Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds (2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which have been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Active Income
Convertible Securities Fund (Class Y) (PCGYX)
Offering investors the diverse benefits of convertible securities since 1972
Highlights
Objective
The fund seeks, with equal emphasis, current income and capital appreciation. Its secondary objective is conservation of capital.
Strategy and process
- Balanced profile: The fund seeks to achieve an equilibrium balancing much of the upside potential of equities, the lower downside risk of bonds, and an attractive current yield.
- Effective diversification: The fund can provide effective diversification for investor portfolios; convertible securities are not highly correlated with stocks and correlation is near zero versus aggregate bond strategies.
- Joint venture: Uniquely combining both dedicated fixed income and equity expertise to enhance the ability to fully exploit these hybrid securities.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$33.84
0.03% | $0.01 |
$36.07
12/22/20 |
$20.14
03/23/20 |
Fund facts as of 12/31/20
$1,028.56M
98%
Quarterly
127
October
746476407 / 1807
12/30/98
Taxable Income
PCGYX
Management team
Literature
Fund documents |
| Prospectuses/SAI |
| Holding the middle ground with convertible securities (PDF) |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (YA share) (PDF) |
| Annual Fund Report (PDF) |
| Semiannual Fund Report (PDF) |
| Quarterly commentary (PDF) |
Performance
Consistency of positive performance over five years
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
23.04%
Best 5-year annualized return
(for period ending 03/31/83)
-3.30%
Worst 5-year annualized return
(for period ending 12/31/08)
10.48%
Average 5-year annualized return
Total return (%) as of 12/31/20
Annual performance as of 12/31/20
Annualized Total return (%) as of 12/31/20
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 45.33% | 20.65% | 17.31% | 11.43% |
| After sales charge | N/A | N/A | N/A | N/A |
| ICE BofA U.S. Convertible Index | 46.22% | 21.72% | 17.76% | 12.59% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 12/31/20 | 5.84% | - | |
| YTD as of 01/22/21 | 4.87% | - | |
Yield
| Distribution rate before sales charge as of 01/22/21 |
1.26% |
|---|---|
| Distribution rate after sales charge as of 01/22/21 |
1.26% |
| 30-day SEC yield as of 12/31/20 | 0.19% |
Risk-adjusted performance as of 12/31/20
| Alpha (3 yrs.) | 0.37 |
|---|---|
| Sharpe ratio (3 yrs.) | 1.22 |
| Treynor ratio (3 yrs.) | 20.63 |
| Information ratio (3 yrs.) | -0.37 |
Volatility as of 12/31/20
| Standard deviation (3 yrs.) | 15.74% |
|---|---|
| Beta | 0.93 |
| R-squared | 0.97 |
Fixed income statistics as of 12/31/20
| Average effective duration | 1.57 yrs. |
|---|
Capture ratio as of 12/31/20
| Up-market (3 yrs.) | 95.35 |
|---|---|
| Down-market (3 yrs.) | 96.46 |
Lipper rankings as of 12/31/20
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 35/76 | 46% |
| 3 yrs. | 38/71 | 53% |
| 5 yrs. | 30/69 | 43% |
| 10 yrs. | 21/50 | 42% |
Morningstar Ratings™ as of 12/31/20
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 71 | |
| 3 yrs. | 71 | |
| 5 yrs. | 69 | |
| 10 yrs. | 50 |
Distributions
| Record/Ex dividend date | 12/28/20 |
|---|---|
| Payable date | 12/30/20 |
| Income | $0.107 |
| Extra income | -- |
| Short-term cap. gain | $0.964 |
| Long-term cap. gain | $2.432 |
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
| Tesla | 5.09% |
|---|---|
| Broadcom | 2.26% |
| Square | 2.03% |
| Zillow Group | 2.01% |
| Nextera Energy | 1.95% |
| Liberty Media Corp | 1.81% |
| Okta | 1.76% |
| Coupa Software | 1.74% |
| Southwest Airlines | 1.71% |
| Palo Alto Networks | 1.61% |
| Top 10 holdings, percent of portfolio | 21.97% |
| Top 10 holdings as of 12/31/20 | |
|---|---|
| Tesla | |
| Broadcom | |
| Square | |
| Zillow Group | |
| Nextera Energy | |
| Liberty Media Corp | |
| Okta | |
| Coupa Software | |
| Southwest Airlines | |
| Palo Alto Networks | |
| Holdings represent 21.97% of portfolio | |
| Top 10 holdings as of 11/30/20 | |
|---|---|
| Tesla | |
| Broadcom | |
| Microchip Technology | |
| Square | |
| Southwest Airlines | |
| Liberty Media Corp | |
| Coupa Software | |
| Okta | |
| Nextera Energy | |
| Zillow Group | |
| Holdings represent 23.19% of portfolio | |
| Top 10 holdings as of 10/31/20 | |
|---|---|
| Tesla | |
| Broadcom | |
| Danaher Corp | |
| Square | |
| Nextera Energy | |
| Microchip Technology | |
| Southwest Airlines | |
| Zillow Group | |
| Splunk | |
| Okta | |
| Holdings represent 20.97% of portfolio | |
| Top 10 holdings as of 09/30/20 | |
|---|---|
| Tesla | |
| Broadcom | |
| Danaher Corp | |
| Microchip Technology | |
| Square | |
| Dexcom | |
| Zillow Group | |
| Splunk | |
| Dish Network Corp | |
| Southwest Airlines | |
| Holdings represent 21.28% of portfolio | |
| TESLA INC CV 02.0000 05/15/2024 | 5.09% |
|---|---|
| BROADCOM INC 08.0000 CV PFD | 2.26% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 2.01% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.95% |
| OKTA INC P/P 144A CV 00.3750 06/15/2026 | 1.76% |
| COUPA SOFTWAR P/P 144A CV 00.3750 06/15/2026 | 1.74% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.71% |
| SQUARE INC P/P 144A CV 00.1250 03/01/2025 | 1.66% |
| PALO ALTO NET P/P 144A CV 00.3750 06/01/2025 | 1.61% |
| RINGCENTRAL P/P 144A CV 00.0000 03/01/2025 | 1.60% |
| DANAHER CORP 05.0000 CV PFD | 1.59% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 1.53% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.40% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.37% |
| SNAP INC CV 00.7500 08/01/2026 | 1.32% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 1.16% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 1.09% |
| PIONEER NAT P/P 144A CV 00.2500 05/15/2025 | 1.04% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 1.02% |
| APTIV PLC 05.5000 CV PFD | 1.01% |
| KKR & CO INC 06.0000 CUM CV PFD | 1.01% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 0.99% |
| MONGODB INC P/P 144A CV 00.2500 01/15/2026 | 0.96% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.94% |
| BURL STORE P/P 144A CV 02.2500 04/15/2025 | 0.92% |
| NCL CORP LTD P/P 144A CV 05.3750 08/01/2025 | 0.92% |
| BOOKING HLDS P/P 144A CV 00.7500 05/01/2025 | 0.92% |
| ZENDESK INC P/P 144A CV 00.6250 06/15/2025 | 0.92% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.90% |
| ATLASSIAN INC CV 00.6250 05/01/2023 | 0.88% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.88% |
| WAYFAIR INC P/P 144A CV 00.6250 10/01/2025 | 0.88% |
| BLOOMIN BRAND P/P 144A CV 05.0000 05/01/2025 | 0.88% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.87% |
| FIVE9 INC P/P 144A CV 00.5000 06/01/2025 | 0.84% |
| PENN NATIONAL GAMING CV 02.7500 05/15/2026 | 0.84% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 0.83% |
| VAIL RESORTS P/P 144A CV 00.0000 01/01/2026 | 0.82% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 0.80% |
| NATIONAL VIS P/P 144A CV 02.5000 05/15/2025 | 0.80% |
| RH P/P 144A CV 00.0000 09/15/2024 | 0.79% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 0.79% |
| DTE ENERGY CO 06.2500 CV PFD | 0.78% |
| ROYAL CARIBBE P/P 144A CV 02.8750 11/15/2023 | 0.76% |
| CLOUDFLARE P/P 144A CV 00.7500 05/15/2025 | 0.76% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 0.75% |
| LIVEPERSON IN P/P 144A CV 00.0000 12/15/2026 | 0.74% |
| NATERA INC P/P 144A CV 02.2500 05/01/2027 | 0.74% |
| SPLUNK INC CV 01.1250 09/15/2025 | 0.73% |
| MIDDLEBY CORP P/P 144A CV 01.0000 09/01/2025 | 0.73% |
| VIAVI SOLUTIO CV 01.0000 03/01/2024 | 0.73% |
| SAILPOINT TCH CV 00.1250 09/15/2024 | 0.72% |
| CHEGG INC P/P 144A CV 00.0000 09/01/2026 | 0.72% |
| SHIFT4 PAYMEN P/P 144A CV 00.0000 12/15/2025 | 0.71% |
| REDFIN CORP P/P 144A CV 00.0000 10/15/2025 | 0.70% |
| EVERBRIDGE P/P CV 00.1250 12/15/2024 | 0.70% |
| REVANCE THERA P/P 144A CV 01.7500 02/15/2027 | 0.70% |
| ETSY INC P/P 144A CV 00.1250 09/01/2027 | 0.69% |
| HUBSPOT INC P/P 144A CV 00.3750 06/01/2025 | 0.69% |
| PG&E CORP 05.5000 CV PFD | 0.69% |
| TELADOC HE P/P 144A CV 01.2500 06/01/2027 | 0.69% |
| DICK'S SPORT P/P 144A CV 03.2500 04/15/2025 | 0.69% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.67% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.67% |
| NOVOCURE LTD P/P 144A 00.0000 11/01/2025 | 0.66% |
| 1LIFE HEALTH P/P 144A CV 03.0000 06/15/2025 | 0.66% |
| DEXCOM INC P/P 144A CV 00.2500 11/15/2025 | 0.66% |
| VONAGE HLDGS CV 01.7500 06/01/2024 | 0.65% |
| TECHTARGET P/P 144A CV 00.1250 12/15/2025 | 0.65% |
| INTEGRA LIFE P/P 144A CV 00.5000 08/15/2025 | 0.64% |
| FIVERR INTL LTD P/P 144A 00.0000 11/01/2025 | 0.64% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.64% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.64% |
| PACIRA PHARMA P/P 144A CV 00.7500 08/01/2025 | 0.64% |
| WINNEBAGO IND CV 01.5000 04/01/2025 | 0.63% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.62% |
| DOMINION ENERGY INC 07.2500 CUM CV PFD | 0.62% |
| ENVISTA HLDGS P/P 144A CV 02.3750 06/01/2025 | 0.62% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.60% |
| CHEGG INC CV 00.1250 03/15/2025 | 0.58% |
| SOLAR EDGE TECH P/P 144A 00.0000 09/15/2025 | 0.58% |
| OMNICELL INC P/P 144A CV 00.2500 09/15/2025 | 0.57% |
| SPLUNK INC P/P 144A CV 01.1250 06/15/2027 | 0.57% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.57% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 0.56% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.55% |
| WIX LTD P/P 144A 00.0000 08/15/2025 | 0.54% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.53% |
| LIBERTY MEDIA | 0.53% |
| ZYNGA INC P/P 144A CV 00.0000 12/15/2026 | 0.52% |
| LYFT INC P/P 144A CV 01.5000 05/15/2025 | 0.52% |
| INPHI CORP P/P 144A CV 00.7500 04/15/2025 | 0.52% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.51% |
| SEA LTD P/P 144A 02.3750 12/01/2025 | 0.51% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.50% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.50% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.50% |
| LUMENTUM HOLD CV 00.5000 12/15/2026 | 0.50% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 0.50% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.50% |
| SABRE CORP 06.5000 CV PFD | 0.50% |
| UBER TECH INC P/P 144A CV 00.0000 12/15/2025 | 0.50% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.48% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.46% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.46% |
| CHANGE HEALTHCARE INC 06.0000 CV PFD | 0.42% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.42% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.41% |
| CARNIVAL CORP P/P 144A CV 05.7500 04/01/2023 | 0.40% |
| CALLAWAY GOLF P/P 144A CV 02.7500 05/01/2026 | 0.40% |
| COLONY STARWO CV 03.5000 01/15/2022 | 0.40% |
| TALEND SA P/P CV 01.7500 09/01/2024 | 0.40% |
| LIBERTY BROAD P/P 144A CV 01.2500 09/30/2050 | 0.38% |
| SQUARE INC P/P 144A CV 00.2500 11/01/2027 | 0.38% |
| GUESS INC P/P CV 02.0000 04/15/2024 | 0.37% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.35% |
| CINEMARK HOLD P/P 144A CV 04.5000 08/15/2025 | 0.32% |
| DEXCOM INC CV 00.7500 12/01/2023 | 0.26% |
| ETSY INC CV 00.1250 10/01/2026 | 0.24% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.20% |
| TELADOC INC CV 01.3750 05/15/2025 | 0.15% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2021 | 0.02% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| TESLA INC CV 02.0000 05/15/2024 | 5.11% |
|---|---|
| BROADCOM INC 08.0000 CV PFD | 2.32% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 2.07% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.93% |
| COUPA SOFTWAR P/P 144A CV 00.3750 06/15/2026 | 1.78% |
| OKTA INC P/P 144A CV 00.3750 06/15/2026 | 1.76% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.72% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 1.70% |
| SQUARE INC P/P 144A CV 00.1250 03/01/2025 | 1.67% |
| DANAHER CORP 05.0000 CV PFD | 1.65% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.52% |
| PALO ALTO NET P/P 144A CV 00.3750 06/01/2025 | 1.48% |
| BOOKING HLDS P/P 144A CV 00.7500 05/01/2025 | 1.47% |
| RINGCENTRAL P/P 144A CV 00.0000 03/01/2025 | 1.46% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.34% |
| SNAP INC CV 00.7500 08/01/2026 | 1.29% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 1.22% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 1.05% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 1.04% |
| ATLASSIAN INC CV 00.6250 05/01/2023 | 1.03% |
| FIVE9 INC P/P 144A CV 00.5000 06/01/2025 | 1.01% |
| KKR & CO INC 06.0000 CUM CV PFD | 1.00% |
| PIONEER NAT P/P 144A CV 00.2500 05/15/2025 | 0.98% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.95% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.95% |
| WAYFAIR INC P/P 144A CV 00.6250 10/01/2025 | 0.94% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.93% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.92% |
| CLOUDFLARE P/P 144A CV 00.7500 05/15/2025 | 0.91% |
| ZENDESK INC P/P 144A CV 00.6250 06/15/2025 | 0.90% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 0.88% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.87% |
| NCL CORP LTD P/P 144A CV 05.3750 08/01/2025 | 0.86% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.86% |
| SPLUNK INC CV 01.1250 09/15/2025 | 0.85% |
| BURL STORE P/P 144A CV 02.2500 04/15/2025 | 0.85% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.85% |
| MONGODB INC P/P 144A CV 00.2500 01/15/2026 | 0.84% |
| ETSY INC CV 00.1250 10/01/2026 | 0.84% |
| HUBSPOT INC P/P 144A CV 00.3750 06/01/2025 | 0.83% |
| BLOOMIN BRAND P/P 144A CV 05.0000 05/01/2025 | 0.83% |
| RH P/P 144A CV 00.0000 09/15/2024 | 0.82% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.82% |
| ROYAL CARIBBE P/P 144A CV 02.8750 11/15/2023 | 0.81% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 0.81% |
| DTE ENERGY CO 06.2500 CV PFD | 0.81% |
| NATERA INC P/P 144A CV 02.2500 05/01/2027 | 0.80% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 0.80% |
| NATIONAL VIS P/P 144A CV 02.5000 05/15/2025 | 0.79% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.78% |
| MIDDLEBY CORP P/P 144A CV 01.0000 09/01/2025 | 0.78% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 0.76% |
| PG&E CORP 05.5000 CV PFD | 0.72% |
| DICK'S SPORT P/P 144A CV 03.2500 04/15/2025 | 0.72% |
| PENN NATIONAL GAMING CV 02.7500 05/15/2026 | 0.71% |
| VIAVI SOLUTIO CV 01.0000 03/01/2024 | 0.71% |
| TELADOC HE P/P 144A CV 01.2500 06/01/2027 | 0.70% |
| WIX LTD P/P 144A 00.0000 08/15/2025 | 0.70% |
| INPHI CORP P/P 144A CV 00.7500 04/15/2025 | 0.69% |
| CHEGG INC P/P 144A CV 00.0000 09/01/2026 | 0.69% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.68% |
| SAILPOINT TCH CV 00.1250 09/15/2024 | 0.67% |
| FIVERR INTL LTD P/P 144A 00.0000 11/01/2025 | 0.67% |
| VONAGE HLDGS CV 01.7500 06/01/2024 | 0.66% |
| APTIV PLC 05.5000 CV PFD | 0.66% |
| REVANCE THERA P/P 144A CV 01.7500 02/15/2027 | 0.66% |
| PACIRA PHARMA P/P 144A CV 00.7500 08/01/2025 | 0.66% |
| DEXCOM INC P/P 144A CV 00.2500 11/15/2025 | 0.65% |
| EVERBRIDGE P/P 144A CV 00.1250 12/15/2024 | 0.65% |
| DOMINION ENERGY INC 07.2500 CUM CV PFD | 0.64% |
| SPLUNK INC P/P 144A CV 01.1250 06/15/2027 | 0.64% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.62% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.61% |
| INTEGRA LIFE P/P 144A CV 00.5000 08/15/2025 | 0.61% |
| WINNEBAGO IND CV 01.5000 04/01/2025 | 0.61% |
| REDFIN CORP P/P 144A CV 00.0000 10/15/2025 | 0.61% |
| 1LIFE HEALTH P/P 144A CV 03.0000 06/15/2025 | 0.59% |
| ENVISTA HLDGS P/P 144A CV 02.3750 06/01/2025 | 0.58% |
| NOVOCURE LTD P/P 144A 00.0000 11/01/2025 | 0.58% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.57% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.56% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 0.56% |
| SOLAR EDGE TECH P/P 144A 00.0000 09/15/2025 | 0.55% |
| CENTERPOINT ENERGY INC 07.0000 CV PFD | 0.54% |
| REALPAGE INC CV 01.5000 05/15/2025 | 0.54% |
| OMNICELL INC P/P 144A CV 00.2500 09/15/2025 | 0.54% |
| TESLA INC SEDOL B616C79 | 0.54% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.53% |
| CHEGG INC CV 00.1250 03/15/2025 | 0.53% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.53% |
| LIBERTY MEDIA | 0.52% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.51% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.50% |
| LUMENTUM HOLD P/P 144A CV 00.5000 12/15/2026 | 0.49% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.48% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.48% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 0.48% |
| SOUTHERN CO 06.7500 CV PFD | 0.48% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.48% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.47% |
| SEMPRA ENERGY 06.7500 CUM CV PFD | 0.46% |
| CHANGE HEALTHCARE INC 06.0000 CV PFD | 0.42% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.42% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.41% |
| DEXCOM INC CV 00.7500 12/01/2023 | 0.41% |
| COLONY STARWO CV 03.5000 01/15/2022 | 0.41% |
| TALEND SA P/P CV 01.7500 09/01/2024 | 0.40% |
| CARNIVAL CORP P/P 144A CV 05.7500 04/01/2023 | 0.39% |
| LIBERTY BROAD P/P 144A CV 01.2500 09/30/2050 | 0.39% |
| SQUARE INC P/P 144A CV 00.2500 11/01/2027 | 0.38% |
| CALLAWAY GOLF P/P 144A CV 02.7500 05/01/2026 | 0.38% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.37% |
| TESLA INC CV 02.3750 03/15/2022 | 0.36% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.34% |
| TELADOC INC CV 01.3750 05/15/2025 | 0.34% |
| GUESS INC P/P CV 02.0000 04/15/2024 | 0.33% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.32% |
| CINEMARK HOLD P/P 144A CV 04.5000 08/15/2025 | 0.30% |
| CROWN CASTLE INTL CORP SEDOL BTGQCX1 | 0.23% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.20% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2021 | 0.02% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| TESLA INC CV 02.0000 05/15/2024 | 3.92% |
|---|---|
| BROADCOM INC 08.0000 CV PFD | 2.33% |
| DANAHER CORP 05.0000 CV PFD | 2.14% |
| SQUARE INC P/P 144A CV 00.1250 03/01/2025 | 1.96% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.94% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 1.86% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.74% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 1.65% |
| OKTA INC P/P 144A CV 00.3750 06/15/2026 | 1.52% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.51% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.51% |
| COUPA SOFTWAR P/P 144A CV 00.3750 06/15/2026 | 1.50% |
| WAYFAIR INC P/P 144A CV 00.6250 10/01/2025 | 1.33% |
| SNAP INC CV 00.7500 08/01/2026 | 1.30% |
| BOOKING HLDS P/P 144A CV 00.7500 05/01/2025 | 1.19% |
| PALO ALTO NET P/P 144A CV 00.3750 06/01/2025 | 1.18% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 1.17% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 1.08% |
| KKR & CO INC 06.0000 CUM CV PFD | 1.05% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 1.04% |
| ATLASSIAN INC CV 00.6250 05/01/2023 | 0.98% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.98% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.97% |
| PIONEER NAT P/P 144A CV 00.2500 05/15/2025 | 0.97% |
| ETSY INC CV 00.1250 10/01/2026 | 0.94% |
| RH P/P 144A CV 00.0000 09/15/2024 | 0.94% |
| RINGCENTRAL P/P 144A CV 00.0000 03/01/2025 | 0.94% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.94% |
| SPLUNK INC CV 01.1250 09/15/2025 | 0.93% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.92% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 0.91% |
| INPHI CORP P/P 144A CV 00.7500 04/15/2025 | 0.90% |
| DTE ENERGY CO 06.2500 CV PFD | 0.89% |
| CLOUDFLARE P/P 144A CV 00.7500 05/15/2025 | 0.89% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.89% |
| CENTERPOINT ENERGY INC 07.0000 CV PFD | 0.88% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 0.87% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.87% |
| WIX LTD P/P 144A 00.0000 08/15/2025 | 0.86% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.86% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.82% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.82% |
| DICK'S SPORT P/P 144A CV 03.2500 04/15/2025 | 0.80% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 0.79% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.78% |
| TELADOC HE P/P 144A CV 01.2500 06/01/2027 | 0.78% |
| VIAVI SOLUTIO CV 01.0000 03/01/2024 | 0.76% |
| HUBSPOT INC P/P 144A CV 00.3750 06/01/2025 | 0.76% |
| CHEGG INC P/P 144A CV 00.0000 09/01/2026 | 0.75% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.75% |
| BURL STORE P/P 144A CV 02.2500 04/15/2025 | 0.74% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.74% |
| DOMINION ENERGY INC 07.2500 CUM CV PFD | 0.74% |
| DEXCOM INC P/P 144A CV 00.2500 11/15/2025 | 0.73% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 0.73% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 0.73% |
| NATERA INC P/P 144A CV 02.2500 05/01/2027 | 0.72% |
| MIDDLEBY CORP P/P 144A CV 01.0000 09/01/2025 | 0.71% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.71% |
| LENDINGTREE P/P 144A CV 00.5000 07/15/2025 | 0.70% |
| SPLUNK INC P/P 144A CV 01.1250 06/15/2027 | 0.70% |
| ZENDESK INC P/P 144A CV 00.6250 06/15/2025 | 0.69% |
| SAILPOINT TCH P/P CV 00.1250 09/15/2024 | 0.69% |
| VONAGE HLDGS CV 01.7500 06/01/2024 | 0.68% |
| ALTERYX INC P/P CV 00.5000 08/01/2024 | 0.68% |
| CREE INC P/P 144A CV 01.7500 05/01/2026 | 0.68% |
| REVANCE THERA P/P 144A CV 01.7500 02/15/2027 | 0.67% |
| NATIONAL VIS P/P 144A CV 02.5000 05/15/2025 | 0.66% |
| REDFIN CORP P/P 144A CV 00.0000 10/15/2025 | 0.64% |
| WINNEBAGO IND P/P 144A CV 01.5000 04/01/2025 | 0.64% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 0.64% |
| PENN NATIONAL GAMING CV 02.7500 05/15/2026 | 0.63% |
| APTIV PLC 05.5000 CV PFD | 0.63% |
| FIVE9 INC P/P 144A CV 00.5000 06/01/2025 | 0.62% |
| 1LIFE HEALTH P/P 144A CV 03.0000 06/15/2025 | 0.61% |
| BLOOMIN BRAND P/P 144A CV 05.0000 05/01/2025 | 0.61% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.61% |
| DEXCOM INC CV 00.7500 12/01/2023 | 0.61% |
| MONGODB INC P/P 144A CV 00.2500 01/15/2026 | 0.60% |
| SOLAR EDGE TECH P/P 144A 00.0000 09/15/2025 | 0.60% |
| ENVISTA HLDGS P/P 144A CV 02.3750 06/01/2025 | 0.60% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.57% |
| CHEGG INC CV 00.1250 03/15/2025 | 0.57% |
| PACIRA PHARMA P/P 144A CV 00.7500 08/01/2025 | 0.56% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.55% |
| REALPAGE INC CV 01.5000 05/15/2025 | 0.55% |
| EVERBRIDGE P/P 144A CV 00.1250 12/15/2024 | 0.55% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.54% |
| OMNICELL INC P/P 144A CV 00.2500 09/15/2025 | 0.53% |
| NCL CORP LTD P/P 144A CV 05.3750 08/01/2025 | 0.52% |
| SOUTHERN CO 06.7500 CV PFD | 0.52% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.52% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.51% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.50% |
| PROOFPOINT IN CV 00.2500 08/15/2024 | 0.50% |
| ROYAL CARIBBE P/P 144A CV 02.8750 11/15/2023 | 0.49% |
| SEMPRA ENERGY 06.0000 CUM CV PFD | 0.48% |
| TALEND SA P/P CV 01.7500 09/01/2024 | 0.46% |
| FIVERR INTL LTD P/P 144A 00.0000 11/01/2025 | 0.46% |
| FTI CONSULTIN CV 02.0000 08/15/2023 | 0.45% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.45% |
| INTL FLAVOR & FRAGRANCES 06.0000 CV PFD | 0.45% |
| COLONY STARWO CV 03.5000 01/15/2022 | 0.44% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.44% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.43% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.42% |
| LIVONGO HLTH P/P 144A CV 00.8750 06/01/2025 | 0.40% |
| CHANGE HEALTHCARE INC 06.0000 CV PFD | 0.40% |
| INTEGRA LIFE P/P 144A CV 00.5000 08/15/2025 | 0.39% |
| TELADOC INC CV 01.3750 05/15/2025 | 0.38% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.36% |
| CALLAWAY GOLF P/P 144A CV 02.7500 05/01/2026 | 0.35% |
| LUMENTUM HOLD P/P 144A CV 00.5000 12/15/2026 | 0.34% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.33% |
| GUESS INC P/P CV 02.0000 04/15/2024 | 0.32% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.31% |
| CARNIVAL CORP P/P 144A CV 05.7500 04/01/2023 | 0.31% |
| CYBERARK SFTWARE P/P 144A 00.0000 11/15/2024 | 0.29% |
| TESLA INC CV 02.3750 03/15/2022 | 0.27% |
| GCI LIBERTY I P/P 144A CV 01.7500 09/30/2046 | 0.24% |
| CROWN CASTLE INTL CORP SEDOL BTGQCX1 | 0.24% |
| CINEMARK HOLD P/P 144A CV 04.5000 08/15/2025 | 0.22% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.21% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2021 | 0.02% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| TESLA INC CV 02.0000 05/15/2024 | 4.53% |
|---|---|
| BROADCOM INC 08.0000 CV PFD | 2.44% |
| DANAHER CORP 05.0000 CV PFD | 2.05% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 2.00% |
| SQUARE INC P/P 144A CV 00.1250 03/01/2025 | 1.92% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 1.62% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.57% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.57% |
| COUPA SOFTWAR P/P 144A CV 00.3750 06/15/2026 | 1.52% |
| OKTA INC P/P 144A CV 00.3750 06/15/2026 | 1.52% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.35% |
| BOOKING HLDS P/P 144A CV 00.7500 05/01/2025 | 1.34% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 1.33% |
| PENN NATIONAL GAMING CV 02.7500 05/15/2026 | 1.29% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.27% |
| PALO ALTO NET P/P 144A CV 00.3750 06/01/2025 | 1.23% |
| RH P/P 144A CV 00.0000 09/15/2024 | 1.23% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 1.22% |
| WAYFAIR INC P/P 144A CV 00.6250 10/01/2025 | 1.16% |
| INSULET CORP P/P 144A CV 00.3750 09/01/2026 | 1.02% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 1.00% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.99% |
| SNAP INC CV 00.7500 08/01/2026 | 0.97% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 0.96% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.95% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.95% |
| RINGCENTRAL P/P 144A CV 00.0000 03/01/2025 | 0.95% |
| ETSY INC CV 00.1250 10/01/2026 | 0.95% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 0.95% |
| KKR & CO INC 06.0000 CUM CV PFD | 0.93% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.92% |
| SPLUNK INC CV 01.1250 09/15/2025 | 0.91% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.90% |
| DEXCOM INC CV 00.7500 12/01/2023 | 0.88% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.88% |
| WIX LTD P/P 144A 00.0000 08/15/2025 | 0.88% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.85% |
| INPHI CORP P/P 144A CV 00.7500 04/15/2025 | 0.84% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.84% |
| TELADOC HE P/P 144A CV 01.2500 06/01/2027 | 0.84% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.84% |
| DICK'S SPORT P/P 144A CV 03.2500 04/15/2025 | 0.82% |
| DEXCOM INC P/P 144A CV 00.2500 11/15/2025 | 0.80% |
| ZENDESK INC P/P 144A CV 00.6250 06/15/2025 | 0.78% |
| BURL STORE P/P 144A CV 02.2500 04/15/2025 | 0.78% |
| HUBSPOT INC P/P 144A CV 00.3750 06/01/2025 | 0.77% |
| CLOUDFLARE P/P 144A CV 00.7500 05/15/2025 | 0.76% |
| NATERA INC P/P 144A CV 02.2500 05/01/2027 | 0.76% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.75% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.75% |
| CHEGG INC P/P 144A CV 00.0000 09/01/2026 | 0.74% |
| DOMINION ENERGY INC 07.2500 CUM CV PFD | 0.73% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 0.72% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 0.72% |
| LENDINGTREE P/P 144A CV 00.5000 07/15/2025 | 0.69% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.69% |
| SPLUNK INC P/P 144A CV 01.1250 06/15/2027 | 0.69% |
| MIDDLEBY CORP P/P 144A CV 01.0000 09/01/2025 | 0.68% |
| PIONEER NAT P/P 144A CV 00.2500 05/15/2025 | 0.68% |
| CREE INC P/P 144A CV 01.7500 05/01/2026 | 0.68% |
| VONAGE HLDGS CV 01.7500 06/01/2024 | 0.67% |
| WINNEBAGO IND P/P 144A CV 01.5000 04/01/2025 | 0.67% |
| SAILPOINT TCH P/P 144A CV 00.1250 09/15/2024 | 0.66% |
| REVANCE THERA P/P 144A CV 01.7500 02/15/2027 | 0.66% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.66% |
| ATLASSIAN INC CV 00.6250 05/01/2023 | 0.66% |
| NCL CORP LTD P/P 144A CV 05.3750 08/01/2025 | 0.66% |
| BLOOMIN BRAND P/P 144A CV 05.0000 05/01/2025 | 0.66% |
| ALTERYX INC P/P CV 00.5000 08/01/2024 | 0.66% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 0.65% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.64% |
| NATIONAL VIS P/P 144A CV 02.5000 05/15/2025 | 0.64% |
| PROOFPOINT IN CV 00.2500 08/15/2024 | 0.63% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.63% |
| EVERBRIDGE P/P 144A CV 00.1250 12/15/2024 | 0.62% |
| MONGODB INC P/P 144A CV 00.2500 01/15/2026 | 0.61% |
| 1LIFE HEALTH P/P 144A CV 03.0000 06/15/2025 | 0.61% |
| VIAVI SOLUTIO CV 01.0000 03/01/2024 | 0.60% |
| PACIRA PHARMA P/P 144A CV 00.7500 08/01/2025 | 0.59% |
| CENTERPOINT ENERGY INC 07.0000 CV PFD | 0.59% |
| ENVISTA HLDGS P/P 144A CV 02.3750 06/01/2025 | 0.57% |
| FIVE9 INC P/P 144A CV 00.5000 06/01/2025 | 0.56% |
| CHEGG INC CV 00.1250 03/15/2025 | 0.56% |
| SOLAR EDGE TECH P/P 144A 00.0000 09/15/2025 | 0.56% |
| REALPAGE INC CV 01.5000 05/15/2025 | 0.55% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.55% |
| INTL FLAVOR & FRAGRANCES 06.0000 CV PFD | 0.53% |
| LIVONGO HLTH P/P 144A CV 00.8750 06/01/2025 | 0.53% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.51% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.50% |
| OMNICELL INC P/P 144A CV 00.2500 09/15/2025 | 0.50% |
| SOUTHERN CO 06.7500 CV PFD | 0.50% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.50% |
| CARNIVAL CORP P/P 144A CV 05.7500 04/01/2023 | 0.49% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.48% |
| FTI CONSULTIN CV 02.0000 08/15/2023 | 0.47% |
| TALEND SA P/P 144A CV 01.7500 09/01/2024 | 0.47% |
| SEMPRA ENERGY 06.0000 CUM CV PFD | 0.46% |
| COLONY STARWO CV 03.5000 01/15/2022 | 0.45% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.43% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.43% |
| CYBERARK SFTWARE P/P 144A 00.0000 11/15/2024 | 0.42% |
| TELADOC INC CV 01.3750 05/15/2025 | 0.42% |
| ROYAL CARIBBE P/P 144A CV 04.2500 06/15/2023 | 0.42% |
| CHANGE HEALTHCARE INC 06.0000 CV PFD | 0.41% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.41% |
| INTEGRA LIFE P/P 144A CV 00.5000 08/15/2025 | 0.40% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.40% |
| CALLAWAY GOLF P/P 144A CV 02.7500 05/01/2026 | 0.40% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.36% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.33% |
| LUMENTUM HOLD P/P 144A CV 00.5000 12/15/2026 | 0.32% |
| GUESS INC P/P CV 02.0000 04/15/2024 | 0.31% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.30% |
| TESLA INC CV 02.3750 03/15/2022 | 0.30% |
| CROWN CASTLE INTL CORP SEDOL BTGQCX1 | 0.25% |
| GCI LIBERTY I P/P 144A CV 01.7500 09/30/2046 | 0.25% |
| CINEMARK HOLD P/P 144A CV 04.5000 08/15/2025 | 0.25% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.23% |
| RINGCENTRAL CV 00.0000 03/15/2023 | 0.20% |
| HESS CORP SEDOL 2023748 | 0.12% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2021 | 0.02% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| LIBERTY BROAD P/P 144A CV 02.7500 09/30/2050 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
Portfolio composition as of 12/31/20
| Convertible bonds and notes | 79.50% |
|---|---|
| Mandatories | 14.82% |
| Cash and net other assets | 2.31% |
| Common stock | 1.71% |
| Convertible preferred stock | 1.66% |
Equity statistics as of 12/31/20
| Median market cap | $16.54B |
|---|---|
| Weighted average market cap | $72.05B |
| Price to book | 5.70 |
| Price to earnings | 61.76 |
Fixed income statistics as of 12/31/20
| Average stated maturity | 4.61 yrs. |
|---|---|
| Average effective duration | 1.57 yrs. |
| Average coupon | 1.94% |
Maturity detail as of 12/31/20
| 0 - 1 yr. | 6.23% |
|---|---|
| 1 - 5 yrs. | 69.35% |
| 5 - 10 yrs. | 21.89% |
| Over 15 yrs. | 2.53% |
Quality rating as of 12/31/20
| A | 0.92% |
|---|---|
| BBB | 9.52% |
| BB | 6.57% |
| B | 1.31% |
| CCC and Below | 1.41% |
| Not Rated | 77.96% |
| Cash and net other assets | 2.31% |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: Convertible securities prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. These risks are generally greater for convertible securities issued by small and/or midsize companies. Convertible securities' prices may be adversely affected by underlying common stock price changes. While convertible securities tend to provide higher yields than common stocks, the higher yield may not protect against the risk of loss or mitigate any loss associated with a convertible security's price decline. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund's investments may default on payment of interest or principal. Credit risk is generally greater for below- investment-grade convertible securities. Convertible securities may be less sensitive to interest-rate changes than non-convertible bonds because of their structural features (e.g., convertibility, "put" features). Interest-rate risk is generally greater, however, for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund's other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Credit qualities are shown as a percentage of the fund’s net assets. A bond rated BBB or higher (A-3/SP-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 may vary over time. Equity securities are shown in the not-rated category. Cash and net other assets, if any, represent the market value weights of cash and derivatives and may show a negative market value as a result of the timing of trade versus settlement date transactions. The fund itself has not been rated by an independent rating agency.
Top industry sectors as of 12/31/20
| Information technology | 32.95% |
|---|---|
| Consumer discretionary | 21.91% |
| Health care | 16.13% |
| Communication services | 11.94% |
| Industrials | 5.51% |
| Utilities | 4.45% |
| Cash and net other assets | 2.31% |
| Financials | 2.10% |
| Real estate | 1.66% |
| Other | 1.04% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Country allocation as of 12/31/20
| United States | 94.10% |
|---|---|
| Cash and net other assets | 2.31% |
| Israel | 1.76% |
| Jersey | 0.66% |
| Canada | 0.62% |
| Thailand | 0.51% |
| China | 0.04% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| Total expense ratio | 1.05% | 1.80% | 1.80% | 1.30% | 0.72% | 0.80% |
| What you pay | 1.05% | 1.80% | 1.80% | 1.30% | 0.72% | 0.80% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R6 | Class Y | |
|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
| 7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
The ICE BofA U.S. Convertible Index tracks the performance of publicly issued U.S. dollar denominated convertible securities of U.S. companies. You cannot invest directly in an index.
Consider these risks before investing: Convertible securities prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. These risks are generally greater for convertible securities issued by small and/or midsize companies. Convertible securities' prices may be adversely affected by underlying common stock price changes. While convertible securities tend to provide higher yields than common stocks, the higher yield may not protect against the risk of loss or mitigate any loss associated with a convertible security's price decline. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund's investments may default on payment of interest or principal. Credit risk is generally greater for below- investment-grade convertible securities. Convertible securities may be less sensitive to interest-rate changes than non-convertible bonds because of their structural features (e.g., convertibility, "put" features). Interest-rate risk is generally greater, however, for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund's other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Credit qualities are shown as a percentage of the fund’s net assets. A bond rated BBB or higher (A-3/SP-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 may vary over time. Equity securities are shown in the not-rated category. Cash and net other assets, if any, represent the market value weights of cash and derivatives and may show a negative market value as a result of the timing of trade versus settlement date transactions. The fund itself has not been rated by an independent rating agency.