EuroPac International Bond Fund
SCHEDULE OF INVESTMENTS
As of January 31, 2024 (Unaudited)
Number of Shares | Value | |
COMMON STOCKS — 0.0% | ||
UNITED STATES — 0.0% | ||
118 | Hycroft Mining Holding Corp. * | $237 |
TOTAL COMMON STOCKS | ||
(Cost $1,559,793) | 237 |
Principal Amount1 | ||
FIXED INCOME SECURITIES — 93.1% | ||
ARGENTINA — 1.0% | ||
48,000,000 | Argentina Treasury Bond BONCER 2.000%, 11/9/2026 | 613,104 |
AUSTRALIA — 5.4% | ||
2,050,000 | Australia Government Bond 1.250%, 5/21/2032 | 1,090,825 |
1,000,000 | BHP Billiton Finance Ltd. 5.625%, 10/22/20792,3 | 1,090,835 |
1,000,000 | Newcrest Finance Pty Ltd. 5.750%, 11/15/20414 | 1,051,998 |
3,233,658 | ||
BRAZIL — 4.7% | ||
13,500,000 | Brazilian Government International Bond 10.250%, 1/10/2028 | 2,820,575 |
CANADA — 5.2% | ||
1,500,000 | Bank of Nova Scotia 2.490%, 9/23/2024 | 1,097,334 |
1,500,000 | Bell Canada, Inc. 2.500%, 5/14/20302 | 987,823 |
1,500,000 | Pembina Pipeline Corp. 3.310%, 2/1/20302 | 1,027,993 |
3,113,150 | ||
CHILE — 4.3% | ||
2,200,000,000 | Bonos de la Tesoreria de la Republica en pesos 6.000%, 4/1/20334 | 2,529,392 |
COLOMBIA — 3.4% | ||
8,150,000,000 | Colombia Government International Bond 9.850%, 6/28/2027 | 2,033,189 |
DOMINICAN REPUBLIC — 1.1% | ||
37,000,000 | Dominican Republic International Bond 9.750%, 6/5/2026 | 634,122 |
EuroPac International Bond Fund
SCHEDULE OF INVESTMENTS - Continued
As of January 31, 2024 (Unaudited)
Principal Amount1 | Value | |
FIXED INCOME SECURITIES (Continued) | ||
FRANCE — 2.2% | ||
1,200,000 | TotalEnergies S.E. 3.369% 2,3,5 | $1,273,395 |
GERMANY — 4.4% | ||
48,700,000 | Kreditanstalt fuer Wiederaufbau 4.400%, 7/25/2025 | 2,605,520 |
IRELAND — 1.8% | ||
1,000,000 | Glencore Capital Finance DAC 0.500%, 9/7/20282 | 1,088,691 |
LUXEMBOURG — 4.2% | ||
European Investment Bank | ||
24,500,000,000 | 5.750%, 1/24/2025 | 1,547,630 |
18,000,000 | 6.500%, 7/7/2027 | 958,654 |
2,506,284 | ||
MALTA — 1.5% | ||
9,000,000 | Gaming Innovation Group PLC 11.285% (Stockholm Interbank Offered Rates 3 Month + 725 basis points), 12/18/20262,6 | 871,314 |
MEXICO — 6.8% | ||
17,850,000 | America Movil S.A.B. de C.V. 9.500%, 1/27/20312 | 1,009,749 |
Mexican Bonos | ||
15,000,000 | 5.750%, 3/5/2026 | 804,305 |
20,000,000 | 7.750%, 11/23/2034 | 1,044,000 |
21,000,000 | Petroleos Mexicanos 7.190%, 9/12/2024 | 1,173,006 |
4,031,060 | ||
NORWAY — 5.0% | ||
Aker A.S.A. | ||
4,000,000 | 6.650% (Oslo Bors Norway Interbank Offered Rate Fixing 3 Month + 190 basis points), 11/22/20242,6 | 381,657 |
5,000,000 | 6.275%, 9/27/2027 | 485,692 |
5,000,000 | City of Oslo Norway 1.320%, 2/16/2028 | 424,339 |
10,000,000 | DNB Bank A.S.A. 7.050% (Oslo Bors Norway Interbank Offered Rate Fixing 3 Month + 230 basis points), 5/28/20302,6 | 960,746 |
EuroPac International Bond Fund
SCHEDULE OF INVESTMENTS - Continued
As of January 31, 2024 (Unaudited)
