NPORT-P false 0001124459 XXXXXXXX S000012347 C000033574 Franklin Global Trust 811-10157 0001124459 549300QA68NBC3L2Z719 One Franklin Parkway San Mateo 94403-1906 650-312-2000 Franklin Emerging Market Debt Opportunities Fund S000012347 XGXXG3CR7RLU46NINB35 2026-07-31 2026-01-31 N 140092219.77 2386796.71 137705423.06 0.00000000 1444128.70000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1990000.00000000 0.00000000 0.00000000 407273.52000000 ARS AZN BRL COP DOP EGP EUR GBP HKD IDR INR JMD JPY KZT MXN NGN PEN TRY UGX USD UZS ZAR N Benin Government Bond 635400Q11P6AE5A5Y230 08205QAA6 400000.00000000 PA USD 418199.74000000 0.303691554556 Long DBT NUSS BJ N 2 2038-02-13 Fixed 7.96000000 N N N N N N Ardshinbank CJSC Via Dilijan Finance BV 549300DCGXFXAP2FEV07 254032AD7 500000.00000000 PA USD 505187.31000000 0.366860867766 Long DBT CORP NL N 2 2031-01-22 Fixed 6.60000000 N N N N N N Adani Electricity Mumbai Ltd. 335800AIC1B5EBFVUC38 00654GAA1 1760000.00000000 PA USD 1649305.68000000 1.197705684605 Long DBT CORP IN N 2 2030-02-12 Fixed 3.94900000 N N N N N N Alfa Bank AO Via Alfa Bond Issuance plc 54930015QM0G7XTNYR27 01538RAF6 1000000.00000000 PA USD 0.00000000 0.000000 Long DBT CORP IE N 3 2030-04-15 Floating 5.95000000 Y N N N N N Argentine Republic (The) 549300KPBYGYF7HCHO27 040114HX1 882343.00000000 PA USD 779108.87000000 0.565779366336 Long DBT NUSS AR N 2 2029-07-09 Fixed 1.00000000 N N N N N N Global Distressed Alpha Fund III LP N/A N/A 125152.16000000 PA USD 0.00000000 0.000000 Long DBT CORP US N 3 2049-02-20 Fixed 12.00000000 N N Y N N N Republic of Honduras 5493002DW1JNBNG17615 438180AJ0 1445000.00000000 PA USD 1458510.75000000 1.059152731671 Long DBT NUSS HN N 2 2030-06-24 Fixed 5.62500000 N N N N N N Republic of Colombia 549300MHDRBVRF6B9117 N/A 2315000000.00000000 PA 596389.50000000 0.433090786657 Long DBT NUSS CO N 2 2029-08-22 Fixed 11.00000000 N N N N N N Republic of Turkiye (The) 5493000PCHOG3B6S3Q85 N/A 114600000.00000000 PA 2682461.89000000 1.947971133156 Long DBT NUSS TR N 2 2026-08-12 Fixed 36.00000110 N N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 N/A 23000000.00000000 PA 504988.95000000 0.366716821152 Long DBT NUSS EG N 2 2027-08-13 Fixed 25.31800000 N N N N N N Petroleos Mexicanos 549300CAZKPF4HKMPX17 71643VAB1 2050000.00000000 PA USD 2047971.32000000 1.487211813806 Long DBT NUSS MX N 2 2032-02-16 Fixed 6.70000000 N N N N N N Yen N/A N/A -0.26000000 OU Currencies 0.00000000 0.000000 Short STIV JP N 1 N N N Republic of Iraq N/A N/A 525625.00000000 PA USD 523744.72000000 0.380337032748 Long DBT NUSS IQ N 2 2028-01-15 Fixed 5.80000000 N N N N N N Rand N/A N/A 0.05000000 OU Currencies 0.00000000 0.000000 Long STIV ZA N 1 N N N Argentine Republic (The) 549300KPBYGYF7HCHO27 040114HT0 1435000.00000000 PA USD 1113560.00000000 0.808653700961 Long DBT NUSS AR N 2 2035-07-09 Fixed 4.12499880 N N N N N N Republic of Cameroon International Bond 54930021BO6NHYGBBV24 N/A 2130000.00000000 PA 2219912.28000000 1.612073243500 Long DBT NUSS CM N 2 2032-07-07 Fixed 5.95000000 N N N N N N Republic of Ghana 213800PP4399SNNXZ126 N/A 1700000.00000000 PA USD 1556376.89000000 1.130221929837 Long DBT NUSS GH N 2 2035-07-03 Fixed 5.00000000 N N N N N N Tunisian Republic 254900B5LFB16S9T2T11 N/A 350000000.00000000 PA 2012130.40000000 1.461184574498 Long DBT NUSS TN N 2 2031-03-17 Fixed 