Pioneer Global High Yield Fund

Top 10 Portfolio Holdings as of 1/30/2015
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 3,900,000 $3,953,820
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 2,528,093 $2,452,250
Abengoa Finance SAU, 6.0%, 3/31/21 (144A) 640,000 $675,572
Abengoa Finance SAU, 8.875%, 11/1/17 (144A) 6,900,000 $7,173,844
Access Bank Plc, Floating Rate Note, 6/24/21 (144A) 3,485,000 $2,908,954
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 3,225,000 $3,589,873
Advanced Micro Devices, Inc., 6.75%, 3/1/19 5,070,000 $4,959,094
Advanced Micro Devices, Inc., 7.0%, 7/1/24 1,355,000 $1,190,142
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 1,029,744 $1,024,274
AEP Industries, Inc., 8.25%, 4/15/19 3,355,000 $3,470,049
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 3,775,000 $3,390,328
AES Corp. Virginia, 5.5%, 3/15/24 1,350,000 $1,381,425
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 2,176,542 $2,040,509
Agrokor dd, 8.875%, 2/1/20 (144A) 1,960,000 $2,208,087
Agrokor dd, 9.875%, 5/1/19 (144A) 3,200,000 $4,007,642
Aguila 3 SA, 7.875%, 1/31/18 (144A) 5,200,000 $5,327,888
Aircraft Finance Trust, Floating Rate Note, 5/15/24 11,396,000 $2,384,248
Akbank TAS, 7.5%, 2/5/18 (144A) 4,500,000 $1,834,229
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 995,000 $1,015,398
Alfa Bank OJSC Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A) 4,000,000 $3,493,727
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 1,034,255 $1,023,912
Alliance One International, Inc., 9.875%, 7/15/21 7,165,000 $6,014,221
Alliant Holdings I, Inc., Initial Term Loan, 12/20/19 1,847,452 $1,821,473
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 3,182 $3,171
Ally Financial, Inc., 7.0% (Perpetual) (144A) 3,100 $3,115,597
Alpha Natural Resources, Inc., 6.0%, 6/1/19 315,000 $88,200
Altice Financing SA, 6.5%, 1/15/22 (144A) 2,800,000 $2,864,089
Altice Financing SA, 6.625%, 2/15/23 (144A) 1,320,000 $1,320,000
Altice Finco SA, 8.125%, 1/15/24 (144A) 600,000 $624,667
Altice SA, 7.75%, 5/15/22 (144A) 2,025,000 $2,168,241
Alto Palermo SA, 7.875%, 5/11/17 (144A) 5,750,000 $5,563,125
Altrl Zero% 30jun16 3,314,020 $2,359,583
Altrl Zero% 30jun17 1,440,000 $1,446,912
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 1,155,000 $897,527
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 2,770,000 $1,840,896
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 4,400,000 $4,428,111
Amsurg Corp., 5.625%, 7/15/22 (144A) 2,555,000 $2,647,619
Aquarius + Investments Plc for Swiss Reinsurance Co, Ltd., Floating Rate Note, 9/1/24 1,900,000 $2,058,942
Arcos Dorados Holdings, Inc., 10.25%, 7/13/16 (144A) 4,250,000 $1,487,391
Arcos Dorados Holdings, Inc., 6.625%, 9/27/23 (144A) 887,000 $841,825
Ardagh Finance Holdings SA, 8.375%, 6/15/19 (144A) (PIK) 417,028 $466,801
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 3,089,777 $3,112,242
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 2,400,000 $422,906
Ardagh Packaging Finance Plc, 9.25%, 10/15/20 (144A) 2,100,000 $2,595,518
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 1,284,559 $1,287,369
ARIAD Pharmaceuticals, Inc., 3.625%, 6/15/19 (144A) 1,675,000 $1,660,774
Arlington Flt% 01aug15 1,450,000 $1,584,850
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 2,100,000 $2,200,100
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 6,210,000 $5,012,634
Banco de Galicia y Buenos Aires SA, 8.75%, 5/4/18 (144A) 5,050,000 $5,207,286
Banco Macro SA, Floating Rate Note, 12/18/36 820,000 $766,000
Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A) 2,000,000 $2,031,650
