American Century Investments®
Quarterly Portfolio Holdings
Emerging Markets Debt Fund
July 31, 2023
| | |
| Emerging Markets Debt Fund - Schedule of Investments |
| JULY 31, 2023 (UNAUDITED) |
| | | | | | | | | | | |
| | Principal Amount ($)/Shares | Value ($) |
| SOVEREIGN GOVERNMENTS AND AGENCIES — 62.4% | | | |
| Angola — 0.7% | | | |
Angolan Government International Bond, 8.25%, 5/9/28(1) | | 2,900,000 | | 2,678,513 | |
Angolan Government International Bond, 9.375%, 5/8/48(1) | | 2,000,000 | | 1,661,900 | |
| | | 4,340,413 | |
| Argentina — 0.7% | | | |
| Argentine Republic Government International Bond, 3.625%, 7/9/35 | | 14,400,000 | | 4,501,499 | |
| Azerbaijan — 0.2% | | | |
| Republic of Azerbaijan International Bond, 3.50%, 9/1/32 | | 1,400,000 | | 1,202,306 | |
| Bahamas — 0.3% | | | |
Bahamas Government International Bond, 5.75%, 1/16/24(1) | | 2,000,000 | | 1,977,500 | |
| Bahrain — 0.3% | | | |
| Bahrain Government International Bond, 7.50%, 9/20/47 | | 2,000,000 | | 1,900,000 | |
| Bolivia — 0.6% | | | |
| Bolivian Government International Bond, 5.95%, 8/22/23 | | 3,783,000 | | 3,745,170 | |
| Brazil — 1.2% | | | |
| Brazilian Government International Bond, 4.25%, 1/7/25 | | 2,471,000 | | 2,427,052 | |
| Brazilian Government International Bond, 6.00%, 10/20/33 | | 3,800,000 | | 3,773,882 | |
| Brazilian Government International Bond, 4.75%, 1/14/50 | | 2,000,000 | | 1,538,245 | |
| | | 7,739,179 | |
| Cameroon — 0.4% | | | |
| Republic of Cameroon International Bond, 9.50%, 11/19/25 | | 2,600,000 | | 2,540,127 | |
| Chile — 2.3% | | | |
Bonos de la Tesoreria de la Republica en pesos, 4.70%, 9/1/30(1) | CLP | 6,080,000,000 | | 7,152,621 | |
| Chile Government International Bond, 2.75%, 1/31/27 | | 4,000,000 | | 3,721,908 | |
| Chile Government International Bond, 2.55%, 7/27/33 | | 1,200,000 | | 978,434 | |
| Chile Government International Bond, 3.50%, 1/31/34 | | 2,000,000 | | 1,757,804 | |
| Chile Government International Bond, 4.95%, 1/5/36 | | 2,000,000 | | 1,970,220 | |
| | | 15,580,987 | |
| Colombia — 3.0% | | | |
| Colombia Government International Bond, 4.50%, 1/28/26 | | 1,525,000 | | 1,470,988 | |
| Colombia Government International Bond, 3.125%, 4/15/31 | | 500,000 | | 392,183 | |
| Colombia Government International Bond, 7.375%, 9/18/37 | | 2,000,000 | | 1,982,256 | |
| Colombia Government International Bond, 6.125%, 1/18/41 | | 5,300,000 | | 4,524,460 | |
| Colombian TES, 7.00%, 6/30/32 | COP | 55,000,000,000 | | 11,540,156 | |
| | | 19,910,043 | |
| Costa Rica — 0.1% | | | |
Costa Rica Government International Bond, 6.55%, 4/3/34(1) | | 1,000,000 | | 1,015,000 | |
| Czech Republic — 4.4% | | | |
| Czech Republic Government Bond, 0.25%, 2/10/27 | CZK | 624,410,000 | | 24,819,674 | |
| Czech Republic Government Bond, 2.00%, 10/13/33 | CZK | 120,000,000 | | 4,598,889 | |
| | | 29,418,563 | |
| Dominican Republic — 1.3% | | | |
| Dominican Republic International Bond, 5.95%, 1/25/27 | | 5,000,000 | | 4,949,137 | |
Dominican Republic International Bond, 4.50%, 1/30/30(1) | | 1,000,000 | | 888,847 | |
| Dominican Republic International Bond, 4.875%, 9/23/32 | | 1,900,000 | | 1,652,666 | |
| Dominican Republic International Bond, 5.30%, 1/21/41 | | 1,400,000 | | 1,135,777 | |
| | | 8,626,427 | |
| Ecuador — 0.5% | | | |
Ecuador Government International Bond, 0.00%, 7/31/30(1)(2) | | 6,000,000 | | 1,740,480 | |
| Ecuador Government International Bond, 6.00%, 7/31/30 | | 2,000,000 | | 958,166 | |
| | | | | | | | | | | |
Ecuador Government International Bond, 3.50%, 7/31/35(1) | | 2,000,000 | | 697,505 | |
| | | 3,396,151 | |
| Egypt — 0.8% | | | |
Egypt Government International Bond, 7.50%, 1/31/27(1) | | 5,000,000 | | 3,969,700 | |
Egypt Government International Bond, 7.625%, 5/29/32(1) | | 950,000 | | 617,804 | |
Egypt Government International Bond, 8.50%, 1/31/47(1) | | 1,800,000 | | 1,055,772 | |
| | | 5,643,276 | |
| El Salvador — 0.2% | | | |
| El Salvador Government International Bond, 7.65%, 6/15/35 | | 825,000 | | 540,657 | |
| El Salvador Government International Bond, 7.12%, 1/20/50 | | 1,000,000 | | 615,650 | |
| | | 1,156,307 | |
| Ghana — 0.5% | | | |
Ghana Government International Bond, 8.125%, 1/18/26(3)(4) | | 3,200,000 | | 1,529,530 | |
Ghana Government International Bond, 8.125%, 3/26/32(1)(3)(4) | | 3,500,000 | | 1,612,572 | |
| | | 3,142,102 | |
| Guatemala — 0.5% | | | |
Guatemala Government Bond, 5.25%, 8/10/29(1) | | 300,000 | | 287,253 | |
Guatemala Government International Bond, 4.375%, 6/5/27(1) | | 1,900,000 | | 1,797,546 | |
Guatemala Government International Bond, 4.65%, 10/7/41(1) | | 1,375,000 | | 1,116,034 | |
| | | 3,200,833 | |
| Hungary — 1.7% | | | |
| Hungary Government Bond, 4.50%, 3/23/28 | HUF | 3,802,270,000 | | 9,527,782 | |
Hungary Government International Bond, 2.125%, 9/22/31(1) | | 2,000,000 | | 1,566,106 | |
| | | 11,093,888 | |
| Indonesia — 6.0% | | | |
| Indonesia Government International Bond, 4.10%, 4/24/28 | | 3,800,000 | | 3,667,473 | |
| Indonesia Government International Bond, 4.65%, 9/20/32 | | 1,700,000 | | 1,678,467 | |
| Indonesia Government International Bond, 4.75%, 7/18/47 | | 780,000 | | 741,282 | |
