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. The "before sales charge" performance does not reflect the current maximum sales charges, which we explain below. If performance did reflect the charges, it would be lower. The "after sales charge" performance (or returns at public offering price) varies by share class and fund. For class A and class M shares, the current maximum initial sales charges are 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds, respectively (with these exceptions: 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). Class B share performance reflects the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, and Putnam Fixed Income Absolute Return Fund; for these funds, the CDSC is 1% in the first year, declines to 0.5% in the second year, and is eliminated thereafter). Class C share performance reflects 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 by adjusting for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (note, for two funds — Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund performance prior to inception is 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 has been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. The "after sales charge" performance (at public offering price) for class N shares reflects the current maximum initial sales charge of 1.50%. Class R, R3, R4, R5, and R6 shares, which are 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 R3 and R4 shares prior to their inception is derived from the historical performance of class Y shares by adjusting for the higher operating expenses for such shares. Performance for class R5 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower expenses; had it been adjusted, performance would be higher (with the exception of the RetirementReady Maturity, 2025, 2030, 2035, and 2040 Funds, for which performance is derived from the historical performance of class R6 shares and has been adjusted for the higher operating expenses for such shares; and the RetirementReady 2045, 2050, 2055, and 2060 Funds, for which performance is derived from the historical performance of class R6 shares and has not been adjusted for the lower expenses; had it been adjusted, performance would be higher). Performance for class R6 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses. Had these limits not been in place, performance 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 offers diversification potential for investor portfolios: Convertible securities may provide more attractive risk-adjusted returns than stocks and have near zero correlation with 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 |
$24.78
-0.64% | $-0.16 |
$35.71
02/12/21 |
$24.78
01/19/22 |
Fund facts as of 12/31/21
$961.66M
78%
Quarterly
140
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) |
How could the yield curve impact risk assets in 2022?
The Fed's policy changes will have implications for the U.S. Treasury market and other financial assets.The Fed’s conundrum — $7 lattes, $5 gas, 0% interest rates
We believe the Fed is likely behind the curve in containing inflation with ultra-low interest rates.$100 oil may be a pipe dream
Oil prices have risen to multi-year highs on surging demand, tight supply, and the crunch on natural gas. We believe it is time to question the current rally.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)
10.63%
Average 5-year annualized return
Total return (%) as of 12/31/21
Annual performance as of 12/31/21
Annualized Total return (%) as of 12/31/21
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 4.28% | 23.62% | 16.11% | 12.62% |
| After sales charge | N/A | N/A | N/A | N/A |
| ICE BofA U.S. Convertible Index | 6.34% | 24.18% | 16.87% | 13.89% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 12/31/21 | 0.34% | - | |
| YTD as of 01/19/22 | -6.38% | - | |
Yield
| Distribution rate before sales charge as of 01/19/22 |
0.86% |
|---|---|
| Distribution rate after sales charge as of 01/19/22 |
0.86% |
| 30-day SEC yield as of 12/31/21 | 0.59% |
Risk-adjusted performance as of 12/31/21
| Alpha (3 yrs.) | 1.21 |
|---|---|
| Sharpe ratio (3 yrs.) | 1.48 |
| Treynor ratio (3 yrs.) | 24.60 |
| Information ratio (3 yrs.) | -0.19 |
Volatility as of 12/31/21
| Standard deviation (3 yrs.) | 15.32% |
|---|---|
| Beta | 0.92 |
| R-squared | 0.97 |
Fixed income statistics as of 12/31/21
| Average effective duration | 1.62 yrs. |
|---|
Capture ratio as of 12/31/21
