American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - Global Bond Fund

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

Fixed-Income Securities* Shares or Principal Amount Market Value
ACE INA Holdings Inc. 2.30% 2020 180,000 176,018
ACE INA Holdings Inc. 2.875% 2022 365,000 358,731
ACE INA Holdings Inc. 3.35% 2026 365,000 354,346
ACE INA Holdings Inc. 4.35% 2045 425,000 435,644
ADT Corp. 3.50% 2022 400,000 376,400
AES Corp. 5.50% 2025 633,000 640,913
AES Corp. 6.00% 2026 425,000 442,000
AT&T Inc. 4.250% 2027 3,775,000 3,701,565
AXA SA, junior subordinated 5.453% (undated) 300,000 417,529
AbbVie Inc. 2.50% 2020 3,155,000 3,117,304
AbbVie Inc. 2.90% 2022 1,170,000 1,136,147
AbbVie Inc. 3.20% 2022 200,000 196,839
AbbVie Inc. 3.20% 2026 3,157,000 2,949,042
AbbVie Inc. 3.60% 2025 1,055,000 1,023,003
AbbVie Inc. 4.50% 2035 410,000 402,965
Abbott Laboratories 2.35% 2019 96,000 95,467
Abbott Laboratories 2.90% 2021 420,000 413,806
Abbott Laboratories 3.40% 2023 195,000 192,555
Abbott Laboratories 3.75% 2026 1,400,000 1,378,054
Aetna Inc. 2.80% 2023 340,000 324,499
Alexandria Real Estate Equities, Inc. 2.75% 2020 180,000 178,591
Allergan PLC 3.00% 2020 2,820,000 2,807,036
Allergan PLC 3.80% 2025 4,455,000 4,331,057
Allergan PLC 4.55% 2035 720,000 684,667
Allergan PLC 4.75% 2045 130,000 125,509
Allianz SE, 4.75% (undated) (3-month EUR-EURIBOR + 3.60% on 10/24/2023) 4,200,000 5,466,478
Allison Transmission Holdings, Inc. 5.00% 2024 430,000 424,088
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.557% 2025 1,150,000 1,111,427
Altria Group, Inc. 4.50% 2043 350,000 336,170
Amazon.com, Inc. 2.80% 2024 2,920,000 2,787,803
Amazon.com, Inc. 3.15% 2027 1,960,000 1,885,340
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 450,000 444,938
American Campus Communities, Inc. 3.75% 2023 1,810,000 1,801,688
American Campus Communities, Inc. 4.125% 2024 1,195,000 1,190,069
American Energy (Permian Basin) (3-month USD-LIBOR + 6.50%) 8.854% 2019 150,000 129,375
American Energy (Permian Basin), 7.125% 2020 1,295,000 822,325
American Energy (Permian Basin), 7.375% 2021 340,000 209,100
Amgen Inc. 1.85% 2021 420,000 401,948
Anheuser-Busch InBev NV 3.30% 2023 635,000 630,150
Anheuser-Busch InBev NV 3.50% 2024 1,545,000 1,538,910
Anheuser-Busch InBev NV 3.75% 2022 775,000 785,973
Anheuser-Busch InBev NV 4.00% 2028 1,050,000 1,049,243
Apple Inc. 2.50% 2022 1,200,000 1,177,180
Apple Inc. 3.35% 2027 1,075,000 1,050,509
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 9.334% 2025 80,000 82,767
Argentine Republic 2.50% 2021 78,875,709 2,346,834
Argentine Republic 6.875% 2021 3,575,000 3,534,781
Argentine Republic 6.875% 2048 1,695,000 1,284,827
Argentine Republic 7.50% 2026 2,200,000 2,037,750
Ascent Resources Marcellus Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 6.50%) 8.501% 2023 210,000 210,875
Assicurazioni Generali SPA 7.75% 2042 (3-month EUR-EURIBOR + 7.113% on 12/12/2022) 1,500,000 2,050,170
Associated Materials, LLC 9.00% 2024 1,065,000 1,120,913
Australia (Commonwealth of), Series 128, 5.75% 2022 12,150,000 10,231,811
Australia (Commonwealth of), Series 133, 5.50% 2023 6,625,000 5,620,346
Autoridad del Canal de Panama 4.95% 2035 1,000,000 1,046,250
Avis Budget Group, Inc. 5.50% 2023 450,000 440,438
Aviva PLC, subordinated 6.125% 2043 (5 year EURO Mid Swap + 5.13% on 07/05/2023) 1,500,000 2,073,859
Aviva PLC, subordinated 6.875% 2058 470,000 752,424
Avon Products, Inc. 7.875% 2022 345,000 343,689
B&G Foods, Inc. 4.625% 2021 50,000 49,375
B&G Foods, Inc. 5.25% 2025 225,000 212,625
BJ's Wholesale Club, Term Loan, (3-month USD-LIBOR + 7.50%) 9.53% 2025 224,151 226,840
Ball Corp. 4.375% 2020 300,000 303,375
Banco Bilbao Vizcaya Argentaria SA 3.50% 2024 (5 year EURO Mid Swap + 2.55% on 04/11/2019) 3,300,000 3,934,888
Banco Nacional de Comercio Exterior SNC 3.80% 2026 (UST Yield Curve Rate T Note Constatnt Maturity 5 year + 3.0% on 08/11/2021) 880,000 848,760
Bank of America Corp. 2.625% 2020 1,550,000 1,531,141
Bank of America Corp. 3.55% 2024 (3-month USD-LIBOR +0.780 on 03/05/2023) 1,400,000 1,386,099
Bank of Thailand 1.34% 2020 35,000,000 1,050,127
Bank of Thailand 1.49% 2019 31,690,000 955,245
Bank of Thailand 1.50% 2019 168,310,000 5,078,237
Barclays Bank PLC 6.00% 2021 1,000,000 1,307,277
Barclays Bank PLC 6.625% 2022 1,070,000 1,475,083
Bayer AG 3.375% 2024 840,000 810,237
Becton, Dickinson and Co. 2.675% 2019 353,000 350,465
Becton, Dickinson and Co. 3.70% 2027 1,430,000 1,354,583
Belgium (Kingdom of), Series 77, 1.00% 2026 6,480,000 7,932,166
Belgium (Kingdom of), Series 82, 0.50% 2024 12,920,000 15,431,740
Blackstone CQP Holdco LP, 6.00% 2021 225,000 225,563
Blackstone CQP Holdco LP, 6.50% 2021 3,120,000 3,135,600
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 375,000 371,171
