Stone Harbor Emerging Markets Debt Fund 1300 Investments as of June 30, 2019 1300 (Unaudited) Shares/Principal Currency ISIN/ID Amount Security Description Code Interest Rate Maturity Date Market Value % of Fund Fixed Income XS0784926270 3,000,000 1MDB Energy, Ltd. USD 5.990 05/11/2022 3,142,505 0.26% XS0906085179 15,200,000 1MDB Global Investments, Ltd. USD 4.400 03/09/2023 14,447,125 1.18% XS1753595328 520,000 ABJA Investment Co. Pte, Ltd. USD 5.450 01/24/2028 501,150 0.04% US00401MAA45 2,206,000 Abu Dhabi Crude Oil Pipeline USD 3.650 11/02/2029 2,324,573 0.19% US00401MAB28 9,364,000 Abu Dhabi Crude Oil Pipeline USD 4.600 11/02/2047 10,323,810 0.84% US005117AA49 5,306,000 Acwa Power Management And Investments One, Ltd. USD 5.950 12/15/2039 5,531,505 0.45% US00676LAA44 5,027,000 Adecoagro SA USD 6.000 09/21/2027 4,826,705 0.39% US001355AA49 5,690,000 AI Candelaria Spain SLU USD 7.500 12/15/2028 6,216,325 0.51% US05462GAJ31 2,321,000 Axtel SAB Axtel de CV USD 6.375 11/14/2024 2,374,310 0.19% US05971PAB40 1,693,000 Banco Mercantil del Norte SA/Grand Cayman USD 7.500 12/31/2049 1,711,200 0.14% US05971PAA66 3,586,000 Banco Mercantil del Norte SA/Grand Cayman USD 6.750 12/31/2049 3,586,000 0.29% US05970AAB89 5,559,000 Banco Nacional de Comercio Exterior SNC USD 3.800 08/11/2026 5,621,539 0.46% USP14517AB56 4,845,000 Banco Nacional de Comercio Exterior SNC USD 3.800 08/11/2026 4,899,506 0.40% XS1175223699 200,000 Banque Centrale de Tunisie USD 5.750 01/30/2025 186,500 0.02% XS1567439689 1,825,000 Banque Centrale de Tunisie EUR 5.625 02/17/2024 2,066,777 0.17% XS1963477556 4,380,000 Benin Government International Bond EUR 5.750 03/26/2026 5,117,462 0.42% US105860AA87 1,665,900 Brazil Minas SPE via State of Minas Gerais USD 5.333 02/15/2028 1,752,319 0.14% USG13201AA91 7,737,300 Brazil Minas SPE via State of Minas Gerais USD 5.333 02/15/2028 8,138,672 0.67% US12674TAA43 2,563,000 C&W Senior Financing DAC USD 6.875 09/15/2027 2,649,758 0.22% XS1788513734 14,710,000 CNAC HK Finbridge Co., Ltd. USD 5.125 03/14/2028 16,251,976 1.33% US21987BAV09 8,158,000 Codelco, Inc. USD 4.500 09/16/2025 8,890,945 0.73% US21987BAY48 14,519,000 Codelco, Inc. USD 4.375 02/05/2049 15,459,729 1.26% USP3143NAS38 1,497,000 Codelco, Inc. USD 5.625 10/18/2043 1,871,952 0.15% USP3143NBB93 1,550,000 Codelco, Inc. USD 4.375 02/05/2049 1,650,429 0.13% US20039FAA75 4,028,700 Cometa Energia SA de CV USD 6.375 04/24/2035 4,157,115 0.34% US12644VAC28 2,730,000 CSN Resources SA USD 7.625 04/17/2026 2,904,611 0.24% US25382FAA93 197,190 Digicel Group Two, Ltd. USD 9.125 04/01/2024 45,354 0.00% US25714PBY34 447,000 Dominican Republic USD 5.875 04/18/2024 480,455 0.04% US25714PCF36 1,587,000 Dominican Republic USD 7.450 04/30/2044 1,844,888 0.15% US25714PDZ80 3,327,000 Dominican Republic USD 6.000 07/19/2028 3,596,799 0.29% USP3579EAH01 7,162,667 Dominican Republic USD 7.500 05/06/2021 7,565,567 0.62% USP3579EAT49 1,632,000 Dominican Republic USD 6.600 01/28/2024 1,817,640 0.15% USP3579EBK21 5,395,000 Dominican Republic USD 6.875 01/29/2026 6,103,094 0.50% USP3579EBY25 2,878,000 Dominican Republic USD 6.500 02/15/2048 3,050,230 0.25% USP37110AN62 1,525,000 Empresa Nacional del Petroleo USD 5.250 11/06/2029 