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AVIVA INVESTORS

SOCIÉTÉ D’INVESTISSEMENT À

CAPITAL VARIABLE (SICAV)

ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS

R.C.S. Luxembourg B 32.640 31 December 2025

avivainvestors.com

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Contents

Board of Directors' and Conducting officers Report 3 Manager's Market Review 5 Management and Administration 6 Notes on the portfolio of investments disclosure 8 Aviva Investors - Emerging Markets Bond Fund 9 Aviva Investors - Emerging Markets Corporate Bond Fund 15 Aviva Investors - Emerging Markets Local Currency Bond Fund 20 Aviva Investors - Global Climate Credit Fund 24 Aviva Investors - Global Climate Equity Fund 29 Aviva Investors - Global Equity Endurance Fund 30 Aviva Investors - Global Equity Income Fund 31 Aviva Investors - Global High Yield Bond Fund 34 Aviva Investors - Global Investment Grade Corporate Bond Fund 40 Aviva Investors - Multi-Strategy Target Return Fund 46 Aviva Investors - Natural Capital Global Equity Fund 63 Aviva Investors - Short Duration Global High Yield Bond Fund 65 Combined Statement of Net Assets 69 Statistical Information 71 Combined Statement of Operations and Changes in Net Assets 75 Notes to the Financial Statements 79 Other Information - Unaudited 85 Information for Investors in Switzerland - Unaudited 97

This report does not constitute an offer of shares. Subscriptions are only valid if made on the basis of the current prospectus and the Key Information Documents (“KID”) supplemented by the last available annual report and the latest semi-annual report if published after such an annual report. Investors are hereby urged to read the entire prospectus, particularly the description of special risks. Past performance is not necessarily indicative of future returns. Copies of the prospectus, KID, annual report, semi-annual report and details of changes in investments for the sub-funds are available free of charge from the registered office of the Fund, 2 rue du Fort Bourbon, L-1249 Luxembourg, Grand Duchy of Luxembourg.

The prospectus in force, Key information documents, as well as the management statutes and regulations, annual report, semi-annual report and details of changes in the sub-fund’s investments during the reference year are available free of charge from representative domiciled in Switzerland.

Aviva Investors Société d’investissement à capital variable (SICAV)

Annual report and audited financial statements | avivainvestors.com 2

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Dear Shareholders, The Directors of Aviva Investors SICAV (the “Fund” or the “Company” ) have the pleasure of presenting the annual report and audited financial statemen ts to the shareholders for the year ended 31 December 2025. Activities during the year :

The following Sub-Fund, including its associated Share Classes, was closed during the year: Sub-Fund Name Date Closed Aviva Investors – Emerging Markets Bond Fund Aviva Investors – Emerging Markets Corporate Bond Fund Aviva Investors – Emerging Markets Local Currency Bond Fund Aviva Investors – Global Climate Credit Fund Aviva Investors – Global Climate Equity Fund Aviva Investors – Global Equity Endurance Fund Aviva Investors – Global Equity Income Fund Aviva Investors – Global High Yield Bond Fund Aviva Investors – Global Investment Grade Corporate Bond Fund Aviva Investors – Multi-Strategy Target Return Fund Aviva Investors – Natural Capital Global Equity Fund Aviva Investors – Short Duration Global High Yield Bond Fund

Sub-Fund Name Share Class Class Currency Base Currency

Investment Management Fees Distribution Fees Date Launched

Aviva Investors - Emerging Markets Bond Fund Mm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 15 December 2025

Aviva Investors - Emerging Markets Bond Fund Zm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 20 May 2025 Aviva Investors - Emerging Markets Corporate Bond Fund K Share Class Accumulation Hedged EUR USD 0.37% 0.00% 20 May 2025 Aviva Investors - Emerging Markets Corporate Bond Fund Zm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 20 May 2025

Aviva Investors - Global Climate Credit Fund Zm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 20 May 2025

Aviva Investors - Global Equity Income Fund

S Share Class Accumulation EUR EUR USD 0.38% 0.00% 13 June 2025 Aviva Investors - Global Equity Income Fund S Share Class Accumulation USD USD 0.38% 0.00% 13 June 2025

Aviva Investors - Global Equity Income Fund Sq Share Class Dividend Hedged EUR EUR USD 0.38% 0.00% 17 June 2025 Aviva Investors - Global Equity Income Fund Zq Share Class Dividend GBP GBP USD 0.00% 0.00% 20 May 2025

Aviva Investors - Global High Yield Bond Fund Mm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 15 December 2025

Aviva Investors - Global High Yield Bond Fund Zm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 20 May 2025 Aviva Investors - Global Investment Grade Corporate Bond Fund Mm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 15 December 2025 Aviva Investors - Global Investment Grade Corporate Bond Fund Zm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 20 May 2025 Aviva Investors - Multi-Strategy Target Return Fund M Share Class Accumulation Hedged USD USD EUR 0.65% 0.00% 3 February 2025 Aviva Investors - Short Duration Global High Yield Bond Fund Zm Share Class Dividend Hedged GBP GBP USD 0.00% 0.00% 9 September 2025 During the year ended 31 December 2025, the following Share Class was closed: Sub-Fund Name Share Class Class Currency Base Currency Date Closed

Aviva Investors - Global Investment Grade Corporate Bond Fund V Share Class Accumulation USD USD 19 March 2025 During the year ended 31 December 2025, 4 Sub-Funds were renamed: Aviva Investors - Climate Transition Global Credit Fund to Aviva Investors - Global Climate Credit Fund on 14 May 2025. Aviva Investors - Climate Transition Global Equity Fund to Aviva Investors - Global Climate Equity Fund on 14 May 2025. Aviva Investors - Natural Capital Transition Global Equity Fund to Aviva Investors - Natural Capital Global Equity Fund on 14 May 2025. Changes in the Board of Directors: Changes in the composition of the Board of Directors (the "Board") during the year are outlined on page 7.

Aviva Investors Société d’investissement à capital variable (SICAV)

BOARD OF DIRECTORS' AND CONDUCTING OFFICERS REPORT

avivainvestors.com | Annual report and audited financial statements 3

At year end, the total net assets of the Sub-Funds (the “Sub-Funds”) of the Company were EUR 15,0 64 , 491 , 838 compared to EUR 16,625,574,377 on 31 December 2024, representing a decrease of 9. 39% 9%.

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Management Company role and responsibilities: Aviva Investors Luxembourg S.A. as the Management Company is responsible for the investment management, administration and distribution functions of the Company. Aviva Investors Luxembourg S.A. may delegate part or all of such functions to third parties, subject to overall control and supervision. Please refer to the “Management and administration” section to get more details on delegations in place. Conducting officers: The Management Company has appointed Conducting officers, in charge of the day to day management which are: - Victoria Kernan - Martin Bell - Sophie Vilain - Cindy Joller - Matteo Sbrolla - Justine Losic (from 3 February 2025) The Directors of the Company are required to take decisions in the interests of the Company and its Shareholders and to refrain from taking part in any deliberation or decision which creates conflict between their personal interests and those of the Company and its Shareholders. The Board of Directors meets at least four times a year. The Board requests and receives reports from Aviva Investors Luxembourg S.A. on the various activities including compliance controls and risk management undertaken by the Management Company. Senior Aviva Investors Luxembourg S.A. representatives attend all of the quarterly Board meetings, thus enabling the Board to question the reports presented to it. The Board reviews the Annual Report, the external audit process, corporate governance issues, agreements with various key service providers and the relationship with the external Auditor, including the recommendation to Shareholders of its appointment and level of fees. A new director can be co-opted by existing directors of the Company following the resignation of one director. Such co-optation is required to be ratified by the shareholders at the Annual General Meeting (“AGM”). If there is no resignation, the existing directors cannot proceed by way of co-optation, an d the approval of the shareholders at an AGM or Extraordinary General Meeting (“EGM”) will be required to appoint a new director. Commission de Surveillance du Secteur Financier (“CSSF”) approval is required in both circumstances. Directors who are affiliated with Aviva investors and its affiliates and subsidiaries have waived their fees for the year ended 31 December 2025. The Company is subject to corporate governance based on: Its obligations as defined by Luxembourg Law 17 December 2010 relating to undertakings for collective investment (as amended) and the Luxembourg law of 10 August 1915 on commercial companies (as amended). Its Articles of Incorporation which are available for inspection at the registered office of the Company and at the Luxembourg corporate and trade register, Registre de Commerce et des Sociétés. Its rules of conduct which have been adopted pursuant to applicable requirements under CSSF Regulation 10-4 and CSSF Circular 18/698 for which the Company relies on: - the Association of the Luxembourg Fund Industry (“ALFI”) code of conduct for Luxembourg investment funds. The code of conduct sets a framework of high-level principles and best practice recommendations for the governance of Luxembourg investment funds. The Board of Directors consider that the Fund has been in compliance with this code in all material aspects throughout the year ended 31 December 2025. Environmental, Social & Governance (ESG) Sub-Funds: On EU Sustainable Finance Disclosure Regulation (SFDR), information about the environmental or social characteristics and sustainable investmen t objectives, as applicable, are available in the Environmental, Social & Governance (ESG) Sub-Funds (Unaudited) section of the annual report. Furth er information regarding how the Investment Manager integrates ESG into its investment approach, its proprietary ESG model and how it engages with companies for each Sub-Funds is available on the website http://www.avivainvestors.com. Annual General Meeting: The annual general meeting shall be held in the Grand Duchy of Luxembourg at the registered office of the Company, or at such other place in Luxembourg as may be specified in the notice of the meeting, at any date and time decided by the Board but no later than within 6 months from the end of the Company's previous financial year. Significant Events: Effective 14 May 2025, the Board changed the investment objective and policy of the Aviva Investors - Climate Transition Global Credit Fund, and consequently on the same date, changed the Sub-Fund’s name to Aviva Investors - Global Climate Credit Fund. Effective 14 May 2025, the Board changed the investment objective and policy of the Aviva Investors - Climate Transition Global Equity Fund, and consequently on the same date, changed the Sub-Fund’s name to Aviva Investors - Global Climate Equity Fund. Effective 14 May 2025, the Board changed the investment objective and policy of the Aviva Investors - Natural Capital Transition Global Equity Fund, a nd consequently on the same date, changed the Sub-Fund’s name to Aviva Investors - Natural Capital Global Equity Fund.

The Board of Directors

The information stated in the report is historical and is not representative of future results.

Aviva Investors Société d’investissement à capital variable (SICAV)

BOARD OF DIRECTORS' AND CONDUCTING OFFICERS REPORT (CONTINUED)

avivainvestors.com | Annual report and audited financial statements 4

Luxembourg, 2 9 April 2026

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2025 MARKET REVIEW Technology and the artificial intelligence (AI) theme continued to be the engine driving equity returns in 2025, with “hyperscalers” and AI-exposed sectors capturing the bulk of performance as earnings continued to show resilience. Global equities, as measured by the MSCI ACWI, finished the year u p 20% in local currency terms. On the back of huge capital expenditure focused on AI, markets did begin to voice concerns as some of the large technology companies continued to load up debt as markets searched for answers on how this expenditure would be converted to revenue. Total AI capital expenditure (capex) was reported to be around €414billion in 2025, up 44% on the previous year. Bubble talk grew louder as we entered the final months of the year as stretched valuations and massive capex continued to worry investors with investment markets beginning to distinguish between possibl e winners and losers in the AI “arms race”. The other notable theme of the year was President Trump’s tariff policy as the US administration sought to redress what it viewed as imbalances in global trade. The so-called “Liberation Day” triggered a burst of asset market volatility, with the US administration’s unilateral tariff actions i gniting sharp swings in global risk sentiment and tightening financial conditions. The US equity bellwether, the S&P 500, fell as much as 15% in April. There was a reprieve for trading partners of the US as the US administration announced the delay of tariffs allowing for ongoing negotiations. This was greeted favourably by markets, allowing regions like Europe, UK and China time to agree lower tariff rates. However, in general, the effective tariff rate ros e from c.2.5% at the beginning of 2025 to c.15% by the end of the year. With tariff-related revenue expected to be around $280 billion in 2025, up from approximately $77billion in 2024, President Trump delivered on one of his election promises but the jury is still out on how this will impact the US economy. It was a choppy yet ultimately positive year for sovereign bond markets. A six-week US government shutdown and fiscal brinkmanship reinforced the divide between short-term political incentives and long-term debt sustainability, driving volatility in Treasury markets and contributing to yie ld curve distortions, with short-dated yields pushed higher by policy and funding uncertainty while longer-dated yields reflected weaker growth and fiscal sustainability concerns. Fiscal looseness did not just impact the US, with market patience also being tested in France, the UK and Germany as governments leant on deficit spending to support investment, energy security and industrial policy. In direct response to this, investors sought alternative safe havens as persistent US fiscal concerns pushed global buyers towards gold which finished the year up 65%. Linked to this, the US dolla r came under significant pressure over the year due to rising fiscal-related risks, concerns about US Federal Reserve independence and the prospect of slower US growth. Returns from US assets for overseas investors were thus eroded as the dollar lost around 9% of its value in 2025.

Aviva Investors Société d’investissement à capital variable (SICAV)

MANAGER’S MARKET REVIEW

avivainvestors.com | Annual report and audited financial statements 5

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REGISTERED OFFICE 2, rue du Fort Bourbon L-1249 Luxembourg Grand Duchy of Luxembourg BOARD OF DIRECTORS

DIRECTORS Denise Voss Independent Director 11, rue Gabriel Lippmann L-4119 Esch-sur-Alzette Grand Duchy of Luxembourg Jacques Elvinger (until 24 March 2026) Partner Elvinger Hoss Prussen Société anonyme 2, Place Winston Churchill L-1340 Luxembourg Grand Duchy of Luxembourg Paula Concordea Head of Legal Aviva Investors Luxembourg 2, rue du Fort Bourbon, L-1249 Luxembourg, Grand Duchy of Luxembourg Penny Collins Moffat (until 31 August 2025) Global Head of Client Relationship Aviva Investors Global Services Limited 80 Fenchurch St London EC3M 4AE, United Kingdom Celeste Dias Brennan (from 19 December 2025) Global Head of Product and distribution Aviva Investors Global Services Limited 80 Fenchurch St London EC3M 4AE, United Kingdom Gast Juncker (from 24 March 2026) Partner Elvinger Hoss Prussen Société anonyme 2, Place Winston Churchill L-1340 Luxembourg Grand Duchy of Luxembourg REPRESENTATIVE AND PAYING AGENT IN SWITZERLAND BNP PARIBAS, Paris, Zurich Branch Selnaustrasse 16 8002 Zurich Switzerland MANAGEMENT COMPANY AND DOMICILIARY AGENT Aviva Investors Luxembourg S.A. 2, rue du Fort Bourbon L-1249 Luxembourg Grand Duchy of Luxembourg

INVESTMENT MANAGER(*) Aviva Investors Global Services Limited (AIGSL) 80 Fenchurch St London EC3M 4AE, United Kingdom

(*) Subject to the responsibility and oversight of Aviva Investors Luxembourg S.A.

Aviva Investors Société d’investissement à capital variable (SICAV)

MANAGEMENT AND ADMINISTRATION

avivainvestors.com | Annual report and audited financial statements 6

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REGISTRAR AND TRANSFER AGENT(**) The Bank of New York Mellon SA/NV, Luxembourg Branch 2-4 rue Eugéne Ruppert L-2453 Luxembourg Grand Duchy of Luxembourg ADMINISTRATOR(**) The Bank of New York Mellon SA/NV, Luxembourg Branch 2-4 rue Eugéne Ruppert L-2453 Luxembourg Grand Duchy of Luxembourg DEPOSITARY The Bank of New York Mellon SA/NV, Luxembourg Branch 2-4 rue Eugéne Ruppert L-2453 Luxembourg Grand Duchy of Luxembourg AUDITOR Ernst & Young S.A. 35E, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg LEGAL ADVISER Elvinger Hoss & Prussen Société anonyme 2, Place Winston Churchill L-1340 Luxembourg Grand Duchy of Luxembourg LISTING AGENT Matheson LLP Solicitors 70 Sir John Rogerson's Quay Dublin 2, Ireland D02 R296

(*) Subject to the responsibility and oversight of Aviva Investors Global Services Limited, the Investment Manager. (**) Subject to the responsibility and oversight of Aviva Investors Luxembourg S.A.

Aviva Investors Société d’investissement à capital variable (SICAV)

MANAGEMENT AND ADMINISTRATION (CONTINUED)

avivainvestors.com | Annual report and audited financial statements 7

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Please note that the Portfolio of Investments and Other Net Assets has been prepared based on the country of incorporation of each position. To ensure consistency within this report, the same approach has been applied to all categories of investments. A disclosure based on country of risk could lead t o a different geographical classification. Investments in China are shown with the suffix 'A' or 'H' which signifies: China A-Shares Companies incorporated in mainland China and which are traded in the mainland A-Share markets. China H-Shares Companies incorporated in mainland China and listed in Hong Kong and other foreign stock exchanges. Please also note that the geographical allocation of the portfolios excludes derivatives exposure.

Aviva Investors Société d’investissement à capital variable (SICAV)

NOTES ON THE PORTFOLIO OF INVESTMENTS DISCLOSURE:

avivainvestors.com | Annual report and audited financial statements 8

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Bonds Argentina Argentine Republic Government International Bond, FRN 0% 15/12/2035 USD 50,000,000 1,427,000 0.04 Argentine Republic Government International Bond, STEP 4.125% 09/07/2035 USD 87,500,000 65,318,750 1.63 Argentine Republic Government International Bond, STEP 5% 09/01/2038 USD 37,500,000 29,193,750 0.73 Argentine Republic Government International Bond, STEP 3.5% 09/07/2041 USD 67,500,003 46,912,502 1.17 142,852,002 3.57 Brazil Brazilian Government International Bond 7.25% 12/01/2056 USD 55,000,000 54,606,750 1.36 Brazilian Government International Bond 5.5% 04/02/2033 USD 49,182,000 48,540,175 1.21 103,146,925 2.57 Cayman Islands Gaci First Investment Co., Reg. S 5.125% 14/02/2053 USD 15,000,000 13,378,000 0.33 Gaci First Investment Co., Reg. S 5.375% 13/10/2122 USD 30,000,000 26,449,002 0.66 Gaci First Investment Co., Reg. S 5% 29/01/2029 USD 25,000,000 25,477,435 0.63 Gaci First Investment Co., Reg. S 5.25% 29/01/2030 USD 27,500,000 28,360,557 0.71 Gaci First Investment Co., Reg. S 5% 15/09/2035 USD 65,000,000 65,092,731 1.62 SA Global Sukuk Ltd., Reg. S 4.25% 02/10/2029 USD 65,000,000 64,874,550 1.62 223,632,275 5.57 Chile Chile Government International Bond 3.5% 25/01/2050 USD 35,000,000 25,723,250 0.64 Chile Government International Bond 3.1% 07/05/2041 USD 20,000,000 15,454,000 0.38 Chile Government International Bond 3.1% 22/01/2061 USD 20,000,000 12,440,000 0.31 Empresa Nacional del Petroleo, Reg. S 6.15% 10/05/2033 USD 34,000,000 36,071,450 0.90 89,688,700 2.23 Colombia Colombia Government International Bond 8.375% 07/11/2054 USD 10,000,000 10,635,000 0.26 10,635,000 0.26 Côte d'Ivoire Ivory Coast Government International Bond, Reg. S 6.625% 22/03/2048 EUR 10,000,000 10,639,470 0.26 Ivory Coast Government International Bond, Reg. S 6.875% 17/10/2040 EUR 10,000,000 11,505,605 0.29

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Ivory Coast Government International Bond, Reg. S 8.25% 30/01/2037 USD 20,000,000 21,833,095 0.54 Ivory Coast Government International Bond, Reg. S 8.075% 01/04/2036 USD 12,500,000 13,539,959 0.34 57,518,129 1.43 Dominican Republic Dominican Republic International Bond, Reg. S 4.875% 23/09/2032 USD 22,500,000 21,706,875 0.54 Dominican Republic International Bond, Reg. S 5.95% 25/01/2027 USD 45,000,000 45,546,750 1.13 Dominican Republic International Bond, Reg. S 5.5% 22/02/2029 USD 20,000,000 20,292,000 0.51 87,545,625 2.18 Ecuador Ecuador Government International Bond, STEP, Reg. S 6.9% 31/07/2030 USD 15,000,000 14,842,650 0.37 Ecuador Government International Bond, STEP, Reg. S 6.9% 31/07/2035 USD 15,000,000 13,267,500 0.33 Ecuador Government International Bond, STEP, Reg. S 5% 31/07/2040 USD 15,000,000 11,782,500 0.29 39,892,650 0.99 Egypt Egypt Government Bond 23.531% 04/03/2027 EGP 750,000,000 15,665,732 0.39 Egypt Government International Bond, Reg. S 8.5% 31/01/2047 USD 5,000,000 4,919,596 0.12 Egypt Government International Bond, Reg. S 8.7% 01/03/2049 USD 5,000,000 5,026,762 0.13 Egypt Government International Bond, Reg. S 8.15% 20/11/2059 USD 5,000,000 4,708,597 0.12 Egypt Government International Bond, Reg. S 8.875% 29/05/2050 USD 5,000,000 5,090,947 0.13 Egypt Government International Bond, Reg. S 7.903% 21/02/2048 USD 15,000,000 13,962,245 0.35 Egypt Government International Bond, Reg. S 8.75% 30/09/2051 USD 5,000,000 5,016,948 0.12 Egypt Treasury Bills 0% 07/04/2026 EGP 750,000,000 14,785,057 0.37 69,175,884 1.73 Gabon Gabon Government International Bond, Reg. S 6.625% 06/02/2031 USD 17,000,000 13,230,432 0.33 Gabon Government International Bond, Reg. S 7% 24/11/2031 USD 5,300,000 4,055,626 0.10 17,286,058 0.43 Ghana Ghana Government International Bond, Reg. S 0% 03/07/2026 USD 832,000 817,119 0.02

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - EMERGING MARKETS BOND FUND Portfolio of Investments and Other Net Assets as at 31 December 2025

The accompanying notes form an integral part of these financial statements. avivainvestors.com | Annual report and audited financial statements 9

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Ghana Government International Bond, Reg. S 0% 03/01/2030 USD 2,709,240 2,400,511 0.06 Ghana Government International Bond, STEP, Reg. S 5% 03/07/2029 USD 12,584,000 12,389,526 0.31 Ghana Government International Bond, STEP, Reg. S 5% 03/07/2035 USD 18,096,000 16,603,589 0.41 32,210,745 0.80 Hungary MVM Energetika Zrt, Reg. S 7.5% 09/06/2028 USD 10,000,000 10,601,899 0.26 10,601,899 0.26 Indonesia Indonesia Government International Bond 3.55% 31/03/2032 USD 40,000,000 37,941,300 0.94 Indonesia Government International Bond 2.15% 28/07/2031 USD 20,000,000 17,771,555 0.44 Indonesia Government International Bond 4.65% 20/09/2032 USD 50,000,000 50,393,180 1.25 Indonesia Government International Bond 4.75% 10/09/2034 USD 10,000,000 9,995,043 0.25 Pertamina Persero PT, Reg. S 1.4% 09/02/2026 USD 27,674,000 27,571,715 0.69 Pertamina Persero PT, Reg. S 4.15% 25/02/2060 USD 40,000,000 29,820,398 0.74 173,493,191 4.31 Kazakhstan Kazakhstan Government International Bond, Reg. S 5% 01/07/2032 USD 15,000,000 15,310,665 0.38 Kazakhstan Government International Bond, Reg. S 5.5% 01/07/2037 USD 33,000,000 34,078,620 0.85 Kazakhstan Government International Bond, Reg. S 4.412% 28/10/2030 USD 79,750,000 79,360,441 1.98 QazaqGaz NC JSC, Reg. S 4.375% 26/09/2027 USD 20,592,000 20,543,311 0.51 149,293,037 3.72 Kenya Republic of Kenya Government International Bond, Reg. S 9.5% 05/03/2036 USD 10,000,000 10,702,970 0.27 Republic of Kenya Government International Bond, Reg. S 7.875% 09/10/2033 USD 10,000,000 10,019,087 0.25 20,722,057 0.52 Luxembourg Greensaif Pipelines Bidco SARL, Reg. S 6.103% 23/08/2042 USD 15,000,000 15,683,247 0.39 Greensaif Pipelines Bidco SARL, Reg. S 5.853% 23/02/2036 USD 30,000,000 31,394,637 0.78 47,077,884 1.17 Mexico Mexican Bonos 8% 31/07/2053 MXN 683,000,000 32,443,492 0.81

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Mexico Government International Bond 4.28% 14/08/2041 USD 40,000,000 32,240,000 0.80 Mexico Government International Bond 3.5% 12/02/2034 USD 25,000,000 21,675,000 0.54 Mexico Government International Bond 6.35% 09/02/2035 USD 10,000,000 10,505,000 0.26 Mexico Government International Bond 6.625% 29/01/2038 USD 46,527,000 48,667,242 1.21 Mexico Government International Bond 5.375% 22/03/2033 USD 43,800,000 43,559,100 1.08 189,089,834 4.70 Morocco Morocco Government International Bond, Reg. S 2.375% 15/12/2027 USD 14,000,000 13,449,300 0.33 Morocco Government International Bond, Reg. S 5.95% 08/03/2028 USD 23,000,000 23,693,417 0.59 OCP SA, Reg. S 6.1% 30/04/2030 USD 15,000,000 15,689,544 0.39 52,832,261 1.31 Netherlands Yinson Bergenia Production BV, Reg. S 8.498% 31/01/2045 USD 13,394,000 14,058,675 0.35 14,058,675 0.35 Nigeria Nigeria Government International Bond, Reg. S 8.747% 21/01/2031 USD 8,000,000 8,734,648 0.22 Nigeria Government International Bond, Reg. S 8.631% 13/01/2036 USD 6,000,000 6,462,393 0.16 Nigeria Government International Bond, Reg. S 9.13% 13/01/2046 USD 6,000,000 6,470,117 0.16 21,667,158 0.54 Oman Mazoon Assets Co. SAOC, Reg. S 5.2% 08/11/2027 USD 5,000,000 5,049,265 0.13 Mazoon Assets Co. SAOC, Reg. S 5.5% 14/02/2029 USD 18,800,000 19,281,524 0.48 Mazoon Assets Co. SAOC, Reg. S 5.25% 09/10/2031 USD 14,500,000 14,779,212 0.37 Oman Government International Bond, Reg. S 5.625% 17/01/2028 USD 35,000,000 35,856,788 0.89 Oman Government International Bond, Reg. S 4.75% 15/06/2026 USD 70,000,000 70,204,258 1.75 145,171,047 3.62 Pakistan Pakistan Government International Bond, Reg. S 6.875% 05/12/2027 USD 15,000,000 15,146,213 0.38 Pakistan Government International Bond, Reg. S 7.375% 08/04/2031 USD 8,927,000 8,896,007 0.22 Pakistan Government International Bond, Reg. S 8.875% 08/04/2051 USD 11,605,000 11,458,239 0.29 35,500,459 0.89

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - EMERGING MARKETS BOND FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

The accompanying notes form an integral part of these financial statements. avivainvestors.com | Annual report and audited financial statements 10

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Panama Panama Government International Bond 3.87% 23/07/2060 USD 50,000,000 33,242,500 0.83 33,242,500 0.83 Paraguay Paraguay Government International Bond, Reg. S 4.7% 27/03/2027 USD 14,668,000 14,792,678 0.37 Paraguay Government International Bond, Reg. S 2.739% 29/01/2033 USD 5,000,000 4,475,056 0.11 Paraguay Government International Bond, Reg. S 3.849% 28/06/2033 USD 10,000,000 9,480,290 0.24 28,748,024 0.72 Peru Peruvian Government International Bond 1.862% 01/12/2032 USD 25,000,000 20,698,750 0.52 Peruvian Government International Bond 2.78% 01/12/2060 USD 55,000,000 29,997,000 0.75 Peruvian Government International Bond 3% 15/01/2034 USD 10,000,000 8,718,500 0.22 59,414,250 1.49 Philippines Philippine Government International Bond 5.25% 14/05/2034 USD 25,000,000 26,107,776 0.65 Philippine Government International Bond 4.75% 05/03/2035 USD 25,000,000 25,108,126 0.63 ROP Sukuk Trust, Reg. S 5.045% 06/06/2029 USD 10,000,000 10,262,500 0.26 61,478,402 1.54 Poland Republic of Poland Government International Bond 4.875% 04/10/2033 USD 30,000,000 30,560,004 0.76 30,560,004 0.76 Romania Romanian Government International Bond, Reg. S 5.875% 30/01/2029 USD 10,000,000 10,335,832 0.26 Romanian Government International Bond, Reg. S 6.375% 30/01/2034 USD 10,000,000 10,440,385 0.26 Romanian Government International Bond, Reg. S 5.75% 24/03/2035 USD 15,000,000 14,917,617 0.37 Romanian Government International Bond, Reg. S 5.75% 16/09/2030 USD 42,400,000 43,763,051 1.09 79,456,885 1.98 Saudi Arabia Saudi Government International Bond, Reg. S 3.45% 02/02/2061 USD 16,000,000 10,232,099 0.25 Saudi Government International Bond, Reg. S 5.75% 16/01/2054 USD 40,000,000 39,659,705 0.99 49,891,804 1.24

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Senegal Senegal Government International Bond, Reg. S 6.75% 13/03/2048 USD 15,000,000 8,144,862 0.20 Senegal Government International Bond, Reg. S 6.25% 23/05/2033 USD 68,000,000 39,713,686 0.99 Senegal Government International Bond, Reg. S 7.75% 10/06/2031 USD 30,000,000 17,824,681 0.44 65,683,229 1.63 Serbia Serbia International Bond, Reg. S 6.25% 26/05/2028 USD 30,000,000 31,153,231 0.78 31,153,231 0.78 South Africa Republic of South Africa Government International Bond 5.65% 27/09/2047 USD 5,000,000 4,236,612 0.11 Republic of South Africa Government International Bond 5.75% 30/09/2049 USD 5,000,000 4,220,244 0.10 Republic of South Africa Government International Bond 6.3% 22/06/2048 USD 5,000,000 4,566,582 0.11 Republic of South Africa Government International Bond, Reg. S 7.95% 19/11/2054 USD 10,000,000 10,775,611 0.27 Republic of South Africa Government International Bond, Reg. S 7.25% 11/12/2055 USD 13,954,000 13,855,262 0.34 Republic of South Africa Government International Bond, Reg. S 6.125% 11/12/2037 USD 56,504,000 55,828,325 1.39 93,482,636 2.32 Trinidad and Tobago Trinidad & Tobago Government International Bond, Reg. S 4.5% 04/08/2026 USD 13,000,000 12,935,000 0.32 12,935,000 0.32 Turkey TC Ziraat Bankasi AS, Reg. S, FRN 8.994% 02/08/2034 USD 21,500,000 22,933,222 0.57 Turkiye Government Bond 37% 18/02/2026 TRY 1,100,000,000 25,680,931 0.64 Turkiye Government Bond 30% 12/09/2029 TRY 2,100,000,000 47,623,735 1.19 Turkiye Government Bond 36% 12/08/2026 TRY 1,690,000,000 39,660,436 0.99 Turkiye Government Bond 37.84% 14/07/2027 TRY 1,311,000,000 31,781,180 0.79 Turkiye Government International Bond 5.75% 11/05/2047 USD 20,000,000 16,456,800 0.41 Turkiye Government International Bond 4.875% 16/04/2043 USD 40,000,000 30,954,800 0.77 Turkiye Government International Bond 6.95% 16/09/2035 USD 40,000,000 41,262,960 1.03