Brandywine Operating Partnership, LP 3.95% 2023 190,000 189,240
Brazil (Federative Republic of) 0% 2021 27,600 5,404,145
Brazil (Federative Republic of) 0.0% 2022 20,900 3,851,888
Brazil (Federative Republic of) 10.00% 2025 28,190 6,850,117
British American Tobacco International Finance PLC 2.75% 2020 530,000 524,445
British American Tobacco International Finance PLC 3.50% 2022 385,000 381,580
British American Tobacco PLC 3.557% 2027 1,545,000 1,439,665
British American Tobacco PLC 4.39% 2037 1,190,000 1,119,182
Buenos Aires (City of) (Badlar Private Banks ARS Index + 3.75%) 29% 2028 13,568,000 386,579
CAISSE DAMORTISSEMENT DE LA DETTE CP 7/9/2018 16,100,000 16,092,127
CCO Holdings LLC and CCO Holdings Capital Corp. 4.20% 2028 675,000 632,908
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 575,000 529,000
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2023 200,000 197,940
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 800,000 788,000
CF Industries, Inc. 4.95% 2043 545,000 460,868
CIT Group Inc. 3.875% 2019 987,500 991,450
CMS Energy Corp. 3.875% 2024 100,000 100,377
CMS Energy Corp. 5.05% 2022 392,000 411,258
CONSOL Energy Inc. 5.875% 2022 2,275,000 2,292,495
CVR Partners, LP 9.25% 2023 275,000 284,281
CVS Health Corp. 1.90% 2018 430,000 429,915
CVS Health Corp. 2.80% 2020 430,000 426,564
CVS Health Corp. 3.125% 2020 1,000,000 999,081
CVS Health Corp. 3.35% 2021 520,000 519,722
CVS Health Corp. 3.50% 2022 430,000 426,939
CVS Health Corp. 3.70% 2023 2,935,000 2,908,215
CVS Health Corp. 4.10% 2025 670,000 667,300
CVS Health Corp. 4.30% 2028 4,275,000 4,223,529
CVS Health Corp. 4.78% 2038 675,000 669,322
CVS Health Corp. 5.05% 2048 4,295,000 4,354,542
Cablevision Systems Corp. 6.75% 2021 1,125,000 1,181,250
CaixaBank, SA 3.50% 2027 (5 year EURO Mid Swap +3.35% on 02/15/2022) 1,300,000 1,596,040
CaixaBank, SA 5.00% 2023 (5 year EURO Mid Swap + 3.95% on 11/14/2018) 2,300,000 2,731,770
Calpine Corp. 5.25% 2026 855,000 809,044
Canada 1.00% 2022 4,050,000 2,953,945
Canada 2.25% 2025 15,450,000 11,838,438
Canada 3.50% 2020 2,500,000 3,101,397
Centene Corp. 4.75% 2022 1,465,000 1,481,481
Centene Corp. 4.75% 2025 150,000 149,625
Centene Corp. 5.375% 2026 300,000 304,689
CenterPoint Energy Transition Bond Co. III, LLC, Series 2008, Class A2, 5.234% 2023 235,849 240,788
CenturyLink, Inc. 6.75% 2023 1,100,000 1,108,250
CenturyLink, Inc., Series T, 5.80% 2022 150,000 149,250
Chemours Co. 6.625% 2023 680,000 714,000
Chesapeake Energy Corp. 4.875% 2022 1,400,000 1,351,000
Chesapeake Energy Corp. 8.00% 2025 450,000 459,428
Chesapeake Energy Corp. 8.00% 2027 590,000 601,800
Chile (Republic of) 3.86% 2047 750,000 712,500
Citigroup Inc. 2.35% 2021 1,500,000 1,449,885
Citigroup Inc. 2.50% 2018 200,000 199,955
Citigroup Inc. 2.55% 2019 2,800,000 2,795,696
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 1,965,000 1,960,657
Cleveland-Cliffs Inc. 4.875% 2024 400,000 387,000
Cleveland-Cliffs Inc. 5.75% 2025 2,200,000 2,092,750
Colombia (Republic of), Series B, 6.25% 2025 16,460,000,000 5,557,921
Columbia Pipeline Partners LP 3.30% 2020 85,000 84,684
Commercial Mortgage Trust, Series 2014-UBS2, Class A1, 1.298% 2047 263,151 262,298
Compass Diversified Holdings 8.00% 2026 315,000 308,700
Concordia Healthcare Corp. 7.00% 2023 1,090,000 68,125
Concordia Healthcare Corp. 9.50% 2022 580,000 36,250
Concordia Healthcare Corp., Term Loan B, (3-month USD-LIBOR + 4.25%) 6.343% 2021 282,315 251,614
Consolidated Energy Finance SA 6.50% 2026 185,000 183,381
Consumers Energy Co. 3.375% 2023 345,000 344,511
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 2020 8,190 8,364
Continental Airlines, Inc., Series 2000-1, Class A-1, 8.048% 2022 44,945 47,126
Continental Airlines, Inc., Series 2000-2, Class A1, 7.707% 2022 13,156 14,085
Convey Park Energy LLC 7.50% 2025 275,000 281,875
Core Industrial Trust, Series 2015-CALW, Class A, 3.04% 2034 1,460,000 1,449,798
Corporate Risk Holdings LLC 13.50% 2020 165,949 177,565
Corporate Risk Holdings LLC 9.50% 2019 1,353,000 1,415,576
Cote d'Ivoire (Republic of) 5.25% 2030 900,000 1,009,788
Crédit Agricole SA 4.375% 2025 1,100,000 1,065,745
Czech Republic 0.45% 2023 91,820,000 3,897,431
DCP Midstream Operating LP 4.95% 2022 640,000 648,800
DaVita HealthCare Partners Inc. 5.00% 2025 480,000 453,000
DaimlerChrysler North America Holding Corp. 2.00% 2021 2,100,000 2,010,221
DaimlerChrysler North America Holding Corp. 2.25% 2020 2,000,000 1,967,558
DaimlerChrysler North America Holding Corp. 2.875% 2021 2,275,000 2,238,864
DaimlerChrysler North America Holding Corp. 3.00% 2021 6,425,000 6,352,905
Deutsche Telekom International Finance BV 1.95% 2021 575,000 548,530
Deutsche Telekom International Finance BV 2.82% 2022 1,675,000 1,628,259
Deutsche Telekom International Finance BV 3.60% 2027 890,000 840,470