4.20000000 N N N N N N Republic of Kazakhstan 5493007OEK8EF02UO833 N/A 215520000.00000000 PA 366499.72000000 0.266147630104 Long DBT NUSS KZ N 2 2027-10-24 Fixed 6.50000000 N N N N N N Federal Democratic Republic of Ethiopia N/A 29766LAA4 2700000.00000000 PA USD 2861923.32000000 2.078293836512 Long DBT NUSS ET N 2 2024-12-11 Fixed 6.62500000 Y N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 N/A 11032000.00000000 PA 240706.50000000 0.174798126792 Long DBT NUSS EG N 2 2027-10-01 Fixed 24.45800000 N N N N N N PA Autopista Rio Magdalena 549300DOJDJENE63OG19 69313QAA7 3667112178.09000000 PA 875391.61000000 0.635698718719 Long DBT CORP CO N 2 2036-06-15 Fixed 6.05000000 N N N N N N Republic of Guatemala 529900QKDFFU9UWW5315 N/A 1425000.00000000 PA USD 1393650.00000000 1.012051645484 Long DBT NUSS GT N 2 2050-06-01 Fixed 6.12500000 N N N N N N Nigerian Petroleum Corp. N/A N/A 2000000.00000000 PA USD 1990000.00000000 1.445113747722 Long DBT NUSS NG N 3 2030-12-15 Fixed 7.00000000 N N N N N N Benin Government International Bond 635400Q11P6AE5A5Y230 N/A 683000.00000000 PA 794576.97000000 0.577012112045 Long DBT NUSS BJ N 2 2032-01-19 Fixed 4.87500000 N N N N N N Egyptian Pound N/A N/A 6223.59000000 OU Currencies 132.61000000 0.000096299765 Long STIV EG N 1 N N N Provincia de Neuquen Argentina 549300X5HUL4FRDNBN35 N/A 0.00300000 PA USD 0.00000000 0.000000 Long DBT NUSS AR N 2 2030-05-12 Fixed 8.62499880 N N N N N N Ipoteka-Bank ATIB 213800UWVX5JSNXJS434 N/A 2500000000.00000000 PA 214385.43000000 0.155684086534 Long DBT CORP UZ N 2 2027-04-25 Fixed 20.50000000 N N N N N N Mozambique International Bond 213800759WLKYIKPER73 N/A 200000.00000000 PA USD 174488.53000000 0.126711443981 Long DBT NUSS MZ N 2 2031-09-15 Fixed 9.00000000 N N N N N N Digicel International Finance Ltd. / DIFL US LLC N/A 25381MAA5 1250000.00000000 PA USD 1300488.75000000 0.944399081097 Long DBT CORP US N 2 2032-08-01 Fixed 8.62500000 N N N N N N Federal Republic of Nigeria 549300GSBZD84TNEQ285 N/A 2479414000.00000000 PA 1826367.77000000 1.326286016494 Long DBT NUSS NG N 2 2032-06-25 Fixed 17.95000000 N N N N N N Meridiam Eastern Europe Investments SAS N/A N/A 357142.82000000 PA 453514.25000000 0.329336521338 Long ABS-MBS CORP FR N 3 2028-06-10 Fixed 8.85000000 N N N N N N Sphynx Capital Markets PCC N/A N/A 8000000.00000000 PA USD 0.00000000 0.000000 Long SN CORP MU Y 3 2009-02-05 Fixed 0.00000000 Y N N N N N Istanbul Metropolitan Municipality 213800T1VDQSNKA2MD76 46522TAB4 250000.00000000 PA USD 265374.86000000 0.192711989188 Long DBT NUSS TR N 2 2027-04-12 Fixed 10.75000000 N N N N N N Ecopetrol SA 254900IDGKCJICKBPA66 279158AP4 950000.00000000 PA USD 854279.43000000 0.620367310899 Long DBT NUSS CO N 2 2031-11-02 Fixed 4.62500000 N N N N N N Inter-American Development Bank VKU1UKDS9E7LYLMACP54 N/A 15130000000.00000000 PA 900408.52000000 0.653865693878 Long DBT NUSS ID N 2 2026-11-17 Fixed 5.10000000 N N N N N N Federal Democratic Republic of Ethiopia N/A N/A 620000.00000000 PA USD 657182.39000000 0.477237842487 Long DBT NUSS ET N 2 2024-12-11 Fixed 6.62500000 Y N N N N N Mexican Peso N/A N/A -0.31000000 OU Currencies -0.02000000 -0.00000001452 Short STIV MX N 1 N N N European Bank for Reconstruction & Development 549300HTGDOVDU6OGK19 N/A 115600000.00000000 PA 1025967.35000000 0.745044986030 Long DBT NUSS ZA N 2 2046-01-30 