Pioneer Investments: Pioneer Dynamic Credit Fund


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Pioneer Dynamic Credit Fund

Monthly Portfolio Holdings as of 5/30/2014

Security Name Coupon Maturity Date Par / Shares Market Value($)
CHS, 7.125%, 7/15/20 7.125 07/15/2020 165,000 183,466
Wilton Re Finance LLC, Floating Rate Note, 3/30/33 (144A) 5.875 03/30/2033 165,000 173,628
Neuberger Berman Group LLC, 5.625%, 3/15/20 (144A) 5.625 03/15/2020 100,000 107,188
Quebecor Media, Inc., 8/17/20 3.25 08/01/2020 236,691 234,669
Valeant Pharmaceuticals International, 6.375%, 10/15/20 (144A) 6.375 10/15/2020 510,000 549,854
WESCO Distribution, Inc., 12/12/19 3.75 12/04/2019 165,030 165,211
Albea Beauty Holdings SA, 8.375%, 11/1/19 (144A) 8.375 11/01/2019 255,000 278,455
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 11.2652 11/10/2015 250,000 263,734
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 7.78 03/25/2027 5,850,000 273,092
Tenet Healthcare Corp., 4.375%, 10/1/21 4.375 10/01/2021 980,000 980,715
Post Holdings, Inc., 2.5%, 12/31/49 (Perpetual) (144A) 2.5 12/31/2049 11,800 1,198,438
Unifrax I LLC, 11/28/18 4.25 12/31/2019 320,313 320,313
Sabre GLBL, Inc., 2/19/19 4.25 02/01/2019 199,495 200,143
Production Resource Group, Inc., 8.875%, 5/1/19 8.875 05/01/2019 100,000 79,740
Navios Maritime Partners LP, 6/27/18 5.25 06/27/2018 398,000 403,224
Ngls 4.25% 15nov23 4.25 11/15/2023 740,000 700,698
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 385,000 425,425
Brown Shoe Co, Inc., 7.125%, 5/15/19 7.125 05/15/2019 750,000 794,578
Mill US Acquisition LLC, 7/3/20 4.75 05/23/2020 868,936 875,019
DaVita HealthCare Partners, Inc., 11/1/19 4.0 08/01/2019 98,750 99,226
Arysta Lifescience SPC LLC, 5/29/20 4.5 05/22/2020 1,272,544 1,275,725
Univar, Inc., 6/30/17 5.0 02/14/2017 267,897 268,471
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 1,645,000 1,753,467
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 5.75 08/25/2036 1,200,000 194,832
Mythen Re, Ltd., Floating Rate Note, 5/7/15 (Cat Bond) (144A) 8.2229 05/07/2015 250,000 261,859
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 100,000 115,276
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 330,000 373,008
Hostess Brands, Inc., 4/9/20 6.75 02/25/2020 680,000 708,050
Heckler & Koch GmbH, 9.5%, 5/15/18 (144A) 9.5 05/15/2018 100,000 144,412
Securus Technologies Holdings, Inc., 4/30/20 4.75 04/17/2020 497,999 498,123
The Ryland Group, Inc., 0.25%, 6/1/19 0.25 06/01/2019 2,000,000 1,857,500
Drill Rigs Holdings, Inc., 6.5%, 10/1/17 (144A) 6.5 10/01/2017 845,000 885,842
Neiman Marcus Group, Ltd. LLC, 8.75%, 10/15/21 (144A) (PIK) 8.75 10/15/2021 500,000 556,840
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 8.25 06/07/2021 900,000 1,042,808
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 335,000 328,754
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 600,000 601,100
RREF 2012 LT1 LLC, 2.85%, 5/15/24 2.85 05/15/2024 1,000,000 1,001,851
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 (144A) 5.25 04/01/2022 645,000 675,006
COBALT CMBS Commercial Mortgage Trust 2007-C2, Floating Rate Note, 4/15/47 (144A) 5.568 04/15/2047 1,200,000 1,235,437
KKR Group Finance Co II LLC, 5.5%, 2/1/43 (144A) 5.5 02/01/2043 1,150,000 1,247,785
Gator Re, Ltd., Floating Rate Note, 1/9/17 (Cat Bond) (144A)   01/09/2017 600,000 595,080
GS Mortgage Securities Corp II Series 2004-GG2, Floating Rate Note, 8/10/38 5.8546 08/10/2038 200,000 200,859
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.5668 04/10/2038 1,475,000 1,520,297
CAM Mortgage Trust 2014-1, 5.5%, 12/15/53 (Step) (144A) 5.5 12/15/2053 750,000 750,467
Hospitality Properties Trust, 5.0%, 8/15/22 5.0 08/15/2022 900,000 973,105
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 3.5304 05/05/2017 1,000,000 996,233
Elior Finance & Co SCA, 6.5%, 5/1/20 (144A) 6.5 05/01/2020 900,000 1,353,543
New World Resources NV, 7.875%, 1/15/21 (144A) 7.875 01/15/2021 300,000 85,897
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 500,000 441,860
OneBeacon US Holdings, Inc., 4.6%, 11/9/22 4.6 11/09/2022 1,000,000 1,021,173
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 6.125 09/15/2023 1,700,000 1,896,232
NBTY, Inc., 10/1/17 3.5 10/01/2017 750,000 751,289
Israel Electric Corp, Ltd., 5.625%, 6/21/18 (144A) 5.625 06/21/2018 900,000 980,454
Motel 6 Trust, 4.2743%, 10/5/25 (144A) 4.2743 10/05/2025 1,327,000 1,318,721
Air Canada 2013-1 Class A Pass Through Trust, 4.125%, 11/15/26 (144A) 4.125 05/15/2025 500,000 491,997
Steward Health Care System LLC, 4/10/20 6.75 04/12/2020 496,250 490,667
PARTY CITY HOLDINGS INC, 2014 Replacement Term Loan, 7/27/19 4.0 07/27/2019 934,658 932,711
Rfp 5.875% 15may23 5.875 05/15/2023 1,610,000 1,557,854
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 800,000 812,000
NRG Energy, Inc., 7.625%, 1/15/18 7.625 01/15/2018 900,000 1,053,050
Ruby Western Pipeline Holdings LLC, 3/27/20 3.5 03/27/2020 267,112 267,363
Boart Longyear Management Pty, Ltd., 10.0%, 10/1/18 (144A) 10.0 10/01/2018 220,000 233,567
Steel Dynamics, Inc., 5.25%, 4/15/23 5.25 04/15/2023 1,000,000 1,029,208
NorthStar 2012-1 Mortgage Trust, Floating Rate Note, 8/25/29 (144A) 4.395 08/25/2029 300,000 304,438
Leaf Receivables Funding 8 LLC, 5.5%, 9/15/20 (144A) 5.5 09/15/2020 145,527 147,702
Southern California Edison Co., Floating Rate Note, 12/31/49 (Perpetual) 6.25 08/01/2049 75,000 82,375
BBVA Bancomer SA Texas, 6.5%, 3/10/21 (144A) 6.5 03/10/2021 400,000 452,278
Government National Mortgage Association, Floating Rate Note, 3/16/53 1.0489 03/16/2053 350,000 25,486
Hearthside Group Holdings Llc 1st Lien Tl L + 3.5% 24apr21   04/24/2021 250,000 251,250
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 12.0304 03/12/2015 250,000 264,550
Allied Security Holdings LLC, 2/12/21 1.625 02/12/2021 480,000 478,875
Aspen Insurance Holdings, Ltd., Floating Rate Note, 12/31/49 (Perpetual) 5.95   25,000 634,000
Seadrill Operating LP, 2/14/21 4.0 02/14/2021 847,875 845,159
MedAssets, Inc., 8.0%, 11/15/18 8.0 11/15/2018 175,000 186,122
Pro Mach, Inc., 7/6/17 4.5 07/16/2017 868,300 870,471
Massachusetts Water Resources Authority, 5.0%, 8/1/37 5.0 08/01/2037 1,000,000 1,135,207
Gtech Spa, Floating Rate Note, 3/31/66 (144A) 8.25 03/31/2066 300,000 447,575
Samson Investment Co., 10.5%, 2/15/20 (144A) 10.5 02/15/2020 390,000 419,895
Boart Longyear Management Pty, Ltd., 7.0%, 4/1/21 (144A) 7.0 04/01/2021 1,670,000 1,271,983
Citrus Re, Ltd., Floating Rate Note, 4/18/17 (Cat Bond) (144A)   04/18/2017 250,000 245,450
JP Morgan Chase Commercial Mortgage Securities Trust 2005-LDP4, Floating Rate Note, 10/15/42 5.04 10/15/2042 1,300,000 1,341,435
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3.5 03/01/2021 990,000 1,028,748
CommScope, Inc., 8.25%, 1/15/19 (144A) 8.25 01/15/2019 191,000 213,379
Republic of Ghana, 7.875%, 8/7/23 (144A) 7.875 08/07/2023 1,100,000 1,099,911
SUAM Finance BV, 4.875%, 4/17/24 (144A) 4.875 04/17/2024 500,000 510,479
HJ Heinz Co., 6/5/20 3.5 03/27/2020 397,000 399,555
Genpact International, Inc., 8/30/19 3.5 08/17/2019 322,442 323,248
Par Pharmaceutical Companies, Inc., 9/28/19 4.0 09/28/2019 886,107 885,553
The Quikrete Companies, Inc., 9/26/20 4.0 09/19/2020 278,600 278,861
ZIGGO BV, (USD) TLB3, 1/15/22   01/15/2022 587,872 579,911
Allison Transmission, Inc., 8/23/19 3.75 08/23/2019 560,286 561,420
Concho Resources, Inc., 5.5%, 4/1/23 5.5 04/01/2023 375,000 404,688
Hearthside Food Solutions LLC, 6/7/18 6.5001 05/07/2018 243,085 243,693
Turkiye Sise ve Cam Fabrikalari AS, 4.25%, 5/9/20 (144A) 4.25 05/09/2020 400,000 383,492
TI Group Automotive Systems LLC, 3/28/19 5.5 03/27/2019 127,735 128,493
Appvion, Inc., 6/28/19 5.75 06/04/2019 992,500 1,001,495
NEP, 1/22/20 4.25 01/22/2020 448,000 448,728
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 250,000 263,150
BWAY Holding Co., 8/6/17 4.5 08/06/2017 742,362 745,702
Cummins, Inc., 5.65%, 3/1/98 5.65   350,000 404,931