Principal Amount1 | Value | |
FIXED INCOME SECURITIES (Continued) | ||
NORWAY (Continued) | ||
7,597,094 | Lime Petroleum A.S. 13.970% (Oslo Bors Norway Interbank Offered Rate Fixing 3 Month + 925 basis points), 7/7/20252,4,6 | $744,013 |
2,996,447 | ||
PERU — 2.4% | ||
5,400,000 | Peruvian Government International Bond 5.940%, 2/12/2029 | 1,447,980 |
PHILIPPINES — 9.2% | ||
Asian Development Bank | ||
132,000,000 | 6.200%, 10/6/2026 | 1,572,356 |
100,000,000 | 6.150%, 2/25/2030 | 1,166,498 |
165,000,000 | Philippine Government International Bond 6.250%, 1/14/2036 | 2,737,074 |
5,475,928 | ||
SINGAPORE — 3.7% | ||
1,000,000 | Housing & Development Board 2.320%, 1/24/2028 | 723,475 |
2,000,000 | Singapore Government Bond 2.125%, 6/1/2026 | 1,462,244 |
2,185,719 | ||
SOUTH KOREA — 3.8% | ||
35,500,000,000 | Export-Import Bank of Korea 7.250%, 12/7/2024 | 2,260,032 |
SWEDEN — 1.5% | ||
800,000 | Betsson A.B. 10.416% (3-Month Euribor + 650 basis points), 6/23/20252,6 | 904,079 |
THAILAND — 2.4% | ||
47,000,000 | Thailand Government Bond 3.390%, 6/17/2037 | 1,404,734 |
UNITED KINGDOM — 8.2% | ||
1,000,000 | BP Capital Markets PLC 3.250% 2,3,5 | 1,048,335 |
European Bank for Reconstruction & Development | ||
86,000,000 | 2.000%, 2/5/2024 | 1,527,667 |
75,000,000 | 5.150%, 2/16/2024 | 903,770 |
370,000 | Rolls-Royce PLC 1.625%, 5/9/20282 | 364,109 |
EuroPac International Bond Fund
SCHEDULE OF INVESTMENTS - Continued
As of January 31, 2024 (Unaudited)
Principal Amount1 | Value | |
FIXED INCOME SECURITIES (Continued) | ||
UNITED KINGDOM (Continued) | ||
1,000,000 | Vodafone Group PLC 4.200%, 10/3/20782,3 | $1,058,484 |
4,902,365 | ||
UNITED STATES — 10.9% | ||
41,500,000,000 | Inter-American Development Bank 5.100%, 11/17/2026 | 2,581,902 |
International Bank for Reconstruction & Development | ||
75,000,000 | 6.000%, 1/16/2025 | 896,872 |
2,000,000 | 9.750%, 1/21/2027 | 413,112 |
18,500,000,000 | 6.500%, 12/8/2027 | 1,199,370 |
26,000,000 | International Finance Corp. 7.000%, 7/20/2027 | 1,404,270 |
6,495,526 | ||
TOTAL FIXED INCOME SECURITIES | ||
(Cost $57,579,536) | 55,426,264 |
Number of Shares | ||
SHORT-TERM INVESTMENTS — 5.0% | ||
2,949,721 | Federated Hermes Treasury Obligations Fund - Institutional Class, 5.123% 7 | 2,949,721 |
Total Short-Term Investments | ||
(Cost $2,949,721) | 2,949,721 | |
TOTAL INVESTMENTS — 98.1% | ||
(Cost $62,089,050) | 58,376,222 | |
Other Assets in Excess of Liabilities — 1.9% | 1,145,523 | |
TOTAL NET ASSETS — 100.0% | $59,521,745 |
PLC – Public Limited Company |
*Non-income producing security. |
1Local currency. |
2Callable. |
3Variable rate security. |
4Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $4,325,403, which represents 7.27% of Net Assets. |
5Perpetual security. Maturity date is not applicable. |
6Floating rate security. |
7The rate is the annualized seven-day yield at period end. |