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Portfolio Holdings

American Funds Insurance Series - Global Bond Fund

As of September 30, 2017 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACE INA Holdings Inc. 2.30% 2020 180,000 181,362
ACE INA Holdings Inc. 2.875% 2022 365,000 371,884
ACE INA Holdings Inc. 3.35% 2026 365,000 374,468
ACE INA Holdings Inc. 4.35% 2045 665,000 732,156
AES Corp. 5.50% 2025 650,000 686,563
AES Corp. 6.00% 2026 425,000 459,000
AMERICAN HONDA FINL CP 12/14/2017 8,000,000 7,979,952
AT&T Inc. 1.40% 2017 300,000 299,970
AT&T Inc. 2.45% 2020 1,365,000 1,375,370
AT&T Inc. 2.80% 2021 3,280,000 3,320,954
AT&T Inc. 3.00% 2022 2,200,000 2,223,694
AT&T Inc. 3.90% 2027 1,535,000 1,539,858
AT&T Inc. 4.250% 2027 4,655,000 4,791,410
AT&T Inc. 4.90% 2037 1,220,000 1,238,233
AXA SA 8.60% 2030 220,000 315,700
AXA SA, junior subordinated 5.453% (undated) 300,000 453,557
AbbVie Inc. 1.80% 2018 600,000 600,919
AbbVie Inc. 2.50% 2020 3,155,000 3,194,280
AbbVie Inc. 2.90% 2022 1,170,000 1,187,647
AbbVie Inc. 3.20% 2022 200,000 205,247
AbbVie Inc. 3.20% 2026 2,007,000 2,013,938
AbbVie Inc. 3.60% 2025 1,470,000 1,525,994
AbbVie Inc. 4.50% 2035 410,000 442,342
Abbott Laboratories 2.35% 2019 550,000 554,695
Abbott Laboratories 2.90% 2021 420,000 427,549
Abbott Laboratories 3.40% 2023 195,000 201,000
Abbott Laboratories 3.75% 2026 1,400,000 1,438,672
Aetna Inc. 1.70% 2018 320,000 320,263
Aetna Inc. 2.80% 2023 340,000 342,144
Aleris International, Inc. 7.875% 2020 201,000 202,005
Alexandria Real Estate Equities, Inc. 2.75% 2020 180,000 181,855
Allergan PLC 2.35% 2018 1,750,000 1,755,243
Allergan PLC 3.00% 2020 2,820,000 2,880,244
Allergan PLC 3.45% 2022 850,000 882,961
Allergan PLC 3.80% 2025 4,825,000 5,016,996
Allergan PLC 4.55% 2035 1,780,000 1,903,947
Allergan PLC 4.75% 2045 514,000 558,586
Allianz SE, 4.75% (undated) 3,000,000 4,130,063
Allison Transmission Holdings, Inc. 5.00% 2024 400,000 416,140
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 8.567% 2025 1,000,000 1,022,143
Altria Group, Inc. 2.625% 2020 1,800,000 1,828,123
Altria Group, Inc. 4.50% 2043 350,000 375,584
Amazon.com, Inc. 2.80% 2024 2,920,000 2,928,859
Amazon.com, Inc. 3.15% 2027 1,960,000 1,971,607
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 450,000 455,063
American Campus Communities, Inc. 3.75% 2023 2,485,000 2,559,883
American Campus Communities, Inc. 4.125% 2024 1,195,000 1,253,028
American Electric Power Co., Inc. 1.65% 2017 815,000 815,068
American Electric Power Co., Inc. 2.75% 2026 1,050,000 1,016,733
American Energy (Marcellus), Term Loan A, (3-month USD-LIBOR + 7.50%) 8.735% 2021 884,169 65,760
American Energy (Marcellus), Term Loan B, (3-month USD-LIBOR + 4.25%) 5.485% 2020 1,190,149 887,405
American Energy (Permian Basin) (3-month USD-LIBOR + 6.50%) 7.811% 2019 200,000 186,000
American Energy (Permian Basin), 7.125% 2020 1,295,000 1,120,175
American Energy (Permian Basin), 7.375% 2021 340,000 294,950
Amgen Inc. 1.85% 2021 420,000 413,004
Amgen Inc. 2.25% 2023 2,000,000 1,945,538
Anglo American Capital PLC 4.00% 2027 1,470,000 1,454,571
Anheuser-Busch InBev NV 3.30% 2023 1,105,000 1,146,626
Anheuser-Busch InBev NV 3.75% 2022 775,000 820,286
Anheuser-Busch InBev NV 4.90% 2046 440,000 502,759
Anheuser-Busch InBev NV 4.95% 2042 1,230,000 1,397,355
Apple Inc. 2.50% 2022 1,200,000 1,216,289
Apple Inc. 3.35% 2027 1,075,000 1,107,620
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 8% 2025 80,000 82,300
ArcelorMittal 7.25% 2041 770,000 915,338
Argentine Republic 2.50% 2021 65,679,477 3,436,169
Argentine Republic 6.875% 2021 3,575,000 3,899,878
Argentine Republic 7.50% 2026 2,200,000 2,475,000
Argentine Republic 7.625% 2046 1,900,000 2,113,750
Assicurazioni Generali SPA 7.75% 2042 1,500,000 2,222,174
Associated Materials, LLC 9.00% 2024 1,210,000 1,317,388
Australia (Commonwealth of), Series 124, 5.75% 2021 27,800,000 24,486,077
Australia (Commonwealth of), Series 128, 5.75% 2022 16,150,000 14,600,737
Australia (Commonwealth of), Series 138, 3.25% 2029 4,250,000 3,437,868
Autoridad del Canal de Panama 4.95% 2035 1,000,000 1,113,750
Avis Budget Group, Inc. 5.50% 2023 325,000 333,531
Aviva PLC 6.125% 2043 3,000,000 4,326,924
Aviva PLC, subordinated 6.875% 2058 470,000 834,688
BANK TOKYO-MIT UFJ NY CP 10/12/2017 10,700,000 10,695,453
BMC Software, Inc. 8.125% 2021 650,000 668,688
BNP Paribas 2.875% 2026 3,425,000 4,320,459
BPCE SA group 4.625% 2023 1,200,000 1,687,559
BPCE SA group 5.70% 2023 5,295,000 5,902,141
BRIDGESTONE AMERICAS 4(2) CP 10/2/2017 17,500,000 17,498,410
Ball Corp. 4.375% 2020 300,000 316,125
Banc of America Commercial Mortgage Inc., Series 2008-1, Class A4, 6.509% 2051 139,352 140,153
Banco Bilbao Vizcaya Argentaria SA 3.50% 2024 3,700,000 4,582,284
Banco Nacional de Comercio Exterior SNC 3.80% 2026 880,000 883,300
Banco Santander, SA 3.70% 2022 4,475,000 4,562,679
