Fund Facts  

Inception Date: May 1, 2014
Ticker Symbol: VQHYX
Registration Date: May 1, 2014
Morningstar Category:High Yield Bond
As of Mar 31, 2016
Fund Net Assets ($millions) $361

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 Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vantagepoint High Yield T   2.59%2.59%-4.84%N/AN/AN/A-2.72%
Barclays U.S. Corporate High Yield 2% Issuer Capped Bond Indexa,b3.35%3.35%-3.66%1.86%4.93%7.03%N/A
Morningstar High Yield Bonda,c2.13%2.13%-4.17%1.06%3.84%5.55%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. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. 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. ICMA-RC does not independently verify Morningstar data.

b. The Barclays U.S. Corporate High Yield 2% Issuer Capped Bond Index is an issuer-constrained version of the Barclays U.S. Corporate High Yield Index that measures the market of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds. The 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
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
Mar 31, 2015Mar 31, 2015$0.045492000
Feb 27, 2015Feb 27, 2015$0.036501000
Jan 30, 2015Jan 30, 2015$0.037697000
Dec 31, 2014Dec 31, 2014$0.052696000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 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 Mar 31, 2016
Fixed Income Stylebox
Low Moderate
Allocation of Assets As of Feb 29, 2016
Type of Asset Percent
Equity0%
Fixed Income104%
Cash/Other-4%

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

 
 

Characteristics

Allocation of Assets As of Feb 29, 2016
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond82.3%
Foreign Bond21.0%
Preferred0.3%
Convertible0.2%
Cash-3.9%
Other0.0%

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

 
Fixed Income Sector As of Feb 29, 2016
SectorPercent
Corporate87.9%
Government10.2%
Securitized4.2%
Derivative0.1%
Cash & Equivalents-4.0%

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

 
Credit Quality As of Feb 29, 2016
Quality LevelPercent
AAA4.0%
AA0.0%
A0.2%
BBB3.1%
BB28.8%
B44.6%
Below B16.5%
Not Rated3.0%

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

 
Top Ten Holdings As of May 31, 2016
Holding NamePercent
US 2YR NOTE (CBT) BOND SEP16 (TUU6) COMDTY6.6%
FIDELITY INSTITUTIONAL MONEY MARKET3.1%
US 5YR NOTE (CBT) BOND SEP16 (FVU6) COMDTY2.0%
SPRINT CORP 7.25% 09/15/20211.3%
NAVIENT CORP 4.875% 06/17/20190.7%
DISH DBS CORP 5.875% 07/15/20220.7%
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 4.949% 10/25/20240.7%
HCA INC 5.375% 02/01/20250.7%
FIRST DATA CORP 7% 12/01/20230.7%
CIT GROUP INC 5% 08/15/20220.6%
All Holdings As of May 31, 2016
Equity
Holding NameMarket Value
GMAC CAPITAL TRUST I$1,123,894
MAGNUM HUNTER RESOURCES CORP$848,291
ALLERGAN PLC$425,709
HERCULES OFFSHORE INC$14,069
 
