Fund Facts  

Inception Date: May 1, 2014
Ticker Symbol: VQHYX
Registration Date: May 1, 2014
Morningstar Category:High Yield Bond
As of Sep 30, 2016
Fund Net Assets ($millions) $354

Documents for Fund or Underlying Fund(s)  

Description

Objective  

To seek current income and capital appreciation.

Principal Investment Strategies  

The Fund invests, under normal circumstances, at least 80% of its net assets in high yield fixed income securities and other instruments that are rated below investment grade. For purposes of this 80% policy, the Fund considers a below investment grade rating to be a rating that is below the four highest grades by Standard & Poor’s, Moody’s Investors Service, Inc., or Fitch Ratings. Below investment grade securities are commonly referred to as “junk bonds.” These investments may include the following:

• U.S. or foreign corporate fixed income securities;
• U.S. or foreign floating rate loans;
• U.S. or foreign mortgage-backed securities;
• U.S. or foreign asset-backed securities;
• Municipal securities;
• Fixed income securities issued or guaranteed by foreign governments or their agencies or instrumentalities, or supranational organizations; and
• U.S. or foreign convertible fixed income securities.

The Fund’s fixed income investments may be of any maturity.

The Fund’s investments in floating rate loans may not exceed 30% of the Fund’s net assets.

The Fund also may invest up to 20% of its net assets in:

• Securities and instruments of any type that are not considered to be below investment grade; and
• Unrated securities and instruments of the types listed above that the Fund’s subadviser(s) determines are below investment grade in quality.

The Fund may invest no more than 50% of its net assets in foreign securities or other foreign instruments. In addition, the Fund may invest no more than 30% of its net assets in securities or other instruments of issuers located in emerging market countries (these investments are also subject to the 50% limit above). The Fund primarily invests in U.S. dollar denominated instruments.

The Fund also may invest up to 20% of its net assets in derivative instruments. The Fund’s subadviser may use forwards, futures, options, swap agreements, and swaptions to manage risk or to obtain or adjust investment exposure. The Fund’s investments in credit default swaps, if any, will be less than 5% of the Fund’s net assets.

The Fund is available for investment only by the Vantagepoint Model Portfolio Funds and Vantagepoint Milestone Funds.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. The Fund’s principal investment risks include High Yield Securities Risk, Credit Risk, Interest Rate Risk, Call Risk, Floating Rate Loans Risk, Mortgage-Backed Securities Risk, Asset-Backed Securities Risk, Prepayment and Extension Risk, U.S. Government Agency Securities Risk, Municipal Securities Risk, Foreign Securities Risk, Foreign Government Securities Risk, Emerging Markets Securities Risk, Foreign Currency Risk, Convertible Securities Risk, Derivative Instruments Risk, Liquidity Risk, Multi-Manager Risk.
Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vantagepoint High Yield T   4.97%13.08%10.38%N/AN/AN/A1.85%
Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Bond Indexa,b5.55%15.11%12.74%5.30%8.34%7.80%N/A
Morningstar High Yield Bonda,c4.70%11.45%9.13%3.76%7.05%6.15%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total annual fund operating expenses   0.81%
Fee waiver and/or expense reimbursement0.08%
Total Expenses0.73%

A contractual expense waiver exists for this fund and will expire on 04-30-2017.

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Bond Index is an issuer-constrained version of the Bloomberg Barclays U.S. Corporate High Yield Index that measures the market of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds. The Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Bond Index limits the exposure of each issuer to 2% of the total market value and redistributes any excess market value index-wide on a pro-rata basis.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal–weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 23, 2016Sep 23, 2016$0.120434000
Aug 31, 2016Aug 31, 2016$0.047685000
Jul 29, 2016Jul 29, 2016$0.071562000
Jun 30, 2016Jun 30, 2016$0.039277000
May 31, 2016May 31, 2016$0.048871000
Apr 29, 2016Apr 29, 2016$0.040603000
Mar 31, 2016Mar 31, 2016$0.044531000
Feb 29, 2016Feb 29, 2016$0.044435000
Jan 29, 2016Jan 29, 2016$0.037679000
Dec 31, 2015Dec 31, 2015$0.057700000
Nov 30, 2015Nov 30, 2015$0.042651000
Oct 30, 2015Oct 30, 2015$0.041607000
Sep 30, 2015Sep 30, 2015$0.051181000
Aug 31, 2015Aug 31, 2015$0.043469000
Jul 31, 2015Jul 31, 2015$0.043687000
Jun 30, 2015Jun 30, 2015$0.044115000
May 29, 2015May 29, 2015$0.042144000
Apr 30, 2015Apr 30, 2015$0.039151000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2016
Period Stars Category Size
Overall N/A N/A
3-Year N/A N/A
5-Year N/A N/A
10-Year N/A N/A
 
Morningstar Stylebox As of Sep 30, 2016
Fixed Income Stylebox
Low Moderate
Allocation of Assets As of Aug 31, 2016
Type of Asset Percent
Equity0%
Fixed Income107%
Cash/Other-8%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Aug 31, 2016
Asset ClassPercent
Domestic Stock0.3%
Foreign Stock0.1%
Domestic Bond86.2%
Foreign Bond20.1%
Preferred0.4%
Convertible0.4%
Cash-7.6%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of Aug 31, 2016
SectorPercent
Corporate89.3%
Government12.0%
Securitized4.0%
Derivative0.1%
Cash & Equivalents-7.6%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Aug 31, 2016
Quality LevelPercent
AAA2.3%
AA0.0%
A0.1%
BBB4.3%
BB29.1%
B41.5%
Below B19.5%
Not Rated3.3%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Nov 30, 2016
Holding NamePercent
US 2YR NOTE (CBT) BOND MAR17 (TUH7) COMDTY5.0%
FIDELITY INSTITUTIONAL MONEY MARKET3.8%
US 5YR NOTE (CBT) BOND MAR17 (FVH7) COMDTY3.1%
SPRINT CORP 7.25% 09/15/20211.5%
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 5.334% 10/25/20240.8%
FIRST DATA CORP 7% 12/01/20230.7%
CIT GROUP INC 5% 08/15/20220.6%
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 4.5% 05/15/20210.6%
HCA INC 5.375% 02/01/20250.6%
SPRINT CAPITAL CORP 6.9% 05/01/20190.5%
All Holdings As of Nov 30, 2016
Equity
Holding NameMarket Value
GMAC CAPITAL TRUST I$1,128,606
MAGNUM HUNTER RESOURCES CORP$746,097
ALLERGAN PLC$397,935
HERCULES OFFSHORE INC$14,809
SEVENTY SEVEN ENERGY INC$7,137
 