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Turkiye Government International Bond 6.8% 04/11/2036 USD 20,000,000 20,208,680 0.50 Turkiye Varlik Fonu Yonetimi AS, Reg. S 6.875% 10/02/2031 USD 12,000,000 12,266,329 0.30 288,829,073 7.19 Ukraine Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2034 USD 8,000,000 4,922,446 0.12 Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2036 USD 7,000,000 4,156,214 0.10 Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2034 USD 43,000,000 20,528,673 0.51 Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2035 USD 30,000,000 16,992,436 0.42 Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2036 USD 30,000,000 17,090,969 0.43 63,690,738 1.58 United Arab Emirates Abu Dhabi Crude Oil Pipeline LLC, Reg. S 4.6% 02/11/2047 USD 40,000,000 37,226,656 0.93 Abu Dhabi Developmental Holding Co. PJSC, Reg. S 5.375% 08/05/2029 USD 14,050,000 14,580,676 0.36 Abu Dhabi Future Energy Co. PJSC Masdar, Reg. S 4.875% 21/05/2030 USD 22,500,000 22,913,500 0.57 Abu Dhabi Government International Bond, Reg. S 3.125% 30/09/2049 USD 20,000,000 14,316,770 0.36 Abu Dhabi Government International Bond, Reg. S 3.875% 16/04/2050 USD 10,000,000 8,068,094 0.20 Adnoc Murban Rsc Ltd., Reg. S 5.125% 11/09/2054 USD 28,839,000 27,156,390 0.68 Finance Department Government of Sharjah, Reg. S 4% 28/07/2050 USD 23,000,000 15,515,326 0.39 139,777,412 3.49 United States of America United States Treasury Notes 4.25% 15/08/2035 USD 178,500,000 179,810,859 4.48 179,810,859 4.48 Uzbekistan Uzbekneftegaz JSC, Reg. S 4.75% 16/11/2028 USD 22,000,000 21,189,989 0.53 21,189,989 0.53 Zambia Zambia Government International Bond, Reg. S 0.5% 31/12/2053 USD 5,841,920 4,126,760 0.10 Zambia Government International Bond, STEP, Reg. S 5.75% 30/06/2033 USD 5,201,481 5,131,188 0.13 9,257,948 0.23 Total Bonds 2,981,693,479 74.26 Commercial Papers Egypt Egypt Treasury Bills EGP 750,000,000 14,756,164 0.37

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Egypt Treasury Bills EGP 750,000,000 14,688,791 0.37 Egypt Treasury Bills EGP 500,000,000 9,747,988 0.24 39,192,943 0.98 Total Commercial Papers 39,192,943 0.98 Total Transferable securities and money market instruments admitted to an official exchange listing 3,020,886,422 75.24 Transferable securities and money market instruments dealt in on another regulated market Bonds Argentina Argentine Republic Government International Bond, STEP 4.125% 09/07/2046 USD 33,409,091 23,937,613 0.60 23,937,613 0.60 Cayman Islands Kingston Airport Revenue Finance Ltd., Reg. S 6.75% 15/12/2036 USD 10,000,000 10,312,500 0.26 10,312,500 0.26 Chile Corp. Nacional del Cobre de Chile, Reg. S 6.44% 26/01/2036 USD 11,000,000 11,939,182 0.30 Empresa Nacional del Petroleo, Reg. S 5.95% 30/07/2034 USD 6,428,000 6,733,947 0.17 18,673,129 0.47 Guatemala Guatemala Government Bond, Reg. S 6.55% 06/02/2037 USD 8,000,000 8,600,000 0.21 8,600,000 0.21 Indonesia Pertamina Hulu Energi PT, Reg. S 5.25% 21/05/2030 USD 40,016,000 40,829,707 1.02 40,829,707 1.02 Luxembourg Eagle Funding Luxco SARL, Reg. S 5.5% 17/08/2030 USD 79,938,000 81,523,970 2.03 Raizen Fuels Finance SA, Reg. S 5.7% 17/01/2035 USD 2,809,000 2,151,475 0.05 83,675,445 2.08 Malaysia Petronas Capital Ltd., Reg. S 4.95% 03/01/2031 USD 20,000,000 20,678,620 0.51 Petronas Capital Ltd., Reg. S 5.34% 03/04/2035 USD 35,000,000 36,411,791 0.91 57,090,411 1.42 Mexico Comision Federal de Electricidad, Reg. S 5.7% 24/01/2030 USD 12,000,000 12,226,800 0.30 Mexico Government International Bond 6% 07/05/2036 USD 25,000,000 25,393,750 0.63 Mexico Government International Bond 6.875% 13/05/2037 USD 20,000,000 21,390,000 0.53 Petroleos Mexicanos 6.35% 12/02/2048 USD 25,000,000 19,640,506 0.49 Petroleos Mexicanos 7.69% 23/01/2050 USD 20,000,000 17,937,523 0.45

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Petroleos Mexicanos 6.95% 28/01/2060 USD 60,000,000 48,886,200 1.22 Petroleos Mexicanos 6.75% 21/09/2047 USD 50,000,000 41,143,437 1.02 186,618,216 4.64 Morocco OCP SA, Reg. S 6.75% 02/05/2034 USD 21,500,000 23,216,053 0.58 23,216,053 0.58 Peru Peruvian Government International Bond 5.375% 08/02/2035 USD 25,000,000 25,600,000 0.64 Peruvian Government International Bond 5.5% 30/03/2036 USD 15,000,000 15,316,500 0.38 40,916,500 1.02 Poland Republic of Poland Government International Bond 5.375% 12/02/2035 USD 35,000,000 36,366,693 0.91 36,366,693 0.91 Turkey Turkiye Ihracat Kredi Bankasi AS, Reg. S 7.5% 06/02/2028 USD 25,000,000 26,147,042 0.65 Turkiye Varlik Fonu Yonetimi AS, Reg. S 8.25% 14/02/2029 USD 13,391,000 14,403,025 0.36 Turkiye Varlik Fonu Yonetimi AS, Reg. S 7.75% 10/09/2035 USD 10,000,000 10,532,151 0.26 51,082,218 1.27 Total Bonds 581,318,485 14.48 Total Transferable securities and money market instruments dealt in on another regulated market 581,318,485 14.48 Other transferable securities and money market instruments Bonds Argentina Argentine Republic Government International Bond 1% 09/07/2029 § USD 1 1 1-

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Ukraine Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2029 § USD 1 - Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2035 USD 9,000,000 5,423,953 0.13 5,423,953 0.13 Total Bonds 5,423,954 0.13 Total Other transferable securities and money market instruments 5,423,954 0.13 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 102,236 12,735,978 0.32 Aviva Investors Liquidity Funds plc - Sterling Liquidity Fund † GBP 200,000 269,010 Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 223,244,491 223,244,491 5.56 236,249,479 5.88 Total Collective Investment Schemes 236,249,479 5.88 Total Units of authorised UCITS or other collective investment undertakings 236,249,479 5.88 Total investments 3,843,878,340 95.73 Cash/(bank overdraft) 66,177,393 1.65 Other assets/(liabilities) 105,157,403 2.62 Total net assets 4,015,213,136 100.00 § Security is valued at its fair value under the direction of the Board of Directors. † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets CHF 306,546 USD 382,559 12/01/2026 BNY Mellon 4,877 CHF 306,546 USD 381,907 20/01/2026 BNY Mellon 5,864 CHF 306,546 USD 386,799 27/01/2026 BNY Mellon 1,266 EUR 87,131,539 USD 101,345,412 12/01/2026 BNY Mellon 1,044,281 0.03 EUR 87,124,157 USD 101,668,094 20/01/2026 BNY Mellon 751,739 0.01 GBP 590,472,209 USD 779,091,925 12/01/2026 BNY Mellon 15,113,269 0.37 GBP 588,897,122 USD 785,288,479 20/01/2026 BNY Mellon 6,788,750 0.17 GBP 588,896,929 USD 790,313,298 27/01/2026 BNY Mellon 1,755,427 0.04 KZT 18,250,000,000 USD 33,562,372 18/03/2026 Deutsche Bank 1,590,010 0.04 KZT 5,300,000,000 USD 9,922,306 18/03/2026 Goldman Sachs 286,331 0.01 KZT 5,300,000,000 USD 9,877,924 18/03/2026 Merrill Lynch 330,713 0.01 MXN 825,534,665 USD 44,914,835 18/03/2026 Merrill Lynch 648,561 0.02 USD 11,017 EUR 9,349 12/01/2026 BNY Mellon 32 USD 11,022 EUR 9,349 20/01/2026 BNY Mellon 32 USD 11,025 EUR 9,349 27/01/2026 BNY Mellon 32 USD 2,189 EUR 1,859 02/02/2026 BNY Mellon 2 USD 1,584,223 GBP 1,177,500 20/01/2026 BNY Mellon 464 USD 1,584,213 GBP 1,177,500 27/01/2026 BNY Mellon 471 -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets USD 1,584,318 GBP 1,177,595 02/02/2026 BNY Mellon 468 ZAR 1,345,771,586 USD 78,511,848 18/03/2026 HSBC 2,254,964 0.06 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 30,577,553 0.76 CHF 306,546 USD 390,809 02/02/2026 BNY Mellon (2,493) EUR 87,090,634 USD 102,606,670 27/01/2026 BNY Mellon (192,270) EUR 86,960,757 USD 102,787,179 02/02/2026 BNY Mellon (496,490) (0.02) GBP 588,896,615 USD 795,837,720 02/02/2026 BNY Mellon (3,779,639) (0.09) USD 191,140 EUR 163,294 12/01/2026 BNY Mellon (749) USD 182,587 EUR 155,912 20/01/2026 BNY Mellon (697) USD 143,570 EUR 122,387 27/01/2026 BNY Mellon (351) USD 32,182,036 EUR 27,519,343 18/03/2026 Standard Chartered Bank (256,507) (0.01) USD 3,682,941 GBP 2,753,188 12/01/2026 BNY Mellon (20,189) USD 807 GBP 602 20/01/2026 BNY Mellon (3) USD 547 GBP 408 27/01/2026 BNY Mellon (1) USD 39,618,561 MXN 720,000,000 18/03/2026 Goldman Sachs (120,104) USD 39,646,486 MXN 720,000,000 18/03/2026 Merrill Lynch (92,179) USD 39,612,624 ZAR 670,000,000 18/03/2026 Morgan Stanley (597,590) (0.02) Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (5,559,262) (0.14) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 25,018,291 0.62

Financial Futures Contracts

Security Description Number of Contracts Currency

Unrealised Gain/(Loss) USD % of Net Assets US 10 Year Ultra Bond, 20/03/2026 1,840 USD (1,480,630) (0.04) US Ultra Bond, 20/03/2026 514 USD (1,385,317) (0.03) Total Unrealised Loss on Financial Futures Contracts - Liabilities (2,865,947) (0.07)

Option Purchased Contracts

Quantity Security Description Currency Counterparty Market Value USD % of Net Assets 200,000,000 USD/MXN, Put, 17.720, 17/02/2026 USD Morgan Stanley 546,700 0.01 Total Market Value on Option Purchased Contracts - Assets 546,700 0.01

Credit Default Swap Contracts

Nominal Amount Currency Counterparty Reference Entity Buy/Sell

Interest (Paid)/ Received Rate Maturity Date Market Value USD % of Net Assets

(25,000,000) USD Citigroup Brazil Government Bond 3.75% 20/12/2030 Buy 1.000% 20/12/2030 423,557 0.01

(25,000,000) USD Goldman Sachs Brazil Government Bond 3.75% 20/12/2030 Buy 1.000% 20/12/2030 423,557 0.01

(100,000,000) USD Morgan Stanley Brazil Government Bond 3.75% 20/12/2030 Buy 1.000% 20/12/2030 1,694,227 0.04 (200,200,000) USD Barclays CDX.EM.44.V1 Buy 1.000% 20/12/2030 2,152,739 0.06 (199,800,000) USD Goldman Sachs CDX.EM.44.V1 Buy 1.000% 20/12/2030 2,148,438 0.05

(25,000,000) USD Citigroup Colombia Government Bond 10.375% 20/12/2030 Buy 1.000% 20/12/2030 1,181,214 0.03

(25,000,000) USD Goldman Sachs Colombia Government Bond 10.375% 20/12/2030 Buy 1.000% 20/12/2030 1,181,214 0.03

(100,000,000) USD Goldman Sachs South Africa Government Bond 5.88% 20/12/2030 Buy 1.000% 20/12/2030 1,558,354 0.04 Total Market Value on Credit Default Swap Contracts - Assets 10,763,300 0.27

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Bonds Argentina Argentine Republic Government International Bond, FRN 0% 15/12/2035 USD 6,000,000 171,240 0.03 Argentine Republic Government International Bond, STEP 4.125% 09/07/2035 USD 2,400,000 1,791,600 0.27 Argentine Republic Government International Bond, STEP 3.5% 09/07/2041 USD 2,500,000 1,737,500 0.26 3,700,340 0.56 Bermuda Ooredoo International Finance Ltd., Reg. S 4.5% 31/01/2043 USD 9,845,000 9,066,593 1.36 9,066,593 1.36 Cayman Islands IHS Holding Ltd., Reg. S 5.625% 29/11/2026 USD 2,106,000 2,095,805 0.31 MAF Global Securities Ltd., Reg. S, FRN 5.748% Perpetual USD 6,100,000 6,054,926 0.91 Melco Resorts Finance Ltd., Reg. S 5.375% 04/12/2029 USD 3,500,000 3,467,472 0.52 Melco Resorts Finance Ltd., Reg. S 5.75% 21/07/2028 USD 5,500,000 5,501,789 0.83 QNB Finance Ltd., Reg. S 2.75% 12/02/2027 USD 7,750,000 7,633,037 1.14 Saudi Electricity Sukuk Programme Co., Reg. S 5.225% 18/02/2030 USD 5,000,000 5,129,189 0.77 SNB Funding Ltd., Reg. S, FRN 6% 24/06/2035 USD 8,000,000 8,235,750 1.24 Sobha Sukuk Ltd., Reg. S 7.996% 19/02/2029 USD 5,373,000 5,480,682 0.82 Wynn Macau Ltd., Reg. S 5.625% 26/08/2028 USD 3,371,000 3,367,777 0.51 46,966,427 7.05 Colombia Ecopetrol SA 7.75% 01/02/2032 USD 6,300,000 6,491,583 0.97 6,491,583 0.97 Indonesia Freeport Indonesia PT, Reg. S 5.315% 14/04/2032 USD 10,000,000 10,209,520 1.53 10,209,520 1.53 Kazakhstan Kazakhstan Government International Bond, Reg. S 4.412% 28/10/2030 USD 6,500,000 6,468,249 0.97 6,468,249 0.97 Kuwait National Bank of Kuwait SAKP, Reg. S, FRN 5.25% 10/02/2036 USD 3,110,000 3,118,596 0.47 3,118,596 0.47

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Luxembourg Greensaif Pipelines Bidco SARL, Reg. S 6.103% 23/08/2042 USD 5,000,000 5,227,749 0.78 Greensaif Pipelines Bidco SARL, Reg. S 5.853% 23/02/2036 USD 3,910,000 4,091,768 0.61 9,319,517 1.39 Mauritius HTA Group Ltd., Reg. S 7.5% 04/06/2029 USD 5,150,000 5,328,576 0.80 5,328,576 0.80 Mexico America Movil SAB de CV 5% 20/01/2033 USD 5,100,000 5,194,760 0.78 5,194,760 0.78 Morocco OCP SA, Reg. S 3.75% 23/06/2031 USD 6,500,000 6,092,915 0.91 OCP SA, Reg. S 6.7% 01/03/2036 USD 5,250,000 5,637,140 0.85 OCP SA, Reg. S 6.1% 30/04/2030 USD 2,500,000 2,614,924 0.39 14,344,979 2.15 Netherlands Prosus NV, Reg. S 3.832% 08/02/2051 USD 11,600,000 7,733,935 1.16 Vivo Energy Investments BV, Reg. S 5.125% 24/09/2027 USD 6,750,000 6,736,907 1.01 Yinson Bergenia Production BV, Reg. S 8.498% 31/01/2045 USD 5,300,000 5,563,012 0.83 Yinson Boronia Production BV, Reg. S 8.947% 31/07/2042 USD 3,188,542 3,480,921 0.52 23,514,775 3.52 Oman Bank Muscat SAOG, Reg. S 4.75% 17/03/2026 USD 7,650,000 7,661,447 1.15 Mazoon Assets Co. SAOC, Reg. S 5.2% 08/11/2027 USD 7,500,000 7,573,897 1.14 15,235,344 2.29 Saudi Arabia Saudi Arabian Oil Co., Reg. S 5.875% 17/07/2064 USD 9,050,000 8,803,041 1.32 8,803,041 1.32 Singapore United Overseas Bank Ltd., Reg. S, FRN 3.863% 07/10/2032 USD 8,800,000 8,744,598 1.31 8,744,598 1.31 South Africa Republic of South Africa Government International Bond, Reg. S 7.25% 11/12/2055 USD 2,274,000 2,257,909 0.34 Republic of South Africa Government International Bond, Reg. S 6.125% 11/12/2037 USD 9,135,000 9,025,764 1.35 11,283,673 1.69 South Korea Shinhan Bank Co. Ltd., Reg. S 4% 23/04/2029 USD 5,320,000 5,250,479 0.79 5,250,479 0.79

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Thailand Kasikornbank PCL, Reg. S, FRN 3.343% 02/10/2031 USD 7,300,000 7,210,978 1.08 7,210,978 1.08 Turkey Turkiye Garanti Bankasi AS, Reg. S, FRN 8.375% 28/02/2034 USD 5,000,000 5,231,865 0.78 Turkiye Government Bond 30% 12/09/2029 TRY 210,000,000 4,762,373 0.71 Turkiye Government Bond 36% 12/08/2026 TRY 138,000,000 3,238,544 0.49 Turkiye Government Bond 37.84% 14/07/2027 TRY 168,400,677 4,082,359 0.61 Zorlu Enerji Elektrik Uretim AS, Reg. S 11% 23/04/2030 USD 4,800,000 4,161,706 0.62 21,476,847 3.21 Ukraine Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2034 USD 2,500,000 1,193,528 0.18 Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2035 USD 3,000,001 1,699,244 0.25 2,892,772 0.43 United Arab Emirates Abu Dhabi Future Energy Co. PJSC Masdar, Reg. S 4.875% 21/05/2030 USD 3,250,000 3,309,728 0.50 Binghatti Sukuk 2 Spv Ltd., Reg. S 7.75% 02/07/2029 USD 7,050,000 6,898,641 1.03 First Abu Dhabi Bank PJSC, Reg. S, FRN 5.804% 16/01/2035 USD 6,000,000 6,189,094 0.93 Sobha Sukuk I Holding Ltd., Reg. S 7.125% 11/09/2030 USD 3,750,000 3,768,004 0.57 20,165,467 3.03 United Kingdom Bidvest Group UK plc (The), Reg. S 6.2% 17/09/2032 USD 6,000,000 6,113,910 0.92 Liquid Telecommunications Financing plc, Reg. S 5.5% 04/09/2026 USD 5,750,000 5,251,920 0.79 Prudential Funding Asia plc, Reg. S, FRN 2.95% 03/11/2033 USD 5,988,000 5,757,425 0.86 Standard Chartered plc, Reg. S, FRN 2.678% 29/06/2032 USD 5,000,000 4,536,365 0.68 Standard Chartered plc, Reg. S, FRN 7.625% Perpetual USD 3,300,000 3,537,224 0.53 25,196,844 3.78 Uzbekistan National Bank of Uzbekistan, Reg. S 7.2% 17/07/2030 USD 4,950,000 5,125,457 0.77 Uzbekneftegaz JSC, Reg. S 4.75% 16/11/2028 USD 3,250,000 3,130,339 0.47 8,255,796 1.24 Virgin Islands, British Studio City Finance Ltd., Reg. S 6.5% 15/01/2028 USD 2,000,000 2,003,932 0.30

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets TSMC Global Ltd., Reg. S 1.375% 28/09/2030 USD 7,500,000 6,615,311 0.99 TSMC Global Ltd., Reg. S 1% 28/09/2027 USD 9,000,000 8,566,272 1.28 17,185,515 2.57 Total Bonds 295,425,269 44.29 Total Transferable securities and money market instruments admitted to an official exchange listing 295,425,269 44.29 Transferable securities and money market instruments dealt in on another regulated market Bonds Argentina Pampa Energia SA, Reg. S 7.75% 14/11/2037 USD 6,754,000 6,699,900 1.00 Vista Energy Argentina SAU, Reg. S 8.5% 10/06/2033 USD 4,503,000 4,632,461 0.69 YPF SA, Reg. S 9.5% 17/01/2031 USD 5,000,000 5,340,860 0.80 YPF SA, Reg. S 8.75% 11/09/2031 USD 3,960,000 4,103,760 0.61 20,776,981 3.10 Bermuda Tengizchevroil Finance Co. International Ltd., Reg. S 4% 15/08/2026 USD 3,000,000 2,988,163 0.45 2,988,163 0.45 Cayman Islands IHS Holding Ltd., Reg. S 8.25% 29/11/2031 USD 7,100,000 7,439,091 1.12 Kingston Airport Revenue Finance Ltd., Reg. S 6.75% 15/12/2036 USD 7,732,000 7,973,625 1.20 MGM China Holdings Ltd., Reg. S 4.75% 01/02/2027 USD 2,500,000 2,491,075 0.37 Montego Bay Airport Revenue Finance Ltd., Reg. S 6.6% 15/06/2035 USD 3,300,000 3,308,217 0.50 Sands China Ltd. 5.4% 08/08/2028 USD 1,870,000 1,906,863 0.29 Sands China Ltd. 3.8% 08/01/2026 USD 5,000,000 4,999,765 0.75 Wynn Macau Ltd., Reg. S 5.5% 01/10/2027 USD 5,000,000 4,999,565 0.75 Wynn Macau Ltd., Reg. S 6.75% 15/02/2034 USD 2,250,000 2,280,981 0.34 35,399,182 5.32 Colombia Ecopetrol SA 4.625% 02/11/2031 USD 4,600,000 4,126,556 0.62 Grupo Nutresa SA, Reg. S 8% 12/05/2030 USD 6,700,000 7,246,203 1.09 11,372,759 1.71 Dominican Republic Aeropuertos Dominicanos Siglo XXI SA, Reg. S 7% 30/06/2034 USD 5,550,000 5,854,945 0.88 5,854,945 0.88 Hong Kong AIA Group Ltd., Reg. S 5.375% 05/04/2034 USD 7,425,000 7,689,954 1.15 Bank of East Asia Ltd. (The), Reg. S, FRN 6.75% 27/06/2034 USD 5,500,000 5,775,601 0.87 13,465,555 2.02

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets India IRB Infrastructure Developers Ltd., Reg. S 7.11% 11/03/2032 USD 6,850,000 7,084,292 1.06 7,084,292 1.06 Ireland Aragvi Finance International DAC, Reg. S 11.125% 20/11/2029 USD 8,850,000 8,838,395 1.32 8,838,395 1.32 Israel Energean Israel Finance Ltd., Reg. S, 144A 5.375% 30/03/2028 USD 8,725,000 8,618,500 1.29 8,618,500 1.29 Jersey Galaxy Pipeline Assets Bidco Ltd., Reg. S 2.16% 31/03/2034 USD 6,292,710 5,704,892 0.86 5,704,892 0.86 Luxembourg Aegea Finance SARL, Reg. S 7.625% 20/01/2036 USD 5,686,000 5,433,549 0.81 MC Brazil Downstream Trading SARL, Reg. S 7.25% 30/06/2031 USD 2,871,648 2,520,363 0.38 OHI Group SA, Reg. S 13% 22/07/2029 USD 3,752,500 3,812,540 0.57 Raizen Fuels Finance SA, Reg. S 6.45% 05/03/2034 USD 2,750,000 2,244,719 0.34 Raizen Fuels Finance SA, Reg. S 5.7% 17/01/2035 USD 4,400,000 3,370,057 0.51 Rede D'or Finance SARL, Reg. S 4.5% 22/01/2030 USD 6,150,000 5,985,312 0.90 23,366,540 3.51 Mauritius Greenko Wind Projects Mauritius Ltd., Reg. S 7.25% 27/09/2028 USD 5,500,000 5,563,664 0.83 5,563,664 0.83 Mexico BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico, Reg. S, FRN 5.125% 18/01/2033 USD 8,000,000 7,869,400 1.18 Cemex SAB de CV, Reg. S, FRN 5.125% Perpetual USD 7,050,000 7,053,542 1.06 Cemex SAB de CV, Reg. S, FRN 7.2% Perpetual USD 2,844,000 2,969,563 0.44 CFE Fibra E, Reg. S 5.875% 23/09/2040 USD 7,288,767 7,292,910 1.09 Minera Mexico SA de CV, Reg. S 5.625% 12/02/2032 USD 6,500,000 6,734,000 1.01 Total Play Telecomunicaciones SA de CV, Reg. S 11.125% 31/12/2032 USD 5,750,000 5,530,350 0.83 37,449,765 5.61 Netherlands Braskem Netherlands Finance BV, Reg. S 8.5% 12/01/2031 USD 1,200,000 470,640 0.07 Braskem Netherlands Finance BV, Reg. S 8% 15/10/2034 USD 1,200,000 465,768 0.07

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Greenko Dutch BV, Reg. S 3.85% 29/03/2026 USD 3,373,500 3,349,546 0.50 Teva Pharmaceutical Finance Netherlands III BV 6% 01/12/2032 USD 6,150,000 6,459,149 0.97 10,745,103 1.61 Oman Bank Muscat SAOG, Reg. S 4.846% 01/10/2030 USD 7,353,000 7,382,245 1.11 7,382,245 1.11 Peru Banco de Credito del Peru S.A., Reg. S, FRN 6.45% 30/07/2035 USD 7,410,000 7,720,542 1.16 Banco de Credito del Peru S.A., Reg. S, FRN 5.65% 15/01/2037 USD 2,800,000 2,817,500 0.42 Kallpa Generacion SA, Reg. S 5.5% 11/09/2035 USD 5,650,000 5,676,838 0.85 Niagara Energy SAC, Reg. S 5.746% 03/10/2034 USD 3,150,000 3,215,413 0.48 19,430,293 2.91 Poland ORLEN SA, Reg. S 6% 30/01/2035 USD 4,500,000 4,748,495 0.71 4,748,495 0.71 Serbia Telecommunications Co. Telekom Srbija AD Belgrade, Reg. S 7% 28/10/2029 USD 8,400,000 8,418,169 1.26 8,418,169 1.26 Singapore DBS Group Holdings Ltd., Reg. S, FRN 1.822% 10/03/2031 USD 5,850,000 5,814,412 0.87 Medco Cypress Tree Pte Ltd., Reg. S 8.625% 19/05/2030 USD 2,966,000 3,128,992 0.47 Medco Laurel Tree Pte Ltd., Reg. S 6.95% 12/11/2028 USD 2,000,000 2,016,272 0.30 Oversea-Chinese Banking Corp. Ltd., Reg. S, FRN 4.55% 08/09/2035 USD 10,700,000 10,670,619 1.60 21,630,295 3.24 South Korea Kookmin Bank, Reg. S 2.5% 04/11/2030 USD 3,750,000 3,421,481 0.51 Shinhan Bank Co. Ltd., Reg. S 4.5% 26/03/2028 USD 3,100,000 3,118,247 0.47 SK hynix, Inc., Reg. S 5.5% 16/01/2029 USD 6,700,000 6,930,835 1.04 13,470,563 2.02 Thailand Bangkok Bank PCL, Reg. S, FRN 3.733% 25/09/2034 USD 11,000,000 10,444,104 1.57 Thaioil Treasury Center Co. Ltd., Reg. S 2.5% 18/06/2030 USD 5,950,000 5,427,642 0.81 15,871,746 2.38 Turkey Akbank TAS, Reg. S, FRN 7.875% 04/09/2035 USD 4,000,000 4,134,273 0.62 Aydem Yenilenebilir Enerji AS, Reg. S 9.875% 30/09/2030 USD 3,700,000 3,645,371 0.55

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Limak Yenilenebilir Enerji AS, Reg. S 9.625% 12/08/2030 USD 3,600,000 3,544,861 0.53 Turkiye Is Bankasi AS, Reg. S, FRN 7.375% 02/04/2036 USD 6,500,000 6,545,733 0.98 17,870,238 2.68 United States of America Kosmos Energy Ltd., Reg. S 8.75% 01/10/2031 USD 3,800,000 2,164,138 0.32 2,164,138 0.32 Uzbekistan Ipoteka-Bank ATIB, Reg. S 6.45% 09/10/2030 USD 5,100,000 5,109,287 0.77 5,109,287 0.77 Total Bonds 313,324,205 46.97 Total Transferable securities and money market instruments dealt in on another regulated market 313,324,205 46.97 Other transferable securities and money market instruments Bonds Russia Sberbank PJSC 5.125% 02/10/2023 § USD 5,300,000 - -Ukraine Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2030 § USD 1 1 -

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2036 § USD 1 - Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2035 § USD 1 - 1Total Bonds 1 Total Other transferable securities and money market instruments 1 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 41,800,001 41,800,001 6.27 41,800,001 6.27 Total Collective Investment Schemes 41,800,001 6.27 Total Units of authorised UCITS or other collective investment undertakings 41,800,001 6.27 Total investments 650,549,476 97.53 Cash/(bank overdraft) 1,478,733 0.22 Other assets/(liabilities) 14,985,659 2.25 Total net assets 667,013,868 100.00 § Security is valued at its fair value under the direction of the Board of Directors. † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets EUR 19,684,303 USD 22,895,094 12/01/2026 BNY Mellon 236,253 0.04 EUR 19,684,303 USD 22,970,692 20/01/2026 BNY Mellon 169,424 0.02 GBP 103,205,900 USD 136,173,824 12/01/2026 BNY Mellon 2,641,620 0.39 GBP 103,205,900 USD 137,623,519 20/01/2026 BNY Mellon 1,190,273 0.18 GBP 103,190,901 USD 138,484,767 27/01/2026 BNY Mellon 307,406 0.05 KZT 3,600,000,000 USD 6,739,680 18/03/2026 Goldman Sachs 194,489 0.03 KZT 900,000,000 USD 1,677,383 18/03/2026 Merrill Lynch 56,159 0.01 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 4,795,624 0.72 EUR 19,684,284 USD 23,190,879 27/01/2026 BNY Mellon (43,106) (0.01) EUR 19,684,284 USD 23,266,726 02/02/2026 BNY Mellon (112,384) (0.02) GBP 103,190,901 USD 139,452,698 02/02/2026 BNY Mellon (662,316) (0.10) USD 23 EUR 19 12/01/2026 BNY Mellon - USD 22 EUR 19 20/01/2026 BNY Mellon - USD 20,151 GBP 15,000 12/01/2026 BNY Mellon (25) USD 20,150 GBP 15,000 20/01/2026 BNY Mellon (25) Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (817,856) (0.13) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 3,977,768 0.59

Financial Futures Contracts

Security Description Number of Contracts Currency

Unrealised Gain/(Loss) USD % of Net Assets US 10 Year Ultra Bond, 20/03/2026 180 USD (16,877) Total Unrealised Loss on Financial Futures Contracts - Liabilities (16,877) -

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Credit Default Swap Contracts

Nominal Amount Currency Counterparty Reference Entity Buy/Sell

Interest (Paid)/ Received Rate Maturity Date Market Value USD % of Net Assets (40,000,000) USD Barclays CDX.EM.44.V1 Buy 1.000% 20/12/2030 430,118 0.07 (20,000,000) USD Goldman Sachs CDX.EM.44.V1 Buy 1.000% 20/12/2030 215,059 0.03 Total Market Value on Credit Default Swap Contracts - Assets 645,177 0.10