None 0.00000000 N N N N N N Country Garden Holdings Co. Ltd. 549300MGHLPT1EFHGF84 N/A 719660.00000000 PA USD 78910.72000000 0.057304003173 Long DBT CORP KY N 2 2031-12-31 None 0.00000000 N N N Y N Country Garden Holdings Co. Ltd. HKD XXXX N N N Braskem America Finance Co. 254900QMQAJ26H49CL75 N/A 740000.00000000 PA USD 296244.20000000 0.215128927690 Long DBT CORP US N 2 2041-07-22 Fixed 7.12500000 N N N N N N Dominican Republic 254900EHU7Q8FGVPI369 25714PES3 29000000.00000000 PA 566340.93000000 0.411269881327 Long DBT NUSS DO N 2 2033-02-03 Fixed 13.62500000 N N N N N N Braskem Netherlands Finance BV 2549000TLMHFQ74DS330 N/A 770000.00000000 PA USD 314506.50000000 0.228390787386 Long DBT CORP NL N 2 2034-10-15 Fixed 8.00000000 N N N N N N Telecommunications Services of Trinidad & Tobago Ltd. 5299007N4G3EZWXAMB76 87929TAA9 370000.00000000 PA USD 377540.60000000 0.274165382604 Long DBT CORP TT N 2 2029-10-18 Fixed 8.87500000 N N N N N N Petra Diamonds Ltd. 213800X4QZIAVSA12860 N/A 339904.00000000 NS 0.00000000 0.000000 Long CORP BM N 3 N N N Gabonese Republic N/A 362420AD3 300000.00000000 PA USD 256474.06000000 0.186248336703 Long DBT NUSS GA N 2 2031-02-06 Fixed 6.62500000 N N N N N N K2016470219 South Africa Ltd. N/A N/A 275106.00000000 NS 4489.93000000 0.003260532446 Long EC CORP ZA N 3 N N N MHP Lux SA 222100RHC7R1WZ1J3M44 59318YAA6 700000.00000000 PA USD 703716.44000000 0.511030302483 Long DBT CORP LU N 2 2026-04-03 Fixed 6.95000000 N N N N N N Romania 315700IASY927EDWBK92 N/A 1370000.00000000 PA 1661360.03000000 1.206459406668 Long DBT NUSS RO N 2 2036-02-22 Fixed 5.62500000 N N N N N N Petra Diamonds US Treasury plc 635400LZYOO6WHAO2H58 N/A 1415349.51210000 PA USD 877939.92000000 0.637549270385 Long DBT CORP GB N 2 2030-03-08 Fixed 9.74999880 N N N N N N Republic of Armenia 5299000H77JSW90G7935 042207AC4 720000.00000000 PA USD 686978.41000000 0.498875349085 Long DBT NUSS AM N 2 2029-09-26 Fixed 3.95000000 N N N N N N Gabonese Republic N/A 362420AD3 1740000.00000000 PA USD 1487549.52000000 1.080240332548 Long DBT NUSS GA N 2 2031-02-06 Fixed 6.62500000 N N N N N N United Mexican States 254900EGTWEU67VP6075 N/A 16120000.00000000 PA 901112.30000000 0.654376770337 Long DBT NUSS MX N 2 2031-05-29 Fixed 7.75000080 N N N N N N Ukraine 6354001WLTJXOMEXPY07 903724CB6 639491.00000000 PA USD 398372.38000000 0.289293167362 Long DBT NUSS UA N 2 2035-02-01 Fixed 4.50000000 N N N N N N Provincia del Chubut Argentina 529900V5CYYSD8ADKQ03 17127LAA3 867702.68800000 PA USD 862062.62000000 0.626019368623 Long DBT NUSS AR N 2 2030-07-26 Fixed 7.75000080 N N N N N N Congolese International Bond 529900BXT90HR4QTB688 N/A 1600000.00000000 PA USD 1492994.10000000 1.084194120190 Long DBT NUSS CG N 2 2032-11-07 Fixed 9.87500000 N N N N N N Federal Republic of Nigeria 549300GSBZD84TNEQ285 N/A 900000.00000000 PA USD 843672.87000000 0.612664956290 Long DBT NUSS NG N 2 2047-11-28 Fixed 7.62500000 N N N N N N Global Distressed Alpha Fund III LP N/A N/A 93170.00000000 PA USD 0.00000000 0.000000 Long DBT CORP US N 3 2049-02-20 Fixed 12.00000000 N N Y N N N Country Garden Holdings Co. Ltd. 549300MGHLPT1EFHGF84 N/A 347369.82000000 PA USD 38210.68000000 0.027748130139 Long DBT CORP KY N 2 2032-12-31 Fixed 5.00000000 N N Y N N N MC Brazil Downstream Trading SARL 213800T2A7R9TYNXZI63 55292WAA8 1313944.43900000 PA USD 1168674.74000000 