Pioneer Investments: Pioneer Dynamic Credit Fund


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Pioneer Dynamic Credit Fund

Monthly Portfolio Holdings as of 7/31/2014

Security Name Coupon Maturity Date Par / Shares Market Value($)
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 825,000 804,719
WESCO Distribution, Inc., Tranche B-1 Loan, 12/12/19 3.75 12/04/2019 165,030 165,443
Cemex Finance LLC, 6.0%, 4/1/24 (144A) 6.0 04/01/2024 200,000 204,000
Neiman Marcus Group, Ltd. LLC, 8.75%, 10/15/21 (144A) (PIK) 8.75 10/15/2021 500,000 546,632
Houghton Mifflin Harcourt Publishing Co., Term Loan, 5/22/18 4.25 05/22/2018 146,625 147,358
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 5.3272 07/10/2045 350,000 356,535
Brazil Minas SPE via State of Minas Gerais, 5.333%, 2/15/28 (144A) 5.333 02/15/2028 500,000 508,546
Northern Oil and Gas, Inc., 8.0%, 6/1/20 8.0 06/01/2020 880,000 940,133
Theravance, Inc., 2.125%, 1/15/23 2.125 01/15/2023 500,000 534,222
Navios Maritime Partners LP, Term Loan, 6/27/18 5.25 06/27/2018 397,000 402,293
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 485,000 521,031
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 5.5 05/20/2021 1,360,000 1,375,206
Prudential Financial, Inc., Floating Rate Note, 9/15/42 5.875 09/15/2042 400,000 441,878
Quikrete Holdings, Inc., Initial Loan (First Lien), 9/26/20 4.0 09/19/2020 277,900 278,322
Dynegy, Inc., Tranche B-2 Term Loan, 4/23/20 4.0 04/16/2020 304,615 304,901
Citigroup, Inc., Floating Rate Note (Perpetual) 5.9 12/31/2049 1,300,000 1,327,491
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.94 10/12/2017 2,000,000 335,796
Outerwall, Inc., 5.875%, 6/15/21 (144A) 5.875 06/15/2021 1,410,000 1,397,290
Legg Mason, Inc., 5.625%, 1/15/44 5.625 01/15/2044 500,000 548,966
Cummins, Inc., 5.65%, 3/1/98 5.65   350,000 402,834
Griffon Corp., 5.25%, 3/1/22 5.25 03/01/2022 2,375,000 2,377,870
BioScrip, Inc., Initial Term B Loan, 7/31/20 6.5 07/22/2020 487,281 493,981
Intelsat Luxembourg SA, 7.75%, 6/1/21 7.75 06/01/2021 350,000 362,396
Cemex SAB de CV, 7.25%, 1/15/21 (144A) 7.25 01/15/2021 300,000 318,967
Lamar Media Corp., 5.375%, 1/15/24 (144A) 5.375 01/15/2024 600,000 608,933
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 7.75 01/31/2023 400,000 444,086
Calpine Construction Finance Co LP, Term B-1 Loan, 5/3/20 3.0 05/01/2020 529,650 520,050
Ziggo Bv 1st Lien Tl-B2 L + 2.75% 15jan22 3.5 01/15/2022 357,447 351,830
Salix Pharmaceuticals, Ltd., 1.5%, 3/15/19 1.5 03/15/2019 500,000 1,035,958
HSBC Bank USA NA New York NY, 6.0%, 8/9/17 6.0 08/09/2017 250,000 287,618
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 5.2429 01/25/2035 1,100,000 154,453
JP Morgan Chase Commercial Mortgage Securities Trust 2005-LDP4, Floating Rate Note, 10/15/42 5.04 10/15/2042 1,300,000 1,336,447
RTI International Metals, Inc., 1.625%, 10/15/19 1.625 10/15/2019 385,000 376,977
Verint Systems, Inc., Tranche B Incremental Term Loan, 9/6/19 3.5 09/06/2019 368,872 368,872
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 345,000 365,657
Advantage Sales & Marketing Inc 1st Lien Tl-B L + 3.25% 11jul21 4.25 07/11/2021 464,730 463,153
Structured Asset Securities Corp Trust 2005-15, 6.0%, 8/25/35 6.0 08/25/2035 50,000 15,517
Midstates Petroleum Co, Inc., 10.75%, 10/1/20 10.75 10/01/2020 650,000 723,667
National JSC Naftogaz of Ukraine, 9.5%, 9/30/14 9.5 09/30/2014 400,000 401,772
A10 Securitization 2013-1 LLC, 4.7%, 11/15/25 (144A) 4.7 11/15/2025 350,000 348,001
Pro Mach, Inc., Term Loan, 7/6/17 4.5 07/16/2017 868,300 874,812
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 928,000 1,029,500
Crossmark Holdings, Inc., Term Loan (First Lien), 12/20/19 4.5 01/31/2020 197,123 196,384
US Finco LLC, Term B Loan, 5/30/20 4.0 05/29/2020 495,000 494,227
WCA Waste Corp., Term Loan, 3/23/18 4.0 03/23/2018 696,017 696,452
Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A) 8.75 12/15/2019 275,000 308,325
La Hipotecaria Panamanian Mortgage Trust 2007-1, Floating Rate Note, 12/23/36 (144A) 4.5 12/23/2036 1,800,000 912,949
Aeroflex, Inc., Tranche B-1 Term Loan, 11/9/19 4.5 11/24/2019 126,184 126,684
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 1,305,000 1,422,450
Israel Electric Corp, Ltd., 5.625%, 6/21/18 (144A) 5.625 06/21/2018 900,000 965,025
EP Energy LLC, Tranche B-3 Loan, 5/24/18 3.5 05/24/2018 176,667 176,243
Ruby Western Pipeline Holdings LLC, Loan, 3/27/20 3.5 03/27/2020 258,821 258,659
Templar Energy Llc 2ndlien L + 7.7215% 04nov20 0.2329 11/04/2020 1,895,000 1,880,788
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 6.75 05/07/2019 173,250 173,791
Constellation Brands, Inc., 4.25%, 5/1/23 4.25 05/01/2023 485,000 484,091
US Airways, Inc., Tranche B-2 Term Loan (Consenting), 11/23/16 3.0 11/23/2016 525,937 526,463
Wachovia Bank Commercial Mortgage Trust Series 2005-C22, Floating Rate Note, 12/15/44 5.5447 12/15/2044 1,600,000 1,650,194
Progreso Receivables Funding I LLC, 4.0%, 7/9/18 (144A) 4.0 07/09/2018 1,250,000 1,262,569
Northshore Re, Ltd., Floating Rate Note, 7/5/16 (Cat Bond) (144A) 7.275 07/05/2016 500,000 518,272
Serena Software Inc 1st Lien Term L + 6.5% 10apr20 7.5 04/10/2020 290,000 292,779
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 4.447 05/29/2049 1,200,000 1,208,573
Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A) 5.625 03/30/2043 750,000 862,201
NSG Holdings LLC, New Term Loan, 12/11/19 3.75 11/15/2019 221,428 221,704
Rural, Term Loan, 6/30/18 8.0 03/28/2018 85,821 81,637
MMM Holdings, Inc., MMM Term Loan, 12/12/17 9.75 10/09/2017 33,947 34,244
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 6.875 08/01/2022 1,090,000 1,060,214
Atlas IX Capital, Ltd., Floating Rate Note, 1/17/19 (Cat Bond) (144A) 3.4246 01/17/2019 250,000 257,938
CSMC Trust 2014-SURF, Floating Rate Note, 2/15/29 3.26 02/15/2029 2,000,000 2,003,175
Trilogy Energy Corp., 7.25%, 12/13/19 (144A) 7.25 12/13/2019 820,000 804,748
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 5.623 05/12/2045 1,400,000 1,438,246
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 800,000 842,000
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 6.75 08/29/2049 1,835,000 2,023,890
Hearthside Group Holdings Llc 1st Lien Tl L + 3.5% 24apr21 4.5 04/24/2021 250,000 250,833
Grays Harbor County Public Utility District No 1, 5.0%, 7/1/43 5.0 07/01/2043 1,000,000 1,072,327
Summit Midstream Holdings LLC, 7.5%, 7/1/21 7.5 07/01/2021 1,030,000 1,126,563
Aug14 Vix C @ 13   08/20/2014 900 227,250
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 300,000 288,998
Molina Healthcare, Inc., 1.125%, 1/15/20 1.125 01/15/2020 1,100,000 1,289,613
WireCo WorldGroup, Inc., Term Loan, 2/15/17 6.0 04/13/2017 48,660 49,106
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 5.273 12/11/2038 2,642,507 2,701,478
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 9.5 05/04/2020 100,000 108,266
Quebecor Media, Inc., Facility B-1 Tranche, 8/17/20 3.25 08/01/2020 236,691 233,880
Morgan Stanley, 4.875%, 11/1/22 4.875 11/01/2022 250,000 269,233
Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK) 8.5 10/15/2017 1,000,000 1,035,028
Maine Turnpike Authority, 5.0%, 7/1/42 5.0 07/01/2042 1,000,000 1,104,897
Nationstar Mortgage LLC, 6.5%, 8/1/18 6.5 08/01/2018 355,000 362,988
Virgin Media Investment Holdings, Ltd., B Facility, 6/8/20 3.5 02/06/2020 790,000 783,766
Hostess Brands, Inc., Term B Loan, 4/9/20 6.75 02/25/2020 678,300 701,193
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 8.625 06/15/2019 350,000 356,734
VOLT XXII LLC, 4.75%, 10/27/53 (Step) 4.75 10/27/2053 2,500,000 2,493,528
Steel Dynamics, Inc., 5.25%, 4/15/23 5.25 04/15/2023 1,000,000 1,022,958
Infor US, Inc., Tranche B-5 Term Loan, 6/3/20 3.75 06/03/2020 220,913 219,394
Coveris Holdings SA, USD Term Loan, 4/14/19 5.25 04/14/2019 29,850 30,267
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3.75 08/23/2019 558,881 559,755
Ocwen Financial Corp., 6.625%, 5/15/19 (144A) 6.625 05/15/2019 1,450,000 1,503,705
MacDermid, Inc., Tranche B Term Loan (First Lien), 6/7/20 4.0 06/06/2020 841,500 842,447
WFRBS Commercial Mortgage Trust 2011-C4, Floating Rate Note, 6/17/44 (144A) 5.4134 06/15/2044 50,000 53,902
NovaStar Mortgage Funding Trust Series 2003-1, Floating Rate Note, 5/25/33 0.915 05/25/2033 10,571,000 291,914
Inkia Energy, Ltd., 8.375%, 4/4/21 (144A) 8.375 04/04/2021 100,000 112,722
