Putnam Investment Management, LLC will manage the fund during a transition period ending on July 23, 2018.

High Income Securities Fund (Class A)  (NYSE: PCF)

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

Highlights

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 07/18/18

Ticker NYSE: PCF
Net asset value $9.71
Net asset value change 0.00
Market price $9.47
Market price change 0.03
Discount/Premium -2.47%
Dividend rate at net asset value 3.50%
Dividend rate at market price 3.59%

Fund facts as of 06/30/18

Inception date
07/09/87
Total net assets
$124.56M
Dividend frequency
Monthly
Number of holdings
596
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 06/30/18

  • Annual performance as of 06/30/18

Last month Last quarter Year to date 1 yr. 3 yrs. 5 yrs. 10 yrs.
Net asset value -0.43% 0.88% 1.13% 6.02% 6.31% 6.32% 6.95%
Market price 0.84% 4.15% 5.37% 10.22% 10.97% 8.26% 8.12%
Comparative index: High Income Securities Blended Index†
Net asset value 0.55% 2.21% 1.84% 6.41% 7.23% 7.12% 8.53%

Data is historical. Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Investment return at both net asset value and market price as well as principal value 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 at net asset value reflects the deduction of all management and administrative fees. 12b-1 (distribution) fees are not applicable to this fund.

Performance snapshot

  Net asset value Market price
1 mt. -0.43% 0.84%
as of 06/30/18
YTD 1.97% -
as of 07/18/18

Lipper rankings as of 06/30/18

Convertible Securities Funds Percentile ranking Rank/Funds in category
1 yr. 74% 11/14
3 yrs. 43% 6/13
5 yrs. 59% 7/11
10 yrs. 42% 5/11

Distribution history (past 12 mts.)

Ex-distribution date Distribution amount
per common share
06/22/18 $00.0283
05/24/18 $00.0283
04/24/18 $00.0283
03/23/18 $00.0283
02/23/18 $00.0283
01/24/18 $00.0283
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

Distributions are sourced entirely from net investment income, unless noted otherwise. Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent market price and NAV. Special distributions, including special capital gains distributions, are not included in the calculation.

Risk characteristics 

Average effective maturity 5.10
Average stated maturity N/A
Average effective duration
without leverage
4.18
Average effective duration
with leverage
4.18
Average yield to maturity 6.41
Average price 101.17
Average coupon 6.33

Data is historical. Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Investment return at both net asset value and market price as well as principal value 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 at net asset value reflects the deduction of all management and administrative fees. 12b-1 (distribution) fees are not applicable to this fund.

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 06/30/18

Microchip Technology 3.32%
Dish Network Corp 2.52%
BD Medical 1.98%
Bank of America 1.86%
Tesla 1.77%
Chesapeake Energy Corp 1.74%
Micron Technology 1.62%
Twitter 1.41%
Hess Corp 0.94%
Booking Holdings 0.88%
Top 10 holdings, percent of portfolio 18.04%

