Pioneer Investments: Pioneer Dynamic Credit Fund


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Pioneer Dynamic Credit Fund

Monthly Portfolio Holdings as of 2/27/2015

Security Name Coupon Maturity Date Par / Shares Market Value($)
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 500,000 376,717
DynCorp International, Inc., 10.375%, 7/1/17 10.375 07/01/2017 150,000 138,589
14112z Zero% 01feb19 0.0 02/01/2019 2,000,000 2,054,200
GS Mortgage Securities Corp Trust 2014-NEW, 3.79%, 1/10/31 (144A) 3.79 01/10/2031 1,000,000 974,938
Rural, Term Loan, 6/30/18 8.0 06/30/2018 86,479 81,938
Calpine Corp., Term Loan (10/12), 10/9/19 4.0 10/09/2019 440,365 441,053
Valeant Pharmaceuticals International, Inc., Series C-2 Tranche B Term Loan, 12/11/19 3.5 12/11/2019 298,478 298,291
Wheelabrator 1st Lien Tl-B L + 4% 15oct21 5.0 10/15/2021 1,915,709 1,936,063
Citigroup, Inc., Floating Rate Note (Perpetual) 5.95 12/31/2049 640,000 650,962
Tenet Healthcare Corp., 4.375%, 10/1/21 4.375 10/01/2021 1,480,000 1,492,102
Bear Stearns ALT-A Trust 2003-3, Floating Rate Note, 10/25/33 2.0585 10/25/2033 23,000,000 144,699
Air Canada 2013-1 Class C Pass Through Trust, 6.625%, 5/15/18 (144A) 6.625 05/15/2018 500,000 532,702
Caraustar Industries, Inc., Term Loan, 5/1/19 8.0 05/01/2019 202,871 198,814
SRAM LLC, Term Loan (First Lien), 4/10/20 4.0162 04/10/2020 648,990 648,990
Denbury Resources, Inc., 4.625%, 7/15/23 4.625 07/15/2023 910,000 820,615
Covanta Holding Corp., 5.875%, 3/1/24 5.875 03/01/2024 1,130,000 1,207,841
US Airways, Inc., Tranche B-1 Term Loan (Consenting), 5/23/19 3.5 05/23/2019 612,563 610,648
Green Plains Inc 1st Lien Tl-B L + 5.5% 03jun20 6.5 06/03/2020 902,606 864,245
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 7.25 04/03/2024 1,600,000 1,678,722
Vers 2015-A Zero% 31dec17 0.0 12/31/2017 2,000,000 2,015,600
Virgin Media Secured Finance Plc, 5.375%, 4/15/21 (144A) 5.375 04/15/2021 500,000 538,679
Prestige Brands, Inc., Term B-1 Loan, 1/31/19 4.125 01/31/2019 247,582 247,891
FREMF Mortgage Trust 2013-K28, Floating Rate Note, 6/25/46 (144A) 3.4944 06/25/2046 1,000,000 977,856
La Hipotecaria Panamanian Mortgage Trust 2007-1, Floating Rate Note, 12/23/36 (144A) 4.25 12/23/2036 1,800,000 827,500
Buckeye Partners LP, 4.15%, 7/1/23 4.15 07/01/2023 1,750,000 1,750,255
Swift Energy Co., 7.875%, 3/1/22 7.875 03/01/2022 1,635,000 864,455
Approach Resources, Inc., 7.0%, 6/15/21 7.0 06/15/2021 1,520,000 1,408,576
inVentiv Health, Inc., Term B-3 Loan, 5/15/18 7.75 05/15/2018 132,691 131,696
JP Morgan Mortgage Trust 2005-A7, Floating Rate Note, 7/25/35 2.5543 07/25/2035 2,900,000 153,579
Reliance Steel & Aluminum Co., 4.5%, 4/15/23 4.5 04/15/2023 1,940,000 1,982,891
Morgan Stanley Capital I Trust 2007-TOP25, Floating Rate Note, 11/12/49 5.574 11/12/2049 1,500,000 1,548,106
GLC Trust 2013-1, 3.0%, 7/15/21 (144A) 3.0 07/15/2021 1,500,000 1,123,975
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 5.78 03/16/2043 300,000 303,242
Structured Asset Mortgage Investments Trust 2003-AR1, Floating Rate Note, 10/19/33 1.6735 10/19/2033 3,319,800 111,339
Sierra Timeshare 2011-3 Receivables Funding LLC, 9.31%, 7/20/28 (144A) 9.31 07/20/2028 750,000 192,359
Apex Tool Group LLC, Term Loan, 1/31/20 4.5 01/31/2020 638,994 625,948
Crossmark Holdings, Inc., Term Loan (First Lien), 12/20/19 4.5 12/20/2019 196,123 192,364
Iap Worldwide Services Inc     4 2,697
Prestige Brands, Inc., Term B-2 Loan, 8/18/21 4.5 08/18/2021 930,556 933,115
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 485,000 510,695
BioScrip, Inc., Initial Term B Loan, 7/31/20 6.5 07/31/2020 487,281 487,890
NeuStar, Inc., 4.5%, 1/15/23 4.5 01/15/2023 675,000 597,628
Atlantic Power LP, Term Loan, 2/20/21 4.75 02/20/2021 1,474,789 1,482,163
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 25,000 634,000
ML-CFC Commercial Mortgage Trust 2006-3, Floating Rate Note, 7/12/46 5.485 07/12/2046 1,400,000 1,434,465
Genpact International, Inc., Term Loan, 8/30/19 3.5 08/30/2019 320,006 320,166
Polarpak, Inc., USD Term Loan (U.S. Borrower Portion), 6/7/20 4.5 06/07/2020 232,502 231,340
Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A) 8.5 05/15/2020 700,000 845,336
Laureate Education, Inc., New Series 2018 Extended Term Loan, 6/16/18 5.0 06/16/2018 542,136 510,963
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.0152 06/06/2015 1,250,000 1,296,125
United Continental Holdings, Inc., 6.0%, 7/15/26 6.0 07/15/2026 1,475,000 1,470,821
Charter Communications 1st Lien Tl-B L + 3.5% 12aug21 4.25 08/12/2021 390,000 393,358
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 1,305,000 1,309,078
Banc of America Mortgage Trust 2004-2, 5.5%, 3/25/34 5.5 03/25/2034 212,565 70,476
Arlington Flt% 01aug15 0.0 08/01/2015 600,000 662,220
CAM Mortgage Trust 2014-2, Floating Rate Note, 5/15/48 (144A) 4.45 05/15/2048 400,000 402,643
Springs Industries, Inc., 6.25%, 6/1/21 6.25 06/01/2021 400,000 397,042
Key Energy Services, Inc., 6.75%, 3/1/21 6.75 03/01/2021 355,000 248,966
Multi Packaging Solutions, Inc., Initial Dollar Tranche B Term, 9/30/20 4.25 09/30/2020 248,125 246,884
RTI International Metals, Inc., 1.625%, 10/15/19 1.625 10/15/2019 385,000 381,777
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 975,000 1,005,903
JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP7 REMICS, Floating Rate Note, 4/15/45 5.8755 04/15/2045 1,400,000 1,402,263
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 6.7525 05/23/2019 172,375 172,590
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 4.0 03/01/2020 0 0
COMM 2006-C8 Mortgage Trust, 5.377%, 12/10/46 5.377 12/10/2046 2,000,000 2,036,396
Air Medical Group Holdings, Inc., B-1 Term Loan, 6/30/18 5.0 06/30/2018 247,919 248,694
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 5.58 06/25/2058 250,000 259,090
Fly Funding II Sarl, Loan, 8/8/18 4.5 08/08/2018 715,577 716,472
Bayview Commercial Asset Trust 2005-2, Floating Rate Note, 8/25/35 (144A) 0.481 08/25/2035 1,400,000 293,773
The Williams Companies, Inc., 7.75%, 6/15/31 7.75 06/15/2031 100,000 113,804
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 4.1512 04/30/2018 350,000 354,988
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 5.125 08/01/2022 1,000,000 982,594
Wendy's International LLC, Term B Loan, 5/15/19 3.25 05/15/2019 746,942 746,359
Merna Re V, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 2.0152 04/07/2017 500,000 501,189
Capella Healthcare, Inc., 9.25%, 7/1/17 9.25 07/01/2017 200,000 210,929
Navistar, Inc., Tranche B Term Loan, 8/17/17 5.75 08/17/2017 120,000 120,824
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 1,190,000 1,255,673
CS Intermediate Holdco 2 LLC, Term Loan, 3/28/21 4.0 03/28/2021 646,750 644,406
Oasis Petroleum, Inc., 6.875%, 3/15/22 6.875 03/15/2022 500,000 505,564
Wastequip LLC, Term Loan, 8/9/19 5.5 08/09/2019 492,500 490,653
Crown Castle 1st Lien Term-B2 L + 2.5% 31jan21 3.0 01/31/2021 652,150 651,009
Berkeley-Kane Flt% 12jun15   06/12/2015 1,004,200 1,046,577
Copano Energy LLC, 7.125%, 4/1/21 7.125 04/01/2021 373,000 414,268
TurboCombustor Technology, Inc., Initial Term Loan, 10/18/20 5.5 10/18/2020 544,500 545,181
Oversea-Chinese Banking Corp, Ltd., Floating Rate Note, 10/15/24 (144A) 4.0 10/15/2024 425,000 445,751
Delta Air Lines, Inc., 2014 Term B-1 Loan, 10/18/18 3.25 10/18/2018 171,500 171,714
Lehman Brothers Small Balance Commercial Mortgage Trust 2006-3, Floating Rate Note, 12/25/36 (144A) 0.371 12/25/2036 3,184,259 686,286
Seagate HDD Cayman, 4.75%, 6/1/23 4.75 06/01/2023 885,000 952,725
HLSS Servicer Advance Receivables Trust, 4.4584%, 1/15/48 (144A) 4.4584 01/15/2048 400,000 394,111
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 7.5043 03/01/2022 200,000 183,831
Dtz Us Borrower Llc 1st Lien Tl L + 4.5% 28oct21 5.5 10/28/2021 1,662,513 1,671,865
MacDermid, Inc., Tranche B Term Loan (First Lien), 6/7/20 4.5 06/07/2020 1,435,731 1,443,448
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 6.0097 02/15/2051 1,725,000 1,762,689
AECOM, 5.75%, 10/15/22 (144A) 5.75 10/15/2022 635,000 679,565
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 100,000 107,527