1,732,305 0.14% XS1111082779 231,368 EP PetroEcuador via Noble Sovereign Funding I, Ltd. USD 7.963 09/24/2019 232,103 0.02% US296464AA84 3,461,000 Eskom Holdings SOC, Ltd. USD 5.750 01/26/2021 3,506,426 0.29% US29646AAB26 816,000 Eskom Holdings SOC, Ltd. USD 7.125 02/11/2025 858,840 0.07% US29646AAD81 834,000 Eskom Holdings SOC, Ltd. USD 8.450 08/10/2028 943,723 0.08% US37255BAA70 2,393,000 Geopark, Ltd. USD 6.500 09/21/2024 2,452,825 0.20% US36254VAA61 3,903,000 Gol Finance, Inc. USD 7.000 01/31/2025 3,821,281 0.31% US38502HAA32 1,940,000 Gran Tierra Energy International Holdings, Ltd. USD 6.250 02/15/2025 1,809,050 0.15% US38502JAA97 493,000 Gran Tierra Energy, Inc. USD 7.750 05/23/2027 485,556 0.04% US421790AF39 9,400,000 Hazine Mustesarligi Varlik Kiralama AS USD 5.800 02/21/2022 9,471,969 0.77%
US69888UAB17 4,862,000 Independent State of Papua New Guinea USD 8.375 10/04/2028 5,225,131 0.43% US74445PAB85 2,367,000 Indonesia Asahan Aluminium Persero PT USD 5.710 11/15/2023 2,601,481 0.21% US45721RAC79 113,000 Inkia Energy, Ltd. USD 5.875 11/09/2027 116,249 0.01% XS1631415400 2,930,000 Ivory Coast Government USD 6.125 06/15/2033 2,735,888 0.22% XS1632632037 2,561,000 Ivory Coast Government USD 6.125 06/15/2033 2,391,334 0.20% XS1793329225 3,741,000 Ivory Coast Government EUR 5.250 03/22/2030 4,182,107 0.34% US29605YAA10 3,032,000 JBS Investments GmbH USD 6.250 02/05/2023 3,100,220 0.25% US46650CAA71 1,127,000 JBS Investments II GmbH USD 7.000 01/15/2026 1,225,613 0.10% US46590PAB94 1,909,000 JSL Europe SA USD 7.750 07/26/2024 1,956,128 0.16% US48667QAN51 5,854,000 KazMunayGas National Co. JSC USD 4.750 04/19/2027 6,285,733 0.51% US48667QAP00 3,029,000 KazMunayGas National Co. JSC USD 5.750 04/19/2047 3,426,556 0.28% US48667QAR65 8,015,000 KazMunayGas National Co. JSC USD 4.750 04/24/2025 8,545,994 0.70% US48667QAS49 8,668,000 KazMunayGas National Co. JSC USD 6.375 10/24/2048 10,349,592 0.85% XS1807300105 8,797,000 KazMunayGas National Co. JSC USD 5.375 04/24/2030 9,771,543 0.80% US48668NAA90 5,774,000 KazTransGas JSC USD 4.375 09/26/2027 5,916,618 0.48% US05674RAD61 2,676,000 Kingdom of Bahrain USD 6.000 09/19/2044 2,465,265 0.20% US05674RAF10 1,000,000 Kingdom of Bahrain USD 7.000 01/26/2026 1,087,500 0.09% US05674RAG92 582,000 Kingdom of Bahrain USD 7.000 10/12/2028 628,924 0.05% US05674RAJ32 5,732,000 Kingdom of Bahrain USD 6.750 09/20/2029 6,075,920 0.50% US05674RAK05 6,541,000 Kingdom of Bahrain USD 7.500 09/20/2047 6,933,460 0.57% XS0956406135 495,000 Kingdom of Bahrain USD 6.125 08/01/2023 523,463 0.04% XS1110833123 316,000 Kingdom of Bahrain USD 6.000 09/19/2044 291,115 0.02% XS1675862012 2,405,000 Kingdom of Bahrain USD 6.750 09/20/2029 2,549,300 0.21% XS1675862103 500,000 Kingdom of Bahrain USD 7.500 09/20/2047 530,000 0.04% US418097AJ07 825,000 Kingdom of Jordan USD 7.375 10/10/2047 852,844 0.07% XS1577950311 1,262,000 Kingdom of Jordan USD 7.375 10/10/2047 1,304,593 0.11% US500688AC04 2,468,000 Kosmos Energy, Ltd. USD 7.125 04/04/2026 2,498,110 0.20% XS0559237796 4,578,000 Lebanese Republic USD 6.100 10/04/2022 3,917,767 0.32% XS0250882478 3,597,000 Lebanese Republic USD 8.250 04/12/2021 3,407,033 0.28% XS0707819727 827,000 Lebanese Republic USD 5.450 