Sovereign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79349464 | &nbsp;&nbsp;&nbsp;&nbsp; 2887584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82237048 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37616465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37616465 |
| **Total Investments** | &nbsp;&nbsp;**$34198985** | &nbsp;&nbsp;**$692190989** | &nbsp;&nbsp;**$71438492** | &nbsp;&nbsp;**$797828466** |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;$45820843 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$45820843 |
| Non-Deliverable Bond Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 853256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 853256 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; 222168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222168 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45990365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45990365 |
| **Total** | &nbsp;&nbsp;**$34421153** | &nbsp;&nbsp;**$784855453** | &nbsp;&nbsp;**$71438492** | &nbsp;&nbsp;**$890715098** |
| **Liability Description** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(33960248) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(33960248) |
| Non-Deliverable Bond Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1974159) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1974159) |

---

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liability Description (continued)** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Swap Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(73839231) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(73839231) |
| **Total** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(109773638)** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(109773638)** |

---

The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Loan <br> Participation Notes** | &nbsp;&nbsp;**Sovereign <br> Government<br> Bonds** | &nbsp;&nbsp;**Sovereign <br> Government<br> Securities** | &nbsp;&nbsp;**Total** |
| **Balance as of October 31, 2021** | &nbsp;&nbsp;**$39020280** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$—** | &nbsp;&nbsp;&nbsp;**$39020280** |
| Realized gains (losses) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (756428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (653303) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1409731) |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1439386) | &nbsp;&nbsp;&nbsp;&nbsp;(102233847) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (925450) | &nbsp;&nbsp;&nbsp;&nbsp;(104598683) |
| Cost of purchases | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12624653 | &nbsp;&nbsp;&nbsp;&nbsp;3708424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16333077 |
| Proceeds from sales, including return of capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7443788) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2785765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10229553) |
| Accrued discount (premium) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1046208 | &nbsp;&nbsp;&nbsp;&nbsp; 104610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150818 |
| Transfers to Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131172284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131172284 |
| Transfers from Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **Balance as of October 31, 2022** | &nbsp;&nbsp;**$29380678** | &nbsp;&nbsp;&nbsp;**$39170230** | &nbsp;&nbsp;**$2887584** | &nbsp;&nbsp;&nbsp;**$71438492** |
| **Change in net unrealized appreciation (depreciation) on investments still held as of October 31, 2022** | &nbsp;&nbsp;**$(1888764)** | &nbsp;&nbsp;**$(102159577)** | &nbsp;&nbsp;**$(925450)** | &nbsp;&nbsp;**$(104973791)** |

---

The following is a summary of quantitative information about significant unobservable valuation inputs for Level 3 investments held as of October 31, 2022:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type of Investment** | &nbsp;&nbsp;**Fair Value as of<br> October 31, 2022** | &nbsp;&nbsp;**Valuation Technique** | &nbsp;&nbsp;**Unobservable Input** | &nbsp;&nbsp;**Input** | &nbsp;&nbsp;&nbsp;&nbsp;**Impact to<br> Valuation from an<br> Increase to Input\*** |
| Loan Participation Notes | &nbsp;&nbsp;$29380678 | &nbsp;&nbsp;Matrix Pricing | &nbsp;&nbsp;Adjusted Credit Spread to the Central Bank of Uzbekistan Quoted Policy Rate | &nbsp;&nbsp; 3.59% | &nbsp;&nbsp;&nbsp;&nbsp;Decrease |
| Sovereign Government Bonds | &nbsp;&nbsp;&nbsp;&nbsp;39170230 | &nbsp;&nbsp;Third Party Indication of Value | &nbsp;&nbsp;Foreign Currency Exchange Rate | &nbsp;&nbsp;&nbsp;40.20 UAH/USD | &nbsp;&nbsp;&nbsp;&nbsp;Decrease |
| Sovereign Government Securities | &nbsp;&nbsp;&nbsp;&nbsp; 2887584 | &nbsp;&nbsp;Third Party Indication of Value | &nbsp;&nbsp;Foreign Currency Exchange Rate | &nbsp;&nbsp;&nbsp;40.20 UAH/USD | &nbsp;&nbsp;&nbsp;&nbsp;Decrease |

---

\* Represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect.

9 Risks and Uncertainties

#### Risks Associated with Foreign Investments
Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country. There may be less publicly available information about foreign issuers because they may not be subject to reporting practices, requirements or regulations comparable to those to which United States companies are subject. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States. Trading in foreign markets typically involves higher expense than trading in the United States. The Portfolio may have difficulties enforcing its legal or contractual rights in a foreign country. Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates.

------

[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Emerging Markets Local Income Portfolio

October 31, 2022

Notes to Financial Statements — continued

------

Emerging market securities often involve greater risks than developed market securities. Investment markets within emerging market countries are typically smaller, less liquid, less developed and more volatile than those in more developed markets like the United States, and may be focused in certain economic sectors. The information available about an emerging market issuer may be less reliable than for comparable issuers in more developed capital markets. Governmental actions can have a significant effect on the economic conditions in emerging market countries. It may be more difficult to make a claim or obtain a judgment in the courts of these countries than it is in the United States. The possibility of fraud, negligence, undue influence being exerted by an issuer or refusal to recognize ownership exists in some emerging markets. Disruptions due to work stoppages and trading improprieties in foreign securities markets have caused such markets to close. Emerging market securities are also subject to speculative trading, which contributes to their volatility.

Economic data as reported by sovereign entities may be delayed, inaccurate or fraudulent. In the event of a default by a sovereign entity, there are typically no assets to be seized or cash flows to be attached. Furthermore, the willingness or ability of a sovereign entity to restructure defaulted debt may be limited. Therefore, losses on sovereign defaults may far exceed the losses from the default of a similarly rated U.S. debt issuer.

On February 24, 2022, Russia launched an invasion of Ukraine, following rising tensions over the buildup of Russian troops along the Ukrainian border and joint military exercises by Russia with Belarus. In response to the invasion, many countries, including the U.S., have imposed economic sanctions on Russian governmental institutions, Russian entities, and Russian individuals. The conflict and sanctions have had a negative impact on the Russian economy, on the Russian currency, and on investments having exposure to Russia, Belarus and Ukraine. The conflict could also have a significant effect on investments outside the region. The duration and extent of the military conflict with Russia and the related sanctions cannot be predicted at this time.

#### LIBOR Transition Risk
Certain instruments held by the Portfolio may pay an interest rate based on the London Interbank Offered Rate ("LIBOR"), which is the average offered rate for various maturities of short-term loans between certain major international banks. LIBOR is used throughout global banking and financial industries to determine interest rates for a variety of financial instruments (such as debt instruments and derivatives) and borrowing arrangements. The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR settings on December 31, 2021, and is expected to cease publishing the remaining LIBOR settings on June 30, 2023. Although the transition process away from LIBOR has become increasingly well-defined, the impact on certain debt securities, derivatives and other financial instruments that utilize LIBOR remains uncertain. The phase-out of LIBOR may result in, among other things, increased volatility or illiquidity in markets for instruments based on LIBOR and changes in the value of such instruments.

