American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - High-Income Bond Fund

As of June 30, 2019 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACCO Brands Corp. 5.25% 2024 725,000 735,875
ADT Corp. 3.50% 2022 3,955,000 3,959,944
AES Corp. 4.00% 2021 1,000,000 1,020,000
AES Corp. 4.875% 2023 1,175,000 1,198,547
AES Corp. 5.50% 2025 3,382,000 3,521,508
AES Corp. 6.00% 2026 2,165,000 2,305,725
AK Steel Holding Corp. 7.00% 2027 450,000 364,500
AK Steel Holding Corp. 7.625% 2021 2,425,000 2,400,750
ARAMARK Corp. 5.125% 2024 3,020,000 3,110,600
Adient US LLC 7.00% 2026 1,200,000 1,236,000
Advanced Disposal Services, Inc. 5.625% 2024 1,550,000 1,629,438
Aker BP ASA 4.75% 2024 1,775,000 1,833,930
Alcatel-Lucent USA Inc. 6.45% 2029 1,800,000 1,809,000
Alliant Holdings Intermediate LLC 8.25% 2023 1,550,000 1,596,035
Allied Universal Holdco LLC, 6.625% 2026 1,625,000 1,655,469
Allied Universal Holdco LLC, 9.75% 2027 2,375,000 2,380,938
Allison Transmission Holdings, Inc. 5.00% 2024 4,190,000 4,289,513
Ally Financial Inc. 8.00% 2020 1,540,000 1,595,825
Ally Financial Inc. 8.00% 2031 1,925,000 2,553,917
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.652% 2025 7,325,000 7,281,050
Altice Finco SA 8.125% 2024 505,000 522,675
Altice NV 6.625% 2023 835,000 857,963
Altice NV, First Lien, 7.75% 2022 444,000 452,325
Altice SA 7.625% 2025 1,550,000 1,463,781
AmeriGas Partners, LP 5.50% 2025 700,000 740,250
AmeriGas Partners, LP 5.75% 2027 450,000 474,750
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 1,850,000 1,852,313
American Energy (Permian Basin) 7.125% 2020 4,445,000 488,950
American Energy (Permian Basin) 7.375% 2021 5,270,000 579,700
Antero Resources Corp. 5.375% 2024 1,050,000 1,048,688
Antero Resources Corp. 5.75% 2027 1,150,000 1,152,875
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 9.33% 2025 1,825,000 1,851,463
Aqueduct and Sewer Auth., Rev. Bonds, Series 2012-B, 4.90% 2020 95,000 93,813
Ardagh Packaging Finance 4.625% 2023 910,000 927,063
Ardagh Packaging Finance 6.00% 2025 4,070,000 4,222,625
Ascent Resources - Utica LLC 10.00% 2022 685,000 728,600
Ascent Resources - Utica LLC 7.00% 2026 1,550,000 1,422,125
Ascent Resources Marcellus Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 6.50%) 8.911% 2023 1,329,167 1,295,938
Associated Materials, LLC 9.00% 2024 5,773,000 5,498,783
AssuredPartners, Inc. 7.00% 2025 440,000 439,450
AssuredPartners, Inc. 8.00% 2027 2,865,000 2,886,488
Auris Luxembourg III SARL, Term Loan, (3-month USD-LIBOR + 3.75%) 6.152% 2026 857,850 860,799
Avis Budget Group, Inc. 5.50% 2023 4,300,000 4,396,750
Avolon Holdings Funding Ltd 5.25% 2024 1,875,000 2,003,250
Axalta Coating Systems LLC 4.875% 2024 1,450,000 1,500,750
B&G Foods, Inc. 4.625% 2021 365,000 366,825
B&G Foods, Inc. 5.25% 2025 5,183,000 5,254,266
BWAY Parent Co., Inc. 5.50% 2024 2,840,000 2,852,425
BWAY Parent Co., Inc. 7.25% 2025 1,800,000 1,741,500
Ball Corp. 4.375% 2020 450,000 461,025
Ball Corp. 5.00% 2022 825,000 869,344
Banff Merger Sub Inc. 9.75% 2026 775,000 676,188
Bausch Health Companies Inc. 7.00% 2028 1,510,000 1,568,513
Beacon Roofing Supply, Inc. 4.875% 2025 2,550,000 2,534,063
Berry Global Escrow Corporation. 4.875% 2026 1,020,000 1,044,225
Berry Petroleum Corp. 7.00% 2026 1,050,000 1,023,750
Berry Plastics Corp. 5.50% 2022 820,000 832,300
Blackboard Inc., Term Loan B4, (3-month USD-LIBOR + 5.00%) 7.496% 2021 691,272 689,436
Blackstone CQP Holdco LP., Term Loan B, (3-month USD-LIBOR +3.50%) 5.83% 2024 1,000,000 1,002,500
Blue Cube Spinco Inc. (Olin Corp.) 10.00% 2025 1,000,000 1,136,250
Blue Racer Midstream LLC and Blue Racer Finance Corp. 6.125% 2022 1,750,000 1,782,813
Bohai Financial Investment Holding Co., Ltd. 4.50% 2023 1,625,000 1,685,223
Bohai Financial Investment Holding Co., Ltd. 5.125% 2023 1,000,000 1,061,960
Bohai Financial Investment Holding Co., Ltd. 5.25% 2022 1,600,000 1,692,976
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 600,000 647,538
Brand Energy 8.50% 2025 1,710,000 1,558,238
Brookfield Property REIT Inc. 5.75% 2026 5,135,000 5,308,306
Brookfield WEC Holdings Inc., Term Loan, (3-month USD-LIBOR + 6.75%) 9.152% 2026 1,580,000 1,601,396
Builders FirstSource, Inc. 5.625% 2024 7,160,000 7,406,447
CBS Corp. 7.25% 2024 350,000 370,563