11/28/2019 822,348 0.07% XS0707820659 1,563,000 Lebanese Republic USD 6.600 11/27/2026 1,243,562 0.10% XS1196419854 2,570,000 Lebanese Republic USD 6.650 02/26/2030 1,998,577 0.16% XS0944226637 1,284,000 Lebanese Republic USD 6.150 06/19/2020 1,245,079 0.10% XS1419879686 2,406,000 Lebanese Republic USD 6.400 05/26/2023 2,048,108 0.17% USG54897AA45 1,126,000 Lima Metro Line 2 Finance, Ltd. USD 5.875 07/05/2034 1,198,838 0.10% US566007AB67 416,000 Marb Bondco PLC USD 6.875 01/19/2025 432,814 0.04% US602736AB68 395,000 Minejesa Capital BV USD 5.625 08/10/2037 416,293 0.03% US602736AA85 2,507,000 Minejesa Capital BV USD 4.625 08/10/2030 2,544,605 0.21% US603374AD12 5,001,000 Minerva Luxembourg SA USD 6.500 09/20/2026 5,208,823 0.43% US62877VAA98 2,863,000 NBM US Holdings, Inc. USD 7.000 05/14/2026 3,019,034 0.25% US66978CAC64 2,076,000 Nostrum Oil & Gas Finance BV USD 7.000 02/16/2025 1,337,398 0.11% US67091TAB17 2,213,000 OCP SA USD 6.875 04/25/2044 2,553,249 0.21% US67778M2C35 6,732,000 Oil and Gas Holding Co. BSCC USD 7.625 11/07/2024 7,333,168 0.60% US682051AE72 6,395,000 Oman Government USD 5.375 03/08/2027 5,995,313 0.49% US682051AF48 3,831,000 Oman Government USD 6.500 03/08/2047 3,328,181 0.27% US682051AH04 3,981,000 Oman Government USD 5.625 01/17/2028 3,786,926 0.31% XS1575967218 929,000 Oman Government USD 5.375 03/08/2027 870,938 0.07% XS1750114396 2,776,000 Oman Government USD 6.750 01/17/2048 2,453,290 0.20% US697660AA69 1,384,000 Pampa Energia SA USD 7.500 01/24/2027 1,292,570 0.11%
US69370RAA59 7,649,000 Pertamina Persero PT USD 6.450 05/30/2044 9,372,415 0.77% USY7138AAD29 1,922,000 Pertamina Persero PT USD 6.000 05/03/2042 2,213,603 0.18% USY7138AAF76 4,428,000 Pertamina Persero PT USD 5.625 05/20/2043 4,884,638 0.40% XS0781029698 2,878,151 Peru Payroll Deduction Finance Ltd. USD 0.000 11/01/2029 2,194,590 0.18% US71568QAE70 2,300,000 Perusahaan Listrik Negara PT USD 5.450 05/21/2028 2,556,234 0.21% XS1584995846 1,606,667 Petroamazonas EP USD 4.625 02/16/2020 1,607,169 0.13% US71647NBD03 2,371,000 Petrobras Global Finance BV USD 6.900 03/19/2049 2,528,672 0.21% US71647NAZ24 2,347,000 Petrobras Global Finance BV USD 5.750 02/01/2029 2,453,765 0.20% USP7807HAQ85 11,517,000 Petroleos de Venezuela SA^ USD 9.750 05/17/2035 1,785,135 0.15% USP7807HAR68 3,307,000 Petroleos de Venezuela SA^ USD 6.000 11/15/2026 512,585 0.04% USP7807HAT25 60,489,976 Petroleos de Venezuela SA^ USD 6.000 05/16/2024 9,375,946 0.77% XS0294364954 600,000 Petroleos de Venezuela SA^ USD 5.375 04/12/2027 93,000 0.01% USP7808BAA54 4,789,000 Petroleos del Peru SA USD 4.750 06/19/2032 5,256,167 0.43% USP7808BAB38 8,470,000 Petroleos del Peru SA USD 5.625 06/19/2047 9,666,388 0.79% US71654QAM42 1,062,000 Petroleos Mexicanos USD 9.500 09/15/2027 1,218,932 0.10% US71654QAZ54 1,183,000 Petroleos Mexicanos USD 6.500 06/02/2041 1,052,279 0.09% US71654QBW15 1,723,000 Petroleos Mexicanos USD 4.500 01/23/2026 1,582,283 0.13% US71654QCB68 7,836,000 Petroleos Mexicanos USD 6.875 08/04/2026 7,921,412 0.65% USP2389CAA10 999,000 Provincia del Chaco USD 9.375 08/18/2024 673,076 0.06% PPE01Z7D0 6,750,674,000 PT Bakrie & Brothers TBK (MCB) IDR 0.000 12/22/2022 49 0.00% XS1628012954 484,282 PT Bumi Resources