Pioneer Investments: Pioneer High Yield Fund


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Pioneer High Yield Fund

Monthly Portfolio Holdings as of 12/31/2015

Security Name Coupon Maturity Date Par / Shares Market Value($)
Kennedy-Wilson, Inc., 5.875%, 4/1/24 5.875 04/01/2024 1,480,000 1,449,938
Wells Fargo & Co., 7.5% (Perpetual) 7.5 12/31/2049 2,000 2,325,970
Sealy Corp., 8.0%, 7/15/16 (PIK) 8.0 07/15/2016 143,000 12,627,872
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 6.75 10/01/2020 5,580,000 3,609,563
Hexion, Inc., 8.875%, 2/1/18 8.875 02/01/2018 1,567,000 1,162,681
First Data Corp., 5.75%, 1/15/24 (144A) 5.75 01/15/2024 5,000,000 4,953,750
Halcon Resources Corp     460,332 580,018
Gulfport Energy Corp., 7.75%, 11/1/20 7.75 11/01/2020 7,615,000 6,913,785
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 8.5 05/15/2018 7,495,000 7,492,085
T-Mobile USA, Inc., 6.633%, 4/28/21 6.633 04/28/2021 1,635,000 1,742,404
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 7.375 02/01/2020 2,250,000 1,464,141
The KEYW Holding Corp., 2.5%, 7/15/19 2.5 07/15/2019 1,150,000 866,413
Cimpress NV, 7.0%, 4/1/22 (144A) 7.0 04/01/2022 3,475,000 3,396,813
Citigroup Commercial Mortgage Trust 2014-GC23 REMICS, Floating Rate Note, 7/12/47 (144A) 3.208 07/12/2047 2,500,000 1,609,015
Emergent BioSolutions, Inc., 2.875%, 1/15/21 2.875 01/15/2021 4,660,000 6,483,840
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 7.25 05/01/2019 1,710,000 1,713,563
Frontier Communications Corp., 8.875%, 9/15/20 (144A) 8.875 09/15/2020 530,000 549,168
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 0.0 12/01/2019 8,310 266,803
Cepheid, 1.25%, 2/1/21 1.25 02/01/2021 3,380,000 3,023,692
Windstream Holdings, Inc.     87,633 564,357
Mj Acquisition Corp 2nd Lien L + 8% 08apr23 8.6067 04/08/2023 3,430,000 3,363,458
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 4.0 03/01/2020 1,398,991 1,372,469
Regal Entertainment Group, 5.75%, 2/1/25 5.75 02/01/2025 2,895,000 2,863,034
Comstock Resources, Inc., 9.5%, 6/15/20 9.5 06/15/2020 668,000 118,050
Shea Homes LP, 5.875%, 4/1/23 (144A) 5.875 04/01/2023 900,000 935,719
Nationstar Mortgage LLC, 6.5%, 8/1/18 6.5 08/01/2018 1,820,000 1,819,242
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 9.875 08/15/2019 4,565,000 4,769,537
United States Treasury Floating Rate Note, Floating Rate Note, 1/31/16 0.3052 01/31/2016 5,000,000 5,002,196
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3.5 08/23/2019 7,349 7,320
Kane Ilw Zero% 02feb16 0.0 02/02/2016 1,500,000 1,500,000
CCO Holdings LLC, 6.5%, 4/30/21 6.5 04/30/2021 9,250,000 9,721,878
Universal Hospital Services, Inc., 7.625%, 8/15/20 7.625 08/15/2020 1,265,000 1,223,958
Tronox Finance LLC, 7.5%, 3/15/22 (144A) 7.5 03/15/2022 4,560,000 2,745,500
Numericable-SFR SAS, 6.0%, 5/15/22 (144A) 6.0 05/15/2022 1,575,000 1,563,450
NANA Development Corp., 9.5%, 3/15/19 (144A) 9.5 03/15/2019 1,800,000 1,634,350
Whiting Petroleum Corp., 1.25%, 4/1/20 (144A) 1.25 04/01/2020 3,120,000 2,131,350
Nuan 1% 15dec35 144a 1.0 12/15/2035 817,000 786,397
Alamo Re, Ltd., Floating Rate Note, 6/7/18 (Cat Bond) (144A) 6.1238 06/07/2018 500,000 513,443
Tesoro Corp., 5.375%, 10/1/22 5.375 10/01/2022 4,695,000 4,769,827
Hilcorp Energy I LP, 5.75%, 10/1/25 (144A) 5.75 10/01/2025 2,470,000 2,184,406
Kane Zero% 15jan16 0.0 01/15/2016 506,000 515,462
Ally Financial, Inc., 5.75%, 11/20/25 5.75 11/20/2025 2,905,000 2,960,336
Pangaea Zero% 01jul18 0.0 07/01/2018 5,120,000 92,160
14112z Zero% 01feb19 0.0 02/01/2019 4,500,000 5,233,950
Liberty Tire Recycling Llc     73,714 737
SEACOR Holdings, Inc., 3.0%, 11/15/28 3.0 11/15/2028 2,170,000 1,728,043
KB Home, 7.0%, 12/15/21 7.0 12/15/2021 8,375,000 8,285,899
