# EDGAR Filing Document

**Accession Number:** 0001411674
**File Stem:** 0001193125-25-292352
**Filing Date:** 2025-11
**Character Count:** 70051
**Document Hash:** fd475f1664168c1a64a76f6d03a60477
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-292352.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001193125-25-292352

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Core Trust III
- **CENTRAL INDEX KEY:** 0001411674

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22217
- **FILM NUMBER:** 251509932

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086
- **BUSINESS PHONE:** 412-288-1900

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Core Trust III
- **DATE OF NAME CHANGE:** 20200617

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Hermes Core Trust III
- **DATE OF NAME CHANGE:** 20200615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Core Trust III
- **DATE OF NAME CHANGE:** 20070906

## Series and Classes Contracts Data

### Project and Trade Finance Core Fund (Series ID: S000023593)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000069418 | Project and Trade Finance Core Fund |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Core Trust III

- **b. Investment Company Act file number:** 811-22217

- **c. CIK number of Registrant:** 0001411674

- **d. LEI of Registrant:** 254900X6T65G9IXDZR26

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Project and Trade Finance Core Fund

- **b. EDGAR series identifier (if any):** S000023593

- **c. LEI of Series:** 549300HEVNTSTCP23713

**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:** $1383753226.83

**Total Liabilities:** $14153654.95

**Net Assets:** $1369599571.88

**Cash Not Reported:** $10019523.52

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -11.322715000000 | **1-Year:** -464.528565000000 | **5-Year:** -3700.208740000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** -12707.959059000000 | **1-Year:** -87394.630127000000 | **5-Year:** -152242.609658000000 | **10-Year:** -13149.259860000000 | **30-Year:** -0.001744000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069418 | 0.91%                | 0.58%                | 0.78%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $550558.14               | $-5271868.16                               |
| Month 2  | $103955.31               | $6132439.65                                |
| Month 3  | $-5095195.35             | $7773854.77                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio is the Fund's Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Avolon TLB Borrower 1 US LLC                                             | Avolon TLB Borrower 1 US LLC2023 Term Loan B6                                                                             | CUSIP: 05400KAJ9<br>LEI: 635400O84AGITYFZQB55 | Long             | LON              | CORP              | US        |     9925000 | PA      | $9925000.00   | 0.72%             | 2030-06-24      | Floating      | 5.89%                 | Yes           | 3                  | On Loan: No      |
| State Street Bank & Trust Co.                                            | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $-52284.86    | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                                            | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $655.84       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Standard Chartered Bank                                                  | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |           1 | NC      | $-70722.13    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                                            | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $13614.27     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| State Street Bank & Trust Co.                                            | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $37939.11     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Toronto-Dominion Bank                                                    | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              |  | US        |           1 | NC      | $332075.99    | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Vicentin S.A.I.C.                                                        | VICENTIN S.A.I.C. PRE EXPORT TERM LOAN                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AR        |           1 | PA      | $0.00         | 0.00%             | 2099-12-31      | Floating      | 11.58%                | Yes           | 3                  | On Loan: No      |
| Government of The Republic of Kenya Acting through The National Treasury | Government of The Republic of Kenya Acting through The National Treasury 2019 Syndicated Term Loan facility               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | KE        |     1397727 | PA      | $1397727.29   | 0.10%             | 2026-03-04      | Floating      | 10.92%                | Yes           | 3                  | On Loan: No      |
| Vicentin SAIC                                                            | Vicentin S.A.I.C. Pre-Export Term Loan Tranche B                                                                          | CUSIP: 000000000<br>LEI: 5493001CQIPQS54GIP50 | Long             | LON              | CORP              | AR        |           1 | PA      | $0.00         | 0.00%             | 2025-12-31      | Floating      | 11.59%                | Yes           | 3                  | On Loan: No      |
| PT Maxpower Indonesia                                                    | PT MAXPOWER INDONESIA 2019 IDR RESTRUCTURED TL                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ID        | 82779746312 | PA      | $4967281.51   | 0.36%             | 2039-06-10      | Fixed         | 7.75%                 | Yes           | 3                  | On Loan: No      |
| The Sharjah Electricity and Water Authority                              | The Sharjah Electricity and Water Authority 2020 Term Loan                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AE        |     1076923 | PA      | $1076923.07   | 0.08%             | 2025-12-23      | Floating      | 6.61%                 | Yes           | 3                  | On Loan: No      |
| PT Maxpower Indonesia                                                    | PT MAXPOWER INDONESIA 2019 IDR RESTRUCTURED PIK TL                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ID        | 31624365534 | PA      | $1897651.70   | 0.14%             | 2039-06-10      | Variable      | 6.33%                 | Yes           | 3                  | On Loan: No      |
| CC Energy Development Limited - BVI Incorporated                         | CC Energy Development Limited - BVI Incorporated Borrowing Base Facility                                                  | CUSIP: 000000000<br>LEI: 3003002B8IFJYQS02Y36 | Long             | LON              | CORP              | OM        |    14000000 | PA      | $14000000.00  | 1.02%             | 2030-12-31      | Floating      | 8.39%                 | Yes           | 3                  | On Loan: No      |