0.848677353462 Long DBT CORP LU N 2 2031-06-30 Fixed 7.25000000 N N N N N N KazMunayGas National Co. JSC 2138001H1M69RFJCSH88 48667QAP0 1450000.00000000 PA USD 1363711.63000000 0.990310766051 Long DBT CORP KZ N 2 2047-04-19 Fixed 5.75000000 N N N N N N Government of Jamaica (The) 529900Y93KNSXZI8KK56 470160CF7 78500000.00000000 PA 528504.37000000 0.383793432572 Long DBT NUSS JM N 2 2030-11-03 Fixed 9.62500000 N N N N N N Ukraine 6354001WLTJXOMEXPY07 903724CA8 758281.00000000 PA USD 479331.05000000 0.348084366867 Long DBT NUSS UA N 2 2034-02-01 Fixed 4.50000000 N N N N N N Inter-American Development Bank VKU1UKDS9E7LYLMACP54 N/A 47000000.00000000 PA 511998.64000000 0.371807172602 Long DBT NUSS IN N 2 2029-01-25 Fixed 7.00000000 N N N N N N Heritage Petroleum Co. Ltd. 25490055MYPABN06OA04 42727GAA6 650000.00000000 PA USD 668752.50000000 0.485639915363 Long DBT CORP TT N 2 2029-08-12 Fixed 9.00000000 N N N N N N Telecommunications Services of Trinidad & Tobago Ltd. 5299007N4G3EZWXAMB76 87929TAA9 600000.00000000 PA USD 612228.00000000 0.444592512332 Long DBT CORP TT N 2 2029-10-18 Fixed 8.87500000 N N N N N N Ukraine 6354001WLTJXOMEXPY07 903724CH3 2881000.00000000 PA USD 2300239.87000000 1.670406160400 Long DBT NUSS UA N 2 2032-02-01 Fixed 3.99999960 N N N N N N Country Garden Holdings Co. Ltd. 549300MGHLPT1EFHGF84 N/A 5820.00000000 NS 219.37000000 0.000159303820 Long EC CORP KY N 2 N N N N/A N/A N/A 1.00000000 NC N/A -214739.71000000 -0.15594136035 N/A DFE N/A N 2 Citibank MBNUM2BPBDO7JBLYG310 14600000.00000000 EUR 17119000.78000000 USD 2026-03-10 -214739.71000000 N N N Republic of Kazakhstan 5493007OEK8EF02UO833 N/A 870900000.00000000 PA 1379834.04000000 1.002018663708 Long DBT NUSS KZ N 2 2028-04-18 Fixed 5.00000000 N N N N N N International Bank for Reconstruction & Development ZTMSNXROF84AHWJNKQ93 N/A 15300000000.00000000 PA 913551.74000000 0.663410140065 Long DBT NUSS ID N 2 2026-02-09 Fixed 4.60000000 N N N N N N N/A N/A N/A 1.00000000 NC N/A 4636.80000000 0.003367187650 N/A DFE N/A N 2 Citibank MBNUM2BPBDO7JBLYG310 317000000.00000000 JPY 2058794.90000000 USD 2026-03-10 4636.80000000 N N N Republic of El Salvador 529900AKDMUSFSDOM949 N/A 2900000.00000000 PA USD 3016000.00000000 2.190182443785 Long DBT NUSS SV N 2 2035-06-15 Fixed 7.65000000 N N N N N N Islamic Republic of Pakistan 529900LOP29R5WKHOD86 695847AT0 1510000.00000000 PA USD 1523268.79000000 1.106179231108 Long DBT NUSS PK N 2 2031-04-08 Fixed 7.37500000 N N N N N N Country Garden Holdings Co. Ltd. 549300MGHLPT1EFHGF84 N/A 55575.00000000 PA USD 4098.66000000 0.002976396941 Long DBT CORP KY N 2 2034-12-31 Fixed 2.25000000 N N Y N N N Republic of Turkiye (The) 5493000PCHOG3B6S3Q85 900123CB4 1800000.00000000 PA USD 1358475.39000000 0.986508272377 Long DBT NUSS TR N 2 2043-04-16 Fixed 4.87500000 N N N N N N Global Distressed Alpha Fund III LP N/A N/A 1159008.83000000 PA USD 0.00000000 0.000000 Long DBT CORP US N 3 2049-02-20 Fixed 12.00000000 N N Y N N N Bolivarian Republic of Venezuela 529900XM8PJTJK5OJI77 N/A 3000000.00000000 PA USD 1102800.00000000 0.800839920094 Long DBT NUSS VE N 2 2025-04-21 Fixed 7.65000000 Y N N N N N Uzbekneftegaz JSC 213800LUZJZFLJD4MJ51 91825MAC7 1350000.00000000 PA USD 1462638.96000000 1.062150587462 Long DBT NUSS UZ N 2 2030-05-07 Fixed 8.75000000 N N N N N N Colombian Peso N/A N/A 2268788.99000000 