Pioneer Investments: Pioneer Dynamic Credit Fund


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Pioneer Dynamic Credit Fund

Monthly Portfolio Holdings as of 2/28/2014

Security Name Coupon Maturity Date Par / Shares Market Value($)
US Airways, Inc., Tranche B-1 Term Loan (Consenting), 5/23/19   05/23/2019 618,750 620,426
LBC Tank Terminals Holding Netherlands BV, 6.875%, 5/15/23 (144A) 6.875 05/15/2023 220,000 237,103
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 7.394 02/13/2015 250,000 258,360
Petroleos Mexicanos, 6.375%, 1/23/45 (144A) 6.375 01/23/2045 950,000 1,014,964
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 8.9 02/04/2021 700,000 709,048
JP Morgan Chase Commercial Mortgage Securities Trust 2013-FL3, Floating Rate Note, 4/15/28 (144A) 3.1151 04/15/2028 1,900,000 1,899,380
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/10/44 (144A) 5.4438 07/10/2044 113,538 124,867
Israel Electric Corp, Ltd., 5.625%, 6/21/18 (144A) 5.625 06/21/2018 900,000 965,644
Murray Energy Corp., 8.625%, 6/15/21 (144A) 8.625 06/15/2021 650,000 700,835
Air Canada 2013-1 Class C Pass Through Trust, 6.625%, 5/15/18 (144A) 6.625 05/15/2018 500,000 519,753
Telesat Canada, 3/28/19 3.5 03/28/2019 610,735 613,251
US Airways 2013-1 Class A Pass Through Trust, 3.95%, 5/15/27 3.95 11/15/2025 400,000 407,652
Progreso Receivables Funding I LLC, 4.0%, 7/9/18 (144A) 4.0 07/09/2018 1,250,000 1,256,319
NEP, 1/22/20   01/22/2020 250,000 251,250
Viasystems, Inc., 7.875%, 5/1/19 (144A) 7.875 05/01/2019 550,000 605,000
Preferred Proppants LLC, 12/15/16 11.75 12/15/2016 152,675 118,832
Brit Insurance Holdings BV, Floating Rate Note, 12/9/30 6.625 12/09/2030 850,000 1,419,677
Albertsons LLC, Term B-1 Loan, 3/21/16 4.25 03/21/2016 550,000 554,741
Cardtronics, Inc., 1.0%, 12/1/20 (144A) 1.0 12/01/2020 1,000,000 992,042
NuVasive, Inc., 2.75%, 7/1/17 2.75 07/01/2017 1,300,000 1,511,521
TWCC Holding Corp., 2/13/17 3.5 02/11/2017 488,813 475,859
Advanced Micro Devices, Inc., 7.5%, 8/15/22 7.5 08/15/2022 445,000 440,921
iStar Financial, Inc., 4.875%, 7/1/18 4.875 07/01/2018 170,000 173,081
TI Group Automotive Systems LLC, 3/28/19 5.5 03/27/2019 128,057 128,978
Corsicanto, Ltd., 3.5%, 1/15/32 3.5 01/15/2032 1,250,000 850,903
Kleopatra Acquisition Corp., 12/21/16 4.75 12/14/2016 183,032 185,167
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 10.875 01/26/2021 100,000 84,057
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 5.55 10/28/2020 500,000 511,046
Citigroup Capital XIII, Floating Rate Note, 10/30/40 7.875 10/30/2040 54,200 1,490,500
General Electric Capital Corp., Floating Rate Note, 12/31/49 (Perpetual) 7.125 12/29/2049 200,000 230,008
Offshore Group Investment, Ltd., 7.5%, 11/1/19 7.5 11/01/2019 600,000 661,500
Qwest Corp., 7.375%, 6/1/51 7.375 06/01/2051 4,400 111,760
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 9.055 06/06/2015 1,250,000 1,347,938
Windstream Corp., 7.5%, 6/1/22 7.5 06/01/2022 1,305,000 1,407,769
WebMD Health Corp., 1.5%, 12/1/20 (144A) 1.5 12/01/2020 1,300,000 1,379,913
State Street Corp., Floating Rate Note, 12/31/73 5.9 12/31/2073 29,300 744,220
Theravance, Inc., 2.125%, 1/15/23 2.125 01/15/2023 500,000 745,108
Marfrig Holding Europe BV, 8.375%, 5/9/18 (144A) 8.375 05/09/2018 200,000 197,211
Cummins, Inc., 5.65%, 3/1/98 5.65   350,000 372,161
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 5.9694 05/15/2046 1,813,000 1,869,153
Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A) 5.625 03/30/2043 750,000 799,437
The SI Organization, Inc., 11/22/16 5.5 11/22/2016 243,761 240,105
Nexeo Solutions Llc 1st Lien Tl-B L + 3.5% 09sep17   09/09/2017 750,000 750,938
COBALT CMBS Commercial Mortgage Trust 2007-C2, Floating Rate Note, 4/15/47 (144A) 5.568 04/15/2047 1,200,000 1,222,572
Wendy's International, Inc., 5/15/19 3.25 05/15/2019 754,526 755,738
Neiman Marcus Group, Ltd. LLC, 8.0%, 10/15/21 (144A) 8.0 10/15/2021 625,000 688,368
FREMF Mortgage Trust 2013-K28, Floating Rate Note, 6/25/46 (144A) 3.4943 06/25/2046 1,000,000 857,915
Surgical Care Affiliates, Inc., 6/29/18 4.25 06/29/2018 547,250 550,328
Comstock Resources, Inc., 7.75%, 4/1/19 7.75 04/01/2019 1,200,000 1,322,750
United Continental Holdings, Inc., 6.0%, 7/15/26 6.0 07/15/2026 475,000 451,329
JP Morgan Chase Commercial Mortgage Securities Trust 2006-CIBC16, 5.623%, 5/12/45 5.623 05/12/2045 950,000 962,151
T-Mobile USA, Inc., 6.633%, 4/28/21 6.633 04/28/2021 555,000 604,162
COMM 2012-CCRE4 Mortgage Trust, Floating Rate Note, 10/15/45 (144A) 4.5771 10/15/2045 303,000 281,867
GS Mortgage Securities Corp II Series 2004-GG2, Floating Rate Note, 8/10/38 5.8352 08/10/2038 200,000 200,972
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 16.2956 11/10/2015 500,000 525,038
Neuberger Berman Group LLC, 5.625%, 3/15/20 (144A) 5.625 03/15/2020 100,000 107,844
Vitality Re V, Ltd., Floating Rate Note, 1/7/19 (Cat Bond) (144A)   01/07/2019 250,000 250,550
Party City Holdings Inc 1st Lien Tl-B L + 3% 27jul19 4.0 07/27/2019 937,000 937,000
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 9.065 03/16/2016 250,000 274,663
Frontier Communications Corp., 9.0%, 8/15/31 9.0 08/15/2031 200,000 209,800
Citigroup Mortgage Loan Trust, Inc., 6.75%, 8/25/34 6.75 08/25/2034 300,000 68,378
Expert Global Solutions, Inc., 4/3/18 8.5 03/13/2018 224,967 224,123
Stone Energy Corp., 7.5%, 11/15/22 7.5 11/15/2022 150,000 164,938
Ukraine Government International Bond, 7.8%, 11/28/22 (144A) 7.8 11/28/2022 200,000 180,030
Telenet Finance III Luxembourg SCA, 6.625%, 2/15/21 (144A) 6.625 02/15/2021 200,000 301,383
Advantage Sales & Marketing, Inc., 12/18/17 4.25 12/17/2017 693,497 698,092
Reliance Steel & Aluminum Co., 4.5%, 4/15/23 4.5 04/15/2023 490,000 500,818
MGM Resorts International, 12/20/19 3.5 12/13/2019 267,300 267,384
Ziggo Bv 1st Lien Tl-B2 L + 2.75% 15jan22 3.5 01/15/2022 357,447 356,274
PDL BioPharma, Inc., 3.75%, 5/1/15 3.75 05/01/2015 16,000 22,330
Mid-State Capital Trust 2010-1, 7.0%, 12/15/45 (144A) 7.0 12/15/2045 25,000 20,928
Verint Systems, Inc., 9/6/19 4.0 09/06/2019 346,500 347,799
Northshore Re, Ltd., Floating Rate Note, 7/5/16 (Cat Bond) (144A) 7.25 07/05/2016 500,000 526,141
Rosetta Resources, Inc., 5.625%, 5/1/21 5.625 05/01/2021 515,000 540,106
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 5.95 12/29/2049 500,000 496,312
Corporate Office Properties LP, 3.6%, 5/15/23 3.6 05/15/2023 225,000 211,298
Ally Financial, Inc., 7.0%, 12/31/49 (Perpetual) (144A) 7.0   1,600 1,585,350
WCA Waste Corp., 3/23/18 4.0 03/23/2018 699,577 702,113
Volt Flt% 27oct53 14-Npl1-A2 4.75 10/27/2053 2,500,000 2,436,469
Stanley Black & Decker, Inc., Floating Rate Note, 12/15/53 5.75 12/15/2053 600,000 653,433
TOPRE_13-LTR, 3.47%, 11/20/28 (144A) 3.47 11/20/2028 1,750,000 1,370,660
Approach Resources, Inc., 7.0%, 6/15/21 7.0 06/15/2021 2,020,000 2,110,451
Advanced Micro Devices, Inc., 6.75%, 3/1/19 (144A) 6.75 03/01/2019 1,095,000 1,101,502
Masco Corp., 7.125%, 3/15/20 7.125 03/15/2020 135,000 160,698
Kronos, Inc., 10/30/19 4.5 10/02/2019 246,821 248,672
The Ryland Group, Inc., 0.25%, 6/1/19 0.25 06/01/2019 2,000,000 1,953,750
Gentiva Health Services, Inc., 11.5%, 9/1/18 11.5 09/01/2018 400,000 450,000
Aegis Toxicology Corp 1st Lien Tl-B L + 4.5% 20feb21 5.5 02/20/2021 225,000 226,125
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 7.565 04/09/2015 750,000 782,019
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/4/16 (Cat Bond) (144A) 6.6796 08/04/2014 250,000 254,499
QBE Insurance Group, Ltd., 2.4%, 5/1/18 (144A) 2.4 05/01/2018 200,000 196,978
Standard Pacific Corp., 6.25%, 12/15/21 6.25 12/15/2021 1,000,000 1,080,694
Empresas ICA SAB de CV, 8.375%, 7/24/17 (144A) 8.375 07/24/2017 150,000 154,854
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 11.0 10/01/2016 100,000 101,583
Renfro Corp., 1/30/19 5.75 01/23/2019 397,870 396,876
WR Grace & Co., Delayed Draw Term Loan, 1/23/21 2.4854 01/23/2021 172,782 172,944
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 6.25 12/18/2019 1,900,000 1,927,708
MDC Holdings, Inc., 5.5%, 1/15/24 5.5 01/15/2024 1,150,000 1,181,810
