Pioneer Investments: Pioneer Global High Yield Fund


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Pioneer Global High Yield Fund

Monthly Portfolio Holdings as of 3/31/2015

Security Name Coupon Maturity Date Par / Shares Market Value($)
Bank of America Corp., Floating Rate Note, 9/29/49 6.25 09/29/2049 3,425,000 3,505,694
Ardagh Packaging Finance Plc, 9.25%, 10/15/20 (144A) 9.25 10/15/2020 2,100,000 2,519,881
VeriSign, Inc., 5.25%, 4/1/25 (144A) 5.25 04/01/2025 1,470,000 1,500,258
Icon Health & Fitness, Inc., 11.875%, 10/15/16 (144A) 11.875 10/15/2016 5,000,000 5,211,285
CEDC Finance Corp International, Inc., 9.0%, 4/30/18 (Step) 9.0 04/30/2018 4,829,992 4,601,775
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 1,960,000 2,169,743
CenturyLink, Inc., 5.625%, 4/1/25 (144A) 5.625 04/01/2025 2,260,000 2,272,713
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 7.75 10/28/2020 2,020,000 2,202,684
CommScope, Inc., 5.0%, 6/15/21 (144A) 5.0 06/15/2021 1,475,000 1,494,872
ARIAD Pharmaceuticals, Inc., 3.625%, 6/15/19 (144A) 3.625 06/15/2019 1,135,000 1,320,184
Corp Pesquera Inca SAC, 9.0%, 2/10/17 (144A) 9.0 02/10/2017 9,720,000 9,771,030
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.63 10/12/2017 12,000,000 1,541,049
Indonesia Treasury Bond, 8.25%, 6/15/32 8.25 06/15/2032 40,352,000,000 3,301,828
Trilogy Energy Corp., 7.25%, 12/13/19 (144A) 7.25 12/13/2019 1,775,000 1,370,862
Ziggo Bond Finance BV, 5.875%, 1/15/25 (144A) 5.875 01/15/2025 1,075,000 1,136,939
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 212,000 5,414,480
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 4.2787 05/23/2018 475,000 477,231
Ford Motor Co.     335,730 5,418,682
Advanced Micro Devices, Inc., 6.75%, 3/1/19 6.75 03/01/2019 5,070,000 4,946,419
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 3,355,000 3,574,892
Scitor Corp., Term Loan, 2/15/17 5.0 02/15/2017 1,665,289 1,665,636
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.0051 06/06/2015 750,000 763,425
Meritor, Inc., 6.75%, 6/15/21 6.75 06/15/2021 3,150,000 3,322,856
Arlington Flt% 01aug15 0.0 08/01/2015 1,450,000 1,618,055
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 7.0 11/15/2020 2,400,000 435,259
T-Mobile USA, Inc., 6.731%, 4/28/22 6.731 04/28/2022 1,300,000 1,383,563
Scientific Games International, Inc., 6.25%, 9/1/20 6.25 09/01/2020 625,000 468,880
Whiting Canadian Holding Co ULC, 8.125%, 12/1/19 8.125 12/01/2019 5,215,000 5,603,952
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 5.25 02/01/2021 1,335,000 1,346,681
Memorial Resource Development Corp., 5.875%, 7/1/22 (144A) 5.875 07/01/2022 1,525,000 1,455,898
National Surgical Hospitals, Inc., Tranche B-2 Term Loan, 7/11/19 5.25 07/11/2019 1,477,584 1,486,819
GCI, Inc., 6.75%, 6/1/21 6.75 06/01/2021 500,000 517,500
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 405,000 619,899
Standard Pacific Corp., 6.25%, 12/15/21 6.25 12/15/2021 5,810,000 6,265,520
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,250,000 1,012,656
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 0.0 09/18/2017 1,800,000 1,892,880
Sanchez Energy Corp., 6.125%, 1/15/23 6.125 01/15/2023 3,765,000 3,432,477
Windstream Corp., 7.75%, 10/1/21 7.75 10/01/2021 2,300,000 2,383,375
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6.875 11/01/2019 6,210,000 4,866,441
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 4.25 01/31/2021 2,530,875 2,536,413
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 4,240,000 1,945,100
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 7.5 04/09/2015 2,000,000 2,036,667
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6.0 12/31/2049 16,300 992,507
Indo Energy Finance II BV, 6.375%, 1/24/23 (144A) 6.375 01/24/2023 1,900,000 1,276,543
RJS Power Holdings LLC, 5.125%, 7/15/19 (144A) 5.125 07/15/2019 3,760,000 3,744,281
Ally Financial, Inc., 4.125%, 3/30/20 4.125 03/30/2020 1,200,000 1,192,638
Empresa de Telecomunicaciones de Bogota, 7.0%, 1/17/23 (144A) 7.0 01/17/2023 1,626,000,000 601,849
Frontier Communications Corp., 8.5%, 4/15/20 8.5 04/15/2020 2,940,000 3,415,382
Bank of America Corp., Floating Rate Note, 10/23/49 6.5 10/23/2049 2,525,000 2,735,801
Cimpress NV, 7.0%, 3/24/22 (144A) 7.0 03/24/2022 3,650,000 3,700,593
Whiting Petroleum Corp., 1.25%, 4/1/20 (144A) 1.25 04/01/2020 2,585,000 2,729,150
