Past performance is not a reliable indicator of future performance.
Strategy
Global Multi-Sector Bond
The Global Multi-Sector Bond Composite seeks high income and some capital appreciation primarily through investment in sectors and securities within the Bloomberg Barclays Global Aggregate Bond USD Hedged Index. The strategy may also invest in bank loans, non-agency MBS, and convertible bonds.
3YR Return Annualised (Net)
(View Total Returns)
Tracking Error
(5 Years)
7.07%
4.60%
Data as of 30-Jun-2021
Data as of 30-Jun-2021
1YR Return (Net)
(View Total Returns)
Information Ratio
(5 Years)
8.55%
0.54
Data as of 30-Jun-2021
Data as of 30-Jun-2021
Inception Date 31-Dec-2008
Performance figures calculated in USD
Other Literature
- This product's strategy also available as
- a US Mutual Fund
- and a SICAV
Strategy
Investment Approach
- Designed to generate alpha through effective combination of top-down sector allocation, currency positioning, and interest rate management with high-conviction, bottom-up security selection from our specialized global research platform.
- Flexible investment mandate seeks to increase the potential for excess return in a diversified, multi-sector portfolio by tactically allocating across a global opportunity set of 15 sectors, including below-investment grade and non-U.S. dollar-denominated securities.
- Actively diversify risk across both quantitative risk factors and qualitative investment themes
- Our Global Multi-Sector Bond Strategy offers flexibility to incorporate a wide range of strategy designs and customized benchmarks, including both total return and flexible duration mandates.
Portfolio Construction
- Base strategy target tracking error range: 200-500 basis points
- Up to 50% of assets may be unhedged to exploit currency valuation opportunities Profile can be tailored to specific client risk tolerances
- Benchmark Details:
- Base strategy: Bloomberg Barclays Global Aggregate USD Hedged Index
- Ability to create custom benchmarks in a variety of base currencies and flexible duration mandates
Performance
Global Multi-Sector Bond Composite
Annualised Performance
Quarterly| 1 YR | 3 YR Annualised |
5 YR Annualised |
10 YR Annualised |
|
|---|---|---|---|---|
| Composite Gross % | 8.96% | 7.47% | 5.83% | 5.39% |
| Composite Net % | 8.55% | 7.07% | 5.43% | 5.00% |
| Benchmark % | 0.08% | 4.63% | 3.33% | 3.88% |
| Excess Return (Gross) % | 8.88% | 2.84% | 2.50% | 1.51% |
Recent Performance
| 3 MonthsData as of 30-Jun-2021 | Year to DateData as of 30-Jun-2021 | |
|---|---|---|
| Composite Gross % | 1.57% | 0.85% |
| Composite Net % | 1.47% | 0.66% |
| Benchmark % | 0.98% | -1.52% |
| Excess Return (Gross) % | 0.59% | 2.37% |
Past performance is not a reliable indicator of future performance.
Returns for time periods greater than one year are annualised.
Gross performance returns are presented before management and all other fees, where applicable, but after trading expenses. Net of fees performance reflects the deduction of the highest applicable management fee that would be charged based on the fee schedule contained within this material, without the benefit of breakpoints. Gross and net performance returns reflect the reinvestment of dividends and are net of all non-reclaimable withholding taxes on dividends, interest income, and capital gains.
Effective 1 October 2018, the benchmark for the composite was changed to Bloomberg Global Aggregate USD Hedged Index. Prior to this change the benchmark was Bloomberg Multiverse USD Hedged Index effective 1 February 2017 through 30 September 2018 and Bloomberg Global Aggregate ex Treasury Bond USD Hedged Index effective since composite inception through 31 January 2017. The change was made because the firm viewed the new benchmark to be a better representation of the investment strategy of the composite. Historical benchmark representations have not been restated.
Holdings
Holdings
Total
Holdings
552
Largest Holding
United Kingdom Gilt
2.74%
Was
(31-Mar-2021) 3.04%
Top 10 Holdings 19.37%
Quality Rating View quality analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Quality Rating | BB | A |
| By % | 20.18% | -12.44% |
| Portfolio | 20.45% | 8.73% |
| Benchmark | 0.27% | 21.17% |
Average Credit Quality
BBB+Maturity View maturity analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Maturity | 0-1 Years | 1-3 Years |
| By % | 17.55% | -16.92% |
| Portfolio | 17.55% | 4.25% |
| Benchmark | 0.00% | 21.17% |
Weighted Average Maturity
6.84 YearsDuration View duration analysis
| Largest Overweight | Largest Underweight | |
|---|---|---|
| Duration | Under 1 Year | Over 10 Years |
| By % | 30.33% | -18.35% |
| Portfolio | 30.65% | 4.77% |
| Benchmark | 0.33% | 23.12% |
Weighted Average Duration
5.16 YearsSectors
Total
Sectors
7
Largest Sector Global Sovereign 46.76%
Was (31-Mar-2021)
45.06%
Other
View complete Sector Diversification
Largest Overweight
Securitized
By12.03%
Portfolio
14.98%
Benchmark
2.95%
Largest Underweight
Global Sovereign
By-21.11%
Portfolio
46.76%
Benchmark
67.87%
Currency
Total
Currencies
25
Largest Currency
82.93%
Was (31-Mar-2021)
91.45%
Other
View completeCurrency Diversification
Largest Overweight
U.S. dollar
By
40.90%
Portfolio
82.93%
Benchmark
42.03%
Largest Underweight
euro
By
-18.58%
Portfolio
4.91%
Benchmark
23.49%
Team (As of 10-Sep-2021)
Kenneth Orchard is a senior portfolio manager in the Fixed Income Division and a member of the Global Fixed Income Investment team. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Kenneth has been with T. Rowe Price since 2010, initially as a sovereign analyst and with responsibility for the European macro outlook and then joining the global fixed income portfolio management team in 2013. He is currently the portfolio manager for the Global Multi-Sector Bond and Diversified Income Bond Strategies and co-portfolio manager for the International Bond Strategies. He also is the cochair of the fixed income Sector Strategy Advisory Group and a member of the European and UK Asset Allocation Committees. Kenneth’s investment experience began in 1998 at HSBC Asset Management in Canada. Following a period at Emerging Markets Economics as a consulting economist, he was employed by Moody’s Investors Service as a senior credit officer in the sovereign group, and he was involved in designing and improving aspects of the sovereign rating methodology.
Kenneth earned a B.A. in international relations from the University of British Columbia and an M.Sc. in public financial policy from the London School of Economics. Kenneth also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2018
since - Years at10
T. Rowe Price - Years investment17
experience
Keir Joyce is a portfolio manager in the Fixed Income Division. He manages the US GNMA Bond Strategy and the Mortgage-Backed Securities Multi-Sector Account Portfolio. He is president of the GNMA Fund and executive vice president of the Mortgage-Backed Securities Multi-Sector Account Portfolio and chairman of their respective Investment Advisory Committees. In addition, Keir is a vice president and an Investment Advisory Committee member for the New Income, Short-Term Bond, Inflation Protected Bond, Limited Duration Inflation Focused Bond, and Global Multi-Sector Bond Funds; a vice president of the Fixed Income Series, Ultra Short-Term Bond Fund, and U.S. Treasury Funds; and an Investment Advisory Committee member for the Limited-Term Bond Portfolio, U.S. Treasury Intermediate Index Fund, and U.S. Treasury Long-Term Index Fund. Keir is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Keir’s investment experience began in 1998, and he has been with T. Rowe Price since 2001, beginning in the Fixed Income Division as a mortgage-backed securities trader. After that, he was an associate portfolio manager on the U.S. Taxable Bond team before advancing to his current role. Prior to T. Rowe Price, Keir was employed by State Street Global Advisors as a fixed income investment associate and by Lehman Brothers as an institutional money markets sales assistant.
Keir earned a B.A. in business administration from Franklin & Marshall College and an M.B.A. from the University of Maryland, Robert H. Smith School of Business. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2008
since - Years at20
T. Rowe Price - Years investment23
experience
Sue Troll is a sector portfolio manager of securitized products in the Fixed Income Division. She is a vice president and Investment Advisory Committee member for the Inflation Protected Bond, Limited Duration Inflation Focused Bond, New Income, and Global Multi-Sector Bond Funds; a vice president of the Short-Term Bond Fund and the Fixed Income Series; and an Investment Advisory Committee member for the Short-Term Bond and Short Duration Income Funds and the Limited-Term Bond Portfolio. Sue also is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Sue’s investment experience began in 1994, and she has been with T. Rowe Price since 1998, beginning in the Fixed Income Division as a credit analyst and team leader for the Securitized Products team, as well as a member of the Fixed Income Research Advisory Council. Prior to this, Sue was employed by Merrill Lynch Asset Management as a vice president, responsible for asset-backed research.
Sue earned a B.S. in accounting from Drexel University. She is a certified public accountant.
- Portfolio manager2013
since - Years at23
T. Rowe Price - Years investment23
experience
Howard Woodward is a portfolio manager and analyst in the Fixed Income Division in London. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Howard’s investment experience began in 2000 when he joined T. Rowe Price, beginning in the Fixed Income Division. Prior to this, Howard was employed by Baring Asset Management as an analyst.
Howard earned a B.Sc. in economics and accounting from Bristol University. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2008
since - Years at
T. Rowe Price - Years investment
experience
Michael Connelly is a portfolio manager in the Fixed Income Division, co-managing the Global High Income Bond Strategy. He also contributes to the U.S. Core, U.S. Core Plus, and Global Multi-Sector Bond Strategies. He is a cochairman of the Investment Advisory Committee for the Global High Income Bond Fund and a member of the Sector Strategy Advisory Group. Michael is a vice president of T. Rowe Price Associates, Inc., and T. Rowe Price Group, Inc.
Michael’s investment experience began in 1999, and he has been with T. Rowe Price since 2005, beginning in the Fixed Income Division as a high yield credit analyst. After that, he became an associate portfolio manager. Prior to this, Michael was an equity research analyst for Robert W. Baird & Co., Inc., in Milwaukee, Wisconsin.
Michael earned a B.B.A. in finance and marketing from Marquette University and an M.S. in finance from the University of Wisconsin, Madison. Michael also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2018
since - Years at16
T. Rowe Price - Years investment22
experience
Samy Muaddi is a portfolio manager in the International Fixed Income Division. He is the portfolio manager of the Emerging Markets Bond Strategy and co-manages the Emerging Markets Corporate Bond and Global High Income Bond Strategies. He previously managed the firm’s Asia Credit Bond Strategy from its inception until 2020. Samy also is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price International Ltd.
Samy has been with T. Rowe Price since 2006, beginning as an associate analyst in the Fixed Income Division. After that, he was a credit analyst and then an associate portfolio manager on the Emerging Markets team before assuming his current role.
Samy earned a B.A., summa cum laude, in economics from the University of Maryland. He also has earned the Chartered Financial Analyst® designation. Samy is an adjunct professor at Georgetown University in the Walsh Graduate School of Foreign Service.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2018
since - Years at15
T. Rowe Price - Years investment15
experience
Michael Conelius is a senior advisor for sovereign distressed debt in the Fixed Income Division. He is a vice president of the International and Global Funds and the Multi-Sector Account Portfolios. Michael is a member of the Distressed Advisory Committee. He is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company, Ltd.
Michael has been with T. Rowe Price since 1988, beginning as a financial analyst in the Corporate Finance department. After that, he was a credit analyst and then portfolio manager on the Emerging Markets team before assuming his current role. Prior to T. Rowe Price, he was employed by Booz Allen Hamilton as a consultant.
Michael earned a B.S. in finance from Towson University and an M.S. in finance from Loyola University Maryland. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Portfolio manager2018
since - Years at33
T. Rowe Price - Years investment27
experience
Terry Moore is a portfolio specialist in the Fixed Income Division. He is a member of the Global Multi-Sector, Dynamic Global Bond, International Bond, and Customized Fixed Income Solutions teams, working closely with clients, consultants, and prospects. Terry is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.
Terry’s investment experience began in 1994, and he has been with T. Rowe Price since 2009, beginning in the Fixed Income Division. Prior to this, Terry was employed by Smith Breeden Associates as a portfolio manager and principal, where he led the Financial Institutions Group and managed fixed income portfolios with a focus on residential mortgage-backed securities. He also was employed by Goldman Sachs & Co., where he traded asset-backed securities.
Terry earned a B.A. in economics and political science from the University of North Carolina, Chapel Hill and an M.B.A. from Duke University, The Fuqua School of Business, where he was a Fuqua Scholar. He also has earned the Chartered Financial Analyst® designation.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
- Years at11
T. Rowe Price - Years investment25
experience
Portfolio Characteristics
Representative Portfolio vs Benchmarkas of 30-Jun-2021
| Characteristic | Portfolio | Benchmark |
|---|---|---|
| Weighted Average Coupon | 3.70% | 2.38% |
| Weighted Average Maturity | 6.84 Years | 9.07 Years |
| Weighted Average Duration | 5.16 Years | 7.39 Years |
| Number of Holdings | 552 | 27,196 |
Risks
- ABS/MBS risk
- Contingent convertible bond risk
- Credit risk
- Currency risk
- Default risk
- Derivatives risk
- Emerging markets risk
- High yield bond risk
- Interest rate risk
- Issuer concentration risk
- Liquidity risk
- Prepayment and extension risk
- Sector concentration risk
- Capital risk
- Counterparty risk
- ESG and Sustainability risk
- Geographic concentration risk
- Hedging risk
- Investment portfolio risk
- Management risk
- Operational risk
Risk/Return Characteristics
as of 30-Jun-2021Global Multi-Sector Bond Composite
| Risk/Return (5 Years) | Composite | Benchmark |
|---|---|---|
| Alpha | 1.86% | 0.00% |
| Beta | 1.31 | 1.00 |
| R-Squared | 0.38 | 1.00 |
| Annualized Std. Deviation | 5.66% | 2.72% |
| Information Ratio | 0.54 | 0.00 |
| Sharpe Ratio | 0.82 | 0.80 |
| Tracking Error | 4.60% | 0.00% |
Past performance is not a reliable indicator of future performance.
Figures are calculated using monthly data and are gross of fees. Returns would have been lower as a result of the deduction of applicable fees.
Effective 1 October 2018, the benchmark for the composite was changed to Bloomberg Global Aggregate USD Hedged Index. Prior to this change the benchmark was Bloomberg Multiverse USD Hedged Index effective 1 February 2017 through 30 September 2018 and Bloomberg Global Aggregate ex Treasury Bond USD Hedged Index effective since composite inception through 31 January 2017. The change was made because the firm viewed the new benchmark to be a better representation of the investment strategy of the composite. Historical benchmark representations have not been restated.
Calendar Year Performance
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.63% | 11.66% | 0.97% | 4.98% | 0.70% | 7.62% | 7.26% | 0.83% | 11.18% | 8.70% | Composite Gross | |
| 2.25% | 11.25% | 0.59% | 4.59% | 0.32% | 7.22% | 6.86% | 0.45% | 10.77% | 8.30% | Composite Net | |
| 5.25% | 7.18% | -0.38% | 6.94% | 0.58% | 4.09% | 3.69% | 1.78% | 8.22% | 5.58% | Benchmark | |
| -3.00% | 4.07% | 0.97% | -2.35% | -0.26% | 3.13% | 3.17% | -1.33% | 2.55% | 2.72% | Value added (Gross) |
- Composite Gross
- Composite Net
- Benchmark
Effective 1 October 2018, the benchmark for the composite was changed to Bloomberg Global Aggregate USD Hedged Index. Prior to this change the benchmark was Bloomberg Multiverse USD Hedged Index effective 1 February 2017 through 30 September 2018 and Bloomberg Global Aggregate ex Treasury Bond USD Hedged Index effective since composite inception through 31 January 2017. The change was made because the firm viewed the new benchmark to be a better representation of the investment strategy of the composite. Historical benchmark representations have not been restated.