TBK (Eterna Capital Pte, Ltd.) USD 8.000 12/11/2022 406,646 0.03% XS1628011717 2,605,999 PT Bumi Resources TBK (Eterna Capital Pte, Ltd.) USD 7.500 12/11/2022 2,614,143 0.21% US74727PAR29 1,998,000 Qatar Government International Bond USD 5.750 01/20/2042 2,604,893 0.21% US74727PAX96 2,000,000 Qatar Government International Bond USD 4.500 04/23/2028 2,240,000 0.18% US74727PAY79 3,530,000 Qatar Government International Bond USD 5.103 04/23/2048 4,216,144 0.34% US74727PBA84 7,948,000 Qatar Government International Bond USD 4.000 03/14/2029 8,593,775 0.70% XS1807174559 2,911,000 Qatar Government International Bond USD 5.103 04/23/2048 3,476,826 0.28% XS1959337582 1,146,000 Qatar Government International Bond USD 4.000 03/14/2029 1,239,113 0.10% XS1959337749 8,795,000 Qatar Government International Bond USD 4.817 03/14/2049 10,092,263 0.83% PTAVBAOT0003 22,366,000 Republic of Angola USD 9.713 07/01/2023 24,281,620 1.99% PTAVBBOT0002 1,692,000 Republic of Angola USD 6.872 12/07/2023 1,620,132 0.13% US040114GW47 28,043,000 Republic of Argentina USD 6.875 04/22/2021 24,677,840 2.02% ARARGE320622 3,083,000 Republic of Argentina USD 4.500 02/13/2020 2,801,195 0.23% XS0501195134 42,702,900 Republic of Argentina EUR 7.820 12/31/2033 39,900,588 3.26% XS0205545840 5,852,849 Republic of Argentina EUR 7.820 12/31/2033 5,580,032 0.46% US07737JAB98 755,000 Republic of Belarus USD 6.875 02/28/2023 813,513 0.07% XS1634369224 2,805,000 Republic of Belarus USD 7.625 06/29/2027 3,211,725 0.26% XS1760804184 1,203,000 Republic of Belarus USD 6.200 02/28/2030 1,288,714 0.11% USP37878AC26 6,297,000 Republic of Bolivia USD 4.500 03/20/2028 6,159,253 0.50% US105756BB58 1,531,000 Republic of Brazil USD 8.250 01/20/2034 2,048,191 0.17% US105756BR01 1,220,000 Republic of Brazil USD 5.625 01/07/2041 1,310,356 0.11% US105756BX78 7,506,000 Republic of Brazil USD 6.000 04/07/2026 8,661,962 0.71% US105756BY51 4,444,000 Republic of Brazil USD 5.625 02/21/2047 4,752,997 0.39% US105756BZ27 114,000 Republic of Brazil USD 4.625 01/13/2028 119,878 0.01% US105756CA66 10,177,000 Republic of Brazil USD 4.500 05/30/2029 10,469,589 0.86% US133653AA31 1,964,000 Republic of Cameroon USD 9.500 11/19/2025 2,139,533 0.17% XS1313779081 2,194,000 Republic of Cameroon USD 9.500 11/19/2025 2,390,089 0.20% US168863DL94 1,080,000 Republic of Chile USD 3.500 01/25/2050 1,100,790 0.09% US195325BD67 3,515,000 Republic of Columbia USD 8.125 05/21/2024 4,341,025 0.35%
US195325BR53 2,617,000 Republic of Columbia USD 5.625 02/26/2044 3,109,732 0.25% US195325CU73 8,220,000 Republic of Columbia USD 5.000 06/15/2045 9,111,870 0.74% US195325CX13 2,646,000 Republic of Columbia USD 4.500 01/28/2026 2,861,649 0.23% US195325DP79 1,565,000 Republic of Columbia USD 4.500 03/15/2029 1,715,631 0.14% US195325DQ52 770,000 Republic of Columbia USD 5.200 05/15/2049 877,078 0.07% XS1080330704 1,873,000 Republic of Ecuador USD 7.950 06/20/2024 1,967,528 0.16% XS1080331181 1,497,000 Republic of Ecuador USD 7.950 06/20/2024 1,572,552 0.13% XS1707041262 7,578,000 Republic of Ecuador USD 8.875 10/23/2027 7,928,483 0.65% XS1929377015 2,607,000 Republic of Ecuador USD 10.750 01/31/2029 2,954,872 0.24% XS1755429732 6,786,000 Republic of Ecuador USD 7.875 