Provincia de Buenos Aires Argentina, 11.75%, 10/5/15 (144A) 11.75 10/05/2015 1,125,000 1,172,750
Mentor Graphics Corp., 4.0%, 4/1/31 4.0 04/01/2031 1,025,000 1,299,188
JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35 2.5169 02/25/2035 5,923,886 2,081,944
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 4,340,000 3,661,513
Mexican Bonos, 7.5%, 6/3/27 7.5 06/03/2027 1,800,000 133,611
Cemex SAB de CV, 3.75%, 3/15/18 3.75 03/15/2018 8,300,000 9,838,958
Chaparral Energy, Inc., 7.625%, 11/15/22 7.625 11/15/2022 2,596,000 1,814,099
Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A) 0.0 09/15/2037 8,875,000 661,809
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 7.125 06/01/2019 1,610,000 1,680,438
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 5.75 02/01/2023 2,165,000 2,012,548
Ecuador Government International Bond, 10.5%, 3/24/20 (144A) 10.5 03/24/2020 1,220,000 1,225,541
Nexteer Automotive Group, Ltd., 5.875%, 11/15/21 (144A) 5.875 11/15/2021 1,462,000 1,531,475
Boing Group Financing Plc, 6.625%, 7/15/19 (144A) 6.625 07/15/2019 3,285,000 3,457,231
BreitBurn Energy Partners LP, 7.875%, 4/15/22 7.875 04/15/2022 2,830,000 2,140,364
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 33,500 4,214,300
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 9.5 06/24/2019 3,545,787 2,780,439
Horizon Lines, Inc.     2,370,345 1,540,724
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 6.0 12/15/2022 5,340,000 5,247,440
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 22.0051 06/06/2016 1,600,000 1,817,902
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 5.625 04/17/2020 2,525,000 2,329,628
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.5 04/09/2015 900,000 919,090
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 8.75 05/15/2018 6,950,000 7,930,134
Citrix Systems, Inc., 0.5%, 4/15/19 (144A) 0.5 04/15/2019 1,945,000 2,051,597
Resolute Forest Products, Inc., 5.875%, 5/15/23 5.875 05/15/2023 3,735,000 3,672,231
Kane Ilw Zero% 02feb16 0.0 02/02/2016 1,300,000 1,215,500
Telenet Finance V Luxembourg SCA, 6.25%, 8/15/22 (144A) 6.25 08/15/2022 1,600,000 1,887,710
Frontier Communications Corp., 7.125%, 1/15/23 7.125 01/15/2023 5,200,000 5,395,217
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 6.75 12/01/2021 1,375,000 1,419,688
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 6,395,000 4,516,145
WideOpenWest Finance LLC, Term B Loan, 4/1/19 4.75 04/01/2019 1,339,655 1,343,483
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 7.0 05/15/2022 1,000,000 1,121,444
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/9/19 (144A) 4.925 05/09/2019 840,000 775,498
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 2,565,000 2,797,026
Energy XXI, Ltd., 3.0%, 12/15/18 3.0 12/15/2018 2,990,000 878,681
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 4.4 04/15/2019 1,000,000 1,009,588
Desarrolladora Homex SAB de CV, 0.0%, 12/11/19 (144A) 0.0 12/11/2019 9,802,000 2,736,010
United Continental Holdings, Inc., 6.0%, 7/15/26 6.0 07/15/2026 3,500,000 3,544,333
Kane Zero% 29apr16 0.0 04/29/2016 5,400,000 5,598,720
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 8.25 06/07/2021 7,135,000 6,661,414
INEOS Group Holdings SA, 5.75%, 2/15/19 (144A) 5.75 02/15/2019 4,325,000 4,715,547
Rosetta Resources, Inc., 5.875%, 6/1/24 5.875 06/01/2024 1,935,000 1,837,444
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,067,200 1,070,295
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 4,980,000 5,241,450
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 11.0 03/31/2021 3,992,000 3,853,500
Towergate Finance Plc, 10.5%, 2/15/19 (144A) 10.5 02/15/2019 4,840,000 643,809
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.7609 05/15/2046 455,000 407,358
Banco Santander SA, Floating Rate Note (Perpetual) 6.375 12/31/2049 2,400,000 2,387,255
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 3,850,000 3,615,022
Abengoa Finance SAU, 6.0%, 3/31/21 (144A) 6.0 03/31/2021 640,000 644,869
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 7.5043 03/01/2022 4,875,000 4,655,642
WebMD Health Corp., 1.5%, 12/1/20 1.5 12/01/2020 3,750,000 4,003,050
Energy Transfer Partners LP, Floating Rate Note, 11/1/66 3.2721 11/01/2066 950,000 841,094
WebMD Health Corp., 2.5%, 1/31/18 2.5 01/31/2018 3,485,000 3,556,394
