# EDGAR Filing Document

**Accession Number:** 0001388141
**File Stem:** 0001410368-25-011935
**Filing Date:** 2025-9
**Character Count:** 309918
**Document Hash:** fa2c64b8c691f3dfe53b7996b8c8fab9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-011935.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001410368-25-011935

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.
- **CENTRAL INDEX KEY:** 0001388141

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22011
- **FILM NUMBER:** 251347402

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 800-869-6397

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Nport-Ex

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face<br>Amount<br>(000)** | **Value<br>(000)** |
| **FIXED INCOME SECURITIES (89.9%)** |  |  |
| **Albania (2.8%)** |  |  |
| **Sovereign (2.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Albanian Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 1/10/28 | 1800 | $21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 1/22/30 | 75900 | 914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 2/7/32 | 43200 | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 7/10/27 | 114500 | 1369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 2/23/27 | 37000 | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 7/22/29 | 353300 | 4408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 1/26/29 - 1/23/35 | 254100 | 3196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59%, 2/19/40 | 6100 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 7/25/34 | 17100 | 218 |
|  |  | 11164 |
| **Angola (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Angolan Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13%, 11/26/49 | $575 | 458 |
| **Argentina (0.8%)** |  |  |
| **Sovereign (0.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Argentina Treasury Bonds BONTE, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.50%, 5/30/30 | 987000 | 744 |
| &nbsp;&nbsp;&nbsp;Bono Del Tesoro Nacional Capitalizable en Pesos, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 1/15/27 | 1003600 | 683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 6/30/26 | 1739853 | 1147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 2/13/26 | 33453 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 1/30/26 | 687800 | 511 |
|  |  | 3108 |
| **Armenia (2.8%)** |  |  |
| **Sovereign (2.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Armenia Treasury Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 4/29/26 | 99880 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 4/29/28 | 786700 | 2049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.60%, 10/29/33 | 2602928 | 6708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 10/29/50 - 10/29/52 | 757312 | 1939 |
|  |  | 10958 |
| **Bahamas (0.6%)** |  |  |
| **Sovereign (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Bahamas Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 5/15/33 | $719 | 655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 6/24/36 (a) | 275 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.95%, 10/15/32 | 1174 | 1251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 6/16/29 | 222 | 235 |
|  |  | 2421 |
| **Benin (0.5%)** |  |  |
| **Sovereign (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Benin Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 1/19/32 | 223 | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 1/19/52 | 1077 | 1056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.96%, 2/13/38 | $559 | 542 |
|  |  | 1836 |
| **Brazil (0.8%)** |  |  |
| **Sovereign (0.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Brazil Notas do Tesouro Nacional, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/15/30 | 4200 | 3242 |
| **Cameroon (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Cameroon International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 7/7/32 | 411 | 375 |
| **Colombia (7.5%)** |  |  |
| **Corporate Bond (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Fideicomiso PA Costera, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 1/15/34 (a) | 4979415 | 1065 |
| **Sovereign (7.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Colombian TES, Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/3/27 | 24995000 | 5567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 4/28/28 | 71997000 | 15690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 7/9/36 | 4382700 | 697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 6/30/32 | 15440600 | 2907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 5/28/42 | 1486900 | 284 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount<br> (000)** | **Value<br> (000)** |
| **Sovereign (cont'd)** |  |  |
| &nbsp;&nbsp;&nbsp;Colombian TES, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 3/26/31 | 8239000 | $1618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.25%, 2/9/33 | 8253900 | 2105 |
|  |  | 28868 |
|  |  | 29933 |
| **Dominican Republic (1.1%)** |  |  |
| **Sovereign (1.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Dominican Republic Central Bank Note, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 3/12/27 (a) | 15000 | 237 |
| &nbsp;&nbsp;&nbsp;Dominican Republic International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 1/15/27 - 2/12/27 (a) | 114000 | 1797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.25%, 9/15/35 | 40450 | 723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.00%, 8/8/25 (a) | 61080 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 9/23/29 (a) | 41000 | 742 |
|  |  | 4503 |
| **Egypt (5.5%)** |  |  |
| **Sovereign (5.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Egypt Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.98%, 5/20/30 | 505088 | 9607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.46%, 10/1/27 | 587636 | 12083 |
|  |  | 21690 |
| **Ethiopia (1.1%)** |  |  |
| **Sovereign (1.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ethiopia International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 12/11/24 | $4412 | 4070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 12/11/25 (a) | 290 | 267 |
|  |  | 4337 |
| **Ghana (0.8%)** |  |  |
| **Sovereign (0.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ghana Cocoa Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.00%, 8/30/27 - 8/28/28 | 3790 | 312 |
| &nbsp;&nbsp;&nbsp;Republic of Ghana Government Bond, 5.00% Cash, 3.35% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.35%, 2/16/27 (b) | 6901 | 592 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 3.50% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 2/15/28 (b) | 5732 | 464 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 3.65% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.65%, 2/13/29 (b) | 2411 | 186 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 3.80% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.80%, 2/12/30 (b) | 4323 | 320 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 3.95% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.95%, 2/11/31 (b) | 3922 | 280 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 4.25% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 2/8/33 (b) | 4646 | 316 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 4.55% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.55%, 2/6/35 (b) | 1490 | 98 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 4.70% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.70%, 2/5/36 (b) | 3816 | 250 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 4.85% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.85%, 2/3/37 (b) | 938 | 61 |
| &nbsp;&nbsp;&nbsp;Republic of Ghana Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 8/17/27 | 989 | 82 |
| &nbsp;&nbsp;&nbsp;5.00% Cash, 5.00% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 2/2/38 (b) | 2346 | 153 |
|  |  | 3114 |
| **Guatemala (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Guatemala Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 6/13/36 | $283 | 291 |
| **Honduras (0.5%)** |  |  |
| **Sovereign (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Honduras Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 11/27/34 | 1790 | 1871 |
| **Hungary (0.2%)** |  |  |
| **Sovereign (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Hungary Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 4/25/41 | 452940 | 774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/28/51 | 139450 | 240 |
|  |  | 1014 |
| **Indonesia (7.6%)** |  |  |
| **Sovereign (7.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Indonesia Treasury Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 7/15/35 | 47031000 | 2901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 9/15/30 - 2/15/33 | 178804000 | 11193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 6/15/38 - 6/15/43 | 86468000 | 5370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 6/15/35 | 83000000 | 5363 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount<br> (000)** | **Value<br> (000)** |
| **Sovereign (cont'd)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 4/15/39 | 20000000 | $1377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 5/15/31 | 58978000 | 3997 |
|  |  | 30201 |
| **Kazakhstan (1.5%)** |  |  |
| **Sovereign (1.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Development Bank of Kazakhstan JSC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.00%, 4/15/27 (a) | 1922000 | 3386 |
| &nbsp;&nbsp;&nbsp;Kazakhstan Government Bond - MEUKAM, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 4/18/28 | 148388 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 9/20/28 | 209238 | 288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.55%, 7/28/29 | 502000 | 773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.00%, 5/12/31 - 5/19/32 | 774179 | 1303 |
|  |  | 5959 |
| **Lebanon (0.3%)** |  |  |
| **Sovereign (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Lebanon Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 4/14/20 (c)(d) | $469 | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/27/23 (c)(d) | 532 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 10/4/22 (c)(d) | 1187 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 6/19/20 (c)(d) | 68 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 2/26/25 (c)(d) | 58 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 5/27/22 - 6/12/25 (c)(d) | 372 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 3/9/20 (c)(d) | 637 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 5/26/23 (c)(d) | 2260 | 422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 11/27/26 (c)(d) | 34 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 4/22/24 - 11/3/28 (c)(d) | 117 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 11/29/27 (c)(d) | 54 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.85%, 3/23/27 - 5/25/29 (c)(d) | 252 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 3/20/28 - 3/23/32 (c)(d) | 314 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 3/23/37 (c)(d) | 177 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 4/12/21 (c)(d) | 492 | 92 |
|  |  | 1312 |
| **Malaysia (0.9%)** |  |  |
| **Sovereign (0.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;Malaysia Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.76%, 5/22/40 | 11420 | 2705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 10/15/42 | 3900 | 1023 |
|  |  | 3728 |
| **Mexico (10.2%)** |  |  |
| **Sovereign (10.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Mexican Bonos, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/23/34 | 135015 | 6489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/7/47 - 7/31/53 | 178199 | 7758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 5/31/29 - 11/18/38 | 381323 | 18705 |
| &nbsp;&nbsp;&nbsp;Mexico Udibonos, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/27/31 | 121895 | 5706 |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 10/16/25 | $1720 | 1723 |
|  |  | 40381 |
| **Mongolia (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Mongolia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 2/25/30 (a) | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 2/25/30 | 200 | 200 |
|  |  | 400 |
| **Montenegro (0.8%)** |  |  |
| **Sovereign (0.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Montenegro Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/16/27 | 261 | 292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 4/1/32 | 1963 | 2221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 3/12/31 (a) | $200 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 3/12/31 | 270 | 280 |
|  |  | 3001 |
| **Paraguay (2.3%)** |  |  |
| **Corporate Bond (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Itau BBA International PLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 2/19/30 | 18493970 | 2644 |
| **Sovereign (1.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Paraguay Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.90%, 2/9/31 | 9630000 | 1238 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount<br> (000)** | **Value<br> (000)** |
| **Sovereign (cont'd)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.90%, 2/9/31 (a) | 37776000 | $4854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 3/4/35 (a) | 1804000 | 233 |
|  |  | 6325 |
|  |  | 8969 |
| **Peru (5.1%)** |  |  |
| **Sovereign (5.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Peru Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 8/12/34 | 23391 | 6159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.85%, 8/12/35 | 2172 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 8/12/37 | 23639 | 6671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 8/12/33 | 1091 | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.60%, 8/12/39 | 21662 | 6394 |
|  |  | 20178 |
| **Philippines (3.0%)** |  |  |
| **Sovereign (3.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;Philippine Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 4/22/28 | 230370 | 3739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 7/27/30 | 380820 | 6658 |
| &nbsp;&nbsp;&nbsp;Philippines Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/28/35 | 80820 | 1409 |
|  |  | 11806 |
| **Poland (4.2%)** |  |  |
| **Sovereign (4.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Poland Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 8/25/36 | 56532 | 13532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/25/34 | 12266 | 3189 |
|  |  | 16721 |
| **Romania (1.5%)** |  |  |
| **Sovereign (1.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Romania Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 4/28/36 | 8910 | 1586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/11/34 | 23000 | 4354 |
|  |  | 5940 |
| **Serbia (1.8%)** |  |  |
| **Sovereign (1.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Serbia Treasury Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 8/20/32 | 45030 | 427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/26/31 | 619130 | 6725 |
|  |  | 7152 |
| **South Africa (7.5%)** |  |  |
| **Sovereign (7.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of South Africa Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 1/31/30 | 17350 | 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 1/31/37 | 38329 | 1873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 1/31/44 | 106539 | 4911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 2/28/35 | 232217 | 12175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 1/31/40 | 200655 | 9781 |
|  |  | 29686 |
| **Sri Lanka (1.9%)** |  |  |
| **Sovereign (1.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;Sri Lanka Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 6/1/33 - 11/1/33 | 115000 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 7/1/30 (e) | 14000 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.25%, 9/15/34 | 535000 | 1687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.35%, 10/15/29 | 14000 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 10/15/28 - 10/15/30 | 1257000 | 4382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.25%, 3/15/31 | 6000 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.50%, 12/15/32 | 311000 | 1080 |
|  |  | 7609 |
| **Suriname (1.0%)** |  |  |
| **Sovereign (1.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;Suriname Government International Bond, 4.95% Cash, 3.00% PIK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.95%, 7/15/33 (a)(b) | $146 | 146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.95%, 7/15/33 (b) | 1862 | 1857 |
| &nbsp;&nbsp;&nbsp;Suriname Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 12/31/50 (a)(f) | 675 | 786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 12/31/50 (f) | 956 | 1114 |
|  |  | 3903 |
| **Thailand (2.3%)** |  |  |
| **Sovereign (2.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Thailand Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 6/17/35 | 30700 | 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 6/17/49 | 50000 | 1465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 6/17/42 | 158500 | 4913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 6/17/38 | 50000 | 1809 |
|  |  | 9135 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount<br> (000)** | **Value<br> (000)** |
| **Turkey (2.6%)** |  |  |
| **Sovereign (2.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Turkiye Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.30%, 7/19/28 | 50000 | $871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.80%, 7/13/33 | 3000 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.20%, 10/5/33 | 211726 | 4783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.70%, 9/27/34 | 157736 | 3670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.00%, 9/12/29 | 44155 | 999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.08%, 11/8/28 | 3000 | 69 |
|  |  | 10441 |
| **Uganda (0.5%)** |  |  |
| **Sovereign (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Uganda Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.00%, 6/18/43 | 2129400 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.80%, 6/23/39 | 5390100 | 1410 |
|  |  | 1922 |
| **Uruguay (0.6%)** |  |  |
| **Sovereign (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Uruguay Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 5/16/45 | 5139 | 131 |
| &nbsp;&nbsp;&nbsp;Uruguay Monetary Regulation Bill, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.27%, 10/1/25 | 26730 | 656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 10/31/25 | 9572 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.39%, 11/7/25 | 8824 | 216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.45%, 12/30/25 | 4038 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.46%, 12/5/25 | 37000 | 897 |
|  |  | 2231 |
| **Uzbekistan (7.9%)** |  |  |
| **Corporate Bonds (4.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.20%, 4/9/26 | $1700 | 1718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.35%, 3/1/27 | 564 | 562 |
| &nbsp;&nbsp;&nbsp;Ipoteka-Bank ATIB, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.50%, 4/25/27 | 15590000 | 1262 |
| &nbsp;&nbsp;&nbsp;TBC Bank Group PLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.00%, 6/5/28 (a) | 15360000 | 1213 |
| &nbsp;&nbsp;&nbsp;Uzbek Industrial & Construction Bank ATB, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.00%, 7/24/27 | 141910000 | 11596 |
|  |  | 16351 |
| **Loan Participation Notes (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Europe Asia Investment Finance BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.70%, 7/21/26 | 25786585 | 2035 |
| **Sovereign (3.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Asian Development Bank, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.50%, 6/26/28 | 7716500 | 611 |
| &nbsp;&nbsp;&nbsp;National Bank of Uzbekistan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.88%, 7/5/27 | 14170000 | 1149 |
| &nbsp;&nbsp;&nbsp;Republic of Uzbekistan International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.50%, 2/25/28 | 42000000 | 3337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.25%, 10/12/26 | 55720000 | 4490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.63%, 5/29/27 | 40000000 | 3228 |
|  |  | 12815 |
|  |  | 31201 |
| **Venezuela (0.9%)** |  |  |
| **Sovereign (0.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos de Venezuela SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 4/12/27 (c)(d) | $1817 | 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 4/12/37 (c)(d) | 507 | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/16/24 - 11/15/26 (c)(d) | 10902 | 1540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 11/17/21 (c)(d) | 375 | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 5/17/35 (c)(d) | 690 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 2/17/22 (c)(d) | 291 | 45 |
| &nbsp;&nbsp;&nbsp;Venezuela Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/9/20 (c)(d) | 322 | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 3/31/38 (c)(d) | 430 | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.65%, 4/21/25 (c)(d) | 466 | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 10/13/19 (c)(d) | 710 | 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 10/13/24 (c)(d) | 1410 | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 5/7/23 (c)(d) | 307 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 9/15/27 - 5/7/28 (c)(d) | 3831 | 812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 1/13/34 (c)(d) | 108 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.75%, 10/21/26 (c)(d) | 366 | 81 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount<br> (000)** | **Value<br> (000)** |
| **Sovereign (cont'd)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.95%, 8/5/31 (c)(d) | $405 | $84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 8/23/22 (c)(d) | 237 | 47 |
|  |  | 3781 |
| **Zambia (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Zambia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/31/53 | 701 | 514 |
| **TOTAL FIXED INCOME SECURITIES** (Cost $354,850) |  | 356486 |

