# EDGAR Filing Document

**Accession Number:** 0000904112
**File Stem:** 0001410368-26-054392
**Filing Date:** 2026-5
**Character Count:** 231885
**Document Hash:** d66bf508a16e19cd199130e09bcb3efe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-054392.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-054392

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MORGAN STANLEY EMERGING MARKETS DEBT FUND INC
- **CENTRAL INDEX KEY:** 0000904112

**ORGANIZATION NAME:**
- **EIN:** 133713706
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07694
- **FILM NUMBER:** 261030755

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 800-231-2608

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN STANLEY DEAN WITTER EMERGING MARKETS DEBT FUND INC
- **DATE OF NAME CHANGE:** 20000504

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN STANLEY EMERGING MARKETS DEBT FUND INC
- **DATE OF NAME CHANGE:** 19930714

## Nport-Ex

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **FIXED INCOME SECURITIES (96.6%)** |  |  |
| **Albania (0.6%)** |  |  |
| **Sovereign (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Albania Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/23/31 | 100 | $112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 2/14/35 | 750 | 851 |
|  |  | 963 |
| **Angola (4.6%)** |  |  |
| **Corporate Bonds (1.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Azule Energy Finance PLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 1/23/30 (a) | $1133 | 1148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 1/22/33 (a) | 200 | 202 |
| &nbsp;&nbsp;&nbsp;Sonangol Finance Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 1/29/31 | 452 | 451 |
|  |  | 1801 |
| **Sovereign (3.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Angolan Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/26/29 | 500 | 495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 4/14/32 | 200 | 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13%, 11/26/49 | 450 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.24%, 1/15/31 | 790 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 3/31/33 - 5/8/48 | 1132 | 1096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.88%, 10/15/35 - 3/31/37 | 2370 | 2369 |
|  |  | 5347 |
|  |  | 7148 |
| **Argentina (4.2%)** |  |  |
| **Corporate Bonds (1.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Macro SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 6/23/29 (a) | 508 | 518 |
| &nbsp;&nbsp;&nbsp;Empresa Distribuidora de Electricidad de Mendoza SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 7/28/31 (a)(b) | 670 | 648 |
| &nbsp;&nbsp;&nbsp;Generacion Mediterranea SA/Central Termica Roca SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 11/1/31 (a)(c)(d) | 426 | 291 |
| &nbsp;&nbsp;&nbsp;IRSA Inversiones y Representaciones SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 3/31/35 (a) | 303 | 309 |
| &nbsp;&nbsp;&nbsp;Vista Energy Argentina SAU, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 6/10/33 (a) | 263 | 275 |
| &nbsp;&nbsp;&nbsp;YPF SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 1/17/34 (a) | 178 | 181 |
|  |  | 2222 |
| **Senior Loan Interests (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Provincia De Neuquen, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche A Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 Month SOFR + 7.30%, 11.09%, 5/28/27 (e) | 95 | 96 |
| &nbsp;&nbsp;&nbsp;Provincia De Neuquen, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tranche B Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 Month SOFR + 7.30%, 11.09%, 5/28/27 (e) | 121 | 122 |
| &nbsp;&nbsp;&nbsp;VMOS SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1st Lien Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 Month SOFR + 5.50%, 9.09%, 7/8/30 (e) | 650 | 654 |
|  |  | 872 |
| **Sovereign (2.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Argentine Republic Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 7/9/30 (b) | 576 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 7/9/29 | 140 | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 7/9/41 (b) | 300 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 7/9/35 (b) | 1660 | 1199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 1/9/38 (b) | 300 | 226 |
| &nbsp;&nbsp;&nbsp;Province of Santa Fe, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10%, 12/11/34 | 271 | 259 |
| &nbsp;&nbsp;&nbsp;Provincia de Cordoba, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 7/2/32 (a) | 927 | 950 |
|  |  | 3441 |
|  |  | 6535 |
| **Armenia (0.3%)** |  |  |
| **Corporate Bond (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ardshinbank CJSC Via Dilijan Finance BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 1/22/31 | 276 | 272 |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Armenia International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 3/12/35 | 200 | 204 |
|  |  | 476 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Azerbaijan (0.2%)** |  |  |
| **Sovereign (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Azerbaijan International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 9/1/32 | $340 | $314 |
| **Bahamas (0.9%)** |  |  |
| **Senior Loan Interests (0.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;Commonwealth of Bahamas, 2024 EUR Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 Month EURIBOR + 6.85%, 8.97%, 11/24/28 (e) | 1125 | 1335 |
| **Benin (1.0%)** |  |  |
| **Sovereign (1.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;Benin Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 1/19/32 | 150 | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 1/22/35 | 300 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 1/19/52 | 326 | 324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.96%, 2/13/38 | $500 | 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 1/23/41 | 200 | 198 |
|  |  | 1483 |
| **Bosnia and Herzegovina (0.2%)** |  |  |
| **Sovereign (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Srpska International Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 4/2/31 (f) | 280 | 325 |
| **Brazil (5.5%)** |  |  |
| **Corporate Bonds (5.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Braskem Netherlands Finance BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 1/31/30 | $1155 | 538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.06%, 1/23/81 | 518 | 150 |
| &nbsp;&nbsp;&nbsp;Constellation Oil Services Holding SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 11/7/29 (a) | 844 | 878 |
| &nbsp;&nbsp;&nbsp;CSN Inova Ventures, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 1/28/28 | 400 | 294 |
| &nbsp;&nbsp;&nbsp;Eldorado International. Finance GmbH, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 12/1/32 (a) | 585 | 590 |
| &nbsp;&nbsp;&nbsp;FORESEA Holding SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 6/15/30 | 206 | 202 |
| &nbsp;&nbsp;&nbsp;FS Luxembourg SARL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 2/11/36 (a) | 704 | 648 |
| &nbsp;&nbsp;&nbsp;Gol Finance, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.38%, 6/6/30 (a) | 839 | 746 |
| &nbsp;&nbsp;&nbsp;Oceanica Lux, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.00%, 10/2/29 (a) | 827 | 872 |
| &nbsp;&nbsp;&nbsp;OHI Group SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.00%, 7/22/29 (a) | 1254 | 1257 |
| &nbsp;&nbsp;&nbsp;OI SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50% Cash, 6.00% PIK, 13.50%, 6/30/27 (a)(c)(d)(g) | 497 | 241 |
| &nbsp;&nbsp;&nbsp;Raizen Fuels Finance SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 1/17/35 (c)(d) | 529 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 7/8/32 (a)(c)(d) | 200 | 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 2/25/37 (c)(d) | 526 | 284 |
| &nbsp;&nbsp;&nbsp;Samarco Mineracao SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00% Cash, 9.00% PIK, 9.00%, 6/30/31 (c)(d)(g) | 1352 | 1331 |
| &nbsp;&nbsp;&nbsp;Unigel Luxembourg SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.50% Cash, 15.00% PIK, 28.50%, 12/31/27 (c)(d)(g) | 34 | 2 |
| &nbsp;&nbsp;&nbsp;Yinson Boronia Production BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.95%, 7/31/42 (a) | 195 | 213 |
|  |  | 8647 |
| **Bulgaria (0.2%)** |  |  |
| **Sovereign (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Bulgaria Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 3/5/37 | 280 | 271 |
| **Chile (3.1%)** |  |  |
| **Sovereign (3.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Chile Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 7/27/33 | 2950 | 2518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 1/25/50 | 1100 | 789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 1/5/36 | 1500 | 1485 |
|  |  | 4792 |
| **China (1.0%)** |  |  |
| **Corporate Bonds (1.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 9/15/32 | 110 | 106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50%, 6/1/31 | 183 | 254 |
| &nbsp;&nbsp;&nbsp;H World Group Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 5/1/26 | 140 | 188 |
| &nbsp;&nbsp;&nbsp;KWG Group Holdings Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 8/30/24 (c)(d) | 654 | 35 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Corporate Bonds (cont'd)** |  |  |
| &nbsp;&nbsp;&nbsp;Longfor Group Holdings Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 9/16/29 | $572 | $454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 1/16/28 | 200 | 178 |
| &nbsp;&nbsp;&nbsp;Shimao Group Holdings Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00% Cash, 3.00% PIK, 5.00%, 7/21/32 - 1/21/34 (a)(c)(d)(g) | 785 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% Cash, 6.00% PIK, 11.00%, 7/21/31 (a)(c)(d)(g) | 1089 | 41 |
| &nbsp;&nbsp;&nbsp;Sunac China Holdings Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 6/23/26 - 6/23/28 (a)(c)(d) | 1081 | 207 |
| &nbsp;&nbsp;&nbsp;Times China Holdings Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 3/30/27 (a)(c)(d) | 1122 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00% Cash, 4.00% PIK, 4.00%, 3/30/29 (a)(c)(d)(g) | 209 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00% Cash, 4.20% PIK, 4.20%, 9/30/32 (a)(c)(d)(g) | 781 | 25 |
|  |  | 1524 |
| **Colombia (2.9%)** |  |  |
| **Corporate Bonds (1.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;ABRA Global Finance, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% Cash, 8.00% PIK, 14.00%, 10/22/29 (a)(g) | 416 | 395 |
| &nbsp;&nbsp;&nbsp;Avianca Midco 2 PLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 12/1/28 (a) | 349 | 338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 1/28/31 (a) | 200 | 184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 2/14/30 (a) | 304 | 284 |
| &nbsp;&nbsp;&nbsp;Banco Davivienda SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 yr. CMT + 5.10%, 6.65%, 4/22/31 (h) | 438 | 387 |
| &nbsp;&nbsp;&nbsp;Banco de Occidente SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.88%, 8/13/34 | 518 | 580 |
|  |  | 2168 |
| **Sovereign (1.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Colombia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 4/15/31 | 550 | 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 5/15/51 | 510 | 311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/7/36 | 1530 | 1567 |
|  |  | 2348 |
|  |  | 4516 |
| **Costa Rica (0.7%)** |  |  |
| **Sovereign (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Costa Rica Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 4/3/34 | 1100 | 1163 |
| **Dominican Republic (2.9%)** |  |  |
| **Sovereign (2.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;Dominican Republic International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 1/30/30 | 1000 | 953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 9/23/32 | 1890 | 1746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 1/21/41 | 600 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 2/22/33 | 200 | 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.85%, 1/27/45 (a) | 800 | 783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.45%, 4/30/44 (a) | 400 | 418 |
|  |  | 4607 |
| **Ecuador (1.6%)** |  |  |
| **Sovereign (1.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ecuador Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 7/31/30 | 540 | 449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/31/40 (b) | 300 | 236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 7/31/35 (b) | 927 | 819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 1/29/34 (a) | 500 | 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 1/29/39 (a) | 500 | 491 |
|  |  | 2486 |
| **Egypt (3.3%)** |  |  |
| **Sovereign (3.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Egypt Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 4/16/30 | 600 | 651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 2/16/31 | $200 | 184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 4/11/31 | 900 | 981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 9/30/33 | $300 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.90%, 2/21/48 | 207 | 169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 1/31/47 | 800 | 692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 2/4/30 | 207 | 214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 9/30/51 | 1899 | 1670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 5/29/50 | 401 | 354 |
|  |  | 5195 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **El Salvador (0.7%)** |  |  |
| **Sovereign (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;El Salvador Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.65%, 6/15/35 | $216 | $212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 4/10/32 | 450 | 463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 4/17/30 | 212 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.65%, 11/21/54 (a) | 229 | 243 |
|  |  | 1139 |
| **Ethiopia (1.3%)** |  |  |
| **Sovereign (1.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ethiopia International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 12/11/24 (c)(d) | 2047 | 2098 |
| **Gabon (0.4%)** |  |  |
| **Sovereign (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Gabon Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 2/6/31 | 502 | 421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 2/18/29 | 213 | 200 |
|  |  | 621 |
| **Georgia (1.5%)** |  |  |
| **Corporate Bonds (1.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of Georgia JSC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 7/16/29 (h) | 830 | 866 |
| &nbsp;&nbsp;&nbsp;TBC Bank JSC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.25%, 7/30/29 (h) | 830 | 884 |
|  |  | 1750 |
| **Sovereign (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Georgia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 1/28/31 | 678 | 652 |
|  |  | 2402 |
| **Ghana (0.9%)** |  |  |
| **Corporate Bond (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Tullow Oil PLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.25%, 5/15/26 | 378 | 355 |
| **Sovereign (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ghana Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 7/3/26 (c)(d) | 37 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/3/29 - 7/3/35 (b)(c)(d) | 1212 | 1068 |
|  |  | 1104 |
|  |  | 1459 |
| **Greece (0.1%)** |  |  |
| **Corporate Bond (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Piraeus Bank SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 10/15/32 (h) | 200 | 219 |
| **Guatemala (1.0%)** |  |  |
| **Sovereign (1.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;Guatemala Government Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 10/7/33 | $400 | 350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 4/24/32 | 700 | 694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 2/6/37 | 500 | 523 |
|  |  | 1567 |
| **Guyana (0.1%)** |  |  |
| **Corporate Bond (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Secure International Finance Co., Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 6/3/29 (a) | 161 | 161 |
| **Honduras (0.3%)** |  |  |
| **Sovereign (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Honduras Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 11/27/34 | 350 | 394 |
| **Hungary (2.6%)** |  |  |
| **Corporate Bond (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;OTP Bank Nyrt, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 7/30/35 | 305 | 314 |