| Carmo Energy SA (Carmo) Brazil                                           | Carmo Energy SA (Carmo) Brazil Term Loan                                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | BR        |    14500000 | PA      | $14500000.01  | 1.06%             | 2029-12-22      | Floating      | 7.08%                 | Yes           | 3                  | On Loan: No      |
| Eesti Energia AS                                                         | Eesti Energia AS EUR Term Loan                                                                                            | CUSIP: 000000000<br>LEI: 5493005044RTLQ5RZU70 | Long             | LON              | CORP              | EE        |     6285680 | PA      | $7379706.77   | 0.54%             | 2028-05-11      | Floating      | 6.60%                 | Yes           | 3                  | On Loan: No      |
| Egyptian Ethylene & Derivatives Company SAE                              | Egyptian Ethylene & Derivatives Company SAE Term Loan                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | EG        |     3227500 | PA      | $3227499.99   | 0.24%             | 2028-09-13      | Floating      | 8.04%                 | Yes           | 3                  | On Loan: No      |
| Alfa Lula Alto SARL                                                      | Alfa Lula Alto SARL Term Loan Tranche A                                                                                   | CUSIP: 000000000<br>LEI: 549300EXUOF3G2SCPA35 | Long             | LON              | CORP              | BR        |     8648089 | PA      | $8821501.10   | 0.64%             | 2028-01-15      | Floating      | 6.70%                 | Yes           | 3                  | On Loan: No      |
| Alfa Lula Alto SARL                                                      | Alfa Lula Alto SARL Term Loan Tranche B                                                                                   | CUSIP: 000000000<br>LEI: 549300EXUOF3G2SCPA35 | Long             | LON              | CORP              | BR        |     3135961 | PA      | $3215280.12   | 0.23%             | 2029-12-15      | Floating      | 6.87%                 | Yes           | 3                  | On Loan: No      |
| Phoenix Tower International (PTI) Iberica V, NewCo                       | Phoenix Tower International (PTI) Iberica V, NewCo EUR Acquisition/Capex Term Loan                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IT        |     9700000 | PA      | $11849003.62  | 0.87%             | 2030-10-25      | Floating      | 4.81%                 | Yes           | 3                  | On Loan: No      |
| Medina Partnership, S.A.                                                 | Medina Partnership, S.A. EUR Term Loan                                                                                    | CUSIP: 000000000<br>LEI: 95980009Z4RBNZPHLM09 | Long             | LON              | CORP              | ES        |     5832182 | PA      | $6837583.08   | 0.50%             | 2029-04-30      | Floating      | 5.03%                 | Yes           | 3                  | On Loan: No      |
| Beta Lula Central SARL (Lux Incorporated)                                | Beta Lula Central SARL (Lux Inc) Term Loan                                                                                | CUSIP: 000000000<br>LEI: 549300RHAL8DJFKKRG68 | Long             | LON              | CORP              | BR        |    12164672 | PA      | $12355687.64  | 0.90%             | 2030-06-15      | Floating      | 6.96%                 | Yes           | 3                  | On Loan: No      |
| Qatar Electricity and Water Company Q.P.S.C                              | Qatar Electricity and Water Company QPSC Term Loan                                                                        | CUSIP: 000000000<br>LEI: 25490013GYOH69GNID36 | Long             | LON              | CORP              | QA        |     7355715 | PA      | $7297578.93   | 0.53%             | 2027-06-30      | Floating      | 5.33%                 | Yes           | 3                  | On Loan: No      |
| State Street Bank & Trust Co.                                            | PURCHASED USD / SOLD GBP                                                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $3590.85      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Standard Chartered Bank                                                  | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |           1 | NC      | $-77645.86    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Heritage Petroleum Company Limited                                       | Heritage Petroleum Company Limited Term Loan                                                                              | CUSIP: 000000000<br>LEI: 25490055MYPABN06OA04 | Long             | LON              | CORP              | TT        |    14539047 | PA      | $14539047.31  | 1.06%             | 2029-05-05      | Floating      | 9.55%                 | Yes           | 3                  | On Loan: No      |
| Ten Ghana MV25 B.V.                                                      | Ten Ghana MV25 BV Term Loan                                                                                               | CUSIP: 000000000<br>LEI: 5493006FDLBIFXFO2L56 | Long             | LON              | CORP              | GH        |     6235535 | PA      | $5842533.75   | 0.43%             | 2026-03-15      | Floating      | 7.74%                 | Yes           | 3                  | On Loan: No      |
| Republic of Cote d'Ivoire The                                            | Republic of Cote d'Ivoire The 2024 EUR Upsize Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | CI        |    12500000 | PA      | $14675633.28  | 1.07%             | 2026-03-09      | Floating      | 5.15%                 | Yes           | 3                  | On Loan: No      |
| BlueNord Energy Denmark AS                                               | BLUENORD ENERGY DENMARK AS TERM LOAN                                                                                      | CUSIP: 000000000<br>LEI: 213800GRFGOYKMAT8217 | Long             | LON              | CORP              | DK        |    11739130 | PA      | $11739130.43  | 0.86%             | 2029-12-31      | Floating      | 8.17%                 | Yes           | 3                  | On Loan: No      |
| Eastern and Southern African Trade and Development Bank                  | Eastern and Southern African Trade and Development Bank 2023 Tranche A-1 Term Loan                                        | CUSIP: 000000000<br>LEI: 2138004HC83AB2ENIZ64 | Long             | LON              | CORP              | ZA        |     2000000 | PA      | $1998675.24   | 0.15%             | 2025-11-23      | Floating      | 5.91%                 | Yes           | 3                  | On Loan: No      |
| HTA Group Ltd                                                            | HTA GROUP LTD 2024 TRANCHE C TERM LOAN                                                                                    | CUSIP: 000000000<br>LEI: 213800WEFU8O8X6EPU13 | Long             | LON              | CORP              | US        |     8200000 | PA      | $8196255.06   | 0.60%             | 2028-09-13      | Floating      | 8.82%                 | Yes           | 3                  | On Loan: No      |