International Finance Corp., 8.25%, 6/10/21 8.25 06/10/2021 240,670,000 4,243,503
Rent-A-Center, Inc., 4.75%, 5/1/21 4.75 05/01/2021 2,710,000 2,357,135
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 4.125 03/15/2018 2,360,000 2,360,000
CFG Investment SAC, 9.75%, 7/30/19 (144A) 9.75 07/30/2019 4,450,000 4,009,543
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 6.5 07/01/2036 75,878 2,726
Mirabela Nickel, Ltd.     27,099,676 2,887,958
GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A) 7.5 02/11/2020 3,260,000 2,544,158
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 9.75 12/12/2017 585,099 519,275
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 10.625 02/01/2016 5,075,000 4,657,370
Unit Corp., 6.625%, 5/15/21 6.625 05/15/2021 3,765,000 3,633,330
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 3,370,000 3,490,056
Oasis Petroleum, Inc., 6.5%, 11/1/21 6.5 11/01/2021 2,840,000 2,789,117
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 1,270,000 1,274,604
Bumi Resources Tbk PT, Loan, 11/7/15 18.153 11/07/2015 4,700,000 1,715,500
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 8.5 05/15/2018 7,490,000 7,927,125
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 8.625 06/15/2019 3,089,777 3,297,644
City of Buenos Aires Argentina, 12.5%, 4/6/15 (144A) 12.5 04/06/2015 5,200,000 5,515,972
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 5.135 10/15/2039 1,502,000 1,559,339
Fresnillo Plc, 5.5%, 11/13/23 (144A) 5.5 11/13/2023 1,825,000 1,945,602
Crestwood Midstream Partners LP, 6.25%, 4/1/23 (144A) 6.25 04/01/2023 2,170,000 2,194,714
Towergate Finance Plc, Floating Rate Note, 2/15/18 (144A) 6.0634 02/15/2018 1,200,000 1,774,601
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 6.0404 04/10/2015 250,000 253,169
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 8.133 09/24/2073 2,995,000 3,609,500
Kane Flt% 14jul15 0.0 07/14/2015 814,976 802,099
Arcos Dorados Holdings, Inc., 10.25%, 7/13/16 (144A) 10.25 07/13/2016 4,250,000 1,228,164
Belden, Inc., 5.5%, 4/15/23 (144A) 5.5 04/15/2023 1,800,000 2,125,545
Talos Production LLC, 9.75%, 2/15/18 (144A) 9.75 02/15/2018 3,020,000 2,151,624
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3.5 08/23/2019 3,174 3,179
Kane Zero% 15jan16 0.0 01/15/2016 506,000 508,328
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 2,250,000 2,194,688
LifePoint Hospitals, Inc., 5.5%, 12/1/21 5.5 12/01/2021 4,300,000 4,583,083
Kane Zero% 22jan16 0.0 01/22/2016 2,600,000 2,633,800
Windstream Corp., 7.75%, 10/15/20 7.75 10/15/2020 6,765,000 7,167,424
Vimpel Communications Via VIP Finance Ireland, Ltd. OJSC, 7.748%, 2/2/21 (144A) 7.748 02/02/2021 7,800,000 7,771,905
Zambia Government International Bond, 5.375%, 9/20/22 (144A) 5.375 09/20/2022 3,700,000 3,383,252
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 4.25 06/03/2019 1,031,631 1,029,696
IAC, 4.875%, 11/30/18 4.875 11/30/2018 700,000 732,470
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 3.75 08/20/2025 700,000 336,833
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/34 1.1488 11/25/2034 1,700,000 1,334,848
Citigroup, Inc., Floating Rate Note (Perpetual) 5.9 12/31/2049 2,150,000 2,182,334
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/15/35 (144A) 7.08 12/15/2035 9,000,000 5,093,496
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 4,990,000 5,275,885
LKQ Corp., 4.75%, 5/15/23 4.75 05/15/2023 1,250,000 1,247,431
SM Energy Co., 5.0%, 1/15/24 5.0 01/15/2024 455,000 433,248
Banque Centrale de Tunisie SA, 5.75%, 1/30/25 (144A) 5.75 01/30/2025 2,655,000 2,704,099
Altice Financing SA, 6.625%, 2/15/23 (144A) 6.625 02/15/2023 1,320,000 1,373,446
Panolam Holdings Co.     894 657,984
General Cable Corp., 5.75%, 10/1/22 5.75 10/01/2022 3,250,000 3,115,938
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 9.5 05/04/2020 12,248,000 12,049,480
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 7.25 05/01/2022 3,650,000 3,650,760
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 10.5 12/15/2018 5,750,000 6,249,771
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 1,075,000 924,308
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 2,500,000 2,681,250
Denbury Resources, Inc., 5.5%, 5/1/22 5.5 05/01/2022 3,695,000 3,400,940
Virtual Radiologic Corp., Term Loan A, 12/22/16 7.2501 12/22/2016 1,065,589 871,119