01/23/2028 6,736,165 0.55% XS1755432363 5,314,000 Republic of Ecuador USD 7.875 01/23/2028 5,274,975 0.43% US038461AK57 2,669,000 Republic of Egypt USD 6.125 01/31/2022 2,765,751 0.23% US038461AM14 1,666,000 Republic of Egypt USD 8.500 01/31/2047 1,771,687 0.14% US03846JW222 2,066,000 Republic of Egypt USD 5.875 06/11/2025 2,112,485 0.17% US03846JW487 11,550,000 Republic of Egypt USD 6.588 02/21/2028 11,708,813 0.96% XS1558078496 595,000 Republic of Egypt USD 8.500 01/31/2047 632,745 0.05% XS1807305328 550,000 Republic of Egypt EUR 5.625 04/16/2030 612,115 0.05% XS1807306219 15,013,000 Republic of Egypt EUR 5.625 04/16/2030 16,708,520 1.37% XS1807306482 1,370,000 Republic of Egypt EUR 4.750 04/16/2026 1,572,675 0.13% XS1980256314 4,925,000 Republic of Egypt EUR 6.375 04/11/2031 5,718,348 0.47% US283875AH54 867,000 Republic of El Salvador USD 8.250 04/10/2032 960,203 0.08% US283875AP70 190,000 Republic of El Salvador USD 7.375 12/01/2019 192,642 0.02% USP01012AR71 4,341,000 Republic of El Salvador USD 7.625 02/01/2041 4,606,886 0.38% USP01012AS54 3,333,000 Republic of El Salvador USD 5.875 01/30/2025 3,354,352 0.27% USP01012BX31 4,277,000 Republic of El Salvador USD 8.625 02/28/2029 4,889,680 0.40% XS0146173371 3,825,000 Republic of El Salvador USD 8.250 04/10/2032 4,236,187 0.35% US37311PAA84 373,000 Republic of Georgia USD 6.875 04/12/2021 394,914 0.03% US374422AD53 6,400,000 Republic of Ghana USD 10.750 10/14/2030 8,144,000 0.67% US37443GAA94 3,081,000 Republic of Ghana USD 7.875 03/26/2027 3,242,752 0.27% US37443GAC50 3,081,000 Republic of Ghana USD 8.950 03/26/2051 3,198,463 0.26% XS0956935398 2,278,000 Republic of Ghana USD 7.875 08/07/2023 2,478,749 0.20% XS1297557412 4,547,000 Republic of Ghana USD 10.750 10/14/2030 5,786,057 0.47% US445545AL04 3,683,000 Republic of Hungary USD 5.375 03/25/2024 4,166,969 0.34% US455780BX36 11,271,000 Republic of Indonesia USD 4.350 01/08/2027 12,061,731 0.99% US455780BY19 664,000 Republic of Indonesia USD 5.250 01/08/2047 769,202 0.06% US455780CH76 2,217,000 Republic of Indonesia USD 4.750 02/11/2029 2,465,027 0.20% USY20721AE96 5,347,000 Republic of Indonesia USD 8.500 10/12/2035 8,054,754 0.66% USY20721AJ83 692,000 Republic of Indonesia USD 6.625 02/17/2037 903,276 0.07% USY20721BB49 1,380,000 Republic of Indonesia USD 5.250 01/17/2042 1,580,531 0.13% USY20721BK48 948,000 Republic of Indonesia USD 6.750 01/15/2044 1,300,241 0.11% USY20721BM04 1,770,000 Republic of Indonesia USD 5.125 01/15/2045 1,997,334 0.16% USY20721BN86 2,219,000 Republic of Indonesia USD 4.750 01/08/2026 2,422,524 0.20% US462652AE80 1,199,000 Republic of Iraq USD 6.752 03/09/2023 1,236,469 0.10% XS0240295575 2,247,000 Republic of Iraq USD 5.800 01/15/2028 2,221,019 0.18% US491798AE43 6,541,000 Republic of Kenya USD 6.875 06/24/2024 6,990,694 0.57% US491798AG90 1,159,000 Republic of Kenya USD 7.250 02/28/2028 1,206,809 0.10% US491798AK03 851,000 Republic of Kenya USD 8.000 05/22/2032 899,932 0.07% US65412JAC71 16,806,000 Republic of Nigeria USD 6.500 11/28/2027 16,890,030 1.38% US65412JAD54 382,000 Republic of Nigeria USD 7.143 02/23/2030 386,775 0.03%