Deutsche Telekom International Finance BV 7.50% 2033 200,000 394,858
Deutsche Telekom International Finance BV 9.25% 2032 1,930,000 2,766,643
Devon Energy Corp. 3.25% 2022 170,000 167,217
Diamond Offshore Drilling, Inc. 4.875% 2043 675,000 489,375
Diamond Offshore Drilling, Inc. 7.875% 2025 350,000 364,000
Dominican Republic 5.50% 2025 1,375,000 1,369,143
Dominican Republic 7.50% 2021 2,000,000 2,101,500
Dominican Republic 8.625% 2027 225,000 255,938
Duke Energy Corp. 2.65% 2026 2,695,000 2,430,804
Duke Energy Corp. 3.75% 2024 550,000 548,572
EMD Finance LLC 2.40% 2020 1,485,000 1,464,893
EMD Finance LLC 2.95% 2022 225,000 220,075
EMD Finance LLC 3.25% 2025 2,450,000 2,345,454
EchoStar Corp. 6.625% 2026 100,000 92,750
Egypt (Arab Republic of) 0% 2018 34,200,000 1,915,816
Egypt (Arab Republic of) 0% 2018 32,200,000 1,662,107
Egypt (Arab Republic of) 0% 2018 55,500,000 2,863,080
Egypt (Arab Republic of) 0% 2018 40,100,000 2,140,730
Egypt (Arab Republic of) 0% 2018 2,700,000 150,229
Egypt (Arab Republic of) 0% 2018 45,200,000 2,397,124
Egypt (Arab Republic of) 18.40% 2024 41,000,000 2,423,824
Egypt (Arab Republic of) 5.625% 2030 745,000 783,936
Egypt (Arab Republic of) 7.50% 2027 2,200,000 2,168,003
Electricité de France SA 6.95% 2039 625,000 793,587
Enbridge Energy Partners, LP 4.375% 2020 480,000 488,708
Enbridge Energy Partners, LP 5.20% 2020 1,535,000 1,579,036
Enbridge Energy Partners, LP 9.875% 2019 750,000 782,451
Enbridge Inc. 3.70% 2027 754,000 715,577
Enbridge Inc. 4.00% 2023 600,000 602,429
Enbridge Inc. 4.25% 2026 655,000 649,970
Endo International PLC 5.75% 2022 780,000 702,000
Endo International PLC 6.00% 2025 300,000 235,500
Enel Finance International SA 2.75% 2023 5,000,000 4,656,515
Enel Finance International SA 3.50% 2028 1,800,000 1,620,040
Enel Finance International SA 3.625% 2027 2,375,000 2,175,678
Energy Transfer Partners, LP 4.00% 2027 1,054,000 986,446
Energy Transfer Partners, LP 4.20% 2027 260,000 245,263
Energy Transfer Partners, LP 5.50% 2027 575,000 576,438
Energy Transfer Partners, LP 5.875% 2024 600,000 616,500
Energy Transfer Partners, LP 6.00% 2048 230,000 230,060
Enersis Américas SA 4.00% 2026 1,960,000 1,871,996
Ensco PLC 7.75% 2026 525,000 497,936
Ensco PLC, 5.75% 2044 1,030,000 731,300
Envision Healthcare Corp. 5.125% 2022 190,000 192,613
Equinix, Inc. 5.375% 2027 200,000 200,000
Essex Portfolio LP 3.375% 2026 885,000 841,354
Essex Portfolio LP 3.50% 2025 2,835,000 2,740,158
Euramax International, Inc. 12.00% 2020 575,000 606,625
European Financial Stability Facility 0.40% 2025 6,000,000 7,033,699
European Investment Bank 2.25% 2022 3,567,000 3,484,781
Exelon Corp. 3.40% 2026 1,465,000 1,393,288
Exelon Corp. 3.497% 2022 525,000 519,785
Extraction Oil & Gas, Inc. 5.625% 2026 400,000 383,524
Exxon Mobil Corp. 2.222% 2021 570,000 559,685
Fannie Mae 3.50% 2042 364,605 365,899
Fannie Mae 3.50% 2042 760,122 762,560
Fannie Mae 3.50% 2042 254,894 255,672
Fannie Mae 3.50% 2048 6,250,000 6,219,194
Fannie Mae 4.00% 2048 4,034,352 4,112,990
Fannie Mae 4.00% 2048 9,497,662 9,669,066
Fannie Mae 4.00% 2048 2,667,986 2,713,738
Fannie Mae 4.50% 2048 886,688 923,351
Fannie Mae 4.50% 2048 5,830,096 6,060,227
Fannie Mae 4.50% 2048 6,333,216 6,573,308
Fannie Mae, Series 2012-M17, Class A2, Multi Family, 2.184% 2022 2,000,000 1,934,766
First Data Corp. 5.00% 2024 125,000 124,531
First Data Corp. 5.375% 2023 175,000 177,056
First Quantum Minerals Ltd. 6.875% 2026 525,000 504,000
First Quantum Minerals Ltd. 7.00% 2021 1,431,000 1,447,993
First Quantum Minerals Ltd. 7.50% 2025 1,375,000 1,362,144
FirstEnergy Corp. 3.50% 2028 645,000 612,677
FirstEnergy Corp. 3.90% 2027 3,915,000 3,803,685
FirstEnergy Corp. 4.85% 2047 380,000 389,738
Ford Motor Credit Co. 2.375% 2019 2,550,000 2,540,542
Ford Motor Credit Co. 2.597% 2019 2,020,000 2,004,858
France Telecom 5.375% 2050 300,000 542,578
France Télécom 9.00% 2031 1,824,000 2,507,166
Freddie Mac, Series 3213, Class OG, principal only, 0% 2036 12,332 10,983
Freddie Mac, Series 3292, Class BO, principal only, 0% 2037 47,083 40,178
Freeport-McMoRan Inc. 3.55% 2022 1,450,000 1,381,125
French Republic O.A.T. 2.00% 2048 1,490,000 1,932,399
French Republic O.A.T. 2.25% 2024 11,680,000 15,457,339
French Republic O.A.T. 3.25% 2045 1,200,000 1,968,322
Frontier Communications Corp. 10.50% 2022 375,000 342,188
Frontier Communications Corp. 11.00% 2025 2,175,000 1,750,223
General Mills, Inc. 3.20% 2021 455,000 452,907
Genesis Energy, LP 6.50% 2025 350,000 337,750
Genesis Energy, LP 6.75% 2022 425,000 431,375
Genesys Telecommunications Laboratories, Inc. 10.00% 2024 75,000 83,897
Germany (Federal Republic of) 0.50% 2028 5,680,000 6,754,205
Germany (Federal Republic of) 1.25% 2048 17,050,000 21,083,130
Germany (Federal Republic of) 1.75% 2024 5,270,000 6,832,787
