# EDGAR Filing Document

**Accession Number:** 0000880268
**File Stem:** 0000880268-25-000029
**Filing Date:** 2025-6
**Character Count:** 321636
**Document Hash:** 962de8933a8346e2d51e8ced6e3356a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000880268-25-000029.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0000880268-25-000029

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**EFFECTIVENESS DATE**: 20250627

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY INTERNATIONAL BOND FUNDS
- **CENTRAL INDEX KEY:** 0000880268

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06441
- **FILM NUMBER:** 251083965

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **STREET 2:** 9TH FLOOR
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** 8003218321

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **STREET 2:** 9TH FLOOR
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BENHAM INTERNATIONAL FUNDS
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### GLOBAL BOND FUND (Series ID: S000035738)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000109545 | INVESTOR CLASS | AGBVX           |
| C000109546 | R5 CLASS       | AGBNX           |
| C000109547 | A CLASS        | AGBAX           |
| C000109548 | C CLASS        | AGBTX           |
| C000109549 | R CLASS        | AGBRX           |
| C000131612 | R6 CLASS       | AGBDX           |
| C000189710 | I CLASS        | AGBHX           |
| C000189711 | Y CLASS        | AGBWX           |
| C000194400 | G CLASS        | AGBGX           |

### EMERGING MARKETS DEBT FUND (Series ID: S000046096)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000144189 | INVESTOR CLASS | AEDVX           |
| C000144190 | R5 CLASS       | AEDJX           |
| C000144191 | A CLASS        | AEDQX           |
| C000144192 | C CLASS        | AEDHX           |
| C000144193 | R CLASS        | AEDWX           |
| C000144194 | R6 CLASS       | AEXDX           |
| C000189713 | I CLASS        | AEHDX           |
| C000189714 | Y CLASS        | AEYDX           |
| C000194401 | G CLASS        | AEDGX           |

?xml version='1.0' encoding='ASCII'? ck0000880268-20250430

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investment Company Act file number | Investment Company Act file number | **811-06441** | **811-06441** | **811-06441** |
| **AMERICAN CENTURY INTERNATIONAL BOND FUNDS** | **AMERICAN CENTURY INTERNATIONAL BOND FUNDS** | **AMERICAN CENTURY INTERNATIONAL BOND FUNDS** | **AMERICAN CENTURY INTERNATIONAL BOND FUNDS** | **AMERICAN CENTURY INTERNATIONAL BOND FUNDS** |
| (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) |
| **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **64111** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |
| **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** |
| (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | **816-531-5575** | **816-531-5575** |
| Date of fiscal year end: | **10-31** | **10-31** | **10-31** | **10-31** |
| Date of reporting period: | **04-30-2025** | **04-30-2025** | **04-30-2025** | **04-30-2025** |

---

------

**ITEM 1. REPORTS TO STOCKHOLDERS.**

(a) ------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AEDVX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $47 | 0.94% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082835

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AEHDX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $42 | 0.84% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082769

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (AEYDX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $37 | 0.74% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082751

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AEDQX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $60 | 1.19% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082819

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AEDHX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $97 | 1.94% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082793

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AEDWX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $72 | 1.44% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082785

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (AEDJX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $37 | 0.74% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082827

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AEXDX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $35 | 0.69% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082777

------

**SEMIANNUAL SHAREHOLDER REPORT**

Emerging Markets Debt Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **G Class (AEDGX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Emerging Markets Debt Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $1 | 0.01% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $581009416 |
| Management Fees (dollars paid during the reporting period) | $523902 |
| Portfolio Turnover Rate | 66% |
| Total Number of Portfolio Holdings | 153 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Sovereign Governments and Agencies | 79.4% |
| Corporate Bonds | 15.3% |
| U.S. Treasury Securities | 1.9% |
| Convertible Preferred Securities | 0.1% |
| Short-Term Investments | 7.4% |
| Other Assets and Liabilities | (4.1)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082660

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AGBVX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $43 | 0.85% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082876

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AGBHX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $38 | 0.75% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082744

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (AGBWX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $33 | 0.65% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082736

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AGBAX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $55 | 1.10% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082702

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AGBTX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $92 | 1.85% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082801

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AGBRX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $68 | 1.35% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082884

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (AGBNX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $33 | 0.65% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082868

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AGBDX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $30 | 0.60% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082850

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Bond Fund ![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

---

| | |
|:---|:---|
| **G Class (AGBGX)**  | **April 30, 2025** |

---

This semi-annual shareholder report contains important information about Global Bond Fund for the period of November 1, 2024 to April 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $1 | 0.02% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2890063939 |
| Management Fees (dollars paid during the reporting period) | $2512400 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 688 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 29.1% |
| U.S. Government Agency Mortgage-Backed Securities | 21.9% |
| Sovereign Governments and Agencies | 21.2% |
| Collateralized Mortgage Obligations | 9.3% |
| Convertible Preferred Securities | 8.7% |
| Preferred Securities | 2.6% |
| Collateralized Loan Obligations | 2.5% |
| Asset-Backed Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.2% |
| U.S. Treasury Securities | 1.0% |
| Municipal Securities | 0.4% |
| Exchange-Traded Funds | 0.3% |
| U.S. Government Agency Securities | 0.1% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 6.9% |
| Other Assets and Liabilities | (8.6)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000880268-20250430_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000880268-20250430_g1.jpg)

S-25082678

------

(b) Not applicable.

**ITEM 2. CODE OF ETHICS.**

Not applicable for semiannual report filings.

**ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.**

Not applicable for semiannual report filings.

**ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**

Not applicable for semiannual report filings.

**ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.**

Not applicable for semiannual report filings.

**ITEM 6. INVESTMENTS.**

(a) The schedule of investments is included as part of the financial statements and other information filed under Item 7 of this Form.

(b) Not applicable.

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

(a) ------

&nbsp;&nbsp;&nbsp;&nbsp;

![acihorizblkd48.jpg](ck0000880268-20250430_g3.jpg)

---

| |
|:---|
| Semiannual Financial Statements and Other Information |
| April 30, 2025 |
| Emerging Markets Debt Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AEDVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (AEHDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (AEYDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (AEDQX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (AEDHX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AEDWX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (AEDJX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AEXDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;G Class (AEDGX) |

---

------

**Table of Contents**

---

| | |
|:---|:---|
| Schedule of Investments | [2](#i6d2a8b3c6a45403fa7d666364230cbf3_31) |
| Statement of Assets and Liabilities | [18](#i6d2a8b3c6a45403fa7d666364230cbf3_37) |
| Statement of Operations | [19](#i6d2a8b3c6a45403fa7d666364230cbf3_40) |
| Statement of Changes in Net Assets | [20](#i6d2a8b3c6a45403fa7d666364230cbf3_43) |
| Notes to Financial Statements | [21](#i6d2a8b3c6a45403fa7d666364230cbf3_46) |
| Financial Highlights | [30](#i6d2a8b3c6a45403fa7d666364230cbf3_49) |

---

------

Schedule of Investments

**APRIL 30, 2025 (UNAUDITED)**

---

| | | | |
|:---|:---|:---|:---|
|<br>**SOVEREIGN GOVERNMENTS AND AGENCIES — 79.4%** | | **Principal<br>Amount/Shares** | **Value** |
| **Angola — 1.0%** | | | |
| Angola Government International Bonds, 8.25%, 5/9/28<sup>(1)</sup> |  | $2700000 | $2291558 |
| Angola Government International Bonds, 8.00%, 11/26/29<sup>(1)</sup> |  | 1800000 | 1440877 |
| Angola Government International Bonds, 9.375%, 5/8/48<sup>(1)</sup> |  | 1480000 | 1040839 |
| Angola Government International Bonds, 9.125%, 11/26/49<sup>(1)</sup> |  | 1200000 | 822453 |
|  |  |  | 5595727 |
| **Argentina — 2.4%** |  |  |  |
| Argentina Republic Government International Bonds, VRN, 4.125%, 7/9/35 |  | 12150000 | 8133013 |
| Provincia de Buenos Aires/Government Bonds, VRN, 6.625%, 9/1/37<sup>(1)</sup> |  | 8468100 | 5705383 |
|  |  |  | 13838396 |
| **Bahrain — 2.0%** |  |  |  |
| Bahrain Government International Bonds, 5.625%, 9/30/31<sup>(1)</sup> |  | 9300000 | 8782422 |
| Bahrain Government International Bonds, 7.50%, 2/12/36<sup>(1)</sup> |  | 1000000 | 1023078 |
| Bahrain Government International Bonds, 7.50%, 9/20/47 |  | 2000000 | 1935008 |
|  |  |  | 11740508 |
| **Brazil — 0.3%** |  |  |  |
| Brazil Government International Bonds, 6.625%, 3/15/35 |  | 1000000 | 998663 |
| Brazil Government International Bonds, 7.125%, 5/13/54 |  | 1000000 | 951019 |
|  |  |  | 1949682 |
| **Chile — 2.7%** |  |  |  |
| Bonos de la Tesoreria de la Republica en pesos, 4.70%, 9/1/30<sup>(1)</sup> | CLP | 6080000000 | 6256321 |
| Chile Government International Bonds, 4.34%, 3/7/42 |  | $10700000 | 9193440 |
|  |  |  | 15449761 |
| **Colombia — 4.1%** |  |  |  |
| Colombia Government International Bonds, 8.50%, 4/25/35 |  | 1630000 | 1658067 |
| Colombia Government International Bonds, 7.75%, 11/7/36 |  | 8905000 | 8495886 |
| Colombia Government International Bonds, 6.125%, 1/18/41 |  | 800000 | 629917 |
| Colombia TES, 6.00%, 4/28/28 | COP | 61000000000 | 12974348 |
|  |  |  | 23758218 |
| **Costa Rica — 0.7%** |  |  |  |
| Costa Rica Government International Bonds, 7.30%, 11/13/54<sup>(1)</sup> |  | $3850000 | 3929187 |
| **Czech Republic — 1.5%** |  |  |  |
| Czech Republic Government Bonds, 2.00%, 10/13/33 | CZK | 122000000 | 4816748 |
| Czech Republic Government Bonds, 1.50%, 4/24/40 | CZK | 118000000 | 3708715 |
|  |  |  | 8525463 |
| **Dominican Republic — 3.8%** |  |  |  |
| Dominican Republic International Bonds, 4.50%, 1/30/30 |  | $21830000 | 20370664 |
| Dominican Republic International Bonds, 5.875%, 1/30/60<sup>(1)</sup> |  | 2050000 | 1691865 |
|  |  |  | 22062529 |
| **Ecuador — 1.4%** |  |  |  |
| Ecuador Government International Bonds, VRN, 5.50%, 7/31/35 |  | 13236510 | 7987743 |
| **Egypt — 1.6%** |  |  |  |
| Egypt Government International Bonds, 7.30%, 9/30/33<sup>(1)</sup> |  | 2000000 | 1621532 |
| Egypt Government International Bonds, 8.50%, 1/31/47<sup>(1)</sup> |  | 10625000 | 7745732 |
|  |  |  | 9367264 |
| **El Salvador — 0.9%** |  |  |  |
| El Salvador Government International Bonds, 9.25%, 4/17/30<sup>(1)</sup> |  | 5200000 | 5370372 |
| **Ghana — 0.3%** |  |  |  |
| Ghana Government International Bonds, 0.00%, 7/3/26<sup>(1)(2)</sup> |  | 160800 | 152358 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal<br>Amount/Shares** | **Value** |
| Ghana Government International Bonds, 0.00%, 1/3/30<sup>(1)(2)</sup> |  | $374586 | $284779 |
| Ghana Government International Bonds, VRN, 5.00%, 7/3/29<sup>(1)</sup> |  | 1621400 | 1384290 |
|  |  |  | 1821427 |
| **Guatemala — 1.2%** |  |  |  |
| Guatemala Government Bonds, 4.375%, 6/5/27<sup>(1)</sup> |  | 1900000 | 1858356 |
| Guatemala Government Bonds, 7.05%, 10/4/32 |  | 2820000 | 2965554 |
| Guatemala Government Bonds, 6.125%, 6/1/50 |  | 2100000 | 1870313 |
|  |  |  | 6694223 |
| **Honduras — 0.4%** |  |  |  |
| Honduras Government International Bonds, 5.625%, 6/24/30<sup>(1)</sup> |  | 1600000 | 1463200 |
| Honduras Government International Bonds, 8.625%, 11/27/34<sup>(1)</sup> |  | 1000000 | 992750 |
|  |  |  | 2455950 |
| **Hungary — 2.6%** |  |  |  |
| Hungary Government Bonds, 3.00%, 8/21/30 | HUF | 3648500000 | 8736431 |
| Hungary Government International Bonds, 2.125%, 9/22/31<sup>(1)</sup> |  | $7900000 | 6430146 |
|  |  |  | 15166577 |
| **India — 2.2%** |  |  |  |
| India Government Bonds, 7.26%, 1/14/29 | INR | 684000000 | 8437427 |
| India Government Bonds, 7.54%, 5/23/36 | INR | 340000000 | 4368605 |
|  |  |  | 12806032 |
| **Indonesia — 3.0%** |  |  |  |
| Indonesia Government International Bonds, 5.45%, 9/20/52 |  | $2390000 | 2299331 |
| Indonesia Treasury Bonds, 6.50%, 2/15/31 | IDR | 152585000000 | 9104818 |
| Indonesia Treasury Bonds, 6.75%, 7/15/35 | IDR | 96426000000 | 5767072 |
|  |  |  | 17171221 |
| **Iraq — 0.1%** |  |  |  |
| Iraq International Bonds, 5.80%, 1/15/28 |  | $300000 | 291279 |
| **Ivory Coast — 0.5%** |  |  |  |
| Ivory Coast Government International Bonds, 8.08%, 4/1/36<sup>(1)</sup> |  | 1500000 | 1386894 |
| Ivory Coast Government International Bonds, 8.25%, 1/30/37<sup>(1)</sup> |  | 1900000 | 1751580 |
|  |  |  | 3138474 |
| **Jamaica — 0.3%** |  |  |  |
| Jamaica Government International Bonds, 6.75%, 4/28/28 |  | 400000 | 410512 |
| Jamaica Government International Bonds, 8.00%, 3/15/39 |  | 1000000 | 1137669 |
|  |  |  | 1548181 |
| **Jordan — 0.5%** |  |  |  |
| Jordan Government International Bonds, 5.85%, 7/7/30<sup>(1)</sup> |  | 1400000 | 1294104 |
| Jordan Government International Bonds, 7.375%, 10/10/47<sup>(1)</sup> |  | 1910000 | 1606095 |
|  |  |  | 2900199 |
| **Kazakhstan — 0.8%** |  |  |  |
| Kazakhstan Government International Bonds, 4.71%, 4/9/35<sup>(1)</sup> |  | 4800000 | 4643501 |
| **Kenya — 0.5%** |  |  |  |
| Republic of Kenya Government International Bonds, 9.75%, 2/16/31<sup>(1)</sup> |  | 1390000 | 1326578 |
| Republic of Kenya Government International Bonds, 9.50%, 3/5/36<sup>(1)</sup> |  | 2000000 | 1759452 |
|  |  |  | 3086030 |
| **Lebanon — 0.4%** |  |  |  |
| Lebanon Government International Bonds, 6.65%, 11/3/28<sup>(3)(4)</sup> |  | 13500000 | 2336168 |
| **Mexico — 6.1%** |  |  |  |
| Mexico Bonos, 7.75%, 11/23/34 | MXN | 80100000 | 3695082 |
| Mexico Bonos, 7.75%, 11/13/42 | MXN | 116700000 | 4898337 |
| Mexico Bonos, 8.50%, 3/1/29 | MXN | 407100000 | 20633071 |
| Mexico Government International Bonds, 6.00%, 5/7/36 |  | $5200000 | 4965834 |
| Mexico Government International Bonds, 7.375%, 5/13/55 |  | 1500000 | 1490820 |
|  |  |  | 35683144 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal<br>Amount/Shares** | **Value** |
| **Morocco — 0.2%** | | | |
| Morocco Government International Bonds, 3.00%, 12/15/32 |  | $1500000 | $1240324 |
| Morocco Government International Bonds, 3.00%, 12/15/32<sup>(1)</sup> |  | 100000 | 82689 |
|  |  |  | 1323013 |
| **Nigeria — 1.7%** |  |  |  |
| Nigeria Government International Bonds, 7.375%, 9/28/33<sup>(1)</sup> |  | 11900000 | 9733367 |
| Nigeria Government International Bonds, 7.625%, 11/28/47<sup>(1)</sup> |  | 250000 | 177938 |
|  |  |  | 9911305 |
| **Oman — 1.4%** |  |  |  |
| Oman Government International Bonds, 6.75%, 1/17/48<sup>(1)</sup> |  | 8100000 | 8209378 |
| **Pakistan — 1.3%** |  |  |  |
| Pakistan Government International Bonds, 6.875%, 12/5/27<sup>(1)</sup> |  | 8815000 | 7761508 |
| **Panama — 2.9%** |  |  |  |
| Panama Government International Bonds, 3.16%, 1/23/30 |  | 6030000 | 5293353 |
| Panama Government International Bonds, 6.875%, 1/31/36 |  | 7549000 | 7312489 |
| Panama Government International Bonds, 6.85%, 3/28/54 |  | 5070000 | 4378656 |
|  |  |  | 16984498 |
| **Paraguay — 1.0%** |  |  |  |
| Paraguay Government International Bonds, 4.95%, 4/28/31 |  | 2700000 | 2665598 |
| Paraguay Government International Bonds, 6.65%, 3/4/55<sup>(1)</sup> |  | 3050000 | 3024838 |
|  |  |  | 5690436 |
| **Peru — 2.7%** |  |  |  |
| Peru Government Bonds, 7.60%, 8/12/39<sup>(1)</sup> | PEN | 30600000 | 8694405 |
| Peru Government International Bonds, 8.75%, 11/21/33 |  | $2500000 | 3037187 |
| Peru Government International Bonds, 5.375%, 2/8/35 |  | 2700000 | 2665741 |
| Peru Government International Bonds, 5.625%, 11/18/50 |  | 1600000 | 1503250 |
|  |  |  | 15900583 |
| **Philippines — 2.0%** |  |  |  |
| Philippines Government International Bonds, 5.50%, 2/4/35 |  | 3200000 | 3302023 |
| Philippines Government International Bonds, 5.18%, 9/5/49 |  | 5500000 | 5098010 |
| ROP Sukuk Trust, 5.05%, 6/6/29 |  | 2900000 | 2950775 |
|  |  |  | 11350808 |
| **Poland — 4.8%** |  |  |  |
| Bank Gospodarstwa Krajowego, 5.375%, 5/22/33<sup>(1)</sup> |  | 4825000 | 4861636 |
| Republic of Poland Government Bonds, 2.50%, 7/25/27 | PLN | 46300000 | 11797675 |
| Republic of Poland Government Bonds, 1.75%, 4/25/32 | PLN | 40600000 | 8823098 |
| Republic of Poland Government International Bonds, 5.375%, 2/12/35 |  | $2300000 | 2327638 |
|  |  |  | 27810047 |
| **Qatar — 0.3%** |  |  |  |
| Qatar Government International Bonds, 5.10%, 4/23/48<sup>(1)</sup> |  | 1800000 | 1706967 |
| **Romania — 2.1%** |  |  |  |
| Romania Government International Bonds, 6.00%, 5/25/34<sup>(1)</sup> |  | 9060000 | 8375594 |
| Romania Government International Bonds, 7.50%, 2/10/37<sup>(1)</sup> |  | 1740000 | 1733040 |
| Romania Government International Bonds, 7.625%, 1/17/53<sup>(1)</sup> |  | 2426000 | 2344331 |
|  |  |  | 12452965 |
| **Saudi Arabia — 1.5%** |  |  |  |
| Saudi Government International Bonds, 5.625%, 1/13/35<sup>(1)</sup> |  | 1800000 | 1863536 |
| Saudi Government International Bonds, 5.75%, 1/16/54<sup>(1)</sup> |  | 7030000 | 6650240 |
|  |  |  | 8513776 |
| **Senegal — 0.4%** |  |  |  |
| Senegal Government International Bonds, 6.25%, 5/23/33<sup>(1)</sup> |  | 3400000 | 2371951 |
| **Serbia — 0.5%** |  |  |  |
| Serbia International Bonds, 6.50%, 9/26/33<sup>(1)</sup> |  | 2960000 | 3060300 |
| **South Africa — 1.3%** |  |  |  |
| Republic of South Africa Government Bonds, 8.50%, 1/31/37 | ZAR | 128522000 | 5744359 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal<br>Amount/Shares** | **Value** |
| Republic of South Africa Government International Bonds, 7.10%, 11/19/36<sup>(1)</sup> |  | $2000000 | $1907171 |
|  |  |  | 7651530 |
| **Sri Lanka — 1.5%** |  |  |  |
| Sri Lanka Government International Bonds, 4.00%, 4/15/28<sup>(1)</sup> |  | 1864090 | 1722047 |
| Sri Lanka Government International Bonds, VRN, 3.10%, 1/15/30<sup>(1)</sup> |  | 5574979 | 4583941 |
| Sri Lanka Government International Bonds, VRN, 3.35%, 3/15/33<sup>(1)</sup> |  | 3677739 | 2574417 |
| Sri Lanka Government International Bonds, VRN, 3.60%, 5/15/36<sup>(1)</sup> |  | 482 | 339 |
|  |  |  | 8880744 |
| **Thailand — 2.7%** |  |  |  |
| Thailand Government Bonds, 2.40%, 3/17/29 | THB | 509000000 | 15695204 |
| **Trinidad and Tobago — 0.3%** |  |  |  |
| Trinidad & Tobago Government International Bonds, 5.95%, 1/14/31<sup>(1)</sup> |  | $1825000 | 1750084 |
| **Turkey — 4.1%** |  |  |  |
| Turkiye Government Bonds, 30.00%, 9/12/29 | TRY | 193000000 | 4297297 |
| Turkiye Government International Bonds, 5.95%, 1/15/31 |  | $11800000 | 11047614 |
| Turkiye Government International Bonds, 7.625%, 5/15/34 |  | 8630000 | 8612714 |
|  |  |  | 23957625 |
| **Ukraine — 0.7%** |  |  |  |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/30 |  | 119078 | 59450 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/30<sup>(1)</sup> |  | 19414 | 9578 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/34 |  | 444976 | 171705 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/34<sup>(1)</sup> |  | 72550 | 27926 |
| Ukraine Government International Bonds, VRN, 1.75%, 2/1/34 |  | 326988 | 166600 |
| Ukraine Government International Bonds, VRN, 1.75%, 2/1/34<sup>(1)</sup> |  | 53313 | 26841 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/35<sup>(1)</sup> |  | 2761310 | 1400937 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/35 |  | 1876036 | 952065 |
| Ukraine Government International Bonds, VRN, 1.75%, 2/1/35 |  | 762972 | 380990 |
| Ukraine Government International Bonds, VRN, 1.75%, 2/1/35<sup>(1)</sup> |  | 124397 | 61578 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/36 |  | 313363 | 161358 |
| Ukraine Government International Bonds, VRN, 0.00%, 2/1/36<sup>(1)</sup> |  | 51091 | 25737 |
| Ukraine Government International Bonds, VRN, 1.75%, 2/1/36 |  | 1089960 | 529314 |
| Ukraine Government International Bonds, VRN, 1.75%, 2/1/36<sup>(1)</sup> |  | 177710 | 86300 |
|  |  |  | 4060379 |
| **United Arab Emirates — 1.6%** |  |  |  |
| Abu Dhabi Government International Bonds, 2.50%, 9/30/29<sup>(1)</sup> |  | 10000000 | 9369110 |
| **Uruguay — 2.1%** |  |  |  |
| Oriental Republic of Uruguay, 5.25%, 9/10/60 |  | 4700000 | 4260150 |
| Uruguay Government International Bonds, 5.75%, 10/28/34 |  | 7300000 | 7637625 |
|  |  |  | 11897775 |
| **Uzbekistan — 0.5%** |  |  |  |
| Republic of Uzbekistan International Bonds, 6.90%, 2/28/32<sup>(1)</sup> |  | 2900000 | 2904640 |
| **Venezuela — 0.1%** |  |  |  |
| Venezuela Government International Bonds, 11.95%, 8/5/31<sup>(3)(4)</sup> |  | 3700000 | 619750 |
| **Zambia — 0.4%** |  |  |  |
| Zambia Government International Bonds, VRN, 5.75%, 6/30/33<sup>(1)</sup> |  | 2398230 | 2086820 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $455,157,235) |  |  | **461238452** |
| **CORPORATE BONDS — 15.3%** |  |  |  |
| **Brazil — 2.4%** |  |  |  |
| 3R Lux SARL, 9.75%, 2/5/31<sup>(1)(5)</sup> |  | 6387000 | 6273215 |
| Braskem Netherlands Finance BV, 8.00%, 10/15/34<sup>(1)</sup> |  | 3000000 | 2679000 |
| NewCo Holding USD 20 SARL, 9.375%, 11/7/29<sup>(1)</sup> |  | 3144000 | 3107844 |
| Trident Energy Finance PLC, 12.50%, 11/30/29<sup>(1)</sup> |  | 1350000 | 1280043 |
| Yinson Boronia Production BV, 8.95%, 7/31/42<sup>(1)</sup> |  | 439093 | 451168 |
|  |  |  | 13791270 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Cayman Islands — 0.5%** | | |
| DP World Crescent Ltd., 5.50%, 5/8/35<sup>(1)(6)</sup> | $3000000 | $2969820 |
| **Chile — 1.1%** |  |  |
| AES Andes SA, 6.25%, 3/14/32<sup>(1)(5)</sup> | 765000 | 765807 |
| Corp. Nacional del Cobre de Chile, 3.00%, 9/30/29<sup>(1)</sup> | 3500000 | 3226181 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)(5)</sup> | 2708000 | 2653840 |
|  |  | 6645828 |
| **Colombia — 0.7%** |  |  |
| Geopark Ltd., 8.75%, 1/31/30<sup>(1)</sup> | 2340000 | 2025441 |
| Gran Tierra Energy, Inc., 9.50%, 10/15/29<sup>(1)</sup> | 2450000 | 1907639 |
|  |  | 3933080 |
| **Luxembourg — 0.1%** |  |  |
| Chile Electricity Lux MPC II SARL, 5.67%, 10/20/35<sup>(1)</sup> | 325000 | 325859 |
| **Malaysia — 1.3%** |  |  |
| Petronas Capital Ltd., 5.34%, 4/3/35<sup>(1)</sup> | 4000000 | 4065778 |
| Petronas Capital Ltd., 4.55%, 4/21/50<sup>(5)</sup> | 4175000 | 3524535 |
|  |  | 7590313 |
| **Mexico — 2.3%** |  |  |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41<sup>(1)</sup> | 2283793 | 2269519 |
| Grupo Aeromexico SAB de CV, 8.25%, 11/15/29<sup>(1)</sup> | 3000000 | 2812500 |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 5200000 | 4809681 |
| Petroleos Mexicanos, 6.50%, 6/2/41 | 5350000 | 3688080 |
|  |  | 13579780 |
| **Morocco — 0.7%** |  |  |
| OCP SA, 6.75%, 5/2/34<sup>(1)</sup> | 3800000 | 3845600 |
| **Paraguay — 0.5%** |  |  |
| Bioceanico Sovereign Certificate Ltd., 0.00%, 6/5/34<sup>(2)</sup> | 3986651 | 3087262 |
| **Qatar — 0.1%** |  |  |
| Ooredoo International Finance Ltd., 2.625%, 4/8/31<sup>(1)</sup> | 400000 | 360087 |
| **Saudi Arabia — 2.7%** |  |  |
| Gaci First Investment Co., 5.25%, 1/29/30 | 10000000 | 10234460 |
| Saudi Arabian Oil Co., 4.25%, 4/16/39 | 6180000 | 5329289 |
|  |  | 15563749 |
| **South Africa — 1.7%** |  |  |
| Eskom Holdings SOC Ltd., 6.35%, 8/10/28<sup>(1)</sup> | 10300000 | 10190717 |
| **United Arab Emirates — 1.0%** |  |  |
| Abu Dhabi Developmental Holding Co. PJSC, 4.50%, 5/6/30<sup>(1)(6)</sup> | 3000000 | 2985675 |
| Abu Dhabi Developmental Holding Co. PJSC, 5.00%, 5/6/35<sup>(1)(6)</sup> | 3000000 | 2985000 |
|  |  | 5970675 |
| **Venezuela — 0.2%** |  |  |
| Petroleos de Venezuela SA, 6.00%, 11/15/26<sup>(1)(3)(4)</sup> | 8600000 | 1019100 |
| **TOTAL CORPORATE BONDS**<br>(Cost $90,634,541) |  | **88873140** |
| **U.S. TREASURY SECURITIES — 1.9%** |  |  |
| U.S. Treasury Notes, 5.00%, 8/31/25<sup>(7)</sup> | 2200000 | 2204393 |
| U.S. Treasury Notes, 1.875%, 2/15/32<sup>(7)</sup> | 8881000 | 7799148 |
| U.S. Treasury Notes, 3.375%, 5/15/33<sup>(7)</sup> | 1105000 | 1055404 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $11,654,670) |  | **11058945** |
| **CONVERTIBLE PREFERRED SECURITIES — 0.1%** |  |  |
| **Banks — 0.1%** |  |  |
| Banco Mercantil del Norte SA, 8.375%<sup>(1)</sup><br>(Cost $400,000) | 400000 | 404916 |
| **SHORT-TERM INVESTMENTS — 7.3%** |  |  |
| **Money Market Funds — 0.8%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 33225 | 33225 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(8)</sup> | 4886258 | $4886258 |
|  |  | 4919483 |
| **Repurchase Agreements — 6.5%** |  |  |
| BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 8/15/29, valued at $4,286,639), in a joint trading account at 4.32%, dated 4/30/25, due 5/1/25 (Delivery value $4,201,805) |  | 4201301 |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 0.50%, 4/30/27, valued at $34,279,298), at 4.36%, dated 4/30/25, due 5/1/25 (Delivery value $33,611,070) |  | 33607000 |
|  |  | 37808301 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $42,727,784) |  | **42727784** |
| **TOTAL INVESTMENT SECURITIES — 104.0%**<br>(Cost $600,574,230) |  | **604303237** |
| **OTHER ASSETS AND LIABILITIES — (4.0)%** |  | **(23293821)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**581009416** |

