PRINCIPAL
AMOUNT($)
|
|
|
|
VALUE($)
†
|
|
|
|
|
|
|
|
|
Bank Loan Obligations
µ
(12.4%)
|
|
All Telecom (0.6%)
|
|
|
|
267,000
|
|
Crown Castle, Term Loan B, due 1/31/19
|
|
266,244
|
¢^^
|
|
|
|
864,000
|
|
Level 3 Financing, Inc., Term Loan, due 3/13/14
|
|
860,544
|
¢^^
|
|
|
|
437,000
|
|
Level 3 Financing, Inc., Term Loan B3, 5.75%, due 9/1/18
|
|
437,957
|
|
|
|
|
1,564,745
|
|
|
|
Automotive (1.7%)
|
|
|
|
2,385,471
|
|
Chrysler Automotive, Term Loan B, 6.00%, due 5/24/17
|
|
2,421,253
|
|
|
|
|
2,125,000
|
|
Goodyear Tire & Rubber Company, Second Lien Term Loan, 4.75%, due 4/15/19
|
|
2,100,711
|
|
|
|
|
4,521,964
|
|
|
|
Building & Development (1.0%)
|
|
|
|
2,745,000
|
|
Realogy, Term Loan B-2, due 10/10/16
|
|
2,600,888
|
¢^^
|
|
Business Equipment & Services (0.3%)
|
|
|
|
907,375
|
|
Monitronics, Term Loan B, 5.50%, due 3/23/18
|
|
910,778
|
|
|
Cable & Satellite Television (0.4%)
|
|
|
|
1,077,300
|
|
Charter Communications Operating LLC, Term Loan D, 4.00%, due 4/9/19
|
|
1,075,188
|
|
|
Electronics - Electrical (0.3%)
|
|
|
|
783,038
|
|
Datatel, Inc., Term Loan B, 6.25%, due 7/31/18
|
|
789,106
|
|
|
Financial Intermediaries (1.9%)
|
|
|
|
777,007
|
|
First Data, Term Loan B-4, 5.25%, due 3/24/17
|
|
751,273
|
|
|
|
|
4,628,000
|
|
Springleaf, Term Loan B, 5.50%, due 5/10/17
|
|
4,417,796
|
¢^^
|
|
|
|
5,169,069
|
|
|
|
Health Care (1.5%)
|
|
|
|
1,196,311
|
|
EMS, Term Loan B, 5.25%, due 5/25/18
|
|
1,195,246
|
|
|
|
|
1,273,600
|
|
Pharmaceutical Product Development, Inc., Term Loan B, 6.25%, due 12/5/18
|
|
1,287,661
|
|
|
|
|
202,000
|
|
United Surgical Partners Int'l, Inc., Term Loan B, due 4/19/17
|
|
200,148
|
¢^^
|
|
|
|
1,273,000
|
|
United Surgical Partners Int'l, Inc., Term Loan B2, due 4/1/19
|
|
1,276,182
|
¢^^
|
|
|
|
3,959,237
|
|
|
|
Health Facilities (0.3%)
|
|
|
|
760,000
|
|
HCA, Inc., Term Loan B2, due 3/31/17
|
|
748,281
|
¢^^
|
|
Insurance (0.3%)
|
|
|
|
778,000
|
|
Hologic, Term Loan, due 7/18/19
|
|
782,863
|
¢^^
|
|
Lodging & Casinos (1.1%)
|
|
|
|
2,162,774
|
|
Ceasers Entertainment Operating Co., Term Loan B5, 4.50%, due 1/28/18
|
|
1,827,544
|
|
|
|
|
1,310,000
|
|
Station Casinos, Term Loan B-2, due 6/17/16
|
|
1,172,450
|
¢^^
|
|
|
|
2,999,994
|
|
|
|
Nonferrous Metals - Minerals (0.5%)
|
|
|
|
1,365,000
|
|
Arch Coal, Term Loan B, 5.75%, due 5/14/18
|
|
1,338,273
|
|
|
Oil & Gas (0.9%)
|
|
|
|
2,453,000
|
|
Chesapeake Energy, Term Loan B, 8.50%, due 12/2/17
|
|
2,445,862
|
¢^^
|
|
Publishing (0.2%)
|
|
|
|
802,189
|
|
Cengage Learning, Term Loan B1, 5.75%, due 7/31/17
|
|
689,482
|
¢^^
|
|
Radio & Television (0.5%)
|
|
|
|
555,000
|
|
Clear Channel, Term Loan A, 3.65%, due 7/30/14
|
|
497,574
|
|
|
|
|
798,000
|
|
Univision Communications, Inc., Term Loan, due 3/31/17
|
|
763,710
|
¢^^
|
|
|
|
1,261,284
|
|
|
|
Retailers (except food & drug) (0.3%)
|
|
|
|
959,000
|
|
Amscan Holdings, Inc., Term Loan, due 7/25/19
|
|
960,199
|
¢^^
|
|
|
|
|
|
|
|
|
Utilities (0.6%)
|
|
|
|
1,530,000
|
|
Calpine Corporation, Term Loan B, 4.50%, due 4/1/18
|
|
1,536,701
|
|
|
|
Total Bank Loan Obligations (Cost $33,233,556)
|
|
|
33,353,914
|
|
|
Corporate Debt Securities (125.0%)
|
|
Airlines (1.6%)
|
|
|
|
1,085,000
|
|
Continental Airlines, Inc., Senior Secured Notes, 6.75%, due 9/15/15
|
|
1,128,400
|
ñ
|
|
|
|
933,000
|
|
Delta Air Lines, Inc., Senior Secured Notes, 9.50%, due 9/15/14
|
|
983,149
|
ñ
|
|
|
|
1,271,000
|
|
United Airlines, Inc., Senior Secured Notes, 9.88%, due 8/1/13
|
|
1,315,485
|
ñ
|
|
|
|
765,439
|
|