Bright Horizons Family Solutions, Inc., Term B Loan, 1/30/20 3.75 01/30/2020 789,237 789,977
CSM Bakery Solutions LLC, Term Loan (First Lien), 7/3/20 5.0 07/03/2020 0 0
SandRidge Energy, Inc., 7.5%, 2/15/23 7.5 02/15/2023 700,000 502,396
ONEOK, Inc., 6.875%, 9/30/28 6.875 09/30/2028 1,450,000 1,702,897
Banc of America Commercial Mortgage Trust 2007-5, Floating Rate Note, 2/10/51 5.9902 02/10/2051 1,250,000 1,277,110
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 5.459 07/12/2044 113,538 128,209
Cardtronics, Inc., 1.0%, 12/1/20 1.0 12/01/2020 1,000,000 981,167
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 5.7383 01/25/2033 450,000 56,174
MedAssets, Inc., Term B Loan, 12/13/19 4.0 12/13/2019 330,801 329,660
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 4.25 07/01/2021 126,775 126,881
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 340,000 530,762
Sotheby's, 5.25%, 10/1/22 (144A) 5.25 10/01/2022 1,135,000 1,133,794
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 4.7652 04/30/2018 650,000 666,414
Hawaiian Airlines 2013-1 Class A Pass Through Certificates, 3.9%, 1/15/26 3.9 01/15/2026 105,000 103,099
Gibraltar Industries, Inc., 6.25%, 2/1/21 6.25 02/01/2021 1,000,000 1,024,688
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 5.25 04/08/2020 205,615 204,587
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3.5 03/01/2021 990,000 465,011
Tribune Media Co., Initial Term Loan, 11/20/20 4.0 11/20/2020 500,000 500,938
WESCO Distribution, Inc., Tranche B-1 Loan, 12/12/19 3.75 12/12/2019 165,030 165,082
Rosetta Resources, Inc., 5.875%, 6/1/22 5.875 06/01/2022 665,000 647,842
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.63 10/12/2017 2,000,000 267,585
Level 3 Financing Inc 1st Lien Tl-B5 L + 3.5% 31jan22 4.5 01/31/2022 1,000,000 1,006,042
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 6.75 04/30/2018 964,079 921,298
The Ryland Group, Inc., 5.375%, 10/1/22 5.375 10/01/2022 95,000 95,660
CHS, 2021 Term D Loan, 1/27/21 4.25 01/27/2021 344,622 345,986
Kane Flt% 14jul15 0.0 07/14/2015 713,104 698,557
CD 2005-CD1 Commercial Mortgage Trust, Floating Rate Note, 7/15/44 5.2258 07/15/2044 2,500,000 2,523,973
JMC Steel Group, Inc., Term Loan, 4/1/17 4.75 04/01/2017 392,009 389,886
Blackstone Holdings Finance Co LLC, 5.0%, 6/15/44 (144A) 5.0 06/15/2044 300,000 331,021
Mar15 Vix C @ 17.000000   03/18/2015 500 43,750
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 300,000 234,471
Emdeon, Inc., Term B-2 Loan, 11/2/18 3.75 11/02/2018 775,912 776,073
Vantiv LLC, Term B Loan, 6/12/21 3.75 06/12/2021 328,075 327,870
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 533,600 534,400
American Airlines Inc 1st Lien Tl-B L + 3.5% 08oct21 4.25 10/08/2021 175,000 176,272
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 7.5051 04/09/2015 750,000 763,175
Metinvest BV, 8.75%, 2/14/18 (144A) 8.75 02/14/2018 500,000 177,482
Silver Bay Realty 2014-1 Trust, Floating Rate Note, 9/18/31 (144A) 3.422 09/18/2031 1,200,000 1,191,268
United Airlines, Inc., Class B Term Loan, 4/1/19 3.5 04/01/2019 245,625 244,796
ZIGGO BV, (USD) TLB3, 1/15/22 3.5 01/15/2022 587,872 583,621
Salix Pharmaceuticals, Ltd., Term Loan, 12/17/19 4.25 12/17/2019 166,250 166,370
RSP Permian, Inc., 6.625%, 10/1/22 (144A) 6.625 10/01/2022 1,075,000 1,111,789
Aircastle, Ltd., 6.25%, 12/1/19 6.25 12/01/2019 600,000 672,783
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 6/25/33 5.4456 06/25/2033 1,749,811 330,513
Ziggo Bv 1st Lien Tl-B1 L + 2.75% 15jan22 3.5 01/15/2022 554,681 550,669
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 705,000 728,353
Samson Investment Co., Tranche 1 Term Loan (Second Lien), 9/25/18 5.0 09/25/2018 178,082 113,639
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 6.75 03/15/2023 700,000 707,539
Alkermes, Inc., 2019 Term Loan, 9/25/19 3.5 09/25/2019 687,943 685,077
Frontier Communications Corp., 9.0%, 8/15/31 9.0 08/15/2031 200,000 216,650
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 5.75 12/15/2018 680,000 667,529
Darling Ingredients, Inc., 5.375%, 1/15/22 5.375 01/15/2022 1,060,000 1,077,405
Xerium Technologies, Inc., 8.875%, 6/15/18 8.875 06/15/2018 798,000 844,281
AXIS Equipment Finance Receivables II LLC, 6.41%, 10/22/18 (144A) 6.41 10/22/2018 250,000 253,658
Energy & Exploration Partners, Inc., 8.0%, 7/1/19 (144A) 8.0 07/01/2019 1,520,000 612,053
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 250,000 238,849
Syncreon Group BV, Term Loan, 9/26/20 5.25 09/26/2020 696,482 687,776
Fifth Third Bancorp, Floating Rate Note (Perpetual) 6.625 12/31/2049 14,900 413,177
Targus Group International, Inc., Term Loan, 5/24/16 13.9839 05/24/2016 4 4
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 5.25 12/31/2049 1,000,000 1,064,229
Old HB, Inc., Term B Loan, 4/9/20 6.75 04/09/2020 674,900 689,242
Fannie Mae, 0.5%, 12/15/33 0.5 12/15/2033 1,265,000 1,253,633
Transnet SOC, Ltd., 4.0%, 7/26/22 (144A) 4.0 07/26/2022 325,000 317,218
Drug Royalty II LP 2, Floating Rate Note, 7/15/23 (144A) 3.1033 07/15/2023 750,000 716,043
Bankrate, Inc., 6.125%, 8/15/18 (144A) 6.125 08/15/2018 1,150,000 1,155,419
Steel Dynamics, Inc., 5.125%, 10/1/21 (144A) 5.125 10/01/2021 930,000 975,625
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 2,500 297,200
Bank of America Corp., Floating Rate Note, 10/23/49 6.5 10/23/2049 500,000 541,128
Pinnacle Foods Finance LLC, New Term Loan G, 4/29/20 3.0 04/29/2020 172,960 172,571
Brit Insurance Holdings BV, Floating Rate Note, 12/9/30 6.625 12/09/2030 850,000 1,409,870
New World Resources NV, 4.0%, 10/7/20 (PIK) 4.0 10/07/2020 67,741 31,373
JP Morgan Chase Commercial Mortgage Securities Trust 2014-FBLU REMICS, Floating Rate Note, 12/15/28 3.673 12/15/2028 1,100,000 1,101,348
Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A) 7.25 04/01/2019 1,960,000 1,248,724
Unifrax I LLC, New Term B Dollar Loan, 11/28/18 4.25 11/28/2018 317,900 316,178
FCI - FIDJI LUXEMBOURG BC4 SARL, Term Loan, 12/19/20 6.25 12/19/2020 404,250 405,513
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 9.75 12/12/2017 18,617 18,431
Cenveo Corp., 6.0%, 8/1/19 (144A) 6.0 08/01/2019 1,210,000 1,145,870
RCMC LLC, 5.62346%, 12/17/18 (144A) 5.6235 12/17/2018 250,000 124,890
COMM 2012-CCRE2 Mortgage Trust, Floating Rate Note, 8/17/45 (144A) 4.8574 08/17/2045 100,000 104,063
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 3.5425 05/05/2017 1,000,000 1,000,639
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 6.875 08/01/2022 1,090,000 1,016,595
Memorial Production Partners LP, 7.625%, 5/1/21 7.625 05/01/2021 770,000 756,357
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 5.82 06/15/2019 750,000 754,870
Norcraft Companies LP, Initial Loan, 11/12/20 5.25 11/12/2020 198,000 198,000
Big Heart Pet Brands, Initial Term Loan, 2/24/20 3.5 02/24/2020 313,930 313,852
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 800,000 683,436
Gannett Co, Inc., 6.375%, 10/15/23 6.375 10/15/2023 1,120,000 1,241,578
Ooredoo International Finance, Ltd., 3.875%, 1/31/28 (144A) 3.875 01/31/2028 200,000 197,526
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 5.273 12/11/2038 2,642,507 2,698,853
EP Energy LLC, Tranche B-3 Loan, 5/24/18 3.5 05/24/2018 176,667 171,035
Davita Healthcare Partners Inc 1st Lien Tl-B L + 2.75% 19jun21 3.5 06/19/2021 63,182 63,413
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 600,000 603,238
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 8.25 01/15/2021 1,050,000 1,024,909
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 7.75 01/31/2023 400,000 396,583
KKR Group Finance Co II LLC, 5.5%, 2/1/43 (144A) 5.5 02/01/2043 1,500,000 1,700,483
Sealy Corp., 8.0%, 7/15/16 (PIK) 8.0 07/15/2016 13,100 1,112,452
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 4.4 04/15/2019 150,000 152,014
DynCorp International, Inc., Term Loan, 7/7/16 6.25 07/07/2016 65,805 65,504
Lennar Corp., 4.5%, 6/15/19 4.5 06/15/2019 1,175,000 1,220,972
General Electric Capital Corp., Floating Rate Note (Perpetual) 7.125 12/31/2049 1,500,000 1,787,922
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 27,750 722,333
