|
|
Par Value(1)
|
Value
|
|
Foreign Government Securities—75.7%
|
||
|
Angola—1.7%
|
|
|
|
Republic of Angola
|
|
|
|
144A
8.000%, 11/26/29(2)
|
$365
|
$374
|
|
144A
9.244%, 1/15/31(2)
|
917
|
965
|
|
144A
9.875%, 10/15/35(2)
|
2,714
|
2,863
|
|
144A
9.875%, 3/31/37(2)
|
1,456
|
1,510
|
|
Republic of Angola Via Avenir Issuer II Ireland DAC
RegS
6.927%, 2/19/27(3)(4)
|
153
|
152
|
|
|
|
5,864
|
|
|
|
|
|
|
||
|
Argentina—3.1%
|
|
|
|
Provincia de Buenos Aires RegS
6.625%, 9/1/37(4)(5)
|
2,154
|
1,707
|
|
Republic of Argentina
|
|
|
|
0.750%, 7/9/30(5) |
3,096
|
2,679
|
|
4.125%, 7/9/35(5) |
1,232
|
932
|
|
3.500%, 7/9/41(5) |
4,892
|
3,450
|
|
4.125%, 7/9/46(5) |
2,581
|
1,834
|
|
|
|
10,602
|
|
|
|
|
|
|
||
|
Bahrain—2.9%
|
|
|
|
Kingdom of Bahrain
|
|
|
|
144A
7.375%, 5/14/30(2)
|
1,681
|
1,681
|
|
144A
5.625%, 5/18/34(2)
|
952
|
846
|
|
144A
7.125%, 6/10/36(2)
|
4,272
|
4,093
|
|
144A
7.500%, 7/7/37(2)
|
749
|
732
|
|
144A
6.625%, 10/6/37(2)
|
1,462
|
1,328
|
|
144A
7.100%, 2/3/38(2)
|
1,258
|
1,182
|
|
|
|
9,862
|
|
|
|
|
|
|
||
|
Benin—0.2%
|
|
|
|
Benin Government International Bond
|
|
|
|
144A
7.960%, 2/13/38(2)
|
434
|
460
|
|
RegS
4.950%, 1/22/35(4)
|
362
EUR
|
396
|
|
|
|
856
|
|
|
|
|
|
|
||
|
Bermuda—0.6%
|
|
|
|
Government of Bermuda
|
|
|
|
144A
4.750%, 2/15/29(2)
|
415
|
411
|
|
RegS
3.375%, 8/20/50(4)
|
2,571
|
1,698
|
|
|
|
2,109
|
|
|
|
|
|
|
||
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Bolivia—0.2%
|
|
|
|
Bolivia Government Bond RegS
9.450%, 5/14/31(4)
|
$550
|
$546
|
|
Brazil—3.3%
|
|
|
|
Federative Republic of Brazil
|
|
|
|
6.000%, 10/20/33 |
1,435
|
1,430
|
|
6.625%, 3/15/35 |
3,058
|
3,090
|
|
6.250%, 5/22/36 |
6,965
|
6,748
|
|
|
|
11,268
|
|
|
|
|
|
|
||
|
Bulgaria—0.2%
|
|
|
|
Bulgaria Government International Bond RegS
4.125%, 7/18/45(4)
|
663
EUR
|
703
|
|
Cameroon—0.9%
|
|
|
|
Republic of Cameroon
|
|
|
|
RegS
5.950%, 7/7/32(4)
|
2,504
EUR
|
2,623
|
|
RegS
8.875%, 1/30/33(4)
|
400
|
394
|
|
|
|
3,017
|
|
|
|
|
|
|
||
|
Chile—1.8%
|
|
|
|
Republic of Chile
|
|
|
|
4.350%, 4/13/31 |
2,485
|
2,415
|
|
2.550%, 1/27/32 |
261
|
229
|
|
4.950%, 1/5/36 |
1,401
|
1,354
|
|
3.500%, 4/15/53 |
3,253
|
2,193
|
|
|
|
6,191
|
|
|
|
|
|
|
||
|
Colombia—2.9%
|
|
|
|
Republic of Colombia
|
|
|
|
6.125%, 1/21/31 |
1,170
|
1,172
|
|
8.000%, 4/20/33 |
2,889
|
3,112
|
|
7.500%, 2/2/34 |
4,541
|
4,759
|
|
5.625%, 2/26/44 |
979
|
820
|
|
|
|
9,863
|
|
|
|
|
|
|
||
|
Congo—0.4%
|
|
|
|
Republic of Congo RegS
9.500%, 5/26/36(4)
|
1,433
|
1,388
|
|
Costa Rica—0.2%
|
|
|
|
Costa Rica Government
|
|
|
|
144A
7.300%, 11/13/54(2)
|
356
|
385
|
|
RegS
7.000%, 4/4/44(4)
|
413
|
435
|
|
|
|
820
|
|
|
|
|
|
|
||
|
Dominican Republic—2.7%
|
|
|
|
Dominican Republic
|
|
|
|
144A
5.875%, 10/28/35(2)
|
2,689
|
2,610
|
|
144A
6.600%, 6/1/36(2)
|
644
|
658
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Dominican Republic—continued
|
|
|
|
144A
6.950%, 3/15/37(2)
|
$839
|
$870
|
|
RegS
6.950%, 3/15/37(4)
|
5,048
|
5,236
|
|
|
|
9,374
|
|
|
|
|
|
|
||
|
Ecuador—3.4%
|
|
|
|
Amazon Conservation DAC 144A
6.034%, 1/16/42(2)
|
2,528
|
2,489
|
|
Republic of Ecuador
|
|
|
|
144A
8.750%, 1/29/34(2)
|
2,423
|
2,416
|
|
144A
9.250%, 1/29/39(2)
|
3,481
|
3,518
|
|
RegS
6.900%, 7/31/35(4)(5)
|
1,567
|
1,433
|
|
RegS
5.500%, 7/31/40(4)(5)
