# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0000898745-25-000873
**Filing Date:** 2025-12
**Character Count:** 107168
**Document Hash:** d08030adc2de065647da11ab39ad4c71
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898745-25-000873.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000898745-25-000873

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000898745

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07572
- **FILM NUMBER:** 251596292

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-235-9328

**MAIL ADDRESS:**
- **STREET 1:** PRINCIPAL FINANCIAL GROUP
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS, INC
- **DATE OF NAME CHANGE:** 20211220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS INC
- **DATE OF NAME CHANGE:** 20080616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL INVESTORS FUND INC
- **DATE OF NAME CHANGE:** 20001012

## Series and Classes Contracts Data

### Finisterre Emerging Markets Total Return Bond Fund (Series ID: S000054330)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000170736 | Institutional Class | PFUMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Principal Funds, Inc

- **b. Investment Company Act file number:** 811-07572

- **c. CIK number of Registrant:** 0000898745

- **d. LEI of Registrant:** 549300HZGBXSW6DSXF23

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

  - **Street Address 1:** 801 Grand Ave

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50309

  - **Telephone number:** 515-235-1719

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

- **a. Name of Series:** Finisterre Emerging Markets Total Return Bond Fund

- **b. EDGAR series identifier (if any):** S000054330

- **c. LEI of Series:** 549300MNS2JZWUXHD778

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

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

- **b. Date as of which information is reported:** 2025-10-31

**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:** $831586776.98

**Total Liabilities:** $21254016.74

**Net Assets:** $810332760.24

**Delayed Delivery Securities:** $3565579.24

**Cash Not Reported:** $8676993.06

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 26.45510000 | **1-Year:** 1117.13540000 | **5-Year:** 16306.12100000 | **10-Year:** 15224.44110000 | **30-Year:** 4511.14150000

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

- **3-Month:** 135.67620000 | **1-Year:** 5729.28180000 | **5-Year:** 83626.71470000 | **10-Year:** 78079.26820000 | **30-Year:** 23135.60310000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000170736 | 2.17%                | 1.48%                | 1.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3312656.52              | $6354304.73                                |
| Month 2  | $791556.64               | $5437307.65                                |
| Month 3  | $2008461.22              | $4711914.81                                |