CBS Outdoor Americas Inc. 5.25% 2022 400,000 406,860
CCO Holdings LLC and CCO Holdings Capital Corp. 4.00% 2023 2,925,000 2,938,712
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 2,125,000 2,175,363
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2023 1,450,000 1,483,984
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2027 300,000 311,358
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2025 225,000 233,156
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2029 1,150,000 1,190,250
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 2026 825,000 865,466
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 6,450,000 6,780,563
CCO Holdings LLC and CCO Holdings Capital Corp. 5.875% 2024 350,000 366,625
CDK Global Inc. 5.25% 2029 425,000 440,938
CDW Corp. 5.00% 2025 1,150,000 1,201,031
CF Industries, Inc. 4.95% 2043 1,290,000 1,159,388
CIT Group Inc. 4.125% 2021 950,000 970,473
CONSOL Energy Inc. 5.875% 2022 7,546,000 7,357,350
CRC Escrow Issuer LLC 5.25% 2025 1,475,000 1,478,688
CSC Holdings, LLC 5.125% 2021 500,000 501,250
CSC Holdings, LLC 5.50% 2026 1,300,000 1,366,560
CVR Partners, LP 9.25% 2023 700,000 734,615
Cablevision Systems Corp. 5.125% 2021 725,000 726,813
Cablevision Systems Corp. 6.75% 2021 5,025,000 5,389,313
California Resources Corp. 8.00% 2022 1,175,000 891,531
California Resources Corp., Term Loan B, (3-month USD-LIBOR + 4.75%) 7.152% 2022 950,000 908,438
Calpine Corp. 5.25% 2026 2,340,000 2,389,725
Calpine Corp. 5.375% 2023 2,450,000 2,483,688
Calpine Corp. 5.75% 2025 300,000 298,875
Calpine Corp. 5.875% 2024 2,420,000 2,480,500
Calpine Corp. 6.00% 2022 425,000 428,719
Camelot Finance SA 7.875% 2024 7,580,000 7,987,425
Capital Group Central Cash Fund 696,955 69,688,481
Carlyle Group LP 8.75% 2023 1,800,000 1,777,500
Catalent Pharma Solutions Inc., 5.0% 2027 905,000 923,100
Cedar Fair, LP 5.25% 2029 735,000 751,538
Centene Corp. 4.75% 2022 4,580,000 4,694,500
Centene Corp. 4.75% 2025 2,250,000 2,328,098
Centene Corp. 5.375% 2026 2,920,000 3,076,950
Centene Corp. 6.125% 2024 1,500,000 1,573,125
Centennial Resource Production, LLC 6.875% 2027 705,000 715,575
CenturyLink, Inc. 6.75% 2023 7,100,000 7,676,875
CenturyLink, Inc. 7.50% 2024 700,000 776,125
CenturyLink, Inc. 7.65% 2042 800,000 750,000
CenturyLink, Inc., Series T, 5.80% 2022 700,000 733,250
Charles River Laboratories International, Inc. 5.50% 2026 885,000 933,498
Chemours Co. 6.625% 2023 4,285,000 4,448,344
Cheniere Energy, Inc. 5.875% 2025 1,600,000 1,786,000
Cheniere Energy, Inc. 7.00% 2024 1,575,000 1,815,345
Chesapeake Energy Corp. 4.875% 2022 4,300,000 4,085,000
Chesapeake Energy Corp. 8.00% 2025 2,150,000 1,994,125
Chesapeake Energy Corp. 8.00% 2027 1,435,000 1,261,910
Chesapeake Energy Corp., convertible notes, 5.50% 2026 775,000 620,526
Churchill Downs Inc. 4.75% 2028 1,375,000 1,388,406
Cinemark USA, Inc. 4.875% 2023 550,000 558,250
Cirsa Gaming Corp. SA 7.875% 2023 5,235,000 5,562,188
Clean Harbors, Inc. 4.875% 2027 1,820,000 1,854,307
Clean Harbors, Inc. 5.125% 2029 915,000 935,588
Clear Channel Worldwide Holdings, Inc. 9.25% 2024 2,720,000 2,958,000
Cleveland-Cliffs Inc. 4.875% 2024 5,775,000 5,876,063
Cleveland-Cliffs Inc. 5.75% 2025 5,956,000 5,941,110
Cleveland-Cliffs Inc. 5.875% 2027 8,285,000 8,077,875
Colorado Buyer Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.67% 2025 637,500 558,078
CommScope Technologies LLC 5.00% 2027 950,000 831,250
CommScope Technologies LLC 5.50% 2024 200,000 190,250
CommScope Technologies LLC 6.00% 2025 1,850,000 1,743,089
Communications Sales & Leasing, Inc. 6.00% 2023 450,000 428,625
Communications Sales & Leasing, Inc. 7.125% 2024 400,000 361,000
Compass Diversified Holdings 8.00% 2026 5,710,000 5,963,381
Comstock Resources, Inc. 9.75% 2026 3,675,000 2,838,938
Concordia International Corp. 8.00% 2024 34,000 33,065
Concordia International Corp., Term Loan, (3-month USD-LIBOR + 5.50%) 7.911% 2024 92,590 89,041
Consolidated Energy Finance SA 6.50% 2026 2,395,000 2,389,013
Consolidated Energy Finance SA 6.875% 2025 485,000 499,143
Continental Airlines, Inc., Series 2000-1, Class B, 8.388% 2022 38 40
Convey Park Energy LLC 7.50% 2025 1,275,000 924,375
Cott Beverages Inc. 5.50% 2025 1,980,000 2,024,550
Covanta Holding Corp. 5.875% 2024 1,200,000 1,239,000
