半期報告書(内国投資信託受益証券)-第11期(2025/12/06-2026/12/07)

(3)【中間注記表】
(重要な会計方針に係る事項に関する注記)

項目		第11期中間計算期間自 2025年12月6日至 2026年6月5日
1.	有価証券の評価基準及び評価方法	投資信託受益証券移動平均法に基づき、原則として時価で評価しております。時価評価にあたっては、金融商品取引所等における最終相場(最終相場のないものについては、それに準ずる価額)、又は金融商品取引業者等から提示される気配相場に基づいて評価しております。
		投資証券移動平均法に基づき、原則として時価で評価しております。時価評価にあたっては、投資証券の基準価額に基づいて評価しております。
2.	収益及び費用の計上基準	受取配当金原則として、配当落ち日において、確定配当金額又は予想配当金額を計上しております。
3.	その他中間財務諸表作成のための重要な事項	外貨建取引等の処理基準外貨建資産及び負債は、計算日の対顧客電信売買相場の仲値により円貨に換算するほか、「投資信託財産の計算に関する規則」(平成12年総理府令第133号)第60条及び同第61条にしたがって換算しております。

(中間貸借対照表に関する注記)

項目			第10期2025年12月5日現在	第11期中間計算期間末2026年6月5日現在
1.		期首元本額	9,196,097,203円	10,328,194,630円
		期中追加設定元本額	2,661,547,197円	1,183,036,814円
		期中一部解約元本額	1,529,449,770円	629,036,775円
2.		受益権の総数	10,328,194,630口	10,882,194,669口

(中間損益及び剰余金計算書に関する注記)
該当事項はありません。
(金融商品に関する注記)
金融商品の時価等に関する事項

項目		第10期2025年12月5日現在	第11期中間計算期間末2026年6月5日現在
1.	中間貸借対照表計上額、時価及びその差額	貸借対照表上の金融商品は原則としてすべて時価で評価しているため、貸借対照表計上額と時価との差額はありません。	中間貸借対照表上の金融商品は原則としてすべて時価で評価しているため、中間貸借対照表計上額と時価との差額はありません。
2.	時価の算定方法	(1)有価証券「(重要な会計方針に係る事項に関する注記)」にて記載しております。(2)デリバティブ取引該当事項はありません。(3)上記以外の金融商品上記以外の金融商品(コール・ローン等の金銭債権及び金銭債務)は短期間で決済されるため、帳簿価額は時価と近似していることから、当該帳簿価額を時価としております。	同左
3.	金融商品の時価等に関する事項についての補足説明	金融商品の時価の算定においては一定の前提条件等を採用しているため、異なる前提条件等によった場合、当該価額が異なることもあります。	同左

(デリバティブ取引等に関する注記)
該当事項はありません。
(1口当たり情報に関する注記)

	第10期2025年12月5日現在	第11期中間計算期間末2026年6月5日現在
1口当たり純資産額	2.4603円	2.7205円
(1万口当たり純資産額)	(24,603円)	(27,205円)

(参考)
当ファンドは、「バンガード・ジャパンストック・インデックスファンド」投資証券、「バンガード・パシフィック(日本を除く)ストック・インデックスファンド」投資証券及び「バンガード・ユーロガバメントボンド・インデックスファンド」投資証券を主要投資対象としており、中間貸借対照表の資産の部に計上された「投資証券」は、すべて同投資証券であります。
同投資証券の状況は以下の通りであります。
なお、以下に記載した状況は監査の対象外となっております。
「バンガード・ジャパンストック・インデックスファンド」、「バンガード・パシフィック(日本を除く)ストック・インデックスファンド」及び「バンガード・ユーロガバメントボンド・インデックスファンド」は、同ファンドの国籍において一般に公正妥当と認められる会計原則に準拠した財務諸表が作成され、現地監査人による監査を受けております。
なお、以下は入手しうる直近の現地監査済み財務諸表の原文の一部を委託会社が和訳したものでありますが、あくまで参考和訳であり正確性を保証するものではありません。
バンガード・ジャパンストック・インデックスファンド
財務諸表
投資明細表
2025年12月31日現在

	株数	公正価値(単位:ユーロ)	純資産構成比
譲渡可能有価証券99.63%(2024年12月31日:99.05%)
株式99.63%(2024年12月31日:99.05%)
コミュニケーション・サービス7.61%(2024年12月31日:7.19%)
Capcom Co., Ltd.	376,200	7,461,092	0.18%
KDDI Corp.	3,183,270	46,835,384	1.12%
Konami Group Corp.	109,087	12,639,667	0.30%
LY Corp.	2,990,503	6,777,356	0.16%
Nexon Co., Ltd.	402,902	8,375,865	0.20%
Nintendo Co., Ltd.	1,198,710	68,990,113	1.64%
NTT, Inc.	32,445,750	27,794,654	0.66%
SoftBank Corp.	31,186,060	36,388,701	0.87%
SoftBank Group Corp.	4,150,088	99,193,165	2.36%
Toho Co., Ltd.	114,679	4,971,169	0.12%
		319,427,166	7.61%
一般消費財・サービス16.89%(2024年12月31日:18.70%)
Aisin Corp.	535,873	8,517,418	0.20%
Asics Corp.	757,700	15,455,355	0.37%
Bandai Namco Holdings, Inc.	635,286	14,397,443	0.34%
Bridgestone Corp.	1,240,118	23,672,086	0.57%
Denso Corp.	1,896,964	22,237,312	0.53%
Fast Retailing Co., Ltd.	207,382	64,144,628	1.53%
Honda Motor Co., Ltd.	4,014,041	33,492,286	0.80%
Isuzu Motors Ltd.	581,564	7,706,729	0.18%
Nissan Motor Co., Ltd.	2,407,488	5,101,664	0.12%
Nitori Holdings Co., Ltd.	435,090	6,481,828	0.16%
Oriental Land Co., Ltd.	1,173,160	18,471,507	0.44%
Pan Pacific International Holdings Corp.	2,070,600	10,486,333	0.25%
Panasonic Holdings Corp.	2,532,126	27,833,017	0.66%
Rakuten Group, Inc.	1,644,237	8,967,469	0.22%
Ryohin Keikaku Co., Ltd.	548,900	8,295,110	0.20%
Sanrio Co., Ltd.	192,800	5,149,665	0.12%
Sekisui House Ltd.	648,066	12,314,331	0.29%
Shimano, Inc.	80,949	7,270,888	0.17%
Sony Group Corp.	6,677,930	145,972,686	3.48%
Subaru Corp.	636,992	11,747,502	0.28%
Sumitomo Electric Industries Ltd.	775,972	26,661,117	0.64%
Suzuki Motor Corp.	1,706,888	21,645,652	0.52%
Toyota Motor Corp.	10,291,170	187,611,075	4.47%
Yamaha Motor Co., Ltd.	989,427	6,231,983	0.15%
Zensho Holdings Co., Ltd.	104,498	5,094,648	0.12%
ZOZO, Inc.	487,264	3,417,137	0.08%
		708,376,869	16.89%
生活必需品4.63%(2024年12月31日:5.19%)
Aeon Co., Ltd.	2,418,022	32,535,540	0.77%
Ajinomoto Co., Inc.	982,756	17,707,732	0.42%
Asahi Group Holdings Ltd.	1,651,200	14,705,604	0.35%
Japan Tobacco, Inc.	1,302,975	39,919,671	0.95%
Kao Corp.	505,818	17,203,220	0.41%
Kikkoman Corp.	736,825	5,691,618	0.14%
Kirin Holdings Co., Ltd.	843,125	10,753,797	0.26%
Kobe Bussan Co., Ltd.	164,700	3,390,819	0.08%
MatsukiyoCocokara & Co.	356,090	5,245,915	0.12%
Seven & i Holdings Co., Ltd.	2,262,512	27,659,331	0.66%
Shiseido Co., Ltd.	434,060	5,371,248	0.13%
Suntory Beverage & Food Ltd.	152,353	3,912,086	0.09%
Tsuruha Holdings, Inc.	286,200	4,474,373	0.11%
	株数	公正価値 (単位:ユーロ)	純資産 構成比
Unicharm Corp.	1,213,618	5,900,337	0.14%
		194,471,291	4.63%

エネルギー 0.94%(2024年12月31日:0.83%)
ENEOS Holdings, Inc.	2,938,380	17,669,626	0.42%
Idemitsu Kosan Co., Ltd.	846,625	5,440,610	0.13%
Inpex Corp.	956,831	16,253,050	0.39%
		39,363,286	0.94%
金融16.96%(2024年12月31日:15.57%))
Chiba Bank Ltd.	612,436	5,815,324	0.14%
Dai-ichi Life Holdings, Inc.	3,817,632	27,031,918	0.64%
Daiwa Securities Group, Inc.	1,448,648	10,784,839	0.26%
Japan Exchange Group, Inc.	1,077,804	9,812,633	0.23%
Japan Post Bank Co., Ltd.	1,941,404	23,296,110	0.55%
Japan Post Holdings Co., Ltd.	1,936,855	17,365,384	0.41%
Japan Post Insurance Co., Ltd.	201,877	5,167,303	0.12%
Mitsubishi HC Capital, Inc.	955,176	6,802,333	0.16%
Mitsubishi UFJ Financial Group, Inc.	12,448,937	168,587,866	4.02%
Mizuho Financial Group, Inc.	2,703,748	83,716,841	2.00%
MS&AD Insurance Group Holdings, Inc.	1,397,174	27,952,714	0.67%
Nomura Holdings, Inc.	3,263,663	23,065,048	0.55%
ORIX Corp.	1,262,896	31,241,536	0.74%
Resona Holdings, Inc.	2,254,873	18,287,471	0.44%
SBI Holdings, Inc.	609,796	11,179,699	0.27%
Sompo Holdings, Inc.	963,717	27,934,256	0.67%
Sony Financial Group, Inc.	6,593,930	5,945,990	0.14%
Sumitomo Mitsui Financial Group, Inc.	3,979,289	108,966,737	2.60%
Sumitomo Mitsui Trust Group, Inc.	689,372	17,888,777	0.43%
T&D Holdings, Inc.	502,169	9,861,205	0.23%
Tokio Marine Holdings, Inc.	1,995,093	63,042,580	1.50%
Yokohama Financial Group, Inc.	1,118,700	7,860,530	0.19%
		711,607,094	16.96%
ヘルスケア6.47%(2024年12月31日:7.65%)
Astellas Pharma, Inc.	1,964,967	22,340,673	0.53%
Chugai Pharmaceutical Co., Ltd.	729,273	32,654,813	0.78%
Daiichi Sankyo Co., Ltd.	1,954,248	35,541,593	0.85%
Eisai Co., Ltd.	285,065	7,216,084	0.17%
Hoya Corp.	372,636	47,943,525	1.14%
Kyowa Kirin Co., Ltd.	256,980	3,527,576	0.09%
M3, Inc.	479,420	5,505,451	0.13%
Olympus Corp.	1,237,036	13,335,374	0.32%
Otsuka Holdings Co., Ltd.	471,719	22,736,605	0.54%
Shionogi & Co., Ltd.	820,960	12,669,661	0.30%
Sysmex Corp.	546,059	4,575,478	0.11%
Takeda Pharmaceutical Co., Ltd.	1,727,471	45,371,069	1.08%
Terumo Corp.	1,446,956	17,842,387	0.43%
		271,260,289	6.47%
資本財・サービス25.34%(2024年12月31日:23.16%)
AGC, Inc.	212,513	5,994,812	0.14%
ANA Holdings, Inc.	173,212	2,802,982	0.07%
Central Japan Railway Co.	838,875	19,763,253	0.47%
Dai Nippon Printing Co., Ltd.	427,142	6,250,887	0.15%
Daifuku Co., Ltd.	350,600	9,385,434	0.22%
Daikin Industries Ltd.	286,421	31,242,108	0.74%
East Japan Railway Co.	1,047,196	23,504,989	0.56%
Ebara Corp.	501,900	10,044,044	0.24%
FANUC Corp.	1,013,545	33,496,853	0.80%

	株数	公正価値 (単位:ユーロ)	純資産 構成比
Fuji Electric Co., Ltd.	154,058	9,916,864	0.24%
Fujikura Ltd.	273,100	25,872,592	0.62%
Hankyu Hanshin Holdings, Inc.	261,141	5,593,371	0.13%
Hikari Tsushin, Inc.	19,288	4,583,920	0.11%
Hitachi Ltd.	4,975,070	132,478,154	3.16%
IHI Corp.	1,117,000	16,713,512	0.40%
ITOCHU Corp.	6,453,950	69,241,180	1.65%
Japan Airlines Co., Ltd.	158,241	2,497,106	0.06%
Kajima Corp.	459,212	14,555,457	0.35%
Kawasaki Heavy Industries Ltd.	164,100	9,252,896	0.22%
Kawasaki Kisen Kaisha Ltd.	379,800	4,499,688	0.11%
Komatsu Ltd.	1,032,717	28,049,369	0.67%
Kubota Corp.	1,062,500	12,792,883	0.30%
Makita Corp.	243,285	6,260,233	0.15%
Marubeni Corp.	1,532,787	36,244,511	0.86%
MINEBEA MITSUMI, Inc.	393,274	6,710,192	0.16%
Mitsubishi Corp.	3,500,028	68,179,462	1.63%
Mitsubishi Electric Corp.	2,065,229	51,437,437	1.23%
Mitsubishi Heavy Industries Ltd.	3,480,270	72,596,541	1.73%
Mitsui & Co., Ltd.	2,682,018	67,644,445	1.61%
Mitsui OSK Lines Ltd.	374,500	9,581,743	0.23%
MonotaRO Co., Ltd.	273,200	3,710,901	0.09%
Nidec Corp.	906,536	10,498,905	0.25%
Nippon Yusen KK	447,889	12,354,776	0.29%
Obayashi Corp.	690,826	12,267,480	0.29%
Recruit Holdings Co., Ltd.	1,528,436	73,453,933	1.75%
Secom Co., Ltd.	430,668	13,037,773	0.31%
Seibu Holdings, Inc.	228,300	5,337,648	0.13%
Sekisui Chemical Co., Ltd.	403,597	5,776,973	0.14%
SG Holdings Co., Ltd.	314,800	2,451,344	0.06%
SMC Corp.	62,383	18,455,068	0.44%
Sumitomo Corp.	1,183,940	34,806,411	0.83%
Taisei Corp.	159,132	12,823,803	0.31%
Tokyo Metro Co., Ltd.	310,600	2,690,282	0.06%
Tokyu Corp.	542,046	5,388,390	0.13%
TOPPAN Holdings, Inc.	255,220	6,461,979	0.15%
Toyota Industries Corp.	176,883	17,103,219	0.41%
Toyota Tsusho Corp.	749,736	21,479,307	0.51%
West Japan Railway Co.	445,530	7,565,501	0.18%
		1,062,850,611	25.34%
情報技術13.96%(2024年12月31日:13.68%)
Advantest Corp.	831,900	88,730,677	2.12%
Canon, Inc.	941,547	23,696,056	0.57%
Disco Corp.	100,137	26,202,516	0.62%
FUJIFILM Holdings Corp.	1,215,745	22,084,142	0.53%
Fujitsu Ltd.	1,911,790	44,957,229	1.07%
Keyence Corp.	211,266	65,047,591	1.55%
Kioxia Holdings Corp.	205,100	11,625,988	0.28%
Kyocera Corp.	1,394,304	16,636,442	0.40%
Lasertec Corp.	87,000	14,010,140	0.33%
Murata Manufacturing Co., Ltd.	1,811,986	31,950,313	0.76%
NEC Corp.	1,407,385	40,595,623	0.97%
Nomura Research Institute Ltd.	410,349	13,421,275	0.32%

		株数	公正価値(単位:ユーロ)	純資産構成比
Obic Co., Ltd.		351,635	9,401,680	0.22%
Oracle Corp. Japan		41,677	2,986,160	0.07%
Otsuka Corp.		245,880	4,316,844	0.10%
Renesas Electronics Corp.		1,929,878	22,434,448	0.54%
SCREEN Holdings Co., Ltd.		87,900	7,276,887	0.17%
Shimadzu Corp.		257,195	5,823,204	0.14%
TDK Corp.		2,110,940	25,353,411	0.60%
TIS, Inc.		231,000	6,596,624	0.16%
Tokyo Electron Ltd.		486,508	90,700,364	2.16%
Trend Micro, Inc.		137,735	4,864,778	0.12%
Yokogawa Electric Corp.		247,992	6,757,203	0.16%
			585,469,595	13.96%
素材3.35%(2024年12月31日:3.77%)
Asahi Kasei Corp.		1,408,887	10,630,414	0.25%
JFE Holdings, Inc.		625,124	6,783,046	0.16%
JX Advanced Metals Corp.		605,000	6,441,444	0.15%
Mitsubishi Chemical Group Corp.		1,390,475	6,911,996	0.17%
Nippon Paint Holdings Co., Ltd.		1,029,723	5,859,306	0.14%
Nippon Sanso Holdings Corp.		188,154	4,771,073	0.11%
Nippon Steel Corp.		5,251,875	18,309,895	0.44%
Nitto Denko Corp.		736,945	14,871,873	0.35%
Shin-Etsu Chemical Co., Ltd.		1,832,145	48,498,468	1.16%
Sumitomo Metal Mining Co., Ltd.		268,003	9,254,728	0.22%
Toray Industries, Inc.		1,505,944	8,344,124	0.20%
			140,676,367	3.35%
不動産2.37%(2024年12月31日:2.27%)
Daito Trust Construction Co., Ltd.		317,800	5,154,843	0.12%
Daiwa House Industry Co., Ltd.		608,550	17,183,210	0.41%
Hulic Co., Ltd.		505,394	4,706,947	0.11%
Mitsubishi Estate Co., Ltd.		1,154,349	23,959,952	0.57%
Mitsui Fudosan Co., Ltd.		2,869,798	27,756,524	0.66%
Nippon Building Fund, Inc. REIT		8,450	6,559,348	0.16%
Sumitomo Realty & Development Co., Ltd.		660,624	14,110,410	0.34%
			99,431,234	2.37%
公益事業1.11%(2024年12月31日:1.04%)
Chubu Electric Power Co., Inc.		740,640	9,704,122	0.23%
Kansai Electric Power Co., Inc.		1,029,033	13,723,111	0.33%
Osaka Gas Co., Ltd.		388,770	11,467,383	0.27%
Tokyo Gas Co., Ltd.		342,443	11,542,552	0.28%
	46,437,168			1.11%
株式合計	4,179,370,970			99.63%
譲渡可能有価証券合計	4,179,370,970			99.63%

