Quarterly Holdings Report
for
Fidelity® Emerging Markets Debt Central Fund
March 31, 2024
EMC-NPRT1-0524
1.926210.113
Nonconvertible Bonds - 41.9% | |||
Principal Amount (a) | Value ($) | ||
Azerbaijan - 0.6% | |||
Southern Gas Corridor CJSC 6.875% 3/24/26 (b) | 10,345,000 | 10,461,381 | |
State Oil Co. of Azerbaijan Republic 6.95% 3/18/30 (Reg. S) | 2,715,000 | 2,788,814 | |
TOTAL AZERBAIJAN | 13,250,195 | ||
Bahrain - 0.4% | |||
The Oil and Gas Holding Co.: | |||
7.5% 10/25/27 (b) | 5,980,000 | 6,136,975 | |
8.375% 11/7/28 (b) | 2,065,000 | 2,223,747 | |
TOTAL BAHRAIN | 8,360,722 | ||
Brazil - 4.8% | |||
Adecoagro SA 6% 9/21/27 (b) | 5,690,000 | 5,556,641 | |
Aegea Finance SARL 9% 1/20/31 (b) | 1,810,000 | 1,908,419 | |
Azul Secured Finance LLP: | |||
11.5% 5/28/29 (b) | 7,187,629 | 6,096,331 | |
11.93% 8/28/28 (b) | 2,970,000 | 3,019,658 | |
Banco Do Brasil SA 6% 3/18/31 (b) | 4,185,000 | 4,177,676 | |
Braskem Netherlands BV: | |||
5.875% 1/31/50 (b) | 2,980,000 | 2,296,865 | |
7.25% 2/13/33 (b) | 3,760,000 | 3,619,000 | |
8.5% 1/12/31 (b) | 5,940,000 | 6,112,260 | |
Cosan Luxembourg SA 7.25% 6/27/31 (b) | 2,990,000 | 3,040,083 | |
CSN Inova Ventures 6.75% 1/28/28 (b) | 4,940,000 | 4,796,740 | |
CSN Resources SA: | |||
5.875% 4/8/32 (b) | 3,945,000 | 3,427,515 | |
8.875% 12/5/30 (b) | 1,640,000 | 1,690,348 | |
Embraer Netherlands Finance BV: | |||
5.4% 2/1/27 | 1,950,000 | 1,942,078 | |
6.95% 1/17/28 (b) | 2,840,000 | 2,943,838 | |
7% 7/28/30 (b) | 4,900,000 | 5,112,905 | |
Guara Norte SARL 5.198% 6/15/34 (b) | 4,823,728 | 4,385,070 | |
MARB BondCo PLC 3.95% 1/29/31 (b) | 4,085,000 | 3,338,711 | |
MC Brazil Downstream Trading SARL 7.25% 6/30/31 (b) | 9,878,308 | 8,905,294 | |
Minerva Luxembourg SA 8.875% 9/13/33 (b) | 3,205,000 | 3,372,157 | |
NBM U.S. Holdings, Inc. 6.625% 8/6/29 (b) | 6,775,000 | 6,732,656 | |
Nexa Resources SA 6.5% 1/18/28 (b) | 5,960,000 | 5,980,488 | |
Petrorio Luxembourg SARL 6.125% 6/9/26 (b) | 2,315,000 | 2,269,279 | |
Raizen Fuels Finance SA 6.95% 3/5/54 (b) | 3,610,000 | 3,701,279 | |
Samarco Mineracao SA 9.0494% 6/30/31 pay-in-kind (b)(c) | 6,890,000 | 6,201,000 | |
Sitios Latinoamerica S.A.B. de CV 5.375% 4/4/32 (b) | 3,725,000 | 3,472,398 | |
Suzano Austria GmbH 3.75% 1/15/31 | 2,435,000 | 2,150,409 | |
TOTAL BRAZIL | 106,249,098 | ||
Burkina Faso - 0.2% | |||
Endeavour Mining PLC 5% 10/14/26 (b) | 5,435,000 | 5,125,884 | |
Cambodia - 0.2% | |||
NagaCorp Ltd. 7.95% 7/6/24 (Reg. S) | 5,630,000 | 5,542,172 | |
Chile - 2.2% | |||
Antofagasta PLC: | |||
2.375% 10/14/30 (b) | 8,065,000 | 6,696,450 | |
5.625% 5/13/32 (b) | 2,750,000 | 2,746,563 | |
Chile Electricity LUX MPC SARL 6.01% 1/20/33 (b) | 1,820,000 | 1,843,888 | |
Corporacion Nacional del Cobre de Chile (Codelco): | |||
3% 9/30/29 (b) | 1,225,000 | 1,084,125 | |
3.15% 1/14/30 (b) | 3,200,000 | 2,824,582 | |
3.7% 1/30/50 (b) | 7,485,000 | 5,148,277 | |
5.125% 2/2/33 (b) | 2,890,000 | 2,744,597 | |
5.95% 1/8/34 (b) | 3,110,000 | 3,113,888 | |
6.3% 9/8/53 (b) | 2,865,000 | 2,846,198 | |
6.44% 1/26/36 (b) | 2,005,000 | 2,070,527 | |
Empresa Nacional de Petroleo 6.15% 5/10/33 (b) | 1,245,000 | 1,253,948 | |
Inversiones CMPC SA 3% 4/6/31 (b) | 2,435,000 | 2,075,077 | |
Sable International Finance Ltd. 5.75% 9/7/27 (b) | 5,512,000 | 5,294,772 | |
VTR Comunicaciones SpA: | |||
4.375% 4/15/29 (b) | 1,715,000 | 1,184,958 | |
5.125% 1/15/28 (b) | 7,875,000 | 5,551,875 | |
VTR Finance BV 6.375% 7/15/28 (b) | 3,655,000 | 2,055,938 | |
TOTAL CHILE | 48,535,663 | ||
China - 2.8% | |||
Alibaba Group Holding Ltd. 2.125% 2/9/31 | 3,395,000 | 2,821,720 | |
ENN Clean Energy International Investment Ltd. 3.375% 5/12/26 (b) | 6,210,000 | 5,880,094 | |
ENN Energy Holdings Ltd. 4.625% 5/17/27 (b) | 6,780,000 | 6,631,688 | |
JD.com, Inc. 3.375% 1/14/30 | 9,535,000 | 8,682,809 | |
Lenovo Group Ltd.: | |||
3.421% 11/2/30 (b) | 5,555,000 | 4,871,041 | |
5.875% 4/24/25 (Reg. S) | 1,295,000 | 1,295,809 | |
Meituan: | |||
2.125% 10/28/25 (b) | 3,170,000 | 2,999,613 | |
3.05% 10/28/30 (b) | 3,860,000 | 3,306,746 | |
Prosus NV: | |||
2.031% 8/3/32 (Reg. S) | EUR | 2,395,000 | 2,066,353 |
3.061% 7/13/31 (b) | 1,925,000 | 1,554,438 | |
3.68% 1/21/30 (b) | 4,225,000 | 3,693,706 | |
4.027% 8/3/50 (b) | 6,840,000 | 4,381,875 | |
4.193% 1/19/32 (b) | 2,090,000 | 1,810,463 | |
Sinopec Group Overseas Development Ltd. 2.7% 5/13/30 (b) | 2,555,000 | 2,302,029 | |
Tencent Holdings Ltd.: | |||
1.81% 1/26/26 (b) | 2,715,000 | 2,556,342 | |
2.39% 6/3/30 (b) | 5,625,000 | 4,804,538 | |
3.975% 4/11/29 (b) | 2,040,000 | 1,938,071 | |
