Pioneer High Yield Fund

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

Security Name Par / Shares Market Value
14112z Zero% 01feb19 4,500,000 $4,761,450
17079z Zero% 31mar18 2,600,000 $2,643,420
AAF Holdings LLC, 12.0%, 7/1/19 (144A) (PIK) 3,152,378 $3,302,116
Acacn 5% 15mar20 144a 1,920,000 $1,936,902
Acgl Zero% 01jul16 1,500,000 $1,533,300
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 3,285,000 $3,582,407
Advanced Micro Devices, Inc., 6.75%, 3/1/19 2,495,000 $2,320,350
Advanced Micro Devices, Inc., 7.0%, 7/1/24 1,570,000 $1,381,600
AdvancePierre Foods, Inc., Term Loan (First Lien), 7/10/17 8,454 $8,476
AECOM, 5.875%, 10/15/24 (144A) 1,390,000 $1,426,352
AES Corp. Virginia, 5.5%, 3/15/24 1,650,000 $1,614,846
Aetna, Inc. 36,017 $4,590,727
Affinion Group, Inc., Tranche B Term Loan, 4/30/18 1,973,082 $1,901,557
Aguila 3 SA, 7.875%, 1/31/18 (144A) 1,700,000 $1,739,153
Alamo Re, Ltd., Floating Rate Note, 6/7/18 (Cat Bond) (144A) 500,000 $498,375
Alere, Inc., 3.0%, 5/15/16 3,380,000 $4,206,269
Alere, Inc., 3.0% (Perpetual) 6,508 $2,324,137
Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19 1,162,796 $1,160,616
Alliance One International, Inc., 9.875%, 7/15/21 7,560,000 $6,959,243
Alliant Holdings I LLC, Initial Term Loan, 12/20/19 1,230,157 $1,232,463
Allison Transmission, Inc., Term B-3 Loan, 8/23/19 7,387 $7,411
Ally Financial, Inc., 4.625%, 3/30/25 2,000,000 $1,928,382
Ally Financial, Inc., 4.625%, 5/19/22 1,250,000 $1,241,120
Ally Financial, Inc., 7.0% (Perpetual) (144A) 3,225 $3,274,887
Alpha Natural Resources, Inc., 3.75%, 12/15/17 4,705,000 $366,598
Altice Financing SA, 6.625%, 2/15/23 (144A) 1,840,000 $1,876,528
Altrl Zero% 30jun16 4,064,365 $2,367,899
Altrl Zero% 30jun17 2,800,000 $2,884,000
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) (PIK) 3,365,000 $1,452,558
Amsted Industries, Inc., 5.0%, 3/15/22 (144A) 5,795,000 $5,873,072
Antero Resources Corp., 6.0%, 12/1/20 3,360,000 $3,393,600
Apex Tool Group LLC, 7.0%, 2/1/21 (144A) 6,901,000 $6,343,169
Ardagh Finance Holdings SA, 8.625%, 6/15/19 (144A) (PIK) 3,811,008 $4,116,557
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 3,350,000 $3,520,222
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 4,300,000 $780,787
Ardent Medical Services, Inc., Term Loan (First Lien), 7/2/18 1,940,050 $1,946,516
Argos Merger Sub, Inc., 7.125%, 3/15/23 (144A) 2,710,000 $2,901,478
Arlington Flt% 01aug15 1,200,000 $1,367,160
Ascent Capital Group, Inc., 4.0%, 7/15/20 2,710,000 $2,141,766
A Schulman Inc Bridge L + 0% 27mar16 5,100,000 $5,100,000
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 2,350,000 $2,420,892
Axalta Coating Systems US Holdings, Inc., Refinanced Term B Loan, 2/1/20 1,485,460 $1,485,554
Axiall Corp. 127,734 $4,604,811
Banc of America Commercial Mortgage Trust 2007-5, Floating Rate Note, 2/10/51 2,000,000 $2,063,328
Bank of America Corp., Floating Rate Note, 10/23/49 475,000 $497,457
Bank of America Corp., Floating Rate Note, 9/29/49 4,125,000 $4,190,047
Bank of America Corp., Floating Rate Note (Perpetual) 3,175,000 $3,191,263