#### Pandemic Risk
An outbreak of respiratory disease caused by a novel coronavirus was first detected in China in late 2019 and subsequently spread internationally. This coronavirus has resulted in closing borders, enhanced health screenings, changes to healthcare service preparation and delivery, quarantines, cancellations, disruptions to supply chains and customer activity, as well as general concern and uncertainty. Health crises caused by outbreaks of disease, such as the coronavirus outbreak, may exacerbate other pre-existing political, social and economic risks and disrupt normal market conditions and operations. The impact of this outbreak has negatively affected the worldwide economy, as well as the economies of individual countries and industries, and could continue to affect the market in significant and unforeseen ways. Other epidemics and pandemics that may arise in the future may have similar effects. Any such impact could adversely affect the Portfolio's performance, or the performance of the securities in which the Portfolio invests.

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Emerging Markets Local Income Portfolio

October 31, 2022

Report of Independent Registered Public Accounting Firm

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To the Trustees and Investors of Emerging Markets Local Income Portfolio:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Emerging Markets Local Income Portfolio (the "Portfolio"), including the portfolio of investments, as of October 31, 2022, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Portfolio as of October 31, 2022, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Portfolio is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Portfolio's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2022, by correspondence with the custodian, brokers and selling or agent banks; when replies were not received from brokers and selling or agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP<br> Boston, Massachusetts<br> December 29, 2022

We have served as the auditor of one or more Eaton Vance investment companies since 1959.

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Board of Trustees' Contract Approval

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Overview of the Contract Review Process

The Investment Company Act of 1940, as amended (the "1940 Act"), provides, in substance, that the investment advisory agreement between a fund and its investment adviser will continue in effect from year-to-year only if its continuation is approved on an annual basis by a vote of the fund's board of trustees, including a majority of the trustees who are not "interested persons" of the fund ("independent trustees"), cast in person at a meeting called for the purpose of considering such approval.

At a meeting held on June 8, 2022, the Boards of Trustees/Directors (collectively, the "Board") that oversee the registered investment companies advised by Eaton Vance Management or its affiliate, Boston Management and Research (the "Eaton Vance Funds"), including a majority of the independent trustees (the "Independent Trustees"), voted to approve the continuation of existing investment advisory agreements and sub-advisory agreements<sup>1</sup> for each of the Eaton Vance Funds for an additional one-year period. The Board relied upon the affirmative recommendation of its Contract Review Committee, which is a committee exclusively comprised of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by the adviser and sub-adviser to each of the Eaton Vance Funds (including information specifically requested by the Board) for a series of formal meetings held between April and June 2022. Members of the Contract Review Committee also considered information received at prior meetings of the Board and its committees, to the extent such information was relevant to the Contract Review Committee's annual evaluation of the investment advisory agreements and sub-advisory agreements.

In connection with its evaluation of the investment advisory agreements and sub-advisory agreements, the Board considered various information relating to the Eaton Vance Funds. This included information applicable to all or groups of Eaton Vance Funds, which is referenced immediately below, and information applicable to the particular Eaton Vance Fund covered by this report (additional fund-specific information is referenced below under "Results of the Contract Review Process"). (For funds that invest through one or more underlying portfolios, references to "each fund" in this section may include information that was considered at the portfolio-level.)

*Information about Fees, Performance and Expenses*

• A report from an independent data provider comparing advisory and other fees paid by each fund to such fees paid by comparable funds, as identified by the independent data provider ("comparable funds");

• A report from an independent data provider comparing each fund's total expense ratio (and its components) to those of comparable funds;

• A report from an independent data provider comparing the investment performance of each fund (including, as relevant, total return data, income data, Sharpe ratios and information ratios) to the investment performance of comparable funds and, as applicable, benchmark indices, over various time periods;

• In certain instances, data regarding investment performance relative to customized groups of peer funds and blended indices identified by the adviser in consultation with the Portfolio Management Committee of the Board (a committee exclusively comprised of Independent Trustees);

• Comparative information concerning the fees charged and services provided by the adviser and sub-adviser to each fund in managing other accounts (which may include other mutual funds, collective investment funds and institutional accounts) using investment strategies and techniques similar to those used in managing such fund(s), if any;

• Profitability analyses with respect to the adviser and sub-adviser to each of the funds;

*Information about Portfolio Management and Trading*

• Descriptions of the investment management services provided to each fund, as well as each of the funds' investment strategies and policies;

• The procedures and processes used to determine the value of fund assets, including, when necessary, the determination of "fair value" and actions taken to monitor and test the effectiveness of such procedures and processes;

• Information about the policies and practices of each fund's adviser and sub-adviser with respect to trading, including their processes for seeking best execution of portfolio transactions;

• Information about the allocation of brokerage transactions and the benefits, if any, received by the adviser and sub-adviser to each fund as a result of brokerage allocation, including, as applicable, information concerning the acquisition of research through client commission arrangements and policies with respect to "soft dollars";

• Data relating to the portfolio turnover rate of each fund and related information regarding active management in the context of particular strategies;

*Information about each Adviser and Sub-adviser*

• Reports detailing the financial results and condition of the adviser and sub-adviser to each fund;

• Information regarding the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and, for portfolio managers and certain other investment professionals, information relating to their responsibilities with respect to managing other mutual funds and investment accounts, as applicable;

<sup>1</sup> Not all Eaton Vance Funds have entered into a sub-advisory agreement with a sub-adviser. Accordingly, references to "sub-adviser" or "sub-advisory agreement" in this "Overview" section may not be applicable to the particular Eaton Vance Fund covered by this report. Following the "Overview" section, further information regarding the Board's evaluation of a fund's contractual arrangements is included under the "Results of the Contract Review Process" section.

