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          <maturityDt>2035-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF TURKIYE</name>
        <lei>5493000PCHOG3B6S3Q85</lei>
        <title>Turkiye Government International Bond</title>
        <cusip>M88269UU3</cusip>
        <identifiers>
          <isin value="XS3123715297"/>
          <ticker value="BVN3XS1"/>
        </identifiers>
        <balance>1700000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>2092110.36</valUSD>
        <pctVal>2.7843021695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASIAN DEVELOPMENT BANK</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
        <cusip>Y000A9HC9</cusip>
        <identifiers>
          <isin value="XS1496739464"/>
          <ticker value="BYVQYB3"/>
        </identifiers>
        <balance>132000000</balance>
        <units>PA</units>
        <currencyConditional curCd="INR" exchangeRt="91.9875"/>
        <valUSD>1433628.70</valUSD>
        <pctVal>1.9079564711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-SUPRA" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AKER ASA</name>
        <lei>5967007LIEEXZXJ10071</lei>
        <title>Aker A.S.A.</title>
        <cusip>R0112HAQ1</cusip>
        <identifiers>
          <isin value="NO0012708801"/>
          <ticker value="AKERNO"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6305"/>
        <valUSD>529834.90</valUSD>
        <pctVal>0.7051351065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.2750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN DOLLARS  /</name>
        <lei>N/A</lei>
        <title>CANADIAN DOLLARS  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="CAD"/>
        </identifiers>
        <balance>49650</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="CAD" exchangeRt="1.3617"/>
        <valUSD>36461.78</valUSD>
        <pctVal>0.0485254579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWISS FRANC  /</name>
        <lei>N/A</lei>
        <title>SWISS FRANC  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="CHF"/>
        </identifiers>
        <balance>17656.25</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="CHF" exchangeRt="0.7731"/>
        <valUSD>22838.25</valUSD>
        <pctVal>0.0303944716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHILEAN PESOS  /</name>
        <lei>N/A</lei>
        <title>CHILEAN PESOS  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="CLP$"/>
        </identifiers>
        <balance>262656000</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="CLP" exchangeRt="873.83"/>
        <valUSD>300580.20</valUSD>
        <pctVal>0.4000296155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO CURRENCY  /</name>
        <lei>N/A</lei>
        <title>EURO CURRENCY  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="EUR"/>
        </identifiers>
        <balance>132058.36</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>156541.44</valUSD>
        <pctVal>0.2083344547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hycroft Mining Holding Corp</name>
        <lei>N/A</lei>
        <title>Hycroft Mining Holding Corp. - Class A</title>
        <cusip>44862P208</cusip>
        <identifiers>
          <isin value="US44862P2083"/>
          <ticker value="HYMC"/>
        </identifiers>
        <balance>118</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4407.30</valUSD>
        <pctVal>0.0058654912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IDR SPOT FORWARD CONTRACT   /</name>
        <lei>N/A</lei>
        <title>IDR SPOT FORWARD CONTRACT   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="IDR FWD"/>
        </identifiers>
        <balance>25223033333</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="IDR" exchangeRt="16785"/>
        <valUSD>1502712.74</valUSD>
        <pctVal>1.9998975303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEXICAN PESO  /</name>
        <lei>N/A</lei>
        <title>MEXICAN PESO  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="MXN"/>
        </identifiers>
        <balance>3355430.91</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="MXN" exchangeRt="17.4760"/>
        <valUSD>192002.23</valUSD>
        <pctVal>0.2555277369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MALAYSIAN RINGGIT  /</name>
        <lei>N/A</lei>
        <title>MALAYSIAN RINGGIT  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="MYR"/>
        </identifiers>
        <balance>206281.19</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="MYR" exchangeRt="3.9420"/>
        <valUSD>52329.07</valUSD>
        <pctVal>0.0696425704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORWEGIAN KRONE  /</name>
        <lei>N/A</lei>
        <title>NORWEGIAN KRONE  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="NOK$"/>
        </identifiers>
        <balance>1419442.75</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="NOK" exchangeRt="9.6305"/>
        <valUSD>147390.35</valUSD>
        <pctVal>0.1961556518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ZEALAND DOLLAR  /</name>
        <lei>N/A</lei>
        <title>NEW ZEALAND DOLLAR  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="NZD"/>
        </identifiers>
