UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: | 811-08915 | |
Exact name of registrant as specified in charter: | Prudential Investment Portfolios 16 | |
Address of principal executive offices: | 655 Broad Street, 17th Floor, | |
Newark, New Jersey 07102 | ||
Name and address of agent for service: | Deborah A. Docs | |
655 Broad Street, 17th Floor, | ||
Newark, New Jersey 07102 | ||
Registrants telephone number, including area code: | 800-225-1852 | |
Date of fiscal year end: | 10/31/2015 | |
Date of reporting period: | 7/31/2015 |
Item 1. Schedule of Investments
Prudential Income Builder Fund
Schedule of Investments
as of July 31, 2015 (Unaudited)
Shares | Value | |||||||||||||
LONG-TERM INVESTMENTS 96.4% |
||||||||||||||
COMMON STOCKS 35.0% |
||||||||||||||
Aerospace & Defense 0.3% |
||||||||||||||
Boeing Co. (The) |
6,528 | $ | 941,142 | |||||||||||
|
|
|||||||||||||
Airlines 0.1% |
||||||||||||||
United Continental Holdings, Inc.(a) |
4,465 | 251,781 | ||||||||||||
|
|
|||||||||||||
Banks 1.1% |
||||||||||||||
Bank of America Corp. |
38,031 | 679,994 | ||||||||||||
JPMorgan Chase & Co. |
17,172 | 1,176,797 | ||||||||||||
Wells Fargo & Co. |
21,903 | 1,267,527 | ||||||||||||
|
|
|||||||||||||
3,124,318 | ||||||||||||||
|
|
|||||||||||||
Beverages 0.8% |
||||||||||||||
Britvic PLC (United Kingdom) |
76,849 | 822,341 | ||||||||||||
Britvic PLC (United Kingdom), 144A(b) |
8,008 | 85,691 | ||||||||||||
Coca-Cola Co. (The) |
11,435 | 469,750 | ||||||||||||
Coca-Cola Enterprises, Inc. |
14,179 | 724,263 | ||||||||||||
|
|
|||||||||||||
2,102,045 | ||||||||||||||
|
|
|||||||||||||
Biotechnology 0.3% |
||||||||||||||
Celgene Corp.(a) |
5,935 | 778,969 | ||||||||||||
|
|
|||||||||||||
Chemicals 0.4% |
||||||||||||||
Air Products & Chemicals, Inc. |
2,871 | 409,146 | ||||||||||||
Potash Corp. of Saskatchewan, Inc. (Canada) |
21,034 | 571,704 | ||||||||||||
|
|
|||||||||||||
980,850 | ||||||||||||||
|
|
|||||||||||||
Commercial Services & Supplies 0.1% |
||||||||||||||
Spotless Group Holdings Ltd. (Australia) |
219,790 | 313,711 | ||||||||||||
Spotless Group Holdings Ltd. (Australia), 144A(b) |
51,751 | 73,865 | ||||||||||||
|
|
|||||||||||||
387,576 | ||||||||||||||
|
|
|||||||||||||
Communications Equipment 0.8% |
||||||||||||||
Cisco Systems, Inc. |
80,246 | 2,280,591 | ||||||||||||
|
|
|||||||||||||
Construction & Engineering 0.1% |
||||||||||||||
Abengoa SA (Spain) |
29,373 | 324,719 | ||||||||||||
|
|
|||||||||||||
Consumer Finance 0.2% |
||||||||||||||
Navient Corp. |
33,328 | 523,250 | ||||||||||||
|
|
|||||||||||||
Containers & Packaging 0.3% |
||||||||||||||
Bemis Co., Inc. |
8,836 | 393,820 | ||||||||||||
Packaging Corp. of America |
5,158 | 365,135 | ||||||||||||
|
|
|||||||||||||
758,955 | ||||||||||||||
|
|
|||||||||||||
Diversified Telecommunication Services 0.4% |
||||||||||||||
Frontier Communications Corp. |
191,258 | 902,738 | ||||||||||||
HKBN Ltd. (Hong Kong), 144A(a)(b) |
61,931 | 66,546 | ||||||||||||
|
|
|||||||||||||
969,284 | ||||||||||||||
|
|
|||||||||||||
Electric Utilities |
||||||||||||||
Alupar Investimento SA (Brazil) |
12,364 | 59,113 | ||||||||||||
|
|
|||||||||||||
Food Products 1.1% |
||||||||||||||
J.M. Smucker Co. (The) |
7,259 | 810,758 | ||||||||||||
Kraft Heinz Co. The |
18,430 | 1,464,632 | ||||||||||||
Pinnacle Foods, Inc. |
16,327 | 733,898 | ||||||||||||
|
|
|||||||||||||
3,009,288 | ||||||||||||||
|
|
Hotels, Restaurants & Leisure 1.3% |
||||||||||||||
Carnival Corp. |
16,944 | 902,946 | ||||||||||||
McDonalds Corp. |
6,949 | 693,927 | ||||||||||||
Merlin Entertainments PLC (United Kingdom) |
69,578 | 450,634 | ||||||||||||
Starbucks Corp. |
16,815 | 974,093 | ||||||||||||
Starwood Hotels & Resorts Worldwide, Inc. |
7,227 | 574,257 | ||||||||||||
|
|
|||||||||||||
3,595,857 | ||||||||||||||
|
|
|||||||||||||
Household Products 0.2% |
||||||||||||||
Procter & Gamble Co. (The) |
6,347 | 486,815 | ||||||||||||
|
|
|||||||||||||
Independent Power & Renewable Electricity Producers 0.7% |
||||||||||||||
Abengoa Yield PLC (Spain) |
38,965 | 988,932 | ||||||||||||
NextEra Energy Partners LP, MLP |
5,842 | 208,442 | ||||||||||||
NRG Yield, Inc. (Class A Stock) |
10,797 | 212,809 | ||||||||||||
NRG Yield, Inc. (Class C Stock) |
22,413 | 432,347 | ||||||||||||
|
|
|||||||||||||
1,842,530 | ||||||||||||||
|
|
|||||||||||||
Insurance 0.5% |
||||||||||||||
MetLife, Inc. |
12,112 | 675,123 | ||||||||||||
Montpelier Re Holdings Ltd. (Bermuda) |
13,560 | 578,334 | ||||||||||||
|
|
|||||||||||||
1,253,457 | ||||||||||||||
|
|
|||||||||||||
Internet Software & Services 0.2% |
||||||||||||||
Yahoo!, Inc.(a) |
15,285 | 560,501 | ||||||||||||
|
|
|||||||||||||
IT Services 0.8% |
||||||||||||||
Computer Sciences Corp. |
16,935 | 1,108,057 | ||||||||||||
Xerox Corp. |
94,283 | 1,038,999 | ||||||||||||
|
|
|||||||||||||
2,147,056 | ||||||||||||||
|
|
|||||||||||||
Life Sciences Tools & Services 0.4% |
||||||||||||||
Thermo Fisher Scientific, Inc. |
7,006 | 977,547 | ||||||||||||
|
|
|||||||||||||
Media 0.6% |
||||||||||||||
Cinemark Holdings, Inc. |
14,090 | 555,991 | ||||||||||||
Time Warner, Inc. |
11,397 | 1,003,392 | ||||||||||||
|
|
|||||||||||||
1,559,383 | ||||||||||||||
|
|
|||||||||||||
Multi-Utilities 0.3% |
||||||||||||||
NiSource, Inc. |
11,045 | 192,846 | ||||||||||||
PG&E Corp. |
10,498 | 551,250 | ||||||||||||
|
|
|||||||||||||
744,096 | ||||||||||||||
|
|
|||||||||||||
Oil, Gas & Consumable Fuels 9.3% |
||||||||||||||
Antero Midstream Partners LP, MLP |
14,888 | 397,212 | ||||||||||||
Blueknight Energy Partners LP, MLP |
25,659 | 180,126 | ||||||||||||
Buckeye Partners LP, MLP |
12,118 | 908,486 | ||||||||||||
Cheniere Energy Partners LP Holdings LLC |
39,937 | 873,023 | ||||||||||||
Cheniere Energy Partners LP, MLP |
21,463 | 644,319 | ||||||||||||
Cheniere Energy, Inc.(a) |
1,637 | 112,904 | ||||||||||||
Columbia Pipeline Group, Inc. |
45,176 | 1,318,236 | ||||||||||||
Columbia Pipeline Partners LP, MLP |
22,106 | 518,165 | ||||||||||||
Crossamerica Partners LP, MLP |
17,283 | 482,369 | ||||||||||||
Dominion Midstream Partners LP, MLP |
16,160 | 567,539 | ||||||||||||
Enbridge Energy Partners LP, MLP |
20,809 | 654,027 | ||||||||||||
Energy Transfer Equity LP, MLP |
40,520 | 1,218,842 | ||||||||||||
Energy Transfer Partners LP, MLP |
26,307 | 1,346,918 | ||||||||||||
Enterprise Products Partners LP, MLP |
10,372 | 293,839 | ||||||||||||
EQT GP Holdings LP, MLP |
35,250 | 1,149,502 | ||||||||||||
EQT Midstream Partners LP, MLP |
5,511 | 434,157 | ||||||||||||
Euronav NV (Belgium) |
26,134 | 396,714 | ||||||||||||
Kinder Morgan, Inc. |
50,760 | 1,758,326 |
NuStar Energy LP, MLP |
11,845 | 670,072 | ||||||||||||
Pembina Pipeline Corp. (Canada) |
14,240 | 414,242 | ||||||||||||
Phillips 66 Partners LP, MLP |
5,640 | 351,428 | ||||||||||||
Plains All American Pipeline LP, MLP |
5,308 | 221,609 | ||||||||||||
Plains GP Holdings LP, MLP (Class A Stock) |
22,993 | 589,540 | ||||||||||||
Rice Midstream Partners LP, MLP |
25,674 | 427,986 | ||||||||||||
Rose Rock Midstream LP, MLP |
12,302 | 490,235 | ||||||||||||
SemGroup Corp. (Class A Stock) |
16,144 | 1,147,677 | ||||||||||||
Shell Midstream Partners LP, MLP |
21,528 | 914,079 | ||||||||||||
Summit Midstream Partners LP, MLP |
14,844 | 444,726 | ||||||||||||
Sunoco Logistics Partners LP, MLP |
8,457 | 316,461 | ||||||||||||
Sunoco LP, MLP |
14,833 | 588,870 | ||||||||||||
Tallgrass Energy GP LP, MLP |
29,943 | 900,685 | ||||||||||||
Tallgrass Energy Partners LP, MLP |
21,272 | 983,830 | ||||||||||||
USA Compression Partners LP, MLP |
31,654 | 567,556 | ||||||||||||
Western Gas Equity Partners LP, MLP |
3,824 | 224,316 | ||||||||||||
Western Refining Logistics LP, MLP |
13,919 | 356,048 | ||||||||||||
Williams Cos., Inc. (The) |
40,546 | 2,127,854 | ||||||||||||
Williams Partners LP, MLP |
17,064 | 787,162 | ||||||||||||
|
|
|||||||||||||
25,779,080 | ||||||||||||||
|
|
|||||||||||||
Pharmaceuticals 1.8% |
||||||||||||||
AbbVie, Inc. |
9,322 | 652,633 | ||||||||||||
Bristol-Myers Squibb Co. |
21,874 | 1,435,809 | ||||||||||||
Endo International PLC(a) |
6,318 | 553,078 | ||||||||||||
Merck & Co., Inc. |
20,824 | 1,227,783 | ||||||||||||
Novartis AG (Switzerland), ADR |
3,761 | 390,204 | ||||||||||||
Pfizer, Inc. |
21,090 | 760,505 | ||||||||||||
|
|
|||||||||||||
5,020,012 | ||||||||||||||
|
|
|||||||||||||
Real Estate Investment Trusts (REITs) 9.5% |
||||||||||||||
Agellan Commercial Real Estate Investment Trust (Canada) |
148,976 | 991,009 | ||||||||||||
Ascendas Real Estate Investment Trust (Singapore) |
381,440 | 672,509 | ||||||||||||
Cache Logistics Trust (Singapore) |
1,086,900 | 855,557 | ||||||||||||
Community Healthcare Trust, Inc.(a) |
51,965 | 980,580 | ||||||||||||
Crown Castle International Corp. |
7,946 | 650,857 | ||||||||||||
CyrusOne, Inc. |
23,432 | 720,300 | ||||||||||||
Dexus Property Group (Australia) |
84,737 | 480,869 | ||||||||||||
Digital Realty Trust, Inc. |
15,087 | 969,641 | ||||||||||||
Easterly Government Properties, Inc. |
59,563 | 941,095 | ||||||||||||
Empiric Student Property PLC (United Kingdom) |
353,990 | 597,032 | ||||||||||||
Federation Centres (Australia) |
257,233 | 562,972 | ||||||||||||
First Potomac Realty Trust |
85,682 | 972,491 | ||||||||||||
Fonciere Des Regions (France) |
2,921 | 252,224 | ||||||||||||
GEO Group, Inc. (The) |
23,566 | 889,616 | ||||||||||||
Health Care REIT, Inc. |
12,706 | 881,415 | ||||||||||||
Healthcare Trust of America, Inc. (Class A Stock) |
19,592 | 492,347 | ||||||||||||
Keppel REIT (Singapore) |
1,235,300 | 968,645 | ||||||||||||
Lexington Realty Trust |
114,829 | 987,529 | ||||||||||||
Mapletree Commercial Trust (Singapore) |
548,750 | 546,152 | ||||||||||||
MFA Financial, Inc. |
58,258 | 438,683 | ||||||||||||
Mirvac Group (Australia) |
183,550 | 252,873 | ||||||||||||
National Retail Properties, Inc. |
31,000 | 1,152,270 | ||||||||||||
New York REIT, Inc. |
47,642 | 493,571 | ||||||||||||
Physicians Realty Trust |
57,661 | 924,882 | ||||||||||||
Piedmont Office Realty Trust, Inc. (Class A Stock) |
27,151 | 494,420 | ||||||||||||
QTS Realty Trust, Inc. (Class A Stock) |
9,023 | 374,455 | ||||||||||||
Retail Properties of America, Inc. (Class A Stock) |
33,091 | 481,805 | ||||||||||||
RioCan Real Estate Investment Trust (Canada) |
24,577 | 503,435 | ||||||||||||
RLJ Lodging Trust |
12,668 | 377,886 |
Sabra Health Care REIT, Inc. |
34,333 | 939,008 | ||||||||||||
Senior Housing Properties Trust |
55,812 | 963,873 | ||||||||||||
Slate Retail REIT (Canada) |
87,450 | 964,200 | ||||||||||||
STAG Industrial, Inc. |
53,210 | 1,045,044 | ||||||||||||
Starwood Property Trust, Inc. |
32,568 | 708,680 | ||||||||||||
STORE Capital Corp. |
28,716 | 603,036 | ||||||||||||
Suntec Real Estate Investment Trust (Singapore) |
498,200 | 618,300 | ||||||||||||
Tritax Big Box REIT PLC (United Kingdom) |
146,810 | 270,591 | ||||||||||||
Wereldhave NV (Netherlands) |
6,340 | 374,952 | ||||||||||||
|
|
|||||||||||||
26,394,804 | ||||||||||||||
|
|
|||||||||||||
Real Estate Management & Development 0.1% |
| |||||||||||||
TLG Immobilien AG (Germany) |
22,882 | 409,496 | ||||||||||||
|
|
|||||||||||||
Road & Rail 0.3% |
| |||||||||||||
Canadian Pacific Railway Ltd. (Canada) |
1,751 | 281,649 | ||||||||||||
Union Pacific Corp. |
5,863 | 572,170 | ||||||||||||
|
|
|||||||||||||
853,819 | ||||||||||||||
|
|
|||||||||||||
Software 0.3% |
| |||||||||||||
Microsoft Corp. |
17,793 | 830,933 | ||||||||||||
|
|
|||||||||||||
Specialty Retail 0.8% |
| |||||||||||||
GameStop Corp. (Class A Stock) |
18,662 | 855,653 | ||||||||||||
Home Depot, Inc. (The) |
8,588 | 1,005,053 | ||||||||||||
Lowes Cos., Inc. |
4,877 | 338,269 | ||||||||||||
|
|
|||||||||||||
2,198,975 | ||||||||||||||
|
|
|||||||||||||
Technology Hardware, Storage & Peripherals 0.7% |
| |||||||||||||
Apple, Inc. |
17,085 | 2,072,410 | ||||||||||||
|
|
|||||||||||||
Tobacco 0.8% |
| |||||||||||||
Philip Morris International, Inc. |
8,071 | 690,313 | ||||||||||||
Reynolds American, Inc. |
19,314 | 1,656,948 | ||||||||||||
|
|
|||||||||||||
2,347,261 | ||||||||||||||
|
|
|||||||||||||
Wireless Telecommunication Services 0.4% |
| |||||||||||||
Vodafone Group PLC (United Kingdom), ADR |
31,135 | 1,176,280 | ||||||||||||
|
|
|||||||||||||
TOTAL COMMON STOCKS |
96,742,193 | |||||||||||||
|
|
|||||||||||||
EXCHANGE TRADED FUNDS 12.1% |
| |||||||||||||
PowerShares Preferred Portfolio ETF |
1,331,486 | 19,572,844 | ||||||||||||
SPDR Barclays Convertible Securities ETF |
293,864 | 13,882,136 | ||||||||||||
|
|
|||||||||||||
TOTAL EXCHANGE TRADED FUNDS |
33,454,980 | |||||||||||||
|
|
|||||||||||||
PREFERRED STOCKS 3.2% |
| |||||||||||||
Diversified Telecommunication Services 0.2% |
| |||||||||||||
Frontier Communications Corp., CVT, Series A, 11.125%(a) |
6,961 | 680,438 | ||||||||||||
|
|
|||||||||||||
Independent Power & Renewable Electricity Producers 0.1% |
| |||||||||||||
Dynegy, Inc., CVT, Series A, 5.375% |
2,362 | 222,051 | ||||||||||||
|
|
|||||||||||||
Oil, Gas & Consumable Fuels 0.2% |
| |||||||||||||
Anadarko Petroleum Corp., CVT, 7.500%(a) |
8,736 | 437,936 | ||||||||||||
|
|
|||||||||||||
Real Estate Investment Trusts (REITs) 2.7% |
| |||||||||||||
American Tower Corp., CVT, Series B, 5.500% |
5,122 | 519,729 | ||||||||||||
Boston Properties, Inc., 5.250% |
12,850 | 321,443 | ||||||||||||
Chesapeake Lodging Trust, Series A, 7.750% |
5,094 | 135,246 | ||||||||||||
DDR Corp., Series K, 6.250% |
25,100 | 637,540 |
Digital Realty Trust, Inc., Series G, 5.875% |
17,000 | 412,250 | ||||||||||||||
Gramercy Property Trust, Inc., Series B, 7.125% |
33,856 | 895,491 | ||||||||||||||
Inland Real Estate Corp., Series B, 6.950% |
24,480 | 620,935 | ||||||||||||||
Kimco Realty Corp., Series J, 5.500% |
19,850 | 484,340 | ||||||||||||||
Lasalle Hotel Properties, Series I, 6.375% |
16,250 | 406,413 | ||||||||||||||
Pennsylvania Real Estate Investment Trust, |
26,000 | 690,560 | ||||||||||||||
STAG Industrial, Inc., Series B, 6.625% |
16,382 | 419,461 | ||||||||||||||
Taubman Centers, Inc., Series K, 6.250% |
31,900 | 810,419 | ||||||||||||||
Verieit, Inc., Series F, 6.700% |
41,800 | 1,026,190 | ||||||||||||||
|
|
|||||||||||||||
7,380,017 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL PREFERRED STOCKS |
8,720,442 | |||||||||||||||
|
|
|||||||||||||||
Interest Rate |
Maturity Date | Principal Amount (000)# |
||||||||||||||
CORPORATE BONDS 27.7% |
||||||||||||||||
Aerospace & Defense 0.4% |
||||||||||||||||
Amsted Industries, Inc., Gtd. Notes, 144A |
5.000 | % | 03/15/22 | 239 | 238,402 | |||||||||||
Amsted Industries, Inc., Gtd. Notes, 144A |
5.375 | % | 09/15/24 | 353 | 349,470 | |||||||||||
Bombardier, Inc. (Canada), |
7.500 | % | 03/15/25 | 75 | 62,063 | |||||||||||
DAE Aviation Holdings, Inc., Gtd. Notes, 144A |
10.000 | % | 07/15/23 | 150 | 151,125 | |||||||||||
TransDigm, Inc., Gtd. Notes |
6.000 | % | 07/15/22 | 150 | 149,625 | |||||||||||
TransDigm, Inc., Gtd. Notes |