| Indonesia Treasury Bond, 6.50%, 2/15/31 | IDR | 339,085,000,000 | | 22,652,253 | |
| Indonesia Treasury Bond, 8.375%, 4/15/39 | IDR | 128,000,000,000 | | 9,978,143 | |
Perusahaan Penerbit SBSN Indonesia III, 4.70%, 6/6/32(1) | | 1,500,000 | | 1,491,520 | |
| | | 40,209,138 | |
| Iraq — 0.1% | | | |
| Iraq International Bond, 5.80%, 1/15/28 | | 450,000 | | 418,799 | |
| Ivory Coast — 0.2% | | | |
| Ivory Coast Government International Bond, 6.125%, 6/15/33 | | 1,200,000 | | 1,081,802 | |
| Jordan — 0.6% | | | |
Jordan Government International Bond, 7.50%, 1/13/29(1) | | 3,350,000 | | 3,417,114 | |
Jordan Government International Bond, 7.375%, 10/10/47(1) | | 860,000 | | 767,786 | |
| | | 4,184,900 | |
| Kenya — 0.5% | | | |
Republic of Kenya Government International Bond, 6.875%, 6/24/24(1) | | 2,440,000 | | 2,335,756 | |
Republic of Kenya Government International Bond, 8.25%, 2/28/48(1) | | 1,000,000 | | 786,764 | |
| | | 3,122,520 | |
| Malaysia — 3.0% | | | |
| Malaysia Government Bond, 3.80%, 8/17/23 | MYR | 35,000,000 | | 7,753,292 | |
| Malaysia Government Bond, 4.70%, 10/15/42 | MYR | 7,500,000 | | 1,789,523 | |
| Malaysia Government Bond, 4.07%, 6/15/50 | MYR | 49,500,000 | | 10,651,050 | |
| | | 20,193,865 | |
| Mexico — 7.5% | | | |
| Mexican Bonos, 5.50%, 3/4/27 | MXN | 262,400,000 | | 13,820,778 | |
| Mexican Bonos, 7.75%, 5/29/31 | MXN | 252,300,000 | | 14,154,264 | |
| Mexican Bonos, 10.00%, 11/20/36 | MXN | 192,600,000 | | 12,599,341 | |
Mexico Cetes, 0.00%, 8/10/23(2) | MXN | 1,150,000,000 | | 6,848,140 | |
| | | | | | | | | | | |
| Mexico Government International Bond, 2.66%, 5/24/31 | | 1,400,000 | | 1,167,375 | |
| Mexico Government International Bond, 3.50%, 2/12/34 | | 1,000,000 | | 842,011 | |
| Mexico Government International Bond, 6.35%, 2/9/35 | | 205,000 | | 215,675 | |
| | | 49,647,584 | |
| Morocco — 0.4% | | | |
| Morocco Government International Bond, 3.00%, 12/15/32 | | 1,500,000 | | 1,209,967 | |
Morocco Government International Bond, 3.00%, 12/15/32(1) | | 100,000 | | 80,653 | |
Morocco Government International Bond, 4.00%, 12/15/50(1) | | 1,800,000 | | 1,241,071 | |
| | | 2,531,691 | |
| Nigeria — 1.4% | | | |
| Nigeria Government International Bond, 6.50%, 11/28/27 | | 3,500,000 | | 3,136,770 | |
Nigeria Government International Bond, 6.50%, 11/28/27(1) | | 2,000,000 | | 1,792,440 | |
Nigeria Government International Bond, 7.375%, 9/28/33(1) | | 2,800,000 | | 2,325,050 | |
Nigeria Government International Bond, 7.625%, 11/28/47(1) | | 2,400,000 | | 1,802,568 | |
| | | 9,056,828 | |
| Oman — 0.5% | | | |
| Oman Government International Bond, 6.00%, 8/1/29 | | 2,600,000 | | 2,632,362 | |
Oman Government International Bond, 6.75%, 1/17/48(1) | | 1,000,000 | | 992,630 | |
| | | 3,624,992 | |
| Pakistan — 0.3% | | | |
Pakistan Government International Bond, 7.375%, 4/8/31(1) | | 2,000,000 | | 995,000 | |
Pakistan Government International Bond, 8.875%, 4/8/51(1) | | 1,750,000 | | 818,563 | |
| | | 1,813,563 | |
| Panama — 1.0% | | | |
| Panama Government International Bond, 6.40%, 2/14/35 | | 950,000 | | 995,187 | |
| Panama Government International Bond, 4.50%, 4/16/50 | | 5,700,000 | | 4,436,432 | |
| Panama Government International Bond, 6.85%, 3/28/54 | | 1,000,000 | | 1,049,262 | |
| | | 6,480,881 | |
| Paraguay — 0.8% | | | |
Paraguay Government International Bond, 3.85%, 6/28/33(1) | | 2,900,000 | | 2,540,407 | |
Paraguay Government International Bond, 5.85%, 8/21/33(1) | | 950,000 | | 954,029 | |
| Paraguay Government International Bond, 5.40%, 3/30/50 | | 1,900,000 | | 1,647,344 | |
| | | 5,141,780 | |
| Peru — 3.7% | | | |
| Peru Government Bond, 5.40%, 8/12/34 | PEN | 26,000,000 | | 6,470,243 | |
| Peruvian Government International Bond, 2.39%, 1/23/26 | | 2,100,000 | | 1,959,686 | |
| Peruvian Government International Bond, 2.78%, 1/23/31 | | 2,300,000 | | 1,958,653 | |
| Peruvian Government International Bond, 8.75%, 11/21/33 | | 2,500,000 | | 3,148,603 | |
| Peruvian Government International Bond, 3.00%, 1/15/34 | | 4,500,000 | | 3,708,564 | |
| Peruvian Government International Bond, 6.90%, 8/12/37 | PEN | 23,000,000 | | 6,430,110 | |
| Peruvian Government International Bond, 3.55%, 3/10/51 | | 1,000,000 | | 743,480 | |
| | | 24,419,339 | |
| Philippines — 1.1% | | | |
| Philippine Government International Bond, 6.375%, 1/15/32 | | 1,800,000 | | 1,991,241 | |
| Philippine Government International Bond, 5.95%, 10/13/47 | | 4,001,000 | | 4,378,881 | |
| Philippine Government International Bond, 5.50%, 1/17/48 | | 733,000 | | 764,004 | |
| | | 7,134,126 | |
| Poland — 3.0% | | | |
Bank Gospodarstwa Krajowego, 5.375%, 5/22/33(1) | | 2,416,000 | | 2,416,833 | |
| Republic of Poland Government Bond, 2.50%, 7/25/27 | PLN | 49,000,000 | | 11,043,773 | |
| Republic of Poland Government Bond, 1.75%, 4/25/32 | PLN | 30,000,000 | | 5,632,045 | |
| Republic of Poland Government International Bond, 5.75%, 11/16/32 | | 850,000 | | 899,036 | |
| | | 19,991,687 | |
| | | |
| | | | | | | | | | | |
| Romania — 1.8% | | | |
| Romania Government Bond, 8.25%, 9/29/32 | RON | 24,000,000 | | 5,992,512 | |