	契約数	想定元本	未実現利益(損失)(単位:ユーロ)	純資産構成比
規制対象市場で取引されるデリバティブ金融商品0.00%(2024年12月31日:0.01%)
先物 0.00%(2024年12月31日:0.01%)
S&P 500 E-mini March 2026	(10)	$(3,464,450)	15,497	0.00%
TOPIX Index March 2026	97	¥3,310,219,470	4,756	0.00%
			20,253	0.00%
規制対象市場で取引されるデリバティブ金融商品合計			20,253	0.00%

通貨	買金額	通貨	(売) 金額	契約先	決済日	未実現利益(損失)(単位:ユーロ)	純資産構成比
店頭取引デリバティブ金融商品(0.00%)(2024年12月31日:(0.01%))
先渡為替契約(0.00%)(2024年12月31日:(0.01%))
USD	8,544,121	JPY	(1,318,785,000)	State Street Bank & Trust Co.	18/3/2026	66,201	0.00%
USD	8,261,934	JPY	(1,276,040,000)	State Street Bank & Trust Co.	18/3/2026	59,599	0.01%
USD	8,261,688	JPY	(1,276,040,000)	HSBC Bank	18/3/2026	59,390	0.00%
USD	6,067,623	JPY	(935,495,770)	State Street Bank & Trust Co.	18/3/2026	52,688	0.00%
USD	3,172,031	JPY	(488,056,807)	Toronto-Dominion Bank	18/3/2026	33,001	0.00%
USD	5,667,592	JPY	(878,328,337)	JPMorgan Chase Bank	18/3/2026	24,654	0.00%
JPY	1,328,395,782	USD	(8,500,025)	State Street Bank & Trust Co.	18/3/2026	23,573	0.00%
USD	1,341,968	JPY	(206,040,000)	Toronto-Dominion Bank	18/3/2026	16,351	0.00%
GBP	2,051,200	USD	(2,758,938)	State Street Bank & Trust Co.	15/1/2026	1	0.00%
USD	998,258	JPY	(155,534,671)	State Street Bank & Trust Co.	18/3/2026	(183)	(0.00%)
USD	3,781,401	JPY	(589,165,329)	State Street Bank & Trust Co.	18/3/2026	(696)	(0.00%)
JPY	852,250,000	USD	(5,489,533)	State Street Bank & Trust Co.	18/3/2026	(15,620)	(0.00%)
JPY	774,525,000	USD	(5,010,503)	HSBC Bank	18/3/2026	(32,536)	(0.00%)
JPY	1,198,225,000	USD	(7,731,791)	JPMorgan Chase Bank	18/3/2026	(33,633)	(0.00%)
JPY	944,720,000	USD	(6,127,451)	State Street Bank & Trust Co.	18/3/2026	(53,207)	(0.00%)
JPY	3,438,555,645	USD	(22,375,882)	HSBC Bank	18/3/2026	(255,967)	(0.01%)
						(56,384)	(0.00%)
店頭取引デリバティブ金融商品合計						(56,384)	(0.00%)
投資合計						4,179,334,839	99.63%

		公正価値(単位:ユーロ)	純資産構成比
その他資産および負債		15,472,181	0.37%
純資産		4,194,807,020	100.00%

貸借対照表

	単位:ユーロ 2025年12月31日現在
流動資産
純損益を通じて公正価値で評価する金融資産:
譲渡可能有価証券	4,179,370,970
デリバティブ金融商品	355,711
現金	12,354,808
直物為替契約にかかる未実現利益	1,695
未収金:
利息および配当金	4,427,514
資本証券発行未収金	2,792,597
ブローカーへの預け証拠金	840,025
差入現金担保	280,982
流動資産合計	4,200,424,302
流動負債
純損益を通じて公正価値で評価する金融負債:
デリバティブ金融商品	391,842
当座借越	—
未払金およびその他負債:
未払収益分配金	2,439,629
資本証券償還未払金	2,209,294
未払管理報酬	576,517
流動負債合計	5,617,282
償還可能参加資本証券保有者に帰属する純資産(「純資産」)	4,194,807,020

バンガード・パシフィック(日本を除く)ストック・インデックスファンド
財務諸表
投資明細表
2025年12月31日現在

	株数	公正価値(単位:ユーロ)	純資産構成比
譲渡可能有価証券98.96%(2024年12月31日:98.63%)
株式98.96%(2024年12月31日:98.63%)
オーストラリア61.59%(2024年12月31日:64.68%)
ANZ Group Holdings Ltd.	4,990,920	102,981,478	3.41%
APA Group	2,200,270	11,206,294	0.37%
Aristocrat Leisure Ltd.	928,724	30,679,902	1.02%
ASX Ltd.	325,034	9,493,434	0.31%
BHP Group Ltd.	8,496,234	219,450,205	7.27%
Brambles Ltd.	2,279,138	29,712,288	0.98%
CAR Group Ltd.	633,101	11,057,397	0.37%
Cochlear Ltd.	109,401	16,191,582	0.54%
Coles Group Ltd.	2,245,202	27,332,150	0.91%
Commonwealth Bank of Australia	2,799,441	255,228,586	8.45%
Computershare Ltd.	870,787	16,879,868	0.56%
CSL Ltd.	811,586	79,559,990	2.64%
Evolution Mining Ltd.	3,396,812	24,455,940	0.81%
Fortescue Ltd.	2,832,857	35,402,855	1.17%
Goodman Group REIT	3,420,698	60,171,347	1.99%
Insurance Australia Group Ltd.	3,956,762	17,928,188	0.59%
Lottery Corp., Ltd.	3,722,965	10,907,676	0.36%
Lynas Rare Earths Ltd.	1,515,402	10,703,895	0.35%
Macquarie Group Ltd.	605,709	69,884,573	2.32%
Medibank Pvt Ltd.	4,607,015	12,529,932	0.42%
National Australia Bank Ltd.	5,123,964	123,095,644	4.08%
Northern Star Resources Ltd.	2,273,752	34,509,260	1.14%
Origin Energy Ltd.	2,882,171	18,803,269	0.62%
Pro Medicus Ltd.	96,159	12,059,249	0.40%
Qantas Airways Ltd.	1,240,209	7,309,469	0.24%
QBE Insurance Group Ltd.	2,526,324	28,531,028	0.95%
REA Group Ltd.	88,409	9,205,889	0.31%
Rio Tinto Ltd.	620,987	51,767,992	1.71%
Santos Ltd.	5,432,754	19,032,629	0.63%
Scentre Group REIT	8,726,627	20,810,825	0.69%
SGH Ltd.	340,416	8,978,200	0.30%
Sigma Healthcare Ltd.	8,689,997	14,506,430	0.48%
Sonic Healthcare Ltd.	785,435	10,083,340	0.33%
South32 Ltd.	7,527,232	15,215,243	0.50%
Stockland REIT	4,052,516	13,184,782	0.44%
Suncorp Group Ltd.	1,811,473	18,153,909	0.60%
Telstra Group Ltd.	6,645,894	18,377,057	0.61%
Transurban Group	5,209,548	42,032,741	1.39%
Vicinity Ltd. REIT	6,540,794	9,507,449	0.32%
Washington H Soul Pattinson & Co., Ltd.	572,018	12,062,718	0.40%
Wesfarmers Ltd.	1,898,306	87,403,155	2.90%
Westpac Banking Corp.	5,721,707	125,402,590	4.15%
WiseTech Global Ltd.	337,282	13,110,633	0.43%
Woodside Energy Group Ltd.	3,180,169	42,596,286	1.41%
Woolworths Group Ltd.	2,043,554	34,090,353	1.13%
Xero Ltd.	276,774	17,918,428	0.59%
1,859,506,148			61.59%

	株数	公正価値(単位:ユーロ)	純資産構成比
香港19.27%(2024年12月31日:17.42%)
AIA Group Ltd.	17,572,332	153,591,335	5.09%
BOC Hong Kong Holdings Ltd.	6,190,216	26,693,957	0.88%
CK Asset Holdings Ltd.	3,220,173	13,851,068	0.46%
CK Hutchison Holdings Ltd.	4,484,664	25,976,845	0.86%
CK Infrastructure Holdings Ltd.	1,054,080	6,641,812	0.22%
CLP Holdings Ltd.	2,747,670	20,920,128	0.69%
Futu Holdings Ltd. ADR	95,137	13,301,926	0.44%
Galaxy Entertainment Group Ltd.	3,293,495	13,806,165	0.46%
Hang Seng Bank Ltd.	1,255,126	21,075,905	0.70%
Henderson Land Development Co., Ltd.	2,429,789	7,479,683	0.25%
HKT Trust & HKT Ltd.	6,340,389	7,983,287	0.26%
Hong Kong & China Gas Co., Ltd.	18,730,910	14,363,737	0.47%
Hong Kong Exchanges & Clearing Ltd.	2,014,870	89,840,414	2.98%
Hongkong Land Holdings Ltd.	1,816,200	10,747,661	0.36%
Jardine Matheson Holdings Ltd.	271,500	15,809,856	0.52%
Link REIT	4,357,404	16,559,537	0.55%
MTR Corp., Ltd.	2,602,459	8,483,805	0.28%
Power Assets Holdings Ltd.	2,317,526	13,981,722	0.46%
Sands China Ltd.	4,061,624	8,708,559	0.29%
Sino Land Co., Ltd.	6,123,030	6,845,542	0.23%
SITC International Holdings Co., Ltd.	2,258,000	6,881,698	0.23%
Sun Hung Kai Properties Ltd.	2,424,063	25,112,180	0.83%
Swire Pacific Ltd. Class A	589,654	4,044,411	0.13%
Techtronic Industries Co., Ltd.	2,450,000	24,094,411	0.80%
WH Group Ltd.	13,950,935	13,231,618	0.44%
Wharf Holdings Ltd.	1,780,000	4,233,213	0.14%
Wharf Real Estate Investment Co., Ltd.	2,793,403	7,511,143	0.25%
		581,771,618	19.27%
ニュージーランド1.68%(2024年12月31日:1.85%)
Auckland International Airport Ltd.	2,835,027	11,563,071	0.39%
Contact Energy Ltd.	1,413,244	6,400,735	0.21%
Fisher & Paykel Healthcare Corp., Ltd.	982,359	18,157,588	0.60%
Infratil Ltd.	1,556,775	8,445,718	0.28%
Meridian Energy Ltd.	2,207,023	6,051,539	0.20%
		50,618,651	1.68%
シンガポール16.42%(2024年12月31日:14.68%)
CapitaLand Ascendas REIT	6,555,264	12,282,905	0.41%
CapitaLand Integrated Commercial Trust REIT	10,184,156	16,115,635	0.53%
CapitaLand Investment Ltd.	3,919,343	7,032,456	0.23%
DBS Group Holdings Ltd.	3,560,307	132,856,534	4.40%
Grab Holdings Ltd. Class A	3,967,801	16,858,382	0.56%
Keppel Ltd.	2,436,635	16,697,649	0.55%
Oversea-Chinese Banking Corp., Ltd.	5,664,751	74,112,634	2.46%
Sea Ltd. ADR	639,945	69,511,502	2.30%
Sembcorp Industries Ltd.	1,486,900	5,926,561	0.20%
Singapore Airlines Ltd.	2,619,028	11,097,997	0.37%
Singapore Exchange Ltd.	1,434,282	16,105,896	0.53%
Singapore Technologies Engineering Ltd.	2,611,955	14,561,371	0.48%
Singapore Telecommunications Ltd.	12,432,535	37,453,773	1.24%
United Overseas Bank Ltd.	2,096,785	48,673,245	1.61%
Wilmar International Ltd.	3,214,285	6,554,802	0.22%
Yangzijiang Shipbuilding Holdings Ltd.	4,321,300	9,956,763	0.33%
		495,798,105	16.42%
株式合計		2,987,694,522	98.96%
譲渡可能有価証券合計		2,987,694,522	98.96%

	契約数	想定元本	未実現利益(損失)(単位:ユーロ)	純資産構成比
規制対象市場で取引されるデリバティブ金融商品0.02%(2024年12月31日:(0.04%))
先物0.02%(2024年12月31日:(0.04%))
MSCI Pacific Ex-Japan Index March 2026	436	$41,635,673	662,784	0.02%
S&P 500 E-mini March 2026	(12)	$(4,162,225)	22,756	0.00%
			685,540	0.02%
規制対象市場で取引されるデリバティブ金融商品合計			685,540	0.02%

通貨	買金額	通貨	(売) 金額	契約先	決済日	未実現利益(損失)(単位:ユーロ)	純資産構成比
店頭取引デリバティブ金融商品(0.00%)(2024年12月31日:0.01%)
先渡為替契約(0.00%)(2024年12月31日:0.01%)
AUD	12,748,143	USD	(8,487,650)	State Street Bank & Trust Co.	18/3/2026	11,991	0.00%
GBP	2,471,253	USD	(3,323,925)	State Street Bank & Trust Co.	15/1/2026	1	0.00%
USD	2,390,369	SGD	(3,075,052)	Morgan Stanley	18/3/2026	(10,239)	(0.00%)
USD	10,378,793	AUD	(15,651,219)	Bank of New York Mellon	18/3/2026	(50,116)	(0.00%)
						(48,363)	(0.00%)
店頭取引デリバティブ金融商品合計						(48,363)	(0.00%)
投資合計						2,988,331,699	98.98%

	公正価値(単位:ユーロ)	純資産構成比
その他資産および負債	30,631,790	1.02%
純資産	3,018,963,489	100.00%

貸借対照表

	単位:ユーロ 2025年12月31日現在
流動資産
純損益を通じて公正価値で評価する金融資産:
譲渡可能有価証券	2,987,694,522
デリバティブ金融商品	697,532
現金	32,532,844
直物為替契約にかかる未実現利益	—
未収金:
利息および配当金	1,634,907
資本証券発行未収金	1,757,721
売却投資有価証券未収金	—
ブローカーへの預け証拠金	914,898
流動資産合計	3,025,232,424
流動負債
純損益を通じて公正価値で評価する金融負債:
デリバティブ金融商品	60,355
直物為替契約にかかる未実現損失	164
未払金およびその他負債:
投資有価証券購入未払金	23
未払収益分配金	3,450,683
資本証券償還未払金	2,366,218
未払管理報酬	391,492
流動負債合計	6,268,935
償還可能参加資本証券保有者に帰属する純資産(「純資産」)	3,018,963,489