Covanta Holding Corp. 5.875% 2025 1,300,000 1,356,875
Cumulus Media New Holdings Inc., 6.75% 2026 3,390,000 3,390,000
Cumulus Media New Holdings Inc., Term Loan, (3-month USD-LIBOR + 4.50%) 6.91% 2022 3,361,236 3,349,639
DCP Midstream Operating LP 4.95% 2022 1,880,000 1,955,200
DISH DBS Corp. 5.125% 2020 1,000,000 1,007,490
DISH DBS Corp. 6.75% 2021 1,100,000 1,157,750
DISH DBS Corp., convertible notes, 3.375% 2026 1,010,000 984,431
DaVita HealthCare Partners Inc. 5.00% 2025 1,665,000 1,650,015
DaVita HealthCare Partners Inc. 5.125% 2024 1,000,000 1,002,800
Darling Ingredients Inc. 5.25% 2027 380,000 398,050
Denbury Resources Inc. 7.75% 2024 1,040,000 868,400
Denbury Resources Inc. 9.00% 2021 1,886,000 1,867,140
Diamond Offshore Drilling, Inc. 4.875% 2043 2,760,000 1,725,000
Diamond Offshore Drilling, Inc. 7.875% 2025 1,650,000 1,575,750
Diebold Nixdorf AG, Term Loan A, (3-month USD-LIBOR + 3.50%) 5.938% 2020 100,000 95,500
Diebold Nixdorf AG, Term Loan A-DD, (3-month USD-LIBOR + 3.50%) 4.597% 2020 680,459 649,838
Diebold Nixdorf AG, Term Loan A1, (3-month USD-LIBOR + 9.25%) 11.688% 2022 3,666,871 3,877,716
Diebold Nixdorf AG, Term Loan B, (3-month USD-LIBOR + 2.75%) 5.188% 2023 803,823 754,589
Diebold, Inc. 8.50% 2024 1,675,000 1,490,750
Dun & Bradstreet Corp. 6.875% 2026 3,340,000 3,540,400
Dun & Bradstreet Corp., Term Loan B, (3-month USD-LIBOR + 5.00%) 7.404% 2026 2,570,000 2,574,014
EG Group Ltd. 6.75% 2025 1,095,000 1,089,197
Eagle Holding Co. II LLC 7.625% 2022 1,250,000 1,259,375
Eagle Holding Co. II, LLC. 7.75% 2022 2,410,000 2,434,100
Ellucian, Inc. 9.00% 2023 450,000 466,313
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026) 1,925,000 2,066,449
Endo International PLC 5.75% 2022 3,525,000 3,093,188
Endo International PLC 5.875% 2024 2,450,000 2,339,750
Endo International PLC 6.00% 2023 2,959,000 2,145,275
Endo International PLC 6.00% 2025 2,305,000 1,555,875
Enel Società per Azioni 8.75% 2073 2,000,000 2,315,000
Energizer Holdings, Inc. 6.375% 2026 2,105,000 2,168,150
Energizer Holdings, Inc. 7.75% 2027 1,210,000 1,312,644
Energizer SpinCo Inc. 5.50% 2025 625,000 634,375
Ensco PLC 5.75% 2044 2,920,000 1,693,600
Ensco PLC 7.75% 2026 2,225,000 1,668,750
Entercom Media Corp. 6.50% 2027 175,000 182,438
Envision Healthcare Corp., Term Loan, (3-month USD-LIBOR + 3.75%) 6.152% 2025 673,308 596,719
Equinix, Inc. 5.375% 2027 1,000,000 1,074,470
Equinix, Inc. 5.75% 2025 200,000 208,950
Equinix, Inc. 5.875% 2026 575,000 610,219
Euramax International, Inc. 12.00% 2020 1,850,000 1,877,750
Extraction Oil & Gas, Inc. 5.625% 2026 1,890,000 1,535,625
Extraction Oil & Gas, Inc. 7.375% 2024 100,000 86,000
FS Energy and Power Fund 7.50% 2023 5,365,000 5,458,888
FXI Holdings, Inc. 7.875% 2024 2,735,000 2,557,225
Fairstone Financial Inc. 7.875% 2024 2,258,000 2,307,394
Fertitta Entertainment, Inc. 6.75% 2024 350,000 361,375
Fertitta Entertainment, Inc. 8.75% 2025 1,325,000 1,394,563
Financial & Risk US Holdings, Inc. 6.25% 2026 1,611,000 1,660,941
Financial & Risk US Holdings, Inc. 8.25% 2026 1,475,000 1,520,725
Financial & Risk US Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 6.152% 2025 746,250 724,929
First Data Corp. 5.00% 2024 1,700,000 1,742,713
First Data Corp. 5.375% 2023 100,000 101,925
First Quality Enterprises, Inc. 5.00% 2025 1,995,000 2,014,950
First Quality Finance 4.625% 2021 195,000 195,244
First Quantum Minerals Ltd. 6.50% 2024 2,160,000 2,027,700
First Quantum Minerals Ltd. 6.875% 2026 5,500,000 5,121,875
First Quantum Minerals Ltd. 7.00% 2021 688,000 703,050
First Quantum Minerals Ltd. 7.25% 2022 3,025,000 3,009,875
First Quantum Minerals Ltd. 7.25% 2023 8,150,000 7,966,625
First Quantum Minerals Ltd. 7.50% 2025 11,100,000 10,614,375
Five Point Holdings LLC 7.875% 2025 775,000 780,828
Freeport-McMoRan Inc. 3.55% 2022 5,015,000 5,033,806
Freeport-McMoRan Inc. 3.875% 2023 400,000 401,000
Freeport-McMoRan Inc. 6.875% 2023 1,000,000 1,056,250
Frontier Communications Corp. 10.50% 2022 8,540,000 5,828,550
Frontier Communications Corp. 11.00% 2025 16,270,000 10,168,750
Frontier Communications Corp. 8.00% 2027 2,685,000 2,799,113
Frontier Communications Corp. 8.50% 2020 825,000 676,500
Frontier Communications Corp. 8.50% 2026 3,020,000 2,936,950