Bank of America Corp. 2.625% 2020 1,550,000 1,567,396
Bank of America Corp. 3.875% 2025 1,190,000 1,247,354
Barclays Bank PLC 3.65% 2025 1,100,000 1,103,599
Barclays Bank PLC 6.00% 2021 1,000,000 1,374,961
Barclays Bank PLC 6.625% 2022 1,070,000 1,560,569
Baxalta Inc. 4.00% 2025 1,580,000 1,659,545
Bayer AG 3.375% 2024 840,000 855,768
Bear Stearns Commercial Mortgage Securities Trust, Series 2007-PW18, Class AM, 6.084% 2050 690,000 691,201
Becton, Dickinson and Co. 2.675% 2019 353,000 357,381
Becton, Dickinson and Co. 2.894% 2022 1,260,000 1,264,064
Becton, Dickinson and Co. 3.70% 2027 1,430,000 1,444,065
Belgium (Kingdom of), Series 77, 1.00% 2026 12,900,000 15,829,323
Blackstone CQP Holdco LP, 6.00% 2021 225,000 221,063
Blackstone CQP Holdco LP, 6.50% 2021 3,450,000 3,501,750
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 375,000 394,688
Brandywine Operating Partnership, LP 3.95% 2023 190,000 193,071
Brazil (Federative Republic of) 0% 2020 15,000 3,984,691
Brazil (Federative Republic of) 0% 2020 8,000 2,026,685
British American Tobacco International Finance PLC 2.75% 2020 530,000 538,884
British American Tobacco International Finance PLC 3.50% 2022 385,000 397,839
British American Tobacco PLC 3.557% 2027 1,545,000 1,552,839
British American Tobacco PLC 4.39% 2037 1,190,000 1,216,200
CCO Holdings LLC and CCO Holdings Capital Corp. 4.20% 2028 675,000 683,968
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 800,000 842,000
CF Industries, Inc. 4.50% 2026 340,000 356,269
CF Industries, Inc. 4.95% 2043 780,000 725,400
CIT Group Inc. 3.875% 2019 1,975,000 2,016,969
CMS Energy Corp. 3.875% 2024 100,000 105,055
CMS Energy Corp. 4.70% 2043 412,000 447,856
CMS Energy Corp. 4.875% 2044 709,000 793,382
CMS Energy Corp. 5.05% 2022 392,000 432,378
CMS Energy Corp. 8.75% 2019 258,000 286,343
CONSOL Energy Inc. 5.875% 2022 2,625,000 2,664,375
CVS Health Corp. 1.90% 2018 430,000 431,105
CVS Health Corp. 2.80% 2020 430,000 437,741
CVS Health Corp. 3.50% 2022 430,000 447,667
Cablevision Systems Corp. 6.75% 2021 1,125,000 1,245,938
CaixaBank, SA 5.00% 2023 2,300,000 2,850,119
Calpine Corp. 5.25% 2026 655,000 655,000
Calpine Corp. 5.375% 2023 230,000 224,860
Canada 2.25% 2025 19,600,000 15,969,032
Canada 3.50% 2020 2,500,000 3,221,372
Celgene Corp 3.875% 2025 1,550,000 1,637,552
Centene Corp. 4.75% 2022 1,590,000 1,667,513
Centene Corp. 4.75% 2025 225,000 234,000
CenterPoint Energy Transition Bond Co. III, LLC, Series 2008, Class A2, 5.234% 2023 295,242 306,725
CenturyLink, Inc. 6.75% 2023 450,000 456,902
Cequel Communications Holdings I, LLC and Cequel Capital Corp. 6.375% 2020 388,000 397,215
Chemours Co. 6.625% 2023 680,000 726,750
Chemours Co. 7.00% 2025 320,000 356,000
Chesapeake Energy Corp. (3-month USD-LIBOR + 3.25%) 4.554% 2019 300,000 299,250
Chesapeake Energy Corp. 4.875% 2022 1,400,000 1,309,000
Chesapeake Energy Corp. 8.00% 2025 200,000 202,500
Chesapeake Energy Corp. 8.00% 2025 550,000 556,875
Chesapeake Energy Corp. 8.00% 2027 325,000 322,563
Chevron Corp. 2.954% 2026 1,175,000 1,173,959
Chile (Banco Central de) 4.50% 2021 12,705,000,000 20,394,458
Chile (Republic of) 3.86% 2047 750,000 766,406
Citigroup Commercial Mortgage Trust, Series 2014-CG19, Class A1, 1.199% 2047 43,681 43,654
Citigroup Inc. 1.70% 2018 375,000 375,015
Citigroup Inc. 2.35% 2021 1,500,000 1,493,178
Citigroup Inc. 2.50% 2018 200,000 201,259
Citigroup Inc. 2.55% 2019 2,800,000 2,824,895
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 1,700,000 1,685,125
Cliffs Natural Resources Inc. 5.75% 2025 2,150,000 2,072,063
Colombia (Republic of), Series B, 7.50% 2026 18,930,000,000 6,887,743
Columbia Pipeline Partners LP 2.45% 2018 620,000 622,228
Columbia Pipeline Partners LP 3.30% 2020 85,000 87,041
Comision Federal de Electricidad 4.75% 2027 675,000 712,125
Commercial Mortgage Trust, Series 2014-UBS2, Class A1, 1.298% 2047 601,114 599,851
Communications Sales & Leasing, Inc. 6.00% 2023 650,000 624,000
Communications Sales & Leasing, Inc. 8.25% 2023 550,000 488,125
Concordia Healthcare Corp, Term Loan B, (3-month USD-LIBOR + 4.25%) 5.501% 2021 1,086,573 838,698
Concordia Healthcare Corp. 7.00% 2023 1,090,000 182,575
Concordia Healthcare Corp. 9.50% 2022 405,000 72,900
Consumers Energy Co. 3.375% 2023 345,000 360,348
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 2020 14,976 15,526
Continental Airlines, Inc., Series 2000-1, Class A-1, 8.048% 2022 56,626 62,222
Continental Airlines, Inc., Series 2000-2, Class A1, 7.707% 2022 22,542 24,374
Convey Park Energy LLC 7.50% 2025 250,000 259,688
Core Industrial Trust, Series 2015-CALW, Class A, 3.04% 2034 1,460,000 1,494,050
Corporate Risk Holdings LLC 13.50% 2020 155,456 166,338
Corporate Risk Holdings LLC 9.50% 2019 1,353,000 1,440,945
Croatia (Republic of) 3.00% 2025 3,500,000 4,455,553
Croatia (Republic of) 3.00% 2027 3,850,000 4,782,668