Bankrate, Inc., 6.125%, 8/15/18 (144A) 3,400,000 $3,376,672
BioMarin Pharmaceutical, Inc., 0.75%, 10/15/18 1,035,000 $1,598,234
BioMarin Pharmaceutical, Inc., 1.5%, 10/15/20 1,920,000 $3,063,680
Bio-Rad Laboratories, Inc. 17,131 $2,580,100
Bios 8.875% 15feb21 3,675,000 $3,246,965
BioScrip, Inc. 255,259 $926,590
BioScrip, Inc., Delayed Draw Term Loan, 7/31/20 1,232,125 $1,223,911
BioScrip, Inc., Initial Term B Loan, 7/31/20 2,053,542 $2,039,851
Bioscrip Inc. Rts Rts 742 $0
Bll 5.25% 01jul25 7,100,000 $7,026,338
Brocade Communications Systems, Inc., 1.375%, 1/1/20 (144A) 2,595,000 $2,715,352
Brookfield Residential Properties, Inc., 6.375%, 5/15/25 (144A) 2,375,000 $2,348,108
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 2,100,000 $2,096,449
Bscms Flt% 11jun40 07-Pw16 1,150,000 $1,154,960
Builders Firstsource Inc Bridge L + 7.5% 13apr16 7,410,000 $7,410,000
Caleres, Inc., 7.125%, 5/15/19 2,350,000 $2,463,045
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 2,080,000 $1,933,672
Calumet Specialty Products Partners LP, 6.5%, 4/15/21 6,525,000 $6,516,663
Cambium Learning Group, Inc., 9.75%, 2/15/17 3,695,000 $3,868,049
CAM Mortgage Trust 2014-2, Floating Rate Note, 5/15/48 (144A) 575,000 $265,141
Capital One Financial Corp. 8,038 $707,103
Capital One Financial Corp., Floating Rate Note (Perpetual) 3,875,000 $3,869,171
Cardtronics, Inc., 1.0%, 12/1/20 6,345,000 $6,231,319
Carriage Services, Inc., 2.75%, 3/15/21 2,195,000 $2,638,055
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 2,150,000 $2,310,354
CCO Holdings LLC, 6.5%, 4/30/21 9,250,000 $9,779,691
Cengage Learning Holdings II LP 13,966 $390,615
CenturyLink, Inc., 5.625%, 4/1/25 (144A) 2,765,000 $2,539,480
CenturyLink, Inc., 5.8%, 3/15/22 3,625,000 $3,523,782
CenturyLink, Inc., 6.45%, 6/15/21 3,300,000 $3,334,210
Cepheid, 1.25%, 2/1/21 3,380,000 $3,927,842
CEVA GROUP Plc 2,282 $1,700,135
CEVA GROUP Plc, 0.0%, 12/31/14 4,940 $3,680,337
Chaparral Energy, Inc., 8.25%, 9/1/21 3,310,000 $2,540,425
Charter Communications Operating L 1st Lien Bridge L + 6.625% 26may16 5,725,000 $5,725,000
Chesapeake Energy Corp., 5.375%, 6/15/21 8,435,000 $7,653,825
CHS, 8.0%, 11/15/19 11,400,000 $12,129,283
Cigna Corp. 32,251 $5,224,662
Cimpress NV, 7.0%, 3/24/22 (144A) 4,475,000 $4,682,466
Cincinnati Bell, Inc., 8.375%, 10/15/20 9,858,000 $10,549,840
Cinedigm Digital Funding I LLC, Term Loan, 2/28/18 795,408 $796,402
Citigroup, Inc., Floating Rate Note (Perpetual) 411,000 $11,249,070
Citigroup, Inc., Floating Rate Note (Perpetual) 2,375,000 $2,392,311
Citrix Systems, Inc., 0.5%, 4/15/19 2,470,000 $2,611,545
Cliffs Natural Resources, Inc., 8.25%, 3/31/20 (144A) 3,375,000 $3,259,758
Cme: (Cdx.Na.Hy.23.V4) Usd 20dec19 Z91mw60e6 27,629,015 $2,551,702
CNO Financial Group, Inc., 4.5%, 5/30/20 2,310,000 $2,357,066
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 1,935,000 $1,826,128
COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46 595,000 $525,850
Cobalt International Energy, Inc., 2.625%, 12/1/19 7,525,000 $5,570,852
