# EDGAR Filing Document

**Accession Number:** 0001859808
**File Stem:** 0001398344-23-002668
**Filing Date:** 2023-2
**Character Count:** 78148
**Document Hash:** abc588a59d43a2bc75cf14f572bcb4f4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-002668.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001398344-23-002668

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20220331

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**PERIOD START**: 20220930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MassMutual Advantage Funds
- **CENTRAL INDEX KEY:** 0001859808
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23703
- **FILM NUMBER:** 23612069

**BUSINESS ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111
- **BUSINESS PHONE:** (860) 562-1000

**MAIL ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111

## Series and Classes Contracts Data

### MassMutual Emerging Markets Debt Blended Total Return Fund (Series ID: S000072762)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000229282 | Class I      | BXEIX           |
| C000229283 | Class L      | BXEAX           |
| C000229284 | Class Y      | BXEYX           |
| C000229285 | Class C      | BXECX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MassMutual Advantage Funds

- **b. Investment Company Act file number:** 811-23703

- **c. CIK number of Registrant:** 0001859808

- **d. LEI of Registrant:** 5493000RE63N3B1HWL58

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

  - **Street Address 1:** 1295 STATE STREET

  - **City:** SPRINGFIELD

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 01111

  - **Telephone number:** 4137441000

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

- **a. Name of Series:** MassMutual Emerging Markets Debt Blended Total Return Fund

- **b. EDGAR series identifier (if any):** S000072762

- **c. LEI of Series:** 5493004FKPYNW7148287

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

- **a. Date of fiscal year-end:** 2022-09-30

- **b. Date as of which information is reported:** 2022-03-31

**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:** $283746978.39

**Total Liabilities:** $198322918.39

**Net Assets:** $85424060.00

**Delayed Delivery Securities:** $2627978.76

**Cash Not Reported:** $8811195.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 825.99 | **10-Year:** 1543.25 | **30-Year:** 2682.69

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

- **3-Month:** 11.44 | **1-Year:** 1324.01 | **5-Year:** 6499.88 | **10-Year:** 9925.72 | **30-Year:** 6540.3