Romanian Government International Bond, 6.625%, 2/17/28(1) | | 2,000,000 | | 2,077,406 | |
Romanian Government International Bond, 7.125%, 1/17/33(1) | | 1,000,000 | | 1,077,338 | |
Romanian Government International Bond, 6.00%, 5/25/34(1) | | 1,500,000 | | 1,505,160 | |
Romanian Government International Bond, 7.625%, 1/17/53(1) | | 1,326,000 | | 1,501,828 | |
| | | 12,154,244 | |
| Saudi Arabia — 0.8% | | | |
Saudi Government International Bond, 4.75%, 1/18/28(1) | | 1,035,000 | | 1,029,304 | |
Saudi Government International Bond, 5.50%, 10/25/32(1) | | 2,810,000 | | 2,956,075 | |
Saudi Government International Bond, 4.625%, 10/4/47(1) | | 1,400,000 | | 1,230,523 | |
| | | 5,215,902 | |
| Senegal — 0.3% | | | |
Senegal Government International Bond, 6.25%, 5/23/33(1) | | 2,540,000 | | 2,195,398 | |
| Serbia — 0.2% | | | |
Serbia International Bond, 6.50%, 9/26/33(1) | | 1,460,000 | | 1,467,125 | |
| South Africa — 4.7% | | | |
| Republic of South Africa Government Bond, 8.50%, 1/31/37 | ZAR | 587,410,000 | | 25,501,650 | |
| Republic of South Africa Government International Bond, 4.30%, 10/12/28 | | 1,425,000 | | 1,291,976 | |
| Republic of South Africa Government International Bond, 5.75%, 9/30/49 | | 6,000,000 | | 4,510,044 | |
| | | 31,303,670 | |
| Sri Lanka — 0.1% | | | |
Sri Lanka Government International Bond, 6.75%, 4/18/28(1)(3)(4) | | 2,000,000 | | 906,788 | |
| Thailand — 2.6% | | | |
| Thailand Government Bond, 1.59%, 12/17/35 | THB | 678,800,000 | | 17,541,901 | |
| Turkey — 1.3% | | | |
| Turkey Government International Bond, 5.60%, 11/14/24 | | 1,600,000 | | 1,580,208 | |
| Turkey Government International Bond, 4.875%, 10/9/26 | | 2,000,000 | | 1,849,650 | |
| Turkey Government International Bond, 9.875%, 1/15/28 | | 1,025,000 | | 1,092,470 | |
| Turkey Government International Bond, 5.125%, 2/17/28 | | 1,000,000 | | 910,851 | |
| Turkey Government International Bond, 6.875%, 3/17/36 | | 3,500,000 | | 3,148,722 | |
| | | 8,581,901 | |
| Ukraine — 0.2% | | | |
Ukraine Government International Bond, 7.25%, 3/15/35(3)(4) | | 4,400,000 | | 1,330,450 | |
Ukraine Government International Bond, 7.25%, 3/15/35(1)(3)(4) | | 750,000 | | 226,781 | |
| | | 1,557,231 | |
| United Arab Emirates — 0.5% | | | |
UAE International Government Bond, 4.95%, 7/7/52(1) | | 3,300,000 | | 3,277,910 | |
| Uzbekistan — 0.1% | | | |
| Republic of Uzbekistan International Bond, 4.75%, 2/20/24 | | 1,000,000 | | 992,583 | |
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $406,302,892) | | | 414,377,919 | |
| CORPORATE BONDS — 23.8% | | | |
| Brazil — 3.2% | | | |
| Banco Bradesco SA, 3.20%, 1/27/25 | | 2,000,000 | | 1,916,500 | |
| Banco do Brasil SA, 4.75%, 3/20/24 | | 2,500,000 | | 2,475,357 | |
| Banco Votorantim SA, 4.375%, 7/29/25 | | 2,000,000 | | 1,925,471 | |
Embraer Netherlands Finance BV, 6.95%, 1/17/28(1) | | 2,525,000 | | 2,563,973 | |
Embraer Netherlands Finance BV, 7.00%, 7/28/30(1) | | 3,475,000 | | 3,515,310 | |
Guara Norte Sarl, 5.20%, 6/15/34(1) | | 4,996,069 | | 4,462,739 | |
| | | | | | | | | | | |
| Minerva Luxembourg SA, 4.375%, 3/18/31 | | 3,000,000 | | 2,451,000 | |
| Petrobras Global Finance BV, 6.50%, 7/3/33 | | 2,100,000 | | 2,065,730 | |
| | | 21,376,080 | |
| Burkina Faso — 0.1% | | | |
| Endeavour Mining PLC, 5.00%, 10/14/26 | | 1,000,000 | | 909,910 | |
| Chile — 1.0% | | | |
Empresa Nacional del Petroleo, 6.15%, 5/10/33(1) | | 3,800,000 | | 3,839,615 | |
Kenbourne Invest SA, 4.70%, 1/22/28(1) | | 1,599,000 | | 1,151,433 | |
VTR Finance NV, 6.375%, 7/15/28(1) | | 4,000,000 | | 1,715,646 | |
| | | 6,706,694 | |
| China — 0.2% | | | |
| Alibaba Group Holding Ltd., 4.20%, 12/6/47 | | 450,000 | | 351,929 | |
| Tencent Holdings Ltd., 3.24%, 6/3/50 | | 1,300,000 | | 840,693 | |
| | | 1,192,622 | |
| Colombia — 2.6% | | | |
| Canacol Energy Ltd., 5.75%, 11/24/28 | | 1,300,000 | | 1,140,285 | |
| Ecopetrol SA, 5.875%, 9/18/23 | | 2,235,000 | | 2,232,428 | |
| Ecopetrol SA, 6.875%, 4/29/30 | | 3,900,000 | | 3,677,881 | |
| Ecopetrol SA, 4.625%, 11/2/31 | | 1,060,000 | | 845,033 | |
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, 5.375%, 12/30/30(1) | | 6,760,000 | | 4,476,878 | |
Geopark Ltd., 5.50%, 1/17/27(1) | | 3,918,000 | | 3,370,505 | |
Millicom International Cellular SA, 4.50%, 4/27/31(1) | | 2,200,000 | | 1,752,586 | |
| | | 17,495,596 | |
| Guatemala — 0.3% | | | |
Central American Bottling Corp. / CBC Bottling Holdco SL / Beliv Holdco SL, 5.25%, 4/27/29(1) | | 2,000,000 | | 1,846,842 | |
| India — 0.5% | | | |
| Greenko Dutch BV, 3.85%, 3/29/26 | | 2,068,000 | | 1,887,050 | |
Reliance Industries Ltd., 2.875%, 1/12/32(1)(5) | | 1,750,000 | | 1,454,531 | |
| | | 3,341,581 | |
| Indonesia — 1.3% | | | |
Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT, 5.45%, 5/15/30(1) | | 1,000,000 | | 979,230 | |
Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT, 5.80%, 5/15/50(1) | | 2,150,000 | | 1,939,364 | |
Medco Bell Pte. Ltd., 6.375%, 1/30/27(1) | | 1,668,000 | | 1,569,593 | |
| Pertamina (Persero) PT, 6.50%, 5/27/41 | | 2,300,000 | | 2,399,210 | |
| Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, 3.00%, 6/30/30 | | 2,000,000 | | 1,709,069 | |
| | | 8,596,466 | |
