Pioneer Investments: Pioneer Dynamic Credit Fund


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Pioneer Dynamic Credit Fund

Monthly Portfolio Holdings as of 3/31/2015

Security Name Coupon Maturity Date Par / Shares Market Value($)
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 0.0 12/01/2019 500,000 512,150
ORES 2014-LV3 LLC, 6.0%, 3/27/24 6.0 03/27/2024 1,000,000 1,000,667
CityCenter Holdings LLC, Term B Loan, 10/16/20 4.25 10/16/2020 227,316 228,500
Corporate Office Properties LP, 3.6%, 5/15/23 3.6 05/15/2023 155,000 152,540
Flextronics International, Ltd., 4.625%, 2/15/20 4.625 02/15/2020 585,000 616,976
CD 2005-CD1 Commercial Mortgage Trust, Floating Rate Note, 7/15/44 5.2251 07/15/2044 2,500,000 2,521,066
Pilot Travel Centers Llc 1st Lien Tl-B L + 3.25% 01oct21 4.25 10/01/2021 1,086,107 1,096,968
Laureate Education, Inc., New Series 2018 Extended Term Loan, 6/16/18 5.0 06/16/2018 540,740 510,999
Charter Communications 1st Lien Tl-B L + 3.5% 12aug21 4.25 08/12/2021 390,000 393,626
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 5.2204 02/13/2046 500,000 525,389
Firstar Realty LLC, 8.875% (Perpetual) (144A) 8.875 12/31/2049 400 507,875
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.7609 05/15/2046 220,000 196,964
Axiall Corp., 4.875%, 5/15/23 4.875 05/15/2023 1,405,000 1,420,338
Seminole Hard Rock Entertainment, Inc., New Term Loan B, 5/14/20 3.5 05/14/2020 294,750 293,829
Glencore Funding LLC, 4.125%, 5/30/23 (144A) 4.125 05/30/2023 200,000 206,452
The Goldman Sachs Group, Inc., 6.75%, 10/1/37 6.75 10/01/2037 225,000 303,031
Iap Worldwide Services Inc     4 2,697
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 720,000 706,800
Appvion, Inc., Term Commitment, 6/28/19 5.75 06/28/2019 985,000 922,206
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,050,525 1,054,622
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 9.25 06/01/2020 1,000,000 1,063,333
Nn Inc 1st Lien Tl-B L + 5% 18jul21 6.0 07/18/2021 1,362,500 1,368,461
Amgen, Inc., 5.375%, 5/15/43 5.375 05/15/2043 2,500,000 3,033,421
Telesat Canada, U.S. Term B-2 Loan, 3/28/19 3.5 03/28/2019 603,043 602,661
American Airlines Inc 1st Lien Tl-B L + 3.5% 08oct21 4.25 10/08/2021 175,000 176,458
RESI Finance LP 2003-D, Floating Rate Note, 12/10/35 (144A) 1.475 12/10/2035 6,760,000 1,117,920
Westgate Resorts 2014-1 LLC, 5.5%, 12/20/26 (144A) 5.5 12/20/2026 800,000 673,265
Resolute Forest Products, Inc., 5.875%, 5/15/23 5.875 05/15/2023 1,110,000 1,091,346
CCO Holdings LLC, 6.625%, 1/31/22 6.625 01/31/2022 600,000 647,985
Rialto Capital Management LLC, 2.85%, 5/15/24 (144A) 2.85 05/15/2024 1,000,000 257,645
Fannie Mae, 4.5%, 9/1/40 4.5 09/01/2040 2,868,485 902,603
Cequel Communications LLC, Term Loan, 2/14/19 3.5 02/14/2019 371,467 372,453
New Albertsons Inc 1st Lien Tl L + 3.75% 24jun21 4.75 06/24/2021 398,000 399,493
Pittsburgh Glass Works LLC, 8.0%, 11/15/18 (144A) 8.0 11/15/2018 481,000 523,194
Verint Systems, Inc., Tranche B Incremental Term Loan, 9/6/19 3.5 09/06/2019 368,872 369,103
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 5.658 03/15/2045 304,000 310,628
Capella Healthcare, Inc., 9.25%, 7/1/17 9.25 07/01/2017 200,000 211,750
Credit Agricole SA, Floating Rate Note, 12/31/64 (144A) 6.625 12/31/2064 1,900,000 1,907,547
NCF Dealer Floorplan Master Trust, Floating Rate Note, 10/20/20 (144A) 4.676 10/20/2020 600,000 589,347
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 4.5 10/13/2028 1,400,000 1,403,927
Talos Production LLC, 9.75%, 2/15/18 (144A) 9.75 02/15/2018 420,000 299,233
International Equipment Solutions LLC, Initial Loan, 8/16/19 6.75 08/16/2019 416,389 417,690
Frontier Communications Corp., 7.625%, 4/15/24 7.625 04/15/2024 250,000 269,102
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 1,000,000 1,015,935
KB Home, 8.0%, 3/15/20 8.0 03/15/2020 200,000 216,711
Harland Clarke Holdings Corp., Tranche B-4 Term Loan, 8/17/19 6.0 08/17/2019 319,687 321,286
Glenn Pool Oil & Gas Trust, Term Loan, 5/2/16 4.5 05/02/2016 22,861 22,804
ACA CLO 2006-2, Ltd., Floating Rate Note, 1/20/21 (144A) 0.9766 01/20/2021 500,000 493,362
Emdeon, Inc., Term B-2 Loan, 11/2/18 3.75 11/02/2018 773,937 776,356
NRG Energy, Inc., 8.25%, 9/1/20 8.25 09/01/2020 200,000 213,125
Ziggo Bv Us 1st Lien Tl-B1 L + 2.75% 15jan22 3.5 01/15/2022 554,681 551,734
RegionalCare Hospital Partners, Inc., Term Loan (First Lien), 4/21/19 6.0 04/21/2019 344,896 346,621
AXIS Equipment Finance Receivables II LLC, 4.94%, 7/20/18 (144A) 4.94 07/20/2018 1,100,000 1,114,538
Voya Financial, Inc., Floating Rate Note, 5/15/53 5.65 05/15/2053 615,000 655,802
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 5.175 03/15/2018 1,300,000 1,306,427
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 9.0101 03/16/2016 250,000 261,650
Icon Brand Holdings LLC, 4.352%, 1/25/43 (144A) 4.352 01/25/2043 250,000 226,969
EnPro Industries, Inc., 5.875%, 9/15/22 (144A) 5.875 09/15/2022 1,235,000 1,290,712
MMM Holdings, Inc., MMM Term Loan, 12/12/17 9.75 12/12/2017 25,608 22,727
US Renal Care, Inc., Tranche B-2 Term Loan (First Lien), 7/3/19 4.25 07/03/2019 740,111 742,193
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 330,000 357,264
Sealy Corp., 8.0%, 7/15/16 (PIK) 8.0 07/15/2016 13,100 1,112,452
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 5.55 10/28/2020 500,000 490,609
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3.5 08/23/2019 554,669 555,593
Protection One, Inc., Term Loan (2012), 3/21/19 4.25 03/21/2019 494,915 495,636
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 4.2787 05/23/2018 750,000 753,523
Bank of America Corp., Floating Rate Note, 10/23/49 6.5 10/23/2049 575,000 624,466
Caraustar Industries, Inc., Term Loan, 5/1/19 8.0 05/01/2019 202,339 202,086
GS Mortgage Securities Trust 2014-GSFL, Floating Rate Note, 7/15/31 (144A) 4.0745 07/15/2031 705,000 704,128
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.5545 04/10/2038 1,000,000 1,008,230
Citigroup, Inc., Floating Rate Note (Perpetual) 7.125 12/31/2049 63,000 1,741,320
NPC International, Inc., Term Loan, 12/28/18 4.0 12/28/2018 560,467 552,761
Syncreon Group BV, Term Loan, 9/26/20 5.25 09/26/2020 696,482 670,364
CenturyLink, Inc., 7.65%, 3/15/42 7.65 03/15/2042 1,300,000 1,333,670
Wachovia Bank Commercial Mortgage Trust Series 2005-C22, Floating Rate Note, 12/15/44 5.3607 12/15/2044 1,600,000 1,623,414
Air Medical Group Holdings, Inc., B-1 Term Loan, 6/30/18 5.0 06/30/2018 247,399 247,863
Allegion US Holding Co, Inc., 5.75%, 10/1/21 5.75 10/01/2021 930,000 998,588
Select Medical Corp., Series E Tranche B Term Loan, 6/1/18 3.75 06/01/2018 20,527 20,552
ZIGGO BV, (USD) TLB3, 1/15/22 3.5 01/15/2022 587,872 584,750
Albertsons LLC, Term B-2 Loan, 3/21/19 5.375 03/21/2019 894,254 900,821
Transportadora de Gas del Peru SA, 4.25%, 4/30/28 (144A) 4.25 04/30/2028 300,000 303,758
Springleaf Funding Trust 2013-A, 5.0%, 9/15/21 (144A) 5.0 09/15/2021 500,000 501,270
Darling Ingredients, Inc., 5.375%, 1/15/22 5.375 01/15/2022 1,060,000 1,079,978
Alkermes, Inc., 2019 Term Loan, 9/25/19 3.5 09/25/2019 687,943 689,663
Kane Flt% 14jul15 0.0 07/14/2015 713,104 701,837
Merna Re V, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 2.0203 04/07/2017 500,000 500,628
CNO Financial Group, Inc., 6.375%, 10/1/20 (144A) 6.375 10/01/2020 650,000 706,469
Intelsat Jackson Holdings SA, 7.25%, 4/1/19 7.25 04/01/2019 250,000 268,188
WFRBS Commercial Mortgage Trust 2011-C4, Floating Rate Note, 6/17/44 (144A) 5.245 06/17/2044 50,000 54,712
