Pioneer Global High Yield Fund

Top 10 Portfolio Holdings as of 5/29/2015
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 3,900,000 $4,121,130
17079z Zero% 31mar18 2,400,000 $2,427,120
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 2,528,093 $2,400,846
Abengoa Finance SAU, 6.0%, 3/31/21 (144A) 640,000 $672,012
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 6,900,000 $7,259,830
Access Bank Plc, Floating Rate Note, 6/24/21 (144A) 3,485,000 $3,468,562
Acgl Zero% 01jul16 1,300,000 $1,323,790
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 1,850,000 $2,063,232
Advanced Micro Devices, Inc., 6.75%, 3/1/19 3,455,000 $3,136,924
Advanced Micro Devices, Inc., 7.0%, 7/1/24 905,000 $786,420
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 1,027,117 $1,035,676
AEP Industries, Inc., 8.25%, 4/15/19 3,355,000 $3,481,861
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 3,775,000 $3,203,193
AES Corp. Virginia, 5.5%, 3/15/24 1,650,000 $1,677,156
AES Corp. Virginia, 5.5%, 4/15/25 3,000,000 $2,972,250
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 2,171,060 $2,100,952
Africa Finance Corp., 4.375%, 4/29/20 (144A) 1,845,000 $1,881,932
Agrokor dd, 8.875%, 2/1/20 (144A) 1,960,000 $2,204,719
Agrokor dd, 9.875%, 5/1/19 (144A) 3,200,000 $3,816,117
Aguila 3 SA, 7.875%, 1/31/18 (144A) 6,100,000 $6,290,625
Aircraft Finance Trust, Floating Rate Note, 5/15/24 11,396,000 $1,729,735
Alamo Re, Ltd., Floating Rate Note, 6/7/18 (Cat Bond) (144A) 450,000 $450,045
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 995,000 $1,068,630
Alfa Bank OJSC Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A) 4,000,000 $4,023,333
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 1,020,068 $1,018,474
Alliance One International, Inc., 9.875%, 7/15/21 7,165,000 $6,498,879
Alliant Holdings I LLC, Initial Term Loan, 12/20/19 1,842,725 $1,854,625
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3,174 $3,194
Ally Financial, Inc., 4.125%, 3/30/20 1,200,000 $1,208,250
Ally Financial, Inc., 4.625%, 5/19/22 1,000,000 $1,001,413
Ally Financial, Inc., 7.0% (Perpetual) (144A) 1,550 $1,573,250
Alpha Natural Resources, Inc., 6.0%, 6/1/19 315,000 $53,498
Altice Financing SA, 6.5%, 1/15/22 (144A) 2,800,000 $2,938,250
Altice Financing SA, 6.625%, 2/15/23 (144A) 1,320,000 $1,396,028
Altice Finco SA, 8.125%, 1/15/24 (144A) 600,000 $648,281
Altice SA, 7.75%, 5/15/22 (144A) 1,000,000 $1,032,604
Altrl Zero% 30jun16 3,314,020 $1,923,457
Altrl Zero% 30jun17 2,400,000 $2,459,280
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 2,770,000 $1,353,568
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 3,830,000 $3,927,346
Amsurg Corp., 5.625%, 7/15/22 2,555,000 $2,669,576
Antero Resources Corp., 5.625%, 6/1/23 (144A) 1,750,000 $1,817,211
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 4,440,000 $4,143,137
A Preference Tig Finco 1,390 $0
A Preference Tig Finco 4,840 $1,184
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 1,900,000 $2,099,438
Arcos Dorados Holdings, Inc., 10.25%, 7/13/16 (144A) 4,250,000 $1,287,825
Ardagh Finance Holdings SA, 8.375%, 6/15/19 (144A) (PIK) 417,029 $503,600
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 3,089,777 $3,416,617
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 2,400,000 $435,353
Ardagh Packaging Finance Plc, 9.25%, 10/15/20 (144A) 2,100,000 $2,490,111
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 1,281,034 $1,286,905
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 2,285,000 $2,460,993
Arlington Flt% 01aug15 1,450,000 $1,650,825
A Schulman Inc Bridge L + 0% 27mar16 4,190,000 $4,190,000
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 2,100,000 $2,249,184