Top 10 Issuers (30-Jun-2021)
| Issuer Name | % of Portfolio | Sector | Industry | Country |
|---|---|---|---|---|
| People's Republic of China | 3.76% | N/A | N/A | N/A |
| United Kingdom of Great Britain and Northern Ireland | 2.97% | N/A | N/A | N/A |
| China Development Bank | 2.64% | N/A | N/A | N/A |
| Republic of Chile | 2.22% | N/A | N/A | N/A |
| Republic of South Africa | 1.71% | N/A | N/A | N/A |
| Federal Republic of Germany | 1.70% | N/A | N/A | N/A |
| Commonwealth of Australia | 1.35% | N/A | N/A | N/A |
| Republic Of Serbia | 1.29% | N/A | N/A | N/A |
| Romania | 1.27% | N/A | N/A | N/A |
| Republic of Cyprus | 1.24% | N/A | N/A | N/A |
Represents 20.15% of Total Net Assets of the representative portfolio
Issuers are as of the date indicated and are subject to change.
The total of the values in the second column in the table may not add up to the Top 10% of Total Net Assets quoted directly below the table due to rounding.
N/A indicates Not Available.
Quality (30-Jun-2021)
Representative Portfolio vs Benchmark
| Quality Rating | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| US Government Agency Securities | 7.75% | 10.71% | |
| US Treasury | 6.86% | 14.35% | |
| AAA | 5.04% | 11.53% | |
| AA | 5.49% | 14.31% | |
| A | 8.73% | 21.17% | |
| BBB | 17.73% | 16.01% | |
| BB | 20.45% | 0.27% | |
| B | 9.07% | 0.00% | |
| CCC | 0.79% | 0.00% | |
| CC | 0.48% | 0.00% | |
| Not Rated | 18.12% | 11.65% | |
| Reserves | -0.52% | 0.00% | |
| D | 0.01% | 0.00% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Sources for Credit Quality: Moody’s Investors Service; if Moody’s does not rate a security, then Standard & Poor’s (S&P) is used as a secondary source. When available, T. Rowe Price will use Fitch for securities that are not rated by Moody’s or S&P. T. Rowe Price does not evaluate these ratings but simply assigns them to the appropriate credit quality category as determined by the rating agency. T. Rowe Price uses the rating of the underlying investment vehicle for credit default swaps.
U.S. government agency securities are issued or guaranteed by a U.S. government agency and may include conventional pass-through securities and collateralized mortgage obligations. Unlike Treasuries, government agency securities are not issued directly by the U.S. government and are generally unrated but may have credit support from the U.S. Treasury (e.g., FHLMC and FNMA issues) or a direct government guarantee (e.g., GNMA issues). Therefore, this category may include rated and unrated securities.
U.S. Treasury securities are issued by the U.S. Treasury and are backed by the full faith and credit of the U.S. government. The ratings of U.S. Treasury securities are derived from the ratings on the U.S. government.
Maturity (30-Jun-2021)
Representative Portfolio vs Benchmark
| Bond Maturity | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| 0-1 Years | 17.55% | 0.00% | |
| 1-3 Years | 4.25% | 21.17% | |
| 3-5 Years | 17.07% | 21.76% | |
| 5-7 Years | 19.62% | 15.66% | |
| 7-10 Years | 26.13% | 16.29% | |
| 10+ Years | 15.39% | 25.13% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Duration (30-Jun-2021)
Representative Portfolio vs Benchmark
| Duration | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Under 1 Year | 30.65% | 0.33% | |
| 1-3 Years | 7.67% | 23.90% | |
| 3-5 Years | 20.15% | 23.61% | |
| 5-7 Years | 18.48% | 15.89% | |
| 7-10 Years | 18.29% | 13.16% | |
| Over 10 Years | 4.77% | 23.12% |
Duration is a measure of a bond portfolio's sensitivity to interest rate changes.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Holdings (30-Jun-2021)
| Company | % of Portfolio | Previous Qtr Change | Value (USD) | Shares/Par | Sector | Industry | Country | Coupon Rate (%) | Quality | Maturity Date | Duration (Yrs) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United Kingdom Gilt | 2.74% | -0.30 | $46,040,994.82 | 24,296,000 | Government | Foreign Govt & Muni (Excl Canadian) | United Kingdom | 4.75% | Aa3 | 07-Dec-2030 | 8.04 |
| U.S. Treasury Bonds | 2.57% | 0.00 | $43,172,461.46 | 44,272,000 | US Govt & Agencies | U S Treasury Obligations | United States | 1.13% | Aaa | 15-Feb-2031 | 9.20 |
| China Government Bond | 2.46% | -0.23 | $41,255,284.21 | 260,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.12% | NR | 05-Dec-2026 | 4.95 |
| Bonos de la Tesoreria de la Republica en pesos | 2.22% | -0.28 | $37,222,758.88 | 26,655,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Chile | 4.70% | NR | 01-Sep-2030 | 7.28 |
| Invesco Senior Loan ETF | 1.98% | N/A | $33,225,000.00 | 1,500,000 | Corporate Securities | Investment Companies - Bonds | United States | N/A | N/A | N/A | 0.87 |
| U.S. Treasury Inflation Indexed Bonds | 1.91% | 0.16 | $32,037,287.57 | 29,670,796 | US Govt & Agencies | U S Treasury Obligations | United States | 0.63% | Aaa | 15-Jan-2024 | 3.81 |
| Deutsche Bundesrepublik Inflation Linked Bond | 1.70% | N/A | $28,529,176.75 | 20,008,924 | Government | Foreign Govt & Muni (Excl Canadian) | Germany | 0.50% | Aaa | 15-Apr-2030 | 8.72 |
| Australia Government Bond | 1.35% | 0.06 | $22,744,686.95 | 26,272,000 | Government | Foreign Govt & Muni (Excl Canadian) | Australia | 3.00% | Aaa | 21-Mar-2047 | 19.02 |
| China development Bank | 1.31% | -0.12 | $22,085,193.92 | 140,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.43% | NR | 14-Jan-2027 | 5.01 |
| Serbia Treasury Bonds | 1.14% | 0.05 | $19,120,171.99 | 1,689,080,000 | Government | Foreign Govt & Muni (Excl Canadian) | Serbia | 4.50% | NR | 20-Aug-2032 | 8.74 |
| FNMA 30 YR TBA JUL | 1.11% | N/A | $18,628,417.84 | 17,995,000 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Jan-2044 | 4.90 |
| Israel Government Bond - Fixed | 1.07% | -0.53 | $18,050,370.13 | 36,610,000 | Government | Foreign Govt & Muni (Excl Canadian) | Israel | 5.50% | NR | 31-Jan-2042 | 14.16 |
| U.S. Treasury Inflation Indexed Bonds | 1.06% | 0.07 | $17,886,202.97 | 16,060,674 | US Govt & Agencies | U S Treasury Obligations | United States | 0.63% | Aaa | 15-Jan-2026 | 5.27 |
| Government National Mortgage Assn. | 1.02% | N/A | $17,175,556.15 | 16,575,000 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Jan-2043 | 3.83 |
| Cyprus Government International Bond | 0.86% | -0.09 | $14,466,995.89 | 10,363,000 | Government | Foreign Govt & Muni (Excl Canadian) | Cyprus | 2.38% | Ba2 | 25-Sep-2028 | 6.70 |
| Tobacco Settlement Financing Corp/VA | 0.83% | -0.14 | $13,970,577.32 | 13,230,000 | Tax-Free Revenue | Other Revenue | United States | 6.71% | B3 | 01-Jun-2046 | 5.05 |
| Republic of South Africa Government Bond | 0.78% | -0.01 | $13,035,881.28 | 163,209,000 | Government | Foreign Govt & Muni (Excl Canadian) | South Africa | 10.50% | Ba2 | 21-Dec-2026 | 4.31 |
| Malaysia Government Bond | 0.75% | -0.06 | $12,554,529.19 | 54,120,000 | Government | Foreign Govt & Muni (Excl Canadian) | Malaysia | 4.07% | NR | 15-Jun-2050 | 17.03 |
| FNMA 30 YR TBA JUL | 0.68% | N/A | $11,451,826.58 | 10,975,000 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Jan-2043 | 2.84 |
| Federal National Mortgage Assn. | 0.65% | N/A | $10,934,906.42 | 10,139,671 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Feb-2048 | 3.99 |
| 1MDB Global Investments | 0.64% | 0.20 | $10,733,337.83 | 10,500,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | Malaysia | 4.40% | NR | 09-Mar-2023 | 1.59 |
| Mexican Bonos | 0.62% | -0.05 | $10,423,339.21 | 187,805,000 | Government | Foreign Govt & Muni (Excl Canadian) | Mexico | 8.50% | Baa1 | 31-May-2029 | 5.78 |
| State of Illinois | 0.61% | -0.04 | $10,196,916.74 | 7,675,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 7.35% | Baa2 | 01-Jul-2035 | 6.08 |
| Thailand Government Bond | 0.60% | -0.02 | $10,080,212.99 | 347,890,000 | Government | Foreign Govt & Muni (Excl Canadian) | Thailand | 1.59% | NR | 17-Dec-2035 | 13.30 |
| Italy Buoni Poliennali del Tesoro | 0.60% | 0.01 | $10,060,383.24 | 7,860,502 | Government | Foreign Govt & Muni (Excl Canadian) | Italy | 0.65% | Baa3 | 15-May-2026 | 4.83 |
| Republic of South Africa Government Bond | 0.57% | N/A | $9,654,206.87 | 156,255,000 | Government | Foreign Govt & Muni (Excl Canadian) | South Africa | 7.00% | Ba2 | 28-Feb-2031 | 6.84 |
| Russian Federal Bond - ofZ | 0.57% | N/A | $9,538,246.67 | 620,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Russia | 8.50% | NR | 17-Sep-2031 | 6.85 |
| Brazil Notas do Tesouro Nacional Serie F | 0.55% | 0.02 | $9,189,303.83 | 41,396,000 | Government | Foreign Govt & Muni (Excl Canadian) | Brazil | 10.00% | Ba2 | 01-Jan-2025 | 2.94 |
| European Bank for Reconstruction & development | 0.54% | -0.05 | $9,138,492.46 | 123,500,000,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | SNAT (Supe Natl Wrld Global) | 6.25% | NR | 25-Jul-2022 | 0.99 |
| Qatar Petroleum | 0.53% | N/A | $8,897,048.30 | 8,930,000 | Corporate Securities | Energy | Qatar | 3.13% | Aa3 | 12-Jul-2041 | N/A |
| Canadian Government Real Return Bond | 0.52% | -0.02 | $8,747,180.79 | 7,369,488 | Government | Canadian Govts & Municipalities | Canada | 4.00% | Aaa | 01-Dec-2031 | 9.04 |
| U.S. Treasury Bonds | 0.51% | N/A | $8,625,721.82 | 8,477,000 | US Govt & Agencies | U S Treasury Obligations | United States | 1.63% | Aaa | 15-May-2031 | 9.24 |
| Government National Mortgage Assn. | 0.51% | N/A | $8,588,873.46 | 8,031,486 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Oct-2046 | 2.80 |
| Capital Projects Finance Authority/FL | 0.50% | -0.07 | $8,474,886.84 | 8,430,000 | Tax-Free Revenue | Housing Finance Revenue | United States | 4.00% | Baa3 | 01-Oct-2024 | 1.78 |
| Republic of Ghana Government Bonds | 0.49% | 0.02 | $8,252,923.22 | 42,005,000 | Government | Foreign Govt & Muni (Excl Canadian) | Ghana | 20.75% | NR | 16-Jan-2023 | 1.20 |
| ABJA Investment Co Pte | 0.49% | -0.00 | $8,252,222.96 | 7,450,000 | Corporate Securities | Metals & Mining | India | 5.95% | NR | 31-Jul-2024 | 2.76 |
| China development Bank | 0.48% | -0.04 | $8,047,894.37 | 50,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.50% | NR | 13-Aug-2026 | 4.58 |
| ZAXBY S FUNDING | 0.47% | N/A | $7,979,124.91 | 7,965,000 | Asst Backed Securities | Asset Backed Other | United States | 3.24% | NR | 30-Jul-2051 | 6.19 |
| BBVA Bancomer SA/Texas | 0.47% | 0.02 | $7,906,871.46 | 7,100,000 | Corporate Securities | Banking | Mexico | 5.88% | Baa3 | 13-Sep-2034 | 6.54 |
| VTR Comunicaciones | 0.47% | 0.03 | $7,906,607.62 | 7,800,000 | Corporate Securities | Cable Operators | Chile | 4.38% | Ba3 | 15-Apr-2029 | 5.15 |
| Bancolombia | 0.47% | -0.01 | $7,898,433.89 | 7,750,000 | Corporate Securities | Banking | Colombia | 4.63% | Ba3 | 18-Dec-2029 | 3.16 |
| China Government Bond | 0.46% | -0.05 | $7,766,468.73 | 50,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.13% | NR | 21-Nov-2029 | 7.35 |
| Standard Chartered | 0.45% | N/A | $7,637,826.41 | 7,205,000 | Corporate Securities | Banking | United Kingdom | 2.82% | A2 | 30-Jan-2026 | 3.39 |
| Cemex SAB de CV | 0.44% | -0.06 | $7,430,187.49 | 6,700,000 | Corporate Securities | Building Products | Mexico | 5.45% | NR | 19-Nov-2029 | 3.09 |
| Romanian Government International Bond | 0.44% | 0.01 | $7,425,970.39 | 5,390,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 3.62% | Baa3 | 26-May-2030 | 7.82 |
| FNMA 30 YR | 0.44% | N/A | $7,404,955.06 | 7,138,330 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Jan-2051 | 5.37 |
| HPS Loan Management 11-2017 | 0.42% | -0.05 | $7,122,915.04 | 7,190,000 | Asst Backed Securities | Coll Debt Obligation | United States | 2.13% | A2 | 06-May-2030 | 0.21 |
| Freddie Mac STACR REMIC Trust 2021-HQA1 | 0.42% | -0.04 | $7,089,577.30 | 6,995,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.27% | Ba1 | 25-Aug-2033 | 0.12 |
| Aes Andes | 0.42% | N/A | $6,998,912.79 | 6,325,000 | Corporate Securities | Utilities | Chile | 7.13% | Ba2 | 26-Mar-2079 | 2.44 |
| Tower Bersama Infrastructure | 0.42% | -0.04 | $6,973,366.68 | 6,800,000 | Corporate Securities | Wireless Communications | Indonesia | 2.75% | NR | 20-Jan-2026 | 4.21 |
| Benefit Street Partners CLO XI | 0.41% | -0.05 | $6,964,010.85 | 6,995,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.68% | Aa1 | 15-Apr-2029 | 0.17 |
| Dominican Republic International Bond | 0.41% | 0.02 | $6,955,268.30 | 6,795,000 | Government | Foreign Govt & Muni (Excl Canadian) | Dominican Republic | 5.30% | Ba3 | 21-Jan-2041 | 12.05 |
| Autostrade per l Italia | 0.40% | N/A | $6,657,757.84 | 5,340,000 | Corporate Securities | Transportation | Italy | 2.00% | Ba3 | 04-Dec-2028 | 6.79 |
| Romanian Government International Bond | 0.39% | -0.04 | $6,523,022.88 | 5,218,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 2.12% | Baa3 | 16-Jul-2031 | 8.99 |
| FNMA 30 YR TBA JUL | 0.39% | N/A | $6,509,689.42 | 6,105,000 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jan-2041 | 2.18 |
| Country Garden Holdings | 0.39% | -0.04 | $6,484,595.85 | 6,100,000 | Corporate Securities | Building & Real Estate | China | 4.80% | NR | 06-Aug-2030 | 5.64 |
| Adani Ports & Special Economic Zone | 0.39% | -0.04 | $6,477,533.92 | 6,050,000 | Corporate Securities | Transportation | India | 4.38% | Baa3 | 03-Jul-2029 | 6.70 |
| Acwa Power Management & Investments One | 0.38% | 0.05 | $6,314,340.20 | 5,294,329 | Corporate Securities | Energy | United Arab Emirates | 5.95% | Baa3 | 15-Dec-2039 | 7.08 |
| Navient Private Education Refi Loan Trust 2020-F | 0.38% | -0.03 | $6,300,409.84 | 6,090,000 | Asst Backed Securities | Student Loans | United States | 2.69% | NR | 15-Jul-2069 | 5.40 |