International Automotive Components Group SA, 9.125%, 6/1/18 (144A) 9.125 06/01/2018 400,000 418,667
Halyard Health Inc 1st Lien Tl-B L + 3.25% 03oct21 4.0 10/03/2021 498,750 504,441
Countrywide Asset-Backed Certificates, Floating Rate Note, 6/25/34 (144A) 0.3438 06/25/2034 9,809,888 269,363
Aegis Toxicology Corp 1st Lien Tl-B L + 4.5% 20feb21 5.5 02/20/2021 223,875 225,274
Univar, Inc., Term B Loan, 6/30/17 5.0 06/30/2017 265,133 265,195
Frontier Communications Corp., 9.0%, 8/15/31 9.0 08/15/2031 200,000 216,300
Vantiv LLC, Term B Loan, 6/12/21 3.75 06/12/2021 327,113 328,950
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 5.1 08/15/2038 1,400,000 1,303,477
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 533,600 535,147
Nations Equipment Finance Funding II LLC, 5.227%, 9/20/19 (144A) 5.227 09/20/2019 1,499,000 1,436,135
The Ryland Group, Inc., 5.375%, 10/1/22 5.375 10/01/2022 95,000 97,316
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 4.939 07/10/2039 890,000 885,989
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 5.85 05/21/2043 1,550,000 1,148,744
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 6.75 08/29/2049 2,360,000 2,587,150
Unifrax I LLC, 7.5%, 2/15/19 (144A) 7.5 02/15/2019 630,000 639,188
SandRidge Energy, Inc., 7.0% (Perpetual) 7.0 12/31/2049 7,500 289,688
ACRE Commercial Mortgage Trust 2014-FL2, Floating Rate Note, 8/15/31 (144A) 3.5719 08/15/2031 1,400,000 1,390,904
FCA US LLC, Tranche B Term Loan, 12/29/18 3.25 12/29/2018 2,009,813 2,009,394
Commonwealth of the Bahamas, 5.75%, 1/16/24 (144A) 5.75 01/16/2024 1,700,000 1,828,740
Pro Mach Group, Inc., Dollar Term Loan (First Lien), 10/20/21 5.5 10/20/2021 330,315 333,154
Live Nation Entertainment, Inc., Term B-1 Loan, 8/17/20 3.5 08/17/2020 421,580 420,614
j2 Global, Inc., 8.0%, 8/1/20 8.0 08/01/2020 705,000 770,800
InterGen NV, 7.0%, 6/30/23 (144A) 7.0 06/30/2023 1,050,000 1,034,454
DuPont Fabros Technology LP, 5.875%, 9/15/21 5.875 09/15/2021 1,000,000 1,035,111
Accudyne Industries Borrower SCA, Refinancing Term Loan, 12/13/19 4.0 12/13/2019 687,677 654,153
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 7.25 05/01/2019 400,000 418,083
HJ Heinz Co., Term B-2 Loan, 6/5/20 3.25 06/05/2020 262,050 262,557
MGM Resorts International, Term B Loan, 12/20/19 3.5 12/20/2019 263,925 263,458
Citadel Plastics Holdings Inc 1st Lien Tlb L + 4.25% 05nov20 5.2531 11/05/2020 367,000 367,918
INEOS Group Holdings SA, 5.875%, 2/15/19 (144A) 5.875 02/15/2019 600,000 597,754
Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A) 6.5 02/24/2021 525,000 627,083
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 595,000 433,474
Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 7/25/34 2.4676 07/25/2034 406,549 61,113
VOLT XXIV LLC, 4.75%, 11/25/53 (Step) 4.75 11/25/2053 1,000,000 997,792
Monty Parent Issuer 1 LLC, 4.25%, 11/20/28 (144A) 4.25 11/20/2028 1,750,000 712,902
Penn Virginia Corp., 7.25%, 4/15/19 7.25 04/15/2019 600,000 563,058
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 10.5 12/15/2018 100,000 108,692
Steward Health Care System LLC, Term Loan, 4/10/20 6.75 04/10/2020 491,250 490,476
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 6.75 12/31/2049 750,000 842,606
Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A) 7.506 12/31/2049 1,335,000 1,432,086
Apr15 Vix C @ 16.000000   04/15/2015 500 61,250
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 4.1512 04/30/2018 350,000 355,408
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.63 10/12/2017 2,000,000 256,842
Mpg Holdco I Inc 1st Lien Tl-B L + 3.5% 13oct21 4.25 10/13/2021 1,738,064 1,749,077
CAM Mortgage Trust 2014-2, Floating Rate Note, 5/15/48 (144A) 4.45 05/15/2048 400,000 402,187
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 800,000 157,317
Crowne Group Llc 1st Lien Tl-B L + 5% 29sep20 6.0 09/29/2020 572,125 568,907
CAM Mortgage Trust 2014-1, 5.5%, 12/15/53 (Step) (144A) 5.5 12/15/2053 750,000 304,021
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 6.7525 05/23/2019 172,375 173,237
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 6/25/33 5.4479 06/25/2033 1,749,811 324,906
Crown Castle 1st Lien Term-B2 L + 2.5% 31jan21 3.0 01/31/2021 650,503 649,853
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 4.7652 04/30/2018 650,000 665,649
Dynegy, Inc., Tranche B-2 Term Loan, 4/23/20 4.0 04/23/2020 302,308 303,198
COMM 2012-CCRE4 Mortgage Trust, Floating Rate Note, 10/17/45 (144A) 4.5755 10/17/2045 303,000 305,789
Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A) 8.5 05/15/2020 700,000 872,529
Calpine Corp., Term Loan (10/12), 10/9/19 4.0 10/09/2019 439,239 441,008
Immucor, Inc., Term B-2 Loan, 8/19/18 5.0 08/19/2018 440,365 442,705
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 4.25 07/01/2021 126,457 126,562
Pacific Drilling SA, Term Loan, 6/3/18 4.5 06/03/2018 205,927 171,589
Prestige Brands, Inc., Term B-1 Loan, 1/31/19 4.125 01/31/2019 236,699 237,661
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 3.5425 05/05/2017 1,000,000 1,001,150
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 100,000 108,797
Securus Technologies Holdings, Inc., Initial Term Loan (First Lien), 4/30/20 4.75 04/30/2020 492,995 487,448
Qwest Corp., 7.375%, 6/1/51 7.375 06/01/2051 4,400 115,632
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 5.25 04/08/2020 205,097 204,649
Morgan Stanley Capital I, Inc., Floating Rate Note, 7/15/32 (144A) 7.2639 07/15/2032 105,000 7,585
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 5.125 08/01/2022 1,000,000 996,042
Armacell International GmbH, Term Loan B (First Lien), 7/2/20 5.5 07/02/2020 493,750 494,984
Genpact International, Inc., Term Loan, 8/30/19 3.5 08/30/2019 319,193 320,231
PDL BioPharma, Inc., 4.0%, 2/1/18 4.0 02/01/2018 593,000 571,380
Cummins, Inc., 5.65%, 3/1/98 5.65   350,000 412,960
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 345,000 346,251
Belden, Inc., 5.5%, 9/1/22 (144A) 5.5 09/01/2022 1,360,000 1,400,233
Citigroup Mortgage Loan Trust, Inc., 6.75%, 9/25/34 6.75 09/25/2034 300,000 58,948
Blackstone Holdings Finance Co LLC, 6.25%, 8/15/42 (144A) 6.25 08/15/2042 750,000 964,315
CHS, 6.875%, 2/1/22 6.875 02/01/2022 1,495,000 1,614,911
JP Morgan Chase Commercial Mortgage Securities Trust 2014-CBM MZ, Floating Rate Note, 10/15/19 (144A 6.3995 10/15/2019 1,850,000 1,858,891
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 7.25 01/15/2018 700,000 731,714
Sirius XM Radio, Inc., 4.625%, 5/15/23 (144A) 4.625 05/15/2023 830,000 813,377
Gannett Co, Inc., 6.375%, 10/15/23 6.375 10/15/2023 1,120,000 1,248,123
GRIFOLS WORLDWIDE OPERATIONS USA INC, U.S. Tranche B Term Loam, 4/1/21 3.178 04/01/2021 99,000 99,019
Jazz Pharmaceuticals, Inc., Tranche 2 Term Loan, 6/12/18 3.25 06/12/2018 336,350 337,682
Avis Budget Car Rental LLC, 5.5%, 4/1/23 5.5 04/01/2023 1,220,000 1,288,625
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 5.625 04/17/2020 400,000 369,050
Vitality Re V, Ltd., Floating Rate Note, 1/7/19 (Cat Bond) (144A) 2.5152 01/07/2019 250,000 255,513
Delta Air Lines, Inc., 2014 Term B-1 Loan, 10/18/18 3.25 10/18/2018 171,063 171,246
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 11.8349 11/10/2016 500,000 535,849
Transfield Services, Ltd., 8.375%, 5/15/20 (144A) 8.375 05/15/2020 805,000 882,794
Navios Maritime Partners LP, Term Loan, 6/27/18 5.25 06/27/2018 375,860 379,149
Xerium Technologies, Inc., 8.875%, 6/15/18 8.875 06/15/2018 798,000 844,788
NEXEO SOLUTIONS LLC, Term B-3 Loan, 9/9/17 5.0 09/09/2017 740,625 722,572
