|
Principal
Amount ($) (a)
|
|
Value ($)
|
|
|
|
|
Consumer Discretionary 17.3%
|
|
AMC Entertainment, Inc., 8.75%, 6/1/2019
|
|
|
1,280,000
|
|
1,368,000
|
|
AMC Networks, Inc., 7.75%, 7/15/2021
|
|
|
720,000
|
|
810,000
|
|
AmeriGas Finance LLC:
|
|
|
|
|
|
|
|
|
|
6.75%, 5/20/2020 (b)
|
|
|
4,215,000
|
|
4,604,887
|
|
|
7.0%, 5/20/2022
|
|
|
3,260,000
|
|
3,537,100
|
|
APX Group, Inc.:
|
|
|
|
|
|
|
|
|
|
6.375%, 12/1/2019
|
|
|
1,895,000
|
|
1,923,425
|
|
|
144A, 8.75%, 12/1/2020
|
|
|
240,000
|
|
244,200
|
|
Asbury Automotive Group, Inc., 8.375%, 11/15/2020
|
|
|
3,960,000
|
|
4,450,050
|
|
Ashtead Capital, Inc., 144A, 6.5%, 7/15/2022
|
|
|
3,750,000
|
|
3,998,437
|
|
Ashton Woods U.S.A. LLC, 144A, 6.875%, 2/15/2021
|
|
|
3,130,000
|
|
3,090,875
|
|
Avis Budget Car Rental LLC, 5.5%, 4/1/2023 (b)
|
|
|
1,845,000
|
|
1,787,344
|
|
BC Mountain LLC, 144A, 7.0%, 2/1/2021 (b)
|
|
|
1,870,000
|
|
1,888,700
|
|
Block Communications, Inc., 144A, 7.25%, 2/1/2020
|
|
|
3,469,000
|
|
3,677,140
|
|
Boyd Gaming Corp., 9.0%, 7/1/2020 (b)
|
|
|
1,400,000
|
|
1,533,000
|
|
Cablevision Systems Corp., 8.0%, 4/15/2020 (b)
|
|
|
520,000
|
|
581,100
|
|
Caesar's Entertainment Operating Co., Inc.:
|
|
|
|
|
|
|
|
|
|
8.5%, 2/15/2020
|
|
|
6,905,000
|
|
6,646,062
|
|
|
9.0%, 2/15/2020 (b)
|
|
|
2,380,000
|
|
2,314,550
|
|
Carlson Wagonlit BV, 144A, 6.875%, 6/15/2019
|
|
|
1,935,000
|
|
2,007,563
|
|
CCO Holdings LLC:
|
|
|
|
|
|
|
|
|
|
6.5%, 4/30/2021
|
|
|
2,680,000
|
|
2,753,700
|
|
|
6.625%, 1/31/2022
|
|
|
4,060,000
|
|
4,181,800
|
|
|
7.0%, 1/15/2019 (b)
|
|
|
6,185,000
|
|
6,517,444
|
|
|
7.375%, 6/1/2020
|
|
|
490,000
|
|
530,425
|
|
|
8.125%, 4/30/2020
|
|
|
1,200,000
|
|
1,302,000
|
|
CDR DB Sub, Inc., 144A, 7.75%, 10/15/2020
|
|
|
2,140,000
|
|
2,129,300
|
|
Cequel Communications Holdings I LLC:
|
|
|
|
|
|
|
|
|
|
144A, 5.125%, 12/15/2021
|
|
|
3,515,000
|
|
3,295,312
|
|
|
144A, 6.375%, 9/15/2020
|
|
|
10,810,000
|
|
11,080,250
|
|
Chester Downs & Marina LLC, 144A, 9.25%, 2/1/2020 (b)
|
|
|
1,300,000
|
|
1,303,250
|
|
Clear Channel Communications, Inc., 11.25%, 3/1/2021
|
|
|
2,510,000
|
|
2,698,250
|
|
Clear Channel Worldwide Holdings, Inc.:
|
|
|
|
|
|
|
|
|
|
Series A, 6.5%, 11/15/2022
|
|
|
2,270,000
|
|
2,301,213
|
|
|
Series B, 6.5%, 11/15/2022
|
|
|
3,380,000
|
|
3,451,825
|
|
|
Series A, 7.625%, 3/15/2020
|
|
|
990,000
|
|
1,029,600
|
|
|
Series B, 7.625%, 3/15/2020 (b)
|
|
|
10,455,000
|
|
10,990,819
|
|
Cogeco Cable, Inc., 144A, 4.875%, 5/1/2020
|
|
|
200,000
|
|
193,000
|
|
Crown Media Holdings, Inc., 10.5%, 7/15/2019
|
|
|
2,370,000
|
|
2,689,950
|
|
Cumulus Media Holdings, Inc., 7.75%, 5/1/2019 (b)
|
|
|
3,329,000
|
|
3,512,095
|
|
DISH DBS Corp.:
|
|
|
|
|
|
|
|
|
|
4.25%, 4/1/2018
|
|
|
2,475,000
|
|
2,524,500
|
|
|
5.0%, 3/15/2023
|
|
|
3,110,000
|
|
2,900,075
|
|
|
6.75%, 6/1/2021
|
|
|
4,420,000
|
|
4,685,200
|
|
|
7.875%, 9/1/2019
|
|
|
4,165,000
|
|
4,768,925
|
|
GLP Capital LP, 144A, 4.375%, 11/1/2018
|
|
|
840,000
|
|
858,900
|
|
Griffey Intermediate, Inc., 144A, 7.0%, 10/15/2020 (b)
|
|
|
3,760,000
|
|
2,979,800
|
|
Harron Communications LP, 144A, 9.125%, 4/1/2020
|
|
|
3,705,000
|
|
4,103,287
|
|
Hertz Corp., 6.75%, 4/15/2019
|
|
|
2,680,000
|
|
2,887,700
|
|
Hertz Holdings Netherlands BV, 144A, 4.375%, 1/15/2019
|
EUR
|
|
5,500,000
|
|
7,575,804
|
|
Hot Topic, Inc., 144A, 9.25%, 6/15/2021
|
|
|
1,380,000
|
|
1,445,550
|
|
Jo-Ann Stores Holdings, Inc., 144A, 9.75%, 10/15/2019 (PIK)
|
|
|
4,450,000
|
|
4,655,812
|
|
Libbey Glass, Inc., 6.875%, 5/15/2020
|
|
|
1,049,000
|
|
1,132,920
|
|
Live Nation Entertainment, Inc., 144A, 7.0%, 9/1/2020
|
|
|
3,160,000
|
|
3,428,600
|
|
MDC Partners, Inc., 144A, 6.75%, 4/1/2020
|
|
|
2,105,000
|
|
2,202,356
|
|
Mediacom Broadband LLC, 6.375%, 4/1/2023
|
|
|
5,830,000
|
|
5,961,175
|
|
Mediacom LLC, 7.25%, 2/15/2022
|
|
|
995,000
|
|
1,054,700
|
|
MGM Resorts International:
|
|
|
|
|
|
|
|
|
|
