GUINNESS ATKINSON RENMINBI YUAN & BOND FUND
Schedule of Investments
at March 31, 2024 (Unaudited)
| Principal
Amount (CNH) | Corporate Bonds: 76.9% | Value | ||||||
| Commercial Banks: 50.1% | ||||||||
| 1,000,000 | Bank of China, 3.080%, 04/28/26 | 138,065 | ||||||
| 4,000,000 | First Abu Dhabi Bank, 3.400%, 08/18/25 | 552,259 | ||||||
| 1,000,000 | QNB Finance Ltd., 3.800%, 06/17/25 | 138,609 | ||||||
| 1,000,000 | QNB Finance Ltd., 3.900%, 06/17/25 | 138,091 | ||||||
| 4,000,000 | Shanghai Pud 0.000%, 04/22/24 | 549,870 | ||||||
| 2,000,000 | Standard Chartered PLC 4.350%, 03/18/26 | 278,655 | ||||||
| 1,795,549 | ||||||||
| Diversified Banks: 3.9% | ||||||||
| 1,000,000 | HSBC Holding, 3.400%, 06/29/27 | 138,325 | ||||||
| Export/Import Bank: 11.6% | ||||||||
| 1,000,000 | Agriculture Development Bank of China 3.400%, 11/06/24 | 138,267 | ||||||
| 1,000,000 | China Development Bank, 3.230%, 11/27/25 | 138,968 | ||||||
| 1,000,000 | European International Bank, 2.700%, 04/22/24 | 137,690 | ||||||
| 414,925 | ||||||||
| Municipal City: 3.8% | ||||||||
| 1,000,000 | Municipality of Shenzhen China, 2.900%, 10/19/26 | 137,687 | ||||||
| Real Estate Operator/Developer: 3.8% | ||||||||
| 1,000,000 | Sun Hung Kai Properties 3.200%, 08/14/27 | 137,000 | ||||||
| Storage/Warehousing: 3.7% | ||||||||
| 1,000,000 | GLP China Holding Ltd., 4.000%, 07/02/24 | 133,464 | ||||||
| Total Corporate Bonds | 2,756,950 | |||||||
| (cost $2,963,885) | ||||||||
| Total Investments in Securities | 2,756,950 | |||||||
| (cost $2,963,885): 76.9% | ||||||||
| China Yuan (Offshore): 23.2% | 829,880 | |||||||
| Liabilities less Other Assets: -0.1% | (4,525 | ) | ||||||
| Net Assets: 100.0% | $ | 3,582,305 | ||||||
CNH - The official currency of the People’s Republic of China.