COMM 2014-KYO Mortgage Trust, Floating Rate Note, 6/11/27 (144A) 2,650,000 $2,657,929
Commercial Vehicle Group, Inc. 482,433 $3,478,342
CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A) 1,890,000 $1,889,213
Communications Sales & Leasing, Inc. 117,160 $2,896,195
Compass Re II, Ltd., Floating Rate Note, 12/8/15 (Cat Bond) (144A) 550,000 $523,820
Comstock Resources, Inc., 9.5%, 6/15/20 3,580,000 $1,527,666
Concho Resources, Inc., 5.5%, 4/1/23 3,675,000 $3,725,531
Concho Resources, Inc., 6.5%, 1/15/22 2,925,000 $3,136,981
Constellation Brands, Inc., 3.75%, 5/1/21 4,100,000 $4,043,625
Constellis Holdings LLC, 9.75%, 5/15/20 (144A) 3,675,000 $3,596,141
Corsicanto, Ltd., 3.5%, 1/15/32 2,615,000 $2,853,328
Crestwood Midstream Partners LP, 6.125%, 3/1/22 4,810,000 $5,004,404
Crown Cork & Seal Co, Inc., 7.375%, 12/15/26 13,120,000 $14,770,204
CWGS Group LLC, Term Loan, 2/20/20 6,835,250 $6,882,242
Denbury Resources, Inc., 5.5%, 5/1/22 4,670,000 $4,210,783
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 4,350,000 $4,352,719
DISH DBS Corp., 5.875%, 11/15/24 3,080,000 $2,981,846
DPx Holdings BV, 7.5%, 2/1/22 (144A) 5,610,000 $6,023,738
DR Horton, Inc., 5.75%, 8/15/23 4,345,000 $4,689,221
Dycom Investments, Inc., 7.125%, 1/15/21 3,000,000 $3,233,563
DynCorp International, Inc., 10.375%, 7/1/17 2,853,000 $2,202,159
E*TRADE Financial Corp., 4.625%, 9/15/23 1,600,000 $1,595,844
EMC Corp./MA 103,800 $2,739,282
Emergent Biosolutions, Inc., 2.875%, 1/15/21 6,697,000 $8,384,691
Endologix, Inc., 2.25%, 12/15/18 3,015,000 $2,906,837
Energy Transfer Equity LP, 5.875%, 1/15/24 3,520,000 $3,745,598
Energy XXI, Ltd., 3.0%, 12/15/18 475,000 $112,258
Entegris, Inc., 6.0%, 4/1/22 (144A) 5,100,000 $5,316,750
EP Energy LLC, 9.375%, 5/1/20 13,000,000 $14,096,225
EPL Oil & Gas, Inc., 8.25%, 2/15/18 5,205,000 $3,285,223
Equinix, Inc., 5.375%, 4/1/23 5,465,000 $5,538,436
Evergreen Skills Lux Sarl, Initial Term Loan (First Lien), 4/23/21 1,985,000 $1,944,768
Evolution Escrow Issuer LLC, 7.5%, 3/15/22 (144A) 4,560,000 $4,417,500
Expert Global Solutions, Inc., Term B Advance (First Lien), 4/3/18 4,813,691 $4,825,725
Exterran Partners LP, 6.0%, 10/1/22 5,175,000 $4,993,875
Exterran Partners LP, 6.0%, 4/1/21 2,750,000 $2,695,000
Family Tree Escrow LLC, 5.75%, 3/1/23 (144A) 2,910,000 $3,100,443
Ferrellgas LP, 6.5%, 5/1/21 1,850,000 $1,865,417
Ferrellgas LP, 6.75%, 1/15/22 3,585,000 $3,705,546
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 5,400,000 $5,702,063
Fieldwood Energy LLC, Closing Date Loan (Second Lien), 9/30/20 5,168,665 $3,966,950
FireEye, Inc., 1.0%, 6/1/35 (144A) 595,000 $635,642
FireEye, Inc., 1.625%, 6/1/35 (144A) 595,000 $635,198
Flextronics International, Ltd., 4.625%, 2/15/20 1,380,000 $1,435,162
Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A) 4,250,000 $4,308,438
Flt% 15jun16 500,000 $487,450
Fly Leasing, Ltd., 6.375%, 10/15/21 5,825,000 $5,976,207
Ford Motor Co. 704,311 $10,571,708
Forest City Enterprises, Inc. 399,971 $8,839,359
Freeport-McMoRan, Inc. 264,669 $4,928,137
Frontier Communications Corp., 8.5%, 4/15/20 9,705,000 $10,320,728