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229282 | -0.58%               | -12.70%              | -2.22%               |
| Class ID C000229283 | -0.62%               | -12.76%              | -2.26%               |
| Class ID C000229284 | -0.58%               | -12.73%              | -2.24%               |
| Class ID C000229285 | -0.66%               | -12.82%              | -2.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4804573.06             | $344126.71                                 |
| Month 2  | $-786095.27              | $-11500873.21                              |
| Month 3  | $-736540.50              | $-3168334.42                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ABSA GROUP LTD                 | JR SUBORDINA REGS 12/99 VAR   | CUSIP: ACI1XXZ06<br>LEI: 2138006IPPRD4N6XLT30 | Long             | DBT              | CORP              | ZA        |     925000 | PA      | $893365.00    | 1.05%             | 2099-12-31      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| ACU PETROLEO LUXEMBURG         | 01/32 7.5                     | CUSIP: 00110RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     541000 | PA      | $499077.91    | 0.58%             | 2032-01-13      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| ALFA DESARROLLO SPA            | SR SECURED 144A 09/51 4.55    | CUSIP: 01538TAA3<br>LEI: 2549006BJAN34R520038 | Long             | DBT              | CORP              | CL        |     910539 | PA      | $789892.19    | 0.92%             | 2051-09-27      | Fixed         | 4.55%                 | Yes           | 2                  | On Loan: No      |
| ATENTO LUXCO 1 SA              | SR SECURED 144A 02/26 8       | CUSIP: 04684LAC2<br>LEI: 549300MLFF3HYCZQTC48 | Long             | DBT              | CORP              | LU        |     633000 | PA      | $639486.38    | 0.75%             | 2026-02-10      | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| ATP TOW / AND TELECOM          | SR SECURED 144A 04/26 4.05    | CUSIP: 00216DAA9<br>LEI: 254900CIKL1FQZ45N873 | Long             | DBT              | CORP              | NA        |     228000 | PA      | $216600.00    | 0.25%             | 2026-04-27      | Fixed         | 4.05%                 | Yes           | 2                  | On Loan: No      |
| AXIAN TELECOM                  | COMPANY GUAR 144A 02/27 7.375 | CUSIP: 05466AAA1<br>LEI: 984500C6FIA50FZSE337 | Long             | DBT              | CORP              | MU        |     408000 | PA      | $399840.00    | 0.47%             | 2027-02-16      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| B2W DIGITAL LUX SARL           | COMPANY GUAR 144A 12/30 4.375 | CUSIP: 05609AAA9<br>LEI: 222100KMO43GQ28M6N31 | Long             | DBT              | CORP              | LU        |     706000 | PA      | $607837.76    | 0.71%             | 2030-12-20      | Fixed         | 4.38%                 | Yes           | 2                  | On Loan: No      |
| BANCO MERCANTIL DE NORTE       | JR SUBORDINA 144A 12/99 VAR   | CUSIP: 05973KAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     984000 | PA      | $907740.00    | 1.06%             | 2099-12-31      | Fixed         | 6.62%                 | Yes           | 2                  | On Loan: No      |
| BM112790  IRS BRL R F  6.38000 | 6.38%   02 Jan 2023           | CUSIP: 99S1DVNR4<br>LEI: N/A                  | N/A              | DIR              |  | US        |   15433847 | PA      | $16588.37     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| BM113265  CYS USD R F  8.12000 | 8.12%   17 Jun 2025           | CUSIP: 99S1DRVI4<br>LEI: N/A                  | N/A              | DIR              |  | US        |     819150 | PA      | $-4828.14     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| BM115532  CYS USD R F  8.46000 | 8.46%   17 Oct 2031           | CUSIP: 99S1DRVL7<br>LEI: N/A                  | N/A              | DIR              |  | US        |     330000 | PA      | $16642.93     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| BM117157  CYS USD R F  4.32000 | 4.32%   15 May 2027           | CUSIP: 99S1HQ5L4<br>LEI: N/A                  | N/A              | DIR              |  | US        |     367540 | PA      | $-22458.13    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| BM117253  CYS USD R F  4.79300 | 4.793%   03 Jun 2026          | CUSIP: 99S1HQ5I1<br>LEI: N/A                  | N/A              | DIR              |  | US        |     604450 | PA      | $-26504.56    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| BM118163  CYS USD R F 10.87500 | 10.875%   26 Jun 2024         | CUSIP: 99S1KF5U4<br>LEI: N/A                  | N/A              | DIR              |  | US        |     602000 | PA      | $41950.33     | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| BM118194  CYS USD R F  6.70500 | 6.705%   19 Feb 2025          | CUSIP: 99S1KI4X3<br>LEI: N/A                  | N/A              | DIR              |  | US        |    1214500 | PA      | $88521.92     | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| BM120066  CYS USD R F 10.21900 | 10.219%   16 Jun 2026         | CUSIP: 99S1MHOL7<br>LEI: N/A                  | N/A              | DIR              |  | US        |    1218000 | PA      | $110999.60    | 0.13%             |  |  |  | No            | 2                  | On Loan: No      |
| BM121238 BARINGS               | FXVAN CALL USD ZAR 18         | CUSIP: OP001BM91<br>LEI: N/A                  | N/A              | DFE              |  | IE        |   -8170000 | NC      | $-2884.01     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121243 BARINGS               | FXVAN CALL EUR PLN 4.85       | CUSIP: OP001BQ55<br>LEI: N/A                  | N/A              | DFE              |  | US        |   -2906000 | NC      | $-29508.29    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121244 BARINGS               | FXVAN CALL EUR PLN 4.85       | CUSIP: OP001BQD8<br>LEI: N/A                  | N/A              | DFE              |  | US        |   -5256000 | NC      | $-53370.82    | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121254 BARINGS               | FXVAN CALL EUR PLN 4.85       | CUSIP: OP001BRJ4<br>LEI: N/A                  | N/A              | DFE              |  | IL        |   -6267000 | NC      | $-64482.60    | -0.08%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121580 BARINGS               | FXVAN CALL USD RUB 84.9358    | CUSIP: OP001DY37<br>LEI: N/A                  | N/A              | DFE              |  | US        |   -3300000 | NC      | $-501606.60   | -0.59%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121581 BARINGS               | FXVAN CALL USD RUB 83.0975    | CUSIP: OP001DY52<br>LEI: N/A                  | N/A              | DFE              |  | US        |   -3300000 | NC      | $-165448.80   | -0.19%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121680 BARINGS               | FXVAN CALL USD RUB 81.837     | CUSIP: OP001GSK9<br>LEI: N/A                  | N/A              | DFE              |  | US        |   -3632000 | NC      | $-371197.66   | -0.43%            |  |  |  | No            | 2                  | On Loan: No      |
