| Principal Amount | Value | |
| Foreign Government Bonds — 64.00% | ||
| Angola — 3.26% | ||
| $285,000 | Angolan Government International Bond, 8.00%, 11/26/29 | $292,825 |
| 200,000 | Angolan Government International Bond, 8.25%, 5/9/28 | 209,203 |
| 225,000 | Angolan Government International Bond, 9.13%, 11/26/49 | 230,921 |
| 200,000 | Angolan Government International Bond, 9.50%, 11/12/25 | 219,357 |
| 952,306 | ||
| Argentina — 3.68% | ||
| 397,095 | Argentine Republic Government International Bond, 0.13%, 7/9/35 | 126,378 |
| 400,204 | Argentine Republic Government International Bond, 0.13%, 1/9/38 | 150,076 |
| 1,625,000 | Argentine Republic Government International Bond, 0.13%, 7/9/41 | 581,740 |
| 125,137 | Argentine Republic Government International Bond, 1.00%, 7/9/29 | 47,637 |
| 380,000 | Provincia de Buenos Aires/Government Bonds, 9.13%, 3/16/24 | 169,765 |
| 1,075,596 | ||
| Armenia — 0.78% | ||
| 200,000 | Republic of Armenia International Bond, 7.15%, 3/26/25 | 227,851 |
| Brazil — 2.33% | ||
| 700,000 | Brazilian Government International Bond, 4.75%, 1/14/50 | 680,016 |
| Colombia — 1.38% | ||
| 200,000 | Colombia Government International Bond, 3.00%, 1/30/30 | 196,224 |
| 210,000 | Colombia Government International Bond, 3.25%, 4/22/32 | 205,719 |
| 401,943 | ||
| Dominican Republic — 2.73% | ||
| 150,000 | Dominican Republic International Bond, 4.88%, 9/23/32 | 155,441 |
| 270,000 | Dominican Republic International Bond, 5.50%, 1/27/25 | 296,888 |
| 345,000 | Dominican Republic International Bond, 5.88%, 1/30/60 | 345,855 |
| 798,184 | ||
| Ecuador — 2.08% | ||
| 882,441 | Ecuador Government International Bond, 0.50%, 7/31/35 | 607,193 |
| Egypt — 2.69% | ||
| 200,000 | Egypt Government International Bond, 7.50%, 2/16/61 | 187,725 |
| 9,675,000 | Egypt Treasury Bills, 0.00%, 9/21/21(a) | 598,962 |
| 786,687 | ||
| El Salvador — 0.97% | ||
| 113,000 | El Salvador Government International Bond, 6.38%, 1/18/27 | 103,009 |
| Principal Amount | Value | |
| $120,000 | El Salvador Government International Bond, 7.65%, 6/15/35 | $110,287 |
| 70,000 | El Salvador Government International Bond, 8.63%, 2/28/29 | 69,212 |
| 282,508 | ||
| Indonesia — 0.97% | ||
| 270,000 | Perusahaan Penerbit SBSN Indonesia III, 3.80%, 6/23/50 | 282,938 |
| Iraq — 2.15% | ||
| 437,500 | Iraq International Bond, 5.80%, 1/15/28 | 424,863 |
| 200,000 | Iraq International Bond, 6.75%, 3/9/23 | 204,796 |
| 629,659 | ||
| Lebanon — 0.49% | ||
| 36,000 | Lebanon Government International Bond, 5.80%, 4/14/20(b) | 4,500 |
| 66,000 | Lebanon Government International Bond, 6.00%, 1/27/23(b) | 8,250 |
| 85,000 | Lebanon Government International Bond, EMTN, 6.10%, 10/4/22(b) | 10,625 |
| 106,000 | Lebanon Government International Bond, GMTN, 6.15%, 6/19/20(b) | 13,676 |
| 675,000 | Lebanon Government International Bond, GMTN, 6.38%, 3/9/20(b) | 84,375 |
| 166,000 | Lebanon Government International Bond, 8.25%, 4/12/21(b) | 21,580 |
| 5,000 | Lebanon Government International Bond, 8.25%, 5/17/34(b) | 654 |
| 143,660 | ||
| Macedonia — 0.80% | ||
| 200,000(c) | North Macedonia Government International Bond, 1.63%, 3/10/28 | 233,356 |
| Mexico — 1.90% | ||
| 275,000 | Mexico Government International Bond, 3.77%, 5/24/61 | 257,446 |
| 280,000 | Mexico Government International Bond, 4.50%, 1/31/50 | 298,896 |
| 556,342 | ||
| Nigeria — 2.39% | ||