Croatia (Republic of) 6.375% 2021 2,000,000 2,221,720
Crédit Agricole SA 4.375% 2025 1,100,000 1,145,104
Cumulus Media Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 0% 2020 954,895 790,176
DCP Midstream Operating LP 4.95% 2022 715,000 745,388
DJO Finance LLC 8.125% 2021 400,000 385,000
DaVita HealthCare Partners Inc. 5.00% 2025 480,000 474,600
DaimlerChrysler North America Holding Corp. 2.00% 2021 2,100,000 2,068,645
DaimlerChrysler North America Holding Corp. 2.25% 2020 2,000,000 2,005,030
DaimlerChrysler North America Holding Corp. 2.875% 2021 2,275,000 2,309,564
Deutsche Telekom International Finance BV 1.95% 2021 575,000 563,608
Deutsche Telekom International Finance BV 2.82% 2022 1,675,000 1,685,340
Deutsche Telekom International Finance BV 3.60% 2027 2,343,000 2,374,061
Deutsche Telekom International Finance BV 7.50% 2033 200,000 407,612
Deutsche Telekom International Finance BV 9.25% 2032 2,450,000 3,844,800
Devon Energy Corp. 3.25% 2022 170,000 172,138
Diamond Offshore Drilling, Inc. 4.875% 2043 675,000 509,625
Diamond Offshore Drilling, Inc. 7.875% 2025 175,000 185,719
Digicel Group Ltd. 8.25% 2020 400,000 392,252
Discover Card Execution Note Trust, Series 2015-A1, Class A1, (1-month USD-LIBOR + 0.35%) 1.584% 2020 4,185,000 4,189,357
Dominican Republic 5.50% 2025 1,375,000 1,457,500
Dominican Republic 7.50% 2021 2,000,000 2,230,000
Dominican Republic 8.625% 2027 225,000 275,625
Duke Energy Corp. 2.65% 2026 2,695,000 2,581,233
Duke Energy Corp. 3.75% 2024 550,000 575,884
Duke Energy Florida, LLC 3.20% 2027 805,000 814,599
EMD Finance LLC 2.40% 2020 1,485,000 1,497,287
EMD Finance LLC 2.95% 2022 225,000 228,856
EMD Finance LLC 3.25% 2025 2,450,000 2,487,054
EchoStar Corp. 6.625% 2026 650,000 697,125
Egypt (Arab Republic of) 0% 2017 37,400,000 2,118,980
Egypt (Arab Republic of) 0% 2017 39,000,000 2,191,910
Egypt (Arab Republic of) 0% 2018 82,600,000 4,315,178
Egypt (Arab Republic of) 7.50% 2027 2,200,000 2,399,181
Electricité de France SA 6.00% 2114 100,000 190,269
Electricité de France SA 6.95% 2039 625,000 840,425
Enbridge Energy Partners, LP 4.375% 2020 480,000 504,782
Enbridge Energy Partners, LP 5.20% 2020 1,535,000 1,634,861
Enbridge Energy Partners, LP 5.875% 2025 365,000 416,748
Enbridge Energy Partners, LP 9.875% 2019 750,000 829,433
Enbridge Energy Partners, LP, Series B, 6.50% 2018 820,000 840,460
Enbridge Inc. 3.70% 2027 754,000 764,185
Enbridge Inc. 4.00% 2023 600,000 631,667
Enbridge Inc. 4.25% 2026 655,000 689,877
Endo International PLC 5.75% 2022 1,290,000 1,138,425
Enel Finance International SA 3.625% 2027 2,375,000 2,383,607
Energy Transfer Partners, LP 4.00% 2027 1,054,000 1,051,728
Energy Transfer Partners, LP 4.20% 2027 260,000 263,645
Energy Transfer Partners, LP 5.50% 2027 675,000 713,813
Energy Transfer Partners, LP 5.875% 2024 600,000 647,250
Enersis Américas SA 4.00% 2026 1,960,000 2,001,944
Ensco PLC, 5.75% 2044 930,000 671,925
Essex Portfolio L.P. 3.375% 2026 2,385,000 2,374,000
Essex Portfolio L.P. 3.50% 2025 2,835,000 2,873,596
Euramax International, Inc. 12.00% 2020 600,000 655,500
European Investment Bank 2.25% 2022 3,567,000 3,594,502
Exelon Corp. 3.40% 2026 1,465,000 1,475,207
Exelon Corp. 3.497% 2022 525,000 541,215
Exxon Mobil Corp. 2.222% 2021 570,000 574,456
FED HM LN BK BD 10/11/2017 10,000,000 9,997,600
FED HM LN BK BD 10/16/2017 15,000,000 14,994,450
FMG Resources 9.75% 2022 990,000 1,115,730
Fannie Mae 3.50% 2042 405,469 419,779
Fannie Mae 3.50% 2042 842,516 873,762
Fannie Mae 3.50% 2042 296,680 307,777
Fannie Mae 4.00% 2047 20,800,000 21,861,133
Fannie Mae 4.50% 2047 2,600,000 2,790,226
Fannie Mae, Series 2012-M17, Class A2, multifamily 2.184% 2022 2,000,000 1,989,322
First Data Corp. 5.00% 2024 225,000 234,461
First Data Corp. 5.375% 2023 375,000 393,188
First Quantum Minerals Ltd. 7.00% 2021 1,756,000 1,815,265
First Quantum Minerals Ltd. 7.50% 2025 1,375,000 1,411,094
FirstEnergy Corp. 3.90% 2027 4,010,000 4,088,760
FirstEnergy Corp. 4.85% 2047 380,000 400,145
Ford Motor Credit Co. 2.375% 2019 2,550,000 2,563,324
Ford Motor Credit Co. 2.597% 2019 2,020,000 2,037,887
Ford Motor Credit Co. 3.20% 2021 3,170,000 3,235,657
Ford Motor Credit Co. 3.339% 2022 620,000 630,503
France Telecom 5.375% 2050 300,000 575,968
France Télécom 9.0% 2031 1,824,000 2,773,770
Freddie Mac, Series 3213, Class OG, principal only, 0% 2036 14,647 13,458
Freddie Mac, Series 3292, Class BO, principal only, 0% 2037 50,551 44,418
Freeport-McMoRan Inc. 3.55% 2022 1,175,000 1,159,948
French Republic O.A.T. 0.50% 2026 1,950,000 2,290,374
French Republic O.A.T. 1.75% 2024 4,100,000 5,354,380
French Republic O.A.T. 1.85% 2027 8,703,821 12,929,337
French Republic O.A.T. 3.25% 2045 1,200,000 1,890,454
Frontier Communications Corp. 11.00% 2025 1,650,000 1,410,750
Genesis Energy, LP 6.50% 2025 225,000 223,594
Genesis Energy, LP 6.75% 2022 425,000 436,688
