| Principal | | | | | | |
| Amount (CNH) | | | Corporate Bonds: 77.6% | | Value | |
| | | | Auto-Cars/Light Trucks: 3.4% | | | |
| | 1,000,000 | | | Volkswagen International Finance NV, 2.900%, 01/21/24 | | $ | 136,508 | |
| | | | | | | | | |
| | | | | Commercial Banks: 34.1% | | | | |
| | 1,000,000 | | | Bank of China, 3.080%, 04/28/26 | | | 136,273 | |
| | 1,000,000 | | | Bank of Communications Bank Co., Ltd., 3.200%, 03/21/24 | | | 136,756 | |
| | 4,000,000 | | | First Abu Dhabi Bank, 3.400%, 08/18/25 | | | 545,133 | |
| | 1,000,000 | | | QNB Finance Ltd., 3.800%, 06/17/25 | | | 136,770 | |
| | 1,000,000 | | | QNB Finance Ltd., 3.900%, 06/17/25 | | | 136,393 | |
| | 2,000,000 | | | Standard Chartered PLC 4.350%, 03/18/26 | | | 276,535 | |
| | | | | | | | 1,367,860 | |
| | | | | Diversified Banks: 3.4% | | | | |
| | 1,000,000 | | | HSBC Holding, 3.400%, 06/29/27 | | | 136,468 | |
| | | | | | | | | |
| | | | | Diversified Operations: 3.4% | | | | |
| | 1,000,000 | | | Wharf Finance Lrd., 3.250%, 01/14/24 | | | 136,841 | |
| | | | | | | | | |
| | | | | Export/Import Bank: 20.5% | | | | |
| | 1,000,000 | | | Agriculture Development Bank of China 3.400%, 11/06/24 | | | 137,798 | |
| | 1,000,000 | | | China Development Bank, 3.030%, 11/27/23 | | | 137,040 | |
| | 1,000,000 | | | China Development Bank, 3.230%, 11/27/25 | | | 137,761 | |
| | 1,000,000 | | | European International Bank, 2.700%, 04/22/24 | | | 136,315 | |
| | 1,000,000 | | | Export-Import Bank of Korea, 4.500%, 01/27/24 | | | 137,436 | |
| | 1,000,000 | | | Kreditanstalt Fuer Wiederaufbau, 2.700%, 03/25/24 | | | 136,361 | |
| | | | | | | | 822,711 | |
| | | | | Finance-Mtg Loan/Banker: 3.4% | | | | |
| | 1,000,000 | | | Hong Kong Mortgage Corp. Ltd., 2.700%, 02/09/24 | | | 136,574 | |
| | | | | | | | | |
| | | | | Municipal City: 3.4% | | | | |
| | 1,000,000 | | | Municipality of Shenzhen China, 2.900%, 10/19/26 | | | 136,197 | |
| | | | | | | | | |
| | | | | Transportation Services: 2.6% | | | | |
| | 1,000,000 | | | GLP China Holding Ltd., 4.000%, 02/7/24 | | | 106,268 | |
| | | | | | | | | |
| | | | | Real Estate Operator/Developer: 3.4% | | | | |
| | 1,000,000 | | | Sun Hung Kai Properties 3.200%, 08/14/27 | | | 134,400 | |
| | | | | | | | | |
| | | | | Total Corporate Bonds | | $ | 3,113,827 | |
| | | | | (cost $3,486,068) | | | | |
| | | | | | | | | |
| | | | | Total Investments in Securities | | | 3,113,827 | |
| | | | | (cost $3,486,068): 77.6% | | | | |
| | | | | | | | | |
| | | | | China Yuan (Offshore): 21.8% | | | 831,831 | |
| | | | | Other Assets less Liabilities: 0.6% | | | 67,332 | |
| | | | | | | | | |
| | | | | Net Assets: 100.0% | | $ | 4,012,990 | |