| Israel — 0.8% | | | |
| Bank Hapoalim BM, VRN, 3.26%, 1/21/32 | | 1,000,000 | | 860,210 | |
| Energean Israel Finance Ltd., 4.50%, 3/30/24 | | 2,026,000 | | 2,006,196 | |
| Energian Israel Finance Ltd., 8.50%, 9/30/33 | | 2,460,000 | | 2,464,633 | |
| | | 5,331,039 | |
| Kazakhstan — 0.3% | | | |
| KazMunayGas National Co. JSC, 4.75%, 4/19/27 | | 500,000 | | 478,597 | |
| KazMunayGas National Co. JSC, 5.75%, 4/19/47 | | 1,500,000 | | 1,265,730 | |
| | | 1,744,327 | |
| Luxembourg — 0.9% | | | |
EIG Pearl Holdings Sarl, 3.55%, 8/31/36(1) | | 4,500,000 | | 3,819,672 | |
Petrorio Luxembourg Trading Sarl, 6.125%, 6/9/26(1) | | 2,500,000 | | 2,442,544 | |
| | | 6,262,216 | |
| Malaysia — 0.3% | | | |
| Petronas Capital Ltd., 4.55%, 4/21/50 | | 2,375,000 | | 2,161,821 | |
| Mexico — 4.6% | | | |
| Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, 5.375%, 4/17/25 | | 1,000,000 | | 991,215 | |
BBVA Bancomer SA, 4.375%, 4/10/24(1) | | 1,000,000 | | 991,317 | |
BBVA Bancomer SA, VRN, 5.125%, 1/18/33(1) | | 2,000,000 | | 1,741,500 | |
| | | | | | | | | | | |
| Becle SAB de CV, 2.50%, 10/14/31 | | 800,000 | | 633,817 | |
Cometa Energia SA de CV, 6.375%, 4/24/35(1) | | 2,668,250 | | 2,591,042 | |
| Comision Federal de Electricidad, 3.35%, 2/9/31 | | 2,000,000 | | 1,604,969 | |
Industrias Penoles SAB de CV, 4.75%, 8/6/50(1) | | 1,750,000 | | 1,412,964 | |
Infraestructura Energetica Nova SAPI de CV, 4.75%, 1/15/51(1) | | 4,300,000 | | 3,324,975 | |
Minera Mexico SA de CV, 4.50%, 1/26/50(1) | | 1,693,000 | | 1,347,145 | |
| Orbia Advance Corp. SAB de CV, 2.875%, 5/11/31 | | 2,000,000 | | 1,591,149 | |
| Petroleos Mexicanos, 4.875%, 1/18/24 | | 1,200,000 | | 1,187,504 | |
| Petroleos Mexicanos, 5.35%, 2/12/28 | | 2,000,000 | | 1,642,837 | |
| Petroleos Mexicanos, 5.95%, 1/28/31 | | 7,100,000 | | 5,277,815 | |
Petroleos Mexicanos, 10.00%, 2/7/33(1) | | 3,690,000 | | 3,439,697 | |
Tierra Mojada Luxembourg II Sarl, 5.75%, 12/1/40(1) | | 2,884,478 | | 2,558,965 | |
| | | 30,336,911 | |
| Nigeria — 0.3% | | | |
IHS Netherlands Holdco BV, 8.00%, 9/18/27(1) | | 2,300,000 | | 2,105,006 | |
| Panama — 0.4% | | | |
C&W Senior Financing DAC, 6.875%, 9/15/27(1) | | 3,095,000 | | 2,812,922 | |
| Paraguay — 0.3% | | | |
Bioceanico Sovereign Certificate Ltd., 0.00%, 6/5/34(2) | | 921,713 | | 646,987 | |
Rutas 2 & 7 Finance Ltd., 0.00%, 9/30/36(2) | | 1,800,000 | | 1,172,385 | |
| | | 1,819,372 | |
| Peru — 0.6% | | | |
| Credicorp Ltd., 2.75%, 6/17/25 | | 1,800,000 | | 1,706,632 | |
| Inkia Energy Ltd., 5.875%, 11/9/27 | | 1,122,000 | | 1,075,157 | |
Petroleos del Peru SA, 5.625%, 6/19/47(1) | | 1,900,000 | | 1,274,634 | |
| | | 4,056,423 | |
| Qatar — 0.6% | | | |
| Ooredoo International Finance Ltd., 5.00%, 10/19/25 | | 300,000 | | 298,702 | |
Ooredoo International Finance Ltd., 2.625%, 4/8/31(1) | | 400,000 | | 346,578 | |
Ooredoo International Finance Ltd., 4.50%, 1/31/43(1) | | 1,900,000 | | 1,810,643 | |
| Ras Laffan Liquefied Natural Gas Co. Ltd. 3, 6.33%, 9/30/27 | | 1,469,000 | | 1,482,464 | |
| | | 3,938,387 | |
| Saudi Arabia — 2.4% | | | |
| Dar Al-Arkan Sukuk Co. Ltd., 6.875%, 2/26/27 | | 1,000,000 | | 973,705 | |
SA Global Sukuk Ltd., 2.69%, 6/17/31(1) | | 1,290,000 | | 1,115,162 | |
| SABIC Capital II BV, 4.00%, 10/10/23 | | 6,041,000 | | 6,019,168 | |
| Saudi Arabian Oil Co., 3.25%, 11/24/50 | | 8,000,000 | | 5,621,552 | |
TMS Issuer Sarl, 5.78%, 8/23/32(1) | | 2,000,000 | | 2,050,000 | |
| | | 15,779,587 | |
| South Africa — 1.5% | | | |
Eskom Holdings SOC Ltd., 6.75%, 8/6/23(1) | | 4,000,000 | | 3,996,832 | |
Eskom Holdings SOC Ltd., 7.125%, 2/11/25(1) | | 1,900,000 | | 1,891,532 | |
Eskom Holdings SOC Ltd., 6.35%, 8/10/28(1) | | 4,100,000 | | 3,929,686 | |
| Prosus NV, 4.19%, 1/19/32 | | 520,000 | | 440,359 | |
| | | 10,258,409 | |
| United Arab Emirates — 0.4% | | | |
Abu Dhabi National Energy Co. PJSC, 4.375%, 1/24/29(1) | | 905,000 | | 888,683 | |
| DP World Crescent Ltd., 4.85%, 9/26/28 | | 800,000 | | 792,006 | |
Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40(1) | | 1,092,328 | | 884,294 | |
| | | 2,564,983 | |
| United States — 1.0% | | | |
DAE Funding LLC, 3.375%, 3/20/28(1) | | 3,000,000 | | 2,701,980 | |
SierraCol Energy Andina LLC, 6.00%, 6/15/28(1) | | 5,000,000 | | 3,948,074 | |
| | | 6,650,054 | |
| | | |
| | | | | | | | | | | |
| Zambia — 0.2% | | | |
First Quantum Minerals Ltd., 8.625%, 6/1/31(1) | | 1,000,000 | | 1,025,000 | |
TOTAL CORPORATE BONDS (Cost $173,393,193) | | | 158,312,248 | |
| U.S. TREASURY SECURITIES — 2.1% | | | |
| U.S. Treasury Bonds, 2.00%, 8/15/51 | | 2,000,000 | | 1,322,851 | |
U.S. Treasury Notes, 2.875%, 8/15/28(6) | | 3,885,000 | | 3,656,225 | |
U.S. Treasury Notes, 1.25%, 8/15/31(6) | | 3,000,000 | | 2,444,180 | |
U.S. Treasury Notes, 1.875%, 2/15/32(6) | | 6,700,000 | | 5,691,336 | |
| U.S. Treasury Notes, 3.375%, 5/15/33 | | 1,109,000 | | 1,057,969 | |
TOTAL U.S. TREASURY SECURITIES (Cost $17,063,486) | | | 14,172,561 | |
| PREFERRED STOCKS — 0.1% | | | |
| Mexico — 0.1% | | | |
Banco Mercantil del Norte SA, 8.375%(1)
(Cost $600,000) | | 600,000 | | 588,636 | |
| SHORT-TERM INVESTMENTS — 10.7% | | | |
| Money Market Funds — 0.2% | | | |
