T. Rowe Price Global Multi-Sector Bond Fund 12/31/2021

T. Rowe Price Global Multi-Sector Bond Fund 12/31/2021

(Unaudited)

Portfolio of Investments

Investments in Securities Coupon % Maturity Shares/Par Value ($) % of Net Assets

1MDB Global Investments 4.4 3/9/23 10,500,000 10,602,204 0.580%

2020 Cash Mandatory Exchangeable Trust 925 966,819 0.053%

280 Park Avenue 2017-280P Mortgage Trust 1.19 9/15/34 995,000 992,492 0.054%

AAdvantage Loyalty IP 5.5 4/20/28 2,500,000 2,586,150 0.141%

AbbVie 4.25 11/21/49 3,580,000 4,262,362 0.233%

ABJA Investment Co Pte 5.95 7/31/24 7,450,000 8,115,464 0.444%

Acwa Power Management & Investments One 5.95 12/15/39 5,289,930 6,287,082 0.344%

Adani Ports & Special Economic Zone 4.38 7/3/29 3,950,000 4,125,155 0.225%

Adler 1.5 7/26/24 4,200,000 4,166,821 0.228%

ADMI 3.88 12/23/27 2,793,888 2,774,107 0.152%

ADMI 4 12/23/27 403,988 402,913 0.022%

AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.63 10/15/27 4,125,000 4,549,190 0.249%




Aes Andes 7.13 3/26/79 6,325,000 6,555,262 0.358%

Agile Group Holdings 5.5 5/17/26 9,825,000 5,821,313 0.318%

Air Canada 4.25 8/11/28 2,290,000 2,280,588 0.125%

Air Canada 4.63 8/15/29 735,000 579,598 0.032%

Akbank TAS 5.13 3/31/25 4,075,000 3,796,156 0.208%

Albania Government International Bond 3.5 10/9/25 1,500,000 1,788,014 0.098%




Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons 5.88 2/15/28 775,000 819,563 0.045%

Albion Acquisitions 5.75 10/14/26 1,830,000 1,830,000 0.100%

Albion Financing 2SARL 8.75 4/15/27 755,000 766,325 0.042%

Alcoa Nederland Holding BV 5.5 12/15/27 1,565,000 1,672,594 0.091%

Alen 2021-ACEN Mortgage Trust 2.36 4/15/34 2,940,000 2,934,473 0.160%

Allianz 3.38 9/18/70 2,300,000 2,809,966 0.154%

Altice Financing 5 1/15/28 2,580,000 2,502,600 0.137%

Altice Financing 5.75 8/15/29 2,715,000 2,674,275 0.146%

Altice France Holding 4 2/15/28 1,505,000 1,634,179 0.089%

Altice France SA/France 3.38 1/15/28 885,000 979,391 0.054%

Altice France SA/France 3.38 1/15/28 640,000 708,260 0.039%

Altice France SA/France 5.88 2/1/27 1,700,000 2,020,087 0.110%

Altice France SA/France 4.12 8/14/26 3,029,723 3,011,545 0.165%

American Airlines Inc/AAdvantage Loyalty IP 5.5 4/20/26 2,865,000 2,979,600 0.163%

Americredit Automobile Receivables Trust 2018-1 3.82 3/18/24 1,265,000 1,294,245 0.071%

AmeriCredit Automobile Receivables Trust 2020-3 1.49 9/18/26 1,980,000 1,983,663 0.108%

Angel Oak Mortgage Trust 2021-2 2.34 4/25/66 1,830,000 1,808,895 0.099%

Angel Oak Mortgage Trust I LLC 2019-1 3.92 11/25/48 306,449 308,474 0.017%

Angel Oak Mortgage Trust I LLC 2019-2 4.07 3/25/49 2,815,000 2,821,013 0.154%

Applebee S Funding Llc / Ihop Funding 4.19 6/5/49 1,574,100 1,591,447 0.087%

Arbor Multifamily Mortgage Securities Trust 2020-MF1 1.75 5/15/53 1,515,000 1,287,021 0.070%

Arconic 6.13 2/15/28 2,660,000 2,819,600 0.154%

Ares LVIII CLO 1.34 1/15/33 1,480,000 1,479,877 0.081%

Ascend Learning 6.25 11/18/29 1,260,000 1,262,104 0.069%

Ascend Learning 4 12/10/28 1,800,000 1,795,878 0.098%

Ashford Hospitality Trust 2018-ASHF 1.51 4/15/35 500,000 494,663 0.027%

Asurion 5.35 1/20/29 3,350,000 3,333,954 0.182%

Asurion 5.35 1/31/28 1,292,848 1,296,081 0.071%

athenahealth 4.4 2/11/26 501,213 500,711 0.027%

Autostrade per l Italia 2 12/4/28 5,340,000 6,291,099 0.344%

Avis Budget Rental Car Funding AESOP 4.53 3/20/23 495,000 497,328 0.027%

Avis Budget Rental Car Funding AESOP 3.34 8/20/26 5,000,000 4,925,960 0.269%

Azalea Topco 4.5 7/24/26 1,144,250 1,143,174 0.062%

Bahrain Government International Bond 7.38 5/14/30 5,860,000 6,518,049 0.356%

BAMLL Commercial Mortgage Securities Trust 2021-JACX 3.86 9/15/38 3,330,000 3,322,900 0.182%

Banco Comercial Portugues 4.5 12/7/27 2,800,000 3,225,958 0.176%

Banco De Bogota 4.38 8/3/27 7,225,000 7,421,954 0.406%

Banco De Bogota 4.38 8/3/27 1,000,000 1,027,260 0.056%

Bancolombia 4.63 12/18/29 7,750,000 7,761,741 0.424%

Bangkok Bank PCL/Hong Kong 3.73 9/25/34 4,120,000 4,217,129 0.231%

Bank Hapoalim BM 3.26 1/21/32 5,320,000 5,275,312 0.288%

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Bank of America 2.69 4/22/32 3,895,000 3,946,648 0.216%

Bank of America 2.3 7/21/32 4,225,000 4,140,939 0.226%

Bath & Body Works 7.5 6/15/29 2,045,000 2,315,963 0.127%

BBCMS 2020-BID Mortgage Trust 2.25 10/15/37 2,945,000 2,953,277 0.161%

BBVA Bancomer SA/Texas 5.88 9/13/34 7,100,000 7,763,566 0.424%

Bellring Brands 4.75 10/21/24 1,815,587 1,817,003 0.099%

Benefit Street Partners CLO IV 1.68 1/20/32 5,885,000 5,854,802 0.320%

Benefit Street Partners CLO XI 1.62 4/15/29 6,995,000 6,968,769 0.381%

Bermuda Government International Bond 3.72 1/25/27 1,670,000 1,795,250 0.098%

BFLD 2019-DPLO 1.65 10/15/34 1,830,000 1,816,216 0.099%

Bnp Paribas 1.32 1/13/27 2,830,000 2,754,897 0.151%

Bnp Paribas 2.16 9/15/29 1,320,000 1,289,903 0.071%

Bonos de la Tesoreria de la Republica en pesos 5 10/1/28 4,175,000,000 4,753,952 0.260%

Bonos de la Tesoreria de la Republica en pesos 4.7 9/1/30 26,655,000,000 29,292,778 1.601%

BPR Trust 2021-NRD 5.72 12/15/23 4,495,000 4,483,795 0.245%

Braskem Netherlands Finance BV 4.5 1/31/30 8,100,000 8,628,363 0.472%

Brazil Notas do Tesouro Nacional Serie F 10 1/1/25 41,396,000 7,324,282 0.400%

Brf 4.88 1/24/30 5,400,000 5,477,031 0.299%

Brixmor Operating Partnership 4.13 6/15/26 3,200,000 3,460,618 0.189%

BX Commercial Mortgage Trust 2020-BXLP 2.11 12/15/36 2,338,115 2,319,104 0.127%

BX Commercial Mortgage Trust 2020-BXLP 2.61 12/15/36 1,749,411 1,729,753 0.095%

BX Trust 2018-GW 1.33 5/15/35 1,040,000 1,034,766 0.057%

BX Trust 2018-GW 1.88 5/15/35 3,000,000 2,979,261 0.163%

BX Trust 2021-VIEW 4.04 6/15/23 2,615,000 2,609,709 0.143%

CAFL 2021-RTL1 Issuer 3.1 3/28/29 2,220,000 2,182,227 0.119%

Canadian Government Real Return Bond 4 12/1/31 18,615,114 21,492,109 1.175%

Canadian Pacific Railway 3.1 12/2/51 2,970,000 3,046,068 0.167%

Cano Health 6.25 10/1/28 2,800,000 2,779,000 0.152%

Cano Health 5.25 11/23/27 1,048,987 1,047,414 0.057%

Cantor Commercial Real Estate Lending 2019-CF1 4.14 5/15/52 1,055,000 1,044,462 0.057%

