Pioneer Global High Yield Fund

Top 10 Portfolio Holdings as of 6/30/2014
Default: sorted by market value

Security Name Par / Shares Market Value
Abengoa Finance SAU, 6.0%, 3/31/21 (144A) 2,725,000 $3,985,534
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 6,900,000 $7,899,063
Access Flt% 24jun21 144a 3,485,000 $3,457,220
Accudyne Industries Borrower, 7.75%, 12/15/20 (144A) 1,995,000 $2,141,522
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 3,225,000 $3,605,662
Advanced Micro Devices, Inc., 6.75%, 3/1/19 (144A) 5,070,000 $5,524,716
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 1,034,998 $1,037,715
AEP Industries, Inc., 8.25%, 4/15/19 3,355,000 $3,597,958
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 3,775,000 $3,437,908
AES Corp. Virginia, 5.5%, 3/15/24 1,350,000 $1,403,888
Affinion Group, Inc., Tranche B Term Loan, 10/9/16 2,187,507 $2,200,667
Agrokor dd, 8.875%, 2/1/20 (144A) 1,960,000 $2,272,579
Agrokor dd, 9.875%, 5/1/19 (144A) 3,200,000 $4,980,620
Aguila 3 SA, 7.875%, 1/31/18 (144A) 3,900,000 $4,243,322
Aircraft Finance Trust, Floating Rate Note, 5/15/24 11,396,000 $2,776,070
Akbank TAS, 7.5%, 2/5/18 (144A) 4,500,000 $2,031,754
Alaltd Flt% 07jun17 144a 250,000 $250,525
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 995,000 $1,099,973
Alfa Bank OJSC Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A) 4,000,000 $4,204,167
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 1,039,503 $1,040,672
Alliance One International, Inc., 9.875%, 7/15/21 7,165,000 $7,634,556
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 1,858,822 $1,865,793
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3,206 $3,218
Ally Financial, Inc., 7.0%, 12/31/49 (Perpetual) (144A) 3,100 $3,123,347
Alpha Natural Resources, Inc., 6.0%, 6/1/19 315,000 $230,738
Altair Re, Floating Rate Note, 4/30/16 (Cat Bond) 1,515,236 $1,901,166
Altice Financing SA, 6.5%, 1/15/22 (144A) 2,800,000 $3,082,606
Altice Finco SA, 8.125%, 1/15/24 (144A) 600,000 $688,448
Altice SA, 7.75%, 5/15/22 (144A) 2,025,000 $2,184,792
Alto Palermo SA, 7.875%, 5/11/17 (144A) 5,750,000 $5,640,391
Altrl Flt% 30jun16 5,300,000 $5,487,090
Amd 7% 01jul24 144a 1,965,000 $2,012,488
American Energy Partners Inc L + 7.75% 17jun15 6,970,000 $6,970,000
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 2,770,000 $3,011,144
American Home Mortgage Investment Trust 2005-1, Floating Rate Note, 6/25/45 8,800,000 $913,282
Amortizing Residential Collateral Trust 2002-BC1, Floating Rate Note, 1/25/32 8,200,000 $314,268
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 4,400,000 $4,463,556
Amsurg Corp Bridge L + 6% 29may15 3,135,000 $3,150,675
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 1,900,000 $2,133,938
Arcos Dorados Holdings, Inc., 10.25%, 7/13/16 (144A) 4,250,000 $1,904,371
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 2,400,000 $442,141
Ardagh Packaging Finance Plc, 9.125%, 10/15/20 (144A) 5,000,000 $5,633,819
Ardagh Packaging Finance Plc, 9.25%, 10/15/20 (144A) 2,100,000 $3,191,192
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 1,291,609 $1,300,085
ARD Finance SA, 11.125%, 6/1/18 (144A) (PIK) 11,876,094 $12,680,947
Argid 8.375% 15jun19 144a 400,000 $555,721
Argid 8.625% 15jun19 144a 2,960,000 $3,062,274
Aria 3.625% 15jun19 144a 1,675,000 $1,632,170
Arlington Flt% 01aug15 1,450,000 $1,461,745
Atlas Reinsurance VII, Ltd., Floating Rate Note, 1/7/16 (Cat Bond) (144A) 450,000 $475,406
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 5,000,000 $5,350,833
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6,210,000 $5,861,981
Banco de Credito del Peru Panama, Floating Rate Note, 11/6/69 (144A) 6,875,000 $8,438,346
Banco de Galicia y Buenos Aires SA, 8.75%, 5/4/18 (144A) 5,250,000 $5,257,109
Banco Macro SA, Floating Rate Note, 12/18/36 820,000 $720,387
Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A) 2,000,000 $2,070,833
Baytex Energy Corp., 5.125%, 6/1/21 (144A) 5,000,000 $5,049,045
Bayview Opportunity Master Fund Trust 2013-3RPL, 4.0%, 4/28/18 (Step) (144A) 1,000,000 $996,859
BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A) 1,250,000 $1,452,578
Bcbcn 5.375% 01jul22 144a 3,200,000 $3,211,344
Bdc 5.25% 15jul24 144a 1,000,000 $1,008,083
Belden, Inc., 5.5%, 4/15/23 (144A) 1,800,000 $2,611,012
Belvedere SA, 12/23/16 5,578,091 $458,385
Berau Capital Resources Pte, Ltd., 12.5%, 7/8/15 (144A) 11,063,000 $12,073,267
Berau Coal Energy Tbk PT, 7.25%, 3/13/17 (144A) 3,750,000 $3,719,063
Berkeley-Kane Flt% 12jun15 903,800 $907,867
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 417,670 $420,280
BioScrip, Inc., Initial Term B Loan, 7/31/20 696,116 $700,467
BLAZE RECYCLING & METALS LLC/ BLAZE FINANCE CORP 6,615,974 $396,958
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 250,000 $257,570
Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A) 725,000 $735,026
Bombardier, Inc., 4.75%, 4/15/19 (144A) 2,100,000 $2,161,133
Bombardier, Inc., 6.0%, 10/15/22 (144A) 4,900,000 $5,094,367
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 1,270,000 $1,376,998
Brazilian Government International Bond, 10.25%, 1/10/28 2,950,000 $1,462,939
Brazil Minas SPE via State of Minas Gerais, 5.333%, 2/15/28 (144A) 5,250,000 $5,403,021
BreitBurn Energy Partners LP, 7.875%, 4/15/22 2,830,000 $3,110,524
BR Malls International Finance, Ltd., 8.5%, 12/31/49 (Perpetual) (144A) 4,025,000 $4,272,649
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 2,100,000 $2,226,817
BTA Bank JSC (G.D.R.) (144A) 24,638 $12,073
Bumi Capital Pte, Ltd., 12.0%, 11/10/16 (144A) 6,200,000 $3,205,400
Bumi Resources Tbk PT, Loan, 11/7/14 4,700,000 $2,820,000
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 1,925,000 $1,968,449
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 1,250,000 $1,317,656
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 2,175,000 $2,351,719
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 (144A) 4,025,000 $4,171,633
Cambium Learning Group, Inc., 9.75%, 2/15/17 4,225,000 $4,475,683
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 3,045,000 $3,429,063
CarNow Auto Receivables Trust 2012-1, 6.9%, 11/15/16 (144A) 675,000 $678,205
Carrington Mortgage Loan Trust Series 2007-FRE1, Floating Rate Note, 2/25/37 8,090,000 $6,573,559
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 2,000,000 $2,239,167
Cascn 5.5% 15jul22 144a 4,290,000 $4,287,140
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (PIK) 2,274,177 $1,948,843
CEDC Finance Corp International, Inc., 9.0%, 4/30/18 (Step) 4,829,992 $4,617,741
Cemex Finance LLC, 6.0%, 4/1/24 (144A) 600,000 $633,750
Cemex SAB de CV, 3.75%, 3/15/18 9,300,000 $14,209,625
Cengage Learning Holdings II LP 11,492 $406,530
CEVA GROUP Plc 1,584 $1,742,015
CEVA GROUP Plc, 0.0%, 12/31/14 3,428 $3,770,987
CFG Investment SAC, 9.75%, 7/30/19 (144A) 4,450,000 $4,465,111
Chaparral Energy, Inc., 7.625%, 11/15/22 2,596,000 $2,828,973
Chiquita Brands International, Inc., 7.875%, 2/1/21 2,705,000 $3,033,827
CHS, 6.875%, 2/1/22 (144A) 7,895,000 $8,600,890
Cia de Transporte de Energia Electrica en Alta Tension Transener SA, 9.75%, 8/15/21 (144A) 5,681,000 $4,583,620
Cimarex Energy Co., 4.375%, 6/1/24 4,800,000 $4,905,750
Cincinnati Bell, Inc., 8.375%, 10/15/20 4,790,000 $5,335,727
Cincinnati Bell, Inc., 8.75%, 3/15/18 8,378,000 $9,002,277
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 6,950,000 $9,981,492
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 1,523,000 $1,383,928
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 2,150,000 $2,219,421
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 160,000 $4,423,840
Citrix Systems, Inc., 0.5%, 4/15/19 (144A) 1,945,000 $2,060,917
City of Buenos Aires Argentina, 12.5%, 4/6/15 (144A) 7,300,000 $7,643,201
Cobalt International Energy, Inc., 2.625%, 12/1/19 7,610,000 $7,036,872
Combine Re, Ltd., Floating Rate Note, 1/7/15 (Cat Bond) (144A) 1,250,000 $1,370,378
CommScope, Inc., 5.0%, 6/15/21 (144A) 1,475,000 $1,510,851
CommScope, Inc., 5.5%, 6/15/24 (144A) 1,405,000 $1,434,485
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 1,500,000 $1,557,765
