Pioneer Investments: Pioneer Global High Yield Fund


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Pioneer Global High Yield Fund

Monthly Portfolio Holdings as of 1/30/2015

Security Name Coupon Maturity Date Par / Shares Market Value($)
Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A) 9.0 06/10/2028 47,000,000 3,095,249
JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35 2.5319 02/25/2035 5,923,886 2,114,002
Banque Centrale de Tunisie SA, 5.75%, 1/30/25 (144A) 5.75 01/30/2025 2,655,000 2,695,249
Inter-American Development Bank, 7.25%, 7/17/17 7.25 07/17/2017 5,140,000,000 422,542
Frontier Communications Corp., 7.125%, 1/15/23 7.125 01/15/2023 5,200,000 5,411,467
WireCo WorldGroup, Inc., 9.5%, 5/15/17 9.5 05/15/2017 1,100,000 1,111,061
Citrix Systems, Inc., 0.5%, 4/15/19 (144A) 0.5 04/15/2019 1,945,000 2,013,507
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 9.5 06/24/2019 3,545,787 2,901,586
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 6.75 04/30/2018 2,176,542 2,040,509
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 6.375 09/01/2024 1,900,000 2,058,942
Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A) 6.25 11/01/2023 2,000,000 2,031,650
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 5.78 03/16/2043 2,750,000 2,736,775
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 5.75 07/10/2017 1,029,744 1,024,274
Berau Capital Resources Pte, Ltd., 12.5%, 7/8/15 (144A) 12.5 07/08/2015 11,063,000 6,449,575
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 0.0 03/30/2019 1,000,000 1,181,300
CHS, 6.875%, 2/1/22 6.875 02/01/2022 5,675,000 6,222,638
Berau Coal Energy Tbk PT, 7.25%, 3/13/17 (144A) 7.25 03/13/2017 3,750,000 1,922,969
Talos Production LLC, 9.75%, 2/15/18 (144A) 9.75 02/15/2018 3,020,000 2,732,974
Monitronics International, Inc., Term B Loan (2013), 3/23/18 4.25 03/23/2018 2,251,630 2,245,062
Rosetta Resources, Inc., 5.875%, 6/1/22 5.875 06/01/2022 6,995,000 6,643,793
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,067,200 1,067,734
WideOpenWest Finance LLC, Term B Loan, 4/1/19 4.75 04/01/2019 1,343,073 1,336,693
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 1,500,000 1,456,536
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 5.0 08/16/2020 485,162 483,646
Cengage Learning Holdings II LP     11,492 259,145
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 4,400,000 4,428,111
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 2,050,000 2,142,592
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 3,370,000 3,384,744
Altice Financing SA, 6.625%, 2/15/23 (144A) 6.625 02/15/2023 1,320,000 1,320,000
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 4,340,000 3,726,613
Advanced Micro Devices, Inc., 7.0%, 7/1/24 7.0 07/01/2024 1,355,000 1,190,142
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 2,375,100 2,377,475
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 10.875 01/26/2021 1,025,000 984,523
Golar LNG, Ltd., 3.75%, 3/7/17 3.75 03/07/2017 800,000 768,763
Perseus Holding Corp., 14.0%, 3/31/15 14.0 03/31/2015 17,350 0
IAC, 4.875%, 11/30/18 4.875 11/30/2018 700,000 725,032
Mexican Bonos, 7.5%, 6/3/27 7.5 06/03/2027 1,800,000 143,456
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 7,165,000 6,014,221
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 1,675,000 1,860,146
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 1,960,000 2,208,087
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 1,860,000 1,613,550
Westgate Resorts 2014-A LLC, 6.25%, 10/20/26 (144A) 6.25 10/20/2026 750,000 668,128
Panolam Holdings Co.     894 657,984
14112z Zero% 01feb19 0.0 02/01/2019 3,900,000 3,953,820
DTEK Finance Plc, 7.875%, 4/4/18 (144A) 7.875 04/04/2018 925,000 394,379
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 5.875 06/24/2019 2,175,000 2,188,133
Trilogy Energy Corp., 7.25%, 12/13/19 (144A) 7.25 12/13/2019 1,775,000 1,302,368
Post Holdings, Inc., 7.375%, 2/15/22 7.375 02/15/2022 1,675,000 1,761,274
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 3,500,000 1,294,222
Windstream Corp., 7.75%, 10/15/20 7.75 10/15/2020 6,765,000 7,173,061
European Bank for Reconstruction & Development, 7.65%, 2/18/15 7.65 02/18/2015 43,400,000 751,344
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,475,000 1,350,936
Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A) 0.0 09/15/2037 8,875,000 1,196,705
