# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0001752724-25-156054
**Filing Date:** 2025-6
**Character Count:** 66129
**Document Hash:** 956284946d0fdd5f2ee965d4d036bbec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-156054.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-156054

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **CENTRAL INDEX KEY:** 0000885709

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251073080

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2136251900

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDENFUNDS
- **DATE OF NAME CHANGE:** 20010423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **DATE OF NAME CHANGE:** 19940104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** P&R INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Payden Emerging Markets Local Bond Fund (Series ID: S000033934)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000104641 | Payden Emerging Markets Local Bond Fund (Investor Class) | PYELX           |
| C000236138 | Payden Emerging Markets Local Bond Fund (SI Class)       | PYILX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PAYDEN & RYGEL INVESTMENT GROUP

- **b. Investment Company Act file number:** 811-06625

- **c. CIK number of Registrant:** 0000885709

- **d. LEI of Registrant:** 549300QJNYRKYZS3P282

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

  - **Street Address 1:** 333 South Grand Avenue

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-625-1900

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

- **a. Name of Series:** Payden Emerging Markets Local Bond Fund

- **b. EDGAR series identifier (if any):** S000033934

- **c. LEI of Series:** 549300ZRY78UEWJB7K76

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

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

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $90893648.35

**Total Liabilities:** $6717288.58

**Net Assets:** $84176359.77

**Cash Not Reported:** $6080429.54

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 709.87445690 | **10-Year:** 5881.83770700 | **30-Year:** 1342.71631500

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

- **3-Month:** 0.00000000 | **1-Year:** 35.01115392 | **5-Year:** 5611.77354200 | **10-Year:** 1110.68825300 | **30-Year:** 300.93429910

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000104641 | 0.53%                | 1.08%                | 2.92%                |
| Class ID C000236138 | 0.34%                | 1.35%                | 2.78%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-202113.84              | $44576.76                                  |
| Month 2  | $-406765.09              | $753536.32                                 |
| Month 3  | $-26362.17               | $1383126.90                                |