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Board of Trustees' Contract Approval — continued

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• Information regarding the adviser's and its parent company's (Morgan Stanley's) efforts to retain and attract talented investment professionals, including in the context of a particularly competitive marketplace for talent, as well as the ongoing unique environment presented by hybrid, remote and other alternative work arrangements;

• The Code of Ethics of the adviser and its affiliates and the sub-adviser of each fund, together with information relating to compliance with, and the administration of, such codes;

• Policies and procedures relating to proxy voting, including regular reporting with respect to fund proxy voting activities;

• Information regarding the handling of corporate actions and class actions, as well as information regarding litigation and other regulatory matters;

• Information concerning the resources devoted to compliance efforts undertaken by the adviser and its affiliates and the sub-adviser of each fund, if any, including descriptions of their various compliance programs and their record of compliance;

• Information concerning the business continuity and disaster recovery plans of the adviser and its affiliates and the sub-adviser of each fund, if any;

• A description of Eaton Vance Management's and Boston Management and Research's oversight of sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters;

*Other Relevant Information*

• Information regarding ongoing initiatives to further integrate and harmonize, where applicable, the investment management and other departments of the adviser and its affiliates with the overall investment management infrastructure of Morgan Stanley, in light of Morgan Stanley's acquisition of Eaton Vance on March 1, 2021;

• Information concerning the nature, cost and character of the administrative and other non-investment advisory services provided by Eaton Vance Management and its affiliates;

• Information concerning oversight of the relationship with the custodian, subcustodians, fund accountants, and other third-party service providers by the adviser and/or administrator to each of the funds;

• Information concerning efforts to implement policies and procedures with respect to various new regulations applicable to the funds, including Rule 12d1-4 (the Fund-of-Funds Rule), Rule 18f-4 (the Derivatives Rule) and Rule 2a-5 (the Fair Valuation Rule);

• For an Eaton Vance Fund structured as an exchange-listed closed-end fund, information concerning the benefits of the closed-end fund structure, as well as, where relevant, the closed-end fund's market prices (including as compared to the closed-end fund's net asset value (NAV)), trading volume data, continued use of auction preferred shares (where applicable), distribution rates and other relevant matters;

• The risks which the adviser and/or its affiliates incur in connection with the management and operation of the funds, including, among others, litigation, regulatory, entrepreneurial, and other business risks (and the associated costs of such risks); and

• The terms of each investment advisory agreement and sub-advisory agreement.

During the various meetings of the Board and its committees over the course of the year leading up to the June 8, 2022 meeting, the Trustees received information from portfolio managers and other investment professionals of the advisers and sub-advisers of the funds regarding investment and performance matters, and considered various investment and trading strategies used in pursuing the funds' investment objectives. The Trustees also received information regarding risk management techniques employed in connection with the management of the funds. The Board and its committees evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management, Boston Management and Research and fund sub-advisers, with respect to such matters. In addition to the formal meetings of the Board and its committees, the Independent Trustees held regular teleconferences to discuss, among other topics, matters relating to the continuation of investment advisory agreements and sub-advisory agreements.

The Contract Review Committee was advised throughout the contract review process by Goodwin Procter LLP, independent legal counsel for the Independent Trustees. The members of the Contract Review Committee, with the advice of such counsel, exercised their own business judgment in determining the material factors to be considered in evaluating each investment advisory agreement and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment advisory agreement and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each investment advisory agreement and sub-advisory agreement. In evaluating each investment advisory agreement and sub-advisory agreement, including the fee structures and other terms contained in such agreements, the members of the Contract Review Committee were also informed by multiple years of analysis and discussion with the adviser and sub-adviser to each of the Eaton Vance Funds.

Results of the Contract Review Process

Based on its consideration of the foregoing, and such other information it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement between Eaton Vance Emerging Markets Local Income Fund (the "Fund") and Eaton Vance Management ("EVM"), as well as the investment advisory agreement between Emerging Markets Local Income Portfolio (the "Portfolio"), the portfolio in which the Fund invests, and Boston Management and Research ("BMR") (EVM, with respect to the Fund, and BMR, with respect to the Portfolio, are each referred to herein as the "Adviser"), including their respective fee structures, are in the interests of shareholders and, therefore, recommended to the Board approval of each agreement. Based on the recommendation of the Contract Review Committee, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory agreements for the Fund and the Portfolio.

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Board of Trustees' Contract Approval — continued

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*Nature, Extent and Quality of Services*

In considering whether to approve the investment advisory agreements for the Fund and the Portfolio, the Board evaluated the nature, extent and quality of services provided to the Fund and the Portfolio by the applicable Adviser.

The Board considered each Adviser's management capabilities and investment processes in light of the types of investments held by the Fund and the Portfolio, including the education, experience and number of investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Fund and the Portfolio, including recent changes to such personnel. The Board considered each Adviser's expertise with respect to emerging markets and in-house research capabilities. The Board also took into account the resources dedicated to portfolio management and other services, the compensation methods of each Adviser and other factors, including the reputation and resources of the Adviser to recruit and retain highly qualified research, advisory and supervisory investment professionals. In addition, the Board considered the time and attention devoted to the Eaton Vance Funds, including the Fund and the Portfolio, by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the portfolio management and operations of the Fund and the Portfolio, including the provision of administrative services. The Board also considered the business-related and other risks to which each Adviser or its affiliates may be subject in managing the Fund and the Portfolio.

The Board noted that under the terms of the investment advisory agreement of the Fund, EVM may invest assets of the Fund directly in securities, for which it would receive a fee, or in the Portfolio, for which it receives no separate fee but for which BMR receives an advisory fee from the Portfolio. The Trustees considered the potential benefits to the Fund of the ability to make direct investments, such as an improved ability to: gain exposure to sectors of the market EVM believes may not be represented or underrepresented by the Portfolio; to hedge certain Portfolio exposures; and/or to otherwise manage the exposures of the Fund.

The Board considered the compliance programs of each Adviser and relevant affiliates thereof. The Board considered compliance and reporting matters regarding, among other things, personal trading by investment professionals, disclosure of portfolio holdings, late trading, frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also considered the responses of each Adviser and its affiliates to requests in recent years from regulatory authorities, such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

The Board considered other administrative services provided or overseen by Eaton Vance Management and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large fund complex offering exposure to a variety of asset classes and investment disciplines, as well as the ability, in many cases, to exchange an investment among different funds without incurring additional sales charges.

After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by each Adviser, taken as a whole, are appropriate and consistent with the terms of the applicable investment advisory agreement.

*Fund Performance*

The Board compared the Fund's investment performance to that of comparable funds identified by an independent data provider (the peer group), as well as an appropriate benchmark index. The Board's review included comparative performance data with respect to the Fund for the one-, three-, five- and ten-year periods ended December 31, 2021. In this regard, the Board noted that the performance of the Fund was higher than the median performance of the Fund's peer group for the three-year period. The Board also noted that the performance of the Fund was higher than its benchmark index for the three-year period. The Board concluded that the performance of the Fund was satisfactory.

*Management Fees and Expenses*

The Board considered contractual fee rates payable by the Portfolio and by the Fund for advisory and administrative services (referred to collectively as "management fees"). As part of its review, the Board considered the Fund's management fees and total expense ratio for the one-year period ended December 31, 2021, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also received and considered information about the services offered and the fee rates charged by the Adviser to other types of accounts with investment objectives and strategies that are substantially similar to and/or managed in a similar investment style as the Portfolio. In this regard, the Board received information about the differences in the nature and scope of services the Adviser provides to the Portfolio as compared to other types of accounts and the material differences in compliance, reporting and other legal burdens and risks to the Adviser as between the Portfolio and other types of accounts. The Board also considered certain factors identified by management in response to inquiries from the Contract Review Committee regarding the Fund's total expense ratio relative to comparable funds.

