UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03466
Fidelity Hanover Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | December 31 |
Date of reporting period: | June 30, 2024 |
Item 1.
Reports to Stockholders
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Emerging Markets Debt Central Fund Fidelity® Emerging Markets Debt Central Fund true | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Emerging Markets Debt Central Fund | $ 1 | 0.02% |
KEY FACTS | ||
Fund Size | $2,114,976,064 | |
Number of Holdings | 508 | |
Portfolio Turnover | 15% |
(as of June 30, 2024)
U.S. Government and U.S. Government Agency Obligations | 5.0 |
AA | 6.8 |
A | 9.3 |
BBB | 20.6 |
BB | 24.0 |
B | 17.2 |
CCC,CC,C | 10.5 |
D | 0.1 |
Not Rated | 3.8 |
Equities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 2.7 |
QUALITY DIVERSIFICATION (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Foreign Government and Government Agency Obligations | 45.0 |
Corporate Bonds | 44.0 |
U.S. Treasury Obligations | 5.0 |
Preferred Securities | 3.3 |
Common Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 2.7 |
ASSET ALLOCATION (% of Fund's net assets) |
Mexico | 9.0 |
United States | 7.9 |
Brazil | 7.2 |
Saudi Arabia | 5.4 |
Turkey | 4.9 |
United Arab Emirates | 4.6 |
Colombia | 4.3 |
Indonesia | 4.0 |
Chile | 3.9 |
Others | 48.8 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Republic of Turkiye/The | 4.2 | |
Petroleos Mexicanos | 3.4 | |
US Treasury Bonds | 3.3 | |
Argentine Republic | 2.9 | |
Indonesia Government | 2.3 | |
Dominican Republic | 2.3 | |
Saudi Arabian Oil Co | 2.0 | |
United Mexican States | 1.9 | |
State of Qatar | 1.8 | |
Colombian Republic | 1.8 | |
25.9 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916143.100 2276-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Emerging Markets Debt Local Currency Central Fund Fidelity® Emerging Markets Debt Local Currency Central Fund true | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Emerging Markets Debt Local Currency Central Fund | $ 1 | 0.02% |
KEY FACTS | ||
Fund Size | $259,672,836 | |
Number of Holdings | 235 | |
Portfolio Turnover | 50% |
(as of June 30, 2024)
AAA | 1.1 |
AA | 4.9 |
A | 4.2 |
BBB | 18.6 |
BB | 12.9 |
Not Rated | 43.3 |
Short-Term Investments and Net Other Assets (Liabilities) | 15.0 |
QUALITY DIVERSIFICATION (% of Fund's net assets) |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Foreign Government and Government Agency Obligations | 83.1 |
Corporate Bonds | 1.4 |
U.S. Treasury Obligations | 0.5 |
Short-Term Investments and Net Other Assets (Liabilities) | 15.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 15.5 |
Malaysia | 10.1 |
Mexico | 9.5 |
Brazil | 9.2 |
South Africa | 8.4 |
Indonesia | 8.4 |
Poland | 4.7 |
China | 4.7 |
Czech Republic | 4.6 |
Others | 24.9 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Malaysia Government | 10.1 | |
United Mexican States | 9.5 | |
South African Republic | 8.4 | |
Indonesia Government | 8.4 | |
Republic of Poland | 4.7 | |
Peoples Republic of China | 4.7 | |
Czech Republic | 4.6 | |
Romanian Republic | 4.6 | |
Brazil Notas do Tesouro Nacional Serie F | 4.4 | |
Colombian Republic | 4.4 | |
63.8 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916195.100 6286-TSRS-0824 |
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Financial Statements and Financial Highlights for Open-End Management Investment Companies
Contents
Nonconvertible Bonds - 43.4% | |||
Principal Amount (a) | Value ($) | ||
Azerbaijan - 0.6% | |||
Southern Gas Corridor CJSC 6.875% 3/24/26 (b) | 9,935,000 | 10,003,303 | |
State Oil Co. of Azerbaijan Republic 6.95% 3/18/30 (Reg. S) | 2,515,000 | 2,571,588 | |
TOTAL AZERBAIJAN | 12,574,891 | ||
Bahrain - 0.4% | |||
The Oil and Gas Holding Co.: | |||
7.5% 10/25/27 (b) | 5,740,000 | 5,849,419 | |
8.375% 11/7/28 (b) | 1,985,000 | 2,110,055 | |
TOTAL BAHRAIN | 7,959,474 | ||
Brazil - 5.3% | |||
Adecoagro SA 6% 9/21/27 (b) | 5,465,000 | 5,280,556 | |
Aegea Finance SARL 9% 1/20/31 (b) | 1,740,000 | 1,800,900 | |
Azul Secured Finance LLP: | |||
11.5% 5/28/29 (b) | 6,902,629 | 5,694,669 | |
11.93% 8/28/28 (b) | 2,850,000 | 2,765,391 | |
Banco Do Brasil SA 6% 3/18/31 (b) | 4,020,000 | 3,950,906 | |
Braskem Netherlands BV: | |||
5.875% 1/31/50 (b) | 2,860,000 | 2,108,392 | |
7.25% 2/13/33 (b) | 3,610,000 | 3,402,425 | |
8.5% 1/12/31 (b) | 5,705,000 | 5,822,666 | |
Cosan Luxembourg SA 7.25% 6/27/31 (b) | 2,870,000 | 2,895,830 | |
CSN Inova Ventures 6.75% 1/28/28 (b) | 4,745,000 | 4,507,750 | |
CSN Resources SA: | |||
5.875% 4/8/32 (b) | 3,790,000 | 3,162,281 | |
8.875% 12/5/30 (b) | 1,575,000 | 1,565,156 | |
Embraer Netherlands Finance BV: | |||
5.4% 2/1/27 | 1,875,000 | 1,857,422 | |
6.95% 1/17/28 (b) | 2,725,000 | 2,800,789 | |
7% 7/28/30 (b) | 4,705,000 | 4,909,373 | |
Guara Norte SARL 5.198% 6/15/34 (b) | 4,476,151 | 4,124,773 | |
MARB BondCo PLC 3.95% 1/29/31 (b) | 3,925,000 | 3,252,844 | |
MC Brazil Downstream Trading SARL 7.25% 6/30/31 (b) | 9,334,561 | 8,263,420 | |
Minerva Luxembourg SA 8.875% 9/13/33 (b) | 3,080,000 | 3,180,892 | |
NBM U.S. Holdings, Inc. 6.625% 8/6/29 (b) | 6,505,000 | 6,423,688 | |
Nexa Resources SA: | |||
6.5% 1/18/28 (b) | 3,875,000 | 3,901,641 | |
6.75% 4/9/34 (b) | 1,420,000 | 1,433,632 | |
Petrorio Luxembourg Holding SA 6.125% 6/9/26 (b) | 2,225,000 | 2,176,328 | |
Raizen Fuels Finance SA 6.95% 3/5/54 (b) | 3,465,000 | 3,516,975 | |
Samarco Mineracao SA 9% 6/30/31 pay-in-kind (b)(c) | 9,960,274 | 9,246,869 | |
Sitios Latinoamerica S.A.B. de CV 5.375% 4/4/32 (b) | 3,575,000 | 3,314,695 | |
Suzano Austria GmbH 3.75% 1/15/31 | 2,340,000 | 2,038,140 | |
Vale Overseas Ltd. 6.4% 6/28/54 | 4,850,000 | 4,800,045 | |
Yinson Boronia Production BV 8.947% 7/31/42 (b) | 4,505,000 | 4,536,535 | |
TOTAL BRAZIL | 112,734,983 | ||
Burkina Faso - 0.2% | |||
Endeavour Mining PLC 5% 10/14/26 (b) | 5,220,000 | 4,949,213 | |
Cambodia - 0.2% | |||
NagaCorp Ltd. 7.95% 7/6/24 (Reg. S) | 4,110,000 | 4,082,463 | |
Chile - 2.3% | |||
Antofagasta PLC: | |||
2.375% 10/14/30 (b) | 7,745,000 | 6,440,452 | |
5.625% 5/13/32 (b) | 2,640,000 | 2,632,575 | |
Chile Electricity LUX MPC SARL 6.01% 1/20/33 (b) | 1,750,000 | 1,770,685 | |
Corporacion Nacional del Cobre de Chile (Codelco): | |||
3% 9/30/29 (b) | 1,175,000 | 1,036,938 | |
3.15% 1/14/30 (b) | 3,075,000 | 2,718,492 | |
3.7% 1/30/50 (b) | 7,190,000 | 4,902,681 | |
5.125% 2/2/33 (b) | 2,775,000 | 2,631,047 | |
5.95% 1/8/34 (b) | 2,985,000 | 2,971,568 | |
6.3% 9/8/53 (b) | 2,750,000 | 2,711,328 | |
6.44% 1/26/36 (b) | 1,925,000 | 1,979,141 | |
Empresa Nacional de Petroleo 6.15% 5/10/33 (b) | 1,195,000 | 1,192,610 | |
Inversiones CMPC SA 3% 4/6/31 (b) | 2,340,000 | 1,985,344 | |
Sable International Finance Ltd. 5.75% 9/7/27 (b) | 5,292,000 | 5,098,511 | |
VTR Comunicaciones SpA: | |||
4.375% 4/15/29 (b) | 1,645,000 | 1,423,180 | |
5.125% 1/15/28 (b) | 7,560,000 | 6,858,338 | |
VTR Finance BV 6.375% 7/15/28 (b) | 3,510,000 | 3,055,894 | |
TOTAL CHILE | 49,408,784 | ||
China - 2.6% | |||
Alibaba Group Holding Ltd. 2.125% 2/9/31 | 3,260,000 | 2,691,228 | |
ENN Clean Energy International Investment Ltd. 3.375% 5/12/26 (b) | 4,855,000 | 4,628,939 | |
ENN Energy Holdings Ltd. 4.625% 5/17/27 (b) | 5,425,000 | 5,311,414 | |
JD.com, Inc. 3.375% 1/14/30 | 7,905,000 | 7,201,929 | |
Lenovo Group Ltd.: | |||
3.421% 11/2/30 (b) | 5,335,000 | 4,709,805 | |
5.875% 4/24/25 (Reg. S) | 1,295,000 | 1,292,915 | |
Meituan: | |||
2.125% 10/28/25 (b) | 3,045,000 | 2,907,792 | |
3.05% 10/28/30 (b) | 3,705,000 | 3,187,458 | |
Prosus NV: | |||
2.031% 8/3/32 (Reg. S) | EUR | 2,295,000 | 1,993,743 |
3.061% 7/13/31 (b) | 1,850,000 | 1,533,188 | |
3.68% 1/21/30 (b) | 4,055,000 | 3,597,545 | |
4.027% 8/3/50 (b) | 6,570,000 | 4,488,131 | |
4.193% 1/19/32 (b) | 2,005,000 | 1,772,545 | |
Tencent Holdings Ltd.: | |||
1.81% 1/26/26 (b) | 2,605,000 | 2,469,866 | |
2.39% 6/3/30 (b) | 5,400,000 | 4,638,222 | |
3.975% 4/11/29 (b) | 1,960,000 | 1,860,163 | |
TOTAL CHINA | 54,284,883 | ||
Colombia - 2.4% | |||
Aris Mining Corp. 6.875% 8/9/26 (b) | 6,700,000 | 6,310,563 | |
Bancolombia SA 8.625% 12/24/34 (c) | 2,800,000 | 2,853,200 | |
Canacol Energy Ltd. 5.75% 11/24/28 (b) | 2,525,000 | 1,342,195 | |
Colombia Telecomunicaciones SA 4.95% 7/17/30 (b) | 2,325,000 | 1,816,406 | |
Ecopetrol SA: | |||
4.625% 11/2/31 | 3,870,000 | 3,172,239 | |
8.875% 1/13/33 | 9,290,000 | 9,591,925 | |
EnfraGen Energia Sur SA 5.375% 12/30/30 (b) | 10,370,000 | 8,675,153 | |
GeoPark Ltd. 5.5% 1/17/27 (b) | 4,900,000 | 4,445,219 | |
Gran Tierra Energy, Inc. 9.5% 10/15/29 (b) | 2,645,000 | 2,524,653 | |
Oleoducto Central SA 4% 7/14/27 (b) | 4,675,000 | 4,333,725 | |
Termocandelaria Power Ltd. 7.875% 1/30/29 (b) | 4,417,000 | 4,429,423 | |
TOTAL COLOMBIA | 49,494,701 | ||
Costa Rica - 0.2% | |||
Liberty Costa Rica SR SF 10.875% 1/15/31 (b) | 4,075,000 | 4,322,047 | |
Czech Republic - 0.2% | |||
Energo-Pro A/S 8.5% 2/4/27 (b) | 4,600,000 | 4,598,563 | |
Dominican Republic - 0.1% | |||
Aeropuertos Dominicanos Siglo XXI SA 7% 6/30/34 (b)(d) | 2,840,000 | 2,861,584 | |