        <balance>72644.25</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="NZD" exchangeRt="1.6609"/>
        <valUSD>43737.88</valUSD>
        <pctVal>0.0582089150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POLISH ZLOTY  /</name>
        <lei>N/A</lei>
        <title>POLISH ZLOTY  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="PLN"/>
        </identifiers>
        <balance>15000</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="PLN" exchangeRt="3.5530"/>
        <valUSD>4221.78</valUSD>
        <pctVal>0.0056185904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIME PETROLEUM HOLD ZERO COUPON 12.31.99   /</name>
        <lei>N/A</lei>
        <title>LIME PETROLEUM HOLD ZERO COUPON 12.31.99   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="R4S26VAD"/>
        </identifiers>
        <balance>295577</balance>
        <units>PA</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6305"/>
        <valUSD>30691.76</valUSD>
        <pctVal>0.0408463796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2099-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIME PETROLEUM HOLD ZERO COUPON 12.31.99   /</name>
        <lei>N/A</lei>
        <title>LIME PETROLEUM HOLD ZERO COUPON 12.31.99   /</title>
        <cusip>R4S26VAE4</cusip>
        <identifiers>
          <isin value="NO0013712463"/>
          <ticker value="LIMPET"/>
        </identifiers>
        <balance>210246</balance>
        <units>PA</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6305"/>
        <valUSD>21831.27</valUSD>
        <pctVal>0.0290543241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2099-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORCE BIDCO A/S</name>
        <lei>9845007BA4ZD9CCR8846</lei>
        <title>Force Bidco A/S</title>
        <cusip>K36017AB5</cusip>
        <identifiers>
          <isin value="SE0024321491"/>
          <ticker value="YQ756168"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>1192146.75</valUSD>
        <pctVal>1.5865782445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.5310</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIME PETROLEUM AS</name>
        <lei>636700HIMIHAGF2I8035</lei>
        <title>Lime Petroleum A.S.</title>
        <cusip>R4S26VAA2</cusip>
        <identifiers>
          <isin value="NO0013276410"/>
          <ticker value="YW171386"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6305"/>
        <valUSD>578645.35</valUSD>
        <pctVal>0.7700948928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.38</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENTOO MEDIA PLC</name>
        <lei>213800UCC6GA967UCS06</lei>
        <title>Gentoo Media PLC</title>
        <cusip>X3R8C1AF3</cusip>
        <identifiers>
          <isin value="NO0013095687"/>
          <ticker value="GIGNO"/>
        </identifiers>
        <balance>9000000</balance>
        <units>PA</units>
        <currencyConditional curCd="SEK" exchangeRt="8.9075"/>
        <valUSD>1023014.31</valUSD>
        <pctVal>1.3614869546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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          <isin value="XS2564365661"/>
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        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
        <cusip>U4586HNG4</cusip>
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          <isin value="XS2431032403"/>
          <ticker value="0DCR8P1"/>
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        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-21</maturityDt>
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      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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          <isin value="XS2574878901"/>
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        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-17</maturityDt>
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          <annualizedRt>6</annualizedRt>
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      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
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        <title>European Investment Bank</title>
        <cusip>999999999</cusip>
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          <isin value="EU000A3K4EE4"/>
          <ticker value="EIB"/>
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        <balance>285000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>XX</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASIAN DEVELOPMENT BANK</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
        <cusip>Y002MNDW1</cusip>
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          <isin value="XS2577572428"/>
          <ticker value="ASIA"/>
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        <balance>7000000000</balance>
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        <currencyConditional curCd="COP" exchangeRt="3696.89"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-SUPRA" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-26</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HAWK INFINITY SOFTWARE</name>
        <lei>549300B1TJBVGILMBQ39</lei>
        <title>Hawk Infinity Software A.S.</title>