After considering the foregoing information, and in light of the nature, extent and quality of the services provided by each Adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.

*Profitability and "Fall-Out" Benefits*

The Board considered the level of profits realized by each Adviser and relevant affiliates thereof in providing investment advisory and administrative services to the Fund, to the Portfolio and to all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to marketing support or other payments by each Adviser and its affiliates to third parties in respect of distribution or other services.

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Board of Trustees' Contract Approval — continued

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The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by each Adviser and its affiliates are deemed not to be excessive.

The Board also considered direct or indirect fall-out benefits received by each Adviser and its affiliates in connection with their respective relationships with the Fund and the Portfolio, including the benefits of research services that may be available to each Adviser as a result of securities transactions effected for the Fund and the Portfolio and other investment advisory clients.

*Economies of Scale*

In reviewing management fees and profitability, the Board also considered the extent to which the applicable Adviser and its affiliates, on the one hand, and the Fund and the Portfolio, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund and the Portfolio increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from economies of scale, if any, with respect to the management of any specific fund or group of funds. The Board reviewed data summarizing the increases and decreases in the assets of the Fund and of all Eaton Vance Funds as a group over various time periods, and evaluated the extent to which the total expense ratio of the Fund and the profitability of each Adviser and its affiliates may have been affected by such increases or decreases. Based upon the foregoing, the Board concluded that the Fund currently shares in the benefits from economies of scale, if any, when they are realized by the Adviser. The Board also concluded that the structure of the advisory fees, which include breakpoints at several asset levels, will allow the Fund and the Portfolio to continue to benefit from any economies of scale in the future.

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Liquidity Risk Management Program

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The Fund has implemented a written liquidity risk management program (Program) and related procedures to manage its liquidity in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (Liquidity Rule). The Liquidity Rule defines "liquidity risk" as the risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of the remaining investors' interests in the fund. The Fund's Board of Trustees/Directors has designated the investment adviser to serve as the administrator of the Program and the related procedures. The administrator has established a Liquidity Risk Management Oversight Committee (Committee) to perform the functions necessary to administer the Program. As part of the Program, the administrator is responsible for identifying illiquid investments and categorizing the relative liquidity of the Fund's investments in accordance with the Liquidity Rule. Under the Program, the administrator assesses, manages, and periodically reviews the Fund's liquidity risk, and is responsible for making certain reports to the Fund's Board of Trustees/Directors and the Securities and Exchange Commission (SEC) regarding the liquidity of the Fund's investments, and to notify the Board of Trustees/Directors and the SEC of certain liquidity events specified in the Liquidity Rule. The liquidity of the Fund's portfolio investments is determined based on a number of factors including, but not limited to, relevant market, trading and investment-specific considerations under the Program.

At a meeting of the Fund's Board of Trustees/Directors on June 7, 2022, the Committee provided a written report to the Fund's Board of Trustees/Directors pertaining to the operation, adequacy, and effectiveness of implementation of the Program, as well as the operation of the highly liquid investment minimum (if applicable) for the period January 1, 2021 through December 31, 2021 (Review Period). The Program operated effectively during the Review Period, supporting the administrator's ability to assess, manage and monitor Fund liquidity risk, including during periods of market volatility and net redemptions. During the Review Period, the Fund met redemption requests on a timely basis.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to the Fund's prospectus for more information regarding the Fund's exposure to liquidity risk and other principal risks to which an investment in the Fund may be subject.

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Management and Organization

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**Fund Management. The Trustees of Eaton Vance Mutual Funds Trust (the Trust) and Emerging Markets Local Income Portfolio (the Portfolio) are responsible for the overall management and supervision of the Trust's and the Portfolio's affairs. The Board members and officers of the Trust and the Portfolio are listed below. Except as indicated, each individual has held the office shown or other offices in the same company for the last five years. Board members hold indefinite terms of office. Each Trustee holds office until his or her successor is elected and qualified, subject to a prior death, resignation, retirement, disqualification or removal. Under the terms of the Fund's and the Portfolio's current Trustee retirement policy, an Independent Trustee must retire and resign as a Trustee on the earlier of: (i) the first day of July following his or her 74th birthday; or (ii), with limited exception, December 31st of the 20th year in which he or she has served as a Trustee. However, if such retirement and resignation would cause the Fund and the Portfolio to be out of compliance with Section 16 of the 1940 Act or any other regulations or guidance of the SEC, then such retirement and resignation will not become effective until such time as action has been taken for the Fund and the Portfolio to be in compliance therewith. The "noninterested Trustees" consist of those Trustees who are not "interested persons" of the Trust and the Portfolio, as that term is defined under the 1940 Act. The business address of each Board member and officer is Two International Place, Boston, Massachusetts 02110. As used below, "BMR" refers to Boston Management and Research, "EVC" refers to Eaton Vance Corp., "EV" refers to EV LLC, "EVM" refers to Eaton Vance Management and "EVD" refers to Eaton Vance Distributors, Inc. EV is the trustee of each of EVM and BMR. Effective March 1, 2021, each of EVM, BMR, EVD and EV are indirect, wholly owned subsidiaries of Morgan Stanley. Each officer affiliated with EVM may hold a position with other EVM affiliates that is comparable to his or her position with EVM listed below. Each Trustee oversees 135 funds (with the exception of Mr. Bowser who oversees 110 funds) in the Eaton Vance fund complex (including both funds and portfolios in a hub and spoke structure).**