| China development Bank | 0.37% | -0.05 | $6,276,485.93 | 40,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.65% | NR | 21-May-2029 | 6.90 |
| China Government Bond | 0.37% | -0.04 | $6,138,084.91 | 40,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 2.85% | NR | 04-Jun-2027 | 5.47 |
| Great Wolf Trust 2019-WOLF | 0.36% | -0.03 | $6,042,644.37 | 6,150,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.20% | B3 | 15-Dec-2036 | 0.34 |
| FNMA 30 YR TBA JUL | 0.36% | N/A | $6,001,152.81 | 5,570,000 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jan-2035 | 2.52 |
| Montgomery County IDA/PA | 0.35% | -0.03 | $5,954,406.51 | 5,890,000 | Tax-Free Revenue | Life Care/Nursing Home Revenue | United States | 2.94% | NR | 15-Nov-2027 | 5.83 |
| Benefit Street Partners CLO IV | 0.35% | -0.04 | $5,889,872.42 | 5,885,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.74% | NR | 20-Jan-2032 | 0.19 |
| Brf | 0.34% | -0.03 | $5,792,378.18 | 5,400,000 | Corporate Securities | Food/Tobacco | Brazil | 4.88% | Ba2 | 24-Jan-2030 | 6.02 |
| Citigroup Commercial Mortgage Trust 2019-C7 | 0.34% | -0.03 | $5,743,542.53 | 6,110,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.92% | Ba3 | 15-Dec-2072 | 7.25 |
| Navient Private Education Refi Loan Trust 2020 | 0.33% | -0.03 | $5,477,449.39 | 5,390,000 | Asst Backed Securities | Student Loans | United States | 2.83% | NR | 15-Nov-2068 | 8.01 |
| Manila Water | 0.31% | -0.03 | $5,284,519.76 | 4,800,000 | Corporate Securities | Utilities | Philippines | 4.38% | NR | 30-Jul-2030 | 3.68 |
| Banco De Bogota | 0.30% | -0.03 | $5,081,089.60 | 4,725,000 | Corporate Securities | Banking | Colombia | 4.38% | Baa2 | 03-Aug-2027 | 5.21 |
| Hellenic Republic Government Bond | 0.30% | -0.03 | $5,048,494.53 | 4,285,000 | Government | Foreign Govt & Muni (Excl Canadian) | Greece | 0.75% | Ba3 | 18-Jun-2031 | 9.60 |
| Avis Budget Rental Car Funding AESOP | 0.30% | N/A | $5,005,906.05 | 5,000,000 | Asst Backed Securities | Auto Backed | United States | 3.34% | Ba2 | 20-Aug-2026 | 3.65 |
| Adler | 0.29% | -0.03 | $4,951,626.70 | 4,200,000 | Corporate Securities | Real Estate Investment Trust Securities | Germany | 1.50% | NR | 26-Jul-2024 | 2.88 |
| GNMA II TBA JUL | 0.29% | N/A | $4,937,840.35 | 4,725,000 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 01-Jan-2043 | 2.49 |
| Cyprus Government International Bond | 0.29% | 0.02 | $4,929,082.18 | 3,081,000 | Government | Foreign Govt & Muni (Excl Canadian) | Cyprus | 2.75% | Ba2 | 03-May-2049 | 21.26 |
| Clarios Global Lp / Clarios Us Finance | 0.29% | -0.04 | $4,923,416.42 | 3,995,000 | Corporate Securities | Automotive | United States | 4.38% | B1 | 15-May-2026 | 1.50 |
| Singapore Government Bond | 0.29% | -0.00 | $4,882,857.52 | 5,820,000 | Government | Foreign Govt & Muni (Excl Canadian) | Singapore | 2.88% | NR | 01-Jul-2029 | 7.21 |
| Summit Materials | 0.29% | -0.04 | $4,865,700.99 | 4,886,076 | Corporate Securities | Building Products | United States | 2.10% | Ba1 | 21-Nov-2024 | 0.14 |
| NBN | 0.29% | N/A | $4,858,293.39 | 4,724,000 | Corporate Securities | Other Telecommunications | Australia | 2.63% | A1 | 05-May-2031 | 8.67 |
| Charter Communications Operating | 0.29% | -0.04 | $4,850,969.37 | 4,887,627 | Corporate Securities | Cable Operators | United States | 1.86% | Ba1 | 01-Feb-2027 | -0.02 |
| Romanian Government International Bond | 0.29% | 0.01 | $4,832,570.41 | 3,990,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 2.00% | Baa3 | 28-Jan-2032 | 9.58 |
| China Government Bond | 0.29% | -0.03 | $4,797,512.48 | 30,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.28% | NR | 03-Dec-2027 | 5.74 |
| Freddie Mac Stacr Trust 2019-HQA1 | 0.28% | -0.03 | $4,749,320.87 | 4,698,964 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.44% | NR | 25-Feb-2049 | 0.09 |
| China development Bank | 0.28% | N/A | $4,709,075.29 | 30,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.30% | NR | 03-Mar-2026 | 4.31 |
| Indonesia Treasury Bond | 0.28% | -0.02 | $4,704,168.63 | 57,493,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | Indonesia | 9.00% | Baa2 | 15-Mar-2029 | 5.69 |
| Perrigo Finance Unlimited | 0.28% | -0.02 | $4,680,858.82 | 4,585,000 | Corporate Securities | Drugs | United States | 3.15% | Baa3 | 15-Jun-2030 | 7.79 |
| Bermuda Government International Bond | 0.28% | -0.01 | $4,626,686.90 | 3,905,000 | Government | Foreign Govt & Muni (Excl Canadian) | Bermuda | 4.75% | A2 | 15-Feb-2029 | 6.37 |
| Yanlord Land HK | 0.27% | -0.03 | $4,572,119.48 | 4,250,000 | Corporate Securities | Building & Real Estate | China | 6.80% | Ba3 | 27-Feb-2024 | 1.00 |
| Mexico City Airport Trust | 0.27% | -0.02 | $4,567,164.75 | 4,400,000 | Corporate Securities | Transportation | Mexico | 5.50% | Baa3 | 31-Jul-2047 | 13.62 |
| Dar Al-Arkan Sukuk | 0.27% | N/A | $4,549,471.24 | 4,282,000 | Corporate Securities | Building & Real Estate | Saudi Arabia | 6.88% | B1 | 21-Mar-2023 | 1.63 |
| Times China Holdings | 0.27% | -0.20 | $4,524,881.86 | 4,275,000 | Corporate Securities | Building & Real Estate | China | 6.75% | B1 | 16-Jul-2023 | 0.97 |
| COMM 2017-PANW Mortgage Trust | 0.27% | -0.03 | $4,506,472.05 | 4,340,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.71% | NR | 10-Oct-2029 | 3.11 |
| Republic of South Africa Government Bond | 0.27% | -0.00 | $4,505,039.71 | 68,803,000 | Government | Foreign Govt & Muni (Excl Canadian) | South Africa | 8.25% | Ba2 | 31-Mar-2032 | 7.08 |
| Nexa Resources | 0.27% | 0.02 | $4,496,702.03 | 3,875,000 | Corporate Securities | Metals & Mining | Peru | 6.50% | Ba2 | 18-Jan-2028 | 5.09 |
| Malaysia Government Bond | 0.27% | 0.08 | $4,452,765.63 | 16,903,000 | Government | Foreign Govt & Muni (Excl Canadian) | Malaysia | 4.64% | NR | 07-Nov-2033 | 9.71 |
| Vivo Energy Investments BV | 0.26% | 0.02 | $4,448,342.84 | 4,095,000 | Corporate Securities | Energy | Morocco | 5.13% | Baa3 | 24-Sep-2027 | 3.19 |
| C&W Senior Financing DAC | 0.26% | -0.03 | $4,425,598.63 | 4,015,000 | Corporate Securities | Cable Operators | Panama | 6.88% | B2 | 15-Sep-2027 | 1.12 |
| Leviathan Bond | 0.26% | -0.03 | $4,418,111.08 | 4,025,000 | Corporate Securities | Energy | Israel | 6.13% | Ba3 | 30-Jun-2025 | 3.37 |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 0.26% | -0.03 | $4,409,327.95 | 4,065,000 | Corporate Securities | Financial | Ireland | 4.50% | Baa3 | 15-Sep-2023 | 2.03 |
| Bangkok Bank PCL/Hong Kong | 0.26% | -0.02 | $4,323,573.91 | 4,120,000 | Corporate Securities | Banking | Thailand | 3.73% | Baa3 | 25-Sep-2034 | 7.01 |
| Shimao Group Holdings | 0.26% | 0.02 | $4,314,062.95 | 4,000,000 | Corporate Securities | Building & Real Estate | China | 5.60% | NR | 15-Jul-2026 | 3.02 |
| AbbVie | 0.26% | -0.02 | $4,309,421.62 | 3,580,000 | Corporate Securities | Drugs | United States | 4.25% | Baa2 | 21-Nov-2049 | 17.70 |
| Cheniere Energy | 0.25% | -0.03 | $4,211,742.71 | 3,965,000 | Corporate Securities | Energy | United States | 4.63% | Ba3 | 15-Oct-2028 | 3.74 |
| Federal National Mortgage Assn. | 0.25% | -0.08 | $4,205,946.98 | 3,842,012 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Sep-2048 | 3.02 |
| CPI Holdco | 0.25% | 0.07 | $4,194,798.56 | 4,192,535 | Corporate Securities | Manufacturing | United States | 3.85% | B2 | 04-Nov-2026 | 0.00 |
| Landsbankinn HF | 0.25% | -0.03 | $4,162,904.61 | 3,450,000 | Corporate Securities | Banking | Iceland | 1.00% | NR | 30-May-2023 | 1.90 |
| Akbank TAS | 0.25% | 0.04 | $4,158,129.86 | 4,075,000 | Corporate Securities | Banking | Turkey | 5.13% | B2 | 31-Mar-2025 | 3.33 |
| Gtlk Europe Capital DAC | 0.25% | N/A | $4,147,142.81 | 3,900,000 | Corporate Securities | Financial | Russia | 4.65% | Ba2 | 10-Mar-2027 | 4.73 |
| Braskem Netherlands Finance BV | 0.25% | N/A | $4,146,844.00 | 3,900,000 | Corporate Securities | Chemicals | Brazil | 4.50% | NR | 31-Jan-2030 | 6.99 |
| Kfc Holding | 0.25% | 0.23 | $4,123,543.60 | 4,125,029 | Corporate Securities | Restaurants | United States | 1.83% | Baa3 | 15-Mar-2028 | 0.00 |
| State of Illinois | 0.24% | 0.02 | $4,064,593.80 | 3,000,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 7.10% | Baa2 | 01-Jul-2035 | 7.38 |
| Bank of America | 0.24% | N/A | $4,019,394.89 | 3,895,000 | Corporate Securities | Banking | United States | 2.69% | A2 | 22-Apr-2032 | 8.70 |
| Colorado Health Facilities Authority | 0.24% | -0.03 | $4,019,017.21 | 3,955,000 | Tax-Free Revenue | Life Care/Nursing Home Revenue | United States | 3.36% | NR | 01-Dec-2030 | 7.18 |
| ICICI Bank Ltd/Dubai | 0.24% | -0.16 | $4,018,728.38 | 3,725,000 | Corporate Securities | Banking | India | 3.80% | Baa3 | 14-Dec-2027 | 5.80 |
| Ziggo BV | 0.24% | -0.03 | $4,002,253.34 | 3,355,000 | Corporate Securities | Cable Operators | Netherlands | 2.88% | B1 | 15-Jan-2030 | 5.51 |
| VNdo Trust 2016-350P | 0.23% | -0.02 | $3,940,681.77 | 3,825,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.90% | NR | 10-Jan-2035 | 5.01 |
| United Kingdom Gilt | 0.23% | -0.00 | $3,939,852.03 | 3,350,000 | Government | Foreign Govt & Muni (Excl Canadian) | United Kingdom | 0.63% | NR | 22-Oct-2050 | 26.75 |
| Orsted | 0.23% | N/A | $3,899,848.65 | 2,675,000 | Corporate Securities | Utilities | Denmark | 2.13% | Baa1 | 17-May-2027 | 5.44 |
| Kernel Holding | 0.23% | -0.03 | $3,840,909.34 | 3,525,000 | Corporate Securities | Food Processing | Ukraine | 6.50% | NR | 17-Oct-2024 | 1.63 |
| Japanese Government CPI Linked Bond | 0.23% | N/A | $3,829,155.02 | 405,862,449 | Government | Foreign Govt & Muni (Excl Canadian) | Japan | 0.20% | A1 | 10-Mar-2030 | 8.65 |
| DRIVEN BRANDS FUNDING | 0.23% | -0.03 | $3,828,945.17 | 3,569,600 | Asst Backed Securities | Asset Backed Other | United States | 4.74% | NR | 20-Apr-2048 | 6.01 |
| SBA Tower Trust | 0.23% | -0.03 | $3,783,977.01 | 3,585,000 | Corporate Securities | Wireless Communications | United States | 2.84% | A2 | 15-Jan-2025 | 2.63 |
| Westlake Chemical | 0.22% | -0.02 | $3,772,811.06 | 3,000,000 | Corporate Securities | Chemicals | United States | 1.63% | Baa2 | 17-Jul-2029 | 7.40 |
| Occidental Petroleum | 0.22% | -0.01 | $3,743,752.38 | 3,070,000 | Corporate Securities | Energy | United States | 6.63% | Ba2 | 01-Sep-2030 | 6.84 |
| Petroleos Mexicanos | 0.22% | -0.02 | $3,718,199.65 | 3,455,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | Mexico | 6.50% | Ba2 | 13-Mar-2027 | 4.67 |
| Sequoia Mortgage Trust 2017-2 | 0.22% | -0.03 | $3,701,177.23 | 3,601,694 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.58% | Baa3 | 25-Feb-2047 | 4.11 |
| Freddie Mac Structured Agency Credit Risk debt Notes | 0.22% | -0.02 | $3,693,821.84 | 3,585,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.42% | NR | 25-Aug-2033 | -0.23 |
| LSEGA Financing | 0.22% | -0.02 | $3,673,840.58 | 3,565,000 | Corporate Securities | Financial | United Kingdom | 2.50% | A3 | 06-Apr-2031 | 8.64 |
| Petroleos Mexicanos | 0.22% | -0.02 | $3,663,186.17 | 3,450,000 | Corporate Securities | Foreign Govt & Muni (Excl Canadian) | Mexico | 6.84% | Ba2 | 23-Jan-2030 | 6.13 |
| CSMC 2020-TMIC | 0.22% | -0.02 | $3,643,197.58 | 3,575,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.25% | NR | 15-Dec-2035 | 1.02 |
| Kuwait Projects Co SPC | 0.22% | -0.02 | $3,637,344.80 | 3,600,000 | Corporate Securities | Financial | Kuwait | 4.50% | Ba1 | 23-Feb-2027 | 4.99 |
| CIFI Holdings | 0.22% | -0.03 | $3,635,176.32 | 3,400,000 | Corporate Securities | Building & Real Estate | China | 6.45% | NR | 07-Nov-2024 | 2.16 |
| FWD Securitization Trust 2020-INV1 | 0.22% | 0.00 | $3,631,136.61 | 3,591,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.85% | NR | 25-Jan-2050 | 2.09 |
| Brixmor Operating Partnership | 0.21% | -0.03 | $3,567,280.89 | 3,200,000 | Corporate Securities | Real Estate Investment Trust Securities | United States | 4.13% | Baa3 | 15-Jun-2026 | 4.39 |
| Arion Banki HF | 0.21% | -0.02 | $3,556,158.73 | 2,949,000 | Corporate Securities | Banking | Iceland | 1.00% | NR | 20-Mar-2023 | 1.70 |
| LCPR Senior Secured Financing DAC | 0.21% | N/A | $3,526,081.69 | 3,240,000 | Corporate Securities | Cable Operators | United States | 6.75% | B1 | 15-Oct-2027 | 1.95 |
| Banco Comercial Portugues | 0.21% | -0.01 | $3,508,174.57 | 2,800,000 | Corporate Securities | Banking | Portugal | 4.50% | Ba3 | 07-Dec-2027 | 1.38 |
| Freddie Mac Structured Agency Credit Risk debt Notes | 0.21% | -0.03 | $3,490,110.85 | 3,329,914 | Mortgage Backed Securities | Whole Loans Backed | United States | 5.24% | A3 | 25-Nov-2028 | -2.51 |
| Avis Budget Rental Car Funding AESOP | 0.21% | -0.07 | $3,467,986.96 | 3,437,500 | Asst Backed Securities | Auto Backed | United States | 4.83% | NR | 20-Nov-2022 | 0.22 |
| Taconic Park CLO Ltd 2016-1A | 0.21% | N/A | $3,467,531.24 | 3,460,000 | Asst Backed Securities | Coll Debt Obligation | United States | 2.09% | A2 | 20-Jan-2029 | 0.05 |
| Leaseplan | 0.21% | -0.02 | $3,452,256.39 | 2,590,000 | Corporate Securities | Automotive | Netherlands | 7.38% | Ba3 | 29-Nov-2169 | 2.63 |
| Adaro Indonesia PT | 0.21% | -0.02 | $3,446,156.25 | 3,309,000 | Corporate Securities | Metals & Mining | Indonesia | 4.25% | Ba1 | 31-Oct-2024 | 3.07 |
| Citigroup Commercial Mortgage Trust 2013-375P | 0.21% | -0.02 | $3,444,460.03 | 3,350,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.52% | A1 | 10-May-2035 | 1.80 |
| iHeartCommunications | 0.20% | 0.06 | $3,389,907.48 | 3,180,000 | Corporate Securities | Broadcasting | United States | 5.25% | B1 | 15-Aug-2027 | 2.20 |