CCO Holdings LLC, 5.75%, 9/1/23 (144A) 5.75 09/01/2023 475,000 491,625
TMX Finance LLC, 8.5%, 9/15/18 (144A) 8.5 09/15/2018 1,035,000 1,184,011
SunCoke Energy, Inc., 7/26/18 4.0 07/21/2018 137,989 138,334
Fannie Mae, 4.5%, 9/1/39 4.5 09/01/2039 2,945,000 1,482,812
StoneMor Partners LP, 7.875%, 6/1/21 (144A) 7.875 06/01/2021 375,000 401,133
JinkoSolar Holding Co, Ltd., 4.0%, 5/15/16 (144A) 4.0 05/15/2016 50,000 58,808
Golar LNG, Ltd., 3.75%, 3/7/17 3.75 03/07/2017 1,100,000 1,121,868
First Data Corp., 3/23/18 4.1555 03/24/2018 500,000 502,143
Hexion US Finance Corp., 8.875%, 2/1/18 8.875 02/01/2018 1,700,000 1,784,823
Genpact International, Inc., 8/30/19 3.5 08/17/2019 323,254 324,465
Gestamp Funding Luxembourg SA, 5.625%, 5/31/20 (144A) 5.625 05/31/2020 1,215,000 1,277,838
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 10.75 12/01/2020 208,000 180,866
Intel Corp., 3.25%, 8/1/39 (144A) 3.25 08/01/2039 30,000 40,600
Calpine Corp., 10/9/19 4.0 09/27/2019 444,870 447,512
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/25/59 (144A) 5.3 12/25/2059 200,000 202,954
RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step) 4.46 07/25/2033 400,000 275,656
Sprint Corp., 7.125%, 6/15/24 (144A) 7.125 06/15/2024 1,725,000 1,838,221
Cubist Pharmaceuticals, Inc., 1.875%, 9/1/20 (144A) 1.875 09/01/2020 750,000 946,992
Concho Resources, Inc., 5.5%, 4/1/23 5.5 04/01/2023 375,000 400,469
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 7.5 09/15/2020 650,000 737,479
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 27,750 753,413
Legg Mason, Inc., 5.625%, 1/15/44 5.625 01/15/2044 500,000 515,366
MGM Resorts International, 6.75%, 10/1/20 6.75 10/01/2020 250,000 283,281
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 6.375 09/01/2024 1,500,000 1,645,313
LKQ Corp., 4.75%, 5/15/23 (144A) 4.75 05/15/2023 250,000 241,622
Schaeffler Holding Finance BV, 6.875%, 8/15/18 (144A) (PIK) 6.875 08/15/2018 520,000 555,389
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 5.375 11/15/2021 200,000 206,415
Boart Longyear Management Pty, Ltd., 10.0%, 10/1/18 (144A) 10.0 10/01/2018 220,000 236,011
Dana Holding Corp., 6.0%, 9/15/23 6.0 09/15/2023 830,000 887,962
Intelsat Luxembourg SA, 7.75%, 6/1/21 (144A) 7.75 06/01/2021 350,000 383,469
Virgin Media Secured Finance Plc, 5.375%, 4/15/21 (144A) 5.375 04/15/2021 500,000 525,153
Alternative Loan Trust 2004-2CB, 5.75%, 3/25/34 5.75 03/25/2034 75,000 136,636
Neenah Paper, Inc., 5.25%, 5/15/21 (144A) 5.25 05/15/2021 365,000 367,905
Monitronics International, Inc., 9.125%, 4/1/20 9.125 04/01/2020 785,000 871,759
Memorial Production Partners LP, 7.625%, 5/1/21 7.625 05/01/2021 370,000 399,754
Select Medical Corp., 6/1/18 4.0028 06/01/2018 45,365 45,686
Flextronics International, Ltd., 5.0%, 2/15/23 5.0 02/15/2023 145,000 146,953
Aviation Capital Group Corp., 6.75%, 4/6/21 (144A) 6.75 04/06/2021 200,000 224,500
Loma Reinsurance, Ltd. Bermuda, Floating Rate Note, 1/8/18 (Cat Bond) (144A)   01/08/2018 500,000 510,500
Global Brass & Copper, Inc., 9.5%, 6/1/19 9.5 06/01/2019 500,000 589,375
National Financial Partners Corp., 7/1/20 5.25 06/19/2020 726,042 734,664
Accellent, Inc., 8.375%, 2/1/17 8.375 02/01/2017 525,000 552,289
Neiman Marcus Group, Ltd. LLC, 8.75%, 10/15/21 (144A) (PIK) 8.75 10/15/2021 500,000 553,299
Sedgwick Claims Management Services, Inc., Term Loan B (First Lien), 6/12/18 4.25 06/10/2018 497,500 500,190
Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A) 6.625 04/07/2021 500,000 581,321
Bank of America Corp., 6.11%, 1/29/37 6.11 01/29/2037 625,000 707,001
PQ Corp., 8/7/17 4.5 08/07/2017 693,000 697,331
Post Holdings, Inc., 2.5%, 12/31/49 (Perpetual) (144A) 2.5 12/31/2049 11,800 1,337,088
Samson Investment Co., 9/25/18 5.0 09/25/2018 1,000,000 1,010,250
Air Medical Group Holdings, Inc., 6/30/18 5.0 05/29/2018 250,000 252,031
Shelf Drilling Holdings, Ltd., 4/15/18 6.25 05/30/2018 495,995 497,235
Gold Fields Orogen Holding BVI, Ltd., 4.875%, 10/7/20 (144A) 4.875 10/07/2020 400,000 356,000
Prestige Brands, Inc., 1/31/19 3.792 01/31/2019 323,760 325,851
Albertsons LLC, 3/21/19 4.75 03/21/2019 348,749 352,149
The Hanover Insurance Group, Inc., 6.35%, 3/30/53 6.35 03/30/2053 40,000 922,400
Capella Healthcare, Inc., 9.25%, 7/1/17 9.25 07/01/2017 200,000 217,083
ARD Finance SA, 11.125%, 6/1/18 (144A) (PIK) 11.125 06/01/2018 131,581 147,905
Mirabela Nickel, Ltd., 8.75%, 4/15/18 (144A) 8.75 04/15/2018 400,000 105,222
COMM 2012-CCRE2 Mortgage Trust, Floating Rate Note, 8/15/45 (144A) 4.8578 08/15/2045 100,000 95,629
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 5.82 06/15/2019 750,000 751,258
Valeant Pharmaceuticals International, 6.375%, 10/15/20 (144A) 6.375 10/15/2020 510,000 569,458
BioScrip, Inc., 7/31/20 7.25 07/22/2020 568,227 572,844
Fixed Income Trust Series 2013-A, 0.0%, 10/15/97 (Step) (144A) 0.0   1,000,000 567,590
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 8.565 04/09/2015 1,000,000 1,053,964
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 430,000 485,183
Longpoint Re, Ltd., Floating Rate Note, 6/12/15 (Cat Bond) (144A) 6.2439 06/12/2015 500,000 526,817
AXIS Equipment Finance Receivables II LLC, 4.94%, 7/20/18 (144A) 4.94 07/20/2018 400,000 401,059
ISS AS, 4/30/18 3.75 03/26/2018 398,000 399,294
MedAssets, Inc., 8.0%, 11/15/18 8.0 11/15/2018 175,000 192,466
SanDisk Corp., 0.5%, 10/15/20 (144A) 0.5 10/15/2020 460,000 484,642
CityCenter Holdings LLC, 10/16/20 5.0 10/09/2020 250,000 252,902
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 8.25 06/07/2021 900,000 964,575
JPMorgan Chase & Co., 5.0%, 12/20/18 500.0 12/20/2018 -75,000,000 -7,253,057
Interactive Data Corp., 2/11/18 3.75 02/11/2018 117,991 118,433
Microsemi Corp., 2/19/20 3.75 02/19/2020 350,578 351,948
Cequel Communications LLC, 2/14/19 3.5 01/31/2019 396,970 397,589
inVentiv Health, Inc., 5/15/18 7.75 06/24/2018 133,714 133,129
AmeriGas Finance LLC, 7.0%, 5/20/22 7.0 05/20/2022 165,000 183,503
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 6.75 10/01/2020 380,000 345,088
Hilton USA Trust 2013-HLF, Floating Rate Note, 11/5/30 (144A) 2.908 11/05/2030 1,900,000 1,910,265
Unifrax I LLC, 7.5%, 2/15/19 (144A) 7.5 02/15/2019 630,000 673,050
Massachusetts Development Finance Agency, 5.25%, 4/1/37 5.25 04/01/2037 100,000 108,566
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 6.75 06/15/2021 1,425,000 1,416,806
MetroPCS Wireless, Inc., 7.875%, 9/1/18 7.875 09/01/2018 100,000 110,438
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 11.779 11/10/2016 500,000 541,380
Taminco Global Chemical Corp., Initial Tranche B-3 Dollar Term Loan, 2/15/19 3.25 02/15/2019 344,640 345,645
Bright Horizons Family Solutions, Inc., 1/30/20 4.0 01/14/2020 495,000 497,991
IAP Worldwide Services, Inc., 12/31/15 10.0 12/31/2015 110,049 34,941
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 6.75 04/01/2020 445,000 487,553
Wastequip LLC, 8/9/19 5.5 08/08/2019 497,500 499,988
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 12.8159 12/06/2016 250,000 281,076
KB Home, 7.0%, 12/15/21 7.0 12/15/2021 1,400,000 1,534,711
Lennar Corp., 4.75%, 11/15/22 4.75 11/15/2022 450,000 436,044
Bayview Commercial Asset Trust, Floating Rate Note, 8/25/35 (144A) 0.4655 08/25/2035 1,400,000 332,781
Halcon Resources Corp., 9.75%, 7/15/20 9.75 07/15/2020 1,050,000 1,118,206
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 7.375 02/01/2020 300,000 319,844
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 5.85 05/21/2043 1,550,000 1,478,313
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 9.25 06/01/2020 1,000,000 1,125,625
Steward Health Care System LLC, 4/10/20 6.75 04/12/2020 497,500 497,189
Emdeon, Inc., 11/2/18 3.75 11/02/2018 789,534 792,659
Infor US, Inc., Tranche B-5 Term Loan, 6/3/20 3.75 06/03/2020 222,023 222,162
SM Energy Co., 5.0%, 1/15/24 (144A) 5.0 01/15/2024 455,000 446,532
Micron Technology, Inc., 5.875%, 2/15/22 (144A) 5.875 02/15/2022 750,000 786,320
WellPoint, Inc., 2.75%, 10/15/42 2.75 10/15/2042 300,000 411,679
Hostess Brands, Inc., 4/9/20 6.75 02/25/2020 680,000 708,050