United Airlines, Inc., Pass-Through Certificates, Ser. 2009-2, Class A, 9.75%, due 1/15/17
|
|
876,428
|
|
|
|
|
4,303,462
|
|
|
|
Automakers (1.4%)
|
|
|
|
1,160,000
|
|
Chrysler Group LLC/CG Co-Issuer, Inc., Secured Notes, 8.00%, due 6/15/19
|
|
1,206,400
|
|
|
|
|
945,000
|
|
Ford Holdings, Inc., Guaranteed Notes, 9.30%, due 3/1/30
|
|
1,267,481
|
|
|
|
|
845,000
|
|
Ford Motor Co., Senior Unsecured Notes, 9.98%, due 2/15/47
|
|
1,177,719
|
|
|
|
|
3,651,600
|
|
|
|
Banking (4.5%)
|
|
|
|
2,470,000
|
|
Ally Financial, Inc., Guaranteed Notes, 6.25%, due 12/1/17
|
|
2,670,687
|
|
|
|
|
555,000
|
|
Ally Financial, Inc., Subordinated Notes, 8.00%, due 12/31/18
|
|
633,255
|
|
|
|
|
4,080,000
|
|
Ally Financial, Inc., Guaranteed Notes, 8.00%, due 3/15/20
|
|
4,850,100
|
ØØ
|
|
|
|
820,000
|
|
Ally Financial, Inc., Guaranteed Notes, 7.50%, due 9/15/20
|
|
956,325
|
|
|
|
|
2,476,000
|
|
Ally Financial, Inc., Guaranteed Notes, 8.00%, due 11/1/31
|
|
2,965,010
|
|
|
|
|
12,075,377
|
|
|
|
Building & Construction (0.7%)
|
|
|
|
650,000
|
|
Beazer Homes USA, Inc., Guaranteed Notes, 9.13%, due 5/15/19
|
|
632,938
|
|
|
|
|
780,000
|
|
Shea Homes L.P., Senior Secured Notes, 8.63%, due 5/15/19
|
|
848,250
|
|
|
|
|
490,000
|
|
Standard Pacific Corp., Guaranteed Notes, 8.38%, due 1/15/21
|
|
550,025
|
|
|
|
|
2,031,213
|
|
|
|
Building Materials (2.2%)
|
|
|
|
905,000
|
|
Masco Corp., Senior Unsecured Notes, 6.13%, due 10/3/16
|
|
972,794
|
|
|
|
|
750,000
|
|
Ply Gem Industries, Inc., Senior Secured Notes, 8.25%, due 2/15/18
|
|
778,125
|
|
|
|
|
1,760,000
|
|
USG Corp., Senior Unsecured Notes, 9.75%, due 1/15/18
|
|
1,878,800
|
|
|
|
|
2,050,000
|
|
USG Corp., Guaranteed Notes, 8.38%, due 10/15/18
|
|
2,193,500
|
ñ
|
|
|
|
5,823,219
|
|
|
|
Chemicals (4.4%)
|
|
|
|
485,000
|
|
Huntsman Int'l LLC, Guaranteed Notes, 8.63%, due 3/15/20
|
|
552,900
|
|
|
|
|
895,000
|
|
Huntsman Int'l LLC, Guaranteed Notes, 8.63%, due 3/15/21
|
|
1,029,250
|
|
|
|
|
3,575,000
|
|
LyondellBasell Industries NV, Senior Unsecured Notes, 5.00%, due 4/15/19
|
|
3,878,875
|
ØØ
|
|
|
|
725,000
|
|
LyondellBasell Industries NV, Senior Unsecured Notes, 6.00%, due 11/15/21
|
|
833,750
|
|
|
|
|
245,000
|
|
LyondellBasell Industries NV, Senior Unsecured Notes, 5.75%, due 4/15/24
|
|
277,462
|
|
|
|
|
2,250,000
|
|
Momentive Performance Materials, Inc., Senior Secured Notes, 10.00%, due 10/15/20
|
|
2,278,125
|
ñ
|
|
|
|
4,255,000
|
|
Momentive Performance Materials, Inc., Secured Notes, 9.00%, due 1/15/21
|
|
3,106,150
|
|
|
|
|
11,956,512
|
|
|
|
Computer Hardware (0.6%)
|
|
|
|
1,505,000
|
|
Seagate HDD Cayman, Guaranteed Notes, 7.00%, due 11/1/21
|
|
1,634,806
|
|
|
Consumer - Commercial Lease Financing (7.1%)
|
|
|
|
415,000
|
|
American General Finance, Inc., Senior Unsecured Medium-Term Notes, Ser. I, 5.40%, due 12/1/15
|
|
356,900
|
|
|
|
|
780,000
|
|
CIT Group, Inc., Guaranteed Notes, 7.00%, due 5/2/16
|
|
783,900
|
ñ
|
|
|
|
1,539,867
|
|
CIT Group, Inc., Guaranteed Notes, 7.00%, due 5/2/17
|
|
1,547,566
|
ñ
|
|
|
|
1,915,000
|
|
CIT Group, Inc., Senior Unsecured Notes, 6.63%, due 4/1/18
|
|
2,096,925
|
ñ
|
|
|
|
3,645,000
|
|
CIT Group, Inc., Senior Unsecured Notes, 5.50%, due 2/15/19
|
|
3,845,475
|
ñØØ
|
|
|
|
4,545,000
|
|
Int'l Lease Finance Corp., Senior Unsecured Notes, 8.63%, due 9/15/15
|
|
5,124,487
|
|
|
|
|
2,190,000
|
|
Int'l Lease Finance Corp., Senior Unsecured Notes, 8.75%, due 3/15/17
|
|
2,548,613
|
|
|
|
|
690,000
|
|
Int'l Lease Finance Corp., Senior Unsecured Notes, 8.88%, due 9/1/17
|
|
807,300
|
|
|
|
|
1,935,000
|
|
Int'l Lease Finance Corp., Senior Unsecured Notes, 6.25%, due 5/15/19
|
|
2,034,169
|
|
|
|
|
19,145,335
|
|
|
|
|
|
|
|
|
|
|
Consumer Products (0.4%)
|
|
|
|
1,100,000
|
|
PC Merger Sub, Inc., Senior Notes, 8.88%, due 8/1/20
|
|
1,138,500
|
ñ
|
|
Department Stores (1.6%)
|
|
|
|
4,789,000
|
|
Sears Holdings Corp., Secured Notes, 6.63%, due 10/15/18
|
|
4,292,141
|
|
|
Electric - Generation (4.3%)
|
|
|
|
635,000
|
|
Calpine Corp., Senior Secured Notes, 7.25%, due 10/15/17
|
|
687,388
|
ñ
|
|
|
|
745,000
|
|
Calpine Corp., Senior Secured Notes, 7.88%, due 7/31/20
|
|
839,988
|
ñ
|
|
|
|
1,250,000
|
|
Edison Mission Energy, Senior Unsecured Notes, 7.75%, due 6/15/16
|
|
687,500
|
|
|
|
|
1,360,000
|
|
Edison Mission Energy, Senior Unsecured Notes, 7.00%, due 5/15/17
|
|
741,200
|
|
|
|
|
3,805,000
|
|
Edison Mission Energy, Senior Unsecured Notes, 7.20%, due 5/15/19
|
|
2,045,188
|
|
|
|
|
720,000
|
|
Edison Mission Energy, Senior Unsecured Notes, 7.63%, due 5/15/27
|
|
382,500
|
|
|
|
|
565,000
|
|
NRG Energy, Inc., Guaranteed Notes, 7.63%, due 1/15/18
|
|
601,725
|
|
|
|
|
2,045,000
|
|
NRG Energy, Inc., Guaranteed Notes, 8.25%, due 9/1/20
|
|
2,203,487
|
|
|
|
|
3,315,000
|
|
NRG Energy, Inc., Guaranteed Notes, 7.88%, due 5/15/21
|
|
3,522,187
|
ØØ
|
|
|
|
11,711,163
|
|
|
|
Electric - Integrated (1.3%)
|
|
|
|
435,000
|
|
CMS Energy Corp., Senior Unsecured Notes, 6.55%, due 7/17/17
|
|
498,163
|
|
|
|
|
450,000
|
|
CMS Energy Corp., Senior Unsecured Notes, 5.05%, due 2/15/18
|
|
489,615
|
|
|
|
|
1,735,000
|
|
IPALCO Enterprises, Inc., Senior Secured Notes, 7.25%, due 4/1/16
|
|
1,934,525
|
ñ
|
|
|
|
500,000
|
|
IPALCO Enterprises, Inc., Senior Secured Notes, 5.00%, due 5/1/18
|
|
515,000
|
|
|
|
|
3,437,303
|
|
|
|
Electronics (2.7%)
|
|
|
|
1,645,000
|
|
Ceridian Corp., Guaranteed Notes, 11.25%, due 11/15/15
|
|
1,612,100
|
|
|
|
|
2,435,125
|
|
Ceridian Corp., Guaranteed Notes, 12.25%, due 11/15/15
|
|
2,416,862
|
|
|
|
|
1,230,000
|
|
Ceridian Corp., Senior Secured Notes, 8.88%, due 7/15/19
|
|
1,294,575
|
ñ
|
|
|
|
935,000
|
|
Freescale Semiconductor, Inc., Senior Secured Notes, 9.25%, due 4/15/18
|
|
1,000,450
|
ñ
|
|
|
|
855,000
|
|
NXP BV Funding LLC, Senior Secured Notes, 9.75%, due 8/1/18
|
|
978,975
|
ñ
|
|
|
|
7,302,962
|
|
|
|
Energy - Exploration & Production (14.4%)
|
|
|
|
471,000
|
|
ATP Oil & Gas Corp., Secured Notes, 11.88%, due 5/1/15
|
|
181,335
|
|
|
|
|
225,000
|
|
Chesapeake Energy Corp., Guaranteed Notes, 6.88%, due 8/15/18
|
|
225,563
|
|
|
|
|
1,250,000
|
|
Chesapeake Energy Corp., Guaranteed Notes, 7.25%, due 12/15/18
|
|
1,287,500
|
|
|
|
|
2,010,000
|
|
Chesapeake Energy Corp., Guaranteed Notes, 6.63%, due 8/15/20
|
|
1,999,950
|
|
|
|
|
3,165,000
|
|
Chesapeake Energy Corp., Guaranteed Notes, 6.13%, due 2/15/21
|
|
3,093,787
|
|
|
|
|
1,100,000
|
|
Cimarex Energy Co., Guaranteed Notes, 5.88%, due 5/1/22
|
|
1,171,500
|
|
|
|
|
2,850,000
|
|
Denbury Resources, Inc., Guaranteed Notes, 8.25%, due 2/15/20
|
|
3,206,250
|
ØØ
|
|
|
|
3,787,000
|
|
Everest Acquisition LLC, Senior Unsecured Notes, 9.38%, due 5/1/20
|
|
4,075,759
|
ñØØ
|
|
|
|
3,590,000
|
|
EXCO Resources, Inc., Guaranteed Notes, 7.50%, due 9/15/18
|
|
3,248,950
|
ØØ
|
|
|
|
2,205,000
|
|
Linn Energy LLC, Guaranteed Notes, 6.25%, due 11/1/19
|
|
2,182,950
|
ñ
|
|
|
|
1,255,000
|
|
Linn Energy LLC, Guaranteed Notes, 8.63%, due 4/15/20
|
|
1,361,675
|
|
|
|
|
2,260,000
|
|
Linn Energy LLC, Guaranteed Notes, 7.75%, due 2/1/21
|
|
2,384,300
|
|
|
|
|
1,555,000
|
|
Newfield Exploration Co., Senior Unsecured Notes, 5.75%, due 1/30/22