Frontier Communications Corp., 8.75%, 4/15/22 3,100,000 $3,126,264
Gannett Co, Inc., 6.375%, 10/15/23 6,170,000 $6,507,550
General Cable Corp. 129,270 $2,550,497
General Cable Corp., 4.5%, 11/15/29 (Step) 10,874,000 $9,087,946
Gibraltar Industries, Inc., 6.25%, 2/1/21 1,750,000 $1,834,948
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A) 3,319,000 $715,223
Glp 7% 15jun23 144a 3,220,000 $3,180,555
GLP Capital LP, 4.375%, 11/1/18 2,075,000 $2,144,599
GLP Capital LP, 4.875%, 11/1/20 3,250,000 $3,333,281
GMAC Capital Trust I, Floating Rate Note, 2/15/40 358,975 $9,326,171
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 2,513,900 $2,404,247
GS Mortgage Securities Corp II Series 2005-GG4, Floating Rate Note, 7/10/39 2,000,000 $1,971,516
Gulfport Energy Corp., 7.75%, 11/1/20 7,615,000 $8,075,073
Halcon Resources Corp. 3,019,237 $3,502,315
Halcon Resources Corp., 0.0% (Perpetual) 715 $153,904
Halcon Resources Corp., 8.875%, 5/15/21 5,365,000 $3,588,328
HCA, Inc., 5.375%, 2/1/25 13,850,000 $14,416,956
Hexion, Inc., 6.625%, 4/15/20 1,220,000 $1,136,413
Hexion, Inc., 8.875%, 2/1/18 2,756,000 $2,589,205
Hexion, Inc., 9.0%, 11/15/20 2,445,000 $1,788,518
Hilcorp Energy I LP, 5.75%, 10/1/25 (144A) 3,470,000 $3,346,164
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 1,400,000 $906,419
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 5,580,000 $4,767,413
Iap Worldwide Services Inc 53 $42,412
Iap Worldwide Services Inc 1st Lien Tl L + 6.5% 18jul19 420,939 $412,520
Immunomedics, Inc., 4.75%, 2/15/20 (144A) 1,420,000 $1,484,393
Insulet Corp., 2.0%, 6/15/19 5,985,000 $5,795,808
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 2,950,000 $2,820,118
Ipxl 2% 15jun22 144a 4,725,000 $4,722,309
Irwd 2.25% 15jun22 144a 3,520,000 $3,450,920
j2 Global, Inc., 8.0%, 8/1/20 6,085,000 $6,774,633
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 1,990,000 $1,857,748
James River Coal Co., 7.875%, 4/1/19 4,170,000 $579,891
Jarden Corp., 1.125%, 3/15/34 5,470,000 $6,387,251
Jazz Investments I, Ltd., 1.875%, 8/15/21 (144A) 2,050,000 $2,398,927
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 4,030,000 $4,402,775
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 2,855,000 $2,681,678
Jonah Energy Llc 2nd Lien Tl L + 6.5% 08may21 3,863,910 $3,685,204
Joy Global, Inc. 68,197 $2,468,731
JPMorgan Chase & Co. 10,375 $703,010
JP Morgan Chase Commercial Mortgage Securities Trust 2014-INN, Floating Rate Note, 6/15/29 (144A) 4,270,000 $4,260,818
Kane Flt% 31jul15 3,040,000 $3,040,000
Kane Ilw Zero% 02feb16 1,500,000 $1,434,750
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,467,400 $1,479,139
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 3,014,550 $3,041,380
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,514,150 $1,522,781
Kane Sac, Ltd., 0.0%, 1/7/16 (Cat Bond) 1,261,500 $1,276,764
Kane Sac Zero% 15jun16 1,200,000 $1,151,760
Kane Zero% 15jan16 506,000 $510,655
Kane Zero% 19feb16 4,500,000 $4,784,850
Kane Zero% 22jan16 3,000,000 $3,061,200
Kane Zero% 22jan16 1,000,000 $1,022,200
Kane Zero% 29apr16 6,200,000 $6,514,960