6.625%, 12/15/2021 (b)
|
|
|
5,720,000
|
|
6,048,900
|
|
|
6.75%, 10/1/2020 (b)
|
|
|
1,625,000
|
|
1,738,750
|
|
|
8.625%, 2/1/2019
|
|
|
7,695,000
|
|
9,022,387
|
|
|
10.0%, 11/1/2016
|
|
|
1,795,000
|
|
2,154,000
|
|
Midcontinent Communications & Midcontinent Finance Corp., 144A, 6.25%, 8/1/2021
|
|
|
1,820,000
|
|
1,833,650
|
|
PETCO Animal Supplies, Inc., 144A, 9.25%, 12/1/2018
|
|
|
2,515,000
|
|
2,697,337
|
|
PNK Finance Corp., 144A, 6.375%, 8/1/2021
|
|
|
2,265,000
|
|
2,315,963
|
|
Quebecor Media, Inc., 5.75%, 1/15/2023
|
|
|
1,885,000
|
|
1,823,738
|
|
Rent-A-Center, Inc., 4.75%, 5/1/2021
|
|
|
1,380,000
|
|
1,295,475
|
|
Sabre Holdings Corp., 8.35%, 3/15/2016
|
|
|
2,560,000
|
|
2,854,400
|
|
Schaeffler Finance BV, 144A, 7.75%, 2/15/2017
|
|
|
3,655,000
|
|
4,148,425
|
|
Seminole Hard Rock Entertainment, Inc., 144A, 5.875%, 5/15/2021
|
|
|
1,150,000
|
|
1,129,875
|
|
Seminole Indian Tribe of Florida, Inc., 144A, 7.804%, 10/1/2020
|
|
|
2,715,000
|
|
2,972,925
|
|
Serta Simmons Holdings LLC, 144A, 8.125%, 10/1/2020 (b)
|
|
|
2,170,000
|
|
2,359,875
|
|
Sirius XM Holdings, Inc., 144A, 5.875%, 10/1/2020 (b)
|
|
|
1,865,000
|
|
1,902,300
|
|
SIWF Merger Sub, Inc., 144A, 6.25%, 6/1/2021 (b)
|
|
|
2,765,000
|
|
2,789,194
|
|
Starz LLC, 5.0%, 9/15/2019
|
|
|
1,545,000
|
|
1,579,763
|
|
Taylor Morrison Communities, Inc., 144A, 5.25%, 4/15/2021 (b)
|
|
|
2,305,000
|
|
2,241,613
|
|
Travelport LLC:
|
|
|
|
|
|
|
|
|
|
144A, 6.364% **, 3/1/2016
|
|
|
1,541,943
|
|
1,549,653
|
|
|
144A, 13.875%, 3/1/2016 (PIK)
|
|
|
413,082
|
|
437,867
|
|
UCI International, Inc., 8.625%, 2/15/2019
|
|
|
2,740,000
|
|
2,740,000
|
|
Unitymedia Hessen GmbH & Co., KG:
|
|
|
|
|
|
|
|
|
|
144A, 5.5%, 1/15/2023
|
|
|
8,260,000
|
|
8,012,200
|
|
|
144A, 7.5%, 3/15/2019
|
|
|
3,805,000
|
|
4,137,937
|
|
|
144A, 7.5%, 3/15/2019
|
EUR
|
|
2,000,000
|
|
2,992,311
|
|
Unitymedia KabelBW GmbH, 144A, 9.625%, 12/1/2019
|
EUR
|
|
6,670,000
|
|
10,162,326
|
|
Univision Communications, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 6.875%, 5/15/2019
|
|
|
480,000
|
|
513,000
|
|
|
144A, 7.875%, 11/1/2020
|
|
|
4,065,000
|
|
4,466,419
|
|
|
144A, 8.5%, 5/15/2021 (b)
|
|
|
1,690,000
|
|
1,859,000
|
|
Viking Cruises Ltd., 144A, 8.5%, 10/15/2022
|
|
|
1,880,000
|
|
2,124,400
|
|
Visant Corp., 10.0%, 10/1/2017 (b)
|
|
|
3,535,000
|
|
3,428,950
|
|
Visteon Corp., 6.75%, 4/15/2019
|
|
|
1,387,000
|
|
1,473,688
|
|
|
|
252,394,291
|
|
Consumer Staples 5.5%
|
|
B&G Foods, Inc., 4.625%, 6/1/2021
|
|
|
2,300,000
|
|
2,208,000
|
|
Chiquita Brands International, Inc., 144A, 7.875%, 2/1/2021 (b)
|
|
|
1,760,000
|
|
1,905,200
|
|
Del Monte Corp., 7.625%, 2/15/2019
|
|
|
3,305,000
|
|
3,433,069
|
|
FAGE Dairy Industry SA, 144A, 9.875%, 2/1/2020 (b)
|
|
|
6,410,000
|
|
6,698,450
|
|
Hawk Acquisition Sub, Inc., 144A, 4.25%, 10/15/2020 (b)
|
|
|
6,930,000
|
|
6,704,775
|
|
JBS Investments GmbH, 144A, 7.75%, 10/28/2020
|
|
|
3,600,000
|
|
3,636,000
|
|
JBS U.S.A. LLC:
|
|
|
|
|
|
|
|
|
|
144A, 7.25%, 6/1/2021
|
|
|
4,670,000
|
|
4,856,800
|
|
|
144A, 8.25%, 2/1/2020
|
|
|
1,450,000
|
|
1,573,250
|
|
Michael Foods Group, Inc., 9.75%, 7/15/2018
|
|
|
3,240,000
|
|
3,523,500
|
|
Pilgrim's Pride Corp., 7.875%, 12/15/2018
|
|
|
2,605,000
|
|
2,839,450
|
|
Reynolds Group Issuer, Inc.:
|
|
|
|
|
|
|
|
|
|
5.75%, 10/15/2020
|
|
|
3,820,000
|
|
3,896,400
|
|
|
6.875%, 2/15/2021
|
|
|
9,230,000
|
|
9,945,325
|
|
|
7.125%, 4/15/2019
|
|
|
3,240,000
|
|
3,450,600
|
|
|
8.25%, 2/15/2021 (b)
|
|
|
1,750,000
|
|
1,868,125
|
|
Roundy's Supermarkets, Inc., 144A, 10.25%, 12/15/2020
|
|
|
1,930,000
|
|
1,968,600
|
|
Smithfield Foods, Inc.:
|
|
|
|
|
|
|
|
|
|
6.625%, 8/15/2022
|
|
|
1,990,000
|
|
2,109,400
|
|
|
7.75%, 7/1/2017 (b)
|
|
|
5,025,000
|
|
5,891,812
|
|
Sun Products Corp., 144A, 7.75%, 3/15/2021
|
|
|
3,220,000
|
|
2,833,600
|
|
U.S. Foods, Inc., 8.5%, 6/30/2019 (b)
|
|
|
3,350,000
|
|
3,668,250
|
|
