American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - Global Bond Fund

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

Fixed-Income Securities* Shares or Principal Amount Market Value
ACE INA Holdings Inc. 2.30% 2020 180,000 177,474
ACE INA Holdings Inc. 2.875% 2022 365,000 362,085
ACE INA Holdings Inc. 3.35% 2026 365,000 357,576
ACE INA Holdings Inc. 4.35% 2045 425,000 439,185
ADT Corp. 3.50% 2022 400,000 371,500
AES Corp. 5.50% 2025 350,000 349,125
ARGENT LETRAS DEL TESORO 0.0% 05-31-19 66,386,200 1,954,666
AT&T Inc. 4.250% 2027 3,775,000 3,703,781
AXA SA, junior subordinated 5.453% (undated) 300,000 388,673
AbbVie Inc. 2.50% 2020 3,155,000 3,125,643
AbbVie Inc. 2.90% 2022 1,170,000 1,139,407
AbbVie Inc. 3.20% 2022 200,000 197,180
AbbVie Inc. 3.20% 2026 2,007,000 1,863,993
AbbVie Inc. 4.50% 2035 410,000 380,742
Abbott Laboratories 2.90% 2021 420,000 416,111
Abbott Laboratories 3.40% 2023 137,000 136,726
Abbott Laboratories 3.75% 2026 793,000 784,908
Aetna Inc. 2.80% 2023 340,000 323,656
Alexandria Real Estate Equities, Inc. 2.75% 2020 180,000 178,619
Allergan PLC 3.00% 2020 2,820,000 2,809,583
Allergan PLC 3.80% 2025 2,809,000 2,747,132
Allergan PLC 4.75% 2045 130,000 124,018
Allianz SE, 4.75% (undated) (3-month EUR-EURIBOR + 3.60% on 10/24/2023) 4,200,000 5,297,041
Allison Transmission Holdings, Inc. 5.00% 2024 430,000 414,413
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 10.053% 2025 650,000 600,438
Altria Group, Inc. 4.50% 2043 350,000 292,524
Amazon.com, Inc. 2.80% 2024 2,920,000 2,840,094
Amazon.com, Inc. 3.15% 2027 980,000 947,189
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 350,000 314,563
American Campus Communities, Inc. 3.75% 2023 1,810,000 1,798,584
American Campus Communities, Inc. 4.125% 2024 1,195,000 1,201,509
American Energy (Permian Basin) (3-month USD-LIBOR + 6.50%) 9.082% 2019 150,000 52,500
American Energy (Permian Basin), 7.125% 2020 1,295,000 297,850
American Energy (Permian Basin), 7.375% 2021 340,000 76,500
Amgen Inc. 1.85% 2021 420,000 405,222
Anheuser-Busch InBev NV 3.30% 2023 635,000 618,859
Anheuser-Busch InBev NV 3.50% 2024 1,545,000 1,511,172
Anheuser-Busch InBev NV 3.75% 2022 775,000 776,090
Anheuser-Busch InBev NV 4.00% 2028 1,050,000 1,006,880
Apple Inc. 2.50% 2022 1,200,000 1,181,542
Apple Inc. 3.35% 2027 1,075,000 1,052,797
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 9.522% 2025 80,000 79,400
Argentina (Central Bank of) 0% 2019 48,145,800 1,479,147
Argentina (Central Bank of) 0% 2019 86,317,050 2,601,430
Argentina (Central Bank of) 0% 2020 5,481,100 160,091
Argentine Republic 2.50% 2021 100,066,702 2,092,199
Argentine Republic 6.875% 2021 3,575,000 3,243,455
Argentine Republic 6.875% 2048 1,695,000 1,188,619
Argentine Republic 7.50% 2026 2,200,000 1,769,625
Ascent Resources Marcellus Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 6.50%) 8.887% 2023 210,000 210,788
Assicurazioni Generali SPA 7.75% 2042 (3-month EUR-EURIBOR + 7.113% on 12/12/2022) 1,500,000 2,005,467
Associated Materials, LLC 9.00% 2024 465,000 451,050
AstraZeneca PLC 3.50% 2023 1,700,000 1,692,765
Australia (Commonwealth of), Series 128, 5.75% 2022 10,150,000 8,104,108
Australia (Commonwealth of), Series 133, 5.50% 2023 6,625,000 5,355,170
Autoridad del Canal de Panama 4.95% 2035 1,000,000 1,022,510
Avis Budget Group, Inc. 5.50% 2023 490,000 474,688
Aviva PLC, subordinated 6.125% 2043 (5 year EURO Mid Swap + 5.13% on 7/5/2023) 1,500,000 1,915,244
Aviva PLC, subordinated 6.875% 2058 470,000 668,481
Avon Products, Inc. 7.875% 2022 355,000 351,450
B&G Foods, Inc. 4.625% 2021 50,000 48,938
B&G Foods, Inc. 5.25% 2025 225,000 210,094
BANK OF NEW YORK THE CP 1/2/2019 17,600,000 17,597,751
Ball Corp. 4.375% 2020 300,000 301,875
Banco Bilbao Vizcaya Argentaria SA 3.50% 2024 (5 year EURO Mid Swap + 2.55% on 4/11/2019) 3,300,000 3,804,750
Banco Nacional de Comercio Exterior SNC 3.80% 2026 (UST Yield Curve Rate T Note Constant Maturity 5 year + 3.00% on 8/11/2021) 880,000 842,600
Bank of America Corp. 2.625% 2020 1,550,000 1,533,863
Bank of America Corp. 3.55% 2024 (3-month USD-LIBOR + 0.78% on 3/5/2023) 1,400,000 1,383,785
Bank of Thailand 1.34% 2020 35,000,000 1,069,393
Bank of Thailand 1.50% 2019 168,310,000 5,168,078
Banque Centrale de Tunisie 6.75% 2023 2,295,000 2,524,206
Barclays Bank PLC 6.00% 2021 1,000,000 1,234,641
Barclays Bank PLC 6.625% 2022 1,070,000 1,376,103
Bayer AG 3.375% 2024 840,000 793,074
Bayer US Finance II LLC 3.875% 2023 900,000 884,597
Bayer US Finance II LLC 4.25% 2025 203,000 197,957
Becton, Dickinson and Co. 2.675% 2019 353,000 349,730
Becton, Dickinson and Co. 3.70% 2027 1,430,000 1,354,297
Blackstone CQP Holdco LP, 6.50% 2021 2,595,000 2,614,569
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 150,000 145,125