| BM121868  IRS ILS R V 03MTELBO | 1%   25 Feb 2025              | CUSIP: 99S1QLHR9<br>LEI: N/A                  | N/A              | DIR              |  | US        |   17000000 | PA      | $48791.30     | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| BM122015  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R25C6<br>LEI: N/A                  | N/A              | DCR              |  | GB        |    2900000 | PA      | $33667.52     | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| BM122019  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R2601<br>LEI: N/A                  | N/A              | DCR              |  | US        |    1530000 | PA      | $-73772.13    | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| BM122023  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R2767<br>LEI: N/A                  | N/A              | DCR              |  | GB        |    1110000 | PA      | $-76306.33    | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| BM122026  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R27R1<br>LEI: N/A                  | N/A              | DCR              |  | US        |    1600000 | PA      | $24670.93     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| BM122103  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R36C3<br>LEI: N/A                  | N/A              | DCR              |  | US        |    3000000 | PA      | $14373.81     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| BM122106  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R37R9<br>LEI: N/A                  | N/A              | DCR              |  | GB        |    2445000 | PA      | $1866.24      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BM122109  CDS USD R F  1.00000 | 1%   20 Jun 2027              | CUSIP: 99S1R38I8<br>LEI: N/A                  | N/A              | DCR              |  | GB        |    3080000 | PA      | $25748.98     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| BONOS DE TESORERIA             | BONDS 02/42 6.85              | CUSIP: 989JEBII7<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    5240000 | PA      | $1383954.61   | 1.62%             | 2042-02-12      | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| BORETS FINANCE DAC             | COMPANY GUAR 144A 09/26 6     | CUSIP: 09973BAB5<br>LEI: 635400LFT9PKEEFTKC04 | Long             | DBT              | CORP              | IE        |     531000 | PA      | $26550.00     | 0.03%             | 2026-09-17      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| BRASKEM IDESA SAPI             | SR SECURED 144A 11/29 7.45    | CUSIP: 10554NAA6<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |     300000 | PA      | $304800.00    | 0.36%             | 2029-11-15      | Fixed         | 7.45%                 | Yes           | 2                  | On Loan: No      |
| CIFI HOLDINGS GROUP            | COMPANY GUAR REGS 08/26 4.45  | CUSIP: ACI1XQPZ5<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | CORP              | KY        |     330000 | PA      | $265650.00    | 0.31%             | 2026-08-17      | Fixed         | 4.45%                 | Yes           | 2                  | On Loan: No      |
| CNTL AMR BOTTLING CORP         | COMPANY GUAR 144A 04/29 5.25  | CUSIP: 15239XAA6<br>LEI: 549300DT8SH0CF6BTT37 | Long             | DBT              | CORP              | VG        |     945000 | PA      | $940275.00    | 1.10%             | 2029-04-27      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| COSTA RICA GOVERNMENT          | SR UNSECURED 144A 02/31 6.125 | CUSIP: 221597CP0<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     550000 | PA      | $555505.50    | 0.65%             | 2031-02-19      | Fixed         | 6.12%                 | Yes           | 2                  | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3714678 | PA      | $14678.34     | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     560040 | PA      | $8040.46      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1237266 | PA      | $4265.85      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1726179 | PA      | $-40179.01    | -0.05%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     918178 | PA      | $84750.85     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2075213 | PA      | $201858.43    | 0.24%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    7176273 | PA      | $-328598.13   | -0.38%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    4271169 | PA      | $-366336.19   | -0.43%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    6924261 | PA      | $163332.98    | 0.19%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    6976190 | PA      | $-417365.18   | -0.49%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1542991 | PA      | $42836.93     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    6714350 | PA      | $48458.46     | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    9324832 | PA      | $-36547.05    | -0.04%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2325807 | PA      | $-112806.74   | -0.13%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    5387686 | PA      | $-137685.79   | -0.16%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    6472289 | PA      | $-299127.36   | -0.35%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    4596787 | PA      | $-70971.95    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3511009 | PA      | $-182008.79   | -0.21%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |      40454 | PA      | $2573.26      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     932376 | PA      | $32937.69     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     281578 | PA      | $-15231.82    | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3815762 | PA      | $105601.94    | 0.12%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2612940 | PA      | $-666.09      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2500940 | PA      | $-59625.35    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     791881 | PA      | $8119.49      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1055669 | PA      | $-282328.32   | -0.33%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1055669 | PA      | $-285970.63   | -0.33%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     150069 | PA      | $-752.33      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |   16398545 | PA      | $-998544.95   | -1.17%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1859278 | PA      | $-7757.02     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     616926 | PA      | $-12762.65    | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2058706 | PA      | $-9705.98     | -0.01%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3188929 | PA      | $-240928.60   | -0.28%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2155627 | PA      | $40372.79     | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     976204 | PA      | $-17204.40    | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3326314 | PA      | $-90349.31    | -0.11%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     934718 | PA      | $281.77       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     448515 | PA      | $-52927.14    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1460734 | PA      | $188346.09    | 0.22%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     452855 | PA      | $-48587.25    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     740226 | PA      | $-19924.45    | -0.02%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1021598 | PA      | $-116960.32   | -0.14%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1693866 | PA      | $133.60       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     