Banco Santander SA, Floating Rate Note (Perpetual) 2,400,000 $2,382,600
Bank of America Corp., Floating Rate Note, 10/23/49 2,050,000 $2,183,007
Bank of America Corp., Floating Rate Note, 9/29/49 3,900,000 $4,087,033
Banque Centrale de Tunisie SA, 5.75%, 1/30/25 (144A) 2,655,000 $2,695,249
BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A) 1,250,000 $1,441,334
Belden, Inc., 5.25%, 7/15/24 (144A) 1,000,000 $967,333
Belden, Inc., 5.5%, 4/15/23 (144A) 1,800,000 $2,162,310
Belvedere SA, 12/23/16 5,578,091 $251,962
Berau Capital Resources Pte, Ltd., 12.5%, 7/8/15 (144A) 11,063,000 $6,449,575
Berau Coal Energy Tbk PT, 7.25%, 3/13/17 (144A) 3,750,000 $1,922,969
Berkeley-Kane Flt% 12jun15 903,800 $938,054
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 417,670 $417,322
BioScrip, Inc., Initial Term B Loan, 7/31/20 696,116 $695,536
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 250,000 $251,634
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 475,000 $482,315
Boing Group Financing Plc, 6.625%, 7/15/19 (144A) 3,285,000 $3,416,301
Bombardier, Inc., 6.0%, 10/15/22 (144A) 243,000 $237,720
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 2,165,000 $1,885,339
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 1,270,000 $1,161,891
BreitBurn Energy Partners LP, 7.875%, 4/15/22 2,830,000 $1,876,821
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 2,100,000 $2,169,942
BTA Bank JSC (G.D.R.) (144A) 24,638 $14,019
Bumi Resources Tbk PT, Loan, 11/7/15 4,700,000 $1,598,000
C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A) 2,535,000 $2,522,043
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 1,860,000 $1,613,550
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 (144A) 4,025,000 $3,558,659
Cambium Learning Group, Inc., 9.75%, 2/15/17 4,225,000 $4,351,574
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 3,045,000 $3,425,282
Cardtronics, Inc., 5.125%, 8/1/22 (144A) 2,440,000 $2,442,567
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 2,000,000 $2,006,667
CCOH Safari LLC, 5.5%, 12/1/22 3,000,000 $3,068,750
CEDC Finance Corp International, Inc., 10.0%, 4/30/18 (PIK) 2,387,885 $1,851,274
CEDC Finance Corp International, Inc., 9.0%, 4/30/18 (Step) 4,829,992 $4,173,113
Cemex Finance LLC, 6.0%, 4/1/24 (144A) 600,000 $576,900
Cemex SAB de CV, 3.75%, 3/15/18 8,300,000 $9,413,583
Cengage Learning Holdings II LP 11,492 $259,145
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 $3,933,893
Chaparral Energy, Inc., 7.625%, 11/15/22 2,596,000 $1,547,468
Chiquita Brands International, Inc., 7.875%, 2/1/21 1,246,000 $1,411,537
CHS, 6.875%, 2/1/22 5,675,000 $6,222,638
Cia de Transporte de Energia Electrica en Alta Tension Transener SA, 9.75%, 8/15/21 (144A) 1,981,000 $1,599,575
Cincinnati Bell, Inc., 8.375%, 10/15/20 4,790,000 $5,156,601
Cirsa Funding Luxembourg SA, 8.75%, 5/15/18 (144A) 6,950,000 $8,229,041
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 1,523,000 $1,372,200
Citigroup, Inc., Floating Rate Note (Perpetual) 160,000 $4,336,000
Citigroup, Inc., Floating Rate Note (Perpetual) 2,150,000 $2,205,804
Citrix Systems, Inc., 0.5%, 4/15/19 (144A) 1,945,000 $2,013,507
City of Buenos Aires Argentina, 12.5%, 4/6/15 (144A) 5,200,000 $5,446,639
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 1,480,000 $1,411,334
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 455,000 $396,630
Cobalt International Energy, Inc., 2.625%, 12/1/19 5,335,000 $3,591,122
CommScope, Inc., 5.0%, 6/15/21 (144A) 1,475,000 $1,429,111