KB Home, 1.375%, 2/1/19 11,400,000 $11,158,938
KB Home, 7.0%, 12/15/21 8,375,000 $8,673,243
KeHE Distributors LLC, 7.625%, 8/15/21 (144A) 3,635,000 $3,921,458
Kennametal, Inc. 131,756 $4,495,515
Kennedy-Wilson, Inc., 5.875%, 4/1/24 1,480,000 $1,494,338
Key Energy Services, Inc., 6.75%, 3/1/21 1,545,000 $946,313
Kilimanjaro Re, Ltd., Floating Rate Note, 11/25/19 (Cat Bond) (144A) 1,000,000 $996,275
Kinetic Concepts, Inc., Dollar Term E-1 Loan, 5/4/18 2,379,743 $2,392,013
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 7,459,000 $7,753,320
Legacy Reserves LP, 6.625%, 12/1/21 4,975,000 $4,057,216
Lennar Corp., 2.75%, 12/15/20 (144A) 3,015,000 $6,917,457
Lennar Corp., 4.5%, 6/15/19 4,150,000 $4,241,300
Lennar Corp., 4.75%, 11/15/22 8,730,000 $8,630,211
Level 3 Financing Inc 1st Lien Tl-B2 L + 2.75% 31may22 5,000,000 $4,970,315
Liberty Media Corp., 1.375%, 10/15/23 4,425,000 $4,216,595
Liberty Tire Recycling Llc 73,714 $737
Liberty Tire Recycling LLC, 11.0%, 3/31/21 (144A) (PIK) 1,886,000 $1,871,855
Linn Energy LLC, 6.25%, 11/1/19 12,635,000 $10,018,502
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 33,500 $83,750
LyondellBasell Industries NV 51,171 $5,297,222
Marathon Oil Corp. 137,800 $3,657,212
Marathon Petroleum Corp. 52,172 $2,729,117
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (PIK) 443,160 $11,713
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 5,360,000 $5,430,350
MedAssets, Inc., 8.0%, 11/15/18 1,400,000 $1,464,067
Memorial Production Partners LP, 7.625%, 5/1/21 4,480,000 $4,324,133
Mentor Graphics Corp., 4.0%, 4/1/31 5,815,000 $7,922,938
Meritage Homes Corp., 7.0%, 4/1/22 3,660,000 $3,971,100
Micron Technology, Inc., 5.25%, 8/1/23 (144A) 2,680,000 $2,627,293
Micron Technology, Inc., 5.875%, 2/15/22 1,825,000 $1,897,442
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 2,190,000 $925,731
Mj Acquisition Corp 2nd Lien L + 8% 08apr23 3,430,000 $3,449,208
MMM Holdings, Inc., MMM Term Loan, 12/12/17 744,966 $607,147
Monitronics International, Inc., 9.125%, 4/1/20 2,400,000 $2,370,750
Monitronics International, Inc., Term B Loan (2013), 3/23/18 2,673,469 $2,679,597
Morgan Stanley, Floating Rate Note (Perpetual) 189,000 $5,282,550
Morgan Stanley, Floating Rate Note (Perpetual) 4,325,000 $4,361,654
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 1,675,000 $1,827,518
MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 541,593 $441,398
NANA Development Corp., 9.5%, 3/15/19 (144A) 1,800,000 $1,769,350
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 2,557,625 $2,557,625
National Surgical Hospitals Inc 1st Lien Tl-B L + 3.5% 15may22 1,355,556 $1,355,556
Nationstar Mortgage LLC, 6.5%, 6/1/22 1,515,000 $1,392,538
Nationstar Mortgage LLC, 6.5%, 7/1/21 10,350,000 $9,974,813
Nationstar Mortgage LLC, 6.5%, 8/1/18 1,820,000 $1,869,292
Navistar International Corp., 8.25%, 11/1/21 4,850,000 $4,674,188
NCL Corp, Ltd., 5.25%, 11/15/19 (144A) 2,750,000 $2,833,760
NCR Corp. 171,011 $5,147,431
NeuStar, Inc., 4.5%, 1/15/23 5,048,000 $4,559,606
Northern Oil and Gas, Inc., 8.0%, 6/1/20 1,430,000 $1,310,833