| Targa Resources | 0.20% | -0.02 | $3,389,012.63 | 3,130 | Energy | Oil, Gas & Consumable Fuels | United States | 9.50% | NR | 13-May-2170 | 10.14 |
| Globo Comunicacao E Participacoes | 0.20% | -0.02 | $3,388,709.65 | 3,200,000 | Corporate Securities | Telephones | Brazil | 5.13% | NR | 31-Mar-2027 | 4.86 |
| Lamar Funding | 0.20% | -0.03 | $3,374,087.84 | 3,335,000 | Corporate Securities | Utilities | Oman | 3.96% | Ba3 | 07-May-2025 | 3.59 |
| Marriott International Inc/MD | 0.20% | -0.23 | $3,365,424.63 | 2,900,000 | Corporate Securities | Lodging | United States | 5.75% | Baa3 | 01-May-2025 | 3.42 |
| Wells Fargo | 0.20% | N/A | $3,358,631.24 | 2,430,000 | Corporate Securities | Banking | United States | 5.01% | A2 | 04-Apr-2051 | 17.38 |
| Netflix | 0.20% | -0.02 | $3,346,252.42 | 2,250,000 | Corporate Securities | Cable Operators | United States | 4.63% | Ba1 | 15-May-2029 | 6.79 |
| Level 3 Financing | 0.20% | -0.02 | $3,319,508.33 | 3,373,278 | Corporate Securities | Other Telecommunications | United States | 1.85% | Ba1 | 01-Mar-2027 | -0.02 |
| Sabre GLBL | 0.19% | -0.02 | $3,229,919.25 | 3,213,850 | Corporate Securities | Services | United States | 4.75% | Ba3 | 17-Dec-2027 | 2.13 |
| Symphony CLO XX | 0.19% | -0.02 | $3,219,366.04 | 3,190,000 | Asst Backed Securities | Coll Debt Obligation | United States | 2.53% | A2 | 16-Jan-2032 | 0.21 |
| China development Bank | 0.19% | N/A | $3,218,716.15 | 20,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.70% | NR | 20-Oct-2030 | 7.77 |
| Verus Securitization Trust 2021-R1 | 0.19% | N/A | $3,175,538.52 | 3,155,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.34% | NR | 25-Oct-2063 | 1.55 |
| American Airlines Inc/AAdvantage Loyalty IP | 0.18% | -0.02 | $3,079,498.67 | 2,865,000 | Corporate Securities | Airlines | United States | 5.50% | Ba2 | 20-Apr-2026 | 3.06 |
| Marriott International Inc/MD | 0.18% | -0.02 | $3,068,519.76 | 2,660,000 | Corporate Securities | Lodging | United States | 4.63% | Baa3 | 15-Jun-2030 | 7.43 |
| Tobacco Settlement Finance Authority | 0.18% | -0.02 | $3,065,784.96 | 2,940,000 | Tax-Free Revenue | Other Revenue | United States | 4.88% | NR | 01-Jun-2049 | 6.00 |
| Allianz | 0.18% | -0.02 | $3,044,797.27 | 2,300,000 | Corporate Securities | Insurance | Germany | 3.38% | A2 | 18-Sep-2169 | 3.03 |
| Altice France SA/France | 0.18% | -0.02 | $3,037,178.57 | 3,045,340 | Corporate Securities | Cable Operators | France | 4.15% | B2 | 14-Aug-2026 | 0.12 |
| Benchmark 2018-B1 Mortgage Trust | 0.18% | -0.02 | $3,028,941.15 | 2,714,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.88% | NR | 15-Jan-2051 | 5.81 |
| Shimao Group Holdings | 0.18% | -0.03 | $3,023,716.04 | 3,181,000 | Corporate Securities | Building & Real Estate | China | 3.45% | NR | 11-Jan-2031 | 7.22 |
| JPMorgan Chase | 0.18% | -0.02 | $3,022,717.44 | 2,875,000 | Corporate Securities | Banking | United States | 2.96% | A3 | 13-May-2031 | 7.90 |
| BX Trust 2018-GW | 0.18% | -0.02 | $3,004,277.13 | 3,000,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.84% | NR | 15-May-2035 | 0.37 |
| T-Mobile USA | 0.18% | -0.02 | $2,995,830.19 | 2,890,000 | Corporate Securities | Wireless Communications | United States | 3.50% | Ba3 | 15-Apr-2031 | 6.60 |
| BBCMS 2020-BID Mortgage Trust | 0.18% | -0.02 | $2,975,430.55 | 2,945,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.21% | NR | 15-Oct-2037 | 0.38 |
| Freddie Mac Structured Agency Credit Risk debt Notes | 0.18% | -0.02 | $2,968,140.65 | 2,839,566 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.74% | Baa1 | 25-Oct-2028 | 0.15 |
| Thailand Government Bond | 0.18% | 0.01 | $2,952,370.24 | 79,570,000 | Government | Foreign Govt & Muni (Excl Canadian) | Thailand | 3.78% | Baa1 | 25-Jun-2032 | 9.19 |
| Alen 2021-ACEN Mortgage Trust | 0.18% | -0.02 | $2,943,911.51 | 2,940,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.32% | NR | 15-Apr-2034 | 0.37 |
| Lundin Energy Finance BV | 0.17% | N/A | $2,932,505.01 | 2,925,000 | Corporate Securities | Exploration & Production | Netherlands | 2.00% | Baa3 | 15-Jul-2026 | 4.78 |
| FNMA 30 YR | 0.17% | N/A | $2,919,897.82 | 2,814,763 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Nov-2050 | 5.33 |
| Arconic | 0.17% | -0.02 | $2,914,059.40 | 2,660,000 | Corporate Securities | Metals & Mining | United States | 6.13% | Ba3 | 15-Feb-2028 | 2.51 |
| Targa Resources Partners LP / Targa Resources Partners Finance | 0.17% | -0.01 | $2,909,141.15 | 2,515,000 | Corporate Securities | Energy | United States | 6.88% | Ba2 | 15-Jan-2029 | 3.07 |
| Univision Communications | 0.17% | N/A | $2,869,046.97 | 2,640,000 | Corporate Securities | Broadcasting | United States | 6.63% | B2 | 01-Jun-2027 | 2.76 |
| Angel Oak Mortgage Trust I LLC 2019-2 | 0.17% | -0.02 | $2,860,460.56 | 2,815,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.07% | NR | 25-Mar-2049 | 0.72 |
| CVS Health | 0.17% | N/A | $2,858,336.89 | 2,185,000 | Corporate Securities | Retail | United States | 5.05% | Baa2 | 25-Mar-2048 | 16.21 |
| LCPR Senior Secured Financing DAC | 0.17% | -0.02 | $2,854,373.39 | 2,740,000 | Corporate Securities | Cable Operators | United States | 5.13% | B1 | 15-Jul-2029 | 4.85 |
| Qatar Government International Bond | 0.17% | 0.09 | $2,819,363.86 | 2,470,000 | Government | Foreign Govt & Muni (Excl Canadian) | Qatar | 3.75% | Aa3 | 16-Apr-2030 | 7.64 |
| NGL Energy Operating LLC / NGL Energy Finance | 0.17% | 0.01 | $2,808,101.86 | 2,605,000 | Corporate Securities | Energy | United States | 7.50% | B1 | 01-Feb-2026 | 2.59 |
| Verizon Communications | 0.17% | -0.02 | $2,807,074.89 | 2,735,000 | Corporate Securities | Telephones | United States | 2.55% | Baa1 | 21-Mar-2031 | 8.58 |
| Bnp Paribas | 0.17% | -0.02 | $2,804,234.09 | 2,830,000 | Corporate Securities | Banking | France | 1.32% | Baa1 | 13-Jan-2027 | 4.39 |
| Banco de Credito del Peru | 0.17% | N/A | $2,787,551.63 | 2,785,000 | Corporate Securities | Banking | Peru | 3.25% | Baa3 | 30-Sep-2031 | 4.85 |
| ADMI | 0.17% | -0.02 | $2,774,631.99 | 2,807,963 | Corporate Securities | Healthcare | United States | 3.25% | B2 | 23-Dec-2027 | 1.63 |
| Navient | 0.16% | -0.02 | $2,730,850.00 | 2,440,000 | Corporate Securities | Financial | United States | 6.75% | Ba3 | 15-Jun-2026 | 4.26 |
| Vistra Operations | 0.16% | N/A | $2,720,068.92 | 2,690,000 | Corporate Securities | Utilities | United States | 4.38% | Ba2 | 01-May-2029 | 5.18 |
| BX Commercial Mortgage Trust 2020-BXLP | 0.16% | -0.02 | $2,719,869.09 | 2,717,367 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.07% | NR | 15-Dec-2036 | 0.22 |
| Croatia Government International Bond | 0.16% | -0.02 | $2,677,453.42 | 2,262,000 | Government | Foreign Govt & Muni (Excl Canadian) | Croatia | 1.13% | Ba1 | 04-Mar-2033 | 11.04 |
| SA Global Sukuk | 0.16% | N/A | $2,635,452.85 | 2,635,000 | Corporate Securities | Energy | Saudi Arabia | 0.95% | A1 | 17-Jun-2024 | 2.89 |
| CSC Holdings | 0.16% | -0.02 | $2,626,214.02 | 2,315,000 | Corporate Securities | Cable Operators | United States | 6.50% | Ba3 | 01-Feb-2029 | 3.35 |
| CD 2016-CD1 Mortgage Trust | 0.16% | -0.02 | $2,623,914.28 | 2,490,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.93% | Aa3 | 10-Aug-2049 | 4.79 |
| BX Trust 2021-VIEW | 0.16% | N/A | $2,619,734.29 | 2,615,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.08% | NR | 15-Jun-2023 | 0.27 |
| Altice Financing | 0.15% | -0.02 | $2,597,586.05 | 2,580,000 | Corporate Securities | Cable Operators | Luxembourg | 5.00% | B2 | 15-Jan-2028 | 4.14 |
| United Airlines 2018-1 Class AA Pass Through Trust | 0.15% | -0.01 | $2,596,429.66 | 2,456,906 | Corporate Securities | Airlines | United States | 3.50% | A1 | 01-Mar-2030 | 5.62 |
| Croatia Government International Bond | 0.15% | 0.06 | $2,584,501.14 | 2,115,000 | Government | Foreign Govt & Muni (Excl Canadian) | Croatia | 1.13% | Ba1 | 19-Jun-2029 | 7.69 |
| Credit Suisse Mortgage Capital Certificates 2019-ICE4 | 0.15% | -0.02 | $2,562,335.15 | 2,555,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.22% | Ba3 | 15-May-2036 | 0.36 |
| Great Lakes Water Authority Sewage Disposal System Revenue | 0.15% | -0.01 | $2,525,206.93 | 2,330,000 | Tax-Free Revenue | Water & Sewer Revenue | United States | 3.06% | A1 | 01-Jul-2039 | 13.72 |
| Pacific Gas & Electric | 0.15% | -0.02 | $2,516,242.09 | 2,395,000 | Corporate Securities | Utilities | United States | 4.95% | Baa3 | 01-Jul-2050 | 15.63 |
| Equate Petrochemical BV | 0.15% | N/A | $2,511,965.70 | 2,470,000 | Corporate Securities | Chemicals | Kuwait | 2.63% | Baa2 | 28-Apr-2028 | 6.20 |
| Ford Credit Floorplan Master Owner Trust | 0.15% | -0.02 | $2,510,357.53 | 2,500,000 | Asst Backed Securities | Auto Backed | United States | 1.87% | A1 | 15-Sep-2027 | 4.06 |
| Invesco CLO | 0.15% | N/A | $2,507,902.58 | 2,505,000 | Asst Backed Securities | Coll Debt Obligation | United States | 2.98% | Baa3 | 15-Jul-2034 | 0.43 |
| SM Investments | 0.15% | -0.02 | $2,500,453.19 | 2,300,000 | Corporate Securities | Retail | Philippines | 4.88% | NR | 10-Jun-2024 | 2.76 |
| Jerrold Finco | 0.15% | N/A | $2,496,342.46 | 1,710,000 | Corporate Securities | Financial | United Kingdom | 5.25% | NR | 15-Jan-2027 | 2.79 |
| FREMF 2019-K94 Mortgage Trust | 0.15% | -0.01 | $2,467,872.05 | 2,280,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.97% | NR | 25-Jul-2052 | 7.03 |
| UKG | 0.15% | -0.02 | $2,458,308.60 | 2,420,000 | Corporate Securities | Services | United States | 7.50% | Caa1 | 03-May-2027 | 2.12 |
| Edison International | 0.14% | -0.02 | $2,424,648.22 | 2,270,000 | Corporate Securities | Utilities | United States | 3.55% | Baa3 | 15-Nov-2024 | 3.14 |
| Malaysia Government Bond | 0.14% | -0.02 | $2,418,687.44 | 9,800,000 | Government | Foreign Govt & Muni (Excl Canadian) | Malaysia | 3.84% | A3 | 15-Apr-2033 | 9.34 |
| Audacy Capital | 0.14% | N/A | $2,416,603.12 | 2,295,000 | Corporate Securities | Broadcasting | United States | 6.75% | B3 | 31-Mar-2029 | 4.34 |
| Bath & Body Works | 0.14% | N/A | $2,414,692.42 | 2,045,000 | Corporate Securities | Retail | United States | 7.50% | Ba3 | 15-Jun-2029 | 3.23 |
| Range Resources | 0.14% | -0.01 | $2,412,852.76 | 2,115,000 | Corporate Securities | Energy | United States | 9.25% | B2 | 01-Feb-2026 | 0.79 |
| Madison Park Funding XXXIII | 0.14% | -0.02 | $2,400,095.46 | 2,385,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.51% | NR | 15-Oct-2032 | 0.19 |
| Credit Agricole SA/London | 0.14% | -0.02 | $2,398,821.92 | 2,225,000 | Corporate Securities | Banking | France | 3.25% | Baa1 | 04-Oct-2024 | 3.10 |
| Florida development Finance | 0.14% | -0.02 | $2,389,052.68 | 2,340,000 | Tax-Free Revenue | Educational Revenue | United States | 2.60% | Baa1 | 01-Apr-2026 | 4.46 |
| Export Import Bank of Thailand | 0.14% | -0.02 | $2,385,184.44 | 2,376,000 | Government | Foreign Govt & Muni (Excl Canadian) | Thailand | 1.46% | Baa1 | 15-Oct-2025 | 4.16 |
| Navient Private Education Refi Loan Trust 2020 | 0.14% | -0.02 | $2,374,937.29 | 2,365,000 | Asst Backed Securities | Student Loans | United States | 2.77% | NR | 15-Jan-2069 | 5.17 |
| Ashland Services BV | 0.14% | -0.01 | $2,367,591.35 | 1,955,000 | Corporate Securities | Chemicals | United States | 2.00% | Ba1 | 30-Jan-2028 | 6.03 |
| Option Care Health | 0.14% | -0.02 | $2,352,561.42 | 2,353,056 | Corporate Securities | Healthcare | United States | 3.85% | B2 | 06-Aug-2026 | 0.00 |
| Sprint Capital | 0.14% | -0.01 | $2,349,326.61 | 1,520,000 | Corporate Securities | Wireless Communications | United States | 8.75% | B1 | 15-Mar-2032 | 7.73 |
| CCO Holdings LLC / CCO Holdings Capital | 0.14% | N/A | $2,345,413.96 | 2,190,000 | Corporate Securities | Cable Operators | United States | 4.75% | B1 | 01-Mar-2030 | 4.81 |
| New Residential Mortgage Loan Trust 2019-NQM5 | 0.14% | -0.02 | $2,345,205.35 | 2,300,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.44% | NR | 25-Nov-2059 | 3.00 |
| Tenneco | 0.14% | N/A | $2,344,892.05 | 2,000,000 | Corporate Securities | Automotive | United States | 7.88% | Ba3 | 15-Jan-2029 | 3.05 |
| Legacy LifePoint Health | 0.14% | -0.02 | $2,331,057.27 | 2,165,000 | Corporate Securities | Healthcare | United States | 6.75% | B1 | 15-Apr-2025 | 1.07 |
| Astrazeneca Finance | 0.14% | N/A | $2,322,551.65 | 2,320,000 | Corporate Securities | Drugs | United Kingdom | 1.75% | A3 | 28-May-2028 | 6.51 |
| FOCUS Brands Funding | 0.14% | N/A | $2,307,773.72 | 2,208,375 | Asst Backed Securities | Asset Backed Other | United States | 5.18% | NR | 30-Oct-2048 | 3.81 |
| Starwood Mortgage Residential Trust 2021-3 | 0.14% | N/A | $2,306,409.79 | 2,300,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.35% | NR | 25-Jun-2056 | 2.85 |
| C&W Senior Financing DAC | 0.14% | -0.02 | $2,298,766.43 | 2,150,000 | Corporate Securities | Cable Operators | Panama | 7.50% | B2 | 15-Oct-2026 | 0.28 |
| Woof Holdings | 0.14% | -0.02 | $2,282,379.05 | 2,284,275 | Corporate Securities | Food/Tobacco | United States | 4.50% | B2 | 21-Dec-2027 | 2.15 |
| OCP CLO 2021-21 | 0.14% | N/A | $2,269,334.52 | 2,275,000 | Asst Backed Securities | Coll Debt Obligation | United States | 3.14% | NR | 20-Jul-2034 | 0.39 |
| Cheniere Energy | 0.13% | -0.01 | $2,248,902.17 | 2,615,000 | Energy | Oil, Gas & Consumable Fuels | United States | 4.25% | NR | 15-Mar-2045 | 1.57 |
| Magnetite XXIII | 0.13% | -0.02 | $2,214,122.75 | 2,205,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.48% | NR | 25-Oct-2032 | 0.20 |