Ghana - 1.2% | |||
Kosmos Energy Ltd.: | |||
7.125% 4/4/26 (b) | 14,130,000 | 13,926,881 | |
7.5% 3/1/28 (b) | 945,000 | 901,589 | |
Tullow Oil PLC: | |||
7% 3/1/25 (b) | 1,285,000 | 1,231,592 | |
10.25% 5/15/26 (b) | 8,544,375 | 8,098,465 | |
TOTAL GHANA | 24,158,527 | ||
Guatemala - 1.1% | |||
Central American Bottling Corp. 5.25% 4/27/29 (b) | 5,695,000 | 5,296,350 | |
CT Trust 5.125% 2/3/32 (b) | 7,360,000 | 6,502,560 | |
Investment Energy Resources Ltd. 6.25% 4/26/29 (b) | 5,270,000 | 4,962,034 | |
Millicom International Cellular SA: | |||
4.5% 4/27/31 (b) | 3,345,000 | 2,872,519 | |
7.375% 4/2/32 (b) | 2,545,000 | 2,537,365 | |
TOTAL GUATEMALA | 22,170,828 | ||
Hungary - 0.2% | |||
Magyar Export-Import Bank 6.125% 12/4/27 (b) | 1,825,000 | 1,831,273 | |
OTP Bank PLC 8.75% 5/15/33 (Reg. S) (c) | 2,150,000 | 2,250,109 | |
TOTAL HUNGARY | 4,081,382 | ||
India - 0.6% | |||
CA Magnum Holdings 5.375% 10/31/26 (b) | 6,365,000 | 6,088,520 | |
Shriram Finance Ltd.: | |||
4.15% 7/18/25 (b) | 5,205,000 | 5,078,141 | |
6.625% 4/22/27 (b) | 2,175,000 | 2,173,641 | |
TOTAL INDIA | 13,340,302 | ||
Indonesia - 1.7% | |||
Medco Laurel Tree PTE Ltd. 6.95% 11/12/28 (b) | 6,620,000 | 6,466,813 | |
Medco Maple Tree Pte. Ltd. 8.96% 4/27/29 (b) | 5,210,000 | 5,450,963 | |
Medco Oak Tree Pte Ltd. 7.375% 5/14/26 (b) | 597,000 | 600,731 | |
PT Adaro Indonesia 4.25% 10/31/24 (b) | 5,325,000 | 5,272,123 | |
PT Freeport Indonesia: | |||
4.763% 4/14/27 (b) | 2,350,000 | 2,300,321 | |
5.315% 4/14/32 (b) | 3,980,000 | 3,851,645 | |
6.2% 4/14/52 (b) | 2,720,000 | 2,664,750 | |
PT Indonesia Asahan Aluminium 5.45% 5/15/30 (b) | 6,445,000 | 6,316,100 | |
PT Pertamina Geothermal Energy 5.15% 4/27/28 (b) | 1,940,000 | 1,921,813 | |
PT Pertamina Persero 4.175% 1/21/50 (b) | 2,365,000 | 1,824,006 | |
TOTAL INDONESIA | 36,669,265 | ||
Israel - 1.5% | |||
Energean Israel Finance Ltd. 4.875% 3/30/26 (Reg. S) (b) | 7,160,000 | 6,748,300 | |
Energean PLC 6.5% 4/30/27 (b) | 5,725,000 | 5,636,978 | |
Israel Electric Corp. Ltd. 3.75% 2/22/32 (Reg. S) (b) | 6,285,000 | 5,163,913 | |
Leviathan Bond Ltd. 6.125% 6/30/25 (Reg. S) (b) | 5,160,000 | 4,994,777 | |
Teva Pharmaceutical Finance Netherlands III BV: | |||
4.75% 5/9/27 | 2,895,000 | 2,789,806 | |
7.875% 9/15/29 | 5,240,000 | 5,629,563 | |
TOTAL ISRAEL | 30,963,337 | ||
Kazakhstan - 0.5% | |||
KazMunaiGaz National Co.: | |||
3.5% 4/14/33 (b) | 3,745,000 | 3,067,389 | |
5.375% 4/24/30 (b) | 685,000 | 668,303 | |
5.75% 4/19/47 (b) | 1,885,000 | 1,644,663 | |
Tengizchevroil Finance Co. International Ltd. 3.25% 8/15/30 (b) | 6,950,000 | 5,738,094 | |
TOTAL KAZAKHSTAN | 11,118,449 | ||
Korea (South) - 0.2% | |||
POSCO: | |||
5.75% 1/17/28 (b) | 2,950,000 | 2,988,989 | |
5.875% 1/17/33 (b) | 1,750,000 | 1,800,236 | |
TOTAL KOREA (SOUTH) | 4,789,225 | ||
Kuwait - 0.4% | |||
MEGlobal BV: | |||
2.625% 4/28/28 (b) | 2,960,000 | 2,656,230 | |
4.25% 11/3/26 (b) | 2,425,000 | 2,346,491 | |
MEGlobal Canada, Inc. 5% 5/18/25 (b) | 3,750,000 | 3,712,500 | |
TOTAL KUWAIT | 8,715,221 | ||
Malaysia - 0.9% | |||
GENM Capital Labuan Ltd. 3.882% 4/19/31 (b) | 5,185,000 | 4,536,875 | |
MISC Capital Two (Labuan) Ltd.: | |||
3.625% 4/6/25 (b) | 3,690,000 | 3,633,857 | |
3.75% 4/6/27 (b) | 5,890,000 | 5,635,493 | |
Petronas Capital Ltd.: | |||
3.404% 4/28/61 (b) | 4,990,000 | 3,291,703 | |
3.5% 4/21/30 (b) | 2,515,000 | 2,305,727 | |
TOTAL MALAYSIA | 19,403,655 | ||
Mauritius - 0.3% | |||
AXIAN Telecom 7.375% 2/16/27 (b) | 5,485,000 | 5,344,803 | |
Mexico - 5.6% | |||
Bimbo Bakeries U.S.A., Inc.: | |||
5.375% 1/9/36 (b) | 1,845,000 | 1,796,569 | |
6.4% 1/15/34 (b) | 3,780,000 | 3,991,444 | |
Braskem Idesa SAPI: | |||
6.99% 2/20/32 (b) | 1,965,000 | 1,495,365 | |
7.45% 11/15/29 (b) | 6,340,000 | 5,135,400 | |
Buffalo Energy Mexico Holdings 7.875% 2/15/39 (b) | 3,075,000 | 3,189,352 | |
FEL Energy VI SARL 5.75% 12/1/40 (b) | 2,770,304 | 2,494,139 | |
Fresnillo PLC 4.25% 10/2/50 (b) | 3,785,000 | 2,786,706 | |
GRUP KUO, S.A.B. de CV 5.75% 7/7/27 (b) | 3,380,000 | 3,263,525 | |
Grupo Axo SAPI de CV 5.75% 6/8/26 (b) | 3,380,000 | 3,407,885 | |
Metalsa SA de CV 3.75% 5/4/31 (b) | 4,945,000 | 3,948,583 | |
Orbia Advance Corp. S.A.B. de CV: | |||
1.875% 5/11/26 (b) | 6,640,000 | 6,186,488 | |
2.875% 5/11/31 (b) | 3,435,000 | 2,839,242 | |
Petroleos Mexicanos: | |||
6.5% 6/2/41 | 2,000,000 | 1,360,000 | |
6.625% 6/15/35 | 21,045,000 | 15,967,894 | |
6.7% 2/16/32 | 11,627,000 | 9,727,962 | |
6.75% 9/21/47 | 8,402,000 | 5,535,826 | |
6.875% 8/4/26 | 4,835,000 | 4,726,213 | |
6.95% 1/28/60 | 5,655,000 | 3,713,921 | |
7.69% 1/23/50 | 39,799,000 | 28,686,323 | |
TV Azteca SA de CV 8.25% (Reg. S) (e) | 19,500,000 | 7,579,845 | |
TOTAL MEXICO | 117,832,682 | ||
Morocco - 0.6% | |||
OCP SA: | |||
3.75% 6/23/31 (b) | 3,820,000 | 3,301,913 | |
5.125% 6/23/51 (b) | 2,190,000 | 1,648,659 | |
6.75% 5/2/34 (b) | 2,485,000 | 2,550,231 | |
6.875% 4/25/44 (b) | 3,920,000 | 3,753,400 | |
7.5% 5/2/54 (b) | 1,890,000 | 1,925,759 | |
TOTAL MOROCCO | 13,179,962 | ||
Nigeria - 0.6% | |||
Access Bank PLC 6.125% 9/21/26 (b) | 4,447,000 | 4,231,598 | |
IHS Holding Ltd. 5.625% 11/29/26 (b) | 4,305,000 | 4,085,714 | |
IHS Netherlands Holdco BV 8% 9/18/27 (b) | 3,265,000 | 3,170,111 | |
TOTAL NIGERIA | 11,487,423 | ||
Oman - 0.2% | |||
Lamar Funding Ltd. 3.958% 5/7/25 (b) | 4,980,000 | 4,855,500 | |
Panama - 0.8% | |||
Aeropuerto Internacional de Tocumen SA 5.125% 8/11/61 (b) | 2,115,000 | 1,559,813 | |
C&W Senior Finance Ltd. 6.875% 9/15/27 (b) | 5,915,000 | 5,675,257 | |
Telecomunicaciones Digitales SA 4.5% 1/30/30 (b) | 9,720,000 | 8,663,436 | |
TOTAL PANAMA | 15,898,506 | ||
Paraguay - 0.3% | |||
Telefonica Celular del Paraguay SA 5.875% 4/15/27 (b) | 6,185,000 | 6,051,636 | |
Peru - 0.6% | |||
Auna SA 10% 12/15/29 (b) | 2,724,200 | 2,783,397 | |
Camposol SA 6% 2/3/27 (b) | 3,128,000 | 2,643,160 | |
Compania de Minas Buenaventura SAA 5.5% 7/23/26 (b) | 3,690,000 | 3,564,309 | |
Volcan Compania Minera SAA 4.375% 2/11/26 (b) | 4,550,000 | 3,527,672 | |
TOTAL PERU | 12,518,538 | ||
Puerto Rico - 0.3% | |||
LCPR Senior Secured Financing DAC 5.125% 7/15/29 (b) | 6,800,000 | 5,638,736 | |
Qatar - 1.8% | |||
QatarEnergy: | |||
1.375% 9/12/26 (b) | 8,475,000 | 7,797,000 | |
2.25% 7/12/31 (b) | 13,045,000 | 10,892,575 | |
3.125% 7/12/41 (b) | 12,920,000 | 9,593,100 | |
3.3% 7/12/51 (b) | 9,635,000 | 6,732,456 | |
Qtel International Finance Ltd. 2.625% 4/8/31 (b) | 4,095,000 | 3,528,098 | |
TOTAL QATAR | 38,543,229 | ||
Russia - 0.0% | |||
TMK Capital SA 4.3% (Reg. S) (e)(f) | 4,020,000 | 603,000 | |
Saudi Arabia - 3.7% | |||
EIG Pearl Holdings SARL 3.545% 8/31/36 (b) | 13,705,000 | 11,777,734 | |
GACI First Investment 5.25% 10/13/32 (Reg. S) | 2,155,000 | 2,143,552 | |
Greensaif Pipelines Bidco SARL: | |||
6.129% 2/23/38 (b) | 9,650,000 | 9,864,109 | |
6.51% 2/23/42 (b) | 2,955,000 | 3,095,363 | |
SA Global Sukuk Ltd. 1.602% 6/17/26 (b) | 8,175,000 | 7,628,297 | |
Saudi Arabian Oil Co.: | |||
2.25% 11/24/30 (b) | 10,775,000 | 9,084,672 | |
3.25% 11/24/50 (b) | 8,390,000 | 5,642,275 | |
3.5% 4/16/29 (b) | 13,480,000 | 12,536,400 | |
3.5% 11/24/70 (b) | 3,270,000 | 2,109,150 | |
4.25% 4/16/39 (b) | 14,945,000 | 12,983,469 | |
4.375% 4/16/49 (b) | 2,280,000 | 1,874,588 | |
TOTAL SAUDI ARABIA | 78,739,609 | ||
South Africa - 1.8% | |||
Eskom Holdings SOC Ltd.: | |||
6.35% 8/10/28 (b) | 5,840,000 | 5,656,274 | |
7.125% 2/11/25 (b) | 7,180,000 | 7,153,075 | |
8.45% 8/10/28 (b) | 2,350,000 | 2,362,484 | |
Liquid Telecommunications Financing PLC 5.5% 9/4/26 (b) | 8,595,000 | 5,447,081 | |
MTN (Mauritius) Investments Ltd. 6.5% 10/13/26 (b) | 3,485,000 | 3,467,575 | |
Sasol Financing U.S.A. LLC: | |||
4.375% 9/18/26 | 8,935,000 | 8,412,861 | |
5.5% 3/18/31 | 2,355,000 | 1,985,458 | |
Stillwater Mining Co. 4% 11/16/26 (b) | 4,255,000 | 3,888,006 | |
TOTAL SOUTH AFRICA | 38,372,814 | ||
Thailand - 0.1% | |||
PTT Treasury Center Co. Ltd. 3.7% 7/16/70 (b) | 2,530,000 | 1,722,095 | |
Turkey - 0.5% | |||
Aydem Yenilenebilir Enerji A/S 7.75% 2/2/27 (b) | 2,520,000 | 2,447,550 | |
Sisecam UK PLC 8.625% 5/2/32 (b) | 5,680,000 | 5,777,625 | |
Vestel Elektonik Sanayi ve Ticaret A/S 9.75% 5/15/29 (b) | 3,045,000 | 3,040,242 | |
TOTAL TURKEY | 11,265,417 | ||
Ukraine - 0.4% | |||
Metinvest BV 8.5% 4/23/26 (Reg. S) | 1,825,000 | 1,460,000 | |
NAK Naftogaz Ukraine: | |||
7.625% 11/8/28 (b) | 2,355,000 | 1,766,250 | |
7.65% (Reg. S) (e) | 6,189,250 | 5,694,110 | |
TOTAL UKRAINE | 8,920,360 | ||
United Arab Emirates - 2.4% | |||
Abu Dhabi Developmental Holding Co. PJSC 5.5% 5/8/34 (b) | 2,220,000 | 2,279,940 | |
Abu Dhabi National Energy Co. PJSC: | |||
4% 10/3/49 (b) | 4,655,000 | 3,763,277 | |
4.696% 4/24/33 (b) | 3,320,000 | 3,237,000 | |
4.875% 4/23/30 (b) | 2,020,000 | 2,016,844 | |
DP World Crescent Ltd. 3.7495% 1/30/30 (b) | 4,165,000 | 3,847,419 | |
DP World Ltd. 5.625% 9/25/48 (b) | 4,230,000 | 4,023,788 | |
Galaxy Pipeline Assets BidCo Ltd.: | |||
2.16% 3/31/34 (b) | 3,286,172 | 2,818,919 | |
2.625% 3/31/36 (b) | 10,925,000 | 8,900,461 | |