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 1,705,000 1,723,944
Sensus USA, Inc., Term Loan (First Lien), 5/9/17 4.75 04/13/2017 244,323 245,240
Bayview Opportunity Master Fund Trust IIIa 2014-12RPL, 3.6225%, 7/28/19 (Step) (144A) 3.6225 07/28/2019 500,000 500,000
Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A) 8.5 05/15/2020 700,000 836,834
Valeant Pharmaceuticals International, Inc., Series E1 Tranche B Term Loan, 8/5/20 3.75 05/20/2020 728,520 727,963
Windstream Corp., 8.125%, 9/1/18 8.125 09/01/2018 850,000 914,901
Pangaea Zero% 01jul18 0.0 07/01/2018 2,000,000 2,037,200
NEP, Amendment No. 3 Incremental Term Loan (First Lien), 1/22/20 4.25 01/22/2020 446,880 447,299
JLL, Initial Dollar Term Loan, 1/23/21 4.25 01/23/2021 450,000 447,188
Talos Production LLC, 9.75%, 2/15/18 (144A) 9.75 02/15/2018 420,000 454,633
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 11.2652 11/10/2015 250,000 264,928
Firstar Realty LLC, 8.875% (Perpetual) (144A) 8.875   400 500,875
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 4.7703 04/30/2018 1,150,000 1,156,084
Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A) 6.5 02/24/2021 525,000 623,876
AES Corp. Virginia, 4.875%, 5/15/23 4.875 05/15/2023 995,000 948,028
Lorillard Tobacco Co., 3.75%, 5/20/23 3.75 05/20/2023 175,000 172,740
Banc of America Mortgage Trust 2004-2, 5.5%, 3/25/34 5.5 03/25/2034 212,565 77,702
Tenet Healthcare Corp., 4.375%, 10/1/21 4.375 10/01/2021 980,000 946,823
Avis Budget Car Rental LLC, 5.5%, 4/1/23 5.5 04/01/2023 220,000 224,033
Cubist Pharmaceuticals, Inc., 1.125%, 9/1/18 (144A) 1.125 09/01/2018 500,000 539,219
Air Canada 2013-1 Class A Pass Through Trust, 4.125%, 11/15/26 (144A) 4.125 05/15/2025 500,000 500,868
Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 7/25/34 2.436 07/25/2034 406,549 70,019
Altice Financing SA, 6.5%, 1/15/22 (144A) 6.5 01/15/2022 1,300,000 1,339,506
Tata Chemicals North America, Inc., Term Loan, 8/7/20 3.75 08/08/2020 247,500 247,110
ON Semiconductor Corp., 2.625%, 12/15/26 2.625 12/15/2026 1,000,000 1,138,354
Carriage Services, Inc., 2.75%, 3/15/21 (144A) 2.75 03/15/2021 425,000 434,598
CommScope, Inc., Tranche 3 Term Loan, 1/21/17 2.7276 01/21/2017 105,265 105,397
Pacific Drilling SA, Term Loan, 6/3/18 4.5 05/20/2018 544,500 546,542
Avis Budget Finance Plc, 6.0%, 3/1/21 (144A) 6.0 03/01/2021 150,000 218,566
FCI - FIDJI LUXEMBOURG BC4 SARL, Term Loan, 12/19/20 6.25 12/19/2020 414,750 418,898
Voya Financial, Inc., Floating Rate Note, 5/15/53 5.65 05/15/2053 615,000 633,098
Flagship Credit Auto Trust 2013-1, 5.38%, 7/15/20 5.38 07/15/2020 700,000 720,100
B&G Foods, Inc., 4.625%, 6/1/21 4.625 06/01/2021 400,000 393,083
Select Medical Corp., Series E Tranche B Term Loan, 6/1/18 3.7502 06/01/2018 21,259 21,259
Structured Asset Mortgage Investments Trust 2003-AR1, Floating Rate Note, 10/19/33 1.6562 10/19/2033 3,319,800 120,674
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 10.0304 06/06/2016 500,000 554,078
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 9.0203 03/12/2015 250,000 256,288
Transfield Services, Ltd., 8.375%, 5/15/20 (144A) 8.375 05/15/2020 805,000 842,751
Nordea Bank AB, 4.25%, 9/21/22 (144A) 4.25 09/21/2022 250,000 262,941
Renfro Corp., Tranche B Term Loan, 1/30/19 5.75 01/23/2019 395,861 396,974
Springs Industries, Inc., 6.25%, 6/1/21 6.25 06/01/2021 400,000 403,167
United Airlines, Inc., Class B Term Loan, 4/1/19 3.5 03/12/2019 246,875 246,320
Glencore Funding LLC, 4.125%, 5/30/23 (144A) 4.125 05/30/2023 200,000 200,934
Sotheby's, 5.25%, 10/1/22 (144A) 5.25 10/01/2022 1,135,000 1,129,325
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 8.0304 06/06/2016 250,000 273,286
The Ryland Group, Inc., 5.375%, 10/1/22 5.375 10/01/2022 95,000 94,802
The Goldman Sachs Group, Inc., 6.45%, 5/1/36 6.45 05/01/2036 300,000 354,073
Covanta Holding Corp., 5.875%, 3/1/24 5.875 03/01/2024 1,130,000 1,173,689
Alkermes, Inc., 2019 Term Loan, 9/25/19 3.5 09/25/2019 691,462 690,742
AXIS Equipment Finance Receivables II LLC, 4.94%, 7/20/18 (144A) 4.94 07/20/2018 1,100,000 1,114,670
Forest City Enterprises, Inc., 3.625%, 8/15/20 3.625 08/15/2020 1,265,000 1,340,698
GRIFOLS WORLDWIDE OPERATIONS USA INC, U.S. Tranche B Term Loam, 4/1/21 3.2346 04/01/2021 99,750 99,431
Fannie Mae, 4.0%, 9/1/43 4.0 09/01/2043 528,373 531,953
Approach Resources, Inc., 7.0%, 6/15/21 7.0 06/15/2021 2,020,000 2,113,818
Oasis Petroleum, Inc., 6.875%, 3/15/22 (144A) 6.875 03/15/2022 500,000 554,236
Central American Bottling Corp., 6.75%, 2/9/22 (144A) 6.75 02/09/2022 149,000 165,278
Akamai Technologies, Inc., 0.0%, 2/15/19 (144A) 0.0 02/15/2019 760,000 769,980
Navistar, Inc., Tranche B Term Loan, 8/17/17 5.75 07/31/2017 120,000 121,425
StoneMor Partners LP, 7.875%, 6/1/21 (144A) 7.875 06/01/2021 375,000 398,672
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 11.0 10/01/2016 100,000 98,417
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.5175 04/09/2015 1,000,000 1,021,517
Allegion US Holding Co, Inc., 5.75%, 10/1/21 5.75 10/01/2021 930,000 994,325
Albertsons LLC, Term B-2 Loan, 3/21/19 4.75 03/21/2019 894,254 899,920
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 540,000 576,540
Federal Home Loan Mortgage Corp., 4.036%, 5/25/45 (144A) 4.1758 05/25/2045 175,000 175,927
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 250,000 186,218
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 5.625 04/17/2020 400,000 371,500
Motel 6 Trust, 4.2743%, 10/5/25 (144A) 4.2743 10/05/2025 1,327,000 1,313,259
AT&T, Inc., 3.9%, 3/11/24 3.9 03/11/2024 3,500,000 3,670,723
Fannie Mae, 4.5%, 8/1/40 4.5 08/01/2040 3,070,237 1,545,707
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 5.6248 07/10/2044 113,538 128,262
Wells Fargo Commercial Mortgage Trust, 4.0%, 11/18/43 (144A) 4.0 11/15/2043 100,000 88,535
Vantiv LLC, Term B Loan, 6/12/21 3.75 06/12/2021 385,000 386,925
Emulex Corp., 1.75%, 11/15/18 (144A) 1.75 11/15/2018 765,000 712,842
Flextronics International, Ltd., 5.0%, 2/15/23 5.0 02/15/2023 145,000 150,518
Paragon Offshore Finance Co Tl-B L + 2.75% 11jul21 3.75 07/11/2021 290,000 288,822
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 5.82 06/15/2019 750,000 748,094
COMM 2012-CCRE4 Mortgage Trust, Floating Rate Note, 10/17/45 (144A) 4.7285 10/15/2045 303,000 295,357
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 430,000 485,363
Seagate HDD Cayman, 4.75%, 6/1/23 (144A) 4.75 06/01/2023 885,000 900,856
Bayview Commercial Asset Trust, Floating Rate Note, 4/25/34 (144A) 1.355 04/25/2034 4,900,000 491,313
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 8.25 06/07/2021 900,000 1,030,388
United Continental Holdings, Inc., 6.0%, 7/15/26 6.0 07/15/2026 475,000 466,173
Bank of Tokyo-Mitsubishi UFJ, Ltd. New York NY, 0.1%, 8/5/14 0.1 08/05/2014 1,925,000 1,924,997
Signode Industrial Group Us Inc 1st Lien Tl-B L + 3% 21mar21 4.0 03/21/2021 1,069,000 1,065,214
JinkoSolar Holding Co, Ltd., 4.0%, 2/1/19 (144A) 4.0 02/01/2019 1,455,000 1,396,436
CHS, 8.0%, 11/15/19 8.0 11/15/2019 1,075,000 1,171,308
Copano Energy LLC, 7.125%, 4/1/21 7.125 04/01/2021 373,000 428,975
IAP Worldwide Services, Inc., Term Loan (First Lien) Retired 07/18/2014, 12/31/15 10.0 12/31/2015 110,049 31,914
New Residential Advance Receivables Trust Advance Receivables Backed 2014-VF1, 3.6491%, 3/15/45 3.6491 03/15/2045 1,000,000 1,002,256
National Financial Partners 1st Lien Tl-B L + 3.5% 01jul20 3.7316 07/01/2020 722,396 722,035
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.9653 05/15/2046 715,000 668,391
Sunoco Logistics Partners Operations LP, 3.45%, 1/15/23 3.45 01/15/2023 3,600,000 3,518,728
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 620,000 633,123
Corporate Office Properties LP, 3.6%, 5/15/23 3.6 05/15/2023 225,000 217,097
Belden, Inc., 5.5%, 9/1/22 (144A) 5.5 09/01/2022 1,860,000 1,949,125
Seagate HDD Cayman, 4.75%, 1/1/25 (144A) 4.75 01/01/2025 1,100,000 1,092,644
Morgan Stanley, 4.1%, 5/22/23 4.1 05/22/2023 750,000 758,277
Hospitality Properties Trust, 5.0%, 8/15/22 5.0 08/15/2022 840,000 905,892
Transnet SOC, Ltd., 4.0%, 7/26/22 (144A) 4.0 07/26/2022 325,000 309,581
Sequa Corp., Initial Term Loan, 6/19/17 5.25 05/29/2017 738,750 730,901
FTS International, Inc., 6.25%, 5/1/22 (144A) 6.25 05/01/2022 1,080,000 1,118,588
Concho Resources, Inc., 5.5%, 4/1/23 5.5 04/01/2023 375,000 395,000
Maine Health & Higher Educational Facilities Authority, 5.0%, 7/1/43 5.0 07/01/2043 1,000,000 1,079,287