State Street Navigator Securities Lending Government Money Market Portfolio(7) | | 1,487,500 | | 1,487,500 | |
| Repurchase Agreements — 9.7% | | | |
| BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 1.875% - 4.50%, 8/15/39 - 2/15/51, valued at $11,891,732), in a joint trading account at 5.27%, dated 7/31/23, due 8/1/23 (Delivery value $11,639,541) | | | 11,637,837 | |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.125%, 1/15/33, valued at $53,984,546), at 5.28%, dated 7/31/23, due 8/1/23 (Delivery value $52,933,762) | | | 52,926,000 | |
| | | 64,563,837 | |
Treasury Bills(8) — 0.8% | | | |
| U.S. Treasury Bills, 5.09%, 8/24/23 | | 5,000,000 | | 4,983,199 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $71,035,700) | | | 71,034,536 | |
TOTAL INVESTMENT SECURITIES — 99.1% (Cost $668,395,271) | | | 658,485,900 | |
| OTHER ASSETS AND LIABILITIES — 0.9% | | | 5,959,817 | |
| TOTAL NET ASSETS — 100.0% | | | $ | 664,445,717 | |
| | | | | | | | | | | | | | | | | | | | |
| FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS |
| Currency Purchased | Currency Sold | Counterparty | Settlement
Date | Unrealized
Appreciation
(Depreciation) |
| BRL | 157,675,176 | | USD | 31,560,915 | | Goldman Sachs & Co. | 9/15/23 | $ | 1,533,209 | |
| BRL | 15,716,846 | | USD | 3,188,519 | | Goldman Sachs & Co. | 9/15/23 | 110,258 | |
| BRL | 30,863,192 | | USD | 6,325,462 | | Goldman Sachs & Co. | 9/15/23 | 152,351 | |
| BRL | 32,299,313 | | USD | 6,586,320 | | Goldman Sachs & Co. | 9/15/23 | 192,918 | |
| BRL | 32,187,700 | | USD | 6,627,074 | | Goldman Sachs & Co. | 9/15/23 | 128,737 | |
| BRL | 31,808,376 | | USD | 6,538,879 | | Goldman Sachs & Co. | 9/15/23 | 137,317 | |
| BRL | 33,027,143 | | USD | 6,862,070 | | Goldman Sachs & Co. | 9/15/23 | 69,930 | |
| BRL | 31,355,084 | | USD | 6,593,436 | | Goldman Sachs & Co. | 9/15/23 | (12,381) | |
| USD | 7,074,687 | | BRL | 33,877,138 | | Bank of America N.A. | 9/15/23 | (35,717) | |
| USD | 3,238,467 | | BRL | 15,739,595 | | Goldman Sachs & Co. | 9/15/23 | (65,085) | |
| USD | 3,550,624 | | BRL | 17,305,384 | | Goldman Sachs & Co. | 9/15/23 | (81,569) | |
| USD | 5,927,569 | | BRL | 29,347,393 | | Goldman Sachs & Co. | 9/15/23 | (232,096) | |
| USD | 9,554,271 | | BRL | 47,307,972 | | Goldman Sachs & Co. | 9/15/23 | (375,104) | |
| USD | 6,822,082 | | BRL | 33,240,593 | | Goldman Sachs & Co. | 9/15/23 | (154,719) | |
| CLP | 5,311,351,790 | | USD | 6,522,999 | | Bank of America N.A. | 9/15/23 | (221,692) | |
| CLP | 5,467,717,942 | | USD | 6,594,763 | | Bank of America N.A. | 9/15/23 | (107,946) | |
| CLP | 5,061,160,941 | | USD | 6,231,038 | | Morgan Stanley | 9/15/23 | (226,554) | |
| CLP | 5,163,030,249 | | USD | 6,439,299 | | Morgan Stanley | 9/15/23 | (313,959) | |
| | | | | | | | | | | | | | | | | | | | |
| CLP | 5,154,865,407 | | USD | 6,433,529 | | Morgan Stanley | 9/15/23 | (317,875) | |
| CLP | 5,498,516,809 | | USD | 6,600,068 | | Morgan Stanley | 9/15/23 | (76,712) | |
| USD | 7,030,168 | | CLP | 5,691,623,886 | | Bank of America N.A. | 9/15/23 | 277,712 | |
| USD | 6,472,066 | | CLP | 5,462,423,421 | | Bank of America N.A. | 9/15/23 | (8,470) | |
| USD | 6,439,973 | | CLP | 5,319,417,700 | | Goldman Sachs & Co. | 9/15/23 | 129,097 | |
| USD | 13,839,574 | | CLP | 11,107,919,196 | | Morgan Stanley | 9/15/23 | 661,308 | |
| USD | 5,779,523 | | CLP | 4,672,744,122 | | Morgan Stanley | 9/15/23 | 235,850 | |
| CNY | 160,291,565 | | USD | 22,628,865 | | Goldman Sachs & Co. | 9/15/23 | (72,376) | |
| CNY | 55,414,903 | | USD | 7,772,076 | | Goldman Sachs & Co. | 9/15/23 | 25,999 | |
| CNY | 22,883,499 | | USD | 3,226,664 | | Morgan Stanley | 9/15/23 | (6,461) | |
| COP | 11,020,012,808 | | USD | 2,580,799 | | Bank of America N.A. | 9/15/23 | 194,919 | |
| COP | 7,910,178,025 | | USD | 1,832,332 | | Morgan Stanley | 9/15/23 | 160,082 | |
| COP | 28,306,758,629 | | USD | 6,739,704 | | Morgan Stanley | 9/15/23 | 390,195 | |
| USD | 6,908,878 | | COP | 29,597,634,045 | | Goldman Sachs & Co. | 9/15/23 | (546,167) | |
| USD | 8,492,953 | | COP | 36,222,445,649 | | Goldman Sachs & Co. | 9/15/23 | (630,748) | |
| USD | 11,102,874 | | CZK | 244,740,648 | | Goldman Sachs & Co. | 9/15/23 | (141,229) | |
| HUF | 3,093,419,702 | | USD | 8,845,800 | | Bank of America N.A. | 9/15/23 | (147,438) | |
| HUF | 3,664,281,131 | | USD | 10,324,085 | | Bank of America N.A. | 9/15/23 | (20,523) | |
| HUF | 2,483,869,340 | | USD | 7,151,155 | | JPMorgan Chase Bank N.A. | 9/15/23 | (166,783) | |
| HUF | 2,149,936,934 | | USD | 6,247,425 | | Morgan Stanley | 9/15/23 | (202,034) | |
| HUF | 260,029,447 | | USD | 741,649 | | UBS AG | 9/15/23 | (10,474) | |
| USD | 10,130,793 | | HUF | 3,578,161,108 | | JPMorgan Chase Bank N.A. | 9/15/23 | 69,391 | |
| USD | 7,060,481 | | HUF | 2,440,820,321 | | JPMorgan Chase Bank N.A. | 9/15/23 | 197,158 | |
| USD | 9,170,521 | | HUF | 3,157,346,120 | | Morgan Stanley | 9/15/23 | 292,405 | |
| USD | 6,692,590 | | HUF | 2,270,854,057 | | UBS AG | 9/15/23 | 307,194 | |
| USD | 6,420,822 | | HUF | 2,233,952,902 | | UBS AG | 9/15/23 | 139,188 | |
| IDR | 96,812,163,004 | | USD | 6,474,431 | | Goldman Sachs & Co. | 9/15/23 | (66,837) | |
