<SEC-DOCUMENT>0001398344-23-006239.txt : 20230315
<SEC-HEADER>0001398344-23-006239.hdr.sgml : 20230315
<ACCEPTANCE-DATETIME>20230315160017
ACCESSION NUMBER:		0001398344-23-006239
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230131
FILED AS OF DATE:		20230315
DATE AS OF CHANGE:		20230315
PERIOD START:           	20231031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEXICO FUND INC
		CENTRAL INDEX KEY:			0000065433
		IRS NUMBER:				133069854
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02409
		FILM NUMBER:		23735042

	BUSINESS ADDRESS:	
		STREET 1:		6700 ALEXANDER BELL DRIVE, SUITE 200
		CITY:			COLUMBIA
		STATE:			MD
		ZIP:			21046
		BUSINESS PHONE:		202-261-7941

	MAIL ADDRESS:	
		STREET 1:		77 ARISTOTELES STREET 3RD FLOOR
		CITY:			POLANCO D F
		STATE:			O5
		ZIP:			11560
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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		<isConfidential>false</isConfidential>
		<filerInfo>

			<filer>
				<issuerCredentials>
					<cik>0000065433</cik>
					<ccc>XXXXXXXX</ccc>
				</issuerCredentials>
			</filer>



		</filerInfo>
	</headerData>
	<formData>
		<genInfo>
			<regName>MEXICO FUND INC</regName>
			<regFileNumber>811-02409</regFileNumber>
			<regCik>0000065433</regCik>
			<regLei>00000000000000000000</regLei>
			<regStreet1>6700 Alexander Bell Drive</regStreet1>
			<regStreet2>Suite 200</regStreet2>
			<regCity>Columbia</regCity>
			<regStateConditional regCountry="US" regState="US-MD"/>
			<regZipOrPostalCode>21046</regZipOrPostalCode>
			<regPhone>(202) 261-7941</regPhone>
			<seriesName>Mexico Fund Inc</seriesName>

			<seriesLei>N/A</seriesLei>
			<repPdEnd>2023-10-31</repPdEnd>
			<repPdDate>2023-01-31</repPdDate>
			<isFinalFiling>N</isFinalFiling>
		</genInfo>
		<fundInfo>
			<totAssets>303867794.38</totAssets>
			<totLiabs>344704.57</totLiabs>
			<netAssets>303523089.81</netAssets>
			<assetsAttrMiscSec>0</assetsAttrMiscSec>
			<assetsInvested>0</assetsInvested>
			<amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
			<amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
			<amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
			<amtPayOneYrOther>0</amtPayOneYrOther>
			<amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
			<amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
			<amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
			<amtPayAftOneYrOther>0</amtPayAftOneYrOther>
			<delayDeliv>0</delayDeliv>
			<standByCommit>0</standByCommit>
			<liquidPref>0</liquidPref>
			<cshNotRptdInCorD>0</cshNotRptdInCorD>
			<isNonCashCollateral>N</isNonCashCollateral>
			<returnInfo>
				<monthlyTotReturns>
					<monthlyTotReturn rtn1="15.37" rtn2="-6" rtn3="6.92"/>
				</monthlyTotReturns>
				<monthlyReturnCats/>
				<othMon1 netRealizedGain="572150.99" netUnrealizedAppr="40227283.58"/>
				<othMon2 netRealizedGain="0" netUnrealizedAppr="-17993871.79"/>
				<othMon3 netRealizedGain="510545.79" netUnrealizedAppr="16255375.42"/>
			</returnInfo>
			<mon1Flow redemption="0" reinvestment="0" sales="0"/>
			<mon2Flow redemption="0" reinvestment="0" sales="0"/>
			<mon3Flow redemption="0" reinvestment="0" sales="0"/>
		</fundInfo>
		<invstOrSecs>
			<invstOrSec>
				<name>Alfa, S.A.B. de C.V. (b)</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP000511016"/>
					<ticker value="ALFA-A"/>
				</identifiers>
				<balance>13400000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>9702258.67</valUSD>
				<pctVal>3.196547147511</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Alpek, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01AL0C0004"/>
					<ticker value="ALPEK-A"/>
				</identifiers>
				<balance>3500000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>5536534.23</valUSD>
				<pctVal>1.82408996729</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Alsea, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP001391012"/>
					<ticker value="ALSEA-*"/>
				</identifiers>
				<balance>1000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>2381824.46</valUSD>
				<pctVal>0.784725953249</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>America Movil, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP001691213"/>
					<ticker value="AMX-L"/>
				</identifiers>
				<balance>38000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>39697428.14</valUSD>
				<pctVal>13.078882454127</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Arca Continental, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01AC100006"/>
					<ticker value="AC-*"/>
				</identifiers>
				<balance>750000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>6622342.54</valUSD>
				<pctVal>2.181824962215</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Cemex, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP225611567"/>
					<ticker value="CEMEX-CPO"/>
				</identifiers>
				<balance>28000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>14922631.84</valUSD>
				<pctVal>4.916473355736</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Comerica Bank</name>
				<lei>N/A</lei>
				<title>Time Deposit</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="N/A"/>
				</identifiers>
				<balance>6019382.17</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>5281299</valUSD>
				<pctVal>1.983171090334</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>STIV</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Corporacion Inmobiliaria Vesta, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01VE0M0003"/>
					<ticker value="VESTA-*"/>
				</identifiers>
				<balance>2500000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>6826445.84</valUSD>
				<pctVal>2.249069698065</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>El Puerto de Liverpool, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP369181377"/>
					<ticker value="LIVEPOL-C-1"/>
				</identifiers>
				<balance>1000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>6303580.43</valUSD>
