American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - High-Income Bond Fund

As of March 31, 2019 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACCO Brands Corp. 5.25% 2024 990,000 972,675
ADT Corp. 3.50% 2022 3,355,000 3,245,963
AES Corp. 4.00% 2021 1,000,000 1,015,910
AES Corp. 4.875% 2023 600,000 609,750
AES Corp. 5.50% 2025 4,157,000 4,323,280
AES Corp. 6.00% 2026 2,165,000 2,305,682
AK Steel Holding Corp. 7.00% 2027 450,000 379,260
AK Steel Holding Corp. 7.625% 2021 2,425,000 2,443,188
ARAMARK Corp. 5.125% 2024 2,435,000 2,511,094
Advanced Disposal Services, Inc. 5.625% 2024 1,550,000 1,588,750
Alcatel-Lucent USA Inc. 6.45% 2029 1,800,000 1,768,500
Alliant Holdings Intermediate LLC 8.25% 2023 1,550,000 1,596,500
Allison Transmission Holdings, Inc. 5.00% 2024 4,385,000 4,390,481
Ally Financial Inc. 8.00% 2020 1,540,000 1,613,150
Ally Financial Inc. 8.00% 2031 1,925,000 2,399,031
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.851% 2025 7,325,000 7,070,456
Altice Finco SA 8.125% 2024 505,000 513,838
Altice NV 6.625% 2023 835,000 855,875
Altice NV 7.50% 2026 1,250,000 1,240,625
Altice NV, First Lien, 7.75% 2022 2,025,000 2,030,063
Altice SA 7.625% 2025 1,075,000 946,000
AmeriGas Partners, LP 5.50% 2025 700,000 700,875
AmeriGas Partners, LP 5.75% 2027 450,000 446,625
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 1,850,000 1,801,438
American Energy (Permian Basin) 7.125% 2020 4,445,000 1,733,550
American Energy (Permian Basin) 7.375% 2021 5,270,000 2,055,300
Antero Resources Corp. 5.375% 2024 1,140,000 1,154,592
Antero Resources Corp. 5.75% 2027 1,450,000 1,475,375
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 9.499% 2025 1,825,000 1,847,243
Aqueduct and Sewer Auth., Rev. Bonds, Series 2012-B, 4.90% 2020 95,000 91,556
Ardagh Group SA 7.125% 2023 450,000 450,563
Ardagh Packaging Finance 6.00% 2025 4,830,000 4,842,075
Ascent Resources Marcellus Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 6.50%) 8.993% 2023 1,329,167 1,332,490
Ascent Resources-Utica LLC 10.00% 2022 685,000 753,706
Ascent Resources-Utica LLC 7.00% 2026 1,550,000 1,497,688
Associated Materials, LLC 9.00% 2024 3,800,000 3,752,500
Auris Luxembourg III SARL, Term Loan, (3-month USD-LIBOR + 3.75%) 6.249% 2026 860,000 858,388
Avis Budget Group, Inc. 5.50% 2023 4,300,000 4,348,375
Avolon Holdings Funding Ltd 5.25% 2024 1,875,000 1,935,938
Avon Products, Inc. 7.875% 2022 1,370,000 1,426,513
Axalta Coating Systems LLC 4.875% 2024 1,450,000 1,459,063
B&G Foods, Inc. 4.625% 2021 365,000 365,456
B&G Foods, Inc. 5.25% 2025 5,183,000 4,988,638
BWAY Parent Co. Inc. 5.50% 2024 2,840,000 2,830,202
BWAY Parent Co. Inc. 7.25% 2025 2,725,000 2,638,127
Ball Corp. 4.375% 2020 450,000 457,875
Ball Corp. 5.00% 2022 825,000 858,000
Banff Merger Sub Inc. 9.75% 2026 775,000 753,688
Bausch Health Companies Inc 5.75% 2027 535,000 549,713
Beacon Roofing Supply, Inc. 4.875% 2025 2,550,000 2,432,063
Berry Petroleum Corporation 7.00% 2026 1,050,000 1,044,750
Berry Plastics Corp. 5.50% 2022 820,000 835,375
Blackboard Inc., Term Loan B4, (3-month USD-LIBOR + 5.00%) 7.78% 2021 1,689,554 1,663,507
Blackstone CQP Holdco LP 6.00% 2021 1,600,000 1,600,000
Blackstone CQP Holdco LP 6.50% 2021 16,180,000 16,180,000
Blue Cube Spinco Inc. (Olin Corp.) 10.00% 2025 1,000,000 1,149,050
Blue Racer Midstream LLC and Blue Racer Finance Corp. 6.125% 2022 1,300,000 1,326,000
Bohai Financial Investment Holding Co., Ltd. 4.50% 2023 2,350,000 2,344,125
Bohai Financial Investment Holding Co., Ltd. 5.125% 2023 1,000,000 1,020,000
Bohai Financial Investment Holding Co., Ltd. 5.25% 2022 2,075,000 2,131,855
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 600,000 624,000
Brand Energy 8.50% 2025 2,050,000 1,850,125
Brookfield WEC Holdings Inc., Term Loan, (3-month USD-LIBOR + 6.75%) 9.249% 2026 1,580,000 1,588,393
Builders FirstSource, Inc. 5.625% 2024 7,160,000 7,079,450
CBS Outdoor Americas Inc. 5.25% 2022 400,000 405,500
CCO Holdings LLC and CCO Holdings Capital Corp. 4.00% 2023 3,525,000 3,530,464
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 2,125,000 2,106,406
