# EDGAR Filing Document

**Accession Number:** 0001005020
**File Stem:** 0001752724-25-174673
**Filing Date:** 2025-7
**Character Count:** 73780
**Document Hash:** f1b18f80826bf16ab38485abf9d92a3e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-174673.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001752724-25-174673

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS OPPORTUNITIES TRUST
- **CENTRAL INDEX KEY:** 0001005020

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07455
- **FILM NUMBER:** 251142301

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 800-243-1574

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL PLAZA
- **STREET 2:** 26TH FLOOR
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX OPPORTUNITIES TRUST
- **DATE OF NAME CHANGE:** 20060127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX SENECA FUNDS
- **DATE OF NAME CHANGE:** 19990122

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SENECA FUNDS
- **DATE OF NAME CHANGE:** 19951218

## Series and Classes Contracts Data

### Virtus Stone Harbor Emerging Markets Bond Fund (Series ID: S000075276)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234172 | Class I      | SHCDX           |
| C000234173 | Class A      | VSHAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus Opportunities Trust

- **b. Investment Company Act file number:** 811-07455

- **c. CIK number of Registrant:** 0001005020

- **d. LEI of Registrant:** 549300O4C4QVD88M4N75

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

  - **Street Address 1:** 101 Munson Street

  - **City:** Greenfield

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 01301-9668

  - **Telephone number:** 800-243-1574

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

- **a. Name of Series:** Virtus Stone Harbor Emerging Markets Bond Fund

- **b. EDGAR series identifier (if any):** S000075276

- **c. LEI of Series:** EKYSAAYBLFGWSLUFAV76

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-30

**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:** $6974897.72

**Total Liabilities:** $48730.35

**Net Assets:** $6926167.37

**Cash Not Reported:** $41310.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -13.18145230 | **5-Year:** -91.25564186 | **10-Year:** -607.76654530 | **30-Year:** -804.40743900

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

- **3-Month:** 0.00000000 | **1-Year:** -3.52386772 | **5-Year:** -443.04728340 | **10-Year:** -571.12586630 | **30-Year:** -430.75233900