Capital Projects Finance Authority/FL 4 10/1/24 6,775,000 6,700,165 0.366%

CBAM 2019-9 1.4 2/12/30 2,120,000 2,121,014 0.116%

CCI Buyer 4.5 12/17/27 2,537,643 2,537,643 0.139%

CCO Holdings LLC / CCO Holdings Capital 4.75 3/1/30 2,190,000 2,283,075 0.125%

CCO Holdings LLC / CCO Holdings Capital 5.38 6/1/29 480,000 516,000 0.028%

Cemex SAB de CV 5.45 11/19/29 3,900,000 4,184,427 0.229%

Centene 2.63 8/1/31 6,085,000 5,963,300 0.326%

Charter Communications Operating 1.86 2/1/27 4,862,753 4,813,348 0.263%

Cheniere Energy 4.63 10/15/28 3,965,000 4,183,075 0.229%

Cheniere Energy 4.25 3/15/45 2,615,000 2,205,753 0.121%

China development Bank 3.7 10/20/30 20,000,000 3,275,635 0.179%







China Government Bond 3.02 10/22/25 10,000,000 1,594,686 0.087%




China Government Bond 4 6/24/69 10,000,000 1,771,884 0.097%


Chobani Llc / Chobani Finance 4.63 11/15/28 1,785,000 1,825,163 0.100%

CIFI Holdings 4.38 4/12/27 5,630,000 5,181,008 0.283%

Citigroup Commercial Mortgage Trust 2013-375P 3.52 5/10/35 3,350,000 3,375,563 0.185%

Citigroup Commercial Mortgage Trust 2015-P1 4.32 9/15/48 560,000 594,292 0.032%

Citigroup Commercial Mortgage Trust 2019-C7 3.79 12/15/72 6,110,000 5,612,097 0.307%

Clear Channel Outdoor Holdings 3.63 8/21/26 2,747,972 2,707,907 0.148%

Clear Channel Worldwide Holdings 5.13 8/15/27 2,105,000 2,170,781 0.119%

Colorado Health Facilities Authority 3.36 12/1/30 3,955,000 4,059,732 0.222%

COLT 2020-3 Mortgage Loan Trust 3.36 4/27/65 1,562,000 1,571,744 0.086%

COLT 2021-3 Mortgage Loan Trust 2.3 9/27/66 1,725,000 1,697,690 0.093%

Comcast 1.95 1/15/31 4,620,000 4,505,068 0.246%

COMM 2014-CCRE15 Mortgage Trust 4.69 2/10/47 4,545,000 4,650,139 0.254%

COMM 2014-CR14 Mortgage Trust 4.61 2/10/47 1,390,000 1,455,642 0.080%

COMM 2015-PC1 Mortgage Trust 4.32 7/10/50 1,500,000 1,589,061 0.087%

COMM 2017-PANW Mortgage Trust 3.54 10/10/29 4,340,000 4,399,036 0.240%

Commonwealth of Puerto Rico 0 7/1/31 945,000 934,369 0.051%

Commonwealth of Puerto Rico 0 7/1/31 1,895,000 1,864,206 0.102%



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CoreLogic 4 6/2/28 4,319,175 4,310,537 0.236%

CoreLogic 7 6/4/29 1,385,000 1,394,529 0.076%

Country Garden Holdings 3.3 1/12/31 5,500,000 4,704,083 0.257%

Country Garden Holdings 4.8 8/6/30 7,075,000 6,447,160 0.352%

CP Iris Holdco I 7.5 10/1/29 1,830,000 1,831,519 0.100%

CP Iris Holdco I 4.25 10/2/28 1,555,000 1,551,113 0.085%

Croatia Government International Bond 1.5 6/17/31 3,620,000 4,275,081 0.234%

CSAIL 2016-C6 Commercial Mortgage Trust 4.92 1/15/49 1,065,000 1,106,555 0.060%

CSC Holdings 6.5 2/1/29 2,315,000 2,482,838 0.136%

CSMC 2020-TMIC 3.25 12/15/35 3,575,000 3,591,227 0.196%

CVS Health 5.05 3/25/48 2,185,000 2,845,324 0.156%

CVS Health 3.75 4/1/30 1,215,000 1,331,277 0.073%

CVS Health 3 8/15/26 400,000 421,319 0.023%

C&W Senior Financing DAC 6.88 9/15/27 4,015,000 4,179,776 0.228%

Cyprus Government International Bond 1.25 1/21/40 120,000 137,399 0.008%

Cyprus Government International Bond 2.75 2/26/34 917,000 1,268,841 0.069%

Cyprus Government International Bond 2.75 5/3/49 3,228,000 4,786,826 0.262%

Cyprus Government International Bond 2.38 9/25/28 9,323,000 11,961,500 0.654%

Czech Republic Government Bond 2.4 9/17/25 133,640,000 5,921,315 0.324%

Dar Al-Arkan Sukuk 6.88 3/21/23 3,932,000 4,059,790 0.222%

Dave & Buster s 7.63 11/1/25 1,104,000 1,178,520 0.064%

DC office Trust 2019-MTC 3.07 9/15/45 1,455,000 1,412,145 0.077%

Deephaven Residential Mortgage Trust 2021-2 3.17 4/25/66 470,000 465,081 0.025%

Deutsche Bundesrepublik Inflation Linked Bond 0.1 4/15/26 50,942,878 64,226,341 3.511%

Deutsche Bundesrepublik Inflation Linked Bond 0.5 4/15/30 23,825,916 33,558,419 1.834%

DISH DBS 5.75 12/1/28 2,715,000 2,735,363 0.150%

Dominican Republic International Bond 5.3 1/21/41 4,500,000 4,455,000 0.244%



DRIVEN BRANDS FUNDING 4.74 4/20/48 3,551,200 3,688,230 0.202%

DRIVEN BRANDS FUNDING 3.79 7/20/50 1,886,125 1,955,372 0.107%

Ecopetrol 4.63 11/2/31 1,600,000 1,558,416 0.085%

Ecopetrol 6.88 4/29/30 2,500,000 2,794,913 0.153%

Egypt Government International Bond 5.88 2/16/31 1,836,000 1,632,057 0.089%

Egypt Treasury Bills 11.77 1/4/22 150,900,000 9,612,317 0.525%

Ellington Financial Mortgage Trust 2020-1 5.24 5/25/65 1,280,000 1,308,345 0.072%

Engineered Machinery Holdings 4.5 5/19/28 1,565,000 1,558,881 0.085%

Engineered Machinery Holdings 7.25 5/21/29 430,000 431,075 0.024%

Engineered Machinery Holdings 6.75 5/21/29 2,583,729 2,582,644 0.141%

Equate Petrochemical BV 2.63 4/28/28 2,470,000 2,479,263 0.136%

European Bank for Reconstruction & development 6.25 7/25/22 123,500,000,000 8,750,758 0.478%

Export Import Bank of Thailand 1.46 10/15/25 2,376,000 2,353,895 0.129%

Fannie Mae Connecticut Avenue Securities 2.65 12/25/30 1,189,759 1,211,554 0.066%

Fannie Mae Connecticut Avenue Securities 2.45 1/25/31 1,820,721 1,838,979 0.101%

Federal Home Loan Mortgage 5.5 10/1/38 4,232 4,847 0.000%


Federal Home Loan Mortgage 4 10/1/40 8,431 9,051 0.000%










Federal Home Loan Mortgage 5 4/1/40 465 527 0.000%








Federal National Mortgage Assn. 5 10/1/34 58,437 65,753 0.004%


Federal National Mortgage Assn. 4 10/1/47 1,200,960 1,285,862 0.070%

Federal National Mortgage Assn. 2.5 10/1/51 8,628,964 8,837,478 0.483%


Federal National Mortgage Assn. 5.5 11/1/35 13,529 15,424 0.001%


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Federal National Mortgage Assn. 5.5 8/1/37 539 614 0.000%