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| | | | |
|:---|:---|:---|:---|
| **Name and Year of Birth** | &nbsp;&nbsp;**Trust/Portfolio <br> Position(s)** | &nbsp;&nbsp;**Length of Service** | &nbsp;&nbsp;**Principal Occupation(s) and Other Directorships<br> During Past Five Years and Other Relevant Experience** |
| Interested Trustee | Interested Trustee | Interested Trustee | Interested Trustee |
| Thomas E. Faust Jr.<br> 1958 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2007 | &nbsp;&nbsp;&nbsp;Chairman of Morgan Stanley Investment Management, Inc. (MSIM), member of the Board of Managers and President of EV (since 2021), Chief Executive Officer of EVM and BMR. Formerly, Chairman, Chief Executive Officer (2007-2021) and President (2006-2021) of EVC and Director of EVD (2007-2022). Mr. Faust is an interested person because of his positions with MSIM, BMR, EVM and EV, which are affiliates of the Trust and the Portfolio.<br> **Other Directorships. Formerly, Director of EVC (2007-2021) and Hexavest Inc. (investment management firm) (2012-2021).** |
| Noninterested Trustees | Noninterested Trustees | Noninterested Trustees | Noninterested Trustees |
| Alan C. Bowser<sup>(1)</sup><br> 1962 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2022 | &nbsp;&nbsp;&nbsp;Chief Diversity Officer, Partner and a member of the Operating Committee, and formerly served as Senior Advisor on Diversity and Inclusion for the firm's chief executive officer, Co-Head of the Americas Region, and Senior Client Advisor of Bridgewater Associates, an asset management firm (2011- present).<br> **Other Directorships.** None. |
| Mark R. Fetting<br> 1954 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2016 | &nbsp;&nbsp;&nbsp;Private investor. Formerly held various positions at Legg Mason, Inc. (investment management firm) (2000-2012), including President, Chief Executive Officer, Director and Chairman (2008-2012), Senior Executive Vice President (2004-2008) and Executive Vice President (2001-2004). Formerly, President of Legg Mason family of funds (2001-2008). Formerly, Division President and Senior Officer of Prudential Financial Group, Inc. and related companies (investment management firm) (1991-2000).<br> **Other Directorships.** None. |
| Cynthia E. Frost<br> 1961 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2014 | &nbsp;&nbsp;&nbsp;Private investor. Formerly, Chief Investment Officer of Brown University (university endowment) (2000-2012). Formerly, Portfolio Strategist for Duke Management Company (university endowment manager) (1995-2000). Formerly, Managing Director, Cambridge Associates (investment consulting company) (1989-1995). Formerly, Consultant, Bain and Company (management consulting firm) (1987- 1989). Formerly, Senior Equity Analyst, BA Investment Management Company (1983-1985).<br> **Other Directorships.** None. |
| George J. Gorman<br> 1952 | &nbsp;&nbsp;&nbsp;Chairperson of the<br> Board and Trustee | &nbsp;&nbsp;&nbsp;Since 2021<br> (Chairperson) and 2014 (Trustee) | &nbsp;&nbsp;&nbsp;Principal at George J. Gorman LLC (consulting firm). Formerly, Senior Partner at Ernst & Young LLP (a registered public accounting firm) (1974-2009).<br> **Other Directorships.** None. |

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Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Management and Organization — continued

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| | | | |
|:---|:---|:---|:---|
| **Name and Year of Birth** | &nbsp;&nbsp;**Trust/Portfolio <br> Position(s)** | &nbsp;&nbsp;**Length of Service** | &nbsp;&nbsp;**Principal Occupation(s) and Other Directorships<br> During Past Five Years and Other Relevant Experience** |
| Noninterested Trustees (continued) | Noninterested Trustees (continued) | Noninterested Trustees (continued) | Noninterested Trustees (continued) |
| Valerie A. Mosley<br> 1960 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2014 | &nbsp;&nbsp;&nbsp;Chairwoman and Chief Executive Officer of Valmo Ventures (a consulting and investment firm). Founder of Upward Wealth, Inc., dba BrightUp, a fintech platform. Formerly, Partner and Senior Vice President, Portfolio Manager and Investment Strategist at Wellington Management Company, LLP (investment management firm) (1992-2012). Formerly, Chief Investment Officer, PG Corbin Asset Management (1990-1992). Formerly worked in institutional corporate bond sales at Kidder Peabody (1986-1990).<br> **Other Directorships.** Director of DraftKings, Inc. (digital sports entertainment and gaming company) (since September 2020). Director of Envestnet, Inc. (provider of intelligent systems for wealth management and financial wellness) (since 2018). Formerly, Director of Dynex Capital, Inc. (mortgage REIT) (2013-2020) and Director of Groupon, Inc. (e-commerce provider) (2020-2022). |
| Keith Quinton<br> 1958 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2018 | &nbsp;&nbsp;&nbsp;Private investor, researcher and lecturer. Formerly, Independent Investment Committee Member at New Hampshire Retirement System (2017-2021). Formerly, Portfolio Manager and Senior Quantitative Analyst at Fidelity Investments (investment management firm) (2001-2014).<br> **Other Directorships.** Formerly, Director (2016-2021) and Chairman (2019-2021) of New Hampshire Municipal Bond Bank. |
| Marcus L. Smith<br> 1966 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2018 | &nbsp;&nbsp;&nbsp;Private investor and independent corporate director. Formerly, Chief Investment Officer, Canada (2012-2017), Chief Investment Officer, Asia (2010-2012), Director of Asian Research (2004-2010) and portfolio manager (2001-2017) at MFS Investment Management (investment management firm).<br> **Other Directorships.** Director of First Industrial Realty Trust, Inc. (an industrial REIT) (since 2021). Director of MSCI Inc. (global provider of investment decision support tools) (since 2017). Formerly, Director of DCT Industrial Trust Inc. (logistics real estate company) (2017-2018). |
| Susan J. Sutherland<br> 1957 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2015 | &nbsp;&nbsp;&nbsp;Private investor. Director of Ascot Group Limited and certain of its subsidiaries (insurance and reinsurance) (since 2017). Formerly, Director of Hagerty Holding Corp. (insurance) (2015-2018) and Montpelier Re Holdings Ltd. (insurance and reinsurance) (2013-2015). Formerly, Associate, Counsel and Partner at Skadden, Arps, Slate, Meagher & Flom LLP (law firm) (1982-2013).<br> **Other Directorships.** Director of Kairos Acquisition Corp. (insurance/InsurTech acquisition company) (since 2021). |
| Scott E. Wennerholm<br> 1959 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2016 | &nbsp;&nbsp;&nbsp;Private investor. Formerly, Trustee at Wheelock College (postsecondary institution) (2012-2018). Formerly, Consultant at GF Parish Group (executive recruiting firm) (2016-2017). Formerly, Chief Operating Officer and Executive Vice President at BNY Mellon Asset Management (investment management firm) (2005-2011). Formerly, Chief Operating Officer and Chief Financial Officer at Natixis Global Asset Management (investment management firm) (1997-2004). Formerly, Vice President at Fidelity Investments Institutional Services (investment management firm) (1994-1997).<br> **Other Directorships.** None. |
| Nancy A. Wiser<sup>(1)</sup><br> 1967 | &nbsp;&nbsp;&nbsp;Trustee | &nbsp;&nbsp;&nbsp;Since 2022 | &nbsp;&nbsp;&nbsp;Formerly, Executive Vice President and the Global Head of Operations at Wells Fargo Asset Management (2011-2021).<br> **Other Directorships.** None. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Name and Year of Birth** | &nbsp;&nbsp;**Trust/Portfolio <br> Position(s)** | &nbsp;&nbsp;**Length of Service** | &nbsp;&nbsp;**Principal Occupation(s)<br> During Past Five Years** |
| Principal Officers who are not Trustees | Principal Officers who are not Trustees | Principal Officers who are not Trustees | Principal Officers who are not Trustees |
| Eric A. Stein<br> 1980 | &nbsp;&nbsp;&nbsp;President | &nbsp;&nbsp;&nbsp;Since 2020 | &nbsp;&nbsp;&nbsp;Vice President and Chief Investment Officer, Fixed Income of EVM and BMR. Prior to November 1, 2020, Mr. Stein was a co-Director of Eaton Vance's Global Income Investments. Also Vice President of Calvert Research and Management ("CRM"). |
| Deidre E. Walsh<br> 1971 | &nbsp;&nbsp;&nbsp;Vice President and Chief<br> Legal Officer | &nbsp;&nbsp;&nbsp;Since 2009 | &nbsp;&nbsp;&nbsp;Vice President of EVM and BMR. Also Vice President of CRM. |
| James F. Kirchner<br> 1967 | &nbsp;&nbsp;&nbsp;Treasurer | &nbsp;&nbsp;&nbsp;Since 2007 | &nbsp;&nbsp;&nbsp;Vice President of EVM and BMR. Also Vice President of CRM. |