| Republic of Cote d'Ivoire The                                            | Republic of Cote d'Ivoire The 2020 EUR 7-Year Syndicated Term Loan                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | CI        |     5625000 | PA      | $6604034.98   | 0.48%             | 2028-01-08      | Floating      | 7.78%                 | Yes           | 3                  | On Loan: No      |
| NATIONAL BANK OF EGYPT                                                   | National Bank of Egypt 2024 1st Lien Deferred Payment LC                                                                  | CUSIP: 000000000<br>LEI: 2138001QZGOK42KGQM03 | Long             | LON              | CORP              | EG        |    14500000 | PA      | $14500000.00  | 1.06%             | 2026-06-03      | Floating      | 6.17%                 | Yes           | 3                  | On Loan: No      |
| TRAFIGURA PTE LTD                                                        | Trafigura PTE LTD2023 Uncommitted Trade Finance Facility                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |    20625000 | PA      | $20676799.72  | 1.51%             | 2026-06-30      | Floating      | 5.66%                 | Yes           | 3                  | On Loan: No      |
| PETROLEOS DEL PERU                                                       | PETROLEOS DEL PERU 2023 TERM LOAN                                                                                         | CUSIP: 000000000<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | LON              | CORP              | PE        |    17000000 | PA      | $17045153.48  | 1.24%             | 2025-11-13      | Floating      | 9.59%                 | Yes           | 3                  | On Loan: No      |
| Credit Agricole CIB                                                      | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | N/A              | DFE              |  | US        |           1 | NC      | $-82415.08    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Toronto-Dominion Bank                                                    | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              |  | US        |           1 | NC      | $-73536.11    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Ministry of Finance of the Kingdom of Saudi Arabia                       | Ministry of Finance of the Kingdom of Saudi ArabiaSAR Tawarruq Facility                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SA        |    25493461 | PA      | $5778209.62   | 0.42%             | 2035-01-31      | Floating      | 5.33%                 | Yes           | 3                  | On Loan: No      |
| Joint Stock Commercial Bank Agrobank                                     | Joint Stock Commercial Bank Agrobank2024 1st Lien Tranche A Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |    11000000 | PA      | $11000000.00  | 0.80%             | 2025-11-25      | Floating      | 7.39%                 | Yes           | 3                  | On Loan: No      |
| GY-DW-UK-IV Limited                                                      | GY-DW-UK-IV LimitedSenior Secured Project Financing                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |    19691776 | PA      | $19654694.41  | 1.44%             | 2028-08-14      | Floating      | 6.10%                 | Yes           | N/A                | On Loan: No      |
| Caliche Development Partners III LLC, SPV                                | Caliche Development Partners III LLC, SPV Senior Secured Term Loan                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     9584696 | PA      | $9576956.71   | 0.70%             | 2029-10-01      | Floating      | 6.37%                 | Yes           | N/A                | On Loan: No      |
| Harmony Gold Mining Company Limited                                      | HARMONY GOLD MINING COMP LTD TERM LOAN                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ZA        |    13000000 | PA      | $13000000.00  | 0.95%             | 2027-05-31      | Floating      | 7.21%                 | Yes           | 3                  | On Loan: No      |
| IHS Zambia                                                               | IHS Zambia 2021 Term Loan                                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ZM        |     8653846 | PA      | $8890065.89   | 0.65%             | 2027-12-15      | Floating      | 9.58%                 | Yes           | 3                  | On Loan: No      |
| BANK OF INDUSTRY LIMITED                                                 | Bank of Industry Limited2024 3 Year Syndicated AFC Term Loan                                                              | CUSIP: 000000000<br>LEI: 5493006N5JD4B34R6G14 | Long             | LON              | CORP              | NG        |    10000000 | PA      | $10000000.00  | 0.73%             | 2027-09-30      | Floating      | 6.39%                 | Yes           | N/A                | On Loan: No      |
| Dobson Technologies, Inc                                                 | Dobson Technologies, IncTerm Loan                                                                                         | CUSIP: 000000000<br>LEI: 549300I3VRNSI6JUXB69 | Long             | LON              | CORP              | US        |    17045625 | PA      | $16905807.92  | 1.23%             | 2029-09-26      | Floating      | 8.09%                 | Yes           | N/A                | On Loan: No      |
| JSC UzAuto Motors                                                        | JSC UzAuto Motors 2023 Unsecured Syndicated Term Loan                                                                     | CUSIP: 000000000<br>LEI: 25490082QA3E2MKBZI88 | Long             | LON              | CORP              | XX        |     2400000 | PA      | $2400000.00   | 0.18%             | 2026-08-24      | Floating      | 8.51%                 | Yes           | 3                  | On Loan: No      |
| Republic of Senegal Ministry of Finance and Budget                       | Republic of Senegal Ministry of Finance and Budget 2023 EUR 1st Lien Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | XX        |    12250000 | PA      | $13718412.35  | 1.00%             | 2028-12-22      | Floating      | 7.87%                 | Yes           | 3                  | On Loan: No      |
| Maher Terminal LLC                                                       | Maher Terminal LLC Senior Secured Term Loan                                                                               | CUSIP: 000000000<br>LEI: 5493003O33D623BOS892 | Long             | LON              | CORP              | US        |    11000000 | PA      | $11000000.00  | 0.80%             | 2025-11-17      | Floating      | 6.91%                 | Yes           | 3                  | On Loan: No      |
| Marfrig Global Foods SA                                                  | Marfrig Global Foods SA Advance on Foreign Exchange Contracts Term Loan                                                   | CUSIP: 000000000<br>LEI: 391200219USWMOBN3F92 | Long             | LON              | CORP              | BR        |    17000000 | PA      | $17063292.53  | 1.25%             | 2026-04-27      | Floating      | 5.94%                 | Yes           | 3                  | On Loan: No      |