Akorn, Inc., Loan, 11/13/20 4.5 11/13/2020 691,853 697,907
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 428,000 472,258
Syniverse Holdings, Inc., Tranche B Term Loan, 4/23/19 4.0 04/23/2019 484,761 477,086
US Airways, Inc., Tranche B-2 Term Loan (Consenting), 11/23/16 3.0 11/23/2016 525,937 525,527
Cequel Communications LLC, Term Loan, 2/14/19 3.5 02/14/2019 372,447 373,029
NorthStar 2013-1, Floating Rate Note, 8/27/29 (144A) 5.171 08/27/2029 1,500,000 1,521,891
NCF Dealer Floorplan Master Trust, Floating Rate Note, 10/20/20 (144A) 4.6735 10/20/2020 600,000 587,320
Sunoco Logistics Partners Operations LP, 3.45%, 1/15/23 3.45 01/15/2023 2,500,000 2,496,310
Tank Holding Corp., Initial Term Loan, 7/9/19 4.25 07/09/2019 660,961 653,250
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 8.7652 12/06/2016 600,000 620,838
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 1,200,000 781,975
Banco Santander SA, Floating Rate Note (Perpetual) 6.375 12/31/2049 800,000 792,275
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 525,000 496,661
Bank of America Corp., 6.11%, 1/29/37 6.11 01/29/2037 625,000 765,489
Si Organization Inc 1st Lien Tl L + 4.75% 19nov19 5.75 11/19/2019 211,402 212,162
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 5.85 05/21/2043 1,550,000 1,268,307
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 6.75 07/15/2021 2,005,000 2,081,315
Serena Software Inc 1st Lien Term L + 6.5% 10apr20 7.5 04/10/2020 282,750 283,103
Bayview Opportunity Master Fund Trust IIIa 2014-12RPL, 3.6225%, 7/28/19 (Step) (144A) 3.6225 07/28/2019 500,000 283,934
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 800,000 170,475
Aspen Insurance Holdings, Ltd., Floating Rate Note (Perpetual) 5.95 12/31/2049 25,000 644,500
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 9.0375 03/16/2016 250,000 267,175
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 4.4815 02/21/2049 1,200,000 1,204,046
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 5.1 08/15/2038 1,400,000 1,287,455
Neuberger Berman Group LLC, 5.625%, 3/15/20 (144A) 5.625 03/15/2020 100,000 106,547
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 5.135 10/15/2039 100,000 102,779
Altrl Zero% 30jun17 0.0 06/30/2017 600,000 605,820
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 208,000 186,248
Advanced Micro Devices, Inc., 7.5%, 8/15/22 7.5 08/15/2022 445,000 440,643
Kane Ilw Zero% 02feb16 0.0 02/02/2016 1,050,000 973,770
Generac Power Systems, Inc., Term Loan B, 5/31/20 3.25 05/31/2020 662,400 658,536
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 5.375 07/15/2022 1,150,000 1,157,383
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 10.7904 04/10/2015 650,000 662,571
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 6.875 06/24/2019 1,105,000 1,010,216
AECOM, 5.875%, 10/15/24 (144A) 5.875 10/15/2024 635,000 689,403
Avis Budget Car Rental LLC, 5.5%, 4/1/23 5.5 04/01/2023 1,220,000 1,305,349
Amkor Technology, Inc., 6.375%, 10/1/22 6.375 10/01/2022 285,000 304,531
Infor US, Inc., Tranche B-5 Term Loan, 6/3/20 3.75 06/03/2020 215,550 214,068
ExGen Renewables I LLC, Term Loan, 2/5/21 5.25 02/05/2021 1,079,323 1,090,116
Transfield Services, Ltd., 8.375%, 5/15/20 (144A) 8.375 05/15/2020 805,000 876,614
Vitality Re V, Ltd., Floating Rate Note, 1/7/19 (Cat Bond) (144A) 2.5152 01/07/2019 250,000 254,107
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 425,000 448,579
MedAssets, Inc., 8.0%, 11/15/18 8.0 11/15/2018 175,000 186,662
Air Canada 2013-1 Class A Pass Through Trust, 4.125%, 11/15/26 (144A) 4.125 11/15/2026 500,000 506,770
Ensco Plc, 5.75%, 10/1/44 5.75 10/01/2044 3,950,000 4,206,140
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 38,709 16,892
Terex Corp., U.S. Term Loan, 8/13/21 3.5 08/13/2021 110,779 111,298
Fly Leasing, Ltd., 6.375%, 10/15/21 6.375 10/15/2021 1,375,000 1,396,556
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 6.5 05/15/2021 425,000 464,779
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 3.75 06/30/2019 293,655 272,732
AgStar Financial Services ACA, Floating Rate Note (Perpetual) (144A) 6.75 12/31/2049 1,500 1,527,563
Envision Healthcare Corp., Initial Term Loan, 5/25/18 4.0 05/25/2018 293,905 293,997
INEOS Group Holdings SA, 5.875%, 2/15/19 (144A) 5.875 02/15/2019 600,000 607,273
Star West Generation LLC, Term B Advance, 3/13/20 4.25 03/13/2020 0 0
WFRBS Commercial Mortgage Trust 2011-C4, Floating Rate Note, 6/17/44 (144A) 5.245 06/17/2044 50,000 54,436
IASIS Healthcare LLC, Term B-2 Loan, 5/3/18 4.5 05/03/2018 0 0
Rent-A-Center, Inc., 6.625%, 11/15/20 6.625 11/15/2020 930,000 896,478
Syniverse Holdings, Inc., Initial Term Loan, 4/23/19 4.0 04/23/2019 239,957 236,157
Garda World Security Corp., Term B Loan, 11/1/20 4.0 11/01/2020 204,356 202,695
Ocwen Financial Corp., 6.625%, 5/15/19 (144A) 6.625 05/15/2019 1,450,000 1,310,735
American Airlines 2014-1 Class B Pass Through Trust, 4.375%, 10/1/22 4.375 10/01/2022 1,550,000 1,636,703
Del Monte Foods, Inc., Initial Loan (First Lien), 11/26/20 4.2532 11/26/2020 496,241 483,835
DigitalGlobe, Inc., Term Loan, 1/31/20 3.75 01/31/2020 692,419 692,761
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 4.5152 12/06/2016 800,000 828,040
Bway Holding Co 1st Lien Tl-B L + 4.5% 08aug20 5.5 08/08/2020 0 0
US Bancorp, Floating Rate Note (Perpetual) 6.0 12/31/2049 11,338 308,734
Standard Pacific Corp., 6.25%, 12/15/21 6.25 12/15/2021 1,000,000 1,062,674
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 1,705,000 1,743,599
Wachovia Bank Commercial Mortgage Trust Series 2005-C22, Floating Rate Note, 12/15/44 5.3597 12/15/2044 1,600,000 1,627,862
Navios Maritime Partners LP, Term Loan, 6/27/18 5.25 06/27/2018 395,000 395,741
Pacific Drilling SA, Term Loan, 6/3/18 4.5 06/03/2018 206,451 164,954
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 8.133 09/24/2073 1,190,000 1,496,968
Continental Airlines 1997-4 Class B Pass Through Trust, 6.9%, 1/2/17 6.9 01/02/2017 250,000 8,311
NSG Holdings LLC, New Term Loan, 12/11/19 3.75 12/11/2019 217,360 216,001
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 6.5 07/31/2020 292,369 292,734
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 5.214 02/11/2041 100,000 100,445
Inkia Energy, Ltd., 8.375%, 4/4/21 (144A) 8.375 04/04/2021 100,000 106,350
Talos Production LLC, 9.75%, 2/15/18 (144A) 9.75 02/15/2018 420,000 364,779
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 335,000 340,035
Targa Resources Partners LP, 4.25%, 11/15/23 4.25 11/15/2023 555,000 556,199
Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A) 5.625 03/30/2043 1,665,000 1,948,952
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 3.618 05/08/2031 530,000 528,743
Glenn Pool Oil & Gas Trust, Term Loan, 5/2/16 4.5 05/02/2016 24,547 24,424
Fannie Mae, 4.5%, 9/1/40 4.5 09/01/2040 2,868,485 899,867
Turkiye Sise ve Cam Fabrikalari AS, 4.25%, 5/9/20 (144A) 4.25 05/09/2020 400,000 395,647
Citadel Plastics Holdings Inc 1st Lien Tlb L + 4.25% 05nov20 5.25 11/05/2020 367,000 368,835
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 6.75 12/31/2049 1,150,000 1,278,656
Tmus 6.625% 01apr23 6.625 04/01/2023 1,500,000 1,628,703
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 8.625 12/31/2049 450,000 381,464
UBS AG, 7.625%, 8/17/22 7.625 08/17/2022 1,050,000 1,279,629
Paragon Offshore Finance Co Tl-B L + 2.75% 11jul21 3.75 07/11/2021 289,275 215,086
Progreso Receivables Funding II LLC, 6.0%, 7/8/19 (144A) 6.0 07/08/2019 500,000 509,792
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 5.7722 03/17/2049 300,000 312,084
Springleaf Funding Trust 2013-A, 5.0%, 9/15/21 (144A) 5.0 09/15/2021 500,000 507,119
Jazz Pharmaceuticals, Inc., Tranche 2 Term Loan, 6/12/18 3.25 06/12/2018 337,202 338,572
LKQ Corp., 4.75%, 5/15/23 4.75 05/15/2023 250,000 249,648
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 5.375 11/15/2021 200,000 208,786
SBP HOLDINGS, Ltd., Term Loan (First Lien), 3/24/21 5.0 03/24/2021 446,625 391,913
RJS Power Holdings LLC, 5.125%, 7/15/19 (144A) 5.125 07/15/2019 2,380,000 2,358,869