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Bonds Argentina Argentine Republic Government International Bond, FRN 0% 15/12/2035 USD 7,500,000 182,256 0.02 182,256 0.02 Brazil Brazil Letras do Tesouro Nacional 0% 01/01/2026 BRL 99,327,000 15,433,771 1.71 Brazil Letras do Tesouro Nacional 0% 01/07/2027 BRL 116,443,000 15,031,343 1.67 Brazil Notas do Tesouro Nacional Serie F 10% 01/01/2031 BRL 106,000,000 14,467,642 1.60 Brazil Notas do Tesouro Nacional Serie F 10% 01/01/2033 BRL 40,000,000 5,235,695 0.58 Brazil Notas do Tesouro Nacional Serie F 10% 01/01/2029 BRL 80,000,000 11,503,645 1.27 Brazil Notas do Tesouro Nacional Serie F 10% 01/01/2035 BRL 45,000,000 5,730,473 0.63 67,402,569 7.46 Chile Bonos de la Tesoreria de la Republica en pesos 5% 01/03/2035 CLP 2,500,000,000 2,310,287 0.26 Bonos de la Tesoreria de la Republica en pesos 6% 01/01/2043 CLP 2,000,000,000 1,999,815 0.22 Bonos de la Tesoreria de la Republica en pesos, Reg. S, 144A 4.7% 01/09/2030 CLP 3,630,000,000 3,371,505 0.37 Bonos de la Tesoreria de la Republica en pesos, Reg. S, 144A 7% 01/05/2034 CLP 5,305,000,000 5,577,575 0.62 13,259,182 1.47 China China Government Bond 3.27% 19/11/2030 CNY 41,300,000 5,471,344 0.61 China Government Bond 2.8% 15/11/2032 CNY 85,000,000 11,079,535 1.23 China Government Bond 2.44% 15/10/2027 CNY 91,810,000 11,393,085 1.26 China Government Bond 2.52% 25/08/2033 CNY 86,900,000 11,143,458 1.23 China Government Bond 2.57% 20/05/2054 CNY 62,000,000 7,877,086 0.87 China Government Bond 2.27% 25/05/2034 CNY 23,000,000 2,898,508 0.32 China Government Bond 2.49% 25/05/2044 CNY 14,500,000 1,807,901 0.20 51,670,917 5.72 Colombia Colombian TES 7.25% 18/10/2034 COP 12,551,700,000 2,013,823 0.22 Colombian TES 6% 28/04/2028 COP 25,000,000,000 4,933,965 0.55 Colombian TES 9.25% 28/05/2042 COP 44,244,300,000 7,448,732 0.83 Colombian TES 13.25% 09/02/2033 COP 42,371,800,000 9,628,233 1.07

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Colombian TES 11.5% 25/07/2046 COP 6,572,700,000 1,332,992 0.15 Colombian TES 11% 22/08/2029 COP 39,676,200,000 8,453,348 0.94 33,811,093 3.76 Czech Republic Czech Republic Government Bond 2% 13/10/2033 CZK 420,000,000 14,625,462 1.62 Czech Republic Government Bond, Reg. S 4.85% 26/11/2057 CZK 70,500,000 2,755,412 0.31 17,380,874 1.93 Dominican Republic Dominican Republic International Bond, Reg. S 11.25% 15/09/2035 DOP 108,300,000 1,630,478 0.18 1,630,478 0.18 Egypt Egypt Government Bond 25.318% 13/08/2027 EGP 670,000,000 12,333,682 1.37 Egypt Treasury Bills 0% 31/03/2026 EGP 550,000,000 9,296,061 1.03 21,629,743 2.40 Hungary Hungary Government Bond 6.75% 22/10/2028 HUF 2,880,990,000 7,613,610 0.84 Hungary Government Bond 3% 27/10/2027 HUF 1,599,480,000 3,950,340 0.44 Hungary Government Bond 2.25% 22/06/2034 HUF 3,500,000,000 6,551,622 0.73 18,115,572 2.01 India India Government Bond 7.18% 14/08/2033 INR 1,255,620,000 12,284,737 1.36 India Government Bond 7.3% 19/06/2053 INR 1,600,000,000 15,202,832 1.68 India Government Bond 7.18% 24/07/2037 INR 600,000,000 5,827,566 0.65 India Government Bond 7.1% 18/04/2029 INR 1,683,020,000 16,450,104 1.82 India Government Bond 6.79% 07/10/2034 INR 1,186,310,000 11,351,815 1.26 India Government Bond 7.02% 18/06/2031 INR 140,000,000 1,358,895 0.15 India Government Bond 7.32% 13/11/2030 INR 800,000,000 7,887,542 0.87 India Government Bond 6.67% 17/12/2050 INR 200,000,000 1,757,310 0.19 India Government Bond 6.1% 12/07/2031 INR 300,000,000 2,798,499 0.31 India Government Bond 6.33% 05/05/2035 INR 450,000,000 4,196,948 0.46 India Government Bond 6.79% 30/12/2031 INR 570,000,000 5,471,103 0.61 84,587,351 9.36 Indonesia Indonesia Treasury Bond 7.5% 15/06/2035 IDR 125,000,000,000 6,989,894 0.77 Indonesia Treasury Bond 6.125% 15/05/2028 IDR 97,411,000,000 5,062,408 0.56 Indonesia Treasury Bond 8.375% 15/03/2034 IDR 50,000,000,000 2,914,554 0.32 Indonesia Treasury Bond 7.5% 15/04/2040 IDR 110,000,000,000 6,144,373 0.68

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Indonesia Treasury Bond 6.5% 15/02/2031 IDR 225,000,000,000 11,828,253 1.31 Indonesia Treasury Bond 7.125% 15/06/2042 IDR 126,048,000,000 6,829,014 0.76 Indonesia Treasury Bond 8.25% 15/05/2036 IDR 100,000,000,000 5,877,864 0.65 Indonesia Treasury Bond 5.5% 15/04/2026 IDR 104,867,000,000 5,366,950 0.59 Indonesia Treasury Bond 7% 15/02/2033 IDR 432,000,000,000 23,235,076 2.57 Indonesia Treasury Bond 6.875% 15/04/2029 IDR 118,037,000,000 6,289,754 0.70 Indonesia Treasury Bond 6.625% 15/02/2034 IDR 50,000,000,000 2,642,454 0.29 Indonesia Treasury Bond 7.125% 15/06/2043 IDR 25,000,000,000 1,354,446 0.15 84,535,040 9.35 Malaysia Malaysia Government Bond 3.885% 15/08/2029 MYR 77,000,000 16,536,915 1.83 Malaysia Government Bond 4.893% 08/06/2038 MYR 66,587,000 15,587,872 1.73 Malaysia Government Bond 3.828% 05/07/2034 MYR 62,000,000 13,340,539 1.48 Malaysia Government Bond 2.632% 15/04/2031 MYR 38,000,000 7,702,486 0.85 Malaysia Government Bond 4.762% 07/04/2037 MYR 33,000,000 7,636,709 0.85 Malaysia Government Bond 4.065% 15/06/2050 MYR 20,630,000 4,415,266 0.49 Malaysia Government Bond 4.457% 31/03/2053 MYR 8,383,000 1,905,489 0.21 Malaysia Government Bond 4.054% 18/04/2039 MYR 45,000,000 9,724,940 1.08 Malaysia Government Investment Issue 4.07% 30/09/2026 MYR 30,000,000 6,350,394 0.70 83,200,610 9.22 Mexico Mexican Bonos 8.5% 18/11/2038 MXN 263,000,000 11,690,217 1.30 Mexican Bonos 7.75% 29/05/2031 MXN 220,000,000 10,045,534 1.11 Mexican Bonos 7.75% 13/11/2042 MXN 385,000,000 15,604,750 1.73 Mexican Bonos 8% 31/07/2053 MXN 685,000,000 27,705,304 3.07 Mexican Bonos 8.5% 01/03/2029 MXN 230,000,000 10,993,686 1.22 Mexican Bonos 7% 03/09/2026 MXN 257,207,700 12,153,281 1.35 88,192,772 9.78 Peru Peru Government Bond 5.94% 12/02/2029 PEN 8,086,000 2,145,480 0.24 Peru Government Bond 5.4% 12/08/2034 PEN 55,000,000 13,883,430 1.54 Peruvian Government International Bond, Reg. S 6.9% 12/08/2037 PEN 9,500,000 2,516,839 0.28 18,545,749 2.06 Poland Republic of Poland Government Bond 1.25% 25/10/2030 PLN 103,000,000 21,099,083 2.34

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Republic of Poland Government Bond 6% 25/10/2033 PLN 61,500,000 15,584,626 1.73 Republic of Poland Government Bond 5% 25/10/2034 PLN 26,000,000 6,135,871 0.68 Republic of Poland Government Bond 5% 25/10/2035 PLN 18,000,000 4,218,415 0.47 47,037,995 5.22 Romania Romania Government Bond 4.15% 24/10/2030 RON 92,000,000 16,292,357 1.81 Romania Government Bond 4.85% 25/07/2029 RON 61,315,000 11,362,270 1.26 27,654,627 3.07 Serbia Serbia Treasury Bonds 4.5% 20/08/2032 RSD 400,000,000 3,332,432 0.37 3,332,432 0.37 South Africa Republic of South Africa Government Bond 8.75% 28/02/2048 ZAR 195,000,000 9,637,138 1.07 Republic of South Africa Government Bond 8.25% 31/03/2032 ZAR 404,000,000 21,259,829 2.36 Republic of South Africa Government Bond 8.75% 31/01/2044 ZAR 445,000,000 21,892,742 2.43 Republic of South Africa Government Bond 9% 31/01/2040 ZAR 110,000,000 5,667,737 0.63 Republic of South Africa Government Bond 11.625% 31/03/2053 ZAR 36,000,000 2,335,346 0.26 60,792,792 6.75 Thailand Thailand Government Bond 1.585% 17/12/2035 THB 128,826,000 3,476,970 0.39 Thailand Government Bond 2% 17/06/2042 THB 360,000,000 9,519,969 1.05 Thailand Government Bond 3.35% 17/06/2033 THB 245,000,000 7,536,453 0.83 Thailand Government Bond 1.6% 17/12/2029 THB 227,255,000 6,234,267 0.69 Thailand Government Bond 3.45% 17/06/2043 THB 170,000,000 5,371,994 0.60 Thailand Government Bond 2.4% 17/03/2029 THB 319,882,000 8,981,513 1.00 Thailand Government Bond 2.8% 17/06/2034 THB 100,000,000 2,966,884 0.33 Thailand Government Bond 2.41% 17/03/2035 THB 290,000,000 8,389,363 0.93 52,477,413 5.82 Turkey Turkiye Government Bond 10.6% 11/02/2026 TRY 95,500,000 1,844,438 0.20 Turkiye Government Bond 12.4% 08/03/2028 TRY 10,000,000 137,414 0.01 Turkiye Government Bond 17.3% 19/07/2028 TRY 332,000,000 5,048,983 0.56 Turkiye Government Bond 37% 18/02/2026 TRY 200,000,000 3,975,699 0.44 Turkiye Government Bond 10.5% 11/08/2027 TRY 310,000,000 4,463,396 0.49

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Turkiye Government Bond 17.8% 13/07/2033 TRY 174,187,000 2,440,376 0.27 Turkiye Government Bond 30% 12/09/2029 TRY 570,000,000 11,006,379 1.22 Turkiye Government Bond 36% 12/08/2026 TRY 550,000,000 10,990,031 1.22 Turkiye Government Bond 32.6% 10/02/2027 TRY 92,000,000 1,796,290 0.20 Turkiye Government Bond 37.84% 14/07/2027 TRY 316,000,000 6,522,587 0.72 48,225,593 5.33 Ukraine Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2034 USD 11,000,001 4,471,473 0.50 Ukraine Government International Bond, STEP, Reg. S 0% 01/02/2035 USD 8,000,000 3,858,245 0.43 8,329,718 0.93 Uruguay Uruguay Government International Bond 9.75% 20/07/2033 UYU 131,776,543 3,226,314 0.36 3,226,314 0.36 Total Bonds 835,221,090 92.57 Total Transferable securities and money market instruments admitted to an official exchange listing 835,221,090 92.57 Other transferable securities and money market instruments Bonds Ukraine Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2036 § USD 1 1 Ukraine Government International Bond, STEP, Reg. S 4.5% 01/02/2035 § USD 1 - 1Total Bonds 1 Total Other transferable securities and money market instruments 1 -

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 103 10,910 Aviva Investors Liquidity Funds plc - Sterling Liquidity Fund † GBP 100,000 114,526 0.01 Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 27,900,000 23,755,801 2.64 23,881,237 2.65 Total Collective Investment Schemes 23,881,237 2.65 Total Units of authorised UCITS or other collective investment undertakings 23,881,237 2.65 Total investments 859,102,328 95.22 Cash/(bank overdraft) 21,182,073 2.35 Other assets/(liabilities) 21,929,974 2.43 Total net assets 902,214,375 100.00 § Security is valued at its fair value under the direction of the Board of Directors. † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets CLP 2,243,610,501 USD 2,428,574 18/03/2026 Goldman Sachs 54,004 CNH 305,783,453 USD 43,550,962 18/03/2026 Morgan Stanley 391,246 0.04

CZK 549,241,052 USD 26,410,572 18/03/2026 Canadian Imperial Bank of Commerce 260,737 0.03 DOP 58,540,890 USD 904,254 18/03/2026 Citigroup 8,533 HUF 540,734,449 USD 1,630,248 18/03/2026 HSBC 12,901 IDR 57,120,291,582 USD 3,413,162 17/03/2026 Goldman Sachs 584 INR 253,317,417 USD 2,794,832 18/03/2026 HSBC 2,951 KZT 4,500,000,000 USD 8,269,390 18/03/2026 Deutsche Bank 337,890 0.04 KZT 1,450,000,000 USD 2,714,593 18/03/2026 Goldman Sachs 66,448 0.01 KZT 1,450,000,000 USD 2,702,451 18/03/2026 Merrill Lynch 76,749 0.01 MXN 535,657,452 USD 29,143,496 18/03/2026 Merrill Lynch 356,979 0.04 MYR 24,513,699 USD 5,983,767 18/03/2026 Standard Chartered Bank 68,104 0.01 PLN 108,729,507 USD 29,925,045 18/03/2026 Morgan Stanley 259,102 0.03 THB 824,486,153 USD 26,013,746 18/03/2026 BNP Paribas 261,316 0.03 ZAR 506,967,313 USD 29,576,297 18/03/2026 HSBC 720,628 0.08 ZAR 87,993,448 USD 5,166,002 18/03/2026 Morgan Stanley 97,512 0.01 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 2,975,684 0.33 BRL 20,000,000 USD 3,618,508 18/03/2026 Goldman Sachs (29,653) -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets EUR 2,400,000 USD 2,832,051 18/03/2026 Citigroup (2,579) USD 9,130,082 BRL 51,000,000 18/03/2026 Goldman Sachs (6,771) USD 4,143,178 COP 16,207,326,248 18/03/2026 Deutsche Bank (31,914) (0.01) USD 4,598,936 EUR 3,932,619 18/03/2026 Standard Chartered Bank (31,099) USD 15,407,218 MXN 280,000,000 18/03/2026 Goldman Sachs (39,608) (0.01) USD 10,462,267 MXN 190,000,000 18/03/2026 Merrill Lynch (20,626) USD 532,308 PEN 1,800,000 18/03/2026 Deutsche Bank (1,187) USD 308,007 RON 1,353,209 18/03/2026 Deutsche Bank (2,278) USD 1,087,523 RSD 110,000,000 18/03/2026 Deutsche Bank (10,619) USD 2,099,720 UYU 83,400,872 18/03/2026 Deutsche Bank (20,307) USD 10,361,493 ZAR 174,883,886 18/03/2026 Goldman Sachs (113,847) (0.01) USD 10,642,198 ZAR 180,000,000 18/03/2026 Morgan Stanley (136,192) (0.02) Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (446,680) (0.05) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 2,529,004 0.28

Option Purchased Contracts

Quantity Security Description Currency Counterparty Market Value EUR % of Net Assets 50,000,000 USD/MXN, Put, 17.720, 17/02/2026 USD Morgan Stanley 116,374 0.01 Total Market Value on Option Purchased Contracts - Assets 116,374 0.01

Credit Default Swap Contracts

Nominal Amount Currency Counterparty Reference Entity Buy/Sell

Interest (Paid)/ Received Rate Maturity Date Market Value EUR % of Net Assets (25,000,000) USD Barclays CDX.EM.44.V1 Buy 1.000% 20/12/2030 228,893 0.03 (37,500,000) USD Goldman Sachs CDX.EM.44.V1 Buy 1.000% 20/12/2030 343,340 0.04

(15,000,000) USD Morgan Stanley Turkey Government Bond 11.88% 20/12/2030 Buy 1.000% 20/12/2030 580,028 0.06 Total Market Value on Credit Default Swap Contracts - Assets 1,152,261 0.13

Interest Rate Swap Contracts

Nominal Amount Currency Counterparty Security Description Maturity Date Market Value EUR % of Net Assets 89,991,402 BRL Barclays Pay floating BROIS 1 day Receive fixed 13.2% 03/01/2028 3,900 150,000,000 CNY Barclays Pay floating CNY CNRR 3 month Receive fixed 1.54% 18/03/2028 17,972 230,000,000 CNY Barclays Pay floating CNY CNRR 3 month Receive fixed 1.63% 18/03/2031 45,324 0.01

850,000,000 THB Barclays Pay floating THB-THOR-OIS Compound 1 day Receive fixed 1.2% 18/03/2028 66,880 0.01 270,000,000 CZK Barclays Pay floating PRIBOR 6 month Receive fixed 4.06% 18/03/2031 108,183 0.01 Total Market Value on Interest Rate Swap Contracts - Assets 242,259 0.03 660,000,000 CZK Barclays Pay floating PRIBOR 6 month Receive fixed 4.004% 06/06/2035 (426,632) (0.05) (1,400,000,000) CZK Barclays Pay fixed 3.797% Receive floating PRIBOR 6 month 18/03/2028 (249,707) (0.03) 210,000,000 CZK Barclays Pay floating PRIBOR 6 month Receive fixed 4.085% 12/06/2035 (108,721) (0.01) (35,974,112) BRL Barclays Pay fixed 13.39% Receive floating BROIS 1 day 02/01/2031 (25,090) Total Market Value on Interest Rate Swap Contracts - Liabilities (810,150) (0.09) Net Market Value on Interest Rate Swap Contracts - Liabilities (567,891) (0.06)

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Bonds Australia Australia & New Zealand Banking Group Ltd., Reg. S, FRN 1.809% 16/09/2031 GBP 4,594,000 6,070,682 1.13 Commonwealth Bank of Australia, Reg. S, FRN 3.788% 26/08/2037 EUR 2,585,000 3,019,885 0.56 NSW Electricity Networks Finance Pty Ltd., Reg. S, FRN 6.296% 20/11/2055 AUD 1,800,000 1,186,070 0.22 10,276,637 1.91 Belgium Elia Group SA, Reg. S 3.875% 11/06/2031 EUR 7,000,000 8,382,157 1.56 8,382,157 1.56 Cayman Islands Gaci First Investment Co., Reg. S 3.375% 14/10/2032 EUR 3,700,000 4,296,388 0.80 4,296,388 0.80 Finland Teollisuuden Voima Oyj, Reg. S 3.625% 18/03/2033 EUR 2,244,000 2,623,940 0.49 2,623,940 0.49 France AXA SA, Reg. S, FRN 5.125% Perpetual EUR 5,014,000 5,893,135 1.10 BNP Paribas SA, Reg. S, FRN 5.125% Perpetual USD 5,300,000 5,223,777 0.97 BNP Paribas SA, Reg. S, FRN 7% Perpetual AUD 5,000,000 3,344,786 0.62 Electricite de France SA, Reg. S, FRN 2.875% Perpetual EUR 5,400,000 6,319,357 1.18 Electricite de France SA, Reg. S, FRN 4.375% Perpetual EUR 2,000,000 2,327,788 0.43 L'Oreal SA, 144A 5% 20/05/2035 USD 3,400,000 3,477,173 0.65 Nexans SA, Reg. S 4.125% 29/05/2029 EUR 3,100,000 3,739,224 0.70 Nexans SA, Reg. S 4.25% 11/03/2030 EUR 1,700,000 2,065,186 0.38 SPIE SA, Reg. S 3.75% 28/05/2030 EUR 4,000,000 4,747,644 0.88 37,138,070 6.91 Germany Deutsche Bank AG, Reg. S, FRN 5% 26/02/2029 GBP 3,400,000 4,621,141 0.86 Eurogrid GmbH, Reg. S 4.056% 28/05/2037 EUR 2,000,000 2,361,174 0.44 RWE AG, Reg. S, FRN 4.125% 18/06/2055 EUR 1,400,000 1,657,892 0.31 8,640,207 1.61 Ireland Smurfit Westrock Financing DAC 5.185% 15/01/2036 USD 4,286,000 4,318,879 0.80 4,318,879 0.80 Italy Enel SpA, Reg. S, FRN 6.375% Perpetual EUR 2,188,000 2,744,669 0.51 Enel SpA, Reg. S, FRN 4.25% Perpetual EUR 1,508,000 1,798,377 0.33 Intesa Sanpaolo SpA, Reg. S, FRN 7.75% Perpetual EUR 1,500,000 1,836,651 0.34

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Intesa Sanpaolo SpA, Reg. S, FRN 6.375% Perpetual EUR 1,500,000 1,845,344 0.34 Prysmian SpA, Reg. S 3.875% 28/11/2031 EUR 1,816,000 2,185,630 0.41 UniCredit SpA, Reg. S, FRN 5.305% 31/07/2032 GBP 6,600,000 9,056,311 1.69 19,466,982 3.62 Luxembourg Logicor Financing SARL, Reg. S 2% 17/01/2034 EUR 5,469,000 5,514,077 1.03 5,514,077 1.03 Netherlands EnBW International Finance BV, Reg. S 5.792% 26/02/2036 AUD 5,000,000 3,266,165 0.61 Enexis Holding NV, Reg. S 3.25% 09/04/2033 EUR 2,297,000 2,685,099 0.50 GXO Logistics Capital BV 3.75% 24/11/2030 EUR 3,719,000 4,360,457 0.81 Iberdrola International BV, Reg. S, FRN 1.874% Perpetual EUR 4,600,000 5,396,372 1.00 ING Groep NV, Reg. S, FRN 1% 16/11/2032 EUR 3,600,000 4,092,247 0.76 Upjohn Finance BV, Reg. S 1.908% 23/06/2032 EUR 2,734,000 2,821,179 0.53 22,621,519 4.21 Portugal EDP SA, Reg. S, FRN 5.943% 23/04/2083 EUR 800,000 990,265 0.18 990,265 0.18 Singapore Pfizer Investment Enterprises Pte Ltd. 5.3% 19/05/2053 USD 2,571,000 2,436,124 0.45 2,436,124 0.45 Spain Banco Bilbao Vizcaya Argentaria SA 5.381% 13/03/2029 USD 4,500,000 4,670,052 0.87 Banco Santander SA 5.127% 06/11/2035 USD 2,600,000 2,600,091 0.48 Banco Santander SA, Reg. S, FRN 2.25% 04/10/2032 GBP 5,600,000 7,259,531 1.35 CaixaBank SA, Reg. S, FRN 5.875% Perpetual EUR 1,600,000 1,877,739 0.35 Cellnex Finance Co. SA, Reg. S 2% 15/02/2033 EUR 4,600,000 4,832,950 0.90 21,240,363 3.95 United Kingdom Barclays plc, FRN 4.476% 11/11/2029 USD 2,680,000 2,695,148 0.50 Barclays plc, Reg. S, FRN 8.407% 14/11/2032 GBP 2,844,000 4,066,497 0.76 British Telecommunications plc, Reg. S 3.125% 11/02/2032 EUR 2,900,000 3,357,666 0.63 British Telecommunications plc, Reg. S, FRN 5.125% 03/10/2054 EUR 2,734,000 3,342,914 0.62 British Telecommunications plc, Reg. S, FRN 6.375% 03/12/2055 GBP 3,168,000 4,364,318 0.81 Coca-Cola Europacific Partners plc, Reg. S 3.125% 25/09/2032 EUR 3,834,000 4,451,474 0.83 HSBC Holdings plc, FRN 5.286% 19/11/2030 USD 3,160,000 3,261,488 0.61

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets HSBC Holdings plc, Reg. S, FRN 4.599% 22/03/2035 EUR 1,532,000 1,866,068 0.35 HSBC Holdings plc, Reg. S, FRN 5.813% 22/05/2033 GBP 3,624,000 5,085,678 0.95 LSEG Finance plc, Reg. S 4.875% 19/09/2032 GBP 1,874,000 2,531,078 0.47 NatWest Group plc, Reg. S, FRN 2.105% 28/11/2031 GBP 5,469,000 7,241,419 1.35 SSE plc, Reg. S, FRN 4% Perpetual EUR 4,525,000 5,388,166 1.00 SSE plc, Reg. S, FRN 4% Perpetual EUR 3,125,000 3,688,619 0.69 Standard Chartered plc, FRN, 144A 5.005% 15/10/2030 USD 2,822,000 2,883,508 0.54 Standard Chartered plc, Reg. S, FRN 1.2% 23/09/2031 EUR 6,453,000 7,481,729 1.39 Tritax Big Box REIT plc, Reg. S 4.75% 12/11/2032 GBP 2,858,000 3,818,366 0.71 Vodafone Group plc, Reg. S, FRN 8% 30/08/2086 GBP 2,704,000 3,977,140 0.74 69,501,276 12.95 United States of America AbbVie, Inc. 5.05% 15/03/2034 USD 2,544,000 2,615,287 0.49 AbbVie, Inc. 5.4% 15/03/2054 USD 1,502,000 1,461,510 0.27 Ashtead Capital, Inc., 144A 5.95% 15/10/2033 USD 2,325,000 2,461,158 0.46 Ashtead Capital, Inc., 144A 5.55% 30/05/2033 USD 655,000 676,135 0.13 AT&T, Inc. 3.65% 01/06/2051 USD 1,745,000 1,228,016 0.23 AT&T, Inc. 4.3% 18/11/2034 EUR 1,422,000 1,733,836 0.32 AT&T, Inc. 5.7% 01/11/2054 USD 4,534,000 4,351,857 0.81 Citigroup, Inc., FRN 2.928% 22/10/2030 EUR 1,700,000 1,982,908 0.37 Citigroup, Inc., Reg. S, FRN 3.75% 14/05/2032 EUR 2,644,000 3,156,076 0.59 Consolidated Edison Co. of New York, Inc. 5.5% 15/03/2055 USD 2,174,000 2,112,606 0.39 CRH America Finance, Inc. 5.5% 09/01/2035 USD 3,700,000 3,853,939 0.72 CVS Health Corp. 5.875% 01/06/2053 USD 1,355,000 1,316,649 0.25 CVS Health Corp. 5.45% 15/09/2035 USD 2,785,000 2,851,803 0.53 Digital Euro Finco LLC, Reg. S 4.25% 20/11/2037 EUR 3,881,000 4,446,175 0.83 Eli Lilly & Co. 5.5% 12/02/2055 USD 2,249,000 2,253,536 0.42 Ford Motor Credit Co. LLC 5.8% 08/03/2029 USD 3,570,000 3,648,862 0.68 Ford Motor Credit Co. LLC 6.184% 29/08/2031 GBP 3,400,000 4,655,404 0.87 General Motors Financial Co., Inc. 5.75% 08/02/2031 USD 3,340,000 3,514,851 0.65 General Motors Financial Co., Inc. 4.9% 06/10/2029 USD 1,751,000 1,779,245 0.33 General Motors Financial Co., Inc., Reg. S 4% 10/07/2030 EUR 1,720,000 2,081,319 0.39 Goldman Sachs Group, Inc. (The), Reg. S, FRN 3.5% 23/01/2033 EUR 1,656,000 1,946,538 0.36 Lowe's Cos., Inc. 4.05% 03/05/2047 USD 3,700,000 2,930,327 0.55 Medtronic, Inc. 4.2% 15/10/2045 EUR 1,300,000 1,487,987 0.28

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Morgan Stanley, FRN 4.656% 02/03/2029 EUR 1,721,000 2,099,673 0.39 Morgan Stanley, FRN 3.521% 22/05/2031 EUR 2,792,000 3,317,201 0.62 Mosaic Co. (The) 5.375% 15/11/2028 USD 4,593,000 4,740,332 0.88 NextEra Energy Capital Holdings, Inc., FRN 3.996% 15/05/2056 EUR 3,776,000 4,424,440 0.82 Oracle Corp. 2.875% 25/03/2031 USD 4,593,000 4,128,909 0.77 Oracle Corp. 6% 03/08/2055 USD 2,768,000 2,443,201 0.46 Oracle Corp. 5.95% 26/09/2055 USD 1,655,000 1,467,418 0.27 RTX Corp. 6.4% 15/03/2054 USD 1,742,000 1,918,309 0.36 T-Mobile USA, Inc. 3.5% 11/02/2037 EUR 2,703,000 3,046,887 0.57 T-Mobile USA, Inc. 3.8% 11/02/2045 EUR 2,897,000 3,088,343 0.58 UnitedHealth Group, Inc. 4.75% 15/05/2052 USD 3,128,000 2,702,459 0.50 UnitedHealth Group, Inc. 5.95% 15/06/2055 USD 1,000,000 1,027,541 0.19 Verizon Communications, Inc. 1.3% 18/05/2033 EUR 2,734,000 2,748,249 0.51 Verizon Communications, Inc., FRN 3.996% 15/06/2056 EUR 3,200,000 3,742,463 0.70 Verizon Communications, Inc., FRN 5.742% 15/06/2056 GBP 3,800,000 5,114,457 0.95 104,555,906 19.49 Total Bonds 322,002,790 59.96 Total Transferable securities and money market instruments admitted to an official exchange listing 322,002,790 59.96 Transferable securities and money market instruments dealt in on another regulated market Bonds Canada Bell Telephone Co. of Canada or Bell Canada, FRN 7% 15/09/2055 USD 5,500,000 5,782,672 1.08 5,782,672 1.08 Denmark Danske Bank A/S, FRN, 144A 5.019% 04/03/2031 USD 4,206,000 4,297,201 0.80 4,297,201 0.80 France Credit Agricole SA, FRN, 144A 5.222% 27/05/2031 USD 1,247,000 1,280,677 0.24 Societe Generale SA, FRN, 144A 5.249% 22/05/2029 USD 6,300,000 6,427,994 1.20 7,708,671 1.44 Hong Kong AIA Group Ltd., Reg. S, FRN 2.7% Perpetual USD 5,469,000 5,442,475 1.01 5,442,475 1.01 Ireland Smurfit Westrock Financing DAC 5.418% 15/01/2035 USD 5,513,000 5,679,131 1.06 5,679,131 1.06 Italy Intesa Sanpaolo SpA, 144A 5.71% 15/01/2026 USD 1,975,000 1,975,986 0.37 1,975,986 0.37

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Switzerland UBS Group AG, FRN, 144A 5.617% 13/09/2030 USD 3,916,000 4,091,958 0.76 UBS Group AG, FRN, 144A 5.58% 09/05/2036 USD 1,568,000 1,631,074 0.30 5,723,032 1.06 United Kingdom HSBC Holdings plc, FRN 6% Perpetual USD 3,000,000 3,035,163 0.57 3,035,163 0.57 United States of America AEP Texas, Inc. 5.85% 15/10/2055 USD 2,000,000 1,965,327 0.37 Amazon.com, Inc. 5.45% 20/11/2055 USD 4,800,000 4,688,312 0.87 American Tower Corp. 4.7% 15/12/2032 USD 5,468,000 5,470,825 1.02 Amgen, Inc. 5.65% 02/03/2053 USD 2,500,000 2,449,684 0.46 Bank of America Corp., FRN 3.97% 05/03/2029 USD 4,576,000 4,569,560 0.85 Bank of America Corp., FRN 2.572% 20/10/2032 USD 7,624,000 6,878,053 1.28 Bank of America Corp., FRN 5.464% 09/05/2036 USD 3,419,000 3,560,556 0.66 CCO Holdings LLC, 144A 4.25% 15/01/2034 USD 3,500,000 2,979,285 0.55 Charter Communications Operating LLC 6.384% 23/10/2035 USD 3,000,000 3,098,756 0.58 Charter Communications Operating LLC 5.375% 01/04/2038 USD 2,734,000 2,522,890 0.47 Charter Communications Operating LLC 6.55% 01/06/2034 USD 1,210,000 1,273,075 0.24 Citigroup, Inc., FRN 2.976% 05/11/2030 USD 2,756,000 2,626,310 0.49 Citigroup, Inc., FRN 4.786% 04/03/2029 USD 6,429,000 6,521,964 1.21 Constellation Energy Generation LLC 5.75% 15/03/2054 USD 2,007,000 1,993,240 0.37 Coty Inc, 144A 5.6% 15/01/2031 USD 2,516,000 2,541,263 0.47 Exelon Corp. 5.875% 15/03/2055 USD 2,500,000 2,520,035 0.47 Goldman Sachs Group, Inc. (The), FRN 2.65% 21/10/2032 USD 4,029,000 3,638,122 0.68 Goldman Sachs Group, Inc. (The), FRN 4.692% 23/10/2030 USD 1,654,000 1,677,031 0.31 Goldman Sachs Group, Inc. (The), FRN 5.207% 28/01/2031 USD 4,408,000 4,555,469 0.85 Kraft Heinz Foods Co. 4.375% 01/06/2046 USD 4,000,000 3,307,662 0.62