197755 | PA      | $11389.99     | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1012219 | PA      | $-126339.24   | -0.15%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |      98990 | PA      | $5807.10      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    7888625 | PA      | $706024.48    | 0.83%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1555242 | PA      | $59430.21     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1004668 | PA      | $179170.00    | 0.21%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2111338 | PA      | $-278658.27   | -0.33%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    5652121 | PA      | $423422.37    | 0.50%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1739936 | PA      | $-57696.12    | -0.07%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1462711 | PA      | $66711.06     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3332034 | PA      | $-47776.89    | -0.06%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    4314522 | PA      | $-72478.31    | -0.08%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     408437 | PA      | $-611.06      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    4212414 | PA      | $20025.44     | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    3673113 | PA      | $87331.61     | 0.10%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     894151 | PA      | $19570.16     | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1468947 | PA      | $168359.20    | 0.20%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    2880687 | PA      | $63049.19     | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     798681 | PA      | $-504.75      | -0.00%            |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    4596787 | PA      | $67238.66     | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     198966 | PA      | $12600.74     | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    4352773 | PA      | $22772.57     | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     309294 | PA      | $19391.88     | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1080723 | PA      | $35723.14     | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     198876 | PA      | $12511.05     | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    8219500 | PA      | $307387.54    | 0.36%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    8219500 | PA      | $154781.04    | 0.18%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |     320046 | PA      | $5045.90      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Currency Forward Contract      | FX Forward                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |    1140218 | PA      | $5217.81      | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| CZECH REPUBLIC                 | BONDS 04/40 1.5               | CUSIP: ACI1LYXL3<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |   28730000 | PA      | $901644.79    | 1.06%             | 2040-04-24      | Fixed         | 1.50%                 | No            | 2                  | On Loan: No      |
| DOMINICAN REPUBLIC             | SR UNSECURED 144A 02/29 5.5   | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     760000 | PA      | $753167.60    | 0.88%             | 2029-02-22      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| ELECTRICIDAD FIRME DE ME       | SR SECURED 144A 11/26 4.9     | CUSIP: 28504MAA1<br>LEI: 549300B9KK10OSYRIY06 | Long             | DBT              | CORP              | MX        |     263000 | PA      | $244921.38    | 0.29%             | 2026-11-20      | Fixed         | 4.90%                 | Yes           | 2                  | On Loan: No      |
| EUROPEAN BK RECON + DEV        | UNSECURED 10/22 VAR           | CUSIP: ACI1GCCC0<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | NA        |    1200000 | PA      | $388310.60    | 0.45%             | 2022-10-29      | Fixed         | 9.97%                 | No            | 2                  | On Loan: No      |
| EUROTORG (BONITRON DAC)        | SR UNSECURED 144A 10/25 9     | CUSIP: 09821LAB7<br>LEI: 549300PXIOV742CFHL20 | Long             | DBT              | CORP              | IE        |     723000 | PA      | $144600.00    | 0.17%             | 2025-10-22      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| FED REPUBLIC OF BRAZIL         | SR UNSECURED 01/50 4.75       | CUSIP: 105756CB4<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     200000 | PA      | $167840.00    | 0.20%             | 2050-01-14      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| FED REPUBLIC OF BRAZIL         | SR UNSECURED 02/47 5.625      | CUSIP: 105756BY5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     900000 | PA      | $852228.00    | 1.00%             | 2047-02-21      | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| FEL ENERGY VI SARL             | SR SECURED 144A 12/40 5.75    | CUSIP: 30260LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     675369 | PA      | $606150.37    | 0.71%             | 2040-12-01      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| FUTURE RETAIL LTD              | SR SECURED REGS 01/25 5.6     | CUSIP: Y267BJGT5<br>LEI: 335800XO19WYIUZC9H61 | Long             | DBT              | CORP              | IN        |     794000 | PA      | $436700.00    | 0.51%             | 2025-01-22      | Fixed         | 5.60%                 | Yes           | 2                  | On Loan: No      |
| GRUPO IDESA SA DE CV           | SR SECURED 144A 05/26 10.125  | CUSIP: 40053LAB1<br>LEI: 549300SPX2Q01JRIC729 | Long             | DBT              | CORP              | MX        |    1107790 | PA      | $708985.60    | 0.83%             | 2026-05-22      | Fixed         | 10.12%                | Yes           | 2                  | On Loan: No      |
| GUARA NORTE SARL               | SR SECURED 144A 06/34 5.198   | CUSIP: 400666AA1<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |    1251240 | PA      | $1148075.41   | 1.34%             | 2034-06-15      | Fixed         | 5.20%                 | Yes           | 2                  | On Loan: No      |
| HONDURAS GOVERNMENT            | SR UNSECURED 144A 06/30 5.625 | CUSIP: 438180AJ0<br>LEI: 5493002DW1JNBNG17615 | Long             | DBT              | NUSS              | HN        |     540000 | PA      | $488700.00    | 0.57%             | 2030-06-24      | Fixed         | 5.62%                 | Yes           | 2                  | On Loan: No      |
| IHS HOLDING LTD                | COMPANY GUAR 144A 11/28 6.25  | CUSIP: 44963HAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     892000 | PA      | $836696.00    | 0.98%             | 2028-11-29      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| INDIA CLEANTECH ENERGY         | SECURED 144A 08/26 4.7        | CUSIP: 45410BAA2<br>LEI: 254900DGTS4HHR3Q6F66 | Long             | DBT              | CORP              | MU        |    1054300 | PA      | $987985.00    | 1.16%             | 2026-08-10      | Fixed         | 4.70%                 | Yes           | 2                  | On Loan: No      |