NorthStar 2012-1 Mortgage Trust, Floating Rate Note, 8/27/29 (144A) 4.416 08/27/2029 300,000 300,799
Valeant Pharmaceuticals International, Inc., Series E1 Tranche B Term Loan, 8/5/20 3.5 08/05/2020 728,520 727,928
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 10.0 08/15/2021 800,000 754,889
Scientific Games International Inc 1st Lien Tl-B2 L + 5% 17sep21 6.0 09/17/2021 1,625,000 1,624,899
Rialto Capital Management LLC, 2.85%, 5/15/24 (144A) 2.85 05/15/2024 1,000,000 266,955
COMM 2014-KYO Mortgage Trust, Floating Rate Note, 6/11/27 (144A) 3.673 06/11/2027 1,400,000 1,396,687
Morgan Stanley Capital I, Inc., Floating Rate Note, 7/15/32 (144A) 7.2571 07/15/2032 105,000 9,182
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 5.75 02/01/2023 980,000 915,626
Mid-State Capital Trust 2010-1, 7.0%, 12/15/45 (144A) 7.0 12/15/2045 25,000 19,682
Summit Midstream Holdings LLC, 7.5%, 7/1/21 7.5 07/01/2021 1,030,000 1,096,306
Energy XXI Gulf Coast, Inc., 7.5%, 12/15/21 7.5 12/15/2021 1,360,000 721,083
GE Business Loan Trust 2005-1, Floating Rate Note, 6/15/33 (144A) 0.872 06/15/2033 2,500,000 582,275
CommScope, Inc., Tranche 4 Term Loan, 1/14/18 3.25 01/14/2018 157,102 157,149
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.7685 05/15/2046 220,000 195,656
DuPont Fabros Technology LP, 5.875%, 9/15/21 5.875 09/15/2021 1,000,000 1,071,601
Vita Capital V, Ltd., Floating Rate Note, 1/15/17 (Cat Bond) (144A) 2.7576 01/15/2017 250,000 254,743
j2 Global, Inc., 8.0%, 8/1/20 8.0 08/01/2020 705,000 765,630
Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 6.625 04/07/2021 500,000 600,112
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 6.75 08/29/2049 2,360,000 2,559,992
WireCo WorldGroup, Inc., Term Loan, 2/15/17 6.0 02/15/2017 48,412 48,533
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 4.2787 05/23/2018 750,000 752,171
CNO Financial Group, Inc., 6.375%, 10/1/20 (144A) 6.375 10/01/2020 650,000 705,920
USI, Inc. New York, Initial Term Loan 2013, 12/30/19 4.25 12/30/2019 0 0
Delta Air Lines 2010-2 Class B Pass Through Trust, 6.75%, 11/23/15 (144A) 6.75 11/23/2015 900,000 949,781
Gator Re, Ltd., Floating Rate Note, 1/9/17 (Cat Bond) (144A) 6.7003 01/09/2017 600,000 540,437
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6.0 12/31/2049 14,300 849,956
Golden State RE II, Ltd., Floating Rate Note, 1/8/19 (Cat Bond) (144A) 2.2152 01/08/2019 250,000 250,449
Affiliated Managers Group, Inc., 4.25%, 2/15/24 4.25 02/15/2024 915,000 967,915
Flextronics International, Ltd., 4.625%, 2/15/20 4.625 02/15/2020 585,000 615,227
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.7685 05/15/2046 715,000 679,820
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 350,000 143,436
Mirabela Nickel, Ltd.     922,916 61,283
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8.25 10/19/2019 800,000 113,650
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 6.75 06/15/2021 1,425,000 1,385,937
Pittsburgh Glass Works LLC, 8.0%, 11/15/18 (144A) 8.0 11/15/2018 481,000 522,673
Nn Inc 1st Lien Tl-B L + 5% 18jul21 6.0 07/18/2021 1,380,000 1,385,175
Scds: (Do) Usd 20dec19 Buy Bnr1c7tr9 1.0 12/20/2019 2,000,000 -202,249
Prudential Financial, Inc., Floating Rate Note, 9/15/42 5.875 09/15/2042 1,500,000 1,656,301
Murphy Oil USA, Inc., 6.0%, 8/15/23 6.0 08/15/2023 1,000,000 1,068,417
Landry's, Inc., B Term Loan, 4/24/18 4.0 04/24/2018 431,781 432,968
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 5.9505 05/15/2046 1,813,000 1,890,400
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 550,600 551,206
Radio Systems Corp., 8.375%, 11/1/19 (144A) 8.375 11/01/2019 600,000 664,331
Tata Chemicals North America, Inc., Term Loan, 8/7/20 3.75 08/07/2020 246,250 245,327
Gray Television Inc. 1st Lien Tl L + 3% 10jun21 3.75 06/10/2021 498,306 497,787
A10 Securitization 2013-1 LLC, 6.41%, 11/17/25 (144A) 6.41 11/17/2025 139,000 139,285
Marfrig Holding Europe BV, 8.375%, 5/9/18 (144A) 8.375 05/09/2018 200,000 199,072
Enel Finance International NV, 5.125%, 10/7/19 (144A) 5.125 10/07/2019 150,000 169,777
Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 7/25/34 2.4644 07/25/2034 406,549 61,881
World Kitchen LLC, U.S. Term Loan, 3/4/19 5.5 03/04/2019 186,063 186,063
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/37 (Step) 6.407 08/28/2037 1,288,834 63,888
Altisource Solutions Sarl, Term B Loan, 12/9/20 4.5 12/09/2020 1,135,199 908,159
Salix Pharmaceuticals, Ltd., 6.0%, 1/15/21 (144A) 6.0 01/15/2021 755,000 851,462
Numericable-SFR, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 850,000 866,717
Tiers Trust, Floating Rate Note, 10/15/97 (144A) 0.0   100,000 91,043
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 30,000 31,424
Sprint Corp., 7.125%, 6/15/24 7.125 06/15/2024 1,225,000 1,236,574
PDL BioPharma, Inc., 4.0%, 2/1/18 4.0 02/01/2018 593,000 558,458
CCO Holdings LLC, 5.75%, 9/1/23 5.75 09/01/2023 475,000 506,241
Acgl Zero% 01jul16 0.0 07/01/2016 700,000 704,900
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 9.5 05/04/2020 100,000 101,108
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 10.0152 06/06/2016 500,000 547,789
Legg Mason, Inc., 5.625%, 1/15/44 5.625 01/15/2044 500,000 588,959
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 7.375 11/01/2021 470,000 401,902
Pilot Travel Centers Llc 1st Lien Tl-B L + 3.25% 01oct21 4.25 10/01/2021 1,086,107 1,094,027
Si Organization Inc 1st Lien Dd L + 0% 19nov19 5.75 11/19/2019 14,052 14,102
LBC Tank Terminals Holding Netherlands BV, 6.875%, 5/15/23 (144A) 6.875 05/15/2023 220,000 230,927
T-Mobile USA, Inc., 6.0%, 3/1/23 6.0 03/01/2023 400,000 428,737
Belden, Inc., 5.5%, 4/15/23 (144A) 5.5 04/15/2023 300,000 367,755
Blackstone Holdings Finance Co LLC, 6.25%, 8/15/42 (144A) 6.25 08/15/2042 750,000 950,642
AXIS Equipment Finance Receivables II LLC, 4.94%, 7/20/18 (144A) 4.94 07/20/2018 1,100,000 1,111,885
ACA CLO 2006-2, Ltd., Floating Rate Note, 1/20/21 (144A) 0.9766 01/20/2021 500,000 492,790
Federal Home Loan Mortgage Corp., Floating Rate Note, 5/25/45 (144A) 4.0361 05/25/2045 175,000 178,093
International Automotive Components Group SA, 9.125%, 6/1/18 (144A) 9.125 06/01/2018 400,000 413,821
Cphd 1.25% 01feb21 1.25 02/01/2021 545,000 606,142
Voya Financial, Inc., Floating Rate Note, 5/15/53 5.65 05/15/2053 615,000 648,004
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 1,815,000 1,935,609
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 500,000 562,047
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 5.623 05/12/2045 1,400,000 1,435,794
ML-CFC Commercial Mortgage Trust 2006-4, 5.239%, 12/12/49 5.239 12/12/2049 2,000,000 2,022,545
Avago Technologies Ltd 1st Lien Tl-B L + 3% 16apr21 3.75 04/16/2021 298,500 299,223
Bayview Opportunity Master Fund Trust 2014-15RPL, Floating Rate Note, 10/28/19 (144A) 3.721 10/28/2019 1,750,000 1,661,913
Hologic, Inc., Refinancing Tranche B Term Loan, 8/1/19 3.25 08/01/2019 247,026 247,798
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/26/59 (144A) 5.3 12/26/2059 200,000 206,940
Aegis Toxicology Corp 1st Lien Tl-B L + 4.5% 20feb21 5.5 02/20/2021 223,875 224,994
Intelsat Jackson Holdings SA, 7.25%, 4/1/19 7.25 04/01/2019 250,000 266,151
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 8.5 04/03/2018 76,767 76,887
Bank of America Corp., Floating Rate Note, 9/29/49 6.25 09/29/2049 1,000,000 1,058,785
Frontier Communications Corp., 7.625%, 4/15/24 7.625 04/15/2024 250,000 274,543
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 6.0 07/25/2034 500,000 97,944
Pro Mach Group, Inc., Dollar Term Loan (First Lien), 10/20/21 5.5 10/20/2021 330,315 332,379
Sensus USA, Inc., Term Loan (First Lien), 5/9/17 4.5 05/09/2017 243,064 243,672
Gates Global Llc 1st Lien Tl-B L + 3.25% 12jun21 4.25 06/12/2021 0 0
KB Home, 8.0%, 3/15/20 8.0 03/15/2020 200,000 219,244
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 500,000 563,375
Fixed Income Trust Series 2013-A, 0.0%, 10/15/97 (Step) (144A) 0.0   1,000,000 721,558
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 1,433 17,134
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 540,000 573,570
