# EDGAR Filing Document

**Accession Number:** 0000822977
**File Stem:** 0001410368-25-027904
**Filing Date:** 2025-11
**Character Count:** 70820
**Document Hash:** c26b70afa735c8413e7cd83d149b7abc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027904.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-027904

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS TRUST
- **CENTRAL INDEX KEY:** 0000822977

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05349
- **FILM NUMBER:** 251505272

**BUSINESS ADDRESS:**
- **STREET 1:** 71  SOUTH WACKER DRIVE
- **STREET 2:** C/O GOLDMAN SACHS & CO
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126554400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19910711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19900104

## Series and Classes Contracts Data

### Goldman Sachs Emerging Markets Credit Fund (Series ID: S000020098)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000056392 | Class A         | GAMDX           |
| C000056393 | Class C         | GCMDX           |
| C000056394 | Institutional   | GIMDX           |
| C000090763 | Investor Shares | GLIRX           |
| C000195493 | Class R6 Shares | GIMSX           |
| C000202043 | Class P Shares  | GMWPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** GOLDMAN SACHS TRUST

- **b. Investment Company Act file number:** 811-05349

- **c. CIK number of Registrant:** 0000822977

- **d. LEI of Registrant:** S2FHCT8U6D2VORP0J605

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

  - **Street Address 1:** 71  SOUTH WACKER DRIVE

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Emerging Markets Credit Fund

- **b. EDGAR series identifier (if any):** S000020098

- **c. LEI of Series:** 58SWL44ZGT3G71LAHX23

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $25651256.90

**Total Liabilities:** $461968.87

**Net Assets:** $25189288.03

**Cash Not Reported:** $434326.08

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -15.78000000 | **1-Year:** -339.64000000 | **5-Year:** -1658.44000000 | **10-Year:** -1656.55000000 | **30-Year:** -1151.27000000

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

- **3-Month:** -68.90000000 | **1-Year:** -1368.32000000 | **5-Year:** -2862.33000000 | **10-Year:** -1272.75000000 | **30-Year:** -455.47000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000202043 | 1.30%                | 1.29%                | 1.30%                |
| Class ID C000056392 | 1.27%                | 1.26%                | 1.02%                |
| Class ID C000056393 | 1.21%                | 1.20%                | 0.96%                |
| Class ID C000056394 | 1.05%                | 1.29%                | 1.30%                |
| Class ID C000195493 | 1.05%                | 1.29%                | 1.30%                |
| Class ID C000090763 | 1.29%                | 1.03%                | 1.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $41319.11                | $114277.88                                 |
| Month 2  | $-48702.99               | $252698.61                                 |
| Month 3  | $72373.98                | $108249.38                                 |