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6,210,000 $5,343,942
Banco de Galicia y Buenos Aires SA, 8.75%, 5/4/18 (144A) 3,730,000 $3,869,158
Banco Macro SA, Floating Rate Note, 12/18/36 820,000 $851,878
Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A) 2,000,000 $2,036,069
Banco Santander SA, Floating Rate Note (Perpetual) 2,400,000 $2,396,995
Bank of America Corp., Floating Rate Note, 10/23/49 2,525,000 $2,687,056
Bank of America Corp., Floating Rate Note, 9/29/49 3,425,000 $3,539,761
Banque Centrale de Tunisie SA, 5.75%, 1/30/25 (144A) 2,655,000 $2,788,856
BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A) 1,250,000 $1,433,438
Belden, Inc., 5.25%, 7/15/24 (144A) 1,000,000 $1,017,188
Belden, Inc., 5.5%, 4/15/23 1,800,000 $2,097,171
Belvedere SA, 12/23/16 5,578,091 $673,998
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 417,670 $415,059
BioScrip, Inc., Initial Term B Loan, 7/31/20 696,116 $691,765
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 475,000 $474,423
Boing Group Financing Plc, 6.625%, 7/15/19 (144A) 3,285,000 $3,582,303
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 2,165,000 $2,043,775
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 1,270,000 $1,239,441
B Preference Tig Finco 4,613,242 $6,913,930
BreitBurn Energy Partners LP, 7.875%, 4/15/22 2,830,000 $2,518,258
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 2,100,000 $2,220,313
Builders Firstsource Inc Bridge L + 7.5% 13apr16 6,100,000 $6,100,000
Bumi Resources Tbk PT, Loan, 11/7/15 4,700,000 $1,762,500
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 2,535,000 $2,548,071
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 1,860,000 $1,808,463
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 4,025,000 $4,062,734
Cambium Learning Group, Inc., 9.75%, 2/15/17 4,225,000 $4,403,242
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 3,045,000 $3,278,006
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 2,440,000 $2,469,136
Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 3,725,000 $3,820,194
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 2,000,000 $2,148,750
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (PIK) 2,507,279 $1,531,530
CEDC Finance Corp International, Inc., 9.0%, 4/30/18 (Step) 4,829,992 $4,528,118
Cemex SAB de CV, 3.72%, 3/15/20 (144A) 7,125,000 $7,747,238
Cengage Learning Holdings II LP 11,492 $321,776
CenturyLink, Inc., 5.625%, 4/1/25 (144A) 2,260,000 $2,208,797
CEVA GROUP Plc 1,584 $1,148,146
CEVA GROUP Plc, 0.0%, 12/31/14 3,428 $2,485,423
CFG Investment SAC, 9.75%, 7/30/19 (144A) 4,450,000 $4,398,825
Chaparral Energy, Inc., 7.625%, 11/15/22 2,596,000 $2,085,048
Chiquita Brands International, Inc., 7.875%, 2/1/21 1,246,000 $1,387,460
CHS, 6.875%, 2/1/22 5,675,000 $6,187,088
Cimpress NV, 7.0%, 3/24/22 (144A) 3,650,000 $3,851,967
Cincinnati Bell, Inc., 8.375%, 10/15/20 2,790,000 $2,983,120
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 6,950,000 $7,853,250
Citigroup, Inc., Floating Rate Note (Perpetual) 2,150,000 $2,184,310
Citigroup, Inc., Floating Rate Note (Perpetual) 160,000 $4,480,000
Citigroup, Inc., Floating Rate Note (Perpetual) 1,200,000 $1,222,708
Citrix Systems, Inc., 0.5%, 4/15/19 1,945,000 $2,053,191
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 2,800,000 $2,740,500
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 1,480,000 $1,397,584
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 455,000 $403,381
Cobalt International Energy, Inc., 2.625%, 12/1/19 5,035,000 $3,977,283
CommScope, Inc., 5.0%, 6/15/21 (144A) 1,475,000 $1,505,115
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 1,560,000 $1,579,500