Cardtronics, Inc., 1.0%, 12/1/20 1.0 12/01/2020 6,345,000 5,894,241
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 6.5 07/01/2036 457,562 9,806
EMC Corp./MA     103,800 2,665,584
JP Morgan Chase Commercial Mortgage Securities Trust 2013-C13 REMICS, Floating Rate Note, 1/18/46 (1 4.1887 01/18/2046 1,350,000 1,199,755
CNO Financial Group, Inc., 4.5%, 5/30/20 4.5 05/30/2020 2,310,000 2,365,151
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 5.25 02/01/2021 3,780,000 3,257,888
Level 3 Financing, Inc., 5.375%, 1/15/24 (144A) 5.375 01/15/2024 1,880,000 1,902,873
Resolute Forest Products, Inc., 5.875%, 5/15/23 5.875 05/15/2023 2,845,000 2,091,095
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 6.75 05/01/2019 4,250,000 3,936,563
Voya Financial, Inc., Floating Rate Note, 5/15/53 5.65 05/15/2053 4,200,000 4,167,322
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 10.0 08/15/2021 4,460,000 4,026,389
LyondellBasell Industries NV     51,171 4,446,760
AECOM, 5.875%, 10/15/24 5.875 10/15/2024 1,390,000 1,435,040
Citrix Systems, Inc., 0.5%, 4/15/19 0.5 04/15/2019 2,335,000 2,541,777
CHS, 8.0%, 11/15/19 8.0 11/15/2019 11,400,000 11,602,033
United Continental Holdings, Inc.     71,207 4,080,161
United States Treasury Floating Rate Note, Floating Rate Note, 4/30/16 0.3292 04/30/2016 5,000,000 5,003,344
General Cable Corp., 4.5%, 11/15/29 (Step) 4.5 11/15/2029 10,874,000 6,729,647
Zero% 31aug16 0.0 08/31/2016 1,000,000 1,088,800
Edenre Zero% 23apr19 144a 0.0 04/23/2019 1,100,000 1,100,000
CEVA GROUP Plc, 0.0%, 12/31/14 0.0 06/30/2015 4,940 2,223,023
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 4.939 07/10/2039 2,000,000 1,932,321
Windstream Services LLC, 7.5%, 6/1/22 7.5 06/01/2022 7,030,000 5,439,463
Quicken Loans, Inc., 5.75%, 5/1/25 (144A) 5.75 05/01/2025 3,740,000 3,598,192
KB Home, 1.375%, 2/1/19 1.375 02/01/2019 6,160,000 5,544,642
AAF Holdings LLC, 12.375%, 7/1/19 (144A) (PIK) 12.375 07/01/2019 3,252,860 3,269,124
Antero Resources Corp., 6.0%, 12/1/20 6.0 12/01/2020 2,360,000 1,982,400
Hexion, Inc., 9.0%, 11/15/20 9.0 11/15/2020 2,445,000 963,330
Citigroup, Inc., Floating Rate Note (Perpetual) 7.125 12/31/2049 279,760 7,836,078
Kindred Healthcare, Inc., 6.375%, 4/15/22 6.375 04/15/2022 7,975,000 6,726,580
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 5.25 11/25/2032 3,319,000 501,637
Altice US Finance I Corp., 5.375%, 7/15/23 (144A) 5.375 07/15/2023 1,375,000 1,419,291
Royal Bank of Scotland Group Plc, Floating Rate Note (Perpetual) 8.0 12/31/2049 6,000,000 6,466,333
Banc of America Commercial Mortgage Trust 2007-5, Floating Rate Note, 2/10/51 5.9736 02/10/2051 2,000,000 2,007,019
WPX Energy, Inc., 7.5%, 8/1/20 7.5 08/01/2020 1,850,000 1,559,781
Monitronics International, Inc., Term B Loan (2013), 3/23/18 4.25 03/23/2018 2,673,469 2,599,949
Cigna Corp.     32,251 4,719,289
Commercial Vehicle Group, Inc.     482,433 1,331,515
Flt% 15jun16 0.0 06/15/2016 500,000 505,150
General Cable Corp.     23,747 318,922
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 3.75 08/20/2025 700,000 224,013
Chk 8% 15dec22 144a 8.0 12/15/2022 3,756,000 1,847,117
Sanchez Energy Corp., 6.125%, 1/15/23 6.125 01/15/2023 800,000 454,594
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 3.74 11/25/2019 1,000,000 1,000,283
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.9593 05/15/2046 2,750,000 2,646,917
Vanguard Natural Resources LLC, 7.875%, 4/1/20 7.875 04/01/2020 3,200,000 911,000
Sprint Corp., 7.25%, 9/15/21 7.25 09/15/2021 20,345,000 15,788,681
Synchronoss Technologies, Inc., 0.75%, 8/15/19 0.75 08/15/2019 1,665,000 1,678,043
Morgan Stanley, Floating Rate Note (Perpetual) 6.375 12/31/2049 2,817 74,763