Fixed Income
Holding NameMarket Value
SPRINT CORP 7.25% 09/15/2021$5,111,813
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 5.334% 10/25/2024$2,674,390
FIRST DATA CORP 7% 12/01/2023$2,471,290
CIT GROUP INC 5% 08/15/2022$2,124,031
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 4.5% 05/15/2021$2,067,500
HCA INC 5.375% 02/01/2025$1,935,500
SPRINT CAPITAL CORP 6.9% 05/01/2019$1,828,750
DISH DBS CORP 5.875% 07/15/2022$1,810,438
UNITED RENTALS NORTH AMERICA INC 6.125% 06/15/2023$1,791,400
MORGAN STANLEY RESECURITIZATION TRUST 2015-R6 0.863% 07/26/2045$1,774,725
PRESTIGE BRANDS INC 5.375% 12/15/2021$1,708,788
NAVIENT CORP 4.875% 06/17/2019$1,694,350
FLEXI-VAN LEASING INC 7.875% 08/15/2018$1,683,600
MIRAN MID-ATLANTIC SERIES C PASS THROUGH TRUST 10.06% 12/30/2028$1,644,122
SFR GROUP SA 7.375% 05/01/2026$1,612,013
T-MOBILE USA INC 6.633% 04/28/2021$1,569,375
INTELSAT JACKSON HOLDINGS SA 7.5% 04/01/2021$1,542,618
STANDARD INDUSTRIES INC/NJ 6% 10/15/2025$1,541,375
INTELSAT JACKSON HOLDINGS SA 8% 02/15/2024$1,503,563
WMG ACQUISITION CORP 5.625% 04/15/2022$1,502,039
SUMMIT MATERIALS LLC / SUMMIT MATERIALS FINANCE CORP 6.125% 07/15/2023$1,453,500
CLEAN HARBORS INC 5.25% 08/01/2020$1,442,430
PACTIV LLC 8.375% 04/15/2027$1,433,250
CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022$1,427,734
NOMURA RESECURITIZATION TRUST 2015-6R 0.793% 05/26/2046$1,412,035
SUBURBAN PROPANE PARTNERS LP/SUBURBAN ENERGY FINANCE CORP 5.5% 06/01/2024$1,385,313
EXTRACTION OIL & GAS HOLDINGS LLC / EXTRACTION FINANCE CORP 7.875% 07/15/2021$1,343,025
CASCADES INC 5.5% 07/15/2022$1,334,563
AMERIGAS FINANCE LLC / AMERIGAS FINANCE CORP 7% 05/20/2022$1,329,300
CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 4.908% 07/23/2025$1,286,141
ACADIA HEALTHCARE CO INC 5.125% 07/01/2022$1,283,700
DAVITA HEALTHCARE PARTNERS INC 5.125% 07/15/2024$1,236,719
TENET HEALTHCARE CORP 6.75% 06/15/2023$1,226,225
CHURCHILL DOWNS INC 5.375% 12/15/2021$1,216,800
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENERGY PARTNERS FINANCE CORP 7.375% 02/01/2020$1,213,900
NIELSEN FINANCE LLC / NIELSEN FINANCE CO 5% 04/15/2022$1,208,025
FIRST QUALITY FINANCE CO INC 4.625% 05/15/2021$1,186,500
UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023$1,182,285
ESH HOSPITALITY INC 5.25% 05/01/2025$1,178,550
UNITED AIRLINES 2013-1 CLASS B PASS THROUGH TRUST 5.375% 02/15/2023$1,171,714
HD SUPPLY INC 5.75% 04/15/2024$1,153,125
BRINKER INTERNATIONAL INC 5% 10/01/2024$1,152,875
CONSTELLATION BRANDS INC 6% 05/01/2022$1,142,500
ENVISION HEALTHCARE CORP 5.125% 07/01/2022$1,138,500
ALCOA NEDERLAND HOLDING BV 6.75% 09/30/2024$1,134,125
NRG ENERGY INC 6.25% 07/15/2022$1,123,363
MILACRON LLC / MCRON FINANCE CORP 7.75% 02/15/2021$1,119,638
BLUELINE RENTAL FINANCE CORP 7% 02/01/2019$1,119,400
PINNACLE FOODS FINANCE LLC / PINNACLE FOODS FINANCE CORP 4.875% 05/01/2021$1,114,838
GEO GROUP INC/THE 6% 04/15/2026$1,104,925
INGLES MARKETS INC 5.75% 06/15/2023$1,089,489
TERRAFORM POWER OPERATING LLC 5.875% 02/01/2023$1,079,190
REYNOLDS GROUP ISSUER INC / REYNOLDS GROUP ISSUER LLC / REYNOLDS GROUP ISSUER LU 7% 07/15/2024$1,078,650
APEX TOOL GROUP LLC 7% 02/01/2021$1,072,425
AMERICAN AIRLINES 2013-2 CLASS B PASS THROUGH TRUST 5.6% 01/15/2022$1,067,915
MPH ACQUISITION HOLDINGS LLC 7.125% 06/01/2024$1,053,750
PARTY CITY HOLDINGS INC 6.125% 08/15/2023$1,052,925
HCA HOLDINGS INC 6.25% 02/15/2021$1,052,000
ASHTEAD CAPITAL INC 6.5% 07/15/2022$1,051,250
OASIS PETROLEUM INC 6.875% 01/15/2023$1,050,600
NCR CORP 5.875% 12/15/2021$1,037,025
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.742% 03/25/2037$1,036,482
DAVITA HEALTHCARE PARTNERS INC 5% 05/01/2025$1,036,150
SFR GROUP SA 5.625% 05/15/2024$1,034,002
RITE AID CORP 6.125% 04/01/2023$1,029,744
VALEANT PHARMACEUTICALS INTERNATIONAL 6.75% 08/15/2021$1,025,050
OPEN TEXT CORP 5.625% 01/15/2023$1,022,500
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.625% 12/01/2021$1,019,125
FIRST QUANTUM MINERALS LTD 7.25% 05/15/2022$1,018,875
COVANTA HOLDING CORP 6.375% 10/01/2022$1,017,450
ZF NORTH AMERICA CAPITAL INC 4.5% 04/29/2022$1,010,344
NEIMAN MARCUS GROUP LTD LLC 8.75% 10/15/2021$995,600
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.875% 02/15/2023$989,000
CITIGROUP INC 5.95% 05/15/2025$983,750
SABINE PASS LIQUEFACTION LLC 5.625% 04/15/2023$976,500
HUB INTERNATIONAL LTD 7.875% 10/01/2021$972,563
GLP CAPITAL LP / GLP FINANCING II INC 5.375% 04/15/2026$968,625
NRG YIELD OPERATING LLC 5.375% 08/15/2024$962,588
ZIGGO SECURED FINANCE BV 5.5% 01/15/2027$962,500
SBA COMMUNICATIONS CORP 4.875% 07/15/2022$958,180
NOVELIS CORP 5.875% 09/30/2026$956,194
CEDAR FAIR LP / CANADA'S WONDERLAND CO / MAGNUM MANAGEMENT CORP 5.375% 06/01/2024$950,950
REPERFORMING LOAN REMIC TRUST 2005-R2 8% 06/25/2035$933,026
AMSURG CORP 5.625% 07/15/2022$927,625
WATCO COS LLC / WATCO FINANCE CORP 6.375% 04/01/2023$927,000
CITGO PETROLEUM CORP 6.25% 08/15/2022$923,100
DARLING GLOBAL FINANCE BV 4.75% 05/30/2022$920,457
MURRAY ENERGY CORP TL B2 1L 8.25% 12/30/2016$919,440
ALLISON TRANSMISSION INC 5% 10/01/2024$919,100
COGENT COMMUNICATIONS GROUP INC 5.375% 03/01/2022$914,625
CARLSON TRAVEL HOLDINGS INC 7.5% 08/15/2019$910,800
1011778 BC ULC / NEW RED FINANCE INC 4.625% 01/15/2022$902,613
PILGRIM'S PRIDE CORP 5.75% 03/15/2025$902,250
TENET HEALTHCARE CORP 8.125% 04/01/2022$901,600
FIRST DATA CORP 5% 01/15/2024$901,125
CENTURYLINK INC 5.8% 03/15/2022$889,875
JAGUAR HOLDING CO II / PHARMACEUTICAL PRODUCT DEVELOPMENT LLC 6.375% 08/01/2023$888,019
ALLY FINANCIAL INC 7.5% 09/15/2020$885,891
CTR PARTNERSHIP LP / CARETRUST CAPITAL CORP 5.875% 06/01/2021$869,400
TEMPUR SEALY INTERNATIONAL INC 5.5% 06/15/2026$867,825
WEST CORP 5.375% 07/15/2022$867,375
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 6.75% 05/15/2024$866,318
AXALTA COATING SYSTEMS LLC 4.25% 08/15/2024$865,791
SCIENTIFIC GAMES INTERNATIONAL INC 7% 01/01/2022$863,900
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 4.625% 07/01/2022$861,125
CORRECTIONS CORP OF AMERICA 4.625% 05/01/2023$860,200
WOODSIDE HOMES CO LLC / WOODSIDE HOMES FINANCE INC 6.75% 12/15/2021$859,500
CENTENE CORP 6.125% 02/15/2024$850,531
HCA INC 5.875% 02/15/2026$848,938
CBC AMMO LLC / CBC FINCO INC 7.25% 11/15/2021$844,950
SPECTRUM BRANDS INC 4% 10/01/2026$844,615
IHO VERWALTUNGS GMBH 3.25% 09/15/2023$837,197
BOYD GAMING CORP 6.375% 04/01/2026$832,763
CAPSUGEL SA 7% 05/15/2019$831,756
SIX FLAGS ENTERTAINMENT CORP 4.875% 07/31/2024$831,488
CAESARS ENTERTAINMENT RESORT PROPERTIES LLC / CAESARS ENTERTAINMENT RESORT PROPE 8% 10/01/2020$829,500
NAVIOS MARITIME ACQUISITION CORP / NAVIOS ACQUISITION FINANCE US INC 8.125% 11/15/2021$827,500
HOMEVI SAS 6.875% 08/15/2021$826,371
PLASTIPAK HOLDINGS INC 6.5% 10/01/2021$824,250
UNIVERSAL HOSPITAL SERVICES INC 7.625% 08/15/2020$823,020
VWR FUNDING INC 4.625% 04/15/2022$819,198
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 6.375% 03/01/2024$818,850
KCA DEUTAG UK FINANCE PLC 7.25% 05/15/2021$813,600
SIMMONS FOODS INC 7.875% 10/01/2021$812,000
INTREPID AVIATION GROUP HOLDINGS LLC / INTREPID FINANCE CO 6.875% 02/15/2019$811,094
CHESAPEAKE ENERGY CORP 4.13% 04/15/2019$807,500
CENTURYLINK INC 5.625% 04/01/2025$806,788
H&E EQUIPMENT SERVICES INC 7% 09/01/2022$803,700
ENCORE CREDIT RECEIVABLES TRUST 2005-3 1.627% 10/25/2035$797,070
RENT-A-CENTER INC/TX 6.625% 11/15/2020$795,150
IRON MOUNTAIN INC 6% 10/01/2020$791,250
DBP HOLDING CORP 7.75% 10/15/2020$784,125
QUICKEN LOANS INC 5.75% 05/01/2025$781,650
VIRGIN MEDIA FINANCE PLC 7% 04/15/2023$780,590
ALTICE LUXEMBOURG SA 7.25% 05/15/2022$780,491
ELDORADO GOLD CORP 6.125% 12/15/2020$779,625
POST HOLDINGS INC 5% 08/15/2026$768,488
POST HOLDINGS INC 6% 12/15/2022$765,980
BRUNSWICK CORP/DE 4.625% 05/15/2021$763,125
IMS HEALTH INC 3.5% 10/15/2024$753,269
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 6.375% 05/01/2024$752,338
FAGE INTERNATIONAL SA/ FAGE USA DAIRY INDUSTRY INC 5.625% 08/15/2026$751,875
NATURAL RESOURCE PARTNERS LP / NRP FINANCE CORP 9.125% 10/01/2018$750,750
PHI INC 5.25% 03/15/2019$749,288
OPTION ONE MORTGAGE LOAN TRUST 2005-4 ASSET-BACKED CERTIFICATES SERIES 2005-4 1.082% 11/25/2035$746,302
COMMSCOPE INC 5.5% 06/15/2024$744,829
WILLIAMS COS INC/THE 7.5% 01/15/2031$742,025
JONES ENERGY HOLDINGS LLC / JONES ENERGY FINANCE CORP 6.75% 04/01/2022$741,650
DJO FINCO INC / DJO FINANCE LLC / DJO FINANCE CORP 8.125% 06/15/2021$737,100
TRONOX FINANCE LLC 6.375% 08/15/2020$733,000
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.75% 02/15/2026$731,300
MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP / MGP FINANCE CO-ISSUER INC 5.625% 05/01/2024$729,750
ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSON'S INC / ALBERTSON'S LLC 5.75% 03/15/2025$723,093
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.125% 05/01/2023$718,813
DISH DBS CORP 7.75% 07/01/2026$713,531
REYNOLDS GROUP ISSUER INC / REYNOLDS GROUP ISSUER LLC / REYNOLDS GROUP ISSUER LU 5.125% 07/15/2023$712,931
SANCHEZ ENERGY CORP 7.75% 06/15/2021$706,700
COMMSCOPE INC 5% 06/15/2021$706,294
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 6.02% 06/15/2026$706,106
TECK RESOURCES LTD 8% 06/01/2021$704,576
CENTURY INTERMEDIATE HOLDING CO 2 9.75% 02/15/2019$702,938
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 6.75% 03/15/2024$702,900
MICHAEL BAKER HOLDINGS LLC / MICAHEL BAKER FINANCE CORP 8.875% 04/15/2019$700,709
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.75% 12/15/2023$698,700
LAREDO PETROLEUM INC 5.625% 01/15/2022$696,738
JACK OHIO FINANCE LLC / JACK OHIO FINANCE 1 CORP 6.75% 11/15/2021$693,450
SPRINT CORP 7.875% 09/15/2023$693,450
ALTICE FINANCING SA 6.625% 02/15/2023$691,900
BERRY PETROLEUM CO LLC 6.375% 09/15/2022$689,920
HEALTHSOUTH CORP 5.125% 03/15/2023$688,050
AES CORP/VA 6% 05/15/2026$681,375
ROCKIES EXPRESS PIPELINE LLC 6.875% 04/15/2040$681,360
FRONTIER COMMUNICATIONS CORP 7.625% 04/15/2024$680,988
SHELF DRILLING HOLDINGS LTD 8.625% 11/01/2018$678,525
CLIFFS NATURAL RESOURCES INC 8.25% 03/31/2020$678,038
PETSMART INC 7.125% 03/15/2023$677,325
KFC HOLDING CO/PIZZA HUT HOLDINGS LLC/TACO BELL OF AMERICA LLC 5% 06/01/2024$673,313
ZIGGO BOND FINANCE BV 4.625% 01/15/2025$663,461
BEVERAGES & MORE INC 10% 11/15/2018$660,625
CSC HOLDINGS LLC 6.625% 10/15/2025$660,325
ALCOA NEDERLAND HOLDING BV 7% 09/30/2026$658,750
1011778 BC ULC / NEW RED FINANCE INC 6% 04/01/2022$658,350
LEVEL 3 FINANCING INC 5.125% 05/01/2023$655,819
NEIMAN MARCUS GROUP LTD LLC 8% 10/15/2021$655,700
TELECOM ITALIA SPA/MILANO 5.303% 05/30/2024$652,575
GOODYEAR TIRE & RUBBER CO/THE 7% 05/15/2022$646,519
SPECTRUM BRANDS INC 6.625% 11/15/2022$639,000
HUDBAY MINERALS INC 9.5% 10/01/2020$637,141
GULFPORT ENERGY CORP 6% 10/15/2024$636,719
CNO FINANCIAL GROUP INC 5.25% 05/30/2025$632,363
T-MOBILE USA INC 6% 04/15/2024$631,500
JBS USA LUX SA / JBS USA FINANCE INC 7.25% 06/01/2021$626,175
LANDRY'S INC 6.75% 10/15/2024$621,550
DENBURY RESOURCES INC 5.5% 05/01/2022$620,988
GULFPORT ENERGY CORP 6.625% 05/01/2023$619,500
AES CORP/VA 5.5% 04/15/2025$615,825
IMS HEALTH INC 4.125% 04/01/2023$614,801
VUE INTERNATIONAL BIDCO PLC 7.875% 07/15/2020$614,468
NETFLIX INC 5.875% 02/15/2025$611,388
LINN ENERGY LLC / LINN ENERGY FINANCE CORP 12% 12/15/2020$598,233
ENERGIZER HOLDINGS INC 5.5% 06/15/2025$596,488
GIBSON BRANDS INC 8.875% 08/01/2018$596,400
LIFEPOINT HEALTH INC 5.375% 05/01/2024$596,363
BANK OF AMERICA CORP 6.5% 10/23/2024$593,912
WINDSTREAM SERVICES LLC 7.5% 04/01/2023$592,200
XPO LOGISTICS INC 6.5% 06/15/2022$592,088
DOLLAR TREE INC 5.75% 03/01/2023$589,875
GROUP 1 AUTOMOTIVE INC 5.25% 12/15/2023$589,500
RED OAK POWER LLC 9.2% 11/30/2029$584,500
CSMC SERIES 2015-8R 4.5% 06/27/2036$583,986
SABINE PASS LIQUEFACTION LLC 5.75% 05/15/2024$583,000
SPRINT CORP 7.625% 02/15/2025$580,688
ZIGGO SECURED FINANCE BV 4.25% 01/15/2027$576,010
ARD FINANCE SA 6.625% 09/15/2023$574,535
T-MOBILE USA INC 6.5% 01/15/2026$573,725
GUITAR CENTER INC 9.625% 04/15/2020$573,300
TULLOW OIL PLC 6.25% 04/15/2022$572,800
TPF II/EASTERN POWER/TENASKA 5% 12/30/2016$570,809
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 5.5% 10/15/2019$570,444
FRONTIER COMMUNICATIONS CORP 11% 09/15/2025$563,500
ROSE ROCK MIDSTREAM LP / ROSE ROCK FINANCE CORP 5.625% 11/15/2023$563,450
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.75% 08/01/2022$562,500
ROCKIES EXPRESS PIPELINE LLC 5.625% 04/15/2020$552,525
TMS INTERNATIONAL CORP 7.625% 10/15/2021$551,075
ANGLO AMERICAN CAPITAL PLC 4.875% 05/14/2025$550,800
VWR FUNDING INC 4.625% 04/15/2022$549,797
ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSON'S INC / ALBERTSON'S LLC 6.625% 06/15/2024$549,133
UNITYMEDIA GMBH 3.75% 01/15/2027$546,674
GOODYEAR TIRE & RUBBER CO/THE 5.125% 11/15/2023$543,913
PLANTRONICS INC 5.5% 05/31/2023$542,700
WPX ENERGY INC 8.25% 08/01/2023$542,675
SPECTRUM BRANDS INC 5.75% 07/15/2025$542,100
LEVI STRAUSS & CO 5% 05/01/2025$541,350
SABINE PASS LIQUEFACTION LLC 5% 03/15/2027$534,600
GFL ENVIRONMENTAL INC 9.875% 02/01/2021$534,100
SERVICE CORP INTERNATIONAL/US 5.375% 05/15/2024$533,001
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.375% 03/15/2020$532,350
STEEL DYNAMICS INC 5.125% 10/01/2021$528,988
HEALTHSOUTH CORP 5.75% 11/01/2024$528,938
TENET HEALTHCARE CORP 4.75% 06/01/2020$526,688
UNITED RENTALS NORTH AMERICA INC 5.5% 05/15/2027$525,551
WILLIAM LYON HOMES INC 8.5% 11/15/2020$522,500
WILLIAM CARTER CO/THE 5.25% 08/15/2021$522,250
HOLDING MEDI-PARTENAIRES SAS 7% 05/15/2020$520,256
LAMB WESTON HOLDINGS INC 4.625% 11/01/2024$519,025
LEVEL 3 FINANCING INC 6.125% 01/15/2021$518,125
CALUMET SPECIALTY PRODUCTS PARTNERS LP / CALUMET FINANCE CORP 11.5% 01/15/2021$514,125
L BRANDS INC 6.875% 11/01/2035$512,550
VISTA OUTDOOR INC 5.875% 10/01/2023$512,050
OPE KAG FINANCE SUB INC 7.875% 07/31/2023$511,450
CARROLS RESTAURANT GROUP INC 8% 05/01/2022$511,125
FRONTIER COMMUNICATIONS CORP 7.125% 01/15/2023$510,413
NCL CORP LTD 5.25% 11/15/2019$510,000
T-MOBILE USA INC 6.464% 04/28/2019$508,750
CSC HOLDINGS LLC 5.25% 06/01/2024$507,546
GOLDMAN SACHS GROUP INC/THE 5.15% 05/22/2045$506,660
PRIDE INTERNATIONAL INC 7.875% 08/15/2040$506,415
HCA INC 5.875% 05/01/2023$504,700
ZF NORTH AMERICA CAPITAL INC 4.75% 04/29/2025$502,813
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.875% 05/15/2023$502,500
TEINE ENERGY LTD 6.875% 09/30/2022$502,250
CENTENE CORP 5.625% 02/15/2021$500,763
KENNEDY-WILSON INC 5.875% 04/01/2024$500,569
GREYSTAR REAL ESTATE PARTNERS LLC 8.25% 12/01/2022$500,250
TELENET FINANCE VI LUXEMBOURG SCA 4.875% 07/15/2027$495,855
TMX FINANCE LLC / TITLEMAX FINANCE CORP 8.5% 09/15/2018$495,000
CENTENE CORP 4.75% 05/15/2022$495,000
UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025$494,650
ANGLO AMERICAN CAPITAL PLC 3.625% 05/14/2020$492,450
KLOECKNER PENTAPLAST OF AMERICA INC 7.125% 11/01/2020$491,665
FIDELITY & GUARANTY LIFE HOLDINGS INC 6.375% 04/01/2021$487,550
SFR GROUP SA 6% 05/15/2022$485,400
CHESAPEAKE ENERGY CORP 4.875% 04/15/2022$480,200
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.392% 03/25/2037$479,608
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.625% 12/01/2025$479,550
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.625% 04/15/2021$477,250
CALATLANTIC GROUP INC 5.25% 06/01/2026$476,525
HUNTINGTON INGALLS INDUSTRIES INC 5% 12/15/2021$474,906
RSP PERMIAN INC 6.625% 10/01/2022$474,750
BLUESCOPE STEEL FINANCE LTD/BLUESCOPE STEEL FINANCE USA LLC 6.5% 05/15/2021$474,750
INOVYN FINANCE PLC 6.25% 05/15/2021$474,629
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 5.875% 06/15/2021$474,130
VIKING CRUISES LTD 6.25% 05/15/2025$471,900
VALVOLINE INC 5.5% 07/15/2024$467,438
ALLIANCE ONE INTERNATIONAL INC 9.875% 07/15/2021$459,938
MATTERHORN TELECOM SA 3.875% 05/01/2022$459,632
CAROLINA BEVERAGE GROUP LLC / CAROLINA BEVERAGE GROUP FINANCE INC 10.625% 08/01/2018$458,150
MDC PARTNERS INC 6.5% 05/01/2024$457,788
ABN AMRO BANK NV 4.75% 07/28/2025$456,074
WILLIAMS COS INC/THE 5.75% 06/24/2044$456,000
ECO SERVICES OPERATIONS LLC / ECO FINANCE CORP 8.5% 11/01/2022$455,800
GRIFOLS WORLDWIDE OPERATIONS LTD 5.25% 04/01/2022$455,400
VIRGIN MEDIA FINANCE PLC 4.875% 02/15/2022$453,750
NOVELIS CORP 6.25% 08/15/2024$451,313
LMI AEROSPACE INC 7.375% 07/15/2019$451,125
BLUE RACER MIDSTREAM LLC / BLUE RACER FINANCE CORP 6.125% 11/15/2022$450,800
ANTERO RESOURCES CORP 5.625% 06/01/2023$450,450
MGM RESORTS INTERNATIONAL 4.625% 09/01/2026$450,025
ALTICE FINCO SA 7.625% 02/15/2025$448,744
ENDO FINANCE LLC 5.75% 01/15/2022$448,594
PRECISION DRILLING CORP 6.5% 12/15/2021$447,750
CHESAPEAKE ENERGY CORP 5.5% 09/15/2026$446,250
ANGLO AMERICAN CAPITAL PLC 3.5% 03/28/2022$445,863
TECK RESOURCES LTD 8.5% 06/01/2024$444,600
DCP MIDSTREAM LLC 6.75% 09/15/2037$443,300
NELNET STUDENT LOAN TRUST 2008-3 2.475% 11/25/2024$440,902
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.125% 02/01/2025$440,274
IASIS HEALTHCARE LLC / IASIS CAPITAL CORP 8.375% 05/15/2019$440,000
OASIS PETROLEUM INC 6.875% 03/15/2022$439,875
LAMAR MEDIA CORP 5.75% 02/01/2026$434,375
SERVICEMASTER CO LLC/THE 5.125% 11/15/2024$432,150
PRIME SECURITY SERVICES BORROWER LLC / PRIME FINANCE INC 9.25% 05/15/2023$431,000
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 6.375% 06/15/2023$430,050
LIFEPOINT HEALTH INC 5.5% 12/01/2021$429,713
GEO GROUP INC/THE 5.875% 10/15/2024$426,800
CALIFORNIA RESOURCES TL1 11.375% 12/12/2016$425,344
PULTEGROUP INC 5.5% 03/01/2026$422,875
FIRST DATA CORP 5.75% 01/15/2024$421,744
DYNEGY INC 6.75% 11/01/2019$421,225
AXALTA COATING SYSTEMS LLC 4.875% 08/15/2024$418,950
DONNELLEY FINANCIAL SOLUTIONS INC 8.25% 10/15/2024$418,200
BWAY HOLDING CO 9.125% 08/15/2021$418,000
FMG RESOURCES AUGUST 2006 PTY LTD 9.75% 03/01/2022$417,096
MOHEGAN TRIBAL GAMING AUTHORITY 7.875% 10/15/2024$412,050
BIOSCRIP INC 8.875% 02/15/2021$409,425
FREEPORT-MCMORAN INC 3.55% 03/01/2022$409,145
COTT CORP 5.5% 07/01/2024$407,654
CHENIERE CORPUS CHRISTI HOLDINGS LLC 7% 06/30/2024$406,600
VIACOM INC 4.375% 03/15/2043$405,335
IMMUCOR INC 11.125% 08/15/2019$404,800
ROYAL BANK OF SCOTLAND GROUP PLC 8.625% 08/15/2021$404,363
OI BRASIL HOLDINGS COOPERATIEF UA 5.75% 02/10/2022$402,500
CIT GROUP INC 5.5% 02/15/2019$402,088
RICE ENERGY INC 7.25% 05/01/2023$400,900
SPEEDWAY MOTORSPORTS INC 5.125% 02/01/2023$400,000
SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025$399,750
HSBC HOLDINGS PLC 6.375% 09/17/2024$397,188
CROWNROCK LP / CROWNROCK FINANCE INC 7.75% 02/15/2023$395,900
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 5.25% 01/15/2025$395,850
CREDIT AGRICOLE SA 8.125% 12/23/2025$394,902
PANDA TEMPLE POWER TERM LOAN 03/15 7.25% 12/30/2016$394,493
MURRAY ENERGY CORP 11.25% 04/15/2021$393,250
DISH NETWORK CORP 3.375% 08/15/2026$392,875
MASTR ASSET BACKED SECURITIES TRUST 2006-FRE1 0.882% 12/25/2035$391,786
SLM STUDENT LOAN TRUST 2008-5 2.582% 07/25/2023$391,145
NGL ENERGY PARTNERS LP / NGL ENERGY FINANCE CORP 7.5% 11/01/2023$390,975
TAYLOR MORRISON COMMUNITIES INC / MONARCH COMMUNITIES INC 5.25% 04/15/2021$390,450
KISSNER HOLDINGS LP / KISSNER MILLING CO LTD / BSC HOLDING INC / KISSNER USA 8.375% 12/01/2022$389,025
AUSDRILL FINANCE PTY LTD 6.875% 11/01/2019$385,700
AMERICAN AXLE & MANUFACTURING INC 6.625% 10/15/2022$383,800
WALTER INVESTMENT MANAGEMENT CORP 7.875% 12/15/2021$383,750
HSBC HOLDINGS PLC 6.375% 03/30/2025$381,713
GAMESTOP CORP 6.75% 03/15/2021$381,425
KINETIC CONCEPTS INC / KCI USA INC 7.875% 02/15/2021$380,700
TENNECO INC 5.375% 12/15/2024$377,775
BOPARAN FINANCE PLC 5.5% 07/15/2021$377,362
BHP BILLITON FINANCE USA LTD 6.75% 10/19/2075$375,700
ENDEAVOR ENERGY RESOURCES LP / EER FINANCE INC 7% 08/15/2021$370,800
TREEHOUSE FOODS INC 6% 02/15/2024$370,088
SIG COMBIBLOC HOLDINGS SCA 7.75% 02/15/2023$369,919
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 7.5% 07/01/2021$368,375
WINDSTREAM SERVICES LLC 7.75% 10/15/2020$368,100
CSC HOLDINGS LLC 5.5% 04/15/2027$366,069
ADIENT GLOBAL HOLDINGS LTD 4.875% 08/15/2026$365,750
IHO VERWALTUNGS GMBH 4.125% 09/15/2021$364,500
GREATBATCH LTD 9.125% 11/01/2023$362,600
GENERAL MOTORS CO 5.2% 04/01/2045$362,081
WESCO DISTRIBUTION INC 5.375% 12/15/2021$361,375
BAYTEX ENERGY CORP 5.125% 06/01/2021$360,013
SOUTHWESTERN ENERGY CO 6.7% 01/23/2025$358,200
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 9.375% 05/01/2020$353,976
STANDARD INDUSTRIES INC/NJ 5.5% 02/15/2023$351,050
CENGAGE LEARNING INC 9.5% 06/15/2024$351,000
TEMPUR SEALY INTERNATIONAL INC 5.625% 10/15/2023$348,500
MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP / MGP FINANCE CO-ISSUER INC 4.5% 09/01/2026$346,500
WHITING PETROLEUM CORP 5.75% 03/15/2021$346,500
COVERIS HOLDINGS SA 7.875% 11/01/2019$345,625
EAGLE MATERIALS INC 4.5% 08/01/2026$345,625
CARRIZO OIL & GAS INC 7.5% 09/15/2020$342,375
CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 6.484% 10/23/2045$338,219
GENWORTH HOLDINGS INC 7.7% 06/15/2020$337,750
IHEARTCOMMUNICATIONS INC 14% 02/01/2021$337,172
CGG SA 6.5% 06/01/2021$336,000
T-MOBILE USA INC 6% 03/01/2023$336,000
TIME WARNER CABLE INC 7.3% 07/01/2038$334,855
GAMESTOP CORP 5.5% 10/01/2019$334,538
CTP TRANSPORTATION PRODUCTS LLC / CTP FINANCE INC 8.25% 12/15/2019$333,900
CONTINENTAL RESOURCES INC/OK 4.9% 06/01/2044$333,450
FIRSTCASH INC 6.75% 04/01/2021$332,800
GENESIS ENERGY LP / GENESIS ENERGY FINANCE CORP 6% 05/15/2023$331,650
VALEANT PHARMACEUTICALS INTERNATIONAL INC 7.5% 07/15/2021$331,013
NRG REMA LLC 9.681% 07/02/2026$330,625
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.25% 05/01/2023$330,000
LAMB WESTON HOLDINGS INC 4.875% 11/01/2026$329,175
DOWNSTREAM DEVELOPMENT AUTHORITY OF THE QUAPAW TRIBE OF OKLAHOMA 10.5% 07/01/2019$328,000
SS&C TECHNOLOGIES HOLDINGS INC 5.875% 07/15/2023$328,000
ALCOA INC 5.95% 02/01/2037$326,740
L BRANDS INC 6.95% 03/01/2033$326,700
PSPC ESCROW CORP 6% 02/01/2023$326,598
PSPC ESCROW CORP 6% 02/01/2023$326,598
ADT CORP/THE 6.25% 10/15/2021$324,750
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 5.45% 06/15/2023$323,781