| 200,000 | Nigeria Government International Bond, 6.50%, 11/28/27 | 212,634 |
| 450,000 | Nigeria Government International Bond, 7.88%, 2/16/32 | 485,779 |
| 698,413 | ||
| Oman — 5.99% | ||
| 200,000 | Oman Government International Bond, 4.75%, 6/15/26 | 207,822 |
| 200,000 | Oman Government International Bond, 4.88%, 2/1/25 | 209,732 |
| 400,000 | Oman Government International Bond, 6.25%, 1/25/31 | 429,498 |
| 265,000 | Oman Government International Bond, 6.75%, 10/28/27 | 297,329 |
| 200,000 | Oman Government International Bond, 6.75%, 1/17/48 | 199,483 |
| 200,000 | Oman Government International Bond, 7.00%, 1/25/51 | 204,282 |
| 200,000 | Oman Sovereign Sukuk Co., 4.88%, 6/15/30 | 203,500 |
| 1,751,646 | ||
| Principal Amount | Value | |
| Pakistan — 1.63% | ||
| $470,000 | Pakistan Government International Bond, 6.00%, 4/8/26 | $475,884 |
| Paraguay — 0.80% | ||
| 200,000 | Paraguay Government International Bond, 5.40%, 3/30/50 | 234,867 |
| Philippines — 1.68% | ||
| 300,000 | Philippine Government International Bond, 2.95%, 5/5/45 | 290,763 |
| 200,000 | Philippine Government International Bond, 3.20%, 7/6/46 | 200,712 |
| 491,475 | ||
| Qatar — 0.84% | ||
| 200,000 | Qatar Government International Bond, 4.40%, 4/16/50 | 244,081 |
| Romania — 3.06% | ||
| 35,000(c) | Romanian Government International Bond, 2.00%, 4/14/33 | 41,134 |
| 135,000(c) | Romanian Government International Bond, 2.12%, 7/16/31 | 164,978 |
| 100,000(c) | Romanian Government International Bond, 2.63%, 12/2/40 | 117,411 |
| 250,000(c) | Romanian Government International Bond, 2.75%, 4/14/41 | 293,604 |
| 107,000(c) | Romanian Government International Bond, 3.38%, 1/28/50 | 134,838 |
| 134,000 | Romanian Government International Bond, 4.00%, 2/14/51 | 141,003 |
| 892,968 | ||
| Saudi Arabia — 2.34% | ||
| 260,000 | Saudi Government International Bond, 3.45%, 2/2/61 | 259,501 |
| 400,000 | Saudi Government International Bond, 3.75%, 1/21/55 | 423,740 |
| 683,241 | ||
| Serbia — 1.44% | ||
| 135,000(c) | Serbia International Bond, 1.65%, 3/3/33 | 156,439 |
| 200,000(c) | Serbia International Bond, 3.13%, 5/15/27 | 263,533 |
| 419,972 | ||
| South Africa — 1.54% | ||
| 200,000 | Republic of South Africa Government International Bond, 4.85%, 9/30/29 | 212,508 |
| 250,000 | Republic of South Africa Government International Bond, 5.00%, 10/12/46 | 237,701 |
| 450,209 | ||
| Sri Lanka — 0.58% | ||
| 270,000 | Sri Lanka Government International Bond, 6.83%, 7/18/26 | 170,235 |
| Tajikistan — 0.63% | ||
| 200,000 | Republic of Tajikistan International Bond, 7.13%, 9/14/27 | 184,650 |
| Principal Amount | Value | |
| Trinidad & Tobago — 1.45% | ||
| $400,000 | Trinidad & Tobago Government International Bond, 4.50%, 8/4/26 | $424,400 |
| Tunisia — 1.78% | ||
| 300,000(c) | Banque Centrale de Tunisie International Bond, 5.63%, 2/17/24 | 331,803 |
| 200,000 | Banque Centrale de Tunisie International Bond, 5.75%, 1/30/25 | 187,153 |
| 518,956 | ||
| Turkey — 4.74% | ||
| 200,000 | Istanbul Metropolitan Municipality, 6.38%, 12/9/25 | 200,746 |
| 640,000 | Turkey Government International Bond, 4.88%, 4/16/43 | 509,869 |
| 400,000 | Turkey Government International Bond, 5.75%, 5/11/47 | 342,177 |
| 340,000 | Turkey Government International Bond, 5.95%, 1/15/31 | 333,428 |
| 1,386,220 | ||
| Ukraine — 1.77% | ||
| 435,000 | Ukraine Government International Bond, 1.26%, 5/31/40(d) | 517,215 |