Brandywine Operating Partnership, LP 3.95% 2023 190,000 189,136
Brazil (Federative Republic of) 0% 2021 14,000 2,999,765
Brazil (Federative Republic of) 0% 2022 75,000 14,641,023
Brazil (Federative Republic of) 10.00% 2025 57,090 15,395,276
British American Tobacco International Finance PLC 2.75% 2020 530,000 520,863
British American Tobacco International Finance PLC 3.50% 2022 385,000 376,963
British American Tobacco PLC 3.557% 2027 1,545,000 1,374,826
British American Tobacco PLC 4.39% 2037 1,190,000 977,900
Buenos Aires (City of) (Badlar Private Banks ARS Index + 3.75%) 47.661% 2028 13,568,000 309,894
CANADA (GOVERNMENT OF) CP 1/3/2019 20,000,000 19,995,960
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2023 625,000 609,375
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 475,000 466,688
CF Industries, Inc. 4.95% 2043 545,000 424,419
CHINA DEV BANK (BOND CONNECT) CNY 4.04% 07-06-28 10,000,000 1,486,749
CHINA DEV BANK (BOND CONNECT) CNY UNSEC 4.73% 04-02-25 49,000,000 7,528,627
CMS Energy Corp. 3.00% 2026 1,200,000 1,130,777
CMS Energy Corp. 3.875% 2024 100,000 100,421
CMS Energy Corp. 5.05% 2022 392,000 409,417
CONSOL Energy Inc. 5.875% 2022 1,917,000 1,845,113
CVR Partners, LP 9.25% 2023 275,000 287,031
CVS Health Corp. 2.80% 2020 430,000 426,210
CVS Health Corp. 3.125% 2020 1,000,000 998,181
CVS Health Corp. 3.35% 2021 520,000 518,534
CVS Health Corp. 3.50% 2022 430,000 427,381
CVS Health Corp. 3.70% 2023 710,000 703,033
CVS Health Corp. 4.10% 2025 670,000 665,024
CVS Health Corp. 4.30% 2028 2,670,000 2,619,353
CVS Health Corp. 5.05% 2048 2,410,000 2,355,934
Cablevision Systems Corp. 6.75% 2021 625,000 642,188
CaixaBank, SA 3.50% 2027 (5 year EURO Mid Swap + 3.35% on 2/15/2022) 1,300,000 1,533,677
Calpine Corp. 5.25% 2026 455,000 416,894
Canada 1.00% 2022 1,050,000 745,068
Canada 2.25% 2025 9,450,000 7,063,065
Canada 3.50% 2020 2,500,000 2,982,931
Centene Corp. 4.75% 2022 540,000 535,275
Centene Corp. 4.75% 2025 425,000 406,938
CenterPoint Energy Transition Bond Co. III, LLC, Series 2008, Class A2, 5.234% 2023 182,706 185,029
CenturyLink, Inc. 6.75% 2023 800,000 773,000
CenturyLink, Inc., Series T, 5.80% 2022 150,000 145,125
Chemours Co. 6.625% 2023 330,000 334,538
Chesapeake Energy Corp. 4.875% 2022 690,000 605,475
Chesapeake Energy Corp. 5.75% 2023 460,000 399,050
Chesapeake Energy Corp. 8.00% 2025 325,000 288,438
Chesapeake Energy Corp. 8.00% 2027 190,000 160,550
Chile (Banco Central de) 4.00% 2023 6,765,000,000 9,796,295
Chile (Banco Central de) 4.50% 2026 3,660,000,000 5,377,595
Cigna Corp. 3.40% 2021 750,000 748,742
Cigna Corp. 4.125% 2025 1,365,000 1,365,734
Cigna Corp. 4.375% 2028 1,370,000 1,381,150
Citigroup Inc. 2.35% 2021 1,500,000 1,458,035
Citigroup Inc. 2.55% 2019 2,800,000 2,796,175
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 1,415,000 1,384,931
Cleveland-Cliffs Inc. 4.875% 2024 775,000 722,688
Cleveland-Cliffs Inc. 5.75% 2025 1,050,000 947,625
Colombia (Republic of) 3.875% 2027 350,000 334,688
Colombia (Republic of), Series B, 6.25% 2025 24,560,000,000 7,508,803
Columbia (Republic of) 4.50% 2029 830,000 821,700
Columbia Pipeline Partners LP 3.30% 2020 85,000 84,724
Comcast Corp. 3.95% 2025 920,000 932,121
Comcast Corp. 4.15% 2028 1,825,000 1,856,479
Compass Diversified Holdings 8.00% 2026 315,000 312,441
Comstock Resources, Inc. 9.75% 2026 500,000 425,000
Conagra Brands, Inc. 4.30% 2024 2,380,000 2,368,257
Concordia International Corp. (3-month USD-LIBOR + 5.50%) 7.887% 2024 132,335 126,159
Concordia International Corp. 8.00% 2024 47,000 44,415
Consolidated Energy Finance SA 6.50% 2026 185,000 178,063
Consumers Energy Co. 3.375% 2023 345,000 346,324
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 2020 7,710 7,730
Continental Airlines, Inc., Series 2000-1, Class A-1, 8.048% 2022 44,674 46,161
Continental Airlines, Inc., Series 2000-2, Class A1, 7.707% 2022 12,702 13,248
Convey Park Energy LLC 7.50% 2025 275,000 237,875
Core Industrial Trust, Series 2015-CALW, Class A, 3.04% 2034 1,385,060 1,381,100
Cote d'Ivoire (Republic of) 5.25% 2030 900,000 911,923
Crédit Agricole SA 4.375% 2025 1,100,000 1,066,418
Czech Republic 0.45% 2023 91,820,000 3,850,032
DCP Midstream Operating LP 4.95% 2022 390,000 387,075
DP World Crescent 4.848% 2028 550,000 539,831
DaVita HealthCare Partners Inc. 5.00% 2025 280,000 255,150
DaimlerChrysler North America Holding Corp. 2.00% 2021 2,100,000 2,021,179
DaimlerChrysler North America Holding Corp. 2.25% 2020 2,000,000 1,973,294
DaimlerChrysler North America Holding Corp. 2.875% 2021 2,275,000 2,247,857
DaimlerChrysler North America Holding Corp. 3.00% 2021 6,425,000 6,356,664
Deutsche Telekom International Finance BV 1.95% 2021 575,000 552,032
Deutsche Telekom International Finance BV 2.82% 2022 1,675,000 1,639,125