| Clear Channel Worldwide Holdings | 0.13% | -0.01 | $2,192,892.89 | 2,105,000 | Corporate Securities | Broadcasting | United States | 5.13% | B1 | 15-Aug-2027 | 2.96 |
| Howard Hughes | 0.13% | -0.01 | $2,186,505.55 | 2,150,000 | Corporate Securities | Building & Real Estate | United States | 4.13% | Ba3 | 01-Feb-2029 | 4.99 |
| Altice France SA/France | 0.13% | -0.01 | $2,183,757.44 | 1,700,000 | Corporate Securities | Cable Operators | France | 5.88% | B2 | 01-Feb-2027 | 1.03 |
| Bellring Brands | 0.13% | -0.02 | $2,174,277.83 | 2,161,031 | Corporate Securities | Food/Tobacco | United States | 4.75% | B2 | 21-Oct-2024 | 2.06 |
| Townsquare Media | 0.13% | 0.11 | $2,152,170.31 | 1,955,000 | Corporate Securities | Broadcasting | United States | 6.88% | B2 | 01-Feb-2026 | 2.30 |
| Hilton Orlando Trust 2018-ORL | 0.13% | -0.02 | $2,147,491.47 | 2,145,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.27% | NR | 15-Dec-2034 | 0.36 |
| Metropolitan Pier & Exposition Authority | 0.13% | -0.02 | $2,127,722.28 | 2,020,000 | Tax-Free Revenue | Dedicated Tax Revenue | United States | 3.96% | NR | 15-Dec-2026 | 4.94 |
| CBAM 2019-9 | 0.13% | -0.02 | $2,126,770.45 | 2,120,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.46% | Aaa | 12-Feb-2030 | 0.18 |
| Guatemala Government Bond | 0.13% | -0.01 | $2,118,594.09 | 1,805,000 | Asst Backed Securities | Foreign Govt & Muni (Excl Canadian) | Guatemala | 5.38% | Ba1 | 24-Apr-2032 | 7.79 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.13% | -0.01 | $2,105,565.49 | 1,885,000 | Corporate Securities | Supermarkets | United States | 7.50% | Ba3 | 15-Mar-2026 | 0.83 |
| Albania Government International Bond | 0.12% | -0.02 | $2,090,478.98 | 1,635,000 | Government | Foreign Govt & Muni (Excl Canadian) | Albania | 3.50% | B1 | 16-Jun-2027 | 5.45 |
| Bermuda Government International Bond | 0.12% | -0.01 | $2,082,470.69 | 1,870,000 | Government | Foreign Govt & Muni (Excl Canadian) | Bermuda | 3.72% | A2 | 25-Jan-2027 | 4.90 |
| Navient Private Education Refi Loan Trust 2020-D | 0.12% | -0.02 | $2,070,005.51 | 2,005,000 | Asst Backed Securities | Student Loans | United States | 3.33% | NR | 15-May-2069 | 9.49 |
| Government National Mortgage Assn. | 0.12% | -0.03 | $2,064,031.55 | 1,918,248 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Feb-2048 | 3.91 |
| Commonwealth of Puerto Rico | 0.12% | -0.01 | $2,044,687.50 | 2,250,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 6.00% | Ca | 01-Jul-2039 | N/A |
| Federal National Mortgage Assn. | 0.12% | N/A | $2,042,452.37 | 1,904,458 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2046 | 3.34 |
| Santander Consumer Auto Receivables Trust 2020 | 0.12% | -0.01 | $2,036,424.28 | 2,010,000 | Asst Backed Securities | Auto Backed | United States | 2.14% | NR | 15-Dec-2026 | 2.82 |
| InTown Hotel Portfolio Trust 2018-STAY | 0.12% | -0.01 | $2,036,016.95 | 2,030,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.57% | NR | 15-Jan-2033 | 0.39 |
| BX Commercial Mortgage Trust 2020-BXLP | 0.12% | -0.02 | $2,034,277.64 | 2,033,173 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.57% | NR | 15-Dec-2036 | 0.36 |
| Vista Point Securitization Trust 2020-2 | 0.12% | -0.01 | $2,027,761.22 | 1,920,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.90% | NR | 25-Apr-2065 | 2.05 |
| MercadoLibre | 0.12% | -0.01 | $2,014,661.47 | 570,000 | Consumer Discretionary | Internet & Direct Marketing Retail | Argentina | 2.00% | NR | 15-Aug-2028 | 0.01 |
| DRIVEN BRANDS FUNDING | 0.12% | -0.01 | $1,998,986.99 | 1,895,675 | Asst Backed Securities | Asset Backed Other | United States | 3.79% | NR | 20-Jul-2050 | 5.29 |
| Stagwell | 0.12% | N/A | $1,998,617.53 | 1,950,000 | Corporate Securities | Broadcasting | United States | 7.50% | B3 | 01-May-2024 | 0.82 |
| AmeriCredit Automobile Receivables Trust 2020-3 | 0.12% | -0.01 | $1,996,999.99 | 1,980,000 | Asst Backed Securities | Auto Backed | United States | 1.49% | Baa2 | 18-Sep-2026 | 2.63 |
| Navient Private Education Refi Loan Trust 2021 | 0.12% | -0.01 | $1,968,921.86 | 1,955,000 | Asst Backed Securities | Student Loans | United States | 2.24% | NR | 15-May-2069 | 6.35 |
| OmGrid Funding | 0.12% | 0.05 | $1,967,455.51 | 1,865,000 | Corporate Securities | Utilities | Oman | 5.20% | Ba3 | 16-May-2027 | 5.08 |
| CCI Buyer | 0.12% | -0.01 | $1,962,184.79 | 1,960,088 | Corporate Securities | Wireless Communications | United States | 4.75% | B1 | 17-Dec-2027 | 2.05 |
| Starwood Mortgage Residential Trust 2019-1 | 0.12% | -0.01 | $1,955,771.97 | 1,942,139 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.30% | NR | 25-Jun-2049 | 3.25 |
| Bausch Health | 0.12% | -0.03 | $1,948,855.94 | 1,890,000 | Corporate Securities | Healthcare | United States | 7.25% | B3 | 30-May-2029 | 4.63 |
| Albania Government International Bond | 0.12% | -0.01 | $1,944,501.28 | 1,500,000 | Government | Foreign Govt & Muni (Excl Canadian) | Albania | 3.50% | B1 | 09-Oct-2025 | 3.93 |
| Occidental Petroleum | 0.12% | -0.00 | $1,938,316.68 | 1,410,000 | Corporate Securities | Energy | United States | 8.88% | Ba2 | 15-Jul-2030 | 6.31 |
| Royal Caribbean Cruises | 0.12% | -0.01 | $1,934,911.74 | 1,605,000 | Corporate Securities | Entertainment & Leisure | United States | 11.50% | Ba2 | 01-Jun-2025 | 1.08 |
| Albania Government International Bond | 0.11% | -0.01 | $1,931,537.93 | 1,490,000 | Government | Foreign Govt & Muni (Excl Canadian) | Albania | 3.50% | B1 | 09-Oct-2025 | 3.93 |
| Great Wolf Trust 2019-WOLF | 0.11% | N/A | $1,920,623.60 | 1,955,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.81% | Ba3 | 15-Dec-2036 | 0.34 |
| HTA Group Ltd/Mauritius | 0.11% | -0.02 | $1,883,862.36 | 1,760,000 | Corporate Securities | Media & Communications | Tanzania | 7.00% | B2 | 18-Dec-2025 | 1.47 |
| HSBC Holdings | 0.11% | -0.01 | $1,875,790.82 | 1,550,000 | Corporate Securities | Banking | United Kingdom | 4.95% | A3 | 31-Mar-2030 | 7.31 |
| Fannie Mae Connecticut Avenue Securities | 0.11% | -0.01 | $1,871,496.36 | 1,848,587 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.44% | NR | 25-Jan-2031 | -0.38 |
| Starwood Mortgage Residential Trust 2018-IMC2 | 0.11% | -0.01 | $1,867,635.27 | 1,838,002 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.38% | NR | 25-Oct-2048 | 0.45 |
| Chobani Llc / Chobani Finance | 0.11% | 0.01 | $1,855,787.62 | 1,785,000 | Corporate Securities | Food/Tobacco | United States | 4.63% | B1 | 15-Nov-2028 | 4.25 |
| Carnival | 0.11% | N/A | $1,854,917.26 | 1,530,000 | Corporate Securities | Entertainment & Leisure | United States | 10.50% | B1 | 01-Feb-2026 | 2.26 |
| BFLD 2019-DPLO | 0.11% | -0.01 | $1,830,737.84 | 1,830,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.61% | NR | 15-Oct-2034 | 0.36 |
| Egypt Government International Bond | 0.11% | -0.01 | $1,828,948.90 | 1,836,000 | Government | Foreign Govt & Muni (Excl Canadian) | Egypt | 5.88% | B2 | 16-Feb-2031 | 7.16 |
| Southern California Edison | 0.11% | -0.01 | $1,828,248.97 | 1,985,000 | Corporate Securities | Utilities | United States | 2.95% | A3 | 01-Feb-2051 | 19.12 |
| Angel Oak Mortgage Trust 2021-2 | 0.11% | N/A | $1,822,306.80 | 1,830,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.34% | NR | 25-Apr-2066 | 1.86 |
| HTA Group Ltd/Mauritius | 0.11% | N/A | $1,819,639.78 | 1,700,000 | Corporate Securities | Media & Communications | Tanzania | 7.00% | B2 | 18-Dec-2025 | 0.93 |
| Iqera Group SAS | 0.11% | -0.01 | $1,814,309.00 | 1,515,000 | Corporate Securities | Financial | France | 4.25% | B2 | 30-Sep-2024 | 1.47 |
| Teva Pharmaceutical Finance Netherlands III BV | 0.11% | N/A | $1,812,743.73 | 1,690,000 | Corporate Securities | Healthcare | Israel | 6.00% | Ba2 | 15-Apr-2024 | 2.33 |
| Federal National Mortgage Assn. | 0.11% | N/A | $1,809,135.43 | 1,575,612 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2047 | 3.82 |
| Commonwealth of Puerto Rico | 0.11% | -0.01 | $1,803,200.00 | 1,960,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 5.25% | Ca | 01-Jul-2037 | N/A |
| Morgan Stanley | 0.11% | N/A | $1,795,881.87 | 1,785,000 | Corporate Securities | Banking | United States | 1.59% | A1 | 04-May-2027 | 4.67 |
| AT&T | 0.11% | N/A | $1,780,120.68 | 1,755,000 | Corporate Securities | Telephones | United States | 3.55% | Baa2 | 15-Sep-2055 | 19.73 |
| Gainwell Acquisition | 0.11% | -0.01 | $1,769,536.43 | 1,765,564 | Corporate Securities | Healthcare | United States | 4.75% | B2 | 01-Oct-2027 | 2.15 |
| Altice France Holding | 0.10% | -0.01 | $1,740,185.50 | 1,505,000 | Corporate Securities | Cable Operators | France | 4.00% | Caa1 | 15-Feb-2028 | 4.01 |
| Federal National Mortgage Assn. | 0.10% | N/A | $1,722,951.61 | 1,599,911 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Oct-2047 | 3.43 |
| Commonwealth of Puerto Rico | 0.10% | -0.01 | $1,698,393.75 | 1,895,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 5.50% | Ca | 01-Jul-2031 | N/A |
| Alcoa Nederland Holding BV | 0.10% | -0.01 | $1,697,875.34 | 1,565,000 | Corporate Securities | Metals & Mining | United States | 5.50% | Ba1 | 15-Dec-2027 | 2.75 |
| Howard University | 0.10% | -0.01 | $1,679,684.98 | 1,505,000 | Asst Backed Securities | Industrial - Other | United States | 4.76% | NR | 01-Oct-2051 | 11.02 |
| OZLM VIII | 0.10% | -0.01 | $1,676,422.97 | 1,670,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.99% | Aa2 | 17-Oct-2029 | 0.19 |
| Federal National Mortgage Assn. | 0.10% | N/A | $1,652,691.40 | 1,590,000 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Jun-2051 | 6.26 |
| Hillenbrand | 0.10% | -0.01 | $1,648,660.58 | 1,645,000 | Corporate Securities | Manufacturing | United States | 3.75% | Ba1 | 01-Mar-2031 | 6.83 |
| Freddie Mac STACR Trust 2019-HQA2 | 0.10% | -0.01 | $1,643,585.08 | 1,630,161 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.14% | NR | 25-Apr-2049 | -0.03 |
| Pacific Gas & Electric | 0.10% | -0.01 | $1,640,864.61 | 1,675,000 | Corporate Securities | Utilities | United States | 2.10% | Baa3 | 01-Aug-2027 | 5.64 |
| Vista Point Securitization Trust 2020-1 | 0.10% | -0.01 | $1,639,927.64 | 1,560,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 5.38% | NR | 25-Mar-2065 | 1.89 |
| COMM 2015-PC1 Mortgage Trust | 0.10% | -0.01 | $1,637,965.84 | 1,500,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.46% | NR | 10-Jul-2050 | 3.65 |
| Commonwealth of Puerto Rico | 0.10% | -0.01 | $1,630,175.00 | 1,970,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 8.00% | Ca | 01-Jul-2035 | N/A |
| China Government Bond | 0.10% | -0.01 | $1,629,630.08 | 10,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 4.00% | NR | 24-Jun-2069 | 22.35 |
| Applebee S Funding Llc / Ihop Funding | 0.10% | -0.01 | $1,622,092.49 | 1,578,075 | Asst Backed Securities | Asset Backed Other | United States | 4.19% | NR | 07-Jun-2049 | 2.73 |
| Sri Lanka Government International Bond | 0.10% | -0.01 | $1,618,817.68 | 1,600,000 | Government | Foreign Govt & Muni (Excl Canadian) | Sri Lanka | 6.25% | Caa1 | 27-Jul-2021 | 0.06 |
| Serbia International Bond | 0.10% | -0.01 | $1,616,541.99 | 1,350,000 | Government | Foreign Govt & Muni (Excl Canadian) | Serbia | 1.50% | Ba2 | 26-Jun-2029 | 7.58 |
| Federal National Mortgage Assn. | 0.10% | N/A | $1,615,248.01 | 1,416,226 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2045 | 3.97 |
| Freddie Mac STACR REMIC Trust 2020-HQA3 | 0.09% | -0.06 | $1,593,744.40 | 1,573,219 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.69% | Baa2 | 25-Jul-2050 | -0.70 |
| COLT 2020-3 Mortgage Loan Trust | 0.09% | -0.01 | $1,590,938.03 | 1,562,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.36% | NR | 27-Apr-2065 | 4.47 |
| New York City IDA | 0.09% | -0.01 | $1,587,286.89 | 1,560,000 | Tax-Free Revenue | Other Revenue | United States | 2.68% | A2 | 01-Mar-2033 | 10.05 |
| China Government Bond | 0.09% | -0.01 | $1,587,030.35 | 10,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | China | 3.02% | NR | 22-Oct-2025 | 3.98 |
| Teva Pharmaceutical Finance Netherlands III BV | 0.09% | N/A | $1,583,493.21 | 1,400,000 | Corporate Securities | Healthcare | Israel | 7.13% | Ba2 | 31-Jan-2025 | 2.90 |
| Sprint Capital | 0.09% | N/A | $1,575,362.30 | 1,220,000 | Corporate Securities | Wireless Communications | United States | 6.88% | B1 | 15-Nov-2028 | 6.06 |
| United Airlines 2019-2 Class AA Pass Through Trust | 0.09% | -0.01 | $1,572,923.68 | 1,566,602 | Corporate Securities | Airlines | United States | 2.70% | A1 | 01-May-2032 | 6.85 |
| Ivory Coast Government International Bond | 0.09% | -0.01 | $1,569,541.38 | 1,285,000 | Asst Backed Securities | Foreign Govt & Muni (Excl Canadian) | Cote d Ivoire | 4.88% | Ba3 | 30-Jan-2032 | 7.54 |
| Woof Holdings | 0.09% | -0.01 | $1,545,300.00 | 1,530,000 | Corporate Securities | Food/Tobacco | United States | 8.00% | Caa2 | 21-Dec-2028 | 2.08 |
| Federal National Mortgage Assn. | 0.09% | N/A | $1,529,117.01 | 1,432,244 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-May-2047 | 3.77 |
| Tenet Healthcare | 0.09% | -0.01 | $1,527,382.07 | 1,395,000 | Corporate Securities | Healthcare | United States | 7.50% | B1 | 01-Apr-2025 | 0.85 |
| Republic of South Africa Government Bond | 0.09% | N/A | $1,505,206.48 | 21,880,000 | Government | Foreign Govt & Muni (Excl Canadian) | South Africa | 8.00% | Ba2 | 31-Jan-2030 | 6.11 |
| COMM 2014-CR14 Mortgage Trust | 0.09% | -0.01 | $1,499,447.39 | 1,390,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.61% | Aa3 | 10-Feb-2047 | 2.39 |