GS Mortgage Securities Corp Trust 2014-NEW, 3.79%, 1/10/31 (144A) 3.79 01/10/2031 1,000,000 960,343
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 2,815,000 2,899,402
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 705,000 752,000
Michaels Stores, Inc., Term B Loan, 1/28/20 3.75 01/16/2020 246,875 246,346
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 100,000 115,130
Massachusetts Development Finance Agency, 5.25%, 4/1/37 5.25 04/01/2037 100,000 110,767
Massachusetts Water Resources Authority, 5.0%, 8/1/37 5.0 08/01/2037 1,000,000 1,138,470
Barry Callebaut Services NV, 5.5%, 6/15/23 (144A) 5.5 06/15/2023 300,000 319,393
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 10.0 08/15/2021 800,000 848,889
DynCorp International, Inc., Term Loan, 7/7/16 6.25 07/07/2016 76,347 76,729
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 6.125 09/15/2023 1,700,000 1,871,086
Viasystems, Inc., 7.875%, 5/1/19 (144A) 7.875 05/01/2019 1,450,000 1,536,547
Vedanta Resources Plc, 6.0%, 1/31/19 (144A) 6.0 01/31/2019 1,450,000 1,496,158
WCP ISSUER LLC, 6.657%, 8/15/20 (144A) 6.657 08/15/2020 400,000 429,113
Mid-State Capital Trust 2010-1, 7.0%, 12/15/45 (144A) 7.0 12/15/2045 25,000 20,214
Credit Suisse First Boston Mortgage Securities Corp., 4.898%, 3/15/36 (144A) 4.898 03/15/2036 1,000,000 49,797
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 5.75 08/25/2036 1,200,000 190,108
Kinetic Concepts, Inc., Dollar Term E-1 Loan, 5/4/18 4.0 05/04/2018 393,168 393,588
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 5.75 12/15/2018 680,000 712,196
Banco de Bogota SA, 5.375%, 2/19/23 (144A) 5.375 02/19/2023 500,000 525,844
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 5.152 03/15/2018 1,300,000 1,309,793
T-Mobile USA, Inc., 6.633%, 4/28/21 6.633 04/28/2021 555,000 583,057
LKQ Corp., 4.75%, 5/15/23 4.75 05/15/2023 250,000 243,757
Mythen Re, Ltd. Series 2013-1 Class B, Floating Rate Note, 7/9/15 (Cat Bond) (144A) 8.0325 07/09/2015 250,000 256,278
Bear Stearns ALT-A Trust 2003-3, Floating Rate Note, 10/25/33 2.0595 10/25/2033 19,000,000 123,688
Steward Health Care System LLC, Term Loan, 4/10/20 6.75 04/12/2020 495,000 491,906
Sabre GLBL, Inc., Term B Loan, 2/19/19 4.25 02/01/2019 198,990 198,720
Immucor, Inc., Term B-2 Loan, 8/19/18 5.0 08/19/2018 443,744 446,240
Lehman Brothers Small Balance Commercial Mortgage Trust 2006-3, Floating Rate Note, 12/25/36 (144A) 0.355 12/25/2036 1,895,356 416,623
Bayview Commercial Asset Trust, Floating Rate Note, 8/25/35 (144A) 0.465 08/25/2035 1,400,000 321,495
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/25/59 (144A) 5.3 12/25/2059 200,000 207,639
Bombardier Recreational Products, Inc., Term B Loan, 1/30/19 4.0 07/17/2019 400,857 400,356
Drill Rigs Holdings, Inc., 6.5%, 10/1/17 (144A) 6.5 10/01/2017 845,000 871,758
Bombardier, Inc., 4.75%, 4/15/19 (144A) 4.75 04/15/2019 825,000 812,064
Cequel Communications LLC, Term Loan, 2/14/19 3.5 01/31/2019 383,243 381,646
Arysta Lifescience SPC LLC, Initial Term Loan (First Lien), 5/29/20 4.5 05/22/2020 1,269,338 1,269,867
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 12.0203 03/12/2015 250,000 258,383
WebMD Health Corp., 1.5%, 12/1/20 (144A) 1.5 12/01/2020 1,300,000 1,476,313
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 570,000 602,055
Continental Airlines 1997-4 Class B Pass Through Trust, 6.9%, 1/2/17 6.9 01/02/2017 250,000 12,626
Gwinnett County School District, 5.0%, 2/1/36 5.0 02/01/2036 1,000,000 1,163,620
Affiliated Managers Group, Inc., 4.25%, 2/15/24 4.25 02/15/2024 915,000 958,194
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 4.5304 12/06/2016 800,000 821,840
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 208,000 191,029
Production Resource Group, Inc., 8.875%, 5/1/19 8.875 05/01/2019 100,000 82,219
US Airways 2013-1 Class A Pass Through Trust, 3.95%, 5/15/27 3.95 11/15/2025 400,000 410,856
CNO Financial Group, Inc., Tranche B-2 Term Loan, 9/28/18 3.75 09/04/2018 92,470 92,498
Air Canada 2013-1 Class C Pass Through Trust, 6.625%, 5/15/18 (144A) 6.625 05/15/2018 500,000 530,268
BC Mountain LLC, 7.0%, 2/1/21 (144A) 7.0 02/01/2021 400,000 398,000
Progressive Waste Solutions, Ltd., Term B Loan, 10/24/19 3.0 10/31/2019 445,477 447,566
Hilton USA Trust 2013-HLF, Floating Rate Note, 11/5/30 (144A) 2.906 11/05/2030 1,900,000 1,912,543
Mirror BidCo Corp., New Incremental Term Loan, 12/18/19 4.25 12/18/2019 921,062 922,597
International Equipment Solutions LLC, Initial Loan, 8/16/19 6.75 07/25/2019 669,614 673,800
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 350,000 258,922
Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A) 8.625 02/01/2020 1,265,000 1,363,828
Taminco Global Chemical Corp., Initial Tranche B-3 Dollar Term Loan, 2/15/19 3.25 02/15/2019 342,917 342,060
Hexion US Finance Corp., 8.875%, 2/1/18 8.875 02/01/2018 1,700,000 1,829,838
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 7.375 11/01/2021 860,000 832,226
VOLT XXIV LLC, 4.75%, 11/25/53 (Step) 4.75 11/25/2053 1,000,000 999,100
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 5.135 10/15/2039 100,000 89,883
WR Grace & Co-Conn, U.S. Term Loan, 1/23/21 3.0 01/23/2021 482,582 481,928
Univar, Inc., Term B Loan, 6/30/17 5.0 02/14/2017 267,206 267,874
DigitalGlobe, Inc., Term Loan, 1/31/20 3.75 01/25/2020 695,942 696,638
Bright Horizons Family Solutions, Inc., Term B Loan, 1/30/20 3.7501 01/14/2020 492,500 491,936
Reliance Steel & Aluminum Co., 4.5%, 4/15/23 4.5 04/15/2023 490,000 509,089
U.S. Treasury Floating Rate Note, 0.099%, 7/31/16 0.099 07/31/2016 3,840,000 3,834,565
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 7.25 05/01/2019 400,000 403,750
Six Flags Theme Parks, Inc., Tranche B Term Loan, 12/20/18 3.5034 11/23/2018 247,487 248,221
Advanced Micro Devices, Inc., 7.0%, 7/1/24 (144A) 7.0 07/01/2024 865,000 850,944
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 (144A) 5.25 04/01/2022 645,000 660,493
Energy XXI Gulf Coast, Inc., 7.5%, 12/15/21 7.5 12/15/2021 1,360,000 1,434,233
Monty Parent Issuer 1 LLC, 3.47%, 11/20/28 (144A) 3.47 11/20/2028 1,750,000 1,065,067
Fixed Income Trust Series 2013-A, 0.0%, 10/15/97 (Step) (144A) 0.0   1,000,000 632,254
Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 12/25/35 5.5 12/25/2035 5,000,000 1,429,770
AgStar Financial Services ACA, Floating Rate Note (Perpetual) (144A) 6.75   1,500 1,530,375
Arc Automotive Group, Inc., Term Loan, 11/15/18 6.0 11/01/2018 527,141 529,117
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 12.0 07/01/2019 1,095,000 1,130,588
US Renal Care, Inc., Tranche B-2 Term Loan (First Lien), 7/3/19 4.25 07/03/2019 645,747 645,142
IMS Health, Inc., 6.0%, 11/1/20 (144A) 6.0 11/01/2020 170,000 180,200
JP Morgan Chase Commercial Mortgage Securities Trust 2014-INN, Floating Rate Note, 6/15/29 3.751 06/15/2029 1,530,000 1,533,655
CenturyLink, Inc., 6.45%, 6/15/21 6.45 06/15/2021 500,000 541,621
Sanchez Energy Corp., 6.125%, 1/15/23 (144A) 6.125 01/15/2023 1,680,000 1,685,518
NRG Energy, Inc., 6.25%, 5/1/24 (144A) 6.25 05/01/2024 1,075,000 1,093,663
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 (144A) 5.1 08/15/2038 1,400,000 1,285,724
Amsurg Corp., 5.625%, 7/15/22 (144A) 5.625 07/15/2022 1,545,000 1,556,346
New York Mortgage Securitization Trust 2012-1, Floating Rate Note, 12/27/47 (144A) 6.65 12/27/2047 300,000 300,222
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 6.75 04/01/2020 445,000 472,813
RAMP Series 2004-RZ1 Trust, 4.82%, 3/25/34 (Step) 4.82 03/25/2034 3,164,644 1,066,859
Tempur Sealy International, Inc., New Term B Loan, 3/18/20 3.5 03/18/2020 124,274 124,227
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 11.5 02/15/2018 100,000 53,774
Igloo Holdings Corp., 8.25%, 12/15/17 (144A) (PIK) 8.25 12/15/2017 200,000 204,858
Avago Technologies Ltd 1st Lien Tl-B L + 3% 16apr21 3.75 04/16/2021 300,000 299,765
Phosagro OAO via Phosagro Bond Funding, Ltd., 4.204%, 2/13/18 (144A) 4.204 02/13/2018 200,000 193,924
Wausau Paper 1st Lien Tl-B L + 5.5% 20jul20   07/20/2020 1,100,000 1,091,750
Resolute Forest Products, Inc., 5.875%, 5/15/23 5.875 05/15/2023 1,610,000 1,549,468
Hologic, Inc., Refinancing Tranche B Term Loan, 8/1/19 3.25 08/01/2019 337,725 336,705
A10 Securitization 2013-1 LLC, 6.41%, 11/15/25 (144A) 6.41 11/15/2025 139,000 138,336
ATKORE INTERNATIONAL INC, Term Loan (First Lien), 3/27/21 4.5 03/27/2021 900,000 899,250