Hawaiian Airlines 2013-1 Class A Pass Through Certificates, 3.9%, 1/15/26 3.9 01/15/2026 105,000 104,224
U.S. Treasury Inflation Indexed Bonds, 0.125%, 7/15/24 0.125 07/15/2024 16,600,000 16,338,938
RJS Power Holdings LLC, 5.125%, 7/15/19 (144A) 5.125 07/15/2019 1,880,000 1,872,141
DaVita HealthCare Partners, Inc., Tranche B Term Loan, 6/19/21 3.5 06/19/2021 63,023 63,253
CHS, 2021 Term D Loan, 1/27/21 4.25 01/27/2021 343,752 345,829
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 1,200,000 550,500
Seadrill Operating LP, Initial Term Loan, 2/14/21 4.0 02/14/2021 839,375 669,177
Murray Energy Corp., 8.625%, 6/15/21 (144A) 8.625 06/15/2021 650,000 695,757
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 294,350 295,616
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 525,000 492,958
Henniges Automotive Holdings Inc 1st Lien Tl-B L + 5% 11jun21 5.5 06/11/2021 1,716,375 1,733,539
Westgate Resorts 2012-2 LLC, 9.0%, 1/21/25 (144A) 9.0 01/21/2025 1,000,000 257,825
COBALT CMBS Commercial Mortgage Trust 2007-C2, Floating Rate Note, 4/15/47 5.568 04/15/2047 1,200,000 1,232,730
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 7.25 04/03/2024 500,000 527,924
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 75,000 83,026
PQ Corp., 2014 Term Loan, 8/7/17 4.0 08/07/2017 684,250 682,617
JinkoSolar Holding Co, Ltd., 4.0%, 2/1/19 (144A) 4.0 02/01/2019 1,455,000 1,365,578
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/7/17 (Cat Bond) (144A) 5.0051 02/07/2017 1,000,000 1,011,787
Fannie Mae, 3.5%, 5/1/44 3.5 05/01/2044 6,475,000 6,173,430
HLSS Servicer Advance Receivables Trust, 4.4584%, 1/15/48 (144A) 4.4584 01/15/2048 400,000 395,672
Sotheby's, 5.25%, 10/1/22 (144A) 5.25 10/01/2022 1,135,000 1,144,931
HSBC Bank USA NA New York NY, 6.0%, 8/9/17 6.0 08/09/2017 250,000 276,532
Morgan Stanley, 4.875%, 11/1/22 4.875 11/01/2022 250,000 278,119
Prudential Financial, Inc., Floating Rate Note, 9/15/42 5.875 09/15/2042 1,500,000 1,633,292
Mirabela Nickel, Ltd.     922,916 98,353
TMX Finance LLC, 8.5%, 9/15/18 (144A) 8.5 09/15/2018 1,035,000 738,760
NCR Corp., 5.0%, 7/15/22 5.0 07/15/2022 685,000 699,081
Aircastle, Ltd., 6.25%, 12/1/19 6.25 12/01/2019 600,000 672,128
SNAAC Auto Receivables Trust 2013-1, 4.56%, 4/15/20 (144A) 4.56 04/15/2020 450,000 465,496
WESCO Distribution, Inc., Tranche B-1 Loan, 12/12/19 3.75 12/12/2019 165,030 165,512
ML-CFC Commercial Mortgage Trust 2006-4, 5.239%, 12/12/49 5.239 12/12/2049 2,000,000 2,028,592
COMM 2006-C8 Mortgage Trust, 5.377%, 12/10/46 5.377 12/10/2046 2,000,000 2,047,124
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 5.82 06/15/2019 750,000 755,972
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 8.133 09/24/2073 1,190,000 1,434,159
Cepheid, 1.25%, 2/1/21 1.25 02/01/2021 545,000 606,426
Silver Bay Realty 2014-1 Trust, Floating Rate Note, 9/18/31 (144A) 3.4245 09/18/2031 1,200,000 1,200,725
Radio Systems Corp., 8.375%, 11/1/19 (144A) 8.375 11/01/2019 600,000 667,438
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 400,000 25,520
GE Business Loan Trust 2005-1, Floating Rate Note, 6/15/33 (144A) 0.8745 06/15/2033 2,500,000 577,088
JLL, Initial Dollar Term Loan, 1/23/21 4.2531 01/23/2021 447,750 446,351
Commercial Mortgage Trust 2007-GG11, Floating Rate Note, 12/10/49 6.0625 12/10/2049 1,600,000 1,703,839
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 8.625 12/31/2049 450,000 360,272
Eco Services Operations Llc 1st Lien Tl-B L + 3.75% 10oct21 4.75 10/10/2021 573,563 577,147
Drug Royalty II LP 2, Floating Rate Note, 7/15/23 (144A) 3.1033 07/15/2023 750,000 717,619
Fannie Mae, 4.0%, 5/1/44 4.0 05/01/2044 1,445,896 1,282,608
Aspen Insurance Holdings, Ltd., Floating Rate Note (Perpetual) 5.95 12/31/2049 25,000 642,000
Kane Flt% 12jun15   06/12/2015 1,100,000 1,076,900
Seagate HDD Cayman, 4.75%, 1/1/25 (144A) 4.75 01/01/2025 1,100,000 1,152,104
Fannie Mae, 0.5%, 12/15/33 0.5 12/15/2033 1,265,000 1,298,487
La Hipotecaria Panamanian Mortgage Trust 2007-1, Floating Rate Note, 12/23/36 (144A) 4.25 12/23/2036 1,800,000 820,926
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 10.0 08/15/2021 800,000 766,222
Enel Finance International NV, 5.125%, 10/7/19 (144A) 5.125 10/07/2019 150,000 171,495
Avg Technologies Nv 1st Lien Tl-B L + 4.75% 07oct20 5.75 10/07/2020 1,246,875 1,246,096
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 5.623 05/12/2045 1,400,000 1,435,417
Quebecor Media, Inc., 5.75%, 1/15/23 5.75 01/15/2023 825,000 863,718
Generac Power Systems, Inc., Term Loan B, 5/31/20 3.25 05/31/2020 632,400 631,741
Targus Group International, Inc., Term Loan, 5/24/16 14.75 05/24/2016 225 183
Hilton USA Trust 2013-HLF, Floating Rate Note, 11/5/30 (144A) 2.923 11/05/2030 1,900,000 1,880,239
Pinnacle Foods Finance LLC, New Term Loan G, 4/29/20 3.0 04/29/2020 172,960 172,512
JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP7 REMICS, Floating Rate Note, 4/15/45 6.057 04/15/2045 1,400,000 1,409,329
Bear Stearns ALT-A Trust 2003-3, Floating Rate Note, 10/25/33 2.0583 10/25/2033 23,000,000 144,293
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 5.0 12/20/2019 489,793 490,304
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 540,000 567,090
ACCELLENT INC, Initial Term Loan (First Lien), 2/21/21 4.5 02/21/2021 918,063 913,329
Houghton Mifflin Harcourt Publishers, Inc., Term Loan, 5/22/18 4.25 05/22/2018 107,369 107,012
Swift Energy Co., 7.875%, 3/1/22 7.875 03/01/2022 1,435,000 583,417
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 4.4815 02/21/2049 1,200,000 1,208,226
American Airlines, Inc., Class B Term Loan, 6/27/19 3.75 06/27/2019 343,875 344,366
Approach Resources, Inc., 7.0%, 6/15/21 7.0 06/15/2021 1,000,000 915,611
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 7.5 04/09/2015 750,000 763,750
ConvaTec, Inc., Dollar Term Loan, 12/22/16 4.0 12/22/2016 92,917 93,322
Kane Zero% 29apr16 0.0 04/29/2016 2,100,000 2,177,280
Ooredoo International Finance, Ltd., 3.875%, 1/31/28 (144A) 3.875 01/31/2028 200,000 198,332
New World Resources NV, 4.0%, 10/7/20 (PIK) 4.0 10/07/2020 67,741 19,517
Griffon Corp., 5.25%, 3/1/22 5.25 03/01/2022 1,375,000 1,362,591
Terex Corp., U.S. Term Loan, 8/13/21 3.5 08/13/2021 110,501 110,847
Level 3 Financing Inc 1st Lien Tl-B5 L + 3.5% 31jan22 4.5 01/31/2022 1,000,000 1,006,518
Gator Re, Ltd., Floating Rate Note, 1/9/17 (Cat Bond) (144A) 6.7003 01/09/2017 600,000 563,103
Epiq Systems, Inc., Term Loan, 8/27/20 4.5 08/27/2020 589,902 591,377
Frontier Communications Corp., 6.25%, 9/15/21 6.25 09/15/2021 200,000 201,056
Bayview Opportunity Master Fund Trust 2014-15RPL, Floating Rate Note, 10/28/19 (144A) 3.721 10/28/2019 1,750,000 1,562,893
Outerwall, Inc., 5.875%, 6/15/21 (144A) 5.875 06/15/2021 985,000 906,002
Bankrate, Inc., 6.125%, 8/15/18 (144A) 6.125 08/15/2018 1,150,000 1,144,625
Ally Financial, Inc., 7.0% (Perpetual) (144A) 7.0 12/31/2049 800 821,125
Landry's, Inc., B Term Loan, 4/24/18 4.0 04/24/2018 419,813 421,125
Altrl Zero% 30jun16 0.0 06/30/2016 2,501,147 1,796,574
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 1,395,625 1,409,146
MacDermid, Inc., Tranche B Term Loan (First Lien), 6/7/20 4.5 06/07/2020 1,432,087 1,439,886
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 100,000 107,637
STORE Master Funding LLC, 4.16%, 3/20/43 (144A) 4.16 03/20/2043 200,000 199,979
Shearers Foods Llc 1st Lien Tl L + 3.5% 19jun21 4.5 06/19/2021 945,250 943,478
Garda World Security Corp., Term B Delayed Draw Loan, 11/8/20 4.0 11/08/2020 52,277 52,125