| **Sovereign (2.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Hungary Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 6/16/29 | 600 | 602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 9/26/30 | 400 | 403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 6/16/34 - 3/26/36 | 1600 | 1569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 9/22/32 | 1200 | 1252 |
|  |  | 3826 |
|  |  | 4140 |
| **India (0.6%)** |  |  |
| **Sovereign (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Export-Import Bank of India, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 2/1/28 | 500 | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 1/12/36 | 500 | 490 |
|  |  | 984 |
| **Iraq (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Iraq International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 1/15/28 | 103 | 100 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Ivory Coast (0.7%)** |  |  |
| **Sovereign (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ivory Coast Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 1/30/37 | $1001 | $1030 |
| **Jamaica (0.8%)** |  |  |
| **Corporate Bonds (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Digicel International Finance Ltd./Difl U.S. LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 8/1/32 (a) | 390 | 397 |
| &nbsp;&nbsp;&nbsp;NCB Financial Group Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 7/31/30 (a) | 620 | 650 |
|  |  | 1047 |
| **Senior Loan Interests (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Digicel International Finance Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 Month SOFR + 5.25%, 8.92%, 8/6/32 (e) | 258 | 258 |
|  |  | 1305 |
| **Jordan (0.6%)** |  |  |
| **Sovereign (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Jordan Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 7/7/30 | 1006 | 992 |
| **Kazakhstan (0.8%)** |  |  |
| **Corporate Bonds (0.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;ForteBank JSC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 2/4/30 (a) | 646 | 648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 11/3/30 (h) | 538 | 533 |
|  |  | 1181 |
| **Kenya (1.8%)** |  |  |
| **Sovereign (1.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Kenya Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 10/9/33 - 2/26/34 | 1092 | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 2/28/48 | 555 | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.70%, 2/26/39 | 200 | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.80%, 10/9/38 | 208 | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 3/5/36 | 900 | 883 |
|  |  | 2742 |
| **Lebanon (2.0%)** |  |  |
| **Sovereign (2.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;Lebanon Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 4/14/20 (c)(d) | 1390 | 329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 1/27/23 (c)(d) | 721 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 10/4/22 (c)(d) | 1357 | 323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 6/19/20 (c)(d) | 135 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 2/26/25 (c)(d) | 166 | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 5/27/22 - 6/12/25 (c)(d) | 491 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 3/9/20 (c)(d) | 72 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 5/26/23 (c)(d) | 2898 | 694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 11/27/26 (c)(d) | 190 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 4/22/24 - 2/26/30 (c)(d) | 750 | 179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 11/29/27 (c)(d) | 222 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.85%, 3/23/27 - 5/25/29 (c)(d) | 2455 | 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 12/3/24 - 3/23/32 (c)(d) | 1501 | 365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.05%, 11/2/35 (c)(d) | 111 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 3/23/37 (c)(d) | 373 | 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.20%, 5/17/33 (c)(d) | 111 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 4/12/21 (c)(d) | 17 | 4 |
|  |  | 3104 |
| **Malaysia (2.1%)** |  |  |
| **Sovereign (2.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Petronas Capital Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 1/28/32 | 1500 | 1343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 4/21/50 | 520 | 448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 4/3/35 | 1500 | 1540 |
|  |  | 3331 |
| **Mexico (5.0%)** |  |  |
| **Corporate Bonds (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Mercantil del Norte SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 5/20/31 (a)(h) | 217 | 223 |
| &nbsp;&nbsp;&nbsp;Braskem Idesa SAPI, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.99%, 2/20/32 (c)(d) | 309 | 189 |
| &nbsp;&nbsp;&nbsp;Fideicomiso Irrevocable de Administracion y Fuente de Pago Numero CIB/4323, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00% Cash, 2.00% PIK, 13.00%, 9/12/30 (c)(d) | 804 | 352 |
| &nbsp;&nbsp;&nbsp;Grupo Aeromexico SAB de CV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 11/15/31 (a) | 413 | 397 |
|  |  | 1161 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Sovereign (4.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Mexico Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 2/12/52 | $560 | $399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 7/2/32 | 1910 | 1919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 5/7/36 | 770 | 767 |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 1/28/31 | 840 | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 6/15/35 | 800 | 746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 2/16/32 | 1280 | 1254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 9/21/47 | 685 | 547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.69%, 1/23/50 | 300 | 260 |
|  |  | 6696 |
|  |  | 7857 |
| **Mongolia (1.1%)** |  |  |
| **Corporate Bonds (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Golomt Bank, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 5/20/27 | 263 | 267 |
| &nbsp;&nbsp;&nbsp;Mongolian Mining Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.44%, 4/3/30 | 200 | 199 |
| &nbsp;&nbsp;&nbsp;State Bank JSC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.90%, 9/25/28 | 410 | 398 |
|  |  | 864 |
| **Sovereign (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Mongolia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 3/9/32 (a) | 200 | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 2/25/30 | 400 | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 6/5/29 | 280 | 293 |
|  |  | 896 |
|  |  | 1760 |
| **Montenegro (1.1%)** |  |  |
| **Sovereign (1.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Montenegro Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 4/1/32 | 1550 | 1781 |
| **Morocco (0.5%)** |  |  |
| **Sovereign (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Morocco Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/15/32 | $500 | 430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/15/50 (a) | 400 | 275 |
|  |  | 705 |
| **Nicaragua (0.3%)** |  |  |
| **Corporate Bond (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Polaris Renewable Energy, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 12/3/29 | 375 | 388 |
| **Nigeria (2.1%)** |  |  |
| **Sovereign (2.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Nigeria Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.70%, 2/23/38 | 350 | 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 2/16/32 | 470 | 476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 3/24/29 | 400 | 421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.38%, 12/9/34 | 1716 | 1969 |
|  |  | 3205 |
| **Oman (2.8%)** |  |  |
| **Sovereign (2.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Oman Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 3/8/27 | 500 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 8/1/29 | 300 | 309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 1/25/31 | 1890 | 1972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 1/17/48 | 500 | 521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 10/28/32 | 900 | 1003 |
|  |  | 4308 |
| **Pakistan (0.7%)** |  |  |
| **Corporate Bond (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Veon Midco BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 11/25/27 | 430 | 408 |
| **Sovereign (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Pakistan Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 4/8/31 | 728 | 675 |
|  |  | 1083 |
| **Panama (2.9%)** |  |  |
| **Senior Loan Interests (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Coral-U.S. Co-Borrower LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 Term Loan B7, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Month SOFR + 3.25%, 6.92%, 1/31/32 (e) | 578 | 569 |
| **Sovereign (2.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 9/17/32 (a)(h) | 205 | 210 |
| &nbsp;&nbsp;&nbsp;Panama Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16%, 1/23/30 | 1000 | 936 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Sovereign (cont'd)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 1/19/33 | $740 | $647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.66%, 2/23/38 | 990 | 952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 2/14/35 | 1110 | 1155 |
|  |  | 3900 |
|  |  | 4469 |
| **Paraguay (0.7%)** |  |  |
| **Corporate Bond (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Frigorifico Concepcion SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.70%, 7/21/28 | 229 | 62 |
| **Senior Loan Interests (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Frigorifico Concepcion SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Month SOFR + 5.50%, 9.17%, 12/8/26 (e) | 506 | &nbsp;&nbsp;&nbsp;512 |
| **Sovereign (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Paraguay Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 2/9/36 | 500 | 520 |
|  |  | 1094 |
| **Peru (2.3%)** |  |  |
| **Corporate Bond (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Auna SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 12/18/29 (a) | 731 | 760 |
| **Sovereign (1.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Peruvian Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 1/15/34 | 2400 | 2053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 3/11/41 | 500 | 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 8/8/54 | 400 | 386 |
|  |  | 2817 |
|  |  | 3577 |
| **Philippines (2.3%)** |  |  |
| **Sovereign (2.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Philippine Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 3/5/35 | 1200 | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 7/17/33 | 1500 | 1492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 1/17/48 | 500 | 481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 1/15/32 | 400 | 430 |
|  |  | 3559 |
| **Romania (3.4%)** |  |  |
| **Sovereign (3.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Romanian Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 7/13/30 | 148 | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 4/14/33 | 118 | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 1/28/50 | 73 | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 4/3/49 | 397 | 347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 5/30/37 | 353 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 3/24/35 | $2074 | 1966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 7/11/32 | 288 | 338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 10/7/37 | 613 | 689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 7/11/39 | 393 | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 2/10/37 | $800 | 847 |
|  |  | 5336 |
| **Saudi Arabia (0.5%)** |  |  |
| **Corporate Bonds (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Riyad Sukuk Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.21%, 7/14/35 | 390 | 388 |
| &nbsp;&nbsp;&nbsp;Saudi Awwal Bank, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 9/4/35 | 400 | 392 |
|  |  | 780 |
| **Senegal (0.2%)** |  |  |
| **Corporate Bond (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Golar LNG Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 9/19/29 | 200 | 204 |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Senegal Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 5/23/33 | 247 | 132 |
|  |  | 336 |
| **Serbia (0.4%)** |  |  |
| **Sovereign (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Serbia International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 9/23/36 | 432 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 12/1/30 | $300 | 260 |
|  |  | 639 |
| **South Africa (0.2%)** |  |  |
| **Corporate Bond (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;Sasol Financing USA LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 4/10/33 (f) | 350 | 349 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Sri Lanka (0.9%)** |  |  |
| **Sovereign (0.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;Sri Lanka Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 1/15/30 (a)(b)(c)(d) | $320 | $294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 3/15/33 (a)(b)(c)(d) | 104 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 6/15/35 - 2/15/38 (a)(b)(c)(d) | 854 | 752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 4/15/28 (a)(c)(d) | 307 | 293 |
|  |  | 1426 |
| **Suriname (1.8%)** |  |  |
| **Senior Loan Interests (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Staatsolie Maatschappij Suriname NV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Month SOFR + 5.50%, 9.17%, 5/24/32 (e) | 257 | 260 |
| **Sovereign (1.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Suriname Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.70%, 11/6/30 (a)(c)(d) | 576 | 584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 11/6/35 (a)(c)(d) | 1977 | 2040 |
|  |  | 2624 |
|  |  | 2884 |
| **Tanzania, United Republic Of (4.1%)** |  |  |
| **Senior Loan Interests (4.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;HTA Group Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;2024 Term Loan Tranche A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Month SOFR + 4.31%, 7.96%, 9/13/28 (e) | 120 | 120 |
| &nbsp;&nbsp;&nbsp;2024 Tranche C Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Month SOFR + 4.31%, 7.90%, 9/13/28 (e) | 760 | 760 |
| &nbsp;&nbsp;&nbsp;Tanzania, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 Term Loan A2, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 Month SOFR + 5.45%, 9.46%, 2/27/31 (e) | 5600 | 5530 |
|  |  | 6410 |
| **Togo (0.5%)** |  |  |
| **Corporate Bonds (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ecobank Transnational, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.13%, 10/15/29 (a) | 787 | 849 |
| **Trinidad And Tobago (0.1%)** |  |  |
| **Sovereign (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;Trinidad & Tobago Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 1/14/31 | 200 | 202 |
| **Turkey (0.5%)** |  |  |
| **Corporate Bonds (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Akbank TAS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.37%, 3/14/29 (h) | 200 | 201 |
| &nbsp;&nbsp;&nbsp;Limak Iskenderun Uluslararasi Liman Isletmeciligi AS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 7/10/36 | 279 | 274 |
| &nbsp;&nbsp;&nbsp;Limak Yenilenebilir Enerji AS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 8/12/30 (a) | 257 | 250 |
|  |  | 725 |
| **Ukraine (2.4%)** |  |  |
| **Corporate Bonds (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;Kernel Holding SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/27/27 | 613 | 594 |
| &nbsp;&nbsp;&nbsp;MHP Lux SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 7/28/29 | 200 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 9/19/29 | 243 | 219 |
|  |  | 1014 |
| **Sovereign (1.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;Ukraine Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 2/1/30 (b)(c)(d) | 42 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 2/1/34 - 2/1/36 (b)(c)(d) | 963 | 434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 2/1/32 (b)(c)(d) | 500 | 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 2/1/29 - 2/1/36 (b)(c)(d) | 3589 | 1980 |
|  |  | 2801 |
|  |  | 3815 |
| **Uruguay (1.3%)** |  |  |
| **Sovereign (1.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Uruguay Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 6/18/50 | 500 | 460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.44%, 2/14/37 | 1600 | 1635 |
|  |  | 2095 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