| Ministry of Finance of Tanzania                                          | Ministry of Finance of Tanzania 2019 Term Loan                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | TZ        |     4000000 | PA      | $4000000.00   | 0.29%             | 2026-08-09      | Floating      | 10.44%                | Yes           | 3                  | On Loan: No      |
| Puma International Financing S.A.                                        | Puma International Financing S.A. 2024 Sustainability Linked Term Loan                                                    | CUSIP: 000000000<br>LEI: 222100YFBPO7IDRUBR17 | Long             | LON              | CORP              | LU        |    17981818 | PA      | $17960217.88  | 1.31%             | 2028-06-04      | Floating      | 6.35%                 | Yes           | 3                  | On Loan: No      |
| State Street Bank & Trust Co.                                            | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |           1 | NC      | $173332.83    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                                        | PURCHASED USD / SOLD IDR                                                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |           1 | NC      | $14731.56     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Turkiye Vakiflar Bankasi TAO, Istanbul                                   | Turkiye Vakiflar Bankasi TAO, Istanbul2024 Term Loan                                                                      | CUSIP: 000000000<br>LEI: 789000KAIHOLSQKQ9858 | Long             | LON              | CORP              | TR        |     9400000 | PA      | $9184783.15   | 0.67%             | 2026-02-17      | Floating      | 5.95%                 | Yes           | N/A                | On Loan: No      |
| THE REPUBLIC OF ANGOLA                                                   | The Republic of Angola2024 Short -Term Loan                                                                               | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | LON              | NUSS              | XX        |     6750000 | PA      | $6750000.00   | 0.49%             | 2025-12-11      | Floating      | 10.06%                | Yes           | N/A                | On Loan: No      |
| Government of Arab Republic of Egypt EGY-228 (GASC)                      | Government of Arab Republic of Egypt EGY-228 (GASC) Syndicated ITFC Murabaha facility (EGY/0228)                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | EG        |      811227 | PA      | $811227.35    | 0.06%             | 2026-06-01      | Floating      | 8.24%                 | Yes           | 3                  | On Loan: No      |
| Tillman Infrastructure ABS SUB 1, LLC                                    | Tillman Infrastructure ABS SUB 1, LLC Term Loan Tranche A                                                                 | CUSIP: 000000000<br>LEI: 549300QY0CJBJHW55V24 | Long             | LON              | CORP              | US        |    11000000 | PA      | $11066576.18  | 0.81%             | 2029-04-23      | Floating      | 7.32%                 | Yes           | 3                  | On Loan: No      |
| Telekom Srbija a. d. Beograd                                             | Telekom Srbija a. d. Beograd2024 EUR Term Loan                                                                            | CUSIP: 000000000<br>LEI: 254900OVY0XI1DFYC092 | Long             | LON              | CORP              | RS        |    10400000 | PA      | $12279514.11  | 0.90%             | 2029-12-05      | Floating      | 5.57%                 | Yes           | 3                  | On Loan: No      |
| TAAG - Linhas Aereas de Angola                                           | TAAG - Linhas Aereas de AngolaPre-Delivery Payments Financing Facility                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |    18500000 | PA      | $18500000.00  | 1.35%             | 2025-09-02      | Floating      | 9.31%                 | Yes           | 3                  | On Loan: No      |
| YECO LEASING LIMITED                                                     | Yeco Leasing LimitedSenior Secured Portfolio Aircraft Financing                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    24098898 | PA      | $24098897.86  | 1.76%             | 2029-12-15      | Floating      | 6.33%                 | Yes           | 3                  | On Loan: No      |
| African Export-Import Bank                                               | African Export-Import Bank2025 Syndicated ITFC Murabaha facility (REG-209)                                                | CUSIP: 000000000<br>LEI: 21380068LJCDYA42GJ76 | Long             | LON              | CORP              | EG        |     6000000 | PA      | $6000000.00   | 0.44%             | 2026-05-18      | Floating      | 4.94%                 | Yes           | 3                  | On Loan: No      |
| GLENCORE INTERNATIONAL AG                                                | Glencore International AG2023 Term Loan                                                                                   | CUSIP: 000000000<br>LEI: 213800PSSU2QXF1WLR89 | Long             | LON              | CORP              | CH        |    15934123 | PA      | $16005057.80  | 1.17%             | 2029-12-31      | Floating      | 7.00%                 | Yes           | 3                  | On Loan: No      |
| T.C. Ziraat Bankasi A.S.                                                 | T.C. Ziraat Bankasi A.S.2025 USD Dual Currency Term Loan                                                                  | CUSIP: 000000000<br>LEI: 213800K5KTZFSUS8MR51 | Long             | LON              | CORP              | TR        |    15000000 | PA      | $14968703.40  | 1.09%             | 2026-05-25      | Floating      | 5.42%                 | Yes           | 3                  | On Loan: No      |
| Turkiye Vakiflar Bankasi TAO, Istanbul                                   | Turkiye Vakiflar Bankasi TAO, Istanbul2025 Dual Currency Term Loan                                                        | CUSIP: 000000000<br>LEI: 789000KAIHOLSQKQ9858 | Long             | LON              | CORP              | TR        |    10000000 | PA      | $9973911.20   | 0.73%             | 2026-06-08      | Floating      | 5.43%                 | Yes           | 3                  | On Loan: No      |
| LEOPARD FUNDING LIMITED                                                  | LEOPARD FUNDING LIMITEDPre Export Finance Facility                                                                        | CUSIP: 000000000<br>LEI: 254900V8VSBF43LD7986 | Long             | LON              | CORP              | NG        |     8270270 | PA      | $8305825.65   | 0.61%             | 2029-09-17      | Floating      | 10.29%                | Yes           | 3                  | On Loan: No      |
| NIGERIA LNG LIMITED                                                      | Nigeria LNG LimitedCommercial Term Loan                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NG        |    10208658 | PA      | $10054007.49  | 0.73%             | 2029-03-31      | Floating      | 8.01%                 | Yes           | 3                  | On Loan: No      |