Chaparral Energy, Inc., 8.25%, 9/1/21 8.25 09/01/2021 2,945,000 787,788
syncreon Group BV, 8.625%, 11/1/21 (144A) 8.625 11/01/2021 3,500,000 2,797,813
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 0.0 12/01/2018 12,321 53,398
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 8.25 03/15/2018 2,855,000 1,969,698
Advanced Micro Devices, Inc., 7.0%, 7/1/24 7.0 07/01/2024 820,000 561,700
Penn Virginia Corp., 8.5%, 5/1/20 8.5 05/01/2020 4,480,000 769,067
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 7.0 12/01/2018 1,800,000 1,837,500
Asbury Automotive Group, Inc., 6.0%, 12/15/24 (144A) 6.0 12/15/2024 2,900,000 3,001,983
Carriage Services, Inc., 2.75%, 3/15/21 2.75 03/15/2021 2,195,000 2,603,758
Outerwall, Inc., 5.875%, 6/15/21 5.875 06/15/2021 4,010,000 3,298,671
SandRidge Energy, Inc.     62,696 12,539
The Medicines Co., 2.5%, 1/15/22 (144A) 2.5 01/15/2022 2,455,000 3,140,013
United Rentals North America, Inc., 5.75%, 11/15/24 5.75 11/15/2024 2,000,000 1,994,694
Frontier Communications Corp., 8.5%, 4/15/20 8.5 04/15/2020 9,401,000 9,593,198
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 6.875 02/15/2019 2,950,000 2,495,618
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 0.0 12/31/2049 33,500 83,750
Orbital ATK, Inc.     14,495 1,294,983
Dycom Industries, Inc., 0.75%, 9/15/21 (144A) 0.75 09/15/2021 3,150,000 3,101,831
Ferrellgas LP, 6.5%, 5/1/21 6.5 05/01/2021 1,850,000 1,592,542
Springs Industries, Inc., 6.25%, 6/1/21 6.25 06/01/2021 2,920,000 2,906,008
Shutterfly, Inc., 0.25%, 5/15/18 0.25 05/15/2018 4,455,000 4,294,929
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,514,150 1,649,969
NeuStar, Inc., 4.5%, 1/15/23 4.5 01/15/2023 3,688,000 3,030,614
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5.0 03/15/2022 5,795,000 5,880,315
VOLT XXV LLC, 4.5%, 6/26/45 (Step) (144A) 4.5 06/26/2045 1,000,000 965,092
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 7.0 05/15/2018 2,000,000 2,012,889
DPx Holdings BV, 7.5%, 2/1/22 (144A) 7.5 02/01/2022 5,610,000 5,645,063
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 6.75 12/01/2021 1,775,000 1,820,484
Sector Zero% 01dec20 144a 0.0 12/01/2020 1,550,000 1,557,285
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 5.58 06/25/2058 400,000 402,630
Ironwood Pharmaceuticals, Inc., 2.25%, 6/15/22 (144A) 2.25 06/15/2022 2,520,000 2,349,270
Marathon Oil Corp.     137,800 1,734,902
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 7.5 09/15/2020 1,595,000 1,428,854
WebMD Health Corp., 1.5%, 12/1/20 1.5 12/01/2020 4,645,000 5,193,691
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 6.75 04/30/2018 1,963,091 1,818,313
Ascent Capital Group, Inc., 4.0%, 7/15/20 4.0 07/15/2020 2,710,000 1,806,403
Brocade Communications Systems, Inc., 1.375%, 1/1/20 (144A) 1.375 01/01/2020 2,595,000 2,509,041
Quebecor Media, Inc., 5.75%, 1/15/23 5.75 01/15/2023 2,050,000 2,070,614
Alere, Inc., 3.0%, 5/15/16 3.0 05/15/2016 2,500,000 2,581,458
CalAtlantic Group, Inc., 6.25%, 12/15/21 6.25 12/15/2021 6,975,000 7,465,188
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 6.375 04/01/2021 2,560,000 2,652,000
Dollar Tree, Inc., 5.75%, 3/1/23 (144A) 5.75 03/01/2023 2,910,000 3,067,625
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 11.0 03/31/2021 1,550,257 1,056,586
Equinix, Inc., 5.375%, 4/1/23 5.375 04/01/2023 5,465,000 5,647,736
FireEye, Inc., 1.625%, 6/1/35 (144A) 1.625 06/01/2035 595,000 477,921
Hkus 12% 15feb22 144a 12.0 02/15/2022 2,185,000 1,438,458
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,261,500 1,500,050
U.S. Treasury Floating Rate Note, 0.28511691%, 7/31/16 0.3302 07/31/2016 5,000,000 5,003,392