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 4.5 04/23/2021 1,000,000 999,375
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 10.875 01/26/2021 100,000 92,651
Polarpak, Inc., USD Term Loan (U.S. Borrower Portion), 6/7/20 4.5 06/07/2020 232,502 232,502
Gentiva Health Services, Inc., Initial Term B Loan, 10/10/19 6.5 10/10/2019 1,119,063 1,121,680
Davita Healthcare Partners Inc 1st Lien Tl-B L + 2.75% 19jun21   06/19/2021 63,499 63,482
Brown Shoe Co, Inc., 7.125%, 5/15/19 7.125 05/15/2019 750,000 799,719
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 9.03 03/16/2016 250,000 267,738
Rovi Solutions Corp 1st Lien Tl-B L + 3% 02jul21 3.75 07/02/2021 204,275 204,020
Fieldwood Energy LLC, Closing Date Loan, 9/25/18 3.875 09/25/2018 248,748 249,335
CityCenter Holdings LLC, Term B Loan, 10/16/20 4.25 10/09/2020 227,316 228,169
DaVita HealthCare Partners, Inc., 5.125%, 7/15/24 5.125 07/15/2024 1,360,000 1,348,893
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 1,075,000 1,132,109
Numericable Group SA, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 500,000 509,417
Mentor Graphics Corp., 4.0%, 4/1/31 4.0 04/01/2031 175,000 204,458
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 5.125 08/01/2022 1,100,000 1,103,220
Brocade Communications Systems, Inc., 4.625%, 1/15/23 4.625 01/15/2023 915,000 880,281
Offshore Group Investment, Ltd., Second Term Loan, 3/28/19 5.75 03/28/2019 395,000 393,930
j2 Global, Inc., 8.0%, 8/1/20 8.0 08/01/2020 705,000 789,600
Gold Fields Orogen Holding BVI, Ltd., 4.875%, 10/7/20 (144A) 4.875 10/07/2020 400,000 368,175
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 250,000 247,735
Outerwall, Inc., 6.0%, 3/15/19 6.0 03/15/2019 435,000 454,648
Syniverse Holdings, Inc., Tranche B Term Loan, 4/23/19 4.0 04/23/2019 484,761 484,458
Energy & Exploration Partners, Inc., 8.0%, 7/1/19 (144A) 8.0 07/01/2019 1,520,000 1,530,640
RegionalCare Hospital Partners, Inc., Term Loan (First Lien), 4/21/19 6.0 04/21/2019 346,629 348,254
LBC Tank Terminals Holding Netherlands BV, 6.875%, 5/15/23 (144A) 6.875 05/15/2023 220,000 236,943
Garda World Security Corp., Term B Delayed Draw Loan, 11/8/20 4.0 11/08/2020 52,542 52,476
State of Washington, 5.0%, 6/1/41 5.0 06/01/2041 1,000,000 1,107,033
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 400,000 466,320
Pacific Drilling SA, 5.375%, 6/1/20 (144A) 5.375 06/01/2020 450,000 432,656
Empresas ICA SAB de CV, 8.375%, 7/24/17 (144A) 8.375 07/24/2017 150,000 158,307
Applied Systems, Inc., Initial Term Loan (First Lien), 1/15/21 4.25 01/15/2021 222,062 221,923
Nuance Communications, Inc., 2.75%, 11/1/31 2.75 11/01/2031 1,170,000 1,172,194
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8.25 10/19/2019 800,000 834,700
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 6.75 07/15/2021 2,005,000 2,161,390
Heckler & Koch GmbH, 9.5%, 5/15/18 (144A) 9.5 05/15/2018 100,000 136,849
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 6.875 02/15/2019 825,000 886,674
Alternative Loan Trust 2004-2CB, 5.75%, 3/25/34 5.75 03/25/2034 75,000 141,087
Generac Power Systems, Inc., Term Loan B, 5/31/20 3.25 05/22/2019 707,400 701,800
JP Morgan Mortgage Trust 2005-A7, Floating Rate Note, 7/25/35 2.5833 10/25/2035 2,900,000 158,182
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 5.1 08/15/2038 1,150,000 1,170,432
American Airlines, Inc., Class B Term Loan, 6/27/19 3.75 06/21/2019 346,500 347,335
Iron Mountain, Inc., 5.75%, 8/15/24 5.75 08/15/2024 415,000 426,003
Charter Communications Operating LLC, Term F Loan, 12/31/20 3.0 01/01/2021 495,000 485,056
NCR Corp., 6.375%, 12/15/23 6.375 12/15/2023 775,000 826,876
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 400,000 421,183
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 6.5 07/22/2020 292,369 296,389
Glenn Pool Oil & Gas Trust, Term Loan, 5/2/16 4.5 06/01/2016 36,491 36,582
Multi Packaging Solutions, Inc., Initial Dollar Tranche B Term, 9/30/20 4.25 09/30/2020 249,375 249,894
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 1,645,000 1,748,841
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 9.0 01/29/2019 340,000 380,970
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 3.5203 05/05/2017 1,000,000 999,414
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 7.5 09/15/2020 650,000 722,042
VOLT XXIII LLC, 4.75%, 11/25/53 (Step) 4.75 11/25/2053 2,000,000 2,007,372
Montpelier Re Holdings, Ltd., 4.7%, 10/15/22 4.7 10/15/2022 500,000 522,112
Bank of America Corp., 6.11%, 1/29/37 6.11 01/29/2037 625,000 723,628
Residential Reinsurance 2013, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 9.2804 06/06/2017 250,000 263,922
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 5.75 02/01/2023 980,000 962,435
Arlington Flt% 01aug15   08/01/2015 600,000 609,000
Wastequip LLC, Term Loan, 8/9/19 5.5 08/08/2019 495,000 496,856
RESI Finance LP 2003-D, Floating Rate Note, 12/10/35 (144A) 1.4525 12/10/2035 2,970,000 573,716
LB-UBS Commercial Mortgage Trust 2006-C1, Floating Rate Note, 2/15/41 5.276 02/15/2041 1,963,990 2,026,211
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 4.25 12/07/2019 491,803 492,926
Vita Capital V, Ltd., Floating Rate Note, 1/15/17 (Cat Bond) (144A) 2.7257 01/15/2017 250,000 254,297
Dartmouth Zero% 31dec14 0.0 12/31/2014 1,500,000 1,452,450
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.7864 04/10/2038 1,000,000 1,001,962
Springleaf Funding Trust 2013-A, 5.0%, 9/15/21 (144A) 5.0 09/15/2021 500,000 503,462
Fannie Mae, 4.5%, 9/1/40 4.5 09/01/2040 2,868,485 940,285
ZIGGO BV, (USD) TLB3, 1/15/22   01/15/2022 587,872 578,635
General Motors Financial Co, Inc., 4.25%, 5/15/23 4.25 05/15/2023 125,000 124,090
Sprint Corp., 7.125%, 6/15/24 (144A) 7.125 06/15/2024 1,725,000 1,775,205
ServiceNow, Inc., 0.0%, 11/1/18 (144A) 0.0 11/01/2018 480,000 515,400
Unit Corp., 6.625%, 5/15/21 6.625 05/15/2021 550,000 585,192
Schaeffler Finance BV, 4.75%, 5/15/21 (144A) 4.75 05/15/2021 1,000,000 1,025,028
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.7554 04/10/2038 700,000 729,581
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 6.1462 05/15/2046 1,813,000 1,921,024
Essar Steel Algoma, Inc., Term Loan, 9/19/14 10.25 09/12/2014 122,813 123,334
WR Grace & Co-Conn, Delayed Draw Term Loan, 1/23/21 1.2341 01/23/2021 172,782 172,548
Norcraft Companies LP, Initial Loan, 11/12/20 5.25 11/12/2020 199,000 199,746
Schaeffler Holding Finance BV, 6.875%, 8/15/18 (144A) (PIK) 6.875 08/15/2018 520,000 562,485
MASTR Adjustable Rate Mortgages Trust 2003-6, Floating Rate Note, 12/25/33 2.3968 12/25/2033 30,000,000 582,983
Big Heart Pet Brands, Initial Term Loan, 2/24/20 3.5 02/24/2020 315,512 311,831
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 6.5 12/15/2020 500,000 528,528
Pioneer Energy Services Corp., 6.125%, 3/15/22 (144A) 6.125 03/15/2022 500,000 526,314
INEOS Group Holdings SA, 5.875%, 2/15/19 (144A) 5.875 02/15/2019 600,000 621,960
Cubist Pharmaceuticals, Inc., 1.875%, 9/1/20 (144A) 1.875 09/01/2020 750,000 812,578
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 1,220,000 1,199,667
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 385,000 410,988
COMM 2014-KYO Mortgage Trust, Floating Rate Note, 6/11/27 3.653 06/11/2027 1,400,000 1,405,978
Seminole Hard Rock Entertainment, Inc., New Term Loan B, 5/14/20 3.5 04/29/2020 297,000 296,350
Terex Corp., New U.S. Term Loan (2013), 4/28/17 3.5 04/28/2017 111,057 111,218
BRF SA, 3.95%, 5/22/23 (144A) 3.95 05/22/2023 250,000 236,193
DR Horton, Inc., 5.75%, 8/15/23 5.75 08/15/2023 905,000 978,770
Oversea-Chinese Banking Corp, Ltd., Floating Rate Note, 10/15/24 (144A) 4.0 10/15/2024 425,000 435,229
Penn Virginia Corp., 7.25%, 4/15/19 7.25 04/15/2019 600,000 636,808
Neenah Paper, Inc., 5.25%, 5/15/21 (144A) 5.25 05/15/2021 365,000 369,045
Monitronics International, Inc., 9.125%, 4/1/20 9.125 04/01/2020 785,000 848,127
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 5.0 10/04/2019 890,336 895,066
Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A) 4.2734 05/23/2016 1,000,000 1,016,409
SRAM LLC, Term Loan (First Lien), 4/10/20 4.0 05/12/2018 489,799 486,636
SM Energy Co., 5.0%, 1/15/24 5.0 01/15/2024 455,000 449,186
Ziggo Bv 1st Lien Tl-B1 L + 2.75% 15jan22   01/15/2022 554,681 545,965
MDC Holdings, Inc., 5.5%, 1/15/24 5.5 01/15/2024 1,150,000 1,177,743