**Designated Index Information**

- **Index Name:** Finisterre Emerging Markets Total Return Bond Blended Index

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Uzbekneftegaz JSC                                                                           | Uzbekneftegaz JSC                                                                           | CUSIP: Y002GMAB9<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | CORP              | UZ        |      1300000 | PA      | $1385815.65   | 0.17%             | 2030-05-07      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| National Bank of Uzbekistan                                                                 | National Bank of Uzbekistan                                                                 | CUSIP: N/A<br>LEI: 253400TZJ7T1YULTGN68       | Long             | DBT              | CORP              | UZ        |      2200000 | PA      | $2272142.62   | 0.28%             | 2030-07-17      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Peruvian Government International Bond                                                      | Peruvian Government International Bond                                                      | CUSIP: 715638FB3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     37300000 | PA      | $11689610.26  | 1.44%             | 2035-08-12      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Total Return Swaps                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |   5362340000 | NC      | $551198.54    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Angolan Government International Bond                                                       | Angolan Government International Bond                                                       | CUSIP: V21735AC5<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      2025000 | PA      | $1995819.97   | 0.25%             | 2028-05-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Grupo Nutresa SA                                                                            | Grupo Nutresa SA                                                                            | CUSIP: 40055CAA1<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |      9500000 | PA      | $10205375.00  | 1.26%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                                     | Sasol Financing USA LLC                                                                     | CUSIP: U8035UAA0<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |      5400000 | PA      | $5184000.00   | 0.64%             | 2027-11-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $29634.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                                          | FS Luxembourg Sarl                                                                          | CUSIP: 30315XAD6<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |      2300000 | PA      | $2386250.00   | 0.29%             | 2033-06-25      | Fixed         | 8.63%                 | No            |                  2 | On Loan: —       |
| Ghana Government International Bond                                                         | Ghana Government International Bond                                                         | CUSIP: 374422AN3<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      3394202 | PA      | $2928621.58   | 0.36%             | 2030-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Total Return Swaps                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |   1650000000 | NC      | $28089.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |      3300000 | OU      | $-29745.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Argentine Republic Government International Bond                                            | Argentine Republic Government International Bond                                            | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     20050000 | PA      | $14045025.00  | 1.73%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     20400000 | OU      | $-198081.86   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Nigeria Government International Bond                                                       | Nigeria Government International Bond                                                       | CUSIP: V342A3BZ6<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      4825000 | PA      | $4805860.00   | 0.59%             | 2030-02-23      | Fixed         | 7.14%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bond                                                       | Nigeria Government International Bond                                                       | CUSIP: N/A<br>LEI: 549300GSBZD84TNEQ285       | Long             | DBT              | NUSS              | NG        |      4075000 | PA      | $3999755.08   | 0.49%             | 2028-09-28      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co                                                                        | Saudi Arabian Oil Co                                                                        | CUSIP: M8237RAR5<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |      6975000 | PA      | $7209837.58   | 0.89%             | 2035-06-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| IHS Holding Ltd                                                                             | IHS Holding Ltd                                                                             | CUSIP: G4701HAC3<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |      1050000 | PA      | $1092320.87   | 0.13%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Kuwait International Government Bond                                                        | Kuwait International Government Bond                                                        | CUSIP: 501499AF4<br>LEI: 549300FSC1YD0D9XX589 | Long             | DBT              | NUSS              | KW        |      4050000 | PA      | $4067723.49   | 0.50%             | 2035-10-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government Bond                                                          | Republic of Poland Government Bond                                                          | CUSIP: N/A<br>LEI: 259400R9L8QEP0TPXS31       | Long             | DBT              | NUSS              | PL        |     48667149 | PA      | $11899969.90  | 1.47%             | 2036-08-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Kingston Airport Revenue Finance Ltd                                                        | Kingston Airport Revenue Finance Ltd                                                        | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |      3375000 | PA      | $3459375.00   | 0.43%             | 2036-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ecuador Government International Bond                                                       | Ecuador Government International Bond                                                       | CUSIP: P8054QBA0<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      3500000 | PA      | $3188500.00   | 0.39%             | 2030-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| Pakistan Government International Bond                                                      | Pakistan Government International Bond                                                      | CUSIP: Y2835JAE8<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      1775000 | PA      | $1772699.78   | 0.22%             | 2027-12-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |      3300000 | OU      | $-31156.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                | CUSIP: P2000GAA1<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |       525000 | PA      | $555996.00    | 0.07%             | 2035-02-11      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| IHS Holding Ltd                                                                             | IHS Holding Ltd                                                                             | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |      4225000 | PA      | $4309789.88   | 0.53%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BOI Finance BV                                                                              | BOI Finance BV                                                                              | CUSIP: N/A<br>LEI: 724500ZH3H2YACBUNF38       | Long             | DBT              | CORP              | NL        |      5355000 | PA      | $6369830.12   | 0.79%             | 2027-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Ecuador Government International Bond                                                       | Ecuador Government International Bond                                                       | CUSIP: P8054QBC6<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      1713268 | PA      | $1310650.02   | 0.16%             | 2035-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Interest Rate Swaps                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |    208425775 | OU      | $-84439.23    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Interest Rate Swaps                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       | 131400000000 | OU      | $-522722.34   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd                                                                 | Energean Israel Finance Ltd                                                                 | CUSIP: M4R2A7AC2<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |      4550000 | PA      | $4476062.50   | 0.55%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                                      | Romanian Government International Bond                                                      | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |      1750000 | PA      | $2055857.13   | 0.25%             | 2031-09-24      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Emirates Reit Sukuk III Ltd                                                                 | Emirates Reit Sukuk III