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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21654
Pioneer Floating Rate Trust
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Terrence J. Cullen, Pioneer Investment Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 742-7825
Date of fiscal year end: November 30
Date of reporting period: August 31, 2015
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609. The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.
<PAGE>
ITEM 1. Schedule of Investments.
File the schedules as of the close of the reporting period as set forth in
ss. 210.12-12 12-14 of Regulation S-X [17 CFR 210.12-12 12-14]. The
schedules need not be audited.
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Pioneer Floating
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Rate Trust
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NQ | August 31, 2015
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Ticker Symbol: PHD
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Principal
Amount
USD ($)
|
Value
|
|||
|
SENIOR SECURED FLOATING RATE
LOAN INTERESTS - 140.1% of Net Assets*(a)
|
||||
|
AUTOMOBILES & COMPONENTS - 8.5%
|
||||
|
Auto Parts & Equipment - 6.5%
|
||||
|
2,866,408(a)
|
Allison Transmission, Inc., Term Loan B-3, 3.5%, 8/23/19
|
$ 2,864,161
|
||
|
2,394,000(a)
|
BBB Industries US Holdings, Inc., First Lien Initial Term Loan, 6.0%, 11/3/21
|
2,407,466
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||
|
1,172,710(a)
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Cooper Standard Intermediate Holdco 2 LLC, Term Loan, 4.0%, 4/4/21
|
1,167,867
|
||
|
2,359,675(a)
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Crowne Group LLC, First Lien Initial Term Loan, 6.0%, 9/30/20
|
2,353,776
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||
|
1,025,897(a)
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Electrical Components International, Inc., Term Loan B, 5.75%, 5/28/21
|
1,029,949
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||
|
1,697,980(a)
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Federal-Mogul Corp., Tranche C Term Loan, 4.75%, 4/15/21
|
1,665,790
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||
|
1,980,000(a)
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Henniges Automotive Holdings, Inc., Term Loan, 5.5%, 6/12/21
|
1,984,950
|
||
|
1,687,250(a)
|
Key Safety Systems, Inc., Initial Term Loan, 4.75%, 8/29/21
|
1,682,505
|
||
|
1,335,059(a)
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MPG Holdco I, Inc., Initial Term Loan, 3.75%, 10/20/21
|
1,335,720
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||
|
497,449(a)
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Remy International, Inc., Term B Loan 2013, 4.25%, 3/5/20
|
498,227
|
||
|
778,030(a)
|
TI Group Automotive Systems LLC, Initial US Term Loan, 4.5%, 6/30/22
|
775,760
|
||
|
2,352,337(a)
|
Tower Automotive Holdings USA LLC, Refinancing Term Loan, 4.0%, 4/23/20
|
2,342,535
|
||
|
168,561(a)
|
UCI International, Inc. (United Components), Term Loan, 5.5%, 7/26/17
|
167,929
|
||
|
$ 20,276,635
|
||||
|
Automobile Manufacturers - 1.2%
|
||||
|
3,235,583(a)
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Chrysler Group LLC, Term Loan B, 3.5%, 5/24/17
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$ 3,232,940
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||
|
466,667(a)
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Visteon Corp., Initial Term Loan, 3.5%, 4/9/21
|
465,690
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||
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$ 3,698,630
|
||||
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Tires & Rubber - 0.8%
|
||||
|
2,500,000(a)
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Goodyear Tire & Rubber Co., Second Lien Term Loan, 3.75%, 4/30/19
|
$ 2,510,125
|
||
|
Total Automobiles & Components
|
$ 26,485,390
|
|||
|
BANKS - 0.3%
|
||||
|
Thrifts & Mortgage Finance - 0.3%
|
||||
|
915,998(a)
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Ocwen Loan Servicing, Initial Term Loan, 5.0%, 2/15/18
|
$ 914,853
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||
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Total Banks
|
$ 914,853
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|||
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CAPITAL GOODS - 14.4%
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||||
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Aerospace & Defense - 4.5%
|
||||
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1,098,907(a)
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Accudyne Industries Borrower SCA/Accudyne Industries LLC, Refinancing Term Loan, 4.0%, 12/13/19
|
$ 1,039,154
|
||
|
1,250,000(a)
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Alion Science and Technology Corp., First Lien Term Loan, 5.5%, 8/13/21
|
1,248,048
|
||
|
1,571,455(a)
|
BE Aerospace, Inc., Term Loan, 4.0%, 12/16/21
|
1,582,258
|
||
|
728,528(a)
|
CPI International, Inc., Term B Loan, 4.25%, 11/17/17
|
715,779
|
||
|
352,449(a)
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DAE Aviation Holdings, Inc., Initial Term Loan, 5.25%, 7/7/22
|
352,339
|
||
|
2,002,615(a)
|
Digitalglobe, Inc., Term Loan, 3.75%, 1/31/20
|
2,001,363
|
||
|
1,398,572(a)
|
DynCorp International, Inc., Term Loan, 6.25%, 7/7/16
|
1,372,932
|
||
|
249,419(a)
|
IAP Worldwide Services, Inc., First Lien Term Loan, 8.0%, 7/18/19
|
250,666
|
||
|
992,506(a)
|
TASC, Inc., First Lien New Term Loan, 7.0%, 5/22/20
|
999,330
|
||
|
707,312(a)
|
TASC, Inc., First Lien Term Loan, 7.0%, 5/22/20
|
712,175
|
||
|
1,521,986(a)
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Vencore, Inc. (fka SI Organization, Inc.), First Lien Initial Term Loan, 5.75%, 11/23/19
|
1,521,351
|
||
|
1,815,639(a)
|
WP CPP Holdings LLC, First Lien Term B-3 Loan, 4.5%, 12/28/19
|
1,808,263
|
||
|
334,900(a)
|
WP CPP Holdings LLC, Second Lien Term Loan B-1, 8.75%, 4/30/21
|
329,876
|
||
|
$ 13,933,534
|
||||
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Building Products - 3.2%
|
||||
|
1,304,963(a)
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Armstrong World Industries, Inc., Term Loan B, 3.5%, 3/15/20
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$ 1,302,244
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1,750,000(a)
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Builders FirstSource, Inc., Term Loan B, 5.0%, 7/22/22
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1,747,083
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||
|
434,742(a)
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NCI Building Systems, Inc., Tranche B Term Loan, 4.25%, 6/24/19
|
433,926
|
||
|
1,662,091(a)
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Nortek, Inc., Incremental-1 Term Loan, 3.5%, 10/30/20
|
1,651,703
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||
|
472,673(a)
|
Quikrete Holdings, Inc., Initial First Lien Loan, 4.0%, 9/28/20
|
471,934
|
||
|
884,211(a)
|
Quikrete Holdings, Inc., Initial Second Lien Loan, 7.0%, 3/26/21
|
888,632
|
||
|
1,710,000(a)
|
Summit Materials LLC, Restatement Effective Date Term Loan, 4.25%, 7/18/22
|
1,703,054
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|
447,727(a)
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Ultima US Holdings LLC, First Lien Term Loan B, 5.5%, 7/2/20
|
448,287
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|
Principal
Amount
USD ($)
|
Value
|
|||
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Building Products - (continued)
|
||||
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1,473,010(a)
|
Unifrax Holding Co., New Term B Dollar Loan, 4.25%, 11/28/18
|
$ 1,471,168
|
||
|
$ 10,118,031
|
||||