Germany (Federal Republic of) 2.50% 2046 7,370,000 11,824,485
Germany (Federal Republic of) 4.75% 2040 200,000 418,696
Germany (Federal Republic of) 6.25% 2030 1,800,000 3,493,942
Gogo Inc. 12.50% 2022 2,185,000 2,337,950
Goldman Sachs Group, Inc. 2.00% 2019 850,000 844,294
Goldman Sachs Group, Inc. 2.875% 2021 2,152,000 2,125,199
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR +0.990 on 07/24/2022) 2,200,000 2,120,360
Goldman Sachs Group, Inc. 3.50% 2025 5,970,000 5,768,441
Goldman Sachs Group, Inc. 3.75% 2026 580,000 562,699
Goldman Sachs Group, Inc. 4.75% 2045 1,805,000 1,789,439
Government National Mortgage Assn. 4.00% 2048 7,241,000 7,409,440
Greece (Hellenic Republic of) 3.50% 2023 1,605,499 1,909,938
Greece (Hellenic Republic of) 3.75% 2028 684,185 787,531
Greece (Hellenic Republic of) 3.90% 2033 1,714,749 1,873,802
Greece (Hellenic Republic of) 4.00% 2037 1,769,810 1,892,651
Greece (Hellenic Republic of) 4.20% 2042 1,759,124 1,881,579
Groupe BPCE SA 2.75% 2026 (5 year EURO Mid Swap + 1.83% on 07/08/2021) 3,300,000 4,019,971
Groupe BPCE SA 4.625% 2023 1,200,000 1,617,474
Groupe BPCE SA 5.70% 2023 1,800,000 1,884,510
Guatemala (Republic of) 4.375% 2027 800,000 744,000
H.I.G. Capital, LLC 6.75% 2024 318,000 312,038
HCA Inc. 5.25% 2026 125,000 124,463
HCA Inc. 5.875% 2023 250,000 260,000
HSBC Holdings PLC 3.033% 2023 (3-month USD-LIBOR +0.923 on 11/12/2022) 1,180,000 1,139,318
HSBC Holdings PLC 3.375% 2024 (5 year EURO Mid Swap + 1.95% on 01/10/2019) 1,700,000 2,018,434
HSBC Holdings PLC 3.90% 2026 4,200,000 4,109,641
HSBC Holdings PLC 4.00% 2022 305,000 309,531
Halliburton Co. 3.80% 2025 870,000 865,104
Hanesbrands Inc. 4.625% 2024 85,000 83,300
Hanesbrands Inc. 4.875% 2026 350,000 339,500
Hardwoods Acquisition Inc 7.50% 2021 228,000 212,610
Harris Corp. 2.70% 2020 155,000 153,690
Healthsouth Corp. 5.75% 2025 720,000 730,800
Hertz Global Holdings Inc. 7.625% 2022 845,000 813,313
Holcim Ltd. 5.15% 2023 1,290,000 1,354,361
Hub International Ltd., 7.00% 2026 85,000 84,150
Humana Inc. 3.85% 2024 1,000,000 999,127
Hungary 3.875% 2020 1,000,000 1,243,866
Hungary 5.375% 2024 2,700,000 2,873,038
Huntsman International LLC 4.875% 2020 425,000 432,969
Husky Energy Inc. 7.25% 2019 250,000 263,903
Hyundai Capital America 2.55% 2020 2,580,000 2,536,442
Hyundai Capital America 3.25% 2022 658,000 640,561
Hyundai Capital Services Inc. 2.625% 2020 500,000 489,453
Hyundai Capital Services Inc. 3.75% 2023 2,450,000 2,413,581
Icahn Enterprises Finance Corp. 6.25% 2022 600,000 613,500
Imperial Tobacco Finance PLC 3.50% 2023 2,000,000 1,956,526
India (Republic of) 6.79% 2027 500,000,000 6,741,589
India (Republic of) 6.97% 2026 431,000,000 5,905,760
India (Republic of) 7.35% 2024 30,000,000 422,973
India (Republic of) 7.59% 2029 375,800,000 5,271,841
India (Republic of) 7.61% 2030 167,270,000 2,346,150
India (Republic of) 7.68% 2023 224,400,000 3,227,050
India (Republic of) 7.80% 2021 727,600,000 10,636,564
India (Republic of) 7.88% 2030 25,000,000 358,407
India (Republic of) 8.40% 2024 450,000,000 6,661,826
India (Republic of) 8.83% 2023 1,284,200,000 19,456,525
Indonesia (Republic of) 3.75% 2022 2,960,000 2,935,139
Indonesia (Republic of) 4.75% 2026 3,500,000 3,554,859
Infor Software 7.125% 2021 300,000 301,875
Inmarsat PLC 4.875% 2022 1,075,000 1,061,563
Intelsat Jackson Holding Co. 6.625% 2024 175,000 181,038
Intelsat Jackson Holding Co. 7.25% 2020 405,000 405,000
Intelsat Jackson Holding Co. 7.50% 2021 2,050,000 2,044,875
Intelsat Jackson Holding Co. 8.00% 2024 350,000 368,375
International Paper Co. 7.30% 2039 600,000 769,331
Intesa Sanpaolo SpA 5.017% 2024 2,510,000 2,280,222
Intesa Sanpaolo SpA 6.625% 2023 1,885,000 2,574,743
Iraq (Republic of) 6.752% 2023 545,000 525,037
Ireland (Republic of) 0.90% 2028 7,000,000 8,245,008
Iron Mountain Inc. 4.875% 2027 235,000 217,669
Israel (State of) 2.00% 2027 28,300,000 7,746,414
Israel (State of) 5.50% 2042 29,300,000 11,442,854
Italy (Republic of) 0.95% 2023 14,000,000 15,788,521
Italy (Republic of) 2.05% 2027 6,200,000 6,910,359
Italy (Republic of) 4.50% 2024 2,500,000 3,297,476
Italy (Republic of) 4.75% 2023 2,900,000 3,863,609
JPMorgan Chase & Co. 2.55% 2021 6,039,000 5,919,995
JPMorgan Chase & Co. 2.604% 2021 (3-month USD-LIBOR +0.280 on 20/01/2020) 1,700,000 1,685,516
JPMorgan Chase & Co. 3.25% 2022 1,000,000 991,013
Jaguar Holding Co. 6.375% 2023 225,000 224,483
Japan, Series 116, 2.20% 2030 1,735,000,000 19,471,914
Japan, Series 128, 0.10% 2021 625,000,000 5,683,393
Japan, Series 134, 0.10% 2022 1,350,000,000 12,309,978
Japan, Series 145, 1.70% 2033 2,210,000,000 24,147,476
Japan, Series 18, 0.10% 2024 3,153,700,000 29,666,970
Japan, Series 19, 0.10% 2024 2,691,050,000 25,460,641
Japan, Series 20, 0.10% 2025 675,360,000 6,395,836