|
2,057
|
1,681
|
|
|
|
11,537
|
|
|
|
|
|
|
||
|
Egypt—2.8%
|
|
|
|
Arab Republic of Egypt
|
|
|
|
144A
8.625%, 2/4/30(2)
|
759
|
809
|
|
144A
7.053%, 1/15/32(2)
|
3,877
|
3,873
|
|
144A
6.875%, 4/30/40(2)
|
332
|
309
|
|
144A
7.903%, 2/21/48(2)
|
1,609
|
1,446
|
|
144A
8.750%, 9/30/51(2)
|
2,308
|
2,227
|
|
RegS
7.500%, 2/16/61(4)
|
1,318
|
1,112
|
|
|
|
9,776
|
|
|
|
|
|
|
||
|
El Salvador—0.2%
|
|
|
|
Republic of El Salvador RegS
7.125%, 1/20/50(4)
|
662
|
605
|
|
Ethiopia—0.1%
|
|
|
|
Federal Republic of Ethiopia RegS
6.625%, 12/11/26(4)(6)
|
333
|
360
|
|
Gabon—0.5%
|
|
|
|
Republic of Gabon
|
|
|
|
144A
6.625%, 2/6/31(2)
|
773
|
672
|
|
RegS
9.500%, 2/18/29(4)
|
1,121
|
1,083
|
|
|
|
1,755
|
|
|
|
|
|
|
||
|
Ghana—0.3%
|
|
|
|
Republic of Ghana RegS
5.000%, 7/3/35(4)(5)
|
1,261
|
1,175
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Guatemala—0.1%
|
|
|
|
Republic of Guatemala 144A
3.700%, 10/7/33(2)
|
$349
|
$307
|
|
Hungary—2.8%
|
|
|
|
Hungary Government International Bond
|
|
|
|
144A
6.250%, 9/22/32(2)
|
486
|
510
|
|
144A
5.500%, 6/16/34(2)
|
1,262
|
1,265
|
|
144A
6.000%, 9/26/35(2)
|
1,589
|
1,622
|
|
144A
5.500%, 3/26/36(2)
|
2,722
|
2,679
|
|
144A
6.750%, 9/25/52(2)
|
1,119
|
1,170
|
|
RegS
2.125%, 9/22/31(4)
|
1,653
|
1,427
|
|
Magyar Export-Import Bank Zrt 144A
6.125%, 12/4/27(2)
|
943
|
955
|
|
|
|
9,628
|
|
|
|
|
|
|
||
|
Indonesia—2.4%
|
|
|
|
Republic of Indonesia
|
|
|
|
2.150%, 7/28/31 |
2,639
|
2,296
|
|
4.650%, 9/20/32 |
1,735
|
1,676
|
|
5.600%, 1/15/35 |
2,608
|
2,611
|
|
4.950%, 2/21/36 |
722
|
682
|
|
RegS
6.750%, 1/15/44(4)
|
898
|
953
|
|
|
|
8,218
|
|
|
|
|
|
|
||
|
Ivory Coast—0.5%
|
|
|
|
Republic of Ivory Coast
|
|
|
|
144A
8.075%, 4/1/36(2)
|
143
|
155
|
|
144A
8.250%, 1/30/37(2)
|
656
|
714
|
|
144A
6.750%, 2/25/41(2)
|
782
|
745
|
|
|
|
1,614
|
|
|
|
|
|
|
||
|
Kazakhstan—1.5%
|
|
|
|
Republic of Kazakhstan
|
|
|
|
144A
4.412%, 10/28/30(2)
|
1,741
|
1,714
|
|
144A
5.500%, 7/1/37(2)
|
1,509
|
1,507
|
|
RegS
4.714%, 4/9/35(4)
|
1,930
|
1,857
|
|
|
|
5,078
|
|
|
|
|
|
|
||
|
Kenya—1.2%
|
|
|
|
Republic of Kenya
|
|
|
|
144A
7.875%, 10/9/33(2)
|
1,093
|
1,095
|
|
144A
7.875%, 2/26/34(2)
|
805
|
799
|
|
144A
9.500%, 3/5/36(2)
|
883
|
930
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Kenya—continued
|
|
|
|
144A
8.700%, 2/26/39(2)
|
$1,204
|
$1,185
|
|
|
|
4,009
|
|
|
|
|
|
|
||
|
Kuwait—1.0%
|
|
|
|
Kuwait International Bond 144A
5.157%, 7/29/31(2)
|
3,430
|
3,433
|
|
Kyrgyzstan—0.1%
|
|
|
|
Kyrgyz Republic International Bond 144A
7.750%, 6/3/30(2)
|
364
|
370
|
|
Lebanon—0.3%
|
|
|
|
Lebanon Government International Bond
|
|
|
|
RegS
6.375%, 3/9/20(4)(6)
|
623
|
172
|
|
RegS
8.250%, 4/12/21(4)(6)
|
3,143
|
943
|
|
|
|
1,115
|
|
|
|
|
|
|
||
|
Mexico—4.3%
|
|
|
|
Eagle Funding Luxco S.a.r.l. 144A
5.500%, 8/17/30(2)
|
3,293
|
3,290
|
|
United Mexican States
|
|
|
|
5.850%, 7/2/32 |
1,353
|
1,358
|
|
5.375%, 3/22/33 |
1,561
|
1,512
|
|
3.500%, 2/12/34 |
2,572
|
2,173
|
|
6.250%, 8/27/37 |
3,782
|
3,709
|
|
5.000%, 4/27/51 |
686
|
520
|
|
3.771%, 5/24/61 |
3,285
|
1,882
|
|
3.750%, 4/19/71 |
880
|
482
|
|
|
|
14,926
|
|
|
|
|
|
|
||
|
Mongolia—0.2%
|
|
|
|
Development Bank of Mongolia 144A
6.900%, 7/2/31(2)
|
852
|
851
|
|
Mozambique—0.1%
|
|
|
|
Republic of Mozambique 144A