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Construction & Farm Machinery & Heavy Trucks - 0.9%
|
||||
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404,400(a)
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Manitowoc Co., Inc., Term Loan B, 3.25%, 1/3/21
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$ 401,488
|
||
|
1,620,000(a)
|
Navistar, Inc., Tranche B Term Loan, 7.75%, 8/17/20
|
1,606,838
|
||
|
849,515(a)
|
Terex Corp., US Term Loan, 3.5%, 8/13/21
|
851,214
|
||
|
$ 2,859,540
|
||||
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Electrical Components & Equipment - 1.3%
|
||||
|
2,016,078(a)
|
Pelican Products, Inc., First Lien Term Loan, 5.25%, 4/10/20
|
$ 2,019,858
|
||
|
600,000(a)
|
Southwire Company LLC, Initial Term Loan, 3.0%, 2/10/21
|
594,000
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||
|
1,601,243(a)
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WireCo WorldGroup, Inc., Term Loan, 6.0%, 2/15/17
|
1,607,247
|
||
|
$ 4,221,105
|
||||
|
Industrial Conglomerates - 1.5%
|
||||
|
497,277(a)
|
Doosan Infracore International, Inc. (Doosan Holdings Europe, Ltd.), Tranche B Term Loan, 4.5%, 5/28/21
|
$ 499,142
|
||
|
207,320(a)
|
Faenza Acquisition GmbH (CeramTec Acquisition Corp.), Dollar Term B-3 Loan, 4.25%, 8/30/20
|
207,450
|
||
|
684,994(a)
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Faenza Acquisition GmbH (CeramTec Acquisition Corp.), Initial Dollar Term B-1 Loan, 4.25%, 8/30/20
|
685,422
|
||
|
70,416(a)
|
Faenza Acquisition GmbH (CeramTec Acquisition Corp.), Initial Dollar Term B-2 Loan, 4.25%, 8/30/20
|
70,460
|
||
|
1,000,000(a)
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Filtration Group Corp., First Lien Term Loan, 4.25%, 11/23/20
|
1,000,750
|
||
|
378,990(a)
|
Filtration Group Corp., Second Lien Initial Term Loan, 8.25%, 11/22/21
|
381,987
|
||
|
421,813(a)
|
Gates Global LLC, Initial Dollar Term Loan, 4.25%, 7/6/21
|
404,764
|
||
|
169,186(a)
|
Kleopatra Holdings 2 SCA, Initial German Borrower Dollar Term Loan, 5.0%, 4/28/20
|
169,529
|
||
|
395,894(a)
|
Kleopatra Holdings 2 SCA, Initial US Borrower Dollar Term Loan, 5.0%, 4/28/20
|
396,698
|
||
|
727,161(a)
|
Milacron LLC, Term Loan, 4.5%, 9/28/20
|
728,525
|
||
|
$ 4,544,727
|
||||
|
Industrial Machinery - 2.3%
|
||||
|
879,485(a)
|
Gardner Denver, Inc., Initial Dollar Term Loan, 4.25%, 7/30/20
|
$ 841,190
|
||
|
1,990,000(a)
|
Mueller Water Products, Inc., Initial Term Loan, 4.0%, 11/24/21
|
1,997,453
|
||
|
987,054(a)
|
NN, Inc., Term Loan, 6.0%, 8/27/21
|
988,892
|
||
|
1,860,930(a)
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Schaeffler AG, Facility B-USD, 4.25%, 5/15/20
|
1,871,785
|
||
|
485,194(a)
|
Wastequip LLC, Term Loan, 5.5%, 8/9/19
|
484,385
|
||
|
1,089,993(a)
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Xerium Technologies, Inc., New Term Loan, 5.75%, 5/17/19
|
1,095,443
|
||
|
$ 7,279,148
|
||||
|
Trading Companies & Distributors - 0.7%
|
||||
|
1,361,890(a)
|
AWAS Finance Luxembourg 2012 SA, Term Loan, 3.5%, 7/16/18
|
$ 1,368,700
|
||
|
711,169(a)
|
WESCO Distribution, Inc., Tranche B-1 Loan, 3.75%, 12/12/19
|
711,613
|
||
|
$ 2,080,313
|
||||
|
Total Capital Goods
|
$ 45,036,398
|
|||
|
COMMERCIAL & PROFESSIONAL SERVICES - 5.7%
|
||||
|
Diversified Support Services - 1.8%
|
||||
|
806,678(a)
|
DH Publishing LP, Term B-3 Loan, 4.0%, 8/19/22
|
$ 805,670
|
||
|
1,067,925(a)
|
InfoGroup, Inc., Term Loan B, 7.5%, 5/26/18
|
1,033,218
|
||
|
706,524(a)
|
KAR Auction Services, Inc., Tranche B-2 Term Loan, 3.5%, 3/11/21
|
706,524
|
||
|
624,459(a)
|
Language Line LLC, First Lien Initial Term Loan, 6.5%, 7/7/21
|
622,898
|
||
|
1,500,000(a)
|
Language Line LLC, Second Lien Initial Term Loan, 10.75%, 7/7/22
|
1,505,625
|
||
|
1,000,000(a)
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Ryan LLC, Tranche B Term Loan, 6.75%, 8/7/20
|
993,750
|
||
|
$ 5,667,685
|
||||
|
Environmental & Facilities Services - 2.1%
|
||||
|
574,307(a)
|
ADS Waste Holdings, Inc., Initial Tranche B-2 Term Loan, 3.75%, 10/9/19
|
$ 571,149
|
||
|
476,533(a)
|
Granite Acquisition, Inc., First Lien Term B Loan, 5.0%, 12/17/21
|
477,873
|
||
|
21,073(a)
|
Granite Acquisition, Inc., First Lien Term C Loan, 5.0%, 12/17/21
|
21,132
|
||
|
1,500,000(a)
|
Granite Acquisition, Inc., Second Lien Term B Loan, 8.25%, 12/19/22
|
1,506,250
|
||
|
500,000(a)
|
Infiltrator Systems Integrated LLC, Second Lien Term Loan, 9.75%, 5/26/23
|
497,500
|
||
|
1,089,400(a)
|
US Ecology, Inc., Term Loan, 3.75%, 6/17/21
|
1,094,166
|
|
743,138(a)
|
Waste Industries USA, Inc., Initial Term Loan, 4.25%, 2/27/20
|
747,782
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Environmental & Facilities Services - (continued)
|
||||
|
1,759,993(a)
|
WCA Waste Corp. (WCA Waste Systems, Inc.), Term Loan, 4.0%, 3/23/18
|
$ 1,753,393
|
||
|
$ 6,669,245
|
||||
|
Human Resource & Employment Services - 0.2%
|
||||
|
661,544(a)
|
On Assignment, Inc., Initial Term B Loan, 3.75%, 6/3/22
|
$ 662,366
|
||
|
Research & Consulting Services - 0.3%
|
||||
|
830,376(a)
|
Wyle Services Corp., Term Loan, 5.0%, 5/23/21
|
$ 828,647
|
||
|
Security & Alarm Services - 1.3%
|
||||
|
1,004,212(a)
|
Allied Security Holdings LLC, Second Lien Closing Date Term Loan, 4.25%, 2/12/21
|
$ 1,002,956
|
||
|
119,285(a)
|
Garda Security, Term B Delayed Draw Loan, 5.25%, 11/6/20
|
118,129
|
||
|
466,295(a)
|
Garda Security, Term B Loan, 5.25%, 11/6/20
|
461,778
|
||
|
1,166,624(a)
|
GEO Group, Inc., Term Loan, 3.25%, 4/3/20
|
1,168,812
|
||
|
1,120,050(a)
|
Protection One, Inc., 2012 Term Loan, 5.0%, 7/1/21
|
1,121,450
|
||
|
$ 3,873,125
|
||||
|
Total Commercial & Professional Services
|
$ 17,701,068
|
|||
|
CONSUMER DURABLES & APPAREL - 2.9%
|
||||
|
Home Furnishings - 1.0%
|
||||
|
1,867,406(a)
|
Serta Simmons Holdings LLC, Term Loan, 4.25%, 10/1/19
|
$ 1,869,852
|
||
|
1,147,594(a)
|
Tempur Pedic International, Inc., New Term Loan B, 3.5%, 3/18/20
|
1,149,736
|
||
|
$ 3,019,588
|
||||
|
Homebuilding - 0.1%
|
||||
|
1,000,000(b)(c)(c)
|
WAICCS Las Vegas 3 LLC, First Lien Term Loan, 7.75%, 7/30/09
|
$ 450,000
|
||
|
4,500,000(b)(c)(c)
|
WAICCS Las Vegas 3 LLC, Second Lien Term Loan, 13.25%, 7/30/09
|
248
|
||
|
$ 450,248
|
||||
|
Housewares & Specialties - 1.5%
|
||||
|
1,004,125(a)
|
Prestige Brands, Inc., Term B-3 Loan, 5.0%, 9/3/21
|
$ 1,004,125
|
||
|
2,219,391(a)
|
Reynolds Group Holdings, Inc., Incremental US Term Loan, 4.5%, 12/1/18
|
2,223,552
|
||
|
1,562,391(a)
|
World Kitchen LLC, US Term Loan, 5.5%, 3/4/19
|
1,562,391
|
||
|
$ 4,790,068
|
||||
|
Leisure Products - 0.3%
|
||||
|
600,000(a)
|
Bombardier Recreational Products, Inc., Term B Loan, 3.75%, 1/30/19
|
$ 600,249
|
||
|
414,781(a)
|
Marine Acquisition Corp., Term Loan, 5.25%, 1/30/21
|
416,510
|
||
|
$ 1,016,759
|
||||
|
Total Consumer Durables & Apparel
|
$ 9,276,663
|
|||
|
CONSUMER SERVICES - 9.5%
|
||||
|
Casinos & Gaming - 1.6%
|
||||
|
1,045,654(a)
|
CityCenter Holdings LLC, Term B Loan, 4.25%, 10/16/20
|
$ 1,046,868
|
||
|
700,000(a)
|
Eldorado Resorts, Inc., Initial Term Loan, 4.25%, 7/25/22
|
702,179
|
||
|
1,462,500(a)
|
MGM Resorts International (MGM Grand Detroit LLC), Term B Loan, 3.5%, 12/20/19
|
1,452,598
|
||
|
1,940,250(a)
|
Scientific Games International, Inc., Initial Term B-2 Loan, 6.0%, 10/1/21
|
1,922,869
|
||
|
$ 5,124,514
|
||||
|
Education Services - 1.5%
|
||||
|
3,440,525(a)
|
Bright Horizons Family Solutions LLC, Term B Loan, 5.0%, 1/30/20
|
$ 3,443,292
|
||
|
1,465,837(a)
|
Laureate Education, Inc., Series 2018 Extended Term Loan, 5.0%, 6/15/18
|
1,319,253
|
||
|
$ 4,762,545
|
||||
|
Hotels, Resorts & Cruise Lines - 0.4%
|
||||
|
569,079(a)
|
Hilton Worldwide Finance LLC, Initial Term Loan, 3.5%, 10/26/20
|
$ 569,211
|
||
|
522,375(a)
|
NCL Corp., Ltd., Term B Loan, 4.0%, 11/19/21
|
523,350
|
||
|
$ 1,092,561
|
||||
|