| INDIA TOLL ROADS               | SR SECURED 144A 08/24 5.5     | CUSIP: ACI1VSHY5<br>LEI: 2549008B7KEAHCL64D19 | Long             | DBT              | CORP              | MU        |     999000 | PA      | $999000.00    | 1.17%             | 2024-08-19      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| INFRAESTRUCTURA ENERGETI       | SR UNSECURED 144A 01/51 4.75  | CUSIP: 456829AC4<br>LEI: 715K4H1JYF3O6JOK1411 | Long             | DBT              | CORP              | MX        |     312000 | PA      | $270894.00    | 0.32%             | 2051-01-15      | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| INRETAIL CONSUMER              | SR SECURED 144A 03/28 3.25    | CUSIP: 45790TAB1<br>LEI: 254900BI1YXHZ31NSP51 | Long             | DBT              | CORP              | PE        |     937000 | PA      | $878437.50    | 1.03%             | 2028-03-22      | Fixed         | 3.25%                 | Yes           | 2                  | On Loan: No      |
| INVEST ENERGY RES LTD          | SR SECURED 144A 04/29 6.25    | CUSIP: 46143NAB6<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | CORP              | BM        |     492000 | PA      | $496924.92    | 0.58%             | 2029-04-26      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| IVORY COAST                    | SR UNSECURED 144A 03/48 6.625 | CUSIP: ACI11JRN1<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     300000 | PA      | $289090.94    | 0.34%             | 2048-03-22      | Fixed         | 6.62%                 | Yes           | 2                  | On Loan: No      |
| IVORY COAST                    | SR UNSECURED 144A 12/32 VAR   | CUSIP: 221625AK2<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    1251480 | PA      | $1224963.90   | 1.43%             | 2032-12-31      | Variable      | 5.75%                 | Yes           | 2                  | On Loan: No      |
| IVORY COAST                    | SR UNSECURED 144A 10/31 5.875 | CUSIP: ACI1G4C61<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     300000 | PA      | $306957.76    | 0.36%             | 2031-10-17      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| JSW STEEL LTD                  | SR UNSECURED 144A 04/32 5.05  | CUSIP: 46635UAD1<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    1125000 | PA      | $1048185.71   | 1.23%             | 2032-04-05      | Fixed         | 5.05%                 | Yes           | 2                  | On Loan: No      |
| KAISA GROUP HOLDINGS LTD       | SR SECURED REGS 04/25 11.25   | CUSIP: ACI1NWXD3<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |    1000000 | PA      | $177750.00    | 0.21%             | 2025-04-16      | Fixed         | 11.25%                | Yes           | 2                  | On Loan: No      |
| KAISA GROUP HOLDINGS LTD       | SR UNSECURED REGS 12/99 VAR   | CUSIP: ACI1RS1R2<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |    1000000 | PA      | $105000.00    | 0.12%             | 2099-12-31      | Fixed         | 10.88%                | Yes           | 2                  | On Loan: No      |
| KAISA GROUP HOLDINGS LTD       | SR SECURED REGS 10/22 11.95   | CUSIP: G52132BW9<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |    1250000 | PA      | $246875.00    | 0.29%             | 2022-10-22      | Fixed         | 11.95%                | Yes           | 2                  | On Loan: No      |
| KERNEL HOLDING SA              | SR UNSECURED 144A 10/24 6.5   | CUSIP: 49229QAB0<br>LEI: 5493003GR6L4DZOS2U12 | Long             | DBT              | CORP              | LU        |     500000 | PA      | $253310.00    | 0.30%             | 2024-10-17      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| KINGDOM OF JORDAN              | SR UNSECURED 144A 07/30 5.85  | CUSIP: 418097AL5<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |     810000 | PA      | $753753.60    | 0.88%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           | 2                  | On Loan: No      |
| MALAYSIA GOVERNMENT            | BONDS 09/25 3.955             | CUSIP: ACI0C1S66<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    5222000 | PA      | $1270640.91   | 1.49%             | 2025-09-15      | Fixed         | 3.96%                 | No            | 2                  | On Loan: No      |
| MALAYSIA GOVERNMENT            | BONDS 09/43 4.935             | CUSIP: ACI06WQ26<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    5400000 | PA      | $1349787.38   | 1.58%             | 2043-09-30      | Fixed         | 4.93%                 | No            | 2                  | On Loan: No      |
| MALAYSIA GOVERNMENT            | BONDS 06/50 4.065             | CUSIP: ACI1N27G1<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    6530000 | PA      | $1431591.56   | 1.68%             | 2050-06-15      | Fixed         | 4.07%                 | No            | 2                  | On Loan: No      |
| MEITUAN                        | SR UNSECURED 144A 10/30 3.05  | CUSIP: 58533EAC7<br>LEI: 21380033K525E5JLIA77 | Long             | DBT              | CORP              | KY        |     529000 | PA      | $424827.39    | 0.50%             | 2030-10-28      | Fixed         | 3.05%                 | Yes           | 2                  | On Loan: No      |
| METINVEST BV                   | COMPANY GUAR 144A 06/25 5.625 | CUSIP: ACI1FYPF2<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |     750000 | PA      | $359918.36    | 0.42%             | 2025-06-17      | Fixed         | 5.62%                 | Yes           | 2                  | On Loan: No      |
| MEX BONOS DESARR FIX RT        | SR UNSECURED 05/29 8.5        | CUSIP: P9767G6N6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   22070000 | PA      | $1116726.47   | 1.31%             | 2029-05-31      | Fixed         | 8.50%                 | No            | 2                  | On Loan: No      |
| MEX BONOS DESARR FIX RT        | BONDS 03/26 5.75              | CUSIP: ACI0HGZW3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   49330000 | PA      | $2255638.43   | 2.64%             | 2026-03-05      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| MHP LUX SA                     | COMPANY GUAR 144A 09/29 6.25  | CUSIP: 59318YAB4<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |     270000 | PA      | $118800.00    | 0.14%             | 2029-09-19      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| NEW METRO GLOBAL LTD           | COMPANY GUAR REGS 05/26 4.5   | CUSIP: ACI1VFS96<br>LEI: 549300HJRNTCANEH0D47 | Long             | DBT              | CORP              | VG        |     200000 | PA      | $120000.00    | 0.14%             | 2026-05-02      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| NEW METRO GLOBAL LTD           | COMPANY GUAR REGS 12/24 4.8   | CUSIP: ACI1TDTC6<br>LEI: 549300HJRNTCANEH0D47 | Long             | DBT              | CORP              | VG        |     200000 | PA      | $134000.00    | 0.16%             | 2024-12-15      | Fixed         | 4.80%                 | Yes           | 2                  | On Loan: No      |
| NORTH MACEDONIA                | SR UNSECURED 144A 03/28 1.625 | CUSIP: ACI1W86S3<br>LEI: 635400RD1N6RVNCE4958 | Long             | DBT              | NUSS              | MK        |     350000 | PA      | $336500.71    | 0.39%             | 2028-03-10      | Fixed         | 1.62%                 | Yes           | 2                  | On Loan: No      |
| NORTH MACEDONIA                | SR UNSECURED 144A 06/26 3.675 | CUSIP: ACI1MQD56<br>LEI: 635400RD1N6RVNCE4958 | Long             | DBT              | NUSS              | MK        |     550000 | PA      | $606964.95    | 0.71%             | 2026-06-03      | Fixed         | 3.67%                 | Yes           | 2                  | On Loan: No      |