Deutsche Telekom International Finance BV 4.375% 2028 890,000 878,515
Deutsche Telekom International Finance BV 7.50% 2033 200,000 380,698
Deutsche Telekom International Finance BV 9.25% 2032 1,930,000 2,750,590
Devon Energy Corp. 3.25% 2022 170,000 165,779
Diamond Offshore Drilling, Inc. 4.875% 2043 675,000 381,375
Diamond Offshore Drilling, Inc. 7.875% 2025 350,000 292,250
Diebold Nixdorf AG Term Loan B (3-month USD-LIBOR + 2.75%) 5.188% 2023 116,191 98,762
Dominican Republic 5.50% 2025 1,375,000 1,366,406
Dominican Republic 7.50% 2021 2,000,000 2,070,000
Dominican Republic 8.625% 2027 225,000 258,188
Duke Energy Corp. 2.65% 2026 2,695,000 2,459,023
Duke Energy Corp. 3.75% 2024 550,000 551,460
Duke Energy Progress, LLC 3.70% 2028 1,225,000 1,239,671
EGYPT T-BILL EGP 0% 04-09-19 43,800,000 2,332,195
EMD Finance LLC 2.40% 2020 1,485,000 1,470,128
EMD Finance LLC 2.95% 2022 225,000 221,837
EMD Finance LLC 3.25% 2025 2,950,000 2,834,472
Egypt (Arab Republic of) 0% 2019 3,000,000 166,484
Egypt (Arab Republic of) 0% 2019 34,800,000 1,798,581
Egypt (Arab Republic of) 0% 2019 37,300,000 2,077,006
Egypt (Arab Republic of) 0% 2019 49,200,000 2,610,223
Egypt (Arab Republic of) 0% 2019 62,000,000 3,192,941
Egypt (Arab Republic of) 5.625% 2030 745,000 741,118
Egypt (Arab Republic of) 5.75% 2020 1,800,000 1,820,479
Egypt (Arab Republic of) 7.50% 2027 2,200,000 2,104,918
Electricité de France SA 6.95% 2039 625,000 730,033
Enbridge Energy Partners, LP 4.375% 2020 480,000 485,717
Enbridge Energy Partners, LP 5.20% 2020 1,535,000 1,568,070
Enbridge Energy Partners, LP 9.875% 2019 750,000 757,733
Enbridge Inc. 3.70% 2027 754,000 715,836
Enbridge Inc. 4.00% 2023 600,000 603,576
Enbridge Inc. 4.25% 2026 655,000 649,095
Endo International PLC 5.75% 2022 830,000 695,125
Enel Finance International SA 2.75% 2023 5,000,000 4,617,125
Enel Finance International SA 3.50% 2028 1,800,000 1,546,987
Enel Finance International SA 3.625% 2027 2,375,000 2,099,942
Energy Transfer Partners, LP 4.00% 2027 1,054,000 968,706
Energy Transfer Partners, LP 4.20% 2027 260,000 243,046
Energy Transfer Partners, LP 5.875% 2024 325,000 332,599
Energy Transfer Partners, LP 6.00% 2048 230,000 225,008
Enersis Américas SA 4.00% 2026 1,960,000 1,835,658
Ensco PLC 7.75% 2026 475,000 353,875
Ensco PLC, 5.75% 2044 455,000 256,565
Essex Portfolio LP 3.375% 2026 885,000 847,642
Essex Portfolio LP 3.50% 2025 2,835,000 2,760,388
Euramax International, Inc. 12.00% 2020 300,000 308,625
European Financial Stability Facility 0.40% 2025 6,000,000 6,920,188
European Investment Bank 2.25% 2022 2,067,000 2,042,031
Exelon Corp. 3.40% 2026 1,465,000 1,395,722
Exelon Corp. 3.497% 2022 525,000 513,411
Extraction Oil & Gas, Inc. 5.625% 2026 400,000 294,000
Exxon Mobil Corp. 2.222% 2021 570,000 561,950
FED HM LN BK BD 1/10/2019 10,000,000 9,994,682
FS Energy and Power Fund 7.50% 2023 175,000 166,688
Fannie Mae 2048 4,668,453 4,765,075
Fannie Mae 3.50% 2042 340,100 342,965
Fannie Mae 3.50% 2042 710,150 716,134
Fannie Mae 3.50% 2042 232,481 234,319
Fannie Mae 3.50% 2049 15,500,000 15,503,364
Fannie Mae 4.00% 2048 152,351 155,457
Fannie Mae 4.00% 2049 17,329,192 17,672,067
Fannie Mae 4.50% 2049 13,050,000 13,521,718
Fannie Mae, Series 2012-M17, Class A2, Multi Family, 2.184% 2022 1,931,437 1,897,046
First Data Corp. 5.00% 2024 125,000 120,781
First Data Corp. 5.375% 2023 175,000 172,375
First Quantum Minerals Ltd. 6.875% 2026 525,000 423,281
First Quantum Minerals Ltd. 7.50% 2025 1,050,000 870,188
FirstEnergy Corp. 3.50% 2028 645,000 616,027
FirstEnergy Corp. 3.90% 2027 3,915,000 3,800,737
FirstEnergy Corp. 4.85% 2047 380,000 382,193
Ford Motor Credit Co. 2.375% 2019 2,550,000 2,545,889
Ford Motor Credit Co. 2.597% 2019 2,020,000 1,998,142
France Télécom 5.375% 2050 300,000 513,773
France Télécom 9.00% 2031 1,824,000 2,533,000
Freddie Mac, Series 3213, Class OG, principal only, 0% 2036 11,088 9,970
Freddie Mac, Series 3292, Class BO, principal only, 0% 2037 45,027 38,636
Freeport-McMoRan Inc. 3.55% 2022 1,100,000 1,043,625
French Republic O.A.T. 1.00% 2025 4,750,000 5,713,617
French Republic O.A.T. 2.00% 2048 1,490,000 1,856,312
Frontier Communications Corp. 10.50% 2022 600,000 420,000
Frontier Communications Corp. 11.00% 2025 1,700,000 1,066,665
General Mills, Inc. 3.20% 2021 455,000 452,851
Genesis Energy, LP 6.50% 2025 150,000 132,750
Genesis Energy, LP 6.75% 2022 475,000 465,500
Germany (Federal Republic of) 0.50% 2027 12,360,000 14,639,575
Germany (Federal Republic of) 0.50% 2028 11,000,000 12,976,331
Germany (Federal Republic of) 1.25% 2048 8,750,000 11,015,843
Germany (Federal Republic of) 1.75% 2024 5,270,000 6,670,956
Germany (Federal Republic of) 2.50% 2046 2,400,000 3,874,666
Germany (Federal Republic of) 4.75% 2040 200,000 414,980