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 8.625 12/31/2049 2,800,000 2,481,442
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 6,300,000 4,047,106
Empresa Electrica Angamos SA, 4.875%, 5/25/29 (144A) 4.875 05/25/2029 1,830,000 1,858,800
WESCO Distribution, Inc., 5.375%, 12/15/21 5.375 12/15/2021 4,365,000 4,427,717
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,093,300 1,094,065
Vanguard Natural Resources LLC, 7.875%, 4/1/20 7.875 04/01/2020 1,245,000 1,115,831
Russian Agricultural Bank OJSC Via RSHB Capital SA, 8.5%, 10/16/23 (144A) 8.5 10/16/2023 1,475,000 1,024,484
Mirabela Nickel, Ltd.     27,099,676 611,462
Advanced Micro Devices, Inc., 6.75%, 3/1/19 6.75 03/01/2019 5,070,000 4,959,094
EPL Oil & Gas, Inc., 8.25%, 2/15/18 8.25 02/15/2018 4,980,000 3,463,798
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 8.625 06/15/2019 3,089,777 3,112,242
Ormat Funding Corp., 8.25%, 12/30/20 8.25 12/30/2020 10,665,000 5,113,046
Provincia de Buenos Aires Argentina, 11.75%, 10/5/15 (144A) 11.75 10/05/2015 1,125,000 1,156,344
JBS Finance II, Ltd., 8.25%, 1/29/18 (144A) 8.25 01/29/2018 4,690,000 4,857,988
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 4.25 06/03/2019 1,034,255 1,023,912
Hilcorp Energy I LP, 5.0%, 12/1/24 (144A) 5.0 12/01/2024 3,790,000 3,442,583
SunPower Corp., 0.875%, 6/1/21 (144A) 0.875 06/01/2021 2,290,000 2,004,227
Equinix, Inc., 5.375%, 1/1/22 5.375 01/01/2022 1,600,000 1,672,961
IRSA Inversiones y Representaciones SA, 8.5%, 2/2/17 (144A) 8.5 02/02/2017 6,405,000 6,547,600
Seagate HDD Cayman, 4.75%, 6/1/23 4.75 06/01/2023 6,925,000 7,442,918
Prince Mineral Holding Corp., 12.0%, 12/15/19 (144A) 12.0 12/15/2019 1,560,000 1,616,117
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 9.0 01/29/2019 995,000 1,015,398
Kane-Pi2 Zero% 18jul16 0.0 07/18/2016 1,806,000 2,035,362
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 5.375 07/15/2022 2,535,000 2,522,043
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 5.75 12/15/2018 1,850,000 1,706,342
Kane Ilw Zero% 02feb16 0.0 02/02/2016 1,300,000 1,197,040
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 (144A) 5.25 04/01/2022 1,740,000 1,796,550
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 10.625 02/01/2016 5,075,000 4,266,172
Ford Motor Co.     335,730 4,938,588
DynCorp International, Inc., 10.375%, 7/1/17 10.375 07/01/2017 2,433,000 2,210,735
Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17 6.748 03/15/2017 10,600,000 1,303,100
LKQ Corp., 4.75%, 5/15/23 4.75 05/15/2023 1,250,000 1,228,160
Ziggo Bond Finance BV, 5.875%, 1/15/25 (144A) 5.875 01/15/2025 1,075,000 1,096,851
FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A) 6.876 06/27/2017 2,465,000 234,929
Pangaea Zero% 01jul18 0.0 07/01/2018 4,070,000 4,367,110
Energy XXI, Ltd., 3.0%, 12/15/18 3.0 12/15/2018 4,430,000 1,356,879
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 2.25 05/15/2041 1,605,000 1,372,877
Amsurg Corp., 5.625%, 7/15/22 (144A) 5.625 07/15/2022 2,555,000 2,647,619
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 405,000 561,608
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 2,400,000 2,530,300
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 7.375 11/01/2021 1,155,000 897,527
Metalloinvest Finance, Ltd., 6.5%, 7/21/16 (144A) 6.5 07/21/2016 2,660,000 2,518,503
United Continental Holdings, Inc., 6.0%, 7/15/26 6.0 07/15/2026 3,500,000 3,408,708
Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A) 8.625 02/01/2020 595,000 363,322
Kane Zero% 15jan16 0.0 01/15/2016 506,000 506,759
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 101,612 18,359
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 3.75 08/20/2025 700,000 364,096
Inversiones Alsacia SA, 8.0%, 12/31/18 (144A) 8.0 12/31/2018 5,992,701 4,378,745
Oasis Petroleum, Inc., 6.5%, 11/1/21 6.5 11/01/2021 2,840,000 2,637,650
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 3,045,000 3,425,282
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 11.0 10/01/2016 5,080,000 4,250,267
Alto Palermo SA, 7.875%, 5/11/17 (144A) 7.875 05/11/2017 5,750,000 5,563,125
LifePoint Hospitals, Inc., 5.5%, 12/1/21 5.5 12/01/2021 4,300,000 4,559,792
Banco de Galicia y Buenos Aires SA, 8.75%, 5/4/18 (144A) 8.75 05/04/2018 5,050,000 5,207,286
Windstream Corp., 8.125%, 9/1/18 8.125 09/01/2018 5,700,000 6,135,219