---

---

| | | |
|:---|:---|:---|
|  | **No. of<br>Warrants** | |
| **WARRANTS (1.2%)** | | |
| **Ukraine (1.2%)** | | |
| &nbsp;&nbsp;&nbsp;Ukraine Government International Bond, expires 8/1/41 (f)(g) (Cost $4,711) | 6338000 | 4719 |

---

---

| | | |
|:---|:---|:---|
|  | **Face<br>Amount<br>(000)** | |
| **SHORT-TERM INVESTMENTS (8.8%)** |  |  |
| **U.S. Treasury Securities (2.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bill, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.32%, 8/5/25 (h) | 3000 | 2998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/20/25 (h) | 7000 | 6910 |
| &nbsp;&nbsp;&nbsp;**TOTAL U.S. TREASURY SECURITIES** (Cost $9,909) |  | 9908 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | |
| **Investment Company (2.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds - Treasury Securities Portfolio - Institutional Class, 4.13% (Cost $9,047) (i) | 9047307 | 9047 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Face<br>Amount<br>(000)** | **Face<br>Amount<br>(000)** |  |
| **Sovereign (4.0%)** |  |  |  |
| **Albania (0.0%)‡** |  |  |  |
| &nbsp;&nbsp;&nbsp;Albanian Treasury Bill, 2.70%, 3/12/26 | ALL | 9300 | 107 |
| **Argentina (0.1%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Letra Del Tesoro Nacional Capitalizable En Pesos, 2.35%, 5/29/26 (Cost $262) | ARS | 334533 | 229 |
| **Egypt (1.9%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Egypt Treasury Bill, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.75%, 9/9/25 | EGP | 4100 | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.75%, 10/28/25 |  | 13725 | 265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.00%, 8/5/25 |  | 54250 | 1119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.25%, 8/19/25 |  | 35225 | 716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.99%, 12/23/25 |  | 196225 | 3640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.00%, 8/5/25 |  | 70450 | 1453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.00%, 9/9/25 |  | 2900 | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.00%, 9/16/25 |  | 17625 | 351 |
|  |  |  | 7684 |
| **Nigeria (1.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Nigeria OMO Bill, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.64%, 12/16/25 | NGN | 405384 | 242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.67%, 11/18/25 |  | 428687 | 260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.37%, 10/14/25 |  | 3141209 | 1947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.63%, 9/30/25 |  | 94135 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.24%, 9/30/25 |  | 963280 | 603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.80%, 10/7/25 |  | 1038996 | 648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.86%, 9/30/25 |  | 20789 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.58%, 10/7/25 |  | 1565057 | 975 |
|  |  |  | 4747 |
| **Uruguay (0.8%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;Uruguay Monetary Regulation Bill, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.36%, 9/10/25 | UYU | 90000 | 2225 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Face<br> Amount<br> (000)** | **Face<br> Amount<br> (000)** | **Value<br> (000)** |
| **Uruguay (cont'd)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.37%, 12/19/25 | UYU | 29910 | $723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.53%, 3/6/26 |  | 8824 | 210 |
|  |  |  | 3158 |
| **Total Sovereign** (Cost $15,357) |  |  | 15925 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $34,313) |  |  | 34880 |
| **TOTAL INVESTMENTS EXCLUDING PURCHASED OPTIONS (99.9%)(Cost $393,874)** |  |  | 396085 |
| **TOTAL PURCHASED OPTIONS OUTSTANDING (0.1%) (Cost $371)** |  |  | 264 |
| **TOTAL INVESTMENTS (100%)** (Cost $394,245)(j)(k) |  |  | 396349 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS** |  |  | (46953) |
| **NET ASSETS** |  |  | $349396 |

---

Country assignments and aggregations are based generally on third party vendor classifications and information, and may be different from the assignments and aggregations under the policies set forth in the Fund's prospectus and/or statement of additional information relating to geographic classifications.

---

| | |
|:---|:---|
| ‡ | Amount is less than 0.05%. |
| (a) | 144A security — Certain conditions for public sale may exist. Unless otherwise noted, these securities are deemed to be liquid. |
| (b) | Income may be paid in additional securities and/or cash at the discretion of the issuer. |
| (c) | Issuer in bankruptcy. |
| (d) | Non-income producing security; bond in default. |
| (e) | When-issued security. |
| (f) | Floating or variable rate securities: The rates disclosed are as of July 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description in the Portfolio of Investments. Certain variable rate securities may not be based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description in the Portfolio of Investments. |
| (g) | Non-income producing security. |
| (h) | Rate shown is the yield to maturity at July 31, 2025. |
| (i) | The Fund invests in the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Treasury Securities Portfolio - (the "Liquidity Fund"), an open-end management investment company managed by the Adviser. Advisory fees paid by the Fund are reduced by an amount equal to its pro-rata share of the advisory and administration fees paid by the Fund due to its investment in the Liquidity Fund. For the nine months ended July 31, 2025, advisory fees paid were reduced by approximately $22,000 relating to the Fund's investment in the Liquidity Fund. |
| (j) | Securities are available for collateral in connection with securities purchased on a forward commitment basis, open foreign currency forward exchange contracts, futures contracts and swap agreements. |
| (k) | At July 31, 2025, the aggregate cost for federal income tax purposes approximates the aggregate cost for book purposes. The aggregate gross unrealized appreciation is approximately $16,715,000 and the aggregate gross unrealized depreciation is approximately $14,611,000, resulting in net unrealized appreciation of approximately $2,104,000. |
| PIK | Payment-in-Kind. |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Foreign Currency Forward Exchange Contracts:**

The Fund had the following foreign currency forward exchange contracts open at July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts<br> to Deliver<br> (000)** | **In<br> Exchange<br> For<br> (000)** | **Delivery<br> Date** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Australia & New Zealand Banking Group Ltd. | 339120 | $10463 | 9/17/25 | $50 |
| Australia & New Zealand Banking Group Ltd. | $5115 | 165787 | 9/17/25 | (25) |
| Australia & New Zealand Banking Group Ltd. | $24931 | 808012 | 9/17/25 | (120) |
| Bank of America NA | 1165 | 29000 | 9/17/25 | 15 |
| Bank of America NA | 683 | 17000 | 9/17/25 | 9 |
| Bank of America NA | 1727 | 43000 | 9/17/25 | 22 |
| Bank of America NA | 857 | 345000 | 9/17/25 | 1 |
| Bank of America NA | 8276 | $430 | 9/17/25 | (6) |
| Bank of America NA | 16200 | 3789 | 9/17/25 | 17 |
| Bank of America NA | $2588 | 18500 | 9/17/25 | (13) |
| Bank of America NA | $1229 | 62578 | 10/15/25 | 12 |
| Bank of America NA | $1057 | 20000 | 9/17/25 | (2) |
| Bank of America NA | $814 | 2906 | 9/17/25 | (6) |
| Bank of America NA | $782 | 32000 | 10/9/25 | 7 |
| Bank of America NA | 7000 | $390 | 9/17/25 | 7 |
| Barclays Bank PLC | 8723000 | $9183 | 9/17/25 | 214 |
| Barclays Bank PLC | 121380 | 4878 | 9/17/25 | (59) |
| Barclays Bank PLC | 844 | 21000 | 9/17/25 | 10 |
| Barclays Bank PLC | 362 | 9000 | 9/17/25 | 4 |
| Barclays Bank PLC | 563 | 14000 | 9/17/25 | 7 |
| Barclays Bank PLC | 2802 | 69709 | 9/17/25 | 34 |
| Barclays Bank PLC | 4686 | 116598 | 9/17/25 | 57 |
| Barclays Bank PLC | 6914 | 172037 | 9/17/25 | 83 |
| Barclays Bank PLC | 21200 | 91298 | 9/17/25 | 81 |
| Barclays Bank PLC | 1140 | 4909 | 9/17/25 | 4 |
| Barclays Bank PLC | 528 | 2699 | 9/17/25 | 1 |
| Barclays Bank PLC | 4086 | 20886 | 9/17/25 | 8 |
| Barclays Bank PLC | 26566145 | $1624 | 9/17/25 | 12 |
| Barclays Bank PLC | 319689073 | $19547 | 9/17/25 | 141 |
| Barclays Bank PLC | 10371000 | $639 | 9/17/25 | 9 |
| Barclays Bank PLC | 70578 | $3700 | 9/17/25 | (23) |
| Barclays Bank PLC | 11895 | $2821 | 9/17/25 | 27 |
| Barclays Bank PLC | 7400 | $1745 | 9/17/25 | 7 |
| Barclays Bank PLC | 820 | 190 | 9/17/25 | (1) |
| Barclays Bank PLC | 48969 | 11371 | 9/17/25 | (43) |
| Barclays Bank PLC | 22195 | 5154 | 9/17/25 | (20) |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Foreign Currency Forward Exchange Contracts: (cont'd)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts<br> to Deliver<br> (000)** | **In<br> Exchange<br> For<br> (000)** | **Delivery<br> Date** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Barclays Bank PLC | 2803 | 510 | 5/12/26 | $(27) |
| Barclays Bank PLC | 7921 | 1550 | 9/17/25 | (3) |
| Barclays Bank PLC | 22963 | $433 | 3/23/26 | (32) |
| Barclays Bank PLC | 21377 | $468 | 9/22/25 | (36) |
| Barclays Bank PLC | 88547 | $1636 | 3/26/26 | (152) |
| Barclays Bank PLC | 20426 | $381 | 3/26/26 | (31) |
| Barclays Bank PLC | 25630 | $591 | 9/17/25 | (17) |
| Barclays Bank PLC | 101400 | $2333 | 9/16/25 | (72) |
| Barclays Bank PLC | 16453 | $379 | 9/16/25 | (11) |
| Barclays Bank PLC | $10312 | 73514 | 9/17/25 | (82) |
| Barclays Bank PLC | $8261 | 135111289 | 9/17/25 | (59) |
| Barclays Bank PLC | $7503 | 122712199 | 9/17/25 | (54) |
| Barclays Bank PLC | $969 | 15770000 | 9/17/25 | (12) |
| Barclays Bank PLC | $8032 | 687000 | 9/17/25 | (205) |
| Barclays Bank PLC | $3143 | 270000 | 9/17/25 | (67) |
| Barclays Bank PLC | $684 | 943350 | 9/17/25 | (2) |
| Barclays Bank PLC | $2061 | 39700 | 9/17/25 | 34 |
| Barclays Bank PLC | $1972 | 38000 | 9/17/25 | 33 |
| Barclays Bank PLC | $14619 | 61653 | 9/17/25 | (139) |
| Barclays Bank PLC | $7469 | 31500 | 9/17/25 | (71) |
| Barclays Bank PLC | $8783 | 37039 | 9/17/25 | (83) |
| Barclays Bank PLC | $763 | 3200 | 9/17/25 | (11) |
| Barclays Bank PLC | $4248 | 18000 | 9/17/25 | (21) |
| Barclays Bank PLC | $474 | 21377 | 9/22/25 | 30 |
| Barclays Bank PLC | $2045 | 108973 | 3/26/26 | 155 |
| Barclays Bank PLC | $2045 | 93844 | 9/26/25 | 163 |
| Barclays Bank PLC | $938 | 40716 | 9/17/25 | 26 |
| Barclays Bank PLC | $445 | 19325 | 9/17/25 | 13 |
| BNP Paribas SA | 11460911 | $705 | 9/17/25 | 10 |
| BNP Paribas SA | 396296 | $7069 | 5/12/26 | 316 |
| BNP Paribas SA | $4039 | 65595000 | 9/17/25 | (57) |
| BNP Paribas SA | $15439 | 275850 | 9/17/25 | (342) |
| BNP Paribas SA | 164640 | $9215 | 9/17/25 | 204 |
| BNP Paribas SA | 146420 | $8195 | 9/17/25 | 181 |
| BNP Paribas SA | 570 | $32 | 9/17/25 | 1 |
| Citibank NA | 25492951 | $6117 | 9/17/25 | 53 |
| Citibank NA | 7885597 | $1930 | 9/17/25 | 54 |
| Citibank NA | 3541238 | $862 | 9/17/25 | 19 |
| Citibank NA | 1997 | 49350 | 9/17/25 | 8 |
| Citibank NA | 979 | 5000 | 9/17/25 | 1 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Foreign Currency Forward Exchange Contracts: (cont'd)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts<br> to Deliver<br> (000)** | **In<br> Exchange<br> For<br> (000)** | **Delivery<br> Date** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Citibank NA | 7353 | $380 | 9/17/25 | $(8) |
| Citibank NA | 21930 | $675 | 9/17/25 | 2 |
| Citibank NA | 251700 | $7761 | 9/17/25 | 32 |
| Citibank NA | 46113 | $1015 | 9/26/25 | (69) |
| Citibank NA | $1536 | 1430000 | 9/17/25 | (66) |
| Citibank NA | $1549 | 1446000 | 9/17/25 | (62) |
| Citibank NA | $1495 | 81572 | 8/12/25 | 176 |
| Citibank NA | $2 | 121 | 12/18/25 | —@ |
| Citibank NA | $242 | 12367 | 9/9/25 | 7 |
| Citibank NA | $1834 | 30132000 | 9/17/25 | (5) |
| Citibank NA | $1077 | 17710020 | 9/17/25 | (2) |
| Citibank NA | $1238 | 20368000 | 9/17/25 | (1) |
| Citibank NA | $10537 | 14392500 | 9/17/25 | (134) |
| Citibank NA | $363 | 15000 | 9/17/25 | 8 |
| Citibank NA | $1413 | 57000 | 9/17/25 | (3) |
| Citibank NA | $707 | 28830 | 9/9/25 | 6 |
| Goldman Sachs International | 66346 | $71 | 9/17/25 | 3 |
| Goldman Sachs International | 820580 | $859 | 9/17/25 | 15 |
| Goldman Sachs International | 16550000 | $3878 | 9/17/25 | (58) |
| Goldman Sachs International | 55900 | 2262 | 9/17/25 | (10) |
| Goldman Sachs International | 391 | 9760 | 9/17/25 | 7 |
| Goldman Sachs International | 7420 | 3029468 | 9/17/25 | 131 |
| Goldman Sachs International | 1025 | 4400 | 9/17/25 | (—@) |
| Goldman Sachs International | 1264 | 5400 | 9/17/25 | (7) |
| Goldman Sachs International | 545314 | 1336 | 9/17/25 | (24) |
| Goldman Sachs International | 395810 | 985 | 9/17/25 | —@ |
| Goldman Sachs International | 16000000 | $985 | 9/17/25 | 14 |
| Goldman Sachs International | 272714 | $14159 | 9/17/25 | (229) |
| Goldman Sachs International | 1078204 | $552 | 10/7/25 | (133) |
| Goldman Sachs International | $865 | 5040 | 9/3/25 | 28 |
| Goldman Sachs International | $7303 | 6850494 | 9/17/25 | (259) |
| Goldman Sachs International | $3936 | 3692441 | 9/17/25 | (140) |
| Goldman Sachs International | $2183 | 2056450 | 9/17/25 | (68) |
| Goldman Sachs International | $4 | 225 | 10/27/25 | —@ |
| Goldman Sachs International | $528 | 28802 | 8/11/25 | 63 |
| Goldman Sachs International | $6 | 298 | 8/12/25 | —@ |
| Goldman Sachs International | $10113 | 194775 | 9/17/25 | 164 |
| Goldman Sachs International | $1264 | 24341 | 9/17/25 | 20 |
| Goldman Sachs International | $6017 | 115900 | 9/17/25 | 97 |
| Goldman Sachs International | $263 | 1110 | 9/17/25 | (2) |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Foreign Currency Forward Exchange Contracts: (cont'd)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts<br> to Deliver<br> (000)** | **In<br> Exchange<br> For<br> (000)** | **Delivery<br> Date** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Goldman Sachs International | $2890 | 94000 | 9/17/25 | $(3) |
| Goldman Sachs International | 15635 | $869 | 9/17/25 | 13 |
| Goldman Sachs International | 15721 | $876 | 9/17/25 | 15 |
| HSBC Bank PLC | 2811 | 12000 | 9/17/25 | (18) |
| HSBC Bank PLC | 878 | 4500 | 9/17/25 | 4 |
| HSBC Bank PLC | 130054000 | $7994 | 9/17/25 | 100 |
| HSBC Bank PLC | 17501 | $916 | 9/17/25 | (8) |
| HSBC Bank PLC | $8138 | 6952 | 8/8/25 | (203) |
| HSBC Bank PLC | $149 | 127 | 8/8/25 | (4) |
| HSBC Bank PLC | $535 | 8856125 | 9/17/25 | 3 |
| JPMorgan Chase Bank NA | 39626 | $6840 | 9/3/25 | (181) |
| JPMorgan Chase Bank NA | 19260 | $3493 | 9/3/25 | 80 |
| JPMorgan Chase Bank NA | 347300 | $81 | 9/17/25 | (1) |
| JPMorgan Chase Bank NA | 524 | 2803 | 5/12/26 | 11 |
| JPMorgan Chase Bank NA | 1565057 | $798 | 10/15/25 | (191) |
| JPMorgan Chase Bank NA | 1038996 | $535 | 10/10/25 | (123) |
| JPMorgan Chase Bank NA | 2169 | $598 | 9/17/25 | (5) |
| JPMorgan Chase Bank NA | 4220 | $1164 | 9/17/25 | (9) |
| JPMorgan Chase Bank NA | 7387 | $2038 | 9/17/25 | (16) |
| JPMorgan Chase Bank NA | 48177 | $13289 | 9/17/25 | (104) |
| JPMorgan Chase Bank NA | $1156 | 6688 | 9/3/25 | 29 |
| JPMorgan Chase Bank NA | $27286 | 158073 | 9/3/25 | 722 |
| JPMorgan Chase Bank NA | $5160 | 29896 | 9/3/25 | 136 |
| JPMorgan Chase Bank NA | $4401 | 31450 | 9/17/25 | (25) |
| JPMorgan Chase Bank NA | $4180 | 16897300 | 9/17/25 | (161) |
| JPMorgan Chase Bank NA | $1367 | 22505138 | 9/17/25 | (1) |
| JPMorgan Chase Bank NA | $2244 | 1237772 | 9/17/25 | 15 |
| JPMorgan Chase Bank NA | $2525 | 9153 | 9/17/25 | 20 |
| Standard Chartered Bank | 7687976 | $1813 | 9/17/25 | (15) |
| Standard Chartered Bank | 15751829 | $3715 | 9/17/25 | (32) |
| Standard Chartered Bank | 16806502 | $3964 | 9/17/25 | (34) |
| Standard Chartered Bank | 2487 | $199 | 8/22/25 | (36) |
| Standard Chartered Bank | 10000 | $515 | 9/17/25 | (12) |
| Standard Chartered Bank | 77700 | $4112 | 9/17/25 | 13 |
| Standard Chartered Bank | $3439 | 24504 | 9/17/25 | (29) |
| Standard Chartered Bank | $3711 | 15733486 | 9/17/25 | 32 |
| Standard Chartered Bank | $766 | 668 | 8/8/25 | (4) |
| Standard Chartered Bank | $7989 | 232830 | 9/17/25 | (160) |
| State Street Bank and Trust Co. | 19200 | $3410 | 9/17/25 | 19 |
| State Street Bank and Trust Co. | 12765788 | $3082 | 9/17/25 | 45 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Foreign Currency Forward Exchange Contracts: (cont'd)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts<br> to Deliver<br> (000)** | **In<br> Exchange<br> For<br> (000)** | **Delivery<br> Date** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| State Street Bank and Trust Co. | 158 | $186 | 8/8/25 | $5 |
| State Street Bank and Trust Co. | 157 | $185 | 8/8/25 | 5 |
| State Street Bank and Trust Co. | 2185 | $2566 | 8/8/25 | 72 |
| State Street Bank and Trust Co. | 9575 | $11247 | 8/8/25 | 317 |
| State Street Bank and Trust Co. | 1320 | $1551 | 8/8/25 | 44 |
| State Street Bank and Trust Co. | 11345 | $13327 | 8/8/25 | 376 |
| State Street Bank and Trust Co. | 3719 | $4368 | 8/8/25 | 123 |
| State Street Bank and Trust Co. | 78 | $91 | 8/8/25 | 3 |
| State Street Bank and Trust Co. | 1086 | $1275 | 8/8/25 | 36 |
| State Street Bank and Trust Co. | 6966 | $8182 | 8/8/25 | 231 |
| State Street Bank and Trust Co. | 2793 | $3281 | 8/8/25 | 93 |
| State Street Bank and Trust Co. | 4563 | $5360 | 8/8/25 | 151 |
| State Street Bank and Trust Co. | 525200 | $6097 | 9/17/25 | 113 |
| State Street Bank and Trust Co. | 251700 | $4469 | 5/12/26 | 180 |
| State Street Bank and Trust Co. | 85000 | $1523 | 5/12/26 | 75 |
| State Street Bank and Trust Co. | 119100 | $4128 | 9/17/25 | 123 |
| State Street Bank and Trust Co. | $2804 | 15490 | 9/3/25 | (60) |
| State Street Bank and Trust Co. | $1349 | 9600 | 9/17/25 | (13) |
| State Street Bank and Trust Co. | $19214 | 16357 | 8/8/25 | (542) |
| State Street Bank and Trust Co. | $586 | 498 | 8/8/25 | (17) |
| State Street Bank and Trust Co. | $33689 | 28680 | 8/8/25 | (950) |
| State Street Bank and Trust Co. | $5377 | 462000 | 9/17/25 | (113) |
| State Street Bank and Trust Co. | $1042 | 1400000 | 9/17/25 | (30) |
| UBS AG | 34719 | $4869 | 9/17/25 | 38 |
| UBS AG | 34400 | $4816 | 9/17/25 | 29 |
| UBS AG | 35573 | $1837 | 9/17/25 | (40) |
| UBS AG | 8896 | 1740 | 9/17/25 | (3) |
| UBS AG | 47730 | $1051 | 9/26/25 | (71) |
| UBS AG | $7326 | 52240 | 9/17/25 | (57) |
| UBS AG | $15115 | 107775 | 9/17/25 | (118) |
| UBS AG | $100 | 86 | 8/8/25 | (2) |
| UBS AG | $1533 | 1320 | 8/8/25 | (25) |
| UBS AG | $3927 | 64459000 | 9/17/25 | (14) |
| UBS AG | $3494 | 57459823 | 9/17/25 | (6) |
| UBS AG | $1351 | 22345350 | 9/17/25 | 5 |
| UBS AG | $1001 | 86100 | 9/17/25 | (20) |
| UBS AG | $3373 | 290094 | 9/17/25 | (68) |
| UBS AG | $1110 | 95424 | 9/17/25 | (22) |
| UBS AG | $27727 | 2384390 | 9/17/25 | (561) |
| UBS AG | $3961 | 343460 | 9/17/25 | (48) |
| UBS AG | $448 | 22963 | 3/23/26 | 16 |
| UBS AG | $4054 | 119100 | 9/17/25 | (50) |
|  |  |  |  | (1184) |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Call Options Written:**