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC 7.125% 7/31/26 (b) | 6,160,000 | 6,121,500 | |
MDGH GMTN RSC Ltd.: | |||
2.875% 11/7/29 (b) | 5,770,000 | 5,193,000 | |
4.375% 11/22/33 (b) | 2,925,000 | 2,756,813 | |
5.084% 5/22/53 (b) | 3,770,000 | 3,566,184 | |
5.5% 4/28/33 (b) | 2,985,000 | 3,064,289 | |
TOTAL UNITED ARAB EMIRATES | 51,589,434 | ||
United Kingdom - 0.0% | |||
Celtic Resources Holdings DAC 4.125% (b)(e)(f) | 5,060,000 | 725,402 | |
United States of America - 0.2% | |||
Sagicor Financial Co. Ltd. 5.3% 5/13/28 (b) | 3,595,000 | 3,419,492 | |
Venezuela - 0.2% | |||
Petroleos de Venezuela SA: | |||
5.375% (e) | 4,800,000 | 561,264 | |
5.5% (e) | 315,000 | 36,698 | |
6% (b)(e) | 11,650,000 | 1,380,525 | |
6% (b)(e) | 9,300,000 | 1,102,050 | |
9.75% (b)(e) | 1,265,000 | 172,673 | |
12.75% (b)(e) | 1,258,333 | 179,942 | |
TOTAL VENEZUELA | 3,433,152 | ||
Vietnam - 0.2% | |||
Mong Duong Finance Holdings BV 5.125% 5/7/29 (b) | 4,258,568 | 4,054,955 | |
TOTAL NONCONVERTIBLE BONDS (Cost $1,015,691,352) | 916,878,522 | ||
Government Obligations - 50.6% | |||
Principal Amount (a) | Value ($) | ||
Angola - 0.8% | |||
Angola Republic: | |||
8.25% 5/9/28 (b) | 5,980,000 | 5,613,725 | |
8.75% 4/14/32 (b) | 2,570,000 | 2,275,253 | |
9.375% 5/8/48 (b) | 2,395,000 | 2,003,567 | |
9.5% 11/12/25 (b) | 7,565,000 | 7,671,383 | |
TOTAL ANGOLA | 17,563,928 | ||
Argentina - 3.4% | |||
Argentine Republic: | |||
0.75% 7/9/30 (g) | 54,812,307 | 30,749,704 | |
1% 7/9/29 | 8,025,564 | 4,587,111 | |
3.5% 7/9/41 (g) | 11,065,000 | 4,337,480 | |
3.625% 7/9/35 (g) | 34,047,842 | 14,300,094 | |
4.25% 1/9/38 (g) | 16,906,530 | 7,760,097 | |
Bonos para la Reconstruccion de una Argentina Libre 0% 6/30/25 | 5,120,000 | 4,816,230 | |
Provincia de Cordoba: | |||
6.875% 12/10/25 (b) | 1,237,382 | 1,146,224 | |
6.99% 6/1/27 (b) | 5,456,546 | 4,508,198 | |
TOTAL ARGENTINA | 72,205,138 | ||
Armenia - 0.1% | |||
Republic of Armenia 3.6% 2/2/31 (b) | 2,505,000 | 2,040,792 | |
Bahamas (Nassau) - 0.1% | |||
Bahamian Republic 6% 11/21/28 (b) | 2,980,000 | 2,605,638 | |
Bahrain - 0.1% | |||
Bahrain Kingdom: | |||
5.625% 5/18/34 (b) | 1,330,000 | 1,192,013 | |
7.5% 2/12/36 (b) | 1,925,000 | 1,965,305 | |
TOTAL BAHRAIN | 3,157,318 | ||
Barbados - 0.2% | |||
Barbados Government 6.5% 10/1/29 (b) | 3,535,000 | 3,346,098 | |
Benin - 0.3% | |||
Republic of Benin: | |||
4.875% 1/19/32 (b) | EUR | 3,510,000 | 3,145,842 |
7.96% 2/13/38 (b) | 2,710,000 | 2,515,219 | |
TOTAL BENIN | 5,661,061 | ||
Bermuda - 0.7% | |||
Bermuda Government: | |||
2.375% 8/20/30 (b) | 520,000 | 437,288 | |
3.375% 8/20/50 (b) | 1,825,000 | 1,242,711 | |
3.717% 1/25/27 (b) | 7,240,000 | 6,909,675 | |
4.75% 2/15/29 (b) | 3,960,000 | 3,834,626 | |
5% 7/15/32 (b) | 1,590,000 | 1,535,344 | |
TOTAL BERMUDA | 13,959,644 | ||
Brazil - 1.4% | |||
Brazilian Federative Republic: | |||
3.875% 6/12/30 | 6,525,000 | 5,758,313 | |
6% 10/20/33 | 3,180,000 | 3,055,980 | |
7.125% 1/20/37 | 6,165,000 | 6,442,425 | |
7.125% 5/13/54 | 835,000 | 806,193 | |
8.25% 1/20/34 | 11,540,000 | 13,109,440 | |
TOTAL BRAZIL | 29,172,351 | ||
Chile - 1.3% | |||
Chilean Republic: | |||
2.45% 1/31/31 | 12,490,000 | 10,653,970 | |
2.75% 1/31/27 | 2,635,000 | 2,477,723 | |
3.1% 1/22/61 | 6,730,000 | 4,166,291 | |
3.5% 1/31/34 | 2,180,000 | 1,892,240 | |
4% 1/31/52 | 1,910,000 | 1,476,669 | |
4.34% 3/7/42 | 2,615,000 | 2,257,346 | |
5.33% 1/5/54 | 4,770,000 | 4,507,650 | |
TOTAL CHILE | 27,431,889 | ||
Colombia - 1.9% | |||
Colombian Republic: | |||
3% 1/30/30 | 8,400,000 | 6,867,000 | |
3.125% 4/15/31 | 5,855,000 | 4,613,740 | |
3.25% 4/22/32 | 2,805,000 | 2,151,435 | |
4.125% 5/15/51 | 2,355,000 | 1,414,178 | |
5% 6/15/45 | 9,490,000 | 6,666,725 | |
5.2% 5/15/49 | 6,915,000 | 4,875,075 | |
6.125% 1/18/41 | 440,000 | 369,820 | |
7.375% 9/18/37 | 1,475,000 | 1,431,488 | |
7.5% 2/2/34 | 2,055,000 | 2,056,028 | |
8% 4/20/33 | 1,530,000 | 1,585,845 | |
8% 11/14/35 | 2,860,000 | 2,937,220 | |
8.75% 11/14/53 | 2,695,000 | 2,837,835 | |
Ecopetrol SA 8.375% 1/19/36 | 2,790,000 | 2,738,385 | |
TOTAL COLOMBIA | 40,544,774 | ||
Costa Rica - 0.3% | |||
Costa Rican Republic: | |||
5.625% 4/30/43 (b) | 2,610,000 | 2,326,978 | |
6.125% 2/19/31 (b) | 1,370,000 | 1,374,709 | |
7.3% 11/13/54 (b) | 3,030,000 | 3,156,881 | |
TOTAL COSTA RICA | 6,858,568 | ||
Dominican Republic - 2.3% | |||
Dominican Republic: | |||
4.5% 1/30/30 (b) | 2,550,000 | 2,323,688 | |
4.875% 9/23/32 (b) | 12,965,000 | 11,627,984 | |
5.875% 1/30/60 (b) | 2,970,000 | 2,526,356 | |
5.95% 1/25/27 (b) | 6,155,000 | 6,118,070 | |
6% 7/19/28 (b) | 3,955,000 | 3,919,405 | |
6.5% 2/15/48 (b) | 2,135,000 | 2,025,581 | |
6.6% 6/1/36 (b) | 2,112,000 | 2,104,608 | |
6.85% 1/27/45 (b) | 3,300,000 | 3,238,950 | |
6.875% 1/29/26 (b) | 7,160,000 | 7,240,550 | |
7.05% 2/3/31 (b) | 2,795,000 | 2,877,103 | |
7.45% 4/30/44 (b) | 3,510,000 | 3,685,500 | |
TOTAL DOMINICAN REPUBLIC | 47,687,795 | ||
Ecuador - 0.5% | |||
Ecuador Republic: | |||
3.5% 7/31/35 (b)(g) | 7,555,000 | 3,765,695 | |
6% 7/31/30 (b)(g) | 10,005,000 | 6,331,289 | |
TOTAL ECUADOR | 10,096,984 | ||
Egypt - 1.4% | |||
Arab Republic of Egypt: | |||
, yield at date of purchase 25.8506% to 31.6253% 12/10/24 to 3/18/25 | EGP | 308,800,000 | 5,557,708 |
7.5% 1/31/27 (b) | 7,330,000 | 7,039,091 | |
7.5% 2/16/61 (b) | 5,040,000 | 3,368,925 | |
7.6003% 3/1/29 (b) | 2,520,000 | 2,286,113 | |
7.903% 2/21/48 (b) | 4,675,000 | 3,281,266 | |
8.5% 1/31/47 (b) | 7,100,000 | 5,254,000 | |
8.7002% 3/1/49 (b) | 4,745,000 | 3,535,025 | |
TOTAL EGYPT | 30,322,128 | ||
El Salvador - 0.3% | |||
El Salvador Republic: | |||
0.25% 4/17/30 (b) | 2,770,000 | 80,330 | |
6.375% 1/18/27 (b) | 780,000 | 691,860 | |
7.1246% 1/20/50 (b) | 3,170,000 | 2,007,997 | |
7.625% 2/1/41 (b) | 935,000 | 629,255 | |
7.65% 6/15/35 (b) | 1,490,000 | 1,072,334 | |
9.25% 4/17/30 (b) | 2,770,000 | 2,460,364 | |
TOTAL EL SALVADOR | 6,942,140 | ||
Gabon - 0.3% | |||
Gabonese Republic: | |||
6.625% 2/6/31 (b) | 4,070,000 | 3,072,850 | |
7% 11/24/31 (b) | 3,880,000 | 2,929,400 | |
TOTAL GABON | 6,002,250 | ||
Georgia - 0.2% | |||
Georgia Republic 2.75% 4/22/26 (b) | 3,890,000 | 3,553,272 | |
Ghana - 0.3% | |||
Ghana Republic: | |||
7.75% (b)(e) | 3,290,000 | 1,667,619 | |
8.627% (b)(e) | 2,150,000 | 1,075,000 | |
10.75% 10/14/30 (b) | 4,545,000 | 3,065,034 | |
TOTAL GHANA | 5,807,653 | ||
Guatemala - 0.3% | |||
Guatemalan Republic: | |||
4.9% 6/1/30 (b) | 2,510,000 | 2,375,872 | |
5.375% 4/24/32 (b) | 1,340,000 | 1,270,906 | |
6.125% 6/1/50 (b) | 2,420,000 | 2,184,806 | |
6.6% 6/13/36 (b) | 1,465,000 | 1,467,747 | |
TOTAL GUATEMALA | 7,299,331 | ||
Hungary - 0.8% | |||
Hungarian Republic: | |||
2.125% 9/22/31 (b) | 2,190,000 | 1,732,290 | |
3.125% 9/21/51 (b) | 3,170,000 | 2,012,950 | |
5.25% 6/16/29 (b) | 2,880,000 | 2,826,000 | |
5.5% 6/16/34 (b) | 6,825,000 | 6,626,648 | |
6.125% 5/22/28 (b) | 2,280,000 | 2,322,750 | |
6.75% 9/25/52 (b) | 1,450,000 | 1,554,944 | |
TOTAL HUNGARY | 17,075,582 | ||
Indonesia - 2.3% | |||
Indonesian Republic: | |||
3.2% 9/23/61 | 3,110,000 | 1,999,147 | |
4.35% 1/11/48 | 3,895,000 | 3,329,018 | |
5.125% 1/15/45 (b) | 9,205,000 | 8,931,727 | |
5.25% 1/17/42 (b) | 3,765,000 | 3,690,114 | |
5.95% 1/8/46 (b) | 4,305,000 | 4,552,538 | |
6.625% 2/17/37 (b) | 821,000 | 916,185 | |
6.75% 1/15/44 (b) | 3,510,000 | 4,057,341 | |
7.75% 1/17/38 (b) | 8,515,000 | 10,470,789 | |
8.5% 10/12/35 (b) | 8,850,000 | 11,174,099 | |
TOTAL INDONESIA | 49,120,958 | ||
Israel - 0.3% | |||
Israeli State: | |||
3.375% 1/15/50 | 6,505,000 | 4,149,461 | |
5.75% 3/12/54 | 2,975,000 | 2,673,781 | |
TOTAL ISRAEL | 6,823,242 | ||
Ivory Coast - 0.8% | |||
Ivory Coast: | |||
5.875% 10/17/31 (b) | EUR | 8,785,000 | 8,476,286 |
6.375% 3/3/28 (b) | 5,285,000 | 5,106,631 | |
8.25% 1/30/37 (b) | 2,790,000 | 2,692,350 | |
TOTAL IVORY COAST | 16,275,267 | ||
Jamaica - 0.1% | |||
Jamaican Government 7.875% 7/28/45 | 1,995,000 | 2,318,564 | |
Jordan - 0.5% | |||
Jordanian Kingdom: | |||
4.95% 7/7/25 (b) | 6,345,000 | 6,176,461 | |
7.375% 10/10/47 (b) | 1,240,000 | 1,056,325 | |
7.5% 1/13/29 (b) | 1,060,000 | 1,033,500 | |
7.75% 1/15/28 (b) | 3,150,000 | 3,117,516 | |
TOTAL JORDAN | 11,383,802 | ||
Kenya - 0.3% | |||
Republic of Kenya: | |||
6.3% 1/23/34 (b) | 1,785,000 | 1,332,614 | |
7.25% 2/28/28 (b) | 1,010,000 | 916,891 | |
9.75% 2/16/31 (b) | 3,280,000 | 3,124,200 | |
TOTAL KENYA | 5,373,705 | ||
Lebanon - 0.1% | |||
Lebanese Republic: | |||
5.8% (e) | 7,047,000 | 484,481 | |
6.375% (e) | 8,768,000 | 602,800 | |
TOTAL LEBANON | 1,087,281 | ||
Mexico - 1.9% | |||
United Mexican States: | |||
3.5% 2/12/34 | 6,340,000 | 5,157,590 | |
3.75% 4/19/71 | 8,735,000 | 5,245,368 | |
4.875% 5/19/33 | 3,425,000 | 3,157,850 | |
5.75% 10/12/2110 | 9,315,000 | 7,705,252 | |
6% 5/7/36 | 5,760,000 | 5,610,240 | |
6.05% 1/11/40 | 7,390,000 | 7,159,063 | |
6.338% 5/4/53 | 2,810,000 | 2,644,210 | |
6.35% 2/9/35 | 4,445,000 | 4,469,448 | |
TOTAL MEXICO | 41,149,021 | ||
Mongolia - 0.0% | |||
Mongolia Government 7.875% 6/5/29 (b) | 840,000 | 856,892 | |