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Mars, Inc., 144A 5.2% 01/03/2035 USD 5,442,000 5,595,435 1.04 Mars, Inc., 144A 5.7% 01/05/2055 USD 2,208,000 2,201,023 0.41 Meta Platforms, Inc. 4.875% 15/11/2035 USD 2,955,000 2,952,186 0.55 Morgan Stanley, FRN 5.123% 01/02/2029 USD 2,939,000 3,000,523 0.56 Morgan Stanley, FRN 5.192% 17/04/2031 USD 4,107,000 4,235,447 0.79 Oracle Corp. 5.2% 26/09/2035 USD 1,897,000 1,818,160 0.34 RWE Finance US LLC, 144A 5.125% 18/09/2035 USD 2,175,000 2,163,621 0.40 Sprint Capital Corp. 8.75% 15/03/2032 USD 5,510,000 6,667,203 1.24 Stellantis Finance US, Inc., 144A 5.75% 18/03/2030 USD 5,391,000 5,563,990 1.04 Stellantis Financial Services US Corp., 144A 5.4% 15/09/2030 USD 2,138,000 2,172,250 0.40 T-Mobile USA, Inc. 6% 15/06/2054 USD 2,175,000 2,222,448 0.41 T-Mobile USA, Inc. 5.5% 15/01/2055 USD 1,112,000 1,054,446 0.20 T-Mobile USA, Inc. 5.875% 15/11/2055 USD 1,829,000 1,834,913 0.34 Viatris, Inc. 2.7% 22/06/2030 USD 4,593,000 4,199,949 0.78 114,519,013 21.32 Total Bonds 154,163,344 28.71 Total Transferable securities and money market instruments dealt in on another regulated market 154,163,344 28.71 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 246,452 30,701,472 5.72 Aviva Investors Liquidity Funds plc - Sterling Liquidity Fund † GBP 2,300,000 3,093,615 0.57 Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 16,100,000 16,100,000 3.00 49,895,087 9.29 Total Collective Investment Schemes 49,895,087 9.29 Total Units of authorised UCITS or other collective investment undertakings 49,895,087 9.29 Total investments 526,061,221 97.97 Cash/(bank overdraft) 8,022,063 1.49 Other assets/(liabilities) 2,889,377 0.54 Total net assets 536,972,661 100.00 † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets AUD 244 USD 160 12/01/2026 BNY Mellon 3 AUD 244 USD 162 20/01/2026 BNY Mellon 1 AUD 244 USD 162 27/01/2026 BNY Mellon 1 CHF 219 USD 274 12/01/2026 BNY Mellon 3 CHF 219 USD 273 20/01/2026 BNY Mellon 4 CHF 219 USD 277 27/01/2026 BNY Mellon 1 -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets EUR 37,975,897 USD 44,168,551 12/01/2026 BNY Mellon 457,545 0.09 EUR 5,000,000 USD 5,837,375 13/01/2026 Morgan Stanley 38,485 0.01 EUR 7,000,000 USD 8,170,076 13/01/2026 Standard Chartered Bank 56,128 0.01 EUR 37,675,897 USD 43,964,908 20/01/2026 BNY Mellon 325,438 0.06 GBP 70,180,030 USD 92,597,700 12/01/2026 BNY Mellon 1,796,825 0.34 GBP 3,000,000 USD 4,004,340 13/01/2026 J.P. Morgan 30,756 0.01 GBP 66,976,303 USD 89,312,410 20/01/2026 BNY Mellon 771,922 0.14 GBP 66,599,544 USD 89,378,499 27/01/2026 BNY Mellon 198,155 0.03 USD 4 GBP 3 02/02/2026 BNY Mellon - Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 3,675,267 0.69 AUD 244 USD 163 02/02/2026 BNY Mellon (1) CHF 219 USD 280 02/02/2026 BNY Mellon (2) EUR 37,675,898 USD 44,388,235 27/01/2026 BNY Mellon (83,191) (0.01) EUR 37,675,897 USD 44,532,722 02/02/2026 BNY Mellon (215,104) (0.04) GBP 10,278 USD 13,853 12/01/2026 BNY Mellon (28) GBP 65,937,044 USD 89,107,600 02/02/2026 BNY Mellon (423,157) (0.08) USD 7,893,640 AUD 11,970,000 13/01/2026 Morgan Stanley (89,269) (0.02) USD 40,882 CAD 56,911 13/01/2026 Standard Chartered Bank (661) USD 349,634 EUR 300,000 12/01/2026 BNY Mellon (2,901) USD 51,312,078 EUR 43,903,649 13/01/2026 BNP Paribas (282,259) (0.05) USD 51,332,217 EUR 43,903,650 13/01/2026 Citigroup (262,121) (0.05) USD 51,328,322 EUR 43,903,649 13/01/2026 Royal Bank of Canada (266,015) (0.05) USD 51,293,205 EUR 43,903,650 13/01/2026 Standard Chartered Bank (301,134) (0.06) USD 5,679,295 GBP 4,253,267 12/01/2026 BNY Mellon (41,494) (0.01) USD 74,471,652 GBP 56,004,356 13/01/2026 Standard Chartered Bank (855,999) (0.16) USD 1,391,281 GBP 1,039,261 20/01/2026 BNY Mellon (6,544) USD 885,148 GBP 662,503 27/01/2026 BNY Mellon (5,922) Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (2,835,802) (0.53) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 839,465 0.16

Financial Futures Contracts

Security Description Number of Contracts Currency Unrealised Gain/(Loss) USD % of Net Assets Euro-Bobl, 06/03/2026 (148) EUR 88,647 0.02 Euro-BTP, 06/03/2026 (134) EUR 68,459 0.01 Euro-Buxl 30 Year Bond, 06/03/2026 (13) EUR 26,566 Euro-OAT Future, 06/03/2026 (134) EUR 88,131 0.02 Long Gilt, 27/03/2026 1 GBP 471 Total Unrealised Gain on Financial Futures Contracts - Assets 272,274 0.05 Australia 10 Year Bond, 16/03/2026 49 AUD (5,442) Canada 10 Year Bond, 20/03/2026 134 CAD (153,478) (0.03) Euro-Bund, 06/03/2026 171 EUR (65,112) (0.01) Euro-Schatz, 06/03/2026 264 EUR (41,857) (0.01) US 10 Year Note, 20/03/2026 144 USD (110,251) (0.02) US 10 Year Ultra Bond, 20/03/2026 124 USD (55,243) (0.01) US 2 Year Note, 31/03/2026 100 USD (9,765) US 5 Year Note, 31/03/2026 224 USD (76,406) (0.01) US Long Bond, 20/03/2026 93 USD (93,938) (0.02) US Ultra Bond, 20/03/2026 82 USD (135,031) (0.03) Total Unrealised Loss on Financial Futures Contracts - Liabilities (746,523) (0.14) Net Unrealised Loss on Financial Futures Contracts - Liabilities (474,249) (0.09)

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Credit Default Swap Contracts

Nominal Amount Currency Counterparty Reference Entity Buy/Sell

Interest (Paid)/ Received Rate Maturity Date Market Value USD % of Net Assets (30,000,000) EUR Deutsche Bank ITRAXX.EUROPE.MAIN.44.V1 Buy 1.000% 20/12/2030 (813,797) (0.15) Total Market Value on Credit Default Swap Contracts - Liabilities (813,797) (0.15)

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Equities China BYD Co. Ltd. 'H' HKD 248,300 3,023,231 0.92 3,023,231 0.92 France AXA SA EUR 245,339 11,791,999 3.59 Schneider Electric SE EUR 21,239 5,817,924 1.77 17,609,923 5.36 Germany Muenchener RueckversicherungsGesellschaft AG in Muenchen EUR 12,330 8,137,268 2.47 Siemens AG EUR 24,440 6,859,253 2.09 14,996,521 4.56 Ireland CRH plc USD 58,017 7,240,522 2.20 Linde plc USD 22,932 9,777,975 2.97 Trane Technologies plc USD 11,204 4,360,597 1.33 21,379,094 6.50 Japan Sony Group Corp. JPY 333,200 8,510,940 2.59 8,510,940 2.59 Netherlands ASM International NV EUR 11,275 6,792,443 2.07 ING Groep NV EUR 205,757 5,780,383 1.76 NXP Semiconductors NV USD 23,684 5,140,849 1.56 17,713,675 5.39 Switzerland Lonza Group AG CHF 13,987 9,461,215 2.88 9,461,215 2.88 Taiwan Taiwan Semiconductor Manufacturing Co. Ltd., ADR USD 25,396 7,717,590 2.35 7,717,590 2.35 United Kingdom AstraZeneca plc GBP 56,013 10,294,944 3.13 10,294,944 3.13 United States of America Alphabet, Inc. 'A' USD 64,221 20,101,173 6.11 Apple, Inc. USD 45,589 12,393,826 3.77 Autodesk, Inc. USD 14,046 4,157,756 1.26 Broadcom, Inc. USD 22,839 7,904,578 2.40

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Cadence Design Systems, Inc. USD 19,339 6,044,985 1.84 Danaher Corp. USD 36,394 8,331,314 2.53 Home Depot, Inc. (The) USD 13,742 4,728,622 1.44 Hubbell, Inc. USD 15,758 6,998,285 2.13 Microsoft Corp. USD 48,682 23,543,589 7.16 Moody's Corp. USD 25,760 13,159,496 4.00 NVIDIA Corp. USD 90,077 16,799,360 5.11 PepsiCo, Inc. USD 35,632 5,113,905 1.55 Procter & Gamble Co. (The) USD 47,178 6,761,079 2.06 PTC, Inc. USD 26,093 4,545,662 1.38 Public Service Enterprise Group, Inc. USD 86,848 6,973,894 2.12 Tapestry, Inc. USD 40,765 5,208,544 1.58 Tetra Tech, Inc. USD 145,903 4,893,587 1.49 Thermo Fisher Scientific, Inc. USD 11,615 6,730,312 2.05 T-Mobile US, Inc. USD 24,191 4,911,741 1.49 United Rentals, Inc. USD 3,556 2,877,942 0.88 Veralto Corp. USD 71,586 7,142,851 2.17 Visa, Inc. 'A' USD 24,888 8,728,470 2.65 Waste Management, Inc. USD 36,303 7,976,132 2.43 Westinghouse Air Brake Technologies Corp. USD 28,175 6,013,954 1.83 Xylem, Inc. USD 65,535 8,924,556 2.71 Zoetis, Inc. USD 27,691 3,484,082 1.06 214,449,695 65.20 Total Equities 325,156,828 98.88 Total Transferable securities and money market instruments admitted to an official exchange listing 325,156,828 98.88 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 3,408,159 3,408,158 1.03 3,408,158 1.03 Total Collective Investment Schemes 3,408,158 1.03 Total Units of authorised UCITS or other collective investment undertakings 3,408,158 1.03 Total investments 328,564,986 99.92 Cash/(bank overdraft) 121,357 0.04 Other assets/(liabilities) 152,445 0.04 Total net assets 328,838,788 100.00 † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets AUD 341 USD 223 12/01/2026 BNY Mellon 4 AUD 341 USD 227 20/01/2026 BNY Mellon 1 AUD 341 USD 226 27/01/2026 BNY Mellon 1 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 6AUD 341 USD 228 02/02/2026 BNY Mellon (1) Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (1) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 5-

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Equities Canada Canadian Pacific Kansas City Ltd. USD 97,952 7,212,206 1.84 7,212,206 1.84 China BYD Co. Ltd. 'H' HKD 471,700 5,743,286 1.47 5,743,286 1.47 France Danone SA EUR 89,124 8,036,475 2.05 L'Oreal SA EUR 16,054 6,891,326 1.76 Safran SA EUR 39,045 13,578,247 3.47 28,506,048 7.28 Hong Kong AIA Group Ltd. HKD 760,778 7,813,523 2.00 7,813,523 2.00 Ireland CRH plc USD 49,241 6,145,277 1.57 Linde plc USD 14,017 5,976,709 1.53 12,121,986 3.10 Japan Advantest Corp. JPY 75,000 9,461,957 2.42 BayCurrent, Inc. JPY 141,600 5,858,575 1.50 Sony Group Corp. JPY 201,500 5,146,922 1.31 20,467,454 5.23 Jersey Experian plc GBP 216,160 9,755,123 2.49 9,755,123 2.49 Netherlands Ferrari NV EUR 19,227 7,154,304 1.83 7,154,304 1.83 Spain Industria de Diseno Textil SA EUR 143,159 9,423,919 2.41 9,423,919 2.41 Taiwan Taiwan Semiconductor Manufacturing Co. Ltd., ADR USD 48,488 14,735,018 3.76 14,735,018 3.76

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets United Kingdom Reckitt Benckiser Group plc GBP 99,780 8,060,925 2.06 8,060,925 2.06 United States of America Abbott Laboratories USD 77,283 9,682,787 2.47 Alphabet, Inc. 'C' USD 101,980 32,001,324 8.17 Apple, Inc. USD 30,612 8,322,178 2.13 Automatic Data Processing, Inc. USD 30,682 7,892,331 2.02 AutoZone, Inc. USD 1,843 6,250,535 1.60 Broadcom, Inc. USD 42,548 14,725,863 3.76 Cintas Corp. USD 29,870 5,617,651 1.43 Colgate-Palmolive Co. USD 83,339 6,585,448 1.68 Costco Wholesale Corp. USD 7,400 6,381,316 1.63 Danaher Corp. USD 39,070 8,943,904 2.28 HCA Healthcare, Inc. USD 15,155 7,075,263 1.81 Hilton Worldwide Holdings, Inc. USD 36,816 10,575,396 2.70 JPMorgan Chase & Co. USD 30,949 9,972,387 2.55 MercadoLibre, Inc. USD 4,262 8,584,776 2.19 Microsoft Corp. USD 42,365 20,488,561 5.23 Moody's Corp. USD 21,297 10,879,572 2.78 Netflix, Inc. USD 60,820 5,702,483 1.46 NVIDIA Corp. USD 132,779 24,763,283 6.33 S&P Global, Inc. USD 20,713 10,824,407 2.76 Thermo Fisher Scientific, Inc. USD 16,690 9,671,021 2.47 Visa, Inc. 'A' USD 31,823 11,160,644 2.85 Walmart, Inc. USD 54,743 6,098,918 1.56 Waste Management, Inc. USD 32,965 7,242,740 1.85 Westinghouse Air Brake Technologies Corp. USD 44,775 9,557,224 2.44 259,000,012 66.15 Total Equities 389,993,804 99.62 Total Transferable securities and money market instruments admitted to an official exchange listing 389,993,804 99.62 Total investments 389,993,804 99.62 Cash/(bank overdraft) 1,363,714 0.35 Other assets/(liabilities) 131,450 0.03 Total net assets 391,488,968 100.00

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Equities Australia QBE Insurance Group Ltd. AUD 151,104 2,000,296 1.83 2,000,296 1.83 France AXA SA EUR 53,909 2,591,088 2.37 Cie de Saint-Gobain SA EUR 20,705 2,100,486 1.92 Schneider Electric SE EUR 7,989 2,188,399 2.00 TotalEnergies SE EUR 42,193 2,748,295 2.52 9,628,268 8.81 Germany Deutsche Telekom AG EUR 88,827 2,879,473 2.64 Fresenius SE & Co. KGaA EUR 47,106 2,709,473 2.48 Muenchener RueckversicherungsGesellschaft AG in Muenchen EUR 2,856 1,884,837 1.73 Siemens AG EUR 10,069 2,825,933 2.59 10,299,716 9.44 Hong Kong AIA Group Ltd. HKD 313,949 3,224,394 2.95 3,224,394 2.95 Ireland CRH plc USD 32,971 4,114,781 3.77 Linde plc USD 2,522 1,075,356 0.98 5,190,137 4.75 Italy Enel SpA EUR 258,580 2,692,456 2.46 2,692,456 2.46 Japan BayCurrent, Inc. JPY 35,800 1,481,193 1.36 Mitsubishi UFJ Financial Group, Inc. JPY 135,600 2,151,926 1.97 3,633,119 3.33 Jersey Experian plc GBP 41,895 1,890,687 1.73 1,890,687 1.73 Netherlands Magnum Ice Cream Co. NV (The) GBP 8,620 136,523 0.13 NXP Semiconductors NV USD 13,948 3,027,553 2.77 3,164,076 2.90 Spain Industria de Diseno Textil SA EUR 41,271 2,716,801 2.49 2,716,801 2.49 Switzerland Cie Financiere Richemont SA CHF 7,727 1,667,296 1.53 Novartis AG CHF 17,867 2,467,648 2.26 4,134,944 3.79

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Taiwan Taiwan Semiconductor Manufacturing Co. Ltd., ADR USD 14,886 4,523,706 4.14 4,523,706 4.14 United Kingdom Reckitt Benckiser Group plc GBP 37,289 3,012,466 2.76 Unilever plc GBP 39,100 2,550,910 2.33 5,563,376 5.09 United States of America Abbott Laboratories USD 18,171 2,276,645 2.08 Alphabet, Inc. 'C' USD 14,597 4,580,539 4.19 Analog Devices, Inc. USD 8,352 2,265,062 2.07 Automatic Data Processing, Inc. USD 10,148 2,610,370 2.39 Broadcom, Inc. USD 14,932 5,167,965 4.73 Colgate-Palmolive Co. USD 22,650 1,789,803 1.64 Danaher Corp. USD 9,800 2,243,416 2.05 Home Depot, Inc. (The) USD 4,913 1,690,563 1.55 Hubbell, Inc. USD 3,334 1,480,663 1.36 JPMorgan Chase & Co. USD 11,680 3,763,530 3.44 Merck & Co., Inc. USD 26,158 2,753,391 2.52 Microsoft Corp. USD 10,267 4,965,326 4.54 NVIDIA Corp. USD 11,408 2,127,592 1.95 Procter & Gamble Co. (The) USD 16,629 2,383,102 2.18 TJX Cos., Inc. (The) USD 11,693 1,796,162 1.64 Visa, Inc. 'A' USD 4,146 1,454,044 1.33 Westinghouse Air Brake Technologies Corp. USD 12,318 2,629,277 2.41 Zoetis, Inc. USD 14,588 1,835,462 1.68 47,812,912 43.75 Total Equities 106,474,888 97.46 Total Transferable securities and money market instruments admitted to an official exchange listing 106,474,888 97.46 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 943 117,534 0.11 Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 1,800,000 1,800,000 1.64 1,917,534 1.75 Total Collective Investment Schemes 1,917,534 1.75 Total Units of authorised UCITS or other collective investment undertakings 1,917,534 1.75 Total investments 108,392,422 99.21 Cash/(bank overdraft) 847,039 0.78 Other assets/(liabilities) 12,926 0.01 Total net assets 109,252,387 100.00 † Related Party Fund Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets EUR 129,506 USD 150,639 12/01/2026 BNY Mellon 1,546 EUR 129,507 USD 151,124 20/01/2026 BNY Mellon 1,119 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 2,665 -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets EUR 129,507 USD 152,579 27/01/2026 BNY Mellon (286) EUR 129,506 USD 153,076 02/02/2026 BNY Mellon (739) Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (1,025) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 1,640 -

Option Written Contracts

Quantity Security Description Currency Counterparty Market Value USD % of Net Assets (8) Abbott Laboratories, Call, 129.000, 02/01/2026 USD Morgan Stanley (8) (9) Abbott Laboratories, Call, 134.000, 09/01/2026 USD J.P. Morgan (477) (7) Alphabet, Inc., Call, 330.000, 16/01/2026 USD Morgan Stanley (1,001) (7) Alphabet, Inc., Call, 335.000, 09/01/2026 USD J.P. Morgan (126) (5) Alphabet, Inc., Put, 300.000, 02/01/2026 USD UBS (20) (5) Alphabet, Inc., Put, 300.000, 23/01/2026 USD UBS (1,345) (4) Analog Devices, Inc., Call, 295.000, 16/01/2026 USD Morgan Stanley (224) (4) Analog Devices, Inc., Call, 300.000, 09/01/2026 USD J.P. Morgan (120) (4) Analog Devices, Inc., Put, 260.000, 23/01/2026 USD UBS (1,080) (4) Analog Devices, Inc., Put, 265.000, 02/01/2026 USD UBS (48) (5) Automatic Data Processing, Inc., Call, 272.500, 16/01/2026 USD Morgan Stanley (225) (5) Automatic Data Processing, Inc., Call, 275.000, 23/01/2026 USD Morgan Stanley (250) (5) Automatic Data Processing, Inc., Call, 280.000, 09/01/2026 USD J.P. Morgan (440) (32) AXA SA, Call, 40.500, 02/01/2026 EUR Barclays (2,706) (0.01) (30) AXA SA, Call, 43.000, 23/01/2026 EUR Barclays (352) (32) AXA SA, Put, 40.000, 09/01/2026 EUR Barclays (489) (30) AXA SA, Put, 40.000, 16/01/2026 EUR Morgan Stanley (705) (10) Cie de Saint-Gobain SA, Call, 91.000, 02/01/2026 EUR Barclays (12) (10) Cie de Saint-Gobain SA, Call, 92.000, 23/01/2026 EUR Barclays (928) (10) Cie de Saint-Gobain SA, Call, 93.000, 16/01/2026 EUR Morgan Stanley (423) (10) Cie de Saint-Gobain SA, Call, 94.000, 09/01/2026 EUR Barclays (70) (18) Cie Financiere Richemont SA, Put, 156.000, 16/01/2026 CHF Barclays (2,476) (11) Colgate-Palmolive Co., Call, 80.000, 02/01/2026 USD Morgan Stanley (132) (11) Colgate-Palmolive Co., Call, 82.000, 09/01/2026 USD J.P. Morgan (154) (11) Colgate-Palmolive Co., Call, 82.000, 16/01/2026 USD Morgan Stanley (297) (17) CRH PLC, Call, 133.000, 16/01/2026 USD Morgan Stanley (867) (17) CRH PLC, Call, 138.000, 09/01/2026 USD J.P. Morgan (170) (16) CRH PLC, Call, 140.000, 02/01/2026 USD Morgan Stanley (880) (16) CRH PLC, Put, 127.000, 23/01/2026 USD UBS (4,800) (0.01) (5) Danaher Corp., Call, 245.000, 23/01/2026 USD Morgan Stanley (500) (5) Danaher Corp., Put, 225.000, 02/01/2026 USD UBS (75) (44) Deutsche Telekom AG, Call, 28.000, 09/01/2026 EUR Barclays (827) (43) Deutsche Telekom AG, Call, 28.500, 02/01/2026 EUR Barclays (50) (44) Deutsche Telekom AG, Call, 28.500, 16/01/2026 EUR Morgan Stanley (568) (44) Deutsche Telekom AG, Call, 29.000, 23/01/2026 EUR Barclays (517) (23) Fresenius SE & Co. KGaA, Call, 50.000, 02/01/2026 EUR Barclays (108) (23) Fresenius SE & Co. KGaA, Call, 50.500, 16/01/2026 EUR Morgan Stanley (459) (23) Fresenius SE & Co. KGaA, Call, 51.000, 09/01/2026 EUR Barclays (135) (2) Home Depot, Inc./The, Call, 370.000, 16/01/2026 USD Morgan Stanley (76) (2) Home Depot, Inc./The, Call, 375.000, 02/01/2026 USD Morgan Stanley (10) (2) Home Depot, Inc./The, Call, 375.000, 23/01/2026 USD Morgan Stanley (82) (2) Home Depot, Inc./The, Call, 385.000, 09/01/2026 USD J.P. Morgan (16) (6) Hubbell, Inc., Call, 480.000, 16/01/2026 USD Morgan Stanley (1,530) (21) Industria de Diseno Textil SA, Put, 54.000, 09/01/2026 EUR Barclays (248) (5) JPMorgan Chase & Co., Put, 312.500, 16/01/2026 USD Morgan Stanley (1,760) (5) Linde PLC, Call, 440.000, 16/01/2026 USD Morgan Stanley (1,065) (13) Merck & Co., Inc., Call, 110.000, 16/01/2026 USD Morgan Stanley (520) (13) Merck & Co., Inc., Call, 114.000, 23/01/2026 USD Morgan Stanley (507) (13) Merck & Co., Inc., Put, 95.000, 09/01/2026 USD Morgan Stanley (39) -

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Page 33

Option Written Contracts (continued)

Quantity Security Description Currency Counterparty Market Value USD % of Net Assets (5) Microsoft Corp., Call, 505.000, 16/01/2026 USD Morgan Stanley (615) (5) Microsoft Corp., Call, 510.000, 23/01/2026 USD Morgan Stanley (695) (5) Microsoft Corp., Call, 515.000, 02/01/2026 USD Morgan Stanley (5) (5) NVIDIA Corp., Call, 195.000, 09/01/2026 USD J.P. Morgan (490) (5) NVIDIA Corp., Call, 2,000.000, 16/01/2026 USD Morgan Stanley (550) (5) NVIDIA Corp., Call, 200.000, 02/01/2026 USD Morgan Stanley (10) (5) NVIDIA Corp., Call, 205.000, 23/01/2026 USD Morgan Stanley (485) (7) NXP Semiconductors NV, Call, 245.000, 23/01/2026 USD Morgan Stanley (644) (7) NXP Semiconductors NV, Call, 247.500, 16/01/2026 USD Morgan Stanley (364) (7) NXP Semiconductors NV, Call, 250.000, 09/01/2026 USD J.P. Morgan (700) (7) NXP Semiconductors NV, Put, 225.000, 02/01/2026 USD UBS (5,250) (0.01) (3) Schneider Electric SE, Call, 255.000, 02/01/2026 EUR Barclays (18) (3) Schneider Electric SE, Call, 255.000, 16/01/2026 EUR Morgan Stanley (236) (3) Schneider Electric SE, Call, 255.000, 23/01/2026 EUR Barclays (380) (3) Schneider Electric SE, Call, 260.000, 09/01/2026 EUR Barclays (60) (4) Siemens AG, Call, 255.000, 02/01/2026 EUR Barclays (5) (5) Siemens AG, Call, 255.000, 16/01/2026 EUR Morgan Stanley (276) (5) Siemens AG, Call, 255.000, 23/01/2026 EUR Barclays (470) (5) Siemens AG, Call, 260.000, 09/01/2026 EUR Barclays (18) (7) Taiwan Semiconductor Manufacturing Co., Ltd., Call, 315.000, 09/01/2026 USD J.P. Morgan (1,015) (7) Taiwan Semiconductor Manufacturing Co., Ltd., Call, 320.000, 16/01/2026 USD Morgan Stanley (2,646) (0.01) (7) Taiwan Semiconductor Manufacturing Co., Ltd., Call, 325.000, 23/01/2026 USD Morgan Stanley (2,506) (0.01) (6) TJX Cos., Inc./The, Call, 162.500, 02/01/2026 USD Morgan Stanley (6) (6) TJX Cos., Inc./The, Call, 162.500, 16/01/2026 USD Morgan Stanley (144) (6) TJX Cos., Inc./The, Call, 165.000, 23/01/2026 USD Morgan Stanley (222) (7) TJX Cos., Inc./The, Put, 155.000, 09/01/2026 USD Morgan Stanley (1,491) (2) Visa, Inc., Call, 345.000, 02/01/2026 USD Morgan Stanley (1,556) (2) Visa, Inc., Put, 345.000, 09/01/2026 USD Morgan Stanley (200) (2) Visa, Inc., Put, 350.000, 23/01/2026 USD UBS (806) (24) Westinghouse Air Brake Technologies Corp., Call, 230.000, 16/01/2026 USD Morgan Stanley (744) (29) Zoetis, Inc., Call, 135.000, 16/01/2026 USD Morgan Stanley (580) Total Market Value on Option Written Contracts - Liabilities (53,104) (0.05)

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Bonds Austria Benteler International AG, Reg. S 7.25% 15/06/2031 EUR 11,520,000 14,563,720 0.43 14,563,720 0.43 France Alstom SA, Reg. S, FRN 5.868% Perpetual EUR 22,800,000 28,410,976 0.85 Altice France SA, Reg. S 5.5% 15/10/2031 EUR 30,624,730 34,253,331 1.02 Electricite de France SA, Reg. S, FRN 7.375% Perpetual GBP 24,000,000 33,192,964 0.99 Forvia SE, Reg. S 5.625% 15/06/2030 EUR 29,440,000 36,150,389 1.08 iliad SA, Reg. S 5.375% 15/02/2029 EUR 6,000,000 7,428,822 0.22 iliad SA, Reg. S 4.25% 09/01/2032 EUR 13,700,000 16,260,116 0.49 La Financiere Atalian SAS 8.5% 30/06/2028 EUR 21,420,000 7,410,856 0.22 Paprec Holding SA, Reg. S 4.125% 15/07/2030 EUR 9,175,000 10,840,435 0.32 Renault SA, Reg. S 3.875% 30/09/2030 EUR 18,100,000 21,436,913 0.64 Rexel SA, Reg. S 4% 15/09/2030 EUR 16,871,000 20,126,855 0.60 SPIE SA, Reg. S 3.75% 28/05/2030 EUR 14,000,000 16,616,753 0.50 232,128,410 6.93 Germany Deutsche Bank AG, Reg. S, FRN 4.5% Perpetual EUR 10,800,000 12,663,797 0.38 Deutsche Bank AG, Reg. S, FRN 10% Perpetual EUR 5,000,000 6,448,942 0.19 Gruenenthal GmbH, Reg. S 4.625% 15/11/2031 EUR 9,000,000 10,713,870 0.32 IHO Verwaltungs GmbH, Reg. S 6.75% 15/11/2029 EUR 9,000,000 11,205,369 0.33 41,031,978 1.22 Gibraltar 888 Acquisitions Ltd., Reg. S 10.75% 15/05/2030 GBP 4,510,000 5,123,196 0.15 888 Acquisitions Ltd., Reg. S 8% 30/09/2031 EUR 5,600,000 5,296,884 0.16 10,420,080 0.31 Ireland Ardagh Metal Packaging Finance USA LLC, Reg. S 5% 30/01/2031 EUR 19,364,000 23,013,555 0.69 Flutter Treasury DAC, Reg. S 4% 04/06/2031 EUR 12,555,000 14,760,525 0.44 37,774,080 1.13 Isle of Man Entain plc, Reg. S 4.875% 30/11/2031 EUR 22,700,000 26,904,133 0.80 26,904,133 0.80 Italy Almaviva-The Italian Innovation Co. SpA, Reg. S 5% 30/10/2030 EUR 21,527,000 25,545,321 0.76 Banco BPM SpA, Reg. S, FRN 5% 18/06/2034 EUR 6,020,000 7,377,544 0.22