TOTAL CHINA | 61,597,335 | ||
Colombia - 2.1% | |||
Aris Mining Corp. 6.875% 8/9/26 (b) | 6,975,000 | 6,294,938 | |
Canacol Energy Ltd. 5.75% 11/24/28 (b) | 2,630,000 | 1,167,063 | |
Colombia Telecomunicaciones SA 4.95% 7/17/30 (b) | 2,420,000 | 1,678,119 | |
Ecopetrol SA: | |||
4.625% 11/2/31 | 4,030,000 | 3,328,579 | |
8.875% 1/13/33 | 9,675,000 | 10,163,491 | |
EnfraGen Energia Sur SA 5.375% 12/30/30 (b) | 10,800,000 | 8,964,000 | |
GeoPark Ltd. 5.5% 1/17/27 (b) | 5,105,000 | 4,632,788 | |
Gran Tierra Energy, Inc. 9.5% 10/15/29 (b) | 2,755,000 | 2,563,018 | |
Oleoducto Central SA 4% 7/14/27 (b) | 4,870,000 | 4,542,797 | |
Termocandelaria Power Ltd. 7.875% 1/30/29 (b) | 4,599,000 | 4,581,754 | |
TOTAL COLOMBIA | 47,916,547 | ||
Costa Rica - 0.2% | |||
Liberty Costa Rica SR SF 10.875% 1/15/31 (b) | 4,245,000 | 4,465,209 | |
Czech Republic - 0.2% | |||
Energo-Pro A/S 8.5% 2/4/27 (b) | 4,800,000 | 4,861,500 | |
Egypt - 0.3% | |||
Energean PLC 6.5% 4/30/27 (b) | 5,960,000 | 5,611,713 | |
Ghana - 1.2% | |||
Kosmos Energy Ltd. 7.125% 4/4/26 (b) | 15,770,000 | 15,518,666 | |
Tullow Oil PLC: | |||
7% 3/1/25 (b) | 1,340,000 | 1,299,381 | |
10.25% 5/15/26 (b) | 9,730,000 | 9,245,446 | |
TOTAL GHANA | 26,063,493 | ||
Guatemala - 1.0% | |||
Central American Bottling Corp. 5.25% 4/27/29 (b) | 5,930,000 | 5,625,435 | |
CT Trust 5.125% 2/3/32 (b) | 7,665,000 | 6,750,182 | |
Investment Energy Resources Ltd. 6.25% 4/26/29 (b) | 5,490,000 | 5,277,263 | |
Millicom International Cellular SA: | |||
4.5% 4/27/31 (b) | 3,485,000 | 2,962,250 | |
7.375% 4/2/32 (b) | 2,650,000 | 2,652,650 | |
TOTAL GUATEMALA | 23,267,780 | ||
Hungary - 0.2% | |||
Magyar Export-Import Bank 6.125% 12/4/27 (b) | 1,900,000 | 1,911,875 | |
OTP Bank PLC 8.75% 5/15/33 (Reg. S) (c) | 2,150,000 | 2,226,379 | |
TOTAL HUNGARY | 4,138,254 | ||
India - 0.6% | |||
CA Magnum Holdings 5.375% 10/31/26 (b) | 6,630,000 | 6,364,800 | |
Shriram Finance Ltd.: | |||
4.15% 7/18/25 (b) | 5,420,000 | 5,247,238 | |
6.625% 4/22/27 (b) | 2,265,000 | 2,269,757 | |
TOTAL INDIA | 13,881,795 | ||
Indonesia - 1.8% | |||
Medco Laurel Tree PTE Ltd. 6.95% 11/12/28 (b) | 6,895,000 | 6,679,118 | |
Medco Maple Tree Pte. Ltd. 8.96% 4/27/29 (b) | 5,425,000 | 5,645,391 | |
Medco Oak Tree Pte Ltd. 7.375% 5/14/26 (b) | 1,225,000 | 1,226,148 | |
PT Adaro Indonesia 4.25% 10/31/24 (b) | 7,030,000 | 6,922,353 | |
PT Freeport Indonesia: | |||
4.763% 4/14/27 (b) | 2,445,000 | 2,385,098 | |
5.315% 4/14/32 (b) | 4,145,000 | 4,046,556 | |
6.2% 4/14/52 (b) | 2,830,000 | 2,804,353 | |
PT Indonesia Asahan Aluminium 5.45% 5/15/30 (b) | 6,710,000 | 6,617,301 | |
PT Pertamina Geothermal Energy 5.15% 4/27/28 (b) | 2,020,000 | 2,011,163 | |
PT Pertamina Persero 4.175% 1/21/50 (b) | 2,465,000 | 1,955,053 | |
TOTAL INDONESIA | 40,292,534 | ||
Israel - 1.2% | |||
Energean Israel Finance Ltd. 4.875% 3/30/26 (Reg. S) (b) | 7,455,000 | 7,063,613 | |
Israel Electric Corp. Ltd. 3.75% 2/22/32 (Reg. S) (b) | 6,545,000 | 5,522,619 | |
Leviathan Bond Ltd. 6.125% 6/30/25 (Reg. S) (b) | 5,375,000 | 5,276,960 | |
Teva Pharmaceutical Finance Netherlands III BV: | |||
4.75% 5/9/27 | 3,015,000 | 2,918,651 | |
7.875% 9/15/29 | 5,455,000 | 5,855,833 | |
TOTAL ISRAEL | 26,637,676 | ||
Kazakhstan - 0.5% | |||
KazMunaiGaz National Co.: | |||
3.5% 4/14/33 (b) | 3,900,000 | 3,244,313 | |
5.375% 4/24/30 (b) | 715,000 | 701,817 | |
5.75% 4/19/47 (b) | 1,965,000 | 1,707,094 | |
Nostrum Oil & Gas Finance BV 14% 6/30/26 pay-in-kind (b)(c) | 140,566 | 30,177 | |
Tengizchevroil Finance Co. International Ltd. 3.25% 8/15/30 (b) | 7,235,000 | 5,880,698 | |
TOTAL KAZAKHSTAN | 11,564,099 | ||
Korea (South) - 0.2% | |||
POSCO: | |||
5.75% 1/17/28 (b) | 3,070,000 | 3,115,553 | |
5.875% 1/17/33 (b) | 1,820,000 | 1,889,535 | |
TOTAL KOREA (SOUTH) | 5,005,088 | ||
Kuwait - 0.4% | |||
MEGlobal BV: | |||
2.625% 4/28/28 (b) | 3,085,000 | 2,751,434 | |
4.25% 11/3/26 (b) | 2,525,000 | 2,425,578 | |
MEGlobal Canada, Inc. 5% 5/18/25 (b) | 3,905,000 | 3,857,320 | |
TOTAL KUWAIT | 9,034,332 | ||
Malaysia - 1.0% | |||
GENM Capital Labuan Ltd. 3.882% 4/19/31 (b) | 6,685,000 | 5,857,731 | |
MISC Capital Two (Labuan) Ltd.: | |||
3.625% 4/6/25 (b) | 3,845,000 | 3,766,898 | |
3.75% 4/6/27 (b) | 6,135,000 | 5,855,091 | |
Petronas Capital Ltd.: | |||
3.404% 4/28/61 (b) | 5,195,000 | 3,572,757 | |
3.5% 4/21/30 (b) | 2,620,000 | 2,405,998 | |
TOTAL MALAYSIA | 21,458,475 | ||
Mauritius - 0.2% | |||
AXIAN Telecom 7.375% 2/16/27 (b) | 5,710,000 | 5,541,841 | |
Mexico - 5.3% | |||
Bimbo Bakeries U.S.A., Inc.: | |||
5.375% 1/9/36 (b) | 1,920,000 | 1,892,794 | |