Ally Financial, Inc., 7.0% (Perpetual) (144A) 7.0 12/31/2049 3,100 3,115,597
CommScope, Inc., 5.0%, 6/15/21 (144A) 5.0 06/15/2021 1,475,000 1,429,111
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 5.625 04/17/2020 2,525,000 1,952,759
Corp Pesquera Inca SAC, 9.0%, 2/10/17 (144A) 9.0 02/10/2017 9,720,000 10,038,330
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 4.125 03/15/2018 10,750,000 6,080,021
Windstream Corp., 7.75%, 10/1/21 7.75 10/01/2021 2,300,000 2,393,917
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,250,000 801,719
Evraz Inc NA Canada, 7.5%, 11/15/19 (144A) 7.5 11/15/2019 2,300,000 2,012,500
Memorial Resource Development Corp., 5.875%, 7/1/22 (144A) 5.875 07/01/2022 1,525,000 1,395,216
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 9,652,000 9,368,070
T-Mobile USA, Inc., 6.633%, 4/28/21 6.633 04/28/2021 1,940,000 2,015,277
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (PIK) 10.0 04/30/2018 2,387,885 1,851,274
Altrl Zero% 30jun16 0.0 06/30/2016 3,314,020 2,359,583
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 8,395,000 5,573,475
KP Germany Erste GmbH, 11.625%, 7/15/17 (144A) 11.625 07/15/2017 2,500,000 3,080,894
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 5.25 02/01/2021 1,335,000 1,317,044
INEOS Group Holdings SA, 5.75%, 2/15/19 (144A) 5.75 02/15/2019 4,325,000 4,917,230
Suntech Power Holdings Co, Ltd., 0.0%, 3/31/15 0.0 03/31/2015 535,000 162,488
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 6.5 12/15/2020 2,100,000 2,169,942
Gentiva Health Services, Inc., 11.5%, 9/1/18 11.5 09/01/2018 833,000 922,895
AES Corp. Virginia, 5.5%, 3/15/24 5.5 03/15/2024 1,350,000 1,381,425
Equinix, Inc., 5.375%, 4/1/23 5.375 04/01/2023 2,910,000 3,071,263
PERSEUS HOLDING Corp., 0.0%, 12/31/49 (Perpetual) 0.0 12/31/2049 33,046 0
Belden, Inc., 5.5%, 4/15/23 (144A) 5.5 04/15/2023 1,800,000 2,162,310
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 11.5 02/15/2018 10,175,000 3,296,559
NeuStar, Inc., 4.5%, 1/15/23 4.5 01/15/2023 1,700,000 1,490,900
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 33,500 3,839,100
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 6.0 06/15/2021 2,100,000 2,200,100
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 5,947,500 5,925,197
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 2,880,000 2,985,077
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 12.0 07/01/2019 2,528,093 2,452,250
Alpha Natural Resources, Inc., 6.0%, 6/1/19 6.0 06/01/2019 315,000 88,200
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 9.875 02/01/2020 6,800,000 7,407,750
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/15/35 (144A) 7.08 12/15/2035 9,000,000 4,985,010
Kane Zero% 19feb16 0.0 02/19/2016 3,120,000 3,168,048
Unit Corp., 6.625%, 5/15/21 6.625 05/15/2021 3,765,000 3,591,758
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 12.0152 03/12/2015 2,150,000 2,258,790
East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A) 6.6703 03/13/2015 750,000 760,250
Telenet Finance V Luxembourg SCA, 6.25%, 8/15/22 (144A) 6.25 08/15/2022 1,600,000 2,009,127
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 4.2787 05/23/2018 475,000 482,315
General Cable Corp., 5.75%, 10/1/22 5.75 10/01/2022 3,250,000 2,694,792
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 8.5 04/03/2018 4,373,318 4,358,742
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 7.2575 02/13/2015 500,000 508,625
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 2,000,000 275,400
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.0152 06/06/2015 750,000 776,438
Kodiak Oil & Gas Corp., 8.125%, 12/1/19 8.125 12/01/2019 5,215,000 5,376,882
Swift Energy Co., 8.875%, 1/15/20 8.875 01/15/2020 2,410,000 853,006
Stone Energy Corp., 7.5%, 11/15/22 7.5 11/15/2022 3,800,000 3,366,167
Ukraine Government International Bond, 7.8%, 11/28/22 (144A) 7.8 11/28/2022 1,650,000 847,721
Ferrexpo Finance Plc, 7.875%, 4/7/16 (144A) 7.875 04/07/2016 5,296,000 4,103,998
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 2,800,000 1,492,167
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 4,000,000 4,117,500
Targa Resources Partners LP, 4.25%, 11/15/23 4.25 11/15/2023 4,350,000 4,106,279
BioScrip, Inc., Initial Term B Loan, 7/31/20 6.5 07/31/2020 696,116 695,536