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 8.25 03/31/2020 3,375,000 2,643,820
Legacy Reserves LP, 6.625%, 12/1/21 6.625 12/01/2021 4,975,000 1,072,216
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 6.5 12/15/2020 1,525,000 1,474,124
Morgan Stanley, Floating Rate Note (Perpetual) 5.55 12/31/2049 4,325,000 4,435,684
Offshore Group Investment, Ltd., 3/28/19 7.0 03/28/2019 0 0
James River Coal Co., 7.875%, 4/1/19 7.875 04/01/2019 4,170,000 775,359
Ally Financial, Inc., 4.625%, 5/19/22 4.625 05/19/2022 1,250,000 1,262,995
Alpha Natural Resources, Inc., 3.75%, 12/15/17 3.75 12/15/2017 4,705,000 101,942
Blue Cube Spinco, Inc., 10.0%, 10/15/25 (144A) 10.0 10/15/2025 580,000 652,500
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 6.0 06/15/2021 2,350,000 2,373,892
Wells Fargo & Co., Floating Rate Note (Perpetual) 5.875 12/31/2049 3,675,000 3,877,533
Kane Sac Zero% 15jun16 0.0 06/15/2016 1,200,000 1,199,520
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 6.0 12/15/2022 7,600,000 7,468,267
MedAssets, Inc., 8.0%, 11/15/18 8.0 11/15/2018 1,400,000 1,438,811
Ferrellgas LP, 6.75%, 1/15/22 6.75 01/15/2022 3,585,000 3,131,946
Theravance, Inc., 2.125%, 1/15/23 2.125 01/15/2023 7,215,000 5,468,419
BioScrip, Inc., Initial Term B Loan, 7/31/20 6.5 07/31/2020 2,053,542 1,881,558
WCA Waste Corp., Term Loan, 3/23/18 4.0 03/23/2018 611,188 605,076
First Data Corp., 7.0%, 12/1/23 (144A) 7.0 12/01/2023 1,830,000 1,845,301
Bios 8.5% 31dec49 Perpetual 8.5 12/31/2049 742 56,120
Targa Resources Partners LP, 4.25%, 11/15/23 4.25 11/15/2023 2,900,000 2,248,749
WESCO Distribution, Inc., 5.375%, 12/15/21 5.375 12/15/2021 2,695,000 2,593,638
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 8.625 06/15/2019 3,975,357 3,933,430
Northern Oil and Gas, Inc., 8.0%, 6/1/20 8.0 06/01/2020 1,005,000 675,025
Acgl Zero% 01jul16 0.0 07/01/2016 1,500,000 1,674,450
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 6.125 09/15/2023 2,410,000 2,598,064
AES Corp. Virginia, 5.5%, 3/15/24 5.5 03/15/2024 1,650,000 1,499,346
Windstream Services LLC, 7.75%, 10/15/20 7.75 10/15/2020 3,460,000 2,971,659
Virgin Media 1st Lien Tl-F L + 2.75% 30jun23 3.5 06/30/2023 5,100,408 5,000,527
TMX Finance LLC, 8.5%, 9/15/18 (144A) 8.5 09/15/2018 3,265,000 2,514,141
Advanced Micro Devices, Inc., 6.75%, 3/1/19 6.75 03/01/2019 640,000 478,400
CenturyLink, Inc., 5.8%, 3/15/22 5.8 03/15/2022 3,625,000 3,384,219
CSMC Trust 2015-SAND, Floating Rate Note, 8/15/30 (144A) 5.0305 08/15/2030 3,000,000 3,007,864
T-Mobile USA, Inc., 6.542%, 4/28/20 6.542 04/28/2020 4,300,000 4,602,305
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 9.25 06/01/2021 2,190,000 268,731
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 6.5 04/15/2021 6,525,000 5,766,288
EP Energy LLC, 9.375%, 5/1/20 9.375 05/01/2020 4,645,000 3,033,766
Pilgrim's Pride Corp., 5.75%, 3/15/25 (144A) 5.75 03/15/2025 2,425,000 2,399,369
Charter Communications Operating L 1st Lien Bridge L + 6.625% 26may16   05/26/2016 5,725,000 5,725,000
Halcon Resources Corp., 0.0% (Perpetual) 0.0 12/31/2049 715 29,673
Constellis Holdings LLC, 9.75%, 5/15/20 (144A) 9.75 05/15/2020 3,475,000 2,892,793
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 6.75 04/01/2020 3,360,000 3,517,500
Crown Cork & Seal Co, Inc., 7.375%, 12/15/26 7.375 12/15/2026 13,120,000 14,147,004
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 8.5 10/15/2022 4,290,000 4,141,757
Lantheus Medical Imaging, Inc., Initial Term Loan, 6/25/22 7.0 06/25/2022 7,422,700 6,828,884
Twitter, Inc., 0.25%, 9/15/19 0.25 09/15/2019 2,055,000 1,746,978
Blue Cube Spinco, Inc., 9.75%, 10/15/23 (144A) 9.75 10/15/2023 580,000 639,813
Micron Technology, Inc., 5.875%, 2/15/22 5.875 02/15/2022 1,825,000 1,815,317