Viskase Companies, Inc., 144A, 9.875%, 1/15/2018
|
|
|
7,215,000
|
|
7,584,408
|
|
|
|
80,595,014
|
|
Energy 15.3%
|
|
Access Midstream Partners LP:
|
|
|
|
|
|
|
|
|
|
4.875%, 5/15/2023
|
|
|
3,343,000
|
|
3,225,995
|
|
|
6.125%, 7/15/2022
|
|
|
2,970,000
|
|
3,177,900
|
|
Antero Resources Finance Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 5.375%, 11/1/2021
|
|
|
1,925,000
|
|
1,944,250
|
|
|
7.25%, 8/1/2019
|
|
|
1,567,000
|
|
1,684,525
|
|
Arch Coal, Inc., 7.0%, 6/15/2019 (b)
|
|
|
950,000
|
|
755,250
|
|
Berry Petroleum Co.:
|
|
|
|
|
|
|
|
|
|
6.375%, 9/15/2022
|
|
|
1,850,000
|
|
1,882,375
|
|
|
6.75%, 11/1/2020
|
|
|
3,265,000
|
|
3,387,437
|
|
BreitBurn Energy Partners LP:
|
|
|
|
|
|
|
|
|
|
7.875%, 4/15/2022
|
|
|
6,265,000
|
|
6,515,600
|
|
|
8.625%, 10/15/2020
|
|
|
1,760,000
|
|
1,892,000
|
|
Chaparral Energy, Inc.:
|
|
|
|
|
|
|
|
|
|
7.625%, 11/15/2022
|
|
|
4,185,000
|
|
4,477,950
|
|
|
8.25%, 9/1/2021
|
|
|
2,659,000
|
|
2,885,015
|
|
Chesapeake Oilfield Operating LLC, 6.625%, 11/15/2019
|
|
|
1,380,000
|
|
1,445,550
|
|
CITGO Petroleum Corp., 144A, 11.5%, 7/1/2017
|
|
|
4,500,000
|
|
4,927,500
|
|
Crestwood Midstream Partners LP:
|
|
|
|
|
|
|
|
|
|
144A, 6.125%, 3/1/2022
|
|
|
1,445,000
|
|
1,481,125
|
|
|
7.75%, 4/1/2019
|
|
|
2,340,000
|
|
2,538,900
|
|
Crosstex Energy LP:
|
|
|
|
|
|
|
|
|
|
7.125%, 6/1/2022 (b)
|
|
|
925,000
|
|
1,052,188
|
|
|
8.875%, 2/15/2018 (b)
|
|
|
2,765,000
|
|
2,906,706
|
|
Denbury Resources, Inc., 4.625%, 7/15/2023
|
|
|
1,975,000
|
|
1,782,438
|
|
Dresser-Rand Group, Inc., 6.5%, 5/1/2021
|
|
|
3,345,000
|
|
3,562,425
|
|
Endeavor Energy Resources LP, 144A, 7.0%, 8/15/2021
|
|
|
2,715,000
|
|
2,742,150
|
|
EP Energy LLC:
|
|
|
|
|
|
|
|
|
|
6.875%, 5/1/2019
|
|
|
3,085,000
|
|
3,320,231
|
|
|
7.75%, 9/1/2022
|
|
|
1,670,000
|
|
1,870,400
|
|
|
9.375%, 5/1/2020
|
|
|
1,415,000
|
|
1,632,556
|
|
EPE Holdings LLC, 144A, 8.875%, 12/15/2017 (PIK)
|
|
|
4,607,206
|
|
4,733,904
|
|
EV Energy Partners LP, 8.0%, 4/15/2019 (b)
|
|
|
7,815,000
|
|
7,854,075
|
|
Frontier Oil Corp., 6.875%, 11/15/2018
|
|
|
240,000
|
|
258,900
|
|
Halcon Resources Corp.:
|
|
|
|
|
|
|
|
|
|
8.875%, 5/15/2021 (b)
|
|
|
5,155,000
|
|
5,206,550
|
|
|
9.75%, 7/15/2020
|
|
|
8,665,000
|
|
9,033,262
|
|
|
144A, 9.75%, 7/15/2020
|
|
|
1,930,000
|
|
2,009,613
|
|
Holly Energy Partners LP:
|
|
|
|
|
|
|
|
|
|
6.5%, 3/1/2020
|
|
|
990,000
|
|
1,034,550
|
|
|
8.25%, 3/15/2018
|
|
|
2,670,000
|
|
2,816,850
|
|
Kodiak Oil & Gas Corp., 5.5%, 1/15/2021 (b)
|
|
|
3,650,000
|
|
3,640,875
|
|
Linn Energy LLC:
|
|
|
|
|
|
|
|
|
|
6.5%, 5/15/2019
|
|
|
3,095,000
|
|
3,156,900
|
|
|
144A, 7.0%, 11/1/2019
|
|
|
6,880,000
|
|
6,948,800
|
|
MEG Energy Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 6.375%, 1/30/2023
|
|
|
2,360,000
|
|
2,374,750
|
|
|
144A, 6.5%, 3/15/2021
|
|
|
1,880,000
|
|
1,978,700
|
|
|
144A, 7.0%, 3/31/2024
|
|
|
4,640,000
|
|
4,698,000
|
|
Midstates Petroleum Co., Inc.:
|
|
|
|
|
|
|
|
|
|
9.25%, 6/1/2021
|
|
|
4,650,000
|
|
4,859,250
|
|
|
10.75%, 10/1/2020
|
|
|
5,295,000
|
|
5,758,312
|
|
Murphy Oil U.S.A., Inc., 144A, 6.0%, 8/15/2023
|
|
|
2,710,000
|
|
2,723,550
|
|
Murray Energy Corp., 144A, 8.625%, 6/15/2021
|
|
|
460,000
|
|
476,100
|
|
Northern Oil & Gas, Inc., 8.0%, 6/1/2020 (b)
|
|
|
5,340,000
|
|
5,593,650
|
|
Oasis Petroleum, Inc.:
|
|
|
|
|
|
|
|
|
|
6.5%, 11/1/2021
|
|
|
3,540,000
|
|
3,787,800
|
|
|
144A, 6.875%, 3/15/2022
|
|
|
3,735,000
|
|
3,959,100
|
|
|
6.875%, 1/15/2023
|
|
|
1,120,000
|
|
1,192,800
|
|
|
7.25%, 2/1/2019 (b)
|
|
|
5,875,000
|
|
6,315,625
|
|
Offshore Group Investment Ltd.:
|
|
|
|
|
|
|
|
|
|
7.125%, 4/1/2023 (b)
|
|
|
3,680,000
|
|
3,753,600
|
|
|
7.5%, 11/1/2019 (b)
|
|
|
6,815,000
|
|
7,411,312
|
|
Pacific Drilling SA, 144A, 5.375%, 6/1/2020
|
|
|
2,300,000
|
|
2,311,500
|
|
QEP Resources, Inc., 5.25%, 5/1/2023
|
|
|
685,000
|
|
642,188
|
|
Range Resources Corp., 5.0%, 8/15/2022