---

**FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| BRL | 66883632 | USD | 11641243 | Bank of America N.A. | 6/18/25 | $19655 |
| BRL | 83669916 | USD | 14303464 | Bank of America N.A. | 6/18/25 | 284056 |
| BRL | 112417344 | USD | 19006101 | Bank of America N.A. | 6/18/25 | 593421 |
| BRL | 112156504 | USD | 18861286 | Bank of America N.A. | 6/18/25 | 692760 |
| BRL | 67246216 | USD | 11323266 | Bank of America N.A. | 6/18/25 | 400847 |
| BRL | 111690340 | USD | 18753331 | Citibank N.A. | 6/18/25 | 719440 |
| BRL | 34225719 | USD | 5781108 | Citibank N.A. | 6/18/25 | 186012 |
| BRL | 34634131 | USD | 5822702 | Citibank N.A. | 6/18/25 | 215622 |
| BRL | 61879666 | USD | 10603677 | Citibank N.A. | 6/18/25 | 184799 |
| BRL | 37967241 | USD | 6502877 | Citibank N.A. | 6/18/25 | 116562 |
| BRL | 50989575 | USD | 8709467 | Citibank N.A. | 6/18/25 | 180365 |
| BRL | 33575509 | USD | 5771507 | Citibank N.A. | 6/18/25 | 82251 |
| BRL | 31929180 | USD | 5555220 | Citibank N.A. | 6/18/25 | 11507 |
| BRL | 112925971 | USD | 18909333 | Citibank N.A. | 6/18/25 | 778866 |
| BRL | 50518272 | USD | 8474457 | Citibank N.A. | 6/18/25 | 333205 |
| BRL | 50272490 | USD | 8444999 | Citibank N.A. | 6/18/25 | 319811 |
| BRL | 112314369 | USD | 18420436 | Citibank N.A. | 6/18/25 | 1161133 |
| BRL | 50584218 | USD | 8446117 | Citibank N.A. | 6/18/25 | 373042 |
| BRL | 112296964 | USD | 18665050 | Citibank N.A. | 6/18/25 | 913484 |
| BRL | 32694016 | USD | 5704766 | Citibank N.A. | 6/18/25 | (4693) |
| BRL | 50584218 | USD | 8450294 | Goldman Sachs & Co. | 6/18/25 | 368866 |
| BRL | 43346098 | USD | 7297581 | Goldman Sachs & Co. | 6/18/25 | 259641 |
| BRL | 118873399 | USD | 19935167 | Goldman Sachs & Co. | 6/18/25 | 789943 |
| BRL | 32855971 | USD | 5707660 | Goldman Sachs & Co. | 6/18/25 | 20650 |
| BRL | 112131444 | USD | 18946883 | Morgan Stanley | 6/18/25 | 602793 |
| USD | 11622902 | BRL | 66883632 | Bank of America N.A. | 6/18/25 | (37996) |
| USD | 8657780 | BRL | 50343641 | Bank of America N.A. | 6/18/25 | (119436) |
| USD | 18399514 | BRL | 112296964 | Bank of America N.A. | 6/18/25 | (1179020) |
| USD | 18875237 | BRL | 112193466 | Bank of America N.A. | 6/18/25 | (685252) |
| USD | 18823455 | BRL | 112260372 | Bank of America N.A. | 6/18/25 | (748700) |
| USD | 17347064 | BRL | 100332416 | Bank of America N.A. | 6/18/25 | (145498) |
| USD | 7983229 | BRL | 46218076 | Bank of America N.A. | 6/18/25 | (74710) |
| USD | 5708427 | BRL | 32855971 | Bank of America N.A. | 6/18/25 | (19882) |
| USD | 5752675 | BRL | 33270020 | Citibank N.A. | 6/18/25 | (47822) |
| USD | 2883572 | BRL | 16635010 | Citibank N.A. | 6/18/25 | (16676) |
| USD | 5733242 | BRL | 33430362 | Citibank N.A. | 6/18/25 | (95210) |
| USD | 5865261 | BRL | 34199518 | Citibank N.A. | 6/18/25 | (97290) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 5757708 | BRL | 33630253 | Citibank N.A. | 6/18/25 | $(105595) |
| USD | 5758032 | BRL | 33571918 | Citibank N.A. | 6/18/25 | (95100) |
| USD | 24801180 | BRL | 144590878 | Citibank N.A. | 6/18/25 | (407671) |
| USD | 8457254 | BRL | 50292328 | Citibank N.A. | 6/18/25 | (311016) |
| USD | 18439997 | BRL | 109772749 | Citibank N.A. | 6/18/25 | (698450) |
| USD | 17295528 | BRL | 102546050 | Citibank N.A. | 6/18/25 | (582972) |
| USD | 7460294 | BRL | 44580631 | Citibank N.A. | 6/18/25 | (312163) |
| USD | 5723136 | BRL | 33005900 | Morgan Stanley | 6/18/25 | (31312) |
| USD | 11783130 | BRL | 68022963 | UBS AG | 6/18/25 | (76406) |
| USD | 27018381 | BRL | 163218042 | UBS AG | 6/18/25 | (1438042) |
| USD | 19913160 | BRL | 118881568 | UBS AG | 6/18/25 | (813373) |
| CHF | 9736197 | USD | 11727984 | UBS AG | 6/18/25 | 131349 |
| USD | 11484263 | CHF | 9736197 | UBS AG | 6/18/25 | (375071) |
| CLP | 5411002998 | USD | 5908499 | Bank of America N.A. | 6/18/25 | (195778) |
| CLP | 5434130877 | USD | 5910712 | Bank of America N.A. | 6/18/25 | (173574) |
| CLP | 5516259320 | USD | 5791348 | Bank of America N.A. | 6/18/25 | 32497 |
| CLP | 5507837838 | USD | 5760855 | Bank of America N.A. | 6/18/25 | 54100 |
| CLP | 5153679844 | USD | 5536947 | Citibank N.A. | 6/18/25 | (95899) |
| CLP | 11300057811 | USD | 11329515 | Citibank N.A. | 6/18/25 | 600634 |
| CLP | 5620833737 | USD | 5825604 | Citibank N.A. | 6/18/25 | 108647 |
| CLP | 5420168800 | USD | 5863882 | Goldman Sachs & Co. | 6/18/25 | (141484) |
| CLP | 8473468189 | USD | 8599644 | Goldman Sachs & Co. | 6/18/25 | 346305 |
| CLP | 4939344139 | USD | 5149467 | Goldman Sachs & Co. | 6/18/25 | 65295 |
| CLP | 5507837839 | USD | 5744467 | Goldman Sachs & Co. | 6/18/25 | 70488 |
| CLP | 4919758615 | USD | 5277168 | Goldman Sachs & Co. | 6/18/25 | (83083) |
| CLP | 5628568933 | USD | 5705513 | JPMorgan Chase Bank N.A. | 6/18/25 | 236904 |
| CLP | 4805048169 | USD | 5119269 | Morgan Stanley | 6/18/25 | (46291) |
| CLP | 5384734111 | USD | 5671305 | Morgan Stanley | 6/18/25 | 13682 |
| CLP | 5511878449 | USD | 5916031 | UBS AG | 6/18/25 | (96810) |
| CLP | 10977648785 | USD | 11155091 | UBS AG | 6/18/25 | 434671 |
| CLP | 5641459044 | USD | 5744082 | UBS AG | 6/18/25 | 211945 |
| CLP | 5628568933 | USD | 5682852 | UBS AG | 6/18/25 | 259566 |
| CLP | 11015309146 | USD | 11334270 | UBS AG | 6/18/25 | 295252 |
| USD | 5491356 | CLP | 5159348743 | Bank of America N.A. | 6/18/25 | 44322 |
| USD | 5905845 | CLP | 5434912497 | Bank of America N.A. | 6/18/25 | 167882 |
| USD | 5468693 | CLP | 5183993263 | Bank of America N.A. | 6/18/25 | (4359) |
| USD | 6295368 | CLP | 6083276644 | Bank of America N.A. | 6/18/25 | (127112) |
| USD | 5861831 | CLP | 5470436455 | Citibank N.A. | 6/18/25 | 86363 |
| USD | 5754792 | CLP | 5403402631 | Goldman Sachs & Co. | 6/18/25 | 50095 |
| USD | 5772962 | CLP | 5516094549 | Goldman Sachs & Co. | 6/18/25 | (50710) |
| USD | 5696706 | CLP | 5604907325 | Goldman Sachs & Co. | 6/18/25 | (220731) |
| USD | 5103625 | CLP | 4933258492 | Goldman Sachs & Co. | 6/18/25 | (104712) |
| USD | 5879703 | CLP | 5437184961 | JPMorgan Chase Bank N.A. | 6/18/25 | 139341 |
| USD | 6224048 | CLP | 6067886332 | JPMorgan Chase Bank N.A. | 6/18/25 | (182184) |
| USD | 5215195 | CLP | 4915592179 | JPMorgan Chase Bank N.A. | 6/18/25 | 25509 |
| USD | 19949918 | CLP | 19775355962 | Morgan Stanley | 6/18/25 | (928111) |
| USD | 5634936 | CLP | 5628568933 | Morgan Stanley | 6/18/25 | (307481) |
| USD | 5150397 | CLP | 4960090168 | Morgan Stanley | 6/18/25 | (86267) |
| USD | 11694345 | CLP | 11025545210 | Morgan Stanley | 6/18/25 | 54016 |
| USD | 2880200 | CLP | 2760729220 | Morgan Stanley | 6/18/25 | (34467) |
| USD | 5809383 | CLP | 5395321144 | UBS AG | 6/18/25 | 113218 |
| USD | 5910892 | CLP | 5480677318 | UBS AG | 6/18/25 | 124612 |
| USD | 5697819 | CLP | 5657771565 | UBS AG | 6/18/25 | (275430) |
| USD | 5803806 | CLP | 5691012167 | UBS AG | 6/18/25 | (204537) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 11567798 | CLP | 11062449495 | UBS AG | 6/18/25 | $(111493) |
| CNY | 9340657 | USD | 1306751 | Bank of America N.A. | 6/18/25 | (10013) |
| CNY | 115816616 | USD | 16215137 | JPMorgan Chase Bank N.A. | 6/18/25 | (136634) |
| USD | 3404911 | CNY | 24729872 | JPMorgan Chase Bank N.A. | 6/18/25 | (28269) |
| USD | 13903835 | CNY | 100427401 | JPMorgan Chase Bank N.A. | 6/18/25 | (38225) |
| COP | 23975930560 | USD | 5781359 | Bank of America N.A. | 6/18/25 | (143016) |
| COP | 24352624752 | USD | 5807314 | Bank of America N.A. | 6/18/25 | (80386) |
| COP | 46938615521 | USD | 10712568 | Bank of America N.A. | 6/18/25 | 325835 |
| COP | 24783060243 | USD | 5725726 | Bank of America N.A. | 6/18/25 | 102427 |
| COP | 24859437464 | USD | 5764748 | Bank of America N.A. | 6/18/25 | 81366 |
| COP | 23704059781 | USD | 5593218 | Citibank N.A. | 6/18/25 | (18811) |
| COP | 74466923316 | USD | 17350169 | Citibank N.A. | 6/18/25 | 161978 |
| COP | 46216574997 | USD | 10758574 | Citibank N.A. | 6/18/25 | 110029 |
| COP | 46590109601 | USD | 10538674 | Goldman Sachs & Co. | 6/18/25 | 417772 |
| COP | 24473339728 | USD | 5697848 | Goldman Sachs & Co. | 6/18/25 | 57469 |
| COP | 25702831356 | USD | 6090300 | JPMorgan Chase Bank N.A. | 6/18/25 | (45848) |
| COP | 24464235082 | USD | 5801722 | JPMorgan Chase Bank N.A. | 6/18/25 | (48546) |
| COP | 36743129878 | USD | 8792747 | JPMorgan Chase Bank N.A. | 6/18/25 | (151983) |
| COP | 49264936570 | USD | 11262925 | JPMorgan Chase Bank N.A. | 6/18/25 | 322551 |
| COP | 46600708646 | USD | 10469199 | JPMorgan Chase Bank N.A. | 6/18/25 | 489739 |
| COP | 45975127767 | USD | 10556352 | JPMorgan Chase Bank N.A. | 6/18/25 | 255471 |
| COP | 49828994227 | USD | 11412962 | UBS AG | 6/18/25 | 305162 |
| USD | 5744012 | COP | 24043630906 | Bank of America N.A. | 6/18/25 | 89749 |
| USD | 5692757 | COP | 24087992179 | Bank of America N.A. | 6/18/25 | 28062 |
| USD | 6466811 | COP | 28273221449 | Bank of America N.A. | 6/18/25 | (182111) |
| USD | 11474843 | COP | 50213912601 | Bank of America N.A. | 6/18/25 | (333801) |
| USD | 5835857 | COP | 24825095020 | Bank of America N.A. | 6/18/25 | (2180) |
| USD | 4388710 | COP | 18594042861 | Bank of America N.A. | 6/18/25 | 16009 |
| USD | 11491617 | COP | 48093796091 | Citibank N.A. | 6/18/25 | 181554 |
| USD | 10536452 | COP | 46130270437 | Citibank N.A. | 6/18/25 | (311856) |
| USD | 11439766 | COP | 48189443293 | Goldman Sachs & Co. | 6/18/25 | 107210 |
| USD | 5824443 | COP | 24314253548 | JPMorgan Chase Bank N.A. | 6/18/25 | 106538 |
| USD | 11214331 | COP | 49480880231 | JPMorgan Chase Bank N.A. | 6/18/25 | (421928) |
| USD | 10554615 | COP | 46845077359 | JPMorgan Chase Bank N.A. | 6/18/25 | (461791) |
| USD | 10462587 | COP | 46590109601 | JPMorgan Chase Bank N.A. | 6/18/25 | (493859) |
| USD | 10587372 | COP | 46106735170 | JPMorgan Chase Bank N.A. | 6/18/25 | (255400) |
| USD | 10749267 | COP | 46326654828 | JPMorgan Chase Bank N.A. | 6/18/25 | (145223) |
| USD | 11195315 | COP | 48744960369 | JPMorgan Chase Bank N.A. | 6/18/25 | (267881) |
| USD | 11562295 | COP | 48191645416 | Morgan Stanley | 6/18/25 | 229221 |
| CZK | 121910307 | USD | 5288833 | Bank of America N.A. | 6/18/25 | 251427 |
| CZK | 133693521 | USD | 5832906 | Citibank N.A. | 6/18/25 | 242848 |
| CZK | 133126645 | USD | 5934099 | Citibank N.A. | 6/18/25 | 115892 |
| CZK | 132235634 | USD | 5838416 | Citibank N.A. | 6/18/25 | 171083 |
| CZK | 66579619 | USD | 2949736 | Citibank N.A. | 6/18/25 | 76000 |
| CZK | 266941090 | USD | 11679390 | Citibank N.A. | 6/18/25 | 451850 |
| CZK | 262689174 | USD | 11413482 | Citibank N.A. | 6/18/25 | 524527 |
| CZK | 124845652 | USD | 5649559 | Citibank N.A. | 6/18/25 | 24099 |
| CZK | 335212250 | USD | 14705335 | Goldman Sachs & Co. | 6/18/25 | 528514 |
| CZK | 261752175 | USD | 11469829 | Goldman Sachs & Co. | 6/18/25 | 425598 |
| CZK | 126476692 | USD | 5811389 | Goldman Sachs & Co. | 6/18/25 | (63608) |
| CZK | 126573366 | USD | 5822388 | Goldman Sachs & Co. | 6/18/25 | (70213) |
| CZK | 257665349 | USD | 11742311 | Goldman Sachs & Co. | 6/18/25 | (32611) |
| CZK | 169062679 | USD | 7402164 | Morgan Stanley | 6/18/25 | 280954 |
| CZK | 134334970 | USD | 5857592 | Morgan Stanley | 6/18/25 | 247312 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| CZK | 124991421 | USD | 5544760 | Morgan Stanley | 6/18/25 | $135523 |
| CZK | 136068083 | USD | 5964725 | UBS AG | 6/18/25 | 218941 |
| CZK | 138507708 | USD | 6014512 | UBS AG | 6/18/25 | 280024 |
| CZK | 133115816 | USD | 5931269 | UBS AG | 6/18/25 | 118231 |
| CZK | 125897733 | USD | 5702853 | UBS AG | 6/18/25 | 18617 |
| USD | 11848342 | CZK | 271626791 | Bank of America N.A. | 6/18/25 | (495842) |
| USD | 5897228 | CZK | 135100433 | Bank of America N.A. | 6/18/25 | (242462) |
| USD | 5867312 | CZK | 135181291 | Bank of America N.A. | 6/18/25 | (276053) |
| USD | 5905168 | CZK | 135660848 | Citibank N.A. | 6/18/25 | (259991) |
| USD | 11742877 | CZK | 266253290 | Citibank N.A. | 6/18/25 | (357106) |
| USD | 11491919 | CZK | 264793004 | Citibank N.A. | 6/18/25 | (541700) |
| USD | 5666731 | CZK | 125056829 | Citibank N.A. | 6/18/25 | (16524) |
| USD | 1138659 | CZK | 25039692 | Citibank N.A. | 6/18/25 | 721 |
| USD | 5844908 | CZK | 134657328 | Goldman Sachs & Co. | 6/18/25 | (274646) |
| USD | 14364482 | CZK | 331316749 | Goldman Sachs & Co. | 6/18/25 | (692334) |
| USD | 14502325 | CZK | 334292306 | Goldman Sachs & Co. | 6/18/25 | (689716) |
| USD | 11427930 | CZK | 261752175 | Goldman Sachs & Co. | 6/18/25 | (467497) |
| USD | 5697030 | CZK | 125719805 | Goldman Sachs & Co. | 6/18/25 | (16354) |
| USD | 6459302 | CZK | 143542305 | Goldman Sachs & Co. | 6/18/25 | (64033) |
| USD | 5898221 | CZK | 135457775 | Morgan Stanley | 6/18/25 | (257709) |
| USD | 5754239 | CZK | 127155847 | Morgan Stanley | 6/18/25 | (24407) |
| USD | 5912438 | CZK | 133164545 | UBS AG | 6/18/25 | (139275) |
| USD | 8529007 | CZK | 188871454 | UBS AG | 6/18/25 | (54328) |
| USD | 10423983 | CZK | 227138493 | UBS AG | 6/18/25 | 101588 |
| HUF | 2130484370 | USD | 5867322 | Bank of America N.A. | 6/18/25 | 87129 |
| HUF | 4213461938 | USD | 11745618 | Bank of America N.A. | 6/18/25 | 30508 |
| HUF | 2334846471 | USD | 6249214 | Citibank N.A. | 6/18/25 | 276404 |
| HUF | 4269032793 | USD | 11480888 | Citibank N.A. | 6/18/25 | 450551 |
| HUF | 4266220907 | USD | 11429102 | Citibank N.A. | 6/18/25 | 494478 |
| HUF | 2469466756 | USD | 6642317 | Citibank N.A. | 6/18/25 | 259549 |
| HUF | 4231388321 | USD | 11475521 | Citibank N.A. | 6/18/25 | 350706 |
| HUF | 2058320202 | USD | 5704975 | Citibank N.A. | 6/18/25 | 47785 |
| HUF | 2445977439 | USD | 6904119 | Citibank N.A. | 6/18/25 | (67903) |
| HUF | 3757626742 | USD | 10593348 | Citibank N.A. | 6/18/25 | (91228) |
| HUF | 2051620726 | USD | 5528766 | Goldman Sachs & Co. | 6/18/25 | 205270 |
| HUF | 2130187975 | USD | 5868230 | Goldman Sachs & Co. | 6/18/25 | 85392 |
| HUF | 1449607797 | USD | 3912004 | Morgan Stanley | 6/18/25 | 139478 |
| HUF | 2184498483 | USD | 5981304 | Morgan Stanley | 6/18/25 | 124109 |
| HUF | 2031519384 | USD | 5534341 | Morgan Stanley | 6/18/25 | 143514 |
| HUF | 2144326186 | USD | 5832638 | UBS AG | 6/18/25 | 160499 |
| HUF | 2157269721 | USD | 5861851 | UBS AG | 6/18/25 | 167461 |
| HUF | 2450747051 | USD | 6792747 | UBS AG | 6/18/25 | 56800 |
| USD | 8826733 | HUF | 3263154846 | Citibank N.A. | 6/18/25 | (293397) |
| USD | 5831365 | HUF | 2142399673 | Citibank N.A. | 6/18/25 | (156388) |
| USD | 11600189 | HUF | 4260375949 | Citibank N.A. | 6/18/25 | (307055) |
| USD | 6634264 | HUF | 2476012068 | Citibank N.A. | 6/18/25 | (285896) |
| USD | 6596940 | HUF | 2476573586 | Citibank N.A. | 6/18/25 | (324789) |
| USD | 5839587 | HUF | 2146045552 | Goldman Sachs & Co. | 6/18/25 | (158355) |
| USD | 5816589 | HUF | 2158487280 | Goldman Sachs & Co. | 6/18/25 | (216126) |
| USD | 11382236 | HUF | 4231388321 | Goldman Sachs & Co. | 6/18/25 | (443991) |
| USD | 11342449 | HUF | 4108652089 | Goldman Sachs & Co. | 6/18/25 | (140745) |
| USD | 6768483 | HUF | 2452263042 | Goldman Sachs & Co. | 6/18/25 | (85301) |
| USD | 8800681 | HUF | 3161598313 | Goldman Sachs & Co. | 6/18/25 | (35610) |
| USD | 5850221 | HUF | 2167037838 | Morgan Stanley | 6/18/25 | (206392) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 5847558 | HUF | 2130564285 | Morgan Stanley | 6/18/25 | $(107116) |
| USD | 6765227 | HUF | 2450746764 | Morgan Stanley | 6/18/25 | (84319) |
| USD | 5799684 | HUF | 2147620489 | UBS AG | 6/18/25 | (202660) |
| USD | 5850769 | HUF | 2160185357 | UBS AG | 6/18/25 | (186692) |
| USD | 4784228 | HUF | 1792974256 | UBS AG | 6/18/25 | (226922) |
| USD | 6895465 | HUF | 2463089149 | UBS AG | 6/18/25 | 11424 |
| USD | 10473767 | HUF | 3757422155 | UBS AG | 6/18/25 | (27781) |
| IDR | 283806270603 | USD | 16918507 | Bank of America N.A. | 6/18/25 | 199831 |
| IDR | 185678862273 | USD | 11002996 | Bank of America N.A. | 6/18/25 | 196593 |
| IDR | 196106606863 | USD | 11659964 | Bank of America N.A. | 6/18/25 | 168595 |
| IDR | 97932690486 | USD | 5886510 | Bank of America N.A. | 6/18/25 | 20495 |
| IDR | 96994697921 | USD | 5831672 | Citibank N.A. | 6/18/25 | 18756 |
| IDR | 137201506355 | USD | 8167486 | Citibank N.A. | 6/18/25 | 108096 |
| IDR | 94918485151 | USD | 5657554 | JPMorgan Chase Bank N.A. | 6/18/25 | 67643 |
| IDR | 239508661266 | USD | 14222858 | JPMorgan Chase Bank N.A. | 6/18/25 | 223582 |
| IDR | 188041333803 | USD | 11159061 | JPMorgan Chase Bank N.A. | 6/18/25 | 183025 |
| IDR | 194680924031 | USD | 11782063 | Morgan Stanley | 6/18/25 | (39497) |
| IDR | 284755455454 | USD | 16975294 | Morgan Stanley | 6/18/25 | 200297 |
| IDR | 95436550126 | USD | 5657175 | Morgan Stanley | 6/18/25 | 99269 |
| IDR | 96227191945 | USD | 5792781 | UBS AG | 6/18/25 | 11353 |
| IDR | 476305282924 | USD | 28059519 | UBS AG | 6/18/25 | 669779 |
| IDR | 185272832764 | USD | 11073632 | UBS AG | 6/18/25 | 101466 |
| USD | 13746691 | IDR | 236089789828 | Bank of America N.A. | 6/18/25 | (493534) |
| USD | 5935735 | IDR | 99041307777 | Citibank N.A. | 6/18/25 | (38138) |
| USD | 8347608 | IDR | 140923479458 | Citibank N.A. | 6/18/25 | (152472) |
| USD | 11046675 | IDR | 186240313657 | Citibank N.A. | 6/18/25 | (186779) |
| USD | 11315115 | IDR | 191553578387 | Goldman Sachs & Co. | 6/18/25 | (238819) |
| USD | 8530142 | IDR | 144359858902 | JPMorgan Chase Bank N.A. | 6/18/25 | (177209) |
| USD | 5702768 | IDR | 96465744641 | JPMorgan Chase Bank N.A. | 6/18/25 | (115755) |
| USD | 5837847 | IDR | 97146159506 | UBS AG | 6/18/25 | (21716) |
| USD | 5456582 | IDR | 92787696859 | UBS AG | 6/18/25 | (140093) |
| USD | 14224896 | IDR | 242702751639 | UBS AG | 6/18/25 | (414202) |
| USD | 8345832 | IDR | 140924044122 | UBS AG | 6/18/25 | (154282) |
| USD | 6025006 | IDR | 101796871074 | UBS AG | 6/18/25 | (115075) |
| USD | 11251806 | IDR | 189893473685 | UBS AG | 6/18/25 | (201995) |
| USD | 14177448 | IDR | 239394007984 | UBS AG | 6/18/25 | (262077) |
| USD | 2562709 | IDR | 43307957671 | UBS AG | 6/18/25 | (49497) |
| USD | 16800899 | IDR | 283508455379 | UBS AG | 6/18/25 | (299476) |
| ILS | 33028518 | USD | 8951502 | Bank of America N.A. | 6/18/25 | 135029 |
| ILS | 42143020 | USD | 11448538 | Bank of America N.A. | 6/18/25 | 145499 |
| ILS | 42485202 | USD | 11600419 | Bank of America N.A. | 6/18/25 | 87756 |
| ILS | 53463991 | USD | 14700053 | UBS AG | 6/18/25 | 8515 |
| ILS | 11146374 | USD | 3051503 | UBS AG | 6/18/25 | 14995 |
| ILS | 21038349 | USD | 5831856 | UBS AG | 6/18/25 | (43960) |
| USD | 8629693 | ILS | 32110554 | Bank of America N.A. | 6/18/25 | (204295) |
| USD | 5774926 | ILS | 21038349 | Bank of America N.A. | 6/18/25 | (12970) |
| USD | 9089272 | ILS | 33413446 | Goldman Sachs & Co. | 6/18/25 | (103157) |
| USD | 8662595 | ILS | 32114883 | UBS AG | 6/18/25 | (172584) |
| USD | 11426883 | ILS | 42143020 | UBS AG | 6/18/25 | (167154) |
| USD | 11725759 | ILS | 42485202 | UBS AG | 6/18/25 | 37583 |
| INR | 510359760 | USD | 5872448 | Citibank N.A. | 6/18/25 | 139974 |
| INR | 505941066 | USD | 5822422 | JPMorgan Chase Bank N.A. | 6/18/25 | 137945 |
| INR | 1504155501 | USD | 17456708 | JPMorgan Chase Bank N.A. | 6/18/25 | 263376 |
| INR | 756586153 | USD | 8804905 | UBS AG | 6/18/25 | 108249 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| INR | 1146448714 | USD | 13409259 | UBS AG | 6/18/25 | $96770 |
| INR | 1028891767 | USD | 12035511 | UBS AG | 6/18/25 | 85609 |
| USD | 15555055 | INR | 1365461615 | Bank of America N.A. | 6/18/25 | (531111) |
| USD | 13360349 | INR | 1152692193 | Bank of America N.A. | 6/18/25 | (219233) |
| USD | 11932941 | INR | 1023647080 | Bank of America N.A. | 6/18/25 | (126392) |
| USD | 17384830 | INR | 1493120474 | Citibank N.A. | 6/18/25 | (205253) |
| USD | 8555082 | INR | 733488774 | JPMorgan Chase Bank N.A. | 6/18/25 | (85968) |
| USD | 9131355 | INR | 782388235 | JPMorgan Chase Bank N.A. | 6/18/25 | (85767) |
| JPY | 1671282238 | USD | 11604563 | Goldman Sachs & Co. | 6/18/25 | 146260 |
| USD | 11455284 | JPY | 1671282238 | JPMorgan Chase Bank N.A. | 6/18/25 | (295539) |
| KRW | 8530218137 | USD | 5900611 | Bank of America N.A. | 6/18/25 | 103572 |
| KRW | 12198936348 | USD | 8619268 | Bank of America N.A. | 6/18/25 | (32776) |
| KRW | 8537190647 | USD | 5849073 | Citibank N.A. | 6/18/25 | 160017 |
| KRW | 16709419709 | USD | 11507865 | Goldman Sachs & Co. | 6/18/25 | 253431 |
| KRW | 12371004836 | USD | 8654623 | JPMorgan Chase Bank N.A. | 6/18/25 | 52983 |
| KRW | 16308408100 | USD | 11506527 | UBS AG | 6/18/25 | (27492) |
| KRW | 8345647269 | USD | 5829321 | UBS AG | 6/18/25 | 44948 |
| KRW | 8345647269 | USD | 5801521 | UBS AG | 6/18/25 | 72748 |
| USD | 5914271 | KRW | 8537190647 | Citibank N.A. | 6/18/25 | (94820) |
| USD | 8695136 | KRW | 12371004836 | Citibank N.A. | 6/18/25 | (12470) |
| USD | 5808006 | KRW | 8530218137 | Morgan Stanley | 6/18/25 | (196177) |
| USD | 11554707 | KRW | 16709419709 | UBS AG | 6/18/25 | (206589) |
| USD | 8613306 | KRW | 12198936348 | UBS AG | 6/18/25 | 26814 |
| USD | 11474673 | KRW | 16308408100 | UBS AG | 6/18/25 | (4361) |
| MXN | 58998139 | USD | 2921475 | Bank of America N.A. | 6/18/25 | 69288 |
| MXN | 279590428 | USD | 13386884 | Bank of America N.A. | 6/18/25 | 786249 |
| MXN | 586696413 | USD | 29095972 | Bank of America N.A. | 6/18/25 | 645126 |
| MXN | 301254864 | USD | 15031709 | Bank of America N.A. | 6/18/25 | 239648 |
| MXN | 172333395 | USD | 8746217 | Bank of America N.A. | 6/18/25 | (10210) |
| MXN | 101076437 | USD | 4960676 | Citibank N.A. | 6/18/25 | 163140 |
| MXN | 175429341 | USD | 8465929 | Citibank N.A. | 6/18/25 | 427020 |
| MXN | 190143093 | USD | 9652555 | Citibank N.A. | 6/18/25 | (13730) |
| MXN | 56623645 | USD | 2869256 | Citibank N.A. | 6/18/25 | 1137 |
| MXN | 295429346 | USD | 14520733 | Goldman Sachs & Co. | 6/18/25 | 455314 |
| MXN | 287576930 | USD | 14235884 | Goldman Sachs & Co. | 6/18/25 | 342105 |
| MXN | 302263474 | USD | 15015136 | Goldman Sachs & Co. | 6/18/25 | 307350 |
| MXN | 166537183 | USD | 8410305 | Goldman Sachs & Co. | 6/18/25 | 31878 |
| MXN | 168844598 | USD | 8531132 | Goldman Sachs & Co. | 6/18/25 | 28020 |
| MXN | 168844597 | USD | 8540328 | Goldman Sachs & Co. | 6/18/25 | 18824 |
| MXN | 231550946 | USD | 11260858 | JPMorgan Chase Bank N.A. | 6/18/25 | 477035 |
| MXN | 118887680 | USD | 5751787 | JPMorgan Chase Bank N.A. | 6/18/25 | 274925 |
| MXN | 590612102 | USD | 28041915 | JPMorgan Chase Bank N.A. | 6/18/25 | 1897679 |
| MXN | 590612116 | USD | 28551598 | JPMorgan Chase Bank N.A. | 6/18/25 | 1387996 |
| MXN | 285785818 | USD | 14275169 | JPMorgan Chase Bank N.A. | 6/18/25 | 212024 |
| MXN | 170388941 | USD | 8687991 | JPMorgan Chase Bank N.A. | 6/18/25 | (50553) |
| MXN | 56064114 | USD | 2773892 | Morgan Stanley | 6/18/25 | 68137 |
| MXN | 118394645 | USD | 5870488 | Morgan Stanley | 6/18/25 | 131231 |
| MXN | 175429341 | USD | 8461963 | Morgan Stanley | 6/18/25 | 430986 |
| MXN | 225476269 | USD | 11410830 | Morgan Stanley | 6/18/25 | 19122 |
| MXN | 147452883 | USD | 7478950 | Morgan Stanley | 6/18/25 | (4197) |
| MXN | 114134605 | USD | 5800282 | Morgan Stanley | 6/18/25 | (14516) |
| MXN | 239517651 | USD | 11489536 | UBS AG | 6/18/25 | 652209 |
| USD | 17239140 | MXN | 354374234 | Bank of America N.A. | 6/18/25 | (724970) |
| USD | 16549621 | MXN | 350016483 | Bank of America N.A. | 6/18/25 | (1193584) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 29041877 | MXN | 587478833 | Bank of America N.A. | 6/18/25 | $(738884) |
| USD | 17266302 | MXN | 342649714 | Bank of America N.A. | 6/18/25 | (103463) |
| USD | 16871441 | MXN | 333898227 | Bank of America N.A. | 6/18/25 | (54690) |
| USD | 8614523 | MXN | 176357316 | Citibank N.A. | 6/18/25 | (325467) |
| USD | 11365513 | MXN | 237038885 | Citibank N.A. | 6/18/25 | (650576) |
| USD | 5687302 | MXN | 114332428 | Citibank N.A. | 6/18/25 | (108493) |
| USD | 5788766 | MXN | 116360400 | Citibank N.A. | 6/18/25 | (109832) |
| USD | 3696099 | MXN | 74316079 | Citibank N.A. | 6/18/25 | (71167) |
| USD | 5741167 | MXN | 113250354 | Citibank N.A. | 6/18/25 | 225 |
| USD | 8685454 | MXN | 171553931 | Citibank N.A. | 6/18/25 | (11040) |
| USD | 5957292 | MXN | 117620263 | Citibank N.A. | 6/18/25 | (5171) |
| USD | 11090085 | MXN | 228011157 | Goldman Sachs & Co. | 6/18/25 | (468367) |
| USD | 13951239 | MXN | 288705492 | Goldman Sachs & Co. | 6/18/25 | (683959) |
| USD | 28040781 | MXN | 590612116 | Goldman Sachs & Co. | 6/18/25 | (1898814) |
| USD | 28375845 | MXN | 584750904 | Goldman Sachs & Co. | 6/18/25 | (1266631) |
| USD | 17090758 | MXN | 351138944 | Goldman Sachs & Co. | 6/18/25 | (709347) |
| USD | 1636741 | MXN | 33741254 | JPMorgan Chase Bank N.A. | 6/18/25 | (73687) |
| USD | 14720707 | MXN | 297215680 | JPMorgan Chase Bank N.A. | 6/18/25 | (345894) |
| USD | 14268445 | MXN | 288025413 | JPMorgan Chase Bank N.A. | 6/18/25 | (332278) |
| USD | 12375696 | MXN | 245602206 | JPMorgan Chase Bank N.A. | 6/18/25 | (74490) |
| USD | 3414834 | MXN | 69318591 | Morgan Stanley | 6/18/25 | (99097) |
| USD | 11347809 | MXN | 236515102 | Morgan Stanley | 6/18/25 | (641729) |
| USD | 8808822 | MXN | 180267662 | UBS AG | 6/18/25 | (329393) |
| USD | 8640156 | MXN | 170169624 | UBS AG | 6/18/25 | 13835 |
| MYR | 73037926 | USD | 16624250 | Morgan Stanley | 6/18/25 | 331814 |
| USD | 16661511 | MYR | 72977420 | Morgan Stanley | 6/18/25 | (280505) |
| PEN | 20408901 | USD | 5453717 | Citibank N.A. | 6/18/25 | 105199 |
| PEN | 19743449 | USD | 5300824 | Citibank N.A. | 6/18/25 | 76838 |
| PEN | 9797992 | USD | 2659679 | Citibank N.A. | 6/18/25 | 9069 |
| PEN | 19712864 | USD | 5256769 | Goldman Sachs & Co. | 6/18/25 | 112563 |
| USD | 5777992 | PEN | 21215053 | Bank of America N.A. | 6/18/25 | (502) |
| USD | 5641845 | PEN | 20935759 | Bank of America N.A. | 6/18/25 | (60575) |
| USD | 5357285 | PEN | 19946207 | Goldman Sachs & Co. | 6/18/25 | (75605) |
| USD | 5284954 | PEN | 19810599 | JPMorgan Chase Bank N.A. | 6/18/25 | (110998) |
| USD | 5337563 | PEN | 19799642 | UBS AG | 6/18/25 | (55405) |
| PLN | 42969311 | USD | 11348529 | Bank of America N.A. | 6/18/25 | 5824 |
| PLN | 17884066 | USD | 4620671 | Citibank N.A. | 6/18/25 | 105074 |
| PLN | 22260142 | USD | 5866248 | Citibank N.A. | 6/18/25 | 15845 |
| PLN | 44909586 | USD | 11413955 | Citibank N.A. | 6/18/25 | 453103 |
| PLN | 33525121 | USD | 8807999 | Goldman Sachs & Co. | 6/18/25 | 50790 |
| PLN | 79192859 | USD | 20461456 | Goldman Sachs & Co. | 6/18/25 | 464727 |
| PLN | 44366957 | USD | 11454574 | Goldman Sachs & Co. | 6/18/25 | 269098 |
| PLN | 35832911 | USD | 9620897 | Goldman Sachs & Co. | 6/18/25 | (152289) |
| PLN | 23374447 | USD | 6023091 | JPMorgan Chase Bank N.A. | 6/18/25 | 153450 |
| PLN | 21881076 | USD | 5663778 | Morgan Stanley | 6/18/25 | 118150 |
| PLN | 22391191 | USD | 5809157 | Morgan Stanley | 6/18/25 | 107566 |
| PLN | 17305640 | USD | 4432860 | Morgan Stanley | 6/18/25 | 140040 |
| PLN | 22609391 | USD | 5883978 | UBS AG | 6/18/25 | 90402 |
| PLN | 22585429 | USD | 5894895 | UBS AG | 6/18/25 | 73154 |
| PLN | 44659775 | USD | 11438428 | UBS AG | 6/18/25 | 362619 |
| PLN | 34797184 | USD | 8842071 | UBS AG | 6/18/25 | 352852 |
| PLN | 21015410 | USD | 5465498 | UBS AG | 6/18/25 | 87683 |
| USD | 8835299 | PLN | 34158389 | Bank of America N.A. | 6/18/25 | (190827) |
| USD | 5864320 | PLN | 22832871 | Bank of America N.A. | 6/18/25 | (169113) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 11313064 | PLN | 42972222 | Bank of America N.A. | 6/18/25 | $(42058) |
| USD | 5854221 | PLN | 22558603 | Citibank N.A. | 6/18/25 | (106739) |
| USD | 5767925 | PLN | 22387319 | Citibank N.A. | 6/18/25 | (147774) |
| USD | 11375216 | PLN | 44754843 | Citibank N.A. | 6/18/25 | (450952) |
| USD | 8792667 | PLN | 34685004 | Citibank N.A. | 6/18/25 | (372614) |
| USD | 20316287 | PLN | 79666255 | Citibank N.A. | 6/18/25 | (734988) |
| USD | 5850136 | PLN | 22686133 | Goldman Sachs & Co. | 6/18/25 | (144523) |
| USD | 8557040 | PLN | 33160667 | Goldman Sachs & Co. | 6/18/25 | (205445) |
| USD | 11425542 | PLN | 44366957 | Goldman Sachs & Co. | 6/18/25 | (298130) |
| USD | 5829763 | PLN | 22262838 | Morgan Stanley | 6/18/25 | (53043) |
| USD | 5868362 | PLN | 22585429 | UBS AG | 6/18/25 | (99687) |
| USD | 5854022 | PLN | 22662636 | UBS AG | 6/18/25 | (134428) |
| USD | 5800134 | PLN | 22441836 | UBS AG | 6/18/25 | (129972) |
| USD | 5632812 | PLN | 21296671 | UBS AG | 6/18/25 | 5309 |
| USD | 9494131 | PLN | 36096667 | UBS AG | 6/18/25 | (44172) |
| USD | 11395973 | PLN | 43216981 | UBS AG | 6/18/25 | (23826) |
| USD | 9621058 | PLN | 35928243 | UBS AG | 6/18/25 | 127260 |
| RON | 44309908 | USD | 10264186 | Bank of America N.A. | 6/18/25 | (200860) |
| RON | 6898345 | USD | 1506571 | Goldman Sachs & Co. | 6/18/25 | 60128 |
| RON | 25425760 | USD | 5759722 | JPMorgan Chase Bank N.A. | 6/18/25 | 14781 |
| RON | 44755095 | USD | 9834476 | UBS AG | 6/18/25 | 329958 |
| RON | 24874757 | USD | 5544348 | UBS AG | 6/18/25 | 105016 |
| RON | 24966444 | USD | 5673231 | UBS AG | 6/18/25 | (3044) |
| RON | 39366315 | USD | 8969221 | UBS AG | 6/18/25 | (28646) |
| USD | 10235947 | RON | 44447163 | Citibank N.A. | 6/18/25 | 141448 |
| USD | 5824312 | RON | 25593882 | Goldman Sachs & Co. | 6/18/25 | 11626 |
| USD | 5653124 | RON | 24968011 | Goldman Sachs & Co. | 6/18/25 | (17419) |
| USD | 4397658 | RON | 19475049 | Goldman Sachs & Co. | 6/18/25 | (25366) |
| USD | 5645798 | RON | 24807820 | JPMorgan Chase Bank N.A. | 6/18/25 | 11637 |
| USD | 10113208 | RON | 46219414 | UBS AG | 6/18/25 | (383790) |
| USD | 5684124 | RON | 25039635 | UBS AG | 6/18/25 | (2686) |
| THB | 482446469 | USD | 14001691 | Bank of America N.A. | 6/18/25 | 486724 |
| THB | 394769312 | USD | 11574844 | Citibank N.A. | 6/18/25 | 280527 |
| THB | 193912459 | USD | 5773850 | Citibank N.A. | 6/18/25 | 49561 |
| THB | 286225155 | USD | 8661704 | Morgan Stanley | 6/18/25 | (66038) |
| THB | 18413878 | USD | 552755 | Morgan Stanley | 6/18/25 | 234 |
| THB | 292546027 | USD | 8453035 | UBS AG | 6/18/25 | 332454 |
| THB | 469761866 | USD | 13570343 | UBS AG | 6/18/25 | 537139 |
| THB | 390161013 | USD | 11293531 | UBS AG | 6/18/25 | 423447 |
| THB | 286225155 | USD | 8659189 | UBS AG | 6/18/25 | (63522) |
| THB | 292331139 | USD | 8843994 | UBS AG | 6/18/25 | (64958) |
| THB | 300128200 | USD | 8975260 | UBS AG | 6/18/25 | 37931 |
| USD | 5786864 | THB | 195738350 | Bank of America N.A. | 6/18/25 | (91381) |
| USD | 8686617 | THB | 296449045 | Bank of America N.A. | 6/18/25 | (216085) |
| USD | 10273843 | THB | 345067554 | Citibank N.A. | 6/18/25 | (88928) |
| USD | 2923966 | THB | 98053444 | Citibank N.A. | 6/18/25 | (20690) |
| USD | 8173626 | THB | 283805455 | Citibank N.A. | 6/18/25 | (349374) |
| USD | 17224884 | THB | 574548067 | Citibank N.A. | 6/18/25 | (29447) |
| USD | 14664130 | THB | 490362632 | Citibank N.A. | 6/18/25 | (62017) |
| USD | 5718546 | THB | 189837421 | Citibank N.A. | 6/18/25 | 17512 |
| USD | 25091011 | THB | 871787162 | Morgan Stanley | 6/18/25 | (1089748) |
| USD | 8611902 | THB | 285697280 | UBS AG | 6/18/25 | 32089 |
| USD | 8948854 | THB | 300696714 | UBS AG | 6/18/25 | (81410) |
| TRY | 232719603 | USD | 5871937 | JPMorgan Chase Bank N.A. | 6/18/25 | (125644) |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| TRY | 121419001 | USD | 2985241 | Morgan Stanley | 6/18/25 | $12827 |
| USD | 6714935 | TRY | 279005534 | Morgan Stanley | 6/18/25 | (174247) |
| TWD | 289787795 | USD | 8827781 | Citibank N.A. | 6/18/25 | 284783 |
| TWD | 384223069 | USD | 11709655 | Citibank N.A. | 6/18/25 | 372487 |
| USD | 11678122 | TWD | 384223069 | Bank of America N.A. | 6/18/25 | (404020) |
| USD | 8874768 | TWD | 289787795 | UBS AG | 6/18/25 | (237796) |
| USD | 5799867 | ZAR | 107433142 | Bank of America N.A. | 6/18/25 | 44118 |
| USD | 11609254 | ZAR | 215367139 | Bank of America N.A. | 6/18/25 | 70922 |
| USD | 19573395 | ZAR | 384861167 | Bank of America N.A. | 6/18/25 | (1045609) |
| USD | 330622 | ZAR | 6076385 | Citibank N.A. | 6/18/25 | 5078 |
| USD | 18471417 | ZAR | 342188933 | Citibank N.A. | 6/18/25 | 138586 |
| USD | 5587086 | ZAR | 103636413 | Citibank N.A. | 6/18/25 | 34747 |
| USD | 5797928 | ZAR | 107721942 | Citibank N.A. | 6/18/25 | 26707 |
| USD | 8803529 | ZAR | 161496027 | Citibank N.A. | 6/18/25 | 151352 |
| USD | 1155943 | ZAR | 21313151 | Citibank N.A. | 6/18/25 | 14087 |
| USD | 9794555 | ZAR | 188886070 | Citibank N.A. | 6/18/25 | (325049) |
| USD | 9639520 | ZAR | 186044223 | Citibank N.A. | 6/18/25 | (327832) |
| USD | 19990050 | ZAR | 381079906 | Citibank N.A. | 6/18/25 | (426372) |
| USD | 5787240 | ZAR | 109709624 | Citibank N.A. | 6/18/25 | (90472) |
| USD | 5860894 | ZAR | 111025596 | Citibank N.A. | 6/18/25 | (87322) |
| USD | 2896898 | ZAR | 53202495 | Goldman Sachs & Co. | 6/18/25 | 46565 |
| USD | 11295761 | ZAR | 220089482 | Goldman Sachs & Co. | 6/18/25 | (495571) |
| USD | 8173525 | ZAR | 160665322 | Goldman Sachs & Co. | 6/18/25 | (434147) |
| USD | 19283147 | ZAR | 383391549 | Goldman Sachs & Co. | 6/18/25 | (1257122) |
| USD | 11725193 | ZAR | 227991284 | Goldman Sachs & Co. | 6/18/25 | (489480) |
| USD | 5700720 | ZAR | 107482372 | Goldman Sachs & Co. | 6/18/25 | (57667) |
| USD | 4642985 | ZAR | 85516704 | Morgan Stanley | 6/18/25 | 61413 |
| USD | 9533903 | ZAR | 176924325 | UBS AG | 6/18/25 | 55152 |
| USD | 5784636 | ZAR | 106185398 | UBS AG | 6/18/25 | 95735 |
| USD | 9393455 | ZAR | 175874901 | UBS AG | 6/18/25 | (29073) |
| USD | 20263338 | ZAR | 385571467 | UBS AG | 6/18/25 | (393720) |
| USD | 19308943 | ZAR | 376898668 | UBS AG | 6/18/25 | (883469) |
| USD | 8515169 | ZAR | 161337683 | UBS AG | 6/18/25 | (128525) |
| USD | 5769350 | ZAR | 108173112 | UBS AG | 6/18/25 | (26043) |
| USD | 11453442 | ZAR | 214964748 | UBS AG | 6/18/25 | (63331) |
| USD | 3376329 | ZAR | 63414601 | UBS AG | 6/18/25 | (21119) |
| USD | 6227783 | ZAR | 117321425 | UBS AG | 6/18/25 | (57733) |
| ZAR | 215176161 | USD | 11733416 | Bank of America N.A. | 6/18/25 | (205316) |
| ZAR | 45794414 | USD | 2476812 | Bank of America N.A. | 6/18/25 | (23368) |
| ZAR | 214964748 | USD | 11484128 | Bank of America N.A. | 6/18/25 | 32645 |
| ZAR | 410454710 | USD | 22263343 | Citibank N.A. | 6/18/25 | (273160) |
| ZAR | 103577177 | USD | 5643503 | Citibank N.A. | 6/18/25 | (94338) |
| ZAR | 412711884 | USD | 22395151 | Goldman Sachs & Co. | 6/18/25 | (284040) |
| ZAR | 381895021 | USD | 19209470 | Goldman Sachs & Co. | 6/18/25 | 1250622 |
| ZAR | 116713590 | USD | 6203200 | Goldman Sachs & Co. | 6/18/25 | 49751 |
| ZAR | 170838433 | USD | 9148028 | Goldman Sachs & Co. | 6/18/25 | 4671 |
| ZAR | 151556238 | USD | 8231463 | Morgan Stanley | 6/18/25 | (111811) |
| ZAR | 315698765 | USD | 16647656 | Morgan Stanley | 6/18/25 | 265960 |
| ZAR | 166210209 | USD | 8458597 | Morgan Stanley | 6/18/25 | 446144 |
| ZAR | 55403404 | USD | 2847281 | Morgan Stanley | 6/18/25 | 120966 |
| ZAR | 393738287 | USD | 20849994 | UBS AG | 6/18/25 | 244603 |
| ZAR | 380155225 | USD | 19616862 | UBS AG | 6/18/25 | 750020 |
| ZAR | 163030480 | USD | 8285727 | UBS AG | 6/18/25 | 448659 |
| ZAR | 223337518 | USD | 11376025 | UBS AG | 6/18/25 | 589322 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| ZAR | 383391549 | USD | 19557616 | UBS AG | 6/18/25 | $982652 |
| ZAR | 375564804 | USD | 19299009 | UBS AG | 6/18/25 | 821940 |
| ZAR | 381031442 | USD | 20067068 | UBS AG | 6/18/25 | 346757 |
| ZAR | 382269918 | USD | 20216412 | UBS AG | 6/18/25 | 263765 |
| ZAR | 170130970 | USD | 9070795 | UBS AG | 6/18/25 | 44001 |
|  |  |  |  |  |  | $(4831187) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 2-Year Notes | 71 | June 2025 | $14778539 | $96416 |
| U.S. Treasury 10-Year Notes | 316 | June 2025 | 35461125 | 658978 |
| U.S. Treasury Ultra Bonds | 81 | June 2025 | 9803531 | (57064) |
|  |  |  | $60043195 | $698330 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** |
| **Reference Entity** | **Type** | **Fixed Rate<br>Received<br>(Paid)<br>Quarterly** | **Termination<br>Date** | **Notional<br>Amount** | **Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** | **Value^** |
| Chile Government International Bonds | Buy | (1.00)% | 6/20/29 | $5800000 | $(92313) | $(9281) | $(101594) |
| Markit CDX Emerging Markets Index Series 41 | Buy | (1.00)% | 6/20/29 | $16550000 | 430954 | (31889) | 399065 |
| Markit CDX North America High Yield Index Series 42 | Buy | (5.00)% | 6/20/29 | $9500000 | (522481) | 52527 | (469954) |
| Mexico Government International Bonds | Buy | (1.00)% | 6/20/29 | $15960000 | (32829) | 108371 | 75542 |
|  |  |  |  |  | $(216669) | $119728 | $(96941) |