Queen Street VI Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 10.3625 04/09/2015 300,000 315,698
Romania Government Bond, 5.85%, 4/26/23 5.85 04/26/2023 24,770,000 7,568,588
Kane Flt% 12jun15   06/12/2015 2,400,000 2,349,600
Inter-American Development Bank, 6.0%, 9/5/17 6.0 09/05/2017 42,350,000 700,181
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 6.75 04/15/2022 1,000,000 978,625
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 3,775,000 3,215,003
Minerva Luxembourg SA, 12.25%, 2/10/22 (144A) 12.25 02/10/2022 3,755,000 4,233,215
Belvedere SA, 12/23/16   12/23/2016 5,578,091 419,498
Swift Energy Co., 8.875%, 1/15/20 8.875 01/15/2020 2,410,000 1,057,354
Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17 6.748 03/15/2017 10,600,000 1,302,016
Westgate Resorts 2014-A LLC, 6.25%, 10/20/26 (144A) 6.25 10/20/2026 750,000 645,116
Cobalt International Energy, Inc., 2.625%, 12/1/19 2.625 12/01/2019 5,335,000 3,924,559
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 4.25 07/01/2021 3,088,459 3,091,032
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 6.75 03/15/2023 4,750,000 4,718,755
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 9.0 01/29/2019 995,000 1,045,248
MMM Holdings, Inc., MMM Term Loan, 12/12/17 9.75 12/12/2017 804,800 714,260
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 4.939 07/10/2039 1,500,000 1,493,239
Belden, Inc., 5.25%, 7/15/24 (144A) 5.25 07/15/2024 1,000,000 1,018,583
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 5.25 12/31/2049 3,725,000 3,920,718
LDK Solar Co, Ltd., 5.535%, 12/31/18 (PIK) 5.535 12/31/2018 2,266,700 36,245
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 0.6045 07/15/2031 1,102,000 451,688
Comstock Resources, Inc., 9.5%, 6/15/20 9.5 06/15/2020 2,000,000 925,944
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 6.5 07/31/2020 417,670 415,059
DTEK Finance Plc, 7.875%, 4/4/18 (144A) 7.875 04/04/2018 925,000 359,565
International Finance Corp., 7.75%, 12/3/16 7.75 12/03/2016 241,840,000 4,032,011
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 6.75 04/30/2018 2,171,060 2,063,864
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3.5 03/01/2021 2,770,000 1,365,379
Altice Finco SA, 8.125%, 1/15/24 (144A) 8.125 01/15/2024 600,000 645,167
Pacific Rubiales Energy Corp., 5.375%, 1/26/19 (144A) 5.375 01/26/2019 7,570,000 5,069,666
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 7.375 11/01/2021 1,155,000 934,824
Mexican Udibonos, 2.0%, 6/9/22 2.0 06/09/2022 43,638,000 14,593,221
InterGen NV, 7.0%, 6/30/23 (144A) 7.0 06/30/2023 1,500,000 1,477,792
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 135,483 56,767
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 7.0 12/01/2018 2,200,000 2,339,333
Kenya Government International Bond, 6.875%, 6/24/24 (144A) 6.875 06/24/2024 2,530,000 2,688,819
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 6,285,000 6,222,150
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 7.25 04/03/2024 3,800,000 4,012,219
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 5.9505 05/15/2046 775,000 820,861
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 5.375 07/15/2022 2,535,000 2,506,728
Salix Pharmaceuticals, Ltd., 6.25%, 1/15/21 (144A) 6.25 01/15/2021 1,320,000 1,481,663
Citigroup, Inc., Floating Rate Note (Perpetual) 7.125 12/31/2049 160,000 4,422,400
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 101,612 17,467
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 8.875 01/24/2022 3,525,000 2,613,849
Petroleos Mexicanos, 7.19%, 9/12/24 (144A) 7.19 09/12/2024 8,650,000 581,357
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 6.75 12/31/2049 2,555,000 2,867,608
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 6.875 06/24/2019 3,615,000 3,139,715
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 7.125 03/15/2023 2,285,000 2,380,042
Wells Fargo & Co., Floating Rate Note (Perpetual) 5.875 12/31/2049 3,175,000 3,392,796
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8.25 10/19/2019 8,764,000 1,618,054
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 10.875 01/26/2021 1,025,000 1,093,814
Energy Transfer Equity LP, 5.875%, 1/15/24 5.875 01/15/2024 2,790,000 2,978,054
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 13,467 162,623