6.4% 1/15/34 (b) | 3,935,000 | 4,198,566 | |
Braskem Idesa SAPI: | |||
6.99% 2/20/32 (b) | 2,045,000 | 1,577,922 | |
7.45% 11/15/29 (b) | 6,600,000 | 5,424,375 | |
Buffalo Energy Mexico Holdings 7.875% 2/15/39 (b) | 3,200,000 | 3,442,496 | |
FEL Energy VI SARL 5.75% 12/1/40 (b) | 2,976,362 | 2,727,092 | |
Fresnillo PLC 4.25% 10/2/50 (b) | 3,940,000 | 2,965,717 | |
Metalsa SA de CV 3.75% 5/4/31 (b) | 5,150,000 | 4,161,844 | |
Orbia Advance Corp. S.A.B. de CV: | |||
1.875% 5/11/26 (b) | 6,915,000 | 6,316,092 | |
2.875% 5/11/31 (b) | 3,575,000 | 2,962,781 | |
Petroleos Mexicanos: | |||
5.95% 1/28/31 | 3,135,000 | 2,512,389 | |
6.5% 6/2/41 | 2,085,000 | 1,416,236 | |
6.625% 6/15/35 | 21,915,000 | 16,633,485 | |
6.7% 2/16/32 | 12,107,000 | 10,079,078 | |
6.75% 9/21/47 | 8,752,000 | 5,785,072 | |
6.875% 8/4/26 | 5,035,000 | 4,885,209 | |
6.95% 1/28/60 | 5,890,000 | 3,893,585 | |
7.69% 1/23/50 | 41,444,000 | 29,778,343 | |
TV Azteca SA de CV 8.25% (Reg. S) (d) | 19,500,000 | 7,329,660 | |
TOTAL MEXICO | 117,982,736 | ||
Morocco - 0.6% | |||
OCP SA: | |||
3.75% 6/23/31 (b) | 3,980,000 | 3,368,393 | |
5.625% 4/25/24 (b) | 7,250,000 | 7,239,270 | |
6.875% 4/25/44 (b) | 4,080,000 | 3,840,422 | |
TOTAL MOROCCO | 14,448,085 | ||
Nigeria - 0.5% | |||
Access Bank PLC 6.125% 9/21/26 (b) | 4,717,000 | 4,365,206 | |
IHS Holding Ltd. 5.625% 11/29/26 (b) | 4,485,000 | 4,176,656 | |
IHS Netherlands Holdco BV 8% 9/18/27 (b) | 3,400,000 | 3,251,250 | |
TOTAL NIGERIA | 11,793,112 | ||
Oman - 0.2% | |||
Lamar Funding Ltd. 3.958% 5/7/25 (b) | 5,185,000 | 5,068,338 | |
Panama - 0.5% | |||
Aeropuerto Internacional de Tocumen SA 5.125% 8/11/61 (b) | 2,205,000 | 1,605,516 | |
SPARC EM SPC 0% 12/5/22 (b) | 132,705 | 132,533 | |
Telecomunicaciones Digitales SA 4.5% 1/30/30 (b) | 10,120,000 | 9,025,775 | |
TOTAL PANAMA | 10,763,824 | ||
Paraguay - 0.3% | |||
Telefonica Celular del Paraguay SA 5.875% 4/15/27 (b) | 6,440,000 | 6,281,013 | |
Peru - 0.5% | |||
Auna SA 10% 12/15/29 (b) | 2,839,200 | 2,947,090 | |
Camposol SA 6% 2/3/27 (b) | 3,258,000 | 2,456,736 | |
Compania de Minas Buenaventura SAA 5.5% 7/23/26 (b) | 2,650,000 | 2,549,797 | |
Volcan Compania Minera SAA 4.375% 2/11/26 (b) | 3,580,000 | 2,209,531 | |
TOTAL PERU | 10,163,154 | ||
Puerto Rico - 0.5% | |||
C&W Senior Finance Ltd. 6.875% 9/15/27 (b) | 6,160,000 | 5,836,600 | |
LCPR Senior Secured Financing DAC 5.125% 7/15/29 (b) | 7,080,000 | 5,929,313 | |
TOTAL PUERTO RICO | 11,765,913 | ||
Qatar - 1.8% | |||
QatarEnergy: | |||
1.375% 9/12/26 (b) | 8,825,000 | 8,091,422 | |
2.25% 7/12/31 (b) | 13,585,000 | 11,385,928 | |
3.125% 7/12/41 (b) | 13,455,000 | 10,040,256 | |
3.3% 7/12/51 (b) | 10,035,000 | 7,087,219 | |
Qtel International Finance Ltd. 2.625% 4/8/31 (b) | 4,265,000 | 3,666,621 | |
TOTAL QATAR | 40,271,446 | ||
Russia - 0.0% | |||
TMK Capital SA 4.3% (Reg. S) (d)(e)(f) | 4,020,000 | 603,000 | |
Saudi Arabia - 3.7% | |||
EIG Pearl Holdings SARL 3.545% 8/31/36 (b) | 14,270,000 | 12,187,472 | |
GACI First Investment 5.25% 10/13/32 (Reg. S) | 2,155,000 | 2,177,897 | |
Greensaif Pipelines Bidco SARL: | |||
6.129% 2/23/38 (b) | 10,050,000 | 10,222,860 | |
6.51% 2/23/42 (b) | 3,075,000 | 3,197,039 | |
SA Global Sukuk Ltd. 1.602% 6/17/26 (b) | 8,515,000 | 7,887,019 | |
Saudi Arabian Oil Co.: | |||
2.25% 11/24/30 (b) | 11,220,000 | 9,459,863 | |
3.25% 11/24/50 (b) | 8,735,000 | 5,920,146 | |
3.5% 4/16/29 (b) | 14,040,000 | 13,083,174 | |
3.5% 11/24/70 (b) | 3,405,000 | 2,223,891 | |
4.25% 4/16/39 (b) | 15,565,000 | 13,624,239 | |
4.375% 4/16/49 (b) | 2,375,000 | 1,971,992 | |
TOTAL SAUDI ARABIA | 81,955,592 | ||
South Africa - 1.8% | |||
Eskom Holdings SOC Ltd.: | |||
6.35% 8/10/28 (b) | 6,080,000 | 5,821,600 | |
7.125% 2/11/25 (b) | 7,475,000 | 7,441,363 | |
8.45% 8/10/28 (b) | 2,445,000 | 2,432,775 | |
Liquid Telecommunications Financing PLC 5.5% 9/4/26 (b) | 8,950,000 | 5,191,000 | |
MTN (Mauritius) Investments Ltd. 6.5% 10/13/26 (b) | 3,630,000 | 3,658,359 | |
Sasol Financing U.S.A. LLC: | |||
4.375% 9/18/26 | 9,305,000 | 8,746,700 | |
5.5% 3/18/31 | 2,455,000 | 2,068,212 | |
Stillwater Mining Co. 4% 11/16/26 (b) | 4,430,000 | 3,959,313 | |
TOTAL SOUTH AFRICA | 39,319,322 | ||
Tanzania - 0.2% | |||
HTA Group Ltd. 7% 12/18/25 (b) | 3,800,000 | 3,792,875 | |
Thailand - 0.1% | |||
PTT Treasury Center Co. Ltd. 3.7% 7/16/70 (b) | 2,635,000 | 1,855,989 | |
Turkey - 0.3% | |||
Aydem Yenilenebilir Enerji A/S 7.75% 2/2/27 (b) | 2,625,000 | 2,520,000 | |
Turkiye Sise ve Cam Fabrikalari A/S 6.95% 3/14/26 (b) | 5,110,000 | 5,129,571 | |
TOTAL TURKEY | 7,649,571 | ||