---

^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** |
| **Counterparty** | **Floating**<br>**Rate Index** | **Pay/Receive**<br>**Floating Rate**<br>**Index**<br>**at Termination** | **Fixed**<br>**Rate** | **Termination**<br>**Date** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Value^** |
| Bank of America N.A. | BZDIOVRA | Pay | 14.20% | 1/2/31 | BRL | 16000000 | $102407 |
| Bank of America N.A. | BZDIOVRA | Pay | 14.27% | 1/2/31 | BRL | 10000000 | 65053 |
| Goldman Sachs & Co. | BZDIOVRA | Pay | 15.00% | 1/2/29 | BRL | 55000000 | 607609 |
| Goldman Sachs & Co. | BZDIOVRA | Pay | 14.18% | 1/2/29 | BRL | 60000000 | 265267 |
| Goldman Sachs & Co. | BZDIOVRA | Pay | 14.01% | 1/2/31 | BRL | 20000000 | 77701 |
|  |  |  |  |  |  |  | $1118037 |

---

^Amount represents value and unrealized appreciation (depreciation).

------

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| BRL | – | Brazilian Real |
| BZDIOVRA | – | Brazil Interbank Deposit Rate |
| CDX | – | Credit Derivatives Indexes |
| CHF | – | Swiss Franc |
| CLP | – | Chilean Peso |
| CNY | – | Chinese Yuan |
| COP | – | Colombian Peso |
| CZK | – | Czech Koruna |
| HUF | – | Hungarian Forint |
| IDR | – | Indonesian Rupiah |
| ILS | – | Israeli Shekel |
| INR | – | Indian Rupee |
| JPY | – | Japanese Yen |
| KRW | – | South Korean Won |
| MXN | – | Mexican Peso |
| MYR | – | Malaysian Ringgit |
| PEN | – | Peruvian Sol |
| PLN | – | Polish Zloty |
| RON | – | Romanian New Leu |
| THB | – | Thai Baht |
| TRY | – | Turkish Lira |
| TWD | – | Taiwanese Dollar |
| USD | – | United States Dollar |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
| ZAR | – | South African Rand |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $231,849,635, which represented 39.9% of total net assets.

(2)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(3)Security is in default.

(4)Non-income producing.

(5)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $4,768,563. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(6)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(7)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $9,498,706.

(8)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $4,886,258.

See Notes to Financial Statements.

------

Statement of Assets and Liabilities

---

| | |
|:---|:---|
| **APRIL 30, 2025 (UNAUDITED)** | |
| **Assets** | |
| Investment securities, at value (cost of $595,687,972) — including $4,768,563 of securities on loan | $599416979 |
| Investment made with cash collateral received for securities on loan, at value (cost of $4,886,258) | 4886258 |
| Total investment securities, at value (cost of $600,574,230) | 604303237 |
| Cash | 8654890 |
| Foreign currency holdings, at value (cost of $1,402,792) | 94103 |
| Receivable for capital shares sold | 59399 |
| Receivable for variation margin on swap agreements | 72465 |
| Unrealized appreciation on forward foreign currency exchange contracts | 52007406 |
| Swap agreements, at value | 1118037 |
| Interest receivable | 9668469 |
| Securities lending receivable | 1716 |
|  | 675979722 |
| **Liabilities** |  |
| Payable for collateral received for forward foreign currency exchange contracts | 7031927 |
| Payable for collateral received for swap agreements | 920000 |
| Payable for collateral received for securities on loan | 4886258 |
| Payable for investments purchased | 24949243 |
| Payable for capital shares redeemed | 183563 |
| Payable for variation margin on futures contracts | 28484 |
| Unrealized depreciation on forward foreign currency exchange contracts | 56838593 |
| Accrued management fees | 86691 |
| Distribution and service fees payable | 174 |
| Accrued foreign taxes | 45373 |
|  | 94970306 |
| **Net Assets** | $581009416 |
| **Net Assets Consist of:** |  |
| Capital paid in | $685118185 |
| Distributable earnings (loss) | (104108769) |
|  | $581009416 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share\*** |
| Investor Class | $87192255 | 9765413 | $8.93 |
| I Class | $3321585 | 371717 | $8.94 |
| Y Class | $30705466 | 3438893 | $8.93 |
| A Class | $238828 | 26789 | $8.92 |
| C Class | $61381 | 6907 | $8.89 |
| R Class | $191544 | 21503 | $8.91 |
| R5 Class | $43634 | 4887 | $8.93 |
| R6 Class | $759 | 85 | $8.93 |
| G Class | $459253964 | 51396085 | $8.94 |

---

\*Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class, for which the maximum offering price per share was $9.34 (net asset value divided by 0.955). A contingent deferred sales charge may be imposed on redemptions of A Class and C Class.

See Notes to Financial Statements.

------

Statement of Operations

---

| | |
|:---|:---|
| **FOR THE SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED)** |
| **Investment Income (Loss)** | |
| **Income:** | |
| Interest (net of foreign taxes withheld of $228,136) | $20532822 |
| Securities lending, net | 4145 |
|  | 20536967 |
| **Expenses:** |  |
| Management fees | 2215582 |
| Distribution and service fees: |  |
| &nbsp;&nbsp;&nbsp;A Class | 313 |
| &nbsp;&nbsp;&nbsp;C Class | 269 |
| &nbsp;&nbsp;&nbsp;R Class | 449 |
| Trustees' fees and expenses | 18539 |
| Other expenses | 18694 |
|  | 2253846 |
| Fees waived<sup>(1)</sup> | (1691680) |
|  | 562166 |
| **Net investment income (loss)** | 19974801 |
| **Realized and Unrealized Gain (Loss)** |  |
| **Net realized gain (loss) on:** |  |
| Investment transactions (net of foreign tax expenses paid (refunded) of $128,981) | 5388015 |
| Forward foreign currency exchange contract transactions | (3731500) |
| Futures contract transactions | (1227637) |
| Swap agreement transactions | (2180425) |
| Foreign currency translation transactions | (336537) |
|  | (2088084) |
| **Change in net unrealized appreciation (depreciation) on:** |  |
| Investments (includes (increase) decrease in accrued foreign taxes of $(40561)) | (5127685) |
| Forward foreign currency exchange contracts | (4303469) |
| Futures contracts | 1188799 |
| Swap agreements | 2211952 |
| Translation of assets and liabilities in foreign currencies | 82775 |
|  | (5947628) |
| **Net realized and unrealized gain (loss)** | (8035712) |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $11939089 |

---

(1)Amount consists of $12,827, $556, $4,439, $38, $8, $27, $7, $19 and $1,673,759 for Investor Class, I Class, Y Class, A Class, C Class, R Class, R5 Class, R6 Class and G Class, respectively.

See Notes to Financial Statements.

------

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
| **SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED) AND YEAR ENDED OCTOBER 31, 2024** | **SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED) AND YEAR ENDED OCTOBER 31, 2024** | **SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED) AND YEAR ENDED OCTOBER 31, 2024** |
| **Increase (Decrease) in Net Assets** | **April 30, 2025** | **October 31, 2024** |
| **Operations** | | |
| Net investment income (loss) | $19974801 | $40386499 |
| Net realized gain (loss) | (2088084) | (15660216) |
| Change in net unrealized appreciation (depreciation) | (5947628) | 56388887 |
| Net increase (decrease) in net assets resulting from operations | 11939089 | 81115170 |
| **Distributions to Shareholders** |  |  |
| From earnings: |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (1469928) | (4772930) |
| &nbsp;&nbsp;&nbsp;I Class | (67418) | (272234) |
| &nbsp;&nbsp;&nbsp;Y Class | (525949) | (1606202) |
| &nbsp;&nbsp;&nbsp;A Class | (4110) | (13525) |
| &nbsp;&nbsp;&nbsp;C Class | (524) | (362) |
| &nbsp;&nbsp;&nbsp;R Class | (2644) | (9161) |
| &nbsp;&nbsp;&nbsp;R5 Class | (774) | (3892) |
| &nbsp;&nbsp;&nbsp;R6 Class | (2408) | (16683) |
| &nbsp;&nbsp;&nbsp;G Class | (10718385) | (33272440) |
| Decrease in net assets from distributions | (12792140) | (39967429) |
| **Capital Share Transactions** |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (50825019) | (15773755) |
| **Net increase (decrease) in net assets** | (51678070) | 25373986 |
| **Net Assets** |  |  |
| Beginning of period | 632687486 | 607313500 |
| End of period | $581009416 | $632687486 |

---

See Notes to Financial Statements.

------

Notes to Financial Statements

**APRIL 30, 2025 (UNAUDITED)** 

**1. Organization**

American Century International Bond Funds (the trust) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and is organized as a Massachusetts business trust. Emerging Markets Debt Fund (the fund) is one fund in a series issued by the trust. The fund's investment objective is to seek total return.

The fund represents a single operating segment as its operating results are monitored as a whole and the long-term asset allocation is determined in accordance with its prospectus, based on defined investment objectives executed by the fund's portfolio management team. The President of the fund serves as the chief operating decision maker (CODM). The fund's income, expenses, assets, and performance are regularly monitored and assessed by the CODM, using the information consistent with that presented in the financial statements and financial highlights.

The fund offers the Investor Class, I Class, Y Class, A Class, C Class, R Class, R5 Class, R6 Class and G Class. The A Class may incur an initial sales charge. The A Class and C Class may be subject to a contingent deferred sales charge.

**2. Significant Accounting Policies**

The following is a summary of significant accounting policies consistently followed by the fund in preparation of its financial statements. The fund is an investment company and follows accounting and reporting guidance in accordance with accounting principles generally accepted in the United States of America. This may require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from these estimates. Management evaluated the impact of events or transactions occurring through the date the financial statements were issued that would merit recognition or disclosure.

**Investment Valuations —** The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred securities and convertible preferred securities with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers. Forward foreign currency exchange contracts are valued at the mean of the appropriate forward exchange rate at the close of the NYSE as provided by an independent pricing service.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment's primary exchange but before the fund's NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

------

**Foreign Currency Translations —** All assets and liabilities, including investment securities and other financial instruments, initially expressed in foreign currencies are translated into U.S. dollars each day at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service. The fund may enter into spot foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of investment securities, dividend and interest income, spot foreign currency exchange contracts, and expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Net realized and unrealized foreign currency exchange gains or losses related to investment securities are a component of net realized gain (loss) on investment transactions and change in net unrealized appreciation (depreciation) on investments, respectively.

**Security Transactions —** Security transactions are accounted for as of the trade date. Net realized gains and losses are determined on the identified cost basis, which is also used for federal income tax purposes. Certain countries impose taxes on realized gains on the sale of securities registered in their country. The fund records the foreign tax expense, if any, on an accrual basis. The foreign tax expense on realized gains and unrealized appreciation reduces the net realized gain (loss) on investment transactions and net unrealized appreciation (depreciation) on investments, respectively.

**Investment Income —** Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes accretion of discounts and amortization of premiums. Inflation adjustments related to inflation-linked debt securities are reflected as interest income. Securities lending income is net of fees and rebates earned by the lending agent for its services.

**Repurchase Agreements —** The fund may enter into repurchase agreements with institutions that ACIM has determined are creditworthy pursuant to criteria adopted by the Board of Trustees. The fund requires that the collateral, represented by securities, received in a repurchase transaction be transferred to the custodian in a manner sufficient to enable the fund to obtain those securities in the event of a default under the repurchase agreement. ACIM monitors, on a daily basis, the securities transferred to ensure the value, including accrued interest, of the securities under each repurchase agreement is equal to or greater than amounts owed to the fund under each repurchase agreement.

**Joint Trading Account —** Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the fund, along with certain other funds in the American Century Investments family of funds, may transfer uninvested cash balances into a joint trading account. These balances are invested in one or more repurchase agreements that are collateralized by U.S. Treasury or Agency obligations.

**Income Tax Status —** It is the fund's policy to distribute substantially all net investment income and net realized gains to shareholders and to otherwise qualify as a regulated investment company under provisions of the Internal Revenue Code. Accordingly, no provision has been made for income taxes. The fund files U.S. federal, state, local and non-U.S. tax returns as applicable. The fund's tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years from the date of filing but can be longer in certain jurisdictions. At this time, management believes there are no uncertain tax positions which, based on their technical merit, would not be sustained upon examination and for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

**Multiple Class —** All shares of the fund represent an equal pro rata interest in the net assets of the class to which such shares belong, and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except for class specific expenses and exclusive rights to vote on matters affecting only individual classes. Income, non-class specific expenses, and realized and unrealized capital gains and losses of the fund are allocated to each class of shares based on their relative net assets.

**Distributions to Shareholders —** Distributions from net investment income, if any, are generally declared and paid quarterly, but may be paid less frequently. Distributions from net realized gains, if any, are generally declared and paid annually.

**Indemnifications —** Under the trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the fund. In addition, in the normal course of business, the fund enters into contracts that provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against a fund. The risk of material loss from such claims is considered by management to be remote.

**Securities Lending —** Securities are lent to qualified financial institutions and brokers. State Street Bank & Trust Co. serves as securities lending agent to the fund pursuant to a Securities Lending Agreement. The lending of securities exposes the fund to risks such as: the borrowers may fail to return the loaned securities, the borrowers may not be able to provide additional collateral, the fund may experience delays in recovery of the loaned securities or delays in access to collateral, or the fund may experience losses related to the investment collateral. To minimize certain risks, loan counterparties pledge collateral in the form of cash and/or securities. The lending agent has agreed to indemnify the fund in the case of default of any securities borrowed. Cash collateral received is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, a money market mutual fund registered under the 1940 Act. The loans may also be secured by U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. By lending securities, the fund seeks to increase its net investment income through the receipt of interest and fees. Such income is reflected separately within the Statement of Operations. The value of loaned securities and related collateral outstanding at period end, if any, are shown on a gross basis within the Schedule of Investments and Statement of Assets and Liabilities.