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2023 2,025,000 2,077,630
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2027 300,000 302,625
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2025 225,000 232,875
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 2026 825,000 853,875
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 6,450,000 6,772,500
CCO Holdings LLC and CCO Holdings Capital Corp. 5.875% 2024 350,000 366,664
CD&R Waterworks Merger Sub, LLC 6.125% 2025 685,000 673,218
CDW Corp. 5.00% 2025 1,150,000 1,183,063
CF Industries, Inc. 4.95% 2043 2,465,000 2,122,981
CIT Group Inc. 4.125% 2021 950,000 964,250
CONSOL Energy Inc. 5.875% 2022 6,466,000 6,482,165
CRC Escrow Issuer LLC 5.25% 2025 1,900,000 1,838,250
CSC Holdings, LLC 5.125% 2021 500,000 501,875
CSC Holdings, LLC 5.50% 2026 1,300,000 1,339,390
CVR Partners, LP 9.25% 2023 700,000 735,875
Cablevision Systems Corp. 5.125% 2021 725,000 727,719
Cablevision Systems Corp. 6.75% 2021 5,025,000 5,383,031
California Resources Corp., Term Loan B, (3-month USD-LIBOR + 4.75%) 7.245% 2022 950,000 935,750
Calpine Corp. 5.25% 2026 3,245,000 3,240,944
Calpine Corp. 5.375% 2023 2,450,000 2,459,188
Calpine Corp. 5.75% 2025 300,000 299,250
Calpine Corp. 5.875% 2024 2,420,000 2,486,550
Calpine Corp. 6.00% 2022 425,000 431,375
Camelot Finance SA 7.875% 2024 7,580,000 8,034,800
Capital Group Central Cash Fund 558,078 55,796,676
Carlyle Group LP 8.75% 2023 1,800,000 1,759,500
Centene Corp. 4.75% 2022 4,580,000 4,671,600
Centene Corp. 4.75% 2025 2,250,000 2,300,625
Centene Corp. 5.375% 2026 2,920,000 3,051,400
Centene Corp. 5.625% 2021 545,000 553,856
Centene Corp. 6.125% 2024 1,500,000 1,573,575
CenturyLink, Inc. 5.625% 2025 1,200,000 1,164,000
CenturyLink, Inc. 6.75% 2023 7,100,000 7,428,375
CenturyLink, Inc. 7.65% 2042 800,000 706,000
CenturyLink, Inc., Series T, 5.80% 2022 700,000 718,375
Charles River Laboratories International, Inc. 5.50% 2026 885,000 920,400
Chemours Co. 6.625% 2023 3,010,000 3,123,146
Cheniere Energy Partners, LP 5.25% 2025 650,000 667,063
Cheniere Energy, Inc. 5.875% 2025 1,600,000 1,744,000
Cheniere Energy, Inc. 7.00% 2024 1,575,000 1,781,798
Chesapeake Energy Corp. 4.875% 2022 4,300,000 4,257,000
Chesapeake Energy Corp. 8.00% 2025 2,150,000 2,203,750
Chesapeake Energy Corp. 8.00% 2027 1,795,000 1,777,050
Chesapeake Energy Corp., convertible notes, 5.50% 2026 775,000 720,048
Churchill Downs Inc. 4.75% 2028 1,375,000 1,314,844
Cirsa Gaming Corporation SA 7.875% 2023 5,585,000 5,791,701
Clear Channel Worldwide Holdings, Inc. 9.25% 2024 3,395,000 3,607,188
Cleveland-Cliffs Inc. 4.875% 2024 5,400,000 5,373,000
Cleveland-Cliffs Inc. 5.75% 2025 11,675,000 11,208,000
Colorado Buyer Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.86% 2025 637,500 583,313
CommScope Finance LLC, 6.00% 2026 875,000 907,261
CommScope Finance LLC, 8.25% 2027 2,040,000 2,121,600
CommScope Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 5.988% 2026 710,000 711,598
CommScope Technologies LLC, 5.00% 2027 950,000 844,721
CommScope Technologies LLC, 5.50% 2024 200,000 196,570
CommScope Technologies LLC, 6.00% 2025 1,000,000 975,950
Communications Sales & Leasing, Inc. 6.00% 2023 450,000 427,635
Communications Sales & Leasing, Inc. 7.125% 2024 400,000 346,000
Community Health Systems Inc. 6.25% 2023 1,025,000 966,063
Compass Diversified Holdings 8.00% 2026 5,710,000 5,949,106
Comstock Resources, Inc. 9.75% 2026 3,875,000 3,584,375
Concordia International Corp. 8.00% 2024 257,000 242,865
Concordia International Corp., Term Loan, (3-month USD-LIBOR + 5.50%) 7.993% 2024 703,890 667,155
Consolidated Energy Finance SA 6.50% 2026 2,395,000 2,395,000
Consolidated Energy Finance SA 6.875% 2025 950,000 961,875
Constellium NV 5.875% 2026 1,450,000 1,427,344
Continental Airlines, Inc., Series 2000-1, Class B, 8.388% 2022 38 40
Convey Park Energy LLC 7.50% 2025 1,450,000 1,351,690
Cott Beverages Inc. 5.50% 2025 2,470,000 2,500,875
Covanta Holding Corp. 5.875% 2024 1,200,000 1,233,000
Covanta Holding Corp. 5.875% 2025 1,300,000 1,327,625