Japan, Series 21, 0.10% 2026 982,107,750 9,354,972
Japan, Series 21, 2.30% 2035 720,000,000 8,600,500
Japan, Series 336, 0.50% 2024 800,000,000 7,496,227
Japan, Series 337, 0.30% 2024 880,000,000 8,142,577
Japan, Series 340, 0.40% 2025 435,000,000 4,059,678
Japan, Series 344, 0.10% 2026 605,000,000 5,522,044
Japan, Series 346, 0.10% 2027 3,125,000,000 28,493,711
Japan, Series 42, 1.70% 2044 450,000,000 5,081,230
Japan, Series 57, 0.80% 2047 3,756,250,000 34,764,015
Japan, Series 758, 0% 2019 11,900,000,000 107,607,106
Jonah Energy LLC 7.25% 2025 350,000 284,375
Jordan (Hashemite Kingdom of) 5.75% 2027 1,035,000 963,885
Jupiter Resources Inc. 8.50% 2022 85,000 35,063
KfW 2.125% 2022 3,955,000 3,852,012
Kimco Realty Corp. 6.875% 2019 1,250,000 1,304,871
Kinder Morgan Energy Partners, LP 3.45% 2023 2,250,000 2,173,538
Kinder Morgan Energy Partners, LP 3.50% 2021 175,000 174,791
Kinder Morgan Energy Partners, LP 3.50% 2023 1,600,000 1,558,302
Kinder Morgan Energy Partners, LP 4.15% 2024 1,700,000 1,693,928
Kinder Morgan Energy Partners, LP 5.50% 2044 4,225,000 4,207,825
Kinder Morgan, Inc. 4.30% 2028 2,185,000 2,120,990
Kinetic Concepts, Inc. 12.50% 2021 325,000 360,750
Korea Housing Finance Corp. 2.00% 2021 2,525,000 2,402,404
Korea Housing Finance Corp. 2.50% 2020 2,250,000 2,199,600
Kraft Heinz Co. 4.375% 2046 825,000 715,848
Kratos Defense & Security Solutions, Inc. 6.50% 2025 110,000 114,263
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 10.608% 2024 425,000 440,406
Kuwait (State of) 2.75% 2022 3,550,000 3,463,061
LSB Industries, Inc. 9.625% 2023 155,000 156,744
LSC Communications, Inc. 8.75% 2023 475,000 467,281
Liberty Global PLC 5.50% 2028 375,000 338,438
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 11.069% 2020 1,753,570 1,456,924
Lima Metro Line Finance Ltd. 5.875% 2034 2,000,000 2,045,200
Limited Brands, Inc. 5.25% 2028 160,000 142,400
Limited Brands, Inc. 6.875% 2035 125,000 111,875
Lithuania (Republic of) 7.375% 2020 2,475,000 2,644,538
Lloyds Banking Group PLC 6.50% 2020 1,090,000 1,405,613
Lloyds Banking Group PLC 7.625 % 2025 655,000 1,114,466
Lockheed Martin Corp. 2.50% 2020 205,000 202,334
MGM Resorts International 7.75% 2022 200,000 218,500
Malaysia (Federation of), Series 0115, 3.955% 2025 28,150,000 6,839,764
Malaysia (Federation of), Series 0116, 3.80% 2023 21,100,000 5,176,408
Malaysia (Federation of), Series 0212, 3.892% 2027 850,000 202,930
Malaysia (Federation of), Series 0215, 3.795% 2022 6,000,000 1,483,636
Malaysia (Federation of), Series 0310, 4.498% 2030 42,250,000 10,354,623
Malaysia (Federation of), Series 0314, 4.048% 2021 7,600,000 1,900,339
Malaysia (Federation of), Series 0315, 3.659% 2020 1,260,000 312,480
Malaysia (Federation of), Series 0316, 3.90% 2026 17,250,000 4,137,950
Malaysia (Federation of), Series 0511, 3.58% 2018 6,155,000 1,524,465
Malaysia (Federation of), Series 0515, 3.759% 2019 14,650,000 3,636,323
Mallinckrodt PLC 4.875% 2020 1,050,000 1,036,875
Maple Escrow 4.597% 2028 2,050,000 2,060,769
Maple Escrow 5.085% 2048 1,075,000 1,087,136
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 4.50%) 6.593% 2024 398,368 401,024
McDonald's Corp. 3.35% 2023 1,420,000 1,416,603
Medtronic, Inc. 3.50% 2025 3,500,000 3,465,350
Meredith Corp. 6.875% 2026 225,000 222,469
Meritage Homes Corp. 5.125% 2027 375,000 349,688
Microsoft Corp. 2.40% 2026 2,688,000 2,488,322
MidAmerican Energy Co. 4.40% 2044 240,000 247,770
Molina Healthcare, Inc. 4.875% 2025 482,000 469,950
Molina Healthcare, Inc. 5.375% 2022 1,250,000 1,264,063
Morgan Stanley 3.125% 2026 1,421,000 1,322,775
Morgan Stanley 3.875% 2026 1,580,000 1,556,291
Morocco (Kingdom of) 5.50% 2042 3,100,000 3,154,250
NGL Energy Partners LP 6.125% 2025 985,000 935,750
NGL Energy Partners LP 6.875% 2021 980,000 995,925
NN Group NV, 4.50% (undated) (3-month EUR-LIBOR + 4.00% on 01/15/2026) 2,720,000 3,287,194
NN Group NV, 4.625% 2044 (3-month EUR-LIBOR + 3.95% on 04/08/2024) 1,320,000 1,660,187
NRG Energy, Inc. 6.25% 2022 525,000 541,564
National Highways Authority of India 7.17% 2021 220,000,000 3,086,753
National Highways Authority of India 7.27% 2022 50,000,000 716,580
National Rural Utilities Cooperative Finance Corp. 10.375% 2018 550,000 564,112
Navient Corp. 4.875% 2019 465,000 467,906
Navient Corp. 5.5% 2023 1,195,000 1,178,569
Navient Corp. 6.125% 2024 175,000 173,688
Navient Corp. 6.50% 2022 565,000 579,125
Neiman Marcus Group LTD Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 5.564% 2020 148,677 132,136
Niagara Mohawk Power Corp. 3.508% 2024 180,000 180,023
Niagara Mohawk Power Corp. 4.278% 2034 300,000 310,617
Nigeria (Republic of) 0% 2018 763,285,000 2,109,967
Nigeria (Republic of) 0% 2018 339,870,000 931,397
Nigeria (Republic of) 0% 2018 266,265,000 726,176
Nigeria (Republic of) 0% 2018 88,755,000 244,156