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 6.125 09/15/2023 3,225,000 3,589,873
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 1,270,000 1,161,891
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 4,620,000 4,849,332
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 8.25 06/07/2021 8,263,000 7,586,755
Vers 2015-A Zero% 31dec17 0.0 12/31/2017 3,800,000 3,829,640
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 7.75 10/28/2020 3,720,000 3,904,962
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 0.5565 07/15/2031 12,652,000 5,079,755
KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A) 4.4 04/30/2023 1,000,000 886,182
CFG Investment SAC, 9.75%, 7/30/19 (144A) 9.75 07/30/2019 4,450,000 3,933,893
WebMD Health Corp., 1.5%, 12/1/20 1.5 12/01/2020 3,750,000 3,752,745
Nuance Communications, Inc., 2.75%, 11/1/31 2.75 11/01/2031 3,140,000 3,120,375
ARIAD Pharmaceuticals, Inc., 3.625%, 6/15/19 (144A) 3.625 06/15/2019 1,675,000 1,660,774
Province of Salta Argentina, 9.5%, 3/16/22 (144A) 9.5 03/16/2022 3,600,000 2,953,726
Cincinnati Bell, Inc., 8.375%, 10/15/20 8.375 10/15/2020 4,790,000 5,156,601
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 8.875 11/01/2017 6,900,000 7,173,844
Kane Zero% 22jan16 0.0 01/22/2016 1,000,000 1,007,600
Union Andina de Cementos SAA, 5.875%, 10/30/21 (144A) 5.875 10/30/2021 820,000 823,978
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 1,075,000 725,709
Pro Mach Group, Inc., Dollar Term Loan (First Lien), 10/20/21 5.5 10/20/2021 539,770 541,119
Kindred Healthcare, Inc., 6.375%, 4/15/22 6.375 04/15/2022 2,400,000 2,355,050
Fresnillo Plc, 5.5%, 11/13/23 (144A) 5.5 11/13/2023 1,825,000 1,917,467
Queen Street VI Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 10.3855 04/09/2015 300,000 305,906
VimpelCom Holdings BV, 9.0%, 2/13/18 (144A) 9.0 02/13/2018 38,400,000 467,148
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 3,775,000 3,390,328
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 8,405,000 8,378,734
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 3.618 05/08/2031 1,175,000 1,180,652
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 9.5 05/04/2020 12,248,000 11,717,764
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 6,285,000 6,347,850
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 4,240,000 2,271,933
Cobalt International Energy, Inc., 2.625%, 12/1/19 2.625 12/01/2019 5,335,000 3,591,122
Inter-American Development Bank, 4.5%, 2/4/16 4.5 02/04/2016 11,650,000,000 936,839
New World Resources NV, 4.0%, 10/7/20 (PIK) 4.0 10/07/2020 237,096 109,975
WebMD Health Corp., 2.5%, 1/31/18 2.5 01/31/2018 3,485,000 3,491,776
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 22.0152 06/06/2016 1,600,000 1,888,658
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 5.25 12/31/2049 6,225,000 6,538,066
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 6.75 05/23/2019 994,850 996,094
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 (144A) 6.5 04/15/2021 4,025,000 3,558,659
Vertafore, Inc., Term Loan (Second Lien), 10/29/17 9.75 10/29/2017 3,500,000 3,520,416
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 10,345,000 12,008,102
Memorial Production Partners LP, 7.625%, 5/1/21 7.625 05/01/2021 3,000,000 2,749,688
Endo Finance LLC, 5.375%, 1/15/23 (144A) 5.375 01/15/2023 6,165,000 6,087,253
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 10.5 05/14/2024 1,625,000 1,222,745
Standard Pacific Corp., 6.25%, 12/15/21 6.25 12/15/2021 5,810,000 5,972,599
Sprint Corp., 7.25%, 9/15/21 7.25 09/15/2021 1,800,000 1,846,600
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 7.5051 04/09/2015 2,000,000 2,027,283
Wells Enterprises, Inc., 6.75%, 2/1/20 (144A) 6.75 02/01/2020 1,144,000 1,205,490
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3.75 08/23/2019 3,182 3,171
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 8.875 01/24/2022 3,525,000 3,163,602
Arcos Dorados Holdings, Inc., 6.625%, 9/27/23 (144A) 6.625 09/27/2023 887,000 841,825
European Bank for Reconstruction & Development, 6.0%, 3/3/16 6.0 03/03/2016 52,600,000 872,850
InterGen NV, 7.0%, 6/30/23 (144A) 7.0 06/30/2023 1,500,000 1,411,542
Kane Flt% 30jul16   07/30/2016 1,006,000 1,098,653
Banco Santander SA, Floating Rate Note (Perpetual) 6.375 12/31/2049 2,400,000 2,382,600
Indonesia Treasury Bond, 8.25%, 6/15/32 8.25 06/15/2032 40,352,000,000 3,470,519