Fannie Mae, 0.5%, 12/15/33 (144A) 0.5 12/15/2033 1,000,000 1,101,667
Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A) 7.25 04/01/2019 1,960,000 1,970,957
New Residential Advance Receivables Trust Advance Receivables Backed 2014-VF1, 3.6491%, 3/15/45 3.6491 03/15/2045 1,000,000 1,001,781
Pacific Drilling SA, 6/3/18 4.5 05/20/2018 545,875 546,671
Wells Fargo & Co., 7.5%, 12/31/49 (Perpetual) 7.5   1,050 1,293,600
Neiman Marcus Group, Ltd. LLC, 10/25/20 4.25 10/25/2020 363,177 362,900
Brookfield Residential Properties, Inc., 6.125%, 7/1/22 (144A) 6.125 07/01/2022 280,000 296,246
Intelsat Jackson Holdings SA, 6.625%, 12/15/22 (144A) 6.625 12/15/2022 850,000 912,091
Polarpak, Inc., 6/7/20 4.5 06/07/2020 244,904 245,669
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 500,000 577,465
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 7.555 04/09/2015 750,000 773,400
Ship Midco, Ltd., 11/29/19 5.25 08/06/2017 98,939 99,805
BC Mountain LLC, 7.0%, 2/1/21 (144A) 7.0 02/01/2021 400,000 384,333
Halcon Resources Corp., 9.75%, 7/15/20 9.75 07/15/2020 1,050,000 1,188,425
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/15/49 5.7821 03/15/2049 300,000 313,705
Morgan Stanley, 4.1%, 5/22/23 4.1 05/22/2023 750,000 755,958
First Quantum Minerals, Ltd., 7.25%, 5/15/22 (144A) 7.25 05/15/2022 690,000 711,476
PetroQuest Energy, Inc., 10.0%, 9/1/17 10.0 09/01/2017 500,000 543,750
ViaSat, Inc., 6.875%, 6/15/20 6.875 06/15/2020 100,000 111,233
Seminole Hard Rock Entertainment, Inc., 5/14/20 3.5 04/29/2020 297,750 296,695
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 8.549 01/05/2017 1,000,000 1,069,686
JLL, Initial Dollar Term Loan, 1/23/21 4.25 01/23/2021 450,000 446,464
IAP Worldwide Services, Inc., 12/31/15 10.0 12/31/2015 110,049 31,914
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 500,000 538,156
Residential Reinsurance 2013, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 9.2956 06/06/2017 250,000 265,374
Regal Entertainment Group, 5.75%, 3/15/22 5.75 03/15/2022 675,000 705,563
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 11.0765 04/10/2015 650,000 685,645
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 5.273 12/11/2038 2,642,507 2,675,483
DTEK Finance Plc, 7.875%, 4/4/18 (144A) 7.875 04/04/2018 500,000 418,734
Cme: (Cdx.Na.Hy.22.V2) Usd 20jun19 Z91jjmp14 500.0 06/20/2019 0 -11,607,861
Gentiva Health Services, Inc., 11.5%, 9/1/18 11.5 09/01/2018 60,000 66,150
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 1,671,000 481,906
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 7.75 10/15/2021 1,050,000 1,107,648
Wells Fargo Commercial Mortgage Trust 2014-TISH, Floating Rate Note, 1/15/27 3.6511 01/15/2027 1,500,000 1,499,804
Spmf 5.74% 20mar42 14-3a 5.74 03/20/2042 446,679 498,134
WireCo WorldGroup, Inc., 9.5%, 5/15/17 9.5 05/15/2017 100,000 102,922
Athlon Holdings LP, 7.375%, 4/15/21 (144A) 7.375 04/15/2021 470,000 514,379
Endo Finance LLC, 5.75%, 1/15/22 (144A) 5.75 01/15/2022 375,000 394,078
Nuance Communications, Inc., 2.75%, 11/1/31 2.75 11/01/2031 700,000 704,229
Select Medical Corp., 6/1/18 3.7502 06/01/2018 21,259 21,246
Kronos, Inc., 10/30/19 4.5 10/02/2019 246,821 248,055
Regal Entertainment Group, 5.75%, 2/1/25 5.75 02/01/2025 470,000 479,008
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 11.5 02/15/2018 100,000 60,732
COMM 2012-CCRE4 Mortgage Trust, Floating Rate Note, 10/15/45 (144A) 4.5765 10/15/2045 303,000 294,153
Harland Clarke Holdings Corp., 8/17/19 6.0 08/17/2019 327,938 333,307
Sirius International Group, Ltd., Floating Rate Note, 12/31/49 (Perpetual) (144A) 7.506 05/29/2049 110,000 119,190
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 350,000 285,756
Ventas Realty LP, 4.75%, 6/1/21 4.75 06/01/2021 150,000 169,220
Drillships Financing Holding, Inc., 3/31/21 6.0 03/02/2021 992,500 996,594
CHS, 6.875%, 2/1/22 (144A) 6.875 02/01/2022 340,000 365,901
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 9.875 02/01/2020 300,000 334,625
Verint Systems, Inc., 9/6/19 3.5 09/06/2019 844,384 843,434
QR Energy LP, 9.25%, 8/1/20 9.25 08/01/2020 640,000 704,533
Mirror BidCo Corp., 12/18/19 4.25 12/18/2019 923,376 924,530
Crossmark Holdings, Inc., 12/20/19 4.5 01/31/2020 197,624 196,142
Transnet SOC, Ltd., 4.0%, 7/26/22 (144A) 4.0 07/26/2022 325,000 314,853
Aegis Toxicology Corp 1st Lien Tl-B L + 4.5% 20feb21 5.5 02/20/2021 225,000 227,531
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 6/25/33 5.438 06/25/2033 3,499,622 822,045
American Airlines, Inc., 6/27/19 3.75 06/21/2019 347,375 348,352
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 6.75 01/31/2021 200,000 212,850
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 8.5 10/15/2022 210,000 238,006
US Renal Care, Inc., 7/3/19 4.25 07/03/2019 647,373 649,599
World Kitchen LLC, 3/4/19 6.2907 02/13/2019 187,541 187,541
Virginia Resources Authority, 5.0%, 11/1/42 5.0 11/01/2042 1,000,000 1,115,787
Hologic, Inc., 2.0%, 3/1/42 (Step) 2.0 03/01/2042 1,350,000 1,495,125
IASIS Healthcare LLC, 5/3/18 4.5 05/03/2018 194,044 194,505
CNL Lifestyle Properties, Inc., 7.25%, 4/15/19 7.25 04/15/2019 600,000 632,558
Offshore Group Investment, Ltd., 3/28/19 5.75 03/28/2019 396,000 394,020
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 10.0456 06/06/2016 500,000 563,294
TOPRE_13-LTR, 3.47%, 11/20/28 (144A) 3.47 11/20/2028 1,750,000 1,265,452
Bankrate, Inc., 6.125%, 8/15/18 (144A) 6.125 08/15/2018 1,150,000 1,244,052
Delta Air Lines, Inc., 10/18/18 3.5 10/18/2018 172,813 172,689
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 6.75 07/15/2021 805,000 891,940
Garda World Security Corp., 11/8/20 4.0 11/08/2020 52,674 52,559
Schaeffler Holding Finance BV, 6.875%, 8/15/18 (144A) (PIK) 6.875 08/15/2018 520,000 559,776
Norcraft Companies LP, 11/12/20 5.25 11/12/2020 199,500 200,996
Surgical Care Affiliates LLC, 6/29/18 4.0 06/29/2018 545,875 545,015
AES Corp. Virginia, 5.5%, 3/15/24 5.5 03/15/2024 1,500,000 1,556,750
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/36 (144A) 0.32 11/25/2036 9,809,888 442,045
Xerium Technologies, Inc., 8.875%, 6/15/18 8.875 06/15/2018 798,000 880,532
Summit Midstream Holdings LLC, 7.5%, 7/1/21 7.5 07/01/2021 1,030,000 1,149,738
Molina Healthcare, Inc., 1.125%, 1/15/20 1.125 01/15/2020 1,100,000 1,366,613
Seven Seas Cruises S de RL LLC, 12/21/18 3.75 12/21/2018 465,362 465,653
Conseco Financial Corp., 6.18%, 4/1/30 6.18 04/01/2030 2,201,000 250,528
BioScrip, Inc., 7/31/20 6.5 07/22/2020 292,369 294,196
Ares Capital Corp., 4.375%, 1/15/19 (144A) 4.375 01/15/2019 1,170,000 1,267,581
Csfb Flt% 15aug38 05-C5-G 5.1 08/15/2038 1,400,000 1,281,696
Tronox Finance LLC, 6.375%, 8/15/20 6.375 08/15/2020 1,270,000 1,341,464
Pangaea Re, 0.0%, 10/1/15 (Cat Bond) 0.0 10/01/2015 500,000 561,550
Waupaca Foundry, Inc., 6/29/17 4.0 06/29/2017 606,739 607,497
Rovi Solutions Corp., 3/29/19 3.5 03/29/2019 308,080 307,117
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 6.8855 04/07/2017 1,500,000 1,573,390
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 5.214 02/11/2041 100,000 101,468
AgStar Financial Services ACA, Floating Rate Note, 12/31/49 (Perpetual) (144A) 6.75   1,500 1,528,031
Schaeffler 1st Lien Tl-E L + 3% 15may20   05/15/2020 475,000 478,011
Altrl Flt% 30jun16   06/30/2016 4,000,000 4,116,800
First Data Corp., 3/23/18 4.15 03/24/2018 500,000 501,561
DynCorp International, Inc., 7/7/16 6.25 07/07/2016 92,160 92,544
Cepheid, Inc., 1.25%, 2/1/21 (144A) 1.25 02/01/2021 545,000 563,110
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 250,000 247,348
Offshore Group Investment, Ltd., 7.5%, 11/1/19 7.5 11/01/2019 600,000 633,750
Masco Corp., 7.125%, 3/15/20 7.125 03/15/2020 135,000 159,981
Westgate Resorts 2012-2 LLC, 9.0%, 1/20/25 (144A) 9.0 01/20/2025 750,000 360,052
Oasis Petroleum, Inc., 6.875%, 3/15/22 (144A) 6.875 03/15/2022 500,000 551,007
DFC Global Corp., 3.25%, 4/15/17 3.25 04/15/2017 815,000 803,103
Loma Reinsurance, Ltd. Bermuda, Floating Rate Note, 1/8/18 (Cat Bond) (144A) 9.7804 01/08/2018 500,000 520,277