Georgia Gulf Corp. 4.625% 2021 625,000 646,875
Germany (Federal Republic of) 0.10% 2023 1,413,828 1,805,800
Germany (Federal Republic of) 0.10% 2026 18,041,787 23,462,997
Germany (Federal Republic of) 0.50% 2026 17,350,000 20,986,481
Germany (Federal Republic of) 2.50% 2046 21,620,000 33,300,199
Germany (Federal Republic of) 4.75% 2040 200,000 412,654
Germany (Federal Republic of) 6.25% 2030 1,800,000 3,546,939
Gogo Inc. 12.50% 2022 1,850,000 2,113,625
Goldman Sachs Group, Inc. 2.00% 2019 850,000 850,113
Goldman Sachs Group, Inc. 2.55% 2019 1,530,000 1,548,069
Goldman Sachs Group, Inc. 2.875% 2021 3,702,000 3,759,577
Goldman Sachs Group, Inc. 2.905% 2023 2,200,000 2,203,375
Goldman Sachs Group, Inc. 3.50% 2025 5,970,000 6,060,493
Goldman Sachs Group, Inc. 3.75% 2026 580,000 594,578
Goldman Sachs Group, Inc. 4.75% 2045 1,805,000 2,018,320
Government National Mortgage Assn. 4.00% 2047 7,241,000 7,618,321
Government National Mortgage Assn. 4.50% 2045 1,063,848 1,136,176
Greece (Hellenic Republic of) 3.00%/3.65% 2023 150,000 166,492
Greece (Hellenic Republic of) 3.00%/3.65% 2024 150,000 163,262
Greece (Hellenic Republic of) 3.00%/3.65% 2025 150,000 160,606
Greece (Hellenic Republic of) 3.00%/3.65% 2026 150,000 158,113
Greece (Hellenic Republic of) 3.00%/3.65% 2027 150,000 154,793
Greece (Hellenic Republic of) 3.00%/3.65% 2028 150,000 149,116
Greece (Hellenic Republic of) 3.00%/3.65% 2029 150,000 144,502
Greece (Hellenic Republic of) 3.00%/3.65% 2030 150,000 141,332
Greece (Hellenic Republic of) 3.00%/3.65% 2031 150,000 138,639
Greece (Hellenic Republic of) 3.00%/3.65% 2032 150,000 137,003
Greece (Hellenic Republic of) 3.00%/3.65% 2033 150,000 134,698
Greece (Hellenic Republic of) 3.00%/3.65% 2034 150,000 132,641
Greece (Hellenic Republic of) 3.00%/3.65% 2035 150,000 130,772
Greece (Hellenic Republic of) 3.00%/3.65% 2036 150,000 128,746
Greece (Hellenic Republic of) 3.00%/3.65% 2037 150,000 127,554
Greece (Hellenic Republic of) 3.00%/3.65% 2038 150,000 126,366
Greece (Hellenic Republic of) 3.00%/3.65% 2039 150,000 126,169
Greece (Hellenic Republic of) 3.00%/3.65% 2040 150,000 125,850
Greece (Hellenic Republic of) 3.00%/3.65% 2041 150,000 126,078
Greece (Hellenic Republic of) 3.00%/3.65% 2042 150,000 125,809
H.I.G. Capital, L.L.C. 6.75% 2024 93,000 92,884
HCA Inc. 5.25% 2026 250,000 270,000
HSBC Bank PLC 1.50% 2018 200,000 199,848
HSBC Holdings PLC 3.375% 2024 1,700,000 2,093,007
HSBC Holdings PLC 3.90% 2026 4,200,000 4,398,786
HSBC Holdings PLC 4.00% 2022 305,000 322,501
HSBC Holdings PLC 4.30% 2026 1,180,000 1,268,738
Halliburton Co. 3.80% 2025 2,220,000 2,289,031
Hanesbrands Inc. 4.625% 2024 35,000 36,619
Hanesbrands Inc. 4.875% 2026 100,000 104,375
Hardwoods Acquisition Inc 7.50% 2021 425,000 395,250
Harris Corp. 1.999% 2018 700,000 701,308
Harris Corp. 2.70% 2020 155,000 156,695
Healthsouth Corp. 5.75% 2025 720,000 752,616
Hertz Global Holdings Inc. 7.625% 2022 770,000 795,988
Holcim Ltd. 5.15% 2023 1,290,000 1,431,961
Hospitality Properties Trust 6.70% 2018 680,000 682,596
Humana Inc. 3.85% 2024 1,000,000 1,051,547
Humana Inc. 4.95% 2044 1,000,000 1,136,064
Hungary 3.875% 2020 1,000,000 1,290,918
Hungary 4.00% 2019 4,100,000 4,232,102
Hungary 5.375% 2023 460,000 519,529
Hungary 5.375% 2024 2,700,000 3,092,793
Hungary 6.00% 2019 1,200,000 1,527,944
Hungary 6.25% 2020 810,000 884,378
Huntsman International LLC 4.875% 2020 600,000 638,250
Husky Energy Inc. 7.25% 2019 250,000 276,520
Hyundai Capital America 2.55% 2020 2,580,000 2,576,615
Hyundai Capital Services Inc. 2.625% 2020 500,000 498,489
Icahn Enterprises Finance Corp. 6.25% 2022 275,000 287,375
Imperial Tobacco Finance PLC 3.50% 2023 2,000,000 2,054,214
Imperial Tobacco Finance PLC 5.00% 2019 2,800,000 3,663,847
India (Republic of) 6.97% 2026 381,000,000 5,913,847
India (Republic of) 7.59% 2029 375,800,000 6,010,976
India (Republic of) 7.61% 2030 167,270,000 2,687,861
India (Republic of) 7.68% 2023 224,400,000 3,597,175
India (Republic of) 7.80% 2021 1,087,600,000 17,305,761
India (Republic of) 7.88% 2030 25,000,000 407,130
India (Republic of) 8.83% 2023 1,284,200,000 21,608,710
Indonesia (Republic of) 3.75% 2022 4,150,000 4,314,083
Indonesia (Republic of) 4.125% 2025 1,200,000 1,262,366
Indonesia (Republic of) 4.75% 2026 3,500,000 3,824,891
Indonesia (Republic of) 4.875% 2021 2,600,000 2,807,095
Inmarsat PLC 4.875% 2022 1,075,000 1,101,875
Inmarsat PLC 6.50% 2024 675,000 729,000
International Paper Co. 7.30% 2039 600,000 830,230
Intesa Sanpaolo SpA 5.017% 2024 2,510,000 2,554,517
Intesa Sanpaolo SpA 6.625% 2023 3,610,000 5,303,035
Iraq (Republic of) 6.752% 2023 545,000 543,094
Ireland (Republic of) 2.00% 2045 2,000,000 2,429,738
Ireland (Republic of) 2.40% 2030 5,365,000 7,232,639
Ireland (Republic of) 3.40% 2024 6,110,000 8,677,779
Israel (State of) 2.00% 2027 28,300,000 8,171,581
Israel (State of) 5.50% 2042 29,300,000 12,076,129
