American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - High-Income Bond Fund

As of June 30, 2018 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACCO Brands Corp. 5.25% 2024 1,190,000 1,190,000
ADT Corp. 3.50% 2022 2,050,000 1,929,050
AECOM Technology Corp. 5.875% 2024 210,000 217,613
AES Corp. 4.00% 2021 1,200,000 1,197,000
AES Corp. 4.875% 2023 600,000 601,500
AES Corp. 5.50% 2025 3,382,000 3,424,275
AES Corp. 6.00% 2026 4,190,000 4,357,600
AES Corp. 7.75% 2024 700,000 664,097
AK Steel Holding Corp. 7.00% 2027 450,000 429,750
AK Steel Holding Corp. 7.625% 2021 2,000,000 2,049,400
APX Group, Inc. 8.75% 2020 1,360,000 1,305,056
ARAMARK Corp. 5.125% 2024 2,685,000 2,691,713
ARD Securities Finance S.a r.l. 8.75% 2023 1,290,000 1,319,025
Acrisure LLC 7.00% 2025 2,045,000 1,866,063
Aker BP ASA 5.875% 2025 2,100,000 2,170,350
Alcatel-Lucent USA Inc. 6.45% 2029 1,800,000 1,849,500
Alcoa Inc. 6.125% 2028 845,000 852,394
Allison Transmission Holdings, Inc. 5.00% 2024 6,265,000 6,178,856
Ally Financial Inc. 8.00% 2020 1,915,000 2,051,444
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.557% 2025 6,750,000 6,523,592
Altice Finco SA 8.125% 2024 905,000 905,000
Altice NV 5.50% 2026 1,300,000 1,257,750
Altice NV 6.625% 2023 835,000 824,980
Altice NV 7.50% 2026 1,250,000 1,212,125
Altice SA 7.625% 2025 725,000 669,719
AmeriGas Partners, LP 5.50% 2025 3,375,000 3,286,406
AmeriGas Partners, LP 5.75% 2027 975,000 931,125
American Axle & Manufacturing Holdings, Inc. 6.25% 2025 495,000 493,144
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 2,775,000 2,743,781
American Energy (Permian Basin), 7.125% 2020 7,445,000 4,727,575
American Energy (Permian Basin), 7.375% 2021 6,770,000 4,163,550
American Midstream Partners, LP, 8.50% 2021 1,350,000 1,329,750
Antero Resources Corp. 5.375% 2024 2,745,000 2,779,313
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 9.334% 2025 1,925,000 1,991,572
ArcelorMittal 6.125% 2025 500,000 541,250
Ardagh Group SA 7.125% 2023 450,000 452,250
Ardagh Packaging Finance 6.00% 2025 2,080,000 2,030,600
Ascent Resources Marcellus Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 6.50%) 8.501% 2023 1,329,167 1,334,705
Ascent Resources-Utica LLC 10.00% 2022 675,000 745,875
Ashtead Group PLC 4.125% 2025 920,000 862,500
Ashtead Group PLC 4.375% 2027 585,000 545,513
Associated Materials, LLC 9.00% 2024 7,000,000 7,367,500
Avis Budget Group, Inc. 5.50% 2023 2,330,000 2,280,488
Avon Products, Inc. 7.875% 2022 1,795,000 1,788,179
Axalta Coating Systems LLC 4.875% 2024 1,450,000 1,442,750
B&G Foods, Inc. 4.625% 2021 990,000 977,625
B&G Foods, Inc. 5.25% 2025 7,158,000 6,764,310
BJ's Wholesale Club, Term Loan, (3-month USD-LIBOR + 7.50%) 9.53% 2025 5,409,106 5,474,016
BWAY Parent Co. Inc., 5.50% 2024 2,190,000 2,140,725
BWAY Parent Co. Inc., 7.25% 2025 3,825,000 3,738,938
BWAY Parent Co. Inc., Term Loan, (3-month USD-LIBOR + 3.25%) 5.587% 2024 337,444 338,182
BWX Technologies, Inc. 5.375% 2026 1,710,000 1,735,650
Ball Corp. 4.375% 2020 1,775,000 1,794,969
Ball Corp. 5.00% 2022 825,000 850,781
Beacon Roofing Supply, Inc. 4.875% 2025 1,750,000 1,627,500
Berry Petroleum Corporation 7.00% 2026 2,160,000 2,214,000
Berry Plastics Corp. 5.50% 2022 820,000 828,323
Blackstone CQP Holdco LP, 6.00% 2021 1,600,000 1,604,000
Blackstone CQP Holdco LP, 6.50% 2021 21,230,000 21,336,150
Blue Racer Midstream LLC / Blue Racer Finance Corp. 6.125% 2022 2,000,000 2,030,000
Bohai Financial Investment Holding Co., Ltd. 4.50% 2023 925,000 880,878
Bohai Financial Investment Holding Co., Ltd. 5.25% 2022 675,000 670,788
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 2,375,000 2,350,751
Brand Energy 8.5% 2025 6,305,000 6,407,456
Builders FirstSource, Inc. 5.625% 2024 5,560,000 5,441,850
CCO Holdings LLC and CCO Holdings Capital Corp. 4.00% 2023 2,575,000 2,426,938
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 4,725,000 4,347,000
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2023 2,225,000 2,202,083
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2027 3,125,000 2,925,781
