| HONG KONG(GOVT OF) 1.68% 21/01/2026 | 13.42 | 324,200,000 |
| HK GOVT BOND PROGRAMME 1.25% 29JUN2027 | 10.11 | 249,300,000 |
| HK GOVT BOND PROGRAMME 2.13% 16/07/2030 | 4.73 | 115,100,000 |
| HONG KONG (GOVT OF) 2.02% 07MAR2034 | 3.85 | 98,200,000 |
| HK GOVT BOND PROGRAMME 1.97% 17JAN2029 | 3.70 | 90,000,000 |
| HK GOVT BOND PROGRAMME 1.89% 02MAR2032 | 3.36 | 84,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (REG) (REG S) 4.68% 12SEP2025 | 2.98 | 70,000,000 |
| AIRPORT AUTHORITY HK SER EMTN (REG) (REG S) 3.83% 09JUL2027 | 2.95 | 69,000,000 |
| ASIAN DEVELOPMENT BANK SER EMTN (REG) 4% 28FEB2027 | 2.57 | 60,000,000 |
| MTR CORP LTD SER EMTN (BR) 4.5% 22FEB2025 | 2.53 | 60,000,000 |
| AIRPORT AUTHORITY HK SER EMTN 2.3% 24APR2030 | 2.52 | 63,000,000 |
| MTR CORP CI LTD SER EMTN (BR) (REG S) 2.46% 20SEP2032 | 2.36 | 60,000,000 |
| URBAN RENEWAL AUTHORITY SER EMTN (REG) (REG S) 3.35% 27AUG2027 | 2.35 | 55,500,000 |
| HONG KONG (GOVT OF) 1.59% 04MAR2036 | 2.31 | 63,000,000 |
| HONG KONG (GOVT OF) 3.74% 12JAN2038 | 2.25 | 50,000,000 |
| HONG KONG (GOVT OF) 15Y2608 2.07PCT 26/08/2026 | 2.10 | 50,500,000 |
| HONG KONG (GOVT OF) 3.3% 26MAY2042 | 2.06 | 49,000,000 |
| UNSETTLED SALES - INT BEARING | 1.87 | 44,373,207 |
| AIRPORT AUTHORITY HK (SER EMTN) (BR) 1.55% 30OCT2027 | 1.80 | 45,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (REG) (REG S) 4.25% 28FEB2026 | 1.78 | 42,000,000 |
| URBAN RENEWAL AUTHORITY SER EMTN (REG) (REG S) 3.45% 27AUG2029 | 1.73 | 41,000,000 |
| MTR CORP LTD SER EMTN (REG S) (BR) 4.2% 30APR2031 | 1.55 | 35,000,000 |
| URBAN RENEWAL AUTHORITY SER EMTN (REG) (REG S) 3.55% 27AUG2034 | 1.52 | 36,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (REG) (REG S) 5% 25OCT2024 | 1.35 | 32,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (REG) (REG S) 4.1% 28FEB2029 | 1.30 | 30,000,000 |
| HONG KONG (GOVT) 1.51% 24FEB2027 | 1.30 | 31,800,000 |
| CHINA DEVELOPMENT BK/HK (REG) (REG S) 1.6% 16FEB2025 | 1.29 | 31,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (BR) 4.6% 10MAR2025 | 1.27 | 30,000,000 |
| HONG KONG (GOVT OF) 2.48% 28FEB2029 | 1.15 | 27,500,000 |
| HONG KONG MORTGAGE CORP SER EMTN (REG S) (BR) 3.15% 19MAR2049 | 1.09 | 30,000,000 |
| HONG KONG (GOVT OF) 3.32PCT 25/02/2026 | 1.06 | 25,000,000 |
| EXPORT-IMPORT BANK KOREA SER EMTN (REG S) (BR) 0.9% 13AUG2026 | 0.99 | 25,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (BR) 4.63% 14JUL2026 | 0.94 | 22,000,000 |
| HONG KONG GOVERNMENT BOND 2.39PCT 20/08/2025 | 0.88 | 21,000,000 |
| MTR CORP LTD SER EMTN (REG S) (BR) 4.7% 09MAR2025 | 0.85 | 20,000,000 |
| AIRPORT AUTHORITY HK SER EMTn (REG S) 3.2% 16AUG2027 | 0.84 | 20,000,000 |
| HONG KONG GOVERNMENT BOND 2.49% 22AUG2028 | 0.84 | 20,000,000 |
| HONG KONG (GOVT OF) 1.49% 22FEB2028 | 0.81 | 20,000,000 |
| AIRPORT AUTHORITY HK SER EMTN (REG S) (BR) 1.95% 16JUN2027 | 0.81 | 20,000,000 |
| AIRPORT AUTHORITY HK SER EMTN (REG) (REG S) 1.62% 26JUN2025 | 0.75 | 18,000,000 |
| KOREA EXPRESSWAY CORP SER GMTN 4.06% 12MAY2027 | 0.68 | 16,000,000 |
| HONG KONG MORTGAGE CORP SER GMTN (REG) (REG S) 4.2% 28FEB2034 | 0.67 | 15,000,000 |
| MTR CORP LTD SER EMTN (REG S) 4.2% 01MAR2034 | 0.67 | 15,000,000 |
| HONG KONG MORTGAGE CORP SER EMTN (REG S) (BR) 1.65% 17FEB2025 | 0.63 | 15,000,000 |
| NEW DEVELOPM BANK BRICS SER EMTN (BR) 4.1% 22MAY2026 | 0.59 | 14,000,000 |
| INT ACCRUAL - FIXED BOND | 0.58 | 13,680,374 |
| HONG KONG (GOVT OF) 0.8% 27AUG2027 | 0.52 | 13,000,000 |
| HONG KONG (GOVT OF) 2.24% 27AUG2029 | 0.46 | 11,000,000 |
| AIRPORT AUTHORITY HK SER EMTN (BR) 3.3% 08AUG2027 | 0.42 | 10,000,000 |
| MTR CORP LTD SER EMTN (BR) 3.95% 29MAY2025 | 0.42 | 10,000,000 |
| INTL BK RECON & DEVELOP SER EMTN (REG) 3.73% 07FEB2026 | 0.42 | 10,000,000 |
| INTL BK RECON & DEVELOP SER EMTN 3.965% 28MAR2026 | 0.42 | 10,000,000 |
| MTR CORP LTD SER EMTN (REG S) 4.05% 16FEB2026 | 0.42 | 10,000,000 |
| MTR CORP LTD SER EMTN (BR) 4% 04MAR2029 | 0.35 | 8,000,000 |
| KOREA EXPRESSWAY CORP SER EMTN (REG S) 3.93% 22MAY2030 | 0.21 | 5,000,000 |
| INT ACCRUAL - GOV'T FIXED BOND | 0.20 | 4,667,216 |
| CORP ANDINA DE FOMENTO SER EMTN 3.925% 26FEB2029 | 0.11 | 2,500,000 |
| CHINA DEV BANK CORP 4.47% CD 14JAN2026 | 0.09 | 2,000,000 |
| TIME DEPOSIT | 0.08 | 2,000,000 |
| HBAP OBS ACCOUNT | 0.06 | 1,508,710 |
| AIRPORT AUTHORITY HK SER EMTN (REG) (REG S) 3.83% 09JUL2027 | 0.04 | 1,000,000 |