6.500 | % | 07/15/24 | 150 | 150,750 | |||||||||||
|
|
|||||||||||||||
1,101,435 | ||||||||||||||||
|
|
|||||||||||||||
Airlines 0.1% |
||||||||||||||||
Continental Airlines, Inc., Pass-Through Certificates |
6.125 | % | 04/29/18 | 300 | 313,500 | |||||||||||
|
|
|||||||||||||||
Auto Components 0.5% |
||||||||||||||||
American Axle & Manufacturing, Inc., Gtd. Notes |
6.625 | % | 10/15/22 | 150 | 156,750 | |||||||||||
American Axle & Manufacturing, Inc., Gtd. Notes |
7.750 | % | 11/15/19 | 150 | 169,125 | |||||||||||
Dana Holding Corp., Sr. Unsecd. Notes |
5.500 | % | 12/15/24 | 100 | 98,500 | |||||||||||
Lear Corp., Gtd. Notes |
5.250 | % | 01/15/25 | 200 | 198,500 | |||||||||||
Meritor, Inc., Gtd. Notes |
6.250 | % | 02/15/24 | 125 | 125,312 | |||||||||||
Meritor, Inc., Gtd. Notes |
6.750 | % | 06/15/21 | 150 | 154,125 | |||||||||||
Omega US Sub. LLC, Sr. Unsecd. Notes, 144A |
8.750 | % | 07/15/23 | 150 | 145,500 | |||||||||||
Schaeffler Finance BV (Germany), |
4.750 | % | 05/15/23 | 200 | 195,500 | |||||||||||
ZF North America Capital, Inc. (Germany), |
4.750 | % | 04/29/25 | 250 | 244,375 | |||||||||||
|
|
|||||||||||||||
1,487,687 | ||||||||||||||||
|
|
|||||||||||||||
Automobiles 0.1% |
||||||||||||||||
Fiat Chrysler Automobiles NV (United Kingdom), |
5.250 | % | 04/15/23 | 200 | 201,250 | |||||||||||
General Motors Co., Sr. Unsecd. Notes |
4.875 | % | 10/02/23 | 100 | 102,521 | |||||||||||
|
|
|||||||||||||||
303,771 | ||||||||||||||||
|
|
|||||||||||||||
Banks 0.4% |
||||||||||||||||
BBVA Bancomer SA (Mexico), Sub. Notes, 144A |
6.750 | % | 09/30/22 | 200 | 224,600 | |||||||||||
CIT Group, Inc., Sr. Unsecd. Notes |
5.000 | % | 08/15/22 | 425 | 431,906 | |||||||||||
CIT Group, Inc., Sr. Unsecd. Notes, 144A |
5.500 | % | 02/15/19 | 200 | 211,500 | |||||||||||
CITIC Ltd. (China), Sr. Unsecd. Notes, RegS |
6.800 | % | 01/17/23 | 200 | 230,862 | |||||||||||
ICICI Bank Ltd. (India), Jr. Sub. Notes, RegS(d) |
6.375 | % | 04/30/22 | 100 | 103,500 | |||||||||||
|
|
|||||||||||||||
1,202,368 | ||||||||||||||||
|
|
Beverages 0.1% |
||||||||||||||||
Cott Beverages, Inc. (Canada), Gtd. Notes, 144A |
6.750 | % | 01/01/20 | 200 | 208,250 | |||||||||||
|
|
|||||||||||||||
Building Products 0.8% |
||||||||||||||||
Builders FirstSource, Inc., Gtd. Notes, 144A |
10.750 | % | 08/15/23 | 200 | 206,000 | |||||||||||
Building Materials Corp. of America, Sr. Unsecd. Notes, 144A (original cost $101,750; purchased 03/25/15)(b)(c) |
5.375 | % | 11/15/24 | 100 | 100,240 | |||||||||||
Building Materials Corp. of America, Sr. Unsecd. Notes, 144A (original cost $240,656; purchased 01/30/15 - 03/27/15)(b)(c) |
6.750 | % | 05/01/21 | 225 | 236,250 | |||||||||||
Cemex SAB de CV (Mexico), Sr. Secd. Notes, 144A |
5.700 | % | 01/11/25 | 200 | 194,400 | |||||||||||
Cemex SAB de CV (Mexico), Sr. Secd. Notes, 144A |
6.500 | % | 12/10/19 | 200 | 208,190 | |||||||||||
Griffon Corp., Gtd. Notes |
5.250 | % | 03/01/22 | 430 | 419,250 | |||||||||||
Summit Materials LLC/Summit Materials Finance Corp., Gtd. Notes, 144A |
6.125 | % | 07/15/23 | 150 | 148,875 | |||||||||||
Unifrax I LLC/Unifrax Holding Co., Gtd. Notes, 144A |
7.500 | % | 02/15/19 | 350 | 350,000 | |||||||||||
USG Corp., Gtd. Notes, 144A |
5.500 | % | 03/01/25 | 240 | 240,600 | |||||||||||
USG Corp., Sr. Unsecd. Notes |
9.750 | % | 01/15/18 | 50 | 56,875 | |||||||||||
|
|
|||||||||||||||
2,160,680 | ||||||||||||||||
|
|
|||||||||||||||
Capital Markets |
||||||||||||||||
KCG Holdings, Inc., Sr. Secd. Notes, 144A |
6.875 | % | 03/15/20 | 50 | 47,500 | |||||||||||
|
|
|||||||||||||||
Chemicals 1.5% |
||||||||||||||||
A Schulman, Inc., Gtd. Notes, 144A |
6.875 | % | 06/01/23 | 175 | 177,187 | |||||||||||
Ashland, Inc., Sr. Unsecd. Notes |
6.875 | % | 05/15/43 | 300 | 308,250 | |||||||||||
Axalta Coating Systems US Holdings, Inc./Axalta Coating Systems Dutch Holdings BV, Gtd. Notes, 144A |
7.375 | % | 05/01/21 | 350 | 372,750 | |||||||||||
Axiall Corp., Gtd. Notes |
4.875 | % | 05/15/23 | 50 | 48,125 | |||||||||||
Celanese US Holdings LLC, Gtd. Notes |
5.875 | % | 06/15/21 | 75 | 79,500 | |||||||||||
Chemours Co. (The), Sr. Unsecd. Notes, 144A |
6.625 | % | 05/15/23 | 100 | 88,000 | |||||||||||
Chemours Co. (The), Sr. Unsecd. Notes, 144A |
7.000 | % | 05/15/25 | 75 | 65,789 | |||||||||||
Chemtura Corp., Gtd. Notes |
5.750 | % | 07/15/21 | 490 | 494,900 | |||||||||||
Consolidated Energy Finance SA (Trinidad and Tobago), |
6.750 | % | 10/15/19 | 200 | 202,004 | |||||||||||
Eagle Spinco, Inc., Gtd. Notes |
4.625 | % | 02/15/21 | 75 | 72,938 | |||||||||||
Hexion, Inc., Sr. Secd. Notes |
6.625 | % | 04/15/20 | 250 | 229,062 | |||||||||||
Hexion, Inc., Sr. Secd. Notes |
10.000 | % | 04/15/20 | 450 | 460,125 | |||||||||||
Hexion, Inc./Hexion Nova Scotia Finance ULC, Secd. Notes |
9.000 | % | 11/15/20 | 200 | 142,000 | |||||||||||
Kissner Milling Co., Ltd. (Canada), Sr. Secd. Notes, 144A |
7.250 | % | 06/01/19 | 125 | 124,219 | |||||||||||
Koppers, Inc., Gtd. Notes |
7.875 | % | 12/01/19 | 155 | 157,657 | |||||||||||
Mexichem SAB de CV (Mexico), Gtd. Notes, 144A |
6.750 | % | 09/19/42 | 200 | 205,000 | |||||||||||
Platform Specialty Products Corp., Sr. Unsecd. Notes, 144A |
6.500 | % | 02/01/22 | 125 | 129,375 | |||||||||||
PolyOne Corp., Sr. Unsecd. Notes |
7.375 | % | 09/15/20 | 200 | 208,302 | |||||||||||
Rentech Nitrogen Partners LP/Rentech Nitrogen Finance Corp., Secd. Notes, 144A |
6.500 | % | 04/15/21 | 125 | 122,188 | |||||||||||
TPC Group, Inc., Sr. Secd. Notes, 144A |
8.750 | % | 12/15/20 | 250 | 224,375 | |||||||||||
Tronox Finance LLC, Gtd. Notes |
6.375 | % | 08/15/20 | 100 | 82,000 | |||||||||||
|
|
|||||||||||||||
3,993,746 | ||||||||||||||||
|
|
|||||||||||||||
Commercial Services & Supplies 0.7% |
||||||||||||||||
Ahern Rentals, Inc., Secd. Notes, 144A |
7.375 | % | 05/15/23 | 75 | 70,875 | |||||||||||
Cimpress NV, Gtd. Notes, 144A |
7.000 | % | 04/01/22 | 225 | 230,625 | |||||||||||
Clean Harbors, Inc., Gtd. Notes |
5.125 | % | 06/01/21 | 250 | 251,875 | |||||||||||
Covanta Holding Corp., Sr. Unsecd. Notes |
5.875 | % | 03/01/24 | 200 | 197,000 |
Interactive Data Corp., Gtd. Notes, 144A |
5.875 | % | 04/15/19 | 100 | 101,500 | |||||||||||
Jurassic Holdings III, Inc., Secd. Notes, 144A |
6.875 | % | 02/15/21 | 175 | 122,500 | |||||||||||
Laureate Education, Inc., Gtd. Notes, 144A |
10.000 | % | 09/01/19 | 250 | 235,312 | |||||||||||
NES Rentals Holdings, Inc., Secd. Notes, 144A |
7.875 | % | 05/01/18 | 50 | 50,000 | |||||||||||
RR Donnelley & Sons Co., Sr. Unsecd. Notes |
6.000 | % | 04/01/24 | 100 | 101,000 | |||||||||||
RR Donnelley & Sons Co., Sr. Unsecd. Notes |
6.500 | % | 11/15/23 | 100 | 103,250 | |||||||||||
Service Corp. International, Sr. Unsecd. Notes |
5.375 | % | 05/15/24 | 200 | 212,000 | |||||||||||
United Rentals North America, Inc., Gtd. Notes |
5.500 | % | 07/15/25 | 75 | 71,719 | |||||||||||
United Rentals North America, Inc., Gtd. Notes |
7.625 | % | 04/15/22 | 75 | 81,469 | |||||||||||
United Rentals North America, Inc., Gtd. Notes |
8.250 | % | 02/01/21 | 108 | 114,940 | |||||||||||
|
|
|||||||||||||||
1,944,065 | ||||||||||||||||
|
|
|||||||||||||||
Communications Equipment 0.5% |
||||||||||||||||
Aegis Merger Sub, Inc., Sr. Unsecd. Notes, 144A |
10.250 | % | 02/15/23 | 75 | 76,875 | |||||||||||
Alcatel-Lucent USA, Inc. (France), Gtd. Notes, 144A |
6.750 | % | 11/15/20 | 400 | 430,000 | |||||||||||
CommScope Holding Co., Inc., Sr. Unsecd. Notes, 144A |
6.625 | % | 06/01/20 | 365 | 379,600 | |||||||||||
CommScope Technologies Finance LLC, Sr. Secd. Notes, 144A |
6.000 | % | 06/15/25 | 425 | 419,687 | |||||||||||
|
|
|||||||||||||||
1,306,162 | ||||||||||||||||
|
|
|||||||||||||||
Construction & Engineering 1.1% |
||||||||||||||||
AECOM, Gtd. Notes, 144A |
5.750 | % | 10/15/22 | 200 | 203,000 | |||||||||||
AECOM, Gtd. Notes, 144A |
5.875 | % | 10/15/24 | 200 | 203,000 | |||||||||||
Beazer Homes USA, Inc., Gtd. Notes |
5.750 | % | 06/15/19 | 50 | 49,750 | |||||||||||
Beazer Homes USA, Inc., Sr. Secd. Notes |
6.625 | % | 04/15/18 | 225 | 231,750 | |||||||||||
Brookfield Residential Properties, Inc. (Canada), |
6.500 | % | 12/15/20 | 275 | 277,750 | |||||||||||
Brookfield Residential Properties, Inc. (Canada), |
6.375 | % | 05/15/25 | 75 | 72,938 | |||||||||||
D.R. Horton, Inc., Gtd. Notes |
4.750 | % | 02/15/23 | 100 | 100,750 | |||||||||||
KB Home, Gtd. Notes |
7.250 | % | 06/15/18 | 150 | 161,625 | |||||||||||
KB Home, Gtd. Notes |
7.625 | % | 05/15/23 | 50 | 52,375 | |||||||||||
Lennar Corp., Gtd. Notes |
4.500 | % | 11/15/19 | 75 | 77,531 | |||||||||||
Lennar Corp., Gtd. Notes |
4.750 | % | 05/30/25 | 100 | 97,250 | |||||||||||
Meritage Homes Corp., Gtd. Notes, 144A |
6.000 | % | 06/01/25 | 50 | 50,500 | |||||||||||
Odebrecht Finance Ltd. (Brazil), Gtd. Notes, RegS |
7.125 | % | 06/26/42 | 200 | 138,500 | |||||||||||
Ryland Group, Inc. (The), Gtd. Notes |
5.375 | % | 10/01/22 | 150 | 151,875 | |||||||||||
Shea Homes LP/Shea Homes Funding Corp., Gtd. Notes, 144A |
5.875 | % | 04/01/23 | 100 | 101,500 | |||||||||||
Shea Homes LP/Shea Homes Funding Corp., Gtd. Notes, 144A |
6.125 | % | 04/01/25 | 225 | 230,062 | |||||||||||
Standard Pacific Corp., Gtd. Notes |
8.375 | % | 01/15/21 | 200 | 235,500 | |||||||||||
Taylor Morrison Communities, Inc./Monarch Communities, Inc., |
5.875 | % | 04/15/23 | 425 | 425,531 | |||||||||||
WCI Communities, Inc., Gtd. Notes |
6.875 | % | 08/15/21 | 75 | 77,813 | |||||||||||
William Lyon Homes, Inc., Gtd. Notes |
7.000 | % | 08/15/22 | 125 | 130,312 | |||||||||||
|
|
|||||||||||||||
3,069,312 | ||||||||||||||||
|
|
|||||||||||||||
Consumer Finance 0.3% |
||||||||||||||||
Ally Financial, Inc., Gtd. Notes |
8.000 | % | 03/15/20 | 100 | 118,000 | |||||||||||
Navient Corp., Sr. Unsecd. Notes, MTN |
8.000 | % | 03/25/20 | 100 | 104,000 | |||||||||||
OneMain Financial Holdings, Inc., Gtd. Notes, 144A |
6.750 | % | 12/15/19 | 50 | 52,750 | |||||||||||
OneMain Financial Holdings, Inc., Gtd. Notes, 144A |
7.250 | % | 12/15/21 | 325 | 338,812 | |||||||||||
Springleaf Finance Corp., Gtd. Notes |
6.000 | % | 06/01/20 | 50 | 51,125 | |||||||||||
Springleaf Finance Corp., Gtd. Notes |
8.250 | % | 10/01/23 | 100 | 112,500 | |||||||||||
|
|
|||||||||||||||
777,187 | ||||||||||||||||
|
|
Containers & Packaging 0.8% |
||||||||||||||||
AEP Industries, Inc., Sr. Unsecd. Notes |
8.250 | % | 04/15/19 | 175 | 177,625 | |||||||||||
Ardagh Finance Holdings SA (Luxembourg), |
8.625 | % | 06/15/19 | 543 | 567,196 | |||||||||||
Coveris Holdings SA (Luxembourg), Gtd. Notes, 144A |
7.875 | % | 11/01/19 | 200 | 197,438 | |||||||||||
Greif, Inc., Sr. Unsecd. Notes |
7.750 | % | 08/01/19 | 500 | 555,000 | |||||||||||
PaperWorks Industries, Inc., Sr. Secd. Notes, 144A |
9.500 | % | 08/15/19 | 150 | 151,500 | |||||||||||
Plastipak Holdings, Inc., Sr. Unsecd. Notes, 144A |
6.500 | % | 10/01/21 | 175 | 175,875 | |||||||||||
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC |
9.875 | % | 08/15/19 | 100 | 105,187 | |||||||||||
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC |
6.875 | % | 02/15/21 | 300 | 313,564 | |||||||||||
Sealed Air Corp., Gtd. Notes, 144A |
4.875 | % | 12/01/22 | 25 | 25,094 | |||||||||||
|
|
|||||||||||||||
2,268,479 | ||||||||||||||||
|
|
|||||||||||||||
Distributors 0.4% |
||||||||||||||||
American Tire Distributors, Inc., Sr. Sub. Notes, 144A |
10.250 | % | 03/01/22 | 100 | 104,250 | |||||||||||
Brightstar Corp., Sr. Unsecd. Notes, 144A |
7.250 | % | 08/01/18 | 300 | 316,500 | |||||||||||
H&E Equipment Services, Inc., Gtd. Notes |
7.000 | % | 09/01/22 | 175 | 174,125 | |||||||||||
HD Supply, Inc., Sr. Secd. Notes, 144A |
5.250 | % | 12/15/21 | 500 | 515,000 | |||||||||||
|
|
|||||||||||||||
1,109,875 | ||||||||||||||||
|
|
|||||||||||||||
Diversified Financial Services 0.3% |
||||||||||||||||
CoreLogic, Inc., Gtd. Notes |
7.250 | % | 06/01/21 | 250 | 264,375 | |||||||||||
International Lease Finance Corp., Sr. Unsecd. Notes |
3.875 | % | 04/15/18 | 5 | 5,056 | |||||||||||
International Lease Finance Corp., Sr. Unsecd. Notes |
5.875 | % | 08/15/22 | 475 | 517,750 | |||||||||||
International Lease Finance Corp., Sr. Unsecd. Notes |
8.625 | % | 01/15/22 | 50 | 61,500 | |||||||||||
International Lease Finance Corp., Sr. Unsecd. Notes |
8.875 | % | 09/01/17 | 50 | 55,688 | |||||||||||
|
|
|||||||||||||||
904,369 | ||||||||||||||||
|
|
|||||||||||||||
Diversified Telecommunication Services 0.7% |
||||||||||||||||
Bharti Airtel International Netherlands BV (India), |
5.125 | % | 03/11/23 | 200 | 213,554 | |||||||||||
CenturyLink, Inc., Sr. Unsecd. Notes |
5.625 | % | 04/01/20 | 100 | 102,115 | |||||||||||
CyrusOne LP/CyrusOne Finance Corp., Gtd. Notes |
6.375 | % | 11/15/22 | 125 | 129,375 | |||||||||||
CyrusOne LP/CyrusOne Finance Corp., Gtd. Notes, 144A |
6.375 | % | 11/15/22 | 250 | 258,750 | |||||||||||
Digicel Ltd. (Jamaica), Gtd. Notes, 144A |
6.750 | % | 03/01/23 | 200 | 191,900 | |||||||||||
Digicel Ltd. (Jamaica), Sr. Unsecd. Notes, RegS |
6.000 | % | 04/15/21 | 200 | 188,500 | |||||||||||
Frontier Communications Corp., Sr. Unsecd. Notes |
8.750 | % | 04/15/22 | 125 | 123,984 | |||||||||||
Level 3 Financing, Inc., Gtd. Notes |
6.125 | % | 01/15/21 | 300 | 314,625 | |||||||||||
Level 3 Financing, Inc., Gtd. Notes |
8.625 | % | 07/15/20 | 75 | 80,063 | |||||||||||
TBG Global Pte Ltd. (Indonesia), Gtd. Notes, RegS |
4.625 | % | 04/03/18 | 200 | 200,500 | |||||||||||
Wind Acquisition Finance SA (Italy), Sr. Secd. Notes, 144A |
6.500 | % | 04/30/20 | 200 | 212,500 | |||||||||||
|
|
|||||||||||||||
2,015,866 | ||||||||||||||||
|
|
|||||||||||||||
Electric Utilities 0.5% |
||||||||||||||||
AES Corp., Sr. Unsecd. Notes |
5.500 | % | 04/15/25 | 500 | 478,750 | |||||||||||
AES Corp., Sr. Unsecd. Notes |
7.375 | % | 07/01/21 | 175 | 192,063 | |||||||||||
DPL, Inc., Sr. Unsecd. Notes |
6.750 | % | 10/01/19 | 250 | 268,125 | |||||||||||
DPL, Inc., Sr. Unsecd. Notes |
7.250 | % | 10/15/21 | 25 | 26,656 | |||||||||||
Listrindo Capital BV (Indonesia), Gtd. Notes, RegS |
6.950 | % | 02/21/19 | 200 | 208,750 | |||||||||||
Mirant Mid-Atlantic, Series B, Pass-Through Trust, |
9.125 | % | 06/30/17 | 38 | 39,682 |
NRG REMA LLC, Pass-Through Certificates(b) |
9.237 | % | 07/02/17 | 4 | 3,790 | |||||||||||
Talen Energy Supply LLC, Gtd. Notes, 144A |
5.125 | % | 07/15/19 | 75 | 72,750 | |||||||||||
|
|
|||||||||||||||
1,290,566 | ||||||||||||||||
|
|
|||||||||||||||
Electronic Components & Equipment 0.1% |
||||||||||||||||
EnerSys, Gtd. Notes, 144A |
5.000 | % | 04/30/23 | 125 | 122,188 | |||||||||||
|
|
|||||||||||||||
Electronic Equipment, Instruments & Components |
||||||||||||||||
Energizer Holdings, Inc., Gtd. Notes, 144A |
5.500 | % | 06/15/25 | 50 | 48,875 | |||||||||||
|
|
|||||||||||||||
Energy Equipment & Services 0.3% |
||||||||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., Gtd. Notes, 144A |
6.250 | % | 04/01/23 | 75 | 75,375 | |||||||||||