*(Showing Percentage of Total Value of Investments)*

---

| | | |
|:---|:---|:---|
|  | **Face Amount**<br>**(000)** | **Value**<br>**(000)** |
| **Uzbekistan (1.1%)** |  |  |
| **Corporate Bonds (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;Uzbek Industrial & Construction Bank ATB, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.95%, 7/24/29 | $293 | $311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.45%, 10/23/30 (h) | 400 | 402 |
|  |  | 713 |
| **Sovereign (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;Republic of Uzbekistan International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 2/28/32 | 1000 | 1045 |
|  |  | 1758 |
| **Venezuela (5.3%)** |  |  |
| **Sovereign (5.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos de Venezuela SA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00%, 10/20/27 | 686 | 809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 4/12/27 (c)(d) | 1427 | 478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/28/22 - 11/15/26 (c)(d) | 4724 | 1545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 10/27/20 (c)(d) | 544 | 566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 11/17/21 (c)(d) | 1046 | 403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 5/17/35 (c)(d) | 1321 | 552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 2/17/22 (c)(d) | 822 | 374 |
| &nbsp;&nbsp;&nbsp;Venezuela Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/9/20 (c)(d) | 601 | 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 12/1/18 - 3/31/38 (c)(d) | 617 | 243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.65%, 4/21/25 (c)(d) | 667 | 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 10/13/19 (c)(d) | 1079 | 445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 10/13/24 (c)(d) | 819 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 5/7/23 (c)(d) | 807 | 365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 9/15/27 - 5/7/28 (c)(d) | 900 | 431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 1/13/34 (c)(d) | 75 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.75%, 10/21/26 (c)(d) | 368 | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.95%, 8/5/31 (c)(d) | 489 | 252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 8/23/22 (c)(d) | 1273 | 646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.63%, 8/15/18 (c)(d) | 270 | 138 |
|  |  | 8340 |
| **Zambia (0.5%)** |  |  |
| **Sovereign (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;Zambia Government International Bond, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50%, 12/31/53 (c)(d) | 880 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 6/30/33 (b)(c)(d) | 202 | 190 |
|  |  | 771 |
| &nbsp;&nbsp;&nbsp;**TOTAL FIXED INCOME SECURITIES (COST $151,492)** |  | 151250 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | |
| **COMMON STOCKS (0.0%)‡** | | |
| **China (0.0%)‡** | | |
| &nbsp;&nbsp;&nbsp;Shimao Group Holdings Ltd. (i)(j) | 203608 | 5 |
| **Hong Kong (0.0%)‡** |  |  |
| &nbsp;&nbsp;&nbsp;Times China Holdings Ltd. (j) | 528816 | 5 |
| &nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (COST $123)** |  | 10 |

---

---

| | | |
|:---|:---|:---|
|  | **No. of<br> Warrants** |  |
| **WARRANTS (0.0%)‡** |  |  |
| **Venezuela (0.0%)‡** |  |  |
| &nbsp;&nbsp;&nbsp;Venezuela Government International Bond, Oil-Linked Payment Obligation expires 4/15/20 (e)(h)(j) **(Cost $—)** | 5450 | 12 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | |
| **SHORT-TERM INVESTMENTS (6.0%)** | | |
| **Investment Company (5.5%)** | | |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds — Treasury Securities Portfolio — Institutional Class, 3.52% (k) **(Cost $8,629)** | 8629516 | 8629 |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

---

| | | |
|:---|:---|:---|
|  | **Face Amount<br> (000)** | **Value<br> (000)** |
| **United States (0.5%)** | |  |
| **U.S. Treasury Security (0.5%)** | |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bill, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.67%, 6/16/26 (l) **(Cost $680)** | $685 | $680 |
| &nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (COST $9,309)** |  | 9309 |
| **Total Investments (102.6%) (Cost $160,924)(m)(n)(o)** |  | 160581 |
| Liabilities in Excess of Other Assets (-2.6%) |  | (4064) |
| **Net Assets (100.0%)** |  | $156517 |

---

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) Multi-step
 — Coupon rate changes in predetermined increments to maturity. Rate disclosed is as
 of March 31, 2026. Maturity date disclosed is the ultimate maturity date.

(c) Issuer
 in bankruptcy.

(d) Non-income
 producing security; bond in default.

(e) Floating
 or variable rate securities: The rates disclosed are as of March 31, 2026. 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.

(f) When-issued
 security.

(g) Income
 may be paid in additional securities and/or cash at the discretion of the issuer.

(h) Perpetual
 — One or more securities do not have a predetermined maturity date. Rates for these
 securities are fixed for a period of time after which they revert to a floating rate. Interest
 rates in effect are as of March 31, 2026.

(i) Security
 trades on the Hong Kong exchange.

(j) Non-income
 producing security.

(k) 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 three months ended March 31, 2026, advisory fees
 paid were reduced by approximately $6,000 relating to the Fund's investment in the Liquidity
 Fund.

(l) Rate
 shown is the yield to maturity at March 31, 2026.

(m) Securities
 are available for collateral in connection with purchase of when-issued securities, open
 foreign currency forward exchange contracts, futures contracts and swap agreements.

(n) At
 March 31, 2026, the Fund had unfunded loan commitments of $2,984,000, which could be extended
 at the option of the borrowers,pursuant to the following loan agreements:

---

| | | | |
|:---|:---|:---|:---|
| **Borrower** | **Unfunded<br> Loan<br> Commitments<br> (000)** | **Value<br> (000)** | **Unrealized<br> Appreciation<br> (000)** |
| Staatsolie Maatschappij Suriname NV | $2444 | $2444 | $0 |
| VMOS SA | 540 | 540 | 0 |
|  | $2984 | $2984 | $0 |

---

(o) At
 March 31, 2026, the aggregate cost for federal income tax purposes approximates the aggregate
 cost for book purposes. The aggregate gross unrealized appreciation is approximately $7,474,000
 and the aggregate gross unrealized depreciation is approximately $8,232,000, resulting in
 net unrealized depreciation of approximately $758,000.

---

| | |
|:---|:---|
| CMT | Constant Maturity Treasury Note Rate. |
| EUR | EURO |
| EURIBOR | Euro Interbank Offered Rate. |
| JSC | Joint Stock Company. |
| PIK | Payment-in-Kind. |
| SOFR | Secured Overnight Financing Rate. |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

**Foreign Currency Forward Exchange Contracts:**

The Fund had the following foreign currency forward exchange contracts open at March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts<br> to Deliver<br> (000)** | **In <br> Exchange<br> For <br> (000)** | **Delivery <br> Date** | **Unrealized<br> Appreciation<br> (Depreciation)<br> (000)** |
| Bank of America NA | 280 | $323 | 4/10/26 | $(1) |
| Bank of America NA | $930 | 804 | 4/10/26 | (— |
| Bank of America NA | $322 | 280 | 4/2/26 | 1 |
| Barclays Bank PLC | $306 | 264 | 4/10/26 | (1) |
| Citibank NA | $66 | 58 | 4/10/26 | 1 |
| Citibank NA | $1674 | 1460 | 4/10/26 | 14 |
| Goldman Sachs International | 883 | $1029 | 4/10/26 | 8 |
| Goldman Sachs International | 1402 | $1633 | 4/10/26 | 13 |
| Goldman Sachs International | 1147 | $1337 | 4/10/26 | 10 |
| Goldman Sachs International | 573 | $667 | 4/10/26 | 5 |
| Goldman Sachs International | 291 | $339 | 4/10/26 | 3 |
| Goldman Sachs International | 4790 | $5582 | 4/10/26 | 43 |
| Goldman Sachs International | 7 | $8 | 4/10/26 |  |
| Goldman Sachs International | 595 | $694 | 4/10/26 | 5 |
| Goldman Sachs International | 1313 | $1530 | 4/10/26 | 12 |
| Goldman Sachs International | 1500 | $1748 | 4/10/26 | 14 |
| Goldman Sachs International | $193 | 166 | 4/10/26 | (2) |
| Goldman Sachs International | $72 | 62 | 4/10/26 | (1) |
| Goldman Sachs International | $253 | 217 | 4/10/26 | (2) |
| Goldman Sachs International | $21 | 18 | 4/10/26 | (— |
| State Street Bank and Trust Co. | 710 | $828 | 4/10/26 | 7 |
| State Street Bank and Trust Co. | $263 | 227 | 4/10/26 | (— |
| UBS AG | 198 | $229 | 4/10/26 |  |
|  |  |  |  | $129 |

---

**Futures Contracts:**

The Fund had the following futures contracts open at March 31, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount<br>(000)** | **Value<br>(000)** | **Unrealized<br>Appreciation<br>(Depreciation)<br>(000)** |
| **Long:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 2 yr. Note (United States) | 46 | Jun-26 | $9200 | $9542 | $(68) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5 yr. Note (United States) | 20 | Jun-26 | 2000 | 2163 | (19) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10 yr. Ultra Note (United States) | 77 | Jun-26 | 7700 | 8741 | (159) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond (United States) | 88 | Jun-26 | 8800 | 10021 | (277) |
| &nbsp;&nbsp;&nbsp;Ultra U.S. Treasury Bond (United States) | 109 | Jun-26 | 10900 | 12705 | (358) |
| **Short:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Euro-Buxl 30 yr. Bond Index (Germany) | 3 | Jun-26 | (300) | (382) | 6 |
| &nbsp;&nbsp;&nbsp;German Euro-Bobl Index (Germany) | 22 | Jun-26 | (2200) | (2935) | 39 |
| &nbsp;&nbsp;&nbsp;German Euro-Bund Index (Germany) | 25 | Jun-26 | (2500) | (3623) | 78 |
| &nbsp;&nbsp;&nbsp;German Euro-Schatz Index (Germany) | 23 | Jun-26 | (2300) | (2811) | 25 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10 yr. Note (United States) | 122 | Jun-26 | $(12200) | (13548) | 141 |
|  |  |  |  |  | $(592) |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Portfolio of Investments (cont'd)