Full portfolio holdings as of 03/31/18

MICROCHIP TEC P/P CV 01.6250 02/15/2027 2.59%
DISH NETWORK CV 03.3750 08/15/2026 1.78%
MICRON TECH CV 01.6250 02/15/2033 1.40%
MICRON TECHNO CV 03.0000 11/15/2043 1.28%
NOVELLUS SYS CV 02.6250 05/15/2041 1.11%
BECTON DICKINSON AND CO 06.1250 CV PFD 1.08%
BANK OF AMERICA CORP 07.2500 CV PFD 1.03%
CROWN CASTLE INTL CORP 06.8750 CUM CV PFD 1.00%
PRICELINE.COM CV 00.3500 06/15/2020 0.92%
TESLA INC CV 01.2500 03/01/2021 0.92%
CINCINNATI BELL INC 06.7500 CUM CV PFD 0.86%
CHESAPEAKE EN CV 05.5000 09/15/2026 0.81%
JAZZ INVESTME USD 01.8750 08/15/2021 0.80%
ON SEMICONDUC CV 01.0000 12/01/2020 0.79%
RLJ LODGING TRUST 01.9500 CUM CV PFD 0.77%
WELLS FARGO & COMPANY 07.5000 CV PFD 0.75%
EPR PROPERTIES 05.7500 CUM CV PFD 0.74%
MANDATORY EXCH TRUST P/P 144A 05.7500 CV PFD 0.74%
NEXTERA ENERGY INC 06.1230 CV PFD 0.73%
STARWOOD PROP TR CV 04.0000 01/15/2019 0.71%
AMG CAPITAL TRUST II 05.1500 CV PFD 0.70%
CIENA CORP CV 04.0000 12/15/2020 0.70%
TCP CAP CORP CV 05.2500 12/15/2019 0.68%
DTE ENERGY CO 06.5000 CV PFD 0.67%
MEDICINES CO CV 02.5000 01/15/2022 0.65%
CALATLANTIC GROUP INC CV 01.6250 05/15/2018 0.64%
REALPAGE INC P/P 144A CV 01.5000 11/15/2022 0.64%
HESS CORP 08.0000 CV PFD 0.63%
LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 0.63%
SQUARE INC CV 00.3750 03/01/2022 0.61%
VECTOR GROUP LTD CV 01.7500 04/15/2020 0.61%
J2 GLOBAL COMM CV 03.2500 06/15/2029 0.60%
REXNORD CORP 05.7500 CUM CV PFD 0.60%
IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 0.59%
SAFEGUARD SCI CV 05.2500 05/15/2018 0.59%
MACQUARIE INFRASTRUCTU CV 02.0000 10/01/2023 0.58%
OKTA INC P/P 144A CV 00.2500 02/15/2023 0.58%
WHITING PETRO CV 01.2500 04/01/2020 0.58%
HUBSPOT INC P/P 144A CV 00.2500 06/01/2022 0.57%
TWITTER INC CV 01.0000 09/15/2021 0.57%
BIOMARIN PHARMA CV 00.5990 08/01/2024 0.55%
WELLTOWER INC 06.5000 CUM CV PFD 0.55%
COLONY STARWO CV 03.5000 01/15/2022 0.54%
DYCOM IND INC CV 00.7500 09/15/2021 0.54%
ANTHEM INC 05.2500 CV PFD 0.52%
BROOKDALE SNR LIVING CV 02.7500 06/15/2018 0.52%
EURONET WORLD CV 01.5000 10/01/2044 0.51%
STANLEY BLACK & DECKER I 05.3750 CV PFD 0.51%
AEROJET ROCK CV 02.2500 12/15/2023 0.50%
AIR TRANSPORT P/P 144A CV 01.1250 10/15/2024 0.50%
EVERBRIDGE INC CV 01.5000 11/01/2022 0.50%
TERADYNE INC CV 01.2500 12/15/2023 0.50%
LIBERTY EXPEDIA HOLD INC 144A 0.48%
SEACOR HLDGS CV 03.0000 11/15/2028 0.48%
LIBERTY MEDIA CV 01.3750 10/15/2023 0.47%
WESTERN DI P/P 144A CV 01.5000 02/01/2024 0.47%
CITRIX SYSTEM CV 00.5000 04/15/2019 0.46%
SUPERNUS PH P/P 144A CV 00.6250 04/01/2023 0.46%
PACIRA PHARMA P/P CV 02.3750 04/01/2022 0.45%
WORKDAY INC P/P 144A CV 00.2500 10/01/2022 0.45%
CAESARS ENTERTAIN CORP CV 05.0000 10/01/2024 0.44%
CYPRESS SEMIC CV 04.5000 01/15/2022 0.44%
BELDEN INC 06.7500 CV PFD 0.43%
GREENBRIER C CV 02.8750 02/01/2024 0.43%
NEUROCRINE P/P 144A CV 02.2500 05/15/2024 0.43%
TTM TECHNOLOGIES INC CV 01.7500 12/15/2020 0.43%
BLACKSTONE MORTGAGE TR CV 04.7500 03/15/2023 0.42%
INTEGRATED DE CV 00.8750 11/15/2022 0.42%
LIBERTY INTERACTIVE CV 03.5000 01/15/2031 0.42%
ALEXANDRIA REAL ESTATE E 07.0000 CUM CV PFD 0.41%
INTEL CORP CV 03.2500 08/01/2039 0.41%
II-VI INC P/P 144A CV 00.2500 09/01/2022 0.40%
OSI SYS INC CV 01.2500 09/01/2022 0.40%
CLOVIS INC CV 02.5000 09/15/2021 0.39%
SALESFORCE.COM INC 0.39%
CARBONITE INC P/P 144A CV 02.5000 04/01/2022 0.38%
CEMEX SAB DE CV USD 03.7200 03/15/2020 0.38%
NAVISTAR INTL CV 04.7500 04/15/2019 0.37%
NUTANIX INC P/P 144A CV 00.0000 01/15/2023 0.37%
TELADOC INC P/P 144A CV 03.0000 12/15/2022 0.35%
CEMEX FINANCE LLC P/P 144A 06.0000 04/01/2024 0.34%
LIBERTY MEDIA CV 02.2500 09/30/2046 0.34%
SCORPIO TANKERS INC P/P 144A 02.3750 07/01/2019 0.34%
WAYFAIR INC P/P 144A CV 00.3750 09/01/2022 0.34%
DIAMOND 1 FIN/DIAMON P/P 144A 07.1250 06/15/2024 0.33%
PATRICK INDS P/P 144A CV 01.0000 02/01/2023 0.33%
PROOFPOINT IN CV 00.7500 06/15/2020 0.33%
FINISAR CORP CV 00.5000 12/15/2036 0.31%
RINGCENTRAL P/P 144A CV 00.0000 03/15/2023 0.31%
ALTICE LUXEMBOURG SA P/P 144A 07.7500 05/15/2022 0.30%
KAMAN CORP P/P 144A CV 03.2500 05/01/2024 0.30%