Compass Re II, Ltd., Floating Rate Note, 12/8/15 (Cat Bond) (144A) 550,000 $522,500
Comstock Resources, Inc., 7.75%, 4/1/19 4,240,000 $2,067,854
Comstock Resources, Inc., 9.5%, 6/15/20 2,000,000 $1,057,083
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 4,385,000 $4,012,808
Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17 10,600,000 $1,305,193
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 1,610,000 $1,735,463
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 5,750,000 $6,314,219
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 971,000 $975,469
Cott Beverages, Inc., 5.375%, 7/1/22 (144A) 3,200,000 $3,207,189
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/34 1,700,000 $1,297,169
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 1,502,000 $1,555,229
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/15/35 (144A) 9,000,000 $6,595,950
Crestwood Midstream Partners LP, 6.25%, 4/1/23 (144A) 2,170,000 $2,310,642
CWGS Group LLC, Term Loan, 2/20/20 5,871,250 $5,919,506
Denbury Resources, Inc., 5.5%, 5/1/22 3,695,000 $3,542,787
Desarrolladora Homex SAB de CV, 0.0%, 12/11/19 (144A) 9,802,000 $2,937,632
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 1,335,000 $1,358,435
DPx Holdings BV, 7.5%, 2/1/22 (144A) 4,980,000 $5,333,788
DTEK Finance Plc, 7.875%, 4/4/18 (144A) 575,000 $261,154
Dycom Investments, Inc., 7.125%, 1/15/21 2,230,000 $2,406,658
DynCorp International, Inc., 10.375%, 7/1/17 2,433,000 $2,026,545
EC Finance Plc, 5.125%, 7/15/21 (144A) 3,695,000 $4,360,178
Ecuador Government International Bond, 10.5%, 3/24/20 (144A) 1,220,000 $1,304,485
Ecuador Government International Bond, 7.95%, 6/20/24 (144A) 2,510,000 $2,466,912
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 3,725,000 $3,936,378
Empresa de Telecomunicaciones de Bogota, 7.0%, 1/17/23 (144A) 1,626,000,000 $612,941
Empresa Distribuidora Y Comercializadora Norte, 9.75%, 10/25/22 (144A) 711,000 $605,046
Empresa Electrica Angamos SA, 4.875%, 5/25/29 (144A) 1,830,000 $1,847,252
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 6,450,000 $6,223,784
Endo Finance LLC, 5.375%, 1/15/23 (144A) 6,165,000 $6,150,551
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 2,995,000 $3,612,095
Energy Transfer Equity LP, 5.875%, 1/15/24 2,790,000 $3,025,842
Energy Transfer Partners LP, Floating Rate Note, 11/1/66 950,000 $824,272
Energy XXI, Ltd., 3.0%, 12/15/18 2,430,000 $835,313
Entegris, Inc., 6.0%, 4/1/22 (144A) 1,930,000 $2,035,828
EP Energy LLC, 9.375%, 5/1/20 13,700,000 $14,985,089
EPL Oil & Gas, Inc., 8.25%, 2/15/18 4,980,000 $3,605,831
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 1,175,000 $1,175,558
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/9/19 (144A) 840,000 $774,538
Equinix, Inc., 5.375%, 1/1/22 1,600,000 $1,710,389
Equinix, Inc., 5.375%, 4/1/23 2,910,000 $3,022,934
Europcar Groupe SA, 5.75%, 6/15/22 (144A) 1,560,000 $1,748,488
European Bank for Reconstruction & Development, 6.0%, 3/3/16 227,100,000 $3,596,261
Evolution Escrow Issuer LLC, 7.5%, 3/15/22 (144A) 4,635,000 $4,680,384
Evraz Inc NA Canada, 7.5%, 11/15/19 (144A) 2,300,000 $2,307,188
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 4,373,318 $4,384,251
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 6,800,000 $7,378,968
Far East Capital, Ltd. SA, 8.0%, 5/2/18 2,700,000 $1,650,300
Fiat Chrysler Automobiles NV, 4.5%, 4/15/20 (144A) 1,880,000 $1,923,710
FirstRand Bank, Ltd., 4.25%, 4/30/20 1,225,000 $1,253,630
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 3,370,000 $3,379,899
Flt% 15jun16 500,000 $482,450
FMG Resources August 2006 Pty, Ltd., 9.75%, 3/1/22 (144A) 1,600,000 $1,694,300
Ford Motor Co. 335,730 $5,093,024
FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A) 1,865,000 $72,271
FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A) 2,465,000 $240,047
Freeport-McMoRan, Inc. 45,168 $887,551
Fresnillo Plc, 5.5%, 11/13/23 (144A) 1,825,000 $1,971,177
Frontier Communications Corp., 7.125%, 1/15/23 5,200,000 $5,117,938
Frontier Communications Corp., 8.5%, 4/15/20 2,940,000 $3,177,038
Frontier Communications Corp., 8.75%, 4/15/22 10,345,000 $10,910,742
GCI, Inc., 6.75%, 6/1/21 500,000 $528,031
GCI, Inc., 6.875%, 4/15/25 4,275,000 $4,435,387
Geely Automobile Holdings, Ltd., 5.25%, 10/6/19 (144A) 2,700,000 $2,788,763
General Cable Corp., 4.5%, 11/15/29 (Step) 1,250,000 $1,010,938
General Cable Corp., 5.75%, 10/1/22 3,250,000 $3,004,377
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 480,146 $479,645
GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A) 3,260,000 $2,959,129
GMAC Capital Trust I, Floating Rate Note, 2/15/40 355,600 $9,266,936
Golar LNG, Ltd., 3.75%, 3/7/17 800,000 $984,984
Golar LNG Partners LP, Floating Rate Note, 10/12/17 13,000,000 $1,751,117
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 3,525,000 $2,871,632
Griffon Corp., 5.25%, 3/1/22 6,750,000 $6,871,359
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 1,740,000 $1,789,771
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 3,850,000 $3,497,912
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 1,500,000 $1,481,288
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 2,050,000 $2,193,500
Gulfport Energy Corp., 6.625%, 5/1/23 (144A) 1,755,000 $1,802,696
Gulfport Energy Corp., 7.75%, 11/1/20 4,990,000 $5,308,078
Halcon Resources Corp. 2,316,568 $2,432,396
Halcon Resources Corp., 8.875%, 5/15/21 3,910,000 $2,761,234
Hilcorp Energy I LP, 5.0%, 12/1/24 (144A) 3,790,000 $3,779,999
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 1,300,000 $861,138
Horizon Lines, Inc. 2,370,345 $1,701,908
IAC, 4.875%, 11/30/18 700,000 $741,563
Iap Worldwide Services Inc 63 $48,767
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 499,627 $464,653
Icon Health & Fitness, Inc., 11.875%, 10/15/16 (144A) 5,000,000 $5,105,469
Immucor, Inc., 11.125%, 8/15/19 3,200,000 $3,503,833
Indo Energy Finance II BV, 6.375%, 1/24/23 (144A) 1,900,000 $1,324,894
Indonesia Treasury Bond, 7.0%, 5/15/22 53,000,000,000 $3,774,876
Indonesia Treasury Bond, 8.25%, 6/15/32 40,352,000,000 $3,119,253
Ineos Finance Plc, 4.0%, 5/1/23 (144A) 7,225,000 $7,879,368
INEOS Group Holdings SA, 5.75%, 2/15/19 (144A) 4,325,000 $4,949,300
ING Groep NV, Floating Rate Note (Perpetual) 1,850,000 $1,841,572
Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A) 940,000 $1,008,254
Intelsat Luxembourg SA, 7.75%, 6/1/21 4,000,000 $3,764,139
Inter-American Development Bank, 4.5%, 2/4/16 11,650,000,000 $861,790
Inter-American Development Bank, 6.0%, 9/5/17 42,350,000 $686,740
Inter-American Development Bank, 7.25%, 7/17/17 5,140,000,000 $406,940
InterGen NV, 7.0%, 6/30/23 (144A) 1,300,000 $1,272,917
International Finance Corp., 7.75%, 12/3/16 241,840,000 $3,980,634
International Finance Corp., 8.25%, 6/10/21 240,670,000 $4,173,134
Inversiones Alsacia SA, 8.0%, 12/31/18 (144A) 5,992,701 $3,688,380
IRSA Inversiones y Representaciones SA, 8.5%, 2/2/17 (144A) 6,405,000 $6,589,855
IRSA Propiedades Comerciales SA, 7.875%, 5/11/17 (144A) 5,750,000 $5,690,725
James River Coal Co., 7.875%, 4/1/19 4,435,000 $592,211
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 2,980,000 $3,262,355
JBS Finance II, Ltd., 8.25%, 1/29/18 (144A) 4,690,000 $5,021,016
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 3,800,000 $4,109,621
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 2,020,000 $2,249,450
