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Schedules of Investments (Item 7)
1
E
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B
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7
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3
1
Statements of Assets and Liabilities (Item 7)
3
3
Statements of Operations (Item 7)
3
4
Statements of Changes in Net Assets (Item 7)
3
6
Financial Highlights (Item 7)
4
4
Notes to Financial Statements (Item 7)
6
5
Report of Independent Registered Public Accounting Firm (Item 7)
6
6
Changes in and Disagreements with Accountants (Item 8)
6
6
Proxy Disclosures (Item 9)
6
6
Remuneration Paid to Directors, Officers, and Others (Item 10)
S
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e
N
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t
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.
1
LONG-TERM INVESTMENTS 96.13%
CONVERTIBLE BONDS 0.04%
China
Lodging
H World Group Ltd.
3.00%
5/1/2026 $
48,000 $
50,990
CORPORATE BONDS 31.62%
Argentina 0.55%
Energy-Alternate Sources 0.31%
YPF Energia Electrica SA
†
7.875% 10/16/2032 343,000
339,563
Oil & Gas 0.24%
Pan American Energy LLC
†(a)
8.50%
4/30/2032 249,000
265,916
Total Argentina
605,479
Brazil 1.50%
Airlines 0.40%
Azul Secured Finance II LLP
†
12.82%
(3 mo. USD Term SOFR + 8.25%)
#
1/28/2025
28,094
28,455
Azul Secured Finance LLP
†
11.93%
8/28/2028 411,930
416,369
444,824
Building Materials 0.21%
St. Mary’s Cement, Inc.
†
5.75%
4/2/2034 242,000
233,683
Diversified Financial Services 0.27%
XP, Inc.
†
6.75%
7/2/2029 300,000
298,503
Forest Products & Paper 0.19%
LD Celulose International GmbH
†
7.95%
1/26/2032 208,000
208,731
Iron-Steel 0.26%
Vale Overseas Ltd.
6.40%
6/28/2054 290,000
285,411
Transportation 0.17%
Rumo Luxembourg SARL
5.25%
1/10/2028 200,000
194,778
Total Brazil
1,665,930
Chile 2.28%
Banks 0.19%
Banco de Credito e Inversiones SA
†
8.75%
(5 yr. CMT + 4.94%)
#
–
(b)
200,000
209,350
Electric 0.51%
Alfa Desarrollo SpA
†
4.55%
9/27/2051 495,520
365,624
Chile Electricity Lux MPC II SARL
†
5.58% 10/20/2035 200,000
194,606
560,230
S
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EMERGING MARKETS BOND FUND
D
e
c
e
m
b
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r
3
1
,
2
0
2
4
Interest Maturity Principal
Fair
Investments
Rate
Date Amount
‡
Value