バンガード・ユーロガバメントボンド・インデックスファンド
財務諸表
投資明細表
2025年12月31日現在

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
譲渡可能有価証券98.86%(2024年12月31日:98.83%)
固定利付証券98.86%(2024年12月31日:98.83%)
オーストリア3.14%(2024年12月31日:3.19%)
Autobahnen- und Schnell- strassen-Finanzierungs AG	500,000	0.00%	16/7/2027	483,198	0.01%
Autobahnen- und Schnell- strassen-Finanzierungs AG	975,000	2.13%	13/9/2028	967,260	0.01%
Autobahnen- und Schnell- strassen-Finanzierungs AG	305,000	0.10%	9/7/2029	279,933	0.00%
Autobahnen- und Schnell- strassen-Finanzierungs AG	2,400,000	2.75%	20/6/2033	2,346,142	0.03%
Autobahnen- und Schnell- strassen-Finanzierungs AG	4,200,000	2.75%	2/10/2034	4,061,785	0.05%
Autobahnen- und Schnell- strassen-Finanzierungs AG	800,000	0.10%	16/7/2035	594,826	0.01%
HYPO NOE Landesbank fuer Niederoesterreich und Wien AG	400,000	4.00%	1/2/2027	406,096	0.00%
OeBB-Infrastruktur AG	950,000	3.38%	18/5/2032	968,531	0.01%
OeBB-Infrastruktur AG	400,000	3.00%	24/10/2033	396,596	0.00%
Republic of Austria Government Bond	23,900,000	0.50%	20/4/2027	23,441,446	0.30%
Republic of Austria Government Bond	16,617,000	0.00%	20/10/2028	15,606,252	0.20%
Republic of Austria Government Bond	14,705,000	0.50%	20/2/2029	13,894,982	0.18%
Republic of Austria Government Bond	17,107,000	2.90%	23/5/2029	17,410,375	0.22%
Republic of Austria Government Bond	9,426,000	2.50%	20/10/2029	9,441,831	0.12%
Republic of Austria Government Bond	4,902,000	0.00%	20/2/2030	4,426,059	0.06%
Republic of Austria Government Bond	9,560,000	3.45%	20/10/2030	9,925,200	0.13%
Republic of Austria Government Bond	13,547,000	0.00%	20/2/2031	11,845,339	0.15%
Republic of Austria Government Bond	14,121,000	0.90%	20/2/2032	12,643,223	0.16%
Republic of Austria Government Bond	15,748,000	2.90%	20/2/2033	15,776,429	0.20%
Republic of Austria Government Bond	30,900,000	2.90%	20/2/2034	30,684,811	0.39%
Republic of Austria Government Bond	6,000,000	2.95%	20/2/2035	5,927,420	0.07%
Republic of Austria Government Bond	11,366,000	0.25%	20/10/2036	8,296,151	0.10%
Republic of Austria Government Bond	7,590,000	4.15%	15/3/2037	8,220,979	0.10%
Republic of Austria Government Bond	5,666,000	3.20%	15/7/2039	5,530,638	0.07%
Republic of Austria Government Bond	6,580,000	0.00%	20/10/2040	3,935,610	0.05%
Republic of Austria Government Bond	10,600,000	3.15%	20/6/2044	9,924,656	0.13%
Republic of Austria Government Bond	10,318,000	1.50%	20/2/2047	6,996,686	0.09%
Republic of Austria Government Bond	8,002,000	1.85%	23/5/2049	5,674,192	0.07%
Republic of Austria Government Bond	9,369,000	0.75%	20/3/2051	4,807,991	0.06%
Republic of Austria Government Bond	5,400,000	3.15%	20/10/2053	4,781,214	0.06%
Republic of Austria Government Bond	14,231,000	0.70%	20/4/2071	4,897,517	0.06%
Republic of Austria Government Bond	5,890,000	2.10%	20/9/2117	3,390,825	0.04%
State of Lower Austria	1,300,000	0.00%	16/11/2035	929,397	0.01%
Verbund AG	300,000	0.90%	1/4/2041	195,817	0.00%
				249,109,407	3.14%
ベルギー4.79%(2024年12月31日:4.86%)
Belfius Bank SA	600,000	3.88%	12/6/2028	616,487	0.01%
Belfius Bank SA	600,000	4.13%	12/9/2029	624,877	0.01%
Belfius Bank SA	600,000	3.63%	11/6/2030	613,695	0.01%
Belfius Bank SA	400,000	5.25%	19/4/2033	417,923	0.01%
Belfius Bank SA	2,200,000	1.25%	6/4/2034	2,065,923	0.03%
Belfius Bank SA	1,000,000	4.88%	11/6/2035	1,049,565	0.01%
Communaute Francaise de Belgique	1,300,000	3.38%	22/6/2034	1,285,278	0.02%
Communaute Francaise de Belgique	2,100,000	3.80%	22/6/2040	2,022,518	0.03%
FLUVIUS System Operator CV	400,000	0.25%	14/6/2028	377,078	0.01%
FLUVIUS System Operator CV	3,900,000	0.25%	2/12/2030	3,398,348	0.04%
FLUVIUS System Operator CV	600,000	0.63%	24/11/2031	514,885	0.01%
FLUVIUS System Operator CV	500,000	4.00%	6/7/2032	513,490	0.01%
FLUVIUS System Operator CV	400,000	3.88%	9/5/2033	406,864	0.01%
FLUVIUS System Operator CV	1,700,000	3.88%	2/5/2034	1,720,759	0.02%
Kingdom of Belgium Government Bond	17,813,000	0.80%	22/6/2027	17,484,763	0.22%
Kingdom of Belgium Government Bond	6,481,000	0.00%	22/10/2027	6,236,075	0.08%
Kingdom of Belgium Government Bond	24,190,000	0.80%	22/6/2028	23,335,255	0.29%
Kingdom of Belgium Government Bond	11,848,000	0.90%	22/6/2029	11,240,595	0.14%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Kingdom of Belgium Government Bond	17,669,000	2.70%	22/10/2029	17,776,328	0.22%
Kingdom of Belgium Government Bond	6,045,000	0.10%	22/6/2030	5,407,428	0.07%
Kingdom of Belgium Government Bond	8,000,000	2.60%	22/10/2030	7,962,272	0.10%
Kingdom of Belgium Government Bond	13,473,000	1.00%	22/6/2031	12,258,558	0.15%
Kingdom of Belgium Government Bond	25,326,867	0.00%	22/10/2031	21,545,546	0.27%
Kingdom of Belgium Government Bond	2,500,000	4.00%	28/3/2032	2,659,443	0.03%
Kingdom of Belgium Government Bond	25,571,690	0.35%	22/6/2032	21,722,787	0.27%
Kingdom of Belgium Government Bond	9,240,000	1.25%	22/4/2033	8,191,509	0.10%
Kingdom of Belgium Government Bond	11,435,809	3.00%	22/6/2033	11,383,693	0.14%
Kingdom of Belgium Government Bond	20,196,346	2.85%	22/10/2034	19,590,499	0.25%
Kingdom of Belgium Government Bond	10,742,582	5.00%	28/3/2035	12,179,718	0.15%
Kingdom of Belgium Government Bond	20,217,000	3.10%	22/6/2035	19,811,696	0.25%
Kingdom of Belgium Government Bond	4,100,000	1.45%	22/6/2037	3,297,539	0.04%
Kingdom of Belgium Government Bond	9,908,805	1.90%	22/6/2038	8,193,760	0.10%
Kingdom of Belgium Government Bond	14,789,984	0.40%	22/6/2040	9,229,619	0.12%
Kingdom of Belgium Government Bond	9,762,000	4.25%	28/3/2041	10,233,600	0.13%
Kingdom of Belgium Government Bond	10,000,000	3.45%	22/6/2042	9,421,019	0.12%
Kingdom of Belgium Government Bond	12,280,000	3.45%	22/6/2043	11,499,549	0.15%
Kingdom of Belgium Government Bond	8,330,000	3.75%	22/6/2045	8,038,492	0.10%
Kingdom of Belgium Government Bond	9,075,000	1.60%	22/6/2047	5,855,348	0.07%
Kingdom of Belgium Government Bond	8,196,000	1.70%	22/6/2050	5,111,374	0.06%
Kingdom of Belgium Government Bond	9,300,000	1.40%	22/6/2053	5,023,162	0.06%
Kingdom of Belgium Government Bond	8,970,000	3.30%	22/6/2054	7,530,723	0.10%
Kingdom of Belgium Government Bond	5,736,461	3.50%	22/6/2055	4,962,010	0.06%
Kingdom of Belgium Government Bond	11,440,129	2.25%	22/6/2057	7,362,617	0.09%
Kingdom of Belgium Government Bond	6,264,000	2.15%	22/6/2066	3,645,485	0.05%
Kingdom of Belgium Government Bond	6,250,000	0.65%	22/6/2071	1,816,071	0.02%
Ministeries Van de Vlaamse Gemeenschap	5,900,000	0.01%	23/6/2027	5,709,497	0.07%
Ministeries Van de Vlaamse Gemeenschap	1,500,000	0.38%	15/4/2030	1,355,039	0.02%
Ministeries Van de Vlaamse Gemeenschap	700,000	0.30%	20/10/2031	599,306	0.01%
Ministeries Van de Vlaamse Gemeenschap	1,000,000	3.25%	5/4/2033	1,001,453	0.01%
Ministeries Van de Vlaamse Gemeenschap	8,200,000	3.13%	22/6/2034	8,058,622	0.10%
Ministeries Van de Vlaamse Gemeenschap	1,600,000	3.25%	22/6/2037	1,532,869	0.02%
Ministeries Van de Vlaamse Gemeenschap	4,000,000	3.68%	22/6/2040	3,866,018	0.05%
Ministeries Van de Vlaamse Gemeenschap	2,500,000	4.00%	26/9/2042	2,478,507	0.03%
Ministeries Van de Vlaamse Gemeenschap	700,000	3.25%	12/1/2043	628,503	0.01%
Ministeries Van de Vlaamse Gemeenschap	1,900,000	3.50%	22/6/2045	1,733,931	0.02%
Ministeries Van de Vlaamse Gemeenschap	1,200,000	1.00%	23/1/2051	597,914	0.01%
Proximus SADP	600,000	4.00%	8/3/2030	620,209	0.01%
Proximus SADP	1,000,000	4.13%	17/11/2033	1,030,783	0.01%
Proximus SADP	1,500,000	3.75%	27/3/2034	1,500,561	0.02%
Region de Bruxelles-Capitale	750,000	3.75%	26/1/2062	627,659	0.01%
Region Wallonne Belgium	2,000,000	0.50%	8/4/2030	1,807,266	0.02%
Region Wallonne Belgium	2,700,000	3.00%	6/12/2030	2,696,970	0.03%
Region Wallonne Belgium	3,000,000	3.50%	22/6/2035	2,952,835	0.04%
Region Wallonne Belgium	600,000	0.50%	22/6/2037	413,690	0.01%
Region Wallonne Belgium	700,000	2.88%	14/1/2038	629,015	0.01%
Region Wallonne Belgium	700,000	3.75%	22/4/2039	679,368	0.01%
Region Wallonne Belgium	600,000	3.50%	15/3/2043	539,216	0.01%
Region Wallonne Belgium	700,000	0.65%	16/1/2051	299,469	0.00%
Region Wallonne Belgium	2,800,000	3.90%	22/6/2054	2,476,156	0.03%
				379,469,079	4.79%
クロアチア0.27%(2024年12月31日:0.21%)
Croatia Government International Bond	700,000	3.00%	20/3/2027	706,247	0.01%
Croatia Government International Bond	2,000,000	2.70%	15/6/2028	2,013,387	0.03%
Croatia Government International Bond	7,273,000	1.50%	17/6/2031	6,777,231	0.09%
Croatia Government International Bond	2,726,000	2.88%	22/4/2032	2,706,113	0.03%
Croatia Government International Bond	4,400,000	3.38%	12/3/2034	4,483,857	0.06%
Croatia Government International Bond	4,459,000	3.25%	11/2/2037	4,302,017	0.05%
				20,988,852	0.27%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
キプロス0.05%(2024年12月31日:0.07%)
Cyprus Government International Bond	3,654,000	3.25%	27/6/2031	3,745,675	0.05%
				3,745,675	0.05%
エストニア 0.03%(2024年12月31日:0.03%)
Estonia Government International Bond	933,000	4.00%	12/10/2032	976,418	0.01%
Estonia Government International Bond	1,250,000	3.25%	17/1/2034	1,238,303	0.02%
				2,214,721	0.03%
フィンランド1.78%(2024年12月31日:1.72%)
Finland Government Bond	7,300,000	1.38%	15/4/2027	7,238,983	0.09%
Finland Government Bond	2,000,000	0.50%	15/9/2027	1,946,055	0.03%
Finland Government Bond	2,700,000	2.75%	4/7/2028	2,736,174	0.04%
Finland Government Bond	9,300,000	0.50%	15/9/2028	8,869,186	0.11%
Finland Government Bond	8,643,000	2.88%	15/4/2029	8,775,459	0.11%
Finland Government Bond	13,965,000	0.50%	15/9/2029	13,016,047	0.16%
Finland Government Bond	5,300,000	0.75%	15/4/2031	4,797,298	0.06%
Finland Government Bond	10,363,000	0.13%	15/9/2031	8,943,894	0.11%
Finland Government Bond	11,150,000	3.00%	15/9/2033	11,174,579	0.14%
Finland Government Bond	2,898,000	1.13%	15/4/2034	2,496,750	0.03%
Finland Government Bond	6,000,000	3.00%	15/9/2034	5,968,331	0.08%
Finland Government Bond	12,500,000	3.00%	15/9/2035	12,332,856	0.16%
Finland Government Bond	6,500,000	0.13%	15/4/2036	4,734,781	0.06%
Finland Government Bond	4,168,000	2.75%	15/4/2038	3,900,485	0.05%
Finland Government Bond	1,310,000	2.63%	4/7/2042	1,149,981	0.01%
Finland Government Bond	12,260,000	0.50%	15/4/2043	7,336,217	0.09%
Finland Government Bond	4,618,000	3.20%	15/4/2045	4,309,772	0.05%
Finland Government Bond	3,200,000	1.38%	15/4/2047	2,094,560	0.03%
Finland Government Bond	2,950,000	0.13%	15/4/2052	1,163,519	0.02%
Finland Government Bond	4,826,000	2.95%	15/4/2055	4,045,385	0.05%
Finnvera OYJ	2,000,000	2.88%	30/8/2029	2,020,431	0.03%
Finnvera OYJ	1,000,000	1.13%	17/5/2032	896,625	0.01%
Finnvera OYJ	500,000	1.25%	14/7/2033	439,577	0.01%
Fortum OYJ	500,000	4.00%	26/5/2028	513,290	0.01%
Fortum OYJ	500,000	4.50%	26/5/2033	527,944	0.01%
Kuntarahoitus OYJ	1,000,000	0.75%	7/9/2027	976,483	0.01%
Kuntarahoitus OYJ	5,000,000	2.88%	18/1/2028	5,057,775	0.06%
Kuntarahoitus OYJ	1,000,000	1.50%	17/5/2029	967,912	0.01%
Kuntarahoitus OYJ	3,500,000	2.50%	29/8/2029	3,495,230	0.04%
Kuntarahoitus OYJ	2,000,000	3.13%	29/7/2030	2,039,164	0.03%
Kuntarahoitus OYJ	1,200,000	0.00%	2/3/2031	1,041,248	0.01%
Kuntarahoitus OYJ	4,000,000	2.63%	14/6/2032	3,920,454	0.05%
Kuntarahoitus OYJ	1,800,000	2.75%	2/2/2034	1,751,635	0.02%
				140,678,080	1.78%
フランス 23.77%(2024年12月31日:23.77%)
Action Logement Services	1,400,000	0.38%	5/10/2031	1,195,927	0.02%
Action Logement Services	1,800,000	4.13%	3/10/2038	1,808,582	0.02%
Action Logement Services	2,300,000	0.75%	19/7/2041	1,405,854	0.02%
Action Logement Services	1,600,000	3.63%	25/5/2043	1,457,727	0.02%
Aeroports de Paris SA	800,000	1.00%	5/1/2029	759,725	0.01%
Aeroports de Paris SA	1,000,000	2.75%	2/4/2030	987,620	0.01%
Aeroports de Paris SA	2,000,000	3.38%	16/5/2031	2,012,889	0.03%
Aeroports de Paris SA	600,000	1.50%	2/7/2032	532,640	0.01%
Aeroports de Paris SA	800,000	1.13%	18/6/2034	654,399	0.01%
Aeroports de Paris SA	200,000	2.13%	11/10/2038	163,256	0.00%
Agence Francaise de Developpement EPIC	2,000,000	0.00%	28/10/2027	1,915,199	0.02%
Agence Francaise de Developpement EPIC	3,700,000	1.00%	31/1/2028	3,589,618	0.05%
Agence Francaise de Developpement EPIC	2,200,000	0.01%	25/11/2028	2,038,842	0.03%
Agence Francaise de Developpement EPIC	900,000	0.25%	29/6/2029	823,923	0.01%
Agence Francaise de Developpement EPIC	2,500,000	1.63%	25/5/2032	2,258,479	0.03%
Agence Francaise de Developpement EPIC	6,000,000	3.38%	25/5/2033	5,950,566	0.08%
Agence Francaise de Developpement EPIC	6,300,000	3.63%	20/1/2035	6,263,017	0.08%
Agence Francaise de Developpement EPIC	1,700,000	1.13%	2/3/2037	1,281,697	0.02%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Agence Francaise de Developpement EPIC	2,000,000	3.88%	3/4/2040	1,948,204	0.02%
Agence France Locale	5,000,000	1.13%	20/6/2028	4,831,008	0.06%
Agence France Locale	2,200,000	3.00%	20/8/2032	2,160,790	0.03%
Agence France Locale	1,300,000	3.63%	20/6/2038	1,249,847	0.02%
Bpifrance SACA	3,500,000	0.13%	26/2/2027	3,414,465	0.04%
Bpifrance SACA	1,000,000	0.13%	25/11/2028	930,717	0.01%
Bpifrance SACA	1,700,000	2.88%	25/11/2029	1,702,773	0.02%
Bpifrance SACA	1,500,000	0.25%	4/6/2031	1,290,170	0.02%
Bpifrance SACA	3,000,000	3.38%	25/11/2032	3,009,738	0.04%
Bpifrance SACA	5,300,000	3.13%	1/7/2033	5,202,762	0.07%
Bpifrance SACA	6,900,000	3.38%	25/5/2034	6,813,315	0.09%
Bpifrance SACA	2,900,000	3.25%	25/5/2035	2,805,312	0.04%
Caisse d'Amortissement de la Dette Sociale	2,200,000	2.88%	25/5/2027	2,219,170	0.03%
Caisse d'Amortissement de la Dette Sociale	5,000,000	2.75%	24/9/2027	5,038,443	0.06%
Caisse d'Amortissement de la Dette Sociale	1,600,000	1.75%	25/11/2027	1,582,657	0.02%
Caisse d'Amortissement de la Dette Sociale	9,500,000	3.00%	25/5/2028	9,628,815	0.12%
Caisse d'Amortissement de la Dette Sociale	6,700,000	2.75%	25/2/2029	6,736,920	0.08%
Caisse d'Amortissement de la Dette Sociale	2,400,000	3.13%	1/3/2030	2,436,433	0.03%
Caisse d'Amortissement de la Dette Sociale	7,400,000	2.88%	25/5/2030	7,434,074	0.09%
Caisse d'Amortissement de la Dette Sociale	6,600,000	0.00%	25/11/2030	5,750,067	0.07%
Caisse d'Amortissement de la Dette Sociale	7,100,000	0.00%	25/5/2031	6,073,588	0.08%
Caisse d'Amortissement de la Dette Sociale	3,100,000	0.13%	15/9/2031	2,637,596	0.03%
Caisse d'Amortissement de la Dette Sociale	3,600,000	3.00%	25/11/2031	3,594,237	0.05%
Caisse d'Amortissement de la Dette Sociale	7,200,000	0.45%	19/1/2032	6,191,366	0.08%
Caisse d'Amortissement de la Dette Sociale	3,300,000	1.50%	25/5/2032	2,997,937	0.04%
Caisse d'Amortissement de la Dette Sociale	3,000,000	2.75%	25/11/2032	2,920,577	0.04%
Caisse des Depots et Consignations	3,200,000	3.00%	25/5/2029	3,235,551	0.04%
CNP Assurances SA	100,000	0.38%	8/3/2028	94,719	0.00%
CNP Assurances SA	100,000	1.25%	27/1/2029	94,488	0.00%
CNP Assurances SA	700,000	2.75%	5/2/2029	692,839	0.01%
CNP Assurances SA	400,000	4.50%	10/6/2047	407,490	0.01%
CNP Assurances SA	400,000	2.50%	30/6/2051	377,665	0.00%
CNP Assurances SA	700,000	5.25%	18/7/2053	746,073	0.01%
CNP Assurances SA	300,000	1.88%	12/10/2053	257,277	0.00%
CNP Assurances SA	600,000	4.88%	16/7/2054	626,223	0.01%
Coentreprise de Transport d'Electricite SA	1,000,000	1.50%	29/7/2028	968,212	0.01%
Coentreprise de Transport d'Electricite SA	800,000	2.13%	29/7/2032	733,228	0.01%
Coentreprise de Transport d'Electricite SA	1,000,000	3.75%	17/1/2036	984,457	0.01%
Dexia SA	500,000	0.01%	22/1/2027	488,497	0.01%
Dexia SA	2,000,000	1.00%	18/10/2027	1,952,601	0.02%
Dexia SA	400,000	0.00%	21/1/2028	380,710	0.00%
Dexia SA	2,500,000	2.75%	18/1/2029	2,502,027	0.03%
Electricite de France SA	300,000	3.88%	12/1/2027	304,232	0.00%
Electricite de France SA	1,800,000	3.75%	5/6/2027	1,830,669	0.02%
Electricite de France SA	900,000	4.38%	12/10/2029	943,004	0.01%
Electricite de France SA	600,000	4.63%	26/4/2030	638,365	0.01%
Electricite de France SA	900,000	4.13%	17/6/2031	937,265	0.01%
Electricite de France SA	2,300,000	4.25%	25/1/2032	2,405,884	0.03%
Electricite de France SA	600,000	5.63%	21/2/2033	676,910	0.01%
Electricite de France SA	1,500,000	1.00%	29/11/2033	1,225,429	0.02%
Electricite de France SA	300,000	4.75%	12/10/2034	320,305	0.00%
Electricite de France SA	3,500,000	4.38%	17/6/2036	3,598,258	0.05%
Electricite de France SA	400,000	1.88%	13/10/2036	323,652	0.00%
Electricite de France SA	600,000	4.63%	25/1/2043	589,091	0.01%
Electricite de France SA	1,400,000	4.75%	17/6/2044	1,390,975	0.02%
Electricite de France SA	1,000,000	4.63%	7/5/2045	969,127	0.01%
Electricite de France SA	1,000,000	2.00%	9/12/2049	589,292	0.01%
French Republic Government Bond OAT	39,551,000	0.00%	25/2/2027	38,601,493	0.49%
French Republic Government Bond OAT	44,115,000	1.00%	25/5/2027	43,403,207	0.55%
French Republic Government Bond OAT	80,500,000	2.50%	24/9/2027	80,860,388	1.02%
French Republic Government Bond OAT	66,600,000	0.75%	25/2/2028	64,445,092	0.81%
French Republic Government Bond OAT	62,813,044	0.75%	25/5/2028	60,474,639	0.76%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
French Republic Government Bond OAT	30,000,000	2.40%	24/9/2028	29,982,455	0.38%
French Republic Government Bond OAT	61,765,000	0.75%	25/11/2028	58,857,830	0.74%
French Republic Government Bond OAT	49,951,000	2.75%	25/2/2029	50,328,461	0.64%
