High Income Securities Fund  (NYSE: PCF)

A closed-end fund seeking high current income and capital appreciation by investing primarily in corporate and convertible bonds and preferred stock.

Morningstar ratings as of 12/31/17
Convertibles-Clsd End (funds in category)
Overall
(9)
3 yrs.
(9)
5 yrs.
(9)
10 yrs.
(9)

Objective

Formerly Putnam High Income Bond Fund. The fund seeks to provide high current income as a primary objective and capital appreciation as a secondary objective. The fund pursues its objective by investing in both convertible bonds and convertible preferred stocks, which share many of the same characteristics as convertible bonds, but offer greater potential for capital appreciation.

Daily pricing as of 01/17/18

Ticker NYSE: PCF
Net asset value $9.87
Net asset value change 0.04
Market price $9.10
Market price change -0.01
Discount/Premium -7.80%
Dividend rate at net asset value 3.44%
Dividend rate at market price 3.74%

Fund facts as of 12/31/17

Inception date
07/09/87
Total net assets
$125.39M
Dividend frequency
Monthly
Number of holdings
585
Product status
Trades on secondary market
Common share CUSIP
746779107
Ticker
NYSE: PCF
Fiscal year-end
August
Category
Closed End
Turnover (fiscal year end)
50%
Number of common share accounts
--
Outstanding common shares
-
AMT
N/A

Management team


Portfolio Manager



Performance

  • Performance as of 12/31/17

  • Annual performance as of 12/31/17

Last month Last quarter Year to date 1 yr. 3 yrs. 5 yrs. 10 yrs.
Net asset value -0.12% 1.40% 11.20% 11.20% 6.04% 7.19% 6.69%
Market price -1.12% 1.95% 14.53% 14.53% 8.42% 7.61% 7.43%
Comparative index: High Income Securities Blended Index†
Net asset value 0.25% 0.80% 11.06% 11.06% 6.66% 7.90% 8.02%

* Data is historical. Past performance is not a guarantee of future results. More recent returns may be less or more than those shown. Investment return, net asset value, and market price will fluctuate and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes.

Performance snapshot

  Net asset value Market price
1 mt. -0.12% -1.12%
as of 12/31/17
YTD 1.86% -
as of 01/17/18

Lipper rankings as of 12/31/17

Convertible Securities Funds Percentile ranking Rank/Funds in category
1 yr. 79% 11/13
3 yrs. 42% 5/11
5 yrs. 67% 8/11
10 yrs. 25% 3/11

Morningstar ratings as of 12/31/17

Convertibles-Clsd End Rating Funds in category
Overall (9)
3 yrs. (9)
5 yrs. (9)
10 yrs. (9)

Distribution history (past 12 mts.)

Ex-distribution date Distribution amount
per common share
12/22/17 $00.0283
11/24/17 $00.0283
10/24/17 $00.0283
09/22/17 $00.0283
08/24/17 $00.0283
07/24/17 $00.0309
06/23/17 $00.0309
05/24/17 $00.0309
04/24/17 $00.0309
03/24/17 $00.0309
02/23/17 $00.0309
01/24/17 $00.0309

Notwithstanding the explanation provided, an affirmative explanation as to whether the historical distributions cited within the section entitled “Distribution history” on page 2 reflects returns of principal or other non-income items such as loan proceeds or borrowings must be provided.

Risk characteristics as of 12/31/17

Average effective maturity 4.48
Average stated maturity N/A
Average effective duration
without leverage
3.39
Average effective duration
with leverage
3.39
Average yield to maturity 5.54
Average price 104.94
Average coupon 6.11

* Data is historical. Past performance is not a guarantee of future results. More recent returns may be less or more than those shown. Investment return, net asset value, and market price will fluctuate and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes.

Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


Holdings

Top 10 holdings as of 12/31/17

Micron Technology 2.85%
Microchip Technology 2.55%
Dish Network Corp 2.07%
Bank of America 1.34%
Chesapeake Energy 1.16%
American Tower 1.07%
Liberty Interactive Llc 1.05%
Novellus Sys 1.00%
Tesla 0.99%
Becton Dickinson And 0.93%
Top 10 holdings, percent of portfolio 15.01%

Full portfolio holdings as of 09/30/17

MICROCHIP TEC P/P 144A CV 01.6250 02/15/2027 2.65%
DISH NETWORK CV 03.3750 08/15/2026 1.99%
MICRON TECH CV 01.6250 02/15/2033 1.91%
NOVELLUS SYS CV 02.6250 05/15/2041 1.05%
ALLERGAN PLC 05.5000 CV PFD 1.04%
TESLA INC CV 01.2500 03/01/2021 1.04%
AMERICAN TOWER CORP 05.5000 CV PFD 1.03%
BANK OF AMERICA CORP 07.2500 CV PFD 1.03%
MICRON TECHNO CV 03.0000 11/15/2043 0.98%
STARWOOD PROP TR CV 04.0000 01/15/2019 0.94%
WELLS FARGO & COMPANY 07.5000 CV PFD 0.94%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.89%
CINCINNATI BELL INC 06.7500 CUM CV PFD 0.88%
CHESAPEAKE EN P/P 144A CV 05.5000 09/15/2026 0.86%
RLJ LODGING TRUST 01.9500 CUM CV PFD 0.84%
T-MOBILE US INC 05.5000 CV PFD 0.84%
EPR PROPERTIES 05.7500 CUM CV PFD 0.83%
PRICELINE GRP INC/THE CV 01.0000 03/15/2018 0.83%
JAZZ INVESTME USD 01.8750 08/15/2021 0.80%
MANDATORY EXCH TRUST P/P 144A 05.7500 CV PFD 0.70%
TCP CAP CORP CV 05.2500 12/15/2019 0.70%
AMG CAPITAL TRUST II 05.1500 CV PFD 0.69%
DTE ENERGY CO 06.5000 CV PFD 0.69%
NEXTERA ENERGY INC 06.1230 CV PFD 0.69%
LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 0.67%
CIENA CORP CV 04.0000 12/15/2020 0.66%
ON SEMICONDUC CV 01.0000 12/01/2020 0.65%
ARCONIC INC 05.3750 CUM CV PFD 0.63%
MACQUARIE INFRASTRUCTU CV 02.0000 10/01/2023 0.63%
VECTOR GROUP LTD CV 01.7500 04/15/2020 0.63%
HESS CORP 08.0000 CV PFD 0.62%
WELLTOWER INC 06.5000 CUM CV PFD 0.62%
BANC OF CALIFORNIA INC 0.61%
CROWN CASTLE INTL CORP 06.8750 CUM CV PFD 0.61%
SAFEGUARD SCI CV 05.2500 05/15/2018 0.59%
AEROJET ROCK P/P 144A CV 02.2500 12/15/2023 0.58%
BLACKSTONE MORTGAGE TR CV 05.2500 12/01/2018 0.58%
EURONET WORLD CV 01.5000 10/01/2044 0.58%
NAVISTAR INTL CV 04.7500 04/15/2019 0.56%
REALPAGE INC P/P 144A CV 01.5000 11/15/2022 0.55%
SQUARE INC P/P 144A CV 00.3750 03/01/2022 0.55%
COLONY STARWO P/P 144A CV 03.5000 01/15/2022 0.54%
INTEL CORP CV 03.2500 08/01/2039 0.54%
SUCAMPO PHARM P/P 144A CV 03.2500 12/15/2021 0.53%
BROOKDALE SNR LIVING CV 02.7500 06/15/2018 0.52%
ANTHEM INC 05.2500 CV PFD 0.51%
IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 0.51%
BELDEN INC 06.7500 CV PFD 0.50%
STANLEY BLACK & DECKER I 05.3750 CV PFD 0.50%
DYCOM IND INC CV 00.7500 09/15/2021 0.49%
J2 GLOBAL COMM CV 03.2500 06/15/2029 0.49%
LIBERTY MEDIA CV 01.3750 10/15/2023 0.49%
OSI SYS INC P/P 144A CV 01.2500 09/01/2022 0.48%
PACIRA PHARMA P/P 144A CV 02.3750 04/01/2022 0.48%
TERADYNE INC P/P 144A CV 01.2500 12/15/2023 0.48%
CALATLANTIC GROUP INC CV 01.6250 05/15/2018 0.46%
REXNORD CORP 05.7500 CUM CV PFD 0.46%
SALESFORCE.COM INC 0.46%
WHITING PETRO CV 01.2500 04/01/2020 0.46%
HUBSPOT INC P/P 144A CV 00.2500 06/01/2022 0.44%
LIBERTY EXPEDIA HOLD INC 144A 0.44%
SEACOR HLDGS CV 03.0000 11/15/2028 0.44%
TTM TECHNOLOGIES INC CV 01.7500 12/15/2020 0.44%
ALEXANDRIA REAL ESTATE E 07.0000 CUM CV PFD 0.42%
GREENBRIER C P/P 144A CV 02.8750 02/01/2024 0.42%
CEMEX SAB DE CV USD 03.7200 03/15/2020 0.41%
CYPRESS SEMIC CV 04.5000 01/15/2022 0.41%
WORKDAY INC P/P 144A CV 00.2500 10/01/2022 0.41%
AIR TRANSPORT P/P 144A CV 01.1250 10/15/2024 0.40%
CITRIX SYSTEM CV 00.5000 04/15/2019 0.40%
INTEGRATED DE CV 00.8750 11/15/2022 0.40%
LIBERTY INTERACTIVE CV 03.5000 01/15/2031 0.39%
NEUROCRINE P/P 144A CV 02.2500 05/15/2024 0.37%
CEMEX FINANCE LLC P/P 144A 06.0000 04/01/2024 0.35%
MEDICINES CO CV 02.7500 07/15/2023 0.35%
WAYFAIR INC P/P 144A CV 00.3750 09/01/2022 0.35%
ALTICE LUXEMBOURG SA P/P 144A 07.7500 05/15/2022 0.34%
DIAMOND 1 FIN/DIAMON P/P 144A 07.1250 06/15/2024 0.34%
LIBERTY MEDIA CV 02.2500 09/30/2046 0.34%
SCORPIO TANKERS INC P/P 144A 02.3750 07/01/2019 0.33%
FINISAR CORP P/P 144A CV 00.5000 12/15/2036 0.32%
GATES GLOBAL LLC P/P 144A 06.0000 07/15/2022 0.32%
HORIZON GLOBAL CORP CV 02.7500 07/01/2022 0.32%
TELADOC INC P/P 144A CV 03.0000 12/15/2022 0.32%
JAZZ US HOLDINGS INC CV 08.0000 12/31/2018 0.31%
SCIENTIFIC GAMES INT 10.0000 12/01/2022 0.31%
SPRINT CORP 07.8750 09/15/2023 0.31%
ISTAR INC 04.5000 CUM CV PFD 0.30%
TWITTER INC CV 01.0000 09/15/2021 0.30%
HOLOGIC INC CV 02.0000 03/01/2042 0.29%
CLEAR CHNL WORLD 06.5000 11/15/2022 0.28%
KAMAN CORP P/P 144A CV 03.2500 05/01/2024 0.28%
PROOFPOINT IN CV 00.7500 06/15/2020 0.28%
II-VI INC P/P 144A CV 00.2500 09/01/2022 0.27%
ROYAL BK SCOTLND GRP PLC USD 07.6480 08/29/2049 0.27%
IMPAX LABORAT CV 02.0000 06/15/2022 0.26%
SPRINT CAPITAL CORPORATION 06.8750 11/15/2028 0.26%
HERCULES CAPI P/P 144A CV 04.3750 02/01/2022 0.25%
BWAY HOLDING CO P/P 144A 07.2500 04/15/2025 0.24%
CSC HOLDINGS LLC P/P 144A 10.1250 01/15/2023 0.24%
HERITAGE INS P/P 144A CV 05.8750 08/01/2037 0.24%
OASIS PETROLEUM INC CV 02.6250 09/15/2023 0.24%
SPRINT CORP 07.2500 09/15/2021 0.24%
TI GROUP AUTO SYS LL P/P 144A 08.7500 07/15/2023 0.24%
AES CORP/VA 05.5000 04/15/2025 0.23%
ALLY FINANCIAL INC 08.0000 11/01/2031 0.23%
CARBONITE INC P/P 144A CV 02.5000 04/01/2022 0.23%
CERIDIAN HCM HOLDING P/P 144A 11.0000 03/15/2021 0.23%
INCEPTION MRGR/RACK P/P 144A 08.6250 11/15/2024 0.23%
JACK OHIO FIN LLC/FI P/P 144A 06.7500 11/15/2021 0.23%
SOLERA LLC / SOLERA P/P 144A 10.5000 03/01/2024 0.23%
CHENIERE CORP CHRIST 05.8750 03/31/2025 0.22%
CHESAPEAKE ENERGY CO P/P 144A 08.0000 12/15/2022 0.22%
FIRST QUANTUM P/P 144A 07.0000 02/15/2021 0.22%
GOLDEN NUGGET INC P/P 144A 06.7500 10/15/2024 0.22%
LLOYDS BANKING GROUP PLC USD 07.5000 04/30/2049 0.22%
SERVICE CORP INTL 05.3750 05/15/2024 0.22%
CLUBCORP HLDG INC P/P 144A 08.5000 09/15/2025 0.21%
INTELSAT JACKSON HLD P/P 144A 09.7500 07/15/2025 0.21%
AVAYA INC P/P 144A 07.0000 04/01/2019 0.20%
CEQUEL COM HLDG I/CA P/P 144A 05.1250 12/15/2021 0.20%
CSC HOLDINGS LLC 05.2500 06/01/2024 0.20%
NEXSTAR BROADC P/P 144A 05.6250 08/01/2024 0.20%
CCO HLDGS LLC/CAP CO P/P 144A 05.8750 04/01/2024 0.19%
ENCORE CAPITA CV 03.0000 07/01/2020 0.19%
INFOR SOFTWARE P/P 144A 07.1250 05/01/2021 0.19%
MTW FOODSERVICE ESCR 09.5000 02/15/2024 0.19%
NCR CORP 05.5000 CV PFD 0.19%
SINCLAIR TELEVISION P/P 144A 05.6250 08/01/2024 0.19%
T-MOBILE USA INC 06.3750 03/01/2025 0.19%
ARDAGH PKG FIN/HLDGS P/P 144A 07.2500 05/15/2024 0.18%
ASHTEAD CAPITAL INC P/P 144A 05.6250 10/01/2024 0.18%
BLUELINE RENTAL CRP P/P 144A 09.2500 03/15/2024 0.18%
BOISE CASCADE CO P/P 144A 05.6250 09/01/2024 0.18%
CHS/COMMUNITY HEALTH 06.8750 02/01/2022 0.18%
GCP APPLIED TECH P/P 144A 09.5000 02/01/2023 0.18%
HCA INC 06.5000 02/15/2020 0.18%
HOWARD HUGHES CORP P/P 144A 05.3750 03/15/2025 0.18%
JACK OHIO FIN LLC/FI P/P 144A 10.2500 11/15/2022 0.18%
NAVISTAR INTERNATIONAL CORP 08.2500 11/01/2021 0.18%
NVIDIA CORP 0.18%
SFR GROUP SA P/P 144A 07.3750 05/01/2026 0.18%
ADS INC P/P 144A 05.6250 11/15/2024 0.17%
ALTA MESA HLDGS P/P 144A 07.8750 12/15/2024 0.17%
BANK OF AMERICA CORP 0.17%
DYNEGY INC 07.0000 CV PFD 0.17%
LEGRAND FRANCE USD 08.5000 02/15/2025 0.17%
MASTEC INC 04.8750 03/15/2023 0.17%
SFR GROUP SA P/P 144A 06.0000 05/15/2022 0.17%
US CONCRETE INC 06.3750 06/01/2024 0.17%
VIDEOTRON LTD USD 05.0000 07/15/2022 0.17%
AVID TECH INC CV 02.0000 06/15/2020 0.16%
BOMBARDIER INC P/P 144A 08.7500 12/01/2021 0.16%
CLEARWIRE COM P/P 144A CV 08.2500 12/01/2040 0.16%
COMMSCOPE TECH LLC P/P 144A 06.0000 06/15/2025 0.16%
DIAMOND RESORTS INTL P/P 144A 07.7500 09/01/2023 0.16%
DIGICEL LIMITED P/P 144A 06.7500 03/01/2023 0.16%
HCA INC 05.5000 06/15/2047 0.16%
LOUISIANA-PACIFIC CORP 04.8750 09/15/2024 0.16%
PULTEGROUP INC. 07.8750 06/15/2032 0.16%
RANGE RESOURCES CORP P/P 144A 05.7500 06/01/2021 0.16%
RIVERS PITTSBURGH LP P/P 144A 06.1250 08/15/2021 0.16%
VALEANT PHARMA P/P 144A 05.8750 05/15/2023 0.16%
AMERICAN TIRE DISTRI P/P 144A 10.2500 03/01/2022 0.15%
BUILDERS FIRSTSOURCE P/P 144A 05.6250 09/01/2024 0.15%
CCO HLDGS LLC/CAP C P/P 144A 05.5000 05/01/2026 0.15%
CEC ENT INC 08.0000 02/15/2022 0.15%
DYNEGY INC 07.6250 11/01/2024 0.15%
FIRST DATA CORP P/P 144A 07.0000 12/01/2023 0.15%
JONAH NRG LLC/FINANC P/P 144A 07.2500 10/15/2025 0.15%
MASONITE INTL C P/P 144A 05.6250 03/15/2023 0.15%
NEWFIELD EXPLORATION CO 05.7500 01/30/2022 0.15%
STANDARD IND INC P/P 144A 05.3750 11/15/2024 0.15%
WEST CORP P/P 144A 05.3750 07/15/2022 0.15%
WR GRACE & CO-CONN P/P 144A 05.6250 10/01/2024 0.15%
BMC EAST LLC P/P 144A 05.5000 10/01/2024 0.14%
CALPINE CORP 05.7500 01/15/2025 0.14%
COMPASS MINERALS INT P/P 144A 04.8750 07/15/2024 0.14%
ENDO LTD/FIN LLC/FIN P/P 144A 06.0000 07/15/2023 0.14%
GREAT LAKES D&D 08.0000 05/15/2022 0.14%
MICRON TECH INC P/P 144A 05.2500 01/15/2024 0.14%
PENSKE AUTO GRP INC 05.7500 10/01/2022 0.14%
PLANTRONICS INC P/P 144A 05.5000 05/31/2023 0.14%
SIX FLAGS ENT P/P 144A 04.8750 07/31/2024 0.14%
VALEANT PHARMA P/P 144A 07.0000 03/15/2024 0.14%
AES CORP/VA 07.3750 07/01/2021 0.13%
ALLEGHENY TECHNOLOGIES INC 09.3750 06/01/2019 0.13%
AMAG PHARMA INC P/P 144A 07.8750 09/01/2023 0.13%
BEACON ROOFING SUPPL 06.3750 10/01/2023 0.13%
BRIGGS & STRATTON CORPORATION 06.8750 12/15/2020 0.13%
BUILDERS FIRSTSOURCE P/P 144A 10.7500 08/15/2023 0.13%
CNO FINANCIAL GROUP INC 05.2500 05/30/2025 0.13%
DIAMONDBACK ENERGY INC 05.3750 05/31/2025 0.13%
GOLDEN NUGGET INC P/P 144A 08.7500 10/01/2025 0.13%
HOLLY ENERGY PARTNE P/P 144A 06.0000 08/01/2024 0.13%
HUB INTL LTD P/P 144A 07.8750 10/01/2021 0.13%
INFOR US INC 06.5000 05/15/2022 0.13%
IRON MOUNTAIN INC P/P 144A 04.8750 09/15/2027 0.13%
NORBORD INC P/P 144A 06.2500 04/15/2023 0.13%
ORTHO-CLINICAL INC/S P/P 144A 06.6250 05/15/2022 0.13%
PARK-OHIO INDUSTRIES INC 06.6250 04/15/2027 0.13%
REVLON CONSUMER PROD 06.2500 08/01/2024 0.13%
SCIENTIFIC GAMES INT P/P 144A 07.0000 01/01/2022 0.13%
SIX FLAGS ENT P/P 144A 05.5000 04/15/2027 0.13%
SMURFIT KAPPA TREASURY USD 07.5000 11/20/2025 0.13%
STONE ENERGY CORP 07.5000 05/31/2022 0.13%
TMX FIN/TITLEMAX P/P 144A 08.5000 09/15/2018 0.13%
VALEANT PHARMA P/P 144A 06.1250 04/15/2025 0.13%
WATCO COS LLC/FI P/P 144A 06.3750 04/01/2023 0.13%
WPX ENERGY INC 06.0000 01/15/2022 0.13%
ZEKELMAN IND INC P/P 144A 09.8750 06/15/2023 0.13%
ZF NA CAPITAL P/P 144A 04.7500 04/29/2025 0.13%
BIG RVR STL/FIN P/P 144A 07.2500 09/01/2025 0.12%
BLUE CUBE SPINCO INC 09.7500 10/15/2023 0.12%
CAESARS ENT OPER TLB6B L+775 11.7500 03/01/2018 0.12%
CRC ESCROW ISSUER LL P/P 144A 05.2500 10/15/2025 0.12%
DIAMOND 1 FIN/DIAMON P/P 144A 05.4500 06/15/2023 0.12%
ENDEAVOR ENERGY P/P 144A 08.1250 09/15/2023 0.12%
FLEX ACQ CO INC P/P 144A 06.8750 01/15/2025 0.12%
HILTON WORLDWIDE FIN LLC 04.8750 04/01/2027 0.12%
LPL HOLDINGS INC P/P 144A 05.7500 09/15/2025 0.12%
MERCER INTL INC USD 07.7500 12/01/2022 0.12%
NOVELIS CORP P/P 144A 05.8750 09/30/2026 0.12%
OASIS PETROLEUM INC 06.8750 03/15/2022 0.12%
T-MOBILE USA INC 06.6250 04/01/2023 0.12%
TENET HEALTHCARE 06.0000 10/01/2020 0.12%
WEEKLEY HOMES LLC 06.0000 02/01/2023 0.12%
WERNER FINCO LP/INC P/P 144A 08.7500 07/15/2025 0.12%
AIR MEDICAL MERGER S P/P 144A 06.3750 05/15/2023 0.11%
ALLY FINANCIAL INC 0.11%
ALLY FINANCIAL INC 05.7500 11/20/2025 0.11%
AMERICAN INTL GROUP 08.1750 05/15/2058 0.11%
ASP AMC MERGER SUB P/P 144A 08.0000 05/15/2025 0.11%
BRAND ENERGY & I P/P 144A 08.5000 07/15/2025 0.11%
CCO HLDGS LLC/CAP CO P/P 144A 05.1250 05/01/2023 0.11%
DRESDNER FDG TRST I P/P 144A 08.1510 06/30/2031 0.11%
DYNEGY INC 07.3750 11/01/2022 0.11%
ELDORADO RESORTS INC 07.0000 08/01/2023 0.11%
ENDO FIN LLC/ENDO FI P/P 144A 05.3750 01/15/2023 0.11%
GREAT CANADIAN GAMIN P/P 144A 06.6250 07/25/2022 0.11%
GW HONOS SECURITY CO P/P 144A 08.7500 05/15/2025 0.11%
JAGUAR HL / PPDI P/P 144A 06.3750 08/01/2023 0.11%
KRATON POLYMERS P/P 144A 10.5000 04/15/2023 0.11%
LAMB WESTON HOLDINGS P/P 144A 04.8750 11/01/2026 0.11%
NATIONSTAR MORT/ 06.5000 07/01/2021 0.11%
SABRE GLBL INC P/P 144A 05.3750 04/15/2023 0.11%
SIRIUS XM RADIO INC P/P 144A 06.0000 07/15/2024 0.11%
SOUTHERN STAR CENT P/P 144A 05.1250 07/15/2022 0.11%
T-MOBILE USA INC 06.1250 01/15/2022 0.11%
TEMPO ACQ LLC/FI P/P 144A 06.7500 06/01/2025 0.11%
ALLIANT HOLD / CO-IS P/P 144A 08.2500 08/01/2023 0.10%
BWAY HOLDING CO P/P 144A 05.5000 04/15/2024 0.10%
CENTENE CORP 06.1250 02/15/2024 0.10%
CHEMOURS CO 07.0000 05/15/2025 0.10%
DAKOTA MERGER SUB P/P 144A 10.7500 09/01/2024 0.10%
DIAMOND BC BV P/P 144A 05.6250 08/15/2025 0.10%
EMI MUSIC PUBLISHING P/P 144A 07.6250 06/15/2024 0.10%
EVEREST ACQ LLC/FIN 09.3750 05/01/2020 0.10%
FIRST DATA CORP P/P 144A 05.7500 01/15/2024 0.10%
FREEPORT-MCMORAN INC 06.8750 02/15/2023 0.10%
IHS MARKIT LTD P/P 144A 04.7500 02/15/2025 0.10%
MERCER INTL INC USD 06.5000 02/01/2024 0.10%
MOOG INC P/P 144A 05.2500 12/01/2022 0.10%
NOVA CHEMICALS CORP P/P 144A 05.2500 06/01/2027 0.10%
NRG ENERGY INC 06.6250 01/15/2027 0.10%
PROVIDENT FDG/PFG FI P/P 144A 06.3750 06/15/2025 0.10%
SEVEN GENERATIONS EN P/P 144A 06.7500 05/01/2023 0.10%
SEVEN GENS ENER P/P 144A 08.2500 05/15/2020 0.10%
SPECTRUM BRANDS INC 06.1250 12/15/2024 0.10%
TENNECO INC 05.3750 12/15/2024 0.10%
TMS INTL CORP P/P 144A 07.2500 08/15/2025 0.10%
TTM TECHNOLOGIES INC P/P 144A 05.6250 10/01/2025 0.10%
USG CORP P/P 144A 04.8750 06/01/2027 0.10%
ABC SUPPLY CO INC P/P 144A 05.7500 12/15/2023 0.09%
ALLIANCE DATA SYS CO P/P 144A 05.3750 08/01/2022 0.09%
ALLISON TRANSMISSION P/P 144A 05.0000 10/01/2024 0.09%
AMERICAN AXLE & MFG INC 07.7500 11/15/2019 0.09%
ARCELORMITTAL USD 06.1250 06/01/2025 0.09%
CENTENE CORP 04.7500 05/15/2022 0.09%
CHEMOURS CO 06.6250 05/15/2023 0.09%
CIT GROUP INC. 05.0000 08/15/2022 0.09%
CNG HOLDINGS INC P/P 144A 09.3750 05/15/2020 0.09%
COLORADO INTERSTATE GAS CO 06.8500 06/15/2037 0.09%
DISH DBS CORP 05.8750 11/15/2024 0.09%
DYNEGY INC P/P 144A 08.1250 01/30/2026 0.09%
FIRST DATA CORP P/P 144A 05.3750 08/15/2023 0.09%
GRAY TELEVISION INC P/P 144A 05.8750 07/15/2026 0.09%
HCA INC 05.2500 06/15/2026 0.09%
LAREDO PETROLEUM INC 07.3750 05/01/2022 0.09%
LIONS GATE ENT P/P 144A 05.8750 11/01/2024 0.09%
MALLINCKRODT FIN/SB P/P 144A 05.5000 04/15/2025 0.09%
NIELSEN CO LUX SARL P/P 144A 5.500 10/01/2021 0.09%
NOVELIS CORP P/P 144A 06.2500 08/15/2024 0.09%
OSHKOSH CORP 05.3750 03/01/2025 0.09%
REYNOLDS GRP ISS/REY P/P 144A 07.0000 07/15/2024 0.09%
SERVICE CORP INTL 05.3750 01/15/2022 0.09%
STERIGENICS-NORDION P/P 144A 06.5000 05/15/2023 0.09%
TRI POINTE GROUP / HOMES 05.8750 06/15/2024 0.09%
UNIVISION COMM P/P 144A 05.1250 02/15/2025 0.09%
WMG ACQUISITION CORP P/P 144A 05.0000 08/01/2023 0.09%
WRANGLER BUYER CORP P/P 144A 06.0000 10/01/2025 0.09%
ANTERO RESOURCES 05.3750 11/01/2021 0.08%
AUTOMATION TOOLING S P/P 144A 06.5000 06/15/2023 0.08%
BROOKFIELD RESID P/P 144A 06.5000 12/15/2020 0.08%
CBS OUT AMER CAP LLC 05.8750 03/15/2025 0.08%
CCO HLDGS LLC/CAP CO P/P 144A 05.7500 02/15/2026 0.08%
CHENIERE CORP CHRIST P/P 144A 05.1250 06/30/2027 0.08%
CHS/COMMUNITY HEALTH SYS 06.2500 03/31/2023 0.08%
CLEAR CHANNEL COMMUN 09.0000 12/15/2019 0.08%
CONTINENTAL RESOURCES 03.8000 06/01/2024 0.08%
CSTN MERGER SUB INC P/P 144A 06.7500 08/15/2024 0.08%
FRONTIER COMM 10.5000 09/15/2022 0.08%
ICAHN ENTERPRISES/FI 05.8750 02/01/2022 0.08%
KFC HLD/PIZZA HUT/TA P/P 144A 05.0000 06/01/2024 0.08%
KFC HLD/PIZZA HUT/TA P/P 144A 05.2500 06/01/2026 0.08%
NOBLE HOLDING INTL LTD USD 07.7500 01/15/2024 0.08%
NRG ENERGY INC 07.2500 05/15/2026 0.08%
PENSKE AUTOMOTIVE GROUP 05.3750 12/01/2024 0.08%
PRECISION DRILLING CORP USD 07.7500 12/15/2023 0.08%
PULTEGROUP INC 05.5000 03/01/2026 0.08%
SEALED AIR CORP P/P 144A 06.8750 07/15/2033 0.08%
SIRIUS XM RADIO INC P/P 144A 05.0000 08/01/2027 0.08%
STEARNS HOLDINGS LLC P/P 144A 09.3750 08/15/2020 0.08%
STONE ENERGY CORP 0.08%
TRANSDIGM INC 06.5000 05/15/2025 0.08%
UNIVAR USA INC P/P 144A 06.7500 07/15/2023 0.08%
USIS MERGER SUB INC P/P 144A 06.8750 05/01/2025 0.08%
VENATOR FIN SARL/VEN P/P 144A 05.7500 07/15/2025 0.08%
WOLVERINE WORLD WIDE P/P 144A 05.0000 09/01/2026 0.08%
WPX ENERGY INC 07.5000 08/01/2020 0.08%
1011778 BC / NEW RED P/P 144A 04.2500 05/15/2024 0.07%
A SCHULMAN INC 06.8750 06/01/2023 0.07%
ALLY FINANCIAL INC 06.2500 12/01/2017 0.07%
BELDEN INC P/P 144A 05.2500 07/15/2024 0.07%
BERRY GLOBAL GROUP INC 0.07%
BOYD GAMING CORPORATION 06.8750 05/15/2023 0.07%
BROOKFIELD RESID PRO P/P 144A 06.1250 07/01/2022 0.07%
CALPINE CORP P/P 144A 05.2500 06/01/2026 0.07%
CBS RADIO INC P/P 144A 07.2500 11/01/2024 0.07%
CENOVUS ENERGY INC USD 06.7500 11/15/2039 0.07%
CF INDUSTRIES INC 04.9500 06/01/2043 0.07%
CHARTER COMMUNICATIONS INC-A 0.07%
CIT GROUP INC 05.0000 08/01/2023 0.07%
CONTINENTAL RES 04.5000 04/15/2023 0.07%
CONTINENTAL RESOURCES 04.9000 06/01/2044 0.07%
DEAN FOODS CO P/P 144A 06.5000 03/15/2023 0.07%
GAMING AND LEISURE PROPERTIE 0.07%
GARTNER INC P/P 144A 05.1250 04/01/2025 0.07%
GENON AMERICAS GENR LLC 09.1250 05/01/2031 0.07%
HIGH RIDGE BRANDS CO P/P 144A 08.8750 03/15/2025 0.07%
JO-ANN HOLDCO P/P 144A 09.7500 10/15/2019 0.07%
KEANE GROUP INC 0.07%
KINETIC CONCEPT/KCI P/P 144A 12.5000 11/01/2021 0.07%
REGENCY ENERGY P 04.5000 11/01/2023 0.07%
REVLON CONSUMER PRODS 05.7500 02/15/2021 0.07%
RITE AID CORP P/P 144A 06.1250 04/01/2023 0.07%
SEMGROUP CORP P/P 144A 06.3750 03/15/2025 0.07%
SHELF DRILL HOLD LTD P/P 144A 09.5000 11/02/2020 0.07%
SM ENERGY CO 06.5000 11/15/2021 0.07%
STEEL DYNAMICS INC 05.5000 10/01/2024 0.07%
SUGAR HSP GAMING P/P 144A 05.8750 05/15/2025 0.07%
TRANSDIGM INC 06.5000 07/15/2024 0.07%
TRIBUNE MEDIA CO 05.8750 07/15/2022 0.07%
WYNN LAS VEGAS P/P 144A 05.2500 05/15/2027 0.07%
1011778 BC / NEW RED P/P 144A 05.0000 10/15/2025 0.06%
ALLY FINANCIAL INC 08.0000 12/31/2018 0.06%
AMC ENT HOLDIN 05.8750 11/15/2026 0.06%
ARCELORMITTAL USD 07.5000 10/15/2039 0.06%
CBRE SERVICES INC 05.0000 03/15/2023 0.06%
CEQUEL COM HLDG I/CA P/P 144A 05.1250 12/15/2021 0.06%
CHESAPEAKE ENERGY CORP 05.7500 03/15/2023 0.06%
CIT GROUP INC 0.06%
CLEAR CHNL WORLD 07.6250 03/15/2020 0.06%
COVEY PARK ENERGY LL P/P 144A 07.5000 05/15/2025 0.06%
CROWN CORK & SEAL CO INC 07.3750 12/15/2026 0.06%
DENBURY RESOURCES IN P/P 144A 09.0000 05/15/2021 0.06%
GENON ENERGY INC. 09.8750 10/15/2020 0.06%
GLP CAP LP / FIN II 04.8750 11/01/2020 0.06%
HANESBRANDS INC P/P 144A 04.6250 05/15/2024 0.06%
HUB HLDG LLC/HUB HOL P/P 144A 08.1250 07/15/2019 0.06%
ICAHN ENTER/FIN 06.7500 02/01/2024 0.06%
JACOBS ENT INC P/P 144A 07.8750 02/01/2024 0.06%
LAMAR MEDIA CORP 05.8750 02/01/2022 0.06%
MATTAMY GROUP CORP P/P 144A 06.5000 10/01/2025 0.06%
MGM RESORTS INTL 06.6250 12/15/2021 0.06%
MGM RESORTS INTL 08.6250 02/01/2019 0.06%
MOLINA HEALTHCARE IN 05.3750 11/15/2022 0.06%
MURPHY OIL CORP 05.7500 08/15/2025 0.06%
NEW GOLD INC P/P 144A 06.2500 11/15/2022 0.06%
NIELSEN FIN LLC/CO P/P 144A 05.0000 04/15/2022 0.06%
NRG ENERGY INC 07.8750 05/15/2021 0.06%
ONEMAIN FIN HLDG INC P/P 144A 07.2500 12/15/2021 0.06%
PENN NATIONAL GAMING P/P 144A 05.6250 01/15/2027 0.06%
REGAL ENTERTAINMENT GRP 05.7500 06/15/2023 0.06%
SEVEN GENERATIONS P/P 144A 05.3750 09/30/2025 0.06%
SPECTRUM BRANDS INC 05.7500 07/15/2025 0.06%
SPRINGLEAF FINANCE CORP 06.1250 05/15/2022 0.06%
STANDARD IND INC P/P 144A 05.0000 02/15/2027 0.06%
STEEL DYNAMICS INC 05.2500 04/15/2023 0.06%
THE NEIMAN MARCUS GROUP LLC 07.1250 06/01/2028 0.06%
TR OP / TR FIN P/P 144A 05.3750 09/01/2025 0.06%
TRANSDIGM INC 06.3750 06/15/2026 0.06%
USG CORP P/P 144A 05.5000 03/01/2025 0.06%
VALEANT PHARMA P/P 144A 05.3750 03/15/2020 0.06%
VIDEOTRON LTD / LTEE P/P 144A 05.1250 04/15/2027 0.06%
WINDSTREAM SERVICES LLC 06.3750 08/01/2023 0.06%
WYNDHAM WORLDWIDE CORP 04.5000 04/01/2027 0.06%
ALLY FINANCIAL INC 08.0000 03/15/2020 0.05%
AMC ENT HOLDIN 06.1250 05/15/2027 0.05%
AMC ENTERTAINMENT HOLDIN 05.7500 06/15/2025 0.05%
ASCENT RESOURCES/AEU P/P 144A 10.0000 04/01/2022 0.05%
BANK OF AMERICA CORP 06.1000 12/29/2049 0.05%
BANK OF AMERICA CORP 06.5000 10/29/2049 0.05%
BERRY GLOBAL INC 05.5000 05/15/2022 0.05%
CALATLANTIC GROUP INC 05.8750 11/15/2024 0.05%
CALFRAC HOLDINGS LP P/P 144A 07.5000 12/01/2020 0.05%
CBS OUT AMER CAP LLC 05.6250 02/15/2024 0.05%
CHEMOURS CO 05.3750 05/15/2027 0.05%
CINEMARK USA INC 04.8750 06/01/2023 0.05%
CIT GROUP INC P/P 144A 05.5000 02/15/2019 0.05%
CPG MERGER SUB LLC P/P 144A 08.0000 10/01/2021 0.05%
CSC HOLDINGS LLC 06.7500 11/15/2021 0.05%
ENERGY TRANSFER/FINANCE 05.0000 10/01/2022 0.05%
ESH HOSPITALITY INC P/P 144A 05.2500 05/01/2025 0.05%
FREEPORT-MCMORAN INC 06.7500 02/01/2022 0.05%
HCA INC 03.7500 03/15/2019 0.05%
ICAHN ENTER/FIN 06.0000 08/01/2020 0.05%
ICAHN ENTERPRISES/FI 06.2500 02/01/2022 0.05%
INFOR US INC P/P 144A 05.7500 08/15/2020 0.05%
INTL LEASE FINANCE CORP 05.8750 08/15/2022 0.05%
JOSEPH T RYERSON & S P/P 144A 11.0000 05/15/2022 0.05%
KFC HLD/PIZZA HUT/TA P/P 144A 04.7500 06/01/2027 0.05%
KRATON POLYMERS LLC/ P/P 144A 07.0000 04/15/2025 0.05%
LENNAR CORP 04.7500 11/15/2022 0.05%
LIBERTY MUTUAL GROUP P/P 144A 07.8000 03/15/2037 0.05%
NEWFIELD EXPLORATION CO 05.3750 01/01/2026 0.05%
NIELSEN CO LUXEM P/P 144A 05.0000 02/01/2025 0.05%
NOVA CHEMICALS CORP P/P 144A 04.8750 06/01/2024 0.05%
ONEMAIN FIN HLDG INC P/P 144A 06.7500 12/15/2019 0.05%
PENSKE AUTOMOTIVE GROUP 05.5000 05/15/2026 0.05%
PILGRIM'S PRIDE CORP P/P 144A 05.7500 03/15/2025 0.05%
PLATFORM SPECIALTY P/P 144A 06.5000 02/01/2022 0.05%
REALOGY GROUP/CO-ISS P/P 144A 04.8750 06/01/2023 0.05%
SM ENERGY CO 06.7500 09/15/2026 0.05%
SPRINT COMMUNICATIONS INC. 07.0000 08/15/2020 0.05%
T-MOBILE USA INC 05.3750 04/15/2027 0.05%
T-MOBILE USA INC 06.5000 01/15/2026 0.05%
TARGA RES PRTNRS 05.3750 02/01/2027 0.05%
TENET HEALTHCARE CORP 08.1250 04/01/2022 0.05%
THE WILLIAMS COMPANIES INC. 08.7500 03/15/2032 0.05%
TOWNSQUARE MEDIA INC P/P 144A 06.5000 04/01/2023 0.05%
1011778 BC / NEW RED P/P 144A 04.6250 01/15/2022 0.04%
1011778 BC / NEW RED P/P 144A 05.0000 10/15/2025 0.04%
AES CORP/VA 05.1250 09/01/2027 0.04%
AK STEEL CORP 06.3750 10/15/2025 0.04%
ALLEGHENY TECHNOLOGIES 05.9500 01/15/2021 0.04%
ANDEAVOR LOGIS LP/CORP 05.2500 01/15/2025 0.04%
BIOSCRIP INC 08.8750 02/15/2021 0.04%
CALIFORNIA RESOURCES P/P 144A 08.0000 12/15/2022 0.04%
CBRE SERVICES INC 05.2500 03/15/2025 0.04%
CDK GLOBAL INC P/P 144A 04.8750 06/01/2027 0.04%
CHESAPEAKE ENERGY CO P/P 144A 08.0000 01/15/2025 0.04%
CHINA MEDICAL TECH INC USD 04.0000 08/15/2018 0.04%
CHS/COMMUNITY HEALTH SYS 07.1250 07/15/2020 0.04%
CIT GROUP INC 03.8750 02/19/2019 0.04%
COMMUNITY HEALTH SYSTEMS INC 0.04%
CREDIT ACCEPTANC 06.1250 02/15/2021 0.04%
CREDIT ACCEPTANC 07.3750 03/15/2023 0.04%
DFC FINANCE CORP P/P 144A 10.5000 06/15/2020 0.04%
DIAMONDBACK ENERGY INC 04.7500 11/01/2024 0.04%
ELDORADO RESORTS INC 0.04%
ENERGY TRANSFER EQUITY L.P. 05.8750 01/15/2024 0.04%
EP ENER/EVEREST ACQ P/P 144A 08.0000 02/15/2025 0.04%
GLP CAPITAL LP / FIN II 05.3750 04/15/2026 0.04%
HALYARD HEALTH INC 06.2500 10/15/2022 0.04%
LAMAR MEDIA CORP 05.3750 01/15/2024 0.04%
LIVE NATION ENT P/P 144A 04.8750 11/01/2024 0.04%
MATTAMY GROUP CORP P/P 144A 06.8750 12/15/2023 0.04%
MGP ESCROW ISSUER/CO 05.6250 05/01/2024 0.04%
MURRAY ENERGY CORP P/P 144A 11.2500 04/15/2021 0.04%
OASIS PETROLEUM INC 06.8750 01/15/2023 0.04%
POMEGRANATE MERGER S P/P 144A 09.7500 05/01/2023 0.04%
REGAL ENTERTAINMENT GRP 05.7500 02/01/2025 0.04%
ROSE ROCK MIDSTREAM/ 05.6250 11/15/2023 0.04%
SANDRIDGE ENERGY INC 0.04%
SEVEN GENERATIONS ENERGY - A 0.04%
SM ENERGY CO 05.0000 01/15/2024 0.04%
SM ENERGY CO 06.1250 11/15/2022 0.04%
SPRINGLEAF FINANCE CORP 08.2500 12/15/2020 0.04%
SPRINT COMM P/P 144A 09.0000 11/15/2018 0.04%
TAYLOR MORRISON P/P 144A 05.6250 03/01/2024 0.04%
TECK RESOURCES LIMITED USD 04.7500 01/15/2022 0.04%
TENNECO INC 05.0000 07/15/2026 0.04%
THE AES CORPORATION 04.8750 05/15/2023 0.04%
VALEANT PHARMACEUTIC P/P 144A 05.5000 03/01/2023 0.04%
WEATHERFORD BERMUDA P/P 144A 09.8750 02/15/2024 0.04%
WELLCARE HEALTH PLANS 05.2500 04/01/2025 0.04%
1011778 BC / NEW RED P/P 144A 06.0000 04/01/2022 0.03%
AMC ENTERTAINMENT HOLDIN 05.8750 02/15/2022 0.03%
ANTERO RESOURCES COR 05.6250 06/01/2023 0.03%
ASCEND LEARNING LLC P/P 144A 06.8750 08/01/2025 0.03%
BERRY GLOBAL INC 05.1250 07/15/2023 0.03%
BON-TON DEPT STORES 08.0000 06/15/2021 0.03%
BOYD GAMING CORP 06.3750 04/01/2026 0.03%
CABLEVISION SYS CORP 08.0000 04/15/2020 0.03%
CCM MERGER INC P/P 144A 06.0000 03/15/2022 0.03%
CHESAPEAKE ENERGY CO P/P 144A 08.0000 01/15/2025 0.03%
CHESAPEAKE ENERGY CO P/P 144A 08.0000 06/15/2027 0.03%
CINEMARK USA INC 05.1250 12/15/2022 0.03%
CONCORDIA INTL P/P 144A 07.0000 04/15/2023 0.03%
DENBURY RESOURCES INC 06.3750 08/15/2021 0.03%
DYNEGY INC P/P 144A 08.0000 01/15/2025 0.03%
GRINDING MEDIA/M P/P 144A 07.3750 12/15/2023 0.03%
HALCON RESOURCES CORP 0.03%
HCA INC. 07.5000 02/15/2022 0.03%
ISTAR INC 05.2500 09/15/2022 0.03%
ISTAR INC 06.0000 04/01/2022 0.03%
LAREDO PETROLEUM INC 05.6250 01/15/2022 0.03%
LIVE NATION ENTERTAINMENT IN 0.03%
MEG ENERGY CORP P/P 144A 06.5000 01/15/2025 0.03%
MEG ENERGY CORP P/P 144A 07.0000 03/31/2024 0.03%
MGM GROWTH/MGM FIN P/P 144A 04.5000 01/15/2028 0.03%
NEIMAN MARCUS GROUP P/P 144A 08.0000 10/15/2021 0.03%
NEIMAN MARCUS GROUP P/P 144A 08.7500 10/15/2021 0.03%
NEW GOLD INC P/P 144A 06.3750 05/15/2025 0.03%
OSHKOSH CORP 05.3750 03/01/2022 0.03%
PETSMART INC P/P 144A 07.1250 03/15/2023 0.03%
SEALED AIR CORP P/P 144A 05.1250 12/01/2024 0.03%
SESI LLC 07.1250 12/15/2021 0.03%
SESI LLC P/P 144A 07.7500 09/15/2024 0.03%
SM ENERGY CO 06.5000 01/01/2023 0.03%
STEEL DYNAMICS INC 05.0000 12/15/2026 0.03%
T-MOBILE USA INC. 04.0000 04/15/2022 0.03%
TALLGRASS NRG PRTNR P/P 144A 05.5000 01/15/2028 0.03%
TAYLOR MORRISON COMM P/P 144A 05.2500 04/15/2021 0.03%
TECK RESOURCES LIMITED USD 03.7500 02/01/2023 0.03%
TRONOX FINANCE PLC P/P 144A 05.7500 10/01/2025 0.03%
UNITED STATES STEEL CORP 06.8750 08/15/2025 0.03%
VALEANT PHARMA P/P 144A 06.5000 03/15/2022 0.03%
WABASH NATIONAL CORP P/P 144A 05.5000 10/01/2025 0.03%
WPX ENERGY INC 08.2500 08/01/2023 0.03%
ALLEGHENY TECHNOLOGIES 07.8750 08/15/2023 0.02%
ALLISON TRANSMISSION P/P 144A 04.7500 10/01/2027 0.02%
ANTERO RESOURCES FIN 05.1250 12/01/2022 0.02%
CALPINE CORP P/P 144A 05.8750 01/15/2024 0.02%
CENTENE CORP 04.7500 01/15/2025 0.02%
CENTURYLINK INC 05.6250 04/01/2020 0.02%
CHINA MEDICAL TECH P/P 144A 06.2500 12/15/2017 0.02%
CHS/COMMUNITY HEALTH 08.0000 11/15/2019 0.02%
CITIGROUP INC 06.2500 12/29/2049 0.02%
CONTINENTAL RESOURCES 05.0000 09/15/2022 0.02%
DIAMOND 1 FIN/DIAMON P/P 144A 05.8750 06/15/2021 0.02%
EP ENER/EVEREST P/P 144A 08.0000 11/29/2024 0.02%
FRONTIER COMM 11.0000 09/15/2025 0.02%
FRONTIER COMMUNICATIONS 07.6250 04/15/2024 0.02%
FTS INTL INC P/P 144A 08.8200 06/15/2020 0.02%
HALCON RESOURCES COR P/P 144A 12.0000 02/15/2022 0.02%
INTELSAT JACKSON HLDG USD 07.5000 04/01/2021 0.02%
LAMB WESTON HOLDINGS P/P 144A 04.6250 11/01/2024 0.02%
MEG ENERGY CORP P/P 144A 06.3750 01/30/2023 0.02%
MOLINA HEALTHCARE IN P/P 144A 04.8750 06/15/2025 0.02%
NINE POINT ENERGY CNV PRF 0.02%
OASIS PETROLEUM INC 06.5000 11/01/2021 0.02%
QUEBECOR MEDIA INC USD 05.7500 01/15/2023 0.02%
ROSE ROCK MIDSTREAM/ 05.6250 07/15/2022 0.02%
STEEL DYNAMICS INC P/P 144A 04.1250 09/15/2025 0.02%
TARGA RES PRTNRS 05.1250 02/01/2025 0.02%
TENET HEALTHCARE 04.7500 06/01/2020 0.02%
TENNANT CO P/P 144A 05.6250 05/01/2025 0.02%
WEATHERFORD BERMUDA 08.2500 06/15/2023 0.02%
CD&R WATERWORKS MERGER 144A 6.125000 08/15/2025 0.01%
CONCORDIA INTL P/P 144A 09.0000 04/01/2022 0.01%
FREEPORT-MCMORAN COPPER & GOL 03.5500 03/01/2022 0.01%
INTELSAT CONNECT FIN P/P 144A 12.5000 04/01/2022 0.01%
NINE POINT ENERGY COM 0.01%
PACTIV LLC 08.3750 04/15/2027 0.01%
PLATFORM SPECIALTY P P/P 144A 10.3750 05/01/2021 0.01%
TECK RESOURCES LTD P/P 144A 08.5000 06/01/2024 0.01%
VALEANT PHARMA P/P 144A 05.6250 12/01/2021 0.01%
ACC CLAIMS HOLDING LLC CLASS A 0.00%
CAD/USD 10/18/2017 CITI 0.00%
CAD/USD 10/18/2017 SSBT 0.00%
CENTURYLINK INC 06.7500 12/01/2023 0.00%
ESC CHESAPEAKEOILFIELD 06.6250 11/15/2019 0.00%
ESC SEVENTYSEVENERG 06.5000 07/15/2022 0.00%
EUR/USD 12/20/2017 BANKAM 0.00%
HALCON RESOURCES CORP - WARRA 0.00%
INTELSAT JACKSON HLD P/P 144A 08.0000 02/15/2024 0.00%
INTELSAT LUXEMB USD 07.7500 06/01/2021 0.00%
MILAGRO OIL & GAS 0.00%
POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 0.00%
PRECISION DRILL USD 05.2500 11/15/2024 0.00%
SMURFIT-STONE CONTAINER CORP ESCROW 0.00%
SPEC BRNDS ESCROW CO 06.6250 11/15/2022 0.00%
TERVITA CORP CLASS A 0.00%
TEXAS COHLD TCEH ESCROW 11.5000 10/01/2020 0.00%
TXU TCEH RIGHTS 0.00%

Prior top 10 holdings

Top 10 holdings as of 12/31/17
Micron Technology
Microchip Technology
Dish Network Corp
Bank of America
Chesapeake Energy
American Tower
Liberty Interactive Llc
Novellus Sys
Tesla
Becton Dickinson And
Holdings represent 15.01% of portfolio
Top 10 holdings as of 11/30/17
Micron Technology
Microchip Technology
Dish Network Corp
T-Mobile Us
Bank of America
Chesapeake Energy
American Tower
Novellus Systems
Liberty Interactive Llc
Tesla
Holdings represent 15.55% of portfolio
Top 10 holdings as of 10/31/17
Micron Technology
Microchip Technology
Dish Network Corp
T-Mobile Us
Bank of America
Novellus Systems
Chesapeake Energy
American Tower Corp
Liberty Interactive Llc
Tesla
Holdings represent 15.78% of portfolio
Top 10 holdings as of 09/30/17
Micron Technology
Microchip Technology
Dish Network Corp
T-Mobile Us
Bank of America
Chesapeake Energy Corp
Liberty Interactive Llc
Novellus Systems
Allergan
Tesla
Holdings represent 15.85% of portfolio

Maturity detail

0 - 1 yr. 7.71%
1 - 5 yrs. 48.84%
5 - 10 yrs. 30.26%
10 - 15 yrs. 3.14%
Over 15 yrs. 10.05%

Quality rating

Equity 17.83%
A 0.75%
BBB 5.26%
BB 28.35%
B 22.22%
CCC and Below 6.20%
Not Rated 16.26%
Cash and net other assets 3.13%

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: Lower-rated bonds may offer higher yields in return for more risk. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Unlike bonds, funds that invest in bonds have fees and expenses. The value of bonds in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions of the risk of default, changes in government intervention, and factors related to a specific issuer. These factors may also lead to periods of high volatility and reduced liquidity in the bond markets. You can lose money by investing in the fund. The fund's shares trade on a stock exchange at market prices, which may be lower than the fund's net asset value.

Credit qualities are shown as a percentage of the fund's net assets. A bond rated BBB or higher (A-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor’s, Moody’s, and Fitch. Ratings and portfolio credit quality will vary over time. Net cash, if any, represent the market value weights of cash, derivatives, and short-term securities in the portfolio. The fund itself has not been rated by an independent rating agency.

Top Industry Sectors as of 12/31/17

Technology 19.43%
Consumer cyclicals 14.98%
Financials 13.90%
Communication services 9.50%
Health care 9.08%
Energy 8.20%
Capital goods 6.80%
Basic materials 6.29%
Consumer staples 4.64%
 
Other
7.18%
Utilities 3.20%
Cash and net other assets 3.13%
Transportation 0.85%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time.

†The BofA Merrill Lynch All-Convertibles Speculative Quality Index is comprised of approximately 300 issues of only speculative-grade convertible bonds and preferreds. The JPMorgan Developed High Yield Index is an unmanaged index of high-yield fixed-income securities issued in developed countries. You cannot invest directly in an index.

Consider these risks before investing: Lower-rated bonds may offer higher yields in return for more risk. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Unlike bonds, funds that invest in bonds have fees and expenses. The value of bonds in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions of the risk of default, changes in government intervention, and factors related to a specific issuer. These factors may also lead to periods of high volatility and reduced liquidity in the bond markets. You can lose money by investing in the fund. The fund's shares trade on a stock exchange at market prices, which may be lower than the fund's net asset value.

Credit qualities are shown as a percentage of the fund's net assets. A bond rated BBB or higher (A-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor’s, Moody’s, and Fitch. Ratings and portfolio credit quality will vary over time. Net cash, if any, represent the market value weights of cash, derivatives, and short-term securities in the portfolio. The fund itself has not been rated by an independent rating agency.