WCA Waste Corp., 3/23/18 4.0 03/23/2018 697,797 698,778
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 7.375 02/01/2020 300,000 326,875
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A)   04/30/2018 900,000 904,289
Copano Energy LLC, 7.125%, 4/1/21 7.125 04/01/2021 373,000 427,006
Aircastle, Ltd., 6.25%, 12/1/19 6.25 12/01/2019 200,000 222,715
Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 6.625 04/07/2021 500,000 581,613
PQ Corp., 8/7/17 4.0 08/07/2017 691,250 694,059
Marfrig Holding Europe BV, 8.375%, 5/9/18 (144A) 8.375 05/09/2018 200,000 212,024
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 100,000 176,581
Bayview Commercial Asset Trust, Floating Rate Note, 8/25/35 (144A) 0.46 08/25/2035 1,400,000 328,406
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 400,000 453,800
Milacron LLC, 3/28/20 4.0 03/12/2020 986,323 988,789
Allegion US Holding Co, Inc., 5.75%, 10/1/21 (144A) 5.75 10/01/2021 930,000 992,388
Morgan Stanley, Floating Rate Note, 12/31/49 (Perpetual) 7.125   18,000 503,820
ATKORE INTERNATIONAL INC, Term Loan (First Lien), 3/27/21   03/27/2021 900,000 901,500
Emergent Biosolutions, Inc., 2.875%, 1/15/21 (144A) 2.875 01/15/2021 1,470,000 1,539,447
Jun14 Vix C @ 15   06/18/2014 450 19,125
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 10.875 01/26/2021 100,000 96,996
EV Energy Partners LP, 8.0%, 4/15/19 8.0 04/15/2019 1,150,000 1,213,506
AXIS Equipment Finance Receivables II LLC, 6.41%, 10/22/18 6.41 10/22/2018 250,000 253,161
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 8.75 09/24/2073 1,190,000 1,411,679
Windstream Corp., 1/23/20 3.5 01/08/2020 197,995 197,562
West Corp., 6/30/18 3.25 06/30/2018 416,842 413,195
Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 12/25/35 5.5 12/25/2035 5,000,000 1,433,475
RTI International Metals, Inc., 1.625%, 10/15/19 1.625 10/15/2019 385,000 382,190
Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A) 5.625 03/30/2043 750,000 840,083
NEXEO SOLUTIONS LLC, Term B-3 Loan, 9/9/17 5.0 09/09/2017 748,125 750,930
Fly Funding II Sarl, 8/8/18 4.5 08/09/2018 744,200 749,472
Inkia Energy, Ltd., 8.375%, 4/4/21 (144A) 8.375 04/04/2021 100,000 112,576
Ziggo Bv 1st Lien Tl-B2 L + 2.75% 15jan22 3.5 01/15/2022 357,447 352,606
JAZZ PHARMACEUTICALS INC, Tranche 2 Term Loan, 6/12/18 3.25 06/12/2018 339,756 339,916
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 5.625 12/15/2016 200,000 208,438
Virgin Media Secured Finance Plc, 5.375%, 4/15/21 (144A) 5.375 04/15/2021 500,000 517,809
TurboCombustor Technology, Inc., 10/18/20 5.5 10/18/2020 548,625 553,083
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 5.1511 03/15/2018 1,300,000 1,305,966
Micron Technology, Inc., 5.875%, 2/15/22 (144A) 5.875 02/15/2022 750,000 814,211
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 11.779 11/10/2016 500,000 535,493
VOLT XX LLC, 5.25%, 2/1/39 (Step) (144A) 5.25 02/01/2039 1,500,000 1,501,555
Banco de Bogota SA, 5.375%, 2/19/23 (144A) 5.375 02/19/2023 500,000 522,615
VOLT XXII LLC, 4.75%, 10/27/53 (Step) 4.75 10/27/2053 2,500,000 2,491,876
Metaldyne LLC, 12/18/18 4.25 12/18/2018 586,362 588,268
Gates Investments LLC, 9/29/16 3.75 09/29/2016 464,781 465,766
Citicorp Residential Mortgage Trust Series 2006-1, 5.836%, 7/25/36 (Step) 5.836 07/25/2036 100,000 42,276
Kane-Pi4 Zero% 18jul16 0.0 07/18/2016 1,505,000 1,550,602
Ferrexpo Finance Plc, 7.875%, 4/7/16 (144A) 7.875 04/07/2016 500,000 494,656
Fn 30 Yr Pool 4% #Au6881 01sep43 4.0 09/01/2043 528,373 537,324
CNO Financial Group, Inc., 6.375%, 10/1/20 (144A) 6.375 10/01/2020 650,000 712,156
Onglt 4.87% 10mar27 12-Aa-B 4.87 03/10/2027 600,000 351,273
BlueScope Steel Finance, Ltd., 7.125%, 5/1/18 (144A) 7.125 05/01/2018 730,000 787,259
Kinetic Concepts, Inc., 5/4/18 4.0 05/04/2018 394,156 395,000
Calpine Construction Finance Co LP, 5/3/20 3.0 05/01/2020 530,988 521,917
MSO of Puerto Rico, Inc., 12/12/17 9.75 12/12/2017 25,385 25,607
Federal Home Loan Mortgage Corp., Floating Rate Note, 5/25/45 (144A) 4.0364 05/25/2045 175,000 174,428
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,342,000 1,341,329
Prestige Brands, Inc., 1/31/19 3.75 01/31/2019 312,878 313,660
Lehman Brothers Small Balance Commercial Mortgage Trust 2006-3, Floating Rate Note, 12/25/36 (144A) 0.35 12/25/2036 1,895,356 425,719
Cequel Communications LLC, 2/14/19 3.5 01/31/2019 384,223 384,559
Multi Packaging Solutions, Inc., 9/30/20 4.25 09/30/2020 250,000 250,521
Validus Holdings, Ltd., 8.875%, 1/26/40 8.875 01/26/2040 200,000 295,649
American Home Mortgage Investment Trust 2005-1, Floating Rate Note, 6/25/45 2.323 06/25/2045 750,000 78,921
Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A) 8.5 05/15/2020 700,000 824,756
CarNow Auto Receivables Trust 2012-1, 6.9%, 11/15/16 (144A) 6.9 11/15/2016 100,000 100,811
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 500,000 555,000
Citicorp Residential Mortgage Trust Series 2006-1, 5.939%, 7/25/36 (Step) 5.939 07/25/2036 125,000 92,763
Garda World Security Corp., 11/1/20 4.0 11/01/2020 205,908 205,458
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 9.5 05/04/2020 100,000 108,286
SandRidge Energy, Inc., 7.5%, 2/15/23 7.5 02/15/2023 700,000 760,958
Signode Industrial Group Us Inc 1st Lien Tl-B L + 3% 21mar21 4.0 03/21/2021 1,069,000 1,067,831
Sequa Corp., 6/19/17 5.25 05/29/2017 740,625 734,299
GCI, Inc., 8.625%, 11/15/19 8.625 11/15/2019 458,000 489,526
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 5.5 05/20/2021 1,360,000 1,379,150
International Equipment Solutions LLC, 8/16/19 6.75 07/25/2019 678,302 682,965
Ozburn-Hessey Holding Co LLC, 5/23/19 6.7525 05/07/2019 173,688 174,230
Ibis Re II, Ltd., Floating Rate Note, 6/28/16 (Cat Bond) (144A) 4.0203 06/28/2016 750,000 757,525
Flextronics International, Ltd., 5.0%, 2/15/23 5.0 02/15/2023 145,000 149,672
CST Brands, Inc., 5.0%, 5/1/23 5.0 05/01/2023 1,325,000 1,327,208
Longpoint Re, Ltd. III, Floating Rate Note, 5/18/16 (Cat Bond) (144A) 4.0253 05/18/2016 500,000 504,017
Nordea Bank AB, 4.25%, 9/21/22 (144A) 4.25 09/21/2022 250,000 260,947
Nara Cable Funding II, Ltd., 8.5%, 3/1/20 (144A) 8.5 03/01/2020 100,000 166,020
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 5.25 02/01/2021 865,000 865,000
Arc Automotive Group, Inc., 11/15/18 6.0 11/01/2018 528,516 533,140
Generac Power Systems, Inc., 5/31/20 3.25 05/22/2019 707,400 704,305
Delta Air Lines 2010-2 Class B Pass Through Trust, 6.75%, 11/23/15 (144A) 6.75 11/23/2015 900,000 966,600
JinkoSolar Holding Co, Ltd., 4.0%, 5/15/16 (144A) 4.0 05/15/2016 50,000 53,120
Residential Reinsurance 2013, Ltd., Floating Rate Note, 12/6/17 (Cat Bond) (144A) 20.0456 12/06/2017 250,000 263,044
US Bancorp, Floating Rate Note, 12/31/49 (Perpetual) 6.0   16,400 458,872
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 5.1 08/15/2038 1,150,000 1,177,861
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 525,000 551,801
International Automotive Components Group SA, 9.125%, 6/1/18 (144A) 9.125 06/01/2018 400,000 443,250
Transportadora de Gas del Peru SA, 4.25%, 4/30/28 (144A) 4.25 04/30/2028 300,000 285,313
Delta Air Lines 2010-1 Class B Pass Through Trust, 6.375%, 1/2/16 (144A) 6.375 01/02/2016 400,000 439,054
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 705,000 739,663
CWGS Group LLC, 2/20/20 5.75 02/20/2020 1,440,938 1,444,540
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 6.5 04/15/2021 190,000 191,578
Belden, Inc., 5.5%, 9/1/22 (144A) 5.5 09/01/2022 1,860,000 1,908,825
BioMarin Pharmaceutical, Inc., 0.75%, 10/15/18 0.75 10/15/2018 200,000 202,317
BM&FBovespa SA, 5.5%, 7/16/20 (144A) 5.5 07/16/2020 900,000 988,175
NorthStar 2013-1, Floating Rate Note, 8/25/29 (144A) 5.15 08/25/2029 1,500,000 1,497,887
Ocwen Loan Servicing LLC, 2/15/18 5.0 01/15/2018 768,491 773,654
Prudential Financial, Inc., Floating Rate Note, 9/15/42 5.875 09/15/2042 400,000 431,961
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 75,000 86,425
Syniverse Holdings, Inc., 4/23/19 4.0 04/23/2019 484,761 485,518