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Banco BPM SpA, Reg. S, FRN 7.25% Perpetual EUR 12,575,000 16,008,394 0.48 Fibercop SpA, Reg. S 5.125% 30/06/2032 EUR 8,361,000 10,007,223 0.30 Fibercop SpA, Reg. S 4.75% 30/06/2030 EUR 6,985,000 8,364,041 0.25 Intesa Sanpaolo SpA, Reg. S, FRN 7% Perpetual EUR 5,011,000 6,372,552 0.19 Lottomatica Group SpA, Reg. S 4.875% 31/01/2031 EUR 9,669,000 11,728,909 0.35 UniCredit SpA, Reg. S, FRN 5.375% 16/04/2034 EUR 3,800,000 4,717,956 0.14 UniCredit SpA, Reg. S, FRN 6.5% Perpetual EUR 9,769,000 12,259,719 0.37 Webuild SpA, Reg. S 5.375% 20/06/2029 EUR 6,320,000 7,874,859 0.24 Webuild SpA, Reg. S 4.125% 03/07/2031 EUR 23,790,000 28,438,848 0.85 138,695,366 4.15 Japan Rakuten Group, Inc., Reg. S, FRN 4.25% Perpetual EUR 5,000,000 5,698,985 0.17 SoftBank Group Corp., Reg. S 5.25% 10/10/2029 EUR 12,473,000 14,900,711 0.44 20,599,696 0.61 Jersey Ardonagh Finco Ltd., Reg. S 6.875% 15/02/2031 EUR 6,500,000 7,899,680 0.24 Biffa Group Holdings Ltd., Reg. S 7.375% 15/06/2031 GBP 12,000,000 16,320,051 0.49 Biffa Group Holdings Ltd., Reg. S 5.25% 15/06/2031 EUR 15,000,000 17,609,870 0.53 41,829,601 1.26 Luxembourg Altice Financing SA, Reg. S 3% 15/01/2028 EUR 12,276,000 10,006,674 0.30 Altice Financing SA, Reg. S 4.25% 15/08/2029 EUR 8,324,000 6,688,995 0.20 CPI Property Group SA, Reg. S, FRN 4.875% Perpetual EUR 16,300,000 18,275,348 0.55 CPI Property Group SA, Reg. S, FRN 7.5% Perpetual EUR 6,916,000 7,544,668 0.23 CPI Property Group SA, STEP, Reg. S 4% 22/01/2028 GBP 4,283,000 5,508,051 0.16 48,023,736 1.44 Netherlands ABN AMRO Bank NV, Reg. S, FRN 4.75% Perpetual EUR 8,000,000 9,488,687 0.28 Dufry One BV, Reg. S 4.5% 23/05/2032 EUR 10,458,000 12,587,360 0.38 Q-Park Holding I BV, Reg. S 5.125% 15/02/2030 EUR 13,500,000 16,396,035 0.49 Telefonica Europe BV, Reg. S, FRN 2.376% Perpetual EUR 11,000,000 12,305,695 0.37 Telefonica Europe BV, Reg. S, FRN 6.75% Perpetual EUR 8,800,000 11,445,356 0.34 United Group BV, Reg. S 6.5% 31/10/2031 EUR 18,000,000 21,663,176 0.65 Wintershall Dea Finance 2 BV, Reg. S, FRN 6.117% Perpetual EUR 24,200,000 29,045,660 0.87 112,931,969 3.38 Norway Var Energi ASA, Reg. S, FRN 7.862% 15/11/2083 EUR 11,847,000 15,307,982 0.46 15,307,982 0.46

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Spain Banco Bilbao Vizcaya Argentaria SA, FRN 7.75% Perpetual USD 11,600,000 12,457,576 0.37 Banco de Sabadell SA, Reg. S, FRN 5% Perpetual EUR 6,000,000 7,133,861 0.21 Banco de Sabadell SA, Reg. S, FRN 5.125% 27/06/2034 EUR 6,000,000 7,410,237 0.22 CaixaBank SA, Reg. S, FRN 7.5% Perpetual EUR 9,000,000 11,709,274 0.35 Eroski S Coop, Reg. S 5.75% 15/05/2031 EUR 10,574,000 12,894,709 0.38 Grifols SA, Reg. S 7.5% 01/05/2030 EUR 18,700,000 23,129,443 0.69 74,735,100 2.22 Sweden Castellum AB, Reg. S, FRN 3.125% Perpetual EUR 9,200,000 10,639,288 0.32 10,639,288 0.32 United Kingdom Barclays plc, FRN 8.5% Perpetual GBP 10,387,000 15,025,198 0.45 Boparan Finance plc, Reg. S 9.375% 07/11/2029 GBP 8,363,700 12,037,776 0.36 British Telecommunications plc, Reg. S, FRN 6.375% 03/12/2055 GBP 19,100,000 26,312,648 0.79 Carnival plc, Reg. S 4.125% 15/07/2031 EUR 14,379,000 17,126,855 0.51 CD&R Firefly Bidco plc, Reg. S 8.625% 30/04/2029 GBP 7,360,000 10,395,963 0.31 Market Bidco Finco plc, Reg. S 8.75% 31/01/2031 GBP 24,797,000 32,942,006 0.98 Ocado Group plc, Reg. S 10.5% 08/08/2029 GBP 9,000,000 12,204,093 0.36 OEG Finance plc, Reg. S 7.25% 27/09/2029 EUR 7,353,000 9,052,833 0.27 Standard Chartered plc, Reg. S, FRN 4.3% Perpetual USD 17,400,000 16,749,616 0.50 TalkTalk Telecom Group Ltd., Reg. S 8.25% 29/02/2028 GBP 19,626,954 16,961,508 0.51 168,808,496 5.04 United States of America Ford Motor Credit Co. LLC 3.625% 17/06/2031 USD 9,540,000 8,744,552 0.26 Ford Motor Credit Co. LLC 6.184% 29/08/2031 GBP 7,700,000 10,543,120 0.31 Iron Mountain, Inc., Reg. S 4.75% 15/01/2034 EUR 18,767,000 21,487,390 0.64 MGM Resorts International 6.125% 15/09/2029 USD 12,895,000 13,258,899 0.40 Olympus Water US Holding Corp., Reg. S 6.125% 15/02/2033 EUR 15,833,000 18,508,544 0.55 OneMain Finance Corp. 6.125% 15/05/2030 USD 24,850,000 25,395,010 0.76 Resorts World Las Vegas LLC, Reg. S 4.625% 16/04/2029 USD 24,500,000 21,854,914 0.65

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Silgan Holdings, Inc., Reg. S 4.25% 15/02/2031 EUR 28,696,000 34,207,664 1.02 Warnermedia Holdings, Inc. 4.693% 17/05/2033 EUR 9,500,000 10,497,726 0.31 164,497,819 4.90 Total Bonds 1,158,891,454 34.60 Total Transferable securities and money market instruments admitted to an official exchange listing 1,158,891,454 34.60 Transferable securities and money market instruments dealt in on another regulated market Bonds Australia Fortescue Treasury Pty Ltd., 144A 4.375% 01/04/2031 USD 8,723,000 8,444,073 0.25 Fortescue Treasury Pty Ltd., 144A 5.875% 15/04/2030 USD 3,606,000 3,711,505 0.11 12,155,578 0.36 Bermuda NCL Corp. Ltd., 144A 7.75% 15/02/2029 USD 7,620,000 8,116,267 0.24 NCL Corp. Ltd., 144A 6.25% 01/03/2030 USD 7,425,000 7,544,535 0.23 15,660,802 0.47 Canada Bombardier, Inc., 144A 8.75% 15/11/2030 USD 4,500,000 4,867,461 0.15 Bombardier, Inc., 144A 7.25% 01/07/2031 USD 7,965,000 8,497,843 0.25 Bombardier, Inc., 144A 7% 01/06/2032 USD 10,545,000 11,155,461 0.33 goeasy Ltd., 144A 7.625% 01/07/2029 USD 23,545,000 23,301,657 0.70 47,822,422 1.43 Cayman Islands GGAM Finance Ltd., 144A 8% 15/06/2028 USD 11,075,000 11,735,945 0.35 Melco Resorts Finance Ltd., Reg. S 7.625% 17/04/2032 USD 16,300,000 17,160,715 0.51 Wynn Macau Ltd., Reg. S 5.125% 15/12/2029 USD 17,300,000 17,150,606 0.51 46,047,266 1.37 Finland Nordea Bank Abp, Reg. S, FRN 6.3% Perpetual USD 16,100,000 16,509,552 0.49 16,509,552 0.49 France Altice France SA, 144A 6.5% 15/04/2032 USD 5,698,740 5,466,727 0.16 Forvia SE, 144A 8% 15/06/2030 USD 600,000 643,673 0.02 Societe Generale SA, Reg. S, FRN 8.125% Perpetual USD 10,367,000 10,959,381 0.33 Viridien, 144A 10% 15/10/2030 USD 22,700,000 23,952,963 0.72 41,022,744 1.23 Germany Allianz SE, Reg. S, FRN 3.2% Perpetual USD 13,200,000 12,495,079 0.37 12,495,079 0.37 Ireland Flutter Treasury DAC, 144A 5.875% 04/06/2031 USD 1,500,000 1,521,668 0.05 1,521,668 0.05

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Italy Fibercop SpA, 144A 6.375% 15/11/2033 USD 12,674,000 12,590,827 0.38 Intesa Sanpaolo SpA, FRN, 144A 4.198% 01/06/2032 USD 17,435,000 16,643,756 0.50 29,234,583 0.88 Japan Rakuten Group, Inc., 144A 9.75% 15/04/2029 USD 18,062,000 20,217,888 0.60 20,217,888 0.60 Luxembourg Aroundtown Finance SARL, FRN 7.875% Perpetual USD 5,107,000 5,146,826 0.15 Telecom Italia Capital SA 6.375% 15/11/2033 USD 7,874,000 8,290,511 0.25 Telecom Italia Capital SA 7.721% 04/06/2038 USD 9,400,000 10,428,189 0.31 23,865,526 0.71 Netherlands OI European Group BV, 144A 4.75% 15/02/2030 USD 18,300,000 17,724,326 0.53 VZ Secured Financing BV, 144A 5% 15/01/2032 USD 39,000,000 35,323,593 1.05 53,047,919 1.58 Panama Carnival Corp., 144A 5.875% 15/06/2031 USD 18,600,000 19,226,150 0.57 19,226,150 0.57 Singapore Seagate Data Storage Technology Pte Ltd., 144A 5.875% 15/07/2030 USD 9,167,000 9,461,407 0.28 9,461,407 0.28 United Kingdom Brightstar Lottery plc, 144A 5.25% 15/01/2029 USD 25,200,000 25,231,480 0.75 Global Auto Holdings Ltd, 144A 8.375% 15/01/2029 USD 6,945,000 6,844,818 0.20 Global Auto Holdings Ltd, 144A 8.75% 15/01/2032 USD 9,700,000 9,321,592 0.28 Global Auto Holdings Ltd, 144A 11.5% 15/08/2029 USD 9,635,000 10,130,280 0.30 Vodafone Group plc, FRN 4.125% 04/06/2081 USD 25,615,000 23,982,366 0.72 75,510,536 2.25 United States of America Albertsons Cos. Inc, 144A 3.5% 15/03/2029 USD 13,165,000 12,660,615 0.38 Albertsons Cos. Inc, 144A 6.25% 15/03/2033 USD 16,528,000 17,009,560 0.51 Albertsons Cos. Inc, 144A 5.5% 31/03/2031 USD 1,422,000 1,438,770 0.04 Allied Universal Holdco LLC, 144A 6% 01/06/2029 USD 31,988,000 31,683,234 0.95 American Axle & Manufacturing, Inc., 144A 7.75% 15/10/2033 USD 37,110,000 37,820,235 1.13 Atkore, Inc., 144A 4.25% 01/06/2031 USD 14,357,000 13,790,723 0.41 BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer, Inc., 144A 9.5% 01/07/2032 USD 30,000,000 28,702,038 0.86 Belo Corp. 7.25% 15/09/2027 USD 16,000,000 16,704,736 0.50

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Blue Owl Credit Income Corp. 6.65% 15/03/2031 USD 11,200,000 11,549,625 0.34 Burford Capital Global Finance LLC, 144A 6.875% 15/04/2030 USD 17,075,000 16,717,832 0.50 Burford Capital Global Finance LLC, 144A 9.25% 01/07/2031 USD 17,120,000 17,648,272 0.53 CCO Holdings LLC, 144A 4.75% 01/03/2030 USD 34,330,000 32,808,100 0.98 CCO Holdings LLC, 144A 4.25% 15/01/2034 USD 54,325,000 46,242,762 1.38 Central Parent LLC, 144A 8% 15/06/2029 USD 11,620,000 10,113,971 0.30 Clear Channel Outdoor Holdings, Inc., 144A 7.875% 01/04/2030 USD 19,310,000 20,418,355 0.61 Clear Channel Outdoor Holdings, Inc., 144A 7.125% 15/02/2031 USD 9,136,000 9,599,091 0.29 Cloud Software Group, Inc., 144A 6.5% 31/03/2029 USD 13,805,000 13,994,790 0.42 Coty Inc, 144A 6.625% 15/07/2030 USD 13,206,000 13,580,641 0.41 Coty Inc, 144A 5.6% 15/01/2031 USD 18,800,000 18,988,767 0.57 CQP Holdco LP, 144A 5.5% 15/06/2031 USD 17,790,000 17,611,719 0.53 Crescent Energy Finance LLC, 144A 7.625% 01/04/2032 USD 9,460,000 9,178,064 0.27 CSC Holdings LLC, 144A 4.125% 01/12/2030 USD 11,850,000 7,276,948 0.22 CSC Holdings LLC, 144A 3.375% 15/02/2031 USD 16,300,000 9,884,211 0.30 CSC Holdings LLC, 144A 4.5% 15/11/2031 USD 18,860,000 11,548,732 0.34 Cumulus Media New Holdings, Inc., 144A 8% 01/07/2029 USD 17,777,000 4,888,675 0.15 CVS Health Corp., FRN 7% 10/03/2055 USD 19,200,000 20,154,203 0.60 Directv Financing LLC, 144A 5.875% 15/08/2027 USD 5,679,000 5,715,516 0.17 Directv Financing LLC, 144A 8.875% 01/02/2030 USD 20,500,000 20,791,116 0.62 Directv Financing LLC, 144A 8.875% 01/02/2030 USD 22,368,000 22,659,769 0.68 DISH DBS Corp. 5.125% 01/06/2029 USD 38,330,000 34,051,950 1.02 Dream Finders Homes, Inc., 144A 6.875% 15/09/2030 USD 17,350,000 17,459,652 0.52 Edgewell Personal Care Co., 144A 5.5% 01/06/2028 USD 12,955,000 12,993,891 0.39 Fertitta Entertainment LLC, 144A 6.75% 15/01/2030 USD 10,865,000 10,338,046 0.31 Fiesta Purchaser, Inc., 144A 7.875% 01/03/2031 USD 11,095,000 11,621,702 0.35 Freedom Mortgage Holdings LLC, 144A 9.25% 01/02/2029 USD 11,450,000 12,015,378 0.36 Goat Holdco LLC, 144A 6.75% 01/02/2032 USD 17,560,000 18,049,222 0.54 Harvest Midstream I LP, 144A 7.5% 15/05/2032 USD 13,125,000 13,691,331 0.41 HAT Holdings I LLC, 144A 3.375% 15/06/2026 USD 4,484,000 4,456,352 0.13

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets HAT Holdings I LLC, 144A 8% 15/06/2027 USD 2,868,000 2,978,599 0.09 Hilcorp Energy I LP, 144A 6.25% 15/04/2032 USD 9,430,000 8,910,235 0.27 Hilcorp Energy I LP, 144A 6.875% 15/05/2034 USD 9,730,000 9,130,980 0.27 HLF Financing SARL LLC, 144A 4.875% 01/06/2029 USD 29,100,000 27,369,098 0.82 Howard Midstream Energy Partners LLC, 144A 7.375% 15/07/2032 USD 11,320,000 11,952,046 0.36 Icahn Enterprises LP 4.375% 01/02/2029 USD 6,000,000 5,199,185 0.16 Icahn Enterprises LP 9% 15/06/2030 USD 8,665,000 8,289,997 0.25 Inversion Escrow Issuer LLC, 144A 6.75% 01/08/2032 USD 16,400,000 16,392,153 0.49 ION Platform Finance US, Inc., 144A 9% 01/08/2029 USD 10,400,000 10,285,240 0.31 Iron Mountain Information Management Services, Inc., 144A 5% 15/07/2032 USD 12,815,000 12,241,657 0.37 Iron Mountain, Inc., 144A 6.25% 15/01/2033 USD 9,451,000 9,536,217 0.28 ITT Holdings LLC, 144A 6.5% 01/08/2029 USD 13,065,000 12,545,882 0.37 Jefferson Capital Holdings LLC, 144A 9.5% 15/02/2029 USD 11,645,000 12,283,996 0.37 KBR, Inc., 144A 4.75% 30/09/2028 USD 11,270,000 11,104,613 0.33 Match Group Holdings II LLC, 144A 4.125% 01/08/2030 USD 17,615,000 16,742,286 0.50 McAfee Corp., 144A 7.375% 15/02/2030 USD 18,455,000 16,113,846 0.48 Medline Borrower LP, 144A 3.875% 01/04/2029 USD 14,185,000 13,858,802 0.41 Newell Brands, Inc. 6.375% 15/05/2030 USD 22,600,000 22,099,898 0.66 Nissan Motor Acceptance Co. LLC, 144A 5.625% 29/09/2028 USD 27,822,000 27,917,791 0.83 NRG Energy, Inc., 144A 3.625% 15/02/2031 USD 7,585,000 7,092,374 0.21 NRG Energy, Inc., 144A 6% 01/02/2033 USD 6,845,000 6,994,111 0.21 NRG Energy, Inc., 144A 6.25% 01/11/2034 USD 9,635,000 9,904,346 0.30 Office Properties Income Trust, 144A 9% 30/09/2029 USD 11,032,000 9,639,210 0.29 Olympus Water US Holding Corp., 144A 7.25% 15/02/2033 USD 10,000,000 10,058,516 0.30 Organon & Co, 144A 5.125% 30/04/2031 USD 41,630,000 34,508,565 1.03 Owens-Brockway Glass Container, Inc., 144A 7.25% 15/05/2031 USD 19,765,000 20,200,364 0.60 PRA Group, Inc., 144A 8.375% 01/02/2028 USD 13,405,000 13,746,975 0.41 Prairie Acquiror LP, 144A 9% 01/08/2029 USD 10,215,000 10,663,725 0.32 SeaWorld Parks & Entertainment, Inc., 144A 5.25% 15/08/2029 USD 10,465,000 10,200,963 0.30 Sinclair Television Group, Inc., 144A 5.5% 01/03/2030 USD 4,918,000 4,471,470 0.13

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Sinclair Television Group, Inc., 144A 4.375% 31/12/2032 USD 23,405,000 18,515,695 0.55 Sirius XM Radio LLC, 144A 4.125% 01/07/2030 USD 22,285,000 21,209,468 0.63 Sirius XM Radio LLC, 144A 4% 15/07/2028 USD 24,665,000 24,142,746 0.72 Smyrna Ready Mix Concrete LLC, 144A 8.875% 15/11/2031 USD 23,605,000 25,266,032 0.75 Snap, Inc., 144A 6.875% 01/03/2033 USD 10,849,000 11,250,795 0.34 Station Casinos LLC, 144A 6.625% 15/03/2032 USD 19,270,000 19,813,857 0.59 StoneX Group, Inc., 144A 7.875% 01/03/2031 USD 11,245,000 11,990,544 0.36 Sunoco LP, Reg. S 6.625% 15/08/2032 USD 10,790,000 11,096,615 0.33 Synchrony Financial, FRN 5.935% 02/08/2030 USD 14,895,000 15,530,351 0.46 TEGNA, Inc. 5% 15/09/2029 USD 17,682,000 17,540,176 0.52 Tenet Healthcare Corp., 144A 5.5% 15/11/2032 USD 44,200,000 44,834,535 1.34 Uniti Group LP, 144A 6.5% 15/02/2029 USD 17,060,000 16,400,917 0.49 Univision Communications, Inc., 144A 4.5% 01/05/2029 USD 25,700,000 24,706,814 0.74 Venture Global LNG, Inc., 144A 9.875% 01/02/2032 USD 51,000,000 52,718,569 1.57 Viking Baked Goods Acquisition Corp., 144A 8.625% 01/11/2031 USD 12,720,000 12,792,657 0.38 Vital Energy, Inc., 144A 7.875% 15/04/2032 USD 27,410,000 27,025,272 0.81 Voyager Parent LLC, 144A 9.25% 01/07/2032 USD 25,000,000 26,543,275 0.79 Warnermedia Holdings, Inc. 5.05% 15/03/2042 USD 10,400,000 7,345,000 0.22 Windstream Services LLC, 144A 8.25% 01/10/2031 USD 24,027,000 25,245,399 0.75 XPLR Infrastructure Operating Partners LP, 144A 7.25% 15/01/2029 USD 13,170,000 13,501,107 0.40 ZF North America Capital, Inc., 144A 6.75% 23/04/2030 USD 11,000,000 10,877,366 0.32 ZF North America Capital, Inc., 144A 7.5% 24/03/2031 USD 49,400,000 49,966,223 1.49 1,516,605,147 45.29 Total Bonds 1,940,404,267 57.93 Total Transferable securities and money market instruments dealt in on another regulated market 1,940,404,267 57.93 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 379,918 47,327,848 1.41

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Aviva Investors Liquidity Funds plc - Sterling Liquidity Fund † GBP 46,610,000 62,692,780 1.87 Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 71,569,971 71,569,971 2.14 181,590,599 5.42 Total Collective Investment Schemes 181,590,599 5.42 Total Units of authorised UCITS or other collective investment undertakings 181,590,599 5.42 Total investments 3,280,886,320 97.95 Cash/(bank overdraft) 71,093,339 2.12 Other assets/(liabilities) (2,453,190) (0.07) Total net assets 3,349,526,469 100.00 † Related Party Fund Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets CAD 7,522 USD 5,381 12/01/2026 BNY Mellon 110 CAD 7,522 USD 5,445 20/01/2026 BNY Mellon 48 CAD 7,522 USD 5,471 27/01/2026 BNY Mellon 24 CHF 1,676,631 USD 2,093,046 12/01/2026 BNY Mellon 26,005 CHF 1,676,631 USD 2,089,643 20/01/2026 BNY Mellon 31,242 CHF 1,676,631 USD 2,115,648 27/01/2026 BNY Mellon 6,847 EUR 73,582,850 USD 85,582,178 12/01/2026 BNY Mellon 886,228 0.03 EUR 73,579,714 USD 85,862,177 20/01/2026 BNY Mellon 635,324 0.02 GBP 792,636 USD 1,046,320 02/01/2026 BNY Mellon 19,814 GBP 491,400,787 USD 648,367,960 12/01/2026 BNY Mellon 12,582,805 0.38 GBP 486,608,092 USD 648,885,975 20/01/2026 BNY Mellon 5,610,667 0.17 GBP 486,604,988 USD 653,036,348 27/01/2026 BNY Mellon 1,449,301 0.04 SGD 4,486,484 USD 3,466,486 12/01/2026 BNY Mellon 25,093 SGD 4,481,317 USD 3,466,388 20/01/2026 BNY Mellon 23,007 SGD 4,475,149 USD 3,480,535 27/01/2026 BNY Mellon 5,664 USD 48 BRL 259 12/01/2026 BNY Mellon 1 USD 16,621 EUR 14,131 12/01/2026 BNY Mellon 16 USD 17,142 EUR 14,569 20/01/2026 BNY Mellon 17 USD 6,939,397 EUR 5,900,000 21/01/2026 Deutsche Bank 3,254 USD 1,412,781 EUR 1,200,000 21/01/2026 Standard Chartered Bank 2,040 USD 17,069 EUR 14,502 27/01/2026 BNY Mellon 17 USD 96,157 EUR 81,554 02/02/2026 BNY Mellon 227 USD 16 GBP 12 12/01/2026 BNY Mellon - USD 474 GBP 351 20/01/2026 BNY Mellon 1 USD 474 GBP 351 27/01/2026 BNY Mellon 1 USD 325,020 GBP 241,065 02/02/2026 BNY Mellon 790 USD 528 SGD 677 02/02/2026 BNY Mellon - Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 21,308,543 0.64 BRL 7,843 USD 1,468 12/01/2026 BNY Mellon (41) CAD 7,522 USD 5,502 02/02/2026 BNY Mellon (6) CHF 1,676,631 USD 2,137,500 02/02/2026 BNY Mellon (13,633) EUR 73,579,647 USD 86,688,609 27/01/2026 BNY Mellon (162,480) EUR 73,398,309 USD 86,756,422 02/02/2026 BNY Mellon (419,047) (0.01) GBP 137,817 USD 186,341 12/01/2026 BNY Mellon (973) GBP 485,803,412 USD 656,517,064 02/02/2026 BNY Mellon (3,117,965) (0.10) SGD 4,474,353 USD 3,490,820 02/02/2026 BNY Mellon (3,876) USD 295,767 EUR 251,963 12/01/2026 BNY Mellon (319) USD 291,712 EUR 248,389 20/01/2026 BNY Mellon (285) USD 449,330,190 EUR 384,322,500 21/01/2026 Citigroup (2,486,085) (0.08) USD 449,416,509 EUR 384,322,500 21/01/2026 J.P. Morgan (2,399,766) (0.07) USD 7,111,768 EUR 6,100,000 21/01/2026 Morgan Stanley (59,499) USD 291,810 EUR 248,389 27/01/2026 BNY Mellon (284) -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets USD 1,064,160 GBP 792,636 02/01/2026 BNY Mellon (1,974) USD 7,974,724 GBP 5,976,246 12/01/2026 BNY Mellon (63,528) USD 1,400,998 GBP 1,045,394 20/01/2026 BNY Mellon (5,074) USD 260,309,176 GBP 195,130,000 21/01/2026 Standard Chartered Bank (2,143,796) (0.07) USD 1,396,828 GBP 1,042,288 27/01/2026 BNY Mellon (5,053) USD 10,210 SGD 13,186 12/01/2026 BNY Mellon (52) USD 6,215 SGD 8,019 20/01/2026 BNY Mellon (28) USD 1,440 SGD 1,851 27/01/2026 BNY Mellon (2) USD 293 SGD 377 02/02/2026 BNY Mellon - Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (10,883,766) (0.33) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 10,424,777 0.31

Financial Futures Contracts

Security Description Number of Contracts Currency

Unrealised Gain/(Loss) USD % of Net Assets Euro-Bobl, 06/03/2026 (1,410) EUR 844,547 0.03 Total Unrealised Gain on Financial Futures Contracts - Assets 844,547 0.03 US 5 Year Note, 31/03/2026 807 USD (275,290) (0.01) Total Unrealised Loss on Financial Futures Contracts - Liabilities (275,290) (0.01) Net Unrealised Gain on Financial Futures Contracts - Assets 569,257 0.02

Option Purchased Contracts

Quantity Security Description Currency Counterparty Market Value USD % of Net Assets

180,000,000

ITRAXX.EUROPE.CROSSOVER.44.V1, Put, 325.000, 18/03/2026, pays 5.0% Fixed EUR Goldman Sachs 616,820 0.02 Total Market Value on Option Purchased Contracts - Assets 616,820 0.02

Option Written Contracts

Quantity Security Description Currency Counterparty Market Value USD % of Net Assets (180,000,000) ITRAXX.EUROPE.MAIN.44.V1, Put, 500.000, 18/03/2026 EUR Goldman Sachs (222,162) (0.01) Total Market Value on Option Written Contracts - Liabilities (222,162) (0.01)

Credit Default Swap Contracts

Nominal Amount Currency Counterparty Reference Entity Buy/Sell

Interest (Paid)/ Received Rate Maturity Date Market Value USD % of Net Assets (270,000,000) EUR Morgan Stanley ITRAXX.EUROPE.CROSSOVER.44.V1 Buy 5.000% 20/12/2030 (35,098,812) (1.05) Total Market Value on Credit Default Swap Contracts - Liabilities (35,098,812) (1.05)

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Bonds Australia Commonwealth Bank of Australia, Reg. S, FRN 3.788% 26/08/2037 EUR 21,511,000 25,129,886 0.40 25,129,886 0.40 Belgium Anheuser-Busch InBev SA, Reg. S 3.95% 22/03/2044 EUR 32,530,000 36,296,760 0.58 Anheuser-Busch InBev SA, Reg. S 3.875% 19/05/2038 EUR 27,094,000 31,456,794 0.50 Elia Group SA, Reg. S 3.875% 11/06/2031 EUR 34,900,000 41,791,042 0.67 109,544,596 1.75 Canada AltaGas Ltd. 2.075% 30/05/2028 CAD 13,681,000 9,711,289 0.16 Bell Telephone Co. of Canada or Bell Canada 2.5% 14/05/2030 CAD 31,009,000 21,770,207 0.35 CPPIB Capital, Inc., Reg. S 4% 02/06/2035 CAD 50,000,000 36,997,994 0.59 Enbridge, Inc. 4.24% 27/08/2042 CAD 13,681,000 9,042,585 0.14 Enbridge, Inc. 3.1% 21/09/2033 CAD 13,681,000 9,321,145 0.15 National Bank of Canada, FRN 3.441% 21/10/2031 CAD 40,000,000 28,899,493 0.46 Royal Bank of Canada, FRN 3.985% 22/07/2031 CAD 20,000,000 14,831,443 0.24 130,574,156 2.09 Cayman Islands Gaci First Investment Co., Reg. S 3.375% 14/10/2032 EUR 40,300,000 46,795,794 0.75 46,795,794 0.75 Denmark Danske Bank A/S, Reg. S, FRN 5.25% 04/10/2031 GBP 17,532,000 24,246,665 0.39 Orsted AS, Reg. S 5.75% 09/04/2040 GBP 16,735,000 21,485,419 0.34 45,732,084 0.73 France AXA SA, Reg. S, FRN 5.125% Perpetual EUR 42,000,000 49,364,117 0.79 BNP Paribas SA, Reg. S, FRN 1.125% 15/01/2032 EUR 18,300,000 21,112,143 0.34 BNP Paribas SA, Reg. S, FRN 3.78% 19/01/2036 EUR 43,200,000 50,611,730 0.81 Cars Alliance Auto Loans Germany V, Reg. S, FRN 2.563% 20/07/2037 EUR 14,000,000 16,485,330 0.26 Electricite de France SA, Reg. S, FRN 5.125% Perpetual EUR 12,000,000 14,511,561 0.23 Electricite de France SA, Reg. S, FRN 4.375% Perpetual EUR 28,700,000 33,403,759 0.54 TotalEnergies SE, Reg. S, FRN 1.625% Perpetual EUR 36,482,000 41,584,720 0.67 227,073,360 3.64 Ireland Bridgepoint CLO IX DAC, Reg. S, FRN 3.414% 15/10/2039 EUR 12,500,000 14,700,253 0.24 Flutter Treasury DAC, Reg. S 4% 04/06/2031 EUR 27,592,000 32,439,062 0.52

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Smurfit Kappa Treasury ULC 5.438% 03/04/2034 USD 21,470,000 22,237,520 0.36 Smurfit Westrock Financing DAC 5.185% 15/01/2036 USD 35,714,000 35,987,969 0.58 105,364,804 1.70 Italy Eni SpA, Reg. S, FRN 2% Perpetual EUR 18,241,000 21,113,000 0.34 Fibercop SpA, Reg. S 4.75% 30/06/2030 EUR 20,146,000 24,123,403 0.39 Intesa Sanpaolo SpA, Reg. S, FRN 7.75% Perpetual EUR 18,500,000 22,652,029 0.36 Intesa Sanpaolo SpA, Reg. S, FRN 6.375% Perpetual EUR 18,500,000 22,759,243 0.36 Lottomatica Group SpA, Reg. S 4.875% 31/01/2031 EUR 12,097,000 14,674,177 0.23 Prysmian SpA, Reg. S 3.875% 28/11/2031 EUR 31,866,000 38,352,038 0.61 UniCredit SpA, Reg. S, FRN 5.305% 31/07/2032 GBP 50,400,000 69,157,282 1.11 212,831,172 3.40 Japan Japan Government Thirty Year Bond 2.4% 20/03/2055 JPY 6,937,000,000 36,368,521 0.58 Sumitomo Mitsui Financial Group, Inc., Reg. S 3.573% 28/05/2032 EUR 34,000,000 40,253,416 0.64 76,621,937 1.22 Luxembourg Blackstone Property Partners Europe Holdings SARL, Reg. S 3.625% 29/10/2029 EUR 18,241,000 21,663,689 0.35 ECARAT DE SA Compartment Lease, Reg. S, FRN 2.534% 25/05/2034 EUR 15,600,000 18,355,938 0.29 First Mobility SARL Compartment Swiss Lease, Reg. S, FRN 2.615% 14/10/2032 EUR 6,637,272 7,814,445 0.13 Greensaif Pipelines Bidco SARL, Reg. S 5.853% 23/02/2036 USD 25,800,000 26,999,388 0.43 74,833,460 1.20 Mexico Mexican Bonos 8% 31/07/2053 MXN 535,000,000 25,413,277 0.41 25,413,277 0.41 Netherlands ABN AMRO Bank NV, Reg. S, FRN 4.75% Perpetual EUR 18,300,000 21,705,371 0.35 Bumper NL BV, Reg. S, FRN 2.503% 24/01/2037 EUR 8,000,000 9,403,502 0.15 GXO Logistics Capital BV 3.75% 24/11/2030 EUR 25,784,000 30,231,250 0.48 Iberdrola International BV, Reg. S, FRN 1.874% Perpetual EUR 68,500,000 80,359,017 1.29 ING Groep NV, FRN 5.75% Perpetual USD 33,016,000 33,197,621 0.53 JAB Holdings BV, Reg. S 4.375% 25/04/2034 EUR 25,000,000 30,112,473 0.48 Telefonica Europe BV, Reg. S, FRN 3.875% Perpetual EUR 36,500,000 43,001,234 0.69 Teva Pharmaceutical Finance Netherlands II BV 4.125% 01/06/2031 EUR 14,000,000 16,718,597 0.27 Upjohn Finance BV, Reg. S 1.908% 23/06/2032 EUR 15,273,000 15,760,010 0.25