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234172 | -0.25%               | -0.85%               | 0.40%                |
| Class ID C000234173 | -0.27%               | -0.92%               | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8041.93                 | $-63657.71                                 |
| Month 2  | $5024.22                 | $-103633.11                                |
| Month 3  | $983.69                  | $-5016.23                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMorgan Chase Bank, National Association | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-252.01      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN COPPER CORP                      | Southern Copper Corp                                                             | CUSIP: 84265VAE5<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9544.95      | 0.14%             | 2040-04-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD                      | Tencent Holdings Ltd                                                             | CUSIP: 88032WAV8<br>LEI: 254900N4SLUMW4XUYY11 | Long             | DBT              | CORP              | KY        |     11000 | PA      | $7293.72      | 0.11%             | 2050-06-03      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| KOOKMIN BANK                              | Kookmin Bank                                                                     | CUSIP: 50050GAW8<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |     60000 | PA      | $61013.40     | 0.88%             | 2027-05-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                      | Petronas Capital Ltd                                                             | CUSIP: 716743AV1<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |     18000 | PA      | $18188.46     | 0.26%             | 2031-01-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MINEJESA CAPITAL BV                       | Minejesa Capital BV                                                              | CUSIP: 602736AB6<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |     22000 | PA      | $20460.00     | 0.30%             | 2037-08-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                              | Ecopetrol SA                                                                     | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     31000 | PA      | $25358.00     | 0.37%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                  | Banco de Credito del Peru S.A.                                                   | CUSIP: 05971U2H9<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |     36000 | PA      | $35361.00     | 0.51%             | 2035-03-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ENN CLEAN ENERGY                          | ENN Clean Energy International Investment Ltd                                    | CUSIP: 268733AA0<br>LEI: 3003009YZ3S5V395NR77 | Long             | DBT              | CORP              | VG        |    104000 | PA      | $102180.00    | 1.48%             | 2026-05-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| OHI GROUP SA                              | OHI Group SA                                                                     | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |     56000 | PA      | $56604.80     | 0.82%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                           | IHS Holding Ltd                                                                  | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     55000 | PA      | $54243.75     | 0.78%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UNITED OVERSEAS BANK LTD                  | United Overseas Bank Ltd                                                         | CUSIP: 91127KAL6<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | DBT              | CORP              | SG        |     70000 | PA      | $70062.30     | 1.01%             | 2028-04-02      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| CIA CERVECERIAS UNIDAS                    | Cia Cervecerias Unidas SA                                                        | CUSIP: 204429AA2<br>LEI: 529900BJW9B0O6LI2R39 | Long             | DBT              | CORP              | CL        |     61000 | PA      | $53558.00     | 0.77%             | 2032-01-19      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                   | Studio City Finance Ltd                                                          | CUSIP: 86389QAG7<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |     75000 | PA      | $67756.88     | 0.98%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                     | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAE9<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     26000 | PA      | $24934.00     | 0.36%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WOORI BANK                                | Woori Bank                                                                       | CUSIP: 98105TAA2<br>LEI: 549300VUVMRL6RE7R376 | Long             | DBT              | CORP              | KR        |     38000 | PA      | $38285.00     | 0.55%             | N/A             | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                      | Telecom Argentina SA                                                             | CUSIP: 879273AU4<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |     34000 | PA      | $34993.99     | 0.51%             | 2031-07-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL                   | Adani Ports & Special Economic Zone Ltd                                          | CUSIP: 00652MAG7<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |     38000 | PA      | $36670.00     | 0.53%             | 2027-08-04      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MOVIDA EUROPE SA                          | Movida Europe SA                                                                 | CUSIP: 62459LAC3<br>LEI: 549300YRJE0V6QKU7C86 | Long             | DBT              | CORP              | LU        |     39000 | PA      | $34624.59     | 0.50%             | 2029-04-11      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| AKBANK TAS                                | Akbank TAS                                                                       | CUSIP: 00971YAL4<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |     26000 | PA      | $26292.50     | 0.38%             | 2030-01-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ADANIREN KODSOPAR WARSOM                  | Adani Renewable Energy RJ Ltd/Kodangal Solar Parks Pvt Ltd/Wardha Solar Maharash | CUSIP: 00654CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |     54275 | PA      | $43420.00     | 0.63%             | 2039-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                   | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |     56000 | PA      | $54460.00     | 0.79%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                             | HTA Group Ltd/Mauritius                                                          | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |     65000 | PA      | $66074.45     | 0.95%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                  | OCP SA                                                                           | CUSIP: 67091TAD7<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |     26000 | PA      | $22931.22     | 0.33%             | 2031-06-23      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HDFC BANK LTD                             | HDFC Bank Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |     37000 | PA      | $35600.94     | 0.51%             | N/A             | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY CO LTD                        | Studio City Co Ltd                                                               | CUSIP: 86400GAC3<br>LEI: 984500V5401EFT095A58 | Long             | DBT              | CORP              | VG        |     58000 | PA      | $58000.00     | 0.84%             | 2027-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ABU DHABI CRUDE OIL                       | Abu Dhabi Crude Oil Pipeline LLC                                                 | CUSIP: 00401MAA4<br>LEI: 549300DONDFW2383FV66 | Long             | DBT              | CORP              | AE        |     24000 | PA      | $23047.50     | 0.33%             | 2029-11-02      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                   | Mong Duong Finance Holdings BV                                                   | CUSIP: 60935DAA3<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |     74536 | PA      | $72221.73     | 1.04%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AMBIPAR LUX SARL                          | Ambipar Lux Sarl                                                                 | CUSIP: 02319WAB7<br>LEI: 9845008C0E14F9BDEK55 | Long             | DBT              | CORP              | LU        |     25000 | PA      | $23192.75     | 0.33%             | 2033-02-05      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                           | Sands China Ltd                                                                  | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     33000 | PA      | $32865.94     | 0.47%             | 2028-08-08      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| TSMC GLOBAL LTD                           | TSMC Global Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300N2ZLI21P85T117 | Long             | DBT              | CORP              | VG        |     29000 | PA      | $24677.84     | 0.36%             | 2030-09-28      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BANCO INTERNAC DEL PERU                   | Banco Internacional del Peru SAA Interbank                                       | CUSIP: 000000000<br>LEI: 5493001TRCGXJLRLHN14 | Long             | DBT              | CORP              | PE        |     35000 | PA      | $34824.13     | 0.50%             | 2030-07-08      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LTD                   | Reliance Industries Ltd                                                          | CUSIP: 759470BC0<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |     26000 | PA      | $16850.47     | 0.24%             | 2062-01-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                         | TSMC Arizona Corp                                                                | CUSIP: 872898AF8<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |     17500 | PA      | $17298.58     | 0.25%             | 2027-04-22      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                    | Star Energy Geothermal Wayang Windu Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |     34225 | PA      | $34246.39     | 0.49%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MINEJESA CAPITAL BV                       | Minejesa Capital BV                                                              | CUSIP: 602736AA8<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |    106569 | PA      | $103505.14    | 1.49%             | 2030-08-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| YPF ENERGIA ELECTRICA SA                  | YPF Energia Electrica SA                                                         | CUSIP: 98424MAB9<br>LEI: 5493002XN8FRTYQLR778 | Long             | DBT              | CORP              | AR        |     50000 | PA      | $48796.25     | 0.70%             | 2032-10-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BRASKEM IDESA SAPI                        | Braskem Idesa SAPI                                                               | CUSIP: 10554NAB4<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |     12000 | PA      | $8883.72      | 0.13%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                  | OCP SA                                                                           | CUSIP: 67091TAB1<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |     23000 | PA      | $21494.19     | 0.31%             | 2044-04-25      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO                  | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                       | CUSIP: 46590XAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     51000 | PA      | $38384.84     | 0.55%             | 2052-02-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                   | KazMunayGas National Co JSC                                                      | CUSIP: 48126PAA0<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     78000 | PA      | $65495.82     | 0.95%             | 2033-04-14      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                          | DP World Ltd/United Arab Emirates                                                | CUSIP: 23330JAC5<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |     47000 | PA      | $37893.75     | 0.55%             | 2049-09-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SHINHAN BANK                              | Shinhan Bank Co Ltd                                                              | CUSIP: 82460EAJ9<br>LEI: 5493003P813VL21KG928 | Long             | DBT              | CORP              | KR        |     49000 | PA      | $48624.17     | 0.70%             | 2026-03-24      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                  | Banco de Credito e Inversiones SA                                                | CUSIP: 05956NAF9<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |     51000 | PA      | $49852.50     | 0.72%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                      | Saudi Arabian Oil Co                                                             | CUSIP: 80414L2F1<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |     53000 | PA      | $40685.98     | 0.59%             | 2049-04-16      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CLEAN RENEWABLE POWER                     | Clean Renewable Power Mauritius Pte Ltd                                          | CUSIP: 18452NAB0<br>LEI: 2138003P9CSDW7P4MT75 | Long             | DBT              | CORP              | MU        |     33810 | PA      | $32668.91     | 0.47%             | 2027-03-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                         | MC Brazil Downstream Trading SARL                                                | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |     35905 | PA      | $28185.58     | 0.41%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                           | IHS Holding Ltd                                                                  | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     16000 | PA      | $15450.00     | 0.22%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LTD                   | Reliance Industries Ltd                                                          | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |     35000 | PA      | $23408.70     | 0.34%             | 2052-01-12      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                      | Telecom Argentina SA                                                             | CUSIP: 879273AV2<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |     35000 | PA      | $34971.13     | 0.50%             | 2033-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                       | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 059895AT9<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |     40000 | PA      | $36896.00     | 0.53%             | 2034-09-25      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                    | Standard Chartered PLC                                                           | CUSIP: 853254CS7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     18000 | PA      | $18565.11     | 0.27%             | 2029-01-09      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                   | KazMunayGas National Co JSC                                                      | CUSIP: 48667QAP0<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     41000 | PA      | $34399.00     | 0.50%             | 2047-04-19      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SIMPAR EUROPE SA                          | Simpar Europe SA                                                                 | CUSIP: 82883PAA2<br>LEI: 54930068BSUST41D5C30 | Long             | DBT              | CORP              | LU        |     67000 | PA      | $52796.00     | 0.76%             | 2031-01-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BANCO GENERAL SA                          | Banco General SA                                                                 | CUSIP: 059597AF1<br>LEI: 549300B5C08LGDFB7205 | Long             | DBT              | CORP              | PA        |     40000 | PA      | $35000.00     | 0.51%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                         | Vedanta Resources Finance II PLC                                                 | CUSIP: 92243XAH4<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |     21000 | PA      | $20754.30     | 0.30%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| LIMAK YENILENEBILIR                       | Limak Yenilenebilir Enerji AS                                                    | CUSIP: 53263MAA0<br>LEI: 789000WFO2FHRONHFN18 | Long             | DBT              | CORP              | TR        |     18000 | PA      | $17460.00     | 0.25%             | 2030-08-12      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                     | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     64000 | PA      | $58819.20     | 0.85%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JSW HYDRO ENERGY LTD                      | JSW Hydro Energy Ltd                                                             | CUSIP: 46653YAA6<br>LEI: 3358006ZP5KO7VUH2790 | Long             | DBT              | CORP              | IN        |     66030 | PA      | $59427.00     | 0.86%             | 2031-05-18      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BANCO DE CHILE                            | Banco de Chile                                                                   | CUSIP: 059520AC0<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | DBT              | CORP              | CL        |     84000 | PA      | $73280.76     | 1.06%             | 2031-12-09      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| GREENKO DUTCH BV                          | Greenko Dutch BV                                                                 | CUSIP: 39530LAD2<br>LEI: 724500PT585P4JPVRP08 | Long             | DBT              | CORP              | NL        |     45760 | PA      | $44787.60     | 0.65%             | 2026-03-29      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| INVEST ENERGY RES LTD                     | Investment Energy Resources Ltd                                                  | CUSIP: 46143NAB6<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | CORP              | BM        |     53000 | PA      | $50721.00     | 0.73%             | 2029-04-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                  | Banco de Credito del Peru S.A.                                                   | CUSIP: 05971V2C8<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |     28000 | PA      | $27877.50     | 0.40%             | 2030-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                    | AngloGold Ashanti Holdings PLC                                                   | CUSIP: 03512TAB7<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |     34000 | PA      | $34478.13     | 0.50%             | 2040-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                       | Suzano Austria GmbH                                                              | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     82000 | PA      | $69903.77     | 1.01%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                  | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |     35000 | PA      | $34650.00     | 0.50%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                              | Energean PLC                                                                     | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |     35000 | PA      | $34321.88     | 0.50%             | 2027-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                       | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAE5<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     35000 | PA      | $23100.00     | 0.33%             | 2050-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TURKCELL ILETISIM HIZMET                  | Turkcell Iletisim Hizmetleri AS                                                  | CUSIP: 900111AD7<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |     53000 | PA      | $53583.00     | 0.77%             | 2032-01-24      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                    | Standard Chartered PLC                                                           | CUSIP: 853254CC2<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     20000 | PA      | $17247.00     | 0.25%             | 2032-06-29      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                           | IHS