**Designated Index Information**

- **Index Name:** JP Morgan GBI-EM Global Diversified Index

- **Index Identifier:** JGENVUUG

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BNP PARIBAS SECURITIES CORP.           | USD/PLN FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-19769.19    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | CNH/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-683.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                  | Guatemala Government Bond                           | CUSIP: 401494AN9<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |      350000 | PA      | $346755.50    | 0.41%             | 2026-05-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |      565000 | PA      | $165058.76    | 0.20%             | 2033-08-12      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  2502100000 | PA      | $483258.95    | 0.57%             | 2031-03-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     2235000 | PA      | $393831.00    | 0.47%             | 2036-04-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                  | Indonesia Government International Bond             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |      120000 | PA      | $111289.77    | 0.13%             | 2033-03-12      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    25300000 | PA      | $1176744.79   | 1.40%             | 2038-11-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    38220000 | PA      | $1086666.96   | 1.29%             | 2042-06-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    13310000 | PA      | $422933.58    | 0.50%             | 2046-06-17      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                 | Corp Andina de Fomento                              | CUSIP: 000000000<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |  2000000000 | PA      | $428772.92    | 0.51%             | 2028-05-24      | Fixed         | 6.77%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                     | Angolan Government International Bond               | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      275000 | PA      | $216560.44    | 0.26%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/PHP FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-11049.52    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    27800000 | PA      | $1409979.87   | 1.68%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  8511000000 | PA      | $563043.67    | 0.67%             | 2034-03-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    21500000 | PA      | $732723.57    | 0.87%             | 2038-06-17      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                | JPMorgan Chase Bank NA                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |  6394000000 | PA      | $436841.16    | 0.52%             | 2031-07-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                 | Corp Andina de Fomento                              | CUSIP: 000000000<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |    55000000 | PA      | $684159.08    | 0.81%             | 2034-04-26      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  2322800000 | PA      | $404291.45    | 0.48%             | 2034-10-18      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                | Turkiye Government Bond                             | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    41880000 | PA      | $996425.56    | 1.18%             | 2026-08-12      | Fixed         | 36.00%                | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                | Inter-American Development Bank                     | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |   150000000 | PA      | $1824186.87   | 2.17%             | 2033-04-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                | America Movil SAB de CV                             | CUSIP: 02364WBL8<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     4730000 | PA      | $240502.15    | 0.29%             | 2031-01-27      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie F            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    33400000 | PA      | $5333651.16   | 6.34%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/KRW FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-4180.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                | Philippine Government International Bond            | CUSIP: 718286BM8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    17000000 | PA      | $297923.22    | 0.35%             | 2036-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    18460000 | PA      | $577063.40    | 0.69%             | 2040-04-24      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BANK KOREA               | Export-Import Bank of Korea                         | CUSIP: 000000000<br>LEI: 549300APVP4R32PI3Y06 | Long             | DBT              | NUSS              | KR        |     5000000 | PA      | $251574.41    | 0.30%             | 2026-07-30      | Fixed         | 7.93%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                 | Brazil Letras do Tesouro Nacional                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     7800000 | PA      | $1344282.73   | 1.60%             | 2025-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     9500000 | PA      | $1371615.87   | 1.63%             | 2029-06-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                       | Peruvian Government International Bond              | CUSIP: 715638AV4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     4255000 | PA      | $1148819.31   | 1.36%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   603000000 | PA      | $128254.63    | 0.15%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS               | Citigroup Global Markets Holdings Inc/United States | CUSIP: 173074SP1<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    32420000 | PA      | $570676.39    | 0.68%             | 2025-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  2780200000 | PA      | $387572.75    | 0.46%             | 2050-10-26      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER               | Banco de Credito del Peru S.A.                      | CUSIP: 05971U2F3<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |     1510000 | PA      | $435130.13    | 0.52%             | 2029-01-11      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | IDR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $3533.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                  | Argentine Republic Government International Bond    | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      242000 | PA      | $185735.00    | 0.22%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                   | Paraguay Government International Bond              | CUSIP: 699149BX7<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |  1250000000 | PA      | $154289.06    | 0.18%             | 2035-03-04      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                     | Morocco Government International Bond               | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |      235000 | PA      | $264558.20    | 0.31%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    48080000 | PA      | $2117868.96   | 2.52%             | 2040-01-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  8527000000 | PA      | $506822.28    | 0.60%             | 2034-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund | Payden Cash Reserves Money Market Fund              | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |     2672598 | NS      | $2672597.83   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     4221000 | PA      | $962067.44    | 1.14%             | 2040-08-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie F            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    11400000 | PA      | $1723486.36   | 2.05%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |    14450000 | PA      | $2144460.82   | 2.55%             | 2032-05-15      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     8390000 | PA      | $2139512.92   | 2.54%             | 2042-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | EUR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-372.