Montenegro - 0.2% | |||
Republic of Montenegro 7.25% 3/12/31 (b) | 3,630,000 | 3,643,613 | |
Morocco - 0.2% | |||
Moroccan Kingdom 6.5% 9/8/33 (b) | 4,725,000 | 4,871,180 | |
Nigeria - 1.3% | |||
Republic of Nigeria: | |||
, yield at date of purchase 25.6137% to 28.7481% 3/6/25 to 5/20/25 | NGN | 9,136,190,000 | 5,095,103 |
6.125% 9/28/28 (b) | 8,805,000 | 7,720,884 | |
6.5% 11/28/27 (b) | 2,250,000 | 2,081,953 | |
7.143% 2/23/30 (b) | 3,580,000 | 3,104,531 | |
7.625% 11/21/25 (b) | 4,945,000 | 4,951,181 | |
7.696% 2/23/38 (b) | 2,730,000 | 2,113,191 | |
7.875% 2/16/32 (b) | 1,590,000 | 1,375,350 | |
TOTAL NIGERIA | 26,442,193 | ||
Oman - 1.5% | |||
Sultanate of Oman: | |||
5.375% 3/8/27 (b) | 1,305,000 | 1,293,989 | |
5.625% 1/17/28 (b) | 9,545,000 | 9,533,069 | |
6% 8/1/29 (b) | 5,535,000 | 5,618,025 | |
6.25% 1/25/31 (b) | 3,525,000 | 3,628,547 | |
6.5% 3/8/47 (b) | 1,235,000 | 1,231,913 | |
6.75% 1/17/48 (b) | 9,450,000 | 9,624,234 | |
7% 1/25/51 (b) | 1,060,000 | 1,115,650 | |
TOTAL OMAN | 32,045,427 | ||
Pakistan - 0.6% | |||
Islamic Republic of Pakistan: | |||
6% 4/8/26 (b) | 7,395,000 | 6,648,567 | |
6.875% 12/5/27 (b) | 1,375,000 | 1,186,367 | |
7.375% 4/8/31 (b) | 4,895,000 | 3,850,223 | |
TOTAL PAKISTAN | 11,685,157 | ||
Panama - 1.2% | |||
Panamanian Republic: | |||
2.252% 9/29/32 | 4,345,000 | 3,126,228 | |
3.298% 1/19/33 | 4,585,000 | 3,567,130 | |
3.87% 7/23/60 | 6,150,000 | 3,503,578 | |
4.5% 5/15/47 | 2,510,000 | 1,736,606 | |
4.5% 4/16/50 | 8,075,000 | 5,440,531 | |
6.853% 3/28/54 | 1,865,000 | 1,712,070 | |
7.875% 3/1/57 | 2,695,000 | 2,801,116 | |
8% 3/1/38 | 2,860,000 | 3,014,440 | |
TOTAL PANAMA | 24,901,699 | ||
Paraguay - 0.5% | |||
Republic of Paraguay: | |||
2.739% 1/29/33 (b) | 2,485,000 | 1,998,872 | |
4.95% 4/28/31 (b) | 5,285,000 | 5,042,220 | |
5.4% 3/30/50 (b) | 2,220,000 | 1,918,913 | |
6% 2/9/36 (b) | 1,860,000 | 1,858,838 | |
TOTAL PARAGUAY | 10,818,843 | ||
Peru - 0.6% | |||
Peruvian Republic: | |||
2.783% 1/23/31 | 6,570,000 | 5,627,205 | |
3% 1/15/34 | 4,535,000 | 3,691,773 | |
3.3% 3/11/41 | 4,050,000 | 3,005,859 | |
TOTAL PERU | 12,324,837 | ||
Philippines - 0.8% | |||
Philippine Republic: | |||
2.65% 12/10/45 | 3,325,000 | 2,178,914 | |
2.95% 5/5/45 | 1,655,000 | 1,145,570 | |
5.5% 1/17/48 | 1,885,000 | 1,906,795 | |
5.6% 5/14/49 | 2,820,000 | 2,852,035 | |
5.609% 4/13/33 | 3,005,000 | 3,089,516 | |
5.95% 10/13/47 | 4,915,000 | 5,228,331 | |
TOTAL PHILIPPINES | 16,401,161 | ||
Poland - 0.6% | |||
Bank Gospodarstwa Krajowego: | |||
5.375% 5/22/33 (b) | 1,780,000 | 1,762,912 | |
6.25% 10/31/28 (b) | 1,630,000 | 1,685,599 | |
Polish Government: | |||
5.5% 4/4/53 | 2,005,000 | 1,962,454 | |
5.5% 3/18/54 | 2,745,000 | 2,662,870 | |
5.75% 11/16/32 | 4,200,000 | 4,350,654 | |
TOTAL POLAND | 12,424,489 | ||
Qatar - 1.8% | |||
State of Qatar: | |||
4.4% 4/16/50 (b) | 12,865,000 | 11,280,997 | |
4.625% 6/2/46 (b) | 5,790,000 | 5,305,088 | |
4.817% 3/14/49 (b) | 8,905,000 | 8,328,958 | |
5.103% 4/23/48 (b) | 9,945,000 | 9,683,944 | |
9.75% 6/15/30 (b) | 3,280,000 | 4,135,875 | |
TOTAL QATAR | 38,734,862 | ||
Romania - 0.7% | |||
Romanian Republic: | |||
2% 4/14/33 (Reg. S) | EUR | 1,290,000 | 1,036,576 |
3% 2/27/27 (b) | 2,536,000 | 2,358,480 | |
3.375% 1/28/50 (Reg. S) | EUR | 1,755,000 | 1,248,117 |
3.625% 3/27/32 (b) | 4,866,000 | 4,116,332 | |
4% 2/14/51 (b) | 1,450,000 | 1,001,406 | |
6.625% 2/17/28 (b) | 2,190,000 | 2,235,202 | |
7.125% 1/17/33 (b) | 775,000 | 816,656 | |
8% 4/29/30 | RON | 10,700,000 | 2,432,616 |
TOTAL ROMANIA | 15,245,385 | ||
Rwanda - 0.2% | |||
Rwanda Republic 5.5% 8/9/31 (b) | 5,740,000 | 4,600,969 | |
Saudi Arabia - 1.7% | |||
Kingdom of Saudi Arabia: | |||
2.25% 2/2/33 (b) | 7,350,000 | 5,875,406 | |
3.45% 2/2/61 (b) | 10,930,000 | 7,131,825 | |
3.625% 3/4/28 (b) | 3,315,000 | 3,157,538 | |
3.75% 1/21/55 (b) | 5,025,000 | 3,548,906 | |
4.5% 10/26/46 (b) | 6,645,000 | 5,633,714 | |
4.5% 4/22/60 (b) | 2,345,000 | 1,900,916 | |
4.625% 10/4/47 (b) | 3,095,000 | 2,642,356 | |
5% 1/18/53 (b) | 3,580,000 | 3,150,400 | |
5.75% 1/16/54 (b) | 2,960,000 | 2,883,040 | |
TOTAL SAUDI ARABIA | 35,924,101 | ||
Senegal - 0.1% | |||
Republic of Senegal 6.25% 5/23/33 (b) | 3,030,000 | 2,533,838 | |
Serbia - 0.6% | |||
Republic of Serbia: | |||
2.125% 12/1/30 (b) | 7,890,000 | 6,287,344 | |
6% 6/12/34 (b) | 3,250,000 | 3,197,188 | |
6.5% 9/26/33 (b) | 4,090,000 | 4,147,516 | |
TOTAL SERBIA | 13,632,048 | ||
South Africa - 0.7% | |||
South African Republic: | |||
4.85% 9/27/27 | 2,690,000 | 2,575,675 | |
4.85% 9/30/29 | 2,510,000 | 2,293,513 | |
5% 10/12/46 | 3,845,000 | 2,696,306 | |
5.65% 9/27/47 | 1,905,000 | 1,435,894 | |
5.75% 9/30/49 | 5,505,000 | 4,142,513 | |
5.875% 4/20/32 | 2,695,000 | 2,496,244 | |
TOTAL SOUTH AFRICA | 15,640,145 | ||
Sri Lanka - 0.4% | |||
Democratic Socialist Republic of Sri Lanka: | |||
6.2% (b)(e) | 2,485,000 | 1,456,055 | |
6.825% (b)(e) | 2,785,000 | 1,633,577 | |
7.55% (b)(e) | 2,430,000 | 1,388,745 | |
7.85% (b)(e) | 5,440,000 | 3,194,300 | |
TOTAL SRI LANKA | 7,672,677 | ||
Turkey - 4.3% | |||
Export Credit Bank of Turkey 9% 1/28/27 (b) | 2,875,000 | 2,987,305 | |
Turkish Republic: | |||
4.25% 4/14/26 | 8,290,000 | 7,981,716 | |
4.75% 1/26/26 | 10,535,000 | 10,258,456 | |
4.875% 10/9/26 | 4,395,000 | 4,241,175 | |
4.875% 4/16/43 | 8,580,000 | 6,073,031 | |
5.125% 2/17/28 | 5,725,000 | 5,440,539 | |
5.25% 3/13/30 | 2,085,000 | 1,907,123 | |
5.75% 5/11/47 | 4,290,000 | 3,296,597 | |
6% 3/25/27 | 1,900,000 | 1,872,094 | |
6% 1/14/41 | 8,310,000 | 6,897,300 | |
6.625% 2/17/45 | 3,000,000 | 2,588,438 | |
7.625% 5/15/34 | 3,075,000 | 3,097,102 | |
9.125% 7/13/30 | 2,030,000 | 2,212,700 | |
9.375% 3/14/29 | 4,750,000 | 5,165,625 | |
9.375% 1/19/33 | 8,105,000 | 9,059,870 | |
9.875% 1/15/28 | 9,925,000 | 10,895,789 | |
26.2% 10/5/33 | TRY | 82,770,000 | 2,499,690 |
31.08% 11/8/28 | TRY | 72,855,000 | 2,306,925 |
37% 2/18/26 | TRY | 38,515,000 | 1,161,179 |
TOTAL TURKEY | 89,942,654 | ||
Ukraine - 0.7% | |||
Ukraine Government: | |||
6.876% 5/21/31 (b) | 1,910,000 | 544,350 | |
7.253% 3/15/35 (b) | 6,430,000 | 1,829,335 | |
7.375% 9/25/34 (b) | 3,110,000 | 886,350 | |
7.75% 9/1/24 (b) | 5,642,000 | 1,785,693 | |
7.75% 9/1/25 (b) | 8,945,000 | 2,822,148 | |
7.75% 9/1/26 (b) | 12,100,000 | 3,726,800 | |
7.75% 9/1/28 (b) | 2,095,000 | 634,785 | |
7.75% 9/1/29 (b) | 1,260,000 | 381,150 | |
7.75% 8/1/41 (b)(c) | 3,920,000 | 1,912,960 | |
TOTAL UKRAINE | 14,523,571 | ||
United Arab Emirates - 1.8% | |||
Abu Dhabi National Energy Co. PJSC 4.375% 1/24/29 (b) | 2,970,000 | 2,896,678 | |
Emirate of Abu Dhabi: | |||
3% 9/15/51 (b) | 4,675,000 | 3,138,094 | |
3.125% 9/30/49 (b) | 21,570,000 | 15,051,816 | |
3.875% 4/16/50 (b) | 6,905,000 | 5,506,738 | |
5.5% 4/30/54 (b) | 3,745,000 | 3,805,856 | |
Emirate of Dubai: | |||
3.9% 9/9/50 (Reg. S) | 7,425,000 | 5,452,734 | |
5.25% 1/30/43 (Reg. S) | 3,180,000 | 2,998,144 | |
TOTAL UNITED ARAB EMIRATES | 38,850,060 | ||
United States of America - 5.0% | |||
U.S. Treasury Bonds: | |||
2.875% 5/15/52 | 43,234,000 | 31,687,462 | |
3.25% 5/15/42 | 14,357,000 | 11,938,743 | |
3.625% 2/15/53 | 29,500,000 | 25,095,742 | |
U.S. Treasury Notes: | |||
2.875% 5/15/32 (h) | 10,848,000 | 9,773,794 | |
3.625% 3/31/30 | 9,396,000 | 9,046,586 | |
3.75% 5/31/30 | 1,994,000 | 1,930,986 | |
4% 2/28/30 | 4,819,000 | 4,731,844 | |
4.125% 3/31/31 | 7,644,000 | 7,543,374 | |
4.625% 9/30/30 | 3,851,000 | 3,905,155 | |
TOTAL UNITED STATES OF AMERICA | 105,653,686 | ||
Uruguay - 0.6% | |||
Uruguay Republic: | |||
5.1% 6/18/50 | 7,425,000 | 7,007,344 | |
5.75% 10/28/34 | 2,875,000 | 2,995,750 | |
9.75% 7/20/33 | UYU | 110,760,000 | 2,802,415 |
TOTAL URUGUAY | 12,805,509 | ||
Uzbekistan - 0.1% | |||
Republic of Uzbekistan: | |||
3.7% 11/25/30 (b) | 1,300,000 | 1,069,250 | |
3.9% 10/19/31 (b) | 1,855,000 | 1,509,506 | |
TOTAL UZBEKISTAN | 2,578,756 | ||
Venezuela - 0.4% | |||
Venezuelan Republic: | |||
9.25% (e) | 31,105,000 | 5,738,873 | |
11.95% (Reg. S) (e) | 13,520,000 | 2,460,640 | |
12.75% (e) | 2,600,000 | 473,200 | |
TOTAL VENEZUELA | 8,672,713 | ||
Vietnam - 0.6% | |||
Vietnamese Socialist Republic 5.5% 3/12/28 | 14,151,883 | 13,407,070 | |
Zambia - 0.1% | |||
Republic of Zambia: | |||
0.5% 12/31/53 (b) | 714,768 | 349,343 | |
5.75% 6/30/33 (b) | 860,368 | 756,855 | |
TOTAL ZAMBIA | 1,106,198 | ||
TOTAL GOVERNMENT OBLIGATIONS (Cost $1,203,896,061) | 1,070,805,907 | ||
Common Stocks - 0.0% | |||
Shares | Value ($) | ||
Jamaica - 0.0% | |||
Digicel Group Ltd. (f) (Cost $62,402) | 69,594 | 167,722 | |
Preferred Securities - 3.3% | |||
Principal Amount (a) | Value ($) | ||
Brazil - 0.5% | |||
Banco Do Brasil SA 10-Year Treasury Constant Maturity Rate + 4.390% 8.748% (b)(c)(i)(j) | 6,055,000 | 6,278,077 | |
Cosan Overseas Ltd. 8.25% (i) | 4,346,000 | 4,457,219 | |
TOTAL BRAZIL | 10,735,296 | ||
Chile - 0.3% | |||
Banco de Credito e Inversiones 8.75% (b)(c)(i) | 2,785,000 | 3,024,776 | |
Banco del Estado de Chile 7.95% (b)(c)(i) | 2,485,000 | 2,596,730 | |
TOTAL CHILE | 5,621,506 | ||