Flexential Issuer 2021-1 3.25 11/27/51 5,310,000 5,271,690 0.288%

Florida development Finance 2.6 4/1/26 2,340,000 2,349,817 0.128%

FOCUS Brands Funding 5.18 10/30/48 2,197,050 2,301,045 0.126%

Ford Credit Floorplan Master Owner Trust 1.87 9/15/27 2,500,000 2,462,580 0.135%

Fraport AG Frankfurt Airport Services Worldwide 1.88 3/31/28 4,455,000 5,217,382 0.285%

Freddie Mac REMICS 4.5 5/25/50 799,940 115,634 0.006%

Freddie Mac Stacr Remic Trust 2019-Hqa4 2.15 11/25/49 542,997 543,872 0.030%

Freddie Mac STACR REMIC Trust 2020-DNA4 3.85 8/25/50 371,018 372,871 0.020%

Freddie Mac STACR REMIC Trust 2020-DNA6 2.05 12/25/50 1,345,000 1,352,154 0.074%

Freddie Mac STACR REMIC Trust 2020-HQA3 3.7 7/25/50 568,873 571,181 0.031%

Freddie Mac STACR REMIC Trust 2020-HQA4 3.25 9/25/50 298,205 299,139 0.016%

Freddie Mac STACR REMIC Trust 2021-DNA3 2.15 10/25/33 1,220,000 1,241,784 0.068%

Freddie Mac STACR REMIC Trust 2021-HQA1 2.3 8/25/33 6,995,000 7,041,269 0.385%

Freddie Mac STACR REMIC Trust 2021-HQA4 2.4 12/25/41 3,565,000 3,573,929 0.195%

Freddie Mac Stacr Trust 2019-HQA1 2.45 2/25/49 4,698,964 4,737,464 0.259%

Freddie Mac STACR Trust 2019-HQA2 2.15 4/25/49 1,630,161 1,636,866 0.089%

Freddie Mac Structured Agency Credit Risk debt Notes 4.75 10/25/28 2,234,761 2,314,583 0.127%



FREMF 2019-K94 Mortgage Trust 3.97 7/25/52 2,280,000 2,414,006 0.132%

FWD Securitization Trust 2020-INV1 2.85 1/25/50 3,591,000 3,576,357 0.195%

Gainwell Acquisition 4.75 10/1/27 1,756,692 1,759,327 0.096%

Galton Funding Mortgage Trust 2017-1 3.5 11/25/57 159,760 160,530 0.009%

GCM Mining 6.88 8/9/26 2,655,000 2,664,399 0.146%

Globo Comunicacao E Participacoes 4.88 1/22/30 800,000 778,168 0.043%

Globo Comunicacao E Participacoes 5.13 3/31/27 3,200,000 3,208,000 0.175%

Golden State Tobacco Securitization 3.85 6/1/50 4,470,000 4,546,662 0.249%

Government National Mortgage Assn. 3 10/20/45 664,640 693,760 0.038%

Government National Mortgage Assn. 3.5 10/20/46 6,056,701 6,383,721 0.349%

Government National Mortgage Assn. 4 10/20/50 950,046 1,001,520 0.055%









Government National Mortgage Assn. 3.5 3/20/46 130,588 138,167 0.008%



Government National Mortgage Assn. 3.5 5/20/46 960,919 1,011,620 0.055%







Government National Mortgage Assn. 3 7/20/51 5,797,644 6,006,088 0.328%







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Government National Mortgage Association 4.5 12/20/39 2,361 36 0.000%

Government National Mortgage Association 4 2/20/43 41,426 5,002 0.000%

Graphic Packaging International 2.63 2/1/29 775,000 897,867 0.049%

Great Wolf Trust 2019-WOLF 2.84 12/15/36 1,955,000 1,896,112 0.104%

Great Wolf Trust 2019-WOLF 3.24 12/15/36 6,150,000 5,764,150 0.315%

Gtlk Europe Capital DAC 4.65 3/10/27 3,900,000 3,918,720 0.214%

Guatemala Government Bond 5.38 4/24/32 1,805,000 2,018,441 0.110%

Hardee s Funding 3.98 12/20/50 1,217,700 1,274,598 0.070%

Hillenbrand 3.75 3/1/31 1,645,000 1,645,000 0.090%

Hilton Grand Vacations Trust 2017 2.96 12/26/28 97,263 98,429 0.005%

Hilton Grand Vacations Trust 2020 6.42 2/25/39 1,004,634 1,098,068 0.060%

Hilton Orlando Trust 2018-ORL 1.31 12/15/34 2,145,000 2,130,178 0.116%

Howard Hughes 4.13 2/1/29 2,150,000 2,176,875 0.119%

Howard University 4.76 10/1/51 1,505,000 1,653,470 0.090%

HPS Loan Management 11-2017 2.07 5/6/30 7,190,000 7,156,805 0.391%

HTA Group Ltd/Mauritius 7 12/18/25 2,150,000 2,247,825 0.123%

HTA Group Ltd/Mauritius 7 12/18/25 1,760,000 1,840,080 0.101%

Hungary Government Bond 2.25 4/20/33 8,355,150,000 20,777,357 1.136%

iHeartCommunications 5.25 8/15/27 3,180,000 3,291,300 0.180%

Indonesia Treasury Bond 9 3/15/29 68,675,000,000 5,581,932 0.305%

Intelsat Jackson Holdings 5.39 7/13/22 174,018 173,747 0.009%

Intelsat Jackson Holdings 9.5 9/30/22 920,000 1,063,750 0.058%

Invesco CLO 3.02 7/15/34 2,505,000 2,482,936 0.136%

Iqera Group SAS 4.25 9/30/24 1,515,000 1,721,637 0.094%

Israel Government Bond - Fixed 5.5 1/31/42 39,084,000 19,995,765 1.093%

Italy Buoni Poliennali del Tesoro 0.65 5/15/26 10,220,615 12,582,969 0.688%

Ivory Coast Government International Bond 4.88 1/30/32 1,285,000 1,411,110 0.077%

Ivory Coast Government International Bond 4.88 1/30/32 1,075,000 1,180,501 0.065%

Jaguar Land Rover Automotive 5.88 1/15/28 2,505,000 2,551,969 0.139%

Japanese Government CPI Linked Bond 0.2 3/10/30 471,728,517 4,413,981 0.241%

Japanese Government CPI Linked Bond 0.01 3/10/31 1,689,666,010 15,267,512 0.835%

Jerrold Finco 5.25 1/15/27 1,710,000 2,347,252 0.128%

JPMCC Commercial Mortgage Securities Trust 2017-JP5 3.88 3/15/50 655,000 704,582 0.039%

Kaisa Group Holdings 11.25 4/9/22 5,000,000 1,375,000 0.075%

Kernel Holding 6.5 10/17/24 3,525,000 3,570,571 0.195%

Kfc Holding 1.85 3/15/28 4,104,352 4,089,822 0.224%

KWG Group Holdings 5.95 8/10/25 4,000,000 2,870,000 0.157%

Lamar Funding 3.96 5/7/25 3,335,000 3,326,452 0.182%

Landsbankinn HF 1 5/30/23 3,450,000 3,971,652 0.217%

LCPR Senior Secured Financing DAC 6.75 10/15/27 3,321,000 3,509,922 0.192%

LCPR Senior Secured Financing DAC 5.13 7/15/29 2,740,000 2,763,975 0.151%

Leaseplan 7.38 11/29/70 2,590,000 3,250,958 0.178%

Legacy LifePoint Health 6.75 4/15/25 2,165,000 2,259,719 0.124%

Level 3 Financing 1.85 3/1/27 3,373,278 3,326,896 0.182%

Leviathan Bond 6.13 6/30/25 4,025,000 4,256,438 0.233%

Loyalty Ventures 5 11/3/27 2,495,000 2,478,358 0.135%

LSEGA Financing 2.5 4/6/31 3,565,000 3,575,741 0.195%

Madison IAQ 3.75 6/21/28 268,650 268,239 0.015%

Madison IAQ 4.13 6/30/28 1,150,000 1,151,438 0.063%

Madison Park Funding XXXIII 1.45 10/15/32 2,385,000 2,385,469 0.130%

Malaysia Government Bond 4.64 11/7/33 19,958,000 5,153,245 0.282%



Manhattan West 2020-1MW Mortgage Trust 2.33 9/10/39 1,185,000 1,140,080 0.062%

Manila Water 4.38 7/30/30 4,800,000 4,980,239 0.272%

MercadoLibre 2 8/15/28 720,000 2,243,066 0.123%

Metalsa S A P I de Cv 3.75 5/4/31 7,800,000 7,538,583 0.412%

Metropolitan Pier & Exposition Authority 3.96 12/15/26 2,020,000 2,109,635 0.115%