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 4,315,000 4,536,966
Viasystems, Inc., 7.875%, 5/1/19 (144A) 7.875 05/01/2019 4,750,000 5,110,703
Newhall Land Development LLC     161,215 574,328
Kane Flt% 12jun15   06/12/2015 2,400,000 2,300,160
Metinvest BV, 8.75%, 2/14/18 (144A) 8.75 02/14/2018 8,350,000 4,096,429
Altice Finco SA, 8.125%, 1/15/24 (144A) 8.125 01/15/2024 600,000 624,667
Scitor Corp., Term Loan, 2/15/17 5.0 02/15/2017 2,177,194 2,160,865
Scientific Games International, Inc., 10.0%, 12/1/22 (144A) 10.0 12/01/2022 17,000,000 15,928,056
TAM Capital 3, Inc., 8.375%, 6/3/21 (144A) 8.375 06/03/2021 3,250,000 3,418,977
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 1,300,000 882,753
Meritor, Inc., 6.75%, 6/15/21 6.75 06/15/2021 3,150,000 3,295,294
CCOH Safari LLC, 5.5%, 12/1/22 5.5 12/01/2022 3,000,000 3,068,750
Cambium Learning Group, Inc., 9.75%, 2/15/17 9.75 02/15/2017 4,225,000 4,351,574
Kane Zero% 22jan16 0.0 01/22/2016 2,600,000 2,613,780
Rosetta Resources, Inc., 5.875%, 6/1/24 5.875 06/01/2024 1,935,000 1,784,634
Citigroup, Inc., Floating Rate Note (Perpetual) 7.125 12/31/2049 160,000 4,336,000
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 6.875 08/01/2022 3,225,000 2,860,732
Jupiter Resources, Inc., 8.5%, 10/1/22 (144A) 8.5 10/01/2022 3,135,000 2,449,698
Wells Fargo & Co., Floating Rate Note (Perpetual) 5.875 12/31/2049 3,175,000 3,322,020
Dycom Investments, Inc., 7.125%, 1/15/21 7.125 01/15/2021 2,230,000 2,326,262
Access Bank Plc, Floating Rate Note, 6/24/21 (144A) 9.25 06/24/2021 3,485,000 2,908,954
NuStar Logistics LP, Floating Rate Note, 1/15/43 7.625 01/15/2043 114,817 2,990,983
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.63 10/12/2017 12,000,000 1,573,571
Lennar Corp., 4.75%, 11/15/22 4.75 11/15/2022 4,450,000 4,467,924
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 2,500,000 2,575,000
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.9588 05/15/2046 1,480,000 1,411,334
Outerwall, Inc., 5.875%, 6/15/21 (144A) 5.875 06/15/2021 3,205,000 3,004,710
Agrokor dd, 9.875%, 5/1/19 (144A) 9.875 05/01/2019 3,200,000 4,007,642
Vimpel Communications Via VIP Finance Ireland, Ltd. OJSC, 7.748%, 2/2/21 (144A) 7.748 02/02/2021 7,800,000 6,930,493
GCI, Inc., 6.75%, 6/1/21 6.75 06/01/2021 500,000 504,375
UBS AG, 7.625%, 8/17/22 7.625 08/17/2022 5,650,000 6,940,302
Altrl Zero% 30jun17 0.0 06/30/2017 1,440,000 1,446,912
Horizon Lines, Inc.     2,370,345 1,493,317
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 5.55 10/28/2020 4,000,000 3,548,150
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 0.0 09/18/2017 1,800,000 1,830,960
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 10.5 12/15/2018 5,750,000 6,143,971
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 8.133 09/24/2073 2,995,000 3,640,776
Citigroup, Inc., Floating Rate Note (Perpetual) 5.9 12/31/2049 2,150,000 2,205,804
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6.0 12/31/2049 16,300 959,663
DAE Aviation Holdings, Inc., Replacement Tranche B-1 Loan, 11/2/18 5.0 11/02/2018 3,705,066 3,706,215
Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 6.0371 01/15/2015 792,928 269,596
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 4,430,000 4,453,534
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 7.25 04/03/2024 4,800,000 4,880,467
Fts International Inc 1st Lien Term L + 4.75% 01apr21 5.75 04/01/2021 0 0
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 0.0 12/01/2019 950,000 961,875
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 1,246,000 1,411,537
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 3,200,000 3,604,156
CEVA GROUP Plc, 0.0%, 12/31/14 0.0 03/31/2015 3,428 2,485,423
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 4.25 12/20/2019 1,847,452 1,821,473
Indo Energy Finance II BV, 6.375%, 1/24/23 (144A) 6.375 01/24/2023 1,900,000 1,246,855
Energy Transfer Equity LP, 5.875%, 1/15/24 5.875 01/15/2024 2,790,000 2,902,468
Empresa de Telecomunicaciones de Bogota, 7.0%, 1/17/23 (144A) 7.0 01/17/2023 1,626,000,000 643,364
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 7.5 09/15/2020 2,000,000 2,006,667
Ukraine Government International Bond, 6.75%, 11/14/17 (144A) 6.75 11/14/2017 575,000 306,727
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 4,435,000 471,219