Internet Software & Services - 0.3%
|
||||
|
972,563(a)
|
Sabre, Inc., Term B Loan, 4.0%, 2/19/19
|
$ 972,461
|
||
|
Leisure Facilities - 1.6%
|
||||
|
850,457(a)
|
Cedar Fair LP, US Term Facility, 3.25%, 3/6/20
|
$ 855,108
|
||
|
2,227,500(a)
|
Fitness International LLC, Term B Loan, 5.5%, 7/1/20
|
2,132,136
|
||
|
615,000(a)
|
Life Time Fitness, Inc., Closing Date Term Loan, 4.25%, 6/10/22
|
610,964
|
||
|
1,500,000(a)
|
Six Flags Theme Parks, Inc., Tranche B Term Loan, 3.5%, 6/30/22
|
1,504,445
|
||
|
$ 5,102,653
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Restaurants - 2.2%
|
||||
|
758,978(a)
|
1011778 BC Unlimited Liability Co. (New Red Finance, Inc.) (aka Burger King/Tim Hortons), Term B-2 Loan, 3.75%, 12/10/21
|
$ 759,531
|
||
|
2,253,727(a)
|
Landry's, Inc. (fka Landry's Restaurants, Inc.), Term Loan B, 4.0%, 4/24/18
|
2,262,782
|
||
|
1,765,688(a)
|
NPC International, Inc., Term Loan, 4.0%, 12/28/18
|
1,752,445
|
||
|
1,985,000(a)
|
Red Lobster Management LLC, First Lien Initial Term Loan, 6.25%, 7/28/21
|
2,000,715
|
||
|
$ 6,775,473
|
||||
|
Specialized Consumer Services - 1.9%
|
||||
|
2,487,500(a)
|
Creative Artists Agency LLC, Initial Term Loan, 5.5%, 12/17/21
|
$ 2,513,308
|
||
|
1,485,000(a)
|
Genex Holdings, Inc., First Lien Term B Loan, 5.25%, 5/28/21
|
1,492,425
|
||
|
1,750,000(a)
|
KC MergerSub, Inc., First Lien Initial Term Loan, 6.0%, 8/12/22
|
1,723,750
|
||
|
384,795(a)
|
Weight Watchers International, Inc., Initial Tranche B-2 Term Loan, 4.0%, 4/2/20
|
196,406
|
||
|
$ 5,925,889
|
||||
|
Total Consumer Services
|
$ 29,756,096
|
|||
|
DIVERSIFIED FINANCIALS - 4.7%
|
||||
|
Asset Management & Custody Banks - 0.5%
|
||||
|
1,510,087(a)
|
Vistra Group Ltd., USD Term Loan, 4.75%, 7/21/22
|
$ 1,513,862
|
||
|
Consumer Finance - 0.4%
|
||||
|
1,382,500(a)
|
Trans Union LLC, Term B-2 Loan, 3.75%, 4/9/21
|
$ 1,373,859
|
||
|
Investment Banking & Brokerage - 0.9%
|
||||
|
1,198,071(a)
|
Duff & Phelps Corp., Initial Term Loan, 4.75%, 4/23/20
|
$ 1,199,569
|
||
|
736,875(a)
|
Guggenheim Partners Investment Management Holdings LLC, Initial Term Loan, 4.25%, 7/22/20
|
740,790
|
||
|
104,772(a)
|
LPL Holdings, Inc., 2013 Incremental Tranche B Term Loan, 3.25%, 3/29/19
|
104,497
|
||
|
750,000(a)
|
MJ Acquisition Corp., Term Loan, 4.0%, 6/1/22
|
749,522
|
||
|
$ 2,794,378
|
||||
|
Other Diversified Financial Services - 2.5%
|
||||
|
449,643(a)
|
CTI Foods Holding Co., LLC, First Lien Term Loan, 4.5%, 6/29/20
|
$ 444,304
|
||
|
1,000,000(a)
|
CTI Foods Holding Co., LLC, Second Lien Term Loan, 8.25%, 6/28/21
|
980,000
|
||
|
325,000(a)
|
Delos Finance S.a.r.l., Term Loan, 3.5%, 3/6/21
|
325,203
|
||
|
823,415(a)
|
Fly Funding II S.a.r.l., Term Loan, 3.5%, 8/9/19
|
820,841
|
||
|
2,009,000(a)
|
Livingston International, Inc., First Lien Initial Term B-1 Loan, 5.0%, 4/18/19
|
1,968,820
|
||
|
2,537,921(a)
|
Nord Anglia Education Finance LLC, Initial Term Loan, 4.5%, 3/31/21
|
2,529,990
|
||
|
787,459(a)
|
Ship Luxco 3 S.a.r.l. (RBS Worldpay), Facility B2A, 5.25%, 11/29/19
|
792,380
|
||
|
$ 7,861,538
|
||||
|
Specialized Finance - 0.4%
|
||||
|
746,250(a)
|
DBRS, Ltd., Initial Term Loan, 6.25%, 3/4/22
|
$ 749,981
|
||
|
325,000(a)
|
Royal Holdings, Inc., Second Lien Initial Term Loan, 8.5%, 6/19/23
|
324,188
|
||
|
$ 1,074,169
|
||||
|
Total Diversified Financials
|
$ 14,617,806
|
|||
|
ENERGY - 4.1%
|
||||
|
Coal & Consumable Fuels - 0.1%
|
||||
|
222,015(a)
|
Foresight Energy LLC, Term Loan, 5.5%, 8/21/20
|
$ 210,914
|
||
|
783,333(a)
|
PT Bumi Resources Tbk, Term Loan, 18.153%, 11/7/15
|
293,750
|
||
|
$ 504,664
|
||||
|
Integrated Oil & Gas - 1.0%
|
||||
|
1,450,000(a)
|
Chief Exploration & Development LLC, Second Lien Term Loan, 7.5%, 5/16/21
|
$ 1,269,958
|
||
|
199,550(a)
|
Glenn Pool Oil & Gas Trust 1, Term Loan, 4.5%, 5/2/16
|
199,051
|
||
|
1,500,000(a)
|
TerraForm AP Acquisition Holdings LLC, Term Loan, 5.0%, 6/26/22
|
1,492,500
|
||
|
$ 2,961,509
|
||||
|
Oil & Gas Drilling - 0.8%
|
||||
|
2,500,000(a)
|
Jonah Energy LLC, Second Lien Initial Term Loan, 7.5%, 5/12/21
|
$ 2,100,000
|
||
|
126,180(a)
|
Offshore Group Investment, Ltd. (Vantage Delaware Holdings LLC), Second Lien Term Loan, 5.75%, 3/28/19
|
58,358
|
||
|
410,806(a)
|
Pacific Drilling SA, Term Loan, 4.5%, 6/3/18
|
299,546
|
||
|
$ 2,457,904
|
||||
|
Oil & Gas Equipment & Services - 0.5%
|
||||
|
1,664,151(a)
|
FR Dixie Acquisition Corp., Term Loan, 5.75%, 12/18/20
|
$ 1,339,642
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Oil & Gas Equipment & Services - (continued)
|
||||
|
679,229(a)
|
Templar Energy LLC, Second Lien New Term Loan, 8.5%, 11/25/20
|
$ 326,030
|
||
|
$ 1,665,672
|
||||
|
Oil & Gas Exploration & Production - 0.7%
|
||||
|
1,516,667(a)
|
EP Energy LLC, Tranche B-3 Term Loan, 3.5%, 5/24/18
|
$ 1,445,258
|
||
|
91,773(a)
|
Fieldwood Energy LLC, Closing Date Second Lien Term Loan, 8.375%, 9/30/20
|
35,027
|
||
|
885,612(a)
|
Fieldwood Energy LLC, Closing Date Term Loan, 3.875%, 10/1/18
|
778,231
|
||
|
$ 2,258,516
|
||||
|
Oil & Gas Refining & Marketing - 0.8%
|
||||
|
1,271,706(a)
|
Pilot Travel Centers LLC, Initial Tranche B Term Loan, 4.25%, 10/1/21
|
$ 1,281,715
|
||
|
1,145,980(a)
|
Western Refining, Inc., Term Loan 2013, 4.25%, 11/12/20
|
1,142,757
|
||
|
$ 2,424,472
|
||||
|
Oil & Gas Storage & Transportation - 0.2%
|
||||
|
693,000(a)
|
Southcross Energy Partners LP, Initial Term Loan, 5.25%, 8/4/21
|
$ 658,350
|
||
|
Total Energy
|
$ 12,931,087
|
|||
|
FOOD & STAPLES RETAILING - 2.1%
|
||||
|
Drug Retail - 0.5%
|
||||
|
1,727,550(a)
|
Hearthside Group Holdings LLC, Term Loan, 4.5%, 6/2/21
|
$ 1,730,207
|
||
|
Food Distributors - 0.8%
|
||||
|
2,450,046(a)
|
Mill US Acquisition, First Lien Term Loan, 5.0%, 7/3/20
|
$ 2,447,290
|
||
|
Food Retail - 0.8%
|
||||
|
1,975,415(a)
|
Albertson's LLC, Term B-2 Loan, 5.375%, 3/21/19
|
$ 1,979,676
|
||
|
497,500(a)
|
Packers Holdings LLC, Term Loan, 5.0%, 12/2/21
|
500,298
|
||
|
$ 2,479,974
|
||||
|
Total Food & Staples Retailing
|
$ 6,657,471
|
|||
|
FOOD, BEVERAGE & TOBACCO - 2.1%
|
||||
|
Packaged Foods & Meats - 2.1%
|
||||
|
839,918(a)
|
AdvancePierre Foods, Inc., First Lien Term Loan, 5.75%, 7/10/17
|
$ 842,748
|
||
|
1,198,284(a)
|
Boulder Brands, Inc. (fka Smart Balance, Inc.), Term Loan, 4.5%, 7/9/20
|
1,180,809
|
||
|
1,000,000(a)
|
Del Monte Foods, Inc., Second Lien Initial Term Loan, 8.25%, 8/18/21
|
905,000
|
||
|
1,945,801(a)
|
Pinnacle Foods Finance LLC, New Term Loan G, 3.0%, 4/29/20
|
1,938,353
|
||
|
294,279(a)
|
Post Holdings, Inc., Series A Incremental Term Loan, 3.75%, 6/2/21
|
294,437
|
||
|
1,488,750(a)
|
Shearer's Foods LLC, First Lien Term Loan, 4.5%, 6/30/21
|
1,482,237
|
||
|
$ 6,643,584
|
||||
|
Total Food, Beverage & Tobacco
|
$ 6,643,584
|
|||
|
HEALTH CARE EQUIPMENT & SERVICES - 12.1%
|
||||
|
Health Care Equipment - 1.2%
|
||||
|
696,474(a)
|
Accellent, Inc., Initial First Lien Term Loan, 4.5%, 3/12/21
|
$ 693,426
|
||
|
1,759,000(a)
|
Accellent, Inc., Second Lien Term Loan, 7.5%, 3/11/22
|
1,767,795
|
||
|
869,032(a)
|
Kinetic Concepts, Inc., Dollar E-1 Term Loan, 4.5%, 5/4/18
|
869,498
|
||
|
725,000(a)
|
Physio-Control International, Inc., First Lien Initial Term Loan, 5.5%, 6/6/22
|
726,812
|
||
|
$ 4,057,531
|
||||
|
Health Care Facilities - 2.0%
|
||||
|
693,000(a)
|
AmSurg Corp., Initial Term Loan, 3.5%, 7/16/21
|
$ 693,816
|
||
|
300,913(a)
|
CHS/Community Health Systems, Inc., Incremental 2018 Term F Loan, 3.448%, 12/31/18
|
300,944
|
||
|
282,397(a)
|
CHS/Community Health Systems, Inc., Incremental 2019 Term G Loan, 3.75%, 12/31/19
|
282,529
|
||
|
519,602(a)
|
CHS/Community Health Systems, Inc., Incremental 2021 Term H Loan, 4.0%, 1/27/21
|
521,386
|
||
|
1,580,597(a)
|
Iasis Healthcare LLC, Term B-2 Loan, 4.5%, 5/3/18
|
1,585,208
|
||
|
1,077,375(a)
|
Kindred Healthcare, Inc., Incremental Term Loan, 4.25%, 4/9/21