| Up-market (3 yrs.) | 96.88 |
|---|---|
| Down-market (3 yrs.) | 95.62 |
Lipper rankings as of 12/31/21
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 36/77 | 47% |
| 3 yrs. | 39/73 | 53% |
| 5 yrs. | 37/70 | 53% |
| 10 yrs. | 23/54 | 42% |
Morningstar Ratings™ as of 12/31/21
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 73 | |
| 3 yrs. | 73 | |
| 5 yrs. | 70 | |
| 10 yrs. | 54 |
Distributions
| Record/Ex dividend date | 12/08/21 |
|---|---|
| Payable date | 12/10/21 |
| Income | $0.053 |
| Extra income | -- |
| Short-term cap. gain | $1.782 |
| Long-term cap. gain | $5.241 |
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
| Broadcom | 2.87% |
|---|---|
| Nextera Energy | 2.64% |
| Palo Alto Networks | 2.45% |
| Danaher Corp | 2.33% |
| Liberty Media Corp | 1.80% |
| Block | 1.66% |
| Ford Motor | 1.53% |
| Bank Of America Corp | 1.41% |
| Pioneer Natural Resources | 1.39% |
| Southwest Airlines | 1.36% |
| Top 10 holdings, percent of portfolio | 19.44% |
| Top 10 holdings as of 12/31/21 | |
|---|---|
| Broadcom | |
| Nextera Energy | |
| Palo Alto Networks | |
| Danaher Corp | |
| Liberty Media Corp | |
| Block | |
| Ford Motor | |
| Bank Of America Corp | |
| Pioneer Natural Resources | |
| Southwest Airlines | |
| Holdings represent 19.44% of portfolio | |
| Top 10 holdings as of 11/30/21 | |
|---|---|
| Nextera Energy | |
| Palo Alto Networks | |
| Broadcom | |
| Danaher Corp | |
| Square | |
| Liberty Media Corp | |
| Southwest Airlines | |
| Cloudflare | |
| Pioneer Natural Resources | |
| Ford Motor | |
| Holdings represent 18.54% of portfolio | |
| Top 10 holdings as of 10/31/21 | |
|---|---|
| Palo Alto Networks | |
| Nextera Energy | |
| Square | |
| Danaher Corp | |
| Broadcom | |
| Liberty Media Corp | |
| Snap | |
| Southwest Airlines | |
| Cloudflare | |
| Pioneer Natural Resources | |
| Holdings represent 18.46% of portfolio | |
| Top 10 holdings as of 09/30/21 | |
|---|---|
| Palo Alto Networks | |
| Danaher Corp | |
| Nextera Energy | |
| Square | |
| Broadcom | |
| Snap | |
| Liberty Media Corp | |
| Southwest Airlines | |
| Bank Of America Corp | |
| Pioneer Natural Resources | |
| Holdings represent 18.25% of portfolio | |
| BROADCOM INC 08.0000 CV PFD | 2.87% |
|---|---|
| NEXTERA ENERGY INC 04.8720 CV PFD | 2.64% |
| PALO ALTO NET CV 00.3750 06/01/2025 | 2.45% |
| DANAHER CORP 05.0000 CV PFD | 2.33% |
| FORD MOTOR CO P/P 144A CV 00.0000 03/15/2026 | 1.53% |
| PIONEER NAT CV 00.2500 05/15/2025 | 1.38% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.36% |
| CLOUDFLARE P/P 144A CV 00.0000 08/15/2026 | 1.27% |
| DEXCOM INC CV 00.2500 11/15/2025 | 1.27% |
| OKTA INC CV 00.3750 06/15/2026 | 1.23% |
| ON SEMICONDUC P/P 144A CV 00.0000 05/01/2027 | 1.11% |
| KKR & CO INC 06.0000 CUM CV PFD | 1.11% |
| ETSY INC P/P 144A CV 00.2500 06/15/2028 | 1.08% |
| ROYAL CARIBBE CV 02.8750 11/15/2023 | 1.08% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 1.06% |
| BUNGE LTD 04.8750 CUM CV PFD | 1.00% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.99% |
| BOOKING HLDS CV 00.7500 05/01/2025 | 0.98% |
| BURL STORE CV 02.2500 04/15/2025 | 0.95% |
| TWITTER INC P/P 144A CV 00.0000 03/15/2026 | 0.93% |
| ZSCALER INC. CV 00.1250 07/01/2025 | 0.93% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.91% |
| MIDDLEBY CORP CV 01.0000 09/01/2025 | 0.89% |
| BLOCK INC CV 00.2500 11/01/2027 | 0.87% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.86% |
| DRAFTKINGS P/P 144A CV 00.0000 03/15/2028 | 0.84% |
| AIRBNB INC P/P 144A CV 00.0000 03/15/2026 | 0.83% |
| COUPA SOFTWAR CV 00.3750 06/15/2026 | 0.82% |
| DTE ENERGY CO 06.2500 CV PFD | 0.81% |
| WAYFAIR INC CV 00.6250 10/01/2025 | 0.80% |
| BLOCK INC CV 00.1250 03/01/2025 | 0.79% |
| AES CORP/THE 06.8750 CV PFD | 0.79% |
| SNAP INC P/P 144A CV 00.0000 05/01/2027 | 0.79% |
| EXACT SCIENCES CORP CV 00.3750 03/01/2028 | 0.78% |
| CHEESECAKE FACTR CV 00.3750 06/15/2026 | 0.78% |
| LUMENTUM HOLD CV 00.5000 12/15/2026 | 0.78% |
| SHIFT4 PAYMEN P/P 144A CV 00.0000 12/15/2025 | 0.78% |
| NEOGENOMICS INC CV 00.2500 01/15/2028 | 0.77% |
| LIBERTY MEDIA | 0.76% |
| APTIV PLC 05.5000 CV PFD | 0.76% |
| VAIL RESORTS CV 00.0000 01/01/2026 | 0.75% |
| OMNICELL INC CV 00.2500 09/15/2025 | 0.74% |
| SOLAR EDGE TECH USD 00.0000 09/15/2025 | 0.74% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.74% |
| CERIDIAN HCM P/P 144A CV 00.2500 03/15/2026 | 0.74% |
| JOHN BEAN TEC P/P 144A CV 00.2500 05/15/2026 | 0.74% |
| BOX INC P/P 144A CV 00.0000 01/15/2026 | 0.74% |
| AVALARA INC P/P 144A CV 00.2500 08/01/2026 | 0.72% |
| NEXTERA ENGY P/P 144A CV 00.0000 11/15/2025 | 0.72% |
| DATADOG INC CV 00.1250 06/15/2025 | 0.72% |
| BEAUTY HEALTH P/P 144A CV 01.2500 10/01/2026 | 0.72% |
| BENTLEY SYS P/P 144A CV 00.3750 07/01/2027 | 0.72% |
| RBC BEARINGS INC 05.0000 CV PFD | 0.71% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 0.70% |
| JETBLUE AIR P/P 144A CV 00.5000 04/01/2026 | 0.70% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.70% |
| ZENDESK INC CV 00.6250 06/15/2025 | 0.70% |
| IMAX CORP P/P 144A 00.5000 04/01/2026 | 0.70% |
| UNITY SOFT P/P 144A CV 00.0000 11/15/2026 | 0.69% |
| PG&E CORP 05.5000 CV PFD | 0.69% |
| EQT CORP CV 01.7500 05/01/2026 | 0.69% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.69% |
| SOFI TECH INC P/P 144A CV 00.0000 10/15/2026 | 0.68% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.68% |
| HUBSPOT INC CV 00.3750 06/01/2025 | 0.67% |
| PACIRA PHARMA CV 00.7500 08/01/2025 | 0.67% |
| GUARDANT HEAL CV 00.0000 11/15/2027 | 0.67% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.67% |
| BILL.COM CV 00.0000 12/01/2025 | 0.66% |
| SHAKE SHACK I P/P 144A CV 00.0000 03/01/2028 | 0.65% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.63% |
| CYBERARK SFTWARE USD 00.0000 11/15/2024 | 0.63% |
| BILL.COM P/P 144A CV 00.0000 04/01/2027 | 0.62% |
| RH CV 00.0000 09/15/2024 | 0.62% |
| SPLUNK INC CV 01.1250 06/15/2027 | 0.62% |
| BIGCOMMERCE H P/P 144A CV 00.2500 10/01/2026 | 0.61% |
| DICK'S SPORT CV 03.2500 04/15/2025 | 0.60% |
| IMPINJ INC P/P 144A CV 01.1250 05/15/2027 | 0.60% |
| BROOKDALE SEN P/P 144A CV 02.0000 10/15/2026 | 0.59% |
| CLARIVATE PLC 05.2500 CV PFD | 0.58% |
| 2020 MANDATORY EXCH P/P 144A 06.5000 CV PFD | 0.57% |
| TESLA INC SEDOL B616C79 | 0.57% |
| CHEGG INC CV 00.0000 09/01/2026 | 0.57% |
| WINNEBAGO IND CV 01.5000 04/01/2025 | 0.56% |
| SERVICENOW INC SEDOL B80NXX8 | 0.56% |
| INNOVIVA INC CV 02.5000 08/15/2025 | 0.56% |
| TECHTARGET P/P 144A CV 00.0000 12/15/2026 | 0.56% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.55% |
| ENVISTA HLDGS CV 02.3750 06/01/2025 | 0.55% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 0.55% |
| NCL CORP LTD P/P 144A CV 01.1250 02/15/2027 | 0.55% |
| NATIONAL VIS CV 02.5000 05/15/2025 | 0.55% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.54% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.54% |
| SUNRUN INC P/P 144A CV 00.0000 02/01/2026 | 0.54% |
| TELADOC HE CV 01.2500 06/01/2027 | 0.53% |
| ENPHASE EN P/P 144A CV 00.0000 03/01/2028 | 0.52% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.52% |
| DISH NETWORK CV 03.3750 08/15/2026 | 0.52% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.52% |
| NATERA INC CV 02.2500 05/01/2027 | 0.52% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.52% |
| 3D SYS CORP P/P 144A CV 00.0000 11/15/2026 | 0.51% |
| PERFICIENT IN P/P 144A CV 00.1250 11/15/2026 | 0.51% |
| CABLE ONE INC P/P 144A CV 01.1250 03/15/2028 | 0.51% |
| RINGCENTRAL CV 00.0000 03/01/2025 | 0.50% |
| HALOZYME THER P/P 144A CV 00.2500 03/01/2027 | 0.50% |
| SEA LTD USD 00.2500 09/15/2026 | 0.50% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.49% |
| SABRE CORP 06.5000 CV PFD | 0.48% |
| EVERBRIDGE IN P/P 144A CV 00.0000 03/15/2026 | 0.48% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.48% |
| UBER TECH INC CV 00.0000 12/15/2025 | 0.47% |
| DISH NETWORK CV 00.0000 12/15/2025 | 0.46% |
| FIVERR INTL LTD USD 00.0000 11/01/2025 | 0.46% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.45% |
| LYFT INC CV 01.5000 05/15/2025 | 0.42% |
| SNAP INC CV 00.7500 08/01/2026 | 0.41% |
| AMERICAN CV 03.7500 04/15/2025 | 0.41% |
| LIBERTY BROAD P/P 144A CV 01.2500 09/30/2050 | 0.40% |
| MICROCHIP TECHNOLOGY INC SEDOL 2592174 | 0.40% |
| INSMED INC CV 00.7500 06/01/2028 | 0.38% |
| FIVE9 INC CV 00.5000 06/01/2025 | 0.36% |
| EXPEDIA GRP P/P 144A CV 00.0000 02/15/2026 | 0.31% |
| FUBOTV INC P/P 144A CV 03.2500 02/15/2026 | 0.30% |
| CONFLUENT INC P/P 144A CV 00.0000 01/15/2027 | 0.30% |
| NCL CORP LTD CV 05.3750 08/01/2025 | 0.30% |
| NOVOCURE LTD USD 00.0000 11/01/2025 | 0.30% |
| PATRICK INDUS P/P 144A CV 01.7500 12/01/2028 | 0.29% |
| MICROSTRATEGY P/P 144A CV 00.0000 02/15/2027 | 0.29% |
| SAILPOINT TCH CV 00.1250 09/15/2024 | 0.28% |
| AFFRIM HOLDIN P/P 144A CV 00.0000 11/15/2026 | 0.27% |
| PENN NATIONAL GAMING INC SEDOL 2682105 | 0.24% |
| DIGITALOCEAN P/P 144A CV 00.0000 12/01/2026 | 0.20% |