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 7.875 04/15/2019 400,000 424,638
Confie seguros Holding II Co., Term B Loan (First Lien), 11/9/18 5.75 11/09/2018 788,347 787,526
Albertsons LLC, Term B-2 Loan, 3/21/19 5.375 03/21/2019 894,254 899,044
Fieldwood Energy LLC, Closing Date Loan, 9/25/18 3.875 09/25/2018 247,495 237,441
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3.5 08/23/2019 556,073 557,637
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 5.658 03/15/2045 304,000 310,607
Physio-Control International, Inc., 9.875%, 1/15/19 (144A) 9.875 01/15/2019 142,000 153,260
Albea Beauty Holdings SA, 8.375%, 11/1/19 (144A) 8.375 11/01/2019 255,000 277,241
Conseco Financial Corp., 6.18%, 4/1/30 6.18 04/01/2030 2,201,000 218,133
Atlas IX Capital, Ltd., Floating Rate Note, 1/17/19 (Cat Bond) (144A) 3.4452 01/17/2019 250,000 257,214
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 400,000 55,080
VOLT XXII LLC, 4.75%, 10/27/53 (Step) 4.75 10/27/2053 2,500,000 2,489,941
Monitronics International, Inc., Term B Loan (2013), 3/23/18 4.25 03/23/2018 555,684 557,160
Nations Equipment Finance Funding II LLC, 5.227%, 9/20/19 (144A) 5.227 09/20/2019 1,499,000 1,429,568
Tenet Healthcare Corp., 4.5%, 4/1/21 4.5 04/01/2021 265,000 271,194
Delta Air Lines 2010-1 Class B Pass Through Trust, 6.375%, 1/2/16 (144A) 6.375 01/02/2016 400,000 418,967
Constellation Brands, Inc., 3.75%, 5/1/21 3.75 05/01/2021 470,000 484,541
Harland Clarke Holdings Corp., Tranche B-4 Term Loan, 8/17/19 6.0 08/17/2019 321,750 322,504
Verizon Communications, Inc., 6.55%, 9/15/43 6.55 09/15/2043 576,000 774,088
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 7.42 01/09/2019 1,000,000 1,039,578
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 7.0 05/15/2018 865,000 890,974
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 5.0 02/15/2018 762,669 731,924
Continental Airlines 2001-1 Class B Pass Through Trust, 7.373%, 12/15/15 7.373 12/15/2015 250,000 52,423
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 10.5 12/15/2018 100,000 107,629
CHS, 8.0%, 11/15/19 8.0 11/15/2019 1,075,000 1,174,856
MortgageIT Trust 2005-1, Floating Rate Note, 2/25/35 1.671 02/25/2035 3,432,000 555,763
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 100,000 107,607
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,342,000 950,807
Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A) 6.5 02/24/2021 525,000 621,915
Rosetta Resources, Inc., 5.625%, 5/1/21 5.625 05/01/2021 515,000 499,952
Advanced Micro Devices, Inc., 6.75%, 3/1/19 6.75 03/01/2019 595,000 610,284
RegionalCare Hospital Partners, Inc., Term Loan (First Lien), 4/21/19 6.0 04/21/2019 344,896 346,405
Wells Fargo Commercial Mortgage Trust 2010-C1, 4.0%, 11/18/43 (144A) 4.0 11/18/2043 100,000 89,374
International Equipment Solutions LLC, Initial Loan, 8/16/19 6.75 08/16/2019 652,239 653,870
Ziggo Bv 1st Lien Tl-B2 L + 2.75% 15jan22 3.385 01/15/2022 357,447 354,862
Kane-Pi4 Flt% 07jul16 0.0 07/07/2016 1,503,871 1,501,014
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 0.0 03/30/2019 700,000 863,450
Flagship Credit Auto Trust 2013-1, 5.38%, 7/15/20 5.38 07/15/2020 700,000 719,028
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 7.75 10/15/2021 950,000 981,950
Leaf Receivables Funding 8 LLC, 5.5%, 9/15/20 (144A) 5.5 09/15/2020 358,317 363,635
Southern California Edison Co., Floating Rate Note (Perpetual) 6.25 12/31/2049 75,000 84,352
HSBC Bank USA NA New York NY, 6.0%, 8/9/17 6.0 08/09/2017 250,000 275,533
Tower Automotive Holdings USA LLC, Refinancing Term Loan, 4/23/20 4.0 04/23/2020 871,801 871,075
Securus Technologies Holdings, Inc., Initial Term Loan (First Lien), 4/30/20 4.75 04/30/2020 494,246 489,303
Firstar Realty LLC, 8.875% (Perpetual) (144A) 8.875 12/31/2049 400 504,750
SunPower Corp., 0.875%, 6/1/21 (144A) 0.875 06/01/2021 2,000,000 1,966,729
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 12.0 07/01/2019 1,129,903 1,106,175
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 5.75 08/25/2036 1,200,000 182,200
The Goldman Sachs Group, Inc., 6.75%, 10/1/37 6.75 10/01/2037 225,000 297,252
Morgan Stanley, 4.875%, 11/1/22 4.875 11/01/2022 250,000 275,525
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 8.375 09/30/2020 1,846,407 1,424,619
Essar Steel Algoma Inc 1st Lien Tl-B L + 6.5% 07aug19 7.5 08/07/2019 349,125 339,815
Westgate Resorts 2014-1 LLC, 5.5%, 12/20/26 (144A) 5.5 12/20/2026 800,000 689,053
Verint Systems, Inc., Tranche B Incremental Term Loan, 9/6/19 3.5 09/06/2019 368,872 368,688
Carefree Portfolio Trust 2014-CARE, Floating Rate Note, 11/15/29 (144A) 2.7557 11/15/2029 500,000 462,279
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 5.2171 02/13/2046 500,000 524,795
On Assignment, Inc., Initial Term B Loan, 5/15/20 3.5 05/15/2020 367,182 365,231
Outerwall, Inc., 5.875%, 6/15/21 (144A) 5.875 06/15/2021 1,485,000 1,383,891
Viasystems, Inc., 7.875%, 5/1/19 (144A) 7.875 05/01/2019 950,000 1,026,564
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 0.0 12/01/2019 500,000 509,100
SUAM Finance BV, 4.875%, 4/17/24 (144A) 4.875 04/17/2024 500,000 526,370
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 345,000 346,703
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 7.25 05/01/2022 600,000 593,138
Applied Systems, Inc., Initial Term Loan (First Lien), 1/15/21 4.25 01/15/2021 220,946 220,587
Rovi Solutions Corp 1st Lien Tl-B L + 3% 02jul21 3.75 07/02/2021 203,254 201,729
Credit Agricole SA, Floating Rate Note, 12/31/64 (144A) 6.625 12/31/2064 1,900,000 1,908,477
KB Home, 7.0%, 12/15/21 7.0 12/15/2021 500,000 509,597
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 330,000 302,156
Countrywide Asset-Backed Certificates, Floating Rate Note, 6/25/34 (144A) 0.341 06/25/2034 9,809,888 271,568
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.5051 04/09/2015 1,000,000 1,020,456
Cme: (Cdx.Na.Hy.23.V2) Usd 20dec19 Z91mw60e6 5.0 12/20/2019 -102,752,100 -8,769,321
CityCenter Holdings LLC, Term B Loan, 10/16/20 4.25 10/16/2020 227,316 227,671
Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A) 8.75 12/15/2019 750,000 780,182
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 5.1549 07/10/2045 350,000 353,722
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 5.625 04/17/2020 400,000 339,988
Charter Communications Operating LLC, Term F Loan, 12/31/20 3.0 12/31/2020 492,500 490,722
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 5.0 12/20/2019 489,793 489,793
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 4.5 10/13/2028 1,400,000 1,403,395
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 620,000 564,110
Windstream Corp., Tranche B-4 Term Loan, 1/23/20 3.5 01/23/2020 196,491 196,105
Fidelity National Financial, Inc., 5.5%, 9/1/22 5.5 09/01/2022 250,000 278,537
Bayview Commercial Asset Trust 2004-1, Floating Rate Note, 4/25/34 (144A) 1.971 04/25/2034 4,900,000 435,805
COMM 2012-CCRE4 Mortgage Trust, Floating Rate Note, 10/17/45 (144A) 4.5755 10/17/2045 303,000 307,866
Kane Flt% 12jun15   06/12/2015 1,100,000 1,064,910
Shearers Foods Llc 1st Lien Tl L + 3.5% 19jun21 4.5 06/19/2021 947,625 945,256
Gardner Denver, Inc., Initial Dollar Term Loan, 7/30/20 4.25 07/30/2020 642,494 618,802
ACCELLENT INC, Initial Term Loan (First Lien), 2/21/21 4.5 02/21/2021 918,063 908,022
Halyard Health, Inc., 6.25%, 10/15/22 (144A) 6.25 10/15/2022 1,080,000 1,158,563
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 7.5 09/15/2020 650,000 685,885
Transportadora de Gas del Peru SA, 4.25%, 4/30/28 (144A) 4.25 04/30/2028 300,000 302,304
NBTY, Inc., Term B-2 Loan, 10/1/17 3.5 10/01/2017 750,000 740,625
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 4.125 03/15/2018 150,000 85,302
SNAAC Auto Receivables Trust 2013-1, 4.56%, 4/15/20 (144A) 4.56 04/15/2020 450,000 466,073
InterGen NV, 7.0%, 6/30/23 (144A) 7.0 06/30/2023 1,050,000 1,019,842
Petsmart Inc 1st Lien Bridge L + 7% 13dec15 8.0 12/13/2015 2,145,000 2,145,000
JinkoSolar Holding Co, Ltd., 4.0%, 2/1/19 (144A) 4.0 02/01/2019 1,455,000 1,283,856
Quebecor Media, Inc., Facility B-1 Tranche, 8/17/20 3.25 08/17/2020 234,902 230,644