9.000%, 9/15/31(2)(5)
|
363
|
332
|
|
Nigeria—2.1%
|
|
|
|
Republic of Nigeria
|
|
|
|
144A
6.500%, 11/28/27(2)
|
513
|
517
|
|
144A
7.143%, 2/23/30(2)
|
967
|
994
|
|
144A
9.625%, 6/9/31(2)
|
1,545
|
1,728
|
|
144A
7.696%, 2/23/38(2)
|
798
|
810
|
|
144A
9.130%, 1/13/46(2)
|
1,768
|
1,943
|
|
RegS
8.747%, 1/21/31(4)
|
1,145
|
1,235
|
|
|
|
7,227
|
|
|
|
|
|
|
||
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Oman—2.9%
|
|
|
|
Oman Government International Bond
|
|
|
|
144A
6.250%, 1/25/31(2)
|
$3,118
|
$3,239
|
|
144A
6.500%, 3/8/47(2)
|
4,585
|
4,655
|
|
144A
6.750%, 1/17/48(2)
|
1,066
|
1,114
|
|
RegS
6.250%, 1/25/31(4)
|
756
|
785
|
|
|
|
9,793
|
|
|
|
|
|
|
||
|
Pakistan—0.3%
|
|
|
|
Islamic Republic of Pakistan 144A
7.375%, 4/8/31(2)
|
1,031
|
1,035
|
|
Panama—1.8%
|
|
|
|
Panama Bonos del Tesoro
3.362%, 6/30/31
|
2,575
|
2,311
|
|
Republic of Panama
|
|
|
|
5.227%, 2/23/34 |
740
|
718
|
|
6.700%, 1/26/36 |
847
|
891
|
|
6.853%, 3/28/54 |
2,082
|
2,149
|
|
4.500%, 1/19/63 |
265
|
193
|
|
|
|
6,262
|
|
|
|
|
|
|
||
|
Peru—1.3%
|
|
|
|
Republic of Peru
|
|
|
|
8.750%, 11/21/33 |
209
|
249
|
|
3.000%, 1/15/34 |
1,472
|
1,251
|
|
5.375%, 2/8/35 |
2,958
|
2,919
|
|
|
|
4,419
|
|
|
|
|
|
|
||
|
Philippines—2.0%
|
|
|
|
Republic of Philippines
|
|
|
|
1.950%, 1/6/32 |
941
|
805
|
|
5.000%, 7/17/33 |
872
|
859
|
|
4.750%, 3/5/35 |
640
|
609
|
|
5.325%, 6/24/36 |
1,568
|
1,535
|
|
5.000%, 1/13/37 |
616
|
584
|
|
3.700%, 2/2/42 |
1,753
|
1,348
|
|
2.650%, 12/10/45 |
1,313
|
796
|
|
5.750%, 1/27/51 |
335
|
317
|
|
|
|
6,853
|
|
|
|
|
|
|
||
|
Poland—2.1%
|
|
|
|
Republic of Poland
|
|
|
|
5.125%, 9/18/34 |
3,136
|
3,088
|
|
5.375%, 2/12/35 |
896
|
891
|
|
5.375%, 4/14/36 |
1,116
|
1,099
|
|
5.500%, 4/4/53 |
1,364
|
1,221
|
|
5.500%, 3/18/54 |
914
|
817
|
|
|
|
7,116
|
|
|
|
|
|
|
||
|
Romania—2.7%
|
|
|
|
Romanian Government International Bond
|
|
|
|
144A
5.750%, 9/16/30(2)
|
661
|
660
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Romania—continued
|
|
|
|
144A
4.625%, 3/4/33(2)
|
284
EUR
|
$314
|
|
144A
6.375%, 1/30/34(2)
|
$1,114
|
1,112
|
|
144A
6.000%, 5/25/34(2)
|
1,809
|
1,765
|
|
144A
5.750%, 3/24/35(2)
|
484
|
461
|
|
144A
6.625%, 5/16/36(2)
|
445
|
446
|
|
144A
5.750%, 7/4/36(2)
|
1,008
|
948
|
|
144A
2.625%, 12/2/40(2)
|
2,225
EUR
|
1,672
|
|
RegS
6.000%, 5/25/34(4)
|
704
|
687
|
|
RegS
6.000%, 9/24/44(4)
|
957
EUR
|
1,035
|
|
|
|
9,100
|
|
|
|
|
|
|
||
|
Russia—0.0%
|
|
|
|
Russian Federation - Eurobond RegS
5.100%, 3/28/35(4)(6)(7)
|
100
|
—
|
|
Saudi Arabia—4.0%
|
|
|
|
Gaci First Investment Co. RegS
4.750%, 2/14/30(4)
|
2,429
|
2,391
|
|
KSA Ijarah Sukuk Ltd. 144A
4.875%, 9/9/35(2)
|
1,106
|
1,073
|
|
Saudi International Bond
|
|
|
|
144A
4.500%, 4/17/30(2)
|
2,481
|
2,437
|
|
144A
5.000%, 1/16/34(2)
|
1,139
|
1,121
|
|
144A
5.625%, 1/13/35(2)
|
555
|
563
|
|
144A
4.875%, 1/12/36(2)
|
217
|
209
|
|
144A
5.750%, 1/16/54(2)
|
1,243
|
1,146
|
|
144A
3.750%, 1/21/55(2)
|
2,584
|
1,705
|
|
RegS
3.250%, 10/22/30(4)
|
978
|
913
|
|
RegS
5.625%, 1/13/35(4)
|
2,209
|
2,242
|
|
|
|
13,800
|
|
|
|
|
|
|
||
|
Senegal—0.2%
|
|
|
|
Republic of Senegal RegS
4.750%, 3/13/28(4)
|
1,000
EUR
|
646
|
|
Serbia—1.2%
|
|
|
|
Republic of Serbia
|
|
|
|
144A
6.500%, 9/26/33(2)
|
627
|
648
|
|
144A
6.000%, 6/12/34(2)
|
1,345
|
1,348