Hong Kong - 0.3% | |||
CAS Capital No 1 Ltd. 4% (Reg. S) (c)(i) | 6,695,000 | 6,378,937 | |
India - 0.4% | |||
Network i2i Ltd.: | |||
3.975% (b)(c)(i) | 2,535,000 | 2,418,494 | |
5.65% (b)(c)(i) | 6,088,000 | 6,096,442 | |
TOTAL INDIA | 8,514,936 | ||
Kuwait - 0.1% | |||
NBK Tier 1 Ltd. 3.625% (b)(c)(i) | 2,490,000 | 2,333,717 | |
Mexico - 1.4% | |||
Banco Mercantil del Norte SA: | |||
6.75% (b)(c)(i) | 3,500,000 | 3,475,224 | |
7.625% (b)(c)(i) | 7,260,000 | 7,223,672 | |
BBVA Bancomer SA Texas Branch: | |||
5.125% 1/18/33 (b)(c) | 2,615,000 | 2,446,121 | |
5.35% 11/12/29 (b)(c) | 1,950,000 | 1,934,717 | |
8.45% 6/29/38 (b)(c) | 2,930,000 | 3,021,225 | |
CEMEX S.A.B. de CV: | |||
5.125% (b)(c)(i) | 8,855,000 | 8,652,332 | |
9.125% (b)(c)(i) | 3,615,000 | 3,873,205 | |
TOTAL MEXICO | 30,626,496 | ||
Russia - 0.0% | |||
Alfa Bond Issuance PLC 6.95% (Reg. S) (c)(e)(f)(i) | 982,000 | 49,100 | |
Tinkoff Bank JSC 6% (b)(c)(e)(f)(i) | 2,960,000 | 148,000 | |
TOTAL RUSSIA | 197,100 | ||
United Arab Emirates - 0.3% | |||
DP World Salaam 6% (Reg. S) (c)(i) | 6,000,000 | 6,139,625 | |
TOTAL PREFERRED SECURITIES (Cost $74,239,954) | 70,547,613 | ||
Money Market Funds - 0.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (k) (Cost $16,813,734) | 16,810,864 | 16,814,226 | |
TOTAL INVESTMENT IN SECURITIES - 98.1% (Cost $2,310,703,503) | 2,075,213,990 |
NET OTHER ASSETS (LIABILITIES) - 1.9% | 39,762,074 |
NET ASSETS - 100.0% | 2,114,976,064 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Treasury Contracts | |||||
CBOT 10-Year U.S. Treasury Note Contracts (United States) | 365 | Sep 2024 | 40,144,297 | 235,215 | 235,215 |
The notional amount of futures purchased as a percentage of Net Assets is 1.9% |
EGP | - | Egyptian pound |
EUR | - | European Monetary Unit |
NGN | - | Nigerian naira |
RON | - | Romanian leu |
TRY | - | Turkish Lira |
UYU | - | Uruguay peso |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | 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 the end of the period, the value of these securities amounted to $1,338,230,771 or 63.3% of net assets. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | Non-income producing - Security is in default. |
(f) | Level 3 security |
(g) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(h) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $773,274. |
(i) | Security is perpetual in nature with no stated maturity date. |
(j) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 36,533,365 | 284,457,896 | 304,178,019 | 940,329 | 984 | - | 16,814,226 | 0.0% |
Total | 36,533,365 | 284,457,896 | 304,178,019 | 940,329 | 984 | - | 16,814,226 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 167,722 | - | - | 167,722 |
Corporate Bonds | 916,878,522 | - | 915,550,120 | 1,328,402 |
Government Obligations | 1,070,805,907 | - | 1,070,805,907 | - |
Preferred Securities | 70,547,613 | - | 70,350,513 | 197,100 |
Money Market Funds | 16,814,226 | 16,814,226 | - | - |
Total Investments in Securities: | 2,075,213,990 | 16,814,226 | 2,056,706,540 | 1,693,224 |
Derivative Instruments: Assets | ||||
Futures Contracts | 235,215 | 235,215 | - | - |
Total Assets | 235,215 | 235,215 | - | - |
Total Derivative Instruments: | 235,215 | 235,215 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Interest Rate Risk | ||
Futures Contracts (a) | 235,215 | 0 |
Total Interest Rate Risk | 235,215 | 0 |
Total Value of Derivatives | 235,215 | 0 |
Statement of Assets and Liabilities | ||||
June 30, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,293,889,769) | $ | 2,058,399,764 | ||
Fidelity Central Funds (cost $16,813,734) | 16,814,226 | |||
Total Investment in Securities (cost $2,310,703,503) | $ | 2,075,213,990 | ||
Cash | 72,312 | |||
Foreign currency held at value (cost $156) | 154 | |||
Receivable for investments sold | 149,184 | |||
Receivable for fund shares sold | 1,590 | |||
Dividends receivable | 23,250 | |||
Interest receivable | 45,371,546 | |||
Distributions receivable from Fidelity Central Funds | 98,685 | |||
Total assets | 2,120,930,711 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 3,013,780 | ||
Delayed delivery | 2,840,000 | |||
Payable for daily variation margin on futures contracts | 96,953 | |||
Other payables and accrued expenses | 3,914 | |||
Total liabilities | 5,954,647 | |||
Net Assets | $ | 2,114,976,064 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,620,428,361 | ||
Total accumulated earnings (loss) | (505,452,297) | |||
Net Assets | $ | 2,114,976,064 | ||
Net Asset Value, offering price and redemption price per share ($2,114,976,064 ÷ 266,462,627 shares) | $ | 7.94 |
Statement of Operations | ||||
Six months ended June 30, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 2,111,472 | ||
Interest | 68,986,112 | |||
Income from Fidelity Central Funds | 940,329 | |||
Income before foreign taxes withheld | $ | 72,037,913 | ||
Less foreign taxes withheld | (149,370) | |||
Total income | 71,888,543 | |||
Expenses | ||||
Custodian fees and expenses | $ | 4,689 | ||
Independent trustees' fees and expenses | 4,606 | |||
Legal | 213,789 | |||
Miscellaneous | 4 | |||
Total expenses before reductions | 223,088 | |||
Expense reductions | (3,667) | |||
Total expenses after reductions | 219,421 | |||
Net Investment income (loss) | 71,669,122 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (18,250,502) | |||
Redemptions in-kind | (4,462,593) | |||
Fidelity Central Funds | 984 | |||
Foreign currency transactions | (57,722) | |||
Futures contracts | 299,385 | |||
Total net realized gain (loss) | (22,470,448) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 27,576,137 | |||
Assets and liabilities in foreign currencies | (19,275) | |||
Futures contracts | 115,595 | |||
Total change in net unrealized appreciation (depreciation) | 27,672,457 | |||
Net gain (loss) | 5,202,009 | |||
Net increase (decrease) in net assets resulting from operations | $ | 76,871,131 |
Statement of Changes in Net Assets | ||||
Six months ended June 30, 2024 (Unaudited) | Year ended December 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 71,669,122 | $ | 139,682,661 |
Net realized gain (loss) | (22,470,448) | (89,600,719) | ||
Change in net unrealized appreciation (depreciation) | 27,672,457 | 170,105,814 | ||
Net increase (decrease) in net assets resulting from operations | 76,871,131 | 220,187,756 | ||
Distributions to shareholders | (61,251,033) | (126,070,231) | ||
Affiliated share transactions | ||||
Proceeds from sales of shares | 71,205,836 | 38,287,797 | ||
Reinvestment of distributions | 60,831,100 | 126,064,824 | ||
Cost of shares redeemed | (172,132,478) | (291,269,824) | ||
Net increase (decrease) in net assets resulting from share transactions | (40,095,542) | (126,917,203) | ||
Total increase (decrease) in net assets | (24,475,444) | (32,799,678) | ||
Net Assets | ||||
Beginning of period | 2,139,451,508 | 2,172,251,186 | ||
End of period | $ | 2,114,976,064 | $ | 2,139,451,508 |
Other Information | ||||
Shares | ||||
Sold | 9,039,536 | 5,115,802 | ||
Issued in reinvestment of distributions | 7,732,639 | 16,684,465 | ||
Redeemed | (21,997,919) | (38,214,712) | ||
Net increase (decrease) | (5,225,744) | (16,414,445) | ||
Fidelity® Emerging Markets Debt Central Fund |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 7.87 | $ | 7.54 | $ | 8.98 | $ | 9.37 | $ | 9.44 | $ | 9.11 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .264 | .507 | .438 | .437 | .501 | .582 | ||||||
Net realized and unrealized gain (loss) | .032 | .283 | (1.468) | (.428) | (.119) | .353 | ||||||
Total from investment operations | .296 | .790 | (1.030) | .009 | .382 | .935 | ||||||
Distributions from net investment income | (.226) | (.460) | (.410) | (.399) | (.452) | (.548) | ||||||
Distributions from net realized gain | - | - | - | - | - | (.057) | ||||||
Total distributions | (.226) | (.460) | (.410) | (.399) | (.452) | (.605) | ||||||
Net asset value, end of period | $ | 7.94 | $ | 7.87 | $ | 7.54 | $ | 8.98 | $ | 9.37 | $ | 9.44 |
Total Return C,D | 3.82 % | 10.91% | (11.47)% | .11% | 4.42% | 10.48% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .02% G,H | .02% | -% I | -% I | -% I | -% I | ||||||
Expenses net of fee waivers, if any | .02 % G,H | .02% | -% I | -% I | -% I | -% I | ||||||
Expenses net of all reductions | .02% G,H | .02% | -% I | -% I | -% I | -% I | ||||||
Net investment income (loss) | 6.75% G,H | 6.72% | 5.58% | 4.77% | 5.59% | 6.23% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,114,976 | $ | 2,139,452 | $ | 2,172,251 | $ | 2,751,450 | $ | 2,751,759 | $ | 2,936,254 |
Portfolio turnover rate J | 15 % G,K | 21% | 22% | 32% | 89% | 72% K |
U.S. Government and Government Agency Obligations - 0.5% | |||
Principal Amount (a) | Value ($) | ||
U.S. Treasury Obligations - 0.5% | |||
U.S. Treasury Bills, yield at date of purchase 5.3% 11/14/24 (b) (Cost $1,333,502) | 1,360,000 | 1,333,498 | |
Foreign Government and Government Agency Obligations - 83.1% | |||
Principal Amount (a) | Value ($) | ||