Citicorp Residential Mortgage Trust Series 2006-1, 5.939%, 7/25/36 (Step) 5.939 07/25/2036 125,000 96,400
Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 7/25/34 2.4511 07/25/2034 406,549 74,329
Seminole Hard Rock Entertainment, Inc., 5/14/20 3.5 04/29/2020 298,500 299,060
Beverage Packaging Holdings Luxembourg II SA, 6.0%, 6/15/17 (144A) 6.0 06/15/2017 300,000 316,050
Immucor, Inc., 11.125%, 8/15/19 11.125 08/15/2019 100,000 113,244
Allison Transmission, Inc., 8/23/19 3.5 08/23/2019 561,690 563,211
Trust F, 5.25%, 12/15/24 (144A) 5.25 12/15/2024 400,000 399,808
Steel Dynamics, Inc., 5.25%, 4/15/23 5.25 04/15/2023 1,000,000 1,047,333
Qtel International Finance, Ltd., 3.875%, 1/31/28 (144A) 3.875 01/31/2028 200,000 183,669
Ventas Realty LP, 4.75%, 6/1/21 4.75 06/01/2021 150,000 163,218
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 5.75 12/15/2018 680,000 720,880
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 5.165 07/10/2045 350,000 352,561
HJ Heinz Co., 6/5/20 3.5 03/27/2020 398,000 401,580
Mentor Graphics Corp., 4.0%, 4/1/31 4.0 04/01/2031 175,000 220,354
American Airlines, Inc., 6/27/19 3.75 06/21/2019 348,250 349,774
Residential Reinsurance 2013, Ltd., Floating Rate Note, 12/6/17 (Cat Bond) (144A)   12/06/2017 250,000 250,825
Valeant Pharmaceuticals International, Inc., 8/5/20 3.75 05/20/2020 843,516 852,026
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 7.0 05/15/2018 1,365,000 1,478,447
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 7.25 01/15/2018 700,000 747,610
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 6.875 02/15/2019 825,000 854,792
Virginia Resources Authority, 5.0%, 11/1/42 5.0 11/01/2042 1,000,000 1,095,387
Outerwall, Inc., 6.0%, 3/15/19 6.0 03/15/2019 435,000 464,435
CommScope, Inc., Tranche 4 Term Loan, 1/14/18 3.25 01/14/2018 158,693 159,586
Federal Home Loan Mortgage Corp., Floating Rate Note, 5/25/45 (144A) 4.0365 05/25/2045 175,000 161,592
Fidelity National Financial, Inc., 5.5%, 9/1/22 5.5 09/01/2022 250,000 272,357
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 4.25 06/30/2019 296,629 299,966
Rural, 6/30/18 8.0 03/28/2018 85,610 81,383
Gray Television, Inc., 10/12/19 4.75 10/11/2019 275,000 277,320
Univision Communications, Inc., 6.875%, 5/15/19 (144A) 6.875 05/15/2019 150,000 164,286
Duff & Phelps LLC, 4/23/20 4.5 03/14/2020 626,851 628,026
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 6.75 01/31/2021 200,000 208,975
CenturyLink, Inc., 7.6%, 9/15/39 7.6 09/15/2039 150,000 146,632
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 825,000 790,625
Guggenheim Partners Investment Management Holdings LLC, 7/22/20 4.25 07/09/2020 448,875 454,065
Epiq Systems, Inc., 8/27/20 4.75 08/26/2020 598,500 602,241
Bosphorus 1 Re, Ltd., Floating Rate Note, 5/3/16 (Cat Bond) (144A) 2.5608 05/03/2016 250,000 251,169
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20   03/01/2020 520,927 522,935
j2 Global, Inc., 8.0%, 8/1/20 8.0 08/01/2020 705,000 771,388
Tar Heel Re, Ltd., Floating Rate Note, 5/9/16 (Cat Bond) (144A) 8.6558 05/09/2016 500,000 540,832
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 8.25 01/15/2021 1,050,000 1,092,569
Fly Funding II Sarl, 8/8/18 4.5 08/09/2018 753,741 765,675
PetroQuest Energy, Inc., 10.0%, 9/1/17 10.0 09/01/2017 500,000 558,750
GCI, Inc., 8.625%, 11/15/19 8.625 11/15/2019 458,000 503,981
Pelican Products, Inc., Repriced Term Loan (First Lien), 6/9/18 4.6074 06/09/2018 443,250 447,268
Pacific Drilling SA, 5.375%, 6/1/20 (144A) 5.375 06/01/2020 450,000 461,672
Copano Energy LLC, 7.125%, 4/1/21 7.125 04/01/2021 373,000 436,210
US Renal Care, Inc., 7/3/19 4.25 07/03/2019 649,000 655,084
JLL, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 705,000 722,919
Hercules Offshore, Inc., 8.75%, 7/15/21 (144A) 8.75 07/15/2021 905,000 1,019,193
Verizon Communications, Inc., 6.55%, 9/15/43 6.55 09/15/2043 1,030,000 1,291,454
CenturyLink, Inc., 7.65%, 3/15/42 7.65 03/15/2042 800,000 780,220
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 1,342,000 1,532,862
Akamai Technologies, Inc., 0.0%, 2/15/19 (144A) 0.0 02/15/2019 760,000 769,505
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 5.35 04/29/2049 350,000 333,638
Ukraine Government International Bond, 7.5%, 4/17/23 (144A) 7.5 04/17/2023 200,000 181,583
HSBC Bank USA NA New York NY, 6.0%, 8/9/17 6.0 08/09/2017 250,000 284,097
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 7.0 05/15/2022 210,000 238,478
Allegion US Holding Co, Inc., 5.75%, 10/1/21 (144A) 5.75 10/01/2021 930,000 992,523
Sirius XM Holdings, Inc., 5.25%, 8/15/22 (144A) 5.25 08/15/2022 200,000 207,467
WMG Acquisition Corp., 6.0%, 1/15/21 (144A) 6.0 01/15/2021 171,000 180,006
Tower Automotive Holdings USA LLC, Refinancing Term Loan, 4/23/20   04/23/2020 932,962 934,128
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 6.5 12/15/2020 500,000 538,111
Wna Holdings Inc Tl-B L + 3.25% 07jun20 4.5 06/07/2020 250,000 252,500
Key Energy Services, Inc., 6.75%, 3/1/21 6.75 03/01/2021 585,000 632,531
RAMP Series 2004-RZ1 Trust, 4.82%, 3/25/34 (Step) 4.82 03/25/2034 3,164,644 1,062,717
Axiall Corp., 4.875%, 5/15/23 (144A) 4.875 05/15/2023 500,000 500,927
MSO of Puerto Rico, Inc., 12/12/17 9.75 12/12/2017 26,098 26,293
MacDermid, Inc., 6/7/20 4.0 06/06/2020 845,750 852,093
The Bank of New York Mellon Corp., Floating Rate Note, 12/31/49 (Perpetual) 4.5 12/29/2049 1,250,000 1,168,906
Chemtura Corp., 5.75%, 7/15/21 5.75 07/15/2021 930,000 974,193
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 7.4355 01/09/2017 1,000,000 1,051,283
Wilton Re Finance LLC, Floating Rate Note, 3/30/33 (144A) 5.875 03/30/2033 165,000 168,241
MedAssets, Inc., 12/13/19 4.0 11/20/2019 354,825 356,378
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 8.0659 06/06/2016 250,000 280,047
Tata Chemicals North America, Inc., 8/7/20 3.75 08/08/2020 248,750 250,149
Drillships Financing Holding, Inc., 3/31/21 6.0 03/02/2021 995,000 1,017,181
Landry's, Inc., 4/24/18 4.0 03/22/2018 529,130 533,320
Bankrate, Inc., 6.125%, 8/15/18 (144A) 6.125 08/15/2018 1,150,000 1,214,943
Midstates Petroleum Co, Inc., 10.75%, 10/1/20 10.75 10/01/2020 650,000 742,490
Mastr Specialized Loan Trust, Floating Rate Note, 11/25/34 (144A) 5.5 11/25/2034 775,000 757,668
Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK) 8.5 10/15/2017 1,000,000 1,053,361
The PNC Financial Services Group, Inc., Floating Rate Note, 12/31/49 (Perpetual) 4.85 05/29/2049 325,000 299,691
Hunter Defense Technologies, Inc., 8/22/14 3.49 08/22/2014 155,209 141,240
Essar Steel Algoma, Inc., 9/19/14 9.25 09/12/2014 123,438 124,248
Mirror BidCo Corp., New Incremental Term Loan, 12/18/19   12/18/2019 925,690 931,283
Brookfield Residential Properties, Inc., 6.125%, 7/1/22 (144A) 6.125 07/01/2022 280,000 290,558
CommScope, Inc., 8.25%, 1/15/19 (144A) 8.25 01/15/2019 191,000 210,203
Credit Suisse Group Guernsey I, Ltd., Floating Rate Note, 2/24/41 7.875 02/24/2041 650,000 709,983
PPL Capital Funding, Inc., 5.9%, 4/30/73 5.9 04/30/2073 25,000 563,000
DynCorp International, Inc., 7/7/16 6.25 07/07/2016 97,431 98,283
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 7.875 10/15/2019 500,000 539,875
Chiquita Brands International, Inc., 7.875%, 2/1/21 7.875 02/01/2021 928,000 1,028,746
Constellation Brands, Inc., 4.25%, 5/1/23 4.25 05/01/2023 485,000 482,171
Burger King Corp., 9/28/19 3.75 09/28/2019 77,025 77,540
Sierra Timeshare 2011-3 Receivables Funding LLC, 9.31%, 7/20/28 (144A) 9.31 07/20/2028 750,000 296,513
OneBeacon US Holdings, Inc., 4.6%, 11/9/22 4.6 11/09/2022 1,000,000 1,014,955
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 8.549 01/05/2017 1,000,000 1,081,248
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8.25 10/19/2019 800,000 800,200
Ruby Western Pipeline Holdings LLC, 3/27/20 3.5 03/27/2020 275,243 275,622
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 7.5 12/01/2020 385,000 409,544
Murphy Oil USA, Inc., 6.0%, 8/15/23 (144A) 6.0 08/15/2023 1,000,000 1,020,167
NovaStar Mortgage Funding Trust Series 2003-1, Floating Rate Note, 5/25/33 0.9155 05/25/2033 10,571,000 315,644