------

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged, and the remaining contractual maturity of those transactions as of April 30, 2025.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Remaining Contractual Maturity of Agreements** | **Remaining Contractual Maturity of Agreements** | **Remaining Contractual Maturity of Agreements** | **Remaining Contractual Maturity of Agreements** | **Remaining Contractual Maturity of Agreements** | **Remaining Contractual Maturity of Agreements** |
| | **Overnight and**<br>**Continuous** | **<30 days** | **Between**<br>**30 & 90 days** | **>90 days** | **Total** |
| **Securities Lending Transactions**<sup>(1)</sup> | **Securities Lending Transactions**<sup>(1)</sup> | | | | |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | $4886258 |  |  |  | $4886258 |
| Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | Gross amount of recognized liabilities for securities lending transactions | $4886258 |

---

(1)Amount represents the payable for cash collateral received for securities on loan. This will generally be in the Overnight and Continuous column as the securities are typically callable on demand.

**3. Fees and Transactions with Related Parties**

Certain officers and trustees of the trust are also officers and/or directors of American Century Companies, Inc. (ACC). The trust's investment advisor, ACIM, the trust's distributor, American Century Investment Services, Inc. (ACIS), and the trust's transfer agent, American Century Services, LLC, are wholly owned, directly or indirectly, by ACC. Various funds issued by American Century Asset Allocation Portfolios, Inc. own, in aggregate, 51% of the shares of the fund. Related parties do not invest in the fund for the purpose of exercising management or control.

**Management Fees —** The trust has entered into a management agreement with ACIM, under which ACIM provides the fund with investment advisory and management services in exchange for a single, unified management fee (the fee) per class. The agreement provides that ACIM will pay all expenses of managing and operating the fund, except brokerage expenses, taxes, interest, fees and expenses of the independent trustees (including legal counsel fees), extraordinary expenses, and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Rule 12b-1 under the 1940 Act. The fee is computed and accrued daily based on each class's daily net assets and paid monthly in arrears. The difference in the fee among the classes is a result of their separate arrangements for non-Rule 12b-1 shareholder services. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the fund's assets, which do not vary by class. During the period ended April 30, 2025, the investment advisor agreed to waive 0.03% of the fund's management fee. The investment advisor expects this waiver to continue until February 28, 2026 and cannot terminate it prior to such date without the approval of the Board of Trustees. The investment advisor agreed to waive the G Class's management fee in its entirety. The investment advisor expects this waiver to remain in effect permanently and cannot terminate it without the approval of the Board of Trustees.

The annual management fee and the effective annual management fee after waiver for each class for the period ended April 30, 2025 are as follows:

---

| | | |
|:---|:---|:---|
| | **Annual Management Fee** | **Effective Annual Management Fee** <br>**After Waiver** |
| Investor Class | 0.96% | 0.93% |
| I Class | 0.86% | 0.83% |
| Y Class | 0.76% | 0.73% |
| A Class | 0.96% | 0.93% |
| C Class | 0.96% | 0.93% |
| R Class | 0.96% | 0.93% |
| R5 Class | 0.76% | 0.73% |
| R6 Class | 0.71% | 0.68% |
| G Class | 0.71% | 0.00% |

---

**Distribution and Service Fees —** The Board of Trustees has adopted a separate Master Distribution and Individual Shareholder Services Plan for each of the A Class, C Class and R Class (collectively the plans), pursuant to Rule 12b-1 of the 1940 Act. The plans provide that the A Class will pay ACIS an annual distribution and service fee of 0.25%. The plans provide that the C Class will pay ACIS an annual distribution and service fee of 1.00%, of which 0.25% is paid for individual shareholder services and 0.75% is paid for distribution services. The plans provide that the R Class will pay ACIS an annual distribution and service fee of 0.50%. The fees are computed and accrued daily based on each class's daily net assets and paid monthly in arrears. The fees are used to pay financial intermediaries for distribution and individual shareholder services. Fees incurred under the plans during the period ended April 30, 2025 are detailed in the Statement of Operations.

**Trustees' Fees and Expenses —** The Board of Trustees is responsible for overseeing the investment advisor's management and operations of the fund. The trustees receive detailed information about the fund and its investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The fund's officers do not receive compensation from the fund.

**Other Expenses —** A fund's other expenses may include interest charges, clearing exchange fees, proxy solicitation expenses, fees associated with the recovery of foreign tax reclaims and other miscellaneous expenses.

**Interfund Transactions —** The fund may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Trustees. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. There were no interfund transactions during the period.

------

**4. Investment Transactions**

Purchases of investment securities, excluding short-term investments, for the period ended April 30, 2025 totaled $373,258,222, of which $23,216,400 represented U.S. Treasury and Government Agency obligations.

Sales of investment securities, excluding short-term investments, for the period ended April 30, 2025 totaled $404,446,275, of which $21,287,893 represented U.S. Treasury and Government Agency obligations.

------

**5. Capital Share Transactions** 

Transactions in shares of the fund were as follows (unlimited number of shares authorized):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**April 30, 2025** | **Six months ended**<br>**April 30, 2025** | **Year ended**<br>**October 31, 2024** | **Year ended**<br>**October 31, 2024** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Investor Class** | | | | |
| Sold | 430842 | $3761850 | 681361 | $6024489 |
| Issued in reinvestment of distributions | 166772 | 1466330 | 536727 | 4763657 |
| Redeemed | (693874) | (6073299) | (1732963) | (15302986) |
|  | (96260) | (845119) | (514875) | (4514840) |
| **I Class** |  |  |  |  |
| Sold | 134703 | 1195871 | 493137 | 4381400 |
| Issued in reinvestment of distributions | 7668 | 67418 | 30644 | 272234 |
| Redeemed | (239802) | (2124652) | (680621) | (6041541) |
|  | (97431) | (861363) | (156840) | (1387907) |
| **Y Class** |  |  |  |  |
| Sold | 513940 | 4510042 | 773260 | 6851071 |
| Issued in reinvestment of distributions | 59765 | 525670 | 180999 | 1606202 |
| Redeemed | (423022) | (3738724) | (559402) | (4972808) |
|  | 150683 | 1296988 | 394857 | 3484465 |
| **A Class** |  |  |  |  |
| Sold | 361 | 3171 | 5479 | 49453 |
| Issued in reinvestment of distributions | 468 | 4110 | 1526 | 13525 |
| Redeemed | (4727) | (41642) | (4981) | (44650) |
|  | (3898) | (34361) | 2024 | 18328 |
| **C Class** |  |  |  |  |
| Sold | 2197 | 19000 | 3734 | 34166 |
| Issued in reinvestment of distributions | 60 | 524 | 41 | 362 |
|  | 2257 | 19524 | 3775 | 34528 |
| **R Class** |  |  |  |  |
| Sold | 4032 | 35559 | 8102 | 71703 |
| Issued in reinvestment of distributions | 301 | 2644 | 1033 | 9161 |
| Redeemed | (6077) | (53597) | (4258) | (37527) |
|  | (1744) | (15394) | 4877 | 43337 |
| **R5 Class** |  |  |  |  |
| Sold | 14 | 120 | 39 | 351 |
| Issued in reinvestment of distributions | 88 | 774 | 439 | 3892 |
| Redeemed | (9) | (77) | (3147) | (28810) |
|  | 93 | 817 | (2669) | (24567) |
| **R6 Class** |  |  |  |  |
| Sold | 502 | 4415 | 2535 | 22359 |
| Issued in reinvestment of distributions | 274 | 2408 | 1880 | 16683 |
| Redeemed | (32531) | (288611) | (3824) | (34231) |
|  | (31755) | (281788) | 591 | 4811 |
| **G Class** |  |  |  |  |
| Sold | 1268598 | 11251091 | 4551568 | 40593552 |
| Issued in reinvestment of distributions | 1218489 | 10718385 | 3748656 | 33272440 |
| Redeemed | (8219529) | (72073799) | (9757224) | (87297902) |
|  | (5732442) | (50104323) | (1457000) | (13431910) |
| Net increase (decrease) | (5810497) | $(50825019) | (1725260) | $(15773755) |

---

------

**6. Fair Value Measurements**

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

• Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

• Level 3 valuation inputs consist of unobservable data (including a fund's own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Sovereign Governments and Agencies |  | $461238452 |  |
| Corporate Bonds |  | 88873140 |  |
| U.S. Treasury Securities |  | 11058945 |  |
| Convertible Preferred Securities |  | 404916 |  |
| Short-Term Investments | $4919483 | 37808301 |  |
|  | $4919483 | $599383754 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $755394 |  |  |
| Swap Agreements |  | $1592644 |  |
| Forward Foreign Currency Exchange Contracts |  | 52007406 |  |
|  | $755394 | $53600050 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $57064 |  |  |
| Swap Agreements |  | $571548 |  |
| Forward Foreign Currency Exchange Contracts |  | 56838593 |  |
|  | $57064 | $57410141 |  |

---

**7. Derivative Instruments**

**Credit Risk —** The fund is subject to credit risk in the normal course of pursuing its investment objectives. The value of a bond generally declines as the credit quality of its issuer declines. Credit default swap agreements enable a fund to buy/sell protection against a credit event of a specific issuer or index. A fund may attempt to enhance returns by selling protection or attempt to mitigate credit risk by buying protection. The buyer/seller of credit protection against a security or basket of securities may pay/receive an up-front or periodic payment to compensate for/against potential default events. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The risks of entering into swap agreements include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments. The fund's average notional amount held during the period was $48,376,667.

**Foreign Currency Risk —** The fund is subject to foreign currency exchange rate risk in the normal course of pursuing its investment objectives. The value of foreign investments held by a fund may be significantly affected by changes in foreign currency exchange rates. The dollar value of a foreign security generally decreases when the value of the dollar rises against the foreign currency in which the security is denominated and tends to increase when the value of the dollar declines against such foreign currency. A fund may enter into forward foreign currency exchange contracts to reduce a fund's exposure to foreign currency

------

exchange rate fluctuations or to gain exposure to the fluctuations in the value of foreign currencies. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. The net U.S. dollar value of foreign currency underlying all contractual commitments held by a fund and the resulting unrealized appreciation or depreciation are determined daily. Realized gain or loss is recorded upon settlement of the contract. Net realized and unrealized gains or losses occurring during the holding period of forward foreign currency exchange contracts are a component of net realized gain (loss) on forward foreign currency exchange contract transactions and change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts, respectively. A fund bears the risk of an unfavorable change in the foreign currency exchange rate underlying the forward contract. Additionally, losses, up to the fair value, may arise if the counterparties do not perform under the contract terms. The fund's average U.S. dollar exposure to foreign currency risk derivative instruments held during the period was $1,612,081,054.

**Interest Rate Risk —** The fund is subject to interest rate risk in the normal course of pursuing its investment objectives. A fund may enter into futures contracts or interest rate swap agreements in order to manage its exposure to changes in market conditions. The value of bonds generally declines as interest rates rise. The risks of entering into interest rate risk derivative instruments include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments.

A fund may enter into futures contracts based on a bond index or a specific underlying security. A fund may purchase futures contracts to gain exposure to increases in market value or sell futures contracts to protect against a decline in market value. Upon entering into a futures contract, a fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the contract value and is recorded as unrealized gains and losses. A fund recognizes a realized gain or loss when the futures contract is closed or expires. Net realized and unrealized gains or losses occurring during the holding period of futures contracts are a component of net realized gain (loss) on futures contract transactions and change in net unrealized appreciation (depreciation) on futures contracts, respectively. The fund's average notional exposure to these interest rate risk derivative instruments held during the period was $50,204,932 futures contracts purchased and $36,581,422 futures contracts sold.

A fund may enter into interest rate swap agreements to gain exposure to declines in interest rates, to protect against increases in interest rates, or to maintain its ability to generate income at prevailing interest rates. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The fund's average notional amount on interest rate swap agreements held during the period was $22,390,394.

Value of Derivative Instruments as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| **Type of Risk Exposure** | **Location on Statement of Assets and Liabilities** | **Value** | **Location on Statement of Assets and Liabilities** | **Value** |
| Credit Risk | Receivable for variation margin on swap agreements\* | $72465 | Payable for variation margin on swap agreements\* |  |
| Foreign Currency Risk | Unrealized appreciation on forward foreign currency exchange contracts | 52007406 | Unrealized depreciation on forward foreign currency exchange contracts | $56838593 |
| Interest Rate Risk | Receivable for variation margin on futures contracts\* |  | Payable for variation margin on futures contracts\* | 28484 |
| Interest Rate Risk | Swap agreements | 1118037 | Swap agreements |  |
|  |  | $53197908 |  | $56867077 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

Effect of Derivative Instruments on the Statement of Operations for the Six Months Ended April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Net Realized Gain (Loss)** | **Net Realized Gain (Loss)** | **Change in Net Unrealized Appreciation (Depreciation)** | **Change in Net Unrealized Appreciation (Depreciation)** |
| **Type of Risk Exposure** | **Location on Statement of Operations** | **Value** | **Location on Statement of Operations** | **Value** |
| Credit Risk | Net realized gain (loss) on swap agreement transactions | $(377836) | Change in net unrealized appreciation (depreciation) on swap agreements | $242266 |
| Foreign Currency Risk | Net realized gain (loss) on forward foreign currency exchange contract transactions | (3731500) | Change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts | (4303469) |
| Interest Rate Risk | Net realized gain (loss) on futures contract transactions | (1227637) | Change in net unrealized appreciation (depreciation) on futures contracts | 1188799 |
| Interest Rate Risk | Net realized gain (loss) on swap agreement transactions | (1802589) | Change in net unrealized appreciation (depreciation) on swap agreements | 1969686 |
|  |  | $(7139562) |  | $(902718) |

---

------

**Counterparty Risk —** The fund is subject to counterparty risk, or the risk that an institution will fail to perform its obligations to the fund. The investment advisor attempts to minimize counterparty risk prior to entering into transactions by performing extensive reviews of the creditworthiness of all potential counterparties. The fund may also enter into agreements that provide provisions for legally enforceable master netting arrangements to manage the credit risk between counterparties related to forward foreign currency exchange contracts and/or over-the-counter swap agreements. A master netting arrangement provides for the net settlement of multiple contracts with a single counterparty through a single payment in the event of default or termination of any one contract. To mitigate counterparty risk, the fund may receive assets or be required to pledge assets at the custodian bank or with a broker as designated under prescribed collateral provisions.

The fund does not offset assets and liabilities subject to master netting arrangements on the Statement of Assets and Liabilities for financial reporting purposes. The fund's asset derivatives and liability derivatives that are subject to legally enforceable offsetting arrangements as of period end were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amount**<br>**on Statement**<br>**of Assets**<br>**and Liabilities** | **Amount**<br>**Eligible**<br>**for Offset** | **Collateral** | **Net**<br>**Exposure\*** |
| **Assets** | | | | |
| Bank of America N.A. | $6907426 | $(6907426) |  |  |
| Citibank N.A. | 13612165 | (11876677) | $(1735488) |  |
| Goldman Sachs & Co. | 8652808 | (8652808) |  |  |
| JPMorgan Chase Bank N.A. | 6934134 | (4551553) |  | $2382581 |
| Morgan Stanley | 4524758 | (4524758) |  |  |
| UBS AG | 12494152 | (9795121) |  | 2699031 |
|  | $53125443 | $(46308343) | $(1735488) | $5081612 |
| **Liabilities** |  |  |  |  |
| Bank of America N.A. | $12373007 | $(6907426) | $(2838473) | $2627108 |
| Citibank N.A. | 11876677 | (11876677) |  |  |
| Goldman Sachs & Co. | 13357758 | (8652808) |  | 4704950 |
| JPMorgan Chase Bank N.A. | 4551553 | (4551553) |  |  |
| Morgan Stanley | 4884477 | (4524758) | (359719) |  |
| UBS AG | 9795121 | (9795121) |  |  |
|  | $56838593 | $(46308343) | $(3198192) | $7332058 |

---

\*The net exposure represents the amount receivable from the counterparty or amount payable to the counterparty in the event of default or termination.

**8. Risk Factors**

The value of the fund's shares will go up and down, sometimes rapidly or unpredictably, based on the performance of the securities owned by the fund and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of the fund's investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

There are certain risks involved in investing in foreign securities. These risks include those resulting from political events (such as civil unrest, national elections and imposition of exchange controls), social and economic events (such as labor strikes and rising inflation), and natural disasters. Securities of foreign issuers may be less liquid and more volatile. Investing in emerging markets or a significant portion of assets in one country or region may accentuate these risks.

The fund may invest in lower-rated debt securities, which are subject to substantial risks including liquidity risk and credit risk.

The majority of the fund is owned by a relatively small number of shareholders. To the extent that a large shareholder (including a fund of funds) invests in the fund, the fund may experience relatively large redemptions as such shareholder reallocates its assets. In the event of a large shareholder redemption, the ongoing operations of the fund may be at risk.

The fund's investment process may result in high portfolio turnover, which could mean high transaction costs, affecting both performance and capital gains tax liabilities to investors.

**9. Federal Tax Information**

The book-basis character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements.

------

As of period end, the components of investments for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| Federal tax cost of investments | $602494665 |
| Gross tax appreciation of investments | $14288219 |
| Gross tax depreciation of investments | (12479647) |
| Net tax appreciation (depreciation) of investments | $1808572 |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

As of October 31, 2024, the fund had accumulated short-term capital losses of $(58,561,948) and accumulated long-term capital losses of $(48,194,396), which represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations.

------

Financial Highlights

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Distributions**<br>**From**<br>**Net**<br>**Investment**<br>**Income** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating**<br>**Expenses**<br>**(before**<br>**expense**<br>**waiver)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<br>**(before**<br>**expense**<br>**waiver)** | **Portfolio**<br>**Turnover**<br>**Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.92 | 0.26 | (0.10) | 0.16 | (0.15) | $8.93 | 1.84% | 0.94% | 0.97% | 6.00% | 5.97% | 66% | $87192 |
| 2024 | $8.36 | 0.50 | 0.56 | 1.06 | (0.50) | $8.92 | 12.78% | 0.95% | 0.98% | 5.60% | 5.57% | 98% | $88007 |
| 2023 | $8.22 | 0.48 | 0.10 | 0.58 | (0.44) | $8.36 | 6.95% | 1.00% | 1.01% | 5.54% | 5.53% | 66% | $86778 |
| 2022 | $10.48 | 0.43 | (2.49) | (2.06) | (0.20) | $8.22 | (19.89)% | 0.98% | 0.98% | 4.70% | 4.70% | 125% | $85456 |
| 2021 | $10.32 | 0.40 | 0.15 | 0.55 | (0.39) | $10.48 | 5.29% | 0.97% | 0.97% | 3.77% | 3.77% | 51% | $103626 |
| 2020 | $10.46 | 0.39 | (0.16) | 0.23 | (0.37) | $10.32 | 2.34% | 0.97% | 0.97% | 3.83% | 3.83% | 68% | $89509 |
| **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.93 | 0.27 | (0.10) | 0.17 | (0.16) | $8.94 | 1.90% | 0.84% | 0.87% | 6.10% | 6.07% | 66% | $3322 |
| 2024 | $8.37 | 0.51 | 0.55 | 1.06 | (0.50) | $8.93 | 12.88% | 0.85% | 0.88% | 5.70% | 5.67% | 98% | $4190 |
| 2023 | $8.22 | 0.49 | 0.11 | 0.60 | (0.45) | $8.37 | 7.19% | 0.90% | 0.91% | 5.64% | 5.63% | 66% | $5237 |
| 2022 | $10.47 | 0.44 | (2.48) | (2.04) | (0.21) | $8.22 | (19.74)% | 0.88% | 0.88% | 4.80% | 4.80% | 125% | $4887 |
| 2021 | $10.32 | 0.41 | 0.14 | 0.55 | (0.40) | $10.47 | 5.30% | 0.87% | 0.87% | 3.87% | 3.87% | 51% | $12356 |
| 2020 | $10.46 | 0.40 | (0.16) | 0.24 | (0.38) | $10.32 | 2.44% | 0.87% | 0.87% | 3.93% | 3.93% | 68% | $1887 |
| **Y Class** | **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.92 | 0.27 | (0.10) | 0.17 | (0.16) | $8.93 | 1.95% | 0.74% | 0.77% | 6.20% | 6.17% | 66% | $30705 |
| 2024 | $8.36 | 0.51 | 0.56 | 1.07 | (0.51) | $8.92 | 13.01% | 0.75% | 0.78% | 5.80% | 5.77% | 98% | $29345 |
| 2023 | $8.22 | 0.50 | 0.10 | 0.60 | (0.46) | $8.36 | 7.17% | 0.80% | 0.81% | 5.74% | 5.73% | 66% | $24197 |
| 2022 | $10.47 | 0.45 | (2.48) | (2.03) | (0.22) | $8.22 | (19.67)% | 0.78% | 0.78% | 4.90% | 4.90% | 125% | $21008 |
| 2021 | $10.32 | 0.42 | 0.14 | 0.56 | (0.41) | $10.47 | 5.40% | 0.77% | 0.77% | 3.97% | 3.97% | 51% | $26539 |
| 2020 | $10.46 | 0.41 | (0.16) | 0.25 | (0.39) | $10.32 | 2.55% | 0.77% | 0.77% | 4.03% | 4.03% | 68% | $18475 |
| **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** |
| 2025<sup>(3)</sup> | $8.91 | 0.25 | (0.10) | 0.15 | (0.14) | $8.92 | 1.71% | 1.19% | 1.22% | 5.75% | 5.72% | 66% | $239 |
| 2024 | $8.35 | 0.47 | 0.56 | 1.03 | (0.47) | $8.91 | 12.52% | 1.20% | 1.23% | 5.35% | 5.32% | 98% | $273 |
| 2023 | $8.21 | 0.46 | 0.10 | 0.56 | (0.42) | $8.35 | 6.70% | 1.25% | 1.26% | 5.29% | 5.28% | 66% | $239 |
| 2022 | $10.47 | 0.41 | (2.49) | (2.08) | (0.18) | $8.21 | (20.09)% | 1.23% | 1.23% | 4.45% | 4.45% | 125% | $203 |
| 2021 | $10.31 | 0.38 | 0.14 | 0.52 | (0.36) | $10.47 | 5.03% | 1.22% | 1.22% | 3.52% | 3.52% | 51% | $271 |
| 2020 | $10.45 | 0.37 | (0.16) | 0.21 | (0.35) | $10.31 | 2.08% | 1.22% | 1.22% | 3.58% | 3.58% | 68% | $363 |

---

------

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Distributions**<br>**From**<br>**Net**<br>**Investment**<br>**Income** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating**<br>**Expenses**<br>**(before**<br>**expense**<br>**waiver)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<br>**(before**<br>**expense**<br>**waiver)** | **Portfolio**<br>**Turnover**<br>**Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** |
| 2025<sup>(3)</sup> | $8.88 | 0.21 | (0.09) | 0.12 | (0.11) | $8.89 | 1.32% | 1.94% | 1.97% | 5.00% | 4.97% | 66% | $61 |
| 2024 | $8.32 | 0.42 | 0.55 | 0.97 | (0.41) | $8.88 | 11.72% | 1.95% | 1.98% | 4.60% | 4.57% | 98% | $41 |
| 2023 | $8.18 | 0.39 | 0.10 | 0.49 | (0.35) | $8.32 | 5.92% | 2.00% | 2.01% | 4.54% | 4.53% | 66% | $7 |
| 2022 | $10.45 | 0.34 | (2.48) | (2.14) | (0.13) | $8.18 | (20.67)% | 1.98% | 1.98% | 3.70% | 3.70% | 125% | $17 |
| 2021 | $10.29 | 0.30 | 0.14 | 0.44 | (0.28) | $10.45 | 4.25% | 1.97% | 1.97% | 2.77% | 2.77% | 51% | $36 |
| 2020 | $10.44 | 0.29 | (0.17) | 0.12 | (0.27) | $10.29 | 1.23% | 1.97% | 1.97% | 2.83% | 2.83% | 68% | $41 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |
| 2025<sup>(3)</sup> | $8.90 | 0.24 | (0.10) | 0.14 | (0.13) | $8.91 | 1.58% | 1.44% | 1.47% | 5.50% | 5.47% | 66% | $192 |
| 2024 | $8.34 | 0.45 | 0.56 | 1.01 | (0.45) | $8.90 | 12.12% | 1.45% | 1.48% | 5.10% | 5.07% | 98% | $207 |
| 2023 | $8.20 | 0.44 | 0.10 | 0.54 | (0.40) | $8.34 | 6.56% | 1.50% | 1.51% | 5.04% | 5.03% | 66% | $153 |
| 2022 | $10.46 | 0.39 | (2.49) | (2.10) | (0.16) | $8.20 | (20.29)% | 1.48% | 1.48% | 4.20% | 4.20% | 125% | $148 |
| 2021 | $10.30 | 0.35 | 0.14 | 0.49 | (0.33) | $10.46 | 4.67% | 1.47% | 1.47% | 3.27% | 3.27% | 51% | $161 |
| 2020 | $10.45 | 0.34 | (0.17) | 0.17 | (0.32) | $10.30 | 1.84% | 1.47% | 1.47% | 3.33% | 3.33% | 68% | $139 |
| **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** |
| 2025<sup>(3)</sup> | $8.92 | 0.27 | (0.10) | 0.17 | (0.16) | $8.93 | 1.95% | 0.74% | 0.77% | 6.20% | 6.17% | 66% | $44 |
| 2024 | $8.36 | 0.51 | 0.56 | 1.07 | (0.51) | $8.92 | 13.01% | 0.75% | 0.78% | 5.80% | 5.77% | 98% | $43 |
| 2023 | $8.22 | 0.50 | 0.10 | 0.60 | (0.46) | $8.36 | 7.17% | 0.80% | 0.81% | 5.74% | 5.73% | 66% | $62 |
| 2022 | $10.48 | 0.46 | (2.50) | (2.04) | (0.22) | $8.22 | (19.75)% | 0.78% | 0.78% | 4.90% | 4.90% | 125% | $7 |
| 2021 | $10.32 | 0.42 | 0.15 | 0.57 | (0.41) | $10.48 | 5.49% | 0.77% | 0.77% | 3.97% | 3.97% | 51% | $8 |
| 2020 | $10.46 | 0.41 | (0.16) | 0.25 | (0.39) | $10.32 | 2.56% | 0.77% | 0.77% | 4.03% | 4.03% | 68% | $8 |
| **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** |
| 2025<sup>(3)</sup> | $8.93 | 0.31 | (0.15) | 0.16 | (0.16) | $8.93 | 1.98% | 0.69% | 0.72% | 6.25% | 6.22% | 66% | $1 |
| 2024 | $8.36 | 0.52 | 0.57 | 1.09 | (0.52) | $8.93 | 12.93% | 0.70% | 0.73% | 5.85% | 5.82% | 98% | $284 |
| 2023 | $8.22 | 0.51 | 0.09 | 0.60 | (0.46) | $8.36 | 7.35% | 0.75% | 0.76% | 5.79% | 5.78% | 66% | $261 |
| 2022 | $10.48 | 0.46 | (2.50) | (2.04) | (0.22) | $8.22 | (19.71)% | 0.73% | 0.73% | 4.95% | 4.95% | 125% | $267 |
| 2021 | $10.32 | 0.43 | 0.14 | 0.57 | (0.41) | $10.48 | 5.56% | 0.72% | 0.72% | 4.02% | 4.02% | 51% | $350 |
| 2020 | $10.46 | 0.42 | (0.16) | 0.26 | (0.40) | $10.32 | 2.60% | 0.72% | 0.72% | 4.08% | 4.08% | 68% | $1958 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Distributions**<br>**From**<br>**Net**<br>**Investment**<br>**Income** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating**<br>**Expenses**<br>**(before**<br>**expense**<br>**waiver)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<br>**(before**<br>**expense**<br>**waiver)** | **Portfolio**<br>**Turnover**<br>**Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** |
| 2025<sup>(3)</sup> | $8.93 | 0.30 | (0.10) | 0.20 | (0.19) | $8.94 | 2.33% | 0.01% | 0.72% | 6.93% | 6.22% | 66% | $459254 |
| 2024 | $8.37 | 0.58 | 0.56 | 1.14 | (0.58) | $8.93 | 13.82% | 0.02% | 0.73% | 6.53% | 5.82% | 98% | $510297 |
| 2023 | $8.23 | 0.57 | 0.09 | 0.66 | (0.52) | $8.37 | 7.97% | 0.05% | 0.76% | 6.49% | 5.78% | 66% | $490377 |
| 2022 | $10.47 | 0.52 | (2.48) | (1.96) | (0.28) | $8.23 | (19.02)% | 0.02% | 0.73% | 5.66% | 4.95% | 125% | $433025 |
| 2021 | $10.32 | 0.50 | 0.14 | 0.64 | (0.49) | $10.47 | 6.20% | 0.01% | 0.72% | 4.73% | 4.02% | 51% | $578327 |
| 2020 | $10.46 | 0.49 | (0.16) | 0.33 | (0.47) | $10.32 | 3.33% | 0.01% | 0.72% | 4.79% | 4.08% | 68% | $435472 |

---

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended April 30, 2025 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement(s) of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | |
|:---|:---|
| Contact Us | americancentury.com |
| Automated Information Line | 1-800-345-8765 |
| Investor Services Representative | 1-800-345-2021<br>or 816-531-5575 |
| Banks and Trust Companies, Broker-Dealers,<br>Financial Professionals, Insurance Companies | 1-800-345-6488 |
| *This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.* | *This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.* |
| **©2025 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-92373 2506** | **©2025 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-92373 2506** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;

![Image5.jpg](ck0000880268-20250430_g3.jpg)

---

| |
|:---|
| Semiannual Financial Statements and Other Information |
| April 30, 2025 |
| Global Bond Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AGBVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (AGBHX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (AGBWX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (AGBAX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (AGBTX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AGBRX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (AGBNX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AGBDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;G Class (AGBGX) |

---

------

**Table of Contents**

---

| | |
|:---|:---|
| Schedule of Investments | [2](#i6d2a8b3c6a45403fa7d666364230cbf3_97) |
| Statement of Assets and Liabilities | [22](#i6d2a8b3c6a45403fa7d666364230cbf3_103) |
| Statement of Operations | [23](#i6d2a8b3c6a45403fa7d666364230cbf3_106) |
| Statement of Changes in Net Assets | [24](#i6d2a8b3c6a45403fa7d666364230cbf3_109) |
| Notes to Financial Statements | [25](#i6d2a8b3c6a45403fa7d666364230cbf3_112) |
| Financial Highlights | [33](#i6d2a8b3c6a45403fa7d666364230cbf3_115) |