Brazil - 9.2% | |||
Brazil Letras Do Tesouro Nacio, yield at date of purchase 9.892% to 13.1648% 1/1/26 to 7/1/27 | BRL | 68,075,000 | 9,952,510 |
Brazilian Federative Republic: | |||
10% 1/1/25 | BRL | 13,250,000 | 2,358,855 |
10% 1/1/27 | BRL | 30,750,000 | 5,280,936 |
10% 1/1/29 | BRL | 18,500,000 | 3,069,903 |
10% 1/1/31 | BRL | 14,500,000 | 2,333,025 |
10% 1/1/33 | BRL | 1,900,000 | 300,290 |
10% 1/1/35 | BRL | 3,750,000 | 585,675 |
TOTAL BRAZIL | 23,881,194 | ||
Chile - 1.2% | |||
Chilean Republic: | |||
4.5% 3/1/26 | CLP | 220,000,000 | 233,052 |
4.7% 9/1/30 (Reg. S) (c) | CLP | 1,050,000,000 | 1,040,781 |
5% 3/1/35 | CLP | 580,000,000 | 561,247 |
6% 4/1/33 (Reg. S) (c) | CLP | 1,050,000,000 | 1,105,142 |
6% 1/1/43 | CLP | 225,000,000 | 236,628 |
TOTAL CHILE | 3,176,850 | ||
China - 4.7% | |||
Peoples Republic of China: | |||
2.68% 5/21/30 | CNY | 28,500,000 | 4,043,716 |
2.88% 2/25/33 | CNY | 19,750,000 | 2,856,942 |
2.91% 10/14/28 | CNY | 9,000,000 | 1,285,757 |
3.12% 10/25/52 | CNY | 7,500,000 | 1,164,301 |
3.81% 9/14/50 | CNY | 16,550,000 | 2,856,830 |
TOTAL CHINA | 12,207,546 | ||
Colombia - 4.4% | |||
Colombian Republic: | |||
5.75% 11/3/27 | COP | 3,350,000,000 | 714,147 |
6% 4/28/28 | COP | 1,000,000,000 | 210,626 |
7% 6/30/32 | COP | 18,800,000,000 | 3,666,289 |
7.25% 10/18/34 | COP | 8,000,000,000 | 1,506,543 |
7.25% 10/26/50 | COP | 1,650,000,000 | 256,823 |
7.5% 8/26/26 | COP | 12,750,000,000 | 2,954,952 |
9.25% 5/28/42 | COP | 10,375,000,000 | 2,067,939 |
TOTAL COLOMBIA | 11,377,319 | ||
Czech Republic - 4.6% | |||
Czech Republic: | |||
0.95% 5/15/30 (Reg. S) | CZK | 64,250,000 | 2,304,463 |
1.2% 3/13/31 | CZK | 108,630,000 | 3,868,673 |
1.5% 4/24/40 | CZK | 12,000,000 | 350,257 |
1.95% 7/30/37 | CZK | 28,000,000 | 921,661 |
2% 10/13/33 | CZK | 75,000,000 | 2,668,433 |
2.4% 9/17/25 | CZK | 29,250,000 | 1,222,415 |
2.75% 7/23/29 | CZK | 17,500,000 | 702,526 |
TOTAL CZECH REPUBLIC | 12,038,428 | ||
Dominican Republic - 0.1% | |||
Dominican Republic 13.625% 2/3/33 (c) | DOP | 17,000,000 | 340,054 |
Egypt - 0.5% | |||
Arab Republic of Egypt: | |||
, yield at date of purchase 25.8989% to 25.8999% 11/12/24 to 4/29/25 | EGP | 67,650,000 | 1,212,832 |
14.556% 10/13/27 | EGP | 7,000,000 | 111,550 |
16.1% 5/7/29 | EGP | 2,500,000 | 38,322 |
TOTAL EGYPT | 1,362,704 | ||
Hungary - 3.5% | |||
Hungarian Republic: | |||
1% 11/26/25 | HUF | 525,000,000 | 1,320,243 |
2.25% 4/20/33 | HUF | 350,000,000 | 669,066 |
2.25% 6/22/34 | HUF | 125,000,000 | 229,202 |
2.75% 12/22/26 | HUF | 1,567,000,000 | 3,882,063 |
3% 10/27/38 | HUF | 310,000,000 | 550,885 |
3.25% 10/22/31 | HUF | 347,500,000 | 755,466 |
6.75% 10/22/28 | HUF | 583,000,000 | 1,584,340 |
TOTAL HUNGARY | 8,991,265 | ||
Indonesia - 8.4% | |||
Indonesian Republic: | |||
5.125% 4/15/27 | IDR | 11,000,000,000 | 645,557 |
6.375% 4/15/32 | IDR | 70,000,000,000 | 4,108,092 |
6.5% 6/15/25 | IDR | 15,750,000,000 | 959,427 |
6.5% 2/15/31 | IDR | 49,500,000,000 | 2,924,609 |
6.625% 2/15/34 | IDR | 12,750,000,000 | 754,271 |
7.125% 6/15/38 | IDR | 24,000,000,000 | 1,472,277 |
7.125% 6/15/42 | IDR | 7,500,000,000 | 458,144 |
7.125% 6/15/43 | IDR | 14,100,000,000 | 861,849 |
7.5% 8/15/32 | IDR | 8,000,000,000 | 499,840 |
7.5% 4/15/40 | IDR | 32,700,000,000 | 2,063,135 |
8.25% 5/15/29 | IDR | 35,500,000,000 | 2,280,672 |
8.25% 5/15/36 | IDR | 250,000,000 | 16,641 |
8.375% 9/15/26 | IDR | 18,400,000,000 | 1,164,062 |
8.375% 3/15/34 | IDR | 33,300,000,000 | 2,219,661 |
8.375% 4/15/39 | IDR | 19,750,000,000 | 1,344,809 |
TOTAL INDONESIA | 21,773,046 | ||
Malaysia - 10.0% | |||
Malaysian Government: | |||
3.519% 4/20/28 | MYR | 28,000,000 | 5,911,902 |
3.582% 7/15/32 | MYR | 13,500,000 | 2,806,369 |
3.757% 5/22/40 | MYR | 5,500,000 | 1,121,918 |
3.828% 7/5/34 | MYR | 3,650,000 | 769,521 |
3.885% 8/15/29 | MYR | 11,175,000 | 2,392,788 |
3.906% 7/15/26 | MYR | 16,500,000 | 3,527,520 |
4.065% 6/15/50 | MYR | 7,250,000 | 1,496,720 |
4.457% 3/31/53 | MYR | 3,250,000 | 715,103 |
4.504% 4/30/29 | MYR | 6,500,000 | 1,429,793 |
4.642% 11/7/33 | MYR | 3,000,000 | 674,245 |
4.696% 10/15/42 | MYR | 1,550,000 | 352,746 |
4.736% 3/15/46 | MYR | 3,250,000 | 738,561 |
4.762% 4/7/37 | MYR | 11,000,000 | 2,504,293 |
4.893% 6/8/38 | MYR | 6,750,000 | 1,561,707 |
TOTAL MALAYSIA | 26,003,186 | ||
Mexico - 9.4% | |||
United Mexican States: | |||
5.75% 3/5/26 | MXN | 82,750,000 | 4,184,947 |
7.5% 6/3/27 | MXN | 51,250,000 | 2,608,456 |
7.5% 5/26/33 | MXN | 30,000,000 | 1,409,115 |
7.75% 11/23/34 | MXN | 66,250,000 | 3,115,506 |
7.75% 11/13/42 | MXN | 83,500,000 | 3,685,273 |
8% 9/5/24 | MXN | 16,250,000 | 882,672 |
8% 7/31/53 | MXN | 36,500,000 | 1,616,709 |
8.5% 5/31/29 | MXN | 130,500,000 | 6,722,661 |
10% 11/20/36 | MXN | 5,000,000 | 275,326 |
TOTAL MEXICO | 24,500,665 | ||
Paraguay - 0.3% | |||
Republic of Paraguay 7.9% 2/9/31 (c) | PYG | 5,000,000,000 | 685,853 |
Peru - 2.2% | |||
Peruvian Republic: | |||
5.35% 8/12/40 | PEN | 1,850,000 | 389,067 |
5.4% 8/12/34(Reg. S) | PEN | 4,100,000 | 938,636 |
5.94% 2/12/29 | PEN | 3,750,000 | 978,383 |
6.15% 8/12/32 | PEN | 2,500,000 | 626,140 |
6.35% 8/12/28 | PEN | 2,575,000 | 686,984 |
6.9% 8/12/37 | PEN | 3,750,000 | 935,012 |
6.95% 8/12/31 | PEN | 1,750,000 | 466,809 |
7.3% 8/12/33(Reg. S) (c) | PEN | 2,750,000 | 733,484 |
TOTAL PERU | 5,754,515 | ||
Poland - 4.8% | |||
Polish Government: | |||
1.25% 10/25/30 | PLN | 11,050,000 | 2,131,983 |
1.75% 4/25/32 | PLN | 15,750,000 | 2,977,159 |
2.75% 4/25/28 | PLN | 11,750,000 | 2,662,222 |
2.75% 10/25/29 | PLN | 10,950,000 | 2,384,804 |
5% 10/25/34 | PLN | 1,000,000 | 234,516 |
6% 10/25/33 | PLN | 7,500,000 | 1,908,493 |
TOTAL POLAND | 12,299,177 | ||
Romania - 4.6% | |||
Romanian Republic: | |||
3.25% 6/24/26 | RON | 14,750,000 | 3,011,684 |
3.65% 9/24/31 | RON | 13,750,000 | 2,431,602 |
4.25% 4/28/36 | RON | 2,000,000 | 339,379 |
4.75% 10/11/34 | RON | 2,000,000 | 363,886 |
5% 2/12/29 | RON | 24,150,000 | 4,876,457 |
5.8% 7/26/27 | RON | 3,250,000 | 690,744 |
6.7% 2/25/32 | RON | 1,250,000 | 266,725 |
TOTAL ROMANIA | 11,980,477 | ||
South Africa - 8.4% | |||
South African Republic: | |||
6.25% 3/31/36 | ZAR | 45,500,000 | 1,665,416 |
6.5% 2/28/41 | ZAR | 30,750,000 | 1,032,537 |
7% 2/28/31 | ZAR | 101,250,000 | 4,664,554 |
8% 1/31/30 | ZAR | 118,000,000 | 5,945,108 |
8.5% 1/31/37 | ZAR | 55,000,000 | 2,378,479 |
8.75% 2/28/48 | ZAR | 70,250,000 | 2,874,839 |
8.875% 2/28/35 | ZAR | 71,000,000 | 3,298,449 |
TOTAL SOUTH AFRICA | 21,859,382 | ||
Thailand - 4.1% | |||
Kingdom of Thailand: | |||
1.585% 12/17/35 | THB | 58,000,000 | 1,391,811 |
1.6% 6/17/35 | THB | 87,000,000 | 2,109,981 |
2% 6/17/42 | THB | 42,500,000 | 975,683 |
2.875% 6/17/46 | THB | 9,200,000 | 230,413 |
3.3% 6/17/38 | THB | 94,000,000 | 2,668,494 |
3.39% 6/17/37 | THB | 45,000,000 | 1,288,497 |
3.45% 6/17/43 | THB | 65,000,000 | 1,822,584 |
TOTAL THAILAND | 10,487,463 | ||
Turkey - 1.9% | |||
Turkish Republic: | |||
9.3% 12/4/24 | TRY | 25,000,000 | 678,998 |
10.5% 8/11/27 | TRY | 35,250,000 | 692,483 |
12.6% 10/1/25 | TRY | 78,000,000 | 1,802,517 |
17.3% 7/19/28 | TRY | 25,000,000 | 575,337 |
17.8% 7/13/33 | TRY | 18,000,000 | 400,807 |
26.2% 10/5/33 | TRY | 25,500,000 | 770,111 |
TOTAL TURKEY | 4,920,253 | ||
Uruguay - 0.8% | |||
Uruguay Republic: | |||
8.25% 5/21/31 | UYU | 6,500,000 | 152,460 |
8.5% 3/15/28 (Reg. S) | UYU | 74,825,000 | 1,841,208 |
9.75% 7/20/33 | UYU | 3,680,820 | 93,131 |
TOTAL URUGUAY | 2,086,799 | ||
TOTAL FOREIGN GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS (Cost $221,925,100) | 215,726,176 | ||
Supranational Obligations - 1.4% | |||
Principal Amount (a) | Value ($) | ||
Asian Infrastructure Investment Bank 6.65% 6/30/33 (Reg. S) | INR | 45,000,000 | 516,180 |
Corporacion Andina de Fomento 7.65% 3/5/31 (Reg. S) | INR | 62,000,000 | 729,715 |
European Bank for Reconstruction & Development 6.25% 4/11/28 | INR | 107,000,000 | 1,250,240 |
Inter-American Development Bank: | |||
5.1% 11/17/26 | IDR | 5,000,000,000 | 295,817 |
5.7% 11/12/24 | INR | 20,000,000 | 238,144 |
International Bank for Reconstruction & Development 7.05% 7/22/29 | INR | 60,000,000 | 727,233 |
TOTAL SUPRANATIONAL OBLIGATIONS (Cost $3,856,512) | 3,757,329 | ||
Money Market Funds - 13.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (d) (Cost $33,771,765) | 33,765,012 | 33,771,765 | |
TOTAL INVESTMENT IN SECURITIES - 98.0% (Cost $260,886,879) | 254,588,768 |
NET OTHER ASSETS (LIABILITIES) - 2.0% | 5,084,068 |
NET ASSETS - 100.0% | 259,672,836 |
Forward Foreign Currency Contracts | ||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) ($) | ||
USD | 342,423 | PLN | 1,375,740 | JPMorgan Chase Bank, N.A. | 7/02/24 | 680 |
USD | 103,236 | RON | 479,375 | JPMorgan Chase Bank, N.A. | 7/02/24 | 86 |
BRL | 9,985,000 | USD | 1,917,372 | BNP Paribas S.A. | 8/29/24 | (143,075) |
BRL | 2,707,000 | USD | 512,466 | State Street Bank and Trust Co | 8/29/24 | (31,443) |
BRL | 3,981,000 | USD | 751,345 | State Street Bank and Trust Co | 8/29/24 | (43,936) |
CLP | 975,397,000 | USD | 1,059,581 | BNP Paribas S.A. | 8/29/24 | (23,518) |