|
|
|
5,000,000
|
|
4,912,500
|
|
Sabine Pass Liquefaction LLC:
|
|
|
|
|
|
|
|
|
|
144A, 5.625%, 2/1/2021
|
|
|
6,465,000
|
|
6,319,537
|
|
|
144A, 5.625%, 4/15/2023
|
|
|
1,405,000
|
|
1,313,675
|
|
SandRidge Energy, Inc., 7.5%, 3/15/2021
|
|
|
11,545,000
|
|
12,093,387
|
|
SESI LLC:
|
|
|
|
|
|
|
|
|
|
6.375%, 5/1/2019
|
|
|
1,925,000
|
|
2,054,938
|
|
|
7.125%, 12/15/2021
|
|
|
6,355,000
|
|
7,085,825
|
|
Swift Energy Co., 7.875%, 3/1/2022 (b)
|
|
|
2,730,000
|
|
2,702,700
|
|
Talos Production LLC, 144A, 9.75%, 2/15/2018
|
|
|
3,640,000
|
|
3,721,900
|
|
Tesoro Corp., 5.375%, 10/1/2022 (b)
|
|
|
1,440,000
|
|
1,458,000
|
|
Ultra Petroleum Corp., 144A, 5.75%, 12/15/2018
|
|
|
815,000
|
|
837,413
|
|
Venoco, Inc., 8.875%, 2/15/2019
|
|
|
4,695,000
|
|
4,624,575
|
|
Welltec AS, 144A, 8.0%, 2/1/2019
|
|
|
2,800,000
|
|
2,968,000
|
|
Whiting Petroleum Corp., 5.0%, 3/15/2019
|
|
|
2,335,000
|
|
2,387,538
|
|
WPX Energy, Inc., 5.25%, 1/15/2017
|
|
|
4,850,000
|
|
5,177,375
|
|
|
|
223,278,345
|
|
Financials 4.3%
|
|
AerCap Aviation Solutions BV, 6.375%, 5/30/2017 (b)
|
|
|
4,210,000
|
|
4,557,325
|
|
Ally Financial, Inc., 5.5%, 2/15/2017
|
|
|
3,490,000
|
|
3,777,925
|
|
CIT Group, Inc., 5.0%, 8/1/2023
|
|
|
14,965,000
|
|
14,403,812
|
|
E*TRADE Financial Corp.:
|
|
|
|
|
|
|
|
|
|
6.375%, 11/15/2019
|
|
|
5,395,000
|
|
5,792,881
|
|
|
6.75%, 6/1/2016
|
|
|
6,070,000
|
|
6,585,950
|
|
Hellas Telecommunications Finance, 144A, 8.227% **, 7/15/2015 (PIK) *
|
EUR
|
|
2,522,281
|
|
0
|
|
International Lease Finance Corp.:
|
|
|
|
|
|
|
|
|
|
3.875%, 4/15/2018
|
|
|
3,630,000
|
|
3,639,075
|
|
|
5.75%, 5/15/2016
|
|
|
895,000
|
|
958,769
|
|
|
6.25%, 5/15/2019
|
|
|
2,695,000
|
|
2,917,338
|
|
|
8.625%, 1/15/2022 (b)
|
|
|
2,775,000
|
|
3,279,362
|
|
|
8.75%, 3/15/2017
|
|
|
4,075,000
|
|
4,798,312
|
|
MPT Operating Partnership LP:
|
|
|
|
|
|
|
|
|
|
(REIT), 6.375%, 2/15/2022
|
|
|
2,650,000
|
|
2,742,750
|
|
|
(REIT), 6.875%, 5/1/2021
|
|
|
2,415,000
|
|
2,584,050
|
|
Societe Generale SA, 144A, 7.875%, 12/18/2023
|
|
|
7,245,000
|
|
7,295,715
|
|
|
|
63,333,264
|
|
Health Care 6.1%
|
|
Aviv Healthcare Properties LP:
|
|
|
|
|
|
|
|
|
|
144A, 6.0%, 10/15/2021
|
|
|
955,000
|
|
971,713
|
|
|
7.75%, 2/15/2019
|
|
|
4,325,000
|
|
4,649,375
|
|
Biomet, Inc.:
|
|
|
|
|
|
|
|
|
|
6.5%, 8/1/2020
|
|
|
3,350,000
|
|
3,517,500
|
|
|
6.5%, 10/1/2020 (b)
|
|
|
960,000
|
|
988,800
|
|
Community Health Systems, Inc.:
|
|
|
|
|
|
|
|
|
|
5.125%, 8/15/2018
|
|
|
10,975,000
|
|
11,331,687
|
|
|
7.125%, 7/15/2020
|
|
|
12,190,000
|
|
12,647,125
|
|
Endo Finance Co., 144A, 5.75%, 1/15/2022
|
|
|
1,935,000
|
|
1,944,675
|
|
Fresenius Medical Care U.S. Finance II, Inc., 144A, 5.625%, 7/31/2019
|
|
|
1,980,000
|
|
2,138,400
|
|
HCA, Inc.:
|
|
|
|
|
|
|
|
|
|
5.875%, 3/15/2022
|
|
|
2,505,000
|
|
2,586,412
|
|
|
6.5%, 2/15/2020
|
|
|
9,615,000
|
|
10,564,481
|
|
|
7.5%, 2/15/2022
|
|
|
1,109,000
|
|
1,217,128
|
|
Hologic, Inc., 6.25%, 8/1/2020 (b)
|
|
|
1,935,000
|
|
2,041,425
|
|
IMS Health, Inc., 144A, 6.0%, 11/1/2020
|
|
|
2,350,000
|
|
2,496,875
|
|
LifePoint Hospitals, Inc., 144A, 5.5%, 12/1/2021
|
|
|
2,430,000
|
|
2,439,113
|
|
Par Pharmaceutical Companies, Inc., 7.375%, 10/15/2020
|
|
|
4,662,000
|
|
4,819,342
|
|
Physio-Control International, Inc., 144A, 9.875%, 1/15/2019
|
|
|
2,726,000
|
|
3,053,120
|
|
Salix Pharmaceuticals Ltd., 144A, 6.0%, 1/15/2021
|
|
|
1,455,000
|
|
1,491,375
|
|
Tenet Healthcare Corp.:
|
|
|
|
|
|
|
|
|
|
4.375%, 10/1/2021 (b)
|
|
|
3,695,000
|
|
3,473,300
|
|
|
4.5%, 4/1/2021 (b)
|
|
|
460,000
|
|
435,850
|
|
|
6.25%, 11/1/2018
|
|
|
14,050,000
|
|
15,560,375
|
|
|
|
88,368,071
|
|
Industrials 9.1%
|
|
Accuride Corp., 9.5%, 8/1/2018
|
|
|
2,721,000
|
|
2,659,778
|
|
ADT Corp., 144A, 6.25%, 10/15/2021
|
|
|
1,405,000
|
|
1,475,250
|
|
Aguila 3 SA, 144A, 7.875%, 1/31/2018
|
|
|
3,955,000
|
|
4,192,300
|
|
Alphabet Holding Co., Inc.:
|
|
|