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Serbia—continued
|
|
|
|
144A
5.500%, 5/6/36(2)
|
$2,212
|
$2,115
|
|
|
|
4,111
|
|
|
|
|
|
|
||
|
South Africa—2.3%
|
|
|
|
Republic of South Africa
|
|
|
|
5.375%, 7/24/44 |
692
|
578
|
|
5.650%, 9/27/47 |
944
|
784
|
|
5.750%, 9/30/49 |
1,041
|
862
|
|
7.300%, 4/20/52 |
1,033
|
1,025
|
|
144A
6.125%, 12/11/37(2)
|
1,226
|
1,196
|
|
144A
7.950%, 11/19/54(2)
|
3,176
|
3,360
|
|
|
|
7,805
|
|
|
|
|
|
|
||
|
Sri Lanka—1.1%
|
|
|
|
Republic of Sri Lanka
|
|
|
|
144A
4.000%, 4/15/28(2)
|
182
|
176
|
|
144A
3.100%, 1/15/30(2)(5)
|
—
(8)
|
—
(8)
|
|
144A
3.350%, 3/15/33(2)(5)
|
1,623
|
1,560
|
|
144A
3.600%, 6/15/35(2)(5)
|
1,066
|
880
|
|
144A
3.600%, 2/15/38(2)(5)
|
997
|
1,020
|
|
|
|
3,636
|
|
|
|
|
|
|
||
|
Suriname—0.5%
|
|
|
|
Suriname Government International Bond 144A
8.500%, 11/6/35(2)
|
1,603
|
1,728
|
|
Trinidad and Tobago—0.0%
|
|
|
|
Trinidad & Tobago Government International Bond
144A
6.400%, 6/26/34(2)
|
4
|
4
|
|
Turkey—4.6%
|
|
|
|
Hazine Mustesarligi Varlik Kiralama AS 144A
8.509%, 1/14/29(2)
|
1,387
|
1,458
|
|
Republic of Turkiye
|
|
|
|
9.375%, 3/14/29 |
1,879
|
2,019
|
|
5.950%, 1/15/31 |
1,695
|
1,659
|
|
7.125%, 2/12/32 |
1,843
|
1,875
|
|
7.250%, 5/29/32 |
1,683
|
1,717
|
|
6.300%, 3/14/33 |
495
|
479
|
|
6.500%, 9/20/33 |
945
|
925
|
|
7.625%, 5/15/34 |
471
|
487
|
|
6.500%, 1/3/35 |
822
|
795
|
|
6.950%, 9/16/35 |
1,218
|
1,203
|
|
6.625%, 2/17/45 |
301
|
269
|
|
5.750%, 5/11/47 |
3,554
|
2,811
|
|
|
|
15,697
|
|
|
|
|
|
|
||
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Ukraine—2.1%
|
|
|
|
Ukraine Government Bond
|
|
|
|
144A
4.500%, 2/1/29(2)(5)
|
$897
|
$767
|
|
144A
0.000%, 2/1/30(2)(5)
|
112
|
80
|
|
144A
4.000%, 2/1/32(2)(5)
|
417
|
342
|
|
144A
0.000%, 2/1/36(2)(5)
|
1,264
|
729
|
|
144A
4.500%, 2/1/36(2)(5)
|
80
|
53
|
|
RegS
0.000%, 2/1/30(4)(5)
|
52
|
37
|
|
RegS
4.000%, 2/1/32(4)(5)
|
3,083
|
2,531
|
|
RegS
0.000%, 2/1/34(4)(5)
|
—
(8)
|
—
(8)
|
|
RegS
0.000%, 2/1/35(4)(5)
|
4,489
|
2,597
|
|
RegS
4.500%, 2/1/36(4)(5)
|
8
|
6
|
|
|
|
7,142
|
|
|
|
|
|
|
||
|
Uruguay—0.9%
|
|
|
|
Republica Orient Uruguay
|
|
|
|
5.100%, 6/18/50 |
688
|
612
|
|
4.975%, 4/20/55 |
313
|
268
|
|
5.250%, 9/10/60 |
2,683
|
2,361
|
|
|
|
3,241
|
|
|
|
|
|
|
||
|
Uzbekistan—0.2%
|
|
|
|
Uzbekistan International Bond
|
|
|
|
144A
7.850%, 10/12/28(2)
|
512
|
536
|
|
144A
3.700%, 11/25/30(2)
|
5
|
5
|
|
|
|
541
|
|
|
|
|
|
|
||
|
Venezuela—0.4%
|
|
|
|
Bolivarian Republic of Venezuela
|
|
|
|
RegS
7.750%, 10/13/19(4)(6)
|
800
|
396
|
|
RegS
6.000%, 12/9/20(4)(6)
|
1,038
|
455
|
|
RegS
12.750%, 8/23/22(4)(6)
|
1,035
|
613
|
|
|
|
1,464
|
|
|
|
|
|
|
||
|
Zambia—0.1%
|
|
|
|
Republic of Zambia 144A
5.750%, 6/30/33(2)(5)
|
344
|
338
|
|
Total Foreign Government Securities
(Identified Cost $257,214)
|
259,510
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
|
|
|
|
Convertible Bonds and Notes—0.1%
|
||
|
Tanzania—0.1%
|
|
|
|
HTA Group Ltd. RegS
2.875%, 3/18/27(4)
|
$400
|
$430
|
|
Total Convertible Bonds and Notes
(Identified Cost $396)
|
430
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
Corporate Bonds and Notes—18.2%
|
||
|
Angola—0.1%
|
|
|
|
Azule Energy Finance plc 144A
8.125%, 1/23/30(2)
|
167
|
170
|
|
Argentina—0.4%
|
|
|
|
Generacion Mediterranea S.A.