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) | 2,455,000 | 1,485,275 | |
7.65% (Reg. S) (d) | 6,445,750 | 5,253,286 | |
TOTAL UKRAINE | 8,198,561 | ||
United Arab Emirates - 2.3% | |||
Abu Dhabi National Energy Co. PJSC: | |||
4% 10/3/49 (b) | 4,850,000 | 3,940,625 | |
4.696% 4/24/33 (b) | 3,455,000 | 3,377,263 | |
4.875% 4/23/30 (b) | 2,105,000 | 2,108,289 | |
DP World Crescent Ltd. 3.7495% 1/30/30 (b) | 4,335,000 | 4,023,422 | |
DP World Ltd. 5.625% 9/25/48 (b) | 4,405,000 | 4,199,683 | |
Galaxy Pipeline Assets BidCo Ltd.: | |||
2.16% 3/31/34 (b) | 3,423,771 | 2,946,583 | |
2.625% 3/31/36 (b) | 11,375,000 | 9,281,289 | |
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC 7.125% 7/31/26 (b) | 6,415,000 | 6,420,389 | |
MDGH GMTN RSC Ltd.: | |||
2.875% 11/7/29 (b) | 6,010,000 | 5,425,903 | |
4.375% 11/22/33 (b) | 3,045,000 | 2,896,556 | |
5.084% 5/22/53 (b) | 3,925,000 | 3,701,609 | |
5.5% 4/28/33 (b) | 3,110,000 | 3,216,642 | |
TOTAL UNITED ARAB EMIRATES | 51,538,253 | ||
United Kingdom - 0.1% | |||
Celtic Resources Holdings DAC 4.125% (b)(d)(f) | 5,060,000 | 725,402 | |
Standard Chartered Bank 18.4607% 8/11/32 (b)(f) | KES | 179,450,000 | 1,352,764 |
TOTAL UNITED KINGDOM | 2,078,166 | ||
United States of America - 0.2% | |||
Sagicor Financial Co. Ltd. 5.3% 5/13/28 (b) | 3,745,000 | 3,568,611 | |
Venezuela - 0.1% | |||
Petroleos de Venezuela SA: | |||
5.375% (d) | 5,000,000 | 457,408 | |
5.5% (d) | 330,000 | 29,700 | |
6% (b)(d) | 12,130,000 | 1,117,072 | |
6% (b)(d) | 9,685,000 | 876,493 | |
9.75% (b)(d) | 1,315,000 | 144,650 | |
12.75% (b)(d) | 1,310,000 | 159,165 | |
TOTAL VENEZUELA | 2,784,488 | ||
Vietnam - 0.2% | |||
Mong Duong Finance Holdings BV 5.125% 5/7/29 (b) | 4,851,247 | 4,632,941 | |
TOTAL NONCONVERTIBLE BONDS (Cost $1,041,903,667) | 934,916,395 | ||
Government Obligations - 50.1% | |||
Principal Amount (a) | Value ($) | ||
Angola - 0.8% | |||
Angola Republic: | |||
8.25% 5/9/28 (b) | 6,225,000 | 5,997,398 | |
8.75% 4/14/32 (b) | 2,770,000 | 2,548,400 | |
9.375% 5/8/48 (b) | 2,395,000 | 2,066,436 | |
9.5% 11/12/25 (b) | 7,880,000 | 8,025,288 | |
TOTAL ANGOLA | 18,637,522 | ||
Argentina - 3.2% | |||
Argentine Republic: | |||
0.75% 7/9/30 (g) | 57,077,307 | 29,626,690 | |
1% 7/9/29 | 8,355,564 | 4,454,560 | |
3.5% 7/9/41 (g) | 11,525,000 | 4,633,050 | |
3.625% 7/9/35 (g) | 35,457,842 | 14,679,547 | |
4.25% 1/9/38 (g) | 17,606,530 | 8,151,823 | |
Bonos para la Reconstruccion de una Argentina Libre 0% 6/30/25 | 3,575,000 | 3,161,909 | |
Provincia de Cordoba: | |||
6.875% 12/10/25 (b) | 1,716,510 | 1,502,513 | |
6.99% 6/1/27 (b) | 5,681,546 | 4,355,928 | |
TOTAL ARGENTINA | 70,566,020 | ||
Armenia - 0.1% | |||
Republic of Armenia 3.6% 2/2/31 (b) | 2,705,000 | 2,191,050 | |
Bahamas (Nassau) - 0.1% | |||
Bahamian Republic 6% 11/21/28 (b) | 3,180,000 | 2,845,106 | |
Bahrain - 0.1% | |||
Bahrain Kingdom: | |||
5.625% 5/18/34 (b) | 1,330,000 | 1,199,909 | |
7.5% 2/12/36 (b) | 1,925,000 | 1,974,328 | |
TOTAL BAHRAIN | 3,174,237 | ||
Barbados - 0.2% | |||
Barbados Government 6.5% 10/1/29 (b) | 3,680,000 | 3,489,100 | |
Benin - 0.3% | |||
Republic of Benin: | |||
4.875% 1/19/32 (b) | EUR | 3,655,000 | 3,322,143 |
7.96% 2/13/38 (b) | 2,910,000 | 2,834,522 | |
TOTAL BENIN | 6,156,665 | ||
Bermuda - 0.6% | |||
Bermuda Government: | |||
2.375% 8/20/30 (b) | 520,000 | 435,825 | |
3.375% 8/20/50 (b) | 1,825,000 | 1,226,172 | |
3.717% 1/25/27 (b) | 7,540,000 | 7,198,344 | |
4.75% 2/15/29 (b) | 4,160,000 | 4,026,714 | |
5% 7/15/32 (b) | 1,590,000 | 1,534,847 | |
TOTAL BERMUDA | 14,421,902 | ||
Brazil - 1.4% | |||
Brazilian Federative Republic: | |||
3.875% 6/12/30 | 6,795,000 | 6,125,693 | |
6% 10/20/33 | 3,380,000 | 3,344,510 | |
7.125% 1/20/37 | 6,420,000 | 6,872,272 | |
7.125% 5/13/54 | 835,000 | 841,680 | |
8.25% 1/20/34 | 12,015,000 | 13,799,228 | |
TOTAL BRAZIL | 30,983,383 | ||
Chile - 1.3% | |||
Chilean Republic: | |||
2.45% 1/31/31 | 13,005,000 | 11,131,467 | |
2.75% 1/31/27 | 2,835,000 | 2,660,470 | |
3.1% 1/22/61 | 7,010,000 | 4,420,681 | |
3.5% 1/31/34 | 2,180,000 | 1,912,139 | |
4% 1/31/52 | 1,910,000 | 1,509,497 | |
4.34% 3/7/42 | 2,815,000 | 2,456,967 | |
5.33% 1/5/54 | 4,970,000 | 4,785,178 | |
TOTAL CHILE | 28,876,399 | ||
Colombia - 1.9% | |||
Colombian Republic: | |||
3% 1/30/30 | 8,745,000 | 7,236,488 | |
3.125% 4/15/31 | 6,095,000 | 4,860,763 | |
3.25% 4/22/32 | 3,005,000 | 2,337,890 | |
4.125% 5/15/51 | 2,555,000 | 1,587,933 | |
5% 6/15/45 | 9,880,000 | 7,148,180 | |
5.2% 5/15/49 | 7,200,000 | 5,274,000 | |
6.125% 1/18/41 | 440,000 | 379,500 | |