OU Currencies 613.70000000 0.000445661460 Long STIV CO N 1 N N N Republic of Angola 549300QHR2R3J8JSGK83 035198AF7 2447000.00000000 PA USD 2400109.26000000 1.742930094302 Long DBT NUSS AO N 2 2032-04-14 Fixed 8.75000000 N N N N N N Frigorifico Concepcion SA 529900Q6VZVL47QJCQ91 358648AA1 1700000.00000000 PA USD 946987.36000000 0.687690679827 Long DBT CORP PY N 2 2028-07-21 Fixed 7.70000000 N N N N N N Country Garden Holdings Co. Ltd. 549300MGHLPT1EFHGF84 N/A 988619.00000000 PA USD 63024.46000000 0.045767594768 Long DBT CORP KY N 2 2036-12-31 Fixed 1.25000000 N N Y N N N Republic of Cote d'Ivoire 254900ICW11T82O6H590 N/A 2340000.00000000 PA 2737874.17000000 1.988210855579 Long DBT NUSS CI N 2 2032-01-30 Fixed 4.87500000 N N N N N N International Finance Corp. QKL54NQY28TCDAI75F60 N/A 500000.00000000 PA 304340.68000000 0.221008492793 Long DBT NUSS AZ N 2 2027-07-23 Fixed 8.00000000 N N N N N N Dominican Republic 254900EHU7Q8FGVPI369 25714PEB0 850000.00000000 PA USD 840012.50000000 0.610006840205 Long DBT NUSS DO N 2 2049-06-05 Fixed 6.40000000 N N N N N N Bolivarian Republic of Venezuela N/A N/A 925920.00000000 NS USD 1443778.72000000 1.048454511025 Long CORP VE N 3 N N N Republic of El Salvador 529900AKDMUSFSDOM949 283875CD2 1200000.00000000 PA USD 35400.00000000 0.025707048577 Long DBT NUSS SV N 2 2030-04-17 Fixed 0.25000000 N N N N N N Ukraine 6354001WLTJXOMEXPY07 903724CG5 221577.00000000 PA USD 125821.13000000 0.091369771214 Long DBT NUSS UA N 2 2036-02-01 Fixed 0.00000000 N N N N N N Nuevo Sol N/A N/A 2.59000000 OU Currencies 0.77000000 0.000000559164 Long STIV PE N 1 N N N Romania 315700IASY927EDWBK92 N/A 445000.00000000 PA 551722.95000000 0.400654482401 Long DBT NUSS RO N 2 2032-05-30 Fixed 5.25000000 N N N N N N Republic of Kazakhstan 5493007OEK8EF02UO833 N/A 170000000.00000000 PA 322335.50000000 0.234076111773 Long STIV NUSS KZ N 2 2026-05-15 None 0.00000000 N N N N N N Republic of South Africa 378900AAFB4F17004C49 836205BB9 1600000.00000000 PA USD 1320204.48000000 0.958716403946 Long DBT NUSS ZA N 2 2049-09-30 Fixed 5.75000000 N N N N N N Argentine Republic (The) 549300KPBYGYF7HCHO27 040114HT0 200000.00000000 PA USD 155200.00000000 0.112704348566 Long DBT NUSS AR N 2 2035-07-09 Fixed 4.12499880 N N N N N N Republic of Kazakhstan 5493007OEK8EF02UO833 N/A 319489000.00000000 PA 614128.42000000 0.445972574175 Long DBT NUSS KZ N 2 2026-08-04 Fixed 10.50000000 N N N N N N Federative Republic of Brazil 254900ZFY40OYEADAP90 105756CB4 1870000.00000000 PA USD 1377068.00000000 1.000009999170 Long DBT NUSS BR N 2 2050-01-14 Fixed 4.75000000 N N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 N/A 66275000.00000000 PA 1446049.99000000 1.050103879619 Long DBT NUSS EG N 2 2027-10-01 Fixed 24.45800000 N N N N N N Republic of Montenegro 747800V014106FYLL014 N/A 1650000.00000000 PA 2013160.00000000 1.461932257470 Long DBT NUSS ME N 2 2032-04-01 Fixed 4.87500000 N N N N N N K2016470260 South Africa Ltd. 3789003E1C22310B3356 N/A 2133302.40110000 PA USD 0.00000000 0.000000 Long DBT CORP ZA N 3 2022-12-31 Fixed 25.00000000 Y N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 03846JAC4 1310000.00000000 PA USD 1115671.19000000 0.810186821410 Long DBT NUSS EG N 2 2061-02-16 Fixed 7.50000000 N N N N N N Republic of Armenia 5299000H77JSW90G7935 042207AD2 750000.00000000 PA USD 683199.32000000 