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2025 550,000 533,500
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 2026 2,600,000 2,527,720
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 8,450,000 8,323,250
CCO Holdings LLC and CCO Holdings Capital Corp. 5.875% 2024 1,350,000 1,360,125
CD&R Waterworks Merger Sub, LLC 6.125% 2025 1,165,000 1,109,663
CD&R Waterworks Merger Sub, LLC, Term Loan B, (3-month USD-LIBOR + 3.00%) 5.211% 2024 696,500 699,402
CEVA Group PLC, Term Loan B, (3-month USD-LIBOR + 5.50%) 7.859% 2021 587,061 586,694
CF Industries, Inc. 4.95% 2043 2,565,000 2,169,041
CIRSA GAMING CORPORATION SA 7.875% 12-30-23 2,385,000 2,332,840
CIT Group Inc. 3.875% 2019 2,917,500 2,929,170
CIT Group Inc. 4.125% 2021 1,695,000 1,688,644
CIT Group Inc. 5.25% 2025 620,000 626,200
CONSOL Energy Inc. 5.875% 2022 12,824,000 12,922,617
CRC Escrow Issuer LLC 5.25% 2025 3,250,000 3,083,438
CVR Partners, LP 9.25% 2023 1,300,000 1,343,875
Cablevision Systems Corp. 6.75% 2021 5,275,000 5,538,750
Caesars Resort Collection LLC, Term Loan, (3-month USD-LIBOR + 2.75%) 4.843% 2024 995,000 994,467
California Resources Corp., Term Loan B, (3-month USD-LIBOR + 4.75%) 6.838% 2022 3,200,000 3,266,000
California Resources Corp., Term Loan B1, (3-month USD-LIBOR + 10.375%) 12.466% 2021 1,325,000 1,475,719
Calpine Corp. 5.25% 2026 3,495,000 3,307,144
Calpine Corp. 5.375% 2023 1,650,000 1,575,750
Calpine Corp. 5.75% 2025 1,385,000 1,269,872
Calpine Corp. 5.875% 2024 1,020,000 1,012,350
Calpine Corp. 6.00% 2022 425,000 435,094
Camelot Finance SA 7.875% 2024 7,530,000 7,567,650
Carlyle Group LP 8.75% 2023 1,730,000 1,727,838
Carrizo Oil & Gas Inc. 6.25% 2023 2,500,000 2,543,750
Centene Corp. 4.75% 2022 6,515,000 6,588,294
Centene Corp. 4.75% 2025 3,655,000 3,645,863
Centene Corp. 5.375% 2026 5,660,000 5,748,466
Centene Corp. 6.125% 2024 2,000,000 2,112,500
CenturyLink, Inc. 6.75% 2023 5,350,000 5,390,125
CenturyLink, Inc. 7.50% 2024 1,300,000 1,339,000
CenturyLink, Inc., Series T, 5.80% 2022 800,000 796,000
Charles River Laboratories International, Inc. 5.50% 2026 885,000 889,160
Chemours Co. 6.625% 2023 2,410,000 2,530,500
Cheniere Energy Partners, LP 5.25% 2025 2,200,000 2,151,490
Chesapeake Energy Corp. (3-month USD-LIBOR + 3.25%) 5.598% 2019 2,220,000 2,220,000
Chesapeake Energy Corp. 4.875% 2022 4,500,000 4,342,500
Chesapeake Energy Corp. 8.00% 2022 2,993,000 3,152,976
Chesapeake Energy Corp. 8.00% 2025 6,100,000 6,227,795
Chesapeake Energy Corp. 8.00% 2027 2,795,000 2,850,900
Chesapeake Energy Corp., convertible notes, 5.50% 2026 600,000 611,271
Chobani LLC 7.50% 2025 2,330,000 2,245,538
Churchill Downs Inc. 4.75% 2028 1,000,000 930,000
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2009-E, 6.138% 2039 1,870,000 1,802,717
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 12,700,000 12,671,933
Cleveland-Cliffs Inc. 4.875% 2024 3,825,000 3,700,688
Cleveland-Cliffs Inc. 5.75% 2025 15,000,000 14,268,750
ClubCorp Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 2.75%) 5.084% 2024 2,046,670 2,033,879
Colorado Buyer Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.61% 2025 1,062,500 1,055,328
Commercial Metals Co. 5.375% 2027 1,200,000 1,143,000
Community Health Systems Inc. 6.25% 2023 850,000 782,000
Compass Diversified Holdings 8.00% 2026 4,755,000 4,659,900
Concordia Healthcare Corp. 7.00% 2023 6,590,000 411,875
Concordia Healthcare Corp. 9.50% 2022 1,645,000 102,813
Concordia Healthcare Corp., Term Loan B, (3-month USD-LIBOR + 4.25%) 6.343% 2021 1,518,085 1,352,993
Consolidated Energy Finance SA 6.50% 2026 1,445,000 1,432,356
Consolidated Energy Finance SA 6.875% 2025 750,000 772,500
Constellation Merger Sub Inc. 8.50% 2025 1,025,000 980,156
Constellium NV 5.875% 2026 1,450,000 1,402,875
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 2020 103,746 105,950
Continental Airlines, Inc., Series 2000-1, Class B, 8.388% 2022 38 42
Convey Park Energy LLC 7.50% 2025 1,400,000 1,435,000
Corporate Risk Holdings LLC 13.50% 2020 1,187,260 1,270,368
Corporate Risk Holdings LLC 9.50% 2019 12,782,000 13,373,168
Cott Beverages Inc. 5.50% 2025 1,670,000 1,628,250
Crescent Resources Holdings LLC 8.875% 2021 1,083,000 1,147,980
DAE Aviation Holdings, Inc. 10.00% 2023 7,965,000 8,632,069
DCP Midstream LP 7.375% 2022 (3-month USD-LIBOR +5.148 on 12/15/2022) 1,500,000 1,439,063
DCP Midstream Operating LP 4.95% 2022 3,030,000 3,071,663
DISH DBS Corp., convertible notes, 3.375% 2026 760,000 738,033
DaVita HealthCare Partners Inc. 5.00% 2025 2,365,000 2,231,969
DaVita HealthCare Partners Inc. 5.125% 2024 3,265,000 3,173,172
Deck Chassis Acquisition Inc. 10.00% 2023 3,940,000 4,196,100
Delta 2 (Formula One), Term Loan B, (3-month USD-LIBOR + 2.50%) 4.593% 2024 1,045,843 1,033,859
Denbury Resources Inc. 9.00% 2021 851,000 903,932
Diamond Offshore Drilling, Inc. 4.875% 2043 3,260,000 2,363,500
Diamond Offshore Drilling, Inc. 7.875% 2025 1,650,000 1,716,000
Diamondback Energy, Inc. 5.375% 2025 950,000 951,188
Dubai Aerospace Enterprise (DAE) Ltd. 4.5% 2022 695,000 675,888
Dynegy Finance Inc. 7.375% 2022 1,685,000 1,765,038
Dynegy Finance Inc. 7.625% 2024 260,000 278,525
ENERGIZER GAMMA ACQUISITION INC 6.375% 2026 1,530,000 1,558,688
EP Energy Corp. 7.75% 2026 1,200,000 1,230,000
EP Energy Corp. 8.00% 2024 1,300,000 1,319,500
Eagle Holding Co II LLC 7.625% 2022 450,000 455,715
EchoStar Corp. 6.625% 2026 525,000 486,938
Emera Inc. 6.75% 2076 ((3-month USD-LIBOR + 5.440% on 06/15/2026) 4,200,000 4,389,000
Enbridge Inc., Series A, 6.00% 2077 (3-month USD-LIBOR + 3.89% on 01/15/2027) 1,835,000 1,734,075
Endo International PLC 5.375% 2023 600,000 483,000
Endo International PLC 5.75% 2022 3,475,000 3,127,500
Endo International PLC 5.875% 2024 1,450,000 1,421,000
Endo International PLC 6.00% 2023 4,335,000 3,587,213
Endo International PLC 6.00% 2025 2,805,000 2,201,925
Enel Società per Azioni 8.75% 2073 2,000,000 2,232,500
Energy Transfer Partners, LP 4.25% 2023 1,775,000 1,717,330
Energy Transfer Partners, LP 5.50% 2027 3,120,000 3,127,800
Energy Transfer Partners, LP 5.875% 2024 2,925,000 3,005,438
Energy Transfer Partners, LP 6.25% (undated) (3-month USD-LIBOR +4.028 on 02/15/2023) 1,750,000 1,624,219
Ensco PLC 7.75% 2026 3,225,000 3,058,751
Ensco PLC, 5.75% 2044 4,845,000 3,439,950
Envision Healthcare Corp. 5.125% 2022 880,000 892,100
Equinix, Inc. 5.375% 2027 1,900,000 1,900,000
Equinix, Inc. 5.75% 2025 275,000 278,355
Equinix, Inc. 5.875% 2026 1,725,000 1,751,738
Euramax International, Inc. 12.00% 2020 2,850,000 3,006,750
Extraction Oil & Gas, Inc. 5.625% 2026 4,040,000 3,873,592
FED HM LN BK BD 7/20/2018 10,000,000 9,991,100
FXI Holdings, Inc. 7.875% 2024 1,430,000 1,401,400
Fair Isaac Corp. 5.25% 2026 1,425,000 1,437,469
Fertitta Entertainment, Inc. 6.75% 2024 2,100,000 2,105,628
Fertitta Entertainment, Inc. 8.75% 2025 2,075,000 2,136,648
First Data Corp. 5.00% 2024 1,100,000 1,095,875
First Data Corp. 5.375% 2023 2,050,000 2,074,088
First Data Corp. 5.75% 2024 2,525,000 2,532,828
First Data Corp. 7.00% 2023 3,130,000 3,267,970
First Quality Enterprises, Inc. 5.00% 2025 1,995,000 1,830,413
First Quantum Minerals Ltd. 6.50% 2024 2,725,000 2,636,438
First Quantum Minerals Ltd. 6.875% 2026 4,150,000 3,984,000
First Quantum Minerals Ltd. 7.00% 2021 5,070,000 5,130,206
First Quantum Minerals Ltd. 7.25% 2022 3,025,000 3,070,375
First Quantum Minerals Ltd. 7.25% 2023 1,225,000 1,228,063
First Quantum Minerals Ltd. 7.50% 2025 12,300,000 12,184,995
Firstplus Financial Group, Inc. 8.25% 2025 1,450,000 1,431,875
Five Point Holdings LLC 7.875% 2025 1,950,000 1,991,438
Flex Acquisition Company, Inc. 7.875% 2026 1,450,000 1,447,970
Freeport-McMoRan Inc. 3.55% 2022 7,415,000 7,062,788
Freeport-McMoRan Inc. 3.875% 2023 500,000 473,750
Freeport-McMoRan Inc. 6.875% 2023 1,000,000 1,058,700
Frontier Communications Corp. 10.50% 2022 7,440,000 6,789,000
Frontier Communications Corp. 11.00% 2025 14,225,000 11,446,858
Frontier Communications Corp. 8.50% 2026 4,000,000 3,875,000
Frontier Communications Corp. 9.25% 2021 1,500,000 1,462,500
Garda World Security Corp. 8.75% 2025 2,410,000 2,470,250
General Motors Acceptance Corp. 7.50% 2020 1,470,000 1,576,575
Genesis Energy, LP 6.50% 2025 1,690,000 1,630,850
Genesis Energy, LP 6.75% 2022 2,300,000 2,334,500
Genesys Telecommunications Laboratories, Inc. 10.00% 2024 5,095,000 5,699,394
Genesys Telecommunications Laboratories, Inc., Term Loan B3, (3-month USD-LIBOR + 3.50%) 0% 2023 573,666 574,981
Gogo Inc. 12.50% 2022 12,850,000 13,749,500
Goodyear Tire & Rubber Co. 4.875% 2027 750,000 687,195
H.I.G. Capital, LLC 6.75% 2024 5,149,000 5,052,456
HCA Inc. 4.50% 2027 2,025,000 1,911,094
HCA Inc. 5.25% 2026 550,000 547,635
HCA Inc. 5.375% 2025 650,000 641,680
HCA Inc. 5.875% 2023 1,925,000 2,002,000
HCA Inc. 5.875% 2026 1,805,000 1,825,306
HCA Inc. 7.50% 2022 360,000 392,400
HCA Inc. 7.50% 2033 315,000 333,113
HCA Inc. 7.75% 2036 205,000 217,300
HONEYWELL INTERNATIONAL 4(2) CP 7/25/2018 6,400,000 6,390,874
Hanesbrands Inc. 4.625% 2024 1,785,000 1,749,300
Hanesbrands Inc. 4.875% 2026 600,000 582,000
Hardwoods Acquisition Inc 7.50% 2021 1,810,000 1,687,825
Healthsouth Corp. 5.75% 2024 1,275,000 1,280,521
Healthsouth Corp. 5.75% 2025 2,480,000 2,517,200
Herbalife Ltd., Term Loan, (3-month USD-LIBOR + 5.50%) 7.593% 2023 2,718,750 2,748,202
Hertz Global Holdings Inc. 7.625% 2022 5,419,000 5,215,788
Hexion Inc. 10.375% 2022 1,850,000 1,822,250
Hexion Inc. 6.625% 2020 1,925,000 1,807,383
Hologic, Inc. 4.375% 2025 2,730,000 2,613,975
Howard Hughes Corp. 5.375% 2025 5,670,000 5,577,863
Hub International Ltd., 7.00% 2026 5,735,000 5,677,650
Hub International Ltd., Term Loan B, (3-month USD-LIBOR + 3.00%) 5.36% 2025 990,000 984,807
Huntsman International LLC 4.875% 2020 1,595,000 1,624,906
IMS Health Holdings, Inc. 5.00% 2026 2,350,000 2,297,125
INEOS Group Holdings SA 5.625% 2024 1,950,000 1,925,625
IRB Holding Corp. 6.75% 2026 4,000,000 3,830,000
Icahn Enterprises Finance Corp. 6.25% 2022 3,100,000 3,169,750
Indigo Natural Resources LLC 6.875% 2026 885,000 860,663
Infor (US), Inc. 6.50% 2022 3,725,000 3,757,594
Infor Software 7.125% 2021 7,960,000 8,009,750
Informatica Corp. 7.125% 2023 2,250,000 2,284,245
Inmarsat PLC 4.875% 2022 3,815,000 3,767,313
Inmarsat PLC 6.50% 2024 500,000 502,500
Intelsat Jackson Holding Co. 5.50% 2023 4,950,000 4,453,515
Intelsat Jackson Holding Co. 6.625% 2024 2,200,000 2,275,900
Intelsat Jackson Holding Co. 7.25% 2020 5,775,000 5,775,000
Intelsat Jackson Holding Co. 7.50% 2021 11,910,000 11,880,225
Intelsat Jackson Holding Co. 8.00% 2024 2,775,000 2,920,688
Intelsat SA, convertible notes, 4.50% 2025 550,000 675,779
International Game Technology 6.50% 2025 1,600,000 1,660,000
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 3.75%) 5.835% 2024 621,867 622,515
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 7.50%) 9.585% 2025 2,475,000 2,493,563
Iron Mountain Inc. 4.875% 2027 505,000 467,756
Iron Mountain Inc. 5.25% 2028 3,835,000 3,568,084
Iron Mountain Inc. 5.75% 2024 7,650,000 7,554,375
JBS SA 5.875% 2024 1,200,000 1,150,500
JELD-WEN Holding, Inc. 4.875% 2027 1,700,000 1,585,250
Jagged Peak Energy LLC 5.875% 2026 1,300,000 1,277,250
Jaguar Holding Co. 6.375% 2023 2,625,000 2,618,963
Jefferies Finance, LLC 7.50% 2021 785,000 800,700
Jonah Energy LLC 7.25% 2025 4,400,000 3,575,000
Jupiter Resources Inc. 8.50% 2022 695,000 286,688
KAR Auction Services, Inc. 5.125% 2025 2,035,000 1,948,513
Kcad Holdings I Ltd. 7.25% 2021 1,220,000 1,186,450
Kinetic Concepts, Inc. 12.50% 2021 6,463,000 7,173,930
Kinetic Concepts, Inc. 7.875% 2021 700,000 711,375
Kratos Defense & Security Solutions, Inc. 6.50% 2025 670,000 695,963
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 10.608% 2024 7,870,000 8,155,288
LPL Financial Holdings Inc. 5.75% 2025 1,240,000 1,209,000
LSB Industries, Inc. 9.625% 2023 3,040,000 3,074,200
LSC Communications, Inc. 8.75% 2023 3,455,000 3,398,856
Laredo Petroleum, Inc. 5.625% 2022 1,656,000 1,641,510
Laureate Education, Inc. 8.25% 2025 1,060,000 1,136,193
Levi Strauss & Co. 5.00% 2025 1,280,000 1,280,000
Liberty Global PLC 5.50% 2028 2,175,000 1,962,938
Liberty Global PLC 6.125% 2025 900,000 931,500
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 11.069% 2020 8,749,212 7,269,134
Limited Brands, Inc. 5.25% 2028 1,095,000 974,550
Limited Brands, Inc. 6.875% 2035 525,000 469,875
Live Nation Entertainment, Inc. 5.625% 2026 425,000 422,875
Live Nation Entertainment, Inc., convertible notes, 2.50% 2023 700,000 726,539
M.D.C. Holdings, Inc. 6.00% 2043 995,000 871,023
MDC Partners Inc. 6.50% 2024 750,000 654,375
MGM Resorts International 6.00% 2023 1,450,000 1,497,125
MGM Resorts International 7.75% 2022 1,800,000 1,966,500
Mallinckrodt PLC 4.875% 2020 5,365,000 5,297,938
Match Group, Inc. 5.00% 2027 205,000 191,163
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 4.50%) 6.593% 2024 1,901,919 1,914,599
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 8.50%) 10.594% 2025 875,000 893,594
McDermott International, Inc. 10.625% 2024 1,900,000 1,985,500
McDermott International, Term Loan B, (3-month USD-LIBOR + 5.00%) 6.908% 2025 1,172,063 1,179,681
Medical Properties Trust, Inc. 5.00% 2027 2,020,000 1,934,150
Meredith Corp. 6.875% 2026 7,140,000 7,059,675
Meredith Corp., Term Loan B, (3-month USD-LIBOR + 3.00%) 5.093% 2025 1,695,750 1,699,460
Meritage Homes Corp. 5.125% 2027 1,875,000 1,748,438
Merlin Entertainment 5.75% 2026 2,000,000 2,035,200
Mitchell International, Inc., Term Loan B, (3-month USD-LIBOR + 7.25%) 9.344% 2025 2,850,000 2,859,798
Mohegan Tribal Gaming Authority 7.875% 2024 975,000 922,594
Molina Healthcare, Inc. 4.875% 2025 4,294,000 4,186,650
Molina Healthcare, Inc. 5.375% 2022 10,910,000 11,032,738
Mueller Water Products Inc 5.5% 2026 1,450,000 1,464,500
Multi-Color Corp. 4.875% 2025 1,810,000 1,690,088
Multiplan, Inc. 7.125% 2024 2,575,000 2,645,813
Multiplan, Inc. 8.50% 2022 1,035,000 1,071,225
Murphy Oil Corp. 5.75% 2025 1,690,000 1,689,493
Murphy Oil Corp. 6.875% 2024 1,400,000 1,473,500
NGL Energy Partners LP 6.125% 2025 4,690,000 4,455,500
NGL Energy Partners LP 6.875% 2021 7,010,000 7,123,913
NMG Finco PLC 5.75% 2022 3,850,000 3,830,558
NRG Energy, Inc. 6.25% 2022 3,900,000 4,023,045
NRG Energy, Inc. 6.625% 2027 300,000 309,750
NRG Energy, Inc. 7.25% 2026 500,000 535,000
NVA Holdings Inc 6.875% 2026 3,080,000 3,076,150
Nabors Industries Ltd. 5.75% 2025 1,300,000 1,231,750
Navient Corp. 4.875% 2019 2,550,000 2,565,938
Navient Corp. 5.5% 2023 4,735,000 4,669,894
Navient Corp. 6.125% 2024 500,000 496,250
Navient Corp. 6.50% 2022 4,440,000 4,551,000
Navient Corp. 6.75% 2025 1,325,000 1,315,063
Navistar International Corp. 6.625% 2025 970,000 1,001,525
Navistar International Corp., Term Loan, (3-month USD-LIBOR + 4.75%) 5.53% 2024 1,102,238 1,107,060
Neiman Marcus Group LTD Inc. 8.00% 2021 675,000 449,719
Neiman Marcus Group LTD Inc. 8.75% 2021 1,625,000 1,088,750
Neiman Marcus Group LTD Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 5.564% 2020 4,185,706 3,720,046
Neptune Energy Group Holdings Limited 6.625% 2025 1,185,000 1,155,375
Neptune Finco Corp. (Altice NV) 6.625% 2025 1,250,000 1,282,813
Nielsen Finance LLC and Nielsen Finance Co. 5.00% 2022 650,000 640,315
Noble Corp. PLC 7.95% 2025 2,225,000 2,080,375
Noble Corp. PLC 8.95% 2045 2,250,000 2,064,375
Nova Chemicals Corp. 4.875% 2024 1,800,000 1,716,750
Nova Chemicals Corp. 5.25% 2027 2,650,000 2,476,094
Novelis Corp. 5.875% 2026 2,195,000 2,107,200
Novelis Corp. 6.25% 2024 760,000 761,900
NuStar Logistics, LP 5.625% 2027 2,000,000 1,942,500
Numericable Group SA 7.375% 2026 3,325,000 3,263,321
OCI NV 6.625% 2023 1,560,000 1,589,796
ONEOK, Inc. 7.50% 2023 1,250,000 1,433,688
Oasis Petroleum Inc. 6.25% 2026 910,000 920,238
Owens & Minor, Inc. 3.875% 2021 3,075,000 2,936,625
Owens & Minor, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 6.869% 2025 1,750,000 1,721,563
Owens-Illinois, Inc. 5.00% 2022 560,000 560,000
Owens-Illinois, Inc. 5.875% 2023 1,580,000 1,603,700
Owens-Illinois, Inc. 6.375% 2025 2,125,000 2,188,750
PAREXEL International Corp. 6.375% 2025 4,110,000 3,945,600
PDC Energy Inc. 5.75% 2026 1,125,000 1,126,406
PE Cortes NP Holdings LLC 12.00% 2022 1,550,000 1,509,313
PE Cortes NP Holdings LLC 9.25% 2024 1,725,000 1,699,125
PQ Group Holdings Inc. 5.75% 2025 685,000 679,863
Parsley Energy, Inc. 5.25% 2025 500,000 493,750
Parsley Energy, Inc. 5.375% 2025 650,000 648,375
Parsley Energy, Inc. 6.25% 2024 500,000 520,000
Peabody Energy Corp. 6.00% 2022 1,050,000 1,067,063
Peabody Energy Corp. 6.375% 2025 425,000 438,281
Petrobras Global Finance Co. 7.375% 2027 1,330,000 1,331,663
Petsmart Inc., Term Loan B-2, (3-month USD-LIBOR + 3.00%) 5.341% 2022 5,575,000 4,631,431
Petsmart, Inc. 5.875% 2025 15,140,000 11,695,650
Petsmart, Inc. 7.125% 2023 2,770,000 1,873,351
Petsmart, Inc. 8.875% 2025 6,430,000 4,259,875
Pilgrim's Pride Corp. 5.75% 2025 3,270,000 3,147,375
Pinnacle Foods Inc. 5.875% 2024 800,000 847,000
Pisces Parent LLC, Term Loan B, (3-month USD-LIBOR + 3.75%) 6.089% 2025 1,955,000 1,955,610
Pisces Parent, LLC 8.00% 2026 3,180,000 3,074,424
Plastipak Holdings, Inc. 6.25% 2025 1,995,000 1,845,375
Plastipak Holdings, Inc., Term Loan, (3-month USD-LIBOR + 2.50%) 4.49% 2024 327,529 326,403
Platform Specialty Products Corp. 5.875% 2025 6,535,000 6,396,131
Platform Specialty Products Corp. 6.50% 2022 1,950,000 1,989,000
Post Holdings, Inc. 5.00% 2026 1,840,000 1,720,400
Post Holdings, Inc. 5.625% 2028 2,405,000 2,263,706
Post Holdings, Inc. 8.00% 2025 1,550,000 1,726,313
Prestige Brands International Inc. 6.375% 2024 2,725,000 2,711,375
Prime Security Services Borrower, LLC 9.25% 2023 2,426,000 2,595,820
PrimeSource Building Products Inc 9.00% 2023 171,000 179,123
Province of Buenos Aires (Badlar Private Banks ARS Index + 3.75%) 26.563% 2028 4,236,000 115,741
QEP Resources, Inc. 5.625% 2026 855,000 819,731
QGOG Constellation SA 9.50% 2024 6,128,932 2,589,474
Quintiles Transnational Corp. 4.875% 2023 2,300,000 2,334,500
R.R. Donnelley & Sons Co. 6.50% 2023 2,400,000 2,376,000
R.R. Donnelley & Sons Co. 7.875% 2021 1,700,000 1,734,000
Range Resources Corp. 4.875% 2025 1,600,000 1,508,000
Range Resources Corp. 5.00% 2022 575,000 572,125
Rayonier Advanced Materials Inc. 5.50% 2024 1,710,000 1,615,950
Realogy Corp. 4.50% 2019 465,000 467,325
Realogy Corp. 4.875% 2023 3,425,000 3,236,625
Rexnord Corp. 4.875% 2025 2,610,000 2,466,450
Reynolds Group Inc. 5.75% 2020 314,960 316,535
Reynolds Group Inc. 7.00% 2024 3,650,000 3,734,406
Rockpoint Gas Storage Canada Ltd 7.00% 2023 2,450,000 2,462,250
Rodan & Fields, LLC TL-B, (3-month USD-LIBOR + 4.00%) 6.327% 2025 875,000 876,641
Rotech Healthcare Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 6.087% 2023 2,310,469 2,310,469
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.325% 2023 6,913,572 6,311,241
Ruyi US Finance LLC 7.50% 2025 1,205,000 1,206,506
Ryerson Inc. 11.00% 2022 6,336,000 6,985,440
SBA Communications Corp. 4.00% 2022 1,010,000 970,863
SBA Communications Corp. 4.875% 2022 700,000 695,625
SM Energy Co. 5.625% 2025 905,000 877,850
SM Energy Co. 6.125% 2022 750,000 772,500
SM Energy Co. 6.50% 2021 750,000 767,719
SOCIETE GENERALE SA 4(2) CP 7/2/2018 27,900,000 27,895,838
SPCM SA 4.875% 2025 1,675,000 1,603,813
STARS GROUP HOLDINGS BV, Term Loan, (3-month USD-LIBOR + 3.50%) 5.836% 2025 2,300,000 2,288,500
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 4,500,000 4,173,750
Sanchez Energy Corp. 7.25% 2023 2,525,000 2,509,219
Schaeffler Verwaltungs 4.75% 2026 1,350,000 1,274,063
Scientific Games Corp. 10.00% 2022 262,000 280,013
Scientific Games Corp. 5.00% 2025 2,340,000 2,234,700
Scientific Games Corp. 6.25% 2020 1,240,000 1,246,200
Scientific Games Corp., Term Loan B5, (3-month USD-LIBOR + 2.75%) X.XX% 2024 872,813 870,521
Scotts Miracle-Gro Co. 5.25% 2026 750,000 720,000
Sensata Technologies Holding NV 6.25% 2026 1,000,000 1,045,000
Seven Generations Energy Ltd. 5.375% 2025 425,000 409,594
Sirius XM Radio Inc 4.625% 2023 900,000 883,125
Sirius XM Radio Inc 5.375% 2025 525,000 519,094
Sirius XM Radio Inc 5.375% 2026 775,000 747,875
Sirius XM Radio Inc. 3.875% 2022 3,175,000 3,079,750
Six Flags Entertainment Corp. 4.875% 2024 5,425,000 5,285,035
Solenis International, L.P., Term Loan, (3-month USD-LIBOR + 4.00%) 6.325% 2024 1,200,000 1,198,750
Solenis International, L.P., Term Loan, (3-month USD-LIBOR + 8.50%) 8.5% 2024 2,320,000 2,292,450
Solera Holdings, Inc. 10.50% 2024 2,400,000 2,677,512
Sotheby's 4.875% 2025 5,870,000 5,649,875
Southwestern Energy Co. 4.10% 2022 7,430,000 7,132,800
Southwestern Energy Co. 7.50% 2026 2,325,000 2,418,000
Southwestern Energy Co. 7.75% 2027 475,000 494,000
Spectrum Brands Inc. 6.125% 2024 750,000 761,250
Springleaf Finance Corp. 6.875% 2025 2,075,000 2,064,625
Springleaf Finance Corp. 8.25% 2020 1,175,000 1,271,938
Sprint Corp. 11.50% 2021 5,880,000 6,967,800
Sprint Corp. 6.875% 2028 4,700,000 4,523,750
Sprint Corp. 7.125% 2024 950,000 961,486
Sprint Corp. 7.25% 2021 4,265,000 4,446,263
Sprint Corp. 7.875% 2023 2,030,000 2,109,931
Sprint Corp. 8.75% 2032 1,025,000 1,099,313
Standard Industries Inc. 6.00% 2025 1,750,000 1,763,125
Staples Inc. 8.50% 2025 1,190,000 1,112,650
Stars Group Holdings BV, 7.00% 2026 3,790,000 3,837,375
Starwood Property Trust, Inc. 5.00% 2021 1,710,000 1,727,100
Summit Materials, Inc. 5.125% 2025 2,795,000 2,634,288
Summit Materials, Inc. 6.125% 2023 620,000 632,400
Sunoco LP 4.875% 2023 4,225,000 4,066,563
Sunoco LP 5.50% 2026 1,895,000 1,800,250
Sunoco LP 5.875% 2028 725,000 685,364
T-Mobile US, Inc. 6.375% 2025 2,675,000 2,782,000
T-Mobile US, Inc. 6.50% 2026 900,000 928,980
TEEKAY OFFSHORE PARTNERS LP 8.50% 2023 3,550,000 3,594,375
TI Automotive Ltd. 8.75% 2023 554,000 579,318
Talen Energy Corp. 10.50% 2026 1,770,000 1,584,150
Talen Energy Corp. 4.60% 2021 1,670,000 1,448,725
Talen Energy Corp. 9.50% 2022 2,220,000 2,190,874
Tapstone Energy Inc. 9.75% 2022 2,075,000 1,820,813
Targa Resources Corp. 5.875% 2026 2,400,000 2,421,000
Targa Resources Partners LP 5.125% 2025 375,000 371,250
Targa Resources Partners LP 6.75% 2024 1,035,000 1,089,338
Team Health Holdings, Inc. 6.375% 2025 2,905,000 2,512,825
Teekay Corp. 8.50% 2020 12,018,000 12,438,630
Teekay Corp., convertible notes, 5.00% 2023 750,000 715,050
Teleflex Inc. 4.625% 2027 930,000 882,338
Tempo Acquisition LLC 6.75% 2025 1,650,000 1,588,125
Tenet Healthcare Corp. 4.375% 2021 4,255,000 4,207,131
Tenet Healthcare Corp. 4.50% 2021 1,405,000 1,397,975
Tenet Healthcare Corp. 4.625% 2024 4,042,000 3,843,740
Tenet Healthcare Corp. 4.75% 2020 4,050,000 4,080,375
Tenet Healthcare Corp. 5.125% 2025 450,000 429,469
Tenet Healthcare Corp. 6.75% 2023 1,650,000 1,647,938
Tenet Healthcare Corp. 8.125% 2022 3,250,000 3,404,375
Tenet Healthcare Corp., 6.00% 2020 6,565,000 6,770,156
Teva Pharmaceutical Finance Company BV 2.20% 2021 987,000 916,068
Teva Pharmaceutical Finance Company BV 2.80% 2023 1,925,000 1,664,037
Teva Pharmaceutical Finance Company BV 6.00% 2024 3,315,000 3,314,446
Teva Pharmaceutical Finance Company BV 6.75% 2028 2,900,000 2,959,850
Teva Pharmaceutical Industries Ltd. 4.50% 2025 800,000 958,949
TransDigm Inc. 6.50% 2024 705,000 719,100
Transdigm Inc. 6.875% 2026 1,000,000 1,016,250
Transocean Guardian LTD, 5.875% 2024 2,790,000 2,776,050
Transocean Inc. 7.50% 2026 350,000 356,344
Transocean Inc. 7.75% 2024 1,593,750 1,713,281
Transocean Inc. 8.375% 2021 2,805,000 3,015,375
Transocean Inc. 9.00% 2023 3,141,000 3,392,280
Trilogy International Partners, LLC 8.875% 2022 4,700,000 4,770,500
Trinseo SA 5.375% 2025 2,270,000 2,255,813
Tronox Ltd. 5.75% 2025 700,000 681,625
U.S. Treasury 0.875% 2018 5,000,000 4,998,150
USA Compression Partners, LP 6.875% 2026 1,950,000 2,025,563
Ultra Petroleum Corp. 6.875% 2022 4,090,000 3,118,625
Ultra Petroleum Corp. 7.125% 2025 1,675,000 1,185,063
Unisys Corp. 10.75% 2022 6,400,000 7,200,000
United Rentals, Inc. 4.625% 2025 5,080,000 4,851,400
United Rentals, Inc. 4.875% 2028 1,170,000 1,089,563
United States Steel Corp. 7.375% 2020 925,000 985,125
Vale SA 4.375% 2022 135,000 136,956
Vale SA 6.25% 2026 970,000 1,052,935
Valeant Pharmaceuticals International, Inc. 5.625% 2021 1,175,000 1,160,313
Valeant Pharmaceuticals International, Inc. 5.875% 2023 7,585,000 7,153,603
Valeant Pharmaceuticals International, Inc. 6.125% 2025 12,705,000 11,752,125
Valeant Pharmaceuticals International, Inc. 7.00% 2024 1,375,000 1,443,324
Valeant Pharmaceuticals International, Inc. 7.25% 2022 1,150,000 1,177,784
Valeant Pharmaceuticals International, Inc. 7.50% 2021 2,840,000 2,889,700
Valeant Pharmaceuticals International, Inc. 8.5% 2027 1,500,000 1,526,250
Valeant Pharmaceuticals International, Inc. 9.00% 2025 2,540,000 2,644,775
Valeant Pharmaceuticals International, Inc. 9.25% 2026 6,985,000 7,273,131
Valeant Pharmaceuticals International, Inc., Term Loan B, (3-month USD-LIBOR + 3.00%) 4.982% 2025 1,675,000 1,671,658
Vector Group Ltd. 6.125% 2025 1,750,000 1,695,313
Venator Materials Corp. 5.75% 2025 1,650,000 1,584,000
VeriSign, Inc. 5.25% 2025 1,175,000 1,195,210
Veritas Holdings Limited 7.50% 2023 1,655,000 1,555,700
Vertafore Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.331% 2026 2,850,000 2,840,202
Vine Oil & Gas LP 8.75% 2023 1,450,000 1,344,875
Vine Oil & Gas LP, Term Loan, (3-month USD-LIBOR + 6.875%) 8.969% 2021 1,550,000 1,557,750
Virgin Australia Holdings Ltd. 7.875% 2021 800,000 798,000
Virgin Australia Holdings Ltd. 8.50% 2019 1,425,000 1,444,594
Vizient Inc. 10.375% 2024 985,000 1,090,888
WPX Energy Inc. 5.75% 2026 2,045,000 2,052,669
WPX Energy Inc. 6.00% 2022 516,000 539,220
Warner Music Group 5.00% 2023 2,670,000 2,666,663
Warner Music Group 5.50% 2026 1,000,000 993,750
Warner Music Group 5.625% 2022 2,114,000 2,169,260
Warrior Met Coal, Inc. 8.00% 2024 3,850,000 3,984,750
Weatherford International PLC 4.50% 2022 2,640,000 2,436,403
Weatherford International PLC 6.50% 2036 5,615,000 4,421,813
Weatherford International PLC 6.75% 2040 7,755,000 6,184,613
Weatherford International PLC 7.75% 2021 1,710,000 1,765,575
Weatherford International PLC 8.25% 2023 225,000 223,783
Weatherford International PLC 9.875% 2024 905,000 918,285
Weatherford International PLC 9.875% 2025 2,725,000 2,752,250
Western Digital Corp. 4.75% 2026 1,500,000 1,461,563
Whiting Petroleum Corp. 6.625% 2026 2,085,000 2,152,763
Williams Companies, Inc. 4.55% 2024 500,000 502,500
Wind Tre SpA 5.00% 2026 4,875,000 3,888,836
Windstream Holdings, Inc. 7.75% 2020 350,000 315,875
Wyndham Worldwide Corp. 5.375% 2026 1,325,000 1,321,688
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 2,823,000 2,692,436
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 1,400,000 1,310,750
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 7,275,000 7,165,875
Wynn Macau, Ltd. 4.875% 2024 1,005,000 961,986
Zayo Group Holdings, Inc. 5.75% 2027 1,500,000 1,477,500
Zayo Group Holdings, Inc. 6.375% 2025 2,925,000 2,990,813
Zekelman Industries Inc. 9.875% 2023 520,000 570,700
Ziggo Bond Finance BV 5.50% 2027 6,950,000 6,509,370
Ziggo Bond Finance BV 5.875% 2025 950,000 892,421
iHeartCommunications, Inc. 9.00% 2019 1,025,000 781,563
iHeartCommunications, Inc., Term Loan D, (3-month USD-LIBOR + 6.75%) 8.844% 2019 1,725,000 1,321,781
inVentiv Health, Inc. 7.50% 2024 1,340,000 1,410,350
j2 Global, Inc. 6.00% 2025 1,597,000 1,624,948
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
Adelphia Recovery Trust, Series ACC-1 449,306 225 0.00
Adelphia Recovery Trust, Series Arahova 388,601 1,477 0.00
Ascent Resources - Utica, LLC, Class A 6,297,894 1,070,642 0.08
Associated Materials, LLC, 14.00% convertible preferred 2020 4,850 5,892,162 0.42
Associated Materials, LLC, warrants, expire 2023 68,899 0 0.00
CEVA Logistics AG 129,342 2,775,700 0.20
Corporate Risk Holdings Corp. 1,104 0 0.00
Corporate Risk Holdings I, Inc. 218,504 6,692,778 0.48
Cumulus Media Inc., Class A 3,531 59,144 0.00
Cumulus Media Inc., Class B 4,291 71,874 0.01
Frontier Communications Corp., Series A, 11.125% convertible preferred 2018 10,000 98,400 0.01
Liberman Broadcasting, Inc., warrants, expire 2022 1 0 0.00
Ply Gem Parent, LLC, Class B 167 16,744 0.00
Rotech Healthcare Inc. 201,793 403,586 0.03
Teva Pharmaceutical Industries Ltd., 7.00% convertible preferred 2018 1,800 818,100 0.06

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

*
Excludes certain securities in initial period of acquisition.