Mexican Bonos 8.5 5/31/29 253,305,000 13,101,091 0.716%

Minejesa Capital BV 5.63 8/10/37 3,850,000 4,029,064 0.220%

mo Fisher Scientific Finance I BV 0.8 10/18/30 5,021,000 5,745,276 0.314%

Montgomery County IDA/PA 2.94 11/15/27 5,890,000 5,858,357 0.320%

Morgan Stanley Eaton Vance Clo 2021-1 3.23 9/25/34 1,325,000 1,315,025 0.072%

Mozart Borrower 3.75 10/23/28 1,185,000 1,184,479 0.065%

Mozart debt Merger Sub 5.25 10/1/29 560,000 567,000 0.031%

Mriya Farming 773 10 0.000%

Mriya Farming 127,586 1,453 0.000%

MVW 2020-1 4.21 10/20/37 650,774 666,750 0.036%

MVW Owner Trust 2017-1 2.75 12/20/34 51,628 52,081 0.003%

MVW Owner Trust 2017-1 2.99 12/20/34 62,343 62,666 0.003%

Navient 5.5 3/15/29 3,650,000 3,654,563 0.200%

Navient Private Education Loan Trust 2017 3.91 12/16/58 805,000 811,953 0.044%

Page 6 of 12

Navient Private Education Refi Loan Trust 2020 2.77 1/15/69 2,365,000 2,352,250 0.129%

Navient Private Education Refi Loan Trust 2020-D 3.33 5/15/69 2,005,000 2,067,436 0.113%

Navient Private Education Refi Loan Trust 2021 2.24 5/15/69 1,955,000 1,937,480 0.106%

NBN 2.63 5/5/31 4,724,000 4,734,147 0.259%

Netflix 4.63 5/15/29 2,250,000 3,193,245 0.175%

New Enterprise Stone & Lime 5.25 7/15/28 600,000 609,000 0.033%

New Residential Mortgage Loan Trust 2019-NQM5 3.44 11/25/59 2,300,000 2,301,320 0.126%

Nexa Resources 6.5 1/18/28 3,875,000 4,268,196 0.233%

Nexstar Media 2.6 9/18/26 4,350,000 4,337,516 0.237%

Nexus Buyer 6.75 11/5/29 940,000 938,825 0.051%

NTPC 7.25 5/3/22 50,000,000 682,834 0.037%

NYACK Park CLO 2.92 10/20/34 6,310,000 6,252,314 0.342%

OBX 2021-NQM1 Trust 2.22 2/25/66 1,095,000 1,078,359 0.059%

Occidental Petroleum 8.88 7/15/30 1,410,000 1,903,500 0.104%

Occidental Petroleum 6.63 9/1/30 3,070,000 3,799,125 0.208%

OCP CLO 2020-19 6.63 10/20/34 4,260,000 4,219,468 0.231%

OCP CLO 2021-21 3.08 7/20/34 2,275,000 2,263,735 0.124%

OmGrid Funding 5.2 5/16/27 1,865,000 1,925,016 0.105%

Oryx Funding 5.8 2/3/31 1,090,000 1,155,961 0.063%

Pacific Gas & Electric 4.55 7/1/30 502,000 543,060 0.030%

Pacific Gas & Electric 4.95 7/1/50 1,595,000 1,740,935 0.095%

Pacific Gas & Electric 2.1 8/1/27 1,675,000 1,618,993 0.088%

Palmer Square CLO 2021-2 3.02 7/15/34 2,030,000 2,020,990 0.110%

Peraton 4.5 2/1/28 1,116,563 1,116,161 0.061%

Peraton 8.5 2/1/29 520,000 525,850 0.029%

Petroleos De Venezuela 9 11/17/22 510,000 21,038 0.001%

Petroleos De Venezuela 12.75 2/17/22 15,000 620 0.000%

Petroleos De Venezuela 6 5/16/24 770,000 31,801 0.002%

Petroleos Mexicanos 6.84 1/23/30 3,450,000 3,575,149 0.195%

Petroleos Mexicanos 6.5 3/13/27 3,455,000 3,690,320 0.202%

PetSmart Inc / PetSmart Finance 4.75 2/15/28 750,000 769,688 0.042%

PetVet Care Centers 4.25 2/14/25 4,967,867 4,961,657 0.271%

PGT Innovations 4.38 10/1/29 955,000 959,775 0.052%

Phoenix Newco 4 11/15/28 1,895,000 1,894,147 0.104%

Plantronics 4.75 3/1/29 2,950,000 2,802,500 0.153%

PLT VII Finance Sarl 4.63 1/5/26 565,000 658,491 0.036%

Pro Mach 5 8/31/28 2,430,348 2,436,423 0.133%

Pro Mach 4.2 8/31/28 394,653 395,639 0.022%

Qatar Energy 3.13 7/12/41 8,930,000 9,048,394 0.495%

Range Resources 9.25 2/1/26 2,115,000 2,273,625 0.124%

RealPage 7.25 4/23/29 690,000 697,935 0.038%

Republic of South Africa Government Bond 10.5 12/21/26 115,189,000 8,002,246 0.437%

Republic of South Africa Government Bond 8 1/31/30 71,395,000 4,136,294 0.226%

Republic of South Africa Government Bond 7 2/28/31 50,355,000 2,665,401 0.146%

Rivian Holdings Llc/Rivian Llc/Rivian Automotive 6.63 10/8/26 2,630,000 2,741,775 0.150%

Romanian Government International Bond 2 1/28/32 1,045,000 1,107,831 0.061%

Romanian Government International Bond 2 1/28/32 6,190,000 6,562,178 0.359%

Romanian Government International Bond 3.62 5/26/30 5,390,000 6,667,189 0.364%

Romanian Government International Bond 2.12 7/16/31 5,667,000 6,166,468 0.337%

Royal Caribbean Cruises 5.25 11/15/22 680,000 686,800 0.038%

Royal Caribbean Cruises 5.5 8/31/26 1,595,000 1,612,944 0.088%

Santander Consumer Auto Receivables Trust 2020 2.14 12/15/26 2,010,000 2,027,348 0.111%

Sea 0.25 9/15/26 1,800,000 1,652,519 0.090%

Seasoned Credit Risk Transfer Trust Series 2017-2 4 8/25/56 740,000 745,707 0.041%

SeaWorld Parks & Entertainment 3.5 8/25/28 2,129,663 2,119,014 0.116%

Sequoia Mortgage Trust 2017-2 3.58 2/25/47 3,545,323 3,575,674 0.195%

Sequoia Mortgage Trust 2018-CH3 4.5 8/25/48 104,798 105,798 0.006%

Sequoia Mortgage Trust 2018-CH4 4.5 10/25/48 94,230 95,045 0.005%

Serbia International Bond 2.13 12/1/30 941,000 884,398 0.048%

Serbia International Bond 1.5 6/26/29 1,350,000 1,489,968 0.081%

Serbia Treasury Bonds 4.5 8/20/32 1,590,420,000 15,879,542 0.868%

SG Residential Mortgage Trust 2019-3 3.08 9/25/59 602,621 610,649 0.033%

Shimao Group Holdings 3.45 1/11/31 1,181,000 707,419 0.039%

Shimao Group Holdings 5.6 7/15/26 11,000,000 6,820,000 0.373%

Shutterfly 5.75 9/25/26 4,220,056 4,167,305 0.228%

Singapore Government Bond 2.88 7/1/29 5,820,000 4,689,730 0.256%

SLIde 2018-FUN 2.66 6/15/31 3,148,962 3,053,777 0.167%

Southwestern Energy 4.75 2/1/32 495,000 520,988 0.028%

Sprint Capital 8.75 3/15/32 1,520,000 2,287,600 0.125%

Standard Chartered 2.82 1/30/26 7,205,000 7,398,188 0.404%

Starwood Mortgage Residential Trust 2020-INV 1.59 11/25/55 721,398 718,307 0.039%