---

------

Schedule of Investments

**APRIL 30, 2025 (UNAUDITED)**

---

| | | | |
|:---|:---|:---|:---|
| <br>**CORPORATE BONDS — 29.1%** | | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 0.4%** | |  |  |
| Axon Enterprise, Inc., 6.125%, 3/15/30<sup>(1)</sup> |  | $722000 | $736371 |
| Axon Enterprise, Inc., 6.25%, 3/15/33<sup>(1)</sup> |  | 406000 | 414821 |
| Boeing Co., 6.53%, 5/1/34 |  | 4645000 | 4992826 |
| Bombardier, Inc., 7.25%, 7/1/31<sup>(1)</sup> |  | 2354000 | 2413097 |
| Northrop Grumman Corp., 5.15%, 5/1/40 |  | 760000 | 731996 |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(1)</sup> |  | 2139000 | 2184655 |
|  |  |  | 11473766 |
| **Air Freight and Logistics — 0.1%** |  |  |  |
| GXO Logistics, Inc., 6.25%, 5/6/29 |  | 1545000 | 1572271 |
| GXO Logistics, Inc., 6.50%, 5/6/34 |  | 795000 | 795106 |
|  |  |  | 2367377 |
| **Automobile Components — 0.2%** |  |  |  |
| Aptiv Swiss Holdings Ltd., VRN, 6.875%, 12/15/54 |  | 1845000 | 1730189 |
| ZF North America Capital, Inc., 6.875%, 4/23/32<sup>(1)</sup> |  | 3081000 | 2707339 |
|  |  |  | 4437528 |
| **Automobiles — 0.2%** |  |  |  |
| American Honda Finance Corp., 4.95%, 1/9/26 |  | 935000 | 938001 |
| Ford Motor Credit Co. LLC, 5.85%, 5/17/27 |  | 1435000 | 1428991 |
| Ford Motor Credit Co. LLC, 6.125%, 3/8/34 |  | 1230000 | 1164772 |
| General Motors Financial Co., Inc., 5.60%, 6/18/31 |  | 1150000 | 1153452 |
| Hyundai Capital America, 6.50%, 1/16/29<sup>(1)</sup> |  | 387000 | 404332 |
|  |  |  | 5089548 |
| **Banks — 6.0%** |  |  |  |
| Abanca Corp. Bancaria SA, 0.75%, 5/28/29 | EUR | 600000 | 634162 |
| Banco BPM SpA, 3.375%, 1/24/30 | EUR | 2400000 | 2809997 |
| Banco de Credito del Peru SA, VRN, 6.45%, 7/30/35<sup>(1)</sup> |  | $2859000 | 2854211 |
| Banco Santander SA, VRN, 2.25%, 10/4/32 | GBP | 3200000 | 4000047 |
| Bank of America Corp., 2.30%, 7/25/25 | GBP | 800000 | 1060563 |
| Bank of America Corp., VRN, 5.47%, 1/23/35 |  | $4110000 | 4170263 |
| Bank of America Corp., VRN, 5.51%, 1/24/36 |  | 1850000 | 1875874 |
| Bank of Nova Scotia, VRN, 3.625%, 10/27/81 |  | 4795000 | 4236412 |
| Banque Federative du Credit Mutuel SA, 5.00%, 1/19/26 | GBP | 1500000 | 2014892 |
| Banque Federative du Credit Mutuel SA, VRN, 3.875%, 6/16/32 | EUR | 1000000 | 1150712 |
| Barclays PLC, 3.25%, 2/12/27 | GBP | 600000 | 779221 |
| Barclays PLC, VRN, 4.92%, 8/8/30 | EUR | 1500000 | 1818069 |
| Barclays PLC, VRN, 8.41%, 11/14/32 | GBP | 1500000 | 2142027 |
| BNP Paribas SA, VRN, 4.90%, 5/9/29<sup>(1)(2)</sup> |  | $1202000 | 1201592 |
| BNP Paribas SA, VRN, 5.34%, 6/12/29<sup>(1)</sup> |  | 1235000 | 1260184 |
| BNP Paribas SA, VRN, 2.00%, 5/24/31 | GBP | 3500000 | 4506777 |
| BPCE SA, VRN, 2.50%, 11/30/32 | GBP | 2000000 | 2488650 |
| BPCE SA, VRN, 4.125%, 3/8/33 | EUR | 2000000 | 2330762 |
| BPCE SA, VRN, 7.00%, 10/19/34<sup>(1)</sup> |  | $1465000 | 1594009 |
| Caixa Geral de Depositos SA, VRN, 0.375%, 9/21/27 | EUR | 2000000 | 2209231 |
| Caixa Geral de Depositos SA, VRN, 5.75%, 10/31/28 | EUR | 2000000 | 2445801 |
| CaixaBank SA, VRN, 6.25%, 2/23/33 | EUR | 4500000 | 5471847 |
| Citigroup, Inc., VRN, 5.61%, 3/4/56 |  | $1880000 | 1797875 |
| Commerzbank AG, VRN, 6.50%, 12/6/32 | EUR | 1500000 | 1823293 |
| Credit Agricole Italia SpA, 3.50%, 1/15/30 | EUR | 9000000 | 10602036 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| Credit Agricole SA, VRN, 5.50%, 8/28/33 | EUR | 2000000 | $2417949 |
| Credit Mutuel Arkea SA, 1.125%, 5/23/29 | EUR | 1600000 | 1693452 |
| Danske Bank AS, VRN, 4.125%, 1/10/31 | EUR | 1200000 | 1431943 |
| Eurobank SA, VRN, 5.875%, 11/28/29 | EUR | 2000000 | 2468005 |
| European Investment Bank, 3.90%, 6/15/28<sup>(1)</sup> | CAD | 12184000 | 9156648 |
| European Union, 0.00%, 7/4/31<sup>(3)</sup> | EUR | 20800000 | 20231129 |
| HSBC Holdings PLC, VRN, 1.75%, 7/24/27 | GBP | 1500000 | 1923104 |
| Intesa Sanpaolo SpA, 3.875%, 7/14/27<sup>(1)</sup> |  | $1100000 | 1083191 |
| Intesa Sanpaolo SpA, 4.375%, 8/29/27 | EUR | 2000000 | 2371261 |
| Intesa Sanpaolo SpA, VRN, 6.18%, 2/20/34 | EUR | 2500000 | 3077145 |
| JPMorgan Chase & Co., VRN, 5.10%, 4/22/31 |  | $4475000 | 4557193 |
| JPMorgan Chase & Co., VRN, 5.34%, 1/23/35 |  | 1611000 | 1625085 |
| JPMorgan Chase & Co., VRN, 5.77%, 4/22/35 |  | 2762000 | 2863814 |
| La Banque Postale SA, VRN, 5.625%, 9/21/28 | GBP | 1000000 | 1351383 |
| mBank SA, VRN, 4.03%, 9/27/30 | EUR | 3000000 | 3423967 |
| Mizuho Financial Group, Inc., 2.10%, 4/8/32 | EUR | 7000000 | 7288374 |
| NatWest Group PLC, VRN, 2.11%, 11/28/31 | GBP | 1900000 | 2431568 |
| Novo Banco SA, VRN, 9.875%, 12/1/33 | EUR | 7000000 | 9274773 |
| Royal Bank of Canada, VRN, 5.15%, 2/4/31 |  | $2470000 | 2514223 |
| Societe Generale SA, VRN, 5.75%, 1/22/32 | GBP | 3500000 | 4704585 |
| Societe Generale SFH SA, 0.75%, 1/29/27 | EUR | 600000 | 665051 |
| Standard Chartered PLC, VRN, 1.20%, 9/23/31 | EUR | 2000000 | 2198609 |
| Svenska Handelsbanken AB, VRN, 4.625%, 8/23/32 | GBP | 3000000 | 3950293 |
| U.S. Bancorp, VRN, 5.05%, 2/12/31 |  | $1568000 | 1589012 |
| UniCredit SpA, VRN, 5.86%, 6/19/32<sup>(1)</sup> |  | 3281000 | 3295110 |
| Wells Fargo & Co., VRN, 5.39%, 4/24/34 |  | 1092000 | 1096810 |
| Wells Fargo & Co., VRN, 5.56%, 7/25/34 |  | 736000 | 746287 |
| Wells Fargo & Co., VRN, 5.01%, 4/4/51 |  | 1300000 | 1144557 |
| Westpac Banking Corp., VRN, 5.62%, 11/20/35 |  | 2800000 | 2776883 |
| Zions Bancorp NA, VRN, 6.82%, 11/19/35 |  | 1782000 | 1758545 |
|  |  |  | 172388456 |
| **Beverages — 0.0%** |  |  |  |
| Anheuser-Busch InBev SA, 1.65%, 3/28/31 | EUR | 1000000 | 1057962 |
| **Biotechnology — 0.3%** |  |  |  |
| AbbVie, Inc., 5.35%, 3/15/44 |  | $1212000 | 1173197 |
| Amgen, Inc., 5.65%, 3/2/53 |  | 1710000 | 1642432 |
| Biocon Biologics Global PLC, 6.67%, 10/9/29<sup>(1)</sup> |  | 5025000 | 4531856 |
|  |  |  | 7347485 |
| **Building Products — 0.3%** |  |  |  |
| Builders FirstSource, Inc., 5.00%, 3/1/30<sup>(1)</sup> |  | 4511000 | 4332842 |
| Builders FirstSource, Inc., 6.375%, 3/1/34<sup>(1)</sup> |  | 1553000 | 1543347 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> |  | 1313000 | 1330520 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> |  | 670000 | 625525 |
|  |  |  | 7832234 |
| **Capital Markets — 1.7%** |  |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28<sup>(1)</sup> |  | 1270000 | 1268070 |
| ARES Strategic Income Fund, 6.35%, 8/15/29<sup>(1)</sup> |  | 1515000 | 1544697 |
| Blackstone Private Credit Fund, 7.30%, 11/27/28 |  | 624000 | 660482 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 |  | 570000 | 573206 |
| Blue Owl Capital Corp., 2.875%, 6/11/28 |  | 1755000 | 1601483 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 |  | 999000 | 991941 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 |  | 1745000 | 1834313 |
| Blue Owl Credit Income Corp., 6.60%, 9/15/29<sup>(1)</sup> |  | 820000 | 829587 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> |  | 1736000 | 1723942 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> |  | $1000000 | $993487 |
| Fortitude Group Holdings LLC, 6.25%, 4/1/30<sup>(1)</sup> |  | 6508000 | 6606889 |
| Goldman Sachs Group, Inc., 4.25%, 1/29/26 | GBP | 1400000 | 1868031 |
| Goldman Sachs Group, Inc., VRN, 6.48%, 10/24/29 |  | $745000 | 790633 |
| Goldman Sachs Group, Inc., VRN, 4.69%, 10/23/30 |  | 534000 | 532863 |
| Goldman Sachs Group, Inc., VRN, 5.85%, 4/25/35 |  | 1154000 | 1190297 |
| Goldman Sachs Group, Inc., VRN, 5.56%, 11/19/45 |  | 1125000 | 1082897 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 |  | 1518000 | 1584168 |
| Golub Capital Private Credit Fund, 5.80%, 9/12/29<sup>(1)</sup> |  | 1256000 | 1236577 |
| Golub Capital Private Credit Fund, 5.875%, 5/1/30<sup>(1)</sup> |  | 1141000 | 1120314 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 |  | 1495000 | 1494436 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 |  | 1182000 | 1199473 |
| LPL Holdings, Inc., 5.15%, 6/15/30 |  | 5775000 | 5796137 |
| Morgan Stanley, VRN, 6.63%, 11/1/34 |  | 2835000 | 3086680 |
| Morgan Stanley, VRN, 5.83%, 4/19/35 |  | 581000 | 600115 |
| Morgan Stanley, VRN, 5.52%, 11/19/55 |  | 700000 | 669195 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 |  | 2700000 | 2613535 |
| UBS Group AG, VRN, 3.125%, 6/15/30 | EUR | 4000000 | 4540125 |
|  |  |  | 48033573 |
| **Chemicals — 0.5%** |  |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/10/28<sup>(1)</sup> |  | $1632000 | 1469098 |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)</sup> |  | 1860000 | 1543316 |
| Braskem Netherlands Finance BV, 8.00%, 10/15/34<sup>(1)</sup> |  | 4590000 | 4098870 |
| Celanese U.S. Holdings LLC, 6.42%, 7/15/27 |  | 1950000 | 1967557 |
| Orbia Advance Corp. SAB de CV, 2.875%, 5/11/31<sup>(1)</sup> |  | 5745000 | 4686636 |
|  |  |  | 13765477 |
| **Communications Equipment — 0.1%** |  |  |  |
| Cisco Systems, Inc., 5.50%, 2/24/55 |  | 2629000 | 2591747 |
| **Construction Materials — 0.2%** |  |  |  |
| CRH America Finance, Inc., 5.50%, 1/9/35 |  | 1900000 | 1929887 |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> |  | 1785000 | 1796569 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> |  | 2506000 | 2517567 |
| Vulcan Materials Co., 5.70%, 12/1/54 |  | 775000 | 741506 |
|  |  |  | 6985529 |
| **Consumer Finance — 0.7%** |  |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 |  | 4953000 | 5487776 |
| Avolon Holdings Funding Ltd., 6.375%, 5/4/28<sup>(1)</sup> |  | 535000 | 551863 |
| Avolon Holdings Funding Ltd., 5.15%, 1/15/30<sup>(1)</sup> |  | 1042000 | 1030725 |
| Bread Financial Holdings, Inc., VRN, 8.375%, 6/15/35<sup>(1)</sup> |  | 2582000 | 2417429 |
| Encore Capital Group, Inc., 9.25%, 4/1/29<sup>(1)</sup> |  | 4396000 | 4645869 |
| OneMain Finance Corp., 7.125%, 3/15/26 |  | 1926000 | 1944422 |
| OneMain Finance Corp., 7.50%, 5/15/31 |  | 1534000 | 1557263 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> |  | 3584000 | 3695571 |
|  |  |  | 21330918 |
| **Consumer Staples Distribution & Retail — 0.3%** |  |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 3.25%, 3/15/26<sup>(1)</sup> |  | 6226000 | 6117072 |
| Walgreens Boots Alliance, Inc., 3.45%, 6/1/26 |  | 1478000 | 1445646 |
| Walmart, Inc., 4.90%, 4/28/35 |  | 666000 | 674885 |
|  |  |  | 8237603 |
| **Containers and Packaging — 0.0%** |  |  |  |
| Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 2/1/26 |  | 1283000 | 1276826 |
| **Diversified Consumer Services — 0.0%** |  |  |  |
| Leland Stanford Junior University, 4.68%, 3/1/35 |  | 500000 | 492357 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| **Diversified REITs — 0.9%** |  |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 |  | $388000 | $338902 |
| American Assets Trust LP, 6.15%, 10/1/34 |  | 2197000 | 2156435 |
| Boston Properties LP, 2.55%, 4/1/32 |  | 6175000 | 5085375 |
| Cousins Properties LP, 5.375%, 2/15/32 |  | 1972000 | 1955994 |
| Highwoods Realty LP, 4.20%, 4/15/29 |  | 2332000 | 2226559 |
| Kilroy Realty LP, 2.50%, 11/15/32 |  | 765000 | 592408 |
| Kilroy Realty LP, 2.65%, 11/15/33 |  | 2191000 | 1656399 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28 |  | 3694000 | 4002690 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 |  | 681000 | 694647 |
| Piedmont Operating Partnership LP, 3.15%, 8/15/30 |  | 533000 | 456051 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> |  | 2097000 | 1945575 |
| Trust Fibra Uno, 7.70%, 1/23/32<sup>(1)</sup> |  | 2753000 | 2815518 |
| Ventas Realty LP, 5.00%, 1/15/35 |  | 1132000 | 1093702 |
|  |  |  | 25020255 |
| **Diversified Telecommunication Services — 0.4%** |  |  |  |
| AT&T, Inc., 6.375%, 3/1/41 |  | 250000 | 258959 |
| AT&T, Inc., 5.45%, 3/1/47 |  | 1200000 | 1113721 |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(1)</sup> |  | 5970000 | 6335847 |
| Sprint Capital Corp., 6.875%, 11/15/28 |  | 2999000 | 3208521 |
| Verizon Communications, Inc., 2.99%, 10/30/56 |  | 2115000 | 1258097 |
|  |  |  | 12175145 |
| **Electric Utilities — 1.7%** |  |  |  |
| AES Andes SA, 6.25%, 3/14/32<sup>(1)</sup> |  | 1666000 | 1667759 |
| Arizona Public Service Co., 5.70%, 8/15/34 |  | 1106000 | 1123461 |
| Black Hills Corp., 6.00%, 1/15/35 |  | 785000 | 811483 |
| Chile Electricity Lux MPC II SARL, 5.67%, 10/20/35<sup>(1)</sup> |  | 583000 | 584541 |
| Comision Federal de Electricidad, 6.45%, 1/24/35<sup>(1)</sup> |  | 2889000 | 2772186 |
| Commonwealth Edison Co., 5.30%, 2/1/53 |  | 967000 | 898687 |
| Duke Energy Corp., 5.00%, 8/15/52 |  | 1475000 | 1262900 |
| Duke Energy Corp., 5.80%, 6/15/54 |  | 1515000 | 1453477 |
| Duke Energy Progress LLC, 4.35%, 3/6/27 |  | 2632000 | 2653391 |
| Duke Energy Progress LLC, 4.15%, 12/1/44 |  | 745000 | 608667 |
| Duke Energy Progress LLC, 5.55%, 3/15/55 |  | 1635000 | 1581858 |
| E.ON International Finance BV, Series 11121, 4.75%, 1/31/34 | GBP | 1000000 | 1275288 |
| Electricite de France SA, 6.375%, 1/13/55<sup>(1)</sup> |  | $2350000 | 2326791 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 |  | 7780000 | 7809980 |
| Florida Power & Light Co., 4.125%, 2/1/42 |  | 2515000 | 2122906 |
| MidAmerican Energy Co., 5.85%, 9/15/54 |  | 4515000 | 4571449 |
| Nevada Power Co., VRN, 6.25%, 5/15/55 |  | 1257000 | 1239137 |
| NextEra Energy Capital Holdings, Inc., 5.30%, 3/15/32 |  | 1190000 | 1215071 |
| Northern States Power Co., 5.10%, 5/15/53 |  | 1035000 | 944613 |
| Northern States Power Co., 5.65%, 5/15/55<sup>(2)</sup> |  | 1284000 | 1274113 |
| NRG Energy, Inc., 2.00%, 12/2/25<sup>(1)</sup> |  | 2540000 | 2493445 |
| Pacific Gas & Electric Co., 4.20%, 6/1/41 |  | 545000 | 421426 |
| Palomino Funding Trust I, 7.23%, 5/17/28<sup>(1)</sup> |  | 1895000 | 2000647 |
| PECO Energy Co., 4.375%, 8/15/52 |  | 1370000 | 1123039 |
| Public Service Electric & Gas Co., 5.50%, 3/1/55 |  | 1033000 | 1005540 |
| SSE PLC, 8.375%, 11/20/28 | GBP | 1000000 | 1500293 |
| Union Electric Co., 5.45%, 3/15/53 |  | $1045000 | 995235 |
| Vistra Operations Co. LLC, 6.00%, 4/15/34<sup>(1)</sup> |  | 555000 | 561119 |
|  |  |  | 48298502 |
| **Electronic Equipment, Instruments and Components — 0.0%** |  |  |  |
| Keysight Technologies, Inc., 5.35%, 7/30/30 |  | 1169000 | 1200470 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| **Energy Equipment and Services — 0.1%** |  |  |  |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(1)</sup> |  | $3446000 | $3536547 |
| **Entertainment — 0.0%** |  |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 |  | 1149000 | 1118492 |
| **Financial Services — 1.6%** |  |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> |  | 2485000 | 2479139 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> |  | 950000 | 956690 |
| Atlas Warehouse Lending Co. LP, 6.25%, 1/15/30<sup>(1)</sup> |  | 4142000 | 4154052 |
| BPCE SFH SA, 0.125%, 12/3/30 | EUR | 3000000 | 2962164 |
| Cie de Financement Foncier SA, 1.20%, 4/29/31 | EUR | 3300000 | 3432764 |
| Corebridge Financial, Inc., 5.75%, 1/15/34 |  | $610000 | 622285 |
| Corebridge Financial, Inc., VRN, 6.375%, 9/15/54 |  | 1072000 | 1035463 |
| Credit Agricole Public Sector SCF SA, 0.125%, 12/8/32 | EUR | 1000000 | 956210 |
| Credit Agricole Public Sector SCF SA, 0.125%, 12/8/32 | EUR | 1000000 | 955442 |
| Essent Group Ltd., 6.25%, 7/1/29 |  | $3085000 | 3166045 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> |  | 2980000 | 3038304 |
| Nationwide Building Society, 6.125%, 8/21/28 | GBP | 1000000 | 1396172 |
| Nationwide Building Society, 5.13%, 7/29/29<sup>(1)</sup> |  | $2670000 | 2718747 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> |  | 1725000 | 1678035 |
| NMI Holdings, Inc., 6.00%, 8/15/29 |  | 3500000 | 3544485 |
| PayPal Holdings, Inc., 5.10%, 4/1/35 |  | 3735000 | 3720078 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> |  | 4675000 | 4758313 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> |  | 3428000 | 3427502 |
| Voya Financial, Inc., 5.00%, 9/20/34 |  | 2421000 | 2317034 |
|  |  |  | 47318924 |
| **Food Products — 0.6%** |  |  |  |
| Flowers Foods, Inc., 5.75%, 3/15/35 |  | 3025000 | 3054326 |
| JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group, 5.95%, 4/20/35<sup>(1)</sup> |  | 1305000 | 1344253 |
| Kraft Heinz Foods Co., 5.00%, 6/4/42 |  | 1120000 | 1014633 |
| Mars, Inc., 5.20%, 3/1/35<sup>(1)</sup> |  | 4264000 | 4282541 |
| Mars, Inc., 3.875%, 4/1/39<sup>(1)</sup> |  | 436000 | 376178 |
| Mars, Inc., 5.65%, 5/1/45<sup>(1)</sup> |  | 2550000 | 2534202 |
| Mars, Inc., 5.70%, 5/1/55<sup>(1)</sup> |  | 1493000 | 1472733 |
| Minerva Luxembourg SA, 8.875%, 9/13/33<sup>(1)</sup> |  | 4455000 | 4755124 |
|  |  |  | 18833990 |
| **Gas Utilities — 0.1%** |  |  |  |
| Boston Gas Co., 5.84%, 1/10/35<sup>(1)</sup> |  | 573000 | 590476 |
| Eastern Energy Gas Holdings LLC, 5.65%, 10/15/54 |  | 592000 | 557891 |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)(2)</sup> |  | 986000 | 1002601 |
|  |  |  | 2150968 |
| **Ground Transportation — 0.1%** |  |  |  |
| Ashtead Capital, Inc., 5.95%, 10/15/33<sup>(1)</sup> |  | 1948000 | 1971906 |
| Burlington Northern Santa Fe LLC, 5.20%, 4/15/54 |  | 1160000 | 1087511 |
|  |  |  | 3059417 |
| **Health Care Equipment and Supplies — 0.2%** |  |  |  |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> |  | 5768000 | 5819353 |
| **Health Care Providers and Services — 0.9%** |  |  |  |
| Cardinal Health, Inc., 5.35%, 11/15/34 |  | 2215000 | 2224581 |
| CVS Health Corp., 6.00%, 6/1/44 |  | 1640000 | 1589716 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 |  | 2748000 | 2786605 |
| HCA, Inc., 6.20%, 3/1/55 |  | 1060000 | 1039775 |
| Humana, Inc., 5.75%, 4/15/54 |  | 843000 | 773934 |
| Icon Investments Six DAC, 6.00%, 5/8/34 |  | 1196000 | 1195082 |
| IQVIA, Inc., 5.00%, 5/15/27<sup>(1)</sup> |  | 1605000 | 1593527 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| IQVIA, Inc., 6.25%, 2/1/29 |  | $1715000 | $1783670 |
| Kaiser Foundation Hospitals, 3.00%, 6/1/51 |  | 505000 | 322541 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)</sup> |  | 2576000 | 2573374 |
| Tenet Healthcare Corp., 5.125%, 11/1/27 |  | 4943000 | 4905909 |
| Tenet Healthcare Corp., 6.125%, 10/1/28 |  | 1855000 | 1851908 |
| UnitedHealth Group, Inc., 5.50%, 7/15/44 |  | 1601000 | 1554314 |
| UnitedHealth Group, Inc., 5.05%, 4/15/53 |  | 1755000 | 1552850 |
| Universal Health Services, Inc., 5.05%, 10/15/34 |  | 1720000 | 1607370 |
|  |  |  | 27355156 |
| **Hotels, Restaurants and Leisure — 1.1%** |  |  |  |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> |  | 3868000 | 3574683 |
| Carnival Corp., 4.00%, 8/1/28<sup>(1)</sup> |  | 2450000 | 2338390 |
| Expedia Group, Inc., 5.40%, 2/15/35 |  | 3144000 | 3096813 |
| Hyatt Hotels Corp., 5.75%, 3/30/32 |  | 2611000 | 2617588 |
| International Game Technology PLC, 5.25%, 1/15/29<sup>(1)</sup> |  | 5930000 | 5803143 |
| Light & Wonder International, Inc., 7.00%, 5/15/28<sup>(1)</sup> |  | 2190000 | 2192444 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> |  | 4005000 | 4087131 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> |  | 6857000 | 6880608 |
|  |  |  | 30590800 |
| **Household Durables — 0.2%** |  |  |  |
| Dr. Horton, Inc., 4.85%, 10/15/30<sup>(2)</sup> |  | 2059000 | 2068854 |
| KB Home, 4.80%, 11/15/29 |  | 1658000 | 1601846 |
| Meritage Homes Corp., 5.65%, 3/15/35 |  | 2048000 | 1999770 |
|  |  |  | 5670470 |
| **Independent Power and Renewable Electricity Producers — 0.4%** |  |  |  |
| AES Corp., VRN, 6.95%, 7/15/55 |  | 1620000 | 1514845 |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41<sup>(1)</sup> |  | 4709764 | 4680328 |
| Saavi Energia SARL, 8.875%, 2/10/35<sup>(1)</sup> |  | 4015000 | 4040093 |
|  |  |  | 10235266 |
| **Industrial Conglomerates — 0.1%** |  |  |  |
| Siemens Financieringsmaatschappij NV, 1.20%, 3/11/26<sup>(1)</sup> |  | 2050000 | 1997690 |
| **Industrial REITs — 0.0%** |  |  |  |
| LXP Industrial Trust, 6.75%, 11/15/28 |  | 1204000 | 1280508 |
| **Insurance — 0.8%** |  |  |  |
| Allstate Corp., 5.55%, 5/9/35 |  | 753000 | 774147 |
| American International Group, Inc., 4.375%, 6/30/50 |  | 848000 | 690934 |
| American International Group, Inc., VRN, 5.75%, 4/1/48 |  | 536000 | 529587 |
| Athene Global Funding, 5.53%, 7/11/31<sup>(1)</sup> |  | 1363000 | 1385716 |
| Beacon Funding Trust, 6.27%, 8/15/54<sup>(1)</sup> |  | 2535000 | 2481825 |
| CNO Financial Group, Inc., 6.45%, 6/15/34 |  | 1765000 | 1822819 |
| Credit Agricole Assurances SA, VRN, 4.75%, 9/27/48 | EUR | 1100000 | 1294805 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 |  | $476000 | 485388 |
| F&G Annuities & Life, Inc., 6.25%, 10/4/34 |  | 628000 | 606219 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> |  | 2535000 | 2394982 |
| Lincoln National Corp., 7.00%, 6/15/40 |  | 2670000 | 2953817 |
| MetLife, Inc., 6.40%, 12/15/66 |  | 985000 | 975723 |
| Prudential Financial, Inc., VRN, 6.50%, 3/15/54 |  | 1525000 | 1533600 |
| Reinsurance Group of America, Inc., VRN, 6.65%, 9/15/55 |  | 1021000 | 991873 |
| Rothesay Life PLC, 7.73%, 5/16/33 | GBP | 2500000 | 3555479 |
|  |  |  | 22476914 |
| **Interactive Media and Services — 0.1%** |  |  |  |
| Snap, Inc., 6.875%, 3/1/33<sup>(1)</sup> |  | $2379000 | 2378002 |
| **IT Services — 0.2%** |  |  |  |
| Genpact Luxembourg SARL/Genpact USA, Inc., 6.00%, 6/4/29 |  | 1731000 | 1793406 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| Kyndryl Holdings, Inc., 3.15%, 10/15/31 |  | $2325000 | $2041657 |
| Kyndryl Holdings, Inc., 4.10%, 10/15/41 |  | 764000 | 576309 |
|  |  |  | 4411372 |
| **Machinery — 0.4%** |  |  |  |
| AGCO Corp., 5.80%, 3/21/34 |  | 1096000 | 1089431 |
| Chart Industries, Inc., 7.50%, 1/1/30<sup>(1)</sup> |  | 6900000 | 7167296 |
| Nordson Corp., 4.50%, 12/15/29 |  | 1720000 | 1706767 |
| Weir Group PLC, 5.35%, 5/6/30<sup>(1)(2)</sup> |  | 2675000 | 2688453 |
|  |  |  | 12651947 |
| **Marine Transportation — 0.1%** |  |  |  |
| Yinson Boronia Production BV, 8.95%, 7/31/42<sup>(1)</sup> |  | 2728718 | 2803758 |
| **Media — 1.2%** |  |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> |  | 7275000 | 7181594 |
| Comcast Corp., 5.65%, 6/1/54 |  | 4210000 | 4067963 |
| Lamar Media Corp., 3.75%, 2/15/28 |  | 4045000 | 3862702 |
| Nexstar Media, Inc., 5.625%, 7/15/27<sup>(1)</sup> |  | 6020000 | 5969017 |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(1)</sup> |  | 8220000 | 8006213 |
| TEGNA, Inc., 4.75%, 3/15/26<sup>(1)</sup> |  | 6348000 | 6276316 |
|  |  |  | 35363805 |
| **Metals and Mining — 0.6%** |  |  |  |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> |  | 3676000 | 3560605 |
| CSN Inova Ventures, 6.75%, 1/28/28<sup>(1)</sup> |  | 5235000 | 4888413 |
| Glencore Funding LLC, 5.19%, 4/1/30<sup>(1)</sup> |  | 3800000 | 3848809 |
| Glencore Funding LLC, 5.89%, 4/4/54<sup>(1)</sup> |  | 885000 | 835656 |
| Newmont Corp./Newcrest Finance Pty. Ltd., 5.35%, 3/15/34 |  | 1599000 | 1626736 |
| Rio Tinto Finance USA PLC, 5.75%, 3/14/55 |  | 2105000 | 2079146 |
|  |  |  | 16839365 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** |  |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/1/25<sup>(1)</sup> |  | 3785000 | 3771073 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 6/15/29<sup>(1)</sup> |  | 5045000 | 4833967 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> |  | 6490000 | 6674673 |
|  |  |  | 15279713 |
| **Multi-Utilities — 0.2%** |  |  |  |
| Dominion Energy, Inc., 4.90%, 8/1/41 |  | 2430000 | 2138185 |
| Engie SA, 5.875%, 4/10/54<sup>(1)</sup> |  | 1750000 | 1703107 |
| Sempra, 3.25%, 6/15/27 |  | 925000 | 899249 |
| WEC Energy Group, Inc., 5.60%, 9/12/26 |  | 201000 | 203809 |
|  |  |  | 4944350 |
| **Oil, Gas and Consumable Fuels — 2.5%** |  |  |  |
| 3R Lux SARL, 9.75%, 2/5/31<sup>(1)</sup> |  | 3219000 | 3161654 |
| BP Capital Markets America, Inc., 3.06%, 6/17/41 |  | 905000 | 652537 |
| Cheniere Energy, Inc., 4.625%, 10/15/28 |  | 1540000 | 1525707 |
| Columbia Pipelines Holding Co. LLC, 5.68%, 1/15/34<sup>(1)</sup> |  | 1805000 | 1788230 |
| Columbia Pipelines Operating Co. LLC, 6.04%, 11/15/33<sup>(1)</sup> |  | 1440000 | 1488707 |
| Diamondback Energy, Inc., 6.25%, 3/15/33 |  | 1020000 | 1065723 |
| Encino Acquisition Partners Holdings LLC, 8.75%, 5/1/31<sup>(1)</sup> |  | 3330000 | 3394977 |
| Energy Transfer LP, 6.55%, 12/1/33 |  | 2290000 | 2412186 |
| Energy Transfer LP, 6.125%, 12/15/45 |  | 1345000 | 1273399 |
| Eni SpA, 4.25%, 5/19/33 | EUR | 3000000 | 3572581 |
| Eni SpA, 5.95%, 5/15/54<sup>(1)</sup> |  | $1389000 | 1309259 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> |  | 6406000 | 6458696 |
| Expand Energy Corp., 5.375%, 3/15/30 |  | 3906000 | 3881693 |
| Geopark Ltd., 8.75%, 1/31/30<sup>(1)</sup> |  | 4140000 | 3583473 |
| Greensaif Pipelines Bidco SARL, 5.85%, 2/23/36<sup>(1)</sup> |  | 2634000 | 2654558 |