Ares Capital Corp., 4.875%, 11/30/18 4.875 11/30/2018 700,000 740,362
Delta Air Lines 2010-1 Class B Pass Through Trust, 6.375%, 1/2/16 (144A) 6.375 01/02/2016 400,000 432,179
Generac Power Systems, Inc., 5/31/20 3.5 05/22/2019 716,400 718,788
Urbi Desarrollos Urbanos SAB de CV, 0.0%, 1/21/20 (144A) 0.0 01/21/2020 200,000 43,611
Wynn Las Vegas LLC, 4.25%, 5/30/23 (144A) 4.25 05/30/2023 205,000 201,565
Targus Group International, Inc., 5/24/16 12.0 05/12/2016 93,223 83,900
Albany Molecular Research, Inc., 2.25%, 11/15/18 (144A) 2.25 11/15/2018 1,080,000 1,297,755
Delta Air Lines, Inc., 2014 Term B-1 Loan, 10/18/18   10/18/2018 173,250 173,993
Syniverse Holdings, Inc., 4/23/19 4.0 04/23/2019 484,761 487,185
Ardagh Packaging Finance Plc, 7.375%, 10/15/17 (144A) 7.375 10/15/2017 150,000 226,723
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 10.3108 01/08/2015 250,000 263,850
Banco de Bogota SA, 5.375%, 2/19/23 (144A) 5.375 02/19/2023 500,000 490,896
Credit Suisse Mortgage Capital Certificates, Floating Rate Note, 2/15/29 3.26 02/15/2029 2,000,000 2,001,696
RTI International Metals, Inc., 1.625%, 10/15/19 1.625 10/15/2019 385,000 380,385
Citicorp Residential Mortgage Trust Series 2006-2, 5.948%, 9/25/36 (Step) 5.948 09/25/2036 1,900,000 1,002,076
Calpine Construction Finance Co LP, 5/3/20 3.0 05/01/2020 532,325 527,002
Caraustar Industries, Inc., 5/1/19 7.5 04/25/2019 205,000 209,911
First American Financial Corp., 4.3%, 2/1/23 4.3 02/01/2023 200,000 195,509
Longpoint Re, Ltd. III, Floating Rate Note, 5/18/16 (Cat Bond) (144A) 4.0456 05/18/2016 500,000 510,056
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 5.6758 01/25/2033 200,000 36,407
Seagate HDD Cayman, 7.0%, 11/1/21 7.0 11/01/2021 200,000 226,333
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 1,365,000 1,446,341
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6.875 11/01/2019 400,000 375,167
Apex Tool Group LLC, 1/31/20 4.5 02/01/2020 645,498 640,173
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 250,000 254,725
JobsOhio Beverage System, 4.532%, 1/1/35 4.532 01/01/2035 75,000 73,324
Regal Entertainment Group, 5.75%, 3/15/22 5.75 03/15/2022 675,000 690,188
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 5.0 08/25/2053 570,000 547,910
Crossmark Holdings, Inc., 12/20/19 4.5 01/31/2020 198,124 197,629
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 5.273 12/11/2038 2,642,507 2,633,401
JPMorgan Chase & Co., Floating Rate Note, 12/31/49 (Perpetual) 5.15 12/29/2049 1,525,000 1,467,304
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 4.0558 05/05/2017 1,250,000 1,256,681
Energy XXI Gulf Coast, Inc., 7.5%, 12/15/21 (144A) 7.5 12/15/2021 1,360,000 1,442,733
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 4.5 10/13/2028 1,400,000 1,404,113
The Ryland Group, Inc., 5.375%, 10/1/22 5.375 10/01/2022 95,000 95,465
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) 3.5 03/01/2021 990,000 979,099
Tempur Sealy International, Inc., 3/18/20 3.5 03/18/2020 127,113 127,328
Ciena Corp., 0.875%, 6/15/17 0.875 06/15/2017 1,000,000 1,035,597
VOLT XX LLC, 5.25%, 2/1/39 (Step) (144A) 5.25 02/01/2039 1,500,000 1,451,973
MetLife, Inc., 6.4%, 12/15/66 6.4 12/15/2036 300,000 316,953
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 8.955 12/06/2015 250,000 267,928
Univision Communications, Inc., 5.125%, 5/15/23 (144A) 5.125 05/15/2023 750,000 780,068
Cumulus Media Holdings, Inc., 7.75%, 5/1/19 7.75 05/01/2019 450,000 497,625
Regal Entertainment Group, 5.75%, 2/1/25 5.75 02/01/2025 470,000 461,090
Aspen Insurance Holdings, Ltd., Floating Rate Note, 12/31/49 (Perpetual) 5.95   25,000 623,750
Altisource Solutions Sarl, 12/9/20 4.5 12/09/2020 644,132 647,353
Linn Energy LLC, 7.0%, 11/1/19 (144A) 7.0 11/01/2019 900,000 959,250
Federal Home Loan Mortgage Corp., 4.5%, 6/1/41 4.5 06/01/2041 2,749,325 1,146,232
Mueller Water Products, Inc., 7.375%, 6/1/17 7.375 06/01/2017 400,000 418,375
NBTY, Inc., 10/1/17 3.5 10/01/2017 750,000 753,633
Conseco Financial Corp., 6.18%, 4/1/30 6.18 04/01/2030 2,201,000 261,657
RKI Exploration & Production LLC, 8.5%, 8/1/21 (144A) 8.5 08/01/2021 1,345,000 1,455,402
Fieldwood Energy LLC, 9/25/18 3.875 09/25/2018 250,000 251,068
Shutterfly, Inc., 0.25%, 5/15/18 (144A) 0.25 05/15/2018 1,915,000 2,111,500
Brocade Communications Systems, Inc., 4.625%, 1/15/23 (144A) 4.625 01/15/2023 915,000 870,082
Ocean Rig UDW, Inc., 9.5%, 4/27/16 9.5 04/27/2016 400,000 434,589
Spirit Master Funding LLC, 5.74%, 3/20/25 (144A) 5.74 03/20/2025 500,000 466,634
MGM Resorts International, 4.25%, 4/15/15 4.25 04/15/2015 550,000 856,518
Vedanta Resources Plc, 6.0%, 1/31/19 (144A) 6.0 01/31/2019 650,000 652,221
TimberStar Trust 1, 7.5296%, 10/15/36 (144A) 7.5296 10/15/2036 30,000 30,867
Pro Mach, Inc., 7/6/17 4.5 07/16/2017 892,989 898,012
The Quikrete Companies, Inc., 9/26/20 4.0 09/19/2020 279,300 281,119
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 7.75 01/31/2023 400,000 399,169
ConvaTec, Inc., 12/22/16 4.0 12/01/2016 96,960 97,566
Ardagh Glass Finance Plc, 8.75%, 2/1/20 (144A) 8.75 02/01/2020 600,000 898,166
East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A) 6.6575 03/13/2015 250,000 261,664
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 5.3108 03/07/2016 500,000 510,002
Emdeon, Inc., 11.0%, 12/31/19 11.0 12/31/2019 200,000 234,728
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 10.5 12/15/2018 100,000 113,467
NEP, Refinanced New Term Loan (First Lien), 1/22/20 4.75 01/03/2020 198,000 199,073
Gibraltar Industries, Inc., 6.25%, 2/1/21 6.25 02/01/2021 1,000,000 1,060,208
Serena Software, Inc., 3/10/16 4.1555 03/10/2016 450,000 446,344
USI, Inc. New York, 7.75%, 1/15/21 (144A) 7.75 01/15/2021 500,000 524,951
BlueScope Steel Finance, Ltd., 7.125%, 5/1/18 (144A) 7.125 05/01/2018 730,000 791,138
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 5.135 10/15/2039 100,000 90,348
Ocwen Loan Servicing LLC, 2/15/18 5.0 01/15/2018 770,431 777,890
Drill Rigs Holdings, Inc., 6.5%, 10/1/17 (144A) 6.5 10/01/2017 845,000 910,135
US Bancorp, Floating Rate Note, 12/31/49 (Perpetual) 6.0   16,400 451,984
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 4.125 03/15/2018 150,000 121,259
Springleaf Mortgage Loan Trust, Floating Rate Note, 6/25/58 (144A) 5.58 06/25/2058 250,000 249,994
Bear Stearns ALT-A Trust 2003-3, Floating Rate Note, 10/25/33 2.3621 10/25/2033 19,000,000 123,826
Altrl Flt% 30jun16   06/30/2016 2,400,000 2,427,360
International Equipment Solutions LLC, 8/16/19 6.75 07/25/2019 695,000 698,041
CHS, 8.0%, 11/15/19 8.0 11/15/2019 1,075,000 1,219,647
ViaSat, Inc., 6.875%, 6/15/20 6.875 06/15/2020 100,000 107,826
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 9.0608 03/12/2015 250,000 265,463
WCP ISSUER LLC, 6.657%, 8/15/20 (144A) 6.657 08/15/2020 400,000 416,276
ExGen Renewables I LLC, Term Loan, 2/5/21 5.25 02/05/2021 1,150,000 1,173,000
Nordea Bank AB, 4.25%, 9/21/22 (144A) 4.25 09/21/2022 250,000 257,022
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 250,000 50,078
World Kitchen LLC, 3/4/19 4.6074 02/13/2019 188,034 190,384
Leaf Receivables Funding 8 LLC, 5.5%, 9/15/20 (144A) 5.5 09/15/2020 145,527 142,390
WebMD Health Corp., 2.5%, 1/31/18 2.5 01/31/2018 100,000 102,465
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 8.5 02/15/2018 100,000 179,109
Schaeffler Finance BV, 4.75%, 5/15/21 (144A) 4.75 05/15/2021 1,000,000 1,026,486
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 10.0 08/15/2021 800,000 795,556
Athlon Holdings LP, 7.375%, 4/15/21 (144A) 7.375 04/15/2021 470,000 511,295
CNO Financial Group, Inc., 6.375%, 10/1/20 (144A) 6.375 10/01/2020 650,000 709,516
Fannie Mae, 4.5%, 8/1/40 4.5 08/01/2040 3,070,237 1,665,690
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/47 (Step) 6.407 08/28/2047 1,288,834 118,728
Affinion Group, Inc., 10/9/16 6.75 10/09/2016 973,889 964,585
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/15/49 5.7841 03/15/2049 300,000 313,394
Darling International, Inc., 5.375%, 1/15/22 (144A) 5.375 01/15/2022 1,060,000 1,097,163