Credit Acceptance Corp. 6.625% 2026 685,000 696,988
Cumulus Media New Holdings Inc., Term Loan, (3-month USD-LIBOR + 4.50%) 7% 2022 2,162,511 2,129,736
DAE Aviation Holdings, Inc. 10.00% 2023 7,790,000 8,374,250
DCP Midstream Operating LP 4.95% 2022 1,880,000 1,929,350
DISH DBS Corp. 5.125% 2020 1,000,000 1,008,750
DISH DBS Corp. 6.75% 2021 1,100,000 1,136,850
DISH DBS Corp., convertible notes, 3.375% 2026 1,010,000 860,520
DaVita HealthCare Partners Inc. 5.00% 2025 1,665,000 1,601,730
DaVita HealthCare Partners Inc. 5.125% 2024 1,000,000 990,000
Darling Ingredients Inc. 5.25% 2027 380,000 386,413
Darling Ingredients Inc. 5.375% 2022 1,000,000 1,018,750
Deck Chassis Acquisition Inc. 10.00% 2023 6,615,000 7,020,169
Dell Inc. 7.125% 2024 2,000,000 2,120,810
Denbury Resources Inc. 7.50% 2024 1,040,000 893,100
Denbury Resources Inc. 9.00% 2021 1,556,000 1,520,990
Diamond Offshore Drilling, Inc. 4.875% 2043 2,760,000 1,759,500
Diamond Offshore Drilling, Inc. 7.875% 2025 2,325,000 2,255,250
Diebold Nixdorf AG, Term Loan A1, (3-month USD-LIBOR + 9.25%) 11.75% 2022 2,304,965 2,453,347
Diebold Nixdorf AG, Term Loan B, (3-month USD-LIBOR + 2.75%) 5.25% 2023 808,430 759,924
Dynegy Finance Inc. 7.375% 2022 1,569,000 1,631,760
Dynegy Finance Inc. 7.625% 2024 754,000 799,255
Eagle Holding Co II LLC 7.625% 2022 1,250,000 1,264,063
Ellucian, Inc. 9.00% 2023 450,000 469,125
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026) 2,475,000 2,645,713
Endo International PLC 5.75% 2022 3,525,000 3,361,969
Endo International PLC 5.875% 2024 2,450,000 2,416,313
Endo International PLC 6.00% 2023 3,404,000 2,638,100
Endo International PLC 6.00% 2025 2,005,000 1,463,650
Enel Società per Azioni 8.75% 2073 2,000,000 2,202,400
Energizer Holdings, Inc 7.75% 2027 1,210,000 1,293,188
Energizer Holdings, Inc. 6.375% 2026 1,530,000 1,572,075
Energizer SpinCo Inc. 5.50% 2025 625,000 621,094
Energy Transfer Operating L.P. 4.25% 2023 750,000 770,972
Energy Transfer Operating L.P. 5.50% 2027 750,000 815,157
Energy Transfer Operating L.P. 5.875% 2024 1,450,000 1,588,427
Ensco PLC 7.75% 2026 2,975,000 2,525,031
Ensco PLC, 5.75% 2044 3,170,000 2,052,575
Envision Healthcare Corp. 8.75% 2026 1,330,000 1,188,688
Equinix, Inc. 5.375% 2027 1,000,000 1,050,000
Equinix, Inc. 5.75% 2025 200,000 208,125
Equinix, Inc. 5.875% 2026 575,000 607,171
Euramax International, Inc. 12.00% 2020 1,850,000 1,884,688
Euronet Worldwide, convertible notes, 0.75% 2049 515,000 556,008
Extraction Oil & Gas, Inc. 5.625% 2026 2,090,000 1,614,525
Extraction Oil & Gas, Inc. 7.375% 2024 100,000 84,000
FRONTIER COMMUNICATIONS CORP 8.0% 03-31-27 2,685,000 2,778,975
FS Energy and Power Fund 7.50% 2023 5,365,000 5,515,891
FXI Holdings, Inc. 7.875% 2024 2,670,000 2,489,775
Fertitta Entertainment, Inc. 6.75% 2024 1,500,000 1,511,250
Fertitta Entertainment, Inc. 8.75% 2025 1,325,000 1,394,563
Financial & Risk US Holdings, Inc. 6.25% 2026 2,186,000 2,221,523
Financial & Risk US Holdings, Inc. 8.25% 2026 1,475,000 1,451,031
Financial & Risk US Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 6.249% 2025 748,125 727,162
First Data Corp. 5.00% 2024 1,700,000 1,741,863
First Data Corp. 5.375% 2023 100,000 102,438
First Data Corp. 5.75% 2024 2,525,000 2,605,800
First Quality Enterprises, Inc. 5.00% 2025 1,995,000 1,945,185
First Quantum Minerals Ltd. 6.50% 2024 2,160,000 2,038,500
First Quantum Minerals Ltd. 6.875% 2026 5,100,000 4,749,375
First Quantum Minerals Ltd. 7.00% 2021 688,000 700,900
First Quantum Minerals Ltd. 7.25% 2022 3,025,000 3,055,250
First Quantum Minerals Ltd. 7.25% 2023 8,150,000 7,987,000
First Quantum Minerals Ltd. 7.50% 2025 10,700,000 10,325,500
Five Point Holdings LLC 7.875% 2025 1,350,000 1,296,000
Fortive Corp., convertible notes 0.875% 2022 1,000,000 1,053,556
Freeport-McMoRan Inc. 3.55% 2022 5,015,000 4,971,119
Freeport-McMoRan Inc. 6.875% 2023 1,000,000 1,063,750
Frontier Communications Corp. 10.50% 2022 8,540,000 6,554,450
Frontier Communications Corp. 11.00% 2025 15,120,000 10,038,470
Frontier Communications Corp. 8.50% 2026 4,550,000 4,237,188