Fixed Income
Holding NameMarket Value
SPRINT CORP 7.25% 09/15/2021$4,519,175
NAVIENT CORP 4.875% 06/17/2019$2,592,100
DISH DBS CORP 5.875% 07/15/2022$2,546,250
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 4.949% 10/25/2024$2,539,032
HCA INC 5.375% 02/01/2025$2,525,381
FIRST DATA CORP 7% 12/01/2023$2,360,600
CIT GROUP INC 5% 08/15/2022$2,088,419
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.5% 05/15/2021$2,065,000
CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022$1,836,829
MIRAN MID-ATLANTIC SERIES C PASS THROUGH 10.06% 12/30/2028$1,834,109
FLEXI-VAN LEASING INC 7.875% 08/15/2018$1,802,550
NEUBERGER BERMAN GROUP LLC / NEUBERGER B 5.875% 03/15/2022$1,772,250
UNITED RENTALS NORTH AMERICA INC 6.125% 06/15/2023$1,753,375
NOVELIS INC 8.75% 12/15/2020$1,735,763
NRG ENERGY INC 6.25% 07/15/2022$1,727,579
PRESTIGE BRANDS INC 5.375% 12/15/2021$1,683,963
INTELSAT JACKSON HOLDINGS SA 8 02/15/2024$1,668,713
WMG ACQUISITION CORP 5.625% 04/15/2022$1,653,356
SPRINT CAPITAL CORP 6.9% 05/01/2019$1,640,625
DOLLAR TREE INC 5.75% 03/01/2023$1,629,019
NUMERICABLE-SFR SA 7.375 05/01/2026$1,626,100
INTELSAT JACKSON HOLDINGS SA 7.5% 04/01/2021$1,599,475
T-MOBILE USA INC 6.633% 04/28/2021$1,582,500
BUILDING MATERIALS CORP OF AMERICA 6% 10/15/2025$1,574,563
MORGAN STANLEY RESECURITIZATION TRUST 2015-R6 0.448% 07/26/2045$1,542,440
ASHTEAD CAPITAL INC 6.5% 07/15/2022$1,538,755
IRON MOUNTAIN EUROPE PLC 6.125% 09/15/2022$1,525,203
TENET HEALTHCARE CORP 6.75% 06/15/2023$1,443,938
CLEAN HARBORS INC 5.25% 08/01/2020$1,443,488
SUMMIT MATERIALS LLC / SUMMIT MATERIALS FINANCE CORP 6.125% 07/15/2023$1,439,250
CONVATEC FINANCE INTERNATIONAL SA 8.25% 01/15/2019$1,421,775
NOMURA RESECURITIZATION TRUST 2015-6R .389% 05/26/2046$1,410,879
SUBURBAN PROPANE PARTNERS LP/SUBURBAN EN 5.5% 06/01/2024$1,361,250
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 7% 05/20/2022$1,334,025
ACADIA HEALTHCARE CO INC 5.125% 07/01/2022$1,333,200
PACTIV LLC 8.375% 04/15/2027$1,332,500
CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 4.908 07/23/2025$1,318,016
ENDO FINANCE LLC 5.75% 01/15/2022$1,304,113
1011778 BC ULC / NEW RED FINANCE INC 4.625% 01/15/2022$1,296,068
CHESAPEAKE ENERGY CORP 3.5388% 04/15/2019$1,293,906
CASCADES INC 5.5% 07/15/2022$1,283,800
OASIS PETROLEUM INC 6.875% 01/15/2023$1,265,963
UNITED AIRLINES 2013-1 CLASS B PASS THRO 5.375% 02/15/2023$1,232,219
NEIMAN MARCUS GROUP LTD LLC 9.5% 10/15/2021$1,231,050
FIRST DATA CORP 5% 01/15/2024$1,228,822
VALEANT PHARMACEUTICALS INTERNATIONAL 6.75% 08/15/2021$1,225,725
CHURCHILL DOWNS INC 5.375% 12/15/2021$1,210,950
DJO FINCO INC / DJO FINANCE LLC / DJO FI 8.125% 06/15/2021$1,209,350
BALL CORP 4.375% 12/15/2023$1,206,363
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.625% 07/01/2022$1,193,350
R&R PIK PLC 9.25% 05/15/2018$1,192,111
ALTICE FINANCING SA 6.625% 02/15/2023$1,184,425
MALLINCKRODT INTERNATIONAL FINANCE SA / 5.75% 08/01/2022$1,168,500
NIELSEN FINANCE LLC / NIELSEN FINANCE CO 5% 04/15/2022$1,164,794
ENVISION HEALTHCARE CORP 5.125% 07/01/2022$1,158,625
FIRST QUALITY FINANCE CO INC 4.625% 05/15/2021$1,143,000
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.875% 05/15/2023$1,135,650
CONSTELLATION BRANDS INC 6% 05/01/2022$1,133,750
MILACRON LLC / MCRON FINANCE CORP 7.75% 02/15/2021$1,130,588
GEO GROUP INC/THE 6 04/15/2026$1,118,813
PILGRIM'S PRIDE CORP 5.75% 03/15/2025$1,114,443
PINNACLE FOODS FINANCE LLC / PINNACLE FO 4.875% 05/01/2021$1,112,125
JBS USA LLC / JBS USA FINANCE INC 7.25% 06/01/2021$1,097,100
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 6.75% 03/15/2024$1,096,713
KCA DEUTAG UK FINANCE PLC 7.25% 05/15/2021$1,095,000
NUMERICABLE-SFR SAS 5.625% 05/15/2024$1,088,380
INGLES MARKETS INC 5.75% 06/15/2023$1,081,200
HCA HOLDINGS INC 6.25% 02/15/2021$1,075,000
UNIVERSAL HOSPITAL SERVICES INC 7.625% 08/15/2020$1,060,788
APEX TOOL GROUP LLC 7% 02/01/2021$1,060,575
COVANTA HOLDING CORP 6.375% 10/01/2022$1,058,250
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.344% 03/25/2037$1,054,213
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.625% 12/01/2021$1,049,750
H&E EQUIPMENT SERVICES INC 7% 09/01/2022$1,045,350
REPERFORMING LOAN REMIC TRUST 2005-R2 8% 06/25/2035$1,044,523
CAPSUGEL SA 7% 05/15/2019$1,034,866
VIASAT INC 6.875% 06/15/2020$1,032,500
LEVEL 3 FINANCING INC 5.625% 02/01/2023$1,025,000
HANESBRANDS FINANCE LUXEMBOURG SCA 3.5 06/15/2024$1,021,513
ESH HOSPITALITY INC 5.25% 05/01/2025$1,018,875
RITE AID CORP 6.125% 04/01/2023$1,018,800
OPEN TEXT CORP 5.625% 01/15/2023$1,012,500
WEST CORP 5.375% 07/15/2022$1,008,713
NCR CORP 5.875% 12/15/2021$1,008,563
MGP ESCROW ISSUER LLC / MGP ESCROW CO-ISSUER INC 5.625 05/01/2024$1,005,138
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 3.286% 12/15/2019$1,005,000
TENET HEALTHCARE CORP 8.125% 04/01/2022$991,025
COGENT COMMUNICATIONS GROUP INC 5.375% 03/01/2022$989,800
CITIGROUP INC 5.95% 05/15/2025$988,750
BLUELINE RENTAL FINANCE CORP 7% 02/01/2019$986,000
WORLDPAY FINANCE PLC 3.75% 11/15/2022$963,903
ARDAGH FINANCE HOLDINGS SA 8.625 06/15/2019$962,550
QUICKEN LOANS INC 5.75% 05/01/2025$962,025
SBA COMMUNICATIONS CORP 4.875% 07/15/2022$960,969
SIMMONS FOODS INC 7.875% 10/01/2021$958,125
HD SUPPLY INC 5.75 04/15/2024$953,888
CEDAR FAIR LP / CANADA'S WONDERLAND CO / 5.375% 06/01/2024$950,950
HUNTINGTON INGALLS INDUSTRIES INC 5% 12/15/2021$950,625
SINCLAIR TELEVISION GROUP INC 5.375% 04/01/2021$950,456
DARLING GLOBAL FINANCE BV 4.75% 05/30/2022$949,321
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$948,813
SABINE PASS LIQUEFACTION LLC 5.625% 04/15/2023$943,950
TERRAFORM POWER OPERATING LLC 5.875% 02/01/2023$934,500
NRG YIELD OPERATING LLC 5.375% 08/15/2024$933,638
HUB INTERNATIONAL LTD 7.875% 10/01/2021$933,375
CITGO PETROLEUM CORP 6.25% 08/15/2022$931,200
HCA INC 5.875% 02/15/2026$923,375
AMSURG CORP 5.625% 07/15/2022$921,969
OASIS PETROLEUM INC 6.875% 03/15/2022$920,375
AURIS LUXEMBOURG II SA 8% 01/15/2023$917,936
DBP HOLDING CORP 7.75% 10/15/2020$911,625
ALLY FINANCIAL INC 7.5% 09/15/2020$908,863
SPRINT COMMUNICATIONS INC 8.375% 08/15/2017$902,344
WATCO COS LLC / WATCO FINANCE CORP 6.375% 04/01/2023$900,000
CARLSON TRAVEL HOLDINGS INC 7.5% 08/15/2019$894,700
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.75% 12/15/2023$891,338
DH SERVICES LUXEMBOURG SARL 7.75% 12/15/2020$891,000
VIRGIN MEDIA FINANCE PLC 7% 04/15/2023$889,649
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 6.75 05/15/2024$884,139
ZF NORTH AMERICA CAPITAL INC 4.5% 04/29/2022$883,094
JAGUAR HOLDING CO II / PHARMACEUTICAL PR 6.375% 08/01/2023$880,210
MEDIACOM BROADBAND LLC / MEDIACOM BROADB 5.5% 04/15/2021$878,688
TEMPUR SEALY INTERNATIONAL INC 5.5 06/15/2026$876,525
HOMEVI SAS 6.875% 08/15/2021$874,403
TELECOM ITALIA SPA 5.303% 05/30/2024$869,142
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.875 02/15/2023$860,200
AMERICAN AIRLINES 2013-2 CLASS B PASS TH 5.6% 01/15/2022$858,974
CTR PARTNERSHIP LP / CARETRUST CAPITAL C 5.875% 06/01/2021$854,700
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 6.375% 03/01/2024$854,625
CHEMOURS CO/THE 6.125% 05/15/2023 6.125 05/15/2023$850,871
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 7.25 05/15/2024$850,750
WOODSIDE HOMES CO LLC / WOODSIDE HOMES F 6.75% 12/15/2021$841,500
ARDAGH PACKAGING FINANCE PLC 9.125% 10/15/2020$839,400
CENTENE ESCROW CORP 5.625% 02/15/2021$839,213
VWR FUNDING INC 4.625% 04/15/2022$836,012
DENALI BORROWER LLC / DENALI FINANCE COR 5.625% 10/15/2020$832,660
NAVIOS MARITIME ACQUISITION CORP / NAVIO 8.125% 11/15/2021$823,200
WINDSTREAM SERVICES LLC 7.5% 04/01/2023$817,500
PLASTIPAK HOLDINGS INC 6.5% 10/01/2021$809,531
NEW COTAI LLC / NEW COTAI CAPITAL CORP 10.625% 05/01/2019$809,060
FIRST QUANTUM MINERALS LTD 7.25% 05/15/2022$804,650
CAESARS ENTERTAINMENT RESORT PROPERTIES 8% 10/01/2020$799,875
IRON MOUNTAIN INC 6% 10/01/2020$793,125
INTREPID AVIATION GROUP HOLDINGS LLC / I 6.875% 02/15/2019$789,838
NATURAL RESOURCE PARTNERS LP / NRP FINAN 9.125% 10/01/2018$787,750
ALTICE LUXEMBOURG SA 7.25% 05/15/2022$783,966
AMERICAN BUILDERS & CONTRACTORS SUPPLY C 5.625% 04/15/2021$781,875
CENTURYLINK INC 5.625% 04/01/2020$781,850
RENT-A-CENTER INC/TX 6.625% 11/15/2020$781,625
SPECTRUM BRANDS INC 6.625% 11/15/2022$781,560
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 4.25% 01/15/2022$779,314
GUITAR CENTER INC 9.625% 04/15/2020$773,800
FRESENIUS MEDICAL CARE US FINANCE II INC 5.875% 01/31/2022$773,500
SANCHEZ ENERGY CORP 7.75% 06/15/2021$770,000
CENTURYLINK INC 5.625% 04/01/2025$764,325
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 5% 10/01/2021$761,250
TELENET FINANCE V LUXEMBOURG SCA 6.25% 08/15/2022$760,657
PORTAVENTURA ENTERTAINMENT BARCELONA BV 7.25% 12/01/2020$760,023
BRUNSWICK CORP/DE 4.625% 05/15/2021$755,625
ARQIVA BROADCAST FINANCE PLC 9.5% 03/31/2020$754,301
PRIME SECURITY SERVICES BORROWER LLC / PRIME FINANCE INC 9.25 05/15/2023$754,200
POST HOLDINGS INC 6% 12/15/2022$752,456
SEALED AIR CORP 4.5% 09/15/2023$751,761
ENCORE CREDIT RECEIVABLES TRUST 2005-3 1.1165% 10/25/2035$750,885
SHELF DRILLING HOLDINGS LTD 8.625% 11/01/2018$742,500
MPLX LP 4.875% 12/01/2024$738,708
COMMSCOPE INC 5.5% 06/15/2024$733,156
CBC AMMO LLC / CBC FINCO INC 7.25% 11/15/2021$731,000
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.75 02/15/2026$729,525
ELDORADO GOLD CORP 6.125% 12/15/2020$727,650
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 6.375 05/01/2024$719,325
PHI INC 5.25% 03/15/2019$717,488
VOUGEOT BIDCO PLC 7.875% 07/15/2020$713,944
PARTY CITY HOLDINGS INC 6.125% 08/15/2023$712,375
DAVITA HEALTHCARE PARTNERS INC 5.125% 07/15/2024$710,763
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.125% 05/01/2023$710,500
COMMSCOPE INC 5% 06/15/2021$708,031
BIOSCRIP INC 8.875% 02/15/2021$705,500
WAMU MORTGAGE PASS-THROUGH CERTIFICATES .679% 11/25/2045$702,881
CENTURY INTERMEDIATE HOLDING CO 2 9.75% 02/15/2019$701,213
BAYTEX ENERGY CORP 5.125% 06/01/2021$700,900
AES CORP/VA 6 05/15/2026$700,350
TECK RESOURCES LTD 8.5 06/01/2024$698,700
FRONTIER COMMUNICATIONS CORP 7.625% 04/15/2024$696,688
MPH ACQUISITION HOLDINGS LLC 7.125 06/01/2024$690,100
ZIGGO BOND FINANCE BV 4.625% 01/15/2025$682,506
HEALTHSOUTH CORP 5.125% 03/15/2023$681,100
VEREIT OPERATING PARTNERSHIP LP 4.875 06/01/2026$680,794
NUMERICABLE-SFR SAS 6% 05/15/2022$679,490
JONES ENERGY HOLDINGS LLC / JONES ENERGY 6.75% 04/01/2022$676,200
MURRAY ENERGY CORP TL B2 1L 7.5% 06/30/2016$674,830
WILLIAMS COS INC/THE 7.5% 01/15/2031$661,625
MDC PARTNERS INC 6.5 05/01/2024$661,300
GOODYEAR TIRE & RUBBER CO/THE 7% 05/15/2022$659,783
HERCULES OFFSH TL IL EXIT (FOR 10.5% 06/30/2016$659,313
GULFPORT ENERGY CORP 6.625% 05/01/2023$656,688
CSMC SERIES 2015-8R 4.5% 06/27/2036$654,959
ROCKIES EXPRESS PIPELINE LLC 6.875% 04/15/2040$654,640
1011778 BC ULC / NEW RED FINANCE INC 6% 04/01/2022$654,413
LAREDO PETROLEUM INC 5.625% 01/15/2022$653,300
NEPTUNE FINCO CORP 6.625% 10/15/2025$653,011
ZF NORTH AMERICA CAPITAL INC 4.75% 04/29/2025$652,438
CNO FINANCIAL GROUP INC 5.25% 05/30/2025$652,050
UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023$649,013
DENBURY RESOURCES INC 5.5% 05/01/2022$647,075
BEVERAGES & MORE INC 10% 11/15/2018$646,625
GFL ENVIRONMENTAL INC 9.875 02/01/2021$643,500
SUN PRODUCTS CORP/THE 7.75% 03/15/2021$641,850
MICHAEL BAKER HOLDINGS LLC / MICAHEL BAK 8.875% 04/15/2019$640,371
IMS HEALTH INC 4.125% 04/01/2023$633,842
TA MFG. LTD 3.625% 04/15/2023$631,037
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.375% 03/15/2020$630,125
AES CORP/VA 5.5 04/15/2025$628,425
T-MOBILE USA INC 6 04/15/2024$626,760
TRIONISTA TOPCO GMBH 6.875% 04/30/2021$623,170
TRONOX FINANCE LLC 6.375% 08/15/2020$620,000
UNIVISION COMMUNICATIONS INC 6.75% 09/15/2022$619,491
SCIENTIFIC GAMES INTERNATIONAL INC 7% 01/01/2022$614,075
SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025$613,050
VEREIT OPERATING PARTNERSHIP LP 4.6 02/06/2024$611,806
RANGE RESOURCES CORP 4.875 05/15/2025$603,250
BANK OF AMERICA CORP 6.5% 10/23/2024$602,063
NETFLIX INC 5.875% 02/15/2025$599,925
TPF II LC LLC NEW TLB/TENASKA 5.5% 06/30/2016$599,823
IASIS HEALTHCARE LLC / IASIS CAPITAL COR 8.375% 05/15/2019$598,300
UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025$597,000
FORUM ENERGY TECHNOLOGIES INC 6.25% 10/01/2021$596,900
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.625% 04/15/2023$595,335
GROUP 1 AUTOMOTIVE INC 5.25% 12/15/2023$594,000
HCA INC 5.25 06/15/2026$592,250
EXAMWORKS GROUP INC 5.625% 04/15/2023$591,938
CLIFFS NATURAL RESOURCES INC 8.25% 03/31/2020$591,938
ENERGIZER HOLDINGS INC 5.5% 06/15/2025$587,568
RED OAK POWER LLC 9.2% 11/30/2029$582,400
CONTINENTAL RESOURCES INC/OK 4.9 06/01/2044$579,250
INTERFACE SECURITY SYSTEMS HOLDINGS INC 9.25% 01/15/2018$578,938
GREYSTAR REAL ESTATE PARTNERS LLC 8.25% 12/01/2022$574,750
CALUMET SPECIALTY PRODUCTS PARTNERS LP / 6.5% 04/15/2021$573,750
FRONTIER COMMUNICATIONS CORP 11% 09/15/2025$571,900
NRG ENERGY INC 7.25 05/15/2026$569,288
CENTENE ESCROW CORP 6.125% 02/15/2024$564,762
PULTEGROUP INC 5.5% 03/01/2026$563,409
T-MOBILE USA INC 6.5% 01/15/2026$562,463
ALTICE US FINANCE I CORP 5.5 05/15/2026$562,375
DAVITA HEALTHCARE PARTNERS INC 5% 05/01/2025$561,469
VWR FUNDING INC 4.625% 04/15/2022$561,082
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 5.5 10/15/2019$559,075
LIFEPOINT HEALTH INC 5.375 05/01/2024$558,469
MPLX LP 4.875% 06/01/2025$550,843
SPRINT COMMUNICATIONS INC 7% 08/15/2020$550,733
XPO LOGISTICS INC 6.5% 06/15/2022$550,050
LAMAR MEDIA CORP 5.75% 02/01/2026$548,600
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 6.02 06/15/2026$546,880
SPECTRUM BRANDS INC 5.75% 07/15/2025$546,000
TENET HEALTHCARE CORP 4.75% 06/01/2020$544,906
GOODYEAR TIRE & RUBBER CO/THE 5.125% 11/15/2023$544,575
HOLDING MEDI-PARTENAIRES SAS 7% 05/15/2020$544,532
ALBERTSONS COS LLC / SAFEWAY INC / NEW ALBERTSON'S INC / ALBERTSON'S LLC 6.625 06/15/2024$543,913
LEVI STRAUSS & CO 5% 05/01/2025$543,375
ROCKIES EXPRESS PIPELINE LLC 5.625% 04/15/2020$541,925
MGM RESORTS INTERNATIONAL 6.625% 12/15/2021$541,875
L BRANDS INC 6.875 11/01/2035$540,600
OPE KAG FINANCE SUB INC 7.875% 07/31/2023$535,300
HEALTHSOUTH CORP 5.75% 11/01/2024$534,844
GLP CAPITAL LP / GLP FINANCING II INC 5.375 04/15/2026$532,950
SERVICE CORP INTERNATIONAL/US 5.375% 05/15/2024$530,400
DYNEGY INC 6.75% 11/01/2019$528,938
ALLIANCE ONE INTERNATIONAL INC 9.875% 07/15/2021$528,750
CALIFORNIA RESOURCES CORP 5.5% 09/15/2021$525,925
FRONTIER COMMUNICATIONS CORP 7.125% 01/15/2023$525,038
LEVEL 3 FINANCING INC 6.125% 01/15/2021$523,750
WILLIAM LYON HOMES INC 8.5 11/15/2020$522,500
WILLIAM CARTER CO/THE 5.25% 08/15/2021$520,000
MONITRONICS INTERNATIONAL INC 9.125% 04/01/2020$519,750
KLOECKNER PENTAPLAST OF AMERICA INC 7.125% 11/01/2020$518,977
STEEL DYNAMICS INC 5.125% 10/01/2021$517,312
VISTA OUTDOOR INC 5.875% 10/01/2023$514,549
DPX HOLDINGS BV 7.5% 02/01/2022$514,375
NCL CORP LTD 5.25% 11/15/2019$512,500
AUSDRILL FINANCE PTY LTD 6.875% 11/01/2019$511,850
CARROLS RESTAURANT GROUP INC 8% 05/01/2022$510,538
CALPINE CORP 5.5% 02/01/2024$510,399
T-MOBILE USA INC 6.464% 04/28/2019$510,313
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.5% 03/01/2023$509,350
GOLDMAN SACHS GROUP INC/THE 5.15% 05/22/2045$506,230
LIFEPOINT HEALTH INC 5.5% 12/01/2021$505,613
HUDBAY MINERALS INC 9.5% 10/01/2020$505,175
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.25% 04/15/2021$503,750
ANGLO AMERICAN CAPITAL PLC 4.875 05/14/2025$496,800
LEVEL 3 FINANCING INC 5.125% 05/01/2023$494,288
FIDELITY & GUARANTY LIFE HOLDINGS INC 6.375% 04/01/2021$492,450
INOVYN FINANCE PLC 6.25 05/15/2021$491,496
ANTERO RESOURCES CORP 5.625 06/01/2023$490,000
CSC HOLDINGS LLC 5.25% 06/01/2024$487,350
STANDARD INDUSTRIES INC/NJ 5.5% 02/15/2023$486,450
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 .999% 03/25/2037$486,186
CALATLANTIC GROUP INC 5.25 06/01/2026$484,794
WESCO DISTRIBUTION INC 5.375% 12/15/2021$484,100
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.625% 12/01/2025$483,575
NRG REMA LLC 9.681% 07/02/2026$480,625
CALUMET SPECIALTY PRODUCTS PARTNERS LP / CALUMET FINANCE CORP 11.5 01/15/2021$479,600
JACK COOPER HOLDINGS CORP 10.25% 06/01/2020$478,800
TEINE ENERGY LTD 6.875% 09/30/2022$475,300
UNITED RENTALS NORTH AMERICA INC 5.5% 07/15/2025$472,800
TMS INTERNATIONAL CORP 7.625% 10/15/2021$472,350
MATTERHORN TELECOM SA 3.875% 05/01/2022$469,258
PLANTRONICS INC 5.5% 05/31/2023$468,825
CAROLINA BEVERAGE GROUP LLC / CAROLINA B 10.625% 08/01/2018$467,950
RSP PERMIAN INC 6.625 10/01/2022$466,875
EP ENERGY LLC / EVEREST ACQUISITION FINA 9.375% 05/01/2020$466,200
ABN AMRO BANK NV 4.75% 07/28/2025$465,194
TMX FINANCE LLC / TITLEMAX FINANCE CORP 8.5% 09/15/2018$465,000
BLUESCOPE STEEL FINANCE LTD/BLUESCOPE STEEL FINANCE USA LLC 6.5 05/15/2021$463,500
ACTIVISION BLIZZARD INC 5.625% 09/15/2021$463,100
LMI AEROSPACE INC 7.375% 07/15/2019$461,250
CHESAPEAKE ENERGY CORP 4.875% 04/15/2022$453,750
EAGLE SPINCO INC 4.625% 02/15/2021$452,813
GRIFOLS WORLDWIDE OPERATIONS LTD 5.25% 04/01/2022$452,100
NELNET STUDENT LOAN TRUST 2008-3 1.979% 11/25/2024$451,828
ARCELORMITTAL 6.125% 06/01/2025$450,800
NBTY INC 7.625 05/15/2021$449,900
FRONTIER COMMUNICATIONS CORP 10.5% 09/15/2022$449,350
GEO GROUP INC/THE 5.875% 10/15/2024$447,150
CHOCTAW RESORT DEVELOPMENT ENTERPRISE 7.25% 11/15/2019$439,493
BOPARAN FINANCE PLC 5.5% 07/15/2021$435,664
VIRGIN MEDIA FINANCE PLC 4.875% 02/15/2022$435,000
SLM STUDENT LOAN TRUST 2008-5 1.995% 07/25/2023$424,270
ECO SERVICES OPERATIONS LLC/ECO FINANCE 8.5% 11/01/2022$423,550
MASTR ASSET BACKED SECURITIES TRUST 2006 .489% 12/25/2035$421,387
TECK RESOURCES LTD 8 06/01/2021$419,225
FIRST DATA CORP 5.75% 01/15/2024$416,556
BLUE RACER MIDSTREAM LLC / BLUE RACER FI 6.125% 11/15/2022$416,300
MOTO FINANCE PLC 6.375% 09/01/2020$413,029
VIKING CRUISES LTD 6.25% 05/15/2025$412,100
ANGLO AMERICAN CAPITAL PLC 3.5% 03/28/2022$410,751
SPEEDWAY MOTORSPORTS INC 5.125% 02/01/2023$410,000
ALLY FINANCIAL INC 5.125% 09/30/2024$408,825
CENGAGE LEARNING INC 9.5 06/15/2024$406,000
PRIDE INTERNATIONAL INC 7.875 08/15/2040$404,593
TECK RESOURCES LTD 3 03/01/2019$404,250
IMMUCOR INC 11.125% 08/15/2019$402,600
AMERICAN AXLE & MANUFACTURING INC 6.625% 10/15/2022$401,375
WHITING PETROLEUM CORP 5.75% 03/15/2021$400,675
CIT GROUP INC 5.5% 02/15/2019$398,050
UNITED RENTALS NORTH AMERICA INC 5.875 09/15/2026$396,000
CREDIT AGRICOLE SA 8.125% 12/23/2025$395,504
SIG COMBIBLOC HOLDINGS SCA 7.75% 02/15/2023$394,186
ANTERO RESOURCES CORP 5.375 11/01/2021$392,000
TRANSDIGM INC 6.375 06/15/2026$390,975
ANGLO AMERICAN CAPITAL PLC 1.75% 04/03/2018$390,745
FLORIDA EAST COAST HOLDINGS CORP 6.75% 05/01/2019$390,000
CHENIERE CORPUS CHRISTI HOLDINGS LLC 7 06/30/2024$389,975
BARMINCO FINANCE PTY LTD 9% 06/01/2018$389,813
COEUR MINING INC 7.875% 02/01/2021$389,647
CROWNROCK LP / CROWNROCK FINANCE INC 7.75% 02/15/2023$387,575
PRECISION DRILLING CORP 6.5% 12/15/2021$387,000
BWAY HOLDING CO 9.125% 08/15/2021$387,000
HSBC HOLDINGS PLC 6.375% 09/17/2024$386,425
RICE ENERGY INC 7.25% 05/01/2023$385,700
FMG RESOURCES AUGUST 2006 PTY LTD 9.75% 03/01/2022$385,200
WPX ENERGY INC 8.25% 08/01/2023$383,175
TENNECO INC 5.375 12/15/2024$380,038
GIBSON BRANDS INC 8.875% 08/01/2018$378,075
IHEARTCOMMUNICATIONS INC 14% 02/01/2021$377,387
HSBC HOLDINGS PLC 6.375% 03/30/2025$374,400
PANDA TEMPLE POWER TERM LOAN 03/15 7.25% 06/30/2016$374,220
GREATBATCH LTD 9.125% 11/01/2023$373,700
GAMESTOP CORP 6.75 03/15/2021$372,400
GENERAL MOTORS CO 5.2% 04/01/2045$371,059
DAVITA HEALTHCARE PARTNERS INC 5.75% 08/15/2022$367,938
VALEANT PHARMACEUTICALS INTERNATIONAL 6.375% 10/15/2020$366,950
FREEPORT-MCMORAN INC 3.55 03/01/2022$362,275
MURPHY OIL USA INC 6% 08/15/2023$354,450
TEMPUR SEALY INTERNATIONAL INC 5.625 10/15/2023$354,025
BHP BILLITON FINANCE USA LTD 6.75% 10/19/2075$353,090
VIACOM INC 4.375% 03/15/2043$353,050
ENDEAVOR ENERGY RESOURCES LP / EER FINANCE INC 7 08/15/2021$352,800
DUFRY FINANCE SCA 5.5% 10/15/2020$350,934
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 8.25% 10/15/2023$350,575
CHESAPEAKE ENERGY CORP 5.75 03/15/2023$350,550
ARDAGH PACKAGING FINANCE PLC / ARDAGH HOLDINGS USA INC 4.625 05/15/2023$350,000
LANTHEUS MEDICAL IMAGING TL B 7% 06/30/2016$346,432
CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATIONS OPERATING CAPITAL 6.484 10/23/2045$345,707
HCA INC 5.875% 05/01/2023$344,906
COVERIS HOLDINGS SA 7.875% 11/01/2019$344,750
CGG SA 6.5% 06/01/2021$344,000
LANDRY'S INC 9.375% 05/01/2020$341,656
DS SERVICES OF AMERICA INC 10% 09/01/2021$340,500
CALPINE CORP 5.25 06/01/2026$340,425
WINDSTREAM SERVICES LLC 7.75% 10/15/2020$338,400
TIME WARNER CABLE INC 7.3% 07/01/2038$338,139
SM ENERGY CO 5.625% 06/01/2025$337,350
T-MOBILE USA INC 6% 03/01/2023$334,800
L BRANDS INC 6.95% 03/01/2033$334,125
CARRIZO OIL & GAS INC 7.5% 09/15/2020$332,475
UNITED STATES STEEL CORP 8.375 07/01/2021$331,200
CTP TRANSPORTATION PRODUCTS LLC / CTP FI 8.25% 12/15/2019$329,800
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 7.5% 07/01/2021$326,375
GAMESTOP CORP 5.5% 10/01/2019$322,163
CONCHO RESOURCES INC 6.5% 01/15/2022$321,625
HCA INC 5.25% 04/15/2025$320,075
KRAFT HEINZ FOODS CO 7.125% 08/01/2039$318,146
ROSE ROCK MIDSTREAM LP / ROSE ROCK FINANCE CORP 5.625% 11/15/2023$317,300
VIRGIN MEDIA FINANCE PLC 6% 10/15/2024$315,813
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 5.45 06/15/2023$315,670
PSPC ESCROW CORP 6% 02/01/2023$313,684
PSPC ESCROW CORP 6% 02/01/2023$313,684
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.25% 05/01/2023$311,850
ALTICE FINANCING SA 5.25% 02/15/2023$311,118
JLL/DELTA DUTCH PLEDGECO BV 9.5% 05/01/2020$310,000
GENWORTH HOLDINGS INC 7.7% 06/15/2020$309,750
NCL CORP LTD 4.625% 11/15/2020$307,500
GENESIS ENERGY LP / GENESIS ENERGY FINAN 6% 05/15/2023$305,250
NEIMAN MARCUS GROUP LTD LLC 8 10/15/2021$304,000
ENSCO PLC 5.75 10/01/2044$303,550
SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023$303,000
BERRY PETROLEUM CO LLC 6.375% 09/15/2022$301,840
ALCOA INC 5.95% 02/01/2037$300,904
DOWNSTREAM DEVELOPMENT AUTHORITY OF THE 10.5% 07/01/2019$300,800
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENL 5.25% 08/04/2045$298,853
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 4.875% 04/15/2020$297,375
STANDARD INDUSTRIES INC/NJ 5.125% 02/15/2021$297,113
MODULAR SPACE CORP 10.25% 01/31/2019$295,200
WILLIAMS COS INC/THE 5.75 06/24/2044$295,200
MEG ENERGY CORP 7% 03/31/2024$294,500
STEEL DYNAMICS INC 5.5% 10/01/2024$293,607
FREEPORT-MCMORAN INC 3.1 03/15/2020$293,400
HILTON WORLDWIDE FINANCE LLC / HILTON WO 5.625% 10/15/2021$290,235
WALTER INVESTMENT MANAGEMENT CORP 7.875% 12/15/2021$290,000
OI SA 5.75% 02/10/2022$289,800
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 5.5% 08/15/2022$288,750
RICE ENERGY INC 6.25% 05/01/2022$287,100
TRIBUNE MEDIA CO 5.875 07/15/2022$284,200
CSC HOLDINGS LLC 6.75% 11/15/2021$283,388
CENTRAL GARDEN & PET CO 6.125% 11/15/2023$281,475
HARDWOODS ACQUISITION INC 7.5% 08/01/2021$281,200
KRAFT HEINZ FOODS CO 4.875% 02/15/2025$280,969
LEVEL 3 FINANCING INC 5.375% 08/15/2022$280,156
MICRON TECHNOLOGY INC 5.5% 02/01/2025$278,025
NELNET STUDENT LOAN TRUST 2005-4 0.4992% 03/22/2032$275,125
AMAG PHARMACEUTICALS INC 7.875% 09/01/2023$274,350
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.625% 10/15/2023$274,050
GREEKTOWN HOLDINGS LLC/GREEKTOWN MOTHERS 8.875% 03/15/2019$273,650
QEP RESOURCES INC 6.875% 03/01/2021$272,700
BNP PARIBAS SA 7.375% 08/19/2025$269,663
SPRINT COMMUNICATIONS INC 11.5% 11/15/2021$268,250
CELANESE US HOLDINGS LLC 4.625% 11/15/2022$267,800
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 7.625 04/22/2046$266,500
BARCLAYS PLC 8.25% 12/15/2018$265,858
BARCLAYS BANK PLC 7.625% 11/21/2022$262,350
FRESENIUS MEDICAL CARE US FINANCE II INC 4.75% 10/15/2024$260,938
US CONCRETE INC 6.375 06/01/2024$260,650
ARCELORMITTAL 6.25% 03/01/2021$260,000
MICHAEL BAKER INTERNATIONAL LLC / CDL ACQUISITION CO INC 8.25 10/15/2018$260,000
ANGLO AMERICAN CAPITAL PLC 3.625 05/14/2020$257,850
ROCKIES EXPRESS PIPELINE LLC 7.5% 07/15/2038$257,500
MATCH GROUP INC 6.375 06/01/2024$255,625
VALEANT PHARMACEUTICALS INTERNATIONAL INC 7.5% 07/15/2021$254,800
SOUTHWESTERN ENERGY CO 4.1 03/15/2022$254,200
LANDRY'S HOLDINGS II INC 10.25% 01/01/2018$253,125
CONSTELLATION BRANDS INC 4.75% 12/01/2025$252,300
NGPL PIPECO LLC 7.119% 12/15/2017$252,300
TRONOX FINANCE LLC 7.5% 03/15/2022$251,250
LAMAR MEDIA CORP 5% 05/01/2023$250,200
AMC ENTERTAINMENT INC 5.75% 06/15/2025$249,375
SOUTHWESTERN ENERGY CO 4.95 01/23/2025$248,538
LINN ENERGY LLC / LINN ENERGY FINANCE CORP 12% 12/15/2020$247,240
USG CORP 5.5% 03/01/2025$245,238
TENET HEALTHCARE CORP 4.375% 10/01/2021$244,388
EP ENERGY LLC / EVEREST ACQUISITION FINA 6.375% 06/15/2023$242,050
SM ENERGY CO 5% 01/15/2024$240,831
ALLY FINANCIAL INC 4.625% 05/19/2022$238,819
CNO FINANCIAL GROUP INC 4.5% 05/30/2020$238,050
NGPL PIPECO LLC 7.768 12/15/2037$237,000
EMPIRE TODAY LLC / EMPIRE TODAY FINANCE 11.375% 02/01/2017$236,400
ALLY FINANCIAL INC 8% 11/01/2031$236,000
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.75% 01/15/2023$233,333
CARMIKE CINEMAS INC 6% 06/15/2023$222,600
MURRAY ENERGY CORP 11.25% 04/15/2021$222,300
GOODYEAR DUNLOP TIRES EUROPE BV 3.75 12/15/2023$220,813
BOPARAN FINANCE PLC 4.375 07/15/2021$218,148
BOYD GAMING CORP 6.375 04/01/2026$217,350
TOLL BROTHERS FINANCE CORP 6.75% 11/01/2019$214,700
LAREDO PETROLEUM INC 7.375 05/01/2022$212,363
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 6.875 04/22/2021$210,000
PACIFIC DRILLING V LTD 7.25% 12/01/2017$210,000
AMERICAN AXLE & MANUFACTURING INC 6.25% 03/15/2021$208,750
CEC ENTERTAINMENT INC 8% 02/15/2022$208,450
WPX ENERGY INC 6 01/15/2022$208,150
JBS USA LLC / JBS USA FINANCE INC 7.25 06/01/2021$207,000
FREEPORT-MCMORAN INC 5.45 03/15/2043$205,116
VIRGIN MEDIA SECURED FINANCE PLC 5.5 08/15/2026$202,500
CARRIZO OIL & GAS INC 6.25% 04/15/2023$201,413
ALTICE FINANCING SA 7.5 05/15/2026$200,000
WHITING PETROLEUM CORP 6.25% 04/01/2023$199,200
RANGE RESOURCES CORP 5 08/15/2022$198,188
NUMERICABLE-SFR SAS 6.25% 05/15/2024$195,250
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.375% 05/01/2025$193,325
ANGLO AMERICAN CAPITAL PLC 4.125 09/27/2022$192,150
NAVIENT CORP 5.5% 01/15/2019$190,713
NAVIENT CORP 5.875% 03/25/2021$188,750
ALTICE LUXEMBOURG SA 6.25 02/15/2025$188,511
PQ CORP 6.75 11/15/2022$188,100
WILLIAMS COS INC/THE 3.7 01/15/2023$186,450
PETROBRAS GLOBAL FINANCE BV 6.85% 06/05/2115$186,300
CLOUD PEAK ENERGY RESOURCES LLC / CLOUD 6.375% 03/15/2024$185,500
NWH ESCROW CORP 7.5% 08/01/2021$180,000
PANDA TEMPLE POWER II ADVANCE 7.25% 06/30/2016$178,000
ROYAL BANK OF SCOTLAND GROUP PLC 7.648% 09/30/2029$177,375
CHESAPEAKE ENERGY CORP 6.875 11/15/2020$171,600
COMMSCOPE HOLDING CO INC 7.375% 06/01/2020$170,977
LIFEPOINT HEALTH INC 5.875% 12/01/2023$170,775
PARSLEY ENERGY LLC / PARSLEY FINANCE COR 7.5% 02/15/2022$169,800
POST HOLDINGS INC 7.75% 03/15/2024$169,144
MEG ENERGY CORP 6.5% 03/15/2021$166,425
SPRINT COMMUNICATIONS INC 6% 11/15/2022$166,100
FREEPORT-MCMORAN INC 3.875 03/15/2023$165,500
GOODYEAR TIRE & RUBBER CO/THE 5 05/31/2026$162,200
GLOBE LUXEMBOURG SCA 9.625% 05/01/2018$161,500
COMM 2015-LC21 MORTGAGE TRUST 3.25% 07/10/2048$158,791
WELLS FARGO COMMERCIAL MORTGAGE TRUST 20 4.62% 12/15/2047$157,743
RESOLUTE FOREST PRODUCTS INC 5.875% 05/15/2023$156,713
COMPILER FINANCE SUB INC 7% 05/01/2021$155,100
GENWORTH HOLDINGS INC 4.9% 08/15/2023$154,875
FRONTIER COMMUNICATIONS CORP 6.875% 01/15/2025$154,706
SEALED AIR CORP 4.5% 09/15/2023$153,904
NEOVIA LOGISTICS INTERMEDIATE HOLDINGS LLC / LOGISTICS INTERMEDIATE FINANCE CORP 10 02/15/2018$153,000
PERFORMANCE FOOD GROUP INC 5.5 06/01/2024$152,250
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.875% 04/15/2023$151,875
JPMBB COMMERCIAL MORTGAGE SECURITIES TRU 4.273% 08/15/2048$151,608
HANESBRANDS INC 4.625 05/15/2024$150,750
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 6.75% 05/20/2020$150,619
RENT-A-CENTER INC/TX 4.75% 05/01/2021$150,300
EV ENERGY PARTNERS LP / EV ENERGY FINANCE CORP 8% 04/15/2019$149,800
R&R ICE CREAM PLC 5.5% 05/15/2020$149,053
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 3% 05/15/2048$148,933
CONSTELLATION BRANDS INC 4.75% 11/15/2024$147,875
KRONOS ACQUISITION HOLDINGS INC 9% 08/15/2023$145,875
MATTERHORN TELECOM SA 3.625% 05/01/2022$143,360
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL 6.75% 02/01/2022$141,375
CONCHO RESOURCES INC 5.5 04/01/2023$140,700
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.125 06/15/2019$138,600
CENTURYLINK INC 5.8% 03/15/2022$135,625
CIT GROUP INC 5% 08/01/2023$132,925
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.772724% 08/15/2048$130,885
HANESBRANDS INC 4.875 05/15/2026$130,813
PINNACLE ENTERTAINMENT INC 5.625 05/01/2024$127,400
GENERAL MOTORS CO 6.6% 04/01/2036$126,490
ENDO FINANCE LLC / ENDO FINCO INC 5.375% 01/15/2023$125,788
SABINE PASS LIQUEFACTION LLC 5.625% 03/01/2025$125,469
GRAPHIC PACKAGING INTERNATIONAL INC 4.875 11/15/2022$124,200
LGE HOLDCO VI BV 7.125% 05/15/2024$123,098
TECHNIPLAS LLC 10% 05/01/2020$119,850
NCR CORP 6.375% 12/15/2023$117,390
STONE ENERGY CORP 7.5% 11/15/2022$116,325
SM ENERGY CO 6.125% 11/15/2022$110,400
VALEANT PHARMACEUTICALS INTERNATIONAL 7 10/01/2020$108,900
GUITAR CENTER INC 6.5 04/15/2019$107,100
VALEANT PHARMACEUTICALS INTERNATIONAL IN 6.125% 04/15/2025$100,650
MORGAN STANLEY RESECURITIZATION TRUST 20 .424% 10/26/2046$96,436
SANCHEZ ENERGY CORP 6.125% 01/15/2023$94,250
WESTERN DIGITAL CORP 10.5 04/01/2024$93,375
PARSLEY ENERGY LLC / PARSLEY FINANCE CORP 6.25 06/01/2024$92,025
CASCADES INC 5.75 07/15/2023$87,300
CGG SA 6.875% 01/15/2022$86,000
MEG ENERGY CORP 6.375% 01/30/2023$84,700
MALLINCKRODT INTERNATIONAL FINANCE SA 4.75% 04/15/2023$82,875
GARDA WORLD SECURITY CORP 7.25% 11/15/2021$81,750
MICRON TECHNOLOGY INC 5.25% 08/01/2023$76,725
LAREDO PETROLEUM INC 6.25% 03/15/2023$76,000
CONTINENTAL RESOURCES INC/OK 4.5 04/15/2023$73,250
FMG RESOURCES PTY LTD LOAN 4.25% 06/20/2016$72,626
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.5% 04/15/2025$72,600
COMMSCOPE INC 4.375% 06/15/2020$72,275
ENSCO PLC 4.7% 03/15/2021$70,763
MALLINCKRODT INTERNATIONAL FINANCE SA 3.5 04/15/2018$68,425
ENSCO PLC 5.2% 03/15/2025$66,575
CIT GROUP INC 5.375% 05/15/2020$63,000
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.875% 04/01/2024$62,700
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 6.125 10/15/2021$62,250
ACADIA HEALTHCARE CO INC 5.625% 02/15/2023$61,275
AES CORP/VA 5.5% 03/15/2024$60,881
TENET HEALTHCARE CORP 4.5% 04/01/2021$60,675
CALIFORNIA RESOURCES CORP 6% 11/15/2024$59,813
GENERAL MOTORS CO 6.75% 04/01/2046$58,786
ALCOA INC 5.125 10/01/2024$58,181
VALEANT PHARMACEUTICALS INTERNATIONAL 7.25% 07/15/2022$52,830
LEVEL 3 FINANCING INC 5.375 01/15/2024$51,010
CONTINENTAL RESOURCES INC/OK 5% 09/15/2022$47,500
BERRY PETROLEUM CO LLC 6.75 11/01/2020$44,100
PULTEGROUP INC 4.25% 03/01/2021$41,050
INTERNATIONAL LEASE FINANCE CORP 8.625% 01/15/2022$36,488
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$36,338
DISH DBS CORP 6.75% 06/01/2021$31,149
OPEN TEXT CORP 5.875 06/01/2026$30,150
AXIALL CORP 4.875% 05/15/2023$20,075
SEVENTY SEVEN ENERGY INC 6.5% 07/15/2022$11,100
ANCESTRY.COM INC 11% 12/15/2020$10,850
NRG ENERGY INC 6.625% 03/15/2023$9,975
CHESAPEAKE ENERGY CORP 5.375 06/15/2021$6,275
ANTERO RESOURCES CORP 5.125 12/01/2022$4,813
ESCROW MAGELLAN 9.75% 05/15/2020 9.75 05/15/2020$0
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$11,271,668
 