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 1,000,000 $1,043,038
Comstock Resources, Inc., 7.75%, 4/1/19 4,240,000 $4,597,750
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 5,075,000 $4,919,049
Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17 10,600,000 $1,348,105
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 5,750,000 $6,251,208
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 4,750,000 $4,801,851
Corp Pesquera Inca SAC, 9.0%, 2/10/17 (144A) 9,720,000 $9,819,630
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/34 1,700,000 $1,365,248
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 1,502,000 $1,366,697
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/15/35 (144A) 9,000,000 $4,828,806
Csgrpe 5.375% 15jul22 144a 2,535,000 $2,547,675
Cubist Pharmaceuticals, Inc., 1.125%, 9/1/18 (144A) 1,000,000 $1,128,750
CWGS Group LLC, Term Loan, 2/20/20 6,023,750 $6,083,988
DAE Aviation Holdings, Inc., Replacement Tranche B-1 Loan, 11/2/18 3,777,207 $3,822,062
Denbury Resources, Inc., 5.5%, 5/1/22 3,695,000 $3,812,573
Desarrolladora Homex SAB de CV, 0.0%, 12/11/19 (144A) 9,802,000 $1,935,895
Digicel Group, Ltd., 8.25%, 9/30/20 (144A) 3,600,000 $3,999,075
DigitalGlobe, Inc., 5.25%, 2/1/21 2,970,000 $3,005,269
DTEK Finance Plc, 7.875%, 4/4/18 (144A) 5,525,000 $4,678,190
Dva 5.125% 15jul24 4,835,000 $4,877,608
Dycom Investments, Inc., 7.125%, 1/15/21 2,230,000 $2,470,515
DynCorp International, Inc., 10.375%, 7/1/17 2,158,000 $2,367,056
East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A) 750,000 $763,190
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 400,000 $426,360
Ecua 7.95% 20jun24 144a 2,510,000 $2,600,182
Electricite de France SA, Floating Rate Note, 12/31/49 (Perpetual) (144A) 7,150,000 $7,452,421
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 500,000 $512,266
Empresa de Telecomunicaciones de Bogota, 7.0%, 1/17/23 (144A) 1,626,000,000 $827,146
Empresa Distribuidora Y Comercializadora Norte, 9.75%, 10/25/22 (144A) 811,000 $638,967
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 6,450,000 $7,055,279
Endp 5.375% 15jan23 144a 6,165,000 $6,158,214
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 2,995,000 $3,597,224
Energy Transfer Equity LP, 5.875%, 1/15/24 (144A) 2,790,000 $3,010,710
Energy Transfer Partners LP, Floating Rate Note, 11/1/66 950,000 $878,270
Entegris, Inc., 6.0%, 4/1/22 (144A) 4,025,000 $4,206,125
EP Energy LLC, 9.375%, 5/1/20 13,700,000 $15,900,563
EPL Oil & Gas, Inc., 8.25%, 2/15/18 4,980,000 $5,483,810
Eqty14-Inmz Flt% 08may31 M 840,000 $841,488
Eqty14-Inns Flt% 08may19 E 1,175,000 $1,176,631
Equinix, Inc., 5.375%, 4/1/23 2,910,000 $3,014,578
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 12,619,334 $12,566,750
Expro Finance Luxembourg SCA, 8.5%, 12/15/16 (144A) 1,297,000 $1,360,265
Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A) 1,700,000 $592,327
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 6,800,000 $7,555,792
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 3,500,000 $2,933,389
Ferrexpo Finance Plc, 7.875%, 4/7/16 (144A) 11,475,000 $11,226,853
Fig 12% 01jul19 144a 2,450,000 $2,514,313
First Data Corp., 12.625%, 1/15/21 3,597,000 $4,638,207
First Horizon Mortgage Pass-Through Trust 2004-6, Floating Rate Note, 11/25/34 750,000 $232,937
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 3,370,000 $3,602,530
Ford Motor Co., 4.25%, 11/15/16 4,894,000 $9,805,401
Forest City Enterprises, Inc., 4.25%, 8/15/18 2,805,000 $3,214,686
Foundation Re III, Ltd., Floating Rate Note, 2/25/15 (Cat Bond) (144A) 1,950,000 $1,970,323
FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A) 1,865,000 $84,325
FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A) 2,465,000 $254,705
Freeport-McMoRan Copper & Gold, Inc. 95,846 $3,498,379
Fresnillo Plc, 5.5%, 11/13/23 (144A) 1,825,000 $1,920,508
Frontier Communications Corp., 7.125%, 1/15/23 5,200,000 $5,682,842
Frontier Communications Corp., 8.5%, 4/15/20 2,940,000 $3,521,957
Frontier Communications Corp., 8.75%, 4/15/22 10,345,000 $12,191,295