GS Mortgage Securities Trust 2014-GSFL, Floating Rate Note, 7/15/31 (144A) 3.1783 07/15/2031 705,000 703,785
Resolute Forest Products, Inc., 5.875%, 5/15/23 5.875 05/15/2023 1,110,000 1,089,808
Fannie Mae, 4.5%, 9/1/39 4.5 09/01/2039 2,945,000 1,226,755
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 1,070,000 1,126,911
Midstates Petroleum Co, Inc., 10.75%, 10/1/20 10.75 10/01/2020 650,000 441,282
ConvaTec, Inc., Dollar Term Loan, 12/22/16 4.0 12/22/2016 92,917 93,381
Cummins, Inc., 5.65%, 3/1/98 5.65   350,000 416,129
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 5.0 08/16/2020 443,087 441,240
Quebecor Media, Inc., 5.75%, 1/15/23 5.75 01/15/2023 825,000 871,744
Halyard Health Inc 1st Lien Tl-B L + 3.25% 03oct21 4.0 10/03/2021 500,000 504,453
McKesson Corp., 4.883%, 3/15/44 4.883 03/15/2044 1,500,000 1,746,678
Catamaran Corp., 4.75%, 3/15/21 4.75 03/15/2021 1,125,000 1,195,602
Avg Technologies Nv 1st Lien Tl-B L + 4.75% 07oct20 5.75 10/07/2020 1,250,000 1,242,969
Interline Brands, Inc., Term Loan (First Lien), 3/12/21 4.0 03/12/2021 0 0
CenturyLink, Inc., 7.65%, 3/15/42 7.65 03/15/2042 1,300,000 1,371,029
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 250,000 170,569
Burger King Corp 1st Lien Tl-B L + 3.5% 25sep21 4.5 09/25/2021 365,000 367,078
Kleopatra Acquisition Corp., Term B-1 Loan, 12/21/16 4.75 12/21/2016 180,532 181,209
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 400,000 430,258
Energy XXI, Ltd., 3.0%, 12/15/18 3.0 12/15/2018 1,665,000 617,859
American Airlines, Inc., Class B Term Loan, 6/27/19 3.75 06/27/2019 344,750 344,822
Del Monte Foods, Inc., Initial Loan (Second Lien), 5/26/21 8.25 05/26/2021 0 0
NEXEO SOLUTIONS LLC, Term B-3 Loan, 9/9/17 5.0 09/09/2017 742,500 726,722
New Residential Advance Receivables Trust Advance Receivables Backed 2014-VF1, 3.6491%, 3/15/45 3.6491 03/15/2045 1,000,000 1,001,089
GRIFOLS WORLDWIDE OPERATIONS USA INC, U.S. Tranche B Term Loam, 4/1/21 3.172 04/01/2021 99,250 99,211
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 500,000 584,601
Truven Health Analytics, Inc., New Tranche B Term Loan, 6/6/19 4.5 06/06/2019 992,424 978,158
STORE Master Funding LLC, 4.16%, 3/20/43 (144A) 4.16 03/20/2043 200,000 199,394
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 7.78 03/25/2027 5,850,000 257,002
Verizon Communications, Inc., 5.012%, 8/21/54 (144A) 5.012 08/21/2054 576,000 603,540
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 6.875 02/15/2019 1,350,000 1,245,352
Gestamp Funding Luxembourg SA, 5.625%, 5/31/20 (144A) 5.625 05/31/2020 1,215,000 1,262,461
Igloo Holdings Corp., 8.25%, 12/15/17 (144A) (PIK) 8.25 12/15/2017 200,000 205,096
Amgen, Inc., 5.375%, 5/15/43 5.375 05/15/2043 2,500,000 3,024,306
MortgageIT Trust 2005-1, Floating Rate Note, 2/25/35 1.971 02/25/2035 2,208,000 340,590
Renfro Corp., Tranche B Term Loan, 1/30/19 5.75 01/30/2019 0 0
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 5.55 10/28/2020 500,000 477,420
NCR Corp., 6.375%, 12/15/23 6.375 12/15/2023 1,160,000 1,241,695
Crowne Group Llc 1st Lien Tl-B L + 5% 29sep20 6.0 09/29/2020 573,563 564,959
Glencore Funding LLC, 4.125%, 5/30/23 (144A) 4.125 05/30/2023 200,000 206,732
A10 Securitization 2013-1 LLC, 4.7%, 11/17/25 (144A) 4.7 11/17/2025 350,000 350,499
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 490,000 523,546
BioScrip, Inc., 8.875%, 2/15/21 (144A) 8.875 02/15/2021 1,050,000 943,115
Microsemi Corp., Term Loan (2014), 3/14/21 3.25 03/14/2021 175,289 174,887
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 5.1 08/15/2038 1,150,000 1,163,458
NRG Energy, Inc., 8.25%, 9/1/20 8.25 09/01/2020 200,000 221,363
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 595,000 467,308
Gentiva Health Services, Inc., 11.5%, 9/1/18 11.5 09/01/2018 60,000 67,068
DR Horton, Inc., 5.75%, 8/15/23 5.75 08/15/2023 1,265,000 1,378,314
Floatel 1st Lien Tl-B L + 5% 22may20 6.0 05/22/2020 667,128 500,346
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/7/17 (Cat Bond) (144A) 5.0051 02/07/2017 1,000,000 1,008,392
NCI Building Systems, Inc., Tranche B Term Loan, 6/24/19 4.25 06/24/2019 492,483 491,406
Beverage Packaging Holdings Luxembourg II SA, 6.0%, 6/15/17 (144A) 6.0 06/15/2017 300,000 306,650
Kindred Healthcare, Inc., 6.375%, 4/15/22 6.375 04/15/2022 400,000 409,421
Geely Automobile Holdings, Ltd., 5.25%, 10/6/19 (144A) 5.25 10/06/2019 950,000 983,923
VOLT XXIII LLC, 4.75%, 11/25/53 (Step) 4.75 11/25/2053 2,000,000 1,992,762
Zebra Technologies Corp., 7.25%, 10/15/22 (144A) 7.25 10/15/2022 1,105,000 1,222,997
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/9/19 (144A) 4.921 05/09/2019 300,000 295,658
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 5.75 04/23/2021 1,273,600 1,258,317
Monitronics International, Inc., 9.125%, 4/1/20 9.125 04/01/2020 785,000 799,531
Nrg 6.25% 01may24 6.25 05/01/2024 500,000 520,156
Foresight Energy LLC, Term Loan, 8/21/20 5.5 08/21/2020 249,073 239,110
Monty Parent Issuer 1 LLC, 4.25%, 11/20/28 (144A) 4.25 11/20/2028 1,750,000 719,459
Scientific Games International, Inc., 10.0%, 12/1/22 (144A) 10.0 12/01/2022 800,000 805,556
Prince Mineral Holding Corp., 12.0%, 12/15/19 (144A) 12.0 12/15/2019 265,000 271,717
LB-UBS Commercial Mortgage Trust 2005-C2, Floating Rate Note, 4/15/40 5.2739 04/15/2040 1,000,000 1,004,435
Amsg 5.625% 15jul22 5.625 07/15/2022 1,545,000 1,648,080
Ebs 2.875% 15jan21 2.875 01/15/2021 1,470,000 1,746,079
Belden, Inc., 5.5%, 9/1/22 (144A) 5.5 09/01/2022 1,360,000 1,430,777
Citigroup Mortgage Loan Trust, Inc., 6.75%, 9/25/34 6.75 09/25/2034 300,000 59,228
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 330,000 354,689
Tempur Sealy International, Inc., New Term B Loan, 3/18/20 3.5 03/18/2020 102,147 102,126
MMM Holdings, Inc., MMM Term Loan, 12/12/17 9.75 12/12/2017 25,608 25,640
Sector Re V, Ltd., 0.0%, 3/1/18 (Cat Bond) (144A) 0.0 03/01/2018 272 4,609
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 5.172 03/15/2018 1,300,000 1,302,558
Mpg Holdco I Inc 1st Lien Tl-B L + 3.5% 13oct21 4.25 10/13/2021 1,755,588 1,764,906
Univar, Inc., Term B Loan, 6/30/17 5.0 06/30/2017 265,824 264,495
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 6.657 08/15/2043 400,000 428,518
Flextronics International, Ltd., 5.0%, 2/15/23 5.0 02/15/2023 695,000 734,480
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,025,000 987,089
Citigroup, Inc., Floating Rate Note (Perpetual) 5.9 12/31/2049 1,500,000 1,508,821
Gahr 3.38216% 15dec19 15-Nrf_Efx 3.3822 12/15/2019 820,000 770,935
GTP Acquisition Partners I LLC, 7.628%, 6/15/41 (144A) 7.628 06/15/2041 500,000 522,809
Sirius XM Radio, Inc., 4.625%, 5/15/23 (144A) 4.625 05/15/2023 830,000 824,383
Progressive Waste Solutions, Ltd., Term B Loan, 10/24/19 3.0 10/24/2019 443,216 446,078
Vericrest Opportunity Loan Transferee 2014-NPL4 LLC, 4.0%, 4/27/54 (Step) (144A) 4.0 04/27/2054 750,000 740,699
Israel Electric Corp, Ltd., 5.625%, 6/21/18 (144A) 5.625 06/21/2018 900,000 977,264
Altice Financing SA, 6.5%, 1/15/22 (144A) 6.5 01/15/2022 1,800,000 1,876,975
Houghton Mifflin Harcourt Publishing Co., Term Loan, 5/22/18 4.25 05/22/2018 145,875 145,389
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 3.157 01/25/2035 1,100,000 109,234
CoBank ACB, Floating Rate Note (Perpetual) (144A) 6.25 12/31/2049 5,000 515,469
Constellation Brands, Inc., 4.25%, 5/1/23 4.25 05/01/2023 485,000 509,887
WR Grace & Co-Conn, U.S. Term Loan, 1/23/21 3.0 01/23/2021 480,163 480,863
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 1,671,000 384,678
New Albertsons Inc 1st Lien Tl L + 3.75% 24jun21 4.75 06/24/2021 399,000 399,312
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 7.25 05/01/2019 400,000 415,425
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 9.0 01/29/2019 340,000 364,565
Frontier Communications Corp., 6.25%, 9/15/21 6.25 09/15/2021 200,000 211,090
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,050,525 1,053,151
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 8.625 06/15/2019 678,498 717,505
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 6.25 12/18/2019 1,881,000 1,889,229