CLP | 536,697,000 | USD | 593,035 | State Street Bank and Trust Co | 8/29/24 | (22,958) |
CLP | 920,542,000 | USD | 980,761 | State Street Bank and Trust Co | 8/29/24 | (2,965) |
CNY | 4,664,000 | USD | 655,378 | BNP Paribas S.A. | 8/29/24 | (9,406) |
CNY | 62,236,000 | USD | 8,760,082 | Goldman Sachs Bank USA | 8/29/24 | (140,283) |
CNY | 2,952,000 | USD | 415,307 | Goldman Sachs Bank USA | 8/29/24 | (6,449) |
COP | 2,728,200,000 | USD | 694,163 | BNP Paribas S.A. | 8/29/24 | (42,966) |
COP | 3,003,500,000 | USD | 726,536 | HSBC Bank | 8/29/24 | (9,628) |
COP | 2,772,200,000 | USD | 708,278 | State Street Bank and Trust Co | 8/29/24 | (46,579) |
CZK | 5,984,000 | USD | 261,266 | Bank of America, N.A. | 8/29/24 | (5,119) |
CZK | 16,549,000 | USD | 733,407 | Bank of America, N.A. | 8/29/24 | (25,022) |
CZK | 30,780,000 | USD | 1,356,724 | Goldman Sachs Bank USA | 8/29/24 | (39,177) |
CZK | 24,426,000 | USD | 1,070,258 | Goldman Sachs Bank USA | 8/29/24 | (24,695) |
CZK | 15,546,000 | USD | 684,960 | Goldman Sachs Bank USA | 8/29/24 | (19,509) |
CZK | 31,683,000 | USD | 1,393,885 | HSBC Bank | 8/29/24 | (37,684) |
EUR | 604,000 | USD | 649,847 | BNP Paribas S.A. | 8/29/24 | (1,121) |
EUR | 1,249,000 | USD | 1,361,055 | JPMorgan Chase Bank, N.A. | 8/29/24 | (19,565) |
HUF | 353,000,000 | USD | 981,626 | Bank of America, N.A. | 8/29/24 | (26,593) |
HUF | 236,119,000 | USD | 662,893 | Citibank, N. A. | 8/29/24 | (24,078) |
HUF | 277,200,000 | USD | 772,969 | Goldman Sachs Bank USA | 8/29/24 | (23,011) |
HUF | 216,861,000 | USD | 601,882 | State Street Bank and Trust Co | 8/29/24 | (15,170) |
IDR | 26,018,400,000 | USD | 1,608,457 | Goldman Sachs Bank USA | 8/29/24 | (21,048) |
IDR | 20,605,200,000 | USD | 1,286,779 | Royal Bank of Canada | 8/29/24 | (29,636) |
IDR | 13,449,300,000 | USD | 829,487 | State Street Bank and Trust Co | 8/29/24 | (8,932) |
INR | 257,201,000 | USD | 3,068,126 | Bank of America, N.A. | 8/29/24 | 11,578 |
INR | 218,677,000 | USD | 2,619,671 | State Street Bank and Trust Co | 8/29/24 | (1,249) |
KRW | 903,100,000 | USD | 657,709 | State Street Bank and Trust Co | 8/29/24 | (1,099) |
KZT | 509,699,000 | USD | 1,128,901 | Goldman Sachs Bank USA | 8/29/24 | (66,543) |
MXN | 38,488,000 | USD | 2,089,164 | BNP Paribas S.A. | 8/29/24 | (4,987) |
MXN | 27,526,000 | USD | 1,611,307 | JPMorgan Chase Bank, N.A. | 8/29/24 | (120,737) |
MXN | 11,899,000 | USD | 702,061 | JPMorgan Chase Bank, N.A. | 8/29/24 | (57,714) |
MYR | 2,730,000 | USD | 584,207 | Goldman Sachs Bank USA | 8/29/24 | (3,189) |
MYR | 5,084,000 | USD | 1,080,093 | State Street Bank and Trust Co | 8/29/24 | 1,920 |
PEN | 3,825,000 | USD | 1,007,507 | Bank of America, N.A. | 8/29/24 | (13,646) |
PEN | 1,094,000 | USD | 288,479 | JPMorgan Chase Bank, N.A. | 8/29/24 | (4,222) |
PHP | 38,721,000 | USD | 662,520 | State Street Bank and Trust Co | 8/29/24 | (721) |
PLN | 9,338,000 | USD | 2,298,142 | BNP Paribas S.A. | 8/29/24 | 19,929 |
PLN | 9,525,000 | USD | 2,355,059 | Canadian Imperial Bk. of Comm. | 8/29/24 | 9,432 |
PLN | 2,646,000 | USD | 660,405 | Goldman Sachs Bank USA | 8/29/24 | (3,561) |
PLN | 11,768,000 | USD | 2,905,470 | JPMorgan Chase Bank, N.A. | 8/29/24 | 15,826 |
PLN | 11,924,000 | USD | 2,999,785 | State Street Bank and Trust Co | 8/29/24 | (39,764) |
RON | 3,394,000 | USD | 732,201 | BNP Paribas S.A. | 8/29/24 | (2,390) |
RON | 13,411,000 | USD | 2,905,361 | Citibank, N. A. | 8/29/24 | (21,596) |
THB | 560,742,000 | USD | 15,345,746 | JPMorgan Chase Bank, N.A. | 8/29/24 | (4,969) |
THB | 28,355,000 | USD | 779,301 | JPMorgan Chase Bank, N.A. | 8/29/24 | (3,565) |
TRY | 20,833,000 | USD | 594,953 | Bank of America, N.A. | 8/29/24 | 2,141 |
TRY | 20,729,000 | USD | 594,609 | Bank of America, N.A. | 8/29/24 | (496) |
TRY | 103,436,000 | USD | 2,904,623 | Citibank, N. A. | 8/29/24 | 59,953 |
TRY | 26,494,000 | USD | 758,631 | JPMorgan Chase Bank, N.A. | 8/29/24 | 713 |
TWD | 43,132,000 | USD | 1,337,426 | Royal Bank of Canada | 8/29/24 | (2,003) |
USD | 1,358,363 | BRL | 7,048,000 | BNP Paribas S.A. | 8/29/24 | 105,960 |
USD | 1,905,588 | BRL | 10,657,000 | Bank of America, N.A. | 8/29/24 | 11,880 |
USD | 1,222,823 | BRL | 6,688,000 | Citibank, N. A. | 8/29/24 | 34,391 |
USD | 566,343 | BRL | 2,937,000 | State Street Bank and Trust Co | 8/29/24 | 44,450 |
USD | 691,241 | CLP | 617,299,000 | BNP Paribas S.A. | 8/29/24 | 35,549 |
USD | 1,297,782 | CLP | 1,217,968,000 | Goldman Sachs Bank USA | 8/29/24 | 4,061 |
USD | 645,455 | CLP | 597,369,000 | Royal Bank of Canada | 8/29/24 | 10,932 |
USD | 1,371,229 | CNY | 9,753,000 | State Street Bank and Trust Co | 8/29/24 | 20,420 |
USD | 606,143 | COP | 2,346,400,000 | BNP Paribas S.A. | 8/29/24 | 46,078 |
USD | 664,926 | COP | 2,635,100,000 | Bank of America, N.A. | 8/29/24 | 35,951 |
USD | 692,437 | COP | 2,728,200,000 | Citibank, N. A. | 8/29/24 | 41,240 |
USD | 1,079,899 | CZK | 24,439,000 | Bank of America, N.A. | 8/29/24 | 33,780 |
USD | 643,887 | CZK | 14,962,000 | Goldman Sachs Bank USA | 8/29/24 | 3,434 |
USD | 624,023 | CZK | 14,533,000 | Goldman Sachs Bank USA | 8/29/24 | 1,933 |
USD | 705,839 | CZK | 16,352,000 | JPMorgan Chase Bank, N.A. | 8/29/24 | 5,887 |
USD | 1,346,469 | EUR | 1,234,000 | Brown Brothers Harriman & Co | 8/29/24 | 21,091 |
USD | 2,010,020 | EUR | 1,854,000 | Royal Bank of Canada | 8/29/24 | 18,730 |
USD | 1,294,519 | EUR | 1,201,000 | Royal Bank of Canada | 8/29/24 | 4,585 |
USD | 578,523 | HUF | 214,301,000 | BNP Paribas S.A. | 8/29/24 | (1,263) |
USD | 678,529 | HUF | 245,547,000 | Canadian Imperial Bk. of Comm. | 8/29/24 | 14,208 |
USD | 378,000 | HUF | 139,297,000 | Canadian Imperial Bk. of Comm. | 8/29/24 | 1,135 |
USD | 1,355,973 | HUF | 484,035,000 | Goldman Sachs Bank USA | 8/29/24 | 46,429 |
USD | 1,384,918 | IDR | 22,239,800,000 | BNP Paribas S.A. | 8/29/24 | 28,045 |
USD | 1,395,465 | INR | 116,693,000 | Goldman Sachs Bank USA | 8/29/24 | (1,807) |
USD | 1,355,920 | INR | 113,321,000 | Goldman Sachs Bank USA | 8/29/24 | (977) |
USD | 457,778 | KZT | 209,891,000 | Goldman Sachs Bank USA | 8/29/24 | 20,305 |
USD | 264,448 | MXN | 4,960,000 | BNP Paribas S.A. | 8/29/24 | (4,142) |
USD | 167,913 | MXN | 3,092,000 | Canadian Imperial Bk. of Comm. | 8/29/24 | 477 |
USD | 801,678 | MXN | 13,538,000 | Citibank, N. A. | 8/29/24 | 68,577 |
USD | 679,318 | MXN | 12,224,000 | Goldman Sachs Bank USA | 8/29/24 | 17,372 |
USD | 625,226 | MYR | 2,937,000 | Goldman Sachs Bank USA | 8/29/24 | 153 |
USD | 1,038,986 | MYR | 4,877,000 | Goldman Sachs Bank USA | 8/29/24 | 1,028 |
USD | 1,318,944 | PEN | 4,919,000 | State Street Bank and Trust Co | 8/29/24 | 40,825 |
USD | 656,288 | PHP | 38,721,000 | Bank of America, N.A. | 8/29/24 | (5,512) |
USD | 647,157 | PLN | 2,562,000 | Bank of America, N.A. | 8/29/24 | 11,164 |
USD | 1,699,292 | PLN | 6,667,000 | Canadian Imperial Bk. of Comm. | 8/29/24 | 44,272 |
USD | 651,552 | PLN | 2,556,000 | JPMorgan Chase Bank, N.A. | 8/29/24 | 17,049 |
USD | 688,606 | PLN | 2,701,000 | JPMorgan Chase Bank, N.A. | 8/29/24 | 18,108 |
USD | 539,520 | RON | 2,507,000 | JPMorgan Chase Bank, N.A. | 8/29/24 | 440 |
USD | 907,652 | THB | 33,251,000 | JPMorgan Chase Bank, N.A. | 8/29/24 | (2,029) |
USD | 1,329,300 | THB | 48,508,000 | JPMorgan Chase Bank, N.A. | 8/29/24 | 2,219 |
USD | 706,546 | TRY | 24,995,000 | BNP Paribas S.A. | 8/29/24 | (9,835) |
USD | 1,360,543 | TRY | 48,854,000 | Bank of America, N.A. | 8/29/24 | (39,661) |
USD | 2,649,234 | TRY | 94,057,000 | Bank of America, N.A. | 8/29/24 | (46,531) |
USD | 675,404 | TWD | 21,619,000 | BNP Paribas S.A. | 8/29/24 | 6,051 |
USD | 666,450 | TWD | 21,513,000 | BNP Paribas S.A. | 8/29/24 | 379 |
USD | 864,799 | ZAR | 16,305,000 | Canadian Imperial Bk. of Comm. | 8/29/24 | (27,307) |
USD | 639,010 | ZAR | 11,655,000 | Goldman Sachs Bank USA | 8/29/24 | 1,322 |
ZAR | 22,338,000 | USD | 1,209,277 | State Street Bank and Trust Co | 8/29/24 | 12,916 |
ZAR | 12,413,000 | USD | 675,879 | State Street Bank and Trust Co | 8/29/24 | 3,282 |
EGP | 35,580,000 | USD | 638,206 | Goldman Sachs Bank USA | 3/13/25 | 46,213 |
USD | 671,955 | EGP | 35,580,000 | Goldman Sachs Bank USA | 3/13/25 | (12,464) |
TOTAL FORWARD FOREIGN CURRENCY CONTRACTS | (342,966) | |||||
Unrealized Appreciation | 1,004,579 | |||||
Unrealized Depreciation | (1,347,545) |
BRL | - | Brazilian real |
CLP | - | Chilean peso |
CNY | - | Chinese yuan |
COP | - | Colombian peso |
CZK | - | Czech koruna |
DOP | - | Dominican Republic peso |
EGP | - | Egyptian pound |
EUR | - | European Monetary Unit |
HUF | - | Hungarian forint |
IDR | - | Indonesian rupiah |
INR | - | Indian rupee |
KRW | - | Korean won |
KZT | - | Kazakhstan tenge |
MXN | - | Mexican peso |
MYR | - | Malaysian ringgit |
PEN | - | Peruvian new sol |
PHP | - | Philippine peso |
PLN | - | Polish zloty |
PYG | - | Paraguay Guarani |
RON | - | Romanian leu |
THB | - | Thai baht |
TRY | - | Turkish Lira |
TWD | - | Taiwanese dollar |
USD | - | U.S. dollar |
UYU | - | Uruguay peso |