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 2.25 05/15/2041 1,605,000 1,392,939
Stone Energy Corp., 7.5%, 11/15/22 7.5 11/15/2022 2,825,000 2,636,653
Berkeley-Kane Flt% 12jun15   06/12/2015 903,800 946,459
DynCorp International, Inc., 10.375%, 7/1/17 10.375 07/01/2017 2,433,000 2,191,981
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 3.7753 11/25/2019 1,000,000 1,002,071
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 2,375,100 2,384,363
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 0.0 03/30/2019 1,000,000 1,247,700
Russian Federal Bond - OFZ, 7.0%, 8/16/23 7.0 08/16/2023 49,399,000 645,381
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 5,871,250 5,928,131
Province of Salta Argentina, 9.5%, 3/16/22 (144A) 9.5 03/16/2022 3,600,000 2,887,748
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 2,300,000 1,186,417
IRSA Inversiones y Representaciones SA, 8.5%, 2/2/17 (144A) 8.5 02/02/2017 6,405,000 6,478,853
Amsurg Corp., 5.625%, 7/15/22 5.625 07/15/2022 2,555,000 2,642,828
CEVA GROUP Plc     1,584 1,148,146
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 9.25 01/24/2020 4,400,000 1,371,547
Cincinnati Bell, Inc., 8.375%, 10/15/20 8.375 10/15/2020 2,790,000 3,075,607
Freeport-McMoRan, Inc.     45,168 855,934
Hilcorp Energy I LP, 5.0%, 12/1/24 (144A) 5.0 12/01/2024 3,790,000 3,625,767
TA MFG., Ltd., 3.625%, 4/15/23 3.625 04/15/2023 2,240,000 2,431,059
NeuStar, Inc., 4.5%, 1/15/23 4.5 01/15/2023 1,700,000 1,469,650
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 2,880,000 3,064,172
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 6.0 06/15/2021 2,100,000 2,257,850
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 10,345,000 11,900,342
Outerwall, Inc., 5.875%, 6/15/21 (144A) 5.875 06/15/2021 3,205,000 2,947,955
BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A) 6.75 09/30/2022 1,250,000 1,413,609
Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A) 9.0 06/10/2028 47,000,000 3,037,401
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 6.375 09/01/2024 1,900,000 2,104,593
Lennar Corp., 4.75%, 11/15/22 4.75 11/15/2022 4,450,000 4,607,728
City of Buenos Aires Argentina, 8.95%, 2/19/21 (144A) 8.95 02/19/2021 2,145,000 2,274,647
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 7,825,000 5,700,730
Agrokor dd, 9.875%, 5/1/19 (144A) 9.875 05/01/2019 3,200,000 3,856,900
KP Germany Erste GmbH, 11.625%, 7/15/17 (144A) 11.625 07/15/2017 2,500,000 2,969,161
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 5.125 08/01/2022 2,440,000 2,430,342
Indonesia Treasury Bond, 7.0%, 5/15/22 7.0 05/15/2022 53,000,000,000 4,081,548
Sanchez Energy Corp., 7.75%, 6/15/21 7.75 06/15/2021 1,500,000 1,489,229
UBS AG, 7.625%, 8/17/22 7.625 08/17/2022 5,650,000 6,905,410
Ecuador Government International Bond, 7.95%, 6/20/24 (144A) 7.95 06/20/2024 2,510,000 2,271,058
Ardagh Finance Holdings SA, 8.375%, 6/15/19 (144A) (PIK) 8.375 06/15/2019 417,029 468,087
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 5.0 12/20/2019 1,847,452 1,849,377
Memorial Production Partners LP, 7.625%, 5/1/21 7.625 05/01/2021 3,000,000 2,825,313
Ormat Funding Corp., 8.25%, 12/30/20 8.25 12/30/2020 10,665,000 5,056,491
Numericable-SFR SAS, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 1,250,000 1,275,208
CEVA GROUP Plc, 0.0%, 12/31/14 0.0 06/30/2015 3,428 2,485,423
Evraz Inc NA Canada, 7.5%, 11/15/19 (144A) 7.5 11/15/2019 2,300,000 2,294,250
Geely Automobile Holdings, Ltd., 5.25%, 10/6/19 (144A) 5.25 10/06/2019 2,700,000 2,852,606
New World Resources NV, 4.0%, 10/7/20 (PIK) 4.0 10/07/2020 237,096 68,311
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 3.621 05/08/2031 1,175,000 1,174,948
Union Andina de Cementos SAA, 5.875%, 10/30/21 (144A) 5.875 10/30/2021 820,000 849,227
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 5.75 07/10/2017 1,027,117 1,030,167
Unifin Financiera SAPI de CV SOFOM ENR, 6.25%, 7/22/19 (144A) 6.25 07/22/2019 4,000,000 3,774,317
Monitronics International, Inc., Term B Loan (2013), 3/23/18 4.25 03/23/2018 2,245,886 2,251,150
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 6.36 07/18/2019 500,885 465,823
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 7.75 01/31/2023 13,800,000 13,774,221
Banco Macro SA, Floating Rate Note, 12/18/36 9.75 12/18/2036 820,000 818,275