Northern Oil and Gas, Inc., 8.0%, 6/1/20 (144A) 2,240,000 $2,059,804
NRG Energy, Inc., 6.25%, 5/1/24 1,450,000 $1,454,229
NRG Energy, Inc., 7.625%, 1/15/18 4,700,000 $5,317,626
Nuan 1.5% 01nov35 4,904,000 $5,085,876
Numericable-SFR SAS, 6.0%, 5/15/22 (144A) 1,575,000 $1,588,059
NuVasive, Inc., 2.75%, 7/1/17 2,355,000 $3,023,231
Oasis Petroleum, Inc., 6.5%, 11/1/21 2,820,000 $2,836,450
Offshore Group Investment, Ltd., 7.5%, 11/1/19 1,690,000 $1,060,475
Offshore Group Investment, Ltd., Second Term Loan, 3/28/19 2,297,125 $1,419,910
On 1% 01dec20 144a 3,200,000 $3,168,044
ON Semiconductor Corp., 2.625%, 12/15/26 1,103,000 $1,366,249
Orbital ATK, Inc. 42,036 $3,083,761
Outr 5.875% 15jun21 4,010,000 $3,759,821
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 3,100,000 $3,296,635
Pangaea Zero% 01jul18 5,120,000 $92,160
Parker Drilling Co., 7.5%, 8/1/20 2,995,000 $2,819,044
PDC Energy, Inc., 7.75%, 10/15/22 4,860,000 $5,158,215
PDL BioPharma, Inc., 4.0%, 2/1/18 4,538,000 $4,378,225
Penn Virginia Corp., 6.0% (Perpetual) (144A) 20,400 $1,166,625
Penn Virginia Corp., 7.25%, 4/15/19 2,860,000 $2,503,374
Penn Virginia Corp., 8.5%, 5/1/20 4,480,000 $4,084,267
Pfpt 0.75% 15jun20 144a 800,000 $859,733
Pilgrim's Pride Corp., 5.75%, 3/15/25 (144A) 2,425,000 $2,491,856
Pinnacle Entertainment, Inc. 18,871 $703,511
Pittsburgh Glass Works LLC, 8.0%, 11/15/18 (144A) 1,440,000 $1,530,320
Plantronics, Inc., 5.5%, 5/31/23 (144A) 1,595,000 $1,623,223
Post Holdings, Inc., 2.5% (Perpetual) (144A) 4,700 $494,969
Post Holdings, Inc., 6.0%, 12/15/22 (144A) 2,300,000 $2,219,883
Post Holdings, Inc., 6.75%, 12/1/21 (144A) 1,775,000 $1,784,984
PPL Capital Funding, Inc., 5.9%, 4/30/73 214,000 $5,300,780
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 1,595,000 $1,475,552
Quebecor Media, Inc., 5.75%, 1/15/23 5,975,000 $5,975,332
Quicken Loans, Inc., 5.75%, 5/1/25 (144A) 5,490,000 $5,304,903
Quintiles Transnational Corp., 4.875%, 5/15/23 (144A) 3,055,000 $3,090,546
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 1,750,000 $1,717,917
Regal Entertainment Group, 5.75%, 2/1/25 4,895,000 $4,896,020
Regal Entertainment Group, 5.75%, 3/15/22 425,000 $436,955
Rent-A-Center, Inc., 6.625%, 11/15/20 2,590,000 $2,553,650
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,750,000 $1,958,172
Resolute Forest Products, Inc., 5.875%, 5/15/23 3,845,000 $3,527,814
Revlon Consumer Products Corp., 5.75%, 2/15/21 2,495,000 $2,499,297
Rexel SA, 5.25%, 6/15/20 (144A) 5,200,000 $5,420,133
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 3,700,000 $3,954,067
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 7,495,000 $7,726,304
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 4,565,000 $4,963,550
Rialto Holdings LLC, 7.0%, 12/1/18 (144A) 1,800,000 $1,882,500
Rite Aid Corporation 1st Lien Bridge L + 6% 10feb16 7,530,000 $7,530,000
Rosetta Resources, Inc., 5.875%, 6/1/22 8,170,000 $8,761,474
RTI International Metals, Inc., 1.625%, 10/15/19 3,805,000 $4,139,100
Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 6,775,000 $7,069,289