| United Arab Emirates — 3.47% | ||
| 250,000 | Abu Dhabi Government International Bond, 3.13%, 9/30/49 | 255,743 |
| 360,000 | Finance Department Government of Sharjah, 3.63%, 3/10/33 | 363,287 |
| 430,000 | Finance Department Government of Sharjah, 4.00%, 7/28/50 | 394,660 |
| 1,013,690 | ||
| Uruguay — 1.03% | ||
| 232,599 | Uruguay Government International Bond, 4.98%, 4/20/55 | 300,937 |
| Venezuela — 0.11% | ||
| 85,000 | Venezuela Government International Bond, 7.75%, 10/13/19(b) | 8,500 |
| 73,800 | Venezuela Government International Bond, 8.25%, 10/13/24(b) | 7,380 |
| 170,000 | Venezuela Government International Bond, 11.75%, 10/21/26(b) | 17,000 |
| 32,880 | ||
| Zambia — 0.52% | ||
| 240,000 | Zambia Government International Bond, 5.38%, 9/20/22 | 151,728 |
| Total Foreign Government Bonds | 18,701,906 | |
| (Cost $18,769,349) | ||
| Corporate Bonds — 33.89% | ||
| Argentina — 1.45% | ||
| 115,000 | YPF SA, 8.50%, 3/23/25 | 102,781 |
| 120,000 | YPF SA, 8.50%, 7/28/25 | 94,980 |
| 254,000 | YPF SA, 8.75%, 4/4/24 | 226,060 |
| 423,821 | ||
| Principal Amount | Value | |
| Brazil — 2.66% | ||
| $200,000 | Cemig Geracao e Transmissao SA, 9.25%, 12/5/24 | $230,642 |
| 186,754 | MV24 Capital BV, 6.75%, 6/1/34 | 206,830 |
| 300,000 | Petrobras Global Finance BV, 6.85%, 6/5/2115 | 340,500 |
| 777,972 | ||
| China — 1.17% | ||
| 400,000 | China Evergrande Group, 9.50%, 4/11/22 | 341,280 |
| Colombia — 0.92% | ||
| 250,000 | Ecopetrol SA, 5.88%, 5/28/45 | 267,563 |
| Ecuador — 0.28% | ||
| 82,827 | Petroamazonas EP, 4.63%, 12/6/21 | 82,454 |
| Indonesia — 0.81% | ||
| 200,000 | Indonesia Asahan Aluminium Persero PT, 5.80%, 5/15/50 | 237,221 |
| Malaysia — 0.84% | ||
| 200,000 | Petronas Capital Ltd., 4.55%, 4/21/50 | 246,520 |
| Mexico — 8.88% | ||
| 200,000 | Mexico City Airport Trust, 3.88%, 4/30/28 | 210,577 |
| 200,000 | Mexico City Airport Trust, 5.50%, 7/31/47 | 202,263 |
| 75,000 | Petroleos Mexicanos, 5.35%, 2/12/28 | 73,776 |
| 600,000 | Petroleos Mexicanos, 5.63%, 1/23/46 | 490,590 |
| 200,000 | Petroleos Mexicanos, 5.95%, 1/28/31 | 194,300 |
| 446,000 | Petroleos Mexicanos, 6.35%, 2/12/48 | 381,107 |
| 145,000 | Petroleos Mexicanos, 6.50%, 3/13/27 | 153,047 |
| 375,000 | Petroleos Mexicanos, 6.84%, 1/23/30 | 386,844 |
| 175,000 | Petroleos Mexicanos, 6.88%, 8/4/26 | 190,619 |
| 6,500,000(e) | Petroleos Mexicanos, 7.19%, 9/12/24 | 310,434 |
| 2,593,557 | ||
| Oman — 0.69% | ||
| 200,000 | OQ SAOC, 5.13%, 5/6/28 | 201,350 |
| Paraguay — 0.72% | ||
| 200,000 | Telefonica Celular del Paraguay SA, 5.88%, 4/15/27 | 210,700 |
| Peru — 1.08% | ||
| 320,000 | InRetail Consumer, 3.25%, 3/22/28 | 316,384 |
| Principal Amount | Value | |
| Qatar — 1.50% | ||
| $220,000 | Qatar Petroleum, 3.13%, 7/12/41(f) | $219,188 |
| 220,000 | Qatar Petroleum, 3.30%, 7/12/51(f) | 220,000 |
| 439,188 | ||
| Saudi Arabia — 1.43% | ||
| 220,000 | SA Global Sukuk Ltd., 2.69%, 6/17/31(f) | 222,860 |
| 200,000 | Saudi Arabian Oil Co., 3.50%, 11/24/70 | 195,027 |
| 417,887 | ||
| South Africa — 1.68% | ||
| 275,000 | Sasol Financing USA LLC, 5.50%, 3/18/31 | 290,262 |
| 200,000 | Stillwater Mining Co., 6.13%, 6/27/22 | 200,520 |
| 490,782 | ||
| Trinidad & Tobago — 0.70% | ||
| 200,000 | Trinidad Generation UnLtd, 5.25%, 11/4/27 | 205,720 |
| Turkey — 0.96% | ||
| 280,000 | Hazine Mustesarligi Varlik Kiralama AS, 5.13%, 6/22/26 | 279,785 |