Resolute Forest Products, Inc., 5.875%, 5/15/23 5.875 05/15/2023 3,735,000 3,613,249
Bank of America Corp., Floating Rate Note, 10/23/49 6.5 10/23/2049 2,050,000 2,183,007
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 5.125 08/01/2022 2,440,000 2,442,567
Nexteer Automotive Group, Ltd., 5.875%, 11/15/21 (144A) 5.875 11/15/2021 1,462,000 1,480,610
Rwanda International Government Bond, 6.625%, 5/2/23 (144A) 6.625 05/02/2023 2,000,000 2,032,757
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 8.75 05/15/2018 6,950,000 8,229,041
Mercer International, Inc., 7.0%, 12/1/19 (144A) 7.0 12/01/2019 2,025,000 2,091,094
Gentiva Health Services, Inc., Initial Term B Loan, 10/10/19 6.5 10/10/2019 1,024,365 1,025,485
Abengoa Finance SAU, 6.0%, 3/31/21 (144A) 6.0 03/31/2021 640,000 675,572
Geely Automobile Holdings, Ltd., 5.25%, 10/6/19 (144A) 5.25 10/06/2019 2,700,000 2,775,656
Mexican Udibonos, 3.5%, 12/14/17 3.5 12/14/2017 2,050,000 777,296
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 3,785,000 4,193,911
Bombardier, Inc., 6.0%, 10/15/22 (144A) 6.0 10/15/2022 243,000 237,720
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 4,990,000 5,049,256
Denbury Resources, Inc., 5.5%, 5/1/22 5.5 05/01/2022 3,695,000 3,302,406
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 6.75 12/31/2049 13,430,000 15,296,233
Kane Flt% 14jul15 0.0 07/14/2015 814,976 795,009
Mexican Udibonos, 2.0%, 6/9/22 2.0 06/09/2022 44,000,000 15,411,936
Cott Beverages, Inc., 5.375%, 7/1/22 (144A) 5.375 07/01/2022 3,200,000 2,886,333
Romania Government Bond, 5.95%, 6/11/21 5.95 06/11/2021 1,220,000 388,189
Indonesia Treasury Bond, 7.0%, 5/15/22 7.0 05/15/2022 53,000,000,000 4,269,155
Pesquera Exalmar S.A.A., 7.375%, 1/31/20 (144A) 7.375 01/31/2020 6,500,000 5,254,144
MMM Holdings, Inc., MMM Term Loan, 12/12/17 9.75 12/12/2017 804,800 780,656
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 6.0 12/15/2022 5,340,000 5,140,640
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 13,467 568,457
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 4,755,000 4,992,750
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,101,200 1,101,530
Freeport-McMoRan, Inc.     45,168 759,274
Kane Zero% 22jan17 0.0 01/22/2017 5,400,000 5,497,200
Scientific Games International, Inc., 6.25%, 9/1/20 6.25 09/01/2020 625,000 453,776
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 6.75 04/15/2022 1,000,000 921,125
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 6.5 07/01/2036 75,878 2,037
Altice Financing SA, 6.5%, 1/15/22 (144A) 6.5 01/15/2022 2,800,000 2,864,089
Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A) 6.95 11/10/2021 940,000 997,685
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 4,640,000 4,347,100
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 7.0 12/01/2018 2,200,000 2,258,667
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 5.918 09/25/2036 1,523,000 1,372,200
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 7.5043 03/01/2022 4,875,000 4,203,946
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 1,599,575
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 2,565,000 2,719,434
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 9.75 12/12/2017 585,099 579,248
City of Buenos Aires Argentina, 12.5%, 4/6/15 (144A) 12.5 04/06/2015 5,200,000 5,446,639
Intelsat Jackson Holdings SA, 6.625%, 12/15/22 6.625 12/15/2022 4,300,000 4,443,901
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 8.0 12/01/2018 9,820,000 9,803,633
Petroleos Mexicanos, 7.19%, 9/12/24 (144A) 7.19 09/12/2024 8,650,000 612,208
BreitBurn Energy Partners LP, 7.875%, 4/15/22 7.875 04/15/2022 2,830,000 1,876,821
Heckler & Koch GmbH, 9.5%, 5/15/18 (144A) 9.5 05/15/2018 4,700,000 4,014,875
FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A) 6.125 03/25/2019 1,865,000 82,555
Bumi Resources Tbk PT, Loan, 11/7/15 18.153 11/07/2015 4,700,000 1,598,000
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 6.75 07/15/2021 1,230,000 1,244,453
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 2,980,000 3,292,900
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 3,850,000 3,627,021
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 4.25 07/01/2021 3,096,239 3,087,046
Akbank TAS, 7.5%, 2/5/18 (144A) 7.5 02/05/2018 4,500,000 1,834,229
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 9.25 01/24/2020 4,400,000 2,317,914