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 2,000,000 $2,062,469
Sanchez Energy Corp., 6.125%, 1/15/23 1,300,000 $1,200,216
Sanchez Energy Corp., 7.75%, 6/15/21 3,775,000 $3,769,128
SandRidge Energy, Inc. 62,696 $54,984
SandRidge Energy, Inc., 7.0% (Perpetual) 33,162 $712,983
Scientific Games International, Inc., 10.0%, 12/1/22 12,050,000 $11,638,292
Scientific Games International, Inc., 6.25%, 9/1/20 700,000 $558,833
SEACOR Holdings, Inc., 3.0%, 11/15/28 2,170,000 $1,939,618
Seagate HDD Cayman, 4.75%, 1/1/25 (144A) 5,900,000 $6,003,852
Seagate HDD Cayman, 4.75%, 6/1/23 4,300,000 $4,384,393
Sealy Corp., 8.0%, 7/15/16 (PIK) 143,000 $12,143,560
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 12,321 $88,767
Sector Re V, Ltd., 0.0%, 12/1/19 (Cat Bond) (144A) 1,100,000 $1,159,730
Sector Re V, Ltd., 0.0%, 3/30/19 (Cat Bond) (144A) 2,152 $294,831
Sector Re V, Ltd., 3/1/20 (Cat Bond) (144A) 1,300,000 $1,307,280
Sector Re V, Ltd., 3/1/20 (Cat Bond) (144A) 1,000,000 $1,010,800
Shea Homes LP, 5.875%, 4/1/23 (144A) 1,500,000 $1,542,740
Ship Midco, Ltd., Facility B2A-II, 11/29/19 1,965,497 $1,979,010
Shutterfly, Inc., 0.25%, 5/15/18 7,455,000 $7,503,975
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) 2,000,000 $2,220,800
SolarCity Corp., 1.625%, 11/1/19 (144A) 4,825,000 $4,427,943
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 4,460,000 $4,338,589
Springleaf Mortgage Loan Trust 2013-1, Floating Rate Note, 6/25/58 (144A) 400,000 $414,196
Springs Industries, Inc., 6.25%, 6/1/21 2,920,000 $2,869,508
Sprint Corp., 7.25%, 9/15/21 14,235,000 $14,183,003
Standard Pacific Corp., 6.25%, 12/15/21 6,975,000 $7,412,875
Starbucks Corp. 85,794 $4,599,845
Sterigenics-Nordion Holdings LLC, 6.5%, 5/15/23 (144A) 2,210,000 $2,261,505
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 2,250,000 $2,341,641
SunEdison, Inc., 2.625%, 6/1/23 (144A) 2,605,000 $2,645,350
SunEdison, Inc., 3.375%, 6/1/25 (144A) 2,400,000 $2,488,725
Swift Energy Co., 7.875%, 3/1/22 8,170,000 $3,441,613
syncreon Group BV, 8.625%, 11/1/21 (144A) 3,500,000 $2,701,563
Talen Energy Supply LLC, 5.125%, 7/15/19 (144A) 7,360,000 $7,386,731
Talen Energy Supply LLC, 6.5%, 6/1/25 (144A) 2,250,000 $2,267,063
Targa Resources Partners LP, 4.25%, 11/15/23 4,685,000 $4,359,067
Taylor Morrison Communities, Inc., 5.875%, 4/15/23 3,195,000 $3,194,168
TE Connectivity, Ltd. 54,309 $3,492,069
Tesoro Corp., 5.375%, 10/1/22 4,695,000 $4,828,514
The GEO Group, Inc., 5.875%, 10/15/24 3,695,000 $3,851,678
The Goldman Sachs Group, Inc., Floating Rate Note (Perpetual) 3,975,000 $3,967,260
The KEYW Holding Corp., 2.5%, 7/15/19 2,150,000 $1,887,222
The Medicines Co., 2.5%, 1/15/22 (144A) 2,625,000 $2,901,719
Theravance, Inc., 2.125%, 1/15/23 7,215,000 $6,821,231
Thermo Fisher Scientific, Inc. 61,934 $8,036,556
The Ryland Group, Inc., 5.375%, 10/1/22 2,540,000 $2,599,531
TI Group Automotive Systems LLC, Term Loan Facility, 7/1/21 2,996,049 $2,992,304
T-Mobile USA, Inc., 6.5%, 1/15/24 1,200,000 $1,274,967
T-Mobile USA, Inc., 6.542%, 4/28/20 4,300,000 $4,621,612