|
|
1,679,400
|
|
|
|
|
930,000
|
|
Plains Exploration & Production Co., Guaranteed Notes, 7.63%, due 6/1/18
|
|
995,100
|
|
|
|
|
845,000
|
|
Plains Exploration & Production Co., Guaranteed Notes, 8.63%, due 10/15/19
|
|
950,625
|
|
|
|
|
805,000
|
|
Plains Exploration & Production Co., Guaranteed Notes, 6.63%, due 5/1/21
|
|
853,300
|
|
|
|
|
2,345,000
|
|
Plains Exploration & Production Co., Guaranteed Notes, 6.75%, due 2/1/22
|
|
2,509,150
|
|
|
|
|
140,000
|
|
Range Resources Corp., Guaranteed Notes, 8.00%, due 5/15/19
|
|
155,050
|
|
|
|
|
500,000
|
|
Range Resources Corp., Guaranteed Notes, 5.75%, due 6/1/21
|
|
531,250
|
|
|
|
|
690,000
|
|
Range Resources Corp., Guaranteed Notes, 5.00%, due 8/15/22
|
|
710,700
|
|
|
|
|
1,805,000
|
|
SandRidge Energy, Inc., Guaranteed Notes, 8.00%, due 6/1/18
|
|
1,877,200
|
ñ
|
|
|
|
1,053,000
|
|
WPX Energy, Inc., Senior Unsecured Notes, 5.25%, due 1/15/17
|
|
1,079,325
|
|
|
|
|
2,805,000
|
|
WPX Energy, Inc., Senior Unsecured Notes, 6.00%, due 1/15/22
|
|
2,861,100
|
|
|
|
|
38,621,719
|
|
|
|
Food & Drug Retailers (1.1%)
|
|
|
|
675,000
|
|
Rite Aid Corp., Guaranteed Notes, 9.50%, due 6/15/17
|
|
691,031
|
|
|
|
|
560,000
|
|
Rite Aid Corp., Secured Notes, 10.25%, due 10/15/19
|
|
631,400
|
|
|
|
|
1,442,000
|
|
Rite Aid Corp., Senior Secured Notes, 8.00%, due 8/15/20
|
|
1,624,053
|
|
|
|
|
2,946,484
|
|
|
|
|
|
|
|
|
|
|
Gaming (4.7%)
|
|
|
|
465,000
|
|
Boyd Gaming Corp., Senior Subordinated Notes, 7.13%, due 2/1/16
|
|
448,725
|
|
|
|
|
1,090,000
|
|
CityCenter Holdings LLC, Senior Secured Notes, 7.63%, due 1/15/16
|
|
1,145,862
|
ñ
|
|
|
|
725,000
|
|
CityCenter Holdings LLC, Senior Secured Notes, 7.63%, due 1/15/16
|
|
763,969
|
|
|
|
|
1,605,271
|
|
CityCenter Holdings LLC, Secured Notes, 10.75%, due 1/15/17
|
|
1,691,554
|
|
|
|
|
975,000
|
|
MGM Mirage, Inc., Guaranteed Notes, 7.50%, due 6/1/16
|
|
1,007,906
|
|
|
|
|
730,000
|
|
MGM Mirage, Inc., Senior Secured Notes, 9.00%, due 3/15/20
|
|
813,038
|
|
|
|
|
3,745,000
|
|
MGM Resorts Int'l, Guaranteed Notes, 7.75%, due 3/15/22
|
|
3,754,362
|
ØØ
|
|
|
|
890,979
|
|
Pinnacle Entertainment, Inc., Guaranteed Notes, 7.75%, due 4/1/22
|
|
953,348
|
|
|
|
|
1,090,000
|
|
Seminole Indian Tribe of Florida, Notes, 7.75%, due 10/1/17
|
|
1,190,825
|
ñ
|
|
|
|
691,000
|
|
Wynn Las Vegas LLC, 1st Mortgage, 7.75%, due 8/15/20
|
|
767,010
|
|
|
|
|
12,536,599
|
|
|
|
Gas Distribution (8.7%)
|
|
|
|
25,000
|
|
Access Midstream Partners L.P., Guaranteed Notes, 5.88%, due 4/15/21
|
|
24,938
|
|
|
|
|
1,740,000
|
|
Access Midstream Partners L.P., Guaranteed Notes, 6.13%, due 7/15/22
|
|
1,753,050
|
|
|
|
|
1,710,000
|
|
AmeriGas Finance LLC, Guaranteed Notes, 6.75%, due 5/20/20
|
|
1,808,325
|
|
|
|
|
1,825,000
|
|
AmeriGas Finance LLC, Guaranteed Notes, 7.00%, due 5/20/22
|
|
1,939,062
|
|
|
|
|
970,000
|
|
El Paso Corp., Senior Unsecured Notes, 7.00%, due 6/15/17
|
|
1,111,450
|
|
|
|
|
280,000
|
|
El Paso Corp., Senior Unsecured Notes, 7.25%, due 6/1/18
|
|
322,984
|
|
|
|
|
1,145,000
|
|
El Paso Corp., Senior Unsecured Global Medium-Term Notes, 7.75%, due 1/15/32
|
|
1,341,021
|
|
|
|
|
1,315,000
|
|
El Paso Energy Corp., Senior Unsecured Global Medium-Term Notes, 7.80%, due 8/1/31
|
|
1,528,486
|
|
|
|
|
2,700,000
|
|
Energy Transfer Equity L.P., Senior Secured Notes, 7.50%, due 10/15/20
|
|
3,084,750
|
ØØ
|
|
|
|
1,990,000
|
|
Ferrellgas L.P., Senior Unsecured Notes, 9.13%, due 10/1/17
|
|
2,129,300
|
|
|
|
|
1,135,000
|
|
Inergy L.P., Guaranteed Notes, 7.00%, due 10/1/18
|
|
1,171,887
|
|
|
|
|
785,000
|
|
Inergy L.P., Guaranteed Notes, 6.88%, due 8/1/21
|
|
806,587
|
|
|
|
|
1,295,000
|
|
Kinder Morgan Finance Co., Guaranteed Notes, 5.70%, due 1/5/16
|
|
1,377,624
|
|
|
|
|
810,000
|
|
Kinder Morgan Finance Co., Senior Secured Notes, 6.00%, due 1/15/18
|
|
860,208
|
ñ
|
|
|
|
2,505,000
|
|
MarkWest Energy Partners L.P., Guaranteed Notes, Ser. B, 8.75%, due 4/15/18
|
|
2,667,825
|
|
|
|
|
1,360,000
|
|
Regency Energy Partners L.P., Guaranteed Notes, 6.88%, due 12/1/18
|
|
1,455,200
|
|
|
|
|
23,382,697
|
|
|
|
Health Facilities (6.1%)
|
|
|
|
695,000
|
|
Columbia Healthcare Corp., Senior Unsecured Notes, 7.50%, due 12/15/23
|
|
675,887
|
|
|
|
|
800,000
|
|
Columbia/HCA Corp., Senior Unsecured Notes, 7.69%, due 6/15/25
|
|
778,000
|
|
|
|
|
545,000
|
|
Columbia/HCA Corp., Senior Unsecured Notes, 7.05%, due 12/1/27
|
|
497,313
|
|
|
|
|
835,000
|
|
HCA, Inc., Senior Secured Notes, 8.50%, due 4/15/19
|
|
940,941
|
|
|
|
|
2,340,000
|
|
HCA, Inc., Senior Secured Notes, 6.50%, due 2/15/20
|
|
2,614,950
|
|
|
|
|
950,000
|
|
HCA, Inc., Senior Secured Notes, 7.88%, due 2/15/20
|
|
1,068,750
|
|
|
|
|
1,495,000
|
|
HCA, Inc., Senior Secured Notes, 5.88%, due 3/15/22
|
|
1,608,994
|
|
|
|
|
2,090,000
|
|
OMEGA Healthcare Investors, Inc., Guaranteed Notes, 6.75%, due 10/15/22
|
|
2,309,450
|
|
|
|
|
555,000
|
|
Tenet Healthcare Corp., Senior Unsecured Notes, 9.25%, due 2/1/15
|
|
620,212
|
|
|
|
|
2,225,000
|
|
Tenet Healthcare Corp., Senior Secured Notes, 8.88%, due 7/1/19
|
|
2,522,594
|
|
|
|
|
2,210,000
|
|
United Surgical Partners Int'l, Inc., Senior Unsecured Notes, 9.00%, due 4/1/20
|
|
2,381,275
|
ñ
|
|
|
|
470,000
|
|
Universal Health Services, Inc., Senior Secured Notes, 7.13%, due 6/30/16
|
|
537,562
|
|
|
|
|
16,555,928
|
|
|
|
Hotels (0.7%)
|
|
|
|
1,670,000
|
|
Host Hotels & Resorts L.P., Unsubordinated Notes, Series W, 5.88%, due 6/15/19
|
|
1,832,825
|
|
|
|
|
180,000
|
|
Host Hotels & Resorts L.P., Senior Unsecured Notes, 6.00%, due 10/1/21
|
|
202,050
|
|
|
|
|
2,034,875
|
|
|
|
Investments & Misc. Financial Services (2.5%)
|
|
|
|
3,680,000
|
|
Icahn Enterprises L.P., Guaranteed Notes, 7.75%, due 1/15/16
|
|
3,868,600
|
ØØ
|
|
|
|
1,885,000
|
|
Icahn Enterprises L.P., Guaranteed Notes, 8.00%, due 1/15/18
|
|
2,002,813
|
ñ
|
|
|
|
850,000
|
|
Icahn Enterprises L.P., Guaranteed Notes, 8.00%, due 1/15/18
|
|
903,125
|
|
|
|
|
6,774,538
|
|
|
|
|
|
|
|
|
|
|
Leisure (0.5%)
|
|
|
|
1,155,000
|
|
Cedar Fair L.P., Guaranteed Notes, 9.13%, due 8/1/18
|
|
1,300,097
|
|
|
Machinery (2.1%)
|
|
|
|
2,845,000
|
|
Case New Holland, Inc., Guaranteed Notes, 7.88%, due 12/1/17
|
|
3,335,763
|
ØØ
|
|
|
|
510,000
|
|
Terex Corp., Senior Subordinated Notes, 8.00%, due 11/15/17
|
|
536,775
|
|
|
|
|
680,000
|
|
Terex Corp., Guaranteed Notes, 6.50%, due 4/1/20
|
|
703,800
|
|
|
|
|
910,000
|
|
The Manitowoc Co., Inc., Guaranteed Notes, 8.50%, due 11/1/20
|
|
991,900
|
ØØ
|
|
|
|
5,568,238
|
|
|
|
Media - Broadcast (4.7%)
|
|
|
|
685,000
|
|
AMC Networks, Inc., Guaranteed Notes, 7.75%, due 7/15/21
|
|
775,762
|
|
|
|
|
2,240,000
|
|
Clear Channel Communications, Inc., Senior Unsecured Notes, 5.50%, due 9/15/14
|
|
1,853,600
|
|
|
|
|
2,410,000
|
|
Clear Channel Communications, Inc., Guaranteed Notes, 10.75%, due 8/1/16
|
|
1,397,800
|
|
|
|
|
2,095,000
|
|
Cumulus Media Holdings, Inc., Guaranteed Notes, 7.75%, due 5/1/19
|
|
2,032,150
|
|
|
|
|
1,330,000
|
|
Sirius XM Radio, Inc., Guaranteed Notes, 8.75%, due 4/1/15
|
|
1,509,550
|
ñ
|
|
|
|
1,080,000
|
|
Univision Communications, Inc., Senior Secured Notes, 6.88%, due 5/15/19
|
|
1,123,200
|
ñ
|
|
|
|
375,000
|
|
Univision Communications, Inc., Senior Secured Notes, 7.88%, due 11/1/20
|
|
404,063
|
ñ
|
|
|
|
1,405,000
|
|
Univision Communications, Inc., Guaranteed Notes, 8.50%, due 5/15/21
|
|
1,419,050
|
ñ
|
|
|
|
885,000
|
|
XM Satellite Radio, Inc., Guaranteed Notes, 13.00%, due 8/1/13
|
|
982,350
|
ñ
|
|
|
|
1,055,000
|
|
XM Satellite Radio, Inc., Guaranteed Notes, 7.63%, due 11/1/18
|
|
1,144,675
|
ñ
|
|
|
|
12,642,200
|
|
|
|
Media - Cable (6.4%)
|
|
|
|
1,440,000
|
|
CCO Holdings LLC, Guaranteed Notes, 7.25%, due 10/30/17
|
|
1,582,200
|
|
|
|
|
210,000
|
|
CCO Holdings LLC, Guaranteed Notes, 7.88%, due 4/30/18
|
|
229,163
|
|
|
|
|
70,000
|
|
CCO Holdings LLC, Guaranteed Notes, 7.00%, due 1/15/19
|
|
76,825
|
|
|
|
|
1,040,000
|
|
CCO Holdings LLC, Guaranteed Notes, 8.13%, due 4/30/20
|
|
1,175,200
|
|
|
|
|
2,020,000
|
|
Cequel Communications Holdings I LLC/Cequel Capital Corp., Senior Unsecured Notes, 8.63%, due 11/15/17
|
|
2,176,550
|
ñ
|
|
|
|
1,060,000
|
|
CSC Holdings LLC, Senior Unsecured Notes, 7.63%, due 7/15/18
|
|
1,200,450
|
|
|
|
|
2,280,000
|
|
CSC Holdings LLC, Senior Unsecured Notes, 6.75%, due 11/15/21
|
|
2,485,200
|
ñ
|
|
|
|
485,000
|
|
DISH DBS Corp., Guaranteed Notes, 7.75%, due 5/31/15
|
|
542,594
|
|
|
|
|
1,350,000
|
|
DISH DBS Corp., Guaranteed Notes, 6.75%, due 6/1/21
|
|
1,476,562
|
|
|
|
|
5,405,000
|
|
DISH DBS Corp., Guaranteed Notes, 5.88%, due 7/15/22
|
|
5,567,150
|
ñ
|
|
|
|
530,000
|
|
EchoStar DBS Corp., Guaranteed Notes, 7.13%, due 2/1/16
|
|
584,987
|
|
|
|
|
17,096,881
|
|
|
|
Media - Services (1.8%)
|
|
|
|
650,000
|
|
Clear Channel Worldwide Holdings, Inc., Guaranteed Notes, Ser. B, 9.25%, due 12/15/17
|
|
702,000
|
|
|
|
|
450,000
|
|
Clear Channel Worldwide Holdings, Inc., Guaranteed Notes, 7.63%, due 3/15/20
|
|
430,875
|
ñ
|
|
|
|
135,000
|
|
WMG Acquisition Corp., Senior Secured Notes, 9.50%, due 6/15/16
|
|
147,994
|
|
|
|
|
3,320,000
|
|
WMG Acquisition Corp., Senior Secured Notes, 9.50%, due 6/15/16
|
|
3,647,850
|
ØØ
|
|
|
|
4,928,719
|
|
|
|
Medical Products (1.5%)
|
|
|
|
1,170,000
|
|
Fresenius Medical Care US Finance II, Inc., Guaranteed Notes, 5.63%, due 7/31/19
|
|
1,256,287
|
ñ
|
|
|
|
410,000
|
|
Fresenius Medical Care US Finance II, Inc., Guaranteed Notes, 5.88%, due 1/31/22
|
|
438,188
|
ñ
|
|
|
|
1,520,000
|
|
Fresenius Medical Care US Finance, Inc., Guaranteed Notes, 6.50%, due 9/15/18
|
|
1,696,700
|
ñ
|
|
|
|
645,000
|
|
Hologic, Inc., Guaranteed Notes, 6.25%, due 8/1/20
|
|
682,088
|
ñØ
|
|
|
|
4,073,263
|
|
|
|
Metals - Mining Excluding Steel (3.7%)
|
|
|
|
700,000
|
|
Arch Coal, Inc., Guaranteed Notes, 8.75%, due 8/1/16
|
|
684,250
|
|
|
|
|
1,215,000
|
|
Arch Coal, Inc., Guaranteed Notes, 7.25%, due 10/1/20
|
|
1,054,013
|
|
|
|
|
755,000
|
|
Arch Coal, Inc., Guaranteed Notes, 7.25%, due 6/15/21
|
|
653,075
|
|
|
|
|
4,625,000
|
|
FMG Resources (August 2006) Pty Ltd., Guaranteed Notes, 7.00%, due 11/1/15
|
|
4,740,625
|
ñ
|
|
|
|
|
|
|
|
|
|
|
1,185,000
|
|
FMG Resources (August 2006) Pty Ltd., Senior Unsecured Notes, 6.00%, due 4/1/17
|
|
1,182,037
|
ñ
|
|
|
|
375,000
|
|
FMG Resources (August 2006) Pty Ltd., Senior Unsecured Notes, 6.88%, due 4/1/22
|
|
374,063
|
ñ
|
|
|
|
1,200,000
|
|
Peabody Energy Corp., Guaranteed Notes, 6.00%, due 11/15/18
|
|
1,200,000
|
ñ
|
|
|
|
9,888,063
|
|
|
|
Packaging (6.0%)
|
|
|
|
2,635,000
|
|
Berry Plastics Corp., Secured Notes, 9.50%, due 5/15/18
|
|
2,878,737
|
ØØ
|
|
|
|
5,125,000
|
|
Berry Plastics Corp., Secured Notes, 9.75%, due 1/15/21
|
|
5,740,000
|
ØØ
|
|
|
|
1,040,000
|
|
Owens-Brockway Glass Container, Inc., Guaranteed Notes, 7.38%, due 5/15/16
|
|
1,172,600
|
|
|
|
|
2,590,000
|
|
Reynolds Group Issuer, Inc., Senior Secured Notes, 7.88%, due 8/15/19
|
|
2,855,475
|
|
|
|
|
2,130,000
|
|
Reynolds Group Issuer, Inc., Senior Secured Notes, 9.88%, due 8/15/19
|
|
2,257,800
|
ñ
|
|
|
|
1,065,000
|
|
Reynolds Group Issuer, Inc., Senior Secured Notes, 6.88%, due 2/15/21
|
|
1,134,225
|
|
|
|
|
16,038,837
|
|
|
|
Pharmaceuticals (1.5%)
|
|
|
|
1,055,000
|
|
Endo Pharmaceuticals Holdings, Inc., Guaranteed Notes, 7.00%, due 7/15/19
|
|
1,165,775
|
|
|
|
|
1,445,000
|
|
Jaguar Holding Co., Senior Unsecured Notes, 9.50%, due 12/1/19
|
|
1,605,756
|
ñ
|
|
|
|
475,000
|
|
Valeant Pharmaceuticals Int'l, Guaranteed Notes, 6.50%, due 7/15/16
|
|
503,500
|
ñ
|
|
|
|
630,000
|
|
Valeant Pharmaceuticals Int'l, Guaranteed Notes, 6.75%, due 10/1/17
|
|
670,950
|
ñ
|
|
|
|
3,945,981
|
|
|
|
Printing & Publishing (5.1%)
|
|
|
|
334,000
|
|
Cengage Learning Acquisitions, Inc., Secured Notes, 12.00%, due 6/30/19
|
|
286,405
|
ñ
|
|
|
|
935,000
|
|
Cengage Learning Acquisitions, Inc., Senior Secured Notes, 11.50%, due 4/15/20
|
|
974,737
|
ñ
|
|
|
|
1,195,000
|
|
Gannett Co., Inc., Guaranteed Notes, 9.38%, due 11/15/17
|
|
1,347,362
|
|
|
|
|
2,305,000
|
|
Gannett Co., Inc., Guaranteed Notes, 7.13%, due 9/1/18
|
|
2,547,025
|
|
|
|
|
885,000
|
|
R. R. Donnelley & Sons Co., Senior Unsecured Notes, 8.60%, due 8/15/16
|
|
953,588
|
|
|
|
|
4,735,000
|
|
R. R. Donnelley & Sons Co., Senior Unsecured Notes, 7.25%, due 5/15/18
|
|
4,687,650
|
ØØ
|
|
|
|
1,660,000
|
|
R. R. Donnelley & Sons Co., Senior Unsecured Notes, 8.25%, due 3/15/19
|
|
1,672,450
|
|
|
|
|
1,200,000
|
|
R. R. Donnelley & Sons Co., Senior Unsecured Notes, 7.63%, due 6/15/20
|
|
1,179,000
|
|
|
|
|
13,648,217
|
|
|
|
Real Estate Dev. & Mgt. (0.4%)
|
|
|
|
1,005,000
|
|
Realogy Corp., Senior Secured Notes, 7.63%, due 1/15/20
|
|
1,079,119
|
ñ
|
|
Software - Services (3.5%)
|
|
|
|
820,000
|
|
Fidelity National Information Services, Inc., Guaranteed Notes, 7.88%, due 7/15/20
|
|
924,550
|
|
|
|
|
3,450,000
|
|
First Data Corp., Guaranteed Notes, 11.25%, due 3/31/16
|
|
3,286,125
|
ØØ
|
|
|
|
1,055,000
|
|
First Data Corp., Senior Secured Notes, 7.38%, due 6/15/19
|
|
1,101,156
|
ñ
|
|
|
|
1,420,000
|
|
Sophia, L.P., Guaranteed Notes, 9.75%, due 1/15/19
|
|
1,540,700
|
ñ
|
|
|
|
515,000
|
|
SunGard Data Systems, Inc., Guaranteed Notes, 7.38%, due 11/15/18
|
|
547,188
|
|
|
|
|
515,000
|
|
SunGard Data Systems, Inc., Guaranteed Notes, 7.63%, due 11/15/20
|
|
552,981
|
|
|
|
|
1,395,000
|
|
Syniverse Holdings, Inc., Guaranteed Notes, 9.13%, due 1/15/19
|
|
1,524,037
|
|
|
|
|
9,476,737
|
|
|
|
Specialty Retail (2.1%)
|
|
|
|
3,765,000
|
|
Toys "R" Us Property Co. I LLC, Guaranteed Notes, 10.75%, due 7/15/17
|
|
4,160,325
|
ØØ
|
|
|
|
1,358,000
|
|
Toys “R” Us Property Co. II LLC, Senior Secured Notes, 8.50%, due 12/1/17
|
|
1,466,640
|
|
|
|
|
5,626,965
|
|
|
|
Support - Services (1.0%)
|
|
|
|
990,000
|
|
Iron Mountain, Inc., Guaranteed Notes, 7.75%, due 10/1/19
|
|
1,098,900
|
|
|
|
|
1,240,000
|
|
Knowledge Learning Corp., Inc., Guaranteed Notes, 7.75%, due 2/1/15
|
|
1,035,400
|
ñ
|
|
|
|
570,000
|
|
RSC Equipment Rental, Inc., Senior Unsecured Notes, 8.25%, due 2/1/21
|
|
618,450
|
|
|
|
|
2,752,750
|
|
|
|
Telecom - Integrated Services (9.0%)
|
|
|
|
460,000
|
|
CenturyLink, Inc., Senior Unsecured Notes, Ser. S, 6.45%, due 6/15/21
|
|
507,614
|
|
|
|
|