**Designated Index Information**

- **Index Name:** Securities Only Portfolio

- **Index Identifier:** Securities Only Portfolio_PV100782

### Schedule of Portfolio Investments

| Name                                           | Title                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     20000 | PA      | $19880.00     | 0.08%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| LIMAK CIMENTO SANAYI                           | Limak Cimento Sanayi ve Ticaret AS                                                                     | CUSIP: 000000000<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $205000.00    | 0.81%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ANADOLU EFES BIR                               | Anadolu Efes Biracilik Ve Malt Sanayii AS                                                              | CUSIP: 000000000<br>LEI: 7890006LGARYVIPOJX03 | Long             | DBT              | CORP              | TR        |    320000 | PA      | $296239.39    | 1.18%             | 2028-06-29      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| UPL CORP LTD                                   | UPL Corp Ltd                                                                                           | CUSIP: 000000000<br>LEI: 213800AQLATW4WEEH674 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $186210.00    | 0.74%             | 2030-06-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA                           | Sitios Latinoamerica SAB de CV                                                                         | CUSIP: 000000000<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |    260000 | PA      | $259337.00    | 1.03%             | 2032-04-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     50000 | PA      | $50875.50     | 0.20%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                       | Banco Mercantil del Norte SA/Grand Cayman                                                              | CUSIP: 05971PAE8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    300000 | PA      | $320325.00    | 1.27%             | 2035-05-20      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| INTERCHILE SA                                  | Interchile SA                                                                                          | CUSIP: 000000000<br>LEI: 549300Y105FQQX6RCE16 | Long             | DBT              | CORP              | CL        |    250000 | PA      | $213500.00    | 0.85%             | 2056-06-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL                        | Adani Ports & Special Economic Zone Ltd                                                                | CUSIP: 000000000<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $197000.00    | 0.78%             | 2027-08-04      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| BECLE SA DE CV                                 | Becle SAB de CV                                                                                        | CUSIP: 000000000<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $215332.50    | 0.85%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                       | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    198101 | PA      | $210423.39    | 0.84%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                       | Azule Energy Finance Plc                                                                               | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202375.00    | 0.80%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| SABESP LUX SARL                                | Sabesp Lux Sarl                                                                                        | CUSIP: 785170AB7<br>LEI: 984500C7VFFH4QD3B757 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $200955.00    | 0.80%             | 2030-08-20      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                       | Uzbek Industrial and Construction Bank ATB                                                             | CUSIP: 917935AA6<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $215706.00    | 0.86%             | 2029-07-24      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| ARCOR SAIC                                     | Arcor SAIC                                                                                             | CUSIP: 03965PAE1<br>LEI: 529900B2ROYOJG45VO88 | Long             | DBT              | CORP              | AR        |    100000 | PA      | $98750.00     | 0.39%             | 2033-07-31      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                       | OCP SA                                                                                                 | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $187750.00    | 0.75%             | 2031-06-23      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                       | OCP SA                                                                                                 | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $221938.00    | 0.88%             | 2054-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BANCO DAVIVIENDA SA                            | Banco Davivienda SA                                                                                    | CUSIP: 000000000<br>LEI: 549300P161V4IPKAQS70 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $184598.00    | 0.73%             | 2031-04-22      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                                                                   | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10408.52     | 0.04%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Minejesa Capital BV                            | Minejesa Capital BV                                                                                    | CUSIP: 000000000<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |    143840 | PA      | $143120.80    | 0.57%             | 2030-08-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| JSW INFRASTRUCTURE                             | JSW Infrastructure Ltd                                                                                 | CUSIP: 000000000<br>LEI: 3358003E3YFK92C9WX80 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $200750.00    | 0.80%             | 2029-01-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ATP TOW/ANDEAN TELECOM                         | ATP Tower Holdings / Andean Telecom Partners Chile SpA / Andean Tower Partners C                       | CUSIP: 00193BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $204500.00    | 0.81%             | 2030-02-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     10000 | PA      | $8244.50      | 0.03%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                         | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                           | CUSIP: 000000000<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $196562.00    | 0.78%             | 2033-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BANCA TRANSILVANIA                             | Banca Transilvania SA                                                                                  | CUSIP: 000000000<br>LEI: 549300RG3H390KEL8896 | Long             | DBT              | CORP              | RO        |    320000 | PA      | $386497.48    | 1.53%             | 2027-04-27      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| VIVO ENERGY INVESTMENTS                        | Vivo Energy Investments BV                                                                             | CUSIP: 000000000<br>LEI: 724500P3OXMB2IERLM56 | Long             | DBT              | CORP              | NL        |    210000 | PA      | $208456.50    | 0.83%             | 2027-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GCC SAB DE CV                                  | GCC SAB de CV                                                                                          | CUSIP: 000000000<br>LEI: 254900WY9XL8033CKX68 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $182058.00    | 0.72%             | 2032-04-20      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| HUNT OIL CO OF PERU                            | Hunt Oil Co of Peru LLC Sucursal Del Peru                                                              | CUSIP: 445640AD7<br>LEI: 549300SVO0550J3IKN50 | Long             | DBT              | CORP              | PE        |    210000 | PA      | $230475.00    | 0.91%             | 2038-11-05      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS                                 | Eskom Holdings                                                                                         | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    200000 | PA      | $197518.00    | 0.78%             | 2027-07-23      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                           | YPF SA                                                                                                 | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     80000 | PA      | $77160.00     | 0.31%             | 2034-01-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: BR243157  IRS EUR R V 06MEURIB 1 CCPVANILLA / Short: BR243157  IRS EUR P F  2.50000 2 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    110000 | OU      | $6092.91      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                         | Mexico City Airport Trust                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    200000 | PA      | $173500.00    | 0.69%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GUARA NORTE SARL                               | Guara Norte Sarl                                                                                       | CUSIP: 000000000<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |    153658 | PA      | $149586.06    | 0.59%             | 2034-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 2YR NOTE (CBT) DEC25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         9 | NC      | $130.73       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NIAGARA ENERGY SAC                             | Niagara Energy SAC                                                                                     | CUSIP: 000000000<br>LEI: 254900V9UGCG42YQ6848 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $204976.00    | 0.81%             | 2034-10-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                                | Cemex SAB de CV                                                                                        | CUSIP: 000000000<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $189260.00    | 0.75%             | 2031-07-11      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                                                    | CUSIP: 91282CPA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    140000 | PA      | $139289.06    | 0.55%             | 2030-09-30      | Fixed         | 3.62%                 | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     20000 | PA      | $20235.00     | 0.08%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 5YR NOTE (CBT) DEC25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -9 | NC      | $1728.74      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MELCO RESORTS FINANCE                          | Melco Resorts Finance Ltd                                                                              | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    260000 | PA      | $259935.00    | 1.03%             | 2027-07-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                | IHS Holding Ltd                                                                                        | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    220000 | PA      | $227288.60    | 0.90%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                           | Saudi Arabian Oil Co                                                                                   | CUSIP: 80414L2P9<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    200000 | PA      | $198728.00    | 0.79%             | 2054-07-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DNO ASA                                        | DNO ASA                                                                                                | CUSIP: 000000000<br>LEI: 5967007LIEEXZXH3K072 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $211208.34    | 0.84%             | 2029-06-04      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AXIAN TELE HOLD PLC                            | Axian Telecom Holding & Management PLC                                                                 | CUSIP: 05465QAA7<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $204750.00    | 0.81%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IRB INFRASTRUCTURE DEVELOPERS                  | IRB INFRASTRUCTURE DEVELOPERS                                                                          | CUSIP: 000000000<br>LEI: 335800XGO3AITGW6AK27 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $207250.00    | 0.82%             | 2032-03-11      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| TRANSNET/SOUTH AFRICA                          | Transnet/South Africa                                                                                  | CUSIP: 000000000<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |    200000 | PA      | $210824.00    | 0.84%             | 2028-02-06      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                            | Braskem Netherlands Finance BV                                                                         | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $84790.00     | 0.34%             | 2028-01-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                            | Suzano Austria GmbH                                                                                    | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     20000 | PA      | $17948.00     | 0.07%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Paraguay Government International Bonds        | Paraguay Government International Bonds                                                                | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $184100.00    | 0.73%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                      | Prosus NV                                                                                              | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $192000.00    | 0.76%             | 2030-01-21      