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 9.75 12/12/2017 524,682 345,635
T-Mobile USA, Inc., 6.5%, 1/15/26 6.5 01/15/2026 1,210,000 1,233,717
GMAC Capital Trust I, Floating Rate Note, 2/15/40 8.125 02/15/2040 358,975 9,103,606
Cme: (Cdx.Na.Hy.25.V1) Usd 20dec20 Z91vrer63 5.0 12/20/2020 6,040,000 69,685
Bear Stearns Commercial Mortgage Securities Trust 2007-PWR16, Floating Rate Note, 6/11/40 (144A) 5.7215 06/11/2040 1,150,000 1,151,219
Altrl Zero% 30jun16 0.0 06/30/2016 4,064,365 284,506
Endologix, Inc., 3.25%, 11/1/20 3.25 11/01/2020 1,390,000 1,514,685
Kennametal, Inc.     131,756 2,529,715
Cobalt International Energy, Inc., 2.625%, 12/1/19 2.625 12/01/2019 6,440,000 3,624,513
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 7.25 01/15/2018 3,100,000 3,203,635
Ally Financial, Inc., 4.625%, 3/30/25 4.625 03/30/2025 2,000,000 1,998,382
Kane Zero% 19feb16 0.0 02/19/2016 4,500,000 5,235,750
Kindred Healthcare, Inc., 7.5%, 12/1/17 7.5 12/01/2017 1,725 1,279,950
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 4.4975 07/18/2019 417,758 419,847
Thermo Fisher Scientific, Inc.     48,587 6,892,066
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 6.657 08/15/2043 3,350,000 3,449,223
Neptune Finco Corp., 6.625%, 10/15/25 (144A) 6.625 10/15/2025 1,670,000 1,762,001
Ascent Resources - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3.5 03/01/2021 3,423,887 74,184
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 7.0 11/15/2020 4,300,000 752,331
Entegris, Inc., 6.0%, 4/1/22 (144A) 6.0 04/01/2022 4,250,000 4,366,875
Bank of America Corp., Floating Rate Note, 10/23/49 6.5 10/23/2049 475,000 506,363
Talen Energy Supply LLC, 4.625%, 7/15/19 (144A) 4.625 07/15/2019 7,360,000 5,676,962
Rent-A-Center, Inc., 6.625%, 11/15/20 6.625 11/15/2020 2,590,000 2,216,950
The GEO Group, Inc., 5.875%, 10/15/24 5.875 10/15/2024 3,695,000 3,629,978
Axalta Coating Systems US Holdings, Inc., Refinanced Term B Loan, 2/1/20 3.75 02/01/2020 1,408,567 1,399,260
Xerium Technologies, Inc., 8.875%, 6/15/18 8.875 06/15/2018 945,000 929,946
Cengage Learning Holdings II, Inc.     13,966 328,271
Cme: (Cdx.Na.Hy.23.V4) Usd 20dec19 Z91mw60e6 5.0 12/20/2019 27,629,015 1,484,409
Memorial Production Partners LP, 7.625%, 5/1/21 7.625 05/01/2021 4,480,000 1,400,933
NuVasive, Inc., 2.75%, 7/1/17 2.75 07/01/2017 1,466,000 2,024,096
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 4.25 06/03/2019 1,156,815 1,104,758
Starbucks Corp.     58,543 3,514,336
HCA, Inc., 5.375%, 2/1/25 5.375 02/01/2025 13,850,000 13,987,057
CalAtlantic Group, Inc., 5.375%, 10/1/22 5.375 10/01/2022 2,540,000 2,586,831
Global Partners LP, 7.0%, 6/15/23 7.0 06/15/2023 3,220,000 2,650,418
United States Treasury Floating Rate Note, Floating Rate Note, 10/31/16 0.3132 10/31/2016 5,000,000 5,001,271
BioScrip, Inc.     255,259 446,703
WellCare Health Plans, Inc., 5.75%, 11/15/20 5.75 11/15/2020 6,965,000 7,225,123
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 5.9593 05/15/2046 1,200,000 1,102,961
Jazz Investments I, Ltd., 1.875%, 8/15/21 1.875 08/15/2021 2,050,000 2,159,333
HealthSouth Corp., 5.75%, 9/15/25 (144A) 5.75 09/15/2025 2,520,000 2,385,863
Kane Zero% 29apr16 0.0 04/29/2016 6,200,000 7,056,220
JPMorgan Chase & Co.     19,287 1,273,521
Crestwood Midstream Partners LP, 6.25%, 4/1/23 (144A) 6.25 04/01/2023 2,200,000 1,568,875
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 5.875 04/15/2023 3,195,000 3,194,689
Vertafore, Inc., Term Loan (2013), 10/3/19 4.25 10/03/2019 668,841 664,063
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 11.5 12/15/2019 1,595,000 1,156,552
Rexel SA, 5.25%, 6/15/20 (144A) 5.25 06/15/2020 5,200,000 5,368,133
