| Security | $Holding | Balance | % of Fund | Category | Position | Country |
|---|---|---|---|---|---|---|
| Federated Hermes Government Obligations Fund | 109.93 mm | 109.93 mm shares | 10.92 | Short-term investment vehicle | Long | USA |
| Yinson Bergenia Production B.V. Mini-Perm Senior Secured Project Financing | 17.59 mm | 17.59 mm principal | 1.75 | Loan | Long | Brazil |
| Navoi Mining and Metallurgical Company Unsecured Term Loan | 17.50 mm | 17.50 mm principal | 1.74 | Loan | Long | XX |
| Heritage Petroleum Company Limited Term Loan | 17.34 mm | 17.28 mm principal | 1.72 | Loan | Long | Trinidad and Tobago |
| Republic of Cote d'Ivoire The 2019 EUR Uncommitted Revolver | 17.23 mm | 15.50 mm principal | 1.71 | Loan | Long | Côte d'Ivoire |
| Azule Energy Holding Ltd Pre Export Term Loan | 17.10 mm | 17.00 mm principal | 1.70 | Loan | Long | XX |
| Marfrig Global Foods SA Advance on Foreign Exchange Contracts Term Loan | 17.06 mm | 17.00 mm principal | 1.70 | Loan | Long | Brazil |
| Republic of Cote d'Ivoire The 2023 EUR 1-Year Syndicated Term Loan | 16.70 mm | 15.00 mm principal | 1.66 | Loan | Long | Côte d'Ivoire |
| Denizbank AS 2023 EUR LC Discounting Term Loan | 16.70 mm | 15.00 mm principal | 1.66 | Loan | Long | Turkey |
| Trafigura PTE LTD 2023 Uncommitted Trade Finance Facility | 16.46 mm | 16.50 mm principal | 1.64 | Loan | Long | Singapore |
| Republic of Senegal Ministry of Finance and Budget 2023 EUR 1st Lien Term Loan | 15.48 mm | 14.00 mm principal | 1.54 | Loan | Long | XX |
| Africa Finance Corporation 2021 Fixed Syndicated Term Loan | 15.00 mm | 15.00 mm principal | 1.49 | Loan | Long | Nigeria |
| Turkiey Ihracat Kredi Bankasi AS (TurkExim) 2024 ESG Syndicated Tranche Term Loan B | 15.00 mm | 15.00 mm principal | 1.49 | Loan | Long | Turkey |
| Glencore International AG 2022 Term Loan | 14.82 mm | 15.07 mm principal | 1.47 | Loan | Long | Switzerland |
| TDC Net A/S EUR Sustainability Linked Senior Term Loan | 14.75 mm | 13.25 mm principal | 1.47 | Loan | Long | Germany |
| National Bank of Egypt 2024 1st Lien Deferred Payment LC | 14.50 mm | 14.50 mm principal | 1.44 | Loan | Long | Egypt |
| Turkiye Petrol Rafinerileri A.S.2024 Single Receivable Financing Term Loan | 14.38 mm | 14.50 mm principal | 1.43 | Loan | Long | Turkey |
| Government of Arab Republic of Egypt EGY-228 (GASC) Syndicated ITFC Murabaha facility (EGY/0228) | 14.16 mm | 14.16 mm principal | 1.41 | Loan | Long | Egypt |
| Prime Oil and Gas Cooperatief UA Revolver | 14.03 mm | 14.06 mm principal | 1.39 | Loan | Long | Nigeria |
| Joint Stock Company Asakabank Syndicated Term Loan Facility | 14.02 mm | 14.00 mm principal | 1.39 | Loan | Long | XX |
| CC Energy Development Limited - BVI Incorporated Borrowing Base Facility | 14.00 mm | 14.00 mm principal | 1.39 | Loan | Long | Oman |
| Beta Lula Central SARL (Lux Inc) Term Loan | 13.86 mm | 13.84 mm principal | 1.38 | Loan | Long | Brazil |
| Republic of Cote d'Ivoire The 2024 EUR Upsize Term Loan | 13.84 mm | 12.50 mm principal | 1.37 | Loan | Long | Côte d'Ivoire |
| The Republic of Benin MOF 2 EUR Term Loan | 13.83 mm | 12.43 mm principal | 1.37 | Loan | Long | XX |