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/17/48 (144A) 4.3551 03/17/2048 200,000 197,004
B&G Foods, Inc., 4.625%, 6/1/21 4.625 06/01/2021 400,000 404,471
Kane Zero% 19feb16 0.0 02/19/2016 1,200,000 1,236,360
Endo Finance LLC, 5.375%, 1/15/23 (144A) 5.375 01/15/2023 875,000 895,930
Crown Americas Llc 1st Lien Tl-B L + 3.25% 20oct21 4.0 10/20/2021 650,000 657,262
Virgin Media Investment Holdings, Ltd., B Facility, 6/8/20 3.5 06/08/2020 790,000 789,321
Hearthside Group Holdings Llc 1st Lien Tl L + 3.5% 24apr21 4.5 04/24/2021 0 0
Griffon Corp., 5.25%, 3/1/22 5.25 03/01/2022 1,875,000 1,895,273
Penn Virginia Corp., 7.25%, 4/15/19 7.25 04/15/2019 600,000 588,321
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 11.7874 11/10/2016 500,000 535,509
NCR Corp., 5.0%, 7/15/22 5.0 07/15/2022 685,000 694,228
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 1,220,000 1,178,164
MDC Holdings, Inc., 5.5%, 1/15/24 5.5 01/15/2024 890,000 867,420
FCA US LLC, Tranche B Term Loan, 12/29/18 3.25 12/29/2018 2,009,813 2,008,808
DriveTime Automotive Group, Inc., 8.0%, 6/1/21 (144A) 8.0 06/01/2021 1,265,000 1,204,069
Booz Allen Hamilton, Inc., Refinance Tranche B, 7/31/19 3.75 07/31/2019 124,031 124,444
Morgan Stanley, Floating Rate Note (Perpetual) 6.375 12/31/2049 96,200 2,524,288
Qwest Corp., 7.375%, 6/1/51 7.375 06/01/2051 4,400 115,940
PQ Corp., 2014 Term Loan, 8/7/17 4.0 08/07/2017 686,000 684,666
Appvion, Inc., Term Commitment, 6/28/19 5.75 06/28/2019 985,000 966,531
SM Energy Co., 5.0%, 1/15/24 5.0 01/15/2024 455,000 444,067
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 29,032 5,198
The Ryland Group, Inc., 0.25%, 6/1/19 0.25 06/01/2019 1,000,000 947,479
Live Nation Entertainment, Inc., Term B-1 Loan, 8/17/20 3.5 08/17/2020 422,650 420,664
Interactive Data 1st Lien Tl-B L + 3.75% 24apr21 4.75 04/24/2021 39,307 39,479
Micro Focus Us Inc 1st Lien Tl-B L + 4.25% 07oct21 5.25 10/07/2021 775,000 764,989
RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step) 4.46 07/25/2033 400,000 254,701
Unifrax I LLC, 7.5%, 2/15/19 (144A) 7.5 02/15/2019 630,000 638,006
CWABS Asset-Backed Certificates Trust 2005-4, Floating Rate Note, 9/27/32 4.456 09/27/2032 360,000 8,512
The Goldman Sachs Group, Inc., 6.45%, 5/1/36 6.45 05/01/2036 300,000 379,741
The Geo Group, Inc., 5.875%, 10/15/24 5.875 10/15/2024 2,935,000 3,147,696
AT&T, Inc., 3.9%, 3/11/24 3.9 03/11/2024 3,500,000 3,714,384
Accudyne Industries Borrower SCA, Refinancing Term Loan, 12/13/19 4.0 12/13/2019 687,677 662,749
CAM Mortgage Trust 2014-1, 5.5%, 12/15/53 (Step) (144A) 5.5 12/15/2053 750,000 371,237
CNL Commercial Mortgage Loan Trust 2003-1, Floating Rate Note, 5/15/31 (144A) 0.673 05/15/2031 5,908,000 452,100
Bayview Opportunity Master Fund IIa Trust 2014-20NPL, Floating Rate Note, 8/28/44 (144A) 3.721 08/28/2044 460,000 397,523
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 5.25 04/25/2032 2,500,000 702,317
Residential Reinsurance 2013, Ltd., Floating Rate Note, 12/6/19 (Cat Bond) (144A) 20.0051 12/06/2019 250,000 267,642
Eco Services Operations Llc 1st Lien Tl-B L + 3.75% 10oct21 4.75 10/10/2021 575,000 577,156
RESI Finance LP 2003-D, Floating Rate Note, 12/10/35 (144A) 1.4715 12/10/2035 6,760,000 1,138,489
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 294,350 294,998
Fannie Mae, 3.5%, 5/1/44 3.5 05/01/2044 6,475,000 6,399,882
Ukraine Government International Bond, 7.5%, 4/17/23 (144A) 7.5 04/17/2023 200,000 89,458
Outerwall, Inc., 6.0%, 3/15/19 6.0 03/15/2019 435,000 435,943
Wells Fargo & Co., Floating Rate Note (Perpetual) 7.98 12/31/2049 400,000 451,453
Linn Energy LLC, 6.25%, 11/1/19 6.25 11/01/2019 900,000 785,531
CSMC Trust 2014-SURF, Floating Rate Note, 2/15/29 (144A) 3.272 02/15/2029 2,000,000 1,999,829
NRG Energy, Inc., 7.625%, 1/15/18 7.625 01/15/2018 900,000 1,007,197
Government National Mortgage Association, Floating Rate Note, 3/16/53 0.963 03/16/2053 350,000 21,717
ACRE Commercial Mortgage Trust 2014-FL2, Floating Rate Note, 8/15/31 (144A) 3.5709 08/15/2031 1,400,000 1,390,118
Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, Floating Rate Note, 10/12/42 5.1404 10/12/2042 1,500,000 1,508,427
Ship Midco, Ltd., Facility B2A-II, 11/29/19 5.25 11/29/2019 78,745 78,975
Citrus Re, Ltd., Floating Rate Note, 4/24/17 (Cat Bond) (144A) 3.7753 04/24/2017 350,000 349,851
Calpine Construction Finance Co LP, Term B-1 Loan, 5/3/20 3.0 05/03/2020 526,975 521,376
Wausau Paper 1st Lien Tl-B L + 5.5% 20jul20 6.5 07/20/2020 1,094,500 1,097,236
ORES 2014-LV3 LLC, 6.0%, 3/27/24 6.0 03/27/2024 1,000,000 1,005,167
Mirror BidCo Corp., New Incremental Term Loan, 12/18/19 4.25 12/18/2019 916,433 911,660
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6.875 11/01/2019 400,000 306,938
Progreso Receivables Funding I LLC, 4.0%, 7/9/18 (144A) 4.0 07/09/2018 1,250,000 1,260,590
Icon Brand Holdings LLC, 4.352%, 1/25/43 (144A) 4.352 01/25/2043 250,000 223,965
CenturyLink, Inc., 7.6%, 9/15/39 7.6 09/15/2039 150,000 158,162
Pangaea Zero% 01jul18 0.0 07/01/2018 2,000,000 2,162,000
Schaeffler (Aka Ina Beteiligungsge 1st Lien Tl-B L + 3.5% 15may20 4.25 05/15/2020 475,000 479,029
Armacell International GmbH, Term Loan B (First Lien), 7/2/20 5.5 07/02/2020 495,000 495,000
US Renal Care, Inc., Tranche B-2 Term Loan (First Lien), 7/3/19 4.25 07/03/2019 741,990 741,990
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 7.25 01/15/2018 700,000 727,062
HJ Heinz Co., Term B-2 Loan, 6/5/20 3.5 06/05/2020 262,050 262,869
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 7.0 02/01/2021 400,000 374,100
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.5545 04/10/2038 1,000,000 1,004,940
Federal Home Loan Mortgage Corp., 4.5%, 6/1/41 4.5 06/01/2041 2,749,325 914,878
NPC International, Inc., Term Loan, 12/28/18 4.0 12/28/2018 561,912 556,995
Post Holdings, Inc., 7.375%, 2/15/22 7.375 02/15/2022 550,000 574,840
CHS, 6.875%, 2/1/22 6.875 02/01/2022 1,495,000 1,606,424
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 5.875 06/24/2019 405,000 418,039
Hilton USA Trust 2013-HLF, Floating Rate Note, 11/5/30 (144A) 2.921 11/05/2030 1,900,000 1,875,354
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 10.625 02/01/2016 475,000 442,863
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 5.625 12/15/2016 200,000 203,781
CNO Financial Group, Inc., Tranche B-2 Term Loan, 9/28/18 3.75 09/28/2018 91,970 91,653
First Data Corp., 2018 New Dollar Term Loan, 3/24/18 3.6715 03/24/2018 500,000 499,844
NuVasive, Inc., 2.75%, 7/1/17 2.75 07/01/2017 622,000 784,485
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 800,000 519,883
Verizon Communications, Inc., 4.15%, 3/15/24 4.15 03/15/2024 2,500,000 2,733,633
Legg Mason, Inc., 3.95%, 7/15/24 3.95 07/15/2024 1,250,000 1,309,914
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 430,000 433,279
Commonwealth of the Bahamas, 5.75%, 1/16/24 (144A) 5.75 01/16/2024 1,700,000 1,830,404
Az Chem Us Inc 1st Lien Tl-B L + 3.5% 09jun21 4.5 06/09/2021 0 0
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.5235 04/10/2038 700,000 719,285
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 0.0 09/18/2017 800,000 826,640
Linn Energy LLC, 6.5%, 5/15/19 6.5 05/15/2019 800,000 714,878
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 1,413,750 1,419,935
Wheelabrator 1st Lien Tl-C L + 4% 15oct21 5.0 10/15/2021 84,291 85,187
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 700,000 660,034
Immucor, Inc., Term B-2 Loan, 8/19/18 5.0 08/19/2018 441,491 441,491
Allegion US Holding Co, Inc., 5.75%, 10/1/21 5.75 10/01/2021 930,000 998,336
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 9.25 06/01/2020 1,000,000 1,052,354
Wells Fargo & Co., Floating Rate Note (Perpetual) 5.875 12/31/2049 750,000 793,659
Kane Zero% 22jan16 0.0 01/22/2016 500,000 506,600
US Airways 2013-1 Class A Pass Through Trust, 3.95%, 5/15/27 3.95 05/15/2027 400,000 412,159
WCA Waste Corp., Term Loan, 3/23/18 4.0 03/23/2018 692,457 685,821
Morgan Stanley, Floating Rate Note (Perpetual) 7.125 12/31/2049 18,000 507,060
VOLT XXIV LLC, 4.75%, 11/25/53 (Step) 4.75 11/25/2053 1,000,000 998,605