Burger King Corp., Tranche B Term Loan (2012), 9/28/19 3.75 09/28/2019 76,635 76,981
Micron Technology, Inc., 5.875%, 2/15/22 (144A) 5.875 02/15/2022 1,025,000 1,097,180
Mueller Water Products, Inc., 7.375%, 6/1/17 7.375 06/01/2017 400,000 409,917
TMX Finance LLC, 8.5%, 9/15/18 (144A) 8.5 09/15/2018 1,035,000 1,131,629
Apex Tool Group LLC, Term Loan, 1/31/20 4.5 02/01/2020 642,246 634,486
Foundation Re III, Ltd., Floating Rate Note, 2/25/15 (Cat Bond) (144A) 5.0 02/25/2015 350,000 355,058
Akorn, Inc., Loan, 11/13/20 4.5 11/13/2020 693,587 696,188
Citicorp Residential Mortgage Trust Series 2007-1, 5.892%, 3/25/37 (Step) 5.892 03/25/2037 125,000 103,747
Longpoint Re, Ltd. III, Floating Rate Note, 5/18/16 (Cat Bond) (144A) 3.96 05/18/2016 500,000 508,161
Altrl Flt% 30jun16   06/30/2016 4,000,000 4,165,200
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 1,190,000 1,314,206
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 16.25 11/10/2015 500,000 524,531
Virginia Resources Authority, 5.0%, 11/1/42 5.0 11/01/2042 1,000,000 1,134,360
Amkor Technology, Inc., 6.375%, 10/1/22 6.375 10/01/2022 285,000 302,456
CST Brands, Inc., 5.0%, 5/1/23 5.0 05/01/2023 1,325,000 1,325,000
Citrus Re, Ltd., Floating Rate Note, 4/24/17 (Cat Bond) (144A) 3.7703 04/24/2017 600,000 594,938
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/36 (144A) 0.325 11/25/2036 9,809,888 422,361
Cme: (Cdx.Na.Hy.22.V2) Usd 20jun19 Z91jjmp14 500.0 06/20/2019 0 -7,646,139
Cme: (Cdx.Na.Ig.22.V1) Usd 20jun19 Z91jeqk49 100.0 06/20/2019 0 -1,262,392
Ooredoo International Finance, Ltd., 3.875%, 1/31/28 (144A) 3.875 01/31/2028 200,000 191,901
Urbi Desarrollos Urbanos SAB de CV, 0.0%, 1/21/20 (144A) 0.0 01/21/2020 200,000 55,028
Calpine Corp., Term Loan (10/12), 10/9/19 4.0 09/27/2019 442,618 443,779
Boart Longyear Management Pty, Ltd., 7.0%, 4/1/21 (144A) 7.0 04/01/2021 315,000 236,906
International Automotive Components Group SA, 9.125%, 6/1/18 (144A) 9.125 06/01/2018 400,000 430,083
Frontier Communications Corp., 9.0%, 8/15/31 9.0 08/15/2031 200,000 221,300
Cepheid, 1.25%, 2/1/21 (144A) 1.25 02/01/2021 545,000 518,261
CHS, 2021 Term D Loan, 1/27/21 4.25 01/27/2021 346,363 347,661
Unison Ground Lease Funding LLC, 5.78%, 3/15/20 (144A) 5.78 03/15/2020 300,000 309,077
JPMorgan Chase & Co., Floating Rate Note (Perpetual) 5.15 12/29/2049 1,525,000 1,461,674
HJ Heinz Co., Term B-2 Loan, 6/5/20 3.5 03/27/2020 396,000 396,495
Kindred Healthcare 1st Lien Tl-B L + 3% 10apr21 4.0 04/10/2021 492,513 492,051
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 6.75 03/15/2023 700,000 710,728
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 6.2168 02/15/2051 1,725,000 1,806,086
AXA SA, 8.6%, 12/15/30 8.6 12/15/2030 250,000 338,997
Countrywide Asset-Backed Certificates, Floating Rate Note, 10/25/35 4.456 10/25/2035 360,000 21,142
Jarden Corp., 1.125%, 3/15/34 (144A) 1.125 03/15/2034 1,290,000 1,279,277
NorthStar 2013-1, Floating Rate Note, 8/27/29 (144A) 5.155 08/25/2029 1,500,000 1,516,504
Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 6.625 04/07/2021 500,000 584,883
KB Home, 7.0%, 12/15/21 7.0 12/15/2021 1,400,000 1,517,522
ConvaTec, Inc., Dollar Term Loan, 12/22/16 4.0 12/01/2016 92,917 93,091
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 5.625 12/15/2016 200,000 202,438
Az Chem Us Inc 1st Lien Tl-B L + 3.5% 09jun21 4.5 06/09/2021 648,046 653,817
JPMorgan Chase & Co., 1.0%, 9/20/17 500.0 12/20/2017 250,000 30,053
Murray Energy Corp., 8.625%, 6/15/21 (144A) 8.625 06/15/2021 650,000 696,164
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 8.5262 01/05/2017 1,000,000 1,062,679
ExGen Renewables I LLC, Term Loan, 2/5/21 5.25 02/05/2021 1,140,409 1,154,664
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 5.85 05/21/2043 1,550,000 1,521,131
Commonwealth of the Bahamas, 5.75%, 1/16/24 (144A) 5.75 01/16/2024 1,700,000 1,810,323
Emergent Biosolutions, Inc., 2.875%, 1/15/21 (144A) 2.875 01/15/2021 1,470,000 1,517,816
Gibraltar Industries, Inc., 6.25%, 2/1/21 6.25 02/01/2021 1,000,000 1,053,750
JAZZ PHARMACEUTICALS INC, Tranche 2 Term Loan, 6/12/18 3.25 06/12/2018 338,905 339,456
Physio-Control International, Inc., 9.875%, 1/15/19 (144A) 9.875 01/15/2019 142,000 156,468
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 6.75 06/15/2021 1,425,000 1,426,603
Meritor, Inc., 6.75%, 6/15/21 6.75 06/15/2021 400,000 427,450
Allied Security Holdings LLC, Delayed Draw Term Loan (First Lien), 2/12/21 3.25 02/12/2021 480,000 478,500
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 10.2825 01/08/2015 250,000 253,382
HLSS Servicer Advance Receivables Trust, 4.4584%, 1/15/48 (144A) 4.4584 01/15/2048 400,000 406,553
Mythen Re, Ltd., Floating Rate Note, 5/7/15 (Cat Bond) (144A) 8.2229 05/07/2015 250,000 263,279
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 5.658 03/15/2045 304,000 313,512
Golar LNG, Ltd., 3.75%, 3/7/17 3.75 03/07/2017 1,400,000 1,949,571
Cascades, Inc., 5.5%, 7/15/22 (144A) 5.5 07/15/2022 1,910,000 1,898,381
Tiers Trust, Floating Rate Note, 10/15/97 (144A) 0.0   100,000 75,590
Harland Clarke Holdings Corp., Tranche B-4 Term Loan, 8/17/19 6.0 08/17/2019 325,875 331,904
GE Business Loan Trust 2005-1, Floating Rate Note, 6/15/33 0.852 06/15/2033 2,500,000 770,106
Kane Flt% 14jul15 0.0 07/14/2015 713,104 676,237
Russian Agricultural Bank OJSC Via RSHB Capital SA, 8.5%, 10/16/23 (144A) 8.5 10/16/2023 1,350,000 1,309,489
Advanced Micro Devices, Inc., 7.5%, 8/15/22 7.5 08/15/2022 445,000 475,965
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 6.75 07/29/2049 1,150,000 1,320,631
Swift Energy Co., 7.875%, 3/1/22 7.875 03/01/2022 1,950,000 2,101,734
HHI Holdings LLC, Additional Term Loan, 10/5/18 5.0 10/05/2018 395,243 397,590
GCI, Inc., 8.625%, 11/15/19 8.625 11/15/2019 458,000 486,949
Shearers Foods Llc 1st Lien Tl L + 3.5% 19jun21   06/19/2021 475,000 474,109
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 100,000 173,732
BioMarin Pharmaceutical, Inc., 1.5%, 10/15/20 1.5 10/15/2020 200,000 211,008
Appvion, Inc., Term Commitment, 6/28/19 5.75 06/04/2019 990,000 1,000,519
Targus Group International, Inc., Term Loan, 5/24/16 12.0 05/12/2016 91,300 77,605
Emdeon, Inc., Term B-2 Loan, 11/2/18 3.75 11/02/2018 779,106 779,398
Fifth Third Bancorp, Floating Rate Note (Perpetual) 6.625 12/31/2049 18,900 508,599
Brit Insurance Holdings BV, Floating Rate Note, 12/9/30 6.625 12/09/2030 850,000 1,527,894
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 500,000 564,094
Ship Midco, Ltd., Facility B2A-II, 11/29/19 5.25 08/06/2017 98,939 99,904
Sierra Timeshare 2011-3 Receivables Funding LLC, 9.31%, 7/20/28 (144A) 9.31 07/20/2028 750,000 252,916
Michaels Stores Inc 1st Lien Tl-B2 L + 3% 28jan20 4.0 01/28/2020 500,000 498,438
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 8.5 03/13/2018 221,514 221,480
Jones Energy Holdings LLC, 6.75%, 4/1/22 (144A) 6.75 04/01/2022 400,000 425,000
Seven Seas Cruises S de RL LLC, 9.125%, 5/15/19 9.125 05/15/2019 200,000 219,853
Metinvest BV, 8.75%, 2/14/18 (144A) 8.75 02/14/2018 1,100,000 966,119
SBP HOLDINGS, Ltd., Term Loan (First Lien), 3/24/21 5.0 03/24/2021 450,000 452,250
New Hampshire Health and Education Facilities Authority Act, 6.5%, 1/1/41 6.5 01/01/2041 150,000 168,427
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 25,000 593,000
RESI Finance LP, Floating Rate Note, 9/10/35 (144A) 1.5525 09/10/2035 1,983,893 393,292
Global Brass & Copper, Inc., 9.5%, 6/1/19 9.5 06/01/2019 500,000 570,417
Intelsat Jackson Holdings SA, Tranche B-2 Term Loan, 6/30/19 3.75 06/30/2019 289,851 289,851
Republic of Ghana, 7.875%, 8/7/23 (144A) 7.875 08/07/2023 1,100,000 1,106,801
Mirabela Nickel, Ltd.     922,916 94,343
Bosphorus 1 Re, Ltd., Floating Rate Note, 5/3/16 (Cat Bond) (144A) 2.5304 05/03/2016 250,000 250,239
Bank of America Corp., 7.25% (Perpetual) 7.25   1,340 1,547,700
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 75,000 86,297
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 600,000 610,850
Wells Fargo Commercial Mortgage Trust 2014-TISH, Floating Rate Note, 1/15/27 3.652 01/15/2027 1,500,000 1,499,522
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 12.7804 12/06/2016 250,000 275,133
Green Plains Inc 1st Lien Tl-B L + 5.5% 03jun20 6.5 06/03/2020 950,000 952,969
CNL Commercial Mortgage Loan Trust 2003-1, Floating Rate Note, 5/15/31 (144A) 0.652 05/15/2031 5,908,000 556,421
WEX, Inc., 4.75%, 2/1/23 (144A) 4.75 02/01/2023 400,000 395,500