NRG Energy, Inc., 6.25%, 5/1/24 6.25 05/01/2024 6,000,000 6,201,250
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 5.78 03/16/2043 2,750,000 2,751,454
Advanced Micro Devices, Inc., 7.0%, 7/1/24 7.0 07/01/2024 1,355,000 1,192,400
WESCO Distribution, Inc., 5.375%, 12/15/21 5.375 12/15/2021 4,365,000 4,510,470
Endo Finance LLC, 5.375%, 1/15/23 (144A) 5.375 01/15/2023 6,165,000 6,219,543
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,101,200 1,103,513
Sprint Corp., 7.25%, 9/15/21 7.25 09/15/2021 3,000,000 3,024,667
LDK Solar Co, Ltd. (A.D.R.)     158,800 23,820
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 2,050,000 2,183,592
Altrl Zero% 30jun17 0.0 06/30/2017 1,440,000 1,461,312
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 4,400,000 4,437,278
Mexican Udibonos, 3.5%, 12/14/17 3.5 12/14/2017 1,720,000 635,463
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 7,165,000 6,454,570
Nuance Communications, Inc., 2.75%, 11/1/31 2.75 11/01/2031 3,140,000 3,152,429
Cott Beverages, Inc., 5.375%, 7/1/22 (144A) 5.375 07/01/2022 3,200,000 3,127,000
14112z Zero% 01feb19 0.0 02/01/2019 3,900,000 4,065,360
EPL Oil & Gas, Inc., 8.25%, 2/15/18 8.25 02/15/2018 4,980,000 3,737,698
EP Energy LLC, 9.375%, 5/1/20 9.375 05/01/2020 13,700,000 14,885,906
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 6.125 09/15/2023 3,225,000 3,524,029
Intelsat Luxembourg SA, 7.75%, 6/1/21 7.75 06/01/2021 4,000,000 3,793,333
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 3,005,000 3,025,659
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 2,400,000 2,593,300
Vertafore, Inc., Term Loan (Second Lien), 10/29/17 9.75 10/29/2017 3,500,000 3,531,721
European Bank for Reconstruction & Development, 6.0%, 3/3/16 6.0 03/03/2016 227,100,000 3,646,326
Pangaea Zero% 01jul18 0.0 07/01/2018 4,070,000 4,437,114
Cengage Learning Holdings II LP     11,492 260,725
JBS Finance II, Ltd., 8.25%, 1/29/18 (144A) 8.25 01/29/2018 4,690,000 4,912,814
Cia de Transporte de Energia Electrica en Alta Tension Transener SA, 9.75%, 8/15/21 (144A) 9.75 08/15/2021 1,981,000 1,609,480
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 8.0 01/15/2020 1,320,000 1,446,738
Acgl Zero% 01jul16 0.0 07/01/2016 1,300,000 1,314,300
Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A) 6.25 11/01/2023 2,000,000 2,087,083
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 4,430,000 4,504,295
Suntech Power Holdings Co, Ltd., 0.0%, 6/30/15 0.0 06/30/2015 535,000 158,602
EC Finance Plc, 5.125%, 7/15/21 (144A) 5.125 07/15/2021 3,695,000 4,233,352
Vers 2015-A Zero% 31dec17 0.0 12/31/2017 3,800,000 3,898,800
Videotron, Ltd., 5.375%, 6/15/24 (144A) 5.375 06/15/2024 3,250,000 3,398,936
Newhall Land Development LLC     161,215 523,949
Morgan Stanley, Floating Rate Note (Perpetual) 5.55 12/31/2049 3,550,000 3,592,068
Golar LNG, Ltd., 3.75%, 3/7/17 3.75 03/07/2017 800,000 841,175
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 8.625 12/31/2049 2,800,000 2,241,692
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 4,435,000 534,972
Aguila 3 SA, 7.875%, 1/31/18 (144A) 7.875 01/31/2018 5,200,000 5,269,388
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 3,785,000 4,097,709
Rosetta Resources, Inc., 5.875%, 6/1/22 5.875 06/01/2022 6,995,000 6,729,773
VimpelCom Holdings BV, 9.0%, 2/13/18 (144A) 9.0 02/13/2018 38,400,000 590,747
Seagate HDD Cayman, 4.75%, 6/1/23 4.75 06/01/2023 6,925,000 7,388,063
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 8.0 12/01/2018 9,820,000 9,590,867
Rwanda International Government Bond, 6.625%, 5/2/23 (144A) 6.625 05/02/2023 2,000,000 2,059,840
SunPower Corp., 0.875%, 6/1/21 (144A) 0.875 06/01/2021 2,290,000 2,219,392
Kindred Healthcare, Inc., 6.375%, 4/15/22 6.375 04/15/2022 2,400,000 2,491,550
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 3,500,000 1,375,889
NuStar Logistics LP, Floating Rate Note, 1/15/43 7.625 01/15/2043 70,730 1,845,346
Dycom Investments, Inc., 7.125%, 1/15/21 7.125 01/15/2021 2,230,000 2,369,468
Vanguard Natural Resources LLC, 7.875%, 4/1/20 7.875 04/01/2020 1,245,000 1,188,197
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 5.75 12/15/2018 1,850,000 1,700,947
Evolution Escrow Issuer LLC, 7.5%, 3/15/22 (144A) 7.5 03/15/2022 3,735,000 3,791,025
Banco de Galicia y Buenos Aires SA, 8.75%, 5/4/18 (144A) 8.75 05/04/2018 5,050,000 5,356,682