FTS International, Inc., 6.25%, 5/1/22 (144A) 2,680,000 $2,775,196
Fts International Inc 1st Lien Term L + 4.75% 01apr21 1,300,000 $1,315,708
Fx Vanilla Option Call Usd/Put Try 2.95 12 01 2015 Tr -4,923,449 $-8,144
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 1,500,000 $1,554,542
GCI, Inc., 6.75%, 6/1/21 500,000 $509,063
General Cable Corp., 4.5%, 11/15/29 (Step) 1,250,000 $1,244,688
General Cable Corp., 6.5%, 10/1/22 (144A) 3,250,000 $3,359,688
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 980,094 $986,219
Gentiva Health Services, Inc., 11.5%, 9/1/18 833,000 $921,159
Gentiva Health Services, Inc., Initial Term B Loan, 10/10/19 1,029,538 $1,031,469
GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A) 3,260,000 $3,624,033
Gff 5.25% 01mar22 6,750,000 $6,829,875
Ghana Government Bond, 19.24%, 5/30/16 5,400,000 $1,516,095
Ghana Government Bond, 21.0%, 10/26/15 3,660,000 $1,094,855
Ghana Government Bond, 26.0%, 6/5/17 2,000,000 $624,017
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 1,230,000 $1,369,759
GMAC Capital Trust I, Floating Rate Note, 2/15/40 355,600 $9,707,880
Golar LNG, Ltd., 3.75%, 3/7/17 800,000 $1,080,293
Golar LNG Partners LP, Floating Rate Note, 10/12/17 12,000,000 $2,089,352
Gol Finance, 9.25%, 7/20/20 (144A) 7,363,000 $7,943,706
Green Field Energy Services, Inc., 0.0%, 11/15/16 (144A) 54,000 $12,389
Green Field Energy Services, Inc., 11/15/21 (144A) 2,275 $2,286
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 (144A) 1,740,000 $1,832,909
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 3,850,000 $3,950,260
Grupo Papelero Scribe SA de CV, 8.875%, 4/7/20 (144A) 100,000 $103,357
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 2,050,000 $2,164,096
Gulfport Energy Corp., 7.75%, 11/1/20 4,990,000 $5,466,129
Halcon Resources Corp., 8.875%, 5/15/21 6,250,000 $6,789,627
Heckler & Koch GmbH, 9.5%, 5/15/18 (144A) 4,700,000 $6,828,175
Hilcrp 5% 01dec24 144a 3,790,000 $3,790,000
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 1,300,000 $969,304
Horizon Lines, Inc. 2,370,345 $947,901
Hunter Defense Technologies, Inc., Series 1 New Term Loan, 8/22/14 1,941,681 $1,873,722
Hunter Defense Technologies, Inc., Term Loan, 8/22/14 1,462,095 $1,403,611
IAC, 4.875%, 11/30/18 700,000 $732,689
Iadb 7.25% 17jul17 5,140,000,000 $432,270
IAP Worldwide Services, Inc., Term Loan (First Lien), 12/31/15 1,926,073 $558,561
Ibis Re II, Ltd., Floating Rate Note, 2/5/15 (Cat Bond) (144A) 1,250,000 $1,260,559
Ibis Re II, Ltd., Floating Rate Note, 2/5/15 (Cat Bond) (144A) 1,925,000 $1,948,389
Icon Health & Fitness, Inc., 11.875%, 10/15/16 (144A) 5,000,000 $5,050,347
Immucor, Inc., 11.125%, 8/15/19 3,200,000 $3,702,489
Independencia International, Ltd., 0.0%, 12/30/16 (144A) 2,969,595 $898,302
Indo Energy Finance II BV, 6.375%, 1/24/23 (144A) 1,900,000 $1,638,374
Indonesia Treasury Bond, 7.0%, 5/15/22 53,000,000,000 $4,198,033
Indonesia Treasury Bond, 8.25%, 6/15/32 81,459,000,000 $6,483,561
INEOS Group Holdings SA, 5.75%, 2/15/19 (144A) 4,325,000 $6,242,303
Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A) 940,000 $1,029,155
Intel 6.625% 15dec22 6,300,000 $6,594,175
Intelsat Luxembourg SA, 7.75%, 6/1/21 4,000,000 $4,260,833
Inter-American Development Bank, 4.5%, 2/4/16 11,650,000,000 $964,027
InterGen NV, 7.0%, 6/30/23 (144A) 1,500,000 $1,601,542
International Finance Corp., 5.0%, 12/21/15 11,200,000 $4,859,923
International Finance Corp., 7.75%, 12/3/16 241,840,000 $4,090,363
International Finance Corp., 8.25%, 6/10/21 240,670,000 $4,236,938
inVentiv Health, Inc., Consolidated Term Loan, 8/4/16 1,115,878 $1,122,853
Inversiones Alsacia SA, 8.0%, 8/18/18 (144A) 7,630,000 $3,995,154
IRSA Inversiones y Representaciones SA, 8.5%, 2/2/17 (144A) 8,405,000 $8,572,096
James River Coal Co., 7.875%, 4/1/19 4,435,000 $805,230
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 2,980,000 $3,382,300
JBS Finance II, Ltd., 8.25%, 1/29/18 (144A) 4,690,000 $5,134,768
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 6,800,000 $7,158,511