French Republic Government Bond OAT	30,000,000	5.50%	25/4/2029	32,800,501	0.41%
French Republic Government Bond OAT	55,638,000	0.50%	25/5/2029	51,971,609	0.66%
French Republic Government Bond OAT	57,968,000	0.00%	25/11/2029	52,401,908	0.66%
French Republic Government Bond OAT	62,705,015	2.75%	25/2/2030	62,872,123	0.79%
French Republic Government Bond OAT	9,546,596	2.50%	25/5/2030	9,467,148	0.12%
French Republic Government Bond OAT	80,430,000	0.00%	25/11/2030	70,248,456	0.89%
French Republic Government Bond OAT	28,100,000	2.70%	25/2/2031	27,900,725	0.35%
French Republic Government Bond OAT	54,285,000	1.50%	25/5/2031	50,564,859	0.64%
French Republic Government Bond OAT	63,806,000	0.00%	25/11/2031	53,700,093	0.68%
French Republic Government Bond OAT	43,700,000	0.00%	25/5/2032	36,052,670	0.45%
French Republic Government Bond OAT	14,000,000	5.75%	25/10/2032	16,257,433	0.21%
French Republic Government Bond OAT	42,329,209	2.00%	25/11/2032	39,377,630	0.50%
French Republic Government Bond OAT	43,300,000	3.00%	25/5/2033	42,683,755	0.54%
French Republic Government Bond OAT	52,995,810	3.50%	25/11/2033	53,746,510	0.68%
French Republic Government Bond OAT	67,682,152	1.25%	25/5/2034	57,292,351	0.72%
French Republic Government Bond OAT	46,200,000	3.00%	25/11/2034	44,693,727	0.56%
French Republic Government Bond OAT	57,600,000	3.20%	25/5/2035	56,251,335	0.71%
French Republic Government Bond OAT	32,100,000	3.50%	25/11/2035	31,944,290	0.40%
French Republic Government Bond OAT	36,419,000	1.25%	25/5/2036	29,009,344	0.37%
French Republic Government Bond OAT	44,362,506	1.25%	25/5/2038	33,213,975	0.42%
French Republic Government Bond OAT	23,548,691	4.00%	25/10/2038	23,997,193	0.30%
French Republic Government Bond OAT	28,850,592	1.75%	25/6/2039	22,515,003	0.28%
French Republic Government Bond OAT	45,843,685	0.50%	25/5/2040	28,623,489	0.36%
French Republic Government Bond OAT	11,156,914	4.50%	25/4/2041	11,817,760	0.15%
French Republic Government Bond OAT	15,982,000	3.60%	25/5/2042	15,094,214	0.19%
French Republic Government Bond OAT	29,769,981	2.50%	25/5/2043	23,889,146	0.30%
French Republic Government Bond OAT	26,730,000	0.50%	25/6/2044	14,323,872	0.18%
French Republic Government Bond OAT	28,205,034	3.25%	25/5/2045	24,824,518	0.31%
French Republic Government Bond OAT	15,614,564	2.00%	25/5/2048	10,537,947	0.13%
French Republic Government Bond OAT	11,824,000	3.00%	25/6/2049	9,589,022	0.12%
French Republic Government Bond OAT	29,697,000	1.50%	25/5/2050	17,124,646	0.22%
French Republic Government Bond OAT	31,150,000	0.75%	25/5/2052	13,624,064	0.17%
French Republic Government Bond OAT	34,738,575	0.75%	25/5/2053	14,701,715	0.19%
French Republic Government Bond OAT	23,039,000	3.00%	25/5/2054	17,731,581	0.22%
French Republic Government Bond OAT	13,708,000	4.00%	25/4/2055	12,743,277	0.16%
French Republic Government Bond OAT	20,936,407	3.25%	25/5/2055	16,849,265	0.21%
French Republic Government Bond OAT	21,500,000	3.75%	25/5/2056	18,919,427	0.24%
French Republic Government Bond OAT	8,180,354	4.00%	25/4/2060	7,462,072	0.09%
French Republic Government Bond OAT	15,564,000	1.75%	25/5/2066	7,617,516	0.10%
French Republic Government Bond OAT	16,187,000	0.50%	25/5/2072	3,998,666	0.05%
Gestion Securite de Stocks Securite SA	1,200,000	3.50%	25/11/2029	1,226,550	0.02%
Gestion Securite de Stocks Securite SA	1,200,000	3.38%	29/6/2030	1,223,427	0.02%
Ile-de-France Mobilites	1,400,000	3.05%	3/2/2033	1,374,216	0.02%
Ile-de-France Mobilites	400,000	3.50%	4/10/2039	377,958	0.00%
Ile-de-France Mobilites	2,000,000	3.80%	25/5/2045	1,874,004	0.02%
Ile-de-France Mobilites	1,100,000	3.45%	25/6/2049	944,616	0.01%
La Banque Postale SA	1,900,000	1.00%	9/2/2028	1,866,888	0.02%
La Banque Postale SA	1,000,000	4.00%	3/5/2028	1,026,618	0.01%
La Banque Postale SA	2,000,000	3.50%	13/6/2030	2,036,617	0.03%
La Banque Postale SA	500,000	0.75%	23/6/2031	433,614	0.01%
La Banque Postale SA	500,000	0.75%	2/8/2032	484,637	0.01%
La Banque Postale SA	300,000	5.50%	5/3/2034	317,395	0.00%
La Poste SA	800,000	0.38%	17/9/2027	772,441	0.01%
La Poste SA	1,000,000	2.63%	14/9/2028	998,532	0.01%
La Poste SA	500,000	1.45%	30/11/2028	483,647	0.01%
La Poste SA	900,000	3.75%	12/6/2030	925,645	0.01%
La Poste SA	1,400,000	1.38%	21/4/2032	1,248,429	0.02%
La Poste SA	700,000	3.13%	14/3/2033	685,8789	0.01%
La Poste SA	1,500,000	4.00%	12/6/2035	1,538,458	0.02%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
La Poste SA	900,000	0.63%	18/1/2036	661,955	0.01%
Orano SA	1,000,000	5.38%	15/5/2027	1,030,099	0.01%
Orano SA	1,000,000	4.00%	12/3/2031	1,020,701	0.01%
Regie Autonome des Transports Parisiens EPIC	1,100,000	0.88%	25/5/2027	1,077,763	0.01%
Regie Autonome des Transports Parisiens EPIC	500,000	3.25%	11/4/2033	493,434	0.01%
Regie Autonome des Transports Parisiens EPIC	1,000,000	3.25%	25/5/2034	976,543	0.01%
Region of Ile de France	1,200,000	2.23%	19/7/2032	1,134,514	0.01%
Region of Ile de France	1,500,000	3.65%	25/5/2035	1,507,499	0.02%
RTE Reseau de Transport d'Electricite SADIR	800,000	0.00%	9/9/2027	767,283	0.01%
RTE Reseau de Transport d'Electricite SADIR	300,000	2.88%	2/10/2028	301,437	0.00%
RTE Reseau de Transport d'Electricite SADIR	1,900,000	1.50%	27/9/2030	1,761,631	0.02%
RTE Reseau de Transport d'Electricite SADIR	800,000	3.50%	7/12/2031	810,378	0.01%
RTE Reseau de Transport d'Electricite SADIR	4,600,000	0.63%	8/7/2032	3,883,077	0.05%
RTE Reseau de Transport d'Electricite SADIR	700,000	3.75%	4/7/2035	703,008	0.01%
RTE Reseau de Transport d'Electricite SADIR	400,000	3.50%	2/10/2036	387,634	0.00%
RTE Reseau de Transport d'Electricite SADIR	600,000	1.88%	23/10/2037	485,251	0.01%
RTE Reseau de Transport d'Electricite SADIR	2,400,000	3.88%	24/11/2037	2,387,514	0.03%
RTE Reseau de Transport d'Electricite SADIR	400,000	1.13%	8/7/2040	269,152	0.00%
RTE Reseau de Transport d'Electricite SADIR	1,000,000	3.75%	30/4/2044	925,059	0.01%
RTE Reseau de Transport d'Electricite SADIR	800,000	1.13%	9/9/2049	404,262	0.01%
SFIL SA	300,000	0.00%	23/11/2028	278,238	0.00%
SFIL SA	700,000	0.05%	4/6/2029	639,618	0.01%
SFIL SA	3,800,000	3.13%	17/9/2029	3,841,153	0.05%
SFIL SA	3,300,000	3.00%	24/9/2030	3,309,340	0.04%
SFIL SA	1,000,000	3.25%	25/11/2030	1,010,557	0.01%
SFIL SA	1,000,000	3.25%	5/10/2032	995,213	0.01%
SNCF Reseau	3,100,000	1.13%	19/5/2027	3,046,447	0.04%
SNCF Reseau	6,000,000	0.88%	22/1/2029	5,678,408	0.07%
SNCF Reseau	700,000	1.13%	25/5/2030	647,361	0.01%
SNCF Reseau	1,750,000	5.00%	10/10/2033	1,929,874	0.02%
SNCF Reseau	700,000	1.88%	30/3/2034	614,382	0.01%
SNCF Reseau	1,100,000	0.75%	25/5/2036	812,521	0.01%
SNCF Reseau	800,000	1.50%	29/5/2037	621,997	0.01%
SNCF Reseau	3,400,000	2.25%	20/12/2047	2,322,865	0.03%
Societe Des Grands Projets EPIC	1,000,000	1.13%	22/10/2028	961,843	0.01%
Societe Des Grands Projets EPIC	7,800,000	0.00%	25/11/2030	6,770,268	0.09%
Societe Des Grands Projets EPIC	1,400,000	0.30%	25/11/2031	1,191,690	0.02%
Societe Des Grands Projets EPIC	1,800,000	0.30%	2/9/2036	1,260,248	0.02%
Societe Des Grands Projets EPIC	1,000,000	1.63%	8/4/2042	707,879	0.01%
Societe Des Grands Projets EPIC	300,000	3.50%	25/5/2043	274,363	0.00%
Societe Des Grands Projets EPIC	1,600,000	3.38%	25/5/2045	1,415,636	0.02%
Societe Des Grands Projets EPIC	1,400,000	3.50%	25/6/2049	1,218,591	0.02%
Societe Des Grands Projets EPIC	800,000	1.00%	26/11/2051	381,590	0.00%
Societe Des Grands Projets EPIC	3,500,000	3.70%	25/5/2053	3,050,237	0.04%
Societe Des Grands Projets EPIC	2,000,000	0.70%	15/10/2060	661,564	0.01%
Societe Des Grands Projets EPIC	1,900,000	1.00%	18/2/2070	630,711	0.01%
Societe Nationale SNCF SACA	4,300,000	3.38%	25/5/2033	4,296,801	0.05%
Societe Nationale SNCF SACA	1,500,000	0.88%	28/2/2051	669,219	0.01%
Societe Nationale SNCF SACA	1,400,000	1.00%	19/1/2061	498,711	0.01%
Tisseo Collectivites Smtcat SM	400,000	4.00%	8/4/2039	387,127	0.00%
UNEDIC ASSEO	2,000,000	0.88%	25/5/2028	1,928,415	0.02%
UNEDIC ASSEO	9,000,000	0.00%	25/11/2028	8,380,122	0.11%
UNEDIC ASSEO	2,000,000	0.25%	25/11/2029	1,821,767	0.02%
UNEDIC ASSEO	5,300,000	0.00%	19/11/2030	4,615,015	0.06%
UNEDIC ASSEO	1,500,000	1.75%	25/11/2032	1,370,550	0.02%
UNEDIC ASSEO	2,500,000	3.13%	25/4/2033	2,478,724	0.03%
UNEDIC ASSEO	3,000,000	3.38%	25/11/2033	3,007,809	0.04%
UNEDIC ASSEO	1,100,000	3.13%	25/11/2034	1,072,745	0.01%
UNEDIC ASSEO	4,800,000	0.50%	25/5/2036	3,504,110	0.04%
Ville de Paris	1,000,000	0.75%	30/11/2041	606,931	0.01%
Ville de Paris	1,200,000	3.75%	22/6/2048	1,084,836	0.01%
				1,883,197,096	23.77%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
ドイツ23.21%(2024年12月31日:22.88%)
Bayerische Landesbank	1,000,000	0.13%	10/2/2028	947,587	0.01%
Bayerische Landesbank	1,200,000	3.75%	14/2/2031	1,232,945	0.02%
Bayerische Landesbank	3,000,000	3.00%	10/10/2031	2,987,130	0.04%
Bayerische Landesbank	200,000	7.00%	5/1/2034	218,767	0.00%
Bayerische Landesbodenkreditanstalt	1,400,000	3.25%	15/3/2035	1,407,665	0.02%
Bundesobligation	41,500,000	0.00%	16/4/2027	40,442,865	0.51%
Bundesobligation	29,780,000	1.30%	15/10/2027	29,384,021	0.37%
Bundesobligation	30,000,000	2.20%	13/4/2028	30,045,117	0.38%
Bundesobligation	29,900,000	2.40%	19/10/2028	30,057,508	0.38%
Bundesobligation	34,000,000	2.10%	12/4/2029	33,814,222	0.43%
Bundesobligation	27,700,000	2.50%	11/10/2029	27,866,989	0.35%
Bundesobligation	25,000,000	2.40%	18/4/2030	24,975,662	0.32%
Bundesobligation	20,000,000	2.20%	10/10/2030	19,776,728	0.25%
Bundesrepublik Deutschland Bundesanleihe	14,313,000	0.25%	15/2/2027	14,037,329	0.18%
Bundesrepublik Deutschland Bundesanleihe	19,521,000	0.50%	15/8/2027	19,037,941	0.24%
Bundesrepublik Deutschland Bundesanleihe1	47,190,000	0.00%	15/11/2027	45,399,477	0.57%
Bundesrepublik Deutschland Bundesanleihe	28,040,000	5.63%	4/1/2028	29,953,800	0.38%
Bundesrepublik Deutschland Bundesanleihe	8,600,000	0.50%	15/2/2028	8,315,904	0.10%
Bundesrepublik Deutschland Bundesanleihe	26,100,000	0.00%	15/11/2028	24,527,666	0.31%
Bundesrepublik Deutschland Bundesanleihe	17,700,000	0.25%	15/2/2029	16,658,046	0.21%
Bundesrepublik Deutschland Bundesanleihe	6,008,000	0.00%	15/8/2029	5,535,579	0.07%
Bundesrepublik Deutschland Bundesanleihe	34,790,000	2.10%	15/11/2029	34,490,188	0.44%
Bundesrepublik Deutschland Bundesanleihe	33,088,000	0.00%	15/2/2030	30,069,287	0.38%
Bundesrepublik Deutschland Bundesanleihe	33,788,000	0.00%	15/8/2030	30,272,663	0.38%
Bundesrepublik Deutschland Bundesanleihe	46,000,000	2.40%	15/11/2030	45,894,911	0.58%
Bundesrepublik Deutschland Bundesanleihe	18,559,250	5.50%	4/1/2031	21,185,453	0.27%
Bundesrepublik Deutschland Bundesanleihe	16,502,000	0.00%	15/2/2031	14,583,168	0.18%
Bundesrepublik Deutschland Bundesanleihe	30,750,000	0.00%	15/8/2031	26,760,657	0.34%
Bundesrepublik Deutschland Bundesanleihe	28,711,158	0.00%	15/2/2032	24,612,224	0.31%
Bundesrepublik Deutschland Bundesanleihe	23,939,354	1.70%	15/8/2032	22,647,234	0.29%
Bundesrepublik Deutschland Bundesanleihe	45,020,000	2.30%	15/2/2033	43,996,897	0.56%
Bundesrepublik Deutschland Bundesanleihe	29,560,856	2.60%	15/8/2033	29,332,909	0.37%
Bundesrepublik Deutschland Bundesanleihe	41,574,000	2.20%	15/2/2034	39,924,622	0.50%
Bundesrepublik Deutschland Bundesanleihe	34,980,000	2.60%	15/8/2034	34,482,569	0.44%
Bundesrepublik Deutschland Bundesanleihe	37,514,000	2.50%	15/2/2035	36,562,985	0.46%
Bundesrepublik Deutschland Bundesanleihe	27,760,235	0.00%	15/5/2035	21,299,122	0.27%
Bundesrepublik Deutschland Bundesanleihe	35,000,000	2.60%	15/8/2035	34,258,261	0.43%
Bundesrepublik Deutschland Bundesanleihe	33,865,000	0.00%	15/5/2036	25,047,914	0.32%
Bundesrepublik Deutschland Bundesanleihe	16,990,000	4.00%	4/1/2037	18,608,862	0.23%
Bundesrepublik Deutschland Bundesanleihe	23,850,000	1.00%	15/5/2038	18,772,931	0.24%
Bundesrepublik Deutschland Bundesanleihe	13,629,000	4.25%	4/7/2039	15,312,719	0.19%
Bundesrepublik Deutschland Bundesanleihe	15,209,102	4.75%	4/7/2040	17,979,855	0.23%
Bundesrepublik Deutschland Bundesanleihe	30,700,000	2.60%	15/5/2041	28,351,127	0.36%
Bundesrepublik Deutschland Bundesanleihe	14,452,000	3.25%	4/7/2042	14,410,644	0.18%
Bundesrepublik Deutschland Bundesanleihe	25,652,000	2.50%	4/7/2044	22,739,673	0.29%
Bundesrepublik Deutschland Bundesanleihe	29,041,000	2.50%	15/8/2046	25,291,726	0.32%
Bundesrepublik Deutschland Bundesanleihe	38,739,000	1.25%	15/8/2048	25,600,765	0.32%
Bundesrepublik Deutschland Bundesanleihe	45,199,440	0.00%	15/8/2050	19,502,738	0.25%
Bundesrepublik Deutschland Bundesanleihe	24,450,000	0.00%	15/8/2052	9,853,059	0.12%
Bundesrepublik Deutschland Bundesanleihe	34,010,946	1.80%	15/8/2053	23,997,638	0.30%
Bundesrepublik Deutschland Bundesanleihe	22,800,000	2.50%	15/8/2054	18,824,726	0.24%
Bundesrepublik Deutschland Bundesanleihe	19,350,000	2.90%	15/8/2056	17,263,577	0.22%
Bundesschatzanweisungen	19,000,000	1.70%	10/6/2027	18,900,857	0.24%
Bundesschatzanweisungen	40,000,000	2.00%	16/12/2027	39,907,172	0.50%
Deutsche Bahn AG	9,000,000	0.50%	9/4/2027	8,794,688	0.11%
Deutsche Bahn AG	3,100,000	3.50%	20/9/2027	3,155,190	0.04%
Deutsche Bahn AG	2,000,000	0.63%	26/9/2028	1,907,970	0.02%
Deutsche Bahn AG	350,000	0.38%	23/6/2029	324,159	0.00%
Deutsche Bahn AG	1,500,000	1.88%	24/5/2030	1,452,504	0.02%
Deutsche Bahn AG	300,000	1.63%	6/11/2030	285,575	0.00%
Deutsche Bahn AG	800,000	1.63%	16/8/2033	716,614	0.01%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Deutsche Bahn AG	4,500,000	1.38%	3/3/2034	3,892,925	0.05%
Deutsche Bahn AG	400,000	0.75%	16/7/2035	315,669	0.00%
Deutsche Bahn AG	1,500,000	0.63%	15/4/2036	1,136,895	0.01%
Deutsche Bahn AG	1,000,000	3.38%	29/1/2038	978,074	0.01%
Deutsche Bahn AG	180,000	0.88%	23/6/2039	126,357	0.00%
Deutsche Bahn AG	500,000	1.38%	16/4/2040	371,132	0.00%
Deutsche Bahn AG	840,000	4.00%	23/11/2043	848,938	0.01%
Deutsche Bahn AG	700,000	0.63%	8/12/2050	321,921	0.00%
Deutsche Bahn AG	440,000	1.13%	29/5/2051	234,452	0.00%
EnBW Energie Baden-Wuerttemberg AG	800,000	1.63%	5/8/2079	782,369	0.01%
EnBW Energie Baden-Wuerttemberg AG	800,000	2.13%	31/8/2081	710,128	0.01%
EnBW Energie Baden-Wuerttemberg AG	400,000	1.38%	31/8/2081	379,998	0.00%
EnBW International Finance BV	1,400,000	3.50%	24/7/2028	1,431,253	0.02%
EnBW International Finance BV	700,000	3.00%	20/5/2029	704,451	0.01%
EnBW International Finance BV	100,000	4.05%	22/11/2029	104,271	0.00%
EnBW International Finance BV	900,000	4.30%	23/5/2034	945,251	0.01%
EnBW International Finance BV	2,550,000	4.00%	24/1/2035	2,614,070	0.03%
EWE AG	520,000	0.38%	22/10/2032	423,798	0.01%
FMS Wertmanagement	300,000	0.38%	29/4/2030	271,469	0.00%
Free & Hanseatic City of Hamburg	500,000	0.01%	3/6/2030	444,984	0.01%
Free & Hanseatic City of Hamburg	3,000,000	2.88%	30/4/2032	2,995,756	0.04%
Free & Hanseatic City of Hamburg	2,800,000	1.20%	3/6/2033	2,464,419	0.03%
Free & Hanseatic City of Hamburg	1,000,000	0.01%	5/11/2035	731,517	0.01%
Free & Hanseatic City of Hamburg	1,000,000	1.45%	5/11/2038	788,923	0.01%
Free & Hanseatic City of Hamburg	1,000,000	0.25%	18/2/2041	609,106	0.01%
Free & Hanseatic City of Hamburg	795,000	0.20%	3/9/2049	334,833	0.00%
Free State of Bavaria	1,000,000	0.01%	7/5/2027	971,764	0.01%
Free State of Saxony	2,000,000	2.88%	29/3/2028	2,022,618	0.03%
Free State of Saxony	2,000,000	2.75%	12/3/2030	2,009,683	0.03%
Free State of Saxony	1,000,000	2.88%	15/5/2034	983,338	0.01%
Free State of Saxony	1,000,000	0.01%	17/12/2035	728,283	0.01%
Gemeinsame Deutsche Bundeslaender HB HH MV RP SL SH	3,600,000	1.25%	4/5/2029	3,447,967	0.04%
Gemeinsame Deutsche Bundeslaender HB HH MV RP SL SH	1,250,000	0.00%	25/9/2029	1,134,452	0.01%
Gemeinsame Deutsche Bundeslaender HB HH RP SL SH	5,000,000	0.01%	8/10/2027	4,804,701	0.06%
Gemeinsame Deutsche Bundeslaender HB HH RP SL SH	2,500,000	0.75%	25/9/2028	2,385,377	0.03%
Hannoversche Beteiligungsgesellschaft Niedersachsen mbH	2,800,000	0.25%	16/7/2035	2,129,140	0.03%
HOWOGE Wohnungsbaugesellschaft mbH	1,000,000	3.88%	5/6/2030	1,026,419	0.01%
HOWOGE Wohnungsbaugesellschaft mbH	700,000	1.13%	1/11/2033	582,775	0.01%
Investitionsbank Berlin	2,700,000	2.75%	4/10/2027	2,719,677	0.03%
Investitionsbank Berlin	3,200,000	2.63%	10/1/2028	3,216,524	0.04%
Investitionsbank Berlin	600,000	3.13%	13/9/2028	610,090	0.01%
Investitionsbank Berlin	500,000	3.13%	1/3/2033	502,642	0.01%
Investitionsbank Berlin	2,000,000	0.05%	2/3/2035	1,504,153	0.02%
Investitionsbank Schleswig-Holstein	3,000,000	0.75%	3/11/2027	2,911,731	0.04%
Kreditanstalt fuer Wiederaufbau	12,000,000	0.00%	31/3/2027	11,702,460	0.15%
Kreditanstalt fuer Wiederaufbau	9,617,000	0.00%	30/4/2027	9,359,373	0.12%
Kreditanstalt fuer Wiederaufbau	10,000,000	0.01%	5/5/2027	9,731,573	0.12%
Kreditanstalt fuer Wiederaufbau	10,500,000	1.25%	30/6/2027	10,367,913	0.13%
Kreditanstalt fuer Wiederaufbau	7,100,000	2.38%	5/8/2027	7,122,717	0.09%
Kreditanstalt fuer Wiederaufbau	4,800,000	0.50%	15/9/2027	4,668,029	0.06%
Kreditanstalt fuer Wiederaufbau	1,700,000	2.75%	1/10/2027	1,716,303	0.02%
Kreditanstalt fuer Wiederaufbau	7,300,000	0.00%	15/12/2027	6,995,674	0.09%
Kreditanstalt fuer Wiederaufbau	5,700,000	0.63%	7/1/2028	5,521,822	0.07%
Kreditanstalt fuer Wiederaufbau	2,500,000	2.75%	15/3/2028	2,526,587	0.03%
Kreditanstalt fuer Wiederaufbau	2,800,000	0.75%	28/6/2028	2,697,366	0.03%
Kreditanstalt fuer Wiederaufbau	9,857,000	3.13%	10/10/2028	10,061,982	0.13%
Kreditanstalt fuer Wiederaufbau	2,554,000	0.75%	15/1/2029	2,432,977	0.03%
Kreditanstalt fuer Wiederaufbau	10,300,000	2.63%	26/4/2029	10,364,702	0.13%
Kreditanstalt fuer Wiederaufbau	9,000,000	2.38%	4/10/2029	8,969,171	0.11%
Kreditanstalt fuer Wiederaufbau	2,300,000	2.00%	15/11/2029	2,259,117	0.03%
Kreditanstalt fuer Wiederaufbau	2,043,000	2.88%	28/12/2029	2,070,863	0.03%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Kreditanstalt fuer Wiederaufbau	2,986,000	2.75%	15/5/2030	3,012,361	0.04%
Kreditanstalt fuer Wiederaufbau	4,984,000	3.13%	7/6/2030	5,102,824	0.06%
Kreditanstalt fuer Wiederaufbau	3,000,000	2.50%	9/10/2030	2,991,251	0.04%
Kreditanstalt fuer Wiederaufbau	5,890,000	0.00%	10/1/2031	5,166,892	0.07%
Kreditanstalt fuer Wiederaufbau	16,494,000	2.75%	20/2/2031	16,568,932	0.21%
Kreditanstalt fuer Wiederaufbau	2,000,000	0.00%	15/9/2031	1,716,660	0.02%
Kreditanstalt fuer Wiederaufbau	6,800,000	2.88%	31/3/2032	6,835,301	0.09%
Kreditanstalt fuer Wiederaufbau	7,000,000	2.63%	15/11/2032	6,909,899	0.09%
Kreditanstalt fuer Wiederaufbau	1,523,000	2.75%	14/2/2033	1,511,947	0.02%
Kreditanstalt fuer Wiederaufbau	1,022,000	1.13%	9/5/2033	903,157	0.01%
Kreditanstalt fuer Wiederaufbau	8,190,000	2.88%	7/6/2033	8,169,972	0.10%
Kreditanstalt fuer Wiederaufbau	2,286,000	2.63%	10/1/2034	2,232,140	0.03%
Kreditanstalt fuer Wiederaufbau	9,616,000	2.75%	17/1/2035	9,407,942	0.12%
Kreditanstalt fuer Wiederaufbau	1,000,000	1.25%	4/7/2036	831,801	0.01%
Kreditanstalt fuer Wiederaufbau	1,500,000	1.13%	31/3/2037	1,202,678	0.02%
Kreditanstalt fuer Wiederaufbau	6,500,000	1.13%	15/6/2037	5,180,598	0.07%
Kreditanstalt fuer Wiederaufbau	7,834,000	0.88%	4/7/2039	5,730,630	0.07%
Land Baden-Wuerttemberg	4,000,000	2.75%	16/5/2029	4,033,026	0.05%
Land Baden-Wuerttemberg	2,000,000	0.01%	2/9/2030	1,769,386	0.02%
Land Baden-Wuerttemberg	1,050,000	0.01%	7/3/2031	911,730	0.01%
Land Baden-Wuerttemberg	1,000,000	0.01%	9/7/2032	830,357	0.01%
Land Baden-Wuerttemberg	3,000,000	2.63%	12/2/2035	2,882,347	0.04%
Land Baden-Wuerttemberg	1,803,000	3.13%	23/1/2040	1,727,236	0.02%
Land Berlin	2,200,000	0.63%	5/2/2029	2,077,389	0.03%
Land Berlin	4,838,000	2.88%	5/4/2029	4,891,106	0.06%
Land Berlin	3,200,000	3.00%	15/5/2029	3,246,956	0.04%
Land Berlin	800,000	0.10%	18/1/2030	724,192	0.01%
Land Berlin	1,000,000	0.01%	2/7/2030	887,920	0.01%
Land Berlin	3,849,000	2.75%	16/1/2032	3,826,504	0.05%
Land Berlin	800,000	1.63%	2/8/2032	738,334	0.01%
Land Berlin	1,700,000	1.30%	13/6/2033	1,506,244	0.02%
Land Berlin	2,039,000	2.88%	15/2/2034	2,011,232	0.03%
Land Berlin	700,000	0.75%	3/4/2034	581,282	0.01%
Land Berlin	2,000,000	0.13%	4/6/2035	1,510,230	0.02%
Land Berlin	1,000,000	0.63%	25/8/2036	757,848	0.01%
Land Berlin	500,000	1.38%	27/8/2038	393,041	0.01%
Land Berlin	1,901,000	0.05%	6/8/2040	1,140,803	0.01%
Land Berlin	2,000,000	0.13%	24/11/2045	996,449	0.01%
Land Berlin	1,000,000	0.35%	9/9/2050	441,995	0.01%
Land Berlin	3,000,000	3.00%	13/3/2054	2,526,446	0.03%
Land Thueringen	4,000,000	2.50%	3/9/2029	3,992,882	0.05%
Land Thueringen	2,450,000	0.01%	24/3/2031	2,121,037	0.03%
Land Thueringen	1,000,000	1.25%	5/12/2033	873,629	0.01%
Landesbank Baden-Wuerttemberg	2,000,000	0.38%	28/2/2028	1,898,540	0.02%
Landesbank Baden-Wuerttemberg	2,000,000	0.38%	7/5/2029	1,833,976	0.02%
Landesbank Baden-Wuerttemberg	1,400,000	0.38%	21/2/2031	1,209,773	0.02%
Landesbank Hessen-Thueringen Girozentrale	1,000,000	2.63%	24/8/2027	999,948	0.01%
Landesbank Hessen-Thueringen Girozentrale	400,000	4.00%	4/2/2030	412,646	0.01%
Landesbank Hessen-Thueringen Girozentrale	5,000,000	3.00%	5/3/2032	4,939,076	0.06%
Landeskreditbank Baden-Wuerttemberg Foerderbank	2,000,000	0.01%	20/1/2031	1,738,175	0.02%
Landwirtschaftliche Rentenbank	2,800,000	0.63%	18/5/2027	2,741,893	0.03%
Landwirtschaftliche Rentenbank	1,960,000	0.00%	22/9/2027	1,887,472	0.02%
Landwirtschaftliche Rentenbank	2,000,000	0.38%	14/2/2028	1,921,901	0.02%
Landwirtschaftliche Rentenbank	3,020,000	0.00%	19/7/2028	2,847,612	0.04%
Landwirtschaftliche Rentenbank	2,550,000	0.00%	13/12/2028	2,377,654	0.03%
Landwirtschaftliche Rentenbank	1,100,000	3.25%	6/9/2030	1,128,356	0.01%
Landwirtschaftliche Rentenbank	1,000,000	0.00%	30/6/2031	861,422	0.01%
Landwirtschaftliche Rentenbank	5,000,000	2.88%	9/7/2031	5,026,994	0.06%
Landwirtschaftliche Rentenbank	6,600,000	2.75%	16/2/2032	6,576,397	0.08%
Landwirtschaftliche Rentenbank	4,000,000	2.50%	11/5/2032	3,918,948	0.05%
Landwirtschaftliche Rentenbank	800,000	1.90%	12/7/2032	754,554	0.01%
Landwirtschaftliche Rentenbank	6,500,000	2.75%	17/1/2033	6,427,213	0.08%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Landwirtschaftliche Rentenbank	700,000	0.01%	26/11/2040	413,281	0.01%
LFA Foerderbank Bayern	2,000,000	0.75%	4/1/2027	1,971,577	0.02%
LFA Foerderbank Bayern	600,000	0.75%	1/4/2031	538,466	0.01%
Norddeutsche Landesbank-Girozentrale	6,200,000	3.25%	4/2/2028	6,249,439	0.08%
NRW Bank	1,300,000	0.13%	12/4/2027	1,266,813	0.02%
NRW Bank	800,000	0.63%	4/1/2028	773,253	0.01%
NRW Bank	1,632,000	3.13%	30/8/2028	1,659,558	0.02%
NRW Bank	2,500,000	0.00%	22/9/2028	2,339,663	0.03%
NRW Bank	2,500,000	2.63%	6/2/2029	2,507,783	0.03%
NRW Bank	1,000,000	0.00%	14/5/2029	918,321	0.01%
NRW Bank	3,900,000	0.00%	15/10/2029	3,536,938	0.04%
NRW Bank	450,000	0.00%	18/2/2030	403,723	0.01%
NRW Bank	1,044,000	3.00%	31/5/2030	1,058,616	0.01%
NRW Bank	2,000,000	2.50%	2/9/2030	1,982,675	0.03%
NRW Bank	1,000,000	0.00%	3/2/2031	868,719	0.01%
NRW Bank	3,320,000	2.75%	15/5/2031	3,312,662	0.04%
NRW Bank	1,000,000	1.63%	3/8/2032	922,675	0.01%
NRW Bank	1,000,000	2.88%	5/4/2033	991,378	0.01%
NRW Bank	2,000,000	0.88%	12/4/2034	1,677,549	0.02%
NRW Bank	1,600,000	2.88%	25/7/2034	1,572,701	0.02%
NRW Bank	600,000	2.50%	7/9/2037	545,036	0.01%
NRW Bank	500,000	0.50%	17/6/2041	309,806	0.00%
NRW Bank	550,000	1.25%	13/5/2049	315,968	0.00%
Saechsische Aufbaubank-Foerderbank	400,000	2.75%	20/3/2031	397,701	0.01%
State of Brandenburg	910,000	2.50%	25/1/2029	909,359	0.01%
State of Brandenburg	2,000,000	0.13%	4/2/2030	1,807,327	0.02%
State of Brandenburg	2,390,000	0.05%	1/7/2031	2,060,055	0.03%
State of Brandenburg	1,017,000	3.00%	27/2/2032	1,022,843	0.01%
State of Brandenburg	500,000	3.00%	28/5/2035	492,986	0.01%
State of Brandenburg	500,000	0.75%	8/8/2036	384,485	0.00%
State of Brandenburg	1,540,000	1.45%	26/11/2038	1,210,707	0.02%
State of Brandenburg	500,000	0.13%	26/1/2046	241,168	0.00%
State of Brandenburg	500,000	0.30%	4/10/2049	217,493	0.00%
State of Brandenburg	700,000	0.60%	13/10/2051	319,578	0.00%
State of Bremen	500,000	0.01%	6/7/2027	483,625	0.01%
State of Bremen	1,800,000	0.45%	15/3/2029	1,686,667	0.02%
State of Bremen	1,000,000	2.88%	18/7/2031	1,003,463	0.01%
State of Bremen	4,500,000	2.75%	30/1/2032	4,468,038	0.06%
State of Bremen	3,312,000	2.75%	28/1/2033	3,261,484	0.04%
State of Bremen	5,387,000	0.55%	4/2/2050	2,554,218	0.03%
State of Hesse	3,000,000	1.75%	5/7/2027	2,978,120	0.04%
State of Hesse	400,000	0.00%	22/9/2027	384,935	0.00%
State of Hesse	3,920,000	2.88%	12/3/2029	3,963,385	0.05%
State of Hesse	1,195,000	0.01%	11/3/2030	1,071,710	0.01%
State of Hesse	500,000	2.50%	28/8/2030	496,217	0.01%
State of Hesse	500,000	0.00%	8/11/2030	438,970	0.01%
State of Hesse	300,000	0.13%	10/10/2031	257,138	0.00%
State of Hesse	19,851,000	2.75%	12/1/2032	19,728,078	0.25%
State of Hesse	700,000	1.30%	10/10/2033	616,322	0.01%
State of Lower Saxony	4,000,000	0.01%	25/11/2027	3,831,735	0.05%
State of Lower Saxony	5,000,000	0.75%	15/2/2028	4,837,782	0.06%
State of Lower Saxony	3,000,000	2.88%	18/4/2028	3,032,929	0.04%
State of Lower Saxony	6,100,000	0.01%	16/6/2028	5,758,740	0.07%
State of Lower Saxony	1,000,000	0.88%	25/10/2028	957,759	0.01%
State of Lower Saxony	5,500,000	2.63%	15/3/2029	5,520,883	0.07%
State of Lower Saxony	1,016,000	0.38%	14/5/2029	946,118	0.01%
State of Lower Saxony	5,000,000	2.75%	25/3/2030	5,027,305	0.06%
State of Lower Saxony	1,500,000	0.01%	13/8/2030	1,328,752	0.02%
State of Lower Saxony	3,500,000	0.01%	10/1/2031	3,055,547	0.04%
State of Lower Saxony	1,200,000	2.75%	17/2/2031	1,199,268	0.02%
State of Lower Saxony	3,100,000	2.75%	24/2/2034	3,029,906	0.04%
State of North Rhine-Westphalia Germany	1,500,000	0.95%	13/3/2028	1,457,576	0.02%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
State of North Rhine-Westphalia Germany	3,000,000	0.90%	15/11/2028	2,872,509	0.04%
State of North Rhine-Westphalia Germany	5,000,000	3.00%	6/6/2029	5,076,439	0.06%
State of North Rhine-Westphalia Germany	4,000,000	0.20%	9/4/2030	3,611,120	0.05%
State of North Rhine-Westphalia Germany	2,100,000	2.00%	15/6/2032	1,987,829	0.03%
State of North Rhine-Westphalia Germany	4,000,000	2.38%	13/5/2033	3,837,509	0.05%
State of North Rhine-Westphalia Germany	9,151,000	2.90%	7/6/2033	9,079,526	0.11%
State of North Rhine-Westphalia Germany	4,200,000	2.70%	5/9/2034	4,071,157	0.05%
State of North Rhine-Westphalia Germany	1,550,000	0.00%	12/10/2035	1,136,117	0.01%
State of North Rhine-Westphalia Germany	2,100,000	1.65%	22/2/2038	1,737,296	0.02%
State of North Rhine-Westphalia Germany	1,000,000	1.50%	12/6/2040	765,435	0.01%
State of North Rhine-Westphalia Germany	1,210,000	0.60%	4/6/2041	786,348	0.01%
State of North Rhine-Westphalia Germany	1,000,000	0.75%	16/8/2041	662,113	0.01%
State of North Rhine-Westphalia Germany	1,500,000	1.00%	16/10/2046	912,821	0.01%
State of North Rhine-Westphalia Germany	1,900,000	1.65%	16/5/2047	1,314,949	0.02%
State of North Rhine-Westphalia Germany	3,000,000	1.55%	16/6/2048	1,992,205	0.03%
State of North Rhine-Westphalia Germany	4,031,000	0.80%	30/7/2049	2,145,144	0.03%
State of North Rhine-Westphalia Germany	1,000,000	0.38%	2/9/2050	449,970	0.01%
State of North Rhine-Westphalia Germany	2,400,000	0.50%	15/1/2052	1,081,572	0.01%
State of North Rhine-Westphalia Germany	2,027,000	2.90%	15/1/2053	1,695,535	0.02%
State of North Rhine-Westphalia Germany	3,571,000	3.00%	20/3/2054	3,011,804	0.04%
State of North Rhine-Westphalia Germany	1,750,000	1.75%	26/10/2057	1,061,795	0.01%
State of North Rhine-Westphalia Germany	1,000,000	1.75%	11/7/2068	545,430	0.01%
State of North Rhine-Westphalia Germany	1,900,000	3.40%	7/3/2073	1,652,718	0.02%
State of North Rhine-Westphalia Germany	5,700,000	1.95%	26/9/2078	3,206,653	0.04%
State of North Rhine-Westphalia Germany	1,700,000	2.15%	21/3/2119	940,806	0.01%
State of North Rhine-Westphalia Germany	1,500,000	1.38%	15/1/2120	550,639	0.01%
State of North Rhine-Westphalia Germany	2,150,000	0.95%	10/1/2121	621,241	0.01%
State of North Rhine-Westphalia Germany	1,525,000	1.45%	19/1/2122	587,094	0.01%
State of Rhineland-Palatinate	1,300,000	0.75%	23/2/2032	1,144,295	0.01%
State of Rhineland-Palatinate	3,200,000	3.00%	2/5/2034	3,183,263	0.04%
State of Rhineland-Palatinate	1,500,000	0.38%	1/4/2041	927,299	0.01%
State of Rhineland-Palatinate	430,000	1.50%	25/4/2052	255,179	0.00%
State of Saarland	2,170,000	0.05%	5/11/2040	1,285,885	0.02%
State of Saxony-Anhalt	2,000,000	0.50%	25/6/2027	1,950,490	0.02%
State of Saxony-Anhalt	1,125,000	0.75%	29/1/2029	1,067,380	0.01%
State of Saxony-Anhalt	3,000,000	0.35%	9/2/2032	2,577,526	0.03%
State of Saxony-Anhalt	1,000,000	2.95%	20/6/2033	994,515	0.01%
State of Saxony-Anhalt	800,000	0.50%	24/3/2051	358,206	0.00%
State of Saxony-Anhalt	1,400,000	3.15%	6/2/2054	1,203,723	0.02%
State of Schleswig-Holstein Germany	2,500,000	2.88%	10/5/2028	2,526,577	0.03%
State of Schleswig-Holstein Germany	7,000,000	2.88%	25/6/2029	7,072,089	0.09%
State of Schleswig-Holstein Germany	1,500,000	0.01%	22/5/2030	1,336,222	0.02%
State of Schleswig-Holstein Germany	1,400,000	3.00%	5/6/2030	1,417,593	0.02%
State of Schleswig-Holstein Germany	800,000	2.38%	22/9/2032	771,789	0.01%
State of Schleswig-Holstein Germany	1,300,000	2.88%	30/5/2034	1,276,764	0.02%
State of Schleswig-Holstein Germany	1,000,000	2.88%	20/8/2035	974,644	0.01%
State of Schleswig-Holstein Germany	800,000	0.20%	15/8/2039	508,610	0.01%
Wirtschafts- und Infrastrukturbank Hessen	1,000,000	1.25%	6/9/2033	875,296	0.01%
				1,839,276,930	23.21%
ギリシャ0.95%(2024年12月31日:0.99%)
Hellenic Republic Government Bond	18,729,000	3.88%	15/6/2028	19,416,567	0.24%
Hellenic Republic Government Bond	7,689,000	1.50%	18/6/2030	7,327,619	0.09%
Hellenic Republic Government Bond	5,400,000	0.75%	18/6/2031	4,839,297	0.06%
Hellenic Republic Government Bond	8,956,000	3.90%	30/1/2033	9,381,230	0.12%
Hellenic Republic Government Bond	3,389,000	4.25%	15/6/2033	3,629,462	0.05%
Hellenic Republic Government Bond	3,000,000	1.88%	4/2/2035	2,644,854	0.03%
Hellenic Republic Government Bond	17,587,000	3.63%	15/6/2035	17,840,493	0.23%
Hellenic Republic Government Bond	4,671,000	1.88%	24/1/2052	2,998,604	0.04%
Hellenic Republic Government Bond	7,237,000	4.13%	15/6/2054	7,059,603	0.09%
				75,137,729	0.95%
アイルランド1.30%(2024年12月31日:1.46%)
DAA Finance plc	570,000	1.55%	7/6/2028	554,189	0.01%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
ESB Finance DAC	500,000	4.00%	3/10/2028	515,596	0.01%
ESB Finance DAC	1,700,000	1.13%	11/6/2030	1,568,052	0.02%
ESB Finance DAC	500,000	1.88%	14/6/2031	467,530	0.01%
ESB Finance DAC	500,000	4.00%	3/5/2032	517,397	0.01%
ESB Finance DAC	528,000	1.00%	19/7/2034	430,153	0.01%
ESB Finance DAC	500,000	4.25%	3/3/2036	521,597	0.01%
GAS Networks Ireland	400,000	3.25%	12/9/2030	402,790	0.00%
Ireland Government Bond	9,219,000	0.20%	15/5/2027	8,997,128	0.11%
Ireland Government Bond	6,308,000	0.90%	15/5/2028	6,127,076	0.08%
Ireland Government Bond	19,100,000	1.10%	15/5/2029	18,343,003	0.23%
Ireland Government Bond	13,796,144	0.20%	18/10/2030	12,360,279	0.16%
Ireland Government Bond	7,692,399	0.00%	18/10/2031	6,610,947	0.08%
Ireland Government Bond	9,400,000	0.35%	18/10/2032	8,003,777	0.10%
Ireland Government Bond	6,162,525	2.60%	18/10/2034	5,970,270	0.07%
Ireland Government Bond	8,200,000	0.40%	15/5/2035	6,422,741	0.08%
Ireland Government Bond	4,958,075	1.70%	15/5/2037	4,241,320	0.05%
Ireland Government Bond	4,038,274	0.55%	22/4/2041	2,662,593	0.03%
Ireland Government Bond	2,869,000	3.00%	18/10/2043	2,688,215	0.03%
Ireland Government Bond	5,483,331	2.00%	18/2/2045	4,328,590	0.05%
Ireland Government Bond	15,751,816	1.50%	15/5/2050	10,335,161	0.13%
Permanent TSB Group Holdings plc	1,200,000	4.25%	10/7/2030	1,243,822	0.02%
				103,312,226	1.30%
イタリア19.18%(2024年12月31日:19.22%)
A2A SpA	300,000	1.50%	16/3/2028	294,013	0.00%
A2A SpA	4,300,000	0.63%	15/7/2031	3,731,961	0.05%
A2A SpA	200,000	0.63%	28/10/2032	166,200	0.00%
A2A SpA	1,000,000	4.38%	3/2/2034	1,046,877	0.01%
ACEA SpA	2,860,000	0.25%	28/7/2030	2,535,465	0.03%
AMCO - Asset Management Co. SpA	3,603,000	4.63%	6/2/2027	3,683,088	0.05%
Cassa Depositi e Prestiti SpA	900,000	3.50%	19/9/2027	915,861	0.01%
Cassa Depositi e Prestiti SpA	5,000,000	0.75%	30/6/2029	4,665,703	0.06%
Cassa Depositi e Prestiti SpA	400,000	1.00%	11/2/2030	370,751	0.00%
Cassa Depositi e Prestiti SpA	3,400,000	4.75%	18/10/2030	3,648,731	0.05%
Cassa Depositi e Prestiti SpA	4,000,000	3.38%	11/2/2032	4,030,236	0.05%
Ferrovie dello Stato Italiane SpA	1,000,000	3.75%	14/4/2027	1,014,911	0.01%
Ferrovie dello Stato Italiane SpA	1,500,000	4.13%	23/5/2029	1,557,753	0.02%
Hera SpA	880,000	2.50%	25/5/2029	871,184	0.01%
Hera SpA	885,000	0.25%	3/12/2030	770,980	0.01%
Hera SpA	1,000,000	1.00%	25/4/2034	807,274	0.01%
Italy Buoni Poliennali Del Tesoro	38,531,000	2.95%	15/2/2027	38,873,480	0.49%
Italy Buoni Poliennali Del Tesoro	33,700,000	2.55%	25/2/2027	33,852,037	0.43%
Italy Buoni Poliennali Del Tesoro	15,342,000	1.10%	1/4/2027	15,155,076	0.19%
Italy Buoni Poliennali Del Tesoro	72,413,000	3.45%	15/7/2027	73,786,246	0.93%
Italy Buoni Poliennali Del Tesoro	22,096,000	2.10%	26/8/2027	22,066,614	0.28%
Italy Buoni Poliennali Del Tesoro	5,000,000	0.95%	15/9/2027	4,899,818	0.06%
Italy Buoni Poliennali Del Tesoro	20,700,000	2.70%	15/10/2027	20,867,050	0.26%
Italy Buoni Poliennali Del Tesoro	11,013,000	2.65%	1/12/2027	11,095,455	0.14%
Italy Buoni Poliennali Del Tesoro	27,041,000	0.25%	15/3/2028	25,872,712	0.33%
Italy Buoni Poliennali Del Tesoro	10,399,000	3.40%	1/4/2028	10,638,007	0.13%
Italy Buoni Poliennali Del Tesoro	5,000,000	2.65%	15/6/2028	5,032,681	0.06%
Italy Buoni Poliennali Del Tesoro	26,375,000	0.50%	15/7/2028	25,190,375	0.32%
Italy Buoni Poliennali Del Tesoro	12,899,000	3.80%	1/8/2028	13,352,661	0.17%
Italy Buoni Poliennali Del Tesoro	12,813,000	4.75%	1/9/2028	13,588,315	0.17%
Italy Buoni Poliennali Del Tesoro	30,478,000	2.35%	15/1/2029	30,353,908	0.38%
Italy Buoni Poliennali Del Tesoro	28,094,000	4.10%	1/2/2029	29,408,623	0.37%
Italy Buoni Poliennali Del Tesoro	24,005,000	2.80%	15/6/2029	24,218,934	0.31%
Italy Buoni Poliennali Del Tesoro	61,430,000	3.35%	1/7/2029	63,031,287	0.80%
Italy Buoni Poliennali Del Tesoro	58,419,000	3.00%	1/10/2029	59,224,026	0.75%