CST Brands, Inc., 5.0%, 5/1/23 5.0 05/01/2023 1,325,000 1,389,594
Kinetic Concepts, Inc., Dollar Term E-1 Loan, 5/4/18 4.0 05/04/2018 391,192 391,253
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 1,225,000 1,191,670
Instituto Costarricense de Electricidad, 6.375%, 5/15/43 (144A) 6.375 05/15/2043 1,000,000 859,490
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 250,000 28,352
Brocade Communications Systems, Inc., 4.625%, 1/15/23 4.625 01/15/2023 1,415,000 1,396,286
Mar15 Vix C @ 18.000000   03/18/2015 500 36,250
Wells Fargo & Co., 7.5% (Perpetual) 7.5 12/31/2049 1,050 1,273,083
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 9.875 02/01/2020 300,000 317,222
TMX Finance LLC, 8.5%, 9/15/18 (144A) 8.5 09/15/2018 1,035,000 873,008
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 75,000 82,659
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/20 (Cat Bond) (144A) 6.8652 04/07/2020 1,000,000 1,054,826
Seagate HDD Cayman, 4.75%, 1/1/25 (144A) 4.75 01/01/2025 1,100,000 1,172,709
Henniges Automotive Holdings Inc 1st Lien Tl-B L + 5% 11jun21 5.5 06/11/2021 1,716,375 1,724,957
Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A) 7.506 12/31/2049 1,335,000 1,418,451
Government National Mortgage Association REMICS, Floating Rate Note, 11/16/54 1.0377 11/16/2054 3,400,000 308,031
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 500,000 324,229
Offshore Group Investment, Ltd., Second Term Loan, 3/28/19 5.75 03/28/2019 127,027 78,757
Arcelik AS, 5.0%, 4/3/23 (144A) 5.0 04/03/2023 400,000 392,856
CommScope, Inc., Tranche 3 Term Loan, 1/21/17 2.8283 01/21/2017 104,735 104,560
Kane Zero% 22jan16 0.0 01/22/2016 1,200,000 1,211,040
Epiq Systems, Inc., Term Loan, 8/27/20 4.5031 08/27/2020 592,500 591,019
Citigroup Capital XIII, Floating Rate Note, 10/30/40 7.875 10/30/2040 49,090 1,303,830
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 7.2845 07/18/2019 28,619 25,900
Kindred Healthcare 1st Lien Tl-B L + 3% 10apr21 4.25 04/10/2021 490,050 489,846
Vertafore, Inc., Term Loan (2013), 10/3/19 4.25 10/03/2019 94,831 94,840
WR Grace & Co-Conn, Delayed Draw Term Loan, 1/23/21 3.0 01/23/2021 172,782 173,034
Orange Lake Timeshare Trust 2012-A, 4.87%, 3/10/27 (144A) 4.87 03/10/2027 600,000 275,781
U.S. Treasury Inflation Indexed Bonds, 0.125%, 7/15/24 0.125 07/15/2024 16,600,000 16,426,238
Swift Transportation Co Llc 1st Lien Tl-B L + 3% 09jun21 3.75 06/09/2021 168,707 168,786
Audio Visual Services Corp., Initial Term Loan (First Lien), 1/24/21 4.5 01/24/2021 114,138 114,280
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 1,300,000 1,383,850
MGM Resorts International, Term B Loan, 12/20/19 3.5 12/20/2019 264,600 263,972
CCO Holdings LLC, 6.625%, 1/31/22 6.625 01/31/2022 600,000 646,813
Corporate Office Properties LP, 3.6%, 5/15/23 3.6 05/15/2023 155,000 152,225
Select Medical Corp., Series E Tranche B Term Loan, 6/1/18 3.7502 06/01/2018 21,259 21,286
Citrus Re, Ltd., Floating Rate Note, 4/18/17 (Cat Bond) (144A) 4.2753 04/18/2017 250,000 250,165
Hexion US Finance Corp., 8.875%, 2/1/18 8.875 02/01/2018 1,200,000 1,018,988
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 5.25 04/25/2032 509,814 113,108
Drillships Financing Holding, Inc., Tranche B-1 Term Loan, 3/31/21 6.0 03/31/2021 985,000 772,240
COBALT CMBS Commercial Mortgage Trust 2007-C2, Floating Rate Note, 4/15/47 5.568 04/15/2047 1,200,000 1,228,834
JLL, Initial Dollar Term Loan, 1/23/21 4.25 01/23/2021 447,750 444,672
Livingston International, Inc., Initial Term B-1 Loan (First Lien), 4/18/19 5.0 04/18/2019 714,125 695,379
OAS Finance, Ltd., 8.0%, 7/2/21 (144A) 8.0 07/02/2021 860,000 146,152
Morgan Stanley, 4.1%, 5/22/23 4.1 05/22/2023 750,000 782,925
Post Holdings, Inc., 2.5% (Perpetual) (144A) 2.5 12/31/2049 11,800 1,147,550
JP Morgan Chase Commercial Mortgage Securities Trust 2014-INN, Floating Rate Note, 6/15/29 (144A) 3.773 06/15/2029 1,530,000 1,530,671
SolarCity Corp., 1.625%, 11/1/19 (144A) 1.625 11/01/2019 1,345,000 1,189,223
Banc of America Merrill Lynch Commercial Mortgage, Inc. REMICS, Floating Rate Note, 9/10/47 (144A) 5.7204 09/10/2047 160,000 141,898
Corsicanto, Ltd., 3.5%, 1/15/32 3.5 01/15/2032 750,000 563,615
Telesat Canada, U.S. Term B-2 Loan, 3/28/19 3.5 03/28/2019 604,581 604,702
Coveris Holdings SA, USD Term Loan, 4/14/19 5.25 04/14/2019 29,700 29,867
Seadrill Operating LP, Initial Term Loan, 2/14/21 4.0 02/14/2021 841,500 682,967
Bayview Commercial Asset Trust 2004-3, Floating Rate Note, 1/25/35 (144A) 1.171 01/25/2035 7,450,000 1,094,244
Garda World Security Corp., Term B Delayed Draw Loan, 11/8/20 4.0 11/08/2020 52,277 51,852
Murray Energy Corp., 8.625%, 6/15/21 (144A) 8.625 06/15/2021 650,000 641,868
JP Morgan Chase Commercial Mortgage Securities Trust 2014-CBM MZ, Floating Rate Note, 10/15/19 (144A 6.3975 10/15/2019 1,850,000 1,846,129
The Hanover Insurance Group, Inc., 6.35%, 3/30/53 6.35 03/30/2053 40,000 1,005,600
DaVita HealthCare Partners, Inc., 5.125%, 7/15/24 5.125 07/15/2024 1,360,000 1,419,325
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 11.0 10/01/2016 100,000 84,492
Westgate Resorts 2012-2 LLC, 9.0%, 1/21/25 (144A) 9.0 01/21/2025 1,000,000 278,465
Seminole Hard Rock Entertainment, Inc., New Term Loan B, 5/14/20 3.5 05/14/2020 295,500 292,545
Six Flags Theme Parks, Inc., Tranche B Term Loan, 12/20/18 3.5003 12/20/2018 246,231 247,462
Fitness International Llc 1st Lien Tl-B L + 4.5% 25jun20 5.5 06/25/2020 412,291 393,738
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 1,645,000 1,691,009
Citigroup, Inc., Floating Rate Note (Perpetual) 7.125 12/31/2049 63,000 1,728,090
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 12.0152 03/12/2015 250,000 255,100
Bombardier Recreational Products, Inc., Term B Loan, 1/30/19 4.0 01/30/2019 400,857 397,550
Wells Fargo Commercial Mortgage Trust 2014-TISH, Floating Rate Note, 1/15/27 (144A) 3.673 01/15/2027 1,500,000 1,481,500
Fannie Mae, 4.0%, 9/1/43 4.0 09/01/2043 528,373 523,160
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 9.5 06/24/2019 117,320 94,495
Dynegy, Inc., Tranche B-2 Term Loan, 4/23/20 4.0 04/23/2020 303,077 302,403
Axiall Corp., 4.875%, 5/15/23 4.875 05/15/2023 1,405,000 1,449,184
Ally Financial, Inc., 7.0% (Perpetual) (144A) 7.0 12/31/2049 1,600 1,612,250
Brown Shoe Co, Inc., 7.125%, 5/15/19 7.125 05/15/2019 750,000 795,289
Protection One, Inc., Term Loan (2012), 3/21/19 4.25 03/21/2019 496,186 494,532
Fannie Mae, 4.0%, 5/1/44 4.0 05/01/2044 1,445,896 1,341,273
Bank of America Corp., 7.75%, 5/14/38 7.75 05/14/2038 200,000 294,159
Intelsat Jackson Holdings SA, Tranche B-2 Term Loan, 6/30/19 3.75 06/30/2019 289,851 288,112
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 9.0152 03/12/2015 250,000 253,863
SandRidge Energy, Inc., 7.0% (Perpetual) 7.0 12/31/2049 7,500 343,125
Kane Zero% 29apr16 0.0 04/29/2016 2,100,000 2,150,610
Steward Health Care System LLC, Term Loan, 4/10/20 6.75 04/10/2020 492,500 490,185
Bear Stearns Commercial Mortgage Securities Trust 2007-PWR16, Floating Rate Note, 6/11/40 5.7072 06/11/2040 2,000,000 2,053,877
Altrl Zero% 30jun16 0.0 06/30/2016 2,501,147 1,789,571
Atrium Innovations, Inc., Initial Tranche B-1 Term Loan (First Lien), 1/29/21 4.25 01/29/2021 595,500 576,146
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 6.375 04/01/2021 500,000 539,266
Commercial Mortgage Trust 2007-GG11, Floating Rate Note, 12/10/49 6.0657 12/10/2049 1,600,000 1,685,865
West Corp., Term B-10 Loan, 6/30/18 3.25 06/30/2018 366,334 365,933
EnPro Industries, Inc., 5.875%, 9/15/22 (144A) 5.875 09/15/2022 1,235,000 1,304,700
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 5.0 08/25/2053 570,000 541,271
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 5.5 05/20/2021 1,360,000 1,389,712
JPMorgan Chase & Co., 1.0%, 9/20/17 5.0 12/20/2017 250,000 31,353
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 100,000 70,899
Wachovia Bank Commercial Mortgage Trust Series 2006-C28, Floating Rate Note, 10/15/48 5.632 10/15/2048 1,500,000 1,550,492
Legacy Reserves LP, 6.625%, 12/1/21 6.625 12/01/2021 1,300,000 1,067,314

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