---

------

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount/Shares** | **Value** |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | $2475000 | $2386996 |
| Northern Natural Gas Co., 5.625%, 2/1/54<sup>(1)</sup> | 615000 | 581816 |
| Occidental Petroleum Corp., 5.375%, 1/1/32 | 1629000 | 1551077 |
| Occidental Petroleum Corp., 6.45%, 9/15/36 | 640000 | 624121 |
| Petroleos Mexicanos, 6.49%, 1/23/27 | 4444000 | 4345035 |
| Petroleos Mexicanos, 6.50%, 3/13/27 | 8387000 | 8199858 |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 11527000 | 10661767 |
| SM Energy Co., 6.75%, 9/15/26 | 4022000 | 3989060 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 2571000 | 2645862 |
|  |  | 73208972 |
| **Paper and Forest Products — 0.1%** |  |  |
| Louisiana-Pacific Corp., 3.625%, 3/15/29<sup>(1)</sup> | 2524000 | 2360868 |
| **Passenger Airlines — 1.0%** |  |  |
| Air Canada, 3.875%, 8/15/26<sup>(1)</sup> | 9222000 | 9056419 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 6281991 | 6245367 |
| Grupo Aeromexico SAB de CV, 8.25%, 11/15/29<sup>(1)</sup> | 4875000 | 4570312 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 3967000 | 3887660 |
| Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 6/20/27<sup>(1)</sup> | 4439920 | 4457453 |
|  |  | 28217211 |
| **Pharmaceuticals — 0.1%** |  |  |
| Bristol-Myers Squibb Co., 5.50%, 2/22/44 | 615000 | 603448 |
| Bristol-Myers Squibb Co., 5.55%, 2/22/54 | 1475000 | 1422207 |
|  |  | 2025655 |
| **Professional Services — 0.2%** |  |  |
| Paychex, Inc., 5.10%, 4/15/30 | 2428000 | 2465166 |
| Paychex, Inc., 5.35%, 4/15/32 | 3225000 | 3277206 |
|  |  | 5742372 |
| **Real Estate Management and Development — 0.0%** |  |  |
| Essential Properties LP, 2.95%, 7/15/31 | 771000 | 665398 |
| **Semiconductors and Semiconductor Equipment — 0.5%** |  |  |
| Broadcom, Inc., 5.20%, 4/15/32 | 875000 | 889584 |
| Foundry JV Holdco LLC, 5.50%, 1/25/31<sup>(1)</sup> | 2455000 | 2487887 |
| Foundry JV Holdco LLC, 5.90%, 1/25/33<sup>(1)</sup> | 847000 | 864628 |
| Foundry JV Holdco LLC, 5.875%, 1/25/34<sup>(1)</sup> | 730000 | 733807 |
| Foundry JV Holdco LLC, 6.10%, 1/25/36<sup>(1)</sup> | 1141000 | 1163854 |
| Foundry JV Holdco LLC, 6.30%, 1/25/39<sup>(1)</sup> | 947000 | 984175 |
| Intel Corp., 3.90%, 3/25/30 | 2090000 | 1995796 |
| Intel Corp., 5.15%, 2/21/34 | 1065000 | 1037706 |
| Intel Corp., 5.70%, 2/10/53 | 940000 | 838122 |
| Intel Corp., 5.60%, 2/21/54 | 881000 | 778034 |
| Micron Technology, Inc., 5.30%, 1/15/31 | 3345000 | 3361466 |
|  |  | 15135059 |
| **Software — 0.5%** |  |  |
| AppLovin Corp., 5.375%, 12/1/31 | 1400000 | 1413641 |
| Oracle Corp., 5.25%, 2/3/32 | 1806000 | 1831843 |
| Oracle Corp., 3.60%, 4/1/40 | 2533000 | 1975823 |
| Oracle Corp., 6.00%, 8/3/55 | 1190000 | 1158610 |
| Oracle Corp., 5.50%, 9/27/64 | 820000 | 728386 |
| Synopsys, Inc., 5.00%, 4/1/32 | 5402000 | 5442312 |
| Synopsys, Inc., 5.70%, 4/1/55 | 2150000 | 2079851 |
|  |  | 14630466 |
| **Specialized REITs — 0.2%** |  |  |
| Crown Castle, Inc., 5.20%, 9/1/34 | 1051000 | 1031614 |
| EPR Properties, 4.95%, 4/15/28 | 2250000 | 2224727 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| EPR Properties, 3.75%, 8/15/29 |  | $835000 | $781855 |
| VICI Properties LP, 5.75%, 4/1/34 |  | 310000 | 311952 |
| VICI Properties LP/VICI Note Co., Inc., 4.125%, 8/15/30<sup>(1)</sup> |  | 2765000 | 2610644 |
|  |  |  | 6960792 |
| **Specialty Retail — 0.1%** |  |  |  |
| Beacon Roofing Supply, Inc., 6.75%, 4/30/32<sup>(1)</sup> |  | 1620000 | 1628240 |
| Home Depot, Inc., 5.30%, 6/25/54 |  | 985000 | 936171 |
|  |  |  | 2564411 |
| **Technology Hardware, Storage and Peripherals — 0.0%** |  |  |  |
| Dell International LLC/EMC Corp., 5.30%, 4/1/32 |  | 1377000 | 1380754 |
| **Textiles, Apparel and Luxury Goods — 0.0%** |  |  |  |
| Tapestry, Inc., 5.50%, 3/11/35 |  | 978000 | 952976 |
| **Trading Companies and Distributors — 0.1%** |  |  |  |
| Aircastle Ltd., 5.95%, 2/15/29<sup>(1)</sup> |  | 305000 | 313096 |
| Aircastle Ltd./Aircastle Ireland DAC, 5.75%, 10/1/31<sup>(1)</sup> |  | 308000 | 311343 |
| Fortress Transportation & Infrastructure Investors LLC, 7.00%, 6/15/32<sup>(1)</sup> |  | 2212000 | 2243859 |
|  |  |  | 2868298 |
| **Wireless Telecommunication Services — 0.3%** |  |  |  |
| U.S. Cellular Corp., 6.70%, 12/15/33 |  | 3853000 | 4176357 |
| Vmed O2 U.K. Financing I PLC, 4.00%, 1/31/29<sup>(1)</sup> | GBP | 3000000 | 3693247 |
|  |  |  | 7869604 |
| **TOTAL CORPORATE BONDS**<br>(Cost $837,412,323) |  |  | **842102401** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 21.9%** |  |  |  |
| **Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities — 0.0%** |  |  |  |
| FNMA, VRN, 3.18%, (1-year RFUCC plus 1.61%), 3/1/47 |  | $521130 | 512005 |
| FNMA, VRN, 3.10%, (1-year RFUCC plus 1.61%), 4/1/47 |  | 312123 | 306261 |
|  |  |  | 818266 |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 21.9%** |  |  |  |
| FHLMC, 2.00%, 6/1/36 |  | 4532943 | 4163711 |
| FHLMC, 6.00%, 2/1/38 |  | 570 | 598 |
| FHLMC, 3.50%, 2/1/49 |  | 7064058 | 6484616 |
| FHLMC, 3.50%, 5/1/50 |  | 4591616 | 4185816 |
| FHLMC, 2.50%, 10/1/50 |  | 5717131 | 4763169 |
| FHLMC, 2.50%, 5/1/51 |  | 157245 | 132340 |
| FHLMC, 3.50%, 5/1/51 |  | 9624322 | 8743723 |
| FHLMC, 2.00%, 8/1/51 |  | 17521379 | 14036474 |
| FHLMC, 3.00%, 12/1/51 |  | 5897562 | 5146250 |
| FHLMC, 3.50%, 5/1/52 |  | 903137 | 816899 |
| FHLMC, 3.50%, 5/1/52 |  | 300923 | 274204 |
| FHLMC, 4.00%, 5/1/52 |  | 314816 | 294148 |
| FHLMC, 5.00%, 8/1/52 |  | 6432052 | 6352706 |
| FHLMC, 4.50%, 10/1/52 |  | 5107229 | 4895821 |
| FHLMC, 6.00%, 11/1/52 |  | 5692453 | 5798025 |
| FHLMC, 6.00%, 1/1/53 |  | 4375316 | 4460218 |
| FHLMC, 6.00%, 8/1/53 |  | 5481056 | 5625321 |
| FHLMC, 6.50%, 11/1/53 |  | 5366339 | 5552977 |
| FHLMC, 5.50%, 4/1/54 |  | 10469114 | 10524359 |
| FNMA, 2.00%, 5/1/36 |  | 5337255 | 4913182 |
| FNMA, 3.50%, 10/1/40 |  | 690706 | 647260 |
| FNMA, 4.50%, 9/1/41 |  | 4954 | 4900 |
| FNMA, 3.50%, 5/1/42 |  | 14638 | 13716 |
| FNMA, 4.00%, 2/1/46 |  | 98825 | 93784 |
| FNMA, 4.00%, 3/1/50 |  | 7051941 | 6578896 |
| FNMA, 2.50%, 6/1/50 |  | 8655272 | 7301242 |

---

------

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount/Shares** | **Value** |
| FNMA, 2.50%, 10/1/50 | $5627693 | $4710852 |
| FNMA, 2.50%, 12/1/50 | 6990792 | 5822983 |
| FNMA, 2.50%, 2/1/51 | 1165003 | 981830 |
| FNMA, 4.00%, 3/1/51 | 9436704 | 8895485 |
| FNMA, 2.50%, 12/1/51 | 5661889 | 4773828 |
| FNMA, 2.50%, 2/1/52 | 2264711 | 1897805 |
| FNMA, 3.00%, 2/1/52 | 5560263 | 4873138 |
| FNMA, 2.50%, 3/1/52 | 14357866 | 12086876 |
| FNMA, 3.00%, 4/1/52 | 15449402 | 13620976 |
| FNMA, 3.50%, 4/1/52 | 189780 | 171536 |
| FNMA, 3.00%, 5/1/52 | 248324 | 219551 |
| FNMA, 3.50%, 5/1/52 | 9142531 | 8289794 |
| FNMA, 3.50%, 5/1/52 | 5690891 | 5156356 |
| FNMA, 3.50%, 5/1/52 | 629411 | 570292 |
| FNMA, 3.50%, 5/1/52 | 571110 | 523411 |
| FNMA, 4.00%, 5/1/52 | 6863831 | 6412900 |
| FNMA, 3.00%, 6/1/52 | 13868209 | 12154439 |
| FNMA, 3.00%, 6/1/52 | 95636 | 84555 |
| FNMA, 5.00%, 8/1/52 | 2680346 | 2634580 |
| FNMA, 4.50%, 9/1/52 | 6008224 | 5788390 |
| FNMA, 5.00%, 10/1/52 | 10291640 | 10180290 |
| FNMA, 5.50%, 10/1/52 | 4155575 | 4159854 |
| FNMA, 5.00%, 1/1/53 | 11725190 | 11521310 |
| FNMA, 5.50%, 1/1/53 | 4979672 | 4991431 |
| FNMA, 6.50%, 1/1/53 | 7099846 | 7354738 |
| FNMA, 5.50%, 3/1/53 | 12249133 | 12348574 |
| FNMA, 4.50%, 6/1/53 | 12227169 | 11836793 |
| FNMA, 4.50%, 8/1/53 | 13778933 | 13297989 |
| FNMA, 6.00%, 9/1/53 | 4503499 | 4588669 |
| FNMA, 6.00%, 9/1/53 | 4360196 | 4468849 |
| FNMA, 5.50%, 3/1/54 | 12535358 | 12543421 |
| FNMA, 6.00%, 5/1/54 | 5976748 | 6085729 |
| FNMA, 4.00%, 3/1/51 | 7333820 | 6913269 |
| GNMA, 2.50%, TBA | 17047000 | 14531217 |
| GNMA, 5.00%, TBA | 4485000 | 4400506 |
| GNMA, 5.50%, TBA | 32200000 | 32192829 |
| GNMA, 6.00%, 7/15/33 | 1364 | 1404 |
| GNMA, 4.50%, 10/15/39 | 1750 | 1717 |
| GNMA, 5.00%, 10/15/39 | 3240 | 3276 |
| GNMA, 4.50%, 1/15/40 | 2610 | 2562 |
| GNMA, 4.00%, 12/15/40 | 2818 | 2663 |
| GNMA, 4.50%, 12/15/40 | 8849 | 8671 |
| GNMA, 3.50%, 6/20/42 | 1609735 | 1499937 |
| GNMA, 3.00%, 5/20/50 | 1094648 | 973459 |
| GNMA, 3.00%, 7/20/50 | 2899006 | 2575998 |
| GNMA, 2.50%, 2/20/51 | 6379414 | 5443531 |
| GNMA, 3.50%, 6/20/51 | 2488865 | 2275171 |
| GNMA, 3.00%, 7/20/51 | 8446967 | 7489309 |
| GNMA, 2.00%, 12/20/51 | 15661343 | 12792391 |
| GNMA, 4.00%, 9/20/52 | 9967931 | 9322786 |
| GNMA, 4.50%, 9/20/52 | 4614893 | 4447178 |
| GNMA, 4.50%, 10/20/52 | 10210663 | 9839589 |
| UMBS, 5.00%, TBA | 119108000 | 116612759 |
| UMBS, 5.50%, TBA | 72356000 | 72211105 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| UMBS, 4.00%, TBA |  | $15935000 | $14852668 |
|  |  |  | 633245574 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES**<br>(Cost $636,130,512) |  |  | **634063840** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 21.2%** |  |  |  |
| **Australia — 1.7%** |  |  |  |
| Australia Government Bonds, 3.00%, 11/21/33 | AUD | 7325000 | 4346650 |
| Australia Government Bonds, 3.75%, 5/21/34 | AUD | 8250000 | 5161832 |
| Australia Government Bonds, 3.50%, 12/21/34 | AUD | 20000000 | 12200431 |
| Australia Government Bonds, 1.75%, 6/21/51 | AUD | 8600000 | 3003415 |
| New South Wales Treasury Corp., 1.50%, 2/20/32 | AUD | 5800000 | 3104748 |
| New South Wales Treasury Corp., 2.00%, 3/8/33 | AUD | 6000000 | 3210809 |
| Queensland Treasury Corp., 4.50%, 8/22/35<sup>(1)</sup> | AUD | 18850000 | 11684489 |
| Treasury Corp. of Victoria, 4.25%, 12/20/32 | AUD | 3600000 | 2266479 |
| Treasury Corp. of Victoria, 2.25%, 9/15/33 | AUD | 6900000 | 3675237 |
|  |  |  | 48654090 |
| **Austria — 1.9%** |  |  |  |
| Republic of Austria Government Bonds, 3.45%, 10/20/30<sup>(1)</sup> | EUR | 46000000 | 55246115 |
| **Belgium — 2.0%** |  |  |  |
| Kingdom of Belgium Government Bonds, 2.85%, 10/22/34<sup>(1)</sup> | EUR | 19500000 | 22036095 |
| Kingdom of Belgium Government Bonds, 5.00%, 3/28/35<sup>(1)</sup> | EUR | 18000000 | 23947436 |
| Kingdom of Belgium Government Bonds, 4.25%, 3/28/41<sup>(1)</sup> | EUR | 3716000 | 4607002 |
| Kingdom of Belgium Government Bonds, 1.60%, 6/22/47<sup>(1)</sup> | EUR | 5586000 | 4373435 |
| Kingdom of Belgium Government Bonds, 3.30%, 6/22/54<sup>(1)</sup> | EUR | 1450000 | 1506094 |
|  |  |  | 56470062 |
| **Brazil — 0.1%** |  |  |  |
| Brazil Government International Bonds, 6.125%, 3/15/34 |  | $4000000 | 3929217 |
| **Canada — 0.9%** |  |  |  |
| Canada Government Bonds, 2.00%, 12/1/51 | CAD | 2180000 | 1188342 |
| Canada Housing Trust No. 1, 3.10%, 6/15/28<sup>(1)</sup> | CAD | 28540000 | 20994890 |
| Province of Quebec, 3.50%, 12/1/48 | CAD | 7300000 | 4565915 |
|  |  |  | 26749147 |
| **China — 4.0%** |  |  |  |
| China Government Bonds, 2.64%, 1/15/28 | CNY | 129000000 | 18307167 |
| China Government Bonds, 2.54%, 12/25/30 | CNY | 277000000 | 40107747 |
| China Government Bonds, 2.67%, 11/25/33 | CNY | 88000000 | 13063075 |
| China Government Bonds, 2.67%, 11/25/33 | CNY | 50000000 | 7422040 |
| China Government Bonds, 3.81%, 9/14/50 | CNY | 57000000 | 10831508 |
| China Government Bonds, 2.19%, 9/25/54 | CNY | 118000000 | 17478877 |
| China Government Bonds, 2.19%, 9/25/54 | CNY | 48000000 | 7110922 |
|  |  |  | 114321336 |
| **Colombia — 0.2%** |  |  |  |
| Colombia Government International Bonds, 8.50%, 4/25/35 |  | $2770000 | 2817696 |
| Colombia Government International Bonds, 8.00%, 11/14/35 |  | 880000 | 865093 |
| Colombia TES, 7.00%, 6/30/32 | COP | 11500000000 | 2118325 |
|  |  |  | 5801114 |
| **Czech Republic — 0.2%** |  |  |  |
| Czech Republic Government Bonds, 0.25%, 2/10/27 | CZK | 138700000 | 5994479 |
| **Denmark — 0.2%** |  |  |  |
| Denmark Government Bonds, 0.50%, 11/15/29 | DKK | 35000000 | 5013163 |
| **Germany — 1.0%** |  |  |  |
| Bundesrepublik Deutschland Bundesanleihe, 6.25%, 1/4/30 | EUR | 8000000 | 10798132 |
| Bundesrepublik Deutschland Bundesanleihe, 0.00%, 2/15/30<sup>(3)</sup> | EUR | 10000000 | 10340178 |
| Bundesrepublik Deutschland Bundesanleihe, 1.25%, 8/15/48 | EUR | 1200000 | 997130 |
| Bundesrepublik Deutschland Bundesanleihe, 0.00%, 8/15/50<sup>(3)</sup> | EUR | 3600000 | 2039959 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| Bundesrepublik Deutschland Bundesanleihe, 1.80%, 8/15/53 | EUR | 6660000 | $6036296 |
|  |  |  | 30211695 |
| **Indonesia — 0.4%** |  |  |  |
| Indonesia Treasury Bonds, 6.625%, 2/15/34 | IDR | 181530000000 | 10811035 |
| **Israel — 0.1%** |  |  |  |
| Israel Government Bonds - Fixed, 2.80%, 11/29/52 | ILS | 10000000 | 1988490 |
| **Italy — 0.8%** |  |  |  |
| Italy Buoni Poliennali Del Tesoro, 0.60%, 8/1/31<sup>(1)</sup> | EUR | 1000000 | 992781 |
| Italy Buoni Poliennali Del Tesoro, 2.50%, 12/1/32 | EUR | 6500000 | 7104137 |
| Italy Buoni Poliennali Del Tesoro, 4.20%, 3/1/34 | EUR | 3000000 | 3629989 |
| Italy Buoni Poliennali Del Tesoro, 1.80%, 3/1/41<sup>(1)</sup> | EUR | 1500000 | 1277916 |
| Italy Buoni Poliennali Del Tesoro, 4.75%, 9/1/44<sup>(1)</sup> | EUR | 7519000 | 9314761 |
| Italy Buoni Poliennali Del Tesoro, 1.70%, 9/1/51<sup>(1)</sup> | EUR | 500000 | 350800 |
|  |  |  | 22670384 |
| **Japan — 3.9%** |  |  |  |
| Japan Government Forty Year Bonds, 1.40%, 3/20/55 | JPY | 125000000 | 650674 |
| Japan Government Thirty Year Bonds, 2.40%, 3/20/37 | JPY | 231950000 | 1772013 |
| Japan Government Thirty Year Bonds, 2.00%, 9/20/41 | JPY | 1234500000 | 8628782 |
| Japan Government Thirty Year Bonds, 1.40%, 12/20/45 | JPY | 1673400000 | 10064053 |
| Japan Government Thirty Year Bonds, 0.40%, 3/20/50 | JPY | 700000000 | 3035056 |
| Japan Government Thirty Year Bonds, 0.70%, 6/20/51 | JPY | 716000000 | 3260034 |
| Japan Government Thirty Year Bonds, 0.70%, 9/20/51 | JPY | 1350000000 | 6110377 |
| Japan Government Thirty Year Bonds, 0.70%, 12/20/51 | JPY | 1790000000 | 8057744 |
| Japan Government Thirty Year Bonds, 1.00%, 3/20/52 | JPY | 297300000 | 1451079 |
| Japan Government Thirty Year Bonds, 1.30%, 6/20/52 | JPY | 380000000 | 2000986 |
| Japan Government Thirty Year Bonds, 1.60%, 12/20/52 | JPY | 300000000 | 1690333 |
| Japan Government Thirty Year Bonds, 1.40%, 3/20/53 | JPY | 657000000 | 3510323 |
| Japan Government Thirty Year Bonds, 1.20%, 6/20/53 | JPY | 1853500000 | 9353930 |
| Japan Government Thirty Year Bonds, 1.80%, 9/20/53 | JPY | 1000000000 | 5860861 |
| Japan Government Thirty Year Bonds, 1.80%, 3/20/54 | JPY | 1120000000 | 6525212 |
| Japan Government Thirty Year Bonds, 2.20%, 6/20/54 | JPY | 680000000 | 4338150 |
| Japan Government Twenty Year Bonds, 0.60%, 9/20/37 | JPY | 1222000000 | 7586063 |
| Japan Government Twenty Year Bonds, 0.50%, 6/20/38 | JPY | 931000000 | 5600450 |
| Japan Government Twenty Year Bonds, 0.70%, 9/20/38 | JPY | 906000000 | 5566254 |
| Japan Government Twenty Year Bonds, 0.30%, 12/20/39 | JPY | 1078800000 | 6059016 |
| Japan Government Twenty Year Bonds, 0.50%, 12/20/41 | JPY | 831000000 | 4567694 |
| Japan Government Twenty Year Bonds, 1.10%, 9/20/42 | JPY | 835000000 | 5015022 |
| Japan Government Twenty Year Bonds, 1.10%, 6/20/43 | JPY | 500000000 | 2963420 |
|  |  |  | 113667526 |
| **Jordan — 0.1%** |  |  |  |
| Jordan Government International Bonds, 5.85%, 7/7/30<sup>(1)</sup> |  | $4800000 | 4436928 |
| **Malaysia — 0.3%** |  |  |  |
| Malaysia Government Bonds, 4.70%, 10/15/42 | MYR | 31900000 | 8141153 |
| **Mexico — 0.3%** |  |  |  |
| Mexico Bonos, 7.75%, 5/29/31 | MXN | 158230000 | 7635665 |
| **New Zealand — 0.1%** |  |  |  |
| New Zealand Government Bonds, 1.75%, 5/15/41 | NZD | 6040000 | 2342723 |
| **Norway — 0.0%** |  |  |  |
| Norway Government Bonds, 1.75%, 2/17/27<sup>(1)</sup> | NOK | 2800000 | 261014 |
| **Panama — 0.4%** |  |  |  |
| Panama Government International Bonds, 6.875%, 1/31/36 |  | $12618000 | 12222676 |
| **Peru — 0.0%** |  |  |  |
| Peru Government International Bonds, 8.75%, 11/21/33 |  | 500000 | 607437 |
| **Poland — 0.1%** |  |  |  |
| Republic of Poland Government Bonds, 1.75%, 4/25/32 | PLN | 16300000 | 3542278 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br>**Amount/Shares** | **Value** |
| **Saudi Arabia — 0.8%** |  |  |  |
| Saudi Government International Bonds, 4.75%, 1/16/30<sup>(1)</sup> |  | $6800000 | $6837485 |
| Saudi Government International Bonds, 3.375%, 3/5/32<sup>(1)</sup> | EUR | 14250000 | 16208177 |
|  |  |  | 23045662 |
| **Singapore — 0.1%** |  |  |  |
| Singapore Government Bonds, 2.875%, 7/1/29 | SGD | 4240000 | 3346182 |
| **Spain — 0.3%** |  |  |  |
| Spain Government Bonds, 1.85%, 7/30/35<sup>(1)</sup> | EUR | 2200000 | 2230144 |
| Spain Government Bonds, 2.70%, 10/31/48<sup>(1)</sup> | EUR | 7100000 | 6735617 |
|  |  |  | 8965761 |
| **Sweden — 0.2%** |  |  |  |
| Sweden Government Bonds, 1.75%, 11/11/33 | SEK | 29000000 | 2905698 |
| Sweden Government Bonds, 3.50%, 3/30/39 | SEK | 15600000 | 1809222 |
|  |  |  | 4714920 |
| **Thailand — 0.3%** |  |  |  |
| Thailand Government Bonds, 1.59%, 12/17/35 | THB | 306000000 | 8874247 |
| **United Kingdom — 0.8%** |  |  |  |
| U.K. Gilts, 1.75%, 9/7/37 | GBP | 12500000 | 12211004 |
| U.K. Gilts, 4.50%, 12/7/42 | GBP | 954000 | 1199356 |
| U.K. Gilts, 4.25%, 12/7/49 | GBP | 3720000 | 4337776 |
| U.K. Gilts, 4.25%, 12/7/55 | GBP | 3780000 | 4329554 |
|  |  |  | 22077690 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $658,271,837) |  |  | **611742189** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 9.3%** |  |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 8.9%** |  |  |  |
| Chase Home Lending Mortgage Trust, Series 2024-10, Class A4, VRN, 6.00%, 10/25/55<sup>(1)</sup> |  | $9187347 | 9278954 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> |  | 3451286 | 3486166 |
| Chase Home Lending Mortgage Trust, Series 2024-3, Class A4, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> |  | 8952997 | 9036888 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> |  | 9993342 | 10014715 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> |  | 4317301 | 4320743 |
| Citigroup Mortgage Loan Trust, Series 2024-1, Class A7A, VRN, 6.00%, 7/25/54<sup>(1)</sup> |  | 8541618 | 8671464 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> |  | 14172853 | 14190302 |
| Deephaven Residential Mortgage Trust, Series 2020-2, Class B1, VRN, 6.40%, 5/25/65<sup>(1)</sup> |  | 4482000 | 4548345 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> |  | 12902356 | 12968347 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ5, Class A15, SEQ, VRN, 6.00%, 9/25/54<sup>(1)</sup> |  | 9469087 | 9550996 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ7, Class A7, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> |  | 12978433 | 12970288 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(1)</sup> |  | 10619450 | 10658104 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> |  | 8488034 | 8492107 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> |  | 6397672 | 6400216 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A4, VRN, 6.00%, 4/25/55<sup>(1)</sup> |  | 13197390 | 13331347 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> |  | 5560448 | 5604444 |
| JP Morgan Mortgage Trust, Series 2024-12, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> |  | 8467354 | 8573562 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> |  | 6431258 | 6457907 |
| JP Morgan Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 1/25/55<sup>(1)</sup> |  | 9761888 | 9791478 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> |  | 7758618 | 7862466 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2023-4, Class A4, VRN, 6.00%, 11/25/53<sup>(1)</sup> |  | 4188004 | 4203424 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-3, Class A2, VRN, 6.00%, 7/25/54<sup>(1)</sup> |  | 6023744 | 6054869 |
| OBX Trust, Series 2024-J1, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> |  | 5834012 | 5841864 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A3, VRN, 5.50%, 12/25/54<sup>(1)</sup> |  | 12338702 | 12348848 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> |  | 3285740 | 3288464 |
| Rate Mortgage Trust, Series 2025-J1, Class A4, VRN, 6.00%, 3/25/55<sup>(1)</sup> |  | 7807590 | 7891014 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> |  | 3827087 | 3826918 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> |  | 5098511 | 5100545 |
| Sequoia Mortgage Trust, Series 2024-8, Class A11, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> |  | 10151169 | 10145949 |

---

------

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount/Shares** | **Value** |
| Sequoia Mortgage Trust, Series 2024-8, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | $12099828 | $12104071 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 7715269 | 7747000 |
| Verus Securitization Trust, Series 2023-8, Class A2, 6.66%, 12/25/68<sup>(1)</sup> | 2557314 | 2585715 |
|  |  | 257347520 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.4%** |  |  |
| FNMA, Series 2022-R09, Class 2M1, VRN, 6.85%, (30-day average SOFR plus 2.50%), 9/25/42<sup>(1)</sup> | 1558635 | 1579915 |
| FNMA, Series 2023-R05, Class 1M1, VRN, 6.25%, (30-day average SOFR plus 1.90%), 6/25/43<sup>(1)</sup> | 5644893 | 5689262 |
| FNMA, Series 2024-R01, Class 1M1, VRN, 5.40%, (30-day average SOFR plus 1.05%), 1/25/44<sup>(1)</sup> | 4346009 | 4333579 |
|  |  | 11602756 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $267,653,099) |  | **268950276** |
| **CONVERTIBLE PREFERRED SECURITIES — 8.7%** |  |  |
| **Banks — 7.7%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 8350000 | 8449590 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 3800000 | 3661793 |
| Banco de Sabadell SA, 5.00% | 3000000 | 3380335 |
| Banco Santander SA, 4.125% | 1000000 | 1103113 |
| Banco Santander SA, 4.375% | 2000000 | 2255968 |
| Banco Santander SA, 4.75% | 12800000 | 12107117 |
| Barclays PLC, 6.125% | 11505000 | 11452190 |
| Barclays PLC, 6.375% | 2500000 | 3349488 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 11756000 | 11138393 |
| BNP Paribas SA, 7.375% | 2400000 | 2933086 |
| Commerzbank AG, 6.125% | 10000000 | 11485148 |
| Cooperatieve Rabobank UA, 3.10% | 1200000 | 1269359 |
| Cooperatieve Rabobank UA, 3.25% | 3400000 | 3762621 |
| Credit Agricole SA, 7.25% | 3000000 | 3625263 |
| Credit Agricole SA, 8.125%<sup>(1)</sup> | 9335000 | 9462619 |
| Danske Bank AS, 4.375% | 11100000 | 10877167 |
| Erste Group Bank AG, 4.25% | 4000000 | 4371444 |
| HSBC Holdings PLC, 6.00% | 11350000 | 11232371 |
| ING Groep NV, 5.75% | 11435000 | 11257636 |
| Intesa Sanpaolo SpA, 5.875% | 1000000 | 1138251 |
| Intesa Sanpaolo SpA, 7.70%<sup>(1)</sup> | 13810000 | 13887505 |
| La Banque Postale SA, 3.875% | 2000000 | 2225361 |
| Lloyds Banking Group PLC, 7.50% | 11230000 | 11223533 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 3588000 | 3573490 |
| NatWest Group PLC, 5.125% | 2000000 | 2572475 |
| NatWest Group PLC, 6.00% | 3990000 | 3975397 |
| NatWest Group PLC, 8.00% | 7155000 | 7180229 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 14035000 | 14073709 |
| Skandinaviska Enskilda Banken AB, 6.875% | 6000000 | 6086250 |
| Societe Generale SA, 4.75%<sup>(1)</sup> | 10572000 | 10220532 |
| Societe Generale SA, 7.875% | 2000000 | 2398056 |
| Standard Chartered PLC, 6.00%<sup>(1)</sup> | 9340000 | 9344038 |
| UniCredit SpA, 3.875% | 4200000 | 4615853 |
| UniCredit SpA, 5.375% | 3500000 | 3991939 |
|  |  | 223681319 |
| **Capital Markets — 0.7%** |  |  |
| Deutsche Bank AG, 6.00% | 7800000 | 7658329 |
| Deutsche Bank AG, 8.13% | 1800000 | 1785353 |
| UBS Group AG, 5.125% | 10725000 | 10577085 |
|  |  | 20020767 |
| **Insurance — 0.3%** |  |  |
| Allianz SE, 3.50%<sup>(1)</sup> | 3400000 | 3273212 |