The Fund had the following call options written open at July 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Strike<br> Price** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Premiums<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (000)** |
| Barclays Bank PLC | USD/BRL | BRL7.00 | Jul-27 | 6303000 | $6303 | $(390) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |

---

**Put Options Purchased:**

The Fund had the following put options purchased open at July 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Strike<br> Price** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Premiums<br> Paid<br> (000)** | **Unrealized<br> Depreciation<br> (000)** |
| Citibank NA | USD/CNH | CNH7.00 | Jan–26 | 6000000 | $6000 | $28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) |
| Standard Chartered Bank | USD/CNH | CNH7.00 | Jan–26 | 2900000 | 2900 | 15 | 26 | (11) |
| Barclays Bank PLC | USD/CNH | CNH7.00 | Jan–26 | 7100000 | 7100 | 36 | 69 | (33) |
| Citibank NA | USD/CNH | CNH7.00 | Jan–26 | 8060000 | 8060 | 56 | 56 |  |
| JPMorgan Chase Bank NA | USD/INR | INR85.50 | Jan–29 | 9800000 | 9800 | 60 | 80 | (20) |
| JPMorgan Chase Bank NA | USD/INR | INR85.50 | Jan–29 | 11200000 | 11200 | 69 | 95 | (26) |
|  |  |  |  |  |  | $264 | $371 | $(107) |

---

**Put Options Written:**

The Fund had the following put options written open at July 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Description** | **Strike<br> Price** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Premiums<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (000)** |
| JPMorgan Chase Bank NA | USD/KRW | KRW1,300.00 | Jan–26 | 3900000 | $3900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| Standard Chartered Bank | USD/KRW | KRW1,300.00 | Jan–26 | 1370000 | 1370 | (8) | (15) | 7 |
| Barclays Bank PLC | USD/KRW | KRW1,300.00 | Jan–26 | 2800000 | 2800 | (16) | (31) | 15 |
|  |  |  |  |  |  | $(46) | $(80) | $34 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Futures Contracts:**

The Fund had the following futures contracts open at July 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| **Short:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Euro-Buxl 30 yr. Bond Index (Germany) | 3 | Sep-25 | (300) | $(402) | $11 |
| &nbsp;&nbsp;&nbsp;German Euro-Bobl Index (Germany) | 21 | Sep-25 | (2100) | (2810) | 18 |
| &nbsp;&nbsp;&nbsp;German Euro-Bund Index (Germany) | 5 | Sep-25 | (500) | (740) | 7 |
| &nbsp;&nbsp;&nbsp;German Euro-Schatz Index (Germany) | 5 | Sep-25 | (500) | (611) | 2 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond (United States) | 3 | Sep-25 | $(300) | (343) | (11) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5 yr. Note (United States) | 40 | Sep-25 | (4000) | (4327) | (29) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10 yr. Note (United States) | 34 | Sep-25 | (3400) | (3776) | (49) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10 yr. Ultra Note (United States) | 4 | Sep-25 | (400) | (452) | (9) |
|  |  |  |  |  | $(60) |