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 3,720,000 $4,030,853
JLL, 7.5%, 2/1/22 (144A) 4,755,000 $5,066,056
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 4,340,000 $4,532,226
Jones Energy Holdings LLC, 6.75%, 4/1/22 (144A) 1,300,000 $1,393,438
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 2,100,000 $2,191,236
JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35 5,923,886 $2,344,753
Juniper Generation LLC, 6.79%, 12/31/14 (144A) 2,850,000 $70,406
Kane Flt% 01dec20 903,800 $906,692
Kane Flt% 12jun15 2,400,000 $2,123,760
Kane Flt% 14jul15 814,976 $769,908
Kane Flt% 30jul16 1,006,000 $1,019,581
Kane-Pi2 Zero% 18jul16 1,806,000 $1,872,100
KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A) 1,000,000 $987,956
KB Home, 1.375%, 2/1/19 4,640,000 $4,689,783
KB Home, 7.0%, 12/15/21 800,000 $874,489
Kenya 5.875% 24jun19 144a 4,350,000 $4,444,144
Kenya 6.875% 24jun24 144a 4,355,000 $4,535,022
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 2,000,000 $1,990,859
Kilimanjaro Re, Ltd., Floating Rate Note, 4/30/18 (Cat Bond) (144A) 350,000 $343,770
Kindred Healthcare, Inc., 6.375%, 4/15/22 (144A) 2,400,000 $2,446,850
Kodiak Oil & Gas Corp., 8.125%, 12/1/19 5,215,000 $5,810,922
KP Germany Erste GmbH, 11.625%, 7/15/17 (144A) 2,500,000 $4,035,816
Lam Research Corp., 1.25%, 5/15/18 3,400,000 $4,650,681
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9,652,000 $10,146,263
LDK Solar Co, Ltd., 10.0%, 2/28/14 14,000,000 $599,181
Lear Corp., 11/9/14 990 $175,438
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 1,102,000 $540,525
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 12,652,000 $6,205,589
Lennar Corp., 4.75%, 11/15/22 4,450,000 $4,454,759
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 5,080,000 $4,851,400
LifePoint Hospitals, Inc., 5.5%, 12/1/21 (144A) 4,300,000 $4,523,958
Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A) 750,000 $814,453
Live Nation Entertainment, Inc., 5.375%, 6/15/22 (144A) 1,025,000 $1,043,628
LKQ Corp., 4.75%, 5/15/23 1,250,000 $1,240,087
Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 792,928 $317,171
Longpoint Re, Ltd. III, Floating Rate Note, 5/18/16 (Cat Bond) (144A) 1,450,000 $1,469,543
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 33,500 $3,443,130
Magnesita Finance, Ltd., 8.625%, 12/31/49 (Perpetual) (144A) 4,100,000 $4,143,477
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 20,248,000 $22,071,164
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 2,334,717 $365,221
Mbnau 9.5% 20may19 144a 1,571,667 $1,582,036
Memorial Production Partners LP, 7.625%, 5/1/21 3,000,000 $3,176,875
Mentor Graphics Corp., 4.0%, 4/1/31 1,025,000 $1,265,234
Meritor, Inc., 6.75%, 6/15/21 3,150,000 $3,397,590
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 1,800,000 $1,766,813
Metalloinvest Finance, Ltd., 6.5%, 7/21/16 (144A) 2,660,000 $2,859,869
Metinvest BV, 10.25%, 5/20/15 (144A) 4,620,000 $4,500,682
Metinvest BV, 8.75%, 2/14/18 (144A) 11,350,000 $10,252,439
Mexican Bonos, 7.5%, 6/3/27 4,800,000 $420,060
Mexican Udibonos, 2.0%, 6/9/22 44,000,000 $17,328,630
Mexican Udibonos, 3.5%, 12/14/17 2,050,000 $888,097
MHP SA, 8.25%, 4/2/20 (144A) 6,300,000 $5,894,254
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 2,800,000 $3,094,583
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 10,175,000 $5,469,345
MIE Holdings Corp., 7.5%, 4/25/19 (144A) 5,000,000 $5,360,350
Minerva Luxembourg SA, 12.25%, 2/10/22 (144A) 4,755,000 $5,601,291
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 24,000,000 $26,460,167
Mirabela Nickel, Ltd., 8.75%, 4/15/18 (144A) 11,725,000 $3,426,306
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 4,000,000 $4,058,850
MMM Holdings, Inc., MMM Term Loan, 12/12/17 1,097,346 $1,106,948
Molycorp, Inc., 10.0%, 6/1/20 5,300,000 $4,920,167
Monitronics International, Inc., Term B Loan (2013), 3/23/18 2,263,118 $2,270,898
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 1,675,000 $1,867,299
Mrd 5.875% 01jul22 144a 1,525,000 $1,536,438
Mrfgbz 6.875% 24jun19 144a 3,615,000 $3,661,405
