Pioneer High Yield Fund

Top 10 Portfolio Holdings as of 2/28/2014
Default: sorted by market value

Security Name Par / Shares Market Value
Accellent, Inc., 10.0%, 11/1/17 3,875,000 $4,309,323
Accudyne Industries Borrower, 7.75%, 12/15/20 (144A) 4,550,000 $4,942,943
Activision Blizzard, Inc., 5.625%, 9/15/21 (144A) 1,725,000 $1,898,039
Activision Blizzard, Inc., 6.125%, 9/15/23 (144A) 1,185,000 $1,318,387
ADS Tactical, Inc., 11.0%, 4/1/18 (144A) 3,905,000 $3,965,042
Advanced Micro Devices, Inc., 6.75%, 3/1/19 (144A) 6,205,000 $6,241,842
AdvancePierre Foods, Inc., 7/10/17 1,301,850 $1,309,368
Aetna, Inc. 108,880 $7,916,665
Affinion Group, Inc., 10/9/16 2,003,252 $1,984,113
Aguila 3 SA, 7.875%, 1/31/18 (144A) 1,700,000 $1,817,778
Akamai Technologies, Inc., 0.0%, 2/15/19 (144A) 2,605,000 $2,637,581
Albany Molecular Research, Inc., 2.25%, 11/15/18 (144A) 3,755,000 $4,512,102
Alere, Inc., 3.0%, 12/31/49 (Perpetual) 89,308 $26,359,256
Alere, Inc., 3.0%, 5/15/16 9,460,000 $10,737,888
Alliance HealthCare Services, Inc., 6/3/19 1,194,001 $1,193,815
Alliance One International, Inc., 9.875%, 7/15/21 10,105,000 $10,333,555
Alliant Holdings I, Inc., 12/20/19 1,262,250 $1,268,758
Allison Transmission, Inc., 8/23/19 7,499 $7,519
Allison Transmission, Inc., 8/7/17 2,498 $2,501
Ally Financial, Inc., 7.0%, 12/31/49 (Perpetual) (144A) 6,450 $6,390,943
Alpha Appalachia Holdings, Inc., 3.25%, 8/1/15 1,895,000 $1,895,395
Alpha Natural Resources, Inc., 3.75%, 12/15/17 4,705,000 $4,383,492
Altair Re, Floating Rate Note, 4/30/16 (Cat Bond) 2,024,940 $2,249,101
Altrl Flt% 30jun16 3,900,000 $3,944,460
American Airlines 2013-2 Class A Pass Through Trust, 4.95%, 7/15/24 (144A) 2,100,000 $2,193,379
American Energy - Utica LLC, 3.5%, 3/1/21 (144A) 3,365,000 $3,327,948
AmeriGas Finance LLC, 7.0%, 5/20/22 8,600,000 $9,564,394
AMG Capital Trust II, 5.15%, 10/15/37 48,000 $2,938,502
Antero Resources Finance Corp., 5.375%, 11/1/21 (144A) 2,500,000 $2,599,549
Antero Resources Finance Corp., 6.0%, 12/1/20 3,360,000 $3,637,200
APERAM, 7.375%, 4/1/16 (144A) 2,615,000 $2,786,882
Approach Resources, Inc., 7.0%, 6/15/21 4,105,000 $4,288,813
Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A) 5,000,000 $5,224,375
Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A) 4,300,000 $801,023
Ardent Medical Services, Inc., 7/2/18 2,119,842 $2,135,741
Ascent Capital Group, Inc., 4.0%, 7/15/20 2,710,000 $2,671,345
Atkore International, Inc., 9.875%, 1/1/18 2,520,000 $2,753,625
Atlas Reinsurance VII, Ltd., Floating Rate Note, 1/7/16 (Cat Bond) (144A) 450,000 $478,340
Audatex North America, Inc., 6.0%, 6/15/21 (144A) 2,350,000 $2,538,392
Audatex North America, Inc., 6.125%, 11/1/23 (144A) 1,000,000 $1,089,736
Auxilium Pharmaceuticals, Inc., 1.5%, 7/15/18 9,520,000 $13,590,197
Aviv Healthcare Properties LP, 7.75%, 2/15/19 2,675,000 $2,898,214
Axalta Coating Systems US Holdings, Inc., Refinanced Term B Loan, 2/1/20 2,084,250 $2,100,044
Axiall Corp. 186,606 $7,551,945
Bankrate, Inc., 6.125%, 8/15/18 (144A) 4,400,000 $4,648,478
Basic Energy Services, Inc., 7.75%, 10/15/22 9,355,000 $10,260,356
Bayview Opportunity Master Fund Trust 2013-3RPL, 4.0%, 4/28/18 (Step) (144A) 1,000,000 $990,973
BC Mountain LLC, 7.0%, 2/1/21 (144A) 5,576,000 $5,581,298
Beazer Homes USA, Inc., 9.125%, 6/15/18 11,595,000 $12,514,065
BioMarin Pharmaceutical, Inc., 0.75%, 10/15/18 1,920,000 $2,245,840
BioMarin Pharmaceutical, Inc., 1.5%, 10/15/20 1,920,000 $2,314,880
Bio-Rad Laboratories, Inc. 46,569 $6,040,931
BioScrip, Inc. 255,259 $1,819,997
BioScrip, Inc., 7/31/20 1,436,803 $1,448,477
BioScrip, Inc., 7/31/20 2,394,672 $2,414,128
BioScrip, Inc., 8.875%, 2/15/21 (144A) 3,675,000 $3,784,995