Ltd                                                                 | CUSIP: G3100GAA8<br>LEI: 254900O98LGR8HB3GT84 | Long             | DBT              | CORP              | KY        |      1875000 | PA      | $1900327.76   | 0.23%             | 2028-12-12      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Provincia de Buenos Aires/Government Bonds                                                  | Provincia de Buenos Aires/Government Bonds                                                  | CUSIP: P1910WXV6<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |      6842080 | PA      | $5011823.60   | 0.62%             | 2037-09-01      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Israel Discount Bank Ltd                                                                    | Israel Discount Bank Ltd                                                                    | CUSIP: N/A<br>LEI: 549300XWZ7BG5G23OF51       | Long             | DBT              | CORP              | IL        |      1550000 | PA      | $1567050.00   | 0.19%             | 2028-01-26      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     16400000 | OU      | $-149263.25   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Braskem Idesa SAPI                                                                          | Braskem Idesa SAPI                                                                          | CUSIP: P1850NAB7<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |      1850000 | PA      | $1185510.93   | 0.15%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Telecommunications co Telekom Srbija AD Belgrade                                            | Telecommunications co Telekom Srbija AD Belgrade                                            | CUSIP: X9300AAA7<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |       975000 | PA      | $978480.84    | 0.12%             | 2029-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Hungary Government International Bond                                                       | Hungary Government International Bond                                                       | CUSIP: 445545AW6<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |      6175000 | PA      | $6489007.83   | 0.80%             | 2035-09-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mexican Bonos                                                                               | Mexican Bonos                                                                               | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |    190400000 | PA      | $8835867.70   | 1.09%             | 2042-11-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $368452.42    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $33614.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-49571.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-281029.16   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Egypt Government International Bond                                                         | Egypt Government International Bond                                                         | CUSIP: M1487WDG7<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      3275000 | PA      | $3328034.70   | 0.41%             | 2032-05-29      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Hungary Government International Bond                                                       | Hungary Government International Bond                                                       | CUSIP: X93622HA3<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |      1025000 | PA      | $1077122.76   | 0.13%             | 2035-09-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd                                                                           | Kosmos Energy Ltd                                                                           | CUSIP: U5007TAB1<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |      5200000 | PA      | $4138504.76   | 0.51%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Aegea Finance Sarl                                                                          | Aegea Finance Sarl                                                                          | CUSIP: N/A<br>LEI: 213800V6WTKUT1XWIZ47       | Long             | DBT              | CORP              | LU        |       575000 | PA      | $607515.22    | 0.07%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| Digicel International Finance Ltd / Difl US LLC                                             | Digicel International Finance Ltd / Difl US LLC                                             | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      7150000 | PA      | $7117792.68   | 0.88%             | 2032-08-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Axian Telecom Holding & Management PLC                                                      | Axian Telecom Holding & Management PLC                                                      | CUSIP: M1R03SAA8<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |      1550000 | PA      | $1566530.27   | 0.19%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                                   | Petroleos de Venezuela SA                                                                   | CUSIP: P7807HAR6<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |      6075000 | PA      | $1342575.00   | 0.17%             | 2026-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ATP Tower Holdings / Andean Telecom Partners Chile SpA / Andean Tower Partners Colombia SAS | ATP Tower Holdings / Andean Telecom Partners Chile SpA / Andean Tower Partners Colombia SAS | CUSIP: 00193BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      5200000 | PA      | $5337722.00   | 0.66%             | 2030-02-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Braskem Idesa SAPI                                                                          | Braskem Idesa SAPI                                                                          | CUSIP: P1850NAA9<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |      4000000 | PA      | $2588945.40   | 0.32%             | 2029-11-15      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Telecommunications co Telekom Srbija AD Belgrade                                            | Telecommunications co Telekom Srbija AD Belgrade                                            | CUSIP: 87945BAA8<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |      2650000 | PA      | $2659460.74   | 0.33%             | 2029-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Colombian TES                                                                               | Colombian TES                                                                               | CUSIP: N/A<br>LEI: 549300MHDRBVRF6B9117       | Long             | DBT              | NUSS              | CO        |  31674800000 | PA      | $8207566.53   | 1.01%             | 2029-08-22      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-3914.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     72885000 | OU      | $-5339671.90  | -0.66%            |  |  |  | No            |                  2 | On Loan: No      |
| Mexican Bonos                                                                               | Mexican Bonos                                                                               | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |    222200000 | PA      | $11407147.72  | 1.41%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd                                                                 | Energean Israel Finance Ltd                                                                 | CUSIP: 29290WAA5<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |      5165000 | PA      | $5513581.77   | 0.68%             | 2033-09-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $43294.34     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Egyptian Financial Co for Sovereign Taskeek/The                                             | Egyptian Financial Co for Sovereign Taskeek/The                                             | CUSIP: 282370AC9<br>LEI: 894500CX5LI3HIC87H85 | Long             | DBT              | NUSS              | EG        |      3625000 | PA      | $3746629.63   | 0.46%             | 2032-10-07      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                            | Vedanta Resources Finance II PLC                                                            | CUSIP: 92243XAM3<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |      4475000 | PA      | $4541136.34   | 0.56%             | 2030-07-24      | Fixed         | 9.48%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $47284.89     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund - Institutional Class                                           | BlackRock Liquidity FedFund - Institutional Class                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |       509357 | NS      | $509357.27    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mexico Government International Bond                                                        | Mexico Government International Bond                                                        | CUSIP: 91087BBL3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      4950000 | PA      | $4925250.00   | 0.61%             | 2035-09-22      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Turkiye Government Bond                                                                     | Turkiye Government Bond                                                                     | CUSIP: N/A<br>LEI: 5493000PCHOG3B6S3Q85       | Long             | DBT              | NUSS              | TR        |    306450000 | PA      | $6705196.90   | 0.83%             | 2029-09-12      | Fixed         | 30.08%                | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                                      | Romanian Government International Bond                                                      | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |      4650000 | PA      | $5725313.83   | 0.71%             | 2033-09-18      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Peruvian Government International Bond                                                      | Peruvian Government International Bond                                                      | CUSIP: N/A<br>LEI: 254900STKLK2DBJJZ530       | Long             | DBT              | NUSS              | PE        |     14750000 | PA      | $4560061.46   | 0.56%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                                          | FS Luxembourg Sarl                                                                          | CUSIP: 30315XAC8<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |      2399000 | PA      | $2504762.31   | 0.31%             | 2031-02-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Aegea Finance Sarl                                                                          | Aegea Finance Sarl                                                                          | CUSIP: 00775CAC0<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |      2900000 | PA      | $3063989.81   | 0.38%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Energo - Pro as                                                                             | Energo - Pro as                                                                             | CUSIP: N/A<br>LEI: 315700IQCL9IX158RO36       | Long             | DBT              | CORP              | CZ        |      5625000 | PA      | $6870181.54   | 0.85%             | 2030-05-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic International Bond                                                       | Dominican Republic International Bond                                                       | CUSIP: P3579ECH8<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      2825000 | PA      | $2703666.25   | 0.33%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd                                                                           | Ivanhoe Mines Ltd                                                                           | CUSIP: C48681AB3<br>LEI: 5299006XZISURYIA4G32 | Long             | DBT              | CORP              | CA        |      1050000 | PA      | $1082246.55   | 0.13%             | 2030-01-23      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-5306.21     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Yinson Bergenia Production BV                                                               | Yinson Bergenia Production BV                                                               | CUSIP: N97336AA4<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |      2450000 | PA      | $2572643.64   | 0.32%             | 2045-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                                      | Romanian Government International Bond                                                      | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |      3775000 | PA      | $4390310.21   | 0.54%             | 2033-06-07      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $585714.59    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Puma International Financing SA                                                             | Puma International Financing SA                                                             | CUSIP: 74588YAB6<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |      5225000 | PA      | $5400962.43   | 0.67%             | 2029-04-25      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Egypt Treasury Bills                                                                        | Egypt Treasury Bills                                                                        | CUSIP: YT9362948<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    134925000 | PA      | $2767485.23   | 0.34%             | 2025-12-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-14786.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     21134395 | OU      | $-2532712.34  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Banque Ouest Africaine de Developpement                                                     | Banque Ouest Africaine de Developpement                                                     | CUSIP: V0956YAB1<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              | CORP              | XX        |      4050000 | PA      | $4053781.28   | 0.50%             | 2027-07-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Czechoslovak Group AS                                                                       | Czechoslovak Group AS                                                                       | CUSIP: X1761DAM4<br>LEI: 315700SWFD7G70AVG768 | Long             | DBT              | CORP              | CZ        |      3150000 | PA      | $3255853.92   | 0.40%             | 2031-01-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Energean PLC                                                                                | Energean PLC                                                                                | CUSIP: YJ6216529<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |      2325000 | PA      | $2679899.03   | 0.33%             | 2031-05-12      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                                     | Raizen Fuels Finance SA                                                                     | CUSIP: L7909CAG2<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |       375000 | PA      | $313267.49    | 0.04%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| Aydem Yenilenebilir Enerji AS                                                               | Aydem Yenilenebilir Enerji AS                                                               | CUSIP: 054644AB5<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |      1675000 | PA      | $1652479.39   | 0.20%             | 2030-09-30      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| Egypt Treasury Bills                                                                        | Egypt Treasury Bills                                                                        | CUSIP: YT2270312<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    335000000 | PA      | $7012685.34   | 0.87%             | 2025-11-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HTA Group Ltd/Mauritius                                                                     | HTA Group Ltd/Mauritius                                                                     | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |      3525000 | PA      | $3655128.20   | 0.45%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                                      | Romanian Government International Bond                                                      | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |      1925000 | PA      | $2308246.65   | 0.28%             | 2039-07-11      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                | CUSIP: 072912AA6<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |      6350000 | PA      | $6724904.00   | 0.83%             | 2035-02-11      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| Brazilian Government International Bond                                                     | Brazilian Government International Bond                                                     | CUSIP: 105756CM0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      7100000 | PA      | $7246615.00   | 0.89%             | 2030-11-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Zambia Government International Bond                                                        | Zambia Government International Bond                                                        | CUSIP: N/A<br>LEI: 213800DMLAZ6LGMMD849       | Long             | DBT              | NUSS              | ZM        |       913419 | PA      | $636669.57    | 0.08%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| FS Luxembourg Sarl                                                                          | FS Luxembourg Sarl                                                                          | CUSIP: N/A<br>LEI: 222100EKR3JUJPGGOY81       | Long             | DBT              | CORP              | LU        |      1044000 | PA      | $1089805.50   | 0.13%             | 2031-02-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| Mexico Government International Bond                                                        | Mexico Government International Bond                                                        | CUSIP: 91087BBK5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      7000000 | PA      | $6994400.00   | 0.86%             | 2033-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HTA Group Ltd/Mauritius                                                                     | HTA Group Ltd/Mauritius                                                                     | CUSIP: V4256BAE4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |      1050000 | PA      | $1088761.59   | 0.13%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Dominican Republic International Bond                                                       | Dominican Republic International Bond                                                       | CUSIP: N/A<br>LEI: 254900EHU7Q8FGVPI369       | Long             | DBT              | NUSS              | DO        |      1400000 | PA      | $1505840.00   | 0.19%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Eastern European Electric Co BV                                                             | Eastern European Electric Co BV                                                             | CUSIP: N/A<br>LEI: 8945004UQXDLRHI1KJ27       | Long             | DBT              | CORP              | NL        |      2050000 | PA      | $2471143.54   | 0.30%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |      2600000 | OU      | $-23663.69    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Gabon Government International Bond                                                         | Gabon Government