| Dave & Buster s | 0.09% | -0.01 | $1,499,217.18 | 1,380,000 | Corporate Securities | Restaurants | United States | 7.63% | Caa1 | 01-Nov-2025 | 1.96 |
| Ares LVIII CLO | 0.09% | -0.01 | $1,492,856.39 | 1,480,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.46% | NR | 15-Jan-2033 | 0.13 |
| Government National Mortgage Assn. | 0.09% | N/A | $1,481,630.23 | 1,395,001 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Oct-2050 | 2.51 |
| DC office Trust 2019-MTC | 0.09% | -0.01 | $1,453,855.11 | 1,455,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.17% | Baa3 | 15-Sep-2045 | 7.39 |
| Banco de Credito del Peru | 0.09% | N/A | $1,431,307.88 | 1,415,000 | Corporate Securities | Banking | Peru | 3.13% | Baa3 | 01-Jul-2030 | 3.75 |
| Magnetite XXV | 0.09% | -0.01 | $1,429,763.08 | 1,410,000 | Asst Backed Securities | Coll Debt Obligation | United States | 2.35% | NR | 25-Jan-2032 | 0.22 |
| Enact Holdings | 0.08% | -0.01 | $1,413,619.06 | 1,260,000 | Corporate Securities | Financial | United States | 6.50% | Ba3 | 15-Aug-2025 | 3.29 |
| Cigna | 0.08% | -0.01 | $1,412,826.91 | 1,375,000 | Corporate Securities | Insurance | United States | 2.40% | Baa1 | 15-Mar-2030 | 7.81 |
| TransDigm | 0.08% | -0.01 | $1,395,273.70 | 1,270,000 | Corporate Securities | Aerospace & Defense | United States | 8.00% | Ba3 | 15-Dec-2025 | 0.97 |
| CoreLogic | 0.08% | N/A | $1,391,925.00 | 1,385,000 | Corporate Securities | Services | United States | 7.00% | Caa1 | 04-Jun-2029 | 0.20 |
| Santander Drive Auto Receivables Trust 2020-4 | 0.08% | -0.01 | $1,377,710.98 | 1,360,000 | Asst Backed Securities | Auto Backed | United States | 1.48% | A1 | 15-Jan-2027 | 1.88 |
| CVS Health | 0.08% | -0.01 | $1,371,369.01 | 1,215,000 | Corporate Securities | Retail | United States | 3.75% | Baa2 | 01-Apr-2030 | 7.47 |
| Cyprus Government International Bond | 0.08% | -0.01 | $1,361,468.70 | 917,000 | Government | Foreign Govt & Muni (Excl Canadian) | Cyprus | 2.75% | Ba2 | 26-Feb-2034 | 11.11 |
| Freddie Mac STACR REMIC Trust 2020-DNA6 | 0.08% | -0.01 | $1,359,763.04 | 1,345,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.02% | NR | 25-Dec-2050 | 0.11 |
| Senegal Government International Bond | 0.08% | -0.01 | $1,350,894.54 | 1,075,000 | Asst Backed Securities | Foreign Govt & Muni (Excl Canadian) | Senegal | 4.75% | Ba3 | 13-Mar-2028 | 4.98 |
| Ellington Financial Mortgage Trust 2020-1 | 0.08% | -0.01 | $1,343,384.66 | 1,280,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 5.24% | NR | 25-May-2065 | 1.82 |
| Golub Capital Partners CLO 39B | 0.08% | -0.02 | $1,337,402.87 | 1,333,535 | Asst Backed Securities | Coll Debt Obligation | United States | 1.34% | Aaa | 20-Oct-2028 | 0.15 |
| Americredit Automobile Receivables Trust 2018-1 | 0.08% | -0.01 | $1,316,599.41 | 1,265,000 | Asst Backed Securities | Auto Backed | United States | 3.82% | NR | 18-Mar-2024 | 1.34 |
| Asurion | 0.08% | -0.01 | $1,302,001.85 | 1,292,848 | Corporate Securities | Wireless Communications | United States | 5.35% | B3 | 31-Jan-2028 | 0.02 |
| Government National Mortgage Assn. | 0.08% | -0.03 | $1,301,707.95 | 1,212,417 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-May-2047 | 2.18 |
| Surgery Center Holdings | 0.08% | -0.01 | $1,298,954.37 | 1,160,000 | Corporate Securities | Healthcare | United States | 10.00% | Caa2 | 15-Apr-2027 | 1.04 |
| Hardee s Funding | 0.08% | -0.01 | $1,296,558.90 | 1,223,850 | Asst Backed Securities | Asset Backed Other | United States | 3.98% | NR | 20-Dec-2050 | 5.62 |
| SA Global Sukuk | 0.08% | N/A | $1,283,247.11 | 1,282,000 | Corporate Securities | Energy | Saudi Arabia | 1.60% | A1 | 17-Jun-2026 | 4.76 |
| Intelsat Jackson Holdings | 0.08% | -0.01 | $1,277,864.59 | 1,085,000 | Corporate Securities | Satellites | United States | 9.50% | NR | 30-Sep-2022 | 1.22 |
| Romanian Government International Bond | 0.08% | -0.01 | $1,265,673.20 | 1,045,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 2.00% | Baa3 | 28-Jan-2032 | 9.58 |
| Freddie Mac STACR REMIC Trust 2021-DNA3 | 0.07% | N/A | $1,246,548.05 | 1,220,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.12% | NR | 25-Oct-2033 | -0.27 |
| Fannie Mae Connecticut Avenue Securities | 0.07% | -0.01 | $1,228,325.91 | 1,206,276 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.64% | NR | 25-Dec-2030 | 0.08 |
| Hilton Grand Vacations Trust 2020 | 0.07% | -0.01 | $1,226,311.43 | 1,120,032 | Asst Backed Securities | Asset Backed Other | United States | 6.42% | NR | 25-Feb-2039 | 2.78 |
| Freddie Mac Stacr Remic Trust 2019-Hqa4 | 0.07% | -0.04 | $1,205,227.32 | 1,200,605 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.14% | NR | 25-Nov-2049 | 0.03 |
| Morgan Stanley | 0.07% | N/A | $1,193,584.82 | 1,120,000 | Corporate Securities | Banking | United States | 3.22% | A1 | 22-Apr-2042 | 15.17 |
| Barings CLO Ltd 2016-II | 0.07% | -0.03 | $1,183,328.65 | 1,180,110 | Asst Backed Securities | Coll Debt Obligation | United States | 1.27% | Aaa | 20-Jul-2028 | 0.16 |
| Oryx Funding | 0.07% | -0.01 | $1,179,373.13 | 1,090,000 | Corporate Securities | Utilities | Oman | 5.80% | Ba3 | 03-Feb-2031 | 7.30 |
| Manhattan West 2020-1MW Mortgage Trust | 0.07% | -0.01 | $1,178,100.19 | 1,185,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 2.33% | Baa3 | 10-Sep-2039 | 5.81 |
| Madison IAQ | 0.07% | N/A | $1,162,797.12 | 1,150,000 | Corporate Securities | Manufacturing | United States | 4.13% | B1 | 30-Jun-2028 | 4.99 |
| 2020 Cash Mandatory Exchangeable Trust | 0.07% | -0.00 | $1,161,637.35 | 925 | Communication Services | Wireless Telecommunication Services | United States | 5.25% | NR | 01-Jun-2023 | 0.36 |
| Azalea Topco | 0.07% | N/A | $1,151,437.50 | 1,150,000 | Corporate Securities | Healthcare | United States | 4.50% | B2 | 25-Jul-2026 | 2.15 |
| CSAIL 2016-C6 Commercial Mortgage Trust | 0.07% | -0.01 | $1,142,253.07 | 1,065,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.92% | NR | 15-Jan-2049 | 4.32 |
| Peraton | 0.07% | -0.01 | $1,124,521.65 | 1,122,188 | Corporate Securities | Aerospace & Defense | United States | 4.50% | B1 | 01-Feb-2028 | 2.17 |
| FNMA 30 YR | 0.07% | N/A | $1,099,427.76 | 1,041,498 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Feb-2050 | 3.45 |
| Towd Point Mortgage Trust 2017-1 | 0.07% | -0.01 | $1,096,606.41 | 1,035,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.75% | Aaa | 25-Oct-2056 | 3.97 |
| OBX 2021-NQM1 Trust | 0.07% | -0.01 | $1,094,776.70 | 1,095,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.22% | NR | 25-Feb-2066 | 2.66 |
| Methanex | 0.06% | -0.01 | $1,085,194.05 | 1,005,000 | Corporate Securities | Chemicals | Canada | 5.25% | Ba1 | 15-Dec-2029 | 6.85 |
| Banco De Bogota | 0.06% | -0.01 | $1,075,351.74 | 1,000,000 | Corporate Securities | Banking | Colombia | 4.38% | Baa2 | 03-Aug-2027 | 5.21 |
| Starwood Mortgage Residential Trust 2020-INV | 0.06% | -0.02 | $1,069,929.84 | 1,068,551 | Mortgage Backed Securities | Whole Loans Backed | United States | 1.59% | NR | 25-Nov-2055 | 1.58 |
| Cantor Commercial Real Estate Lending 2019-CF1 | 0.06% | -0.01 | $1,066,717.43 | 1,055,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.14% | NR | 15-May-2052 | 2.65 |
| FNMA 30 YR | 0.06% | N/A | $1,066,374.52 | 1,027,978 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Dec-2050 | 5.39 |
| Thailand Government Bond | 0.06% | -0.01 | $1,059,471.78 | 33,850,000 | Government | Foreign Govt & Muni (Excl Canadian) | Thailand | 1.60% | NR | 17-Dec-2029 | 8.03 |
| BX Trust 2018-GW | 0.06% | -0.01 | $1,041,551.43 | 1,040,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.29% | NR | 15-May-2035 | 0.37 |
| Altice France SA/France | 0.06% | -0.01 | $1,029,545.24 | 885,000 | Corporate Securities | Cable Operators | France | 3.38% | B2 | 15-Jan-2028 | 4.14 |
| Freddie Mac STACR REMIC Trust 2020-DNA4 | 0.06% | -0.03 | $1,011,015.89 | 999,611 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.84% | NR | 25-Aug-2050 | -0.51 |
| Continental Resources Inc/OK | 0.06% | -0.00 | $1,008,205.81 | 820,000 | Corporate Securities | Energy | United States | 5.75% | Ba1 | 15-Jan-2031 | 7.22 |
| Avis Budget Rental Car Funding AESOP | 0.06% | -0.01 | $1,007,093.61 | 990,000 | Asst Backed Securities | Auto Backed | United States | 4.53% | Ba1 | 20-Mar-2023 | 0.51 |
| 280 Park Avenue 2017-280P Mortgage Trust | 0.06% | -0.01 | $995,510.92 | 995,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.15% | NR | 15-Sep-2034 | 0.28 |
| Bausch Health Americas | 0.06% | -0.01 | $982,586.32 | 875,000 | Corporate Securities | Healthcare | United States | 8.50% | B3 | 31-Jan-2027 | 1.54 |
| Federal National Mortgage Assn. | 0.06% | N/A | $955,747.93 | 884,796 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Mar-2049 | 2.36 |
| TK Elevator Midco GmbH | 0.06% | -0.01 | $933,746.39 | 740,000 | Corporate Securities | Services | Germany | 4.38% | B1 | 15-Jul-2027 | 2.96 |
| Romanian Government International Bond | 0.05% | -0.01 | $922,371.40 | 696,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 2.88% | Baa3 | 11-Mar-2029 | 6.99 |
| MVW 2020-1 | 0.05% | -0.01 | $903,490.80 | 852,191 | Asst Backed Securities | Asset Backed Other | United States | 4.21% | NR | 20-Oct-2037 | 2.99 |
| Serbia International Bond | 0.05% | -0.01 | $895,589.04 | 941,000 | Government | Foreign Govt & Muni (Excl Canadian) | Serbia | 2.13% | Ba2 | 01-Dec-2030 | 8.57 |
| Commonwealth of Puerto Rico | 0.05% | -0.00 | $864,675.00 | 945,000 | Tax-Free Gen. Obligations | General Obligations - State | United States | 5.13% | Ca | 01-Jul-2031 | N/A |
| Federal National Mortgage Assn. | 0.05% | -0.01 | $862,360.12 | 791,426 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Aug-2047 | 3.95 |
| NTPC | 0.05% | -0.01 | $858,572.16 | 60,000,000 | Corporate Securities | Utilities | India | 7.38% | NR | 10-Aug-2021 | 0.11 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.05% | N/A | $850,304.62 | 775,000 | Corporate Securities | Supermarkets | United States | 5.88% | Ba3 | 15-Feb-2028 | 1.96 |
| Globo Comunicacao E Participacoes | 0.05% | N/A | $845,899.56 | 800,000 | Corporate Securities | Telephones | Brazil | 4.88% | Ba2 | 22-Jan-2030 | 6.83 |
| Cano Health | 0.05% | -0.10 | $832,092.11 | 831,743 | Corporate Securities | Healthcare | United States | 5.25% | B2 | 23-Nov-2027 | 2.09 |
| Navient Private Education Loan Trust 2017 | 0.05% | -0.01 | $822,221.99 | 805,000 | Asst Backed Securities | Student Loans | United States | 3.91% | NR | 16-Dec-2058 | 4.72 |
| United Airlines | 0.05% | N/A | $819,133.55 | 785,000 | Corporate Securities | Airlines | United States | 4.38% | Ba1 | 15-Apr-2026 | 4.09 |
| Towd Point Mortgage Trust 2019-1 | 0.05% | -0.01 | $811,240.25 | 768,017 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.72% | Aa1 | 25-Mar-2058 | 2.28 |
| PetSmart Inc / PetSmart Finance | 0.05% | -0.00 | $793,717.65 | 750,000 | Corporate Securities | Retail | United States | 4.75% | B1 | 15-Feb-2028 | 4.15 |
| Freddie Mac STACR REMIC Trust 2020-HQA4 | 0.05% | -0.02 | $787,476.59 | 778,232 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.24% | Baa1 | 25-Sep-2050 | 0.09 |
| Country Garden Holdings | 0.05% | N/A | $777,994.42 | 700,000 | Corporate Securities | Building & Real Estate | China | 5.63% | NR | 14-Jan-2030 | 4.58 |
| Export-Import Bank of India | 0.05% | -0.01 | $775,488.52 | 49,000,000 | Government | Foreign Govt & Muni (Excl Canadian) | India | 8.38% | NR | 24-Jul-2025 | 3.33 |
| Bausch Health | 0.05% | -0.01 | $768,756.86 | 715,000 | Corporate Securities | Healthcare | United States | 9.00% | B3 | 15-Dec-2025 | 0.57 |
| Seasoned Credit Risk Transfer Trust Series 2017-2 | 0.04% | -0.01 | $754,013.56 | 740,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.00% | Ba2 | 25-Aug-2056 | 3.16 |
| SG Residential Mortgage Trust 2019-3 | 0.04% | -0.01 | $753,797.40 | 747,819 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.08% | NR | 25-Sep-2059 | 0.96 |
| Altice France SA/France | 0.04% | -0.01 | $744,529.90 | 640,000 | Corporate Securities | Cable Operators | France | 3.38% | B2 | 15-Jan-2028 | 4.13 |
| Federal National Mortgage Assn. | 0.04% | N/A | $736,086.75 | 695,554 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Nov-2048 | 2.94 |
| JPMCC Commercial Mortgage Securities Trust 2017-JP5 | 0.04% | -0.00 | $725,412.61 | 655,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 3.88% | Aa2 | 15-Mar-2050 | 5.11 |
| RealPage | 0.04% | -0.00 | $709,837.50 | 690,000 | Corporate Securities | Information Technology | United States | 7.25% | NR | 23-Apr-2029 | 0.17 |
| Federal National Mortgage Assn. | 0.04% | N/A | $709,188.93 | 636,361 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Dec-2041 | 4.09 |
| PLT VII Finance Sarl | 0.04% | -0.00 | $708,076.43 | 565,000 | Corporate Securities | Wireless Communications | Lithuania | 4.63% | B2 | 05-Jan-2026 | 1.76 |
| Royal Caribbean Cruises | 0.04% | -0.01 | $706,659.51 | 680,000 | Corporate Securities | Entertainment & Leisure | United States | 5.25% | B2 | 15-Nov-2022 | 1.32 |
| NTPC | 0.04% | -0.01 | $689,589.51 | 50,000,000 | Corporate Securities | Utilities | India | 7.25% | NR | 03-May-2022 | 0.81 |
| FNMA 30 YR | 0.04% | N/A | $652,099.00 | 617,786 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Oct-2049 | 3.18 |
| Continental Resources Inc/OK | 0.04% | -0.00 | $645,542.74 | 575,000 | Corporate Securities | Energy | United States | 4.38% | Ba1 | 15-Jan-2028 | 5.58 |