Genesis Energy LP/Genesis Energy Finance Corp., Gtd. Notes |
6.000 | % | 05/15/23 | 200 | 190,500 | |||||||||||
Genesis Energy LP/Genesis Energy Finance Corp., Gtd. Notes |
6.750 | % | 08/01/22 | 175 | 174,562 | |||||||||||
MarkWest Energy Partners LP/MarkWest Energy Finance Corp., |
4.875 | % | 12/01/24 | 50 | 48,750 | |||||||||||
MarkWest Energy Partners LP/MarkWest Energy Finance Corp., |
4.875 | % | 06/01/25 | 50 | 48,625 | |||||||||||
PBF Logistics LP/PBF Logistics Finance Corp., Gtd. Notes, 144A |
6.875 | % | 05/15/23 | 50 | 49,875 | |||||||||||
Rockies Express Pipeline LLC, Sr. Unsecd. Notes, 144A |
6.000 | % | 01/15/19 | 150 | 153,375 | |||||||||||
Rose Rock Midstream LP/Rose Rock Finance Corp., |
5.625 | % | 11/15/23 | 25 | 23,750 | |||||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. Notes |
6.875 | % | 02/01/21 | 25 | 26,000 | |||||||||||
Western Refining Logistics LP/WNRL Finance Corp., Gtd. Notes |
7.500 | % | 02/15/23 | 50 | 51,375 | |||||||||||
|
|
|||||||||||||||
842,187 | ||||||||||||||||
|
|
|||||||||||||||
Food & Staples Retailing 0.3% |
||||||||||||||||
Ingles Markets, Inc., Sr. Unsecd. Notes |
5.750 | % | 06/15/23 | 300 | 306,000 | |||||||||||
Rite Aid Corp., Gtd. Notes, 144A |
6.125 | % | 04/01/23 | 425 | 441,469 | |||||||||||
SUPERVALU, Inc., Sr. Unsecd. Notes |
7.750 | % | 11/15/22 | 100 | 105,750 | |||||||||||
|
|
|||||||||||||||
853,219 | ||||||||||||||||
|
|
|||||||||||||||
Food Products 0.8% |
||||||||||||||||
B&G Foods, Inc., Gtd. Notes |
4.625 | % | 06/01/21 | 250 | 248,750 | |||||||||||
Darling Ingredients, Inc., Gtd. Notes |
5.375 | % | 01/15/22 | 100 | 101,250 | |||||||||||
ESAL GmbH (Brazil), Gtd. Notes, 144A |
6.250 | % | 02/05/23 | 200 | 197,000 | |||||||||||
Hearthside Group Holdings LLC/Hearthside Finance Co., |
6.500 | % | 05/01/22 | 100 | 96,000 | |||||||||||
JBS USA LLC/JBS USA Finance, Inc. (Brazil), Gtd. Notes, 144A |
7.250 | % | 06/01/21 | 250 | 262,812 | |||||||||||
JBS USA LLC/JBS USA Finance, Inc. (Brazil), Sr. Unsecd. Notes, 144A |
5.750 | % | 06/15/25 | 100 | 99,094 | |||||||||||
JBS USA LLC/JBS USA Finance, Inc. (Brazil), Sr. Unsecd. Notes, 144A |
5.875 | % | 07/15/24 | 200 | 203,000 | |||||||||||
Pilgrims Pride Corp., Gtd. Notes, 144A |
5.750 | % | 03/15/25 | 25 | 25,563 | |||||||||||
Post Holdings, Inc., Gtd. Notes |
7.375 | % | 02/15/22 | 25 | 25,563 | |||||||||||
Post Holdings, Inc., Gtd. Notes, 144A |
6.000 | % | 12/15/22 | 450 | 436,500 | |||||||||||
Post Holdings, Inc., Gtd. Notes, 144A |
6.750 | % | 12/01/21 | 100 | 100,750 | |||||||||||
Shearers Foods LLC/Chip Finance Corp., Sr. Secd. Notes, 144A |
9.000 | % | 11/01/19 | 150 | 161,250 |
Smithfield Foods, Inc., Sr. Unsecd. Notes |
6.625 | % | 08/15/22 | 75 | 80,171 | |||||||||||
Tops Holding LLC/Tops Markets II Corp., Sr. Secd. Notes, 144A (original cost $100,000; purchased 05/29/15)(b)(c) |
8.000 | % | 06/15/22 | 100 | 99,250 | |||||||||||
|
|
|||||||||||||||
2,136,953 | ||||||||||||||||
|
|
|||||||||||||||
Gas Utilities 0.1% |
||||||||||||||||
Fermaca Enterprises S de RL de CV (Mexico), |
6.375 | % | 03/30/38 | 248 | 249,425 | |||||||||||
|
|
|||||||||||||||
Health Care Equipment & Supplies 0.4% |
||||||||||||||||
Crimson Merger Sub., Inc., Sr. Unsecd. Notes, 144A |
6.625 | % | 05/15/22 | 625 | 576,562 | |||||||||||
Mallinckrodt International Finance SA, Gtd. Notes |
4.750 | % | 04/15/23 | 300 | 289,688 | |||||||||||
Mallinckrodt International Finance SA/Mallinckrodt CB LLC, Gtd. Notes, 144A |
5.750 | % | 08/01/22 | 200 | 208,500 | |||||||||||
Sterigenics-Nordion Holdings LLC, Sr. Unsecd. Notes, 144A(b) |
6.500 | % | 05/15/23 | 50 | 51,125 | |||||||||||
|
|
|||||||||||||||
1,125,875 | ||||||||||||||||
|
|
|||||||||||||||
Health Care Providers & Services 1.8% |
||||||||||||||||
Acadia Healthcare Co., Inc, Gtd. Notes, 144A |
5.625 | % | 02/15/23 | 268 | 272,020 | |||||||||||
Acadia Healthcare Co., Inc., Gtd. Notes |
6.125 | % | 03/15/21 | 50 | 51,500 | |||||||||||
Capella Healthcare, Inc., Gtd. Notes |
9.250 | % | 07/01/17 | 50 | 51,500 | |||||||||||
Centene Corp., Sr. Unsecd. Notes |
4.750 | % | 05/15/22 | 125 | 125,625 | |||||||||||
CHS/Community Health Systems, Inc., Gtd. Notes |
6.875 | % | 02/01/22 | 550 | 588,500 | |||||||||||
CHS/Community Health Systems, Inc., Gtd. Notes |
8.000 | % | 11/15/19 | 250 | 262,810 | |||||||||||
DaVita HealthCare Partners, Inc., Gtd. Notes |
5.000 | % | 05/01/25 | 475 | 469,656 | |||||||||||
HCA, Inc., Gtd. Notes |
5.375 | % | 02/01/25 | 1,370 | 1,400,825 | |||||||||||
HCA, Inc., Gtd. Notes |
5.875 | % | 05/01/23 | 250 | 268,750 | |||||||||||
HealthSouth Corp., Gtd. Notes |
5.125 | % | 03/15/23 | 25 | 25,000 | |||||||||||
HealthSouth Corp., Gtd. Notes |
5.750 | % | 11/01/24 | 200 | 202,000 | |||||||||||
Kindred Healthcare, Inc., Gtd. Notes, 144A |
8.000 | % | 01/15/20 | 50 | 54,125 | |||||||||||
Kindred Healthcare, Inc., Gtd. Notes, 144A |
8.750 | % | 01/15/23 | 25 | 27,563 | |||||||||||
Select Medical Corp., Gtd. Notes |
6.375 | % | 06/01/21 | 325 | 328,250 | |||||||||||
Tenet Healthcare Corp., Sr. Unsecd. Notes |
6.750 | % | 02/01/20 | 725 | 766,687 | |||||||||||
Tenet Healthcare Corp., Sr. Unsecd. Notes |
8.125 | % | 04/01/22 | 25 | 28,047 | |||||||||||
Tenet Healthcare Corp., Sr. Unsecd. Notes, 144A |
6.750 | % | 06/15/23 | 125 | 130,625 | |||||||||||
|
|
|||||||||||||||
5,053,483 | ||||||||||||||||
|
|
|||||||||||||||
Hotels, Restaurants & Leisure 2.1% |
||||||||||||||||
Aramark Services, Inc., Gtd. Notes |
5.750 | % | 03/15/20 | 75 | 78,375 | |||||||||||
Boyd Gaming Corp., Gtd. Notes |
6.875 | % | 05/15/23 | 325 | 338,000 | |||||||||||
Boyd Gaming Corp., Gtd. Notes |
9.000 | % | 07/01/20 | 300 | 326,250 | |||||||||||
CCM Merger, Inc., Gtd. Notes, 144A |
9.125 | % | 05/01/19 | 200 | 216,000 | |||||||||||
Cedar Fair LP/Canadas Wonderland Co./Magnum Management Corp., Gtd. Notes |
5.250 | % | 03/15/21 | 300 | 310,860 | |||||||||||
Eldorado Resorts, Inc., Sr. Unsecd. Notes, 144A |
7.000 | % | 08/01/23 | 375 | 375,937 | |||||||||||
Felcor Lodging LP, Gtd. Notes, 144A |
6.000 | % | 06/01/25 | 795 | 818,850 | |||||||||||
GLP Capital LP/GLP Financing II, Inc., Gtd. Notes |
5.375 | % | 11/01/23 | 250 | 260,482 | |||||||||||
Golden Nugget Escrow, Inc., Sr. Unsecd. Notes, 144A |
8.500 | % | 12/01/21 | 350 | 364,000 | |||||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Gtd. Notes |
5.625 | % | 10/15/21 | 300 | 312,375 | |||||||||||
Interval Acquisition Corp., Gtd. Notes, 144A |
5.625 | % | 04/15/23 | 75 | 75,375 | |||||||||||
Isle of Capri Casinos, Inc., Gtd. Notes |
5.875 | % | 03/15/21 | 150 | 155,625 | |||||||||||
MGM Resorts International, Gtd. Notes |
6.625 | % | 12/15/21 | 300 | 316,875 | |||||||||||
MGM Resorts International, Gtd. Notes |
8.625 | % | 02/01/19 | 100 | 112,750 | |||||||||||
Penn National Gaming, Inc., Sr. Unsecd. Notes |
5.875 | % | 11/01/21 | 150 | 153,000 | |||||||||||
Pinnacle Entertainment, Inc., Gtd. Notes |
6.375 | % | 08/01/21 | 200 | 215,750 | |||||||||||
Pinnacle Entertainment, Inc., Gtd. Notes |
7.750 | % | 04/01/22 | 100 | 112,000 |
Pinnacle Entertainment, Inc., Gtd. Notes |
8.750 | % | 05/15/20 | 200 | 210,500 | |||||||||||
Sabre GLBL, Inc., Sr. Secd. Notes, 144A |
5.375 | % | 04/15/23 | 75 | 74,625 | |||||||||||
Scientific Games International, Inc., Gtd. Notes |
6.625 | % | 05/15/21 | 325 | 258,375 | |||||||||||
Scientific Games International, Inc., Gtd. Notes |
10.000 | % | 12/01/22 | 125 | 121,406 | |||||||||||
Scientific Games International, Inc., Sr. Secd. Notes, 144A |
7.000 | % | 01/01/22 | 75 | 77,719 | |||||||||||
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., Sr. Secd. Notes, 144A |
6.375 | % | 06/01/21 | 250 | 238,125 | |||||||||||
Viking Cruises Ltd., Sr. Unsecd. Notes, 144A |
6.250 | % | 05/15/25 | 50 | 49,625 | |||||||||||
Viking Cruises Ltd., Sr. Unsecd. Notes, 144A |
8.500 | % | 10/15/22 | 100 | 111,125 | |||||||||||
|
|
|||||||||||||||
5,684,004 | ||||||||||||||||
|
|
|||||||||||||||
Household Products 0.2% |
||||||||||||||||
First Quality Finance Co., Inc., Sr. Unsecd. Notes, 144A |
4.625 | % | 05/15/21 | 175 | 166,250 | |||||||||||
Scotts Miracle-Gro Co. (The), Gtd. Notes |
6.625 | % | 12/15/20 | 150 | 156,375 | |||||||||||
Spectrum Brands, Inc., Gtd. Notes, 144A |
5.750 | % | 07/15/25 | 150 | 154,470 | |||||||||||
|
|
|||||||||||||||
477,095 | ||||||||||||||||
|
|
|||||||||||||||
Independent Power & Renewable Electricity Producers 1.2% |
|
|||||||||||||||
Calpine Corp., Sr. Secd. Notes, 144A |
7.875 | % | 01/15/23 | 636 | 682,507 | |||||||||||
Calpine Corp., Sr. Unsecd. Notes |
5.375 | % | 01/15/23 | 250 | 244,375 | |||||||||||
Calpine Corp., Sr. Unsecd. Notes |
5.500 | % | 02/01/24 | 150 | 145,500 | |||||||||||
Dynegy, Inc., Gtd. Notes, 144A |
6.750 | % | 11/01/19 | 275 | 283,938 | |||||||||||
Dynegy, Inc., Gtd. Notes, 144A |
7.625 | % | 11/01/24 | 950 | 980,875 | |||||||||||
GenOn Energy, Inc., Sr. Unsecd. Notes |
7.875 | % | 06/15/17 | 150 | 151,125 | |||||||||||
GenOn Energy, Inc., Sr. Unsecd. Notes |
9.875 | % | 10/15/20 | 200 | 199,500 | |||||||||||
NRG Energy, Inc., Gtd. Notes |
6.250 | % | 07/15/22 | 250 | 250,625 | |||||||||||
NRG Energy, Inc., Gtd. Notes |
6.250 | % | 05/01/24 | 200 | 196,500 | |||||||||||
NRG Energy, Inc., Gtd. Notes |
6.625 | % | 03/15/23 | 50 | 50,750 | |||||||||||
NRG Energy, Inc., Gtd. Notes |
7.625 | % | 01/15/18 | 200 | 216,960 | |||||||||||
|
|
|||||||||||||||
3,402,655 | ||||||||||||||||
|
|
|||||||||||||||
Industrial Conglomerates 0.3% |
||||||||||||||||
Argos Merger Sub., Inc., Sr. Unsecd. Notes, 144A |
7.125 | % | 03/15/23 | 350 | 370,125 | |||||||||||
James Hardie International Finance Ltd. (Ireland), |
5.875 | % | 02/15/23 | 200 | 205,000 | |||||||||||
Votorantim Cimentos SA (Brazil), Gtd. Notes, RegS |
7.250 | % | 04/05/41 | 200 | 183,500 | |||||||||||
|
|
|||||||||||||||
758,625 | ||||||||||||||||
|
|
|||||||||||||||
Insurance |
||||||||||||||||
CNO Financial Group, Inc., Sr. Unsecd. Notes |
5.250 | % | 05/30/25 | 50 | 52,250 | |||||||||||
|
|
|||||||||||||||
Internet & Catalog Retail 0.1% |
||||||||||||||||
Ancestry.com, Inc., Gtd. Notes |
11.000 | % | 12/15/20 | 200 | 227,000 | |||||||||||
|
|
|||||||||||||||
IT Services |
||||||||||||||||
IHS, Inc., Gtd. Notes, 144A |
5.000 | % | 11/01/22 | 50 | 50,063 | |||||||||||
|
|
|||||||||||||||
Machinery 0.3% |
||||||||||||||||
ATS Automation Tooling Systems, Inc. (Canada), |
6.500 | % | 06/15/23 | 275 | 279,125 | |||||||||||
Case New Holland Industrial, Inc. (United Kingdom), Gtd. Notes |
7.875 | % | 12/01/17 | 150 | 165,375 | |||||||||||
Cleaver-Brooks, Inc., Sr. Secd. Notes, 144A |
8.750 | % | 12/15/19 | 75 | 71,250 | |||||||||||
CNH Industrial Capital LLC, Gtd. Notes, 144A |
3.875 | % | 07/16/18 | 150 | 151,125 | |||||||||||
Terex Corp., Gtd. Notes |
6.500 | % | 04/01/20 | 100 | 103,250 | |||||||||||
Vander Intermediate Holding II Corp., Sr. Unsecd. Notes, 144A |
9.750 | % | 02/01/19 | 25 | 22,812 | |||||||||||
|
|
|||||||||||||||
792,937 | ||||||||||||||||
|
|
Media 2.4% |
||||||||||||||||
AMC Entertainment, Inc., Gtd. Notes |
5.750 | % | 06/15/25 | 300 | 298,500 | |||||||||||
AMC Networks, Inc., Gtd. Notes |
7.750 | % | 07/15/21 | 200 | 216,000 | |||||||||||
Cable One, Inc., Gtd. Notes, 144A |
5.750 | % | 06/15/22 | 75 | 76,688 | |||||||||||
Carmike Cinemas, Inc., Secd. Notes, 144A |
6.000 | % | 06/15/23 | 75 | 76,500 | |||||||||||
CCO Safari II LLC, Sr. Secd. Notes, 144A |
5.000 | % | 07/23/25 | 150 | 150,332 | |||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp., Gtd. Notes |
5.750 | % | 01/15/24 | 250 | 254,531 | |||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp., |
5.125 | % | 05/01/23 | 75 | 74,250 | |||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp., |
5.375 | % | 05/01/25 | 50 | 49,250 | |||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp., |
5.875 | % | 05/01/27 | 425 | 421,016 | |||||||||||
Cequel Communications Holdings I LLC/Cequel Capital Corp., |
5.125 | % | 12/15/21 | 75 | 69,656 | |||||||||||
Cequel Communications Holdings I LLC/Cequel Capital Corp., |
5.125 | % | 12/15/21 | 305 | 283,269 | |||||||||||
Cequel Communications Holdings I LLC/Cequel Capital Corp., |
6.375 | % | 09/15/20 | 100 | 100,750 | |||||||||||
Cinemark USA, Inc., Gtd. Notes |
4.875 | % | 06/01/23 | 400 | 393,500 | |||||||||||
Clear Channel Worldwide Holdings, Inc., Gtd. Notes |
6.500 | % | 11/15/22 | 100 | 104,250 | |||||||||||
Clear Channel Worldwide Holdings, Inc., Gtd. Notes |
6.500 | % | 11/15/22 | 322 | 330,855 | |||||||||||
Clear Channel Worldwide Holdings, Inc., Gtd. Notes |
7.625 | % | 03/15/20 | 100 | 103,625 | |||||||||||
Columbus International, Inc. (Barbados), Gtd. Notes, RegS |
7.375 | % | 03/30/21 | 200 | 212,500 | |||||||||||
CSC Holdings LLC, Sr. Unsecd. Notes |
6.750 | % | 11/15/21 | 250 | 259,375 | |||||||||||
CSC Holdings LLC, Sr. Unsecd. Notes |
7.875 | % | 02/15/18 | 250 | 274,375 | |||||||||||
DISH DBS Corp., Gtd. Notes |
6.750 | % | 06/01/21 | 250 | 264,375 | |||||||||||
Entercom Radio LLC, Gtd. Notes |
10.500 | % | 12/01/19 | 200 | 213,000 | |||||||||||
Gray Television, Inc., Gtd. Notes |
7.500 | % | 10/01/20 | 100 | 105,875 | |||||||||||
Mediacom Broadband LLC/Mediacom Broadband Corp., |
6.375 | % | 04/01/23 | 155 | 154,225 | |||||||||||
Nielsen Finance LLC/Nielsen Finance Co., Gtd. Notes, 144A |
5.000 | % | 04/15/22 | 200 | 198,250 | |||||||||||
Quebecor Media, Inc. (Canada), Sr. Unsecd. Notes |
5.750 | % | 01/15/23 | 650 | 666,250 | |||||||||||
Sinclair Television Group, Inc., Gtd. Notes |
6.375 | % | 11/01/21 | 175 | 182,437 | |||||||||||
Sinclair Television Group, Inc., Gtd. Notes, 144A |
5.625 | % | 08/01/24 | 25 | 24,594 | |||||||||||
TEGNA, Inc., Gtd. Notes |
6.375 | % | 10/15/23 | 200 | 211,500 | |||||||||||
Tribune Media Co., Gtd. Notes, 144A |
5.875 | % | 07/15/22 | 300 | 309,750 | |||||||||||
Univision Communications, Inc., Sr. Secd. Notes, 144A |
5.125 | % | 02/15/25 | 250 | 250,625 | |||||||||||
VTR Finance BV (Chile), Sr. Secd. Notes, 144A |
6.875 | % | 01/15/24 | 200 | 203,500 | |||||||||||
|
|
|||||||||||||||
6,533,603 | ||||||||||||||||
|
|
|||||||||||||||
Metals & Mining 0.8% |
||||||||||||||||
AK Steel Corp., Gtd. Notes |
7.625 | % | 10/01/21 | 75 | 52,875 | |||||||||||
Alcoa, Inc., Sr. Unsecd. Notes |
5.125 | % | 10/01/24 | 200 | 201,000 | |||||||||||
ArcelorMittal (Luxembourg), Sr. Unsecd. Notes |
10.600 | % | 06/01/19 | 500 | 596,875 | |||||||||||
Commercial Metals Co., Sr. Unsecd. Notes |
4.875 | % | 05/15/23 | 400 | 366,000 | |||||||||||
Compass Minerals International, Inc., Gtd. Notes, 144A |
4.875 | % | 07/15/24 | 100 | 98,000 | |||||||||||
FMG Resources August 2006 Pty Ltd. (Australia), |
8.250 | % | 11/01/19 | 225 | 163,687 | |||||||||||
JMC Steel Group, Inc., Sr. Unsecd. Notes, 144A |
8.250 | % | 03/15/18 | 75 | 66,563 | |||||||||||
Lundin Mining Corp. (Canada), Sr. Secd. Notes, 144A |
7.500 | % | 11/01/20 | 150 | 152,250 |
Lundin Mining Corp. (Canada), Sr. Secd. Notes, 144A |
7.875 | % | 11/01/22 | 175 | 178,062 | |||||||||||