Germany (Federal Republic of) 6.25% 2030 1,800,000 3,402,350
Gogo Inc. 12.50% 2022 2,035,000 2,183,718
Gogo Inc., convertible notes 6.00% 2022 110,000 100,619
Goldman Sachs Group, Inc. 2.00% 2019 850,000 847,102
Goldman Sachs Group, Inc. 2.875% 2021 2,152,000 2,116,221
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR + 0.99% on 7/24/2022) 1,200,000 1,143,820
Goldman Sachs Group, Inc. 3.50% 2025 5,190,000 4,925,694
Goldman Sachs Group, Inc. 3.75% 2026 580,000 549,585
Goldman Sachs Group, Inc. 4.75% 2045 1,805,000 1,727,105
Government National Mortgage Assn. 4.00% 2049 3,843,351 3,936,153
Government National Mortgage Assn. 4.00% 2049 3,397,649 3,476,770
Greece (Hellenic Republic of) 3.375% 2025 2,650,000 2,937,827
Greece (Hellenic Republic of) 3.50% 2023 1,605,499 1,856,245
Greece (Hellenic Republic of) 3.75% 2028 684,185 749,408
Greece (Hellenic Republic of) 3.90% 2033 3,614,749 3,776,388
Greece (Hellenic Republic of) 4.00% 2037 3,769,810 3,809,198
Greece (Hellenic Republic of) 4.20% 2042 3,759,124 3,790,911
Groupe BPCE SA 2.75% 2026 (5 year EURO Mid Swap + 1.83% on 7/8/2021) 3,300,000 3,904,957
Groupe BPCE SA 4.625% 2023 1,200,000 1,561,324
Groupe BPCE SA 5.70% 2023 1,800,000 1,867,151
H.I.G. Capital, LLC 6.75% 2024 318,000 280,635
HCA Inc. 5.875% 2023 250,000 253,750
HSBC Holdings PLC 3.033% 2023 (3-month USD-LIBOR + 0.923% on 11/12/2022) 1,180,000 1,142,695
HSBC Holdings PLC 3.375% 2024 (5 year EURO Mid Swap + 1.95% on 1/10/2019) 1,700,000 1,949,136
HSBC Holdings PLC 3.90% 2026 4,200,000 4,030,278
HSBC Holdings PLC 3.95% 2024 (3-month USD-LIBOR + 0.987% on 5/18/2023) 305,000 303,516
HSBC Holdings PLC 4.292% 2026 (3-month USD-LIBOR + 1.348% on 9/12/2025) 2,300,000 2,273,292
HUB International Ltd., 7.00% 2026 20,000 18,200
Halliburton Co. 3.80% 2025 870,000 844,987
Hanesbrands Inc. 4.625% 2024 85,000 80,113
Hanesbrands Inc. 4.875% 2026 350,000 317,188
Hardwoods Acquisition Inc 7.50% 2021 228,000 164,160
Harris Corp. 2.70% 2020 155,000 153,708
Healthsouth Corp. 5.75% 2025 620,000 607,600
Hertz Global Holdings Inc. 7.625% 2022 795,000 751,275
Holcim Ltd. 5.15% 2023 1,290,000 1,329,678
Honduras (Republic of) 8.75% 2020 2,155,000 2,297,230
Humana Inc. 3.85% 2024 1,000,000 1,000,390
Hungary 3.875% 2020 1,000,000 1,197,922
Huntsman International LLC 4.875% 2020 145,000 146,088
Husky Energy Inc. 7.25% 2019 250,000 258,164
Hyundai Capital America 2.55% 2020 2,580,000 2,547,825
Hyundai Capital America 3.25% 2022 658,000 640,444
Hyundai Capital Services Inc. 2.625% 2020 500,000 491,482
Hyundai Capital Services Inc. 3.75% 2023 2,450,000 2,420,034
Icahn Enterprises Finance Corp. 6.25% 2022 400,000 396,000
Imperial Tobacco Finance PLC 3.50% 2023 2,000,000 1,944,292
India (Republic of) 6.79% 2027 589,000,000 8,114,305
India (Republic of) 6.97% 2026 431,000,000 6,024,240
India (Republic of) 7.35% 2024 30,000,000 429,535
India (Republic of) 7.59% 2026 438,600,000 6,354,250
India (Republic of) 7.59% 2029 95,800,000 1,376,658
India (Republic of) 7.61% 2030 167,270,000 2,407,524
India (Republic of) 7.80% 2021 236,600,000 3,440,130
India (Republic of) 7.88% 2030 25,000,000 366,773
India (Republic of) 8.83% 2023 884,200,000 13,507,116
Indonesia (Republic of) 3.75% 2022 1,110,000 1,100,928
Indonesia (Republic of) 4.75% 2026 3,500,000 3,553,494
Indonesia (Republic of), Series 64, 6.125% 2028 18,142,000,000 1,113,374
Indonesia (Republic of), Series 74, 7.5% 2032 28,000,000,000 1,827,886
Indonesia (Republic of), Series 78, 8.25% 2029 80,188,000,000 5,718,871
Infor Software 7.125% 2021 325,000 317,688
Inmarsat PLC 4.875% 2022 1,000,000 946,210
Intelsat Jackson Holding Co. 8.50% 2024 900,000 877,500
International Paper Co. 7.30% 2039 600,000 709,989
Intesa Sanpaolo SpA 5.017% 2024 2,510,000 2,273,837
Intesa Sanpaolo SpA 6.625% 2023 1,885,000 2,453,118
Iraq (Republic of) 6.752% 2023 545,000 520,419
Ireland (Republic of) 0.90% 2028 8,090,000 9,274,920
Iron Mountain Inc. 4.875% 2027 135,000 118,463
Israel (State of) 2.00% 2027 28,300,000 7,517,543
Israel (State of) 5.50% 2042 29,300,000 10,802,346
Italy (Republic of) 1.35% 2022 12,950,000 14,891,174
Italy (Republic of) 2.05% 2027 7,330,000 8,092,698
Italy (Republic of) 4.50% 2024 2,500,000 3,222,370
Italy (Republic of) 4.75% 2023 2,900,000 3,773,918
JPMorgan Chase & Co. 2.55% 2021 6,039,000 5,955,456
JPMorgan Chase & Co. 2.604% 2021 (3-month USD-LIBOR + 0.28% on 2/1/2020) 1,700,000 1,686,572
JPMorgan Chase & Co. 3.25% 2022 1,000,000 992,525
Jaguar Holding Co. 6.375% 2023 225,000 215,570
Japan, Series 116, 2.20% 2030 1,735,000,000 19,560,220
Japan, Series 134, 0.10% 2022 550,000,000 5,067,944
Japan, Series 145, 1.70% 2033 2,210,000,000 24,308,387
Japan, Series 18, 0.10% 2024 1,958,855,800 18,300,884
Japan, Series 19, 0.10% 2024 2,426,236,300 22,734,144