				<pctVal>2.076804250223</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Fomento Economico Mexicano, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP320321310"/>
					<ticker value="FEMSA-UBD"/>
				</identifiers>
				<balance>3100000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>27141969.9</valUSD>
				<pctVal>8.942308117383</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>GCC, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01GC2M0006"/>
					<ticker value="GCC-*"/>
				</identifiers>
				<balance>700000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>5613451.18</valUSD>
				<pctVal>1.849431350723</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Gmexico Transportes, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01GM1Z0019"/>
					<ticker value="GMXT-*"/>
				</identifiers>
				<balance>2000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>4331555.06</valUSD>
				<pctVal>1.42709243716</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Gruma, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP4948K1056"/>
					<ticker value="GRUMA-B"/>
				</identifiers>
				<balance>670000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>9741025.03</valUSD>
				<pctVal>3.209319276321</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Grupo Aeroportuario del Pacifico, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01GA000004"/>
					<ticker value="GAP-B"/>
				</identifiers>
				<balance>680000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>11734543.62</valUSD>
				<pctVal>3.866112336485</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Grupo Aeroportuario delCentro Norte,S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01OM000018"/>
					<ticker value="OMA-B"/>
				</identifiers>
				<balance>950000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>8659102.37</valUSD>
				<pctVal>2.852864464067</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Grupo Bimbo, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP495211262"/>
					<ticker value="BIMBO-A"/>
				</identifiers>
				<balance>2100000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>10480770.76</valUSD>
				<pctVal>3.453039031024</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Grupo Financiero Banorte, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP370711014"/>
					<ticker value="GFNORTE-O"/>
				</identifiers>
				<balance>3600000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>29847599.33</valUSD>
				<pctVal>9.833716224593</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Grupo Mexico, S.A.B. de C.V. (b)</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP370841019"/>
					<ticker value="GMEXICO-B"/>
				</identifiers>
				<balance>5130000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>22803630.86</valUSD>
				<pctVal>7.512980601499</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Industrias Penoles, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP554091415"/>
					<ticker value="PE&amp;OLES-*"/>
				</identifiers>
				<balance>350000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>4985853.44</valUSD>
				<pctVal>1.642660346793</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Kimberly-Clark de Mexico, S.A.B. de C.V. (b)</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXP606941179"/>
					<ticker value="KIMBER-A"/>
				</identifiers>
				<balance>5500000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>10492873.64</valUSD>
				<pctVal>3.457026497021</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>La Comer, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01LA050010"/>
					<ticker value="LACOMER-UBC"/>
				</identifiers>
				<balance>3800000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>8453857.79</valUSD>
				<pctVal>2.785243717285</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Nemak, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01NE000001"/>
					<ticker value="NEMAK-A"/>
				</identifiers>
				<balance>17000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>5468588.26</valUSD>
				<pctVal>1.801704200844</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Orbia Advance Corporation SAB de CV</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01OR010004"/>
					<ticker value="ORBIA-*"/>
				</identifiers>
				<balance>4000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>8009130.24</valUSD>
				<pctVal>2.638721899044</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Repurchase Agreement</name>
				<lei>N/A</lei>
				<title>Repurchase Agreement</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MXBIGO000TM9"/>
					<ticker value="CETES"/>
				</identifiers>
				<balance>5602660</balance>
				<units>PA</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>5602660</valUSD>
				<pctVal>1.845876042952</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>STIV</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<repurchaseAgrmt>
					<transCat>Repurchase</transCat>
					<clearedCentCparty centralCounterparty="BBVA Mexico, S.A." isCleared="Y"/>
					<isTriParty>Y</isTriParty>
					<repurchaseRt>10.35</repurchaseRt>
					<maturityDt>2023-02-01</maturityDt>
					<repurchaseCollaterals>
						<repurchaseCollateral>
							<principalAmt>5602660</principalAmt>
							<principalCd>MXN</principalCd>
							<collateralVal>5648449</collateralVal>
							<collateralCd>MXN</collateralCd>
							<invstCatConditional desc="Bonds issued by the Mexican Government" invstCat="Other instrument"/>
						</repurchaseCollateral>
					</repurchaseCollaterals>
				</repurchaseAgrmt>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Sitios Latinoamerica, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01LA080009"/>
					<ticker value="LASITE-B-1"/>
				</identifiers>
				<balance>2000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>924702.07</valUSD>
				<pctVal>0.304656252187</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Ternium, S.A. ADR (c)</name>
				<lei>N/A</lei>
				<title>American Depository Receipt (ADR)</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="US8808901081"/>