Citrus Re, Ltd., Floating Rate Note, 4/18/17 (Cat Bond) (144A) 4.2753 04/18/2017 250,000 248,059
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 5.375 11/15/2021 200,000 210,256
14112z Zero% 01feb19 0.0 02/01/2019 2,000,000 2,084,800
Morgan Stanley Capital I Trust 2007-TOP25, Floating Rate Note, 11/12/49 5.574 11/12/2049 1,800,000 1,860,946
Berkeley-Kane Flt% 12jun15   06/12/2015 1,004,200 1,051,598
US Airways, Inc., Tranche B-1 Term Loan (Consenting), 5/23/19 3.5 05/23/2019 612,563 611,907
Advanced Micro Devices, Inc., 7.5%, 8/15/22 7.5 08/15/2022 445,000 430,352
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 12.0 07/01/2019 1,129,903 1,096,006
GS Mortgage Securities Corp Trust 2014-NEW, 3.79%, 1/10/31 (144A) 3.79 01/10/2031 1,000,000 982,288
Wastequip LLC, Term Loan, 8/9/19 5.5 08/09/2019 491,250 491,557
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 7.0 05/15/2018 865,000 879,224
Fieldwood Energy LLC, Closing Date Loan, 9/25/18 3.875 09/25/2018 246,869 231,440
Prestige Brands, Inc., Term B-2 Loan, 8/18/21 4.5 08/18/2021 916,667 921,479
WireCo WorldGroup, Inc., Term Loan, 2/15/17 6.0 02/15/2017 48,288 48,288
Morgan Stanley, Floating Rate Note (Perpetual) 6.375 12/31/2049 96,200 2,505,048
A10 Securitization 2013-1 LLC, 6.41%, 11/17/25 (144A) 6.41 11/17/2025 139,000 139,475
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 500,000 561,946
Fitness International Llc 1st Lien Tl-B L + 4.5% 25jun20 5.5 06/25/2020 411,255 384,524
Navistar, Inc., Tranche B Term Loan, 8/17/17 5.75 08/17/2017 120,000 120,725
Amsurg Corp., 5.625%, 7/15/22 5.625 07/15/2022 545,000 563,734
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/9/19 (144A) 4.925 05/09/2019 300,000 276,964
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 490,000 521,335
Lehman Brothers Small Balance Commercial Mortgage Trust 2006-3, Floating Rate Note, 12/25/36 (144A) 0.3738 12/25/2036 0 -8
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 8.7551 12/06/2016 600,000 610,512
Bright Horizons Family Solutions, Inc., Term B Loan, 1/30/20 4.0 01/30/2020 787,223 790,012
Atlantic Power LP, Term Loan, 2/20/21 4.75 02/20/2021 1,416,712 1,425,566
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 6.2084 02/15/2051 1,725,000 1,770,262
MedAssets, Inc., Term B Loan, 12/13/19 4.0 12/13/2019 323,000 322,596
Gray Television Inc. 1st Lien Tl L + 3% 10jun21 3.75 06/10/2021 498,306 498,555
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 2,500 314,500
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 7.5043 03/01/2022 200,000 191,001
Scientific Games International Inc 1st Lien Tl-B2 L + 5% 17sep21 6.0 09/17/2021 1,620,938 1,626,791
Federal Home Loan Mortgage Corp., 4.5%, 6/1/41 4.5 06/01/2041 2,749,325 893,078
Marfrig Holding Europe BV, 8.375%, 5/9/18 (144A) 8.375 05/09/2018 200,000 195,607
NuVasive, Inc., 2.75%, 7/1/17 2.75 07/01/2017 622,000 780,999
Multi Packaging Solutions, Inc., Initial Dollar Tranche B Term, 9/30/20 4.25 09/30/2020 247,500 246,675
NSG Holdings LLC, New Term Loan, 12/11/19 3.75 12/11/2019 216,810 216,539
Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A) 8.75 12/15/2019 750,000 784,323
Oasis Petroleum, Inc., 6.875%, 3/15/22 6.875 03/15/2022 18,000 17,605
Interactive Data 1st Lien Tl-B L + 3.75% 24apr21 4.75 04/24/2021 39,209 39,448
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 100,000 70,620
Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 6.625 04/07/2021 500,000 605,435
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 6.75 07/15/2021 1,005,000 1,039,421
Kindred Healthcare 1st Lien Tl-B L + 3% 10apr21 4.25 04/10/2021 490,050 493,011
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 250,000 170,626
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 0.0 09/18/2017 800,000 841,280
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 5.0 08/25/2053 570,000 543,907
FCI - FIDJI LUXEMBOURG BC4 SARL, Term Loan, 12/19/20 6.25 12/19/2020 399,000 400,247
Paragon Offshore Finance Co Tl-B L + 2.75% 11jul21 3.75 07/11/2021 288,550 196,249
Altrl Zero% 30jun17 0.0 06/30/2017 600,000 608,880
Carefree Portfolio Trust 2014-CARE, Floating Rate Note, 11/15/29 (144A) 2.7587 11/15/2029 500,000 463,117
American Airlines 2014-1 Class B Pass Through Trust, 4.375%, 10/1/22 4.375 10/01/2022 1,550,000 1,565,182
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 5.5 05/20/2021 1,360,000 1,378,470
DigitalGlobe, Inc., Term Loan, 1/31/20 3.75 01/31/2020 692,419 694,319
KB Home, 7.0%, 12/15/21 7.0 12/15/2021 500,000 519,056
GAHR Commericial Mortgage Trust 2015-NRF, 3.38216%, 12/15/19 (144A) 3.3822 12/15/2019 820,000 785,404
CNL Commercial Mortgage Loan Trust 2003-1, Floating Rate Note, 5/15/31 (144A) 0.6745 05/15/2031 5,908,000 450,435
Bank of America Corp., 6.11%, 1/29/37 6.11 01/29/2037 625,000 767,634
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6.0 12/31/2049 14,300 870,727
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 9.875 02/01/2020 300,000 320,687
Fixed Income Trust Series 2013-A, 0.0%, 10/15/97 (Step) (144A) 0.0   1,000,000 734,782
Fly Funding II Sarl, Loan, 8/8/18 4.5 08/08/2018 715,577 719,155
Energy & Exploration Partners, Inc., 8.0%, 7/1/19 (144A) 8.0 07/01/2019 1,520,000 592,800
Vers 2015-A Zero% 31dec17 0.0 12/31/2017 2,000,000 2,052,000
US Airways, Inc., Tranche B-2 Term Loan (Consenting), 11/23/16 3.0 11/23/2016 525,937 525,499
Arcelik AS, 5.0%, 4/3/23 (144A) 5.0 04/03/2023 400,000 391,689
Southern California Edison Co., Floating Rate Note (Perpetual) 6.25 12/31/2049 75,000 84,781
Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A) 5.625 03/30/2043 1,665,000 1,887,160
Altisource Solutions Sarl, Term B Loan, 12/9/20 4.5 12/09/2020 1,132,347 832,275
Inkia Energy, Ltd., 8.375%, 4/4/21 (144A) 8.375 04/04/2021 100,000 107,368
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/37 (Step) 6.407 08/28/2037 1,288,834 60,641
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 1,190,000 1,258,177
Springs Industries, Inc., 6.25%, 6/1/21 6.25 06/01/2021 400,000 403,333
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8.25 10/19/2019 800,000 147,700
T-Mobile USA, Inc., 6.625%, 4/1/23 6.625 04/01/2023 1,500,000 1,619,063
Legacy Reserves LP, 6.625%, 12/1/21 6.625 12/01/2021 1,300,000 1,055,708
Essar Steel Algoma Inc 1st Lien Tl-B L + 6.5% 07aug19 7.5031 08/07/2019 348,250 334,610
Fly Leasing, Ltd., 6.375%, 10/15/21 6.375 10/15/2021 1,375,000 1,404,591
United Continental Holdings, Inc., 6.0%, 7/15/26 6.0 07/15/2026 1,475,000 1,493,683
Kane Zero% 22jan16 0.0 01/22/2016 500,000 508,900
Reliance Steel & Aluminum Co., 4.5%, 4/15/23 4.5 04/15/2023 1,940,000 2,000,078
inVentiv Health, Inc., Term B-3 Loan, 5/15/18 7.75 05/15/2018 132,691 132,801
West Corp., Term B-10 Loan, 6/30/18 3.25 06/30/2018 366,334 366,105
Geely Automobile Holdings, Ltd., 5.25%, 10/6/19 (144A) 5.25 10/06/2019 950,000 1,003,695
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 5.875 06/24/2019 405,000 423,257
B&G Foods, Inc., 4.625%, 6/1/21 4.625 06/01/2021 400,000 405,667
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 10.7904 04/10/2015 650,000 665,405
Avago Technologies Ltd 1st Lien Tl-B L + 3% 16apr21 3.75 04/16/2021 259,055 259,913
UBS AG, 7.625%, 8/17/22 7.625 08/17/2022 1,050,000 1,283,306
Orange Lake Timeshare Trust 2012-A, 4.87%, 3/10/27 (144A) 4.87 03/10/2027 600,000 269,174
Zebra Technologies Corp., 7.25%, 10/15/22 (144A) 7.25 10/15/2022 1,105,000 1,227,578
Federal Home Loan Mortgage Corp., Floating Rate Note, 5/25/45 (144A) 4.0365 05/25/2045 175,000 180,480