Italy Buoni Poliennali Del Tesoro	4,800,000	3.85%	15/12/2029	5,019,189	0.06%
Italy Buoni Poliennali Del Tesoro	34,622,000	3.70%	15/6/2030	36,008,105	0.45%
Italy Buoni Poliennali Del Tesoro	21,000,000	2.95%	1/7/2030	21,185,779	0.27%
Italy Buoni Poliennali Del Tesoro	16,820,000	0.95%	1/8/2030	15,545,682	0.20%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Italy Buoni Poliennali Del Tesoro	20,600,000	2.70%	1/10/2030	20,532,670	0.26%
Italy Buoni Poliennali Del Tesoro	7,800,000	4.00%	15/11/2030	8,220,877	0.10%
Italy Buoni Poliennali Del Tesoro	20,203,000	1.65%	1/12/2030	19,165,983	0.24%
Italy Buoni Poliennali Del Tesoro	11,314,000	3.50%	15/2/2031	11,669,750	0.15%
Italy Buoni Poliennali Del Tesoro	28,766,000	0.90%	1/4/2031	26,047,325	0.33%
Italy Buoni Poliennali Del Tesoro	47,061,000	3.45%	15/7/2031	48,382,908	0.61%
Italy Buoni Poliennali Del Tesoro	8,720,000	0.60%	1/8/2031	7,697,406	0.10%
Italy Buoni Poliennali Del Tesoro	7,000,000	4.00%	30/10/2031	7,410,491	0.09%
Italy Buoni Poliennali Del Tesoro	49,564,000	3.15%	15/11/2031	50,088,995	0.63%
Italy Buoni Poliennali Del Tesoro	21,739,000	0.95%	1/12/2031	19,403,548	0.24%
Italy Buoni Poliennali Del Tesoro	23,465,000	0.95%	1/6/2032	20,655,448	0.26%
Italy Buoni Poliennali Del Tesoro	11,800,000	3.25%	15/7/2032	11,927,207	0.15%
Italy Buoni Poliennali Del Tesoro	12,900,000	3.25%	15/11/2032	12,997,813	0.16%
Italy Buoni Poliennali Del Tesoro	19,840,000	2.50%	1/12/2032	19,097,938	0.24%
Italy Buoni Poliennali Del Tesoro	12,898,000	5.75%	1/2/2033	15,027,214	0.19%
Italy Buoni Poliennali Del Tesoro	8,200,000	4.40%	1/5/2033	8,861,364	0.11%
Italy Buoni Poliennali Del Tesoro	26,457,000	2.45%	1/9/2033	25,136,910	0.32%
Italy Buoni Poliennali Del Tesoro	20,373,000	4.35%	1/11/2033	21,927,857	0.28%
Italy Buoni Poliennali Del Tesoro	26,200,000	4.20%	1/3/2034	27,900,698	0.35%
Italy Buoni Poliennali Del Tesoro	31,359,000	3.85%	1/7/2034	32,563,071	0.41%
Italy Buoni Poliennali Del Tesoro	52,756,000	3.85%	1/2/2035	54,588,457	0.69%
Italy Buoni Poliennali Del Tesoro	2,100,000	4.00%	30/4/2035	2,205,272	0.03%
Italy Buoni Poliennali Del Tesoro	28,519,000	3.65%	1/8/2035	28,944,835	0.37%
Italy Buoni Poliennali Del Tesoro	36,000,000	3.60%	1/10/2035	36,354,234	0.46%
Italy Buoni Poliennali Del Tesoro	6,000,000	3.45%	1/2/2036	5,967,776	0.08%
Italy Buoni Poliennali Del Tesoro	23,973,000	1.45%	1/3/2036	19,770,758	0.25%
Italy Buoni Poliennali Del Tesoro	2,613,000	4.00%	1/2/2037	2,717,772	0.03%
Italy Buoni Poliennali Del Tesoro	2,362,000	0.95%	1/3/2037	1,788,719	0.02%
Italy Buoni Poliennali Del Tesoro	8,976,000	4.05%	30/10/2037	9,305,515	0.12%
Italy Buoni Poliennali Del Tesoro	26,251,000	3.25%	1/3/2038	25,099,720	0.32%
Italy Buoni Poliennali Del Tesoro	9,733,000	2.95%	1/9/2038	8,982,905	0.11%
Italy Buoni Poliennali Del Tesoro	19,502,000	5.00%	1/8/2039	22,010,052	0.28%
Italy Buoni Poliennali Del Tesoro	20,465,000	4.15%	1/10/2039	21,152,506	0.27%
Italy Buoni Poliennali Del Tesoro	16,072,000	5.00%	1/9/2040	18,107,358	0.23%
Italy Buoni Poliennali Del Tesoro	24,836,000	3.85%	1/10/2040	24,680,400	0.31%
Italy Buoni Poliennali Del Tesoro	17,277,000	1.80%	1/3/2041	13,103,501	0.17%
Italy Buoni Poliennali Del Tesoro	24,344,000	4.45%	1/9/2043	25,539,277	0.32%
Italy Buoni Poliennali Del Tesoro	17,279,000	4.75%	1/9/2044	18,848,947	0.24%
Italy Buoni Poliennali Del Tesoro	11,294,000	1.50%	30/4/2045	7,424,824	0.09%
Italy Buoni Poliennali Del Tesoro	9,822,000	4.10%	30/4/2046	9,792,643	0.12%
Italy Buoni Poliennali Del Tesoro	13,672,000	3.25%	1/9/2046	12,010,814	0.15%
Italy Buoni Poliennali Del Tesoro	17,210,000	3.45%	1/3/2048	15,438,703	0.19%
Italy Buoni Poliennali Del Tesoro	22,408,000	3.85%	1/9/2049	21,292,167	0.27%
Italy Buoni Poliennali Del Tesoro	16,229,000	2.45%	1/9/2050	11,840,137	0.15%
Italy Buoni Poliennali Del Tesoro	16,981,000	1.70%	1/9/2051	10,280,791	0.13%
Italy Buoni Poliennali Del Tesoro	10,967,000	2.15%	1/9/2052	7,306,571	0.09%
Italy Buoni Poliennali Del Tesoro	8,917,000	4.50%	1/10/2053	9,140,077	0.12%
Italy Buoni Poliennali Del Tesoro	15,627,000	4.30%	1/10/2054	15,494,096	0.20%
Italy Buoni Poliennali Del Tesoro	5,000,000	4.65%	1/10/2055	5,205,888	0.07%
Italy Buoni Poliennali Del Tesoro	9,053,000	2.80%	1/3/2067	6,441,227	0.08%
Italy Buoni Poliennali Del Tesoro	8,100,000	2.15%	1/3/2072	4,791,903	0.06%
Mediocredito Centrale - Banca Del Mezzogiorno SpA	1,000,000	3.25%	4/3/2030	999,533	0.01%
Region of Lazio Italy	461,305	3.09%	31/3/2043	432,972	0.01%
				1,520,152,871	19.18%
ラトビア 0.11%(2024年12月31日:0.11%)
Latvia Government International Bond	1,149,000	3.88%	25/3/2027	1,171,219	0.02%
Latvia Government International Bond	955,000	3.50%	17/1/2028	974,189	0.01%
Latvia Government International Bond	1,000,000	0.00%	24/1/2029	920,306	0.01%
Latvia Government International Bond	2,100,000	0.00%	17/3/2031	1,792,788	0.02%
Latvia Government International Bond	1,869,000	3.00%	24/1/2032	1,849,369	0.02%
Latvia Government International Bond	1,500,000	3.88%	12/7/2033	1,544,816	0.02%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Latvia Government International Bond	1,000,000	2.25%	15/2/2047	737,854	0.01%
				8,990,541	0.11%
リトアニア0.21%(2024年12月31日:0.17%)
Lithuania Government International Bond	2,000,000	2.13%	1/6/2032	1,869,020	0.02%
Lithuania Government International Bond	1,455,000	3.88%	14/6/2033	1,502,009	0.02%
Lithuania Government International Bond	3,000,000	3.50%	13/2/2034	3,010,677	0.04%
Lithuania Government International Bond	9,482,000	3.63%	10/3/2036	9,351,603	0.12%
Lithuania Government International Bond	1,930,000	0.75%	15/7/2051	832,618	0.01%
				16,565,927	0.21%
ルクセンブルク0.25%(2024年12月31日:0.21%)
Logicor Financing Sarl	600,000	1.63%	15/7/2027	591,150	0.01%
Logicor Financing Sarl	750,000	3.25%	13/11/2028	756,739	0.01%
Logicor Financing Sarl	2,935,000	3.75%	14/7/2032	2,900,492	0.04%
P3 Group Sarl	1,900,000	1.63%	26/1/2029	1,817,544	0.02%
State of the Grand-Duchy of Luxembourg	2,000,000	0.63%	1/2/2027	1,968,691	0.02%
State of the Grand-Duchy of Luxembourg	2,500,000	0.00%	24/3/2031	2,175,312	0.03%
State of the Grand-Duchy of Luxembourg	2,900,000	0.00%	14/9/2032	2,407,880	0.03%
State of the Grand-Duchy of Luxembourg	3,252,000	2.88%	1/3/2034	3,232,898	0.04%
State of the Grand-Duchy of Luxembourg	2,404,000	2.63%	23/10/2034	2,327,591	0.03%
State of the Grand-Duchy of Luxembourg	689,000	1.75%	25/5/2042	528,071	0.01%
State of the Grand-Duchy of Luxembourg	1,359,000	3.25%	2/3/2043	1,281,503	0.01%
				19,987,871	0.25%
オランダ4.81%(2024年12月31日:4.90%)
Alliander NV	600,000	4.50%	Perpetual	619,849	0.01%
Alliander NV	1,000,000	2.63%	9/9/2027	1,001,505	0.01%
Alliander NV	600,000	3.25%	13/6/2028	607,769	0.01%
Alliander NV	1,300,000	3.50%	6/5/2037	1,268,249	0.02%
ASN Bank NV	300,000	4.63%	23/11/2027	309,275	0.00%
ASN Bank NV	3,500,000	4.88%	7/3/2030	3,710,858	0.05%
BNG Bank NV	3,700,000	0.63%	19/6/2027	3,618,671	0.05%
BNG Bank NV	4,000,000	2.75%	4/10/2027	4,035,268	0.05%
BNG Bank NV	7,000,000	0.75%	11/1/2028	6,789,333	0.09%
BNG Bank NV	3,000,000	2.75%	5/4/2029	3,023,614	0.04%
BNG Bank NV	2,644,000	3.00%	23/4/2030	2,682,541	0.03%
BNG Bank NV	2,400,000	2.88%	11/6/2031	2,409,325	0.03%
BNG Bank NV	2,100,000	1.88%	13/7/2032	1,969,746	0.03%
BNG Bank NV	1,000,000	0.01%	5/10/2032	822,120	0.01%
BNG Bank NV	1,000,000	3.00%	11/1/2033	1,000,702	0.01%
BNG Bank NV	1,307,000	3.25%	29/8/2033	1,326,361	0.02%
BNG Bank NV	2,000,000	2.75%	11/1/2034	1,955,336	0.02%
BNG Bank NV	3,500,000	2.75%	28/8/2034	3,397,218	0.04%
BNG Bank NV	4,500,000	2.88%	26/2/2035	4,379,507	0.06%
BNG Bank NV	1,300,000	0.25%	22/11/2036	936,438	0.01%
BNG Bank NV	1,700,000	1.25%	30/3/2037	1,365,327	0.02%
BNG Bank NV	4,500,000	1.50%	29/3/2038	3,619,425	0.05%
BNG Bank NV	1,200,000	3.50%	27/9/2038	1,197,169	0.02%
BNG Bank NV	1,600,000	1.50%	15/7/2039	1,247,727	0.02%
BNG Bank NV	3,000,000	3.38%	2/4/2040	2,907,249	0.04%
EnBW International Finance BV	800,000	3.50%	22/7/2031	815,302	0.01%
EnBW International Finance BV	1,100,000	4.00%	22/7/2036	1,115,591	0.01%
Enexis Holding NV	400,000	0.63%	17/6/2032	338,814	0.00%
Enexis Holding NV	1,600,000	3.63%	9/4/2037	1,576,013	0.02%
Nederlandse Gasunie NV	1,000,000	1.38%	16/10/2028	966,694	0.01%
Nederlandse Gasunie NV	300,000	0.38%	3/10/2031	255,852	0.00%
Nederlandse Gasunie NV	2,900,000	3.88%	22/5/2033	2,975,209	0.04%
Nederlandse Gasunie NV	365,000	3.88%	29/4/2044	352,679	0.00%
Nederlandse Waterschapsbank NV	3,000,000	0.63%	18/1/2027	2,954,121	0.04%
Nederlandse Waterschapsbank NV	5,000,000	2.50%	13/9/2027	5,022,545	0.06%
Nederlandse Waterschapsbank NV	1,400,000	2.75%	9/11/2027	1,412,413	0.02%
Nederlandse Waterschapsbank NV	600,000	0.05%	28/1/2030	541,428	0.01%
Nederlandse Waterschapsbank NV	2,500,000	0.50%	29/4/2030	2,282,871	0.03%
Nederlandse Waterschapsbank NV	5,000,000	2.50%	22/5/2030	4,965,909	0.06%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Nederlandse Waterschapsbank NV	2,210,000	3.00%	5/6/2031	2,230,236	0.03%
Nederlandse Waterschapsbank NV	1,000,000	0.25%	19/1/2032	855,404	0.01%
Nederlandse Waterschapsbank NV	977,000	3.00%	20/4/2033	976,389	0.01%
Nederlandse Waterschapsbank NV	1,800,000	2.63%	10/1/2034	1,741,326	0.02%
Nederlandse Waterschapsbank NV	500,000	0.00%	2/10/2034	379,381	0.01%
Nederlandse Waterschapsbank NV	3,000,000	1.25%	27/5/2036	2,458,981	0.03%
Nederlandse Waterschapsbank NV	1,000,000	0.00%	16/2/2037	689,361	0.01%
Nederlandse Waterschapsbank NV	500,000	1.50%	27/4/2038	401,341	0.01%
Nederlandse Waterschapsbank NV	2,200,000	0.75%	4/10/2041	1,417,884	0.02%
Nederlandse Waterschapsbank NV	1,800,000	0.38%	28/9/2046	903,305	0.01%
Netherlands Government Bond	9,016,371	0.00%	15/1/2027	8,836,028	0.11%
Netherlands Government Bond	18,098,000	0.75%	15/7/2027	17,744,570	0.22%
Netherlands Government Bond	10,000,000	5.50%	15/1/2028	10,659,866	0.13%
Netherlands Government Bond	9,520,000	0.75%	15/7/2028	9,179,544	0.12%
Netherlands Government Bond	22,180,000	0.00%	15/1/2029	20,700,958	0.26%
Netherlands Government Bond	8,810,010	0.25%	15/7/2029	8,183,670	0.10%
Netherlands Government Bond	14,626,000	2.50%	15/1/2030	14,661,779	0.19%
Netherlands Government Bond	10,100,000	0.00%	15/7/2030	9,024,499	0.11%
Netherlands Government Bond	13,907,585	0.00%	15/7/2031	12,055,657	0.15%
Netherlands Government Bond	17,457,000	0.50%	15/7/2032	15,178,906	0.19%
Netherlands Government Bond	6,750,000	2.50%	15/1/2033	6,649,686	0.08%
Netherlands Government Bond	19,200,000	2.50%	15/7/2033	18,816,738	0.24%
Netherlands Government Bond	3,208,000	2.50%	15/7/2034	3,113,156	0.04%
Netherlands Government Bond	15,600,000	2.50%	15/7/2035	14,994,366	0.19%
Netherlands Government Bond	11,067,596	4.00%	15/1/2037	12,001,413	0.15%
Netherlands Government Bond	24,512,426	0.00%	15/1/2038	16,737,857	0.21%
Netherlands Government Bond	22,076,236	3.75%	15/1/2042	23,131,225	0.29%
Netherlands Government Bond	11,727,000	3.25%	15/1/2044	11,464,415	0.14%
Netherlands Government Bond	18,305,000	2.75%	15/1/2047	16,324,956	0.21%
Netherlands Government Bond	16,023,000	0.00%	15/1/2052	6,455,744	0.08%
Netherlands Government Bond	12,206,000	2.00%	15/1/2054	8,836,130	0.11%
Netherlands Government Bond	6,600,000	3.50%	15/1/2056	6,490,817	0.08%
Royal Schiphol Group NV	200,000	1.50%	5/11/2030	186,365	0.00%
Royal Schiphol Group NV	2,373,000	0.88%	8/9/2032	2,040,875	0.03%
Royal Schiphol Group NV	364,000	0.75%	22/4/2033	300,425	0.00%
Stedin Holding NV	500,000	0.50%	14/11/2029	457,157	0.01%
Stedin Holding NV	300,000	2.38%	3/6/2030	292,541	0.00%
Stedin Holding NV	500,000	3.63%	20/6/2031	511,987	0.01%
Stedin Holding NV	1,200,000	3.38%	12/2/2037	1,160,742	0.01%
Tennet Netherlands BV	800,000	0.13%	9/12/2027	766,609	0.01%
Tennet Netherlands BV	1,000,000	1.38%	5/6/2028	975,037	0.01%
Tennet Netherlands BV	700,000	3.88%	28/10/2028	721,111	0.01%
Tennet Netherlands BV	1,700,000	2.13%	17/11/2029	1,667,124	0.02%
Tennet Netherlands BV	700,000	0.88%	3/6/2030	647,269	0.01%
Tennet Netherlands BV	1,000,000	0.50%	9/6/2031	882,730	0.01%
Tennet Netherlands BV	1,000,000	2.38%	17/5/2033	955,969	0.01%
Tennet Netherlands BV	500,000	1.25%	24/10/2033	436,375	0.01%
Tennet Netherlands BV	300,000	4.50%	28/10/2034	321,102	0.00%
Tennet Netherlands BV	2,000,000	0.88%	16/6/2035	1,616,771	0.02%
Tennet Netherlands BV	385,000	0.50%	30/11/2040	246,797	0.00%
Tennet Netherlands BV	1,850,000	1.13%	9/6/2041	1,300,337	0.02%
Tennet Netherlands BV	500,000	4.75%	28/10/2042	536,602	0.01%
				381,095,536	4.81%
ポルトガル1.60%(2024年12月31日:1.62%)
Caixa Geral de Depositos SA	400,000	5.75%	31/10/2028	422,170	0.00%
Portugal Obrigacoes do Tesouro OT	18,651,000	0.70%	15/10/2027	18,213,802	0.23%
Portugal Obrigacoes do Tesouro OT	5,300,000	2.13%	17/10/2028	5,297,545	0.07%
Portugal Obrigacoes do Tesouro OT	10,985,000	1.95%	15/6/2029	10,867,619	0.14%
Portugal Obrigacoes do Tesouro OT	4,300,000	3.88%	15/2/2030	4,547,921	0.06%
Portugal Obrigacoes do Tesouro OT	14,700,000	0.48%	18/10/2030	13,383,729	0.17%
Portugal Obrigacoes do Tesouro OT	7,000,000	0.30%	17/10/2031	6,126,844	0.08%
Portugal Obrigacoes do Tesouro OT	10,761,020	1.65%	16/7/2032	10,042,327	0.13%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Portugal Obrigacoes do Tesouro OT	5,892,000	2.88%	14/10/2033	5,859,751	0.07%
Portugal Obrigacoes do Tesouro OT	10,177,000	2.88%	20/10/2034	10,032,892	0.13%
Portugal Obrigacoes do Tesouro OT	4,850,000	3.00%	15/6/2035	4,793,062	0.06%
Portugal Obrigacoes do Tesouro OT	6,462,103	0.90%	12/10/2035	5,240,965	0.06%
Portugal Obrigacoes do Tesouro OT	5,200,000	4.10%	15/4/2037	5,596,513	0.07%
Portugal Obrigacoes do Tesouro OT	4,746,000	3.50%	18/6/2038	4,775,451	0.06%
Portugal Obrigacoes do Tesouro OT	3,600,000	3.38%	15/6/2040	3,513,366	0.04%
Portugal Obrigacoes do Tesouro OT	9,852,684	1.15%	11/4/2042	6,838,134	0.09%
Portugal Obrigacoes do Tesouro OT	3,000,000	4.10%	15/2/2045	3,143,847	0.04%
Portugal Obrigacoes do Tesouro OT	10,154,000	1.00%	12/4/2052	5,379,892	0.07%
Portugal Obrigacoes do Tesouro OT	2,633,000	3.63%	12/6/2054	2,473,577	0.03%
				126,549,407	1.60%
スロバキア0.63%(2024年12月31日:0.67%)
Slovakia Government Bond	5,000,000	3.00%	7/2/2028	5,072,085	0.06%
Slovakia Government Bond	2,195,000	0.75%	9/4/2030	2,029,144	0.03%
Slovakia Government Bond	5,000,000	3.00%	6/11/2031	5,004,565	0.06%
Slovakia Government Bond	1,300,000	4.00%	19/10/2032	1,369,302	0.02%
Slovakia Government Bond	5,500,000	3.63%	8/6/2033	5,629,444	0.07%
Slovakia Government Bond	8,804,500	3.75%	6/3/2034	9,041,612	0.11%
Slovakia Government Bond	3,234,780	3.75%	23/2/2035	3,290,220	0.04%
Slovakia Government Bond	4,490,000	3.63%	4/11/2037	4,389,943	0.06%
Slovakia Government Bond	7,000,000	3.75%	27/2/2040	6,820,150	0.09%
Slovakia Government Bond	5,211,000	4.00%	23/2/2043	5,114,339	0.06%
Slovakia Government Bond	1,150,000	2.00%	17/10/2047	780,392	0.01%
Slovakia Government Bond	1,529,000	2.25%	12/6/2068	874,356	0.01%
SPP-Distribucia A.S.	700,000	1.00%	9/6/2031	606,867	0.01%
				50,022,419	0.63%
スロベニア0.25%(2024年12月31日:0.34%)
Slovenia Government Bond	1,500,000	1.19%	14/3/2029	1,453,559	0.02%
Slovenia Government Bond	2,140,000	0.28%	14/1/2030	1,970,546	0.02%
Slovenia Government Bond	2,158,000	2.25%	3/3/2032	2,097,387	0.03%
Slovenia Government Bond	3,707,000	3.00%	10/3/2034	3,699,501	0.05%
Slovenia Government Bond	6,500,000	3.13%	2/7/2035	6,417,484	0.08%
Slovenia Government Bond	2,000,000	3.13%	7/8/2045	1,821,651	0.02%
Slovenia Government Bond	2,248,000	3.50%	14/4/2055	2,055,364	0.03%
Slovenia Government Bond	600,000	0.69%	3/3/2081	166,416	0.00%
				19,681,908	0.25%
スペイン12.53%(2024年12月31日:12.41%)
Adif Alta Velocidad	1,000,000	0.95%	30/4/2027	982,555	0.01%
Adif Alta Velocidad	4,000,000	3.25%	31/5/2029	4,060,247	0.05%
Adif Alta Velocidad	2,600,000	3.13%	31/1/2030	2,622,541	0.03%
Adif Alta Velocidad	1,000,000	0.55%	30/4/2030	905,070	0.01%
Adif Alta Velocidad	1,200,000	0.55%	31/10/2031	1,036,801	0.01%
Autonomous Community of Madrid Spain	1,030,000	0.16%	30/7/2028	973,823	0.01%
Autonomous Community of Madrid Spain	2,440,000	3.36%	31/10/2028	2,502,076	0.03%
Autonomous Community of Madrid Spain	2,280,000	3.60%	30/4/2033	2,355,602	0.03%
Autonomous Community of Madrid Spain	2,030,000	3.46%	30/4/2034	2,070,162	0.03%
Autonomous Community of Madrid Spain	3,358,000	3.14%	30/4/2035	3,316,354	0.04%
Basque Government	555,000	0.45%	30/4/2032	476,500	0.01%
Basque Government	950,000	3.50%	30/4/2033	978,890	0.01%
Basque Government	760,000	1.88%	30/7/2033	699,724	0.01%
Basque Government	700,000	3.40%	30/4/2034	710,934	0.01%
Cepsa Finance SA	1,000,000	4.13%	11/4/2031	1,017,317	0.01%
Comunidad Autonoma de Canarias	300,000	0.71%	31/10/2031	262,619	0.00%
Instituto de Credito Oficial	4,538,000	2.70%	31/10/2030	4,539,423	0.06%
Junta de Andalucia	2,700,000	0.50%	30/4/2031	2,383,669	0.03%
Junta de Andalucia	4,000,000	3.30%	30/4/2035	3,970,072	0.05%
Junta de Castilla y Leon	1,000,000	0.43%	30/4/2030	906,207	0.01%
Spain Government Bond	19,983,000	0.00%	31/1/2027	19,539,676	0.25%
Spain Government Bond	42,533,000	2.50%	31/5/2027	42,731,541	0.54%
Spain Government Bond	34,138,000	0.80%	30/7/2027	33,450,493	0.42%
Spain Government Bond	36,715,000	0.00%	31/1/2028	35,111,797	0.44%

