| JBS, 2.5% 15jan2027, USD (USL5S59NAB13) |
| Banco Bradesco (Grand Cayman Branch), 4.375% 18mar2027, USD (580) (US05947LBA52) |
| OEC, 7% 21oct2024, USD (USG6714RAA52) |
| JBS, 2.5% 15jan2027, USD (USL5S59NAB13) |
| Banco Bradesco (Grand Cayman Branch), 4.375% 18mar2027, USD (580) (US05947LBA52) |
| Independencia, 12% 30dec2016, USD (USG4756WAD23) |
| Minerva SA, 6.5% 20sep2026, USD (USL6401PAF01) |
| Azul Linhas Aereas Brasileiras, FRN 18dec2021, BRL (009/001) (BRAZLADBS084) |
| Constellation Oil Services Holding, 6.25% 9nov2030, USD (USL1965HAE01) |
| Constellation Oil Services Holding, 0.5% 31dec2050, USD (US21038MAL72) |
| Constellation Oil Services Holding, 6.25% 9nov2030, USD (USL1965HAE01) |
| Constellation Oil Services Holding, 0.5% 31dec2050, USD (US21038MAL72) |
| Cia Siderurgica Nacional (CSN), 7.0% perp., USD (USG2585XAA75) |
| Cimento Tupi, 9.75% 11may2018, USD (USP9159EAA03) |
| GP Investments, 10% perp., USD (XS0282340230) |
| Petrobras, 6.250% 14dec2026, GBP (XS0718502007) |
| OAS, 8.25% 19oct2019, USD (USA57902AA51) |
| Banco Votorantim, 8.25% perp., USD (USP1516SFH42) |
| Suzano, 5% 15jan2030, USD (USA8372TAK46) |
| Banco Votorantim, 4.5% 24sep2024, USD (XS2055749720) |
| Prumo Participacoes e Investimentos, 7.5% 31dec2031, USD (USP7922DAB03) |
| Itau Unibanco (Grand Cayman Branch), 4.5% 21nov2029, USD (US46556MAM47) |
| Eletrobras, 3.625% 4feb2025, USD (USP22835AA30) |
| Rio Smart Lighting, 12.25% 20sep2032, BRL (USL79820AA10) |
| Globo, 5.5% 14jan2032, USD (USP47777AC43) |
| Eletrobras, 3.625% 4feb2025, USD (USP22835AA30) |
| Rio Smart Lighting, 12.25% 20sep2032, BRL (USL79820AA10) |
| Globo, 5.5% 14jan2032, USD (USP47777AC43) |
| Light, 0% 19dec2039, USD (5477D) (US53223NAA72) |
| Raizen Energia, 6.7% 25feb2037, USD (USL7909CAG26) |
| Petrobras, 6.75% 27jan2041, USD (US71645WAS08) |
| Grupo Virgolino de Oliveira, 10.5% 28jan2018, USD (USG9372JAA00) |
| Votorantim Cimentos, 7.25% 5apr2041, USD (USP98088AA83) |
| BNDES, 4.75% 9may2024, USD (USP14486AM92) |
| Itau Unibanco (Grand Cayman Branch), 3.25% 24jan2025, USD (US46556KAB26) |
| Banco BTG Pactual, 2.75% 11jan2026, USD (US05971BAG41) |
| Itau Unibanco (Grand Cayman Branch), 3.25% 24jan2025, USD (US46556KAB26) |
| Banco BTG Pactual, 2.75% 11jan2026, USD (US05971BAG41) |
| Azul Linhas Aereas Brasileiras, FRN 28jan2030, USD (USU0551YAH81) |
| Oi S.A., 9.5% 23apr2019, USD (USP9037HAK97) |
| Oi S.A., 9.75% 15sep2016, BRL (USP18445AF68) |
| Samarco Mineracao, 4.125% 1nov2022, USD (USP84050AA46) |
| JBS, 7.25% 3apr2024, USD (USA29866AB53) |
| Rio Oil, 6.25% 6jul2024, USD (USU76673AA72) |
| Embraer, 5.05% 15jun2025, USD (US29082HAA05) |
| Rodovias do Tiete, 8% 15jun2028, BRL (001) (BRRDVTDBS001) |
| Oi S.A., 8.75% 30jul2026, USD (XS2370808318) |
| Coelba, 5.8224% 15oct2031, BRL (013/003) (BRCEEBDBS0I9) |
| Oi S.A., 8.75% 30jul2026, USD (XS2370808318) |
| Coelba, 5.8224% 15oct2031, BRL (013/003) (BRCEEBDBS0I9) |
| Equatorial Goias Distribuidora de Energia, FRN 25nov2031, BRL (009/001) (BRCGOSDBS0B1) |
| Uniao Comercial Barao, FRN 12dec2029, BRL (001/001) (BRUCBLDBS006) |