US65412JAK97 540,000 Republic of Nigeria USD 8.747 01/21/2031 602,775 0.05% XS1777972941 5,443,000 Republic of Nigeria USD 7.696 02/23/2038 5,551,009 0.45% US740840AC76 3,867,000 Republic of Pakistan USD 6.875 12/05/2027 3,923,796 0.32% USY8793YAL66 473,000 Republic of Pakistan USD 7.875 03/31/2036 477,434 0.04% XS1729875598 3,714,000 Republic of Pakistan USD 6.875 12/05/2027 3,768,549 0.31% US698299AK07 4,988,000 Republic of Panama USD 9.375 04/01/2029 7,494,470 0.61% US699149AB65 4,939,000 Republic of Paraguay USD 6.100 08/11/2044 5,909,822 0.48% USP75744AE59 1,794,000 Republic of Paraguay USD 4.700 03/27/2027 1,948,172 0.16% US715638BM30 1,956,000 Republic of Peru USD 5.625 11/18/2050 2,704,170 0.22% US81720TAC99 4,100,000 Republic of Senegal USD 6.250 05/23/2033 3,992,375 0.33% US81720TAD72 1,327,000 Republic of Senegal USD 6.750 03/13/2048 1,254,015 0.10% US836205AN45 3,400,000 Republic of South Africa USD 5.500 03/09/2020 3,462,900 0.28% US836205AT15 6,754,000 Republic of South Africa USD 4.875 04/14/2026 7,019,939 0.57% US836205AW44 1,032,000 Republic of South Africa USD 4.850 09/27/2027 1,064,250 0.09% US836205AZ74 1,519,000 Republic of South Africa USD 6.300 06/22/2048 1,675,884 0.14% US85227SAK24 6,616,000 Republic of Sri Lanka USD 5.875 07/25/2022 6,647,012 0.54% US85227SAV88 4,790,000 Republic of Sri Lanka USD 5.750 04/18/2023 4,766,798 0.39% US85227SAW61 2,399,000 Republic of Sri Lanka USD 6.750 04/18/2028 2,331,528 0.19% US85227SAZ92 4,342,000 Republic of Sri Lanka USD 7.850 03/14/2029 4,504,146 0.37% USY8137FAH11 4,940,000 Republic of Sri Lanka USD 6.200 05/11/2027 4,704,578 0.38% USY2029SAF12 340,000 Republic of Sri Lanka USD 6.250 10/04/2020 344,834 0.03% USY2029SAG94 4,631,000 Republic of Sri Lanka USD 6.250 07/27/2021 4,704,083 0.38% US900123AY60 2,028,000 Republic of Turkey USD 6.875 03/17/2036 1,953,217 0.16% US900123BZ27 9,510,000 Republic of Turkey USD 6.250 09/26/2022 9,619,959 0.79% US900123CF53 5,448,000 Republic of Turkey USD 5.750 03/22/2024 5,330,527 0.44% US900123CL22 4,103,000 Republic of Turkey USD 6.000 03/25/2027 3,919,647 0.32% US900123CM05 8,314,000 Republic of Turkey USD 5.750 05/11/2047 7,014,937 0.57% US900123CQ19 6,241,000 Republic of Turkey USD 6.125 10/24/2028 5,921,149 0.48% US900123CR91 1,612,000 Republic of Turkey USD 7.250 12/23/2023 1,671,191 0.14% US900123CT57 1,847,000 Republic of Turkey USD 7.625 04/26/2029 1,896,638 0.16% US760942BB71 20,360,576 Republic of Uruguay USD 4.375 10/27/2027 22,037,142 1.80% USP97475AN08 25,087,500 Republic of Venezuela^ USD 7.750 10/13/2019 5,142,937 0.42% USP17625AB33 1,927,000 Republic of Venezuela^ USD 9.250 05/07/2028 395,035 0.03% US988895AA69 927,000 Republic of Zambia USD 5.375 09/20/2022 621,090 0.05% US988895AE81 3,013,000 Republic of Zambia USD 8.500 04/14/2024 2,033,775 0.17% XS0828779594 3,998,000 Republic of Zambia USD 5.375 09/20/2022 2,678,660 0.22% US76706AAA25 2,874,000 Rio Energy SA USD 6.875 02/01/2025 2,204,897 0.18% XS1313004928 2,035,000 Romanian Government International Bond EUR 3.875 10/29/2035 2,663,991 0.22% XS1768074319 5,807,000 Romanian Government International Bond EUR 3.375 02/08/2038 7,145,836 0.58% XS1892127470 5,529,000 Romanian Government International Bond EUR 4.125 03/11/2039 7,219,275 0.59% RU000A0JXTS9 7,200,000 Russian Federation USD 4.250 06/23/2027 