GLC Trust 2013-1, 3.0%, 7/15/21 (144A) 3.0 07/15/2021 1,500,000 1,074,515
COMM 2014-KYO Mortgage Trust, Floating Rate Note, 6/11/27 (144A) 3.677 06/11/2027 1,400,000 1,399,528
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 4.4 04/15/2019 150,000 151,438
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 5.625 12/15/2016 200,000 204,063
Residential Reinsurance 2013, Ltd., Floating Rate Note, 12/6/19 (Cat Bond) (144A) 20.0051 12/06/2019 250,000 257,461
Emergent Biosolutions, Inc., 2.875%, 1/15/21 2.875 01/15/2021 670,000 778,335
Booz Allen Hamilton, Inc., Refinance Tranche B, 7/31/19 3.75 07/31/2019 124,031 124,780
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 11.0 03/31/2021 79,000 76,259
FREMF Mortgage Trust 2013-K28, Floating Rate Note, 6/25/46 (144A) 3.4947 06/25/2046 1,000,000 990,299
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.7609 05/15/2046 715,000 682,853
The Ryland Group, Inc., 0.25%, 6/1/19 0.25 06/01/2019 1,000,000 974,583
Microsemi Corp., Term Loan (2014), 3/14/21 3.25 03/14/2021 175,289 175,377
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 800,000 720,678
Wells Fargo Commercial Mortgage Trust 2010-C1, 4.0%, 11/18/43 (144A) 4.0 11/18/2043 100,000 95,453
Air Canada 2013-1 Class A Pass Through Trust, 4.125%, 11/15/26 (144A) 4.125 11/15/2026 500,000 508,571
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 6.375 04/01/2021 500,000 540,938
Navitas Equipment Receivables LLC 2015-1, 5.75%, 5/17/21 (144A) 5.75 05/17/2021 710,500 711,062
Wausau Paper 1st Lien Tl-B L + 5.5% 20jul20 6.5 07/20/2020 1,091,750 1,099,938
NRG Energy, Inc., 7.625%, 1/15/18 7.625 01/15/2018 900,000 1,005,613
Atlas IX Capital, Ltd., Floating Rate Note, 1/17/19 (Cat Bond) (144A) 3.4452 01/17/2019 250,000 258,004
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 5.0 02/15/2018 760,728 742,503
Polarpak, Inc., USD Term Loan (U.S. Borrower Portion), 6/7/20 4.5 06/07/2020 232,502 231,631
Virgin Media Secured Finance Plc, 5.375%, 4/15/21 (144A) 5.375 04/15/2021 500,000 536,767
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 6.0 07/25/2034 500,000 96,782
Tank Holding Corp., Initial Term Loan, 7/9/19 5.25 07/09/2019 660,961 664,266
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 5.75 08/25/2036 1,200,000 177,991
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 700,000 670,979
Belden, Inc., 5.5%, 4/15/23 (144A) 5.5 04/15/2023 300,000 354,257
Leaf Receivables Funding 8 LLC, 5.5%, 9/15/20 (144A) 5.5 09/15/2020 358,317 363,707
Sierra Timeshare 2011-3 Receivables Funding LLC, 9.31%, 7/20/28 (144A) 9.31 07/20/2028 750,000 187,569
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 5.0 08/16/2020 443,087 441,056
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 5.375 07/15/2022 1,150,000 1,137,174
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 7.25 05/01/2022 600,000 600,125
World Kitchen LLC, U.S. Term Loan, 3/4/19 5.5 03/04/2019 185,571 185,803
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 7.78 03/25/2027 5,850,000 250,976
Kindred Healthcare, Inc., 6.375%, 4/15/22 6.375 04/15/2022 400,000 415,258
Windstream Corp., Tranche B-4 Term Loan, 1/23/20 3.5 01/23/2020 195,990 196,112
DynCorp International, Inc., Term Loan, 7/7/16 6.25 07/07/2016 65,805 65,476
Foresight Energy LLC, Term Loan, 8/21/20 5.5 08/21/2020 249,073 246,271
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 9.75 12/12/2017 18,617 16,522
Envision Healthcare Corp., Initial Term Loan, 5/25/18 4.0 05/25/2018 293,143 294,472
First Data Corp., 2018 New Dollar Term Loan, 3/24/18 3.674 03/24/2018 500,000 500,365
WR Grace & Co-Conn, U.S. Term Loan, 1/23/21 2.75 01/23/2021 478,953 479,680
Endo Finance LLC, 5.375%, 1/15/23 (144A) 5.375 01/15/2023 875,000 882,741
Tribune Media Co., Initial Term Loan, 11/20/20 4.0 11/20/2020 500,000 501,063
Pangaea Zero% 01jul18 0.0 07/01/2018 2,000,000 2,180,400
MDC Holdings, Inc., 5.5%, 1/15/24 5.5 01/15/2024 890,000 878,084
RCMC LLC, 5.62346%, 12/17/18 (144A) 5.6235 12/17/2018 250,000 119,490
McKesson Corp., 4.883%, 3/15/44 4.883 03/15/2044 1,500,000 1,724,670
CHS, 8.0%, 11/15/19 8.0 11/15/2019 1,075,000 1,174,676
Crown Americas Llc 1st Lien Tl-B L + 3.25% 20oct21 4.0 10/20/2021 648,375 655,416
Steel Dynamics, Inc., 5.125%, 10/1/21 (144A) 5.125 10/01/2021 930,000 962,556
Oversea-Chinese Banking Corp, Ltd., Floating Rate Note, 10/15/24 (144A) 4.0 10/15/2024 425,000 450,799
CommScope, Inc., Tranche 3 Term Loan, 1/21/17 2.8283 01/21/2017 104,470 104,339
Cardtronics, Inc., 1.0%, 12/1/20 1.0 12/01/2020 1,000,000 992,708
Tenet Healthcare Corp., 4.375%, 10/1/21 4.375 10/01/2021 1,480,000 1,462,888
CommScope, Inc., Tranche 4 Term Loan, 1/14/18 3.25 01/14/2018 156,705 156,736
Fannie Mae, 4.0%, 9/1/43 4.0 09/01/2043 528,373 519,483
Wells Fargo Commercial Mortgage Trust 2014-TISH, Floating Rate Note, 1/15/27 (144A) 3.6745 01/15/2027 1,500,000 1,484,438
CSMC Trust 2014-SURF, Floating Rate Note, 2/15/29 (144A) 3.2745 02/15/2029 2,000,000 2,000,758
Rent-A-Center, Inc., 6.625%, 11/15/20 6.625 11/15/2020 930,000 897,476
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 550,600 551,756
Wells Fargo & Co., 7.5% (Perpetual) 7.5 12/31/2049 1,050 1,284,150
Scds: (Do) Usd 20dec19 Buy Bnr1c7tr9 1.0 12/20/2019 2,000,000 -186,219
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 10.0051 06/06/2016 500,000 535,961
NRG Energy, Inc., 6.25%, 5/1/24 6.25 05/01/2024 500,000 516,771
Kane Zero% 22jan16 0.0 01/22/2016 1,200,000 1,215,600
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 8.625 06/15/2019 678,498 724,145
Arlington Flt% 01aug15 0.0 08/01/2015 600,000 669,540
Targa Resources Partners LP, 4.25%, 11/15/23 4.25 11/15/2023 555,000 543,098
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.0051 06/06/2015 1,250,000 1,272,375
Verizon Communications, Inc., 6.55%, 9/15/43 6.55 09/15/2043 576,000 751,720
Quebecor Media, Inc., Facility B-1 Tranche, 8/17/20 3.25 08/17/2020 234,902 232,333
CCO Holdings LLC, 5.75%, 9/1/23 5.75 09/01/2023 475,000 498,651
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 9.5 06/24/2019 117,320 91,997
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 428,000 474,278
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 6.75 03/15/2023 700,000 695,395
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 6.75 06/15/2021 1,425,000 1,385,634
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 335,000 340,618
Schaeffler (Aka Ina Beteiligungsge 1st Lien Tl-B L + 3.5% 15may20 4.25 05/15/2020 475,000 478,933
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 8.25 01/15/2021 550,000 522,454
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 500,000 347,460
Cenveo Corp., 6.0%, 8/1/19 (144A) 6.0 08/01/2019 1,210,000 1,146,475
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 400,000 436,183
JP Morgan Mortgage Trust 2005-A7, Floating Rate Note, 7/25/35 2.5543 07/25/2035 2,900,000 147,610
Banc of America Mortgage Trust 2004-2, 5.5%, 3/25/34 5.5 03/25/2034 212,565 58,741
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 5.214 02/11/2041 100,000 100,451
Floatel 1st Lien Tl-B L + 5% 22may20 6.0 05/22/2020 216,581 160,270
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 0.0 03/30/2019 700,000 873,390
Confie seguros Holding II Co., Term B Loan (First Lien), 11/9/18 5.75 11/09/2018 786,323 784,685
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 250,000 30,156
Israel Electric Corp, Ltd., 5.625%, 6/21/18 (144A) 5.625 06/21/2018 900,000 971,155
COMM 2012-CCRE2 Mortgage Trust, Floating Rate Note, 8/17/45 (144A) 4.8574 08/17/2045 100,000 102,609