Nigeria (Republic of) 0% 2018 1,412,255,000 3,810,483
Nigeria (Republic of) 0% 2018 850,000,000 2,230,692
Nigeria (Republic of) 0% 2018 789,500,000 2,106,281
Nigeria (Republic of) 0% 2018 572,205,000 1,497,898
Nigeria (Republic of) 0% 2018 443,770,000 1,203,260
Nigeria (Republic of) 6.50% 2027 465,000 433,782
Noble Corp. PLC 7.95% 2025 250,000 233,750
Noble Corp. PLC 8.95% 2045 650,000 596,375
Norway (Kingdom of) 3.75% 2021 58,500,000 7,725,576
Nova Chemicals Corp. 5.25% 2027 500,000 467,188
Novelis Corp. 5.875% 2026 325,000 312,000
Nykredit Realkredit AS, Series 01E, 1.50% 2040 178,600,000 27,867,977
Nykredit Realkredit AS, Series 01E, 2.50% 2047 14,723,395 2,409,879
Odebrecht Drilling Norbe 7.72% 2026 11,477 3,070
Oracle Corp. 2.65% 2026 2,327,000 2,147,560
Oracle Corp. 3.25% 2027 1,880,000 1,800,025
Owens & Minor, Inc. 3.875% 2021 600,000 573,000
Owens & Minor, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 6.869% 2025 235,000 231,181
PNC Bank 2.30% 2020 865,000 852,080
PNC Bank 2.40% 2019 1,225,000 1,216,699
PNC Bank 2.60% 2020 275,000 271,748
Pacific Gas and Electric Co. 2.95% 2026 590,000 527,163
Pacific Gas and Electric Co. 3.25% 2023 580,000 554,232
Pacific Gas and Electric Co. 3.30% 2027 2,625,000 2,376,077
Pacific Gas and Electric Co. 3.30% 2027 1,125,000 1,011,782
Pacific Gas and Electric Co. 3.75% 2042 630,000 521,295
Pacific Gas and Electric Co. 3.85% 2023 300,000 296,040
Pacific Gas and Electric Co. 3.95% 2047 1,250,000 1,072,765
Pacific Gas and Electric Co. 4.25% 2046 1,244,000 1,109,621
Pacific Gas and Electric Co. 6.35% 2038 534,000 576,420
Pakistan (Islamic Republic of) 5.50% 2021 3,535,000 3,294,924
Pakistan (Islamic Republic of) 8.25% 2024 2,240,000 2,147,313
Panama (Republic of) 4.50% 2050 1,230,000 1,185,413
Paraguay (Republic of) 4.70% 2027 350,000 343,000
Paraguay (Republic of) 5.60% 2048 2,340,000 2,275,650
Peabody Energy Corp. 6.00% 2022 150,000 152,438
Peabody Energy Corp. 6.375% 2025 75,000 77,344
Pernod Ricard SA 4.45% 2022 730,000 751,008
Peru (Republic of) 5.625% 2050 280,000 325,850
Peru (Republic of) 6.15% 2032 27,300,000 8,548,175
Petrobras Global Finance Co. 5.299% 2025 1,650,000 1,526,663
Petrobras Global Finance Co. 6.125% 2022 657,000 669,812
Petrobras Global Finance Co. 6.85% 2115 2,000,000 1,688,000
Petróleos Mexicanos 6.35% 2048 927,000 843,570
Petróleos Mexicanos 6.50% 2027 2,675,000 2,739,869
Petsmart Inc., Term Loan B-2, (3-month USD-LIBOR + 3.00%) 5.341% 2022 725,000 602,294
Petsmart, Inc. 5.875% 2025 2,195,000 1,695,638
Petsmart, Inc. 8.875% 2025 1,240,000 821,500
Philip Morris International Inc. 2.00% 2020 950,000 934,922
Philip Morris International Inc. 2.625% 2022 280,000 272,993
Philip Morris International Inc. 4.25% 2044 475,000 450,726
Phillips 66 Partners LP 4.68% 2045 110,000 103,414
Pisces Parent, LLC 8.00% 2026 250,000 241,700
Platform Specialty Products Corp. 5.875% 2025 200,000 195,750
Poland (Republic of) 3.25% 2026 4,590,000 4,438,906
Poland (Republic of) 4.00% 2024 980,000 996,773
Poland (Republic of), Series 0420, 1.50% 2020 26,750,000 7,138,047
Poland (Republic of), Series 0725, 3.25% 2025 34,750,000 9,443,958
Poland (Republic of), Series 0922, 5.75% 2022 34,600,000 10,520,408
Poland (Republic of), Series 1020, 5.25% 2020 29,600,000 8,540,232
Poland (Republic of), Series 1021, 5.75% 2021 126,530,000 37,839,248
Poland (Republic of), Series 1023, 4.00% 2023 31,140,000 8,912,642
Portuguese Republic 2.875% 2025 12,350,000 16,060,808
Portuguese Republic 2.875% 2026 2,095,000 2,710,513
Portuguese Republic 4.125% 2027 11,510,000 16,191,484
Progress Energy, Inc. 7.05% 2019 910,000 936,263
Progress Energy, Inc. 7.75% 2031 550,000 733,420
Prologis, Inc. 4.25% 2023 2,075,000 2,139,873
Puget Energy, Inc. 5.625% 2022 480,000 509,391
Puget Energy, Inc. 6.00% 2021 1,023,000 1,094,786
Puget Energy, Inc. 6.50% 2020 335,000 358,939
QGOG Constellation SA 9.50% 2024 2,158,427 911,935
Qatar (State of) 3.875% 2023 475,000 475,540
Qatar (State of) 4.50% 2028 3,205,000 3,240,559
Qatar (State of) 5.103% 2048 530,000 529,592
Quebec (Province of) 2.375% 2022 1,748,000 1,710,418
Quintiles Transnational Corp. 4.875% 2023 250,000 253,750
R.R. Donnelley & Sons Co. 6.50% 2023 625,000 618,750
R.R. Donnelley & Sons Co. 7.875% 2021 300,000 306,000
Rabobank Nederland 2.50% 2026 (5 year EURO Mid Swap + 1.40% on 05/26/2021) 3,300,000 4,016,965
Rabobank Nederland 4.625% 2023 2,180,000 2,197,658
Rayonier Advanced Materials Inc. 5.50% 2024 325,000 307,125
Realkredit Danmark AS, Series 22S, 2.00% 2037 24,850,976 4,058,765
Realkredit Danmark AS, Series S22, 1.50% 2040 58,600,000 9,145,989
Reynolds American Inc. 3.25% 2020 640,000 639,012
Reynolds American Inc. 4.00% 2022 455,000 458,238
Reynolds American Inc. 4.45% 2025 2,115,000 2,128,638
Roche Holdings, Inc. 2.375% 2027 725,000 661,563