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 6.875 06/24/2019 1,605,000 1,616,341
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 4.25 07/01/2021 127,412 127,691
CNL Lifestyle Properties, Inc., 7.25%, 4/15/19 7.25 04/15/2019 600,000 624,808
Confie seguros Holding II Co., Term B Loan (First Lien), 11/9/18 5.75 11/09/2018 792,396 796,358
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 5.25 04/08/2020 206,651 207,900
Intel Corp., 2.95%, 12/15/35 2.95 12/15/2035 200,000 256,504
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 250,000 43,906
Ferrexpo Finance Plc, 7.875%, 4/7/16 (144A) 7.875 04/07/2016 500,000 492,469
Bear Stearns Commercial Mortgage Securities Trust 2007-PWR16, Floating Rate Note, 6/11/40 5.7071 06/11/2040 2,000,000 2,067,412
Axiall Corp., 4.875%, 5/15/23 4.875 05/15/2023 500,000 492,646
VOLT XX LLC, 5.25%, 2/1/39 (Step) (144A) 5.25 02/01/2039 1,500,000 1,508,214
Lion I Re, Ltd., Floating Rate Note, 4/28/17 (Cat Bond) 2.459 04/28/2017 350,000 471,150
Dole Food Co, Inc., Tranche B Term Loan, 10/25/18 4.5002 10/25/2018 990,810 991,632
FREMF Mortgage Trust 2013-K28, 3.494%, 6/25/46 (144A) 3.4944 06/25/2046 1,000,000 955,155
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 1,370,000 1,443,124
Mustang Parent Corp., Initial Dollar Tranche A Term, 9/30/20 4.25 09/30/2020 200,000 200,563
BWAY Holding Co., Initial Term Loan, 8/6/17 4.5 08/06/2017 740,482 743,491
CCO Holdings LLC, 5.75%, 9/1/23 5.75 09/01/2023 475,000 486,380
MedAssets, Inc., Term B Loan, 12/13/19 4.0 11/20/2019 333,573 333,501
Gates Global Llc 1st Lien Tl-B L + 3.25% 12jun21 4.25 06/12/2021 625,000 621,819
Kane Flt% 12jun15   06/12/2015 1,100,000 982,850
IASIS Healthcare LLC, Term B-2 Loan, 5/3/18 4.5 05/03/2018 193,553 194,248
Fannie Mae, 4.0%, 8/12/14 4.0 08/12/2014 22,150,000 23,315,115
Interactive Data 1st Lien Tl-B L + 3.75% 24apr21 4.75 04/24/2021 39,505 39,715
CSM Bakery Solutions LLC, Term Loan (First Lien), 7/3/20 4.75 05/23/2020 866,747 866,386
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 10.625 02/01/2016 475,000 452,734
ViaSat, Inc., 6.875%, 6/15/20 6.875 06/15/2020 100,000 108,378
Lennar Corp., 4.5%, 6/15/19 4.5 06/15/2019 1,175,000 1,181,756
County of York South Carolina, 5.7%, 1/1/24 5.7 01/01/2024 100,000 100,527
Henniges Automotive Holdings Inc 1st Lien Tl-B L + 5% 11jun21 6.0 06/11/2021 1,725,000 1,750,875
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 250,000 266,775
NorthStar 2012-1 Mortgage Trust, Floating Rate Note, 8/25/29 (144A) 4.3984 08/25/2029 300,000 304,458
Springleaf Mortgage Loan Trust, Floating Rate Note, 6/25/58 (144A) 5.58 06/25/2058 250,000 251,093
CenturyLink, Inc., 7.65%, 3/15/42 7.65 03/15/2042 800,000 823,120
Packaging Dynamics Corp., 8.75%, 2/1/16 (144A) 8.75 02/01/2016 272,000 292,714
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 500,000 476,235
Cenveo Corp., 6.0%, 8/1/19 (144A) 6.0 08/01/2019 1,210,000 1,177,733
COBALT CMBS Commercial Mortgage Trust 2007-C2, Floating Rate Note, 4/15/47 (144A) 5.568 04/15/2047 1,200,000 1,247,656
Blackstone Holdings Finance Co LLC, 6.25%, 8/15/42 (144A) 6.25 08/15/2042 750,000 940,605
Key Energy Services, Inc., 6.75%, 3/1/21 6.75 03/01/2021 585,000 613,153
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 0.0 03/30/2019 700,000 720,790
PARTY CITY HOLDINGS INC, 2014 Replacement Term Loan, 7/27/19 4.0 07/27/2019 932,315 926,904
Wendy's International LLC, Term B Loan, 5/15/19 3.25 05/15/2019 750,734 751,136
CAM Mortgage Trust 2014-2, Floating Rate Note, 5/15/48 (144A) 4.45 05/15/2048 400,000 400,349
New World Resources NV, 7.875%, 1/15/21 (144A) 7.875 01/15/2021 300,000 79,064
NEXEO SOLUTIONS LLC, Term B-3 Loan, 9/9/17 5.0 09/09/2017 746,250 749,048
Altair Re, Floating Rate Note, 4/30/16 (Cat Bond) 0.0 04/30/2016 168,360 210,349
Gardner Denver, Inc., Initial Dollar Term Loan, 7/30/20 4.25 07/23/2020 645,747 643,578
Arcelik AS, 5.0%, 4/3/23 (144A) 5.0 04/03/2023 400,000 394,056
Accudyne Industries Borrower SCA, Refinancing Term Loan, 12/13/19 4.0 12/13/2019 719,437 717,807
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 425,000 466,668
Darling Ingredients, Inc., 5.375%, 1/15/22 (144A) 5.375 01/15/2022 1,060,000 1,091,682
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 4.402 10/13/2028 1,400,000 1,404,893
Hologic, Inc., 2.0%, 3/1/42 (Step) 2.0 03/01/2042 1,350,000 1,493,719
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 9.25 06/01/2020 1,000,000 1,110,417
Drug Royalty II LP 2, Floating Rate Note, 7/15/23 (144A) 3.0836 07/15/2023 750,000 740,731
Bombardier, Inc., 6.0%, 10/15/22 (144A) 6.0 10/15/2022 1,462,000 1,461,513
Live Nation Entertainment, Inc., Term B-1 Loan, 8/17/20 3.5 08/16/2020 424,790 425,321
Ventas Realty LP, 4.75%, 6/1/21 4.75 06/01/2021 150,000 165,278
SunPower Corp., 0.875%, 6/1/21 (144A) 0.875 06/01/2021 2,222,000 2,503,839
Merna Reinsurance V, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 2.0355 04/07/2017 500,000 501,189
AES Corp. Virginia, 5.5%, 3/15/24 5.5 03/15/2024 1,500,000 1,503,000
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 5.25 04/25/2032 509,814 128,527
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 7.25 01/15/2018 700,000 732,006
OneBeacon US Holdings, Inc., 4.6%, 11/9/22 4.6 11/09/2022 1,000,000 1,036,269
Laureate Education, Inc., New Series 2018 Extended Term Loan, 6/16/18 5.0 06/16/2018 544,928 529,943
Atlantic Power LP, Term Loan, 2/20/21 4.75 02/20/2021 1,124,961 1,137,617
USI, Inc. New York, Initial Term Loan 2013, 12/30/19 4.25 12/30/2019 197,011 197,298
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 500,000 582,882
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,342,000 1,235,647
MetLife, Inc., 6.4%, 12/15/66 6.4 12/15/2036 300,000 338,693
Aug14 Vix C @ 12   08/20/2014 900 292,500
Kleopatra Acquisition Corp., Term B-1 Loan, 12/21/16 4.75 12/14/2016 181,782 182,918
MasTec, Inc., 4.875%, 3/15/23 4.875 03/15/2023 150,000 149,950
Aegis Toxicology Corp 1st Lien Tl-B L + 4.5% 20feb21 5.5 02/20/2021 225,000 226,688
Surgical Care Affiliates LLC, Class C Incremental Term Loan, 6/29/18 4.0 06/29/2018 544,500 544,160
Truven Health Analytics, Inc., New Tranche B Term Loan, 6/6/19 4.5 05/23/2019 997,475 995,604
NuVasive, Inc., 2.75%, 7/1/17 2.75 07/01/2017 1,300,000 1,512,604
Morgan Stanley, Floating Rate Note (Perpetual) 7.125   18,000 496,080
Aviation Capital Group Corp., 6.75%, 4/6/21 (144A) 6.75 04/06/2021 200,000 229,544
Ukraine Government International Bond, 7.5%, 4/17/23 (144A) 7.5 04/17/2023 200,000 192,333
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 700,000 681,625
Masco Corp., 7.125%, 3/15/20 7.125 03/15/2020 135,000 161,921
First Quantum Minerals, Ltd., 7.25%, 5/15/22 (144A) 7.25 05/15/2022 690,000 720,676
Blackstone Holdings Finance Co LLC, 5.0%, 6/15/44 (144A) 5.0 06/15/2044 300,000 318,951
Basic Energy Services, Inc., 7.75%, 10/15/22 7.75 10/15/2022 280,000 309,489
Sealy Corp., 8.0%, 7/15/16 (PIK) 8.0 07/15/2016 13,100 1,038,175
Citrix Systems, Inc., 0.5%, 4/15/19 (144A) 0.5 04/15/2019 800,000 871,511
Aspen Insurance Holdings, Ltd., Floating Rate Note (Perpetual) 5.95   25,000 622,000
Fitness International Llc 1st Lien Tl-B L + 4.5% 25jun20 5.5 06/25/2020 414,363 413,068
NCR Corp., 5.0%, 7/15/22 5.0 07/15/2022 185,000 183,099
Cardtronics, Inc., 1.0%, 12/1/20 (144A) 1.0 12/01/2020 1,000,000 992,917
inVentiv Health, Inc., Term B-3 Loan, 5/15/18 7.7557 06/24/2018 133,714 133,826
Gestamp Funding Luxembourg SA, 5.625%, 5/31/20 (144A) 5.625 05/31/2020 1,215,000 1,247,843
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 800,000 838,333
Citicorp Residential Mortgage Trust Series 2006-1, 5.939%, 7/25/36 (Step) 5.939 07/25/2036 125,000 92,158
Delta Air Lines 2010-1 Class B Pass Through Trust, 6.375%, 1/2/16 (144A) 6.375 01/02/2016 400,000 426,054
RKI Exploration & Production LLC, 8.5%, 8/1/21 (144A) 8.5 08/01/2021 1,345,000 1,496,313
Endo Finance LLC & Endo Finco, Inc., 5.375%, 1/15/23 (144A) 5.375 01/15/2023 1,375,000 1,333,239
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 4.0203 05/05/2017 1,250,000 1,250,056
Marfrig Holding Europe BV, 8.375%, 5/9/18 (144A) 8.375 05/09/2018 200,000 214,315
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 1,200,000 1,294,000
Lennar Corp., 4.75%, 11/15/22 4.75 11/15/2022 450,000 436,513
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 5.9749 03/15/2049 300,000 317,559