New Gold, Inc. (Canada), Gtd. Notes, 144A |
7.000 | % | 04/15/20 | 125 | 122,812 | |||||||||||
New Gold, Inc. (Canada), Sr. Unsecd. Notes, 144A |
6.250 | % | 11/15/22 | 50 | 44,500 | |||||||||||
Peabody Energy Corp., Secd. Notes, 144A |
10.000 | % | 03/15/22 | 75 | 38,063 | |||||||||||
Signode Industrial Group Lux SA/Signode Industrial Group US, Inc., Gtd. Notes, 144A |
6.375 | % | 05/01/22 | 125 | 122,188 | |||||||||||
|
|
|||||||||||||||
2,202,875 | ||||||||||||||||
|
|
|||||||||||||||
Oil, Gas & Consumable Fuels 1.0% |
||||||||||||||||
Bonanza Creek Energy, Inc., Gtd. Notes |
6.750 | % | 04/15/21 | 50 | 43,250 | |||||||||||
California Resources Corp., Gtd. Notes |
6.000 | % | 11/15/24 | 525 | 425,250 | |||||||||||
Endeavor Energy Resources LP/EER Finance, Inc., |
7.000 | % | 08/15/21 | 190 | 182,400 | |||||||||||
Endeavor Energy Resources LP/EER Finance, Inc., |
8.125 | % | 09/15/23 | 25 | 24,861 | |||||||||||
Halcon Resources Corp., Secd. Notes, 144A |
8.625 | % | 02/01/20 | 50 | 47,750 | |||||||||||
Hilcorp Energy I LP/Hilcorp Finance Co., |
5.750 | % | 10/01/25 | 150 | 142,500 | |||||||||||
Hilcorp Energy I LP/Hilcorp Finance Co., |
7.625 | % | 04/15/21 | 100 | 103,000 | |||||||||||
MEG Energy Corp. (Canada), Gtd. Notes, 144A |
6.375 | % | 01/30/23 | 50 | 44,500 | |||||||||||
MEG Energy Corp. (Canada), Gtd. Notes, 144A |
6.500 | % | 03/15/21 | 125 | 116,813 | |||||||||||
Memorial Resource Development Corp., Gtd. Notes |
5.875 | % | 07/01/22 | 175 | 164,937 | |||||||||||
Newfield Exploration Co., Sr. Unsecd. Notes |
5.375 | % | 01/01/26 | 75 | 72,000 | |||||||||||
Pacific Rubiales Energy Corp. (Colombia), Gtd. Notes, 144A |
5.375 | % | 01/26/19 | 200 | 142,000 | |||||||||||
Rice Energy, Inc., Gtd. Notes, 144A |
7.250 | % | 05/01/23 | 50 | 49,125 | |||||||||||
Sasol Financing International PLC (South Africa), Gtd. Notes |
4.500 | % | 11/14/22 | 200 | 201,000 | |||||||||||
Sunoco LP/Sunoco Finance Corp., Gtd. Notes, 144A |
5.500 | % | 08/01/20 | 100 | 101,750 | |||||||||||
Sunoco LP/Sunoco Finance Corp., Gtd. Notes, 144A |
6.375 | % | 04/01/23 | 125 | 128,438 | |||||||||||
Triangle USA Petroleum Corp., Gtd. Notes, 144A |
6.750 | % | 07/15/22 | 75 | 51,000 | |||||||||||
Western Refining, Inc., Gtd. Notes |
6.250 | % | 04/01/21 | 300 | 301,500 | |||||||||||
Whiting Canadian Holding Co. ULC, Gtd. Notes |
8.125 | % | 12/01/19 | 200 | 206,250 | |||||||||||
WPX Energy, Inc., Sr. Unsecd. Notes |
6.000 | % | 01/15/22 | 225 | 210,375 | |||||||||||
WPX Energy, Inc., Sr. Unsecd. Notes |
8.250 | % | 08/01/23 | 100 | 101,625 | |||||||||||
|
|
|||||||||||||||
2,860,324 | ||||||||||||||||
|
|
|||||||||||||||
Paper & Forest Products |
||||||||||||||||
Tembec Industries, Inc. (Canada), Sr. Secd. Notes, 144A |
9.000 | % | 12/15/19 | 150 | 121,500 | |||||||||||
|
|
|||||||||||||||
Pharmaceuticals 0.5% |
||||||||||||||||
Endo Finance LLC/Endo Ltd./Endo Finco, Inc, |
6.000 | % | 07/15/23 | 200 | 208,000 | |||||||||||
Grifols Worldwide Operations Ltd. (Spain), Gtd. Notes |
5.250 | % | 04/01/22 | 200 | 202,000 | |||||||||||
Quintiles Transnational Corp., Gtd. Notes, 144A |
4.875 | % | 05/15/23 | 75 | 76,078 | |||||||||||
Valeant Pharmaceuticals International, Inc., Gtd. Notes, 144A |
5.500 | % | 03/01/23 | 25 | 25,562 | |||||||||||
Valeant Pharmaceuticals International, Inc., Gtd. Notes, 144A |
6.125 | % | 04/15/25 | 700 | 731,500 | |||||||||||
Valeant Pharmaceuticals International, Inc., Gtd. Notes, 144A |
6.750 | % | 08/15/18 | 150 | 157,594 | |||||||||||
|
|
|||||||||||||||
1,400,734 | ||||||||||||||||
|
|
Real Estate Investment Trusts (REITs) 0.4% |
||||||||||||||||
Crown Castle International Corp., Sr. Unsecd. Notes |
5.250 | % | 01/15/23 | 175 | 183,312 | |||||||||||
CTR Partnership LP/CareTrust Capital Corp., Gtd. Notes |
5.875 | % | 06/01/21 | 125 | 127,500 | |||||||||||
DuPont Fabros Technology LP, Gtd. Notes |
5.875 | % | 09/15/21 | 250 | 256,875 | |||||||||||
ESH Hospitality, Inc., Gtd. Notes, 144A |
5.250 | % | 05/01/25 | 50 | 48,688 | |||||||||||
MPT Operating Partnership LP/MPT Finance Corp., Gtd. Notes |
6.375 | % | 02/15/22 | 200 | 212,750 | |||||||||||
RHP Hotel Properties LP/RHP Finance Corp., Gtd. Notes |
5.000 | % | 04/15/21 | 200 | 201,500 | |||||||||||
RHP Hotel Properties LP/RHP Finance Corp., |
5.000 | % | 04/15/23 | 50 | 49,750 | |||||||||||
Sabra Health Care LP/Sabra Capital Corp., Gtd. Notes |
5.375 | % | 06/01/23 | 50 | 51,625 | |||||||||||
|
|
|||||||||||||||
1,132,000 | ||||||||||||||||
|
|
|||||||||||||||
Real Estate Management & Development |
||||||||||||||||
Greystar Real Estate Partners LLC, Sr. Secd. Notes, 144A |
8.250 | % | 12/01/22 | 50 | 52,750 | |||||||||||
|
|
|||||||||||||||
Road & Rail 0.3% |
||||||||||||||||
OPE KAG Finance Sub, Inc., Sr. Unsecd. Notes, 144A |
7.875 | % | 07/31/23 | 200 | 203,000 | |||||||||||
XPO Logistics, Inc., Gtd. Notes, 144A |
6.500 | % | 06/15/22 | 250 | 245,938 | |||||||||||
XPO Logistics, Inc., Sr. Unsecd. Notes, 144A |
7.875 | % | 09/01/19 | 300 | 320,625 | |||||||||||
|
|
|||||||||||||||
769,563 | ||||||||||||||||
|
|
|||||||||||||||
Semiconductors & Semiconductor Equipment 0.7% |
||||||||||||||||
Freescale Semiconductor, Inc., Sr. Secd. Notes, 144A |
6.000 | % | 01/15/22 | 445 | 465,025 | |||||||||||
Micron Technology, Inc., Sr. Unsecd. Notes, 144A |
5.250 | % | 08/01/23 | 235 | 226,187 | |||||||||||
Micron Technology, Inc., Sr. Unsecd. Notes, 144A |
5.250 | % | 01/15/24 | 100 | 96,000 | |||||||||||
Micron Technology, Inc., Sr. Unsecd. Notes, 144A |
5.625 | % | 01/15/26 | 350 | 335,125 | |||||||||||
NXP BV/NXP Funding LLC (Netherlands), Gtd. Notes, 144A |
4.625 | % | 06/15/22 | 200 | 198,000 | |||||||||||
NXP BV/NXP Funding LLC (Netherlands), Gtd. Notes, 144A |
5.750 | % | 02/15/21 | 200 | 208,624 | |||||||||||
Sensata Technologies BV (Netherlands), Gtd. Notes, 144A |
5.000 | % | 10/01/25 | 325 | 318,500 | |||||||||||
|
|
|||||||||||||||
1,847,461 | ||||||||||||||||
|
|
|||||||||||||||
Software 1.6% |
||||||||||||||||
Audatex North America, Inc., Gtd. Notes, 144A |
6.000 | % | 06/15/21 | 350 | 357,438 | |||||||||||
Audatex North America, Inc., Gtd. Notes, 144A |
6.125 | % | 11/01/23 | 248 | 242,420 | |||||||||||
BMC Software Finance, Inc., Sr. Unsecd. Notes, 144A |
8.125 | % | 07/15/21 | 685 | 510,325 | |||||||||||
Emdeon, Inc., Gtd. Notes |
11.000 | % | 12/31/19 | 450 | 487,125 | |||||||||||
First Data Corp., Gtd. Notes |
10.625 | % | 06/15/21 | 100 | 111,500 | |||||||||||
First Data Corp., Gtd. Notes |
11.750 | % | 08/15/21 | 250 | 283,750 | |||||||||||
First Data Corp., Gtd. Notes |
12.625 | % | 01/15/21 | 1,275 | 1,475,812 | |||||||||||
Infor Software Parent LLC/Infor Software Parent, Inc., |
7.125 | % | 05/01/21 | 50 | 49,125 | |||||||||||
Infor US, Inc., Gtd. Notes, 144A (original cost $408,407; purchased 03/18/15 - 06/11/15)(b)(c) |
6.500 | % | 05/15/22 | 400 | 409,000 | |||||||||||
Italics Merger Sub., Inc., Sr. Unsecd. Notes, 144A |
7.125 | % | 07/15/23 | 150 | 147,375 | |||||||||||
Nuance Communications, Inc., Gtd. Notes, 144A |
5.375 | % | 08/15/20 | 150 | 152,250 | |||||||||||
Sophia LP/Sophia Finance, Inc., Gtd. Notes, 144A |
9.750 | % | 01/15/19 | 200 | 213,500 | |||||||||||
|
|
|||||||||||||||
4,439,620 | ||||||||||||||||
|
|
|||||||||||||||
Specialty Retail 0.9% |
||||||||||||||||
1011778 BC ULC/New Red Finance, Inc. (Canada), |
6.000 | % | 04/01/22 | 75 | 77,423 | |||||||||||
AmeriGas Finance LLC/AmeriGas Finance Corp., Gtd. Notes |
6.750 | % | 05/20/20 | 75 | 78,563 | |||||||||||
Caleres, Inc., Gtd. Notes, 144A |
6.250 | % | 08/15/23 | 125 | 126,250 |
Claires Stores, Inc., Sr. Secd. Notes, 144A |
9.000 | % | 03/15/19 | 100 | 86,625 | |||||||||||
CST Brands, Inc., Gtd. Notes |
5.000 | % | 05/01/23 | 200 | 199,000 | |||||||||||
Dollar Tree, Inc., Gtd. Notes, 144A |
5.750 | % | 03/01/23 | 175 | 184,625 | |||||||||||
Dufry Finance SCA (Switzerland), Gtd. Notes, 144A |
5.500 | % | 10/15/20 | 100 | 103,770 | |||||||||||
Ferrellgas LP/Ferrellgas Finance Corp., Gtd. Notes, 144A |
6.750 | % | 06/15/23 | 50 | 50,125 | |||||||||||
Ferrellgas Partners LP/Ferrellgas Partners Finance Corp., |
8.625 | % | 06/15/20 | 150 | 155,250 | |||||||||||
Landrys, Inc., Gtd. Notes, 144A |
9.375 | % | 05/01/20 | 342 | 366,795 | |||||||||||
Neiman Marcus Group Ltd. LLC, Gtd. Notes, 144A |
8.000 | % | 10/15/21 | 450 | 477,000 | |||||||||||
Petco Holdings, Inc., Sr. Unsecd. Notes, PIK, 144A |
8.500 | % | 10/15/17 | 300 | 308,062 | |||||||||||
PVH Corp., Sr. Unsecd. Notes |
4.500 | % | 12/15/22 | 200 | 201,500 | |||||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., |
7.375 | % | 08/01/21 | 30 | 32,175 | |||||||||||
|
|
|||||||||||||||
2,447,163 | ||||||||||||||||
|
|
|||||||||||||||
Technology Hardware, Storage & Peripherals 0.2% |
|
|||||||||||||||
Blue Coat Holdings, Inc., Sr. Unsecd. Notes, 144A |
8.375 | % | 06/01/23 | 175 | 178,938 | |||||||||||
CDW LLC/CDW Finance Corp., Gtd. Notes |
5.000 | % | 09/01/23 | 160 | 158,899 | |||||||||||
CDW LLC/CDW Finance Corp., Gtd. Notes |
5.500 | % | 12/01/24 | 250 | 251,250 | |||||||||||
Project Homestake Merger Corp., Gtd. Notes, 144A |
8.875 | % | 03/01/23 | 55 | 51,700 | |||||||||||
|
|
|||||||||||||||
640,787 | ||||||||||||||||
|
|
|||||||||||||||
Textiles, Apparel & Luxury Goods 0.2% |
||||||||||||||||
Levi Strauss & Co., Sr. Unsecd. Notes |
5.000 | % | 05/01/25 | 225 | 217,125 | |||||||||||
Springs Industries, Inc., Sr. Secd. Notes |
6.250 | % | 06/01/21 | 350 | 348,250 | |||||||||||
|
|
|||||||||||||||
565,375 | ||||||||||||||||
|
|
|||||||||||||||
Wireless Telecommunication Services 1.5% |
||||||||||||||||
Altice US Finance I Corp., Sr. Secd. Notes, 144A |
5.375 | % | 07/15/23 | 250 | 251,250 | |||||||||||
Altice US Finance II Corp., Sr. Secd. Notes, 144A |
7.750 | % | 07/15/25 | 200 | 198,500 | |||||||||||
Inmarsat Finance PLC (United Kingdom), Gtd. Notes, 144A |
4.875 | % | 05/15/22 | 175 | 171,938 | |||||||||||
Intelsat Jackson Holdings SA (Luxembourg), Gtd. Notes |
5.500 | % | 08/01/23 | 200 | 181,500 | |||||||||||
Intelsat Jackson Holdings SA (Luxembourg), Gtd. Notes |
7.250 | % | 04/01/19 | 200 | 198,250 | |||||||||||
Millicom International Cellular SA (Luxembourg), |
4.750 | % | 05/22/20 | 200 | 194,500 | |||||||||||
Sable International Finance Ltd. (United Kingdom), |
6.875 | % | 08/01/22 | 250 | 246,610 | |||||||||||
Sprint Communications, Inc., Gtd. Notes, 144A |
9.000 | % | 11/15/18 | 250 | 280,000 | |||||||||||
Sprint Corp., Gtd. Notes |
7.125 | % | 06/15/24 | 250 | 228,750 | |||||||||||
Sprint Corp., Gtd. Notes |
7.250 | % | 09/15/21 | 500 | 478,125 | |||||||||||
Sprint Corp., Gtd. Notes |
7.625 | % | 02/15/25 | 550 | 510,125 | |||||||||||
T-Mobile USA, Inc., Gtd. Notes |
6.625 | % | 04/01/23 | 250 | 266,250 | |||||||||||
Telecom Italia SpA (Italy), Sr. Unsecd. Notes, 144A |
5.303 | % | 05/30/24 | 200 | 201,000 | |||||||||||
UPCB Finance IV Ltd. (Netherlands), |
5.375 | % | 01/15/25 | 200 | 193,500 | |||||||||||
Vimpel Communications Via VIP Finance Ireland Ltd. OJSC (Russia), Sr. Unsecd. Notes, RegS |
9.125 | % | 04/30/18 | 100 | 109,000 | |||||||||||
Windstream Services LLC, Gtd. Notes |
7.875 | % | 11/01/17 | 231 | 233,887 | |||||||||||
Zayo Group LLC/Zayo Capital, Inc., Gtd. Notes, 144A |
6.375 | % | 05/15/25 | 320 | 316,400 | |||||||||||
|
|
|||||||||||||||
4,259,585 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL CORPORATE BONDS |
76,654,992 | |||||||||||||||
|
|
FOREIGN AGENCIES 3.0% |
||||||||||||||||
Banco de Costa Rica (Costa Rica), |
5.250 | % | 08/12/18 | 200 | 204,800 | |||||||||||
Banque Centrale de Tunisie SA (Tunisia), |
5.750 | % | 01/30/25 | 200 | 193,500 | |||||||||||
Brazil Loan Trust 1 (Brazil), Govt. Gtd. Notes, RegS |
5.477 | % | 07/24/23 | 140 | 136,211 | |||||||||||
Comision Federal de Electricidad (Mexico), |
5.750 | % | 02/14/42 | 200 | 196,750 | |||||||||||
Eskom Holdings SOC Ltd. (South Africa), |
5.750 | % | 01/26/21 | 200 | 194,320 | |||||||||||
Eskom Holdings SOC Ltd. (South Africa), |
7.125 | % | 02/11/25 | 200 | 202,120 | |||||||||||
Export Credit Bank of Turkey (Turkey), |
5.000 | % | 09/23/21 | 200 | 201,250 | |||||||||||
Gazprom OAO Via Gaz Capital SA (Russia), |
8.625 | % | 04/28/34 | 85 | 92,795 | |||||||||||
Gazprom OAO Via Gaz Capital SA (Russia), |
9.250 | % | 04/23/19 | 305 | 340,087 | |||||||||||
Georgian Railway JSC (Georgia), |
7.750 | % | 07/11/22 | 200 | 210,500 | |||||||||||
Kazakhstan Temir Zholy Finance BV (Kazakhstan), |
6.375 | % | 10/06/20 | 200 | 207,700 | |||||||||||
KazMunayGas National Co. JSC (Kazakhstan), |
5.750 | % | 04/30/43 | 550 | 434,566 | |||||||||||
KazMunayGas National Co. JSC (Kazakhstan), |
6.375 | % | 04/09/21 | 200 | 207,500 | |||||||||||
KazMunayGas National Co. JSC (Kazakhstan), |
7.000 | % | 05/05/20 | 450 | 479,250 | |||||||||||
KazMunayGas National Co. JSC (Kazakhstan), |
9.125 | % | 07/02/18 | 200 | 225,790 | |||||||||||
Majapahit Holding BV (Indonesia), Gtd. Notes, RegS |
7.750 | % | 01/20/20 | 700 | 804,160 | |||||||||||
Majapahit Holding BV (Indonesia), Gtd. Notes, RegS |
8.000 | % | 08/07/19 | 100 | 115,625 | |||||||||||
National Savings Bank (Sri Lanka), |
8.875 | % | 09/18/18 | 200 | 216,000 | |||||||||||
Pertamina Persero PT (Indonesia), |
6.500 | % | 05/27/41 | 200 | 197,240 | |||||||||||
Petroleos de Venezuela SA (Venezuela), |
6.000 | % | 05/16/24 | 200 | 66,480 | |||||||||||
Petroleos de Venezuela SA (Venezuela), |
8.500 | % | 11/02/17 | 1,080 | 736,020 | |||||||||||
Petroleos Mexicanos (Mexico), Gtd. Notes |
5.500 | % | 01/21/21 | 310 | 335,510 | |||||||||||
Petroleos Mexicanos (Mexico), Gtd. Notes |
5.500 | % | 06/27/44 | 240 | 222,000 | |||||||||||
Petroleos Mexicanos (Mexico), Gtd. Notes |
6.500 | % | 06/02/41 | 150 | 156,780 | |||||||||||
Russian Agricultural Bank OJSC Via RSHB Capital SA (Russia), |
6.299 | % | 05/15/17 | 100 | 101,350 | |||||||||||
Russian Agricultural Bank OJSC Via RSHB Capital SA (Russia), |
7.750 | % | 05/29/18 | 120 | 124,896 | |||||||||||
Sinopec Group Overseas Development 2012 Ltd. (China), |
3.900 | % | 05/17/22 | 200 | 204,935 | |||||||||||
Sinopec Group Overseas Development 2012 Ltd. (China), |
4.875 | % | 05/17/42 | 400 | 423,145 | |||||||||||
State Oil Co. of The Azerbaijan Republic (Azerbaijan), |
6.950 | % | 03/18/30 | 200 | 205,036 | |||||||||||
Three Gorges Finance I Cayman Islands Ltd. (China), |
3.700 | % | 06/10/25 | 200 | 203,579 | |||||||||||
Trade & Development Bank of Mongolia LLC (Mongolia), |
9.375 | % | 05/19/20 | 200 | 205,200 | |||||||||||
Vnesheconombank Via VEB Finance PLC (Russia), |
5.450 | % | 11/22/17 | 100 | 101,083 | |||||||||||
Vnesheconombank Via VEB Finance PLC (Russia), |
6.902 | % | 07/09/20 | 150 | 146,820 |
VTB Bank OJSC Via VTB Capital SA (Russia), Sr. Unsecd. Notes, RegS |
6.875 | % | 05/29/18 | 100 | 102,504 | |||||||||||
YPF SA (Argentina), Sr. Unsecd. Notes, RegS |
8.875 | % | 12/19/18 | 100 | 104,000 | |||||||||||
YPF SA (Argentina), Sr. Unsecd. Notes, 144A |