|
|
|
|
144A 7.500%, 12/31/34(2) |
192
|
151
|
|
144A 4.000%, 6/30/36(2)(9) |
26
|
11
|
|
MSU Energy S.A. 144A
9.750%, 12/5/30(2)
|
311
|
315
|
|
MSU Green Energy 144A
9.750%, 6/16/36(2)
|
148
|
144
|
|
Telecom Argentina S.A. 144A
9.250%, 5/28/33(2)
|
211
|
225
|
|
YPF Energia Electrica S.A. 144A
7.875%, 10/16/32(2)
|
183
|
188
|
|
YPF S.A. 144A
9.500%, 1/17/31(2)
|
245
|
258
|
|
|
|
1,292
|
|
|
|
|
|
|
||
|
Brazil—0.9%
|
|
|
|
3R Lux S.a.r.l. 144A
9.750%, 2/5/31(2)
|
271
|
287
|
|
Adecoagro S.A. 144A
7.500%, 7/29/32(2)
|
156
|
152
|
|
Eldorado Intl. Finance GmbH 144A
8.500%, 12/1/32(2)
|
112
|
114
|
|
FORESEA Holding S.A. 144A
7.500%, 6/15/30(2)
|
269
|
266
|
|
FS Luxembourg S.a.r.l. 144A
8.125%, 2/11/36(2)
|
172
|
151
|
|
MC Brazil Downstream Trading S.a.r.l. 144A
7.250%, 6/30/31(2)
|
291
|
289
|
|
Movida Europe S.A. 144A
9.700%, 10/11/33(2)
|
167
|
157
|
|
MV24 Capital B.V. 144A
6.748%, 6/1/34(2)
|
187
|
190
|
|
OHI Group S.A. 144A
13.000%, 7/22/29(2)
|
233
|
233
|
|
Raizen Fuels Finance S.A. 144A
6.250%, 7/8/32(2)(6)
|
152
|
87
|
|
Samarco Mineracao S.A. (9.000% or 5.000% PIK,
4.000% cash) 144A
9.500%, 6/30/31(2)(9)
|
294
|
296
|
|
Simpar Europe S.A. 144A
5.200%, 1/26/31(2)
|
85
|
71
|
|
Trident Energy Finance plc 144A
12.500%, 11/30/29(2)
|
166
|
175
|
|
Vamos Europe S.A. 144A
9.200%, 1/26/31(2)
|
152
|
146
|
|
Yinson Bergenia Production B.V. 144A
8.498%, 1/31/45(2)
|
138
|
147
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Brazil—continued
|
|
|
|
Yinson Boronia Production B.V. 144A
8.947%, 7/31/42(2)
|
$242
|
$267
|
|
|
|
3,028
|
|
|
|
|
|
|
||
|
Chile—1.2%
|
|
|
|
ATP Tower Holdings 144A
7.875%, 2/3/30(2)
|
200
|
204
|
|
Banco de Credito e Inversiones S.A. 144A
7.500% (2)(10)
|
208
|
219
|
|
Chile Electricity Lux Mpc II S.a.r.l. 144A
5.580%, 10/20/35(2)
|
237
|
237
|
|
Corp. Nacional del Cobre de Chile
|
|
|
|
144A 5.950%, 1/8/34(2) |
1,257
|
1,276
|
|
144A 6.330%, 1/13/35(2) |
925
|
956
|
|
144A 3.700%, 1/30/50(2) |
555
|
373
|
|
Empresa Nacional del Petroleo RegS
5.250%, 11/6/29(4)
|
903
|
904
|
|
|
|
4,169
|
|
|
|
|
|
|
||
|
China—0.4%
|
|
|
|
Longfor Group Holdings Ltd. RegS
3.850%, 1/13/32(4)
|
200
|
153
|
|
Melco Resorts Finance Ltd. (Macau) 144A
5.375%, 12/4/29(2)
|
76
|
74
|
|
NWD Finance BVI Ltd. RegS
12.179% (4)(10)
|
200
|
195
|
|
NWD MTN Ltd. RegS
4.125%, 7/18/29(4)
|
200
|
169
|
|
Studio City Co., Ltd. (Macau) 144A
6.125%, 5/15/31(2)
|
49
|
48
|
|
Studio City Finance Ltd. (Macau) 144A
5.000%, 1/15/29(2)
|
610
|
585
|
|
|
|
1,224
|
|
|
|
|
|
|
||
|
Colombia—0.4%
|
|
|
|
AI Candelaria -spain- S.A. RegS
5.750%, 6/15/33(4)
|
269
|
248
|
|
Banco Davivienda S.A. 144A
6.650% (2)(10)
|
248
|
235
|
|
Geopark Ltd. 144A
8.750%, 1/31/30(2)
|
189
|
194
|
|
Gran Tierra Energy, Inc.