Frontier Communications Corp. 9.25% 2021 1,300,000 890,500
General Motors Acceptance Corp. 7.50% 2020 1,920,000 2,025,600
Genesis Energy, LP 6.50% 2025 2,490,000 2,443,313
Genesis Energy, LP 6.75% 2022 3,075,000 3,113,438
Genesys Telecommunications Laboratories, Inc. 10.00% 2024 6,030,000 6,565,163
Getty Images Inc. 9.75% 2027 1,225,000 1,264,813
Getty Images Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 6.938% 2026 1,766,125 1,761,710
Go Daddy Operating Co. 5.25% 2027 2,835,000 2,944,856
Gogo Inc. 9.875% 2024 16,025,000 16,525,781
Gogo Inc., convertible notes, 6.00% 2022 2,140,000 1,979,500
Golden Entertainment, Inc. 7.625% 2026 1,025,000 1,050,625
Goodyear Tire & Rubber Co. 4.875% 2027 750,000 715,313
Gray Television, Inc. 7.00% 2027 1,225,000 1,332,188
Greif, Inc. 6.50% 2027 725,000 750,375
H.I.G. Capital, LLC 6.75% 2024 2,309,000 2,176,233
HCA HEALTHCARE INC 5.5% 06-15-49 69,000 72,013
HCA Inc. 4.125% 2029 500,000 512,643
HCA Inc. 4.50% 2027 350,000 373,825
HCA Inc. 5.50% 2047 756,000 808,054
HCA Inc. 5.625% 2028 1,475,000 1,600,375
HCA Inc. 5.875% 2023 1,925,000 2,098,019
HCA Inc. 5.875% 2026 650,000 719,875
HCA Inc. 6.50% 2020 800,000 818,441
HCA Inc. 7.50% 2022 360,000 397,800
HDTFS Inc. 5.875% 2020 2,650,000 2,654,638
HUB International Ltd. 7.00% 2026 5,205,000 5,289,581
Hanesbrands Inc. 4.625% 2024 2,905,000 3,030,496
Hanesbrands Inc. 4.875% 2026 1,595,000 1,662,612
Hardwoods Acquisition Inc. 7.50% 2021 1,810,000 1,113,150
Harsco Corp., 5.75% 2027 1,215,000 1,268,290
HealthSouth Corp. 5.75% 2024 1,169,000 1,194,776
HealthSouth Corp. 5.75% 2025 1,380,000 1,440,375
Hertz Global Holdings Inc. 7.375% 2021 415,000 415,726
Hertz Global Holdings Inc. 7.625% 2022 6,269,000 6,519,760
Hexion Inc. 10.00% 2020 200,000 157,000
Hexion Inc. 10.375% 2022 1,550,000 1,189,625
Hexion Inc. 6.625% 2020 1,585,000 1,236,300
Hexion Inc. 7.875% 2027 1,405,000 1,415,538
Hexion Inc., Term Loan, (3-month USD-LIBOR + 2.75%) 5.08% 2020 1,295,000 1,296,603
Hilton Worldwide Holdings Inc. 4.875% 2030 1,725,000 1,783,938
Howard Hughes Corp. 5.375% 2025 6,070,000 6,301,874
IAC/InterActiveCorp, convertible notes, 0.875% 2026 731,000 738,029
IMS Health Holdings, Inc. 5.00% 2026 3,055,000 3,177,200
INEOS Group Holdings SA 5.625% 2024 2,375,000 2,434,375
Icahn Enterprises Finance Corp. 6.25% 2022 2,800,000 2,884,000
Indigo Natural Resources LLC 6.875% 2026 885,000 798,713
Infor (US), Inc. 6.50% 2022 6,100,000 6,230,235
Informatica Corp. 7.125% 2023 1,425,000 1,453,742
Inmarsat PLC 4.875% 2022 5,300,000 5,359,625
Inmarsat PLC 6.50% 2024 500,000 524,375
Intelsat Jackson Holding Co. 5.50% 2023 3,485,000 3,197,488
Intelsat Jackson Holding Co. 6.625% 2024 2,900,000 2,918,125
Intelsat Jackson Holding Co. 8.00% 2024 250,000 261,250
Intelsat Jackson Holding Co. 8.50% 2024 5,675,000 5,646,625
International Game Technology 6.25% 2027 375,000 411,563
International Game Technology 6.50% 2025 950,000 1,043,290
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 7.50%) 9.902% 2025 2,275,000 2,286,375
Iqvia Inc. 5.00% 2027 560,000 579,600
Iron Mountain Inc. 4.875% 2027 1,350,000 1,344,938
Iron Mountain Inc. 5.25% 2028 1,840,000 1,851,500
Iron Mountain Inc. 5.75% 2024 4,150,000 4,202,456
JELD-WEN Holding, Inc. 4.875% 2027 1,445,000 1,401,650
Jagged Peak Energy LLC 5.875% 2026 345,000 341,550
Jaguar Holding Co. 6.375% 2023 2,625,000 2,723,438
Jonah Energy LLC 7.25% 2025 2,200,000 1,072,500
KAR Auction Services, Inc. 5.125% 2025 1,490,000 1,523,525
KCA Deutag UK Finance PLC 7.25% 2021 1,220,000 924,150
KCA Deutag UK Finance PLC 9.625% 2023 320,000 234,400
Kinetic Concepts, Inc. 12.50% 2021 6,573,000 7,254,949
Kinetic Concepts, Inc. 7.875% 2021 2,013,000 2,066,183
Kratos Defense & Security Solutions, Inc. 6.50% 2025 1,305,000 1,406,138
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 10.829% 2024 8,645,000 8,951,180
LABL Escrow Issuer, LLC 10.50% 2027 1,045,000 1,047,613
LABL Escrow Issuer, LLC 6.75% 2026 1,175,000 1,190,275
LSB Industries, Inc. 9.625% 2023 4,970,000 5,081,825
LSC Communications, Inc. 8.75% 2023 9,430,000 9,005,650
Lamb Weston Holdings, Inc. 4.625% 2024 850,000 885,063
Laredo Petroleum, Inc. 5.625% 2022 650,000 606,125
Levi Strauss & Co. 5.00% 2025 1,280,000 1,331,200
Liberty Global PLC 5.50% 2028 775,000 780,813