	額面価格(単位:ユーロ)	表面利率	満期日	公正価値(単位:ユーロ)	純資産構成比
Spain Government Bond	26,078,000	1.40%	30/4/2028	25,606,067	0.32%
Spain Government Bond	36,817,000	2.40%	31/5/2028	36,924,287	0.47%
Spain Government Bond	28,117,000	1.40%	30/7/2028	27,513,119	0.35%
Spain Government Bond	12,877,000	5.15%	31/10/2028	13,868,025	0.18%
Spain Government Bond	18,151,000	1.45%	30/4/2029	17,615,959	0.22%
Spain Government Bond	29,900,000	3.50%	31/5/2029	30,937,777	0.39%
Spain Government Bond	51,055,000	0.80%	30/7/2029	48,183,428	0.61%
Spain Government Bond	12,060,000	0.60%	31/10/2029	11,242,246	0.14%
Spain Government Bond	18,700,000	2.70%	31/1/2030	18,810,072	0.24%
Spain Government Bond	9,900,000	0.50%	30/4/2030	9,070,189	0.11%
Spain Government Bond	2,000,000	1.95%	30/7/2030	1,946,437	0.02%
Spain Government Bond	27,917,000	1.25%	31/10/2030	26,169,225	0.33%
Spain Government Bond	35,618,000	0.10%	30/4/2031	31,062,662	0.39%
Spain Government Bond	35,600,000	3.10%	30/7/2031	36,224,270	0.46%
Spain Government Bond	35,325,000	0.50%	31/10/2031	31,056,042	0.39%
Spain Government Bond	29,109,000	0.70%	30/4/2032	25,537,083	0.32%
Spain Government Bond	4,446,000	5.75%	30/7/2032	5,209,563	0.07%
Spain Government Bond	17,351,000	2.55%	31/10/2032	16,963,934	0.21%
Spain Government Bond	28,636,000	3.15%	30/4/2033	28,922,401	0.37%
Spain Government Bond	31,198,000	3.55%	31/10/2033	32,248,369	0.41%
Spain Government Bond	26,567,000	3.25%	30/4/2034	26,786,632	0.34%
Spain Government Bond	21,875,000	3.45%	31/10/2034	22,316,306	0.28%
Spain Government Bond	25,400,000	3.15%	30/4/2035	25,221,813	0.32%
Spain Government Bond	9,688,000	1.85%	30/7/2035	8,588,774	0.11%
Spain Government Bond	34,900,000	3.20%	31/10/2035	34,656,759	0.44%
Spain Government Bond	12,839,000	4.20%	31/1/2037	13,768,739	0.17%
Spain Government Bond	15,688,000	0.85%	30/7/2037	11,799,003	0.15%
Spain Government Bond	21,990,000	3.90%	30/7/2039	22,652,016	0.29%
Spain Government Bond	12,467,000	4.90%	30/7/2040	14,189,485	0.18%
Spain Government Bond	20,204,000	1.20%	31/10/2040	14,528,463	0.18%
Spain Government Bond	8,066,000	3.50%	31/1/2041	7,855,924	0.10%
Spain Government Bond	12,788,000	4.70%	30/7/2041	14,264,273	0.18%
Spain Government Bond	12,083,000	1.00%	30/7/2042	8,005,060	0.10%
Spain Government Bond	25,664,000	3.45%	30/7/2043	24,443,018	0.31%
Spain Government Bond	14,553,000	5.15%	31/10/2044	17,123,059	0.22%
Spain Government Bond	10,687,000	2.90%	31/10/2046	9,200,572	0.12%
Spain Government Bond	20,786,000	2.70%	31/10/2048	16,965,074	0.21%
Spain Government Bond	18,758,000	1.00%	31/10/2050	10,022,466	0.13%
Spain Government Bond	16,897,000	1.90%	31/10/2052	11,042,485	0.14%
Spain Government Bond	21,210,000	4.00%	31/10/2054	20,800,235	0.26%
Spain Government Bond	9,570,000	3.45%	30/7/2066	8,188,471	0.10%
Spain Government Bond	12,475,000	1.45%	31/10/2071	5,635,147	0.07%
Xunta de Galicia	1,000,000	3.71%	30/7/2029	1,034,978	0.01%
Xunta de Galicia	1,400,000	3.30%	30/4/2031	1,429,672	0.02%
				993,233,672	12.53%
固定利付証券合計				7,833,409,947	98.86%
譲渡可能有価証券合計				7,833,409,947	98.86%

