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Portfolio holdings

American High-Income Trust®

As of March 31, 2014 (updated quarterly, upon availability)

Fixed-income securities* Shares or principal amount Market value
ABBOTT LABORATORIES 4(2) CP 4/21/2014 80,000,000 $79,997,200
ABBOTT LABORATORIES 4(2) CP 5/19/2014 30,000,000 $29,997,928
ABBOTT LABORATORIES 4(2) CP 5/28/2014 55,000,000 $54,996,444
ACADEMY SPORTS 144A LIFE SR UNSEC 9.25% 08-01-19 21,050,000 $23,076,063
ACCELLENT SR SEC 1ST LIEN 8.375% 02-01-17 7,500,000 $7,763,775
ACCESS MIDSTREAM SR UNSEC ADD ON 5.875% 04-15-21 9,300,000 $9,951,000
ADS WASTE SR UNSEC 8.25% 10-01-20 6,050,000 $6,609,625
ADT CORP SR UNSEC 4.125% 04-15-19 43,925,000 $43,643,968
ADVANCED MICRO DEVICES SR UNSEC 144A 6.75% 03-01-19 15,000,000 $15,093,750
AES CORP SR UNSEC 4.875% 05-15-23 4,000,000 $3,840,000
AES CORP SR UNSEC 5.5% 03-15-24 24,810,000 $24,685,950
AES CORP SR UNSEC 7.375% 07-01-21 5,775,000 $6,612,375
AES CORP SR UNSEC 7.75% 10-15-15 5,575,000 $6,090,688
AES CORP SR UNSEC 8.0% 06-01-20 16,300,000 $19,315,500
AES CORP SR UNSEC 8.0% 10-15-17 4,238,000 $5,027,328
ALCATEL-LUCENT SR UNSEC 144A LIFE 4.625% 07-01-17 52,800,000 $54,516,000
ALCATEL-LUCENT SR UNSEC 144A LIFE 6.75% 11-15-20 21,550,000 $22,896,875
ALCATEL-LUCENT SR UNSEC 144A LIFE 8.875% 01-01-20 47,015,000 $53,597,100
ALPHA NATURAL RESOURCES INC SR UNSEC 6.0% 06-01-19 35,025,000 $27,056,813
ALPHA NATURAL RESOURCES INC SR UNSEC 6.25% 06-01-21 53,410,000 $40,458,075
ALPHA NATURAL RESOURCES INC SR UNSEC 9.75% 04-15-18 52,205,000 $50,508,338
ALTEGRITY (USIS) 144A LIFE SR SUB 11.75% 05-01-16 20,350,000 $15,262,500
ALTEGRITY (USIS) 144A LIFE SR UNSEC 10.5% 11-01-15 48,330,000 $44,765,663
ALTEGRITY (USIS) TL-B (L+400) (FLR 1.00) 5.0% 02-21-15 11,769,445 $11,556,136
ALTEGRITY (USIS) TL-D (L+600) (FLR 1.75) 7.75% 02-21-15 47,979,788 $47,455,033
ALTICE 144A LIFE SR UNSEC 6.5% 01-15-22 32,700,000 $34,580,250
ALTICE 144A LIFE SR UNSEC 8.125% 01-15-24 10,375,000 $11,230,938
AMERICAN ENERGY UTICA CV PIK TOGGLE 144A LIFE SUB 3.5% 03-01-21 43,726,000 $45,059,643
AMERICAN TOWER SR UNSEC 7.0% 10-15-17 10,825,000 $12,586,585
AMERICAN TOWER SR UNSEC 7.25% 05-15-19 3,700,000 $4,405,768
ARAMARK CORP SR UNSEC 5.75% 03-15-20 5,000,000 $5,306,250
ARAMARK CORP TL-E (L+250) (FLR 0.75) 3.25% 09-07-19 26,000,000 $25,829,388
ARCELORMITTAL SR UNSEC 4.5%/5.0% 02-25-17 14,250,000 $15,194,063
ARCELORMITTAL SR UNSEC 5.5%/6.0% 03-01-21 38,292,000 $41,020,305
ARCELORMITTAL SR UNSEC 6.25%/6.75% 02-25-22 15,625,000 $17,226,563
ARCELORMITTAL SR UNSEC 6.75%/7.25% 03-01-41 69,295,000 $69,814,713
ARCELORMITTAL SR UNSEC 9.85%/10.35% 06-01-19 2,000,000 $2,542,500
ARCH COAL 1ST LIEN TL-B1 (L+500) (FLR 1.25) 6.25% 05-16-18 32,534,806 $32,138,304
ARCH COAL INC 144A LIFE SR SEC 2ND LIEN 8.0% 01-15-19 10,000,000 $10,025,000
ARCH COAL INC SR UNSEC 7.0% 06-15-19 73,866,000 $57,430,815
ARCH COAL INC SR UNSEC 7.25% 06-15-21 71,966,000 $54,694,160
ARCH COAL INC SR UNSEC 9.875% 06-15-19 13,486,000 $11,800,250
ARGENTINA BONAR 07X 7.0% 04-17-17 8,000,000 $7,168,224
ASSOCIATED MATERIALS SR SEC 1ST LIEN 9.125% 11-01-17 152,692,000 $161,471,790
AUTOMOTORES GILDEMEISTER 144A LIFE SR UNSEC 6.75% 01-15-23 1,875,000 $1,275,000
AUTOMOTORES GILDEMEISTER 144A LIFE SR UNSEC 8.25% 05-24-21 4,795,000 $3,596,250
AUTOMOTORES GILDEMEISTER REG S SR UNSEC 6.75% 01-15-23 3,000,000 $2,040,000
AUTOMOTORES GILDEMEISTER REG S SR UNSEC 8.25% 05-24-21 415,000 $311,250
AVIANCA HOLDINGS SA 144A LIFE SR UNSEC 8.375% 05-10-20 22,075,000 $23,289,125
AXA PRP 144A LIFE T1 (H) 6.463% 12-29-49/18 16,244,000 $17,157,725
AXALTA COATINGS SYS 144A LIFE SR UNSEC 7.375% 05-01-21 33,035,000 $36,090,738
AXALTA COATINGS SYS EUR 144A LIFE SR SEC 5.75% 02-01-21 2,630,000 $3,886,048
AXALTA COATINGS SYS TL-B (L+300) (FLR 1.00) 4.00% 02-01-20 12,148,200 $12,180,745
BAKER CORP SR UNSEC 8.25% 06-01-19 23,400,000 $24,394,500
BALL CORP SR UNSEC 5.0% 03-15-22 3,615,000 $3,723,450
BALL CORP SR UNSEC 5.75% 05-15-21 16,830,000 $18,050,175
BALL CORP SR UNSEC 6.75% 09-15-20 2,555,000 $2,781,756
BANK OF IRELAND EUR T2 SUB COCO REG S 10.0% 07-30-16 17,805,000 $27,003,795
BANK OF IRELAND LT2 REG S EUR SUB (B) 10.0% 12-19-22 7,000,000 $12,054,438
BE AEROSPACE INC SR UNSEC 5.25% 04-01-22 48,275,000 $49,904,281
BFF INTERNATIONAL 144A LIFE SR UNSEC 7.25% 01-28-20 18,950,000 $21,603,000
BONANZA CREEK ENERGY SR UNSEC 6.75% 04-15-21 18,650,000 $20,002,125
BORGATA TL-B (L+575) (FLR 1.00) 6.75% 08-15-18 49,875,000 $50,726,616
BOYD GAMING CORP SR UNSEC 9.0% 07-01-20 75,655,000 $84,071,619
BOYD GAMING CORP SR UNSEC 9.125% 12-01-18 82,070,000 $89,374,230
BRASIL FOODS SA 144A LIFE SR UNSEC 5.875% 06-06-22 8,250,000 $8,559,375
BRUNSWICK RAIL FINANCE 144A LIFE SR UNSEC 6.5% 11-01-17 29,055,000 $29,490,825
BRUNSWICK RAIL FINANCE REG S SR UNSEC 6.5% 11-01-17 36,130,000 $36,671,950
BUILDERS FIRSTSOURCE 144A LIFE SR SEC 1ST LIEN 7.625% 06-01-21 24,139,000 $26,190,815
BURGER KING 144A LIFE SR UNSEC .0%/11.0% 04-15-19 54,225,000 $49,887,000
BURLINGTON COAT FACTORY SR UNSEC 10.0% 02-15-19 5,250,000 $5,886,563
C&S GROUP ENTERPRISES 144A LIFE SR SEC 1ST LIEN 8.375% 05-01-17 38,551,000 $40,382,173
CAESARS ENT 144A SR SEC 1ST LIEN 8.0% 10-01-20 33,325,000 $35,241,188
CAESARS ENT TL-B SR SEC 1ST LIEN (L+600) (FLR 1.00) 7.0% 10-11-20 14,962,500 $15,174,474
CAESARS ENTERTAINMENT SR SEC 1ST LIEN 11.25% 06-01-17 44,295,000 $42,744,675
CAESARS ENTERTAINMENT SR SEC 1ST LIEN 9.0% 02-15-20 25,830,000 $23,311,575
CAESARS ENTERTAINMENT SR SEC 1ST LIEN 9.0% 02-15-20 94,270,000 $85,078,675
CARAUSTAR TL-COV LITE SR SEC 1ST LIEN (L+625) (FLR 1.25) 7.50% 05-01-19 5,102,024 $5,195,559
CARMIKE CINEMAS INC SR SEC 2ND LIEN 7.375% 05-15-19 14,000,000 $15,347,500
CATALENT PHARMA SOLUTIONS TL-SR UNSEC (L+525) (FLR 1.25) 6.50% 12-31-17 19,165,000 $19,436,511
CATAMARAN CORP SR UNSEC 4.75% 03-15-21 5,500,000 $5,589,375
CATLIN INS PRP 144A LIFE T1 (H) 7.249% 07-29-49/01-19-17 30,275,000 $31,486,000
CBS OUTDOOR 144A SR UNSEC 5.25% 02-15-22 6,000,000 $6,165,000
CBS OUTDOOR 144A SR UNSEC 5.625% 02-15-24 6,000,000 $6,165,000
CDX -SELLP- NA HY S21 5Y 5.0% 12-20-18 0.30 REC JPM-ICE 150,000,000 $11,921,100
CEMEX FINANCE 144A LIFE SECURED 1ST LIEN 7.25% 01-15-21 28,500,000 $31,207,500
CEMEX FINANCE 144A LIFE SR SEC 1ST LIEN 9.375% 10-12-22 47,820,000 $56,367,825
CEMEX SA 144A LIFE SR SEC 1ST LIEN 9.25% 05-12-20 7,635,000 $8,417,588
CEMEX SA REG S SR SEC 1ST LIEN 9.5% 06-15-18 3,500,000 $4,077,684
CENGAGE LEARNING TL-B (L+600) (FLR 1.00) 7.0% 03-06-20 36,910,000 $37,402,121
CENTENE CORP SR UNSEC 5.75% 06-01-17 43,035,000 $47,015,738
CEQUEL COMMUNICATIONS 144A LIFE SR UNSEC 6.375% 09-15-20 112,100,000 $117,705,000
CERIDIAN CORP SR UNSEC 11.25% 11-15-15 11,000,000 $11,110,000
CEVA GROUP PLC 144A LIFE SR SEC 1ST LIEN 4.0% 05-01-18 42,250,000 $40,031,875
CEVA GROUP PLC 144A LIFE SR SEC 1ST LIEN 7.0% 03-01-21 9,475,000 $9,688,188
CEVA GROUP PLC 144A LIFE SR SEC 1ST LIEN 9.0% 09-01-21 19,100,000 $19,625,250
CEVA GROUP TL-B (L+550) (FLR 1.00) 6.5% 03-19-21 58,475,000 $58,365,359
CHEVRON USCP 4(2) CP 4/16/2014 44,800,000 $44,797,195
CHILE GVT BD CLP BCPCL 6.0% 02-01-21 3,130,000,000 $6,060,713
CHILE GVT BD CLP BTPCL 6.0% 01-01-20 2,385,000,000 $4,609,731
CHUCK E CHEESE'S 144A SR UNSEC 8.0% 02-15-22 28,325,000 $29,458,000
CINEMARK USA INC SR UNSEC 4.875% 06-01-23 10,750,000 $10,387,188
CINEMARK USA INC SR UNSEC 5.125% 12-15-22 12,475,000 $12,537,375
CIT GROUP INC SER C 144A SR UNSEC 5.5% 02-15-19 16,675,000 $18,029,844
CIT GROUP INC SR UNSEC 3.875% 02-19-19 31,575,000 $31,965,014
CIT GROUP INC SR UNSEC 4.25% 08-15-17 31,500,000 $33,075,000
CIT GROUP INC SR UNSEC 5.0% 05-15-17 67,470,000 $72,445,913
CIT GROUP INC SR UNSEC 5.25% 03-15-18 4,275,000 $4,611,656
CITYCENTER TL-B (L+400) (FLR 1.00) 5.0% 10-16-20 51,096,938 $51,581,285
CLEAR CHANNEL WORLDWIDE SR SUB 7.625% 03-15-20 45,900,000 $49,801,500
CLEARWIRE COMM 144A LIFE SR SEC 1ST LIEN 14.75% 12-01-16 13,650,000 $18,137,438
CLEARWIRE COMMUNICATIONS CV 144A 8.25% 12-01-40 7,722,000 $8,986,478
CLIFFS NATURAL RESOURCES SR UNSEC 3.95% 01-15-18 15,625,000 $15,722,625
CMS ENERGY CORP SR UNSEC 8.75% 06-15-19 21,125,000 $27,155,026
COCA-COLA CO 4(2) CP 5/13/2014 38,500,000 $38,496,282
COCA-COLA CO 4(2) CP 5/30/2014 44,700,000 $44,694,721
COCA-COLA CO 4(2) CP 7/7/2014 20,000,000 $19,995,380
COMMUNITY HEALTH TL-D1 (L+325) (FLR 1.0) 4.25% 01-27-21 24,683,138 $24,922,169
COMPUCOM SYSTEMS INC 144A LIFE SR UNSEC 7.0% 05-01-21 4,825,000 $4,873,250
CONSOL ENERGY INC SR UNSEC 8.0% 04-01-17 19,920,000 $20,816,400
CONSOL ENERGY INC SR UNSEC 8.25% 04-01-20 61,600,000 $67,221,000
CONSTELLATION BRANDS SR UNSEC 3.75% 05-01-21 9,650,000 $9,457,000
CONSTELLATION BRANDS SR UNSEC 4.25% 05-01-23 10,350,000 $10,143,000
CONSTELLATION BRANDS SR UNSEC 6.0% 05-01-22 6,975,000 $7,759,688
CONSTELLATION BRANDS SR UNSEC 7.25% 05-15-17 6,500,000 $7,572,500
CONSTELLATION BRANDS SR UNSEC 8.375% 12-15-14 1,650,000 $1,732,500
CONTL AIR 00-1 A1 EETC SF 8.048% 11-01-20/05-01-22 269,435 $311,366
CONTL AIR 00-1 B SF 8.388% 11-01-20/05-01-22 3,634,014 $3,870,225
CONTL AIR 00-2 A1 SF 7.707% 04-02-21/10-02-22 2,758,587 $3,149,961
CONTL AIR 00-2 B EETC SF 8.307% 10-02-19/04-02-18 641,212 $689,303
CONTL AIR 01-1 A1 SF 6.703% 12-15-22/06-15-21 5,546,336 $6,100,970
CONTL AIR 01-1 B EETC SF 7.373% 12-15-15/06-15-17 2,370,384 $2,517,051
CONTL AIR 97-4 A EETC SF 6.9% 01-02-18/07-02-19 2,034,897 $2,204,048
CONTL AIR 97-4 B SUB SF 6.9% 07-02-18/01-02-17 525,691 $541,462
CONTL AIR 98-1 B SF 6.748% 03-15-17/09-15-18 2,794,830 $2,983,481
CONTL AIRLINES EETC 991A SF 6.545% 08-02-20/02-02-19 2,494,947 $2,777,968
CONVATEC PIK 144A LIFE SR UNSEC 8.25% 01-15-19 60,940,000 $62,920,550
COOPER STANDARD TL-B (L+300) (FLR 1.00) 4.0% 04-11-21 14,325,000 $14,378,719
COSAN USD 144A LIFE SR UNSEC 5.0% 03-14-23 5,000,000 $4,712,500
COTT BEVERAGES INC SR UNSEC 8.125% 09-01-18 13,325,000 $14,207,781
CRC HEALTH CORP 1ST LIEN TL (L+425) (FLR 1.00) 5.25% 04-11-21 28,000,000 $28,210,000
CRC HEALTH CORP 2ND LIEN TL-B (L+800) (FLR 1.00) 9.0% 10-11-21 45,150,000 $45,347,531
CRESCENT RESOURCES 144A LIFE SR SEC 2ND LIEN 10.25% 08-15-17 102,170,000 $115,196,675
CRICKET COMMUNICATIONS SR UNSEC 7.75% 10-15-20 106,036,000 $121,384,711
CROATIA GOVT USD 144A 6.375% 03-24-21 2,810,000 $3,041,825
CROATIA GOVT USD 144A 6.75% 11-05-19 4,510,000 $4,989,188
CROATIA GOVT USD 144A LIFE 5.5% 04-04-23 10,200,000 $10,358,100
CUMULUS MEDIA SR UNSEC 7.75% 05-01-19 17,315,000 $18,527,050
CUMULUS MEDIA TL-B (L+325) (FLR 1.0) 4.25% 12-23-20 46,014,698 $46,436,331
DAE TL-B1 (L+400) (FLR 1.00) 5.0% 11-02-18 41,438,825 $42,129,486
DAE TL-B2 (L+400) (FLR 1.00) 5.0% 11-02-18 18,028,098 $18,328,572
DEL MONTE FOODS CO SR UNSEC 7.625% 02-15-19 28,821,000 $30,063,906
DELL TL-B (L+350) (FLR 1.00) 4.5% 04-29-20 90,523,125 $90,025,248
DELTA AIR 02-1 G-1 EETC MBIA SF 6.718% 01-02-23/07-02-24 7,998,766 $9,378,553
DELTA AIR 10-B 2B 144A LIFE EETC 6.75% 05-23-17/11-23-15 7,650,000 $8,263,913
DENBURY RESOURCES INC SR SUB 4.625% 07-15-23 41,550,000 $38,849,250
DENBURY RESOURCES INC SR SUB 8.25% 02-15-20 6,088,000 $6,651,140
DIGICEL GROUP LTD 144A LIFE SR UNSEC 10.5% 04-15-18 10,450,000 $11,129,250
DIGICEL GROUP LTD 144A LIFE SR UNSEC 6.0% 04-15-21 97,092,000 $99,519,300
DIGICEL GROUP LTD 144A LIFE SR UNSEC 7.125% 04-01-22 71,025,000 $72,001,594
DIGICEL GROUP LTD 144A LIFE SR UNSEC 8.25% 09-30-20 104,275,000 $111,834,938
DINEEQUITY SR UNSEC 9.5% 10-30-18 29,275,000 $32,056,125
DISH DBS SR UNSEC 4.25% 04-01-18 63,400,000 $66,332,250
DISH DBS SR UNSEC 4.625% 07-15-17 73,650,000 $78,621,375
DISH DBS SR UNSEC 5.125% 05-01-20 35,550,000 $37,149,750
DISH DBS SR UNSEC 7.125% 02-01-16 3,500,000 $3,832,500
DISH DBS SR UNSEC 7.875% 09-01-19 3,550,000 $4,206,750
DJO FINANCE LLC SR SEC 2ND LIEN 8.75% 03-15-18 25,875,000 $28,268,438
DJO FINANCE LLC SR UNSEC 7.75% 04-15-18 29,321,000 $31,006,958
DJO FINANCE LLC SR UNSEC 9.875% 04-15-18 68,130,000 $74,602,350
DJO FINANCE LLC SUB 9.75% 10-15-17 37,538,000 $39,977,970
DYNACAST INTL SR SEC 2ND LIEN 9.25% 07-15-19 12,200,000 $13,633,500
ECHOSTAR CORP SR SEC 1ST LIEN 6.5% 06-15-19 6,650,000 $7,331,625
ECHOSTAR CORP SR UNSEC 7.625% 06-15-21 16,850,000 $19,082,625
ECOPETROL SA SR UNSEC 5.875% 09-18-23 3,050,000 $3,339,750
EDISON MISSION ENE SR UNSEC 7.0% 05-15-17 3,095,000 $2,831,925
EDISON MISSION ENE SR UNSEC 7.2% 05-15-19 19,200,000 $17,568,000
EDISON MISSION ENE SR UNSEC 7.5% 06-15-13/06-15-23 8,000,000 $7,300,000
EDISON MISSION ENE SR UNSEC 7.625% 05-15-27 10,005,000 $9,179,588
ELETSON HOLDINGS 144A LIFE SR SEC 1ST LIEN 9.625% 01-15-22 19,450,000 $20,617,000
EMERSON ELECTRIC 4(2) CP 4/25/2014 22,200,000 $22,198,741
EMERSON ELECTRIC 4(2) CP 6/16/2014 20,000,000 $19,996,740
EMGESA SA ESP 144A LIFE COP SR UNSEC 8.75% 01-25-21 10,600,000,000 $5,738,258
ENA NORTE TRUST 144A LIFE SR UNSEC SF 4.95% 04-25-28/23 4,074,155 $4,122,313
ENDO PHARMACEUTICALS 144A LIFE SR UNSEC 5.75% 01-15-22 30,325,000 $31,158,938
ENEL SPA 144A LIFE (H) 8.75% 09-24-73/23 15,000,000 $16,887,948
ESKOM HOLDINGS LTD USD 144A LIFE SR UNSEC 6.75% 08-06-23 36,250,000 $38,636,015
ESTERLINE TECHNOLOGIES SR UNSEC 7.0% 08-01-20 42,860,000 $46,610,250
EURAMAX INTL INC SR SEC 1ST LIEN 9.5% 04-01-16 86,715,000 $88,015,725
FAR EAST CAPITAL LTD (FESCO) 144A LIFE SR SEC 1ST LIEN 8.0% 05-02-18 15,555,000 $12,910,650
FAR EAST CAPITAL LTD (FESCO) 144A LIFE SR SEC 1ST LIEN 8.75% 05-02-20 30,725,000 $25,194,500
FAR EAST CAPITAL LTD (FESCO) REG S SR SEC 1ST LIEN 8.75% 05-02-20 9,600,000 $7,872,000
FED FARM CR DISC NT 10/31/2014 25,000,000 $24,983,750
FED FARM CR DISC NT 7/11/2014 45,000,000 $44,992,350
FED HM LN BK DISC NT 05-16-14 13,700,000 $13,698,800
FED HM LN BK DISC NT 4/11/2014 31,900,000 $31,899,110
FED HM LN BK DISC NT 4/17/2014 8,000,000 $7,999,811
FED HM LN BK DISC NT 4/21/2014 20,100,000 $20,099,585
FED HM LN BK DISC NT 4/23/2014 25,000 $24,999
FED HM LN BK DISC NT 4/30/2014 36,300,000 $36,298,216
FED HM LN BK DISC NT 5/2/2014 35,000,000 $34,998,133
FED HM LN BK DISC NT 5/22/2014 16,700,000 $16,698,553
FED HM LN BK DISC NT 5/23/2014 17,100,000 $17,098,130
FED HM LN BK DISC NT 5/9/2014 5,000,000 $4,999,598
FED HM LN BK DISC NT 7/16/2014 50,000,000 $49,991,000
FED HM LN MTG CORP DISC NT 05-05-14 27,400,000 $27,398,113
FED HM LN MTG CORP DISC NT 10/20/2014 80,000,000 $79,955,200
FED HM LN MTG CORP DISC NT 8/1/2014 25,000,000 $24,995,000
FED HM LN MTG CORP DISC NT 9/17/2014 25,000,000 $24,991,000
FED NAT MTG DISC NT 10/27/2014 59,600,000 $59,563,644
FED NAT MTG DISC NT 6/2/2014 30,450,000 $30,446,955
FED NAT MTG DISC NT 7/2/2014 54,200,000 $54,191,870
FED NAT MTG DISC NT 7/22/2014 65,300,000 $65,288,246
FELCOR LODGING SR SEC 1ST LIEN 5.625% 03-01-23 8,467,000 $8,594,005
FIAT 144A SR SEC 2ND LIEN ADD ON 8.25% 06-15-21 51,600,000 $58,630,500
FIRST DATA CORP 144A LIFE SR SEC 1ST LIEN 6.75% 11-01-20 15,575,000 $16,821,000
FIRST DATA CORP 144A LIFE SR SEC 1ST LIEN 7.375% 06-15-19 5,000,000 $5,387,500
FIRST DATA CORP 144A LIFE SR SEC 2ND LIEN 8.25% 01-15-21 22,441,000 $24,460,690
FIRST DATA CORP PIK 144A LIFE SR SEC 2ND LIEN 8.75% 01-15-22 16,963,000 $18,616,892
FIRST DATA CORP PIK 144A LIFE SR UNSEC 14.5% 09-24-19 87,650,000 $82,729,154
FIRST DATA CORP SR SUB 11.75% 08-15-21 198,950,000 $209,892,250
FIRST DATA CORP SR UNSEC 12.625% 01-15-21 118,046,000 $141,064,970
FIRST QUANTUM 144A LIFE SR UNSEC 6.75% 02-15-20 138,162,000 $140,579,835
FIRST QUANTUM 144A LIFE SR UNSEC 7.0% 02-15-21 143,912,000 $147,150,020
FIRSTENERGY CORP SR UNSEC 2.75% 03-15-18 5,500,000 $5,489,748
FLORIDA EAST COAST RAILROAD SR SEC 1ST LIEN 8.125% 02-01-17 14,645,000 $15,322,331
FMG RESOURCES 144A LIFE SR UNSEC 6.0% 04-01-17 97,317,000 $102,730,258
FMG RESOURCES 144A LIFE SR UNSEC 6.875% 02-01-18 36,260,000 $38,299,625
FMG RESOURCES 144A LIFE SR UNSEC 6.875% 04-01-22 5,000,000 $5,406,250
FMG RESOURCES 144A LIFE SR UNSEC 8.25% 11-01-19 18,375,000 $20,281,406
FORD MOTOR CR SR UNSEC 5.625% 09-15-15 1,000,000 $1,066,391
FORD MOTOR CR SR UNSEC 6.625% 08-15-17 2,600,000 $3,006,245
FORD MOTOR CR SR UNSEC 7.0% 04-15-15 3,000,000 $3,192,147
FORD MOTOR CR SR UNSEC 8.0% 12-15-16 7,000,000 $8,204,168
FORD MOTOR CR SR UNSEC 8.7% 10-01-14 1,000,000 $1,040,835
FOREST LABORATORIES INC 144A SR UNSEC 4.375% 02-01-19 74,980,000 $79,010,175
FOREST LABORATORIES INC 144A SR UNSEC 4.875% 02-15-21 14,125,000 $14,954,844
FOREST LABORATORIES INC 144A SR UNSEC 5.0% 12-15-21 165,608,000 $175,544,480
FREESCALE SEMI SR SEC 1ST LIEN 144A LIFE 5.0% 05-15-21 66,110,000 $67,762,750
FREESCALE SEMI SR SEC 1ST LIEN 144A LIFE 6.0% 01-15-22 67,700,000 $72,015,875
FREESCALE SEMI SR UNSEC 10.75% 08-01-20 17,830,000 $20,771,950
FREESCALE TL-B4 (L+325) (FLR 1.0) 4.25% 03-01-20 37,000,000 $37,156,103
FRONTIER COMMUNICATIONS SR UNSEC 7.125% 01-15-23 44,650,000 $46,770,875
FRONTIER COMMUNICATIONS SR UNSEC 7.625% 04-15-24 49,598,000 $52,077,900
FRONTIER COMMUNICATIONS SR UNSEC 8.125% 10-01-18 26,251,000 $30,779,298
FRONTIER COMMUNICATIONS SR UNSEC 8.5% 04-15-20 70,867,000 $82,737,223
FRONTIER COMMUNICATIONS SR UNSEC 8.75% 04-15-22 16,925,000 $19,400,281
FRONTIER COMMUNICATIONS SR UNSEC 9.25% 07-01-21 51,625,000 $61,433,750
GANNETT SR UNSEC 144A LIFE 5.125% 10-15-19 16,955,000 $17,781,556
GANNETT SR UNSEC 144A LIFE 6.375% 10-15-23 20,455,000 $21,759,006
GARDNER DENVER 144A LIFE (REN ACQ) SR UNSEC 6.875% 08-15-21 6,000,000 $6,210,000
GARDNER DENVER TL-B (L+325) (FLR 1.00) 4.25% 07-30-20 42,798,529 $42,833,324
GENERAL ELECTRIC CP 4/1/2014 43,000,000 $42,999,940
GENWORTH FINANCIAL INC JR SUB (H) 6.15% 11-15-66/16 17,500,000 $16,231,250
GEORGIA GULF CORP 144A SR UNSEC 4.625% 02-15-21 6,000,000 $5,955,000
GEORGIA GULF CORP 144A SR UNSEC 4.875% 05-15-23 17,160,000 $16,902,600
GLENCORE XSTRATA LLC 144A LIFE SR UNSEC 4.125% 05-30-23 9,855,000 $9,431,324
GLOBAL A&T ELECTRONICS 144A LIFE SR SEC 1ST LIEN 10.0% 02-01-19 24,090,000 $19,874,250
GM FINANCIAL SR UNSEC 3.25% 05-15-18 5,960,000 $6,034,500
GM FINANCIAL SR UNSEC 4.25% 05-15-23 1,500,000 $1,485,000
GM FINANCIAL SR UNSEC 6.75% 06-01-18 1,040,000 $1,190,800
GMAC (ALLY) SR UNSEC 7.5% 09-15-20 8,000,000 $9,540,000
GOL LINHAS 144A LIFE SR UNSEC 10.75% 02-12-23 5,450,000 $5,313,750
GOOGLE INC 4(2) CP 4/16/2014 15,500,000 $15,499,449
GRAPHIC PACKAGING SR UNSEC 4.75% 04-15-21 9,845,000 $9,906,531
GREECE GOVT BOND EUR PSI (11Y) REG S 2.0% 02-24-23 8,780,000 $9,541,141
GREECE GOVT BOND EUR PSI (12Y) REG S 2.0% 02-24-24 8,780,000 $9,285,352
GREECE GOVT BOND EUR PSI (13Y) REG S 2.0% 02-24-25 8,780,000 $9,124,805
GREECE GOVT BOND EUR PSI (14Y) REG S 2.0% 02-24-26 8,780,000 $8,954,980
GREECE GOVT BOND EUR PSI (15Y) REG S 2.0% 02-24-27 8,780,000 $8,806,928
GREECE GOVT BOND EUR PSI (16Y) REG S 2.0% 02-24-28 8,780,000 $8,645,873
GREECE GOVT BOND EUR PSI (17Y) REG S 2.0% 02-24-29 8,780,000 $8,531,386
GREECE GOVT BOND EUR PSI (18Y) REG S 2.0% 02-24-30 8,780,000 $8,429,540
GREECE GOVT BOND EUR PSI (19Y) REG S 2.0% 02-24-31 8,780,000 $8,336,403
GREECE GOVT BOND EUR PSI (20Y) REG S 2.0% 02-24-32 8,780,000 $8,258,022
GREECE GOVT BOND EUR PSI (21Y) REG S 2.0% 02-24-33 8,780,000 $8,173,110
GREECE GOVT BOND EUR PSI (22Y) REG S 2.0% 02-24-34 8,780,000 $8,110,333
GREECE GOVT BOND EUR PSI (23Y) REG S 2.0% 02-24-35 8,780,000 $8,067,030
GREECE GOVT BOND EUR PSI (24Y) REG S 2.0% 02-24-36 12,280,000 $11,256,932
GREECE GOVT BOND EUR PSI (25Y) REG S 2.0% 02-24-37 16,030,000 $14,665,805
GREECE GOVT BOND EUR PSI (26Y) REG S 2.0% 02-24-38 13,230,000 $12,084,043
GREECE GOVT BOND EUR PSI (27Y) REG S 2.0% 02-24-39 9,530,000 $8,675,646
GREECE GOVT BOND EUR PSI (28Y) REG S 2.0% 02-24-40 14,080,000 $12,811,925
GREECE GOVT BOND EUR PSI (29Y) REG S 2.0% 02-24-41 15,780,000 $14,328,384
GREECE GOVT BOND EUR PSI (30Y) REG S 2.0% 02-24-42 10,530,000 $9,591,220
GRIFOLS WORLDWIDE 144A SR UNSEC 5.25% 04-01-22 18,325,000 $18,783,125
GRUPO TELEVISA MXN SR UNSEC 7.25% 05-14-43 68,660,000 $4,264,430
GUITAR CENTER SR UNSEC 144A LIFE 9.625% 04-15-20 10,600,000 $10,547,000
HALYK BANK USD 144A LIFE 7.25% 01-28-21 3,125,000 $3,282,090
HAMILTON SUNDSTRAND 144A LIFE SR UNSEC 7.75% 12-15-20 45,828,000 $49,608,810
HAWKER BEECHCRAFT TL-L/C (L+225) 0.0086% 03-26-14/02-15-15 3,547,484 $1,931,900
HCA BANK TL-B5 (L+275) 2.9025% 03-31-17 6,979,740 $6,986,287
HCA INC SR SEC 1ST LIEN 3.75% 03-15-19 60,695,000 $61,074,344
HCA INC SR SEC 1ST LIEN 5.0% 03-15-24 52,800,000 $53,031,000
HCA INC SR SEC 1ST LIEN 6.5% 02-15-20 36,840,000 $41,352,900
HCA INC SR SEC 1ST LIEN 7.875% 02-15-20 5,050,000 $5,388,350
HD SUPPLY SR UNSEC 11.5% 07-15-20 48,915,000 $58,331,138
HD SUPPLY SR UNSEC 7.5% 07-15-20 5,000,000 $5,481,250
HERTZ CORP SR UNSEC 4.25% 04-01-18 11,400,000 $11,799,000
HERTZ SR UNSEC 5.875% 10-15-20 7,800,000 $8,355,773
HERTZ SR UNSEC 6.25% 10-15-22 4,600,000 $4,945,000
HILTON 144A SR UNSEC 5.625% 10-15-21 33,865,000 $35,452,422
HILTON WORLDWIDE TL-B (L+300) (FLR 1.0) 3.75% 10-25-20 28,236,842 $28,321,553
HOSPITALITY PROPERTIES TRUST SR UNSEC 5.625% 03-15-17 3,880,000 $4,251,863
HOSPITALITY PROPERTIES TRUST SR UNSEC 6.3% 06-15-16 700,000 $753,205
HOSPITALITY PROPERTIES TRUST SR UNSEC 6.7% 01-15-18 2,945,000 $3,296,845
HOVNANIAN 144A LIFE SR UNSEC 7.0% 01-15-19 10,000,000 $10,281,250
ICAHN ENTERPRISES SR UNSEC 144A 3.5% 03-15-17 52,800,000 $53,460,000
ICAHN ENTERPRISES SR UNSEC 144A 4.875% 03-15-19 17,150,000 $17,493,000
ICAHN ENTERPRISES SR UNSEC 144A ADD ON 6.0% 08-01-20 9,650,000 $10,277,250
IMS HEALTH 144A LIFE PIK SR UNSEC 7.375%09-01-18 32,180,000 $32,823,600
INC RESEARCH LLC 144A LIFE SR UNSEC 11.5% 07-15-19 58,127,000 $65,538,193
INC RESEARCH LLC TL-B1 (L+325) (FLR 1.00) 4.25% 07-12-18 16,370,442 $16,413,824
INDONESIA REP OF 144A 6.875% 01-17-18 9,425,000 $10,756,281
INDONESIA REP OF 144A LIFE 5.875% 01-15-24 16,050,000 $17,273,813
INDONESIA REP OF REG S 3.75% 04-25-22 15,925,000 $15,108,844
INGLES MARKETS INC SR UNSEC 5.75% 06-15-23 23,000,000 $23,115,000
INTELSAT JACKSON (UN-GTE) 144A ADD ON SR UNSEC 6.625% 12-15-22 183,835,000 $192,107,575
INTELSAT JACKSON (UN-GTE) SR UNSEC 6.625% 12-15-22 21,650,000 $22,624,250
INTELSAT JACKSON SR UNSEC 7.25% 10-15-20 31,325,000 $34,105,094
INTELSAT LUXEMBOURG 144A SR UNSEC 6.75% 06-1-18 7,600,000 $8,075,000
INTL LEASE FIN SR UNSEC 4.875% 04-01-15 38,065,000 $39,587,981
INVENTIV 144A LIFE SR SEC 1ST LIEN 9.0% 01-15-18 172,065,000 $183,249,225
INVENTIV 144A SR UNSEC 10.0%/11.0% 08-15-18 55,390,000 $51,512,700
INVENTIV 144A SR UNSEC MIRROR 10.0%/11.0% 08-15-18 116,915,000 $108,438,663
IRON MOUNTAIN INC SR SUB 5.75% 08-15-24 44,175,000 $43,236,281
IRON MOUNTAIN INC SR UNSEC 6.0% 08-15-23 950,000 $1,014,125
ISTAR FINANCIAL INC SR UNSEC 3.875% 07-01-16 4,275,000 $4,424,625
ISTAR FINANCIAL INC SR UNSEC 4.875% 07-01-18 37,663,750 $38,793,663
ISTAR FINANCIAL INC SR UNSEC 9.0% 06-01-17 55,740,000 $65,773,200
ISTAR FINANCIAL INC TL-B (L+350) (FLR 1.00) 4.5% 10-15-17 43,423,609 $43,661,092
JABIL CIRCUIT INC SR UNSEC 8.25% 03-15-18 5,900,000 $7,080,000
JAGUAR LAND ROVER PLC 144A LIFE SR UNSEC 8.125% 05-15-21 15,725,000 $17,926,500
JBS S.A. 144A LIFE SR UNSEC 7.75% 10-28-20 37,825,000 $40,094,500
JELD-WEN ESCROW 144A LIFE SR SEC 1ST LIEN 12.25% 10-15-17 83,760,000 $93,392,400
JMC STEEL GROUP 144A LIFE SR UNSEC 8.25% 03-15-18 138,715,000 $142,356,269
JO ANN STORES INC 144A LIFE SR UNSEC 8.125% 03-15-19 83,905,000 $87,470,963
JOHN DEERE CAPITAL CORP 4(2) CP 4/3/2014 16,000,000 $15,999,907
JOHN DEERE FINANCIAL LTD 4(2) CP 4/8/2014 20,000,000 $19,999,600
JP MORGAN CHASE PFD SERIES S PRP (H) 6.75% 08-29-49/02-01-24 17,500,000 $18,506,250
JP MORGAN CHASE PFD SERIES U PRP (H) 6.125% 12-29-49/04-30-24 9,795,000 $9,682,328
KINDER MORGAN SR SEC 1ST LIEN 144A LIFE 5.0% 02-15-21 19,150,000 $19,274,839
KINDRED HEALTHCARE INC TL-B (L+300) (FLR 1.00) 4.0% 04-11-21 42,250,000 $42,461,250
KINETIC CONCEPTS INC SR SEC 2ND LIEN 10.5% 11-01-18 169,500,000 $195,772,500
KINETIC CONCEPTS INC SR UNSEC 12.5% 11-01-19 111,702,000 $130,970,595
KINETIC CONCEPTS TL-E1 (L+300) (FLR 1.00) 4.0% 05-04-18 19,651,170 $19,733,568
LA QUINTA TL-B SR SEC 1ST LIEN (L+300) (FLR 1.0%) 4.0% 02-24-21 24,250,000 $24,291,686
LAREDO PETROLEUM INC SR UNSEC 7.375% 05-01-22 7,675,000 $8,557,625
LAREDO PETROLEUM INC SR UNSEC 9.5% 02-15-19 33,850,000 $37,531,188
LAUREATE EDUCATION INC 144A SR UNSEC 9.25% 09-01-19 34,800,000 $37,236,000
LAWSON SOFTWARE INC SR UNSEC 9.375% 04-01-19 30,800,000 $34,842,500
LBG CAPITAL NO.1 PLC 144A LIFE LT2 ECN (H) 7.875% 11-01-20 39,490,000 $43,376,092
LEE ENTERPRISES TL-B SR SEC 1ST LIEN (L+625) (FLR 1.00) 7.25% 03-21-19 3,000,000 $3,030,000
LEVEL 3 COMM INC SR UNSEC 11.875% 02-01-19 15,525,000 $17,620,875
LEVEL 3 ESCROW INC SR UNSEC 8.125% 07-01-19 4,900,000 $5,402,250
LIBERTY MEDIA CV SR NT (MOTOROLA) 3.5% 01-15-31 48,500,000 $25,857,775
LIBERTY MUTUAL GROUP INC SER A 144A LIFE (H) 7.80% 03-07-87/3-15-37 39,908,000 $44,497,420
LIBERTY MUTUAL GROUP INC SER B 144A LIFE (H) 7.0% 03-07-67/03-15-17 11,185,000 $11,744,250
LIGHTSQUARED TL-B PIK 12.0% 10-01-14 144,712,989 $172,932,021
LIGHTSQUARED TL-DIP PIK 15.0% 04-15-14 6,866,469 $6,866,469
LIMITED BRANDS INC SR UNSEC 6.625% 04-01-21 14,226,000 $16,057,598
LINEAR TECHNOLOGY CV SER A (OPT) 3.0% 05-1-27 46,000,000 $55,056,250
LSB INDUSTRIES 144A LIFE SR UNSEC 7.75% 08-01-19 52,400,000 $56,461,000
MARFRIG HOLDING BV 144A LIFE SR UNSEC 9.875% 07-24-17 6,075,000 $6,371,156
MARFRIG OVERSEAS 144A LIFE SR UNSEC 9.5% 05-04-20 12,255,000 $12,423,506
MARFRIG OVERSEAS REG S SR UNSEC 8.375% 05-09-18 1,750,000 $1,755,250
MARFRIG OVERSEAS REG S SR UNSEC 9.5% 05-04-20 4,900,000 $4,967,375
MARINA DISTRICT FINANCE SR SEC 1ST LIEN 9.875% 08-15-18 21,000,000 $22,653,750
MCCLATCHY CO SR SEC 1ST LIEN 9.0% 12-15-22 26,750,000 $31,264,063
MDC PARTNERS INC 144A LIFE SR UNSEC 6.75% 04-01-20 4,000,000 $4,230,000
MEDIACOM BROADBAND LLC SR UNSEC 144A 5.5% 04-15-21 10,500,000 $10,578,750
MEDIACOM BROADBAND LLC SR UNSEC 6.375% 04-01-23 24,575,000 $26,172,375
MEDIACOM LLC SR UNSEC 7.25% 02-15-22 19,300,000 $21,133,500
MEDIACOM LLC SR UNSEC 9.125% 08-15-19 24,250,000 $26,068,750
MEDPACE HOLDINGS TL-B (L+400) (FLR 1.0) 5.0% 04-09-21 11,900,000 $11,840,500
MERCK & CO INC 4(2) CP 5/29/2014 45,300,000 $45,296,939
METLIFE CAPITAL INC (H) 10.75% 08-01-39/69 7,000,000 $10,640,000
METLIFE CAPITAL TRUST IV 144A LIFE (H) 7.875% 12-15-67/37 14,950,000 $17,715,750
METLIFE CAPITAL TRUST X 144A LIFE (H) 9.25% 04-08-68/38 17,645,000 $23,203,175
MGM MIRAGE INC SR UNSEC 5.25% 03-21-20 17,150,000 $17,707,375
MGM MIRAGE INC SR UNSEC 6.625% 07-15-15 5,575,000 $5,937,375
MGM MIRAGE INC SR UNSEC 6.75% 10-01-20 9,000,000 $10,001,250
MGM MIRAGE INC SR UNSEC 7.5% 06-01-16 9,000,000 $10,068,750
MGM MIRAGE INC SR UNSEC 7.75% 03-15-22 18,950,000 $22,076,750
MGM MIRAGE INC SR UNSEC 8.625% 02-01-19 27,205,000 $32,714,013
MICHAELS STORES 144A LIFE SR SUB 5.875% 12-15-20 12,500,000 $12,671,875
MICHAELS STORES 144A LIFE PIK SR UNSEC 7.50% 08-01-18 16,700,000 $17,284,500
MICHAELS STORES SR UNSEC 7.75% 11-01-18 24,950,000 $26,790,063
MIDWEST GEN B SF 8.56% 01-02-16 21,149,775 $23,687,748
MILACRON INC 144A LIFE SR UNSEC 7.75% 02-15-21 10,275,000 $11,148,375
MILLICOM 144A LIFE SR UNSEC 4.75% 05-22-20 5,000,000 $4,912,500
MILLICOM 144A LIFE SR UNSEC 6.625% 10-15-21 27,210,000 $28,910,625
MIRABELA NICKEL 144A LIFE SR UNSEC 8.75% 04-15-18 22,650,000 $5,775,750
MIRABELA TL-BRIDGE PIK (FUNDED) 3.5% 03-28-14/06-30-14 4,647,054 $4,647,054
MODULAR SPACE CORP 144A LIFE SR SEC 2ND LIEN 10.25% 01-31-19 14,100,000 $14,699,250
MOHEGAN TRIBAL GAMING 144A LIFE PIK SR SUB 11.0% 09-15-18 38,375,000 $38,686,797
MOROCCO KINGDOM OF 144A LIFE USD 4.25% 12-11-22 13,000,000 $12,635,415
MULTIPLAN INC 144A LIFE SR UNSEC 9.875% 09-01-18 28,950,000 $31,555,500
MULTIPLAN TL-B SR SEC 1ST LIEN (L+300) (FLR 1.00) 4.0% 03-21-21 87,015,000 $87,082,959
NAT RURL UTIL CP 4/10/2014 36,200,000 $36,199,095
NAT RURL UTIL CP 4/15/2014 12,700,000 $12,699,471
NAT RURL UTIL CP 4/30/2014 23,900,000 $23,898,207
NAT RURL UTIL CP 4/9/2014 23,600,000 $23,599,469
NAVIOS MARITIME ACQUISITION 144A LIFE SR SEC 1ST LIEN 8.125% 11-15-21 69,895,000 $73,215,013
NAVIOS MARITIME HLDGS 144A LIFE SR SEC 1ST LIEN 7.375% 01-15-22 54,020,000 $55,370,500
NAVIOS MARITIME HLDGS SR UNSEC 8.125% 02-15-19 40,485,000 $41,092,275
NAVIOS SOUTH AMERICAN LOGISTICS SR UNSEC 9.25% 04-15-19 3,225,000 $3,466,875
NBC UNIVERSAL 144A LIFE PRP (H) 5.25% 12-19-49/03-19-21 23,885,000 $24,243,275
NEIMAN MARCUS / MARIPOSA 144A LIFE SR UNSEC 8.0% 10-15-21 47,875,000 $52,842,031
NEIMAN MARCUS TL-B (L+325) (FLR 1.00) 4.25% 10-25-20 67,480,875 $67,823,543
NEIMAN MARCUS/MARIPOSA PIK 144A LIFE SR UNSEC 8.75%/9.5% 10-15-21 53,080,000 $58,918,800
NEXTEL INTL 144A SR UNSEC 11.375% 08-15-19 191,970,000 $136,298,700
NEXTEL INTL 144A SR UNSEC 7.875% 08-15-19 124,780,000 $85,474,300
NEXTEL INTL SR UNSEC 10.0% 08-15-16 169,700,000 $70,001,250
NEXTEL INTL SR UNSEC 7.625% 04-01-21 215,896,000 $61,530,360
NEXTEL INTL SR UNSEC 8.875% 12-15-19 112,001,000 $50,680,453
NGPL PIPE TL-B (L+550)(FLR 1.25) 6.75% 09-15-17 11,461,893 $11,237,434
NGPL PIPECO LLC 144A LIFE SR SEC 1ST LIEN 9.625% 06-01-19 107,990,000 $115,819,275
NGPL PIPECO LLC 144A LIFE SR UNSEC 7.119% 12-15-17 60,725,000 $59,965,938
NIELSEN FINANCE LLC 144A LIFE SR UNSEC 5.0% 04-15-22 36,775,000 $37,050,813
NIELSEN FINANCE LLC 144A LIFE SR UNSEC 5.5% 10-01-21 8,525,000 $8,940,594
NIELSEN FINANCE LLC SR UNSEC 4.5% 10-01-20 31,770,000 $32,167,125
NIELSEN FINANCE LLC SR UNSEC 7.75% 10-15-18 1,000,000 $1,073,750
NJ EDA ACR ENERGY PARTNERS (REVEL) TAXABLE 11B SF (144A/QIB) 12.0% 12-01-30 12,385,000 $11,425,534
NORTEK INC SR UNSEC 10.0% 12-01-18 47,735,000 $52,627,838
NORTEK INC SR UNSEC 8.5% 04-15-21 75,092,000 $84,290,770
NORTHWEST AIRLINES SEC TL-SR (L+175) 2.0% 12-22-18 7,342,937 $6,828,931
NORWEGIAN CRUISE LINES SR UNSEC 5.0% 02-15-18 17,350,000 $18,087,375
NRG ENERGY INC 144A SR UNSEC 6.25% 07-15-22 25,500,000 $26,328,750
NRG ENERGY INC SR UNSEC 6.625% 03-15-23 9,000,000 $9,382,500
NRG ENERGY INC SR UNSEC 8.25% 09-01-20 6,000,000 $6,615,000
NXP BV 144A LIFE SR UNSEC 3.5% 09-15-16 12,170,000 $12,504,675
NXP BV 144A LIFE SR UNSEC 3.75% 06-01-18 27,000,000 $27,270,000
OASIS PETROLEUM 144A SR UNSEC 6.875% 03-15-22 15,175,000 $16,502,813
ODEBRECHT DRILLING 144A LIFE SF SR SEC 1ST LIEN 6.625% 10-01-22 9,435,000 $9,859,575
ODEBRECHT DRILLING 144A LIFE SR SEC 1ST LIEN SF 6.75% 10-01-22 57,381,642 $59,676,908
ODEBRECHT DRILLING NORBE 144A LIFE SR SEC SF 6.35% 06-30-21 5,688,000 $5,929,740
ODEBRECHT FINANCE LTD 144A LIFE SR UNSEC 5.125% 06-26-22 630,000 $630,000
OMNOVA SOLUTIONS INC SR UNSEC 7.875% 11-01-18 25,795,000 $27,665,138
PACIFIC RUBIALES 144A LIFE SR UNSEC 5.375% 01-26-19 41,750,000 $43,420,000
PACKAGING DYNAMICS 144A LIFE SR SEC 1ST LIEN 8.75% 02-01-16 19,960,000 $20,521,375
PATHEON INC 1ST LIEN TL-B (L+325) (FLR 1.0) 4.25% 03-11-21 24,515,000 $24,428,168
PATHEON SR UNSEC 144A LIFE 7.5% 02-01-22 9,510,000 $9,830,963
PDC ENERGY INC SR UNSEC 7.75% 10-15-22 91,575,000 $100,732,500
PEABODY ENERGY CORP SR UNSEC 6.0% 11-15-18 97,415,000 $102,651,056
PEABODY ENERGY CORP SR UNSEC 6.25% 11-15-21 35,925,000 $36,194,438
PEMEX 144A 6.375% 01-23-45 19,850,000 $21,462,813
PENNEY J C CO SR UNSEC 5.75% 02-15-18 15,481,000 $13,158,850
PEPSICO INC 4(2) CP 5/20/2014 45,900,000 $45,894,873
PETCO 144A LIFE SR UNSEC 9.25% 12-01-18 53,750,000 $57,915,625
PETROBRAS INTL SR UNSEC 5.75% 01-20-20 4,030,000 $4,228,119
PETROBRAS SR UNSEC 4.375% 05-20-23 1,330,000 $1,220,465
PETROBRAS SR UNSEC 6.25% 03-17-24 5,620,000 $5,804,892
PFIZER INC 4(2) CP 6/17/2014 59,800,000 $59,794,020
PILGRIMS PRIDE CORP SR UNSEC 7.875% 12-15-18 10,000,000 $10,800,000
PINNACLE ENTERTAINMENT 144A SR UNSEC 6.375% 08-01-21 23,600,000 $24,662,000
PLAYA RESORTS 144A LIFE SR UNSEC 8.0% 08-15-20 56,677,000 $61,494,545
PLAYA RESORTS TL-B (L+300) (FLR 1.00) 4.00% 08-09-19 10,522,125 $10,594,465
PLY GEM 144A SR UNSEC 6.5% 02-01-22 67,925,000 $68,858,969
PLY GEM TL-B1 (L+300) (FLR 1.0) 4.0% 02-01-21 27,675,000 $27,744,188
POLAND GOVT BOND PLN 5.75% 09-23-22 7,695,000 $2,830,153
POLAND GOVT BOND PLN 5.75% 10-25-21 3,305,000 $1,212,132
PORTUGAL GOVT 144A/REG S EUR 4.1% 04-15-37 35,550,000 $45,611,823
PORTUGAL GOVT EUR 144A/REG S (B) 5.65% 02-15-24 15,000,000 $23,345,175
PORTUGAL GOVT EUR 144A/REG S 3.85% 04-15-21 1,650,000 $2,335,679
PORTUGAL GOVT EUR 144A/REG S 4.95% 10-25-23 9,130,000 $13,596,305
POST HOLDINGS INC 144A LIFE SR UNSEC 6.75% 12-01-21 36,625,000 $38,868,281
POST HOLDINGS INC SR UNSEC 7.375% 02-15-22 25,000,000 $27,000,000
PQ CORP 144A LIFE SR SEC 2ND LIEN 8.75% 05-01-18 27,365,000 $29,964,675
PRA HOLDINGS 144A LIFE SR UNSEC 9.5% 10-01-23 48,520,000 $53,675,250
PROCTER & GAMBLE 4(2) CP 5/12/2014 50,000,000 $49,997,039
PROCTER & GAMBLE 4(2) CP 5/14/2014 24,900,000 $24,898,455
QBE CAPITAL FUNDING III LP 144A LIFE LT2 (H) 7.25% 05-24-41/21 7,650,000 $8,196,944
QGOG ATLANTIC/ALASKAN RIGS 144A SF SR SEC 1ST LIEN 5.25% 07-30-19/18 13,794,300 $14,318,483
QGOG CONSTELLATION SA 144A LIFE SR UNSEC 6.25% 11-09-19 85,595,000 $85,701,994
R.R. DONNELLEY & SONS SR UNSEC 6.0% 04-01-24 20,000,000 $20,200,000
R.R. DONNELLEY & SONS SR UNSEC 6.5% 11-15-23 49,150,000 $52,160,438
R.R. DONNELLEY & SONS SR UNSEC 7.0% 02-15-22 31,425,000 $34,724,625
R.R. DONNELLEY & SONS SR UNSEC 7.25% 05-15-18 25,900,000 $30,238,250
R.R. DONNELLEY & SONS SR UNSEC 7.875% 03-15-21 29,700,000 $34,155,000
REALOGY CORP 144A LIFE SR SEC 1.5 LIEN 7.875% 02-15-19 139,365,000 $151,036,819
REALOGY CORP 144A LIFE SR SEC 1.5 LIEN 9.0% 01-15-20 28,785,000 $33,030,788
REALOGY CORP 144A LIFE SR SEC 1ST LIEN 7.625% 01-15-20 3,000,000 $3,352,500
REALOGY CORP 144A LIFE SR UNSEC 3.375% 05-01-16 32,050,000 $32,370,500
REALOGY CORP TL-B (L+350) (FLR 1.00) 4.50% 03-05-20 976,234 $983,434
REALOGY CORP TL-L/C EXT (L+425) 4.5% 10-10-16 8,135,409 $8,140,494
RED DE CARRETERAS DE OCCIDENTE 144A LIFE MXN SR SEC 1ST LIEN SF 9.0% 06-10-28 151,560,000 $10,267,550
REGENCY ENERGY PARTNERS SR UNSEC 5.5% 04-15-23 16,100,000 $16,301,250
REGENCY ENERGY PARTNERS SR UNSEC 5.875% 03-01-22 10,875,000 $11,310,000
REGENCY ENERGY PARTNERS SR UNSEC 6.5% 07-15-21 32,650,000 $35,180,375
REPUBLIC OF BELARUS (B) 8.95% 01-26-18 35,395,000 $36,456,850
REPUBLIC OF BELARUS REG S (B) 8.75% 08-03-15 2,805,000 $2,854,088
REPUBLIC OF HUNGARY USD GLOBAL 4.125% 02-19-18 10,020,000 $10,211,992
REPUBLIC OF HUNGARY USD GLOBAL 6.25% 01-29-20 5,800,000 $6,358,250
REPUBLIC OF HUNGARY USD GLOBAL 6.375% 03-29-21 10,900,000 $11,976,375
REPUBLIC OF HUNGARY USD GLOBAL 7.625% 03-29-41 4,500,000 $5,208,750
REVEL ENT TL-B PIK TOGGLE (L+900) (FLR 1.00) 10.0% 06-30-15 14,414,684 $14,414,684
REVEL ENTERTAINMENT TL-B PIK TOGGLE 14.5% 05-21-18 82,238,555 $25,493,952
REYNOLDS GROUP SR SEC 1ST LIEN 5.75% 10-15-20 150,495,000 $158,395,988
REYNOLDS GROUP SR SEC 1ST LIEN 7.125% 04-15-19 5,700,000 $6,056,250
REYNOLDS GROUP SR SEC 1ST LIEN 7.875% 08-15-19 5,805,000 $6,421,781
REYNOLDS GROUP SR UNSEC 9.875% 08-15-19 53,765,000 $60,351,213
RHP HOTEL PROPERTIES SR UNSEC 5.0% 04-15-21 13,600,000 $13,770,000
RITE AID SR SEC 1ST LIEN 8.0% 08-15-20 14,000,000 $15,610,000
RITE AID SR SEC 2ND LIEN 10.25% 10-15-19 9,645,000 $10,657,725
ROSETTA RESOURCES INC SR UNSEC 5.625% 05-01-21 17,625,000 $18,109,688
ROTECH TL-2ND LIEN PIK (L+1100) (FLR 2.00) 13.0% 09-27-20 46,370,757 $46,370,757
ROTECH TL-A (L+425) (FLR 1.25) 5.50% 09-27-18 25,770,500 $25,770,500
ROTECH TL-B (L+875) (FLR 1.25) 10.0% 09-27-19 20,825,000 $20,825,000
ROYAL BK OF SCOTLAND PRP T1 (H) 144A LIFE 6.99% 10-29-49/10-05-17 15,376,000 $16,759,840
ROYAL CARIBBEAN SR UNSEC 11.875% 07-15-15 3,300,000 $3,753,750
RUSSIA GOVT OFZ RUB 7.5% 03-15-18 543,000,000 $15,089,570
RUSSIAN RAILWAYS RUB REG S LPN SR UNSEC 8.3% 04-02-19 289,500,000 $7,698,260
RYERSON INC SR SEC 1ST LIEN 9.0% 10-15-17 42,230,000 $45,713,975
RYERSON INC SR UNSEC 11.25% 10-15-18 71,275,000 $80,184,375
SABINE PASS LIQUEFACTION SR SEC 1ST LIEN 5.625% 02-01-21 81,125,000 $84,065,781
SAFWAY GROUP HLDG 144A LIFE SR SEC 2ND LIEN 7.0% 05-15-18 17,000,000 $18,190,000
SALLY BEAUTY SUPPLY SR UNSEC 5.75% 06-01-22 7,250,000 $7,703,125
SALLY BEAUTY SUPPLY SR UNSEC 6.875% 11-15-19 21,625,000 $23,787,500
SAMSON INVESTMENT CO 144A SR UNSEC 9.75%/10.75% 02-15-20 134,965,000 $147,786,675
SAMSON INVESTMENT CO TL-B 2ND LIEN (L+400) (FLR 1.00) 5.00% 09-25-18 2,800,000 $2,829,050
SCHAEFFLER HOLDING BV 144A LIFE PIK SR SEC 1ST LIEN 6.875% 08-15-18 17,775,000 $18,997,031
SCHAEFFLER HOLDING BV EUR 144A LIFE PIK SR SEC 1ST LIEN 6.875% 08-15-18 19,000,000 $27,922,555
SELECT MEDICAL CORP SR UNSEC 6.375% 06-01-21 92,610,000 $94,462,200
SEMINOLE TRIBE OF FL 144A LIFE SF SR UNSEC 7.804% 10-01-20 6,915,000 $7,744,800
SENECA GAMING CORP SR UNSEC 144A LIFE 8.25% 12-01-18 22,450,000 $24,133,750
SERENA SOFTWARE SR SUB NT 10.375% 03-15-16 19,694,000 $19,841,705
SIBUR OAO 144A LIFE SR UNSEC 3.914% 01-31-18 14,590,000 $13,349,850
SIX FLAGS INC 144A LIFE SR UNSEC 5.25% 01-15-21 55,739,000 $56,296,390
SLOVENIA GOVT USD 144A LIFE 4.75% 05-10-18 2,210,000 $2,370,269
SLOVENIA GOVT USD 144A LIFE 5.5% 10-26-22 16,100,000 $17,227,000
SLOVENIA GOVT USD 144A LIFE 5.85% 05-10-23 32,600,000 $35,697,000
SLOVENIA GOVT USD REG S 5.5% 10-26-22 20,435,000 $21,865,450
SMITHFIELD FOODS INC 144A LIFE SR UNSEC 5.25% 08-01-18 6,575,000 $6,846,219
SMITHFIELD FOODS INC 144A LIFE SR UNSEC 5.875% 08-01-21 5,925,000 $6,162,000
SMITHFIELD FOODS INC SR UNSEC 6.625% 08-15-22 20,130,000 $21,841,050
SMITHFIELD FOODS INC SR UNSEC 7.75% 07-01-17 11,500,000 $13,397,500
SMURFIT CAPITAL FUNDING (JSG) SR SEC 1ST LIEN 7.5% 11-20-25 25,515,000 $28,959,525
SOUTH AFRICA GVT ZAR R2023 7.75% 02-28-23 165,125,000 $15,167,660
SPRINGLEAF FIN CORP SR UNSEC 6.9% 12-15-17 40,000,000 $44,100,000
SPRINT 144A LIFE SR UNSEC 9.0% 11-15-18 31,150,000 $38,158,750
SPRINT 144A SR UNSEC 7.25% 09-15-21 107,425,000 $117,496,094
SPRINT 144A SR UNSEC 7.875% 09-15-23 83,375,000 $91,920,938
SPRINT CAPITAL SR UNSEC 6.9% 05-01-19 14,450,000 $15,931,125
SPRINT CAPITAL SR UNSEC 8.75% 03-15-32 1,800,000 $1,989,000
SPRINT SR UNSEC 11.5% 11-15-21 56,405,000 $75,300,675
SPRINT SR UNSEC 6.0% 11-15-22 8,000,000 $8,190,000
SPRINT SR UNSEC 6.0% 12-01-16 500,000 $549,375
SPRINT SR UNSEC 7.0% 08-15-20 163,785,000 $179,344,575
SPRINT SR UNSEC 8.375% 08-15-17 30,575,000 $36,116,719
SPRINT SR UNSEC 9.125% 03-01-17 16,935,000 $20,110,313
SRA INTERNATIONAL SR UNSEC 11.0% 10-01-19 75,612,000 $79,959,690
SRA INTERNATIONAL TL-B (L+525) (FLR 1.25) 6.50% 07-20-18 128,272,528 $128,913,891
STACKPOLE INTERNATIONAL 144A LIFE SR SEC 1ST LIEN 7.75% 10-15-21 15,805,000 $17,010,131
STATER BROTHERS SR UNSEC 7.75% 04-15-15 26,230,000 $26,361,150
SUNGARD DATA SYSTEMS SR UNSEC 7.375% 11-15-18 10,449,000 $11,089,001
SUNGARD DATA SYSTEMS SR UNSEC 7.625% 11-15-20 69,250,000 $76,261,563
SYMBION HEALTHCARE SR SEC 1ST LIEN 8.0% 06-15-16 42,375,000 $44,705,625
SYNIVERSE HOLDINGS SR UNSEC 9.125% 01-15-19 4,600,000 $5,025,500
T-MOBILE SR UNSEC 6.25% 04-01-21 137,025,000 $145,417,781
T-MOBILE SR UNSEC 6.542% 04-28-20 83,850,000 $90,558,000
T-MOBILE SR UNSEC 6.625% 04-01-23 150,000,000 $159,750,000
T-MOBILE SR UNSEC 6.731% 04-28-22 36,600,000 $39,345,000
TAMINCO GLOBAL CHEMICAL 144A LIFE SR SEC 2ND LIEN 9.75% 03-31-20 22,955,000 $25,996,538
TEEKAY SHIP CORP SR UNSEC 8.5% 01-15-20 31,430,000 $35,908,775
TELECOM ITALIA SR UNSEC 6.999% 06-04-18 15,600,000 $17,764,500
TENET HEALTHCARE 144A SR SEC 1ST LIEN 6.0% 10-01-20 55,285,000 $59,258,609
TENET HEALTHCARE SR SEC 1ST LIEN 4.5% 04-01-21 19,820,000 $19,448,375
TENET HEALTHCARE SR SEC 1ST LIEN 4.75% 06-01-20 4,440,000 $4,495,500
TENET HEALTHCARE SR SEC 1ST LIEN 6.25% 11-01-18 3,000,000 $3,320,625
TENET HEALTHCARE SR UNSEC 8.125% 04-01-22 38,465,000 $43,080,800
THE WEATHER COMPANY TL-2ND LIEN (L+600) (FLR 1.00) 7.0% 06-26-20 10,000,000 $9,750,000
TITLEMAX 144A LIFE SR SEC 1ST LIEN 8.5% 09-15-18 6,550,000 $7,205,000
TOYS R US DEL 144A LIFE SR SEC 7.375% 09-01-16 32,805,000 $30,590,663
TOYS R US DEL TL-B2 (L+375) (FLR 1.50) 5.25% 05-25-18 3,341,470 $2,804,747
TOYS R US SR SEC 1ST LIEN 8.5% 12-01-17 6,500,000 $6,654,375
TOYS R US SR UNSEC 7.375% 10-15-18 5,525,000 $4,447,625
TRAC INTERMODAL SR SEC 2ND LIEN 11.0% 08-15-19 74,030,000 $84,764,350
TRANS-CANADA PIPELINES JR SUB (H) 6.35% 05-15-67/17 10,295,000 $10,691,358
TRANSDIGM SR SUB 5.50% 10-15-20 35,350,000 $36,145,375
TRANSDIGM SR SUB NT 7.75% 12-15-18 48,525,000 $52,285,688
TREEHOUSE FOODS SR UNSEC 4.875% 03-15-22 15,000,000 $15,131,250
TREEHOUSE FOODS SR UNSEC 7.75% 03-01-18 5,600,000 $5,825,960
TRILOGY INTL PARTNERS 144A LIFE SR SEC 1ST LIEN 10.25% 08-15-16 103,240,000 $106,595,300
TXU (TCEH) TL-EXT (L+450) 4.73685% 10-10-17 94,877,740 $68,667,765
TXU (TCEH) TL-NON EXT (L+350) 3.73685% 10-10-14 5,801,901 $4,166,490
U S TREASURY BILL 04-24-14 100,000,000 $99,997,293
U S TREASURY BILL 4/17/2014 73,500,000 $73,498,022
UNITED AIR 07-1B EETC 144A LIFE SF 7.336% 01-02-21/07-02-19 3,045,639 $3,308,326
UNITED AIR 91A ETC SF 10.11% 01-05-06/16 1,134,642 $0
UNITED RENTALS SR UNSEC 6.125% 06-15-23 7,675,000 $8,173,875
UNITED RENTALS SR UNSEC 7.375% 05-15-20 11,625,000 $12,889,219
UNITED RENTALS SR UNSEC 7.625% 04-15-22 31,725,000 $35,730,281
UNITYMEDIA EUR 144A LIFE SR UNSEC 9.625% 12-01-19 10,800,000 $16,417,868
UNIVISION COMM 144A LIFE SR SEC 1ST LIEN 6.75% 09-15-22 2,713,000 $3,014,821
UNIVISION COMM 144A LIFE SR SEC 1ST LIEN 6.875% 05-15-19 4,230,000 $4,557,825
UNIVISION COMM 144A LIFE SR SEC 1ST LIEN 7.875% 11-01-20 700,000 $777,000
UNIVISION COMM 144A LIFE SR SEC 5.125% 05-15-23 915,000 $940,163
UNIVISION COMM 144A LIFE SR UNSEC 8.5% 05-15-21 10,795,000 $12,009,438
UNIVISION TL-C3 1ST LIEN (L+300) (FLR 1.00) 4.00% 03-01-20 32,465,499 $32,682,791
UNIVISION TL-C4 1ST LIEN (L+300) (FLR 1.00) 4.00% 03-01-20 5,985,000 $5,990,614
US TREASURY BOND 6.250% 08-15-23 50,000,000 $65,297,000
US TREASURY NOTE 0.25% 02-15-15 21,900,000 $21,923,871
US TREASURY NOTE 3.25% 05-31-16 20,000,000 $21,197,800
US TREASURY NOTE 4.0% 02-15-15 42,300,000 $43,735,239
VALEANT 144A LIFE SR UNSEC 5.625% 12-01-21 9,205,000 $9,688,263
VALEANT 144A LIFE SR UNSEC 6.375% 10-15-20 75,463,000 $81,877,355
VALEANT 144A LIFE SR UNSEC 6.75% 08-15-18 50,100,000 $55,360,500
VALEANT 144A LIFE SR UNSEC 7.5% 07-15-21 48,370,000 $54,658,100
VIRGIN MEDIA/NTL 144A LIFE 8.375% 10-15-19 33,175,000 $35,663,125
VTR FINANCE 144A LIFE SR SEC 1ST LIEN 6.875% 01-15-24 23,000,000 $23,977,500
VWR FUNDING SR UNSEC 7.25% 09-15-17 86,904,000 $93,856,320
WALTER 144A LIFE SR SEC 1ST LIEN 9.5% 10-15-19 39,835,000 $40,681,494
WALTER ENERGY INC SR UNSEC 8.5% 04-15-21 12,800,000 $8,128,000
WALTER ENERGY INC SR UNSEC 9.875% 12-15-20 15,100,000 $10,003,750
WALTER ENERGY PIK 144A LIFE SR SEC 2ND LIEN 11.0% 04-01-20 7,500,000 $6,787,500
WARNER MUSIC 144A LIFE SR SEC 1ST LIEN 6.0% 01-15-21 32,990,000 $34,557,025
WARNER MUSIC 144A LIFE SR SEC 5.625% 04-15-22 7,500,000 $7,631,250
WARNER MUSIC 144A LIFE SR UNSEC 6.75% 04-15-22 72,425,000 $73,239,781
WARNER MUSIC SR UNSEC 13.75% 10-01-19 17,725,000 $21,402,938
WATCO 144A LIFE SR UNSEC 6.375% 04-01-23 26,240,000 $26,764,800
WIND 144A LIFE SR SEC 1ST LIEN ADD ON 7.25% 02-15-18 54,580,000 $57,718,350
WIND EUR 144A LIFE SR SEC 1ST LIEN 7.375% 02-15-18 21,915,000 $32,003,276
WIND EUR 144A LIFE SR SEC 3RD LIEN 11.75% 07-15-17 51,090,000 $74,241,189
WIND SR NT 144A LIFE 11.75% 07-15-17 140,330,000 $148,048,150
WIND SR SEC 1ST LIEN 144A LIFE 7.25% 02-15-18 45,380,000 $48,102,800
WYNN MACAU 144A LIFE SR UNSEC 5.25% 10-15-21 60,925,000 $62,143,500
ZIONS BANCORP SUB 6.0% 09-15-15 303,000 $319,245
Equity securities* Shares or principal amount Market value Percent of net assets
ADELPHIA RECOVERY TRUST SER ACC-1 INT 10,643,283 $63,860 0.00%
ADELPHIA RECOVERY TRUST SER ARAHOVA INT 1,773,964 $35,479 0.00%
ALLY FINANCIAL INC PFD SER G 144A 7% PERPETUAL 24,250 $24,072,672 0.12%
AMERICAN MEDIA INC 4(2) NEW (NOT LISTED OR TRADING) 1,122,345 $6,049,440 0.03%
AMERICAN TOWER CORP (REIT) 538,967 $44,125,228 0.21%
ATRIUM CORP (ACIH) 4(2) (NOT LISTED OR TRADING) 10,987 $10,987 0.00%
CEVA GROUP PLC 144A (USD) (NOT LISTED OR TRADING) 59,168 $75,439,022 0.36%
CEVA GROUP PLC CV PFD SER A-1 (LIBOR+3.0% CUM) PERPETUAL 47,121 $80,106,176 0.38%
CEVA GROUP PLC CV PFD SER A-2 (LIBOR + 2.0% CUM) PERP PP (PHYSICAL) 21,062 $26,854,458 0.13%
CHESAPEAKE ENGERY CORP CV PFD 144A 5.75% PERPETUAL 22,200 $24,933,375 0.12%
CIT GROUP INC 124,904 $6,122,794 0.03%
CITIGROUP INC 405,574 $19,305,322 0.09%
CITIGROUP INC PFD SER K DEP SHS (1/1000TH 6.875% SER K PFD) PERP NON-CUM 1,247,925 $32,573,962 0.16%
COOPER-STANDARD HOLDINGS 1,671,343 $118,080,383 0.57%
COOPER-STANDARD HOLDINGS WTS 1:1@USD 27.33 11-27-17 48,411 $2,130,084 0.01%
DELTA AIR LINES INC 1,799,769 $62,361,996 0.30%
FIRST REPUBLIC BANK PFD SER A DEP SHS (1/40TH 6.7% SER A PFD) PERP NON-CUM 400,000 $10,169,000 0.05%
FIVE STAR TRAVEL CORPORATION 4(2) (NOT LISTED OR TRADING) 83,780 $26,396 0.00%
FORD MOTOR CO 810,210 $12,639,276 0.06%
GENERAL MARITIME CORPORATION 4(2) (NOT LISTED OR TRADING)(SEE COMMENTS) 12,599 $438,155 0.00%
GENERAL MARITIME CORPORATION WTS 4(2) 1:1 @ USD 42.50 05-17-17 (NOT LISTED) 19,483 $100,470 0.00%
GMAC CAPITAL TRUST PFD SERIES 2 8.125% 02-15-40 650,000 $17,714,125 0.09%
GOLDMAN SACHS PFD SER J DEP SHS PERP (1/1000 5.5% FIXED TO FLOAT SER J PFD) 1,558,884 $37,307,991 0.18%
HSBC HOLDINGS PLC EXCH PFD SER 2 (USD) 8.0% PERPETUAL 300,000 $8,100,750 0.04%
LIBERMAN BROADCASTING INC WTS PP 1:1 @ USD 0.01 11-30-22 10 $0 0.00%
NEWPAGE HOLDINGS INC PP (NOT LISTED OR TRADING) 226,200 $20,841,367 0.10%
PETROPLUS HOLDINGS AG (NOT LISTED OR TRADING) 3,360,000 $0 0.00%
REVEL AC INC PP 908,183 $0 0.00%
REVEL AC INC PP CVR (CONTINGENT VALUE RIGHT) 43,088,200 $538,603 0.00%
ROTECH HEALTHCARE INC (NEW) (NOT LISTED OR TRADING) 1,916,276 $17,725,553 0.09%
SWIRE PACIFIC CAPITAL LTD PFD 8.84% 144A PV25 CUMULATIVE GTD PERP CAP SECS 365,000 $10,048,925 0.05%
UNITED CONTINENTAL HOLDINGS INC 22,981 $1,025,642 0.00%
WELLS FARGO & CO PFD CL A SER Q DEP SHS (1/1000TH 5.85% SER Q PFD) PERP NON-CUM 1,065,347 $26,527,140 0.13%
WEYERHAEUSER CO CV PFD SER A 6.375% 07-01-16 1,000,000 $54,600,000 0.26%

*Excludes certain securities in initial period of acquisition.


Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors® and sold through unaffiliated intermediaries.