Gray Television, Inc., 10/12/19 4.5 10/11/2019 275,000 275,859
Ziggo Bv 1st Lien Tl-B1 L + 2.75% 15jan22   01/15/2022 554,681 547,169
Blackstone Holdings Finance Co LLC, 4.75%, 2/15/23 (144A) 4.75 02/15/2023 250,000 278,569
Magnesita Finance, Ltd., 8.625%, 12/31/49 (Perpetual) (144A) 8.625 04/29/2049 450,000 444,225
Instituto Costarricense de Electricidad, 6.375%, 5/15/43 (144A) 6.375 05/15/2043 1,000,000 879,906
FCI - FIDJI LUXEMBOURG BC4 SARL, Term Loan, 12/19/20 6.25 12/19/2020 420,000 423,413
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 5.7956 12/06/2016 250,000 263,334
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 6.375 04/01/2021 500,000 541,563
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 208,000 188,484
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 500,000 534,339
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 485,000 521,638
Big Heart Pet Brands, 2/24/20 3.5 02/24/2020 316,303 314,177
Fieldwood Energy LLC, 9/30/20 8.375 09/30/2020 1,518,000 1,568,436
Maine Health & Higher Educational Facilities Authority, 5.0%, 7/1/43 5.0 07/01/2043 1,000,000 1,100,313
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 1,200,000 1,293,500
Mustang Parent Corp., 9/30/20 4.25 09/30/2020 200,000 200,563
Wells Fargo & Co., Floating Rate Note, 12/31/49 (Perpetual) 7.98 03/29/2049 400,000 462,239
City of Charlotte North Carolina, 5.6%, 7/1/27 5.6 07/01/2027 1,250,000 1,282,567
JPMorgan Chase & Co., Floating Rate Note, 12/31/49 (Perpetual) 5.15 12/29/2049 1,525,000 1,462,920
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 570,000 609,298
A10 Securitization 2013-1 LLC, 4.7%, 11/15/25 (144A) 4.7 11/15/2025 350,000 349,645
NSG Holdings LLC, 12/11/19 3.75 11/15/2019 223,348 224,185
MetLife, Inc., 6.4%, 12/15/66 6.4 12/15/2036 300,000 343,518
CHS, 1/27/21 4.25 01/27/2021 347,233 349,620
Gentiva Health Services, Inc., 10/10/19 6.5 10/10/2019 1,121,875 1,125,148
Jks 4% 01feb19 144a 4.0 02/01/2019 1,400,000 1,358,420
Telesat Canada, 3/28/19 3.5 03/28/2019 609,196 609,425
B&G Foods, Inc., 4.625%, 6/1/21 4.625 06/01/2021 400,000 407,250
NeuStar, Inc., 4.5%, 1/15/23 4.5 01/15/2023 675,000 618,975
NCR Corp., 5.0%, 7/15/22 5.0 07/15/2022 185,000 189,419
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 700,000 690,083
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 6.375 09/01/2024 1,500,000 1,662,203
Gannett Co, Inc., 6.375%, 10/15/23 (144A) 6.375 10/15/2023 1,620,000 1,742,546
RAMP Series 2004-RZ1 Trust, 4.82%, 3/25/34 (Step) 4.82 03/25/2034 3,164,644 1,067,340
CommScope, Inc., 1/21/17 2.7333 01/21/2017 105,530 105,596
The Hillman Companies, Inc., 5/28/17 3.75 05/31/2016 220,995 221,363
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 7.0 05/15/2022 210,000 234,803
ML-CFC Commercial Mortgage Trust 2006-3, Floating Rate Note, 7/12/46 5.485 07/12/2046 1,400,000 1,442,523
Bosphorus 1 Re, Ltd., Floating Rate Note, 5/3/16 (Cat Bond) (144A) 2.5456 05/03/2016 250,000 250,710
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/47 (Step) 6.407 08/28/2047 1,288,834 103,810
Intelsat Jackson Holdings SA, 6/30/19 3.75 06/30/2019 289,851 290,636
Vita Capital V, Ltd., Floating Rate Note, 1/15/17 (Cat Bond) (144A) 2.722 01/15/2017 250,000 255,125
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 430,000 480,883
ConvaTec, Inc., 12/22/16 4.0 12/01/2016 92,917 93,178
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.555 04/09/2015 1,000,000 1,038,300
CenturyLink, Inc., 7.65%, 3/15/42 7.65 03/15/2042 800,000 815,920
Cubist Pharmaceuticals, Inc., 1.875%, 9/1/20 (144A) 1.875 09/01/2020 750,000 843,984
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 7.25 04/03/2024 2,600,000 2,740,869
Ocn 6.625% 15may19 144a 6.625 05/15/2019 1,450,000 1,473,195
Avago Technologies Ltd 1st Lien Tl-B L + 3% 16apr21   04/16/2021 300,000 301,313
Credit Suisse First Boston Mortgage Securities Corp., 4.898%, 3/15/36 (144A) 4.898 03/15/2036 1,000,000 348,265
Bright Horizons Family Solutions, Inc., 1/30/20 3.75 01/14/2020 493,750 495,061
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 6.75 04/01/2020 445,000 475,594
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 1,190,000 1,292,885
Numericable Group SA, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 500,000 520,667
Kleopatra Acquisition Corp., 12/21/16 4.75 12/14/2016 182,407 183,851
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 6.75 08/29/2049 1,835,000 2,026,184
Constellation Brands, Inc., 4.25%, 5/1/23 4.25 05/01/2023 485,000 485,505
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 490,000 540,152
Rosetta Resources, Inc., 5.625%, 5/1/21 5.625 05/01/2021 515,000 531,577
Mid-State Capital Trust 2010-1, 7.0%, 12/15/45 (144A) 7.0 12/15/2045 25,000 20,506
Univision Communications, Inc., 5.125%, 5/15/23 (144A) 5.125 05/15/2023 750,000 772,333
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 10.625 02/01/2016 475,000 451,448
Pacific Drilling SA, 5.375%, 6/1/20 (144A) 5.375 06/01/2020 450,000 453,094
Wynn Las Vegas LLC, 4.25%, 5/30/23 (144A) 4.25 05/30/2023 205,000 203,719
Epiq Systems, Inc., 8/27/20 4.25 08/26/2020 597,000 598,493
Spirit AeroSystems, Inc., 5.25%, 3/15/22 (144A) 5.25 03/15/2022 1,050,000 1,079,553
ExGen Renewables I LLC, 2/5/21 5.25 02/05/2021 1,140,409 1,163,217
State of Washington, 5.0%, 6/1/41 5.0 06/01/2041 1,000,000 1,126,580
Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A) 0.0234 05/23/2016 1,000,000 1,007,950
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6.875 11/01/2019 400,000 369,292
Bayview Commercial Asset Trust, Floating Rate Note, 4/25/34 (144A) 1.35 04/25/2034 4,900,000 516,937
Sirius XM Radio, Inc., 5.25%, 8/15/22 (144A) 5.25 08/15/2022 200,000 219,092
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 100,000 110,908
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 620,000 646,298
NRG Energy, Inc., 6.25%, 5/1/24 (144A) 6.25 05/01/2024 575,000 599,118
Armacell International GmbH, 7/2/20 5.5 06/27/2020 498,750 499,373
Chrysler Group LLC, 12/29/18 3.25 12/29/2018 2,025,000 2,015,237
Kindred Healthcare 1st Lien Tl-B L + 3% 10apr21 4.0 04/10/2021 492,513 493,128
Molycorp, Inc., 10.0%, 6/1/20 10.0 06/01/2020 50,000 47,375
HHI Holdings LLC, 10/5/18 5.0 10/05/2018 396,241 398,222
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 4.402 10/13/2028 1,400,000 1,405,050
Marfrig Holding Europe BV, 11.25%, 9/20/21 (144A) 11.25 09/20/2021 700,000 822,281
Approach Resources, Inc., 7.0%, 6/15/21 7.0 06/15/2021 2,020,000 2,133,176
COMM 2012-CCRE2 Mortgage Trust, Floating Rate Note, 8/15/45 (144A) 4.8577 08/15/2045 100,000 98,902
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/25/59 (144A) 5.3 12/25/2059 200,000 207,850
Grede Holdings Llc 1st Lien Tl-B L + 3.75% 21may21   05/21/2021 1,215,000 1,217,661
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 250,000 194,185
Linn Energy LLC, 7.0%, 11/1/19 (144A) 7.25 11/01/2019 900,000 950,438
Continental Airlines 2001-1 Class B Pass Through Trust, 7.373%, 12/15/15 7.373 12/15/2015 250,000 55,412
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 5.2654 01/25/2035 1,100,000 162,241
QBE Insurance Group, Ltd., 2.4%, 5/1/18 (144A) 2.4 05/01/2018 200,000 198,060
Floatel 1st Lien Tl-B L + 5% 22may20   05/22/2020 1,125,000 1,128,516
Immucor, Inc., 8/19/18 5.0 08/19/2018 444,870 445,982
WireCo WorldGroup, Inc., 2/15/17 6.0 04/13/2017 48,784 49,180
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 7.4253 01/09/2017 1,000,000 1,033,489
Apex Tool Group LLC, 1/31/20 4.5 02/01/2020 643,872 630,592
Equinix, Inc., 7.0%, 7/15/21 7.0 07/15/2021 50,000 56,947
Kane-Pi4 Flt% 07jul16   07/07/2016 1,503,871 1,499,811
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 8.0456 06/06/2016 250,000 276,953
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 27,750 752,580
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 5.658 03/15/2045 304,000 313,556
The Bank of New York Mellon Corp., Floating Rate Note, 12/31/49 (Perpetual) 4.5 12/29/2049 1,250,000 1,175,781