|
1,080,729
|
||
|
1,554,173(a)
|
Regionalcare Hospital Partners, Inc., First Lien Term Loan, 5.25%, 4/23/19
|
1,543,488
|
||
|
423,877(a)
|
Select Medical Corp., Series E, Tranche B Term Loan, 3.75%, 6/1/18
|
423,609
|
||
|
$ 6,431,709
|
||||
|
Health Care Services - 5.7%
|
||||
|
568,204(a)
|
AccentCare, Inc., Term Loan, 6.5%, 12/22/16
|
$ 558,734
|
||
|
1,121,650(a)
|
Alliance Healthcare Services, Inc., Initial Term Loan, 4.25%, 6/3/19
|
1,120,248
|
||
|
267,625(a)
|
Ardent Legacy Acquisitions, Inc. (Ardent Mergeco LLC), Term Loan, 6.5%, 7/31/21
|
268,963
|
||
|
375,000(a)
|
Bioscrip, Inc., Delayed Term Loan, 6.5%, 7/31/20
|
358,125
|
||
|
625,000(a)
|
Bioscrip, Inc., Initial Term B Loan, 6.25%, 7/31/20
|
596,875
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Health Care Services - (continued)
|
||||
|
865,683(a)
|
BSN Medical Luxembourg Holding S.a.r.l. (P & F Capital), Facility Term Loan B-1A, 4.0%, 8/28/19
|
$ 865,683
|
||
|
1,099,951(d)
|
CCS Medical, Inc., Second Lien Term Loan, 12.25%
(7.0% PIK 5.25% cash), 3/31/16
|
192,491
|
||
|
880,094(a)
|
DaVita HealthCare Partners, Inc., Term Loan B2, 3.5%, 6/24/21
|
880,920
|
||
|
1,170,023(a)
|
Emergency Medical Services Corp., Initial Term Loan, 4.0%, 5/25/18
|
1,170,754
|
||
|
350,000(a)
|
Genoa Healthcare Co., LLC, Initial First Lien Term Loan, 4.5%, 4/29/22
|
350,109
|
||
|
750,000(a)
|
Global Healthcare Exchange LLC, Initial Term Loan, 5.5%, 8/13/22
|
751,875
|
||
|
1,000,000(a)
|
HC Group Holdings III, Inc., Initial Term Loan, 6.0%, 4/7/22
|
1,004,167
|
||
|
1,256,594(a)
|
National Mentor Holdings, Inc., Tranche B Term Loan, 4.25%, 1/31/21
|
1,253,846
|
||
|
355,555(a)
|
National Surgical Hospitals, Inc., Term Loan, 4.5%, 6/1/22
|
356,777
|
||
|
694,763(a)
|
NVA Holdings, Inc., First Lien Term Loan, 4.75%, 8/14/21
|
695,487
|
||
|
912,500(a)
|
Pharmaceutical Product Development, First Lien Term B Loan, 4.25%, 8/6/22
|
908,888
|
||
|
1,864,028(d)
|
Rural/Metro Operating Co., LLC, First Lien Term Loan, 9.0% (1.0% PIK 8.0% cash), 6/30/18
|
1,873,348
|
||
|
1,524,237(a)
|
Steward Health Care System LLC, Term Loan, 6.75%, 4/10/20
|
1,509,947
|
||
|
995,000(a)
|
Surgery Center Holdings, Inc., Initial Term Loan, 5.25%, 11/3/20
|
995,777
|
||
|
1,423,271(a)
|
US Renal Care, Inc., Tranche B-2 First Lien Term Loan, 4.25%, 7/3/19
|
1,421,492
|
||
|
593,754(a)
|
Valitas Health Services, Inc., Term Loan B, 6.0%, 6/2/17
|
585,590
|
||
|
$ 17,720,096
|
||||
|
Health Care Supplies - 1.1%
|
||||
|
1,050,000(a)
|
Alere, Inc., Term Loan B, 4.25%, 6/20/22
|
$ 1,050,507
|
||
|
434,647(a)
|
Halyard Health, Inc., Term Loan, 4.0%, 11/1/21
|
436,369
|
||
|
926,358(a)
|
Immucor, Inc. (fka IVD Acquisition Corp.), Term B-2 Loan, 5.0%, 8/19/18
|
925,972
|
||
|
840,000(a)
|
Sterigenics-Nordion Holdings LLC, Initial Term Loan, 4.25%, 5/16/22
|
838,950
|
||
|
$ 3,251,798
|
||||
|
Health Care Technology - 1.9%
|
||||
|
1,250,000(a)
|
ConvaTec, Inc., Dollar Term Loan, 4.25%, 6/15/20
|
$ 1,250,000
|
||
|
2,055,915(a)
|
Emdeon, Inc., Term B-2 Loan, 3.75%, 11/2/18
|
2,054,202
|
||
|
198,500(a)
|
Emdeon, Inc., Term B-3 Loan, 3.75%, 11/2/18
|
197,962
|
||
|
445,700(a)
|
MedAssets, Inc., Term B Loan, 4.0%, 12/13/19
|
444,586
|
||
|
990,117(a)
|
Medical Card System, Inc., Term Loan, 12.0%, 3/17/17
|
950,512
|
||
|
1,099,771(a)
|
Truven Health Analytics, Inc., Tranche B Term Loan, 4.5%, 6/6/19
|
1,096,679
|
||
|
$ 5,993,941
|
||||
|
Managed Health Care - 0.2%
|
||||
|
446,775(a)
|
MMM Holdings, Inc., MMM Term Loan, 9.75%, 12/12/17
|
$ 347,368
|
||
|
324,804(a)
|
MSO of Puerto Rico, Inc., Term Loan, 9.75%, 12/12/17
|
252,535
|
||
|
$ 599,903
|
||||
|
Total Health Care Equipment & Services
|
$ 38,054,978
|
|||
|
HOUSEHOLD & PERSONAL PRODUCTS - 3.0%
|
||||
|
Household Products - 1.8%
|
||||
|
1,777,778(a)
|
Dollar Tree, Inc., Term B-1 Loan, 3.5%, 7/6/22
|
$ 1,781,474
|
||
|
898,448(a)
|
Spectrum Brands, Inc., USD Term Loan, 5.25%, 6/23/22
|
900,694
|
||
|
1,455,495(a)
|
SRAM LLC, First Lien Term Loan, 5.25%, 4/10/20
|
1,408,192
|
||
|
1,000,000(a)
|
Waddington North America, Inc., Term Loan 2013, 8.5%, 12/7/20
|
1,008,750
|
||
|
74,515(a)
|
Wash MultiFamily Parent, Inc., First Lien Initial Canadian Term Loan, 4.25%, 5/16/22
|
74,235
|
||
|
425,485(a)
|
Wash MultiFamily Parent, Inc., First Lien Initial US Term Loan, 4.25%, 5/16/22
|
423,890
|
||
|
$ 5,597,235
|
||||
|
Personal Products - 0.9%
|
||||
|
2,094,571(a)
|
NBTY, Inc., B-2 Term Loan, 3.5%, 10/1/17
|
$ 2,084,972
|
||
|
800,000(a)
|
Party City Holdings, Inc., Term Loan, 4.25%, 8/19/22
|
800,625
|
||
|
$ 2,885,597
|
||||
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Security & Alarm Services - 0.3%
|
||||
|
1,058,021(a)
|
Monitronics International, Inc., 2013 Term Loan B, 4.25%, 3/23/18
|
$ 1,056,037
|
||
|
Total Household & Personal Products
|
$ 9,538,869
|
|||
|
INSURANCE - 2.6%
|
||||
|
Insurance Brokers - 0.3%
|
||||
|
992,502(a)
|
National Financial Partners Corp., 2014 Specified Refinancing Term Loan, 4.5%, 7/1/20
|
$ 982,267
|
||
|
Multi-Line Insurance - 0.1%
|
||||
|
364,633(a)
|
Alliant Holdings I LLC, Term Loan B, 4.5%, 7/27/22
|
$ 364,314
|
||
|
Property & Casualty Insurance - 2.2%
|
||||
|
2,411,739(a)
|
Confie Seguros Holding II Co., First Lien Term Loan B, 5.75%, 11/9/18
|
$ 2,417,768
|
||
|
500,000(a)
|
Confie Seguros Holding II Co., Second Lien Term Loan, 10.25%, 5/8/19
|
497,500
|
||
|
1,995,000(a)
|
Hyperion Insurance Group, Ltd., Initial Term Loan, 5.5%, 4/29/22
|
2,004,975
|
||
|
1,925,884(a)
|
USI, Inc., Initial Term Loan, 4.25%, 12/27/19
|
1,921,370
|
||
|
$ 6,841,613
|
||||
|
Total Insurance
|
$ 8,188,194
|
|||
|
MATERIALS - 16.1%
|
||||
|
Aluminum - 1.6%
|
||||
|
1,339,988(a)
|
Noranda Aluminum Acquisition Corp., Term Loan B, 5.75%, 2/28/19
|
$ 937,154
|
||
|
2,175,000(a)
|
Novelis, Inc., New Term Loan, 4.0%, 6/2/22
|
2,153,024
|
||
|
1,871,500(a)
|
Turbocombustor Technology, Inc., Initial Term Loan, 5.5%, 12/2/20
|
1,829,391
|
||
|
$ 4,919,569
|
||||
|
Commodity Chemicals - 1.5%
|
||||
|
631,825(a)
|
Axiall Holdco, Inc., Term Loan B, 4.0%, 2/28/22
|
$ 632,089
|
||
|
1,805,479(a)
|
AZ Chem US, Inc., First Lien Initial Term Loan, 5.75%, 6/11/21
|
1,804,210
|
||
|
1,641,750(a)
|
Eco Services Operations LLC, First Lien Term Loan, 4.75%, 12/1/21
|
1,637,646
|
||
|
807,562(a)
|
Tronox Pigments (Netherlands) BV, Closing Date Term Loan, 4.25%, 3/19/20
|
763,045
|
||
|
$ 4,836,990
|
||||
|
Construction Materials - 0.2%
|
||||
|
595,500(a)
|
Penn Engineering & Manufacturing Corp., Incremental Tranche B Term Loan, 4.0%, 8/27/21
|
$ 596,617
|
||
|
Diversified Chemicals - 2.0%
|
||||
|
1,769,793(a)
|
Axalta Coating Systems Dutch Holding B BV & Axalta Coating Systems US Holdings, Inc., Refinanced Term B Loan, 3.75%, 2/1/20
|
$ 1,767,489
|
||
|
1,819,250(a)
|
Nexeo Solutions LLC, Initial Term Loan, 5.0%, 9/8/17
|
1,773,769
|
||
|
694,750(a)
|
Orion Engineered Carbons GmbH (OEC Finance US LLC), Initial Dollar Term Loan, 5.0%, 7/25/21
|
697,355
|
||
|
269,062(a)
|
Oxea Finance & Cy SCA (Oxea Finance LLC), First Lien Tranche B-2 Term Loan, 4.25%, 1/15/20
|
263,232
|
||
|
1,835,000(a)
|
Univar USA, Inc., Initial Dollar Term Loan, 4.25%, 7/1/22
|
1,822,384
|
||
|
$ 6,324,229
|
||||
|
Diversified Metals & Mining - 1.9%
|
||||
|
2,169,563(a)
|
Chemstralia Pty, Ltd. (Chemstralia Finco LLC), Initial Term Loan, 7.25%, 2/28/22
|
$ 2,180,410
|
||
|
2,210,150(a)
|
FMG Resources (August 2006) Pty, Ltd. (FMG America Finance, Inc.), Term Loan, 3.75%, 6/30/19
|
1,794,825
|
||
|
987,500(a)
|
Hi-Crush Partners LP, Advance, 4.75%, 4/28/21
|
938,125
|
||
|
1,008,420(a)
|
US Silica Co., Term Loan, 4.0%, 7/23/20
|
945,394
|
||
|
$ 5,858,754
|
||||
|
Fertilizers & Agricultural Chemicals - 0.5%
|
||||
|
1,750,000(a)
|
Methanol Holdings (Trinidad), Ltd. (Methanol Holdings (Delaware) LLC), Initial Term Loan, 4.25%, 6/30/22