					<ticker value="TX-*"/>
				</identifiers>
				<balance>120000</balance>
				<units>NS</units>
				<curCd>USD</curCd>
				<valUSD>4841977.86</valUSD>
				<pctVal>1.595258490124</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>LU</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Wal-Mart de Mexico, S.A.B. de C.V.</name>
				<lei>N/A</lei>
				<title>COMMON STOCK</title>
				<cusip>N/A</cusip>
				<identifiers>
					<isin value="MX01WA000038"/>
					<ticker value="WALMEX-*"/>
				</identifiers>
				<balance>7000000</balance>
				<units>NS</units>
				<currencyConditional curCd="MXN" exchangeRt="18.8384"/>
				<valUSD>27407702.31</valUSD>
				<pctVal>9.029857440285</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>EC</assetCat>
				<issuerCat>CORP</issuerCat>
				<invCountry>MX</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
		</invstOrSecs>
		<signature>
			<ncom:dateSigned>2023-03-15</ncom:dateSigned>
			<ncom:nameOfApplicant>MEXICO FUND INC</ncom:nameOfApplicant>
			<ncom:signature>/s/ Tofi Dayan</ncom:signature>
			<ncom:signerName>Tofi Dayan</ncom:signerName>
			<ncom:title>Treasurer</ncom:title>
		</signature>
	</formData>
	<documents>XXXX</documents>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>fp0082384-1_nportex.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt; color: Black"><B>SCHEDULE
OF INVESTMENTS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>as
of January 31, 2023 (Unaudited)</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Shares</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Value</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Percent of</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Held</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">(Note 1)</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Net Assets</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">COMMON STOCK&nbsp;&nbsp;&nbsp;96.51%</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Airports</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">680,000</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 55%; color: Black; text-align: left"><FONT STYLE="color: Black">Grupo Aeroportuario del Pac&iacute;fico, S.A.B.
    de C.V. Series B</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">11,734,544</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">3.87</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">950,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Grupo Aeroportuario del Centro Norte,
    S.A.B. de C.V. Series B</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">8,659,102</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">2.85</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">20,393,646</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">6.72</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Auto Parts</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">17,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Nemak, S.A.B. de C.V. Series A (a)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">5,468,588</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">1.80</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Beverages</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">750,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">Arca Continental, S.A.B. de C.V.</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">6,622,343</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">2.18</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">3,100,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Fomento Econ&oacute;mico Mexicano, S.A.B.
    de C.V. Series UBD</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">27,141,970</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">8.94</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">33,764,313</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">11.12</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Building Materials</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">28,000,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">Cemex, S.A.B. de C.V. Series CPO (a)</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">14,922,632</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">4.92</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">700,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">GCC, S.A.B. de C.V.</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">5,613,451</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">1.85</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">20,536,083</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">6.77</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Chemical Products</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">3,500,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">Alpek, S.A.B. de C.V. Series A</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">5,536,534</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">1.82</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">4,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Orbia Advance Corporation, S.A.B. de C.V.</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">8,009,130</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">2.64</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">13,545,664</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">4.46</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Consumer Products</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">5,500,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Kimberly-Clark de M&eacute;xico, S.A.B.
    de C.V. (b) Series A</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">10,492,874</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">3.46</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Financial Groups</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">3,600,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Grupo Financiero Banorte, S.A.B. de C.V.