Japan, Series 20, 0.10% 2025 680,050,000 6,387,670
Japan, Series 21, 0.10% 2026 988,952,250 9,329,550
Japan, Series 21, 2.30% 2035 720,000,000 8,636,617
Japan, Series 336, 0.50% 2024 800,000,000 7,580,713
Japan, Series 337, 0.30% 2024 354,600,000 3,320,836
Japan, Series 340, 0.40% 2025 435,000,000 4,112,638
Japan, Series 344, 0.10% 2026 605,000,000 5,616,915
Japan, Series 346, 0.10% 2027 3,125,000,000 28,990,038
Japan, Series 394, 0.10% 2020 840,000,000 7,697,996
Japan, Series 395, 0.10% 2020 5,380,000,000 49,305,991
Japan, Series 42, 1.70% 2044 450,000,000 5,123,878
Japan, Series 53, 0.60% 2046 501,600,000 4,463,945
Japan, Series 57, 0.80% 2047 969,050,000 9,049,082
Japan, Series 59, 0.70% 2048 930,000,000 8,449,386
Japan, Series 758, 0% 2019 11,900,000,000 108,639,004
Jonah Energy LLC 7.25% 2025 350,000 227,500
Jordan (Hashemite Kingdom of) 5.75% 2027 1,035,000 953,063
Kazahkstan (Republic of) 1.55% 2023 1,245,000 1,436,427
Kenya (Republic of) 5.875% 2019 700,000 702,423
Keurig Dr. Pepper Inc. 4.597% 2028 2,050,000 2,039,584
Keurig Dr. Pepper Inc. 5.085% 2048 1,075,000 1,027,417
KfW 2.125% 2022 3,955,000 3,890,019
Kinder Morgan Energy Partners, LP 3.50% 2021 175,000 174,644
Kinder Morgan Energy Partners, LP 3.50% 2023 525,000 514,019
Kinder Morgan, Inc. 4.30% 2028 2,185,000 2,149,135
Kinetic Concepts, Inc. 12.50% 2021 310,000 333,250
Korea Housing Finance Corp. 2.00% 2021 2,525,000 2,434,875
Korea Housing Finance Corp. 2.50% 2020 2,250,000 2,215,125
Kraft Heinz Co. 4.375% 2046 825,000 683,033
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 9.25% 2024 425,000 420,949
Kuwait (State of) 2.75% 2022 3,550,000 3,490,296
LSB Industries, Inc. 9.625% 2023 185,000 188,700
LSC Communications, Inc. 8.75% 2023 275,000 283,594
Liberty Global PLC 5.50% 2028 375,000 340,313
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 11.516% 2020 796,564 545,646
Lima Metro Line Finance Ltd. 5.875% 2034 2,000,000 1,997,470
Limited Brands, Inc. 5.25% 2028 160,000 137,000
Limited Brands, Inc. 6.875% 2035 50,000 42,010
Lloyds Banking Group PLC 6.50% 2020 1,090,000 1,332,186
Lloyds Banking Group PLC 7.625 % 2025 655,000 1,037,801
Lockheed Martin Corp. 2.50% 2020 205,000 202,805
MGM Resorts International 7.75% 2022 200,000 213,250
Malaysia (Federation of), Series 0215, 3.795% 2022 6,000,000 1,453,751
Malaysia (Federation of), Series 0310, 4.498% 2030 42,250,000 10,327,025
Malaysia (Federation of), Series 0314, 4.048% 2021 7,600,000 1,858,516
Malaysia (Federation of), Series 0316, 3.90% 2026 6,250,000 1,489,457
Mallinckrodt PLC 4.875% 2020 960,000 931,200
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 3.75%) 6.272% 2024 391,932 383,309
McDonald's Corp. 3.35% 2023 1,420,000 1,414,123
Medtronic, Inc. 3.50% 2025 3,500,000 3,490,575
Meredith Corp. 6.875% 2026 75,000 73,500
Meritage Homes Corp. 5.125% 2027 250,000 213,125
Microsoft Corp. 2.40% 2026 2,688,000 2,518,030
Molina Healthcare, Inc. 4.875% 2025 482,000 441,633
Molina Healthcare, Inc. 5.375% 2022 925,000 896,094
Morgan Stanley 3.875% 2026 1,580,000 1,543,237
Morocco (Kingdom of) 5.50% 2042 3,100,000 3,180,616
NGL Energy Partners LP 6.125% 2025 860,000 743,900
NN Group NV, 4.50% (undated) (3-month EUR-LIBOR + 4.00% on 1/15/2026) 350,000 400,967
NN Group NV, 4.625% 2044 (3-month EUR-LIBOR + 3.95% on 4/8/2024) 1,320,000 1,592,881
National Highways Authority of India 7.17% 2021 220,000,000 3,076,427
National Highways Authority of India 7.27% 2022 50,000,000 702,644
Navient Corp. 5.50% 2023 1,670,000 1,467,513
Navient Corp. 6.125% 2024 175,000 150,938
Niagara Mohawk Power Corp. 3.508% 2024 180,000 181,054
Nigeria (Republic of) 0% 2019 378,000,000 1,020,502
Nigeria (Republic of) 0% 2019 827,000,000 2,238,560
Nigeria (Republic of) 0% 2019 1,048,000,000 2,646,328
Nigeria (Republic of) 0% 2019 448,000,000 1,104,690
Nigeria (Republic of) 6.50% 2027 465,000 412,557
Noble Corp. PLC 7.95% 2025 250,000 189,063
Noble Corp. PLC 8.95% 2045 400,000 306,000
Norway (Kingdom of) 3.75% 2021 23,500,000 2,885,577
Nova Chemicals Corp. 5.25% 2027 500,000 444,375
Novelis Corp. 5.875% 2026 175,000 155,313
Nykredit Realkredit AS, Series 01E, 1.50% 2037 107,827,416 16,675,068
Nykredit Realkredit AS, Series 01E, 1.50% 2040 284,656,394 43,453,073
Nykredit Realkredit AS, Series 01E, 2.00% 2037 22,078,278 3,528,662
Nykredit Realkredit AS, Series 01E, 2.50% 2047 12,937,219 2,076,626
Odebrecht Drilling Norbe 7.72% 2026 11,865 3,174
Oracle Corp. 2.65% 2026 2,327,000 2,159,887
Oracle Corp. 3.25% 2027 1,880,000 1,816,383
Owens & Minor, Inc. 3.875% 2021 400,000 300,000
Owens & Minor, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 0% 2025 234,413 181,670
PNC Bank 2.30% 2020 865,000 853,402
PNC Bank 2.40% 2019 1,225,000 1,217,921
PNC Bank 2.60% 2020 275,000 272,604