|
$ 1,720,425
|
||
|
Metal & Glass Containers - 1.8%
|
||||
|
1,503,350(a)
|
BWay Intermediate Co., Inc., Initial Term Loan, 5.5%, 8/14/20
|
$ 1,504,289
|
||
|
800,000(a)
|
Prolampac Intermediate, Inc., First Lien Term B Loan, 5.0%, 7/23/22
|
798,000
|
||
|
1,287,735(a)
|
Tank Holding Corp., Initial Term Loan, 6.5%, 3/16/22
|
1,285,321
|
||
|
1,950,000(a)
|
Tekni-Plex, Inc., USD Term Loan, 4.5%, 6/1/22
|
1,948,050
|
||
|
$ 5,535,660
|
||||
|
Paper Packaging - 1.1%
|
||||
|
1,343,250(a)
|
Caraustar Industries, Inc., Incremental Term Loan, 8.0%, 5/1/19
|
$ 1,344,257
|
||
|
161,248(a)
|
Caraustar Industries, Inc., Term Loan, 8.0%, 5/1/19
|
161,369
|
||
|
1,221,938(a)
|
Onex Wizard Acquisition Co. I S.a.r.l. (aka SIG Combibloc Group), Term Loan, 4.25%, 3/11/22
|
1,223,381
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Paper Packaging - (continued)
|
||||
|
820,793(a)
|
Pro Mach Group, Inc., First Lien Dollar Term Loan, 4.75%, 10/22/21
|
$ 824,897
|
||
|
$ 3,553,904
|
||||
|
Paper Products - 2.1%
|
||||
|
1,915,075(a)
|
Appvion, Inc., Term Commitment, 5.75%, 6/28/19
|
$ 1,804,958
|
||
|
481,221(a)
|
Exopack Holdings SA, USD Term Loan, 4.5%, 5/8/19
|
480,318
|
||
|
500,000(a)
|
Ranpak Corp., Second Lien Initial Term Loan, 8.25%, 10/3/22
|
498,125
|
||
|
213,390(a)
|
Ranpak Corp., Tranche B-1 USD Term Loan, 4.25%, 10/1/21
|
212,857
|
||
|
3,456,689(a)
|
Wausau Paper Corp., Term Loan, 6.5%, 7/30/20
|
3,463,129
|
||
|
$ 6,459,387
|
||||
|
Specialty Chemicals - 1.9%
|
||||
|
349,487(a)
|
Chemtura Corp., New Term Loan, 3.5%, 8/29/16
|
$ 349,341
|
||
|
1,786,500(a)
|
Ferro Corp., Term Loan, 4.0%, 7/30/21
|
1,782,034
|
||
|
150,051(a)
|
Huntsman International LLC, 2015 Extended Term B Dollar Loan, 3.242%, 4/19/19
|
149,958
|
||
|
992,405(a)
|
Macdermid, Inc., First Lien Tranche B Term Loan, 4.5%, 6/7/20
|
991,338
|
||
|
597,000(a)
|
Macdermid, Inc., Tranche B-2 Term Loan, 4.75%, 6/7/20
|
597,213
|
||
|
1,950,000(a)
|
PQ Corp., 2014 Term Loan, 4.0%, 8/7/17
|
1,948,781
|
||
|
$ 5,818,665
|
||||
|
Steel - 1.5%
|
||||
|
2,005,556(a)
|
Atkore International, Inc., First Lien Initial Term Loan, 4.5%, 4/9/21
|
$ 1,925,334
|
||
|
1,364,688(a)
|
Essar Steel Algoma, Inc., Initial Term Loan, 7.5%, 8/16/19
|
1,214,572
|
||
|
869,283(a)
|
JMC Steel Group, Inc., Term Loan, 4.75%, 4/1/17
|
864,393
|
||
|
658,963(a)
|
TMS International Corp., Term B Loan, 4.5%, 10/16/20
|
655,943
|
||
|
$ 4,660,242
|
||||
|
Total Materials
|
$ 50,284,442
|
|||
|
MEDIA - 14.8%
|
||||
|
Advertising - 1.5%
|
||||
|
3,073,224(a)
|
Affinion Group, Inc., Tranche B Term Loan, 6.75%, 4/30/18
|
$ 2,916,818
|
||
|
1,998,750(a)
|
Crossmark Holdings, Inc., First Lien Term Loan, 4.5%, 12/20/19
|
1,763,897
|
||
|
$ 4,680,715
|
||||
|
Broadcasting - 4.4%
|
||||
|
414,700(a)
|
CBS Outdoor Americas Capital LLC (CBS Outdoor Americas Capital Corp.), Term Loan, 3.0%, 2/1/21
|
$ 413,447
|
||
|
633,600(a)
|
Checkout Holding Corp., First Lien Term B Loan, 4.5%, 4/9/21
|
551,232
|
||
|
1,000,000(a)
|
Checkout Holding Corp., Second Lien Initial Loan, 7.75%, 4/11/22
|
690,000
|
||
|
296,518(a)
|
Entercom Radio LLC, Term B-2 Loan, 4.0%, 11/23/18
|
296,749
|
||
|
532,752(a)
|
Gray Television, Inc., Initial Term Loan, 3.75%, 6/13/21
|
532,863
|
||
|
912,153(a)
|
Hubbard Radio LLC, Term Loan, 4.25%, 5/27/22
|
910,728
|
||
|
1,701,875(a)
|
MCC Iowa LLC, Tranche G Term Loan, 4.0%, 1/20/20
|
1,704,002
|
||
|
1,881,600(a)
|
MCC Iowa LLC, Tranche H Term Loan, 3.25%, 1/29/21
|
1,865,512
|
||
|
2,109,107(a)
|
NEP/NCP Holdco, Inc., Incremental First Lien Term Loan, 4.25%, 1/22/20
|
2,086,434
|
||
|
729,162(a)
|
Salem Communications Corp., Term Loan, 4.5%, 3/13/20
|
728,935
|
||
|
1,000,000(a)
|
Sinclair Television Group, Inc., Incremental Tranche B-1 Term Loan, 3.5%, 7/30/21
|
995,000
|
||
|
1,018,193(a)
|
Sinclair Television Group, Inc., Tranche B Term Loan, 3.0%, 4/9/20
|
1,006,738
|
||
|
2,156,482(a)
|
Univision Communications, Inc., Replacement First Lien Term Loan, 4.0%, 3/1/20
|
2,145,699
|
||
|
$ 13,927,339
|
||||
|
Cable & Satellite - 4.3%
|
||||
|
2,552,327(a)
|
Cequel Communications LLC, Term Loan, 3.5%, 2/14/19
|
$ 2,543,554
|
||
|
2,004,100(a)
|
Charter Communications Operating LLC, Term F Loan, 3.0%, 1/3/21
|
1,990,144
|
||
|
2,679,750(a)
|
Endemol, Term Loan, 6.75%, 8/13/21
|
2,629,505
|
||
|
247,500(a)
|
Learfield Communications, Inc., First Lien 2014 Replacement Term Loan, 4.5%, 10/9/20
|
247,655
|
||
|
685,000(a)
|
Learfield Communications, Inc., Initial Second Lien Term Loan, 8.75%, 10/8/21
|
684,144
|
||
|
3,397,996(a)
|
Telesat Canada, US Term B-2 Loan, 3.5%, 3/28/19
|
3,387,377
|
||
|
2,027,797(a)
|
WideOpenWest Finance LLC, Replacement Term B Loan, 4.5%, 4/1/19
|
2,027,617
|
||
|
$ 13,509,996
|
||||
|
Movies & Entertainment - 2.1%
|
||||
|
1,160,877(a)
|
AMC Entertainment, Inc., Initial Term Loan, 3.5%, 4/30/20
|
$ 1,160,727
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Movies & Entertainment - (continued)
|
||||
|
500,000(a)
|
CDS US Intermediate Holdings, Inc. (Cirque Du Soleil Canada, Inc.), First Lien Initial Term Loan, 5.0%, 7/8/22
|
$ 501,615
|
||
|
1,000,000(a)
|
CDS US Intermediate Holdings, Inc. (Cirque Du Soleil Canada, Inc.), Second Lien Initial Term Loan, 10.5%, 7/10/23
|
993,333
|
||
|
404,974(a)
|
Cinedigm Digital Funding I LLC, Term Loan, 3.75%, 2/28/18
|
405,480
|
||
|
779,412(a)
|
Kasima LLC, Term Loan, 3.25%, 5/17/21
|
778,112
|
||
|
1,078,000(a)
|
Seminole Hard Rock Entertainment, Inc., Term Loan B, 3.5%, 5/14/20
|
1,071,262
|
||
|
1,677,295(a)
|
WMG Acquisitions Corp., Tranche B Refinancing Term Loan, 3.75%, 7/1/20
|
1,649,829
|
||
|
$ 6,560,358
|
||||
|
Publishing - 2.5%
|
||||
|
1,600,783(a)
|
Cengage Learning Acquisitions, Inc., Term Loan, 7.0%, 3/31/20
|
$ 1,602,951
|
||
|
700,000(a)
|
Houghton Mifflin Holdings, Inc., Term Loan, 4.0%, 5/28/21
|
694,750
|
||
|
531,912(a)
|
Interactive Data Corp., Term Loan, 4.75%, 5/2/21
|
532,378
|
||
|
274,925(a)
|
Lee Enterprises, Inc., First Lien Term Loan, 7.25%, 3/31/19
|
276,300
|
||
|
1,464,010(a)
|
McGraw-Hill Global Education Holdings LLC, Term B Loan Refinancing, 4.75%, 3/22/19
|
1,472,245
|
||
|
1,846,875(a)
|
McGraw-Hill School Education Holdings LLC, Term B Loan, 6.25%, 12/18/19
|
1,852,262
|
||
|
1,396,500(a)
|
Springer SBM Two GmbH, Initial Term B9 Loan, 4.75%, 8/14/20
|
1,394,754
|
||
|
$ 7,825,640
|
||||
|
Total Media
|
$ 46,504,048
|
|||
|
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 3.4%
|
||||
|
Biotechnology - 0.9%
|
||||
|
916,649(a)
|
Alkermes, Inc., 2019 Term Loan, 3.5%, 9/25/19
|
$ 916,266
|
||
|
2,000,000(a)
|
Lantheus Medical Imaging, Inc., Term Loan, 7.0%, 6/30/22
|
1,972,500
|
||
|
$ 2,888,766
|
||||
|
Life Sciences Tools & Services - 0.6%
|
||||
|
2,000,000(a)
|
Albany Molecular Research, Inc., Term Loan B, 5.75%, 7/14/21
|
$ 1,995,000
|
||
|
Pharmaceuticals - 1.9%
|
||||
|
500,000(a)
|
Concordia Healthcare Corp., Initial Term Loan, 4.75%, 4/21/22
|
$ 501,250
|
||
|
312,365(a)
|
Endo Luxembourg Finance Company I S.a r.l., Term Loan B, 3.75%, 6/24/22
|
312,878
|
||
|
1,453,233(a)
|
Par Pharmaceutical, Inc., Term B-2 Loan, 4.0%, 9/30/19
|
1,453,529
|
||
|
1,064,250(a)
|
Patheon, Inc., Term Loan, 4.25%, 3/11/21
|
1,055,603
|
||
|
969,723(a)
|
Pharmedium Healthcare Corp., First Lien Initial Term Loan, 4.25%, 1/28/21
|
962,046
|
||
|
852,793(a)
|
Valeant Pharmaceuticals International, Inc., Series C-2 Tranche B Term Loan, 3.75%, 12/11/19
|
851,661
|
||
|
639,595(a)
|
Valeant Pharmaceuticals International, Inc., Series D-2 Term Loan B, 3.5%, 2/13/19
|
639,195
|
||
|
$ 5,776,162
|
||||
|
Total Pharmaceuticals, Biotechnology & Life Sciences
|
$ 10,659,928
|
|||
|
REAL ESTATE - 2.4%
|
||||
|
Real Estate Services - 1.0%
|
||||
|
2,005,559(a)
|
Altisource Solutions S.a.r.l, Term Loan B, 4.5%, 12/9/20
|
$ 1,794,975
|
||
|
1,414,616(a)
|