Frontier Communications Corp. 9.25% 2021 1,300,000 1,111,622
General Motors Acceptance Corp. 7.50% 2020 1,920,000 2,040,000
Genesis Energy, LP 6.50% 2025 2,490,000 2,433,975
Genesis Energy, LP 6.75% 2022 3,075,000 3,159,563
Genesys Telecommunications Laboratories, Inc. 10.00% 2024 4,795,000 5,238,538
Getty Images Inc. 9.75% 2027 1,225,000 1,235,719
Getty Images Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 7% 2026 1,770,563 1,764,144
Gogo Inc. 12.50% 2022 13,925,000 15,073,813
Gogo Inc., convertible notes 3.75% 2020 238,087 232,163
Gogo Inc., convertible notes, 6.00% 2022 2,140,000 2,082,584
Goodyear Tire & Rubber Co. 4.875% 2027 750,000 688,125
Gray Television, Inc. 7.00% 2027 2,100,000 2,236,500
Greif, Inc. 6.50% 2027 725,000 743,125
H.I.G. Capital, LLC 6.75% 2024 4,284,000 4,048,380
HCA Inc 5.375% 2026 1,175,000 1,239,625
HCA Inc. 4.50% 2027 350,000 360,282
HCA Inc. 5.50% 2047 1,375,000 1,469,435
HCA Inc. 5.625% 2028 2,350,000 2,491,000
HCA Inc. 5.875% 2023 1,925,000 2,057,344
HCA Inc. 5.875% 2026 1,150,000 1,244,875
HCA Inc. 6.50% 2020 800,000 823,538
HCA Inc. 7.50% 2022 360,000 397,908
HD Supply, Inc. 5.375% 2026 1,125,000 1,153,125
HDTFS Inc. 5.875% 2020 2,650,000 2,652,650
HUB International Ltd. 7.00% 2026 6,355,000 6,307,338
Hanesbrands Inc. 4.625% 2024 2,680,000 2,700,636
Hanesbrands Inc. 4.875% 2026 1,595,000 1,581,602
Hardwoods Acquisition Inc. 7.50% 2021 1,810,000 1,131,250
HealthSouth Corp. 5.75% 2024 1,275,000 1,295,719
HealthSouth Corp. 5.75% 2025 1,380,000 1,409,325
Hertz Global Holdings Inc. 7.625% 2022 5,669,000 5,816,394
Hexion Inc. 10.375% 2022 1,275,000 1,074,188
Hexion Inc. 6.625% 2020 1,150,000 963,125
Howard Hughes Corp. 5.375% 2025 6,070,000 6,070,000
IMS Health Holdings, Inc. 5.00% 2026 2,550,000 2,618,544
INEOS Group Holdings SA 5.625% 2024 2,375,000 2,380,938
Icahn Enterprises Finance Corp. 6.25% 2022 2,800,000 2,879,380
Indigo Natural Resources LLC 6.875% 2026 885,000 787,650
Infor (US), Inc. 6.50% 2022 6,100,000 6,206,750
Infor Software 7.125% 2021 6,935,000 6,979,107
Informatica Corp. 7.125% 2023 1,425,000 1,458,844
Inmarsat PLC 4.875% 2022 5,300,000 5,407,060
Inmarsat PLC 6.50% 2024 500,000 526,250
Intelsat Jackson Holding Co. 5.50% 2023 4,125,000 3,681,563
Intelsat Jackson Holding Co. 6.625% 2024 1,900,000 1,900,792
Intelsat Jackson Holding Co. 8.00% 2024 250,000 261,250
Intelsat Jackson Holding Co. 8.50% 2024 5,675,000 5,547,313
International Game Technology 6.25% 2027 375,000 385,078
International Game Technology 6.50% 2025 1,225,000 1,280,125
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 7.50%) 9.986% 2025 3,075,000 3,036,563
Iron Mountain Inc. 4.875% 2027 1,485,000 1,433,025
Iron Mountain Inc. 5.25% 2028 2,245,000 2,188,875
Iron Mountain Inc. 5.75% 2024 4,800,000 4,860,000
JELD-WEN Holding, Inc. 4.875% 2027 1,700,000 1,606,500
Jaguar Holding Co. 6.375% 2023 2,625,000 2,680,781
Jonah Energy LLC 7.25% 2025 4,000,000 2,140,000
KAR Auction Services, Inc. 5.125% 2025 2,035,000 2,022,281
Kcad Holdings I Ltd. 7.25% 2021 1,220,000 1,055,300
Kcad Holdings I Ltd. 9.625% 2023 320,000 269,200
Kinetic Concepts, Inc. 12.50% 2021 7,628,000 8,276,380
Kinetic Concepts, Inc. 7.875% 2021 2,626,000 2,691,571
Kratos Defense & Security Solutions, Inc. 6.50% 2025 1,810,000 1,911,813
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 10.986% 2024 8,645,000 8,794,740
LSB Industries, Inc. 9.625% 2023 3,625,000 3,770,725
LSC Communications, Inc. 8.75% 2023 8,435,000 8,962,188
Lamb Weston Holdings, Inc. 4.625% 2024 850,000 860,625
Laredo Petroleum, Inc. 5.625% 2022 650,000 597,188
Levi Strauss & Co. 5.00% 2025 1,280,000 1,324,800
Liberty Global PLC 5.50% 2028 975,000 975,000
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 11.357% 2020 6,299,790 4,667,092
Limited Brands, Inc. 5.25% 2028 745,000 664,913
Limited Brands, Inc. 6.625% 2021 750,000 791,250
Limited Brands, Inc. 6.875% 2035 120,000 104,250
Live Nation Entertainment, Inc. 5.625% 2026 425,000 439,875
MDC Partners Inc. 6.50% 2024 7,980,000 6,643,350
MGM Growth Properties LLC 5.625% 2024 200,000 209,750