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Volkswagen International Finance NV, Reg. S 4.125% 02/09/2035 EUR 17,500,000 20,561,091 0.33 Wintershall Dea Finance 2 BV, Reg. S, FRN 3% Perpetual EUR 25,000,000 28,242,586 0.45 329,292,752 5.27 Norway Aker BP ASA, Reg. S 4% 29/05/2032 EUR 30,000,000 35,624,250 0.57 Var Energi ASA, Reg. S 3.875% 12/03/2031 EUR 63,569,000 75,158,767 1.20 110,783,017 1.77 Singapore Pfizer Investment Enterprises Pte Ltd. 5.3% 19/05/2053 USD 26,116,000 24,745,942 0.40 Pfizer Investment Enterprises Pte Ltd. 5.34% 19/05/2063 USD 11,401,000 10,586,011 0.17 35,331,953 0.57 Spain AutoNoria Spain 2025 FT, Reg. S, FRN 2.534% 30/04/2043 EUR 14,500,000 17,054,558 0.27 Banco Bilbao Vizcaya Argentaria SA 5.381% 13/03/2029 USD 18,500,000 19,199,101 0.31 Banco de Sabadell SA, Reg. S, FRN 3.5% 27/05/2031 EUR 26,600,000 31,506,243 0.50 Banco Santander SA 5.127% 06/11/2035 USD 27,400,000 27,400,957 0.44 CaixaBank SA, Reg. S, FRN 5.875% Perpetual EUR 16,400,000 19,246,829 0.31 Cellnex Finance Co. SA, Reg. S 2% 15/02/2033 EUR 41,100,000 43,181,355 0.69 157,589,043 2.52 Switzerland UBS Group AG, Reg. S, FRN 3.757% 11/08/2036 EUR 14,621,000 17,076,253 0.27 17,076,253 0.27 United Kingdom Barclays plc, FRN 5.674% 12/03/2028 USD 11,222,000 11,425,367 0.18 Barclays plc, FRN 4.476% 11/11/2029 USD 32,550,000 32,733,977 0.52 Barclays plc, Reg. S, FRN 3.543% 14/08/2031 EUR 32,065,000 37,947,884 0.61 British Telecommunications plc 9.625% 15/12/2030 USD 13,089,000 15,983,990 0.26 British Telecommunications plc, Reg. S 3.875% 20/01/2034 EUR 11,874,000 14,153,782 0.23 British Telecommunications plc, Reg. S 3.125% 11/02/2032 EUR 22,993,000 26,621,657 0.43 British Telecommunications plc, Reg. S, FRN 6.375% 03/12/2055 GBP 19,618,000 27,026,258 0.43 Coca-Cola Europacific Partners plc, Reg. S 3.125% 25/09/2032 EUR 32,862,000 38,154,493 0.61 Hermitage 2025 plc, Reg. S, FRN 4.659% 21/04/2033 GBP 18,077,000 24,389,212 0.39 HSBC Holdings plc, FRN 5.286% 19/11/2030 USD 24,463,000 25,248,661 0.40 HSBC Holdings plc, FRN 5.13% 03/03/2031 USD 38,000,000 38,956,962 0.62 HSBC Holdings plc, Reg. S, FRN 4.191% 19/05/2036 EUR 22,000,000 26,281,130 0.42

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Lloyds Banking Group plc, Reg. S, FRN 6.625% 02/06/2033 GBP 14,172,000 19,813,044 0.32 National Grid plc 5.418% 11/01/2034 USD 14,593,000 15,116,203 0.24 NatWest Group plc, Reg. S, FRN 2.105% 28/11/2031 GBP 25,088,000 33,218,637 0.53 Newday Funding Master Issuer plc - Series, Reg. S, FRN 4.643% 15/07/2033 GBP 21,031,000 28,307,774 0.45 Polaris plc, Reg. S, FRN 4.5% 25/08/2068 GBP 9,941,597 13,385,999 0.21 Santander UK Group Holdings plc, FRN 5.136% 22/09/2036 USD 19,800,000 19,755,502 0.32 Severn Trent Utilities Finance plc, Reg. S 3.875% 04/08/2035 EUR 19,532,000 22,893,732 0.37 SSE plc, Reg. S, FRN 4% Perpetual EUR 36,966,000 44,017,445 0.71 SSE plc, Reg. S, FRN 3.74% Perpetual GBP 24,018,000 32,304,118 0.52 Standard Chartered plc, FRN, 144A 5.005% 15/10/2030 USD 15,674,000 16,015,631 0.26 Tesco Property Finance 3 plc, Reg. S 5.744% 13/04/2040 GBP 19,431,391 26,348,181 0.42 Vodafone Group plc, Reg. S, FRN 8% 30/08/2086 GBP 13,681,000 20,122,507 0.32 610,222,146 9.77 United States of America AbbVie, Inc. 4.25% 21/11/2049 USD 13,681,000 11,275,818 0.18 AbbVie, Inc. 5.4% 15/03/2054 USD 25,701,000 25,008,177 0.40 American Express Co., FRN 3.433% 20/05/2032 EUR 18,600,000 21,983,037 0.35 American Tower Corp. 5.35% 15/03/2035 USD 70,000,000 71,797,050 1.15 AT&T, Inc. 6.05% 15/08/2056 USD 34,580,000 34,913,025 0.56 AT&T, Inc. 3.6% 01/06/2033 EUR 35,733,000 41,941,330 0.67 Bank of America Corp., FRN 3.615% 16/03/2028 CAD 9,121,000 6,700,999 0.11 Blue Owl Credit Income Corp., Reg. S 4.25% 31/01/2031 EUR 21,603,000 24,622,292 0.39 Boeing Co. (The) 2.7% 01/02/2027 USD 22,701,000 22,380,331 0.36 Burlington Northern Santa Fe LLC 5.8% 15/03/2056 USD 49,488,000 50,568,289 0.81 CVS Health Corp. 5.875% 01/06/2053 USD 40,000,000 38,867,862 0.62 CVS Health Corp. 5.45% 15/09/2035 USD 27,422,000 28,079,764 0.45 Digital Euro Finco LLC, Reg. S 4.25% 20/11/2037 EUR 30,773,000 35,254,351 0.56 Eli Lilly & Co. 5% 09/02/2054 USD 31,675,000 29,620,603 0.47 Eli Lilly & Co. 5.5% 12/02/2055 USD 24,197,000 24,245,804 0.39 Ford Motor Credit Co. LLC 6.798% 07/11/2028 USD 15,000,000 15,741,659 0.25 Ford Motor Credit Co. LLC 5.8% 05/03/2027 USD 12,037,000 12,191,944 0.20 Ford Motor Credit Co. LLC 5.875% 07/11/2029 USD 55,989,000 57,496,709 0.92 Ford Motor Credit Co. LLC 6.184% 29/08/2031 GBP 37,500,000 51,346,365 0.82 General Motors Financial Co., Inc. 5.45% 15/07/2030 USD 25,000,000 25,969,506 0.42 General Motors Financial Co., Inc., Reg. S 4.3% 15/02/2029 EUR 18,241,000 22,205,871 0.36

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - GLOBAL INVESTMENT GRADE CORPORATE BOND FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Goldman Sachs Group, Inc. (The), FRN 2.013% 28/02/2029 CAD 13,681,000 9,743,726 0.16 Goldman Sachs Group, Inc. (The), Reg. S, FRN 3.5% 23/01/2033 EUR 19,177,000 22,541,517 0.36 HCA, Inc. 4.125% 15/06/2029 USD 27,361,000 27,277,217 0.44 HCA, Inc. 5.75% 01/03/2035 USD 22,583,000 23,715,720 0.38 HCA, Inc. 4.9% 15/11/2035 USD 50,000,000 49,336,326 0.79 JPMorgan Chase & Co., Reg. S, FRN 3.761% 21/03/2034 EUR 20,254,000 24,080,904 0.39 Lowe's Cos., Inc. 4.85% 15/10/2035 USD 30,000,000 29,768,231 0.48 Medtronic, Inc. 4.2% 15/10/2045 EUR 26,038,000 29,803,234 0.48 Metropolitan Life Global Funding I, Reg. S 3.25% 14/12/2032 EUR 18,241,000 21,211,088 0.34 NextEra Energy Capital Holdings, Inc. 5.25% 15/03/2034 USD 50,258,000 51,630,662 0.83 NextEra Energy Capital Holdings, Inc. 4.85% 30/04/2031 CAD 40,431,000 30,950,546 0.50 NextEra Energy Capital Holdings, Inc., FRN 3.996% 15/05/2056 EUR 29,502,000 34,568,282 0.55 ONEOK, Inc. 6.05% 01/09/2033 USD 22,801,000 24,305,135 0.39 Oracle Corp. 4.9% 06/02/2033 USD 18,241,000 17,560,189 0.28 Oracle Corp. 5.25% 03/02/2032 USD 13,526,000 13,529,489 0.22 Oracle Corp. 6% 03/08/2055 USD 27,499,000 24,272,253 0.39 Oracle Corp. 5.95% 26/09/2055 USD 12,345,000 10,945,784 0.18 Public Service Enterprise Group, Inc. 5.45% 01/04/2034 USD 22,801,000 23,565,248 0.38 RTX Corp. 6.4% 15/03/2054 USD 34,338,000 37,813,380 0.61 Targa Resources Corp. 5.5% 15/02/2035 USD 23,713,000 24,303,342 0.39 T-Mobile USA, Inc. 3.5% 11/02/2037 EUR 40,958,000 46,168,853 0.74 T-Mobile USA, Inc. 3.8% 11/02/2045 EUR 30,191,000 32,185,078 0.52 United States Treasury Bonds 2% 15/11/2041 USD 120,988,700 84,484,140 1.36 United States Treasury Bonds 4.75% 15/08/2055 USD 52,250,000 51,384,609 0.82 UnitedHealth Group, Inc. 3.05% 15/05/2041 USD 22,651,000 17,183,815 0.28 UnitedHealth Group, Inc. 4.75% 15/05/2052 USD 9,121,000 7,880,156 0.13 UnitedHealth Group, Inc. 5.375% 15/04/2054 USD 22,308,000 21,066,580 0.34 UnitedHealth Group, Inc. 5.95% 15/06/2055 USD 4,535,000 4,659,900 0.07 Verizon Communications, Inc. 2.875% 20/11/2050 USD 10,762,000 6,690,851 0.11 Verizon Communications, Inc. 1.3% 18/05/2033 EUR 35,065,000 35,247,745 0.56 Verizon Communications, Inc. 3.625% 16/05/2050 CAD 13,681,000 7,789,113 0.12

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Verizon Communications, Inc., FRN 5.742% 15/06/2056 GBP 28,300,000 38,089,244 0.61 Warnermedia Holdings, Inc. 4.693% 17/05/2033 EUR 9,855,000 10,890,010 0.17 1,546,853,153 24.81 Total Bonds 3,887,062,843 62.27 Total Transferable securities and money market instruments admitted to an official exchange listing 3,887,062,843 62.27 Transferable securities and money market instruments dealt in on another regulated market Bonds Canada Enbridge, Inc., FRN 8.25% 15/01/2084 USD 13,603,000 14,565,358 0.23 14,565,358 0.23 Denmark Danske Bank A/S, FRN, 144A 5.019% 04/03/2031 USD 50,800,000 51,901,524 0.83 51,901,524 0.83 France BNP Paribas SA, Reg. S, FRN 8.5% Perpetual USD 20,000,000 21,278,320 0.34 BPCE SA, FRN, 144A 5.389% 28/05/2031 USD 22,901,000 23,518,618 0.38 Credit Agricole SA, FRN, 144A 5.222% 27/05/2031 USD 18,453,000 18,951,353 0.30 Societe Generale SA, FRN, 144A 5.512% 22/05/2031 USD 30,000,000 30,944,552 0.50 94,692,843 1.52 Hong Kong Bank of East Asia Ltd. (The), Reg. S, FRN 6.625% 13/03/2027 USD 18,121,000 18,195,767 0.29 18,195,767 0.29 Ireland Smurfit Westrock Financing DAC 5.418% 15/01/2035 USD 20,000,000 20,602,689 0.33 20,602,689 0.33 Italy Intesa Sanpaolo SpA, 144A 5.71% 15/01/2026 USD 24,360,000 24,372,159 0.39 Snam SpA, 144A 5% 28/05/2030 USD 25,000,000 25,512,777 0.41 49,884,936 0.80 Netherlands Enel Finance International NV, 144A 5% 30/09/2035 USD 31,490,000 31,363,630 0.50 31,363,630 0.50 Norway Var Energi ASA, 144A 5.875% 22/05/2030 USD 16,895,000 17,603,103 0.28 17,603,103 0.28 Spain CaixaBank SA, FRN, 144A 6.684% 13/09/2027 USD 20,000,000 20,352,200 0.33 20,352,200 0.33 Switzerland UBS Group AG, FRN, 144A 5.617% 13/09/2030 USD 18,500,000 19,331,260 0.31 UBS Group AG, FRN, 144A 5.58% 09/05/2036 USD 18,132,000 18,861,370 0.30 38,192,630 0.61

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - GLOBAL INVESTMENT GRADE CORPORATE BOND FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets United Kingdom Harbour Energy plc, 144A 6.327% 01/04/2035 USD 29,455,000 29,842,309 0.48 29,842,309 0.48 United States of America AEP Texas, Inc. 5.85% 15/10/2055 USD 22,238,000 21,852,472 0.35 Albertsons Cos. Inc, 144A 6.25% 15/03/2033 USD 9,881,000 10,168,893 0.16 Albertsons Cos. Inc, 144A 5.5% 31/03/2031 USD 33,238,000 33,629,989 0.54 Amazon.com, Inc. 2.875% 12/05/2041 USD 31,921,000 24,235,147 0.39 Amazon.com, Inc. 5.45% 20/11/2055 USD 60,500,000 59,092,271 0.95 Amgen, Inc. 4.875% 01/03/2053 USD 27,361,000 24,100,639 0.39 AT&T, Inc. 3.5% 15/09/2053 USD 31,921,000 21,378,467 0.34 Bank of America Corp., FRN 2.299% 21/07/2032 USD 44,006,000 39,363,092 0.63 Charter Communications Operating LLC 6.384% 23/10/2035 USD 21,571,000 22,281,086 0.36 Charter Communications Operating LLC 3.75% 15/02/2028 USD 39,906,000 39,351,098 0.63 Charter Communications Operating LLC 5.375% 01/04/2038 USD 31,921,000 29,456,168 0.47 Charter Communications Operating LLC 6.1% 01/06/2029 USD 43,143,000 45,047,175 0.72 Charter Communications Operating LLC 6.55% 01/06/2034 USD 31,052,000 32,670,672 0.52 Cheniere Energy Partners LP 5.95% 30/06/2033 USD 27,361,000 29,024,651 0.47 Cheniere Energy, Inc. 4.625% 15/10/2028 USD 42,866,000 42,808,365 0.69 Citigroup, Inc., FRN 5.174% 13/02/2030 USD 18,610,000 19,101,261 0.31 Citigroup, Inc., FRN 4.786% 04/03/2029 USD 54,722,000 55,513,284 0.89 Constellation Energy Generation LLC 5.75% 15/03/2054 USD 31,383,000 31,167,835 0.50 Coty Inc, 144A 4.75% 15/01/2029 USD 6,751,000 6,659,684 0.11 Coty Inc, 144A 6.625% 15/07/2030 USD 30,000,000 30,851,070 0.49 Coty Inc, 144A 5.6% 15/01/2031 USD 22,159,000 22,381,494 0.36 CVS Health Corp., FRN 7% 10/03/2055 USD 35,000,000 36,739,433 0.59 Delta Air Lines, Inc., 144A 4.75% 20/10/2028 USD 31,920,893 32,120,071 0.51 Fiserv, Inc. 5.45% 15/03/2034 USD 22,801,000 23,127,007 0.37 Florida Power & Light Co. 5.7% 15/03/2055 USD 9,036,000 9,173,343 0.15 Goldman Sachs Group, Inc. (The), FRN 4.692% 23/10/2030 USD 20,000,000 20,278,491 0.33 JPMorgan Chase & Co., FRN 1.764% 19/11/2031 USD 23,362,000 20,764,872 0.33 JPMorgan Chase & Co., FRN 5.572% 22/04/2036 USD 21,654,000 22,727,069 0.36

Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Kraft Heinz Foods Co. 4.375% 01/06/2046 USD 30,000,000 24,807,464 0.40 Mars, Inc., 144A 5.2% 01/03/2035 USD 42,100,000 43,286,997 0.69 Mars, Inc., 144A 5.7% 01/05/2055 USD 27,455,000 27,368,246 0.44 Meta Platforms, Inc. 4.875% 15/11/2035 USD 30,901,000 30,871,571 0.49 Metropolitan Life Global Funding I, 144A 5.05% 08/01/2034 USD 16,482,000 16,820,620 0.27 Morgan Stanley, FRN 4.431% 23/01/2030 USD 27,361,000 27,518,356 0.44 Morgan Stanley, FRN 5.192% 17/04/2031 USD 44,709,000 46,107,282 0.74 Morgan Stanley, FRN 4.356% 22/10/2031 USD 25,000,000 24,923,279 0.40 Mylan, Inc. 4.55% 15/04/2028 USD 25,013,000 25,053,269 0.40 Niagara Mohawk Power Corp., 144A 5.29% 17/01/2034 USD 24,612,000 25,037,557 0.40 Niagara Mohawk Power Corp., 144A 5.664% 17/01/2054 USD 14,648,000 14,244,963 0.23 Oracle Corp. 5.2% 26/09/2035 USD 23,103,000 22,142,836 0.36 Roche Holdings, Inc., 144A 4.666% 02/12/2035 USD 30,000,000 29,869,877 0.48 RWE Finance US LLC, 144A 5.125% 18/09/2035 USD 17,675,000 17,582,527 0.28 Sprint Capital Corp. 8.75% 15/03/2032 USD 50,162,000 60,696,958 0.97 Stellantis Finance US, Inc., 144A 2.691% 15/09/2031 USD 25,000,000 21,928,400 0.35 Stellantis Finance US, Inc., 144A 5.75% 18/03/2030 USD 34,458,000 35,563,710 0.57 Targa Resources Partners LP 4% 15/01/2032 USD 26,449,000 25,248,553 0.40 T-Mobile USA, Inc. 3.375% 15/04/2029 USD 15,136,000 14,755,954 0.24 T-Mobile USA, Inc. 5.875% 15/11/2055 USD 17,661,000 17,718,097 0.28 US Bancorp, FRN 5.1% 23/07/2030 USD 18,241,000 18,788,760 0.30 Volkswagen Group of America Finance LLC, 144A 4.55% 11/09/2028 USD 25,000,000 25,148,469 0.40 Wells Fargo & Co., FRN 3.35% 02/03/2033 USD 50,162,000 46,832,781 0.75 Wells Fargo & Co., FRN 5.198% 23/01/2030 USD 18,241,000 18,789,085 0.30 1,466,170,710 23.49 Total Bonds 1,853,367,699 29.69 Total Transferable securities and money market instruments dealt in on another regulated market 1,853,367,699 29.69 Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 535,113 66,661,187 1.07 Aviva Investors Liquidity Funds plc - Sterling Liquidity Fund † GBP 11,100,000 14,930,055 0.24 Aviva Investors Liquidity Funds plc - USD Liquity Fund † USD 257,100,001 257,100,001 4.12 338,691,243 5.43

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - GLOBAL INVESTMENT GRADE CORPORATE BOND FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

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Investments Currency Quantity/ Nominal Value Market Value USD

% of Net Assets Luxembourg Aviva Investors - ReturnPlus Fund † USD 12,807 13,027,521 0.21 13,027,521 0.21 Total Collective Investment Schemes 351,718,764 5.64 Total Units of authorised UCITS or other collective investment undertakings 351,718,764 5.64 Total investments 6,092,149,306 97.60 Cash/(bank overdraft) 42,860,321 0.69 Other assets/(liabilities) 106,821,976 1.71 Total net assets 6,241,831,603 100.00 † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) USD % of Net Assets EUR 70,744,169 USD 82,291,815 12/01/2026 BNY Mellon 840,812 0.02 EUR 20,000,000 USD 23,378,320 13/01/2026 Standard Chartered Bank 125,119 EUR 70,744,169 USD 82,559,552 20/01/2026 BNY Mellon 604,594 0.01 GBP 1,094,522,415 USD 1,444,242,287 12/01/2026 BNY Mellon 27,927,576 0.45 GBP 1,094,293,514 USD 1,459,265,645 20/01/2026 BNY Mellon 12,578,826 0.20 GBP 1,093,513,069 USD 1,467,531,184 27/01/2026 BNY Mellon 3,248,265 0.05 USD 1,009,053 GBP 750,000 27/01/2026 BNY Mellon 300 USD 1,009,270 GBP 750,172 02/02/2026 BNY Mellon 299 USD 41,861,473 JPY 6,482,000,000 13/01/2026 Deutsche Bank 459,064 0.01 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 45,784,855 0.74 EUR 70,744,169 USD 83,345,802 27/01/2026 BNY Mellon (154,058) EUR 70,744,169 USD 83,618,020 02/02/2026 BNY Mellon (402,668) (0.01) GBP 1,093,512,391 USD 1,477,768,915 02/02/2026 BNY Mellon (7,009,357) (0.11) USD 180,216,735 CAD 250,876,653 13/01/2026 Standard Chartered Bank (2,914,400) (0.05) USD 486,060,374 EUR 415,883,060 13/01/2026 BNP Paribas (2,673,739) (0.04) USD 486,251,140 EUR 415,883,061 13/01/2026 Citigroup (2,482,974) (0.04) USD 486,214,250 EUR 415,883,060 13/01/2026 Royal Bank of Canada (2,519,862) (0.04) USD 485,881,586 EUR 415,883,060 13/01/2026 Standard Chartered Bank (2,852,527) (0.05) USD 2,356,271 GBP 1,760,196 12/01/2026 BNY Mellon (11,252) USD 440,015,102 GBP 330,901,244 13/01/2026 Standard Chartered Bank (5,057,660) (0.08) USD 2,053,933 GBP 1,531,294 20/01/2026 BNY Mellon (5,686) USD 1,138 GBP 849 27/01/2026 BNY Mellon (4) USD 1 GBP 1 02/02/2026 BNY Mellon - Total Unrealised Loss on Forward Currency Exchange Contracts - Liabilities (26,084,187) (0.42) Net Unrealised Gain on Forward Currency Exchange Contracts - Assets 19,700,668 0.32

Financial Futures Contracts

Security Description Number of Contracts Currency Unrealised Gain/(Loss) USD % of Net Assets Australia 10 Year Bond, 16/03/2026 1,100 AUD 400,713 0.01 Euro-Bobl, 06/03/2026 (1,397) EUR 836,760 0.01 Euro-BTP, 06/03/2026 (1,177) EUR 601,306 0.01 Euro-Bund, 06/03/2026 (297) EUR 362,764 0.01 Euro-OAT Future, 06/03/2026 (1,152) EUR 757,661 0.01 Japan 10 Year Bond, 13/03/2026 (93) JPY 547,338 0.01 Long Gilt, 27/03/2026 323 GBP 218,396 US 10 Year Ultra Bond, 20/03/2026 (3,119) USD 2,272,783 0.04 Total Unrealised Gain on Financial Futures Contracts - Assets 5,997,721 0.10 US 10 Year Note, 20/03/2026 2,490 USD (1,906,419) (0.03) US 2 Year Note, 31/03/2026 898 USD (87,636) US 5 Year Note, 31/03/2026 119 USD (62,289) -

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - GLOBAL INVESTMENT GRADE CORPORATE BOND FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

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Page 45

Financial Futures Contracts (continued)

Security Description Number of Contracts Currency

Unrealised Gain/(Loss) USD % of Net Assets US Long Bond, 20/03/2026 1,549 USD (1,936,250) (0.03) US Ultra Bond, 20/03/2026 780 USD (2,102,232) (0.04) Total Unrealised Loss on Financial Futures Contracts - Liabilities (6,094,826) (0.10) Net Unrealised Loss on Financial Futures Contracts - Liabilities (97,105) -

Option Written Contracts

Quantity Security Description Currency Counterparty Market Value USD % of Net Assets 1,000 FWDP 10 Year, Put, 3.900, 30/03/2026 USD Deutsche Bank (3) Total Market Value on Option Written Contracts - Liabilities (3) -

Credit Default Swap Contracts

Nominal Amount Currency Counterparty Reference Entity Buy/Sell

Interest (Paid)/ Received Rate Maturity Date Market Value USD % of Net Assets (302,340,000) EUR Deutsche Bank ITRAXX.EUROPE.MAIN.44.V1 Buy 1.000% 20/12/2030 (8,201,448) (0.13) Total Market Value on Credit Default Swap Contracts - Liabilities (8,201,448) (0.13)

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - GLOBAL INVESTMENT GRADE CORPORATE BOND FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Transferable securities and money market instruments admitted to an official exchange listing Equities Austria ANDRITZ AG EUR 1,506 99,989 0.02 OMV AG EUR 1,592 75,354 0.01 Verbund AG EUR 1,586 98,518 0.02 voestalpine AG EUR 8,005 300,361 0.05 574,222 0.10 Belgium Lotus Bakeries NV EUR 12 94,202 0.01 94,202 0.01 Bermuda Arch Capital Group Ltd. USD 953 77,834 0.01 Axalta Coating Systems Ltd. USD 1,364 37,525 0.01 Essent Group Ltd. USD 2,658 147,130 0.02 Genpact Ltd. USD 1,901 75,719 0.01 RenaissanceRe Holdings Ltd. USD 333 79,719 0.01 Teekay Corp. Ltd. USD 8,194 63,001 0.01 Teekay Tankers Ltd. 'A' USD 1,384 62,951 0.01 543,879 0.08 Canada Aurinia Pharmaceuticals, Inc. USD 5,216 70,838 0.01 Kinross Gold Corp. USD 3,207 76,895 0.01 147,733 0.02 Cayman Islands Consolidated Water Co. Ltd. USD 2,303 69,201 0.01 Credo Technology Group Holding Ltd. USD 526 64,444 0.01 Fabrinet USD 186 72,104 0.01 Patria Investments Ltd. 'A' USD 5,274 71,356 0.01 Tecnoglass, Inc. USD 1,620 69,410 0.01 Theravance Biopharma, Inc. USD 4,391 69,952 0.01 416,467 0.06 Denmark ALK-Abello A/S DKK 3,211 98,022 0.02 Genmab A/S DKK 348 91,507 0.01 Vestas Wind Systems A/S DKK 18,552 426,214 0.06 Zealand Pharma A/S DKK 953 59,015 0.01 674,758 0.10 Finland Elisa Oyj EUR 2,698 101,887 0.02 Hiab Oyj EUR 7,502 371,326 0.06 Kemira Oyj EUR 21,294 416,639 0.06 Kone Oyj 'B' EUR 8,531 514,881 0.08 Konecranes Oyj EUR 4,032 376,423 0.06 Orion Oyj 'B' EUR 1,564 99,379 0.02 Valmet Oyj EUR 7,626 214,853 0.03 Wartsila Oyj Abp EUR 13,843 416,749 0.06 2,512,137 0.39 Germany Beiersdorf AG EUR 1,047 98,041 0.02 Bilfinger SE EUR 3,290 353,326 0.05 Continental AG EUR 4,573 310,640 0.05 Deutsche Post AG EUR 8,872 413,495 0.06 Deutsche Telekom AG EUR 14,974 413,306 0.06 Freenet AG EUR 13,457 394,632 0.06 Fresenius Medical Care AG EUR 10,025 408,694 0.06 FUCHS SE Preference EUR 8,053 306,932 0.05

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Henkel AG & Co. KGaA Preference EUR 1,291 89,782 0.01 K + S AG EUR 34,000 422,122 0.06 Mercedes-Benz Group AG EUR 4,901 294,297 0.04 Nemetschek SE EUR 1,005 93,248 0.01 Nordex SE EUR 14,299 416,257 0.06 Rational AG EUR 149 98,139 0.02 Talanx AG EUR 3,112 353,477 0.05 thyssenkrupp AG EUR 7,917 72,832 0.01 TUI AG EUR 6,669 59,886 0.01 4,599,106 0.68 Guernsey Amdocs Ltd. USD 294 20,154 20,154 Ireland AIB Group plc EUR 18,173 166,169 0.03 Alkermes plc USD 2,775 66,111 0.01 Ryanair Holdings plc EUR 15,699 463,915 0.07 Willis Towers Watson plc USD 276 77,222 0.01 773,417 0.12 Israel Check Point Software Technologies Ltd. USD 467 73,785 0.01 73,785 0.01 Italy A2A SpA EUR 134,019 309,244 0.05 Azimut Holding SpA EUR 10,815 384,472 0.06 Banca Monte dei Paschi di Siena SpA EUR 28,305 256,403 0.04 De' Longhi SpA EUR 2,500 90,786 0.01 Enel SpA EUR 46,323 410,692 0.06 Generali EUR 10,925 390,221 0.06 Hera SpA EUR 101,556 407,726 0.06 Moncler SpA EUR 1,627 88,980 0.01 Reply SpA EUR 812 92,909 0.01 Saipem SpA EUR 92,357 224,066 0.03 Unipol Assicurazioni SpA EUR 13,953 285,595 0.04 2,941,094 0.43 Jersey Caledonia Mining Corp. plc USD 3,094 68,943 0.01 Janus Henderson Group plc USD 1,877 76,026 0.01 144,969 0.02 Marshall Islands DHT Holdings, Inc. USD 6,156 64,000 0.01 64,000 0.01 Netherlands Adyen NV, 144A EUR 68 92,839 0.01 Argenx SE EUR 123 88,090 0.01 ASM International NV EUR 180 92,331 0.01 ASML Holding NV EUR 98 89,137 0.01 Heineken Holding NV EUR 6,664 415,951 0.06 Koninklijke Ahold Delhaize NV EUR 11,670 407,266 0.06 Signify NV, 144A EUR 9,015 188,541 0.03 Wolters Kluwer NV EUR 1,078 95,239 0.02 1,469,394 0.21 Norway Norsk Hydro ASA NOK 59,234 389,433 0.06 389,433 0.06