LKQ Corp., 4.75%, 5/15/23 4.75 05/15/2023 250,000 244,903
Urbi Desarrollos Urbanos SAB de CV, 0.0%, 1/21/20 (144A) 0.0 01/21/2020 200,000 48,058
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 5.9 12/31/2049 1,300,000 1,329,084
Foundation Re III, Ltd., Floating Rate Note, 2/25/15 (Cat Bond) (144A) 5.0203 02/25/2015 350,000 353,261
Hilton USA Trust 2013-HLF, Floating Rate Note, 11/5/30 (144A) 2.9005 11/05/2030 1,900,000 1,907,576
Taminco Global Chemical Corp., 2/15/19 3.25 02/15/2019 343,778 342,145
Jun14 Vix C @ 13   06/18/2014 450 40,500
Syniverse Holdings, Inc., 4/23/19 4.0 04/10/2019 239,957 240,182
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 5.1585 07/10/2045 350,000 357,475
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 800,000 208,474
SAFENET, INC., Term Loan (First Lien), 2/28/20 5.5 02/28/2020 937,000 941,685
Voya Financial, Inc., Floating Rate Note, 5/15/53 5.65 05/15/2053 615,000 625,001
Alkermes, Inc., 9/25/19 3.5 09/25/2019 693,222 692,933
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 6.0063 02/15/2051 1,725,000 1,785,809
Cenveo Corp., 2/13/17 6.25 04/04/2020 121,556 122,315
WFRBS Commercial Mortgage Trust 2011-C4, Floating Rate Note, 6/15/44 (144A) 5.2473 06/15/2044 50,000 53,746
Bombardier, Inc., 6.0%, 10/15/22 (144A) 6.0 10/15/2022 1,950,000 2,002,975
Houghton Mifflin Harcourt Publishing Co., 5/22/18 4.25 05/22/2018 147,000 147,919
BRF SA, 3.95%, 5/22/23 (144A) 3.95 05/22/2023 250,000 236,469
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 9.25 06/01/2020 1,000,000 1,138,750
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 7.125   63,000 1,742,580
Key Energy Services, Inc., 6.75%, 3/1/21 6.75 03/01/2021 585,000 621,197
WebMD Health Corp., 1.5%, 12/1/20 (144A) 1.5 12/01/2020 1,300,000 1,368,521
Advanced Micro Devices, Inc., 6.75%, 3/1/19 (144A) 6.75 03/01/2019 1,095,000 1,174,730
NovaStar Mortgage Funding Trust Series 2003-1, Floating Rate Note, 5/25/33 0.91 05/25/2033 10,571,000 299,439
Grays Harbor County Public Utility District No 1, 5.0%, 7/1/43 5.0 07/01/2043 1,000,000 1,099,037
ARD Finance SA, 11.125%, 6/1/18 (144A) (PIK) 11.125 06/01/2018 131,581 148,111
Banc of America Mortgage Trust 2004-2, 5.5%, 3/25/34 5.5 03/25/2034 212,565 82,097
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 7.5043 03/01/2022 200,000 211,752
Morgan Stanley Capital I, Inc., Floating Rate Note, 7/15/32 (144A) 7.2494 07/15/2032 105,000 22,761
MASTR Adjustable Rate Mortgages Trust 2003-6, Floating Rate Note, 12/25/33 2.3505 12/25/2033 30,000,000 586,679
Generic Drug Holdings, Inc., 8/16/20 5.0 10/04/2019 892,584 898,024
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 5.25 04/25/2032 509,814 138,477
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 8.805 06/06/2015 600,000 640,382
Mueller Water Products, Inc., 7.375%, 6/1/17 7.375 06/01/2017 400,000 420,750
Virgin Media Investment Holdings, Ltd., 6/8/20 3.5 02/06/2020 790,000 784,692
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,025,000 1,050,682
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 6.0 07/25/2034 500,000 106,167
GRIFOLS WORLDWIDE OPERATIONS USA INC, U.S. Tranche B Term Loam, 4/1/21   04/01/2021 100,000 99,711
Altair Re, Floating Rate Note, 4/30/16 (Cat Bond) 0.0 04/30/2016 168,360 206,712
RegionalCare Hospital Partners, Inc., 4/21/19 6.0 04/21/2019 346,629 345,546
Navistar, Inc., 8/17/17 5.75 07/31/2017 120,000 122,138
MasTec, Inc., 4.875%, 3/15/23 4.875 03/15/2023 150,000 145,919
Northern Oil and Gas, Inc., 8.0%, 6/1/20 8.0 06/01/2020 880,000 970,200
Amkor Technology, Inc., 6.375%, 10/1/22 6.375 10/01/2022 285,000 305,128
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 5.75 12/15/2018 680,000 735,755
Sri Lanka Government International Bond, 6.0%, 1/14/19 (144A) 6.0 01/14/2019 750,000 811,063
Guggenheim Partners Investment Management Holdings LLC, 7/22/20 4.25 07/09/2020 447,750 450,129
Progreso Receivables Funding I LLC, 4.0%, 7/9/18 (144A) 4.0 07/09/2018 1,250,000 1,257,882
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 928,000 1,039,360
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 10.2601 01/08/2015 250,000 259,421
Dynegy, Inc., 4/23/20 4.0 04/16/2020 305,385 306,203
Axiall Corp., 4.875%, 5/15/23 (144A) 4.875 05/15/2023 500,000 497,333
Ardagh Packaging Finance Plc, 7.375%, 10/15/17 (144A) 7.375 10/15/2017 150,000 216,828
WF-RBS Commercial Mortgage Trust 2011-C2, Floating Rate Note, 2/15/44 (144A) 5.4655 02/15/2044 100,000 106,330
Unit Corp., 6.625%, 5/15/21 6.625 05/15/2021 550,000 587,369
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 2.25 05/15/2041 1,480,000 1,395,455
Lam Research Corp., 1.25%, 5/15/18 1.25 05/15/2018 1,025,000 1,363,179
Avis Budget Finance Plc, 6.0%, 3/1/21 (144A) 6.0 03/01/2021 150,000 221,440
Lennar Corp., 4.5%, 6/15/19 4.5 06/15/2019 1,175,000 1,208,634
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 5.85 05/21/2043 1,550,000 1,467,269
Tal 3.97% 20may39 14-2a-B 3.97 05/20/2039 1,000,000 1,008,048
COMM 2006-C8 Mortgage Trust, 5.377%, 12/10/46 5.377 12/10/2046 2,000,000 2,044,716
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/4/16 (Cat Bond) (144A) 6.6492 08/04/2014 250,000 252,554
Brocade Communications Systems, Inc., 4.625%, 1/15/23 4.625 01/15/2023 915,000 887,525
SBP HOLDINGS, Ltd., Term Loan (First Lien), 3/24/21 5.0 03/24/2021 450,000 449,812
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 800,000 897,000
CoBank ACB, Floating Rate Note, 12/31/49 (Perpetual) (144A) 6.25   5,000 518,594
Massachusetts Development Finance Agency, 5.25%, 4/1/37 5.25 04/01/2037 100,000 110,790
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 540,000 579,240
KB Home, 8.0%, 3/15/20 8.0 03/15/2020 200,000 231,378
MGM Resorts International, 6.75%, 10/1/20 6.75 10/01/2020 250,000 280,000
Sierra Timeshare 2011-3 Receivables Funding LLC, 9.31%, 7/20/28 (144A) 9.31 07/20/2028 750,000 272,828
Monitronics International, Inc., 3/23/18 4.25 03/23/2018 559,936 561,220
JP Morgan Mortgage Trust 2005-A7, Floating Rate Note, 10/25/35 2.6316 10/25/2035 2,900,000 161,590
LB-UBS Commercial Mortgage Trust 2006-C1, Floating Rate Note, 2/15/41 5.276 02/15/2041 1,963,990 2,019,876
Marfrig Holding Europe BV, 9.875%, 7/24/17 (144A) 9.875 07/24/2017 200,000 227,967
Del Monte Foods, Inc., 5/26/21 8.25 05/26/2021 590,000 584,838
Corporate Office Properties LP, 3.6%, 5/15/23 3.6 05/15/2023 225,000 216,068
State Street Corp., Floating Rate Note, 12/31/73 5.9 12/31/2073 29,300 765,609
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 6.5 05/15/2021 425,000 459,165
Kindred Healthcare, Inc., 6.375%, 4/15/22 (144A) 6.375 04/15/2022 400,000 410,183
US Finco LLC, 5/30/20 4.0 05/29/2020 496,250 495,940
Reliance Steel & Aluminum Co., 4.5%, 4/15/23 4.5 04/15/2023 490,000 504,872
Glenn Pool Oil & Gas Trust, 5/2/16 4.5 06/01/2016 39,981 40,281
Gmsl Flt% 25apr32 05-A-B2 5.25 04/25/2032 2,500,000 802,251
Altisource Solutions Sarl, 12/9/20 4.5 12/09/2020 642,518 644,526
Tank Holding Corp., 7/9/19 4.25 06/08/2019 717,696 717,995
Mythen Re, Ltd. Series 2013-1 Class B, Floating Rate Note, 7/9/15 (Cat Bond) (144A) 8.0253 07/09/2015 250,000 258,539
The Goldman Sachs Group, Inc., 6.45%, 5/1/36 6.45 05/01/2036 300,000 346,722
Jarden Corp., 1.125%, 3/15/34 (144A) 1.125 03/15/2034 1,290,000 1,292,983
Murray Energy Corp., 8.625%, 6/15/21 (144A) 8.625 06/15/2021 650,000 734,351
Icon Brands Holdings LLC, 4.352%, 1/25/43 (144A) 4.352 01/25/2043 100,000 95,514
Albertsons LLC, 3/21/19 4.75 03/21/2019 896,495 901,721
Countrywide Asset-Backed Certificates, Floating Rate Note, 10/25/35 4.456 10/25/2035 360,000 24,210
Sprint Corp., 7.125%, 6/15/24 (144A) 7.125 06/15/2024 1,725,000 1,916,385
Duff & Phelps LLC, 4/23/20 4.5 03/14/2020 625,277 628,013
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 9.0304 03/12/2015 250,000 260,275
Chemtura Corp., 5.75%, 7/15/21 5.75 07/15/2021 930,000 979,264
Ukraine Government International Bond, 7.5%, 4/17/23 (144A) 7.5 04/17/2023 200,000 185,792