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 11.222% 2020 2,729,990 2,020,193
Limited Brands, Inc. 6.625% 2021 750,000 795,750
Live Nation Entertainment, Inc. 5.625% 2026 425,000 446,781
MDC Partners Inc. 6.50% 2024 8,330,000 7,696,587
MGM Growth Properties LLC 5.625% 2024 200,000 216,250
MGM Resorts International 5.50% 2027 1,255,000 1,319,319
MGM Resorts International 6.00% 2023 820,000 890,725
MGM Resorts International 7.75% 2022 1,500,000 1,676,250
Mallinckrodt PLC 4.875% 2020 6,530,000 6,325,938
Matador Resources Co. 5.875% 2026 1,550,000 1,573,250
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 3.75%) 6.152% 2024 1,365,559 1,364,919
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 8.50%) 10.902% 2025 765,625 776,790
McDermott International, Inc. 10.625% 2024 4,600,000 4,316,778
McDermott International, Term Loan B, (3-month USD-LIBOR + 5.00%) 7.402% 2025 496,231 489,149
McGraw-Hill Global Education Holdings, LLC, Term Loan B, (3-month USD-LIBOR + 4.00%) 6.402% 2022 1,277,987 1,222,608
Medical Properties Trust, Inc. 5.00% 2027 2,020,000 2,085,650
Meredith Corp. 6.875% 2026 6,315,000 6,732,611
Meritage Homes Corp. 5.125% 2027 1,300,000 1,322,750
Merlin Entertainment 5.75% 2026 1,200,000 1,267,500
Mineral Resources Ltd. 8.125% 2027 4,100,000 4,279,375
Mitchell International, Inc., Term Loan B, (3-month USD-LIBOR + 7.25%) 9.652% 2025 1,150,000 1,106,156
Molina Healthcare, Inc. 4.875% 2025 2,919,000 2,973,731
Molina Healthcare, Inc. 5.375% 2022 10,585,000 11,048,094
Moneygram International Inc., Term Loan B (3-month USD-LIBOR + 6.00%) 8.333% 2023 435,000 429,019
Multi-Color Corp. 4.875% 2025 3,855,000 4,062,206
Multiplan, Inc. 7.125% 2024 755,000 711,739
Multiplan, Inc. 8.50% 2022 750,000 665,625
Murphy Oil Corp. 5.75% 2025 855,000 890,397
Murphy Oil Corp. 6.875% 2024 1,000,000 1,055,000
NGL Energy Partners LP 6.125% 2025 4,465,000 4,442,675
NGL Energy Partners LP 7.50% 2023 250,000 262,500
NGL Energy Partners LP 7.50% 2026 2,525,000 2,638,625
NMG Finco PLC 5.75% 2022 1,780,000 1,725,194
NRG Energy, Inc. 7.25% 2026 500,000 552,500
NVA Holdings Inc. 6.875% 2026 1,490,000 1,564,500
Nabors Industries Inc. 5.75% 2025 1,300,000 1,158,625
Navient Corp. 5.50% 2023 4,235,000 4,367,344
Navient Corp. 6.125% 2024 500,000 515,000
Navient Corp. 6.50% 2022 4,240,000 4,514,498
Neiman Marcus Group Ltd. Inc. 8.00% 2024 3,851,000 1,598,550
Neiman Marcus Group Ltd. Inc., 14.0% 2024 4,708,873 3,908,365
Neiman Marcus Group Ltd. Inc., Term Loan B, (3-month USD-LIBOR + 6.00%) 8.421% 2023 2,471,700 2,122,572
Neiman Marcus Group Ltd. LLC 8.75% 2024 3,376,677 1,449,861
Neon Holdings, Inc. 10.125% 2026 4,240,000 4,187,000
Neptune Finco Corp. (Altice NV) 6.625% 2025 1,250,000 1,340,625
Netflix, Inc. 5.375% 2029 1,425,000 1,517,183
Nexstar Broadcasting, Inc. 5.625% 2024 950,000 986,537
Nexstar Escrow Corporation 5.625% 2027 4,125,000 4,238,438
Noble Corp. PLC 8.95% 2045 2,075,000 1,369,500
Norbord Inc. 5.75% 2027 925,000 936,563
Nova Chemicals Corp. 4.875% 2024 2,525,000 2,622,844
Nova Chemicals Corp. 5.25% 2027 4,000,000 4,270,000
Novelis Corp. 5.875% 2026 950,000 964,250
Novelis Corp. 6.25% 2024 860,000 903,826
NuStar Logistics, LP 6.00% 2026 1,360,000 1,411,000
Numericable Group SA 7.375% 2026 2,400,000 2,466,000
OUTFRONT Media Cap LLC, 5.00% 2027 1,620,000 1,662,444
Oasis Petroleum Inc. 6.25% 2026 1,360,000 1,322,600
Oasis Petroleum Inc. 6.875% 2022 1,500,000 1,495,313
Olin Corp. 5.125% 2027 300,000 309,375
Owens & Minor, Inc. 3.875% 2021 2,575,000 2,220,938
Owens & Minor, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 6.94% 2025 1,736,875 1,452,462
Owens-Illinois, Inc. 5.00% 2022 560,000 576,100
Owens-Illinois, Inc. 5.875% 2023 2,530,000 2,738,219
Owens-Illinois, Inc. 6.375% 2025 705,000 771,975
PAREXEL International Corp. 6.375% 2025 2,305,000 2,143,650
PDC Energy Inc. 5.75% 2026 1,600,000 1,576,000
PDC Energy, Inc., convertible notes, 1.125% 2021 640,000 602,599
Panther BF Aggregator 2 , LP 8.50% 2027 2,675,000 2,761,938
Panther BF Aggregator 2, LP 6.25% 2026 1,655,000 1,723,269
Par Pharmaceutical Companies Inc. 7.50% 2027 5,325,000 5,245,125
Peabody Energy Corp. 6.00% 2022 1,575,000 1,618,313
Peabody Energy Corp. 6.375% 2025 100,000 101,500