Starwood Mortgage Residential Trust 2021-3 3.35 6/25/56 2,300,000 2,277,257 0.124%

Page 7 of 12

State of Illinois 7.1 7/1/35 3,000,000 3,869,560 0.212%

State of Illinois 7.35 7/1/35 2,225,000 2,800,828 0.153%

Stonepeak 2021-1 ABS 2.68 2/28/33 2,487,252 2,474,941 0.135%

Summit Materials 2.1 11/21/24 4,860,759 4,857,114 0.265%

Suriname Government International Bond 9.25 10/26/26 6,675,000 5,109,713 0.279%

Symphony CLO XX 2.47 1/16/32 3,190,000 3,190,544 0.174%

Tacala Investment 8.25 2/4/28 455,000 451,779 0.025%

Targa Resources 3,130 3,385,802 0.185%

Targa Resources Partners LP / Targa Resources Partners Finance 6.88 1/15/29 2,515,000 2,804,225 0.153%

Tenet Healthcare 6.13 10/1/28 4,335,000 4,562,588 0.249%

Tenneco 7.88 1/15/29 2,000,000 2,165,000 0.118%

Teva Pharmaceutical Finance Netherlands III BV 7.13 1/31/25 1,400,000 1,498,000 0.082%

Teva Pharmaceutical Finance Netherlands III BV 6 4/15/24 1,690,000 1,766,050 0.097%

Thailand Government Bond 2 12/17/31 476,900,000 14,425,991 0.789%

Times China Holdings 6.2 3/22/26 5,000,000 3,426,250 0.187%

Times China Holdings 6.75 7/16/23 4,275,000 3,227,625 0.176%

TK Elevator Midco GmbH 4.38 7/15/27 740,000 869,770 0.048%

TK Elevator US Newco 4 7/30/27 3,437,747 3,437,265 0.188%

T-Mobile USA 3.5 4/15/31 2,890,000 2,996,049 0.164%

Tobacco Settlement Finance Authority 4.88 6/1/49 2,940,000 3,068,240 0.168%

Tobacco Settlement Financing Corp/VA 6.71 6/1/46 13,230,000 13,898,746 0.760%

Tower Bersama Infrastructure 2.75 1/20/26 6,800,000 6,812,138 0.372%

Townsquare Media 6.88 2/1/26 1,955,000 2,077,188 0.114%

Trivium Packaging Finance BV 3.75 8/15/26 270,000 311,250 0.017%

TRP Government Reserve 0.06 159,092,234 159,092,234 8.696%

UFC Holdings 3.5 4/29/26 4,306,502 4,282,644 0.234%

UKG 5.75 5/3/27 1,620,000 1,623,046 0.089%

UKG 3.75 5/4/26 1,720,666 1,710,445 0.093%

United Airlines 2018-1 Class AA Pass Through Trust 3.5 3/1/30 2,387,986 2,480,124 0.136%

United Airlines 2019-2 Class AA Pass Through Trust 2.7 5/1/32 1,524,993 1,506,665 0.082%

United Kingdom Inflation-Linked Gilt 0.75 3/22/34 3,651,699 7,475,475 0.409%

Univision Communications 6.63 6/1/27 5,275,000 5,670,625 0.310%

U.S. Treasury Bill 0.06 5/19/22 15,393,000 15,387,185 0.841%

U.S. Treasury Bonds 1.13 2/15/31 4,006,000 3,887,072 0.212%

U.S. Treasury Inflation Indexed Bonds 0.63 1/15/24 42,119,633 44,844,247 2.451%



Venezuela Government International Bond 7.75 10/13/22 400,000 26,000 0.001%

Venezuela Government International Bond 6 12/9/22 205,000 13,325 0.001%

Venture Global Calcasieu Pass 3.88 11/1/33 1,245,000 1,304,138 0.071%

Venture Global Calcasieu Pass 3.88 8/15/29 555,000 576,506 0.032%

Venture Global Calcasieu Pass 4.13 8/15/31 665,000 703,238 0.038%

Verde Bidco 4.63 10/1/26 465,000 540,885 0.030%

Verus Securitization Trust 2020-INV1 5.5 3/25/60 530,000 552,180 0.030%

Verus Securitization Trust 2021-R1 2.34 10/25/63 3,155,000 3,147,971 0.172%

Vista Point Securitization Trust 2020-1 5.38 3/25/65 1,560,000 1,590,631 0.087%

Vista Point Securitization Trust 2020-2 4.9 4/25/65 1,920,000 1,957,982 0.107%

Vistra 8 4/15/70 785,000 830,138 0.045%

Vistra 7 6/15/70 1,220,000 1,236,775 0.068%

Vistra Operations 4.38 5/1/29 3,315,000 3,315,000 0.181%

Vivo Energy Investments BV 5.13 9/24/27 4,095,000 4,294,631 0.235%

Vmed O2 UK Financing I 4.75 7/15/31 950,000 970,188 0.053%

VNdo Trust 2016-350P 3.9 1/10/35 3,825,000 3,839,216 0.210%

VTR Comunicaciones 4.38 4/15/29 7,800,000 7,733,817 0.423%

Waystar Technologies 4.1 10/22/26 1,368,038 1,365,753 0.075%

Westlake Chemical 1.63 7/17/29 3,000,000 3,528,656 0.193%

Woof Holdings 4.5 12/21/27 2,272,825 2,272,825 0.124%

Woof Holdings 8 12/21/28 2,095,000 2,106,795 0.115%

WR Grace Holdings 4.25 9/22/28 725,000 725,544 0.040%

Yanlord Land HK 6.8 2/27/24 4,250,000 4,301,994 0.235%

Zambia Government Bond 11 1/25/26 61,000,000 2,794,979 0.153%

Zambia Government Bond 12 6/17/26 61,000,000 2,795,382 0.153%

ZH Trust 2021-1 2.25 2/18/27 3,220,000 3,198,604 0.175%

ZH Trust 2021-1 3.26 2/18/27 3,000,000 2,866,557 0.157%

Ziggo BV 2.88 1/15/30 3,355,000 3,800,416 0.208%

Total Investments in Securities 1,928,550,937

Forwards Contracts

Currency

Bought Receive

Currency

Sold Deliver Settlement Unrealized G/L % of Net Assets

Barclays Bank PLC - Wholesale (SING) USD 17,644,838 AUD (24,848,000) 01/21/2022 (434,519) -0.024%

Barclays Bank PLC - Wholesale (SING) USD 27,376,992 CNH (178,292,658) 01/21/2022 (627,194) -0.034%

Barclays Bank PLC - Wholesale (SING) USD 817,458 INR (61,446,261) 01/21/2022 (6,087) 0.000%

Page 8 of 12

Barclays Bank PLC - Wholesale (SING) USD 5,213,429 JPY (595,556,005) 01/21/2022 35,177 0.002%