| NOTA DO TESOURO NACIONAL       | NOTES 08/50 6                 | CUSIP: B4VFQNII7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    1570000 | PA      | $1353061.91   | 1.58%             | 2050-08-15      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| OMAN ARAB BANK SAOC            | JR SUBORDINA REGS 12/99 VAR   | CUSIP: ACI1Y2MY3<br>LEI: 254900P5EQ20DLW75N30 | Long             | DBT              | CORP              | OM        |     443000 | PA      | $450752.50    | 0.53%             | 2099-12-31      | Fixed         | 7.62%                 | Yes           | 2                  | On Loan: No      |
| OMAN GOV INTERNTL BOND         | SR UNSECURED 144A 01/48 6.75  | CUSIP: 682051AJ6<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |     200000 | PA      | $199524.00    | 0.23%             | 2048-01-17      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| OMAN GOV INTERNTL BOND         | SR UNSECURED 144A 10/32 7.375 | CUSIP: 68205LAE3<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |     470000 | PA      | $537562.50    | 0.63%             | 2032-10-28      | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| OMAN GOV INTERNTL BOND         | SR UNSECURED 144A 01/31 6.25  | CUSIP: 68205LAS2<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |     550000 | PA      | $582087.00    | 0.68%             | 2031-01-25      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| ORIFLAME INVESTMENT HLDG       | SR SECURED 144A 05/26 5.125   | CUSIP: 68621CAA7<br>LEI: 549300LGP4VBCHWQTD80 | Long             | DBT              | CORP              | JE        |     521000 | PA      | $416800.00    | 0.49%             | 2026-05-04      | Fixed         | 5.12%                 | Yes           | 2                  | On Loan: No      |
| PETROLEOS MEXICANOS            | COMPANY GUAR 01/31 5.95       | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    1000000 | PA      | $923010.00    | 1.08%             | 2031-01-28      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| PETROLEOS MEXICANOS            | COMPANY GUAR 01/60 6.95       | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    1304000 | PA      | $1066932.80   | 1.25%             | 2060-01-28      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| PETROLEOS MEXICANOS            | COMPANY GUAR 06/38 6.625      | CUSIP: 706451BR1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |     266000 | PA      | $227031.00    | 0.27%             | 2038-06-15      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| PIRAEUS FINANCIAL HLDGS        | SUBORDINATED REGS 06/29 VAR   | CUSIP: ACI1CRYZ6<br>LEI: M6AD1Y1KW32H8THQ6F76 | Long             | DBT              | CORP              | GR        |     500000 | PA      | $567693.08    | 0.66%             | 2029-06-26      | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| PIRAEUS FINANCIAL HLDGS        | JR SUBORDINA REGS 12/99 VAR   | CUSIP: ACI1YJHK2<br>LEI: M6AD1Y1KW32H8THQ6F76 | Long             | DBT              | CORP              | GR        |    1000000 | PA      | $1011941.97   | 1.18%             | 2099-12-31      | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| PIRAEUS FINANCIAL HLDGS        | SUBORDINATED REGS 02/30 VAR   | CUSIP: ACI1K2PC3<br>LEI: M6AD1Y1KW32H8THQ6F76 | Long             | DBT              | CORP              | GR        |    1000000 | PA      | $1017063.90   | 1.19%             | 2030-02-19      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| POWERLONG REAL ESTATE          | COMPANY GUAR REGS 04/25 5.95  | CUSIP: ACI1SCR07<br>LEI: 549300R3K12EPXCGDP22 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $72050.00     | 0.08%             | 2025-04-30      | Fixed         | 5.95%                 | Yes           | 2                  | On Loan: No      |
| POWERLONG REAL ESTATE          | SR SECURED REGS 08/24 6.25    | CUSIP: ACI1PXNL2<br>LEI: 549300R3K12EPXCGDP22 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $76100.00     | 0.09%             | 2024-08-10      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| POWERLONG REAL ESTATE          | COMPANY GUAR REGS 05/26 4.9   | CUSIP: ACI1XNPH2<br>LEI: 549300R3K12EPXCGDP22 | Long             | DBT              | CORP              | KY        |     530000 | PA      | $180200.00    | 0.21%             | 2026-05-13      | Fixed         | 4.90%                 | Yes           | 2                  | On Loan: No      |
| PRUMO PARTICIPACOES E IN       | SR SECURED 144A 12/31 7.5     | CUSIP: 74444JAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | BR        |     258355 | PA      | $258680.82    | 0.30%             | 2031-12-31      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF ANGOLA             | SR UNSECURED 144A 05/28 8.25  | CUSIP: 035198AB6<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     850000 | PA      | $864875.00    | 1.01%             | 2028-05-09      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF ANGOLA             | SR UNSECURED 144A 05/48 9.375 | CUSIP: 035198AC4<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     900000 | PA      | $883890.00    | 1.03%             | 2048-05-08      | Fixed         | 9.38%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF ARMENIA            | SR UNSECURED 144A 02/31 3.6   | CUSIP: 042207AD2<br>LEI: 2549008QLWTFS81EUF38 | Long             | DBT              | NUSS              | AM        |     740000 | PA      | $582039.60    | 0.68%             | 2031-02-02      | Fixed         | 3.60%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF BELARUS            | SR UNSECURED 144A 06/27 7.625 | CUSIP: 07737JAA1<br>LEI: 635400CVCOWYLHF4ZB08 | Long             | DBT              | NUSS              | BY        |    1000000 | PA      | $125000.00    | 0.15%             | 2027-06-29      | Fixed         | 7.62%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF BELARUS            | SR UNSECURED 144A 02/31 6.378 | CUSIP: 07737JAD5<br>LEI: 635400CVCOWYLHF4ZB08 | Long             | DBT              | NUSS              | BY        |    2030000 | PA      | $263900.00    | 0.31%             | 2031-02-24      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF GUATEMALA          | SR UNSECURED 144A 10/41 4.65  | CUSIP: 401494AU3<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     910000 | PA      | $846300.00    | 0.99%             | 2041-10-07      | Fixed         | 4.65%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF SERBIA             | SR UNSECURED 144A 09/36 2.05  | CUSIP: ACI20JFB9<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    2549000 | PA      | $2166757.86   | 2.54%             | 2036-09-23      | Fixed         | 2.05%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF SERBIA             | SR UNSECURED 144A 05/27 3.125 | CUSIP: ACI1MBV00<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     340000 | PA      | $365875.51    | 0.43%             | 2027-05-15      | Fixed         | 3.12%                 | Yes           | 2                  | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA       | SR UNSECURED 12/26 10.5       | CUSIP: S69124FF7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   43690000 | PA      | $3258399.45   | 3.81%             | 2026-12-21      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA       | SR UNSECURED 01/44 8.75       | CUSIP: BPXR8CII6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   50850000 | PA      | $2930421.56   | 3.43%             | 2044-01-31      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| REPUBLIC OF UZBEKISTAN         | SR UNSECURED 144A 11/30 3.7   | CUSIP: 91822Q2C0<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     250000 | PA      | $215625.00    | 0.25%             | 2030-11-25      | Fixed         | 3.70%                 | Yes           | 2                  | On Loan: No      |