| Aramco Trading Fujairah FZETerm Loan | 13.63 mm | 13.67 mm principal | 1.35 | Loan | Long | Saudi Arabia |
| Venture Global Plaquemines LNG, LLC (VGPL) Senior Secured Debt | 13.56 mm | 13.56 mm principal | 1.35 | Loan | Long | USA |
| IHS Holding Limited, Cayman Island Incorporation Unsecured Term Loan | 13.44 mm | 13.44 mm principal | 1.34 | Loan | Long | Nigeria |
| Telekom Srbija a. d. Beograd EUR Single Currency Term Loan | 13.14 mm | 11.80 mm principal | 1.30 | Loan | Long | Serbia |
| Venture Global Calcasieu Pass, LLC Term Loan | 12.84 mm | 12.84 mm principal | 1.28 | Loan | Long | USA |
| Mantoverde S.A Term Loan | 12.53 mm | 12.64 mm principal | 1.24 | Loan | Long | Chile |
| Alfa Lula Alto SARL Term Loan Tranche A | 12.01 mm | 11.94 mm principal | 1.19 | Loan | Long | Brazil |
| Sonasing Xikomba Limited Term Loan | 11.78 mm | 11.78 mm principal | 1.17 | Loan | Long | XX |
| BLUENORD ENERGY DENMARK AS TERM LOAN | 11.42 mm | 11.48 mm principal | 1.13 | Loan | Long | Denmark |
| Phoenix Tower International (PTI) Iberica V, NewCo EUR Refinancing Term Loan | 11.22 mm | 9.80 mm principal | 1.11 | Loan | Long | Italy |
| Republic of Senegal Ministry of Finance and Budget 2023 EUR Term Loan | 11.13 mm | 10.00 mm principal | 1.11 | Loan | Long | XX |
| Turkiye Vakiflar Bankasi TAO Istanbul 2023 EUR Term Loan | 11.13 mm | 10.00 mm principal | 1.11 | Loan | Long | Turkey |
| INEOS AUTOMOTIVE LIMITED UK EUR ASSET BASED FINANCE TL | 11.06 mm | 9.94 mm principal | 1.10 | Loan | Long | UK |
| Tillman Infrastructure ABS SUB 1, LLC Term Loan Tranche A | 10.97 mm | 11.00 mm principal | 1.09 | Loan | Long | USA |
| Maher Terminal LLC Senior Secured Term Loan | 10.93 mm | 11.00 mm principal | 1.09 | Loan | Long | USA |
| Qatar Electricity and Water Company QPSC Term Loan | 10.81 mm | 10.99 mm principal | 1.07 | Loan | Long | Qatar |
| PETROLEOS DEL PERU 2023 TERM LOAN | 10.52 mm | 10.50 mm principal | 1.04 | Loan | Long | Peru |
| The Federal Republic of Nigeria Term Loan | 10.00 mm | 10.00 mm principal | 0.99 | Loan | Long | Nigeria |
| Egyptian General Petroleum Company (EGPC)Syndicated ITFC Murabaha facility (EGY/0229) | 9.10 mm | 9.10 mm principal | 0.90 | Loan | Long | Egypt |
| TC Ziraat Bankasi AS 2024 EUR Dual Currency Term Loan | 8.86 mm | 8.00 mm principal | 0.88 | Loan | Long | Turkey |
| Republic of Cote d'Ivoire The 2020 EUR 7-Year Syndicated Term Loan | 8.77 mm | 7.88 mm principal | 0.87 | Loan | Long | Côte d'Ivoire |
| Carmo Energy SA (Carmo) Brazil Term Loan | 8.75 mm | 8.71 mm principal | 0.87 | Loan | Long | Brazil |
| Fraport TAV Antalya Yatirim Yapim ve Isletme EUR Term Loan | 8.41 mm | 7.50 mm principal | 0.84 | Loan | Long | Turkey |
| Eesti Energia AS EUR Term Loan | 8.27 mm | 7.43 mm principal | 0.82 | Loan | Long | Estonia |
| Phoenix Tower International Chile SPA PTI Americas Syndicated Term Loan | 8.10 mm | 8.00 mm principal | 0.80 | Loan | Long | Chile |
| Ministry of Finance of Tanzania 2019 Term Loan | 8.00 mm | 8.00 mm principal | 0.79 | Loan | Long | Tanzania, United Republic of |
| STAATSOLIE MAATS SURINAME NV TERM LOAN | 7.98 mm | 7.98 mm principal | 0.79 | Loan | Long | XX |