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          <isin value="NO0013023226"/>
          <ticker value="3V9FLG3"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-03</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OSLO KOMMUNE</name>
        <lei>5967007LIEEXZXGVU850</lei>
        <title>City of Oslo Norway</title>
        <cusip>R6933ZBA9</cusip>
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          <isin value="NO0010907033"/>
          <ticker value="5X4XQF8"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.32</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NEWCREST FINANCE PTY LTD</name>
        <lei>549300I0XDZ4K7PDSS04</lei>
        <title>Newcrest Finance Pty Ltd.</title>
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          <isin value="US65120FAB04"/>
          <ticker value="65120FAB"/>
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        <curCd>USD</curCd>
        <valUSD>1021181</valUSD>
        <pctVal>1.3590470790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SWEDISH KRONA  /</name>
        <lei>N/A</lei>
        <title>SWEDISH KRONA  /</title>
        <cusip>999999999</cusip>
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        <balance>871982.43</balance>
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        <assetCat>STIV</assetCat>
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        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>SINGAPORE DOLLAR  /</name>
        <lei>N/A</lei>
        <title>SINGAPORE DOLLAR  /</title>
        <cusip>999999999</cusip>
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          <ticker value="SGD"/>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Federated Hermes Treasury Obli</name>
        <lei>254900WUIGYHOH89FC60</lei>
        <title>Federated Hermes Treasury Obligations Fund - Class Institutional</title>
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          <isin value="US60934N5005"/>
          <ticker value="TOIXX"/>
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        <curCd>USD</curCd>
        <valUSD>6417263.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DUETT SOFTWARE GROUP AS</name>
        <lei>9845007554C7945DAC83</lei>
        <title>Duett Software Group A.S.</title>
        <cusip>R1R1C7AB5</cusip>
        <identifiers>
          <isin value="NO0013601252"/>
          <ticker value="YN653753"/>
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        <currencyConditional curCd="NOK" exchangeRt="9.6305"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAMARA ASSET GROUP PLC</name>
        <lei>5299009Q1YLGBNUECY13</lei>
        <title>SAMARA ASSET GROUP PLC</title>
        <cusip>X174APAA8</cusip>
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          <isin value="NO0013364398"/>
          <ticker value="SAMRAA"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AX INV1 HOLDING AS</name>
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          <isin value="NO0013469965"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AIRX GROUP HOLDINGS</name>
        <lei>984500N710D2A3DVT591</lei>
        <title>Airx Group Holdings Ltd.</title>
        <cusip>X0S0AWAA0</cusip>
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          <isin value="NO0013646968"/>
          <ticker value="9SDV483"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LIME PETROLEUM</name>
        <lei>636700HIMIHAGF2I8035</lei>
        <title>Lime Petroleum Holding A.S.</title>
        <cusip>R4S26VAC8</cusip>
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          <ticker value="9SXGS64"/>
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        <balance>8000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTL FINANCE CORP</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>International Finance Corp.</title>
        <cusip>U4R843WV0</cusip>
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          <isin value="XS2177447179"/>
          <ticker value="BMHKNK7"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>VOLKSWAGEN INTL FIN NV</name>
        <lei>5299004PWNHKYTR23649</lei>
        <title>Volkswagen International Finance N.V.</title>
        <cusip>N93695TE9</cusip>
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          <ticker value="BMTCWT3"/>
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        <balance>1300000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>1533627.07</valUSD>
        <pctVal>2.0410401190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARGENTINE PESO  /</name>
        <lei>N/A</lei>
        <title>ARGENTINE PESO  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="ARS$"/>
        </identifiers>
        <balance>762981826.28</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="ARS" exchangeRt="1446.8750"/>
        <valUSD>527330.85</valUSD>
        <pctVal>0.7018025711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUSTRALIAN DOLLAR  /</name>
        <lei>N/A</lei>
        <title>AUSTRALIAN DOLLAR  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="AUD$"/>
        </identifiers>
        <balance>59062.50</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="AUD" exchangeRt="1.4361"/>
        <valUSD>41127.01</valUSD>