    Series O</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">29,847,599</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">9.83</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Food</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">670,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">Gruma, S.A.B. de C.V. Series B</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">9,741,025</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">3.21</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">2,100,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Grupo Bimbo, S.A.B. de C.V. Series A</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">10,480,771</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">3.45</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">20,221,796</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">6.66</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Holding Companies</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">13,400,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Alfa, S.A.B. de C.V. (b) Series A</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">9,702,259</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">3.20</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Mining</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">5,130,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">Grupo M&eacute;xico, S.A.B. de C.V. (b) Series B</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">22,803,631</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">7.51</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">350,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Industrias Pe&ntilde;oles, S.A.B. de C.V.
    (a)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">4,985,853</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">1.64</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">27,789,484</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">9.15</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Railroad</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">2,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Gm&eacute;xico Transportes, S.A.B. de
    C.V.</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">4,331,555</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">1.43</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Real Estate</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">2,500,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Corporaci&oacute;n Inmobiliaria Vesta,
    S.A.B. de C.V.</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">6,826,446</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">2.25</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Restaurants</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">1,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Alsea, S.A.B. de C.V. (a)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">2,381,824</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">0.78</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt; color: Black"><B>SCHEDULE
OF INVESTMENTS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>as
of January 31, 2023 (Unaudited) <I>concluded</I></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Shares</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Value</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Percent of</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Held</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">(Note 1)</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Net Assets</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Retail</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">1,000,000</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 55%; color: Black; text-align: left"><FONT STYLE="color: Black">El Puerto de Liverpool, S.A.B. de C.V. Series C-1</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">6,303,580</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">2.08</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">3,800,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">La Comer, S.A.B. de C.V. Series UBC</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">8,453,858</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">2.79</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">7,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Wal-Mart de M&eacute;xico, S.A.B. de C.V.</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">27,407,702</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">9.03</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">42,165,140</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">13.90</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">Steel</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">120,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Ternium, S.A. ADR (c)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">4,841,978</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">1.60</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Telecommunications Services</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">38,000,000</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">Am&eacute;rica M&oacute;vil, S.A.B. de C.V. Series L</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">39,697,428</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">13.08</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">2,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Sitios Latinoam&eacute;rica, S.A.B. de
    C.V. Series B-1 (a)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">924,702</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">0.30</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">40,622,130</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">13.38</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="color: Black">Total Common Stock (Identified cost
    - $278,215,553)</FONT></TD><TD STYLE="color: Black; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right"><FONT STYLE="color: Black">292,931,379</FONT></TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right"><FONT STYLE="color: Black">96.51</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: Black; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>Principal</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>Amount</B></FONT></P></TD><TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>Value</B></FONT></P> <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>(Note
                                            1)</B></FONT></P></TD><TD STYLE="text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Percent of <BR>
    Net Assets</FONT></TD><TD STYLE="color: Black; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">SHORT-TERM SECURITIES &ndash; 3.59%</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Repurchase Agreements</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 1%; padding-bottom: 1pt; color: Black; text-align: left; vertical-align: top"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 12%; padding-bottom: 1pt; color: Black; text-align: right; vertical-align: top"><FONT STYLE="color: Black">5,602,660</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 55%; color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">BBVA M&eacute;xico, S.A.,
    10.35%, dated 1/31/23, due 2/1/23 repurchase price $5,604,271 collateralized by Cetes (Bonds issued by the Mexican Government), interest
    rate 11.01% (d), due 4/20/2023. Value of collateral $5,648,449.</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">5,602,660</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">1.85</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>Time
                                 Deposits</B></FONT></P></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">5,281,299</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Comerica Bank, 4.09%, dated 1/31/23, due
    2/1/23</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">5,281,299</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">1.74</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Total Short-Term Securities (Identified
    cost - $10,883,959)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">10,883,959</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">3.59</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Total Investments <FONT STYLE="font-style: normal; font-weight: normal">(Identified