| USD | 3,051,070 | | IDR | 45,582,992,848 | | Bank of America N.A. | 9/15/23 | 34,122 | |
| USD | 2,911,563 | | IDR | 43,556,979,801 | | Bank of America N.A. | 9/15/23 | 28,708 | |
| USD | 3,255,308 | | IDR | 49,073,767,817 | | Bank of America N.A. | 9/15/23 | 7,320 | |
| USD | 4,729,005 | | IDR | 70,358,139,503 | | Goldman Sachs & Co. | 9/15/23 | 72,293 | |
| USD | 3,164,960 | | IDR | 48,123,210,974 | | Morgan Stanley | 9/15/23 | (20,115) | |
| ILS | 23,699,085 | | USD | 6,517,156 | | Bank of America N.A. | 9/15/23 | (60,816) | |
| ILS | 23,239,551 | | USD | 6,482,510 | | Bank of America N.A. | 9/15/23 | (151,360) | |
| ILS | 35,924,858 | | USD | 9,991,483 | | Morgan Stanley | 9/15/23 | (204,476) | |
| USD | 6,562,813 | | ILS | 23,320,511 | | Bank of America N.A. | 9/15/23 | 209,608 | |
| USD | 9,881,938 | | ILS | 35,924,858 | | Goldman Sachs & Co. | 9/15/23 | 94,931 | |
| USD | 9,857,453 | | ILS | 35,800,011 | | Goldman Sachs & Co. | 9/15/23 | 104,458 | |
| USD | 6,655,006 | | ILS | 23,618,125 | | JPMorgan Chase Bank N.A. | 9/15/23 | 220,722 | |
| INR | 798,060,907 | | USD | 9,714,679 | | Morgan Stanley | 9/15/23 | (22,459) | |
| USD | 9,830,393 | | INR | 808,893,850 | | Goldman Sachs & Co. | 9/15/23 | 6,609 | |
| USD | 6,395,947 | | INR | 529,648,403 | | Morgan Stanley | 9/15/23 | (36,480) | |
| USD | 3,254,274 | | INR | 268,412,504 | | Morgan Stanley | 9/15/23 | (5,519) | |
| KRW | 8,560,450,055 | | USD | 6,513,315 | | Bank of America N.A. | 9/15/23 | 202,701 | |
| KRW | 8,547,288,868 | | USD | 6,519,671 | | Bank of America N.A. | 9/15/23 | 186,019 | |
| KRW | 8,382,876,985 | | USD | 6,460,767 | | Morgan Stanley | 9/15/23 | 115,936 | |
| KRW | 8,226,245,782 | | USD | 6,487,064 | | Morgan Stanley | 9/15/23 | (33,245) | |
| KRW | 8,282,246,798 | | USD | 6,349,225 | | Morgan Stanley | 9/15/23 | 148,529 | |
| KRW | 8,394,371,577 | | USD | 6,573,510 | | Morgan Stanley | 9/15/23 | 12,211 | |
| KRW | 8,468,487,846 | | USD | 6,653,955 | | Morgan Stanley | 9/15/23 | (10,087) | |
| USD | 6,680,499 | | KRW | 8,693,333,763 | | Bank of America N.A. | 9/15/23 | (139,769) | |
| USD | 6,597,444 | | KRW | 8,403,824,720 | | Bank of America N.A. | 9/15/23 | 4,308 | |
| USD | 6,623,288 | | KRW | 8,404,952,017 | | Goldman Sachs & Co. | 9/15/23 | 29,266 | |
| USD | 6,441,925 | | KRW | 8,382,876,985 | | Morgan Stanley | 9/15/23 | (134,778) | |
| USD | 6,446,901 | | KRW | 8,226,245,782 | | Morgan Stanley | 9/15/23 | (6,918) | |
| | | | | | | | | | | | | | | | | | | | |
| USD | 6,463,940 | | KRW | 8,282,246,798 | | Morgan Stanley | 9/15/23 | (33,814) | |
| MXN | 99,541,449 | | USD | 5,740,885 | | Bank of America N.A. | 9/15/23 | 157,013 | |
| MXN | 112,999,060 | | USD | 6,587,051 | | Bank of America N.A. | 9/15/23 | 108,220 | |
| MXN | 128,997,415 | | USD | 7,370,033 | | JPMorgan Chase Bank N.A. | 9/15/23 | 273,151 | |
| MXN | 109,897,674 | | USD | 6,356,678 | | JPMorgan Chase Bank N.A. | 9/15/23 | 154,833 | |
| MXN | 193,737,562 | | USD | 11,379,267 | | JPMorgan Chase Bank N.A. | 9/15/23 | 99,815 | |
| MXN | 96,267,892 | | USD | 5,653,408 | | JPMorgan Chase Bank N.A. | 9/15/23 | 50,529 | |
| MXN | 117,386,151 | | USD | 6,910,139 | | JPMorgan Chase Bank N.A. | 9/15/23 | 45,070 | |
| USD | 13,981,611 | | MXN | 238,197,100 | | Bank of America N.A. | 9/15/23 | (131,728) | |
| USD | 3,166,822 | | MXN | 55,404,308 | | Goldman Sachs & Co. | 9/15/23 | (115,921) | |
| USD | 6,930,736 | | MXN | 118,023,652 | | JPMorgan Chase Bank N.A. | 9/15/23 | (62,245) | |
| USD | 3,138,014 | | MXN | 54,718,475 | | Morgan Stanley | 9/15/23 | (104,092) | |
| USD | 12,850,932 | | MXN | 222,842,103 | | Morgan Stanley | 9/15/23 | (352,613) | |
| USD | 2,847,534 | | MXN | 49,548,233 | | Morgan Stanley | 9/15/23 | (88,232) | |
| USD | 3,262,960 | | MXN | 55,865,066 | | Morgan Stanley | 9/15/23 | (47,083) | |
| USD | 14,310,487 | | MXN | 253,745,829 | | UBS AG | 9/15/23 | (724,125) | |
| USD | 3,152,935 | | MXN | 55,200,327 | | UBS AG | 9/15/23 | (117,722) | |
| MYR | 24,746,204 | | USD | 5,416,109 | | Goldman Sachs & Co. | 9/15/23 | 89,085 | |
| MYR | 47,975,846 | | USD | 10,423,867 | | Goldman Sachs & Co. | 9/15/23 | 249,138 | |
| MYR | 31,899,432 | | USD | 7,071,477 | | Goldman Sachs & Co. | 9/15/23 | 25,069 | |
| USD | 2,837,607 | | MYR | 13,067,178 | | Goldman Sachs & Co. | 9/15/23 | (69,399) | |
| PEN | 3,336,256 | | USD | 903,229 | | Goldman Sachs & Co. | 9/15/23 | 19,563 | |
| PHP | 540,061,825 | | USD | 9,697,645 | | Goldman Sachs & Co. | 9/15/23 | 164,277 | |
| PHP | 268,734,826 | | USD | 4,852,561 | | Goldman Sachs & Co. | 9/15/23 | 54,732 | |
| USD | 6,414,925 | | PHP | 360,268,577 | | Goldman Sachs & Co. | 9/15/23 | (163,841) | |
| USD | 3,197,518 | | PHP | 179,793,248 | | Goldman Sachs & Co. | 9/15/23 | (85,637) | |
| USD | 9,674,546 | | PHP | 538,968,958 | | Goldman Sachs & Co. | 9/15/23 | (167,419) | |
| USD | 4,988,280 | | PHP | 272,434,894 | | Goldman Sachs & Co. | 9/15/23 | 13,421 | |
| PLN | 13,413,971 | | USD | 3,218,268 | | Bank of America N.A. | 9/15/23 | 123,141 | |
| PLN | 26,835,967 | | USD | 6,441,395 | | Bank of America N.A. | 9/15/23 | 243,423 | |