8.875 | % | 12/19/18 | 50 | 52,000 | |||||||||||
|
|
|||||||||||||||
TOTAL FOREIGN AGENCIES |
8,351,502 | |||||||||||||||
|
|
|||||||||||||||
FOREIGN GOVERNMENT BONDS 10.4% |
||||||||||||||||
Arab Republic of Egypt (Egypt), |
5.875 | % | 06/11/25 | 200 | 195,800 | |||||||||||
Argentina Boden Bonds (Argentina), Bonds |
7.000 | % | 10/03/15 | 850 | 844,286 | |||||||||||
Argentine Republic Government International Bond (Argentina), Sr. Unsecd. Notes(e) |
2.260 | % | 12/31/38 | EUR | 200 | 112,021 | ||||||||||
Argentine Republic Government International Bond (Argentina), Sr. Unsecd. Notes(e) |
2.500 | % | 12/31/38 | 180 | 104,760 | |||||||||||
Argentine Republic Government International Bond (Argentina), Sr. Unsecd. Notes(e) |
7.820 | % | 12/31/33 | EUR | 138 | 134,506 | ||||||||||
Argentine Republic Government International Bond (Argentina), Sr. Unsecd. Notes(e) |
8.280 | % | 12/31/33 | 631 | 604,103 | |||||||||||
Argentine Republic Government International Bond (Argentina), Sr. Unsecd. Notes(e) |
8.750 | % | 06/02/17 | 75 | 71,813 | |||||||||||
Brazil Government International Bond (Brazil), Sr. Unsecd. Notes |
8.250 | % | 01/20/34 | 318 | 381,600 | |||||||||||
Brazil Notas do Tesouro Nacional (Brazil), Notes |
10.000 | % | 01/01/21 | BRL | 498 | 129,930 | ||||||||||
Brazilian Government International Bond (Brazil), Sr. Unsecd. Notes |
5.625 | % | 01/07/41 | 150 | 138,750 | |||||||||||
City of Buenos Aires Argentina (Argentina), Sr. Unsecd. Notes, RegS |
8.950 | % | 02/19/21 | 200 | 204,500 | |||||||||||
Colombia Government International Bond (Colombia), Sr. Unsecd. Notes |
6.125 | % | 01/18/41 | 255 | 274,762 | |||||||||||
Colombia Government International Bond (Colombia), Sr. Unsecd. Notes |
7.375 | % | 09/18/37 | 220 | 269,500 | |||||||||||
Colombia Government International Bond (Colombia), Sr. Unsecd. Notes |
8.125 | % | 05/21/24 | 100 | 127,250 | |||||||||||
Costa Rica Government International Bond |
4.250 | % | 01/26/23 | 400 | 368,000 | |||||||||||
Costa Rica Government International Bond |
7.158 | % | 03/12/45 | 200 | 192,250 | |||||||||||
Croatia Government International Bond (Croatia), Sr. Unsecd. Notes, RegS |
6.375 | % | 03/24/21 | 300 | 322,875 | |||||||||||
Croatia Government International Bond (Croatia), Sr. Unsecd. Notes, RegS |
6.625 | % | 07/14/20 | 385 | 421,191 | |||||||||||
Croatia Government International Bond (Croatia), Sr. Unsecd. Notes, RegS |
6.750 | % | 11/05/19 | 400 | 440,000 | |||||||||||
Dominican Republic International Bond (Dominican Republic), Sr. Unsecd. Notes, RegS |
5.500 | % | 01/27/25 | 100 | 100,500 | |||||||||||
Dominican Republic International Bond (Dominican Republic), Sr. Unsecd. Notes, RegS |
5.875 | % | 04/18/24 | 200 | 208,500 | |||||||||||
Dominican Republic International Bond (Dominican Republic), Sr. Unsecd. Notes, RegS |
7.450 | % | 04/30/44 | 200 | 215,000 | |||||||||||
Dominican Republic International Bond (Dominican Republic), Sr. Unsecd. Notes, RegS |
7.500 | % | 05/06/21 | 620 | 692,850 | |||||||||||
Ecuador Government International Bond (Ecuador), Unsecd. Notes, RegS |
7.950 | % | 06/20/24 | 400 | 335,000 | |||||||||||
Egypt Government International Bond (Egypt), Sr. Unsecd. Notes, RegS |
6.875 | % | 04/30/40 | 100 | 96,020 | |||||||||||
El Salvador Government International Bond (El Salvador), Sr. Unsecd. Notes, RegS |
7.625 | % | 02/01/41 | 300 | 297,375 | |||||||||||
El Salvador Government International Bond (El Salvador), Sr. Unsecd. Notes, RegS |
7.750 | % | 01/24/23 | 300 | 321,750 |
Financing of Infrastructural Projects State Enterprise (Ukraine), Govt. Gtd. Notes, RegS(b) |
9.000 | % | 12/07/17 | 200 | 109,000 | |||||||||||
Gabonese Republic (Gabon), Bonds, RegS |
6.375 | % | 12/12/24 | 200 | 187,500 | |||||||||||
Gabonese Republic (Gabon), Bonds, RegS |
8.200 | % | 12/12/17 | 100 | 105,700 | |||||||||||
Guatemala Government Bond (Guatemala), Sr. Unsecd. Notes, RegS |
5.750 | % | 06/06/22 | 200 | 213,500 | |||||||||||
Hungary Government International Bond (Hungary), Sr. Unsecd. Notes |
5.375 | % | 02/21/23 | 466 | 507,670 | |||||||||||
Hungary Government International Bond (Hungary), Sr. Unsecd. Notes |
5.375 | % | 03/25/24 | 250 | 273,550 | |||||||||||
Hungary Government International Bond (Hungary), Sr. Unsecd. Notes |
5.750 | % | 11/22/23 | 200 | 223,120 | |||||||||||
Hungary Government International Bond (Hungary), Sr. Unsecd. Notes |
6.375 | % | 03/29/21 | 302 | 345,186 | |||||||||||
Hungary Government International Bond (Hungary), Sr. Unsecd. Notes |
7.625 | % | 03/29/41 | 318 | 427,195 | |||||||||||
Indonesia Government International Bond (Indonesia), Sr. Unsecd. Notes, RegS |
4.125 | % | 01/15/25 | 500 | 493,750 | |||||||||||
Indonesia Government International Bond (Indonesia), Sr. Unsecd. Notes, RegS |
6.750 | % | 01/15/44 | 320 | 372,800 | |||||||||||
Indonesia Government International Bond (Indonesia), Sr. Unsecd. Notes, RegS |
7.750 | % | 01/17/38 | 200 | 253,500 | |||||||||||
Indonesia Treasury Bond (Indonesia), |
8.375 | % | 03/15/34 | IDR | 1,000,000 | 70,708 | ||||||||||
Indonesia Treasury Bond (Indonesia), |
9.000 | % | 03/15/29 | IDR | 700,000 | 52,652 | ||||||||||
Ivory Coast Government International Bond (Cote Dlvoire), Sr. Unsecd. Notes, RegS |
5.750 | % | 12/31/32 | 250 | 229,472 | |||||||||||
Ivory Coast Government International Bond (Cote Dlvoire), Sr. Unsecd. Notes, 144A |
5.750 | % | 12/31/32 | 150 | 137,683 | |||||||||||
Ivory Coast Government International Bond (Cote Dlvoire), Sr. Unsecd. Notes, RegS |
6.375 | % | 03/03/28 | 200 | 191,950 | |||||||||||
Jamaica Government International Bond (Jamaica), Sr. Unsecd. Notes |
7.625 | % | 07/09/25 | 200 | 223,000 | |||||||||||
Kazakhstan Government International Bond (Kazakhstan), Unsecd. Notes, 144A |
6.500 | % | 07/21/45 | 200 | 198,700 | |||||||||||
Kenya Government International Bond (Kenya), Sr. Unsecd. Notes, RegS |
5.875 | % | 06/24/19 | 400 | 402,520 | |||||||||||
Lebanon Government International Bond (Lebanon), Sr. Unsecd. Notes, MTN |
5.450 | % | 11/28/19 | 20 | 20,170 | |||||||||||
Lebanon Government International Bond (Lebanon), Sr. Unsecd. Notes |
6.375 | % | 03/09/20 | 300 | 312,000 | |||||||||||
Lebanon Government International Bond (Lebanon), Sr. Unsecd. Notes, MTN |
6.600 | % | 11/27/26 | 200 | 204,760 | |||||||||||
Lebanon Government International Bond (Lebanon), Sr. Unsecd. Notes, RegS |
6.650 | % | 02/26/30 | 95 | 96,777 | |||||||||||
Lebanon Government International Bond (Lebanon), Sr. Unsecd. Notes, RegS |
8.250 | % | 04/12/21 | 420 | 474,432 | |||||||||||
Lithuania Government International Bond (Lithuania), Sr. Unsecd. Notes, RegS |
6.125 | % | 03/09/21 | 200 | 231,858 | |||||||||||
Lithuania Government International Bond (Lithuania), Sr. Unsecd. Notes, RegS |
6.625 | % | 02/01/22 | 200 | 239,750 | |||||||||||
Lithuania Government International Bond (Lithuania), Sr. Unsecd. Notes, RegS |
7.375 | % | 02/11/20 | 100 | 119,580 | |||||||||||
Mexican Bonos (Mexico), Bonds |
6.500 | % | 06/09/22 | MXN | 710 | 45,757 | ||||||||||
Mexico Government International Bond (Mexico), Sr. Unsecd. Notes |
6.050 | % | 01/11/40 | 100 | 115,500 | |||||||||||
Mexico Government International Bond (Mexico), Sr. Unsecd. Notes |
6.750 | % | 09/27/34 | 350 | 441,875 | |||||||||||
Mongolia Government International Bond (Mongolia), Sr. Unsecd. Notes, RegS |
4.125 | % | 01/05/18 | 200 | 188,000 | |||||||||||
Morocco Government International Bond (Morocco), Sr. Unsecd. Notes, RegS |
4.250 | % | 12/11/22 | 400 | 406,800 |
Nigeria Government International Bond (Nigeria), Bonds, RegS |
6.750 | % | 01/28/21 | 200 | 202,780 | |||||||||||
Pakistan Government International Bond (Pakistan), Sr. Unsecd. Notes, RegS |
6.875 | % | 06/01/17 | 200 | 207,855 | |||||||||||
Pakistan Government International Bond (Pakistan), Sr. Unsecd. Notes, RegS |
7.250 | % | 04/15/19 | 300 | 312,375 | |||||||||||
Panama Government International Bond (Panama), Sr. Unsecd. Notes |
4.300 | % | 04/29/53 | 250 | 222,500 | |||||||||||
Panama Government International Bond (Panama), Sr. Unsecd. Notes |
5.200 | % | 01/30/20 | 100 | 110,100 | |||||||||||
Panama Government International Bond (Panama), Sr. Unsecd. Notes |
6.700 | % | 01/26/36 | 100 | 125,000 | |||||||||||
Panama Government International Bond (Panama), Sr. Unsecd. Notes |
7.125 | % | 01/29/26 | 350 | 445,375 | |||||||||||
Panama Government International Bond (Panama), Sr. Unsecd. Notes |
9.375 | % | 04/01/29 | 100 | 149,750 | |||||||||||
Perusahaan Penerbit SBSN Indonesia III (Indonesia), Govt. Gtd. Notes, 144A |
4.325 | % | 05/28/25 | 200 | 196,250 | |||||||||||
Peruvian Government International Bond (Peru), Sr. Unsecd. Notes |
5.625 | % | 11/18/50 | 155 | 174,375 | |||||||||||
Peruvian Government International Bond (Peru), Sr. Unsecd. Notes |
6.550 | % | 03/14/37 | 450 | 561,375 | |||||||||||
Peruvian Government International Bond (Peru), Sr. Unsecd. Notes |
7.350 | % | 07/21/25 | 100 | 130,250 | |||||||||||
Philippine Government International Bond (Philippines), Sr. Unsecd. Notes |
3.950 | % | 01/20/40 | 200 | 205,000 | |||||||||||
Philippine Government International Bond (Philippines), Sr. Unsecd. Notes |
4.950 | % | 01/15/21 | PHP | 10,000 | 229,037 | ||||||||||
Philippine Government International Bond (Philippines), Sr. Unsecd. Notes |
6.375 | % | 01/15/32 | 200 | 263,000 | |||||||||||
Philippine Government International Bond (Philippines), Sr. Unsecd. Notes |
7.750 | % | 01/14/31 | 160 | 233,000 | |||||||||||
Poland Government International Bond (Poland), Sr. Unsecd. Notes |
5.000 | % | 03/23/22 | 525 | 586,451 | |||||||||||
Poland Government International Bond (Poland), Sr. Unsecd. Notes |
5.125 | % | 04/21/21 | 40 | 44,918 | |||||||||||
Republic of Angola Via Northern Lights III BV (Angola), Sr. Unsecd. Notes, RegS |
7.000 | % | 08/16/19 | 250 | 246,800 | |||||||||||
Republic of Armenia (Armenia), Sr. Unsecd. Notes, RegS |
6.000 | % | 09/30/20 | 200 | 197,230 | |||||||||||
Republic of Azerbaijan International Bond (Azerbaijan), Sr. Unsecd. Notes, RegS |
4.750 | % | 03/18/24 | 200 | 197,184 | |||||||||||
Republic of Belarus (Belarus), Sr. Unsecd. Notes, RegS |
8.950 | % | 01/26/18 | 200 | 200,720 | |||||||||||
Republic of Ghana (Ghana), Sr. Unsecd. Notes, RegS |
8.500 | % | 10/04/17 | 200 | 206,000 | |||||||||||
Republic of Ghana (Ghana), Unsecd. Notes, 144A |
8.125 | % | 01/18/26 | 200 | 185,350 | |||||||||||
Republic of Honduras (Honduras), |
8.750 | % | 12/16/20 | 200 | 227,500 | |||||||||||
Republic of Iraq (Iraq), Unsecd. Notes, RegS |
5.800 | % | 01/15/28 | 250 | 198,425 | |||||||||||
Republic of Serbia (Serbia), Bonds, RegS |
4.875 | % | 02/25/20 | 200 | 201,750 | |||||||||||
Republic of Serbia (Serbia), Sr. Unsecd. Notes, RegS |
7.250 | % | 09/28/21 | 200 | 225,000 | |||||||||||
Republic of Serbia (Serbia), Unsecd. Notes, RegS |
5.875 | % | 12/03/18 | 260 | 273,551 | |||||||||||
Romanian Government International Bond (Romania), Sr. Unsecd. Notes, RegS |
4.375 | % | 08/22/23 | 310 | 323,144 | |||||||||||
Romanian Government International Bond (Romania), Sr. Unsecd. Notes, RegS |
6.125 | % | 01/22/44 | 388 | 448,109 | |||||||||||
Romanian Government International Bond (Romania), Sr. Unsecd. Notes, RegS |
6.750 | % | 02/07/22 | 312 | 368,160 | |||||||||||
Russian Foreign Bond (Russia), Sr. Unsecd. Notes, RegS |
5.000 | % | 04/29/20 | 200 | 203,966 | |||||||||||
Russian Foreign Bond (Russia), Sr. Unsecd. Notes, RegS |
11.000 | % | 07/24/18 | 35 | 42,149 | |||||||||||
Russian Foreign Bond (Russia), |
12.750 | % | 06/24/28 | 190 | 293,550 |
Senegal Goverment International Bond (Senegal), |
8.750 | % | 05/13/21 | 200 | 223,328 | |||||||||||
Slovenia Government International Bond (Slovenia), Sr. Unsecd. Notes, RegS |
5.250 | % | 02/18/24 | 200 | 220,400 | |||||||||||
Slovenia Government International Bond (Slovenia), Sr. Unsecd. Notes, RegS |
5.500 | % | 10/26/22 | 200 | 224,500 | |||||||||||
South Africa Government International Bond |
6.250 | % | 03/08/41 | 100 | 114,320 | |||||||||||
Sri Lanka Government International Bond (Sri Lanka), Sr. Unsecd. Notes, RegS |
6.250 | % | 10/04/20 | 330 | 339,900 | |||||||||||
Sri Lanka Government International Bond (Sri Lanka), Sr. Unsecd. Notes, RegS |
6.250 | % | 07/27/21 | 230 | 234,312 | |||||||||||
Turkey Government International Bond (Turkey), |
5.625 | % | 03/30/21 | 300 | 321,564 | |||||||||||
Turkey Government International Bond (Turkey), |
6.000 | % | 01/14/41 | 200 | 209,000 | |||||||||||
Turkey Government International Bond (Turkey), |
6.750 | % | 04/03/18 | 200 | 219,960 | |||||||||||
Turkey Government International Bond (Turkey), |
6.750 | % | 05/30/40 | 100 | 114,000 | |||||||||||
Turkey Government International Bond (Turkey), |
7.000 | % | 06/05/20 | 170 | 192,831 | |||||||||||
Ukraine Government International Bond (Ukraine), |
6.250 | % | 06/17/16 | 200 | 115,904 | |||||||||||
Ukraine Government International Bond (Ukraine), |
7.750 | % | 09/23/20 | 200 | 115,040 | |||||||||||
Ukraine Government International Bond (Ukraine), |
9.250 | % | 07/24/17 | 200 | 117,580 | |||||||||||
Uruguay Government International Bond (Uruguay), Sr. Unsecd. Notes |
4.500 | % | 08/14/24 | 280 | 295,400 | |||||||||||
Uruguay Government International Bond (Uruguay), Sr. Unsecd. Notes |
5.100 | % | 06/18/50 | 155 | 148,800 | |||||||||||
Uruguay Government International Bond (Uruguay), Sr. Unsecd. Notes |
7.625 | % | 03/21/36 | 300 | 400,125 | |||||||||||
Venezuela Government International Bond (Venezuela), Sr. Unsecd. Notes, RegS |
7.000 | % | 03/31/38 | 620 | 213,125 | |||||||||||
Venezuela Government International Bond (Venezuela), Sr. Unsecd. Notes, RegS |
7.750 | % | 10/13/19 | 550 | 203,500 | |||||||||||
Venezuela Government International Bond (Venezuela), Sr. Unsecd. Notes, RegS |
9.000 | % | 05/07/23 | 100 | 36,500 | |||||||||||
Vietnam Government International Bond (Vietnam), |
6.750 | % | 01/29/20 | 420 | 466,200 | |||||||||||
Zambia Government International Bond (Zambia), |
8.500 | % | 04/14/24 | 200 | 190,500 | |||||||||||
Zambia Government International Bond (Zambia), Unsecd. Notes, RegS |
5.375 | % | 09/20/22 | 200 | 168,876 | |||||||||||
|
|
|||||||||||||||
TOTAL FOREIGN GOVERNMENT BONDS |
28,844,951 | |||||||||||||||
|
|
|||||||||||||||
CONVERTIBLE BONDS 0.5% |
||||||||||||||||
BAC United Continental Holdings, Notes, 144A (original cost $238,551; purchased 01/30/15)(b)(c) |
9.500 | % | 08/06/15 | 338 | 191,949 | |||||||||||
GS Endo International, Inc., Sr. Unsecd. Notes, 144A (original cost $496,422; purchased 03/23/15)(b)(c) |
5.300 | % | 09/30/15 | 541 | 474,451 | |||||||||||
RBC Air Canada (Canada), Sr. Unsecd. Notes, 144A (original cost $279,344; purchased 03/24/15)(b)(c) |
7.995 | % | 10/01/15 | CAD | 2,796 | 253,113 | ||||||||||
WFC United Continental, Sr. Unsecd. Notes, 144A (original cost $448,016; purchased 04/30/15)(b)(c) |
7.440 | % | 11/04/15 | 752 | 427,738 | |||||||||||
|
|
|||||||||||||||
TOTAL CONVERTIBLE BONDS |
1,347,251 | |||||||||||||||