| Citigroup Commercial Mortgage Trust 2015-P1 | 0.04% | -0.00 | $608,563.83 | 560,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.46% | NR | 15-Sep-2048 | 3.81 |
| Angel Oak Mortgage Trust I LLC 2019-1 | 0.04% | -0.02 | $607,969.02 | 597,907 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.92% | NR | 25-Nov-2048 | 0.85 |
| Ashland Services BV | 0.03% | -0.00 | $581,301.21 | 480,000 | Corporate Securities | Chemicals | United States | 2.00% | Ba1 | 30-Jan-2028 | 6.02 |
| Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34 | 0.03% | -0.00 | $576,761.51 | 535,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 4.18% | NR | 15-Nov-2052 | 5.62 |
| Verus Securitization Trust 2020-INV1 | 0.03% | -0.00 | $565,695.95 | 530,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 5.50% | NR | 25-Mar-2060 | 5.98 |
| MGIC Investment | 0.03% | -0.00 | $553,482.73 | 515,000 | Corporate Securities | Financial | United States | 5.25% | Ba1 | 15-Aug-2028 | 3.48 |
| Pacific Gas & Electric | 0.03% | -0.00 | $547,560.52 | 502,000 | Corporate Securities | Utilities | United States | 4.55% | Baa3 | 01-Jul-2030 | 7.33 |
| United Airlines | 0.03% | N/A | $537,642.97 | 515,000 | Corporate Securities | Airlines | United States | 4.63% | Ba1 | 15-Apr-2029 | 6.39 |
| Peraton | 0.03% | N/A | $530,400.00 | 520,000 | Corporate Securities | Aerospace & Defense | United States | 8.50% | NR | 01-Feb-2029 | 0.08 |
| CCO Holdings LLC / CCO Holdings Capital | 0.03% | -0.00 | $524,714.75 | 480,000 | Corporate Securities | Cable Operators | United States | 5.38% | B1 | 01-Jun-2029 | 3.94 |
| Government National Mortgage Assn. | 0.03% | -0.01 | $521,152.60 | 474,334 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Nov-2047 | 3.58 |
| Federal National Mortgage Assn. | 0.03% | -0.01 | $515,788.57 | 480,902 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Dec-2045 | 3.34 |
| athenahealth | 0.03% | -0.00 | $504,840.69 | 503,738 | Corporate Securities | Healthcare | United States | 4.41% | B2 | 11-Feb-2026 | 0.01 |
| Ashford Hospitality Trust 2018-ASHF | 0.03% | -0.00 | $498,933.78 | 500,000 | Mortgage Backed Securities | Commercial Mortgage Backed Securities | United States | 1.47% | NR | 15-Apr-2035 | 0.36 |
| Edison International | 0.03% | -0.00 | $491,116.84 | 475,000 | Corporate Securities | Utilities | United States | 3.13% | Baa3 | 15-Nov-2022 | 1.27 |
| Government National Mortgage Assn. | 0.03% | N/A | $482,389.72 | 468,295 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Sep-2049 | 2.98 |
| Deephaven Residential Mortgage Trust 2021-2 | 0.03% | N/A | $470,569.64 | 470,000 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.17% | NR | 25-Apr-2066 | 1.85 |
| Tacala Investment | 0.03% | N/A | $455,286.65 | 455,000 | Corporate Securities | Restaurants | United States | 8.25% | NR | 04-Feb-2028 | 3.53 |
| Towd Point Mortgage Trust 2017-6 | 0.03% | -0.01 | $451,072.37 | 439,442 | Mortgage Backed Securities | Whole Loans Backed | United States | 2.75% | Aaa | 25-Oct-2057 | 1.76 |
| Amwins | 0.03% | -0.00 | $450,487.50 | 410,000 | Corporate Securities | Financial | United States | 7.75% | B3 | 01-Jul-2026 | 1.29 |
| CVS Health | 0.03% | -0.00 | $435,513.49 | 400,000 | Corporate Securities | Retail | United States | 3.00% | Baa2 | 15-Aug-2026 | 4.67 |
| Engineered Machinery Holdings | 0.03% | N/A | $434,300.00 | 430,000 | Corporate Securities | Manufacturing | United States | 7.25% | Caa2 | 21-May-2029 | 2.10 |
| Government National Mortgage Assn. | 0.03% | -0.01 | $427,810.48 | 398,132 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Jun-2047 | 2.18 |
| Federal National Mortgage Assn. | 0.02% | -0.01 | $412,487.43 | 385,459 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2046 | 3.34 |
| Astrazeneca Finance | 0.02% | N/A | $384,229.71 | 380,000 | Corporate Securities | Drugs | United Kingdom | 2.25% | A3 | 28-May-2031 | 8.89 |
| Government National Mortgage Assn. | 0.02% | N/A | $376,212.07 | 347,515 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Jun-2049 | 2.17 |
| Federal National Mortgage Assn. | 0.02% | -0.00 | $375,469.57 | 323,286 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-May-2044 | 3.63 |
| Romanian Government International Bond | 0.02% | -0.00 | $352,216.37 | 295,000 | Government | Foreign Govt & Muni (Excl Canadian) | Romania | 1.38% | Baa3 | 02-Dec-2029 | 7.95 |
| Federal National Mortgage Assn. | 0.02% | N/A | $351,849.07 | 331,696 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Nov-2047 | 2.94 |
| Federal National Mortgage Assn. | 0.02% | N/A | $348,480.03 | 324,974 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Feb-2046 | 3.34 |
| Government National Mortgage Assn. | 0.02% | N/A | $332,534.62 | 322,819 | Mortgage Backed Securities | Mortgages | United States | 3.00% | NR | 20-Mar-2050 | 2.86 |
| Trivium Packaging Finance BV | 0.02% | -0.00 | $329,061.84 | 270,000 | Corporate Securities | Container | Netherlands | 3.75% | B2 | 15-Aug-2026 | 2.56 |
| Galton Funding Mortgage Trust 2017-1 | 0.02% | -0.01 | $322,184.57 | 317,038 | Mortgage Backed Securities | Whole Loans Backed | United States | 3.50% | NR | 25-Nov-2057 | 2.09 |
| FNMA 30 YR | 0.02% | N/A | $305,427.22 | 294,430 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Feb-2051 | 5.58 |
| Federal National Mortgage Assn. | 0.02% | -0.00 | $288,380.66 | 246,959 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-May-2035 | 3.63 |
| Madison Park Funding XXXVII | 0.02% | -0.00 | $280,973.82 | 280,000 | Asst Backed Securities | Coll Debt Obligation | United States | 1.48% | NR | 15-Jul-2032 | 0.06 |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons | 0.02% | -0.00 | $276,473.75 | 266,000 | Corporate Securities | Supermarkets | United States | 5.75% | Ba3 | 15-Mar-2025 | 0.21 |
| Federal National Mortgage Assn. | 0.02% | N/A | $271,781.30 | 253,808 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Sep-2046 | 3.34 |
| Federal National Mortgage Assn. | 0.02% | -0.01 | $257,933.19 | 240,472 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Aug-2047 | 3.43 |
| Sequoia Mortgage Trust 2018-CH3 | 0.01% | -0.01 | $240,733.23 | 234,149 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.50% | Aa1 | 25-Aug-2048 | 1.70 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $235,109.25 | 219,192 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Nov-2045 | 3.34 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $226,368.41 | 211,111 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2046 | 3.34 |
| Federal National Mortgage Assn. | 0.01% | N/A | $223,977.21 | 211,037 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jul-2050 | 3.58 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $217,463.24 | 190,729 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2040 | 3.97 |
| Sequoia Mortgage Trust 2018-CH4 | 0.01% | -0.01 | $211,457.92 | 208,160 | Mortgage Backed Securities | Whole Loans Backed | United States | 4.50% | Aaa | 25-Oct-2048 | 1.55 |
| Federal National Mortgage Assn. | 0.01% | N/A | $210,002.69 | 193,488 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2050 | 2.68 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $201,605.84 | 183,715 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Nov-2040 | 3.42 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $199,082.01 | 183,703 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Aug-2047 | 2.51 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $192,875.14 | 174,243 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jul-2046 | 4.14 |
| Government National Mortgage Assn. | 0.01% | N/A | $181,410.40 | 169,796 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 20-Mar-2046 | 2.80 |
| Edison International | 0.01% | -0.00 | $178,823.03 | 160,000 | Corporate Securities | Utilities | United States | 4.95% | Baa3 | 15-Apr-2025 | 3.41 |
| Federal National Mortgage Assn. | 0.01% | N/A | $166,448.12 | 153,901 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Aug-2048 | 3.13 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $160,001.12 | 148,044 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Sep-2047 | 2.46 |
| Freddie Mac REMICS | 0.01% | -0.00 | $155,094.45 | 931,781 | Mortgage Backed Securities | Agency Bkd CMO | United States | 4.50% | NR | 25-May-2050 | -3.96 |
| Cyprus Government International Bond | 0.01% | -0.00 | $145,695.52 | 120,000 | Government | Foreign Govt & Muni (Excl Canadian) | Cyprus | 1.25% | Ba2 | 21-Jan-2040 | 16.86 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $144,861.75 | 132,128 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Jan-2048 | 3.26 |
| Federal Home Loan Mortgage | 0.01% | -0.00 | $142,864.28 | 130,081 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2041 | 3.23 |
| Intelsat Jackson Holdings | 0.01% | N/A | $135,760.05 | 135,000 | Corporate Securities | Satellites | United States | 6.50% | NR | 13-Jul-2022 | 0.00 |
| Government National Mortgage Assn. | 0.01% | -0.00 | $135,210.02 | 124,847 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-May-2048 | 2.82 |
| FNMA 30 YR | 0.01% | N/A | $128,280.23 | 123,661 | Mortgage Backed Securities | Mortgages | United States | 2.50% | NR | 01-Dec-2050 | 5.41 |
| Hilton Grand Vacations Trust 2017 | 0.01% | -0.00 | $122,461.64 | 119,947 | Asst Backed Securities | Asset Backed Other | United States | 2.96% | NR | 26-Dec-2028 | 1.36 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $116,137.23 | 101,493 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2035 | 3.47 |
| Federal National Mortgage Assn. | 0.01% | N/A | $109,843.59 | 101,353 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jan-2050 | 3.25 |
| Federal National Mortgage Assn. | 0.01% | -0.00 | $101,063.16 | 93,954 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Dec-2045 | 3.34 |
| Occidental Petroleum | 0.01% | -0.00 | $97,068.50 | 94,000 | Corporate Securities | Energy | United States | 2.70% | Ba2 | 15-Feb-2023 | 1.36 |
| MVW Owner Trust 2017-1 | 0.00% | -0.00 | $78,304.23 | 77,129 | Asst Backed Securities | Asset Backed Other | United States | 2.99% | NR | 20-Dec-2034 | 2.24 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $77,782.90 | 68,222 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Oct-2034 | 3.36 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $69,666.86 | 64,269 | Mortgage Backed Securities | Mortgages | United States | 3.50% | NR | 01-Jan-2046 | 3.97 |
| MVW Owner Trust 2017-1 | 0.00% | -0.00 | $65,137.06 | 63,873 | Asst Backed Securities | Asset Backed Other | United States | 2.75% | NR | 20-Dec-2034 | 2.25 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $64,642.34 | 59,460 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Mar-2047 | 2.51 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $62,821.06 | 56,458 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Mar-2046 | 4.15 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $61,994.66 | 56,024 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jan-2044 | 4.15 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $55,660.55 | 48,721 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Apr-2040 | 3.97 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $54,965.99 | 49,331 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2041 | 3.68 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $54,351.37 | 48,748 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Feb-2040 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $52,997.41 | 45,367 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Jun-2038 | 3.82 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $52,081.65 | 47,646 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2040 | 3.59 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $50,460.66 | 43,432 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Apr-2035 | 3.53 |
| Federal National Mortgage Assn. | 0.00% | N/A | $49,749.66 | 46,573 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2049 | 3.04 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $43,511.67 | 37,923 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2035 | 3.47 |
| Venezuela Government International Bond | 0.00% | -0.00 | $43,000.00 | 400,000 | Government | Foreign Govt & Muni (Excl Canadian) | Venezuela | 7.75% | NR | 13-Oct-2021 | 0.37 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $41,530.65 | 37,888 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2041 | 3.34 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $41,254.04 | 34,618 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Oct-2038 | 3.77 |
| Petroleos De Venezuela | 0.00% | -0.00 | $34,650.00 | 770,000 | Corporate Securities | Energy | Venezuela | 6.00% | NR | 16-May-2024 | 0.20 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $34,237.68 | 29,819 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Nov-2035 | 3.57 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $33,470.09 | 28,777 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Apr-2036 | 3.63 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $32,304.79 | 29,322 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Aug-2047 | 3.58 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $29,495.33 | 26,484 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Aug-2040 | 3.68 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $29,290.48 | 26,679 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jan-2041 | 3.34 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $26,748.40 | 22,446 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Feb-2037 | 3.77 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $25,896.57 | 22,674 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2037 | 3.36 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $24,550.85 | 21,467 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Aug-2040 | 3.93 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $24,076.81 | 21,964 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Mar-2041 | 3.62 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $23,884.58 | 20,071 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Aug-2037 | 3.75 |