Citigroup, Inc., Floating Rate Note (Perpetual) 5.9 12/31/2049 2,375,000 2,386,374
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 6.0 06/15/2025 1,890,000 1,824,165
Forest City Enterprises, Inc.     378,545 8,301,492
TE Connectivity, Ltd.     54,309 3,508,904
Joy Global, Inc.     36,133 455,637
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 8.5 04/03/2018 4,813,691 4,789,622
FireEye, Inc., 1.0%, 6/1/35 (144A) 1.0 06/01/2035 595,000 506,618
Swift Energy Co., 7.875%, 3/1/22 7.875 03/01/2022 5,170,000 549,313
Cinedigm Digital Funding 1 LLC, Term Loan, 2/28/18 3.75 02/28/2018 576,573 575,131
Allergan plc, 5.5%, 3/1/18 5.5 03/01/2018 1,400 1,442,252
Trader Corp., 9.875%, 8/15/18 (144A) 9.875 08/15/2018 1,675,000 1,804,487
Windstream Services LLC, 6.375%, 8/1/23 6.375 08/01/2023 2,975,000 2,221,023
Axiall Corp.     127,734 1,967,104
JPMBB Commercial Mortgage Securities Trust 2014-C25 REMICS, Floating Rate Note, 11/18/47 (144A) 4.0977 11/18/2047 3,000,000 2,479,633
Crestwood Midstream Partners LP, 6.125%, 3/1/22 6.125 03/01/2022 4,810,000 3,441,154
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 7.0 02/01/2021 4,901,000 3,916,716
Jarden Corp., 1.125%, 3/15/34 1.125 03/15/2034 4,500,000 5,535,844
Quintiles Transnational Corp., 4.875%, 5/15/23 (144A) 4.875 05/15/2023 3,055,000 3,089,305
CCOH Safari LLC, 5.75%, 2/15/26 (144A) 5.75 02/15/2026 630,000 635,701
COMM 2014-KYO Mortgage Trust, Floating Rate Note, 6/11/27 (144A) 3.801 06/11/2027 2,650,000 2,628,233
Kilimanjaro Re, Ltd., Floating Rate Note, 12/6/19 (Cat Bond) (144A) 6.75 12/06/2019 1,000,000 1,001,500
Ball Corp., 5.25%, 7/1/25 5.25 07/01/2025 7,100,000 7,452,338
Vers 2015-A Zero% 31dec17 0.0 12/31/2017 4,400,000 5,139,200
Lennar Corp., 4.75%, 11/15/22 4.75 11/15/2022 7,930,000 7,910,726
JP Morgan Chase Commercial Mortgage Securities Trust 2014-INN, Floating Rate Note, 6/15/29 (144A) 3.9305 06/15/2029 4,270,000 4,201,542
Bioscrip Inc Wt Cl A 090925   09/09/2025 2,136 0
NRG Energy, Inc., 7.625%, 1/15/18 7.625 01/15/2018 4,700,000 5,065,001
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 4.25 01/31/2021 2,544,675 2,479,997
Meritage Homes Corp., 7.0%, 4/1/22 7.0 04/01/2022 3,660,000 3,897,900
Nationstar Mortgage LLC, 6.5%, 6/1/22 6.5 06/01/2022 1,515,000 1,318,681
TEGNA, Inc., 6.375%, 10/15/23 6.375 10/15/2023 6,170,000 6,592,388
Mylan NV     47,724 2,580,437
CFCRE 2015-RUM Mortgage Trust, Floating Rate Note, 7/15/30 (144A) 4.9305 07/15/2030 1,475,000 1,473,199
Gibraltar Industries, Inc., 6.25%, 2/1/21 6.25 02/01/2021 1,750,000 1,826,198
CWGS Group LLC, Term Loan, 2/20/20 5.75 02/20/2020 6,655,375 6,613,779
Kinetic Concepts, Inc., Dollar Term E-1 Loan, 5/4/18 4.5 05/04/2018 2,367,663 2,282,822
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 4.0 05/26/2053 1,400,000 730,637
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 6.75 01/31/2021 3,350,000 3,310,847
National Surgical Hospitals Inc 1st Lien Tl-B L + 3.5% 15may22 4.5 05/15/2022 1,348,778 1,311,687
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 5.625 02/01/2021 6,775,000 6,391,789
WebMD Health Corp., 2.5%, 1/31/18 2.5 01/31/2018 5,995,000 6,230,220
KeHE Distributors LLC, 7.625%, 8/15/21 (144A) 7.625 08/15/2021 3,635,000 3,803,321
Immunomedics, Inc., 4.75%, 2/15/20 (144A) 4.75 02/15/2020 1,420,000 1,151,719
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 9.0 04/01/2022 4,030,000 4,302,025
Level 3 Financing Inc 1st Lien Tl-B2 L + 2.75% 31may22   05/31/2022 5,000,000 4,926,040
Fly Leasing, Ltd., 6.375%, 10/15/21 6.375 10/15/2021 5,825,000 5,874,270
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 0.0 03/30/2019 2,152 22,050
Nuance Communications, Inc., 1.5%, 11/1/35 1.5 11/01/2035 1,909,000 2,053,368