|
|
|
|
|
|
|
7.75%, 11/1/2017 (PIK)
|
|
|
1,870,000
|
|
1,928,438
|
|
|
144A, 7.75%, 11/1/2017 (PIK)
|
|
|
2,425,000
|
|
2,500,781
|
|
Armored Autogroup, Inc., 9.25%, 11/1/2018 (b)
|
|
|
4,685,000
|
|
4,509,312
|
|
Artesyn Escrow, Inc., 144A, 9.75%, 10/15/2020
|
|
|
2,335,000
|
|
2,451,750
|
|
AWAS Aviation Capital Ltd., 144A, 7.0%, 10/17/2016
|
|
|
2,823,080
|
|
2,921,888
|
|
BakerCorp International, Inc., 8.25%, 6/1/2019
|
|
|
2,785,000
|
|
2,778,038
|
|
Belden, Inc., 144A, 5.5%, 9/1/2022
|
|
|
3,360,000
|
|
3,292,800
|
|
Bombardier, Inc., 144A, 5.75%, 3/15/2022 (b)
|
|
|
2,060,000
|
|
2,044,550
|
|
Casella Waste Systems, Inc., 7.75%, 2/15/2019
|
|
|
4,935,000
|
|
5,058,375
|
|
Clean Harbors, Inc., 5.125%, 6/1/2021
|
|
|
2,375,000
|
|
2,398,750
|
|
CTP Transportation Products LLC, 144A, 8.25%, 12/15/2019
|
|
|
2,415,000
|
|
2,517,638
|
|
Darling Escrow Corp., 144A, 5.375%, 1/15/2022 (c)
|
|
|
1,925,000
|
|
1,939,438
|
|
DigitalGlobe, Inc., 144A, 5.25%, 2/1/2021
|
|
|
1,395,000
|
|
1,360,125
|
|
Ducommun, Inc., 9.75%, 7/15/2018
|
|
|
2,795,000
|
|
3,109,438
|
|
DynCorp International, Inc., 10.375%, 7/1/2017
|
|
|
3,745,000
|
|
3,829,262
|
|
Florida East Coast Railway Corp., 8.125%, 2/1/2017
|
|
|
1,750,000
|
|
1,826,563
|
|
FTI Consulting, Inc., 6.0%, 11/15/2022
|
|
|
1,885,000
|
|
1,908,563
|
|
Garda World Security Corp., 144A, 7.25%, 11/15/2021
|
|
|
2,550,000
|
|
2,569,125
|
|
GenCorp, Inc., 7.125%, 3/15/2021
|
|
|
6,990,000
|
|
7,479,300
|
|
Huntington Ingalls Industries, Inc.:
|
|
|
|
|
|
|
|
|
|
6.875%, 3/15/2018
|
|
|
2,400,000
|
|
2,592,000
|
|
|
7.125%, 3/15/2021 (b)
|
|
|
2,480,000
|
|
2,721,800
|
|
Kenan Advantage Group, Inc., 144A, 8.375%, 12/15/2018
|
|
|
5,230,000
|
|
5,504,575
|
|
Meritor, Inc.:
|
|
|
|
|
|
|
|
|
|
6.75%, 6/15/2021 (b)
|
|
|
1,860,000
|
|
1,897,200
|
|
|
10.625%, 3/15/2018
|
|
|
2,870,000
|
|
3,056,550
|
|
Navios Maritime Holdings, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 7.375%, 1/15/2022
|
|
|
7,315,000
|
|
7,351,575
|
|
|
8.125%, 2/15/2019
|
|
|
3,255,000
|
|
3,344,512
|
|
Navios South American Logistics, Inc., 9.25%, 4/15/2019
|
|
|
2,890,000
|
|
3,117,587
|
|
Nortek, Inc., 8.5%, 4/15/2021
|
|
|
3,615,000
|
|
4,003,612
|
|
Ply Gem Industries, Inc., 9.375%, 4/15/2017 (b)
|
|
|
981,000
|
|
1,059,480
|
|
Spirit AeroSystems, Inc.:
|
|
|
|
|
|
|
|
|
|
6.75%, 12/15/2020
|
|
|
1,465,000
|
|
1,576,706
|
|
|
7.5%, 10/1/2017
|
|
|
1,730,000
|
|
1,799,200
|
|
Titan International, Inc., 144A, 6.875%, 10/1/2020
|
|
|
5,600,000
|
|
5,838,000
|
|
TransDigm, Inc.:
|
|
|
|
|
|
|
|
|
|
7.5%, 7/15/2021 (b)
|
|
|
3,140,000
|
|
3,375,500
|
|
|
7.75%, 12/15/2018
|
|
|
2,820,000
|
|
3,024,450
|
|
United Rentals North America, Inc.:
|
|
|
|
|
|
|
|
|
|
5.75%, 7/15/2018
|
|
|
3,460,000
|
|
3,697,875
|
|
|
6.125%, 6/15/2023
|
|
|
210,000
|
|
213,150
|
|
|
7.375%, 5/15/2020
|
|
|
5,690,000
|
|
6,308,787
|
|
|
7.625%, 4/15/2022
|
|
|
5,690,000
|
|
6,323,012
|
|
Watco Companies LLC, 144A, 6.375%, 4/1/2023
|
|
|
1,385,000
|
|
1,371,150
|
|
|
|
132,928,183
|
|
Information Technology 4.7%
|
|
ACI Worldwide, Inc., 144A, 6.375%, 8/15/2020
|
|
|
955,000
|
|
997,975
|
|
Activision Blizzard, Inc., 144A, 5.625%, 9/15/2021
|
|
|
6,745,000
|
|
6,981,075
|
|
Alliance Data Systems Corp., 144A, 5.25%, 12/1/2017
|
|
|
2,375,000
|
|
2,464,063
|
|
Audatex North America, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 6.0%, 6/15/2021
|
|
|
1,440,000
|
|
1,508,400
|
|
|
144A, 6.125%, 11/1/2023
|
|
|
250,000
|
|
257,500
|
|
BMC Software Finance, Inc., 144A, 8.125%, 7/15/2021
|
|
|
3,165,000
|
|
3,259,950
|
|
CDW LLC, 8.5%, 4/1/2019
|
|
|
10,025,000
|
|
11,077,625
|
|
CyrusOne LP, 6.375%, 11/15/2022
|
|
|
950,000
|
|
983,250
|
|
eAccess Ltd., 144A, 8.25%, 4/1/2018
|
|
|
2,720,000
|
|
2,971,600
|
|
EarthLink, Inc., 7.375%, 6/1/2020 (b)
|
|
|
2,310,000
|
|
2,304,225
|
|
Equinix, Inc., 5.375%, 4/1/2023 (b)
|
|
|
6,455,000
|
|
6,309,762
|
|