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Portugal Jeronimo Martins SGPS SA EUR 5,020 101,751 0.02 101,751 0.02 Singapore Flex Ltd. USD 1,333 68,577 0.01 68,577 0.01 Sweden AAK AB SEK 3,997 97,356 0.02 AddTech AB 'B' SEK 3,077 92,980 0.01 Atlas Copco AB 'A' SEK 6,104 92,990 0.01 Axfood AB SEK 4,032 108,179 0.02 Camurus AB SEK 1,678 95,045 0.02 Epiroc AB 'A' SEK 4,948 95,201 0.02 Essity AB 'B' SEK 16,967 415,623 0.06 Evolution AB, 144A SEK 1,697 98,205 0.02 H & M Hennes & Mauritz AB 'B' SEK 20,041 342,788 0.05 Sectra AB 'B' SEK 3,855 88,918 0.01 Securitas AB 'B' SEK 30,973 419,661 0.06 SKF AB 'B' SEK 15,488 350,019 0.05 Sweco AB 'B' SEK 6,482 90,242 0.01 Tele2 AB 'B' SEK 7,236 103,245 0.02 Telefonaktiebolaget LM Ericsson 'B' SEK 43,174 358,389 0.05 2,848,841 0.43 Switzerland ABB Ltd. CHF 1,489 93,702 0.01 Belimo Holding AG CHF 111 92,011 0.01 Bucher Industries AG CHF 1,178 464,916 0.07 EMS-Chemie Holding AG CHF 168 98,961 0.02 Garmin Ltd. USD 406 70,124 0.01 Geberit AG CHF 145 96,155 0.02 Givaudan SA CHF 28 94,764 0.01 Holcim AG CHF 4,212 351,516 0.05 Kuehne + Nagel International AG CHF 526 96,456 0.02 Logitech International SA CHF 4,265 369,770 0.06 Novartis AG CHF 4,394 516,722 0.08 Roche Holding AG CHF 1,192 419,364 0.06 Schindler Holding AG CHF 1,308 419,635 0.06 SFS Group AG CHF 849 98,819 0.02 SGS SA CHF 1,018 99,354 0.02 Sonova Holding AG CHF 439 96,426 0.02 Straumann Holding AG CHF 938 93,506 0.01 3,572,201 0.55 United Kingdom Anglogold Ashanti plc USD 956 69,418 0.01 TechnipFMC plc USD 1,773 67,270 0.01 136,688 0.02 United States of America A O Smith Corp. USD 1,203 68,506 0.01 ACADIA Pharmaceuticals, Inc. USD 3,164 71,957 0.01 ADMA Biologics, Inc. USD 4,424 68,708 0.01 ADT, Inc. USD 10,823 74,368 0.01 Alcoa Corp. USD 1,815 82,123 0.01 Allison Transmission Holdings, Inc. USD 438 36,511 0.01 Allstate Corp. (The) USD 433 76,741 0.01 American Financial Group, Inc. USD 657 76,460 0.01 Amneal Pharmaceuticals, Inc. USD 3,614 38,773 0.01

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Appfolio, Inc. 'A' USD 346 68,540 0.01 Applied Industrial Technologies, Inc. USD 314 68,650 0.01 Argan, Inc. USD 240 64,027 0.01 Artisan Partners Asset Management, Inc. 'A' USD 1,912 66,325 0.01 Assurant, Inc. USD 385 78,954 0.01 Astera Labs, Inc. USD 551 78,049 0.01 Avery Dennison Corp. USD 499 77,277 0.01 Axcelis Technologies, Inc. USD 969 66,286 0.01 AZZ, Inc. USD 765 69,814 0.01 Badger Meter, Inc. USD 454 67,421 0.01 Balchem Corp. USD 346 45,181 0.01 Best Buy Co., Inc. USD 1,164 66,334 0.01 Biogen, Inc. USD 504 75,524 0.01 BK Technologies Corp. USD 1,194 75,832 0.01 Blue Bird Corp. USD 1,559 62,389 0.01 Box, Inc. 'A' USD 2,618 66,673 0.01 Brinker International, Inc. USD 593 72,466 0.01 Bristol-Myers Squibb Co. USD 1,262 57,961 0.01 Buckle, Inc. (The) USD 1,415 64,361 0.01 Cactus, Inc. 'A' USD 1,836 71,411 0.01 Cal-Maine Foods, Inc. USD 929 62,941 0.01 Cantaloupe, Inc. USD 7,506 67,873 0.01 Cargurus, Inc. USD 2,217 72,393 0.01 Carlisle Cos., Inc. USD 251 68,360 0.01 Catalyst Pharmaceuticals, Inc. USD 3,439 68,344 0.01 Cavco Industries, Inc. USD 139 69,916 0.01 CF Industries Holdings, Inc. USD 1,143 75,269 0.01 CH Robinson Worldwide, Inc. USD 895 122,509 0.02 Champion Homes, Inc. USD 968 69,646 0.01 Chemed Corp. USD 185 67,397 0.01 Cincinnati Financial Corp. USD 537 74,676 0.01 Cirrus Logic, Inc. USD 1,375 138,735 0.02 Clear Secure, Inc. 'A' USD 2,249 67,176 0.01 Climb Global Solutions, Inc. USD 750 65,641 0.01 CNA Financial Corp. USD 480 19,511 Coca-Cola Consolidated, Inc. USD 139 18,144 Coeur Mining, Inc. USD 4,998 75,877 0.01 Cognizant Technology Solutions Corp. 'A' USD 2,095 148,057 0.02 Comfort Systems USA, Inc. USD 86 68,341 0.01 Consolidated Edison, Inc. USD 238 20,127 Corcept Therapeutics, Inc. USD 991 29,364 0.01 CorMedix, Inc. USD 7,547 74,734 0.01 CorVel Corp. USD 1,118 64,417 0.01 Crane Co. USD 437 68,624 0.01 Cricut, Inc. 'A' USD 16,209 68,317 0.01 CSW Industrials, Inc. USD 283 70,730 0.01 Daily Journal Corp. USD 171 70,954 0.01 Deckers Outdoor Corp. USD 1,491 131,612 0.02 Devon Energy Corp. USD 2,360 73,606 0.01 Dillard's, Inc. 'A' USD 254 131,134 0.02 DNOW, Inc. USD 5,883 66,371 0.01 Docusign, Inc. USD 1,178 68,607 0.01 Dolby Laboratories, Inc. 'A' USD 1,206 65,945 0.01 Dollar Tree, Inc. USD 728 76,250 0.01 Donaldson Co., Inc. USD 295 22,270 Doximity, Inc. 'A' USD 1,678 63,265 0.01 Dropbox, Inc. 'A' USD 3,026 71,627 0.01

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Duolingo, Inc. USD 440 65,750 0.01 Dynatrace, Inc. USD 1,790 66,055 0.01 eBay, Inc. USD 1,062 78,760 0.01 eGain Corp. USD 2,703 23,682 EMCOR Group, Inc. USD 133 69,282 0.01 Energy Recovery, Inc. USD 5,564 63,909 0.01 Enerpac Tool Group Corp. USD 1,412 45,975 0.01 Ennis, Inc. USD 4,547 69,728 0.01 EPAM Systems, Inc. USD 410 71,524 0.01 ePlus, Inc. USD 899 67,131 0.01 ESCO Technologies, Inc. USD 267 44,420 0.01 Evercore, Inc. 'A' USD 498 144,276 0.02 EverQuote, Inc. 'A' USD 3,076 70,716 0.01 Exelixis, Inc. USD 3,929 146,629 0.02 ExlService Holdings, Inc. USD 1,971 71,224 0.01 Expedia Group, Inc. USD 80 19,298 Expeditors International of Washington, Inc. USD 1,137 144,258 0.02 Exponent, Inc. USD 1,110 65,648 0.01 F&G Annuities & Life, Inc. USD 44 1,156 F5, Inc. USD 682 148,229 0.02 Fastenal Co. USD 1,952 66,698 0.01 Federal Signal Corp. USD 729 67,404 0.01 FedEx Corp. USD 310 76,246 0.01 Fidelity National Financial, Inc. USD 374 17,384 First Solar, Inc. USD 314 69,842 0.01 FNB Corp. USD 4,981 72,523 0.01 Fox Corp. 'A' USD 1,263 78,579 0.01 Gap, Inc. (The) USD 3,133 68,291 0.01 Gentex Corp. USD 3,482 68,991 0.01 Gilead Sciences, Inc. USD 731 76,396 0.01 Global Industrial Co. USD 2,803 69,738 0.01 Globus Medical, Inc. 'A' USD 933 69,360 0.01 Goldman Sachs Group, Inc. (The) USD 99 74,095 0.01 Graco, Inc. USD 974 67,980 0.01 Grand Canyon Education, Inc. USD 497 70,379 0.01 Green Brick Partners, Inc. USD 1,230 65,624 0.01 Hackett Group, Inc. (The) USD 1,403 23,450 Halozyme Therapeutics, Inc. USD 1,729 99,078 0.02 Hamilton Lane, Inc. 'A' USD 631 72,161 0.01 Hanover Insurance Group, Inc. (The) USD 488 75,943 0.01 Harmony Biosciences Holdings, Inc. USD 2,202 70,159 0.01 Hartford Insurance Group, Inc. (The) USD 657 77,087 0.01 HCI Group, Inc. USD 144 23,503 Home BancShares, Inc. USD 3,068 72,569 0.01 Houlihan Lokey, Inc. USD 456 67,632 0.01 Hudson Technologies, Inc. USD 11,092 64,694 0.01 Huntington Bancshares, Inc. USD 5,007 73,968 0.01 I3 Verticals, Inc. 'A' USD 1,090 23,379 Idaho Strategic Resources, Inc. USD 2,099 72,025 0.01 IDEXX Laboratories, Inc. USD 113 65,092 0.01 IDT Corp. 'B' USD 1,579 68,850 0.01 IES Holdings, Inc. USD 202 66,910 0.01 Illumina, Inc. USD 658 73,484 0.01 Incyte Corp. USD 1,696 142,632 0.02

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Innovex International, Inc. USD 3,532 65,771 0.01 InterDigital, Inc. USD 491 133,104 0.02 Interparfums, Inc. USD 968 69,918 0.01 Investors Title Co. USD 307 65,256 0.01 iRadimed Corp. USD 875 72,476 0.01 Jack Henry & Associates, Inc. USD 946 146,985 0.02 Jones Lang LaSalle, Inc. USD 262 75,061 0.01 Keros Therapeutics, Inc. USD 1,282 22,224 Kforce, Inc. USD 1,830 48,179 0.01 Kingstone Cos., Inc. USD 1,846 26,453 Kinsale Capital Group, Inc. USD 212 70,601 0.01 Kroger Co. (The) USD 362 19,258 Krystal Biotech, Inc. USD 365 76,621 0.01 Landstar System, Inc. USD 214 26,184 Leidos Holdings, Inc. USD 482 74,037 0.01 LeMaitre Vascular, Inc. USD 932 64,358 0.01 Lennar Corp. 'A' USD 745 65,210 0.01 Lennox International, Inc. USD 167 69,047 0.01 Leonardo DRS, Inc. USD 2,599 75,439 0.01 Liquidity Services, Inc. USD 2,895 74,714 0.01 Lululemon Athletica, Inc. USD 433 76,616 0.01 M&T Bank Corp. USD 437 74,968 0.01 Macy's, Inc. USD 3,712 69,692 0.01 Magnolia Oil & Gas Corp. 'A' USD 3,512 65,458 0.01 Manhattan Associates, Inc. USD 455 67,143 0.01 Maplebear, Inc. USD 1,848 70,776 0.01 MarketAxess Holdings, Inc. USD 472 72,843 0.01 Marzetti Company (The) USD 470 65,799 0.01 Medpace Holdings, Inc. USD 139 66,473 0.01 MercadoLibre, Inc. USD 42 72,033 0.01 MetLife, Inc. USD 1,086 72,995 0.01 Mettler-Toledo International, Inc. USD 57 67,665 0.01 MGIC Investment Corp. USD 5,868 145,994 0.02 MGM Resorts International USD 1,750 54,372 0.01 MiMedx Group, Inc. USD 11,669 67,265 0.01 Moelis & Co. 'A' USD 1,224 71,640 0.01 Monarch Casino & Resort, Inc. USD 269 21,919 Monolithic Power Systems, Inc. USD 87 67,141 0.01 Morgan Stanley USD 488 73,766 0.01 Mueller Industries, Inc. USD 918 89,733 0.01 Napco Security Technologies, Inc. USD 1,937 68,775 0.01 Nathan's Famous, Inc. USD 839 66,844 0.01 National Beverage Corp. USD 819 22,238 National Fuel Gas Co. USD 1,109 75,598 0.01 NerdWallet, Inc. 'A' USD 5,462 63,017 0.01 NetApp, Inc. USD 1,474 134,404 0.02 Neurocrine Biosciences, Inc. USD 554 66,903 0.01 New York Times Co. (The) 'A' USD 1,213 71,699 0.01 NewMarket Corp. USD 228 133,420 0.02 Newmont Corp. USD 936 79,577 0.01 Nexstar Media Group, Inc. USD 440 76,071 0.01 Nextpower, Inc. 'A' USD 912 67,644 0.01 Niagen Bioscience, Inc. USD 12,153 65,812 0.01 NMI Holdings, Inc. USD 2,073 71,998 0.01 Northern Trust Corp. USD 637 74,084 0.01 NRG Energy, Inc. USD 527 71,454 0.01 NVE Corp. USD 1,233 62,288 0.01

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets NVR, Inc. USD 23 142,819 0.02 Oil-Dri Corp. of America USD 1,476 61,506 0.01 Old Dominion Freight Line, Inc. USD 556 74,231 0.01 Old Republic International Corp. USD 1,989 77,294 0.01 Omnicom Group, Inc. USD 301 20,695 OneSpan, Inc. USD 6,450 70,516 0.01 Onto Innovation, Inc. USD 551 74,061 0.01 Oshkosh Corp. USD 666 71,241 0.01 Paycom Software, Inc. USD 486 65,945 0.01 PC Connection, Inc. USD 1,358 66,787 0.01 Pegasystems, Inc. USD 2,891 147,005 0.02 Penumbra, Inc. USD 272 72,006 0.01 Perdoceo Education Corp. USD 2,757 68,852 0.01 Photronics, Inc. USD 3,192 86,972 0.01 Pilgrim's Pride Corp. USD 2,337 77,585 0.01 Pinterest, Inc. 'A' USD 1,032 22,750 PJT Partners, Inc. 'A' USD 477 67,908 0.01 Powell Industries, Inc. USD 258 70,029 0.01 PrimeEnergy Resources Corp. USD 301 43,826 0.01 Primerica, Inc. USD 343 75,454 0.01 Principal Financial Group, Inc. USD 988 74,206 0.01 Progyny, Inc. USD 3,152 68,920 0.01 Prosperity Bancshares, Inc. USD 931 54,784 0.01 Protagonist Therapeutics, Inc. USD 919 68,343 0.01 PTC Therapeutics, Inc. USD 708 45,791 0.01 PTC, Inc. USD 303 44,945 0.01 PulteGroup, Inc. USD 1,363 136,085 0.02 Qualys, Inc. USD 558 63,143 0.01 Rambus, Inc. USD 859 67,209 0.01 Raymond James Financial, Inc. USD 537 73,427 0.01 Red Violet, Inc. USD 1,472 71,378 0.01 Reddit, Inc. 'A' USD 378 73,984 0.01 Regions Financial Corp. USD 3,231 74,554 0.01 ResMed, Inc. USD 323 66,245 0.01 REV Group, Inc. USD 1,442 74,663 0.01 Revolve Group, Inc. USD 3,176 81,641 0.01 Rigel Pharmaceuticals, Inc. USD 1,835 66,919 0.01 Rollins, Inc. USD 1,327 67,816 0.01 Rush Street Interactive, Inc. USD 4,351 71,983 0.01 SEI Investments Co. USD 2,049 143,096 0.02 SIGA Technologies, Inc. USD 12,923 67,231 0.01 Snap-on, Inc. USD 489 143,479 0.02 Sprinklr, Inc. 'A' USD 10,614 70,311 0.01 SPS Commerce, Inc. USD 954 72,400 0.01 Sterling Infrastructure, Inc. USD 255 66,490 0.01 Stifel Financial Corp. USD 678 72,288 0.01 Stoke Therapeutics, Inc. USD 2,600 70,266 0.01 Strattec Security Corp. USD 671 43,501 0.01 Stride, Inc. USD 1,241 68,609 0.01 Synchrony Financial USD 1,035 73,524 0.01 T Rowe Price Group, Inc. USD 1,613 140,610 0.02 Taylor Morrison Home Corp. USD 1,436 71,980 0.01 Teradyne, Inc. USD 438 72,186 0.01 Texas Pacific Land Corp. USD 264 64,563 0.01 Textron, Inc. USD 1,017 75,484 0.01 Toast, Inc. 'A' USD 2,310 69,844 0.01 Toll Brothers, Inc. USD 629 72,420 0.01

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Tootsie Roll Industries, Inc. USD 2,085 65,029 0.01 Trade Desk, Inc. (The) 'A' USD 656 21,203 Tradeweb Markets, Inc. 'A' USD 748 68,492 0.01 Travelers Cos., Inc. (The) USD 310 76,562 0.01 Tyler Technologies, Inc. USD 174 67,255 0.01 Ubiquiti, Inc. USD 145 68,318 0.01 UGI Corp. USD 2,338 74,513 0.01 UiPath, Inc. 'A' USD 3,469 48,412 0.01 Ulta Beauty, Inc. USD 148 76,241 0.01 United Bankshares, Inc. USD 549 17,950 United States Lime & Minerals, Inc. USD 659 67,188 0.01 United Therapeutics Corp. USD 162 67,210 0.01 Universal Display Corp. USD 688 68,410 0.01 Universal Health Services, Inc. 'B' USD 92 17,078 Urban Outfitters, Inc. USD 1,083 69,400 0.01 US Bancorp USD 1,659 75,375 0.01 Valley National Bancorp USD 5,497 54,668 0.01 Valmont Industries, Inc. USD 209 71,595 0.01 Veeva Systems, Inc. 'A' USD 332 63,104 0.01 VeriSign, Inc. USD 324 67,024 0.01 Verizon Communications, Inc. USD 2,227 77,232 0.01 Vicor Corp. USD 872 81,375 0.01 Visteon Corp. USD 792 64,131 0.01 Vita Coco Co., Inc. (The) USD 1,567 70,728 0.01 W R Berkley Corp. USD 1,296 77,377 0.01 Watsco, Inc. USD 231 66,274 0.01 Watts Water Technologies, Inc. 'A' USD 292 68,626 0.01 WD-40 Co. USD 402 67,396 0.01 Webster Financial Corp. USD 1,354 72,562 0.01 West Pharmaceutical Services, Inc. USD 295 69,110 0.01 Western Alliance Bancorp USD 251 17,967 Williams-Sonoma, Inc. USD 445 67,668 0.01 Winmark Corp. USD 188 64,821 0.01 WW Grainger, Inc. USD 82 70,452 0.01 XPEL, Inc. USD 1,706 72,499 0.01 Yelp, Inc. USD 2,664 68,934 0.01 YETI Holdings, Inc. USD 1,965 73,902 0.01 Yum China Holdings, Inc. USD 1,865 75,810 0.01 Zions Bancorp NA USD 1,493 74,418 0.01 Zoom Communications, Inc. USD 939 68,991 0.01 19,290,291 2.73 Total Equities 41,457,099 6.06 Total Transferable securities and money market instruments admitted to an official exchange listing 41,457,099 6.06 Transferable securities and money market instruments dealt in on another regulated market Bonds Germany LANDESBANK BADENWUERTTEMBERG EURO 1.92% 02/01/2026 EUR 80,000,000 80,000,000 11.70 80,000,000 11.70 Qatar Qatar National Bank QPSC 1.93% 06/01/2026 EUR 90,000,000 90,000,000 13.16 90,000,000 13.16

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Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets United Kingdom SMBC BANK INTERNATIONAL plc EURO 1.88% 02/01/2026 EUR 55,000,000 55,000,000 8.05 55,000,000 8.05 Total Bonds 225,000,000 32.91 Certificates of Deposit Australia Commonwealth Bank of Australia, 0%, 03/06/2026 EUR 10,000,000 9,911,221 1.45 9,911,221 1.45 Japan Mitsubishi UFJ Trust & Banking Corp. 0% 02/04/2026 EUR 10,000,000 9,979,722 1.46 Mitsubishi UFJ Trust & Banking Corp. 0% 03/17/2026 EUR 25,000,000 24,889,621 3.64 Mizuho Bank Ltd, 0%, 02/06/2026 EUR 15,000,000 14,969,639 2.19 Norinchukin Bank 0% 02/13/2026 EUR 20,000,000 19,949,041 2.92 Sumitomo Trust and Banking Co., Ltd. 0% 02/04/2026 EUR 20,000,000 19,961,832 2.92 89,749,855 13.13 Norway DNB Bank ASA, 0%, 06/12/2026 EUR 25,000,000 24,764,638 3.62 24,764,638 3.62 United Arab Emirates Abu Dhabi Commercial Bank PJSC EUR 10,000,000 9,998,817 1.46 9,998,817 1.46 United Kingdom Standard Chartered plc, FRN, 2.253% 09/01/2026 EUR 5,000,000 5,000,663 0.73 5,000,663 0.73 United States of America Bank of America Corp ., 0% 01/07/2026 EUR 5,000,000 4,998,251 0.73 Bank of America Corp., 0% 03/04/2026 EUR 10,000,000 9,965,887 1.46 14,964,138 2.19 Total Certificates of Deposit 154,389,332 22.58 Commercial Papers France Agence Centrale Organismes de Securite Sociale 0% 02/17/2026 EUR 25,000,000 24,932,118 3.65 Satellite SASU 0% 01/23/2026 EUR 20,000,000 19,972,400 2.92 Satellite SASU 0% 02/02/2026 EUR 10,000,000 9,980,175 1.46 54,884,693 8.03

Investments Currency Quantity/ Nominal Value Market Value EUR

% of Net Assets Germany Deutche Bank AG., 0% 04/24/2026 EUR 10,000,000 9,935,702 1.45 Deutche Bank AG., 0% 06/01/2026 EUR 10,000,000 9,913,601 1.45 Deutche Bank AG., 0% 06/08/2026 EUR 10,000,000 9,909,486 1.45 29,758,789 4.35 Ireland Anglesea Funding Plc 0% 01/06/2026 EUR 25,000,000 24,991,503 3.66 Halkin Finance plc 0% 01/07/2026 EUR 25,000,000 24,990,282 3.66 Matchpoint Finance plc 0% 01/26/2026 EUR 2,500,000 2,496,007 0.36 52,477,792 7.68 Luxembourg Verto Capital, 0%, 04/15/2026 EUR 20,000,000 19,994,168 2.92 19,994,168 2.92 Total Commercial Papers 157,115,442 22.98 Total Transferable securities and money market instruments dealt in on another regulated market 536,504,774 78.47 Other transferable securities and money market instruments Equities United States of America ABIOMED, Inc. § USD 403 - -Total Equities - Total Other transferable securities and money market instruments - Units of authorised UCITS or other collective investment undertakings Collective Investment Schemes Ireland Aviva Investors Liquidity Funds plc - Euro Liquidity Fund † EUR 379,982 40,304,708 5.90 40,304,708 5.90 Total Collective Investment Schemes 40,304,708 5.90 Total Units of authorised UCITS or other collective investment undertakings 40,304,708 5.90 Total investments 618,266,581 90.43 Cash/(bank overdraft) 62,664,223 9.17 Other assets/(liabilities) 2,732,190 0.40 Total net assets 683,662,994 100.00 § Security is valued at its fair value under the direction of the Board of Directors. † Related Party Fund

Forward Currency Exchange Contracts

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets AUD 90,000 USD 59,018 21/01/2026 Merrill Lynch 856 AUD 2,240,000 USD 1,474,847 21/01/2026 Morgan Stanley 16,240 AUD 370,000 USD 243,497 18/02/2026 Deutsche Bank 2,783 AUD 410,000 USD 267,253 18/02/2026 Morgan Stanley 5,265 AUD 130,000 USD 84,849 18/02/2026 Standard Chartered Bank 1,576 AUD 110,000 USD 73,047 18/03/2026 Goldman Sachs 263 AUD 940,000 USD 625,549 18/03/2026 Societe Generale 1,123 CAD 340 EUR 209 12/01/2026 BNY Mellon 2 CAD 340 EUR 211 20/01/2026 BNY Mellon - -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets CAD 340 EUR 210 27/01/2026 BNY Mellon 1 CAD 340 EUR 210 02/02/2026 BNY Mellon 1 CAD 209,074 USD 150,000 21/01/2026 Merrill Lynch 2,272 CAD 2,174,236 USD 1,560,000 21/01/2026 Societe Generale 23,547 CAD 1,404,788 USD 1,020,000 18/02/2026 Deutsche Bank 5,992 CAD 803,775 USD 580,000 18/02/2026 Goldman Sachs 6,496 CAD 3,652,173 USD 2,630,000 18/02/2026 Merrill Lynch 34,097 0.01 CAD 1,158,741 USD 830,000 18/02/2026 Morgan Stanley 14,582 CAD 932,066 USD 680,000 18/03/2026 Goldman Sachs 1,892 CAD 206,136 USD 150,000 18/03/2026 Morgan Stanley 748 CAD 4,813,276 USD 3,500,000 18/03/2026 Societe Generale 19,601 CAD 1,496,725 USD 1,090,000 18/03/2026 Standard Chartered Bank 4,697 CHF 14,105 EUR 15,134 12/01/2026 BNY Mellon 36 CHF 22,600 EUR 24,192 16/01/2026 Citigroup 121 CHF 3,292 EUR 3,541 16/01/2026 Merrill Lynch - CHF 29,000 EUR 31,088 16/01/2026 NatWest 110 CHF 6,700 EUR 7,169 16/01/2026 Royal Bank of Canada 39 CHF 1,200 EUR 1,290 16/01/2026 Standard Chartered Bank 1 CHF 11,800 EUR 12,675 16/01/2026 UBS 19 CHF 14,105 EUR 15,059 20/01/2026 BNY Mellon 119 CHF 14,105 EUR 15,107 27/01/2026 BNY Mellon 79 CHF 47,576 USD 60,000 21/01/2026 Standard Chartered Bank 161 CHF 7,978 USD 10,000 18/02/2026 Barclays 105 CHF 4,326,484 USD 5,460,000 18/02/2026 Societe Generale 25,400 0.01 CHF 165,463 USD 210,000 18/03/2026 Standard Chartered Bank 496 CLP 4,252,928,000 USD 4,490,000 21/01/2026 Morgan Stanley 197,418 0.03 CLP 1,886,826,539 USD 2,040,000 18/02/2026 Goldman Sachs 47,603 0.01 CLP 666,497,300 USD 730,000 18/03/2026 Deutsche Bank 8,784 COP 10,332,833,400 USD 2,610,000 21/01/2026 Goldman Sachs 80,213 0.01 CZK 62,120,240 USD 2,990,000 21/01/2026 Morgan Stanley 24,892 CZK 70,956,153 USD 3,430,000 18/02/2026 Goldman Sachs 17,179 CZK 4,744,946 USD 230,000 18/03/2026 Goldman Sachs 695 CZK 825,858 USD 40,000 18/03/2026 Standard Chartered Bank 148 DKK 10,600 EUR 1,419 16/01/2026 Morgan Stanley - -

EUR 88,552 CHF 81,700 16/01/2026

Canadian Imperial Bank of Commerce 660 EUR 536,200 CHF 495,742 16/01/2026 Morgan Stanley 2,884 EUR 41,470 CHF 38,000 16/01/2026 Standard Chartered Bank 590 EUR 3,004,000 CHF 2,781,230 16/01/2026 UBS 11,971 EUR 6,470 DKK 48,300 16/01/2026 Citigroup 2 EUR 19,508 DKK 145,600 16/01/2026 Deutsche Bank 11 EUR 1,140,579 DKK 8,510,168 16/01/2026 HSBC 961 EUR 23,824 DKK 177,800 16/01/2026 J.P. Morgan 14 EUR 57,662 DKK 430,300 16/01/2026 Morgan Stanley 40 EUR 78,411 DKK 585,229 16/01/2026 NatWest 41 EUR 5,987 GBP 5,232 02/02/2026 BNY Mellon 5 EUR 4,641 NOK 54,200 16/01/2026 BNP Paribas 69 EUR 495,370 NOK 5,813,791 16/01/2026 HSBC 4,929 EUR 10,438 NOK 123,000 16/01/2026 Morgan Stanley 62 EUR 16,509 NOK 195,500 16/01/2026 NatWest 17 EUR 18,553 NOK 216,800 16/01/2026 Standard Chartered Bank 264 EUR 683 USD 794 12/01/2026 BNY Mellon 7 EUR 26,831,000 USD 31,262,091 16/01/2026 Deutsche Bank 232,647 0.04 EUR 1,191,850 USD 1,392,300 16/01/2026 HSBC 7,256 EUR 19,529 USD 22,900 16/01/2026 Morgan Stanley 45 EUR 54,732,310 USD 63,765,684 16/01/2026 Royal Bank of Canada 479,312 0.08 EUR 533,210 USD 621,724 16/01/2026 Standard Chartered Bank 4,236 EUR 70,000 USD 80,988 21/01/2026 Goldman Sachs 1,111 -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets EUR 60,000 USD 70,062 21/01/2026 Merrill Lynch 404 EUR 20,000 USD 23,050 21/01/2026 Morgan Stanley 393 EUR 60,000 USD 69,487 21/01/2026 Royal Bank of Canada 893 EUR 530,000 USD 618,444 21/01/2026 Standard Chartered Bank 3,941 EUR 30,000 USD 34,974 18/02/2026 BNP Paribas 289 EUR 170,000 USD 198,557 18/02/2026 Merrill Lynch 1,327 EUR 450,000 USD 526,741 18/02/2026 Standard Chartered Bank 2,537 EUR 310,000 USD 364,957 18/03/2026 Morgan Stanley 388 GBP 46,508,113 EUR 52,761,067 12/01/2026 BNY Mellon 471,947 0.07 GBP 46,508,114 EUR 53,146,820 20/01/2026 BNY Mellon 65,378 0.01 GBP 46,508,081 EUR 52,979,157 27/01/2026 BNY Mellon 214,807 0.03 GBP 46,500,666 EUR 53,167,779 02/02/2026 BNY Mellon 1,932 GBP 160,000 USD 211,148 21/01/2026 BNP Paribas 3,449 GBP 50,000 USD 65,416 21/01/2026 Merrill Lynch 1,561 GBP 60,000 USD 78,777 21/01/2026 Morgan Stanley 1,636 GBP 1,040,000 USD 1,386,680 21/01/2026 Societe Generale 10,324 GBP 110,000 USD 145,348 21/01/2026 Standard Chartered Bank 2,215 GBP 10,000 USD 13,359 18/02/2026 BNP Paribas 76 -

GBP 10,000 USD 13,328 18/02/2026 Canadian Imperial Bank of Commerce 103 GBP 1,750,000 USD 2,313,506 18/02/2026 Standard Chartered Bank 34,056 0.01 GBP 110,000 USD 147,042 18/03/2026 Goldman Sachs 749 GBP 40,000 USD 53,365 18/03/2026 Nomura 362 GBP 50,000 USD 67,115 18/03/2026 Societe Generale 105 HUF 13,610,132 USD 40,000 21/01/2026 BNP Paribas 1,337 HUF 33,651,783 USD 100,000 21/01/2026 Deutsche Bank 2,373 HUF 67,297,168 USD 200,000 21/01/2026 Goldman Sachs 4,729 HUF 87,195,042 USD 260,000 21/01/2026 Merrill Lynch 5,391 HUF 50,806,048 USD 150,000 21/01/2026 Morgan Stanley 4,412 HUF 175,765,942 USD 530,000 18/02/2026 Goldman Sachs 4,964 HUF 329,229,097 USD 1,000,000 18/02/2026 Merrill Lynch 3,139 HUF 16,532,140 USD 50,000 18/02/2026 Morgan Stanley 340 HUF 19,729,472 USD 60,000 18/03/2026 Deutsche Bank 31 HUF 205,262,340 USD 620,000 18/03/2026 Merrill Lynch 3,914 HUF 555,755,280 USD 1,690,000 18/03/2026 Morgan Stanley 987 HUF 43,036,567 USD 130,000 18/03/2026 Standard Chartered Bank 815 IDR 50,944,320,000 USD 3,040,000 18/02/2026 Goldman Sachs 6,521 -

INR 3,613,900 USD 40,000 18/02/2026 Canadian Imperial Bank of Commerce 30 INR 6,335,282 USD 70,000 18/02/2026 Deutsche Bank 156 INR 783,578,880 USD 8,610,000 18/03/2026 Standard Chartered Bank 38,963 0.01 KRW 3,499,107,600 USD 2,400,000 19/02/2026 Goldman Sachs 25,120 KRW 14,659,100 USD 10,000 19/02/2026 Nomura 152 KRW 102,719,800 USD 70,000 19/02/2026 Royal Bank of Canada 1,123 KRW 3,649,181,120 USD 2,480,000 18/03/2026 Morgan Stanley 48,171 0.01 KRW 88,268,592 USD 60,000 18/03/2026 Royal Bank of Canada 1,155 -