| REPUBLICA ORIENT URUGUAY       | SR UNSECURED 07/40 3.875      | CUSIP: 917288BL5<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   46094535 | PA      | $1291517.26   | 1.51%             | 2040-07-02      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| ROMANIA                        | SR UNSECURED 144A 04/49 4.625 | CUSIP: ACI19YLB2<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    1030000 | PA      | $1117104.28   | 1.31%             | 2049-04-03      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| RUMO LUXEMBOURG SARL           | COMPANY GUAR 144A 01/32 4.2   | CUSIP: 781467AE5<br>LEI: 222100HOIQFT7YOSPB46 | Long             | DBT              | CORP              | LU        |     650000 | PA      | $560631.50    | 0.66%             | 2032-01-18      | Fixed         | 4.20%                 | Yes           | 2                  | On Loan: No      |
| RUTAS 2 AND 7 FINANCE          | SR SECURED 144A 09/36 0.00000 | CUSIP: 78319MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     821667 | PA      | $595790.49    | 0.70%             | 2036-09-30      | None          | 0.00%                 | Yes           | 2                  | On Loan: No      |
| SILKNET JSC                    | SR UNSECURED 144A 01/27 8.375 | CUSIP: 47972FAA9<br>LEI: 635400QGWS2BG73SGG55 | Long             | DBT              | CORP              | GE        |     597000 | PA      | $582075.00    | 0.68%             | 2027-01-31      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| SIXSIGMA NETWORKS MEXICO       | COMPANY GUAR 144A 05/25 7.5   | CUSIP: 83006LAB9<br>LEI: 5493000VGOF3UCTUXW26 | Long             | DBT              | CORP              | MX        |     500000 | PA      | $481250.00    | 0.56%             | 2025-05-02      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| SM116901  IRS BRL R F  7.48500 | 7.485%   02 Jan 2029          | CUSIP: 99S1FAZR5<br>LEI: N/A                  | N/A              | DIR              |  | US        |    9935952 | PA      | $-362681.20   | -0.42%            |  |  |  | No            | 2                  | On Loan: No      |
| SM116909  IRS BRL R F  7.47500 | 7.475%   02 Jan 2029          | CUSIP: 99S1FAJI3<br>LEI: N/A                  | N/A              | DIR              |  | US        |     989335 | PA      | $-36298.79    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| SM118165  IRS BRL R F  7.40000 | 7.4%   02 Jan 2029            | CUSIP: 99S1KFDO9<br>LEI: N/A                  | N/A              | DIR              |  | US        |    5424561 | PA      | $-245576.68   | -0.29%            |  |  |  | No            | 2                  | On Loan: No      |
| SM118242  IRS BRL R F  5.85500 | 5.855%   02 Jan 2023          | CUSIP: 99S1KRH35<br>LEI: N/A                  | N/A              | DIR              |  | US        |   11441936 | PA      | $-124988.08   | -0.15%            |  |  |  | No            | 2                  | On Loan: No      |
| SM118426  IRS BRL R F  6.74000 | 6.74%   02 Jan 2023           | CUSIP: 99S1M7V31<br>LEI: N/A                  | N/A              | DIR              |  | US        |   13050205 | PA      | $-123000.38   | -0.14%            |  |  |  | No            | 2                  | On Loan: No      |
| SM118448  IRS BRL R F  8.70500 | 8.705%   02 Jan 2029          | CUSIP: 99S1MB7O3<br>LEI: N/A                  | N/A              | DIR              |  | US        |   11158731 | PA      | $-328624.56   | -0.38%            |  |  |  | No            | 2                  | On Loan: No      |
| SM121030  IRS BRL R F 11.63000 | 11.63%   02 Jan 2025          | CUSIP: 99S1ONVX8<br>LEI: N/A                  | N/A              | DIR              |  | US        |   10030334 | PA      | $35399.69     | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| SM121270  IRS BRL R F 10.79710 | 10.797%   02 Jan 2029         | CUSIP: 99S1PBVU9<br>LEI: N/A                  | N/A              | DIR              |  | US        |    6058265 | PA      | $-22651.13    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| SOVCOMBANK (SOVCOM CAPT)       | SUBORDINATED 144A 04/30 VAR   | CUSIP: 84605LAA4<br>LEI: 635400EQFFCXMNLYU680 | Long             | DBT              | CORP              | IE        |    1165000 | PA      | $58250.00     | 0.07%             | 2030-04-07      | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| SOVCOMBANK (SOVCOM CAPT)       | JR SUBORDINA 144A 12/99 VAR   | CUSIP: 84605LAB2<br>LEI: 635400EQFFCXMNLYU680 | Long             | DBT              | CORP              | IE        |    1450000 | PA      | $72500.00     | 0.08%             | 2099-12-31      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| STATE AGE ROADS                | GOVT GUARANT 144A 06/28 6.25  | CUSIP: 857329AA4<br>LEI: 254900FGEO8P5USHG994 | Long             | DBT              | CORP              | UA        |    1528000 | PA      | $611200.00    | 0.72%             | 2028-06-24      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| STILLWATER MINING CO           | COMPANY GUAR 144A 11/29 4.5   | CUSIP: 86074QAQ5<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |     850000 | PA      | $789310.00    | 0.92%             | 2029-11-16      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD       | COMPANY GUAR REGS 10/24 6.8   | CUSIP: ACI1Z72S6<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $49000.00     | 0.06%             | 2024-10-20      | Fixed         | 6.80%                 | Yes           | 2                  | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD       | SR SECURED REGS 08/22 7.95    | CUSIP: ACI0WNKR8<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $62000.00     | 0.07%             | 2022-08-08      | Fixed         | 7.95%                 | Yes           | 2                  | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD       | SR SECURED REGS 02/24 7.5     | CUSIP: ACI1GJDN0<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |     463000 | PA      | $116907.50    | 0.14%             | 2024-02-01      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| TAJIKISTAN INT BOND            | SR UNSECURED 144A 09/27 7.125 | CUSIP: 87406KAA0<br>LEI: 529900W1LSYUF3CYVU10 | Long             | DBT              | NUSS              | TJ        |    1015000 | PA      | $761250.00    | 0.89%             | 2027-09-14      | Fixed         | 7.12%                 | Yes           | 2                  | On Loan: No      |
| TBC BANK JSC                   | JR SUBORDINA 144A 12/99 VAR   | CUSIP: 48128XAB9<br>LEI: 2138001MSA39Q44QTA18 | Long             | DBT              | CORP              | GE        |     645000 | PA      | $628746.00    | 0.74%             | 2099-12-31      | Fixed         | 10.78%                | Yes           | 2                  | On Loan: No      |
| TCS FINANCE                    | 12/49 6                       | CUSIP: 87251LAA4<br>LEI: 213800VIPIONINOCLD68 | Long             | DBT              | CORP              | IE        |    1835000 | PA      | $183500.00    | 0.21%             | 2049-12-31      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| THAILAND GOVERNMENT BOND       | BONDS 12/28 2.875             | CUSIP: ACI13V4L1<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   19943000 | PA      | $625558.03    | 0.73%             | 2028-12-17      | Fixed         | 2.88%                 | No            | 2                  | On Loan: No      |