---

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Eaton Vance<br>

Emerging Markets Local Income Fund

October 31, 2022

Management and Organization — continued

------

---

| | | | |
|:---|:---|:---|:---|
| **Name and Year of Birth** | &nbsp;&nbsp;**Trust/Portfolio <br> Position(s)** | &nbsp;&nbsp;**Length of Service** | &nbsp;&nbsp;**Principal Occupation(s)<br> During Past Five Years** |
| Principal Officers who are not Trustees (continued) | Principal Officers who are not Trustees (continued) | Principal Officers who are not Trustees (continued) | Principal Officers who are not Trustees (continued) |
| Nicholas Di Lorenzo<br> 1987 | &nbsp;&nbsp;&nbsp;Secretary | &nbsp;&nbsp;&nbsp;Since 2022 | &nbsp;&nbsp;&nbsp;Formerly, associate (2012-2021) and counsel (2022) at Dechert LLP. |
| Richard F. Froio<br> 1968 | &nbsp;&nbsp;&nbsp;Chief Compliance<br> Officer | &nbsp;&nbsp;&nbsp;Since 2017 | &nbsp;&nbsp;&nbsp;Vice President of EVM and BMR since 2017. Formerly, Deputy Chief Compliance Officer (Adviser/Funds) and Chief Compliance Officer (Distribution) at PIMCO (2012-2017) and Managing Director at BlackRock/Barclays Global Investors (2009-2012). |

---

<sup>(1)</sup> Mr. Bowser and Ms. Wiser began serving as Trustees effective April 4, 2022.

The SAI for the Fund includes additional information about the Trustees and officers of the Fund and the Portfolio and can be obtained without charge on Eaton Vance's website at www.eatonvance.com or by calling 1-800-262-1122.

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Eaton Vance Funds<br>

Privacy Notice April 2021

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;**FACTS** | &nbsp;&nbsp;&nbsp;**WHAT DOES EATON VANCE DO WITH YOUR<br> PERSONAL INFORMATION?** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Why?** | &nbsp;&nbsp;&nbsp;&nbsp;Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
| &nbsp;&nbsp;&nbsp;**What?** | &nbsp;&nbsp;&nbsp;&nbsp;The types of personal information we collect and share depend on the product or service you have with us. This information can include:<br>■ Social Security number and income<br> ■ investment experience and risk tolerance<br> ■ checking account number and wire transfer instructions |
| &nbsp;&nbsp;&nbsp;**How?** | &nbsp;&nbsp;&nbsp;&nbsp;All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Eaton Vance chooses to share; and whether you can limit this sharing. |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Reasons we can share your<br> personal information** | &nbsp;&nbsp;**Does Eaton Vance<br> share?** | &nbsp;&nbsp;**Can you limit<br> this sharing?** |
| &nbsp;&nbsp;&nbsp;**For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus** | &nbsp;&nbsp;Yes | &nbsp;&nbsp;No |
| &nbsp;&nbsp;&nbsp;**For our marketing purposes — to offer our products and services to you** | &nbsp;&nbsp;Yes | &nbsp;&nbsp;No |
| &nbsp;&nbsp;&nbsp;**For joint marketing with other financial companies** | &nbsp;&nbsp;No | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;&nbsp;**For our investment management affiliates' everyday business purposes — information about your transactions, experiences, and creditworthiness** | &nbsp;&nbsp;Yes | &nbsp;&nbsp;Yes |
| &nbsp;&nbsp;&nbsp;**For our affiliates' everyday business purposes — information about your transactions and experiences** | &nbsp;&nbsp;Yes | &nbsp;&nbsp;No |
| &nbsp;&nbsp;&nbsp;**For our affiliates' everyday business purposes — information about your creditworthiness** | &nbsp;&nbsp;No | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;&nbsp;**For our investment management affiliates to market to you** | &nbsp;&nbsp;Yes | &nbsp;&nbsp;Yes |
| &nbsp;&nbsp;&nbsp;**For our affiliates to market to you** | &nbsp;&nbsp;No | &nbsp;&nbsp;We don't share |
| &nbsp;&nbsp;&nbsp;**For nonaffiliates to market to you** | &nbsp;&nbsp;No | &nbsp;&nbsp;We don't share |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**To limit our<br> sharing** | &nbsp;&nbsp;&nbsp;&nbsp;Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com<br>**Please note:**<br>If you are a *new* customer, we can begin sharing your information 30 days from the date we sent this notice. When you are *no longer* our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. |
| &nbsp;&nbsp;&nbsp;**Questions?** | &nbsp;&nbsp;&nbsp;&nbsp;Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com |