Kane-Pi4 Zero% 18jul16 0.0 07/18/2016 1,505,000 1,522,759
Del Monte 1st Lien Tl-B L + 0% 24feb20   02/24/2020 316,303 317,225
NRG Energy, Inc., 7.625%, 5/15/19 7.625 05/15/2019 79,000 84,526
Salix Pharmaceuticals, Ltd., 1.5%, 3/15/19 1.5 03/15/2019 500,000 887,521
Atrium Innovations, Inc., Initial Tranche B-1 Term Loan (First Lien), 1/29/21   01/29/2021 600,000 600,938
Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A) 8.625 02/01/2020 1,265,000 1,302,555
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 7.125   63,000 1,678,950
United States Steel Corp., 2.75%, 4/1/19 2.75 04/01/2019 250,000 303,177
Glencore Funding LLC, 4.125%, 5/30/23 (144A) 4.125 05/30/2023 200,000 194,115
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 9.875 02/01/2020 300,000 321,219
Cia de Transporte de Energia Electrica en Alta Tension Transener SA, 9.75%, 8/15/21 (144A) 9.75 08/15/2021 100,000 62,433
Residential Reinsurance 2013, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 9.3159 06/06/2017 250,000 265,960
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/15/48 (144A) 4.3571 03/15/2048 200,000 182,026
SIWF Merger Sub, Inc., 6.25%, 6/1/21 (144A) 6.25 06/01/2021 400,000 416,250
FREMF Mortgage Trust 2012-K708, Floating Rate Note, 2/25/45 (144A) 3.7586 02/25/2045 200,000 197,211
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 500,000 540,313
DR Horton, Inc., 5.75%, 8/15/23 5.75 08/15/2023 905,000 950,300
Banc of America Merrill Lynch Commercial Mortgage, Inc., Floating Rate Note, 9/10/47 (144A) 5.7204 09/10/2047 160,000 147,977
Chrysler Group LLC, 8.25%, 6/15/21 8.25 06/15/2021 100,000 114,992
Unison Ground Lease Funding LLC, 5.78%, 3/15/20 (144A) 5.78 03/15/2020 300,000 290,130
Diamond Foods, Inc., Loan, 8/12/18 4.25 08/12/2018 475,000 477,074
Glenn Pool Oil & Gas Trust, 5/2/16 4.5 06/01/2016 45,312 45,822
Unifrax I LLC, 11/28/18 4.25 12/31/2019 321,124 323,181
Albea Beauty Holdings SA, 8.375%, 11/1/19 (144A) 8.375 11/01/2019 255,000 280,606
Memorial Production Partners LP, 7.625%, 5/1/21 (144A) 7.625 05/01/2021 400,000 432,167
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 2.25 05/15/2041 1,480,000 1,349,205
Cepheid, Inc., 1.25%, 2/1/21 (144A) 1.25 02/01/2021 545,000 587,635
Pacific Drilling SA, 6/3/18 4.5 05/20/2018 547,250 551,765
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 9.0 01/28/2017 100,000 95,828
Aircastle, Ltd., 6.25%, 12/1/19 6.25 12/01/2019 200,000 221,125
Samson Investment Co., 10.5%, 2/15/20 (144A) 10.5 02/15/2020 390,000 435,251
Amkor Technology, Inc., 6.375%, 10/1/22 6.375 10/01/2022 285,000 302,545
Auxilium Pharmaceuticals, Inc., 1.5%, 7/15/18 1.5 07/15/2018 988,000 1,410,411
International Automotive Components Group SA, 9.125%, 6/1/18 (144A) 9.125 06/01/2018 400,000 429,125
Gardner Denver, Inc., 6.875%, 8/15/21 (144A) 6.875 08/15/2021 855,000 876,850
Virgin Media Investment Holdings, Ltd., 6/8/20 3.5 02/06/2020 790,000 790,000
Sabre GLBL, Inc., 2/19/19 5.25 02/01/2019 200,000 200,656
Windstream Corp., 8.125%, 9/1/18 8.125 09/01/2018 850,000 941,906
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 8.5 10/15/2022 210,000 245,618
Gtech Spa, Floating Rate Note, 3/31/66 (144A) 8.25 03/31/2066 300,000 475,153
Live Nation Entertainment, Inc., 8/17/20 3.5 08/16/2020 426,930 428,261
Tank Holding Corp., 7/9/19 4.25 06/08/2019 750,791 751,354
AgStar Financial Services ACA, Floating Rate Note, 12/31/49 (Perpetual) (144A) 6.75   1,500 1,498,969
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 620,000 668,386
BWAY Holding Co., 8/6/17 4.5 08/06/2017 744,241 749,707
Lennar Corp., 4.5%, 6/15/19 4.5 06/15/2019 1,175,000 1,202,759
JLL, Term Loan, 1/23/21   01/23/2021 450,000 449,156
Intelsat Jackson Holdings SA, 7.5%, 4/1/21 7.5 04/01/2021 150,000 170,063
New York State Dormitory Authority, 5.0%, 10/1/41 5.0 10/01/2041 1,000,000 1,106,433
Endo Finance Co., 5.75%, 1/15/22 (144A) 5.75 01/15/2022 375,000 391,500
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 1,450,000 1,460,875
Goodman Funding Pty, Ltd., 6.375%, 4/15/21 (144A) 6.375 04/15/2021 250,000 290,121
Westgate Resorts 2012-2 LLC, 9.0%, 1/20/25 (144A) 9.0 01/20/2025 750,000 408,151
Morgan Stanley Capital I Trust 2007-TOP25, Floating Rate Note, 11/12/49 5.574 11/12/2049 1,500,000 1,539,143
Molina Healthcare, Inc., 1.125%, 1/15/20 (144A) 1.125 01/15/2020 1,100,000 1,229,456
Par Pharmaceutical Companies, Inc., Term B-2 Loan, 9/28/19 4.1053 09/28/2019 500,000 501,407
Validus Holdings, Ltd., 8.875%, 1/26/40 8.875 01/26/2040 200,000 275,251
JPMorgan Chase & Co., 4.35%, 8/15/21 4.35 08/15/2021 200,000 216,061
HLSS Servicer Advance Receivables Trust, 4.4584%, 1/15/48 (144A) 4.4584 01/15/2048 400,000 405,713
JP Morgan Mortgage Trust 2005-A7, Floating Rate Note, 10/25/35 2.7084 10/25/2035 2,900,000 197,631
Marfrig Holding Europe BV, 11.25%, 9/20/21 (144A) 11.25 09/20/2021 700,000 738,719
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 5.5 05/20/2021 1,360,000 1,329,102
Turkiye Sise ve Cam Fabrikalari AS, 4.25%, 5/9/20 (144A) 4.25 05/09/2020 400,000 366,689
DaVita HealthCare Partners, Inc., 11/1/19 4.0 08/01/2019 99,000 99,482
JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP7, Floating Rate Note, 4/15/45 5.8726 04/15/2045 1,400,000 1,443,037
Sotheby's, 5.25%, 10/1/22 (144A) 5.25 10/01/2022 260,000 256,588
The Goldman Sachs Group, Inc., 6.45%, 5/1/36 6.45 05/01/2036 300,000 338,298
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 6.0 12/15/2020 540,000 569,359
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 4.4 04/15/2019 150,000 150,134
Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A) 8.5 05/15/2020 700,000 831,862
Accredited Mortgage Loan Trust 2003-3, 5.21%, 1/25/34 (Step) 5.21 01/25/2034 3,700,000 563,845
Griffon Corp., 5.25%, 3/1/22 (144A) 5.25 03/01/2022 2,375,000 2,379,354
CAM Mortgage Trust, 5.5%, 12/15/53 (Step) (144A) 5.5 12/15/2053 750,000 748,332
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 100,000 107,189
SunPower Corp., 0.75%, 6/1/18 (144A) 0.75 06/01/2018 1,115,000 1,583,300
Barry Callebaut Services NV, 5.5%, 6/15/23 (144A) 5.5 06/15/2023 300,000 312,154
Hospitality Properties Trust, 5.0%, 8/15/22 5.0 08/15/2022 900,000 940,299
Nuance Communications, Inc., 2.75%, 11/1/31 2.75 11/01/2031 700,000 700,292
Air Canada 2013-1 Class A Pass Through Trust, 4.125%, 11/15/26 (144A) 4.125 05/15/2025 500,000 507,323
Quebecor Media, Inc., 8/17/20 3.25 08/01/2020 237,287 235,359
Wells Fargo & Co., 7.5%, 12/31/49 (Perpetual) 7.5   1,050 1,236,900
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 5.3356 02/13/2046 500,000 444,544
Pittsburgh Glass Works LLC, 8.0%, 11/15/18 (144A) 8.0 11/15/2018 535,000 596,109
Instituto Costarricense de Electricidad, 6.375%, 5/15/43 (144A) 6.375 05/15/2043 1,000,000 861,271
Avon Products, Inc., 5.0%, 3/15/23 5.0 03/15/2023 650,000 664,037
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 6.75 04/15/2021 345,000 379,673
KB Home, 8.0%, 3/15/20 8.0 03/15/2020 200,000 232,878
Sealy Corp., 8.0%, 7/15/16 (PIK) 8.0 07/15/2016 13,100 1,038,175
DigitalGlobe, Inc., 1/31/20 3.75 01/25/2020 699,466 700,992
Mythen Re, Ltd. Series 2013-1 Class B, Floating Rate Note, 7/9/15 (Cat Bond) (144A) 8.0 07/09/2015 250,000 262,958
Brown Shoe Co, Inc., 7.125%, 5/15/19 7.125 05/15/2019 750,000 810,734
Aeroflex, Inc., 11/9/19 4.5 11/24/2019 126,184 127,235
Beverage Packaging Holdings Luxembourg II SA, 5.625%, 12/15/16 (144A) 5.625 12/15/2016 200,000 208,625
Blackstone Holdings Finance Co LLC, 6.25%, 8/15/42 (144A) 6.25 08/15/2042 750,000 882,505
InterGen NV, 7.0%, 6/30/23 (144A) 7.0 06/30/2023 1,050,000 1,122,829
Molycorp, Inc., 10.0%, 6/1/20 10.0 06/01/2020 50,000 51,250
MasTec, Inc., 4.875%, 3/15/23 4.875 03/15/2023 150,000 148,872
WireCo WorldGroup, Inc., 9.5%, 5/15/17 9.5 05/15/2017 100,000 105,797
SandRidge Energy, Inc., 7.0%, 12/31/49 (Perpetual) 7.0   7,500 769,219
Gentiva Health Services, Inc., 10/10/19 6.5 10/10/2019 1,250,000 1,264,063
inVentiv Health, Inc., 8/4/16 7.5 08/04/2016 133,642 134,060
Tronox Finance LLC, 6.375%, 8/15/20 6.375 08/15/2020 1,270,000 1,308,523