Italy (Republic of) 0.95% 2023 1,900,000 2,238,500
Italy (Republic of) 1.45% 2022 10,575,000 12,865,926
Italy (Republic of) 4.50% 2024 2,500,000 3,522,647
Italy (Republic of) 4.75% 2023 2,900,000 4,133,173
J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2007-C1, Class A4, 5.716% 2051 157,132 156,994
JPMorgan Chase & Co. 2.55% 2021 6,039,000 6,100,966
JPMorgan Chase & Co. 2.70% 2023 1,950,000 1,951,351
JPMorgan Chase & Co. 3.25% 2022 1,000,000 1,033,080
Japan, Series 116, 2.20% 2030 1,735,000,000 19,249,688
Japan, Series 145, 1.70% 2033 2,465,000,000 26,413,365
Japan, Series 18, 0.10% 2024 4,708,795,000 43,332,233
Japan, Series 19, 0.10% 2024 2,672,325,000 24,674,923
Japan, Series 20, 0.10% 2025 670,670,000 6,195,617
Japan, Series 21, 0.10% 2026 975,351,000 9,026,945
Japan, Series 21, 2.30% 2035 720,000,000 8,418,129
Japan, Series 326, 0.70% 2022 1,935,000,000 17,890,681
Japan, Series 336, 0.50% 2024 800,000,000 7,383,376
Japan, Series 337, 0.30% 2024 790,000,000 7,189,060
Japan, Series 340, 0.40% 2025 435,000,000 3,992,046
Japan, Series 344, 0.10% 2026 1,355,000,000 12,114,730
Japan, Series 42, 1.70% 2044 585,000,000 6,335,905
Japan, Series 53, 0.60% 2046 1,445,000,000 12,039,852
Japan, Series 683, 0% 2018 15,300,000,000 136,095,285
Jonah Energy LLC 7.25% 2025 200,000 201,750
Jordan (Hashemite Kingdom of) 5.75% 2027 1,035,000 1,017,439
Jupiter Resources Inc. 8.50% 2022 250,000 180,625
KfW 2.125% 2022 3,955,000 3,966,153
Kimco Realty Corp. 2.70% 2024 695,000 672,725
Kimco Realty Corp. 3.40% 2022 175,000 180,345
Kimco Realty Corp. 6.875% 2019 1,250,000 1,361,938
Kinder Morgan Energy Partners, LP 3.45% 2023 2,250,000 2,277,056
Kinder Morgan Energy Partners, LP 3.50% 2021 175,000 179,432
Kinder Morgan Energy Partners, LP 3.50% 2023 1,600,000 1,621,094
Kinder Morgan Energy Partners, LP 4.15% 2024 1,700,000 1,764,012
Kinder Morgan Energy Partners, LP 5.50% 2044 4,225,000 4,458,178
Kinder Morgan, Inc. 4.30% 2025 1,085,000 1,137,977
Kinetic Concepts, Inc. 12.50% 2021 375,000 419,063
Korea Housing Finance Corp. 2.00% 2021 2,525,000 2,456,974
Korea Housing Finance Corp. 2.50% 2020 2,250,000 2,244,375
Kraft Heinz Co. 4.375% 2046 825,000 811,752
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 9.561% 2024 425,000 439,556
Kuwait (State of) 2.75% 2022 3,550,000 3,594,961
LB-UBS Commercial Mortgage Trust, Series 2007-C7, Class AM, 6.303% 2045 478,747 479,488
LSC Communications, Inc. 8.75% 2023 300,000 310,125
Laboratory Corporation of America Holdings 3.60% 2025 875,000 893,558
Latvia (Republic of) 2.75% 2020 900,000 913,624
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 10.067% 2020 2,660,062 2,502,674
Lima Metro Line Finance Ltd. 5.875% 2034 2,000,000 2,210,000
Limited Brands, Inc. 6.875% 2035 275,000 269,500
Lithuania (Republic of) 6.125% 2021 450,000 506,285
Lithuania (Republic of) 6.625% 2022 200,000 234,966
Lithuania (Republic of) 7.375% 2020 2,475,000 2,780,856
Lloyds Banking Group PLC 6.50% 2020 2,290,000 3,120,653
Lloyds Banking Group PLC 7.625 % 2025 655,000 1,174,959
Lockheed Martin Corp. 2.50% 2020 205,000 208,174
Lockheed Martin Corp. 3.10% 2023 170,000 175,247
Lockheed Martin Corp. 3.55% 2026 270,000 279,850
MITSUBISHI UFJ TR&BK NY 4(2) CP 10/17/2017 10,000,000 9,993,940
Malaysia (Federation of), Series 0115, 3.955% 2025 28,150,000 6,660,147
Malaysia (Federation of), Series 0116, 3.80% 2023 31,663,000 7,514,565
Malaysia (Federation of), Series 0117, 3.882% 2022 17,437,000 4,179,388
Malaysia (Federation of), Series 0203, 4.24% 2018 669,000 159,107
Malaysia (Federation of), Series 0215, 3.795% 2022 6,000,000 1,428,999
Malaysia (Federation of), Series 0310, 4.498% 2030 42,250,000 10,163,344
Malaysia (Federation of), Series 0314, 4.048% 2021 7,600,000 1,831,380
Malaysia (Federation of), Series 0315, 3.659% 2020 43,260,000 10,321,954
Malaysia (Federation of), Series 0316, 3.90% 2026 19,000,000 4,477,399
Malaysia (Federation of), Series 0511, 3.58% 2018 5,486,000 1,305,077
Malaysia (Federation of), Series 0515, 3.759% 2019 14,650,000 3,501,081
Mallinckrodt PLC 4.875% 2020 785,000 785,000
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 4.50%) 5.5% 2024 250,000 251,469
McDonald's Corp. 3.70% 2026 650,000 678,151
McDonald's Corp. 4.875% 2045 430,000 485,504
Medtronic, Inc. 3.50% 2025 3,500,000 3,652,495
Meritage Homes Corp. 5.125% 2027 375,000 376,875
Merrill Lynch & Co., Inc. 4.625% 2018 4,625,000 5,710,680
Microsoft Corp. 3.30% 2027 2,510,000 2,604,675
MidAmerican Energy Co. 4.40% 2044 240,000 264,361
Molina Healthcare, Inc. 4.875% 2025 420,000 415,800
Molina Healthcare, Inc. 5.375% 2022 1,225,000 1,268,610
Morgan Stanley 2.125% 2018 775,000 777,303
Morgan Stanley 3.125% 2026 1,421,000 1,394,837
Morgan Stanley 3.875% 2026 1,580,000 1,641,462
Morocco (Kingdom of) 5.50% 2042 3,100,000 3,473,029
NGL Energy Partners LP 6.125% 2025 710,000 663,850