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 1,500,000 1,392,524
Kane Zero% 22jan16 0.0 01/22/2016 1,000,000 1,017,800
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 1,300,000 887,257
FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A) 6.125 03/25/2019 1,865,000 71,569
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 8.875 11/01/2017 6,900,000 7,293,156
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 6.5 12/15/2020 2,100,000 2,234,692
Alpha Natural Resources, Inc., 6.0%, 6/1/19 6.0 06/01/2019 315,000 94,500
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,093,300 1,098,001
Empresa Distribuidora Y Comercializadora Norte, 9.75%, 10/25/22 (144A) 9.75 10/25/2022 811,000 634,405
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 (144A) 6.5 04/15/2021 4,025,000 4,024,888
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 6.875 08/01/2022 3,225,000 2,891,078
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 8.5 10/15/2022 2,860,000 3,293,846
Romania Government Bond, 5.95%, 6/11/21 5.95 06/11/2021 1,220,000 367,023
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 0.5645 07/15/2031 12,652,000 5,185,652
FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A) 6.876 06/27/2017 2,465,000 237,510
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 4,870,000 4,780,717
CHS, 6.875%, 2/1/22 6.875 02/01/2022 5,675,000 6,130,182
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 1,675,000 1,802,916
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 6,300,000 4,378,001
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 4,315,000 4,473,726
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 4,000,000 4,063,740
Empresa Electrica Angamos SA, 4.875%, 5/25/29 (144A) 4.875 05/25/2029 1,830,000 1,841,094
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 5.55 10/28/2020 4,000,000 3,924,870
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 8.5 04/03/2018 4,373,318 4,377,420
Wells Enterprises, Inc., 6.75%, 2/1/20 (144A) 6.75 02/01/2020 1,144,000 1,176,890
Pro Mach Group, Inc., Dollar Term Loan (First Lien), 10/20/21 5.5 10/20/2021 539,770 544,409
Access Bank Plc, Floating Rate Note, 6/24/21 (144A) 9.25 06/24/2021 3,485,000 2,892,981
T-Mobile USA, Inc., 6.633%, 4/28/21 6.633 04/28/2021 1,940,000 2,054,669
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 6,450,000 5,686,266
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (PIK) 10.0 04/30/2018 2,387,885 1,532,890
Ally Financial, Inc., 7.0% (Perpetual) (144A) 7.0 12/31/2049 1,550 1,590,930
BioScrip, Inc., Initial Term B Loan, 7/31/20 6.5 07/31/2020 696,116 691,765
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 5.875 06/24/2019 2,175,000 2,273,049
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 9,652,000 9,814,475
Equinix, Inc., 5.375%, 4/1/23 5.375 04/01/2023 2,910,000 3,098,786
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 3,000,000 2,958,750
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 3,200,000 3,481,489
Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A) 6.95 11/10/2021 940,000 1,013,763
Cambium Learning Group, Inc., 9.75%, 2/15/17 9.75 02/15/2017 4,225,000 4,235,386
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 1,246,000 1,380,724
Transportadora de Gas del Sur SA, 9.625%, 5/14/20 (144A) 9.625 05/14/2020 4,130,162 3,218,715
Iap Worldwide Services Inc     63 47,194
Liberty Tire Recycling Llc     156,027 1,560
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 3,045,000 3,422,253
WireCo WorldGroup, Inc., 9.5%, 5/15/17 9.5 05/15/2017 1,100,000 1,026,728
Kane Zero% 19feb16 0.0 02/19/2016 3,120,000 3,267,576
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 11.5 12/15/2019 1,560,000 1,562,123
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 6.75 07/02/2018 1,281,034 1,287,639
KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A) 4.4 04/30/2023 1,000,000 883,456
SM Energy Co., 6.5%, 1/1/23 6.5 01/01/2023 1,650,000 1,709,813
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 10.5 05/14/2024 1,625,000 875,807
Viasystems, Inc., 7.875%, 5/1/19 (144A) 7.875 05/01/2019 4,750,000 5,155,234
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 2,980,000 3,367,400
IRSA Propiedades Comerciales SA, 7.875%, 5/11/17 (144A) 7.875 05/11/2017 5,750,000 5,721,969
Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A) 7.506 12/31/2049 8,075,000 8,670,970