JBS USA LLC, 5.75%, 6/15/25 (144A) 3,135,000 $3,166,350
JB y Co SA de CV, 3.75%, 5/13/25 (144A) 800,000 $801,417
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 4,340,000 $4,002,294
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 2,100,000 $2,168,966
JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35 5,923,886 $2,028,020
Kane Flt% 12jun15 2,400,000 $2,398,320
Kane Flt% 14jul15 814,976 $809,027
Kane Ilw Zero% 02feb16 1,300,000 $1,233,570
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 2,375,100 $2,391,251
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,101,200 $1,104,944
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,093,300 $1,101,062
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,067,200 $1,072,216
Kane Zero% 15jan16 506,000 $509,846
Kane Zero% 19feb16 3,120,000 $3,317,496
Kane Zero% 22jan16 1,000,000 $1,020,700
Kane Zero% 22jan16 2,600,000 $2,645,240
Kane Zero% 29apr16 5,400,000 $5,631,120
KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A) 1,000,000 $920,167
KB Home, 1.375%, 2/1/19 4,640,000 $4,481,289
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 2,175,000 $2,302,147
Kenya Government International Bond, 6.875%, 6/24/24 (144A) 2,530,000 $2,723,650
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 1,000,000 $994,642
Kindred Healthcare, Inc., 6.375%, 4/15/22 2,400,000 $2,467,125
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 1,320,000 $1,474,770
KP Germany Erste GmbH, 11.625%, 7/15/17 (144A) 2,500,000 $3,085,938
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9,652,000 $9,741,498
LDK Solar Co, Ltd., 5.535%, 12/31/18 (PIK) 2,266,700 $600,814
LDK Solar Co, Ltd. (A.D.R.) 158,800 $20,882
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 12,652,000 $5,108,012
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 1,102,000 $437,631
Lennar Corp., 4.75%, 11/15/22 4,450,000 $4,419,870
Liberty Tire Recycling Llc 156,027 $1,560
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 3,992,000 $3,924,247
LifePoint Health, Inc., 5.5%, 12/1/21 4,300,000 $4,637,968
LKQ Corp., 4.75%, 5/15/23 1,250,000 $1,236,849
Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 1,034,769 $388,038
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 33,500 $83,750
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 2,800,000 $2,388,896
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 3,615,000 $3,502,182
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 12,248,000 $12,515,755
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 78,344 $1,632
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 3,225,000 $3,143,087
Memorial Production Partners LP, 7.625%, 5/1/21 3,000,000 $2,958,427
Memorial Resource Development Corp., 5.875%, 7/1/22 (144A) 1,525,000 $1,527,769
Mentor Graphics Corp., 4.0%, 4/1/31 1,025,000 $1,378,298
Mercer International, Inc., 7.0%, 12/1/19 2,025,000 $2,208,825
Meritor, Inc., 6.75%, 6/15/21 3,150,000 $3,365,578
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 4,150,000 $3,808,533
Metalloinvest Finance, Ltd., 6.5%, 7/21/16 (144A) 2,660,000 $2,741,773
Mexican Bonos, 7.5%, 6/3/27 1,800,000 $133,327
Mexican Udibonos, 2.0%, 6/9/22 43,638,000 $14,675,144
Mexican Udibonos, 3.5%, 12/14/17 1,720,000 $634,607
Mexico Government International Bond, 4.0%, 3/15/15 2,175,000 $2,264,778
MHP SA, 8.25%, 4/2/20 (144A) 6,300,000 $5,375,738
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 2,300,000 $1,160,909
Minerva Luxembourg SA, 12.25%, 2/10/22 (144A) 3,755,000 $4,271,052
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 13,800,000 $14,566,360
Mirabela Nickel, Ltd. 17,099,676 $1,636,866