---

**Centrally Cleared Interest Rate Swap Agreements:**

The Fund had the following centrally cleared interest rate swap agreements open at July 31, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap<br> Counterparty** | **Floating<br> Rate<br> Index** | **Pay/<br> Receive<br> Floating<br> Rate** | **Fixed<br> Rate** | **Payment<br> Frequency<br> Paid/<br> Received** | **Maturity<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Upfront<br> Payment<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Morgan Stanley & Co. LLC | 3 Month JIBAR | Pay | 8.47% | Quarterly/Quarterly | 9/17/35 | ZAR | 80300 | $43 | $– $| 43 |
| Morgan Stanley & Co. LLC | 3 Month KLIBOR | Pay | 3.18 | Quarterly/Quarterly | 9/17/30 | MYR | 10100 | 6 | – | 6 |
| Morgan Stanley & Co. LLC | 3 Month KLIBOR | Pay | 3.18 | Quarterly/Quarterly | 9/17/30 |  | 28000 | 18 | – | 18 |
| Morgan Stanley & Co. LLC | 3 Month KLIBOR | Pay | 3.20 | Quarterly/Quarterly | 9/17/30 |  | 14900 | 13 | – | 13 |
| Morgan Stanley & Co. LLC | 3 Month KLIBOR | Pay | 3.27 | Quarterly/Quarterly | 9/17/30 |  | 4300 | 7 | – | 7 |
| BNP Paribas Suisse SA | 3 Month KLIBOR | Pay | 3.48 | Quarterly/Quarterly | 6/18/30 |  | 105420 | 398 | – | 398 |
| JPMorgan Chase Bank NA | 3 Month KLIBOR | Pay | 3.68 | Quarterly/Quarterly | 6/19/29 |  | 45400 | 233 | – | 233 |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.81 | Quarterly/Quarterly | 3/19/35 | KRW | 2042000 | (23) | – | (23) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.79 | Quarterly/Quarterly | 3/19/35 |  | 769000 | (8) | – | (8) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.79 | Quarterly/Quarterly | 3/19/35 |  | 1021000 | (11) | – | (11) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.70 | Quarterly/Quarterly | 3/19/35 |  | 805000 | (4) | – | (4) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.69 | Quarterly/Quarterly | 3/19/35 |  | 2018000 | (8) | – | (8) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.69 | Quarterly/Quarterly | 3/19/35 |  | 985000 | (3) | – | (3) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.64 | Quarterly/Quarterly | 9/17/35 |  | 4380000 | (—@) | – | (—@) |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Centrally Cleared Interest Rate Swap Agreements: (cont'd)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap<br> Counterparty** | **Floating<br> Rate<br> Index** | **Pay/<br> Receive<br> Floating<br> Rate** | **Fixed<br> Rate** | **Payment<br> Frequency<br> Paid/<br> Received** | **Maturity<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Upfront<br> Payment<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.63% | Quarterly/Quarterly | 3/19/35 | KRW | 546000 | $—@ | $— | $—@ |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Receive | 2.51 | Quarterly/Quarterly | 3/19/30 |  | 4695500 | (2) | (26) | 24 |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Pay | 2.32 | Quarterly/Quarterly | 9/17/27 |  | 19421000 | (15) |  | (15) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Pay | 2.33 | Quarterly/Quarterly | 6/18/27 |  | 36378000 | (44) |  | (44) |
| Morgan Stanley & Co. LLC | 3 Month KSDA | Pay | 2.51 | Quarterly/Quarterly | 6/18/30 |  | 4695500 | 1 |  | 1 |
| Morgan Stanley & Co. LLC | 6 Month BIBOR | Receive | 6.46 | Annual/Maturity | 9/17/30 | HUF | 715030 | (6) |  | (6) |
| Morgan Stanley & Co. LLC | 6 Month BIBOR | Pay | 6.87 | Semi-Annual/Annual | 12/18/34 |  | 914000 | 107 |  | 107 |
| Morgan Stanley & Co. LLC | 6 Month BIBOR | Pay | 6.92 | Semi-Annual/Annual | 6/19/29 |  | 99867 | 6 |  | 6 |
| Morgan Stanley & Co. LLC | 6 Month CLICP | Pay | 4.75 | Semi-Annual/Semi-Annual | 6/18/30 | CLP | 5150000 | (1) |  | (1) |
| Morgan Stanley & Co. LLC | 6 Month CLICP | Pay | 4.79 | Semi-Annual/Semi-Annual | 6/21/29 |  | 2750000 | 13 |  | 13 |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Receive | 3.86 | Annual/Maturity | 9/17/30 | CZK | 67810 | 3 |  | 3 |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 3.49 | Semi-Annual/Annual | 6/18/30 |  | 32140 | (25) |  | (25) |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 3.66 | Semi-Annual/Annual | 9/17/30 |  | 49170 | (23) |  | (23) |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 3.76 | Semi-Annual/Annual | 9/18/29 |  | 259000 | 186 |  | 186 |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 3.96 | Semi-Annual/Annual | 9/20/33 |  | 49943 | 36 |  | 36 |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 3.96 | Semi-Annual/Annual | 9/20/33 |  | 20700 | 15 |  | 15 |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 4.15 | Semi-Annual/Annual | 9/20/28 |  | 37900 | 57 |  | 57 |
| Morgan Stanley & Co. LLC | 6 Month PRIBOR | Pay | 4.33 | Semi-Annual/Annual | 12/20/33 |  | 30 | —@ |  | —@ |
| Morgan Stanley & Co. LLC | 6 Month WIBOR | Receive | 4.34 | Annual/Semi-Annual | 6/18/35 | PLN | 15735 | 80 |  | 80 |
| Morgan Stanley & Co. LLC | 6 Month WIBOR | Receive | 4.31 | Annual/Semi-Annual | 6/18/35 |  | 6584 | 37 |  | 37 |
| Morgan Stanley & Co. LLC | 6 Month WIBOR | Pay | 5.02 | Semi-Annual/Annual | 9/18/29 |  | 7600 | 106 |  | 106 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Centrally Cleared Interest Rate Swap Agreements: (cont'd)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap<br> Counterparty** | **Floating<br> Rate<br> Index** | **Pay/<br> Receive<br> Floating<br> Rate** | **Fixed<br> Rate** | **Payment<br> Frequency<br> Paid/<br> Received** | **Maturity<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Upfront<br> Payment<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Morgan Stanley & Co. LLC | 6 Month WIBOR | Pay | 5.16% | Semi-Annual/Annual | 6/21/28 | PLN | 17000 | $124 | $– $| 124 |
| Morgan Stanley & Co. LLC | 6 Month WIBOR | Pay | 5.26 | Semi-Annual/Annual | 6/12/28 |  | 40000 | 321 | – | 321 |
| Morgan Stanley & Co. LLC | 6 Month WIBOR | Pay | 5.42 | Semi-Annual/Annual | 6/19/29 |  | 13500 | 163 | – | 163 |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 9.70 | Maturity/ Maturity | 1/4/27 | BRL | 20700 | (387) | – | (387) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 9.88 | Maturity/ Maturity | 1/4/27 |  | 15600 | (271) | – | (271) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 10.65 | Maturity/ Maturity | 1/2/26 |  | 51283 | (343) | – | (343) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 10.78 | Maturity/ Maturity | 1/4/27 |  | 7060 | (86) | – | (86) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 11.18 | Maturity/ Maturity | 1/2/26 |  | 47700 | (248) | – | (248) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 11.65 | Maturity/ Maturity | 1/4/27 |  | 6800 | (57) | – | (57) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 12.75 | Maturity/ Maturity | 1/2/29 |  | 6200 | (32) | – | (32) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 13.02 | Maturity/ Maturity | 1/2/29 |  | 10040 | (28) | – | (28) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 13.18 | Maturity/ Maturity | 1/2/29 |  | 18380 | (34) | – | (34) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 13.51 | Maturity/ Maturity | 1/2/29 |  | 13456 | (4) | – | (4) |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 14.78 | Maturity/ Maturity | 1/4/27 |  | 16670 | 22 | – | 22 |
| Morgan Stanley & Co. LLC | BRL-CDI | Pay | 15.23 | Maturity/ Maturity | 1/4/27 |  | 16500 | 54 | – | 54 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.39 | Quarterly/Quarterly | 6/18/30 | CNY | 25942 | (30) | – | (30) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.44 | Quarterly/Quarterly | 3/19/30 |  | 15550 | (12) | – | (12) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.46 | Quarterly/Quarterly | 3/19/30 |  | 12650 | (8) | – | (8) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.46 | Quarterly/Quarterly | 9/17/30 |  | 20210 | (14) | – | (14) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.48 | Quarterly/Quarterly | 6/18/30 |  | 17350 | (10) | – | (10) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.48 | Quarterly/Quarterly | 9/17/30 |  | 23940 | (14) | – | (14) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.50 | Quarterly/Quarterly | 3/19/30 |  | 24200 | (9) | – | (9) |
| Morgan Stanley & Co. LLC | CNRR | Pay | 1.73 | Quarterly/Quarterly | 12/18/29 |  | 9000 | 9 | – | 9 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.03 | Quarterly/Quarterly | 9/18/29 |  | 14100 | 38 | – | 38 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.12 | Quarterly/Quarterly | 6/19/29 |  | 13600 | 42 | – | 42 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Centrally Cleared Interest Rate Swap Agreements: (cont'd)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap<br> Counterparty** | **Floating<br> Rate<br> Index** | **Pay/<br> Receive<br> Floating<br> Rate** | **Fixed<br> Rate** | **Payment<br> Frequency<br> Paid/<br> Received** | **Maturity<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Upfront<br> Payment<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.35% | Quarterly/Quarterly | 3/20/29 | CNY | 12000 | $49 | $– $| 49 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.39 | Quarterly/Quarterly | 12/20/28 |  | 17330 | 68 | – | 68 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.42 | Quarterly/Quarterly | 12/21/27 |  | 134000 | 395 | – | 395 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.44 | Quarterly/Quarterly | 12/20/28 |  | 89100 | 370 | – | 370 |
| Morgan Stanley & Co. LLC | CNRR | Pay | 2.48 | Quarterly/Quarterly | 9/20/28 |  | 14400 | 58 | – | 58 |
| Morgan Stanley & Co. LLC | CPIBR | Receive | 8.52 | Quarterly/Quarterly | 6/18/28 | COP | 9526000 | (11) | – | (11) |
| Morgan Stanley & Co. LLC | CPIBR | Receive | 8.42 | Quarterly/Quarterly | 6/18/28 |  | 4062000 | (2) | – | (2) |
| Morgan Stanley & Co. LLC | CPIBR | Receive | 8.29 | Quarterly/Quarterly | 6/18/28 |  | 23833000 | 8 | – | 8 |
| Morgan Stanley & Co. LLC | CPIBR | Receive | 8.25 | Quarterly/Quarterly | 6/18/28 |  | 7079000 | 4 | – | 4 |
| Morgan Stanley & Co. LLC | CPIBR | Receive | 8.24 | Quarterly/Quarterly | 6/18/28 |  | 6700000 | 4 | – | 4 |
| Morgan Stanley & Co. LLC | CPIBR | Receive | 8.24 | Quarterly/Quarterly | 6/18/28 |  | 2400000 | 2 | – | 2 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 5.69 | Semi-Annual/Semi-Annual | 9/17/30 | INR | 280000 | (3) | – | (3) |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 5.69 | Semi-Annual/Semi-Annual | 9/17/30 |  | 1655500 | (20) | – | (20) |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 5.71 | Semi-Annual/Semi-Annual | 9/17/30 |  | 785000 | (2) | – | (2) |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 5.91 | Semi-Annual/Semi-Annual | 12/18/29 |  | 400000 | 45 | – | 45 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 5.94 | Semi-Annual/Semi-Annual | 12/18/29 |  | 600000 | 74 | – | 74 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 5.95 | Semi-Annual/Semi-Annual | 6/18/30 |  | 390000 | 50 | – | 50 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 6.01 | Semi-Annual/Semi-Annual | 12/18/29 |  | 334000 | 51 | – | 51 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 6.03 | Semi-Annual/Semi-Annual | 12/18/29 |  | 430000 | 70 | – | 70 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 6.07 | Semi-Annual/Semi-Annual | 3/19/30 |  | 266000 | 50 | – | 50 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 6.26 | Semi-Annual/Semi-Annual | 3/20/29 |  | 970400 | 246 | – | 246 |
| Morgan Stanley & Co. LLC | MIBOR | Pay | 6.28 | Semi-Annual/Semi-Annual | 12/18/29 |  | 312000 | 86 | – | 86 |

---

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

Third Quarter Report – July 31, 2025 (unaudited)

Portfolio of Investments (cont'd)

**Centrally Cleared Interest Rate Swap Agreements: (cont'd)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap<br> Counterparty** | **Floating<br> Rate<br> Index** | **Pay/<br> Receive<br> Floating<br> Rate** | **Fixed<br> Rate** | **Payment<br> Frequency<br> Paid/<br> Received** | **Maturity<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value<br> (000)** | **Upfront<br> Payment<br> Received<br> (000)** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Morgan Stanley & Co. LLC | THOR | Pay | 1.26% | Quarterly/Quarterly | 9/17/30 | THB | 158000 | $(8) | $— | $(8) |
| Morgan Stanley & Co. LLC | THOR | Pay | 1.41 | Quarterly/Quarterly | 6/18/30 |  | 25220 | 3 |  | 3 |
| Morgan Stanley & Co. LLC | THOR | Pay | 2.68 | Quarterly/Quarterly | 6/21/33 |  | 120000 | 342 |  | 342 |
| Morgan Stanley & Co. LLC | THOR | Pay | 2.70 | Quarterly/Quarterly | 6/19/34 |  | 68480 | 209 |  | 209 |
|  |  |  |  |  |  |  |  | $2516 | $(26) | $2542 |

---

------

---

| | |
|:---|:---|
| @ | Value is less than $500. |
| ALL | — Albanian Lek |
| AMD | — Armenian Dram |
| ARS | — Argentine Peso |
| BRL | — Brazilian Real |
| CLP | — Chilean Peso |
| CNH | — Chinese Yuan Renminbi Offshore |
| CNY | — Chinese Yuan Renminbi |
| COP | — Colombian Peso |
| CZK | — Czech Koruna |
| DOP | — Dominican Peso |
| EGP | — Egyptian Pound |
| EUR | — Euro |
| GHS | — Ghanaian Cedi |
| HUF | — Hungarian Forint |
| IDR | — Indonesian Rupiah |
| INR | — Indian Rupee |
| KRW | — South Korean Won |
| KZT | — Kazakhstan Tenge |
| LKR | — Sri Lankan Rupee |
| MXN | — Mexican Peso |
| MYR | — Malaysian Ringgit |
| NGN | — Nigerian Naira |
| PEN | — Peruvian Nuevo Sol |
| PHP | — Philippine Peso |
| PLN | — Polish Zloty |
| PYG | — Paraguay Guarani |
| RON | — Romanian New Leu |
| RSD | — Serbia Dinar |
| THB | — Thai Baht |
| TRY | — Turkish Lira |
| TWD | — Taiwan Dollar |
| UGX | — Ugandan shilling |
| USD | — United States Dollar |
| UYU | — Uruguay Peso |
| UZS | — Uzbekistan Som |
| ZAR | — South African Rand |

---

**Portfolio Composition (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Classification** | **Percentage of<br> Total Investments** |  |
| Sovereign | 84.4 | % |
| Short-Term Investments | 8.8 |  |
| Corporate Bonds | 5.1 |  |
| Other\* | 1.7 |  |
| Total Investments | 100.0 | %\*\* |

---

\* Industries and/or investment types representing less than 5% of total investments.

\*\* Does not include open futures contracts with a value of approximately $13,461,000 and net unrealized depreciation of approximately $60,000. Does not include open foreign currency forward exchange contracts with net unrealized depreciation of approximately $1,184,000. Also does not include open swap agreements with net unrealized appreciation of approximately $2,542,000.

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

July 31, 2025 (unaudited)

Notes to Portfolio of Investments

**Security Valuation:** (1) Fixed income securities may be valued by an outside pricing service/vendor approved by the Fund's Board of Directors ("the Directors"). The pricing service/vendor may employ a pricing model that takes into account, among other things, bids, yield spreads and/or other market data and specific security characteristics. If Morgan Stanley Investment Management Inc. (the "Adviser") or Morgan Stanley Investment Management Limited ("MSIM Limited")(the "Sub-Adviser"), each a wholly-owned subsidiary of Morgan Stanley, determines that the price provided by the outside pricing service/vendor does not reflect the security's fair value or the pricing service/vendor or exchange is unable to provide a price, prices from reputable brokers/dealers may also be utilized. In these circumstances, the value of the security will be the mean of bid and asked prices obtained from reputable brokers/dealers; (2) when market quotations are not readily available, as defined by Rule 2a-5 under the Act, including circumstances under which the Adviser or the Sub-Adviser determines that the closing price, last sale price or the mean between the last reported bid and asked prices are not reflective of a security's market value, portfolio securities are valued at their fair value as determined in good faith under procedures approved by and under the general supervision of the Directors. Each business day, the Fund uses a third-party pricing service approved by the Directors to assist with the valuation of foreign equity securities. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities to more accurately reflect their fair value as of the close of regular trading on the NYSE; (3) listed options are valued at the last reported sales price on the exchange on which they are listed (or at the exchange official closing price if such exchange reports an official closing price). If an official closing price or last reported sales price is unavailable, the listed option should be fair valued at the mean between its latest bid and ask prices. Unlisted options are valued at the mean between their latest bid and ask prices from a broker/dealer or valued by a pricing service/vendor; (4) futures are valued at the settlement price on the exchange on which they trade or, if a settlement price is unavailable, at the last sale price on the exchange; (5) over-the-counter ("OTC") swaps may be valued by an outside pricing service approved by the Directors or quotes from a broker/dealer. Swaps cleared on a clearinghouse or exchange may be valued using the closing price provided by the clearinghouse or exchange; (6) foreign exchange transactions ("spot contracts") and foreign exchange forward contracts ("forward contracts") are valued daily using an independent pricing vendor at the spot and forward rates, respectively, as of the close of the NYSE; and (7) investments in mutual funds, including the Morgan Stanley Institutional Liquidity Funds, are valued at the net asset value as ("NAV") of the close of each business day.

In connection with Rule 2a-5 of the Act, the Directors have designated the Fund's Adviser as its valuation designee. The valuation designee has responsibility for determining fair value and to make the actual calculations pursuant to the fair valuation methodologies previously approved by the Directors. Under procedures approved by the Directors, the Fund's Adviser, as valuation designee, has formed a Valuation Committee whose members are approved by the Directors. The Valuation Committee provides administration and oversight of the Fund's valuation policies and procedures, which are reviewed at least annually by the Directors. These procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

July 31, 2025 (unaudited)

Notes to Portfolio of Investments (cont'd)

**Fair Value Measurement:** Financial Accounting Standards Board ("FASB") ASC 820, "Fair Value Measurement" ("ASC 820"), defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in valuing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs); and (2) inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in valuing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Fund's investments. The inputs are summarized in the three broad levels listed below:

● Level 1 – unadjusted quoted prices in active markets for identical investments

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

● Level 3 – significant unobservable inputs including the Fund's own assumptions in determining the fair value of investments. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer's financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each security.

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

July 31, 2025 (unaudited)

Notes to Portfolio of Investments (cont'd)

The following is a summary of the inputs used to value the Fund's investments as of July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Investment Type** |<br>**Level 1**<br>**Unadjusted**<br>**Quoted**<br>**Prices**<br>**(000)** | **Level 2**<br>**Other**<br>**Significant**<br>**Observable**<br>**Inputs**<br>**(000)** |<br>**Level 3**<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(000)** |<br><br>**Total**<br>**(000)** |
| **Assets:** |  |  |  |  |
| **Fixed Income Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | $— | $20060 | $— | $20060 |
| &nbsp;&nbsp;&nbsp;Loan Participation Notes |  |  | 2035 | 2035 |
| &nbsp;&nbsp;&nbsp;Sovereign |  | 334391 |  | 334391 |
| **Total Fixed Income Securities** | **—** | **354451** | **2035** | **356486** |
| **Warrants** |  | 4719 |  | 4719 |
| **Put Options Purchased** |  | 264 |  | 264 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Securities |  | 9908 |  | 9908 |
| &nbsp;&nbsp;&nbsp;Investment Company | 9047 |  |  | 9047 |
| &nbsp;&nbsp;&nbsp;Sovereign |  | 15925 |  | 15925 |
| **Total Short-Term Investments** | **9047** | **25833** | **—** | **34880** |
| **Foreign Currency Forward Exchange Contracts** |  | 6205 |  | 6205 |
| **Futures Contracts** | 38 |  |  | 38 |
| **Centrally Cleared Interest Rate Swap Agreements** |  | 4346 |  | 4346 |
| **Total Assets** | **9085** | **395818** | **2035** | **406938** |
| **Liabilities:** |  |  |  |  |
| **Call Option Written** |  | (390) |  | (390) |
| **Put Options Written** |  | (46) |  | (46) |
| **Foreign Currency Forward Exchange Contracts** |  | (7389) |  | (7389) |
| **Futures Contracts** | (98) |  |  | (98) |
| **Centrally Cleared Interest Rate Swap Agreements** |  | (1804) |  | (1804) |
| **Total Liabilities** | (98) | (9629) |  | (9727) |
| **Total** | $**8987** | $**386189** | $**2035** | $**397211** |

---

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment's valuation changes.