Unifrax I LLC, New Term B Dollar Loan, 11/28/18 4.25 12/31/2019 319,502 319,602
First Data Corp., 2018 New Dollar Term Loan, 3/24/18   03/24/2018 500,000 495,521
Hawaiian Airlines 2013-1 Class A Pass Through Certificates, 3.9%, 1/15/26 3.9 01/15/2026 105,000 104,920
Par Pharmaceutical Companies, Inc., Term B-2 Loan, 9/28/19 4.0 09/28/2019 886,107 885,632
General Electric Capital Corp., Floating Rate Note (Perpetual) 7.125 12/29/2049 1,000,000 1,179,104
The Bank of New York Mellon Corp., Floating Rate Note (Perpetual) 4.5 12/29/2049 1,250,000 1,159,531
Caraustar Industries, Inc., Term Loan, 5/1/19 7.5 04/25/2019 203,936 206,060
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 6.75 10/01/2020 380,000 358,150
Cemex SAB de CV, 5.875%, 3/25/19 (144A) 5.875 03/25/2019 550,000 570,934
West Corp., Term B-10 Loan, 6/30/18 3.25 06/30/2018 366,334 363,521
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 4.5203 04/30/2018 350,000 349,151
AMG Capital Trust II, 5.15%, 10/15/37 5.15 10/15/2037 28,000 1,771,000
Nordion 1st Lien Tl-B L + 3.5% 30jul21   07/30/2021 250,000 249,219
Gator Re, Ltd., Floating Rate Note, 1/9/17 (Cat Bond) (144A) 6.5152 01/09/2017 600,000 597,272
JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP7 REMICS, Floating Rate Note, 4/15/45 6.0597 04/15/2045 1,400,000 1,434,276
Wachovia Bank Commercial Mortgage Trust Series 2006-C28, Floating Rate Note, 10/15/48 5.632 10/15/2048 1,500,000 1,555,264
Rialto Capital Management LLC, 2.85%, 5/15/24 2.85 05/15/2024 1,000,000 782,308
Drillships Financing Holding, Inc., Tranche B-1 Term Loan, 3/31/21 6.0 03/02/2021 990,000 999,900
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,025,000 1,031,677
Swift Transportation Co Llc 1st Lien Tl-B L + 3% 09jun21 3.75 06/09/2021 169,557 170,034
Air Medical Group Holdings, Inc., B-1 Term Loan, 6/30/18 5.0 05/29/2018 248,960 249,893
TAL Advantage V LLC, 4.1%, 2/22/39 4.1 02/22/2039 600,000 579,377
Fannie Mae, 3.5%, 5/1/44 3.5 05/01/2044 6,475,000 6,566,203
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 6.5 05/15/2021 425,000 457,394
Credit Suisse First Boston Mortgage Securities Corp., 4.877%, 4/15/37 4.877 04/15/2037 1,500,000 1,522,724
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 8.7804 06/06/2015 600,000 632,407
Range Resources Corp., 5.0%, 3/15/23 5.0 03/15/2023 400,000 418,556
Hunter Defense Technologies, Inc., Term Loan, 8/22/14 3.48 08/22/2014 139,213 133,993
Buckeye Partners LP, 4.15%, 7/1/23 4.15 07/01/2023 3,500,000 3,608,004
Landry's, Inc., B Term Loan, 4/24/18 4.0 03/22/2018 456,015 457,611
BBVA Banco Continental SA, 5.0%, 8/26/22 (144A) 5.0 08/26/2022 250,000 269,132
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 5.918 09/25/2036 189,000 170,969
MedAssets, Inc., 8.0%, 11/15/18 8.0 11/15/2018 175,000 185,393
Advantage Sales & Marketing Inc 1st Lien Dd L + 3.25% 21jul21 0.5 07/21/2021 15,491 15,438
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 8.25 01/15/2021 1,050,000 1,093,225
JPMorgan Chase & Co., 4.35%, 8/15/21 4.35 08/15/2021 200,000 219,217
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/8/31 (144A) 4.904 05/08/2031 300,000 301,543
Kindred Healthcare, Inc., 6.375%, 4/15/22 (144A) 6.375 04/15/2022 400,000 403,933
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 7.875 04/15/2019 400,000 421,275
Neuberger Berman Group LLC, 5.625%, 3/15/20 (144A) 5.625 03/15/2020 100,000 106,875
Samson Investment Co., Tranche 1 Term Loan (Second Lien), 9/25/18 5.0 09/25/2018 1,000,000 998,929
Transportadora de Gas del Peru SA, 4.25%, 4/30/28 (144A) 4.25 04/30/2028 300,000 283,723
Athlon Holdings LP, 7.375%, 4/15/21 (144A) 7.375 04/15/2021 470,000 510,756
Ardagh Glass Finance Plc, 8.75%, 2/1/20 (144A) 8.75 02/01/2020 600,000 883,477
STORE Master Funding LLC, 4.16%, 3/20/43 (144A) 4.16 03/20/2043 200,000 199,497
Syniverse Holdings, Inc., Initial Term Loan, 4/23/19 4.0 04/10/2019 239,957 239,919
Husky Injection Molding Systems Lt 1st Lien Tl-B L + 3.25% 30jun21   06/30/2021 700,000 702,185
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 4.0 03/01/2020 518,322 515,731
BBVA Bancomer SA Texas, 6.5%, 3/10/21 (144A) 6.5 03/10/2021 400,000 460,183
NRG Energy, Inc., 7.625%, 1/15/18 7.625 01/15/2018 900,000 1,002,050
Beverage Packaging Holdings Luxembourg II SA, 6.0%, 6/15/17 (144A) 6.0 06/15/2017 300,000 300,425
Corsicanto, Ltd., 3.5%, 1/15/32 3.5 01/15/2032 1,250,000 990,226
Post Holdings, Inc., 7.375%, 2/15/22 7.375 02/15/2022 200,000 219,801
Sourcehov LLC, Term B Loan (First Lien), 4/30/18 5.25 04/30/2018 495,000 499,538
Waupaca Foundry, Inc., Term Loan, 6/29/17 4.0 06/29/2017 598,524 599,835
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 5.718 01/25/2033 400,000 64,015
Quebecor Media, Inc., 5.75%, 1/15/23 5.75 01/15/2023 1,325,000 1,347,985
Stanley Black & Decker, Inc., Floating Rate Note, 12/15/53 5.75 12/15/2053 600,000 654,283
GS Mortgage Securities Corp II Series 2004-GG2, Floating Rate Note, 8/10/38 5.9762 08/10/2038 200,000 200,769
QBE Insurance Group, Ltd., 2.4%, 5/1/18 (144A) 2.4 05/01/2018 200,000 200,228
Advanced Micro Devices, Inc., 6.75%, 3/1/19 (144A) 6.75 03/01/2019 1,095,000 1,154,198
Rosetta Resources, Inc., 5.625%, 5/1/21 5.625 05/01/2021 515,000 526,105
Citigroup, Inc., Floating Rate Note (Perpetual) 5.95 12/29/2049 500,000 498,583
Enel Finance International NV, 5.125%, 10/7/19 (144A) 5.125 10/07/2019 150,000 170,212
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 5.55 10/28/2020 500,000 505,919
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 9.25 01/24/2020 750,000 689,474
Aug14 Vix C @ 12.5   08/20/2014 900 258,750
Southern California Edison Co., Floating Rate Note (Perpetual) 6.25 08/01/2049 75,000 83,719
Chemtura Corp., 5.75%, 7/15/21 5.75 07/15/2021 930,000 950,977
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 7.4015 02/13/2015 250,000 257,187
Banc of America Commercial Mortgage Trust 2007-5, Floating Rate Note, 2/10/51 6.1931 02/10/2051 1,250,000 1,257,802
OAS Finance, Ltd., 8.0%, 7/2/21 (144A) 8.0 07/02/2021 860,000 863,392
Monitronics International, Inc., Term B Loan (2013), 3/23/18 4.25 03/23/2018 558,519 558,955
Livingston International, Inc., Initial Term B-1 Loan (First Lien), 4/18/19 5.0 04/18/2019 717,750 719,245
Legg Mason, Inc., 3.95%, 7/15/24 3.95 07/15/2024 1,250,000 1,267,453
Vericrest Opportunity Loan Transferee 2014-NPL4 LLC, 4.0%, 4/27/54 (Step) (144A) 4.0 04/27/2054 750,000 742,969
LB-UBS Commercial Mortgage Trust 2005-C2, Floating Rate Note, 4/15/40 5.3754 04/15/2040 1,000,000 1,028,742
SAFENET, INC., Term Loan (First Lien), 2/28/20 5.5 02/28/2020 934,658 939,331
Audio Visual Services Corp., Initial Term Loan (First Lien), 1/24/21 4.5 01/24/2021 114,713 114,892
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.9653 05/15/2046 220,000 185,793
Orange Lake Timeshare Trust 2012-A, 4.87%, 3/10/27 (144A) 4.87 03/10/2027 600,000 330,633
Genpact International, Inc., Term Loan, 8/30/19 3.5 08/17/2019 321,630 323,238
New Albertsons Inc 1st Lien Tl L + 3.75% 24jun21 4.75 06/24/2021 400,000 401,698
Garda World Security Corp., Term B Loan, 11/1/20 4.0 11/01/2020 205,391 205,134
Loma Reinsurance, Ltd. Bermuda, Floating Rate Note, 1/8/18 (Cat Bond) (144A) 9.7625 01/08/2018 500,000 513,150
The Hanover Insurance Group, Inc., 6.35%, 3/30/53 6.35 03/30/2053 40,000 972,800
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 500,000 568,125
Accredited Mortgage Loan Trust 2003-3, 5.21%, 1/25/34 (Step) 5.21 01/25/2034 8,190,000 1,185,072
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 6.25 12/18/2019 1,890,500 1,910,587
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 5.0 01/15/2018 766,550 769,808
GTP Acquisition Partners I LLC, 7.628%, 6/15/16 (144A) 7.628 06/15/2016 500,000 533,627
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 4.4 04/15/2019 150,000 151,539
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 8.6152 04/08/2016 1,000,000 1,037,733
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 335,000 330,498
Citicorp Residential Mortgage Trust Series 2006-2, 5.948%, 9/25/36 (Step) 5.948 09/25/2036 1,900,000 929,975
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 2,500 262,625
TIBCO Software, Inc., 2.25%, 5/1/32 2.25 05/01/2032 1,245,000 1,264,453
Seadrill Operating LP, Initial Term Loan, 2/14/21 4.0 02/14/2021 845,750 837,358
Del Monte Foods, Inc., Initial Loan (First Lien), 11/26/20 4.252 11/26/2020 500,000 496,953