GCA Services Group, Inc., First Lien Term Loan, 4.25%, 11/1/19
|
1,410,638
|
||
|
$ 3,205,613
|
||||
|
Retail REIT - 0.8%
|
||||
|
772,280(a)
|
DTZ US Borrower LLC, Delayed Draw Term Loan, 5.5%, 11/4/21
|
$ 767,775
|
||
|
500,000(a)
|
DTZ US Borrower LLC, First Lien Initial Term Loan, 4.25%, 11/4/21
|
496,485
|
||
|
1,000,000(a)
|
DTZ US Borrower LLC, Second Lien Initial Term Loan, 9.25%, 11/4/22
|
1,007,708
|
||
|
$ 2,271,968
|
||||
|
Specialized REITs - 0.6%
|
||||
|
2,000,000(a)
|
Communications Sales & Leasing, Inc. (CSL Capital LLC), Term Loan, 5.0%, 10/24/22
|
$ 1,925,000
|
||
|
Total Real Estate
|
$ 7,402,581
|
|||
|
Principal
Amount
USD ($)
|
Value
|
|||
|
RETAILING - 3.3%
|
||||
|
Apparel Retail - 0.9%
|
||||
|
1,125,000(a)
|
Hudson's Bay Co., Term Loan B, 4.75%, 8/14/22
|
$ 1,128,282
|
||
|
1,000,000(a)
|
JBS USA LLC, Term Loan, 4.0%, 8/18/22
|
998,125
|
||
|
785,227(a)
|
Men's Wearhouse, Inc., Term Loan B, 4.5%, 6/18/21
|
788,049
|
||
|
$ 2,914,456
|
||||
|
Automobiles & Components - 0.5%
|
||||
|
1,530,892(a)
|
CWGS Group LLC, Term Loan, 5.25%, 2/20/20
|
$ 1,538,546
|
||
|
Automotive Retail - 0.3%
|
||||
|
975,000(a)
|
Hertz Corp., Tranche B-1 Term Loan, 3.75%, 3/11/18
|
$ 972,563
|
||
|
Computer & Electronics Retail - 0.5%
|
||||
|
197,500(a)
|
Rent-A-Center, Inc., 2014 Term Loan, 3.75%, 3/19/21
|
$ 197,253
|
||
|
1,557,034(a)
|
Targus Group International, Inc., Term Loan, 14.75%, 5/24/16
|
1,261,197
|
||
|
$ 1,458,450
|
||||
|
Home Improvement Retail - 0.2%
|
||||
|
733,125(a)
|
Apex Tool Group LLC, Term Loan, 4.5%, 1/31/20
|
$ 712,048
|
||
|
Specialty Stores - 0.9%
|
||||
|
1,995,000(a)
|
Petsmart, Inc., Tranche B-1 Loan, 4.25%, 3/11/22
|
$ 1,994,433
|
||
|
750,000(a)
|
Staples, Inc., First Lien Term Loan, 2.75%, 4/23/21
|
748,071
|
||
|
$ 2,742,504
|
||||
|
Total Retailing
|
$ 10,338,567
|
|||
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.2%
|
||||
|
Semiconductor Equipment - 0.4%
|
||||
|
645,927(a)
|
Entegris, Inc., Tranche B Term Loan, 3.5%, 4/30/21
|
$ 642,698
|
||
|
442,765(a)
|
VAT Lux II S.a.r.l., Term Loan, 4.25%, 2/11/21
|
442,765
|
||
|
$ 1,085,463
|
||||
|
Semiconductors - 0.8%
|
||||
|
1,760,387(a)
|
M/A-COM Technology Solutions Holdings, Inc., Initial Term Loan, 4.5%, 5/7/21
|
$ 1,760,387
|
||
|
823,871(a)
|
Microsemi Corp., Term Loan, 3.25%, 2/19/20
|
820,781
|
||
|
$ 2,581,168
|
||||
|
Total Semiconductors & Semiconductor Equipment
|
$ 3,666,631
|
|||
|
SOFTWARE & SERVICES - 10.8%
|
||||
|
Application Software - 4.6%
|
||||
|
993,574(a)
|
Applied Systems, Inc., First Lien Term Loan, 4.25%, 1/25/21
|
$ 992,332
|
||
|
988,007(a)
|
Applied Systems, Inc., Second Lien Term Loan, 7.5%, 1/24/22
|
986,524
|
||
|
238,505(a)
|
DealerTrack Technologies, Inc., Term Loan, 3.5%, 2/28/21
|
238,055
|
||
|
980,745(a)
|
Epiq Systems, Inc., Term Loan, 4.5%, 8/27/20
|
978,293
|
||
|
1,125,183(a)
|
Expert Global Solutions, Inc., Advance First Lien Term Loan B, 9.5%, 4/3/18
|
1,127,059
|
||
|
1,047,698(a)
|
Infor (US), Inc., Tranche B-5 Term Loan, 3.75%, 6/3/20
|
1,019,733
|
||
|
307,942(a)
|
Informatica Corp., First Lien Term B Loan, 4.5%, 5/20/22
|
306,556
|
||
|
1,515,097(a)
|
Nuance Communications, Inc., Term Loan C, 2.95%, 8/7/19
|
1,505,627
|
||
|
1,938,295(a)
|
Serena Software, Inc., Term Loan, 7.5%, 4/14/20
|
1,945,967
|
||
|
1,056,648(a)
|
STG-Fairway Acquisitions, Inc., First Lien Term Loan, 6.25%, 6/30/22
|
1,055,327
|
||
|
1,411,935(a)
|
Verint Systems, Inc., Tranche B Incremental Term Loan, 3.5%, 9/6/19
|
1,411,582
|
||
|
1,000,000(a)
|
Vertafore, Inc., Second Lien Term Loan, 9.75%, 10/27/17
|
1,012,500
|
||
|
1,845,991(a)
|
Vertafore, Inc., Term Loan, 4.25%, 10/3/19
|
1,846,183
|
||
|
$ 14,425,738
|
||||
|
Data Processing & Outsourced Services - 0.7%
|
||||
|
1,000,000(a)
|
First Data Corp., 2018 B Second New Term Loan, 3.7%, 9/24/18
|
$ 995,000
|
||
|
1,187,493(a)
|
First Data Corp., 2018 Dollar Term Loan, 3.7%, 3/23/18
|
1,182,390
|
||
|
$ 2,177,390
|
||||
|
Home Entertainment Software - 0.4%
|
||||
|
1,262,589(a)
|
MA Financeco LLC, Initial Tranche B Term Loan, 5.25%, 11/19/21
|
$ 1,266,422
|
||
|
Internet Software & Services - 0.7%
|
||||
|
1,525,634(a)
|
Vocus Valor Companies, Inc., First Lien Initial Term Loan, 6.0%, 5/30/21
|
$ 1,518,643
|
||
|
493,679(a)
|
Zayo Group LLC (Zayo Capital, Inc.), Term Loan, 3.75%, 5/6/21
|
491,797
|
||
|
$ 2,010,440
|
||||
|
IT Consulting & Other Services - 3.2%
|
||||
|
1,641,341(a)
|
Booz Allen Hamilton, Inc., Initial Tranche B Term Loan, 3.75%, 7/31/19
|
$ 1,646,471
|
||
|
3,465,000(a)
|
Evergreen Skills Lux S.a.r.l., First Lien Initial Term Loan, 5.75%, 4/28/21
|
3,328,566
|
||
|
1,000,000(a)
|
Evergreen Skills Lux S.a.r.l., Second Lien Initial Term Loan, 9.25%, 4/28/22
|
891,667
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
IT Consulting & Other Services - (continued)
|
||||
|
485,637(a)
|
Kronos, Inc., First Lien Incremental Term Loan, 4.5%, 10/30/19
|
$ 486,668
|
||
|
698,250(a)
|
Science Applications International Corp., Incremental Tranche B Loan, 3.75%, 5/4/22
|
701,305
|
||
|
1,375,000(a)
|
Sitel Worldwide Corp., First Lien Term B-1 Loan, 6.5%, 8/20/21
|
1,365,547
|
||
|
1,687,991(a)
|
SunGuard Data Systems, Inc., Tranche C Term Loan, 3.941%, 2/28/17
|
1,689,881
|
||
|
$ 10,110,105
|
||||
|
Systems Software - 1.2%
|
||||
|
1,243,750(a)
|
AVG Technologies NV (AVG Corporate Services BV), Term Loan, 5.75%, 10/15/20
|
$ 1,251,523
|
||
|
1,262,250(a)
|
MSC.Software Corp., Term Loan, 5.0%, 5/29/20
|
1,246,472
|
||
|
1,257,760(a)
|
Rovi Solutions Corp., Term B Loan, 3.75%, 7/2/21
|
1,222,124
|
||
|
$ 3,720,119
|
||||
|
Total Software & Services
|
$ 33,710,214
|
|||
|
TECHNOLOGY HARDWARE & EQUIPMENT - 3.5%
|
||||
|
Communications Equipment - 0.4%
|
||||
|
686,313(a)
|
Audio Visual Services Group, Inc., First Lien Term Loan, 4.5%, 1/25/21
|
$ 684,597
|
||
|
500,000(a)
|
Commscope, Inc., Incremental Term Loan B, 3.75%, 12/29/22
|
499,371
|
||
|
$ 1,183,968
|
||||
|
Electronic Components - 1.4%
|
||||
|
1,041,450(a)
|
Generac Power Systems, Inc., Term Loan, 3.25%, 5/31/20
|
$ 1,023,225
|
||
|
1,221,938(a)
|
Mirion Technologies (Finance) LLC (Mirion Technologies, Inc.), First Lien Initial Term Loan, 5.75%, 3/31/22
|
1,226,010
|
||
|
1,843,423(a)
|
Securus Technologies Holdings, Inc., Initial First Lien Term Loan, 4.75%, 4/30/20
|
1,780,055
|
||
|
500,000(a)
|
Securus Technologies Holdings, Inc., Term Loan B2, 5.25%, 4/30/20
|
487,500
|
||
|
$ 4,516,790
|
||||
|
Electronic Equipment & Instruments - 0.2%
|
||||
|
483,310(a)
|
Sensus USA, Inc., Term Loan, 4.5%, 5/9/17
|
$ 482,404
|
||
|
Electronic Manufacturing Services - 0.6%
|
||||
|
1,925,450(a)
|
4L Technologies, Inc. (fka Clover Holdings, Inc.), Term Loan, 5.5%, 5/8/20
|
$ 1,896,568
|
||
|
Technology Distributors - 0.9%
|
||||
|
1,411,121(a)
|
Deltek, Inc., First Lien Term Loan, 5.0%, 6/25/22
|
$ 1,412,885
|
||
|
197,668(a)
|
SS&C European Holdings S.a.r.l., Term B-2 Loan, 4.0%, 7/8/22
|
198,321
|
||
|
1,220,090(a)
|
SS&C Technologies, Inc., Term B-1 Loan, 4.0%, 7/8/22
|
1,224,121
|
||
|
$ 2,835,327
|
||||
|
Total Technology Hardware & Equipment
|
$ 10,915,057
|
|||
|
TELECOMMUNICATION SERVICES - 2.6%
|
||||
|
Integrated Telecommunication Services - 1.5%
|
||||
|
1,246,875(a)
|
GCI Holdings, Inc., New Term B Loan, 4.0%, 2/2/22
|
$ 1,253,110
|
||
|
1,000,000(a)
|
Level 3 Financing, Inc., Tranche B 2022 Term Loan, 3.5%, 5/31/22
|
993,281
|
||
|
1,117,713(a)
|
Virgin Media Investment Holdings, Ltd., Facility F, 3.5%, 6/30/23
|
1,107,733
|
||
|
1,406,212(a)
|
West Corp., Term B-10 Loan, 3.25%, 6/30/18
|
1,394,896
|
||
|
$ 4,749,020
|
||||
|
Wireless Telecommunication Services - 1.1%
|
||||
|
300,000(a)
|
Altice Financing SA, Dollar Denominated Tranche Loan, 5.25%, 2/4/22
|
$ 303,000
|
||
|
1,423,960(a)
|
Crown Castle Operating Co., Extended Incremental Tranche B-2 Term Loan, 3.0%, 1/31/21