Telenet Finance III Luxembourg SCA, 6.625%, 2/15/21 (144A) 6.625 02/15/2021 200,000 297,809
Banc of America Merrill Lynch Commercial Mortgage, Inc., Floating Rate Note, 9/10/47 (144A) 6.129 09/10/2047 160,000 146,622
MDC Holdings, Inc., 5.5%, 1/15/24 5.5 01/15/2024 1,150,000 1,206,833
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.055 06/06/2015 1,250,000 1,330,000
MacDermid, Inc., 6/7/20 4.0 06/06/2020 843,625 844,328
Sector Re V, Ltd., 0.0%, 3/1/18 (Cat Bond) (144A) 0.0 03/01/2018 272 76,273
Accudyne Industries Borrower SCA, 12/13/19 4.0 12/13/2019 726,165 726,997
Stx 4.75% 01jan25 144a 4.75 01/01/2025 1,100,000 1,093,560
Emulex Corp., 1.75%, 11/15/18 (144A) 1.75 11/15/2018 765,000 693,398
RKI Exploration & Production LLC, 8.5%, 8/1/21 (144A) 8.5 08/01/2021 1,345,000 1,497,433
Windstream Corp., 8.125%, 9/1/18 8.125 09/01/2018 850,000 911,891
Verizon Communications, Inc., 6.55%, 9/15/43 6.55 09/15/2043 1,030,000 1,321,610
Frontier Communications Corp., 7.625%, 4/15/24 7.625 04/15/2024 250,000 262,436
Belden, Inc., 5.5%, 4/15/23 (144A) 5.5 04/15/2023 300,000 428,330
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 8.25 01/15/2021 1,050,000 1,122,100
Vedanta Resources Plc, 6.0%, 1/31/19 (144A) 6.0 01/31/2019 650,000 691,221
Firstar Realty LLC, 8.875%, 12/31/49 (Perpetual) (144A) 8.875   400 496,250
DigitalGlobe, Inc., 1/31/20 3.75 01/25/2020 697,704 699,557
Morgan Stanley Capital I Trust 2007-TOP25, Floating Rate Note, 11/12/49 5.574 11/12/2049 1,500,000 1,553,073
COMM 2007-FL14 Mortgage Trust, Floating Rate Note, 6/15/22 (144A) 0.3311 06/15/2022 160,000 35,793
Flextronics International, Ltd., 4.625%, 2/15/20 4.625 02/15/2020 85,000 88,070
The Williams Companies, Inc., 7.75%, 6/15/31 7.75 06/15/2031 100,000 122,403
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 10.5 12/15/2018 100,000 114,092
Fn 30 Yr Pool 4% #As2496 01may44 4.0 05/01/2044 4,304,445 4,577,339
Jones Energy Holdings LLC, 6.75%, 4/1/22 (144A) 6.75 04/01/2022 400,000 426,500
Fannie Mae, 4.5%, 8/1/40 4.5 08/01/2040 3,070,237 1,613,935
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 300,000 306,298
Envision Healthcare Corp., 5/25/18 4.0 04/05/2018 296,191 296,654
Rexel SA, 5.25%, 6/15/20 (144A) 5.25 06/15/2020 600,000 644,525
Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A) 8.75 12/15/2019 275,000 317,033
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 5.375 11/15/2021 200,000 205,478
Bear Stearns Commercial Mortgage Securities Trust 2007-PWR16, Floating Rate Note, 6/11/40 5.707 06/11/2040 2,000,000 2,083,579
CCO Holdings LLC, 6.5%, 4/30/21 6.5 04/30/2021 100,000 107,292
BioMarin Pharmaceutical, Inc., 1.5%, 10/15/20 1.5 10/15/2020 200,000 205,758
FREMF Mortgage Trust 2012-K708, Floating Rate Note, 2/25/45 (144A) 3.7586 02/25/2045 200,000 203,583
Advanced Micro Devices, Inc., 7.5%, 8/15/22 7.5 08/15/2022 445,000 478,190
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 425,000 462,418
General Motors Financial Co, Inc., 4.25%, 5/15/23 4.25 05/15/2023 125,000 124,142
CCO Holdings LLC, 5.75%, 9/1/23 5.75 09/01/2023 475,000 496,078
WellPoint, Inc., 2.75%, 10/15/42 2.75 10/15/2042 300,000 466,804
WMG Acquisition Corp., 6.0%, 1/15/21 (144A) 6.0 01/15/2021 171,000 180,861
Hologic, Inc., 8/1/19 3.25 08/01/2019 338,831 338,910
Structured Asset Mortgage Investments Trust 2003-AR1, Floating Rate Note, 10/19/33 1.651 10/19/2033 3,319,800 121,253
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 5.623 05/12/2045 1,400,000 1,434,535
A10 Securitization 2013-1 LLC, 6.41%, 11/15/25 (144A) 6.41 11/15/2025 139,000 138,977
Hercules Offshore, Inc., 8.75%, 7/15/21 (144A) 8.75 07/15/2021 905,000 998,265
Six Flags Theme Parks, Inc., 12/20/18 3.5019 11/23/2018 248,116 248,581
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 8.955 12/06/2015 250,000 265,640
Fannie Mae, 4.5%, 9/1/39 4.5 09/01/2039 2,945,000 1,437,985
STORE Master Funding LLC, 4.16%, 3/20/43 (144A) 4.16 03/20/2043 200,000 200,886
Alliant Holdings I, Inc., 12/20/19 4.25 12/07/2019 492,808 493,880
RCMC LLC, 5.62346%, 11/15/44 (144A) 5.6235 11/15/2044 250,000 216,601
Fly Leasing, Ltd., 6.75%, 12/15/20 6.75 12/15/2020 590,000 639,671
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 4.125 03/15/2018 150,000 118,775
Vertafore, Inc., 10/3/19 4.25 10/20/2019 94,831 95,087
Fannie Mae, 4.5%, 9/1/40 4.5 09/01/2040 2,868,485 979,179
Cubist Pharmaceuticals, Inc., 1.125%, 9/1/18 (144A) 1.125 09/01/2018 500,000 559,844
Cemex SAB de CV, 5.875%, 3/25/19 (144A) 5.875 03/25/2019 550,000 577,834
Expert Global Solutions, Inc., 4/3/18 8.5 03/13/2018 223,259 216,003
Deluxe Entertainment Services Group, Inc., 2/26/20 6.5 02/26/2020 425,000 423,938
NCR Corp., 6.375%, 12/15/23 (144A) 6.375 12/15/2023 660,000 730,084
Renfro Corp., 1/30/19 5.75 01/23/2019 396,866 398,106
CenturyLink, Inc., 6.45%, 6/15/21 6.45 06/15/2021 500,000 558,621
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 5.918 09/25/2036 189,000 172,768
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 7.25 05/01/2022 600,000 621,963
Blackstone Holdings Finance Co LLC, 6.25%, 8/15/42 (144A) 6.25 08/15/2042 750,000 930,433
Fn 30 Yr Pool 4% #Av8392 01may44 4.0 05/01/2044 1,445,896 1,539,152
BioScrip, Inc., 8.875%, 2/15/21 (144A) 8.875 02/15/2021 1,050,000 1,125,724
WR Grace & Co., 1/23/21 2.4836 01/23/2021 172,782 172,285
GS Mortgage Securities Corp Trust 2014-NEW, 3.79%, 1/10/31 (144A) 3.79 01/10/2031 1,000,000 969,781
Talos Production LLC, 9.75%, 2/15/18 (144A) 9.75 02/15/2018 420,000 455,158
LB-UBS Commercial Mortgage Trust 2005-C2, Floating Rate Note, 4/15/40 5.2036 04/15/2040 1,000,000 1,027,431
HSBC Bank USA NA New York NY, 6.0%, 8/9/17 6.0 08/09/2017 250,000 287,493
NuVasive, Inc., 2.75%, 7/1/17 2.75 07/01/2017 1,300,000 1,472,521
Kane Flt% 30jul16   07/30/2016 805,000 805,000
Springleaf Funding Trust 2013-A, 5.0%, 9/15/21 (144A) 5.0 09/15/2021 500,000 504,842
Qwest Corp., 7.375%, 6/1/51 7.375 06/01/2051 4,400 115,632
FTS International, Inc., 6.25%, 5/1/22 (144A) 6.25 05/01/2022 1,080,000 1,110,038
EP Energy LLC, 5/24/18 3.5 05/24/2018 176,667 176,584
MGM Resorts International, 12/20/19 3.5 12/13/2019 266,625 266,375
Cincinnati Bell, Inc., 8.375%, 10/15/20 8.375 10/15/2020 1,105,000 1,224,563
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 6.75 10/01/2020 380,000 342,475
Michaels Stores, Inc., 1/28/20 3.75 01/16/2020 247,500 247,990
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 1,075,000 1,122,703
Wachovia Bank Commercial Mortgage Trust Series 2005-C22, Floating Rate Note, 12/15/44 5.3704 12/15/2044 1,600,000 1,638,871
Metinvest BV, 8.75%, 2/14/18 (144A) 8.75 02/14/2018 1,100,000 1,005,078
Gibraltar Industries, Inc., 6.25%, 2/1/21 6.25 02/01/2021 1,000,000 1,073,333
Ciena Corp., 0.875%, 6/15/17 0.875 06/15/2017 1,000,000 985,285
SM Energy Co., 5.0%, 1/15/24 (144A) 5.0 01/15/2024 455,000 456,769
Gsms Flt% 10apr38 06-Gg6-C 5.5978 04/10/2038 1,000,000 999,386
CNL Commercial Mortgage Loan Trust 2003-1, Floating Rate Note, 5/15/31 (144A) 0.6511 05/15/2031 5,908,000 588,040
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 7.25 01/15/2018 700,000 760,297
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A)   04/30/2018 350,000 350,595
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 5.6992 01/25/2033 400,000 68,272
Atrium Innovations, Inc., 1/29/21 4.25 01/29/2021 600,000 595,688
Cemex SAB de CV, 7.25%, 1/15/21 (144A) 7.25 01/15/2021 300,000 333,281
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 6.75 06/15/2021 1,425,000 1,490,728
Applied Systems, Inc., 1/15/21 4.25 01/15/2021 222,620 223,316
Hawaiian Airlines 2013-1 Class A Pass Through Certificates, 3.9%, 1/15/26 3.9 01/15/2026 105,000 103,397
GS Mortgage Securities Corp II, Floating Rate Note, 11/8/29 (144A) 3.751 11/08/2029 950,000 964,707
JPMorgan Chase & Co., 1.0%, 9/20/17 500.0 09/20/2017 250,000 31,536
Atwood Oceanics, Inc., 6.5%, 2/1/20 6.5 02/01/2020 900,000 973,500
Structured Asset Securities Corp Trust 2005-15, 6.0%, 8/25/35 6.0 08/25/2035 50,000 16,048