NRG Energy, Inc., 6.25%, 5/1/24 6.25 05/01/2024 2,850,000 2,424,258
Archrock Partners LP, 6.0%, 4/1/21 6.0 04/01/2021 1,850,000 1,549,375
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 3,014,550 3,300,028
Aguila 3 SA, 7.875%, 1/31/18 (144A) 7.875 01/31/2018 1,700,000 1,760,403
Post Holdings, Inc., 7.75%, 3/15/24 (144A) 7.75 03/15/2024 750,000 807,099
Tronox Finance LLC, 6.375%, 8/15/20 6.375 08/15/2020 5,195,000 3,251,464
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 5.75 07/10/2017 8,411 8,409
Altrl Zero% 30jun17 0.0 06/30/2017 1,948,129 2,310,871
TI Group Automotive Systems LLC, Initial US Term Loan, 6/25/22 4.5 06/25/2022 1,935,499 1,896,789
Impax Laboratories, Inc., 2.0%, 6/15/22 (144A) 2.0 06/15/2022 3,725,000 3,653,811
Silvre Zero% 18sep18 144a 0.0 09/18/2018 2,700,000 2,700,000
Videotron, Ltd., 5.375%, 6/15/24 (144A) 5.375 06/15/2024 9,050,000 9,116,869
Ford Motor Co.     672,421 9,474,412
Alere, Inc., 3.0% (Perpetual) 3.0 12/31/2049 6,508 1,822,045
Tower Automotive Holdings USA LLC, Initial Term Loan (2014), 4/23/20 4.0 04/23/2020 7,930,434 7,613,217
Iron Mountain, Inc., 5.75%, 8/15/24 5.75 08/15/2024 1,410,000 1,391,278
TMS International Corp., 7.625%, 10/15/21 (144A) 7.625 10/15/2021 2,165,000 1,707,313
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 5.75 04/23/2021 1,975,000 1,540,500
Bank of America Corp., Floating Rate Note, 9/29/49 6.25 09/29/2049 4,125,000 4,218,385
CenturyLink, Inc., 6.45%, 6/15/21 6.45 06/15/2021 3,300,000 3,226,960
MMM Holdings, Inc., MMM Term Loan, 12/12/17 9.75 12/12/2017 721,714 475,429
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A) 5.875 05/15/2023 10,760,000 9,684,075
Scientific Games International, Inc., 10.0%, 12/1/22 10.0 12/01/2022 14,265,000 10,247,025
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 5.0 08/25/2053 2,513,900 2,380,423
Noble Energy, Inc., 5.875%, 6/1/22 5.875 06/01/2022 8,170,000 7,812,120
Liberty Media Corp., 1.375%, 10/15/23 1.375 10/15/2023 4,425,000 4,346,579
Frontier Communications Corp., 8.75%, 4/15/22 8.75 04/15/2022 3,100,000 2,924,764
Constellation Brands, Inc., 3.75%, 5/1/21 3.75 05/01/2021 4,100,000 4,135,875
j2 Global, Inc., 8.0%, 8/1/20 8.0 08/01/2020 6,085,000 6,561,658
NCL Corp, Ltd., 5.25%, 11/15/19 (144A) 5.25 11/15/2019 2,750,000 2,828,618
EPL Oil & Gas, Inc., 8.25%, 2/15/18 8.25 02/15/2018 5,205,000 1,541,548
SandRidge Energy, Inc., 7.0% (Perpetual) 7.0 12/31/2049 33,162 82,905
Penn Virginia Corp., 7.25%, 4/15/19 7.25 04/15/2019 2,860,000 429,874
BioScrip, Inc., 8.875%, 2/15/21 8.875 02/15/2021 3,675,000 3,044,840
TerraForm Power Operating LLC, 5.875%, 2/1/23 (144A) 5.875 02/01/2023 1,265,000 1,077,754
Capital One Financial Corp.     14,940 1,078,369
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 7.125 06/01/2019 2,200,000 2,103,063
Bank of America Corp., Floating Rate Note (Perpetual) 6.1 12/31/2049 3,175,000 3,274,607
Key Energy Services, Inc., 6.75%, 3/1/21 6.75 03/01/2021 1,375,000 376,406
Linn Energy LLC, 12.0%, 12/15/20 (144A) 12.0 12/15/2020 4,997,000 2,566,792
Aetna, Inc.     29,704 3,211,596
Acacn 5% 15mar20 144a 5.0 03/15/2020 1,920,000 1,837,867
Archrock Partners LP, 6.0%, 10/1/22 6.0 10/01/2022 4,500,000 3,735,000
ON Semiconductor Corp., 1.0%, 12/1/20 (144A) 1.0 12/01/2020 4,480,000 4,175,733
Altice Financing SA, 6.625%, 2/15/23 (144A) 6.625 02/15/2023 1,840,000 1,847,475
Bankrate, Inc., 6.125%, 8/15/18 (144A) 6.125 08/15/2018 3,400,000 3,512,672
Sanchez Energy Corp., 7.75%, 6/15/21 7.75 06/15/2021 2,375,000 1,456,931
Zero% 30nov19 0.0 11/30/2019 5,800,000 6,145,680
Capital One Financial Corp., Floating Rate Note (Perpetual) 5.55 12/31/2049 3,875,000 3,873,547
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 0.0 01/07/2016 1,467,400 1,649,945