| United Arab Emirates — 6.92% | ||
| 200,000 | DP World Salaam, (5 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 5.75%), 6.00%, (g),(h) | 220,163 |
| 520,000 | Galaxy Pipeline Assets Bidco Ltd., 2.16%, 3/31/34 | 511,075 |
| 660,000 | Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40 | 655,092 |
| 200,000 | MDGH - GMTN BV, GMTN, 2.88%, 5/21/30 | 209,661 |
| 200,000 | MDGH - GMTN BV, 3.70%, 11/7/49 | 219,172 |
| 200,000 | Sharjah Sukuk Program Ltd., 2.94%, 6/10/27 | 206,992 |
| 2,022,155 | ||
| United States — 0.99% | ||
| 400,000 | Rutas 2 and 7 Finance Ltd., 0.00%, 9/30/36(a) | 289,200 |
| Venezuela — 0.21% | ||
| 173,584 | Petroleos de Venezuela SA, 6.00%, 11/15/26(b) | 7,377 |
| 260,000 | Petroleos de Venezuela SA, 8.50%, 10/27/20(b) | 52,325 |
| 59,702 | ||
| Total Corporate Bonds | 9,903,241 | |
| (Cost $9,876,953) | ||
| Contracts | ||
| Put Option Purchased — 0.02% | ||
| 910,000 | EUR-USD SWAP, Strike Price USD 1.18%, Expires 8/19/21, Notional Amount $1,073,800 | 6,554 |
| Total Put Option Purchased | 6,554 | |
| (Cost $6,042) | ||
| Shares | Value | |
| Investment Company — 0.73% | ||
| 214,987 | U.S. Government Money Market Fund, RBC Institutional Class 1 (i) | $214,987 |
| Total Investment Company | 214,987 | |
| (Cost $214,987) | ||
| Total Investments | $28,826,688 | |
| (Cost $28,867,331) — 98.64% | ||
| Other assets in excess of liabilities — 1.36% | 396,395 | |
| NET ASSETS — 100.00% | $29,223,083 | |
| (a) | Zero Coupon Bond. The rate represents the yield at time of purchase. |
| (b) | Issuer filed for bankruptcy and/or is in default of interest payments. |
| (c) | Principal amount denoted in Euros. |
| (d) | Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (e) | Investment in non-U.S. Dollars. Principal amount reflects local currency. |
| (f) | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
| (g) | Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating. |
| (h) | Perpetual security with no stated maturity date. |
| (i) | Affiliated investment. |
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Value/Unrealized Appreciation (Depreciation) | ||||||
| USD | 1,645,344 | EUR | 1,361,000 | Citibank N.A. | 8/18/21 | $29,935 | ||||
| USD | 171,337 | EUR | 140,000 | Citibank N.A. | 8/18/21 | 5,167 | ||||
| USD | 134,052 | EUR | 110,000 | Citibank N.A. | 8/18/21 | 3,490 | ||||
| OMR | 19,334 | USD | 50,000 | HSBC Bank Plc | 10/20/21 | 151 | ||||
| $38,743 | ||||||||||
| EUR | 50,000 | USD | 60,720 | Citibank N.A. | 8/18/21 | $(1,374) | ||||
| KRW | 305,004,447 | USD | 271,115 | Citibank N.A. | 8/18/21 | (1,254) | ||||
| USD | 269,269 | KRW | 305,004,447 | Citibank N.A. | 8/18/21 | (592) | ||||
| USD | 72,515 | MXN | 1,479,814 | Citibank N.A. | 8/18/21 | (1,276) | ||||
| USD | 72,331 | MXN | 1,479,814 | Citibank N.A. | 8/18/21 | (1,460) | ||||
| USD | 73,496 | MXN | 1,479,814 | Citibank N.A. | 8/18/21 | (295) | ||||
| USD | 72,507 | MXN | 1,479,814 | Citibank N.A. | 8/18/21 | (1,284) | ||||
| USD | 672,306 | OMR | 263,275 | HSBC Bank Plc | 10/20/21 | (10,601) | ||||
| $(18,136) | ||||||||||
| Total | $20,607 | |||||||||
| Short Position | Number of Contracts | Expiration Date | Value/Unrealized Depreciation | Notional Value | Clearinghouse | ||||||
| 10 Year Euro-Bund | 3 | September 2021 | $(3,471) | EUR | $614,017 | Citigroup Global Markets Inc. | |||||
| 10 Year U.S. Ultra Treasury Bond | 5 | September 2021 | (12,261) | USD | 736,016 | Citigroup Global Markets Inc. | |||||
| 30 Year Euro-Buxl | 1 | September 2021 | (3,689) | EUR | 240,992 | Citigroup Global Markets Inc. | |||||
| 30 Year U.S. Ultra Treasury Bond | 1 | September 2021 | (2,908) | USD | 192,688 | Citigroup Global Markets Inc. | |||||
| Ten Year U.S. Treasury Note | 3 | September 2021 | (2,859) | USD | 397,500 | Citigroup Global Markets Inc. | |||||
| Total | $(25,188) | ||||||||||
| Fixed Rate | Floating Rate | Payment Frequency | Counterparty | Expiration Date | Notional Amount (000) | Value/Unrealized Appreciation (Depreciation) | |||||||
| 2.75% | CNY-CITILDN | Expiration | Citigroup Global Markets Inc. | 8/18/26 | CNY | 4,110 | $(1,299) | ||||||
| 6.98% | CME-SWAPIRS-MXN | Expiration | Citigroup Global Markets Inc. | 8/6/31 | MXN | 5,919 | (1,601) | ||||||
| $(2,900) | |||||||||||||
| Total | $(2,900) | ||||||||||||
| Fixed Rate | Issuer | Payment Frequency | Counterparty | Expiration Date | Notional Amount (000) | Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | Value | |||||||||
| 1.00% | Russian Foreign Bond - Eurobond | Quarterly | Morgan Stanley & Co. International plc | 6/20/26 | USD | 820 | $540 | $(7,447) | $(6,907) | ||||||||
| 1.00% | Turkey Government International Bond | Quarterly | Citigroup Global Markets Limited | 6/20/26 | USD | 234 | 38,783 | (9,626) | 29,157 | ||||||||
| 1.00% | Turkey Government International Bond | Quarterly | Citigroup Global Markets Limited | 6/20/23 | USD | 71 | 4,567 | (1,561) | 3,006 | ||||||||
| 1.00% | Turkey Government International Bond | Quarterly | Citigroup Global Markets Limited | 6/20/23 | USD | 76 | 4,889 | (1,671) | 3,218 | ||||||||
| 1.00% | Turkey Government International Bond | Quarterly | HSBC Bank plc | 6/20/23 | USD | 670 | 46,641 | (18,273) | 28,368 | ||||||||
| 1.00% | Turkey Government International Bond | Quarterly | Citigroup Global Markets Limited | 6/22/26 | USD | 270 | 41,215 | (7,573) | 33,642 | ||||||||
| Fixed Rate | Issuer | Payment Frequency | Counterparty | Expiration Date | Notional Amount (000) | Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | Value | |||||||||
| 1.00% | Turkey Government International Bond | Quarterly | HSBC Bank plc | 6/20/23 | USD | 590 | 24,580 | 400 | 24,981 | ||||||||
| 1.00% | Turkey Government International Bond | Quarterly | HSBC Bank plc | 6/20/23 | USD | 125 | 5,739 | (446) | 5,292 | ||||||||
| Total | $166,954 | $(46,197) | $120,757 | ||||||||||||||
| Abbreviations used are defined below: |
| CNY - China Yuan |
| EMTN - Euro Medium Term Note |
| EUR - Euro |
| GMTN - Global Medium Term Note |
| KRW - South Korean Won |
| MXN - Mexican Peso |
| OMR - Omani Rial |
| USD - United States Dollar |
| Industries | Percentage of Net Assets | |
| Foreign Government Bonds | 64.00% | |
| Energy | 19.94% | |
| Industrial | 3.11% | |
| Financial | 2.64% | |
| Basic Materials | 2.49% | |
| Government | 1.67% | |
| Utilities | 1.49% | |
| Consumer, Cyclical | 1.08% | |
| Consumer, Non-cyclical | 0.75% | |
| Communications | 0.72% | |
| Other* | 2.11% | |
| 100.00% | ||
| * Includes cash, Investment Company, interest and dividend receivable, pending trades and Fund share transactions, interest rate swaps, credit default swaps, financial futures contracts, options, foreign currency exchange contracts and accrued expenses payable. |