BLAZE RECYCLING & METALS LLC/ BLAZE FINANCE CORP 4,128,459 $247,708
Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A) 250,000 $259,199
Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A) 1,500,000 $1,529,095
Boart Longyear Management Pty, Ltd., 10.0%, 10/1/18 (144A) 2,755,000 $2,955,503
Bristow Group, Inc., 6.25%, 10/15/22 4,245,000 $4,610,542
Brocade Communications Systems, Inc., 4.625%, 1/15/23 (144A) 3,865,000 $3,675,266
Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A) 2,100,000 $2,260,067
Brown Shoe Co, Inc., 7.125%, 5/15/19 2,350,000 $2,540,301
Burger King Capital Holdings LLC, 0.0%, 4/15/19 (Step) (144A) 4,090,000 $3,711,675
Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A) 1,325,000 $1,351,506
Caelus Re 2013, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A) 1,500,000 $1,572,654
Calfrac Holdings LP, 7.5%, 12/1/20 (144A) 2,435,000 $2,590,231
Calpine Corp., 5.875%, 1/15/24 (144A) 2,030,000 $2,095,989
Calpine Corp., 6.0%, 1/15/22 (144A) 2,360,000 $2,549,193
Cambium Learning Group, Inc., 9.75%, 2/15/17 3,695,000 $3,637,112
Cardtronics, Inc., 1.0%, 12/1/20 (144A) 3,045,000 $3,020,767
Carrizo Oil & Gas, Inc., 7.5%, 9/15/20 2,150,000 $2,439,354
Carrizo Oil & Gas, Inc., 8.625%, 10/15/18 10,236,000 $11,362,813
CCO Holdings LLC, 6.5%, 4/30/21 9,250,000 $10,088,024
Cengage Learning Acquisitions, Inc., 7/3/14 928,000 $864,200
CenturyLink, Inc., 5.8%, 3/15/22 3,625,000 $3,812,574
CenturyLink, Inc., 6.45%, 6/15/21 3,300,000 $3,584,185
Cepheid, Inc., 1.25%, 2/1/21 (144A) 1,905,000 $2,054,027
CEVA GROUP Plc 2,282 $2,339,112
CEVA GROUP Plc, 0.0%, 12/31/14 4,940 $4,816,549
CEVA Group Plc, 11.625%, 10/1/16 (144A) 3,205,000 $3,496,455
CEVA Logistics US Holdings, Inc., 8/31/16 1,365,849 $1,364,142
CEVA Logistics US Holdings, Inc., 8/31/16 1,971,385 $1,971,385
Chaparral Energy, Inc., 8.25%, 9/1/21 3,310,000 $3,760,988
Chemtura Corp., 5.75%, 7/15/21 2,725,000 $2,854,021
Chesapeake Energy Corp., 5.375%, 6/15/21 8,435,000 $9,121,164
Chrysler Group LLC, 8.25%, 6/15/21 7,905,000 $9,090,091
CHS, 6.875%, 2/1/22 (144A) 1,270,000 $1,359,209
CHS, 8.0%, 11/15/19 16,400,000 $18,606,711
Ciena Corp., 0.875%, 6/15/17 9,000,000 $9,320,375
Cigna Corp. 67,800 $5,396,202
Cimarex Energy Co., 5.875%, 5/1/22 3,110,000 $3,419,704
Cincinnati Bell, Inc., 8.375%, 10/15/20 13,358,000 $14,982,852
Cinedigm Digital Funding I LLC, 2/28/18 1,424,316 $1,429,657
Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step) 1,560,000 $1,428,067
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 2,490,000 $2,373,599
Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual) 411,000 $10,953,150
Clearwater Paper Corp., 4.5%, 2/1/23 2,050,000 $1,944,938
CNL Lifestyle Properties, Inc., 7.25%, 4/15/19 9,550,000 $10,289,064
Cobalt International Energy, Inc., 2.625%, 12/1/19 11,795,000 $11,459,580
Coleman Cable, Inc., 9.0%, 2/15/18 2,079,000 $2,186,069
Combine Re, Ltd., Floating Rate Note, 1/7/15 (Cat Bond) (144A) 1,250,000 $1,386,906
Commercial Vehicle Group, Inc. 565,602 $5,045,170
Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 1,400,000 $1,477,558
Comstock Resources, Inc., 7.75%, 4/1/19 3,832,000 $4,223,982
Concho Resources, Inc., 5.5%, 4/1/23 3,675,000 $3,924,594
Concho Resources, Inc., 6.5%, 1/15/22 2,925,000 $3,223,513
Constellation Brands, Inc., 3.75%, 5/1/21 4,100,000 $4,038,500
Constellation Brands, Inc., 4.25%, 5/1/23 3,235,000 $3,216,129
Corsicanto, Ltd., 3.5%, 1/15/32 4,815,000 $3,277,678
Crestwood Midstream Partners LP, 6.125%, 3/1/22 (144A) 4,810,000 $5,118,926
Crown Cork & Seal Co, Inc., 7.375%, 12/15/26 13,120,000 $14,898,671
Cubist Pharmaceuticals, Inc. 104,790 $8,332,901
Cubist Pharmaceuticals, Inc., 1.125%, 9/1/18 (144A) 4,900,000 $6,037,872
Cubist Pharmaceuticals, Inc., 1.875%, 9/1/20 (144A) 6,805,000 $8,592,376
CWGS Group LLC, Term Loan, 2/20/20 7,195,000 $7,248,963
DAE Aviation Holdings, Inc., Replacement Tranche B-1 Loan, 11/2/18 1,947,812 $1,977,837
Dana Holding Corp., 6.0%, 9/15/23 4,650,000 $4,974,725
Denbury Resources, Inc., 4.625%, 7/15/23 5,520,000 $5,235,222
DFC Global Corp., 2.875%, 6/30/27 4,150,000 $3,848,592
DFC Global Corp., 3.25%, 4/15/17 1,200,000 $976,983
DigitalGlobe, Inc., 5.25%, 2/1/21 (144A) 4,350,000 $4,325,531
DR Horton, Inc., 5.75%, 8/15/23 5,045,000 $5,297,530
DryShips, Inc., 5.0%, 12/1/14 2,529,000 $2,530,581
DuPont Fabros Technology LP, 5.875%, 9/15/21 1,000,000 $1,080,622
Dycom Investments, Inc., 7.125%, 1/15/21 3,000,000 $3,267,313
DynCorp International, Inc., 10.375%, 7/1/17 3,953,000 $4,199,239
East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A) 1,500,000 $1,569,981
East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A) 400,000 $439,460
EGL, Inc., 8/31/16 3,702,650 $3,701,502
Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A) 500,000 $516,721
EMC Corp./MA 103,800 $2,737,206
Emdeon, Inc., 11.0%, 12/31/19 3,315,000 $3,890,613
Emergent Biosolutions, Inc., 2.875%, 1/15/21 (144A) 4,130,000 $4,406,423
Emulex Corp., 1.75%, 11/15/18 (144A) 3,295,000 $3,350,626
Endologix, Inc., 2.25%, 12/15/18 3,015,000 $2,884,759
Energy XXI Gulf Coast, Inc., 7.5%, 12/15/21 (144A) 3,865,000 $4,100,121
Entegris Inc Bridge L + 0% 04feb15 3,085,000 $3,085,000
EP Energy LLC, 9.375%, 5/1/20 13,000,000 $15,453,750
EPL Oil & Gas, Inc., 8.25%, 2/15/18 5,205,000 $5,640,485
Equinix, Inc., 5.375%, 4/1/23 5,465,000 $5,669,368
ESCO Technologies, Inc. 62,422 $2,237,204
Essar Steel Algoma, Inc., 9.875%, 6/15/15 (144A) 9,255,000 $7,134,191
Expert Global Solutions, Inc., 4/3/18 14,106,537 $14,053,638
Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A) 1,900,000 $649,822
Exterran Holdings, Inc., 7.25%, 12/1/18 1,725,000 $1,855,453
Exterran Partners LP, 6.0%, 4/1/21 2,750,000 $2,791,250
Fannie Mae, 0.5%, 12/15/33 (144A) 3,310,000 $3,572,042
Ferrellgas LP, 6.5%, 5/1/21 2,750,000 $2,933,333
Ferrellgas LP, 6.75%, 1/15/22 (144A) 1,320,000 $1,408,358
Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A) 5,400,000 $5,894,438
Fieldwood Energy LLC, 9/30/20 5,168,665 $5,383,811
Fifth Third Bancorp, Floating Rate Note, 12/31/49 (Perpetual) 151,950 $4,031,234
First Data Corp., 12.625%, 1/15/21 6,047,000 $7,323,715
First Data Corp., 8.25%, 1/15/21 (144A) 4,722,000 $5,173,148
Flextronics International, Ltd., 4.625%, 2/15/20 1,380,000 $1,408,712
Flextronics International, Ltd., 5.0%, 2/15/23 2,295,000 $2,325,919
Ford Motor Co., 4.25%, 11/15/16 9,341,000 $16,954,045
Forest City Enterprises, Inc. 618,631 $12,050,932
Forest City Enterprises, Inc., 3.625%, 8/15/20 (144A) 4,885,000 $5,131,014
Forest Laboratories, Inc., 4.375%, 2/1/19 (144A) 3,625,000 $3,892,407
Foundation Re III, Ltd., Floating Rate Note, 2/25/15 (Cat Bond) (144A) 1,500,000 $1,535,908
Freeport-McMoRan Copper & Gold, Inc. 483,460 $15,770,465
Frontier Communications Corp., 7.125%, 1/15/23 4,750,000 $5,018,870
Frontier Communications Corp., 8.5%, 4/15/20 9,705,000 $11,520,913
Frontier Communications Corp., 8.75%, 4/15/22 3,100,000 $3,651,972
FTS International, Inc., 5/6/16 7,538,153 $7,657,957
Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A) 1,800,000 $1,892,310
Gannett Co, Inc., 6.375%, 10/15/23 (144A) 7,170,000 $7,752,264
Gardner Denver, Inc., 6.875%, 8/15/21 (144A) 6,265,000 $6,425,106
General Cable Corp. 667,230 $20,537,339
General Cable Corp., 4.5%, 11/15/29 (Step) 10,874,000 $12,420,524
Gentiva Health Services, Inc., 10/10/19 8,280,000 $8,373,150
Gentiva Health Services, Inc., 11.5%, 9/1/18 3,429,000 $3,857,625
Gibraltar Industries, Inc., 6.25%, 2/1/21 2,750,000 $2,915,573
Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 3,319,000 $1,021,783
GLP Capital LP, 4.375%, 11/1/18 (144A) 3,075,000 $3,235,530
GLP Capital LP, 4.875%, 11/1/20 (144A) 5,750,000 $6,045,466
GMAC Capital Trust I, Floating Rate Note, 2/15/40 358,975 $9,746,171
GMAT 2013-1 Trust, Floating Rate Note, 8/25/53 2,513,900 $2,416,475
Green Field Energy Services, Inc., 0.0%, 11/15/16 (144A) 54,000 $16,484
Green Field Energy Services, Inc., 11/15/21 (144A) 2,275 $2,298
GS Mortgage Securities Corp II Series 2004-GG2, Floating Rate Note, 8/10/38 1,000,000 $1,004,858
Gulfport Energy Corp., 7.75%, 11/1/20 7,615,000 $8,420,921
Halcon Resources Corp. 2,465 $9,392
Halcon Resources Corp., 5.75%, 12/31/49 (Perpetual) 715 $531,960
Halcon Resources Corp., 8.875%, 5/15/21 7,255,000 $7,571,550
Halcon Resources Corp., 9.25%, 2/15/22 (144A) 3,225,000 $3,318,883
Hercules Offshore, Inc. 127,237 $605,648
Hexion US Finance Corp., 8.875%, 2/1/18 2,756,000 $2,893,513
Hexion US Finance Corp., 9.0%, 11/15/20 2,445,000 $2,577,030
Hologic, Inc., 2.0%, 12/15/37 (Step) 2,505,000 $2,885,064
Hologic, Inc., 2.0%, 3/1/42 (Step) 3,450,000 $3,575,063
Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A) 1,400,000 $1,148,974
Horizon Lines, Inc. 4,099,666 $2,992,756
Host Hotels & Resorts LP, 2.5%, 10/15/29 (144A) 2,835,000 $4,323,572
Hunter Defense Technologies, Inc., 8/22/14 1,759,457 $1,601,106
IAC, 4.875%, 11/30/18 (144A) 1,990,000 $2,103,140
IAMGOLD Corp., 6.75%, 10/1/20 (144A) 6,445,000 $5,852,866
IAP Worldwide Services, Inc., 12/31/15 1,622,731 $515,217
Ibis Re II, Ltd., Floating Rate Note, 2/5/15 (Cat Bond) (144A) 1,500,000 $1,614,038
Ibis Re II, Ltd., Floating Rate Note, 2/5/15 (Cat Bond) (144A) 1,200,000 $1,253,875
Incyte Corp, Ltd., 1.25%, 11/15/20 (144A) 1,735,000 $2,513,521
INEOS Group Holdings SA, 5.875%, 2/15/19 2,050,000 $2,115,849
ING US, Inc., Floating Rate Note, 5/15/53 4,200,000 $4,185,872
Intelsat Jackson Holdings SA, 6.625%, 12/15/22 (144A) 1,150,000 $1,229,334
Intelsat Luxembourg SA, 7.75%, 6/1/21 (144A) 3,900,000 $4,272,938
International Equipment Solutions LLC, 8/16/19 3,025,000 $3,038,234
Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A) 2,950,000 $3,056,528
Iron Mountain, Inc., 6.0%, 8/15/23 4,725,000 $5,032,913
Itron, Inc. 189,871 $6,645,485
j2 Global, Inc., 8.0%, 8/1/20 6,085,000 $6,658,004
Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A) 1,990,000 $2,239,994
James River Coal Co., 10.0%, 6/1/18 (144A) 459,000 $80,325
James River Coal Co., 7.875%, 4/1/19 4,170,000 $835,303
JB Poindexter & Co, Inc., 9.0%, 4/1/22 (144A) 4,030,000 $4,463,225
Jefferies Finance LLC, 7.375%, 4/1/20 (144A) 3,990,000 $4,342,034
JLL, 7.5%, 2/1/22 (144A) 5,610,000 $5,752,588
JMC Steel Group, Inc., 8.25%, 3/15/18 (144A) 2,855,000 $3,077,809
Joy Global, Inc. 109,200 $6,006,000
JPMorgan Chase & Co., 5.0%, 12/20/15 5,295,000 $384,683
Kane-Pi3 Flt% 07apr15 1,255,400 $1,261,602
Kane- Pi3 Zero% 18jul16 4,010,500 $4,058,626
KB Home, 1.375%, 2/1/19 11,400,000 $12,339,313
KB Home, 7.0%, 12/15/21 8,375,000 $9,180,861
KeHE Distributors LLC, 7.625%, 8/15/21 (144A) 3,635,000 $3,865,419
Kennametal, Inc. 139,920 $6,120,101
Key Energy Services, Inc., 6.75%, 3/1/21 2,555,000 $2,762,594
Kindred Healthcare, Inc., 8.25%, 6/1/19 5,700,000 $6,259,313
Kinetic Concepts, Inc., Dollar Term E-1 Loan, 5/4/18 2,415,982 $2,427,458
Kodiak Oil & Gas Corp., 5.5%, 1/15/21 1,400,000 $1,451,839
Kodiak Oil & Gas Corp., 5.5%, 2/1/22 3,000,000 $3,096,250
Kodiak Oil & Gas Corp., 8.125%, 12/1/19 5,200,000 $5,890,625
Lam Research Corp., 1.25%, 5/15/18 5,491,000 $6,571,659
Lantheus Medical Imaging, Inc., 9.75%, 5/15/17 9,859,000 $9,451,905
Lear Corp., 11/9/14 2,230 $356,800
Legacy Reserves LP, 6.625%, 12/1/21 (144A) 3,350,000 $3,371,984
Lennar Corp., 2.75%, 12/15/20 (144A) 3,015,000 $6,087,076
Lennar Corp., 4.5%, 6/15/19 4,150,000 $4,248,044
Lennar Corp., 4.75%, 11/15/22 8,730,000 $8,459,249
Liberty Media Corp., 1.375%, 10/15/23 (144A) 4,425,000 $4,325,960
Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A) 2,400,000 $2,438,000
Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A) 3,860,000 $3,974,594
Linn Energy LLC, 7.0%, 11/1/19 (144A) 16,435,000 $17,516,971
Live Nation Entertainment, Inc., 7.0%, 9/1/20 (144A) 5,300,000 $6,002,250
LKQ Corp., 4.75%, 5/15/23 (144A) 1,300,000 $1,256,432
Longpoint Re, Ltd. III, Floating Rate Note, 5/18/16 (Cat Bond) (144A) 1,500,000 $1,530,167
LORENZO RE, Ltd., 0.0%, 12/31/49 (Cat Bond) (Perpetual) 33,500 $3,861,210
LyondellBasell Industries NV 120,499 $10,613,552
Marathon Oil Corp. 147,800 $4,951,300
Marathon Petroleum Corp. 73,900 $6,207,600
Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 14,887,110 $2,638,947
MDC Partners, Inc., 6.75%, 4/1/20 (144A) 4,235,000 $4,639,972
MedAssets, Inc., 8.0%, 11/15/18 1,400,000 $1,539,728
Memorial Production Partners LP, 7.625%, 5/1/21 (144A) 3,350,000 $3,619,396
Mentor Graphics Corp., 4.0%, 4/1/31 5,815,000 $7,322,054
Meritage Homes Corp., 7.0%, 4/1/22 3,660,000 $4,114,450
Meritor, Inc., 6.75%, 6/15/21 3,240,000 $3,488,670
MGM Resorts International, 6.75%, 10/1/20 3,000,000 $3,399,375
Micron Technology, Inc., 5.875%, 2/15/22 (144A) 1,825,000 $1,913,379
Midstates Petroleum Co, Inc., 10.75%, 10/1/20 4,155,000 $4,746,222
Midstates Petroleum Co, Inc., 9.25%, 6/1/21 2,800,000 $3,025,750
Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) 8,775,000 $5,411,494
MISA Investments, Ltd., 8.625%, 8/15/18 (144A) (PIK) 4,815,000 $4,989,945
MMM Holdings, Inc., 12/12/17 1,076,531 $1,087,969
Molina Healthcare, Inc., 1.125%, 1/15/20 (144A) 4,225,000 $4,722,230
Monitronics International, Inc., 3/23/18 6,008,364 $6,039,656
Monitronics International, Inc., 9.125%, 4/1/20 2,400,000 $2,665,250
Morgan Stanley, Floating Rate Note, 12/31/49 (Perpetual) 189,000 $5,053,860
MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A) 1,675,000 $1,795,414
MSO of Puerto Rico, Inc., 12/12/17 782,932 $788,804
Mueller Water Products, Inc., 7.375%, 6/1/17 7,076,000 $7,401,054
Murray Energy Corp., 8.625%, 6/15/21 (144A) 1,900,000 $2,048,596
Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A) 2,750,000 $2,980,358
Mythen Re, Ltd., Floating Rate Note, 5/7/15 (Cat Bond) (144A) 1,450,000 $1,569,685
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A) 1,325,000 $1,432,654
Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A) 675,000 $730,863
Mythen Re, Ltd. Series 2013-1 Class B, Floating Rate Note, 7/9/15 (Cat Bond) (144A) 500,000 $525,917
NANA Development Corp., 9.5%, 3/15/19 (144A) 1,800,000 $1,943,275
National Mentor Holdings, Inc., Tranche B Term Loan, 1/31/21 2,590,000 $2,610,505
National Money Mart Co., 10.375%, 12/15/16 12,630,000 $12,859,270
National Surgical Hospitals, Inc., 8/1/19 1,521,188 $1,526,892
Nationstar Mortgage LLC, 6.5%, 6/1/22 5,015,000 $4,783,056
Nationstar Mortgage LLC, 6.5%, 7/1/21 6,275,000 $6,013,542
Nationstar Mortgage LLC, 6.5%, 8/1/18 1,820,000 $1,843,508
Navistar International Corp., 8.25%, 11/1/21 6,850,000 $7,346,625
Neiman Marcus Group, Ltd. LLC, 10/18/20 1,630,913 $1,651,752
Neiman Marcus Group, Ltd. LLC, 8.0%, 10/15/21 (144A) 10,640,000 $11,718,778
NeuStar, Inc., 4.5%, 1/15/23 2,900,000 $2,517,925
North Atlantic Drilling, Ltd., 6.25%, 2/1/19 (144A) 5,000,000 $5,001,910
Northern Oil and Gas, Inc., 8.0%, 6/1/20 4,125,000 $4,475,625
Novellus Systems, Inc., 2.625%, 5/15/41 12,760,000 $20,817,674
NRG Energy, Inc., 7.625%, 1/15/18 4,700,000 $5,356,792
NRG Energy, Inc., 7.875%, 5/15/21 4,700,000 $5,325,981
NRG Energy, Inc., 8.25%, 9/1/20 7,850,000 $9,037,313
Nuance Communications, Inc., 2.75%, 11/1/31 19,972,000 $19,980,322
Nu Skin Enterprises, Inc. 24,493 $2,100,765
NuStar Logistics LP, Floating Rate Note, 1/15/43 130,000 $3,477,500
NuVasive, Inc., 2.75%, 7/1/17 459,000 $533,683
Oasis Petroleum, Inc., 6.5%, 11/1/21 2,820,000 $3,106,700
Offshore Group Investment, Ltd., 3/28/19 2,332,375 $2,367,361
Offshore Group Investment, Ltd., 7.125%, 4/1/23 4,000,000 $4,208,750
Offshore Group Investment, Ltd., 7.5%, 11/1/19 3,650,000 $4,024,125
ON Semiconductor Corp., 2.625%, 12/15/26 16,914,000 $20,697,098
Orbital Sciences Corp. 179,729 $5,107,898
Oxford Finance LLC, 7.25%, 1/15/18 (144A) 3,100,000 $3,310,843
Pacific Drilling SA, 5.375%, 6/1/20 (144A) 3,450,000 $3,539,484
Pacira Pharmaceuticals, Inc. Delaware, 3.25%, 2/1/19 770,000 $2,455,979
Packaging Dynamics Corp., 8.75%, 2/1/16 (144A) 2,915,000 $3,012,774
Pangaea Re, 0.0%, 10/1/15 (Cat Bond) 3,650,000 $3,988,939
Parker Drilling Co., 7.5%, 8/1/20 (144A) 2,995,000 $3,223,369
Park-Ohio Industries, Inc., 8.125%, 4/1/21 4,025,000 $4,614,076
PATHEON INC, Bridge Loan, 12/11/14 10,700,000 $10,700,000
PC Nextco Holdings LLC, 8.75%, 8/15/19 (144A) (PIK) 2,805,000 $2,907,071
PDC Energy, Inc., 7.75%, 10/15/22 4,960,000 $5,564,018
PDL BioPharma, Inc., 3.75%, 5/1/15 1,115,000 $1,556,122
PDL BioPharma, Inc., 4.0%, 2/1/18 3,375,000 $3,477,047
Penn Virginia Corp., 7.25%, 4/15/19 5,845,000 $6,253,501
Penn Virginia Corp., 8.5%, 5/1/20 4,995,000 $5,636,025
PetroQuest Energy, Inc., 6.875%, 12/31/49 (Perpetual) 59,180 $1,958,491
Pioneer Energy Services Corp., 9.875%, 3/15/18 6,400,000 $7,035,422
Pittsburgh Glass Works LLC, 8.0%, 11/15/18 (144A) 2,400,000 $2,674,133
Polymet Mining Corp. 2,380,800 $2,714,112
Post Holdings, Inc., 2.5%, 12/31/49 (Perpetual) (144A) 73,300 $8,305,806
PPL Capital Funding, Inc., 5.9%, 4/30/73 214,000 $4,819,280
Preferred Proppants LLC, 12/15/16 7,426,900 $5,780,601
Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A) 1,595,000 $1,833,098
QR Energy LP, 9.25%, 8/1/20 3,075,000 $3,329,328
Quebecor Media, Inc., 5.75%, 1/15/23 5,975,000 $6,122,217
Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 2,000,000 $2,085,383
Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A) 1,450,000 $1,547,964
Queen Street VI Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 250,000 $268,453
Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A) 1,150,000 $1,212,058
Rain CII Carbon LLC, 8.0%, 12/1/18 (144A) 1,750,000 $1,863,750
Range Resources Corp., 5.0%, 3/15/23 5,000,000 $5,202,778
Regal Entertainment Group, 5.75%, 2/1/25 4,895,000 $4,802,199
Regal Entertainment Group, 5.75%, 3/15/22 2,325,000 $2,377,313
Rent-A-Center, Inc., 4.75%, 5/1/21 2,590,000 $2,482,083
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/15 (Cat Bond) (144A) 2,000,000 $2,192,569
Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 800,000 $864,368
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A) 3,450,000 $3,757,855
Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 1,750,000 $1,875,499
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 2,100,000 $2,361,039
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 250,000 $264,569
Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A) 950,000 $1,114,883
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 500,000 $560,094
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,750,000 $2,180,228
Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A) 1,100,000 $1,249,612
Residential Reinsurance 2013, Ltd., Floating Rate Note, 12/6/17 (Cat Bond) (144A) 250,000 $250,825
Residential Reinsurance 2013, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A) 800,000 $851,072
Resolute Forest Products, Inc., 5.875%, 5/15/23 (144A) 5,570,000 $5,554,953
Revlon Consumer Products Corp., 5.75%, 2/15/21 2,495,000 $2,501,376
Rexel SA, 5.25%, 6/15/20 (144A) 5,200,000 $5,348,633
Reynolds Group Issuer, Inc., 8.25%, 2/15/21 6,700,000 $7,344,317
Reynolds Group Issuer, Inc., 8.5%, 5/15/18 7,495,000 $8,076,071
Reynolds Group Issuer, Inc., 9.0%, 4/15/19 800,000 $887,200
Reynolds Group Issuer, Inc., 9.875%, 8/15/19 5,675,000 $6,423,469
Richland Towers Funding LLC, 7.87%, 3/15/16 (144A) 2,300,000 $2,444,143
RKI Exploration & Production LLC, 8.5%, 8/1/21 (144A) 7,285,000 $7,882,977
Rosetta Resources, Inc., 5.875%, 6/1/22 8,170,000 $8,536,005
RTI International Metals, Inc., 1.625%, 10/15/19 3,805,000 $3,759,393
Sabine Pass Liquefaction LLC, 5.875%, 2/1/21 (144A) 9,380,000 $9,660,423
Safway Group Holding LLC, 7.0%, 5/15/18 (144A) 2,000,000 $2,166,222
Salix Pharmaceuticals, Ltd., 1.5%, 3/15/19 5,270,000 $9,354,470
Sanchez Energy Corp., 7.75%, 6/15/21 (144A) 5,075,000 $5,386,408
Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A) 1,600,000 $1,608,551
SanDisk Corp., 0.5%, 10/15/20 (144A) 6,535,000 $6,885,076
SandRidge Energy, Inc., 7.0%, 12/31/49 (Perpetual) 33,162 $3,401,178
Schaeffler Holding Finance BV, 6.875%, 8/15/18 (144A) (PIK) 2,690,000 $2,873,069
Scientific Games International, Inc., 9.25%, 6/15/19 3,218,000 $3,481,965
SEACOR Holdings, Inc., 3.0%, 11/15/28 (144A) 2,170,000 $2,161,049
Seagate HDD Cayman, 4.75%, 6/1/23 (144A) 4,300,000 $4,243,563
Seagate HDD Cayman, 7.0%, 11/1/21 5,100,000 $5,771,500
Sealy Corp., 8.0%, 7/15/16 (PIK) 143,000 $11,332,750
Sector Re V, Ltd., 0.0%, 12/1/17 (Cat Bond) (144A) 13,799 $0
Sector Re V, Ltd., 0.0%, 12/1/18 (Cat Bond) (144A) 2,150,000 $2,190,635
Sector Re V, Ltd., 0.0%, 3/1/18 (Cat Bond) (144A) 3,300,000 $4,116,750
Seitel, Inc., 9.5%, 4/15/19 2,955,000 $3,142,314
ServiceNow, Inc., 0.0%, 11/1/18 (144A) 4,335,000 $4,998,797
Shelf Drilling Holdings, Ltd., 8.625%, 11/1/18 (144A) 6,910,000 $7,644,188
Ship Midco, Ltd., 11/29/19 2,469,527 $2,496,692
Shutterfly, Inc., 0.25%, 5/15/18 (144A) 7,455,000 $8,219,966
Silverton RE, Ltd., 0.0%, 9/16/16 (Cat Bond) (144A) 2,000,000 $2,051,400
SM Energy Co., 6.5%, 11/15/21 3,085,000 $3,406,268
Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A) 4,460,000 $4,435,222
Springleaf Mortgage Loan Trust, Floating Rate Note, 6/25/58 (144A) 400,000 $399,990
Sprint Corp., 7.25%, 9/15/21 (144A) 2,490,000 $2,811,798
Standard Aero, Ltd., 11/2/18 883,010 $896,991
Standard Pacific Corp., 6.25%, 12/15/21 6,975,000 $7,537,844
Starbucks Corp. 59,425 $4,216,798
Steel Dynamics, Inc., 5.125%, 6/15/14 4,830,000 $5,313,939
Stone Energy Corp., 7.5%, 11/15/22 1,945,000 $2,138,690
Successor X, Ltd., Floating Rate Note, 1/27/15 (Cat Bond) (144A) 875,000 $943,308
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 1,200,000 $1,260,092
Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A) 375,000 $403,439
SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A) 2,250,000 $2,398,828
Surgery Center Holdings, Inc., 4/11/19 1,935,525 $1,940,364
Swift Energy Co., 7.875%, 3/1/22 14,720,000 $15,803,116
syncreon Group BV, 8.625%, 11/1/21 (144A) 3,500,000 $3,743,141
Talos Production LLC, 9.75%, 2/15/18 (144A) 3,000,000 $3,163,000
Targa Resources Partners LP, 4.25%, 11/15/23 (144A) 5,985,000 $5,700,796
Tar Heel Re, Ltd., Floating Rate Note, 5/9/16 (Cat Bond) (144A) 1,000,000 $1,081,664
TE Connectivity, Ltd. 80,483 $4,714,694
Tenet Healthcare Corp., 4.375%, 10/1/21 2,850,000 $2,835,156
Tesoro Corp., 5.375%, 10/1/22 5,445,000 $5,743,908
Texas Industries, Inc., 9.25%, 8/15/20 2,300,000 $2,677,456
The Goodyear Tire & Rubber Co., 7.0%, 5/15/22 2,765,000 $3,139,965
The Hertz Corp., 6.25%, 10/15/22 775,000 $838,265
The Howard Hughes Corp., 6.875%, 10/1/21 (144A) 2,840,000 $3,077,012
Theravance, Inc., 2.125%, 1/15/23 9,215,000 $13,732,334
Thermo Fisher Scientific, Inc. 99,726 $12,419,876
The Ryland Group, Inc., 0.25%, 6/1/19 2,870,000 $2,803,631
The Ryland Group, Inc., 5.375%, 10/1/22 2,540,000 $2,552,435
TIBCO Software, Inc., 2.25%, 5/1/32 3,900,000 $3,965,813
TI Group Automotive Systems LLC, 3/28/19 3,033,973 $3,055,781
T-Mobile USA, Inc., 6.125%, 1/15/22 965,000 $1,035,700
T-Mobile USA, Inc., 6.5%, 1/15/24 1,200,000 $1,293,667
T-Mobile USA, Inc., 6.542%, 4/28/20 4,300,000 $4,680,536
T-Mobile USA, Inc., 6.633%, 4/28/21 2,865,000 $3,118,782
T-Mobile USA, Inc., 6.731%, 4/28/22 2,000,000 $2,172,340
TMS International Corp., 7.625%, 10/15/21 (144A) 2,165,000 $2,400,105
TMX Finance LLC, 8.5%, 9/15/18 (144A) 3,265,000 $3,735,069
Tower Automotive Holdings USA LLC, Refinancing Term Loan, 4/23/20 8,555,458 $8,566,152
Tradewynd Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A) 250,000 $252,532
Tronox Finance LLC, 6.375%, 8/15/20 5,195,000 $5,352,582
tw telecom holdings inc, 5.375%, 10/1/22 2,840,000 $2,960,404
Unit Corp., 6.625%, 5/15/21 3,425,000 $3,714,436
United Airlines, Inc., 4.5%, 1/15/15 2,575,000 $6,178,713
United Airlines 2013-1 Class B Pass Through Trust, 5.375%, 8/15/21 2,525,000 $2,606,782
United Continental Holdings, Inc., 6.0%, 12/1/20 2,690,000 $2,851,624
United Continental Holdings, Inc., 6.0%, 7/15/26 3,200,000 $3,040,533
United States Steel Corp., 2.75%, 4/1/19 2,475,000 $3,001,453
Universal Hospital Services, Inc., 7.625%, 8/15/20 1,265,000 $1,364,162
Univision Communications, Inc., 6.875%, 5/15/19 (144A) 9,280,000 $10,163,856
Univision Communications, Inc., Replacement First-Lien Term Loan, 3/1/20 1,428,224 $1,433,729
USI, Inc. New York, 7.75%, 1/15/21 (144A) 4,900,000 $5,144,524
Valeant Pharmaceuticals International, 6.375%, 10/15/20 (144A) 6,090,000 $6,799,993
Vanguard Natural Resources LLC, 7.875%, 4/1/20 4,700,000 $5,218,469
Vertafore, Inc., 10/3/19 673,163 $677,581
Vertex Pharmaceuticals, Inc. 25,556 $2,066,458
ViaSat, Inc., 6.875%, 6/15/20 3,000,000 $3,234,792
Viasystems, Inc., 7.875%, 5/1/19 (144A) 5,300,000 $5,830,000
Viking Cruises, Ltd., 8.5%, 10/15/22 (144A) 4,290,000 $5,017,632
Virgin Media Investment Holdings, Ltd., 6/8/20 7,575,000 $7,575,000
Virtual Radiologic Corp., 12/22/16 1,479,250 $924,531
Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A) 3,755,000 $3,423,152
Waters Corp. 25,683 $2,861,086
WCA Waste Corp., 3/23/18 623,888 $626,149
WCP ISSUER LLC, 6.657%, 8/15/20 (144A) 3,350,000 $3,486,316
WebMD Health Corp., 1.5%, 12/1/20 (144A) 5,145,000 $5,461,203
WebMD Health Corp., 2.5%, 1/31/18 6,420,000 $6,578,271
WellCare Health Plans, Inc., 5.75%, 11/15/20 5,970,000 $6,325,754
Wells Fargo & Co., 7.5%, 12/31/49 (Perpetual) 2,000 $2,356,000
WESCO Distribution, Inc., 5.375%, 12/15/21 (144A) 5,145,000 $5,308,014
Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A) 700,000 $519,126
WEX, Inc., 4.75%, 2/1/23 (144A) 2,950,000 $2,784,677
Windstream Corp., 6.375%, 8/1/23 5,275,000 $5,223,898
Windstream Corp., 7.5%, 6/1/22 11,030,000 $11,898,613
Windstream Corp., 7.75%, 10/15/20 8,460,000 $9,342,190
Windstream Holdings, Inc. 585,800 $4,698,116
Xerium Technologies, Inc., 8.875%, 6/15/18 2,660,000 $2,896,038
Xilinx, Inc., 3.125%, 3/15/37 813,000 $1,459,363

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