| UPSTART HOLDI P/P 144A CV 00.2500 08/15/2026 | 0.19% |
| CHINA MED TECH P/P 144A 06.2500 12/16/2022 | 0.02% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2022 | 0.02% |
| ESC GT ADVANCED TECH INC | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 2.34% |
|---|---|
| PALO ALTO NET CV 00.3750 06/01/2025 | 2.29% |
| BROADCOM INC 08.0000 CV PFD | 2.29% |
| DANAHER CORP 05.0000 CV PFD | 2.17% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.42% |
| CLOUDFLARE P/P 144A CV 00.0000 08/15/2026 | 1.40% |
| PIONEER NAT CV 00.2500 05/15/2025 | 1.38% |
| FORD MOTOR CO P/P 144A CV 00.0000 03/15/2026 | 1.37% |
| SQUARE INC CV 00.2500 11/01/2027 | 1.25% |
| DEXCOM INC CV 00.2500 11/15/2025 | 1.23% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 1.16% |
| ETSY INC P/P 144A CV 00.2500 06/15/2028 | 1.16% |
| OKTA INC CV 00.3750 06/15/2026 | 1.14% |
| ZSCALER INC. CV 00.1250 07/01/2025 | 1.06% |
| KKR & CO INC 06.0000 CUM CV PFD | 1.05% |
| ON SEMICONDUC P/P 144A CV 00.0000 05/01/2027 | 1.00% |
| EXACT SCIENCES CORP CV 00.3750 03/01/2028 | 0.99% |
| ROYAL CARIBBE CV 02.8750 11/15/2023 | 0.98% |
| COUPA SOFTWAR CV 00.3750 06/15/2026 | 0.97% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.96% |
| APTIV PLC 05.5000 CV PFD | 0.94% |
| JOHN BEAN TEC P/P 144A CV 00.2500 05/15/2026 | 0.92% |
| BUNGE LTD 04.8750 CUM CV PFD | 0.92% |
| BURL STORE CV 02.2500 04/15/2025 | 0.91% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.88% |
| TWITTER INC P/P 144A CV 00.0000 03/15/2026 | 0.88% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 0.87% |
| BOOKING HLDS CV 00.7500 05/01/2025 | 0.86% |
| UBER TECH INC P/P 144A CV 00.0000 12/15/2025 | 0.85% |
| SNAP INC P/P 144A CV 00.0000 05/01/2027 | 0.84% |
| VAIL RESORTS P/P 144A CV 00.0000 01/01/2026 | 0.83% |
| DRAFTKINGS P/P 144A CV 00.0000 03/15/2028 | 0.82% |
| WAYFAIR INC CV 00.6250 10/01/2025 | 0.82% |
| TECHTARGET P/P 144A CV 00.1250 12/15/2025 | 0.80% |
| AIRBNB INC P/P 144A CV 00.0000 03/15/2026 | 0.80% |
| DATADOG INC CV 00.1250 06/15/2025 | 0.80% |
| OMNICELL INC CV 00.2500 09/15/2025 | 0.79% |
| SQUARE INC CV 00.1250 03/01/2025 | 0.78% |
| HUBSPOT INC CV 00.3750 06/01/2025 | 0.78% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.77% |
| MIDDLEBY CORP CV 01.0000 09/01/2025 | 0.76% |
| NEOGENOMICS INC CV 00.2500 01/15/2028 | 0.76% |
| SOLAR EDGE TECH USD 00.0000 09/15/2025 | 0.76% |
| SEA LTD USD 00.2500 09/15/2026 | 0.76% |
| AES CORP/THE 06.8750 CV PFD | 0.74% |
| CHEESECAKE FACTR CV 00.3750 06/15/2026 | 0.74% |
| DTE ENERGY CO 06.2500 CV PFD | 0.73% |
| CERIDIAN HCM P/P 144A CV 00.2500 03/15/2026 | 0.72% |
| BEAUTY HEALTH P/P 144A CV 01.2500 10/01/2026 | 0.71% |
| AVALARA INC P/P 144A CV 00.2500 08/01/2026 | 0.71% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.70% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.70% |
| SOFI TECH INC P/P 144A CV 00.0000 10/15/2026 | 0.70% |
| SHIFT4 PAYMEN P/P 144A CV 00.0000 12/15/2025 | 0.70% |
| LIBERTY BROAD P/P 144A CV 01.2500 09/30/2050 | 0.69% |
| UNITY SOFT P/P 144A CV 00.0000 11/15/2026 | 0.69% |
| NEXTERA ENGY P/P 144A CV 00.0000 11/15/2025 | 0.69% |
| BILL.COM P/P 144A CV 00.0000 12/01/2025 | 0.68% |
| BENTLEY SYS P/P 144A CV 00.3750 07/01/2027 | 0.68% |
| RBC BEARINGS INC 05.0000 CV PFD | 0.68% |
| JETBLUE AIR P/P 144A CV 00.5000 04/01/2026 | 0.67% |
| SERVICENOW INC SEDOL B80NXX8 | 0.67% |
| LIBERTY MEDIA | 0.67% |
| CABLE ONE INC P/P 144A CV 01.1250 03/15/2028 | 0.66% |
| LUMENTUM HOLD CV 00.5000 12/15/2026 | 0.66% |
| GUARDANT HEAL CV 00.0000 11/15/2027 | 0.66% |
| BOX INC P/P 144A CV 00.0000 01/15/2026 | 0.66% |
| IMAX CORP P/P 144A 00.5000 04/01/2026 | 0.65% |
| ZENDESK INC CV 00.6250 06/15/2025 | 0.65% |
| BIGCOMMERCE H P/P 144A CV 00.2500 10/01/2026 | 0.65% |
| PG&E CORP 05.5000 CV PFD | 0.65% |
| RH CV 00.0000 09/15/2024 | 0.64% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 0.64% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.64% |
| EXPEDIA GRP P/P 144A CV 00.0000 02/15/2026 | 0.63% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.62% |
| BILL.COM P/P 144A CV 00.0000 04/01/2027 | 0.62% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.62% |
| 2020 MANDATORY EXCH P/P 144A 06.5000 CV PFD | 0.62% |
| RINGCENTRAL CV 00.0000 03/01/2025 | 0.62% |
| SHAKE SHACK I P/P 144A CV 00.0000 03/01/2028 | 0.62% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.61% |
| BROOKDALE SEN P/P 144A CV 02.0000 10/15/2026 | 0.61% |
| PACIRA PHARMA CV 00.7500 08/01/2025 | 0.60% |
| EQT CORP CV 01.7500 05/01/2026 | 0.60% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.60% |
| SPLUNK INC CV 01.1250 06/15/2027 | 0.60% |
| CYBERARK SFTWARE USD 00.0000 11/15/2024 | 0.60% |
| TESLA INC SEDOL B616C79 | 0.59% |
| DICK'S SPORT CV 03.2500 04/15/2025 | 0.59% |
| SUNRUN INC P/P 144A CV 00.0000 02/01/2026 | 0.57% |
| ENPHASE EN P/P 144A CV 00.0000 03/01/2028 | 0.56% |
| CLARIVATE PLC 05.2500 CV PFD | 0.55% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.55% |
| ENVISTA HLDGS CV 02.3750 06/01/2025 | 0.55% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.54% |
| WINNEBAGO IND CV 01.5000 04/01/2025 | 0.53% |
| CHEGG INC CV 00.0000 09/01/2026 | 0.53% |
| AFFRIM HOLDIN P/P 144A CV 00.0000 11/15/2026 | 0.53% |
| INNOVIVA INC CV 02.5000 08/15/2025 | 0.52% |
| NATIONAL VIS CV 02.5000 05/15/2025 | 0.52% |
| SNAP INC CV 00.7500 08/01/2026 | 0.52% |
| IMPINJ INC P/P 144A CV 01.1250 05/15/2027 | 0.52% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.52% |
| EVERBRIDGE IN P/P 144A CV 00.0000 03/15/2026 | 0.51% |
| NCL CORP LTD P/P 144A CV 01.1250 02/15/2027 | 0.51% |
| 3D SYS CORP P/P 144A CV 00.0000 11/15/2026 | 0.50% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.50% |
| TELADOC HE CV 01.2500 06/01/2027 | 0.50% |
| PERFICIENT IN P/P 144A CV 00.1250 11/15/2026 | 0.50% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.50% |
| NATERA INC CV 02.2500 05/01/2027 | 0.48% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 0.48% |
| DISH NETWORK CV 03.3750 08/15/2026 | 0.48% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.47% |
| FIVERR INTL LTD USD 00.0000 11/01/2025 | 0.47% |
| HALOZYME THER P/P 144A CV 00.2500 03/01/2027 | 0.45% |
| DISH NETWORK P/P 144A CV 00.0000 12/15/2025 | 0.42% |
| DOCUSIGN INC P/P 144A CV 00.0000 01/15/2024 | 0.41% |
| SABRE CORP 06.5000 CV PFD | 0.41% |
| NOVOCURE LTD USD 00.0000 11/01/2025 | 0.41% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.40% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.40% |
| AMERICAN CV 03.7500 04/15/2025 | 0.40% |
| LYFT INC CV 01.5000 05/15/2025 | 0.38% |
| INSMED INC CV 00.7500 06/01/2028 | 0.36% |
| INTEGRA LIFE CV 00.5000 08/15/2025 | 0.35% |
| FIVE9 INC CV 00.5000 06/01/2025 | 0.35% |
| ZYNGA INC P/P 144A CV 00.0000 12/15/2026 | 0.34% |
| FUBOTV INC P/P 144A CV 03.2500 02/15/2026 | 0.31% |
| MICROSTRATEGY P/P 144A CV 00.0000 02/15/2027 | 0.30% |
| SAILPOINT TCH CV 00.1250 09/15/2024 | 0.28% |
| NCL CORP LTD CV 05.3750 08/01/2025 | 0.27% |
| PENN NATIONAL GAMING INC SEDOL 2682105 | 0.23% |
| DIGITALOCEAN P/P 144A CV 00.0000 12/01/2026 | 0.21% |
| UPSTART HOLDI P/P 144A CV 00.2500 08/15/2026 | 0.20% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2022 | 0.02% |
| ESC GT ADVANCED TECH INC | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| PALO ALTO NET CV 00.3750 06/01/2025 | 2.32% |
|---|---|
| NEXTERA ENERGY INC 04.8720 CV PFD | 2.24% |
| DANAHER CORP 05.0000 CV PFD | 2.14% |
| BROADCOM INC 08.0000 CV PFD | 2.12% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.44% |
| CLOUDFLARE P/P 144A CV 00.0000 08/15/2026 | 1.38% |
| PIONEER NAT CV 00.2500 05/15/2025 | 1.36% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 1.31% |
| SQUARE INC P/P 144A CV 00.2500 11/01/2027 | 1.30% |
| DEXCOM INC CV 00.2500 11/15/2025 | 1.25% |
| FORD MOTOR CO P/P 144A CV 00.0000 03/15/2026 | 1.21% |
| OKTA INC CV 00.3750 06/15/2026 | 1.19% |
| KKR & CO INC 06.0000 CUM CV PFD | 1.09% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 1.08% |
| ETSY INC P/P 144A CV 00.2500 06/15/2028 | 1.08% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 1.06% |
| ROYAL CARIBBE P/P 144A CV 02.8750 11/15/2023 | 1.05% |
| EXACT SCIENCES CORP CV 00.3750 03/01/2028 | 1.02% |
| COUPA SOFTWAR CV 00.3750 06/15/2026 | 1.01% |
| APTIV PLC 05.5000 CV PFD | 0.98% |
| SNAP INC P/P 144A CV 00.0000 05/01/2027 | 0.97% |
| TESLA INC. CV 02.0000 05/15/2024 | 0.94% |
| ZSCALER INC. CV 00.1250 07/01/2025 | 0.94% |
| BUNGE LTD 04.8750 CUM CV PFD | 0.92% |
| BOOKING HLDS CV 00.7500 05/01/2025 | 0.91% |
| SQUARE INC CV 00.1250 03/01/2025 | 0.90% |
| WAYFAIR INC CV 00.6250 10/01/2025 | 0.90% |
| DRAFTKINGS P/P 144A CV 00.0000 03/15/2028 | 0.89% |
| RINGCENTRAL CV 00.0000 03/01/2025 | 0.89% |
| AIRBNB INC P/P 144A CV 00.0000 03/15/2026 | 0.89% |
| TWITTER INC P/P 144A CV 00.0000 03/15/2026 | 0.87% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.87% |
| JOHN BEAN TEC P/P 144A CV 00.2500 05/15/2026 | 0.86% |
| SPLUNK INC CV 01.1250 06/15/2027 | 0.85% |
| UBER TECH INC P/P 144A CV 00.0000 12/15/2025 | 0.85% |
| ON SEMICONDUC P/P 144A CV 00.0000 05/01/2027 | 0.84% |
| BURL STORE CV 02.2500 04/15/2025 | 0.84% |
| NEOGENOMICS INC CV 00.2500 01/15/2028 | 0.84% |
| VAIL RESORTS P/P 144A CV 00.0000 01/01/2026 | 0.82% |
| SOLAR EDGE TECH USD 00.0000 09/15/2025 | 0.79% |
| SEA LTD USD 00.2500 09/15/2026 | 0.78% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.77% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 0.77% |
| TECHTARGET P/P 144A CV 00.1250 12/15/2025 | 0.77% |
| MIDDLEBY CORP CV 01.0000 09/01/2025 | 0.77% |
| AES CORP/THE 06.8750 CV PFD | 0.76% |
| OMNICELL INC CV 00.2500 09/15/2025 | 0.76% |
| AVALARA INC P/P 144A CV 00.2500 08/01/2026 | 0.75% |
| HUBSPOT INC CV 00.3750 06/01/2025 | 0.75% |
| CERIDIAN HCM P/P 144A CV 00.2500 03/15/2026 | 0.74% |
| RBC BEARINGS INC 05.0000 CV PFD | 0.74% |
| SHIFT4 PAYMEN P/P 144A CV 00.0000 12/15/2025 | 0.74% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.73% |
| DTE ENERGY CO 06.2500 CV PFD | 0.73% |
| CHEESECAKE FACTR CV 00.3750 06/15/2026 | 0.72% |
| DATADOG INC CV 00.1250 06/15/2025 | 0.72% |
| BENTLEY SYS P/P 144A CV 00.3750 07/01/2027 | 0.72% |
| TELADOC HE CV 01.2500 06/01/2027 | 0.71% |
| SOFI TECH INC P/P 144A CV 00.0000 10/15/2026 | 0.70% |
| BEAUTY HEALTH P/P 144A CV 01.2500 10/01/2026 | 0.70% |
| RH CV 00.0000 09/15/2024 | 0.70% |
| SERVICENOW INC SEDOL B80NXX8 | 0.70% |
| BILL.COM P/P 144A CV 00.0000 12/01/2025 | 0.68% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.68% |
| GUARDANT HEAL P/P 144A CV 00.0000 11/15/2027 | 0.67% |
| NEXTERA ENGY P/P 144A CV 00.0000 11/15/2025 | 0.67% |
| LIBERTY BROAD P/P 144A CV 01.2500 09/30/2050 | 0.67% |
| BOX INC P/P 144A CV 00.0000 01/15/2026 | 0.67% |
| 2020 MANDATORY EXCH P/P 144A 06.5000 CV PFD | 0.67% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.66% |
| JETBLUE AIR P/P 144A CV 00.5000 04/01/2026 | 0.66% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.66% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.66% |
| IMAX CORP P/P 144A 00.5000 04/01/2026 | 0.66% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 0.65% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.64% |
| ZENDESK INC CV 00.6250 06/15/2025 | 0.63% |
| CABLE ONE INC P/P 144A CV 01.1250 03/15/2028 | 0.63% |
| NCL CORP LTD CV 05.3750 08/01/2025 | 0.63% |
| BIGCOMMERCE H P/P 144A CV 00.2500 10/01/2026 | 0.63% |
| LUMENTUM HOLD CV 00.5000 12/15/2026 | 0.63% |
| LIBERTY MEDIA | 0.62% |
| PG&E CORP 05.5000 CV PFD | 0.62% |
| NATIONAL VIS CV 02.5000 05/15/2025 | 0.62% |
| EXPEDIA GRP P/P 144A CV 00.0000 02/15/2026 | 0.62% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.61% |
| DICK'S SPORT CV 03.2500 04/15/2025 | 0.60% |
| BILL.COM P/P 144A CV 00.0000 04/01/2027 | 0.60% |
| EQT CORP CV 01.7500 05/01/2026 | 0.60% |
| SHAKE SHACK I P/P 144A CV 00.0000 03/01/2028 | 0.59% |
| CYBERARK SFTWARE USD 00.0000 11/15/2024 | 0.59% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.59% |
| CHEGG INC CV 00.0000 09/01/2026 | 0.59% |
| PACIRA PHARMA CV 00.7500 08/01/2025 | 0.58% |
| SUNRUN INC P/P 144A CV 00.0000 02/01/2026 | 0.58% |
| EVERBRIDGE IN P/P 144A CV 00.0000 03/15/2026 | 0.58% |
| NATERA INC CV 02.2500 05/01/2027 | 0.57% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.56% |
| SNAP INC CV 00.7500 08/01/2026 | 0.55% |
| CLARIVATE PLC 05.2500 CV PFD | 0.54% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.53% |
| ENVISTA HLDGS CV 02.3750 06/01/2025 | 0.53% |
| DOCUSIGN INC P/P 144A CV 00.0000 01/15/2024 | 0.52% |
| ENPHASE EN P/P 144A CV 00.0000 03/01/2028 | 0.52% |
| INNOVIVA INC CV 02.5000 08/15/2025 | 0.52% |
| SABRE CORP 06.5000 CV PFD | 0.52% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.52% |
| DISH NETWORK CV 03.3750 08/15/2026 | 0.51% |
| WINNEBAGO IND CV 01.5000 04/01/2025 | 0.50% |
| FIVERR INTL LTD USD 00.0000 11/01/2025 | 0.49% |
| INTEGRA LIFE CV 00.5000 08/15/2025 | 0.49% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.48% |
| DISH NETWORK P/P 144A CV 00.0000 12/15/2025 | 0.48% |
| ZYNGA INC P/P 144A CV 00.0000 12/15/2026 | 0.47% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.46% |
| HALOZYME THER P/P 144A CV 00.2500 03/01/2027 | 0.45% |
| FUBOTV INC P/P 144A CV 03.2500 02/15/2026 | 0.44% |
| NOVOCURE LTD P/P 144A 00.0000 11/01/2025 | 0.41% |
| LYFT INC CV 01.5000 05/15/2025 | 0.40% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.39% |
| SAILPOINT TCH CV 00.1250 09/15/2024 | 0.38% |
| INSMED INC CV 00.7500 06/01/2028 | 0.37% |
| FIVE9 INC CV 00.5000 06/01/2025 | 0.36% |
| AMERICAN CV 03.7500 04/15/2025 | 0.35% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.34% |
| BROOKDALE SEN P/P 144A CV 02.0000 10/15/2026 | 0.34% |
| PENN NATIONAL GAMING INC SEDOL 2682105 | 0.31% |
| MICROSTRATEGY P/P 144A CV 00.0000 02/15/2027 | 0.30% |
| REDFIN CORP CV 00.0000 10/15/2025 | 0.30% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2022 | 0.02% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| PALO ALTO NET CV 00.3750 06/01/2025 | 2.24% |
|---|---|
| DANAHER CORP 05.0000 CV PFD | 2.14% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 2.13% |
| BROADCOM INC 08.0000 CV PFD | 1.99% |
| SOUTHWEST AIRLINES CO CV 01.2500 05/01/2025 | 1.56% |
| PIONEER NAT CV 00.2500 05/15/2025 | 1.27% |
| ZILLOW GROUP INC CV 02.7500 05/15/2025 | 1.20% |
| OKTA INC CV 00.3750 06/15/2026 | 1.19% |
| RINGCENTRAL CV 00.0000 03/01/2025 | 1.13% |
| FORD MOTOR CO P/P 144A CV 00.0000 03/15/2026 | 1.13% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 1.12% |
| SNAP INC P/P 144A CV 00.0000 05/01/2027 | 1.12% |
| SQUARE INC P/P 144A CV 00.2500 11/01/2027 | 1.12% |
| ROYAL CARIBBE P/P 144A CV 02.8750 11/15/2023 | 1.12% |
| AKAMAI TECH CV 00.3750 09/01/2027 | 1.10% |
| CLOUDFLARE P/P 144A CV 00.0000 08/15/2026 | 1.10% |
| DEXCOM INC CV 00.2500 11/15/2025 | 1.06% |
| EXACT SCIENCES CORP CV 00.3750 03/01/2028 | 1.05% |
| COUPA SOFTWAR CV 00.3750 06/15/2026 | 1.02% |
| ETSY INC P/P 144A CV 00.2500 06/15/2028 | 0.98% |
| WAYFAIR INC CV 00.6250 10/01/2025 | 0.93% |
| BOOKING HLDS CV 00.7500 05/01/2025 | 0.92% |
| DRAFTKINGS P/P 144A CV 00.0000 03/15/2028 | 0.92% |
| AIRBNB INC P/P 144A CV 00.0000 03/15/2026 | 0.91% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.91% |
| TWITTER INC P/P 144A CV 00.0000 03/15/2026 | 0.91% |
| BUNGE LTD 04.8750 CUM CV PFD | 0.89% |
| UBER TECH INC P/P 144A CV 00.0000 12/15/2025 | 0.88% |
| KKR & CO INC 06.0000 CUM CV PFD | 0.88% |
| BURL STORE CV 02.2500 04/15/2025 | 0.88% |
| APTIV PLC 05.5000 CV PFD | 0.87% |
| SQUARE INC CV 00.1250 03/01/2025 | 0.87% |
| NEOGENOMICS INC CV 00.2500 01/15/2028 | 0.86% |
| JOHN BEAN TEC P/P 144A CV 00.2500 05/15/2026 | 0.86% |
| ON SEMICONDUC P/P 144A CV 00.0000 05/01/2027 | 0.85% |
| SHIFT4 PAYMEN P/P 144A CV 00.0000 12/15/2025 | 0.83% |
| VAIL RESORTS P/P 144A CV 00.0000 01/01/2026 | 0.82% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 0.82% |
| SPLUNK INC CV 01.1250 06/15/2027 | 0.82% |
| ZSCALER INC. CV 00.1250 07/01/2025 | 0.81% |
| CHEESECAKE FACTR CV 00.3750 06/15/2026 | 0.78% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.78% |
| SEA LTD USD 00.2500 09/15/2026 | 0.78% |
| SNAP INC CV 00.7500 08/01/2026 | 0.77% |
| AVALARA INC P/P 144A CV 00.2500 08/01/2026 | 0.75% |
| AES CORP/THE 06.8750 CV PFD | 0.75% |
| DTE ENERGY CO 06.2500 CV PFD | 0.75% |
| MIDDLEBY CORP CV 01.0000 09/01/2025 | 0.74% |
| BENTLEY SYS P/P 144A CV 00.3750 07/01/2027 | 0.74% |
| RH CV 00.0000 09/15/2024 | 0.73% |
| RBC BEARINGS INC 05.0000 CV PFD | 0.72% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 0.72% |
| TELADOC HE CV 01.2500 06/01/2027 | 0.72% |
| CERIDIAN HCM P/P 144A CV 00.2500 03/15/2026 | 0.72% |
| GUARDANT HEAL P/P 144A CV 00.0000 11/15/2027 | 0.72% |
| TECHTARGET P/P 144A CV 00.1250 12/15/2025 | 0.71% |
| BEAUTY HEALTH P/P 144A CV 01.2500 10/01/2026 | 0.70% |
| LIBERTY BROAD P/P 144A CV 01.2500 09/30/2050 | 0.70% |
| ZENDESK INC CV 00.6250 06/15/2025 | 0.70% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.70% |
| JETBLUE AIR P/P 144A CV 00.5000 04/01/2026 | 0.69% |
| IRONWOOD PHAR CV 01.5000 06/15/2026 | 0.68% |
| OMNICELL INC CV 00.2500 09/15/2025 | 0.67% |
| TESLA INC. CV 02.0000 05/15/2024 | 0.67% |
| CABLE ONE INC P/P 144A CV 01.1250 03/15/2028 | 0.67% |
| IMAX CORP P/P 144A 00.5000 04/01/2026 | 0.66% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.66% |
| NCL CORP LTD CV 05.3750 08/01/2025 | 0.66% |
| BIGCOMMERCE H P/P 144A CV 00.2500 10/01/2026 | 0.65% |
| BOSTON SCIENTIFIC CORP 05.5000 CV PFD | 0.65% |
| BOX INC P/P 144A CV 00.0000 01/15/2026 | 0.65% |
| DATADOG INC CV 00.1250 06/15/2025 | 0.65% |
| LUMENTUM HOLD CV 00.5000 12/15/2026 | 0.65% |
| BILL.COM P/P 144A CV 00.0000 12/01/2025 | 0.64% |
| HUBSPOT INC CV 00.3750 06/01/2025 | 0.64% |
| SERVICENOW INC SEDOL B80NXX8 | 0.64% |
| CHEGG INC CV 00.0000 09/01/2026 | 0.63% |
| EXPEDIA GRP P/P 144A CV 00.0000 02/15/2026 | 0.63% |
| NEXTERA ENGY P/P 144A CV 00.0000 11/15/2025 | 0.63% |