**Credit Default Swap Agreements:**

The Fund had the following credit default swap agreements open at March 31, 2026:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Swap<br>Counterparty<br>and Reference<br>Obligation** | **Credit<br>Rating of<br>Reference<br>Obligation** | **Buy/Sell<br>Protection** | **Pay/<br>Received<br>Fixed<br>Rate** | **Payment<br>Frequency** | **Maturity<br>Date** | **Notional<br>Amount<br>(000)** | **Value<br>(000)** | **Upfront<br>Payment<br>Paid<br>(Received)<br>(000)** | **Unrealized<br>Appreciation<br> (Depreciation)<br>(000)** |
| Barclays Bank PLC |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Benin Government International Bonds | NR | Sell | 1.00% | Quarterly | 6/20/27 | $100 | $(1) | $(3) | $2 |
| Barclays Bank PLC |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Benin Government International Bonds | NR | Sell | 1.00 | Quarterly | 6/20/27 | 100 | (1) | (3) | 2 |
| Morgan Stanley & Co. LLC\* |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Egypt Government International Bonds | NR | Sell | 1.00 | Quarterly | 12/20/28 | 303 | (19) | (50) | 31 |
| Goldman Sachs International |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | NR | Sell | 1.00 | Quarterly | 6/20/26 | 370 | (1) | (3) | 2 |
| Goldman Sachs International |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | NR | Sell | 1.00 | Quarterly | 6/20/27 | 1030 | (15) | (17) | 2 |
| JPMorgan Chase Bank NA |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | NR | Sell | 1.00 | Quarterly | 6/20/27 | 456 | (6) | (9) | 3 |
| Barclays Bank PLC |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | NR | Sell | 1.00 | Quarterly | 12/20/26 | 914 | (7) | (8) | 1 |
| Barclays Bank PLC |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | NR | Sell | 1.00 | Quarterly | 6/20/27 | 686 | (10) | (12) | 2 |
| Barclays Bank PLC |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos | NR | Sell | 1.00 | Quarterly | 6/20/27 | 150 | (2) | (3) | 1 |
| Barclays Bank PLC |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Ecuador Government International Bonds | NR | Buy | 5.00% | Quarterly | 12/20/26 | 57 | (1) | (1) | (— |
| Morgan Stanley & Co. LLC\* |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Petrobras Global Finance BV | NR | Buy | 1.00 | Quarterly | 6/20/31 | 2896 | 63 | 63 | (— |
|  |  |  |  |  |  |  | $— | $(46) | $46 |

---

---

| | |
|:---|:---|
| @ | Value is less than $500. |
| \* | Cleared swap agreement, the broker is Morgan Stanley & Co. LLC. |
| NR | Not rated. |
| EUR | Euro |

---

**Portfolio Composition**

---

| | | |
|:---|:---|:---|
| **Classification** | **Percentage of<br>Total Investments** |  |
| Sovereign | 69.2 | % |
| Corporate Bonds | 18.6 |  |
| Senior Loan Interests | 6.4 |  |
| Short-Term Investments | 5.8 |  |
| Other\* |  | ‡ |
| Total Investments | 100.0 | %\*\* |

---

---

| | |
|:---|:---|
| \* | Industries and/or investment types representing less than 5% of total investments. |
| ‡ | Amount is less than 0.05%. |
| \*\* | Does not include open futures contracts with a value of approximately $66,491,000 and net unrealized depreciation of approximately $592,000. Does not include open foreign currency forward exchange contracts with net unrealized appreciation of approximately $129,000. Also does not include open swap agreements with net unrealized appreciation of approximately $46,000. |

---

Morgan Stanley Emerging Markets Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Notes to the 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 the Adviser and/or the Sub-Adviser 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) an equity portfolio security listed or traded on an exchange is valued at its latest reported sales price (or at the exchange official closing price if such exchange reports an official closing price), and if there were no sales on a given day and if there is no official exchange closing price for that day, the security is valued at the mean between the last reported bid and asked prices if such bid and asked prices are available on the relevant exchanges. If only bid prices are available then the latest bid price may be used. Listed equity securities not traded on the valuation date with no reported bid and asked prices available on the exchange are valued at the mean between the current bid and asked prices obtained from one or more reputable brokers/dealers. In cases where a security is traded on more than one exchange, the security is valued on the exchange designated as the primary market; (3) 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; (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 ("NAV") as 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 Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Notes to the 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:

&nbsp;&nbsp;&nbsp;&nbsp;· 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 Debt Fund, Inc.

First Quarter Report - March 31, 2026 (unaudited)

Notes to the Portfolio of Investments (cont'd)

The following is a summary of the inputs used to value the Fund's investments as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Unadjusted<br>quoted<br>prices<br>(000)** | **Level 2<br>Other<br>Significant<br>observable<br>inputs<br>(000)** | **Level 3<br>Significant<br>unobservable<br>inputs<br>(000)** | **Total<br>(000)** |
| **Assets:** |  |  |  |  |
| **Fixed Income Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | $— | $29938 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $29938 |
| &nbsp;&nbsp;&nbsp;Senior Loan Interests |  | 10216 |  | 10216 |
| &nbsp;&nbsp;&nbsp;Sovereign |  | 111096 |  | 111096 |
| **Total Fixed Income Securities** | **—** | **151250** | **—** | **151250** |
| **Common Stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Real Estate Management & Development |  | 10 |  | 10 |
| **Warrants** |  | 12 |  | 12 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Security |  | 680 |  | 680 |
| &nbsp;&nbsp;&nbsp;Investment Company | 8629 |  |  | 8629 |
| **Total Short-Term Investments** | **8629** | **680** | **—** | **9309** |
| **Foreign Currency Forward Exchange Contracts** |  | 136 |  | 136 |
| **Futures Contracts** | 289 |  |  | 289 |
| **Credit Default Swap Agreements** |  | 46 |  | 46 |
| **Total Assets** | **8918** | **152134** | **—** | **161052** |
| **Liabilities:** |  |  |  |  |
| **Foreign Currency Forward Exchange Contracts** |  | (7) |  | (7) |
| **Futures Contracts** | (881) |  |  | (881) |
| **Total Liabilities** | **(881)** | **(7)** | **—** | **(888)** |
| **Total** | $**8037** | $**152127** | $**—** | $**160164** |

---

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

## 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 DEBT FUND INC

- **b. Investment Company Act file number:** 811-07694

- **c. CIK number of Registrant:** 0000904112

- **d. LEI of Registrant:** 879N34XPZOOCKFD26737

- **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 DEBT FUND INC

- **c. LEI of Series:** 879N34XPZOOCKFD26737

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $163840138.16

**Total Liabilities:** $7304103.67

**Net Assets:** $156536034.49

**Delayed Delivery Securities:** $572781.03

**Cash Not Reported:** $2488100.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -80.92000000 | **1-Year:** -1681.18000000 | **5-Year:** -9439.95000000 | **10-Year:** -14953.92000000 | **30-Year:** -3187.82000000

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

- **3-Month:** -197.76000000 | **1-Year:** -5895.98000000 | **5-Year:** -20671.89000000 | **10-Year:** -14548.59000000 | **30-Year:** -3611.65000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 3.79%                | 0.78%                | -7.48%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1687876.36              | $1017515.38                                |
| Month 2  | $694531.23               | $-524117.24                                |
| Month 3  | $281124.85               | $-5888572.86                               |