BNP PARIBAS SECURITIES CORP CLP 1,927,950,948 USD (2,253,464) 01/07/2022 7,224 0.000%

BNP PARIBAS SECURITIES CORP CLP 1,947,425,200 USD (2,272,163) 01/07/2022 11,360 0.001%

BNP PARIBAS SECURITIES CORP CLP 3,864,225,000 USD (4,581,071) 01/07/2022 (49,937) -0.003%

BNP PARIBAS SECURITIES CORP CLP 4,018,794,000 USD (4,728,438) 01/07/2022 (16,058) -0.001%

BNP PARIBAS SECURITIES CORP USD 5,513,585 CLP (4,493,682,223) 01/07/2022 244,359 0.013%

BNP PARIBAS SECURITIES CORP USD 389,670 ILS (1,221,016) 01/20/2022 (3,102) 0.000%

BNP PARIBAS SECURITIES CORP USD 18,080,814 RUB (1,350,609,665) 01/21/2022 125,257 0.007%

BNP PARIBAS SECURITIES CORP USD 278,126 EUR (245,191) 02/25/2022 (1,338) 0.000%



BNP PARIBAS SECURITIES CORP USD 612,212 THB (20,701,567) 03/11/2022 (7,329) 0.000%

BNP PARIBAS SECURITIES CORP USD 2,244,146 CLP (1,947,425,200) 04/08/2022 (6,635) 0.000%

BNP PARIBAS SECURITIES CORP USD 2,225,629 CLP (1,927,950,948) 04/08/2022 (2,644) 0.000%

BANK OF AMERICA IDR 26,258,475,848 USD (1,823,885) 01/21/2022 20,596 0.001%

BANK OF AMERICA IDR 26,258,475,848 USD (1,823,885) 01/21/2022 20,596 0.001%

BANK OF AMERICA USD 20,923,501 CNH (136,318,700) 01/21/2022 (487,893) -0.027%

JP MORGAN CHASE BANK MXN 36,378,000 USD (1,678,792) 01/14/2022 93,685 0.005%

JP MORGAN CHASE BANK RUB 73,994,000 USD (984,415) 01/21/2022 (708) 0.000%

JP MORGAN CHASE BANK USD 1,255,207 CNH (8,037,000) 01/21/2022 (7,154) 0.000%

JP MORGAN CHASE BANK USD 1,070,723 PLN (4,283,000) 02/18/2022 11,469 0.001%

JP MORGAN CHASE BANK GBP 238,000 USD (315,059) 02/25/2022 7,010 0.000%

CANADIAN IMPERIAL BANK OF COMMERCE USD 641,508 CAD (820,789) 01/21/2022 (7,349) 0.000%

CANADIAN IMPERIAL BANK OF COMMERCE USD 35,824,090 CAD (45,862,000) 01/21/2022 (431,112) -0.024%

CITIBANK N A USD 7,647,190 RSD (780,472,253) 01/12/2022 90,491 0.005%

CITIBANK N A CZK 117,385,687 USD (5,322,093) 01/14/2022 43,532 0.002%

CITIBANK N A MXN 91,503,715 USD (4,364,781) 01/14/2022 93,633 0.005%



CITIBANK N A USD 1,190,377 MXN (24,517,000) 01/14/2022 (4,186) 0.000%

CITIBANK N A ILS 41,226,000 USD (12,800,720) 01/20/2022 460,729 0.025%

CITIBANK N A ILS 17,668,200 USD (5,510,842) 01/20/2022 172,609 0.009%

CITIBANK N A USD 4,869,559 ILS (15,791,736) 01/20/2022 (210,277) -0.011%




CITIBANK N A CAD 21,068,000 USD (17,068,590) 01/21/2022 (413,743) -0.023%

CITIBANK N A USD 7,031,319 AUD (9,722,000) 01/21/2022 (42,390) -0.002%

CITIBANK N A USD 17,812,442 AUD (24,966,000) 01/21/2022 (352,772) -0.019%

CITIBANK N A USD 915,192 CNH (5,841,000) 01/21/2022 (2,246) 0.000%

CITIBANK N A EGP 136,276,000 USD (8,489,394) 02/16/2022 91,979 0.005%

CITIBANK N A USD 9,110,797 RSD (928,025,789) 02/18/2022 128,871 0.007%

CITIBANK N A USD 3,623,186 EUR (3,209,000) 02/25/2022 (34,363) -0.002%

CITIBANK N A USD 785,967 EUR (692,462) 02/25/2022 (3,287) 0.000%






CITIBANK N A USD 4,603,273 COP (18,129,071,500) 03/11/2022 179,539 0.010%

CITIBANK N A USD 549,919 THB (18,355,578) 03/11/2022 588 0.000%

DEUTSCHE BANK USD 649,552 EUR (575,125) 02/25/2022 (5,963) 0.000%

GOLDMAN SACHS & CO MXN 10,885,079 USD (517,279) 01/14/2022 13,084 0.001%

GOLDMAN SACHS & CO ILS 26,069,000 USD (8,265,862) 01/20/2022 119,931 0.007%

GOLDMAN SACHS & CO AUD 16,187,357 USD (12,222,199) 01/21/2022 (444,309) -0.024%

GOLDMAN SACHS & CO AUD 59,536,000 USD (44,847,873) 01/21/2022 (1,529,593) -0.084%

GOLDMAN SACHS & CO IDR 20,464,790,786 USD (1,421,472) 01/21/2022 16,042 0.001%

GOLDMAN SACHS & CO IDR 20,464,790,786 USD (1,421,472) 01/21/2022 16,042 0.001%

GOLDMAN SACHS & CO USD 13,927,142 CNH (90,811,930) 01/21/2022 (336,565) -0.018%

GOLDMAN SACHS & CO USD 41,173,863 EUR (35,447,009) 02/25/2022 772,128 0.042%

GOLDMAN SACHS & CO USD 3,744,582 BRL (21,375,948) 03/03/2022 (36,037) -0.002%

GOLDMAN SACHS & CO USD 4,599,757 COP (18,129,071,500) 03/11/2022 176,022 0.010%

GOLDMAN SACHS & CO USD 1,416,107 THB (47,577,657) 03/11/2022 (7,759) 0.000%

GOLDMAN SACHS & CO USD 878,778 THB (29,682,048) 03/11/2022 (9,523) -0.001%

GOLDMAN SACHS & CO USD 1,077,970 THB (36,345,365) 03/11/2022 (9,746) -0.001%

GOLDMAN SACHS & CO USD 8,906,554 THB (300,997,000) 03/11/2022 (101,445) -0.006%

GOLDMAN SACHS & CO USD 13,708,923 CNH (87,695,981) 03/18/2022 (16,199) -0.001%

HSBC SECURITIES INC USD 408,628 INR (30,723,131) 01/21/2022 (3,144) 0.000%

HSBC SECURITIES INC USD 407,631 INR (30,723,131) 01/21/2022 (4,142) 0.000%

HSBC SECURITIES INC GBP 6,346,244 USD (8,497,620) 02/25/2022 90,304 0.005%

HSBC SECURITIES INC GBP 6,346,244 USD (8,500,559) 02/25/2022 87,366 0.005%

HSBC SECURITIES INC MYR 1,591,697 USD (376,885) 03/11/2022 4,776 0.000%

Page 9 of 12

HSBC SECURITIES INC USD 776,532 MYR (3,299,098) 03/11/2022 (14,533) -0.001%

MORGAN STANLEY & COMPANY LLC USD 3,672,845 CLP (3,009,162,202) 01/07/2022 144,345 0.008%

MORGAN STANLEY & COMPANY LLC MXN 62,236,391 USD (2,948,502) 01/14/2022 83,896 0.005%

MORGAN STANLEY & COMPANY LLC MXN 62,236,391 USD (2,948,502) 01/14/2022 83,896 0.005%

MORGAN STANLEY & COMPANY LLC USD 50,298,006 EUR (43,324,122) 02/25/2022 918,108 0.050%

MORGAN STANLEY & COMPANY LLC USD 3,745,858 BRL (21,375,948) 03/03/2022 (34,761) -0.002%

MORGAN STANLEY & COMPANY LLC THB 4,782,066 USD (141,905) 03/11/2022 1,209 0.000%

MORGAN STANLEY & COMPANY LLC USD 15,370,092 CNH (98,219,499) 03/18/2022 (2,044) 0.000%

RBC DOMINION SECURITIES INC CAD 8,576,671 USD (6,942,104) 01/21/2022 (162,004) -0.009%

RBC DOMINION SECURITIES INC USD 7,927,678 CAD (10,061,000) 01/21/2022 (25,826) -0.001%

STATE STREET GLOBAL MARKETS LLC JPY 2,038,544,000 USD (18,080,373) 01/21/2022 (355,604) -0.019%

STATE STREET GLOBAL MARKETS LLC USD 836,210 CAD (1,052,516) 01/21/2022 4,166 0.000%

STATE STREET GLOBAL MARKETS LLC USD 10,599,872 JPY (1,209,159,163) 01/21/2022 86,453 0.005%