Morgan Stanley, 4.1%, 5/22/23 4.1 05/22/2023 750,000 791,552
Infor US, Inc., Tranche B-5 Term Loan, 6/3/20 3.75 06/03/2020 214,995 213,402
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 5.25 12/31/2049 1,000,000 1,052,542
Lennar Corp., 4.5%, 6/15/19 4.5 06/15/2019 1,175,000 1,228,756
Bear Stearns Commercial Mortgage Securities Trust 2007-PWR16, Floating Rate Note, 6/11/40 5.7071 06/11/2040 2,000,000 2,063,389
Sunoco Logistics Partners Operations LP, 3.45%, 1/15/23 3.45 01/15/2023 1,500,000 1,486,804
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 5.75 02/01/2023 980,000 910,992
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 5.3243 07/10/2045 350,000 353,321
JMC Steel Group, Inc., Term Loan, 4/1/17 4.75 04/01/2017 390,993 390,178
Garda World Security Corp., Term B Loan, 11/1/20 4.0 11/01/2020 204,356 203,760
Morgan Stanley, Floating Rate Note (Perpetual) 7.125 12/31/2049 18,000 512,460
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 8.375 09/30/2020 1,846,407 1,358,841
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 25,000 638,500
Akorn, Inc., Loan, 11/13/20 4.5 11/13/2020 690,119 693,570
Bombardier Recreational Products, Inc., Term B Loan, 1/30/19 4.0 01/30/2019 400,857 400,941
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 6.75 04/30/2018 961,651 914,169
ML-CFC Commercial Mortgage Trust 2006-3, Floating Rate Note, 7/12/46 5.485 07/12/2046 1,400,000 1,438,003
Unifrax I LLC, New Term B Dollar Loan, 11/28/18 4.25 11/28/2018 317,100 316,783
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,342,000 1,087,188
Kane-Pi4 Flt% 07jul16 0.0 07/07/2016 1,503,871 1,505,826
Ziggo Bv Us 1st Lien Tl-B2 L + 2.75% 15jan22 3.385 01/15/2022 357,447 355,548
Turkiye Sise ve Cam Fabrikalari AS, 4.25%, 5/9/20 (144A) 4.25 05/09/2020 400,000 394,706
Structured Asset Mortgage Investments Trust 2003-AR1, Floating Rate Note, 10/19/33 1.6775 10/19/2033 3,319,800 111,038
Norcraft Companies LP, Initial Loan, 11/12/20 5.25 11/12/2020 197,500 198,241
Citigroup, Inc., Floating Rate Note (Perpetual) 5.9 12/31/2049 1,500,000 1,522,558
Wachovia Bank Commercial Mortgage Trust Series 2006-C28, Floating Rate Note, 10/15/48 5.632 10/15/2048 1,500,000 1,546,072
Continental Airlines 2001-1 Class B Pass Through Trust, 7.373%, 12/15/15 7.373 12/15/2015 250,000 52,402
CNO Financial Group, Inc., Tranche B-2 Term Loan, 9/28/18 3.75 09/28/2018 91,720 92,004
Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A) 7.25 04/01/2019 1,960,000 1,207,850
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 9.5 05/04/2020 100,000 98,379
CenturyLink, Inc., 7.6%, 9/15/39 7.6 09/15/2039 150,000 154,163
Mirror BidCo Corp., New Incremental Term Loan, 12/18/19 4.25 12/18/2019 914,119 913,166
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 1,433 17,304
SRAM LLC, Term Loan (First Lien), 4/10/20 4.0165 04/10/2020 643,966 643,966
On Assignment, Inc., Initial Term B Loan, 5/15/20 3.5 05/15/2020 367,182 367,335
Cme: (Cdx.Na.Hy.23.V3) Usd 20dec19 Z91mw60e6 5.0 12/20/2019 -101,714,200 -9,758,978
Banc of America Merrill Lynch Commercial Mortgage, Inc. REMICS, Floating Rate Note, 9/10/47 (144A) 6.3333 09/10/2047 160,000 141,483
Advanced Micro Devices, Inc., 6.75%, 3/1/19 6.75 03/01/2019 595,000 580,497
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 30,000 31,104
Post Holdings, Inc., 7.375%, 2/15/22 7.375 02/15/2022 550,000 574,433
Transnet SOC, Ltd., 4.0%, 7/26/22 (144A) 4.0 07/26/2022 325,000 318,644
Wheelabrator 1st Lien Tl-B L + 4% 15oct21 5.0 10/15/2021 1,910,920 1,934,806
JPMorgan Chase & Co., 1.0%, 9/20/17 5.0 12/20/2017 250,000 31,934
SUAM Finance BV, 4.875%, 4/17/24 (144A) 4.875 04/17/2024 500,000 528,604
Ensco Plc, 5.75%, 10/1/44 5.75 10/01/2044 3,950,000 3,940,474
Vertafore, Inc., Term Loan (2013), 10/3/19 4.25 10/03/2019 94,831 94,979
Denbury Resources, Inc., 4.625%, 7/15/23 4.625 07/15/2023 910,000 789,210
United Airlines, Inc., Class B Term Loan, 4/1/19 3.5 04/01/2019 245,000 244,388
Kleopatra Acquisition Corp., Term B-1 Loan, 12/21/16 4.75 12/21/2016 179,907 181,068
Instituto Costarricense de Electricidad, 6.375%, 5/15/43 (144A) 6.375 05/15/2043 1,000,000 867,833
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 5.25 04/25/2032 509,814 112,948
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 6.875 06/24/2019 1,105,000 959,719
Summit Midstream Holdings LLC, 7.5%, 7/1/21 7.5 07/01/2021 1,030,000 1,090,513
Air Canada 2013-1 Class C Pass Through Trust, 6.625%, 5/15/18 (144A) 6.625 05/15/2018 500,000 535,989
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 300,000 257,946
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 10.625 02/01/2016 475,000 435,911
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6.875 11/01/2019 400,000 313,458
JP Morgan Chase Commercial Mortgage Securities Trust 2014-FBLU REMICS, Floating Rate Note, 12/15/28 3.675 12/15/2028 1,100,000 1,101,947
Burger King Corp 1st Lien Tl-B L + 3.5% 25sep21 4.5 09/25/2021 361,777 365,814
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 705,000 742,013
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 7.75 10/15/2021 950,000 974,449
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 1,305,000 1,291,950
Wendy's International LLC, Term B Loan, 5/15/19 3.25 05/15/2019 745,047 745,978
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 6.5 05/15/2021 425,000 457,749
Bank of America Corp., 7.75%, 5/14/38 7.75 05/14/2038 200,000 293,913
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 1,815,000 1,945,176
Del Monte Foods, Inc., Initial Loan (First Lien), 11/26/20 4.2532 11/26/2020 245,823 234,351
Brown Shoe Co, Inc., 7.125%, 5/15/19 7.125 05/15/2019 750,000 799,250
Syniverse Holdings, Inc., Tranche B Term Loan, 4/23/19 4.0 04/23/2019 484,761 459,715
SolarCity Corp., 1.625%, 11/1/19 (144A) 1.625 11/01/2019 1,345,000 1,201,314
Bayview Commercial Asset Trust 2004-1, Floating Rate Note, 4/25/34 (144A) 1.9738 04/25/2034 4,900,000 416,505
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 5.9505 05/15/2046 1,813,000 1,920,285
The Goldman Sachs Group, Inc., 6.45%, 5/1/36 6.45 05/01/2036 300,000 383,204
DaVita HealthCare Partners, Inc., 5.125%, 7/15/24 5.125 07/15/2024 1,360,000 1,401,914
BioScrip, Inc., Initial Term B Loan, 7/31/20 6.5 07/31/2020 487,281 484,236
Ship Midco, Ltd., Facility B2A-II, 11/29/19 5.25 11/29/2019 78,745 79,254
Kane Ilw Zero% 02feb16 0.0 02/02/2016 1,050,000 981,750
Salix Pharmaceuticals, Ltd., Term Loan, 12/17/19 5.5 12/17/2019 164,063 164,237
Apex Tool Group LLC, Term Loan, 1/31/20 4.5 01/31/2020 637,368 626,812
NCI Building Systems, Inc., Tranche B Term Loan, 6/24/19 4.25 06/24/2019 470,249 470,249
EP Energy LLC, Tranche B-3 Loan, 5/24/18 3.5 05/24/2018 176,667 170,778
Truven Health Analytics, Inc., New Tranche B Term Loan, 6/6/19 4.5 06/06/2019 989,899 990,196
Ocwen Financial Corp., 6.625%, 5/15/19 (144A) 6.625 05/15/2019 1,450,000 1,290,540
Tiers Trust, Floating Rate Note, 10/15/97 (144A) 0.0   100,000 92,555
Intelsat Jackson Holdings SA, Tranche B-2 Term Loan, 6/30/19 3.75 06/30/2019 289,851 289,090
Applied Systems, Inc., Initial Term Loan (First Lien), 1/15/21 4.2862 01/15/2021 220,388 220,746
Tempur Sealy International, Inc., New Term B Loan, 3/18/20 3.5038 03/18/2020 100,301 100,531
KKR Group Finance Co II LLC, 5.5%, 2/1/43 (144A) 5.5 02/01/2043 1,500,000 1,615,780
Covanta Holding Corp., 5.875%, 3/1/24 5.875 03/01/2024 1,130,000 1,175,082
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 5.9628 03/17/2049 300,000 312,006