MGM RESORTS INTERNATIONAL 5.5% 04-15-27 1,255,000 1,276,963
MGM Resorts International 6.00% 2023 820,000 867,150
MGM Resorts International 7.75% 2022 1,500,000 1,661,250
Mallinckrodt PLC 4.875% 2020 4,600,000 4,600,000
Matador Resources Co. 5.875% 2026 1,550,000 1,553,875
Match Group, Inc. 6.375% 2024 1,050,000 1,107,750
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 3.75%) 6.249% 2024 1,368,999 1,368,144
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 8.50%) 10.999% 2025 802,083 812,109
McDermott International, Inc. 10.625% 2024 3,025,000 2,525,875
McDermott International, Term Loan B, (3-month USD-LIBOR + 5.00%) 7.499% 2025 497,487 477,837
McGraw-Hill Global Education Holdings, LLC, Term Loan B, (3-month USD-LIBOR + 4.00%) 6.499% 2022 1,292,081 1,190,868
Medical Properties Trust, Inc. 5.00% 2027 2,020,000 2,060,400
Meredith Corp. 6.875% 2026 7,765,000 8,211,488
Meritage Homes Corp. 5.125% 2027 1,300,000 1,263,860
Merlin Entertainment 5.75% 2026 1,200,000 1,240,500
Mitchell International, Inc., Term Loan B, (3-month USD-LIBOR + 7.25%) 9.749% 2025 1,150,000 1,121,250
Molina Healthcare, Inc. 4.875% 2025 2,919,000 2,897,108
Molina Healthcare, Inc. 5.375% 2022 10,860,000 11,314,600
Multi-Color Corp. 4.875% 2025 3,855,000 3,989,925
Multiplan, Inc. 7.125% 2024 755,000 755,000
Multiplan, Inc. 8.50% 2022 750,000 742,688
Murphy Oil Corp. 5.75% 2025 1,690,000 1,746,713
Murphy Oil Corp. 6.875% 2024 1,000,000 1,059,355
NGL Energy Partners LP 6.125% 2025 4,465,000 4,331,050
NGL Energy Partners LP 7.50% 2023 250,000 259,900
NMG Finco PLC 5.75% 2022 1,780,000 1,695,450
NRG Energy, Inc. 6.625% 2027 300,000 324,000
NRG Energy, Inc. 7.25% 2026 500,000 551,970
NVA Holdings Inc. 6.875% 2026 2,175,000 2,161,406
Nabors Industries Inc. 5.75% 2025 1,300,000 1,171,599
Navient Corp. 5.50% 2023 4,060,000 4,080,300
Navient Corp. 6.125% 2024 500,000 501,875
Navient Corp. 6.50% 2022 4,240,000 4,429,477
Navistar International Corp. 6.625% 2025 970,000 990,613
Neiman Marcus Group Ltd. Inc. 8.00% 2021 4,635,000 2,479,725
Neiman Marcus Group Ltd. Inc. 8.75% 2021 4,080,000 2,162,400
Neiman Marcus Group Ltd. Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 5.733% 2020 1,838,193 1,712,200
Neon Holdings, Inc. 10.125% 2026 3,555,000 3,634,988
Neptune Finco Corp. (Altice NV) 6.625% 2025 1,250,000 1,328,125
Nexstar Broadcasting, Inc. 5.625% 2024 750,000 763,125
Noble Corp. PLC 7.95% 2025 1,425,000 1,239,750
Noble Corp. PLC 8.95% 2045 2,250,000 1,766,250
Nova Chemicals Corp. 4.875% 2024 1,675,000 1,651,969
Nova Chemicals Corp. 5.25% 2027 5,650,000 5,565,250
Novelis Corp. 5.875% 2026 2,795,000 2,788,013
Novelis Corp. 6.25% 2024 860,000 881,500
Numericable Group SA 7.375% 2026 2,400,000 2,358,000
ONEOK, Inc. 7.50% 2023 1,250,000 1,448,054
Oasis Petroleum Inc. 6.25% 2026 1,360,000 1,298,800
Oasis Petroleum Inc. 6.875% 2022 1,500,000 1,518,750
Olin Corp. 5.00% 2030 1,000,000 983,750
Olin Corp. 5.125% 2027 300,000 304,875
Owens & Minor, Inc. 3.875% 2021 2,575,000 2,060,000
Owens & Minor, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 6.989% 2025 1,741,250 1,329,880
Owens-Illinois, Inc. 5.00% 2022 560,000 576,100
Owens-Illinois, Inc. 5.875% 2023 2,530,000 2,659,410
Owens-Illinois, Inc. 6.375% 2025 705,000 742,013
PAREXEL International Corp. 6.375% 2025 2,305,000 2,253,138
PDC Energy Inc. 5.75% 2026 1,600,000 1,568,000
Pacific Drilling SA 8.375% 2023 845,000 859,940
Panther BF Aggregator 2 , LP 8.50% 2027 2,675,000 2,688,375
Panther BF Aggregator 2, LP 6.25% 2026 1,655,000 1,692,238
Par Pharmaceutial Companies Inc. 7.5% 2027 5,325,000 5,411,531
Peabody Energy Corp. 6.00% 2022 1,300,000 1,314,625
Peabody Energy Corp. 6.375% 2025 100,000 97,650
Petsmart, Inc. 5.875% 2025 15,240,000 12,839,700
Petsmart, Inc. 7.125% 2023 8,140,000 6,105,000
Petsmart, Inc. 8.875% 2025 4,835,000 3,638,338
Petsmart, Inc., Term Loan B-2, (3-month USD-LIBOR + 3.00%) 5.49% 2022 5,556,443 4,997,326
Pisces Parent LLC 8.00% 2026 5,595,000 5,045,403
Pisces Parent LLC, Term Loan B, (3-month USD-LIBOR + 3.75%) 6.547% 2025 2,224,444 2,135,466
