Portfolio concentration
As of January 31, 2026 ·
N-PORT
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
81
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
39.3
Holdings
As of January 31, 2026 · N-PORT
| # | Security | Ticker | Shares | Value | % of fund |
|---|
| 1 |
Franklin Institutional US Government Money Market Fund |
INFXX |
5,219,030 |
$5.22M |
3.79% |
| 2 |
Republic of El Salvador |
— |
2,900,000 |
$3.02M |
2.19% |
| 3 |
ETHOPI 6.625 12/11/24 144A |
ETHOPI |
2,700,000 |
$2.86M |
2.08% |
| 4 |
Republic of Cote d'Ivoire |
— |
2,340,000 |
$2.74M |
1.99% |
| 5 |
MEXICAN BONOS MXN 8.0% 11-07-47 |
— |
54,182,500 |
$2.73M |
1.99% |
| 6 |
TURKIYE GOVERNMENT BOND TRY 36.0% 08-12-26 |
— |
114,600,000 |
$2.68M |
1.95% |
| 7 |
Brazil Government Bond |
— |
15,290,686 |
$2.65M |
1.93% |
| 8 |
Republic of Angola |
ANGOL |
2,447,000 |
$2.40M |
1.74% |
| 9 |
SOUTH AFRICA REPUBLIC OF 8.75% 02/28/2048 |
— |
37,850,000 |
$2.32M |
1.68% |
| 10 |
UKRAINE GOVT |
UKRAIN |
2,881,000 |
$2.30M |
1.67% |
| 11 |
Cameroon Government Bond |
— |
2,130,000 |
$2.22M |
1.61% |
| 12 |
REPUBLIC OF IRAQ 01/15/2028 5.8% |
IRAQ |
2,121,875 |
$2.11M |
1.54% |
| 13 |
PETROLEOS MEXICANOS SR UNSEC SF 6.7% 02-16-32 |
PEMEX |
2,050,000 |
$2.05M |
1.49% |
| 14 |
REPUBLIC OF MONTENEGRO 4.875% 04/01/2032 144A |
— |
1,650,000 |
$2.01M |
1.46% |
| 15 |
Tunisian Republic |
— |
350,000,000 |
$2.01M |
1.46% |
| 16 |
Nigerian Petroleum Corp. |
— |
2,000,000 |
$1.99M |
1.45% |
| 17 |
Republic of Mozambique |
— |
2,271,000 |
$1.98M |
1.44% |
| 18 |
Gabon, Government of |
— |
2,250,000 |
$1.89M |
1.37% |
| 19 |
Nigeria Government Bonds |
— |
2,479,414,000 |
$1.83M |
1.33% |
| 20 |
Romanian Government International Bond |
— |
1,370,000 |
$1.66M |
1.21% |
| 21 |
ADANI ELECTRICITY MUMBAI SR SECURED 144A 02/30 3.949 |
— |
1,760,000 |
$1.65M |
1.20% |
| 22 |
REPUBLIC OF GHANA 5.000000% 07/03/2035 |
— |
1,700,000 |
$1.56M |
1.13% |
| 23 |
Romanian Government International Bond |
— |
1,450,000 |
$1.55M |
1.13% |
| 24 |
PKSTAN 7 3/8 04/08/31 |
PKSTAN |
1,510,000 |
$1.52M |
1.11% |
| 25 |
SURINM 8 1/2 11/06/35 |
SURINM |
1,400,000 |
$1.51M |
1.10% |
| 26 |
GDZ Elektrik Dagitim AS |
— |
1,500,000 |
$1.50M |
1.09% |
| 27 |
Congolese International Bonds |
— |
1,600,000 |
$1.49M |
1.08% |
| 28 |
REPUBLIC OF BENIN 8.375% 01/23/2041 144A |
— |
1,400,000 |
$1.49M |
1.08% |
| 29 |
GABON GOVERNMENT INTERNATIONAL BOND 144A LIFE SF 6.625% 02-06-31 |
GABON |
1,740,000 |
$1.49M |
1.08% |
| 30 |
UZBEKNEFTEGAZ SR UNSECURED 144A 05/30 8.75 |
UNGUZB |
1,350,000 |
$1.46M |
1.06% |
| 31 |
HONDURAS GOVERNMENT INTERNATIONAL BOND 144A LIFE 5.625% 06-24-30 |
— |
1,445,000 |
$1.46M |
1.06% |
| 32 |
Egypt Government Bonds |
— |
66,275,000 |
$1.45M |
1.05% |
| 33 |
Venezuela Government Bond |
— |
925,920 |
$1.44M |
1.05% |
| 34 |
The Hashemite Kingdom of Jordan, The Government of |
JORDAN |
1,450,000 |
$1.44M |
1.04% |
| 35 |
Jordan Government International Bond |
— |
1,400,000 |
$1.41M |
1.03% |
| 36 |
Uganda Government Bond |
— |
5,029,500,000 |
$1.40M |
1.01% |
| 37 |
Republic of Guatemala |
GUATEM |
1,425,000 |
$1.39M |
1.01% |
| 38 |
Kazakhstan MEUKAM |
— |
870,900,000 |
$1.38M |
1.00% |
| 39 |
Presidencia da Republica |
BRIG |
1,870,000 |
$1.38M |
1.00% |
| 40 |
Istanbul Metropolitan Municipality |
— |
1,245,000 |
$1.37M |
1.00% |
| 41 |
KZOKZ 5 3/4 04/19/47 |
67AF |
1,450,000 |
$1.36M |
0.99% |
| 42 |
TURKIYE REP OF |
TURKEY |
1,800,000 |
$1.36M |
0.99% |
| 43 |
Bulgaria Government International Bond |
— |
1,990,000 |
$1.34M |
0.97% |
| 44 |
KOSMOS ENERGY LTD COMPANY GUAR 144A 10/31 8.75 |
KOS |
2,100,000 |
$1.33M |
0.96% |
| 45 |
SOUTH AFRICA REPUBLIC OF 5.75% 09/30/2049 |
SOAF |
1,600,000 |
$1.32M |
0.96% |
| 46 |
Digicel International Finance Ltd / Difl US LLC |
— |
1,250,000 |
$1.30M |
0.94% |
| 47 |
MC BRAZIL DOWNSTREAM TRADING S SR SECURED 144A 06/31 7.25 |
UMUB |
1,313,944 |
$1.17M |
0.85% |
| 48 |
Bono Del Tesoro Nacional Capitalizable en Pesos |
— |
1,720,000,000 |
$1.16M |
0.84% |
| 49 |
Egypt Government International Bond |
ZO30 |
1,310,000 |
$1.12M |
0.81% |
| 50 |
ARGENTINA |
— |
1,435,000 |
$1.11M |
0.81% |
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