|
|
|
|
144A 9.500%, 10/15/29(2) |
200
|
201
|
|
144A 9.750%, 4/15/31(2) |
39
|
41
|
|
Grupo Nutresa S.A. 144A
7.875% (2)(10)
|
205
|
202
|
|
Promigas S.A. ESP 144A
7.750%, 6/24/56(2)
|
122
|
124
|
|
|
|
1,245
|
|
|
|
|
|
|
||
|
Czech Republic—0.2%
|
|
|
|
CPI Property Group S.A. RegS
6.000%, 1/27/32(4)
|
350
EUR
|
393
|
|
Energo-Pro AS 144A
8.000%, 5/27/30(2)
|
100
EUR
|
122
|
|
|
|
515
|
|
|
|
|
|
|
||
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
El Salvador—0.2%
|
|
|
|
Comision Ejecutiva Hidroelectrica del Rio Lempa 144A
8.650%, 1/24/33(2)
|
$693
|
$746
|
|
Georgia—0.1%
|
|
|
|
Bank of Georgia JSC 144A
6.500%, 6/3/31(2)
|
49
|
49
|
|
Georgian Railway JSC 144A
4.000%, 6/17/28(2)
|
300
|
289
|
|
|
|
338
|
|
|
|
|
|
|
||
|
Ghana—0.1%
|
|
|
|
Kosmos Energy Ltd. RegS
7.750%, 5/1/27(4)
|
150
|
150
|
|
Tullow Holdco 2 Ltd. (10.250% cash and 3.000% PIK,
1.750% cash or PIK) 144A
15.000%, 11/15/28(2)(9)
|
77
|
79
|
|
|
|
229
|
|
|
|
|
|
|
||
|
India—0.4%
|
|
|
|
Adani Electricity Mumbai Ltd. RegS
3.949%, 2/12/30(4)
|
294
|
276
|
|
Adani Green Energy UP Ltd. 144A
6.700%, 3/12/42(2)
|
105
|
103
|
|
Adani Ports & Special Economic Zone Ltd. 144A
3.100%, 2/2/31(2)
|
255
|
228
|
|
Adani Renewable Energy RJ Ltd. 144A
4.625%, 10/15/39(2)
|
262
|
224
|
|
Clean Renewable Power Mauritius Pte Ltd. 144A
4.250%, 3/25/27(2)
|
64
|
63
|
|
UPL Corp., Ltd. RegS
4.625%, 6/16/30(4)
|
200
|
186
|
|
Vedanta Resources Finance II plc 144A
7.375%, 7/13/34(2)
|
200
|
200
|
|
|
|
1,280
|
|
|
|
|
|
|
||
|
Indonesia—1.3%
|
|
|
|
Freeport Indonesia PT RegS
5.315%, 4/14/32(4)
|
105
|
103
|
|
Indika Energy Tbk PT 144A
8.750%, 5/7/29(2)
|
41
|
42
|
|
Indonesia Asahan Aluminium PT 144A
5.800%, 5/15/50(2)
|
2,315
|
2,124
|
|
Medco Laurel Tree Pte Ltd. 144A
6.950%, 11/12/28(2)
|
150
|
150
|
|
Medco Maple Tree Pte Ltd. RegS
8.960%, 4/27/29(4)
|
77
|
79
|
|
Minejesa Capital B.V. 144A
5.625%, 8/10/37(2)
|
350
|
330
|
|
Pertamina Persero PT RegS
6.000%, 5/3/42(4)
|
561
|
531
|
|
Perusahaan Perseroan Persero PT Perusahaan Listrik
Negara
|
|
|
|
RegS 5.250%, 10/24/42(4) |
783
|
668
|
|
RegS 4.000%, 6/30/50(4) |
716
|
473
|
|
|
|
4,500
|
|
|
|
|
|
|
||
|
Iraq—0.1%
|
|
|
|
Petronas Capital Ltd. RegS
3.404%, 4/28/61(4)
|
593
|
372
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Israel—0.1%
|
|
|
|
Energean Israel Finance Ltd.
|
|
|
|
144A, RegS 5.375%, 3/30/28(2)(4) |
$21
|
$21
|
|
144A, RegS 5.875%, 3/30/31(2)(4) |
90
|
86
|
|
Leviathan Bond Ltd. 144A, RegS
6.750%, 6/30/30(2)(4)
|
70
|
72
|
|
|
|
179
|
|
|
|
|
|
|
||
|
Kuwait—0.0%
|
|
|
|
NBK Tier 1 Ltd. 144A
6.375% (2)(10)
|
145
|
145
|
|
Kyrgyzstan—0.7%
|
|
|
|
Eldik Bank OAO 144A
8.500%, 4/23/31(2)
|
2,540
|
2,553
|
|
Malaysia—0.9%
|
|
|
|
Petronas Capital Ltd.
|
|
|
|
144A 5.848%, 4/3/55(2) |
2,176
|
2,136
|
|
RegS 4.550%, 4/21/50(4) |
1,219
|
1,002
|
|
|
|
3,138
|
|
|
|
|
|
|
||
|
Mexico—3.4%
|
|
|
|
Banca Mifel S.A. 144A
9.250% (2)(10)
|
162
|
161
|
|
Banco Mercantil del Norte S.A.
|
|
|
|
144A 5.875%(2)(10) |
250
|
249
|
|
144A 6.625%(2)(10) |
237
|
226
|
|
Cemex SAB de C.V. 144A
7.200% (2)(10)
|
213
|
220
|
|
Comision Federal de Electricidad 144A
6.450%, 1/24/35(2)
|
923
|
911
|
|
Grupo Aeromexico SAB de C.V. 144A
8.625%, 11/15/31(2)
|
236
|
241
|
|
Grupo Televisa SAB
6.125%, 1/31/46
|
214
|
168
|
|
Orbia Advance Corp. SAB de C.V.
|
|
|
|
144A 7.500%, 5/13/35(2) |
162
|
163
|
|
144A 5.875%, 9/17/44(2) |
116
|
92
|
|
Petroleos Mexicanos
|
|
|
|
7.690%, 1/23/50 |
620
|
565
|
|
6.950%, 1/28/60 |
3,241
|
2,658
|
|
6.350%, 2/12/48 |
1,532
|
1,236
|
|
Poinsettia Finance Ltd. S.a.r.l. RegS
6.625%, 6/17/31(4)
|
4,609
|
4,547
|
|
Saavi Energia S.a.r.l. 144A
8.875%, 2/10/35(2)
|
137
|
151
|
|
|
|
11,588
|
|
|
|
|
|
|
||
|
Morocco—0.7%
|
|
|
|
OCP S.A.
|
|
|
|
144A 6.700%, 3/1/36(2) |
1,946
|
1,994
|
|
144A 7.500%, 5/2/54(2) |
231
|
240
|
|
|
|
2,234
|
|
|
|
|
|
|
||
|
Nigeria—0.1%
|
|
|
|
Access Bank plc 144A
6.125%, 9/21/26(2)
|
75
|
75
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Nigeria—continued
|
|
|
|
IHS Holding Ltd.