7.375% 9/18/37 | 1,575,000 | 1,563,188 | |
7.5% 2/2/34 | 2,055,000 | 2,097,128 | |
8% 4/20/33 | 1,530,000 | 1,615,680 | |
8% 11/14/35 | 3,060,000 | 3,213,000 | |
8.75% 11/14/53 | 2,895,000 | 3,139,628 | |
Ecopetrol SA 8.375% 1/19/36 | 2,905,000 | 2,926,788 | |
TOTAL COLOMBIA | 43,380,166 | ||
Costa Rica - 0.5% | |||
Costa Rican Republic: | |||
5.625% 4/30/43 (b) | 2,810,000 | 2,537,781 | |
6.125% 2/19/31 (b) | 1,370,000 | 1,386,269 | |
6.55% 4/3/34 (b) | 3,715,000 | 3,845,025 | |
7% 4/4/44 (b) | 585,000 | 603,720 | |
7.3% 11/13/54 (b) | 3,030,000 | 3,220,322 | |
TOTAL COSTA RICA | 11,593,117 | ||
Dominican Republic - 2.2% | |||
Dominican Republic: | |||
4.5% 1/30/30 (b) | 2,700,000 | 2,452,950 | |
4.875% 9/23/32 (b) | 13,500,000 | 12,103,594 | |
5.875% 1/30/60 (b) | 3,120,000 | 2,652,975 | |
5.95% 1/25/27 (b) | 6,410,000 | 6,371,540 | |
6% 7/19/28 (b) | 4,120,000 | 4,099,400 | |
6.4% 6/5/49 (b) | 1,825,000 | 1,714,359 | |
6.5% 2/15/48 (b) | 2,285,000 | 2,172,892 | |
6.85% 1/27/45 (b) | 3,435,000 | 3,395,498 | |
6.875% 1/29/26 (b) | 7,455,000 | 7,525,823 | |
7.05% 2/3/31 (b) | 2,235,000 | 2,314,622 | |
7.45% 4/30/44 (b) | 3,655,000 | 3,848,030 | |
TOTAL DOMINICAN REPUBLIC | 48,651,683 | ||
Ecuador - 0.5% | |||
Ecuador Republic: | |||
3.5% 7/31/35 (b)(g) | 7,865,000 | 4,121,260 | |
6% 7/31/30 (b)(g) | 10,420,000 | 7,054,340 | |
TOTAL ECUADOR | 11,175,600 | ||
Egypt - 1.5% | |||
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 | 5,301,442 |
7.5% 1/31/27 (b) | 7,635,000 | 7,353,459 | |
7.5% 2/16/61 (b) | 5,250,000 | 3,766,875 | |
7.6003% 3/1/29 (b) | 2,720,000 | 2,510,900 | |
7.903% 2/21/48 (b) | 4,875,000 | 3,701,953 | |
8.5% 1/31/47 (b) | 7,395,000 | 5,869,781 | |
8.7002% 3/1/49 (b) | 4,945,000 | 4,000,814 | |
TOTAL EGYPT | 32,505,224 | ||
El Salvador - 0.2% | |||
El Salvador Republic: | |||
6.375% 1/18/27 (b) | 810,000 | 704,700 | |
7.1246% 1/20/50 (b) | 3,320,000 | 2,288,725 | |
7.625% 2/1/41 (b) | 935,000 | 684,420 | |
7.65% 6/15/35 (b) | 1,550,000 | 1,180,325 | |
TOTAL EL SALVADOR | 4,858,170 | ||
Gabon - 0.3% | |||
Gabonese Republic: | |||
6.625% 2/6/31 (b) | 4,270,000 | 3,640,175 | |
7% 11/24/31 (b) | 4,080,000 | 3,474,375 | |
TOTAL GABON | 7,114,550 | ||
Georgia - 0.2% | |||
Georgia Republic 2.75% 4/22/26 (b) | 4,090,000 | 3,804,978 | |
Ghana - 0.3% | |||
Ghana Republic: | |||
7.75% (b)(d) | 3,490,000 | 1,808,256 | |
8.627% (b)(d) | 2,150,000 | 1,081,719 | |
10.75% 10/14/30 (b) | 4,745,000 | 3,231,048 | |
TOTAL GHANA | 6,121,023 | ||
Guatemala - 0.3% | |||
Guatemalan Republic: | |||
4.9% 6/1/30 (b) | 2,510,000 | 2,395,481 | |
5.375% 4/24/32 (b) | 1,340,000 | 1,287,474 | |
6.125% 6/1/50 (b) | 2,620,000 | 2,427,430 | |
6.6% 6/13/36 (b) | 1,465,000 | 1,496,589 | |
TOTAL GUATEMALA | 7,606,974 | ||
Honduras - 0.1% | |||
Republic of Honduras 6.25% 1/19/27 (b) | 1,065,000 | 1,028,058 | |
Hungary - 0.8% | |||
Hungarian Republic: | |||
2.125% 9/22/31 (b) | 2,190,000 | 1,737,743 | |
3.125% 9/21/51 (b) | 3,370,000 | 2,133,631 | |
5.25% 6/16/29 (b) | 3,080,000 | 3,049,200 | |
5.5% 6/16/34 (b) | 7,105,000 | 6,989,544 | |
6.125% 5/22/28 (b) | 2,280,000 | 2,337,713 | |
6.75% 9/25/52 (b) | 1,450,000 | 1,557,416 | |
TOTAL HUNGARY | 17,805,247 | ||
Indonesia - 2.3% | |||
Indonesian Republic: | |||
3.2% 9/23/61 | 3,310,000 | 2,197,013 | |
4.35% 1/11/48 | 4,095,000 | 3,584,405 | |
5.125% 1/15/45 (b) | 9,585,000 | 9,490,204 | |
5.25% 1/17/42 (b) | 3,965,000 | 3,974,913 | |
5.95% 1/8/46 (b) | 4,505,000 | 4,858,361 | |
6.625% 2/17/37 (b) | 821,000 | 927,217 | |
6.75% 1/15/44 (b) | 3,710,000 | 4,351,134 | |
7.75% 1/17/38 (b) | 8,865,000 | 11,030,470 | |
8.5% 10/12/35 (b) | 9,215,000 | 11,800,959 | |
TOTAL INDONESIA | 52,214,676 | ||
Israel - 0.3% | |||
Israeli State: | |||
3.375% 1/15/50 | 6,775,000 | 4,547,719 | |
5.75% 3/12/54 | 3,175,000 | 3,039,174 | |
TOTAL ISRAEL | 7,586,893 | ||
Ivory Coast - 0.8% | |||
Ivory Coast: | |||
5.875% 10/17/31 (b) | EUR | 9,150,000 | 9,106,438 |
6.375% 3/3/28 (b) | 5,505,000 | 5,432,747 | |
8.25% 1/30/37 (b) | 2,990,000 | 2,993,738 | |
TOTAL IVORY COAST | 17,532,923 | ||
Jamaica - 0.1% | |||
Jamaican Government 7.875% 7/28/45 | 1,995,000 | 2,347,242 | |
Jordan - 0.5% | |||
Jordanian Kingdom: | |||
4.95% 7/7/25 (b) | 6,605,000 | 6,410,978 | |
7.375% 10/10/47 (b) | 1,240,000 | 1,094,688 | |
7.5% 1/13/29 (b) | 1,060,000 | 1,058,344 | |
7.75% 1/15/28 (b) | 3,350,000 | 3,398,156 | |
TOTAL JORDAN | 11,962,166 | ||
Kenya - 0.4% | |||
Republic of Kenya: | |||
6.3% 1/23/34 (b) | 1,785,000 | 1,459,238 | |
7% 5/22/27 (b) | 2,635,000 | 2,569,125 | |
7.25% 2/28/28 (b) | 1,010,000 | 964,156 | |