Pacira Pharmaceuticals, Inc. Delaware, 3.25%, 2/1/19 3.25 02/01/2019 95,000 303,010
Morgan Stanley, 4.875%, 11/1/22 4.875 11/01/2022 250,000 267,860
Entegris Inc Bridge L + 0% 04feb15   02/04/2015 905,000 905,000
Intelsat Jackson Holdings SA, 7.25%, 4/1/19 7.25 04/01/2019 250,000 276,927
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 400,000 410,280
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 6.5 04/15/2021 190,000 190,866
Hologic, Inc., 8/1/19 3.25 08/01/2019 339,937 340,702
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 250,000 205,174
Metinvest BV, 8.75%, 2/14/18 (144A) 8.75 02/14/2018 1,100,000 967,045
CoBank ACB, Floating Rate Note, 12/31/49 (Perpetual) (144A) 6.25   5,000 503,750
Scottrade Financial Services, Inc., 6.125%, 7/11/21 (144A) 6.125 07/11/2021 900,000 914,691
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 2,500 288,150
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 10.0304 06/06/2016 500,000 568,006
Tiers Trust, Floating Rate Note, 10/15/97 (144A) 0.0   100,000 68,377
BioMarin Pharmaceutical, Inc., 0.75%, 10/15/18 0.75 10/15/2018 200,000 233,942
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 1,671,000 471,048
Credit Suisse First Boston Mortgage Securities Corp., 4.898%, 3/15/36 (144A) 4.898 03/15/2036 1,000,000 833,198
QR Energy LP, 9.25%, 8/1/20 9.25 08/01/2020 640,000 692,933
PATHEON INC, Bridge Loan, 12/11/14 7.25 12/11/2014 2,675,000 2,675,000
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 3.5558 05/05/2017 1,000,000 1,005,839
TOPRE_13-LTR, Floating Rate Note, 11/20/28 (144A) 4.25 11/20/2028 1,750,000 1,576,440
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 6.75 08/29/2049 1,835,000 1,940,168
AES Corp. Virginia, 4.875%, 5/15/23 4.875 05/15/2023 995,000 979,432
Unit Corp., 6.625%, 5/15/21 6.625 05/15/2021 550,000 596,479
Laureate Education, Inc., 6/16/18 5.0 06/16/2018 547,720 539,505
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 5.658 03/15/2045 304,000 305,618
Bank of America Corp., Floating Rate Note, 12/31/49 (Perpetual) 5.2 12/29/2049 300,000 285,900
Navistar, Inc., 8/17/17 5.75 07/31/2017 120,000 121,925
Generic Drug Holdings, Inc., 8/16/20 5.0 10/04/2019 894,833 901,544
Southern California Edison Co., Floating Rate Note, 12/31/49 (Perpetual) 6.25 08/01/2049 75,000 79,891
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 490,000 533,363
Boart Longyear Management Pty, Ltd., 7.0%, 4/1/21 (144A) 7.0 04/01/2021 1,670,000 1,267,808
Waupaca Foundry, Inc., 6/29/17 4.5 06/29/2017 316,499 317,290
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 7.875 04/15/2019 400,000 422,400
Offshore Group Investment, Ltd., 3/28/19 5.75 03/28/2019 397,000 402,955
Navistar International Corp., 8.25%, 11/1/21 8.25 11/01/2021 1,075,000 1,152,938
City of Charlotte North Carolina, 5.6%, 7/1/27 5.6 07/01/2027 1,250,000 1,258,079
TurboCombustor Technology, Inc., 10/18/20 5.5 10/18/2020 550,000 550,690
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 5.2819 01/25/2035 1,100,000 183,499
Sourcehov LLC, 4/30/18 5.25 04/30/2018 497,500 502,372
Republic of Ghana, 7.875%, 8/7/23 (144A) 7.875 08/07/2023 1,100,000 1,023,275
Avis Budget Finance Plc, 6.0%, 3/1/21 (144A) 6.0 03/01/2021 150,000 227,396
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 8.25 02/15/2021 425,000 465,871
Arc Automotive Group, Inc., 11/15/18 6.25 11/01/2018 544,500 548,584
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 8.6558 04/08/2016 1,000,000 1,067,561
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 6.95 10/17/2022 300,000 312,267
Applied Systems, Inc., Initial Term Loan (First Lien), 1/15/21 4.25 01/15/2021 223,178 224,963
NSG Holdings LLC, 12/11/19 3.75 11/15/2019 223,909 225,028
Immucor, Inc., 8/19/18 5.0 08/19/2018 445,996 449,062
Mythen Re, Ltd., Floating Rate Note, 5/7/15 (Cat Bond) (144A) 11.0316 05/07/2015 250,000 270,635
Nationstar Mortgage LLC, 6.5%, 8/1/18 6.5 08/01/2018 355,000 359,585
WR Grace & Co., U.S. Term Loan, 1/23/21 3.0 01/23/2021 483,791 484,245
SNAAC Auto Receivables Trust 2013-1, 4.56%, 4/15/20 (144A) 4.56 04/15/2020 450,000 449,326
Electricite de France, Floating Rate Note, 12/31/49 (Perpetual) (144A) 5.25 01/29/2049 1,500,000 1,517,500
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 12.0608 03/12/2015 500,000 541,883
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 7.25 06/01/2020 775,000 806,484
Commonwealth of the Bahamas, 5.75%, 1/16/24 (144A) 5.75 01/16/2024 1,700,000 1,712,219
Inkia Energy, Ltd., 8.375%, 4/4/21 (144A) 8.375 04/04/2021 100,000 111,420
Seven Seas Cruises S de RL LLC, 9.125%, 5/15/19 9.125 05/15/2019 200,000 226,374
Igloo Holdings Corp., 8.25%, 12/15/17 (144A) (PIK) 8.25 12/15/2017 200,000 208,483
Summit Midstream Holdings LLC, 7.5%, 7/1/21 (144A) 7.5 07/01/2021 1,030,000 1,104,675
Citicorp Residential Mortgage Trust Series 2007-1, 5.892%, 3/25/37 (Step) 5.892 03/25/2037 125,000 100,113
Transnet SOC, Ltd., 4.0%, 7/26/22 (144A) 4.0 07/26/2022 325,000 297,046
Countrywide Asset-Backed Certificates, Floating Rate Note, 10/25/35 4.456 10/25/2035 360,000 26,729
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/36 (144A) 0.3255 11/25/2036 9,809,888 463,957
Seven Seas Cruises S de RL LLC, Term B2 Loan, 12/21/18   12/21/2018 466,528 471,193
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 5.75 08/25/2036 1,200,000 165,562
Citicorp Residential Mortgage Trust Series 2006-1, 5.836%, 7/25/36 (Step) 5.836 07/25/2036 100,000 48,788
Grays Harbor County Public Utility District No 1, 5.0%, 7/1/43 5.0 07/01/2043 1,000,000 1,048,047
JMC Steel Group, Inc., 4/1/17 4.75 02/15/2017 396,076 397,479
Arcelik AS, 5.0%, 4/3/23 (144A) 5.0 04/03/2023 400,000 359,222
Altice Financing SA, 6.5%, 1/15/22 (144A) 6.5 01/15/2022 600,000 634,058
Gardner Denver, Inc., 7/30/20 4.25 07/23/2020 649,000 647,562
Arysta Lifescience SPC LLC, 5/29/20 4.5 05/22/2020 845,750 852,622
Harland Clarke Holdings Corp., 8/17/19   08/17/2019 330,000 331,169
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 6.375 04/01/2021 500,000 545,781
JobsOhio Beverage System, 3.985%, 1/1/29 3.985 01/01/2029 500,000 484,971
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 1,220,000 1,163,575
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 11.2753 11/10/2015 250,000 268,959
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 8.0 05/02/2018 350,000 326,006
Johnston Re, Ltd., Floating Rate Note, 5/8/14 (Cat Bond) (144A) 6.96 05/08/2014 1,875,000 1,918,344
FCI - FIDJI LUXEMBOURG BC4 SARL, Term Loan, 12/19/20 6.25 12/19/2020 420,000 423,150
Penn Virginia Corp., 7.25%, 4/15/19 7.25 04/15/2019 600,000 641,933
PDL BioPharma, Inc., 4.0%, 2/1/18 4.0 02/01/2018 975,000 1,004,480
Belden, Inc., 5.5%, 9/1/22 (144A) 5.5 09/01/2022 1,860,000 1,887,900
Neiman Marcus Group, Ltd. LLC, 10/18/20 5.0 10/18/2020 364,088 368,740
Sanchez Energy Corp., 7.75%, 6/15/21 (144A) 7.75 06/15/2021 380,000 403,317
Vita Capital V, Ltd., Floating Rate Note, 1/15/17 (Cat Bond) (144A) 0.0384 01/15/2017 250,000 255,131
Firstar Realty LLC, 8.875%, 12/31/49 (Perpetual) (144A) 8.875   400 487,250
Northern Oil and Gas, Inc., 8.0%, 6/1/20 8.0 06/01/2020 880,000 954,800
ING US, Inc., Floating Rate Note, 5/15/53 5.65 05/15/2053 615,000 612,931
Bayview Commercial Asset Trust, Floating Rate Note, 4/25/34 (144A) 1.3555 04/25/2034 4,900,000 537,896
Jefferies Group LLC, 5.125%, 1/20/23 5.125 01/20/2023 950,000 1,019,312
Credit Suisse Group AG, Floating Rate Note, 12/31/49 (Perpetual) (144A) 7.5 12/31/2049 200,000 223,093
Vantage Pipeline Canada ULC, 8/21/20 4.0 08/22/2020 65,891 66,385
AEP Industries, Inc., 8.25%, 4/15/19 8.25 04/15/2019 485,000 531,641
Heckler & Koch GmbH, 9.5%, 5/15/18 (144A) 9.5 05/15/2018 100,000 148,590
Psav Presentation Services 1st Lien Tl-B L + 3.5% 24jan21   01/24/2021 115,000 115,863
Del Monte Foods, Inc., Initial Loan (Second Lien), 5/26/21 7.25 05/26/2021 590,000 598,297
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 700,000 757,677
NCI Building Systems, Inc., 6/24/19 4.25 06/04/2019 497,483 499,286
The Williams Companies, Inc., 7.75%, 6/15/31 7.75 06/15/2031 100,000 111,876