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 6.875 02/15/2019 1,350,000 1,247,109
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 5.273 12/11/2038 2,642,507 2,703,977
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 29,032 4,990
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 6.25 12/18/2019 1,876,250 1,883,873
LKQ Corp., 4.75%, 5/15/23 4.75 05/15/2023 250,000 249,486
General Electric Capital Corp., Floating Rate Note (Perpetual) 7.125 12/31/2049 1,500,000 1,792,094
Bayview Opportunity Master Fund Trust IIIa 2014-12RPL, 3.6225%, 7/28/19 (Step) (144A) 3.6225 07/28/2019 500,000 253,665
Si Organization Inc 1st Lien Dd L + 0% 19nov19 5.75 11/19/2019 14,052 14,144
Wheelabrator 1st Lien Tl-C L + 4% 15oct21 5.0 10/15/2021 84,291 85,345
Standard Pacific Corp., 6.25%, 12/15/21 6.25 12/15/2021 1,000,000 1,078,403
Flagship Credit Auto Trust 2013-1, 5.38%, 7/15/20 5.38 07/15/2020 700,000 728,779
Serena Software Inc 1st Lien Term L + 6.5% 10apr20 7.5 04/10/2020 282,750 283,869
Buckeye Partners LP, 4.15%, 7/1/23 4.15 07/01/2023 1,750,000 1,748,913
Liberty Tire Recycling Llc     3,071 31
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 1,205,000 1,215,209
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 6.36 07/18/2019 28,619 26,615
SBP HOLDINGS, Ltd., Term Loan (First Lien), 3/24/21 5.0 03/24/2021 0 0
Post Holdings, Inc., 2.5% (Perpetual) (144A) 2.5 12/31/2049 11,800 1,098,875
Hologic, Inc., Refinancing Tranche B Term Loan, 8/1/19 3.25 08/01/2019 247,026 247,586
Banco Santander SA, Floating Rate Note (Perpetual) 6.375 12/31/2049 800,000 795,752
Legg Mason, Inc., 5.625%, 1/15/44 5.625 01/15/2044 500,000 598,129
Seagate HDD Cayman, 4.75%, 6/1/23 4.75 06/01/2023 885,000 944,178
Valeant Pharmaceuticals International, Inc., Series E1 Tranche B Term Loan, 8/5/20 3.5 08/05/2020 728,520 729,203
Wells Fargo & Co., Floating Rate Note (Perpetual) 5.875 12/31/2049 1,150,000 1,228,887
Audio Visual Services Corp., Initial Term Loan (First Lien), 1/24/21 4.5 01/24/2021 113,850 113,850
Scientific Games International, Inc., 10.0%, 12/1/22 (144A) 10.0 12/01/2022 800,000 776,889
Calpine Construction Finance Co LP, Term B-1 Loan, 5/3/20 3.0 05/03/2020 525,638 519,478
Six Flags Theme Parks, Inc., Tranche B Term Loan, 12/20/18 3.5007 12/20/2018 245,603 247,036
NorthStar 2013-1, Floating Rate Note, 8/27/29 (144A) 5.1738 08/27/2029 1,500,000 1,516,508
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 5.135 10/15/2039 100,000 103,818
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 725,000 715,031
Fifth Third Bancorp, Floating Rate Note (Perpetual) 6.625 12/31/2049 14,900 420,925
ONEOK, Inc., 6.875%, 9/30/28 6.875 09/30/2028 1,450,000 1,722,129
JP Morgan Chase Commercial Mortgage Securities Trust 2014-INN, Floating Rate Note, 6/15/29 (144A) 3.775 06/15/2029 1,530,000 1,530,884
Rosetta Resources, Inc., 5.875%, 6/1/22 5.875 06/01/2022 665,000 639,785
Micro Focus Us Inc 1st Lien Tl-B L + 4.25% 07oct21 5.25 10/07/2021 683,824 685,675
Constellation Brands, Inc., 3.75%, 5/1/21 3.75 05/01/2021 470,000 487,919
T-Mobile USA, Inc., 6.0%, 3/1/23 6.0 03/01/2023 400,000 411,876
Citigroup Capital XIII, Floating Rate Note, 10/30/40 7.875 10/30/2040 41,128 1,090,715
Citrus Re, Ltd., Floating Rate Note, 4/24/17 (Cat Bond) (144A) 3.7753 04/24/2017 350,000 345,873
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 3.75 06/30/2019 221,762 201,091
Mid-State Capital Trust 2010-1, 7.0%, 12/15/45 (144A) 7.0 12/15/2045 25,000 19,488
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 250,000 232,087
Outerwall, Inc., 6.0%, 3/15/19 6.0 03/15/2019 435,000 423,110
Memorial Production Partners LP, 7.625%, 5/1/21 7.625 05/01/2021 770,000 725,164
Rural, Term Loan, 6/30/18 8.0 06/30/2018 86,479 79,993
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 600,000 610,100
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 500,000 440,796
NCR Corp., 6.375%, 12/15/23 6.375 12/15/2023 1,160,000 1,257,174
Rovi Solutions Corp 1st Lien Tl-B L + 3% 02jul21 3.75 07/02/2021 202,743 202,236
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 3.621 05/08/2031 530,000 529,977
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 330,000 301,125
TurboCombustor Technology, Inc., Initial Term Loan, 10/18/20 5.5 10/18/2020 543,125 544,483
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 8.5 04/03/2018 76,767 76,839
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 5.25 04/25/2032 2,500,000 690,338
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 5.78 03/16/2043 300,000 300,159
The Hanover Insurance Group, Inc., 6.35%, 3/30/53 6.35 03/30/2053 30,000 753,900
Catamaran Corp., 4.75%, 3/15/21 4.75 03/15/2021 1,125,000 1,252,531
Banc of America Commercial Mortgage Trust 2007-5, Floating Rate Note, 2/10/51 5.9887 02/10/2051 1,250,000 1,284,072
ExGen Renewables I LLC, Term Loan, 2/5/21 5.25 02/05/2021 1,079,323 1,090,116
Affiliated Managers Group, Inc., 4.25%, 2/15/24 4.25 02/15/2024 915,000 981,940
Brocade Communications Systems, Inc., 4.625%, 1/15/23 4.625 01/15/2023 800,000 807,764
Viasystems, Inc., 7.875%, 5/1/19 (144A) 7.875 05/01/2019 950,000 1,031,047
Verizon Communications, Inc., 5.012%, 8/21/54 5.012 08/21/2054 576,000 600,860
Swift Transportation Co LLC, Tranche B Loan, 6/9/21 3.75 06/09/2021 168,282 169,018
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 1,671,000 375,768
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 425,000 459,230
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 5.7444 01/25/2033 450,000 55,261
Hexion, Inc., 8.875%, 2/1/18 8.875 02/01/2018 700,000 628,104
Syniverse Holdings, Inc., Initial Term Loan, 4/23/19 4.0 04/23/2019 239,957 227,559
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 6.5 07/31/2020 292,369 290,541
Progreso Receivables Funding I LLC, 4.0%, 7/9/18 (144A) 4.0 07/09/2018 1,250,000 1,261,007
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 27,750 728,438
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 575,000 578,953
Valeant Pharmaceuticals International, Inc., Series C-2 Tranche B Term Loan, 12/11/19 3.03 12/11/2019 298,478 298,685
Tenet Healthcare Corp., 4.5%, 4/1/21 4.5 04/01/2021 265,000 265,663
Apr15 Vix C @ 17.000000   04/15/2015 500 45,000
AECOM, 5.75%, 10/15/22 (144A) 5.75 10/15/2022 635,000 674,974
Physio-Control International, Inc., 9.875%, 1/15/19 (144A) 9.875 01/15/2019 142,000 153,835
Legg Mason, Inc., 3.95%, 7/15/24 3.95 07/15/2024 1,250,000 1,314,750
A10 Securitization 2013-1 LLC, 4.7%, 11/17/25 (144A) 4.7 11/17/2025 350,000 350,990
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 6.657 08/15/2043 400,000 424,955
WCA Waste Corp., Term Loan, 3/23/18 4.0 03/23/2018 690,677 686,648
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 208,000 177,145
Tata Chemicals North America, Inc., Term Loan, 8/7/20 3.75 08/07/2020 245,625 245,471
Golden State RE II, Ltd., Floating Rate Note, 1/8/19 (Cat Bond) (144A) 2.2152 01/08/2019 250,000 250,243
Gibraltar Industries, Inc., 6.25%, 2/1/21 6.25 02/01/2021 1,000,000 1,025,417
Progressive Waste Solutions, Ltd., Term B Loan, 10/24/19 3.0 10/24/2019 442,085 444,296
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 5.4584 07/12/2044 113,538 128,528
Salix Pharmaceuticals, Ltd., 6.25%, 1/15/21 (144A) 6.25 01/15/2021 755,000 847,467
MortgageIT Trust 2005-1, Floating Rate Note, 2/25/35 1.6738 02/25/2035 3,432,000 547,218
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 1,070,000 1,108,119
US Bancorp, Floating Rate Note (Perpetual) 6.0 12/31/2049 9,700 264,907
MedAssets, Inc., 8.0%, 11/15/18 8.0 11/15/2018 175,000 187,726