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

July 31, 2025 (unaudited)

Notes to Portfolio of Investments (cont'd)

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

---

| | |
|:---|:---|
|  | **Fixed<br>Income<br>(000)** |
| **Beginning Balance** | $5941 |
| &nbsp;&nbsp;&nbsp;Purchases |  |
| &nbsp;&nbsp;&nbsp;Sales | (3890) |
| &nbsp;&nbsp;&nbsp;Amortization of discount | 43 |
| &nbsp;&nbsp;&nbsp;Transfers in |  |
| &nbsp;&nbsp;&nbsp;Transfers out |  |
| &nbsp;&nbsp;&nbsp;Corporate actions |  |
| &nbsp;&nbsp;&nbsp;Change in unrealized appreciation (depreciation) | 270 |
| &nbsp;&nbsp;&nbsp;Realized gains (losses) | (329) |
| Ending Balance | $2035 |
| Net change in unrealized appreciation (depreciation) from investments still held as of July 31, 2025 | $124 |

---

The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 as of July 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Fair Value at<br> July 31, 2025<br> (000)** | **Valuation<br> Technique** | **Unobservable<br> Input** | **Range/<br> Weighted Average** | **Impact to<br> Valuation from an<br> Increase in Input\*** |
| Fixed Income | $2035 | Matrix Pricing | Adjusted Credit Spread to<br> the Central Bank of Uzbekistan<br> Quoted Policy Rate | 5.35% | Decrease |

---

\* Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

- **b. Investment Company Act file number:** 811-22011

- **c. CIK number of Registrant:** 0001388141

- **d. LEI of Registrant:** 541YGIXZ6JJP4EZDJI96

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

  - **Street Address 1:** 1585 Broadway

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 800-231-2608

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

- **a. Name of Series:** Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

- **c. LEI of Series:** 541YGIXZ6JJP4EZDJI96

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $420250622.10

**Total Liabilities:** $70848040.70

**Net Assets:** $349402581.40

**Cash Not Reported:** $4206757.59

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -79.35000000 | **1-Year:** -541.61000000 | **5-Year:** -91.34000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -453.93000000 | **1-Year:** -6154.31000000 | **5-Year:** -9289.73000000 | **10-Year:** -8118.49000000 | **30-Year:** -3588.59000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.49%                | 6.07%                | -0.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2864.17                | $5671767.20                                |
| Month 2  | $7238365.45              | $7523646.80                                |
| Month 3  | $2110725.58              | $-5159456.22                               |