| TURK EXIMBANK                                                            | Turk Eximbank2024 EUR Term Loan                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | TR        |    10000000 | PA      | $11735421.58  | 0.86%             | 2025-11-13      | Floating      | 3.15%                 | Yes           | 3                  | On Loan: No      |
| Impala Terminals Switzerland SAR                                         | Impala Terminals Switzerland SAR2024 Term Loan                                                                            | CUSIP: 000000000<br>LEI: 549300JKGMD4GU0YOP29 | Long             | LON              | CORP              | CH        |    30000000 | PA      | $30000000.00  | 2.19%             | 2028-07-21      | Floating      | 6.52%                 | Yes           | 3                  | On Loan: No      |
| African Export-Import Bank                                               | African Export-Import Bank2024 Syndicated Commercial Facility                                                             | CUSIP: 000000000<br>LEI: 21380068LJCDYA42GJ76 | Long             | LON              | CORP              | EG        |    17000000 | PA      | $17000000.00  | 1.24%             | 2025-12-13      | Floating      | 5.59%                 | Yes           | 3                  | On Loan: No      |
| Federated Government Obligations Fund                                    | Federated Hermes Government Obligations Fund                                                                              | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |    64221089 | NS      | $64221088.57  | 4.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Navoi Mining and Metallurgical Company                                   | Navoi Mining and Metallurgical Company Unsecured Term Loan                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |     2718197 | PA      | $2718197.15   | 0.20%             | 2027-04-20      | Floating      | 9.09%                 | Yes           | 3                  | On Loan: No      |
| Sonasing Xikomba Limited                                                 | Sonasing Xikomba Limited Term Loan                                                                                        | CUSIP: 000000000<br>LEI: 5493002VK80U0VQRT352 | Long             | LON              | CORP              | XX        |     8738862 | PA      | $8738861.98   | 0.64%             | 2026-05-29      | Floating      | 6.91%                 | Yes           | 3                  | On Loan: No      |
| Papua New Guinea Liquefied Natural Gas Global Company LDC                | Papua New Guinea Liquefied Natural Gas Global Company LDC 2013 Supplemental Senior Debt Uncovered Bank Term Loan Facility | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | PG        |      410619 | PA      | $410618.71    | 0.03%             | 2026-06-15      | Floating      | 8.44%                 | Yes           | 3                  | On Loan: No      |
| Edrill T15 PTE.LTD                                                       | Edrill T15 PTE.LTDTranche B Term Loan                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | TH        |     3325000 | PA      | $3309692.46   | 0.24%             | 2028-02-29      | Floating      | 7.88%                 | Yes           | 3                  | On Loan: No      |
| THE REPUBLIC OF ANGOLA                                                   | THE REPUBLIC OF ANGOLA 2022 EUR TERM LOAN 1                                                                               | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | LON              | NUSS              | XX        |     1052239 | PA      | $1219260.59   | 0.09%             | 2027-03-03      | Floating      | 6.34%                 | Yes           | 3                  | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                        | Venture Global Calcasieu Pass, LLC Term Loan                                                                              | CUSIP: 000000000<br>LEI: 549300GKHS6RS20NLH85 | Long             | LON              | CORP              | US        |    18337351 | PA      | $18337350.67  | 1.34%             | 2026-08-19      | Floating      | 7.14%                 | Yes           | 3                  | On Loan: No      |
| TRANSNET SOC LTD                                                         | Transnet SOC LtdTerm Loan                                                                                                 | CUSIP: 000000000<br>LEI: 378900B07CD6F01EA796 | Long             | LON              | CORP              | ZA        |    13433333 | PA      | $13433333.34  | 0.98%             | 2027-06-21      | Floating      | 8.97%                 | Yes           | N/A                | On Loan: No      |
| Telekom Srbija a. d. Beograd                                             | Telekom Srbija a. d. Beograd2025 EUR Term Loan                                                                            | CUSIP: 000000000<br>LEI: 254900OVY0XI1DFYC092 | Long             | LON              | CORP              | RS        |     6000000 | PA      | $7083044.69   | 0.52%             | 2028-07-03      | Floating      | 7.85%                 | Yes           | 3                  | On Loan: No      |
| Government of Arab Republic of Egypt EGY/0231                            | Government of Arab Republic of Egypt EGY/0231Syndicated ITFC Murabaha facility (EGY/0231)                                 | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | LON              | NUSS              | EG        |     1316049 | PA      | $1316048.99   | 0.10%             | 2026-09-21      | Floating      | 7.06%                 | Yes           | 3                  | On Loan: No      |
| Northern Hydrocarbon Funding Limited (NH)                                | Northern Hydrocarbon Funding Limited (NH)Pre Export Finance debt Facility                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NG        |    18882682 | PA      | $18949222.05  | 1.38%             | 2029-09-30      | Floating      | 9.54%                 | Yes           | 3                  | On Loan: No      |
| Glencore International AG                                                | Glencore International AG 2022 Term Loan                                                                                  | CUSIP: 000000000<br>LEI: 213800PSSU2QXF1WLR89 | Long             | LON              | CORP              | CH        |    16016806 | PA      | $15848737.27  | 1.16%             | 2027-12-31      | Floating      | 6.66%                 | Yes           | 3                  | On Loan: No      |
| Prime Oil and Gas Cooperatief UA                                         | Prime Oil and Gas Cooperatief UA Revolver                                                                                 | CUSIP: 000000000<br>LEI: 549300TOUWS8F4NPOG76 | Long             | LON              | CORP              | NG        |     9344444 | PA      | $9310294.79   | 0.68%             | 2029-06-30      | Floating      | 8.41%                 | Yes           | 3                  | On Loan: No      |
| Egyptian General Petroleum Company (EGPC)                                | Egyptian General Petroleum Company (EGPC)Syndicated ITFC Murabaha facility (EGY/0229)                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | EG        |     1901500 | PA      | $1901500.00   | 0.14%             | 2025-10-23      | Floating      | 8.10%                 | Yes           | 3                  | On Loan: No      |