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 3,545,787 $2,835,645
Mj Acquisition Corp 2nd Lien L + 8% 08apr23 2,790,000 $2,824,875
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 4,000,000 $4,013,733
MMM Holdings, Inc., MMM Term Loan, 12/12/17 780,441 $643,864
Mobile Telesystems OJSC via MTS International Funding, Ltd., 5.0%, 5/30/23 (144A) 1,500,000 $1,416,000
Monitronics International, Inc., Term B Loan (2013), 3/23/18 1,012,104 $1,015,267
Morgan Stanley, Floating Rate Note (Perpetual) 3,550,000 $3,602,170
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 1,675,000 $1,819,556
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 567,383 $468,091
NANA Development Corp., 9.5%, 3/15/19 (144A) 1,475,000 $1,430,443
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 2,524,500 $2,536,176
National Surgical Hospitals, Inc., Tranche B-2 Term Loan, 7/11/19 1,477,584 $1,486,819
National Surgical Hospitals Inc 1st Lien Tl-B L + 3.5% 15may22 1,333,333 $1,334,133
Nationstar Mortgage LLC, 6.5%, 6/1/22 4,870,000 $4,747,371
Nationstar Mortgage LLC, 6.5%, 7/1/21 3,000,000 $2,964,458
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 3,650,000 $3,552,692
NeuStar, Inc., 4.5%, 1/15/23 1,700,000 $1,524,688
Newhall Land Development LLC 161,215 $564,253
New World Resources NV, 4.0%, 10/7/20 (PIK) 237,096 $71,448
New World Resources NV, Floating Rate Note, 10/7/20 135,483 $58,040
New World Resources NV, Floating Rate Note, 10/7/20 101,612 $17,859
Nexteer Automotive Group, Ltd., 5.875%, 11/15/21 (144A) 1,462,000 $1,524,059
Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A) 8,875,000 $607,316
Novatek OAO via Novatek Finance, Ltd., 4.422%, 12/13/22 (144A) 2,350,000 $2,106,439
NRG Energy, Inc., 6.25%, 5/1/24 6,000,000 $6,165,208
Nuance Communications, Inc., 2.75%, 11/1/31 1,640,000 $1,647,733
Numericable-SFR SAS, 6.0%, 5/15/22 (144A) 1,250,000 $1,282,813
NuStar Logistics LP, Floating Rate Note, 1/15/43 12,438 $332,468
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 6,004,000 $1,498,648
Oasis Petroleum, Inc., 6.5%, 11/1/21 2,840,000 $2,876,171
Ormat Funding Corp., 8.25%, 12/30/20 10,665,000 $5,300,408
Outerwall, Inc., 5.875%, 6/15/21 (144A) 4,365,000 $4,209,724
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 992,325 $994,806
Pacific Rubiales Energy Corp., 5.375%, 1/26/19 (144A) 7,570,000 $6,981,538
Pangaea Zero% 01jul18 4,070,000 $4,506,304
Panolam Holdings Co. 894 $657,984
PDC Energy, Inc., 7.75%, 10/15/22 3,250,000 $3,508,984
Penn Virginia Corp., 6.0% (Perpetual) (144A) 16,300 $852,001
Penn Virginia Corp., 8.5%, 5/1/20 2,250,000 $2,141,656
Pesquera Exalmar S.A.A., 7.375%, 1/31/20 (144A) 6,500,000 $5,489,792
Petroleos Mexicanos, 7.19%, 9/12/24 (144A) 8,650,000 $553,333
Plantronics, Inc., 5.5%, 5/31/23 (144A) 1,315,000 $1,335,328
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 5,340,000 $5,139,750
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 1,375,000 $1,407,398
Post Holdings, Inc., 7.375%, 2/15/22 1,675,000 $1,750,108
PPL Capital Funding, Inc., 5.9%, 4/30/73 212,000 $5,454,760
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 1,560,000 $1,575,925
Pro Mach Group, Inc., Dollar Term Loan (First Lien), 10/20/21 538,421 $541,281
Province of Salta Argentina, 9.5%, 3/16/22 (144A) 3,600,000 $3,052,509
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 1,025,000 $1,078,770
Provincia de Buenos Aires Argentina, 11.75%, 10/5/15 (144A) 1,125,000 $1,153,633
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 9,820,000 $10,014,218
Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A) 47,000,000 $3,087,765
Rent-A-Center, Inc., 4.75%, 5/1/21 3,010,000 $2,645,267
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 750,000 $765,638