First Data Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 6.75%, 11/1/2020
|
|
|
8,955,000
|
|
9,313,200
|
|
|
144A, 7.375%, 6/15/2019
|
|
|
2,155,000
|
|
2,300,463
|
|
|
144A, 8.875%, 8/15/2020
|
|
|
3,745,000
|
|
4,142,906
|
|
Freescale Semiconductor, Inc., 144A, 6.0%, 1/15/2022
|
|
|
2,435,000
|
|
2,465,437
|
|
Healthcare Technology Intermediate, Inc., 144A, 7.375%, 9/1/2018 (PIK)
|
|
|
680,000
|
|
707,200
|
|
Hughes Satellite Systems Corp.:
|
|
|
|
|
|
|
|
|
|
6.5%, 6/15/2019
|
|
|
4,495,000
|
|
4,865,837
|
|
|
7.625%, 6/15/2021
|
|
|
1,910,000
|
|
2,129,650
|
|
IAC/InterActiveCorp., 4.75%, 12/15/2022
|
|
|
1,875,000
|
|
1,748,438
|
|
NCR Escrow Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 5.875%, 12/15/2021
|
|
|
485,000
|
|
494,094
|
|
|
144A, 6.375%, 12/15/2023
|
|
|
1,210,000
|
|
1,235,713
|
|
|
|
68,518,363
|
|
Materials 7.3%
|
|
APERAM:
|
|
|
|
|
|
|
|
|
|
144A, 7.375%, 4/1/2016
|
|
|
850,000
|
|
873,375
|
|
|
144A, 7.75%, 4/1/2018
|
|
|
905,000
|
|
927,625
|
|
Berry Plastics Corp.:
|
|
|
|
|
|
|
|
|
|
9.5%, 5/15/2018 (b)
|
|
|
3,000,000
|
|
3,217,500
|
|
|
9.75%, 1/15/2021
|
|
|
3,510,000
|
|
4,062,825
|
|
BOE Intermediate Holding Corp., 144A, 9.0%, 11/1/2017 (PIK)
|
|
|
2,885,580
|
|
3,008,217
|
|
BOE Merger Corp., 144A, 9.5%, 11/1/2017 (PIK)
|
|
|
3,745,000
|
|
3,979,062
|
|
Clearwater Paper Corp., 7.125%, 11/1/2018
|
|
|
3,025,000
|
|
3,229,187
|
|
Essar Steel Algoma, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 9.375%, 3/15/2015 (b)
|
|
|
10,490,000
|
|
9,913,050
|
|
|
144A, 9.875%, 6/15/2015
|
|
|
1,680,000
|
|
1,024,800
|
|
Exopack Holding Corp., 144A, 10.0%, 6/1/2018
|
|
|
1,915,000
|
|
2,077,775
|
|
Exopack Holdings SA, 144A, 7.875%, 11/1/2019
|
|
|
2,410,000
|
|
2,458,200
|
|
FMG Resources August 2006 Pty Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 6.0%, 4/1/2017 (b)
|
|
|
2,970,000
|
|
3,155,625
|
|
|
144A, 6.375%, 2/1/2016 (b)
|
|
|
2,000,000
|
|
2,070,000
|
|
|
144A, 6.875%, 4/1/2022 (b)
|
|
|
2,415,000
|
|
2,632,350
|
|
|
144A, 7.0%, 11/1/2015 (b)
|
|
|
3,245,000
|
|
3,366,687
|
|
|
144A, 8.25%, 11/1/2019 (b)
|
|
|
2,530,000
|
|
2,839,925
|
|
FQM Akubra, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 7.5%, 6/1/2021
|
|
|
5,405,000
|
|
5,648,225
|
|
|
144A, 8.75%, 6/1/2020
|
|
|
3,135,000
|
|
3,401,475
|
|
Greif, Inc., 7.75%, 8/1/2019
|
|
|
910,000
|
|
1,032,850
|
|
Hexion U.S. Finance Corp.:
|
|
|
|
|
|
|
|
|
|
6.625%, 4/15/2020
|
|
|
860,000
|
|
881,500
|
|
|
8.875%, 2/1/2018
|
|
|
6,745,000
|
|
7,006,369
|
|
IAMGOLD Corp., 144A, 6.75%, 10/1/2020
|
|
|
2,925,000
|
|
2,515,500
|
|
Kaiser Aluminum Corp., 8.25%, 6/1/2020
|
|
|
2,370,000
|
|
2,678,100
|
|
KGHM International Ltd., 144A, 7.75%, 6/15/2019
|
|
|
5,165,000
|
|
5,449,075
|
|
Novelis, Inc., 8.75%, 12/15/2020 (b)
|
|
|
5,100,000
|
|
5,673,750
|
|
OI European Group BV, 144A, 6.75%, 9/15/2020
|
EUR
|
|
985,000
|
|
1,572,552
|
|
Packaging Dynamics Corp., 144A, 8.75%, 2/1/2016
|
|
|
4,200,000
|
|
4,315,500
|
|
Perstorp Holding AB, 144A, 8.75%, 5/15/2017 (b)
|
|
|
3,445,000
|
|
3,703,375
|
|
Plastipak Holdings, Inc., 144A, 6.5%, 10/1/2021
|
|
|
2,335,000
|
|
2,416,725
|
|
Polymer Group, Inc., 7.75%, 2/1/2019
|
|
|
2,335,000
|
|
2,489,694
|
|
PolyOne Corp., 5.25%, 3/15/2023
|
|
|
2,295,000
|
|
2,237,625
|
|
Rain CII Carbon LLC:
|
|
|
|
|
|
|
|
|
|
144A, 8.0%, 12/1/2018
|
|
|
2,120,000
|
|
2,194,200
|
|
|
144A, 8.25%, 1/15/2021
|
|
|
1,380,000
|
|
1,407,600
|
|
Sealed Air Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 8.125%, 9/15/2019
|
|
|
1,315,000
|
|
1,476,088
|
|
|
144A, 8.375%, 9/15/2021
|
|
|
1,315,000
|
|
1,492,525
|
|
|
|
106,428,931
|
|
Telecommunication Services 19.7%
|
|
Altice Financing SA:
|
|
|
|
|
|
|
|
|
|
144A, 6.5%, 1/15/2022
|
|
|
1,500,000
|
|
1,515,000
|
|
|
144A, 7.875%, 12/15/2019 (b)
|
|
|
2,120,000
|
|
2,305,500
|
|
Altice Finco SA, 144A, 9.875%, 12/15/2020 (b)
|
|
|
2,120,000
|
|
2,385,000
|
|
CenturyLink, Inc.:
|
|
|
|
|
|
|
|
|
|
Series V, 5.625%, 4/1/2020
|
|
|
920,000
|
|
936,100
|
|
|
Series W, 6.75%, 12/1/2023
|
|
|
3,900,000
|
|
3,948,750
|
|
Cincinnati Bell, Inc.:
|
|
|
|
|
|
|
|
|
|
8.375%, 10/15/2020 (b)
|
|
|
10,625,000
|
|
11,501,562
|
|
|
8.75%, 3/15/2018 (b)
|
|
|
5,865,000
|
|
6,158,250
|
|
CPI International, Inc., 8.0%, 2/15/2018
|
|
|
2,060,000
|
|
2,152,700
|
|
Cricket Communications, Inc., 7.75%, 10/15/2020 (b)
|
|
|
10,040,000
|
|
11,445,600
|
|
Digicel Group Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 8.25%, 9/30/2020
|
|
|
13,857,000
|
|
14,359,316
|
|
|
144A, 10.5%, 4/15/2018
|
|
|
4,005,000
|
|
4,285,350
|
|
Digicel Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 7.0%, 2/15/2020
|
|
|
800,000
|
|
808,000
|
|
|
144A, 8.25%, 9/1/2017
|
|
|
12,540,000
|
|
13,041,600
|
|
ERC Ireland Preferred Equity Ltd., 144A, 7.69% **, 2/15/2017 (PIK) *
|
EUR
|
|
4,552,995
|
|
0
|
|
Frontier Communications Corp.:
|
|
|
|
|
|
|
|
|
|
7.125%, 1/15/2023 (b)
|
|
|
12,450,000
|
|
12,294,375
|
|
|
7.625%, 4/15/2024
|
|
|
980,000
|
|
977,550
|
|
|
8.25%, 4/15/2017 (b)
|
|
|
2,796,000
|
|
3,243,360
|
|
|
8.5%, 4/15/2020 (b)
|
|
|
4,270,000
|
|
4,782,400
|
|
|
8.75%, 4/15/2022
|
|
|
8,085,000
|
|
8,974,350
|
|
Intelsat Jackson Holdings SA:
|
|
|
|
|
|
|
|
|
|
144A, 5.5%, 8/1/2023
|
|
|
4,390,000
|
|
4,175,987
|
|
|
7.25%, 10/15/2020
|
|
|
10,060,000
|
|
11,003,125
|
|
|
7.5%, 4/1/2021
|
|
|
10,740,000
|
|
11,840,850
|
|
|
8.5%, 11/1/2019
|
|
|
4,825,000
|
|
5,265,281
|
|
Intelsat Luxembourg SA:
|
|
|
|
|
|
|
|
|
|
144A, 7.75%, 6/1/2021
|
|
|
5,970,000
|
|
6,402,825
|
|
|
144A, 8.125%, 6/1/2023
|
|
|
950,000
|
|
1,018,875
|
|
Level 3 Communications, Inc., 8.875%, 6/1/2019
|
|
|
545,000
|
|
595,413
|
|
Level 3 Financing, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 6.125%, 1/15/2021
|
|
|
1,460,000
|
|
1,474,600
|
|
|
7.0%, 6/1/2020
|
|
|
11,605,000
|
|
12,301,300
|
|
|
8.125%, 7/1/2019 (b)
|
|
|
5,585,000
|
|
6,115,575
|
|
|
8.625%, 7/15/2020
|
|
|
4,660,000
|
|
5,219,200
|
|
MetroPCS Wireless, Inc.:
|
|
|
|
|
|
|
|
|
|
6.625%, 11/15/2020
|
|
|
6,755,000
|
|
7,160,300
|
|
|
144A, 6.625%, 4/1/2023 (b)
|
|
|
2,300,000
|
|
2,374,750
|
|
|
7.875%, 9/1/2018 (b)
|
|
|
3,260,000
|
|
3,500,425
|
|
Millicom International Cellular SA, 144A, 4.75%, 5/22/2020
|
|
|
6,700,000
|
|
6,432,000
|
|
NII Capital Corp., 7.625%, 4/1/2021
|
|
|
2,570,000
|
|
1,053,700
|
|
Pacnet Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 9.0%, 12/12/2018
|
|
|
1,500,000
|
|
1,528,125
|
|
|
144A, 9.25%, 11/9/2015
|
|
|
3,696,000
|
|
3,857,700
|
|
SBA Communications Corp., 5.625%, 10/1/2019
|
|
|
1,920,000
|
|
1,977,600
|
|
SBATelecommunications, Inc., 5.75%, 7/15/2020
|
|
|
4,000,000
|
|
4,160,000
|
|
Sprint Communications, Inc.:
|
|
|
|
|
|
|
|
|
|
6.0%, 12/1/2016
|
|
|
8,320,000
|
|
9,079,200
|
|
|
8.375%, 8/15/2017
|
|
|
2,810,000
|
|
3,252,575
|
|
|
9.125%, 3/1/2017
|
|
|
2,880,000
|
|
3,384,000
|
|
Sprint Corp., 144A, 7.125%, 6/15/2024
|
|
|
2,420,000
|
|
2,456,300
|
|
T-Mobile U.S.A., Inc.:
|
|
|
|
|
|
|
|
|
|
6.125%, 1/15/2022
|
|
|
975,000
|
|
992,063
|
|
|
6.5%, 1/15/2024
|
|
|
975,000
|
|
987,188
|
|
|
6.633%, 4/28/2021
|
|
|
250,000
|
|
263,125
|
|
Telenet Finance Luxembourg SCA, 144A, 6.375%, 11/15/2020
|
EUR
|
|
5,000,000
|
|
7,394,384
|
|
tw telecom holdings, Inc.:
|
|
|
|
|
|
|
|
|
|
5.375%, 10/1/2022 (b)
|
|
|
2,625,000
|
|
2,579,063
|
|
|
144A, 5.375%, 10/1/2022
|
|
|
450,000
|
|
442,125
|
|
|
144A, 6.375%, 9/1/2023
|
|
|
2,260,000
|
|
2,350,400
|
|
UPCB Finance III Ltd., 144A, 6.625%, 7/1/2020
|
|
|
1,495,000
|
|
1,588,438
|
|
UPCB Finance V Ltd., 144A, 7.25%, 11/15/2021
|
|
|
9,145,000
|
|
9,922,325
|
|
UPCB Finance VI Ltd., 144A, 6.875%, 1/15/2022
|
|
|
4,850,000
|
|
5,153,125
|
|
Wind Acquisition Finance SA:
|
|
|
|
|
|
|
|
|
|
144A, 6.5%, 4/30/2020
|
|
|
1,850,000
|
|
1,970,250
|
|
|
144A, 7.25%, 2/15/2018
|
|
|
3,475,000
|
|
3,657,438
|
|