|
1,421,388
|
||
|
1,895,657(a)
|
Syniverse Holdings, Inc., Initial Term Loan, 4.0%, 4/23/19
|
1,767,700
|
||
|
$ 3,492,088
|
||||
|
Total Telecommunication Services
|
$ 8,241,108
|
|||
|
TRANSPORTATION - 5.6%
|
||||
|
Air Freight & Logistics - 0.9%
|
||||
|
1,726,016(a)
|
Dematic Corp., New Incremental Term Loan, 4.25%, 12/28/19
|
$ 1,725,295
|
||
|
1,043,700(a)
|
Ozburn-Hessey Holding Co., LLC, Term Loan, 7.75%, 5/23/19
|
1,039,134
|
||
|
$ 2,764,429
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
Airlines - 2.6%
|
||||
|
2,947,500(a)
|
American Airlines, Inc., 2015 New Term Loan, 3.25%, 6/27/20
|
$ 2,925,656
|
||
|
244,375(a)
|
Continental Airlines, Inc. (United Air Lines, Inc.), Class B Term Loan, 3.25%, 4/1/19
|
244,146
|
||
|
1,462,500(a)
|
Delta Air Lines, Inc., 2014 Term B-1 Loan, 3.25%, 10/18/18
|
1,461,586
|
||
|
1,267,875(a)
|
US Airways, Inc., Tranche B-1 Term Loan, 3.5%, 5/23/19
|
1,264,045
|
||
|
2,113,125(a)
|
US Airways, Inc., Tranche B-2 Term Loan, 3.0%, 11/23/16
|
2,110,264
|
||
|
$ 8,005,697
|
||||
|
Marine - 0.9%
|
||||
|
1,726,224(a)
|
Commercial Barge Line Co., Initial First Lien Term Loan, 7.5%, 9/22/19
|
$ 1,726,224
|
||
|
1,199,013(a)
|
Navios Maritime Partners LP, Term Loan, 5.25%, 6/27/18
|
1,201,511
|
||
|
$ 2,927,735
|
||||
|
Trucking - 1.2%
|
||||
|
990,000(a)
|
Aegis Toxicology Sciences Corp., Initial First Lien Term Loan, 5.5%, 2/24/21
|
$ 955,350
|
||
|
408,975(a)
|
PODS LLC, Initial First Lien Term Loan, 4.5%, 2/2/22
|
409,997
|
||
|
788,000(a)
|
Syncreon Global Finance, Inc., Term Loan, 5.25%, 10/28/20
|
645,504
|
||
|
1,637,718(a)
|
YRC Worldwide, Inc., Initial Term Loan, 8.25%, 2/13/19
|
1,589,406
|
||
|
$ 3,600,257
|
||||
|
Total Transportation
|
$ 17,298,118
|
|||
|
UTILITIES - 4.4%
|
||||
|
Electric Utilities - 2.7%
|
||||
|
1,077,365(a)
|
Atlantic Power Limited Partnership, Term Loan, 4.75%, 2/24/21
|
$ 1,077,365
|
||
|
2,205,000(a)
|
Calpine Construction Finance Co., LP, Term B-1 Loan, 3.0%, 5/3/20
|
2,166,413
|
||
|
803,212(a)
|
ExGen Renewables LLC, Term Loan, 5.25%, 2/6/21
|
810,240
|
||
|
500,000(a)
|
Longview Power LLC, Term B Advance, 7.0%, 4/13/21
|
503,125
|
||
|
995,000(a)
|
Southeast PowerGen LLC, Term Loan B, 4.5%, 12/2/21
|
1,003,706
|
||
|
1,110,839(a)
|
Star West Generation LLC, Advance Term Loan B, 4.25%, 3/13/20
|
1,110,839
|
||
|
1,957,390(a)
|
Terra-Gen Finance Co., LLC, Term Loan B, 5.25%, 12/9/21
|
1,937,816
|
||
|
$ 8,609,504
|
||||
|
Independent Power Producers & Energy Traders - 1.4%
|
||||
|
486,250(a)
|
Calpine Corp., Term Loan, 4.0%, 10/9/19
|
$ 486,723
|
||
|
1,660,000(a)
|
Calpine Corp., Term Loan B, 3.5%, 5/27/22
|
1,644,437
|
||
|
1,055,385(a)
|
Dynegy, Inc., Tranche B-2 Term Loan, 4.0%, 4/23/20
|
1,054,725
|
||
|
1,216,939(a)
|
NRG Energy, Inc., 2013 Term Loan, 2.75%, 7/1/18
|
1,201,156
|
||
|
$ 4,387,041
|
||||
|
Water Utilities - 0.3%
|
||||
|
853,667(a)
|
WTG Holdings III Corp., First Lien Term Loan, 4.75%, 1/15/21
|
$ 851,533
|
||
|
Total Utilities
|
$ 13,848,078
|
|||
|
TOTAL SENIOR SECURED FLOATING RATE LOAN INTERESTS
|
||||
|
(Cost $449,301,972)
|
$ 438,671,229
|
|||
|
COLLATERALIZED LOAN OBLIGATIONS - 2.5% of Net Assets
|
||||
|
BANKS - 2.5%
|
||||
|
Diversified Banks - 0.6%
|
||||
|
1,000,000(a)
|
Primus, Ltd., Series 2007-2A, Class D, 2.689% , 7/15/21 (144A)
|
$ 949,885
|
||
|
951,289(a)
|
Stanfield McLaren, Ltd., Series 2007-1A, Class B2L, 4.827% , 2/27/21 (144A)
|
902,029
|
||
|
$ 1,851,914
|
||||
|
Thrifts & Mortgage Finance - 1.9%
|
||||
|
1,000,000(a)
|
ACA, Ltd., Series 2007-1A, Class D, 2.639%, 6/15/22 (144A)
|
$ 942,135
|
||
|
1,000,000(a)
|
Goldman Sachs Asset Management Plc, Series 2007-1A, Class D, 3.05%, 8/1/22 (144A)
|
1,001,331
|
||
|
1,000,000(a)
|
Gulf Stream - Sextant, Ltd., Series 2007-1A, Class D, 2.683%, 6/17/21 (144A)
|
988,049
|
||
|
1,000,000(a)
|
Landmark CDO, Ltd., Series 2007-9A, Class E, 3.789%, 4/15/21 (144A)
|
934,380
|
||
|
2,000,000(a)
|
Stone Tower, Ltd., Series 2007-6A, Class C, 1.639%, 4/17/21 (144A)
|
1,933,808
|
||
|
$ 5,799,703
|
||||
|
Total Banks
|
$ 7,651,617
|
|||
|
TOTAL COLLATERALIZED LOAN OBLIGATIONS
|
||||
|
(Cost $7,038,585)
|
$ 7,651,617
|
|
Principal
Amount
USD ($)
|
Value
|
|||
|
CORPORATE BONDS & NOTES - 1.8% of Net Assets
|
||||
|
CAPITAL GOODS - 0.3%
|
||||
|
Trading Companies & Distributors - 0.3%
|
||||
|
900,000
|
United Rentals North America, Inc., 4.625%, 7/15/23
|
$ 885,375
|
||
|
Total Capital Goods
|
$ 885,375
|
|||
|
DIVERSIFIED FINANCIALS - 0.1%
|
||||
|
Other Diversified Financial Services - 0.1%
|
||||
|
500,000(a)
|
Vita Capital V, Ltd., 2.863%, 1/15/17 (144A)
|
$ 506,500
|
||
|
Total Diversified Financials
|
$ 506,500
|
|||
|
ENERGY - 0.4%
|
||||
|
Oil & Gas Drilling - 0.0%†
|
||||
|
250,000
|
Offshore Group Investment, Ltd., 7.5%, 11/1/19
|
$ 116,250
|
||
|
Oil & Gas Equipment & Services - 0.2%
|
||||
|
720,000(a)
|
FTS International, Inc., 7.783%, 6/15/20 (144A)
|
$ 543,510
|
||
|
Oil & Gas Exploration & Production - 0.2%
|
||||
|
625,000
|
WPX Energy, Inc., 7.5%, 8/1/20
|
$ 600,238
|
||
|
Total Energy
|
$ 1,259,998
|
|||
|
INSURANCE - 0.8%
|
||||
|
Reinsurance - 0.8%
|
||||
|
250,000(a)
|
Atlas Reinsurance VII, Ltd., 8.154%, 1/7/16 (144A) (Cat Bond)
|
$ 250,850
|
||
|
250,000(a)
|
Compass Re II, Ltd., 0.046%, 12/8/15 (144A) (Cat Bond)
|
242,550
|
||
|
250,000(a)
|
East Lane Re V, Ltd., 9.046%, 3/16/16 (144A) (Cat Bond)
|
256,575
|
||
|
548,100(e)
|
Exeter Segregated Account (Kane SAC, Ltd.), Variable Rate Notes, 1/7/16
|
570,682
|
||
|
266,800(e)
|
Muirfield Segregated Account (Kane SAC, Ltd.), Variable Rate Notes, 1/12/16
|
281,927
|
||
|
250,000(a)
|
Mythen Re, Ltd. Series 2012-2, Class A, 8.646%, 1/5/17 (144A) (Cat Bond)
|
255,175
|
||
|
250,000(a)
|
Queen Street VII Re, Ltd., 8.646%, 4/8/16 (144A) (Cat Bond)
|
251,275
|
||
|
275,300(e)
|
Troon Segregated Account (Kane SAC Ltd.), Variable Rate Notes, 1/12/16
|
286,560
|
||
|
$ 2,395,594
|
||||
|
Total Insurance
|
$ 2,395,594
|
|||
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
|
||||
|
Semiconductors - 0.2%
|
||||
|
750,000
|
Micron Technology, Inc., 5.25%, 8/1/23 (144A)
|
$ 699,375
|
||
|
Total Semiconductors & Semiconductor Equipment
|
$ 699,375
|
|||
|
TOTAL CORPORATE BONDS & NOTES
|
||||
|
(Cost $6,056,900)
|
$ 5,746,842
|
|||
|
US GOVERNMENT AND AGENCY OBLIGATIONS - 0.9% of Net Assets
|
||||
|
1,405,000(a)
|
US Treasury Notes, 0.095%, 1/31/16
|
$ 1,405,237
|
||
|
1,405,000(a)
|
US Treasury Notes, 0.12%, 7/31/16
|
1,405,700
|
||
|
$ 2,810,937
|
||||
|
TOTAL US GOVERNMENT AND AGENCY OBLIGATIONS
|
||||
|
(Cost $2,810,697)
|
$ 2,810,937
|
|||
|
Shares
|
||||
|
EXCHANGE-TRADED FUND - 0.3% of Net Assets
|
||||
|
DIVERSIFIED FINANCIALS - 0.3%
|
||||
|
Other Diversified Financial Services - 0.3%
|
||||
|
42,000
|
PowerShares Senior Loan Portfolio
|
$ 981,960
|
||
|
Total Diversified Financials
|
$ 981,960
|
|||
|
TOTAL EXCHANGE-TRADED FUND
|
||||
|
(Cost $1,009,260)
|
$ 981,960
|
|||
|
COMMON STOCKS - 0.3% of Net Assets
|
||||
|
INDUSTRIALS - 0.0%†
|
||||
|
Diversified Support Services - 0.0%†
|
||||
|
31(f)
|
IAP Worldwide Services, Inc.
|
$ 25,194
|
||
|
Total Industrials
|
$ 25,194
|
|||
|
MEDIA - 0.1%
|
||||
|
Publishing - 0.1%
|
||||
|
14,548(f)
|
Cengage Learning Acquisitions, Inc.
|
$ 388,250
|
||
|
Total Media
|
$ 388,250
|
|||
|
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%†
|
||||
|
Biotechnology - 0.0%†
|
||||
|
2,454(f)
|
Progenics Pharmaceuticals, Inc.
|
$ 17,988
|
||
|
Total Pharmaceuticals, Biotechnology & Life Sciences
|
$ 17,988
|
|||
|
Shares
|
Value
|
|||
|
TRANSPORTATION - 0.2%
|
||||
|
Air Freight & Logistics - 0.2%
|
||||
|
710(f)
|
CEVA Holdings LLC
|
$ 461,363
|
||
|
Total Transportation
|
$ 461,363
|
|||
|
UTILITIES - 0.0%†
|
||||
|
Independent Power Producers & Energy Traders - 0.0%†
|
||||
|
775
|
NRG Energy, Inc.