3,500,000
|
|
Citizens Communications Co., Senior Unsecured Notes, 9.00%, due 8/15/31
|
|
3,447,500
|
ØØ
|
|
|
|
|
|
|
|
|
|
|
595,000
|
|
Frontier Communications Corp., Senior Unsecured Notes, 8.25%, due 4/15/17
|
|
651,525
|
|
|
|
|
575,000
|
|
Frontier Communications Corp., Senior Unsecured Notes, 8.50%, due 4/15/20
|
|
622,438
|
|
|
|
|
2,200,000
|
|
Frontier Communications Corp., Senior Unsecured Notes, 9.25%, due 7/1/21
|
|
2,420,000
|
|
|
|
|
1,205,000
|
|
Integra Telecom Holdings, Inc., Senior Secured Notes, 10.75%, due 4/15/16
|
|
1,205,000
|
ñ
|
|
|
|
878,290
|
|
Intelsat Bermuda Ltd., Guaranteed Notes, 11.50%, due 2/4/17
|
|
913,422
|
|
|
|
|
670,000
|
|
Intelsat Jackson Holdings SA, Guaranteed Notes, 8.50%, due 11/1/19
|
|
745,375
|
|
|
|
|
355,000
|
|
Level 3 Communications, Inc., Senior Unsecured Notes, 8.88%, due 6/1/19
|
|
361,213
|
ñØ
|
|
|
|
500,000
|
|
Level 3 Financing, Inc., Guaranteed Notes, 8.75%, due 2/15/17
|
|
521,875
|
|
|
|
|
1,370,000
|
|
Level 3 Financing, Inc., Guaranteed Notes, 8.13%, due 7/1/19
|
|
1,441,925
|
|
|
|
|
1,225,000
|
|
Level 3 Financing, Inc., Guaranteed Notes, 8.63%, due 7/15/20
|
|
1,313,812
|
|
|
|
|
1,280,000
|
|
PAETEC Holding Corp., Senior Secured Notes, 8.88%, due 6/30/17
|
|
1,385,600
|
|
|
|
|
510,000
|
|
PAETEC Holding Corp., Guaranteed Notes, 9.88%, due 12/1/18
|
|
575,025
|
|
|
|
|
1,475,000
|
|
Qwest Communications Int'l, Inc., Guaranteed Notes, 7.13%, due 4/1/18
|
|
1,569,031
|
|
|
|
|
640,000
|
|
Qwest Corp., Senior Unsecured Notes, 6.75%, due 12/1/21
|
|
746,532
|
|
|
|
|
1,649,000
|
|
U.S. West Communications Group, Senior Unsecured Notes, 6.88%, due 9/15/33
|
|
1,661,367
|
|
|
|
|
500,000
|
|
Windstream Corp., Guaranteed Notes, 7.88%, due 11/1/17
|
|
549,375
|
|
|
|
|
460,000
|
|
Windstream Corp., Guaranteed Notes, 7.75%, due 10/15/20
|
|
489,900
|
|
|
|
|
1,610,000
|
|
Windstream Corp., Guaranteed Notes, 7.75%, due 10/1/21
|
|
1,722,700
|
ØØ
|
|
|
|
1,195,000
|
|
Windstream Corp., Guaranteed Notes, 7.50%, due 6/1/22
|
|
1,248,775
|
|
|
|
|
24,100,004
|
|
|
|
Telecom - Wireless (4.7%)
|
|
|
|
1,018,000
|
|
Cricket Communications, Inc., Senior Secured Notes, 7.75%, due 5/15/16
|
|
1,079,080
|
|
|
|
|
570,000
|
|
SBA Telecommunications, Inc., Guaranteed Notes, 5.75%, due 7/15/20
|
|
599,925
|
ñ
|
|
|
|
3,915,000
|
|
Sprint Capital Corp., Guaranteed Notes, 6.88%, due 11/15/28
|
|
3,503,925
|
ØØ
|
|
|
|
2,980,000
|
|
Sprint Capital Corp., Guaranteed Notes, 8.75%, due 3/15/32
|
|
2,965,100
|
|
|
|
|
475,000
|
|
Sprint Nextel Corp., Guaranteed Notes, 9.00%, due 11/15/18
|
|
554,562
|
ñ
|
|
|
|
1,147,000
|
|
Sprint Nextel Corp., Guaranteed Notes, 7.00%, due 3/1/20
|
|
1,250,230
|
ñ
|
|
|
|
865,000
|
|
Wind Acquisition Finance SA, Senior Secured Notes, 7.25%, due 2/15/18
|
|
769,850
|
ñ
|
|
|
|
2,035,000
|
|
Wind Acquisition Finance SA, Senior Secured Notes, 7.25%, due 2/15/18
|
|
1,800,975
|
ñ
|
|
|
|
12,523,647
|
|
|
|
|
Total Corporate Debt Securities (Cost
$323,224,889)
|
|
336,046,151
|
|
|
NUMBER OF SHARES
|
|
Short-Term Investments (3.1%)
|
|
|
|
8,379,328
|
|
State Street Institutional Liquid Reserves Fund Institutional Class
(Cost $8,379,328)
|
|
|
8,379,328
|
|
|
|
|
|
|
|
|
|
Total Investments (140.5%) (Cost $364,837,773)
|
|
377,779,393
|
##
|
|
|
|
|
|
|
|
|
Liabilities, less cash, receivables and other assets [(30.4%)]
|
|
(81,680,357)
|
Øر
|
|
|
|
|
|
|
Liquidation Value of Perpetual Preferred Shares [(10.1%)]
|
|
(27,175,000)
|
|
|
|
|
|
|
|
|
Total Net Assets Applicable to Common Shareholders (100.0%)
|
$268,924,036
|
|
|
|