Plastipak Holdings, Inc. 6.25% 2025 200,000 188,000
Platform Specialty Products Corp. 5.875% 2025 2,430,000 2,447,861
Post Holdings, Inc. 5.00% 2026 2,865,000 2,796,956
Post Holdings, Inc. 5.625% 2028 2,230,000 2,221,638
Post Holdings, Inc. 8.00% 2025 1,550,000 1,662,375
Prestige Brands International Inc. 5.375% 2021 150,000 151,688
Prestige Brands International Inc. 6.375% 2024 1,115,000 1,140,088
PrimeSource Building Products Inc 9.00% 2023 650,000 649,188
QEP Resources, Inc. 5.625% 2026 1,155,000 1,051,050
QGOG Constellation SA 9.50% 2024 6,144,254 2,304,095
Qorvo, Inc. 5.50% 2026 1,875,000 1,940,813
Quintiles Transnational Corp. 4.875% 2023 3,200,000 3,272,320
R.R. Donnelley & Sons Co. 6.50% 2023 1,375,000 1,412,813
R.R. Donnelley & Sons Co. 7.875% 2021 742,000 765,188
R.R. Donnelley & Sons Co., Term Loan B, (3-month USD-LIBOR + 5.00%) 7.499% 2024 1,346,625 1,347,045
Range Resources Corp. 4.875% 2025 975,000 909,188
Range Resources Corp. 5.00% 2023 425,000 418,094
Rayonier Advanced Materials Inc. 5.50% 2024 1,210,000 1,140,425
Realogy Corp. 4.875% 2023 2,195,000 2,052,325
Realogy Corp. 9.375% 2027 3,245,000 3,330,181
Rexnord Corp. 4.875% 2025 2,610,000 2,590,425
Reynolds Group Inc. 5.75% 2020 314,960 315,747
Reynolds Group Inc. 7.00% 2024 3,650,000 3,766,800
Rotech Healthcare Inc., Term Loan A, (3-month USD-LIBOR + 3.25%) 0% 2023 2,281,406 2,281,406
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.797% 2023 7,651,476 7,378,663
Ryerson Inc. 11.00% 2022 7,186,000 7,599,195
S.P.C.M SA 4.875% 2025 1,675,000 1,644,096
SBA Communications Corp. 4.00% 2022 1,010,000 1,018,686
SBA Communications Corp. 4.875% 2022 700,000 711,375
SM Energy Co. 5.625% 2025 1,555,000 1,445,590
SM Energy Co. 6.125% 2022 761,000 764,805
SM Energy Co. 6.625% 2027 850,000 811,750
SS&C Technologies Holdings Inc. 5.5% 2027 1,175,000 1,188,953
Sally Holdings LLC and Sally Capital Inc. 5.50% 2023 1,770,000 1,784,381
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 5,830,000 5,815,425
Sanchez Energy Corp. 7.25% 2023 825,000 668,250
Scientific Games Corp. 8.25% 2026 5,610,000 5,736,225
Scientific Games Corp. 10.00% 2022 2,112,000 2,230,800
Scientific Games Corp. 5.00% 2025 3,090,000 3,035,925
Scientific Games Corp. 6.25% 2020 1,245,000 1,251,225
Scientific Games Corp. 6.625% 2021 175,000 177,625
Scotts Miracle-Gro Co. 5.25% 2026 750,000 740,625
Sealed Air Corp. 4.875% 2022 1,000,000 1,035,740
Sealed Air Corp. 5.25% 2023 405,000 422,213
Sensata Technologies Holding BV 4.875% 2023 125,000 129,219
ServiceMaster Global Holdings, Inc. 5.125% 2024 1,300,000 1,308,125
Seven Generations Energy Ltd. 5.375% 2025 1,175,000 1,152,969
Sirius XM Radio Inc 4.625% 2023 900,000 914,625
Sirius XM Radio Inc. 3.875% 2022 2,650,000 2,643,375
Six Flags Entertainment Corp. 4.875% 2024 4,150,000 4,095,531
Solenis International, L.P., Term Loan, (3-month USD-LIBOR + 4.00%) 6.629% 2025 478,794 472,061
Solenis International, LP, Term Loan, (3-month USD-LIBOR + 8.50%) 11.129% 2024 1,340,000 1,286,400
Solera Holdings, Inc. 10.50% 2024 1,100,000 1,197,812
Sotheby's 4.875% 2025 5,495,000 5,364,494
Southern California Edison Co. 4.875% 2049 685,000 727,876
Southwestern Energy Co. 6.20% 2025 750,000 740,625
Southwestern Energy Co. 7.50% 2026 3,145,000 3,223,625
Southwestern Energy Co. 7.75% 2027 475,000 487,469
Spectrum Brands Inc. 5.75% 2025 800,000 810,000
Springleaf Finance Corp. 6.125% 2024 2,400,000 2,459,952
Springleaf Finance Corp. 8.25% 2020 450,000 484,313
Sprint Corp. 11.50% 2021 7,130,000 8,288,625
Sprint Corp. 6.875% 2028 2,700,000 2,602,125
Sprint Corp. 7.25% 2021 1,240,000 1,305,100
Sprint Corp. 7.875% 2023 1,855,000 1,952,388
Sprint Corp. 8.75% 2032 1,025,000 1,084,040
Standard Aero Holdings, Inc., Term Loan B, 6.25% 2022 744,216 744,681
Standard Industries Inc. 6.00% 2025 550,000 578,650
Staples Inc. 8.50% 2025 990,000 1,084,050
Starfruit US Holdco LLC 8.00% 2026 2,530,000 2,561,625
Starfruit US Holdco LLC. Term Loan B, (3-month USD-LIBOR + 3.25%) 5.74% 2025 575,000 567,813
Stars Group Holdings BV, 7.00% 2026 700,000 731,500