CONCHO RESOURCES INC 6.5% 01/15/2022$322,400
UNITYMEDIA HESSEN GMBH & CO KG / UNITYMEDIA NRW GMBH 5.625% 04/15/2023$320,991
FREEPORT-MCMORAN INC 3.1% 03/15/2020$316,000
NRG ENERGY INC 7.25% 05/15/2026$314,400
VIRGIN MEDIA FINANCE PLC 6% 10/15/2024$312,713
KRAFT HEINZ FOODS CO 7.125% 08/01/2039$310,818
INTERFACE SECURITY SYSTEMS HOLDINGS INC / INTERFACE SECURITY SYSTEMS LLC 9.25% 01/15/2018$308,838
RANGE RESOURCES CORP 4.875% 05/15/2025$308,750
MODULAR SPACE CORP 10.25% 01/31/2019$308,160
XPO LOGISTICS INC 6.125% 09/01/2023$307,500
TRONOX FINANCE LLC 7.5% 03/15/2022$307,363
NCL CORP LTD 4.625% 11/15/2020$305,250
TENET HEALTHCARE CORP 7.5% 01/01/2022$304,034
LANTHEUS MEDICAL IMAGING TL B 7% 12/30/2016$302,701
STEEL DYNAMICS INC 5.5% 10/01/2024$302,100
FRONTIER COMMUNICATIONS CORP 10.5% 09/15/2022$300,513
CHESAPEAKE ENERGY TL L+750 8/1 8.5% 02/23/2017$300,301
INTERNATIONAL WIRE GROUP INC 10.75% 08/01/2021$299,600
AMERIGAS PARTNERS LP / AMERIGAS FINANCE CORP 5.625% 05/20/2024$297,750
IHO VERWALTUNGS GMBH 4.75% 09/15/2026$296,050
AMAG PHARMACEUTICALS INC 7.875% 09/01/2023$296,050
HERCULES OFFSH TL IL EXIT (FOR 10.5% 12/30/2016$295,557
COOPERATIEVE RABOBANK UA 5.25% 08/04/2045$294,785
SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023$293,250
CORRECTIONS CORP OF AMERICA 5% 10/15/2022$287,825
SOUTHWESTERN ENERGY CO 4.1% 03/15/2022$286,750
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 7.125% 06/15/2024$284,264
ARCELORMITTAL 6.125% 06/01/2025$283,400
CENTRAL GARDEN & PET CO 6.125% 11/15/2023$282,825
US AIRWAYS 2012-2 CLASS B PASS THROUGH TRUST 6.75% 12/03/2022$282,802
LEVEL 3 FINANCING INC 5.375% 08/15/2022$280,500
KRAFT HEINZ FOODS CO 4.875% 02/15/2025$279,698
QEP RESOURCES INC 6.875% 03/01/2021$279,450
GOODYEAR TIRE & RUBBER CO/THE 5% 05/31/2026$278,600
RICE ENERGY INC 6.25% 05/01/2022$277,425
HARDWOODS ACQUISITION INC 7.5% 08/01/2021$275,625
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 4.25% 11/15/2023$274,775
GREEKTOWN HOLDINGS LLC/GREEKTOWN MOTHERSHIP CORP 8.875% 03/15/2019$273,325
US CONCRETE INC 6.375% 06/01/2024$271,700
FLORIDA EAST COAST HOLDINGS CORP 6.75% 05/01/2019$269,100
BNP PARIBAS SA 7.375% 08/19/2025$268,988
GUITAR CENTER INC 6.5% 04/15/2019$266,250
BARCLAYS PLC 8.25% 12/17/2018$265,350
MATCH GROUP INC 6.375% 06/01/2024$265,000
BARCLAYS BANK PLC 7.625% 11/21/2022$263,910
MONITRONICS INTERNATIONAL INC 9.125% 04/01/2020$263,200
STEEL DYNAMICS INC 5% 12/15/2026$261,950
NAVIENT CORP 6.625% 07/26/2021$261,563
MICHAEL BAKER INTERNATIONAL LLC / CDL ACQUISITION CO INC 8.25% 10/15/2018$260,650
JBS USA LUX SA / JBS USA FINANCE INC 7.25% 06/01/2021$258,750
ROCKIES EXPRESS PIPELINE LLC 7.5% 07/15/2038$255,000
TRIBUNE MEDIA CO 5.875% 07/15/2022$254,852
LEVEL 3 FINANCING INC 5.375% 01/15/2024$251,875
FRESENIUS MEDICAL CARE US FINANCE II INC 4.75% 10/15/2024$251,250
SM ENERGY CO 5.625% 06/01/2025$250,900
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.875% 04/01/2024$249,394
IHO VERWALTUNGS GMBH 4.5% 09/15/2023$249,263
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 7.625% 04/22/2046$248,300
BARMINCO FINANCE PTY LTD 9% 06/01/2018$247,450
LAMAR MEDIA CORP 5% 05/01/2023$245,400
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 7.25% 05/15/2024$241,213
SABINE PASS LIQUEFACTION LLC 5.875% 06/30/2026$238,500
CNO FINANCIAL GROUP INC 4.5% 05/30/2020$237,188
ALLY FINANCIAL INC 4.625% 05/19/2022$234,765
TENET HEALTHCARE CORP 4.375% 10/01/2021$234,588
CSC HOLDINGS LLC 10.875% 10/15/2025$233,500
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 6.75% 05/15/2024$233,240
FREEPORT-MCMORAN INC 5.45% 03/15/2043$232,200
ALLY FINANCIAL INC 8% 11/01/2031$228,000
CARMIKE CINEMAS INC 6% 06/15/2023$224,438
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 8.25% 10/15/2023$221,550
RANGE RESOURCES CORP 5% 03/15/2023$221,375
LAREDO PETROLEUM INC 7.375% 05/01/2022$219,450
MEG ENERGY CORP 7% 03/31/2024$219,375
FBM FINANCE INC 8.25% 08/15/2021$218,400
PACIFIC DRILLING V LTD 7.25% 12/01/2017$217,500
SBA COMMUNICATIONS CORP 4.875% 09/01/2024$217,406
PETROBRAS GLOBAL FINANCE BV 6.85% 06/05/2115$213,638
SPRINT COMMUNICATIONS INC 6% 11/15/2022$212,751
CROWN AMERICAS LLC / CROWN AMERICAS CAPITAL CORP V 4.25% 09/30/2026$210,375
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 6.875% 04/22/2021$209,000
BOPARAN FINANCE PLC 4.375% 07/15/2021$208,589
WILLIAMS COS INC/THE 3.7% 01/15/2023$208,450
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 4.875% 04/15/2020$206,850
NAVIENT CORP 5.875% 03/25/2021$205,750
ALTICE FINANCING SA 7.5% 05/15/2026$203,250
RANGE RESOURCES CORP 5% 08/15/2022$202,650
NEOVIA LOGISTICS INTERMEDIATE HOLDINGS LLC / LOGISTICS INTERMEDIATE FINANCE CORP 10% 02/15/2018$199,159
SFR GROUP SA 6.25% 05/15/2024$198,500
NAVIENT CORP 5.5% 01/15/2019$196,574
VIRGIN MEDIA SECURED FINANCE PLC 5.5% 08/15/2026$196,500
NWH ESCROW CORP 7.5% 08/01/2021$195,625
ANTERO MIDSTREAM PARTNERS LP / ANTERO MIDSTREAM FINANCE CORP 5.375% 09/15/2024$194,275
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.375% 05/01/2025$193,563
CARE CAPITAL PROPERTIES LP 5.125% 08/15/2026$192,754
CENTENE CORP 4.75% 01/15/2025$192,000
ALTICE LUXEMBOURG SA 6.25% 02/15/2025$191,908
ALLIANCE ONE INTERNATIONAL INC 8.5% 04/15/2021$191,900
GLOBE LUXEMBOURG SCA 9.625% 05/01/2018$191,875
HCA INC 7.5% 02/15/2022$189,550
FREEPORT-MCMORAN INC 3.875% 03/15/2023$189,000
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.375% 02/01/2027$188,100
DENBURY RESOURCES INC 9% 05/15/2021$187,650
DAVITA INC 5.75% 08/15/2022$187,425
NEUBERGER BERMAN GROUP LLC / NEUBERGER BERMAN FINANCE CORP 5.875% 03/15/2022$186,975
PANDA TEMPLE POWER II ADVANCE 7.25% 12/30/2016$185,068
SPRINT CAPITAL CORP 8.75% 03/15/2032$178,925
ALTICE FINANCING SA 5.25% 02/15/2023$177,845
STANDARD INDUSTRIES INC/NJ 5.125% 02/15/2021$177,650
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 8% 11/29/2024$175,313
GENWORTH HOLDINGS INC 4.9% 08/15/2023$174,300
AMERICAN AIRLINES 2013-1 CLASS B PASS THROUGH TRUST 5.625% 01/15/2021$172,467
POST HOLDINGS INC 7.75% 03/15/2024$171,663
CEC ENTERTAINMENT INC 8% 02/15/2022$171,275
PARSLEY ENERGY LLC / PARSLEY FINANCE CORP 7.5% 02/15/2022$170,200
LG FINANCECO CORP 5.875% 11/01/2024$170,000
HUGHES SATELLITE SYSTEMS CORP 5.25% 08/01/2026$166,031
LIFEPOINT HEALTH INC 5.875% 12/01/2023$164,794
DISH DBS CORP 5% 03/15/2023$158,400
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 5% 10/01/2021$158,250
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-SG1 4.62% 12/15/2047$158,010
COMM 2015-LC21 MORTGAGE TRUST 3.25% 07/10/2048$157,826
HOLLY ENERGY PARTNERS LP / HOLLY ENERGY FINANCE CORP 6% 08/01/2024$156,750
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.75% 02/01/2022$156,281
HCA INC 5.25% 06/15/2026$155,555
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.5% 03/01/2023$155,400
HUGHES SATELLITE SYSTEMS CORP 6.625% 08/01/2026$154,400
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 3% 05/15/2048$152,665
TAYLOR MORRISON COMMUNITIES INC / MONARCH COMMUNITIES INC 5.875% 04/15/2023$151,875
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.272% 08/15/2048$151,354
FRONTIER COMMUNICATIONS CORP 6.875% 01/15/2025$150,544
HANESBRANDS INC 4.625% 05/15/2024$150,375
RENT-A-CENTER INC/TX 4.75% 05/01/2021$147,600
MATTERHORN TELECOM SA 3.625% 05/01/2022$147,090
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 6% 04/15/2023$145,600
CONCHO RESOURCES INC 5.5% 04/01/2023$144,641
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.125% 06/15/2019$144,550
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 5.25% 08/01/2026$141,000
NGPL PIPECO LLC 7.768% 12/15/2037$136,500
COMPILER FINANCE SUB INC 7% 05/01/2021$136,300
SM ENERGY CO 6.125% 11/15/2022$136,013
UNITED RENTALS NORTH AMERICA INC 5.875% 09/15/2026$133,250
SABINE PASS LIQUEFACTION LLC 5.625% 03/01/2025$130,781
HANESBRANDS INC 4.875% 05/15/2026$130,299
CONSTELLATION BRANDS INC 4.75% 12/01/2025$129,600
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.772% 08/15/2048$128,787
ENDO FINANCE LLC / ENDO FINCO INC 5.875% 01/15/2023$127,238
GENERAL MOTORS CO 6.6% 04/01/2036$123,691
WPX ENERGY INC 6% 01/15/2022$123,563
NCR CORP 6.375% 12/15/2023$121,325
CARRIZO OIL & GAS INC 6.25% 04/15/2023$117,875
SM ENERGY CO 6.75% 09/15/2026$113,231
NRG ENERGY INC 6.625% 01/15/2027$111,600
EV ENERGY PARTNERS LP / EV ENERGY FINANCE CORP 8% 04/15/2019$109,438
ANGLO AMERICAN CAPITAL PLC 3.25% 04/03/2023$108,920
SPRINT COMMUNICATIONS INC 11.5% 11/15/2021$108,000
WHITING PETROLEUM CORP 6.25% 04/01/2023$107,938
ANGLO AMERICAN CAPITAL PLC 1.5% 04/01/2020$105,511
VALEANT PHARMACEUTICALS INTERNATIONAL 7% 10/01/2020$104,400
LEVEL 3 FINANCING INC 5.625% 02/01/2023$101,750
BERRY PETROLEUM CO LLC 6.75% 11/01/2020$101,700
DIAMONDBACK ENERGY INC 4.75% 11/01/2024$100,250
MEG ENERGY CORP 6.375% 01/30/2023$97,625
GARDA WORLD SECURITY CORP 7.25% 11/15/2021$93,000
CASCADES INC 5.75% 07/15/2023$91,238
MGM RESORTS INTERNATIONAL 6.625% 12/15/2021$87,600
USG CORP 5.5% 03/01/2025$87,559
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.625% 10/15/2023$86,450
ADT CORP/THE 4.125% 06/15/2023$86,175
SM ENERGY CO 5% 01/15/2024$85,275
MALLINCKRODT INTERNATIONAL FINANCE SA 4.75% 04/15/2023$85,000
CGG SA 6.875% 01/15/2022$84,000
NGPL PIPECO LLC 9.625% 06/01/2019$84,000
LAREDO PETROLEUM INC 6.25% 03/15/2023$81,800
ENSCO PLC 4.7% 03/15/2021$80,775
ENSCO PLC 5.75% 10/01/2044$79,200
CONTINENTAL RESOURCES INC/OK 4.5% 04/15/2023$78,200
ADT CORP/THE 3.5% 07/15/2022$75,800
COMMSCOPE INC 4.375% 06/15/2020$71,750
MALLINCKRODT INTERNATIONAL FINANCE SA 3.5% 04/15/2018$70,000
GRAY TELEVISION INC 5.875% 07/15/2026$67,003
CIT GROUP INC 5.375% 05/15/2020$63,600
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 7.75% 09/01/2022$63,450
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 6.125% 10/15/2021$62,813
ALCOA INC 5.125% 10/01/2024$61,500
VIKING CRUISES LTD 8.5% 10/15/2022$61,350
CHESAPEAKE ENERGY CORP 5.75% 03/15/2023$60,550
VALEANT PHARMACEUTICALS INTERNATIONAL 6.375% 10/15/2020$59,850
CORRECTIONS CORP OF AMERICA 4.125% 04/01/2020$59,850
ACADIA HEALTHCARE CO INC 5.625% 02/15/2023$59,400
AES CORP/VA 5.5% 03/15/2024$59,400
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 5.5% 08/15/2022$58,950
GENERAL MOTORS CO 6.75% 04/01/2046$57,904
ENERGY TRANSFER EQUITY LP 5.875% 01/15/2024$56,650
MEG ENERGY CORP 6.5% 03/15/2021$54,300
VALEANT PHARMACEUTICALS INTERNATIONAL 7.25% 07/15/2022$49,500
NEWFIELD EXPLORATION CO 5.625% 07/01/2024$41,450
PRECISION DRILLING CORP 7.75% 12/15/2023$40,700
INTERNATIONAL LEASE FINANCE CORP 8.625% 01/15/2022$36,256
DISH DBS CORP 6.75% 06/01/2021$32,325
OPEN TEXT CORP 5.875% 06/01/2026$31,275
GEO GROUP INC/THE 5.125% 04/01/2023$19,000
TENET HEALTHCARE CORP 4.5% 04/01/2021$9,750
CHESAPEAKE ENERGY CORP 5.375% 06/15/2021$8,700
MAGNUM HUNTER RESOURCES CORP 9.75% 05/15/2020$0
SEVENTY SEVEN ENERGY INC/OLD BOND FIXED 0% 07/15/2022$0
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$13,264,767
 
Other
Holding NameMarket Value
CURRENCY CONTRACT$803,310
USD$132,359
BRITISH POUND$19,993
CURRENCY CONTRACT$19,066
CURRENCY CONTRACT$4,930
CURRENCY CONTRACT$4,767
SWISS FRANC$2,679
SEVENTY SEVEN ENERGY INC$862
CURRENCY CONTRACT$-11
EURO$-3,311
US 2YR NOTE (CBT) BOND MAR17 (TUH7) COMDTY$-6,510
US 5YR NOTE (CBT) BOND MAR17 (FVH7) COMDTY$-14,964
CURRENCY CONTRACT$-39,008
USD$-233,658
All Holdings As of Oct 31, 2016
Equity
Holding NameMarket Value
GMAC CAPITAL TRUST I$1,145,659
MAGNUM HUNTER RESOURCES CORP$827,195
ALLERGAN PLC$426,795
HERCULES OFFSHORE INC$20,980
SEVENTY SEVEN ENERGY INC$7,032
 
Fixed Income
Holding NameMarket Value
SPRINT CORP 7.25% 09/15/2021$5,105,594
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 5.284% 10/25/2024$2,668,785
FIRST DATA CORP 7% 12/01/2023$2,472,750
CIT GROUP INC 5% 08/15/2022$2,174,906
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 4.5% 05/15/2021$2,084,000
HCA INC 5.375% 02/01/2025$2,018,351
SPRINT CAPITAL CORP 6.9% 05/01/2019$1,846,250
DISH DBS CORP 5.875% 07/15/2022$1,806,075
UNITED RENTALS NORTH AMERICA INC 6.125% 06/15/2023$1,774,500
MORGAN STANLEY RESECURITIZATION TRUST 2015-R6 0.788% 07/26/2045$1,728,110
PRESTIGE BRANDS INC 5.375% 12/15/2021$1,725,338
FLEXI-VAN LEASING INC 7.875% 08/15/2018$1,711,050
WMG ACQUISITION CORP 5.625% 04/15/2022$1,685,656
NAVIENT CORP 4.875% 06/17/2019$1,663,506
CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022$1,630,938
SFR GROUP SA 7.375% 05/01/2026$1,628,113
STANDARD INDUSTRIES INC/NJ 6% 10/15/2025$1,581,864
T-MOBILE USA INC 6.633% 04/28/2021$1,576,875
INTELSAT JACKSON HOLDINGS SA 7.5% 04/01/2021$1,565,100
MIRAN MID-ATLANTIC SERIES C PASS THROUGH TRUST 10.06% 12/30/2028$1,541,821
INTELSAT JACKSON HOLDINGS SA 8% 02/15/2024$1,499,850
DOLLAR TREE INC 5.75% 03/01/2023$1,471,250
SUMMIT MATERIALS LLC / SUMMIT MATERIALS FINANCE CORP 6.125% 07/15/2023$1,467,750
PACTIV LLC 8.375% 04/15/2027$1,452,750
CLEAN HARBORS INC 5.25% 08/01/2020$1,438,905
NOMURA RESECURITIZATION TRUST 2015-6R 0.724% 05/26/2046$1,424,757
SUBURBAN PROPANE PARTNERS LP/SUBURBAN ENERGY FINANCE CORP 5.5% 06/01/2024$1,409,375
EXTRACTION OIL & GAS HOLDINGS LLC / EXTRACTION FINANCE CORP 7.875% 07/15/2021$1,349,375
CASCADES INC 5.5% 07/15/2022$1,343,575
AMERIGAS FINANCE LLC / AMERIGAS FINANCE CORP 7% 05/20/2022$1,332,450
CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 4.908% 07/23/2025$1,328,930
TENET HEALTHCARE CORP 6.75% 06/15/2023$1,317,388
ACADIA HEALTHCARE CO INC 5.125% 07/01/2022$1,300,200
UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023$1,246,440
NIELSEN FINANCE LLC / NIELSEN FINANCE CO 5% 04/15/2022$1,228,500
CONVATEC FINANCE INTERNATIONAL SA 8.25% 01/15/2019$1,220,000
CHURCHILL DOWNS INC 5.375% 12/15/2021$1,216,800
FIRST QUALITY FINANCE CO INC 4.625% 05/15/2021$1,210,500
ESH HOSPITALITY INC 5.25% 05/01/2025$1,205,888
VALEANT PHARMACEUTICALS INTERNATIONAL 6.75% 08/15/2021$1,204,950
HD SUPPLY INC 5.75% 04/15/2024$1,184,063
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENERGY PARTNERS FINANCE CORP 7.375% 02/01/2020$1,180,350
BRINKER INTERNATIONAL INC 5% 10/01/2024$1,173,000
UNITED AIRLINES 2013-1 CLASS B PASS THROUGH TRUST 5.375% 02/15/2023$1,166,114
CONSTELLATION BRANDS INC 6% 05/01/2022$1,165,000
ENVISION HEALTHCARE CORP 5.125% 07/01/2022$1,155,750
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.684% 03/25/2037$1,137,204
FIRST DATA CORP 5% 01/15/2024$1,135,906
MILACRON LLC / MCRON FINANCE CORP 7.75% 02/15/2021$1,125,113
NRG ENERGY INC 6.25% 07/15/2022$1,123,363
PINNACLE FOODS FINANCE LLC / PINNACLE FOODS FINANCE CORP 4.875% 05/01/2021$1,120,263
INGLES MARKETS INC 5.75% 06/15/2023$1,102,400
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.75% 08/01/2022$1,095,375
ALCOA NEDERLAND HOLDING BV 6.75% 09/30/2024$1,094,563
REYNOLDS GROUP ISSUER INC / REYNOLDS GROUP ISSUER LLC / REYNOLDS GROUP ISSUER LU 7% 07/15/2024$1,092,038
APEX TOOL GROUP LLC 7% 02/01/2021$1,087,238
SFR GROUP SA 5.625% 05/15/2024$1,085,414
AMERICAN AIRLINES 2013-2 CLASS B PASS THROUGH TRUST 5.6% 01/15/2022$1,082,120
HCA HOLDINGS INC 6.25% 02/15/2021$1,081,250
PARTY CITY HOLDINGS INC 6.125% 08/15/2023$1,076,913
TERRAFORM POWER OPERATING LLC 5.875% 02/01/2023$1,057,875
ASHTEAD CAPITAL INC 6.5% 07/15/2022$1,053,750
NCR CORP 5.875% 12/15/2021$1,044,450
COVANTA HOLDING CORP 6.375% 10/01/2022$1,042,950
OPEN TEXT CORP 5.625% 01/15/2023$1,040,620
NEIMAN MARCUS GROUP LTD LLC 8.75% 10/15/2021$1,037,356
ZF NORTH AMERICA CAPITAL INC 4.5% 04/29/2022$1,035,938
DAVITA HEALTHCARE PARTNERS INC 5.125% 07/15/2024$1,029,000
CITIGROUP INC 5.95% 05/15/2025$1,023,750
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.625% 12/01/2021$1,018,875
BLUELINE RENTAL FINANCE CORP 7% 02/01/2019$1,017,900
RITE AID CORP 6.125% 04/01/2023$1,016,400
GLP CAPITAL LP / GLP FINANCING II INC 5.375% 04/15/2026$1,006,425
OASIS PETROLEUM INC 6.875% 01/15/2023$1,004,700
FIRST QUANTUM MINERALS LTD 7.25% 05/15/2022$994,056
GEO GROUP INC/THE 6% 04/15/2026$993,288
SABINE PASS LIQUEFACTION LLC 5.625% 04/15/2023$992,775
NRG YIELD OPERATING LLC 5.375% 08/15/2024$989,125
REPERFORMING LOAN REMIC TRUST 2005-R2 8% 06/25/2035$976,718
SBA COMMUNICATIONS CORP 4.875% 07/15/2022$976,488
DBP HOLDING CORP 7.75% 10/15/2020$975,375
HUB INTERNATIONAL LTD 7.875% 10/01/2021$973,465
NOVELIS CORP 5.875% 09/30/2026$969,325
CEDAR FAIR LP / CANADA'S WONDERLAND CO / MAGNUM MANAGEMENT CORP 5.375% 06/01/2024$964,600
TENET HEALTHCARE CORP 8.125% 04/01/2022$962,850
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.875% 02/15/2023$959,100
DARLING GLOBAL FINANCE BV 4.75% 05/30/2022$958,967
ALLISON TRANSMISSION INC 5% 10/01/2024$930,475
MURRAY ENERGY CORP TL B2 1L 8.25% 12/30/2016$927,945
AMSURG CORP 5.625% 07/15/2022$926,494
PILGRIM'S PRIDE CORP 5.75% 03/15/2025$924,750
WATCO COS LLC / WATCO FINANCE CORP 6.375% 04/01/2023$918,000
1011778 BC ULC / NEW RED FINANCE INC 4.625% 01/15/2022$917,010
CENTURYLINK INC 5.8% 03/15/2022$916,875
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 6.75% 05/15/2024$915,112
AXALTA COATING SYSTEMS LLC 4.25% 08/15/2024$913,140
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 6.02% 06/15/2026$906,382
ALLY FINANCIAL INC 7.5% 09/15/2020$902,870
CARLSON TRAVEL HOLDINGS INC 7.5% 08/15/2019$901,600
TEMPUR SEALY INTERNATIONAL INC 5.5% 06/15/2026$898,275
HCA INC 5.875% 02/15/2026$894,625
SPECTRUM BRANDS INC 4% 10/01/2026$893,675
IHO VERWALTUNGS GMBH 3.25% 09/15/2023$882,505
WOODSIDE HOMES CO LLC / WOODSIDE HOMES FINANCE INC 6.75% 12/15/2021$877,500
NATURAL RESOURCE PARTNERS LP / NRP FINANCE CORP 9.125% 10/01/2018$874,125
SCIENTIFIC GAMES INTERNATIONAL INC 7% 01/01/2022$870,909
WEST CORP 5.375% 07/15/2022$869,625
CTR PARTNERSHIP LP / CARETRUST CAPITAL CORP 5.875% 06/01/2021$869,400
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 4.625% 07/01/2022$868,388
JAGUAR HOLDING CO II / PHARMACEUTICAL PRODUCT DEVELOPMENT LLC 6.375% 08/01/2023$866,880
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 6.375% 03/01/2024$860,588
SIX FLAGS ENTERTAINMENT CORP 4.875% 07/31/2024$859,275
BOYD GAMING CORP 6.375% 04/01/2026$854,625
VWR FUNDING INC 4.625% 04/15/2022$848,492
CBC AMMO LLC / CBC FINCO INC 7.25% 11/15/2021$840,650
CAPSUGEL SA 7% 05/15/2019$831,416
KCA DEUTAG UK FINANCE PLC 7.25% 05/15/2021$830,400
UNIVERSAL HOSPITAL SERVICES INC 7.625% 08/15/2020$829,900
CAESARS ENTERTAINMENT RESORT PROPERTIES LLC / CAESARS ENTERTAINMENT RESORT PROPE 8% 10/01/2020$823,575
PLASTIPAK HOLDINGS INC 6.5% 10/01/2021$816,400
INTREPID AVIATION GROUP HOLDINGS LLC / INTREPID FINANCE CO 6.875% 02/15/2019$814,450
CENTURYLINK INC 5.625% 04/01/2025$809,475
SIMMONS FOODS INC 7.875% 10/01/2021$808,000
ALTICE LUXEMBOURG SA 7.25% 05/15/2022$805,735
QUICKEN LOANS INC 5.75% 05/01/2025$803,925
H&E EQUIPMENT SERVICES INC 7% 09/01/2022$803,320
ENCORE CREDIT RECEIVABLES TRUST 2005-3 1.569% 10/25/2035$796,109
IRON MOUNTAIN INC 6% 10/01/2020$795,938
IMS HEALTH INC 3.5% 10/15/2024$789,700
CHESAPEAKE ENERGY CORP 4.13% 04/15/2019$788,375
POST HOLDINGS INC 5% 08/15/2026$787,725
COGENT COMMUNICATIONS GROUP INC 5.375% 03/01/2022$784,700
ELDORADO GOLD CORP 6.125% 12/15/2020$781,550
POST HOLDINGS INC 6% 12/15/2022$778,181
TECK RESOURCES LTD 8.5% 06/01/2024$777,200
BRUNSWICK CORP/DE 4.625% 05/15/2021$777,188
CORRECTIONS CORP OF AMERICA 4.625% 05/01/2023$776,600
FAGE INTERNATIONAL SA/ FAGE USA DAIRY INDUSTRY INC 5.625% 08/15/2026$776,250
CITGO PETROLEUM CORP 6.25% 08/15/2022$775,763
DJO FINCO INC / DJO FINANCE LLC / DJO FINANCE CORP 8.125% 06/15/2021$774,900
WILLIAMS COS INC/THE 7.5% 01/15/2031$773,435
PHI INC 5.25% 03/15/2019$773,138
BIOSCRIP INC 8.875% 02/15/2021$771,900
RENT-A-CENTER INC/TX 6.625% 11/15/2020$768,950
COMMSCOPE INC 5.5% 06/15/2024$762,156
NAVIOS MARITIME ACQUISITION CORP / NAVIOS ACQUISITION FINANCE US INC 8.125% 11/15/2021$760,000
VIRGIN MEDIA FINANCE PLC 7% 04/15/2023$759,629
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 6.375% 05/01/2024$752,338
JONES ENERGY HOLDINGS LLC / JONES ENERGY FINANCE CORP 6.75% 04/01/2022$743,688
OPTION ONE MORTGAGE LOAN TRUST 2005-4 ASSET-BACKED CERTIFICATES SERIES 2005-4 1.024% 11/25/2035$742,427
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.75% 02/15/2026$741,506
MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP / MGP FINANCE CO-ISSUER INC 5.625% 05/01/2024$741,496
ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSON'S INC / ALBERTSON'S LLC 5.75% 03/15/2025$727,422
REYNOLDS GROUP ISSUER INC / REYNOLDS GROUP ISSUER LLC / REYNOLDS GROUP ISSUER LU 5.125% 07/15/2023$724,606
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.125% 05/01/2023$724,500
TRONOX FINANCE LLC 6.375% 08/15/2020$722,000
MPH ACQUISITION HOLDINGS LLC 7.125% 06/01/2024$718,508
COMMSCOPE INC 5% 06/15/2021$713,244
AES CORP/VA 6% 05/15/2026$711,563
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.75% 12/15/2023$710,600
DISH DBS CORP 7.75% 07/01/2026$709,906
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 6.75% 03/15/2024$709,500
HEALTHSOUTH CORP 5.125% 03/15/2023$705,425
MICHAEL BAKER HOLDINGS LLC / MICAHEL BAKER FINANCE CORP 8.875% 04/15/2019$704,602
FRONTIER COMMUNICATIONS CORP 7.625% 04/15/2024$702,575
ALTICE FINANCING SA 6.625% 02/15/2023$702,100
CENTURY INTERMEDIATE HOLDING CO 2 9.75% 02/15/2019$700,350
ROCKIES EXPRESS PIPELINE LLC 6.875% 04/15/2040$699,730
ZIGGO BOND FINANCE BV 4.625% 01/15/2025$697,483
KFC HOLDING CO/PIZZA HUT HOLDINGS LLC/TACO BELL OF AMERICA LLC 5% 06/01/2024$693,263
SANCHEZ ENERGY CORP 7.75% 06/15/2021$691,900
NEIMAN MARCUS GROUP LTD LLC 8% 10/15/2021$688,900
BERRY PETROLEUM CO LLC 6.375% 09/15/2022$683,760
LAREDO PETROLEUM INC 5.625% 01/15/2022$681,100
BEVERAGES & MORE INC 10% 11/15/2018$678,125
TELECOM ITALIA SPA/MILANO 5.303% 05/30/2024$673,200
CLIFFS NATURAL RESOURCES INC 8.25% 03/31/2020$671,119
SHELF DRILLING HOLDINGS LTD 8.625% 11/01/2018$668,150
SPRINT CORP 7.875% 09/15/2023$664,975
MURRAY ENERGY CORP 11.25% 04/15/2021$664,350
CSC HOLDINGS LLC 6.625% 10/15/2025$662,613
1011778 BC ULC / NEW RED FINANCE INC 6% 04/01/2022$659,925
GOODYEAR TIRE & RUBBER CO/THE 7% 05/15/2022$648,056
SPECTRUM BRANDS INC 6.625% 11/15/2022$646,128
ALCOA NEDERLAND HOLDING BV 7% 09/30/2026$640,026
T-MOBILE USA INC 6% 04/15/2024$639,750
AES CORP/VA 5.5% 04/15/2025$639,450
CNO FINANCIAL GROUP INC 5.25% 05/30/2025$639,450
GULFPORT ENERGY CORP 6% 10/15/2024$637,500
IMS HEALTH INC 4.125% 04/01/2023$635,845
LANDRY'S INC 6.75% 10/15/2024$633,950
NETFLIX INC 5.875% 02/15/2025$633,413
JBS USA LUX SA / JBS USA FINANCE INC 7.25% 06/01/2021$623,150
HUDBAY MINERALS INC 9.5% 10/01/2020$623,150
LINN ENERGY LLC / LINN ENERGY FINANCE CORP 12% 12/15/2020$622,515
GULFPORT ENERGY CORP 6.625% 05/01/2023$622,450
DAVITA HEALTHCARE PARTNERS INC 5% 05/01/2025$619,200
BANK OF AMERICA CORP 6.5% 10/23/2024$619,163
LIFEPOINT HEALTH INC 5.375% 05/01/2024$617,706
ENERGIZER HOLDINGS INC 5.5% 06/15/2025$603,925
ARD FINANCE SA 6.625% 09/15/2023$602,148
ZIGGO SECURED FINANCE BV 4.25% 01/15/2027$602,132
VUE INTERNATIONAL BIDCO PLC 7.875% 07/15/2020$600,880
DENBURY RESOURCES INC 5.5% 05/01/2022$600,225
GROUP 1 AUTOMOTIVE INC 5.25% 12/15/2023$600,000
CSMC SERIES 2015-8R 4.5% 06/27/2036$598,997
XPO LOGISTICS INC 6.5% 06/15/2022$594,225
WINDSTREAM SERVICES LLC 7.5% 04/01/2023$593,775
TULLOW OIL PLC 6.25% 04/15/2022$590,400
RED OAK POWER LLC 9.2% 11/30/2029$588,000
SABINE PASS LIQUEFACTION LLC 5.75% 05/15/2024$584,375
T-MOBILE USA INC 6.5% 01/15/2026$582,311
GUITAR CENTER INC 9.625% 04/15/2020$581,100
FRONTIER COMMUNICATIONS CORP 11% 09/15/2025$575,484
TPF II/EASTERN POWER/TENASKA 5% 12/30/2016$575,356
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 5.5% 10/15/2019$573,788
CENTENE CORP 6.125% 02/15/2024$571,113
VWR FUNDING INC 4.625% 04/15/2022$569,458
ROSE ROCK MIDSTREAM LP / ROSE ROCK FINANCE CORP 5.625% 11/15/2023$569,350
SPECTRUM BRANDS INC 5.75% 07/15/2025$565,500
LEVI STRAUSS & CO 5% 05/01/2025$562,950
LAMAR MEDIA CORP 5.75% 02/01/2026$558,688
ROCKIES EXPRESS PIPELINE LLC 5.625% 04/15/2020$558,488
TMS INTERNATIONAL CORP 7.625% 10/15/2021$556,100
SPRINT CORP 7.625% 02/15/2025$552,900
ANGLO AMERICAN CAPITAL PLC 4.875% 05/14/2025$552,150
ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSON'S INC / ALBERTSON'S LLC 6.625% 06/15/2024$551,200
SABINE PASS LIQUEFACTION LLC 5% 03/15/2027$550,800
GOODYEAR TIRE & RUBBER CO/THE 5.125% 11/15/2023$549,875
TENET HEALTHCARE CORP 4.75% 06/01/2020$544,575
HEALTHSOUTH CORP 5.75% 11/01/2024$544,031
L BRANDS INC 6.875% 11/01/2035$543,150
GFL ENVIRONMENTAL INC 9.875% 02/01/2021$539,000
SERVICE CORP INTERNATIONAL/US 5.375% 05/15/2024$538,050
HOLDING MEDI-PARTENAIRES SAS 7% 05/15/2020$537,776
PRIME SECURITY SERVICES BORROWER LLC / PRIME FINANCE INC 9.25% 05/15/2023$532,500
WPX ENERGY INC 8.25% 08/01/2023$531,650
GOLDMAN SACHS GROUP INC/THE 5.15% 05/22/2045$531,453
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.875% 05/15/2023$530,975
ZF NORTH AMERICA CAPITAL INC 4.75% 04/29/2025$529,375
FRONTIER COMMUNICATIONS CORP 7.125% 01/15/2023$529,059
STEEL DYNAMICS INC 5.125% 10/01/2021$528,988
GIBSON BRANDS INC 8.875% 08/01/2018$527,175
WILLIAM LYON HOMES INC 8.5% 11/15/2020$526,250
UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025$523,250
UNITED RENTALS NORTH AMERICA INC 5.5% 05/15/2027$523,031
TELENET FINANCE VI LUXEMBOURG SCA 4.875% 07/15/2027$522,677
WILLIAM CARTER CO/THE 5.25% 08/15/2021$522,500
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.375% 03/15/2020$522,000
HCA INC 5.875% 05/01/2023$521,086
VISTA OUTDOOR INC 5.875% 10/01/2023$516,999
LEVEL 3 FINANCING INC 6.125% 01/15/2021$516,875
TAYLOR MORRISON COMMUNITIES INC / MONARCH COMMUNITIES INC 5.25% 04/15/2021$515,000
CARROLS RESTAURANT GROUP INC 8% 05/01/2022$513,475
NCL CORP LTD 5.25% 11/15/2019$510,000
CENTENE CORP 4.75% 05/15/2022$510,000
CENTENE CORP 5.625% 02/15/2021$509,982
CALUMET SPECIALTY PRODUCTS PARTNERS LP / CALUMET FINANCE CORP 11.5% 01/15/2021$509,625
T-MOBILE USA INC 6.464% 04/28/2019$508,750
KLOECKNER PENTAPLAST OF AMERICA INC 7.125% 11/01/2020$508,525
CSC HOLDINGS LLC 5.25% 06/01/2024$506,250
OPE KAG FINANCE SUB INC 7.875% 07/31/2023$503,500
ALLIANCE ONE INTERNATIONAL INC 9.875% 07/15/2021$503,250
MPLX LP 4.875% 12/01/2024$502,825
GREYSTAR REAL ESTATE PARTNERS LLC 8.25% 12/01/2022$502,550
KENNEDY-WILSON INC 5.875% 04/01/2024$502,425
TEINE ENERGY LTD 6.875% 09/30/2022$501,025
CENTENE CORP 4.75% 01/15/2025$499,063
LEVEL 3 FINANCING INC 5.125% 05/01/2023$496,125
ANGLO AMERICAN CAPITAL PLC 3.625% 05/14/2020$494,900
SFR GROUP SA 6% 05/15/2022$493,954
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.625% 12/01/2025$493,350
WILLIAMS COS INC/THE 5.75% 06/24/2044$492,900
FIDELITY & GUARANTY LIFE HOLDINGS INC 6.375% 04/01/2021$491,225
STANDARD INDUSTRIES INC/NJ 5.5% 02/15/2023$491,150
INOVYN FINANCE PLC 6.25% 05/15/2021$490,281
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.334% 03/25/2037$488,715
CALATLANTIC GROUP INC 5.25% 06/01/2026$486,325
ZIGGO SECURED FINANCE BV 5.5% 01/15/2027$485,100
PLANTRONICS INC 5.5% 05/31/2023$479,400
CHESAPEAKE ENERGY CORP 4.875% 04/15/2022$478,800
IASIS HEALTHCARE LLC / IASIS CAPITAL CORP 8.375% 05/15/2019$478,750
VIKING CRUISES LTD 6.25% 05/15/2025$478,400
HUNTINGTON INGALLS INDUSTRIES INC 5% 12/15/2021$478,319
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.625% 04/15/2021$477,250
RSP PERMIAN INC 6.625% 10/01/2022$476,438
BLUESCOPE STEEL FINANCE LTD/BLUESCOPE STEEL FINANCE USA LLC 6.5% 05/15/2021$475,920
VALVOLINE INC 5.5% 07/15/2024$475,875
MATTERHORN TELECOM SA 3.875% 05/01/2022$475,868
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 5.875% 06/15/2021$474,463
ABN AMRO BANK NV 4.75% 07/28/2025$474,431
PRIDE INTERNATIONAL INC 7.875% 08/15/2040$473,475
ANGLO AMERICAN CAPITAL PLC 3.5% 03/28/2022$466,708
DCP MIDSTREAM LLC 6.75% 09/15/2037$462,000
ECO SERVICES OPERATIONS LLC / ECO FINANCE CORP 8.5% 11/01/2022$461,175
GRIFOLS WORLDWIDE OPERATIONS LTD 5.25% 04/01/2022$460,900
CAROLINA BEVERAGE GROUP LLC / CAROLINA BEVERAGE GROUP FINANCE INC 10.625% 08/01/2018$458,150
MGM RESORTS INTERNATIONAL 4.625% 09/01/2026$454,725
MDC PARTNERS INC 6.5% 05/01/2024$454,475
LMI AEROSPACE INC 7.375% 07/15/2019$453,375
TMX FINANCE LLC / TITLEMAX FINANCE CORP 8.5% 09/15/2018$453,000
ALTICE FINCO SA 7.625% 02/15/2025$452,156
BLUE RACER MIDSTREAM LLC / BLUE RACER FINANCE CORP 6.125% 11/15/2022$451,950
NELNET STUDENT LOAN TRUST 2008-3 2.475% 11/25/2024$451,009
ANTERO RESOURCES CORP 5.625% 06/01/2023$451,000
ENDO FINANCE LLC 5.75% 01/15/2022$447,975
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.125% 02/01/2025$445,000
PULTEGROUP INC 5.5% 03/01/2026$444,125
PRECISION DRILLING CORP 6.5% 12/15/2021$437,063
LIFEPOINT HEALTH INC 5.5% 12/01/2021$435,488
VIRGIN MEDIA FINANCE PLC 4.875% 02/15/2022$435,190
NRG ENERGY INC 7.25% 05/15/2026$435,120
COTT CORP CALLABLE MEDIUM TERM NOTE FIXED 5.5% 07/01/2024 EUR 1000$430,284
COTT CORP 5.5% 07/01/2024$430,284
AXALTA COATING SYSTEMS LLC 4.875% 08/15/2024$427,350
VIACOM INC 4.375% 03/15/2043$424,793
DONNELLEY FINANCIAL SOLUTIONS INC 8.25% 10/15/2024$424,350
OASIS PETROLEUM INC 6.875% 03/15/2022$422,875
FIRST DATA CORP 5.75% 01/15/2024$422,781
DYNEGY INC 6.75% 11/01/2019$422,092
CALIFORNIA RESOURCES TL1 11.375% 12/12/2016$420,469
BWAY HOLDING CO 9.125% 08/15/2021$420,000
FMG RESOURCES AUGUST 2006 PTY LTD 9.75% 03/01/2022$419,400
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 6.375% 06/15/2023$417,850
MOHEGAN TRIBAL GAMING AUTHORITY 7.875% 10/15/2024$417,175
DH SERVICES LUXEMBOURG SARL 7.75% 12/15/2020$417,000
IMMUCOR INC 11.125% 08/15/2019$415,800
HSBC HOLDINGS PLC 6.375% 09/17/2024$409,594
CREDIT AGRICOLE SA 8.125% 12/23/2025$409,230
ROYAL BANK OF SCOTLAND GROUP PLC 8.625% 08/15/2021$408,975
CGG SA 6.5% 06/01/2021$408,000
HERCULES OFFSH TL IL EXIT (FOR 10.5% 11/30/2016$406,280
SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025$405,900
SPEEDWAY MOTORSPORTS INC 5.125% 02/01/2023$404,908
RICE ENERGY INC 7.25% 05/01/2023$404,700
CHENIERE CORPUS CHRISTI HOLDINGS LLC 7% 06/30/2024$404,700
AMERICAN AXLE & MANUFACTURING INC 6.625% 10/15/2022$402,800
DISH NETWORK CORP 3.375% 08/15/2026$402,719
COEUR MINING INC 7.875% 02/01/2021$401,700
CIT GROUP INC 5.5% 02/15/2019$400,900
PANDA TEMPLE POWER TERM LOAN 03/15 7.25% 12/30/2016$398,925
CROWNROCK LP / CROWNROCK FINANCE INC 7.75% 02/15/2023$396,825
FREEPORT-MCMORAN INC 3.55% 03/01/2022$396,675
MASTR ASSET BACKED SECURITIES TRUST 2006-FRE1 0.824% 12/25/2035$396,477
NGL ENERGY PARTNERS LP / NGL ENERGY FINANCE CORP 7.5% 11/01/2023$392,925
HSBC HOLDINGS PLC 6.375% 03/30/2025$392,438
UNITYMEDIA GMBH 3.75% 01/15/2027$392,391
GAMESTOP CORP 6.75% 03/15/2021$392,350
GENERAL MOTORS CO 5.2% 04/01/2045$388,887
KINETIC CONCEPTS INC / KCI USA INC 7.875% 02/15/2021$388,800
WALTER INVESTMENT MANAGEMENT CORP 7.875% 12/15/2021$387,500
SLM STUDENT LOAN TRUST 2008-5 2.582% 07/25/2023$386,720
AUSDRILL FINANCE PTY LTD 6.875% 11/01/2019$386,650
BHP BILLITON FINANCE USA LTD 6.75% 10/19/2075$385,900
SIG COMBIBLOC HOLDINGS SCA 7.75% 02/15/2023$384,219
GEO GROUP INC/THE 5.875% 10/15/2024$383,900
TECK RESOURCES LTD 8% 06/01/2021$383,250
TREEHOUSE FOODS INC 6% 02/15/2024$383,045
TENNECO INC 5.375% 12/15/2024$382,794
OI BRASIL HOLDINGS COOPERATIEF UA 5.75% 02/10/2022$381,500
CENGAGE LEARNING INC 9.5% 06/15/2024$379,000
CSC HOLDINGS LLC 5.5% 04/15/2027$376,244
ADIENT GLOBAL HOLDINGS LTD 4.875% 08/15/2026$374,718
ADVANCED MICRO DEVICES INC 2.125% 09/01/2026$372,694
IHO VERWALTUNGS GMBH 4.125% 09/15/2021$369,450
WINDSTREAM SERVICES LLC 7.75% 10/15/2020$368,100
ENDEAVOR ENERGY RESOURCES LP / EER FINANCE INC 7% 08/15/2021$368,100
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 7.5% 07/01/2021$365,750
COVERIS HOLDINGS SA 7.875% 11/01/2019$363,125
BOPARAN FINANCE PLC 5.5% 07/15/2021$359,366
WESCO DISTRIBUTION INC 5.375% 12/15/2021$359,188
GREATBATCH LTD 9.125% 11/01/2023$356,125
MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP / MGP FINANCE CO-ISSUER INC 4.5% 09/01/2026$355,500
NOVELIS CORP 6.25% 08/15/2024$354,450
TIME WARNER CABLE INC 7.3% 07/01/2038$354,349
TEMPUR SEALY INTERNATIONAL INC 5.625% 10/15/2023$353,600
EAGLE MATERIALS INC 4.5% 08/01/2026$353,361
CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 6.484% 10/23/2045$352,793
BAYTEX ENERGY CORP 5.125% 06/01/2021$351,713
VALEANT PHARMACEUTICALS INTERNATIONAL INC 7.5% 07/15/2021$348,563
NRG REMA LLC 9.681% 07/02/2026$345,625
SOUTHWESTERN ENERGY CO 6.7% 01/23/2025$344,700
CARRIZO OIL & GAS INC 7.5% 09/15/2020$343,613
L BRANDS INC 6.95% 03/01/2033$342,375
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 5.5% 08/15/2022$341,250
GENWORTH HOLDINGS INC 7.7% 06/15/2020$340,375
GAMESTOP CORP 5.5% 10/01/2019$340,313
T-MOBILE USA INC 6% 03/01/2023$337,600
SS&C TECHNOLOGIES HOLDINGS INC 5.875% 07/15/2023$336,800
ALCOA INC 5.95% 02/01/2037$335,645
PSPC ESCROW CORP 6% 02/01/2023$335,480
PSPC ESCROW CORP 6% 02/01/2023$335,480
CONTINENTAL RESOURCES INC/OK 4.9% 06/01/2044$333,938
GENESIS ENERGY LP / GENESIS ENERGY FINANCE CORP 6% 05/15/2023$332,475
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 5.45% 06/15/2023$332,419
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.625% 04/15/2023$332,161
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 9.375% 05/01/2020$331,800
ADT CORP/THE 6.25% 10/15/2021$329,625
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.25% 05/01/2023$329,208
KRAFT HEINZ FOODS CO 7.125% 08/01/2039$329,096
WHITING PETROLEUM CORP 5.75% 03/15/2021$326,375
HCA INC 5.25% 04/15/2025$325,500
DOWNSTREAM DEVELOPMENT AUTHORITY OF THE QUAPAW TRIBE OF OKLAHOMA 10.5% 07/01/2019$324,800
IHEARTCOMMUNICATIONS INC 14% 02/01/2021$322,512
CONCHO RESOURCES INC 6.5% 01/15/2022$321,625
LANTHEUS MEDICAL IMAGING TL B 7% 12/30/2016$321,463
CTP TRANSPORTATION PRODUCTS LLC / CTP FINANCE INC 8.25% 12/15/2019$321,300
NEW COTAI LLC / NEW COTAI CAPITAL CORP 10.625% 05/01/2019$319,295
VIRGIN MEDIA FINANCE PLC 6% 10/15/2024$315,813
AMERIGAS PARTNERS LP / AMERIGAS FINANCE CORP 5.625% 05/20/2024$315,000
RANGE RESOURCES CORP 4.875% 05/15/2025$312,166
INTERFACE SECURITY SYSTEMS HOLDINGS INC / INTERFACE SECURITY SYSTEMS LLC 9.25% 01/15/2018$311,163
IHO VERWALTUNGS GMBH 4.75% 09/15/2026$310,000
FREEPORT-MCMORAN INC 3.1% 03/15/2020$309,600
XPO LOGISTICS INC 6.125% 09/01/2023$309,375
COOPERATIEVE RABOBANK UA 5.25% 08/04/2045$305,456
NCL CORP LTD 4.625% 11/15/2020$305,250
INTERNATIONAL WIRE GROUP INC 10.75% 08/01/2021$303,200
FRONTIER COMMUNICATIONS CORP 10.5% 09/15/2022$302,688
CHESAPEAKE ENERGY CORP 5.5% 09/15/2026$302,000
TRONOX FINANCE LLC 7.5% 03/15/2022$301,500
STEEL DYNAMICS INC 5.5% 10/01/2024$301,388
CHESAPEAKE ENERGY TL L+750 8/1 8.5% 11/23/2016$300,418
SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023$296,250
AMAG PHARMACEUTICALS INC 7.875% 09/01/2023$292,175
CENTRAL GARDEN & PET CO 6.125% 11/15/2023$289,575
ARCELORMITTAL 6.125% 06/01/2025$286,000
QEP RESOURCES INC 6.875% 03/01/2021$285,525
US AIRWAYS 2012-2 CLASS B PASS THROUGH TRUST 6.75% 12/03/2022$285,430
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 7.125% 06/15/2024$285,046
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 7.625% 04/22/2046$284,570
LEVEL 3 FINANCING INC 5.375% 08/15/2022$283,250
GOODYEAR TIRE & RUBBER CO/THE 5% 05/31/2026$283,150
KRAFT HEINZ FOODS CO 4.875% 02/15/2025$282,583
SOUTHWESTERN ENERGY CO 4.1% 03/15/2022$279,000
BNP PARIBAS SA 7.375% 08/19/2025$277,425
GREEKTOWN HOLDINGS LLC/GREEKTOWN MOTHERSHIP CORP 8.875% 03/15/2019$276,250
RICE ENERGY INC 6.25% 05/01/2022$276,075
US CONCRETE INC 6.375% 06/01/2024$271,050
MATCH GROUP INC 6.375% 06/01/2024$270,938
GUITAR CENTER INC 6.5% 04/15/2019$270,750
ROCKIES EXPRESS PIPELINE LLC 7.5% 07/15/2038$270,000
BARCLAYS BANK PLC 7.625% 11/21/2022$268,350
MONITRONICS INTERNATIONAL INC 9.125% 04/01/2020$266,700
BARCLAYS PLC 8.25% 12/17/2018$263,998
CONSTELLATION BRANDS INC 4.75% 12/01/2025$263,700
CORRECTIONS CORP OF AMERICA 5% 10/15/2022$263,175
FLORIDA EAST COAST HOLDINGS CORP 6.75% 05/01/2019$262,600
FRESENIUS MEDICAL CARE US FINANCE II INC 4.75% 10/15/2024$261,875
TRIBUNE MEDIA CO 5.875% 07/15/2022$261,300
MICHAEL BAKER INTERNATIONAL LLC / CDL ACQUISITION CO INC 8.25% 10/15/2018$261,300
IHO VERWALTUNGS GMBH 4.5% 09/15/2023$258,825
JBS USA LUX SA / JBS USA FINANCE INC 7.25% 06/01/2021$257,500
HARDWOODS ACQUISITION INC 7.5% 08/01/2021$255,500
LAMAR MEDIA CORP 5% 05/01/2023$252,600
NAVIENT CORP 6.625% 07/26/2021$252,500
BARMINCO FINANCE PTY LTD 9% 06/01/2018$250,819
MODULAR SPACE CORP 10.25% 01/31/2019$250,560