通貨	買金額	通貨	(売) 金額	契約先	決済日		未実現利益(損失)(単位:ユーロ)	純資産構成比
店頭取引デリバティブ金融商品0.06%(2024年12月31日:0.05%)
先渡為替契約 0.00%(2024年12月31日:(0.00%))
EUR	29,713	CHF	(27,591)	Toronto-Dominion Bank	5/1/2026		60	0.00%
							60	0.00%

通貨	買金額	通貨	(売) 金額	契約先	決済日		未実現利益(損失)(単位:ユーロ)	純資産構成比
ヘッジ付証券クラスレベルの先渡為替契約0.06%(2024年12月31日:0.05%)
GBP	669,283,693	EUR	(762,932,950)	Barclays Bank plc	5/1/2026		3,570,166	0.05%
GBP	175,333,170	EUR	(199,820,355)	State Street Bank & Trust Co.	5/1/2026		981,521	0.01%
EUR	741,446,254	GBP	(647,000,830)	Toronto-Dominion Bank	5/1/2026		462,786	0.01%
GBP	806,376	EUR	(919,745)	State Street Bank & Trust Co.	5/1/2026		3,765	0.00%
EUR	208,498,472	GBP	(182,050,441)	State Street Bank & Trust Co.	5/1/2026		3,582	0.00%
CHF	16,317,246	EUR	(17,565,390)	Toronto-Dominion Bank	3/2/2026		3,537	0.00%
GBP	374,774	EUR	(425,874)	HSBC Bank	5/1/2026		3,339	0.00%
GBP	323,482	EUR	(367,967)	Toronto-Dominion Bank	5/1/2026		2,504	0.00%
GBP	1,761,648	EUR	(2,015,055)	Toronto-Dominion Bank	5/1/2026		2,488	0.00%
GBP	300,439	EUR	(342,383)	State Street Bank & Trust Co.	5/1/2026		1,698	0.00%
GBP	236,444	EUR	(269,275)	HSBC Bank	5/1/2026		1,515	0.00%
GBP	279,477	EUR	(318,657)	State Street Bank & Trust Co.	5/1/2026		1,417	0.00%
GBP	424,462	EUR	(485,177)	State Street Bank & Trust Co.	5/1/2026		942	0.00%
GBP	388,137	EUR	(443,838)	State Street Bank & Trust Co.	5/1/2026		680	0.00%
GBP	160,461	EUR	(183,146)	Toronto-Dominion Bank	5/1/2026		624	0.00%
GBP	118,981	EUR	(135,787)	State Street Bank & Trust Co.	5/1/2026		477	0.00%
GBP	397,044	EUR	(454,479)	State Street Bank & Trust Co.	5/1/2026		239	0.00%
EUR	3,581,753	GBP	(3,131,971)	State Street Bank & Trust Co.	3/2/2026		57	0.00%
EUR	59,498	CHF	(55,320)	State Street Bank & Trust Co.	6/1/2026		39	0.00%
CHF	3,312	EUR	(3,533)	State Street Bank & Trust Co.	6/1/2026		27	0.00%
CHF	2,470	EUR	(2,636)	State Street Bank & Trust Co.	6/1/2026		18	0.00%
CHF	1,651	EUR	(1,770)	Toronto-Dominion Bank	6/1/2026		5	0.00%
CHF	828	EUR	(886)	Toronto-Dominion Bank	6/1/2026		4	0.00%
CHF	1,665	EUR	(1,787)	State Street Bank & Trust Co.	6/1/2026		2	0.00%
CHF	645	EUR	(691)	Toronto-Dominion Bank	6/1/2026		2	0.00%
CHF	458	EUR	(490)	Toronto-Dominion Bank	6/1/2026		2	0.00%
EUR	1,592	CHF	(1,480)	State Street Bank & Trust Co.	6/1/2026		1	0.00%
CHF	456	EUR	(490)	Toronto-Dominion Bank	6/1/2026		1	0.00%
EUR	394	CHF	(367)	State Street Bank & Trust Co.	6/1/2026		—	0.00%
EUR	2,258	CHF	(2,107)	Toronto-Dominion Bank	6/1/2026		(6)	(0.00%)
EUR	5,306	CHF	(4,950)	State Street Bank & Trust Co.	6/1/2026		(15)	(0.00%)
EUR	154,005	CHF	(143,069)	State Street Bank & Trust Co.	3/2/2026		(38)	(0.00%)
CHF	27,591	EUR	(29,716)	Toronto-Dominion Bank	6/1/2026		(61)	(0.00%)
EUR	65,731	CHF	(61,218)	State Street Bank & Trust Co.	6/1/2026		(67)	(0.00%)
EUR	11,851	GBP	(10,419)	Toronto-Dominion Bank	5/1/2026		(81)	(0.00%)
EUR	66,260	CHF	(61,741)	State Street Bank & Trust Co.	6/1/2026		(100)	(0.00%)
GBP	335,523	EUR	(384,427)	JPMorgan Chase Bank	5/1/2026		(167)	(0.00%)
EUR	247,726	CHF	(230,839)	Toronto-Dominion Bank	6/1/2026		(382)	(0.00%)
EUR	214,879	GBP	(188,277)	Toronto-Dominion Bank	5/1/2026		(747)	(0.00%)

通貨	買金額	通貨	(売) 金額	契約先	決済日		未実現利益 (損失) (単位:ユーロ)	純資産構成比
EUR	202,072	CHF	(188,943)	Toronto-Dominion Bank	6/1/2026		(1,005)	(0.00%)
GBP	782,019	EUR	(896,792)	Toronto-Dominion Bank	5/1/2026		(1,178)	(0.00%)
EUR	17,535,998	CHF	(16,317,246)	Toronto-Dominion Bank	6/1/2026		(1,885)	(0.00%)
EUR	477,400	GBP	(418,916)	State Street Bank & Trust Co.	5/1/2026		(2,367)	(0.00%)
EUR	953,728	GBP	(835,278)	State Street Bank & Trust Co.	5/1/2026		(2,881)	(0.00%)
EUR	1,831,815	GBP	(1,603,197)	Toronto-Dominion Bank	5/1/2026		(4,261)	(0.00%)
EUR	851,269	GBP	(747,646)	State Street Bank & Trust Co.	5/1/2026		(4,979)	(0.00%)
GBP	182,050,441	EUR	(208,208,271)	State Street Bank & Trust Co.	3/2/2026		(16,906)	(0.00%)
CHF	16,885,135	EUR	(18,168,676)	Toronto-Dominion Bank	6/1/2026		(20,422)	(0.00%)
EUR	17,198,469	GBP	(15,036,553)	Toronto-Dominion Bank	5/1/2026		(22,277)	(0.00%)
EUR	3,877,324	GBP	(3,414,573)	State Street Bank & Trust Co.	5/1/2026		(33,246)	(0.00%)
GBP	647,000,830	EUR	(740,400,926)	Toronto-Dominion Bank	3/2/2026		(496,176)	(0.01%)
						4,432,191		0.06%
店頭取引デリバティブ金融商品合計						4,432,251		0.06%
投資合計						7,837,842,198		98.92%

	公正価値(単位:ユーロ)	純資産構成比
その他資産および負債	86,193,900	1.08%
純資産	7,924,036,098	100.00%

貸借対照表

	単位:ユーロ 2025年12月31日現在
流動資産
純損益を通じて公正価値で評価する金融資産:
譲渡可能有価証券	7,833,409,947
デリバティブ金融商品	5,041,498
現金	29,651,885
直物為替契約にかかる未実現利益	1,365
未収金:
利息および配当金	85,524,191
資本証券発行未収金	13,714,831
売却投資有価証券未収金	—
流動資産合計	7,967,343,717
流動負債
純損益を通じて公正価値で評価する金融負債:
デリバティブ金融商品	609,247
当座借越	25
直物為替契約にかかる未実現損失	—
未払金およびその他負債:
投資有価証券購入未払金	35,949,252
資本証券償還未払金	6,129,927
ブローカーからの預かり証拠金	11
未払管理報酬	619,157
流動負債合計	43,307,619
償還可能参加資本証券保有者に帰属する純資産(「純資産」)	7,924,036,098