|
|
|
|
144A 7.875%, 5/29/30(2) |
$128
|
$131
|
|
144A 8.250%, 11/29/31(2) |
80
|
83
|
|
IHS Mauritius NG Holdco Ltd. 144A
8.000%, 9/18/27(2)
|
201
|
200
|
|
|
|
489
|
|
|
|
|
|
|
||
|
Pakistan—0.0%
|
|
|
|
Veon Midco B.V. 144A
6.950%, 6/1/31(2)
|
161
|
161
|
|
Peru—0.4%
|
|
|
|
Peru Payroll Deduction Finance Ltd. RegS
0.000%, 11/1/29(4)(11)
|
523
|
471
|
|
Petroleos del Peru S.A. RegS
4.750%, 6/19/32(4)
|
871
|
754
|
|
Volcan Cia Minera SAA 144A
8.500%, 10/28/32(2)
|
149
|
154
|
|
|
|
1,379
|
|
|
|
|
|
|
||
|
Saudi Arabia—1.4%
|
|
|
|
Green Palm Bidco S.a.r.l. 144A
5.957%, 6/30/41(2)
|
3,388
|
3,325
|
|
SAB AT1 Ltd. RegS
6.500% (4)(10)
|
200
|
202
|
|
Saudi Arabian Oil Co. 144A
5.875%, 7/17/64(2)
|
1,269
|
1,134
|
|
|
|
4,661
|
|
|
|
|
|
|
||
|
Serbia—0.0%
|
|
|
|
Telecommunications Co. Telekom Srbija AD Belgrade
144A
7.250%, 5/18/31(2)
|
88
|
87
|
|
South Africa—0.9%
|
|
|
|
Eskom Holdings 144A
8.450%, 8/10/28(2)
|
2,533
|
2,654
|
|
Prosus N.V. 144A
3.832%, 2/8/51(2)
|
250
|
162
|
|
Sasol Financing USA LLC
|
|
|
|
4.375%, 9/18/26 |
70
|
70
|
|
144A 8.750%, 5/3/29(2) |
79
|
83
|
|
144A 8.750%, 4/10/33(2) |
76
|
80
|
|
|
|
3,049
|
|
|
|
|
|
|
||
|
Tanzania—0.0%
|
|
|
|
HTA Group Ltd. 144A
7.500%, 6/4/29(2)
|
105
|
108
|
|
Trinidad and Tobago—0.4%
|
|
|
|
Port of Spain Waterfront Development RegS
7.875%, 2/19/40(4)
|
1,269
|
1,314
|
|
Turkey—0.4%
|
|
|
|
Akbank TAS 144A
7.875%, 9/4/35(2)
|
75
|
75
|
|
Aydem Yenilenebilir Enerji AS 144A
9.875%, 9/30/30(2)
|
33
|
33
|
|
|
Par Value(1)
|
Value
|
|
|
|
|
|
Turkey—continued
|
|
|
|
Guermat Elektrik Ueretim AS 144A
10.748%, 5/21/35(2)
|
$38
|
$38
|
|
Limak Cimento Sanayi ve Ticaret AS 144A
9.750%, 7/25/29(2)
|
50
|
50
|
|
Limak Yenilenebilir Enerji AS 144A
9.625%, 8/12/30(2)
|
34
|
34
|
|
Turkcell Iletisim Hizmetleri AS
|
|
|
|
144A 7.450%, 1/24/30(2) |
814
|
833
|
|
144A 7.650%, 1/24/32(2) |
215
|
222
|
|
Turkiye Garanti Bankasi AS 144A
8.125%, 1/3/35(2)
|
47
|
48
|
|
WE Soda Investments Holding plc 144A
9.500%, 10/6/28(2)
|
70
|
70
|
|
Zorlu Enerji Elektrik Uretim AS 144A
11.000%, 4/23/30(2)
|
83
|
63
|
|
|
|
1,466
|
|
|
|
|
|
|
||
|
Ukraine—0.3%
|
|
|
|
Metinvest B.V.
|
|
|
|
144A 7.650%, 10/1/27(2) |
85
|
82
|
|
144A 7.750%, 10/17/29(2) |
64
|
58
|
|
MHP Lux S.A. RegS
10.500%, 7/28/29(4)
|
200
|
202
|
|
NPC Ukrenergo 144A
6.875%, 11/9/28(2)(6)
|
502
|
496
|
|
VF Ukraine PAT via VFU Funding plc 144A
9.625%, 2/11/27(2)(3)
|
150
|
149
|
|
|
|
987
|
|
|
|
|
|
|
||
|
United Arab Emirates—0.0%
|
|
|
|
Aldar Properties PJSC 144A
5.875%, 4/14/56(2)
|
149
|
138
|
|
Uzbekistan—0.6%
|
|
|
|
Uzbekneftegaz JSC 144A
8.750%, 5/7/30(2)
|
1,951
|
2,090
|
|
Venezuela—2.1%
|
|
|
|
Petroleos de Venezuela S.A.
|
|
|
|
RegS 9.000%, 11/17/21(4)(6) |
11,769
|
5,339
|
|
RegS 12.750%, 2/17/22(4)(6) |
3,730
|
1,940
|
|
|
|
7,279
|
|
|
|
|
|
|
||
|
Vietnam—0.0%
|
|
|
|
Mong Duong Finance Holdings B.V. 144A
5.125%, 5/7/29(2)
|
151
|
148
|
|
Total Corporate Bonds and Notes
(Identified Cost $59,200)
|
62,301
|
|
|
|
Shares
|
|
|
Affiliated Mutual Funds—1.6%
|
||
|
Fixed Income Funds—1.6%
|
|
|
|
Virtus Stone Harbor Emerging Markets Bond Fund
Class I(12)(13)
|
258,920
|
2,082
|
|
|
Shares
|
Value
|
|
Fixed Income Funds—continued
|
|
|
|
Virtus Stone Harbor Local Markets Fund Class I(12)(13)
|
399,863
|
$3,511
|
|
Total Affiliated Mutual Funds
(Identified Cost $5,215)
|
5,593
|
|
|
|
Par Value(1)
|
|
|
Credit Linked Notes—0.4%
|
||
|
Iraq—0.4%
|
|
|
|
Republic of Iraq
|
|
|
|
(Counterparty: BOA)
2.536%, 1/1/28(14)
|
97,154
JPY
|
600
|
|
(Counterparty: BOA)
4.558%, 1/1/28(14)(15)
|
44,236
JPY
|
270
|
|
(Counterparty: BOA)
4.739%, 1/6/28(14)(15)
|
95,517
JPY
|
589
|
|
Total Credit Linked Notes
(Identified Cost $2,365)
|
1,459
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
Total Long-Term Investments—96.0%
(Identified Cost $324,390)
|
329,293
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
TOTAL INVESTMENTS—96.0%
(Identified Cost $324,390)
|
$329,293
|
|
|
Other assets and liabilities, net—4.0%
|
13,602
|
|
|
NET ASSETS—100.0%
|
$342,895
|
|
|
Abbreviations:
|
|
|
DAC
|
Designated Activity Company
|
|
JSC
|
Joint Stock Company
|
|
LLC
|
Limited Liability Company
|
|
PIK
|
Payment-in-Kind Security
|
|
PJSC
|
Public Joint Stock Company
|
|
plc
|
Public Limited Company
|
|
S.a.r.l.
|
Société à responsabilité limitée
|
|
Footnote Legend:
|
|
|
(1)
|
Par Value disclosed in foreign currency is reported in thousands.
|
|
(2)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933.