**Designated Index Information**

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

- **Index Identifier:** JPMEMBGDI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABRA GLOBAL FINANCE                               | ABRA Global Finance                                                                                                                    | CUSIP: 000852AC7<br>LEI: 2549007QS3P0D4KT9G26 | Long             | DBT              | CORP              | KY        |    416266 | PA      | $394765.86    | 0.25%             | 2029-10-22      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                             | Alibaba Group Holding Ltd                                                                                                              | CUSIP: 01609WBG6<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    183000 | PA      | $254141.25    | 0.16%             | 2031-06-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                                      | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    576000 | PA      | $482976.00    | 0.31%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                                      | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   1000000 | PA      | $722500.00    | 0.46%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                                      | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    300000 | PA      | $226200.00    | 0.14%             | 2038-01-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                                      | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    300000 | PA      | $200400.00    | 0.13%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds                                                                                      | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    140000 | PA      | $123067.00    | 0.08%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| AUNA SA                                           | Auna SA                                                                                                                                | CUSIP: 05151AAA1<br>LEI: 254900SOGP7YC0N9I368 | Long             | DBT              | CORP              | LU        |    731000 | PA      | $759428.59    | 0.49%             | 2029-12-18      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                               | Avianca Midco 2 PLC                                                                                                                    | CUSIP: 05369YAA7<br>LEI: 213800AMPX5VKH9AMX10 | Long             | DBT              | CORP              | GB        |    304000 | PA      | $284586.56    | 0.18%             | 2030-02-14      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                               | Avianca Midco 2 PLC                                                                                                                    | CUSIP: 05369YAC3<br>LEI: 213800AMPX5VKH9AMX10 | Long             | DBT              | CORP              | GB        |    348503 | PA      | $338047.91    | 0.22%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                               | Avianca Midco 2 PLC                                                                                                                    | CUSIP: 05369YAD1<br>LEI: 213800AMPX5VKH9AMX10 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $184000.00    | 0.12%             | 2031-01-28      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                          | Azule Energy Finance Plc                                                                                                               | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    895000 | PA      | $907330.29    | 0.58%             | 2030-01-23      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                          | Azule Energy Finance Plc                                                                                                               | CUSIP: 05501YAC2<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201907.29    | 0.13%             | 2033-01-22      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| BANCO MACRO SA                                    | Banco Macro SA                                                                                                                         | CUSIP: 05963GAK4<br>LEI: 579100KKDKKIFEBKK040 | Long             | DBT              | CORP              | AR        |    508000 | PA      | $518312.40    | 0.33%             | 2029-06-23      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BANCO LATINOAMERICANO SA                          | Banco Latinoamericano de Comercio Exterior SA                                                                                          | CUSIP: 05968CAD4<br>LEI: 549300CN3134K4LC0651 | Long             | DBT              | NUSS              | PA        |    205000 | PA      | $209459.78    | 0.13%             | 2032-09-17      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                          | Banco Mercantil del Norte SA/Grand Cayman                                                                                              | CUSIP: 05971PAD0<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    217000 | PA      | $223238.75    | 0.14%             | 2031-05-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds              | Chile Government International Bonds                                                                                                   | CUSIP: 168863DL9<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   1100000 | PA      | $789085.00    | 0.50%             | 2050-01-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds              | Chile Government International Bonds                                                                                                   | CUSIP: 168863DT2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   2200000 | PA      | $1877480.00   | 1.20%             | 2033-07-27      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds              | Chile Government International Bonds                                                                                                   | CUSIP: 168863DZ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   1500000 | PA      | $1485465.00   | 0.95%             | 2036-01-05      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds           | Colombia Government International Bonds                                                                                                | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    550000 | PA      | $470283.00    | 0.30%             | 2031-04-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds           | Colombia Government International Bonds                                                                                                | CUSIP: 195325DT9<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    510000 | PA      | $311100.00    | 0.20%             | 2051-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds           | Colombia Government International Bonds                                                                                                | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    610000 | PA      | $624609.50    | 0.40%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                          | Digicel International Finance Ltd / Difl US LLC                                                                                        | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    390000 | PA      | $397127.64    | 0.25%             | 2032-08-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                                                                                  | CUSIP: 25714PCF3<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    200000 | PA      | $208760.00    | 0.13%             | 2044-04-30      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                                                                                  | CUSIP: 25714PCW6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    300000 | PA      | $293535.00    | 0.19%             | 2045-01-27      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |         1 | NC      | $-1500.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $7980.30      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $12664.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $10364.30     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |         1 | NC      | $-556.89      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |         1 | NC      | $-1960.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $5174.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $2629.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $43277.08     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $58.75        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |         1 | NC      | $-161.78      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $5377.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $11862.43     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |         1 | NC      | $13551.72     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                     | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $6739.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | XX        |         1 | NC      | $-305.76      | -0.00%            |  |  |  | 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      | $-275.93      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                            | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $116.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |         1 | NC      | $-607.95      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | XX        |         1 | NC      | $1141.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                | PURCHASED USD / SOLD EUR                                                                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $-1138.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |         1 | NC      | $544.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                       | PURCHASED EUR / SOLD USD                                                                                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |         1 | NC      | $13770.88     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ECOBANK TRANSNATIONAL                             | Ecobank Transnational Inc                                                                                                              | CUSIP: 27889PAC7<br>LEI: 213800USCE9Y111R4656 | Long             | DBT              | CORP              | TG        |    528000 | PA      | $569643.97    | 0.36%             | 2029-10-15      | Fixed         | 10.13%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                           | El Salvador Government International Bond                                                                                              | CUSIP: 283875CG5<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    229000 | PA      | $243472.80    | 0.16%             | 2054-11-21      | Fixed         | 9.65%                 | No            |                  2 | On Loan: No      |
| ELDORADO INTL FIN GMBH                            | Eldorado Intl. Finance GmbH                                                                                                            | CUSIP: 284697AC3<br>LEI: 2549002HQE45WFK9EY03 | Long             | DBT              | CORP              | AT        |    585000 | PA      | $589861.35    | 0.38%             | 2032-12-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| EMP DIST ELEC MENDOZA SA                          | Empresa Distribuidora de Electricidad de Mendoza SA                                                                                    | CUSIP: 29245HAG1<br>LEI: 254900L7KLS0HQJ56Y35 | Long             | DBT              | CORP              | AR        |    670000 | PA      | $647387.50    | 0.41%             | 2031-07-28      | Variable      | 9.75%                 | No            |                  2 | On Loan: No      |
| Export-Import Bank of India                       | Export-Import Bank of India                                                                                                            | CUSIP: 30216KAC6<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |    500000 | PA      | $494177.86    | 0.32%             | 2028-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| FS LUXEMBOURG SARL                                | FS Luxembourg Sarl                                                                                                                     | CUSIP: 30315XAE4<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |    704000 | PA      | $647468.80    | 0.41%             | 2036-02-11      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| FORTEBANK JSC                                     | ForteBank JSC                                                                                                                          | CUSIP: 34955XAB7<br>LEI: 529900TH5WJ6KE8N8Z35 | Long             | DBT              | CORP              | KZ        |    217000 | PA      | $217569.41    | 0.14%             | 2030-02-04      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GOL FINANCE                                       | Gol Finance Inc                                                                                                                        | CUSIP: 36254VAN8<br>LEI: 549300FRXVB8W0960Y03 | Long             | DBT              | CORP              | KY        |    839000 | PA      | $745661.25    | 0.48%             | 2030-06-06      | Fixed         | 14.38%                | No            |                  2 | On Loan: No      |
| GENER MEDIT/CENT TERMICA                          | Generacion Mediterranea SA / Central Termica Roca SA                                                                                   | CUSIP: 36875KAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | AR        |    426420 | PA      | $291244.86    | 0.19%             | 2031-11-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| GRUPO AEROMEXICO SAB                              | Grupo Aeromexico SAB de CV                                                                                                             | CUSIP: 40054JAD1<br>LEI: 529900BECKHBL62WD126 | Long             | DBT              | CORP              | MX        |    413000 | PA      | $397512.50    | 0.25%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| H WORLD GROUP LTD                                 | H World Group Ltd                                                                                                                      | CUSIP: 44332NAB2<br>LEI: 549300Y5ML31FVN83730 | Long             | DBT              | CORP              | KY        |    140000 | PA      | $188370.00    | 0.12%             | 2026-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INVERSIONES Y REPRESENTA                          | IRSA Inversiones y Representaciones SA                                                                                                 | CUSIP: 450047AJ4<br>LEI: 549300QJINFBX83IZ837 | Long             | DBT              | CORP              | AR        |    302711 | PA      | $308386.83    | 0.20%             | 2035-03-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | N/A              | DE               |  | VE        |      5450 | NS      | $12262.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LIMAK YENILENEBILIR                               | Limak Yenilenebilir Enerji AS                                                                                                          | CUSIP: 53263MAA0<br>LEI: 789000WFO2FHRONHFN18 | Long             | DBT              | CORP              | TR        |    257000 | PA      | $249648.04    | 0.16%             | 2030-08-12      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                | Mongolia Government International Bond                                                                                                 | CUSIP: 60937LAL9<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    200000 | PA      | $197053.00    | 0.13%             | 2032-03-09      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                | Morocco Government International Bond                                                                                                  | CUSIP: 617726AM6<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    400000 | PA      | $275379.73    | 0.18%             | 2050-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NCB FINANCIAL GROUP                               | NCB Financial Group Ltd                                                                                                                | CUSIP: 639935AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | JM        |    620000 | PA      | $650070.00    | 0.42%             | 2030-07-31      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CONSTELLATION OIL SA                              | Constellation Oil Services Holding SA                                                                                                  | CUSIP: 650921AA7<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |    615000 | PA      | $640153.50    | 0.41%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| OI S.A.                                           | OI S.A.                                                                                                                                | CUSIP: 67117EAE8<br>LEI: 254900YEMWCRRAGD4978 | Long             | DBT              | CORP              | BR        |    497116 | PA      | $241101.26    | 0.15%             | 2027-06-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OCEANICA LUX                                      | Oceanica Lux                                                                                                                           | CUSIP: 67525AAA0<br>LEI: 635400VU48WVABC1TO64 | Long             | DBT              | CORP              | LU        |    540000 | PA      | $569061.90    | 0.36%             | 2029-10-02      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| OHI GROUP SA                                      | OHI Group SA                                                                                                                           | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |   1254000 | PA      | $1256555.16   | 0.80%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Panama Government International Bonds             | Panama Government International Bonds                                                                                                  | CUSIP: 698299BK9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1000000 | PA      | $935900.00    | 0.60%             | 2030-01-23      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds             | Panama Government International Bonds                                                                                                  | CUSIP: 698299BT0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1110000 | PA      | $1154755.20   | 0.74%             | 2035-02-14      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                                | Panama Government International Bond                                                                                                   | CUSIP: 698299CC6<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    990000 | PA      | $952231.50    | 0.61%             | 2038-02-23      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                                                                                    | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    800000 | PA      | $746167.44    | 0.48%             | 2035-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds               | Peru Government International Bonds                                                                                                    | CUSIP: 715638DS8<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    500000 | PA      | $377950.00    | 0.24%             | 2041-03-11      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds               | Peru Government International Bonds                                                                                                    | CUSIP: 715638DU3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1800000 | PA      | $1539630.00   | 0.98%             | 2034-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds               | Peru Government International Bonds                                                                                                    | CUSIP: 715638EC2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    400000 | PA      | $386600.00    | 0.25%             | 2054-08-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                                                                                    | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    700000 | PA      | $685657.20    | 0.44%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                                                                                    | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    685000 | PA      | $547140.50    | 0.35%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                                                                                    | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    300000 | PA      | $259986.81    | 0.17%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                                                                                    | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    840000 | PA      | $803752.34    | 0.51%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Philippines Government International Bonds        | Philippines Government International Bonds                                                                                             | CUSIP: 718286CW5<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1500000 | PA      | $1491452.31   | 0.95%             | 2033-07-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philippines Government International Bonds        | Philippines Government International Bonds                                                                                             | CUSIP: 718286CX3<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    500000 | PA      | $480899.35    | 0.31%             | 2048-01-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Philippines Government International Bonds        | Philippines Government International Bonds                                                                                             | CUSIP: 718286DC8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1200000 | PA      | $1156098.70   | 0.74%             | 2035-03-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                              | Provincia de Cordoba                                                                                                                   | CUSIP: 74408DAF1<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    659000 | PA      | $675079.60    | 0.43%             | 2032-07-02      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                              | Raizen Fuels Finance SA                                                                                                                | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $111000.00    | 0.07%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Uruguay Government International Bonds            | Uruguay Government International Bonds                                                                                                 | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    500000 | PA      | $459950.00    | 0.29%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Uruguay Government International Bonds            | Uruguay Government