**Designated Index Information**

- **Index Name:** JPM Govt Bond Index - EM Global Diversified Index

- **Index Identifier:** JPMGBIEMGDI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Goldman Sachs International                | PURCHASED EUR / SOLD HUF                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |            1 | NC      | $207.52       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |      1817100 | PA      | $254634.11    | 0.07%             | 2027-04-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $213572.77    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  24995000000 | PA      | $5567372.82   | 1.59%             | 2027-11-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  83000000000 | PA      | $5363493.44   | 1.54%             | 2035-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | XX        |            1 | NC      | $-541891.57   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MYR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |            1 | NC      | $-138881.90   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICNN3T4 IRS CNY R F  2.44000 II9341860231030 CCPNDF / Short: SMICNN3T4 IRS CNY P V 00MCNRR II5115910231030 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     89100000 | OU      | $370407.46    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |       506600 | PA      | $71177.30     | 0.02%             | 2037-04-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $80077.59     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        54000 | PA      | $10152.00     | 0.00%             | 2027-11-29      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                       | Republic of Uzbekistan International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  42000000000 | PA      | $3337198.15   | 0.96%             | 2028-02-25      | Fixed         | 15.50%                | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |            1 | NC      | $6704.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                    | Turkiye Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     50000000 | PA      | $870949.93    | 0.25%             | 2028-07-19      | Fixed         | 17.30%                | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                   | Brazil Notas do Tesouro Nacional Serie B                                                                                                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      4200000 | PA      | $3242410.64   | 0.93%             | 2030-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                    | Mexican Bonos                                                                                                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    135014500 | PA      | $6488809.90   | 1.86%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $-15441.57    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMID6Q3V9 IRS CLP R F  4.78500 II2941390240312 CCPNDFCAMARAPR / Short: SMID6Q3V9 IRS CLP P V 06MCLICP II9908410240312 CCPNDFCAMARAPR | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   2750000000 | OU      | $13170.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       177000 | PA      | $33287.33     | 0.01%             | 2037-03-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $2576.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED UYU / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | UY        |            1 | NC      | $-2934.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                    | Ethiopia International Bond                                                                                                                | CUSIP: 29766LAA4<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |       290000 | PA      | $267153.80    | 0.08%             | 2025-12-11      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED EUR / SOLD RON                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |            1 | NC      | $-2935.77     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $-202611.65   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIE9ZXF6 IRS CNY R F  1.43500 II8453150241213 CCPNDF / Short: SMIE9ZXF6 IRS CNY P V 00MCNRR II6011370241213 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     15550000 | OU      | $-12482.98    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                        | Benin Government International Bond                                                                                                        | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |       559000 | PA      | $541971.47    | 0.16%             | 2038-02-13      | Fixed         | 7.96%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIEQTG94 IRS KRW R V 03MKSDA II5263650250509 CCPNDF / Short: BMIEQTG94 IRS KRW P F  2.50700 II9578310250509 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4695500000 | OU      | $-2499.78     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                   | Suriname Government International Bond                                                                                                     | CUSIP: 86886PAC6<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |        18819 | PA      | $18771.96     | 0.01%             | 2033-07-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  58978000000 | PA      | $3997185.69   | 1.14%             | 2031-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                   | Kazakhstan Government Bond - MEUKAM                                                                                                        | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    209238000 | PA      | $287625.67    | 0.08%             | 2028-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD NGN                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-191323.68   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF5NG97 IRS CNY R F  1.47900 II4659460250709 CCPNDF / Short: SMIF5NG97 IRS CNY P V 00MCNRR II8750400250709 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     23940000 | OU      | $-14140.88    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MEXICAN UDIBONOS                           | Mexican Udibonos                                                                                                                           | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    121895211 | PA      | $5706205.15   | 1.63%             | 2031-11-27      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED BRL / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |            1 | NC      | $136460.24    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $45244.48     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $26794.82     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $15244.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DOM REP CB NOTES                           | Dominican Republic Central Bank Notes                                                                                                      | CUSIP: 25714RCY8<br>LEI: 549300DTVR57NON7XL66 | Long             | DBT              | NUSS              | DO        |     15000000 | PA      | $237085.73    | 0.07%             | 2027-03-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICA0SC8 IRS CNY R F  2.47900 II1769110230802 CCPNDF / Short: SMICA0SC8 IRS CNY P V 00MCNRR II4755710230802 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     14400000 | OU      | $58342.33     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED TRY / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $12546.05     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIE40BJ4 IRS HUF R F  6.86500 II7821710241028 CCPVANILLA / Short: SMIE40BJ4 IRS HUF P V 06MBUBOR II1554170241028 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    914000000 | OU      | $22038.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $-58303.10    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CN        |            1 | NC      | $-24636.81    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MYR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |            1 | NC      | $-70958.05    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  47240000000 | PA      | $2966934.45   | 0.85%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: BMIEZD3F9 IRS COP R V 00MCPIBR II5148660250603 CCPNDFOIS / Short: BMIEZD3F9 IRS COP P F  8.23870 II3734620250603 CCPNDFOIS           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   6700000000 | OU      | $4318.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | BMIF7RHH7                                                                                                                                  | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |      2900000 | OU      | $14514.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                         | Peru Government Bond                                                                                                                       | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     21662000 | PA      | $6393885.86   | 1.83%             | 2039-08-12      | Fixed         | 7.60%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CN        |            1 | NC      | $-82364.70    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-23487.06    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       322000 | PA      | $49942.20     | 0.01%             | 2020-12-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BONOS DE TESORERIA                         | Peru Government Bond                                                                                                                       | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     23639000 | PA      | $6671150.25   | 1.91%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF5P438 IRS CZK R F  3.65850 II3278790250709 CCPVANILLA / Short: SMIF5P438 IRS CZK P V 06MPRIBR II6254470250709 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     49170000 | OU      | $-23144.14    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD PEN                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-103740.77   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd. | PURCHASED THB / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | N/A              | DFE              |  | TH        |            1 | NC      | $-119856.35   | -0.03%            |  |  |  | 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      | $43741.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                        | Malaysia Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     11420000 | PA      | $2705061.43   | 0.77%             | 2040-05-22      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        97000 | PA      | $18107.48     | 0.01%             | 2022-05-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED THB / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | TH        |            1 | NC      | $-3146.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SERBIA TREASURY BONDS                      | Serbia Treasury Bonds                                                                                                                      | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     45030000 | PA      | $427118.28    | 0.12%             | 2032-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED USD / SOLD CNH                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $28838.68     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | EG        |            1 | NC      | $404.18       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF4J3A8 IRS MYR R F  3.17500 II4143670250702 CCPNDF / Short: SMIF4J3A8 IRS MYR P V 03MKLIBO II3085590250702 CCPNDF                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     10100000 | OU      | $5678.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF4J5R9 IRS INR R F  5.69000 II3029200250702 CCPNDFOIS / Short: SMIF4J5R9 IRS INR P V 00MMIBOR II6209740250702 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1655500000 | OU      | $-20350.09    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $-31638.08    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-36217.06    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Eurex Deutschland                          | EURO-SCHATZ FUT SEP25                                                                                                                      | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |           -5 | NC      | $2082.69      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                   | Kazakhstan Government Bond - MEUKAM                                                                                                        | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    313857000 | PA      | $526281.64    | 0.15%             | 2032-05-19      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                    | Romania Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      8910000 | PA      | $1585760.13   | 0.45%             | 2036-04-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                       | Paraguay Government International Bond                                                                                                     | CUSIP: 699149BX7<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   1804000000 | PA      | $233029.26    | 0.07%             | 2035-03-04      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |     23600000 | PA      | $299989.85    | 0.09%             | 2035-01-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-69279.70    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED UYU / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | UY        |            1 | NC      | $6388.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED TRY / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $30348.59     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       236600 | PA      | $46604.29     | 0.01%             | 2022-08-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED MXN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |            1 | NC      | $97296.16     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $32235.45     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       404500 | PA      | $83974.20     | 0.02%             | 2031-08-05      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MYR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |            1 | NC      | $-11224.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | ID        |            1 | NC      | $-13839.18    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                    | Romania Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     23000000 | PA      | $4353686.18   | 1.25%             | 2034-10-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED COP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | CO        |            1 | NC      | $31601.24     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                    | Turkiye Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    211726020 | PA      | $4783044.85   | 1.37%             | 2033-10-05      | Fixed         | 26.20%                | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIF0GQ47 IRS KRW R V 03MKSDA II3228310250610 CCPVANILLA / Short: BMIF0GQ47 IRS KRW P F  2.64450 II1561680250610 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4380000000 | OU      | $-44.18       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-11029.77    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                   | Suriname Government International Bond                                                                                                     | CUSIP: 86886PAD4<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |       367400 | PA      | $428021.00    | 0.12%             | 2050-12-31      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ID        |            1 | NC      | $-4862.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                    | Turkiye Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    157735637 | PA      | $3670042.65   | 1.05%             | 2034-09-27      | Fixed         | 27.70%                | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | DBT              | NUSS              | UY        |     26730000 | PA      | $656157.81    | 0.19%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-8006.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | IN        |            1 | NC      | $-561192.69   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                    | Turkiye Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      3000000 | PA      | $69286.76     | 0.02%             | 2028-11-08      | Fixed         | 31.08%                | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | XX        |            1 | NC      | $-950126.85   | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIEDMUQ9 IRS BRL R F 15.23000 II6200730250114 CCPNDFPREDISWA / Short: SMIEDMUQ9 IRS BRL P V 00MBRCDI II5662540250114 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     16500000 | OU      | $54490.91     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CN        |            1 | NC      | $-13430.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| IPOTEKA-BANK ATIB                          | Ipoteka-Bank ATIB                                                                                                                          | CUSIP: 000000000<br>LEI: 213800UWVX5JSNXJS434 | Long             | DBT              | CORP              | UZ        |  15590000000 | PA      | $1261793.83   | 0.36%             | 2027-04-25      | Fixed         | 20.50%                | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-31552.51    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED EUR / SOLD RON                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |            1 | NC      | $-3364.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      5000000 | PA      | $17397.53     | 0.00%             | 2030-05-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                        | Egypt Treasury Bills                                                                                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |      7000000 | PA      | $139996.04    | 0.04%             | 2025-09-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                     | US LONG BOND(CBT) SEP25                                                                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |           -3 | NC      | $-11343.75    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ID        |            1 | NC      | $-1177.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      5731643 | PA      | $464281.45    | 0.13%             | 2028-02-15      | Fixed         | 8.50%                 | 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      | $92531.89     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEHH9N7 IRS CNY R F  1.50200 II1320420250212 CCPNDF / Short: SMIEHH9N7 IRS CNY P V 00MCNRR II3167640250212 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     24200000 | OU      | $-9235.69     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED USD / SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $6894.32      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEGKYP8 IRS CNY R F  1.45800 II2954630250205 CCPNDF / Short: SMIEGKYP8 IRS CNY P V 00MCNRR II6910860250205 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     12650000 | OU      | $-8326.29     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      1489940 | PA      | $98395.18     | 0.03%             | 2035-02-06      | Fixed         | 9.55%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                        | Benin Government International Bond                                                                                                        | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |      1077000 | PA      | $1056125.17   | 0.30%             | 2052-01-19      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     14000000 | PA      | $47757.93     | 0.01%             | 2029-10-15      | Fixed         | 10.35%                | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                    | Bahamas Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |      1174000 | PA      | $1251484.00   | 0.36%             | 2032-10-15      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |       290600 | PA      | $45188.30     | 0.01%             | 2022-02-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | XX        |            1 | NC      | $-4075.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIE45WJ0 IRS BRL R F 12.74500 II2392350241029 CCPNDFPREDISWA / Short: SMIE45WJ0 IRS BRL P V 00MBRCDI II0971360241029 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      6200000 | OU      | $-31815.20    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | BMIF94LC2                                                                                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |      8060000 | OU      | $55936.40     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED KRW / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | KR        |            1 | NC      | $-1946.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      6000000 | PA      | $20795.47     | 0.01%             | 2031-03-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMICXCRW4 IRS BRL R F  9.69500 II8293490240102 CCPNDFPREDISWA / Short: SMICXCRW4 IRS BRL P V 00MBRCDI II4717140240102 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     20700000 | OU      | $-387388.38   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | ID        |            1 | NC      | $-1301.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       365500 | PA      | $81360.30     | 0.02%             | 2026-10-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF CAMEROON                       | Republic of Cameroon International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 54930021BO6NHYGBBV24 | Long             | DBT              | NUSS              | CM        |       411000 | PA      | $374991.77    | 0.11%             | 2032-07-07      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND                   | Thailand Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |     50000000 | PA      | $1465328.04   | 0.42%             | 2049-06-17      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-31212.33    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                        | Egypt Treasury Bills                                                                                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |    124700000 | PA      | $2571696.81   | 0.74%             | 2025-08-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $-7571.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF5NGF3 IRS THB R F  1.26400 II9540140250709 CCPNDFOIS / Short: SMIF5NGF3 IRS THB P V 00MTHOR II7184500250709 CCPNDFOIS            | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    158000000 | OU      | $-8390.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                    | Bahamas Government International Bond                                                                                                      | CUSIP: 056732AP5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |       275000 | PA      | $279812.50    | 0.08%             | 2036-06-24      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | BMIF86L61                                                                                                                                  | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |     -1370000 | OU      | $-7954.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD NGN                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $-132791.20   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                     | Republic of Uganda Government Bonds                                                                                                        | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |   2129400000 | PA      | $511885.41    | 0.15%             | 2043-06-18      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED EUR / SOLD PLN                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |            1 | NC      | $-19661.14    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     14000000 | PA      | $46297.80     | 0.01%             | 2030-07-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                    | Mexican Bonos                                                                                                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     94150900 | PA      | $4121119.79   | 1.18%             | 2047-11-07      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                    | Ethiopia International Bond                                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |      4412000 | PA      | $4070070.00   | 1.16%             | 2024-12-11      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ID        |            1 | NC      | $-1547.53     | -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      | $151175.95    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria            | Nigeria OMO Bill                                                                                                                           | CUSIP: 000000000<br>LEI: 549300G1JG004Y3K8S97 | Long             | STIV             | NUSS              | NG        |   1078204000 | PA      | $675062.37    | 0.19%             | 2025-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      6901055 | PA      | $592074.74    | 0.17%             | 2027-02-16      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MXN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MX        |            1 | NC      | $33860.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | IN        |            1 | NC      | $-68276.78    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDK1X29 IRS CNY R F  2.02800 II7080430240604 CCPNDF / Short: SMIDK1X29 IRS CNY P V 00MCNRR II2621000240604 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     14100000 | OU      | $38085.24     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-40003.91    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIE4XCV4 IRS INR R F  6.28000 II9991010241105 CCPNDFOIS / Short: SMIE4XCV4 IRS INR P V 00MMIBOR II1935740241105 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    312000000 | OU      | $86334.41     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                         | Dominican Republic International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    107000000 | PA      | $1687074.32   | 0.48%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $-6140.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD PHP                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $180057.30    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |       938000 | PA      | $61125.50     | 0.02%             | 2037-02-03      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEFTDM0 IRS INR R F  6.07300 II0630370250129 CCPNDFOIS / Short: SMIEFTDM0 IRS INR P V 00MMIBOR II1191710250129 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    266000000 | OU      | $49528.94     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED RON / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | RO        |            1 | NC      | $875.84       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIED1R22 IRS KRW R V 03MKSDA II0233650250110 CCPVANILLA / Short: BMIED1R22 IRS KRW P F  2.69000 II5113140250110 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2018000000 | OU      | $-7491.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa                   | Republic of South Africa Government Bond                                                                                                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     17350000 | PA      | $945936.88    | 0.27%             | 2030-01-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-180874.25   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    535000000 | PA      | $1686894.85   | 0.48%             | 2034-09-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |     17100000 | PA      | $217881.12    | 0.06%             | 2034-07-25      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                     | Montenegro Government International Bond                                                                                                   | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |       261000 | PA      | $291716.82    | 0.08%             | 2027-12-16      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF5NHE5 IRS MYR R F  3.18200 II9583550250709 CCPNDF / Short: SMIF5NHE5 IRS MYR P V 03MKLIBO II0730490250709 CCPNDF                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     28000000 | OU      | $17876.67     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $19205.85     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED BRL / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |            1 | NC      | $28881.48     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  66286000000 | PA      | $4106734.04   | 1.18%             | 2043-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $14036.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                        | Benin Government International Bond                                                                                                        | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |       223000 | PA      | $237874.66    | 0.07%             | 2032-01-19      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       189000 | PA      | $35532.00     | 0.01%             | 2025-06-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                    | Mexican Bonos                                                                                                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     51604700 | PA      | $2722686.46   | 0.78%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                         | Peru Government Bond                                                                                                                       | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     23391000 | PA      | $6159402.31   | 1.76%             | 2034-08-12      | Fixed         | 5.40%                 | 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      | $317212.35    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria            | Nigeria OMO Bill                                                                                                                           | CUSIP: 000000000<br>LEI: 549300G1JG004Y3K8S97 | Long             | STIV             | NUSS              | NG        |    428687000 | PA      | $259849.58    | 0.07%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED CLP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CL        |            1 | NC      | $-259211.88   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      4645761 | PA      | $316018.83    | 0.09%             | 2033-02-08      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD PEN                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-9086.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED TWD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | TW        |            1 | NC      | $-160370.17   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                     | U.S. Treasury Bills                                                                                                                        | CUSIP: 912797QR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |      7000000 | PA      | $6909591.43   | 1.98%             | 2025-11-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $11682.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED EUR / SOLD CZK                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |            1 | NC      | $-58859.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED PLN / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | PL        |            1 | NC      | $4348.15      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                      | Philippine Government Bond                                                                                                                 | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     80820000 | PA      | $1408946.74   | 0.40%             | 2035-04-28      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED USD / SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $99838.32     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BONO TESORO CAPITALIZAB                    | Bono Del Tesoro Nacional Capitalizable en Pesos                                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AR        |   1739853000 | PA      | $1359820.69   | 0.39%             | 2026-06-30      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIF4EMT7 IRS BRL R F 13.02000 II9227630250701 CCPNDFPREDISWA / Short: SMIF4EMT7 IRS BRL P V 00MBRCDI II9010570250701 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     10040000 | OU      | $-28162.67    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                    | Turkiye Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      3000000 | PA      | $48904.17     | 0.01%             | 2033-07-13      | Fixed         | 17.80%                | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      2260000 | PA      | $421645.38    | 0.12%             | 2023-05-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        86000 | PA      | $16098.13     | 0.00%             | 2024-11-04      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED PEN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | PE        |            1 | NC      | $-6091.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | ID        |            1 | NC      | $-56896.87    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                   | Morgan Stanley Institutional Liquidity Funds - Treasury Securities Portfolio                                                               | CUSIP: 61747C525<br>LEI: 549300OJY9IZ31SGS926 | Long             | STIV             | RF                | US        |      9047307 | NS      | $9047306.51   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| TBC BANK GROUP PLC                         | TBC Bank Group PLC                                                                                                                         | CUSIP: 000000000<br>LEI: 213800T6NS9N2WQ3B328 | Long             | DBT              | CORP              | GB        |  15360000000 | PA      | $1213196.54   | 0.35%             | 2028-06-05      | Fixed         | 22.00%                | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDF5EE1 IRS BRL R F 10.77500 II2314850240508 CCPNDFPREDISWA / Short: SMIDF5EE1 IRS BRL P V 00MBRCDI II4303920240508 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      7060000 | OU      | $-86030.11    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                         | Dominican Republic International Bond                                                                                                      | CUSIP: 25714WBR3<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     41000000 | PA      | $741768.92    | 0.21%             | 2029-09-23      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    311000000 | PA      | $1079973.76   | 0.31%             | 2032-12-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        34000 | PA      | $6363.95      | 0.00%             | 2026-11-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIBCD2G9 IRS CNY R F  2.41520 II4158990221101 CCPNDF / Short: SMIBCD2G9 IRS CNY P V 00MCNRR II1754630221101 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    134000000 | OU      | $394836.96    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED EUR / SOLD PLN                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | XX        |            1 | NC      | $17310.