| TURK EXIMBANK                                                            | Turk Eximbank2024 USD Term Loan                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | TR        |    15000000 | PA      | $15000000.00  | 1.10%             | 2025-12-29      | Floating      | 5.46%                 | Yes           | 3                  | On Loan: No      |
| JOINT STOCK COMPANY ASAKABANK                                            | Joint Stock Company Asakabank2025 Syndicated Term Loan                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |    13600000 | PA      | $13600000.00  | 0.99%             | 2026-04-29      | Floating      | 6.63%                 | Yes           | 3                  | On Loan: No      |
| ISLAMIC REPUBLIC OF PAKISTAN                                             | ISLAMIC REPUBLIC OF PAKISTAN2025 Term Loan (PAK-216)                                                                      | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | LON              | NUSS              | PK        |     9513506 | PA      | $9702546.71   | 0.71%             | 2026-08-24      | Floating      | 7.88%                 | Yes           | 3                  | On Loan: No      |
| Republic of Cote d'Ivoire The                                            | Republic of Cote d'Ivoire The2025 EUR 12 M Short Unsecured Syndicated Term Loan                                           | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | LON              | NUSS              | CI        |    18000000 | PA      | $21132911.93  | 1.54%             | 2026-07-14      | Floating      | 4.92%                 | Yes           | 3                  | On Loan: No      |
| Tartaruga MV29 B.V.                                                      | Tartaruga MV29 B.V.Term Loan                                                                                              | CUSIP: 000000000<br>LEI: 724500Z80MK53W5EQU19 | Long             | LON              | CORP              | NL        |    22289027 | PA      | $22273444.81  | 1.63%             | 2032-03-15      | Floating      | 6.76%                 | Yes           | 3                  | On Loan: No      |
| NEO ENERGY GROUP LIMITED                                                 | NEO Energy Group Limited2025 Term Loan                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |    16161158 | PA      | $16161158.34  | 1.18%             | 2031-06-30      | Floating      | 8.63%                 | Yes           | 3                  | On Loan: No      |
| JSC ALMALYK MMC                                                          | JSC Almalyk MMCEUR 5 Years Senior Unsecured Term Loan                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |     9400000 | PA      | $11036076.23  | 0.81%             | 2030-02-23      | Floating      | 5.33%                 | Yes           | 3                  | On Loan: No      |
| EDRILL VENCEDOR PTE LTD                                                  | Edrill Vencedor Pte LtdTranche A Term Loan                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | TH        |     3680000 | PA      | $3663010.51   | 0.27%             | 2028-02-29      | Floating      | 7.88%                 | Yes           | 3                  | On Loan: No      |
| African Export-Import Bank                                               | AFRICAN EXPORT IMPORT BANK 2025 EUR SYNDICATED COM Facilities                                                             | CUSIP: 000000000<br>LEI: 21380068LJCDYA42GJ76 | Long             | LON              | CORP              | EG        |    13000000 | PA      | $15215301.64  | 1.11%             | 2026-02-27      | Floating      | 2.82%                 | Yes           | 3                  | On Loan: No      |
| P.M.I. Trading, DAC                                                      | PMI TRADING DAC SINGLE RECEIVABLE DISCOUNT TL4                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | MX        |    19223900 | PA      | $19083425.07  | 1.39%             | 2025-11-12      | Fixed         | 6.17%                 | Yes           | 3                  | On Loan: No      |
| Sonangol Finance Ltd.                                                    | Sonangol Finance Ltd. 2023 Term Loan                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |    11396078 | PA      | $11396078.44  | 0.83%             | 2027-09-30      | Floating      | 9.68%                 | Yes           | 3                  | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                       | Venture Global Plaquemines LNG LLC2024 Contingency Reserve Delayed Draw Term Loan                                         | CUSIP: 000000000<br>LEI: 549300TKP4I6OJ02BF90 | Long             | LON              | CORP              | US        |     1142539 | PA      | $1143967.17   | 0.08%             | 2029-05-25      | Floating      | 6.38%                 | Yes           | 2                  | On Loan: No      |
| ENERGIA MAYAKAN S DE RL DE CV                                            | Energia Mayakan S de RL de CVTerm Loan (2125M)                                                                            | CUSIP: 000000000<br>LEI: 2549004A4T5DABRBMJ37 | Long             | LON              | CORP              | MX        |     6051426 | PA      | $6051425.65   | 0.44%             | 2031-03-20      | Floating      | 6.91%                 | Yes           | 3                  | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                       | Venture Global Plaquemines LNG LLCBase Term Loan                                                                          | CUSIP: 000000000<br>LEI: 549300TKP4I6OJ02BF90 | Long             | LON              | CORP              | US        |     8984498 | PA      | $8995728.18   | 0.66%             | 2029-05-25      | Floating      | 6.38%                 | Yes           | 2                  | On Loan: No      |
| YINSON AZALEA PRODUCTION                                                 | Yinson Azalea Production Term Loan A                                                                                      | CUSIP: 000000000<br>LEI: 254900G6K1J3N945GS77 | Long             | LON              | CORP              | SG        |    11968885 | PA      | $11968885.10  | 0.87%             | 2032-03-31      | Floating      | 7.31%                 | Yes           | 3                  | On Loan: No      |
| Sonangol Finance Ltd.                                                    | Sonangol Finance Ltd.2021 Term Loan                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |     3797619 | PA      | $3797619.06   | 0.28%             | 2026-09-30      | Floating      | 9.52%                 | Yes           | 3                  | On Loan: No      |
| Republic of Cote d'Ivoire The                                            | Republic of Cote d'Ivoire The2025 EUR 12 M Short Syndicated Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | CI        |    25000000 | PA      | $29351266.57  | 2.14%             | 2026-03-18      | Floating      | 5.16%                 | Yes           | 3                  | On Loan: No      |