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                           | Republic of Uzbekistan International Bond                                                              | CUSIP: 91822QVX2<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    200000 | PA      | $214600.00    | 0.85%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| AKBANK TAS                                     | Akbank TAS                                                                                             | CUSIP: 00971YAL4<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    210000 | PA      | $219975.00    | 0.87%             | 2030-01-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CABLE ONDA SA                                  | Telecomunicaciones Digitales SA                                                                        | CUSIP: 000000000<br>LEI: 5299008Q5GONPYNF9J32 | Long             | DBT              | CORP              | PA        |    200000 | PA      | $190930.00    | 0.76%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KINGSTON AIRPORT REV FIN                       | Kingston Airport Revenue Finance Ltd                                                                   | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $206200.00    | 0.82%             | 2036-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NBK TIER 1 LTD                                 | NBK Tier 1 Ltd                                                                                         | CUSIP: 62879NAB3<br>LEI: 5493000G4QCCEE8YHF19 | Long             | DBT              | CORP              | AE        |    260000 | PA      | $267670.00    | 1.06%             | 2031-01-10      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FIBRA SOMA TRUST F/6185                        | CIBANCO SA Institucion de Banca Multiple Trust CIB/3332                                                | CUSIP: 000000000<br>LEI: 549300PN33H8IMG2PD83 | Long             | DBT              |  | MX        |    200000 | PA      | $170980.00    | 0.68%             | 2031-07-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL GLOBAL POWER                        | San Miguel Global Power Holdings Corp                                                                  | CUSIP: 000000000<br>LEI: 549300HBCE80QXKII590 | Long             | DBT              | CORP              | PH        |    250000 | PA      | $256250.00    | 1.02%             | 2029-06-12      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                           | YPF SA                                                                                                 | CUSIP: 000000000<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     10000 | PA      | $9645.00      | 0.04%             | 2034-01-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                                                                   | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40839.00     | 0.16%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co.                          | Saudi Arabian Oil Co.                                                                                  | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    200000 | PA      | $136692.00    | 0.54%             | 2050-11-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA                        | EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA                                        | CUSIP: 000000000<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $185876.00    | 0.74%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ACU PETROLEO LUXEMBOURG                        | Acu Petroleo Luxembourg Sarl                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    221049 | PA      | $225193.41    | 0.89%             | 2032-01-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IPOTEKA-BANK ATIB                              | Ipoteka-Bank ATIB                                                                                      | CUSIP: 000000000<br>LEI: 213800UWVX5JSNXJS434 | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $199800.00    | 0.79%             | 2025-11-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                           | Samarco Mineracao SA                                                                                   | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    270193 | PA      | $271543.97    | 1.08%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US ULTRA BOND CBT DEC25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -3 | NC      | $-9614.44     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Petrobras Global Finance BV                    | Petrobras Global Finance BV                                                                            | CUSIP: 71647NBL2<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    130000 | PA      | $128475.10    | 0.51%             | 2035-01-13      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OTP BANK NYRT                                  | OTP Bank Nyrt                                                                                          | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | DBT              | CORP              | HU        |    200000 | PA      | $215000.00    | 0.85%             | 2033-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: SR243149  IRS EUR R F  2.00000 2 CCPVANILLA / Short: SR243149  IRS EUR P V 06MEURIB 1 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |    160000 | OU      | $-654.40      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                       | Digicel International Finance Ltd / Difl US LLC                                                        | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $205190.00    | 0.81%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US LONG BOND(CBT) DEC25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         4 | NC      | $7323.52      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MV24 CAPITAL BV                                | MV24 Capital BV                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    292928 | PA      | $291375.48    | 1.16%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AEROPUERTO INTL TOCUMEN                        | Aeropuerto Internacional de Tocumen SA                                                                 | CUSIP: 000000000<br>LEI: 254900FO1PHX49ZIGB14 | Long             | DBT              | CORP              | PA        |    200000 | PA      | $158812.50    | 0.63%             | 2061-08-11      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ABSA GROUP LTD                                 | Absa Group Ltd                                                                                         | CUSIP: 000000000<br>LEI: 2138006IPPRD4N6XLT30 | Long             | DBT              | CORP              | ZA        |    240000 | PA      | $240000.00    | 0.95%             | 2026-05-27      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| El Salvador Government International Bonds     | El Salvador Government International Bonds                                                             | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    150000 | PA      | $129300.00    | 0.51%             | 2050-01-20      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: SR239730  IRS USD R F  3.37296 2 CCPOIS / Short: SR239730  IRS USD P V 00MSOFR 1 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    250000 | OU      | $-7.77        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                        | Mong Duong Finance Holdings BV                                                                         | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    182952 | PA      | $180893.69    | 0.72%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BANCO INDUSTRIAL SA                            | Banco Industrial SA/Guatemala                                                                          | CUSIP: 000000000<br>LEI: 529900GF99QF67JEQU85 | Long             | DBT              | CORP              | GT        |    200000 | PA      | $199200.00    | 0.79%             | 2031-01-29      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: BR243153  IRS EUR R V 06MEURIB 1 CCPVANILLA / Short: BR243153  IRS EUR P F  2.25000 2 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |    100000 | OU      | $2184.17      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ARAGVI FINANCE INTL                            | Aragvi Finance International DAC                                                                       | CUSIP: 03851RAC8<br>LEI: 635400VKAYT1VT6VBF50 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $201200.00    | 0.80%             | 2029-11-20      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| MHP Lux SA                                     | MHP Lux SA                                                                                             | CUSIP: 000000000<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $187500.00    | 0.74%             | 2026-04-03      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund                                                         | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | EC               | RF                | US        |      4113 | NS      | $4113.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JSW HYDRO ENERGY LTD                           | JSW Hydro Energy Ltd                                                                                   | CUSIP: 000000000<br>LEI: 3358006ZP5KO7VUH2790 | Long             | DBT              | CORP              | IN        |    142000 | PA      | $134545.00    | 0.53%             | 2031-05-18      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                        | Romanian Government International Bond                                                                 | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    120000 | PA      | $121729.10    | 0.48%             | 2036-05-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CONTINUUM ENERGY AURA                          | Continuum Energy Aura Pte Ltd                                                                          | CUSIP: 000000000<br>LEI: 984500AB52D7C8GC2E33 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $206188.00    | 0.82%             | 2027-02-24      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                        | Aeropuertos Dominicanos Siglo XXI SA                                                                   | CUSIP: 007866AE6<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    260000 | PA      | $273000.00    | 1.08%             | 2034-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                              | Vedanta Resources Finance II PLC                                                                       | CUSIP: 92243XAK7<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $213900.00    | 0.85%             | 2031-12-03      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                            | Suzano Austria GmbH                                                                                    | CUSIP: 86964WAJ1<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     10000 | PA      | $9462.50      | 0.04%             | 2031-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GRUPO NUTRESA SA                               | Grupo Nutresa SA                                                                                       | CUSIP: 40055CAA1<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    330000 | PA      | $353512.50    | 1.40%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                             | CA Magnum Holdings                                                                                     | CUSIP: 000000000<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $199025.00    | 0.79%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                       | Navoi Mining & Metallurgical Combinat                                                                  | CUSIP: 63890CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $213558.00    | 0.85%             | 2031-10-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| LIMAK ISKENDERUN                               | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS                                                   | CUSIP: 000000000<br>LEI: 5299001DUZ9PI7TCRC47 | Long             | DBT              | CORP              | TR        |    262524 | PA      | $266543.65    | 1.06%             | 2036-07-10      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS                       | Yapi ve Kredi Bankasi AS                                                                               | CUSIP: 984848AU5<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    310000 | PA      | $318137.50    | 1.26%             | 2030-03-03      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                       | OCP SA                                                                                                 | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    260000 | PA      | $216353.80    | 0.86%             | 2051-06-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                                                                   | CUSIP: 517834AF4<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193216.06    | 0.77%             | 2029-08-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | PURCHASED USD / SOLD EUR                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $52.03        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                   | Ecopetrol SA                                                                                           | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    170000 | PA      | $152609.00    | 0.61%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                        | Latam Airlines Group SA                                                                                | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $208335.00    | 0.83%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd                                 | Wynn Macau Ltd                                                                                         | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    270000 | PA      | $269865.00    | 1.07%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANCO CONTINENTAL S.A.E.                       | Banco Continental SAECA                                                                                | CUSIP: 000000000<br>LEI: 8945005Q0D60A6FCEM55 | Long             | DBT              | CORP              | PY        |    300000 | PA      | $298377.00    | 1.18%             | 2025-12-10      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI                        | Turkiye Garanti Bankasi AS                                                                             | CUSIP: 900148AF4<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $207207.04    | 0.82%             | 2034-02-28      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                                             | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    204000 | PA      | $215300.58    | 0.85%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 10YR NOTE (CBT)DEC25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -1 | NC      | $873.16       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| INRETAIL CONSUMER                              | InRetail Consumer                                                                                      | CUSIP: 000000000<br>LEI: 254900BI1YXHZ31NSP51 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $194396.00    | 0.77%             | 2028-03-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SEPLAT ENERGY PLC                              | SEPLAT Energy PLC                                                                                      | CUSIP: 81733MAA3<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |    330000 | PA      | $338662.50    | 1.34%             | 2030-03-21      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| AEROPUERTO INTL TOCUMEN                        | Aeropuerto Internacional de Tocumen SA                                                                 | CUSIP: 000000000<br>LEI: 254900FO1PHX49ZIGB14 | Long             | DBT              | CORP              | PA        |    200000 | PA      | $166050.00    | 0.66%             | 2041-08-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENDEAVOUR MINING PLC                           | Endeavour Mining PLC                                                                                   | CUSIP: 29261HAB1<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $206126.00    | 0.82%             | 2030-05-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Banco de Bogota SA                             | Banco de Bogota SA                                                                                     | CUSIP: 000000000<br>LEI: 549300LYHE7LWSKDZT53 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $201482.00    | 0.80%             | 2026-05-12      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                   | Ecopetrol SA                                                                                           | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $217140.00    | 0.86%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| TELFON CELUAR DEL PARAGU                       | Telefonica Celular del Paraguay SA                                                                     | CUSIP: 000000000<br>LEI: 254900R8A8IKGF4THL54 | Long             | DBT              | CORP              | PY        |    200000 | PA      | $199200.00    | 0.79%             | 2027-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                           | Bidvest Group UK PLC/The                                                                               | CUSIP: 088932AA6<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200900.00    | 0.80%             | 2032-09-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                         | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    200000 | PA      | $197800.00    | 0.79%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                        | Latam Airlines Group SA                                                                                | CUSIP: 51817RAE6<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |     30000 | PA      | $31125.00     | 0.12%             | 2031-01-07      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     30000 | PA      | $30510.00     | 0.12%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL                       | AES Panama Generation Holdings SRL                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    376335 | PA      | $355636.81    | 1.41%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                        | Latam Airlines Group SA                                                                                | CUSIP: 000000000<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |     20000 | PA      | $20833.50     | 0.08%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                         | Anglo American Capital PLC                                                                             | CUSIP: 034863BF6<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $205296.00    | 0.82%             | 2054-04-05      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                           | Telecom Argentina SA                                                                                   | CUSIP: 879273AV2<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |     90000 | PA      | $88605.00     | 0.35%             | 2033-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC                                | Access Bank PLC                                                                                        | CUSIP: 000000000<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |    370000 | PA      | $366799.50    | 1.46%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PLUSPETROL SA                                  | Pluspetrol SA                                                                                          | CUSIP: 72942BAA3<br>LEI: 254900QSCHBUBX6J6H71 | Long             | DBT              | CORP              | AR        |     80000 | PA      | $79800.00     | 0.32%             | 2032-05-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LLPL Capital Pte Ltd                           | LLPL Capital Pte Ltd                                                                                   | CUSIP: 000000000<br>LEI: 254900VXZ8FXTUQNON22 | Long             | DBT              | CORP              | SG        |    175575 | PA      | $182444.37    | 0.72%             | 2039-02-04      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                         | Orbia Advance Corp SAB de CV                                                                           | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $207951.00    | 0.83%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| BANCO DEL ESTADO -CHILE                        | Banco del Estado de Chile                                                                              | CUSIP: 05957AAC3<br>LEI: 5493004R4EJC0W0XVQ72 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $214000.00    | 0.85%             | 2029-05-02      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL INDUSTRIAS                          | SAN Miguel Industrias Pet SA / NG PET R&P Latin America SA                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |    320000 | PA      | $303113.60    | 1.20%             | 2028-08-02      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Notes                                                                                    | CUSIP: 91282CNZ0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    140000 | PA      | $139540.63    | 0.55%             | 2032-09-30      | Fixed         | 3.88%                 | No            |                  1 | On Loan: No      |
| VALE OVERSEAS LIMITED                          | Vale Overseas Ltd                                                                                      | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |    230000 | PA      | $236044.40    | 0.94%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     40000 | PA      | $33096.00     | 0.13%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VISTA OIL & GAS ARGENTIN                       | Vista Energy Argentina SAU                                                                             | CUSIP: 000000000<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |     30000 | PA      | $29092.50     | 0.12%             | 2035-12-10      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bonds            | Oman Government International Bonds                                                                    | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $216080.00    | 0.86%             | 2047-03-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ST MARYS CEMENT INC                            | St Marys Cement Inc Canada                                                                             | CUSIP: 78478EAC2<br>LEI: 5493009981WBHS86CJ89 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $206562.00    | 0.82%             | 2034-04-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     20000 | PA      | $21585.00     | 0.09%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: BR239731  IRS USD R V 00MSOFR 1 CCPOIS / Short: BR239731  IRS USD P F  3.97712 2 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     70000 | OU      | $-622.92      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| IVORY COAST                                    | Ivory Coast Government International Bond                                                              | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    200000 | PA      | $206800.00    | 0.82%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: BR243152  IRS EUR R V 06MEURIB 1 CCPVANILLA / Short: BR243152  IRS EUR P F  2.25000 2 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     90000 | OU      | $810.68       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                       | Long: SR243155  IRS EUR R F  2.50000 2 CCPVANILLA / Short: SR243155  IRS EUR P V 06MEURIB 1 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    130000 | OU      | $-2751.85     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                       | Eagle Funding Luxco Sarl                                                                               | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    250000 | PA      | $253875.00    | 1.01%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                   | Ecopetrol SA                                                                                           | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     50000 | PA      | $51675.00     | 0.21%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                              | MC Brazil Downstream Trading SARL                                                                      | CUSIP: 000000000<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    182442 | PA      | $156352.59    | 0.62%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 10YR ULTRA FUT DEC25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -3 | NC      | $-3288.79     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                        | EIG Pearl Holdings Sarl                                                                                | CUSIP: 000000000<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |    196690 | PA      | $181476.07    | 0.72%             | 2036-08-31      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| REDE D'OR FINANCE SARL                         | Rede D'or Finance Sarl                                                                                 | CUSIP: 000000000<br>LEI: 549300FDE772OLJUCP79 | Long             | DBT              | CORP              | LU        |    320000 | PA      | $309120.00    | 1.23%             | 2030-01-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                        | Teva Pharmaceutical Finance Netherlands III BV                                                         | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $208188.00    | 0.83%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                           | Raizen Fuels Finance SA                                                                                | CUSIP: 75102XAC0<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $185600.00    | 0.74%             | 2054-03-05      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| TECPETROL S.A.                                 | Tecpetrol SA                                                                                           | CUSIP: 87876TAG9<br>LEI: 529900C0GOV3UC7ZMZ16 | Long             | DBT              | CORP              | AR        |     30000 | PA      | $30484.50     | 0.12%             | 2033-01-22      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DNO ASA                                        | DNO ASA                                                                                                | CUSIP: 000000000<br>LEI: 5967007LIEEXZXH3K072 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $206375.00    | 0.82%             | 2030-03-27      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                              | Kosmos Energy Ltd                                                                                      | CUSIP: 000000000<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    240000 | PA      | $210825.60    | 0.84%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GENM CAPITAL LABUAN                            | GENM Capital Labuan Ltd                                                                                | CUSIP: 000000000<br>LEI: 254900DWSHIWTSE0YG58 | Long             | DBT              | CORP              | MY        |    200000 | PA      | $184211.36    | 0.73%             | 2031-04-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MERSIN ULUSLARARASI LIMA                       | Mersin Uluslararasi Liman Isletmeciligi AS                                                             | CUSIP: 590454AC8<br>LEI: 635400DAFN6NT43HM530 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $207802.00    | 0.82%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                           | YPF SA                                                                                                 | CUSIP: 984245AX8<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    190000 | PA      | $194560.00    | 0.77%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                            | Petroleos Mexicanos                                                                                    | CUSIP: 71654QBR2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     20000 | PA      | $16273.80     | 0.06%             | 2045-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-04

**Name of Applicant:** GOLDMAN SACHS TRUST

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President