ZAR | - | South African rand |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Security or a portion of the security has been segregated as collateral for open forward foreign currency contracts. At period end, the value of securities pledged amounted to $251,404. |
(c) | 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 the end of the period, the value of these securities amounted to $3,905,314 or 1.5% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 40,241,620 | 70,779,140 | 77,248,995 | 965,815 | - | - | 33,771,765 | 0.1% |
Total | 40,241,620 | 70,779,140 | 77,248,995 | 965,815 | - | - | 33,771,765 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
U.S. Government and Government Agency Obligations | 1,333,498 | - | 1,333,498 | - |
Foreign Government and Government Agency Obligations | 215,726,176 | - | 215,726,176 | - |
Supranational Obligations | 3,757,329 | - | 3,757,329 | - |
Money Market Funds | 33,771,765 | 33,771,765 | - | - |
Total Investments in Securities: | 254,588,768 | 33,771,765 | 220,817,003 | - |
Derivative Instruments: Assets | ||||
Forward Foreign Currency Contracts | 1,004,579 | - | 1,004,579 | - |
Total Assets | 1,004,579 | - | 1,004,579 | - |
Liabilities | ||||
Forward Foreign Currency Contracts | (1,347,545) | - | (1,347,545) | - |
Total Liabilities | (1,347,545) | - | (1,347,545) | - |
Total Derivative Instruments: | (342,966) | - | (342,966) | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Foreign Exchange Risk | ||
Forward Foreign Currency Contracts (a) | 1,004,579 | (1,347,545) |
Total Foreign Exchange Risk | 1,004,579 | (1,347,545) |
Total Value of Derivatives | 1,004,579 | (1,347,545) |
Statement of Assets and Liabilities | ||||
June 30, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $227,115,114) | $ | 220,817,003 | ||
Fidelity Central Funds (cost $33,771,765) | 33,771,765 | |||
Total Investment in Securities (cost $260,886,879) | $ | 254,588,768 | ||
Cash | 9,564 | |||
Foreign currency held at value (cost $718,884) | 691,714 | |||
Unrealized appreciation on forward foreign currency contracts | 1,004,579 | |||
Dividends receivable | 102,690 | |||
Interest receivable | 4,554,113 | |||
Distributions receivable from Fidelity Central Funds | 130,198 | |||
Other receivables | 65 | |||
Total assets | 261,081,691 | |||
Liabilities | ||||
Unrealized depreciation on forward foreign currency contracts | $ | 1,347,545 | ||
Other payables and accrued expenses | 61,310 | |||
Total liabilities | 1,408,855 | |||
Net Assets | $ | 259,672,836 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 274,936,254 | ||
Total accumulated earnings (loss) | (15,263,418) | |||
Net Assets | $ | 259,672,836 | ||
Net Asset Value, offering price and redemption price per share ($259,672,836 ÷ 3,014,291 shares) | $ | 86.15 |
Statement of Operations | ||||
Six months ended June 30, 2024 (Unaudited) | ||||
Investment Income | ||||
Interest | $ | 8,948,421 | ||
Income from Fidelity Central Funds | 965,815 | |||
Income before foreign taxes withheld | $ | 9,914,236 | ||
Less foreign taxes withheld | (101,245) | |||
Total income | 9,812,991 | |||
Expenses | ||||
Custodian fees and expenses | $ | 24,357 | ||
Independent trustees' fees and expenses | 626 | |||
Miscellaneous | 4 | |||
Total expenses before reductions | 24,987 | |||
Expense reductions | (1,412) | |||
Total expenses after reductions | 23,575 | |||
Net Investment income (loss) | 9,789,416 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $19,083) | (2,000,232) | |||
Forward foreign currency contracts | (1,222,819) | |||
Foreign currency transactions | (90,678) | |||
Total net realized gain (loss) | (3,313,729) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $23,904) | (15,681,173) | |||
Forward foreign currency contracts | (804,745) | |||
Assets and liabilities in foreign currencies | (211,984) | |||
Total change in net unrealized appreciation (depreciation) | (16,697,902) | |||
Net gain (loss) | (20,011,631) | |||
Net increase (decrease) in net assets resulting from operations | $ | (10,222,215) |
Statement of Changes in Net Assets | ||||
Six months ended June 30, 2024 (Unaudited) | Year ended December 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 9,789,416 | $ | 17,805,607 |
Net realized gain (loss) | (3,313,729) | (3,398,908) | ||
Change in net unrealized appreciation (depreciation) | (16,697,902) | 15,584,531 | ||
Net increase (decrease) in net assets resulting from operations | (10,222,215) | 29,991,230 | ||
Distributions to shareholders | (4,083,522) | (17,272,974) | ||
Affiliated share transactions | ||||
Proceeds from sales of shares | 53,164 | 182,001,326 | ||
Reinvestment of distributions | 4,083,522 | 17,272,974 | ||
Cost of shares redeemed | (28,170,821) | (788,275) | ||
Net increase (decrease) in net assets resulting from share transactions | (24,034,135) | 198,486,025 | ||
Total increase (decrease) in net assets | (38,339,872) | 211,204,281 | ||
Net Assets | ||||
Beginning of period | 298,012,708 | 86,808,427 | ||
End of period | $ | 259,672,836 | $ | 298,012,708 |
Other Information | ||||
Shares | ||||
Sold | 611 | 2,082,339 | ||
Issued in reinvestment of distributions | 46,712 | 197,058 | ||
Redeemed | (323,542) | (8,779) | ||
Net increase (decrease) | (276,219) | 2,270,618 | ||
Fidelity® Emerging Markets Debt Local Currency Central Fund |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 90.57 | $ | 85.12 | $ | 93.30 | $ | 108.21 | $ | 100.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | 3.037 | 6.097 | 4.389 | 4.478 | 1.042 | |||||
Net realized and unrealized gain (loss) | (6.216) | 4.973 | (11.606) | (13.557) | 8.599 | |||||
Total from investment operations | (3.179) | 11.070 | (7.217) | (9.079) | 9.641 | |||||
Distributions from net investment income | (1.241) | (5.620) | (.963) | (5.726) | (1.431) | |||||
Distributions from net realized gain | - | - | - | (.105) | - | |||||
Total distributions | (1.241) | (5.620) | (.963) | (5.831) | (1.431) | |||||
Net asset value, end of period | $ | 86.15 | $ | 90.57 | $ | 85.12 | $ | 93.30 | $ | 108.21 |
Total Return D,E | (3.53) % | 13.23% | (7.82)% | (8.48)% | 9.65% | |||||
Ratios to Average Net Assets C,F,G | ||||||||||
Expenses before reductions | .02% H,I | .02% | .02% | .03% | .04% I | |||||
Expenses net of fee waivers, if any | .02 % H,I | .02% | .02% | .03% | .04% I | |||||
Expenses net of all reductions | .02% H,I | .02% | .02% | .03% | .04% I | |||||
Net investment income (loss) | 6.96% H,I | 6.80% | 5.21% | 4.37% | 3.66% I | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 259,673 | $ | 298,013 | $ | 86,808 | $ | 94,140 | $ | 164,503 |
Portfolio turnover rate J | 50 % I | 63% | 60% | 81% | 30% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized depreciation ($) | Net unrealized appreciation (depreciation)($) | |
Fidelity Emerging Markets Debt Central Fund | 2,272,560,458 | 56,475,083 | (253,586,336) | (197,111,253) |
Fidelity Emerging Markets Debt Local Currency Central Fund | 261,766,766 | 5,052,857 | (12,573,821) | (7,520,964) |
Short-term ($) | Long-term ($) | Total capital loss carryforward ($) | |
Fidelity Emerging Markets Debt Central Fund | (54,942,364) | (237,464,275) | (292,406,639) |
Fidelity Emerging Markets Debt Local Currency Central Fund | (3,210,532) | (4,419,719) | (7,630,251) |
Foreign Exchange Risk | Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in currency exchange rates. |
Interest Rate Risk | Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates. |
Purchases ($) | Sales ($) | |
Fidelity Emerging Markets Debt Central Fund | 208,423,760 | 150,690,463 |
Fidelity Emerging Markets Debt Local Currency Central Fund | 58,773,021 | 70,373,096 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Emerging Markets Debt Central Fund | 11,140,913 | (4,462,593) | 86,899,124 |
Custodian credits ($) | |
Fidelity Emerging Markets Debt Central Fund | 3,667 |
Fidelity Emerging Markets Debt Local Currency Central Fund | 1,412 |
Item 8.
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
See Item 7.
Item 9.
Proxy Disclosures for Open-End Management Investment Companies
See Item 7.
Item 10.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
See Item 7.
Item 11.
Statement Regarding Basis for Approval of Investment Advisory Contract
See Item 7.
Item 12.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 13.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 14.
Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 15.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Hanover Street Trust’s Board of Trustees.
Item 16.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Hanover Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 17.
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Hanover Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer (Principal Executive Officer) | |
Date: | August 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer (Principal Executive Officer) | |
Date: | August 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer (Principal Financial Officer) | |
Date: | August 22, 2024 |