---

------

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount/Shares** | **Value** |
| CNP Assurances SACA, 4.75% | 3500000 | $3985269 |
|  |  | 7258481 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $244,811,407) |  | **250960567** |
| **PREFERRED SECURITIES — 2.5%** |  |  |
| **Banks — 0.9%** |  |  |
| Bank of Nova Scotia, 4.90% | 8315000 | 8300824 |
| Citigroup, Inc., 3.875% | 5515000 | 5377442 |
| Citizens Financial Group, Inc., 5.65% | 3063000 | 3047613 |
| Comerica, Inc., 5.625% | 6780000 | 6740073 |
| Fifth Third Bancorp, 4.50% | 2490000 | 2463467 |
| M&T Bank Corp., 5.125% | 163000 | 158262 |
|  |  | 26087681 |
| **Capital Markets — 0.2%** |  |  |
| Charles Schwab Corp., 4.00% | 5899000 | 5719897 |
| Charles Schwab Corp., 5.375% | 85000 | 84931 |
|  |  | 5804828 |
| **Consumer Finance — 0.1%** |  |  |
| American Express Co., 3.55% | 3800000 | 3645465 |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Telefonica Europe BV, 2.88% | 2000000 | 2221661 |
| **Electric Utilities — 0.2%** |  |  |
| Edison International, 5.00% | 4537000 | 4024978 |
| Edison International, 5.375% | 1602000 | 1505550 |
|  |  | 5530528 |
| **Insurance — 0.2%** |  |  |
| Markel Group, Inc., 6.00% | 5180000 | 5169262 |
| **Multi-Utilities — 0.2%** |  |  |
| Sempra, 4.875% | 5975000 | 5910370 |
| **Oil, Gas and Consumable Fuels — 0.4%** |  |  |
| BP Capital Markets PLC, 4.375% | 3500000 | 3484988 |
| Energy Transfer LP, 6.50% | 4047000 | 4029167 |
| Eni SpA, 3.375% | 3700000 | 4069061 |
|  |  | 11583216 |
| **Trading Companies and Distributors — 0.3%** |  |  |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 8255000 | 8041304 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $73,581,217) |  | **73994315** |
| **COLLATERALIZED LOAN OBLIGATIONS — 2.5%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.79%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | $3087687 | 3079548 |
| Cerberus Loan Funding XXXIX LP, Series 2022-3A, Class AR, VRN, 5.66%, (3-month SOFR plus 1.40%), 1/15/33<sup>(1)</sup> | 5097534 | 5110307 |
| Dryden 65 CLO Ltd., Series 2018-65A, Class C, VRN, 6.63%, (3-month SOFR plus 2.36%), 7/18/30<sup>(1)</sup> | 6800000 | 6809511 |
| Elmwood CLO 24 Ltd., Series 2023-3A, Class CR, VRN, 6.03%, (3-month SOFR plus 1.75%), 1/17/38<sup>(1)</sup> | 7625000 | 7465092 |
| KKR CLO 18 Ltd., Series 2018, Class CR, VRN, 6.63%, (3-month SOFR plus 2.36%), 7/18/30<sup>(1)</sup> | 2975000 | 2978553 |
| LoanCore Issuer Ltd., Series 2021-CRE5, Class AS, VRN, 6.19%, (1-month SOFR plus 1.86%), 7/15/36<sup>(1)</sup> | 4999500 | 4982729 |
| Magnetite XLI Ltd., Series 2024-41A, Class B, VRN, 5.91%, (3-month SOFR plus 1.60%), 1/25/38<sup>(1)</sup> | 8750000 | 8681749 |
| Magnetite XLI Ltd., Series 2024-41A, Class C, VRN, 6.09%, (3-month SOFR plus 1.78%), 1/25/38<sup>(1)</sup> | 3525000 | 3457962 |
| Magnetite XXV Ltd., Series 2020-25A, Class C, VRN, 6.64%, (3-month SOFR plus 2.36%), 1/25/32<sup>(1)</sup> | 5200000 | 5207613 |
| Magnetite XXVIII Ltd., Series 2020-28A, Class CRR, VRN, 6.01%, (3-month SOFR plus 1.75%), 1/15/38<sup>(1)</sup> | 7975000 | 7808555 |
| MF1 Ltd., Series 2020-FL4, Class A, VRN, 6.14%, (1-month SOFR plus 1.81%), 12/15/35<sup>(1)</sup> | 1525443 | 1526570 |
| Mountain View CLO LLC, Series 2017-2A, Class B, VRN, 6.22%, (3-month SOFR plus 1.96%), 1/16/31<sup>(1)</sup> | 3750000 | 3759000 |
| Octagon Investment Partners XV Ltd., Series 2013-1A, Class CRR, VRN, 6.53%, (3-month SOFR plus 2.26%), 7/19/30<sup>(1)</sup> | 4500000 | 4501171 |
| Reese Park CLO Ltd., Series 2020-1A, Class CRR, VRN, 6.16%, (3-month SOFR plus 1.90%), 1/15/38<sup>(1)</sup> | 8100000 | 8023436 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $73,445,133) |  | **73391796** |

---

------

---

| | | |
|:---|:---|:---|
| <br>**ASSET-BACKED SECURITIES — 2.3%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| Aligned Data Centers Issuer LLC, Series 2021-1A, Class A2, SEQ, 1.94%, 8/15/46<sup>(1)</sup> | $2600000 | $2494585 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class A, SEQ, 2.44%, 7/15/46<sup>(1)</sup> | 3307849 | 3078780 |
| Capital Automotive REIT, Series 2024-2A, Class A2, SEQ, 5.25%, 5/15/54<sup>(1)</sup> | 6796224 | 6762125 |
| Cologix Data Centers U.S. Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.30%, 12/26/51<sup>(1)</sup> | 1746000 | 1664319 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> | 6300000 | 6101395 |
| Diamond Resorts Owner Trust, Series 2021-1A, Class B, 2.05%, 11/21/33<sup>(1)</sup> | 836291 | 826527 |
| Enterprise Fleet Financing LLC, Series 2024-1, Class A2, SEQ, 5.23%, 3/20/30<sup>(1)</sup> | 5095868 | 5137198 |
| FirstKey Homes Trust, Series 2020-SFR1, Class C, 1.94%, 8/17/37<sup>(1)</sup> | 4057000 | 4006926 |
| Flexential Issuer, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(1)</sup> | 8675000 | 8279476 |
| Goodgreen Trust, Series 2018-1A, Class A, VRN, 3.93%, 10/15/53<sup>(1)</sup> | 1096231 | 1020955 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 12500000 | 11378333 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> | 5800000 | 5951760 |
| Sierra Timeshare Receivables Funding LLC, Series 2021-8, Class D, 3.17%, 11/20/37<sup>(1)</sup> | 335953 | 328337 |
| Stack Infrastructure Issuer LLC, Series 2021-1A, Class A2, SEQ, 1.88%, 3/26/46<sup>(1)</sup> | 3634000 | 3525423 |
| Switch ABS Issuer LLC, Series 2024-2A, Class A2, SEQ, 5.44%, 6/25/54<sup>(1)</sup> | 4800000 | 4772423 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $63,152,218) |  | **65328562** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.2%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | 2505000 | 2017902 |
| BBCMS Mortgage Trust, Series 2019-C3, Class D, 3.00%, 5/15/52<sup>(1)</sup> | 3000000 | 2247691 |
| BBCMS Mortgage Trust, Series 2019-C4, Class D, 3.25%, 8/15/52<sup>(1)</sup> | 3359000 | 2010254 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class AS, SEQ, VRN, 6.41%, 7/15/57 | 10991000 | 11511642 |
| Benchmark Mortgage Trust, Series 2019-B13, Class D, 2.50%, 8/15/57<sup>(1)</sup> | 2514000 | 1395860 |
| Benchmark Mortgage Trust, Series 2020-B16, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 5544000 | 4002843 |
| Benchmark Mortgage Trust, Series 2021-B31, Class D, 2.25%, 12/15/54<sup>(1)</sup> | 2618000 | 1652284 |
| BX Trust, Series 2018-GW, Class A, VRN, 5.42%, (1-month SOFR plus 1.10%), 5/15/35<sup>(1)</sup> | 5057000 | 5042566 |
| GS Mortgage Securities Trust, Series 2019-GC42, Class D, 2.80%, 9/10/52<sup>(1)</sup> | 5175784 | 3663590 |
| GS Mortgage Securities Trust, Series 2019-GSA1, Class E, 2.80%, 11/10/52<sup>(1)</sup> | 5990000 | 4485242 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 2392000 | 1994942 |
| Morgan Stanley Capital I Trust, Series 2018-L1, Class D, 3.00%, 10/15/51<sup>(1)</sup> | 4192000 | 3413236 |
| ONNI Commerical Mortgage Trust, Series 2024-APT, Class A, SEQ, VRN, 5.75%, 7/15/39<sup>(1)</sup> | 11242000 | 11524091 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.31%, 12/15/51<sup>(1)</sup> | 2008000 | 1774072 |
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, SEQ, VRN, 6.13%, 3/15/40<sup>(1)</sup> | 4250000 | 4275231 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C41, Class D, VRN, 2.60%, 11/15/50<sup>(1)</sup> | 2067000 | 1731820 |
| Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 2458000 | 1577531 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $62,449,823) |  | **64320797** |
| **U.S. TREASURY SECURITIES — 1.0%** |  |  |
| U.S. Treasury Notes, 5.00%, 8/31/25<sup>(4)</sup><br>(Cost $28,373,958) | 28342000 | **28398588** |
| **MUNICIPAL SECURITIES — 0.4%** |  |  |
| California State University Rev., 2.98%, 11/1/51  | 825000 | 537289 |
| Commonwealth of Massachusetts GO, 2.66%, 9/1/39  | 243243 | 200224 |
| Escambia County Health Facilities Authority Rev., (Baptist Hospital, Inc. Obligated Group), 3.61%, 8/15/40 (AGM) | 725000 | 578710 |
| Golden State Tobacco Securitization Corp. Rev., 2.75%, 6/1/34  | 2125000 | 1818489 |
| Los Angeles Community College District GO, 6.75%, 8/1/49  | 800000 | 891612 |
| Los Angeles Department of Airports Rev., 6.58%, 5/15/39  | 255000 | 273967 |
| Michigan Strategic Fund Rev., (Flint Water Advocacy Fund), 3.23%, 9/1/47  | 1600000 | 1195954 |
| Missouri Highway & Transportation Commission Rev., 5.45%, 5/1/33  | 275000 | 280916 |
| New Jersey Turnpike Authority Rev., 7.10%, 1/1/41  | 270000 | 308971 |
| Ohio Turnpike & Infrastructure Commission Rev., 3.22%, 2/15/48  | 830000 | 602655 |
| Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51  | 450000 | 416862 |
| Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60  | 450000 | 284670 |

---

------

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount/Shares** | **Value** |
| State of California GO, 4.60%, 4/1/28, Prerefunded at 100% of Par<sup>(5)</sup> | $120000 | $121973 |
| State of California GO, 7.60%, 11/1/40  | 20000 | 24304 |
| Sumter Landing Community Development District Rev., 5.57%, 10/1/40 (AGC) | 470000 | 474712 |
| Sumter Landing Community Development District Rev., 5.74%, 10/1/45 (AGC) | 710000 | 712825 |
| Sumter Landing Community Development District Rev., 5.82%, 10/1/54 (AGC) | 1295000 | 1301814 |
| Texas Natural Gas Securitization Finance Corp. Rev., SEQ, 5.17%, 4/1/41  | 230000 | 232320 |
| United Nations Development Corp. Rev., (City of New York), Series A, 6.54%, 8/1/55  | 455000 | 472517 |
| University of California Rev., 3.07%, 5/15/51  | 670000 | 448529 |
| **TOTAL MUNICIPAL SECURITIES**<br>(Cost $13,212,180) |  | **11179313** |
| **EXCHANGE-TRADED FUNDS — 0.3%** |  |  |
| Invesco Senior Loan ETF<br>(Cost $8,860,859) | 418674 | **8674925** |
| **U.S. GOVERNMENT AGENCY SECURITIES — 0.1%** |  |  |
| FHLMC, 6.25%, 7/15/32<br>(Cost $2,500,086) | $2000000 | **2276393** |
| **BANK LOAN OBLIGATIONS**<sup>(6)</sup> **— 0.1%** |  |  |
| **Aerospace and Defense — 0.1%** |  |  |
| TransDigm, Inc., 2024 Term Loan I, 7.05%, (3-month SOFR plus 2.75%), 8/24/28<br>(Cost $1,828,694) | 1818814 | **1818587** |
| **SHORT-TERM INVESTMENTS — 7.0%** |  |  |
| **Commercial Paper**<sup>(7)</sup> **— 4.2%** |  |  |
| Lion Bay Funding LLC, 4.44%, 5/1/25<sup>(1)</sup> | 80000000 | 79990384 |
| Overwatch Alpha Funding LLC, 4.45%, 5/1/25<sup>(1)</sup> | 41325000 | 41320020 |
|  |  | 121310404 |
| **Money Market Funds — 0.1%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class<sup>(8)</sup> | 3013220 | 3013220 |
| **Repurchase Agreements — 2.7%** |  |  |
| BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 8/15/29, valued at $8,655,065), in a joint trading account at 4.32%, dated 4/30/25, due 5/1/25 (Delivery value $8,483,777) |  | 8482759 |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.50%, 5/15/27, valued at $69,212,147), at 4.36%, dated 4/30/25, due 5/1/25 (Delivery value $67,863,218) |  | 67855000 |
|  |  | 76337759 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $200,675,979) |  | **200661383** |
| **TOTAL INVESTMENT SECURITIES — 108.6%**<br>(Cost $3,172,359,325) |  | **3137863932** |
| **OTHER ASSETS AND LIABILITIES — (8.6)%** |  | **(247799993)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**2890063939** |

---

------

**FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 46598399 | AUD | 74270126 | Morgan Stanley | 6/18/25 | $(999864) |
| USD | 34882373 | CAD | 50015257 | Morgan Stanley | 6/18/25 | (1484985) |
| USD | 111851677 | CNY | 806730224 | JPMorgan Chase Bank N.A. | 5/30/25 | (155894) |
| USD | 2330892 | COP | 9818765948 | Goldman Sachs & Co. | 6/18/25 | 21844 |
| USD | 5796000 | CZK | 132377503 | Morgan Stanley | 6/18/25 | (219947) |
| USD | 4879668 | DKK | 33227605 | Morgan Stanley | 6/18/25 | (179657) |
| EUR | 6625807 | USD | 7455147 | Bank of America N.A. | 6/18/25 | 71177 |
| EUR | 2097889 | USD | 2389042 | Bank of America N.A. | 6/18/25 | (6028) |
| EUR | 2194885 | USD | 2500482 | Citibank N.A. | 6/18/25 | (7289) |
| EUR | 5422605 | USD | 5872066 | Goldman Sachs & Co. | 6/18/25 | 287527 |
| EUR | 8052765 | USD | 8724070 | Morgan Stanley | 6/18/25 | 423150 |
| USD | 344193609 | EUR | 316368668 | Citibank N.A. | 6/18/25 | (15172864) |
| USD | 17156276 | EUR | 15733480 | JPMorgan Chase Bank N.A. | 6/18/25 | (715548) |
| USD | 756504 | GBP | 568069 | Bank of America N.A. | 6/18/25 | (697) |
| USD | 68390727 | GBP | 52914038 | Morgan Stanley | 6/18/25 | (2140409) |
| USD | 1456289 | GBP | 1126068 | Morgan Stanley | 6/18/25 | (44690) |
| USD | 10876279 | IDR | 179714198789 | Morgan Stanley | 6/18/25 | 36461 |
| USD | 1992702 | ILS | 7252265 | UBS AG | 6/18/25 | (2481) |
| JPY | 265034770 | USD | 1771882 | Bank of America N.A. | 6/18/25 | 91584 |
| USD | 114363723 | JPY | 16816503814 | Morgan Stanley | 6/18/25 | (3873497) |
| USD | 661498 | JPY | 93945136 | Morgan Stanley | 6/18/25 | 967 |
| USD | 7329545 | MXN | 151097817 | JPMorgan Chase Bank N.A. | 6/18/25 | (329978) |
| USD | 8012153 | MYR | 35201050 | Morgan Stanley | 6/18/25 | (159920) |
| USD | 2247969 | NZD | 3929411 | Morgan Stanley | 6/18/25 | (89423) |
| USD | 3373857 | PLN | 13028550 | UBS AG | 6/18/25 | (68850) |
| USD | 4560114 | SEK | 45788596 | Morgan Stanley | 6/18/25 | (189878) |
| USD | 3238517 | SGD | 4290478 | Bank of America N.A. | 6/18/25 | (54521) |
| USD | 8560752 | THB | 287529970 | Citibank N.A. | 6/18/25 | (74100) |
| USD | 22265311 | ZAR | 409206857 | Citibank N.A. | 6/18/25 | 341983 |
| ZAR | 386768327 | USD | 21093355 | JPMorgan Chase Bank N.A. | 6/18/25 | (372175) |
|  |  |  |  |  |  | $(25068002) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional Amount** | **Unrealized Appreciation <br>(Depreciation)^** |
| Australian 10-Year Government Bonds | 716 | June 2025 | $52730053 | $1443207 |
| Euro-Bund 10-Year Bonds | 923 | June 2025 | 137791938 | 866349 |
| Euro-OAT 10-Year Bonds | 930 | June 2025 | 132368145 | 946725 |
| Japanese 10-Year Government Bonds | 25 | June 2025 | 24592600 | 478843 |
| Japanese 10-Year Mini Government Bonds | 174 | June 2025 | 17116450 | 306707 |
| Korean Treasury 10-Year Bonds | 490 | June 2025 | 41823215 | 674935 |
| U.K. Gilt 10-Year Bonds | 1011 | June 2025 | 126005150 | 492854 |
| U.S. Treasury 10-Year Ultra Notes | 1079 | June 2025 | 123798391 | 2461271 |
| U.S. Treasury Long Bonds | 266 | June 2025 | 31022250 | (264441) |
| U.S. Treasury Ultra Bonds | 432 | June 2025 | 52285500 | (971905) |
|  |  |  | $739533692 | $6434545 |

---

^Amount represents value and unrealized appreciation (depreciation).

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration <br>Date** | **Notional <br>Amount** | **Unrealized <br>Appreciation <br>(Depreciation)^** |
| Euro-Schatz 2-Year Bonds | 994 | June 2025 | $121129565 | $(915957) |
| U.S. Treasury 2-Year Notes | 1996 | June 2025 | 415464282 | (2790504) |
| U.S. Treasury 10-Year Notes | 1014 | June 2025 | 113789813 | (1881320) |
|  |  |  | $650383660 | $(5587781) |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** |
| **Reference Entity** | **Type**<sup>‡</sup> | **Fixed Rate <br>Received <br>(Paid)<br>Quarterly** | **Termination Date** | **Notional <br>Amount** | **Notional <br>Amount** | **Premiums Paid (Received)** | **Unrealized <br>Appreciation <br>(Depreciation)** | **Value^** |
| Markit CDX North America High Yield Index Series 44 | Sell | 5.00% | 6/20/30 |  | $20762000 | $757457 | $114984 | $872441 |
| Markit iTraxx Europe Crossover Index Series 43 | Sell | 5.00% | 6/20/30 | EUR | 37000000 | 2565532 | 378140 | 2943672 |
| Markit iTraxx Europe Senior Financial Index Series 42 | Sell | 1.00% | 12/20/29 | EUR | 52800000 | 1001117 | (40425) | 960692 |
| Markit iTraxx Europe Senior Financial Index Series 43 | Sell | 1.00% | 6/20/30 | EUR | 40000000 | 608183 | 32839 | 641022 |
|  |  |  |  |  |  | $4932289 | $485538 | $5417827 |

---

‡The maximum potential amount the fund could be required to deliver as a seller of credit protection if a credit event occurs as defined under the terms of the agreement is the notional amount. The maximum potential amount may be partially offset by any recovery values of the reference entities and upfront payments received upon entering into the agreement.

^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** | **CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS** |
| **Floating**<br>**Rate Index** | **Pay/Receive**<br>**Floating Rate**<br>**Index** <br>**Semiannually** | **Fixed**<br>**Rate** | **Termination <br>Date** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Premiums**<br>**Paid**<br>**(Received)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** | &nbsp;&nbsp;**Value** |
| 6-month BBSW | Pay | 4.53% | 1/17/35 | AUD | 10000 | $415 | $(145) | $270 |

---

------

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| AGC | – | Assured Guaranty Corp. |
| AGM | – | Assured Guaranty Municipal Corp. |
| AUD | – | Australian Dollar |
| BBSW | – | Bank Bill Swap Rates |
| CAD | – | Canadian Dollar |
| CDX | – | Credit Derivatives Indexes |
| CNY | – | Chinese Yuan |
| COP | – | Colombian Peso |
| CZK | – | Czech Koruna |
| DKK | – | Danish Krone |
| EUR | – | Euro |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| GBP | – | British Pound |
| GNMA | – | Government National Mortgage Association |
| GO | – | General Obligation |
| IDR | – | Indonesian Rupiah |
| ILS | – | Israeli Shekel |
| JPY | – | Japanese Yen |
| MXN | – | Mexican Peso |
| MYR | – | Malaysian Ringgit |
| NOK | – | Norwegian Krone |
| NZD | – | New Zealand Dollar |
| PLN | – | Polish Zloty |
| RFUCC | – | FTSE USD IBOR Consumer Cash Fallbacks |
| SEK | – | Swedish Krona |
| SEQ | – | Sequential Payer |
| SGD | – | Singapore Dollar |
| SOFR | – | Secured Overnight Financing Rate |
| TBA | – | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. |
| THB | – | Thai Baht |
| UMBS | – | Uniform Mortgage-Backed Securities |
| USD | – | United States Dollar |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
| ZAR | – | South African Rand |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $1,227,937,659, which represented 42.5% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(4)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments, forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $25,385,594.

(5)Escrowed to maturity in U.S. government securities or state and local government securities.

(6)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(7)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

(8)Includes securities purchased with cash collateral received at the custodian bank for collateral requirements on forward commitments. At the period end, the aggregate value of cash deposits received was $2,477,000.

See Notes to Financial Statements.

------

Statement of Assets and Liabilities

---

| | |
|:---|:---|
| **APRIL 30, 2025 (UNAUDITED)** | **APRIL 30, 2025 (UNAUDITED)** |
| **Assets** | **Assets** |
| Investment securities, at value (cost of $3,172,359,325) | $3137863932 |
| Cash | 1200450 |
| Receivable for investments sold | 26426069 |
| Receivable for capital shares sold | 461417 |
| Receivable for variation margin on futures contracts | 1431223 |
| Unrealized appreciation on forward foreign currency exchange contracts | 1274693 |
| Interest and dividends receivable | 26189394 |
|  | 3194847178 |
| **Liabilities** |  |
| Payable for collateral received for forward commitments | 2477000 |
| Foreign currency overdraft payable, at value (cost of $19) | 20 |
| Payable for collateral received for forward foreign currency exchange contracts | 1140000 |
| Payable for investments purchased | 273212278 |
| Payable for capital shares redeemed | 155303 |
| Payable for variation margin on futures contracts | 786904 |
| Payable for variation margin on swap agreements | 253644 |
| Unrealized depreciation on forward foreign currency exchange contracts | 26342695 |
| Accrued management fees | 411488 |
| Distribution and service fees payable | 436 |
| Accrued foreign taxes | 3471 |
|  | 304783239 |
| **Net Assets** | $2890063939 |
| **Net Assets Consist of:** |  |
| Capital paid in | $3218066259 |
| Distributable earnings (loss) | (328002320) |
|  | $2890063939 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share\*** |
| Investor Class | $358099480 | 41123904 | $8.71 |
| I Class | $190964225 | 21842760 | $8.74 |
| Y Class | $96867703 | 11063828 | $8.76 |
| A Class | $1360175 | 157288 | $8.65 |
| C Class | $63477 | 7503 | $8.46 |
| R Class | $325763 | 37926 | $8.59 |
| R5 Class | $595131 | 68137 | $8.73 |
| R6 Class | $6488008 | 742692 | $8.74 |
| G Class | $2235299977 | 255158910 | $8.76 |

---

\*Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class, for which the maximum offering price per share was $9.06 (net asset value divided by 0.955). A contingent deferred sales charge may be imposed on redemptions of A Class and C Class.

See Notes to Financial Statements.

------

Statement of Operations

---

| | |
|:---|:---|
| **FOR THE SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED)** | |
| **Investment Income (Loss)** | **Investment Income (Loss)** |
| **Income:** | |
| Interest (net of foreign taxes withheld of $12,659) | $71888891 |
| Dividends | 1099052 |
|  | 72987943 |
| **Expenses:** |  |
| Management fees | 9339415 |
| Interest expenses | 161090 |
| Distribution and service fees: |  |
| &nbsp;&nbsp;&nbsp;A Class | 1715 |
| &nbsp;&nbsp;&nbsp;C Class | 317 |
| &nbsp;&nbsp;&nbsp;R Class | 538 |
| Trustees' fees and expenses | 94649 |
|  | 9597724 |
| Fees waived - G Class | (6827015) |
|  | 2770709 |
| **Net investment income (loss)** | 70217234 |
| **Realized and Unrealized Gain (Loss)** |  |
| **Net realized gain (loss) on:** |  |
| Investment transactions (net of foreign tax expenses paid (refunded) of $1,412) | (32241538) |
| Forward foreign currency exchange contract transactions | 39726986 |
| Futures contract transactions | (15382851) |
| Swap agreement transactions | (5227313) |
| Foreign currency translation transactions | 225661 |
|  | (12899055) |
| **Change in net unrealized appreciation (depreciation) on:** |  |
| Investments (includes (increase) decrease in accrued foreign taxes of $18,191) | 48349985 |
| Forward foreign currency exchange contracts | (53808542) |
| Futures contracts | 11791499 |
| Swap agreements | 3146666 |
| Translation of assets and liabilities in foreign currencies | 198645 |
|  | 9678253 |
| **Net realized and unrealized gain (loss)** | (3220802) |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $66996432 |

---

See Notes to Financial Statements.

------

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
| **SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED) AND YEAR ENDED OCTOBER 31, 2024** | **SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED) AND YEAR ENDED OCTOBER 31, 2024** | **SIX MONTHS ENDED APRIL 30, 2025 (UNAUDITED) AND YEAR ENDED OCTOBER 31, 2024** |
| **Increase (Decrease) in Net Assets** | **April 30, 2025** | **October 31, 2024** |
| **Operations** | | |
| Net investment income (loss) | $70217234 | $136769092 |
| Net realized gain (loss) | (12899055) | (77996337) |
| Change in net unrealized appreciation (depreciation) | 9678253 | 235033512 |
| Net increase (decrease) in net assets resulting from operations | 66996432 | 293806267 |
| **Distributions to Shareholders** |  |  |
| From earnings: |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (8967054) | (9255870) |
| &nbsp;&nbsp;&nbsp;I Class | (4913386) | (4749501) |
| &nbsp;&nbsp;&nbsp;Y Class | (2510911) | (2415070) |
| &nbsp;&nbsp;&nbsp;A Class | (31512) | (32399) |
| &nbsp;&nbsp;&nbsp;C Class | (1119) | (2772) |
| &nbsp;&nbsp;&nbsp;R Class | (4445) | (3325) |
| &nbsp;&nbsp;&nbsp;R5 Class | (89177) | (155833) |
| &nbsp;&nbsp;&nbsp;R6 Class | (171980) | (188465) |
| &nbsp;&nbsp;&nbsp;G Class | (75357414) | (81644781) |
| Decrease in net assets from distributions | (92046998) | (98448016) |
| **Capital Share Transactions** |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (314225291) | 516224826 |
| **Net increase (decrease) in net assets** | (339275857) | 711583077 |
| **Net Assets** |  |  |
| Beginning of period | 3229339796 | 2517756719 |
| End of period | $2890063939 | $3229339796 |

---

See Notes to Financial Statements.

------

Notes to Financial Statements

**APRIL 30, 2025 (UNAUDITED)**

**1. Organization**

American Century International Bond Funds (the trust) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and is organized as a Massachusetts business trust. Global Bond Fund (the fund) is one fund in a series issued by the trust. The fund's investment objective is to seek long-term total return.

The fund represents a single operating segment as its operating results are monitored as a whole and the long-term asset allocation is determined in accordance with its prospectus, based on defined investment objectives executed by the fund's portfolio management team. The President of the fund serves as the chief operating decision maker (CODM). The fund's income, expenses, assets, and performance are regularly monitored and assessed by the CODM, using the information consistent with that presented in the financial statements and financial highlights.

The fund offers the Investor Class, I Class, Y Class, A Class, C Class, R Class, R5 Class, R6 Class and G Class. The A Class may incur an initial sales charge. The A Class and C Class may be subject to a contingent deferred sales charge.

**2. Significant Accounting Policies**

The following is a summary of significant accounting policies consistently followed by the fund in preparation of its financial statements. The fund is an investment company and follows accounting and reporting guidance in accordance with accounting principles generally accepted in the United States of America. This may require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from these estimates. Management evaluated the impact of events or transactions occurring through the date the financial statements were issued that would merit recognition or disclosure.

**Investment Valuations —** The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, bank loan obligations, municipal securities and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Collateralized loan obligations are valued based on discounted cash flow models that consider trade and economic data, prepayment assumptions and default projections. Commercial paper and certificates of deposit are valued using a curve-based approach that considers money market rates for specific instruments, programs, currencies and maturity points from a variety of active market makers.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred securities and convertible preferred securities with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers. Forward foreign currency exchange contracts are valued at the mean of the appropriate forward exchange rate at the close of the NYSE as provided by an independent pricing service.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

------

The valuation designee monitors for significant events occurring after the close of an investment's primary exchange but before the fund's NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

**Foreign Currency Translations —** All assets and liabilities, including investment securities and other financial instruments, initially expressed in foreign currencies are translated into U.S. dollars each day at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service. The fund may enter into spot foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of investment securities, dividend and interest income, spot foreign currency exchange contracts, and expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Net realized and unrealized foreign currency exchange gains or losses related to investment securities are a component of net realized gain (loss) on investment transactions and change in net unrealized appreciation (depreciation) on investments, respectively.

**Security Transactions —** Security transactions are accounted for as of the trade date. Net realized gains and losses are determined on the identified cost basis, which is also used for federal income tax purposes. Certain countries impose taxes on realized gains on the sale of securities registered in their country. The fund records the foreign tax expense, if any, on an accrual basis. The foreign tax expense on realized gains and unrealized appreciation reduces the net realized gain (loss) on investment transactions and net unrealized appreciation (depreciation) on investments, respectively.

**Investment Income —** Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes paydown gain (loss) and accretion of discounts and amortization of premiums. Inflation adjustments related to inflation-linked debt securities are reflected as interest income. Dividend income less foreign taxes withheld, if any, is recorded as of the ex-dividend date. Distributions received on securities that represent a return of capital or long-term capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The fund may estimate the components of distributions received that may be considered nontaxable distributions or long-term capital gain distributions for income tax purposes.

**Forward Commitments —** The fund may engage in securities transactions on a forward commitment basis. In these transactions, the securities' prices and yields are fixed on the date of the commitment. The fund may sell a to-be-announced (TBA) security and at the same time make a commitment to purchase the same security at a future date at a specified price. Conversely, the fund may purchase a TBA security and at the same time make a commitment to sell the same security at a future date at a specified price. These types of transactions are known as "TBA roll" transactions and are accounted for as purchases and sales. The fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet the purchase price.