Roche Holdings, Inc. 2.875% 2021 1,250,000 1,238,395
Roche Holdings, Inc. 3.35% 2024 3,050,000 3,032,380
Romania 2.30% 2020 12,875,000 3,078,214
Romania 2.75% 2025 1,285,000 1,612,013
Romania 3.25% 2021 15,110,000 3,677,492
Romania 3.375% 2038 4,170,000 4,617,864
Romania 3.40% 2022 3,250,000 778,921
Romania 3.875% 2035 2,810,000 3,358,706
Romania 5.40% 2048 6,200,000 5,998,227
Romania 5.95% 2021 15,290,000 3,982,276
Rotech Healthcare Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 6.087% 2023 496,875 496,875
Royal Dutch Shell PLC 1.375% 2019 2,000,000 1,967,946
Royal Dutch Shell PLC 1.75% 2021 1,740,000 1,667,249
Ryerson Inc. 11.00% 2022 835,000 920,588
SM Energy Co. 6.50% 2021 75,000 76,772
SWEDBANK AB CP 7/2/2018 30,900,000 30,895,236
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 550,000 510,125
Santander Holdings USA, Inc. 3.70% 2022 4,475,000 4,411,786
Saudi Arabia (Kingdom of) 2.894% 2022 1,900,000 1,850,078
Saudi Arabia (Kingdom of) 3.625% 2028 3,840,000 3,659,597
Saudi Arabia (Kingdom of) 3.628% 2027 1,900,000 1,836,886
Saudi Arabia (Kingdom of) 4.50% 2030 3,115,000 3,117,395
Scentre Group 3.50% 2025 600,000 578,937
Scentre Group 3.75% 2027 300,000 288,482
Schlumberger BV 4.00% 2025 1,460,000 1,456,987
Shire PLC 1.90% 2019 2,000,000 1,970,008
Shire PLC 2.40% 2021 3,930,000 3,765,003
Shire PLC 2.875% 2023 818,000 770,099
Shire PLC 3.20% 2026 405,000 371,664
Sierra Pacific Power Co., General and Refunding Mortgage Notes, Series T, 3.375% 2023 2,450,000 2,440,286
Sirius XM Radio Inc. 3.875% 2022 425,000 412,250
Skandinaviska Enskilda Banken AB 2.625% 2021 2,250,000 2,209,770
Skandinaviska Enskilda Banken AB 2.80% 2022 5,100,000 4,971,057
South Africa (Republic of), Series R-186, 10.50% 2026 41,900,000 3,348,603
South Africa (Republic of), Series R-214, 6.50% 2041 145,850,000 7,587,326
South Korea (Republic of), Series 2203, 1.875% 2022 3,540,000,000 3,135,112
South Korea (Republic of), Series 2209, 2.00% 2022 13,974,200,000 12,390,470
South Korea (Republic of), Series 2303, 2.375% 2023 3,500,000,000 3,145,402
South Korea (Republic of), Series 2712, 2.375% 2027 14,470,000,000 12,802,295
Southwestern Energy Co. 4.10% 2022 1,315,000 1,262,400
Spain (Kingdom of) 1.45% 2027 19,430,000 23,094,469
Spain (Kingdom of) 1.50% 2027 10,350,000 12,401,154
Spain (Kingdom of) 2.70% 2048 6,025,000 7,322,304
Spain (Kingdom of) 2.90% 2046 1,870,000 2,384,666
Staples Inc. 8.50% 2025 260,000 243,100
Starwood Property Trust, Inc. 5.00% 2021 350,000 353,500
State Grid Overseas Investment Ltd. 3.50% 2027 5,600,000 5,349,176
Statoil ASA 3.70% 2024 1,950,000 1,968,693
Statoil ASA 4.25% 2041 1,000,000 993,690
Sunoco LP 4.875% 2023 130,000 125,125
Svenska Handelsbanken AB 2.656% 2024 (5 year EURO Mid Swap + 1.43% on 01/15/2019) 2,170,000 2,567,744
Sweden (Kingdom of) 1.125% 2019 3,000,000 2,945,337
TEEKAY OFFSHORE PARTNERS LP 8.50% 2023 400,000 405,000
Talen Energy Corp. 10.50% 2026 85,000 76,075
Talen Energy Corp. 9.50% 2022 360,000 355,277
Targa Resources Partners LP 6.75% 2024 190,000 199,975
Team Health Holdings, Inc. 6.375% 2025 620,000 536,300
Teco Finance, Inc. 5.15% 2020 75,000 77,080
Teekay Corp. 8.50% 2020 2,075,000 2,147,625
Tenet Healthcare Corp. 4.375% 2021 250,000 247,188
Tenet Healthcare Corp. 4.50% 2021 1,625,000 1,616,875
Tenet Healthcare Corp. 4.625% 2024 421,000 400,350
Tenet Healthcare Corp. 4.75% 2020 175,000 176,313
Tenet Healthcare Corp., 6.00% 2020 430,000 443,438
Teva Pharmaceutical Finance Company BV 2.20% 2021 270,000 250,596
Teva Pharmaceutical Finance Company BV 2.80% 2023 1,280,000 1,106,477
Teva Pharmaceutical Finance Company BV 3.15% 2026 2,420,000 1,947,725
Teva Pharmaceutical Finance Company BV 6.00% 2024 230,000 229,962
Thailand (Kingdom of) 1.875% 2022 258,200,000 7,764,969
Thailand (Kingdom of) 2.125% 2026 379,250,000 11,052,190
Thailand (Kingdom of) 3.85% 2025 65,000,000 2,146,825
Transocean Inc. 9.00% 2023 419,000 452,520
Trilogy International Partners, LLC 8.875% 2022 950,000 964,250
Turkey (Republic of) 11.00% 2022 19,700,000 3,600,063
Turkey (Republic of) 6.25% 2022 1,880,000 1,889,392
U.S. Treasury 1.125% 2021 28,660,000 27,574,646
U.S. Treasury 1.875% 2024 9,400,000 8,913,456
U.S. Treasury 2.00% 2021 16,500,000 16,176,930
U.S. Treasury 2.00% 2022 3,500,000 3,397,485
U.S. Treasury 2.00% 2026 33,560,000 31,429,611
U.S. Treasury 2.125% 2022 41,955,000 40,888,084
U.S. Treasury 2.25% 2027 27,700,000 26,307,244
U.S. Treasury 2.375% 2023 27,625,000 27,204,824
U.S. Treasury 2.50% 2020 7,900,000 7,895,892
U.S. Treasury 2.625% 2023 6,900,000 6,870,261
U.S. Treasury 2.75% 2023 39,400,000 39,423,246
U.S. Treasury 2.75% 2028 57,600,000 57,050,496
U.S. Treasury 2.75% 2047 18,900,000 17,995,446
U.S. Treasury 2.875% 2028 24,000,000 24,030,000
U.S. Treasury 3.00% 2048 10,600,000 10,611,978