8% 5/22/32 (b) | 1,210,000 | 1,133,997 | |
9.75% 2/16/31 (b) | 3,480,000 | 3,558,300 | |
TOTAL KENYA | 9,684,816 | ||
Lebanon - 0.1% | |||
Lebanese Republic: | |||
5.8% (d) | 7,337,000 | 436,552 | |
6.375% (d) | 9,133,000 | 598,613 | |
TOTAL LEBANON | 1,035,165 | ||
Mexico - 2.0% | |||
United Mexican States: | |||
3.5% 2/12/34 | 6,600,000 | 5,502,750 | |
3.75% 4/19/71 | 9,095,000 | 5,806,589 | |
4.875% 5/19/33 | 3,625,000 | 3,436,953 | |
5.75% 10/12/2110 | 9,700,000 | 8,493,563 | |
6% 5/7/36 | 6,000,000 | 6,012,000 | |
6.05% 1/11/40 | 7,695,000 | 7,620,455 | |
6.338% 5/4/53 | 3,010,000 | 2,977,078 | |
6.35% 2/9/35 | 4,645,000 | 4,798,866 | |
TOTAL MEXICO | 44,648,254 | ||
Mongolia - 0.0% | |||
Mongolia Government 7.875% 6/5/29 (b) | 840,000 | 866,342 | |
Montenegro - 0.2% | |||
Republic of Montenegro 7.25% 3/12/31 (b) | 3,830,000 | 3,891,701 | |
Morocco - 0.2% | |||
Moroccan Kingdom 6.5% 9/8/33 (b) | 4,925,000 | 5,085,457 | |
Nigeria - 1.2% | |||
Republic of Nigeria: | |||
, yield at date of purchase 26.7874% 3/6/25 | NGN | 6,029,985,000 | 3,809,010 |
6.125% 9/28/28 (b) | 9,170,000 | 8,298,850 | |
6.5% 11/28/27 (b) | 2,250,000 | 2,115,703 | |
7.143% 2/23/30 (b) | 3,780,000 | 3,432,713 | |
7.625% 11/21/25 (b) | 5,150,000 | 5,135,516 | |
7.696% 2/23/38 (b) | 2,930,000 | 2,408,094 | |
7.875% 2/16/32 (b) | 1,590,000 | 1,440,441 | |
TOTAL NIGERIA | 26,640,327 | ||
Oman - 1.5% | |||
Sultanate of Oman: | |||
5.375% 3/8/27 (b) | 1,305,000 | 1,298,475 | |
5.625% 1/17/28 (b) | 9,940,000 | 9,985,923 | |
6% 8/1/29 (b) | 5,765,000 | 5,892,911 | |
6.25% 1/25/31 (b) | 3,725,000 | 3,856,539 | |
6.5% 3/8/47 (b) | 1,235,000 | 1,245,034 | |
6.75% 1/17/48 (b) | 9,840,000 | 10,079,850 | |
7% 1/25/51 (b) | 1,060,000 | 1,116,313 | |
TOTAL OMAN | 33,475,045 | ||
Pakistan - 0.5% | |||
Islamic Republic of Pakistan: | |||
6% 4/8/26 (b) | 7,700,000 | 6,853,847 | |
6.875% 12/5/27 (b) | 1,375,000 | 1,175,625 | |
7.375% 4/8/31 (b) | 5,095,000 | 4,000,135 | |
TOTAL PAKISTAN | 12,029,607 | ||
Panama - 1.2% | |||
Panamanian Republic: | |||
2.252% 9/29/32 | 4,545,000 | 3,220,133 | |
3.298% 1/19/33 | 4,785,000 | 3,673,983 | |
3.87% 7/23/60 | 6,405,000 | 3,682,875 | |
4.5% 5/15/47 | 2,710,000 | 1,866,513 | |
4.5% 4/16/50 | 8,410,000 | 5,650,469 | |
6.853% 3/28/54 | 1,865,000 | 1,685,028 | |
7.875% 3/1/57 | 2,895,000 | 2,912,370 | |
8% 3/1/38 | 3,060,000 | 3,200,760 | |
TOTAL PANAMA | 25,892,131 | ||
Paraguay - 0.5% | |||
Republic of Paraguay: | |||
2.739% 1/29/33 (b) | 2,485,000 | 2,011,297 | |
4.95% 4/28/31 (b) | 5,505,000 | 5,306,240 | |
5.4% 3/30/50 (b) | 2,220,000 | 1,952,906 | |
6% 2/9/36 (b) | 1,860,000 | 1,887,319 | |
TOTAL PARAGUAY | 11,157,762 | ||
Peru - 0.6% | |||
Peruvian Republic: | |||
2.783% 1/23/31 | 6,840,000 | 5,875,988 | |
3% 1/15/34 | 4,725,000 | 3,873,023 | |
3.3% 3/11/41 | 4,220,000 | 3,167,638 | |
TOTAL PERU | 12,916,649 | ||
Philippines - 0.6% | |||
Philippine Republic: | |||
2.65% 12/10/45 | 3,525,000 | 2,334,211 | |
2.95% 5/5/45 | 1,655,000 | 1,163,155 | |
5.5% 1/17/48 | 1,885,000 | 1,911,126 | |
5.609% 4/13/33 | 3,205,000 | 3,331,197 | |
5.95% 10/13/47 | 5,120,000 | 5,475,200 | |
TOTAL PHILIPPINES | 14,214,889 | ||
Poland - 0.6% | |||
Bank Gospodarstwa Krajowego: | |||
5.375% 5/22/33 (b) | 1,855,000 | 1,845,725 | |
6.25% 10/31/28 (b) | 1,700,000 | 1,774,460 | |
Polish Government: | |||
5.5% 4/4/53 | 2,090,000 | 2,089,394 | |
5.5% 3/18/54 | 2,860,000 | 2,838,693 | |
5.75% 11/16/32 | 4,375,000 | 4,580,231 | |
TOTAL POLAND | 13,128,503 | ||
Qatar - 2.3% | |||
State of Qatar: | |||
3.75% 4/16/30 (b) | 14,315,000 | 13,749,558 | |
4.4% 4/16/50 (b) | 13,395,000 | 11,858,761 | |
4.625% 6/2/46 (b) | 6,030,000 | 5,550,615 | |
4.817% 3/14/49 (b) | 9,275,000 | 8,688,588 | |
5.103% 4/23/48 (b) | 6,810,000 | 6,625,279 | |
9.75% 6/15/30 (b) | 3,415,000 | 4,375,469 | |
TOTAL QATAR | 50,848,270 | ||
Romania - 0.7% | |||
Romanian Republic: | |||
2% 4/14/33 (Reg. S) | EUR | 1,345,000 | 1,115,044 |
3% 2/27/27 (b) | 2,641,000 | 2,466,034 | |
3.375% 1/28/50 (Reg. S) | EUR | 1,830,000 | 1,393,112 |
3.625% 3/27/32 (b) | 5,066,000 | 4,352,011 | |
4% 2/14/51 (b) | 1,510,000 | 1,070,786 | |
6.625% 2/17/28 (b) | 2,280,000 | 2,347,283 | |
7.125% 1/17/33 (b) | 805,000 | 861,602 | |
8% 4/29/30 | RON | 11,145,000 | 2,593,963 |
TOTAL ROMANIA | 16,199,835 | ||
Rwanda - 0.2% | |||
Rwanda Republic 5.5% 8/9/31 (b) | 5,980,000 | 4,856,881 | |
Saudi Arabia - 1.7% | |||
Kingdom of Saudi Arabia: | |||
2.25% 2/2/33 (b) | 7,655,000 | 6,174,236 | |
3.45% 2/2/61 (b) | 11,380,000 | 7,581,925 | |
3.625% 3/4/28 (b) | 3,515,000 | 3,367,809 | |