Hexion US Finance Corp., 8.875%, 2/1/18 8.875 02/01/2018 1,700,000 1,822,542
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 6.875 02/15/2019 825,000 877,221
Accredited Mortgage Loan Trust 2003-3, 5.21%, 1/25/34 (Step) 5.21 01/25/2034 8,190,000 1,216,259
LBC Tank Terminals Holding Netherlands BV, 6.875%, 5/15/23 (144A) 6.875 05/15/2023 220,000 233,872
The Ryland Group, Inc., 5.375%, 10/1/22 5.375 10/01/2022 95,000 95,376
Tower Automotive Holdings USA LLC, 4/23/20 3.2329 04/23/2020 930,629 930,629
Neenah Paper, Inc., 5.25%, 5/15/21 (144A) 5.25 05/15/2021 365,000 369,502
Iron Mountain, Inc., 5.75%, 8/15/24 5.75 08/15/2024 415,000 422,026
Skillsoft Corporation 1st Lien Tl L + 3.5% 23apr21 4.5 04/23/2021 500,000 500,521
Griffon Corp., 5.25%, 3/1/22 (144A) 5.25 03/01/2022 2,375,000 2,377,870
Petroleos Mexicanos, 3.5%, 7/18/18 3.5 07/18/2018 900,000 946,200
Aviation Capital Group Corp., 6.75%, 4/6/21 (144A) 6.75 04/06/2021 200,000 225,491
Livingston International, Inc., 4/18/19 5.0 04/18/2019 719,563 721,811
Seven Seas Cruises S de RL LLC, 9.125%, 5/15/19 9.125 05/15/2019 200,000 220,010
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 1,300,000 1,374,497
Lion I Re, Ltd., Floating Rate Note, 4/28/17 (Cat Bond) (144A) 2.579 04/28/2017 350,000 471,700
StoneMor Partners LP, 7.875%, 6/1/21 (144A) 7.875 06/01/2021 375,000 407,578
Citicorp Residential Mortgage Trust Series 2006-2, 5.948%, 9/25/36 (Step) 5.948 09/25/2036 1,900,000 996,452
Fixed Income Trust Series 2013-A, 0.0%, 10/15/97 (Step) (144A) 0.0   1,000,000 623,942
CNO Financial Group, Inc., 9/28/18 3.75 09/04/2018 92,720 92,775
Avis Budget Car Rental LLC, 5.5%, 4/1/23 5.5 04/01/2023 220,000 226,417
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 1,220,000 1,186,450
Standard Pacific Corp., 6.25%, 12/15/21 6.25 12/15/2021 1,000,000 1,101,319
Affiliated Managers Group, Inc., 4.25%, 2/15/24 4.25 02/15/2024 915,000 959,432
Citigroup Mortgage Loan Trust, Inc., 6.75%, 8/25/34 6.75 08/25/2034 300,000 64,829
Ally Financial, Inc., 7.0%, 12/31/49 (Perpetual) (144A) 7.0   1,600 1,621,600
Calpine Corp., 10/9/19 4.0 09/27/2019 443,744 445,477
WMG Acquisition Corp., 7/1/20 3.75 07/03/2020 681,575 670,819
Schaeffler Finance BV, 4.75%, 5/15/21 (144A) 4.75 05/15/2021 1,000,000 1,024,611
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 9.05 03/16/2016 250,000 271,363
United States Steel Corp., 2.75%, 4/1/19 2.75 04/01/2019 250,000 295,521
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 825,000 807,125
Landry's, Inc., 4/24/18 4.0 03/22/2018 518,321 520,022
Basic Energy Services, Inc., 7.75%, 10/15/22 7.75 10/15/2022 280,000 313,923
Igloo Holdings Corp., 8.25%, 12/15/17 (144A) (PIK) 8.25 12/15/2017 200,000 212,608
Golar LNG, Ltd., 3.75%, 3/7/17 3.75 03/07/2017 1,400,000 1,617,046
CSMC Trust 2014-SURF, Floating Rate Note, 2/15/29 3.26 02/15/2029 2,000,000 2,007,096
Phosagro OAO via Phosagro Bond Funding, Ltd., 4.204%, 2/13/18 (144A) 4.204 02/13/2018 200,000 200,522
Russian Agricultural Bank OJSC Via RSHB Capital SA, 8.5%, 10/16/23 (144A) 8.5 10/16/2023 1,350,000 1,364,344
Pioneer Energy Services Corp., 6.125%, 3/15/22 (144A) 6.125 03/15/2022 500,000 519,960
Commonwealth of the Bahamas, 5.75%, 1/16/24 (144A) 5.75 01/16/2024 1,700,000 1,834,406
Bombardier Recreational Products, Inc., 1/30/19 4.0 07/17/2019 400,857 401,072
TransDigm, Inc., 2/28/20 3.75 02/28/2020 297,739 296,762
PDL BioPharma, Inc., 4.0%, 2/1/18 4.0 02/01/2018 975,000 1,107,465
Stanley Black & Decker, Inc., Floating Rate Note, 12/15/53 5.75 12/15/2053 600,000 665,808
Exopack Holdings SA, 4/14/19 5.25 04/14/2019 29,925 30,393
Cemex Finance LLC, 6.0%, 4/1/24 (144A) 6.0 04/01/2024 200,000 207,250
Brazil Minas SPE via State of Minas Gerais, 5.333%, 2/15/28 (144A) 5.333 02/15/2028 500,000 509,027
DR Horton, Inc., 5.75%, 8/15/23 5.75 08/15/2023 905,000 979,147
US Airways, Inc., 11/23/16 3.0 11/23/2016 525,937 527,187
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 6.75 03/15/2023 700,000 699,346
Intelsat Jackson Holdings SA, 7.25%, 4/1/19 7.25 04/01/2019 250,000 270,208
SanDisk Corp., 0.5%, 10/15/20 (144A) 0.5 10/15/2020 460,000 560,919
Range Resources Corp., 5.0%, 3/15/23 5.0 03/15/2023 400,000 424,222
Barry Callebaut Services NV, 5.5%, 6/15/23 (144A) 5.5 06/15/2023 300,000 322,759
Hearthside Food Solutions Llc Bridge L + 6% 08apr15 6.2294 04/08/2015 925,000 925,000
CD 2005-CD1 Commercial Mortgage Trust, Floating Rate Note, 7/15/44 5.2281 07/15/2044 2,500,000 2,534,428
Bank of America Corp., 6.11%, 1/29/37 6.11 01/29/2037 625,000 734,764
Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A) 7.625 12/05/2019 450,000 154,666
Citicorp Residential Mortgage Trust Series 2007-1, 5.892%, 3/25/37 (Step) 5.892 03/25/2037 125,000 98,043
RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step) 4.46 07/25/2033 400,000 268,946
Unison Ground Lease Funding LLC, 5.78%, 3/15/20 (144A) 5.78 03/15/2020 300,000 292,150
Wastequip LLC, 8/9/19 5.5 08/08/2019 496,250 498,731
The PNC Financial Services Group, Inc., Floating Rate Note, 2/21/49 (Perpetual) 4.447 05/29/2049 1,200,000 1,203,882
Capella Healthcare, Inc., 9.25%, 7/1/17 9.25 07/01/2017 200,000 217,458
Monitronics International, Inc., 9.125%, 4/1/20 9.125 04/01/2020 785,000 847,964
Valeant Pharmaceuticals International, Inc., 8/5/20 3.75 05/20/2020 841,407 841,465
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 345,000 371,263
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 1,370,000 1,436,274
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/15/48 (144A) 4.3564 03/15/2048 200,000 188,735
Mentor Graphics Corp., 4.0%, 4/1/31 4.0 04/01/2031 175,000 215,104
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 5.2855 03/07/2016 500,000 509,575
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 4.5456 12/06/2016 800,000 827,320
Tar Heel Re, Ltd., Floating Rate Note, 5/9/16 (Cat Bond) (144A) 8.5304 05/09/2016 500,000 531,000
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 25,000 598,750
MMM Holdings, Inc., 12/12/17 9.75 10/09/2017 34,916 35,199
M&T Bank Corp., Floating Rate Note, 12/31/49 (Perpetual) 6.45 12/31/2049 1,430,000 1,540,408
Commercial Mortgage Trust 2007-GG11, Floating Rate Note, 12/10/49 6.0556 12/10/2049 1,600,000 1,675,763
ONEOK, Inc., 6.875%, 9/30/28 6.875 09/30/2028 1,450,000 1,692,516
Salix Pharmaceuticals, Ltd., 1.5%, 3/15/19 1.5 03/15/2019 500,000 919,396
Theravance, Inc., 2.125%, 1/15/23 2.125 01/15/2023 500,000 603,076
Atlantic Power LP, 2/20/21 4.75 02/20/2021 1,200,000 1,210,500
Sotheby's, 5.25%, 10/1/22 (144A) 5.25 10/01/2022 1,135,000 1,099,531
Gold Fields Orogen Holding BVI, Ltd., 4.875%, 10/7/20 (144A) 4.875 10/07/2020 400,000 366,871
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 7.25 05/01/2019 400,000 407,417
Aeroflex, Inc., 11/9/19 4.5 11/24/2019 126,184 126,842
Montpelier Re Holdings, Ltd., 4.7%, 10/15/22 4.7 10/15/2022 500,000 518,356
Star West Generation LLC, 3/13/20 4.25 03/13/2020 247,500 247,655
Nationstar Mortgage LLC, 6.5%, 8/1/18 6.5 08/01/2018 355,000 363,579
Radio Systems Corp., 8.375%, 11/1/19 (144A) 8.375 11/01/2019 600,000 659,688
AES Corp. Virginia, 4.875%, 5/15/23 4.875 05/15/2023 995,000 977,256
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 1,365,000 1,457,213
Lorillard Tobacco Co., 3.75%, 5/20/23 3.75 05/20/2023 175,000 173,005
JobsOhio Beverage System, 4.532%, 1/1/35 4.532 01/01/2035 75,000 77,629
National Financial Partners Corp., 7/1/20 5.25 06/19/2020 724,227 729,093
Bear Stearns ALT-A Trust 2003-3, Floating Rate Note, 10/25/33 2.06 10/25/2033 19,000,000 124,721
Carriage Services, Inc., 2.75%, 3/15/21 (144A) 2.75 03/15/2021 425,000 460,275
Vitality Re V, Ltd., Floating Rate Note, 1/7/19 (Cat Bond) (144A) 2.5304 01/07/2019 250,000 253,742
Covanta Holding Corp., 5.875%, 3/1/24 5.875 03/01/2024 695,000 722,016
USI, Inc. New York, 7.75%, 1/15/21 (144A) 7.75 01/15/2021 500,000 529,639
INEOS Group Holdings SA, 5.875%, 2/15/19 5.875 02/15/2019 600,000 621,335