SCIENTIFIC GAMES INT 10.0000 12/01/2022 0.30%
IMPAX LABORAT CV 02.0000 06/15/2022 0.29%
CHEGG INC P/P 144A CV 00.2500 05/15/2023 0.28%
CLEAR CHNL WORLD 06.5000 11/15/2022 0.28%
ISTAR INC 04.5000 CUM CV PFD 0.27%
JAZZ US HOLDINGS INC CV 08.0000 12/31/2018 0.27%
SPRINT CORP 07.8750 09/15/2023 0.27%
HERITAGE INS P/P 144A CV 05.8750 08/01/2037 0.26%
HORIZON GLOBAL CORP CV 02.7500 07/01/2022 0.25%
INSMED INC CV 01.7500 01/15/2025 0.25%
LIBERTY MEDI P/P 144A CV 02.1250 03/31/2048 0.25%
BWAY HOLDING CO P/P 144A 07.2500 04/15/2025 0.24%
FIRST QUANTUM MINERA P/P 144A 07.5000 04/01/2025 0.24%
AES CORP/THE 05.5000 04/15/2025 0.23%
CERIDIAN HCM HOLDING P/P 144A 11.0000 03/15/2021 0.23%
CSC HOLDINGS LLC P/P 144A 10.1250 01/15/2023 0.23%
OASIS PETROLEUM INC CV 02.6250 09/15/2023 0.23%
SOLERA LLC / SOLERA P/P 144A 10.5000 03/01/2024 0.23%
ALLY FINANCIAL INC 08.0000 11/01/2031 0.22%
INCEPTION MRGR/RACK P/P 144A 08.6250 11/15/2024 0.22%
LLOYDS BANKING GROUP PLC USD 07.5000 04/30/2049 0.22%
SERVICE CORP INTL 05.3750 05/15/2024 0.22%
SPRINT CORP 07.2500 09/15/2021 0.22%
T-MOBILE US INC 0.22%
BANK OF AMERICA CORP 0.21%
CHENIERE CORP CHRIST 05.8750 03/31/2025 0.21%
DYNEGY INC 07.0000 CV PFD 0.21%
JACK OHIO FIN LLC/FI P/P 144A 10.2500 11/15/2022 0.21%
NEXSTAR BROADC P/P 144A 05.6250 08/01/2024 0.21%
CEQUEL COM HLDG I/CA P/P 144A 05.1250 12/15/2021 0.20%
CLUBCORP HLDG INC P/P 144A 08.5000 09/15/2025 0.20%
COMMSCOPE TECH LLC P/P 144A 06.0000 06/15/2025 0.20%
BRAND ENERGY & I P/P 144A 08.5000 07/15/2025 0.19%
CSC HOLDINGS LLC 05.2500 06/01/2024 0.19%
ENERGY TRANSFER PARTNERS 06.6250 02/15/2028 0.19%
GOLDEN NUGGET INC P/P 144A 06.7500 10/15/2024 0.19%
INFOR SOFTWARE P/P 144A 07.1250 05/01/2021 0.19%
INTELSAT JACKSON HLD P/P 144A 09.7500 07/15/2025 0.19%
JACK OHIO FIN LLC/FI P/P 144A 06.7500 11/15/2021 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%
AVID TECH INC CV 02.0000 06/15/2020 0.18%
BLUELINE RENTAL CRP P/P 144A 09.2500 03/15/2024 0.18%
CCO HLDGS LLC/CAP CO P/P 144A 05.8750 04/01/2024 0.18%
DIAMOND RESORTS INTL P/P 144A 07.7500 09/01/2023 0.18%
MTW FOODSERVICE ESCR 09.5000 02/15/2024 0.18%
TITAN ACQ LTD P/P 144A 07.7500 04/15/2026 0.18%
BOISE CASCADE CO P/P 144A 05.6250 09/01/2024 0.17%
CHESAPEAKE ENERGY CO P/P 144A 08.0000 12/15/2022 0.17%
GCP APPLIED TECH P/P 144A 09.5000 02/01/2023 0.17%
HCA INC 06.5000 02/15/2020 0.17%
HOWARD HUGHES CORP P/P 144A 05.3750 03/15/2025 0.17%
ROYAL BK SCOTLND GRP PLC USD 07.6480 08/29/2049 0.17%
SINCLAIR TELEVISION P/P 144A 05.6250 08/01/2024 0.17%
SPRINT CAPITAL CORPORATION 06.8750 11/15/2028 0.17%
ALTA MESA HLDGS 07.8750 12/15/2024 0.16%
BOMBARDIER INC P/P 144A 08.7500 12/01/2021 0.16%
DYNEGY INC 07.6250 11/01/2024 0.16%
LIVE NATION P/P 144A CV 02.5000 03/15/2023 0.16%
PLATFORM SPECIALTY P/P 144A 05.8750 12/01/2025 0.16%
PULTEGROUP INC. 07.8750 06/15/2032 0.16%
RANGE RESOURCES CORP 05.7500 06/01/2021 0.16%
SFR GROUP SA P/P 144A 06.0000 05/15/2022 0.16%
SFR GROUP SA P/P 144A 07.3750 05/01/2026 0.16%
TARGA RESOURCES PART P/P 144A 05.0000 01/15/2028 0.16%
TEVA PHARMA NE P/P 144A 06.7500 03/01/2028 0.16%
VALEANT PHARMA P/P 144A 05.8750 05/15/2023 0.16%
VIDEOTRON LTD USD 05.0000 07/15/2022 0.16%
WYNN LAS VEGAS P/P 144A 05.2500 05/15/2027 0.16%
BRIGGS & STRATTON CORPORATION 06.8750 12/15/2020 0.15%
GATES GLOBAL LLC P/P 144A 06.0000 07/15/2022 0.15%
HCA INC 05.5000 06/15/2047 0.15%
LOUISIANA-PACIFIC CORP 04.8750 09/15/2024 0.15%
NOVELIS CORP P/P 144A 05.8750 09/30/2026 0.15%
RIVERS PITTSBURGH LP P/P 144A 06.1250 08/15/2021 0.15%
STANDARD IND INC P/P 144A 05.3750 11/15/2024 0.15%
WEEKLEY HOMES LLC 06.0000 02/01/2023 0.15%
WERNER FINCO LP/INC P/P 144A 08.7500 07/15/2025 0.15%
AMERICAN TIRE DISTRI P/P 144A 10.2500 03/01/2022 0.14%
BUILDERS FIRSTSOURCE P/P 144A 05.6250 09/01/2024 0.14%
CCO HLDGS LLC/CAP C P/P 144A 05.5000 05/01/2026 0.14%
COMPASS MINERALS INT P/P 144A 04.8750 07/15/2024 0.14%
DIGICEL LIMITED P/P 144A 06.7500 03/01/2023 0.14%
FIRST DATA CORP P/P 144A 05.7500 01/15/2024 0.14%
GOLDEN NUGGET INC P/P 144A 08.7500 10/01/2025 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%
NAVISTAR INTL CORP P/P 144A 06.6250 11/01/2025 0.14%
NEWFIELD EXPLORATION CO 05.7500 01/30/2022 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%
STONE ENERGY CORP 07.5000 05/31/2022 0.14%
TTM TECHNOLOGIES INC P/P 144A 05.6250 10/01/2025 0.14%
US CONCRETE INC 06.3750 06/01/2024 0.14%
ADS INC P/P 144A 05.6250 11/15/2024 0.13%
BEACON ROOFING SUPPL 06.3750 10/01/2023 0.13%
BMC EAST LLC P/P 144A 05.5000 10/01/2024 0.13%
CALPINE CORP 05.7500 01/15/2025 0.13%
CBS RADIO INC P/P 144A 07.2500 11/01/2024 0.13%
CEC ENT INC 08.0000 02/15/2022 0.13%
CHS/COMMUNITY HEALTH 06.8750 02/01/2022 0.13%
CNO FINANCIAL GROUP INC 05.2500 05/30/2025 0.13%
DIAMONDBACK ENERGY INC 05.3750 05/31/2025 0.13%
ENDO LTD/FIN LLC/FIN P/P 144A 06.0000 07/15/2023 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%
ORTHO-CLINICAL INC/S P/P 144A 06.6250 05/15/2022 0.13%
SIX FLAGS ENT P/P 144A 04.8750 07/31/2024 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%
VALEANT PHARMA P/P 144A 07.0000 03/15/2024 0.13%
WATCO COS LLC/FI P/P 144A 06.3750 04/01/2023 0.13%
ZEKELMAN IND INC P/P 144A 09.8750 06/15/2023 0.13%
ARCELORMITTAL USD 07.2500 10/15/2039 0.12%
AVAYA HOLDINGS CORP 0.12%
BIG RVR STL/FIN P/P 144A 07.2500 09/01/2025 0.12%
COVEY PARK ENERGY LL P/P 144A 07.5000 05/15/2025 0.12%
ENDEAVOR ENERGY P/P 144A 05.7500 01/30/2028 0.12%
HILTON WORLDWIDE FIN LLC 04.8750 04/01/2027 0.12%
OASIS PETROLEUM INC 06.8750 03/15/2022 0.12%
PARK-OHIO INDUSTRIES INC 06.6250 04/15/2027 0.12%
SIX FLAGS ENT P/P 144A 05.5000 04/15/2027 0.12%
SMURFIT KAPPA TREASURY USD 07.5000 11/20/2025 0.12%
T-MOBILE USA INC 06.6250 04/01/2023 0.12%
TENET HEALTHCARE 06.0000 10/01/2020 0.12%
WYNDHAM WORLDWIDE CORP 04.5000 04/01/2027 0.12%
AIR MEDICAL MERGER S P/P 144A 06.3750 05/15/2023 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%
CONTINENTAL RESOURCES 04.9000 06/01/2044 0.11%
CORNERSTONE CHEM CO P/P 144A 06.7500 08/15/2024 0.11%
CRC ESCROW ISSUER LL P/P 144A 05.2500 10/15/2025 0.11%
DAKOTA MERGER SUB P/P 144A 10.7500 09/01/2024 0.11%
DIAMOND 1 FIN/DIAMON P/P 144A 05.4500 06/15/2023 0.11%
DRESDNER FDG TRST I P/P 144A 08.1510 06/30/2031 0.11%
ENERGY TRANSFER EQUITY L.P. 05.8750 01/15/2024 0.11%
FRONTIER COMM P/P 144A 08.5000 04/01/2026 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%
HESS INFRASTRUCTURE P/P 144A 05.6250 02/15/2026 0.11%
INDIGO NATURAL P/P 144A 06.8750 02/15/2026 0.11%
IRON MOUNTAIN INC P/P 144A 04.8750 09/15/2027 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%
LPL HOLDINGS INC P/P 144A 05.7500 09/15/2025 0.11%
MATCH GROUP INC P/P 144A 05.0000 12/15/2027 0.11%
NATIONSTAR MORT/ 06.5000 07/01/2021 0.11%
REVLON CONSUMER PROD 06.2500 08/01/2024 0.11%
RITE AID CORP P/P 144A 06.1250 04/01/2023 0.11%
SABRE GLBL INC P/P 144A 05.3750 04/15/2023 0.11%
TEMPO ACQ LLC/FI P/P 144A 06.7500 06/01/2025 0.11%
TMS INTL CORP P/P 144A 07.2500 08/15/2025 0.11%
WRANGLER BUYER CORP P/P 144A 06.0000 10/01/2025 0.11%
ALLIANT HOLD / CO-IS P/P 144A 08.2500 08/01/2023 0.10%
ALLY FINANCIAL INC 0.10%
ALLY FINANCIAL INC 05.7500 11/20/2025 0.10%
AMER WOODMARK CORP P/P 144A 04.8750 03/15/2026 0.10%
ASCEND LEARNING LLC P/P 144A 06.8750 08/01/2025 0.10%
BWAY HOLDING CO P/P 144A 05.5000 04/15/2024 0.10%
CCO HLDGS LLC/CAP CO P/P 144A 05.1250 05/01/2023 0.10%
CNG HOLDINGS INC P/P 144A 09.3750 05/15/2020 0.10%
DIAMOND BC BV P/P 144A 05.6250 08/15/2025 0.10%
ENDO FIN LLC/ENDO FI P/P 144A 05.3750 01/15/2023 0.10%
FIRST DATA CORP P/P 144A 07.0000 12/01/2023 0.10%
FLEX ACQ CO INC P/P 144A 06.8750 01/15/2025 0.10%
FREEDOM MTGE CORP P/P 144A 08.1250 11/15/2024 0.10%
FREEPORT-MCMORAN INC 06.8750 02/15/2023 0.10%
ITRON INC P/P 144A 05.0000 01/15/2026 0.10%
MASTEC INC 04.8750 03/15/2023 0.10%
MERCER INTL INC USD 06.5000 02/01/2024 0.10%
NABORS IND INC P/P 144A 05.7500 02/01/2025 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%
SIRIUS XM RADIO INC P/P 144A 06.0000 07/15/2024 0.10%
STONE ENERGY CORP 0.10%
TENNECO INC 05.3750 12/15/2024 0.10%
USA COMPRESSION PART P/P 144A 06.8750 04/01/2026 0.10%
USG CORP P/P 144A 04.8750 06/01/2027 0.10%
WESTERN DIGITAL CORP 04.7500 02/15/2026 0.10%
WPX ENERGY INC 06.0000 01/15/2022 0.10%
1011778 BC / NEW RED P/P 144A 05.0000 10/15/2025 0.09%
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%
AMERICAN AXLE & MFG INC 07.7500 11/15/2019 0.09%
ARCELORMITTAL USD 06.1250 06/01/2025 0.09%
BEACON ESCROW CORP P/P 144A 04.8750 11/01/2025 0.09%
CENTENE CORP 04.7500 05/15/2022 0.09%
CENTENE CORP 06.1250 02/15/2024 0.09%
CHEMOURS CO 06.6250 05/15/2023 0.09%
CHS/COMMUNITY HEALTH SYS 06.2500 03/31/2023 0.09%
DENBURY RESOURCES IN P/P 144A 09.0000 05/15/2021 0.09%
ENSCO PLC USD 07.7500 02/01/2026 0.09%
EXTRACTION OIL & GAS P/P 144A 05.6250 02/01/2026 0.09%
FIRST DATA CORP P/P 144A 05.3750 08/15/2023 0.09%
FXI HOLDINGS INC P/P 144A 07.8750 11/01/2024 0.09%
IHS MARKIT LTD P/P 144A 04.7500 02/15/2025 0.09%
LEGRAND FRANCE USD 08.5000 02/15/2025 0.09%
LIONS GATE ENT P/P 144A 05.8750 11/01/2024 0.09%
MEREDITH CORP P/P 144A 06.8750 02/01/2026 0.09%
NOVA CHEMICALS CORP P/P 144A 05.2500 06/01/2027 0.09%
NOVELIS CORP P/P 144A 06.2500 08/15/2024 0.09%
OSHKOSH CORP 05.3750 03/01/2025 0.09%
SERVICE CORP INTL 05.3750 01/15/2022 0.09%
SPECTRUM BRANDS INC 06.1250 12/15/2024 0.09%
STERIGENICS-NORDION P/P 144A 06.5000 05/15/2023 0.09%
WEATHERFORD BERMUDA 09.8750 02/15/2024 0.09%
WMG ACQUISITION CORP P/P 144A 05.0000 08/01/2023 0.09%
WPX ENERGY INC 07.5000 08/01/2020 0.09%
ANTERO RESOURCES 05.3750 11/01/2021 0.08%
AUTOMATION TOOLING S P/P 144A 06.5000 06/15/2023 0.08%
BERRY GLOBAL GROUP INC 0.08%
BOMBARDIER INC P/P 144A 07.5000 12/01/2024 0.08%
BROOKFIELD RESID P/P 144A 06.5000 12/15/2020 0.08%
CLEAR CHANNEL COMMUN 09.0000 12/15/2019 0.08%
COLORADO INTERSTATE GAS CO 06.8500 06/15/2037 0.08%
CONTINENTAL RESOURCES 03.8000 06/01/2024 0.08%
CROWN CORK & SEAL CO INC 07.3750 12/15/2026 0.08%
CROWNROCK LP/CROWNRO P/P 144A 05.6250 10/15/2025 0.08%
DISH DBS CORP 05.8750 11/15/2024 0.08%
HCA INC 05.2500 06/15/2026 0.08%
HUDBAY MINERALS INC P/P 144A 07.6250 01/15/2025 0.08%
ICAHN ENTERPRISES/FI 05.8750 02/01/2022 0.08%
INGEVITY CORP P/P 144A 04.5000 02/01/2026 0.08%
KINETIC CONCEPT/KCI P/P 144A 12.5000 11/01/2021 0.08%
MALLINCKRODT FIN/SB P/P 144A 05.5000 04/15/2025 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%
SIRIUS XM RADIO INC P/P 144A 05.0000 08/01/2027 0.08%
SPRINGLEAF FINANCE CORP 06.1250 05/15/2022 0.08%
STARWOOD PROP TR P/P 144A 04.7500 03/15/2025 0.08%
THE NEIMAN MARCUS GROUP LLC 07.1250 06/01/2028 0.08%
TRI POINTE GROUP / HOMES 05.8750 06/15/2024 0.08%
TRIDENT MERGER SUB P/P 144A 06.6250 11/01/2025 0.08%
UNIVISION COMM P/P 144A 05.1250 02/15/2025 0.08%
USIS MERGER SUB INC P/P 144A 06.8750 05/01/2025 0.08%
VALEANT PHARMA P/P 144A 09.2500 04/01/2026 0.08%
1011778 BC / NEW RED P/P 144A 04.2500 05/15/2024 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%
CALFRAC HOLDINGS LP P/P 144A 07.5000 12/01/2020 0.07%
CALPINE CORP P/P 144A 05.2500 06/01/2026 0.07%
CBS OUT AMER CAP LLC 05.8750 03/15/2025 0.07%
CCO HLDGS LLC/CAP CO P/P 144A 05.7500 02/15/2026 0.07%
CENOVUS ENERGY INC USD 06.7500 11/15/2039 0.07%
CF INDUSTRIES INC 04.9500 06/01/2043 0.07%
CHEMOURS CO 07.0000 05/15/2025 0.07%
CHENIERE CORP CHRIST 05.1250 06/30/2027 0.07%
CIT GROUP INC 0.07%
CONTINENTAL RESOURCES INC. 04.5000 04/15/2023 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%
GCP APPLIED TECH P/P 144A 05.5000 04/15/2026 0.07%
JO-ANN HOLDCO P/P 144A 09.7500 10/15/2019 0.07%
KFC HLD/PIZZA HUT/TA P/P 144A 05.0000 06/01/2024 0.07%
KFC HLD/PIZZA HUT/TA P/P 144A 05.2500 06/01/2026 0.07%
MERCER INTL INC P/P 144A 05.5000 01/15/2026 0.07%
NETFLIX INC P/P 144A 04.8750 04/15/2028 0.07%
PENN NATIONAL GAMING P/P 144A 05.6250 01/15/2027 0.07%
PULTEGROUP INC 05.5000 03/01/2026 0.07%
RBS GLOBAL/REXNO P/P 144A 04.8750 12/15/2025 0.07%
REGENCY ENERGY P 04.5000 11/01/2023 0.07%
SESI LLC P/P 144A 07.7500 09/15/2024 0.07%
SM ENERGY CO 06.5000 11/15/2021 0.07%
SPRINGLEAF FINANCE CORP 06.8750 03/15/2025 0.07%
STEARNS HOLDINGS LLC P/P 144A 09.3750 08/15/2020 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%
T-MOBILE USA INC 04.7500 02/01/2028 0.07%
TALLGRASS NRG PRTNR P/P 144A 05.5000 01/15/2028 0.07%
TENNANT CO 05.6250 05/01/2025 0.07%
TI GROUP AUTO SYS LL P/P 144A 08.7500 07/15/2023 0.07%
TRANSDIGM INC 06.5000 05/15/2025 0.07%
TRANSDIGM INC 06.5000 07/15/2024 0.07%
TRIBUNE MEDIA CO 05.8750 07/15/2022 0.07%
TRINIDAD DRILLING LT P/P 144A 06.6250 02/15/2025 0.07%
TRONOX INC P/P 144A 06.5000 04/15/2026 0.07%
UNIVAR USA INC P/P 144A 06.7500 07/15/2023 0.07%
VALEANT PHARMA P/P 144A 09.0000 12/15/2025 0.07%
VIDEOTRON LTD / LTEE P/P 144A 05.1250 04/15/2027 0.07%
WOLVERINE WORLD WIDE P/P 144A 05.0000 09/01/2026 0.07%
ALLEGHENY TECHNOLOGIES 07.8750 08/15/2023 0.06%
ALLISON TRANSMISSION P/P 144A 05.0000 10/01/2024 0.06%
AMC ENT HOLDIN 05.8750 11/15/2026 0.06%
CHARTER COMMUNICATIONS INC-A 0.06%
CHESAPEAKE ENERGY CO P/P 144A 08.0000 01/15/2025 0.06%
CHS/COMMUNITY HEALTH SYS 07.1250 07/15/2020 0.06%
CIT GROUP INC 05.0000 08/01/2023 0.06%
CLEAR CHNL WORLD 07.6250 03/15/2020 0.06%
COMMSCOPE TECH LLC P/P 144A 05.0000 03/15/2027 0.06%
EP ENER/EVEREST ACQ P/P 144A 09.3750 05/01/2024 0.06%
FRONTIER COMM 10.5000 09/15/2022 0.06%
GENON ENERGY INC. 09.8750 10/15/2020 0.06%
GLP CAP LP / FIN II 04.8750 11/01/2020 0.06%
GOEASY LTD P/P 144A 07.8750 11/01/2022 0.06%
GRAY TELEVISION INC P/P 144A 05.8750 07/15/2026 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%
JACOBS ENT INC P/P 144A 07.8750 02/01/2024 0.06%
JONAH NRG LLC/FINANC P/P 144A 07.2500 10/15/2025 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%
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%
QEP RESOURCES INC 05.6250 03/01/2026 0.06%
REGAL ENTERTAINMENT GRP 05.7500 06/15/2023 0.06%
REVLON CONSUMER PRODS 05.7500 02/15/2021 0.06%
SEVEN GENERATIONS P/P 144A 05.3750 09/30/2025 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%
WASTE PRO USA INC P/P 144A 05.5000 02/15/2026 0.06%
WR GRACE & CO-CONN P/P 144A 05.6250 10/01/2024 0.06%
WYNDHAM HOTELS & RE P/P 144A 05.3750 04/15/2026 0.06%
ALLY FINANCIAL INC 08.0000 03/15/2020 0.05%
ALLY FINANCIAL INC 08.0000 12/31/2018 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%
BERRY GLOBAL INC 05.5000 05/15/2022 0.05%
CHESAPEAKE ENERGY CORP 05.7500 03/15/2023 0.05%
CINEMARK USA INC 04.8750 06/01/2023 0.05%
CIT GROUP INC 05.2500 03/07/2025 0.05%
CIT GROUP INC P/P 144A 05.5000 02/15/2019 0.05%
CIT GROUP INC. 05.0000 08/15/2022 0.05%
CPG MERGER SUB LLC P/P 144A 08.0000 10/01/2021 0.05%
DYNEGY INC P/P 144A 08.1250 01/30/2026 0.05%
ENRGY TRANS PT/REG FIN 05.0000 10/01/2022 0.05%
ESH HOSPITALITY INC P/P 144A 05.2500 05/01/2025 0.05%
HCA INC 03.7500 03/15/2019 0.05%
ICAHN ENTER/FIN 06.0000 08/01/2020 0.05%
ICAHN ENTER/FIN 06.7500 02/01/2024 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%
JELD-WEN INC P/P 144A 04.6250 12/15/2025 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%
LENNAR CORP P/P 144A 05.8750 11/15/2024 0.05%
LIVE NATION ENTERTAI P/P 144A 05.6250 03/15/2026 0.05%
MEG ENERGY CORP P/P 144A 06.5000 01/15/2025 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%
PENSKE AUTOMOTIVE GROUP 05.5000 05/15/2026 0.05%
PLATFORM SPECIALTY P/P 144A 06.5000 02/01/2022 0.05%
SM ENERGY CO 06.7500 09/15/2026 0.05%
SPECTRUM BRANDS INC 05.7500 07/15/2025 0.05%
SPRINT COMMUNICATIONS INC. 07.0000 08/15/2020 0.05%
STANDARD IND INC P/P 144A 05.0000 02/15/2027 0.05%
STEEL DYNAMICS INC 05.2500 04/15/2023 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%
TRAVELPORT CORP FIN P/P 144A 06.0000 03/15/2026 0.05%
VERMILION ENERGY INC P/P 144A 05.6250 03/15/2025 0.05%
WHITING PETROLEUM C P/P 144A 06.6250 01/15/2026 0.05%
WINDSTREAM SRVC / FIN 06.3750 08/01/2023 0.05%
1011778 BC / NEW RED P/P 144A 04.6250 01/15/2022 0.04%
A SCHULMAN INC 06.8750 06/01/2023 0.04%
AES CORP/THE 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%
BANK OF AMERICA CORP 06.5000 10/29/2049 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%
CBS OUT AMER CAP LLC 05.6250 02/15/2024 0.04%
CHEMOURS CO 05.3750 05/15/2027 0.04%
CHINA MEDICAL TECH INC USD 04.0000 08/15/2018 0.04%
CIT GROUP INC 03.8750 02/19/2019 0.04%
CREDIT ACCEPTANC 06.1250 02/15/2021 0.04%
CREDIT ACCEPTANC 07.3750 03/15/2023 0.04%
CROWN AMER/CAP P/P 144A 04.7500 02/01/2026 0.04%
CROWN HOLDINGS INC 0.04%
CSC HOLDINGS LLC 06.7500 11/15/2021 0.04%
DENBURY RESOURCES INC 06.3750 08/15/2021 0.04%
DIAMONDBACK ENERGY INC 04.7500 11/01/2024 0.04%
ELDORADO RESORTS INC 07.0000 08/01/2023 0.04%
ENDEAVOR ENERGY P/P 144A 05.5000 01/30/2026 0.04%
ENERGY TRANSFER EQUITY 05.5000 06/01/2027 0.04%
EP ENER/EVEREST ACQ P/P 144A 08.0000 02/15/2025 0.04%
GENON AMERICAS GENR LLC 09.1250 05/01/2031 0.04%
GFL ENVIRONMENTAL P/P 144A 05.3750 03/01/2023 0.04%
GLP CAPITAL LP / FIN II 05.3750 04/15/2026 0.04%
JELD-WEN INC P/P 144A 04.8750 12/15/2027 0.04%
LIBERTY MUTUAL GROUP P/P 144A 07.8000 03/15/2037 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%
NEIMAN MARCUS GROUP P/P 144A 08.7500 10/15/2021 0.04%
NORTHWEST ACQ/DOMIN P/P 144A 07.1250 11/01/2022 0.04%
PISCES MIDCO INC P/P 144A 08.0000 04/15/2026 0.04%
POMEGRANATE MERGER S P/P 144A 09.7500 05/01/2023 0.04%
ROSE ROCK MIDSTREAM/ 05.6250 11/15/2023 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%
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%
WABASH NATIONAL CORP P/P 144A 05.5000 10/01/2025 0.04%
WELLCARE HEALTH PLANS 05.2500 04/01/2025 0.04%
AES CORP/THE 04.5000 03/15/2023 0.03%
AMC ENTERTAINMENT HOLDIN 05.8750 02/15/2022 0.03%
ANTERO RESOURCES COR 05.6250 06/01/2023 0.03%
BAYTEX ENERGY CORP P/P 144A 05.1250 06/01/2021 0.03%
BERRY GLOBAL INC 05.1250 07/15/2023 0.03%
BERRY GLOBAL INC P/P 144A 04.5000 02/15/2026 0.03%
BOYD GAMING CORP 06.3750 04/01/2026 0.03%
BOYNE USA INC P/P 144A 07.2500 05/01/2025 0.03%
CABLEVISION SYS CORP 08.0000 04/15/2020 0.03%
CEQUEL COM HLDG I/CA P/P 144A 05.1250 12/15/2021 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%
EVEREST ACQ LLC/FIN 09.3750 05/01/2020 0.03%
HCA INC. 07.5000 02/15/2022 0.03%
IRON MOUNTAIN INC P/P 144A 05.2500 03/15/2028 0.03%
ISTAR INC 05.2500 09/15/2022 0.03%
ISTAR INC 06.0000 04/01/2022 0.03%
LIVE NATION ENTERTAINMENT IN 0.03%
MERCER INTL INC USD 07.7500 12/01/2022 0.03%
MGM GROWTH/MGM FINANCE 04.5000 01/15/2028 0.03%
NEIMAN MARCUS GROUP P/P 144A 08.0000 10/15/2021 0.03%
NEW GOLD INC P/P 144A 06.3750 05/15/2025 0.03%
NOBLE HLDG INTL LTD P/P 144A 07.8750 02/01/2026 0.03%
NRG ENERGY INC P/P 144A 05.7500 01/15/2028 0.03%
SANDRIDGE ENERGY INC 0.03%
SEMGROUP CORP 06.3750 03/15/2025 0.03%
SESI LLC 07.1250 12/15/2021 0.03%
SEVEN GENERATIONS EN P/P 144A 06.7500 05/01/2023 0.03%
SEVEN GENERATIONS ENERGY - A 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 04.5000 02/01/2026 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%
VALEANT PHARMA P/P 144A 06.5000 03/15/2022 0.03%
WEATHERFORD INTL LLC P/P 144A 09.8750 03/01/2025 0.03%
WPX ENERGY INC 08.2500 08/01/2023 0.03%
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 12/17/2018 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%
HALCON RESOURCES CORP 0.02%
IHS MARKIT LTD P/P 144A 04.0000 03/01/2026 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%
PETSMART INC P/P 144A 07.1250 03/15/2023 0.02%
QUEBECOR MEDIA INC USD 05.7500 01/15/2023 0.02%
SERVICE CORP INTL 04.6250 12/15/2027 0.02%
STEEL DYNAMICS INC 04.1250 09/15/2025 0.02%
T-MOBILE USA INC. 04.0000 04/15/2022 0.02%
TARGA RES PRTNRS 05.1250 02/01/2025 0.02%
VALEANT PHARMA P/P 144A 05.5000 11/01/2025 0.02%
WEATHERFORD BERMUDA 08.2500 06/15/2023 0.02%
WMG ACQUISITION CORP P/P 144A 05.5000 04/15/2026 0.02%
CAESARS ENTERTAINMENT CORP 0.01%
CONCORDIA INTL P/P 144A 07.0000 04/15/2023 0.01%
INTELSAT CONNECT FIN P/P 144A 12.5000 04/01/2022 0.01%
MEG ENERGY CORP P/P 144A 07.0000 03/31/2024 0.01%
NINE POINT ENERGY COM 0.01%
OASIS PETROLEUM INC 06.8750 01/15/2023 0.01%
PACTIV LLC 08.3750 04/15/2027 0.01%
STANDARD IND INC P/P 144A 04.7500 01/15/2028 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%
AVAYA INC ESCROW P/P 144A 07.0000 04/01/2019 0.00%
CAD/USD 04/18/2018 CITI 0.00%
CAD/USD 04/18/2018 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 06/20/2018 BANKAM 0.00%
HALCON RESOURCES CORP - WARRA 0.00%
INTELSAT JACKSON HLD P/P 144A 08.0000 02/15/2024 0.00%
MILAGRO OIL & GAS 0.00%
POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 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%
THE EURO EUR CALL ACCOUNT 0.00%
TXU TCEH RIGHTS 0.00%