Windstream Corp.:
|
|
|
|
|
|
|
|
|
|
6.375%, 8/1/2023
|
|
|
2,335,000
|
|
2,183,225
|
|
|
7.5%, 6/1/2022
|
|
|
11,470,000
|
|
11,728,075
|
|
|
7.5%, 4/1/2023
|
|
|
3,810,000
|
|
3,829,050
|
|
|
7.75%, 10/15/2020 (b)
|
|
|
485,000
|
|
514,706
|
|
|
7.75%, 10/1/2021
|
|
|
6,460,000
|
|
6,847,600
|
|
|
7.875%, 11/1/2017
|
|
|
3,775,000
|
|
4,312,937
|
|
|
|
287,459,986
|
|
Utilities 2.0%
|
|
AES Corp.:
|
|
|
|
|
|
|
|
|
|
8.0%, 10/15/2017
|
|
|
2,680,000
|
|
3,149,000
|
|
|
8.0%, 6/1/2020
|
|
|
4,120,000
|
|
4,820,400
|
|
Calpine Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 7.5%, 2/15/2021
|
|
|
3,136,000
|
|
3,422,160
|
|
|
144A, 7.875%, 7/31/2020
|
|
|
3,643,000
|
|
3,989,085
|
|
Enel SpA, 144A, 8.75%, 9/24/2073
|
|
|
4,230,000
|
|
4,599,562
|
|
Energy Future Holdings Corp., Series Q, 6.5%, 11/15/2024
|
|
|
4,626,000
|
|
1,619,100
|
|
Energy Future Intermediate Holding Co., LLC, 10.0%, 12/1/2020 (b)
|
|
|
5,805,000
|
|
6,167,813
|
|
NRG Energy, Inc., 7.625%, 1/15/2018
|
|
|
1,660,000
|
|
1,892,400
|
|
|
|
29,659,520
|
|
|
Total Corporate Bonds
(Cost $1,288,733,362)
|
|
1,332,963,968
|
|
|
Government & Agency Obligations 0.9%
|
|
Other Government Related (d) 0.3%
|
|
Vimpel Communications, 144A, 6.493%, 2/2/2016 (Cost $4,053,810)
|
|
|
4,130,000
|
|
4,408,775
|
|
U.S. Treasury Obligation 0.6%
|
|
U.S. Treasury Note, 0.75%, 6/15/2014 (e) (Cost $8,039,792)
|
|
|
8,000,000
|
|
8,023,128
|
|
|
Total Government & Agency Obligations
(Cost $12,093,602)
|
|
12,431,903
|
|
|
Loan Participations and Assignments 0.5%
|
|
Senior Loans **
|
|
|
Alliance Mortgage Cycle Loan, Term Loan A, 9.5%, 6/15/2010 *
|
|
|
3,500,000
|
|
0
|
|
Caesars Entertainment Operating Co., Term Loan B6, 5.488%, 1/26/2018
|
|
|
1,480,212
|
|
1,417,688
|
|
Chesapeake Energy Corp., Term Loan, 5.75%, 12/1/2017
|
|
|
3,680,000
|
|
3,762,542
|
|
Travelport LLC, Second Lien Term Loan, 9.5%, 1/29/2016
|
|
|
2,068,409
|
|
2,146,626
|
|
|
Total Loan Participations and Assignments
(Cost $10,541,013)
|
|
7,326,856
|
|
|
|
|
Consumer Discretionary 0.0%
|
|
MGM Resorts International, 4.25%, 4/15/2015
|
|
|
405,000
|
|
556,875
|
|
Materials 1.0%
|
|
GEO Specialty Chemicals, Inc., 144A, 7.5%, 3/31/2015 (PIK)
|
|
|
7,287,779
|
|
14,117,886
|
|
|
Total Convertible Bonds
(Cost $7,667,803)
|
|
14,674,761
|
|
|
|
|
Materials
|
|
|
Hercules, Inc., 6.5%, 6/30/2029 (Cost $4,661,576)
|
|
|
6,975,000
|
|
6,068,250
|
|
|
|
|
|
|
|
Shares
|
|
Value ($)
|
|
|
|
|
Consumer Discretionary 0.0%
|
|
Dawn Holdings, Inc.* (f)
|
|
107
|
|
310,092
|
|
Trump Entertainment Resorts, Inc.*
|
|
366
|
|
0
|
|
Vertis Holdings, Inc.*
|
|
4,521
|
|
0
|
|
|
|
310,092
|
|
Industrials 0.0%
|
|
Congoleum Corp.*
|
|
135,300
|
|
0
|
|
Materials 0.1%
|
|
GEO Specialty Chemicals, Inc.*
|
|
136,705
|
|
101,667
|
|
GEO Specialty Chemicals, Inc. 144A*
|
|
12,448
|
|
9,258
|
|
Wolverine Tube, Inc.*
|
|
46,935
|
|
1,513,654
|
|
|
|
1,624,579
|
|
|
Total Common Stocks
(Cost $3,245,719)
|
|
1,934,671
|
|
|
|
|
Financials
|
|
|
Ally Financial, Inc., Series G, 144A, 7.0% (Cost $7,725,763)
|
|
8,405
|
|
8,069,588
|
|
|
|
|
Consumer Discretionary 0.0%
|
|
Reader's Digest Association, Inc., Expiration Date 2/19/2014*
|
|
7,982
|
|
0
|
|
Materials 0.0%
|
|
GEO Specialty Chemicals, Inc., Expiration Date 3/31/2015*
|
|
672,806
|
|
495,320
|
|
Hercules Trust II, Expiration Date 3/31/2029*
|
|
6,700
|
|
70,794
|
|
|
|
566,114
|
|
|
Total Warrants
(Cost $1,482,531)
|
|
566,114
|
|
|
Securities Lending Collateral 12.2%
|
|
Daily Assets Fund Institutional, 0.08% (g) (h) (Cost $177,215,342)
|
|
|
177,215,342
|
|
177,215,342
|
|
|
|
|
Central Cash Management Fund, 0.05% (g) (Cost $42,894,113)
|
|
|
42,894,113
|
|
42,894,113
|
|
|
|
|
|
|
|
% of
Net Assets
|
|
Value ($)
|
|
|
Total Investment Portfolio
(Cost $1,556,260,824) †
|
109.9
|
|
1,604,145,566
|
|
Other Assets and Liabilities, Net
|
(9.9)
|
|
(144,761,025)
|
|
|
Net Assets
|
100.0
|
|
1,459,384,541
|
|