|
|
U.S. TREASURY OBLIGATIONS 1.0% |
||||||||||||||||
U.S. Treasury Notes |
1.500 | %(f) | 01/31/22 | 1,500 | 1,464,141 | |||||||||||
U.S. Treasury Notes |
2.250 | % | 11/15/24 | 1,350 | 1,356,645 | |||||||||||
|
|
|||||||||||||||
TOTAL U.S. TREASURY OBLIGATIONS |
2,820,786 | |||||||||||||||
|
|
|||||||||||||||
Shares | ||||||||||||||||
AFFILIATED MUTUAL FUNDS 3.5% |
||||||||||||||||
Prudential Government Income Fund (Class Z) |
71,211 | 682,202 | ||||||||||||||
Prudential Short Duration High Yield Income Fund |
895,355 | 8,335,757 | ||||||||||||||
Prudential Short-Term Corporate Bond Fund, Inc. |
63,246 | 706,456 | ||||||||||||||
|
|
|||||||||||||||
TOTAL AFFILIATED MUTUAL FUNDS |
9,724,415 | |||||||||||||||
|
|
|||||||||||||||
TOTAL LONG-TERM INVESTMENTS |
266,661,512 | |||||||||||||||
|
|
|||||||||||||||
SHORT-TERM INVESTMENT 4.8% |
||||||||||||||||
AFFILIATED MONEY MARKET MUTUAL FUND |
||||||||||||||||
Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund |
13,334,641 | 13,334,641 | ||||||||||||||
|
|
|||||||||||||||
TOTAL INVESTMENTS 101.2% |
279,996,153 | |||||||||||||||
Liabilities in excess of other assets(i) (1.2)% |
(3,435,276 | ) | ||||||||||||||
|
|
|||||||||||||||
NET ASSETS 100.0% |
$ | 276,560,877 | ||||||||||||||
|
|
The following abbreviations are used in the portfolio descriptions:
144A | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. | |
RegS | Regulation S. Security was purchased pursuant to Regulation S and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. | |
ADR | American Depositary Receipt | |
CVT | Convertible Security | |
ETF | Exchange Traded Fund | |
MLP | Master Limited Partnership | |
PIK | Payment-in-Kind | |
REIT | Real Estate Investment Trust | |
SPDR | Standard & Poors Depository Receipts | |
BRL | Brazilian Real | |
CHF | Swiss Franc | |
CLP | Chilean Peso | |
COP | Colombian Peso | |
EUR | Euro | |
HUF | Hungarian Forint | |
IDR | Indonesian Rupiah | |
ILS | Israeli Shekel | |
INR | Indian Rupee | |
JPY | Japanese Yen | |
MXN | Mexican Peso | |
PEN | Peruvian Nuevo Sol |
PHP | Philippine Peso | |
PLN | Polish Zloty | |
RUB | Russian Ruble | |
SGD | Singapore Dollar | |
THB | Thai Baht | |
TWD | New Taiwanese Dollar | |
ZAR | South African Rand |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
(a) | Non-income producing security. |
(b) | Indicates a security or securities that has been deemed illiquid. |
(c) | Indicates a restricted security; the aggregate original cost of the restricted securities is $8,024,390. The aggregate value of $7,736,275 is approximately 2.8% of net assets. |
(d) | Variable rate instrument. The interest rate shown reflects the rate in effect at July 31, 2015. |
(e) | Represents issuer in default on interest payments. Non-income producing security. Such securities may be post maturity. |
(f) | Represents security, or a portion thereof, segregated as collateral for futures contracts. |
(g) | Prudential Investments LLC, the manager of the Fund, also serves as manager of the underlying funds in which the Fund invests. |
(h) | The United States federal income tax basis of investments and net unrealized depreciation were as follows: |
Tax Basis |
$ | 283,662,651 | ||
|
|
|||
Appreciation |
4,998,341 | |||
Depreciation |
(8,664,839 | ) | ||
|
|
|||
Net Unrealized Depreciation |
$ | (3,666,498 | ) | |
|
|
The book basis may differ from tax basis due to certain tax-related adjustments.
(i) | Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end: |
Futures contracts outstanding at July 31, 2015:
Number of |
Type |
Expiration |
Value at Trade Date |
Value at July 31, 2015 |
Unrealized Appreciation(1)(2) |
|||||||||||
Long Position: |
||||||||||||||||
15 | 10 Year U.S. Treasury Notes |
Sep. 2015 | $ | 1,882,500 | $ | 1,911,563 | $ | 29,063 | ||||||||
|
|
(1) | A U.S. Treasury security with a market value of $107,370 has been segregated with Citigroup Global Markets to cover requirements for open futures contracts at July 31, 2015. |
(2) | The amount represents fair value of derivative instruments subject to interest rate contracts risk exposure as of July 31, 2015. |
Forward foreign currency exchange contracts outstanding at July 31, 2015:
Purchase Contracts |
Counterparty |
Notional Amount (000) |
Value at Settlement Date |
Current Value |
Unrealized Appreciation (Depreciation)(1) |
|||||||||||||||||
Brazilian Real, |
||||||||||||||||||||||
Expiring 08/10/15 |
Citigroup Global Markets | BRL | 61 | $ | 18,903 | $ | 17,858 | $ | (1,045 | ) |
Chilean Peso, |
||||||||||||||||||||||
Expiring 08/07/15 |
Barclays Capital Group | CLP | 37,696 | 59,486 | 55,873 | (3,613 | ) | |||||||||||||||
Colombian Peso, |
||||||||||||||||||||||
Expiring 08/14/15 |
Barclays Capital Group | COP | 289,912 | 116,994 | 100,608 | (16,386 | ) | |||||||||||||||
Expiring 08/14/15 |
Barclays Capital Group | COP | 144,646 | 50,500 | 50,196 | (304 | ) | |||||||||||||||
Expiring 08/14/15 |
Credit Suisse First Boston Corp. | COP | 236,592 | 93,886 | 82,104 | (11,782 | ) | |||||||||||||||
Euro, |
||||||||||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 207 | 226,699 | 227,844 | 1,145 | ||||||||||||||||
Hungarian Forint, |
||||||||||||||||||||||
Expiring 10/22/15 |
JPMorgan Chase | HUF | 24,541 | 85,984 | 87,628 | 1,644 | ||||||||||||||||
Indian Rupee, |
||||||||||||||||||||||
Expiring 08/11/15 |
UBS AG | INR | 2,391 | 36,953 | 37,205 | 252 | ||||||||||||||||
Expiring 10/09/15 |
UBS AG | INR | 7,232 | 112,369 | 111,261 | (1,108 | ) | |||||||||||||||
Israeli Shekel, |
||||||||||||||||||||||
Expiring 10/20/15 |
Citigroup Global Markets | ILS | 1,650 | 430,793 | 437,717 | 6,924 | ||||||||||||||||
Japanese Yen, |
||||||||||||||||||||||
Expiring 10/28/15 |
Barclays Capital Group | JPY | 14,225 | 115,000 | 114,921 | (79 | ) | |||||||||||||||
Expiring 10/28/15 |
Credit Suisse First Boston Corp. | JPY | 17,772 | 143,450 | 143,583 | 133 | ||||||||||||||||
Mexican Peso, |
||||||||||||||||||||||
Expiring 10/22/15 |
Citigroup Global Markets | MXN | 6,000 | 372,723 | 369,928 | (2,795 | ) | |||||||||||||||
Polish Zloty, |
||||||||||||||||||||||
Expiring 10/23/15 |
Citigroup Global Markets | PLN | 2,403 | 632,813 | 635,584 | 2,771 | ||||||||||||||||
Russian Ruble, |
||||||||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | RUB | 5,861 | 106,201 | 94,814 | (11,387 | ) | |||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | RUB | 5,762 | 102,886 | 93,207 | (9,679 | ) | |||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | RUB | 3,831 | 68,084 | 61,979 | (6,105 | ) | |||||||||||||||
South African Rand, |
||||||||||||||||||||||
Expiring 10/20/15 |
Deutsche Bank AG | ZAR | 1,742 | 135,082 | 135,714 | 632 | ||||||||||||||||
Swiss Franc, |
||||||||||||||||||||||
Expiring 10/28/15 |
Barclays Capital Group | CHF | 263 | 279,136 | 273,394 | (5,742 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
$ | 3,187,942 | $ | 3,131,418 | (56,524 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Sale Contracts |
Counterparty |
Notional Amount (000) |
Value at Settlement Date |
Current Value |
Unrealized Appreciation (Depreciation)(1) |
|||||||||||||||||
Brazilian Real, |
||||||||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 384 | $ | 115,000 | $ | 111,679 | $ | 3,321 | |||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 378 | 110,838 | 109,934 | 904 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 355 | 109,934 | 103,354 | 6,580 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 349 | 108,318 | 101,472 | 6,846 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 129 | 40,162 | 37,675 | 2,487 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 125 | 38,484 | 36,337 | 2,147 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | BRL | 107 | 33,027 | 31,146 | 1,881 | ||||||||||||||||
Expiring 08/10/15 |
BNP Paribas | BRL | 474 | 143,277 | 137,890 | 5,387 | ||||||||||||||||
Expiring 08/10/15 |
BNP Paribas | BRL | 139 | 43,017 | 40,386 | 2,631 | ||||||||||||||||
Expiring 08/10/15 |
Citigroup Global Markets | BRL | 264 | 82,461 | 76,733 | 5,728 | ||||||||||||||||
Expiring 08/10/15 |
Credit Suisse First Boston Corp. | BRL | 174 | 52,439 | 50,528 | 1,911 | ||||||||||||||||
Expiring 08/10/15 |
Toronto Dominion | BRL | 344 | 108,133 | 100,166 | 7,967 | ||||||||||||||||
Expiring 09/02/15 |
Barclays Capital Group | BRL | 392 | 113,358 | 112,957 | 401 | ||||||||||||||||
Expiring 09/03/15 |
Credit Suisse First Boston Corp. | BRL | 383 | 112,416 | 110,556 | 1,860 |
Chilean Peso, |
||||||||||||||||||||||
Expiring 08/07/15 |
Citigroup Global Markets | CLP | 141,640 | 218,159 | 209,938 | 8,221 | ||||||||||||||||
Expiring 08/07/15 |
Citigroup Global Markets | CLP | 71,750 | 109,542 | 106,348 | 3,194 | ||||||||||||||||
Expiring 08/07/15 |
Credit Suisse First Boston Corp. | CLP | 71,416 | 110,134 | 105,853 | 4,281 | ||||||||||||||||
Expiring 08/07/15 |
JPMorgan Chase | CLP | 117,066 | 189,611 | 173,515 | 16,096 | ||||||||||||||||
Expiring 09/03/15 |
Credit Suisse First Boston Corp. | CLP | 34,003 | 50,509 | 50,264 | 245 | ||||||||||||||||
Colombian Peso, |
||||||||||||||||||||||
Expiring 08/14/15 |
Barclays Capital Group | COP | 280,606 | 108,889 | 97,378 | 11,511 | ||||||||||||||||
Expiring 08/14/15 |
Barclays Capital Group | COP | 125,128 | 48,735 | 43,423 | 5,312 | ||||||||||||||||
Expiring 08/14/15 |
Citigroup Global Markets | COP | 289,912 | 119,073 | 100,608 | 18,465 | ||||||||||||||||
Expiring 08/14/15 |
Credit Suisse First Boston Corp. | COP | 264,808 | 103,319 | 91,896 | 11,423 | ||||||||||||||||
Expiring 08/14/15 |
Credit Suisse First Boston Corp. | COP | 254,628 | 98,875 | 88,363 | 10,512 | ||||||||||||||||
Expiring 08/14/15 |
JPMorgan Chase | COP | 111,464 | 43,524 | 38,681 | 4,843 | ||||||||||||||||
Euro, |
||||||||||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 633 | 691,033 | 696,466 | (5,433 | ) | |||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 395 | 435,914 | 434,696 | 1,218 | ||||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 388 | 426,782 | 426,959 | (177 | ) | |||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 279 | 303,428 | 306,819 | (3,391 | ) | |||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 203 | 224,871 | 223,241 | 1,630 | ||||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | EUR | 101 | 112,244 | 111,071 | 1,173 | ||||||||||||||||
Expiring 10/28/15 |
Credit Suisse First Boston Corp. | EUR | 400 | 435,376 | 439,422 | (4,046 | ) | |||||||||||||||
Indonesian Rupiah, |
||||||||||||||||||||||
Expiring 10/08/15 |
Credit Suisse First Boston Corp. | IDR | 745,808 | 54,839 | 54,349 | 490 | ||||||||||||||||
Israeli New Shekel, |
||||||||||||||||||||||
Expiring 10/20/15 |
BNP Paribas | ILS | 1,650 | 432,551 | 437,717 | (5,166 | ) | |||||||||||||||
Expiring 10/20/15 |
Citigroup Global Markets | ILS | 837 | 220,000 | 222,004 | (2,004 | ) | |||||||||||||||
Japanese Yen, |
||||||||||||||||||||||
Expiring 10/28/15 |
Citigroup Global Markets | JPY | 35,557 | 287,627 | 287,263 | 364 | ||||||||||||||||
New Taiwanese Dollar, |
||||||||||||||||||||||
Expiring 10/26/15 |
UBS AG | TWD | 20,372 | 652,268 | 645,964 | 6,304 | ||||||||||||||||
Peruvian Nuevo Sol, |
||||||||||||||||||||||
Expiring 09/10/15 |
JPMorgan Chase | PEN | 673 | 210,135 | 209,526 | 609 | ||||||||||||||||
Expiring 12/02/15 |
Barclays Capital Group | PEN | 296 | 91,000 | 91,060 | (60 | ) | |||||||||||||||
Philippine Peso, |
||||||||||||||||||||||
Expiring 08/11/15 |
Citigroup Global Markets | PHP | 5,335 | 119,107 | 116,569 | 2,538 | ||||||||||||||||
Expiring 08/11/15 |
UBS AG | PHP | 5,404 | 120,814 | 118,080 | 2,734 |
Russian Ruble, |
||||||||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | RUB | 4,833 | 87,747 | 78,182 | 9,565 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | RUB | 4,675 | 84,669 | 75,621 | 9,048 | ||||||||||||||||
Expiring 08/10/15 |
Barclays Capital Group | RUB | 3,018 | 50,126 | 48,814 | 1,312 | ||||||||||||||||
Singapore Dollar, |
||||||||||||||||||||||
Expiring 10/26/15 |
Credit Suisse First Boston Corp. | SGD | 196 | 143,404 | 142,758 | 646 | ||||||||||||||||
South African Rand, |
||||||||||||||||||||||
Expiring 10/23/15 |
Citigroup Global Markets | ZAR | 2,397 | 191,000 | 186,652 | 4,348 | ||||||||||||||||
Expiring 10/23/15 |
JPMorgan Chase | ZAR | 8,240 | 655,655 | 641,641 | 14,014 | ||||||||||||||||
Swiss Franc, |
||||||||||||||||||||||
Expiring 10/28/15 |
Credit Suisse First Boston Corp. | CHF | 469 | 489,677 | 487,093 | 2,584 | ||||||||||||||||
Thai Baht, |
||||||||||||||||||||||
Expiring 10/22/15 |
Barclays Capital Group | THB | 36,934 | 1,063,460 | 1,045,086 | 18,374 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
$ | 9,994,961 | $ | 9,794,133 | 200,828 | ||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
$ | 144,304 | |||||||||||||||||||||
|
|
(1) | The amount represents fair value of derivative instruments subject to foreign exchange contracts risk exposure as of July 31, 2015. |
Cross currency exchange contracts outstanding at July 31, 2015:
Settlement |
Type |
Notional Amount (000) |
In Exchange for (000) |
Unrealized Appreciation(1) |
Counterparty | |||||||||||||||||||
10/23/15 |
Buy | EUR | 195 | PLN | 806 | $ | 1,214 | Deutsche Bank AG | ||||||||||||||||
|
|
(1) | The amount represents fair value of derivative instruments subject to foreign exchange contracts risk exposure as of July 31, 2015. |
Credit default swap agreements outstanding at July 31, 2015:
Reference Entity/Obligation |
Termination Date |
Fixed Rate |
Notional Amount (000)#(3) |
Fair Value(4)(5) |
Upfront Premiums Paid (Received) |
Unrealized Appreciation(1) |
Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on credit indicesSell Protection(2): | ||||||||||||||||||||||||||
CDX.EM.22.V1 |
12/20/19 | 1.000% | 3,700 | $ | (393,932 | ) | $ | (417,466 | ) | $ | 23,534 | Deutsche Bank AG | ||||||||||||||
CDX.EM.22.V1 |
12/20/19 | 1.000% | 1,800 | (191,643 | ) | (220,742 | ) | 29,099 | Barclays Capital Group | |||||||||||||||||
CDX.EM.22.V1 |
12/20/19 | 1.000% | 3,000 | (319,404 | ) | (347,000 | ) | 27,596 | Citigroup Global Markets | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||
$ | (904,979 | ) | $ | (985,208 | ) | $ | 80,229 | |||||||||||||||||||
|
|
|
|
|
|
(1) | Cash of $430,000 has been segregated with Deutsche Bank AG to cover requirements for open credit default swap contracts at July 31, 2015. |
Reference Entity/Obligation |
Termination Date |
Fixed Rate |
Notional Amount (000)#(3) |
Value at Trade Date |
Value
at July 31, 2015(4) |
Unrealized Depreciation(5) |
||||||||||||||||||
Exchange-traded credit default swaps on credit indicesSell Protection(2): |
| |||||||||||||||||||||||
CDX.NA.HY.24.V1 |
06/20/20 | 5.000% | 4,356 | $ | 312,169 | $ | 296,857 | $ | (15,312 | ) | ||||||||||||||
|
|
|
|
|
|
Cash of $310,000 has been segregated with Citigroup Global Markets to cover requirements for open exchange-traded credit default swap contracts at July 31, 2015.