National JSC Naftogaz of Ukraine, 9.5%, 9/30/14 9.5 09/30/2014 400,000 388,333
Gestamp Funding Luxembourg SA, 5.625%, 5/31/20 (144A) 5.625 05/31/2020 1,215,000 1,296,253
Wells Fargo & Co., Floating Rate Note, 12/29/49 5.9 12/29/2049 3,250,000 3,437,335
Unifrax I LLC, 7.5%, 2/15/19 (144A) 7.5 02/15/2019 630,000 675,413
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 2,500 254,575
SunPower Corp., 0.75%, 6/1/18 (144A) 0.75 06/01/2018 1,115,000 1,655,775
Sensus USA, Inc., 5/9/17 4.75 04/13/2017 244,953 245,769
Bank of America Corp., 7.25%, 12/31/49 (Perpetual) 7.25   1,340 1,594,680
FMG Resources August 2006 Pty, Ltd., 6/30/19 3.75 06/30/2019 295,885 295,908
Pittsburgh Glass Works LLC, 8.0%, 11/15/18 (144A) 8.0 11/15/2018 535,000 586,390
Tseau 8.375% 15may20 144a 8.375 05/15/2020 805,000 828,496
Lamar Media Corp., 5.375%, 1/15/24 5.375 01/15/2024 600,000 635,131
New York Mortgage Securitization Trust 2012-1, Floating Rate Note, 12/27/47 (144A) 6.6518 12/27/2047 300,000 301,829
County of York South Carolina, 5.7%, 1/1/24 5.7 01/01/2024 100,000 102,428
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 9.25 01/24/2020 750,000 724,594
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 9.0 01/29/2019 340,000 368,220
New Hampshire Health and Education Facilities Authority Act, 6.5%, 1/1/41 6.5 01/01/2041 150,000 172,901
Booz Allen Hamilton, Inc., 7/31/19 4.5 07/31/2019 124,031 124,511
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 7.875 04/15/2019 400,000 416,025
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 1,705,000 1,726,786
Stone Energy Corp., 7.5%, 11/15/22 7.5 11/15/2022 150,000 164,375
Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A) 6.5 02/24/2021 525,000 624,652
Credit Suisse First Boston Mortgage Securities Corp., 4.877%, 4/15/37 4.877 04/15/2037 1,500,000 1,529,018
The Goldman Sachs Group, Inc., 6.75%, 10/1/37 6.75 10/01/2037 225,000 272,501
Foresight Energy LLC, 8/21/20 5.5 08/19/2020 995,000 1,003,084
Mirabela Nickel, Ltd., 8.75%, 4/15/18 (144A) 8.75 04/15/2018 400,000 115,972
Sappi Papier Holding GmbH, 6.625%, 4/15/21 (144A) 6.625 04/15/2021 400,000 423,386
Mirabela Nickel, Ltd., 3.5%, 6/30/14 (144A) (PIK) 3.5 06/30/2014 45,000 44,823
Wachovia Bank Commercial Mortgage Trust Series 2006-C28, Floating Rate Note, 10/15/48 5.632 10/15/2048 1,500,000 1,549,057
Air Canada 2013-1 Class C Pass Through Trust, 6.625%, 5/15/18 (144A) 6.625 05/15/2018 500,000 520,622
TMX Finance LLC, 8.5%, 9/15/18 (144A) 8.5 09/15/2018 1,035,000 1,118,260
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 100,000 105,687
Samson Investment Co., 9/25/18 5.0 09/25/2018 1,000,000 1,001,964
Pinnacle Foods Finance LLC, 4/29/20 3.25 04/16/2020 198,000 197,175
Midstates Petroleum Co, Inc., 10.75%, 10/1/20 10.75 10/01/2020 650,000 736,396
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 10.0 08/15/2021 800,000 823,556
AXIS Equipment Finance Receivables II LLC, 4.94%, 7/20/18 (144A) 4.94 07/20/2018 400,000 407,814
MGM Resorts International, 4.25%, 4/15/15 4.25 04/15/2015 550,000 801,518
BBVA Banco Continental SA, 5.0%, 8/26/22 (144A) 5.0 08/26/2022 250,000 267,639
RESI Finance LP 2003-D, Floating Rate Note, 12/10/35 (144A) 1.4503 12/10/2035 2,970,000 599,599
CHS, 8.0%, 11/15/19 8.0 11/15/2019 1,075,000 1,183,635
Fieldwood Energy LLC, 9/25/18 3.875 09/25/2018 249,374 249,886
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 5.9668 05/15/2046 1,813,000 1,893,860
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 5.625 04/17/2020 400,000 384,750
Gebl Flt% 15jun33 05-1-C 0.8511 06/15/2033 2,500,000 784,957
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 5.4094 02/13/2046 500,000 480,985
Interline Brands, Inc., 3/12/21 4.0 03/12/2021 250,000 249,063
Astoria Financial Corp., 5.0%, 6/19/17 5.0 06/19/2017 100,000 110,444
Kane Flt% 01dec20   12/01/2020 1,004,200 1,004,200
Tempur Sealy International, Inc., 3/18/20 3.5 03/18/2020 124,588 124,160
NPC International, Inc., 12/28/18 4.0 12/28/2018 566,245 566,599
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 1,305,000 1,451,813
Arcelik AS, 5.0%, 4/3/23 (144A) 5.0 04/03/2023 400,000 388,167
Blackstone Holdings Finance Co LLC, 5.0%, 6/15/44 (144A) 5.0 06/15/2044 300,000 313,976
Amrn 3.5% 15jan32 3.5 01/15/2032 1,250,000 980,653
Darling Ingredients, Inc., 5.375%, 1/15/22 (144A) 5.375 01/15/2022 1,060,000 1,125,981
Cardtronics, Inc., 1.0%, 12/1/20 (144A) 1.0 12/01/2020 1,000,000 879,542
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 7.4015 02/13/2015 250,000 254,803
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 4.0304 05/05/2017 1,250,000 1,247,083
Univision Communications, Inc., 3/1/20 4.0 03/01/2020 519,625 518,650
Fidelity National Financial, Inc., 5.5%, 9/1/22 5.5 09/01/2022 250,000 277,557
TimberStar Trust 1, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 30,000 32,159
Rural, 6/30/18 8.0 03/28/2018 85,821 81,530
Constellation Brands, Inc., 3.75%, 5/1/21 3.75 05/01/2021 470,000 468,531
Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK) 8.5 10/15/2017 1,000,000 1,029,621
Continental Airlines 1997-4 Class B Pass Through Trust, 6.9%, 1/2/17 6.9 01/02/2017 250,000 13,052
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 8.875 11/01/2017 900,000 1,032,656
AMG Capital Trust II, 5.15%, 10/15/37 5.15 10/15/2037 28,000 1,739,500
AXA SA, 8.6%, 12/15/30 8.6 12/15/2030 250,000 344,946
Global Brass & Copper, Inc., 9.5%, 6/1/19 9.5 06/01/2019 500,000 595,000
General Electric Capital Corp., Floating Rate Note, 12/31/49 (Perpetual) 7.125 12/29/2049 1,000,000 1,212,854
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 400,000 422,000
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.96 10/12/2017 2,000,000 355,770
CenturyLink, Inc., 7.6%, 9/15/39 7.6 09/15/2039 150,000 153,157
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 5.95 12/29/2049 500,000 513,667
US Bancorp, Floating Rate Note, 12/31/49 (Perpetual) 6.5   12,250 354,638
Ardagh Glass Finance Plc, 8.75%, 2/1/20 (144A) 8.75 02/01/2020 600,000 898,499
Fn 30 Yr Pool 3.5% #Aw1004 01may44 3.5 05/01/2044 6,475,000 6,701,930
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 11.0 10/01/2016 100,000 93,333
Penn Virginia Corp., 7.25%, 4/15/19 7.25 04/15/2019 600,000 634,058
Sourcehov LLC, 4/30/18 5.25 04/30/2018 496,250 498,731
Swift Transportation Co LLC, 12/21/17 4.0 12/21/2017 231,187 231,813
NRG Energy, Inc., 8.25%, 9/1/20 8.25 09/01/2020 200,000 225,125
NorthStar Realty Finance Corp., 3.0%, 9/30/14 3.0 09/30/2014 2,570,000 2,577,898
Wendy's International LLC, 5/15/19 3.25 05/15/2019 752,630 755,527
SNAAC Auto Receivables Trust 2013-1, 4.56%, 4/15/20 (144A) 4.56 04/15/2020 450,000 473,472
Affinion Group, Inc., 10/9/16 6.75 10/09/2016 971,364 977,002
Citrus Re, Ltd., Floating Rate Note, 4/24/17 (Cat Bond) (144A)   04/24/2017 600,000 587,400
Intel Corp., 2.95%, 12/15/35 2.95 12/15/2035 300,000 362,581
Charter Communications Operating LLC, 12/31/20 3.0 01/01/2021 496,250 489,978
Private Colleges & Universities Authority, 5.0%, 10/1/43 5.0 10/01/2043 1,000,000 1,130,263
Meritor, Inc., 6.75%, 6/15/21 6.75 06/15/2021 400,000 439,450
CommScope Holding Co, Inc., 6.625%, 6/1/20 (144A) (PIK) 6.625 06/01/2020 650,000 715,406
Lgcy 6.625% 01dec21 144a 6.625 12/01/2021 1,300,000 1,362,563
Maine Turnpike Authority, 5.0%, 7/1/42 5.0 07/01/2042 1,000,000 1,122,693
Hercules Offshore, Inc., 6.75%, 4/1/22 (144A) 6.75 04/01/2022 965,000 950,223
ACCELLENT INC, Initial Term Loan (First Lien), 2/21/21 4.5 02/21/2021 925,000 921,387
Jun14 Vix C @ 14   06/18/2014 900 54,000
Merna Reinsurance V, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A)   04/07/2017 500,000 500,300
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 11.5 12/15/2019 265,000 313,171
USI, Inc. New York, 12/30/19 4.25 12/30/2019 197,508 197,878
Burger King Corp., 9/28/19 3.75 09/28/2019 76,830 77,235
FREMF Mortgage Trust 2013-K28, Floating Rate Note, 6/25/46 (144A) 3.4944 06/25/2046 1,000,000 947,352
Bombardier, Inc., 4.75%, 4/15/19 (144A) 4.75 04/15/2019 825,000