Comstock Resources, Inc., 7.75%, 4/1/19 4,240,000 $2,271,933
Comstock Resources, Inc., 9.5%, 6/15/20 2,000,000 $1,044,278
Constellation Enterprises LLC, 10.625%, 2/1/16 (144A) 5,075,000 $4,266,172
Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17 10,600,000 $1,303,100
ConvaTec Healthcare E SA, 10.5%, 12/15/18 (144A) 5,750,000 $6,143,971
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 4,750,000 $4,812,862
Corp Pesquera Inca SAC, 9.0%, 2/10/17 (144A) 9,720,000 $10,038,330
Cott Beverages, Inc., 5.375%, 7/1/22 (144A) 3,200,000 $2,886,333
Countrywide Asset-Backed Certificates, Floating Rate Note, 11/25/34 1,700,000 $1,249,919
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 1,502,000 $1,559,489
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 12/15/35 (144A) 9,000,000 $4,985,010
CWGS Group LLC, Term Loan, 2/20/20 5,947,500 $5,925,197
DAE Aviation Holdings, Inc., Replacement Tranche B-1 Loan, 11/2/18 3,705,066 $3,706,215
Denbury Resources, Inc., 5.5%, 5/1/22 3,695,000 $3,302,406
Desarrolladora Homex SAB de CV, 0.0%, 12/11/19 (144A) 9,802,000 $2,677,852
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 1,335,000 $1,317,044
DTEK Finance Plc, 7.875%, 4/4/18 (144A) 925,000 $394,379
Dycom Investments, Inc., 7.125%, 1/15/21 2,230,000 $2,326,262
DynCorp International, Inc., 10.375%, 7/1/17 2,433,000 $2,210,735
East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A) 750,000 $760,250
EC Finance Plc, 5.125%, 7/15/21 (144A) 3,695,000 $4,327,140
Ecuador Government International Bond, 7.95%, 6/20/24 (144A) 2,510,000 $2,244,076
Electricite de France SA, Floating Rate Note (Perpetual) (144A) 6,225,000 $6,538,066
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 500,000 $508,625
Empresa de Telecomunicaciones de Bogota, 7.0%, 1/17/23 (144A) 1,626,000,000 $643,364
Empresa Distribuidora Y Comercializadora Norte, 9.75%, 10/25/22 (144A) 811,000 $566,964
Empresa Electrica Angamos SA, 4.875%, 5/25/29 (144A) 1,830,000 $1,858,800
Empresas ICA SAB de CV, 8.9%, 2/4/21 (144A) 6,450,000 $4,919,791
Endo Finance LLC, 5.375%, 1/15/23 (144A) 6,165,000 $6,087,253
Enel S.p.A., Floating Rate Note, 9/24/73 (144A) 2,995,000 $3,640,776
Energy Transfer Equity LP, 5.875%, 1/15/24 2,790,000 $2,902,468
Energy Transfer Partners LP, Floating Rate Note, 11/1/66 950,000 $843,890
Energy XXI, Ltd., 3.0%, 12/15/18 4,430,000 $1,356,879
Entegris, Inc., 6.0%, 4/1/22 (144A) 2,500,000 $2,575,000
EP Energy LLC, 9.375%, 5/1/20 13,700,000 $14,123,844
EPL Oil & Gas, Inc., 8.25%, 2/15/18 4,980,000 $3,463,798
EQTY 2014-INNS Mortgage Trust, Floating Rate Note, 5/8/31 (144A) 1,175,000 $1,180,652
EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/9/19 (144A) 840,000 $827,397
Equinix, Inc., 5.375%, 1/1/22 1,600,000 $1,672,961
Equinix, Inc., 5.375%, 4/1/23 2,910,000 $3,071,263
European Bank for Reconstruction & Development, 6.0%, 3/3/16 52,600,000 $872,850
European Bank for Reconstruction & Development, 7.65%, 2/18/15 43,400,000 $751,344
Evraz Inc NA Canada, 7.5%, 11/15/19 (144A) 2,300,000 $2,012,500
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 4,373,318 $4,358,742
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 6,800,000 $7,407,750
Far East Capital, Ltd. SA, 8.0%, 5/2/18 (144A) 3,500,000 $1,294,222
Ferrexpo Finance Plc, 7.875%, 4/7/16 (144A) 5,296,000 $4,103,998
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 3,370,000 $3,384,744
Ford Motor Co. 335,730 $4,938,588
FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A) 1,865,000 $82,555
FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A) 2,465,000 $234,929
Freeport-McMoRan, Inc. 45,168 $759,274