T-Mobile USA, Inc., 6.625%, 4/1/23 3,180,000 $3,355,894
T-Mobile USA, Inc., 6.633%, 4/28/21 2,865,000 $3,053,203
T-Mobile USA, Inc., 6.731%, 4/28/22 2,000,000 $2,142,214
TMS International Corp., 7.625%, 10/15/21 (144A) 2,165,000 $2,145,725
TMX Finance LLC, 8.5%, 9/15/18 (144A) 3,265,000 $2,759,016
Tower Automotive Holdings USA LLC, Refinancing Term Loan, 4/23/20 7,973,211 $7,976,536
Tronox Finance LLC, 6.375%, 8/15/20 5,195,000 $4,943,475
Twitter, Inc., 0.25%, 9/15/19 (144A) 2,055,000 $1,838,169
U.S. Treasury Floating Rate Note, 0.085000569%, 7/31/16 5,000,000 $5,001,891
United Continental Holdings, Inc. 103,547 $5,489,026
United States Treasury Floating Rate Note, Floating Rate Note, 1/31/16 5,000,000 $5,000,471
United States Treasury Floating Rate Note, Floating Rate Note, 10/31/16 5,000,000 $5,000,525
United States Treasury Floating Rate Note, Floating Rate Note, 4/30/16 5,000,000 $5,001,678
Universal Hospital Services, Inc., 7.625%, 8/15/20 1,265,000 $1,206,564
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 1,406,400 $1,399,172
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A) 5,700,000 $5,929,940
Vanguard Natural Resources LLC, 7.875%, 4/1/20 3,200,000 $3,119,000
Vers 2015-A Zero% 31dec17 4,400,000 $4,610,320
Vertafore, Inc., Term Loan (2013), 10/3/19 667,099 $668,100
Videotron, Ltd., 5.375%, 6/15/24 (144A) 9,050,000 $9,071,619
Viking Cruises, Ltd., 6.25%, 5/15/25 (144A) 1,680,000 $1,682,858
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 4,290,000 $4,838,882
Virgin Media 1st Lien Tl-F L + 2.75% 30jun23 5,100,408 $5,057,376
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 3,755,000 $2,803,577
Volt Flt% 26jun45 15-Npl8 1,000,000 $981,560
Voya Financial, Inc., Floating Rate Note, 5/15/53 4,200,000 $4,319,572
WCA Waste Corp., Term Loan, 3/23/18 614,363 $611,867
WCP ISSUER LLC, 6.657%, 8/15/43 (144A) 3,350,000 $3,555,083
WebMD Health Corp., 1.5%, 12/1/20 5,145,000 $5,530,875
WebMD Health Corp., 2.5%, 1/31/18 6,186,000 $6,362,988
WellCare Health Plans, Inc., 5.75%, 11/15/20 6,965,000 $7,294,773
Wells Fargo & Co., 7.5% (Perpetual) 2,000 $2,350,000
Wells Fargo & Co., Floating Rate Note (Perpetual) 3,675,000 $3,772,061
WESCO Distribution, Inc., 5.375%, 12/15/21 5,145,000 $5,208,741
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 700,000 $299,409
Whiting Canadian Holding Co ULC, 8.125%, 12/1/19 5,200,000 $5,478,958
Whiting Petroleum Corp., 1.25%, 4/1/20 (144A) 3,120,000 $3,418,783
Windstream Holdings, Inc. 87,633 $559,099
Windstream Services LLC, 6.375%, 8/1/23 4,975,000 $4,180,555
Windstream Services LLC, 7.5%, 6/1/22 8,830,000 $7,814,550
Windstream Services LLC, 7.75%, 10/15/20 3,460,000 $3,443,084
WMG Acquisition Corp., 6.75%, 4/15/22 (144A) 2,665,000 $2,570,206
Wright Medical Group, Inc., 2.0%, 2/15/20 (144A) 2,610,000 $2,789,873
Xerium Technologies, Inc., 8.875%, 6/15/18 2,660,000 $2,763,592
Zero% 30nov19 5,800,000 $5,828,420
Zero% 31aug16 1,000,000 $1,007,100
ZF North America Capital, Inc., 4.75%, 4/29/25 (144A) 2,050,000 $2,001,437

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