---

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Eaton Vance Funds<br>

Privacy Notice — continued April 2021

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Who we are** | &nbsp;&nbsp;&nbsp;**Who we are** |
| &nbsp;&nbsp;&nbsp;**Who is providing this notice?** | &nbsp;&nbsp;Eaton Vance Management, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd., Eaton Vance Global Advisors Limited, Eaton Vance Management's Real Estate Investment Group, Boston Management and Research, Calvert Research and Management, Eaton Vance and Calvert Fund Families and our investment advisory affiliates ("Eaton Vance") (see Investment Management Affiliates definition below) |
| &nbsp;&nbsp;&nbsp;**What we do** | &nbsp;&nbsp;&nbsp;**What we do** |
| &nbsp;&nbsp;&nbsp;**How does Eaton Vance<br> protect my personal<br> information?** | &nbsp;&nbsp;To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information. |
| &nbsp;&nbsp;&nbsp;**How does Eaton Vance<br> collect my personal<br> information?** | &nbsp;&nbsp;We collect your personal information, for example, when you<br>■ open an account or make deposits or withdrawals from your account<br> ■ buy securities from us or make a wire transfer<br> ■ give us your contact information<br>We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
| &nbsp;&nbsp;&nbsp;**Why can't I limit all sharing?** | &nbsp;&nbsp;Federal law gives you the right to limit only<br>■ sharing for affiliates' everyday business purposes — information about your creditworthiness<br> ■ affiliates from using your information to market to you<br> ■ sharing for nonaffiliates to market to you<br>State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. |
| &nbsp;&nbsp;&nbsp;**Definitions** | &nbsp;&nbsp;&nbsp;**Definitions** |
| &nbsp;&nbsp;&nbsp;**Investment Management<br> Affiliates** | &nbsp;&nbsp;Eaton Vance Investment Management Affiliates include registered investment advisers, registered broker- dealers, and registered and unregistered funds. Investment Management Affiliates does not include entities associated with Morgan Stanley Wealth Management, such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
| &nbsp;&nbsp;&nbsp;**Affiliates** | &nbsp;&nbsp;Companies related by common ownership or control. They can be financial and nonfinancial companies.<br>■ *Our affiliates include companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co.* |
| &nbsp;&nbsp;&nbsp;**Nonaffiliates** | &nbsp;&nbsp;Companies not related by common ownership or control. They can be financial and nonfinancial companies.<br>■ *Eaton Vance does not share with nonaffiliates so they can market to you.* |
| &nbsp;&nbsp;&nbsp;**Joint marketing** | &nbsp;&nbsp;A formal agreement between nonaffiliated financial companies that together market financial products or services to you.<br>■ *Eaton Vance doesn't jointly market.* |
| &nbsp;&nbsp;&nbsp;**Other important information** | &nbsp;&nbsp;&nbsp;**Other important information** |
| &nbsp;&nbsp;&nbsp;**Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information.<br>California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us.** | &nbsp;&nbsp;&nbsp;**Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information.<br>California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us.** |

---

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Eaton Vance Funds<br>

IMPORTANT NOTICES

------

**Delivery of Shareholder Documents. The Securities and Exchange Commission (SEC) permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called "householding" and it helps eliminate duplicate mailings to shareholders. *Eaton Vance, or your financial intermediary, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial intermediary, otherwise.* If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at 1-800-262-1122, or contact your financial intermediary. Your instructions that householding not apply to delivery of your Eaton Vance documents will typically be effective within 30 days of receipt by Eaton Vance or your financial intermediary.**

**Portfolio Holdings. Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) files a schedule of portfolio holdings on Part F to Form N-PORT with the SEC. Certain information filed on Form N-PORT may be viewed on the Eaton Vance website at www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC's website at www.sec.gov.**

**Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds' and Portfolios' Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge, upon request, by calling 1-800-262-1122 and by accessing the SEC's website at www.sec.gov.**

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

Investment Adviser of Emerging Markets Local Income Portfolio

#### Boston Management and Research<br> Two International Place<br> Boston, MA 02110
Investment Adviser and Administrator of Eaton Vance Emerging Markets Local Income Fund

#### Eaton Vance Management<br> Two International Place<br> Boston, MA 02110
Principal Underwriter\*

#### Eaton Vance Distributors, Inc.<br> Two International Place<br> Boston, MA 02110<br> (617) 482-8260
Custodian

#### State Street Bank and Trust Company<br> State Street Financial Center, One Lincoln Street<br> Boston, MA 02111
Transfer Agent

#### BNY Mellon Investment Servicing (US) Inc.<br> Attn: Eaton Vance Funds<br> P.O. Box 9653<br> Providence, RI 02940-9653<br> (800) 262-1122
Independent Registered Public Accounting Firm

#### Deloitte & Touche LLP<br> 200 Berkeley Street<br> Boston, MA 02116-5022
Fund Offices

Two International Place<br> Boston, MA 02110

<sup>\*</sup> **FINRA BrokerCheck.** Investors may check the background of their Investment Professional by contacting the Financial Industry Regulatory Authority (FINRA). FINRA BrokerCheck is a free tool to help investors check the professional background of current and former FINRA-registered securities firms and brokers. FINRA BrokerCheck is available by calling 1-800-289-9999 and at www.FINRA.org. The FINRA BrokerCheck brochure describing this program is available to investors at www.FINRA.org.

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[**Table of Contents**](#job_ev_ar_bd07ad5e-b426-4cbc-802a-9b0cf91fe34c_toc)

3040 10.31.22

------

**Item 2. Code of Ethics** 

The registrant (sometimes referred to as the "Fund") has adopted a code of ethics applicable to its Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. The registrant undertakes to provide a copy of such code of ethics to any person upon request, without charge, by calling 1-800-262-1122. The registrant has not amended the code of ethics as described in Form N-CSR/A during the period covered by this report. The registrant has not granted any waiver, including an implicit waiver, from a provision of the code of ethics as described in Form N-CSR/A during the period covered by this report.

**Item 3. Audit Committee Financial Expert** 

The registrant's Board of Trustees (the "Board") has designated George J. Gorman and Scott E. Wennerholm, each an independent trustee, as audit committee financial experts. Mr. Gorman is a certified public accountant who is the Principal at George J. Gorman LLC (a consulting firm). Previously, Mr. Gorman served in various capacities at Ernst & Young LLP (a registered public accounting firm), including as Senior Partner. Mr. Gorman also has experience serving as an independent trustee and audit committee financial expert of other mutual fund complexes. Mr. Wennerholm is a private investor. Previously, Mr. Wennerholm served as a Trustee at Wheelock College (postsecondary institution), as a Consultant at GF Parish Group (executive recruiting firm), Chief Operating Officer and Executive Vice President at BNY Mellon Asset Management (investment management firm), Chief Operating Officer and Chief Financial Officer at Natixis Global Asset Management (investment management firm), and Vice President at Fidelity Investments Institutional Services (investment management firm).

**Item 4. Principal Accountant Fees and Services** 

**(a)-(d)** 

The following table presents the aggregate fees billed to the registrant for the registrant's fiscal years ended October 31, 2021 and October 31, 2022 by the registrant's principal accountant, Deloitte & Touche LLP ("D&T"), for professional services rendered for the audit of the registrant's annual financial statements and fees billed for other services rendered by D&T during such periods.

---

| | | |
|:---|:---|:---|
| **Fiscal Years Ended** | **10/31/21** | **10/31/22** |
|  Audit Fees | $89400 | $94900 |
|  Audit-Related Fees<sup>(1)</sup> | $0 | $0 |
|  Tax Fees<sup>(2)</sup> | $17019 | $3000 |
|  All Other Fees<sup>(3)</sup> | $0 | $0 |
|  Total | $106419 | $97900 |

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<sup>(1)</sup> Audit-related fees consist of the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under the category of audit fees.