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 4.5051 12/06/2016 800,000 819,400
Delta Air Lines 2010-1 Class B Pass Through Trust, 6.375%, 1/2/16 (144A) 6.375 01/02/2016 400,000 418,544
Monitronics International, Inc., Term B Loan (2013), 3/23/18 4.25 03/23/2018 554,266 555,565
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/26/59 (144A) 5.3 12/26/2059 200,000 206,891
Green Plains Inc 1st Lien Tl-B L + 5.5% 03jun20 6.5 06/03/2020 426,480 411,554
Copano Energy LLC, 7.125%, 4/1/21 7.125 04/01/2021 373,000 415,942
Tower Automotive Holdings USA LLC, Refinancing Term Loan, 4/23/20 4.0 04/23/2020 871,801 872,619
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.5235 04/10/2038 700,000 718,715
New World Resources NV, Floating Rate Note, 10/7/20 0.0 10/07/2020 38,709 16,219
Kinetic Concepts, Inc., Dollar Term E-1 Loan, 5/4/18 4.5 05/04/2018 390,204 392,155
Rosetta Resources, Inc., 5.625%, 5/1/21 5.625 05/01/2021 515,000 496,170
MortgageIT Trust 2005-1, Floating Rate Note, 2/25/35 1.9738 02/25/2035 2,208,000 335,327
Fidelity National Financial, Inc., 5.5%, 9/1/22 5.5 09/01/2022 250,000 273,968
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 500,000 575,174
Energy XXI, Ltd., 3.0%, 12/15/18 3.0 12/15/2018 845,000 248,323
Neuberger Berman Group LLC, 5.625%, 3/15/20 (144A) 5.625 03/15/2020 100,000 104,500
AT&T, Inc., 3.9%, 3/11/24 3.9 03/11/2024 3,500,000 3,670,403
Bayview Opportunity Master Fund IIa Trust 2014-20NPL, Floating Rate Note, 8/28/44 (144A) 3.721 08/28/2044 460,000 357,145
Beverage Packaging Holdings Luxembourg II SA, 6.0%, 6/15/17 (144A) 6.0 06/15/2017 300,000 306,050
Halyard Health, Inc., 6.25%, 10/15/22 (144A) 6.25 10/15/2022 1,080,000 1,162,050
SunPower Corp., 0.875%, 6/1/21 (144A) 0.875 06/01/2021 2,000,000 1,938,333
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 3.157 01/25/2035 1,100,000 99,432
Dtz Us Borrower Llc 1st Lien Tl L + 4.5% 28oct21 5.5 10/28/2021 1,658,357 1,671,486
NBTY, Inc., Term B-2 Loan, 10/1/17 3.5 10/01/2017 750,000 741,329
Bayview Commercial Asset Trust 2004-3, Floating Rate Note, 1/25/35 (144A) 1.1738 01/25/2035 7,450,000 1,084,987
Drillships Financing Holding, Inc., Tranche B-1 Term Loan, 3/31/21 6.0 03/31/2021 709,423 543,418
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 5.1 08/15/2038 1,150,000 1,162,354
Gestamp Funding Luxembourg SA, 5.625%, 5/31/20 (144A) 5.625 05/31/2020 1,215,000 1,277,459
Murphy Oil USA, Inc., 6.0%, 8/15/23 6.0 08/15/2023 1,000,000 1,080,167
Corsicanto, Ltd., 3.5%, 1/15/32 3.5 01/15/2032 750,000 804,292
Bank of America Corp., Floating Rate Note, 9/29/49 6.25 09/29/2049 925,000 946,519
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/17/48 (144A) 4.3551 03/17/2048 200,000 198,117
Si Organization Inc 1st Lien Tl L + 4.75% 19nov19 5.75 11/19/2019 210,871 212,255
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 5.58 06/25/2058 250,000 259,074
Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, Floating Rate Note, 10/12/42 5.1415 10/12/2042 1,500,000 1,508,434
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 350,000 137,589
Blackstone Holdings Finance Co LLC, 5.0%, 6/15/44 (144A) 5.0 06/15/2044 300,000 329,751
Verizon Communications, Inc., 4.15%, 3/15/24 4.15 03/15/2024 2,500,000 2,690,159
Virgin Media Investment Holdings, Ltd., B Facility, 6/8/20 3.5 06/08/2020 675,299 675,346
CST Brands, Inc., 5.0%, 5/1/23 5.0 05/01/2023 1,325,000 1,379,104
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 7.375 11/01/2021 470,000 380,405
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 7.42 01/09/2019 1,000,000 1,041,556
Charter Communications Operating LLC, Term F Loan, 12/31/20 3.0 12/31/2020 491,250 489,984
Vita Capital V, Ltd., Floating Rate Note, 1/15/17 (Cat Bond) (144A) 2.7576 01/15/2017 250,000 255,605
Crossmark Holdings, Inc., Term Loan (First Lien), 12/20/19 4.5 12/20/2019 195,623 188,287
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 7.75 01/31/2023 400,000 399,253
GTP Acquisition Partners I LLC, 7.628%, 6/15/41 (144A) 7.628 06/15/2041 500,000 507,945
RSP Permian, Inc., 6.625%, 10/1/22 (144A) 6.625 10/01/2022 1,075,000 1,116,974
AXIS Equipment Finance Receivables II LLC, 6.41%, 10/22/18 (144A) 6.41 10/22/2018 250,000 254,506
Livingston International, Inc., Initial Term B-1 Loan (First Lien), 4/18/19 5.0 04/18/2019 712,313 705,858
Sensus USA, Inc., Term Loan (First Lien), 5/9/17 4.5 05/09/2017 242,434 242,738
CWABS Asset-Backed Certificates Trust 2005-4, Floating Rate Note, 9/27/32 4.456 09/27/2032 360,000 7,173
Old HB, Inc., Term B Loan, 4/9/20 6.75 04/09/2020 673,200 687,506
Delta Air Lines 2010-2 Class B Pass Through Trust, 6.75%, 11/23/15 (144A) 6.75 11/23/2015 900,000 948,870
US Airways 2013-1 Class A Pass Through Trust, 3.95%, 5/15/27 3.95 05/15/2027 400,000 408,710
Fannie Mae, 4.5%, 9/1/39 4.5 09/01/2039 2,945,000 1,203,105
Continental Airlines 1997-4 Class B Pass Through Trust, 6.9%, 1/2/17 6.9 01/02/2017 250,000 8,355
Coveris Holdings SA, USD Term Loan, 4/14/19 5.25 04/14/2019 29,625 29,829
RTI International Metals, Inc., 1.625%, 10/15/19 1.625 10/15/2019 385,000 445,635
Citigroup, Inc., Floating Rate Note (Perpetual) 5.95 12/31/2049 640,000 654,452
Kane Zero% 19feb16 0.0 02/19/2016 1,200,000 1,256,760
Altice Financing SA, 6.5%, 1/15/22 (144A) 6.5 01/15/2022 1,300,000 1,351,964
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/20 (Cat Bond) (144A) 6.8703 04/07/2020 1,000,000 1,049,315
Sprint Corp., 7.125%, 6/15/24 7.125 06/15/2024 1,225,000 1,220,074
WR Grace & Co-Conn, Delayed Draw Term Loan, 1/23/21 2.75 01/23/2021 172,350 172,612
RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step) 4.46 07/25/2033 400,000 252,682
Acgl Zero% 01jul16 0.0 07/01/2016 700,000 707,700
AECOM, 5.875%, 10/15/24 (144A) 5.875 10/15/2024 635,000 684,885
Numericable-SFR SAS, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 850,000 867,142
Igloo Holdings Corp., 8.25%, 12/15/17 (144A) (PIK) 8.25 12/15/2017 200,000 206,858
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 485,000 516,788
Vericrest Opportunity Loan Transferee 2014-NPL4 LLC, 4.0%, 4/27/54 (Step) (144A) 4.0 04/27/2054 750,000 741,097
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 430,000 419,429
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 7.875 04/15/2019 400,000 429,525
OAS Finance, Ltd., 8.0%, 7/2/21 (144A) 8.0 07/02/2021 860,000 173,959
DR Horton, Inc., 5.75%, 8/15/23 5.75 08/15/2023 765,000 833,733
Offshore Group Investment, Ltd., Second Term Loan, 3/28/19 5.75 03/28/2019 126,704 72,538
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 1,000,000 1,072,500
Progreso Receivables Funding II LLC, 6.0%, 7/8/19 (144A) 6.0 07/08/2019 500,000 509,417
Gardner Denver, Inc., Initial Dollar Term Loan, 7/30/20 4.25 07/30/2020 381,492 362,823
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.5 04/09/2015 1,000,000 1,021,211
Key Energy Services, Inc., 6.75%, 3/1/21 6.75 03/01/2021 355,000 230,972
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 340,000 520,461
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 5.75 04/23/2021 1,273,600 1,260,546
Atrium Innovations, Inc., Initial Tranche B-1 Term Loan (First Lien), 1/29/21 4.25 01/29/2021 594,000 584,348
CS Intermediate Holdco 2 LLC, Term Loan, 3/28/21 4.0 03/28/2021 645,125 644,561
Flextronics International, Ltd., 5.0%, 2/15/23 5.0 02/15/2023 695,000 732,453
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 6.875 08/01/2022 1,090,000 977,140

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