7,455,600 0.61% RU000A0JXU14 11,400,000 Russian Federation USD 5.250 06/23/2047 12,632,625 1.03% RU000A0JWHA4 8,000,000 Russian Federation USD 4.750 05/27/2026 8,533,750 0.70% RU000A1006S9 4,200,000 Russian Federation USD 5.100 03/28/2035 4,569,600 0.37% RU000A1006T7 12,800,000 Russian Federation USD 5.100 03/28/2035 13,926,400 1.14% US78307ADB61 66,000 Russian Federation USD 5.000 04/29/2020 67,254 0.01% XS0767473852 3,800,000 Russian Federation USD 5.625 04/04/2042 4,463,100 0.36% US80414L2D64 6,128,000 Saudi Arabian Oil Co. USD 3.500 04/16/2029 6,209,197 0.51% US80414L2E48 6,150,000 Saudi Arabian Oil Co. USD 4.250 04/16/2039 6,230,565 0.51%
US80413TAJ88 2,000,000 Saudi Government International Bond USD 5.000 04/17/2049 2,195,000 0.18% US80413TAK51 5,631,000 Saudi Government International Bond USD 4.375 04/16/2029 6,106,819 0.50% XS1508675508 1,296,000 Saudi Government International Bond USD 4.500 10/26/2046 1,320,624 0.11% XS1791939736 9,123,000 Saudi Government International Bond USD 5.000 04/17/2049 10,012,492 0.82% USG8201NAC68 4,435,000 Sinopec Group Overseas Development 2017, Ltd. USD 3.625 04/12/2027 4,580,794 0.37% USG8201NAH55 2,520,000 Sinopec Group Overseas Development 2017, Ltd. USD 3.250 09/13/2027 2,547,562 0.21% USG82016AC32 18,291,000 Sinopec Group Overseas Development 2018, Ltd. USD 4.250 09/12/2028 19,800,007 1.62% US84302LAA08 2,700,000 Southern Gas Corridor CJSC USD 6.875 03/24/2026 3,141,450 0.26% XS1196496688 2,892,000 State Oil Co. of the Azerbaijan Republic USD 6.950 03/18/2030 3,433,798 0.28% XS1273034444 700,000 State Savings Bank of Ukraine Via SSB #1 PLC USD 9.625 03/20/2025 733,687 0.06% USP68788AA97 1,330,000 Suriname Government International Bond USD 9.250 10/26/2026 1,244,381 0.10% US899415AC75 717,000 Tullow Oil PLC USD 6.250 04/15/2022 724,954 0.06% US912810SH23 14,813,000 U.S. Treasury Notes USD 2.875 05/15/2049 15,868,715 1.30% US903724AS16 627,000 Ukraine Government USD 7.750 09/01/2025 651,926 0.05% US903724AT98 2,372,000 Ukraine Government USD 7.750 09/01/2026 2,456,206 0.20% US903724AU61 1,402,000 Ukraine Government USD 7.750 09/01/2027 1,449,756 0.12% US903724BM37 2,547,000 Ukraine Government USD 7.375 09/25/2032 2,513,968 0.21% XS1303921487 3,284,000 Ukraine Government USD 7.750 09/01/2023 3,484,340 0.28% XS1303926528 2,244,000 Ukraine Government USD 7.750 09/01/2026 2,323,662 0.19% XS1303927179 3,027,000 Ukraine Government USD 7.750 09/01/2027 3,130,107 0.26% XS1303929894 8,816,000 Ukraine Government USD 0.000 05/31/2040 6,359,917 0.52% XS2015265072 9,977,000 Ukraine Government EUR 6.750 06/20/2026 12,088,852 0.99% XS1261825977 900,000 Ukreximbank Via Biz Finance PLC USD 9.625 04/27/2022 942,071 0.08% US91086QBB32 2,446,000 United Mexican States USD 4.750 03/08/2044 2,561,038 0.21% US91087BAB62 8,944,000 United Mexican States USD 4.350 01/15/2047 8,904,870 0.73% US91087BAE02 6,832,000 United Mexican States USD 3.750 01/11/2028 6,965,224 0.57% US91087BAF76 2,749,000 United Mexican States USD 4.500 04/22/2029 2,950,378 0.24% Fixed Income Total 1,142,203,368 93.39% Credit Linked Notes XS0582500319 266,120,999 Republic of Iraq JPY 2.857 01/01/2028 1,766,077 0.14% XS0818794439 582,950,889 Republic of Iraq JPY 2.550 01/01/2028 