NGL Energy Partners LP 6.875% 2021 950,000 954,750
NGL Energy Partners LP 7.50% 2023 35,000 35,000
NGPL PipeCo LLC 4.375% 2022 50,000 52,000
NGPL PipeCo LLC 4.875% 2027 85,000 89,280
NN Group NV, 4.50% (undated) 3,470,000 4,496,056
NN Group NV, 4.625% 2044 2,335,000 3,117,509
NRG Energy, Inc. 6.25% 2022 805,000 849,275
NRG Energy, Inc. 6.625% 2027 175,000 184,188
National Highways Authority of India 7.17% 2021 220,000,000 3,385,966
National Highways Authority of India 7.27% 2022 50,000,000 771,623
National Rural Utilities Cooperative Finance Corp. 10.375% 2018 550,000 599,960
Navient Corp. 4.875% 2019 890,000 923,375
Navient Corp. 5.5% 2023 770,000 782,513
Navient Corp. 6.50% 2022 125,000 132,734
Navios Maritime Acquisition Corp. and Navios Acquisition Finance (US) Inc. 8.125% 2021 200,000 166,500
Newell Rubbermaid Inc. 3.85% 2023 580,000 610,380
Newell Rubbermaid Inc. 4.20% 2026 4,760,000 5,015,836
Newell Rubbermaid Inc. 5.50% 2046 495,000 586,515
Niagara Mohawk Power Corp. 3.508% 2024 180,000 185,804
Niagara Mohawk Power Corp. 4.278% 2034 300,000 321,537
Nigeria (Republic of) 0% 2018 443,770,000 1,056,899
Nigeria (Republic of) 0% 2018 339,870,000 820,590
Nigeria (Republic of) 0% 2018 763,285,000 1,863,186
Nigeria (Republic of) 0% 2018 266,265,000 638,904
Nigeria (Republic of) 0% 2018 1,412,255,000 3,342,979
Nigeria (Republic of) 0% 2018 88,755,000 214,960
Noble Corp. PLC 7.70% 2025 250,000 215,000
Noble Corp. PLC 8.70% 2045 650,000 542,750
Norway (Kingdom of) 3.75% 2021 305,750,000 42,304,214
Novelis Corp. 5.875% 2026 325,000 330,688
Nykredit Realkredit AS, Series 01E, 2.00% 2037 71,788,668 11,814,559
Nykredit Realkredit AS, Series 01E, 2.50% 2047 16,952,472 2,793,439
Odebrecht Offshore Drilling Finance Ltd. 6.75% 2022 1,074,970 389,677
PG&E Corp. 2.40% 2019 555,000 558,009
PNC Bank 2.30% 2020 865,000 871,856
PNC Bank 2.40% 2019 1,225,000 1,235,833
PNC Bank 2.60% 2020 275,000 279,239
PacifiCorp. 3.35% 2025 1,015,000 1,039,796
Pacific Gas and Electric Co. 2.95% 2026 590,000 587,477
Pacific Gas and Electric Co. 3.25% 2023 580,000 600,287
Pacific Gas and Electric Co. 3.75% 2042 630,000 636,227
Pacific Gas and Electric Co. 3.85% 2023 300,000 318,415
Pacific Gas and Electric Co. 4.25% 2046 1,900,000 2,048,529
Pakistan (Islamic Republic of) 5.50% 2021 3,535,000 3,640,046
Pakistan (Islamic Republic of) 8.25% 2024 2,240,000 2,551,808
Peabody Energy Corp. 6.00% 2022 150,000 155,438
Peabody Energy Corp. 6.375% 2025 100,000 103,125
Pernod Ricard SA 4.45% 2022 730,000 784,583
Peru (Republic of) 5.625% 2050 280,000 354,200
Peru (Republic of) 6.15% 2032 5,660,000 1,834,635
Petrobras Global Finance Co. 5.299% 2025 1,650,000 1,649,588
Petrobras Global Finance Co. 6.125% 2022 1,935,000 2,084,963
Petrobras Global Finance Co. 6.85% 2115 2,000,000 1,910,500
Petróleos Mexicanos 5.625% 2046 1,000,000 933,750
Petróleos Mexicanos 6.50% 2027 5,300,000 5,859,447
Petsmart, Inc. 5.875% 2025 550,000 482,625
Petsmart, Inc. 8.875% 2025 745,000 593,206
Philip Morris International Inc. 2.00% 2020 950,000 951,319
Philip Morris International Inc. 2.625% 2022 280,000 282,461
Philip Morris International Inc. 4.25% 2044 475,000 496,496
Phillips 66 Partners LP 4.68% 2045 110,000 106,805
Ply Gem Industries, Inc. 6.50% 2022 500,000 525,150
Poland (Republic of), Series 0420, 1.50% 2020 74,425,000 20,157,366
Poland (Republic of), Series 0725, 3.25% 2025 22,500,000 6,206,461
Poland (Republic of), Series 0922, 5.75% 2022 46,600,000 14,571,280
Poland (Republic of), Series 1017, 5.25% 2017 54,472,000 14,969,724
Poland (Republic of), Series 1020, 5.25% 2020 21,800,000 6,518,493
Poland (Republic of), Series 1021, 5.75% 2021 50,980,000 15,738,276
Poland (Republic of), Series 1023, 4.00% 2023 31,140,000 9,043,742
Portuguese Republic 2.875% 2025 10,000,000 12,598,463
Portuguese Republic 2.875% 2026 4,200,000 5,248,823
Portuguese Republic 4.125% 2027 32,040,000 43,455,132
Progress Energy, Inc. 7.05% 2019 910,000 975,654
Progress Energy, Inc. 7.75% 2031 550,000 779,560
Prologis, Inc. 4.25% 2023 2,075,000 2,256,098
Public Service Enterprise Group Inc., Series E, 5.30% 2018 1,520,000 1,552,365
Puget Energy, Inc. 5.625% 2022 480,000 535,995
Puget Energy, Inc. 6.00% 2021 1,023,000 1,146,392
Puget Energy, Inc. 6.50% 2020 335,000 374,460
QGOG Constellation SA 9.50% 2024 2,150,000 1,655,500
QUEBEC PROVINCE 4(2) CP 12/4/2017 25,000,000 24,947,900
Qorvo, Inc. 7.00% 2025 375,000 429,375
Quebec (Province of) 2.375% 2022 1,748,000 1,758,733
Quintiles Transnational Corp. 4.875% 2023 400,000 418,000
R.R. Donnelley & Sons Co. 6.50% 2023 625,000 609,375
R.R. Donnelley & Sons Co. 7.875% 2021 300,000 318,000
RCI Banque 3.50% 2018 1,500,000 1,511,379
Rabobank Nederland 3.875% 2023 2,950,000 4,072,424
Rabobank Nederland 4.625% 2023 3,795,000 4,082,054
Rayonier Advanced Materials Inc. 5.50% 2024 350,000 340,813
Realkredit Danmark AS, Series 22S, 2.00% 2037 70,490,920 11,615,538
Reynolds American Inc. 2.30% 2018 230,000 231,048
Reynolds American Inc. 3.25% 2020 640,000 657,992
Reynolds American Inc. 4.00% 2022 455,000 481,043
Reynolds American Inc. 4.45% 2025 2,575,000 2,766,899
Reynolds American Inc. 5.70% 2035 50,000 58,780
Reynolds American Inc. 5.85% 2045 420,000 515,409
Reynolds Group Inc. 5.75% 2020 415,000 422,802
Roche Holdings, Inc. 2.375% 2027 725,000 689,004
Roche Holdings, Inc. 2.875% 2021 1,250,000 1,281,021
Roche Holdings, Inc. 3.35% 2024 3,050,000 3,163,420
Royal Dutch Shell PLC 1.375% 2019 2,000,000 1,987,570
Royal Dutch Shell PLC 1.75% 2021 1,740,000 1,717,232
Ryerson Inc. 11.00% 2022 835,000 937,288
SM Energy Co. 5.625% 2025 450,000 429,750
SM Energy Co. 6.50% 2021 375,000 380,625
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 250,000 257,500
Saudi Arabia (Kingdom of) 2.894% 2022 1,900,000 1,911,400
Saudi Arabia (Kingdom of) 3.625% 2028 3,840,000 3,800,310
Saudi Arabia (Kingdom of) 3.628% 2027 1,900,000 1,942,087
Scentre Group 3.75% 2027 300,000 304,517
Scentre Group, 3.50% 2025 600,000 603,928
Schlumberger BV 4.00% 2025 1,460,000 1,532,250
Scientific Games Corp. 7.00% 2022 325,000 345,719
Shire PLC 1.90% 2019 2,000,000 1,996,766
Shire PLC 2.40% 2021 4,350,000 4,337,772
Shire PLC 2.875% 2023 445,000 443,244
Shire PLC 3.20% 2026 405,000 399,863
Sierra Pacific Power Co., General and Refunding Mortgage Notes, Series T, 3.375% 2023 2,450,000 2,546,839
Sirius XM Radio Inc 3.875% 2022 300,000 308,310
Skandinaviska Enskilda Banken AB 2.625% 2021 2,250,000 2,271,164
Skandinaviska Enskilda Banken AB 2.80% 2022 5,100,000 5,182,676
Slovenia (Republic of) 4.75% 2018 1,010,000 1,028,437
SoftBank Group Corp. 4.50% 2020 1,425,000 1,473,692
Solera Holdings, Inc. 10.50% 2024 150,000 171,518
Sotheby's Holdings, Inc. 5.25% 2022 300,000 309,000
South Africa (Republic of), Series R-2023, 7.75% 2023 28,730,000 2,109,749
South Africa (Republic of), Series R-214, 6.50% 2041 116,850,000 6,126,129
Southwestern Energy Co. 4.10% 2022 1,240,000 1,202,800
Southwestern Energy Co. 7.50% 2026 155,000 161,200
Southwestern Energy Co. 7.75% 2027 235,000 244,106
Spain (Kingdom of) 1.30% 2026 13,400,000 15,725,442
Spain (Kingdom of) 3.80% 2024 6,150,000 8,668,372
Starwood Property Trust, Inc. 5.00% 2021 350,000 366,188
State Grid Overseas Investment Ltd. 3.50% 2027 5,600,000 5,714,638
Statoil ASA 3.70% 2024 1,950,000 2,064,488
Statoil ASA 4.25% 2041 1,000,000 1,046,040
Sunoco LP 6.25% 2021 630,000 661,721
Svenska Handelsbanken AB 2.656% 2024 2,170,000 2,645,958
Sweden (Kingdom of) 1.125% 2019 3,000,000 2,969,475
TI Automotive Ltd. 8.75% 2023 325,000 346,125
Talen Energy Corp. 4.625% 2019 350,000 346,500
Targa Resources Partners LP 4.125% 2019 1,000,000 1,011,250
Targa Resources Partners LP 6.75% 2024 390,000 425,100
Teco Finance, Inc. 5.15% 2020 75,000 80,031
Teekay Corp. 8.50% 2020 2,100,000 2,142,000
Tenet Healthcare Corp. 4.375% 2021 100,000 101,875
Tenet Healthcare Corp. 4.50% 2021 1,925,000 1,972,548
Tenet Healthcare Corp. 4.625% 2024 421,000 417,316
Tenet Healthcare Corp. 4.75% 2020 175,000 181,125
Tenet Healthcare Corp., 6.00% 2020 100,000 106,821
Tennessee Valley Authority 5.25% 2039 1,300,000 1,711,151
Tennessee Valley Authority 5.88% 2036 500,000 689,460
Tesoro Logistics LP 5.25% 2025 300,000 322,500
Tesoro Logistics LP 5.50% 2019 520,000 549,900
Teva Pharmaceutical Finance Company BV 1.40% 2018 380,000 378,646
Teva Pharmaceutical Finance Company BV 2.20% 2021 270,000 259,894
Teva Pharmaceutical Finance Company BV 2.80% 2023 135,000 129,224
Teva Pharmaceutical Finance Company BV 3.15% 2026 145,000 133,879
Teva Pharmaceutical Finance Company BV 4.10% 2046 140,000 118,327
Thailand (Kingdom of) 1.875% 2022 258,200,000 7,793,405
Thailand (Kingdom of) 2.125% 2026 110,000,000 3,252,187
Thailand (Kingdom of) 3.85% 2025 65,000,000 2,189,726
Thermo Fisher Scientific Inc. 2.40% 2019 390,000 392,758
Transocean Inc. 9.00% 2023 350,000 378,875
Trilogy International Partners, LLC 8.875% 2022 950,000 992,750
Turkey (Republic of) 10.50% 2020 11,450,000 3,166,389
Turkey (Republic of) 11.00% 2022 26,500,000 7,497,158
Turkey (Republic of) 6.25% 2022 1,880,000 2,066,534
Turkey (Republic of) 6.75% 2040 210,000 233,933
Turkey (Republic of) 9.20% 2021 10,450,000 2,773,850
U.S. Treasury 1.125% 2021 43,160,000 42,308,453
U.S. Treasury 1.375% 2020 3,450,000 3,431,094
U.S. Treasury 1.375% 2020 5,900,000 5,858,287
U.S. Treasury 1.375% 2020 66,325,000 65,861,388
U.S. Treasury 1.375% 2021 5,000,000 4,932,250
U.S. Treasury 1.625% 2020 2,500,000 2,501,100
U.S. Treasury 1.625% 2020 540,000 540,351
U.S. Treasury 1.75% 2020 10,300,000 10,316,995
U.S. Treasury 1.75% 2021 6,000,000 5,979,840
U.S. Treasury 1.875% 2022 2,650,000 2,644,303
U.S. Treasury 2.0% 2021 23,450,000 23,636,897
U.S. Treasury 2.00% 2026 55,335,000 53,881,903
U.S. Treasury 2.25% 2025 15,750,000 15,739,448
U.S. Treasury 2.25% 2027 20,450,000 20,311,145
U.S. Treasury 3.00% 2047 16,225,000 16,680,923
U.S. Treasury Inflation-Protected Security 0.125% 2022 121,727,942 121,699,404
U.S. Treasury Inflation-Protected Security 0.125% 2024 7,010,868 6,940,325
U.S. Treasury Inflation-Protected Security 0.25% 2025 11,472,849 11,355,722
U.S. Treasury Inflation-Protected Security 0.375% 2025 5,677,815 5,676,820
U.S. Treasury Inflation-Protected Security 0.375% 2027 1,824,228 1,801,219
U.S. Treasury Inflation-Protected Security 0.625% 2024 32,761,270 33,455,090
U.S. Treasury Inflation-Protected Security 0.625% 2026 9,993,813 10,124,618
U.S. Treasury Inflation-Protected Security 0.625% 2043 1,277,760 1,193,844
U.S. Treasury Inflation-Protected Security 0.75% 2042 677,138 654,275
U.S. Treasury Inflation-Protected Security 0.75% 2045 696,539 664,227
U.S. Treasury Inflation-Protected Security 1.00% 2046 24,383,284 24,730,393
U.S. Treasury Inflation-Protected Security 1.375% 2044 6,134,453 6,767,439
U.S. Treasury Inflation-Protected Security 2.375% 2025 1,493,563 1,705,810
Ultra Petroleum Corp. 6.875% 2022 455,000 464,669
Ultra Petroleum Corp. 7.125% 2025 250,000 252,813
UniCredit SPA 3.75% 2022 1,750,000 1,795,220
UniCredit SPA 4.625% 2027 1,350,000 1,419,802
Unisys Corp. 10.75% 2022 425,000 472,813
United Kingdom 2.25% 2023 1,550,000 2,238,246
United Kingdom 3.25% 2044 9,000,000 15,280,382
United Kingdom 3.50% 2045 3,290,000 5,856,957
United Kingdom 4.25% 2027 4,800,000 8,195,526
United Mexican States 4.00% 2019 407,019 2,273,819
United Mexican States 4.00% 2040 407,019 2,396,859
United Mexican States 4.75% 2044 3,200,000 3,305,600
United Mexican States, Series M, 5.75% 2026 6,095,000 31,242,481
United Mexican States, Series M, 6.50% 2021 3,283,000 17,934,627
United Mexican States, Series M, 7.75% 2042 230,000 1,339,267
United Mexican States, Series M, 8.00% 2020 925,000 5,246,594
United Mexican States, Series M20, 10.00% 2024 2,095,000 13,633,607
United Mexican States, Series M30, 10.00% 2036 350,000 2,483,597
United Mexican States, Series M30, 8.50% 2038 270,000 1,690,161
UnitedHealth Group Inc. 2.70% 2020 520,000 530,459
UnitedHealth Group Inc. 3.75% 2025 485,000 515,022
Uruguay (Oriental Republic of) 8.50% 2028 138,077,000 4,889,892
Uruguay (Oriental Republic of) 9.875% 2022 57,826,000 2,162,748
VPI Escrow Corp. 6.375% 2020 2,250,000 2,257,740
VRX Escrow Corp. 6.125% 2025 1,325,000 1,167,656
Vale SA 6.25% 2026 1,310,000 1,493,400
Various Purpose G.O. Bonds, 7.60% 2040 4,210,000 6,591,808
Various Purpose G.O. Bonds, 7.625% 2040 285,000 437,002
Venator Materials Corp. 5.75% 2025 150,000 156,375
Verizon Communications Inc. 4.125% 2046 1,814,000 1,654,742
Verizon Communications Inc. 4.50% 2033 1,920,000 1,974,173
Virgin Australia Holdings Ltd. 8.50% 2019 325,000 343,281
Volkswagen Group of America Finance, LLC 2.45% 2019 545,000 549,333
WAL-MART STORES 4(2) CP 10/30/2017 9,800,000 9,790,670
WEA Finance LLC 2.70% 2019 1,185,000 1,195,862
WEA Finance LLC 3.25% 2020 3,030,000 3,095,633
WEA Finance LLC 3.75% 2024 535,000 546,028
WM. Wrigley Jr. Co 3.375% 2020 515,000 531,327
Weatherford International PLC 6.50% 2036 650,000 560,625
Weatherford International PLC 6.75% 2040 1,280,000 1,129,600
Weatherford International PLC 8.25% 2023 1,025,000 1,058,313
WellPoint, Inc. 2.30% 2018 585,000 587,637
Wells Fargo & Co. 3.584% 2028 900,000 912,331
Western Gas Partners LP 3.95% 2025 2,900,000 2,917,096
Western Gas Partners LP 4.00% 2022 1,500,000 1,553,082
Westfield Corp. Ltd. 3.15% 2022 245,000 248,023
Williams Companies, Inc. 3.70% 2023 715,000 715,000
Williams Partners LP 4.125% 2020 375,000 392,843
Williams Partners LP 4.30% 2024 1,380,000 1,457,341
Williams Partners LP 4.50% 2023 760,000 809,702
Williams Partners LP 5.25% 2020 225,000 241,602
Wind Acquisition SA 7.375% 2021 2,000,000 2,081,250
Windstream Holdings, Inc. 7.75% 2021 1,675,000 1,256,250
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 643,000 664,701
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 150,000 152,999
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 400,000 417,500
Ziggo Bond Finance BV 5.50% 2027 1,200,000 1,232,628
Zimmer Holdings, Inc. 3.15% 2022 790,000 803,847
iHeartCommunications, Inc. 9.00% 2019 1,515,000 1,162,763
iStar Financial Inc. 4.00% 2017 400,000 400,360
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
Atrium Corp. 2 2 0.00
CEVA Group PLC 431 215,630 0.01
CEVA Group PLC, Series A-1, convertible preferred, (3-month USD-LIBOR + 3.00%) 0% 329 225,344 0.01
CEVA Group PLC, Series A-2, convertible preferred, (3-month USD-LIBOR + 2.00%) 0% 36 18,205 0.00
Corporate Risk Holdings Corp. 131 0 0.00
Corporate Risk Holdings I, Inc. 25,840 451,942 0.02
NII Holdings, Inc. 129,368 59,509 0.00
Warrior Met Coal, Inc. 23,443 541,500 0.02

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.