STATE STREET GLOBAL MARKETS LLC USD 772,019 JPY (87,589,527) 01/21/2022 10,444 0.001%

STATE STREET GLOBAL MARKETS LLC USD 2,252,169 PLN (9,033,000) 02/18/2022 18,165 0.001%

STATE STREET GLOBAL MARKETS LLC USD 3,187,343 EUR (2,742,811) 02/25/2022 61,147 0.003%

STATE STREET GLOBAL MARKETS LLC USD 4,591,131 EUR (4,057,538) 02/25/2022 (33,563) -0.002%



STATE STREET GLOBAL MARKETS LLC USD 302,928 GBP (225,006) 02/25/2022 (1,557) 0.000%

STATE STREET GLOBAL MARKETS LLC USD 17,975,450 SEK (162,140,000) 02/25/2022 24,290 0.001%

STANDARD CHARTERED SECURITIES USD 4,968,963 CNH (31,900,000) 03/18/2022 (23,641) -0.001%

UBS SECURITIES LLC CLP 1,957,162,327 USD (2,305,392) 01/07/2022 (10,452) -0.001%

UBS SECURITIES LLC USD 3,884,850 CLP (3,134,543,960) 01/07/2022 209,329 0.011%



UBS SECURITIES LLC USD 6,476,727 ZAR (97,741,582) 01/14/2022 355,224 0.019%

UBS SECURITIES LLC USD 6,461,826 ZAR (97,741,582) 01/14/2022 340,323 0.019%

UBS SECURITIES LLC CAD 358,601 USD (280,431) 01/21/2022 3,054 0.000%

UBS SECURITIES LLC RUB 1,276,615,665 USD (17,232,109) 01/21/2022 (260,259) -0.014%

UBS SECURITIES LLC USD 12,094,367 AUD (16,187,357) 01/21/2022 316,477 0.017%

UBS SECURITIES LLC USD 20,180,144 CNH (131,602,790) 01/21/2022 (490,528) -0.027%

UBS SECURITIES LLC USD 13,208,891 IDR (190,184,382,000) 01/21/2022 (150,280) -0.008%

UBS SECURITIES LLC USD 3,256,790 JPY (371,194,318) 01/21/2022 29,323 0.002%

UBS SECURITIES LLC CZK 118,131,311 USD (5,328,431) 02/18/2022 53,083 0.003%

UBS SECURITIES LLC PLN 74,477,000 USD (18,210,426) 02/18/2022 208,919 0.011%

UBS SECURITIES LLC PLN 8,387,000 USD (2,107,202) 02/18/2022 (32,963) -0.002%

UBS SECURITIES LLC USD 1,150,201 PLN (4,685,000) 02/18/2022 (8,474) 0.000%

UBS SECURITIES LLC EUR 32,924,000 USD (37,472,780) 02/25/2022 53,284 0.003%

UBS SECURITIES LLC USD 32,715,648 EUR (28,132,547) 02/25/2022 650,779 0.036%



UBS SECURITIES LLC USD 117,505,188 EUR (104,189,000) 02/25/2022 (1,247,183) -0.068%

UBS SECURITIES LLC USD 871,416 EUR (768,417) 02/25/2022 (4,409) 0.000%

UBS SECURITIES LLC USD 4,171,099 EUR (3,672,292) 02/25/2022 (14,500) -0.001%







UBS SECURITIES LLC USD 2,914,504 COP (11,332,174,793) 03/11/2022 149,303 0.008%

UBS SECURITIES LLC USD 6,042,067 COP (23,698,800,000) 03/11/2022 259,245 0.014%

UBS SECURITIES LLC USD 918,642 THB (30,893,561) 03/11/2022 (5,916) 0.000%

UBS SECURITIES LLC USD 16,670,415 CNH (106,404,457) 03/18/2022 17,267 0.001%

UBS SECURITIES LLC USD 4,922,938 SGD (6,735,579) 03/18/2022 (73,327) -0.004%

UBS SECURITIES LLC USD 3,047,079 ZAR (49,348,968) 03/18/2022 (15,815) -0.001%


Total Forward Currency Exchange Contracts (756,634)

Options Strike Price($) Exercise Date Shares/Par Value ($) % of Net Assets

FXO EUR CALL/USD PUT 1.138 02/25/2022 1.14 2/25/2022 118,100,000 1,084,384 0.059%

Total Options 1,084,384

Swap Contracts Notional Amount Market Value % of Net Assets

PLN IRS 02/12/2028 PAY FIX (5,024,499) 32,078 0.002%

PLN IRS 02/13/2018 PAY FIX (13,189,310) 85,866 0.005%

PLN IRS 02/14/2028 PAY FIX (9,986,191) 63,754 0.003%

GREECE CDS 12/20/2025 2,905,000 7,088 0.000%

GREECE CDS 06/20/2026 5,920,000 (11,147) (0.001%)

GREECE CDS 12/20/2024 2,737,000 21,830 0.001%

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GREECE CDS 12/20/2024 1,369,000 10,919 0.001%

GREECE CDS 12/20/2024 1,368,000 10,911 0.001%

GREECE CDS 06/20/2025 1,348,000 6,993 0.000%

GREECE CDS 06/20/2025 674,000 3,497 0.000%

GREECE CDS 06/20/2025 854,000 4,431 0.000%

GREECE CDS 06/20/2024 1,100,000 9,725 0.001%

GREECE CDS 06/20/2024 1,100,000 9,725 0.001%

GREECE CDS 12/20/2024 952,000 7,593 0.000%

GREECE CDS 12/20/2024 3,200,000 25,523 0.001%

GREECE CDS 12/20/2029 2,100,000 (77,053) (0.004%)

GREECE CDS 12/20/2029 2,100,000 (77,053) (0.004%)

GREECE CDS 06/20/2022 3,400,000 12,563 0.001%

GREECE CDS 06/20/2024 2,200,000 19,450 0.001%

CMBX AAA CDSI S13 PRC 12/16/2072 32,750,000 131,622 0.007%

USD IRS 06/26/2048 PAY FIX (3,920,000) (1,103,676) (0.060%)

USD ZCIS 1/4/29 REC CPI 1,400,000 0 0.000%

USD ZCIS 5/7/28 REC CPI 31,900,000 1,584,856 0.087%

USD ZCIS 6/22/25 REC CPI 33,200,000 1,628,261 0.089%

PLN IRS 11/05/2029 PAY FIX (4,594,821) 131,911 0.007%

CZK IRS 02/21/2022 REC FIX 789,752,000 51,832 0.003%

PLN IRS 10/22/2029 PAY FIX (15,882,353) 461,635 0.025%

PLN IRS 11/07/2029 PAY FIX (4,525,898) 127,755 0.007%

PLN IRS 11/06/2029 PAY FIX (4,594,821) 134,396 0.007%

FI TRS USD REC IBXXLLTR 03/20/22 17,845,000 44,128 0.002%

CDX IG CDSI S37 5Y 12/20/2026 72,120,000 1,761,747 0.096%

HYBB CDSI S37 5Y 12/20/2026 35,600,000 5,054,915 0.276%

PLN IRS 11/05/2029 PAY FIX (4,594,820) 131,911 0.007%

CZK IRS 02/20/2022 REC FIX 657,046,000 43,784 0.002%

PLN IRS 11/05/2029 PAY FIX (4,594,820) 130,368 0.007%

USD ZCIS 5/7/26 REC CPI 2,695,000 124,894 0.007%

MXN IRS 05/04/2027 REC FIX 53,000,000 (222,716) (0.012%)

USD ZCIS 2/5/26 REC CPI 28,450,000 2,095,542 0.115%

PLN IRS 09/24/2029 PAY FIX (23,200,000) 693,654 0.038%

USD ZCIS 9/8/25 REC CPI 1,600,000 41,194 0.002%

USD ZCIS 6/17/26 REC CPI 1,500,000 75,638 0.004%

PLN IRS 10/22/2029 PAY FIX (11,117,647) 322,215 0.018%

USD ZCIS 9/8/26 REC CPI 1,400,000 39,151 0.002%

USD ZCIS 6/25/28 REC CPI 1,500,000 81,392 0.004%

FI TRS USD REC IBXXLLTR 03/20/22 18,005,000 56,302 0.003%

PLN IRS 08/11/2031 PAY FIX (3,750,000) 133,101 0.007%

PLN IRS 11/05/2029 PAY FIX (4,594,820) 131,718 0.007%

14,054,221

Futures Contracts Contracts Expiration Contract Value Unrealized G/L % of Net Assets

CNH2 CAN 10YR BOND FUT MAR 22 153 3/22/2022 17,250,374 500,533 0.943%

FVH2 5YR US NOTE FUT MAR 22 (70) 3/31/2022 (8,468,359) (9,537) (0.463%)

G H2 LONG GILT FUT MAR 22 38 3/29/2022 6,424,219 59,571 0.351%

IKH2 EURO BTP FUT MAR 22 (10) 3/8/2022 (1,673,709) 19,421 (0.091%)