PT Indonesia Asahan Aluminium Tbk 5.23% 2021 1,020,000 1,034,854
PT Indonesia Asahan Aluminium Tbk 5.71% 2023 385,000 392,331
Pacific Gas and Electric Co. 2.95% 2026 590,000 488,277
Pacific Gas and Electric Co. 3.25% 2023 580,000 515,970
Pacific Gas and Electric Co. 3.30% 2027 2,409,000 1,996,230
Pacific Gas and Electric Co. 3.30% 2027 750,000 616,142
Pacific Gas and Electric Co. 3.75% 2042 630,000 471,242
Pacific Gas and Electric Co. 3.85% 2023 300,000 269,972
Pacific Gas and Electric Co. 3.95% 2047 1,250,000 956,931
Pacific Gas and Electric Co. 4.65% 2028 542,000 479,874
Pacific Gas and Electric Co. 6.35% 2038 1,566,000 1,488,112
Pakistan (Islamic Republic of) 5.50% 2021 3,535,000 3,421,795
Pakistan (Islamic Republic of) 6.75% 2019 1,900,000 1,888,621
Pakistan (Islamic Republic of) 8.25% 2024 2,240,000 2,265,222
Panama (Republic of) 4.50% 2050 1,230,000 1,180,800
Paraguay (Republic of) 4.625% 2023 947,000 952,564
Paraguay (Republic of) 4.70% 2027 350,000 347,375
Paraguay (Republic of) 5.00% 2026 235,000 238,231
Paraguay (Republic of) 5.60% 2048 2,340,000 2,310,750
Peabody Energy Corp. 6.00% 2022 150,000 146,063
Peabody Energy Corp. 6.375% 2025 50,000 46,625
Pernod Ricard SA 4.45% 2022 730,000 745,060
Peru (Republic of) 5.625% 2050 280,000 329,420
Peru (Republic of) 6.15% 2032 29,300,000 8,864,944
Petrobras Global Finance Co. 5.299% 2025 1,650,000 1,579,875
Petrobras Global Finance Co. 6.125% 2022 657,000 675,889
Petroleos Mexicanos 6.35% 2048 927,000 743,009
Petróleos Mexicanos 6.50% 2027 2,675,000 2,521,188
Petróleos Mexicanos 7.47% 2026 590,000 2,214,930
Petsmart Inc., Term Loan B-2, (3-month USD-LIBOR + 3.00%) 5.38% 2022 721,263 571,601
Petsmart, Inc. 5.875% 2025 1,545,000 1,123,988
Petsmart, Inc. 8.875% 2025 365,000 213,525
Philip Morris International Inc. 2.00% 2020 950,000 938,187
Philip Morris International Inc. 2.625% 2022 280,000 271,137
Philip Morris International Inc. 4.25% 2044 475,000 434,756
Pisces Parent, LLC 8.00% 2026 250,000 229,688
Platform Specialty Products Corp. 5.875% 2025 200,000 188,000
Poland (Republic of) 3.25% 2026 4,590,000 4,502,629
Poland (Republic of) 4.00% 2024 980,000 1,004,725
Poland (Republic of), Series 0420, 1.50% 2020 27,750,000 7,448,673
Poland (Republic of), Series 0725, 3.25% 2025 34,750,000 9,720,640
Poland (Republic of), Series 0922, 5.75% 2022 34,600,000 10,513,274
Poland (Republic of), Series 1020, 5.25% 2020 23,200,000 6,633,637
Poland (Republic of), Series 1021, 5.75% 2021 101,030,000 29,970,060
Poland (Republic of), Series 1023, 4.00% 2023 31,140,000 9,027,010
Portuguese Republic 2.875% 2025 6,500,000 8,295,921
Progress Energy, Inc. 7.05% 2019 910,000 916,921
Progress Energy, Inc. 7.75% 2031 550,000 733,785
Prologis, Inc. 4.25% 2023 2,075,000 2,144,149
Puget Energy, Inc. 5.625% 2022 480,000 508,670
Puget Energy, Inc. 6.00% 2021 1,023,000 1,082,781
Puget Energy, Inc. 6.50% 2020 335,000 354,007
QGOG Constellation SA 9.50% 2024 2,163,823 897,987
QUEBEC (PROVINCE OF) 4(2) CP 1/22/2019 15,000,000 14,977,620
Qatar (State of) 3.875% 2023 475,000 481,141
Qatar (State of) 4.50% 2028 3,205,000 3,353,084
Qatar (State of) 5.103% 2048 530,000 557,891
Quebec (Province of) 2.375% 2022 1,748,000 1,728,562
R.R. Donnelley & Sons Co. 6.50% 2023 225,000 223,313
R.R. Donnelley & Sons Co. 7.875% 2021 93,000 93,465
Rabobank Nederland 2.50% 2026 (5 year EURO Mid Swap + 1.40% on 5/26/2021) 2,400,000 2,848,776
Rabobank Nederland 4.625% 2023 2,180,000 2,212,635
Rayonier Advanced Materials Inc. 5.50% 2024 225,000 199,125
Realogy Corp. 4.875% 2023 80,000 70,000
Realogy Corp. 5.25% 2021 225,000 214,031
Reynolds American Inc. 3.25% 2020 640,000 636,195
Reynolds American Inc. 4.00% 2022 455,000 450,432
Reynolds American Inc. 4.45% 2025 2,115,000 2,043,052
Roche Holdings, Inc. 2.875% 2021 1,250,000 1,242,964
Roche Holdings, Inc. 3.35% 2024 3,050,000 3,061,767
Romania (Republic of) 2.875% 2029 5,170,000 5,753,581
Romania 2.30% 2020 28,650,000 6,870,886
Romania 3.25% 2021 11,910,000 2,899,346
Romania 3.375% 2038 4,170,000 4,272,676
Romania 3.40% 2022 3,250,000 784,125
Romania 3.875% 2035 2,810,000 3,142,768
Romania 5.125% 2048 6,200,000 5,990,812
Romania 5.95% 2021 15,290,000 3,940,958
Rotech Healthcare Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 6.087% 2023 490,625 486,549
Ryerson Inc. 11.00% 2022 685,000 691,850
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 500,000 461,875
Santander Holdings USA, Inc. 3.70% 2022 4,475,000 4,397,999
Santander Holdings USA, Inc. 4.45% 2021 3,750,000 3,817,328
Saskatchewan (Province of) 3.05% 2028 3,000,000 2,230,838
Saudi Arabia (Kingdom of) 2.894% 2022 1,900,000 1,853,545
Saudi Arabia (Kingdom of) 3.625% 2028 3,840,000 3,640,992
Saudi Arabia (Kingdom of) 3.628% 2027 1,900,000 1,836,151
Saudi Arabia (Kingdom of) 4.50% 2030 3,115,000 3,103,883