PetSmart, Inc., Term Loan, (3-month USD-LIBOR + 3.00%) 5.33% 2022 5,542,011 5,278,765
Petróleos Mexicanos 4.875% 2022 950,000 949,050
Petróleos Mexicanos 5.35% 2028 749,000 683,537
Petsmart, Inc. 5.875% 2025 10,775,000 10,505,625
Petsmart, Inc. 7.125% 2023 9,565,000 9,015,013
Petsmart, Inc. 8.875% 2025 8,870,000 8,581,725
Pisces Parent LLC 8.00% 2026 5,415,000 5,293,163
Pisces Parent LLC, Term Loan B, (3-month USD-LIBOR + 3.75%) 6.354% 2025 2,218,841 2,163,370
Plastipak Holdings, Inc. 6.25% 2025 200,000 182,000
Platform Specialty Products Corp. 5.875% 2025 570,000 596,363
Post Holdings, Inc. 5.00% 2026 2,865,000 2,915,138
Post Holdings, Inc. 5.50% 2029 2,150,000 2,163,438
Post Holdings, Inc. 5.625% 2028 1,955,000 2,016,094
Post Holdings, Inc. 8.00% 2025 1,550,000 1,666,250
Prestige Brands International Inc. 5.375% 2021 710,000 716,213
Prestige Brands International Inc. 6.375% 2024 1,115,000 1,172,144
Prime Security Services Borrower, LLC 9.25% 2023 1,000,000 1,052,075
PrimeSource Building Products Inc. 9.00% 2023 650,000 610,188
QEP Resources, Inc. 5.25% 2023 625,000 604,688
QEP Resources, Inc. 5.625% 2026 1,720,000 1,625,400
QGOG Constellation SA 9.50% 2024 6,144,254 2,949,303
Quintiles Transnational Corp. 4.875% 2023 3,200,000 3,288,000
Qwest Capital Funding, Inc. 6.875% 2028 1,100,000 1,020,250
R.R. Donnelley & Sons Co. 6.50% 2023 1,375,000 1,366,888
R.R. Donnelley & Sons Co. 7.875% 2021 742,000 760,550
R.R. Donnelley & Sons Co., Term Loan B, (3-month USD-LIBOR + 5.00%) 7.402% 2024 1,343,250 1,329,818
Radian Group Inc., 4.875% 2027 1,175,000 1,185,281
Range Resources Corp. 4.875% 2025 975,000 860,438
Range Resources Corp. 5.00% 2023 425,000 401,625
Rayonier Advanced Materials Inc. 5.50% 2024 1,210,000 1,040,600
Realogy Corp. 4.875% 2023 3,795,000 3,434,475
Realogy Corp. 5.25% 2021 1,025,000 989,125
Realogy Corp. 9.375% 2027 3,245,000 2,859,656
Rexnord Corp. 4.875% 2025 2,610,000 2,649,150
Reynolds Group Inc. 5.75% 2020 314,960 316,141
Reynolds Group Inc. 7.00% 2024 3,650,000 3,781,017
Rotech Healthcare Inc., Term Loan A, (3-month USD-LIBOR + 3.25%) 5.652% 2023 2,092,500 2,091,634
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.592% 2023 7,776,312 7,560,854
Ryerson Inc. 11.00% 2022 7,186,000 7,601,444
S.P.C.M. SA 4.875% 2025 1,675,000 1,687,563
SBA Communications Corp. 4.00% 2022 1,010,000 1,028,938
SBA Communications Corp. 4.875% 2022 700,000 709,625
SM Energy Co. 5.00% 2024 250,000 230,625
SM Energy Co. 5.625% 2025 1,555,000 1,422,825
SM Energy Co. 6.125% 2022 761,000 759,098
SM Energy Co. 6.625% 2027 850,000 790,500
Sally Holdings LLC and Sally Capital Inc. 5.50% 2023 1,770,000 1,784,381
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 5,380,000 5,292,575
Sanchez Energy Corp. 7.25% 2023 825,000 629,063
Scientific Games Corp. 8.25% 2026 5,610,000 5,904,469
Scientific Games Corp. 10.00% 2022 1,152,000 1,212,480
Scientific Games Corp. 5.00% 2025 1,890,000 1,913,625
Scientific Games Corp. 6.25% 2020 1,245,000 1,251,698
Scientific Games Corp. 6.625% 2021 175,000 178,281
Sealed Air Corp. 4.875% 2022 1,000,000 1,052,500
Sealed Air Corp. 5.25% 2023 405,000 427,275
Sensata Technologies Holding BV 4.875% 2023 125,000 130,781
Service Corp. International 5.125% 2029 1,050,000 1,110,375
ServiceMaster Global Holdings, Inc. 5.125% 2024 1,300,000 1,340,625
Seven Generations Energy Ltd. 5.375% 2025 1,175,000 1,135,344
Sirius XM Radio Inc. 3.875% 2022 2,650,000 2,669,875
Sirius XM Radio Inc. 4.625% 2023 900,000 913,500
Sirius XM Radio Inc. 4.625% 2024 2,045,000 2,097,720
Sirius XM Radio Inc. 5.50% 2029 1,900,000 1,952,630
Six Flags Entertainment Corp. 4.875% 2024 3,450,000 3,510,375
Solenis International, LP, Term Loan, (3-month USD-LIBOR + 4.00%) 6.33% 2025 477,588 472,693
Solera Holdings, Inc. 10.50% 2024 1,100,000 1,194,875
Sotera Health Topco, Inc. 8.125% 2021 630,000 630,000
Sotheby's 4.875% 2025 5,495,000 5,611,769
Southwestern Energy Co. 6.20% 2025 750,000 690,000
Southwestern Energy Co. 7.50% 2026 3,145,000 2,995,235
Southwestern Energy Co. 7.75% 2027 475,000 457,188
Spectrum Brands Inc. 5.75% 2025 800,000 835,000
Springleaf Finance Corp. 6.125% 2024 3,250,000 3,501,875
Springleaf Finance Corp. 6.625% 2028 1,050,000 1,105,125
Springleaf Finance Corp. 8.25% 2020 450,000 484,313
Sprint Corp. 11.50% 2021 7,130,000 8,270,800