| PLN | 39,596,339 | | USD | 9,655,468 | | Goldman Sachs & Co. | 9/15/23 | 207,949 | |
| PLN | 50,917,292 | | USD | 12,650,998 | | UBS AG | 9/15/23 | 32,460 | |
| USD | 6,166,100 | | PLN | 24,747,666 | | Bank of America N.A. | 9/15/23 | 1,476 | |
| USD | 9,336,234 | | PLN | 39,009,296 | | Goldman Sachs & Co. | 9/15/23 | (380,951) | |
| USD | 9,615,421 | | PLN | 39,890,303 | | Goldman Sachs & Co. | 9/15/23 | (321,222) | |
| USD | 6,757,077 | | PLN | 27,035,462 | | JPMorgan Chase Bank N.A. | 9/15/23 | 22,565 | |
| USD | 6,549,926 | | PLN | 27,157,144 | | Morgan Stanley | 9/15/23 | (214,897) | |
| RON | 29,718,541 | | USD | 6,459,386 | | Goldman Sachs & Co. | 9/15/23 | 155,906 | |
| RON | 29,334,824 | | USD | 6,444,370 | | Goldman Sachs & Co. | 9/15/23 | 85,507 | |
| RON | 53,415,430 | | USD | 11,784,249 | | Goldman Sachs & Co. | 9/15/23 | 105,927 | |
| USD | 6,523,788 | | RON | 30,001,630 | | Bank of America N.A. | 9/15/23 | (154,519) | |
| USD | 799,175 | | RON | 3,681,639 | | Goldman Sachs & Co. | 9/15/23 | (20,351) | |
| USD | 11,727,611 | | RON | 53,510,546 | | Goldman Sachs & Co. | 9/15/23 | (183,737) | |
| USD | 5,507,092 | | RON | 24,518,208 | | Goldman Sachs & Co. | 9/15/23 | 49,385 | |
| USD | 6,565,997 | | RON | 29,319,264 | | JPMorgan Chase Bank N.A. | 9/15/23 | 39,583 | |
| THB | 228,300,412 | | USD | 6,652,944 | | Bank of America N.A. | 9/15/23 | 44,065 | |
| THB | 181,126,005 | | USD | 5,344,937 | | Bank of America N.A. | 9/15/23 | (31,752) | |
| THB | 105,432,731 | | USD | 3,047,189 | | Goldman Sachs & Co. | 9/15/23 | 45,595 | |
| THB | 171,857,894 | | USD | 5,088,015 | | Goldman Sachs & Co. | 9/15/23 | (46,703) | |
| THB | 248,875,323 | | USD | 7,082,579 | | JPMorgan Chase Bank N.A. | 9/15/23 | 217,977 | |
| THB | 288,613,803 | | USD | 8,395,061 | | UBS AG | 9/15/23 | 71,192 | |
| USD | 7,084,264 | | THB | 245,257,134 | | JPMorgan Chase Bank N.A. | 9/15/23 | (110,156) | |
| USD | 3,106,896 | | THB | 107,144,732 | | Morgan Stanley | 9/15/23 | (36,108) | |
| USD | 3,274,137 | | THB | 112,923,359 | | Morgan Stanley | 9/15/23 | (38,378) | |
| USD | 3,078,378 | | THB | 106,366,571 | | UBS AG | 9/15/23 | (41,800) | |
| | | | | | | | | | | | | | | | | | | | |
| USD | 3,133,556 | | THB | 108,576,158 | | UBS AG | 9/15/23 | (51,438) | |
| TWD | 295,318,343 | | USD | 9,459,268 | | Morgan Stanley | 9/15/23 | (48,542) | |
| USD | 9,687,333 | | TWD | 295,318,343 | | Bank of America N.A. | 9/15/23 | 276,607 | |
| USD | 9,683,004 | | TWD | 303,562,185 | | Morgan Stanley | 9/15/23 | 9,577 | |
| USD | 2,281,021 | | ZAR | 42,926,107 | | Bank of America N.A. | 9/15/23 | (109,711) | |
| USD | 6,599,809 | | ZAR | 122,276,313 | | Bank of America N.A. | 9/15/23 | (210,266) | |
| USD | 4,791,169 | | ZAR | 88,358,087 | | Bank of America N.A. | 9/15/23 | (129,859) | |
| USD | 6,049,628 | | ZAR | 110,634,548 | | Bank of America N.A. | 9/15/23 | (112,068) | |
| USD | 7,864,506 | | ZAR | 142,576,494 | | Goldman Sachs & Co. | 9/15/23 | (76,169) | |
| USD | 12,880,231 | | ZAR | 239,668,208 | | JPMorgan Chase Bank N.A. | 9/15/23 | (467,884) | |
| USD | 6,388,680 | | ZAR | 121,030,910 | | JPMorgan Chase Bank N.A. | 9/15/23 | (352,032) | |
| USD | 8,965,657 | | ZAR | 162,003,278 | | JPMorgan Chase Bank N.A. | 9/15/23 | (56,977) | |
| USD | 4,502,225 | | ZAR | 79,929,429 | | JPMorgan Chase Bank N.A. | 9/15/23 | 50,624 | |
| USD | 3,601,016 | | ZAR | 66,877,039 | | Morgan Stanley | 9/15/23 | (123,643) | |
| USD | 2,793,234 | | ZAR | 52,020,365 | | Morgan Stanley | 9/15/23 | (103,996) | |
| ZAR | 127,539,700 | | USD | 6,884,717 | | Bank of America N.A. | 9/15/23 | 218,497 | |
| ZAR | 132,204,118 | | USD | 7,079,625 | | Bank of America N.A. | 9/15/23 | 283,369 | |
| ZAR | 154,373,872 | | USD | 8,607,412 | | Bank of America N.A. | 9/15/23 | (9,692) | |
| ZAR | 197,316,046 | | USD | 10,366,520 | | Goldman Sachs & Co. | 9/15/23 | 622,828 | |
| ZAR | 113,842,936 | | USD | 6,179,314 | | Goldman Sachs & Co. | 9/15/23 | 161,070 | |
| ZAR | 77,390,553 | | USD | 4,295,445 | | Goldman Sachs & Co. | 9/15/23 | 14,755 | |
| ZAR | 117,702,547 | | USD | 6,611,582 | | JPMorgan Chase Bank N.A. | 9/15/23 | (56,240) | |
| ZAR | 38,584,312 | | USD | 2,059,487 | | Morgan Stanley | 9/15/23 | 89,433 | |
| ZAR | 27,059,911 | | USD | 1,475,055 | | Morgan Stanley | 9/15/23 | 32,023 | |
| ZAR | 35,743,664 | | USD | 1,948,157 | | Morgan Stanley | 9/15/23 | 42,555 | |
| ZAR | 121,413,029 | | USD | 6,612,753 | | Morgan Stanley | 9/15/23 | 149,241 | |
| | | | | | $ | 963,672 | |
| | | | | | | | | | | | | | |
| FUTURES CONTRACTS PURCHASED |
| Reference Entity | Contracts | Expiration Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| U.S. Treasury 2-Year Notes | 71 | | September 2023 | $ | 14,415,219 | | $ | (191,464) | |
| U.S. Treasury 5-Year Notes | 37 | | September 2023 | 3,952,352 | | (65,052) | |
| U.S. Treasury 10-Year Notes | 401 | | September 2023 | 44,673,906 | | (336,309) | |
| U.S. Treasury Long Bonds | 14 | | September 2023 | 1,742,125 | | (24,527) | |
| U.S. Treasury Ultra Bonds | 96 | | September 2023 | 12,693,000 | | (183,896) | |
| | | $ | 77,476,602 | | $ | (801,248) | |
^Amount represents value and unrealized appreciation (depreciation).