The Portfolio entered into credit default swaps (CDS) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuers default or the reference entitys credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contracts rises the more the credit deteriorates. The value of the CDS contracts increases for the protection buyer if the spread increases.
(2) | If the Portfolio is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | The fair value of credit default swap agreements on credit indices serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, represents a deterioration of the referenced entitys credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
(5) | The amount represents fair value of derivative instruments subject to credit contracts risk exposure as of July 31, 2015. |
Various inputs are used in determining the value of the Funds investments. These inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices generally in active markets for identical securities.
Level 2 - quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.
Level 3 - unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.
The following is a summary of the inputs used as of July 31, 2015 in valuing such portfolio securities:
Level 1 | Level 2 | Level 3 | ||||||||||
Investments in Securities |
||||||||||||
Common Stocks |
$ | 89,515,259 | $ | 7,226,934 | $ | | ||||||
Exchange Traded Funds |
33,454,980 | | | |||||||||
Preferred Stocks |
8,720,442 | | | |||||||||
Corporate Bonds |
| 76,408,382 | 246,610 | |||||||||
Foreign Agencies |
| 8,351,502 | | |||||||||
Foreign Government Bonds |
| 28,844,951 | | |||||||||
Convertible Bonds |
| | 1,347,251 | |||||||||
U.S. Treasury Obligations |
| 2,820,786 | | |||||||||
Affiliated Mutual Funds |
9,724,415 | | | |||||||||
Affiliated Money Market Mutual Fund |
13,334,641 | | | |||||||||
Other Financial Instruments* |
||||||||||||
Futures Contracts |
29,063 | | | |||||||||
Forward Foreign Currency Exchange Contracts |
| 144,304 | | |||||||||
Cross Currency Exchange Contracts |
| 1,214 | | |||||||||
Over-the-counter credit default swaps |
| (904,979 | ) | | ||||||||
Exchange-traded credit default swaps |
| (15,312 | ) | | ||||||||
|
|
|
|
|
|
|||||||
Total |
$ | 154,778,800 | $ | 122,877,782 | $ | 1,593,861 | ||||||
|
|
|
|
|
|
* | Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and exchange-traded swap contracts, which are recorded at the unrealized appreciation/depreciation on the instrument, and over-the-counter swap contracts which are recorded at fair value. |
Prudential Defensive Equity Fund
Schedule of Investments
as of July 31, 2015 (Unaudited)
Shares | Value | |||||||||||||
LONG-TERM INVESTMENTS 95.5% |
| |||||||||||||
COMMON STOCKS 95.5% |
||||||||||||||
Aerospace & Defense 0.9% |
||||||||||||||
Boeing Co. (The) |
2,910 | $ | 419,535 | |||||||||||
General Dynamics Corp. |
1,420 | 211,736 | ||||||||||||
Honeywell International, Inc. |
3,540 | 371,877 | ||||||||||||
L-3 Communications Holdings, Inc. |
370 | 42,720 | ||||||||||||
Lockheed Martin Corp. |
1,210 | 250,591 | ||||||||||||
Northrop Grumman Corp. |
880 | 152,249 | ||||||||||||
Precision Castparts Corp. |
630 | 122,800 | ||||||||||||
Raytheon Co. |
1,420 | 154,908 | ||||||||||||
Rockwell Collins, Inc. |
600 | 50,772 | ||||||||||||
Textron, Inc. |
1,200 | 52,440 | ||||||||||||
United Technologies Corp. |
3,750 | 376,162 | ||||||||||||
|
|
|||||||||||||
2,205,790 | ||||||||||||||
|
|
|||||||||||||
Air Freight & Logistics 0.2% |
||||||||||||||
C.H. Robinson Worldwide, Inc. |
700 | 49,105 | ||||||||||||
Expeditors International of Washington, Inc. |
800 | 37,496 | ||||||||||||
FedEx Corp. |
1,200 | 205,704 | ||||||||||||
United Parcel Service, Inc. (Class B Stock) |
3,200 | 327,552 | ||||||||||||
|
|
|||||||||||||
619,857 | ||||||||||||||
|
|
|||||||||||||
Airlines 0.2% |
||||||||||||||
American Airlines Group, Inc. |
3,100 | 124,310 | ||||||||||||
Delta Air Lines, Inc. |
3,700 | 164,058 | ||||||||||||
Southwest Airlines Co. |
3,000 | 108,600 | ||||||||||||
|
|
|||||||||||||
396,968 | ||||||||||||||
|
|
|||||||||||||
Auto Components 0.1% |
||||||||||||||
BorgWarner, Inc. |
860 | 42,751 | ||||||||||||
Delphi Automotive PLC (United Kingdom) |
1,100 | 85,888 | ||||||||||||
Goodyear Tire & Rubber Co. (The) |
1,000 | 30,130 | ||||||||||||
Johnson Controls, Inc. |
2,500 | 113,900 | ||||||||||||
|
|
|||||||||||||
272,669 | ||||||||||||||
|
|
|||||||||||||
Automobiles 0.2% |
||||||||||||||
Ford Motor Co. |
14,900 | 220,967 | ||||||||||||
General Motors Co. |
5,000 | 157,550 | ||||||||||||
Harley-Davidson, Inc. |
800 | 46,640 | ||||||||||||
|
|
|||||||||||||
425,157 | ||||||||||||||
|
|
|||||||||||||
Banks 7.1% |
||||||||||||||
Bank of America Corp. |
159,000 | 2,842,920 | ||||||||||||
BB&T Corp. |
11,100 | 446,997 | ||||||||||||
Citigroup, Inc. |
46,000 | 2,689,160 | ||||||||||||
Comerica, Inc. |
2,800 | 132,804 | ||||||||||||
Fifth Third Bancorp |
12,400 | 261,268 | ||||||||||||
Huntington Bancshares, Inc. |
12,700 | 148,209 | ||||||||||||
JPMorgan Chase & Co. |
56,200 | 3,851,386 | ||||||||||||
KeyCorp |
13,100 | 194,404 | ||||||||||||
M&T Bank Corp. |
2,050 | 268,857 | ||||||||||||
Peoples United Financial, Inc. |
5,000 | 81,350 | ||||||||||||
PNC Financial Services Group, Inc. (The) |
7,900 | 775,622 | ||||||||||||
Regions Financial Corp. |
20,700 | 215,073 | ||||||||||||
SunTrust Banks, Inc. |
7,900 | 350,286 | ||||||||||||
U.S. Bancorp |
26,900 | 1,216,149 | ||||||||||||
Wells Fargo & Co. |
70,900 | 4,102,983 | ||||||||||||
Zions Bancorporation |
3,200 | 99,808 | ||||||||||||
|
|
|||||||||||||
17,677,276 | ||||||||||||||
|
|
Beverages 3.5% |
||||||||||||||
Brown-Forman Corp. (Class B Stock) |
3,440 | 372,930 | ||||||||||||
Coca-Cola Co. (The) |
85,600 | 3,516,448 | ||||||||||||
Coca-Cola Enterprises, Inc. |
4,700 | 240,076 | ||||||||||||
Constellation Brands, Inc. (Class A Stock) |
3,740 | 448,875 | ||||||||||||
Dr. Pepper Snapple Group, Inc. |
4,200 | 336,924 | ||||||||||||
Molson Coors Brewing Co. (Class B Stock) |
3,500 | 248,990 | ||||||||||||
Monster Beverage Corp.* |
3,240 | 497,502 | ||||||||||||
PepsiCo, Inc. |
32,270 | 3,109,215 | ||||||||||||
|
|
|||||||||||||
8,770,960 | ||||||||||||||
|
|
|||||||||||||
Biotechnology 3.7% |
||||||||||||||
Alexion Pharmaceuticals, Inc.* |
3,350 | 661,424 | ||||||||||||
Amgen, Inc. |
11,480 | 2,027,253 | ||||||||||||
Baxalta, Inc.* |
8,000 | 262,640 | ||||||||||||
Biogen, Inc.* |
3,520 | 1,122,106 | ||||||||||||
Celgene Corp.* |
11,870 | 1,557,937 | ||||||||||||
Gilead Sciences, Inc. |
22,080 | 2,602,349 | ||||||||||||
Regeneron Pharmaceuticals, Inc.* |
1,130 | 625,636 | ||||||||||||
Vertex Pharmaceuticals, Inc.* |
3,650 | 492,750 | ||||||||||||
|
|
|||||||||||||
9,352,095 | ||||||||||||||
|
|
|||||||||||||
Building Products |
||||||||||||||
Allegion PLC |
466 | 29,461 | ||||||||||||
Masco Corp. |
1,500 | 39,585 | ||||||||||||
|
|
|||||||||||||
69,046 | ||||||||||||||
|
|
|||||||||||||
Capital Markets 2.6% |
||||||||||||||
Affiliated Managers Group, Inc.* |
860 | 178,794 | ||||||||||||
Ameriprise Financial, Inc. |
2,780 | 349,363 | ||||||||||||
Bank of New York Mellon Corp. (The) |
17,000 | 737,800 | ||||||||||||
BlackRock, Inc. |
1,930 | 649,098 | ||||||||||||
Charles Schwab Corp. (The) |
17,500 | 610,400 | ||||||||||||
E*TRADE Financial Corp.* |
4,500 | 127,890 | ||||||||||||
Franklin Resources, Inc. |
5,990 | 272,844 | ||||||||||||
Goldman Sachs Group, Inc. (The) |
6,170 | 1,265,282 | ||||||||||||
Invesco Ltd. |
6,600 | 254,760 | ||||||||||||
Legg Mason, Inc. |
1,600 | 78,944 | ||||||||||||
Morgan Stanley |
23,400 | 908,856 | ||||||||||||
Northern Trust Corp. |
3,400 | 260,066 | ||||||||||||
State Street Corp. |
6,300 | 482,328 | ||||||||||||
T. Rowe Price Group, Inc. |
4,100 | 316,233 | ||||||||||||
|
|
|||||||||||||
6,492,658 | ||||||||||||||
|
|
|||||||||||||
Chemicals 1.2% |
||||||||||||||
Air Products & Chemicals, Inc. |
1,510 | 215,190 | ||||||||||||
Airgas, Inc. |
500 | 51,010 | ||||||||||||
CF Industries Holdings, Inc. |
1,750 | 103,600 | ||||||||||||
Dow Chemical Co. (The) |
8,100 | 381,186 | ||||||||||||
E.I. du Pont de Nemours & Co. |
6,800 | 379,168 | ||||||||||||
Eastman Chemical Co. |
1,100 | 86,240 | ||||||||||||
Ecolab, Inc. |
2,060 | 238,569 | ||||||||||||
FMC Corp. |
1,000 | 48,540 | ||||||||||||
International Flavors & Fragrances, Inc. |
590 | 68,198 | ||||||||||||
LyondellBasell Industries NV (Class A Stock) |
2,960 | 277,737 | ||||||||||||
Monsanto Co. |
3,570 | 363,747 | ||||||||||||
Mosaic Co. (The) |
2,200 | 94,468 | ||||||||||||
PPG Industries, Inc. |
2,080 | 225,430 | ||||||||||||
Praxair, Inc. |
2,200 | 251,108 | ||||||||||||
Sherwin-Williams Co. (The) |
680 | 188,877 | ||||||||||||
Sigma-Aldrich Corp. |
970 | 135,422 | ||||||||||||
|
|
|||||||||||||
3,108,490 | ||||||||||||||
|
|
Commercial Services & Supplies 0.1% |
||||||||||||||
ADT Corp. (The) |
700 | 24,171 | ||||||||||||
Cintas Corp. |
400 | 34,200 | ||||||||||||
Pitney Bowes, Inc. |
900 | 18,828 | ||||||||||||
Republic Services, Inc. |
1,100 | 46,783 | ||||||||||||
Stericycle, Inc.* |
390 | 54,978 | ||||||||||||
Tyco International PLC |
1,900 | 72,181 | ||||||||||||
Waste Management, Inc. |
1,900 | 97,147 | ||||||||||||
|
|
|||||||||||||
348,288 | ||||||||||||||
|
|
|||||||||||||
Communications Equipment 1.5% |
||||||||||||||
Cisco Systems, Inc. |
65,800 | 1,870,036 | ||||||||||||
F5 Networks, Inc.* |
920 | 123,409 | ||||||||||||
Harris Corp. |
1,600 | 132,704 | ||||||||||||
Juniper Networks, Inc. |
4,400 | 125,048 | ||||||||||||
Motorola Solutions, Inc. |
2,400 | 144,384 | ||||||||||||
QUALCOMM, Inc. |
21,100 | 1,358,629 | ||||||||||||
|
|
|||||||||||||
3,754,210 | ||||||||||||||
|
|
|||||||||||||
Construction & Engineering |
||||||||||||||
Fluor Corp. |
700 | 32,725 | ||||||||||||
Jacobs Engineering Group, Inc.* |
500 | 21,060 | ||||||||||||
Quanta Services, Inc.* |
900 | 24,858 | ||||||||||||
|
|
|||||||||||||
78,643 | ||||||||||||||
|
|
|||||||||||||
Construction Materials 0.1% |
||||||||||||||
Martin Marietta Materials, Inc. |
460 | 72,137 | ||||||||||||
Vulcan Materials Co. |
1,000 | 91,020 | ||||||||||||
|
|
|||||||||||||
163,157 | ||||||||||||||
|
|
|||||||||||||
Consumer Finance 0.9% |
||||||||||||||
American Express Co. |
13,300 | 1,011,598 | ||||||||||||
Capital One Financial Corp. |
8,300 | 674,790 | ||||||||||||
Discover Financial Services |
6,800 | 379,508 | ||||||||||||
Navient Corp. |
6,200 | 97,340 | ||||||||||||
|
|
|||||||||||||
2,163,236 | ||||||||||||||
|
|
|||||||||||||
Containers & Packaging 0.1% |
||||||||||||||
Avery Dennison Corp. |
700 | 42,595 | ||||||||||||
Ball Corp. |
1,000 | 67,840 | ||||||||||||
Owens-Illinois, Inc.* |
1,100 | 23,485 | ||||||||||||
Sealed Air Corp. |
1,500 | 79,755 | ||||||||||||
WestRock Co.* |
1,936 | 122,084 | ||||||||||||
|
|
|||||||||||||
335,759 | ||||||||||||||
|
|
|||||||||||||
Distributors |
||||||||||||||
Genuine Parts Co. |
620 | 55,149 | ||||||||||||
|
|
|||||||||||||
Diversified Consumer Services |
||||||||||||||
H&R Block, Inc. |
1,000 | 33,290 | ||||||||||||
|
|
|||||||||||||
Diversified Financial Services 2.3% |
||||||||||||||
Berkshire Hathaway, Inc. (Class B Stock)* |
27,630 | 3,943,906 | ||||||||||||
CME Group, Inc. |
4,900 | 470,596 | ||||||||||||
Intercontinental Exchange, Inc. |
1,716 | 391,317 | ||||||||||||
Leucadia National Corp. |
5,000 | 117,600 | ||||||||||||
McGraw-Hill Financial, Inc. |
4,180 | 425,315 | ||||||||||||
Moodys Corp. |
2,740 | 302,578 | ||||||||||||
NASDAQ OMX Group, Inc. (The) |
1,900 | 96,957 | ||||||||||||
|
|
|||||||||||||
5,748,269 | ||||||||||||||
|
|
Diversified Telecommunication Services 2.4% |
||||||||||||||
AT&T, Inc. |
77,795 | 2,702,591 | ||||||||||||
CenturyLink, Inc. |
7,800 | 223,080 | ||||||||||||
Frontier Communications Corp. |
16,100 | 75,992 | ||||||||||||
Level 3 Communications, Inc.* |
4,100 | 207,050 | ||||||||||||
Verizon Communications, Inc. |
58,300 | 2,727,857 | ||||||||||||
|
|
|||||||||||||
5,936,570 | ||||||||||||||
|
|
|||||||||||||
Electric Utilities 6.8% |
||||||||||||||
American Electric Power Co., Inc. |
27,000 | 1,527,390 | ||||||||||||
Duke Energy Corp. |
38,200 | 2,835,204 | ||||||||||||
Edison International |
18,000 | 1,080,180 | ||||||||||||
Entergy Corp. |
9,900 | 703,098 | ||||||||||||
Eversource Energy |
17,500 | 870,100 | ||||||||||||
Exelon Corp. |
47,500 | 1,524,275 | ||||||||||||
FirstEnergy Corp. |
23,300 | 791,268 | ||||||||||||
NextEra Energy, Inc. |
24,540 | 2,581,608 | ||||||||||||
Pepco Holdings, Inc. |
13,800 | 368,184 | ||||||||||||
Pinnacle West Capital Corp. |
6,200 | 382,602 | ||||||||||||
PPL Corp. |
36,800 | 1,170,608 | ||||||||||||
Southern Co. (The) |
50,100 | 2,240,973 | ||||||||||||
Xcel Energy, Inc. |
27,900 | 967,293 | ||||||||||||
|
|
|||||||||||||
17,042,783 | ||||||||||||||
|
|
|||||||||||||
Electrical Equipment 0.2% |
||||||||||||||
AMETEK, Inc. |
1,100 | 58,355 | ||||||||||||
Eaton Corp. PLC |
2,100 | 127,218 | ||||||||||||
Emerson Electric Co. |
3,000 | 155,250 | ||||||||||||
Rockwell Automation, Inc. |
610 | 71,236 | ||||||||||||
|
|
|||||||||||||
412,059 | ||||||||||||||
|
|
|||||||||||||
Electronic Equipment, Instruments & Components 0.4% |
||||||||||||||
Amphenol Corp. (Class A Stock) |
3,940 | 222,255 | ||||||||||||
Corning, Inc. |
16,000 | 298,880 | ||||||||||||
FLIR Systems, Inc. |
1,700 | 52,343 | ||||||||||||
TE Connectivity Ltd. (Switzerland) |
5,200 | 316,784 | ||||||||||||
|
|
|||||||||||||
890,262 | ||||||||||||||
|
|
|||||||||||||
Energy Equipment & Services 0.3% |
||||||||||||||
Baker Hughes, Inc. |
1,300 | 75,595 | ||||||||||||
Cameron International Corp.* |
600 | 30,276 | ||||||||||||
Diamond Offshore Drilling, Inc. |
100 | 2,195 | ||||||||||||
Ensco PLC (Class A Stock) |
600 | 9,948 | ||||||||||||
FMC Technologies, Inc.* |
600 | 19,656 | ||||||||||||
Halliburton Co. |
2,500 | 104,475 | ||||||||||||
Helmerich & Payne, Inc. |
370 | 21,364 | ||||||||||||
National Oilwell Varco, Inc. |
1,100 | 46,343 | ||||||||||||
Noble Corp. PLC |
700 | 8,365 | ||||||||||||
Schlumberger Ltd. |
3,790 | 313,888 | ||||||||||||
Transocean Ltd. |
1,000 | 13,260 | ||||||||||||
|
|
|||||||||||||
645,365 | ||||||||||||||
|
|
|||||||||||||
Food & Staples Retailing 4.0% |
||||||||||||||
Costco Wholesale Corp. |
9,590 | 1,393,427 | ||||||||||||
CVS Health Corp. |
24,660 | 2,773,510 | ||||||||||||
Kroger Co. (The) |
21,400 | 839,736 | ||||||||||||
Sysco Corp. |
13,000 | 472,030 | ||||||||||||
Wal-Mart Stores, Inc. |
34,400 | 2,476,112 | ||||||||||||
Walgreens Boots Alliance, Inc. |