JBH2 JPN 10Y BOND OSE FUT MAR 22 27 3/14/2022 35,581,414 (443,990) 1.945%

KAAH2 KOREA 10YR BND FUT MAR 22 252 3/15/2022 26,345,792 (350,295) 1.440%

KEH2 KOREA 3YR BND FUT MAR 22 183 3/15/2022 16,796,744 (34,638) 0.918%

OEH2 EURO BOBL FUT MAR 22 122 3/8/2022 18,506,636 27,399 1.012%

RXH2 EURO BUND FUTURE MAR 22 (134) 3/8/2022 (26,144,036) 222,645 (1.429%)

TUH2 2YR US NOTE FUT MAR 22 12 3/31/2022 2,618,063 (5,173) 0.143%

TYH2 UST 10YR FUT MAR 22 1,359 3/22/2022 177,307,031 (862,012) 9.692%

UBH2 EURO BUXL 30Y FUT MAR 22 (49) 3/8/2022 (11,533,301) 470,573 (0.630%)

USH2 UST 30YR FUT MAR 22 (183) 3/22/2022 (29,360,063) (16,432) (1.605%)

UXYH2 UST 10YR ULTRA FUT MAR 22 493 3/22/2022 72,193,688 17,748 3.946%

WNH2 ULTRA US BOND FUT MAR 22 (99) 3/22/2022 (19,515,375) (40,432) (1.067%)

YMH2 AUST 3YR BOND FUT MAR 22 1,877 3/15/2022 155,884,686 3,078,974 8.521%

Total Futures Contracts 2,634,357

NET ASSETS 1,829,453,595

NET ASSET VALUE PER SHARE

Global Multi-Sector Bond Fund Shares 11.55

($1,428,101,257 / 123,614,483 Shares Outstanding)

Global Multi-Sector Bond Fund - Advisor Class Shares 11.57

($17,883,186 / 1,546,382 Shares Outstanding)

Global Multi-Sector Bond Fund - I Class Shares 11.55

($383,469,153 / 33,190,957 Shares Outstanding)

ADR American Depository Receipts

ADS American Depository Shares

AR Auction Rate security with an interest rate reset feature through a modified Dutch auction at predetermined short-term intervals; rate shown is effective rate at period end

ARM Adjustable Rate Mortgage

BAN Bond Anticipation Note

CDA Community Development Administration

CLN Credit Linked Note

CMO Collateralized Mortgage Obligation

Total Swap Contracts

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COP Certificate of Participation

DOT Department of Transportation

EFA Educational Facility Authority

ETC Equipment Trust Certificate

FDR Fiduciary Depository Receipt

FRN Floating Rate Note

GDR Global Depository Receipts

GDS Global Depository Shares

GO General Obligation

HDA Housing Development Authority

HEFA Health & Education Facility Authority

HFA Health Facility Authority

HFC Housing Finance Corp

HFFA Health Facility Financing Authority

HHEFA Health & Higher Education Facility Authority

IDA Industrial Development Authority/Agency

IDB Industrial Development Bond

IDC Industrial Development Corp

IDRB Industrial Development Revenue Bond

IO Interest Only security for which the fund receives interest on notional principal (par)

PCR Pollution Control Revenue

PFA Public Finance Authority

PIK Payment-in-kind

PTC Pass-Through Certificate

RAC Revenue Anticipation Certificate

RAN Revenue Anticipation Note

RAW Revenue Anticipation Warrant

REIT Real Estate Investment Trust

RIB Residual interest bond issued by a third party securitization trust and purchased directly through a cash transaction that involved no exchange of previously held securities; rate varies

inversely to short-term rates and the rate presented is the effective rate at period-end

STEP Stepped coupon bond for which the coupon rate of interest will adjust on specified future dates(s)

TAN Tax Anticipation Note

TAW Tax Anticipation Warrant

TBA To Be Announced purchase commitment

TDFA Trade & Deposit Facility Agreement

TECP Tax-Exempt Commercial Paper

TRAN Tax Revenue Anticipation Note

VR Variable Rate; rate shown is effective rate at period end

VRDN Variable Rate Demand Note under which the holder has the right to sell the security to the issuer or the issuer's agent at a predetermined price (generally par) on specified dates upon

required notification; rate shown is effective rate at period-end

ADP Andorran Peseta DOP Dominican Peso LBP Lebanese Pound QAR Qatari Rial

AED United Arab Emirates Dirham DZD Algerian Dinar LKR Sri Lanka Rupee RON Romanian Leu

AFA Afghanistan Afghani ECS Ecuador Sucre LRD Liberian Dollar RSD Serbian Dinar

ALL Albania Lek EEK Estonian Kroon LTL Lithuanian Litas RUB Russian Rouble

AMD Armenian Dram EGP Egyptian Pound LVL Latvian Lats RWF Rwandan Franc

ANG Netherlands Antillian Guilder ETB Ethiopian Birr LYD Libyan Dinar SAR Saudi Riyal

AOA Angolan Kwanza EUR Euro MAD Moroccan Dirham SDD Sudanese Dinar

ARS Argentine Peso FJD Fiji Dollar MDL Moldavan Leu SEK Swedish Krona

AUD Australian Dollar FKP Falkland Islands Pound MGA Malagasy Franc SGD Singapore Dollar

AZM Azerbaijan Manat GBP British Pound MOP Macau Pataca SIT Slovenian Tolar

BAM Bosnia and Herzegovina Convertible Mark GHC Ghanaian Cedi MRO Mauritanian Ouguiya SKK Slovak Koruna

BBD Bardados Dollar GIP Gibraltar Pound MTL Maltese Lira SLL Sierra Leonean Leone

BDT Bandladesh Taka GTQ Guatemalan Quetzal MUR Mauritius Rupee SOS Somali Shilling

BGN Bulgarian Lev GYD Guyanan Dollar MWK Malawi Kwacha SVC El Salvador Colon

BHD Bahraini Dinar HKD Hong Kong Dollar MXN Mexican Peso SZL Swazi Lilangeni

BMD Bermudian Dollar HNL Honduran Lempira MYR Malaysian Ringgit THB Thai Baht

BOB Bolivian Boliviano HRK Croatian Kuna MZM Mozambican Metical TND Tunisian Dinar

BRL Brazilian Real HTG Haitian Gourde NAD Namibian Dollar TRY Turkish Lira

BSD Bahamian Dollar HUF Hungarian Forint NGN Nigerian Naira TTD Trinidad and Tobago Dollar

BWP Botswana Pula IDR Indonesian Rupiah NIO Nicarguan Cordoba Oro TWD Taiwan Dollar

BYR Belarusian Ruble ILS Israeli New Shekel NOK Norwegian Kroner TZS Tanzanian Shilling

BZD Belize Dollar INR Indian Rupee NPR Nepalese Rupee UAG Ukrainian Hryvnai

CAD Canadian Dollar IQD Iraqi Dinar NZD New Zealand Dollar UGX Uganda Shilling

CHF Swiss Franc IRR Iranian Rial OMR Omani Rial USD U.S. Dollar

CLP Chilean Peso ISK Iceland Krona PAB Panamanian Balboa UYU Uruguayan Peso

CNY China Yuan Renminbi JMD Jamaican Dollar PEN Peruvian Nuevo Sol VEB Venezuelan Bolivar

COP Columbian Peso JOD Jordanian Dinar PGK Papua New Guinea Kina VND Vietnamese Dong

CRC Costa Rican Colon JPY Japanese Yen PHP Philippine Peso XAF CFA Franc BEAC

CUP Cuban Peso KES Kenyan Shilling PKR Pakistan Rupee XCD East Caribbean Dollar

CYP Cyprus Pound KHR Cambodian Riel PLN Polish Zloty XOF CFA Franc BCEAO

CZK Czech Koruna KPW North Korean Won PYG Guarani YER Yemeni Rial

Important Information

The portfolio data contained herein is for informational purposes only and does not constitute a recommendation or an offer for a particular security or investment. Unlike the fund's regulatory

filings, the portfolio data and its presentation in this document do not conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation

requirements. The holdings are not audited and the information may differ in certain respects, such as derivatives exposure and security name, from the information found in the complete list

of portfolio investments in the semiannual and annual shareholder reports and Form N-Q.

Page 12 of 12

Documents

T. Rowe Price Global Multi-Sector Bond Fund 12/31/2021