International Bond                                                         | CUSIP: V36283AD7<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |      2925000 | PA      | $2283899.03   | 0.28%             | 2031-02-06      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NWD Finance BVI Ltd                                                                         | NWD Finance BVI Ltd                                                                         | CUSIP: G66816AD4<br>LEI: 25490076V8K09HMNCT88 | Long             | DBT              | CORP              | VG        |      2875000 | PA      | $1185937.50   | 0.15%             | N/A             | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Interest Rate Swaps                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |   1725000000 | OU      | $1088197.46   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| IHS Holding Ltd                                                                             | IHS Holding Ltd                                                                             | CUSIP: G4701HAD1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |      1825000 | PA      | $1861625.21   | 0.23%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                                            | Comision Federal de Electricidad                                                            | CUSIP: N/A<br>LEI: 4469000001BFPONMPF32       | Long             | DBT              | CORP              | MX        |      2114800 | PA      | $1916060.65   | 0.24%             | 2036-09-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Egypt Government Bond                                                                       | Egypt Government Bond                                                                       | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    162225000 | PA      | $3473560.84   | 0.43%             | 2027-08-13      | Fixed         | 25.32%                | No            |                  2 | On Loan: No      |
| Saudi Awwal Bank                                                                            | Saudi Awwal Bank                                                                            | CUSIP: M8T3ARAF8<br>LEI: 558600TQS0WENZUC5190 | Long             | DBT              | CORP              | SA        |      1200000 | PA      | $1210782.72   | 0.15%             | 2035-09-04      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| BSF Finance                                                                                 | BSF Finance                                                                                 | CUSIP: G16559AN9<br>LEI: 549300FJCGREO1P1UL36 | Long             | DBT              | CORP              | KY        |       600000 | PA      | $600656.70    | 0.07%             | 2035-09-03      | Variable      | 5.76%                 | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd                                                                           | Ivanhoe Mines Ltd                                                                           | CUSIP: 46579RAE4<br>LEI: 5299006XZISURYIA4G32 | Long             | DBT              | CORP              | CA        |      7175000 | PA      | $7395351.43   | 0.91%             | 2030-01-23      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MAF Global Securities Ltd                                                                   | MAF Global Securities Ltd                                                                   | CUSIP: G5S64MAG1<br>LEI: 54930037VUDNYTS17017 | Long             | DBT              | CORP              | KY        |      1075000 | PA      | $1111651.05   | 0.14%             | N/A             | Variable      | 7.88%                 | No            |                  2 | On Loan: No      |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                            | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                            | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |      2327692 | PA      | $2461813.98   | 0.30%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IHS Netherlands Holdco BV                                                                   | IHS Netherlands Holdco BV                                                                   | CUSIP: N44153AE9<br>LEI: 5493006Z6YQYCCN2XI74 | Long             | DBT              | CORP              | NL        |      4245159 | PA      | $4247029.76   | 0.52%             | 2027-09-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-130134.07   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                         | Petroleos Mexicanos                                                                         | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      2325000 | PA      | $2323007.01   | 0.29%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                                                    | Eagle Funding Luxco Sarl                                                                    | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |      6425000 | PA      | $6527157.50   | 0.81%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Azule Energy Finance Plc                                                                    | Azule Energy Finance Plc                                                                    | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |      5050000 | PA      | $5075280.30   | 0.63%             | 2030-01-23      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Golar LNG Ltd                                                                               | Golar LNG Ltd                                                                               | CUSIP: 38046YAE1<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |      3825000 | PA      | $3781103.92   | 0.47%             | 2030-10-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Angolan Government International Bond                                                       | Angolan Government International Bond                                                       | CUSIP: V5S1ASAB6<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      9350000 | PA      | $8938641.89   | 1.10%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Republic of Uzbekistan International Bond                                                   | Republic of Uzbekistan International Bond                                                   | CUSIP: 91824PAA5<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |      4375000 | PA      | $4737405.62   | 0.58%             | 2032-02-28      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Ipoteka-Bank ATIB                                                                           | Ipoteka-Bank ATIB                                                                           | CUSIP: Y001L5AE6<br>LEI: 213800UWVX5JSNXJS434 | Long             | DBT              | CORP              | UZ        |      2150000 | PA      | $2151588.61   | 0.27%             | 2030-10-09      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Africa Finance Corp                                                                         | Africa Finance Corp                                                                         | CUSIP: N/A<br>LEI: 213800LXFHRRXIJRXW97       | Long             | DBT              | CORP              | XX        |       300000 | PA      | $299580.94    | 0.04%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Energo - Pro as                                                                             | Energo - Pro as                                                                             | CUSIP: N/A<br>LEI: 315700IQCL9IX158RO36       | Long             | DBT              | CORP              | CZ        |       300000 | PA      | $366409.68    | 0.05%             | 2030-05-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Southern Gas Corridor CJSC                                                                  | Southern Gas Corridor CJSC                                                                  | CUSIP: Y8T6JPAA4<br>LEI: 213800DG58KG59XY6318 | Long             | DBT              | CORP              | AZ        |       600000 | PA      | $605286.74    | 0.07%             | 2026-03-24      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Peru Government Bond                                                                        | Peru Government Bond                                                                        | CUSIP: N/A<br>LEI: 254900STKLK2DBJJZ530       | Long             | DBT              | NUSS              | PE        |     36175000 | PA      | $10437903.45  | 1.29%             | 2034-08-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Saavi Energia Sarl                                                                          | Saavi Energia Sarl                                                                          | CUSIP: 78518PAA3<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |      7300000 | PA      | $7847500.00   | 0.97%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Ghana Government International Bond                                                         | Ghana Government International Bond                                                         | CUSIP: N/A<br>LEI: 213800PP4399SNNXZ126       | Long             | DBT              | NUSS              | GH        |      4787461 | PA      | $4130192.84   | 0.51%             | 2030-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hungary Government Bond                                                                     | Hungary Government Bond                                                                     | CUSIP: N/A<br>LEI: 5299003F3UFKGCCMAP43       | Long             | DBT              | NUSS              | HU        |   4073400000 | PA      | $11613062.79  | 1.43%             | 2028-03-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Guatemala Government Bond                                                                   | Guatemala Government Bond                                                                   | CUSIP: N/A<br>LEI: 529900QKDFFU9UWW5315       | Long             | DBT              | NUSS              | GT        |      1675000 | PA      | $1845180.00   | 0.23%             | 2032-10-04      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Czechoslovak Group AS                                                                       | Czechoslovak Group AS                                                                       | CUSIP: N/A<br>LEI: 315700SWFD7G70AVG768       | Long             | DBT              | CORP              | CZ        |      5025000 | PA      | $5193862.21   | 0.64%             | 2031-01-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-13153.