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                | Standard Chartered Bank                             | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | Long             | DBT              | CORP              | GB        |  8600000000 | PA      | $513482.17    | 0.61%             | 2031-02-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    17690000 | PA      | $538653.77    | 0.64%             | 2031-12-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    13640000 | PA      | $577123.96    | 0.69%             | 2047-11-07      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie F            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     5000000 | PA      | $836165.48    | 0.99%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 10100000000 | PA      | $666533.07    | 0.79%             | 2036-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     2285000 | PA      | $574885.35    | 0.68%             | 2034-08-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                     | Peru Government Bond                                | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     2170000 | PA      | $616564.03    | 0.73%             | 2039-08-12      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 760942BH4<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |      190000 | PA      | $193752.50    | 0.23%             | 2037-02-14      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    22410000 | PA      | $972933.55    | 1.16%             | 2035-05-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                | Inter-American Development Bank                     | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |    48000000 | PA      | $583116.16    | 0.69%             | 2033-08-08      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | PEN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-8357.32     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                  | Bonos de la Tesoreria de la Republica en pesos      | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   355000000 | PA      | $385484.40    | 0.46%             | 2033-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL               | Brazil Notas do Tesouro Nacional Serie B            | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      854481 | PA      | $130443.96    | 0.15%             | 2050-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     3000000 | PA      | $416174.46    | 0.49%             | 2025-10-22      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  9805000000 | PA      | $594330.67    | 0.71%             | 2043-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |      980000 | PA      | $172074.10    | 0.20%             | 2053-04-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                  | Bonos de la Tesoreria de la Republica en pesos      | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  1200000000 | PA      | $1219436.31   | 1.45%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    46020000 | PA      | $1334617.20   | 1.59%             | 2035-12-17      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     5300000 | PA      | $776538.65    | 0.92%             | 2033-08-25      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 917288BP6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    11064039 | PA      | $262993.12    | 0.31%             | 2045-05-16      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    29240000 | PA      | $1145259.55   | 1.36%             | 2033-10-13      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/COP FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-40122.85    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     5000000 | PA      | $1267300.35   | 1.51%             | 2037-04-07      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 32066000000 | PA      | $1951158.15   | 2.32%             | 2033-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  1673000000 | PA      | $362920.51    | 0.43%             | 2027-11-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EMPRESAS PUBLIC MEDELLIN               | Empresas Publicas de Medellin ESP                   | CUSIP: 29246BAD0<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |  1436000000 | PA      | $311336.55    | 0.37%             | 2027-11-08      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                     | Dominican Republic International Bond               | CUSIP: 25714PES3<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    11950000 | PA      | $236550.06    | 0.28%             | 2033-02-03      | Fixed         | 13.62%                | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                 | Republic of Poland Government Bond                  | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     7385000 | PA      | $1924736.54   | 2.29%             | 2034-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | PLN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-832.42      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | KRW/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $724.86       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | HUF/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-4768.43     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | RON/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $30671.24     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/CZK FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-29180.60    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/CLP FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $1969.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | KZT/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $13971.79     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC               | MYR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |           1 | NC      | $2231.20      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | BRL/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $2226.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                | MXN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |           1 | NC      | $57006.99     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/CNH FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-2291.86     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | EUR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-3369.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | KZT/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-4801.95     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/COP FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-668.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | MXN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $6232.99      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/PEN FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-778.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/HUF FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $4741.31      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/MXN FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-12875.84    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/PLN FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-17683.56    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | THB/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-2030.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | USD/EUR FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-13389.74    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | HUF/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $42139.44     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | BRL/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $13117.92     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                | USD/MXN FORWARD                                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-14537.88    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/BRL FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-133145.79   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | THB/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $6288.88      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/PEN FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-23896.72    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/KZT FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-4812.69     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association  | ZAR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |           1 | NC      | $982.61       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/KRW FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-4440.55     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | PLN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $184116.01    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/THB FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-25855.82    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | CZK/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $75886.69     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | MYR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $49424.86     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | CNH/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $5384.89      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC               | BRL/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |           1 | NC      | $30478.54     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC               | USD/BRL FORWARD                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-492.36      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | ZAR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $50738.31     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/TRY FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $365.43       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/INR FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-8226.48     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | INR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $11475.15     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $3876.78      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $10939.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $1793.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS INR                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $3777.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.       | IRS MXN                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |           1 | NC      | $106620.65    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED              | IRS CNY                                             | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |           1 | NC      | $4982.25      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | IDR/USD FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $15641.05     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.       | IRS MXN                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |           1 | NC      | $103251.32    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    16825000 | PA      | $690118.06    | 0.82%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                | America Movil SAB de CV                             | CUSIP: 000000000<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |     8110000 | PA      | $421814.83    | 0.50%             | 2029-01-22      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     2730000 | PA      | $507879.53    | 0.60%             | 2031-09-24      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                         | Czech Republic Government Bond                      | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    11700000 | PA      | $569265.54    | 0.68%             | 2034-04-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     5500000 | PA      | $772546.82    | 0.92%             | 2027-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                   | Paraguay Government International Bond              | CUSIP: 699149AP5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |  2625000000 | PA      | $322371.32    | 0.38%             | 2031-02-09      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                | Hungary Government Bond                             | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   604550000 | PA      | $1717350.19   | 2.04%             | 2035-10-24      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF POLAND                     | Republic of Poland Government International Bond    | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |      345000 | PA      | $397273.06    | 0.47%             | 2035-01-16      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 917288BM3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     5570000 | PA      | $124551.11    | 0.15%             | 2031-05-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.             | USD/CNH FORWARD                                     | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $748.89       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                | Hungary Government Bond                             | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    29580000 | PA      | $51591.76     | 0.06%             | 2041-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND               | Thailand Government Bond                            | CUSIP: 000000000<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    19805000 | PA      | $679875.75    | 0.81%             | 2043-06-17      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK               | European Investment Bank                            | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | N/A       |    76000000 | PA      | $951318.02    | 1.13%             | 2033-10-23      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                      | Ghana Government International Bond                 | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      570000 | PA      | $387870.75    | 0.46%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                | European Bank for Reconstruction & Development      | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | N/A       |    67800000 | PA      | $794347.52    | 0.94%             | 2036-10-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     2530000 | PA      | $471771.96    | 0.56%             | 2034-10-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                | Turkiye Government Bond                             | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    49025000 | PA      | $836251.26    | 0.99%             | 2028-07-19      | Fixed         | 17.30%                | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     3200000 | PA      | $825550.24    | 0.98%             | 2038-06-08      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                 | Republic of Poland Government Bond                  | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     5120000 | PA      | $1435403.58   | 1.71%             | 2033-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                  | Indonesia Government International Bond             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |      130000 | PA      | $147914.81    | 0.18%             | 2033-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                           | USD/RON FORWARD                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |           1 | NC      | $2289.33      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     9750000 | PA      | $409244.12    | 0.49%             | 2042-11-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA               | Republic of South Africa Government Bond            | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    42240000 | PA      | $1883261.95   | 2.24%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  3733000000 | PA      | $223226.65    | 0.27%             | 2035-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     1310000 | PA      | $297056.42    | 0.35%             | 2026-01-28      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY               | Uruguay Government International Bond               | CUSIP: 917288BL5<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     4786017 | PA      | $120271.16    | 0.14%             | 2040-07-02      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                | Inter-American Development Bank                     | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |    47000000 | PA      | $573234.91    | 0.68%             | 2030-10-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| EUROPEAN BK RECON & DEV                | European Bank for Reconstruction & Development      | CUSIP: 000000000<br>LEI: 549300HTGDOVDU6OGK19 | Long             | DBT              | NUSS              | N/A       |   122000000 | PA      | $1453321.14   | 1.73%             | 2031-03-14      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 28039000000 | PA      | $1674130.99   | 1.99%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                  | China Government Bond                               | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     4790000 | PA      | $709814.47    | 0.84%             | 2029-05-23      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                   | Colombian TES                                       | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  3345000000 | PA      | $604997.77    | 0.72%             | 2042-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.           | PEN/USD FORWARD                                     | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |           1 | NC      | $70.71        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUPO TELEVISA SAB                     | Grupo Televisa SAB                                  | CUSIP: 000000000<br>LEI: 549300O4AF0C816ILN62 | Long             | DBT              | CORP              | MX        |     7270000 | PA      | $224285.46    | 0.27%             | 2043-05-14      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND                | Romania Government Bond                             | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     3530000 | PA      | $784756.84    | 0.93%             | 2027-07-26      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     3420000 | PA      | $809682.47    | 0.96%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                 | Republic of Poland Government Bond                  | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     4960000 | PA      | $1071221.10   | 1.27%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT                    | Malaysia Government Bond                            | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     2160000 | PA      | $503900.89    | 0.60%             | 2027-05-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                | Mexican Bonos                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    33490000 | PA      | $1544787.20   | 1.84%             | 2033-05-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                 | Corp Andina de Fomento                              | CUSIP: 000000000<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |     7500000 | PA      | $337032.46    | 0.40%             | 2031-02-22      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                   | Indonesia Treasury Bond                             | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  8491000000 | PA      | $568631.02    | 0.68%             | 2039-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MEXICAN UDIBONOS                       | Mexican Udibonos                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    16564791 | PA      | $733153.17    | 0.87%             | 2031-11-27      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| INTL BK RECON & DEVELOP                | International Bank for Reconstruction & Development | CUSIP: 000000000<br>LEI: ZTMSNXROF84AHWJNKQ93 | Long             | DBT              | NUSS              | N/A       |    31500000 | PA      | $376767.72    | 0.45%             | 2028-04-24      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-23

**Name of Applicant:** PAYDEN & RYGEL INVESTMENT GROUP

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer