American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - High-Income Bond Fund

As of March 31, 2018 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACCO Brands Corp. 5.25% 2024 1,190,000 1,198,925
AES Corp. 4.00% 2021 2,425,000 2,440,156
AES Corp. 4.875% 2023 600,000 613,500
AES Corp. 5.125% 2027 1,515,000 1,545,300
AES Corp. 5.50% 2025 3,382,000 3,513,053
AES Corp. 6.00% 2026 4,190,000 4,430,925
AES Corp. 7.75% 2024 700,000 735,217
AI Entertainment Holdings LLC, Term Loan, (3-month USD-LIBOR + 2.25%) 4.127% 2023 450,000 452,313
AK Steel Holding Corp. 7.625% 2021 2,000,000 2,060,000
APX Group, Inc. 7.625% 2023 935,000 972,400
APX Group, Inc. 8.75% 2020 3,110,000 3,133,325
ARAMARK Corp. 5.00% 2028 1,635,000 1,604,344
ARAMARK Corp. 5.125% 2024 2,685,000 2,745,413
ARD Securities Finance S.a r.l. 8.75% 2023 1,290,000 1,354,500
Acrisure LLC 7.00% 2025 1,545,000 1,487,063
Aker BP ASA 5.875% 2025 2,150,000 2,182,250
Alcatel-Lucent USA Inc. 6.45% 2029 1,800,000 1,836,000
Aleris International, Inc. 7.875% 2020 3,135,000 3,103,650
Allison Transmission Holdings, Inc. 5.00% 2024 3,190,000 3,170,063
Ally Financial Inc. 8.00% 2020 1,915,000 2,063,413
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.234% 2025 4,375,000 4,345,377
Almonde Inc., Term Loan-B, (3-month USD-LIBOR + 3.50%) 5.484% 2024 696,500 696,742
Altice NV 5.50% 2026 1,300,000 1,270,750
Altice NV 6.625% 2023 835,000 828,738
Altice NV 7.50% 2026 1,250,000 1,228,125
AmeriGas Partners, LP 5.50% 2025 3,875,000 3,758,750
AmeriGas Partners, LP 5.75% 2027 975,000 937,219
American Axle & Manufacturing Holdings, Inc. 6.25% 2025 495,000 495,619
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 2,775,000 2,785,406
American Energy (Marcellus), Term Loan A, (3-month USD-LIBOR + 6.50%) 0% 2021 5,601,169 200,707
American Energy (Marcellus), Term Loan B, (3-month USD-LIBOR + 3.25%) 0% 2020 7,532,891 4,237,251
American Energy (Permian Basin), 7.125% 2020 7,445,000 5,546,525
American Energy (Permian Basin), 7.375% 2021 6,770,000 5,043,650
American Midstream Partners, LP, 8.50% 2021 1,675,000 1,695,938
Antero Resources Corp. 5.375% 2024 2,045,000 2,070,563
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 0% 2025 1,925,000 1,994,781
ArcelorMittal 6.125% 2025 500,000 546,250
Ardagh Group SA 7.125% 2023 450,000 467,438
Ardagh Packaging Finance 6.00% 2025 2,080,000 2,095,600
Argentine Republic (Badlar Private Banks ARS Index + 2.00%) 24.225% 2022 8,300,000 423,310
Argentine Republic 18.20% 2021 5,700,000 284,460
Argentine Republic 4.00% 2020 16,240,051 838,623
Ascent Resources-Utica LLC 10.00% 2022 675,000 732,375
Ashtead Group PLC 4.125% 2025 920,000 884,350
Ashtead Group PLC 4.375% 2027 1,530,000 1,457,325
Associated Materials, LLC 9.00% 2024 7,125,000 7,659,375
Avis Budget Group, Inc. 5.50% 2023 2,030,000 2,017,313
Avon Products, Inc. 7.875% 2022 1,160,000 1,191,900
Axalta Coating Systems LLC 4.875% 2024 1,450,000 1,459,063
B&G Foods, Inc. 5.25% 2025 4,605,000 4,299,919
BJ's Wholesale Club, Term Loan, (3-month USD-LIBOR + 7.50%) 9.191% 2025 4,920,000 4,949,215
BMC Software, Inc. 9.00% 2019 251,000 251,314
BWAY Parent Co. Inc., 5.50% 2024 990,000 998,663
BWAY Parent Co. Inc., 7.25% 2025 3,825,000 3,911,063
BWAY Parent Co. Inc., Term Loan, (3-month USD-LIBOR + 3.25%) 4.958% 2024 338,296 340,375
Ball Corp. 4.375% 2020 1,775,000 1,810,500
Ball Corp. 4.875% 2026 2,040,000 2,050,404
Ball Corp. 5.25% 2025 805,000 832,169
Beacon Roofing Supply, Inc. 4.875% 2025 1,750,000 1,675,625
Berry Petroleum Corporation 7.00% 2026 2,160,000 2,182,248
Berry Plastics Corp. 5.50% 2022 820,000 842,550
Blackstone CQP Holdco LP, 6.00% 2021 1,600,000 1,612,000
Blackstone CQP Holdco LP, 6.50% 2021 21,310,000 21,523,100
Blue Racer Midstream LLC / Blue Racer Finance Corp. 6.125% 2022 2,000,000 2,045,000
Bohai Financial Investment Holding Co., Ltd. 4.50% 2023 925,000 878,750
Bohai Financial Investment Holding Co., Ltd. 5.25% 2022 675,000 663,829
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 2,375,000 2,309,688
Brand Energy 8.5% 2025 6,005,000 6,290,238
Builders FirstSource, Inc. 5.625% 2024 4,835,000 4,877,306
CCO Holdings LLC and CCO Holdings Capital Corp. 4.00% 2023 2,575,000 2,484,875
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 5,950,000 5,607,875
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2027 3,125,000 2,974,688
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2025 550,000 543,125
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 2026 2,600,000 2,551,250
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 8,450,000 8,428,960
CCO Holdings LLC and CCO Holdings Capital Corp. 5.875% 2024 1,350,000 1,377,000
CD&R Waterworks Merger Sub, LLC 6.125% 2025 2,190,000 2,146,200
CD&R Waterworks Merger Sub, LLC, Term Loan B, (3-month USD-LIBOR + 3.00%) 5.211% 2024 698,250 701,850
CEMEX SAB de CV 7.75% 2026 1,725,000 1,904,745
CEVA Group PLC 9.00% 2021 1,700,000 1,683,000
CEVA Group PLC, Term Loan B, (3-month USD-LIBOR + 5.50%) 7.272% 2021 588,593 582,707
CF Industries, Inc. 4.95% 2043 2,565,000 2,247,581
CHOBANI LLC 7.50% 2025 1,855,000 1,917,606
CIT Group Inc. 3.875% 2019 5,835,000 5,877,304
CIT Group Inc. 4.125% 2021 1,675,000 1,687,563
CIT Group Inc. 5.25% 2025 620,000 636,318
CONSOL Energy Inc. 5.875% 2022 11,649,000 11,750,929
CRC Escrow Issuer LLC 5.25% 2025 2,750,000 2,643,245
CVR Partners, LP 9.25% 2023 1,300,000 1,388,985
Cablevision Systems Corp. 6.75% 2021 4,475,000 4,670,781
Caesars Resort Collection LLC, Term Loan, (3-month USD-LIBOR + 2.75%) 4.627% 2024 997,500 1,005,426
California Resources Corp., Term Loan B, (3-month USD-LIBOR + 4.75%) 6.016% 2022 3,200,000 3,262,000
California Resources Corp., Term Loan B1, (3-month USD-LIBOR + 10.375%) 12.229% 2021 1,325,000 1,490,625
Calpine Corp. 5.25% 2026 3,495,000 3,385,781
Calpine Corp. 5.375% 2023 2,910,000 2,796,656
Calpine Corp. 5.75% 2025 1,385,000 1,270,738
Calpine Corp. 5.875% 2024 1,020,000 1,032,546
Calpine Corp. 6.00% 2022 425,000 437,389
Camelot Finance SA 7.875% 2024 6,855,000 7,172,044
Carlyle Group LP 6.375% 2022 1,090,000 1,125,425
Carrizo Oil & Gas Inc. 6.25% 2023 3,500,000 3,517,500
Centene Corp. 4.75% 2022 6,515,000 6,629,013
Centene Corp. 4.75% 2025 2,625,000 2,565,938
Centene Corp. 6.125% 2024 2,000,000 2,086,400
CenturyLink, Inc. 6.75% 2023 4,850,000 4,740,875
CenturyLink, Inc. 7.50% 2024 1,300,000 1,313,000
Cequel Communications Holdings I, LLC and Cequel Capital Corp. 6.375% 2020 5,367,000 5,474,340
Charles River Laboratories International, Inc. 5.50% 2026 1,605,000 1,635,094
Chemours Co. 6.625% 2023 2,410,000 2,539,538
Cheniere Energy Partners, LP 5.25% 2025 1,700,000 1,680,875
Chesapeake Energy Corp. (3-month USD-LIBOR + 3.25%) 4.97% 2019 2,220,000 2,214,450
Chesapeake Energy Corp. 4.875% 2022 4,500,000 4,185,000
Chesapeake Energy Corp. 5.50% 2026 600,000 519,660
Chesapeake Energy Corp. 8.00% 2022 2,993,000 3,168,839
Chesapeake Energy Corp. 8.00% 2025 7,325,000 7,105,250
Chesapeake Energy Corp. 8.00% 2027 4,850,000 4,643,875
Churchill Downs Inc. 4.75% 2028 1,000,000 947,500
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2009-E, 6.138% 2039 1,870,000 1,759,707
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 10,100,000 10,125,250
Cleveland-Cliffs Inc. 4.875% 2024 3,500,000 3,403,750
Cleveland-Cliffs Inc. 5.75% 2025 14,775,000 14,165,531
Cleveland-Cliffs Inc. 6.25% 2040 585,000 485,550
Cloud Crane LLC, 10.125% 2024 1,175,000 1,304,250
ClubCorp Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 5.552% 2024 2,046,670 2,062,387
Colorado Buyer Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.03% 2025 1,062,500 1,069,249
Commercial Metals Co. 5.375% 2027 1,200,000 1,185,000
Community Health Systems Inc. 6.25% 2023 850,000 787,313
Concordia Healthcare Corp, Term Loan B, (3-month USD-LIBOR + 4.25%) 6.127% 2021 1,528,046 1,371,421
Concordia Healthcare Corp. 7.00% 2023 6,590,000 477,775
Concordia Healthcare Corp. 9.50% 2022 1,645,000 115,150
Consolidated Energy Finance SA 6.875% 2025 2,570,000 2,698,500
Constellation Merger Sub Inc. 8.50% 2025 1,025,000 996,813
Constellium NV 5.875% 2026 1,200,000 1,185,000
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 2020 103,746 106,210
Continental Airlines, Inc., Series 2000-1, Class B, 8.388% 2022 38 43
Continental Airlines, Inc., Series 2000-2, Class B, 8.307% 2019 31,334 31,334
Convey Park Energy LLC 7.50% 2025 3,795,000 3,795,000
Corporate Risk Holdings LLC 13.50% 2020 1,187,260 1,270,368
Corporate Risk Holdings LLC 9.50% 2019 12,782,000 13,389,145
Cott Beverages Inc. 5.50% 2025 1,670,000 1,653,300
Crescent Resources Holdings LLC 8.875% 2021 1,211,000 1,280,633
Cumulus Media Inc. 7.75% 2019 1,480,000 240,500
DAE Aviation Holdings, Inc. 10.00% 2023 7,965,000 8,691,806
DCP Midstream LP 7.375% 2022 1,500,000 1,497,188
DCP Midstream Operating LP 4.95% 2022 3,030,000 3,060,300
DISH DBS Corp. 3.375% 2026 760,000 733,932
DJO Finance LLC 8.125% 2021 550,000 554,125
DaVita HealthCare Partners Inc. 5.00% 2025 2,365,000 2,291,803
DaVita HealthCare Partners Inc. 5.125% 2024 615,000 601,547
Deck Chassis Acquisition Inc. 10.00% 2023 3,940,000 4,284,750
Delphi Automotive PLC 5.00% 2025 420,000 403,725
Delta 2 (Formula One), Term Loan B, (3-month USD-LIBOR + 2.50%) 4.377% 2024 1,045,843 1,049,547
Denbury Resources Inc. 9.00% 2021 851,000 876,530
Diamond Offshore Drilling, Inc. 4.875% 2043 3,260,000 2,347,200
Diamond Offshore Drilling, Inc. 5.70% 2039 641,000 509,595
Diamond Offshore Drilling, Inc. 7.875% 2025 2,800,000 2,817,500
Diamondback Energy, Inc. 5.375% 2025 1,675,000 1,703,056
Dollar Tree Inc. 5.75% 2023 1,220,000 1,277,480
Dynegy Finance Inc. 7.375% 2022 1,685,000 1,779,781
Dynegy Finance Inc. 7.625% 2024 260,000 281,775
EP Energy Corp. 8.00% 2024 1,300,000 1,313,000
Eagle Holding Co II LLC 7.625% 2022 810,000 818,100
EchoStar Corp. 6.625% 2026 1,575,000 1,578,938
Emera Inc. 6.75% 2076 4,200,000 4,557,000
Enbridge Inc., Series A, 6.00% 2077 2,225,000 2,202,750
Endo International PLC 5.375% 2023 600,000 457,500
Endo International PLC 5.75% 2022 3,475,000 2,866,875
Endo International PLC 5.875% 2024 950,000 940,500
Endo International PLC 6.00% 2023 4,335,000 3,294,600
Endo International PLC 6.00% 2025 2,805,000 2,026,613
Enel Società per Azioni 8.75% 2073 2,000,000 2,377,500
Energy Transfer Partners, LP 4.25% 2023 1,775,000 1,730,625
Energy Transfer Partners, LP 5.50% 2027 3,620,000 3,638,100
Energy Transfer Partners, LP 5.875% 2024 2,925,000 3,027,375
Energy Transfer Partners, LP 6.25% (undated) 1,750,000 1,676,719
Ensco PLC 7.75% 2026 4,525,000 4,163,000
Ensco PLC, 5.75% 2044 4,845,000 3,330,938
Envision Healthcare Corp. 5.125% 2022 880,000 880,000
Equinix, Inc. 5.375% 2027 1,900,000 1,933,250
Equinix, Inc. 5.75% 2025 275,000 287,375
Equinix, Inc. 5.875% 2026 1,725,000 1,802,625
Euramax International, Inc. 12.00% 2020 2,850,000 3,028,125
Extraction Oil & Gas, Inc. 5.625% 2026 5,650,000 5,346,313
FMG Resources 9.75% 2022 4,905,000 5,407,763
FXI Holdings, Inc. 7.875% 2024 830,000 814,956
Fertitta Entertainment, Inc. 6.75% 2024 2,100,000 2,121,000
Fertitta Entertainment, Inc. 8.75% 2025 1,400,000 1,456,000
First Data Corp. 5.00% 2024 1,100,000 1,104,125
First Data Corp. 5.375% 2023 2,050,000 2,091,000
First Data Corp. 5.75% 2024 2,525,000 2,550,250
First Data Corp. 7.00% 2023 3,805,000 4,009,519
First Quality Enterprises, Inc. 5.00% 2025 1,995,000 1,915,200
First Quantum Minerals Ltd. 6.50% 2024 2,725,000 2,588,750
First Quantum Minerals Ltd. 6.875% 2026 4,150,000 3,952,875
First Quantum Minerals Ltd. 7.00% 2021 5,470,000 5,493,931
First Quantum Minerals Ltd. 7.25% 2022 2,675,000 2,688,375
First Quantum Minerals Ltd. 7.25% 2023 1,225,000 1,209,688
First Quantum Minerals Ltd. 7.50% 2025 12,700,000 12,517,438
Five Point Holdings LLC 7.875% 2025 1,950,000 1,971,938
Flex Acquisition Company, Inc. 6.875% 2025 2,075,000 2,058,141
Freeport-McMoRan Inc. 3.55% 2022 6,327,000 6,137,190
Freeport-McMoRan Inc. 3.875% 2023 500,000 484,450
Freeport-McMoRan Inc. 6.875% 2023 1,000,000 1,077,500
Frontier Communications Corp. 10.50% 2022 6,690,000 5,628,498
Frontier Communications Corp. 11.00% 2025 12,600,000 9,505,125
Frontier Communications Corp. 8.50% 2026 5,050,000 4,911,125
Frontier Communications Corp. 9.25% 2021 1,500,000 1,447,500
GTT Communications, Inc. 7.875% 2024 1,650,000 1,662,375
Garda World Security Corp. 8.75% 2025 2,410,000 2,530,500
General Motors Acceptance Corp. 7.50% 2020 1,470,000 1,593,113
Genesis Energy, LP 6.50% 2025 1,690,000 1,664,650
Genesis Energy, LP 6.75% 2022 2,300,000 2,371,875
Genesys Telecommunications Laboratories, Inc. 10.00% 2024 5,745,000 6,391,313
Genesys Telecommunications Laboratories, Inc., Term Loan B3, (3-month USD-LIBOR + 3.50%) 5.802% 2023 567,842 572,056
Georgia Gulf Corp. 4.875% 2023 800,000 816,500
Gogo Inc. 12.50% 2022 10,525,000 11,866,938
Gogo Inc., convertible notes 3.75% 2020 1,000,000 890,057
Goodyear Tire & Rubber Co. 4.875% 2027 750,000 723,353
H.I.G. Capital, LLC 6.75% 2024 4,424,000 4,406,083
HCA Inc. 4.50% 2027 2,025,000 1,959,188
HCA Inc. 5.00% 2024 2,900,000 2,936,250
HCA Inc. 5.25% 2026 550,000 558,525
HCA Inc. 5.375% 2025 650,000 653,250
HCA Inc. 5.875% 2023 625,000 648,438
HCA Inc. 5.875% 2026 1,805,000 1,841,100
HCA Inc. 7.50% 2022 360,000 396,450
HCA Inc. 7.50% 2033 315,000 345,713
HCA Inc. 7.75% 2036 205,000 226,525
HD Supply, Inc. 5.75% 2024 650,000 686,368
Hanesbrands Inc. 4.625% 2024 1,785,000 1,755,994
Hanesbrands Inc. 4.875% 2026 600,000 585,000
Hardwoods Acquisition Inc 7.50% 2021 2,155,000 1,971,825
Healthsouth Corp. 5.75% 2024 3,575,000 3,646,500
Healthsouth Corp. 5.75% 2025 2,480,000 2,542,000
Herbalife Ltd., Term Loan, (3-month USD-LIBOR + 5.50%) 7.377% 2023 2,775,000 2,807,953
Hertz Global Holdings Inc. 7.625% 2022 4,250,000 4,308,438
Hexion Inc. 10.375% 2022 1,375,000 1,337,188
Hexion Inc. 6.625% 2020 1,425,000 1,335,938
Hologic, Inc. 4.375% 2025 2,730,000 2,641,275
Howard Hughes Corp. 5.375% 2025 5,670,000 5,613,300
Hub International Ltd., 7.875% 2021 1,920,000 1,989,600
Huntsman International LLC 4.875% 2020 2,470,000 2,525,575
IMS Health Holdings, Inc. 5.00% 2026 2,350,000 2,346,193
INEOS Group Holdings SA 5.625% 2024 875,000 887,031
IRB Holding Corp. 6.75% 2026 2,985,000 2,933,061
Icahn Enterprises Finance Corp. 6.25% 2022 2,625,000 2,677,500
Indigo Natural Resources LLC 6.875% 2026 885,000 838,538
Infor (US), Inc. 6.50% 2022 3,725,000 3,808,813
Infor Software 7.875% 2021 5,785,000 5,864,544
Informatica Corp. 7.125% 2023 1,800,000 1,804,500
Inmarsat PLC 4.875% 2022 3,575,000 3,494,563
Inmarsat PLC 6.50% 2024 2,175,000 2,213,063
Intelsat Jackson Holding Co. 5.50% 2023 1,500,000 1,218,750
Intelsat Jackson Holding Co. 6.625% 2024 3,450,000 3,507,501
Intelsat Jackson Holding Co. 7.25% 2020 2,975,000 2,766,750
Intelsat Jackson Holding Co. 7.50% 2021 1,735,000 1,578,850
Intelsat Jackson Holding Co. 8.00% 2024 3,600,000 3,793,500
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 3.75%) 5.527% 2024 623,434 624,343
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 7.50%) 9.277% 2025 2,475,000 2,510,578
Iron Mountain Inc. 4.875% 2027 625,000 582,813
Iron Mountain Inc. 5.25% 2028 4,200,000 3,974,250
Iron Mountain Inc. 5.75% 2024 5,975,000 5,818,156
JBS SA 5.875% 2024 1,250,000 1,223,813
JBS SA 6.75% 2028 1,300,000 1,249,625
JELD-WEN Holding, Inc. 4.875% 2027 1,700,000 1,610,750
Jaguar Holding Co. 6.375% 2023 2,625,000 2,661,094
Jefferies Finance, LLC 7.25% 2024 900,000 892,710
Jefferies Finance, LLC 7.50% 2021 785,000 797,756
Jonah Energy LLC 7.25% 2025 5,350,000 4,841,750
Jupiter Resources Inc. 8.50% 2022 1,250,000 581,250
KAR Auction Services, Inc. 5.125% 2025 1,860,000 1,855,350
Kinetic Concepts, Inc. 12.50% 2021 6,463,000 7,335,505
Kinetic Concepts, Inc. 7.875% 2021 375,000 386,250
Kratos Defense & Security Solutions, Inc. 6.50% 2025 595,000 616,569
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 10.023% 2024 7,870,000 8,181,518
LKQ Corp. 4.75% 2023 1,040,000 1,040,000
LPL Financial Holdings Inc. 5.75% 2025 2,600,000 2,573,220
LSC Communications, Inc. 8.75% 2023 3,455,000 3,568,324
Laredo Petroleum, Inc. 6.25% 2023 725,000 730,438
Level 3 Communications, Inc. 5.125% 2023 2,150,000 2,115,063
Levi Strauss & Co. 5.00% 2025 1,280,000 1,294,400
Liberty Global PLC 5.50% 2028 2,175,000 2,011,875
Liberty Global PLC 6.125% 2025 900,000 948,375
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 10.785% 2020 7,789,540 7,000,849
Limited Brands, Inc. 5.25% 2028 1,095,000 1,033,406
Limited Brands, Inc. 6.875% 2035 525,000 511,875
Live Nation Entertainment, Inc. 5.625% 2026 860,000 872,900
Live Nation Entertainment, Inc., convertible notes, 2.50% 2023 700,000 708,177
Loral Space & Communications Inc. 8.875% 2024 1,225,000 1,347,500
M.D.C. Holdings, Inc. 6.00% 2043 995,000 936,544
MDC Partners Inc. 6.50% 2024 750,000 733,125
MGM Resorts International 6.00% 2023 1,450,000 1,526,125
MGM Resorts International 7.75% 2022 750,000 837,188
Mallinckrodt PLC 4.875% 2020 3,535,000 3,375,925
Match Group, Inc. 5.00% 2027 1,255,000 1,239,313
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 4.50%) 6.377% 2024 3,249,959 3,286,115
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 8.50%) 10.377% 2025 875,000 888,125
McGraw-Hill Global Education Holdings, LLC 7.875% 2024 225,000 215,948
Medical Properties Trust, Inc. 5.00% 2027 2,020,000 1,985,256
Meredith Corp. 6.875% 2026 6,740,000 6,933,775
Meredith Corp., Term Loan B, (3-month USD-LIBOR + 3.00%) 4.877% 2025 1,700,000 1,712,160
Meritage Homes Corp. 5.125% 2027 1,875,000 1,776,563
Mississippi Power Co. 4.25% 2042 930,000 911,974
Mitchell International, Inc., Term Loan B, (3-month USD-LIBOR + 7.25%) 0% 2025 2,050,000 2,064,721
Mohegan Tribal Gaming Authority 7.875% 2024 975,000 973,781
Molina Healthcare, Inc. 4.875% 2025 3,975,000 3,726,563
Molina Healthcare, Inc. 5.375% 2022 10,285,000 10,207,863
Moss Creek Resources Holdings, Inc. 7.50% 2026 1,580,000 1,599,276
Multi-Color Corp. 4.875% 2025 1,810,000 1,696,875
Multiplan, Inc. 7.125% 2024 2,575,000 2,665,125
Multiplan, Inc. 8.50% 2022 2,155,000 2,203,509
Murphy Oil Corp. 5.75% 2025 1,690,000 1,668,875
Murphy Oil Corp. 6.875% 2024 1,400,000 1,463,000
NGL Energy Partners LP 6.125% 2025 4,690,000 4,490,675
NGL Energy Partners LP 6.875% 2021 6,810,000 6,818,513
NGPL PipeCo LLC 4.375% 2022 315,000 314,213
NGPL PipeCo LLC 7.768% 2037 1,000,000 1,215,000
NMG Finco PLC 5.75% 2022 3,375,000 3,412,125
NRG Energy, Inc. 6.25% 2022 3,950,000 4,087,065
NRG Energy, Inc. 6.625% 2027 2,240,000 2,301,600
NRG Energy, Inc. 7.25% 2026 500,000 532,500
NVA Holdings Inc 6.875% 2026 3,080,000 3,110,800
Nabors Industries Ltd. 5.75% 2025 1,300,000 1,228,500
Navient Corp. 4.875% 2019 3,100,000 3,132,550
Navient Corp. 5.5% 2023 4,735,000 4,669,894
Navient Corp. 6.125% 2024 290,000 290,363
Navient Corp. 6.50% 2022 4,240,000 4,388,400
Navient Corp. 6.75% 2025 1,800,000 1,829,250
Navistar International Corp. 6.625% 2025 2,170,000 2,175,425
Navistar International Corp., Term Loan, (3-month USD-LIBOR + 4.75%) 5.21% 2024 1,105,000 1,114,324
Neiman Marcus Group LTD Inc. 8.00% 2021 675,000 430,313
Neiman Marcus Group LTD Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 4.941% 2020 4,196,635 3,636,644
Neptune Finco Corp. (Altice NV) 6.625% 2025 3,050,000 3,156,750
Nielsen Finance LLC and Nielsen Finance Co. 5.00% 2022 650,000 651,118
Noble Corp. PLC 7.95% 2025 2,225,000 1,980,250
Noble Corp. PLC 8.95% 2045 2,250,000 1,867,500
Nova Chemicals Corp 4.875% 2024 2,525,000 2,427,156
Nova Chemicals Corp 5.25% 2027 2,400,000 2,286,000
Novelis Corp. 5.875% 2026 2,195,000 2,167,563
Novelis Corp. 6.25% 2024 760,000 780,900
NuStar Logistics, LP 5.625% 2027 3,000,000 2,917,500
Numericable Group SA 6.00% 2022 675,000 660,656
Numericable Group SA 7.375% 2026 525,000 502,031
OCI NV, Term Loan B, (3-month USD-LIBOR + 4.25%) 6.552% 2025 960,000 969,900
ONEOK, Inc. 7.50% 2023 1,250,000 1,457,866
Olin Corp. 5.125% 2027 600,000 593,250
Owens-Illinois, Inc. 5.00% 2022 560,000 567,532
Owens-Illinois, Inc. 5.875% 2023 1,580,000 1,638,263
Owens-Illinois, Inc. 6.375% 2025 2,125,000 2,247,188
PAREXEL International Corp. 6.375% 2025 3,935,000 3,767,763
PDC Energy Inc. 5.75% 2026 2,250,000 2,213,438
PE Cortes NP Holdings LLC 12.00% 2022 1,375,000 1,460,938
PE Cortes NP Holdings LLC 9.25% 2024 1,825,000 1,916,250
PQ Group Holdings Inc. 5.75% 2025 1,485,000 1,473,863
Parsley Energy, Inc. 5.25% 2025 500,000 498,125
Parsley Energy, Inc. 5.375% 2025 650,000 651,625
Parsley Energy, Inc. 6.25% 2024 500,000 519,375
Peabody Energy Corp. 6.00% 2022 1,050,000 1,074,938
Peabody Energy Corp. 6.375% 2025 775,000 806,969
Petrobras Global Finance Co. 7.375% 2027 1,330,000 1,442,385
Petrobras International Finance Co. 6.75% 2041 1,700,000 1,661,750
Petróleos Mexicanos 6.75% 2047 1,415,000 1,435,348
Petsmart, Inc. 5.875% 2025 13,950,000 10,148,625
Petsmart, Inc. 7.125% 2023 2,770,000 1,585,825
Petsmart, Inc. 8.875% 2025 5,120,000 2,944,000
Pilgrim's Pride Corp. 5.75% 2025 2,545,000 2,478,194
Pinnacle Foods Inc. 5.875% 2024 800,000 832,000
Pisces Parent LLC, Term Loan B, (3-month USD-LIBOR + 3.75%) 6.062% 2025 1,955,000 1,945,225
Pisces Parent, LLC 8.00% 2026 2,480,000 2,480,000
Plastipak Holdings, Inc. 6.25% 2025 1,145,000 1,147,863
Plastipak Holdings, Inc., Term Loan, (3-month USD-LIBOR + 2.75%) 4.63% 2024 328,350 330,539
Platform Specialty Products Corp. 5.875% 2025 4,260,000 4,169,475
Platform Specialty Products Corp. 6.50% 2022 1,525,000 1,553,594
Ply Gem Industries, Inc. 6.50% 2022 1,275,000 1,317,489
Post Holdings, Inc. 5.00% 2026 1,840,000 1,752,600
Post Holdings, Inc. 5.625% 2028 2,405,000 2,305,794
Post Holdings, Inc. 8.00% 2025 1,550,000 1,745,688
Prestige Brands International Inc. 6.375% 2024 2,510,000 2,579,025
Prime Security Services Borrower, LLC 9.25% 2023 3,101,000 3,368,461
PrimeSource Building Products Inc 9.00% 2023 171,000 179,123
QEP Resources, Inc. 5.625% 2026 1,480,000 1,402,300
QGOG Constellation SA 9.50% 2024 6,113,648 2,980,403
Quintiles Transnational Corp. 4.875% 2023 2,625,000 2,687,344
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 1,772,165
Range Resources Corp. 4.875% 2025 1,600,000 1,492,000
Range Resources Corp. 5.00% 2022 575,000 559,188
Rayonier Advanced Materials Inc. 5.50% 2024 1,860,000 1,832,100
Realogy Corp. 4.50% 2019 1,825,000 1,838,688
Realogy Corp. 4.875% 2023 5,075,000 4,884,688
Rexnord Corp. 4.875% 2025 2,610,000 2,538,225
Reynolds Group Inc. 5.75% 2020 2,127,191 2,156,440
Reynolds Group Inc. 7.00% 2024 5,405,000 5,668,494
Rockpoint Gas Storage Canada Ltd 7.00% 2023 2,450,000 2,459,188
Rotech Healthcare Inc., Term Loan A, (3-month USD-LIBOR + 4.25%) 0% 2018 2,960,500 2,945,698
Rotech Healthcare Inc., Term Loan B, (3-month USD-LIBOR + 8.75%) 0% 2019 2,300,000 2,288,500
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.313% 2020 6,893,196 6,479,570
Ryerson Inc. 11.00% 2022 6,336,000 7,001,280
SBA Communications Corp. 4.00% 2022 510,000 490,875
SBA Communications Corp. 4.875% 2022 700,000 707,000
SM Energy Co. 5.625% 2025 3,740,000 3,562,350
SM Energy Co. 6.125% 2022 2,700,000 2,713,500
SM Energy Co. 6.50% 2021 750,000 759,375
SM Energy Co. 6.75% 2026 475,000 472,625
SOCIETE GENERALE 4(2) CP 4/2/2018 26,050,000 26,045,311
SPCM SA 4.875% 2025 1,675,000 1,631,031
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 4,500,000 4,471,875
Sanchez Energy Corp. 7.25% 2023 2,525,000 2,543,938
Schaeffler Verwaltungs 4.75% 2026 1,350,000 1,304,438
Scientific Games Corp. 10.00% 2022 262,000 283,124
Scientific Games Corp. 5.00% 2025 890,000 867,750
Scientific Games Corp. 6.25% 2020 1,240,000 1,247,750
Scientific Games Corp., Term Loan B5, (3-month USD-LIBOR + 2.75%) 4.744% 2024 875,000 879,239
Scotts Miracle-Gro Co. 5.25% 2026 650,000 645,938
Sensata Technologies Holding NV 6.25% 2026 1,000,000 1,055,950
Seven Generations Energy Ltd. 5.375% 2025 425,000 406,938
Shelf Drilling, Ltd. 8.25% 2025 1,600,000 1,610,000
Simmons Foods Inc. 5.75% 2024 1,950,000 1,772,063
Sirius XM Radio Inc 3.875% 2022 1,675,000 1,616,375
Six Flags Entertainment Corp. 4.875% 2024 3,750,000 3,660,938
SoftBank Group Corp. 4.50% 2020 8,050,000 8,229,515
Softbank Group Corp., Subordinated 6.875% (undated) 2,050,000 1,955,598
Solera Holdings, Inc. 10.50% 2024 2,400,000 2,682,000
Sotheby's 4.875% 2025 7,220,000 6,894,378
Southwestern Energy Co. 4.10% 2022 7,605,000 7,319,813
Southwestern Energy Co. 7.50% 2026 1,415,000 1,436,225
Southwestern Energy Co. 7.75% 2027 750,000 766,875
Spectrum Brands Inc. 6.125% 2024 750,000 776,250
Springleaf Finance Corp. 6.875% 2025 2,400,000 2,415,000
Springleaf Finance Corp. 8.25% 2020 1,175,000 1,282,219
Sprint Capital Corp. 8.75% 2032 1,025,000 1,073,688
Sprint Corp. 11.50% 2021 5,880,000 6,850,200
Sprint Corp. 6.875% 2028 4,700,000 4,400,375
Sprint Corp. 7.125% 2024 2,025,000 1,979,438
Sprint Corp. 7.25% 2021 4,265,000 4,419,606
Sprint Corp. 7.875% 2023 3,305,000 3,383,494
Standard Industries Inc. 6.00% 2025 1,750,000 1,802,500
Staples Inc. 8.50% 2025 920,000 853,300
Starwood Property Trust, Inc. 5.00% 2021 1,650,000 1,687,125
Summit Materials, Inc. 5.125% 2025 4,250,000 4,133,125
Summit Materials, Inc. 6.125% 2023 350,000 358,750
SunCoke Energy Partners, LP, 7.50% 2025 1,950,000 2,018,250
Sunoco LP 4.875% 2023 4,225,000 4,082,406
Sunoco LP 5.50% 2026 825,000 798,188
Sunoco LP 5.875% 2028 2,010,000 1,947,188
T-Mobile US, Inc. 6.375% 2025 2,675,000 2,802,063
T-Mobile US, Inc. 6.50% 2026 900,000 958,500
TI Automotive Ltd. 8.75% 2023 554,000 584,470
Talen Energy Corp. 10.50% 2026 1,770,000 1,528,838
Talen Energy Corp. 4.60% 2021 295,000 256,650
Talen Energy Corp. 9.50% 2022 2,220,000 2,164,500
Tapstone Energy Inc. 9.75% 2022 2,075,000 1,732,625
Targa Resources Partners LP 4.125% 2019 2,000,000 2,010,000
Targa Resources Partners LP 5.125% 2025 375,000 374,531
Targa Resources Partners LP 6.75% 2024 1,310,000 1,390,211
Team Health Holdings, Inc. 6.375% 2025 2,905,000 2,505,853
Teekay Corp. 5.00% 2023 750,000 725,584
Teekay Corp. 8.50% 2020 11,168,000 11,614,720
Teleflex Inc. 4.625% 2027 930,000 898,622
Tempo Acquisition LLC 6.75% 2025 1,650,000 1,652,063
Tenet Healthcare Corp. 4.375% 2021 4,255,000 4,201,813
Tenet Healthcare Corp. 4.50% 2021 1,405,000 1,399,731
Tenet Healthcare Corp. 4.625% 2024 4,042,000 3,900,530
Tenet Healthcare Corp. 4.75% 2020 4,050,000 4,100,625
Tenet Healthcare Corp. 5.125% 2025 450,000 434,250
Tenet Healthcare Corp. 6.75% 2023 2,125,000 2,087,813
Tenet Healthcare Corp. 8.125% 2022 2,125,000 2,223,281
Tenet Healthcare Corp., 6.00% 2020 6,815,000 7,070,563
Tesla, Inc., convertible notes 2.375% 2022 375,000 391,577
Teva Pharmaceutical Finance Company BV 2.20% 2021 775,000 698,296
Teva Pharmaceutical Finance Company BV 2.80% 2023 1,925,000 1,632,367
Teva Pharmaceutical Finance Company BV 6.00% 2024 3,555,000 3,455,293
Teva Pharmaceutical Finance Company BV 6.75% 2028 2,900,000 2,866,415
Teva Pharmaceutical Industries Ltd. 4.50% 2025 1,375,000 1,698,332
TransDigm Inc. 6.50% 2024 705,000 724,388
Transocean Inc. 7.50% 2026 1,350,000 1,333,125
Transocean Inc. 7.75% 2024 1,687,500 1,799,297
Transocean Inc. 8.375% 2021 2,805,000 3,001,350
Transocean Inc. 9.00% 2023 3,494,000 3,729,845
Trident Merger Sub, Inc. 6.625% 2025 305,000 298,138
Trilogy International Partners, LLC 8.875% 2022 4,700,000 4,829,250
Trinseo SA 5.375% 2025 820,000 807,700
Tronox Ltd. 5.75% 2025 700,000 682,500
USA Compression Partners, LP 6.875% 2026 2,200,000 2,238,500
Ultra Petroleum Corp. 6.875% 2022 6,015,000 5,255,606
Ultra Petroleum Corp. 7.125% 2025 1,675,000 1,379,781
Unisys Corp. 10.75% 2022 7,400,000 8,352,750
United Rentals, Inc. 4.625% 2025 3,630,000 3,539,250
United Rentals, Inc. 4.875% 2028 1,170,000 1,131,975
United States Steel Corp. 7.375% 2020 925,000 987,438
Univision Communications Inc. 5.125% 2023 2,975,000 2,841,423
Valeant Pharmaceuticals International, Inc. 5.625% 2021 1,175,000 1,126,531
Valeant Pharmaceuticals International, Inc. 5.875% 2023 8,860,000 7,896,475
Valeant Pharmaceuticals International, Inc. 6.125% 2025 18,765,000 16,264,564
Valeant Pharmaceuticals International, Inc. 7.00% 2024 1,375,000 1,438,594
Valeant Pharmaceuticals International, Inc. 7.25% 2022 1,150,000 1,154,313
Valeant Pharmaceuticals International, Inc. 7.50% 2021 3,540,000 3,579,825
Valeant Pharmaceuticals International, Inc. 9.00% 2025 2,540,000 2,533,650
Valeant Pharmaceuticals International, Inc. 9.25% 2026 6,135,000 6,127,331
Vantiv, Inc. 4.375% 2025 1,350,000 1,309,500
Vector Group Ltd. 6.125% 2025 1,750,000 1,754,375
Venator Materials Corp. 5.75% 2025 3,585,000 3,593,963
VeriSign, Inc. 5.25% 2025 1,650,000 1,683,000
Veritas Holdings Limited 7.50% 2023 830,000 834,150
Vine Oil & Gas LP 8.75% 2023 1,450,000 1,355,750
Vine Oil & Gas LP, Term Loan, (3-month USD-LIBOR + 6.875%) 8.752% 2021 1,550,000 1,557,750
Virgin Australia Holdings Ltd. 7.875% 2021 800,000 815,200
Virgin Australia Holdings Ltd. 8.50% 2019 2,125,000 2,188,644
Vizient Inc. 10.375% 2024 985,000 1,095,813
WPX Energy Inc. 6.00% 2022 710,000 733,075
WPX Energy Inc. 7.50% 2020 469,000 504,175
Warner Music Group 5.00% 2023 2,670,000 2,683,350
Warner Music Group 5.50% 2026 2,425,000 2,443,188
Warner Music Group 5.625% 2022 2,114,000 2,169,493
Warrior Met Coal, Inc. 8.00% 2024 3,850,000 3,927,000
Weatherford International PLC 4.50% 2022 2,640,000 2,204,400
Weatherford International PLC 5.875% 2021 527,000 473,740
Weatherford International PLC 6.50% 2036 5,615,000 4,028,763
Weatherford International PLC 6.75% 2040 7,755,000 5,544,825
Weatherford International PLC 7.75% 2021 1,710,000 1,600,988
Weatherford International PLC 8.25% 2023 225,000 196,313
Weatherford International PLC 9.875% 2024 1,540,000 1,412,950
Weatherford International PLC 9.875% 2025 2,725,000 2,465,308
Western Digital Corp. 4.75% 2026 3,200,000 3,198,960
Western Digital Corp., convertible notes, 1.50% 2024 500,000 542,033
Whiting Petroleum Corp. 6.625% 2026 2,950,000 2,975,813
Williams Companies, Inc. 4.55% 2024 500,000 505,985
Wind Tre SpA 5.00% 2026 4,875,000 4,166,858
Windstream Holdings, Inc. 7.75% 2020 350,000 294,000
Windstream Holdings, Inc. 8.75% 2024 5,646,000 3,373,485
Wyndham Worldwide Corp. 5.375% 2026 1,325,000 1,325,000
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 2,823,000 2,777,126
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 1,400,000 1,375,500
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 8,450,000 8,513,375
ZF Friedrichshafen AG 4.75% 2025 1,510,000 1,532,650
Zayo Group Holdings, Inc. 5.75% 2027 1,500,000 1,468,125
Zayo Group Holdings, Inc. 6.375% 2025 2,225,000 2,311,219
Zekelman Industries Inc. 9.875% 2023 520,000 573,300
Ziggo Bond Finance BV 5.50% 2027 6,950,000 6,548,360
Ziggo Bond Finance BV 5.875% 2025 950,000 902,500
iHeartCommunications, Inc. 9.00% 2019 1,025,000 818,719
iHeartCommunications, Inc., Term Loan D, (3-month USD-LIBOR + 6.75%) 9.052% 2019 1,725,000 1,378,922
inVentiv Health, Inc. 7.50% 2024 1,340,000 1,430,450
j2 Global, Inc. 6.00% 2025 1,130,000 1,162,488
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 1,516 0.00
Ascent Resources - Utica, LLC, Class A 6,297,894 1,448,516 0.10
Associated Materials, LLC, 14.00% convertible preferred 2020 4,850 5,826,485 0.41
Associated Materials, LLC, warrants, expire 2023 68,899 0 0.00
Atrium Corp. 361 16,967 0.00
CEVA Group PLC 5,622 3,654,196 0.26
CEVA Group PLC, Series A-1, (3-month USD-LIBOR + 3.00%) 0% convertible preferred 4,788 4,488,844 0.32
Corporate Risk Holdings Corp. 1,104 0 0.00
Corporate Risk Holdings I, Inc. 218,504 5,523,781 0.39
Frontier Communications Corp., Series A, 11.125% convertible preferred 2018 10,000 114,400 0.01
Liberman Broadcasting, Inc., warrants, expire 2022 1 0 0.00
NII Holdings, Inc. 128,666 271,485 0.02
Rotech Healthcare Inc. 201,793 403,586 0.03
Vistra Energy Corp., rights 41,035 24,621 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.