Saudi Arabia (Kingdom of) 5.00% 2049 1,620,000 1,564,907
Scentre Group 3.50% 2025 600,000 581,986
Scentre Group 3.75% 2027 300,000 290,085
Schlumberger BV 4.00% 2025 935,000 924,708
Shell International Finance BV 1.375% 2019 2,000,000 1,978,498
Shell International Finance BV 1.75% 2021 1,740,000 1,681,969
Shell International Finance BV 3.50% 2023 3,808,000 3,852,755
Shire PLC 1.90% 2019 2,000,000 1,972,352
Shire PLC 2.40% 2021 3,930,000 3,802,554
Shire PLC 2.875% 2023 818,000 774,060
Shire PLC 3.20% 2026 405,000 367,300
Sierra Pacific Power Co., General and Refunding Mortgage Notes, Series T, 3.375% 2023 2,004,000 2,003,517
Sirius XM Radio Inc. 3.875% 2022 425,000 408,914
Skandinaviska Enskilda Banken AB 2.625% 2021 2,250,000 2,221,605
Skandinaviska Enskilda Banken AB 2.80% 2022 2,100,000 2,058,468
South Africa (Republic of) 5.50% 2020 1,900,000 1,929,332
South Africa (Republic of), Series 2044, 8.75% 2044 126,800,000 7,848,601
South Africa (Republic of), Series R-186, 10.50% 2026 19,900,000 1,506,003
South Africa (Republic of), Series R-214, 6.50% 2041 168,450,000 8,175,143
South Korea (Republic of), Series 2203, 1.875% 2022 1,540,000,000 1,380,533
South Korea (Republic of), Series 2209, 2.00% 2022 8,274,200,000 7,445,935
Spain (Kingdom of) 1.45% 2027 18,230,000 21,194,312
Spain (Kingdom of) 1.50% 2027 10,350,000 12,130,772
Spain (Kingdom of) 2.70% 2048 6,025,000 7,038,784
Spain (Kingdom of) 2.90% 2046 1,120,000 1,376,211
Sri Lanka (Democratic Socialist Republic of) 5.75% 2022 1,600,000 1,512,275
Sri Lanka (Republic of) 6.25% 2020 1,900,000 1,852,593
Staples Inc. 8.50% 2025 260,000 235,872
Starwood Property Trust, Inc. 5.00% 2021 350,000 344,750
State Grid Overseas Investment Ltd. 3.50% 2027 5,600,000 5,403,199
Statoil ASA 3.70% 2024 1,950,000 1,987,616
Statoil ASA 4.25% 2041 1,000,000 995,469
Sunoco LP 4.875% 2023 130,000 127,075
Svenska Handelsbanken AB 2.656% 2024 (5 year EURO Mid Swap + 1.43% on 1/15/2019) 2,170,000 2,488,025
Sweden (Kingdom of) 1.125% 2019 3,000,000 2,965,548
Takeda Pharmaceutical Co. Ltd. 3.80% 2020 1,625,000 1,635,221
Takeda Pharmaceutical Co., Ltd. 2.25% 2026 2,275,000 2,665,871
Takeda Pharmaceutical Co., Ltd. 4.40% 2023 2,075,000 2,099,850
Talen Energy Corp. 10.50% 2026 85,000 72,675
Talen Energy Corp. 9.50% 2022 360,000 363,600
Targa Resources Partners LP 6.75% 2024 190,000 193,563
Team Health Holdings, Inc. 6.375% 2025 620,000 509,175
Teco Finance, Inc. 5.15% 2020 75,000 76,711
Teekay Corp. 8.50% 2020 1,325,000 1,270,344
Teekay Offshore Partners L.P. 8.50% 2023 400,000 392,000
Tenet Healthcare Corp. 4.375% 2021 250,000 243,125
Tenet Healthcare Corp. 4.50% 2021 825,000 806,438
Tenet Healthcare Corp. 4.625% 2024 421,000 393,109
Tenet Healthcare Corp. 4.75% 2020 175,000 175,236
Tenet Healthcare Corp., 6.00% 2020 430,000 436,988
Teva Pharmaceutical Finance Co. BV 2.80% 2023 1,280,000 1,103,469
Teva Pharmaceutical Finance Co. BV 3.15% 2026 2,420,000 1,850,956
Teva Pharmaceutical Finance Company BV 2.20% 2021 270,000 248,328
Teva Pharmaceutical Finance Company BV 6.00% 2024 230,000 222,099
Thailand (Kingdom of) 1.875% 2022 258,200,000 7,897,494
Thailand (Kingdom of) 2.125% 2026 317,750,000 9,552,350
Thailand (Kingdom of) 3.775% 2032 40,000,000 1,355,495
Thailand (Kingdom of) 3.85% 2025 65,000,000 2,186,094
Transocean Inc. 9.00% 2023 219,000 218,726
Trilogy International Partners, LLC 8.875% 2022 800,000 776,000
Tronox Ltd. 6.50% 2026 125,000 104,219
Turkey (Republic of) 10.70% 2022 9,240,000 1,424,104
Turkey (Republic of) 11.00% 2022 22,320,000 3,542,522
Turkey (Republic of) 6.25% 2022 1,880,000 1,896,841
Turkey (Republic of) 7.0% 2020 1,800,000 1,840,685
Turkey (Republic of) 7.25% 2023 1,085,000 1,116,959
Turkey (Republic of) 9.50% 2022 540,000 82,237
U.S. Treasury 1.875% 2024 9,400,000 9,075,794
U.S. Treasury 2.00% 2026 33,560,000 32,039,396
U.S. Treasury 2.125% 2022 8,555,000 8,438,909
U.S. Treasury 2.25% 2027 27,700,000 26,783,407
U.S. Treasury 2.375% 2023 3,175,000 3,160,998
U.S. Treasury 2.50% 2020 7,900,000 7,895,418
U.S. Treasury 2.625% 2023 6,900,000 6,936,639
U.S. Treasury 2.75% 2023 4,800,000 4,852,128
U.S. Treasury 2.75% 2025 10,140,000 10,243,732
U.S. Treasury 2.75% 2028 62,500,000 62,881,250
U.S. Treasury 2.75% 2047 17,800,000 16,871,730
U.S. Treasury 2.875% 2025 5,400,000 5,497,470
U.S. Treasury 2.875% 2028 19,850,000 20,171,173
U.S. Treasury 2.875% 2028 43,500,000 44,216,880
U.S. Treasury 3.00% 2048 10,600,000 10,559,402
U.S. Treasury 3.00% 2048 23,800,000 23,724,078
U.S. Treasury Inflation-Protected Security 0.125% 2024 7,241,388 6,949,396
U.S. Treasury Inflation-Protected Security 0.25% 2025 11,850,027 11,348,518
U.S. Treasury Inflation-Protected Security 0.375% 2025 5,864,430 5,657,157
U.S. Treasury Inflation-Protected Security 0.375% 2027 3,820,711 3,630,268