0.496131019983 Long DBT NUSS AM N 2 2031-02-02 Fixed 3.60000000 N N N N N N Global Distressed Alpha Fund III LP N/A N/A 4424861.20000000 NS USD 0.00000000 0.000000 Long BM N 3 N N N Republic of Uzbekistan International Bond 213800L6VDKUM3TCM927 91824PAB3 4230000000.00000000 PA 362168.67000000 0.263002474377 Long DBT NUSS UZ N 2 2027-05-29 Fixed 16.62500000 N N N N N N Tunisian Republic Bond 254900B5LFB16S9T2T11 N/A 700000.00000000 PA 826009.29000000 0.599837879761 Long DBT NUSS TN N 2 2026-07-15 Fixed 6.37500000 N N N N N N Romania 315700IASY927EDWBK92 N/A 1450000.00000000 PA 1551338.49000000 1.126563105161 Long DBT NUSS RO N 2 2035-10-29 Fixed 3.87500000 N N N N N N Republic of South Africa 378900AAFB4F17004C49 N/A 37850000.00000000 PA 2315337.86000000 1.681370136738 Long DBT NUSS ZA N 2 2048-02-28 Fixed 8.75000000 N N N N N N Banque Ouest Africaine de Developpement 529900LIZJABE4JJS826 06675QAE3 700000.00000000 PA USD 709827.82000000 0.515468312159 Long DBT NUSS US N 2 2055-02-13 Fixed 8.20000000 N N N N N N Astana Finance JSC N/A N/A 193625.00000000 NS USD 0.00000000 0.000000 Long EC CORP KZ Y 3 N N N IHS Holding Ltd. 213800CLGMKL63VKTD94 44963HAD7 650000.00000000 PA USD 679381.48000000 0.493358551103 Long DBT CORP KY N 2 2031-11-29 Fixed 8.25000000 N N N N N N Argentina Bonos del Tesoro Nacional Capitalizable en Pesos N/A N/A 1720000000.00000000 PA 1156921.97000000 0.840142635120 Long DBT NUSS AR N 2 2026-06-30 Fixed 24.08000000 N N N N N N Tenge N/A N/A 123.35000000 OU Currencies 0.24000000 0.000000174285 Long STIV KZ N 1 N N N Republic of Colombia 549300MHDRBVRF6B9117 195325EG6 480000.00000000 PA USD 501888.00000000 0.364464949053 Long DBT NUSS CO N 2 2034-02-02 Fixed 7.50000000 N N N N N N K2016470219 South Africa Ltd. 378900DECAC8CFA88345 N/A 4842864.33940000 PA USD 0.00000000 0.000000 Long DBT CORP ZA N 3 2022-12-31 Fixed 3.00000000 Y N N N N N Republic of Bulgaria 529900PG0XCL4LICL838 N/A 700000.00000000 PA 856975.60000000 0.622325236695 Long DBT NUSS BG N 2 2032-09-05 Fixed 3.62500000 N N N N N N Kosmos Energy Ltd. 213800YDFJ3OT9B5P157 500688AJ5 2100000.00000000 PA USD 1326780.99000000 0.963492185359 Long DBT CORP US N 2 2031-10-01 Fixed 8.75000000 N N N N N N Mozambique International Bond 213800759WLKYIKPER73 N/A 2271000.00000000 PA USD 1981317.21000000 1.438808411442 Long DBT NUSS MZ N 2 2031-09-15 Fixed 9.00000000 N N N N N N Republic of Uzbekistan International Bond 213800L6VDKUM3TCM927 91824PAB3 12500000000.00000000 PA 1070238.40000000 0.777194083005 Long DBT NUSS UZ N 2 2027-05-29 Fixed 16.62500000 N N N N N N Ipoteka-Bank ATIB 213800UWVX5JSNXJS434 N/A 2510000000.00000000 PA 208113.20000000 0.151129269549 Long DBT CORP UZ N 2 2028-10-09 Fixed 17.50000000 N N N N N N Country Garden Holdings Co. Ltd. 549300MGHLPT1EFHGF84 N/A 29925.00000000 PA USD 972.56000000 0.000706261219 Long DBT CORP KY N 2 2034-12-31 None 0.00000000 N N N Y N Country Garden Holdings Co. Ltd. HKD XXXX N N N Ambipar Lux SARL 9845008C0E14F9BDEK55 02319WAB7 600000.00000000 PA USD 87742.21000000 0.063717323581 Long DBT CORP LU N 2 2033-02-05 Fixed 10.87500000 Y N N N N N Provincia del Chubut Argentina 529900V5CYYSD8ADKQ03 17127LAA3 81140.55000000 PA USD 80613.14000000 0.058540279829 Long DBT NUSS AR N 2 2030-07-26 Fixed 7.75000080 N N N N N N Uganda Shilling N/A N/A -0.02000000 OU Currencies 0.00000000 