| SHAKE SHACK I P/P 144A CV 00.0000 03/01/2028 | 0.63% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 0.62% |
| 2020 MANDATORY EXCH P/P 144A 06.5000 CV PFD | 0.62% |
| TANDEM DIABET P/P 144A CV 01.5000 05/01/2025 | 0.62% |
| EQT CORP CV 01.7500 05/01/2026 | 0.62% |
| PACIRA PHARMA CV 00.7500 08/01/2025 | 0.62% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.61% |
| SABRE CORP 06.5000 CV PFD | 0.61% |
| LIBERTY MEDIA | 0.60% |
| DICK'S SPORT CV 03.2500 04/15/2025 | 0.59% |
| NATIONAL VIS CV 02.5000 05/15/2025 | 0.59% |
| SHOPIFY INC USD 00.1250 11/01/2025 | 0.58% |
| ENVISTA HLDGS CV 02.3750 06/01/2025 | 0.58% |
| EVERBRIDGE IN P/P 144A CV 00.0000 03/15/2026 | 0.57% |
| NATERA INC CV 02.2500 05/01/2027 | 0.57% |
| CYBERARK SFTWARE USD 00.0000 11/15/2024 | 0.56% |
| SUNRUN INC P/P 144A CV 00.0000 02/01/2026 | 0.55% |
| PG&E CORP 05.5000 CV PFD | 0.54% |
| DISH NETWORK CV 03.3750 08/15/2026 | 0.54% |
| INSULET CORP CV 00.3750 09/01/2026 | 0.53% |
| DOCUSIGN INC P/P 144A CV 00.0000 01/15/2024 | 0.53% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.53% |
| CLARIVATE PLC 05.2500 CV PFD | 0.53% |
| WINNEBAGO IND CV 01.5000 04/01/2025 | 0.53% |
| FIVERR INTL LTD P/P 144A 00.0000 11/01/2025 | 0.52% |
| ENVESTNET INC P/P 144A CV 00.7500 08/15/2025 | 0.52% |
| INNOVIVA INC CV 02.5000 08/15/2025 | 0.52% |
| DISH NETWORK P/P 144A CV 00.0000 12/15/2025 | 0.52% |
| INTEGRA LIFE CV 00.5000 08/15/2025 | 0.50% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.50% |
| ZYNGA INC P/P 144A CV 00.0000 12/15/2026 | 0.48% |
| BILL.COM P/P 144A CV 00.0000 04/01/2027 | 0.48% |
| HALOZYME THER P/P 144A CV 00.2500 03/01/2027 | 0.48% |
| LYFT INC CV 01.5000 05/15/2025 | 0.46% |
| ENPHASE EN P/P 144A CV 00.0000 03/01/2028 | 0.44% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.44% |
| NOVOCURE LTD P/P 144A 00.0000 11/01/2025 | 0.43% |
| FUBOTV INC P/P 144A CV 03.2500 02/15/2026 | 0.42% |
| REVANCE THERA CV 01.7500 02/15/2027 | 0.41% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.40% |
| AMERICAN CV 03.7500 04/15/2025 | 0.39% |
| FIVE9 INC CV 00.5000 06/01/2025 | 0.38% |
| NOVAVAX INC CV 03.7500 02/01/2023 | 0.36% |
| INSMED INC CV 00.7500 06/01/2028 | 0.36% |
| SAILPOINT TCH CV 00.1250 09/15/2024 | 0.35% |
| BROOKDALE SEN P/P 144A CV 02.0000 10/15/2026 | 0.34% |
| SOLAR EDGE TECH USD 00.0000 09/15/2025 | 0.33% |
| PENN NATIONAL GAMING INC SEDOL 2682105 | 0.32% |
| REDFIN CORP P/P 144A CV 00.0000 10/15/2025 | 0.30% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.28% |
| MICROSTRATEGY P/P 144A CV 00.0000 02/15/2027 | 0.28% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.25% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.15% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2022 | 0.02% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
Portfolio composition as of 12/31/21
| Convertible bonds and notes | 74.25% |
|---|---|
| Mandatories | 18.57% |
| Cash and net other assets | 3.00% |
| Common stock | 2.52% |
| Convertible preferred stock | 1.66% |
Equity statistics as of 12/31/21
| Median market cap | $12.92B |
|---|---|
| Weighted average market cap | $55.20B |
| Price to book | 4.69 |
| Price to earnings | 40.88 |
Fixed income statistics as of 12/31/21
| Average stated maturity | 4.01 yrs. |
|---|---|
| Average effective duration | 1.62 yrs. |
| Average yield to maturity | -3.76% |
| Average coupon | 1.70% |
Maturity detail as of 12/31/21
| 0 - 1 yr. | 15.86% |
|---|---|
| 1 - 5 yrs. | 66.89% |
| 5 - 10 yrs. | 15.56% |
| Over 15 yrs. | 1.69% |
Quality rating as of 12/31/21
| A | 3.62% |
|---|---|
| BBB | 6.49% |
| BB | 5.96% |
| B | 0.98% |
| Not Rated | 79.95% |
| Cash and net other assets | 3.00% |
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 12/31/21
| Information technology | 32.43% |
|---|---|
| Consumer discretionary | 17.97% |
| Health care | 16.34% |
| Communication services | 9.13% |
| Industrials | 7.26% |
| Utilities | 6.13% |
| Financials | 3.95% |
| Cash and net other assets | 3.00% |
| Energy | 2.08% |
| Other | 1.71% |
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 12/31/21
| United States | 92.43% |
|---|---|
| Cash and net other assets | 3.00% |
| Israel | 1.83% |
| Canada | 1.33% |
| United Kingdom | 0.58% |
| Singapore | 0.50% |
| Jersey | 0.29% |
| China | 0.04% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| Total expense ratio | 1.04% | 1.79% | 1.79% | 1.29% | 0.72% | 0.79% |
| What you pay | 1.04% | 1.79% | 1.79% | 1.29% | 0.72% | 0.79% |
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.