| THAILAND GOVERNMENT BOND       | BONDS 12/29 1.6               | CUSIP: ACI1GZYS0<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   32125000 | PA      | $919223.35    | 1.08%             | 2029-12-17      | Fixed         | 1.60%                 | No            | 2                  | On Loan: No      |
| THAILAND GOVERNMENT BOND       | BONDS 06/38 3.3               | CUSIP: ACI16S3F9<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   51839000 | PA      | $1567878.41   | 1.84%             | 2038-06-17      | Fixed         | 3.30%                 | No            | 2                  | On Loan: No      |
| TIMES CHINA HLDG LTD           | SR SECURED REGS 07/25 6.75    | CUSIP: ACI1NKQD7<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $160100.00    | 0.19%             | 2025-07-08      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| TIMES CHINA HLDG LTD           | SR SECURED REGS 07/23 6.75    | CUSIP: ACI1D6KV5<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $100100.00    | 0.12%             | 2023-07-16      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| TITULOS DE TESORERIA           | BONDS 06/32 7                 | CUSIP: ACI0RXZM7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 3180000000 | PA      | $695528.21    | 0.81%             | 2032-06-30      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| TITULOS DE TESORERIA           | BONDS 10/50 7.25              | CUSIP: ACI1RC3R5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 3700000000 | PA      | $728701.92    | 0.85%             | 2050-10-26      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| TITULOS DE TESORERIA           | BONDS 08/26 7.5               | CUSIP: ACI01CGB6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 8270000000 | PA      | $2051143.92   | 2.40%             | 2026-08-26      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| TULLOW OIL PLC                 | SR SECURED 144A 05/26 10.25   | CUSIP: 899415AG8<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | CORP              | GB        |     655000 | PA      | $667366.40    | 0.78%             | 2026-05-15      | Fixed         | 10.25%                | Yes           | 2                  | On Loan: No      |
| TULLOW OIL PLC                 | COMPANY GUAR 144A 03/25 7     | CUSIP: 899415AE3<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | CORP              | GB        |    1840000 | PA      | $1518000.00   | 1.78%             | 2025-03-01      | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| TUPY OVERSEAS SA               | COMPANY GUAR 144A 02/31 4.5   | CUSIP: 89990BAB6<br>LEI: 222100ZREIYU6AS2OO19 | Long             | DBT              | CORP              | LU        |     643000 | PA      | $565846.43    | 0.66%             | 2031-02-16      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| TURKEY GOVERNMENT BOND         | BONDS 09/23 17.2              | CUSIP: ACI20X6P7<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    2091000 | PA      | $131687.36    | 0.15%             | 2023-09-20      | Fixed         | 17.20%                | No            | 2                  | On Loan: No      |
| UKRAINE GOVERNMENT             | SR UNSECURED 144A 03/33 7.253 | CUSIP: 903724BY7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     500000 | PA      | $207375.00    | 0.24%             | 2033-03-15      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: No      |
| UKRAINE GOVERNMENT             | SR UNSECURED 144A 05/29 6.876 | CUSIP: 90372UAR5<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    1380000 | PA      | $571215.12    | 0.67%             | 2029-05-21      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| UKRAINE RAIL (RAIL CAPL)       | SR UNSECURED REGS 07/26 7.875 | CUSIP: ACI1Z4JX4<br>LEI: 213800IW9C7PR3HKI783 | Long             | DBT              | CORP              | GB        |     600000 | PA      | $163440.00    | 0.19%             | 2026-07-15      | Fixed         | 7.88%                 | Yes           | 2                  | On Loan: No      |
| UKREXIMBANK(BIZ FIN PLC)       | SUBORDINATED REGS 11/29 VAR   | CUSIP: ACI1GS764<br>LEI: 213800CQK26QNHYTY203 | Long             | DBT              | CORP              | GB        |     500000 | PA      | $100000.00    | 0.12%             | 2029-11-14      | Fixed         | 9.95%                 | Yes           | 2                  | On Loan: No      |
| UPL CORP LTD                   | SUBORDINATED REGS 12/99 VAR   | CUSIP: ACI1K7FX7<br>LEI: 213800AQLATW4WEEH674 | Long             | DBT              | CORP              | MU        |    1250000 | PA      | $1153437.50   | 1.35%             | 2099-12-31      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| US 10YR NOTE (CBT)JUN22        | XCBT 20220621                 | CUSIP: ADI2177M7<br>LEI: N/A                  | N/A              | DIR              |  | US        |        -64 | NC      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| US ULTRA BOND CBT JUN22        | XCBT 20220621                 | CUSIP: ADI217CD1<br>LEI: N/A                  | N/A              | DIR              |  | US        |        -13 | NC      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UZAUTO MOTORS AJ               | SR UNSECURED 144A 05/26 4.85  | CUSIP: 46653NAA0<br>LEI: 25490082QA3E2MKBZI88 | Long             | DBT              | CORP              | UZ        |     991000 | PA      | $872080.00    | 1.02%             | 2026-05-04      | Fixed         | 4.85%                 | Yes           | 2                  | On Loan: No      |
| VEDANTA RESOURCES              | COMPANY GUAR 144A 04/26 9.25  | CUSIP: 92243XAA9<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |     550000 | PA      | $474375.00    | 0.56%             | 2026-04-23      | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| VEDANTA RESOURCES              | COMPANY GUAR 144A 03/25 8.95  | CUSIP: 92243XAE1<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    1370000 | PA      | $1332325.00   | 1.56%             | 2025-03-11      | Fixed         | 8.95%                 | Yes           | 2                  | On Loan: No      |
| YUZHOU GROUP                   | SR SECURED REGS 10/24 8.375   | CUSIP: ACI1GDPY6<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     630000 | PA      | $82215.00     | 0.10%             | 2024-10-30      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| YUZHOU GROUP                   | SR SECURED REGS 01/27 6.35    | CUSIP: ACI1TWZ52<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     802000 | PA      | $84210.00     | 0.10%             | 2027-01-13      | Fixed         | 6.35%                 | Yes           | 2                  | On Loan: No      |
| YUZHOU GROUP                   | SR SECURED REGS 02/25 7.7     | CUSIP: ACI1K25J0<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    1000000 | PA      | $120000.00    | 0.14%             | 2025-02-20      | Fixed         | 7.70%                 | Yes           | 2                  | On Loan: No      |
| YUZHOU GROUP                   | SR SECURED REGS 02/23 8.5     | CUSIP: ACI17Y3K4<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    1050000 | PA      | $147630.00    | 0.17%             | 2023-02-04      | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2023-02-08

**Name of Applicant:** MassMutual Advantage Funds

**Signature:** /s/ Renee Hitchcock

**Name of Signer:** Renee Hitchcock

**Title:** Treasurer and CFO