| | | | | | | | | | | | | | |
| FUTURES CONTRACTS SOLD |
| Reference Entity | Contracts | Expiration Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| U.S. Treasury 10-Year Ultra Notes | 346 | | September 2023 | $ | 40,476,594 | | $ | 733,657 | |
^Amount represents value and unrealized appreciation (depreciation).
| | | | | | | | | | | | | | | | | | | | | | | |
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS§ | |
| Reference Entity | Type | Fixed Rate
Received
(Paid)
Quarterly | Termination
Date | Notional
Amount | Premiums
Paid
(Received) | Unrealized
Appreciation
(Depreciation) | Value^ |
| Brazil Government International Bond | Buy | (1.00)% | 6/20/28 | $ | 16,980,000 | | $ | 1,054,855 | | $ | (612,694) | | $ | 442,161 | |
| Chile Government International Bond | Buy | (1.00)% | 6/20/28 | $ | 7,500,000 | | 68,689 | | (199,584) | | (130,895) | |
Colombia Government International Bond | Buy | (1.00)% | 6/20/28 | $ | 12,830,000 | | 757,227 | | (235,181) | | 522,046 | |
Malaysia Government International Bond | Buy | (1.00)% | 6/20/28 | $ | 6,800,000 | | (60,109) | | (120,835) | | (180,944) | |
| Markit CDX North America High Yield Index Series 39 | Buy | (5.00)% | 12/20/27 | $ | 12,474,000 | | 175,422 | | (725,427) | | (550,005) | |
| Markit CDX North America High Yield Index Series 39 | Buy | (1.00)% | 6/20/28 | $ | 16,550,000 | | 700,193 | | (87,498) | | 612,695 | |
Mexico Government International Bond | Buy | (1.00)% | 6/20/28 | $ | 38,870,000 | | 652,504 | | (703,493) | | (50,989) | |
Republic of South Africa Government International Bond | Buy | (1.00)% | 6/20/28 | $ | 10,568,000 | | 771,292 | | (214,205) | | 557,087 | |
| | | | | $ | 4,120,073 | | $ | (2,898,917) | | $ | 1,221,156 | |
§Credit default swap agreements enable the fund to buy/sell protection against a credit event of a specific issuer or index. As a seller of credit protection against a security or basket of securities, the fund receives an upfront and/or periodic payment to compensate against potential default events. The fund may attempt to enhance returns by selling protection.
^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS | | |
Floating Rate Index | Pay/Receive Floating Rate Index at Termination | Fixed
Rate | Termination
Date | Notional
Amount | Premiums
Paid
(Received) | Unrealized
Appreciation
(Depreciation) | Value |
| BZDIOVRA | Pay | 11.97% | 1/2/26 | BRL | 38,987,649 | | $ | (548) | | $ | 336,821 | | $ | 336,273 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| INTEREST RATE SWAP AGREEMENTS | |
| Counterparty | Floating Rate Index | Pay/Receive Floating Rate Index at Termination | Fixed
Rate | Termination
Date | Notional
Amount | Value^ |
| Bank of America N.A. | BZDIOVRA | Pay | 11.59% | 1/2/24 | BRL | 88,768,541 | | $ | (503,965) | |
| Bank of America N.A. | BZDIOVRA | Pay | 12.85% | 1/2/24 | BRL | 80,739,159 | | (94,390) | |
| Barclays Bank PLC | BZDIOVRA | Pay | 11.56% | 1/2/26 | BRL | 31,677,942 | | 207,018 | |
| Goldman Sachs & Co. | BZDIOVRA | Pay | 12.96% | 1/2/26 | BRL | 60,455,066 | | 872,455 | |
| Goldman Sachs & Co. | BZDIOVRA | Pay | 10.85% | 1/2/26 | BRL | 27,510,129 | | 85,019 | |
| Goldman Sachs & Co. | BZDIOVRA | Pay | 10.37% | 1/2/26 | BRL | 27,923,471 | | 20,886 | |
| Morgan Stanley | BZDIOVRA | Pay | 11.03% | 1/2/24 | BRL | 105,566,396 | | (812,160) | |
| | | | | | | $ | (225,137) | |
^Amount represents value and unrealized appreciation (depreciation).
| | | | | | | | |
| NOTES TO SCHEDULE OF INVESTMENTS |
| BRL | – | Brazilian Real |
| BZDIOVRA | – | Brazil Interbank Deposit Rate |
| CDX | – | Credit Derivatives Indexes |
| CLP | – | Chilean Peso |
| CNY | – | Chinese Yuan |
| COP | – | Colombian Peso |
| CZK | – | Czech Koruna |
| HUF | – | Hungarian Forint |
| IDR | – | Indonesian Rupiah |
| ILS | – | Israeli Shekel |
| INR | – | Indian Rupee |
| KRW | – | South Korean Won |
| MXN | – | Mexican Peso |
| MYR | – | Malaysian Ringgit |
| PEN | – | Peruvian Sol |
| PHP | – | Philippine Peso |
| PLN | – | Polish Zloty |
| RON | – | New Romanian Leu |
| THB | – | Thai Baht |
| TWD | – | Taiwanese Dollar |
| USD | – | United States Dollar |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
| ZAR | – | South African Rand |
(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $163,722,701, which represented 24.6% of total net assets.
(2)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
(3)Security is in default.
(4)Non-income producing.
(5)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $1,454,531. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(6)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $6,059,525.
(7)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $1,487,500.
(8)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Fixed income securities initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.
Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.
Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred stocks and convertible preferred stocks with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.
Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers. Forward foreign currency exchange contracts are valued at the mean of the appropriate forward exchange rate at the close of the NYSE as provided by an independent pricing service. Investments initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.
If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.
The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.
2. Fair Value Measurements
The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.
•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.
•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.
| | | | | | | | | | | |
| Level 1 | Level 2 | Level 3 |
| Assets | | | |
| Investment Securities | | | |
| Sovereign Governments and Agencies | — | | $ | 414,377,919 | | — | |
| Corporate Bonds | — | | 158,312,248 | | — | |
| U.S. Treasury Securities | — | | 14,172,561 | | — | |
| Preferred Stocks | — | | 588,636 | | — | |
| Short-Term Investments | $ | 1,487,500 | | 69,547,036 | | — | |
| $ | 1,487,500 | | $ | 656,998,400 | | — | |
| Other Financial Instruments | | | |
| Futures Contracts | $ | 733,657 | | — | | — | |
| Swap Agreements | — | | $ | 3,655,640 | | — | |
| Forward Foreign Currency Exchange Contracts | — | | 11,783,605 | | — | |
| $ | 733,657 | | $ | 15,439,245 | | — | |
| Liabilities | | | |
| Other Financial Instruments | | | |
| Futures Contracts | $ | 801,248 | | — | | — | |
| Swap Agreements | — | | $ | 2,323,348 | | — | |
| Forward Foreign Currency Exchange Contracts | — | | 10,819,933 | | — | |
| $ | 801,248 | | $ | 13,143,281 | | — | |
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.