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: BMIEZNR79 IRS COP R V 00MCPIBR II0984030250604 CCPNDFOIS / Short: BMIEZNR79 IRS COP P F  8.23500 II3601690250604 CCPNDFOIS           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   2400000000 | OU      | $1603.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SWAP BNP PARIBAS BOC                       | SWAP BNP PARIBAS BOC                                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |      -590000 | NS      | $-590000.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa                   | Republic of South Africa Government Bond                                                                                                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    232216600 | PA      | $12174409.00  | 3.48%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CZ        |            1 | NC      | $14678.79     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                    | Hungary Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    452940000 | PA      | $774585.30    | 0.22%             | 2041-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Venezuela Government International Bonds   | Venezuela Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       430000 | PA      | $86043.00     | 0.02%             | 2038-03-31      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDJYME5 IRS PLN R F  5.02000 II3258760240603 CCPVANILLA / Short: SMIDJYME5 IRS PLN P V 06MWIBOR II3732740240603 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      7600000 | OU      | $64473.71     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDBS3T4 IRS PLN R F  5.42250 II0312810240416 CCPVANILLA / Short: SMIDBS3T4 IRS PLN P V 06MWIBOR II9702840240416 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     13500000 | OU      | $161312.31    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED USD / SOLD PHP                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $316250.61    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF3CZM3 IRS MYR R F  3.20100 II8225030250625 CCPNDF / Short: SMIF3CZM3 IRS MYR P V 03MKLIBO II3823940250625 CCPNDF                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     14900000 | OU      | $12596.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ITAU BBA INTERNATIONAL                     | Itau BBA International PLC                                                                                                                 | CUSIP: 000000000<br>LEI: 5493009ADHYKU8V9P697 | Long             | SN               | CORP              | GB        |  18493970000 | PA      | $2644267.83   | 0.76%             | 2030-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                        | Egypt Treasury Bills                                                                                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     13725000 | PA      | $264593.51    | 0.08%             | 2025-10-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIE0UJG0 IRS INR R F  6.02550 II9392750241003 CCPNDFOIS / Short: SMIE0UJG0 IRS INR P V 00MMIBOR II3658910241003 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    430000000 | OU      | $70214.21     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |     37000000 | PA      | $442141.44    | 0.13%             | 2027-02-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $-3670.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |            1 | NC      | $99.71        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | ID        |            1 | NC      | $-53961.65    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $15490.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIED1UC6 IRS KRW R V 03MKSDA II1729090250110 CCPVANILLA / Short: BMIED1UC6 IRS KRW P F  2.70000 II6783750250110 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    805000000 | OU      | $-3500.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                         | Dominican Republic International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     40450000 | PA      | $723251.32    | 0.21%             | 2035-09-15      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIC3N8R5 IRS THB R F  2.68100 II8882140230614 CCPNDFOIS / Short: SMIC3N8R5 IRS THB P V 00MTHOR II7343900230614 CCPNDFOIS            | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    120000000 | OU      | $338106.61    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  20000000000 | PA      | $1377230.57   | 0.39%             | 2039-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $8999.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SERBIA TREASURY BONDS                      | Serbia Treasury Bonds                                                                                                                      | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    619130000 | PA      | $6724429.67   | 1.92%             | 2031-10-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MYR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |            1 | NC      | $-20501.23    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIC3H6U3 IRS CZK R F  3.95500 II0979030230613 CCPVANILLA / Short: SMIC3H6U3 IRS CZK P V 06MPRIBO II1030750230613 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     49943085 | OU      | $-8538.65     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |            1 | NC      | $-25335.10    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED RON / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | RO        |            1 | NC      | $7741.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       466000 | PA      | $86256.60     | 0.02%             | 2025-04-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED USD / SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $705.53       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: BMIEZF5J4 IRS COP R V 00MCPIBR II0031340250603 CCPNDFOIS / Short: BMIEZF5J4 IRS COP P F  8.24500 II0863900250603 CCPNDFOIS           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   7079000000 | OU      | $4277.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |     43200000 | PA      | $520664.56    | 0.15%             | 2032-02-07      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Guatemala Government Bonds                 | Guatemala Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |       283000 | PA      | $290660.81    | 0.08%             | 2036-06-13      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    114500000 | PA      | $1368525.49   | 0.39%             | 2027-07-10      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-71431.26    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        68000 | PA      | $12716.00     | 0.00%             | 2020-06-19      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                   | Suriname Government International Bond                                                                                                     | CUSIP: 86886PAD4<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |       307600 | PA      | $358354.00    | 0.10%             | 2050-12-31      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       114000 | PA      | $21432.00     | 0.01%             | 2029-05-25      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | IN        |            1 | NC      | $-20264.60    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED TRY / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | TR        |            1 | NC      | $16300.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CZ        |            1 | NC      | $6710.79      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED RON / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | RO        |            1 | NC      | $3941.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMID0D3N2 IRS BRL R F  9.88250 II9865320240123 CCPNDFPREDISWA / Short: SMID0D3N2 IRS BRL P V 00MBRCDI II7570960240123 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     15600000 | OU      | $-271424.77   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED USD / SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $203932.69    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |      6100000 | PA      | $74614.75     | 0.02%             | 2040-02-19      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIED9T15 IRS KRW R V 03MKSDA II0755040250113 CCPVANILLA / Short: BMIED9T15 IRS KRW P F  2.79200 II4904470250113 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    769000000 | OU      | $-7844.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | ID        |            1 | NC      | $2582.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $53068.53     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |      1800000 | PA      | $21516.56     | 0.01%             | 2028-01-10      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND                   | Thailand Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |     50000000 | PA      | $1808885.79   | 0.52%             | 2038-06-17      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |            1 | NC      | $4310.16      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CZ        |            1 | NC      | $8604.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED EUR / SOLD PLN                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |            1 | NC      | $-43378.23    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 922646AS3<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |      2137000 | PA      | $473024.95    | 0.14%             | 2027-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED BRL / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | BR        |            1 | NC      | $-59543.15    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF2UQ51 IRS MYR R F  3.27200 II1471210250623 CCPNDF / Short: SMIF2UQ51 IRS MYR P V 03MKLIBO II2240520250623 CCPNDF                 | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      4300000 | OU      | $6959.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-16639.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      4323096 | PA      | $320160.59    | 0.09%             | 2030-02-12      | Fixed         | 8.80%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED PLN / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | PL        |            1 | NC      | $80874.01     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    729000000 | PA      | $2545034.77   | 0.73%             | 2028-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      2346000 | PA      | $152564.88    | 0.04%             | 2038-02-02      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED CLP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CL        |            1 | NC      | $-65521.04    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | EG        |            1 | NC      | $144.10       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | CN        |            1 | NC      | $-117585.89   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                     | Montenegro Government International Bond                                                                                                   | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |      1963000 | PA      | $2220748.62   | 0.64%             | 2032-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $230766.95    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        15000 | PA      | $2803.13      | 0.00%             | 2024-04-22      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED CLP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CL        |            1 | NC      | $-68480.98    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED PLN / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | PL        |            1 | NC      | $-7154.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |            1 | NC      | $176015.77    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                   | Kazakhstan Government Bond - MEUKAM                                                                                                        | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    460322000 | PA      | $777502.78    | 0.22%             | 2031-05-12      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |            1 | NC      | $56540.20     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas Suisse SA                      | Long: BMIELUM08 IRS MYR R F  3.48000 II5028990250307 NDF / Short: BMIELUM08 IRS MYR P V 03MKLIBO II2546860250307 NDF                       | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DIR              |  | FR        |    105420000 | OU      | $399577.64    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanon Government International Bonds     | Lebanon Government International Bonds                                                                                                     | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       138000 | PA      | $25823.25     | 0.01%             | 2027-03-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   4382700000 | PA      | $696858.26    | 0.20%             | 2036-07-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD BRL                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $19253.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDC7RT3 IRS HUF R F  6.92000 II8222640240418 CCPVANILLA / Short: SMIDC7RT3 IRS HUF P V 06MBUBOR II3322430240418 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     99867000 | OU      | $5624.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED PEN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | PE        |            1 | NC      | $19709.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MXN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MX        |            1 | NC      | $32521.24     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD CLP                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $2510.44      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF5NGK2 IRS INR R F  5.71000 II1950690250709 CCPNDFOIS / Short: SMIF5NGK2 IRS INR P V 00MMIBOR II1825880250709 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    785000000 | OU      | $-2110.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | STIV             | NUSS              | UY        |      8824000 | PA      | $209812.43    | 0.06%             | 2026-03-06      | None          | 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      | $5249.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd. | PURCHASED USD / SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | N/A              | DFE              |  | US        |            1 | NC      | $50303.33     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | STIV             | NUSS              | UY        |      9572000 | PA      | $233273.43    | 0.07%             | 2025-10-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                       | Republic of Uzbekistan International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  55720000000 | PA      | $4490228.27   | 1.29%             | 2026-10-12      | Fixed         | 16.25%                | Yes           |                  2 | On Loan: No      |
| UGANDA GOVERNMENT BOND                     | Republic of Uganda Government Bonds                                                                                                        | CUSIP: 000000000<br>LEI: 549300NF1DEFHG8XLQ11 | Long             | DBT              | NUSS              | UG        |   5390100000 | PA      | $1410349.21   | 0.40%             | 2039-06-23      | Fixed         | 15.80%                | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                         | Dominican Republic International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      7000000 | PA      | $110157.34    | 0.03%             | 2027-02-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   8253900000 | PA      | $2105263.05   | 0.60%             | 2033-02-09      | Fixed         | 13.25%                | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                        | Egypt Treasury Bills                                                                                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     17625000 | PA      | $350578.12    | 0.10%             | 2025-09-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $54459.27     | 0.02%             |  |  |  | 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      | $72374.18     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                     | US 5YR NOTE (CBT) SEP25                                                                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          -40 | NC      | $-28773.41    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                | PURCHASED PLN / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | PL        |            1 | NC      | $-46.21       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIEEULM9 IRS KRW R V 03MKSDA II8476810250122 CCPVANILLA / Short: BMIEEULM9 IRS KRW P F  2.68500 II8316010250122 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    985000000 | OU      | $-3343.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                     | Montenegro Government International Bond                                                                                                   | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |       270000 | PA      | $280607.81    | 0.08%             | 2031-03-12      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| GHANA COCOA BOND                           | Ghana Cocoa Bond                                                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GH        |      1263061 | PA      | $108866.24    | 0.03%             | 2027-08-30      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                    | Turkiye Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     44155000 | PA      | $998370.81    | 0.29%             | 2029-09-12      | Fixed         | 30.00%                | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEWEFW0 IRS CZK R F  3.49200 II8229490250514 CCPVANILLA / Short: SMIEWEFW0 IRS CZK P V 06MPRIBR II4486710250514 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     32140000 | OU      | $-24652.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     30000000 | PA      | $90394.85     | 0.03%             | 2033-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED USD / SOLD CNH                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $37879.60     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | STIV             | NUSS              | UY        |     90000000 | PA      | $2225077.78   | 0.64%             | 2025-09-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | IN        |            1 | NC      | $-112953.20   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | IN        |            1 | NC      | $-47995.99    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria            | Nigeria OMO Bill                                                                                                                           | CUSIP: 000000000<br>LEI: 549300G1JG004Y3K8S97 | Long             | STIV             | NUSS              | NG        |   3141209000 | PA      | $1947351.70   | 0.56%             | 2025-10-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICS5EB5 IRS CNY R F  2.39250 II0415680231122 CCPNDF / Short: SMICS5EB5 IRS CNY P V 00MCNRR II9872020231122 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17330000 | OU      | $68268.33     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED RON / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | RO        |            1 | NC      | $10588.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICA0V83 IRS CZK R F  3.96000 II0125270230802 CCPVANILLA / Short: SMICA0V83 IRS CZK P V 06MPRIBO II3012340230802 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     20700000 | OU      | $-3200.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                    | European Bank for Reconstruction & Development                                                                                             | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |      1700000 | PA      | $1717708.90   | 0.49%             | 2026-04-09      | Fixed         | 17.20%                | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD PEN                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-15906.69    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $-228938.53   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $140580.54    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                        | Petroleos Mexicanos                                                                                                                        | CUSIP: 71654QDH2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      1720000 | PA      | $1722843.16   | 0.49%             | 2025-10-16      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED TRY / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $155071.61    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIER14U0 IRS KRW R F  2.50700 II3900830250404 CCPVANILLA / Short: SMIER14U0 IRS KRW P V 03MKSDA II5296560250404 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   4695500000 | OU      | $1335.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                    | Republic of Armenia Treasury Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    363902000 | PA      | $932482.39    | 0.27%             | 2050-10-29      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BONO TESORO CAPITALIZAB                    | Bono Del Tesoro Nacional Capitalizable en Pesos                                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AR        |   1003600000 | PA      | $786045.71    | 0.22%             | 2027-01-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | Long: BMIDKJ7G8 IRS MYR R F  3.67500 II6615320240606 NDF / Short: BMIDKJ7G8 IRS MYR P V 03MKLIBO II2537390240606 NDF                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | GB        |     45400000 | OU      | $230922.60    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       102000 | PA      | $19109.70     | 0.01%             | 2028-11-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD NGN                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-123277.04   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: BMIF3G323 IRS COP R V 00MCPIBR II5012220250625 CCPNDFOIS / Short: BMIF3G323 IRS COP P F  8.51500 II3034170250625 CCPNDFOIS           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   9526000000 | OU      | $-10722.31    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-151674.03   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | BMIF6EU41                                                                                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |     -6303000 | OU      | $-390943.58   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                    | Republic of Armenia Treasury Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    393410000 | PA      | $1006851.23   | 0.29%             | 2052-10-29      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       532000 | PA      | $99284.50     | 0.03%             | 2023-01-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED CLP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CL        |            1 | NC      | $-62062.05    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIEVPXL0 IRS CLP R F  4.75000 II2149700250508 CCPNDFCAMARAPR / Short: SMIEVPXL0 IRS CLP P V 06MCLICP II8112760250508 CCPNDFCAMARAPR | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   5150000000 | OU      | $-1324.29     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                       | Republic of Uzbekistan International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  40000000000 | PA      | $3227512.11   | 0.92%             | 2027-05-29      | Fixed         | 16.63%                | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED BRL / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | BR        |            1 | NC      | $28020.70     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED TWD / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | TW        |            1 | NC      | $-49909.78    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIEGHUE4 IRS KRW R V 03MKSDA II4385290250205 CCPVANILLA / Short: BMIEGHUE4 IRS KRW P F  2.63000 II9618390250205 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    546000000 | OU      | $56.65        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED TRY / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $26433.42     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | BMIF86L46                                                                                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |      7100000 | OU      | $35535.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICLB3M7 IRS CZK R F  4.33000 II5201470231012 CCPVANILLA / Short: SMICLB3M7 IRS CZK P V 06MPRIBO II7300180231012 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |        30000 | OU      | $31.20        | 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      | $375852.84    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | ID        |            1 | NC      | $-11680.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED KRW / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | KR        |            1 | NC      | $-29684.85    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa                   | Republic of South Africa Government Bond                                                                                                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     38328907 | PA      | $1873106.82   | 0.54%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd. | PURCHASED THB / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | N/A              | DFE              |  | TH        |            1 | NC      | $-24592.01    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMID88R41 IRS CNY R F  2.12250 II3842900240320 CCPNDF / Short: SMID88R41 IRS CNY P V 00MCNRR II1315000240320 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     13600000 | OU      | $41797.56     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED MYR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MY        |            1 | NC      | $-2294.62     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED KRW / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | KR        |            1 | NC      | $-133662.68   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | XX        |            1 | NC      | $-16514.08    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       492000 | PA      | $91712.49     | 0.03%             | 2021-04-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD TWD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $123368.83    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa                   | Republic of South Africa Government Bond                                                                                                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    106538802 | PA      | $4911321.71   | 1.41%             | 2044-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                          | EURO-BUND FUTURE SEP25                                                                                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |           -5 | NC      | $6733.08      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                     | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | CN        |            1 | NC      | $-56995.40    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDAWFA4 IRS THB R F  2.69500 II2598940240409 CCPNDFOIS / Short: SMIDAWFA4 IRS THB P V 00MTHOR II2022370240409 CCPNDFOIS            | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     68480000 | OU      | $206986.87    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED MYR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |            1 | NC      | $-83434.87    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIESGWB7 IRS PLN R V 06MWIBOR II1995750250414 CCPVANILLA / Short: BMIESGWB7 IRS PLN P F  4.33500 II2443260250414 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     15734800 | OU      | $77050.15     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED EUR / SOLD HUF                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |            1 | NC      | $-23651.19    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIF5H246 IRS BRL R F 13.17600 II3871450250708 CCPNDFPREDISWA / Short: SMIF5H246 IRS BRL P V 00MBRCDI II6000710250708 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     18380000 | OU      | $-34146.22    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND                   | Thailand Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |     30700000 | PA      | $948412.11    | 0.27%             | 2035-06-17      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                     | Republic of Poland Government Bond                                                                                                         | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     12266000 | PA      | $3188843.50   | 0.91%             | 2034-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD TRY                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-72228.61    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | BMID18QM9                                                                                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |     11200000 | OU      | $69171.20     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                       | Paraguay Government International Bond                                                                                                     | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |   9630000000 | PA      | $1237526.97   | 0.35%             | 2031-02-09      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |      1409600 | PA      | $264440.96    | 0.08%             | 2024-10-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      3816103 | PA      | $249904.82    | 0.07%             | 2036-02-05      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                        | Egypt Treasury Bills                                                                                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |    196225000 | PA      | $3640346.65   | 1.04%             | 2025-12-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                         | Dominican Republic International Bond                                                                                                      | CUSIP: 25714RCZ5<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     61080000 | PA      | $1003270.85   | 0.29%             | 2025-08-08      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       307200 | PA      | $56478.72     | 0.02%             | 2023-05-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED TRY / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $162913.88    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| EUROPE ASIA INVST FIN BV                   | Europe Asia Investment Finance BV                                                                                                          | CUSIP: 000000000<br>LEI: 724500NLUHSB0SRCRO66 | Long             | DBT              | CORP              | NL        |  25786585000 | PA      | $2034579.97   | 0.58%             | 2026-07-21      | Fixed         | 18.70%                | Yes           |                  3 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIELK0W4 IRS BRL R F 14.78250 II2608560250305 CCPNDFPREDISWA / Short: SMIELK0W4 IRS BRL P V 00MBRCDI II0278900250305 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     16670000 | OU      | $22010.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED KZT / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | KZ        |            1 | NC      | $14670.59     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED MXN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | MX        |            1 | NC      | $-2150.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BONO TESORO CAPITALIZAB                    | Bono Del Tesoro Nacional Capitalizable en Pesos                                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AR        |     33453000 | PA      | $28919.07     | 0.01%             | 2026-02-13      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | DBT              | NUSS              | UY        |      4038000 | PA      | $97397.46     | 0.03%             | 2025-12-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                   | Suriname Government International Bond                                                                                                     | CUSIP: 86886PAC6<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |       127286 | PA      | $126967.79    | 0.04%             | 2033-07-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDS1J19 IRS BRL R F 11.65000 II7295340240723 CCPNDFPREDISWA / Short: SMIDS1J19 IRS BRL P V 00MBRCDI II7033010240723 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      6800000 | OU      | $-56778.01    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED RON / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | RO        |            1 | NC      | $1000.48      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 922646BL7<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       108000 | PA      | $27685.80     | 0.01%             | 2034-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED USD / SOLD GHS                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $-36329.94    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED UYU / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | UY        |            1 | NC      | $8274.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | IN        |            1 | NC      | $-67356.37    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                        | Malaysia Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |      3900000 | PA      | $1022955.67   | 0.29%             | 2042-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED HUF / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | HU        |            1 | NC      | $1152.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | BMID0PTA5                                                                                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |      9800000 | OU      | $60338.60     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: BMIF407K3 IRS COP R V 00MCPIBR II0503740250627 CCPNDFOIS / Short: BMIF407K3 IRS COP P F  8.41500 II4758370250627 CCPNDFOIS           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   4062000000 | OU      | $-1969.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |       989000 | PA      | $81807.62     | 0.02%             | 2027-08-17      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND                      | Egypt Government Bond                                                                                                                      | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    587636000 | PA      | $12082667.51  | 3.46%             | 2027-10-01      | Fixed         | 24.46%                | No            |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                    | Republic of Armenia Treasury Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |     99880000 | PA      | $261545.02    | 0.07%             | 2026-04-29      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CZ        |            1 | NC      | $8008.