Sprint Corp. 6.875% 2028 2,250,000 2,334,375
Sprint Corp. 7.125% 2024 750,000 797,100
Sprint Corp. 7.25% 2021 690,000 734,850
Sprint Corp. 7.875% 2023 1,580,000 1,722,200
Sprint Corp. 8.75% 2032 1,025,000 1,189,000
Standard Industries Inc. 6.00% 2025 550,000 586,438
Staples, Inc. 10.75% 2027 1,750,000 1,745,625
Staples, Inc. 7.50% 2026 8,975,000 8,944,575
Staples, Inc., Term Loan, (3 month USD-LIBOR + 4.50%) 7.101% 2024 2,250,000 2,212,031
Starfruit US Holdco LLC 8.00% 2026 1,410,000 1,455,825
Stars Group Holdings BV, 7.00% 2026 275,000 291,500
Starwood Property Trust, Inc. 5.00% 2021 1,710,000 1,761,300
Stericycle, Inc. 5.375% 2024 2,000,000 2,092,740
Sterigenics-Nordion Holdings, LLC 6.50% 2023 730,000 740,950
Summit Materials, Inc. 6.125% 2023 1,720,000 1,750,100
Summit Materials, Inc. 6.5% 03-15-27 1,035,000 1,078,988
Sunoco LP 4.875% 2023 3,625,000 3,711,094
Sunoco LP 5.50% 2026 825,000 861,094
Sunoco LP 6.0% 2027 500,000 526,250
Surgery Center Holdings 10.0% 2027 900,000 900,000
T-Mobile US, Inc. 6.375% 2025 875,000 910,875
T-Mobile US, Inc. 6.50% 2026 900,000 975,204
TPC Group Inc. 8.75% 2020 345,000 345,431
Talen Energy Corp. 10.50% 2026 4,365,000 4,365,000
Talen Energy Corp. 6.50% 2025 575,000 484,438
Talen Energy Corp. 7.25% 2027 4,400,000 4,521,000
Tallgrass Energy Partners, LP 5.50% 2024 1,000,000 1,037,500
Tapstone Energy Inc. 9.75% 2022 555,000 385,725
Targa Resources Corp. 5.875% 2026 125,000 132,969
Targa Resources Partners LP 6.50% 2027 1,105,000 1,207,213
Targa Resources Partners LP 6.75% 2024 375,000 390,938
Targa Resources Partners LP 6.875% 2029 1,230,000 1,365,300
Team Health Holdings, Inc. 6.375% 2025 4,185,000 3,222,450
Teekay Corp. 9.25% 2022 4,070,000 4,141,225
Teekay Offshore Partners LP 8.50% 2023 3,250,000 3,214,965
Tempo Acquisition LLC 6.75% 2025 950,000 983,250
Tenet Healthcare Corp. 4.375% 2021 5,755,000 5,870,100
Tenet Healthcare Corp. 4.50% 2021 905,000 921,969
Tenet Healthcare Corp. 4.625% 2024 3,942,000 4,006,058
Tenet Healthcare Corp. 4.75% 2020 2,310,000 2,341,763
Tenet Healthcare Corp. 5.125% 2025 450,000 453,375
Tenet Healthcare Corp. 6.00% 2020 4,315,000 4,466,025
Tenet Healthcare Corp. 8.125% 2022 4,050,000 4,267,688
Teva Pharmaceutical Finance Co. BV 2.20% 2021 450,000 428,625
Teva Pharmaceutical Finance Co. BV 2.80% 2023 5,431,000 4,724,970
Teva Pharmaceutical Finance Co. BV 3.15% 2026 2,260,000 1,762,800
Teva Pharmaceutical Finance Co. BV 6.00% 2024 8,192,000 7,756,800
Teva Pharmaceutical Finance Co. BV 6.75% 2028 2,050,000 1,898,813
Teva Pharmaceutical Finance Co. BV, Series C, convertible bonds, 0.25% 2026 1,375,000 1,264,141
The Dun & Bradstreet Corp. 10.25% 2027 4,993,000 5,317,545
TransDigm Inc. 6.25% 2026 1,250,000 1,310,938
Transocean Guardian Ltd. 5.875% 2024 1,044,225 1,066,415
Transocean Inc. 6.125% 2025 3,392,550 3,511,289
Transocean Inc. 7.50% 2026 350,000 335,125
Transocean Inc. 7.75% 2024 937,500 1,005,469
Transocean Inc. 8.375% 2021 2,705,000 2,857,156
Transocean Inc. 9.00% 2023 2,641,000 2,822,569
Transocean Poseidon Ltd. 6.875% 2027 655,000 693,891
Transocean Sentry Ltd. 5.375% 2023 1,200,000 1,204,500
TreeHouse Foods, Inc. 6.00% 2024 1,800,000 1,876,176
Trilogy International Partners, LLC 8.875% 2022 5,400,000 5,238,000
Tronox Ltd. 5.75% 2025 700,000 681,625
Tronox Ltd. 6.50% 2026 3,800,000 3,775,148
Twin River Worldwide Holdings, Inc. 6.75% 2027 155,000 161,975
U.S. Renal Care Inc., Term Loan B (3-month USD-LIBOR + 5.00%) 7.428% 2026 1,025,000 1,008,710
USA Compression Partners, LP 6.875% 2026 400,000 424,960
USA Compression Partners, LP 6.875% 2027 1,700,000 1,793,687
Uber Technologies, Inc. 7.50% 2023 2,725,000 2,895,313
Uber Technologies, Inc. 8.00% 2026 3,580,000 3,822,080
Ultra Petroleum Corp. 11.00% 2024 4,050,000 1,579,500
Unisys Corp. 10.75% 2022 6,600,000 7,317,750
United Continental Holdings, Inc. 6.00% 2020 400,000 418,000
United Rentals, Inc. 4.625% 2025 1,360,000 1,385,500
United States Steel Corp. 6.875% 2025 650,000 614,250
Univision Communications Inc. 5.125% 2023 4,975,000 4,887,938
Univision Communications Inc. 5.125% 2025 3,725,000 3,562,031
Valeant Pharmaceuticals International, Inc. 5.875% 2023 3,816,000 3,874,652
Valeant Pharmaceuticals International, Inc. 6.125% 2025 13,430,000 13,732,175