Resolute Forest Products, Inc., 5.875%, 5/15/23 (144A) 5.875 05/15/2023 1,610,000 1,605,651
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 7.78 03/25/2027 5,850,000 307,624
STORE Master Funding LLC, 4.16%, 3/20/43 (144A) 4.16 03/20/2043 200,000 200,320
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 330,000 373,523
The Hillman Companies, Inc., 5/28/17 3.75 05/31/2016 221,565 223,134
Sensus USA, Inc., 5/9/17 4.75 04/13/2017 245,583 247,079
Appvion, Inc., 6/28/19 5.75 06/04/2019 995,000 1,005,157
Intelsat Jackson Holdings SA, 6.625%, 12/15/22 (144A) 6.625 12/15/2022 850,000 908,638
VeriSign, Inc., 4.625%, 5/1/23 4.625 05/01/2023 335,000 331,790
Par Pharmaceutical Companies, Inc., 7.375%, 10/15/20 7.375 10/15/2020 610,000 677,320
Altair Re, Floating Rate Note, 4/30/16 (Cat Bond) 0.0 04/30/2016 224,993 249,900
On Assignment, Inc., 5/15/20 3.5 05/16/2020 367,182 367,332
Chrysler Group LLC, Tranche B Term Loan, 12/29/18 3.25 12/29/2018 2,025,000 2,022,469
WMG Acquisition Corp., 7/1/20 3.75 07/03/2020 683,288 683,821
CommScope Holding Co, Inc., 6.625%, 6/1/20 (144A) (PIK) 6.625 06/01/2020 650,000 698,141
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 8.75 05/15/2018 750,000 1,106,878
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 1,300,000 1,329,403
WEX, Inc., 4.75%, 2/1/23 (144A) 4.75 02/01/2023 400,000 377,583
New York Mortgage Securitization Trust 2012-1, Floating Rate Note, 12/27/47 (144A) 6.6545 12/27/2047 300,000 301,831
NRG Energy, Inc., 6.25%, 7/15/22 (144A) 6.25 07/15/2022 250,000 261,476
Windstream Corp., 1/23/20 3.5 01/08/2020 198,496 198,931
Maine Health & Higher Educational Facilities Authority, 5.0%, 7/1/43 5.0 07/01/2043 1,000,000 1,051,493
Exopack Holdings SA, 4/14/19 5.25 04/14/2019 30,000 30,475
Accellent, Inc., 10.0%, 11/1/17 10.0 11/01/2017 300,000 333,625
Intel Corp., 2.95%, 12/15/35 2.95 12/15/2035 300,000 344,056
East Lane Re, Ltd., Floating Rate Note, 3/14/14 (Cat Bond) (144A) 5.8108 03/14/2014 250,000 252,995
New Hampshire Health and Education Facilities Authority Act, 6.5%, 1/1/41 6.5 01/01/2041 150,000 165,787
Wedgewood Real Estate Trust 2013-1, Floating Rate Note, 7/25/43 (144A) 5.0 07/25/2043 1,000,000 44,126
A10 Securitization 2013-1 LLC, 6.41%, 11/15/25 (144A) 6.41 11/15/2025 139,000 138,902
Univar, Inc., 6/30/17 5.0 02/14/2017 268,588 267,301
Golar LNG Partners LP, Floating Rate Note, 10/12/17 6.84 10/12/2017 2,000,000 350,619
Bank of America Corp., 7.25%, 12/31/49 (Perpetual) 7.25   1,340 1,545,074
Atwood Oceanics, Inc., 6.5%, 2/1/20 6.5 02/01/2020 900,000 974,625
CNL Lifestyle Properties, Inc., 7.25%, 4/15/19 7.25 04/15/2019 600,000 646,433
WireCo WorldGroup, Inc., 2/15/17 6.0 04/13/2017 49,375 49,838
Radio Systems Corp., 8.375%, 11/1/19 (144A) 8.375 11/01/2019 600,000 684,250
Multi Packaging Solutions 1st Lien Tl-B L + 3.25% 30sep20   09/30/2020 250,000 252,344
Sirius XM Holdings, Inc., 4.625%, 5/15/23 (144A) 4.625 05/15/2023 370,000 352,839
CarNow Auto Receivables Trust 2012-1, 6.9%, 11/15/16 (144A) 6.9 11/15/2016 100,000 102,066
Pinnacle Foods Finance LLC, 4/29/20 3.25 04/16/2020 198,500 198,345
Ship Midco, Ltd., 11/29/19 5.25 08/06/2017 98,939 100,028
Targa Resources Partners LP, 4.25%, 11/15/23 (144A) 4.25 11/15/2023 740,000 704,860
Morgan Stanley Capital I, Inc., Floating Rate Note, 7/15/32 (144A) 7.35 07/15/2032 105,000 33,613
BRF SA, 3.95%, 5/22/23 (144A) 3.95 05/22/2023 250,000 219,591
Springleaf Funding Trust 2013-A, 5.0%, 9/15/21 (144A) 5.0 09/15/2021 500,000 505,486
Packaging Dynamics Corp., 8.75%, 2/1/16 (144A) 8.75 02/01/2016 340,000 351,404
Post Holdings, Inc., 7.375%, 2/15/22 7.375 02/15/2022 200,000 218,406
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 7.5043 03/01/2022 200,000 216,154
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 7.25 05/01/2019 400,000 415,667
Cosan Luxembourg SA, 5.0%, 3/14/23 (144A) 5.0 03/14/2023 240,000 224,807
Syniverse Holdings, Inc., 4/23/19 4.0 04/10/2019 239,957 241,306
EV Energy Partners LP, 8.0%, 4/15/19 8.0 04/15/2019 1,150,000 1,219,256
Sri Lanka Government International Bond, 6.0%, 1/14/19 (144A) 6.0 01/14/2019 750,000 793,375
Salix Pharmaceuticals, Ltd., 6.0%, 1/15/21 (144A) 6.0 01/15/2021 1,855,000 2,004,637
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 5.918 09/25/2036 189,000 173,016
Massachusetts Water Resources Authority, 5.0%, 8/1/37 5.0 08/01/2037 1,000,000 1,093,727
ONEOK, Inc., 6.875%, 9/30/28 6.875 09/30/2028 1,450,000 1,664,674
Banc of America Mortgage Trust 2004-2, 5.5%, 3/25/34 5.5 03/25/2034 212,565 85,799
Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A) 4.2969 05/23/2016 1,000,000 1,019,397
CommScope, Inc., Tranche 3 Term Loan, 1/21/17 2.7331 01/21/2017 105,795 106,192
TIBCO Software, Inc., 2.25%, 5/1/32 2.25 05/01/2032 1,245,000 1,266,009
County of York South Carolina, 5.7%, 1/1/24 5.7 01/01/2024 100,000 100,968
Lamar Media Corp., 5.375%, 1/15/24 5.375 01/15/2024 600,000 624,069
Cemex SAB de CV, 5.875%, 3/25/19 (144A) 5.875 03/25/2019 550,000 580,502
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 500,000 553,750
Nara Cable Funding II, Ltd., 8.5%, 3/1/20 (144A) 8.5 03/01/2020 100,000 169,533
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 6.0 07/25/2034 500,000 109,131
AXA SA, 8.6%, 12/15/30 8.6 12/15/2030 250,000 327,039
Meritor, Inc., 6.75%, 6/15/21 6.75 06/15/2021 400,000 430,700
Aviv Healthcare Properties LP, 7.75%, 2/15/19 7.75 02/15/2019 250,000 270,861
Foundation Re III, Ltd., Floating Rate Note, 2/25/15 (Cat Bond) (144A) 5.0253 02/25/2015 350,000 358,379
Shelf Drilling Holdings, Ltd., 8.625%, 11/1/18 (144A) 8.625 11/01/2018 1,215,000 1,344,094
ML-CFC Commercial Mortgage Trust 2006-3, Floating Rate Note, 7/12/46 5.485 07/12/2046 1,400,000 1,389,923
AMG Capital Trust II, 5.15%, 10/15/37 5.15 10/15/2037 18,000 1,101,938
INEOS Group Holdings SA, 5.875%, 2/15/19 5.875 02/15/2019 600,000 619,273
Marfrig Holding Europe BV, 9.875%, 7/24/17 (144A) 9.875 07/24/2017 200,000 206,030
Physio-Control International, Inc., 9.875%, 1/15/19 (144A) 9.875 01/15/2019 142,000 160,832
MASTR Adjustable Rate Mortgages Trust 2003-6, Floating Rate Note, 12/25/33 2.3962 12/25/2033 30,000,000 601,889
ServiceNow, Inc., 0.0%, 11/1/18 (144A) 0.0 11/01/2018 980,000 1,130,063
COMM 2007-FL14 Mortgage Trust, Floating Rate Note, 6/15/22 (144A) 0.3345 06/15/2022 160,000 35,804
Sappi Papier Holding GmbH, 6.625%, 4/15/21 (144A) 6.625 04/15/2021 400,000 418,011
Gannett Co, Inc., 6.375%, 10/15/23 (144A) 6.375 10/15/2023 1,620,000 1,751,558
Elior Finance & Co SCA, 6.5%, 5/1/20 (144A) 6.5 05/01/2020 900,000 1,394,692
Confie seguros Holding II Co., 11/9/18 5.75 11/09/2018 293,892 294,259
Belden, Inc., 5.5%, 4/15/23 (144A) 5.5 04/15/2023 300,000 428,058
Chesapeake Energy Corp., 12/2/17 5.75 12/02/2017 400,000 409,250
Wells Fargo Commercial Mortgage Trust, 4.0%, 11/15/43 (144A) 4.0 11/15/2043 100,000 85,259
Credit Suisse First Boston Mortgage Securities Corp., 4.877%, 4/15/37 4.877 04/15/2037 1,500,000 1,522,278
RegionalCare Hospital Partners, Inc., 11/4/18 7.0 11/04/2018 347,505 341,423
Agrokor dd, 8.875%, 2/1/20 (144A) 8.875 02/01/2020 75,000 81,742
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 1,190,000 1,315,942
Tradewynd Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 6.25 01/08/2015 250,000 252,532
CCO Holdings LLC, 6.5%, 4/30/21 6.5 04/30/2021 100,000 109,060
Tenet Healthcare Corp., 4.375%, 10/1/21 4.375 10/01/2021 980,000 974,896
CST Brands, Inc., 5.0%, 5/1/23 5.0 05/01/2023 1,325,000 1,310,646
RCMC LLC, 5.62346%, 11/15/44 (144A) 5.6235 11/15/2044 250,000 221,751
Alkermes, Inc., 9/25/19 3.5 09/25/2019 694,981 696,719
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 7.75 10/15/2021 1,050,000 1,150,122
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9.75 05/15/2017 600,000 575,225
AXIS Equipment Finance Receivables II LLC, 6.41%, 10/22/18 6.41 10/22/2018 250,000 251,064
Livingston International, Inc., 4/18/19 5.0 04/18/2019 721,375 725,884
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 11.5 12/15/2019 265,000 304,559