| BANK OF INDUSTRY LIMITED                                                 | Bank of Industry Limited2024 EUR 3 Year Syndicated AFC Term Loan                                                          | CUSIP: 000000000<br>LEI: 5493006N5JD4B34R6G14 | Long             | LON              | CORP              | NG        |     7000000 | PA      | $8215456.27   | 0.60%             | 2027-09-30      | Floating      | 4.24%                 | Yes           | 3                  | On Loan: No      |
| YAPI VE KREDI BANKASI AS                                                 | Yapi ve Kredi Bankasi AS2025 EUR Term Loan                                                                                | CUSIP: 000000000<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | LON              | CORP              | TR        |    15000000 | PA      | $17547589.79  | 1.28%             | 2026-06-15      | Floating      | 2.98%                 | Yes           | 3                  | On Loan: No      |
| IHS Holding Limited, Cayman Island Incorporation                         | IHS Holding Limited, Cayman Island Incorporation 2024 Unsecured Term Loan                                                 | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | LON              | CORP              | NG        |    10000000 | PA      | $10000000.00  | 0.73%             | 2029-10-07      | Floating      | 8.82%                 | Yes           | 3                  | On Loan: No      |
| Minister of Finance of Ukraine                                           | Minister of Finance of Ukraine EUR Senior Unsecured Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | UA        |     5000000 | PA      | $5034841.83   | 0.37%             | 2026-09-01      | Floating      | 6.18%                 | Yes           | 3                  | On Loan: No      |
| The Republic of Benin MOF 2                                              | The Republic of Benin MOF 2 EUR Term Loan                                                                                 | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | LON              | NUSS              | XX        |     8285714 | PA      | $9727848.34   | 0.71%             | 2027-04-30      | Floating      | 6.07%                 | Yes           | 3                  | On Loan: No      |
| Eastern and Southern African Trade and Development Bank                  | Eastern and Southern African Trade and Development Bank2024 USD Tranche B Term Loan                                       | CUSIP: 000000000<br>LEI: 2138004HC83AB2ENIZ64 | Long             | LON              | CORP              | ZA        |     6000000 | PA      | $5983793.70   | 0.44%             | 2027-12-16      | Floating      | 5.77%                 | Yes           | N/A                | On Loan: No      |
| PJSC Acron                                                               | PJSC Acron Syndicated Committed Pre-Export Finance Facility                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     2108096 | PA      | $2101782.50   | 0.15%             | 2026-05-18      | Floating      | 5.98%                 | Yes           | 3                  | On Loan: No      |
| VANTAGE TOWERS AG                                                        | Vantage Towers AGEUR Term Loan                                                                                            | CUSIP: 000000000<br>LEI: 213800BBQO965UPQ7J59 | Long             | LON              | CORP              | DE        |    10500000 | PA      | $12327531.96  | 0.90%             | 2030-03-21      | Floating      | 6.00%                 | Yes           | 3                  | On Loan: No      |
| ISLAMIC REPUBLIC OF PAKISTAN                                             | Islamic Republic of Pakistan2024 Term Loan (PAK-212)                                                                      | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | LON              | NUSS              | PK        |     9057267 | PA      | $9174795.44   | 0.67%             | 2025-12-01      | Floating      | 8.33%                 | Yes           | 3                  | On Loan: No      |
| Antin Elephant Bidco B.V                                                 | Antin Elephant Bidco B.VEUR Term Loan B                                                                                   | CUSIP: 000000000<br>LEI: 213800G9QN7P1DCM3137 | Long             | LON              | CORP              | NL        |    16003448 | PA      | $18671224.24  | 1.36%             | 2029-06-29      | Floating      | 4.37%                 | Yes           | 3                  | On Loan: No      |
| YAPI VE KREDI BANKASI AS                                                 | YAPI VE KREDI BANKASI AS2022 Fixed Term Loan                                                                              | CUSIP: 000000000<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | LON              | CORP              | TR        |    10405817 | PA      | $10028148.13  | 0.73%             | 2026-07-20      | Fixed         | 5.21%                 | Yes           | 3                  | On Loan: No      |
| BP OIL INTERNATIONAL LTD                                                 | BP OIL INTERNATIONAL LTD PREPAYMENT TERM LOAN                                                                             | CUSIP: 000000000<br>LEI: 549300YG7WG1HR9KGW98 | Long             | LON              | CORP              | GB        |    29000000 | PA      | $28999985.79  | 2.12%             | 2025-10-08      | Floating      | 4.53%                 | Yes           | 3                  | On Loan: No      |
| THE REPUBLIC OF ANGOLA                                                   | THE REPUBLIC OF ANGOLA 2024 EUR TERM LOAN                                                                                 | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | LON              | NUSS              | XX        |     3030067 | PA      | $3434115.86   | 0.25%             | 2029-03-08      | Floating      | 6.35%                 | Yes           | 3                  | On Loan: No      |
| Credit Agricole CIB                                                      | PURCHASED USD / SOLD EUR                                                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | N/A              | DFE              |  | US        |           1 | NC      | $-4605.49     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| State Oil Company of Azerbaijan Republic                                 | State Oil Company of Azerbaijan Republic 2021 Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |     6000000 | PA      | $6000000.00   | 0.44%             | 2026-08-11      | Floating      | 8.22%                 | Yes           | 3                  | On Loan: No      |
| International Beverage Tashkent                                          | International Beverage Tashkent Term Loan                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |    12114430 | PA      | $12114430.15  | 0.88%             | 2026-12-29      | Floating      | 9.09%                 | Yes           | 3                  | On Loan: No      |
| Azule Energy Holding Ltd                                                 | Azule Energy Holding Ltd Pre Export Term Loan                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | XX        |    25000000 | PA      | $25241897.75  | 1.84%             | 2029-07-29      | Floating      | 8.67%                 | Yes           | 3                  | On Loan: No      |