0.000000 Short STIV UG N 1 N N N Federative Republic of Brazil Bond N/A N/A 15290686.23350000 PA 2652326.75000000 1.926087361747 Long DBT NUSS BR N 2 2035-05-15 Fixed 6.00000140 N N N N N N Gabonese Republic N/A 362420AE1 2250000.00000000 PA USD 1889188.27000000 1.371905497996 Long DBT NUSS GA N 2 2031-11-24 Fixed 7.00000000 N N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 03846JAE0 875000.00000000 PA USD 882035.41000000 0.640523365311 Long DBT NUSS EG N 2 2033-09-30 Fixed 7.30000000 N N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 N/A 17100000.00000000 PA 358092.22000000 0.260042206067 Long STIV NUSS EG N 2 2026-03-03 None 0.00000000 N N N N N N Ukraine 6354001WLTJXOMEXPY07 903724CC4 693632.00000000 PA USD 422884.34000000 0.307093453985 Long DBT NUSS UA N 2 2036-02-01 Fixed 4.50000000 N N N N N N Hashemite Kingdom of Jordan 5493000JZ4MYPVMBVN50 418097AJ0 1450000.00000000 PA USD 1437108.15000000 1.043610424386 Long DBT NUSS JO N 2 2047-10-10 Fixed 7.37500000 N N N N N N Hashemite Kingdom of Jordan 5493000JZ4MYPVMBVN50 418097AL5 1400000.00000000 PA USD 1412528.54000000 1.025761011158 Long DBT NUSS JO N 2 2030-07-07 Fixed 5.85000000 N N N N N N Grenada N/A 38373UAE2 646896.76160000 PA USD 626519.51000000 0.454970832722 Long DBT NUSS GD N 2 2030-05-12 Fixed 7.00000000 N Y N N N N Ukraine 6354001WLTJXOMEXPY07 903724CF7 265892.00000000 PA USD 151485.82000000 0.110007156315 Long DBT NUSS UA N 2 2035-02-01 Fixed 0.00000000 N N N N N N Global Distressed Alpha Fund III LP N/A N/A 80178.37000000 PA USD 0.00000000 0.000000 Long DBT CORP BM N 3 2049-02-20 Fixed 12.00000000 N N Y N N N Corp. Andina de Fomento UKZ46SXGNYCZK0UOZE76 N/A 8630000.00000000 PA 469617.69000000 0.341030643212 Long DBT NUSS MX N 2 2030-06-10 Fixed 7.50000000 N N N N N N Republic of Iraq N/A N/A 2121875.00000000 PA USD 2114284.57000000 1.535367687791 Long DBT NUSS IQ N 2 2028-01-15 Fixed 5.80000000 N N N N N N Braskem Idesa SAPI YH0V7ZHY352ITDGEYB83 10554NAB4 1640000.00000000 PA USD 1077521.00000000 0.782482618371 Long DBT CORP MX N 2 2032-02-20 Fixed 6.99000000 Y N N N N N N/A N/A N/A 1.00000000 NC N/A 11080.19000000 0.008046298942 N/A DFE N/A N 2 Citibank MBNUM2BPBDO7JBLYG310 1075246.70000000 USD 915000.00000000 EUR 2026-03-10 11080.19000000 N N N Russian Ruble N/A N/A 19079.83000000 OU Currencies 251.05000000 0.000182309450 Long STIV RU N 1 N N N Republic of Uganda 549300NF1DEFHG8XLQ11 N/A 5029500000.00000000 PA 1395218.38000000 1.013190583926 Long DBT NUSS UG N 2 2029-08-23 Fixed 14.25000150 N N N N N N Republic of Uzbekistan International Bond 213800L6VDKUM3TCM927 91824PAD9 8100000000.00000000 PA 695857.59000000 0.505323301390 Long DBT NUSS UZ N 2 2028-02-25 Fixed 15.50000000 N N N N N N Naira N/A N/A 356087.63000000 OU Currencies 256.74000000 0.000186441459 Long STIV NG N 1 N N N Dominican Republic 254900EHU7Q8FGVPI369 25714PFB9 800000.00000000 PA USD 855200.00000000 0.621035817614 Long DBT NUSS DO N 2 2037-03-15 Fixed 6.95000000 N N N N N N Global Distressed Alpha Fund III LP N/A N/A 550596.02000000 PA USD 0.00000000 0.000000 Long DBT CORP US N 3 2049-02-20 Fixed 12.00000000 N N Y N N N Saderea DAC 635400IPZLZJ55ANED20 N/A 962882.55800000 PA USD 982140.21000000 0.713218251086 Long DBT CORP IE N 2 2026-11-30 Fixed 12.50000000 Y N N N N N Benin Government International Bond 635400Q11P6AE5A5Y230 08205QAC2 