MXN 367,854 USD 20,000 21/01/2026 Canadian Imperial Bank of Commerce 356 MXN 1,108,897 USD 60,000 21/01/2026 Morgan Stanley 1,319 MXN 123,955,670 USD 6,740,000 21/01/2026 Standard Chartered Bank 119,325 0.02 MXN 1,117,455 USD 60,000 18/02/2026 Goldman Sachs 1,575 MXN 122,309,043 USD 6,680,000 18/02/2026 Standard Chartered Bank 76,577 0.01 MXN 1,269,912 USD 70,000 18/03/2026 Standard Chartered Bank 76 MYR 11,845,692 USD 2,870,000 21/01/2026 Goldman Sachs 45,388 0.01 MYR 2,610,450 USD 620,000 21/01/2026 Morgan Stanley 20,606 MYR 10,661,166 USD 2,610,000 19/02/2026 Goldman Sachs 21,080 MYR 1,109,560 USD 270,000 19/02/2026 Morgan Stanley 3,583 -

NOK 410,100 EUR 34,520 16/01/2026 Canadian Imperial Bank of Commerce 75 -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets NOK 1,920,586 USD 190,000 18/02/2026 Merrill Lynch 342 NOK 1,528,215 USD 150,000 18/02/2026 Morgan Stanley 1,277 NOK 101,465 USD 10,000 18/02/2026 NatWest 50 NOK 711,291 USD 70,000 18/02/2026 Royal Bank of Canada 438 NOK 43,149,422 USD 4,270,000 18/03/2026 Deutsche Bank 5,679 NZD 1,020,000 USD 587,062 21/01/2026 Standard Chartered Bank 12 NZD 190,000 USD 108,334 18/02/2026 BNP Paribas 966 PEN 7,354,818 USD 2,160,000 21/01/2026 Deutsche Bank 21,605 PEN 2,380,910 USD 700,000 21/01/2026 Goldman Sachs 6,346 PEN 5,764,245 USD 1,710,000 18/02/2026 Goldman Sachs 941 PHP 11,885,380 USD 200,000 18/02/2026 Merrill Lynch 1,016 PHP 4,730,640 USD 80,000 18/02/2026 Morgan Stanley 68 PHP 4,737,196 USD 80,000 18/02/2026 Royal Bank of Canada 162 PLN 804,122 USD 220,000 21/01/2026 Goldman Sachs 3,092 PLN 11,354,185 USD 3,120,000 21/01/2026 Morgan Stanley 32,086 0.01 PLN 3,821,058 USD 1,050,000 18/02/2026 Goldman Sachs 10,620 PLN 2,372,350 USD 650,000 18/02/2026 Merrill Lynch 8,212 PLN 4,389,635 USD 1,210,000 18/02/2026 Morgan Stanley 9,006 PLN 144,789 USD 40,000 18/02/2026 Royal Bank of Canada 221 PLN 292,990 USD 80,000 18/02/2026 Societe Generale 1,249 PLN 683,572 USD 190,000 18/03/2026 Merrill Lynch 48 PLN 468,718 USD 130,000 18/03/2026 Morgan Stanley 271 -

SEK 420,100 EUR 38,206 16/01/2026 Canadian Imperial Bank of Commerce 599 SEK 361,700 EUR 32,855 16/01/2026 Citigroup 555 SEK 254,800 EUR 23,452 16/01/2026 Merrill Lynch 84 SEK 512,745 EUR 46,837 16/01/2026 Morgan Stanley 525 SEK 510,200 EUR 46,485 16/01/2026 NatWest 641 SEK 2,345,700 EUR 213,615 16/01/2026 UBS 3,057 SEK 19,853,035 USD 2,120,000 21/01/2026 Goldman Sachs 30,569 0.01 SEK 1,029,487 USD 110,000 21/01/2026 Merrill Lynch 1,529 SEK 376,121 USD 40,000 21/01/2026 Standard Chartered Bank 719 SEK 1,497,247 USD 160,000 18/02/2026 Deutsche Bank 2,408 SEK 4,583,797 USD 490,000 18/02/2026 Merrill Lynch 7,234 SEK 16,204,108 USD 1,750,000 18/02/2026 Morgan Stanley 10,443 SEK 92,409 USD 10,000 18/03/2026 Standard Chartered Bank 55 SGD 470,332 EUR 310,484 27/01/2026 BNY Mellon 1,089 SGD 470,009 EUR 310,249 02/02/2026 BNY Mellon 1,143 SGD 9,834,153 USD 7,600,000 21/01/2026 Goldman Sachs 49,257 0.01 SGD 12,936 USD 10,000 21/01/2026 Morgan Stanley 62 SGD 38,946 USD 30,000 21/01/2026 NatWest 278 SGD 282,877 USD 220,000 19/02/2026 Deutsche Bank 589 SGD 8,911,492 USD 6,930,000 19/02/2026 Goldman Sachs 19,120 SGD 155,092 USD 120,000 19/02/2026 Morgan Stanley 848 SGD 64,397 USD 50,000 19/02/2026 Societe Generale 204 SGD 206,550 USD 160,000 19/02/2026 Standard Chartered Bank 973 SGD 141,236 USD 110,000 18/03/2026 Deutsche Bank 326 SGD 128,500 USD 100,000 18/03/2026 Goldman Sachs 365 SGD 1,715,457 USD 1,340,000 18/03/2026 Standard Chartered Bank 616 THB 164,030,464 USD 5,100,000 21/01/2026 Goldman Sachs 96,331 0.02 THB 8,076,993 USD 250,000 21/01/2026 Standard Chartered Bank 5,703 THB 952,992 USD 30,000 18/02/2026 Deutsche Bank 295 THB 180,729,097 USD 5,700,000 18/02/2026 Goldman Sachs 46,823 0.01 THB 3,823,728 USD 120,000 18/02/2026 Societe Generale 1,497 THB 2,262,512 USD 70,000 18/02/2026 Standard Chartered Bank 1,739 THB 18,236,534 USD 580,000 18/03/2026 Standard Chartered Bank 1,869 TWD 29,348,950 USD 930,000 18/03/2026 Goldman Sachs 1,940 TWD 4,105,868 USD 130,000 18/03/2026 Standard Chartered Bank 361 -

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Page 54

Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets USD 4,780,000 BRL 25,605,169 21/01/2026 Goldman Sachs 113,003 0.02 USD 20,000 BRL 109,888 21/01/2026 Societe Generale 48 USD 4,810,000 BRL 26,531,101 18/02/2026 Goldman Sachs 20,387 USD 130,000 BRL 714,437 18/02/2026 Societe Generale 952 USD 280,000 BRL 1,550,885 18/03/2026 Goldman Sachs 1,795 USD 210,000 CHF 165,449 21/01/2026 Morgan Stanley 587 USD 5,310,000 CHF 4,174,702 18/02/2026 Societe Generale 10,785 USD 170,000 CHF 132,982 18/03/2026 Standard Chartered Bank 639 USD 2,350,000 COP 8,909,263,000 21/01/2026 Goldman Sachs 15,546 USD 1,710,000 COP 6,582,764,700 18/02/2026 Goldman Sachs 1,292 USD 70,000 COP 269,172,400 18/02/2026 Royal Bank of Canada 118 USD 150,000 COP 577,146,000 18/03/2026 Goldman Sachs 951 USD 2,825 EUR 2,403 20/01/2026 BNY Mellon - USD 21,337,862 EUR 18,111,183 27/01/2026 BNY Mellon 33,995 0.01 USD 21,337,862 EUR 18,052,557 02/02/2026 BNY Mellon 87,475 0.01 USD 1,580,000 HUF 518,136,036 18/02/2026 Morgan Stanley 339 USD 170,000 IDR 2,831,873,600 18/02/2026 BNP Paribas 499 USD 660,000 IDR 11,026,785,000 18/02/2026 Deutsche Bank 286 USD 1,280,000 IDR 21,392,178,000 18/02/2026 Goldman Sachs 205 USD 470,000 IDR 7,848,595,000 18/02/2026 Standard Chartered Bank 398 USD 8,480,000 INR 754,499,520 21/01/2026 Morgan Stanley 85,880 0.01 USD 1,370,000 JPY 207,681,793 21/01/2026 Deutsche Bank 36,189 0.01 USD 920,000 JPY 140,762,300 18/02/2026 Morgan Stanley 15,370 USD 860,000 JPY 133,316,383 18/02/2026 Standard Chartered Bank 4,928 USD 580,000 KRW 829,929,540 18/03/2026 Morgan Stanley 2,598 USD 3,850,000 NOK 38,708,190 21/01/2026 Goldman Sachs 10,277 USD 434,414 NZD 750,000 21/01/2026 Morgan Stanley 2,331 USD 215,443 NZD 370,000 18/03/2026 Morgan Stanley 1,738 USD 990,000 PEN 3,333,825 18/02/2026 Deutsche Bank 305 USD 100,000 PEN 336,700 18/02/2026 Royal Bank of Canada 43 USD 1,660,000 PHP 98,055,180 18/02/2026 Goldman Sachs 104 USD 200,000 PHP 11,807,800 18/02/2026 Standard Chartered Bank 100 USD 130,000 PLN 467,163 18/03/2026 Merrill Lynch 96 USD 1,980,000 TWD 60,116,830 21/01/2026 Deutsche Bank 58,445 0.01 USD 1,120,000 TWD 34,179,350 21/01/2026 Goldman Sachs 28,358 0.01 USD 170,000 TWD 5,196,486 21/01/2026 Royal Bank of Canada 4,073 USD 130,000 TWD 3,937,986 21/01/2026 Societe Generale 4,083 USD 150,000 TWD 4,568,400 21/01/2026 Standard Chartered Bank 4,046 USD 3,150,000 TWD 97,089,300 23/02/2026 BNP Paribas 56,062 0.01 USD 250,000 TWD 7,858,900 18/03/2026 BNP Paribas 303 ZAR 76,673,989 USD 4,430,000 21/01/2026 Societe Generale 162,110 0.03 ZAR 695,243 USD 40,000 18/02/2026 Goldman Sachs 1,539 ZAR 11,314,560 USD 660,000 18/02/2026 Merrill Lynch 17,382 ZAR 54,617,277 USD 3,190,000 18/02/2026 Morgan Stanley 80,450 0.01 ZAR 853,177 USD 50,000 18/02/2026 Standard Chartered Bank 1,113 ZAR 339,057 USD 20,000 18/03/2026 Merrill Lynch 296 ZAR 65,245,996 USD 3,830,000 18/03/2026 Morgan Stanley 72,747 0.01 Total Unrealised Gain on Forward Currency Exchange Contracts - Assets 3,889,260 0.57 AUD 330,000 USD 220,958 18/03/2026 Standard Chartered Bank (752) BRL 27,973,442 USD 5,130,000 21/01/2026 Goldman Sachs (45,104) (0.01) BRL 219,473 USD 40,000 21/01/2026 Merrill Lynch (142) BRL 380,527 USD 70,000 18/02/2026 BNP Paribas (1,152) BRL 26,196,667 USD 4,860,000 18/02/2026 Goldman Sachs (114,111) (0.02) BRL 54,135 USD 10,000 18/02/2026 J.P. Morgan (199) BRL 25,497,221 USD 4,590,000 18/03/2026 Goldman Sachs (18,211) -

CHF 17,800 EUR 19,293 16/01/2026

Canadian Imperial Bank of Commerce (144) CHF 16,000 EUR 17,259 16/01/2026 Goldman Sachs (47) -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets CHF 82,900 EUR 89,748 16/01/2026 Morgan Stanley (565) CHF 7,800 EUR 8,454 16/01/2026 NA (63) CHF 14,105 EUR 15,214 02/02/2026 BNY Mellon (23) CHF 4,187,492 USD 5,310,000 21/01/2026 Societe Generale (10,528) CHF 31,361 USD 40,000 18/02/2026 Standard Chartered Bank (175) COP 191,690,000 USD 50,000 18/02/2026 BNP Paribas (212) COP 5,886,247,200 USD 1,570,000 18/02/2026 Goldman Sachs (35,928) (0.01) COP 609,081,850 USD 160,000 18/02/2026 Royal Bank of Canada (1,631) COP 8,248,629,100 USD 2,140,000 18/03/2026 Goldman Sachs (10,356) COP 193,035,750 USD 50,000 18/03/2026 Royal Bank of Canada (174) DKK 636,400 EUR 85,245 16/01/2026 Citigroup (23) DKK 156,700 EUR 20,996 16/01/2026 Deutsche Bank (12) DKK 4,528,900 EUR 606,656 16/01/2026 HSBC (179) DKK 7,200 EUR 965 16/01/2026 J.P. Morgan - DKK 21,146 EUR 2,833 16/01/2026 Merrill Lynch (1) DKK 68,800 EUR 9,218 16/01/2026 NatWest (5) DKK 301,800 EUR 40,443 16/01/2026 UBS (29) EUR 54,494 CHF 50,700 16/01/2026 Barclays (49) EUR 14,979 CHF 14,000 16/01/2026 Royal Bank of Canada (82) EUR 124,220 DKK 927,800 16/01/2026 Merrill Lynch (24) EUR 14,472 GBP 12,679 12/01/2026 BNY Mellon (40) EUR 14,467 GBP 12,679 20/01/2026 BNY Mellon (40) EUR 14,425 GBP 12,647 27/01/2026 BNY Mellon (40) -

EUR 6,741 NOK 80,525 16/01/2026

Canadian Imperial Bank of Commerce (52) -

EUR 129,624 SEK 1,425,300 16/01/2026 Canadian Imperial Bank of Commerce (2,031) EUR 44,738 SEK 493,100 16/01/2026 Citigroup (809) EUR 7,137 SEK 78,000 16/01/2026 Deutsche Bank (68) EUR 106,691 SEK 1,159,200 16/01/2026 Merrill Lynch (384) EUR 89,516 SEK 976,100 16/01/2026 Morgan Stanley (646) EUR 78,839 SEK 867,900 16/01/2026 NatWest (1,329) EUR 2,737,047 SEK 30,156,749 16/01/2026 UBS (48,526) (0.01) EUR 2,438 SGD 3,683 12/01/2026 BNY Mellon (1) EUR 1,630 SGD 2,463 20/01/2026 BNY Mellon (2) EUR 1,613 SGD 2,438 27/01/2026 BNY Mellon (2) EUR 1,400 SGD 2,115 02/02/2026 BNY Mellon (1) EUR 68,624 USD 80,977 16/01/2026 Barclays (273) EUR 30,000 USD 35,447 18/03/2026 Goldman Sachs (72) EUR 140,000 USD 165,091 18/03/2026 Merrill Lynch (56) EUR 750,000 USD 885,128 18/03/2026 Standard Chartered Bank (900) GBP 10,000 USD 13,502 18/03/2026 NatWest (46) IDR 10,153,893,000 USD 610,000 21/01/2026 Goldman Sachs (1,695) IDR 1,498,635,800 USD 90,000 21/01/2026 Royal Bank of Canada (224) IDR 107,079,232,400 USD 6,440,000 21/01/2026 Societe Generale (23,973) (0.01) IDR 1,996,068,000 USD 120,000 21/01/2026 Standard Chartered Bank (406) IDR 8,527,557,000 USD 510,000 17/03/2026 Goldman Sachs (290) INR 734,166,759 USD 8,220,000 21/01/2026 BNP Paribas (56,793) (0.01)

INR 883,076 USD 10,000 21/01/2026 Canadian Imperial Bank of Commerce (164) INR 5,303,298 USD 60,000 21/01/2026 Deutsche Bank (940) INR 886,400 USD 10,000 21/01/2026 Goldman Sachs (133) INR 3,543,640 USD 40,000 21/01/2026 Morgan Stanley (550) INR 9,746,226 USD 110,000 21/01/2026 Royal Bank of Canada (1,500) INR 2,647,329 USD 30,000 21/01/2026 Societe Generale (511) INR 755,661,280 USD 8,480,000 18/02/2026 Morgan Stanley (92,220) (0.01) INR 1,799,644 USD 20,000 18/02/2026 Royal Bank of Canada (54) INR 2,711,340 USD 30,000 18/03/2026 Goldman Sachs (41) JPY 165,312,725 USD 1,080,000 21/01/2026 Morgan Stanley (19,869) -

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Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets JPY 10,482,693 USD 70,000 21/01/2026 Societe Generale (2,549) JPY 33,195,838 USD 220,000 21/01/2026 Standard Chartered Bank (6,652) JPY 18,617,043 USD 120,000 18/02/2026 BNP Paribas (607) JPY 6,179,828 USD 40,000 18/02/2026 Goldman Sachs (343) JPY 87,957,923 USD 570,000 18/02/2026 Merrill Lynch (5,460) JPY 82,086,129 USD 530,000 18/02/2026 Morgan Stanley (3,440) JPY 3,075,404 USD 20,000 18/02/2026 Nomura (251) JPY 77,356,719 USD 500,000 18/02/2026 Standard Chartered Bank (3,697) JPY 20,178,782 USD 130,000 18/03/2026 Goldman Sachs (337) JPY 55,617,137 USD 360,000 18/03/2026 Merrill Lynch (2,365) JPY 3,093,099 USD 20,000 18/03/2026 Morgan Stanley (114) JPY 20,158,940 USD 130,000 18/03/2026 Societe Generale (446) JPY 168,377,362 USD 1,090,000 18/03/2026 Standard Chartered Bank (7,264) KRW 427,693,200 USD 300,000 21/01/2026 Deutsche Bank (2,892) KRW 299,723,096 USD 210,000 21/01/2026 Goldman Sachs (1,825) KRW 830,216,000 USD 580,000 21/01/2026 Merrill Lynch (3,620) KRW 385,319,210 USD 270,000 21/01/2026 Morgan Stanley (2,370) KRW 285,053,687 USD 200,000 21/01/2026 Royal Bank of Canada (1,972) KRW 169,799,280 USD 120,000 21/01/2026 Societe Generale (1,911) KRW 1,029,038,200 USD 720,000 21/01/2026 Standard Chartered Bank (5,422) MXN 1,267,154 USD 70,000 18/03/2026 Morgan Stanley (53) NOK 28,300 EUR 2,423 16/01/2026 BNP Paribas (36) NOK 33,200 EUR 2,819 16/01/2026 Citigroup (18) NOK 152,700 EUR 12,962 16/01/2026 Merrill Lynch (81) NOK 296,876 EUR 25,172 16/01/2026 Morgan Stanley (128) NOK 993,300 EUR 84,037 16/01/2026 NatWest (245) NOK 11,200 EUR 958 16/01/2026 Standard Chartered Bank (14) NOK 17,000 EUR 1,441 16/01/2026 UBS (7) NOK 36,270,949 USD 3,620,000 21/01/2026 Goldman Sachs (20,188) NOK 1,604,769 USD 160,000 21/01/2026 Merrill Lynch (755) NOK 701,176 USD 70,000 21/01/2026 Standard Chartered Bank (407) NOK 38,714,461 USD 3,850,000 18/02/2026 Goldman Sachs (10,142) NOK 300,779 USD 30,000 18/03/2026 Goldman Sachs (160) NOK 2,308,796 USD 230,000 18/03/2026 Standard Chartered Bank (990) NZD 170,000 USD 98,157 21/01/2026 Goldman Sachs (264) NZD 150,000 USD 86,485 21/01/2026 Merrill Lynch (128) NZD 110,000 USD 63,710 21/01/2026 Royal Bank of Canada (338) NZD 370,000 USD 215,220 18/02/2026 Morgan Stanley (1,732) NZD 1,140,000 USD 663,949 18/03/2026 Goldman Sachs (5,482) NZD 1,000,000 USD 577,666 18/03/2026 Morgan Stanley (783) NZD 2,120,000 USD 1,231,364 18/03/2026 Standard Chartered Bank (7,356) PHP 202,693,110 USD 3,470,000 21/01/2026 Standard Chartered Bank (24,926) (0.01) PHP 116,962,560 USD 1,980,000 18/02/2026 Goldman Sachs (49) PHP 14,756,050 USD 250,000 18/02/2026 Standard Chartered Bank (178) PHP 25,384,620 USD 430,000 18/03/2026 Deutsche Bank (653) PHP 91,061,740 USD 1,540,000 18/03/2026 Goldman Sachs (195) PHP 1,771,164 USD 30,000 18/03/2026 HSBC (43) PHP 11,825,800 USD 200,000 18/03/2026 Merrill Lynch (31) PHP 23,051,490 USD 390,000 18/03/2026 Morgan Stanley (187) PHP 8,840,963 USD 150,000 18/03/2026 Royal Bank of Canada (431) PHP 10,623,870 USD 180,000 18/03/2026 Standard Chartered Bank (306) PLN 827,034 USD 230,000 18/03/2026 Deutsche Bank (48) SEK 76,000 EUR 7,042 16/01/2026 HSBC (22) SEK 91,248 USD 10,000 18/03/2026 HSBC (52) SGD 471,577 EUR 313,211 12/01/2026 BNY Mellon (900) SGD 470,358 EUR 311,745 20/01/2026 BNY Mellon (196) TWD 109,353,888 USD 3,540,000 21/01/2026 BNP Paribas (53,859) (0.01) TWD 308,367 USD 10,000 21/01/2026 Royal Bank of Canada (167) -

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - MULTI-STRATEGY TARGET RETURN FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

The accompanying notes form an integral part of these financial statements. avivainvestors.com | Annual report and audited financial statements 56

Page 57

Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets TWD 22,138,959 USD 710,000 23/02/2026 BNP Paribas (5,748) TWD 2,815,470 USD 90,000 23/02/2026 Goldman Sachs (482) TWD 5,639,400 USD 180,000 23/02/2026 Merrill Lynch (737) TWD 11,757,668 USD 380,000 23/02/2026 Morgan Stanley (5,541) TWD 1,868,297 USD 60,000 23/02/2026 Royal Bank of Canada (556) TWD 19,989,631 USD 640,000 23/02/2026 Societe Generale (4,280) TWD 33,981,235 USD 1,090,000 23/02/2026 Standard Chartered Bank (9,006) TWD 940,914 USD 30,000 18/03/2026 BNP Paribas (94) USD 32,617 AUD 50,000 21/01/2026 BNP Paribas (621) USD 315,386 AUD 480,000 21/01/2026 Deutsche Bank (4,035) USD 168,817 AUD 260,000 21/01/2026 Goldman Sachs (3,902) USD 155,839 AUD 240,000 21/01/2026 Merrill Lynch (3,595) USD 220,671 AUD 340,000 21/01/2026 Morgan Stanley (5,179) USD 625,467 AUD 960,000 21/01/2026 Standard Chartered Bank (12,583) USD 538,366 AUD 810,000 18/02/2026 Societe Generale (1,584) USD 65,992 AUD 100,000 18/02/2026 Standard Chartered Bank (598) USD 119,714 AUD 180,000 18/03/2026 BNP Paribas (276) USD 166,601 AUD 250,000 18/03/2026 Standard Chartered Bank (102) USD 370,000 BRL 2,064,272 21/01/2026 Morgan Stanley (3,956) USD 210,000 CAD 295,377 21/01/2026 BNP Paribas (4,841) USD 50,000 CAD 69,920 21/01/2026 Deutsche Bank (899) USD 220,000 CAD 308,931 21/01/2026 Merrill Lynch (4,754) USD 790,000 CAD 1,109,821 21/01/2026 Morgan Stanley (17,369) USD 440,000 CAD 611,102 21/01/2026 Societe Generale (5,309) USD 5,060,000 CAD 6,990,516 18/02/2026 Societe Generale (43,180) (0.01) USD 160,000 CHF 127,061 21/01/2026 Deutsche Bank (634) USD 4,470,000 CHF 3,549,472 21/01/2026 Societe Generale (17,404) USD 530,000 CHF 421,443 21/01/2026 Standard Chartered Bank (2,697) USD 70,000 CHF 55,786 18/02/2026 BNP Paribas (669) USD 130,000 CHF 103,515 18/02/2026 Standard Chartered Bank (1,147) USD 5,460,000 CHF 4,313,710 18/03/2026 Societe Generale (25,505) (0.01) USD 220,000 CLP 206,923,420 21/01/2026 BNP Paribas (8,294) USD 3,610,000 CLP 3,371,297,065 21/01/2026 Goldman Sachs (113,303) (0.02) USD 510,000 CLP 483,221,600 21/01/2026 Morgan Stanley (22,565) USD 150,000 CLP 140,677,560 21/01/2026 Royal Bank of Canada (5,271) USD 120,000 CLP 110,416,201 18/02/2026 BNP Paribas (2,259) USD 1,000,000 CLP 916,349,300 18/02/2026 Deutsche Bank (15,251) USD 440,000 CLP 410,146,004 18/02/2026 Goldman Sachs (13,271) USD 360,000 CLP 337,185,600 18/02/2026 Merrill Lynch (12,379) USD 120,000 CLP 112,365,920 18/02/2026 Royal Bank of Canada (4,099) USD 20,000 COP 77,053,500 21/01/2026 BNP Paribas (141) USD 90,000 COP 343,964,700 21/01/2026 Merrill Lynch (19) USD 150,000 COP 575,588,600 21/01/2026 Morgan Stanley (547) USD 30,000 COP 117,309,000 18/03/2026 Royal Bank of Canada (221) USD 180,000 CZK 3,761,936 21/01/2026 Goldman Sachs (2,419) USD 950,000 CZK 20,024,629 21/01/2026 Merrill Lynch (19,792) USD 1,600,000 CZK 33,498,661 21/01/2026 Morgan Stanley (23,948) USD 120,000 CZK 2,509,019 21/01/2026 Societe Generale (1,656) USD 140,000 CZK 2,935,400 21/01/2026 Standard Chartered Bank (2,272) USD 220,000 CZK 4,610,867 18/02/2026 Goldman Sachs (3,570) USD 120,000 CZK 2,492,961 18/02/2026 Merrill Lynch (1,036) USD 3,090,000 CZK 64,189,647 18/02/2026 Morgan Stanley (26,507) (0.01) USD 3,430,000 CZK 70,926,178 18/03/2026 Goldman Sachs (17,150) USD 21,338,656 EUR 18,344,741 12/01/2026 BNY Mellon (185,984) (0.02) USD 87,300 EUR 75,594 16/01/2026 Citigroup (1,318) USD 20,500 EUR 17,597 16/01/2026 J.P. Morgan (155) USD 31,059,941 EUR 26,831,000 16/01/2026 Merrill Lynch (404,640) (0.06) USD 128,600 EUR 109,668 16/01/2026 Morgan Stanley (252) -

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - MULTI-STRATEGY TARGET RETURN FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

The accompanying notes form an integral part of these financial statements. avivainvestors.com | Annual report and audited financial statements 57

Page 58

Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets USD 134,443 EUR 116,685 16/01/2026 NatWest (2,299) USD 39,496,862 EUR 33,806,466 16/01/2026 Royal Bank of Canada (201,822) (0.03) USD 767,970 EUR 662,859 16/01/2026 Standard Chartered Bank (9,456) USD 21,335,037 EUR 18,281,820 20/01/2026 BNY Mellon (133,025) (0.02) USD 46,573 EUR 40,000 21/01/2026 BNP Paribas (384) USD 11,682 EUR 10,000 21/01/2026 Goldman Sachs (63) USD 221,947 EUR 190,000 21/01/2026 Merrill Lynch (1,208) USD 245,045 EUR 210,000 21/01/2026 Morgan Stanley (1,560) USD 104,595 EUR 90,000 21/01/2026 Nomura (1,030) USD 128,432 EUR 110,000 21/01/2026 Royal Bank of Canada (754) USD 105,079 EUR 90,000 21/01/2026 Societe Generale (618) USD 34,881 EUR 30,000 18/02/2026 Societe Generale (369) USD 723,428 EUR 620,000 18/02/2026 Standard Chartered Bank (5,452) USD 105,732 EUR 90,000 18/03/2026 Standard Chartered Bank (302) USD 13,126 GBP 10,000 21/01/2026 BNP Paribas (276) USD 144,827 GBP 110,000 21/01/2026 Merrill Lynch (2,658) USD 1,712,520 GBP 1,300,000 21/01/2026 Standard Chartered Bank (30,623) (0.01) USD 670,066 GBP 510,000 18/02/2026 Goldman Sachs (13,455) USD 302,767 GBP 230,000 18/02/2026 Merrill Lynch (5,575) USD 26,455 GBP 20,000 18/02/2026 Morgan Stanley (376) USD 275,697 GBP 210,000 18/02/2026 Royal Bank of Canada (5,721) USD 249,114 GBP 190,000 18/02/2026 Societe Generale (5,453) USD 800,697 GBP 610,000 18/02/2026 Standard Chartered Bank (16,734) USD 641,356 GBP 480,000 18/03/2026 Standard Chartered Bank (3,508) USD 500,000 HUF 168,424,394 21/01/2026 Goldman Sachs (12,293) USD 250,000 HUF 84,608,038 21/01/2026 Merrill Lynch (7,175) USD 360,000 IDR 6,012,960,000 21/01/2026 Deutsche Bank (43) USD 3,540,000 IDR 59,290,684,000 21/01/2026 Goldman Sachs (8,742) USD 3,360,000 IDR 56,181,968,000 21/01/2026 Morgan Stanley (3,513) USD 70,000 IDR 1,175,433,000 18/02/2026 Morgan Stanley (271) USD 60,000 IDR 1,006,168,200 18/02/2026 Royal Bank of Canada (164) USD 330,000 IDR 5,539,350,000 18/02/2026 Societe Generale (1,176) USD 180,000 IDR 3,031,900,200 17/03/2026 BNP Paribas (1,022) USD 350,000 IDR 5,871,492,000 17/03/2026 Goldman Sachs (777) USD 210,000 IDR 3,534,310,000 17/03/2026 Morgan Stanley (1,045) USD 400,000 IDR 6,702,541,000 17/03/2026 Standard Chartered Bank (495) USD 8,610,000 INR 782,072,130 18/02/2026 Standard Chartered Bank (45,897) (0.01) USD 2,400,000 KRW 3,503,786,088 21/01/2026 Goldman Sachs (25,377) (0.01) USD 2,480,000 KRW 3,652,935,840 19/02/2026 Morgan Stanley (47,893) (0.01) USD 800,000 MXN 14,907,349 21/01/2026 Goldman Sachs (23,347) USD 830,000 MXN 15,499,379 21/01/2026 Morgan Stanley (25,781) (0.01) USD 5,190,000 MXN 96,254,083 21/01/2026 Standard Chartered Bank (129,869) (0.02) USD 6,740,000 MXN 124,326,990 18/02/2026 Standard Chartered Bank (120,495) (0.02) USD 6,680,000 MXN 122,679,162 18/03/2026 Standard Chartered Bank (77,177) (0.01) USD 3,490,000 MYR 14,649,588 21/01/2026 Goldman Sachs (106,602) (0.02) USD 2,560,000 MYR 10,525,118 19/02/2026 Goldman Sachs (34,991) (0.01) USD 320,000 MYR 1,319,511 19/02/2026 Morgan Stanley (5,187) USD 2,450,000 MYR 9,982,008 18/03/2026 Goldman Sachs (16,362) USD 4,270,000 NOK 43,141,947 18/02/2026 Deutsche Bank (5,939) USD 50,000 NOK 510,304 18/03/2026 Merrill Lynch (490) USD 60,000 NOK 611,889 18/03/2026 Standard Chartered Bank (548) USD 108,207 NZD 190,000 21/01/2026 BNP Paribas (978) USD 85,170 NZD 150,000 21/01/2026 Deutsche Bank (991) USD 203,347 NZD 360,000 21/01/2026 Merrill Lynch (3,280) USD 5,690 NZD 10,000 18/02/2026 Citigroup (61) USD 39,322 NZD 70,000 18/02/2026 Goldman Sachs (857) USD 61,838 NZD 110,000 18/02/2026 Merrill Lynch (1,308) USD 28,163 NZD 50,000 18/02/2026 Royal Bank of Canada (548) -

Aviva Investors Société d’investissement à capital variable (SICAV)

Aviva Investors - MULTI-STRATEGY TARGET RETURN FUND (CONTINUED) Portfolio of Investments and Other Net Assets as at 31 December 2025

The accompanying notes form an integral part of these financial statements. avivainvestors.com | Annual report and audited financial statements 58

Page 59

Forward Currency Exchange Contracts (continued)

Currency Purchased Amount Purchased Currency Sold Amount Sold Maturity Date Counterparty

Unrealised Gain/ (Loss) EUR % of Net Assets

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        "text": "The Directors of...