3.75% 1/21/55 (b) | 5,235,000 | 3,783,923 | |
4.5% 10/26/46 (b) | 6,920,000 | 5,914,438 | |
4.5% 4/22/60 (b) | 2,545,000 | 2,096,444 | |
4.625% 10/4/47 (b) | 3,295,000 | 2,842,967 | |
5% 1/18/53 (b) | 3,780,000 | 3,383,100 | |
5.75% 1/16/54 (b) | 3,160,000 | 3,127,413 | |
TOTAL SAUDI ARABIA | 38,272,255 | ||
Senegal - 0.1% | |||
Republic of Senegal 6.25% 5/23/33 (b) | 3,230,000 | 2,755,594 | |
Serbia - 0.4% | |||
Republic of Serbia: | |||
2.125% 12/1/30 (b) | 8,215,000 | 6,507,820 | |
6.5% 9/26/33 (b) | 2,105,000 | 2,147,758 | |
TOTAL SERBIA | 8,655,578 | ||
South Africa - 0.7% | |||
South African Republic: | |||
4.85% 9/27/27 | 2,890,000 | 2,745,500 | |
4.85% 9/30/29 | 2,510,000 | 2,249,588 | |
5% 10/12/46 | 4,045,000 | 2,716,218 | |
5.65% 9/27/47 | 1,905,000 | 1,383,506 | |
5.75% 9/30/49 | 6,320,000 | 4,589,900 | |
5.875% 4/20/32 | 2,895,000 | 2,609,119 | |
TOTAL SOUTH AFRICA | 16,293,831 | ||
Sri Lanka - 0.3% | |||
Democratic Socialist Republic of Sri Lanka: | |||
6.2% (b)(d) | 2,685,000 | 1,584,150 | |
6.825% (b)(d) | 1,595,000 | 950,509 | |
7.55% (b)(d) | 2,630,000 | 1,543,481 | |
7.85% (b)(d) | 5,665,000 | 3,307,567 | |
TOTAL SRI LANKA | 7,385,707 | ||
Turkey - 4.2% | |||
Export Credit Bank of Turkey 9% 1/28/27 (b) | 2,995,000 | 3,127,379 | |
Turkish Republic: | |||
4.25% 4/14/26 | 8,635,000 | 8,321,981 | |
4.75% 1/26/26 | 10,970,000 | 10,733,459 | |
4.875% 10/9/26 | 4,595,000 | 4,457,150 | |
4.875% 4/16/43 | 8,935,000 | 6,276,838 | |
5.125% 2/17/28 | 5,960,000 | 5,662,000 | |
5.25% 3/13/30 | 2,170,000 | 1,963,172 | |
5.75% 5/11/47 | 4,490,000 | 3,419,416 | |
6% 3/25/27 | 1,900,000 | 1,876,844 | |
6% 1/14/41 | 4,650,000 | 3,831,891 | |
6.125% 10/24/28 | 3,895,000 | 3,808,580 | |
6.625% 2/17/45 | 3,200,000 | 2,751,264 | |
7.625% 5/15/34 | 3,275,000 | 3,287,281 | |
9.125% 7/13/30 | 2,030,000 | 2,202,550 | |
9.375% 3/14/29 | 4,950,000 | 5,387,766 | |
9.375% 1/19/33 | 8,440,000 | 9,389,500 | |
9.875% 1/15/28 | 10,335,000 | 11,384,648 | |
26.2% 10/5/33 | TRY | 86,195,000 | 2,764,036 |
31.08% 11/8/28 | TRY | 75,870,000 | 2,452,302 |
TOTAL TURKEY | 93,098,057 | ||
Ukraine - 0.8% | |||
Ukraine Government: | |||
6.876% 5/21/31 (b) | 1,910,000 | 556,765 | |
7.253% 3/15/35 (b) | 6,695,000 | 1,944,898 | |
7.375% 9/25/34 (b) | 3,310,000 | 964,865 | |
7.75% 9/1/24 (b) | 5,877,000 | 2,203,875 | |
7.75% 9/1/25 (b) | 9,315,000 | 3,469,838 | |
7.75% 9/1/26 (b) | 12,600,000 | 4,504,500 | |
7.75% 9/1/28 (b) | 2,195,000 | 728,740 | |
7.75% 9/1/29 (b) | 1,360,000 | 448,800 | |
7.75% 8/1/41 (b)(c) | 4,080,000 | 2,254,200 | |
TOTAL UKRAINE | 17,076,481 | ||
United Arab Emirates - 1.7% | |||
Abu Dhabi National Energy Co. PJSC 4.375% 1/24/29 (b) | 3,095,000 | 3,021,494 | |
Emirate of Abu Dhabi: | |||
3% 9/15/51 (b) | 4,875,000 | 3,319,570 | |
3.125% 9/30/49 (b) | 22,460,000 | 15,799,206 | |
3.875% 4/16/50 (b) | 7,190,000 | 5,748,405 | |
Emirate of Dubai: | |||
3.9% 9/9/50 (Reg. S) | 7,730,000 | 5,727,447 | |
5.25% 1/30/43 (Reg. S) | 3,380,000 | 3,244,800 | |
TOTAL UNITED ARAB EMIRATES | 36,860,922 | ||
United States of America - 4.7% | |||
U.S. Treasury Bonds: | |||
2.875% 5/15/52 | 45,024,000 | 34,066,955 | |
3.25% 5/15/42 | 14,952,000 | 12,709,784 | |
3.625% 2/15/53 | 30,720,000 | 26,976,000 | |
U.S. Treasury Notes: | |||
2.875% 5/15/32 (h) | 11,298,000 | 10,257,790 | |
3.625% 3/31/30 | 9,786,000 | 9,472,542 | |
3.75% 5/31/30 | 2,079,000 | 2,024,507 | |
4% 2/28/30 | 5,019,000 | 4,958,615 | |
4.625% 9/30/30 | 4,011,000 | 4,098,897 | |
TOTAL UNITED STATES OF AMERICA | 104,565,090 | ||
Uruguay - 0.5% | |||
Uruguay Republic: | |||
5.1% 6/18/50 | 7,730,000 | 7,476,359 | |
5.75% 10/28/34 | 2,995,000 | 3,161,597 | |
TOTAL URUGUAY | 10,637,956 | ||
Uzbekistan - 0.2% | |||
Republic of Uzbekistan: | |||
3.7% 11/25/30 (b) | 1,300,000 | 1,083,875 | |
3.9% 10/19/31 (b) | 3,605,000 | 2,975,252 | |
TOTAL UZBEKISTAN | 4,059,127 | ||
Venezuela - 0.4% | |||
Venezuelan Republic: | |||
9.25% (d) | 32,390,000 | 5,745,982 | |
11.95% (Reg. S) (d) | 14,080,000 | 2,333,828 | |
12.75% (d) | 2,705,000 | 454,506 | |
TOTAL VENEZUELA | 8,534,316 | ||
Vietnam - 0.6% | |||
Vietnamese Socialist Republic 5.5% 3/12/28 | 14,737,717 | 14,062,140 | |
Zambia - 0.1% | |||
Republic of Zambia 8.97% (b)(d) | 1,550,000 | 1,137,313 | |
TOTAL GOVERNMENT OBLIGATIONS (Cost $1,237,960,716) | 1,118,596,075 | ||
Common Stocks - 0.0% | |||
Shares | Value ($) | ||
Jamaica - 0.0% | |||
Digicel Group Ltd. (f) | 69,594 | 62,402 | |
Kazakhstan - 0.0% | |||
Nostrum Oil & Gas LP warrants (e)(f) | 521,171 | 5 | |
TOTAL COMMON STOCKS (Cost $62,402) | 62,407 | ||