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 797,807 $804,788
Murray Energy Corp., 8.625%, 6/15/21 (144A) 1,900,000 $2,064,033
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 2,150,000 $2,280,362
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 800,000 $862,437
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 650,000 $701,953
NANA Development Corp., 9.5%, 3/15/19 (144A) 1,475,000 $1,479,384
Nara Cable Funding, Ltd., 8.875%, 12/1/18 (144A) 1,550,000 $2,281,803
Nara Cable Funding, Ltd., 8.875%, 12/1/18 (144A) 1,600,000 $1,719,833
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 2,543,625 $2,560,583
National Surgical Hospitals, Inc., Term Loan, 8/1/19 1,492,500 $1,499,030
Nationstar Mortgage LLC, 6.5%, 6/1/22 8,870,000 $8,918,046
Nationstar Mortgage LLC, 6.5%, 7/1/21 3,000,000 $3,105,000
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 3,650,000 $3,846,720
Navistar International Corp., 8.25%, 11/1/21 8,405,000 $8,888,288
NeuStar, Inc., 4.5%, 1/15/23 1,700,000 $1,505,775
Newhall Land Development LLC 161,215 $725,468
New World Resources NV, 7.875%, 1/15/21 (144A) 1,050,000 $282,392
Nigeria Government Bond, 16.0%, 6/29/19 542,795,000 $4,163,039
Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A) 8,875,000 $2,139,674
North Atlantic Drilling, Ltd., 6.25%, 2/1/19 (144A) 4,100,000 $4,156,233
NorthStar Realty Finance Corp., 3.0%, 9/30/14 6,485,000 $6,522,293
Novellus Systems, Inc., 2.625%, 5/15/41 1,750,000 $3,547,432
NRG Energy, Inc., 6.25%, 5/1/24 (144A) 7,100,000 $7,505,785
NSG Holdings LLC, 7.75%, 12/15/25 (144A) 357,000 $386,790
Nuance Communications, Inc., 2.75%, 11/1/31 6,365,000 $6,386,217
Numericable Group SA, 6.0%, 5/15/22 (144A) 1,250,000 $1,311,042
NuStar Logistics LP, Floating Rate Note, 1/15/43 131,100 $3,529,212
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 7,700,000 $8,096,550
Oasis Petroleum, Inc., 6.5%, 11/1/21 2,840,000 $3,083,767
Old AII, Inc., 0.0%, 12/15/16 6,510,000 $1,656,498
Ormat Funding Corp., 8.25%, 12/30/20 10,665,000 $5,636,473
Outr 5.875% 15jun21 144a 3,205,000 $3,240,544
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 999,900 $1,005,524
Pacific Rubiales Energy Corp., 5.375%, 1/26/19 (144A) 7,570,000 $8,134,727
Pangaea Re, 0.0%, 10/1/15 (Cat Bond) 3,550,000 $3,987,005
Panolam Holdings Co. 894 $700,002
Pegasus Solutions, Inc., 13.0%, 9/15/14 (144A) 11,940,241 $11,434,764
PERSEUS HOLDING Corp., 0.0%, 12/31/49 (Perpetual) 33,046 $49,569
Perseus Holding Corp., 14.0%, 9/15/14 17,350 $1,422,700
Pesquera Exalmar S.A.A., 7.375%, 1/31/20 (144A) 6,500,000 $6,213,571
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 5,340,000 $5,472,610
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 1,375,000 $1,468,672
Post Holdings, Inc., 7.375%, 2/15/22 1,675,000 $1,857,761
PPL Capital Funding, Inc., 5.9%, 4/30/73 212,000 $5,200,360
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 1,560,000 $1,767,220
Pro Mach, Inc., Term Loan, 7/6/17 1,418,897 $1,429,539
Province of Salta Argentina, 9.5%, 3/16/22 (144A) 3,600,000 $3,229,824
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 3,025,000 $3,030,514
Provincia de Buenos Aires Argentina, 11.75%, 10/5/15 (144A) 2,125,000 $2,131,523
Provincia de Neuquen Argentina, 7.875%, 4/26/21 (144A) 2,600,000 $2,213,798
Pva 6% 31dec49 144a Perpetual 16,300 $1,949,643
QR Energy LP, 9.25%, 8/1/20 2,450,000 $2,771,052
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 2,000,000 $2,028,583
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 750,000 $779,271
Queen Street VI Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 300,000 $309,199
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 900,000 $917,998
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 9,820,000 $10,376,467
Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A) 47,000,000 $3,457,624
Regal Entertainment Group, 5.75%, 2/1/25 1,115,000 $1,155,651
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 10,750,000 $8,744,005
Rent-A-Center, Inc., 4.75%, 5/1/21 2,710,000 $2,582,404