<sup>(2)</sup> Tax fees consist of the aggregate fees billed for professional services rendered by the principal accountant relating to tax compliance, tax advice, and tax planning and specifically include fees for tax return preparation and other related tax compliance/planning matters.

<sup>(3)</sup> All other fees consist of the aggregate fees billed for products and services provided by the principal accountant other than audit, audit-related, and tax services.

(e)(1) The registrant's audit committee has adopted policies and procedures relating to the pre-approval of services provided by the registrant's principal accountant (the "Pre-Approval Policies"). The Pre-Approval Policies establish a framework intended to assist the audit committee in the proper discharge of its pre-approval responsibilities. As a general matter, the Pre-Approval Policies (i) specify certain types of audit, audit-related, tax, and other services determined to be pre-approved by the audit committee; and (ii) delineate specific procedures governing the mechanics of the pre-approval process, including the approval and monitoring of audit and non-audit service fees. Unless a service is specifically pre-approved under the Pre-Approval Policies, it must be separately pre-approved by the audit committee.

------

The Pre-Approval Policies and the types of audit and non-audit services pre-approved therein must be reviewed and ratified by the registrant's audit committee at least annually. The registrant's audit committee maintains full responsibility for the appointment, compensation, and oversight of the work of the registrant's principal accountant.

(e)(2) No services described in paragraphs (b)-(d) above were approved by the registrant's audit committee pursuant to the "de minimis exception" set forth in Rule 2-01 (c)(7)(i)(C) of Regulation S-X.

(f) Not applicable.

(g) The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the registrant by D&T for the registrant's fiscal years ended October 31, 2021 and October 31, 2022; and (ii) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the Eaton Vance organization by D&T for the same time periods.

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| | | |
|:---|:---|:---|
| **Fiscal Years Ended** | **10/31/21** | **10/31/22** |
|  **Registrant** | $17019 | $3000 |
|  **Eaton Vance<sup>(1)</sup>** | $51800 | $52836 |

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<sup>(1)</sup> Certain subsidiaries of Morgan Stanley provide ongoing services to the registrant.

(h) The registrant's audit committee has considered whether the provision by the registrant's principal accountant of non-audit services to the registrant's investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining the principal accountant's independence.

**Item 5. Audit Committee of Listed Registrants** 

Not applicable.

**Item 6. Schedule of Investments** 

Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR/A.

**Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies** 

Not applicable.

**Item 8. Portfolio Managers of Closed-End Management Investment Companies** 

Not applicable.

------

**Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers** 

Not applicable.

**Item 10. Submission of Matters to a Vote of Security Holders** 

No material changes.

**Item 11. Controls and Procedures** 

(a) The registrant maintains disclosure controls and procedures to provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission's rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant's principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. Within 90 days prior to the filing date of the annual report on Form N-CSR/A, management carried out an evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures. Based on such evaluation, the principal executive officer and principal financial officer concluded that the registrant's disclosure controls and procedures were not effective due to a material weakness. A material weakness exists in the design and operating effectiveness of controls over the amounts used to determine the mark-to-market adjustment on unrealized gains and losses arising from foreign currencies at year-end for tax purposes. The controls were not effective to ensure the correct amounts were utilized, affecting the registrant's determination of its tax-related financial statement disclosures. This material weakness resulted in an audit adjustment to decrease the cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the registrant at October 31, 2022, as determined on a federal income tax basis. The aforementioned adjusted amounts are presented in the notes to the registrant's financial statements included herein. This material weakness did not result in a misstatement of previously issued financial statements.

To remediate the material weakness described above, management of the registrant is enhancing its oversight and review controls over activities performed by an outsourced tax preparer.

(b) Other than the enhancements to controls noted above that are being implemented subsequent to October 31, 2022, there have been no changes in the registrant's internal controls over financial reporting during the period covered by this report and subsequent to the date of their evaluation in connection with the preparation of this Form N-CSR/A that materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies** 

Not applicable.

**Item 13. Exhibits** 

---

| | |
|:---|:---|
| (a)(1) | Registrant's Code of Ethics – Not applicable (please see Item 2). |
| (a)(2)(i) | [Treasurer's Section 302 certification.](d418869dex99cert.htm) |
| (a)(2)(ii) | [President's Section 302 certification.](d418869dex99cert.htm#a) |
| (b) | [Combined Section 906 certification.](d418869dex99906cert.htm) |

---

------

**Signatures** 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | |
|:---|:---|
| <u>Emerging Markets Local Income Portfolio</u> | <u>Emerging Markets Local Income Portfolio</u> |
| By: | /s/ Eric A. Stein |
|  | Eric A. Stein |
|  | President |
| Date: | January 17, 2023 |

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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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| | |
|:---|:---|
| By: | /s/ James F. Kirchner |
|  | James F. Kirchner |
|  | Treasurer |
| Date: | January 17, 2023 |
| By: | /s/ Eric A. Stein |
|  | Eric A. Stein |
|  | President |
| Date: | January 17, 2023 |

---

## Ex-99.Cert

**Emerging Markets Local Income Portfolio** 

**FORM N-CSR/A** 

**Exhibit 13(a)(2)(i)** 

**<u>CERTIFICATION</u>**

I, James F. Kirchner, certify that:

1. I have reviewed this report on Form N-CSR/A of Emerging Markets Local Income Portfolio;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: January 17, 2023 | /s/ James F. Kirchner |
|  | James F. Kirchner |
|  | Treasurer |

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**Emerging Markets Local Income Portfolio** 

**FORM N-CSR/A** 

**Exhibit 13(a)(2)(ii)** 

**<u>CERTIFICATION</u>**

I, Eric A. Stein, certify that:

1. I have reviewed this report on Form N-CSR/A of Emerging Markets Local Income Portfolio;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: January 17, 2023 | /s/ Eric A. Stein |
|  | Eric A. Stein |
|  | President |

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## Exhibit 99.906

**<u>Form N-CSR/A Item 13(b) Exhibit</u>**

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned hereby certify in their capacity as Treasurer and President, respectively, of Emerging Markets Local Income Portfolio (the "**Portfolio**"), that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Annual Report of the **Portfolio** on Form N-CSR/A for the
period ended October 31, 2022 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The information contained in the Report fairly presents, in all material respects, the financial condition and
the results of operations of the **Portfolio** for such period.

**A signed original of this written statement required by section 906 has been provided to the Portfolio and will be retained by the Portfolio and furnished to the Securities and Exchange Commission or its staff upon request.** 

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| |
|:---|
| Emerging Markets Local Income Portfolio |
| Date: January 17, 2023 |
| /s/ James F. Kirchner |
| James F. Kirchner |
| Treasurer |
| Date: January 17, 2023 |
| /s/ Eric A. Stein |
| Eric A. Stein |
| President |

---