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     20400000 | OU      | $-192600.70   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy Pipeline Assets Bidco Ltd                                                            | Galaxy Pipeline Assets Bidco Ltd                                                            | CUSIP: 36321PAD2<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |      2359766 | PA      | $2143834.40   | 0.26%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Total Return Swaps                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |    143150000 | NC      | $534358.97    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Kenya Government International Bond                                             | Republic of Kenya Government International Bond                                             | CUSIP: 491798AP9<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      3175000 | PA      | $3107158.82   | 0.38%             | 2033-10-09      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Transnet/South Africa                                                                       | Transnet/South Africa                                                                       | CUSIP: N/A<br>LEI: 378900B07CD6F01EA796       | Long             | DBT              | CORP              | ZA        |      6725000 | PA      | $7106948.19   | 0.88%             | 2028-02-06      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Energuate Trust 2 0                                                                         | Energuate Trust 2 0                                                                         | CUSIP: 29277RAB1<br>LEI: 2549000ZL9MU01FZK194 | Long             | DBT              | CORP              | KY        |      2775000 | PA      | $2784704.18   | 0.34%             | 2035-09-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Africa Finance Corp                                                                         | Africa Finance Corp                                                                         | CUSIP: 00832XAA9<br>LEI: 213800LXFHRRXIJRXW97 | Long             | DBT              | CORP              | XX        |      4425000 | PA      | $4417223.02   | 0.55%             | N/A             | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Axian Telecom Holding & Management PLC                                                      | Axian Telecom Holding & Management PLC                                                      | CUSIP: 05465QAA7<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |      2700000 | PA      | $2728794.66   | 0.34%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |      3300000 | OU      | $-32042.65    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                                     | Raizen Fuels Finance SA                                                                     | CUSIP: L7909CAJ6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |       425000 | PA      | $361250.00    | 0.04%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bond                                                      | Romanian Government International Bond                                                      | CUSIP: N/A<br>LEI: 315700IASY927EDWBK92       | Long             | DBT              | NUSS              | RO        |      2575000 | PA      | $2941562.94   | 0.36%             | 2045-10-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $47278.76     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sitios Latinoamerica SAB de CV                                                              | Sitios Latinoamerica SAB de CV                                                              | CUSIP: 82983PAA1<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |      6350000 | PA      | $6559994.50   | 0.81%             | 2029-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bahamas Government International Bond                                                       | Bahamas Government International Bond                                                       | CUSIP: 056732AP5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |      3775000 | PA      | $4087532.25   | 0.50%             | 2036-06-24      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NWD MTN Ltd                                                                                 | NWD MTN Ltd                                                                                 | CUSIP: G6681PAR1<br>LEI: 254900STSWBVJ5FV9O74 | Long             | DBT              | CORP              | VG        |      3500000 | PA      | $2573067.14   | 0.32%             | 2029-07-18      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Ivory Coast Government International Bond                                                   | Ivory Coast Government International Bond                                                   | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |      6800000 | PA      | $7579232.64   | 0.94%             | 2032-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Dominican Republic International Bond                                                       | Dominican Republic International Bond                                                       | CUSIP: P3579ECF2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      2500000 | PA      | $2440000.00   | 0.30%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Principal Government Money Market Fund - Class R-6                                          | Principal Government Money Market Fund - Class R-6                                          | CUSIP: 74257B639<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     82233157 | NS      | $82233157.46  | 10.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Ukraine Government International Bond                                                       | Ukraine Government International Bond                                                       | CUSIP: N/A<br>LEI: 6354001WLTJXOMEXPY07       | Long             | DBT              | NUSS              | UA        |     10890368 | PA      | $6099817.52   | 0.75%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd                                                                           | Kosmos Energy Ltd                                                                           | CUSIP: 500688AH9<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |      1175000 | PA      | $714987.50    | 0.09%             | 2030-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $22094.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Samarco Mineracao SA                                                                        | Samarco Mineracao SA                                                                        | CUSIP: P8405QAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |      1343377 | PA      | $1343360.48   | 0.17%             | 2031-06-30      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     20400000 | OU      | $-183881.86   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Egypt Treasury Bills                                                                        | Egypt Treasury Bills                                                                        | CUSIP: M5R189XW1<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    103000000 | PA      | $1966887.63   | 0.24%             | 2026-03-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                | CUSIP: N/A<br>LEI: 549300WIWQK5Q9MCUN92       | Long             | DBT              | CORP              | MX        |      2525000 | PA      | $2498184.50   | 0.31%             | 2033-01-18      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $49.49        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WE Soda Investments Holding PLC                                                             | WE Soda Investments Holding PLC                                                             | CUSIP: 92943TAA1<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |      3675000 | PA      | $3679805.10   | 0.45%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Total Return Swaps                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |     41050000 | NC      | $510485.66    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastern European Electric Co BV                                                             | Eastern European Electric Co BV                                                             | CUSIP: N/A<br>LEI: 8945004UQXDLRHI1KJ27       | Long             | DBT              | CORP              | NL        |       175000 | PA      | $210951.28    | 0.03%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Colombian TES                                                                               | Colombian TES                                                                               | CUSIP: N/A<br>LEI: 549300MHDRBVRF6B9117       | Long             | DBT              | NUSS              | CO        |  55981700000 | PA      | $15572764.77  | 1.92%             | 2033-02-09      | Fixed         | 13.25%                | No            |                  2 | On Loan: No      |