| HTA GROUP LTD 2024 TRANCHE C TERM LOAN | 7.96 mm | 8.20 mm principal | 0.79 | Loan | Long | USA |
| Sonangol Finance Ltd.2021 Term Loan | 7.94 mm | 7.94 mm principal | 0.79 | Loan | Long | XX |
| Medina Partnership, S.A. EUR Term Loan | 7.83 mm | 7.08 mm principal | 0.78 | Loan | Long | Spain |
| Ten Ghana MV25 BV Term Loan | 7.60 mm | 8.09 mm principal | 0.76 | Loan | Long | Ghana |
| HARMONY GOLD MINING COMP LTD TERM LOAN | 7.50 mm | 7.50 mm principal | 0.75 | Loan | Long | South Africa |
| Gridiron Fiber Corp. 2023 Term Loan | 7.43 mm | 7.43 mm principal | 0.74 | Loan | Long | USA |
| ITG3 SARL SENIOR SECURED TERM LOAN | 7.34 mm | 7.41 mm principal | 0.73 | Loan | Long | Switzerland |
| Zenith Bank PLC 2024 Term Loan | 7.00 mm | 7.00 mm principal | 0.70 | Loan | Long | Nigeria |
| International Beverage Tashkent Term Loan | 6.10 mm | 6.10 mm principal | 0.61 | Loan | Long | XX |
| Impala Terminals Switzerland SAR Term Loan | 6.05 mm | 6.07 mm principal | 0.60 | Loan | Long | Switzerland |
| Joint Stock Commercial Bank Agrobank 2024 Term Loan Tranche A | 6.01 mm | 6.00 mm principal | 0.60 | Loan | Long | Uzbekistan |
| State Oil Company of Azerbaijan Republic 2021 Term Loan | 6.00 mm | 6.00 mm principal | 0.60 | Loan | Long | XX |
| PT MAXPOWER INDONESIA 2019 IDR RESTRUCTURED TL | 5.75 mm | 87.09 bn principal | 0.57 | Loan | Long | Indonesia |
| Akbank TAS EUR Akbank Dual Currency Term Loan | 5.56 mm | 5.00 mm principal | 0.55 | Loan | Long | Turkey |
| Yapi ve Kredi Bankasi AS 2023 EUR Denominated Tranche Term Loan B | 5.56 mm | 5.00 mm principal | 0.55 | Loan | Long | Turkey |
| National Bank for Foreign Economic Activity of the Republic of Uzbekistan 2022 EUR Term Loan | 5.56 mm | 5.00 mm principal | 0.55 | Loan | Long | Uzbekistan |
| The Sharjah Electricity and Water Authority 2020 Term Loan | 5.38 mm | 5.38 mm principal | 0.53 | Loan | Long | United Arab Emirates |
| Karpower Latam Solutions DMCC Term Loan | 5.26 mm | 5.29 mm principal | 0.52 | Loan | Long | Dominican Republic |
| Puma International Financing S.A. 2024 Sustainability Linked Term Loan | 5.02 mm | 5.09 mm principal | 0.50 | Loan | Long | Luxembourg |
| Eastern and Southern African Trade and Development Bank 2023 Tranche B 1 Term Loan | 5.00 mm | 5.00 mm principal | 0.50 | Loan | Long | South Africa |
| Eastern and Southern African Trade and Development Bank 2022 Term Loan B | 5.00 mm | 5.00 mm principal | 0.50 | Loan | Long | South Africa |
| TC Ziraat Bankasi AS 2024 Dual Currency Term Loan | 4.98 mm | 5.00 mm principal | 0.49 | Loan | Long | Turkey |
| Yapi ve Kredi Bankasi AS 2024 USD Denominated Tranche Term Loan | 4.97 mm | 5.00 mm principal | 0.49 | Loan | Long | Turkey |
| Minister of Finance of Ukraine EUR Senior Unsecured Term Loan | 4.94 mm | 5.00 mm principal | 0.49 | Loan | Long | Ukraine |
| JSC UzAuto Motors 2023 Unsecured Syndicated Term Loan | 4.80 mm | 4.80 mm principal | 0.48 | Loan | Long | XX |
| Karadeniz KPS12 2021 Term Loan | 4.55 mm | 4.56 mm principal | 0.45 | Loan | Long | Turkey |