NRG Energy, Inc., 6.25%, 5/1/24 (144A) 6.25 05/01/2024 7,100,000 7,193,188
T-Mobile USA, Inc., 6.731%, 4/28/22 6.731 04/28/2022 1,300,000 1,347,854
Romania Government Bond, 5.85%, 4/26/23 5.85 04/26/2023 24,770,000 8,088,369
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.5051 04/09/2015 900,000 914,833
GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A) 7.5 02/11/2020 3,260,000 2,474,492
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 4.75 01/31/2021 2,530,875 2,499,239
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 3,000,000 2,611,250
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 6,450,000 4,919,791
Cemex SAB de CV, 3.75%, 3/15/18 3.75 03/15/2018 8,300,000 9,413,583
Belvedere SA, 12/23/16   12/23/2016 5,578,091 251,962
International Finance Corp., 7.75%, 12/3/16 7.75 12/03/2016 241,840,000 4,109,491
Numericable-SFR, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 1,250,000 1,313,208
Belden, Inc., 5.25%, 7/15/24 (144A) 5.25 07/15/2024 1,000,000 967,333
Altice SA, 7.75%, 5/15/22 (144A) 7.75 05/15/2022 2,025,000 2,168,241
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 7.75 01/31/2023 15,300,000 15,322,419
Berkeley-Kane Flt% 12jun15   06/12/2015 903,800 938,054
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 7.0 11/15/2020 2,400,000 422,906
Ardagh Finance Holdings SA, 8.375%, 6/15/19 (144A) (PIK) 8.375 06/15/2019 417,028 466,801
Ardagh Packaging Finance Plc, 9.25%, 10/15/20 (144A) 9.25 10/15/2020 2,100,000 2,595,518
Old AII, Inc., 0.0%, 12/15/16 0.0 12/15/2016 6,510,000 2,036,248
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 3,355,000 3,470,049
National Surgical Hospitals, Inc., Tranche B-2 Term Loan, 7/11/19 5.25 07/11/2019 1,481,306 1,473,900
Virtual Radiologic Corp., Term Loan A, 12/22/16 7.2502 12/22/2016 1,068,372 854,697
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 6.75 03/15/2023 4,750,000 4,812,862
Sector Re V, Ltd., 0.0%, 3/1/18 (Cat Bond) (144A) 0.0 03/01/2018 3,533 89,999
Boing Group Financing Plc, 6.625%, 7/15/19 (144A) 6.625 07/15/2019 3,285,000 3,416,301
Inter-American Development Bank, 6.0%, 9/5/17 6.0 09/05/2017 42,350,000 714,893
Kindred Healthcare Inc Bridge L + 6% 09oct15 7.0 10/09/2015 5,960,000 5,960,000
Aguila 3 SA, 7.875%, 1/31/18 (144A) 7.875 01/31/2018 5,200,000 5,327,888
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 6.75 07/02/2018 1,284,559 1,287,369
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 212,000 5,406,000
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/34 1.1433 11/25/2034 1,700,000 1,249,919
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6.875 11/01/2019 6,210,000 5,012,634
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 5.135 10/15/2039 1,502,000 1,559,489
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 6.5 07/31/2020 417,670 417,322
Arcos Dorados Holdings, Inc., 10.25%, 7/13/16 (144A) 10.25 07/13/2016 4,250,000 1,487,391
Iap Worldwide Services Inc 2nd Lien Tl L + 6.5% 18jul19 6.7308 07/18/2019 500,885 445,788
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8.25 10/19/2019 8,764,000 1,300,359
Towergate Finance Plc, 10.5%, 2/15/19 (144A) 10.5 02/15/2019 4,840,000 1,246,311
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 4,870,000 4,240,958
Chaparral Energy, Inc., 7.625%, 11/15/22 7.625 11/15/2022 2,596,000 1,547,468
Sanchez Energy Corp., 7.75%, 6/15/21 7.75 06/15/2021 1,500,000 1,469,854
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 135,483 59,668
CEDC Finance Corp International, Inc., 9.0%, 4/30/18 (Step) 9.0 04/30/2018 4,829,992 4,173,113
Desarrolladora Homex SAB de CV, 0.0%, 12/11/19 (144A) 0.0 12/11/2019 9,802,000 2,677,852
Pacific Rubiales Energy Corp., 5.375%, 1/26/19 (144A) 5.375 01/26/2019 7,570,000 4,982,926
Kenya Government International Bond, 6.875%, 6/24/24 (144A) 6.875 06/24/2024 2,886,000 3,021,651
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 7.25 05/01/2022 3,650,000 3,551,906
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 0.5965 07/15/2031 1,102,000 442,464
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 6.75 12/01/2021 1,375,000 1,359,531
Comstock Resources, Inc., 9.5%, 6/15/20 9.5 06/15/2020 2,000,000 1,044,278
SM Energy Co., 6.5%, 1/1/23 6.5 01/01/2023 1,650,000 1,625,938
LDK Solar Co, Ltd., 5.535%, 12/31/18 (PIK) 5.535 12/31/2018 2,266,700 15,334