U.S. Treasury Inflation-Protected Security 0.50% 2028 1,845,180 1,761,982
U.S. Treasury Inflation-Protected Security 0.625% 2023 6,961,863 6,853,590
U.S. Treasury Inflation-Protected Security 0.625% 2024 27,336,080 26,927,133
U.S. Treasury Inflation-Protected Security 0.625% 2026 10,322,449 10,058,900
U.S. Treasury Inflation-Protected Security 0.625% 2043 1,319,772 1,159,492
U.S. Treasury Inflation-Protected Security 0.75% 2042 699,394 635,902
U.S. Treasury Inflation-Protected Security 1.00% 2046 4,769,778 4,530,391
U.S. Treasury Inflation-Protected Security 1.375% 2044 5,750,235 5,954,126
U.S. Treasury Inflation-Protected Security 2.375% 2025 1,542,656 1,667,832
Uber Technologies, Inc. 8.00% 2026 375,000 362,813
Ultra Petroleum Corp. 11.00% 2024 618,000 478,950
UniCredit SpA 3.75% 2022 1,750,000 1,686,043
UniCredit SpA 4.625% 2027 2,150,000 1,971,649
Union Pacific Corp. 4.50% 2048 260,000 257,784
Unisys Corp. 10.75% 2022 225,000 247,219
United Kingdom 1.25% 2027 5,925,000 7,590,951
United Kingdom 1.50% 2047 4,460,000 5,262,052
United Kingdom 1.75% 2022 5,700,000 7,506,171
United Kingdom 2.25% 2023 1,550,000 2,097,410
United Kingdom 2.75% 2024 1,210,000 1,694,201
United Kingdom 3.25% 2044 6,500,000 10,597,050
United Kingdom 3.50% 2045 890,000 1,519,011
United Kingdom 4.25% 2027 2,800,000 4,500,836
United Mexican States 4.15% 2027 1,910,000 1,849,663
United Mexican States, Series M, 5.75% 2026 6,115,000 26,315,807
United Mexican States, Series M, 6.50% 2022 1,711,000 8,179,680
United Mexican States, Series M, 7.50% 2027 1,130,000 5,345,085
United Mexican States, Series M, 7.75% 2042 449,000 2,019,703
United Mexican States, Series M, 8.00% 2020 925,000 4,676,553
United Mexican States, Series M, 8.00% 2023 3,010,000 14,960,589
United Mexican States, Series M20, 10.00% 2024 1,620,000 8,763,791
United Mexican States, Series M30, 10.00% 2036 350,000 1,961,891
United Technologies Corp. 4.125% 2028 1,900,000 1,890,428
UnitedHealth Group Inc. 2.70% 2020 520,000 518,173
Uruguay (Oriental Republic of) 8.50% 2028 95,641,000 2,506,700
Valeant Pharmaceuticals International, Inc. 6.125% 2025 1,350,000 1,181,250
Valeant Pharmaceuticals International, Inc. 9.00% 2025 110,000 109,863
Valeant Pharmaceuticals International, Inc. 9.25% 2026 670,000 671,675
Venator Materials Corp. 5.75% 2025 245,000 197,225
Veritas Holdings Limited 7.50% 2023 200,000 164,000
Verizon Communications Inc. 4.125% 2046 1,814,000 1,608,935
Vine Oil & Gas LP 8.75% 2023 175,000 139,125
Virgin Australia Holdings Ltd. 8.50% 2019 100,000 101,175
Volkswagen Group of America Finance, LLC 2.45% 2019 545,000 539,927
Volkswagen Group of America Finance, LLC 3.875% 2020 1,900,000 1,909,749
Volkswagen Group of America Finance, LLC 4.00% 2021 1,900,000 1,905,084
Volkswagen Group of America Finance, LLC 4.25% 2023 4,400,000 4,368,404
Volkswagen Group of America Finance, LLC 4.625% 2025 1,280,000 1,267,758
WEA Finance LLC 2.70% 2019 1,185,000 1,179,894
WEA Finance LLC 3.25% 2020 530,000 529,301
WEA Finance LLC 3.75% 2024 535,000 531,748
WM. Wrigley Jr. Co. 3.375% 2020 515,000 516,479
Warrior Met Coal, Inc. 8.00% 2024 250,000 248,750
Weatherford International PLC 4.50% 2022 160,000 94,400
Weatherford International PLC 6.50% 2036 650,000 341,250
Weatherford International PLC 8.25% 2023 500,000 303,750
Weatherford International PLC 9.875% 2024 525,000 325,500
Weatherford International PLC 9.875% 2025 325,000 199,063
Wells Fargo & Co. 3.584% 2028 (3-month USD-LIBOR + 1.31% on 5/15/2027) 900,000 865,479
Westfield Corp. Ltd. 3.15% 2022 245,000 241,407
Williams Partners LP 4.125% 2020 375,000 378,060
Williams Partners LP 4.30% 2024 820,000 818,024
Wind Tre SpA 5.00% 2026 400,000 331,504
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 768,000 724,800
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 175,000 163,625
Ziggo Bond Finance BV 5.50% 2027 850,000 762,875
Zimmer Holdings, Inc. 3.15% 2022 790,000 772,945
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
Advanz Pharma Corp. 9,130 152,601 0.01
Advanz Pharma Corp. 6,028 113,206 0.01
Associated Materials, LLC, 14.00% convertible preferred 2020 850 1,032,647 0.05
Associated Materials, LLC, warrants, expire 2023 12,075 0 0.00
CEVA Logistics AG 9,337 283,412 0.01
Corporate Risk Holdings Corp. 131 3 0.00
Corporate Risk Holdings I, Inc. 25,840 9,093 0.00
NCI Building Systems, Inc. 9 57 0.00
Tribune Resources, Inc. 158,988 476,964 0.02
Tribune Resources, Inc., Class A, warrants, expire 2023 53,128 18,260 0.00
Tribune Resources, Inc., Class B, warrants, expire 2023 41,322 10,872 0.00
Tribune Resources, Inc., Class C, warrants, expire 2023 39,060 8,183 0.00
Ultra Petroleum Corp., warrants, expire 2025 12,320 3,080 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.