International Bonds                                                                                                 | CUSIP: 760942BH4<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   1600000 | PA      | $1635440.00   | 1.04%             | 2037-02-14      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| SECURE INTERNATIONAL FIN                          | Secure International Finance Co Inc                                                                                                    | CUSIP: 81373LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | GY        |    160588 | PA      | $161391.17    | 0.10%             | 2029-06-03      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                          | Suriname Government International Bond                                                                                                 | CUSIP: 86886PAE2<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |    576000 | PA      | $583920.00    | 0.37%             | 2030-11-06      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                          | Suriname Government International Bond                                                                                                 | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |   1977000 | PA      | $2039977.34   | 1.30%             | 2035-11-06      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                                  | CUSIP: 91087BAS9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    560000 | PA      | $398804.00    | 0.25%             | 2052-02-12      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                                                                                  | CUSIP: 91087BAZ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    770000 | PA      | $766843.00    | 0.49%             | 2036-05-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                             | Mexico Government International Bond                                                                                                   | CUSIP: 91087BBE9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1200000 | PA      | $1205820.00   | 0.77%             | 2032-07-02      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bills                                                                                                                    | CUSIP: 912797UA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    685000 | PA      | $679803.22    | 0.43%             | 2026-06-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 922646AS3<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    841000 | PA      | $403680.00    | 0.26%             | 2027-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 922646AT1<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    153000 | PA      | $78412.50     | 0.05%             | 2018-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 922646BL7<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     75000 | PA      | $35250.00     | 0.02%             | 2034-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VISTA OIL & GAS ARGENTIN                          | Vista Energy Argentina SAU                                                                                                             | CUSIP: 92841RAB6<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |    263000 | PA      | $275282.10    | 0.18%             | 2033-06-10      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Lebanon Government International Bonds            | Lebanon Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   1250000 | PA      | $297762.50    | 0.19%             | 2027-03-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    373000 | PA      | $90533.45     | 0.06%             | 2037-03-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     95000 | PA      | $22681.25     | 0.01%             | 2024-12-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA SA TSA                     | PETROLEOS DE VENEZUELA SA TSA                                                                                                          | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | US        |    685500 | PA      | $808890.00    | 0.52%             | 2027-10-20      | None          | 0.00%                 | 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        |   8629516 | NS      | $8629515.54   | 5.51%             |  |  |  | No            |                  1 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                              | YPF SA                                                                                                                                 | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    177630 | PA      | $181385.13    | 0.12%             | 2034-01-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTIO                          | Yinson Boronia Production BV                                                                                                           | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |    195263 | PA      | $213137.33    | 0.14%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                   | Long: S92XVTUE9 CDS USD R F  1.00000 II8079650240208 CCPSOVEREIGN / Short: S92XVTUE9 CDS USD P V 03MEVENT II6778370240208 CCPSOVEREIGN | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    303000 | OU      | $-18901.72    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | Long: BMID8BJE1 CDS USD R F  1.00000 II5385540240320 CORPORATE / Short: BMID8BJE1 CDS USD P V 03MEVENT II4425180240320 CORPORATE       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | GB        |    100000 | OU      | $-1152.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | Long: BMID8JKP7 CDS USD R F  1.00000 II5643250240322 CORPORATE / Short: BMID8JKP7 CDS USD P V 03MEVENT II4514500240322 CORPORATE       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | GB        |    100000 | OU      | $-1152.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | Long: BMIES8NP4 CDS USD R F  1.00000 II2131630250411 CORPORATE / Short: BMIES8NP4 CDS USD P V 03MEVENT II9006010250411 CORPORATE       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | GB        |    370000 | OU      | $-802.48      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                       | Long: BMIF9NA65 CDS USD R F  1.00000 II7694360250801 CORPORATE / Short: BMIF9NA65 CDS USD P V 03MEVENT II0610150250801 CORPORATE       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | GB        |   1030000 | OU      | $-14647.29    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                            | Long: BMIFA9JR9 CDS USD R F  1.00000 II4248790250806 CORPORATE / Short: BMIFA9JR9 CDS USD P V 03MEVENT II6470560250806 CORPORATE       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | GB        |    456000 | OU      | $-6484.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | Long: BMIFBP1Y6 CDS USD R F  1.00000 II6423820250814 CORPORATE / Short: BMIFBP1Y6 CDS USD P V 03MEVENT II6429810250814 CORPORATE       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | GB        |    914286 | OU      | $-6766.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | Long: BMIFBP3M0 CDS USD R F  1.00000 II5952610250814 CORPORATE / Short: BMIFBP3M0 CDS USD P V 03MEVENT II2690750250814 CORPORATE       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | GB        |    685714 | OU      | $-9751.31     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | Long: BMIFC2P38 CDS USD R F  1.00000 II7608790250818 CORPORATE / Short: BMIFC2P38 CDS USD P V 03MEVENT II4384480250818 CORPORATE       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | GB        |    150000 | OU      | $-2133.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                 | Long: BMIG0YX89 CDS USD R V 03MEVENT II4516700260106 SOVEREIGN / Short: BMIG0YX89 CDS USD P F  5.00000 II2037650260106 SOVEREIGN       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | GB        |     57000 | OU      | $-1248.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                   | Long: B92XV29H5 CDS USD R V 03MEVENT II1140120260323 CCPCORPORATE / Short: B92XV29H5 CDS USD P F  1.00000 II1883570260323 CCPCORPORATE | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   2896000 | OU      | $63042.97     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    186000 | PA      | $44393.55     | 0.03%             | 2025-06-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    135000 | PA      | $32352.75     | 0.02%             | 2020-06-19      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    111000 | PA      | $27303.78     | 0.02%             | 2035-11-02      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    928000 | PA      | $225906.95    | 0.14%             | 2031-04-22      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     60000 | PA      | $14704.80     | 0.01%             | 2032-03-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |   1951999 | PA      | $591065.30    | 0.38%             | 2022-10-28      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    207000 | PA      | $168963.87    | 0.11%             | 2048-02-21      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                            | Egypt Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    600000 | PA      | $650712.48    | 0.42%             | 2030-04-16      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    111000 | PA      | $26602.32     | 0.02%             | 2033-05-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    397000 | PA      | $346481.75    | 0.22%             | 2049-04-03      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                            | Egypt Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    900000 | PA      | $980784.14    | 0.63%             | 2031-04-11      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bonds               | Oman Government International Bonds                                                                                                    | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    300000 | PA      | $308900.54    | 0.20%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| LONGFOR HOLDINGS LTD                              | Longfor Group Holdings Ltd                                                                                                             | CUSIP: 000000000<br>LEI: 254900UJX27B2F1JYR13 | Long             | DBT              | CORP              | KY        |    572000 | PA      | $453562.65    | 0.29%             | 2029-09-16      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| MHP LUX SA                                        | MHP Lux SA                                                                                                                             | CUSIP: 000000000<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |    243000 | PA      | $218803.28    | 0.14%             | 2029-09-19      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Angola Government International Bonds             | Angola Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    500000 | PA      | $495093.62    | 0.32%             | 2029-11-26      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Angola Government International Bonds             | Angola Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    450000 | PA      | $392436.54    | 0.25%             | 2049-11-26      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     73000 | PA      | $51464.22     | 0.03%             | 2050-01-28      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GABON                                 | Gabon Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |    502000 | PA      | $420493.88    | 0.27%             | 2031-02-06      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    418000 | PA      | $101427.70    | 0.06%             | 2028-03-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    401000 | PA      | $354268.03    | 0.23%             | 2050-05-29      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Jordan Government International Bonds             | Jordan Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |   1006000 | PA      | $992136.51    | 0.63%             | 2030-07-07      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Ecuador Government International Bonds            | Ecuador Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    437371 | PA      | $386277.32    | 0.25%             | 2035-07-31      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| Ecuador Government International Bonds            | Ecuador Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    300000 | PA      | $235500.00    | 0.15%             | 2040-07-31      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                               | Ecuador Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    540000 | PA      | $449415.17    | 0.29%             | 2030-07-31      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| KERNEL HOLDING SA                                 | Kernel Holding SA                                                                                                                      | CUSIP: 000000000<br>LEI: 5493003GR6L4DZOS2U12 | Long             | DBT              | CORP              | LU        |    613000 | PA      | $594016.65    | 0.38%             | 2027-10-27      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bonds               | Oman Government International Bonds                                                                                                    | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    900000 | PA      | $1003235.38   | 0.64%             | 2032-10-28      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Serbia International Bonds                        | Serbia International Bonds                                                                                                             | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    300000 | PA      | $259595.62    | 0.17%             | 2030-12-01      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| Morocco Government International Bonds            | Morocco Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    500000 | PA      | $430054.96    | 0.27%             | 2032-12-15      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                               | Benin Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    150000 | PA      | $163710.02    | 0.10%             | 2032-01-19      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bonds               | Oman Government International Bonds                                                                                                    | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |   1400000 | PA      | $1460974.93   | 0.93%             | 2031-01-25      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $184517.44    | 0.12%             | 2031-02-16      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Pakistan Government International Bonds           | Pakistan Government International Bonds                                                                                                | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    728000 | PA      | $674751.42    | 0.43%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    118000 | PA      | $107668.23    | 0.07%             | 2033-04-14      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| LIMAK ISKENDERUN                                  | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS                                                                                   | CUSIP: 000000000<br>LEI: 5299001DUZ9PI7TCRC47 | Long             | DBT              | CORP              | TR        |    278551 | PA      | $274603.81    | 0.18%             | 2036-07-10      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    148000 | PA      | $151401.53    | 0.10%             | 2030-07-13      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                               | Benin Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    300000 | PA      | $305818.97    | 0.20%             | 2035-01-22      | Fixed         | 4.95%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                                                                              | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    432000 | PA      | $379080.93    | 0.24%             | 2036-09-23      | Fixed         | 2.05%                 | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   1899000 | PA      | $1669963.47   | 1.07%             | 2051-09-30      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    300000 | PA      | $279797.64    | 0.18%             | 2033-09-30      | Fixed         | 7.30%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ALBANIA                               | Albania Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    100000 | PA      | $111788.72    | 0.07%             | 2031-11-23      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Nigeria Government International Bonds            | Nigeria Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    400000 | PA      | $420753.14    | 0.27%             | 2029-03-24      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Angola Government International Bonds             | Angola Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    200000 | PA      | $194463.58    | 0.12%             | 2032-04-14      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Hungary Government International Bonds            | Hungary Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    500000 | PA      | $494911.07    | 0.32%             | 2034-06-16      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Hungary Government International Bonds            | Hungary Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    600000 | PA      | $602158.75    | 0.38%             | 2029-06-16      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| KWG GROUP HOLDINGS                                | KWG Group Holdings Ltd                                                                                                                 | CUSIP: 000000000<br>LEI: 549300LK82ZOM9ZE7H90 | Long             | DBT              | CORP              | KY        |    653783 | PA      | $34630.89     | 0.02%             | 2024-08-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hungary Government International Bonds            | Hungary Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1200000 | PA      | $1252186.84   | 0.80%             | 2032-09-22      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Hungary Government International Bonds            | Hungary Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1100000 | PA      | $1073409.46   | 0.69%             | 2036-03-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Ivory Coast Government International Bonds        | Ivory Coast Government International Bonds                                                                                             | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1001000 | PA      | $1029603.32   | 0.66%             | 2037-01-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                               | Benin Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    500000 | PA      | $491482.32    | 0.31%             | 2038-02-13      | Fixed         | 7.96%                 | Yes           |                  2 | On Loan: No      |
| AKBANK TAS                                        | Akbank TAS                                                                                                                             | CUSIP: 000000000<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $201135.30    | 0.13%             | 2029-03-14      | Fixed         | 9.37%                 | Yes           |                  2 | On Loan: No      |
| BANK OF GEORGIA JSC                               | Bank of Georgia JSC                                                                                                                    | CUSIP: 000000000<br>LEI: 549300RPLD8RXL49Z691 | Long             | DBT              | CORP              | GE        |    830000 | PA      | $866261.57    | 0.55%             | 2029-07-16      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| TBC BANK JSC                                      | TBC Bank JSC                                                                                                                           | CUSIP: 000000000<br>LEI: 2138001MSA39Q44QTA18 | Long             | DBT              | CORP              | GE        |    830000 | PA      | $883563.22    | 0.56%             | 2029-07-30      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| BANCO DE OCCIDENTE SA                             | Banco de Occidente SA                                                                                                                  | CUSIP: 000000000<br>LEI: 54930072MY36044H8N63 | Long             | DBT              | CORP              | CO        |    518000 | PA      | $579849.20    | 0.37%             | 2034-08-13      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    353000 | PA      | $385400.07    | 0.25%             | 2037-05-30      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                              | Republic of Uzbekistan International Bond                                                                                              | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |   1000000 | PA      | $1045291.12   | 0.67%             | 2032-02-28      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| VEON MIDCO BV                                     | Veon Midco BV                                                                                                                          | CUSIP: 000000000<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |    430000 | PA      | $408218.48    | 0.26%             | 2027-11-25      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Zambia Government International Bonds             | Zambia Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    202219 | PA      | $189915.96    | 0.12%             | 2033-06-30      | Variable      | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Zambia Government International Bonds             | Zambia Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    880000 | PA      | $581391.58    | 0.37%             | 2053-12-31      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                          | Uzbek Industrial and Construction Bank ATB                                                                                             | CUSIP: 000000000<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    293000 | PA      | $310603.44    | 0.20%             | 2029-07-24      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    474000 | PA      | $335020.85    | 0.21%             | 2029-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    200000 | PA      | $93352.49     | 0.06%             | 2035-02-01      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     41850 | PA      | $24613.22     | 0.02%             | 2030-02-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Bulgaria Government International Bonds           | Bulgaria Government International Bonds                                                                                                | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |    280000 | PA      | $270774.74    | 0.17%             | 2037-03-05      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   1163000 | PA      | $622720.45    | 0.40%             | 2034-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    363000 | PA      | $169466.27    | 0.11%             | 2036-02-01      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    400000 | PA      | $171988.07    | 0.11%             | 2034-02-01      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |   1192042 | PA      | $627960.22    | 0.40%             | 2035-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bonds            | Ukraine Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    683311 | PA      | $353245.51    | 0.23%             | 2036-02-01      | Variable      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Romania Government International Bonds            | Romania Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   2074000 | PA      | $1965678.22   | 1.26%             | 2035-03-24      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Ghana Government International Bonds              | Ghana Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    900000 | PA      | $769884.29    | 0.49%             | 2035-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ghana Government International Bonds              | Ghana Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    311500 | PA      | $297778.68    | 0.19%             | 2029-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ghana Government International Bonds              | Ghana Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     37270 | PA      | $36639.40     | 0.02%             | 2026-07-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ECOBANK TRANSNATIONAL                             | Ecobank Transnational Inc                                                                                                              | CUSIP: 000000000<br>LEI: 213800USCE9Y111R4656 | Long             | DBT              | CORP              | TG        |    259000 | PA      | $279427.63    | 0.18%             | 2029-10-15      | Fixed         | 10.13%                | Yes           |                  2 | On Loan: No      |