Kane Zero% 22jan16 0.0 01/22/2016 1,000,000 1,166,500
Kane Zero% 22jan16 0.0 01/22/2016 3,000,000 3,377,100
17079z Zero% 31mar18 0.0 03/31/2018 2,600,000 2,898,480
Alliance One International, Inc., 9.875%, 7/15/21 9.875 07/15/2021 7,560,000 5,900,843
Ardent Legacy Acquisitions Inc 1st Lien Tl-B L + 5.5% 31jul21 6.5 07/31/2021 719,020 715,425
Linn Energy LLC, 7.75%, 2/1/21 7.75 02/01/2021 220,000 36,920
PDL BioPharma, Inc., 4.0%, 2/1/18 4.0 02/01/2018 4,538,000 3,708,870
Kilimanjaro Re, Ltd., Floating Rate Note, 12/6/19 (Cat Bond) (144A) 9.25 12/06/2019 1,250,000 1,254,875
Lennar Corp., 4.5%, 6/15/19 4.5 06/15/2019 4,150,000 4,228,331
Micron Technology, Inc., 5.25%, 8/1/23 (144A) 5.25 08/01/2023 2,355,000 2,165,128
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 7.125 03/15/2023 2,710,000 2,743,819
DR Horton, Inc., 5.75%, 8/15/23 5.75 08/15/2023 4,345,000 4,726,153
Bioscrip Inc Wt Cl B 090925   09/09/2025 2,136 0
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 6.5 07/31/2020 1,232,125 1,128,935
Post Holdings, Inc., 8.0%, 7/15/25 (144A) 8.0 07/15/2025 1,940,000 2,113,738
Regal Entertainment Group, 5.75%, 3/15/22 5.75 03/15/2022 425,000 432,195
Alliant Holdings I LLC, Initial Term Loan, 7/28/22 4.5 07/28/2022 367,837 360,825
Nationstar Mortgage LLC, 6.5%, 7/1/21 6.5 07/01/2021 10,350,000 9,496,125
Endologix, Inc., 2.25%, 12/15/18 2.25 12/15/2018 2,015,000 1,632,906
Linn Energy LLC, 6.25%, 11/1/19 6.25 11/01/2019 2,640,000 463,100
Bio-Rad Laboratories, Inc.     14,198 1,968,695
PDC Energy, Inc., 7.75%, 10/15/22 7.75 10/15/2022 4,860,000 4,745,115
SolarCity Corp., 1.625%, 11/1/19 1.625 11/01/2019 3,725,000 3,018,026
Northern Oil and Gas, Inc., 8.0%, 6/1/20 8.0 06/01/2020 2,240,000 1,504,533
Jonah Energy Llc 2nd Lien Tl L + 6.5% 08may21 7.5 05/08/2021 3,863,910 2,434,263
Scientific Games International, Inc., 6.25%, 9/1/20 6.25 09/01/2020 700,000 343,583
FMG Resources August 2006 Pty, Ltd., Loan, 6/30/19 4.25 06/30/2019 527,303 395,843
Cincinnati Bell, Inc., 8.375%, 10/15/20 8.375 10/15/2020 8,858,000 9,213,919
NCR Corp.     171,011 4,182,929
NCL Corp, Ltd., 4.625%, 11/15/20 (144A) 4.625 11/15/2020 1,480,000 1,458,943
Iap Worldwide Services Inc     53 79,523
Mentor Graphics Corp., 4.0%, 4/1/31 4.0 04/01/2031 5,130,000 5,408,944
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 0.0 09/16/2016 2,000,000 18,800
Frontier Communications Corp., 10.5%, 9/15/22 (144A) 10.5 09/15/2022 530,000 542,853
Hexion, Inc., 6.625%, 4/15/20 6.625 04/15/2020 1,220,000 965,613
Wright Medical Group, Inc., 2.0%, 2/15/20 (144A) 2.0 02/15/2020 2,610,000 2,719,439
Denbury Resources, Inc., 5.5%, 5/1/22 5.5 05/01/2022 4,545,000 1,550,512
BioMarin Pharmaceutical, Inc., 1.5%, 10/15/20 1.5 10/15/2020 1,920,000 2,571,680
Quidel Corp., 3.25%, 12/15/20 3.25 12/15/2020 935,000 907,716
Revlon Consumer Products Corp., 5.75%, 2/15/21 5.75 02/15/2021 1,245,000 1,231,582
Communications Sales & Leasing, Inc.     117,160 2,189,720
CEVA GROUP Plc     2,282 1,026,927
Marathon Petroleum Corp.     39,932 2,070,075
Concho Resources, Inc., 5.5%, 4/1/23 5.5 04/01/2023 3,675,000 3,449,906
WPX Energy, Inc., 8.25%, 8/1/23 8.25 08/01/2023 1,995,000 1,668,693
Insulet Corp., 2.0%, 6/15/19 2.0 06/15/2019 3,985,000 4,130,508
Talen Energy Supply LLC, 6.5%, 6/1/25 (144A) 6.5 06/01/2025 3,975,000 2,645,031
T-Mobile USA, Inc., 6.731%, 4/28/22 6.731 04/28/2022 2,000,000 2,142,214
ONEOK, Inc., 7.5%, 9/1/23 7.5 09/01/2023 3,800,000 3,266,417
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 8.0 12/01/2018 1,750,000 1,512,292
Viking Cruises, Ltd., 6.25%, 5/15/25 (144A) 6.25 05/15/2025 1,680,000 1,391,017

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