| Republic of Senegal, Ministry of Economy, Planning and Cooperation (MEPC) 2022 EUR Syndicated ITFC Murabaha facility (SEN/0208) | 4.45 mm | 3.99 mm principal | 0.44 | Loan | Long | XX |
| Government of The Republic of Kenya Acting through The National Treasury 2019 Syndicated Term Loan facility | 4.19 mm | 4.19 mm principal | 0.42 | Loan | Long | Kenya |
| Egyptian Ethylene & Derivatives Company SAE Term Loan | 4.14 mm | 4.14 mm principal | 0.41 | Loan | Long | Egypt |
| Sonangol Finance Ltd. 2020 Term Loan | 3.90 mm | 3.90 mm principal | 0.39 | Loan | Long | XX |
| Yinson Azalea Production Term Loan A | 3.73 mm | 3.73 mm principal | 0.37 | Loan | Long | Singapore |
| Alfa Lula Alto SARL Term Loan Tranche B | 3.73 mm | 3.73 mm principal | 0.37 | Loan | Long | Brazil |
| IHS Zambia 2021 Term Loan | 3.52 mm | 3.50 mm principal | 0.35 | Loan | Long | Zambia |
| PJSC Acron Syndicated Committed Pre-Export Finance Facility | 3.28 mm | 3.36 mm principal | 0.33 | Loan | Long | USA |
| Papua New Guinea Liquefied Natural Gas Global Company LDC 2013 Supplemental Senior Debt Uncovered Bank Term Loan Facility | 3.04 mm | 3.04 mm principal | 0.30 | Loan | Long | Papua New Guinea |
| PJSC MMC Norilsk Nickel Term Loan B | 2.66 mm | 2.80 mm principal | 0.26 | Loan | Long | Russian Federation |
| Eastern and Southern African Trade and Development Bank 2023 Tranche A-1 Term Loan | 1.99 mm | 2.00 mm principal | 0.20 | Loan | Long | South Africa |
| PT MAXPOWER INDONESIA 2019 IDR RESTRUCTURED PIK TL | 1.82 mm | 27.51 bn principal | 0.18 | Loan | Long | Indonesia |
| Sonangol Finance Ltd. 2023 Term Loan | 1.76 mm | 1.80 mm principal | 0.18 | Loan | Long | Angola |
| Karpower International DMCC Term Loan | 1.66 mm | 1.67 mm principal | 0.16 | Loan | Long | XX |
| Glencore SNPC Term Loan | 1.57 mm | 1.70 mm principal | 0.16 | Loan | Long | South Africa |
| Bank of Industry Limited EUR Syndicated Term Loan | 1.18 mm | 1.06 mm principal | 0.12 | Loan | Long | Nigeria |
| Phoenix Tower International (PTI) Iberica V, NewCo EUR Acquisition/Capex Term Loan | 907.97 k | 793.13 k principal | 0.09 | Loan | Long | Italy |
| SAUDI BIN LADEN GROUP LIMITED TERM LOAN | 888.99 k | 4.44 mm principal | 0.09 | Loan | Long | Saudi Arabia |
| GHANA COCOA BOARD 2020 TERM LOAN | 617.02 k | 618.75 k principal | 0.06 | Loan | Long | Ghana |
| VICENTIN S.A.I.C. PRE EXPORT TERM LOAN | 541.32 k | 4.92 mm principal | 0.05 | Loan | Long | Argentina |
| MOLINO CANUELAS SACIFIA TERM LOAN PRE EXPORT FINANCING | 500.00 k | 5.00 mm principal | 0.05 | Loan | Long | Argentina |
|
PURCHASED USD / SOLD EUR
State Street Bank & Trust Co.
|
304.72 k | 1.00 contracts | 0.03 | DFE | N/A | USA |
| Vicentin S.A.I.C. Pre-Export Term Loan Tranche B | 275.00 k | 2.50 mm principal | 0.03 | Loan | Long | Argentina |
| VIRGOLINO DE OLIVEIRA S/A TERM LOAN | 210.04 k | 1.10 mm principal | 0.02 | Loan | Long | Brazil |
|
PURCHASED USD / SOLD EUR
State Street Bank & Trust Co.
|
175.11 k | 1.00 contracts | 0.02 | DFE | N/A | USA |
| AMMALAY COMMODITIES JLT TERM LOAN | 0 | 2.57 mm principal | 0.00 | Loan | Long | United Arab Emirates |
|
PURCHASED USD / SOLD IDR
Morgan Stanley Capital Services LLC
|
-147.72 k | 1.00 contracts | -0.01 | DFE | N/A | USA |