    cost - $289,099,512)</FONT></FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">303,815,338</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">100.10</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Liabilities in Excess of Other Assets</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">(292,248</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right"><FONT STYLE="color: Black">(0.10</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="color: Black">Net Assets <FONT STYLE="font-style: normal; font-weight: normal">Equivalent
    to $20.23 per share on 15,005,224 shares of capital stock outstanding.</FONT></FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="color: Black">303,523,090</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="color: Black">100.00</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="color: Black">%</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif">
<TD STYLE="width: 0%; font: 11pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 20pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">(a)</FONT></TD><TD STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Shares
                                            of these securities are currently non-income producing. Equity investments that have not
                                            paid distributions within the last twelve months are considered to be non-income producing.</FONT></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">A
                                            member of the Board also serves as a member of the company&rsquo;s board of directors.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">ADR
                                            &ndash; American Depositary Receipt</FONT></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Floating
                                            rate security. Rate shown is the rate in real terms (after considering the inflation rate)
                                            in effect as of January 31, 2023.</FONT></TD>
</TR></TABLE>




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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>Information
</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">GAAP
establishes a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the
Fund&rsquo;s own market assumptions (unobservable inputs). These inputs are used in determining the value of the Fund&rsquo;s investments
and are summarized in the following fair value hierarchy:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 11pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 12.2pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&bull;</FONT></TD><TD STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Level
                                            1 &mdash; quoted prices in active markets for identical securities</FONT></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 11pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 12.2pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&bull;</FONT></TD><TD STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Level
                                            2 &mdash; other significant observable inputs (including quoted prices for similar securities,
                                            interest rates, prepayment speeds, credit risk, etc.)</FONT></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 11pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 12.2pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&bull;</FONT></TD><TD STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Level
                                            3 &mdash; significant unobservable inputs (including the Fund&rsquo;s own assumptions in
                                            determining the fair value of investments)</FONT></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">The
inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
An investment&rsquo;s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate,
that is significant to the fair value measurement.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">The
following is a summary of the inputs used as of January 31, 2023, in valuing the Fund&rsquo;s investments in securities:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: justify; padding-bottom: 1pt"><FONT STYLE="color: Black">Valuation&nbsp;Inputs</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">LEVEL 1</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">LEVEL 2</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">LEVEL&nbsp;3</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: Black; text-align: justify; border-bottom: Black 1pt solid"><FONT STYLE="color: Black">TOTAL</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; font-weight: bold; text-align: justify"><FONT STYLE="color: Black">ASSETS:</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Investments in Securities:</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 40%; color: Black; text-align: justify"><FONT STYLE="color: Black">Equity Investments(a)</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">292,931,379</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">292,931,379</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Short Term Investments(b)</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">10.883,959</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">10,883,959</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Total Investments in Securities</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">292,931,379</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">10,883,959</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">303,523,090</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 20pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">For
                                            detailed industry descriptions, see the accompanying Schedule of Investments</FONT></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #1C2A3D"><TR STYLE="vertical-align: top; font: 11pt Times New Roman, Times, Serif">
<TD STYLE="width: 0%; font: 11pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 20pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">(b)</FONT></TD><TD STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">These
                                            assets consist of time deposits and repurchase agreements with maturities of one business
                                            day. They are classified as Level 2 solely as a result of the Fund&rsquo;s valuation technique
                                            for short-term investments, using amortized cost which approximates fair value, instead of
                                            quoted prices in active markets, and thereby may not present any higher risk than Level 1
                                            assets.</FONT></TD></TR></TABLE>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">The
following is a reconciliation of the change in value of Level 3 assets (for which significant unobservable inputs were used to determine
fair value):</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1C2A3D"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: justify; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><B>Investments&nbsp;in<BR>
    Securities</B></FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 85%; color: Black; text-align: justify"><FONT STYLE="color: Black">Balance as of 10/31/22</FONT></TD><TD STYLE="width: 1%; color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 12%; color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="width: 1%; color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Realized gain (loss)</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Change in unrealized appreciation (depreciation)</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Net Purchases (Sales)</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Transfers in and/or (out) of Level 3</FONT></TD><TD><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: justify"><FONT STYLE="color: Black">Balance as of 1/31/23</FONT></TD><TD STYLE="color: Black"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: Black; text-align: left"></TD><TD STYLE="color: Black; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="color: Black; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>










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