Fresnillo Plc, 5.5%, 11/13/23 (144A) 1,825,000 $1,917,467
Frontier Communications Corp., 7.125%, 1/15/23 5,200,000 $5,411,467
Frontier Communications Corp., 8.5%, 4/15/20 2,940,000 $3,381,082
Frontier Communications Corp., 8.75%, 4/15/22 10,345,000 $12,008,102
Fts International Inc 1st Lien Term L + 4.75% 01apr21 0 $0
GCI, Inc., 6.75%, 6/1/21 500,000 $504,375
Geely Automobile Holdings, Ltd., 5.25%, 10/6/19 (144A) 2,700,000 $2,775,656
General Cable Corp., 4.5%, 11/15/29 (Step) 1,250,000 $801,719
General Cable Corp., 5.75%, 10/1/22 3,250,000 $2,694,792
Generic Drug Holdings, Inc., Closing Date Term Loan, 8/16/20 485,162 $483,646
Gentiva Health Services, Inc., 11.5%, 9/1/18 833,000 $922,895
Gentiva Health Services, Inc., Initial Term B Loan, 10/10/19 1,024,365 $1,025,485
GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A) 3,260,000 $2,474,492
Gibson Energy, Inc., 6.75%, 7/15/21 (144A) 1,230,000 $1,244,453
GMAC Capital Trust I, Floating Rate Note, 2/15/40 355,600 $9,352,280
Golar LNG, Ltd., 3.75%, 3/7/17 800,000 $768,763
Golar LNG Partners LP, Floating Rate Note, 10/12/17 12,000,000 $1,573,571
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 3,525,000 $3,163,602
Griffon Corp., 5.25%, 3/1/22 6,750,000 $6,627,656
Grifols Worldwide Operations, Ltd., 5.25%, 4/1/22 (144A) 1,740,000 $1,796,550
Grupo Famsa SAB de CV, 7.25%, 6/1/20 (144A) 3,850,000 $3,627,021
Guanay Finance, Ltd., 6.0%, 12/15/20 (144A) 2,050,000 $2,142,592
Gulfport Energy Corp., 7.75%, 11/1/20 4,990,000 $5,049,256
Halcon Resources Corp., 8.875%, 5/15/21 7,825,000 $5,350,235
Heckler & Koch GmbH, 9.5%, 5/15/18 (144A) 4,700,000 $4,014,875
Hilcorp Energy I LP, 5.0%, 12/1/24 (144A) 3,790,000 $3,442,583
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 1,300,000 $882,753
Horizon Lines, Inc. 2,370,345 $1,493,317
IAC, 4.875%, 11/30/18 700,000 $725,032
Iap Worldwide Services Inc 63 $48,138
Iap Worldwide Services Inc 2nd Lien Tl L + 6.5% 18jul19 500,885 $445,788
Icon Health & Fitness, Inc., 11.875%, 10/15/16 (144A) 5,000,000 $5,074,826
Immucor, Inc., 11.125%, 8/15/19 3,200,000 $3,604,156
Indo Energy Finance II BV, 6.375%, 1/24/23 (144A) 1,900,000 $1,246,855
Indonesia Treasury Bond, 7.0%, 5/15/22 53,000,000,000 $4,269,155
Indonesia Treasury Bond, 8.25%, 6/15/32 40,352,000,000 $3,470,519
INEOS Group Holdings SA, 5.75%, 2/15/19 (144A) 4,325,000 $4,917,230
Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A) 940,000 $997,685
Intelsat Jackson Holdings SA, 6.625%, 12/15/22 4,300,000 $4,443,901
Intelsat Luxembourg SA, 7.75%, 6/1/21 4,000,000 $4,016,667
Inter-American Development Bank, 4.5%, 2/4/16 11,650,000,000 $936,839
Inter-American Development Bank, 6.0%, 9/5/17 42,350,000 $714,893
Inter-American Development Bank, 7.25%, 7/17/17 5,140,000,000 $422,542
InterGen NV, 7.0%, 6/30/23 (144A) 1,500,000 $1,411,542
International Finance Corp., 7.75%, 12/3/16 241,840,000 $4,109,491
International Finance Corp., 8.25%, 6/10/21 240,670,000 $4,512,513
Inversiones Alsacia SA, 8.0%, 12/31/18 (144A) 5,992,701 $4,378,745
IRSA Inversiones y Representaciones SA, 8.5%, 2/2/17 (144A) 6,405,000 $6,547,600
James River Coal Co., 7.875%, 4/1/19 4,435,000 $471,219
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 2,980,000 $3,292,900
JBS Finance II, Ltd., 8.25%, 1/29/18 (144A) 4,690,000 $4,857,988
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 4,800,000 $4,880,467
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 3,720,000 $3,904,962
JLL, 7.5%, 2/1/22 (144A) 4,755,000 $4,992,750
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 4,340,000 $3,726,613
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 2,100,000 $2,156,206
JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35 5,923,886 $2,114,002
Jupiter Resources, Inc., 8.5%, 10/1/22 (144A) 3,135,000 $2,449,698
Kane Flt% 12jun15 2,400,000 $2,300,160
Kane Flt% 14jul15 814,976 $795,009
Kane Flt% 30jul16 1,006,000 $1,098,653
Kane Ilw Zero% 02feb16 1,300,000 $1,197,040
Kane-Pi2 Zero% 18jul16 1,806,000 $2,035,362
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,067,200 $1,067,734
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 2,375,100 $2,377,475
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,093,300 $1,094,065
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,101,200 $1,101,530
Kane Zero% 15jan16 506,000 $506,759
Kane Zero% 19feb16 3,120,000 $3,168,048
Kane Zero% 22jan16 1,000,000 $1,007,600
Kane Zero% 22jan16 2,600,000 $2,613,780
Kane Zero% 22jan17 5,400,000 $5,497,200
KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A) 1,000,000 $886,182
KB Home, 1.375%, 2/1/19 4,640,000 $4,347,100
Kenya Government International Bond, 5.875%, 6/24/19 (144A) 2,175,000 $2,188,133
Kenya Government International Bond, 6.875%, 6/24/24 (144A) 2,886,000 $3,021,651
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 1,000,000 $1,001,825
Kindred Healthcare, Inc., 6.375%, 4/15/22 2,400,000 $2,355,050
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 1,320,000 $1,413,397
Kindred Healthcare Inc Bridge L + 6% 09oct15 5,960,000 $5,960,000
Kodiak Oil & Gas Corp., 8.125%, 12/1/19 5,215,000 $5,376,882
KP Germany Erste GmbH, 11.625%, 7/15/17 (144A) 2,500,000 $3,080,894
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9,652,000 $9,368,070
LDK Solar Co, Ltd., 5.535%, 12/31/18 (PIK) 2,266,700 $15,334
LDK Solar Co, Ltd. (A.D.R.) 158,800 $13,959
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 12,652,000 $5,079,755
Lease Investment Flight Trust, Floating Rate Note, 7/15/31 1,102,000 $442,464
Lennar Corp., 4.75%, 11/15/22 4,450,000 $4,467,924
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 5,080,000 $4,250,267
LifePoint Hospitals, Inc., 5.5%, 12/1/21 4,300,000 $4,559,792
Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A) 595,000 $363,322
LKQ Corp., 4.75%, 5/15/23 1,250,000 $1,228,160
Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 792,928 $269,596
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 33,500 $3,839,100
Magnesita Finance, Ltd., 8.625% (Perpetual) (144A) 2,800,000 $2,481,442
Marfrig Holding Europe BV, 6.875%, 6/24/19 (144A) 3,615,000 $3,161,556
Marfrig Overseas, Ltd., 9.5%, 5/4/20 (144A) 12,248,000 $11,717,764
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 75,878 $2,037
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 3,225,000 $2,860,732
Memorial Production Partners LP, 7.625%, 5/1/21 3,000,000 $2,749,688
Memorial Resource Development Corp., 5.875%, 7/1/22 (144A) 1,525,000 $1,395,216
Mentor Graphics Corp., 4.0%, 4/1/31 1,025,000 $1,254,557
Mercer International, Inc., 7.0%, 12/1/19 (144A) 2,025,000 $2,091,094
Meritor, Inc., 6.75%, 6/15/21 3,150,000 $3,295,294
Metalloinvest Finance, Ltd., 5.625%, 4/17/20 (144A) 2,525,000 $1,952,759
Metalloinvest Finance, Ltd., 6.5%, 7/21/16 (144A) 2,660,000 $2,518,503
Metinvest BV, 8.75%, 2/14/18 (144A) 8,350,000 $4,096,429
Mexican Bonos, 7.5%, 6/3/27 1,800,000 $143,456
Mexican Udibonos, 2.0%, 6/9/22 44,000,000 $15,411,936
Mexican Udibonos, 3.5%, 12/14/17 2,050,000 $777,296
MHP SA, 8.25%, 4/2/20 (144A) 6,300,000 $4,047,106
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 2,800,000 $1,492,167
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 10,175,000 $3,296,559
Minerva Luxembourg SA, 12.25%, 2/10/22 (144A) 3,755,000 $4,382,789
Minerva Luxembourg SA, 7.75%, 1/31/23 (144A) 15,300,000 $15,322,419
Mirabela Nickel, Ltd. 27,099,676 $611,462
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 3,545,787 $2,901,586
MMC Norilsk Nickel OJSC via MMC Finance, Ltd., 5.55%, 10/28/20 (144A) 4,000,000 $3,548,150
MMM Holdings, Inc., MMM Term Loan, 12/12/17 804,800 $780,656
Monitronics International, Inc., Term B Loan (2013), 3/23/18 2,251,630 $2,245,062
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 1,675,000 $1,860,146
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 585,099 $579,248
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 2,150,000 $2,258,790
NANA Development Corp., 9.5%, 3/15/19 (144A) 1,475,000 $1,350,936
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 2,530,875 $2,499,239
National Surgical Hospitals, Inc., Tranche B-2 Term Loan, 7/11/19 1,481,306 $1,473,900
Nationstar Mortgage LLC, 6.5%, 6/1/22 4,870,000 $4,240,958
Nationstar Mortgage LLC, 6.5%, 7/1/21 3,000,000 $2,611,250
Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A) 3,650,000 $3,551,906
Navistar International Corp., 8.25%, 11/1/21 8,405,000 $8,378,734
NeuStar, Inc., 4.5%, 1/15/23 1,700,000 $1,490,900
Newhall Land Development LLC 161,215 $574,328
New World Resources NV, 4.0%, 10/7/20 (PIK) 237,096 $109,975
New World Resources NV, Floating Rate Note, 10/7/20 101,612 $18,359
New World Resources NV, Floating Rate Note, 10/7/20 135,483 $59,668
Nexteer Automotive Group, Ltd., 5.875%, 11/15/21 (144A) 1,462,000 $1,480,610
Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A) 8,875,000 $1,196,705
NRG Energy, Inc., 6.25%, 5/1/24 (144A) 7,100,000 $7,193,188
Nuance Communications, Inc., 2.75%, 11/1/31 3,140,000 $3,120,375
Numericable-SFR, 6.0%, 5/15/22 (144A) 1,250,000 $1,313,208
NuStar Logistics LP, Floating Rate Note, 1/15/43 114,817 $2,990,983
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 8,764,000 $1,300,359
Oasis Petroleum, Inc., 6.5%, 11/1/21 2,840,000 $2,637,650
Old AII, Inc., 0.0%, 12/15/16 6,510,000 $2,036,248
Ormat Funding Corp., 8.25%, 12/30/20 10,665,000 $5,113,046
Outerwall, Inc., 5.875%, 6/15/21 (144A) 3,205,000 $3,004,710
Ozburn-Hessey Holding Co LLC, Term Loan, 5/23/19 994,850 $996,094
Pacific Rubiales Energy Corp., 5.375%, 1/26/19 (144A) 7,570,000 $4,982,926
Pangaea Zero% 01jul18 4,070,000 $4,367,110
Panolam Holdings Co. 894 $657,984
Penn Virginia Corp., 6.0% (Perpetual) (144A) 16,300 $959,663
PERSEUS HOLDING Corp., 0.0%, 12/31/49 (Perpetual) 33,046 $0
Perseus Holding Corp., 14.0%, 3/31/15 17,350 $0
Pesquera Exalmar S.A.A., 7.375%, 1/31/20 (144A) 6,500,000 $5,254,144
Petroleos Mexicanos, 7.19%, 9/12/24 (144A) 8,650,000 $612,208
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 5,340,000 $5,140,640
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 1,375,000 $1,359,531
Post Holdings, Inc., 7.375%, 2/15/22 1,675,000 $1,761,274
PPL Capital Funding, Inc., 5.9%, 4/30/73 212,000 $5,406,000
Prince Mineral Holding Corp., 12.0%, 12/15/19 (144A) 1,560,000 $1,616,117
Pro Mach Group, Inc., Dollar Term Loan (First Lien), 10/20/21 539,770 $541,119
Province of Salta Argentina, 9.5%, 3/16/22 (144A) 3,600,000 $2,953,726
Provincia de Buenos Aires Argentina, 10.875%, 1/26/21 (144A) 1,025,000 $984,523
Provincia de Buenos Aires Argentina, 11.75%, 10/5/15 (144A) 1,125,000 $1,156,344
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 2,000,000 $2,027,283
Queen Street VI Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 300,000 $305,906
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 900,000 $914,833
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 9,820,000 $9,803,633
Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A) 47,000,000 $3,095,249
ReneSola, Ltd., 4.125%, 3/15/18 (144A) 10,750,000 $6,080,021
Rent-A-Center, Inc., 4.75%, 5/1/21 2,710,000 $2,349,231
Republic of Ghana, 7.875%, 8/7/23 (144A) 2,335,000 $2,132,001
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 750,000 $776,438
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,600,000 $1,888,658
Resolute Forest Products, Inc., 5.875%, 5/15/23 3,735,000 $3,613,249
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 2,400,000 $2,530,300
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 7,490,000 $7,774,204
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 3,785,000 $4,193,911
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 2,200,000 $2,258,667
Romania Government Bond, 5.85%, 4/26/23 24,770,000 $8,088,369
Romania Government Bond, 5.95%, 6/11/21 1,220,000 $388,189
Rosetta Resources, Inc., 5.875%, 6/1/22 6,995,000 $6,643,793
Rosetta Resources, Inc., 5.875%, 6/1/24 1,935,000 $1,784,634
Russian Agricultural Bank OJSC Via RSHB Capital SA, 8.5%, 10/16/23 (144A) 1,475,000 $1,024,484
Rwanda International Government Bond, 6.625%, 5/2/23 (144A) 2,000,000 $2,032,757
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 4,000,000 $4,117,500
Salix Pharmaceuticals, Ltd., 6.0%, 1/15/21 (144A) 1,320,000 $1,409,320
Sanchez Energy Corp., 6.125%, 1/15/23 (144A) 3,765,000 $3,342,274
Sanchez Energy Corp., 7.75%, 6/15/21 1,500,000 $1,469,854
Scientific Games International, Inc., 10.0%, 12/1/22 (144A) 17,000,000 $15,928,056
Scientific Games International, Inc., 6.25%, 9/1/20 625,000 $453,776
Scitor Corp., Term Loan, 2/15/17 2,177,194 $2,160,865
Seagate HDD Cayman, 4.75%, 6/1/23 6,925,000 $7,442,918
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 13,467 $568,457
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 950,000 $961,875
Sector Re V, Ltd., 0.0%, 3/1/18 (Cat Bond) (144A) 3,533 $89,999
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 1,000,000 $1,181,300
Security National Mortgage Loan Trust 2007-1, Floating Rate Note, 4/25/37 (144A) 1,500,000 $1,456,536
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 2,000,000 $275,400
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 1,800,000 $1,830,960
Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A) 8,535,000 $8,963,572
SM Energy Co., 6.5%, 1/1/23 1,650,000 $1,625,938
Sprint Corp., 7.25%, 9/15/21 1,800,000 $1,846,600
Standard Aero, Ltd., Replacement Tranche B-2 Loan, 11/2/18 1,679,609 $1,678,210
Standard Pacific Corp., 6.25%, 12/15/21 5,810,000 $5,972,599
Stone Energy Corp., 7.5%, 11/15/22 3,800,000 $3,366,167
SunPower Corp., 0.875%, 6/1/21 (144A) 2,290,000 $2,004,227
Suntech Power Holdings Co, Ltd., 0.0%, 3/31/15 535,000 $162,488
Swift Energy Co., 8.875%, 1/15/20 2,410,000 $853,006
Talos Production LLC, 9.75%, 2/15/18 (144A) 3,020,000 $2,732,974
TAM Capital 3, Inc., 8.375%, 6/3/21 (144A) 3,250,000 $3,418,977
Targa Resources Partners LP, 4.25%, 11/15/23 4,350,000 $4,106,279
Tarjeta Naranja SA, 9.0%, 1/28/17 (144A) 8,395,000 $5,573,475
Telenet Finance V Luxembourg SCA, 6.25%, 8/15/22 (144A) 1,600,000 $2,009,127
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 1,000,000 $1,097,278
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 13,430,000 $15,296,233
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 3,096,239 $3,087,046
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 4,315,000 $4,536,966
T-Mobile USA, Inc., 6.542%, 4/28/20 2,880,000 $2,985,077
T-Mobile USA, Inc., 6.633%, 4/28/21 1,940,000 $2,015,277
T-Mobile USA, Inc., 6.731%, 4/28/22 1,300,000 $1,347,854
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 4,400,000 $2,317,914
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 1,625,000 $1,222,745
Towergate Finance Plc, 10.5%, 2/15/19 (144A) 4,840,000 $1,246,311
Towergate Finance Plc, 8.5%, 2/15/18 (144A) 405,000 $561,608
Towergate Finance Plc, Floating Rate Note, 2/15/18 (144A) 1,200,000 $1,618,748
Transportadora de Gas del Sur SA, 9.625%, 5/14/20 (144A) 6,917,602 $5,191,246
Trilogy Energy Corp., 7.25%, 12/13/19 (144A) 1,775,000 $1,302,368
Trust F, 5.25%, 12/15/24 (144A) 2,565,000 $2,719,434
UBS AG, 7.625%, 8/17/22 5,650,000 $6,940,302
Ukraine Government International Bond, 6.75%, 11/14/17 (144A) 575,000 $306,727
Ukraine Government International Bond, 7.8%, 11/28/22 (144A) 1,650,000 $847,721
Ultra Petroleum Corp., 5.75%, 12/15/18 (144A) 1,850,000 $1,706,342
Unifin Financiera SAPI de CV SOFOM ENR, 6.25%, 7/22/19 (144A) 4,000,000 $3,486,250
Union Andina de Cementos SAA, 5.875%, 10/30/21 (144A) 820,000 $823,978
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 2,750,000 $2,736,775
Unit Corp., 6.625%, 5/15/21 3,765,000 $3,591,758
United Auto Credit Securitization Trust 2013-1, 4.4%, 4/15/19 (144A) 1,000,000 $1,014,773
United Continental Holdings, Inc., 6.0%, 7/15/26 3,500,000 $3,408,708
Vanguard Natural Resources LLC, 7.875%, 4/1/20 1,245,000 $1,115,831
Vedanta Resources Plc, 8.25%, 6/7/21 (144A) 8,263,000 $7,586,755
VeriSign, Inc., 4.625%, 5/1/23 4,430,000 $4,453,534
Vers 2015-A Zero% 31dec17 3,800,000 $3,829,640
Vertafore, Inc., Term Loan (Second Lien), 10/29/17 3,500,000 $3,520,416
Viasystems, Inc., 7.875%, 5/1/19 (144A) 4,750,000 $5,110,703
Videotron, Ltd., 5.375%, 6/15/24 (144A) 3,250,000 $3,353,571
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 2,860,000 $3,203,279
VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A) 4,875,000 $4,203,946
VimpelCom Holdings BV, 9.0%, 2/13/18 (144A) 38,400,000 $467,148
Vimpel Communications Via VIP Finance Ireland, Ltd. OJSC, 7.748%, 2/2/21 (144A) 7,800,000 $6,930,493
Virtual Radiologic Corp., Term Loan A, 12/22/16 1,068,372 $854,697
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 1,605,000 $1,372,877
VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A) 1,075,000 $725,709
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 775,000 $810,328
WebMD Health Corp., 1.5%, 12/1/20 3,750,000 $3,752,745
WebMD Health Corp., 2.5%, 1/31/18 3,485,000 $3,491,776
WellCare Health Plans, Inc., 5.75%, 11/15/20 4,620,000 $4,849,332
Wells Enterprises, Inc., 6.75%, 2/1/20 (144A) 1,144,000 $1,205,490
Wells Fargo & Co., Floating Rate Note (Perpetual) 3,175,000 $3,322,020
WESCO Distribution, Inc., 5.375%, 12/15/21 4,365,000 $4,427,717
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 700,000 $364,096
Westgate Resorts 2014-A LLC, 6.25%, 10/20/26 (144A) 750,000 $668,128
WideOpenWest Finance LLC, Term B Loan, 4/1/19 1,343,073 $1,336,693
Windstream Corp., 7.5%, 6/1/22 6,285,000 $6,347,850
Windstream Corp., 7.75%, 10/1/21 2,300,000 $2,393,917
Windstream Corp., 7.75%, 10/15/20 6,765,000 $7,173,061
Windstream Corp., 8.125%, 9/1/18 5,700,000 $6,135,219
WireCo WorldGroup, Inc., 9.5%, 5/15/17 1,100,000 $1,111,061
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 1,000,000 $921,125
Ziggo Bond Finance BV, 5.875%, 1/15/25 (144A) 1,075,000 $1,096,851

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