Other
Holding NameMarket Value
CURRENCY CONTRACT$781,179
USD$99,934
EURO$35,396
CURRENCY CONTRACT$17,462
BRITISH POUND$8,327
US 2YR NOTE (CBT) BOND SEP16 (TUU6) COMDTY$7,036
CURRENCY CONTRACT$6,383
CURRENCY CONTRACT$5,909
SWISS FRANC$2,735
US 5YR NOTE (CBT) BOND SEP16 (FVU6) COMDTY$1,775
CURRENCY CONTRACT$-2,930
USD$-283,199
All Holdings As of Apr 30, 2016
Equity
Holding NameMarket Value
GMAC CAPITAL TRUST I$1,125,016
ALLERGAN PLC$408,991
HERCULES OFFSHORE INC$25,669
 
Fixed Income
Holding NameMarket Value
SPRINT CORP 7.25% 09/15/2021$4,505,313
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 4.949% 10/25/2024$2,562,246
DISH DBS CORP 5.875% 07/15/2022$2,559,375
HCA INC 5.375% 02/01/2025$2,544,019
NAVIENT CORP 4.875% 06/17/2019$2,540,523
FIRST DATA CORP 7% 12/01/2023$2,392,500
SANMINA CORP 4.375% 06/01/2019$2,255,000
CIT GROUP INC 5% 08/15/2022$2,136,750
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.5% 05/15/2021$2,072,500
LEVEL 3 FINANCING INC 6.125% 01/15/2021$1,968,750
CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022$1,933,750
CONVATEC FINANCE INTERNATIONAL SA 8.25% 01/15/2019$1,911,875
TENET HEALTHCARE CORP 6.75% 06/15/2023$1,853,638
FLEXI-VAN LEASING INC 7.875% 08/15/2018$1,852,875
MIRAN MID-ATLANTIC SERIES C PASS THROUGH 10.06% 12/30/2028$1,814,623
NEUBERGER BERMAN GROUP LLC / NEUBERGER B 5.875% 03/15/2022$1,772,250
UNITED RENTALS NORTH AMERICA INC 6.125% 06/15/2023$1,761,825
NOVELIS INC 8.75% 12/15/2020$1,727,438
NRG ENERGY INC 6.25% 07/15/2022$1,724,310
PRESTIGE BRANDS INC 5.375% 12/15/2021$1,700,513
ASHTEAD CAPITAL INC 6.5% 07/15/2022$1,692,820
BALL CORP 4.375% 12/15/2023$1,691,182
INTELSAT JACKSON HOLDINGS SA 8 02/15/2024$1,691,125
INTELSAT JACKSON HOLDINGS SA 7.5% 04/01/2021$1,672,444
WMG ACQUISITION CORP 5.625% 04/15/2022$1,647,300
DOLLAR TREE INC 5.75% 03/01/2023$1,646,748
NUMERICABLE-SFR SA 7.375 05/01/2026$1,636,163
SPRINT CAPITAL CORP 6.9% 05/01/2019$1,610,000
BUILDING MATERIALS CORP OF AMERICA 6% 10/15/2025$1,596,688
T-MOBILE USA INC 6.633% 04/28/2021$1,586,250
IRON MOUNTAIN EUROPE PLC 6.125% 09/15/2022$1,523,852
MORGAN STANLEY RESECURITIZATION TRUST 2015-R6 0.448% 07/26/2045$1,518,739
SPECTRUM BRANDS INC 6.625% 11/15/2022$1,502,725
CLEAN HARBORS INC 5.25% 08/01/2020$1,454,063
NEIMAN MARCUS GROUP LTD LLC 9.5% 10/15/2021$1,452,900
SUMMIT MATERIALS LLC / SUMMIT MATERIALS FINANCE CORP 6.125% 07/15/2023$1,442,813
ALTICE FINANCING SA 6.625% 02/15/2023$1,429,272
ENDO FINANCE LLC 5.75% 01/15/2022$1,423,325
NOMURA RESECURITIZATION TRUST 2015-6R .389% 05/26/2046$1,393,323
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.75% 06/01/2022$1,378,775
SUBURBAN PROPANE PARTNERS LP/SUBURBAN EN 5.5% 06/01/2024$1,365,375
ACADIA HEALTHCARE CO INC 5.125% 07/01/2022$1,344,750
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 7% 05/20/2022$1,337,175
CCO SAFARI II LLC 4.908% 07/23/2025$1,327,934
1011778 BC ULC / NEW RED FINANCE INC 4.625% 01/15/2022$1,300,815
TENET HEALTHCARE CORP 8.125% 04/01/2022$1,271,850
CASCADES INC 5.5% 07/15/2022$1,270,700
PACTIV LLC 8.375% 04/15/2027$1,267,500
HEALTHSOUTH CORP 5.125% 03/15/2023$1,264,413
OASIS PETROLEUM INC 6.875% 01/15/2023$1,258,988
FIRST DATA CORP 5% 01/15/2024$1,241,844
UNITED AIRLINES 2013-1 CLASS B PASS THRO 5.375% 02/15/2023$1,234,822
R&R PIK PLC 9.25% 05/15/2018$1,231,959
VALEANT PHARMACEUTICALS INTERNATIONAL 6.75% 08/15/2021$1,225,725
CHURCHILL DOWNS INC 5.375% 12/15/2021$1,208,025
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.625% 07/01/2022$1,204,950
DJO FINCO INC / DJO FINANCE LLC / DJO FI 8.125% 06/15/2021$1,179,200
ENVISION HEALTHCARE CORP 5.125% 07/01/2022$1,175,875
MALLINCKRODT INTERNATIONAL FINANCE SA / 5.75% 08/01/2022$1,166,963
NIELSEN FINANCE LLC / NIELSEN FINANCE CO 5% 04/15/2022$1,161,956
FIRST QUALITY FINANCE CO INC 4.625% 05/15/2021$1,149,000
CONSTELLATION BRANDS INC 6% 05/01/2022$1,142,500
CHESAPEAKE ENERGY CORP 3.5388% 04/15/2019$1,137,500
GEO GROUP INC/THE 6 04/15/2026$1,134,835
HCA INC 5.875% 02/15/2026$1,133,600
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 6.75% 03/15/2024$1,129,863
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.875% 05/15/2023$1,128,950
UNIVERSAL HOSPITAL SERVICES INC 7.625% 08/15/2020$1,126,560
PILGRIM'S PRIDE CORP 5.75% 03/15/2025$1,124,750
NUMERICABLE-SFR SAS 5.625% 05/15/2024$1,122,393
PINNACLE FOODS FINANCE LLC / PINNACLE FO 4.875% 05/01/2021$1,112,125
INGLES MARKETS INC 5.75% 06/15/2023$1,107,700
MILACRON LLC / MCRON FINANCE CORP 7.75% 02/15/2021$1,104,581
SIX FLAGS ENTERTAINMENT CORP 5.25% 01/15/2021$1,092,000
JBS USA LLC / JBS USA FINANCE INC 7.25% 06/01/2021$1,091,800
HCA HOLDINGS INC 6.25% 02/15/2021$1,091,500
LIFEPOINT HEALTH INC 5.5% 12/01/2021$1,078,988
APEX TOOL GROUP LLC 7% 02/01/2021$1,072,425
REPERFORMING LOAN REMIC TRUST 2005-R2 8% 06/25/2035$1,060,728
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.344% 03/25/2037$1,058,928
COVANTA HOLDING CORP 6.375% 10/01/2022$1,055,700
CAPSUGEL SA 7% 05/15/2019$1,038,733
VIASAT INC 6.875% 06/15/2020$1,033,750
LEVEL 3 FINANCING INC 5.625% 02/01/2023$1,031,250
OPEN TEXT CORP 5.625% 01/15/2023$1,030,000
KCA DEUTAG UK FINANCE PLC 7.25% 05/15/2021$1,027,500
RITE AID CORP 6.125% 04/01/2023$1,026,605
NCR CORP 5.875% 12/15/2021$1,025,888
H&E EQUIPMENT SERVICES INC 7% 09/01/2022$1,025,150
BLUELINE RENTAL FINANCE CORP 7% 02/01/2019$1,023,700
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 3.286% 12/15/2019$1,012,375
WORLDPAY FINANCE PLC 3.75% 11/15/2022$1,000,287
MGP ESCROW ISSUER LLC / MGP ESCROW CO-ISSUER INC 5.625 05/01/2024$997,975
DARLING GLOBAL FINANCE BV 4.75% 05/30/2022$987,960
COGENT COMMUNICATIONS GROUP INC 5.375% 03/01/2022$980,000
CITIGROUP INC 5.95% 05/15/2025$969,850
SBA COMMUNICATIONS CORP 4.875% 07/15/2022$965,152
HD SUPPLY INC 5.75 04/15/2024$961,894
QUICKEN LOANS INC 5.75% 05/01/2025$954,450
CEDAR FAIR LP / CANADA'S WONDERLAND CO / 5.375% 06/01/2024$954,363
SINCLAIR TELEVISION GROUP INC 5.375% 04/01/2021$952,744
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 5% 10/01/2021$951,750
AURIS LUXEMBOURG II SA 8% 01/15/2023$951,021
STUDIO CITY FINANCE LTD 8.5% 12/01/2020$948,460
HUNTINGTON INGALLS INDUSTRIES INC 5% 12/15/2021$946,692
WEST CORP 5.375% 07/15/2022$945,100
CITGO PETROLEUM CORP 6.25% 08/15/2022$940,800
HUB INTERNATIONAL LTD 7.875% 10/01/2021$933,375
AMSURG CORP 5.625% 07/15/2022$932,150
UPCB FINANCE IV LTD 5.375% 01/15/2025$930,475
TERRAFORM POWER OPERATING LLC 5.875% 02/01/2023$921,375
DBP HOLDING CORP 7.75% 10/15/2020$918,000
SABINE PASS LIQUEFACTION LLC 5.625% 04/15/2023$916,050
NRG YIELD OPERATING LLC 5.375% 08/15/2024$911,925
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$904,750
TELECOM ITALIA SPA 5.303% 05/30/2024$902,140
WATCO COS LLC / WATCO FINANCE CORP 6.375% 04/01/2023$900,000
ZF NORTH AMERICA CAPITAL INC 4.5% 04/29/2022$899,045
ALLY FINANCIAL INC 7.5% 09/15/2020$898,875
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.75% 12/15/2023$897,750
JAGUAR HOLDING CO II / PHARMACEUTICAL PR 6.375% 08/01/2023$895,690
CARLSON TRAVEL HOLDINGS INC 7.5% 08/15/2019$894,700
SPRINT COMMUNICATIONS INC 8.375% 08/15/2017$894,688
HOMEVI SAS 6.875% 08/15/2021$893,563
DH SERVICES LUXEMBOURG SARL 7.75% 12/15/2020$893,250
VIRGIN MEDIA FINANCE PLC 7% 04/15/2023$890,032
MEDIACOM BROADBAND LLC / MEDIACOM BROADB 5.5% 04/15/2021$872,313
CHEMOURS CO/THE 6.125% 05/15/2023$863,554
ANCESTRY.COM HOLDINGS LLC 10.375% 10/15/2018$861,000
VWR FUNDING INC 4.625% 04/15/2022$854,555
SIMMONS FOODS INC 7.875% 10/01/2021$853,875
AMERICAN AIRLINES 2013-2 CLASS B PASS TH 5.6% 01/15/2022$853,755
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 6.375% 03/01/2024$850,650
CTR PARTNERSHIP LP / CARETRUST CAPITAL C 5.875% 06/01/2021$850,500
CENTENE ESCROW CORP 5.625% 02/15/2021$849,275
CALPINE CORP 5.5% 02/01/2024$847,525
ARDAGH PACKAGING FINANCE PLC 9.125% 10/15/2020$844,000
GULFPORT ENERGY CORP 6.625% 05/01/2023$843,375
DENALI BORROWER LLC / DENALI FINANCE COR 5.625% 10/15/2020$833,450
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.875 02/15/2023$832,600
WOODSIDE HOMES CO LLC / WOODSIDE HOMES F 6.75% 12/15/2021$832,500
SPIRIT AEROSYSTEMS INC 5.25% 03/15/2022$831,119
NAVIOS MARITIME ACQUISITION CORP / NAVIO 8.125% 11/15/2021$827,500
SANCHEZ ENERGY CORP 7.75% 06/15/2021$827,500
FIRST QUANTUM MINERALS LTD 7.25% 05/15/2022$825,550
ACCO BRANDS CORP 6.75% 04/30/2020$820,050
INTREPID AVIATION GROUP HOLDINGS LLC / I 6.875% 02/15/2019$818,925
GUITAR CENTER INC 9.625% 04/15/2020$816,200
WINDSTREAM SERVICES LLC 7.5% 04/01/2023$815,000
NEW COTAI LLC / NEW COTAI CAPITAL CORP 10.625% 05/01/2019$814,457
ALTICE LUXEMBOURG SA 7.25% 05/15/2022$806,364
PLASTIPAK HOLDINGS INC 6.5% 10/01/2021$800,700
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 4.25% 01/15/2022$797,105
IRON MOUNTAIN INC 6% 10/01/2020$795,000
FRONTIER COMMUNICATIONS CORP 10.5% 09/15/2022$789,954
NATURAL RESOURCE PARTNERS LP / NRP FINAN 9.125% 10/01/2018$787,750
SCIENTIFIC GAMES INTERNATIONAL INC 6.25% 09/01/2020$786,713
CENTURYLINK INC 5.625% 04/01/2025$784,311
CENTURYLINK INC 5.625% 04/01/2020$783,750
TELENET FINANCE V LUXEMBOURG SCA 6.25% 08/15/2022$782,735
PORTAVENTURA ENTERTAINMENT BARCELONA BV 7.25% 12/01/2020$781,474
CAESARS ENTERTAINMENT RESORT PROPERTIES 8% 10/01/2020$780,125
AMERICAN BUILDERS & CONTRACTORS SUPPLY C 5.625% 04/15/2021$780,000
SEALED AIR CORP 4.5% 09/15/2023$779,451
FRESENIUS MEDICAL CARE US FINANCE II INC 5.875% 01/31/2022$773,500
MPLX LP 4.875% 12/01/2024$761,558
BRUNSWICK CORP/DE 4.625% 05/15/2021$761,250
ARQIVA BROADCAST FINANCE PLC 9.5% 03/31/2020$760,984
POST HOLDINGS INC 6% 12/15/2022$757,509
RENT-A-CENTER INC/TX 6.625% 11/15/2020$754,163
PRIME SECURITY SERVICES BORROWER LLC / PRIME FINANCE INC 9.25 05/15/2023$750,600
ENCORE CREDIT RECEIVABLES TRUST 2005-3 1.1165% 10/25/2035$749,452
OASIS PETROLEUM INC 6.875% 03/15/2022$749,413
NETFLIX INC 5.875% 02/15/2025$737,100
PHI INC 5.25% 03/15/2019$736,870
CCOH SAFARI LLC 5.75% 02/15/2026$734,850
CBC AMMO LLC / CBC FINCO INC 7.25% 11/15/2021$731,000
COMMSCOPE INC 5.5% 06/15/2024$730,003
PARTY CITY HOLDINGS INC 6.125% 08/15/2023$729,959
NBTY INC 9% 10/01/2018$720,664
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.625% 12/01/2021$720,363
VOUGEOT BIDCO PLC 7.875% 07/15/2020$720,133
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.125% 05/01/2023$715,750
SHELF DRILLING HOLDINGS LTD 8.625% 11/01/2018$715,000
ELDORADO GOLD CORP 6.125% 12/15/2020$712,250
BIOSCRIP INC 8.875% 02/15/2021$709,650
HILTON WORLDWIDE FINANCE LLC / HILTON WO 5.625% 10/15/2021$709,040
COMMSCOPE INC 5% 06/15/2021$708,031
ZIGGO BOND FINANCE BV 4.625% 01/15/2025$706,532
WAMU MORTGAGE PASS-THROUGH CERTIFICATES .679% 11/25/2045$706,169
MDC PARTNERS INC 6.5 05/01/2024$705,908
CENTURY INTERMEDIATE HOLDING CO 2 9.75% 02/15/2019$699,488
VIMPELCOM HOLDINGS BV 5.95% 02/13/2023$698,600
VIRGIN MEDIA FINANCE PLC 6% 10/15/2024$696,150
TRONOX FINANCE LLC 6.375% 08/15/2020$684,500
NUMERICABLE-SFR SAS 6% 05/15/2022$683,434
BAYTEX ENERGY CORP 5.125% 06/01/2021$679,400
MICHAEL BAKER HOLDINGS LLC / MICAHEL BAK 8.875% 04/15/2019$676,882
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 6.5% 04/30/2021$674,245
CSMC SERIES 2015-8R 4.5% 06/27/2036$666,635
GOODYEAR TIRE & RUBBER CO/THE 7% 05/15/2022$665,738
MURRAY ENERGY CORP TL B2 1L 7.5% 06/30/2016$664,134
ZF NORTH AMERICA CAPITAL INC 4.75% 04/29/2025$661,375
NEPTUNE FINCO CORP 6.625% 10/15/2025$657,275
1011778 BC ULC / NEW RED FINANCE INC 6% 04/01/2022$652,050
CNO FINANCIAL GROUP INC 5.25% 05/30/2025$651,659
UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023$649,013
BEVERAGES & MORE INC 10% 11/15/2018$648,375
LAREDO PETROLEUM INC 5.625% 01/15/2022$642,875
TRIONISTA TOPCO GMBH 6.875% 04/30/2021$640,558
TEMPUR SEALY INTERNATIONAL INC 6.875% 12/15/2020$640,544
XPO LOGISTICS INC 6.5% 06/15/2022$636,220
GFL ENVIRONMENTAL INC 9.875 02/01/2021$636,000
AES CORP/VA 5.5 04/15/2025$634,725
MONITRONICS INTERNATIONAL INC 9.125% 04/01/2020$634,550
IMS HEALTH INC 4.125% 04/01/2023$633,914
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.375% 03/15/2020$632,344
TA MFG. LTD 3.625% 04/15/2023$630,912
T-MOBILE USA INC 6 04/15/2024$629,250
SUN PRODUCTS CORP/THE 7.75% 03/15/2021$625,350
SCIENTIFIC GAMES INTERNATIONAL INC 7% 01/01/2022$619,747
UNIVISION COMMUNICATIONS INC 6.75% 09/15/2022$618,765
SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025$617,625
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.625% 04/15/2023$614,090
RICE ENERGY INC 7.25% 05/01/2023$609,000
BANK OF AMERICA CORP 6.5% 10/23/2024$600,638
GROUP 1 AUTOMOTIVE INC 5.25% 12/15/2023$600,000
NCL CORP LTD 5.25% 11/15/2019$598,850
HCA INC 5.25 06/15/2026$598,719
TPF II LC LLC NEW TLB/TENASKA 5.5% 06/30/2016$598,326
ENERGIZER HOLDINGS INC 5.5% 06/15/2025$596,553
IASIS HEALTHCARE LLC / IASIS CAPITAL COR 8.375% 05/15/2019$595,200
UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025$594,750
CBRE SERVICES INC 5.25% 03/15/2025$594,126
EXAMWORKS GROUP INC 5.625% 04/15/2023$591,938
RANGE RESOURCES CORP 4.875 05/15/2025$591,344
ROCKIES EXPRESS PIPELINE LLC 6.875% 04/15/2040$591,180
CALUMET SPECIALTY PRODUCTS PARTNERS LP / 6.5% 04/15/2021$590,750
FRONTIER COMMUNICATIONS CORP 11% 09/15/2025$587,975
CALIFORNIA RESOURCES CORP 5.5% 09/15/2021$587,225
DENBURY RESOURCES INC 5.5% 05/01/2022$585,988
CLIFFS NATURAL RESOURCES INC 8.25% 03/31/2020$581,175
DAVITA HEALTHCARE PARTNERS INC 5.125% 07/15/2024$581,169
FORUM ENERGY TECHNOLOGIES INC 6.25% 10/01/2021$581,025
RED OAK POWER LLC 9.2% 11/30/2029$581,000
JONES ENERGY HOLDINGS LLC / JONES ENERGY 6.75% 04/01/2022$579,600
GREYSTAR REAL ESTATE PARTNERS LLC 8.25% 12/01/2022$574,750
INTERFACE SECURITY SYSTEMS HOLDINGS INC 9.25% 01/15/2018$574,513
COMPILER FINANCE SUB INC 7% 05/01/2021$574,200
VWR FUNDING INC 4.625% 04/15/2022$573,527
PULTEGROUP INC 5.5% 03/01/2026$570,625
DAVITA HEALTHCARE PARTNERS INC 5% 05/01/2025$566,413
CENTENE ESCROW CORP 6.125% 02/15/2024$565,763
HERCULES OFFSH TL IL EXIT (FOR 10.5% 06/30/2016$565,307
T-MOBILE USA INC 6.5% 01/15/2026$563,788
L BRANDS INC 6.875 11/01/2035$563,550
MPLX LP 4.875% 06/01/2025$561,462
HOLDING MEDI-PARTENAIRES SAS 7% 05/15/2020$560,828
ALTICE US FINANCE I CORP 5.5 05/15/2026$556,875
SPECTRUM BRANDS INC 5.75% 07/15/2025$554,138
LAMAR MEDIA CORP 5.75% 02/01/2026$551,200
GOODYEAR TIRE & RUBBER CO/THE 5.125% 11/15/2023$549,875
LEVI STRAUSS & CO 5% 05/01/2025$549,450
TENET HEALTHCARE CORP 4.75% 06/01/2020$548,550
TESORO LOGISTICS LP / TESORO LOGISTICS FINANCE CORP 5.5 10/15/2019$548,375
SERVICE CORP INTERNATIONAL/US 5.375% 05/15/2024$545,700
HEALTHSOUTH CORP 5.75% 11/01/2024$544,688
OPE KAG FINANCE SUB INC 7.875% 07/31/2023$544,575
QEP RESOURCES INC 6.875% 03/01/2021$537,300
KLOECKNER PENTAPLAST OF AMERICA INC 7.125% 11/01/2020$535,235
MGM RESORTS INTERNATIONAL 6.625% 12/15/2021$535,000
SPRINT COMMUNICATIONS INC 7% 08/15/2020$534,400
GLP CAPITAL LP / GLP FINANCING II INC 5.375 04/15/2026$532,950
DYNEGY INC 6.75% 11/01/2019$532,088
ROCKIES EXPRESS PIPELINE LLC 5.625% 04/15/2020$528,675
EP ENERGY LLC / EVEREST ACQUISITION FINA 9.375% 05/01/2020$525,504
WILLIAM CARTER CO/THE 5.25% 08/15/2021$523,500
WILLIAM LYON HOMES INC 8.5 11/15/2020$521,250
FRONTIER COMMUNICATIONS CORP 7.125% 01/15/2023$520,650
STEEL DYNAMICS INC 5.125% 10/01/2021$518,888
HUDBAY MINERALS INC 9.5% 10/01/2020$517,275
VISTA OUTDOOR INC 5.875% 10/01/2023$516,950
SS&C TECHNOLOGIES HOLDINGS INC 5.875% 07/15/2023$516,038
T-MOBILE USA INC 6.464% 04/28/2019$511,875
CARROLS RESTAURANT GROUP INC 8% 05/01/2022$508,775
DPX HOLDINGS BV 7.5% 02/01/2022$508,125
GOLDMAN SACHS GROUP INC/THE 5.15% 05/22/2045$505,757
DAVITA HEALTHCARE PARTNERS INC 5.75% 08/15/2022$504,600
ALLIANCE ONE INTERNATIONAL INC 9.875% 07/15/2021$501,750
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.25% 04/15/2021$501,250
LEVEL 3 FINANCING INC 5.125% 05/01/2023$500,413
ANGLO AMERICAN CAPITAL PLC 4.875 05/14/2025$498,312
AUSDRILL FINANCE PTY LTD 6.875% 11/01/2019$497,350
STANDARD INDUSTRIES INC/NJ 5.5% 02/15/2023$494,088
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.625% 12/01/2025$493,350
CSC HOLDINGS LLC 5.25% 06/01/2024$492,750
FIDELITY & GUARANTY LIFE HOLDINGS INC 6.375% 04/01/2021$492,450
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 .999% 03/25/2037$488,277
ESH HOSPITALITY INC 5.25% 05/01/2025$485,713
NRG REMA LLC 9.681% 07/02/2026$480,625
MATTERHORN TELECOM SA 3.875% 05/01/2022$479,791
ROYAL BANK OF SCOTLAND GROUP PLC 7.648% 09/30/2031$479,700
CALUMET SPECIALTY PRODUCTS PARTNERS LP / CALUMET FINANCE CORP 11.5 01/15/2021$479,600
WESCO DISTRIBUTION INC 5.375% 12/15/2021$479,400
UNITED RENTALS NORTH AMERICA INC 5.5% 07/15/2025$479,143
NAVIENT CORP 5.875% 03/25/2021$474,375
TEINE ENERGY LTD 6.875% 09/30/2022$474,075
TMS INTERNATIONAL CORP 7.625% 10/15/2021$472,350
TMX FINANCE LLC / TITLEMAX FINANCE CORP 8.5% 09/15/2018$471,000
CONTINENTAL RESOURCES INC/OK 4.9 06/01/2044$469,800
CAROLINA BEVERAGE GROUP LLC / CAROLINA B 10.625% 08/01/2018$467,950
RSP PERMIAN INC 6.625 10/01/2022$466,875
ACTIVISION BLIZZARD INC 5.625% 09/15/2021$464,200
ABN AMRO BANK NV 4.75% 07/28/2025$461,642
BLUESCOPE STEEL FINANCE LTD/BLUESCOPE STEEL FINANCE USA LLC 6.5 05/15/2021$460,125
JACK COOPER HOLDINGS CORP 10.25% 06/01/2020$457,200
GRIFOLS WORLDWIDE OPERATIONS LTD 5.25% 04/01/2022$455,400
ARCELORMITTAL 6.125% 06/01/2025$451,950
MURPHY OIL USA INC 6% 08/15/2023$451,767
NELNET STUDENT LOAN TRUST 2008-3 1.979% 11/25/2024$451,328
GEO GROUP INC/THE 5.875% 10/15/2024$451,000
NBTY INC 7.625 05/15/2021$451,000
EAGLE SPINCO INC 4.625% 02/15/2021$449,438
LANDRY'S INC 9.375% 05/01/2020$447,313
CHOCTAW RESORT DEVELOPMENT ENTERPRISE 7.25% 11/15/2019$442,935
BOPARAN FINANCE PLC 5.5% 07/15/2021$441,852
PRIDE INTERNATIONAL INC 7.875 08/15/2040$438,813
FRONTIER COMMUNICATIONS CORP 7.625% 04/15/2024$437,423
LMI AEROSPACE INC 7.375% 07/15/2019$436,500
WILLIAMS COS INC/THE 4.55% 06/24/2024$433,435
VIRGIN MEDIA FINANCE PLC 4.875% 02/15/2022$431,875
CHESAPEAKE ENERGY CORP 4.875% 04/15/2022$423,750
FIRST DATA CORP 5.75% 01/15/2024$422,781
MASTR ASSET BACKED SECURITIES TRUST 2006 .489% 12/25/2035$421,744
SLM STUDENT LOAN TRUST 2008-5 1.995% 07/25/2023$421,663
ANGLO AMERICAN CAPITAL PLC 3.5% 03/28/2022$421,473
GIBSON BRANDS INC 8.875% 08/01/2018$420,000
VIKING CRUISES LTD 6.25% 05/15/2025$418,600
ECO SERVICES OPERATIONS LLC/ECO FINANCE 8.5% 11/01/2022$417,100
ALLY FINANCIAL INC 5.125% 09/30/2024$415,244
MOTO FINANCE PLC 6.375% 09/01/2020$414,373
SPEEDWAY MOTORSPORTS INC 5.125% 02/01/2023$414,000
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 8.25% 10/15/2023$409,575
BLUE RACER MIDSTREAM LLC / BLUE RACER FI 6.125% 11/15/2022$409,400
SIG COMBIBLOC HOLDINGS SCA 7.75% 02/15/2023$406,679
AMERICAN AXLE & MANUFACTURING INC 6.625% 10/15/2022$403,750
ANGLO AMERICAN CAPITAL PLC 1.75% 04/03/2018$400,924
CIT GROUP INC 5.5% 02/15/2019$399,000
FLORIDA EAST COAST HOLDINGS CORP 6.75% 05/01/2019$395,850
IMMUCOR INC 11.125% 08/15/2019$393,800
INTERXION HOLDING NV 6 07/15/2020$393,716
CREDIT AGRICOLE SA 8.125% 12/23/2025$393,658
WHITING PETROLEUM CORP 5.75% 03/15/2021$393,625
MAGNUM HUNTER RESOURCES 9% 05/31/2016$393,307
PLANTRONICS INC 5.5% 05/31/2023$391,950
PANDA TEMPLE POWER TERM LOAN 03/15 7.25% 06/30/2016$389,813
PRECISION DRILLING CORP 6.5% 12/15/2021$389,250
HSBC HOLDINGS PLC 6.375% 09/17/2024$388,475
TECK RESOURCES LTD 3 03/01/2019$385,350
BWAY HOLDING CO 9.125% 08/15/2021$385,000
BARMINCO FINANCE PTY LTD 9% 06/01/2018$382,388
TENNECO INC 5.375 12/15/2024$382,338
GENERAL MOTORS CO 5.2% 04/01/2045$380,827
FMG RESOURCES AUGUST 2006 PTY LTD 9.75% 03/01/2022$380,268
WESTERN DIGITAL CORP 10.5 04/01/2024$380,250
CROWNROCK LP / CROWNROCK FINANCE INC 7.75% 02/15/2023$379,250
B&G FOODS INC 4.625% 06/01/2021$377,863
HSBC HOLDINGS PLC 6.375% 03/30/2025$377,676
GAMESTOP CORP 6.75 03/15/2021$375,345
COEUR MINING INC 7.875% 02/01/2021$373,800
VIRGIN MEDIA FINANCE PLC 6.375% 04/15/2023$372,600
GREATBATCH LTD 9.125% 11/01/2023$369,075
NAVIENT CORP 5% 10/26/2020$368,638
WPX ENERGY INC 8.25% 08/01/2023$367,575
OI SA 5.75% 02/10/2022$367,500
VIACOM INC 4.375% 03/15/2043$365,695
CCO SAFARI II LLC 6.484% 10/23/2045$355,421
REGIONALCARE HOSPITAL PARTNERS HOLDINGS INC 8.25 05/01/2023$354,450
DUFRY FINANCE SCA 5.5% 10/15/2020$354,450
BHP BILLITON FINANCE USA LTD 6.75% 10/19/2075$353,090
MAGNUM HUNTER RESOURCES CORP 9.75% 05/15/2020$352,000
NEIMAN MARCUS GROUP LTD LLC 8 10/15/2021$350,000
ENSCO PLC 5.75 10/01/2044$347,750
VALEANT PHARMACEUTICALS INTERNATIONAL 6.375% 10/15/2020$346,275
TIME WARNER CABLE INC 7.3% 07/01/2038$345,249
HCA INC 5.875% 05/01/2023$343,484
DS SERVICES OF AMERICA INC 10% 09/01/2021$342,000
L BRANDS INC 6.95% 03/01/2033$341,550
COVERIS HOLDINGS SA 7.875% 11/01/2019$337,750
LANTHEUS MEDICAL IMAGING TL B 7% 06/30/2016$337,725
T-MOBILE USA INC 6% 03/01/2023$337,200
VALEANT PHARMACEUTICALS INTERNATIONAL IN 6.125% 04/15/2025$335,152
WALTER INVESTMENT MANAGEMENT CORP 7.875% 12/15/2021$333,750
CARRIZO OIL & GAS INC 7.5% 09/15/2020$333,300
CTP TRANSPORTATION PRODUCTS LLC / CTP FI 8.25% 12/15/2019$331,500
SM ENERGY CO 5.625% 06/01/2025$329,550
WINDSTREAM SERVICES LLC 7.75% 10/15/2020$327,416
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 5.5% 08/15/2022$326,000
CGG SA 6.5% 06/01/2021$324,000
CONCHO RESOURCES INC 6.5% 01/15/2022$323,950
GAMESTOP CORP 5.5% 10/01/2019$323,813
ALTICE FINANCING SA 5.25% 02/15/2023$323,246
CHESAPEAKE ENERGY CORP 5.75 03/15/2023$322,050
HCA INC 5.25% 04/15/2025$321,625
KRAFT HEINZ FOODS CO 7.125% 08/01/2039$321,158
BERRY PETROLEUM CO LLC 6.375% 09/15/2022$320,320
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 7.5% 07/01/2021$320,250
PSPC ESCROW CORP 6% 02/01/2023$320,102
PSPC ESCROW CORP 6% 02/01/2023$320,102
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.25% 05/01/2023$318,450
GENWORTH HOLDINGS INC 7.7% 06/15/2020$314,563
TEMPUR SEALY INTERNATIONAL INC 5.625 10/15/2023$313,500
MICRON TECHNOLOGY INC 5.5% 02/01/2025$309,700
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.5% 03/01/2023$307,800
JLL/DELTA DUTCH PLEDGECO BV 9.5% 05/01/2020$307,675
GENESIS ENERGY LP / GENESIS ENERGY FINAN 6% 05/15/2023$306,900
NCL CORP LTD 4.625% 11/15/2020$306,375
DOWNSTREAM DEVELOPMENT AUTHORITY OF THE 10.5% 07/01/2019$306,000
ALCOA INC 5.95% 02/01/2037$304,195
SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023$303,750
HARDWOODS ACQUISITION INC 7.5% 08/01/2021$302,100
ROSE ROCK MIDSTREAM LP / ROSE ROCK FINANCE CORP 5.625% 11/15/2023$302,100
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENL 5.25% 08/04/2045$301,642
MODULAR SPACE CORP 10.25% 01/31/2019$299,520
STANDARD INDUSTRIES INC/NJ 5.125% 02/15/2021$297,825
CEMEX SAB DE CV 6.125% 05/05/2025$295,500
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 4.875% 04/15/2020$294,325
STEEL DYNAMICS INC 5.5% 10/01/2024$290,344
RICE ENERGY INC 6.25% 05/01/2022$288,550
SANCHEZ ENERGY CORP 6.125% 01/15/2023$285,950
CENTRAL GARDEN & PET CO 6.125% 11/15/2023$284,850
KRAFT HEINZ FOODS CO 4.875% 02/15/2025$284,573
CSC HOLDINGS LLC 6.75% 11/15/2021$284,453
WILLIAMS COS INC/THE 5.75 06/24/2044$282,600
LEVEL 3 FINANCING INC 5.375% 08/15/2022$282,219
AMAG PHARMACEUTICALS INC 7.875% 09/01/2023$279,775
TRONOX FINANCE LLC 7.5% 03/15/2022$279,725
TRIBUNE MEDIA CO 5.875% 07/15/2022$279,300
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.625% 10/15/2023$273,325
NELNET STUDENT LOAN TRUST 2005-4 0.4992% 03/22/2032$272,838
GREEKTOWN HOLDINGS LLC/GREEKTOWN MOTHERS 8.875% 03/15/2019$270,400
CELANESE US HOLDINGS LLC 4.625% 11/15/2022$268,970
MEG ENERGY CORP 6.5% 03/15/2021$268,600
JBS USA LLC / JBS USA FINANCE INC 7.25 06/01/2021$267,800
BNP PARIBAS SA 7.375% 08/19/2025$266,963
SPRINT COMMUNICATIONS INC 11.5% 11/15/2021$265,350
IHEARTCOMMUNICATIONS INC 14% 02/01/2021$263,459
BARCLAYS BANK PLC 7.625% 11/21/2022$262,050
BARCLAYS PLC 8.25% 12/15/2018$261,572
FRESENIUS MEDICAL CARE US FINANCE II INC 4.75% 10/15/2024$260,625
VALEANT PHARMACEUTICALS INTERNATIONAL INC 7.5% 07/15/2021$257,600
AMC ENTERTAINMENT INC 5.75% 06/15/2025$257,500
ARCELORMITTAL 6.25% 03/01/2021$256,875
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 7.625 04/22/2046$256,360
CONSTELLATION BRANDS INC 4.75% 12/01/2025$255,900
ANGLO AMERICAN CAPITAL PLC 3.625 05/14/2020$255,825
PARSLEY ENERGY LLC / PARSLEY FINANCE COR 7.5% 02/15/2022$255,000
PARAGON OFFSHORE PLC 6.75 07/15/2022$252,525
LANDRY'S HOLDINGS II INC 10.25% 01/01/2018$252,500
MICHAEL BAKER INTERNATIONAL LLC / CDL ACQUISITION CO INC 8.25 10/15/2018$250,900
LAMAR MEDIA CORP 5% 05/01/2023$250,800
NGPL PIPECO LLC 7.119% 12/15/2017$249,000
TENET HEALTHCARE CORP 4.375% 10/01/2021$246,838
USG CORP 5.5% 03/01/2025$244,375
ALLY FINANCIAL INC 4.625% 05/19/2022$241,463
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.75% 01/15/2023$240,795
ALLY FINANCIAL INC 8% 11/01/2031$240,500
EMPIRE TODAY LLC / EMPIRE TODAY FINANCE 11.375% 02/01/2017$237,600
CNO FINANCIAL GROUP INC 4.5% 05/30/2020$237,475
SM ENERGY CO 5% 01/15/2024$234,500
AES CORP/VA 5.5% 03/15/2024$234,025
GOODYEAR DUNLOP TIRES EUROPE BV 3.75 12/15/2023$229,585
EP ENERGY LLC / EVEREST ACQUISITION FINA 6.375% 06/15/2023$226,200
BOPARAN FINANCE PLC 4.375 07/15/2021$226,109
ARGOS MERGER SUB INC 7.125% 03/15/2023$225,500
ROCKIES EXPRESS PIPELINE LLC 7.5% 07/15/2038$225,000
CARMIKE CINEMAS INC 6% 06/15/2023$223,125
FREEPORT-MCMORAN INC 4% 11/14/2021$222,500
MURRAY ENERGY CORP 11.25% 04/15/2021$222,300
BOYD GAMING CORP 6.375 04/01/2026$215,775
TOLL BROTHERS FINANCE CORP 6.75% 11/01/2019$215,175
RESOLUTE FOREST PRODUCTS INC 5.875% 05/15/2023$212,100
AMERICAN AXLE & MANUFACTURING INC 6.25% 03/15/2021$208,750
LAREDO PETROLEUM INC 7.375 05/01/2022$206,850
ARGENTINE REPUBLIC GOVERNMENT INTERNATIONAL BOND 6.875 04/22/2021$206,500
FREEPORT-MCMORAN INC 5.45 03/15/2043$203,850
VIRGIN MEDIA SECURED FINANCE PLC 5.5 08/15/2026$201,626
PETROBRAS GLOBAL FINANCE BV 6.85% 06/05/2115$201,150
WHITING PETROLEUM CORP 6.25% 04/01/2023$201,000
ALTICE FINANCING SA 7.5 05/15/2026$200,750
CEC ENTERTAINMENT INC 8% 02/15/2022$199,100
CARRIZO OIL & GAS INC 6.25% 04/15/2023$197,825
MEG ENERGY CORP 7% 03/31/2024$197,500
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.375% 05/01/2025$194,988
WPX ENERGY INC 5.25% 09/15/2024$194,810
NUMERICABLE-SFR SAS 6.25% 05/15/2024$194,250
NGPL PIPECO LLC 7.768 12/15/2037$194,250
NWH ESCROW CORP 7.5% 08/01/2021$192,500
ALTICE LUXEMBOURG SA 6.25 02/15/2025$192,403
ANGLO AMERICAN CAPITAL PLC 4.125 09/27/2022$191,625
NAVIENT CORP 5.5% 01/15/2019$189,288
PACIFIC DRILLING V LTD 7.25% 12/01/2017$187,813
PQ CORP 6.75 11/15/2022$186,075
WILLIAMS COS INC/THE 3.7 01/15/2023$185,854
CLOUD PEAK ENERGY RESOURCES LLC / CLOUD 6.375% 03/15/2024$185,500
PANDA TEMPLE POWER II ADVANCE 7.25% 06/30/2016$183,000
LIFEPOINT HEALTH INC 5.875% 12/01/2023$173,250
LINN ENERGY LLC / LINN ENERGY FINANCE CORP 12% 12/15/2020$172,185
COMMSCOPE HOLDING CO INC 7.375% 06/01/2020$171,600
POST HOLDINGS INC 7.75% 03/15/2024$169,338
FREEPORT-MCMORAN INC 3.875 03/15/2023$168,500
WOLVERINE WORLD WIDE INC 6.125% 10/15/2020$166,600
NEOVIA LOGISTICS INTERMEDIATE HOLDINGS LLC / LOGISTICS INTERMEDIATE FINANCE CORP 10 02/15/2018$163,875
SPRINT COMMUNICATIONS INC 6% 11/15/2022$162,912
WELLS FARGO COMMERCIAL MORTGAGE TRUST 20 4.62% 12/15/2047$160,096
CHESAPEAKE ENERGY CORP 6.875 11/15/2020$159,900
SEALED AIR CORP 4.5% 09/15/2023$159,573
COMM 2015-LC21 MORTGAGE TRUST 3.25% 07/10/2048$159,431
WILLIAMS COS INC/THE 7.5% 01/15/2031$158,950
CALIFORNIA RESOURCES CORP 8% 12/15/2022$158,413
GLOBE LUXEMBOURG SCA 9.625% 05/01/2018$157,000
FRONTIER COMMUNICATIONS CORP 6.875% 01/15/2025$154,706
JPMBB COMMERCIAL MORTGAGE SECURITIES TRU 4.273% 08/15/2048$153,768
FREEPORT-MCMORAN INC 3.55 03/01/2022$151,200
GENWORTH HOLDINGS INC 4.9% 08/15/2023$151,200
R&R ICE CREAM PLC 5.5% 05/15/2020$150,498
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 6.75% 05/20/2020$150,480
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.875% 04/15/2023$150,375
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 3% 05/15/2048$149,453
CONSTELLATION BRANDS INC 4.75% 11/15/2024$149,100
NRG ENERGY INC 6.625% 03/15/2023$148,125
MATTERHORN TELECOM SA 3.625% 05/01/2022$148,057
RENT-A-CENTER INC/TX 4.75% 05/01/2021$146,925
KRONOS ACQUISITION HOLDINGS INC 9% 08/15/2023$145,875
ENDO FINANCE LLC / ENDO FINCO INC 5.375% 01/15/2023$139,563
CENTURYLINK INC 5.8% 03/15/2022$138,775
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL 6.75% 02/01/2022$136,155
CIT GROUP INC 5% 08/01/2023$135,525
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.125 06/15/2019$135,100
EV ENERGY PARTNERS LP / EV ENERGY FINANCE CORP 8% 04/15/2019$133,000
ULTRA PETROLEUM CORP 6.125% 10/01/2024$132,525
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.772724% 08/15/2048$131,605
PINNACLE ENTERTAINMENT INC 5.625 05/01/2024$130,163
STONE ENERGY CORP 7.5% 11/15/2022$129,938
GENERAL MOTORS CO 6.6% 04/01/2036$129,087
OASIS PETROLEUM INC 6.5% 11/01/2021$128,800
OI EUROPEAN GROUP BV 4.875% 03/31/2021$127,387
LGE HOLDCO VI BV 7.125% 05/15/2024$125,961
GRAPHIC PACKAGING INTERNATIONAL INC 4.875 11/15/2022$123,900
SABINE PASS LIQUEFACTION LLC 5.625% 03/01/2025$122,344
NCR CORP 6.375% 12/15/2023$120,175
TECHNIPLAS LLC 10% 05/01/2020$119,850
SM ENERGY CO 6.125% 11/15/2022$109,200
CONTINENTAL RESOURCES INC/OK 3.8% 06/01/2024$102,900
MORGAN STANLEY RESECURITIZATION TRUST 20 .424% 10/26/2046$95,729
NETFLIX INC 5.5% 02/15/2022$94,500
KAISER ALUMINUM CORP 5.875 05/15/2024$92,363
CASCADES INC 5.75 07/15/2023$86,175
FMG RESOURCES PTY LTD LOAN 4.25% 05/20/2016$84,413
MEG ENERGY CORP 6.375% 01/30/2023$84,357
MALLINCKRODT INTERNATIONAL FINANCE SA 4.75% 04/15/2023$82,041
GARDA WORLD SECURITY CORP 7.25% 11/15/2021$81,250
CGG SA 6.875% 01/15/2022$81,000
ENSCO PLC 4.7% 03/15/2021$75,488
LAREDO PETROLEUM INC 6.25% 03/15/2023$75,000
MICRON TECHNOLOGY INC 5.25% 08/01/2023$73,171
ENSCO PLC 5.2% 03/15/2025$73,000
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.5% 04/15/2025$72,600
COMMSCOPE INC 4.375% 06/15/2020$72,450
CONTINENTAL RESOURCES INC/OK 4.5 04/15/2023$71,850
CIT GROUP INC 5.375% 05/15/2020$63,075
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.875% 04/01/2024$63,000
ACADIA HEALTHCARE CO INC 5.625% 02/15/2023$61,650
TENET HEALTHCARE CORP 4.5% 04/01/2021$61,050
GENERAL MOTORS CO 6.75% 04/01/2046$60,552
ALCOA INC 5.125 10/01/2024$58,725
VALEANT PHARMACEUTICALS INTERNATIONAL 7.25% 07/15/2022$53,250
LEVEL 3 FINANCING INC 5.375% 01/15/2024$50,875
CONTINENTAL RESOURCES INC/OK 5% 09/15/2022$46,938
CALIFORNIA RESOURCES CORP 6% 11/15/2024$46,063
BERRY PETROLEUM CO LLC 6.75 11/01/2020$45,000
PULTEGROUP INC 4.25% 03/01/2021$40,900
NOVELIS INC 8.375% 12/15/2017$40,800
INTERNATIONAL LEASE FINANCE CORP 8.625% 01/15/2022$36,413
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$34,650
DISH DBS CORP 6.75% 06/01/2021$30,981
AXIALL CORP 4.875% 05/15/2023$19,850
ANCESTRY.COM INC 11% 12/15/2020$10,950
GUITAR CENTER INC 6.5 04/15/2019$9,125
FREEPORT-MCMORAN INC 3.1 03/15/2020$9,050
SEVENTY SEVEN ENERGY INC 6.5% 07/15/2022$8,788
CHESAPEAKE ENERGY CORP 5.375 06/15/2021$5,750
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$10,293,624
 
Other
Holding NameMarket Value
USD$177,023
USD$114,637
US 5YR NOTE (CBT) BOND JUN16 (FVM6) COMDTY$62,097
EURO$60,398
BRITISH POUND$4,383
CURRENCY CONTRACT$3,569
USD CCP COLL IM BAML$2,008
CURRENCY CONTRACT$1,615
CURRENCY CONTRACT$-35
CURRENCY CONTRACT$-438
CURRENCY CONTRACT$-2,591
CURRENCY CONTRACT$-4,895
CURRENCY CONTRACT$-4,920
US 2YR NOTE (CBT) BOND JUN16 (TUM6) COMDTY$-7,167
CURRENCY CONTRACT$-79,190
CURRENCY CONTRACT$-151,234
All Holdings As of Mar 31, 2016
Equity
Holding NameMarket Value
GMAC CAPITAL TRUST I$1,099,886
HERCULES OFFSHORE INC$29,618
REX ENERGY CORP$17,000
 
Fixed Income
Holding NameMarket Value
SPRINT CORP 7.25% 09/15/2021$4,262,719
HCA INC 5.375% 02/01/2025$2,970,778
NAVIENT CORP 4.875% 06/17/2019$2,559,038
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 4.949% 10/25/2024$2,521,301
DISH DBS CORP 5.875% 07/15/2022$2,493,750
FIRST DATA CORP 7% 12/01/2023$2,351,900
SANMINA CORP 4.375% 06/01/2019$2,255,000
CIT GROUP INC 5% 08/15/2022$2,064,243
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.5% 05/15/2021$2,051,240
LEVEL 3 FINANCING INC 6.125% 01/15/2021$1,968,750
CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022$1,928,438
MIRAN MID-ATLANTIC SERIES C PASS THROUGH 10.06% 12/30/2028$1,892,567
CONVATEC FINANCE INTERNATIONAL SA 8.25% 01/15/2019$1,889,313
FLEXI-VAN LEASING INC 7.875% 08/15/2018$1,820,850
TENET HEALTHCARE CORP 6.75% 06/15/2023$1,799,875
NEUBERGER BERMAN GROUP LLC / NEUBERGER B 5.875% 03/15/2022$1,770,125
UNITED RENTALS NORTH AMERICA INC 6.125% 06/15/2023$1,753,375
FIRST DATA CORP 5% 01/15/2024$1,733,625
ASHTEAD CAPITAL INC 6.5% 07/15/2022$1,704,798
NOVELIS INC 8.75% 12/15/2020$1,688,810
PRESTIGE BRANDS INC 5.375% 12/15/2021$1,683,963
INTELSAT JACKSON HOLDINGS SA 8 02/15/2024$1,682,975
NEIMAN MARCUS GROUP LTD LLC 9.5% 10/15/2021$1,659,827
BALL CORP 4.375% 12/15/2023$1,653,485
WMG ACQUISITION CORP 5.625% 04/15/2022$1,643,263
NRG ENERGY INC 6.25% 07/15/2022$1,636,250
DOLLAR TREE INC 5.75% 03/01/2023$1,634,775
INTELSAT JACKSON HOLDINGS SA 7.5% 04/01/2021$1,603,200
T-MOBILE USA INC 6.633% 04/28/2021$1,575,000
BUILDING MATERIALS CORP OF AMERICA 6% 10/15/2025$1,567,188
MORGAN STANLEY RESECURITIZATION TRUST 2015-R6 0.448% 07/26/2045$1,531,653
SPRINT CAPITAL CORP 6.9% 05/01/2019$1,526,875
SPECTRUM BRANDS INC 6.625% 11/15/2022$1,504,442
IRON MOUNTAIN EUROPE PLC 6.125% 09/15/2022$1,483,305
CLEAN HARBORS INC 5.25% 08/01/2020$1,452,159
ALTICE FINANCING SA 6.625% 02/15/2023$1,450,800
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 6.75% 03/15/2024$1,446,688
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.75% 06/01/2022$1,377,138
ENDO FINANCE LLC 5.75% 01/15/2022$1,376,363
NOMURA RESECURITIZATION TRUST 2015-6R .389% 05/26/2046$1,366,957
SUMMIT MATERIALS LLC / SUMMIT MATERIALS FINANCE CORP 6.125% 07/15/2023$1,360,875
CAPSUGEL SA 7% 05/15/2019$1,344,178
ACADIA HEALTHCARE CO INC 5.125% 07/01/2022$1,339,800
SUBURBAN PROPANE PARTNERS LP/SUBURBAN EN 5.5% 06/01/2024$1,333,750
CCO SAFARI II LLC 4.908% 07/23/2025$1,299,323
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 7% 05/20/2022$1,297,800
1011778 BC ULC / NEW RED FINANCE INC 4.625% 01/15/2022$1,291,320
TENET HEALTHCARE CORP 8.125% 04/01/2022$1,281,850
CASCADES INC 5.5% 07/15/2022$1,266,606
HEALTHSOUTH CORP 5.125% 03/15/2023$1,256,569
R&R PIK PLC 9.25% 05/15/2018$1,224,267
UNITED AIRLINES 2013-1 CLASS B PASS THRO 5.375% 02/15/2023$1,214,118
CHURCHILL DOWNS INC 5.375% 12/15/2021$1,210,950
PACTIV LLC 8.375% 04/15/2027$1,209,000
DJO FINCO INC / DJO FINANCE LLC / DJO FI 8.125% 06/15/2021$1,192,600
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.625% 07/01/2022$1,187,550
ENVISION HEALTHCARE CORP 5.125% 07/01/2022$1,173,000
FIRST QUALITY FINANCE CO INC 4.625% 05/15/2021$1,164,000
MALLINCKRODT INTERNATIONAL FINANCE SA / 5.75% 08/01/2022$1,139,288
VALEANT PHARMACEUTICALS INTERNATIONAL 6.75% 08/15/2021$1,135,700
CONSTELLATION BRANDS INC 6% 05/01/2022$1,130,000
HCA INC 5.875% 02/15/2026$1,125,425
UNIVERSAL HOSPITAL SERVICES INC 7.625% 08/15/2020$1,116,000
WIND ACQUISITION FINANCE SA 7% 04/23/2021$1,115,682
PILGRIM'S PRIDE CORP 5.75% 03/15/2025$1,109,625
PINNACLE FOODS FINANCE LLC / PINNACLE FO 4.875% 05/01/2021$1,101,275
REPERFORMING LOAN REMIC TRUST 2005-R2 8% 06/25/2035$1,092,843
LIFEPOINT HEALTH INC 5.5% 12/01/2021$1,084,163
SIX FLAGS ENTERTAINMENT CORP 5.25% 01/15/2021$1,084,125
NUMERICABLE-SFR SAS 5.625% 05/15/2024$1,081,579
INGLES MARKETS INC 5.75% 06/15/2023$1,081,200
HCA HOLDINGS INC 6.25% 02/15/2021$1,080,000
BLUELINE RENTAL FINANCE CORP 7% 02/01/2019$1,074,450
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.344% 03/25/2037$1,070,607
JBS USA LLC / JBS USA FINANCE INC 7.25% 06/01/2021$1,061,060
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.875% 05/15/2023$1,056,925
ACCO BRANDS CORP 6.75% 04/30/2020$1,041,250
VIASAT INC 6.875% 06/15/2020$1,040,000
OASIS PETROLEUM INC 6.875% 01/15/2023$1,035,788
LEVEL 3 FINANCING INC 5.625% 02/01/2023$1,031,250
H&E EQUIPMENT SERVICES INC 7% 09/01/2022$1,030,200
COVANTA HOLDING CORP 6.375% 10/01/2022$1,025,100
OPEN TEXT CORP 5.625% 01/15/2023$1,025,000
NIELSEN FINANCE LLC / NIELSEN FINANCE CO 5% 04/15/2022$1,024,850
RITE AID CORP 6.125% 04/01/2023$1,021,200
DAVITA HEALTHCARE PARTNERS INC 5.75% 08/15/2022$1,016,075
NCR CORP 5.875% 12/15/2021$1,015,988
GOODYEAR TIRE & RUBBER CO/THE 7% 05/15/2022$1,015,875
MILACRON LLC / MCRON FINANCE CORP 7.75% 02/15/2021$1,012,875
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 3.286% 12/15/2019$987,500
QUICKEN LOANS INC 5.75% 05/01/2025$984,750
WORLDPAY FINANCE PLC 3.75% 11/15/2022$981,055
CSC HOLDINGS LLC 5.25% 06/01/2024$974,188
SBA COMMUNICATIONS CORP 4.875% 07/15/2022$970,519
COGENT COMMUNICATIONS GROUP INC 5.375% 03/01/2022$967,750
APEX TOOL GROUP LLC 7% 02/01/2021$965,775
CITIGROUP INC 5.95% 05/15/2025$963,750
WEST CORP 5.375% 07/15/2022$957,892
DARLING GLOBAL FINANCE BV 4.75% 05/30/2022$951,304
HUNTINGTON INGALLS INDUSTRIES INC 5% 12/15/2021$948,375
STUDIO CITY FINANCE LTD 8.5% 12/01/2020$947,050
SINCLAIR TELEVISION GROUP INC 5.375% 04/01/2021$947,025
CEDAR FAIR LP / CANADA'S WONDERLAND CO / 5.375% 06/01/2024$946,400
KCA DEUTAG UK FINANCE PLC 7.25% 05/15/2021$945,000
HD SUPPLY INC 5.75 04/15/2024$942,450
AURIS LUXEMBOURG II SA 8% 01/15/2023$939,536
HUB INTERNATIONAL LTD 7.875% 10/01/2021$938,125
AMSURG CORP 5.625% 07/15/2022$935,544
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 5% 10/01/2021$933,750
CITGO PETROLEUM CORP 6.25% 08/15/2022$931,200
DBP HOLDING CORP 7.75% 10/15/2020$930,750
UPCB FINANCE IV LTD 5.375% 01/15/2025$925,925
NRG YIELD OPERATING LLC 5.375% 08/15/2024$902,275
ZF NORTH AMERICA CAPITAL INC 4.5% 04/29/2022$895,781
DH SERVICES LUXEMBOURG SARL 7.75% 12/15/2020$893,250
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.75% 12/15/2023$891,338
SABINE PASS LIQUEFACTION LLC 5.625% 04/15/2023$888,150
ALLY FINANCIAL INC 7.5% 09/15/2020$886,890
HOMEVI SAS 6.875% 08/15/2021$885,856
JAGUAR HOLDING CO II / PHARMACEUTICAL PR 6.375% 08/01/2023$885,198
TELECOM ITALIA SPA 5.303% 05/30/2024$884,725
WATCO COS LLC / WATCO FINANCE CORP 6.375% 04/01/2023$882,000
VIRGIN MEDIA FINANCE PLC 7% 04/15/2023$869,613
CARLSON TRAVEL HOLDINGS INC 7.5% 08/15/2019$869,400
SPRINT COMMUNICATIONS INC 8.375% 08/15/2017$867,344
NUMERICABLE-SFR SAS 6% 05/15/2022$862,400
MEDIACOM BROADBAND LLC / MEDIACOM BROADB 5.5% 04/15/2021$859,563
NATURAL RESOURCE PARTNERS LP / NRP FINAN 9.125% 10/01/2018$858,038
TERRAFORM POWER OPERATING LLC 5.875% 02/01/2023$855,750
CCOH SAFARI LLC 5.75% 02/15/2026$850,750
CTR PARTNERSHIP LP / CARETRUST CAPITAL C 5.875% 06/01/2021$848,400
VWR FUNDING INC 4.625% 04/15/2022$844,412
AMERICAN AIRLINES 2013-2 CLASS B PASS TH 5.6% 01/15/2022$844,362
ANCESTRY.COM HOLDINGS LLC 10.375% 10/15/2018$843,150
CENTENE ESCROW CORP 5.625% 02/15/2021$841,225
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 6.375% 03/01/2024$840,713
SIMMONS FOODS INC 7.875% 10/01/2021$836,550
DENALI BORROWER LLC / DENALI FINANCE COR 5.625% 10/15/2020$835,326
ARDAGH PACKAGING FINANCE PLC 9.125% 10/15/2020$830,000
NEW COTAI LLC / NEW COTAI CAPITAL CORP 10.625% 05/01/2019$826,009
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$822,500
FMG RESOURCES AUGUST 2006 PTY LTD 9.75% 03/01/2022$822,050
BERRY PLASTICS CORP 5.5% 05/15/2022$819,844
SPIRIT AEROSYSTEMS INC 5.25% 03/15/2022$816,400
GULFPORT ENERGY CORP 6.625% 05/01/2023$808,775
CALPINE CORP 5.5% 02/01/2024$805,775
WOODSIDE HOMES CO LLC / WOODSIDE HOMES F 6.75% 12/15/2021$805,500
XPO LOGISTICS INC 6.5% 06/15/2022$800,525
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 4.25% 01/15/2022$790,647
FRONTIER COMMUNICATIONS CORP 10.5% 09/15/2022$786,994
SCIENTIFIC GAMES INTERNATIONAL INC 6.25% 09/01/2020$780,450
ALTICE LUXEMBOURG SA 7.25% 05/15/2022$779,302
CAESARS ENTERTAINMENT RESORT PROPERTIES 8% 10/01/2020$777,360
AMERICAN BUILDERS & CONTRACTORS SUPPLY C 5.625% 04/15/2021$776,250
TELENET FINANCE V LUXEMBOURG SCA 6.25% 08/15/2022$776,019
CENTURYLINK INC 5.625% 04/01/2025$772,925
CENTURYLINK INC 5.625% 04/01/2020$772,738
FRESENIUS MEDICAL CARE US FINANCE II INC 5.875% 01/31/2022$772,450
SEALED AIR CORP 4.5% 09/15/2023$769,533
PLASTIPAK HOLDINGS INC 6.5% 10/01/2021$769,300
CHEMOURS CO/THE 6.125% 05/15/2023$764,461
PORTAVENTURA ENTERTAINMENT BARCELONA BV 7.25% 12/01/2020$763,749
POST HOLDINGS INC 6% 12/15/2022$759,806
BRUNSWICK CORP/DE 4.625% 05/15/2021$759,375
WINDSTREAM SERVICES LLC 7.5% 04/01/2023$752,500
ARQIVA BROADCAST FINANCE PLC 9.5% 03/31/2020$743,504
INTREPID AVIATION GROUP HOLDINGS LLC / I 6.875% 02/15/2019$740,613
NETFLIX INC 5.875% 02/15/2025$740,250
GUITAR CENTER INC 9.625% 04/15/2020$739,350
RENT-A-CENTER INC/TX 6.625% 11/15/2020$735,150
COMMSCOPE INC 5.5% 06/15/2024$734,969
NBTY INC 9% 10/01/2018$723,506
MPLX LP 4.875% 12/01/2024$721,366
WAMU MORTGAGE PASS-THROUGH CERTIFICATES .679% 11/25/2045$718,522
ENCORE CREDIT RECEIVABLES TRUST 2005-3 1.1165% 10/25/2035$716,756
PARTY CITY HOLDINGS INC 6.125% 08/15/2023$714,113
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.125% 05/01/2023$714,000
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.875 02/15/2023$708,400
HILTON WORLDWIDE FINANCE LLC / HILTON WO 5.625% 10/15/2021$708,016
ELDORADO GOLD CORP 6.125% 12/15/2020$706,475
BIOSCRIP INC 8.875% 02/15/2021$705,500
FIRST QUANTUM MINERALS LTD 7.25% 05/15/2022$705,375
VOUGEOT BIDCO PLC 7.875% 07/15/2020$703,322
HOWARD HUGHES CORP/THE 6.875% 10/01/2021$702,900
COMMSCOPE INC 5% 06/15/2021$702,819
CENTURY INTERMEDIATE HOLDING CO 2 9.75% 02/15/2019$702,075
VIRGIN MEDIA FINANCE PLC 6% 10/15/2024$701,250
ZIGGO BOND FINANCE BV 4.625% 01/15/2025$696,964
MDC PARTNERS INC 6.5 05/01/2024$696,150
CHESAPEAKE ENERGY CORP 3.5388% 04/15/2019$686,875
VIMPELCOM HOLDINGS BV 5.95% 02/13/2023$684,698
PHI INC 5.25% 03/15/2019$676,400
IRON MOUNTAIN INC 6% 10/01/2020$676,000
SHELF DRILLING HOLDINGS LTD 8.625% 11/01/2018$675,000
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 6.5% 04/30/2021$674,707
CALUMET SPECIALTY PRODUCTS PARTNERS LP / 6.5% 04/15/2021$672,100
MICHAEL BAKER HOLDINGS LLC / MICAHEL BAK 8.875% 04/15/2019$670,800
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.625% 12/01/2021$669,663
NAVIOS MARITIME ACQUISITION CORP / NAVIO 8.125% 11/15/2021$667,500
CSMC SERIES 2015-8R 4.5% 06/27/2036$666,536
CBC AMMO LLC / CBC FINCO INC 7.25% 11/15/2021$662,200
NEPTUNE FINCO CORP 6.625% 10/15/2025$661,027
1011778 BC ULC / NEW RED FINANCE INC 6% 04/01/2022$656,775
ZF NORTH AMERICA CAPITAL INC 4.75% 04/29/2025$649,188
CNO FINANCIAL GROUP INC 5.25% 05/30/2025$647,325
TEMPUR SEALY INTERNATIONAL INC 6.875% 12/15/2020$641,300
UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023$641,000
TRIONISTA TOPCO GMBH 6.875% 04/30/2021$638,096
BEVERAGES & MORE INC 10% 11/15/2018$630,875
FORUM ENERGY TECHNOLOGIES INC 6.25% 10/01/2021$627,125
IMS HEALTH INC 4.125% 04/01/2023$623,602
SCIENTIFIC GAMES INTERNATIONAL INC 7% 01/01/2022$620,125
TRONOX FINANCE LLC 6.375% 08/15/2020$619,000
UNIVISION COMMUNICATIONS INC 6.75% 09/15/2022$618,765
IASIS HEALTHCARE LLC / IASIS CAPITAL COR 8.375% 05/15/2019$614,575
AES CORP/VA 5.5 04/15/2025$611,100
BAYTEX ENERGY CORP 5.125% 06/01/2021$610,600
SUN PRODUCTS CORP/THE 7.75% 03/15/2021$610,500
T-MOBILE USA INC 6 04/15/2024$609,000
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.625% 04/15/2023$606,728
IMMUCOR INC 11.125% 08/15/2019$601,250
SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025$600,850
ENERGIZER HOLDINGS INC 5.5% 06/15/2025$599,463
GROUP 1 AUTOMOTIVE INC 5.25% 12/15/2023$595,500
NCL CORP LTD 5.25% 11/15/2019$594,500
UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025$594,000
SANCHEZ ENERGY CORP 7.75% 06/15/2021$592,500
TA MFG. LTD 3.625% 04/15/2023$591,601
HCA INC 5.25 06/15/2026$590,813
BANK OF AMERICA CORP 6.5% 10/23/2024$589,067
CBRE SERVICES INC 5.25% 03/15/2025$588,723
TPF II LC LLC NEW TLB/TENASKA 5.5% 06/30/2016$586,916
VIRGIN MEDIA FINANCE PLC 6.375% 04/15/2023$585,200
FRONTIER COMMUNICATIONS CORP 11% 09/15/2025$585,075
LAREDO PETROLEUM INC 5.625% 01/15/2022$583,800
RED OAK POWER LLC 9.2% 11/30/2029$581,000
GREYSTAR REAL ESTATE PARTNERS LLC 8.25% 12/01/2022$570,625
PULTEGROUP INC 5.5% 03/01/2026$568,563
VWR FUNDING INC 4.625% 04/15/2022$566,720
ROCKIES EXPRESS PIPELINE LLC 6.875% 04/15/2040$564,460
CENTENE ESCROW CORP 6.125% 02/15/2024$564,425
EXAMWORKS GROUP INC 5.625% 04/15/2023$563,063
DAVITA HEALTHCARE PARTNERS INC 5% 05/01/2025$560,763
HOLDING MEDI-PARTENAIRES SAS 7% 05/15/2020$559,614
RANGE RESOURCES CORP 4.875% 05/15/2025$558,800
INTERFACE SECURITY SYSTEMS HOLDINGS INC 9.25% 01/15/2018$556,813
L BRANDS INC 6.875 11/01/2035$556,002
SPECTRUM BRANDS INC 5.75% 07/15/2025$555,100
T-MOBILE USA INC 6.5% 01/15/2026$553,188
HERCULES OFFSH TL 1L EXIT 10.5% 01/10/1900$551,513
JLL/DELTA DUTCH PLEDGECO BV 9.5% 05/01/2020$547,400
LAMAR MEDIA CORP 5.75% 02/01/2026$547,300
TENET HEALTHCARE CORP 4.75% 06/01/2020$545,900
GOODYEAR TIRE & RUBBER CO/THE 5.125% 11/15/2023$544,575
GFL ENVIRONMENTAL INC 9.875 02/01/2021$543,400
SERVICE CORP INTERNATIONAL/US 5.375% 05/15/2024$541,875
OASIS PETROLEUM INC 6.875% 03/15/2022$540,125
MGM RESORTS INTERNATIONAL 6.625% 12/15/2021$538,750
TESORO LOGISTICS LP / TESORO LOGISTICS F 5.5% 10/15/2019$535,000
HEALTHSOUTH CORP 5.75% 11/01/2024$534,450
OPE KAG FINANCE SUB INC 7.875% 07/31/2023$531,325
MPLX LP 4.875% 06/01/2025$529,812
MONITRONICS INTERNATIONAL INC 9.125% 04/01/2020$529,750
KLOECKNER PENTAPLAST OF AMERICA INC 7.125% 11/01/2020$525,635
DYNEGY INC 6.75% 11/01/2019$525,000
CLIFFS NATURAL RESOURCES INC 8.25% 03/31/2020$522,750
FRONTIER COMMUNICATIONS CORP 7.125% 01/15/2023$520,650
WILLIAM CARTER CO/THE 5.25% 08/15/2021$516,250
WILLIAM LYON HOMES INC 8.5 11/15/2020$515,542
SS&C TECHNOLOGIES HOLDINGS INC 5.875% 07/15/2023$513,563
STEEL DYNAMICS INC 5.125% 10/01/2021$512,575
T-MOBILE USA INC 6.464% 04/28/2019$512,500
SPRINT COMMUNICATIONS INC 7% 08/15/2020$512,000
JACK COOPER HOLDINGS CORP 10.25% 06/01/2020$511,200
CARROLS RESTAURANT GROUP INC 8% 05/01/2022$506,425
ROCKIES EXPRESS PIPELINE LLC 5.625% 04/15/2020$503,500
MURRAY ENERGY CORP TL B2 1L 7.5% 06/30/2016$503,107
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.5% 03/01/2023$502,444
GOLDMAN SACHS GROUP INC/THE 5.15% 05/22/2045$499,669
DPX HOLDINGS BV 7.5% 02/01/2022$499,375
QEP RESOURCES INC 6.875% 03/01/2021$498,150
LEVEL 3 FINANCING INC 5.125% 05/01/2023$497,350
COMMSCOPE TECHNOLOGIES FINANCE LLC 6% 06/15/2025$497,044
FIDELITY & GUARANTY LIFE HOLDINGS INC 6.375% 04/01/2021$494,900
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 .999% 03/25/2037$493,901
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.25% 04/15/2021$492,500
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.625% 12/01/2025$492,200
RANGE RESOURCES CORP 5.75% 06/01/2021$491,675
MICHAELS STORES INC 5.875% 12/15/2020$483,000
STANDARD INDUSTRIES INC/NJ 5.5% 02/15/2023$482,925
ROYAL BANK OF SCOTLAND GROUP PLC 7.648% 09/30/2031$481,750
NRG REMA LLC 9.681% 07/02/2026$480,625
UNITED RENTALS NORTH AMERICA INC 5.5% 07/15/2025$479,299
ESH HOSPITALITY INC 5.25% 05/01/2025$478,975
WESCO DISTRIBUTION INC 5.375% 12/15/2021$477,050
RICE ENERGY INC 7.25% 05/01/2023$475,200
CAROLINA BEVERAGE GROUP LLC / CAROLINA B 10.625% 08/01/2018$472,850
NRG ENERGY INC 6.625% 03/15/2023$468,905
ACTIVISION BLIZZARD INC 5.625% 09/15/2021$464,750
JONES ENERGY HOLDINGS LLC / JONES ENERGY 6.75% 04/01/2022$464,100
VISTA OUTDOOR INC 5.875% 10/01/2023$463,100
MATTERHORN TELECOM SA 3.875% 05/01/2022$462,386
ALLIANCE ONE INTERNATIONAL INC 9.875% 07/15/2021$459,750
LEVI STRAUSS & CO 5% 05/01/2025$456,750
COMPILER FINANCE SUB INC 7% 05/01/2021$455,400
ABN AMRO BANK NV 4.75% 07/28/2025$454,967
NAVIENT CORP 5.875% 03/25/2021$454,375
GRIFOLS WORLDWIDE OPERATIONS LTD 5.25% 04/01/2022$454,300
DISH DBS CORP 7.875% 09/01/2019$452,538
AUSDRILL FINANCE PTY LTD 6.875% 11/01/2019$452,400
NELNET STUDENT LOAN TRUST 2008-3 1.979% 11/25/2024$451,261
VIRGIN MEDIA FINANCE PLC 4.875% 02/15/2022$448,750
LANDRY'S INC 9.375% 05/01/2020$448,375
CHOCTAW RESORT DEVELOPMENT ENTERPRISE 7.25% 11/15/2019$447,525
MURPHY OIL USA INC 6% 08/15/2023$447,200
GEO GROUP INC/THE 5.875% 10/15/2024$446,050
RSP PERMIAN INC 6.625 10/01/2022$445,500
ANGLO AMERICAN CAPITAL PLC 4.875 05/14/2025$444,150
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 7.5% 07/01/2021$442,400
SLM STUDENT LOAN TRUST 2008-5 1.995% 07/25/2023$442,031
MICRON TECHNOLOGY INC 5.5% 02/01/2025$440,438
GIBSON BRANDS INC 8.875% 08/01/2018$438,750
VIKING CRUISES LTD 6.25% 05/15/2025$438,100
FRONTIER COMMUNICATIONS CORP 7.625% 04/15/2024$437,325
EAGLE SPINCO INC 4.625% 02/15/2021$437,108
BLUE RACER MIDSTREAM LLC / BLUE RACER FI 6.125% 11/15/2022$435,500
CONTINENTAL RESOURCES INC/OK 4.9 06/01/2044$435,000
HUDBAY MINERALS INC 9.5% 10/01/2020$432,575
ARCELORMITTAL 6.125% 06/01/2025$427,800
BOPARAN FINANCE PLC 5.5% 07/15/2021$427,428
LMI AEROSPACE INC 7.375% 07/15/2019$425,250
MASTR ASSET BACKED SECURITIES TRUST 2006 .489% 12/25/2035$418,613
TMX FINANCE LLC / TITLEMAX FINANCE CORP 8.5% 09/15/2018$418,600
FIRST DATA CORP 5.75% 01/15/2024$416,515
SPEEDWAY MOTORSPORTS INC 5.125% 02/01/2023$412,000
DENBURY RESOURCES INC 5.5% 05/01/2022$411,775
TMS INTERNATIONAL CORP 7.625% 10/15/2021$410,375
ALLY FINANCIAL INC 5.125% 09/30/2024$405,863
MOTO FINANCE PLC 6.375% 09/01/2020$404,677
SIG COMBIBLOC HOLDINGS SCA 7.75% 02/15/2023$402,191
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 8.25% 10/15/2023$399,900
AMERICAN AXLE & MANUFACTURING INC 6.625% 10/15/2022$396,150
CIT GROUP INC 5.5% 02/15/2019$394,060
WESTERN DIGITAL CORP 10.5 04/01/2024$391,950
FLORIDA EAST COAST HOLDINGS CORP 6.75% 05/01/2019$391,950
OI SA 5.75% 02/10/2022$388,360
PLANTRONICS INC 5.5% 05/31/2023$384,150
ANGLO AMERICAN CAPITAL PLC 1.75% 04/03/2018$382,900
HSBC HOLDINGS PLC 6.375% 09/17/2024$381,300
CREDIT AGRICOLE SA 8.125% 12/23/2025$380,568
TENNECO INC 5.375 12/15/2024$376,863
B&G FOODS INC 4.625% 06/01/2021$376,475
ARGOS MERGER SUB INC 7.125% 03/15/2023$372,925
BARMINCO FINANCE PTY LTD 9% 06/01/2018$372,488
HSBC HOLDINGS PLC 6.375% 03/30/2025$369,525
GAMESTOP CORP 6.75 03/15/2021$368,600
GREATBATCH LTD 9.125% 11/01/2023$367,688
TIME INC 5.75% 04/15/2022$361,337
CROWNROCK LP / CROWNROCK FINANCE INC 7.75% 02/15/2023$359,825
BWAY HOLDING CO 9.125% 08/15/2021$359,000
GENERAL MOTORS CO 5.2% 04/01/2045$358,521
VIACOM INC 4.375% 03/15/2043$356,852
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.375% 03/15/2020$356,700
DUFRY FINANCE SCA 5.5% 10/15/2020$355,300
NAVIENT CORP 5% 10/26/2020$350,350
PRECISION DRILLING CORP 6.5% 12/15/2021$344,250
HCA INC 5.875% 05/01/2023$342,469
L BRANDS INC 6.95% 03/01/2033$341,550
DS SERVICES OF AMERICA INC 10% 09/01/2021$341,250
BHP BILLITON FINANCE USA LTD 6.75% 10/19/2075$340,425
PARSLEY ENERGY LLC / PARSLEY FINANCE COR 7.5% 02/15/2022$340,000
COEUR MINING INC 7.875% 02/01/2021$339,150
LANTHEUS MEDICAL IMAGING TL B 7% 04/25/2016$338,691
CTP TRANSPORTATION PRODUCTS LLC / CTP FI 8.25% 12/15/2019$336,600
PANDA TEMPLE POWER TERM LOAN 03/15 7.25% 06/30/2016$336,353
CCO SAFARI II LLC 6.484% 10/23/2045$334,740
EP ENERGY LLC / EVEREST ACQUISITION FINA 9.375% 05/01/2020$331,094
TIME WARNER CABLE INC 7.3% 07/01/2038$329,410
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 5.5% 08/15/2022$328,900
T-MOBILE USA INC 6% 03/01/2023$328,400
CGG SA 6.5% 06/01/2021$328,000
WALTER INVESTMENT MANAGEMENT CORP 7.875% 12/15/2021$327,500
BOYD GAMING CORP 6.375 04/01/2026$323,175
MODULAR SPACE CORP 10.25% 01/31/2019$322,560
HCA INC 5.25% 04/15/2025$320,075
CALIFORNIA RESOURCES CORP 5.5% 09/15/2021$318,375
GAMESTOP CORP 5.5% 10/01/2019$318,038
COVERIS HOLDINGS SA 7.875% 11/01/2019$315,000
ALTICE FINANCING SA 5.25% 02/15/2023$314,960
WHITING PETROLEUM CORP 5.75% 03/15/2021$314,900
KRAFT HEINZ FOODS CO 7.125% 08/01/2039$314,542
WINDSTREAM SERVICES LLC 7.75% 10/15/2020$311,400
CONCHO RESOURCES INC 6.5% 01/15/2022$310,775
GENWORTH HOLDINGS INC 7.7% 06/15/2020$310,625
TEMPUR SEALY INTERNATIONAL INC 5.625% 10/15/2023$310,125
CARRIZO OIL & GAS INC 7.5% 09/15/2020$309,375
RICE ENERGY INC 6.25% 05/01/2022$306,250
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.25% 05/01/2023$306,075
DOWNSTREAM DEVELOPMENT AUTHORITY OF THE 10.5% 07/01/2019$305,600
WPX ENERGY INC 8.25% 08/01/2023$303,225
NCL CORP LTD 4.625% 11/15/2020$303,000
PSPC ESCROW CORP 6% 02/01/2023$301,526
PSPC ESCROW CORP 6% 02/01/2023$301,526
SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023$297,375
STANDARD INDUSTRIES INC/NJ 5.125% 02/15/2021$293,194
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENL 5.25% 08/04/2045$293,125
VALEANT PHARMACEUTICALS INTERNATIONAL 6.375% 10/15/2020$292,250
GENESIS ENERGY LP / GENESIS ENERGY FINAN 6% 05/15/2023$292,050
ALCOA INC 5.95% 02/01/2037$290,700
STEEL DYNAMICS INC 5.5% 10/01/2024$289,275
MAGNUM HUNTER RESOURCES CORP 9.75% 05/15/2020$288,000
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 4.875% 04/15/2020$287,310
KRAFT HEINZ FOODS CO 4.875% 02/15/2025$283,377
CSC HOLDINGS LLC 6.75% 11/15/2021$283,113
CENTRAL GARDEN & PET CO 6.125% 11/15/2023$282,150
CEMEX SAB DE CV 6.125% 05/05/2025$281,250
LEVEL 3 FINANCING INC 5.375% 08/15/2022$280,297
MAGNUM HUNTER RESOURCES 9% 04/29/2016$278,600
ECO SERVICES OPERATIONS LLC/ECO FINANCE 8.5% 11/01/2022$277,500
AMAG PHARMACEUTICALS INC 7.875% 09/01/2023$275,125
TRIBUNE MEDIA CO 5.875% 07/15/2022$274,254
SM ENERGY CO 5.625% 06/01/2025$272,879
NELNET STUDENT LOAN TRUST 2005-4 0.4992% 03/22/2032$272,402
GREEKTOWN HOLDINGS LLC/GREEKTOWN MOTHERS 8.875% 03/15/2019$267,800
CHESAPEAKE ENERGY CORP 4.875% 04/15/2022$266,250
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.625% 10/15/2023$264,625
PARAGON OFFSHORE PLC 6.75 07/15/2022$263,488
CELANESE US HOLDINGS LLC 4.625% 11/15/2022$262,860
BNP PARIBAS SA 7.375% 08/19/2025$261,563
BARCLAYS PLC 8.25% 12/15/2018$260,671
HARDWOODS ACQUISITION INC 7.5% 08/01/2021$260,300
JBS USA LLC / JBS USA FINANCE INC 7.25 06/01/2021$260,260
SPRINT COMMUNICATIONS INC 11.5% 11/15/2021$259,550
BARCLAYS BANK PLC 7.625% 11/21/2022$258,450
AMC ENTERTAINMENT INC 5.75% 06/15/2025$256,875
MEG ENERGY CORP 7% 03/31/2024$255,850
FRESENIUS MEDICAL CARE US FINANCE II INC 4.75% 10/15/2024$255,313
TRONOX FINANCE LLC 7.5% 03/15/2022$252,088
ENSCO PLC 4.7% 03/15/2021$251,683
LAMAR MEDIA CORP 5% 05/01/2023$250,949
TEINE ENERGY LTD 6.875% 09/30/2022$250,600
CONSTELLATION BRANDS INC 4.75% 12/01/2025$249,600
LANDRY'S HOLDINGS II INC 10.25% 01/01/2018$249,375
ROSE ROCK MIDSTREAM LP / ROSE ROCK FINANCE CORP 5.625% 11/15/2023$248,900
ARCELORMITTAL 6.25% 03/01/2021$247,500
TENET HEALTHCARE CORP 4.375% 10/01/2021$246,838
WILLIAMS COS INC/THE 5.75 06/24/2044$241,200
USG CORP 5.5% 03/01/2025$240,063
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.75% 01/15/2023$237,843
EMPIRE TODAY LLC / EMPIRE TODAY FINANCE 11.375% 02/01/2017$237,600
ALLY FINANCIAL INC 4.625% 05/19/2022$236,763
CNO FINANCIAL GROUP INC 4.5% 05/30/2020$235,175
VALEANT PHARMACEUTICALS INTERNATIONAL INC 7.5% 07/15/2021$234,674
NGPL PIPECO LLC 7.119% 12/15/2017$233,100
ANGLO AMERICAN CAPITAL PLC 3.625 05/14/2020$233,042
ALLY FINANCIAL INC 8% 11/01/2031$229,000
BERRY PETROLEUM CO LLC 6.375% 09/15/2022$227,920
AES CORP/VA 5.5% 03/15/2024$225,975
GOODYEAR DUNLOP TIRES EUROPE BV 3.75 12/15/2023$225,481
CARMIKE CINEMAS INC 6% 06/15/2023$222,075
IHEARTCOMMUNICATIONS INC 14% 02/01/2021$218,362
ROCKIES EXPRESS PIPELINE LLC 7.5% 07/15/2038$218,125
ANGLO AMERICAN CAPITAL PLC 3.5% 03/28/2022$214,696
ENSCO PLC 5.75 10/01/2044$213,388
TOLL BROTHERS FINANCE CORP 6.75% 11/01/2019$212,800
RESOLUTE FOREST PRODUCTS INC 5.875% 05/15/2023$210,800
AMERICAN AXLE & MANUFACTURING INC 6.25% 03/15/2021$207,250
WILLIAMS COS INC/THE 4.55% 06/24/2024$206,550
NETFLIX INC 5.5% 02/15/2022$199,869
SM ENERGY CO 5% 01/15/2024$195,213
NUMERICABLE-SFR SAS 6.25% 05/15/2024$194,900
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.375% 05/01/2025$193,800
CEC ENTERTAINMENT INC 8% 02/15/2022$189,750
PETROBRAS GLOBAL FINANCE BV 6.85% 06/05/2115$189,675
NAVIENT CORP 5.5% 01/15/2019$187,625
CHESAPEAKE ENERGY CORP 5.75 03/15/2023$186,300
PACIFIC DRILLING V LTD 7.25% 12/01/2017$186,250
ALTICE LUXEMBOURG SA 6.25 02/15/2025$184,988
KINDRED HEALTHCARE INC 8.75% 01/15/2023$182,638
CARRIZO OIL & GAS INC 6.25% 04/15/2023$181,681
COMM 2015-LC21 MORTGAGE TRUST 3.25% 07/10/2048$179,831
FREEPORT-MCMORAN INC 4% 11/14/2021$178,125
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 3% 05/15/2048$175,237
LIFEPOINT HEALTH INC 5.875% 12/01/2023$172,838
CLOUD PEAK ENERGY RESOURCES LLC / CLOUD 6.375% 03/15/2024$172,250
ANGLO AMERICAN CAPITAL PLC 4.125 09/27/2022$172,200
POST HOLDINGS INC 7.75% 03/15/2024$170,888
COMMSCOPE HOLDING CO INC 7.375% 06/01/2020$169,744
WOLVERINE WORLD WIDE INC 6.125% 10/15/2020$167,200
FREEPORT-MCMORAN INC 5.45 03/15/2043$166,725
WILLIAMS COS INC/THE 3.7 01/15/2023$165,550
NWH ESCROW CORP 7.5% 08/01/2021$165,000
WHITING PETROLEUM CORP 6.25% 04/01/2023$162,600
SPRINT COMMUNICATIONS INC 6% 11/15/2022$161,975
WPX ENERGY INC 5.25% 09/15/2024$161,000
SUBURBAN PROPANE PARTNERS LP/SUBURBAN EN 5.75% 03/01/2025$158,400
SEALED AIR CORP 4.5% 09/15/2023$157,542
GENWORTH HOLDINGS INC 4.9% 08/15/2023$156,975
FRONTIER COMMUNICATIONS CORP 6.875% 01/15/2025$156,903
WELLS FARGO COMMERCIAL MORTGAGE TRUST 20 4.62% 12/15/2047$155,929
MURRAY ENERGY CORP 11.25% 04/15/2021$153,900
SANCHEZ ENERGY CORP 6.125% 01/15/2023$152,600
GLOBE LUXEMBOURG SCA 9.625% 05/01/2018$152,500
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 6.75% 05/20/2020$149,350
R&R ICE CREAM PLC 5.5% 05/15/2020$147,108
JPMBB COMMERCIAL MORTGAGE SECURITIES TRU 4.273% 08/15/2048$146,988
CONSTELLATION BRANDS INC 4.75% 11/15/2024$146,650
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.875% 04/15/2023$144,750
MATTERHORN TELECOM SA 3.625% 05/01/2022$143,713
ATWOOD OCEANICS INC 6.5% 02/01/2020$139,200
WILLIAMS COS INC/THE 7.5% 01/15/2031$138,975
ENDO FINANCE LLC / ENDO FINCO INC 5.375% 01/15/2023$138,838
KRONOS ACQUISITION HOLDINGS INC 9% 08/15/2023$138,750
FREEPORT-MCMORAN INC 3.875 03/15/2023$136,500
RENT-A-CENTER INC/TX 4.75% 05/01/2021$136,350
STONE ENERGY CORP 7.5% 11/15/2022$136,125
CENTURYLINK INC 5.8% 03/15/2022$135,219
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.772724% 08/15/2048$134,195
CIT GROUP INC 5% 08/01/2023$130,975
OASIS PETROLEUM INC 6.5% 11/01/2021$126,650
FREEPORT-MCMORAN INC 3.55 03/01/2022$126,450
LINN ENERGY LLC / LINN ENERGY FINANCE CORP 12% 12/15/2020$125,828
OI EUROPEAN GROUP BV 4.875% 03/31/2021$124,742
LGE HOLDCO VI BV 7.125% 05/15/2024$124,316
TECHNIPLAS LLC 10% 05/01/2020$123,250
GRAPHIC PACKAGING INTERNATIONAL INC 4.875 11/15/2022$122,100
GENERAL MOTORS CO 6.6% 04/01/2036$121,386
FREEPORT-MCMORAN INC 3.1 03/15/2020$120,800
FREEPORT-MCMORAN OIL & GAS LLC / FCX OIL & GAS INC 6.125 06/15/2019$120,400
SABINE PASS LIQUEFACTION LLC 5.625% 03/01/2025$119,688
NCR CORP 6.375% 12/15/2023$119,025
MEG ENERGY CORP 6.5% 03/15/2021$115,663
CHESAPEAKE ENERGY CORP 6.875 11/15/2020$103,350
MORGAN STANLEY RESECURITIZATION TRUST 20 .424% 10/26/2046$96,272
CONTINENTAL RESOURCES INC/OK 3.8% 06/01/2024$95,400
CALIFORNIA RESOURCES CORP 8% 12/15/2022$89,125
SM ENERGY CO 6.125% 11/15/2022$88,080
MALLINCKRODT INTERNATIONAL FINANCE SA 4.75% 04/15/2023$82,500
DAVITA HEALTHCARE PARTNERS INC 5.125% 07/15/2024$80,950
CGG SA 6.875% 01/15/2022$79,000
GARDA WORLD SECURITY CORP 7.25% 11/15/2021$77,500
FMG RESOURCES PTY LTD LOAN 4.25% 04/20/2016$75,693
MICRON TECHNOLOGY INC 5.25% 08/01/2023$74,025
COMMSCOPE INC 4.375% 06/15/2020$72,100
EV ENERGY PARTNERS LP / EV ENERGY FINANCE CORP 8% 04/15/2019$71,400
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.5% 04/15/2025$71,000
ULTRA PETROLEUM CORP 6.125% 10/01/2024$68,400
LAREDO PETROLEUM INC 6.25% 03/15/2023$67,400
CONTINENTAL RESOURCES INC/OK 4.5 04/15/2023$67,300
MEG ENERGY CORP 6.375% 01/30/2023$65,450
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.875% 04/01/2024$63,000
CIT GROUP INC 5.375% 05/15/2020$62,400
ACADIA HEALTHCARE CO INC 5.625% 02/15/2023$61,200
TENET HEALTHCARE CORP 4.5% 04/01/2021$60,600
ALCOA INC 5.125 10/01/2024$57,206
GENERAL MOTORS CO 6.75% 04/01/2046$57,033
LEVEL 3 FINANCING INC 5.375% 01/15/2024$50,750
VALEANT PHARMACEUTICALS INTERNATIONAL 7.25% 07/15/2022$48,300
CONTINENTAL RESOURCES INC/OK 5% 09/15/2022$43,344
NOVELIS INC 8.375% 12/15/2017$40,880
PULTEGROUP INC 4.25% 03/01/2021$40,800
ARCELORMITTAL 6.125 06/01/2018$40,600
CALIFORNIA RESOURCES CORP 6% 11/15/2024$36,400
INTERNATIONAL LEASE FINANCE CORP 8.625% 01/15/2022$36,188
BERRY PETROLEUM CO LLC 6.75 11/01/2020$33,300
EP ENERGY LLC / EVEREST ACQUISITION FINA 6.375% 06/15/2023$32,550
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$31,500
DISH DBS CORP 6.75% 06/01/2021$31,050
AXIALL CORP 4.875% 05/15/2023$19,612
ANCESTRY.COM INC 11% 12/15/2020$10,800
SEVENTY SEVEN ENERGY INC 6.5% 07/15/2022$9,250
GUITAR CENTER INC 6.5 04/15/2019$9,050
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$14,401,506
 
Other
Holding NameMarket Value
BRITISH POUND$937,188
USD$149,624
US 5YR NOTE (CBT) BOND JUN16 (FVM6) COMDTY$111,986
USD$97,269
USD CCP COLL IM BAML$94,000
CURRENCY CONTRACT$26,465
EURO$20,087
US 2YR NOTE (CBT) BOND JUN16 (TUM6) COMDTY$6,458
CURRENCY CONTRACT$5,385
CURRENCY CONTRACT$929
CURRENCY CONTRACT$267
USD CCP COLL VM BAML$43
CURRENCY CONTRACT$-201
CURRENCY CONTRACT$-282
CURRENCY CONTRACT$-301
CURRENCY CONTRACT$-914
CURRENCY CONTRACT$-1,009
CURRENCY CONTRACT$-1,383
CURRENCY CONTRACT$-4,153
CURRENCY CONTRACT$-5,842
CURRENCY CONTRACT$-9,882
US ULTRA BOND CBT BOND JUN16 (WNM6) COMDTY$-14,090
CURRENCY CONTRACT$-30,643
CURRENCY CONTRACT$-106,464
CURRENCY CONTRACT$-892,594
All Holdings As of Feb 29, 2016
Equity
Holding NameMarket Value
GMAC CAPITAL TRUST I$1,088,668
REX ENERGY CORP$20,250
HERCULES OFFSHORE INC$15,920
 
Fixed Income
Holding NameMarket Value
SPRINT CORP 7.25% 09/15/2021$4,200,338
HCA INC 5.375% 02/01/2025$3,044,700
FIRST DATA CORP 7% 12/01/2023$2,817,025
DISH DBS CORP 5.875% 07/15/2022$2,520,000
NAVIENT CORP 4.875% 06/17/2019$2,519,363
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 4.949% 10/25/2024$2,399,238
SANMINA CORP 4.375% 06/01/2019$2,227,500
CIT GROUP INC 5% 08/15/2022$2,047,719
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.5% 05/15/2021$2,022,500
LEVEL 3 FINANCING INC 6.125% 01/15/2021$1,964,063
MIRAN MID-ATLANTIC SERIES C PASS THROUGH 10.06% 12/30/2028$1,902,310
CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022$1,832,813
INTELSAT JACKSON HOLDINGS SA 7.5% 04/01/2021$1,795,500
FLEXI-VAN LEASING INC 7.875% 08/15/2018$1,775,100
NEUBERGER BERMAN GROUP LLC / NEUBERGER B 5.875% 03/15/2022$1,770,125
UNITED RENTALS NORTH AMERICA INC 6.125% 06/15/2023$1,741,562
TENET HEALTHCARE CORP 6.75% 06/15/2023$1,704,038
CONVATEC FINANCE INTERNATIONAL SA 8.25% 01/15/2019$1,683,875
ASHTEAD CAPITAL INC 6.5% 07/15/2022$1,648,903
MORGAN STANLEY RESECURITIZATION TRUST 2015-R6 0.448% 07/26/2045$1,643,066
PRESTIGE BRANDS INC 5.375% 12/15/2021$1,642,588
DOLLAR TREE INC 5.75% 03/01/2023$1,640,531
WMG ACQUISITION CORP 5.625% 04/15/2022$1,606,925
T-MOBILE USA INC 6.633% 04/28/2021$1,575,000
NOVELIS INC 8.75% 12/15/2020$1,552,613
BUILDING MATERIALS CORP OF AMERICA 6% 10/15/2025$1,506,344
SPRINT CAPITAL CORP 6.9% 05/01/2019$1,500,625
SPECTRUM BRANDS INC 6.625% 11/15/2022$1,497,531
RANGE RESOURCES CORP 5.75% 06/01/2021$1,487,500
NRG ENERGY INC 6.25% 07/15/2022$1,487,500
ENDO FINANCE LLC 5.75% 01/15/2022$1,466,675
NOMURA RESECURITIZATION TRUST 2015-6R .389% 05/26/2046$1,437,002
ALTICE FINANCING SA 6.625% 02/15/2023$1,425,600
CLEAN HARBORS INC 5.25% 08/01/2020$1,420,575
IRON MOUNTAIN EUROPE PLC 6.125% 09/15/2022$1,398,600
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.75% 06/01/2022$1,385,325
CAPSUGEL SA 7% 05/15/2019$1,339,172
WEST CORP 5.375% 07/15/2022$1,325,656
ACCO BRANDS CORP 6.75% 04/30/2020$1,322,813
ACADIA HEALTHCARE CO INC 5.125% 07/01/2022$1,315,380
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.875% 05/15/2023$1,311,319
NEIMAN MARCUS GROUP LTD LLC 9.5% 10/15/2021$1,300,050
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 7% 05/20/2022$1,299,375
1011778 BC ULC / NEW RED FINANCE INC 4.625% 01/15/2022$1,291,320
JBS USA LLC / JBS USA FINANCE INC 7.25% 06/01/2021$1,283,700
SUMMIT MATERIALS LLC / SUMMIT MATERIALS FINANCE CORP 6.125% 07/15/2023$1,278,938
VALEANT PHARMACEUTICALS INTERNATIONAL 6.75% 08/15/2021$1,267,275
CCO SAFARI II LLC 4.908% 07/23/2025$1,263,711
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 6.75% 03/15/2024$1,248,913
HEALTHSOUTH CORP 5.125% 03/15/2023$1,242,450
CASCADES INC 5.5% 07/15/2022$1,241,225
TENET HEALTHCARE CORP 8.125% 04/01/2022$1,225,269
MALLINCKRODT INTERNATIONAL FINANCE SA / 5.75% 08/01/2022$1,220,775
CHURCHILL DOWNS INC 5.375% 12/15/2021$1,208,025
UNITED AIRLINES 2013-1 CLASS B PASS THRO 5.375% 02/15/2023$1,202,287
SUBURBAN PROPANE PARTNERS LP/SUBURBAN EN 5.5% 06/01/2024$1,182,500
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 4.625% 07/01/2022$1,165,800
ENVISION HEALTHCARE CORP 5.125% 07/01/2022$1,161,500
R&R PIK PLC 9.25% 05/15/2018$1,160,340
FIRST DATA CORP 5% 01/15/2024$1,135,215
REPERFORMING LOAN REMIC TRUST 2005-R2 8% 06/25/2035$1,131,593
CONSTELLATION BRANDS INC 6% 05/01/2022$1,130,000
DJO FINCO INC / DJO FINANCE LLC / DJO FI 8.125% 06/15/2021$1,128,950
UNIVERSAL HOSPITAL SERVICES INC 7.625% 08/15/2020$1,125,525
HCA INC 5.875% 02/15/2026$1,125,425
PACTIV LLC 8.375% 04/15/2027$1,124,500
PINNACLE FOODS FINANCE LLC / PINNACLE FO 4.875% 05/01/2021$1,103,988
FIRST QUALITY FINANCE CO INC 4.625% 05/15/2021$1,099,500
BERRY PLASTICS CORP 5.5% 05/15/2022$1,082,900
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 1.344% 03/25/2037$1,081,468
SIX FLAGS ENTERTAINMENT CORP 5.25% 01/15/2021$1,078,718
PILGRIM'S PRIDE CORP 5.75% 03/15/2025$1,073,875
LIFEPOINT HEALTH INC 5.5% 12/01/2021$1,071,225
INGLES MARKETS INC 5.75% 06/15/2023$1,070,600
HCA HOLDINGS INC 6.25% 02/15/2021$1,062,500
WIND ACQUISITION FINANCE SA 7% 04/23/2021$1,059,675
VIASAT INC 6.875% 06/15/2020$1,039,400
LEVEL 3 FINANCING INC 5.625% 02/01/2023$1,036,250
RITE AID CORP 6.125% 04/01/2023$1,028,400
DAVITA HEALTHCARE PARTNERS INC 5.75% 08/15/2022$1,024,563
NUMERICABLE-SFR SAS 5.625% 05/15/2024$1,013,631
GOODYEAR TIRE & RUBBER CO/THE 7% 05/15/2022$1,013,513
OPEN TEXT CORP 5.625% 01/15/2023$987,500
NCR CORP 5.875% 12/15/2021$976,388
SBA COMMUNICATIONS CORP 4.875% 07/15/2022$975,294
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 3.286% 12/15/2019$975,000
H&E EQUIPMENT SERVICES INC 7% 09/01/2022$967,075
COGENT COMMUNICATIONS GROUP INC 5.375% 03/01/2022$953,050
HUNTINGTON INGALLS INDUSTRIES INC 5% 12/15/2021$950,625
QUICKEN LOANS INC 5.75% 05/01/2025$949,400
COVANTA HOLDING CORP 6.375% 10/01/2022$946,050
CEDAR FAIR LP / CANADA'S WONDERLAND CO / 5.375% 06/01/2024$941,850
CITIGROUP INC 5.95% 05/15/2025$941,250
AMSURG CORP 5.625% 07/15/2022$935,544
DYNEGY INC 6.75% 11/01/2019$931,875
SINCLAIR TELEVISION GROUP INC 5.375% 04/01/2021$931,013
AERCAP IRELAND CAPITAL LTD / AERCAP GLOB 5% 10/01/2021$925,875
STUDIO CITY FINANCE LTD 8.5% 12/01/2020$921,200
MILACRON LLC / MCRON FINANCE CORP 7.75% 02/15/2021$914,325
UPCB FINANCE IV LTD 5.375% 01/15/2025$905,450
BALL CORP 4.375% 12/15/2023$901,991
WORLDPAY FINANCE PLC 3.75% 11/15/2022$900,658
CENTENE ESCROW CORP 5.625% 02/15/2021$895,613
DH SERVICES LUXEMBOURG SARL 7.75% 12/15/2020$895,500
APEX TOOL GROUP LLC 7% 02/01/2021$894,675
CITGO PETROLEUM CORP 6.25% 08/15/2022$892,800
ALLY FINANCIAL INC 7.5% 09/15/2020$884,893
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO INC 5.75% 12/15/2023$882,788
JAGUAR HOLDING CO II / PHARMACEUTICAL PR 6.375% 08/01/2023$879,350
NIELSEN FINANCE LLC / NIELSEN FINANCE CO 5% 04/15/2022$879,056
AURIS LUXEMBOURG II SA 8% 01/15/2023$878,181
NUMERICABLE-SFR SAS 6% 05/15/2022$875,600
CSC HOLDINGS LLC 5.25% 06/01/2024$866,075
SABINE PASS LIQUEFACTION LLC 5.625% 04/15/2023$862,575
DARLING GLOBAL FINANCE BV 4.75% 05/30/2022$860,298
BLUELINE RENTAL FINANCE CORP 7% 02/01/2019$855,500
SPRINT COMMUNICATIONS INC 8.375% 08/15/2017$855,313
WATCO COS LLC / WATCO FINANCE CORP 6.375% 04/01/2023$855,000
NRG YIELD OPERATING LLC 5.375% 08/15/2024$854,025
HUB INTERNATIONAL LTD 7.875% 10/01/2021$852,625
CEQUEL COMMUNICATIONS HOLDINGS I LLC / C 5.125% 12/15/2021$842,944
SIMMONS FOODS INC 7.875% 10/01/2021$841,500
FMG RESOURCES AUGUST 2006 PTY LTD 9.75% 03/01/2022$841,050
AMERICAN AIRLINES 2013-2 CLASS B PASS TH 5.6% 01/15/2022$840,187
TELECOM ITALIA SPA 5.303% 05/30/2024$837,425
HOMEVI SAS 6.875% 08/15/2021$834,163
DENALI BORROWER LLC / DENALI FINANCE COR 5.625% 10/15/2020$833,047
VIRGIN MEDIA FINANCE PLC 7% 04/15/2023$830,517
ARDAGH PACKAGING FINANCE PLC 9.125% 10/15/2020$828,000
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.5% 03/01/2023$824,938
CCOH SAFARI LLC 5.75% 02/15/2026$824,207
MEDIACOM BROADBAND LLC / MEDIACOM BROADB 5.5% 04/15/2021$823,438
CTR PARTNERSHIP LP / CARETRUST CAPITAL C 5.875% 06/01/2021$821,100
MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP 6.375% 03/01/2024$818,850
OASIS PETROLEUM INC 6.875% 01/15/2023$812,588
SPIRIT AEROSYSTEMS INC 5.25% 03/15/2022$806,588
ANCESTRY.COM HOLDINGS LLC 10.375% 10/15/2018$805,350
CARLSON TRAVEL HOLDINGS INC 7.5% 08/15/2019$802,700
PENDRAGON PLC 6.875% 05/01/2020$799,208
AES CORP/VA 5.5% 03/15/2024$795,500
JLL/DELTA DUTCH PLEDGECO BV 9.5% 05/01/2020$794,325
TERRAFORM POWER OPERATING LLC 5.875% 02/01/2023$792,750
DBP HOLDING CORP 7.75% 10/15/2020$784,125
XPO LOGISTICS INC 6.5% 06/15/2022$779,000
NEW COTAI LLC / NEW COTAI CAPITAL CORP 10.625% 05/01/2019$776,911
CAESARS ENTERTAINMENT RESORT PROPERTIES 8% 10/01/2020$776,175
FRONTIER COMMUNICATIONS CORP 10.5% 09/15/2022$775,519
CENTURYLINK INC 5.625% 04/01/2020$772,350
AMERICAN BUILDERS & CONTRACTORS SUPPLY C 5.625% 04/15/2021$770,625
WOODSIDE HOMES CO LLC / WOODSIDE HOMES F 6.75% 12/15/2021$769,500
FRESENIUS MEDICAL CARE US FINANCE II INC 5.875% 01/31/2022$768,250
POST HOLDINGS INC 6% 12/15/2022$766,238
HOWARD HUGHES CORP/THE 6.875% 10/01/2021$761,338
WINDSTREAM SERVICES LLC 7.5% 04/01/2023$760,510
CENTURYLINK INC 5.625% 04/01/2025$760,025
VWR FUNDING INC 4.625% 04/15/2022$757,607
PLASTIPAK HOLDINGS INC 6.5% 10/01/2021$757,525
CALPINE CORP 5.5% 02/01/2024$755,675
BRUNSWICK CORP/DE 4.625% 05/15/2021$755,625
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$746,125
MICHAEL BAKER HOLDINGS LLC / MICAHEL BAK 8.875% 04/15/2019$744,169
GULFPORT ENERGY CORP 6.625% 05/01/2023$737,413
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 4.25% 01/15/2022$737,018
NETFLIX INC 5.875% 02/15/2025$736,750
INTREPID AVIATION GROUP HOLDINGS LLC / I 6.875% 02/15/2019$733,900
TELENET FINANCE V LUXEMBOURG SCA 6.25% 08/15/2022$729,036
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.625% 12/01/2021$727,224
WAMU MORTGAGE PASS-THROUGH CERTIFICATES .679% 11/25/2045$726,870
NBTY INC 9% 10/01/2018$724,388
GRUPO ANTOLIN DUTCH BV 4.75% 04/01/2021$721,245
ALTICE LUXEMBOURG SA 7.25% 05/15/2022$718,715
SEALED AIR CORP 4.5% 09/15/2023$716,675
ARQIVA BROADCAST FINANCE PLC 9.5% 03/31/2020$715,105
ENCORE CREDIT RECEIVABLES TRUST 2005-3 1.1165% 10/25/2035$714,855
PORTAVENTURA ENTERTAINMENT BARCELONA BV 7.25% 12/01/2020$714,093
GUITAR CENTER INC 9.625% 04/15/2020$710,200
HILTON WORLDWIDE FINANCE LLC / HILTON WO 5.625% 10/15/2021$708,900
NAVIOS MARITIME ACQUISITION CORP / NAVIO 8.125% 11/15/2021$707,500
COMMSCOPE INC 5.5% 06/15/2024$705,969
RENT-A-CENTER INC/TX 6.625% 11/15/2020$705,575
CENTURY INTERMEDIATE HOLDING CO 2 9.75% 02/15/2019$704,663
SCIENTIFIC GAMES INTERNATIONAL INC 6.25% 09/01/2020$703,050
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.125% 05/01/2023$696,500
KCA DEUTAG UK FINANCE PLC 7.25% 05/15/2021$690,000
PARTY CITY HOLDINGS INC 6.125% 08/15/2023$684,575
VIRGIN MEDIA FINANCE PLC 6% 10/15/2024$684,250
COMMSCOPE INC 5% 06/15/2021$683,706
IRON MOUNTAIN INC 6% 10/01/2020$680,000
CBC AMMO LLC / CBC FINCO INC 7.25% 11/15/2021$679,400
IASIS HEALTHCARE LLC / IASIS CAPITAL COR 8.375% 05/15/2019$678,050
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 6.5% 04/30/2021$676,813
CSMC SERIES 2015-8R 4.5% 06/27/2036$675,072
VOUGEOT BIDCO PLC 7.875% 07/15/2020$672,159
VIMPELCOM HOLDINGS BV 5.95% 02/13/2023$666,400
1011778 BC ULC / NEW RED FINANCE INC 6% 04/01/2022$658,350
BIOSCRIP INC 8.875% 02/15/2021$651,550
CHEMOURS CO/THE 6.125% 05/15/2023$650,552
ELDORADO GOLD CORP 6.125% 12/15/2020$647,763
NEPTUNE FINCO CORP 6.625% 10/15/2025$645,075
SHELF DRILLING HOLDINGS LTD 8.625% 11/01/2018$645,000
ZIGGO BOND FINANCE BV 4.625% 01/15/2025$640,625
TEMPUR SEALY INTERNATIONAL INC 6.875% 12/15/2020$640,090
UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023$639,398
MPLX LP 4.875% 12/01/2024$638,312
BALL CORP 5.25% 07/01/2025$638,213
CENTENE ESCROW CORP 6.125% 02/15/2024$632,931
PHI INC 5.25% 03/15/2019$627,000
BEVERAGES & MORE INC 10% 11/15/2018$625,625
ZF NORTH AMERICA CAPITAL INC 4.75% 04/29/2025$623,188
UNIVISION COMMUNICATIONS INC 6.75% 09/15/2022$619,462
ZF NORTH AMERICA CAPITAL INC 4.5% 04/29/2022$618,750
NATURAL RESOURCE PARTNERS LP / NRP FINAN 9.125% 10/01/2018$618,050
CNO FINANCIAL GROUP INC 5.25% 05/30/2025$613,463
TRIONISTA TOPCO GMBH 6.875% 04/30/2021$605,099
GFL ESCROW CORP 9.875% 02/01/2021$601,800
SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025$600,850
SCIENTIFIC GAMES INTERNATIONAL INC 7% 01/01/2022$591,388
CBRE SERVICES INC 5.25% 03/15/2025$591,086
ENERGIZER HOLDINGS INC 5.5% 06/15/2025$590,538
UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025$588,750
VIRGIN MEDIA FINANCE PLC 6.375% 04/15/2023$585,900
SUN PRODUCTS CORP/THE 7.75% 03/15/2021$584,100
NCL CORP LTD 5.25% 11/15/2019$582,900
FRONTIER COMMUNICATIONS CORP 11% 09/15/2025$582,900
BANK OF AMERICA CORP 6.5% 10/23/2024$582,113
IMS HEALTH INC 4.125% 04/01/2023$577,258
RED OAK POWER LLC 9.2% 11/30/2029$576,800
CALUMET SPECIALTY PRODUCTS PARTNERS LP / 6.5% 04/15/2021$571,050
GREYSTAR REAL ESTATE PARTNERS LLC 8.25% 12/01/2022$570,625
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.625% 04/15/2023$568,643
TPF II LC LLC NEW TLB/TENASKA 5.5% 03/31/2016$567,026
PARSLEY ENERGY LLC / PARSLEY FINANCE COR 7.5% 02/15/2022$566,950
JACK COOPER HOLDINGS CORP 10.25% 06/01/2020$566,250
GROUP 1 AUTOMOTIVE INC 5.25% 12/15/2023$565,500
DAVITA HEALTHCARE PARTNERS INC 5% 05/01/2025$565,000
NXP BV / NXP FUNDING LLC 4.625% 06/15/2022$560,000
ALLY FINANCIAL INC 4.625% 03/30/2025$559,906
PULTEGROUP INC 5.5% 03/01/2026$558,938
INTERFACE SECURITY SYSTEMS HOLDINGS INC 9.25% 01/15/2018$556,813
EXAMWORKS GROUP INC 5.625% 04/15/2023$554,813
MONITRONICS INTERNATIONAL INC 9.125% 04/01/2020$554,125
FORUM ENERGY TECHNOLOGIES INC 6.25% 10/01/2021$552,813
RANGE RESOURCES CORP 4.875% 05/15/2025$551,656
SPECTRUM BRANDS INC 5.75% 07/15/2025$550,550
GOODYEAR TIRE & RUBBER CO/THE 5.125% 11/15/2023$547,225
SERVICE CORP INTERNATIONAL/US 5.375% 05/15/2024$545,063
L BRANDS INC 6.875% 11/01/2035$543,788
TA MFG. LTD 3.625% 04/15/2023$541,609
LAMAR MEDIA CORP 5.75% 02/01/2026$539,822
T-MOBILE USA INC 6.5% 01/15/2026$539,736
TENET HEALTHCARE CORP 4.75% 06/01/2020$537,950
MGM RESORTS INTERNATIONAL 6.625% 12/15/2021$533,750
HOLDING MEDI-PARTENAIRES SAS 7% 05/15/2020$533,672
SELECT MEDICAL CORP 6.375% 06/01/2021$524,900
SS&C TECHNOLOGIES HOLDINGS INC 5.875% 07/15/2023$524,700
MURPHY OIL USA INC 6% 08/15/2023$524,025
FIRST QUANTUM MINERALS LTD 7.25% 05/15/2022$522,500
T-MOBILE USA INC 6.464% 04/28/2019$516,250
OPE KAG FINANCE SUB INC 7.875% 07/31/2023$516,088
WILLIAM CARTER CO/THE 5.25% 08/15/2021$512,500
FRONTIER COMMUNICATIONS CORP 7.125% 01/15/2023$511,694
TMS INTERNATIONAL CORP 7.625% 10/15/2021$510,875
VWR FUNDING INC 4.625% 04/15/2022$508,461
TRONOX FINANCE LLC 6.375% 08/15/2020$506,000
TESORO LOGISTICS LP / TESORO LOGISTICS F 5.5% 10/15/2019$502,900
LEVEL 3 FINANCING INC 5.125% 05/01/2023$501,638
BAYTEX ENERGY CORP 5.125% 06/01/2021$500,950
FIDELITY & GUARANTY LIFE HOLDINGS INC 6.375% 04/01/2021$499,800
CARROLS RESTAURANT GROUP INC 8% 05/01/2022$499,375
BAYVIEW FINANCIAL ASSET TRUST 2007-SSR1 .999% 03/25/2037$498,933
STEEL DYNAMICS INC 5.125% 10/01/2021$494,900
IMMUCOR INC 11.125% 08/15/2019$490,750
WALTER INVESTMENT MANAGEMENT CORP 7.875% 12/15/2021$487,900
COMMSCOPE TECHNOLOGIES FINANCE LLC 6% 06/15/2025$487,550
NRG REMA LLC 9.681% 07/02/2026$485,625
TIME INC 5.75% 04/15/2022$482,363
HERCULES OFFSH TL 1L EXIT 10.5% 03/31/2016$481,250
KLOECKNER PENTAPLAST OF AMERICA INC 7.125% 11/01/2020$481,047
SALLY HOLDINGS LLC / SALLY CAPITAL INC 5.625% 12/01/2025$480,700
DPX HOLDINGS BV 7.5% 02/01/2022$479,375
STANDARD INDUSTRIES INC/NJ 5.5% 02/15/2023$478,225
ESH HOSPITALITY INC 5.25% 05/01/2025$477,750
ROCKIES EXPRESS PIPELINE LLC 5.625% 04/15/2020$475,079
MICHAELS STORES INC 5.875% 12/15/2020$474,950
MPLX LP 4.875% 06/01/2025$473,968
ROCKIES EXPRESS PIPELINE LLC 6.875% 04/15/2040$470,940
CAROLINA BEVERAGE GROUP LLC / CAROLINA B 10.625% 08/01/2018$470,400
ROYAL BANK OF SCOTLAND GROUP PLC 7.648% 09/30/2031$469,450
CLIFFS NATURAL RESOURCES INC 8.25% 03/31/2020$468,938
GOLDMAN SACHS GROUP INC/THE 5.15% 05/22/2045$468,881
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.25% 04/15/2021$467,500
ACTIVISION BLIZZARD INC 5.625% 09/15/2021$464,750
VALEANT PHARMACEUTICALS INTERNATIONAL 6.375% 10/15/2020$461,250
UNITED RENTALS NORTH AMERICA INC 5.5% 07/15/2025$457,200
GRIFOLS WORLDWIDE OPERATIONS LTD 5.25% 04/01/2022$457,050
VISTA OUTDOOR INC 5.875% 10/01/2023$456,500
MICRON TECHNOLOGY INC 5.5% 02/01/2025$454,950
ALLIANCE ONE INTERNATIONAL INC 9.875% 07/15/2021$454,500
HEXION INC 8.875% 02/01/2018$453,900
LEVI STRAUSS & CO 5% 05/01/2025$452,295
NELNET STUDENT LOAN TRUST 2008-3 1.979% 11/25/2024$451,186
LAREDO PETROLEUM INC 5.625% 01/15/2022$448,275
LANDRY'S INC 9.375% 05/01/2020$447,313
EAGLE SPINCO INC 4.625% 02/15/2021$446,828
VIRGIN MEDIA FINANCE PLC 4.875% 02/15/2022$446,250
GIBSON BRANDS INC 8.875% 08/01/2018$446,250
DISH DBS CORP 7.875% 09/01/2019$445,666
WESCO DISTRIBUTION INC 5.375% 12/15/2021$445,325
CHOCTAW RESORT DEVELOPMENT ENTERPRISE 7.25% 11/15/2019$442,935
VIKING CRUISES LTD 6.25% 05/15/2025$442,000
SLM STUDENT LOAN TRUST 2008-5 1.995% 07/25/2023$441,683
NAVIENT CORP 5.875% 03/25/2021$440,625
ABN AMRO BANK NV 4.75% 07/28/2025$437,585
RICE ENERGY INC 7.25% 05/01/2023$434,700
GEO GROUP INC/THE 5.875% 10/15/2024$434,500
KINDRED HEALTHCARE INC 8.75% 01/15/2023$432,600
FRONTIER COMMUNICATIONS CORP 7.625% 04/15/2024$431,200
TMX FINANCE LLC / TITLEMAX FINANCE CORP 8.5% 09/15/2018$429,000
OASIS PETROLEUM INC 6.875% 03/15/2022$427,750
NRG ENERGY INC 6.625% 03/15/2023$425,000
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 7.5% 07/01/2021$422,800
MASTR ASSET BACKED SECURITIES TRUST 2006 .489% 12/25/2035$422,137
LMI AEROSPACE INC 7.375% 07/15/2019$421,875
FIRST DATA CORP 5.75% 01/15/2024$418,631
AUSDRILL FINANCE PTY LTD 6.875% 11/01/2019$414,700
MATTERHORN TELECOM SA 3.875% 05/01/2022$411,642
ARGOS MERGER SUB INC 7.125% 03/15/2023$410,000
SANCHEZ ENERGY CORP 7.75% 06/15/2021$410,000
RSP PERMIAN INC 6.625% 10/01/2022$405,000
SPEEDWAY MOTORSPORTS INC 5.125% 02/01/2023$404,000
MURRAY ENERGY CORP TL B2 1L 7.5% 03/31/2016$403,587
ALLY FINANCIAL INC 5.125% 09/30/2024$399,444
CIT GROUP INC 5.5% 02/15/2019$394,250
BLUE RACER MIDSTREAM LLC / BLUE RACER FI 6.125% 11/15/2022$392,600
FLORIDA EAST COAST HOLDINGS CORP 6.75% 05/01/2019$392,438
COMPILER FINANCE SUB INC 7% 05/01/2021$388,575
BOPARAN FINANCE PLC 5.5% 07/15/2021$387,384
COMMUNICATIONS SALES & LEASING INC / CSL CAPITAL LLC 8.25% 10/15/2023$385,925
AMERICAN AXLE & MANUFACTURING INC 6.625% 10/15/2022$385,700
MOTO FINANCE PLC 6.375% 09/01/2020$384,397
JONES ENERGY HOLDINGS LLC / JONES ENERGY 6.75% 04/01/2022$382,200
BARMINCO FINANCE PTY LTD 9% 06/01/2018$379,294
HSBC HOLDINGS PLC 6.375% 09/17/2024$377,098
B&G FOODS INC 4.625% 06/01/2021$375,550
ARCELORMITTAL 6.125% 06/01/2025$374,900
PLANTRONICS INC 5.5% 05/31/2023$373,425
SIG COMBIBLOC HOLDINGS SCA 7.75% 02/15/2023$371,182
VALEANT PHARMACEUTICALS INTERNATIONAL IN 6.125% 04/15/2025$370,425
QEP RESOURCES INC 5.375% 10/01/2022$369,900
SPRINT COMMUNICATIONS INC 7% 08/15/2020$363,400
CSC HOLDINGS LLC 6.75% 11/15/2021$361,213
GREATBATCH LTD 9.125% 11/01/2023$360,750
HSBC HOLDINGS PLC 6.375% 03/30/2025$358,678
ANGLO AMERICAN CAPITAL PLC 1.75% 04/03/2018$356,833
DUFRY FINANCE SCA 5.5% 10/15/2020$356,150
CREDIT AGRICOLE SA 8.125% 12/23/2025$355,332
CHESAPEAKE ENERGY CORP 3.5388% 04/15/2019$354,375
OI SA 5.75% 02/10/2022$350,000
HUDBAY MINERALS INC 9.5% 10/01/2020$348,093
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$344,250
HCA INC 5.875% 05/01/2023$342,875
CTP TRANSPORTATION PRODUCTS LLC / CTP FI 8.25% 12/15/2019$340,765
NAVIENT CORP 5% 10/26/2020$340,725
PARAGON OFFSHORE PLC 6.75% 07/15/2022$340,525
DS SERVICES OF AMERICA INC 10% 09/01/2021$338,625
LANTHEUS MEDICAL IMAGING TL B 7% 03/24/2016$337,604
BWAY HOLDING CO 9.125% 08/15/2021$334,000
T-MOBILE USA INC 6% 03/01/2023$331,200
GENERAL MOTORS CO 5.2% 04/01/2045$329,400
BHP BILLITON FINANCE USA LTD 6.75% 10/19/2075$328,950
GAMESTOP CORP 5.5% 10/01/2019$328,763
L BRANDS INC 6.95% 03/01/2033$328,350
PANDA TEMPLE POWER TERM LOAN 03/15 7.25% 03/31/2016$328,269
SUMMIT MIDSTREAM HOLDINGS LLC / SUMMIT MIDSTREAM FINANCE CORP 5.5% 08/15/2022$327,500
HCA INC 5.25% 04/15/2025$320,075
CROWNROCK LP / CROWNROCK FINANCE INC 7.75% 02/15/2023$320,050
CCO SAFARI II LLC 6.484% 10/23/2045$317,176
TARGA RESOURCES PARTNERS LP / TARGA RESOURCES PARTNERS FINANCE CORP 5.25% 05/01/2023$307,125
TEMPUR SEALY INTERNATIONAL INC 5.625% 10/15/2023$306,000
DOWNSTREAM DEVELOPMENT AUTHORITY OF THE 10.5% 07/01/2019$304,800
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 4.875% 04/15/2020$303,475
KRAFT HEINZ FOODS CO 7.125% 08/01/2039$300,901
MAGNUM HUNTER RESOURCES CORP 9.75% 05/15/2020$300,800
COEUR MINING INC 7.875% 02/01/2021$300,300
CONCHO RESOURCES INC 6.5% 01/15/2022$299,150
TIME WARNER CABLE INC 7.3% 07/01/2038$296,258
SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023$294,750
NCL CORP LTD 4.625% 11/15/2020$293,250
PRECISION DRILLING CORP 6.5% 12/15/2021$292,500
STANDARD INDUSTRIES INC/NJ 5.125% 02/15/2021$292,125
DENBURY RESOURCES INC 5.5% 05/01/2022$287,338
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.625% 10/15/2023$286,375
RICE ENERGY INC 6.25% 05/01/2022$285,250
HEALTHSOUTH CORP 5.75% 11/01/2024$284,200
LEVEL 3 FINANCING INC 5.375% 08/15/2022$283,594
NELNET STUDENT LOAN TRUST 2005-4 0.4992% 03/22/2032$282,887
ALTICE FINANCING SA 5.25% 02/15/2023$282,705
WINDSTREAM SERVICES LLC 7.75% 10/15/2020$282,523
KRAFT HEINZ FOODS CO 4.875% 02/15/2025$281,448
TRIBUNE MEDIA CO 5.875% 07/15/2022$280,700
MAGNUM HUNTER RESOURCES 9% 03/31/2016$280,000
COVERIS HOLDINGS SA 7.875% 11/01/2019$280,000
CENTRAL GARDEN & PET CO 6.125% 11/15/2023$276,750
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENL 5.25% 08/04/2045$276,708
CGG SA 6.5% 06/01/2021$274,000
AMAG PHARMACEUTICALS INC 7.875% 09/01/2023$271,250
CEMEX SAB DE CV 6.125% 05/05/2025$270,750
ECO SERVICES OPERATIONS LLC/ECO FINANCE 8.5% 11/01/2022$270,000
STEEL DYNAMICS INC 5.5% 10/01/2024$267,900
ALCOA INC 5.95% 02/01/2037$266,900
VALEANT PHARMACEUTICALS INTERNATIONAL INC 7.5% 07/15/2021$265,300
SPRINT CAPITAL CORP 8.75% 03/15/2032$263,500
PSPC ESCROW CORP 6% 02/01/2023$259,318
PSPC ESCROW CORP 6% 02/01/2023$259,318
AMC ENTERTAINMENT INC 5.75% 06/15/2025$259,063
CELANESE US HOLDINGS LLC 4.625% 11/15/2022$258,700
CARRIZO OIL & GAS INC 7.5% 09/15/2020$257,400
FRESENIUS MEDICAL CARE US FINANCE II INC 4.75% 10/15/2024$256,750
GENESIS ENERGY LP / GENESIS ENERGY FINAN 6% 05/15/2023$255,750
GREEKTOWN HOLDINGS LLC/GREEKTOWN MOTHERS 8.875% 03/15/2019$254,800
BNP PARIBAS SA 7.375% 08/19/2025$252,788
CONSTELLATION BRANDS INC 4.75% 12/01/2025$251,700
GENWORTH HOLDINGS INC 7.7% 06/15/2020$250,250
HEALTHSOUTH CORP 5.75% 11/01/2024$248,675
BARCLAYS PLC 8.25% 12/15/2018$247,998
LAMAR MEDIA CORP 5% 05/01/2023$243,600
BARCLAYS BANK PLC 7.625% 11/21/2022$243,150
LANDRY'S HOLDINGS II INC 10.25% 01/01/2018$243,125
TENET HEALTHCARE CORP 4.375% 10/01/2021$242,856
WPX ENERGY INC 8.25% 08/01/2023$242,775
EMPIRE TODAY LLC / EMPIRE TODAY FINANCE 11.375% 02/01/2017$240,000
USG CORP 5.5% 03/01/2025$235,463
ALLY FINANCIAL INC 4.625% 05/19/2022$235,294
ANTERO RESOURCES CORP 5.375% 11/01/2021$234,900
IHEARTCOMMUNICATIONS INC 14% 02/01/2021$232,603
TEINE ENERGY LTD 6.875% 09/30/2022$231,000
CNO FINANCIAL GROUP INC 4.5% 05/30/2020$229,713
ARCELORMITTAL 6.25% 03/01/2021$226,250
NGPL PIPECO LLC 7.119% 12/15/2017$225,000
UNITYMEDIA HESSEN GMBH & CO KG / UNITYME 5.75% 01/15/2023$223,226
WHITING PETROLEUM CORP 5.75% 03/15/2021$222,075
CARMIKE CINEMAS INC 6% 06/15/2023$221,288
ALLY FINANCIAL INC 8% 11/01/2031$221,000
MOLINA HEALTHCARE INC 5.375% 11/15/2022$213,675
SM ENERGY CO 5.625% 06/01/2025$211,900
ROSE ROCK MIDSTREAM LP / ROSE ROCK FINANCE CORP 5.625% 11/15/2023$211,850
TOLL BROTHERS FINANCE CORP 6.75% 11/01/2019$210,900
TRONOX FINANCE LLC 7.5% 03/15/2022$207,700
AMERICAN AXLE & MANUFACTURING INC 6.25% 03/15/2021$202,250
NETFLIX INC 5.5% 02/15/2022$200,450
MEG ENERGY CORP 7% 03/31/2024$199,950
CALIFORNIA RESOURCES CORP 5.5% 09/15/2021$198,100
NUMERICABLE-SFR SAS 6.25% 05/15/2024$196,000
ANGLO AMERICAN CAPITAL PLC 3.5% 03/28/2022$195,432
ROCKIES EXPRESS PIPELINE LLC 7.5% 07/15/2038$188,750
CEC ENTERTAINMENT INC 8% 02/15/2022$188,650
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL 5.375% 05/01/2025$188,575
NAVIENT CORP 5.5% 01/15/2019$188,575
ALTICE LUXEMBOURG SA 7.625% 02/15/2025$183,500
WILLIAMS COS INC/THE 4.55% 06/24/2024$181,200
HARDWOODS ACQUISITION INC 7.5% 08/01/2021$180,500
COMM 2015-LC21 MORTGAGE TRUST 3.25% 07/10/2048$175,158
VALEANT PHARMACEUTICALS INTERNATIONAL IN 5.375% 03/15/2020$172,900
MODULAR SPACE CORP 10.25% 01/31/2019$172,480
LIFEPOINT HEALTH INC 5.875% 12/01/2023$172,013
FREEPORT-MCMORAN INC 4% 11/14/2021$171,250
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-C28 3% 05/15/2048$171,210
POST HOLDINGS INC 7.75% 03/15/2024$170,113
PETROBRAS GLOBAL FINANCE BV 6.85% 06/05/2115$169,088
COMMSCOPE HOLDING CO INC 7.375% 06/01/2020$168,919
EP ENERGY LLC / EVEREST ACQUISITION FINA 9.375% 05/01/2020$166,600
WOLVERINE WORLD WIDE INC 6.125% 10/15/2020$165,200
RESOLUTE FOREST PRODUCTS INC 5.875% 05/15/2023$164,300
CHESAPEAKE ENERGY CORP 4.875% 04/15/2022$161,250
FRONTIER COMMUNICATIONS CORP 6.875% 01/15/2025$156,556
SPRINT COMMUNICATIONS INC 6% 11/15/2022$156,200
CLOUD PEAK ENERGY RESOURCES LLC / CLOUD 6.375% 03/15/2024$151,050
CALIFORNIA RESOURCES CORP 6% 11/15/2024$148,400
WELLS FARGO COMMERCIAL MORTGAGE TRUST 20 4.62% 12/15/2047$148,039
AMERIGAS FINANCE LLC / AMERIGAS FINANCE 6.75% 05/20/2020$147,900
CONSTELLATION BRANDS INC 4.75% 11/15/2024$147,175
SEALED AIR CORP 4.5% 09/15/2023$146,721
CARRIZO OIL & GAS INC 6.25% 04/15/2023$146,575
ENDO FINANCE LLC / ENDO FINCO INC 5.375% 01/15/2023$145,000
JPMBB COMMERCIAL MORTGAGE SECURITIES TRU 4.273% 08/15/2048$142,613
GULFPORT ENERGY CORP 7.75% 11/01/2020$141,750
R&R ICE CREAM PLC 5.5% 05/15/2020$141,273
SUBURBAN PROPANE PARTNERS LP/SUBURBAN EN 5.75% 03/01/2025$140,250
TAYLOR MORRISON COMMUNITIES INC / MONARC 5.875% 04/15/2023$138,750
PACIFIC DRILLING V LTD 7.25% 12/01/2017$137,500
MURRAY ENERGY CORP 11.25% 04/15/2021$136,800
CENTURYLINK INC 5.8% 03/15/2022$136,500
STONE ENERGY CORP 7.5% 11/15/2022$136,125
INTELSAT LUXEMBOURG SA 8.125% 06/01/2023$133,300
WILLIAMS COS INC/THE 7.5% 01/15/2031$131,750
KRONOS ACQUISITION HOLDINGS INC 9% 08/15/2023$131,250
CIT GROUP INC 5% 08/01/2023$130,325
MATTERHORN TELECOM SA 3.625% 05/01/2022$129,006
VALEANT PHARMACEUTICALS INTERNATIONAL INC 6.75% 08/15/2018$126,100
WPX ENERGY INC 5.25% 09/15/2024$125,350
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C31 4.772724% 08/15/2048$124,019
GENWORTH HOLDINGS INC 4.9% 08/15/2023$123,900
ATWOOD OCEANICS INC 6.5% 02/01/2020$123,250
BERRY PETROLEUM CO LLC 6.375% 09/15/2022$122,850
RENT-A-CENTER INC/TX 4.75% 05/01/2021$121,950
LGE HOLDCO VI BV 7.125% 05/15/2024$117,292
OI EUROPEAN GROUP BV 4.875% 03/31/2021$115,275
GENERAL MOTORS CO 6.6% 04/01/2036$114,256
SABINE PASS LIQUEFACTION LLC 5.625% 03/01/2025$113,906
NCR CORP 6.375% 12/15/2023$113,131
NWH ESCROW CORP 7.5% 08/01/2021$112,500
WHITING PETROLEUM CORP 6.25% 04/01/2023$111,000
TECHNIPLAS LLC 10% 05/01/2020$110,925
SPRINT COMMUNICATIONS INC 11.5% 11/15/2021$110,825
LINN ENERGY LLC / LINN ENERGY FINANCE CORP 12% 12/15/2020$107,064
GLOBE LUXEMBOURG SCA 9.625% 05/01/2018$107,000
OASIS PETROLEUM INC 6.5% 11/01/2021$104,125
SANCHEZ ENERGY CORP 6.125% 01/15/2023$100,800
MORGAN STANLEY RESECURITIZATION TRUST 20 .424% 10/26/2046$97,358
MEG ENERGY CORP 6.5% 03/15/2021$92,625
MALLINCKRODT INTERNATIONAL FINANCE SA 4.75% 04/15/2023$88,750
DAVITA HEALTHCARE PARTNERS INC 5.125% 07/15/2024$81,550
MICRON TECHNOLOGY INC 5.25% 08/01/2023$77,288
MALLINCKRODT INTERNATIONAL FINANCE SA / MALLINCKRODT CB LLC 5.5% 04/15/2025$75,800
COMMSCOPE INC 4.375% 06/15/2020$71,400
GARDA WORLD SECURITY CORP 7.25% 11/15/2021$70,500
CGG SA 6.875% 01/15/2022$70,000
AECOM 5.875% 10/15/2024$69,913
FMG RESOURCES PTY LTD LOAN 4.25% 04/20/2016$69,075
WPX ENERGY INC 7.5% 08/01/2020$63,500
EV ENERGY PARTNERS LP / EV ENERGY FINANCE CORP 8% 04/15/2019$63,000
CIT GROUP INC 5.375% 05/15/2020$62,100
CCO HOLDINGS LLC / CCO HOLDINGS CAPITAL CORP 5.875% 04/01/2024$61,425
ACADIA HEALTHCARE CO INC 5.625% 02/15/2023$60,900
SM ENERGY CO 5% 01/15/2024$60,375
TENET HEALTHCARE CORP 4.5% 04/01/2021$59,925
CALIFORNIA RESOURCES CORP 8% 12/15/2022$58,075
VALEANT PHARMACEUTICALS INTERNATIONAL 7.25% 07/15/2022$55,200
SM ENERGY CO 6.125% 11/15/2022$52,800
MEG ENERGY CORP 6.375% 01/30/2023$52,525
GENERAL MOTORS CO 6.75% 04/01/2046$52,475
LEVEL 3 FINANCING INC 5.375% 01/15/2024$51,375
LAREDO PETROLEUM INC 6.25% 03/15/2023$50,200
ULTRA PETROLEUM CORP 6.125% 10/01/2024$47,025
EP ENERGY LLC / EVEREST ACQUISITION FINA 6.375% 06/15/2023$44,000
PULTEGROUP INC 4.25% 03/01/2021$40,400
NOVELIS INC 8.375% 12/15/2017$40,000
BONANZA CREEK ENERGY INC 6.75% 04/15/2021$39,325
INTERNATIONAL LEASE FINANCE CORP 8.625% 01/15/2022$35,663
DISH DBS CORP 6.75% 06/01/2021$30,638
SUNCOKE ENERGY PARTNERS LP / SUNCOKE ENE 7.375% 02/01/2020$28,575
LINN ENERGY LLC / LINN ENERGY FINANCE CO 6.25% 11/01/2019$19,950
AXIALL CORP 4.875% 05/15/2023$19,475
WINDSTREAM SERVICES LLC 7.75% 10/01/2021$16,238
ANCESTRY.COM INC 11% 12/15/2020$10,575
LINN ENERGY LLC / LINN ENERGY FINANCE CO 6.5% 09/15/2021$8,550
SEVENTY SEVEN ENERGY INC 6.5% 07/15/2022$3,700
SAMSON INVESTMENT CO 9.75% 02/15/2020$2,338
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$14,242,302
 