U.S. Treasury 3.125% 2048 4,000,000 4,103,200
U.S. Treasury Inflation-Protected Security 0.125% 2024 7,176,108 6,975,896
U.S. Treasury Inflation-Protected Security 0.25% 2025 11,743,245 11,421,856
U.S. Treasury Inflation-Protected Security 0.375% 2025 5,811,630 5,709,083
U.S. Treasury Inflation-Protected Security 0.375% 2027 3,786,291 3,678,550
U.S. Treasury Inflation-Protected Security 0.625% 2024 27,089,884 27,055,603
U.S. Treasury Inflation-Protected Security 0.625% 2026 10,229,426 10,174,107
U.S. Treasury Inflation-Protected Security 0.625% 2043 1,307,880 1,237,898
U.S. Treasury Inflation-Protected Security 0.75% 2042 693,094 676,564
U.S. Treasury Inflation-Protected Security 0.75% 2045 712,960 691,370
U.S. Treasury Inflation-Protected Security 1.00% 2046 6,926,953 7,130,710
U.S. Treasury Inflation-Protected Security 1.375% 2044 5,698,454 6,358,357
U.S. Treasury Inflation-Protected Security 2.375% 2025 1,528,764 1,695,092
UNITED OVERSEAS BK LTD 4(2) CP 7/10/2018 40,600,000 40,576,005
Ultra Petroleum Corp. 6.875% 2022 630,000 480,375
Ultra Petroleum Corp. 7.125% 2025 250,000 176,875
UniCredit SPA 3.75% 2022 1,750,000 1,671,196
UniCredit SPA 4.625% 2027 2,150,000 2,001,605
Union Pacific Corp. 4.50% 2048 260,000 263,424
Unisys Corp. 10.75% 2022 425,000 478,125
United Kingdom 1.25% 2027 11,725,000 15,371,630
United Kingdom 1.50% 2047 2,380,000 2,970,172
United Kingdom 2.25% 2023 1,550,000 2,173,361
United Kingdom 2.75% 2024 3,200,000 4,641,677
United Kingdom 3.25% 2044 6,500,000 11,191,691
United Kingdom 3.50% 2045 2,590,000 4,674,529
United Kingdom 4.25% 2027 2,800,000 4,667,437
United Mexican States 3.75% 2028 2,000,000 1,893,500
United Mexican States 4.00% 2040 207,864 1,090,367
United Mexican States, Series M, 5.75% 2026 6,545,000 29,459,050
United Mexican States, Series M, 6.50% 2021 3,733,000 18,215,533
United Mexican States, Series M, 6.50% 2022 1,191,000 5,758,347
United Mexican States, Series M, 7.75% 2042 227,347 1,154,487
United Mexican States, Series M, 8.00% 2020 925,000 4,686,328
United Mexican States, Series M20, 10.00% 2024 1,420,000 8,036,341
United Mexican States, Series M30, 10.00% 2036 350,000 2,173,674
UnitedHealth Group Inc. 2.70% 2020 520,000 516,580
Uruguay (Oriental Republic of) 8.50% 2028 128,291,000 3,536,133
Uruguay (Oriental Republic of) 8.50% 2028 55,000,000 1,515,986
Uruguay (Oriental Republic of) 9.875% 2022 35,081,000 1,110,332
Vale SA 6.25% 2026 1,310,000 1,422,005
Valeant Pharmaceuticals International, Inc. 6.125% 2025 2,450,000 2,266,250
Valeant Pharmaceuticals International, Inc. 9.00% 2025 110,000 114,538
Valeant Pharmaceuticals International, Inc. 9.25% 2026 545,000 567,481
Veritas Holdings Limited 7.50% 2023 200,000 188,000
Verizon Communications Inc. 4.125% 2046 1,814,000 1,554,382
Verizon Communications Inc. 4.50% 2033 1,920,000 1,865,197
Vine Oil & Gas LP 8.75% 2023 325,000 301,438
Virgin Australia Holdings Ltd. 8.50% 2019 100,000 101,375
Volkswagen Group of America Finance, LLC 2.45% 2019 545,000 539,135
WEA Finance LLC 2.70% 2019 1,185,000 1,180,266
WEA Finance LLC 3.25% 2020 3,030,000 3,024,813
WEA Finance LLC 3.75% 2024 535,000 528,762
WI TREASURY NOTE 2.75% 06-30-25 12,000,000 11,944,680
WM. Wrigley Jr. Co 3.375% 2020 515,000 516,557
Warrior Met Coal, Inc. 8.00% 2024 250,000 258,750
Weatherford International PLC 4.50% 2022 250,000 230,720
Weatherford International PLC 6.50% 2036 650,000 511,875
Weatherford International PLC 6.75% 2040 1,280,000 1,020,800
Weatherford International PLC 8.25% 2023 850,000 845,402
Weatherford International PLC 9.875% 2024 125,000 126,835
Weatherford International PLC 9.875% 2025 325,000 328,250
WellPoint, Inc. 2.30% 2018 585,000 584,931
Wells Fargo & Co. 3.584% 2028 (3-month USD-LIBOR +1.310 on 05/15/2027) 900,000 862,957
Western Gas Partners LP 3.95% 2025 2,900,000 2,738,154
Western Gas Partners LP 4.00% 2022 1,500,000 1,483,368
Westfield Corp. Ltd. 3.15% 2022 245,000 240,317
Williams Partners LP 4.125% 2020 375,000 379,884
Williams Partners LP 4.30% 2024 1,380,000 1,386,086
Williams Partners LP 4.50% 2023 760,000 772,184
Williams Partners LP 5.25% 2020 225,000 232,035
Wind Tre SpA 5.00% 2026 725,000 578,340
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 543,000 517,886
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 275,000 257,469
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 375,000 369,375
Ziggo Bond Finance BV 5.50% 2027 1,475,000 1,381,485
Zimmer Holdings, Inc. 3.15% 2022 790,000 776,014
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
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 9,337 200,374 0.01
Corporate Risk Holdings Corp. 131 0 0.00
Corporate Risk Holdings I, Inc. 25,840 791,479 0.04
Ply Gem Parent, LLC, Class B 1 93 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.