| Petroleos De Venezuela | 0.00% | -0.00 | $23,205.00 | 510,000 | Corporate Securities | Energy | Venezuela | 9.00% | NR | 17-Nov-2021 | 0.25 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $22,138.30 | 19,858 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Dec-2039 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $21,769.98 | 19,526 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Sep-2039 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $20,553.72 | 18,722 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2042 | 3.62 |
| Venezuela Government International Bond | 0.00% | -0.00 | $20,295.00 | 205,000 | Government | Foreign Govt & Muni (Excl Canadian) | Venezuela | 6.00% | NR | 09-Dec-2021 | 0.55 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $19,107.20 | 17,593 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 20-Jul-2047 | 2.51 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $18,506.27 | 16,103 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Nov-2036 | 3.58 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $18,200.98 | 15,648 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Nov-2035 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $17,832.38 | 15,894 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2034 | 3.36 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $17,713.73 | 15,452 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2035 | 3.47 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $17,605.11 | 15,806 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2040 | 3.68 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $16,962.21 | 15,447 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2041 | 3.46 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $16,922.03 | 15,069 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Mar-2034 | 3.36 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $16,804.21 | 15,238 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-May-2042 | 3.67 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $16,219.16 | 13,949 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Mar-2036 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $16,165.04 | 13,898 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Feb-2038 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $14,858.57 | 13,329 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Aug-2039 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $14,837.88 | 13,532 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Feb-2041 | 3.34 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $12,595.92 | 10,638 | Mortgage Backed Securities | Mortgages | United States | 6.50% | NR | 01-Sep-2036 | 3.75 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $12,503.63 | 11,345 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Oct-2040 | 3.32 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $12,167.54 | 10,582 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2040 | 3.98 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $12,075.21 | 10,386 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Dec-2035 | 3.52 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $11,927.83 | 10,633 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-May-2042 | 4.06 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $11,809.99 | 10,592 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Nov-2039 | 3.76 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $11,308.93 | 10,134 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jun-2039 | 3.73 |
| Government National Mortgage Assn. | 0.00% | 0.00 | $10,965.81 | 9,992 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 20-Sep-2040 | 3.42 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $10,801.94 | 9,065 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Mar-2037 | 3.77 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $10,573.61 | 9,638 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2041 | 3.34 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $10,418.31 | 9,410 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jul-2039 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $10,276.03 | 9,213 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Sep-2042 | 3.05 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $10,050.88 | 8,797 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2033 | 3.36 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $9,768.05 | 8,197 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Aug-2037 | 3.77 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $9,461.70 | 7,939 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-Feb-2039 | 3.81 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $7,706.76 | 6,907 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Aug-2040 | 3.68 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $7,632.90 | 6,410 | Mortgage Backed Securities | Mortgages | United States | 6.00% | NR | 01-May-2038 | 3.81 |
| Government National Mortgage Association | 0.00% | 0.00 | $7,373.31 | 49,809 | Mortgage Backed Securities | Agency Bkd CMO | United States | 4.00% | NR | 20-Feb-2043 | -8.87 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $6,621.22 | 6,131 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Nov-2049 | 3.24 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $6,322.64 | 5,576 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Aug-2040 | 3.93 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $6,031.34 | 5,501 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Nov-2040 | 3.32 |
| Government National Mortgage Assn. | 0.00% | -0.00 | $5,935.98 | 5,223 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 20-Mar-2041 | 4.08 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $5,771.40 | 4,940 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Oct-2038 | 3.84 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $5,591.91 | 5,055 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Dec-2039 | 3.74 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $5,511.53 | 4,934 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Jan-2042 | 3.76 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $5,213.81 | 4,570 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Feb-2042 | 4.13 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $4,782.08 | 4,111 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Feb-2038 | 3.63 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $4,578.48 | 4,133 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Oct-2039 | 3.73 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $4,505.31 | 3,940 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jun-2041 | 3.97 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $4,226.09 | 3,866 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Oct-2040 | 3.32 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $4,180.62 | 3,635 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Jul-2040 | 3.93 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $3,255.33 | 2,969 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Jan-2041 | 3.32 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $2,443.49 | 2,101 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Apr-2035 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $2,092.77 | 1,791 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Jan-2039 | 3.82 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $2,048.52 | 1,834 | Mortgage Backed Securities | Mortgages | United States | 4.50% | NR | 01-Aug-2040 | 3.68 |
| Federal Home Loan Mortgage | 0.00% | 0.00 | $1,994.92 | 1,821 | Mortgage Backed Securities | Mortgages | United States | 4.00% | NR | 01-Dec-2040 | 3.32 |
| Mriya Farming | 0.00% | 0.00 | $1,512.85 | 127,586 | Consumer Staples | Food Products | United Kingdom | N/A | N/A | N/A | N/A |
| Federal National Mortgage Assn. | 0.00% | 0.00 | $1,417.39 | 1,219 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Aug-2037 | 3.63 |
| Federal National Mortgage Assn. | 0.00% | -0.00 | $738.40 | 635 | Mortgage Backed Securities | Mortgages | United States | 5.50% | NR | 01-Aug-2037 | 3.63 |
| Petroleos De Venezuela | 0.00% | -0.00 | $680.55 | 15,000 | Corporate Securities | Energy | Venezuela | 12.75% | NR | 17-Feb-2022 | 0.01 |
| Federal Home Loan Mortgage | 0.00% | -0.00 | $633.50 | 551 | Mortgage Backed Securities | Mortgages | United States | 5.00% | NR | 01-Apr-2040 | 3.93 |
| Government National Mortgage Association | 0.00% | -0.00 | $145.32 | 5,304 | Mortgage Backed Securities | Agency Bkd CMO | United States | 4.50% | NR | 20-Dec-2039 | -23.46 |
| Mriya Farming | 0.00% | 0.00 | $10.69 | 773 | Consumer Staples | Food Products | United Kingdom | N/A | N/A | N/A | N/A |
N/A indicates Not Available.
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Please note that holdings are released 15 days after the period end. From time to time, certain securities held may not be listed.
Sector Diversification (30-Jun-2021)
Representative Portfolio vs Benchmark| Sector Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Securitized | 14.98% | 2.95% | |
| Global High Yield | 11.83% | 0.00% | |
| Emerging Market Corporates | 11.84% | 0.74% | |
| Cash & Equivalents | -0.52% | 0.00% | |
| U.S. Mortgage | 7.74% | 10.43% | |
| Global Investment Grade | 7.37% | 18.01% | |
| Global Sovereign | 46.76% | 67.87% |
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
T. Rowe Price uses a custom structure for sector and industry reporting for this product. Source: T. Rowe Price.
Currency Diversification (30-Jun-2021)
Representative Portfolio vs Benchmark| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| U.S. dollar | 82.93% | 42.03% | |
| Mexican peso | 1.49% | 0.26% | |
| Australian dollar | 0.01% | 1.48% | |
| Canadian dollar | 0.00% | 2.87% | |
| New Zealand dollar | 0.00% | 0.16% | |
| Dollar Bloc Subtotal | 84.43% | 46.80% |
Benchmark : Bloomberg Global Aggregate Bond USD Hedged Index
| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| euro | 4.91% | 23.49% | |
| British pound sterling | 2.00% | 5.01% | |
| Czech koruna | 1.25% | 0.13% | |
| Danish krone | 0.00% | 0.19% | |
| Hungarian forint | 0.00% | 0.09% | |
| Norwegian krone | 0.00% | 0.10% | |
| Swedish krona | 0.00% | 0.43% | |
| Swiss franc | 0.00% | 0.50% | |
| Polish zloty | -0.09% | 0.20% | |
| European Bloc Subtotal | 8.08% | 30.14% |
Benchmark : Bloomberg Global Aggregate Bond USD Hedged Index
| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Japanese yen | 3.48% | 13.28% | |
| Korean won | 1.75% | 1.15% | |
| Malaysian ringgit | 1.60% | 0.29% | |
| Thai baht | 0.00% | 0.29% | |
| Hong Kong dollar | 0.00% | 0.02% | |
| Singapore dollar | -0.01% | 0.19% | |
| Far East Bloc Subtotal | 6.82% | 15.23% |
Benchmark : Bloomberg Global Aggregate Bond USD Hedged Index
| Currency Diversification | % of Portfolio | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Chinese renminbi | 6.40% | 6.88% | |
| Russian ruble | 0.97% | 0.17% | |
| Egyptian pound | 0.75% | 0.00% | |
| New Ghana cedi | 0.49% | 0.00% | |
| Indonesian rupiah | 0.48% | 0.36% | |
| Serbia dinar | 0.02% | 0.00% | |
| Israeli shekel | 0.02% | 0.15% | |
| Brazilian real | 0.02% | 0.00% | |
| South African rand | 0.00% | 0.00% | |
| Colombian peso | 0.00% | 0.09% | |
| New Romanian leu | 0.00% | 0.07% | |
| Peruvian nuevo sol | 0.00% | 0.05% | |
| Indian rupee | -0.02% | 0.00% | |
| Chilean peso | -0.05% | 0.05% | |
| Offshore Chinese renminbi | -8.41% | 0.00% | |
| Emerging Markets Bloc Subtotal | 0.67% | 7.83% |
Benchmark : Bloomberg Global Aggregate Bond USD Hedged Index
Numbers may not add due to rounding and/or the exclusion of reserves and other assets.
Strategies with co-portfolio managers display the manager with the longer tenure.
Holdings information and other breakdowns (such as country and currency) are related to those of representative portfolio ("Portfolio"). The Portfolio is an account in the composite we believe most closely reflects current portfolio management style for the strategy. Performance is not a consideration in the selection of the representative portfolio. The characteristics of the representative portfolio shown may differ from those of other accounts in the strategy. Please see the GIPS® Disclosure page for additional information on the composite.
The specific securities identified and described above do not represent all of the securities purchased, sold or recommended for advisory clients and no assumptions should be made that investments in the securities identified and discussed were or will be profitable.
Effective 1 January 2019, Ken Orchard assumed portfolio management responsibility for the Global Multi-Sector Bond Strategy.
Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
Kenneth Orchard is a senior portfolio manager in the Fixed Income Division and a member of the Global Fixed Income Investment team. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.