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,600,000 $1,854,631
Resolute Forest Products, Inc., 5.875%, 5/15/23 3,735,000 $3,454,680
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 2,400,000 $2,586,750
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 7,490,000 $7,666,327
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 3,785,000 $4,121,116
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 2,200,000 $2,381,072
Romania Government Bond, 5.85%, 4/26/23 18,580,000 $5,400,198
Romania Government Bond, 5.95%, 6/11/21 1,220,000 $368,210
Rosetta Resources, Inc., 5.875%, 6/1/22 6,995,000 $7,671,499
Rosetta Resources, Inc., 5.875%, 6/1/24 1,935,000 $2,143,906
Russian Federal Bond - OFZ, 7.0%, 8/16/23 49,399,000 $783,047
Russian Railways via RZD Capital Plc, 3.3744%, 5/20/21 1,325,000 $1,307,606
Rwanda International Government Bond, 6.625%, 5/2/23 (144A) 2,000,000 $2,035,706
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 4,000,000 $4,204,375
Sabre GLBL, Inc., 5.375%, 4/15/23 (144A) 2,540,000 $2,601,895
Sanchez Energy Corp., 6.125%, 1/15/23 3,765,000 $3,663,227
Sanchez Energy Corp., 7.75%, 6/15/21 1,500,000 $1,583,281
Sberbank of Russia Via SB Capital SA, 5.25%, 5/23/23 (144A) 750,000 $650,453
Scientific Games International, Inc., 10.0%, 12/1/22 17,000,000 $17,340,000
Scientific Games International, Inc., 6.25%, 9/1/20 625,000 $487,782
Seagate HDD Cayman, 4.75%, 6/1/23 6,925,000 $7,363,159
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 13,467 $96,121
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 950,000 $998,545
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 1,721 $233,596
Sector Re V, Ltd., 3/1/20 (Cat Bond) (144A) 1,100,000 $1,102,970
Sector Re V, Ltd., 3/1/20 (Cat Bond) (144A) 750,000 $753,675
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 1,500,000 $1,249,558
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 2,000,000 $78,000
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 1,800,000 $1,961,460
Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A) 805,000 $870,325
SM Energy Co., 5.0%, 1/15/24 455,000 $454,431
SM Energy Co., 6.5%, 1/1/23 1,650,000 $1,760,390
Sprint Corp., 7.25%, 9/15/21 3,000,000 $3,064,063
Standard Pacific Corp., 6.25%, 12/15/21 5,540,000 $6,058,798
Star Energy Geothermal Wayang Windu, Ltd., 6.125%, 3/27/20 (144A) 500,000 $501,524
Sterigenics-Nordion Holdings LLC, 6.5%, 5/15/23 (144A) 1,815,000 $1,833,528
SunEdison, Inc., 2.625%, 6/1/23 (144A) 2,140,000 $2,209,805
SunEdison, Inc., 3.375%, 6/1/25 (144A) 1,970,000 $2,077,616
SunPower Corp., 0.875%, 6/1/21 (144A) 2,290,000 $2,308,551
Suntech Power Holdings Co, Ltd., 0.0%, 6/30/15 535,000 $157,512
Swift Energy Co., 8.875%, 1/15/20 2,410,000 $1,200,858
Talen Energy Supply LLC, 5.125%, 7/15/19 (144A) 3,760,000 $3,804,063
Talen Energy Supply LLC, 6.5%, 6/1/25 (144A) 1,850,000 $1,891,431
Talos Production LLC, 9.75%, 2/15/18 (144A) 839,000 $778,424
TAM Capital 3, Inc., 8.375%, 6/3/21 (144A) 3,250,000 $3,494,326
TA MFG., Ltd., 3.625%, 4/15/23 (144A) 2,240,000 $2,495,522
Targa Resources Partners LP, 4.25%, 11/15/23 4,350,000 $4,194,578
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 6,395,000 $4,569,251
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 2,625,000 $2,679,943
Telenet Finance V Luxembourg SCA, 6.25%, 8/15/22 (144A) 1,600,000 $1,941,168
Tenet Healthcare Corporation 1st Lien Bridge L + 0% 01apr16 1,680,000 $1,680,000
Tenet Healthcare Corporation 1st Lien Bridge L + 4.25% 01apr16 560,000 $560,000
The Goldman Sachs Group, Inc., Floating Rate Note (Perpetual) 3,225,000 $3,234,753
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 2,555,000 $2,902,161