Republic of Ghana, 7.875%, 8/7/23 (144A) 2,335,000 $2,332,665
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 3,450,000 $3,609,850
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 750,000 $782,663
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 950,000 $1,075,680
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 450,000 $468,222
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 1,800,000 $1,967,858
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,100,000 $1,214,559
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 550,000 $600,466
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,850,000 $2,239,014
Residential Reinsurance 2013, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 750,000 $786,468
Resolute Forest Products, Inc., 5.875%, 5/15/23 5,685,000 $5,642,402
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 2,400,000 $2,684,800
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 7,490,000 $7,917,762
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 4,675,000 $5,351,966
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 2,200,000 $2,322,833
Romania Government Bond, 5.85%, 4/26/23 24,770,000 $8,647,154
Rosetta Resources, Inc., 5.875%, 6/1/22 6,995,000 $7,344,021
Rosetta Resources, Inc., 5.875%, 6/1/24 1,935,000 $2,022,505
Russian Agricultural Bank OJSC Via RSHB Capital SA, 8.5%, 10/16/23 (144A) 5,550,000 $5,856,406
Rwanda International Government Bond, 6.625%, 5/2/23 (144A) 2,000,000 $2,091,315
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 4,000,000 $4,322,500
Sabine Pass Liquefaction LLC, 5.75%, 5/15/24 (144A) 1,935,000 $2,029,909
Sanchez Energy Corp., 7.75%, 6/15/21 (144A) 1,500,000 $1,632,667
Sanders Re, Ltd., Floating Rate Note, 5/25/18 (Cat Bond) 1,600,000 $1,584,160
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 1,600,000 $1,601,138
SanDisk Corp., 0.5%, 10/15/20 (144A) 155,000 $195,173
Scitor Corp., Term Loan, 2/15/17 2,177,194 $2,146,785
Seagate HDD Cayman, 4.75%, 1/1/25 (144A) 3,900,000 $3,887,731
Seagate HDD Cayman, 4.75%, 6/1/23 (144A) 6,925,000 $7,004,349
Sector Re V, Ltd., 0.0%, 12/1/17 (Cat Bond) (144A) 13,799 $0
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 2,350,000 $2,479,720
Sector Re V, Ltd., 0.0%, 3/1/18 (Cat Bond) (144A) 3,533 $219,209
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 1,000,000 $1,012,900
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 1,500,000 $1,484,893
Shelf Drilling Holdings, Ltd., 8.625%, 11/1/18 (144A) 2,835,000 $3,074,203
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 2,000,000 $2,301,200
Sirius International Group, Ltd., Floating Rate Note, 12/31/49 (Perpetual) (144A) 8,535,000 $9,283,848
SM Energy Co., 6.5%, 1/1/23 1,650,000 $1,839,750
Sn 6.125% 15jan23 144a 3,765,000 $3,889,925
Spwr 0.875% 01jun21 144a 2,290,000 $2,681,844
Standard Aero, Ltd., Replacement Tranche B-2 Loan, 11/2/18 1,712,338 $1,733,742
Standard Pacific Corp., 6.25%, 12/15/21 5,810,000 $6,218,314
Star Gas Partners LP, 8.875%, 12/1/17 2,437,000 $2,600,756
Stone Energy Corp., 7.5%, 11/15/22 3,800,000 $4,225,917
Successor X, Ltd., Floating Rate Note, 1/27/15 (Cat Bond) (144A) 875,000 $916,679
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 375,000 $396,122
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 950,000 $986,356
Suntech Power Holdings Co, Ltd., 0.0%, 3/15/13 535,000 $190,074
Surgery Center Holdings, Inc., Term Loan (First Lien), 4/11/19 1,872,000 $1,881,360
Swift Energy Co., 8.875%, 1/15/20 2,410,000 $2,665,276
TAL Education Group, 2.5%, 5/15/19 (144A) 1,270,000 $1,574,359
Talos Production LLC, 9.75%, 2/15/18 (144A) 3,020,000 $3,312,437
TAM Capital 3, Inc., 8.375%, 6/3/21 (144A) 4,250,000 $4,638,934
Targa Resources Partners LP, 4.25%, 11/15/23 5,850,000 $5,845,206
Tar Heel Re, Ltd., Floating Rate Note, 5/9/16 (Cat Bond) (144A) 900,000 $933,928
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 10,395,000 $10,999,506
Telenet Finance V Luxembourg SCA, 6.25%, 8/15/22 (144A) 1,600,000 $2,454,303
Tenet Healthcare Corp., 4.375%, 10/1/21 3,945,000 $4,006,641