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EGYPT TREASURY BILL                        | Egypt Treasury Bills                                                                                                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | STIV             | NUSS              | EG        |     35225000 | PA      | $716356.39    | 0.21%             | 2025-08-19      | None          | 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      | $5211.97      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |            1 | NC      | $33802.94     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                   | Suriname Government International Bond                                                                                                     | CUSIP: 000000000<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |      1861510 | PA      | $1856856.23   | 0.53%             | 2033-07-15      | Fixed         | 7.95%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |       375000 | PA      | $54187.50     | 0.02%             | 2021-11-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  20182000000 | PA      | $1262621.56   | 0.36%             | 2038-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED MXN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |            1 | NC      | $163509.76    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-1368.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | STIV             | NUSS              | UY        |      8824000 | PA      | $215277.05    | 0.06%             | 2025-11-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF0ES40 IRS KRW R F  2.32450 II8092810250610 CCPVANILLA / Short: SMIF0ES40 IRS KRW P V 03MKSDA II6010840250610 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  19421000000 | OU      | $-15053.10    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | IN        |            1 | NC      | $-205218.29   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      3921523 | PA      | $280124.89    | 0.08%             | 2031-02-11      | Fixed         | 8.95%                 | 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      | $35963.73     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  15440600000 | PA      | $2906758.70   | 0.83%             | 2032-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | STIV             | NUSS              | UY        |     37000000 | PA      | $897246.55    | 0.26%             | 2025-12-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  47031000000 | PA      | $2900659.43   | 0.83%             | 2035-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED MXN / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |            1 | NC      | $20433.51     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Angola Government International Bonds      | Angola Government International Bonds                                                                                                      | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |       775000 | PA      | $616871.46    | 0.18%             | 2049-11-26      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF4J1P7 IRS CNY R F  1.46400 II2893220250702 CCPNDF / Short: SMIF4J1P7 IRS CNY P V 00MCNRR II8026840250702 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     20210000 | OU      | $-13929.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND                   | Thailand Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    158500000 | PA      | $4912582.76   | 1.41%             | 2042-06-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | ID        |            1 | NC      | $-5709.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED HUF / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | HU        |            1 | NC      | $131393.16    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |      1693500 | PA      | $338869.35    | 0.10%             | 2028-05-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIC2U4Y9 IRS PLN R F  5.26100 II8535980230607 CCPVANILLA / Short: SMIC2U4Y9 IRS PLN P V 06MWIBOR II0989910230607 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     40000000 | OU      | $316249.28    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria            | Nigeria OMO Bill                                                                                                                           | CUSIP: 000000000<br>LEI: 549300G1JG004Y3K8S97 | Long             | STIV             | NUSS              | NG        |   2604053000 | PA      | $1622519.84   | 0.46%             | 2025-10-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF UZBEKIS                   | National Bank of Uzbekistan                                                                                                                | CUSIP: 000000000<br>LEI: 253400TZJ7T1YULTGN68 | Long             | DBT              | NUSS              | UZ        |  14170000000 | PA      | $1149439.43   | 0.33%             | 2027-07-05      | Fixed         | 19.88%                | Yes           |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                      | Philippine Government Bond                                                                                                                 | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    380820000 | PA      | $6657896.58   | 1.91%             | 2030-07-27      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |       689900 | PA      | $110039.05    | 0.03%             | 2035-05-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |     75900000 | PA      | $914302.05    | 0.26%             | 2030-01-22      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| URU MONETARY REG BILL                      | Uruguay Monetary Regulation Bill                                                                                                           | CUSIP: 000000000<br>LEI: 549300DTMS39GZYBX161 | Long             | STIV             | NUSS              | UY        |     29910000 | PA      | $723133.34    | 0.21%             | 2025-12-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                         | Mongolia Government International Bond                                                                                                     | CUSIP: 60937LAJ4<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |       200000 | PA      | $200058.37    | 0.06%             | 2030-02-25      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    353300000 | PA      | $4408492.50   | 1.26%             | 2029-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                    | Bahamas Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |       719000 | PA      | $655009.00    | 0.19%             | 2033-05-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIE8NW57 IRS INR R F  6.00500 II7882860241204 CCPNDFOIS / Short: SMIE8NW57 IRS INR P V 00MMIBOR II0778150241204 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    334000000 | OU      | $51487.06     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    250000000 | PA      | $871359.10    | 0.25%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF4J5K4 IRS INR R F  5.69000 II2829210250702 CCPNDFOIS / Short: SMIF4J5K4 IRS INR P V 00MMIBOR II2442720250702 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    280000000 | OU      | $-3441.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                     | US 10YR NOTE (CBT)SEP25                                                                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          -34 | NC      | $-49242.18    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MONGOLIA INTL BOND                         | Mongolia Government International Bond                                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |       200000 | PA      | $200058.37    | 0.06%             | 2030-02-25      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMID6N7M2 IRS INR R F  6.25600 II8975710240312 CCPNDFOIS / Short: SMID6N7M2 IRS INR P V 00MMIBOR II0474720240312 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    970400000 | OU      | $246007.67    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED BRL / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |            1 | NC      | $721535.84    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEZ9392 IRS CNY R F  1.48250 II4988280250603 CCPNDF / Short: SMIEZ9392 IRS CNY P V 00MCNRR II8564590250603 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17350000 | OU      | $-9650.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF804Q9 IRS PLN R F  4.01800 II9826150250723 CCPVANILLA / Short: SMIF804Q9 IRS PLN P V 06MWIBOR II2103110250723 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      8100000 | OU      | $-15027.65    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria            | Nigeria OMO Bill                                                                                                                           | CUSIP: 000000000<br>LEI: 549300G1JG004Y3K8S97 | Long             | STIV             | NUSS              | NG        |    405384000 | PA      | $241578.85    | 0.07%             | 2025-12-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                    | Republic of Armenia Treasury Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    786700000 | PA      | $2048980.41   | 0.59%             | 2028-04-29      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIC3MUR2 IRS PLN R F  5.16100 II9099980230614 CCPVANILLA / Short: SMIC3MUR2 IRS PLN P V 06MWIBOR II0634960230614 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17000000 | OU      | $123004.87    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDL5Z19 IRS BRL R F 11.17500 II5661860240611 CCPNDFPREDISWA / Short: SMIDL5Z19 IRS BRL P V 00MBRCDI II6500670240611 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     47700000 | OU      | $-248421.97   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       271000 | PA      | $50948.00     | 0.01%             | 2028-03-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        58000 | PA      | $10860.50     | 0.00%             | 2025-02-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | ID        |            1 | NC      | $-59414.04    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED USD / SOLD MYR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $6739.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDJ6KP3 IRS BRL R F 10.64750 II9659610240528 CCPNDFPREDISWA / Short: SMIDJ6KP3 IRS BRL P V 00MBRCDI II9314970240528 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     51283000 | OU      | $-343435.05   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                    | Mexican Bonos                                                                                                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     84047700 | PA      | $3636921.61   | 1.04%             | 2053-07-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | BMIF7XQM3                                                                                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |     -3900000 | OU      | $-21918.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                    | Mexican Bonos                                                                                                                              | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    329718100 | PA      | $15982525.87  | 4.57%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED ZAR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | ZA        |            1 | NC      | $-341682.61   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDPXG31 IRS CZK R F  3.76250 II3853300240709 CCPVANILLA / Short: SMIDPXG31 IRS CZK P V 06MPRIBR II7227720240709 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    259000000 | OU      | $-27334.35    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                      | Philippine Government Bond                                                                                                                 | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    230370000 | PA      | $3739144.13   | 1.07%             | 2028-04-22      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED EUR / SOLD RON                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |            1 | NC      | $-27158.29    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                     | U.S. Treasury Bills                                                                                                                        | CUSIP: 912797QH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |      3000000 | PA      | $2998562.79   | 0.86%             | 2025-08-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | EG        |            1 | NC      | $62722.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED EUR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |            1 | NC      | $-1611.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SWAP JP MORGAN BOC                         | SWAP JP MORGAN BOC                                                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |      -280000 | NS      | $-280000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED CLP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CL        |            1 | NC      | $-139716.14   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | CN        |            1 | NC      | $-12970.46    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |      2710756 | PA      | $380861.22    | 0.11%             | 2024-05-16      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED EUR / SOLD CZK                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |            1 | NC      | $-9699.42     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD PHP                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $74595.13     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                   | Suriname Government International Bond                                                                                                     | CUSIP: 000000000<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |       956000 | PA      | $1113740.00   | 0.32%             | 2050-12-31      | Variable      | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      1187000 | PA      | $221016.43    | 0.06%             | 2022-10-04      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| HSBC Bank PLC                              | PURCHASED PLN / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | PL        |            1 | NC      | $-17719.64    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDWWQV2 IRS CNY R F  1.72500 II5220990240904 CCPNDF / Short: SMIDWWQV2 IRS CNY P V 00MCNRR II6033860240904 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      9000000 | OU      | $9082.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | BMIF84RW3                                                                                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |     -2800000 | OU      | $-16256.80    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fideicomiso PA Costera                     | Fideicomiso PA Costera                                                                                                                     | CUSIP: 31574FAB3<br>LEI: 5493002XQPJWQYQDVX07 | Long             | DBT              | CORP              | CO        |   4979414974 | PA      | $1064704.54   | 0.30%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |            1 | NC      | $7007.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEZJKF7 IRS KRW R F  2.32750 II7827590250604 CCPVANILLA / Short: SMIEZJKF7 IRS KRW P V 03MKSDA II5238280250604 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  36378000000 | OU      | $-35795.65    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: SMIEV0FN1 IRS BRL R F 13.51000 II9621590250502 CCPNDFPREDISWA / Short: SMIEV0FN1 IRS BRL P V 00MBRCDI II0762140250502 CCPNDFPREDISWA | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     13456000 | OU      | $-4288.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Eurex Deutschland                          | EURO-BOBL FUTURE SEP25                                                                                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          -21 | NC      | $18453.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                   | Uruguay Government International Bond                                                                                                      | CUSIP: 917288BP6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |      5139438 | PA      | $131124.42    | 0.04%             | 2045-05-16      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDXRZ91 IRS INR R F  5.91250 II7818740240911 CCPNDFOIS / Short: SMIDXRZ91 IRS INR P V 00MMIBOR II4342060240911 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    400000000 | OU      | $45170.97     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       469000 | PA      | $87527.13     | 0.03%             | 2020-04-14      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIF35AQ6 IRS ZAR R F  8.47000 II8462280250624 CCPVANILLA / Short: SMIF35AQ6 IRS ZAR P V 03MJIBAR II8187420250624 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     80300000 | OU      | $43320.68     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $-12382.92    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                   | Uzbek Industrial and Construction Bank ATB                                                                                                 | CUSIP: 000000000<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        | 141910000000 | PA      | $11596504.36  | 3.32%             | 2027-07-24      | Fixed         | 21.00%                | Yes           |                  2 | On Loan: No      |
| Zambia Government International Bonds      | Zambia Government International Bonds                                                                                                      | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |       701000 | PA      | $514133.52    | 0.15%             | 2053-12-31      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIED9UW5 IRS KRW R V 03MKSDA II5533050250113 CCPVANILLA / Short: BMIED9UW5 IRS KRW P F  2.80500 II0104130250113 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2042000000 | OU      | $-22517.66    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    273000000 | PA      | $948742.20    | 0.27%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                      | Venezuela Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |       710200 | PA      | $111483.65    | 0.03%             | 2019-10-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |        43000 | PA      | $8105.50      | 0.00%             | 2032-03-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED USD / SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $181363.46    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED CNH / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | CN        |            1 | NC      | $-29050.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.              | PURCHASED USD / SOLD INR                                                                                                                   | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $113053.37    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ASIAN DEVELOPMENT BANK                     | Asian Development Bank                                                                                                                     | CUSIP: 000000000<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | XX        |   7716500000 | PA      | $611001.09    | 0.17%             | 2028-06-26      | Fixed         | 14.50%                | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                    | Bahamas Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |       222000 | PA      | $235098.00    | 0.07%             | 2029-06-16      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs International                | PURCHASED USD / SOLD ZAR                                                                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $13273.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                       | Paraguay Government International Bond                                                                                                     | CUSIP: 699149AP5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |  37776000000 | PA      | $4854498.34   | 1.39%             | 2031-02-09      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                   | Petroleos de Venezuela SA                                                                                                                  | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |      8191722 | PA      | $1159128.66   | 0.33%             | 2026-11-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                         | Ukraine Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      6338000 | PA      | $4719116.35   | 1.35%             | 2041-08-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |            1 | NC      | $83423.24     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                    | European Bank for Reconstruction & Development                                                                                             | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | XX        |       564310 | PA      | $562127.00    | 0.16%             | 2027-03-01      | Fixed         | 17.35%                | Yes           |                  2 | On Loan: No      |
| ARMENIAN TREASURY BONDS                    | Republic of Armenia Treasury Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |   2602928000 | PA      | $6708512.48   | 1.92%             | 2033-10-29      | Fixed         | 9.60%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED USD / SOLD COP                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $-33756.43    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED EUR / SOLD PLN                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |            1 | NC      | $-726.17      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED COP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CO        |            1 | NC      | $-160511.39   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| GHANA COCOA BOND                           | Ghana Cocoa Bond                                                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GH        |      2527061 | PA      | $202641.41    | 0.06%             | 2028-08-28      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| ALBANIA GOVT BOND                          | Albanian Government Bond                                                                                                                   | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    230500000 | PA      | $2896193.66   | 0.83%             | 2029-01-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                         | Peru Government Bond                                                                                                                       | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |      2172000 | PA      | $621578.86    | 0.18%             | 2035-08-12      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CZ        |            1 | NC      | $21765.11     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                | PURCHASED USD / SOLD THB                                                                                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $1657.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICA0VP5 IRS CZK R F  4.15000 II9561050230802 CCPVANILLA / Short: SMICA0VP5 IRS CZK P V 06MPRIBO II5816920230802 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     37900000 | OU      | $20193.02     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                   | Development Bank of Kazakhstan JSC                                                                                                         | CUSIP: 48129VAC0<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |   1922000000 | PA      | $3386235.77   | 0.97%             | 2027-04-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                    | Hungary Government Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    139450000 | PA      | $239728.10    | 0.07%             | 2051-04-28      | Fixed         | 4.00%                 | 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      | $123187.34    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered Bank                    | PURCHASED USD / SOLD MXN                                                                                                                   | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $12819.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurex Deutschland                          | EURO-BUXL 30Y BND SEP25                                                                                                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |           -3 | NC      | $10955.51     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                   | Kazakhstan Government Bond - MEUKAM                                                                                                        | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    148388000 | PA      | $208657.30    | 0.06%             | 2028-04-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EGYPT GOVERNMENT BOND                      | Egypt Government Bond                                                                                                                      | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    505088000 | PA      | $9607475.18   | 2.75%             | 2030-05-20      | Fixed         | 19.98%                | No            |                  2 | On Loan: No      |
| GHANA GOVERNMENT BOND                      | Republic of Ghana Government Bonds                                                                                                         | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      2411168 | PA      | $185907.57    | 0.05%             | 2029-02-13      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIEDFPW7 IRS KRW R V 03MKSDA II2534720250114 CCPVANILLA / Short: BMIEDFPW7 IRS KRW P F  2.79250 II1318920250114 CCPVANILLA          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1021000000 | OU      | $-10447.06    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMICV2PV2 IRS CNY R F  2.35000 II0156780231213 CCPNDF / Short: SMICV2PV2 IRS CNY P V 00MCNRR II6733690231213 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     12000000 | OU      | $48604.76     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                             | PURCHASED USD / SOLD IDR                                                                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $9767.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED UYU / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | UY        |            1 | NC      | $7282.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                         | PURCHASED EGP / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | EG        |            1 | NC      | $12143.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                     | Montenegro Government International Bond                                                                                                   | CUSIP: 857305AA4<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |       200000 | PA      | $207857.63    | 0.06%             | 2031-03-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1486900000 | PA      | $283895.10    | 0.08%             | 2042-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SRI LANKA GOVT BOND                        | Sri Lanka Government Bonds                                                                                                                 | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     85000000 | PA      | $254737.48    | 0.07%             | 2033-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| KAZAKH GOV BOND - MEUKAM                   | Kazakhstan Government Bond - MEUKAM                                                                                                        | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    502000000 | PA      | $772852.21    | 0.22%             | 2029-07-28      | Fixed         | 10.55%                | No            |                  2 | On Loan: No      |
| Citibank NA                                | BMIF7XQP6                                                                                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |      6000000 | OU      | $29016.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LETRA TESORO CAPITALIZAB                   | Letra Del Tesoro Nacional Capitalizable En Pesos                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | NUSS              | AR        |    334533000 | PA      | $242686.61    | 0.07%             | 2026-05-29      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED IDR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | ID        |            1 | NC      | $5174.16      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                     | US 10YR ULTRA FUT SEP25                                                                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |           -4 | NC      | $-8531.25     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BONO TESORO CAPITALIZAB                    | Bono Del Tesoro Nacional Capitalizable en Pesos                                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AR        |    501800000 | PA      | $436087.54    | 0.12%             | 2026-01-30      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                | Long: BMIEZWQX3 IRS COP R V 00MCPIBR II3754550250605 CCPNDFOIS / Short: BMIEZWQX3 IRS COP P F  8.29000 II8283510250605 CCPNDFOIS           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  23833000000 | OU      | $7529.56      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEQQRF4 IRS THB R F  1.40630 II6436970250403 CCPNDFOIS / Short: SMIEQQRF4 IRS THB P V 00MTHOR II8581460250403 CCPNDFOIS            | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     25220000 | OU      | $3672.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                          | PURCHASED CZK / SOLD EUR                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |            1 | NC      | $10057.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                     | PURCHASED INR / SOLD USD                                                                                                                   | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | IN        |            1 | NC      | $-22459.11    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                       | Indonesia Treasury Bond                                                                                                                    | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 131564000000 | PA      | $8225648.33   | 2.35%             | 2033-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BONTE                                      | Argentina Treasury Bond BONTE                                                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AR        |    987000000 | PA      | $777941.43    | 0.22%             | 2030-05-30      | Fixed         | 29.50%                | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: BMIEUBRP0 IRS PLN R V 06MWIBOR II6015360250428 CCPVANILLA / Short: BMIEUBRP0 IRS PLN P F  4.30978 II3283260250428 CCPVANILLA         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      6584300 | OU      | $35781.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   8239000000 | PA      | $1618285.74   | 0.46%             | 2031-03-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIDZXVP4 IRS INR R F  5.93600 II0490560240926 CCPNDFOIS / Short: SMIDZXVP4 IRS INR P V 00MMIBOR II4554010240926 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    600000000 | OU      | $74040.78     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                       | Colombian TES                                                                                                                              | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  71997000000 | PA      | $15690058.73  | 4.49%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIEV7Z87 IRS CNY R F  1.39300 II1390310250506 CCPNDF / Short: SMIEV7Z87 IRS CNY P V 00MCNRR II5793480250506 CCPNDF                  | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     25942000 | OU      | $-29758.88    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                   | Long: SMIELEXV4 IRS INR R F  5.95300 II8621940250305 CCPNDFOIS / Short: SMIELEXV4 IRS INR P V 00MMIBOR II0565860250305 CCPNDFOIS           | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    390000000 | OU      | $50141.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                     | PURCHASED USD / SOLD PEN                                                                                                                   | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-4801.86     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa                   | Republic of South Africa Government Bond                                                                                                   | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    200655489 | PA      | $9781190.55   | 2.80%             | 2040-01-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ALBANIA TREASURY BILL                      | Albanian Treasury Bill                                                                                                                     | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | STIV             | NUSS              | AL        |      9300000 | PA      | $106967.69    | 0.03%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                     | Republic of Poland Government Bond                                                                                                         | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     56532299 | PA      | $13532319.13  | 3.87%             | 2036-08-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| HONDURAS GOVERNMENT                        | Honduras Government International Bond                                                                                                     | CUSIP: 000000000<br>LEI: 5493002DW1JNBNG17615 | Long             | DBT              | NUSS              | HN        |      1790000 | PA      | $1870997.50   | 0.54%             | 2034-11-27      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| Lebanese Republic                          | Lebanon Government International Bond                                                                                                      | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       637000 | PA      | $118890.48    | 0.03%             | 2020-03-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BONOS DE TESORERIA                         | Peru Government Bond                                                                                                                       | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |      1091000 | PA      | $331557.71    | 0.09%             | 2033-08-12      | Fixed         | 7.30%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-18

**Name of Applicant:** Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

**Signature:** Francis Smith

**Name of Signer:** Francis Smith

**Title:** Principal Financial Officer