        <pctVal>0.0547342174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FED REPUBLIC OF BRAZIL</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Brazilian Government International Bond</title>
        <cusip>105756BN9</cusip>
        <identifiers>
          <isin value="US105756BN96"/>
          <ticker value="B1RB7L2"/>
        </identifiers>
        <balance>6000000</balance>
        <units>PA</units>
        <currencyConditional curCd="BRL" exchangeRt="5.2628"/>
        <valUSD>1141844.65</valUSD>
        <pctVal>1.5196332837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF COLOMBIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia Government International Bond</title>
        <cusip>P3772NBA9</cusip>
        <identifiers>
          <isin value="XS0306322065"/>
          <ticker value="B1YXLB9"/>
        </identifiers>
        <balance>11300000000</balance>
        <units>PA</units>
        <currencyConditional curCd="COP" exchangeRt="3696.89"/>
        <valUSD>2986039.73</valUSD>
        <pctVal>3.9739953768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.85</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF PHILIPPINES</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>Philippine Government International Bond</title>
        <cusip>718286BM8</cusip>
        <identifiers>
          <isin value="US718286BM88"/>
          <ticker value="B3LJ4G0"/>
        </identifiers>
        <balance>165000000</balance>
        <units>PA</units>
        <currencyConditional curCd="PHP" exchangeRt="58.8805"/>
        <valUSD>2783799.31</valUSD>
        <pctVal>3.7048420611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEX BONOS DESARR FIX RT</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Bonos</title>
        <cusip>P9767HEK1</cusip>
        <identifiers>
          <isin value="MX0MGO0000P2"/>
          <ticker value="B6TC406"/>
        </identifiers>
        <balance>19000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MXN" exchangeRt="17.4760"/>
        <valUSD>1062105</valUSD>
        <pctVal>1.4135111189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINGAPORE GOVERNMENT</name>
        <lei>549300ZSV6VOGFH1ER70</lei>
        <title>Singapore Government Bond</title>
        <cusip>V81778CZ9</cusip>
        <identifiers>
          <isin value="SG3261987691"/>
          <ticker value="B9L2YV6"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2721"/>
        <valUSD>1298011.16</valUSD>
        <pctVal>1.7274687597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.3750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SINGAPORE GOVERNMENT</name>
        <lei>549300ZSV6VOGFH1ER70</lei>
        <title>Singapore Government Bond</title>
        <cusip>V81778GB8</cusip>
        <identifiers>
          <isin value="SG31A8000003"/>
          <ticker value="BD1RKM2"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2721"/>
        <valUSD>1576133.95</valUSD>
        <pctVal>2.0976107476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.1250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOTALENERGIES SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TotalEnergies S.E.</title>
        <cusip>F92124BM1</cusip>
        <identifiers>
          <isin value="XS1501166869"/>
          <ticker value="BD73JC7"/>
        </identifiers>
        <balance>1200000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>1426623.04</valUSD>
        <pctVal>1.8986329313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2171-10-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.3690</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTL FINANCE CORP</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>International Finance Corp.</title>
        <cusip>U4R843GQ9</cusip>
        <identifiers>
          <isin value="XS1774694597"/>
          <ticker value="BDRTCZ9"/>
        </identifiers>
        <balance>70000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MXN" exchangeRt="17.4760"/>
        <valUSD>1340290.11</valUSD>
        <pctVal>1.7837360458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-SUPRA" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-22</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOUSING &amp;DEVELOPMENT BRD</name>
        <lei>254900QGEU61YJ8GAO70</lei>
        <title>Housing &amp; Development Board</title>
        <cusip>Y31714AV3</cusip>
        <identifiers>
          <isin value="SG7LH6000009"/>
          <ticker value="BF5DPN6"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2721"/>
        <valUSD>795448.47</valUSD>
        <pctVal>1.0586290968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-Non U.S. Govt Agency" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.32</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
        <cusip>G93882S36</cusip>
        <identifiers>
          <isin value="XS1888179550"/>
          <ticker value="BGPQZH6"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>1217355.38</valUSD>
        <pctVal>1.6201273558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2078-10-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.20</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF PERU</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Peruvian Government International Bond</title>