3,759,997 0.31% Credit Linked Notes Total 5,526,074 0.45% Short Term Investments US85749P1012 64,226,893 State Street Institutional Liquid Reserves Fund 2.439 64,239,738 5.25% Short Term Investments Total 64,239,738 5.25% Total Investments 1,211,969,180 99.09% Other Assets and Liabilities 11,129,173 0.91% Total Net Assets 1,223,098,353 100.00% Forward Foreign Currency Contracts Unrealized Appreciation Contract to Buy/Sell Delivery Date Currency Units of Currency Value (Depreciation) Buy 07/23/2019 EUR 20,231,358 23,046,408 175,756 Sell 07/23/2019 EUR (118,057,211) (134,484,036) (1,158,547) Sell 07/23/2019 JPY (604,472,300) (5,616,026) (151,737)
Centrally Cleared Credit Default Swap Contracts Buy Protection Upfront Reference Maturity Contract Rate Received Notional Market Premiums Unrealized Appreciation Obligation Date Counterparty Currency by the Fund Amount Value Received/(Paid) (Depreciation) Republic of 06/20/2024 Intercontinental USD 5.000 4,910,000 794,566 (909,742) (115,176) Argentina Exchange Centrally Cleared Credit Default Swap Contracts Sell Protection Upfront Reference Maturity Contract Rate Received Notional Market Premiums Unrealized Appreciation Obligation Date Counterparty Currency by the Fund Amount Value Received/(Paid) (Depreciation) Lebanese 06/20/2023 Intercontinental USD 5.000 20,920,000 (5,200,419) 5,207,819 7,399 Republic Exchange Credit Default Swap Contracts Sell Protection Upfront Reference Maturity Contract Rate Received Notional Market Premiums Unrealized Appreciation Obligation Date Counterparty Currency by the Fund Amount Value Received/(Paid) (Depreciation) Republic of 12/20/2019 Credit Suisse First USD 5.000 1,200,000 6,198 22,546 28,744 Ecuador Boston Key to abbreviations: EUR Euro IDR Indonesian Rupiah JPY Japanese Yen USD U.S. Dollar ^Security is in default and therefore is non income producing Interest rate may be fixed or variable depending on terms of the security. Interest rate disclosed is that which is in effect as of the date of this holdings report Market value and unrealized appreciation (depreciation) are stated in US Dollars unless otherwise noted. The portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in the securities referenced. The portfolio data is for informational purposes only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments. An investment in the Fund involves risk, including loss of principal. Unlike the Fund s regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, the information presented herein may differ from the complete statement of investments included in the annual and semiannual report to shareholders filed with the SEC on Form N CSR, and the complete statement of investments provided in the first and third quarter SEC Form N Q filings for each fiscal year. Stone Harbor Investment Funds are distributed by ALPS Distributors, Inc. An investment in the Funds involves risk, including loss of principal. An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus containing this and other information, please call 1 866 699 8125 or download the file from http://www.shiplp.com/wp content/uploads/shif_prospectus.pdf. Read the prospectus carefully before you invest. SHF000964 EXP 07/30/2020 1300