ORES 2014-LV3 LLC, 6.0%, 3/27/24 6.0 03/27/2024 1,000,000 999,396
MGM Resorts International, 4.25%, 4/15/15 4.25 04/15/2015 550,000 823,289
Wynn Las Vegas LLC, 4.25%, 5/30/23 (144A) 4.25 05/30/2023 205,000 194,176
City of Charlotte North Carolina, 5.6%, 7/1/27 5.6 07/01/2027 1,250,000 1,256,221
Guggenheim Partners Investment Management Holdings LLC, Initial Term Loan, 7/22/20 4.25 07/09/2020 446,625 446,904
Tradewynd Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 6.2703 01/08/2015 250,000 250,470
Citigroup, Inc., Floating Rate Note (Perpetual) 7.125   63,000 1,720,530
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 7.375 02/01/2020 300,000 326,063
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 8.375 09/30/2020 1,518,000 1,557,374
Fidelity National Financial, Inc., 5.5%, 9/1/22 5.5 09/01/2022 250,000 277,669
CNO Financial Group, Inc., 6.375%, 10/1/20 (144A) 6.375 10/01/2020 650,000 707,688
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 1,300,000 1,282,143
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 2.25 05/15/2041 1,480,000 1,398,230
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.0304 06/06/2015 1,250,000 1,308,500
TAL Advantage V LLC, 3.97%, 5/20/39 3.97 05/20/2039 1,000,000 991,139
Post Holdings, Inc., 2.5% (Perpetual) (144A) 2.5 12/31/2049 11,800 1,084,863
The Ryland Group, Inc., 0.25%, 6/1/19 0.25 06/01/2019 2,000,000 1,843,333
JMC Steel Group, Inc., Term Loan, 4/1/17 4.75 02/15/2017 394,042 395,510
Equinix, Inc., 7.0%, 7/15/21 7.0 07/15/2021 50,000 54,656
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 5.875 06/24/2019 405,000 419,676
Hercules Offshore, Inc., 8.75%, 7/15/21 (144A) 8.75 07/15/2021 905,000 924,357
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 3.75 06/30/2019 295,142 294,644
Progreso Receivables Funding II LLC, 6.0%, 7/8/19 (144A) 6.0 07/08/2019 500,000 502,583
SUAM Finance BV, 4.875%, 4/17/24 (144A) 4.875 04/17/2024 500,000 510,792
Brookfield Residential Properties, Inc., 6.125%, 7/1/22 (144A) 6.125 07/01/2022 280,000 288,429
MGM Resorts International, Term B Loan, 12/20/19 3.5 12/13/2019 265,950 264,731
Auxilium Pharmaceuticals, Inc., 1.5%, 7/15/18 1.5 07/15/2018 1,668,000 1,777,532
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 7.0 05/15/2018 1,365,000 1,450,009
Sirius XM Radio, Inc., 4.625%, 5/15/23 (144A) 4.625 05/15/2023 770,000 719,713
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 5.3321 02/13/2046 500,000 485,624
US Bancorp, Floating Rate Note (Perpetual) 6.5   12,250 347,410
Endo Finance LLC, 5.75%, 1/15/22 (144A) 5.75 01/15/2022 375,000 374,083
Cosan Luxembourg SA, 5.0%, 3/14/23 (144A) 5.0 03/14/2023 240,000 231,367
BioMarin Pharmaceutical, Inc., 0.75%, 10/15/18 0.75 10/15/2018 200,000 205,192
UBS AG, 7.625%, 8/17/22 7.625 08/17/2022 1,050,000 1,284,868
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 7.25 04/03/2024 2,600,000 2,746,286
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3.5 03/01/2021 990,000 1,173,123
CAM Mortgage Trust 2014-1, 5.5%, 12/15/53 (Step) (144A) 5.5 12/15/2053 750,000 750,740
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 8.75 05/15/2018 750,000 1,045,593
USI, Inc. New York, 7.75%, 1/15/21 (144A) 7.75 01/15/2021 500,000 497,972
Salix Pharmaceuticals, Ltd., Term Loan, 12/17/19 4.25 12/17/2019 170,625 171,611
Dana Holding Corp., 6.0%, 9/15/23 6.0 09/15/2023 830,000 884,088
Deluxe Entertainment Services Group, Inc., Initial Term Loan, 2/26/20 6.5 02/26/2020 422,344 422,213
EV Energy Partners LP, 8.0%, 4/15/19 8.0 04/15/2019 1,150,000 1,228,839
CS Intermediate Holdco 2 LLC, Term Loan, 3/28/21 4.0 03/28/2021 650,000 649,188
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 330,000 370,601
DigitalGlobe, Inc., 5.25%, 2/1/21 5.25 02/01/2021 865,000 869,325
Private Colleges & Universities Authority, 5.0%, 10/1/43 5.0 10/01/2043 1,000,000 1,134,207
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 8.5 10/15/2022 210,000 235,731
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 100,000 112,053
AXIS Equipment Finance Receivables II LLC, 6.41%, 10/22/18 6.41 10/22/2018 250,000 253,541
Sappi Papier Holding GmbH, 6.625%, 4/15/21 (144A) 6.625 04/15/2021 400,000 430,803
Fannie Mae, 4.5%, 9/1/39 4.5 09/01/2039 2,945,000 1,388,854
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 490,000 512,317
Boart Longyear Management Pty, Ltd., 10.0%, 10/1/18 (144A) 10.0 10/01/2018 495,000 535,013
Fannie Mae, 4.5%, 8/12/14 4.5 08/12/2014 8,250,000 8,893,823
CD 2005-CD1 Commercial Mortgage Trust, Floating Rate Note, 7/15/44 5.3993 07/15/2044 2,500,000 2,537,268
Verizon Communications, Inc., 4.15%, 3/15/24 4.15 03/15/2024 3,500,000 3,675,774
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 5.25 01/29/2049 1,500,000 1,524,633
Neiman Marcus Group, Ltd. LLC, Other Term Loan, 10/25/20 4.25 10/25/2020 363,177 361,974
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 8.9304 12/06/2015 250,000 261,586
TimberStar Trust 1, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 30,000 31,947
KB Home, 8.0%, 3/15/20 8.0 03/15/2020 200,000 232,544
Conseco Financial Corp., 6.18%, 4/1/30 6.18 04/01/2030 2,201,000 241,952
Hercules Offshore, Inc., 6.75%, 4/1/22 (144A) 6.75 04/01/2022 965,000 891,117
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 7.4325 01/09/2017 1,000,000 1,024,728
Aircastle, Ltd., 6.25%, 12/1/19 6.25 12/01/2019 200,000 216,583
Seven Seas Cruises S de RL LLC, Term B2 Loan, 12/21/18 3.75 12/21/2018 464,195 463,905
American Energy Partners Inc L + 7.75% 17jun15   06/17/2015 3,170,000 3,170,000
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 5.25 04/25/2032 2,500,000 778,917
Fannie Mae, 4.0%, 5/1/44 4.0 05/01/2044 4,304,445 4,514,394
Xerium Technologies, Inc., 8.875%, 6/15/18 8.875 06/15/2018 798,000 854,930
Constellation Brands, Inc., 3.75%, 5/1/21 3.75 05/01/2021 470,000 462,656
Kenya Government International Bond, 6.875%, 6/24/24 (144A) 6.875 06/24/2024 875,000 934,951
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 11.2825 01/08/2015 250,000 253,822
Legacy Reserves LP, 6.625%, 12/1/21 (144A) 6.625 12/01/2021 1,300,000 1,317,604
KGHM International, Ltd., 7.75%, 6/15/19 (144A) 7.75 06/15/2019 325,000 350,156
PetroQuest Energy, Inc., 10.0%, 9/1/17 10.0 09/01/2017 500,000 542,083
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 1,431,875 1,446,194
US Airways, Inc., Tranche B-1 Term Loan (Consenting), 5/23/19 3.5 05/23/2019 612,563 610,265
TurboCombustor Technology, Inc., Initial Term Loan, 10/18/20 5.5 10/18/2020 547,250 551,696
Gannett Co, Inc., 6.375%, 10/15/23 (144A) 6.375 10/15/2023 1,620,000 1,739,509
Altisource Solutions Sarl, Term B Loan, 12/9/20 4.5 12/09/2020 1,139,647 1,139,647
Intelsat Jackson Holdings SA, 6.625%, 12/15/22 6.625 12/15/2022 450,000 458,309
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 6.5 04/15/2021 190,000 196,961
KKR Group Finance Co II LLC, 5.5%, 2/1/43 (144A) 5.5 02/01/2043 1,150,000 1,282,029
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 500,000 546,879
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 6.375 09/01/2024 1,500,000 1,679,531
Affinion Group, Inc., Tranche B Term Loan, 10/9/16 6.75 10/09/2016 968,936 962,375
Offshore Group Investment, Ltd., 7.5%, 11/1/19 7.5 11/01/2019 600,000 629,250
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 525,000 544,469
Qwest Corp., 7.375%, 6/1/51 7.375 06/01/2051 4,400 115,324
Wells Fargo & Co., 7.5% (Perpetual) 7.5   1,050 1,270,500
Instituto Costarricense de Electricidad, 6.375%, 5/15/43 (144A) 6.375 05/15/2043 1,000,000 903,458
Queen Street VIII Re, Ltd., Floating Rate Note, 6/8/16 (Cat Bond) (144A) 6.5175 06/08/2016 250,000 252,371
Nara Cable Funding II, Ltd., 8.5%, 3/1/20 (144A) 8.5 03/01/2020 100,000 163,847
Booz Allen Hamilton, Inc., Refinance Tranche B, 7/31/19 3.75 07/31/2019 124,031 124,403
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 100,000 99,574
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 5.7804 12/06/2016 600,000 626,427
Citigroup Capital XIII, Floating Rate Note, 10/30/40 7.875 10/30/2040 54,200 1,468,278
Wilton Re Finance LLC, Floating Rate Note, 3/30/33 (144A) 5.875 03/30/2033 165,000 175,271
WF-RBS Commercial Mortgage Trust 2011-C2, Floating Rate Note, 2/15/44 (144A) 5.6471 02/15/2044 100,000 106,221
ONEOK, Inc., 6.875%, 9/30/28 6.875 09/30/2028 1,450,000 1,638,700
Continental Airlines 2001-1 Class B Pass Through Trust, 7.373%, 12/15/15 7.373