|
$ 15,438
|
||
|
Total Utilities
|
$ 15,438
|
|||
|
TOTAL COMMON STOCKS
|
||||
|
(Cost $1,298,131)
|
$ 908,233
|
|||
|
Principal
Amount
USD ($)
|
||||
|
ASSET BACKED SECURITY - 0.0%† of Net Assets
|
||||
|
CONSUMER SERVICES - 0.0%†
|
||||
|
Hotels, Resorts & Cruise Lines - 0.0%†
|
||||
|
39,896
|
Westgate Resorts LLC, Series 2012-2A, Class C, 9.0%, 1/20/25 (144A)
|
$ 40,146
|
||
|
Total Consumer Services
|
$ 40,146
|
|||
|
TOTAL ASSET BACKED SECURITY
|
||||
|
(Cost $39,896)
|
$ 40,146
|
|||
|
TEMPORARY CASH INVESTMENTS - 1.9% of Net Assets
|
||||
|
COMMERCIAL PAPER - 1.5%
|
||||
|
1,175,000
|
Barclays Bank Plc, 0.13%, 9/1/15
|
$ 1,174,993
|
||
|
1,175,000
|
BNP Paribas SA, 0.05%, 9/1/15
|
1,174,997
|
||
|
240,000
|
Mondelez International, 0.26%, 9/1/15
|
239,998
|
||
|
1,020,000
|
Prudential Funding LLC, 0.07%, 9/1/15
|
1,019,997
|
||
|
1,175,000
|
Societe Generale, 0.06%, 9/1/15
|
1,175,000
|
||
|
$ 4,784,985
|
||||
|
REPURCHASE AGREEMENT - 0.4%
|
||||
|
1,380,000
|
Bank of Nova Scotia, 0.15%, dated 9/1/15, repurchase price of $1,380,000 plus accrued interest on 9/1/15 collateralized by: $108,604 Freddie Mac Giant, 3.0% - 4.0%, 3/1/30 - 10/1/44, $171,675 Federal National Mortgage Association (ARM), 3.352%, 4/1/41, $860,690 Federal National Mortgage Association, 2.5% - 4.5%, 11/1/27 - 7/1/45 and $266,637 Government National Mortgage Association (ARM), 3.5% - 4.0%, 11/20/43 - 2/20/45
|
$ 1,380,000
|
||
|
TOTAL TEMPORARY CASH INVESTMENTS
|
||||
|
(Cost $6,165,000)
|
$ 6,164,985
|
|||
|
TOTAL INVESTMENTS IN SECURITIES - 147.8%
|
||||
|
(Cost - $473,720,441) (g)
|
$ 462,975,949
|
|||
|
OTHER ASSETS AND LIABILITIES - (47.8)%
|
$ (149,782,367)
|
|||
|
NET ASSETS APPLICABLE TO
COMMON SHAREOWNERS - 100.0%
|
$ 313,193,582
|
|
†
|
Amount rounds to less than 0.1%.
|
|
REIT
|
Real Estate Investment Trust.
|
|
(144A)
|
Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At August 31, 2015, the value of these securities amounted to $10,697,573, or 3.4% of total net assets applicable to common shareowners.
|
|
(Cat Bond)
|
Catastrophe or Event Linked Bond. At August 31, 2015, the value of these securities amounted to $1,256,425 or 0.4% of total net assets applicable to common shareowners.
|
|
*
|
Senior secured floating rate loan interests in which the Trust invests generally pay interest at rates that are periodically redetermined by reference to a base lending plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR (London InterBank Offered Rate), (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders. The interest rate shown is the rate accruing at August 31, 2015.
|
|
(a)
|
Floating rate note. The rate shown is the coupon rate at August 31, 2015.
|
|
(b)
|
Security is in default and is non income producing.
|
|
(c)
|
The company and agent bank are in the process of negotiating forbearance.
|
|
(d)
|
Payment in Kind (PIK) security which may pay interest in the form of additional principal amount.
|
|
(e)
|
Structured reinsurance investment. At August 31, 2015, value of these securities amounted to $1,139,169 or 0.4% of total assets applicable to common shareowners.
|
|
(f)
|
Non-income producing.
|
|
(g)
|
At August 31, 2015, the net unrealized depreciation on investments based on cost for federal tax purposes of $473,652,066 was as follows:
|
||
|
Aggregate gross unrealized appreciation for all investments in which there
|
|||
|
is an excess of value over tax cost
|
$ 3,358,184
|
||
|
Aggregate gross unrealized depreciation for all investments in which there
|
|||
|
is an excess of tax cost over value
|
(14,034,301)
|
||
|
Net unrealized depreciation
|
$ (10,676,117)
|
||
|
For financial reporting purposes net unrealized depreciation on investments was $10,744,492 and cost of investments aggregated $473,720,441.
|
|
Principal amounts are denominated in US dollars unless otherwise noted.
|
|
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS - BUY PROTECTION
|
||||||||
|
Net
|
||||||||
|
Notional
|
Obligation
|
Credit
|
Expiration
|
Premiums
|
Unrealized
|
|||
|
Principal ($)(1)
|
Counterparty
|
Entity/Index
|
Coupon
|
Rating (2)
|
Date
|
Paid
|
Depreciation
|
|
|
1,089,000
|
Chicago Mercantile
|
Markit CDX North America High Yield Index Series 24
|
5.00%
|
BB–
|
6/20/20
|
$ 65,554
|
$ (6,021)
|
|
|
(1)
|
The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event.
|
|
Various inputs are used in determining the value of the Trust's investments. These inputs are summarized in the three broad levels below.
|
|
Level 1 - quoted prices in active markets for identical securities.
|
|
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment
|
|
speeds, credit risks, etc.).
|
|
Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining fair value of investments).
|
|
Generally, equity securities are categorized as Level 1, fixed income securities and senior loans are categorized as Level 2, and securities valued using fair value methods (other than prices supplied by independent pricing services or broker-dealers) as Level 3.
|
|
The following is a summary of the inputs used as of August 31, 2015, in valuing the Trust's investments.
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
|
Senior Secured Floating Rate
Loan Interests
|
$ | – | $ | 438,671,229 | $ | – | $ | 438,671,229 | ||||||||
|
Collateralized Loan Obligations
|
– | 7,651,617 | – | 7,651,617 | ||||||||||||
|
Corporate Bonds & Notes
|
||||||||||||||||
|
Insurance
|
||||||||||||||||
|
Reinsurance
|
– | 1,256,425 | 1,139,169 | 2,395,594 | ||||||||||||
|
All Other Corporate Bonds & Notes
|
– | 3,351,248 | – | 3,351,248 | ||||||||||||
|
US Government and Agency Obligations
|
– | 2,810,937 | – | 2,810,937 | ||||||||||||
|
Exchange-Traded Fund
|
981,960 | – | – | 981,960 | ||||||||||||
|
Common Stocks
|
||||||||||||||||
|
Industrials
|
||||||||||||||||
|
Diversified Support Services
|
– | 25,194 | – | 25,194 | ||||||||||||
|
Media
|
||||||||||||||||
|
Publishing
|
– | 388,250 | – | 388,250 | ||||||||||||
|
Transportation
|
||||||||||||||||
|
Air Freight & Logistics
|
– | 461,363 | – | 461,363 | ||||||||||||
|
All Other Common Stocks
|
33,426 | – | – | 33,426 | ||||||||||||
|
Asset Backed Security
|
– | 40,146 | – | 40,146 | ||||||||||||
|
Repurchase Agreement
|
– | 1,380,000 | – | 1,380,000 | ||||||||||||
|
Commercial Paper
|
– | 4,784,985 | – | 4,784,985 | ||||||||||||
|
Total Investments in Securities
|
$ | 1,015,386 | $ | 460,821,394 | $ | 1,139,169 | $ | 462,975,949 | ||||||||
|
Other Financial Instruments
|
||||||||||||||||
|
Liabilities:
|
||||||||||||||||
|
Unrealized depreciation on swap contracts
|
$ | – | $ | (6,021 | ) | $ | – | $ | (6,021 | ) | ||||||
|
Total Other Financial Instruments
|
$ | – | $ | (6,021 | ) | $ | – | $ | (6,021 | ) | ||||||
|
The following is a summary of the fair valuation of certain of the Trust's assets and liabilities as of August 31, 2015:
|
||||||||||||||||
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
|
Assets:
|
||||||||||||||||
|
Foreign currencies, at value
|
$ | – | $ | 65,536 | $ | – | $ | 65,536 | ||||||||
|
Liabilities:
|
– | – | ||||||||||||||
|
Outstanding borrowings
|
– | (154,450,000 | ) | – | (154,450,000 | ) | ||||||||||
|
Total
|
$ | – | $ | (154,384,464 | ) | $ | – | $ | (154,384,464 | ) | ||||||
|
The following is a reconciliation of assets valued using significant unobservable inputs (Level 3):
|
||||||||||||||||||||||||||||||||||||
|
Change in
|
||||||||||||||||||||||||||||||||||||
|
Balance
|
Realized
|
unrealized
|
Accrued
|
Transfers
|
Transfers
|
Balance
|
||||||||||||||||||||||||||||||
|
as of
|
gain
|
appreciation
|
discounts/
|
in to
|
out of
|
as of
|
||||||||||||||||||||||||||||||
|
11/30/14
|
(loss)
|
(depreciation)
|
Purchases
|
Sales
|
premiums
|
Level 3*
|
Level 3*
|
8/31/15
|
||||||||||||||||||||||||||||
|
Corporate Bonds
& Notes
|
||||||||||||||||||||||||||||||||||||
|
Insurance
|
||||||||||||||||||||||||||||||||||||
|
Reinsurance
|
$ | – | $ | – | $ | 48,969 | $ | 1,090,200 | $ | – | $ | – | $ | – | $ | – | $ | 1,139,169 | ||||||||||||||||||
|
Total
|
$ | – | $ | – | $ | 48,969 | $ | 1,090,200 | $ | – | $ | – | $ | – | $ | – | $ | 1,139,169 | ||||||||||||||||||
|
*Transfers are calculated on the beginning of period value. For the nine months ended August 31, 2015, there were no transfers between Levels 1, 2, and 3.
|
||||||||||||||||||||||||||||||||||||
|
Net change in unrealized appreciation of Level 3 investments still held and considered Level 3 at August 31, 2015: $48,969.
|
||||||||||||||||||||||||||||||||||||
ITEM 2. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant's principal executive
and principal financial officers, or persons performing similar functions,
regarding the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR
270.30a-3(c))) as of a date within 90 days of the filing date of the report
that includes the disclosure required by this paragraph, based on the
evaluation of these controls and procedures required by Rule 30a-3(b)
under the Act (17 CFR 270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b)
under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The registrant's principal executive officer and principal financial officer
have concluded that the registrant's disclosure controls and procedures are
effective based on their evaluation of these controls and procedures as of
a date within 90 days of the filing date of this report.
(b) Disclose any change in the registrant's internal controls over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))
that occurred during the registrant's last fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting.
There were no significant changes in the registrant's internal control over
financial reporting that occurred during the second fiscal quarter of the
period covered by this report that have materially affected, or are
reasonably likely to materially affect, the registrant's internal control
over financial reporting.
ITEM 3. EXHIBITS.
File as exhibits as part of this Form a separate certification for each principal
executive officer and principal financial officer of the registrant as required
by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below:
CERTIFICATIONS
I, [identify the certifying individual], certify that:
1. I have reviewed this report on Form N-Q of [identify registrant];
2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over
financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act
of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report, based on such evaluation; and
(d) Disclosed in this report any change in the registrants internal control
over financial reporting that occurred during the registrants most recent
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrants internal control over financial reporting;
and
5. The registrants other certifying officer(s) and I have disclosed to the
registrants auditors and the audit committee of the registrants board of
directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely
affect the registrants ability to record, process, summarize, and report financial
information; and
(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrants internal control over financial
reporting.
Date: [Signature] [Title]
Filed herewith.
<PAGE>
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Pioneer Floating Rate Trust
By (Signature and Title)* /s/ Lisa M.Jones
-----------------------
Lisa M.Jones, President and Chief Executive Officer
Date October 29, 2015
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Lisa M.Jones
-----------------------
Lisa M.Jones, President and Chief Executive Officer
Date October 29, 2015
By (Signature and Title)* /s/ Mark E. Bradley
-----------------
Mark E. Bradley, Treasurer and Chief Accounting
and Financial Officer
Date October 29, 2015
* Print the name and title of each signing officer under his or her signature.