Pioneer Multi-Asset Income Fund

Top 10 Portfolio Holdings as of 6/30/2015
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 1,200,000 $1,269,720
17079z Zero% 31mar18 1,000,000 $1,016,700
A10 Securitization 2013-1 LLC, 4.7%, 11/17/25 (144A) 100,000 $100,322
A10 Securitization 2013-1 LLC, 6.41%, 11/17/25 (144A) 100,000 $100,343
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 1,006,078 $1,053,867
AbbVie, Inc. 83,726 $5,625,550
Aberdeen Asset Management Plc 242,155 $1,537,431
Abu Dhabi Commercial Bank PJSC 6,732,863 $14,005,198
ACE Securities Corp Manufactured Housing Trust Series 2003-MH1, Floating Rate Note, 8/15/30 (144A) 50,000 $2,913
Advanced Micro Devices, Inc., 6.75%, 3/1/19 395,000 $367,350
Advanced Micro Devices, Inc., 7.0%, 7/1/24 2,600,000 $2,288,000
Advanced Micro Devices, Inc., 7.5%, 8/15/22 835,000 $760,546
Advanced Semiconductor Engineering, Inc. 1,273,000 $1,706,751
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 176,000 $146,220
AES Corp. Virginia, 5.5%, 4/15/25 2,500,000 $2,407,465
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 1,260,000 $1,351,980
Alliance One International, Inc., 9.875%, 7/15/21 3,300,000 $3,037,765
Allianz SE 77,934 $12,129,327
Alpha Natural Resources, Inc., 6.0%, 6/1/19 950,000 $66,500
alstria office REIT-AG 118,954 $1,530,771
Altice Finco SA, 8.125%, 1/15/24 (144A) 200,000 $209,493
Altrl Zero% 30jun16 187,586 $109,288
American Airlines Group, Inc. 141,922 $5,667,655
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 2,250,000 $2,068,125
Apollo Commercial Real Estate Finance, Inc., 5.5%, 3/15/19 595,000 $600,173
Apollo Investment Corp. 2,256,587 $15,976,636
Apple, Inc. 85,746 $10,754,692
Approach Resources, Inc., 7.0%, 6/15/21 1,580,000 $1,426,916
Appvion, Inc., 9.0%, 6/1/20 (144A) 435,000 $277,313
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 1,306,630 $1,411,390
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 1,000,000 $1,050,813
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 182,576 $183,185
Ares Capital Corp. 295,316 $4,860,901
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 1,550,000 $1,659,517
Ascentium Equipment Receivables 2015-1 LLC, 5.92%, 6/12/23 (144A) 800,000 $805,243
A Schulman, Inc., 6.875%, 6/1/23 (144A) 1,695,000 $1,740,229
A Schulman Inc Bridge L + 0% 27mar16 2,955,000 $2,955,000
Asustek Computer, Inc. 197,000 $1,915,559
Audatex North America, Inc., 6.125%, 11/1/23 (144A) 1,700,000 $1,764,104
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 465,000 $395,928
Avance Gas Holding, Ltd. 972,043 $17,524,637
Axiall Corp., 4.875%, 5/15/23 2,145,000 $2,083,287
Axis Equipment Finance Receivables III LLC, 5.27%, 5/20/20 (144A) 500,000 $498,468
Bank of America Corp., Floating Rate Note, 10/23/49 1,675,000 $1,754,190
Bank of America Corp., Floating Rate Note, 9/29/49 1,950,000 $1,980,749
Bankrate, Inc., 6.125%, 8/15/18 (144A) 1,245,000 $1,236,458
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/37 (Step) 321,166 $9,389
Bayview Opportunity Master Fund IIa Trust 2014-20NPL, 3.475%, 8/28/44 (Step) (144A) 450,000 $326,847
Bayview Opportunity Master Fund Trust 2014-15RPL, Floating Rate Note, 10/28/19 (144A) 2,250,000 $1,775,026
Bcbcn 5.375% 01jul22 2,685,000 $2,608,058
Bear Stearns Asset Backed Securities Trust, 8.41%, 10/25/29 (Step) 2,500,000 $57,547
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 200,000 $208,280
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 100,000 $100,408
Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, Floating Rate Note, 10/12/42 1,500,000 $1,505,925
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 767,493 $780,173
Belle International Holdings, Ltd. 1,705,000 $1,962,840
Berry Petroleum Co LLC, 6.375%, 9/15/22 700,000 $559,140
Bios 8.875% 15feb21 1,555,000 $1,373,886
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 44,551 $44,254
BioScrip, Inc., Initial Term B Loan, 7/31/20 89,103 $88,509
BlackRock MuniVest Fund, Inc. 671,115 $6,402,437
BlackRock MuniYield Fund, Inc. 463,299 $6,412,058
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 250,000 $249,667
Bombardier Recreational Products, Inc., Term B Loan, 1/30/19 113,143 $113,234
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 935,000 $861,564
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 1,185,000 $1,139,674
BreitBurn Energy Partners LP, 7.875%, 4/15/22 430,000 $364,049
Bridgestone Corp. 181,500 $6,709,872
Britvic Plc 578,931 $6,542,760
Builders Firstsource Inc Bridge L + 7.5% 13apr16 4,485,000 $4,485,000
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 250,000 $248,554
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/20 (Cat Bond) (144A) 500,000 $510,253
Caleres, Inc., 7.125%, 5/15/19 300,000 $314,431
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 3,550,000 $3,545,464
Calumet Specialty Products Partners LP, 7.625%, 1/15/22 170,000 $179,377
Calumet Specialty Products Partners LP, 7.75%, 4/15/23 (144A) 1,275,000 $1,335,864
Cambium Learning Group, Inc., 9.75%, 2/15/17 100,000 $104,683
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 100,000 $111,680
Cardinal Health, Inc. 67,629 $5,657,166
Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 2,695,000 $2,731,214
CCO Holdings LLC, 5.75%, 1/15/24 165,000 $170,200
CCO Holdings LLC, 5.75%, 9/1/23 1,440,000 $1,470,300
Ceb 5.625% 15jun23 144a 2,065,000 $2,082,423
CenturyLink, Inc., 5.8%, 3/15/22 200,000 $194,416
CenturyLink, Inc., 6.45%, 6/15/21 700,000 $707,257
CenturyLink, Inc., 6.75%, 12/1/23 1,325,000 $1,336,594
CenturyLink, Inc., 7.6%, 9/15/39 450,000 $417,883
Cenveo Corp., 6.0%, 8/1/19 (144A) 2,090,000 $2,016,850
CEVA GROUP Plc 22 $16,710
CEVA GROUP Plc, 0.0%, 12/31/14 49 $36,170
Chaparral Energy, Inc., 7.625%, 11/15/22 2,325,000 $1,696,653
Charter Communications Operating L 1st Lien Bridge L + 6.625% 26may16 4,820,000 $4,820,000
Chevron Lubricants Lanka Plc 275,692 $757,774
Chiquita Brands International, Inc., 7.875%, 2/1/21 214,000 $237,607
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 130,000 $14,888
CHS, 6.875%, 2/1/22 2,540,000 $2,752,460
CHS, 8.0%, 11/15/19 1,065,000 $1,133,130
Citigroup, Inc., Floating Rate Note (Perpetual) 37,000 $1,012,690
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 50,000 $51,635
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 1,950,000 $1,883,416
Cobalt International Energy, Inc., 2.625%, 12/1/19 1,300,000 $962,406
CoBank ACB, Floating Rate Note (Perpetual) (144A) 1,000 $103,031
Comcast Corp., 4.75%, 3/1/44 1,625,000 $1,675,338
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 150,000 $150,371
Commercial Metals Co., 4.875%, 5/15/23 745,000 $704,941
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 350,000 $364,569
CommScope Holding Co, Inc., 6.625%, 6/1/20 (144A) (PIK) 570,000 $594,522
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 1,190,000 $1,189,504
Compass Re II, Ltd., Floating Rate Note, 12/8/15 (Cat Bond) (144A) 500,000 $476,200
Comstock Resources, Inc., 7.75%, 4/1/19 1,110,000 $487,706
Constellis Holdings LLC, 9.75%, 5/15/20 (144A) 4,390,000 $4,295,798
Contact Energy, Ltd. 189,667 $644,011
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 865,000 $911,223
Corpbanca SA 300,698,216 $3,323,284
Corsicanto, Ltd., 3.5%, 1/15/32 250,000 $272,785
Countrywide Asset-Backed Certificates, 5.06661%, 1/25/36 (Step) 205,000 $207,678
Countrywide Asset-Backed Certificates, Floating Rate Note, 1/25/36 130,000 $53,954
Coveris Holding Corp., 10.0%, 6/1/18 (144A) 200,000 $211,667
Coveris Holdings SA, 7.875%, 11/1/19 (144A) 2,800,000 $2,822,750
Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 6/25/33 100,000 $18,408
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 100,000 $102,557
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 855,000 $859,341
Credit Suisse Group AG 331,672 $9,112,043
Crestwood Midstream Partners LP, 6.125%, 3/1/22 385,000 $400,560
CVS Health Corp. 30,570 $3,206,182
Daimler AG 56,423 $5,131,412
Darling Ingredients, Inc., 5.375%, 1/15/22 455,000 $466,277
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 100,000 $111,114
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 300,000 $239,700
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 200,000 $200,521
Del Monte Foods, Inc., Initial Loan (Second Lien), 5/26/21 700,000 $640,063
Denbury Resources, Inc., 4.625%, 7/15/23 1,250,000 $1,076,658
Denbury Resources, Inc., 5.5%, 5/1/22 1,125,000 $1,014,375
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 1,280,000 $1,280,800
DISH DBS Corp., 5.875%, 11/15/24 1,720,000 $1,665,187
Doha Bank QSC 124,968 $1,824,782
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 1,710,000 $1,747,763
DriveTime Automotive Group, Inc., 8.0%, 6/1/21 (144A) 4,130,000 $3,971,683
DynCorp International, Inc., 10.375%, 7/1/17 1,885,000 $1,454,984
easyJet Plc 232,555 $5,650,603
Eaton Corp Plc 125,136 $8,445,429
eBay, Inc. 73,699 $4,439,628
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/7/17 (Cat Bond) (144A) 275,000 $277,203
Endo Finance LLC, 5.375%, 1/15/23 (144A) 1,255,000 $1,270,417
Endo Finance LLC, 5.75%, 1/15/22 (144A) 1,260,000 $1,309,158
Endp 6% 15jul23 144a 2,885,000 $2,949,913
Energizer SpinCo, Inc., 5.5%, 6/15/25 (144A) 1,205,000 $1,195,460
Energy Transfer Equity LP, 5.875%, 1/15/24 980,000 $1,042,808
Energy XXI, Ltd., 3.0%, 12/15/18 3,330,000 $786,990
EnerSys, 5.0%, 4/30/23 (144A) 1,210,000 $1,208,190
Entegris, Inc., 6.0%, 4/1/22 (144A) 2,100,000 $2,189,250
EP Energy LLC, 6.375%, 6/15/23 (144A) 2,465,000 $2,485,567
EPL Oil & Gas, Inc., 8.25%, 2/15/18 50,000 $31,558
EPR Properties 138,202 $7,570,706
European Investment Bank, 7.2%, 7/9/19 (144A) 23,720,000,000 $1,804,549
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 744,375 $729,288
Evolution Escrow Issuer LLC, 7.5%, 3/15/22 (144A) 2,535,000 $2,455,781
ExamWorks Group, Inc., 5.625%, 4/15/23 1,210,000 $1,254,865
Exterran Partners LP, 6.0%, 4/1/21 700,000 $686,000
Exxi 6.875% 15mar24 144,000 $48,995
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 125,000 $135,456
Family Tree Escrow LLC, 5.75%, 3/1/23 (144A) 1,645,000 $1,752,656
Federal Home Loan Mortgage Corp., Floating Rate Note, 9/26/44 (144A) 50,000 $52,102
Federal National Mortgage Association REMICS, 3.5%, 1/25/29 500,000 $7,591
Ferrellgas LP, 6.5%, 5/1/21 625,000 $630,208
Ferrellgas LP, 6.75%, 1/15/22 2,305,000 $2,382,506
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 856,610 $657,448
Filtration Group, Inc., Initial Term Loan (Second Lien), 11/15/21 50,532 $50,868
First Data Corp., 11.75%, 8/15/21 130,000 $152,021
First Gulf Bank PJSC 1,071,924 $4,420,137
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 1,015,000 $1,028,956
Florida East Coast Holdings Corp., 9.75%, 5/1/20 (144A) 1,330,000 $1,281,788
FMG Resources August 2006 Pty, Ltd., 9.75%, 3/1/22 (144A) 1,150,000 $1,207,308
Fortescue Metals Group, Ltd. 1,083,242 $1,577,743
Forum Energy Technologies, Inc., 6.25%, 10/1/21 500,000 $502,813
FREMF Mortgage Trust 2011-K12, Floating Rate Note, 1/25/46 (144A) 100,000 $107,429
Frisco Independent School District, 4.0%, 8/15/40 800,000 $810,425
Frisco Independent School District, 4.0%, 8/15/45 500,000 $504,521
Frontier Communications Corp., 7.125%, 1/15/23 4,040,000 $3,718,231
Frontier Communications Corp., 8.5%, 4/15/20 317,000 $337,112
Frontier Communications Corp., 8.75%, 4/15/22 160,000 $161,356
Frontier Communications Corp., 9.25%, 7/1/21 800,000 $875,000
Ftr 11.125% 29jun18 21,750 $2,172,825
FTS International, Inc., Floating Rate Note, 6/15/20 (144A) 1,395,000 $1,397,195
Gannett Co, Inc., 6.375%, 10/15/23 1,505,000 $1,587,336
GCI, Inc., 6.75%, 6/1/21 1,200,000 $1,221,750
GCI, Inc., 6.875%, 4/15/25 3,000,000 $3,081,563
GDF Suez 113,831 $2,108,687
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 250,000 $251,152
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 1,650,000 $50,204
General Cable Corp., 4.5%, 11/15/29 (Step) 1,410,000 $1,178,408
General Cable Corp., 5.75%, 10/1/22 2,090,000 $1,989,419
General Electric Capital Corp., 5.875%, 1/14/38 1,375,000 $1,682,015
Gilead Sciences, Inc. 66,330 $7,765,916
GLC Trust 2013-1, 3.0%, 7/15/21 (144A) 1,000,000 $611,506
Global Display Co, Ltd. 315,000 $1,248,224
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 755,000 $157,787
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 296,900 $63,980
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 300,000 $54,827
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 137,171 $28,326
Global Partners LP, 6.25%, 7/15/22 1,655,000 $1,636,496
Glp 7% 15jun23 144a 2,070,000 $2,044,643
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 210,000 $200,840
Golden State RE II, Ltd., Floating Rate Note, 1/8/19 (Cat Bond) (144A) 550,000 $548,533
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 1,960,000 $1,658,562
Government National Mortgage Association REMICS, Floating Rate Note, 6/20/38 100,000 $2,008
Griffon Corp., 5.25%, 3/1/22 1,755,000 $1,776,938
GS Mortgage Securities Trust 2014-GSFL, Floating Rate Note, 7/15/31 (144A) 675,000 $669,654
Gulfport Energy Corp., 6.625%, 5/1/23 (144A) 1,270,000 $1,302,235
Gulfport Energy Corp., 7.75%, 11/1/20 2,205,000 $2,338,219
Halcon Resources Corp. 470,920 $546,267
Halcon Resources Corp., 0.0% (Perpetual) 500 $107,625
Halcon Resources Corp., 8.875%, 5/15/21 65,000 $43,475
Halcon Resources Corp., 9.75%, 7/15/20 1,230,000 $882,474
Hexion, Inc., 6.625%, 4/15/20 680,000 $633,411
Hexion, Inc., 9.0%, 11/15/20 2,430,000 $1,777,545
Hiland Partners LP, 5.5%, 5/15/22 (144A) 370,000 $387,400
Hiland Partners LP, 7.25%, 10/1/20 (144A) 600,000 $658,875
HSBC Holdings Plc 98,170 $879,928
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 1,200,000 $1,025,250
Indonesia Treasury Bond, 8.375%, 3/15/24 11,501,000,000 $884,536
Indonesia Treasury Bond, 9.0%, 3/15/29 11,014,000,000 $892,888
Indo Tambangraya Megah Tbk PT 2,650,351 $2,554,568
Industrial & Commercial Bank of China, Ltd. 11,146,000 $8,815,791
Ingersoll-Rand Plc 89,226 $6,015,617
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 2,960,000 $2,829,678
j2 Global, Inc., 8.0%, 8/1/20 325,000 $361,833
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 760,000 $709,492
Japan Tobacco, Inc. 343,800 $12,237,228
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 225,000 $245,813
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 1,800,000 $1,894,900
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 325,000 $357,845
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 1,350,000 $1,268,044
Johnson & Johnson 242,189 $23,603,740
Jonah Energy Llc 2nd Lien Tl L + 6.5% 08may21 1,034,680 $986,826
JPMorgan Chase & Co. 188,686 $12,785,363
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 540,000 $592,140
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 225,000 $230,786
JP Morgan Chase Commercial Mortgage Securities Trust 2014-CBM MZ, Floating Rate Note, 10/15/19 (144A 1,960,000 $1,971,044
JP Morgan Chase Commercial Mortgage Securities Trust 2014-FBLU REMICS, Floating Rate Note, 12/15/28 1,250,000 $1,251,450
Kane Flt% 31jul15 600,000 $600,000
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 420,500 $425,588
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 800,400 $806,803
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,141,875 $1,152,038
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 825,900 $830,608
Kane Sac Zero% 15jun16 800,000 $767,840
Kane Zero% 19feb16 700,000 $744,310
Kane Zero% 29apr16 1,300,000 $1,366,040
KB Home, 7.625%, 5/15/23 4,305,000 $4,540,669
KB Home, 8.0%, 3/15/20 50,000 $56,178
KeHE Distributors LLC, 7.625%, 8/15/21 (144A) 685,000 $738,982
Kennedy-Wilson, Inc., 5.875%, 4/1/24 1,210,000 $1,221,722
Key Energy Services, Inc., 6.75%, 3/1/21 295,000 $180,688
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 700,000 $697,393
Kinder Morgan Energy Partners LP, 5.0%, 8/15/42 100,000 $88,892
Kindred Healthcare, Inc., 6.375%, 4/15/22 3,175,000 $3,213,761
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 430,000 $478,542
Kraft Foods Group, Inc. 80,404 $6,845,597
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 250,000 $259,865
Leaf Receivables Funding 10 LLC, 5.21%, 7/15/21 (144A) 750,000 $742,620
Legacy Reserves LP, 6.625%, 12/1/21 1,025,000 $835,909
Liberty Tire Recycling Llc 3,071 $31
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 79,000 $78,408
Linn Energy LLC, 6.25%, 11/1/19 2,100,000 $1,665,125
Linn Energy LLC, 6.5%, 9/15/21 1,200,000 $922,967
Lmia 7.375% 15jul19 1,615,000 $1,665,884
Lockheed Martin Corp., 3.8%, 3/1/45 1,875,000 $1,697,416
Lukoil International Finance BV, 6.125%, 11/9/20 (144A) 4,392,000 $4,508,376
Mallinckrodt International Finance SA, 5.5%, 4/15/25 (144A) 3,000,000 $2,944,833
Mapletree Industrial Trust 4,041,200 $4,687,138
Mapletree Logistics Trust 2,260,200 $1,898,759
MasTec, Inc., 4.875%, 3/15/23 1,685,000 $1,561,749
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 300,000 $23,367
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 350,000 $65,861
McDermott International, Inc., 8.0%, 5/1/21 (144A) 860,000 $785,467
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 886,500 $891,856
MedAssets, Inc., 8.0%, 11/15/18 100,000 $104,576
Medtronic, Inc., 4.625%, 3/15/45 (144A) 1,675,000 $1,718,495
Memorial Production Partners LP, 7.625%, 5/1/21 740,000 $714,254
Memp 6.875% 01aug22 2,965,000 $2,766,777
Merck & Co, Inc. 235,060 $13,381,966
Meritor, Inc., 6.25%, 2/15/24 645,000 $652,167
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 500,000 $74,847
Merrill Lynch Mortgage Trust 2005-CKI1, Floating Rate Note, 11/12/37 2,300,000 $2,316,086
MGM Resorts International, 6.0%, 3/15/23 2,835,000 $2,920,523
Micron Technology, Inc., 5.5%, 2/1/25 (144A) 1,225,000 $1,175,898
Microsoft Corp. 268,433 $11,851,317
Millar Western Forest Products, Ltd., 8.5%, 4/1/21 1,460,000 $1,436,275
Mirabela Nickel, Ltd. 159,303 $14,108
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 27,430 $22,161
Mitsubishi Electric Corp. 350,000 $4,512,575
Mitsubishi UFJ Financial Group, Inc. 983,900 $7,041,863
Mj Acquisition Corp 2nd Lien L + 8% 08apr23 2,025,000 $2,036,340
ML-CFC Commercial Mortgage Trust 2006-4, 5.239%, 12/12/49 3,000,000 $3,047,994
Monitronics International, Inc., 9.125%, 4/1/20 965,256 $953,492
Monitronics International, Inc., Term B Loan (2013), 3/23/18 26,232 $26,292
Morgan Stanley 117,810 $4,569,850
Morgan Stanley, Floating Rate Note (Perpetual) 30,000 $838,500
Morgan Stanley Capital I Trust 2007-IQ15, Floating Rate Note, 6/11/49 100,000 $106,869
MPT Operating Partnership LP, 5.5%, 5/1/24 1,130,000 $1,174,258
Mrd 5.875% 01jul22 630,000 $626,897
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 500,000 $513,136
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 250,000 $255,756
NANA Development Corp., 9.5%, 3/15/19 (144A) 2,580,000 $2,536,068
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 200,000 $200,896
Nationstar Mortgage LLC, 6.5%, 6/1/22 1,995,000 $1,833,738
Nationstar Mortgage LLC, 6.5%, 7/1/21 1,915,000 $1,845,581
Nationstar Mortgage LLC, 6.5%, 8/1/18 455,000 $467,323
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 250,000 $251,798
Navitas Equipment Receivables LLC 2015-1, 5.75%, 5/17/21 (144A) 1,000,000 $1,002,922
NCF Dealer Floorplan Master Trust, Floating Rate Note, 10/20/20 (144A) 600,000 $600,720
Neopost SA 50,223 $2,159,634
NetApp, Inc. 130,072 $4,105,072
NeuStar, Inc., 4.5%, 1/15/23 1,290,000 $1,165,193
New Jersey Educational Facilities Authority, 4.0%, 7/1/45 900,000 $931,564
Nippon Telegraph & Telephone Corp. 100,600 $3,641,489
Nordea Bank AB 576,077 $7,169,559
Northern Oil and Gas, Inc., 8.0%, 6/1/20 (144A) 1,365,000 $1,255,193
Novartis AG 65,780 $6,496,235
Npo 5.875% 15sep22 1,270,000 $1,314,194
NRG Energy, Inc., 6.25%, 5/1/24 2,825,000 $2,833,240
NRG Energy, Inc., 6.25%, 7/15/22 600,000 $626,292
NRG Energy, Inc., 6.625%, 3/15/23 635,000 $666,437
NRG Energy, Inc., 7.625%, 1/15/18 75,000 $84,856
Oasis Petroleum, Inc., 6.875%, 3/15/22 250,000 $258,811
Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A) 210,000 $161,306
Oct15 Spx P @ 1790.78 -45,092 $-782,969
Oct15 Spx P @ 2001.46 45,092 $2,375,905
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 108,016 $107,796
Oracle Corp., 4.125%, 5/15/45 1,825,000 $1,704,037
Outr 5.875% 15jun21 4,150,000 $3,891,086
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 450,000 $478,544
Pacific Textiles Holdings, Ltd. 2,321,000 $3,722,575
Pangaea Zero% 01jul18 1,050,000 $18,900
Parker Drilling Co., 7.5%, 8/1/20 170,000 $160,013
Parsley Energy LLC, 7.5%, 2/15/22 (144A) 1,570,000 $1,637,547
PAX Global Technology, Ltd. 2,012,000 $2,883,565
PBF Logistics LP, 6.875%, 5/15/23 (144A) 690,000 $699,907
PDC Energy, Inc., 7.75%, 10/15/22 200,000 $212,272
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 229,612 $229,612
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6,300 $360,281
Penn Virginia Corp., 7.25%, 4/15/19 200,000 $175,061
Penn Virginia Corp., 8.5%, 5/1/20 650,000 $592,583
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 350,000 $373,032
Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK) 460,000 $480,904
Pfizer, Inc. 776,060 $26,021,292
Pilgrim's Pride Corp., 5.75%, 3/15/25 (144A) 1,350,000 $1,387,219
Pioneer Energy Services Corp., 6.125%, 3/15/22 775,000 $633,977
PLA Administradora Industrial S de RL de CV 498,730 $976,128
Polymer Group, Inc., 6.875%, 6/1/19 (144A) 500,000 $462,865
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 1,775,000 $1,713,171
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 3,375,000 $3,393,984
PPL Capital Funding, Inc., 5.9%, 4/30/73 10,000 $247,700
Premier Investment Corp. 345 $1,898,130
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 50,000 $46,256
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 3,325,000 $3,185,350
Prysmian S.p.A. 41,330 $891,714
QUALCOMM, Inc. 57,975 $3,630,974
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 500,000 $504,075
Quicken Loans, Inc., 5.75%, 5/1/25 (144A) 3,300,000 $3,188,740
Radio Systems Corp., 8.375%, 11/1/19 (144A) 250,000 $268,490
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 950,000 $932,583
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 2,375,000 $2,400,036
RASC Series 2003-KS5 Trust, 4.96%, 7/25/33 (Step) 139,000 $84,684
Rayonier AM Products, Inc., 5.5%, 6/1/24 (144A) 515,000 $461,998
Rent-A-Center, Inc., 4.75%, 5/1/21 1,985,000 $1,742,665
Rent-A-Center, Inc., 6.625%, 11/15/20 1,135,000 $1,119,071
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 1,875,000 $1,900,729
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 600,000 $612,284
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 500,000 $506,338
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 250,000 $259,747
Resolute Forest Products, Inc., 5.875%, 5/15/23 2,155,000 $1,977,227
Revlon Consumer Products Corp., 5.75%, 2/15/21 1,150,000 $1,151,981
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 950,000 $993,542
Rice Energy, Inc., 6.25%, 5/1/22 785,000 $787,290
Rite Aid Corporation 1st Lien Bridge L + 6% 10feb16 4,185,000 $4,185,000
Roche Holding AG 41,789 $11,730,525
Rosetta Resources, Inc., 5.875%, 6/1/22 1,370,000 $1,469,182
Rosetta Resources, Inc., 5.875%, 6/1/24 680,000 $736,029
RSP Permian, Inc., 6.625%, 10/1/22 (144A) 1,115,000 $1,158,555
Sabine Pass Liquefaction LLC, 5.625%, 3/1/25 (144A) 690,000 $695,822
Sabine Pass Liquefaction LLC, 5.75%, 5/15/24 1,365,000 $1,369,910
Sabre GLBL, Inc., 5.375%, 4/15/23 (144A) 1,785,000 $1,778,746
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 500,000 $515,617
Sanchez Energy Corp., 6.125%, 1/15/23 2,830,000 $2,612,778
Sanders Re, Ltd., Floating Rate Note, 5/25/18 (Cat Bond) (144A) 500,000 $485,642
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 250,000 $246,703
SandRidge Energy, Inc., 7.5%, 2/15/23 50,000 $22,552
SandRidge Energy, Inc., 7.5%, 3/15/21 380,000 $174,642
Scds: (Mbi) Usd 20dec15 Buy Bnr1j2x80 2,000,000 $-107,782
Scientific Games International, Inc., 10.0%, 12/1/22 4,100,000 $3,959,917
Scientific Games International, Inc., 6.25%, 9/1/20 3,125,000 $2,494,792
Sealed Air Corp., 6.875%, 7/15/33 (144A) 2,350,000 $2,447,998
Sector Re V, Ltd., 3/1/20 (Cat Bond) (144A) 1,400,000 $1,407,840
Sekisui Chemical Co, Ltd. 519,000 $6,355,726
SFX Entertainment, Inc., 9.625%, 2/1/19 (144A) 2,650,000 $2,431,651
Silver Bay Realty 2014-1 Trust, Floating Rate Note, 9/18/31 (144A) 1,200,000 $1,169,513
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 700,000 $777,280
SK Hynix, Inc. 132,242 $5,008,960
SM Energy Co., 5.0%, 1/15/24 1,300,000 $1,261,722
SM Energy Co., 5.625%, 6/1/25 485,000 $483,084
Societatea Nationala de Gaze Naturale ROMGAZ SA 26,968 $244,708
Sotheby's, 5.25%, 10/1/22 (144A) 2,635,000 $2,616,884
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 270,000 $262,650
Spirit Master Funding LLC, 5.74%, 3/20/42 (144A) 178,672 $194,707
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/26/59 (144A) 100,000 $103,177
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 250,000 $258,873
Springs Industries, Inc., 6.25%, 6/1/21 4,445,000 $4,368,139
Sprint Corp., 7.125%, 6/15/24 2,455,000 $2,285,032
Sprint Corp., 7.25%, 9/15/21 2,000,000 $1,992,694
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 2,675,000 $2,678,641
Steel Dynamics, Inc., 5.125%, 10/1/21 1,455,000 $1,476,552
Sterigenics-Nordion Holdings LLC, 6.5%, 5/15/23 (144A) 1,345,000 $1,376,346
StoneMor Partners LP, 7.875%, 6/1/21 855,000 $894,811
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 250,000 $244,668
Summit Midstream Holdings LLC, 7.5%, 7/1/21 325,000 $352,625
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 1,095,000 $1,139,598
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 665,000 $692,085
Sunoco LP, 6.375%, 4/1/23 (144A) 3,225,000 $3,405,398
Swedbank AB 161,853 $3,767,956
Swift Energy Co., 7.875%, 3/1/22 1,195,000 $503,394
Swift Energy Co., 8.875%, 1/15/20 355,000 $156,528
Talen Energy Supply LLC, 5.125%, 7/15/19 (144A) 2,765,000 $2,775,042
Talen Energy Supply LLC, 6.5%, 6/1/25 (144A) 925,000 $932,015
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 1,840,000 $1,839,521
TCP Capital Corp. 590,815 $9,033,561
TDC A/S 432,294 $3,165,356
Templar Energy Llc 1st Lien Tl-B L + 7.5% 25nov20 2,955,000 $2,219,205
The Bank of New York Mellon Corp., Floating Rate Note (Perpetual) 400,000 $370,550
The PNC Financial Services Group, Inc. 95,943 $9,176,948
The Ryland Group, Inc., 5.375%, 10/1/22 205,000 $209,805
Titan International, Inc., 6.875%, 10/1/20 500,000 $467,969
T-Mobile USA, Inc., 6.0%, 3/1/23 3,000,000 $3,131,250
T-Mobile USA, Inc., 6.5%, 1/15/24 215,000 $228,432
T-Mobile USA, Inc., 6.836%, 4/28/23 335,000 $361,902
TMS International Corp., 7.625%, 10/15/21 (144A) 2,005,000 $1,987,150
TMX Finance LLC, 8.5%, 9/15/18 (144A) 1,290,000 $1,090,086
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 550,000 $332,040
Tops Holding LLC, 8.0%, 6/15/22 (144A) 2,825,000 $2,841,715
Toyota Motor Corp. 25,200 $1,685,682
TRAC Intermodal LLC, 11.0%, 8/15/19 100,000 $112,156
Transcend Information, Inc. 1,542,000 $5,677,668
Transfield Services, Ltd., 8.375%, 5/15/20 (144A) 635,000 $683,070
Transunion Ord 8,516 $213,752
TriplePoint Venture Growth BDC Corp. 300,000 $4,044,000
Triumph Group, Inc., 5.25%, 6/1/22 550,000 $545,531
Tronox Finance LLC, 6.375%, 8/15/20 2,500,000 $2,378,958
Truven Health Analytics, Inc., 10.625%, 6/1/20 80,000 $84,508
UBS Group AG 461,105 $9,775,314
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 100,000 $100,744
United Rentals North America, Inc., 5.75%, 11/15/24 640,000 $635,102
Universal Hospital Services, Inc., 7.625%, 8/15/20 2,085,000 $1,988,685
University of Virginia, 5.0%, 4/1/45 5,000,000 $5,774,739
Univision Communications, Inc., 5.125%, 2/15/25 (144A) 1,060,000 $1,043,031
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 58,600 $58,299
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 150,000 $149,658
Valero Energy Corp., 6.625%, 6/15/37 100,000 $113,236
Vers 2015-A Zero% 31dec17 800,000 $838,240
Vertafore, Inc., Term Loan (2013), 10/3/19 95,300 $95,443
Vina San Pedro Tarapaca SA 1,309,837,958 $10,252,246
Volkswagen AG 14,283 $3,303,036
Voya Financial, Inc., Floating Rate Note, 5/15/53 300,000 $308,541
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 84,000 $85,181
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 25,000 $26,208
Wasion Group Holdings, Ltd. 2,240,000 $3,477,172
Waterjet Holdings, Inc., 7.625%, 2/1/20 (144A) 2,505,000 $2,684,786
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 100,000 $106,122
Wells Fargo & Co., Floating Rate Note (Perpetual) 2,100,000 $2,155,463
Westgate Resorts 2014-1 LLC, 5.5%, 12/20/26 (144A) 800,000 $627,624
Westgate Resorts LLC, 9.5%, 2/20/25 (144A) 5,000,000 $1,150,283
WFRBS Commercial Mortgage Trust 2011-C3, Floating Rate Note, 3/15/44 (144A) 100,000 $109,289
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/17/48 (144A) 100,000 $94,666
WH Group, Ltd. 6,468,500 $4,385,623
Windstream Services LLC, 6.375%, 8/1/23 2,680,000 $2,252,038
Windstream Services LLC, 7.5%, 6/1/22 770,000 $681,450
Windstream Services LLC, 7.75%, 10/1/21 590,000 $551,281
WMG Acquisition Corp., 5.625%, 4/15/22 (144A) 1,900,000 $1,927,313
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 1,625,000 $1,567,199
WM Morrison Supermarkets Plc 821,401 $2,334,497
WR Grace & Co-Conn, 5.625%, 10/1/24 (144A) 2,350,000 $2,412,422
Wynn Macau, Ltd., 5.25%, 10/15/21 (144A) 1,120,000 $1,070,813
Xerium Technologies, Inc., 8.875%, 6/15/18 1,130,000 $1,174,007
XPO Logistics, Inc., 7.875%, 9/1/19 (144A) 1,375,000 $1,505,419
Yageo Corp. 2,719,000 $4,236,591
Zebra Technologies Corp., 7.25%, 10/15/22 (144A) 1,150,000 $1,262,476
Zero% 30nov19 2,000,000 $2,009,800
Zero% 31aug16 1,000,000 $1,007,100
Zurich Insurance Group AG 18,758 $5,716,797

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