1400000.00000000 PA USD 1487566.44000000 1.080252619645 Long DBT NUSS BJ N 2 2041-01-23 Fixed 8.37500000 N N N N N N Republic of Angola 549300QHR2R3J8JSGK83 035198AC4 1200000.00000000 PA USD 1070902.82000000 0.777676576712 Long DBT NUSS AO N 2 2048-05-08 Fixed 9.37500000 N N N N N N Franklin Institutional U.S. Government Money Market Fund 549300M4TP89K77LG374 457756500 5219029.67000000 NS USD 5219029.67000000 3.789995741653 Long STIV RF US N 1 N N N Asian Infrastructure Investment Bank (The) 25490065OSV2524LCR32 N/A 57600000.00000000 PA 626597.64000000 0.455027569776 Long DBT NUSS IN N 2 2029-03-01 Fixed 7.00000000 N N N N N N Republic of Colombia 549300MHDRBVRF6B9117 N/A 3805500000.00000000 PA 1053464.40000000 0.765013008631 Long DBT NUSS CO N 2 2033-02-09 Fixed 13.25000000 N N N N N N Arab Republic of Egypt 529900GFIVH4086NMH82 N/A 18000000.00000000 PA 395208.74000000 0.286995770549 Long DBT NUSS EG N 2 2027-08-13 Fixed 25.31800000 N N N N N N Republic of Bulgaria 529900PG0XCL4LICL838 N/A 1990000.00000000 PA 1341774.29000000 0.974380137095 Long DBT NUSS BG N 2 2050-09-23 Fixed 1.37500000 N N N N N N EURO N/A N/A 114093.24000000 OU Currencies 135240.42000000 0.098209944819 Long STIV XX N 1 N N N Istanbul Metropolitan Municipality 213800T1VDQSNKA2MD76 46522TAC2 1245000.00000000 PA USD 1370686.45000000 0.995375795332 Long DBT NUSS TR N 2 2028-12-06 Fixed 10.50000000 N N N N N N GDZ Elektrik Dagitim A/S 984500B63B5766038A64 36270TAA1 1500000.00000000 PA USD 1502967.21000000 1.091436471129 Long DBT CORP TR N 2 2029-10-15 Fixed 9.00000000 N N N N N N Republic of Bulgaria 529900PG0XCL4LICL838 N/A 250000.00000000 PA 311706.94000000 0.226357781032 Long DBT NUSS BG N 2 2029-09-23 Fixed 4.12500000 N N N N N N Ambipar Lux SARL 9845008C0E14F9BDEK55 02319WAA9 671000.00000000 PA USD 130851.71000000 0.095022917102 Long DBT CORP LU N 2 2031-02-06 Fixed 9.87500000 Y N N N N N Republic of Colombia 549300MHDRBVRF6B9117 N/A 600000.00000000 PA 693176.38000000 0.503376239364 Long DBT NUSS CO N 2 2034-11-26 Fixed 5.75000000 N N N N N N Suriname Government International Bond 254900SYU4G5JM13TN77 86886PAF9 1400000.00000000 PA USD 1510194.00000000 1.096684477954 Long DBT NUSS SR N 2 2035-11-06 Fixed 8.50000000 N N N N N N Republic of Kazakhstan 5493007OEK8EF02UO833 N/A 394713000.00000000 PA 768279.06000000 0.557914890298 Long DBT NUSS KZ N 2 2026-09-16 Fixed 13.90000000 N N N N N N Provincia de Tierra Del Fuego Argentina N/A 886516AC7 307670.68000000 PA USD 307670.68000000 0.223426698210 Long DBT NUSS AR N 2 2030-01-21 Fixed 8.95000000 N N N N N N Rupiah N/A N/A 0.34000000 OU Currencies 0.00000000 0.000000 Long STIV ID N 1 N N N Petra Diamonds Ltd. 213800X4QZIAVSA12860 N/A 96243.00000000 NS 19754.12000000 0.014345201199 Long EC CORP BM N 1 N N N United Mexican States 254900EGTWEU67VP6075 N/A 54182500.00000000 PA 2734510.85000000 1.985768453584 Long DBT NUSS MX N 2 2047-11-07 Fixed 7.99999920 N N N N N N Dominican Republic 254900EHU7Q8FGVPI369 25714PES3 41650000.00000000 PA 813382.74000000 0.590668633032 Long DBT NUSS DO N 2 2033-02-03 Fixed 13.62500000 N N N N N N European Bank for Reconstruction & Development 549300HTGDOVDU6OGK19 N/A 400000.00000000 PA 241555.83000000 0.175414899887 Long DBT NUSS AZ N 2 2028-06-26 Fixed 8.50000000 N N N N N N 2026-03-02 Franklin Global Trust Monica Krogh Monica Krogh Assistant Treasurer