**Repurchase Agreements —** The fund may enter into repurchase agreements with institutions that ACIM has determined are creditworthy pursuant to criteria adopted by the Board of Trustees. The fund requires that the collateral, represented by securities, received in a repurchase transaction be transferred to the custodian in a manner sufficient to enable the fund to obtain those securities in the event of a default under the repurchase agreement. ACIM monitors, on a daily basis, the securities transferred to ensure the value, including accrued interest, of the securities under each repurchase agreement is equal to or greater than amounts owed to the fund under each repurchase agreement.

**Joint Trading Account —** Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the fund, along with certain other funds in the American Century Investments family of funds, may transfer uninvested cash balances into a joint trading account. These balances are invested in one or more repurchase agreements that are collateralized by U.S. Treasury or Agency obligations.

**Income Tax Status —** It is the fund's policy to distribute substantially all net investment income and net realized gains to shareholders and to otherwise qualify as a regulated investment company under provisions of the Internal Revenue Code. Accordingly, no provision has been made for income taxes. The fund files U.S. federal, state, local and non-U.S. tax returns as applicable. The fund's tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years from the date of filing but can be longer in certain jurisdictions. At this time, management believes there are no uncertain tax positions which, based on their technical merit, would not be sustained upon examination and for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

**Multiple Class —** All shares of the fund represent an equal pro rata interest in the net assets of the class to which such shares belong, and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except for class specific expenses and exclusive rights to vote on matters affecting only individual classes. Income, non-class specific expenses, and realized and unrealized capital gains and losses of the fund are allocated to each class of shares based on their relative net assets.

**Distributions to Shareholders —** Distributions from net investment income, if any, are generally declared and paid quarterly, but may be paid less frequently. Distributions from net realized gains, if any, are generally declared and paid annually.

**Indemnifications —** Under the trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the fund. In addition, in the normal course of business, the fund enters into contracts that provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against a fund. The risk of material loss from such claims is considered by management to be remote.

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**3. Fees and Transactions with Related Parties**

Certain officers and trustees of the trust are also officers and/or directors of American Century Companies, Inc. (ACC). The trust's investment advisor, ACIM, the trust's distributor, American Century Investment Services, Inc. (ACIS), and the trust's transfer agent, American Century Services, LLC, are wholly owned, directly or indirectly, by ACC. Various funds issued by American Century Asset Allocation Portfolios, Inc. own, in aggregate, 51% of the shares of the fund. Related parties do not invest in the fund for the purpose of exercising management or control.

**Management Fees —** The trust has entered into a management agreement with ACIM, under which ACIM provides the fund with investment advisory and management services in exchange for a single, unified management fee (the fee) per class. The agreement provides that ACIM will pay all expenses of managing and operating the fund, except brokerage expenses, taxes, interest, fees and expenses of the independent trustees (including legal counsel fees), extraordinary expenses, and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Rule 12b-1 under the 1940 Act. The fee is computed and accrued daily based on each class's daily net assets and paid monthly in arrears. The difference in the fee among the classes is a result of their separate arrangements for non-Rule 12b-1 shareholder services. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the fund's assets, which do not vary by class. The investment advisor agreed to waive the G Class's management fee in its entirety. The investment advisor expects this waiver to remain in effect permanently and cannot terminate it without the approval of the Board of Trustees.

The annual management fee for each class is as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investor Class** | **I Class** | **Y Class** | **A Class** | **C Class** | **R Class** | **R5 Class** | **R6 Class** | **G Class** |
| 0.83% | 0.73% | 0.63% | 0.83% | 0.83% | 0.83% | 0.63% | 0.58% | 0.00%<sup>(1)</sup> |

---

(1)Effective annual management fee before waiver was 0.58%.

**Distribution and Service Fees —** The Board of Trustees has adopted a separate Master Distribution and Individual Shareholder Services Plan for each of the A Class, C Class and R Class (collectively the plans), pursuant to Rule 12b-1 of the 1940 Act. The plans provide that the A Class will pay ACIS an annual distribution and service fee of 0.25%. The plans provide that the C Class will pay ACIS an annual distribution and service fee of 1.00%, of which 0.25% is paid for individual shareholder services and 0.75% is paid for distribution services. The plans provide that the R Class will pay ACIS an annual distribution and service fee of 0.50%. The fees are computed and accrued daily based on each class's daily net assets and paid monthly in arrears. The fees are used to pay financial intermediaries for distribution and individual shareholder services. Fees incurred under the plans during the period ended April 30, 2025 are detailed in the Statement of Operations.

**Trustees' Fees and Expenses —** The Board of Trustees is responsible for overseeing the investment advisor's management and operations of the fund. The trustees receive detailed information about the fund and its investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The fund's officers do not receive compensation from the fund.

**Interfund Transactions —** The fund may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Trustees. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. There were no interfund transactions during the period.

**4. Investment Transactions**

Purchases of investment securities, excluding short-term investments, for the period ended April 30, 2025 totaled $1,752,560,379, of which $602,323,570 represented U.S. Treasury and Government Agency obligations.

Sales of investment securities, excluding short-term investments, for the period ended April 30, 2025 totaled $1,999,108,709, of which $508,271,642 represented U.S. Treasury and Government Agency obligations.

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**5. Capital Share Transactions**

Transactions in shares of the fund were as follows (unlimited number of shares authorized):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**April 30, 2025** | **Six months ended**<br>**April 30, 2025** | **Year ended**<br>**October 31, 2024** | **Year ended**<br>**October 31, 2024** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Investor Class** | | | | |
| Sold | 459558 | $4027896 | 11642038 | $100142761 |
| Issued in reinvestment of distributions | 1035002 | 8964012 | 1074300 | 9254857 |
| Redeemed | (2059932) | (17876955) | (2634939) | (22740003) |
|  | (565372) | (4885047) | 10081399 | 86657615 |
| **I Class** |  |  |  |  |
| Sold | 810742 | 7100574 | 2436201 | 21093197 |
| Issued in reinvestment of distributions | 565045 | 4912713 | 549368 | 4748144 |
| Redeemed | (1251264) | (10873474) | (1905943) | (16619619) |
|  | 124523 | 1139813 | 1079626 | 9221722 |
| **Y Class** |  |  |  |  |
| Sold | 1478551 | 12945457 | 5260089 | 45669134 |
| Issued in reinvestment of distributions | 288406 | 2510391 | 279120 | 2415070 |
| Redeemed | (1604514) | (14060353) | (1615581) | (14071641) |
|  | 162443 | 1395495 | 3923628 | 34012563 |
| **A Class** |  |  |  |  |
| Sold | 12435 | 107221 | 23941 | 205859 |
| Issued in reinvestment of distributions | 3616 | 31113 | 3746 | 32054 |
| Redeemed | (22543) | (195221) | (24594) | (210440) |
|  | (6492) | (56887) | 3093 | 27473 |
| **C Class** |  |  |  |  |
| Sold |  |  | 1799 | 15069 |
| Issued in reinvestment of distributions | 133 | 1119 | 326 | 2736 |
| Redeemed | (3038) | (25822) | (14024) | (116998) |
|  | (2905) | (24703) | (11899) | (99193) |
| **R Class** |  |  |  |  |
| Sold | 15871 | 135746 | 20087 | 170503 |
| Issued in reinvestment of distributions | 520 | 4445 | 392 | 3325 |
| Redeemed | (2434) | (20995) | (11789) | (100280) |
|  | 13957 | 119196 | 8690 | 73548 |
| **R5 Class** |  |  |  |  |
| Sold | 2 | 9 | 728 | 6384 |
| Issued in reinvestment of distributions | 10244 | 89177 | 18047 | 155833 |
| Redeemed | (571297) | (4982380) | (91968) | (794513) |
|  | (561051) | (4893194) | (73193) | (632296) |
| **R6 Class** |  |  |  |  |
| Sold | 91461 | 797468 | 197161 | 1709096 |
| Issued in reinvestment of distributions | 19802 | 171980 | 21832 | 188465 |
| Redeemed | (173222) | (1515619) | (202624) | (1748815) |
|  | (61959) | (546171) | 16369 | 148746 |
| **G Class** |  |  |  |  |
| Sold | 8711034 | 76921989 | 82649973 | 716847635 |
| Issued in reinvestment of distributions | 8654994 | 75357414 | 9436747 | 81644781 |
| Redeemed | (52554921) | (458753196) | (47219846) | (411677768) |
|  | (35188893) | (306473793) | 44866874 | 386814648 |
| Net increase (decrease) | (36085749) | $(314225291) | 59894587 | $516224826 |

---

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**6. Fair Value Measurements**

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

• Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

• Level 3 valuation inputs consist of unobservable data (including a fund's own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.

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| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $842102401 |  |
| U.S. Government Agency Mortgage-Backed Securities |  | 634063840 |  |
| Sovereign Governments and Agencies |  | 611742189 |  |
| Collateralized Mortgage Obligations |  | 268950276 |  |
| Convertible Preferred Securities |  | 250960567 |  |
| Preferred Securities |  | 73994315 |  |
| Collateralized Loan Obligations |  | 73391796 |  |
| Asset-Backed Securities |  | 65328562 |  |
| Commercial Mortgage-Backed Securities |  | 64320797 |  |
| U.S. Treasury Securities |  | 28398588 |  |
| Municipal Securities |  | 11179313 |  |
| Exchange-Traded Funds | $8674925 |  |  |
| U.S. Government Agency Securities |  | 2276393 |  |
| Bank Loan Obligations |  | 1818587 |  |
| Short-Term Investments | 3013220 | 197648163 |  |
|  | $11688145 | $3126175787 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $2461271 | $5209620 |  |
| Swap Agreements |  | 5418097 |  |
| Forward Foreign Currency Exchange Contracts |  | 1274693 |  |
|  | $2461271 | $11902410 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $5908170 | $915957 |  |
| Forward Foreign Currency Exchange Contracts |  | 26342695 |  |
|  | $5908170 | $27258652 |  |

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**7. Derivative Instruments**

**Credit Risk —** The fund is subject to credit risk in the normal course of pursuing its investment objectives. The value of a bond generally declines as the credit quality of its issuer declines. Credit default swap agreements enable a fund to buy/sell protection against a credit event of a specific issuer or index. A fund may attempt to enhance returns by selling protection or attempt to mitigate credit risk by buying protection. The buyer/seller of credit protection against a security or basket of securities may pay/receive an up-front or periodic payment to compensate for/against potential default events. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into

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a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The risks of entering into swap agreements include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments. The fund's average notional amount held during the period was $115,037,652.

**Foreign Currency Risk —** The fund is subject to foreign currency exchange rate risk in the normal course of pursuing its investment objectives. The value of foreign investments held by a fund may be significantly affected by changes in foreign currency exchange rates. The dollar value of a foreign security generally decreases when the value of the dollar rises against the foreign currency in which the security is denominated and tends to increase when the value of the dollar declines against such foreign currency. A fund may enter into forward foreign currency exchange contracts to reduce a fund's exposure to foreign currency exchange rate fluctuations or to gain exposure to the fluctuations in the value of foreign currencies. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. The net U.S. dollar value of foreign currency underlying all contractual commitments held by a fund and the resulting unrealized appreciation or depreciation are determined daily. Realized gain or loss is recorded upon settlement of the contract. Net realized and unrealized gains or losses occurring during the holding period of forward foreign currency exchange contracts are a component of net realized gain (loss) on forward foreign currency exchange contract transactions and change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts, respectively. A fund bears the risk of an unfavorable change in the foreign currency exchange rate underlying the forward contract. Additionally, losses, up to the fair value, may arise if the counterparties do not perform under the contract terms. The fund's average U.S. dollar exposure to foreign currency risk derivative instruments held during the period was $1,150,400,566.

**Interest Rate Risk —** The fund is subject to interest rate risk in the normal course of pursuing its investment objectives. A fund may enter into futures contracts or interest rate swap agreements in order to manage its exposure to changes in market conditions. The value of bonds generally declines as interest rates rise. The risks of entering into interest rate risk derivative instruments include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments.

A fund may enter into futures contracts based on a bond index or a specific underlying security. A fund may purchase futures contracts to gain exposure to increases in market value or sell futures contracts to protect against a decline in market value. Upon entering into a futures contract, a fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the contract value and is recorded as unrealized gains and losses. A fund recognizes a realized gain or loss when the futures contract is closed or expires. Net realized and unrealized gains or losses occurring during the holding period of futures contracts are a component of net realized gain (loss) on futures contract transactions and change in net unrealized appreciation (depreciation) on futures contracts, respectively. The fund's average notional exposure to these interest rate risk derivative instruments held during the period was $671,183,879 futures contracts purchased and $407,428,739 futures contracts sold.

A fund may enter into interest rate swap agreements to gain exposure to declines in interest rates, to protect against increases in interest rates, or to maintain its ability to generate income at prevailing interest rates. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The fund's average notional amount on interest rate swap agreements held during the period was $6,269.

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Value of Derivative Instruments as of April 30, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| **Type of Risk Exposure** | **Location on Statement of Assets and Liabilities** | **Value** | **Location on Statement of Assets and Liabilities** | **Value** |
| Credit Risk | Receivable for variation margin on swap agreements\* |  | Payable for variation margin on swap agreements\* | $253384 |
| Foreign Currency Risk | Unrealized appreciation on forward foreign currency exchange contracts | $1274693 | Unrealized depreciation on forward foreign currency exchange contracts | 26342695 |
| Interest Rate Risk | Receivable for variation margin on futures contracts\* | 1431223 | Payable for variation margin on futures contracts\* | 786904 |
| Interest Rate Risk | Receivable for variation margin on swap agreements\* |  | Payable for variation margin on swap agreements\* | 260 |
|  |  | $2705916 |  | $27383243 |

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\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

Effect of Derivative Instruments on the Statement of Operations for the Six Months Ended April 30, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Net Realized Gain (Loss)** | **Net Realized Gain (Loss)** | **Change in Net Unrealized <br>Appreciation (Depreciation)** | **Change in Net Unrealized <br>Appreciation (Depreciation)** |
| **Type of Risk Exposure** | **Location on Statement of Operations** | **Value** | **Location on Statement of Operations** | **Value** |
| Credit Risk | Net realized gain (loss) on swap agreement transactions | $(5227734) | Change in net unrealized appreciation (depreciation) on swap agreements | $3146811 |
| Foreign Currency Risk | Net realized gain (loss) on forward foreign currency exchange contract transactions | 39726986 | Change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts | (53808542) |
| Interest Rate Risk | Net realized gain (loss) on futures contract transactions | (15382851) | Change in net unrealized appreciation (depreciation) on futures contracts | 11791499 |
| Interest Rate Risk | Net realized gain (loss) on swap agreement transactions | 421 | Change in net unrealized appreciation (depreciation) on swap agreements | (145) |
|  |  | $19116822 |  | $(38870377) |

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**8. Risk Factors**

The value of the fund's shares will go up and down, sometimes rapidly or unpredictably, based on the performance of the securities owned by the fund and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of the fund's investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

There are certain risks involved in investing in foreign securities. These risks include those resulting from political events (such as civil unrest, national elections and imposition of exchange controls), social and economic events (such as labor strikes and rising inflation), and natural disasters. Securities of foreign issuers may be less liquid and more volatile. Investing in emerging markets or a significant portion of assets in one country or region may accentuate these risks.

The majority of the fund is owned by a relatively small number of shareholders. To the extent that a large shareholder (including a fund of funds) invests in the fund, the fund may experience relatively large redemptions as such shareholder reallocates its assets. In the event of a large shareholder redemption, the ongoing operations of the fund may be at risk.

The fund's investment process may result in high portfolio turnover, which could mean high transaction costs, affecting both performance and capital gains tax liabilities to investors.

**9. Federal Tax Information**

The book-basis character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements.

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As of period end, the components of investments for federal income tax purposes were as follows:

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| | |
|:---|:---|
| Federal tax cost of investments | $3173210463 |
| Gross tax appreciation of investments | $58282715 |
| Gross tax depreciation of investments | (93629246) |
| Net tax appreciation (depreciation) of investments | $(35346531) |

---

As of October 31, 2024, the fund had accumulated short-term capital losses of $(87,293,127) and accumulated long-term capital losses of $(167,568,779), which represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations.

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Financial Highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| 2025<sup>(3)</sup> | $8.76 | 0.17 | —<sup>(4)</sup> | 0.17 | (0.22) |  | (0.22) | $8.71 | 1.93% | 0.85% | 0.85% | 4.00% | 4.00% | 59% | $358099 |
| 2024 | $8.18 | 0.31 | 0.49 | 0.80 | (0.22) |  | (0.22) | $8.76 | 9.83% | 0.85% | 0.85% | 3.59% | 3.59% | 103% | $365036 |
| 2023 | $8.67 | 0.25 | (0.24) | 0.01 | (0.50) |  | (0.50) | $8.18 | 0.03% | 0.81% | 0.84% | 2.96% | 2.93% | 83% | $258405 |
| 2022 | $10.43 | 0.17 | (1.60) | (1.43) | (0.26) | (0.07) | (0.33) | $8.67 | (14.05)% | 0.80% | 0.84% | 1.81% | 1.77% | 97% | $252306 |
| 2021 | $10.40 | 0.15 | (0.09) | 0.06 |  | (0.03) | (0.03) | $10.43 | 0.59% | 0.80% | 0.84% | 1.46% | 1.42% | 119% | $298790 |
| 2020 | $10.44 | 0.15 | 0.05 | 0.20 | (0.24) |  | (0.24) | $10.40 | 1.96% | 0.83% | 0.84% | 1.46% | 1.45% | 106% | $264352 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |
| 2025<sup>(3)</sup> | $8.79 | 0.18 | (0.01) | 0.17 | (0.22) |  | (0.22) | $8.74 | 2.00% | 0.75% | 0.75% | 4.10% | 4.10% | 59% | $190964 |
| 2024 | $8.21 | 0.32 | 0.49 | 0.81 | (0.23) |  | (0.23) | $8.79 | 9.87% | 0.75% | 0.75% | 3.69% | 3.69% | 103% | $190966 |
| 2023 | $8.70 | 0.28 | (0.26) | 0.02 | (0.51) |  | (0.51) | $8.21 | 0.13% | 0.71% | 0.74% | 3.06% | 3.03% | 83% | $169387 |
| 2022 | $10.46 | 0.18 | (1.60) | (1.42) | (0.27) | (0.07) | (0.34) | $8.70 | (13.93)% | 0.70% | 0.74% | 1.91% | 1.87% | 97% | $5919 |
| 2021 | $10.42 | 0.17 | (0.10) | 0.07 | —<sup>(4)</sup> | (0.03) | (0.03) | $10.46 | 0.70% | 0.70% | 0.74% | 1.56% | 1.52% | 119% | $18975 |
| 2020 | $10.47 | 0.16 | 0.04 | 0.20 | (0.25) |  | (0.25) | $10.42 | 2.01% | 0.73% | 0.74% | 1.56% | 1.55% | 106% | $16077 |
| **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** | **Y Class** |
| 2025<sup>(3)</sup> | $8.81 | 0.18 | —<sup>(4)</sup> | 0.18 | (0.23) |  | (0.23) | $8.76 | 2.08% | 0.65% | 0.65% | 4.20% | 4.20% | 59% | $96868 |
| 2024 | $8.22 | 0.33 | 0.49 | 0.82 | (0.23) |  | (0.23) | $8.81 | 10.07% | 0.65% | 0.65% | 3.79% | 3.79% | 103% | $96014 |
| 2023 | $8.71 | 0.27 | (0.24) | 0.03 | (0.52) |  | (0.52) | $8.22 | 0.23% | 0.61% | 0.64% | 3.16% | 3.13% | 83% | $57340 |
| 2022 | $10.48 | 0.19 | (1.61) | (1.42) | (0.28) | (0.07) | (0.35) | $8.71 | (13.91)% | 0.60% | 0.64% | 2.01% | 1.97% | 97% | $53201 |
| 2021 | $10.44 | 0.18 | (0.10) | 0.08 | (0.01) | (0.03) | (0.04) | $10.48 | 0.80% | 0.60% | 0.64% | 1.66% | 1.62% | 119% | $62274 |
| 2020 | $10.49 | 0.17 | 0.05 | 0.22 | (0.27) |  | (0.27) | $10.44 | 2.15% | 0.63% | 0.64% | 1.66% | 1.65% | 106% | $43071 |
| **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** |
| 2025<sup>(3)</sup> | $8.69 | 0.16 | —<sup>(4)</sup> | 0.16 | (0.20) |  | (0.20) | $8.65 | 1.87% | 1.10% | 1.10% | 3.75% | 3.75% | 59% | $1360 |
| 2024 | $8.12 | 0.29 | 0.48 | 0.77 | (0.20) |  | (0.20) | $8.69 | 9.57% | 1.10% | 1.10% | 3.34% | 3.34% | 103% | $1423 |
| 2023 | $8.62 | 0.23 | (0.25) | (0.02) | (0.48) |  | (0.48) | $8.12 | (0.34)% | 1.06% | 1.09% | 2.71% | 2.68% | 83% | $1305 |
| 2022 | $10.36 | 0.15 | (1.59) | (1.44) | (0.23) | (0.07) | (0.30) | $8.62 | (14.17)% | 1.05% | 1.09% | 1.56% | 1.52% | 97% | $1144 |
| 2021 | $10.36 | 0.13 | (0.10) | 0.03 |  | (0.03) | (0.03) | $10.36 | 0.30% | 1.05% | 1.09% | 1.21% | 1.17% | 119% | $1450 |
| 2020 | $10.39 | 0.12 | 0.05 | 0.17 | (0.20) |  | (0.20) | $10.36 | 1.69% | 1.08% | 1.09% | 1.21% | 1.20% | 106% | $2054 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** |
| 2025<sup>(3)</sup> | $8.49 | 0.13 | (0.01) | 0.12 | (0.15) |  | (0.15) | $8.46 | 1.42% | 1.85% | 1.85% | 3.00% | 3.00% | 59% | $63 |
| 2024 | $7.95 | 0.21 | 0.48 | 0.69 | (0.15) |  | (0.15) | $8.49 | 8.76% | 1.85% | 1.85% | 2.59% | 2.59% | 103% | $88 |
| 2023 | $8.46 | 0.16 | (0.23) | (0.07) | (0.44) |  | (0.44) | $7.95 | (1.01)% | 1.81% | 1.84% | 1.96% | 1.93% | 83% | $177 |
| 2022 | $10.18 | 0.07 | (1.56) | (1.49) | (0.16) | (0.07) | (0.23) | $8.46 | (14.89)% | 1.80% | 1.84% | 0.81% | 0.77% | 97% | $256 |
| 2021 | $10.26 | 0.05 | (0.10) | (0.05) |  | (0.03) | (0.03) | $10.18 | (0.48)% | 1.80% | 1.84% | 0.46% | 0.42% | 119% | $571 |
| 2020 | $10.25 | 0.05 | 0.05 | 0.10 | (0.09) |  | (0.09) | $10.26 | 0.97% | 1.83% | 1.84% | 0.46% | 0.45% | 106% | $708 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |
| 2025<sup>(3)</sup> | $8.63 | 0.15 | (0.01) | 0.14 | (0.18) |  | (0.18) | $8.59 | 1.68% | 1.35% | 1.35% | 3.50% | 3.50% | 59% | $326 |
| 2024 | $8.07 | 0.27 | 0.48 | 0.75 | (0.19) |  | (0.19) | $8.63 | 9.30% | 1.35% | 1.35% | 3.09% | 3.09% | 103% | $207 |
| 2023 | $8.56 | 0.20 | (0.23) | (0.03) | (0.46) |  | (0.46) | $8.07 | (0.47)% | 1.31% | 1.34% | 2.46% | 2.43% | 83% | $123 |
| 2022 | $10.30 | 0.12 | (1.58) | (1.46) | (0.21) | (0.07) | (0.28) | $8.56 | (14.47)% | 1.30% | 1.34% | 1.31% | 1.27% | 97% | $260 |
| 2021 | $10.32 | 0.10 | (0.09) | 0.01 |  | (0.03) | (0.03) | $10.30 | 0.11% | 1.30% | 1.34% | 0.96% | 0.92% | 119% | $287 |
| 2020 | $10.34 | 0.10 | 0.04 | 0.14 | (0.16) |  | (0.16) | $10.32 | 1.42% | 1.33% | 1.34% | 0.96% | 0.95% | 106% | $294 |
| **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** | **R5 Class** |
| 2025<sup>(3)</sup> | $8.79 | 0.18 | (0.01) | 0.17 | (0.23) |  | (0.23) | $8.73 | 1.97% | 0.65% | 0.65% | 4.20% | 4.20% | 59% | $595 |
| 2024 | $8.20 | 0.33 | 0.49 | 0.82 | (0.23) |  | (0.23) | $8.79 | 10.09% | 0.65% | 0.65% | 3.79% | 3.79% | 103% | $5529 |
| 2023 | $8.70 | 0.27 | (0.25) | 0.02 | (0.52) |  | (0.52) | $8.20 | 0.12% | 0.61% | 0.64% | 3.16% | 3.13% | 83% | $5760 |
| 2022 | $10.46 | 0.19 | (1.60) | (1.41) | (0.28) | (0.07) | (0.35) | $8.70 | (13.84)% | 0.60% | 0.64% | 2.01% | 1.97% | 97% | $11116 |
| 2021 | $10.42 | 0.17 | (0.09) | 0.08 | (0.01) | (0.03) | (0.04) | $10.46 | 0.80% | 0.60% | 0.64% | 1.66% | 1.62% | 119% | $15136 |
| 2020 | $10.47 | 0.17 | 0.05 | 0.22 | (0.27) |  | (0.27) | $10.42 | 2.16% | 0.63% | 0.64% | 1.66% | 1.65% | 106% | $15988 |
| **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** | **R6 Class** |
| 2025<sup>(3)</sup> | $8.79 | 0.18 | —<sup>(4)</sup> | 0.18 | (0.23) |  | (0.23) | $8.74 | 2.12% | 0.60% | 0.60% | 4.25% | 4.25% | 59% | $6488 |
| 2024 | $8.20 | 0.33 | 0.49 | 0.82 | (0.23) |  | (0.23) | $8.79 | 10.13% | 0.60% | 0.60% | 3.84% | 3.84% | 103% | $7073 |
| 2023 | $8.70 | 0.27 | (0.25) | 0.02 | (0.52) |  | (0.52) | $8.20 | 0.17% | 0.56% | 0.59% | 3.21% | 3.18% | 83% | $6465 |
| 2022 | $10.46 | 0.20 | (1.61) | (1.41) | (0.28) | (0.07) | (0.35) | $8.70 | (13.79)% | 0.55% | 0.59% | 2.06% | 2.02% | 97% | $6179 |
| 2021 | $10.42 | 0.18 | (0.09) | 0.09 | (0.02) | (0.03) | (0.05) | $10.46 | 0.86% | 0.55% | 0.59% | 1.71% | 1.67% | 119% | $7319 |
| 2020 | $10.47 | 0.18 | 0.05 | 0.23 | (0.28) |  | (0.28) | $10.42 | 2.23% | 0.58% | 0.59% | 1.71% | 1.70% | 106% | $8114 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended October 31 (except as noted)** | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** | **G Class** |
| 2025<sup>(3)</sup> | $8.83 | 0.21 | (0.01) | 0.20 | (0.27) |  | (0.27) | $8.76 | 2.34% | 0.02% | 0.60% | 4.83% | 4.25% | 59% | $2235300 |
| 2024 | $8.22 | 0.38 | 0.50 | 0.88 | (0.27) |  | (0.27) | $8.83 | 10.83% | 0.02% | 0.60% | 4.42% | 3.84% | 103% | $2563003 |
| 2023 | $8.72 | 0.32 | (0.25) | 0.07 | (0.57) |  | (0.57) | $8.22 | 0.72% | 0.01% | 0.59% | 3.76% | 3.18% | 83% | $2018795 |
| 2022 | $10.48 | 0.25 | (1.61) | (1.36) | (0.33) | (0.07) | (0.40) | $8.72 | (13.30)% | 0.01% | 0.59% | 2.60% | 2.02% | 97% | $1596902 |
| 2021 | $10.46 | 0.24 | (0.10) | 0.14 | (0.09) | (0.03) | (0.12) | $10.48 | 1.35% | 0.01% | 0.59% | 2.25% | 1.67% | 119% | $2089178 |
| 2020 | $10.54 | 0.24 | 0.04 | 0.28 | (0.36) |  | (0.36) | $10.46 | 2.80% | 0.01% | 0.59% | 2.28% | 1.70% | 106% | $1599830 |

---

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended April 30, 2025 (unaudited).

(4)Per-share amount was less than $0.005.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement(s) of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | |
|:---|:---|
| Contact Us | americancentury.com |
| Automated Information Line | 1-800-345-8765 |
| Investor Services Representative | 1-800-345-2021<br>or 816-531-5575 |
| Banks and Trust Companies, Broker-Dealers,<br>Financial Professionals, Insurance Companies | 1-800-345-6488 |
| *This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.* | *This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.* |
| **©2025 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-92372 2506** | **©2025 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-92372 2506** |

---

------

(b) The information required by Item 13 of Form N-1A is included as part of the financial statements filed under Item 7(a) of this Form.

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

None.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

None.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

The remuneration paid to directors, officers and others is included as part of the financial statements and other information filed under Item 7 of this Form.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

None. <br>

**ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.**

Not applicable.

**ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.**

During the reporting period, there were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board.

**ITEM 16. CONTROLS AND PROCEDURES.**

------

(a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.**

(a) Not applicable.

(b) Not applicable.

**ITEM 19. EXHIBITS.** 

(a)(1) Not applicable for semiannual report filings.

(a)(2) Not applicable for semiannual report filings.

(a)(3) <u>[Separate certifications by the registrant's principal executive officer and principal financial officer](acibfex-99cert.htm)</u>, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are filed and attached hereto as EX-99.CERT.

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) <u>[A certification by the registrant's chief executive officer and chief financial officer,](acibfex-99906cert.htm)</u> pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, is furnished and attached hereto as EX- 99.906CERT.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Registrant: | American Century International Bond Funds | American Century International Bond Funds |
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
| Date: | June 27, 2025 | June 27, 2025 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
|  |  | (principal executive officer) |
| Date: | June 27, 2025 | June 27, 2025 |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ R. Wes Campbell | /s/ R. Wes Campbell |
|  | Name: | R. Wes Campbell |
|  | Title: | Treasurer and |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |
| Date: | June 27, 2025 | June 27, 2025 |

---

## Ex-99

EX-99.CERT

CERTIFICATIONS

I, Patrick Bannigan, certify that:

1. I have reviewed this report on Form N-CSR of American Century International Bond Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: | June 27, 2025 |
| /s/ Patrick Bannigan | /s/ Patrick Bannigan |
| Patrick Bannigan | Patrick Bannigan |
| President | President |
| (principal executive officer) | (principal executive officer) |

---

------

I, R. Wes Campbell, certify that:

1. I have reviewed this report on Form N-CSR of American Century International Bond Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: | June 27, 2025 |
| /s/ R. Wes Campbell | /s/ R. Wes Campbell |
| R. Wes Campbell | R. Wes Campbell |
| Treasurer and Chief Financial Officer | Treasurer and Chief Financial Officer |
| (principal financial officer) | (principal financial officer) |

---

## Exhibit 99.906

EX-99.906CERT

**CERTIFICATION** 

**<u>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</u>**

In connection with the shareholder report of American Century International Bond Funds (the "Registrant") on Form N-CSR for the period ending April 30, 2025 (the "Report"), we, the undersigned, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

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| | | | |
|:---|:---|:---|:---|
| Date: | June 27, 2025 |  |  |
|  |  | By: | /s/ Patrick Bannigan |
|  |  |  | Patrick Bannigan |
|  |  |  | President |
|  |  |  | (chief executive officer) |
|  |  | By: | /s/ R. Wes Campbell |
|  |  |  | R. Wes Campbell |
|  |  |  | Treasurer and Chief Financial Officer |
|  |  |  | (chief financial officer) |

---

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