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.875% 04/01/2024$249,100
SM ENERGY CO 5.625% 06/01/2025$248,950
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 6.75% 05/15/2024$246,376
TENET HEALTHCARE CORP 4.375% 10/01/2021$245,000
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 7.25% 05/15/2024$243,800
SABINE PASS LIQUEFACTION LLC 5.875% 06/30/2026$243,326
ALLY FINANCIAL INC 4.625% 05/19/2022$240,875
ALLY FINANCIAL INC 8% 11/01/2031$240,000
CNO FINANCIAL GROUP INC 4.5% 05/30/2020$237,188
JACK COOPER HOLDINGS CORP 9.25% 06/01/2020$236,250
PETROBRAS GLOBAL FINANCE BV 6.85% 06/05/2115$230,850
ALLIANCE ONE INTERNATIONAL INC 8.5% 04/15/2021$230,575
CSC HOLDINGS LLC 10.875% 10/15/2025$230,500
SBA COMMUNICATIONS CORP 4.875% 09/01/2024$225,563
FREEPORT-MCMORAN INC 5.45% 03/15/2043$225,450
CARMIKE CINEMAS INC 6% 06/15/2023$225,225
RANGE RESOURCES CORP 5% 03/15/2023$223,675
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 8.25% 10/15/2023$222,600
LAREDO PETROLEUM INC 7.375% 05/01/2022$217,350
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 6.875% 04/22/2021$216,900
CROWN AMERICAS LLC / CROWN AMERICAS CAPITAL CORP V 4.25% 09/30/2026$216,150
WILLIAMS COS INC/THE 3.7% 01/15/2023$213,950
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 4.875% 04/15/2020$211,838
BOPARAN FINANCE PLC 4.375% 07/15/2021$209,286
ALTICE FINANCING SA 7.5% 05/15/2026$206,500
RANGE RESOURCES CORP 5% 08/15/2022$205,800
SPRINT COMMUNICATIONS INC 6% 11/15/2022$205,564
ALTICE LUXEMBOURG SA 6.25% 02/15/2025$204,561
VIRGIN MEDIA SECURED FINANCE PLC 5.5% 08/15/2026$202,250
NAVIENT CORP 5.875% 03/25/2021$201,000
SFR GROUP SA 6.25% 05/15/2024$200,624
PACIFIC DRILLING V LTD 7.25% 12/01/2017$200,000
CARE CAPITAL PROPERTIES LP 5.125% 08/15/2026$198,701
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.375% 05/01/2025$195,700
NEOVIA LOGISTICS INTERMEDIATE HOLDINGS LLC / LOGISTICS INTERMEDIATE FINANCE CORP 10% 02/15/2018$195,207
NAVIENT CORP 5.5% 01/15/2019$194,275
HCA INC 7.5% 02/15/2022$193,885
GLOBE LUXEMBOURG SCA 9.625% 05/01/2018$192,500
ANTERO MIDSTREAM PARTNERS LP / ANTERO MIDSTREAM FINANCE CORP 5.375% 09/15/2024$191,900
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.375% 02/01/2027$190,475
NEUBERGER BERMAN GROUP LLC / NEUBERGER BERMAN FINANCE CORP 5.875% 03/15/2022$187,650
DENBURY RESOURCES INC 9% 05/15/2021$186,300
PANDA TEMPLE POWER II ADVANCE 7.25% 12/30/2016$185,565
ALTICE FINANCING SA 5.25% 02/15/2023$184,093
NWH ESCROW CORP 7.5% 08/01/2021$182,500
FREEPORT-MCMORAN INC 3.875% 03/15/2023$181,500
STANDARD INDUSTRIES INC/NJ 5.125% 02/15/2021$179,350
HUGHES SATELLITE SYSTEMS CORP 5.25% 08/01/2026$177,750
CHESAPEAKE ENERGY CORP 5.75% 03/15/2023$174,000
AMERICAN AIRLINES 2013-1 CLASS B PASS THROUGH TRUST 5.625% 01/15/2021$173,816
GENWORTH HOLDINGS INC 4.9% 08/15/2023$173,250
SPRINT CAPITAL CORP 8.75% 03/15/2032$172,975
LG FINANCECO CORP 5.875% 11/01/2024$172,444
POST HOLDINGS INC 7.75% 03/15/2024$172,081
CEC ENTERTAINMENT INC 8% 02/15/2022$171,700
PARSLEY ENERGY LLC / PARSLEY FINANCE CORP 7.5% 02/15/2022$170,800
HOMEVI SAS 6.875% 08/15/2021$170,224
LIFEPOINT HEALTH INC 5.875% 12/01/2023$167,888
VEREIT OPERATING PARTNERSHIP LP 4.6% 02/06/2024$166,400
VALEANT PHARMACEUTICALS INTERNATIONAL INC 5.5% 03/01/2023$165,900
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-SG1 4.471% 12/15/2047$162,805
HCA INC 5.25% 06/15/2026$162,363
COMM 2015-LC21 MORTGAGE TRUST 3.25% 07/10/2048$161,925
AERCAP IRELAND CAPITAL LTD / AERCAP GLOBAL AVIATION TRUST 5% 10/01/2021$159,750
TAYLOR MORRISON COMMUNITIES INC / MONARCH COMMUNITIES INC 5.875% 04/15/2023$159,000
HUGHES SATELLITE SYSTEMS CORP 6.625% 08/01/2026$158,800
DISH DBS CORP 5% 03/15/2023$158,000
HOLLY ENERGY PARTNERS LP / HOLLY ENERGY FINANCE CORP 6% 08/01/2024$156,750
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 3% 05/15/2048$156,597
VALEANT PHARMACEUTICALS INTERNATIONAL 6.375% 10/15/2020$156,150
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.118% 08/15/2048$155,826
FRONTIER COMMUNICATIONS CORP 6.875% 01/15/2025$155,631
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.75% 02/01/2022$154,125
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 5.25% 08/01/2026$153,375
HANESBRANDS INC 4.625% 05/15/2024$153,281
MATTERHORN TELECOM SA 3.625% 05/01/2022$151,751
DIAMONDBACK ENERGY INC 4.75% 11/01/2024$150,188
GRAY TELEVISION INC 5.875% 07/15/2026$149,625
RENT-A-CENTER INC/TX 4.75% 05/01/2021$146,700
WESTLAKE CHEMICAL CORP 4.625% 02/15/2021$146,649
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 6% 04/15/2023$145,600
CONCHO RESOURCES INC 5.5% 04/01/2023$143,920
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.125% 06/15/2019$143,500
NGPL PIPECO LLC 7.768% 12/15/2037$143,000
SM ENERGY CO 6.125% 11/15/2022$136,350
COMPILER FINANCE SUB INC 7% 05/01/2021$136,300
UNITED RENTALS NORTH AMERICA INC 5.875% 09/15/2026$133,068
HANESBRANDS INC 4.875% 05/15/2026$132,925
SABINE PASS LIQUEFACTION LLC 5.625% 03/01/2025$132,738
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.618% 08/15/2048$132,260
MEG ENERGY CORP 7% 03/31/2024$132,000
GENERAL MOTORS CO 6.6% 04/01/2036$130,398
MEG ENERGY CORP 6.5% 03/15/2021$130,125
ENDO FINANCE LLC / ENDO FINCO INC 5.875% 01/15/2023$123,975
NCR CORP 6.375% 12/15/2023$122,188
WPX ENERGY INC 6% 01/15/2022$120,300
CARRIZO OIL & GAS INC 6.25% 04/15/2023$118,738
EV ENERGY PARTNERS LP / EV ENERGY FINANCE CORP 8% 04/15/2019$118,150
ANGLO AMERICAN CAPITAL PLC 3.25% 04/03/2023$114,160
SM ENERGY CO 6.75% 09/15/2026$112,956
ANGLO AMERICAN CAPITAL PLC 1.5% 04/01/2020$110,335
VALEANT PHARMACEUTICALS INTERNATIONAL 7% 10/01/2020$108,000
SPRINT COMMUNICATIONS INC 11.5% 11/15/2021$105,750
LEVEL 3 FINANCING INC 5.625% 02/01/2023$103,000
WHITING PETROLEUM CORP 6.25% 04/01/2023$102,025
CGG SA 6.875% 01/15/2022$101,000
BERRY PETROLEUM CO LLC 6.75% 11/01/2020$99,900
GARDA WORLD SECURITY CORP 7.25% 11/15/2021$96,000
CASCADES INC 5.75% 07/15/2023$91,350
MEG ENERGY CORP 6.375% 01/30/2023$91,300
USG CORP 5.5% 03/01/2025$90,844
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.625% 10/15/2023$89,775
MGM RESORTS INTERNATIONAL 6.625% 12/15/2021$89,550
ADT CORP/THE 4.125% 06/15/2023$88,453
MALLINCKRODT INTERNATIONAL FINANCE SA 4.75% 04/15/2023$87,625
NGPL PIPECO LLC 9.625% 06/01/2019$84,400
SM ENERGY CO 5% 01/15/2024$84,150
ENSCO PLC 4.7% 03/15/2021$83,340
LAREDO PETROLEUM INC 6.25% 03/15/2023$80,800
ENSCO PLC 5.75% 10/01/2044$80,700
CONTINENTAL RESOURCES INC/OK 4.5% 04/15/2023$76,600
ADT CORP/THE 3.5% 07/15/2022$76,200
COMMSCOPE INC 4.375% 06/15/2020$72,013
MALLINCKRODT INTERNATIONAL FINANCE SA 3.5% 04/15/2018$69,825
CIT GROUP INC 5.375% 05/15/2020$64,275
ALCOA INC 5.125% 10/01/2024$62,851
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 6.125% 10/15/2021$62,813
EP ENERGY LLC / EVEREST ACQUISITION FINANCE INC 7.75% 09/01/2022$61,650
GENERAL MOTORS CO 6.75% 04/01/2046$61,580
AES CORP/VA 5.5% 03/15/2024$61,200
UNITED RENTALS NORTH AMERICA INC 5.5% 07/15/2025$60,975
VIKING CRUISES LTD 8.5% 10/15/2022$60,750
ACADIA HEALTHCARE CO INC 5.625% 02/15/2023$60,375
TENET HEALTHCARE CORP 4.5% 04/01/2021$60,300
CORRECTIONS CORP OF AMERICA 4.125% 04/01/2020$56,400
VALEANT PHARMACEUTICALS INTERNATIONAL 7.25% 07/15/2022$52,500
LEVEL 3 FINANCING INC 5.375% 01/15/2024$51,125
MICRON TECHNOLOGY INC 5.25% 08/01/2023$49,250
NEWFIELD EXPLORATION CO 5.625% 07/01/2024$41,800
INTERNATIONAL LEASE FINANCE CORP 8.625% 01/15/2022$36,863
DISH DBS CORP 6.75% 06/01/2021$32,306
OPEN TEXT CORP 5.875% 06/01/2026$32,025
WESTLAKE CHEMICAL CORP 4.875% 05/15/2023$20,850
GEO GROUP INC/THE 5.125% 04/01/2023$17,525
CHESAPEAKE ENERGY CORP 5.375% 06/15/2021$8,750
SEVENTY SEVEN ENERGY INC/OLD 0% 07/15/2022$0
MAGNUM HUNTER RESOURCES CORP 9.75% 05/15/2020$0
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$10,070,228
 
Other
Holding NameMarket Value
CURRENCY CONTRACT$277,356
USD$141,946
CURRENCY CONTRACT$36,092
BRITISH POUND$19,565
CURRENCY CONTRACT$12,908
US 2YR NOTE (CBT) BOND DEC16 (TUZ6) COMDTY$5,990
CURRENCY CONTRACT$2,643
CURRENCY CONTRACT$1,341
SEVENTY SEVEN ENERGY INC$287
US 5YR NOTE (CBT) BOND DEC16 (FVZ6) COMDTY$-6,621
USD$-87,488
EURO$-464,278
 

Statistics

Duration and Maturity As of Aug 31, 2016
StatisticValue
Average Effective Duration4.04 years
Average Effective Maturity5.17 years
Portfolio Statistics As of Sep 30, 2016
Statistic3-Year5-Year
BetaN/AN/A
AlphaN/AN/A
Standard DeviationN/AN/A
 
 

Footnotes

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.