Preferred Securities - 3.2% | |||
Principal Amount (a) | Value ($) | ||
Brazil - 0.5% | |||
Banco Do Brasil SA 6.25% (b)(c)(i) | 6,305,000 | 6,302,541 | |
Cosan Overseas Ltd. 8.25% (i) | 4,526,000 | 4,609,448 | |
TOTAL BRAZIL | 10,911,989 | ||
Chile - 0.1% | |||
Banco de Credito e Inversiones 8.75% (b)(c)(i) | 2,900,000 | 2,982,056 | |
Georgia - 0.1% | |||
Georgia Bank Joint Stock Co. 11.125% (Reg. S) (c)(i) | 1,300,000 | 1,311,050 | |
Hong Kong - 0.3% | |||
CAS Capital No 1 Ltd. 4% (Reg. S) (c)(i) | 6,970,000 | 6,364,307 | |
India - 0.4% | |||
Network i2i Ltd.: | |||
3.975% (b)(c)(i) | 2,640,000 | 2,505,525 | |
5.65% (b)(c)(i) | 6,338,000 | 6,280,562 | |
TOTAL INDIA | 8,786,087 | ||
Kuwait - 0.1% | |||
NBK Tier 1 Ltd. 3.625% (b)(c)(i) | 2,595,000 | 2,392,266 | |
Mexico - 1.4% | |||
Banco Mercantil del Norte SA: | |||
6.75% (b)(c)(i) | 3,645,000 | 3,621,080 | |
7.625% (b)(c)(i) | 7,560,000 | 7,512,750 | |
BBVA Bancomer SA Texas Branch: | |||
5.125% 1/18/33 (b)(c) | 2,725,000 | 2,523,180 | |
5.35% 11/12/29 (b)(c) | 2,030,000 | 1,996,485 | |
8.45% 6/29/38 (b)(c) | 3,050,000 | 3,220,760 | |
CEMEX S.A.B. de CV: | |||
5.125% (b)(c)(i) | 9,220,000 | 8,903,063 | |
9.125% (b)(c)(i) | 3,765,000 | 4,062,812 | |
TOTAL MEXICO | 31,840,130 | ||
Russia - 0.0% | |||
Alfa Bond Issuance PLC 6.95% (Reg. S) (c)(d)(e)(f)(i) | 982,000 | 49,100 | |
Tinkoff Bank JSC 6% (b)(c)(d)(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) | 6,250,000 | 6,238,281 | |
TOTAL PREFERRED SECURITIES (Cost $75,173,816) | 71,023,266 | ||
Money Market Funds - 1.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (j) (Cost $23,679,316) | 23,675,073 | 23,679,808 | |
TOTAL INVESTMENT IN SECURITIES - 96.2% (Cost $2,378,779,917) | 2,148,277,951 |
NET OTHER ASSETS (LIABILITIES) - 3.8% | 84,658,182 |
NET ASSETS - 100.0% | 2,232,936,133 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Treasury Contracts | |||||
CBOT 10-Year U.S. Treasury Note Contracts (United States) | 44 | Jun 2024 | 4,875,063 | 33,278 | 33,278 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
Currency Abbreviations
EGP | - | Egyptian pound |
EUR | - | European Monetary Unit |
KES | - | Kenyan shilling |
NGN | - | Nigerian naira |
RON | - | Romanian leu (new) |
TRY | - | Turkish Lira |
Legend
(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 $1,391,943,878 or 62.3% of net assets. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(d) | Non-income producing - Security is in default. |
(e) | Non-income producing |
(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 $114,824. |
(i) | Security is perpetual in nature with no stated maturity date. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | 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 5.39% | 36,533,365 | 129,494,268 | 142,347,825 | 362,007 | - | - | 23,679,808 | 0.0% |
Total | 36,533,365 | 129,494,268 | 142,347,825 | 362,007 | - | - | 23,679,808 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Directors (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Nonconvertible Bonds, Government Obligations and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. For foreign debt securities, when significant market or security specific events arise, valuations may be determined in good faith in accordance with procedures adopted by the Board. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
The Fund invests a significant portion of its assets in below investment grade securities. The value of these securities can be more volatile due to changes in the credit quality of the issuer and is sensitive to changes in economic, market and regulatory conditions.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
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.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the bond market and fluctuations in interest rates.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
Credit Risk
The Fund's relatively large investment in countries with limited or developing capital markets may involve greater risks than investments in more developed markets and the prices of such investments may be volatile. The yields of emerging market debt obligations reflect, among other things, perceived credit risk. The consequences of political, social or economic changes in these markets may have disruptive effects on the market prices of the Fund's investments and the income they generate, as well as the Fund's ability to repatriate such amounts.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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