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 5.8159 12/06/2016 250,000 264,569
West Corp., Term B-10 Loan, 6/30/18 3.25 06/30/2018 416,842 415,865
Morgan Stanley, Floating Rate Note, 12/31/49 (Perpetual) 7.125   18,000 481,320
TransDigm, Inc., 2/28/20 3.75 02/28/2020 298,492 300,192
Fannie Mae, 0.5%, 12/15/33 (144A) 0.5 12/15/2033 1,000,000 1,079,167
Blackstone Holdings Finance Co LLC, 4.75%, 2/15/23 (144A) 4.75 02/15/2023 250,000 267,216
Emulex Corp., 1.75%, 11/15/18 (144A) 1.75 11/15/2018 765,000 777,915
Dynegy, Inc., 4/23/20 4.0 04/16/2020 306,154 308,040
Fifth Third Bancorp, Floating Rate Note, 12/31/49 (Perpetual) 6.625 12/31/2049 37,400 992,222
MHP SA, 8.25%, 4/2/20 (144A) 8.25 04/02/2020 500,000 427,173
Magnesita Finance, Ltd., 8.625%, 12/31/49 (Perpetual) (144A) 8.625 04/29/2049 450,000 429,038
NRG Energy, Inc., 8.25%, 9/1/20 8.25 09/01/2020 200,000 230,250
Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A) 8.75 12/15/2019 275,000 310,330
BBVA Banco Continental SA, 5.0%, 8/26/22 (144A) 5.0 08/26/2022 250,000 253,299
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 5.214 02/11/2041 100,000 101,794
Fannie Mae, 4.5%, 9/1/40 4.5 09/01/2040 2,868,485 1,064,612
ON Semiconductor Corp., 2.625%, 12/15/26 2.625 12/15/2026 1,000,000 1,223,667
Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A) 7.625 12/05/2019 450,000 153,905
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 800,000 216,718
Swift Energy Co., 7.875%, 3/1/22 7.875 03/01/2022 1,950,000 2,075,531
Swift Transportation Co LLC, 12/21/17 4.0 12/21/2017 255,490 258,108
MMM Holdings, Inc., 12/12/17 9.75 10/09/2017 35,884 36,266
Range Resources Corp., 5.0%, 3/15/23 5.0 03/15/2023 400,000 416,222
Progressive Waste Solutions, Ltd., 10/24/19 3.0 10/31/2019 447,739 448,298
Ares Capital Corp., 4.375%, 1/15/19 (144A) 4.375 01/15/2019 1,170,000 1,253,322
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,025,000 1,105,776
NRG Energy, Inc., 7.625%, 1/15/18 7.625 01/15/2018 900,000 1,025,769
GS Mortgage Securities Trust 2006-GG6, Floating Rate Note, 4/10/38 5.5921 04/10/2038 1,475,000 1,512,745
Cincinnati Bell, Inc., 8.375%, 10/15/20 8.375 10/15/2020 1,105,000 1,239,411
BioScrip, Inc., 8.875%, 2/15/21 (144A) 8.875 02/15/2021 1,050,000 1,081,427
Prudential Financial, Inc., Floating Rate Note, 9/15/42 5.875 09/15/2042 400,000 426,836
Vantage Pipeline US LP, 8/22/20 4.0 08/19/2020 284,109 286,240
Mill US Acquisition LLC, 7/3/20 4.75 05/23/2020 871,125 878,476
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 11.5 02/15/2018 100,000 61,669
BioMarin Pharmaceutical, Inc., 1.5%, 10/15/20 1.5 10/15/2020 200,000 241,133
Hawaiian Airlines 2013-1 Class A Pass Through Certificates, 3.9%, 1/15/26 3.9 01/15/2026 105,000 101,061
CNL Commercial Mortgage Loan Trust 2003-1, Floating Rate Note, 5/15/31 (144A) 0.6545 05/15/2031 5,908,000 612,707
Armor Re, Ltd., Floating Rate Note, 5/14/14 (Cat Bond) (144A) 4.25 05/14/2014 721,000 723,214
Charter Communications Operating LLC, 12/31/20 3.0 01/01/2021 497,500 495,764
Structured Asset Securities Corp Trust 2005-15, 6.0%, 8/25/35 6.0 08/25/2035 50,000 16,992
Navios Maritime Partners LP, 6/27/18 5.25 06/27/2018 399,000 406,648
Cubist Pharmaceuticals, Inc., 1.125%, 9/1/18 (144A) 1.125 09/01/2018 500,000 616,109
Tomkins LLC, 9/29/16 3.75 09/29/2016 472,541 475,258
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 6.55 04/25/2037 250,000 246,835
NorthStar 2013-1, Floating Rate Note, 8/25/29 (144A) 5.1555 08/25/2029 1,500,000 1,497,033
Armacell International GmbH, 7/2/20 5.5 06/27/2020 500,000 501,875
KKR Group Finance Co II LLC, 5.5%, 2/1/43 (144A) 5.5 02/01/2043 1,150,000 1,184,251
Alliant Holdings I, Inc., 12/20/19 4.25 12/07/2019 500,000 502,578
Quebecor Media, Inc., 5.75%, 1/15/23 5.75 01/15/2023 1,325,000 1,357,647
Kindred Healthcare, Inc., 8.25%, 6/1/19 8.25 06/01/2019 400,000 439,250
Scientific Games International, Inc., 9.25%, 6/15/19 9.25 06/15/2019 100,000 108,203
Sirius International Group, Ltd., Floating Rate Note, 12/31/49 (Perpetual) (144A) 7.506 05/29/2049 110,000 116,976
Ziggo Bv 1st Lien Tl-B1 L + 2.75% 15jan22   01/15/2022 554,681 552,861
US Finco LLC, 5/30/20 4.0 05/29/2020 497,500 499,366
American Home Mortgage Investment Trust 2005-1, Floating Rate Note, 6/25/45 2.335 06/25/2045 500,000 53,786
COMM 2006-C8 Mortgage Trust, 5.377%, 12/10/46 5.377 12/10/2046 2,000,000 1,987,954
Seagate HDD Cayman, 4.75%, 6/1/23 (144A) 4.75 06/01/2023 885,000 873,384
The PNC Financial Services Group, Inc., Floating Rate Note, 2/21/49 (Perpetual) 4.4536 05/29/2049 1,200,000 1,202,388
Seadrill Operating LP, Initial Term Loan, 2/14/21   02/14/2021 850,000 854,857
Cenveo Corp., 2/13/17 6.25 04/04/2020 121,889 123,565
Astoria Financial Corp., 5.0%, 6/19/17 5.0 06/19/2017 100,000 109,439
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 6.125 09/15/2023 975,000 1,084,748
CHS, 7.125%, 7/15/20 7.125 07/15/2020 165,000 181,765
The Goldman Sachs Group, Inc., 6.75%, 10/1/37 6.75 10/01/2037 225,000 266,040
Fly Leasing, Ltd., 6.75%, 12/15/20 6.75 12/15/2020 590,000 618,025
Basic Energy Services, Inc., 7.75%, 10/15/22 7.75 10/15/2022 280,000 307,098
Atlantic Power LP, Term Loan B, 2/20/21   02/20/2021 1,200,000 1,208,250
Sequa Corp., 6/19/17 5.25 05/29/2017 742,500 732,755
RAMP Series 2006-RZ3 Trust, Floating Rate Note, 8/25/36 0.3155 08/25/2036 350,000 106,867
IASIS Healthcare LLC, 5/3/18 4.5 05/03/2018 194,535 195,689
Halcon Resources Corp., 8.875%, 5/15/21 8.875 05/15/2021 570,000 594,870
Ziggo Bv 1st Lien Tl-B3 L + 2.75% 15jan22   01/15/2022 587,872 585,944
Petroleos Mexicanos, 3.5%, 7/18/18 3.5 07/18/2018 900,000 937,513
Booz Allen Hamilton, Inc., 7/31/19 3.75 07/31/2019 149,244 150,131
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 8.805 06/06/2015 600,000 648,276
CHS, 6.875%, 2/1/22 (144A) 6.875 02/01/2022 340,000 363,883
Hearthside Food Solutions LLC, 6/7/18 6.5001 05/07/2018 246,257 247,488
HHI Holdings LLC, 10/5/18 5.0 10/05/2018 397,239 401,046
Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A) 6.5 02/24/2021 525,000 590,501
Intelsat Jackson Holdings SA, 6/30/19 3.75 06/30/2019 289,851 292,085
US Airways, Inc., Tranche B-2 Term Loan (Consenting), 11/23/16   11/23/2016 531,250 533,109
Motel 6 Trust, 4.2743%, 10/5/25 (144A) 4.2743 10/05/2025 1,327,000 1,310,146
PVR Partners LP, 6.5%, 5/15/21 6.5 05/15/2021 425,000 460,759
The PNC Financial Services Group, Inc., Floating Rate Note, 12/31/49 (Perpetual) 6.75 07/29/2049 1,150,000 1,237,975
LB-UBS Commercial Mortgage Trust 2005-C2, Floating Rate Note, 4/15/40 5.224 04/15/2040 1,000,000 1,015,714
CHS, 2021 Term D Loan, 1/27/21   01/27/2021 348,103 351,666
Bank of America Corp., 7.75%, 5/14/38 7.75 05/14/2038 200,000 272,079
Forest City Enterprises, Inc., 3.625%, 8/15/20 (144A) 3.625 08/15/2020 1,265,000 1,328,707
Allied Security Holdings LLC, Delayed Draw Term Loan (First Lien), 2/12/21 0.5 02/12/2021 480,000 480,300
Envision Healthcare Corp., 5/25/18 4.0 04/05/2018 296,953 298,367
Enel Finance International NV, 5.125%, 10/7/19 (144A) 5.125 10/07/2019 150,000 167,429
Crown Castle 1st Lien Term-B2 L + 2.5% 31jan21 3.25 01/31/2021 658,737 660,137
Johnston Re, Ltd., Floating Rate Note, 5/8/14 (Cat Bond) (144A) 7.66 05/08/2014 250,000 256,503
WFRBS Commercial Mortgage Trust 2011-C4, Floating Rate Note, 6/15/44 (144A) 5.2475 06/15/2044 50,000 52,213
Sedgwick Inc 1st Lien Tl-B L + 2.75% 11feb21 3.75 02/11/2021 510,000 507,928
Mirabela Nickel, Ltd., 3.5%, 3/28/14 (144A) (PIK) 3.5 03/28/2014 45,000 44,794
BM&FBovespa SA, 5.5%, 7/16/20 (144A) 5.5 07/16/2020 900,000 952,313
Foresight Energy LLC, 8/21/20 5.5 08/19/2020 997,500 1,008,722
Roundy's Supermarkets, Inc., 2/13/19 6.0763 01/24/2019 191,379 191,539
KGHM International, Ltd., 7.75%, 6/15/19 (144A) 7.75 06/15/2019 325,000 349,005
Garda World Security Corp., Term B Delayed Draw Loan, 11/8/20 4.0 11/08/2020 52,806 53,038
Diamond Foods, Inc., 7.0%, 3/15/19 (144A) 7.0 03/15/2019 430,000 444,441
Verint Systems, Inc., Tranche B Incremental Term Loan, 9/6/19   09/06/2019 500,000 501,688
MULTI PACKAGING SOLUTIONS INC, Term Loan B, 9/30/20