Starwood Property Trust, Inc. 5.00% 2021 1,710,000 1,761,300
Sterigenics-Nordion Holdings, LLC 6.50% 2023 170,000 171,700
Summit Materials, Inc. 6.125% 2023 1,720,000 1,764,462
Summit Materials, Inc. 6.5% 03-15-27 1,035,000 1,045,350
Sunoco LP 4.875% 2023 3,625,000 3,691,700
Sunoco LP 5.50% 2026 825,000 818,813
Sunoco LP 6.0% 2027 500,000 502,500
Surgery Center Holdings 10.0% 2027 900,000 915,750
T-Mobile US, Inc. 6.375% 2025 2,150,000 2,244,170
T-Mobile US, Inc. 6.50% 2026 900,000 963,000
TEX Operations Co. LLC, Term Loan B, (3-month USD-LIBOR + 2.00%) 4.499% 2023 870,547 862,277
TPC Group Inc., 8.75% 2020 345,000 341,550
Talen Energy Corp. 10.50% 2026 3,900,000 4,083,300
Talen Energy Corp. 4.60% 2021 177,000 172,133
Talen Energy Corp. 6.50% 2025 675,000 597,375
Talen Energy Corp. 9.50% 2022 4,335,000 4,681,800
Tallgrass Energy Partners, LP 5.50% 2024 1,000,000 1,030,000
Tapstone Energy Inc. 9.75% 2022 555,000 405,150
Targa Resources Corp. 5.875% 2026 125,000 132,750
Targa Resources Partners LP 6.50% 2027 1,560,000 1,686,750
Targa Resources Partners LP 6.75% 2024 375,000 394,219
Targa Resources Partners LP 6.875% 2029 1,340,000 1,462,275
Team Health Holdings, Inc. 6.375% 2025 2,230,000 1,820,238
Teekay Corp. 8.50% 2020 10,418,000 10,522,180
Teekay Offshore Partners LP 8.50% 2023 3,250,000 3,201,250
Tempo Acquisition LLC 6.75% 2025 1,650,000 1,670,625
Tenet Healthcare Corp. 4.375% 2021 5,755,000 5,883,912
Tenet Healthcare Corp. 4.50% 2021 905,000 923,100
Tenet Healthcare Corp. 4.625% 2024 3,942,000 3,966,638
Tenet Healthcare Corp. 4.75% 2020 2,310,000 2,347,538
Tenet Healthcare Corp. 5.125% 2025 450,000 453,398
Tenet Healthcare Corp. 6.75% 2023 995,000 1,028,581
Tenet Healthcare Corp. 8.125% 2022 4,050,000 4,372,380
Tenet Healthcare Corp., 6.00% 2020 4,315,000 4,482,206
Teva Pharmaceutical Finance Co. BV 2.80% 2023 3,368,000 3,008,109
Teva Pharmaceutical Finance Co. BV 3.15% 2026 2,260,000 1,849,948
Teva Pharmaceutical Finance Co. BV 6.00% 2024 5,152,000 5,174,689
Teva Pharmaceutical Finance Company BV 6.75% 2028 2,050,000 2,070,108
Teva Pharmaceutical Finance Company BV, Series C, convertible bonds, 0.25% 2026 1,375,000 1,274,518
The Dun & Bradstreet Corp. 10.25% 2027 4,473,000 4,607,190
The Dun & Bradstreet Corp. 6.875% 2026 3,340,000 3,421,413
The Dun & Bradstreet Corp. Term Loan B, (3-month USD-LIBOR + 5.00%) 7.49% 2026 2,570,000 2,551,797
TransDigm Inc. 6.25% 2026 2,100,000 2,184,000
Transocean Guardian Ltd. 5.875% 2024 1,762,425 1,797,674
Transocean Inc. 6.125% 2025 3,392,550 3,451,920
Transocean Inc. 7.50% 2026 350,000 347,375
Transocean Inc. 7.75% 2024 1,000,000 1,057,500
Transocean Inc. 8.375% 2021 2,705,000 2,860,538
Transocean Inc. 9.00% 2023 2,841,000 3,039,870
Transocean Poseidon Ltd. 6.875% 2027 1,215,000 1,266,638
TreeHouse Foods, Inc. 6.00% 2024 1,800,000 1,874,250
Trilogy International Partners, LLC 8.875% 2022 3,950,000 3,841,375
Tronox Ltd. 5.75% 2025 2,100,000 1,955,625
Tronox Ltd. 6.50% 2026 3,200,000 3,066,080
USA Compression Partners, LP 6.875% 2026 400,000 411,000
USA Compression Partners, LP 6.875% 2027 2,150,000 2,195,688
Uber Technologies, Inc. 7.50% 2023 4,225,000 4,415,125
Uber Technologies, Inc. 8.00% 2026 6,100,000 6,511,750
Ultra Petroleum Corp. 11.00% 2024 4,050,000 2,409,750
Unisys Corp. 10.75% 2022 6,600,000 7,301,250
United Continental Holdings, Inc. 6.00% 2020 400,000 415,500
United Rentals, Inc. 4.625% 2025 1,630,000 1,613,700
United Rentals, Inc. 5.75% 2024 1,250,000 1,289,063
United States Steel Corp. 6.875% 2025 650,000 638,625
Univision Communications Inc. 5.125% 2023 3,650,000 3,485,750
Univision Communications Inc. 5.125% 2025 3,725,000 3,487,531
Valeant Pharmaceuticals International, Inc. 5.625% 2021 1,175,000 1,175,353
Valeant Pharmaceuticals International, Inc. 5.875% 2023 9,235,000 9,361,981
Valeant Pharmaceuticals International, Inc. 6.125% 2025 12,855,000 12,758,588
Valeant Pharmaceuticals International, Inc. 8.50% 2027 850,000 903,125
Valeant Pharmaceuticals International, Inc. 9.00% 2025 2,290,000 2,496,215
Valeant Pharmaceuticals International, Inc. 9.25% 2026 5,345,000 5,862,396