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 7.5 09/15/2020 2,000,000 2,061,667
Scientific Games International, Inc., 10.0%, 12/1/22 (144A) 10.0 12/01/2022 17,000,000 16,508,889
TAM Capital 3, Inc., 8.375%, 6/3/21 (144A) 8.375 06/03/2021 3,250,000 3,358,717
GCI, Inc., 6.875%, 4/15/25 (144A) 6.875 04/15/2025 4,275,000 4,307,063
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.7609 05/15/2046 1,480,000 1,413,458
Berau Capital Resources Pte, Ltd., 12.5%, 7/8/15 (144A) 12.5 07/08/2015 2,153,000 1,569,148
Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 8.152 01/15/2015 1,034,769 377,691
Pesquera Exalmar S.A.A., 7.375%, 1/31/20 (144A) 7.375 01/31/2020 6,500,000 5,199,977
Antero Resources Corp., 5.625%, 6/1/23 (144A) 5.625 06/01/2023 1,750,000 1,736,328
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A) 5.875 05/15/2023 3,100,000 3,179,524
Ukraine Government International Bond, 6.75%, 11/14/17 (144A) 6.75 11/14/2017 575,000 239,101
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 (144A) 5.25 04/01/2022 1,740,000 1,813,950
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 9.875 02/01/2020 6,800,000 7,268,917
Aircraft Finance Trust, Floating Rate Note, 5/15/24 0.6545 05/15/2024 11,396,000 2,273,377
Altice Financing SA, 6.5%, 1/15/22 (144A) 6.5 01/15/2022 2,800,000 2,911,922
Altice SA, 7.75%, 5/15/22 (144A) 7.75 05/15/2022 1,000,000 1,026,778
AES Corp. Virginia, 5.5%, 3/15/24 5.5 03/15/2024 1,350,000 1,349,925
Griffon Corp., 5.25%, 3/1/22 5.25 03/01/2022 6,750,000 6,689,081
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 355,600 9,334,500
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 12.0 07/01/2019 2,528,093 2,452,250
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 5.0 08/16/2020 485,162 482,939
Mercer International, Inc., 7.0%, 12/1/19 7.0 12/01/2019 2,025,000 2,145,094
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 1,860,000 1,697,250
Equinix, Inc., 5.375%, 1/1/22 5.375 01/01/2022 1,600,000 1,699,294
Altrl Zero% 30jun16 0.0 06/30/2016 3,314,020 2,380,461
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,475,000 1,370,603
Metalloinvest Finance, Ltd., 6.5%, 7/21/16 (144A) 6.5 07/21/2016 2,660,000 2,676,994
Inversiones Alsacia SA, 8.0%, 12/31/18 (144A) 8.0 12/31/2018 5,992,701 4,506,511
Inter-American Development Bank, 4.5%, 2/4/16 4.5 02/04/2016 11,650,000,000 861,290
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 4,640,000 4,447,633
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 2,000,000 127,600
Targa Resources Partners LP, 4.25%, 11/15/23 4.25 11/15/2023 4,350,000 4,256,717
Inter-American Development Bank, 7.25%, 7/17/17 7.25 07/17/2017 5,140,000,000 408,090
Citigroup, Inc., Floating Rate Note (Perpetual) 5.875 12/31/2049 1,200,000 1,217,154
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 8.25 03/31/2020 2,800,000 2,632,642
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 0.0 12/01/2019 950,000 973,085
CCOH Safari LLC, 5.5%, 12/1/22 5.5 12/01/2022 3,000,000 3,122,500
Windstream Corp., 8.125%, 9/1/18 8.125 09/01/2018 5,700,000 6,002,219
Post Holdings, Inc., 7.375%, 2/15/22 7.375 02/15/2022 1,675,000 1,749,410
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 6.7525 05/23/2019 994,850 999,824
Alfa Bank OJSC Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A) 7.5 09/26/2019 4,000,000 3,710,647
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 4,620,000 4,951,357
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 6.2084 02/15/2051 2,100,000 2,155,102

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Please request a free information kit on any Pioneer fund by ordering from this web site or by calling 1-800-225-6292. The kit includes a quarterly fact sheet and a prospectus.

You should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about each fund and should be read carefully before you invest or send money. To obtain a prospectus directly and for other information on any Pioneer fund please visit our download literature page.

 

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it here.

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Securities offered through Pioneer Funds Distributor, Inc., 60 State Street, Boston, MA. 02109. Underwriter of Pioneer mutual funds, Member SIPC © 2015 Pioneer Investments.