Valeant Pharmaceuticals International, Inc. 8.50% 2027 850,000 936,717
Valeant Pharmaceuticals International, Inc. 9.00% 2025 2,290,000 2,567,205
Valeant Pharmaceuticals International, Inc. 9.25% 2026 4,670,000 5,236,471
Venator Materials Corp. 5.75% 2025 6,235,000 5,743,994
VeriSign, Inc. 4.625% 2023 650,000 662,220
VeriSign, Inc. 5.25% 2025 200,000 214,250
Veritas Holdings Ltd. 7.50% 2023 2,830,000 2,660,200
Veritas US Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 6.902% 2023 598,469 544,607
Vertafore Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.652% 2026 1,500,000 1,469,688
ViaSat, Inc. 5.625 2027 835,000 870,488
Vine Oil & Gas LP 8.75% 2023 2,450,000 1,604,750
Vine Oil & Gas LP 9.75% 2023 1,550,000 1,011,375
Virgin Australia Holdings Ltd. 7.875% 2021 1,600,000 1,646,000
Virgin Australia Holdings Ltd. 8.50% 2019 1,875,000 1,904,531
Vistra Energy Corp. 7.625% 2024 1,289,000 1,361,506
Vizient Inc. 6.25% 2027 240,000 254,112
W&T Offshore, Inc. 9.75% 2023 855,000 822,938
WPX Energy Inc. 5.75% 2026 890,000 924,488
WPX Energy Inc. 6.00% 2022 516,000 537,285
Warner Music Group 4.875% 2024 1,000,000 1,028,750
Warner Music Group 5.00% 2023 1,200,000 1,228,500
Warner Music Group 5.50% 2026 1,000,000 1,034,900
Warrior Met Coal, Inc. 8.00% 2024 1,060,000 1,105,713
Weatherford International PLC 4.50% 2022 1,890,000 968,625
Weatherford International PLC 6.50% 2036 5,615,000 2,919,800
Weatherford International PLC 6.75% 2040 5,355,000 2,757,825
Weatherford International PLC 8.25% 2023 225,000 118,688
Weatherford International PLC 9.875% 2024 2,725,000 1,437,438
Weatherford International PLC 9.875% 2025 2,725,000 1,430,625
Weatherford International PLC, convertible notes, 5.875% 2021 650,000 336,375
WellCare Health Plans, Inc. 5.375% 2026 500,000 531,250
Whiting Petroleum Corp. 6.625% 2026 1,050,000 1,017,844
Whiting Petroleum Corp., convertible notes, 1.25% 2020 600,000 582,000
William Carter Co. 5.625% 2027 445,000 467,806
Wind Tre SpA 5.00% 2026 3,675,000 3,575,224
Wyndham Worldwide Corp. 5.375% 2026 1,000,000 1,051,250
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 2,823,000 2,826,529
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 975,000 979,875
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 1,180,000 1,221,654
Zayo Group Holdings, Inc. 5.75% 2027 200,000 204,000
Zayo Group Holdings, Inc. 6.00% 2023 900,000 924,750
Zayo Group Holdings, Inc. 6.375% 2025 300,000 307,110
Zekelman Industries Inc. 9.875% 2023 820,000 866,125
Ziggo Bond Finance BV 5.50% 2027 4,400,000 4,497,724
iHEARTCommunications, Inc. 8.375% 2027 1,257,059 1,323,080
iHeartCommunications, Inc. 6.375% 2026 828,032 882,889
iHeartCommunications, Inc., Term Loan D, (3-month USD-LIBOR + 4.00%) 2026 860,143 862,293
iStar Financial Inc. 6.50% 2021 700,000 714,000
inVentiv Health, Inc. 7.50% 2024 3,040,000 3,192,000
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
Adelphia Recovery Trust, Series ACC-1 449,306 225 0.00
Adelphia Recovery Trust, Series Arahova 388,601 1,477 0.00
Advanz Pharma Corp. 80,350 1,327,149 0.10
Advanz Pharma Corp. 29,684 490,294 0.04
Ascent Resources - Utica, LLC, Class A 6,297,894 1,385,537 0.11
Associated Materials, LLC, 14.00% convertible preferred 2020 4,850 4,833,850 0.38
Associated Materials, LLC, warrants, expire 2023 68,899 0 0.00
Clear Channel Outdoor Holdings, Inc. 53,237 251,279 0.02
Cornerstone Building Brands Inc. 1,541 8,984 0.00
Corporate Risk Holdings I, Inc. 218,504 25,631 0.00
Diebold Nixdorf, Inc. 107,000 980,120 0.08
Dominion Energy, Inc., Series A units, 7.25% convertible preferred 2022 8,600 890,616 0.07
Frontier Communications Corp. 13,333 23,333 0.00
Liberman Broadcasting, Inc., warrants, expire 2022 1 0 0.00
Neiman Marcus Group, Inc. Perferred 2,470,906 2,291,765 0.18
Rotech Healthcare Inc. 201,793 1,210,758 0.09
Tribune Resources, Inc. 1,006,339 2,641,640 0.21
Tribune Resources, Inc., Class A, warrants, expire 2023 336,564 56,004 0.00
Tribune Resources, Inc., Class B, warrants, expire 2023 261,772 31,099 0.00
Tribune Resources, Inc., Class C, warrants, expire 2023 247,225 22,052 0.00
Ultra Petroleum Corp., warrants, expire 2025 80,710 2,825 0.00
iHeartMedia, Inc., Class A 22,639 340,717 0.03

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.