Valeant Pharmaceuticals International, Inc., Term Loan B, (3-month USD-LIBOR + 3.00%) 5.481% 2025 993,678 987,737
Venator Materials Corp. 5.75% 2025 5,625,000 4,964,063
VeriSign, Inc. 4.625% 2023 650,000 660,563
VeriSign, Inc. 5.25% 2025 200,000 210,250
Veritas Holdings Ltd. 7.50% 2023 2,505,000 2,404,800
Vertafore Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.749% 2026 1,500,000 1,486,407
ViaSat, Inc. 5.625 2027 1,110,000 1,132,322
Vine Oil & Gas LP 8.75% 2023 2,450,000 1,960,000
Vine Oil & Gas LP 9.75% 2023 1,550,000 1,286,500
Virgin Australia Holdings Ltd. 7.875% 2021 1,600,000 1,636,000
Virgin Australia Holdings Ltd. 8.50% 2019 1,875,000 1,919,531
Vodafone Group PLC 7.00% 2079 (5YR USD SWAP + 4.873% on 04/04/2029) 1,025,000 1,043,657
W&T Offshore, Inc. 9.75% 2023 1,075,000 1,076,344
WPX Energy Inc. 5.75% 2026 890,000 906,688
WPX Energy Inc. 6.00% 2022 516,000 537,930
Warner Music Group 4.875% 2024 1,000,000 1,017,500
Warner Music Group 5.00% 2023 1,200,000 1,225,500
Warner Music Group 5.50% 2026 1,000,000 1,028,750
Warner Music Group 5.625% 2022 1,887,000 1,912,946
Warrior Met Coal, Inc. 8.00% 2024 1,489,000 1,556,005
Weatherford International PLC 4.50% 2022 1,890,000 1,332,450
Weatherford International PLC 6.50% 2036 5,615,000 3,200,550
Weatherford International PLC 6.75% 2040 5,355,000 3,038,963
Weatherford International PLC 8.25% 2023 225,000 160,313
Weatherford International PLC 9.875% 2024 2,725,000 1,975,625
Weatherford International PLC 9.875% 2025 2,725,000 1,941,563
Weatherford International PLC, convertible notes, 5.875% 2021 650,000 528,109
WellCare Health Plans, Inc. 5.375% 2026 500,000 524,375
Whiting Petroleum Corp. 6.625% 2026 1,175,000 1,157,375
Whiting Petroleum Corp., convertible notes, 1.25% 2020 600,000 581,497
William Carter Co. 5.625% 2027 1,100,000 1,141,250
Wind Tre SpA 5.00% 2026 5,100,000 4,666,500
Wyndham Worldwide Corp. 5.375% 2026 1,000,000 1,020,000
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 2,823,000 2,784,184
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 2,700,000 2,558,250
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 1,400,000 1,386,000
Zayo Group Holdings, Inc. 5.75% 2027 200,000 200,060
Zayo Group Holdings, Inc. 6.00% 2023 900,000 915,750
Zayo Group Holdings, Inc. 6.375% 2025 900,000 907,875
Zekelman Industries Inc. 9.875% 2023 820,000 873,813
Ziggo Bond Finance BV 5.50% 2027 4,942,000 4,904,935
Ziggo Bond Finance BV 5.875% 2025 950,000 940,500
iHeartCommunications, Inc. 9.00% 2019 1,025,000 732,875
iHeartCommunications, Inc., Term Loan D, (3-month USD-LIBOR + 6.75%) 11.351% 2019 1,100,000 787,875
iStar Financial Inc. 6.50% 2021 700,000 715,750
inVentiv Health, Inc. 7.50% 2024 3,040,000 3,214,800
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
Advanz Pharma Corp. 80,350 1,396,483 0.11
Advanz Pharma Corp. 29,684 515,908 0.04
American Electric Power Co., Inc. 6.125% convertible preferred 2022 4,700 241,815 0.02
Ascent Resources - Utica, LLC, Class A 6,297,894 1,385,537 0.11
Associated Materials, LLC, 14.00% convertible preferred 2020 4,850 4,833,850 0.37
Associated Materials, LLC, warrants, expire 2023 68,899 0 0.00
CEVA Logistics AG 129,342 3,890,327 0.30
Corporate Risk Holdings Corp. 1,104 22 0.00
Corporate Risk Holdings I, Inc. 218,504 25,631 0.00
Cumulus Media Inc., Class A 3,531 63,593 0.00
Cumulus Media Inc., Class B 4,291 77,281 0.01
Danaher Corp., Series A, 4.75% cumulative convertible preferred 2022 584 614,946 0.05
Frontier Communications Corp. 13,333 26,533 0.00
Liberman Broadcasting, Inc., warrants, expire 2022 1 0 0.00
NCI Building Systems, Inc. 1,541 8,923 0.00
Rotech Healthcare Inc. 201,793 1,210,758 0.09
Tribune Resources, Inc. 1,006,339 2,817,749 0.22
Tribune Resources, Inc., Class A, warrants, expire 2023 336,564 82,357 0.01
Tribune Resources, Inc., Class B, warrants, expire 2023 261,772 47,485 0.00
Tribune Resources, Inc., Class C, warrants, expire 2023 247,225 34,760 0.00
Ultra Petroleum Corp., warrants, expire 2025 80,710 12,107 0.00

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.