| Phoenix Tower International Chile SPA                                    | Phoenix Tower International Chile SPA PTI Americas Syndicated Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CL        |    13000000 | PA      | $13175084.39  | 0.96%             | 2027-08-10      | Floating      | 8.00%                 | Yes           | 3                  | On Loan: No      |
| Eastern and Southern African Trade and Development Bank                  | Eastern and Southern African Trade and Development Bank 2023 Tranche B 1 Term Loan                                        | CUSIP: 000000000<br>LEI: 2138004HC83AB2ENIZ64 | Long             | LON              | CORP              | ZA        |     5000000 | PA      | $5000000.00   | 0.37%             | 2026-11-23      | Floating      | 6.02%                 | Yes           | 3                  | On Loan: No      |
| TDC Net A/S                                                              | TDC Net A/S EUR Sustainability Linked Senior Term Loan                                                                    | CUSIP: 000000000<br>LEI: 549300SH2G3R15Y3FX20 | Long             | LON              | CORP              | DE        |    14250000 | PA      | $16730221.94  | 1.22%             | 2027-02-02      | Floating      | 4.47%                 | Yes           | 3                  | On Loan: No      |
| Republic of Senegal Ministry of Finance and Budget                       | Republic of Senegal Ministry of Finance and Budget 2023 EUR Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | NUSS              | XX        |    10000000 | PA      | $11676361.78  | 0.85%             | 2026-03-01      | Floating      | 6.85%                 | Yes           | 3                  | On Loan: No      |
| Phoenix Tower International (PTI) Iberica V, NewCo                       | Phoenix Tower International (PTI) Iberica V, NewCo EUR Refinancing Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IT        |     9800000 | PA      | $11971158.29  | 0.87%             | 2030-10-25      | Floating      | 4.81%                 | Yes           | 3                  | On Loan: No      |
| Gridiron Fiber Corp.                                                     | Gridiron Fiber Corp. 2023 Term Loan                                                                                       | CUSIP: 000000000<br>LEI: 254900FRDJ7U5ZYHHW28 | Long             | LON              | CORP              | US        |    13965000 | PA      | $13965000.00  | 1.02%             | 2032-04-01      | Floating      | 7.75%                 | Yes           | 3                  | On Loan: No      |
| Ithaca Energy (UK) Limited                                               | Ithaca Energy (UK) LimitedRBL Revolver                                                                                    | CUSIP: 000000000<br>LEI: 213800PNX6EV1XVAFR95 | Long             | LON              | CORP              | GB        |     3675000 | PA      | $3675000.00   | 0.27%             | 2029-12-31      | Floating      | 8.21%                 | Yes           | 3                  | On Loan: No      |
| Eastern and Southern African Trade and Development Bank                  | Eastern and Southern African Trade and Development Bank2024 USD Tranche A Term Loan                                       | CUSIP: 000000000<br>LEI: 2138004HC83AB2ENIZ64 | Long             | LON              | CORP              | ZA        |     6000000 | PA      | $5994751.56   | 0.44%             | 2026-12-16      | Floating      | 5.77%                 | Yes           | N/A                | On Loan: No      |
| OQ Exploration and Production SAOC                                       | OQ Exploration and Production SAOCTerm Loan                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | OM        |    11000000 | PA      | $11033514.69  | 0.81%             | 2026-09-17      | Floating      | 4.69%                 | Yes           | 3                  | On Loan: No      |
| MERCURIA ENERGY TRADING SA                                               | Mercuria Energy Trading SATerm Loan                                                                                       | CUSIP: 000000000<br>LEI: 549300G6ZUFBJVLAJQ46 | Long             | LON              | CORP              | KZ        |     4666667 | PA      | $4666666.83   | 0.34%             | 2025-12-15      | Floating      | 6.65%                 | Yes           | 3                  | On Loan: No      |
| T.C. Ziraat Bankasi A.S.                                                 | T.C. Ziraat Bankasi A.S.2025 EUR Dual Currency Term Loan                                                                  | CUSIP: 000000000<br>LEI: 213800K5KTZFSUS8MR51 | Long             | LON              | CORP              | TR        |    15000000 | PA      | $17511266.54  | 1.28%             | 2026-05-25      | Floating      | 2.86%                 | Yes           | 3                  | On Loan: No      |
| Staatsolie Maatschappij Suriname NV                                      | Staatsolie Maatschappij Suriname NV2025 Term Loan                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SR        |    24000000 | PA      | $24000000.00  | 1.75%             | 2032-05-24      | Floating      | 9.82%                 | Yes           | 3                  | On Loan: No      |
| Oman Electricity Transmission Company S.A.O.C.                           | Oman Electricity Transmission Company S.A.O.C.Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | OM        |    22000000 | PA      | $22006599.56  | 1.61%             | 2026-03-26      | Floating      | 8.60%                 | Yes           | 3                  | On Loan: No      |
| NEO ENERGY GROUP LIMITED                                                 | NEO Energy Group Limited2025 GBP Term Loan                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |      417343 | PA      | $561284.08    | 0.04%             | 2031-06-30      | Floating      | 8.24%                 | Yes           | 3                  | On Loan: No      |
| ENI Trade & Biofuels SPA                                                 | ENI TRADE + BIOFUELS SPA FIXED RECEIVABLE RISK PART Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IT        |    22000000 | PA      | $21939738.48  | 1.60%             | 2025-10-22      | Fixed         | 4.52%                 | Yes           | 3                  | On Loan: No      |
| Government of Arab Republic of Egypt EGY/0236                            | GOV OF AR REP OF EGYPT EGY0236 SYNDICA ITFC MURA Facilities EGY0236                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | LON              | CORP              | EG        |     2587800 | PA      | $2587800.36   | 0.19%             | 2026-09-24      | Floating      | 7.90%                 | Yes           | 3                  | On Loan: No      |
| VMOS SA                                                                  | VMOS SA 1st Lien Term Loan                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AR        |     3240000 | PA      | $3240000.00   | 0.24%             | 2030-07-08      | Floating      | 9.70%                 | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Federated Hermes Core Trust III

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Core Trust III

**Title:** Chief Compliance Officer