| Banco do Brasil (Grand Cayman Branch), 8.50% perp., USD (USP3772WAA01) |
| Taf Linhas Aereas, 5% 16jun2022, USD (XS1819973469) |
| Banco do Brasil (London Branch), 9.5% 30apr2026, BRL (XS1989895922) |
| Tonon, 6.5% 31oct2024, USD (USL9116PAG83) |
| OEC, 4.375% 25oct2029, USD (USG6714RAD91) |
| Fortbras Autopecas, FRN 10mar2027, BRL (001/001) (BRFOAUDBS005) |
| OEC, 4.375% 25oct2029, USD (USG6714RAD91) |
| Fortbras Autopecas, FRN 10mar2027, BRL (001/001) (BRFOAUDBS005) |
| Equatorial Goias Distribuidora de Energia, FRN 15sep2036, BRL (008/002) (BRCGOSDBS0A3) |
| Itau Unibanco (Grand Cayman Branch), 5.125% 13may2023, USD (US46556MAJ18) |
| Embraer, 5.696% 16sep2023, USD (USG30376AB69) |
| Gerdau, 5.893% 29apr2024, USD (USG24422AA83) |
| Grupo Virgolino de Oliveira, 10.875% 13jan2020, USD (USL9668KAB28) |
| Samarco Mineracao, 5.375% 26sep2023, USD (USP84050AC02) |
| Rede Dor Sao Luiz, 4.95% 17jan2028, USD (USL7915RAA43) |
| Natura Cosmeticos, 5.375% 1feb2023, USD (USP7088CTF33) |
| Novonor, 7.35% 1dec2026, USD (USG67106AC18) |
| Constellation Oil Services Holding, 10% 9nov2024, USD (USL1965HAA88) |
| Impar Servicos Hospitalares, FRN 10dec2024, BRL (001/001) (BRIMPADBS003) |
| Localiza Rent a Car, 5.4702% 15mar2031, BRL (017/001) (BRRENTDBS0K7) |
| Vamos Locacao, 6.3605% 15jun2031, BRL (003/003) (BRVAMODBS041) |
| Ifin Participacoes, 7.1% 15sep2033, BRL (001/001) (BRIFPTDBS007) |
| Serra do Serido F1 Holding, FRN 30jul2023, BRL (001/001) (BRSERSDBS007) |
| Light Servicos de Eletricidade, FRN 15oct2028, BRL (023/002) (BRLIGHDBS0Z0) |
| Banco Votorantim, 3.9% 7jul2023, USD (XS2499942865) |
| Constellation Oil Services Holding, 10% 9nov2024, USD (USL1965HAA88) |
| Impar Servicos Hospitalares, FRN 10dec2024, BRL (001/001) (BRIMPADBS003) |
| Localiza Rent a Car, 5.4702% 15mar2031, BRL (017/001) (BRRENTDBS0K7) |
| Vamos Locacao, 6.3605% 15jun2031, BRL (003/003) (BRVAMODBS041) |
| Ifin Participacoes, 7.1% 15sep2033, BRL (001/001) (BRIFPTDBS007) |
| Serra do Serido F1 Holding, FRN 30jul2023, BRL (001/001) (BRSERSDBS007) |
| Light Servicos de Eletricidade, FRN 15oct2028, BRL (023/002) (BRLIGHDBS0Z0) |
| Banco Votorantim, 3.9% 7jul2023, USD (XS2499942865) |
| Banco BTG Pactual (Cayman Branch), 5.75% 22jan2030, USD (US05971BAL36) |
| Eletrobras, 5.75% 27oct2021, USD (USP22854AG14) |
| Banrisul, 7.375% 2feb2022, USD (USP12445AA33) |
| Banco Bradesco (Grand Cayman Branch), 5.75% 1mar2022, USD (USG0732RAG32) |
| JBS, 6.25% 5feb2023, USD (USA9617TAA90) |
| Banco Santander (Brasil), 7.375% perp., USD (US05967AAA51) |
| Oi S.A., 5% 4nov2019, EUR (XS0462994343) |
| Oi S.A., 4.5% 16jun2025, EUR (XS0221854200) |
| Rio Oil, 9.75% 6jan2027, USD (USU76673AB55) |
| Votorantim Cimentos, 5.75% 28jan2027, USD (USC86068AA80) |
| NC Energia, 7.891% 15dec2025, BRL (1) (BRNCENDBS001) |
| EDTE - Empresa Diamantina de Transmissao de Energia, 5.2939% 15dec2028, BRL (002/001) (BREDITDBS014) |
| Klabin, 3.2% 12jan2031, USD (USA35155AE99) |
| Lojas Americanas, 7.4% 15oct2030, BRL (016/001) (BRAMERDBS081) |
| OEC, 7.875% 27dec2033, USD (USG6714RAE74) |