Principal
Value
Foreign
Bonds
–
97.1%
Basic
Materials
–
3.7%
Aris
Mining
Corp.,
6.88%,
8/9/2026
...........................................
$
200,000
$
199,442
LD
Celulose
International
GmbH,
7.95%,
1/26/2032,
144A(a)
.......................
200,000
205,425
404,867
Communications
–
6.7%
Colombia
Telecomunicaciones
SA
ESP,
4.95%,
7/17/2030
.........................
408,000
349,656
Telecommunications
Services
of
Trinidad
&
Tobago
Ltd.,
8.88%,
10/18/2029
...........
200,000
203,201
Telecomunicaciones
Digitales
SA,
4.50%,
1/30/2030
.............................
200,000
183,061
735,918
Energy
–
13.4%
Ecopetrol
SA,
6.88%,
4/29/2030
..............................................
200,000
199,696
Ecopetrol
SA,
8.38%,
1/19/2036
..............................................
300,000
307,013
Empresa
Generadora
de
Electricidad
Haina
SA,
5.63%,
11/8/2028
..................
250,000
236,491
Petroleos
Mexicanos
,
6.63%,
6/15/2035
.......................................
170,000
138,951
Petroleos
Mexicanos
,
7.69%,
1/23/2050
.......................................
500,000
391,005
UEP
Penonome
II
SA,
6.50%,
10/1/2038
.......................................
215,443
187,217
1,460,373
Financial
–
16.8%
Bancolombia
SA,
8.63%,
(US
5
Year
CMT
T-Note
+
4.32%),
12/24/2034(b)
............
200,000
212,580
Dominican
Republic
Central
Bank
Notes,
9.00%,
12/11/2026
.......................
DOP
25,000,000
400,116
Dominican
Republic
Central
Bank
Notes,
11.00%,
9/15/2028
.......................
DOP
60,000,000
1,010,623
Promerica
Financial
Corp,
10.75%,
8/14/2028
...................................
200,000
213,212
1,836,531
Government
–
45.1%
Bahamas
Government
International
Bond,
6.00%,
11/21/2028
......................
500,000
471,175
Colombia
Government
International
Bond,
8.75%,
11/14/2053
......................
460,000
506,076
Dominican
Republic
International
Bond,
10.75%,
6/1/2036
.........................
DOP
141,600,000
2,513,033
El
Salvador
Government
International
Bond,
7.65%,
6/15/2035
.....................
250,000
216,467
El
Salvador
Government
International
Bond,
7.63%,
2/1/2041
......................
250,000
204,902
Panama
Government
International
Bond,
3.75%,
3/16/2025
........................
350,000
348,156
Panama
Government
International
Bond,
3.16%,
1/23/2030
........................
400,000
358,849
Panama
Government
International
Bond,
6.70%,
1/26/2036
........................
300,000
314,215
4,932,873
Utilities
–
11.4%
AES
Espana
BV,
5.70%,
5/4/2028
............................................
180,000
171,779
Comision
Federal
de
Electricidad
,
6.45%,
1/24/2035,
144A(a)
......................
400,000
399,700
Empresas
Publicas
de
Medellin
ESP,
4.25%,
7/18/2029
...........................
200,000
183,090
Energuate
Trust,
5.88%,
5/3/2027
............................................
200,000
197,191
Investment
Energy
Resources
Ltd.,
6.25%,
4/26/2029
............................
200,000
197,276
National
Gas
Co
of
Trinidad
&
Tobago
Ltd.,
6.05%,
1/15/2036
......................
100,000
94,318
1,243,354
Total
Foreign
Bonds
(Cost
$10,437,135)
...........................................
10,613,916
U.S.
Treasury
Bills
–
4.8%
U.S.
Treasury
Bill,
4.99%,
10/1/2024(c)
........................................
$
185,000
185,000
U.S.
Treasury
Bill,
4.70%,
10/22/2024(c)
.......................................
130,000
129,641
U.S.
Treasury
Bill,
4.81%,
10/29/2024(c)
.......................................
205,000
204,246
Total
U.S.
Treasury
Bills
(Cost
$518,898)
...........................................
518,887