| POLARIS RENEWABLE ENERGY                          | Polaris Renewable Energy Inc                                                                                                           | CUSIP: 000000000<br>LEI: 254900IRAKXV4MM4QF30 | Long             | DBT              | CORP              | CA        |    375000 | PA      | $388125.00    | 0.25%             | 2029-12-03      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bonds            | Nigeria Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1716000 | PA      | $1968812.69   | 1.26%             | 2034-12-09      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                             | Sri Lanka Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    104000 | PA      | $87056.32     | 0.06%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                             | Sri Lanka Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    318000 | PA      | $281744.38    | 0.18%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Sri Lanka Government International Bonds          | Sri Lanka Government International Bonds                                                                                               | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    200000 | PA      | $177197.72    | 0.11%             | 2038-02-15      | Variable      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                             | Sri Lanka Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    320000 | PA      | $294407.16    | 0.19%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                             | Sri Lanka Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    280000 | PA      | $250322.00    | 0.16%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                             | Sri Lanka Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    306600 | PA      | $293120.17    | 0.19%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                             | Sri Lanka Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     56000 | PA      | $42421.85     | 0.03%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                          | Azule Energy Finance Plc                                                                                                               | CUSIP: 000000000<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    238000 | PA      | $241278.89    | 0.15%             | 2030-01-23      | Fixed         | 8.13%                 | Yes           |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                               | Benin Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    200000 | PA      | $197739.46    | 0.13%             | 2041-01-23      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| OTP BANK NYRT                                     | OTP Bank Nyrt                                                                                                                          | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | DBT              | CORP              | HU        |    305000 | PA      | $314457.05    | 0.20%             | 2035-07-30      | Fixed         | 7.30%                 | Yes           |                  2 | On Loan: No      |
| FORTEBANK JSC                                     | ForteBank JSC                                                                                                                          | CUSIP: 000000000<br>LEI: 529900TH5WJ6KE8N8Z35 | Long             | DBT              | CORP              | KZ        |    429000 | PA      | $430125.70    | 0.27%             | 2030-02-04      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    207000 | PA      | $214287.66    | 0.14%             | 2030-02-04      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| Romania Government International Bonds            | Romania Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    800000 | PA      | $846731.11    | 0.54%             | 2037-02-10      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GABON                                 | Gabon Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |    213000 | PA      | $200337.50    | 0.13%             | 2029-02-18      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ALBANIA                               | Albania Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    750000 | PA      | $851168.61    | 0.54%             | 2035-02-14      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kenya Government International Bonds  | Republic of Kenya Government International Bonds                                                                                       | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    900000 | PA      | $883027.33    | 0.56%             | 2036-03-05      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ARMENIA                               | Republic of Armenia International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    200000 | PA      | $203352.35    | 0.13%             | 2035-03-12      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                            | Montenegro Government International Bond                                                                                               | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |   1550000 | PA      | $1780620.51   | 1.14%             | 2032-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Romanian Government International Bonds           | Romanian Government International Bonds                                                                                                | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    288000 | PA      | $337992.09    | 0.22%             | 2032-07-11      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MONGOLIAN MINING CORP                             | Mongolian Mining Corp                                                                                                                  | CUSIP: 000000000<br>LEI: 254900XQ2EY5O3SAYL47 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199257.04    | 0.13%             | 2030-04-03      | Fixed         | 8.44%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    393000 | PA      | $454098.58    | 0.29%             | 2039-07-11      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUNGARY                                           | Hungary Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    400000 | PA      | $403281.17    | 0.26%             | 2030-09-26      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| RIYAD SUKUK                                       | Riyad Sukuk Ltd                                                                                                                        | CUSIP: 000000000<br>LEI: 549300P8GI2KKEMZUH97 | Long             | DBT              | CORP              | KY        |    390000 | PA      | $387770.64    | 0.25%             | 2035-07-14      | Fixed         | 6.21%                 | Yes           |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                          | Shimao Group Holdings Ltd                                                                                                              | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    294515 | PA      | $7362.88      | 0.00%             | 2033-07-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                          | Shimao Group Holdings Ltd                                                                                                              | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    294515 | PA      | $6279.06      | 0.00%             | 2034-01-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                          | Shimao Group Holdings Ltd                                                                                                              | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |   1088550 | PA      | $40820.63     | 0.03%             | 2031-07-21      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT                          | Shimao Group Holdings Ltd                                                                                                              | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    196343 | PA      | $5890.29      | 0.00%             | 2032-07-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SAUDI AWWAL BANK                                  | Saudi Awwal Bank                                                                                                                       | CUSIP: 000000000<br>LEI: 558600TQS0WENZUC5190 | Long             | DBT              | CORP              | SA        |    400000 | PA      | $391766.71    | 0.25%             | 2035-09-04      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| STATE BANK JSC                                    | State Bank JSC                                                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MN        |    410000 | PA      | $397991.38    | 0.25%             | 2028-09-25      | Fixed         | 8.90%                 | Yes           |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    613000 | PA      | $688784.62    | 0.44%             | 2037-10-07      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                 | Republic of Kenya Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    410000 | PA      | $380965.78    | 0.24%             | 2033-10-09      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                 | Republic of Kenya Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    208000 | PA      | $191570.87    | 0.12%             | 2038-10-09      | Fixed         | 8.80%                 | Yes           |                  2 | On Loan: No      |
| PIRAEUS BANK SA                                   | Piraeus Bank SA                                                                                                                        | CUSIP: 000000000<br>LEI: 213800OYHR1MPQ5VJL60 | Long             | DBT              | CORP              | GR        |    200000 | PA      | $219285.33    | 0.14%             | 2032-10-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                | Angolan Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1696000 | PA      | $1703909.62   | 1.09%             | 2035-10-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                | Angolan Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    790000 | PA      | $800458.13    | 0.51%             | 2031-01-15      | Fixed         | 9.24%                 | Yes           |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                          | Uzbek Industrial and Construction Bank ATB                                                                                             | CUSIP: 000000000<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    400000 | PA      | $401908.34    | 0.26%             | 2030-10-23      | Fixed         | 9.45%                 | Yes           |                  2 | On Loan: No      |
| FORTEBANK JSC                                     | ForteBank JSC                                                                                                                          | CUSIP: 000000000<br>LEI: 529900TH5WJ6KE8N8Z35 | Long             | DBT              | CORP              | KZ        |    538000 | PA      | $533231.44    | 0.34%             | 2030-11-03      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                              | Times China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |    209483 | PA      | $8012.72      | 0.01%             | 2029-03-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                              | Times China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |    781445 | PA      | $24420.16     | 0.02%             | 2032-09-30      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                              | Times China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |    935455 | PA      | $7324.61      | 0.00%             | 2027-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                              | Times China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |    186180 | PA      | $2327.25      | 0.00%             | 2027-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                          | Sunac China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |    459546 | PA      | $113737.64    | 0.07%             | 2028-06-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD                          | Sunac China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |    621932 | PA      | $92512.39     | 0.06%             | 2026-06-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                | Ukraine Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    500000 | PA      | $361656.41    | 0.23%             | 2032-02-01      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ARDSHININVESTBK (DILIJAN                          | Ardshinbank CJSC Via Dilijan Finance BV                                                                                                | CUSIP: 000000000<br>LEI: 549300DCGXFXAP2FEV07 | Long             | DBT              | CORP              | NL        |    276000 | PA      | $272271.08    | 0.17%             | 2031-01-22      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| MHP LUX SA                                        | MHP Lux SA                                                                                                                             | CUSIP: 000000000<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $201666.00    | 0.13%             | 2029-07-28      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GEORGIA                               | Georgia Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 2138007T8RLEVDMLQ257 | Long             | DBT              | NUSS              | GE        |    678000 | PA      | $651819.04    | 0.42%             | 2031-01-28      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| SONANGOL FINANCE LTD                              | Sonangol Finance Ltd                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | AO        |    452000 | PA      | $450756.95    | 0.29%             | 2031-01-29      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                               | Ecuador Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    500000 | PA      | $491250.00    | 0.31%             | 2039-01-29      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                               | Ecuador Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    500000 | PA      | $491250.00    | 0.31%             | 2034-01-29      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                 | Republic of Kenya Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    682000 | PA      | $620800.10    | 0.40%             | 2034-02-26      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                 | Republic of Kenya Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    200000 | PA      | $181516.77    | 0.12%             | 2039-02-26      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                | Angolan Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    880000 | PA      | $871666.48    | 0.56%             | 2033-03-31      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                | Angolan Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    880000 | PA      | $871854.35    | 0.56%             | 2037-03-31      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| REP SRPSKA INTL BOND                              | Republic of Srpska International Government Bond                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | BA        |    280000 | PA      | $325295.08    | 0.21%             | 2031-04-02      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BOBL FUTURE JUN26                                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -22 | NC      | $38640.07     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUND FUTURE JUN26                                                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -25 | NC      | $78308.85     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-SCHATZ FUT JUN26                                                                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -23 | NC      | $24590.71     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                 | EURO-BUXL 30Y BND JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -3 | NC      | $6102.89      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US LONG BOND(CBT) JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        88 | NC      | $-276586.65   | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US ULTRA BOND CBT JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       116 | NC      | $-380625.00   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR NOTE (CBT)JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -97 | NC      | $142515.66    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 5YR NOTE (CBT) JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        38 | NC      | $-42380.84    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 2YR NOTE (CBT) JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        46 | NC      | $-68281.29    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                            | US 10YR ULTRA FUT JUN26                                                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        77 | NC      | $-158609.38   | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Shimao Group Holdings Ltd                         | Shimao Group Holdings Ltd                                                                                                              | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | EC               | CORP              | KY        |    203608 | NS      | $4497.28      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tanzania                                          | Tanzania 2024 Term Loan A2                                                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | TZ        |   5600000 | PA      | $5530000.00   | 3.53%             | 2031-02-27      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| Frigorifico Concepcion SA                         | Frigorifico Concepcion SA Term Loan B                                                                                                  | CUSIP: 000000000<br>LEI: 529900Q6VZVL47QJCQ91 | Long             | LON              | CORP              | PY        |    505748 | PA      | $512069.85    | 0.33%             | 2026-12-08      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                     | HTA Group Ltd 2024 Term Loan Tranche A                                                                                                 | CUSIP: 000000000<br>LEI: 213800WEFU8O8X6EPU13 | Long             | LON              | CORP              | US        |    120000 | PA      | $120000.00    | 0.08%             | 2028-09-13      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                     | HTA Group Ltd 2024 Tranche C Term Loan                                                                                                 | CUSIP: 000000000<br>LEI: 213800WEFU8O8X6EPU13 | Long             | LON              | CORP              | US        |    760000 | PA      | $760000.00    | 0.49%             | 2028-09-13      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF THE BAHAMAS                       | Commonwealth of The Bahamas 2024 EUR Term Loan                                                                                         | CUSIP: 000000000<br>LEI: 549300W13SXC7EKNJC20 | Long             | LON              | CORP              | BS        |   1125000 | PA      | $1334920.32   | 0.85%             | 2028-11-24      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE NEUQUEN                              | Provincia De Neuquen Tranche A Term Loan                                                                                               | CUSIP: 000000000<br>LEI: 549300X5HUL4FRDNBN35 | Long             | LON              | CORP              | AR        |     94795 | PA      | $95742.83     | 0.06%             | 2027-05-28      | Floating      | 11.09%                | No            |                  2 | On Loan: No      |
| PROVINCIA DE NEUQUEN                              | Provincia De Neuquen Tranche B Term Loan                                                                                               | CUSIP: 000000000<br>LEI: 549300X5HUL4FRDNBN35 | Long             | LON              | CORP              | AR        |    120648 | PA      | $121854.68    | 0.08%             | 2027-05-28      | Floating      | 11.09%                | No            |                  2 | On Loan: No      |