        <cusip>P78024AE9</cusip>
        <identifiers>
          <isin value="USP78024AE96"/>
          <ticker value="BH436F0"/>
        </identifiers>
        <balance>5400000</balance>
        <units>PA</units>
        <currencyConditional curCd="PEN" exchangeRt="3.3696"/>
        <valUSD>1685865.38</valUSD>
        <pctVal>2.2436477180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.94</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOMINICAN REPUBLIC</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic International Bond</title>
        <cusip>P3579ECD7</cusip>
        <identifiers>
          <isin value="USP3579ECD78"/>
          <ticker value="BJ0LZH7"/>
        </identifiers>
        <balance>37000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DOP" exchangeRt="62.75"/>
        <valUSD>592291.87</valUSD>
        <pctVal>0.7882564754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP CAPITAL MARKETS PLC</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP Capital Markets PLC</title>
        <cusip>G1279ML95</cusip>
        <identifiers>
          <isin value="XS2193661324"/>
          <ticker value="BL57NX6"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8436"/>
        <valUSD>1185844</valUSD>
        <pctVal>1.5781901782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2169-06-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QUEENSLAND TREASURY CORP</name>
        <lei>98INKCEEHOU5YJS0HQ88</lei>
        <title>Queensland Treasury Corp.</title>
        <cusip>Q7943QD89</cusip>
        <identifiers>
          <isin value="AU0000079402"/>
          <ticker value="BLNVDM9"/>
        </identifiers>
        <balance>2250000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.4361"/>
        <valUSD>1197743.89</valUSD>
        <pctVal>1.5940272441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-Non US Reg. Govt" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEX BONOS DESARR FIX RT</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Bonos</title>
        <cusip>P4R07XEY8</cusip>
        <identifiers>
          <isin value="MX0MGO0000U2"/>
          <ticker value="BLT1SS4"/>
        </identifiers>
        <balance>45000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MXN" exchangeRt="17.4760"/>
        <valUSD>2432441.06</valUSD>
        <pctVal>3.2372340628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BONCER</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Argentina Treasury Bond BONCER</title>
        <cusip>P8S090UL8</cusip>
        <identifiers>
          <isin value="ARARGE3209W8"/>
          <ticker value="BMC3884"/>
        </identifiers>
        <balance>19200000</balance>
        <units>PA</units>
        <currencyConditional curCd="ARS" exchangeRt="1446.8750"/>
        <valUSD>157846.39</valUSD>
        <pctVal>0.2100711581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
        <cusip>Y2R35QHH7</cusip>
        <identifiers>
          <isin value="MYBMO2000028"/>
          <ticker value="BMD9C89"/>
        </identifiers>
        <balance>10000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MYR" exchangeRt="3.9420"/>
        <valUSD>2450530.19</valUSD>
        <pctVal>3.2613081293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.6320</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUROPEAN BK RECON &amp; DEV</name>
        <lei>549300HTGDOVDU6OGK19</lei>
        <title>European Bank for Reconstruction &amp; Development</title>
        <cusip>G315GTAY0</cusip>
        <identifiers>
          <isin value="XS2400455163"/>
          <ticker value="BP4DN55"/>
        </identifiers>
        <balance>190000000</balance>
        <units>PA</units>
        <currencyConditional curCd="INR" exchangeRt="91.9875"/>
        <valUSD>2048251.12</valUSD>
        <pctVal>2.7259317415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-SUPRA" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASIAN DEVELOPMENT BANK</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
        <cusip>Y000A93A8</cusip>
        <identifiers>
          <isin value="XS2373163711"/>
          <ticker value="BP6M6Y0"/>
        </identifiers>
        <balance>7000000</balance>
        <units>PA</units>
        <currencyConditional curCd="BRL" exchangeRt="5.2628"/>
        <valUSD>1128408.83</valUSD>
        <pctVal>1.5017521128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="OTHER-SUPRA" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THAILAND GOVERNMENT BOND</name>
        <lei>254900PHJ6MSKT6C7026</lei>
        <title>Thailand Government Bond</title>
        <cusip>Y6065BRA7</cusip>
        <identifiers>
          <isin value="TH0623A3H605"/>
          <ticker value="BPVGVM0"/>
        </identifiers>
        <balance>47000000</balance>
        <units>PA</units>
        <currencyConditional curCd="THB" exchangeRt="31.4650"/>
        <valUSD>1678820.88</valUSD>
        <pctVal>2.2342724876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.39</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-02-05</ncom:dateSigned>
      <ncom:nameOfApplicant>INVESTMENT MANAGERS SERIES TRUST</ncom:nameOfApplicant>
      <ncom:signature>/s/ Maureen Quill</ncom:signature>
      <ncom:signerName>Maureen Quill</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