| Lebanon Government International Bond                                                       | Lebanon Government International Bond                                                       | CUSIP: M6S21BAT0<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      2175000 | PA      | $495900.00    | 0.06%             | 2028-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NWD MTN Ltd                                                                                 | NWD MTN Ltd                                                                                 | CUSIP: G6681PBD1<br>LEI: 254900STSWBVJ5FV9O74 | Long             | DBT              | CORP              | VG        |       700000 | PA      | $610524.24    | 0.08%             | 2028-02-08      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Egypt Government Bond                                                                       | Egypt Government Bond                                                                       | CUSIP: YU0812781<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    155400000 | PA      | $3312021.05   | 0.41%             | 2027-10-01      | Fixed         | 24.46%                | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $46562.26     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $39289.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ivory Coast Government International Bond                                                   | Ivory Coast Government International Bond                                                   | CUSIP: N/A<br>LEI: 254900ICW11T82O6H590       | Long             | DBT              | NUSS              | CI        |      1425000 | PA      | $1655905.07   | 0.20%             | 2031-10-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| National Bank of Uzbekistan                                                                 | National Bank of Uzbekistan                                                                 | CUSIP: N/A<br>LEI: 253400TZJ7T1YULTGN68       | Long             | DBT              | CORP              | UZ        |      3200000 | PA      | $3425525.25   | 0.42%             | 2029-07-05      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Uzbekneftegaz JSC                                                                           | Uzbekneftegaz JSC                                                                           | CUSIP: 91825MAC7<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | CORP              | UZ        |      4675000 | PA      | $4983606.29   | 0.62%             | 2030-05-07      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Gaci First Investment Co                                                                    | Gaci First Investment Co                                                                    | CUSIP: G3705XAA0<br>LEI: 558600TU1PWGNLZ3XM88 | Long             | DBT              | CORP              | KY        |      7825000 | PA      | $8293037.12   | 1.02%             | 2034-07-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bond                                                       | Ukraine Government International Bond                                                       | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      1021234 | PA      | $572146.43    | 0.07%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Futures                                                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |          352 | NC      | $-397994.99   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Bahamas Government International Bond                                                       | Bahamas Government International Bond                                                       | CUSIP: P06518AL1<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |      1425000 | PA      | $1542975.75   | 0.19%             | 2036-06-24      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                                     | Raizen Fuels Finance SA                                                                     | CUSIP: 75102XAE6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |      2275000 | PA      | $1900489.41   | 0.23%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                         | Petroleos Mexicanos                                                                         | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      2225000 | PA      | $2176363.73   | 0.27%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Raizen Fuels Finance SA                                                                     | Raizen Fuels Finance SA                                                                     | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |      3325000 | PA      | $2826250.00   | 0.35%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Yinson Bergenia Production BV                                                               | Yinson Bergenia Production BV                                                               | CUSIP: 98585VAA6<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |      2625000 | PA      | $2756403.90   | 0.34%             | 2045-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | FX Forwards                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |            1 | NC      | $-3479.34     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Total Return Swaps                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |   1800000000 | NC      | $147660.74    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bond                                      | Republic of South Africa Government International Bond                                      | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      1375000 | PA      | $1161746.00   | 0.14%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Samarco Mineracao SA Escrow Shares                                                          | Samarco Mineracao SA Escrow Shares                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | BR        |       200000 | PA      | $0.00         | 0.00%             | 2023-10-24      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Leviathan Bond Ltd                                                                          | Leviathan Bond Ltd                                                                          | CUSIP: M6746GAC0<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |      7625000 | PA      | $7657406.25   | 0.94%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                                                      | Standard Chartered PLC                                                                      | CUSIP: 853254DF4<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      5975000 | PA      | $6344093.68   | 0.78%             | N/A             | Variable      | 7.63%                 | No            |                  2 | On Loan: —       |
| N/A                                                                                         | Total Return Swaps                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |   2206000000 | NC      | $225532.43    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| WE Soda Investments Holding PLC                                                             | WE Soda Investments Holding PLC                                                             | CUSIP: N/A<br>LEI: 984500SE38C07DB47A90       | Long             | DBT              | CORP              | GB        |      2500000 | PA      | $2502962.00   | 0.31%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government Bond                                                    | Republic of South Africa Government Bond                                                    | CUSIP: N/A<br>LEI: 378900AAFB4F17004C49       | Long             | DBT              | NUSS              | ZA        |    349200000 | PA      | $18018625.94  | 2.22%             | 2044-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Riyad Sukuk Ltd                                                                             | Riyad Sukuk Ltd                                                                             | CUSIP: G7576PAB2<br>LEI: 549300P8GI2KKEMZUH97 | Long             | DBT              | CORP              | KY        |      5525000 | PA      | $5631356.25   | 0.69%             | 2035-07-14      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| Aegea Finance Sarl                                                                          | Aegea Finance Sarl                                                                          | CUSIP: 00775CAE6<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |      3550000 | PA      | $3461085.39   | 0.43%             | 2036-01-20      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Ivory Coast Government International Bond                                                   | Ivory Coast Government International Bond                                                   | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |      4425000 | PA      | $4659255.43   | 0.57%             | 2036-04-01      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| Limak Cimento Sanayi ve Ticaret AS                                                          | Limak Cimento Sanayi ve Ticaret AS                                                          | CUSIP: M67729AB5<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |      4925000 | PA      | $5048296.29   | 0.62%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Senegal Government International Bond                                                       | Senegal Government International Bond                                                       | CUSIP: N/A<br>LEI: 549300NP14ZLQGWIUZ97       | Long             | DBT              | NUSS              | SN        |      2100000 | PA      | $2047676.49   | 0.25%             | 2028-03-13      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Galaxy Pipeline Assets Bidco Ltd                                                            | Galaxy Pipeline Assets Bidco Ltd                                                            | CUSIP: G3R238AC7<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |      2184969 | PA      | $1985031.85   | 0.24%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                         | Petroleos Mexicanos                                                                         | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      6330000 | PA      | $6497517.12   | 0.80%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| Yinson Boronia Production BV                                                                | Yinson Boronia Production BV                                                                | CUSIP: N9733XAA5<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |      4096051 | PA      | $4468835.77   | 0.55%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Veon Midco BV                                                                               | Veon Midco BV                                                                               | CUSIP: N9219HAP0<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |      9106000 | PA      | $8528383.20   | 1.05%             | 2027-11-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GDZ Elektrik Dagitim AS                                                                     | GDZ Elektrik Dagitim AS                                                                     | CUSIP: N/A<br>LEI: 984500B63B5766038A64       | Long             | DBT              | CORP              | TR        |      1425000 | PA      | $1392829.39   | 0.17%             | 2029-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Tengizchevroil Finance Co International Ltd                                                 | Tengizchevroil Finance Co International Ltd                                                 | CUSIP: G87602AA9<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | CORP              | BM        |      2440000 | PA      | $2426302.60   | 0.30%             | 2026-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morocco Government International Bond                                                       | Morocco Government International Bond                                                       | CUSIP: N/A<br>LEI: 529900F3MBW9XY5K1X07       | Long             | DBT              | NUSS              | MA        |      8625000 | PA      | $10276717.67  | 1.27%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco Sarl                                                                    | Eagle Funding Luxco Sarl                                                                    | CUSIP: L2660VAA3<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |      3850000 | PA      | $3911215.00   | 0.48%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Gabon Government International Bond                                                         | Gabon Government International Bond                                                         | CUSIP: V36283AE5<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |       275000 | PA      | $212799.52    | 0.03%             | 2031-11-24      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Interest Rate Swaps                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |     13000000 | OU      | $28319.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Credit Default Swaps                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | N/A       |     15973000 | OU      | $259174.81    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ghana Government International Bond                                                         | Ghana Government International Bond                                                         | CUSIP: 374422AM5<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      6275000 | PA      | $6102384.10   | 0.75%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Benin Government International Bond                                                         | Benin Government International Bond                                                         | CUSIP: N/A<br>LEI: 635400Q11P6AE5A5Y230       | Long             | DBT              | NUSS              | BJ        |      3525000 | PA      | $3664221.78   | 0.45%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                            | Vedanta Resources Finance II PLC                                                            | CUSIP: G9T27HAG9<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |      3600000 | PA      | $3768037.20   | 0.46%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Interest Rate Swaps                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |   1725000000 | OU      | $-1101163.53  | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Brazil Notas do Tesouro Nacional Serie F                                                    | Brazil Notas do Tesouro Nacional Serie F                                                    | CUSIP: N/A<br>LEI: 254900ZFY40OYEADAP90       | Long             | DBT              | NUSS              | BR        |    129854000 | PA      | $23247188.17  | 2.87%             | 2027-01-01      | Fixed         | 9.76%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government Bond                                                    | Republic of South Africa Government Bond                                                    | CUSIP: N/A<br>LEI: 378900AAFB4F17004C49       | Long             | DBT              | NUSS              | ZA        |    195650000 | PA      | $10055368.41  | 1.24%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Egypt Treasury Bills                                                                        | Egypt Treasury Bills                                                                        | CUSIP: N/A<br>LEI: 529900GFIVH4086NMH82       | Long             | DBT              | NUSS              | EG        |    220700000 | PA      | $4253567.87   | 0.52%             | 2026-03-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                         | Interest Rate Swaps                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | N/A       |    104500000 | OU      | $227648.08    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Egypt Government International Bond                                                         | Egypt Government International Bond                                                         | CUSIP: M1487WDD4<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      4200000 | PA      | $4179616.31   | 0.52%             | 2032-01-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| NWD MTN Ltd                                                                                 | NWD MTN Ltd                                                                                 | CUSIP: G6681PAW0<br>LEI: 254900STSWBVJ5FV9O74 | Long             | DBT              | CORP              | VG        |      1400000 | PA      | $1010373.73   | 0.12%             | 2030-05-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pakistan Government International Bond                                                      | Pakistan Government International Bond                                                      | CUSIP: Y2835JAK4<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      6475000 | PA      | $6394985.84   | 0.79%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Ecuador Government International Bond                                                       | Ecuador Government International Bond                                                       | CUSIP: P8054QBG7<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      1700000 | PA      | $1326000.00   | 0.16%             | 2030-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Israel Government International Bond                                                        | Israel Government International Bond                                                        | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |      7700000 | PA      | $7534549.25   | 0.93%             | 2054-03-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bond                                      | Republic of South Africa Government International Bond                                      | CUSIP: S7836LAB4<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      1400000 | PA      | $1492442.00   | 0.18%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Petroleos de Venezuela SA                                                                   | Petroleos de Venezuela SA                                                                   | CUSIP: N/A<br>LEI: 549300YWR8TN1OFD4P06       | Long             | DBT              | CORP              | VE        |     37250000 | PA      | $8232250.00   | 1.02%             | 2024-05-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Acu Petroleo Luxembourg Sarl                                                                | Acu Petroleo Luxembourg Sarl                                                                | CUSIP: L0R80QAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      5437799 | PA      | $5517544.68   | 0.68%             | 2035-07-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Puma International Financing SA                                                             | Puma International Financing SA                                                             | CUSIP: L78043AF0<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |       350000 | PA      | $361786.96    | 0.04%             | 2029-04-25      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SOCAR Turkey Enerji AS via Steas Funding 1 DAC                                              | SOCAR Turkey Enerji AS via Steas Funding 1 DAC                                              | CUSIP: N/A<br>LEI: 213800EHE74BZ15ING86       | Long             | DBT              | CORP              | IE        |      2300000 | PA      | $2296139.01   | 0.28%             | 2026-03-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| Zambia Government International Bond                                                        | Zambia Government International Bond                                                        | CUSIP: 988895AR9<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |      4775000 | PA      | $3333370.01   | 0.41%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** Principal Funds, Inc

**Signature:** Megan Hoffmann

**Name of Signer:** /s/ Megan Hoffmann

**Title:** Vice President and Treasurer