TIG FINCO Plc, 8.75%, 4/2/20 954,047 $1,486,774
TIG FINCO Plc, Floating Rate Note, 3/2/20 (144A) 168,361 $272,519
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 3,088,459 $3,098,111
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 4,315,000 $4,459,576
T-Mobile USA, Inc., 6.542%, 4/28/20 2,880,000 $3,109,450
T-Mobile USA, Inc., 6.633%, 4/28/21 1,940,000 $2,112,230
T-Mobile USA, Inc., 6.731%, 4/28/22 1,300,000 $1,414,154
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 1,625,000 $840,396
Top Co 132,750 $32,482
Trade & Development Bank of Mongolia LLC, 9.375%, 5/19/20 (144A) 1,355,000 $1,445,263
Trilogy Energy Corp., 7.25%, 12/13/19 (144A) 1,775,000 $1,432,385
UBS AG, 7.625%, 8/17/22 5,650,000 $6,852,190
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 1,850,000 $1,838,630
Unifin Financiera SAPI de CV SOFOM ENR, 6.25%, 7/22/19 (144A) 4,000,000 $4,058,889
Union Andina de Cementos SAA, 5.875%, 10/30/21 (144A) 820,000 $841,440
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 2,750,000 $2,764,845
Unit Corp., 6.625%, 5/15/21 3,765,000 $3,681,268
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 1,000,000 $1,012,160
United Group BV, 7.875%, 11/15/20 (144A) 5,000,000 $5,877,040
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A) 3,100,000 $3,244,247
Vanguard Natural Resources LLC, 7.875%, 4/1/20 1,245,000 $1,236,168
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 5,145,000 $5,268,587
VeriSign, Inc., 4.625%, 5/1/23 4,430,000 $4,391,130
VeriSign, Inc., 5.25%, 4/1/25 (144A) 1,470,000 $1,512,906
Vers 2015-A Zero% 31dec17 3,800,000 $3,940,220
Vertafore, Inc., Term Loan (Second Lien), 10/29/17 3,500,000 $3,552,500
Viasystems, Inc., 7.875%, 5/1/19 (144A) 4,750,000 $5,065,133
Videotron, Ltd., 5.375%, 6/15/24 (144A) 3,250,000 $3,451,940
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 2,860,000 $3,233,588
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 4,875,000 $5,026,380
VimpelCom Holdings BV, 9.0%, 2/13/18 (144A) 124,400,000 $2,238,624
Vimpel Communications Via VIP Finance Ireland, Ltd. OJSC, 7.748%, 2/2/21 (144A) 7,800,000 $8,183,341
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 1,605,000 $1,317,605
Vnesheconombank Via VEB Finance Plc, 6.902%, 7/9/20 (144A) 2,725,000 $2,785,039
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 1,075,000 $1,026,949
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 775,000 $818,328
WebMD Health Corp., 1.5%, 12/1/20 3,750,000 $4,171,044
WebMD Health Corp., 2.5%, 1/31/18 3,485,000 $3,607,701
WellCare Health Plans, Inc., 5.75%, 11/15/20 5,930,000 $6,252,035
Wells Fargo & Co., Floating Rate Note (Perpetual) 3,175,000 $3,403,523
WESCO Distribution, Inc., 5.375%, 12/15/21 4,365,000 $4,559,834
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 700,000 $310,287
Westgate Resorts 2014-A LLC, 6.25%, 10/20/26 (144A) 750,000 $614,318
Whiting Canadian Holding Co ULC, 8.125%, 12/1/19 5,215,000 $5,738,582
Whiting Petroleum Corp., 1.25%, 4/1/20 (144A) 2,585,000 $2,836,230
WideOpenWest Finance LLC, Replacement Term B Loan, 4/1/19 1,236,489 $1,238,422
Windstream Services LLC, 7.5%, 6/1/22 6,285,000 $5,969,441
Windstream Services LLC, 7.75%, 10/15/20 6,765,000 $6,940,467
WireCo WorldGroup, Inc., 9.5%, 5/15/17 1,100,000 $1,021,854
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 1,000,000 $979,688
Zambia Government International Bond, 5.375%, 9/20/22 (144A) 3,700,000 $3,433,420
ZF North America Capital, Inc., 4.5%, 4/29/22 (144A) 670,000 $684,321
ZF North America Capital, Inc., 4.75%, 4/29/25 (144A) 1,670,000 $1,676,831
Ziggo Bond Finance BV, 5.875%, 1/15/25 (144A) 1,075,000 $1,117,728

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