EP Energy LLC, 9.375%, 5/1/20 9.375 05/01/2020 13,700,000 14,123,844
Republic of Ghana, 7.875%, 8/7/23 (144A) 7.875 08/07/2023 2,335,000 2,132,001
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.9588 05/15/2046 455,000 396,630
Empresa Distribuidora Y Comercializadora Norte, 9.75%, 10/25/22 (144A) 9.75 10/25/2022 811,000 566,964
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 8.5 05/15/2018 7,490,000 7,774,204
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 5.9505 05/15/2046 775,000 810,328
Energy Transfer Partners LP, Floating Rate Note, 11/1/66 3.2499 11/01/2066 950,000 843,890
Aircraft Finance Trust, Floating Rate Note, 5/15/24 0.6465 05/15/2024 11,396,000 2,384,248
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 6.875 06/24/2019 3,615,000 3,161,556
Griffon Corp., 5.25%, 3/1/22 5.25 03/01/2022 6,750,000 6,627,656
Iap Worldwide Services Inc     63 48,138
BTA Bank JSC (G.D.R.) (144A)     24,638 14,019
Cemex Finance LLC, 6.0%, 4/1/24 (144A) 6.0 04/01/2024 600,000 576,900
Banco Macro SA, Floating Rate Note, 12/18/36 9.75 12/18/2036 820,000 766,000
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 6.0404 04/10/2015 250,000 251,634
Minerva Luxembourg SA, 12.25%, 2/10/22 (144A) 12.25 02/10/2022 3,755,000 4,382,789
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 7.0 05/15/2022 1,000,000 1,097,278
Mentor Graphics Corp., 4.0%, 4/1/31 4.0 04/01/2031 1,025,000 1,254,557
BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A) 6.75 09/30/2022 1,250,000 1,441,334
Arlington Flt% 01aug15 0.0 08/01/2015 1,450,000 1,584,850
Unifin Financiera SAPI de CV SOFOM ENR, 6.25%, 7/22/19 (144A) 6.25 07/22/2019 4,000,000 3,486,250
Salix Pharmaceuticals, Ltd., 6.0%, 1/15/21 (144A) 6.0 01/15/2021 1,320,000 1,409,320
Frontier Communications Corp., 8.5%, 4/15/20 8.5 04/15/2020 2,940,000 3,381,082
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 8.5 10/15/2022 2,860,000 3,203,279
Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A) 7.506 12/31/2049 8,535,000 8,963,572
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 6.0117 02/15/2051 2,100,000 2,156,206
International Finance Corp., 8.25%, 6/10/21 8.25 06/10/2021 240,670,000 4,512,513
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3.5 03/01/2021 2,770,000 1,840,896
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 4.4 04/15/2019 1,000,000 1,014,773
Videotron, Ltd., 5.375%, 6/15/24 (144A) 5.375 06/15/2024 3,250,000 3,353,571
Icon Health & Fitness, Inc., 11.875%, 10/15/16 (144A) 11.875 10/15/2016 5,000,000 5,074,826
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 3.7753 11/25/2019 1,000,000 1,001,825
Towergate Finance Plc, Floating Rate Note, 2/15/18 (144A) 6.0534 02/15/2018 1,200,000 1,618,748
Sanchez Energy Corp., 6.125%, 1/15/23 (144A) 6.125 01/15/2023 3,765,000 3,342,274
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 5.75 02/01/2023 2,165,000 1,885,339
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 355,600 9,352,280
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 7,825,000 5,350,235
Ecuador Government International Bond, 7.95%, 6/20/24 (144A) 7.95 06/20/2024 2,510,000 2,244,076
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 8.0 01/15/2020 1,320,000 1,413,397
Alfa Bank OJSC Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A) 7.5 09/26/2019 4,000,000 3,493,727
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/9/19 (144A) 4.918 05/09/2019 840,000 827,397
Transportadora de Gas del Sur SA, 9.625%, 5/14/20 (144A) 9.625 05/14/2020 6,917,602 5,191,246
Bank of America Corp., Floating Rate Note, 9/29/49 6.25 09/29/2049 3,900,000 4,087,033
CEVA GROUP Plc     1,584 1,148,146
LDK Solar Co, Ltd. (A.D.R.)     158,800 13,959
Rent-A-Center, Inc., 4.75%, 5/1/21 4.75 05/01/2021 2,710,000 2,349,231
Standard Aero, Ltd., Replacement Tranche B-2 Loan, 11/2/18 5.0 11/02/2018 1,679,609 1,678,210
Intelsat Luxembourg SA, 7.75%, 6/1/21 7.75 06/01/2021 4,000,000 4,016,667
EC Finance Plc, 5.125%, 7/15/21 (144A) 5.125 07/15/2021 3,695,000 4,327,140

The portfolio is actively managed, and current holdings may be different.

For fund descriptions, historical and current performance, standardized returns as of the most recent quarter-end, risk disclosure or a prospectus, please click here.

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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