Holding Ltd                                                                  | CUSIP: 44963HAA3<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     42000 | PA      | $41055.00     | 0.59%             | 2026-11-29      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PTT TREASURY CENTRE                       | PTT Treasury Center Co Ltd                                                       | CUSIP: 69374WAB8<br>LEI: 254900FBQLIN5XACCX50 | Long             | DBT              | CORP              | TH        |     42000 | PA      | $34875.54     | 0.50%             | 2042-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CT TRUST                                  | CT Trust                                                                         | CUSIP: 12659BAA2<br>LEI: 213800MJB7WO427HQD34 | Long             | DBT              | CORP              | GT        |     15000 | PA      | $13725.00     | 0.20%             | 2032-02-03      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AI CANDELARIA -SPAIN- SA                  | AI Candelaria -spain- SA                                                         | CUSIP: 00870WAA4<br>LEI: 213800L5KA2MJ5FKRZ02 | Long             | DBT              | CORP              | ES        |     54000 | PA      | $45106.74     | 0.65%             | 2033-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION OIL SA                      | Constellation Oil Services Holding SA                                            | CUSIP: 650921AA7<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |     46000 | PA      | $45593.13     | 0.66%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                   | Sasol Financing USA LLC                                                          | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |     89000 | PA      | $86775.00     | 1.25%             | 2026-09-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                   | EIG Pearl Holdings Sarl                                                          | CUSIP: 28249NAA9<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |    103235 | PA      | $90782.17     | 1.31%             | 2036-08-31      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                     | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     30000 | PA      | $29280.00     | 0.42%             | 2027-07-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GENER MEDIT/CENT TERMICA                  | Generacion Mediterranea SA / Central Termica Roca SA                             | CUSIP: 36875KAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | AR        |     54000 | PA      | $29700.00     | 0.43%             | 2031-11-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                  | Banco de Credito e Inversiones SA                                                | CUSIP: 05890MAB9<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |     41000 | PA      | $35900.63     | 0.52%             | 2031-10-14      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CSN RESOURCES SA                          | CSN Resources SA                                                                 | CUSIP: 12644VAD0<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |     47000 | PA      | $36204.10     | 0.52%             | 2031-06-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ADANI PORTS AND SPECIAL                   | Adani Ports & Special Economic Zone Ltd                                          | CUSIP: 000000000<br>LEI: 335800QOAXP5TM7OYP69 | Long             | DBT              | CORP              | IN        |     30000 | PA      | $25200.00     | 0.36%             | 2031-02-02      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL INDU                  | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |     17000 | PA      | $16856.52     | 0.24%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                     | Alibaba Group Holding Ltd                                                        | CUSIP: 01609WAZ5<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |     50000 | PA      | $31945.75     | 0.46%             | 2051-02-09      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ACWA POWER MGMT INVST                     | Acwa Power Management And Investments One Ltd                                    | CUSIP: 005117AA4<br>LEI: 635400M3OWQGQBZOYO38 | Long             | DBT              | CORP              | AE        |    101767 | PA      | $100803.58    | 1.46%             | 2039-12-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ADANI ELECTRICITY MUMBAI                  | Adani Electricity Mumbai Ltd                                                     | CUSIP: 00654GAA1<br>LEI: 335800AIC1B5EBFVUC38 | Long             | DBT              | CORP              | IN        |     72000 | PA      | $63450.00     | 0.92%             | 2030-02-12      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                    | Standard Chartered PLC                                                           | CUSIP: 853254CZ1<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |     46000 | PA      | $47247.06     | 0.68%             | 2035-01-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                     | Minerva Luxembourg SA                                                            | CUSIP: 603374AH2<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |     38000 | PA      | $40812.00     | 0.59%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                  | Greensaif Pipelines Bidco Sarl                                                   | CUSIP: 39541EAA1<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     21000 | PA      | $21285.81     | 0.31%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                      | Samarco Mineracao SA                                                             | CUSIP: 79588YAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |     75329 | PA      | $72974.97     | 1.05%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LTD                       | Shriram Finance Ltd                                                              | CUSIP: 82556FAA0<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |     35000 | PA      | $35043.75     | 0.51%             | 2027-04-22      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                  | OCP SA                                                                           | CUSIP: 67091TAG0<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |     24000 | PA      | $23391.36     | 0.34%             | 2054-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                         | Vedanta Resources Finance II PLC                                                 | CUSIP: 92243XAM3<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |     30000 | PA      | $28453.50     | 0.41%             | 2030-07-24      | Fixed         | 9.47%                 | No            |                  2 | On Loan: No      |