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 2,810,000 $3,144,234
The PNC Financial Services Group, Inc., Floating Rate Note, 12/31/49 (Perpetual) 13,430,000 $15,347,133
TI Group Automotive Systems LLC, Additional Term Loan, 3/28/19 3,111,798 $3,127,319
TimberStar Trust 1, 7.5296%, 10/15/36 (144A) 4,315,000 $4,610,917
T-Mobile USA, Inc., 6.542%, 4/28/20 2,880,000 $3,190,474
T-Mobile USA, Inc., 6.633%, 4/28/21 1,940,000 $2,154,739
T-Mobile USA, Inc., 6.731%, 4/28/22 1,300,000 $1,439,564
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 4,400,000 $4,324,497
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 1,625,000 $1,728,526
Towergate Finance Plc, 10.5%, 2/15/19 (144A) 4,840,000 $8,313,387
Towergate Finance Plc, Floating Rate Note, 2/15/18 (144A) 1,200,000 $2,019,626
Tradewynd Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 250,000 $254,350
Transportadora de Gas del Sur SA, 9.625%, 5/14/20 7,617,602 $5,899,257
Trilogy Energy Corp., 7.25%, 12/13/19 (144A) 2,775,000 $2,780,828
Trust F, 5.25%, 12/15/24 (144A) 2,565,000 $2,699,235
Tullow Oil Plc, 6.0%, 11/1/20 (144A) 1,520,000 $1,592,200
Turkiye Is Bankasi, 6.0%, 10/24/22 (144A) 1,500,000 $1,517,500
UBS AG, 7.625%, 8/17/22 10,650,000 $13,125,635
Ukraine Government International Bond, 6.75%, 11/14/17 (144A) 575,000 $553,617
Ukraine Government International Bond, 7.8%, 11/28/22 (144A) 3,500,000 $3,332,525
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 1,850,000 $1,947,228
Unison Ground Lease Funding LLC, 5.78%, 3/15/20 (144A) 2,750,000 $2,834,956
Unit Corp., 6.625%, 5/15/21 3,765,000 $4,051,009
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 1,000,000 $1,011,500
United Continental Holdings, Inc., 6.0%, 7/15/26 3,500,000 $3,509,333
Urbi Desarrollos Urbanos SAB de CV, 0.0%, 2/3/22 (144A) 7,500,000 $1,190,625
USI, Inc. New York, 7.75%, 1/15/21 (144A) 4,900,000 $5,209,857
Vanguard Natural Resources LLC, 7.875%, 4/1/20 1,245,000 $1,372,223
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 12,660,000 $14,248,830
VeriSign, Inc., 4.625%, 5/1/23 4,430,000 $4,410,545
Vertafore, Inc., Term Loan (Second Lien), 10/29/17 3,500,000 $3,571,096
Viasystems, Inc., 7.875%, 5/1/19 (144A) 6,150,000 $6,584,344
Videotron, Ltd., 5.375%, 6/15/24 (144A) 4,375,000 $4,494,826
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 2,860,000 $3,211,621
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 4,875,000 $5,380,851
VimpelCom Holdings BV, 9.0%, 2/13/18 (144A) 130,000,000 $3,801,272
Vimpel Communications Via VIP Finance Ireland, Ltd. OJSC, 7.748%, 2/2/21 (144A) 7,800,000 $8,771,631
Virtual Radiologic Corp., Term Loan A, 12/22/16 1,427,063 $1,041,756
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 1,605,000 $1,556,449
Votorantim Cimentos SA, 7.25%, 4/5/41 (144A) 3,700,000 $3,972,207
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 4,500,000 $4,654,288
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 775,000 $819,015
WebMD Health Corp., 1.5%, 12/1/20 (144A) 3,750,000 $4,178,906
WebMD Health Corp., 2.5%, 1/31/18 3,485,000 $3,700,150
WellCare Health Plans, Inc., 5.75%, 11/15/20 5,120,000 $5,490,418
Wells Enterprises, Inc., 6.75%, 2/1/20 (144A) 1,144,000 $1,234,805
Wells Fargo & Co., 7.5%, 12/31/49 (Perpetual) 445 $540,230
WESCO Distribution, Inc., 5.375%, 12/15/21 (144A) 4,365,000 $4,473,640
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 700,000 $468,291
WideOpenWest Finance LLC, Term B Loan, 4/1/19 1,349,908 $1,357,185
Windstream Corp., 6.375%, 8/1/23 1,760,000 $1,830,950
Windstream Corp., 7.5%, 6/1/22 6,285,000 $6,882,075
Windstream Corp., 7.75%, 10/1/21 2,300,000 $2,557,313
Windstream Corp., 7.75%, 10/15/20 6,765,000 $7,442,252
Windstream Corp., 8.125%, 9/1/18 5,700,000 $6,139,375
WireCo WorldGroup, Inc., 9.5%, 5/15/17 1,100,000 $1,143,603
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 1,000,000 $1,015,375
WPE International Cooperatief UA, 10.375%, 9/30/20 (144A) 3,495,000 $1,926,534
YPF SA, 8.875%, 12/19/18 (144A) 1,000,000 $1,057,958

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