Pioneer Multi-Asset Income Fund

Top 10 Portfolio Holdings as of 3/31/2015
Default: sorted by market value

Security Name Par / Shares Market Value
14112z Zero% 01feb19 1,200,000 $1,250,880
A10 Securitization 2013-1 LLC, 4.7%, 11/17/25 (144A) 100,000 $100,283
A10 Securitization 2013-1 LLC, 6.41%, 11/17/25 (144A) 100,000 $100,341
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 1,006,078 $975,896
AbbVie, Inc. 83,726 $4,901,320
Aberdeen Asset Management Plc 242,155 $1,651,269
Abu Dhabi Commercial Bank PJSC 4,011,360 $7,043,320
ACE Securities Corp Manufactured Housing Trust Series 2003-MH1, Floating Rate Note, 8/15/30 (144A) 50,000 $4,191
Advanced Micro Devices, Inc., 6.75%, 3/1/19 1,000,000 $975,625
Advanced Micro Devices, Inc., 7.0%, 7/1/24 4,350,000 $3,828,000
Advanced Micro Devices, Inc., 7.5%, 8/15/22 1,085,000 $1,049,285
Advanced Semiconductor Engineering, Inc. 1,273,000 $1,728,744
AECOM, 5.75%, 10/15/22 (144A) 655,000 $696,233
AECOM, 5.875%, 10/15/24 (144A) 655,000 $706,456
Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A) 176,000 $149,892
AES Tiete SA 553,802 $2,535,494
Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A) 1,260,000 $1,323,630
Alliance One International, Inc., 9.875%, 7/15/21 2,075,000 $1,869,258
Alpha Natural Resources, Inc., 6.0%, 6/1/19 950,000 $285,000
alstria office REIT-AG 118,954 $1,672,721
Altice Finco SA, 8.125%, 1/15/24 (144A) 200,000 $215,056
Altria Group, Inc. 36,103 $1,805,872
Altrl Zero% 30jun16 187,586 $134,743
American Airlines Group, Inc. 118,681 $6,263,983
American Electric Power Co, Inc. 302,654 $17,024,288
American Energy-Permian Basin LLC, 7.375%, 11/1/21 (144A) 2,650,000 $2,144,835
Amsurg Corp., 5.625%, 7/15/22 1,425,000 $1,473,984
APERAM SA, 7.75%, 4/1/18 (144A) 150,000 $161,625
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 1,000,000 $951,667
Apollo Commercial Real Estate Finance, Inc., 5.5%, 3/15/19 595,000 $601,661
Apollo Investment Corp. 2,256,587 $17,319,305
Apple, Inc. 34,003 $4,230,993
Approach Resources, Inc., 7.0%, 6/15/21 1,580,000 $1,446,666
Appvion, Inc., 9.0%, 6/1/20 (144A) 435,000 $299,063
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 1,252,612 $1,336,883
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 1,000,000 $1,023,938
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 183,080 $184,024
Ares Capital Corp. 288,578 $4,954,884
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 1,550,000 $1,614,470
Armor Re, Ltd., Floating Rate Note, 12/15/16 (Cat Bond) (144A) 500,000 $498,317
Ascentium Equipment Receivables 2015-1 LLC, 5.92%, 6/12/23 (144A) 800,000 $804,626
Ashtead Capital, Inc., 5.625%, 10/1/24 (144A) 1,085,000 $1,161,289
Asustek Computer, Inc. 163,000 $1,639,549
Audatex North America, Inc., 6.125%, 11/1/23 (144A) 1,700,000 $1,841,135
Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A) 465,000 $364,395
Avance Gas Holding, Ltd. 609,857 $8,394,640
Avis Budget Car Rental LLC, 5.5%, 4/1/23 1,290,000 $1,362,563
Axiall Corp., 4.875%, 5/15/23 2,145,000 $2,168,416
Banc of America Merrill Lynch Commercial Mortgage, Inc. REMICS, Floating Rate Note, 9/10/47 (144A) 40,000 $35,371
Bank of America Corp., Floating Rate Note, 10/23/49 1,675,000 $1,819,097
Bank of America Corp., Floating Rate Note, 9/29/49 1,950,000 $1,995,365
Bankrate, Inc., 6.125%, 8/15/18 (144A) 1,245,000 $1,239,181
Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/37 (Step) 321,166 $15,027
Bayview Opportunity Master Fund IIa Trust 2014-20NPL, Floating Rate Note, 8/28/44 (144A) 450,000 $349,381
Bayview Opportunity Master Fund Trust 2014-15RPL, Floating Rate Note, 10/28/19 (144A) 2,250,000 $2,009,433
Bear Stearns Asset Backed Securities Trust, 8.41%, 10/25/29 (Step) 2,500,000 $60,379
Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A) 200,000 $210,156
Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41 100,000 $100,451
Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, Floating Rate Note, 10/12/42 1,500,000 $1,508,434
Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38 767,493 $785,347
Belden, Inc., 5.5%, 9/1/22 (144A) 410,000 $422,129
Berry Petroleum Co LLC, 6.375%, 9/15/22 700,000 $546,233
BioScrip, Inc., 8.875%, 2/15/21 (144A) 1,555,000 $1,415,190
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 44,551 $44,273
BioScrip, Inc., Initial Term B Loan, 7/31/20 89,103 $88,546
BlackRock MuniVest Fund, Inc. 620,000 $6,293,000
BlackRock MuniYield Fund, Inc. 420,000 $6,375,600
Blue Danube II, Ltd., Floating Rate Note, 5/23/18 (Cat Bond) (144A) 250,000 $251,174
Bombardier Recreational Products, Inc., Term B Loan, 1/30/19 113,143 $113,166
Bonanza Creek Energy, Inc., 5.75%, 2/1/23 935,000 $869,160
Bonanza Creek Energy, Inc., 6.75%, 4/15/21 1,185,000 $1,189,296
BreitBurn Energy Partners LP, 7.875%, 4/15/22 430,000 $325,214
Bridgestone Corp. 181,500 $7,282,575
Bristow Group, Inc., 6.25%, 10/15/22 202,000 $197,722
Brown Shoe Co, Inc., 7.125%, 5/15/19 300,000 $319,700
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 250,000 $255,543
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/20 (Cat Bond) (144A) 500,000 $524,658
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 435,000 $396,938
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 (144A) 3,550,000 $3,549,901
Calumet Specialty Products Partners LP, 7.625%, 1/15/22 170,000 $174,437
Calumet Specialty Products Partners LP, 7.75%, 4/15/23 (144A) 1,275,000 $1,290,442
Cambium Learning Group, Inc., 9.75%, 2/15/17 100,000 $100,246
CAM Mortgage Trust 2014-1, 5.5%, 12/15/53 (Step) (144A) 350,000 $141,877
Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A) 100,000 $112,389
Cardinal Health, Inc. 80,203 $7,239,925
CCO Holdings LLC, 5.75%, 1/15/24 165,000 $173,397
CCO Holdings LLC, 5.75%, 9/1/23 1,440,000 $1,511,700
CenturyLink, Inc., 5.8%, 3/15/22 200,000 $208,766
CenturyLink, Inc., 6.45%, 6/15/21 700,000 $768,419
CenturyLink, Inc., 6.75%, 12/1/23 1,325,000 $1,488,969
CenturyLink, Inc., 7.6%, 9/15/39 450,000 $462,489
Cenveo Corp., 6.0%, 8/1/19 (144A) 1,090,000 $1,032,775
CEVA GROUP Plc 22 $16,262
CEVA GROUP Plc, 0.0%, 12/31/14 49 $35,199
Chaparral Energy, Inc., 7.625%, 11/15/22 2,325,000 $1,624,723
Chevron Lubricants Lanka Plc 285,354 $841,975
Chiquita Brands International, Inc., 7.875%, 2/1/21 214,000 $237,139
CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33 130,000 $15,964
CHS, 6.875%, 2/1/22 2,540,000 $2,743,729
CHS, 8.0%, 11/15/19 1,065,000 $1,163,749
Citigroup, Inc., Floating Rate Note (Perpetual) 37,000 $1,022,680
Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/17/49 50,000 $52,001
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 1,950,000 $1,833,447
Cobalt International Energy, Inc., 2.625%, 12/1/19 1,300,000 $956,313
CoBank ACB, Floating Rate Note (Perpetual) (144A) 1,000 $102,781
COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28 150,000 $150,421
Commercial Metals Co., 4.875%, 5/15/23 500,000 $481,708
Commercial Vehicle Group, Inc., 7.875%, 4/15/19 350,000 $375,834
CommScope Holding Co, Inc., 6.625%, 6/1/20 (144A) (PIK) 570,000 $596,838
Comstock Resources, Inc., 7.75%, 4/1/19 1,110,000 $509,213
ContourGlobal Power Holdings SA, 7.125%, 6/1/19 (144A) 865,000 $902,844
CorpGroup Banking SA, 6.75%, 3/15/23 (144A) 250,000 $248,356
Corsicanto, Ltd., 3.5%, 1/15/32 250,000 $268,097
Cott Beverages, Inc., 5.375%, 7/1/22 (144A) 2,685,000 $2,623,748
Countrywide Asset-Backed Certificates, 5.557%, 1/25/36 (Step) 205,000 $208,057
Countrywide Asset-Backed Certificates, Floating Rate Note, 1/25/36 130,000 $56,011
Covanta Holding Corp., 5.875%, 3/1/24 380,000 $395,160
Coveris Holding Corp., 10.0%, 6/1/18 (144A) 200,000 $218,167
Coveris Holdings SA, 7.875%, 11/1/19 (144A) 800,000 $844,250
CPI International, Inc., 8.0%, 2/15/18 105,000 $108,668
Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 6/25/33 100,000 $19,255
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A) 100,000 $103,818
Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38 855,000 $864,185
Credit Suisse Group AG 331,672 $8,923,675
Crestwood Midstream Partners LP, 6.0%, 12/15/20 340,000 $347,707
Crestwood Midstream Partners LP, 6.125%, 3/1/22 385,000 $389,853
Crown Americas LLC, 4.5%, 1/15/23 1,000,000 $1,018,250
CST Brands, Inc., 5.0%, 5/1/23 1,130,000 $1,176,142
CVS Health Corp. 30,570 $3,155,130
Daimler AG 17,512 $1,685,237
Darling Ingredients, Inc., 5.375%, 1/15/22 455,000 $463,575
DaVita HealthCare Partners, Inc., 5.125%, 7/15/24 1,865,000 $1,922,478
DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/12/44 (144A) 100,000 $113,203
DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A) 300,000 $222,338
Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A) 200,000 $200,989
Del Monte Foods, Inc., Initial Loan (Second Lien), 5/26/21 700,000 $636,125
Denbury Resources, Inc., 4.625%, 7/15/23 1,250,000 $1,084,080
Denbury Resources, Inc., 5.5%, 5/1/22 1,125,000 $1,035,469
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 730,000 $736,388
DISH DBS Corp., 5.875%, 11/15/24 1,720,000 $1,758,921
Doha Bank QSC 124,968 $1,723,942
Dole Food Co, Inc., 7.25%, 5/1/19 (144A) 1,710,000 $1,787,306
DR Horton, Inc., 5.75%, 8/15/23 300,000 $326,954
DriveTime Automotive Group, Inc., 8.0%, 6/1/21 (144A) 4,130,000 $4,044,112
DynCorp International, Inc., 10.375%, 7/1/17 20,000 $18,019
easyJet Plc 246,121 $6,873,747
Eaton Corp Plc 125,136 $8,501,740
eBay, Inc. 73,699 $4,250,958
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/7/17 (Cat Bond) (144A) 275,000 $278,241
Endo Finance LLC, 5.375%, 1/15/23 (144A) 1,255,000 $1,266,103
Endo Finance LLC, 5.75%, 1/15/22 (144A) 1,260,000 $1,306,795
Energy & Exploration Partners, Inc., 8.0%, 7/1/19 (144A) 1,455,000 $567,450
Energy Transfer Equity LP, 5.875%, 1/15/24 980,000 $1,046,055
Energy XXI, Ltd., 3.0%, 12/15/18 3,330,000 $986,790
Energy XXI Gulf Coast, Inc., 6.875%, 3/15/24 (144A) 144,000 $50,120
EnPro Industries, Inc., 5.875%, 9/15/22 (144A) 1,270,000 $1,327,291
Entegris, Inc., 6.0%, 4/1/22 (144A) 2,100,000 $2,252,250
EPL Oil & Gas, Inc., 8.25%, 2/15/18 50,000 $37,527
EPR Properties 138,202 $8,296,266
European Investment Bank, 7.2%, 7/9/19 (144A) 95,470,000,000 $7,448,903
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 746,250 $738,601
Evolution Escrow Issuer LLC, 7.5%, 3/15/22 (144A) 2,535,000 $2,573,025
ExamWorks Group, Inc., 9.0%, 7/15/19 100,000 $107,650
Exterran Partners LP, 6.0%, 4/1/21 700,000 $665,000
FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A) 125,000 $133,620
Family Tree Escrow LLC, 5.75%, 3/1/23 (144A) 1,645,000 $1,741,347
Federal Home Loan Mortgage Corp., Floating Rate Note, 9/26/44 (144A) 50,000 $52,062
Federal National Mortgage Association REMICS, 3.5%, 1/25/29 500,000 $8,220
Ferrellgas LP, 6.5%, 5/1/21 625,000 $648,177
Ferrellgas LP, 6.75%, 1/15/22 2,305,000 $2,377,953
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 856,610 $630,412
Fifth Third Bancorp, Floating Rate Note (Perpetual) 5,910 $166,958
Filtration Group, Inc., Initial Term Loan (Second Lien), 11/15/21 200,000 $201,333
First Data Corp., 11.75%, 8/15/21 130,000 $152,264
First Gulf Bank PJSC 1,996,603 $7,918,990
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 1,015,000 $1,051,159
Florida East Coast Holdings Corp., 9.75%, 5/1/20 (144A) 1,330,000 $1,347,456
Fortescue Metals Group, Ltd. 934,640 $1,384,071
Forum Energy Technologies, Inc., 6.25%, 10/1/21 500,000 $484,375
FREMF Mortgage Trust 2011-K12, Floating Rate Note, 1/25/46 (144A) 100,000 $108,804
Frontier Communications Corp., 6.25%, 9/15/21 300,000 $301,583
Frontier Communications Corp., 7.125%, 1/15/23 2,040,000 $2,116,585
Frontier Communications Corp., 8.5%, 4/15/20 317,000 $368,257
Frontier Communications Corp., 8.75%, 4/15/22 160,000 $184,056
Frontier Communications Corp., 9.25%, 7/1/21 800,000 $946,500
Gannett Co, Inc., 6.375%, 10/15/23 1,505,000 $1,677,166
GCI, Inc., 6.75%, 6/1/21 1,200,000 $1,242,000
GCI, Inc., 6.875%, 4/15/25 (144A) 3,000,000 $3,022,500
GCI, Inc., 8.625%, 11/15/19 758,000 $817,756
GDF Suez 113,831 $2,250,541
GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A) 250,000 $252,372
GE Mortgage Services LLC, Floating Rate Note, 3/25/27 1,650,000 $70,788
General Cable Corp., 4.5%, 11/15/29 (Step) 1,410,000 $1,142,276
General Cable Corp., 5.75%, 10/1/22 2,090,000 $2,003,788
General Electric Capital Corp., Floating Rate Note (Perpetual) 100,000 $119,473
GLC Trust 2013-1, 3.0%, 7/15/21 (144A) 1,000,000 $716,344
Global Display Co, Ltd. 315,000 $1,975,829
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 300,000 $58,994
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 296,900 $69,124
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 755,000 $169,782
Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A) 137,171 $30,390
Global Partners LP, 6.25%, 7/15/22 (144A) 1,655,000 $1,652,012
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 210,000 $200,387
Golden State RE II, Ltd., Floating Rate Note, 1/8/19 (Cat Bond) (144A) 550,000 $550,535
Gol LuxCo SA, 8.875%, 1/24/22 (144A) 1,960,000 $1,453,374
Government National Mortgage Association REMICS, Floating Rate Note, 6/20/38 100,000 $1,965
Griffon Corp., 5.25%, 3/1/22 1,255,000 $1,243,674
GS Mortgage Securities Trust 2014-GSFL, Floating Rate Note, 7/15/31 (144A) 675,000 $674,165
Gulfport Energy Corp., 7.75%, 11/1/20 2,205,000 $2,331,328
Halcon Resources Corp. 3,707 $5,709
Halcon Resources Corp., 0.0% (Perpetual) 500 $147,625
Halcon Resources Corp., 8.875%, 5/15/21 175,000 $127,492
Halcon Resources Corp., 9.25%, 2/15/22 570,000 $400,037
Halcon Resources Corp., 9.75%, 7/15/20 1,710,000 $1,240,748
Halyard Health, Inc., 6.25%, 10/15/22 (144A) 1,125,000 $1,210,469
Hexion, Inc., 6.625%, 4/15/20 680,000 $642,973
Hexion, Inc., 9.0%, 11/15/20 2,430,000 $1,783,620
Hiland Partners LP, 5.5%, 5/15/22 (144A) 370,000 $386,938
Hiland Partners LP, 7.25%, 10/1/20 (144A) 600,000 $668,250
HSBC Holdings Plc 98,170 $836,120
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 200,000 $172,250
Indocement Tunggal Prakarsa Tbk PT 2,229,200 $3,734,485
Indonesia Treasury Bond, 8.375%, 3/15/24 46,167,000,000 $3,761,751
Indonesia Treasury Bond, 9.0%, 3/15/29 43,403,000,000 $3,891,750
Indo Tambangraya Megah Tbk PT 2,650,351 $3,419,455
Industrial & Commercial Bank of China, Ltd. 13,744,000 $10,145,215
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 2,960,000 $2,734,403
Iron Mountain, Inc., 5.75%, 8/15/24 1,025,000 $1,045,343
j2 Global, Inc., 8.0%, 8/1/20 325,000 $355,333
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 760,000 $808,133
Japan Tobacco, Inc. 334,700 $10,574,711
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 225,000 $254,250
JBS Investments GmbH, 7.25%, 4/3/24 (144A) 1,800,000 $1,900,525
JBS Investments GmbH, 7.75%, 10/28/20 (144A) 325,000 $354,392
Jefferies Finance LLC, 7.375%, 4/1/20 (144A) 200,000 $201,375
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 1,350,000 $1,138,950
Johnson & Johnson 218,868 $22,018,121
Jonah Energy Llc 2nd Lien Tl L + 6.5% 08may21 1,034,680 $928,625
JPMorgan Chase & Co., Floating Rate Note, 8/29/49 540,000 $591,975
JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51 225,000 $230,904
JP Morgan Chase Commercial Mortgage Securities Trust 2014-CBM MZ, Floating Rate Note, 10/15/19 (144A 1,960,000 $1,969,420
JP Morgan Chase Commercial Mortgage Securities Trust 2014-FBLU REMICS, Floating Rate Note, 12/15/28 1,250,000 $1,252,213
Kane Flt% 12jun15 600,000 $587,400
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 420,500 $422,308
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,141,875 $1,146,328
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 800,400 $802,721
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 825,900 $827,634
Kane Zero% 19feb16 560,000 $586,488
Kane Zero% 29apr16 1,300,000 $1,347,840
KB Home, 7.625%, 5/15/23 4,305,000 $4,452,745
KB Home, 8.0%, 3/15/20 50,000 $54,178
KeHE Distributors LLC, 7.625%, 8/15/21 (144A) 685,000 $733,630
Kennedy-Wilson, Inc., 5.875%, 4/1/24 1,210,000 $1,248,569
Key Energy Services, Inc., 6.75%, 3/1/21 295,000 $191,934
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 700,000 $701,450
Kinder Morgan Energy Partners LP, 5.0%, 8/15/42 100,000 $97,754
Kindred Healthcare, Inc., 6.375%, 4/15/22 3,175,000 $3,296,113
Kindred Healthcare, Inc., 8.0%, 1/15/20 (144A) 430,000 $471,286
Kraft Foods Group, Inc. 80,404 $7,004,394
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 250,000 $254,208
Legacy Reserves LP, 6.625%, 12/1/21 1,025,000 $832,385
Liberty Tire Recycling Llc 3,071 $31
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 79,000 $76,259
Linn Energy LLC, 6.25%, 11/1/19 2,100,000 $1,713,688
Linn Energy LLC, 6.5%, 9/15/21 1,200,000 $952,217
LKQ Corp., 4.75%, 5/15/23 1,800,000 $1,796,300
LMI Aerospace, Inc., 7.375%, 7/15/19 (144A) 1,615,000 $1,652,257
Mapletree Industrial Trust 13,660,000 $15,713,335
Mapletree Logistics Trust 4,743,000 $4,300,037
MasTec, Inc., 4.875%, 3/15/23 1,685,000 $1,579,126
MASTR Adjustable Rate Mortgages Trust 2005-1, Floating Rate Note, 1/25/35 300,000 $27,118
MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34 350,000 $67,748
McDermott International, Inc., 8.0%, 5/1/21 (144A) 860,000 $695,167
MCGRAW-HILL SCHOOL EDUCATION HOLDINGS LLC, Term B Loan, 12/18/19 888,750 $892,361
Mcron Finance Sub LLC, 8.375%, 5/15/19 (144A) 80,000 $87,931
MedAssets, Inc., 8.0%, 11/15/18 100,000 $107,272
Mediacom Broadband LLC, 5.5%, 4/15/21 1,745,000 $1,804,524
Memorial Production Partners LP, 6.875%, 8/1/22 (144A) 2,965,000 $2,657,999
Memorial Production Partners LP, 7.625%, 5/1/21 740,000 $696,910
Memorial Resource Development Corp., 5.875%, 7/1/22 (144A) 630,000 $601,453
Meritage Homes Corp., 7.0%, 4/1/22 170,000 $188,275
Meritor, Inc., 6.25%, 2/15/24 645,000 $654,989
Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36 500,000 $74,163
Merrill Lynch Mortgage Trust 2005-CKI1, Floating Rate Note, 11/12/37 2,300,000 $2,322,376
MGM Resorts International, 6.0%, 3/15/23 2,835,000 $2,920,523
Micron Technology, Inc., 5.5%, 2/1/25 (144A) 855,000 $869,250
Microsoft Corp. 102,512 $4,167,625
Millar Western Forest Products, Ltd., 8.5%, 4/1/21 1,460,000 $1,543,950
Mirabela Nickel, Ltd. 229,303 $24,334
Mirabela Nickel, Ltd., 9.5%, 6/24/19 (144A) (PIK) 26,187 $20,535
Mitsubishi UFJ Financial Group, Inc. 2,634,600 $16,311,565
ML-CFC Commercial Mortgage Trust 2006-4, 5.239%, 12/12/49 3,000,000 $3,042,888
Monitronics International, Inc., 9.125%, 4/1/20 965,256 $988,784
Monitronics International, Inc., Term B Loan (2013), 3/23/18 58,209 $58,346
Morgan Stanley, Floating Rate Note (Perpetual) 30,000 $854,100
Morgan Stanley Capital I Trust 2007-IQ15, Floating Rate Note, 6/11/49 100,000 $107,690
MPT Operating Partnership LP, 5.5%, 5/1/24 1,130,000 $1,226,521
Murphy Oil USA, Inc., 6.0%, 8/15/23 1,000,000 $1,080,167
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 500,000 $535,366
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 250,000 $267,924
NANA Development Corp., 9.5%, 3/15/19 (144A) 2,580,000 $2,397,393
Nations Equipment Finance Funding II LLC, 5.227%, 9/20/19 (144A) 1,500,000 $1,437,093
Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A) 200,000 $202,716
Nationstar Mortgage LLC, 6.5%, 6/1/22 1,995,000 $1,958,425
Nationstar Mortgage LLC, 6.5%, 7/1/21 1,915,000 $1,888,669
Nationstar Mortgage LLC, 6.5%, 8/1/18 455,000 $462,204
Navistar International Corp., 8.25%, 11/1/21 375,000 $377,578
Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19 250,000 $251,991
Navitas Equipment Receivables LLC 2015-1, 5.75%, 5/17/21 (144A) 1,000,000 $1,000,791
NCF Dealer Floorplan Master Trust, Floating Rate Note, 10/20/20 (144A) 600,000 $589,347
Neopost SA 50,223 $2,755,472
NetApp, Inc. 266,851 $9,462,536
NeuStar, Inc., 4.5%, 1/15/23 1,290,000 $1,115,205
Nippon Telegraph & Telephone Corp. 100,500 $6,192,676
Nordea Bank AB 313,691 $3,820,421
Novartis AG 57,786 $5,710,883
NRG Energy, Inc., 6.25%, 5/1/24 2,825,000 $2,919,755
NRG Energy, Inc., 6.25%, 7/15/22 600,000 $624,417
NRG Energy, Inc., 6.625%, 3/15/23 635,000 $659,095
NRG Energy, Inc., 7.625%, 1/15/18 75,000 $83,801
OAS Finance, Ltd., 8.0%, 7/2/21 (144A) 650,000 $131,481
OAS Investments GmbH, 8.25%, 10/19/19 (144A) 625,000 $115,391
Oasis Petroleum, Inc., 6.875%, 3/15/22 250,000 $244,514
Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A) 895,000 $551,544
Ocwen Loan Servicing LLC, Initial Term Loan, 2/15/18 147,000 $143,478
Outerwall, Inc., 5.875%, 6/15/21 (144A) 3,615,000 $3,325,072
Outerwall, Inc., 6.0%, 3/15/19 605,000 $588,463
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 450,000 $470,388
Pacific Textiles Holdings, Ltd. 2,321,000 $3,212,681
Pangaea Zero% 01jul18 1,050,000 $1,144,710
Parker Drilling Co., 7.5%, 8/1/20 170,000 $139,400
Parsley Energy LLC, 7.5%, 2/15/22 (144A) 1,570,000 $1,600,746
PAX Global Technology, Ltd. 2,012,000 $2,101,859
PC Nextco Holdings LLC, 8.75%, 8/15/19 700,000 $720,076
PDC Energy, Inc., 7.75%, 10/15/22 200,000 $217,147
Pelican Products, Inc., Term Loan (First Lien), 4/8/20 230,194 $229,690
Penn Virginia Corp., 6.0% (Perpetual) (144A) 6,300 $383,607
Penn Virginia Corp., 7.25%, 4/15/19 200,000 $187,686
Penn Virginia Corp., 8.5%, 5/1/20 650,000 $634,021
Penn Virginia Resource Partners LP, 6.5%, 5/15/21 350,000 $376,969
Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK) 460,000 $490,679
Pfizer, Inc. 935,123 $32,532,929
Pilgrim's Pride Corp., 5.75%, 3/15/25 (144A) 1,350,000 $1,384,688
Pioneer Energy Services Corp., 6.125%, 3/15/22 775,000 $591,110
PLA Administradora Industrial S de RL de CV 498,730 $1,010,588
Polymer Group, Inc., 6.875%, 6/1/19 (144A) 500,000 $488,958
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 1,775,000 $1,744,233
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 3,375,000 $3,484,688
PPL Capital Funding, Inc., 5.9%, 4/30/73 10,000 $255,400
Precision Castparts Corp. 18,643 $3,915,030
Premier Investment Corp. 345 $1,986,848
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 50,000 $50,068
Provident Funding Associates LP, 6.75%, 6/15/21 (144A) 400,000 $388,950
Prysmian S.p.A. 237,088 $4,880,150
QUALCOMM, Inc. 57,975 $4,019,987
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 500,000 $514,683
Radio Systems Corp., 8.375%, 11/1/19 (144A) 250,000 $278,099
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 950,000 $927,833
Rain CII Carbon LLC, 8.25%, 1/15/21 (144A) 1,725,000 $1,638,606
RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step) 139,000 $87,807
Rayonier AM Products, Inc., 5.5%, 6/1/24 (144A) 515,000 $451,054
Renfro Corp., Tranche B Term Loan, 1/30/19 73,179 $72,081
Rent-A-Center, Inc., 4.75%, 5/1/21 1,985,000 $1,726,536
Rent-A-Center, Inc., 6.625%, 11/15/20 1,135,000 $1,095,307
Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A) 1,875,000 $1,874,948
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 350,000 $356,132
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 600,000 $618,452
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 500,000 $512,125
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 250,000 $267,981
Resolute Forest Products, Inc., 5.875%, 5/15/23 2,155,000 $2,118,784
Revlon Consumer Products Corp., 5.75%, 2/15/21 1,150,000 $1,195,824
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 950,000 $1,010,167
Rice Energy, Inc., 6.25%, 5/1/22 785,000 $785,818
Rite Aid Corporation 1st Lien Bridge L + 6% 10feb16 4,185,000 $4,185,000
RJS Power Holdings LLC, 5.125%, 7/15/19 (144A) 2,765,000 $2,753,441
Roche Holding AG 41,789 $11,515,902
Rosetta Resources, Inc., 5.875%, 6/1/22 1,370,000 $1,318,054
Rosetta Resources, Inc., 5.875%, 6/1/24 680,000 $645,717
RSP Permian, Inc., 6.625%, 10/1/22 (144A) 1,115,000 $1,158,535
Russian Federal Bond - OFZ, 7.6%, 7/20/22 300,000,000 $4,158,004
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 290,000 $294,621
Sabine Pass Liquefaction LLC, 5.625%, 3/1/25 (144A) 690,000 $685,256
Sabine Pass Liquefaction LLC, 5.75%, 5/15/24 1,365,000 $1,401,476
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 500,000 $508,222
Salix Pharmaceuticals, Ltd., 6.25%, 1/15/21 (144A) 805,000 $903,590
Sanchez Energy Corp., 6.125%, 1/15/23 2,830,000 $2,580,056
Sanders Re, Ltd., Floating Rate Note, 5/25/18 (Cat Bond) (144A) 500,000 $495,250
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 250,000 $250,275
SandRidge Energy, Inc., 7.5%, 2/15/23 50,000 $30,979
SandRidge Energy, Inc., 7.5%, 3/15/21 380,000 $236,867
Scds: (Mbi) Usd 20dec15 Buy Bnr1j2x80 2,000,000 $-186,658
Scientific Games International, Inc., 10.0%, 12/1/22 (144A) 3,100,000 $3,010,444
Scientific Games International, Inc., 6.25%, 9/1/20 3,125,000 $2,344,401
Sealed Air Corp., 6.875%, 7/15/33 (144A) 2,350,000 $2,507,483
Sekisui Chemical Co, Ltd. 519,000 $6,739,794
SFX Entertainment, Inc., 9.625%, 2/1/19 (144A) 2,650,000 $2,560,010
Shire Plc 103,164 $8,210,273
Silver Bay Realty 2014-1 Trust, Floating Rate Note, 9/18/31 (144A) 1,200,000 $1,200,725
Silverton RE, Ltd., 0.0%, 9/18/17 (Cat Bond) (144A) 700,000 $736,120
SM Energy Co., 5.0%, 1/15/24 1,300,000 $1,237,672
Societatea Nationala de Gaze Naturale ROMGAZ SA 26,968 $230,144
Sotheby's, 5.25%, 10/1/22 (144A) 1,885,000 $1,901,494
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 270,000 $258,600
Spirit Master Funding LLC, 5.74%, 3/20/42 (144A) 178,672 $205,098
Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/26/59 (144A) 100,000 $103,445
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 250,000 $259,074
Springs Industries, Inc., 6.25%, 6/1/21 1,365,000 $1,376,375
Sprint Corp., 7.125%, 6/15/24 2,455,000 $2,445,129
Sprint Corp., 7.25%, 9/15/21 2,000,000 $2,016,444
Stackpole International Intermediate, 7.75%, 10/15/21 (144A) 2,675,000 $2,743,844
Standard Pacific Corp., 5.875%, 11/15/24 580,000 $609,675
Standard Pacific Corp., 6.25%, 12/15/21 505,000 $544,593
Steel Dynamics, Inc., 5.125%, 10/1/21 (144A) 1,455,000 $1,505,935
Stone Energy Corp., 7.5%, 11/15/22 846,000 $789,587
StoneMor Partners LP, 7.875%, 6/1/21 855,000 $920,194
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 250,000 $254,392
Summit Midstream Holdings LLC, 7.5%, 7/1/21 325,000 $344,094
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 1,095,000 $1,135,834
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 665,000 $689,799
Sunoco LP, 6.375%, 4/1/23 (144A) 3,225,000 $3,321,750
Swedbank AB 161,853 $3,862,706
Swift Energy Co., 7.875%, 3/1/22 1,345,000 $546,827
Swift Energy Co., 8.875%, 1/15/20 355,000 $155,751
Syngenta AG 15,935 $5,416,675
TCP Capital Corp. 727,109 $11,648,286
TDC A/S 432,294 $3,094,017
Templar Energy Llc 1st Lien Tl-B L + 7.5% 25nov20 2,955,000 $2,020,481
The Bank of New York Mellon Corp., Floating Rate Note (Perpetual) 400,000 $384,050
The GEO Group, Inc., 5.875%, 10/15/24 3,050,000 $3,264,580
The PNC Financial Services Group, Inc. 90,642 $8,451,460
The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual) 30,000 $33,707
The Ryland Group, Inc., 5.375%, 10/1/22 205,000 $209,997
TimberStar Trust I, 7.5296%, 10/15/36 (144A) 25,000 $25,920
Titan International, Inc., 6.875%, 10/1/20 500,000 $450,313
T-Mobile USA, Inc., 6.0%, 3/1/23 3,000,000 $3,089,070
T-Mobile USA, Inc., 6.5%, 1/15/24 215,000 $227,625
T-Mobile USA, Inc., 6.625%, 11/15/20 100,000 $107,003
T-Mobile USA, Inc., 6.836%, 4/28/23 335,000 $356,595
TMS International Corp., 7.625%, 10/15/21 (144A) 2,005,000 $2,075,495
TMX Finance LLC, 8.5%, 9/15/18 (144A) 1,290,000 $920,773
Tonon Bioenergia SA, 9.25%, 1/24/20 (144A) 200,000 $62,343
Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) 550,000 $296,427
Toyota Motor Corp. 25,200 $1,758,674
TRAC Intermodal LLC, 11.0%, 8/15/19 100,000 $110,906
Transcend Information, Inc. 481,000 $1,704,321
Transfield Services, Ltd., 8.375%, 5/15/20 (144A) 635,000 $696,366
TriplePoint Venture Growth BDC Corp. 290,000 $4,091,900
Triumph Group, Inc., 5.25%, 6/1/22 550,000 $550,000
Tronox Finance LLC, 6.375%, 8/15/20 2,500,000 $2,464,115
T Rowe Price Group, Inc. 9,883 $800,325
Trswap: Jpnk400 Index Jpy Buy -2,290,919,296 $129,018
Truven Health Analytics, Inc., 10.625%, 6/1/20 80,000 $86,833
UBS Group AG 461,105 $8,648,509
Unifrax I LLC, 7.5%, 2/15/19 (144A) 200,000 $202,917
Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A) 100,000 $100,053
United Continental Holdings, Inc., 6.0%, 7/15/26 2,300,000 $2,329,133
United Rentals North America, Inc., 5.75%, 11/15/24 640,000 $674,702
Universal Hospital Services, Inc., 7.625%, 8/15/20 2,085,000 $1,844,689
Univision Communications, Inc., 5.125%, 2/15/25 (144A) 1,060,000 $1,088,863
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 58,754 $58,727
US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21 150,000 $157,692
Valero Energy Corp., 6.625%, 6/15/37 100,000 $125,381
VeriSign, Inc., 5.25%, 4/1/25 (144A) 1,020,000 $1,040,995
Vers 2015-A Zero% 31dec17 800,000 $820,800
Vertafore, Inc., Term Loan (2013), 10/3/19 95,549 $95,698
Viasystems, Inc., 7.875%, 5/1/19 (144A) 2,520,000 $2,734,988
Voya Financial, Inc., Floating Rate Note, 5/15/53 300,000 $319,903
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45 84,000 $85,831
Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46 25,000 $26,479
Wasion Group Holdings, Ltd. 202,000 $243,893
Waterjet Holdings, Inc., 7.625%, 2/1/20 (144A) 2,505,000 $2,668,347
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 100,000 $106,239
WellCare Health Plans, Inc., 5.75%, 11/15/20 1,000,000 $1,071,722
Wells Fargo & Co., Floating Rate Note (Perpetual) 2,100,000 $2,244,054
Westgate Resorts 2014-1 LLC, 5.5%, 12/20/26 (144A) 800,000 $673,265
Westgate Resorts LLC, 9.5%, 2/20/25 (144A) 5,000,000 $1,545,526
WFRBS Commercial Mortgage Trust 2011-C3, Floating Rate Note, 3/15/44 (144A) 100,000 $111,447
WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/17/48 (144A) 100,000 $99,059
Windstream Corp., 6.375%, 8/1/23 2,680,000 $2,433,775
Windstream Corp., 7.5%, 6/1/22 770,000 $762,300
Windstream Corp., 7.75%, 10/1/21 590,000 $611,388
WMG Acquisition Corp., 5.625%, 4/15/22 (144A) 1,900,000 $1,956,406
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 1,625,000 $1,590,266
WM Morrison Supermarkets Plc 821,401 $2,349,847
WR Grace & Co-Conn, 5.625%, 10/1/24 (144A) 2,350,000 $2,580,227
Wynn Macau, Ltd., 5.25%, 10/15/21 (144A) 1,120,000 $1,088,313
Xerium Technologies, Inc., 8.875%, 6/15/18 1,130,000 $1,196,254
XPO Logistics, Inc., 7.875%, 9/1/19 (144A) 1,375,000 $1,464,805
Zebra Technologies Corp., 7.25%, 10/15/22 (144A) 1,150,000 $1,277,570
Zurich Insurance Group AG 18,758 $6,349,507

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