| IHS NETHERLANDS HOLDCO                    | IHS Netherlands Holdco BV                                                        | CUSIP: 44963LAC0<br>LEI: 5493006Z6YQYCCN2XI74 | Long             | DBT              | CORP              | NL        |     43998 | PA      | $44108.41     | 0.64%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GEOPARK LTD                               | Geopark Ltd                                                                      | CUSIP: 37255BAC3<br>LEI: 529900ZR5QI19AH4KZ07 | Long             | DBT              | CORP              | BM        |     69000 | PA      | $54941.25     | 0.79%             | 2030-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LEVIATHAN BOND LTD                        | Leviathan Bond Ltd                                                               | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |     75088 | PA      | $73797.24     | 1.07%             | 2030-06-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VF UKRAINE (VFU FUNDING)                  | VF Ukraine PAT via VFU Funding PLC                                               | CUSIP: 918212AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | UA        |     75023 | PA      | $71646.49     | 1.03%             | 2027-02-11      | Variable      | 9.62%                 | No            |                  2 | On Loan: No      |
| ADANI GREEN ENERGY UP                     | Adani Green Energy UP Ltd / Prayatna Developers Pvt Ltd / Parampujya Solar Energ | CUSIP: 00654AAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |     14897 | PA      | $13295.39     | 0.19%             | 2042-03-12      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                   | WE Soda Investments Holding PLC                                                  | CUSIP: 92943TAA1<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |     40000 | PA      | $41204.80     | 0.59%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TIERRA MOJADA LUX II SRL                  | Tierra Mojada Luxembourg II Sarl                                                 | CUSIP: 30260LAA3<br>LEI: 254900H2U8PBIY32VI94 | Long             | DBT              | CORP              | LU        |     23416 | PA      | $21681.15     | 0.31%             | 2040-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MSU ENERGY SA                             | MSU Energy SA                                                                    | CUSIP: 55377JAC1<br>LEI: 529900D1ZX75KRP2HC66 | Long             | DBT              | CORP              | AR        |     73000 | PA      | $66521.25     | 0.96%             | 2030-12-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                   | Sasol Financing USA LLC                                                          | CUSIP: 000000000<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27518.68     | 0.40%             | 2029-05-03      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                     | Freeport Indonesia PT                                                            | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |     40000 | PA      | $39430.00     | 0.57%             | 2032-04-14      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                  | First Quantum Minerals Ltd                                                       | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     85000 | PA      | $86168.75     | 1.24%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                   | Studio City Finance Ltd                                                          | CUSIP: 86389QAF9<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |     40000 | PA      | $39037.00     | 0.56%             | 2028-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CENTRAIS ELETRICAS ELET                   | Centrais Eletricas Brasileiras SA                                                | CUSIP: 15234VAA5<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | CORP              | BR        |     35000 | PA      | $34226.50     | 0.49%             | 2035-01-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| 10 RENEW POWER SUBSIDIAR                  | ReNew Wind Energy AP2 / ReNew Power Pvt Ltd other 9 Subsidiaries                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |     24000 | PA      | $22440.00     | 0.32%             | 2028-07-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| THAIOIL TRSRY CENTER                      | Thaioil Treasury Center Co Ltd                                                   | CUSIP: 88323AAB8<br>LEI: 549300NH03B9E8VGJR89 | Long             | DBT              | CORP              | TH        |     33000 | PA      | $26890.71     | 0.39%             | 2043-01-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ZORLU ENERJI ELEKTRIK                     | Zorlu Enerji Elektrik Uretim AS                                                  | CUSIP: 98977LAA4<br>LEI: 7890005B5CSNL39OYO75 | Long             | DBT              | CORP              | TR        |     37000 | PA      | $32210.35     | 0.47%             | 2030-04-23      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| TRIDENT ENERGY FINANCE                    | Trident Energy Finance PLC                                                       | CUSIP: 89616MAB6<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |     27000 | PA      | $26120.48     | 0.38%             | 2029-11-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| FORESEA HOLDING SA                        | FORESEA Holding SA                                                               | CUSIP: 262051AA3<br>LEI: 254900BAD50AKYGIMV79 | Long             | DBT              | CORP              | LU        |     55000 | PA      | $52283.50     | 0.75%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ADANI TRANS STEP-ONE LTD                  | Adani Transmission Step-One Ltd                                                  | CUSIP: 00652XAA6<br>LEI: 335800Z8CGS7O7D72N41 | Long             | DBT              | CORP              | IN        |     19000 | PA      | $18596.25     | 0.27%             | 2026-08-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                    | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX     | CUSIP: 05533UAF5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |     20000 | PA      | $18975.00     | 0.27%             | 2033-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FS LUXEMBOURG SARL                        | FS Luxembourg Sarl                                                               | CUSIP: 30315XAC8<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |     45000 | PA      | $45450.00     | 0.66%             | 2031-02-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CIKARANG LISTRINDO PT                     | Cikarang Listrindo Tbk PT                                                        | CUSIP: 74448QAA5<br>LEI: 254900NPCIO562Z7FN53 | Long             | DBT              | CORP              | ID        |     35000 | PA      | $34300.00     | 0.50%             | 2035-03-12      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG                  | Abu Dhabi National Energy Co PJSC                                                | CUSIP: 00388WAM3<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |     26000 | PA      | $25319.84     | 0.37%             | 2033-04-24      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                  | Banco de Credito del Peru S.A.                                                   | CUSIP: 05971U2J5<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |      9000 | PA      | $9098.01      | 0.13%             | 2035-07-30      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                 | Prosus NV                                                                        | CUSIP: 74365PAE8<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    154000 | PA      | $95287.50     | 1.38%             | 2051-02-08      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD                      | Tencent Holdings Ltd                                                             | CUSIP: 88032WAU0<br>LEI: 254900N4SLUMW4XUYY11 | Long             | DBT              | CORP              | KY        |     11000 | PA      | $9981.18      | 0.14%             | 2030-06-03      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| SIERRACOL ENRGY ANDINA                    | SierraCol Energy Andina LLC                                                      | CUSIP: 82653LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     38000 | PA      | $34583.80     | 0.50%             | 2028-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NBK SPC LTD                               | NBK SPC Ltd                                                                      | CUSIP: 62877P2A1<br>LEI: 549300P1ANDK86KWB419 | Long             | DBT              | CORP              | AE        |     35000 | PA      | $35743.75     | 0.52%             | 2030-06-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| POINSETTIA FINANCE LTD                    | Poinsettia Finance Ltd                                                           | CUSIP: 000000000<br>LEI: 549300P2JTF5JKW10Z65 | Long             | DBT              | CORP              | KY        |     47565 | PA      | $43159.05     | 0.62%             | 2031-06-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                   | Energean Israel Finance Ltd                                                      | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |     40000 | PA      | $36812.40     | 0.53%             | 2031-03-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC                           | Access Bank PLC                                                                  | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |     22000 | PA      | $21175.00     | 0.31%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| 3R LUX SARL                               | 3R Lux SARL                                                                      | CUSIP: 88563PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     17000 | PA      | $16700.80     | 0.24%             | 2031-02-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GOODMAN HK FINANCE                        | Goodman HK Finance                                                               | CUSIP: 000000000<br>LEI: 213800SL4LTTO1S5AU13 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $180826.00    | 2.61%             | 2030-07-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                    | Anglo American Capital PLC                                                       | CUSIP: 034863AX8<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |      8000 | PA      | $7084.00      | 0.10%             | 2030-09-10      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                      | YPF SA                                                                           | CUSIP: 984245AX8<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     49000 | PA      | $50960.00     | 0.74%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                      | YPF SA                                                                           | CUSIP: 000000000<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     18000 | PA      | $17919.00     | 0.26%             | 2027-07-21      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| MAF GLOBAL SECURITIES                     | MAF Global Securities Ltd                                                        | CUSIP: 000000000<br>LEI: 54930037VUDNYTS17017 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $205237.50    | 2.96%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN CAPITAL                    | Anglo American Capital PLC                                                       | CUSIP: 000000000<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |      7000 | PA      | $6198.50      | 0.09%             | 2030-09-10      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| GRUPO AEROMEXICO SAB                      | Grupo Aeromexico SAB de CV                                                       | CUSIP: 40054JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     73000 | PA      | $66863.62     | 0.97%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                       | Suzano Austria GmbH                                                              | CUSIP: 86964WAJ1<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     40000 | PA      | $36183.00     | 0.52%             | 2031-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY CO ISSUE                      | Star Energy Geothermal Darajat II / Star Energy Geothermal Salak                 | CUSIP: 85513LAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      4000 | PA      | $3716.40      | 0.05%             | 2038-10-14      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                              | Energean PLC                                                                     | CUSIP: 000000000<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |     10000 | PA      | $9806.25      | 0.14%             | 2027-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                  | Azule Energy Finance Plc                                                         | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |     46000 | PA      | $44778.24     | 0.65%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTIO                  | Yinson Boronia Production BV                                                     | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |     51541 | PA      | $53635.49     | 0.77%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                       | Braskem Netherlands Finance BV                                                   | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     54000 | PA      | $44496.00     | 0.64%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| METINVEST BV                              | Metinvest BV                                                                     | CUSIP: 591555AF4<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |     51000 | PA      | $39270.00     | 0.57%             | 2029-10-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CAPITAL BV                          | Royal Capital BV                                                                 | CUSIP: 000000000<br>LEI: 72450057BWJ6BYW0TI63 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $198130.00    | 2.86%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANCO GNB SUDAMERIS SA                    | Banco GNB Sudameris SA                                                           | CUSIP: 059593AE3<br>LEI: 549300SO7QUETMQD9D84 | Long             | DBT              | CORP              | CO        |     36000 | PA      | $34979.04     | 0.51%             | 2031-04-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                     | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     21000 | PA      | $20139.00     | 0.29%             | 2028-07-21      | Fixed         | 5.75%                 | 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        |     32000 | PA      | $31640.00     | 0.46%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA                  | LD Celulose International GmbH                                                   | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |     25000 | PA      | $25771.88     | 0.37%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| ORLEN SA                                  | ORLEN SA                                                                         | CUSIP: 68666UAA3<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |     83000 | PA      | $83726.25     | 1.21%             | 2035-01-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                       | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |     25000 | PA      | $19574.44     | 0.28%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                  | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 000000000<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |     17000 | PA      | $16362.50     | 0.24%             | 2031-10-04      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TSMC GLOBAL LTD                           | TSMC Global Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300N2ZLI21P85T117 | Long             | DBT              | CORP              | VG        |     39000 | PA      | $34330.92     | 0.50%             | 2031-04-23      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                           | IHS Holding Ltd                                                                  | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     44000 | PA      | $43738.64     | 0.63%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                         | Kosmos Energy Ltd                                                                | CUSIP: 000000000<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26057.40     | 0.38%             | 2027-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SHINHAN FINANCIAL GROUP                   | Shinhan Financial Group Co Ltd                                                   | CUSIP: 824596AA8<br>LEI: 988400EB8A6G49E5KO54 | Long             | DBT              | CORP              | KR        |     53000 | PA      | $51410.00     | 0.74%             | N/A             | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                 | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |     22000 | PA      | $18940.98     | 0.27%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| MEDCO BELL PTE LTD                        | Medco Bell Pte Ltd                                                               | CUSIP: 000000000<br>LEI: 2549003PNDCWIWGKC768 | Long             | DBT              | CORP              | SG        |     70000 | PA      | $69867.00     | 1.01%             | 2027-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                         | Vedanta Resources Finance II PLC                                                 | CUSIP: 92243XAJ0<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |     23000 | PA      | $23146.74     | 0.33%             | 2028-06-03      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA                      | Sitios Latinoamerica SAB de CV                                                   | CUSIP: 03217KAB4<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |     19000 | PA      | $18059.50     | 0.26%             | 2032-04-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                         | Kosmos Energy Ltd                                                                | CUSIP: 000000000<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     11000 | PA      | $8982.16      | 0.13%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                     | Freeport Indonesia PT                                                            | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |     34000 | PA      | $32540.55     | 0.47%             | 2052-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                  | OCP SA                                                                           | CUSIP: 67091TAJ4<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |     18000 | PA      | $17681.63     | 0.26%             | 2036-03-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| GC TREASURY CENTRE CO                     | GC Treasury Center Co Ltd                                                        | CUSIP: 36830DAC5<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |    100000 | PA      | $68938.00     | 1.00%             | 2051-03-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                        | Saavi Energia Sarl                                                               | CUSIP: 78518PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     25000 | PA      | $25450.00     | 0.37%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LTD                       | Shriram Finance Ltd                                                              | CUSIP: 82556FAB8<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |     20000 | PA      | $19775.00     | 0.29%             | 2028-04-03      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                           | Cemex SAB de CV                                                                  | CUSIP: 151290CA9<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |     47000 | PA      | $46365.50     | 0.67%             | N/A             | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VISTA OIL & GAS ARGENTIN                  | Vista Energy Argentina SAU                                                       | CUSIP: 92841RAA8<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |     18000 | PA      | $17345.70     | 0.25%             | 2035-12-10      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ENERGO PRO AS                             | Energo-Pro AS                                                                    | CUSIP: 000000000<br>LEI: 315700IQCL9IX158RO36 | Long             | DBT              | CORP              | CZ        |    100000 | PA      | $115532.04    | 1.67%             | 2030-05-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GRAN TIERRA ENERGY INC                    | Gran Tierra Energy Inc                                                           | CUSIP: 38500TAC5<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |     61000 | PA      | $42700.00     | 0.62%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-22

**Name of Applicant:** Virtus Opportunities Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer