|
Principal
Amount ($) (a)
|
|
Value ($)
|
|
|
|
|
Consumer Discretionary 20.7%
|
|
AMC Entertainment, Inc., 8.75%, 6/1/2019
|
|
|
1,280,000
|
|
1,369,600
|
|
AMC Networks, Inc., 7.75%, 7/15/2021
|
|
|
720,000
|
|
786,600
|
|
AmeriGas Finance LLC:
|
|
|
|
|
|
|
|
|
|
6.75%, 5/20/2020
|
|
|
990,000
|
|
1,024,650
|
|
|
7.0%, 5/20/2022
|
|
|
990,000
|
|
1,012,275
|
|
APX Group, Inc., 144A, 6.375%, 12/1/2019
|
|
|
1,895,000
|
|
1,800,250
|
|
Asbury Automotive Group, Inc.:
|
|
|
|
|
|
|
|
|
|
8.375%, 11/15/2020
|
|
|
3,510,000
|
|
3,887,325
|
|
|
144A, 8.375%, 11/15/2020
|
|
|
450,000
|
|
498,375
|
|
Ashtead Capital, Inc., 144A, 6.5%, 7/15/2022
|
|
|
3,500,000
|
|
3,648,750
|
|
Ashton Woods U.S.A. LLC, 144A, 6.875%, 2/15/2021
|
|
|
3,130,000
|
|
3,161,300
|
|
Avis Budget Car Rental LLC:
|
|
|
|
|
|
|
|
|
|
144A, 5.5%, 4/1/2023
|
|
|
1,845,000
|
|
1,780,425
|
|
|
8.25%, 1/15/2019
|
|
|
8,120,000
|
|
8,830,500
|
|
BC Mountain LLC, 144A, 7.0%, 2/1/2021
|
|
|
1,870,000
|
|
1,907,400
|
|
Block Communications, Inc., 144A, 7.25%, 2/1/2020
|
|
|
3,469,000
|
|
3,642,450
|
|
Boyd Gaming Corp., 9.0%, 7/1/2020 (b)
|
|
|
1,400,000
|
|
1,419,250
|
|
Bresnan Broadband Holdings LLC, 144A, 8.0%, 12/15/2018
|
|
|
3,950,000
|
|
4,305,500
|
|
Cablevision Systems Corp., 8.0%, 4/15/2020
|
|
|
520,000
|
|
566,800
|
|
Caesar's Entertainment Operating Co., Inc., 8.5%, 2/15/2020 (b)
|
|
|
6,905,000
|
|
6,507,962
|
|
Caesar's Operating Escrow LLC, 144A, 9.0%, 2/15/2020
|
|
|
2,380,000
|
|
2,266,950
|
|
Carlson Wagonlit BV, 144A, 6.875%, 6/15/2019
|
|
|
1,935,000
|
|
1,954,350
|
|
CCO Holdings LLC:
|
|
|
|
|
|
|
|
|
|
6.5%, 4/30/2021
|
|
|
2,680,000
|
|
2,793,900
|
|
|
6.625%, 1/31/2022
|
|
|
4,060,000
|
|
4,232,550
|
|
|
7.0%, 1/15/2019 (b)
|
|
|
6,185,000
|
|
6,556,100
|
|
|
7.375%, 6/1/2020
|
|
|
490,000
|
|
532,875
|
|
|
8.125%, 4/30/2020
|
|
|
1,200,000
|
|
1,311,000
|
|
CDR DB Sub, Inc., 144A, 7.75%, 10/15/2020
|
|
|
2,140,000
|
|
2,145,350
|
|
Cequel Communications Holdings I LLC:
|
|
|
|
|
|
|
|
|
|
144A, 5.125%, 12/15/2021
|
|
|
2,305,000
|
|
2,166,700
|
|
|
144A, 6.375%, 9/15/2020
|
|
|
10,810,000
|
|
10,999,175
|
|
Chester Downs & Marina LLC, 144A, 9.25%, 2/1/2020 (b)
|
|
|
1,300,000
|
|
1,254,500
|
|
Clear Channel Communications, Inc., 144A, 11.25%, 3/1/2021
|
|
|
2,510,000
|
|
2,616,675
|
|
Clear Channel Worldwide Holdings, Inc.:
|
|
|
|
|
|
|
|
|
|
Series A, 144A, 6.5%, 11/15/2022
|
|
|
2,270,000
|
|
2,326,750
|
|
|
Series B, 144A, 6.5%, 11/15/2022
|
|
|
3,380,000
|
|
3,481,400
|
|
|
Series A, 7.625%, 3/15/2020 (b)
|
|
|
990,000
|
|
1,019,700
|
|
|
Series B, 7.625%, 3/15/2020 (b)
|
|
|
10,455,000
|
|
10,820,925
|
|
Cogeco Cable, Inc., 144A, 4.875%, 5/1/2020
|
|
|
200,000
|
|
194,500
|
|
Crown Media Holdings, Inc., 10.5%, 7/15/2019
|
|
|
2,370,000
|
|
2,630,700
|
|
CSC Holdings LLC, 6.75%, 11/15/2021
|
|
|
8,100,000
|
|
8,727,750
|
|
Cumulus Media Holdings, Inc., 7.75%, 5/1/2019 (b)
|
|
|
3,329,000
|
|
3,254,097
|
|
DISH DBS Corp.:
|
|
|
|
|
|
|
|
|
|
6.75%, 6/1/2021
|
|
|
4,420,000
|
|
4,696,250
|
|
|
7.875%, 9/1/2019
|
|
|
4,165,000
|
|
4,664,800
|
|
Fontainebleau Las Vegas Holdings LLC, 144A, 11.0%, 6/15/2015*
|
|
|
3,640,000
|
|
0
|
|
Griffey Intermediate, Inc., 144A, 7.0%, 10/15/2020
|
|
|
3,760,000
|
|
3,628,400
|
|
Harron Communications LP, 144A, 9.125%, 4/1/2020
|
|
|
3,705,000
|
|
4,001,400
|
|
Hertz Corp., 6.75%, 4/15/2019
|
|
|
2,680,000
|
|
2,834,100
|
|
Hot Topic, Inc., 144A, 9.25%, 6/15/2021 (b)
|
|
|
1,380,000
|
|
1,397,250
|
|
Jo-Ann Stores Holdings, Inc., 144A, 9.75%, 10/15/2019 (PIK)
|
|
|
4,450,000
|
|
4,572,375
|
|
Lear Corp., 8.125%, 3/15/2020
|
|
|
1,504,000
|
|
1,646,880
|
|
Libbey Glass, Inc., 6.875%, 5/15/2020
|
|
|
1,049,000
|
|
1,097,516
|
|
Lions Gate Entertainment, Inc., 144A, 10.25%, 11/1/2016
|
|
|
4,480,000
|
|
4,799,200
|
|
LKQ Corp., 144A, 4.75%, 5/15/2023
|
|
|
2,760,000
|
|
2,635,800
|
|
MDC Partners, Inc., 144A, 6.75%, 4/1/2020
|
|
|
1,375,000
|
|
1,371,563
|
|
Mediacom Broadband LLC, 6.375%, 4/1/2023
|
|
|
4,035,000
|
|
4,014,825
|
|
Mediacom LLC:
|
|
|
|
|
|
|
|
|
|
7.25%, 2/15/2022
|
|
|
995,000
|
|
1,047,238
|
|
|
9.125%, 8/15/2019 (b)
|
|
|
1,745,000
|
|
1,875,875
|
|
MGM Resorts International:
|
|
|
|
|
|
|
|
|
|
6.625%, 12/15/2021 (b)
|
|
|
5,720,000
|
|
5,898,750
|
|
|
6.75%, 10/1/2020 (b)
|
|
|
1,625,000
|
|
1,681,875
|
|
|
7.625%, 1/15/2017 (b)
|
|
|
4,480,000
|
|
4,894,400
|
|
|
8.625%, 2/1/2019
|
|
|
7,695,000
|
|
8,695,350
|
|
|
10.0%, 11/1/2016
|
|
|
1,795,000
|
|
2,104,638
|
|
National CineMedia LLC:
|
|
|
|
|
|
|
|
|
|
6.0%, 4/15/2022
|
|
|
1,955,000
|
|
2,006,319
|
|
|
7.875%, 7/15/2021
|
|
|
2,015,000
|
|
2,186,275
|
|
Norcraft Companies LP, 10.5%, 12/15/2015
|
|
|
8,730,000
|
|
9,057,375
|
|
Palace Entertainment Holdings LLC, 144A, 8.875%, 4/15/2017
|
|
|
3,315,000
|
|
3,414,450
|
|
PETCO Animal Supplies, Inc., 144A, 9.25%, 12/1/2018
|
|
|
2,515,000
|
|
2,709,913
|
|
Petco Holdings, Inc., 144A, 8.5%, 10/15/2017 (PIK)
|
|
|
1,075,000
|
|
1,096,500
|
|
Quebecor Media, Inc., 5.75%, 1/15/2023
|
|
|
1,885,000
|
|
1,837,875
|
|
Rent-A-Center, Inc., 144A, 4.75%, 5/1/2021
|
|
|
1,380,000
|
|
1,307,550
|
|
Sabre Holdings Corp., 8.35%, 3/15/2016
|
|
|
2,560,000
|
|
2,739,200
|
|
Schaeffler Finance BV:
|
|
|
|
|
|
|
|
|
|
144A, 4.75%, 5/15/2021
|
|
|
2,450,000
|
|
2,327,500
|
|
|
144A, 7.75%, 2/15/2017
|
|
|
3,655,000
|
|
4,038,775
|
|
Seminole Hard Rock Entertainment, Inc., 144A, 5.875%, 5/15/2021
|
|
|
1,150,000
|
|
1,115,500
|
|
Seminole Indian Tribe of Florida:
|
|
|
|
|
|
|
|
|
|
144A, 7.75%, 10/1/2017
|
|
|
1,420,000
|
|
1,508,750
|
|
|
144A, 7.804%, 10/1/2020
|
|
|
2,995,000
|
|
3,159,725
|
|
Serta Simmons Holdings LLC, 144A, 8.125%, 10/1/2020 (b)
|
|
|
2,170,000
|
|
2,207,975
|
|
SIWF Merger Sub, Inc., 144A, 6.25%, 6/1/2021
|
|
|
2,765,000
|
|
2,709,700
|
|
Starz LLC, 5.0%, 9/15/2019
|
|
|
1,545,000
|
|
1,533,413
|
|
Taylor Morrison Communities, Inc., 144A, 5.25%, 4/15/2021 (b)
|
|
|
2,305,000
|
|
2,189,750
|
|
Travelport LLC:
|
|
|
|
|
|
|
|
|
|
144A, 6.4% **, 3/1/2016
|
|
|
1,522,849
|
|
1,423,864
|
|
|
144A, 13.875%, 3/1/2016 (PIK)
|
|
|
408,375
|
|
417,563
|
|
UCI International, Inc., 8.625%, 2/15/2019
|
|
|
2,740,000
|
|
2,794,800
|
|
Unitymedia Hessen GmbH & Co., KG:
|
|
|
|
|
|
|
|
|
|
144A, 5.5%, 1/15/2023
|
|
|
8,260,000
|
|
7,805,700
|
|
|
144A, 7.5%, 3/15/2019
|
|
|
3,805,000
|
|
4,004,762
|
|
|
144A, 7.5%, 3/15/2019
|
EUR
|
|
2,000,000
|
|
2,764,053
|
|
|
144A, 8.125%, 12/1/2017
|
EUR
|
|
621,649
|
|
849,627
|
|
Unitymedia KabelBW GmbH, 144A, 9.625%, 12/1/2019
|
EUR
|
|
6,670,000
|
|
9,550,202
|
|
Univision Communications, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 6.875%, 5/15/2019
|
|
|
480,000
|
|
504,000
|
|
|
144A, 7.875%, 11/1/2020
|
|
|
4,065,000
|
|
4,400,362
|
|
|
144A, 8.5%, 5/15/2021
|
|
|
1,690,000
|
|
1,795,625
|
|
UPC Holding BV, 144A, 8.375%, 8/15/2020
|
EUR
|
|
12,170,000
|
|
16,862,823
|
|
Viking Cruises Ltd., 144A, 8.5%, 10/15/2022
|
|
|
1,880,000
|
|
2,058,600
|
|
Visant Corp., 10.0%, 10/1/2017 (b)
|
|
|
3,535,000
|
|
3,261,037
|
|
Visteon Corp., 6.75%, 4/15/2019
|
|
|
1,560,000
|
|
1,641,900
|
|
Yonkers Racing Corp., 144A, 11.375%, 7/15/2016
|
|
|
2,805,000
|
|
2,962,781
|
|
|
|
295,238,088
|
|
Consumer Staples 6.0%
|
|
Alliance One International, Inc., 10.0%, 7/15/2016
|
|
|
1,145,000
|
|
1,170,763
|
|
B&G Foods, Inc., 4.625%, 6/1/2021
|
|
|
2,300,000
|
|
2,196,500
|
|
Barry Callebaut Services NV, 144A, 5.5%, 6/15/2023
|
|
|
1,625,000
|
|
1,635,628
|
|
Chiquita Brands International, Inc., 144A, 7.875%, 2/1/2021
|
|
|
1,760,000
|
|
1,843,600
|
|
Constellation Brands, Inc., 3.75%, 5/1/2021
|
|
|
2,300,000
|
|
2,153,375
|
|
Del Monte Corp., 7.625%, 2/15/2019 (b)
|
|
|
3,305,000
|
|
3,395,887
|
|
FAGE Dairy Industry SA, 144A, 9.875%, 2/1/2020
|
|
|
6,410,000
|
|
6,906,775
|
|
Hawk Acquisition Sub, Inc., 144A, 4.25%, 10/15/2020 (b)
|
|
|
16,845,000
|
|
16,108,031
|
|
JBS U.S.A. LLC, 144A, 8.25%, 2/1/2020
|
|
|
1,450,000
|
|
1,518,875
|
|
Michael Foods Group, Inc., 9.75%, 7/15/2018
|
|
|
3,240,000
|
|
3,547,800
|
|
NBTY, Inc., 9.0%, 10/1/2018
|
|
|
1,515,000
|
|
1,647,563
|
|
Pilgrim's Pride Corp., 7.875%, 12/15/2018
|
|
|
2,605,000
|
|
2,774,325
|
|
Reynolds Group Issuer, Inc.:
|
|
|
|
|
|
|
|
|
|
5.75%, 10/15/2020
|
|
|
3,820,000
|
|
3,848,650
|
|
|
6.875%, 2/15/2021
|
|
|
9,230,000
|
|
9,691,500
|
|
|
7.125%, 4/15/2019
|
|
|
3,240,000
|
|
3,422,250
|
|
|
8.25%, 2/15/2021 (b)
|
|
|
1,750,000
|
|
1,732,500
|
|
|
8.5%, 5/15/2018 (b)
|
|
|
3,505,000
|
|
3,610,150
|
|
|
9.875%, 8/15/2019
|
|
|
1,195,000
|
|
1,278,650
|
|
Smithfield Foods, Inc.:
|
|
|
|
|
|
|
|
|
|
6.625%, 8/15/2022
|
|
|
3,795,000
|
|
4,079,625
|
|
|
7.75%, 7/1/2017
|
|
|
5,025,000
|
|
5,540,062
|
|
Sun Products Corp., 144A, 7.75%, 3/15/2021
|
|
|
3,220,000
|
|
3,195,850
|
|
U.S. Foods, Inc., 8.5%, 6/30/2019 (b)
|
|
|
3,350,000
|
|
3,500,750
|
|
|
|
84,799,109
|
|
Energy 13.5%
|
|
Access Midstream Partners LP:
|
|
|
|
|
|
|
|
|
|
4.875%, 5/15/2023
|
|
|
2,380,000
|
|
2,207,450
|
|
|
6.125%, 7/15/2022
|
|
|
2,970,000
|
|
3,007,125
|
|
Antero Resources Finance Corp., 7.25%, 8/1/2019
|
|
|
2,410,000
|
|
2,512,425
|
|
Arch Coal, Inc., 7.0%, 6/15/2019 (b)
|
|
|
950,000
|
|
790,875
|
|
Berry Petroleum Co.:
|
|
|
|
|
|
|
|
|
|
6.375%, 9/15/2022
|
|
|
1,850,000
|
|
1,843,063
|
|
|
6.75%, 11/1/2020 (b)
|
|
|
2,050,000
|
|
2,121,750
|
|
BreitBurn Energy Partners LP:
|
|
|
|
|
|
|
|
|
|
7.875%, 4/15/2022
|
|
|
1,920,000
|
|
1,958,400
|
|
|
8.625%, 10/15/2020
|
|
|
1,760,000
|
|
1,865,600
|
|
Chaparral Energy, Inc., 7.625%, 11/15/2022 (b)
|
|
|
3,350,000
|
|
3,417,000
|
|
Chesapeake Energy Corp., 5.75%, 3/15/2023 (b)
|
|
|
915,000
|
|
926,438
|
|
Chesapeake Oilfield Operating LLC, 144A, 6.625%, 11/15/2019
|
|
|
1,380,000
|
|
1,366,200
|
|
CITGO Petroleum Corp., 144A, 11.5%, 7/1/2017
|
|
|
4,500,000
|
|
4,995,000
|
|
Continental Resources, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 4.5%, 4/15/2023
|
|
|
555,000
|
|
539,738
|
|
|
5.0%, 9/15/2022
|
|
|
1,680,000
|
|
1,709,400
|
|
|
7.125%, 4/1/2021
|
|
|
1,335,000
|
|
1,468,500
|
|
Crestwood Midstream Partners LP, 7.75%, 4/1/2019
|
|
|
2,340,000
|
|
2,410,200
|
|
Crosstex Energy LP:
|
|
|
|
|
|
|
|
|
|
7.125%, 6/1/2022
|
|
|
925,000
|
|
934,250
|
|
|
8.875%, 2/15/2018
|
|
|
2,765,000
|
|
2,930,900
|
|
Denbury Resources, Inc., 4.625%, 7/15/2023 (b)
|
|
|
4,655,000
|
|
4,294,237
|
|
Dresser-Rand Group, Inc., 6.5%, 5/1/2021
|
|
|
3,345,000
|
|
3,545,700
|
|
Eagle Rock Energy Partners LP, 8.375%, 6/1/2019
|
|
|
3,215,000
|
|
3,271,262
|
|
EP Energy LLC:
|
|
|
|
|
|
|
|
|
|
6.875%, 5/1/2019
|
|
|
3,085,000
|
|
3,300,950
|
|
|
7.75%, 9/1/2022 (b)
|
|
|
1,670,000
|
|
1,786,900
|
|
|
9.375%, 5/1/2020
|
|
|
1,415,000
|
|
1,598,950
|
|
EPE Holdings LLC, 144A, 8.125%, 12/15/2017 (PIK) (b)
|
|
|
4,411,448
|
|
4,499,677
|
|
EV Energy Partners LP, 8.0%, 4/15/2019
|
|
|
7,815,000
|
|
7,893,150
|
|
Frontier Oil Corp., 6.875%, 11/15/2018
|
|
|
240,000
|
|
257,400
|
|
Global Geophysical Services, Inc., 10.5%, 5/1/2017
|
|
|
4,175,000
|
|
3,632,250
|
|
Halcon Resources Corp.:
|
|
|
|
|
|
|
|
|
|
8.875%, 5/15/2021 (b)
|
|
|
5,155,000
|
|
5,000,350
|
|
|
9.75%, 7/15/2020
|
|
|
8,665,000
|
|
8,643,337
|
|
Holly Energy Partners LP:
|
|
|
|
|
|
|
|
|
|
6.5%, 3/1/2020
|
|
|
990,000
|
|
997,425
|
|
|
8.25%, 3/15/2018
|
|
|
2,670,000
|
|
2,823,525
|
|
Kodiak Oil & Gas Corp., 144A, 5.5%, 1/15/2021 (b)
|
|
|
2,320,000
|
|
2,262,000
|
|
Linn Energy LLC:
|
|
|
|
|
|
|
|
|
|
144A, 6.25%, 11/1/2019
|
|
|
6,880,000
|
|
6,553,200
|
|
|
6.5%, 5/15/2019
|
|
|
3,095,000
|
|
3,025,362
|
|
MEG Energy Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 6.375%, 1/30/2023
|
|
|
7,570,000
|
|
7,342,900
|
|
|
144A, 6.5%, 3/15/2021
|
|
|
1,880,000
|
|
1,863,550
|
|
Memorial Production Partners LP, 144A, 7.625%, 5/1/2021
|
|
|
3,190,000
|
|
3,142,150
|
|
Midstates Petroleum Co., Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 9.25%, 6/1/2021
|
|
|
4,650,000
|
|
4,371,000
|
|
|
144A, 10.75%, 10/1/2020
|
|
|
2,180,000
|
|
2,190,900
|
|
Murray Energy Corp., 144A, 8.625%, 6/15/2021
|
|
|
460,000
|
|
460,000
|
|
Northern Oil & Gas, Inc., 8.0%, 6/1/2020
|
|
|
5,340,000
|
|
5,393,400
|
|
Oasis Petroleum, Inc.:
|
|
|
|
|
|
|
|
|
|
6.5%, 11/1/2021
|
|
|
3,540,000
|
|
3,628,500
|
|
|
6.875%, 1/15/2023
|
|
|
1,120,000
|
|
1,153,600
|
|
|
7.25%, 2/1/2019
|
|
|
5,875,000
|
|
6,124,687
|
|
Offshore Group Investment Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 7.125%, 4/1/2023
|
|
|
3,680,000
|
|
3,615,600
|
|
|
7.5%, 11/1/2019 (b)
|
|
|
5,355,000
|
|
5,582,587
|
|
Pacific Drilling SA, 144A, 5.375%, 6/1/2020
|
|
|
2,300,000
|
|
2,150,500
|
|
Range Resources Corp.:
|
|
|
|
|
|
|
|
|
|
5.0%, 8/15/2022 (b)
|
|
|
5,000,000
|
|
4,887,500
|
|
|
5.0%, 3/15/2023
|
|
|
925,000
|
|
904,188
|
|
Regency Energy Partners LP, 144A, 4.5%, 11/1/2023
|
|
|
920,000
|
|
832,600
|
|
Sabine Pass Liquefaction LLC:
|
|
|
|
|
|
|
|
|
|
144A, 5.625%, 2/1/2021
|
|
|
6,465,000
|
|
6,271,050
|
|
|
144A, 5.625%, 4/15/2023
|
|
|
1,405,000
|
|
1,327,725
|
|
SandRidge Energy, Inc., 7.5%, 3/15/2021 (b)
|
|
|
5,545,000
|
|
5,295,475
|
|
SESI LLC:
|
|
|
|
|
|
|
|
|
|
6.375%, 5/1/2019
|
|
|
1,925,000
|
|
1,987,563
|
|
|
7.125%, 12/15/2021
|
|
|
6,355,000
|
|
6,863,400
|
|
Swift Energy Co., 7.875%, 3/1/2022
|
|
|
2,730,000
|
|
2,716,350
|
|
Talos Production LLC, 144A, 9.75%, 2/15/2018
|
|
|
3,640,000
|
|
3,458,000
|
|
Tesoro Corp., 5.375%, 10/1/2022
|
|
|
1,440,000
|
|
1,458,000
|
|
Venoco, Inc., 8.875%, 2/15/2019
|
|
|
4,695,000
|
|
4,577,625
|
|
WPX Energy, Inc., 5.25%, 1/15/2017
|
|
|
4,850,000
|
|
4,971,250
|
|
|
|
192,960,089
|
|
Financials 4.2%
|
|
AerCap Aviation Solutions BV, 6.375%, 5/30/2017
|
|
|
4,210,000
|
|
4,420,500
|
|
Ally Financial, Inc.:
|
|
|
|
|
|
|
|
|
|
5.5%, 2/15/2017
|
|
|
3,490,000
|
|
3,646,387
|
|
|
8.0%, 3/15/2020 (b)
|
|
|
2,990,000
|
|
3,472,138
|
|
CNH Capital LLC, 144A, 3.625%, 4/15/2018
|
|
|
3,710,000
|
|
3,533,775
|
|
E*TRADE Financial Corp.:
|
|
|
|
|
|
|
|
|
|
6.375%, 11/15/2019
|
|
|
5,395,000
|
|
5,475,925
|
|
|
6.75%, 6/1/2016
|
|
|
6,070,000
|
|
6,236,925
|
|
General Motors Financial Co., Inc., 144A, 3.25%, 5/15/2018 (b)
|
|
|
920,000
|
|
894,700
|
|
Hellas Telecommunications Finance SCA, 144A, 8.21% **, 7/15/2015 (PIK) *
|
EUR
|
|
2,522,281
|
|
0
|
|
International Lease Finance Corp.:
|
|
|
|
|
|
|
|
|
|
3.875%, 4/15/2018
|
|
|
3,630,000
|
|
3,412,200
|
|
|
4.625%, 4/15/2021
|
|
|
3,220,000
|
|
2,962,400
|
|
|
5.75%, 5/15/2016
|
|
|
895,000
|
|
919,732
|
|
|
6.25%, 5/15/2019
|
|
|
2,695,000
|
|
2,769,113
|
|
|
8.625%, 1/15/2022 (b)
|
|
|
2,775,000
|
|
3,191,250
|
|
|
8.75%, 3/15/2017
|
|
|
4,075,000
|
|
4,538,531
|
|
MPT Operating Partnership LP:
|
|
|
|
|
|
|
|
|
|
(REIT), 6.375%, 2/15/2022
|
|
|
1,670,000
|
|
1,753,500
|
|
|
(REIT), 6.875%, 5/1/2021
|
|
|
2,415,000
|
|
2,559,900
|
|
National Money Mart Co., 10.375%, 12/15/2016
|
|
|
6,100,000
|
|
6,466,000
|
|
Neuberger Berman Group LLC:
|
|
|
|
|
|
|
|
|
|
144A, 5.625%, 3/15/2020
|
|
|
1,480,000
|
|
1,531,800
|
|
|
144A, 5.875%, 3/15/2022
|
|
|
2,470,000
|
|
2,519,400
|
|
|
|
60,304,176
|
|
Health Care 5.7%
|
|
Aviv Healthcare Properties LP, 7.75%, 2/15/2019
|
|
|
4,325,000
|
|
4,616,937
|
|
Biomet, Inc.:
|
|
|
|
|
|
|
|
|
|
6.5%, 8/1/2020 (b)
|
|
|
3,350,000
|
|
3,452,594
|
|
|
6.5%, 10/1/2020 (b)
|
|
|
960,000
|
|
957,600
|
|
Community Health Systems, Inc.:
|
|
|
|
|
|
|
|
|
|
5.125%, 8/15/2018
|
|
|
10,975,000
|
|
11,139,625
|
|
|
7.125%, 7/15/2020
|
|
|
12,190,000
|
|
12,555,700
|
|
Fresenius Medical Care U.S. Finance II, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 5.625%, 7/31/2019
|
|
|
1,980,000
|
|
2,059,200
|
|
|
144A, 5.875%, 1/31/2022
|
|
|
1,740,000
|
|
1,831,350
|
|
HCA, Inc.:
|
|
|
|
|
|
|
|
|
|
5.875%, 3/15/2022
|
|
|
2,505,000
|
|
2,570,756
|
|
|
6.5%, 2/15/2020
|
|
|
9,615,000
|
|
10,402,228
|
|
|
7.5%, 2/15/2022
|
|
|
2,225,000
|
|
2,464,188
|
|
Hologic, Inc., 6.25%, 8/1/2020
|
|
|
1,935,000
|
|
2,006,353
|
|
IMS Health, Inc., 144A, 6.0%, 11/1/2020
|
|
|
2,350,000
|
|
2,391,125
|
|
Physio-Control International, Inc., 144A, 9.875%, 1/15/2019
|
|
|
2,870,000
|
|
3,157,000
|
|
Sky Growth Acquisition Corp., 144A, 7.375%, 10/15/2020
|
|
|
1,680,000
|
|
1,722,000
|
|
STHI Holding Corp., 144A, 8.0%, 3/15/2018
|
|
|
1,775,000
|
|
1,917,000
|
|
Tenet Healthcare Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 4.375%, 10/1/2021
|
|
|
3,695,000
|
|
3,390,163
|
|
|
144A, 4.5%, 4/1/2021
|
|
|
460,000
|
|
428,950
|
|
|
6.25%, 11/1/2018
|
|
|
14,050,000
|
|
14,787,625
|
|
|
|
81,850,394
|
|
Industrials 9.9%
|
|
Abengoa Finance SAU, 144A, 8.875%, 11/1/2017
|
|
|
1,870,000
|
|
1,739,100
|
|
Accuride Corp., 9.5%, 8/1/2018
|
|
|
2,721,000
|
|
2,768,617
|
|
Aguila 3 SA, 144A, 7.875%, 1/31/2018
|
|
|
3,955,000
|
|
4,073,650
|
|
Air Lease Corp.:
|
|
|
|
|
|
|
|
|
|
4.75%, 3/1/2020 (b)
|
|
|
2,805,000
|
|
2,706,825
|
|
|
6.125%, 4/1/2017 (b)
|
|
|
4,155,000
|
|
4,300,425
|
|
Alphabet Holding Co., Inc., 7.75%, 11/1/2017 (PIK) (b)
|
|
|
1,870,000
|
|
1,916,750
|
|
Armored Autogroup, Inc., 9.25%, 11/1/2018
|
|
|
4,685,000
|
|
4,298,487
|
|
AWAS Aviation Capital Ltd., 144A, 7.0%, 10/17/2016
|
|
|
3,013,400
|
|
3,133,936
|
|
BakerCorp International, Inc., 8.25%, 6/1/2019
|
|
|
2,785,000
|
|
2,729,300
|
|
Belden, Inc., 144A, 5.5%, 9/1/2022
|
|
|
3,360,000
|
|
3,301,200
|
|
Bombardier, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 5.75%, 3/15/2022
|
|
|
3,940,000
|
|
3,910,450
|
|
|
144A, 6.125%, 1/15/2023
|
|
|
2,745,000
|
|
2,724,412
|
|
Casella Waste Systems, Inc., 7.75%, 2/15/2019
|
|
|
4,935,000
|
|
4,688,250
|
|
Clean Harbors, Inc., 5.125%, 6/1/2021
|
|
|
2,375,000
|
|
2,392,813
|
|
DigitalGlobe, Inc., 144A, 5.25%, 2/1/2021
|
|
|
1,395,000
|
|
1,339,200
|
|
Ducommun, Inc., 9.75%, 7/15/2018
|
|
|
2,795,000
|
|
3,053,537
|
|
DynCorp International, Inc., 10.375%, 7/1/2017
|
|
|
3,745,000
|
|
3,763,725
|
|
Florida East Coast Railway Corp., 8.125%, 2/1/2017
|
|
|
1,750,000
|
|
1,850,625
|
|
FTI Consulting, Inc., 144A, 6.0%, 11/15/2022
|
|
|
1,885,000
|
|
1,908,563
|
|
Garda World Security Corp., 144A, 9.75%, 3/15/2017
|
|
|
3,245,000
|
|
3,427,830
|
|
GenCorp, Inc., 144A, 7.125%, 3/15/2021
|
|
|
6,990,000
|
|
7,234,650
|
|
Huntington Ingalls Industries, Inc.:
|
|
|
|
|
|
|
|
|
|
6.875%, 3/15/2018
|
|
|
2,400,000
|
|
2,565,000
|
|
|
7.125%, 3/15/2021 (b)
|
|
|
2,480,000
|
|
2,666,000
|
|
Interline Brands, Inc., 7.5%, 11/15/2018
|
|
|
2,245,000
|
|
2,357,250
|
|
Iron Mountain, Inc., 5.75%, 8/15/2024
|
|
|
2,310,000
|
|
2,165,625
|
|
Kenan Advantage Group, Inc., 144A, 8.375%, 12/15/2018
|
|
|
3,780,000
|
|
3,931,200
|
|
Meritor, Inc.:
|
|
|
|
|
|
|
|
|
|
6.75%, 6/15/2021 (b)
|
|
|
1,860,000
|
|
1,776,300
|
|
|
10.625%, 3/15/2018
|
|
|
2,870,000
|
|
3,106,775
|
|
Navios Maritime Holdings, Inc.:
|
|
|
|
|
|
|
|
|
|
8.125%, 2/15/2019
|
|
|
3,255,000
|
|
3,084,112
|
|
|
8.875%, 11/1/2017
|
|
|
3,815,000
|
|
3,948,525
|
|
Navios South American Logistics, Inc.:
|
|
|
|
|
|
|
|
|
|
9.25%, 4/15/2019 (b)
|
|
|
2,415,000
|
|
2,590,088
|
|
|
144A, 9.25%, 4/15/2019
|
|
|
475,000
|
|
509,438
|
|
Nortek, Inc., 8.5%, 4/15/2021
|
|
|
3,615,000
|
|
3,868,050
|
|
Ply Gem Industries, Inc., 9.375%, 4/15/2017
|
|
|
981,000
|
|
1,037,408
|
|
Rexel SA, 144A, 5.25%, 6/15/2020
|
|
|
2,460,000
|
|
2,453,850
|
|
Sitel LLC, 11.5%, 4/1/2018
|
|
|
4,540,000
|
|
3,382,300
|
|
Spirit AeroSystems, Inc.:
|
|
|
|
|
|
|
|
|
|
6.75%, 12/15/2020
|
|
|
1,465,000
|
|
1,523,600
|
|
|
7.5%, 10/1/2017
|
|
|
1,730,000
|
|
1,807,850
|
|
Titan International, Inc.:
|
|
|
|
|
|
|
|
|
|
7.875%, 10/1/2017
|
|
|
1,700,000
|
|
1,785,000
|
|
|
144A, 7.875%, 10/1/2017
|
|
|
1,210,000
|
|
1,270,500
|
|
TransDigm, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 7.5%, 7/15/2021 (c)
|
|
|
3,140,000
|
|
3,210,650
|
|
|
7.75%, 12/15/2018
|
|
|
2,820,000
|
|
2,968,050
|
|
U.S. Airways Group, Inc., 6.125%, 6/1/2018 (b)
|
|
|
2,305,000
|
|
2,178,225
|
|
United Rentals North America, Inc.:
|
|
|
|
|
|
|
|
|
|
5.75%, 7/15/2018
|
|
|
3,460,000
|
|
3,633,000
|
|
|
6.125%, 6/15/2023 (b)
|
|
|
210,000
|
|
208,950
|
|
|
7.375%, 5/15/2020
|
|
|
5,690,000
|
|
6,074,075
|
|
|
7.625%, 4/15/2022
|
|
|
5,690,000
|
|
6,159,425
|
|
Watco Companies LLC, 144A, 6.375%, 4/1/2023
|
|
|
1,385,000
|
|
1,378,075
|
|
Welltec AS, 144A, 8.0%, 2/1/2019
|
|
|
2,800,000
|
|
2,912,000
|
|
|
|
141,813,666
|
|
Information Technology 4.3%
|
|
Alliance Data Systems Corp., 144A, 5.25%, 12/1/2017
|
|
|
2,375,000
|
|
2,446,250
|
|
CDW LLC, 8.5%, 4/1/2019
|
|
|
10,025,000
|
|
10,776,875
|
|
CyrusOne LP, 144A, 6.375%, 11/15/2022
|
|
|
950,000
|
|
973,750
|
|
eAccess Ltd., 144A, 8.25%, 4/1/2018
|
|
|
2,720,000
|
|
2,978,400
|
|
EarthLink, Inc., 144A, 7.375%, 6/1/2020
|
|
|
2,310,000
|
|
2,217,600
|
|
Equinix, Inc.:
|
|
|
|
|
|
|
|
|
|
4.875%, 4/1/2020
|
|
|
2,330,000
|
|
2,283,400
|
|
|
5.375%, 4/1/2023
|
|
|
6,455,000
|
|
6,325,900
|
|
|
7.0%, 7/15/2021
|
|
|
1,920,000
|
|
2,083,200
|
|
First Data Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 6.75%, 11/1/2020 (b)
|
|
|
8,955,000
|
|
9,111,712
|
|
|
144A, 7.375%, 6/15/2019
|
|
|
2,155,000
|
|
2,214,263
|
|
|
144A, 8.875%, 8/15/2020
|
|
|
3,745,000
|
|
4,082,050
|
|
|
144A, 10.625%, 6/15/2021
|
|
|
3,745,000
|
|
3,698,188
|
|
Freescale Semiconductor, Inc., 144A, 9.25%, 4/15/2018
|
|
|
5,525,000
|
|
5,953,187
|
|
Hughes Satellite Systems Corp.:
|
|
|
|
|
|
|
|
|
|
6.5%, 6/15/2019
|
|
|
2,100,000
|
|
2,226,000
|
|
|
7.625%, 6/15/2021
|
|
|
1,910,000
|
|
2,029,375
|
|
IAC/InterActiveCorp., 144A, 4.75%, 12/15/2022
|
|
|
1,875,000
|
|
1,771,875
|
|
|
|
61,172,025
|
|
Materials 9.0%
|
|
APERAM:
|
|
|
|
|
|
|
|
|
|
144A, 7.375%, 4/1/2016
|
|
|
850,000
|
|
824,500
|
|
|
144A, 7.75%, 4/1/2018
|
|
|
905,000
|
|
859,750
|
|
Axiall Corp., 144A, 4.875%, 5/15/2023
|
|
|
580,000
|
|
551,000
|
|
Berry Plastics Corp.:
|
|
|
|
|
|
|
|
|
|
9.5%, 5/15/2018
|
|
|
3,000,000
|
|
3,262,500
|
|
|
9.75%, 1/15/2021 (b)
|
|
|
3,510,000
|
|
3,966,300
|
|
Bluescope Steel Ltd., 144A, 7.125%, 5/1/2018
|
|
|
1,375,000
|
|
1,395,625
|
|
BOE Intermediate Holding Corp., 144A, 9.0%, 11/1/2017 (PIK)
|
|
|
2,760,000
|
|
2,649,600
|
|
BOE Merger Corp., 144A, 9.5%, 11/1/2017 (PIK)
|
|
|
3,745,000
|
|
3,819,900
|
|
Clearwater Paper Corp., 7.125%, 11/1/2018
|
|
|
3,025,000
|
|
3,236,750
|
|
Compass Minerals International, Inc., 8.0%, 6/1/2019
|
|
|
3,305,000
|
|
3,519,825
|
|
Eagle Spinco, Inc., 144A, 4.625%, 2/15/2021
|
|
|
1,165,000
|
|
1,118,400
|
|
Essar Steel Algoma, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 9.375%, 3/15/2015
|
|
|
10,490,000
|
|
9,965,500
|
|
|
144A, 9.875%, 6/15/2015
|
|
|
1,680,000
|
|
1,293,600
|
|
Exopack Holding Corp., 10.0%, 6/1/2018
|
|
|
1,915,000
|
|
1,938,938
|
|
FMG Resources August 2006 Pty Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 6.0%, 4/1/2017 (b)
|
|
|
2,970,000
|
|
2,888,325
|
|
|
144A, 6.375%, 2/1/2016 (b)
|
|
|
2,000,000
|
|
1,997,500
|
|
|
144A, 6.875%, 4/1/2022 (b)
|
|
|
620,000
|
|
601,400
|
|
|
144A, 7.0%, 11/1/2015 (b)
|
|
|
3,245,000
|
|
3,277,450
|
|
|
144A, 8.25%, 11/1/2019 (b)
|
|
|
2,530,000
|
|
2,605,900
|
|
FQM Akubra, Inc.:
|
|
|
|
|
|
|
|
|
|
144A, 7.5%, 6/1/2021
|
|
|
5,405,000
|
|
5,175,287
|
|
|
144A, 8.75%, 6/1/2020
|
|
|
3,135,000
|
|
3,205,537
|
|
Greif, Inc., 7.75%, 8/1/2019
|
|
|
910,000
|
|
1,041,950
|
|
Hexion U.S. Finance Corp.:
|
|
|
|
|
|
|
|
|
|
6.625%, 4/15/2020
|
|
|
860,000
|
|
857,850
|
|
|
8.875%, 2/1/2018
|
|
|
6,745,000
|
|
6,879,900
|
|
Huntsman International LLC:
|
|
|
|
|
|
|
|
|
|
4.875%, 11/15/2020 (b)
|
|
|
2,135,000
|
|
2,108,313
|
|
|
8.625%, 3/15/2020
|
|
|
580,000
|
|
630,750
|
|
|
8.625%, 3/15/2021 (b)
|
|
|
3,870,000
|
|
4,247,325
|
|
IAMGOLD Corp., 144A, 6.75%, 10/1/2020
|
|
|
2,925,000
|
|
2,471,625
|
|
Kaiser Aluminum Corp., 8.25%, 6/1/2020
|
|
|
2,370,000
|
|
2,624,775
|
|
KGHM International Ltd., 144A, 7.75%, 6/15/2019
|
|
|
5,165,000
|
|
5,242,475
|
|
Novelis, Inc.:
|
|
|
|
|
|
|
|
|
|
8.375%, 12/15/2017
|
|
|
6,785,000
|
|
7,192,100
|
|
|
8.75%, 12/15/2020
|
|
|
5,100,000
|
|
5,469,750
|
|
OI European Group BV, 144A, 6.75%, 9/15/2020
|
EUR
|
|
985,000
|
|
1,417,594
|
|
Packaging Dynamics Corp., 144A, 8.75%, 2/1/2016
|
|
|
4,200,000
|
|
4,242,000
|
|
Perstorp Holding AB, 144A, 8.75%, 5/15/2017 (b)
|
|
|
1,200,000
|
|
1,200,000
|
|
Polymer Group, Inc., 7.75%, 2/1/2019 (b)
|
|
|
2,335,000
|
|
2,428,400
|
|
PolyOne Corp., 144A, 5.25%, 3/15/2023
|
|
|
5,280,000
|
|
5,200,800
|
|
Rain CII Carbon LLC:
|
|
|
|
|
|
|
|
|
|
144A, 8.0%, 12/1/2018
|
|
|
2,120,000
|
|
2,173,000
|
|
|
144A, 8.25%, 1/15/2021
|
|
|
1,380,000
|
|
1,380,000
|
|
Sealed Air Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 5.25%, 4/1/2023
|
|
|
445,000
|
|
432,763
|
|
|
144A, 8.125%, 9/15/2019
|
|
|
1,315,000
|
|
1,466,225
|
|
|
144A, 8.375%, 9/15/2021
|
|
|
1,315,000
|
|
1,485,950
|
|
Tronox Finance LLC, 144A, 6.375%, 8/15/2020 (b)
|
|
|
2,395,000
|
|
2,257,288
|
|
Viskase Companies, Inc., 144A, 9.875%, 1/15/2018
|
|
|
7,215,000
|
|
7,629,862
|
|
|
|
128,234,282
|
|
Telecommunication Services 18.9%
|
|
Altice Financing SA, 144A, 7.875%, 12/15/2019 (b)
|
|
|
2,120,000
|
|
2,215,400
|
|
Altice Finco SA, 144A, 9.875%, 12/15/2020 (b)
|
|
|
2,120,000
|
|
2,268,400
|
|
CenturyLink, Inc., Series V, 5.625%, 4/1/2020 (b)
|
|
|
920,000
|
|
929,200
|
|
Cincinnati Bell, Inc.:
|
|
|
|
|
|
|
|
|
|
8.25%, 10/15/2017
|
|
|
9,845,000
|
|
10,263,412
|
|
|
8.375%, 10/15/2020 (b)
|
|
|
7,925,000
|
|
8,142,937
|
|
|
8.75%, 3/15/2018 (b)
|
|
|
3,155,000
|
|
3,158,944
|
|
CPI International, Inc., 8.0%, 2/15/2018
|
|
|
2,060,000
|
|
2,121,800
|
|
Cricket Communications, Inc., 7.75%, 10/15/2020 (b)
|
|
|
12,260,000
|
|
11,769,600
|
|
Digicel Group Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 8.25%, 9/30/2020
|
|
|
7,095,000
|
|
7,343,325
|
|
|
144A, 10.5%, 4/15/2018
|
|
|
4,005,000
|
|
4,245,300
|
|
Digicel Ltd.:
|
|
|
|
|
|
|
|
|
|
144A, 7.0%, 2/15/2020
|
|
|
800,000
|
|
808,000
|
|
|
144A, 8.25%, 9/1/2017
|
|
|
12,540,000
|
|
13,041,600
|
|
ERC Ireland Preferred Equity Ltd., 144A, 7.69% **, 2/15/2017 (PIK) *
|
EUR
|
|
4,552,995
|
|
0
|
|
Frontier Communications Corp.:
|
|
|
|
|
|
|
|
|
|
7.125%, 1/15/2023 (b)
|
|
|
12,450,000
|
|
12,387,750
|
|
|
7.625%, 4/15/2024
|
|
|
980,000
|
|
982,450
|
|
|
8.25%, 4/15/2017 (b)
|
|
|
2,796,000
|
|
3,145,500
|
|
|
8.5%, 4/15/2020 (b)
|
|
|
4,270,000
|
|
4,707,675
|
|
|
8.75%, 4/15/2022
|
|
|
7,110,000
|
|
7,749,900
|
|
Intelsat Jackson Holdings SA:
|
|
|
|
|
|
|
|
|
|
144A, 5.5%, 8/1/2023
|
|
|
5,870,000
|
|
5,517,800
|
|
|
144A, 6.625%, 12/15/2022
|
|
|
2,305,000
|
|
2,235,850
|
|
|
7.25%, 10/15/2020
|
|
|
10,060,000
|
|
10,563,000
|
|
|
7.5%, 4/1/2021
|
|
|
9,610,000
|
|
10,090,500
|
|
|
8.5%, 11/1/2019
|
|
|
4,825,000
|
|
5,198,937
|
|
Intelsat Luxembourg SA:
|
|
|
|
|
|
|
|
|
|
144A, 7.75%, 6/1/2021
|
|
|
5,970,000
|
|
6,029,700
|
|
|
144A, 8.125%, 6/1/2023
|
|
|
950,000
|
|
980,875
|
|
Level 3 Communications, Inc., 8.875%, 6/1/2019 (b)
|
|
|
545,000
|
|
566,800
|
|
Level 3 Financing, Inc.:
|
|
|
|
|
|
|
|
|
|
7.0%, 6/1/2020 (b)
|
|
|
7,115,000
|
|
7,097,212
|
|
|
8.125%, 7/1/2019
|
|
|
5,585,000
|
|
5,864,250
|
|
|
8.625%, 7/15/2020
|
|
|
4,660,000
|
|
4,962,900
|
|
Lynx I Corp., 144A, 5.375%, 4/15/2021
|
|
|
900,000
|
|
904,500
|
|
MetroPCS Wireless, Inc.:
|
|
|
|
|
|
|
|
|
|
6.625%, 11/15/2020
|
|
|
6,755,000
|
|
7,008,312
|
|
|
144A, 6.625%, 4/1/2023
|
|
|
2,300,000
|
|
2,340,250
|
|
|
7.875%, 9/1/2018 (b)
|
|
|
3,260,000
|
|
3,471,900
|
|
Millicom International Cellular SA, 144A, 4.75%, 5/22/2020
|
|
|
6,700,000
|
|
6,366,742
|
|
NII Capital Corp., 7.625%, 4/1/2021
|
|
|
2,570,000
|
|
1,998,175
|
|
Pacnet Ltd., 144A, 9.25%, 11/9/2015
|
|
|
3,696,000
|
|
3,696,000
|
|
SBA Communications Corp., 144A, 5.625%, 10/1/2019
|
|
|
1,920,000
|
|
1,900,800
|
|
SBA Telecommunications, Inc., 144A, 5.75%, 7/15/2020
|
|
|
4,000,000
|
|
4,010,000
|
|
Sprint Nextel Corp.:
|
|
|
|
|
|
|
|
|
|
6.0%, 12/1/2016
|
|
|
8,320,000
|
|
8,777,600
|
|
|
6.0%, 11/15/2022 (b)
|
|
|
3,230,000
|
|
3,165,400
|
|
|
8.375%, 8/15/2017
|
|
|
2,810,000
|
|
3,154,225
|
|
|
9.125%, 3/1/2017
|
|
|
2,880,000
|
|
3,312,000
|
|
Syniverse Holdings, Inc., 9.125%, 1/15/2019
|
|
|
1,015,000
|
|
1,083,513
|
|
Telenet Finance Luxembourg SCA, 144A, 6.375%, 11/15/2020
|
EUR
|
|
5,000,000
|
|
6,657,937
|
|
Telenet Finance V Luxembourg SCA:
|
|
|
|
|
|
|
|
|
|
144A, 6.25%, 8/15/2022
|
EUR
|
|
2,220,000
|
|
2,904,110
|
|
|
144A, 6.75%, 8/15/2024
|
EUR
|
|
2,220,000
|
|
2,926,938
|
|
tw telecom holdings, Inc., 5.375%, 10/1/2022
|
|
|
2,625,000
|
|
2,605,313
|
|
UPCB Finance III Ltd., 144A, 6.625%, 7/1/2020
|
|
|
1,495,000
|
|
1,547,325
|
|
UPCB Finance V Ltd., 144A, 7.25%, 11/15/2021
|
|
|
2,180,000
|
|
2,305,350
|
|
UPCB Finance VI Ltd., 144A, 6.875%, 1/15/2022
|
|
|
2,065,000
|
|
2,137,275
|
|
Wind Acquisition Finance SA:
|
|
|
|
|
|
|
|
|
|
144A, 6.5%, 4/30/2020
|
|
|
1,850,000
|
|
1,836,125
|
|
|
144A, 7.25%, 2/15/2018
|
|
|
3,475,000
|
|
3,501,063
|
|
Windstream Corp.:
|
|
|
|
|
|
|
|
|
|
6.375%, 8/1/2023 (b)
|
|
|
2,335,000
|
|
2,183,225
|
|
|
7.0%, 3/15/2019
|
|
|
3,405,000
|
|
3,413,513
|
|
|
7.5%, 6/1/2022
|
|
|
17,080,000
|
|
17,421,600
|
|
|
7.5%, 4/1/2023
|
|
|
3,810,000
|
|
3,867,150
|
|
|
7.75%, 10/15/2020 (b)
|
|
|
1,400,000
|
|
1,449,000
|
|
|
7.75%, 10/1/2021 (b)
|
|
|
3,070,000
|
|
3,177,450
|
|
|
7.875%, 11/1/2017
|
|
|
3,775,000
|
|
4,143,063
|
|
|
8.125%, 9/1/2018
|
|
|
1,730,000
|
|
1,842,450
|
|
|
|
269,497,321
|
|
Utilities 1.9%
|
|
AES Corp.:
|
|
|
|
|
|
|
|
|
|
4.875%, 5/15/2023 (b)
|
|
|
920,000
|
|
857,900
|
|
|
8.0%, 10/15/2017
|
|
|
2,680,000
|
|
3,015,000
|
|
|
8.0%, 6/1/2020 (b)
|
|
|
4,120,000
|
|
4,696,800
|
|
Calpine Corp.:
|
|
|
|
|
|
|
|
|
|
144A, 7.5%, 2/15/2021
|
|
|
3,530,000
|
|
3,768,275
|
|
|
144A, 7.875%, 7/31/2020
|
|
|
4,099,000
|
|
4,447,415
|
|
Energy Future Holdings Corp., Series Q, 6.5%, 11/15/2024
|
|
|
4,626,000
|
|
3,168,810
|
|
Energy Future Intermediate Holding Co., LLC:
|
|
|
|
|
|
|
|
|
|
10.0%, 12/1/2020
|
|
|
1,115,000
|
|
1,220,925
|
|
|
11.0%, 10/1/2021
|
|
|
4,269,000
|
|
4,578,502
|
|
NRG Energy, Inc., 7.625%, 1/15/2018
|
|
|
1,660,000
|
|
1,776,200
|
|
|
|
27,529,827
|
|
|
Total Corporate Bonds
(Cost $1,326,566,399)
|
|
1,343,398,977
|
|
|
Government & Agency Obligation 0.1%
|
|
U.S. Treasury Obligation
|
|
|
U.S. Treasury Note, 0.75%, 6/15/2014 (d) (Cost $2,015,476)
|
|
|
2,000,000
|
|
2,010,546
|
|
|
Loan Participations and Assignments 1.0%
|
|
Senior Loans ** 0.7%
|
|
Alliance Mortgage Cycle Loan, Term Loan A, 9.5%, 6/15/2010*
|
|
|
3,500,000
|
|
0
|
|
Buffets, Inc., Letter of Credit, First Lien, LIBOR plus 9.25%, 4/22/2015*
|
|
|
501,659
|
|
234,525
|
|
Caesars Entertainment Operating Co., Term Loan B6, 5.443%, 1/26/2018
|
|
|
1,480,212
|
|
1,312,104
|
|
Chesapeake Energy Corp., Term Loan, 5.75%, 12/1/2017
|
|
|
3,680,000
|
|
3,732,900
|
|
Travelport LLC, Second Lien Term Loan, 9.5%, 1/29/2016
|
|
|
1,764,528
|
|
1,813,053
|
|
WP Prism, Inc., Term Loan, 6.25%, 5/31/2018
|
|
|
2,500,000
|
|
2,508,325
|
|
|
|
9,600,907
|
|
Sovereign Loan 0.3%
|
|
Vimpel Communications, 144A, 6.493%, 2/2/2016
|
|
|
4,130,000
|
|
4,305,525
|
|
|
Total Loan Participations and Assignments
(Cost $17,229,283)
|
|
13,906,432
|
|
|
|
|
Consumer Discretionary 0.4%
|
|
Group 1 Automotive, Inc., 3.0%, 3/15/2020
|
|
|
3,020,000
|
|
5,469,975
|
|
MGM Resorts International, 4.25%, 4/15/2015
|
|
|
405,000
|
|
453,347
|
|
|
|
5,923,322
|
|
Materials 0.8%
|
|
GEO Specialty Chemicals, Inc., 144A, 7.5%, 3/31/2015 (PIK)
|
|
|
7,287,779
|
|
11,287,312
|
|
|
Total Convertible Bonds
(Cost $10,651,026)
|
|
17,210,634
|
|
|
|
|
Materials
|
|
|
Hercules, Inc., 6.5%, 6/30/2029 (Cost $4,629,361)
|
|
|
6,975,000
|
|
6,068,250
|
|
|
|
|
|
|
|
Units
|
|
Value ($)
|
|
|
|
|
Consumer Discretionary
|
|
|
AOT Bedding Super Holdings LLC* (e) (Cost $221,000)
|
|
662
|
|
2,302,171
|
|
|
|
|
|
|
|
Shares
|
|
Value ($)
|
|
|
|
|
Consumer Discretionary 0.0%
|
|
Buffets Restaurants Holdings, Inc.*
|
|
4,492
|
|
28,075
|
|
Trump Entertainment Resorts, Inc.*
|
|
366
|
|
0
|
|
Vertis Holdings, Inc.*
|
|
4,521
|
|
0
|
|
|
|
28,075
|
|
Industrials 0.0%
|
|
Congoleum Corp.*
|
|
135,300
|
|
0
|
|
Materials 0.1%
|
|
GEO Specialty Chemicals, Inc.*
|
|
136,705
|
|
81,285
|
|
GEO Specialty Chemicals, Inc. 144A*
|
|
12,448
|
|
7,402
|
|
Wolverine Tube, Inc.*
|
|
46,935
|
|
850,462
|
|
|
|
939,149
|
|
|
Total Common Stocks
(Cost $2,900,829)
|
|
967,224
|
|
|
|
|
Financials
|
|
|
Ally Financial, Inc., 144A, 7.0% (Cost $7,725,763)
|
|
8,405
|
|
7,989,216
|
|
|
|
|
Consumer Discretionary 0.0%
|
|
Reader's Digest Association, Inc., Expiration Date 2/19/2014*
|
|
7,982
|
|
0
|
|
Materials 0.0%
|
|
GEO Specialty Chemicals, Inc., Expiration Date 3/31/2015*
|
|
672,806
|
|
395,005
|
|
Hercules Trust II, Expiration Date 3/31/2029*
|
|
6,700
|
|
88,649
|
|
|
|
483,654
|
|
|
Total Warrants
(Cost $1,482,531)
|
|
483,654
|
|
|
Securities Lending Collateral 12.2%
|
|
Daily Assets Fund Institutional, 0.10% (f) (g)
(Cost $174,481,651)
|
|
|
174,481,651
|
|
174,481,651
|
|
|
|
|
Central Cash Management Fund, 0.07% (f)
(Cost $11,498,230)
|
|
|
11,498,230
|
|
11,498,230
|
|
|
|
|
|
|
|
% of
Net Assets
|
|
Value ($)
|
|
|
Total Investment Portfolio
(Cost $1,559,401,549) †
|
110.7
|
|
1,580,316,985
|
|
Other Assets and Liabilities, Net
(b)
|
(10.7)
|
|
(153,220,510)
|
|
|
Net Assets
|
100.0
|
|
1,427,096,475
|
|