Other
Holding NameMarket Value
CURRENCY CONTRACT$252,495
USD - FOR FUTURES$244,449
CURRENCY CONTRACT$164,882
USD$116,246
USD CCP COLL IM BAML$94,000
EURO$27,630
HY 5Y 12/20/2020 5.0 BOA CME CDS$20,600
CURRENCY CONTRACT$17,994
BRITISH POUND$9,744
CURRENCY CONTRACT$7,097
CURRENCY CONTRACT$5,932
CURRENCY CONTRACT$-333
CURRENCY CONTRACT$-457
CURRENCY CONTRACT$-2,086
CURRENCY CONTRACT$-4,902
USD CCP COLL VM BAML$-5,704
CURRENCY CONTRACT$-6,285
CURRENCY CONTRACT$-14,375
HY 5Y 12/20/2020 5.0 BOA CME CDS$-15,126
US 2YR NOTE (CBT) BOND JUN16 (TUM6) COMDTY$-15,682
CURRENCY CONTRACT$-19,744
US ULTRA BOND CBT BOND JUN16 WNM6 COMDTY$-19,899
 

Statistics

Duration and Maturity As of Feb 29, 2016
StatisticValue
Average Effective Duration4.53 years
Average Effective Maturity5.70 years
Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
BetaN/AN/A
AlphaN/AN/A
Standard DeviationN/AN/A
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, financial highlights, investment objectives and strategies, risks and performance information. The prospectus contains this and other information about the investment company. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You can obtain a prospectus, statement of additional information and other information about the Vantagepoint Funds online at www.icmarc.org/vpprospectus, by calling 800-669-7400 or emailing investorservices@icmarc.org. The Vantagepoint Funds are distributed by ICMA-RC Services LLC, a wholly owned broker-dealer subsidiary of ICMA-RC and member FINRA/SIPC.

The source for this information is Morningstar, Inc. Copyright © 2016 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.