These securities may be resold in transactions exempt from registration,
normally to qualified institutional buyers. At August 31, 2026, these securities
amounted to a value of $151,291 or 44.1% of net assets.
|
|
(3)
|
This Note was issued for the sole purpose of funding a leveraged loan between
the issuer and the borrower. As the credit risk for this security lies solely with
the
borrower, the name represented here is that of the borrower.
|
|
(4)
|
Regulation S security. Security is offered and sold outside of the United States;
therefore, it is exempt from registration with the SEC under Rules 903 and 904 of
the Securities Act of 1933.
|
|
(5)
|
Represents step coupon bond. Rate shown reflects the rate in effect as of
August 31, 2026.
|
|
(6)
|
Security in default; no interest payments are being received.
|
|
(7)
|
The Fund is unable to trade and repatriate proceeds due to U.S. sanctions related
to the Russia/Ukraine war.
|
|
(8)
|
Amount is less than $500 (not in thousands).
|
|
(9)
|
100% of the income received was in PIK.
|
|
(10)
|
No contractual maturity date.
|
|
(11)
|
Issued with a zero coupon. Income is recognized through the accretion of
discount.
|
|
(12)
|
Affiliated investment.
|
|
(13)
|
Shares of this fund are publicly offered, and its prospectus and annual report are
publicly available.
|
|
(14)
|
The value of this security was determined using significant unobservable inputs
and is reported as a Level 3 security in the Fair Value Hierarchy table located after
the Schedule of Investments.
|
|
(15)
|
Variable rate security. Rate disclosed is as of August 31, 2026. Information in
parenthesis represents benchmark and reference rate for each security. Certain
variable rate securities are not based on a published reference rate and spread but
are determined by the issuer or agent and are based on current market
conditions, or, for mortgage-backed securities, are impacted by the individual
mortgages which are paying off over time. These securities do not indicate a
reference rate and spread in their descriptions.
|
|
Counterparties:
|
|
|
BOA
|
Bank of America
|
|
JPM
|
JPMorgan Chase Bank N.A.
|
|
Foreign Currencies:
|
|
|
BRL
|
Brazilian Real
|
|
EUR
|
Euro
|
|
JPY
|
Japanese Yen
|
|
USD
|
United States Dollar
|
|
Country Weightings†
|
|
|
Mexico
|
8
%
|
|
Saudi Arabia
|
6
|
|
Turkey
|
5
|
|
Brazil
|
4
|
|
Indonesia
|
4
|
|
Argentina
|
4
|
|
Ecuador
|
4
|
|
Other
|
65
|
|
Total
|
100
%
|
|
† % of total investments as of August 31, 2026.
|
|
|
Forward foreign currency exchange contracts as of August 31, 2026 were as follows:
|
|||||||
|
Currency
Purchased
|
Currency
Amount
Purchased
|
Currency
Sold
|
Currency
Amount
Sold
|
Counterparty
|
Settlement
Date
|
Unrealized
Appreciation
|
Unrealized
Depreciation
|
|
BRL
|
10,900
|
USD
|
2,067
|
JPM
|
09/02/26
|
$36
|
$—
|
|
EUR
|
623
|
USD
|
714
|
JPM
|
10/09/26
|
11
|
—
|
|
JPY
|
84,423
|
USD
|
523
|
JPM
|
10/09/26
|
6
|
—
|
|
USD
|
2,066
|
BRL
|
10,900
|
JPM
|
09/02/26
|
—
|
(36
)
|
|
USD
|
8,879
|
EUR
|
7,735
|
JPM
|
10/09/26
|
—
|
(120
)
|
|
USD
|
1,968
|
JPY
|
316,312
|
JPM
|
10/09/26
|
—
|
(18
)
|
|
Total
|
|
|
|
|
|
$53
|
$(174
)
|
|
|
Total
Value at
August 31, 2026
|
Level 1
Quoted Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Assets:
|
|
|
|
|
|
Debt Instruments:
|
|
|
|
|
|
Foreign Government Securities
|
$259,510
|
$—
|
$259,510
|
$—
|
|
Convertible Bonds and Notes
|
430
|
—
|
430
|
—
|
|
Corporate Bonds and Notes
|
62,301
|
—
|
62,301
|
—
|
|
Credit Linked Notes
|
1,459
|
—
|
—
|
1,459
|
|
Affiliated Mutual Funds
|
5,593
|
5,593
|
—
|
—
|
|
Other Financial Instruments:
|
|
|
|
|
|
Forward Foreign Currency Exchange Contracts*
|
53
|
—
|
53
|
—
|
|
Total Assets
|
329,346
|
5,593
|
322,294
|
1,459
|
|
Liabilities:
|
|
|
|
|
|
Other Financial Instruments:
|
|
|
|
|
|
Forward Foreign Currency Exchange Contracts*
|
(174
)
|
—
|
(174
)
|
—
|
|
Total Liabilities
|
(174
)
|
—
|
(174
)
|
—
|
|
Total Investments
|
$329,172
|
$5,593
|
$322,120
|
$1,459
|
|
*
|
Forward Foreign Currency Exchange Contracts are valued at the net unrealized appreciation
(depreciation) on the instrument by level and counterparty.
|