| Staatsolie Maatschappij Suriname NV               | Staatsolie Maatschappij Suriname NV 2025 Term Loan                                                                                     | CUSIP: 000000000<br>LEI: 254900R015RJG4RZ5G47 | Long             | LON              | CORP              | SR        |    256566 | PA      | $259691.98    | 0.17%             | 2032-05-24      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| Staatsolie Maatschappij Suriname NV               | Staatsolie Maatschappij Suriname NV 2025 Revolver                                                                                      | CUSIP: 000000000<br>LEI: 254900R015RJG4RZ5G47 | Long             | LON              | CORP              | SR        |   2443434 | PA      | $2443433.77   | 1.56%             | 2032-04-26      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| VMOS SA                                           | VMOS SA TERM LOAN                                                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AR        |    540260 | PA      | $540260.00    | 0.35%             | 2030-07-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VMOS SA                                           | VMOS SA 1st Lien Term Loan                                                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AR        |    649740 | PA      | $654499.35    | 0.42%             | 2030-07-08      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| Romania Government International Bonds            | Romania Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     36000 | PA      | $28231.34     | 0.02%             | 2048-06-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Times China Holdings Ltd                          | Times China Holdings Ltd                                                                                                               | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | EC               | CORP              | KY        |    528816 | NS      | $5000.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                               | Benin Government International Bond                                                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    326000 | PA      | $324465.29    | 0.21%             | 2052-01-19      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| GOLAR LNG LTD                                     | Golar LNG Ltd                                                                                                                          | CUSIP: 000000000<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $204245.97    | 0.13%             | 2029-09-19      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                             | Alibaba Group Holding Ltd                                                                                                              | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    110000 | PA      | $106150.00    | 0.07%             | 2032-09-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CSN ISLANDS XI CORP                               | CSN Inova Ventures                                                                                                                     | CUSIP: 000000000<br>LEI: 222100R8R68DM7VM3661 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $293951.98    | 0.19%             | 2028-01-28      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Digicel International Finance Limited             | Digicel International Finance Limited 2025 Term Loan B                                                                                 | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |    257583 | PA      | $257904.98    | 0.16%             | 2032-08-06      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| LONGFOR HOLDINGS LTD                              | Longfor Group Holdings Ltd                                                                                                             | CUSIP: 000000000<br>LEI: 254900UJX27B2F1JYR13 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $178244.35    | 0.11%             | 2028-01-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Coral-US Co-Borrower, LLC                         | Coral-US Co-Borrower LLC 2025 Term Loan B7                                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    578482 | PA      | $569446.11    | 0.36%             | 2032-01-31      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| TULLOW OIL PLC                                    | Tullow Oil PLC                                                                                                                         | CUSIP: 000000000<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | CORP              | GB        |    378000 | PA      | $355163.13    | 0.23%             | 2026-05-15      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| FORESEA HOLDING SA                                | FORESEA Holding SA                                                                                                                     | CUSIP: 000000000<br>LEI: 254900BAD50AKYGIMV79 | Long             | DBT              | CORP              | LU        |    206000 | PA      | $202433.54    | 0.13%             | 2030-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CONSTELLATION OIL SA                              | Constellation Oil Services Holding SA                                                                                                  | CUSIP: 000000000<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |    229000 | PA      | $238366.10    | 0.15%             | 2029-11-07      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| OCEANICA LUX                                      | Oceanica Lux                                                                                                                           | CUSIP: 000000000<br>LEI: 635400VU48WVABC1TO64 | Long             | DBT              | CORP              | LU        |    287000 | PA      | $302445.86    | 0.19%             | 2029-10-02      | Fixed         | 13.00%                | Yes           |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                              | Raizen Fuels Finance SA                                                                                                                | CUSIP: 000000000<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    529000 | PA      | $290024.25    | 0.19%             | 2035-01-17      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                              | Raizen Fuels Finance SA                                                                                                                | CUSIP: 000000000<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    526000 | PA      | $284368.75    | 0.18%             | 2037-02-25      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| UNIGEL LUXEMBOURG SA                              | Unigel Luxembourg SA                                                                                                                   | CUSIP: 000000000<br>LEI: 213800Y16R77O7LH7X62 | Long             | DBT              | CORP              | LU        |     34165 | PA      | $2049.90      | 0.00%             | 2027-12-31      | Fixed         | 13.50%                | Yes           |                  2 | On Loan: No      |
| Egypt Government International Bonds              | Egypt Government International Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    800000 | PA      | $691705.54    | 0.44%             | 2047-01-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    222000 | PA      | $52874.85     | 0.03%             | 2027-11-29      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    721000 | PA      | $172917.43    | 0.11%             | 2049-01-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   1390000 | PA      | $329160.69    | 0.21%             | 2020-04-14      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    166000 | PA      | $39677.11     | 0.03%             | 2049-02-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     56000 | PA      | $13709.37     | 0.01%             | 2030-02-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bonds               | Oman Government International Bonds                                                                                                    | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    500000 | PA      | $502973.71    | 0.32%             | 2027-03-08      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Oman Government International Bonds               | Oman Government International Bonds                                                                                                    | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    500000 | PA      | $521023.33    | 0.33%             | 2048-01-17      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Iraq International Bonds                          | Iraq International Bonds                                                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |    102500 | PA      | $99845.85     | 0.06%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    143000 | PA      | $34253.86     | 0.02%             | 2024-11-04      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    113000 | PA      | $27141.47     | 0.02%             | 2028-11-03      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    162000 | PA      | $38880.00     | 0.02%             | 2022-05-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   2898000 | PA      | $694505.70    | 0.44%             | 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        |   1205000 | PA      | $289200.00    | 0.18%             | 2029-05-25      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     17000 | PA      | $4124.63      | 0.00%             | 2021-04-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     72000 | PA      | $17056.80     | 0.01%             | 2020-03-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |   1357000 | PA      | $323055.90    | 0.21%             | 2022-10-04      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    190000 | PA      | $45608.60     | 0.03%             | 2026-11-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                 | Lebanon Government International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    581000 | PA      | $138524.93    | 0.09%             | 2024-04-22      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                                                                         | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   1155000 | PA      | $538343.87    | 0.34%             | 2030-01-31      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                                                                         | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    518000 | PA      | $150116.40    | 0.10%             | 2081-01-23      | Fixed         | 12.06%                | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                           | El Salvador Government International Bond                                                                                              | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    450000 | PA      | $462546.00    | 0.30%             | 2032-04-10      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| El Salvador Government International Bonds        | El Salvador Government International Bonds                                                                                             | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    216000 | PA      | $211751.28    | 0.14%             | 2035-06-15      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| El Salvador Government International Bonds        | El Salvador Government International Bonds                                                                                             | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    212000 | PA      | $220785.28    | 0.14%             | 2030-04-17      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| BANCO DAVIVIENDA SA                               | Banco Davivienda SA                                                                                                                    | CUSIP: 000000000<br>LEI: 549300P161V4IPKAQS70 | Long             | DBT              | CORP              | CO        |    438000 | PA      | $387210.79    | 0.25%             | 2031-04-22      | Fixed         | 6.65%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    807300 | PA      | $365303.25    | 0.23%             | 2023-05-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     59400 | PA      | $27324.00     | 0.02%             | 2028-05-07      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |   1273300 | PA      | $646199.75    | 0.41%             | 2022-08-23      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    488900 | PA      | $251783.50    | 0.16%             | 2031-08-05      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    368200 | PA      | $190543.50    | 0.12%             | 2026-10-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BRASKEM IDESA SAPI                                | Braskem Idesa SAPI                                                                                                                     | CUSIP: 000000000<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |    309000 | PA      | $189057.02    | 0.12%             | 2032-02-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| FIDEIC IRR ADMIN 4323                             | Fideicomiso Irrevocable de Administracion y Fuente de Pago Numero CIB/4323                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    803980 | PA      | $351741.25    | 0.22%             | 2030-09-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic International Bonds            | Dominican Republic International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    200000 | PA      | $208760.00    | 0.13%             | 2044-04-30      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic International Bonds            | Dominican Republic International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    500000 | PA      | $489225.00    | 0.31%             | 2045-01-27      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic International Bonds            | Dominican Republic International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1000000 | PA      | $952800.00    | 0.61%             | 2030-01-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                                                                                  | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    700000 | PA      | $646730.00    | 0.41%             | 2032-09-23      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic International Bonds            | Dominican Republic International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    600000 | PA      | $511980.00    | 0.33%             | 2041-01-21      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Dominican Republic International Bonds            | Dominican Republic International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    200000 | PA      | $195440.00    | 0.12%             | 2033-02-22      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                             | Costa Rica Government International Bond                                                                                               | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |   1100000 | PA      | $1162540.50   | 0.74%             | 2034-04-03      | Fixed         | 6.55%                 | Yes           |                  2 | On Loan: No      |
| FRIGORIFICO CONCEPCION                            | Frigorifico Concepcion SA                                                                                                              | CUSIP: 000000000<br>LEI: 529900Q6VZVL47QJCQ91 | Long             | DBT              | CORP              | PY        |    229000 | PA      | $62402.50     | 0.04%             | 2028-07-21      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                             | Guatemala Government Bond                                                                                                              | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    700000 | PA      | $693700.00    | 0.44%             | 2032-04-24      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                             | Guatemala Government Bond                                                                                                              | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    400000 | PA      | $350550.00    | 0.22%             | 2033-10-07      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                             | Guatemala Government Bond                                                                                                              | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    500000 | PA      | $522750.00    | 0.33%             | 2037-02-06      | Fixed         | 6.55%                 | Yes           |                  2 | On Loan: No      |
| HONDURAS GOVERNMENT                               | Honduras Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: 5493002DW1JNBNG17615 | Long             | DBT              | NUSS              | HN        |    350000 | PA      | $393589.00    | 0.25%             | 2034-11-27      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |   1427400 | PA      | $477893.52    | 0.31%             | 2027-04-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |    822035 | PA      | $374436.94    | 0.24%             | 2022-02-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |   1045744 | PA      | $402611.44    | 0.26%             | 2021-11-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |   1320624 | PA      | $551756.71    | 0.35%             | 2035-05-17      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |   1328966 | PA      | $457297.20    | 0.29%             | 2026-11-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |   1443387 | PA      | $496813.81    | 0.32%             | 2049-05-16      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                          | Petroleos de Venezuela SA                                                                                                              | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |    544000 | PA      | $566032.00    | 0.36%             | 2049-10-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                              | Provincia de Cordoba                                                                                                                   | CUSIP: 000000000<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    268000 | PA      | $274539.20    | 0.18%             | 2032-07-02      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                              | Samarco Mineracao SA                                                                                                                   | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |   1352104 | PA      | $1331189.52   | 0.85%             | 2031-06-30      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| PROVINCE OF SANTA FE                              | Province of Santa Fe                                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AR        |    262000 | PA      | $250354.10    | 0.16%             | 2034-12-11      | Fixed         | 8.10%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    117000 | PA      | $59962.50     | 0.04%             | 2018-08-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| TRINIDAD & TOBAGO                                 | Trinidad & Tobago Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |    200000 | PA      | $202300.00    | 0.13%             | 2031-01-14      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    517000 | PA      | $201630.00    | 0.13%             | 2018-12-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    601000 | PA      | $231385.00    | 0.15%             | 2020-12-09      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Venezuela Government International Bonds          | Venezuela Government International Bonds                                                                                               | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    100000 | PA      | $41250.00     | 0.03%             | 2038-03-31      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |   1078600 | PA      | $444922.50    | 0.28%             | 2019-10-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    819200 | PA      | $353484.80    | 0.23%             | 2024-10-13      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                             | Venezuela Government International Bond                                                                                                | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    667000 | PA      | $281807.50    | 0.18%             | 2025-04-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Angola Government International Bonds             | Angola Government International Bonds                                                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    252000 | PA      | $224016.02    | 0.14%             | 2048-05-08      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Nigeria Government International Bonds            | Nigeria Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    350000 | PA      | $338690.43    | 0.22%             | 2038-02-23      | Fixed         | 7.70%                 | Yes           |                  2 | On Loan: No      |
| Republic of Kenya Government International Bonds  | Republic of Kenya Government International Bonds                                                                                       | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    555000 | PA      | $483878.80    | 0.31%             | 2048-02-28      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                           | Ethiopia International Bond                                                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |   2047000 | PA      | $2097990.77   | 1.34%             | 2024-12-11      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| Senegal Government International Bonds            | Senegal Government International Bonds                                                                                                 | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    247000 | PA      | $132180.06    | 0.08%             | 2033-05-23      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EXPORT-IMPORT BK INDIA                            | Export-Import Bank of India                                                                                                            | CUSIP: 000000000<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |    500000 | PA      | $489582.46    | 0.31%             | 2036-01-12      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GOLOMT BANK OF MONGOLIA                           | Golomt Bank                                                                                                                            | CUSIP: 000000000<br>LEI: 549300QLH7BRA4EIZO16 | Long             | DBT              | CORP              | MN        |    263000 | PA      | $266688.83    | 0.17%             | 2027-05-20      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                | Mongolia Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    280000 | PA      | $292639.56    | 0.19%             | 2029-06-05      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                | Mongolia Government International Bond                                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    400000 | PA      | $406138.13    | 0.26%             | 2030-02-25      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                              | Petronas Capital Ltd                                                                                                                   | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    520000 | PA      | $447589.98    | 0.29%             | 2050-04-21      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                              | Petronas Capital Ltd                                                                                                                   | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |   1500000 | PA      | $1540504.98   | 0.98%             | 2035-04-03      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                              | Petronas Capital Ltd                                                                                                                   | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |   1500000 | PA      | $1343307.56   | 0.86%             | 2032-01-28      | Fixed         | 2.48%                 | Yes           |                  2 | On Loan: No      |
| Republic of Azerbaijan International Bonds        | Republic of Azerbaijan International Bonds                                                                                             | CUSIP: 000000000<br>LEI: 549300P74FF45UQVU281 | Long             | DBT              | NUSS              | AZ        |    340000 | PA      | $313673.45    | 0.20%             | 2032-09-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

**Name of Applicant:** MORGAN STANLEY EMERGING MARKETS DEBT FUND INC

**Signature:** James F. Kirchner

**Name of Signer:** James F. Kirchner

**Title:** Principal Financial Officer