Prior top 10 holdings

Top 10 holdings as of 06/30/18
Microchip Technology
Dish Network Corp
BD Medical
Bank of America
Tesla
Chesapeake Energy Corp
Micron Technology
Twitter
Hess Corp
Booking Holdings
Holdings represent 18.04% of portfolio
Top 10 holdings as of 05/31/18
Microchip Technology
Micron Technology
Dish Network Corp
Bank Of America Corp
Chesapeake Energy Corp
BD Medical
Novellus Systems
Intel Corp
Crown Castle Int
Tesla
Holdings represent 13.50% of portfolio
Top 10 holdings as of 04/30/18
Microchip Technology
Dish Network Corp
Micron Technology
Bank Of America Corp
BD Medical
Chesapeake Energy
Liberty Media Corp
Novellus Systems
Booking Holdings
Tesla
Holdings represent 13.54% of portfolio
Top 10 holdings as of 03/31/18
Micron Technology
Microchip Technology
Dish Network Corp
Bank Of America Corp
Chesapeake Energy
Novellus Systems
BD Medical
Liberty Media Corp
Liberty Interactive Llc
Crown Castle Int
Holdings represent 15.01% of portfolio

Maturity detail

0 - 1 yr. 3.29%
1 - 5 yrs. 47.67%
5 - 10 yrs. 40.29%
10 - 15 yrs. 2.36%
Over 15 yrs. 6.39%

Quality rating

Equity 15.69%
A 2.36%
BBB 3.34%
BB 26.63%
B 21.64%
CCC and Below 5.95%
Not Rated 21.90%
Cash and net other assets 2.49%

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. Cash and net other assets, 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 06/30/18

Technology 21.47%
Consumer cyclicals 14.80%
Financials 11.82%
Health care 10.61%
Energy 9.47%
Communication services 9.02%
Basic materials 6.25%
Capital goods 5.97%
Consumer staples 4.37%
 
Other
6.22%
Utilities 2.59%
Cash and net other assets 2.49%
Transportation 1.00%
Conglomerates 0.14%

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 High Income Securities Blended Index is an unmanaged index administered by Putnam Management, 50% of which is the JPMorgan Developed High Yield Index and 50% of which is the ICE BofAML Speculative Grade U.S. Convertible Index. The JPMorgan Developed High Yield Index is an unmanaged index of high-yield fixed-income securities issued in developed countries. The ICE BofAML Speculative Grade U.S. Convertible Index is comprised of approximately 300 issues of only speculative-grade convertible bonds and preferreds. 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. Cash and net other assets, 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.