19,100 | 1,845,633 | ||||||||||||
Whole Foods Market, Inc. |
7,700 | 280,280 | ||||||||||||
|
|
|||||||||||||
10,080,728 | ||||||||||||||
|
|
Food Products 2.7% |
||||||||||||||
Archer-Daniels-Midland Co. |
13,500 | 640,170 | ||||||||||||
Campbell Soup Co. |
3,900 | 192,309 | ||||||||||||
ConAgra Foods, Inc. |
9,200 | 405,352 | ||||||||||||
General Mills, Inc. |
13,100 | 762,551 | ||||||||||||
Hershey Co. (The) |
3,200 | 297,248 | ||||||||||||
Hormel Foods Corp. |
3,000 | 177,630 | ||||||||||||
J.M. Smucker Co. (The) |
2,140 | 239,016 | ||||||||||||
Kellogg Co. |
5,500 | 363,935 | ||||||||||||
Keurig Green Mountain, Inc. |
2,490 | 186,850 | ||||||||||||
Kraft Heinz Co. (The) |
12,900 | 1,025,163 | ||||||||||||
McCormick & Co., Inc. |
2,800 | 229,628 | ||||||||||||
Mead Johnson Nutrition Co. |
4,480 | 395,987 | ||||||||||||
Mondelez International, Inc. (Class A Stock) |
35,500 | 1,602,115 | ||||||||||||
Tyson Foods, Inc. (Class A Stock) |
6,400 | 283,840 | ||||||||||||
|
|
|||||||||||||
6,801,794 | ||||||||||||||
|
|
|||||||||||||
Gas Utilities 0.1% |
||||||||||||||
AGL Resources, Inc. |
6,700 | 322,136 | ||||||||||||
|
|
|||||||||||||
Health Care Equipment & Supplies 2.4% |
||||||||||||||
Abbott Laboratories |
22,300 | 1,130,387 | ||||||||||||
Baxter International, Inc. |
8,100 | 324,648 | ||||||||||||
Becton, Dickinson and Co. |
3,135 | 476,990 | ||||||||||||
Boston Scientific Corp.* |
20,000 | 346,800 | ||||||||||||
C.R. Bard, Inc. |
1,110 | 218,282 | ||||||||||||
DENTSPLY International, Inc. |
2,100 | 119,511 | ||||||||||||
Edwards Lifesciences Corp.* |
1,610 | 244,978 | ||||||||||||
Intuitive Surgical, Inc.* |
560 | 298,575 | ||||||||||||
Medtronic PLC |
21,388 | 1,676,605 | ||||||||||||
St. Jude Medical, Inc. |
4,200 | 310,044 | ||||||||||||
Stryker Corp. |
4,500 | 460,215 | ||||||||||||
Varian Medical Systems, Inc.* |
1,500 | 129,105 | ||||||||||||
Zimmer Biomet Holdings, Inc. |
2,550 | 265,378 | ||||||||||||
|
|
|||||||||||||
6,001,518 | ||||||||||||||
|
|
|||||||||||||
Health Care Providers & Services 3.2% |
||||||||||||||
Aetna, Inc. |
5,230 | 590,833 | ||||||||||||
AmerisourceBergen Corp. |
3,120 | 329,940 | ||||||||||||
Anthem, Inc. |
3,960 | 610,909 | ||||||||||||
Cardinal Health, Inc. |
5,000 | 424,900 | ||||||||||||
Cigna Corp. |
3,850 | 554,631 | ||||||||||||
DaVita HealthCare Partners, Inc.* |
2,580 | 203,897 | ||||||||||||
Express Scripts Holding Co.* |
11,000 | 990,770 | ||||||||||||
HCA Holdings, Inc.* |
4,400 | 409,244 | ||||||||||||
Henry Schein, Inc.* |
1,250 | 184,975 | ||||||||||||
Humana, Inc. |
2,240 | 407,882 | ||||||||||||
Laboratory Corp. of America Holdings* |
1,500 | 190,935 | ||||||||||||
McKesson Corp. |
3,470 | 765,378 | ||||||||||||
Patterson Cos., Inc. |
1,300 | 65,208 | ||||||||||||
Quest Diagnostics, Inc. |
2,200 | 162,382 | ||||||||||||
Tenet Healthcare Corp.* |
1,500 | 84,450 | ||||||||||||
UnitedHealth Group, Inc. |
14,340 | 1,740,876 | ||||||||||||
Universal Health Services, Inc. (Class B Stock) |
1,370 | 198,965 | ||||||||||||
|
|
|||||||||||||
7,916,175 | ||||||||||||||
|
|
|||||||||||||
Health Care Technology 0.1% |
||||||||||||||
Cerner Corp.* |
4,600 | 329,912 | ||||||||||||
|
|
|||||||||||||
Hotels, Restaurants & Leisure 0.5% |
||||||||||||||
Carnival Corp. |
1,700 | 90,593 | ||||||||||||
Chipotle Mexican Grill, Inc.* |
120 | 89,068 |
Darden Restaurants, Inc. |
500 | 36,880 | ||||||||||||
Marriott International, Inc. (Class A Stock) |
800 | 58,088 | ||||||||||||
McDonalds Corp. |
3,630 | 362,492 | ||||||||||||
Royal Caribbean Cruises Ltd. |
600 | 53,910 | ||||||||||||
Starbucks Corp. |
5,600 | 324,408 | ||||||||||||
Starwood Hotels & Resorts Worldwide, Inc. |
700 | 55,622 | ||||||||||||
Wyndham Worldwide Corp. |
500 | 41,260 | ||||||||||||
Wynn Resorts Ltd. |
310 | 32,001 | ||||||||||||
Yum! Brands, Inc. |
1,600 | 140,416 | ||||||||||||
|
|
|||||||||||||
1,284,738 | ||||||||||||||
|
|
|||||||||||||
Household Durables 0.1% |
||||||||||||||
D.R. Horton, Inc. |
1,200 | 35,628 | ||||||||||||
Garmin Ltd. |
400 | 16,764 | ||||||||||||
Harman International Industries, Inc. |
270 | 29,068 | ||||||||||||
Leggett & Platt, Inc. |
500 | 23,905 | ||||||||||||
Lennar Corp. (Class A Stock) |
700 | 37,128 | ||||||||||||
Mohawk Industries, Inc.* |
240 | 48,382 | ||||||||||||
Newell Rubbermaid, Inc. |
1,000 | 43,280 | ||||||||||||
PulteGroup, Inc. |
1,200 | 24,864 | ||||||||||||
Whirlpool Corp. |
300 | 53,319 | ||||||||||||
|
|
|||||||||||||
312,338 | ||||||||||||||
|
|
|||||||||||||
Household Products 2.8% |
||||||||||||||
Clorox Co. (The) |
2,890 | 323,507 | ||||||||||||
Colgate-Palmolive Co. |
18,500 | 1,258,370 | ||||||||||||
Kimberly-Clark Corp. |
8,020 | 922,059 | ||||||||||||
Procter & Gamble Co. (The) |
59,200 | 4,540,640 | ||||||||||||
|
|
|||||||||||||
7,044,576 | ||||||||||||||
|
|
|||||||||||||
Independent Power & Renewable Electricity Producers 0.4% |
||||||||||||||
AES Corp. (The) |
37,600 | 481,280 | ||||||||||||
NRG Energy, Inc. |
18,300 | 410,835 | ||||||||||||
|
|
|||||||||||||
892,115 | ||||||||||||||
|
|
|||||||||||||
Industrial Conglomerates 0.8% |
||||||||||||||
3M Co. |
2,970 | 449,480 | ||||||||||||
Danaher Corp. |
2,800 | 256,368 | ||||||||||||
General Electric Co. |
45,800 | 1,195,380 | ||||||||||||
Roper Technologies, Inc. |
460 | 76,944 | ||||||||||||
|
|
|||||||||||||
1,978,172 | ||||||||||||||
|
|
|||||||||||||
Insurance 3.0% |
||||||||||||||
ACE Ltd. |
5,070 | 551,464 | ||||||||||||
Aflac, Inc. |
6,600 | 422,730 | ||||||||||||
Allstate Corp. (The) |
6,200 | 427,490 | ||||||||||||
American International Group, Inc. |
20,300 | 1,301,636 | ||||||||||||
Aon PLC |
4,380 | 441,373 | ||||||||||||
Assurant, Inc. |
1,100 | 82,060 | ||||||||||||
Chubb Corp. (The) |
3,510 | 436,398 | ||||||||||||
Cincinnati Financial Corp. |
2,300 | 126,983 | ||||||||||||
Genworth Financial, Inc. (Class A Stock)* |
8,300 | 58,183 | ||||||||||||
Hartford Financial Services Group, Inc. (The) |
6,400 | 304,320 | ||||||||||||
Lincoln National Corp. |
3,900 | 219,648 | ||||||||||||
Loews Corp. |
4,600 | 175,306 | ||||||||||||
Marsh & McLennan Cos., Inc. |
8,200 | 475,108 | ||||||||||||
MetLife, Inc. |
16,900 | 942,006 | ||||||||||||
Principal Financial Group, Inc. |
4,200 | 233,142 | ||||||||||||
Progressive Corp. (The) |
8,200 | 250,100 | ||||||||||||
Torchmark Corp. |
2,000 | 123,220 |
Travelers Cos., Inc. (The) |
4,910 | 521,049 | ||||||||||||
Unum Group |
3,900 | 139,776 | ||||||||||||
XL Group PLC (Ireland) |
4,800 | 182,496 | ||||||||||||
|
|
|||||||||||||
7,414,488 | ||||||||||||||
|
|
|||||||||||||
Internet & Catalog Retail 0.5% |
||||||||||||||
Amazon.com, Inc.* |
1,440 | 772,056 | ||||||||||||
Expedia, Inc. |
380 | 46,148 | ||||||||||||
Netflix, Inc.* |
1,610 | 184,039 | ||||||||||||
Priceline Group, Inc. (The)* |
200 | 248,714 | ||||||||||||
TripAdvisor, Inc.* |
390 | 30,958 | ||||||||||||
|
|
|||||||||||||
1,281,915 | ||||||||||||||
|
|
|||||||||||||
Internet Software & Services 3.5% |
||||||||||||||
Akamai Technologies, Inc.* |
2,300 | 176,433 | ||||||||||||
eBay, Inc.* |
14,300 | 402,116 | ||||||||||||
Equinix, Inc. |
890 | 248,230 | ||||||||||||
Facebook, Inc. (Class A Stock)* |
27,300 | 2,566,473 | ||||||||||||
Google, Inc. (Class A Stock)* |
3,740 | 2,459,050 | ||||||||||||
Google, Inc. (Class C Stock)* |
3,751 | 2,346,663 | ||||||||||||
VeriSign, Inc.* |
1,300 | 92,222 | ||||||||||||
Yahoo!, Inc.* |
11,300 | 414,371 | ||||||||||||
|
|
|||||||||||||
8,705,558 | ||||||||||||||
|
|
|||||||||||||
IT Services 3.6% |
||||||||||||||
Accenture PLC (Class A Stock) |
8,100 | 835,191 | ||||||||||||
Alliance Data Systems Corp.* |
890 | 244,786 | ||||||||||||
Automatic Data Processing, Inc. |
6,100 | 486,597 | ||||||||||||
Cognizant Technology Solutions Corp. (Class A Stock)* |
7,920 | 499,752 | ||||||||||||
Computer Sciences Corp. |
1,800 | 117,774 | ||||||||||||
Fidelity National Information Services, Inc. |
3,600 | 235,548 | ||||||||||||
Fiserv, Inc.* |
3,060 | 265,792 | ||||||||||||
International Business Machines Corp. |
11,850 | 1,919,581 | ||||||||||||
MasterCard, Inc. (Class A Stock) |
12,600 | 1,227,240 | ||||||||||||
Paychex, Inc. |
4,300 | 199,520 | ||||||||||||
PayPal Holdings, Inc. |
14,300 | 553,410 | ||||||||||||
Teradata Corp.* |
1,800 | 66,798 | ||||||||||||
Total System Services, Inc. |
2,100 | 97,062 | ||||||||||||
Visa, Inc. (Class A Stock) |
25,060 | 1,888,020 | ||||||||||||
Western Union Co. (The) |
6,500 | 131,560 | ||||||||||||
Xerox Corp. |
13,100 | 144,362 | ||||||||||||
|
|
|||||||||||||
8,912,993 | ||||||||||||||
|
|
|||||||||||||
Leisure Products |
||||||||||||||
Hasbro, Inc. |
400 | 31,496 | ||||||||||||
Mattel, Inc. |
1,200 | 27,852 | ||||||||||||
|
|
|||||||||||||
59,348 | ||||||||||||||
|
|
|||||||||||||
Life Sciences Tools & Services 0.5% |
||||||||||||||
Agilent Technologies, Inc. |
5,000 | 204,750 | ||||||||||||
PerkinElmer, Inc. |
1,700 | 89,964 | ||||||||||||
Thermo Fisher Scientific, Inc. |
5,960 | 831,599 | ||||||||||||
Waters Corp.* |
1,240 | 165,527 | ||||||||||||
|
|
|||||||||||||
1,291,840 | ||||||||||||||
|
|
|||||||||||||
Machinery 0.5% |
||||||||||||||
Caterpillar, Inc. |
2,780 | 218,591 | ||||||||||||
Cummins, Inc. |
760 | 98,443 | ||||||||||||
Deere & Co. |
1,500 | 141,855 | ||||||||||||
Dover Corp. |
700 | 44,849 |
Flowserve Corp. |
600 | 28,194 | ||||||||||||
Illinois Tool Works, Inc. |
1,600 | 143,152 | ||||||||||||
Ingersoll-Rand PLC |
1,200 | 73,680 | ||||||||||||
Joy Global, Inc. |
400 | 10,564 | ||||||||||||
PACCAR, Inc. |
1,600 | 103,744 | ||||||||||||
Pall Corp. |
490 | 61,961 | ||||||||||||
Parker Hannifin Corp. |
630 | 71,032 | ||||||||||||
Pentair PLC (United Kingdom) |
800 | 48,648 | ||||||||||||
Snap-on, Inc. |
270 | 44,496 | ||||||||||||
Stanley Black & Decker, Inc. |
700 | 73,843 | ||||||||||||
Xylem, Inc. |
800 | 27,624 | ||||||||||||
|
|
|||||||||||||
1,190,676 | ||||||||||||||
|
|
|||||||||||||
Media 1.0% |
||||||||||||||
Cablevision Systems Corp. (Class A Stock) |
800 | 22,576 | ||||||||||||
CBS Corp. (Class B Stock) |
1,700 | 90,899 | ||||||||||||
Comcast Corp. (Class A Stock) |
9,500 | 592,895 | ||||||||||||
Discovery Communications, Inc. (Class A Stock)* |
500 | 16,510 | ||||||||||||
Discovery Communications, Inc. (Class C Stock)* |
900 | 27,270 | ||||||||||||
Interpublic Group of Cos., Inc. (The) |
1,500 | 31,950 | ||||||||||||
News Corp. (Class A Stock)* |
1,850 | 27,250 | ||||||||||||
Omnicom Group, Inc. |
900 | 65,772 | ||||||||||||
Scripps Networks Interactive, Inc. (Class A Stock) |
400 | 25,032 | ||||||||||||
TEGNA, Inc. |
800 | 23,304 | ||||||||||||
Time Warner Cable, Inc. |
1,070 | 203,311 | ||||||||||||
Time Warner, Inc. |
3,100 | 272,924 | ||||||||||||
Twenty-First Century Fox, Inc. (Class A Stock) |
6,600 | 227,634 | ||||||||||||
Viacom, Inc. (Class B Stock) |
1,300 | 74,100 | ||||||||||||
Walt Disney Co. (The) |
5,880 | 705,600 | ||||||||||||
|
|
|||||||||||||
2,407,027 | ||||||||||||||
|
|
|||||||||||||
Metals & Mining 0.1% |
||||||||||||||
Alcoa, Inc. |
8,900 | 87,843 | ||||||||||||
Freeport-McMoRan, Inc. |
7,500 | 88,125 | ||||||||||||
Newmont Mining Corp. |
3,800 | 65,246 | ||||||||||||
Nucor Corp. |
2,300 | 101,522 | ||||||||||||
|
|
|||||||||||||
342,736 | ||||||||||||||
|
|
|||||||||||||
Multiline Retail 0.2% |
||||||||||||||
Dollar General Corp. |
1,100 | 88,407 | ||||||||||||
Dollar Tree, Inc.* |
900 | 70,227 | ||||||||||||
Kohls Corp. |
700 | 42,924 | ||||||||||||
Macys, Inc. |
1,300 | 89,778 | ||||||||||||
Nordstrom, Inc. |
500 | 38,155 | ||||||||||||
Target Corp. |
2,400 | 196,440 | ||||||||||||
|
|
|||||||||||||
525,931 | ||||||||||||||
|
|
|||||||||||||
Multi-Utilities 4.6% |
||||||||||||||
Ameren Corp. |
13,400 | 550,472 | ||||||||||||
CenterPoint Energy, Inc. |
23,700 | 458,358 | ||||||||||||
CMS Energy Corp. |
15,200 | 520,752 | ||||||||||||
Consolidated Edison, Inc. |
16,200 | 1,030,158 | ||||||||||||
Dominion Resources, Inc. |
32,800 | 2,351,760 | ||||||||||||
DTE Energy Co. |
9,900 | 796,554 | ||||||||||||
NiSource, Inc. |
17,300 | 302,058 | ||||||||||||
PG&E Corp. |
26,500 | 1,391,515 | ||||||||||||
Public Service Enterprise Group, Inc. |
27,900 | 1,162,593 | ||||||||||||
SCANA Corp. |
7,800 | 427,440 | ||||||||||||
Sempra Energy |
12,870 | 1,309,909 | ||||||||||||
TECO Energy, Inc. |
12,700 | 280,924 | ||||||||||||
WEC Energy Group, Inc. |
17,384 | 851,816 | ||||||||||||
|
|
|||||||||||||
11,434,309 | ||||||||||||||
|
|
Oil, Gas & Consumable Fuels 1.3% |
||||||||||||||
Anadarko Petroleum Corp. |
1,530 | 113,755 | ||||||||||||
Apache Corp. |
1,100 | 50,446 | ||||||||||||
Cabot Oil & Gas Corp. |
1,200 | 31,392 | ||||||||||||
Chesapeake Energy Corp. |
1,500 | 12,990 | ||||||||||||
Chevron Corp. |
5,610 | 496,373 | ||||||||||||
Cimarex Energy Co. |
280 | 29,154 | ||||||||||||
Columbia Pipeline Group, Inc. |
900 | 26,262 | ||||||||||||
ConocoPhillips |
3,600 | 181,224 | ||||||||||||
CONSOL Energy, Inc. |
600 | 9,912 | ||||||||||||
Devon Energy Corp. |
1,100 | 54,362 | ||||||||||||
EOG Resources, Inc. |
1,630 | 125,820 | ||||||||||||
EQT Corp. |
470 | 36,119 | ||||||||||||
Exxon Mobil Corp. |
12,420 | 983,788 | ||||||||||||
Hess Corp. |
730 | 43,077 | ||||||||||||
Kinder Morgan, Inc. |
5,100 | 176,664 | ||||||||||||
Marathon Oil Corp. |
1,900 | 39,919 | ||||||||||||
Marathon Petroleum Corp. |
1,580 | 86,379 | ||||||||||||
Murphy Oil Corp. |
500 | 16,395 | ||||||||||||
Newfield Exploration Co.* |
400 | 13,116 | ||||||||||||
Noble Energy, Inc. |
1,100 | 38,753 | ||||||||||||
Occidental Petroleum Corp. |
2,300 | 161,460 | ||||||||||||
ONEOK, Inc. |
600 | 22,674 | ||||||||||||
Phillips 66 |
1,600 | 127,200 | ||||||||||||
Pioneer Natural Resources Co. |
440 | 55,779 | ||||||||||||
Range Resources Corp. |
500 | 19,670 | ||||||||||||
Southwestern Energy Co.* |
1,100 | 20,460 | ||||||||||||
Spectra Energy Corp. |
1,900 | 57,494 | ||||||||||||
Tesoro Corp. |
400 | 38,936 | ||||||||||||
Valero Energy Corp. |
1,500 | 98,400 | ||||||||||||
Williams Cos., Inc. (The) |
2,000 | 104,960 | ||||||||||||
|
|
|||||||||||||
3,272,933 | ||||||||||||||
|
|
|||||||||||||
Paper & Forest Products 0.1% |
||||||||||||||
International Paper Co. |
3,100 | 148,397 | ||||||||||||
|
|
|||||||||||||
Personal Products 0.2% |
||||||||||||||
Estee Lauder Cos., Inc. (The) (Class A Stock) |
4,900 | 436,639 | ||||||||||||
|
|
|||||||||||||
Pharmaceuticals 7.4% |
||||||||||||||
AbbVie, Inc. |
25,700 | 1,799,257 | ||||||||||||
Allergan PLC* |
5,878 | 1,946,500 | ||||||||||||
Bristol-Myers Squibb Co. |
25,100 | 1,647,564 | ||||||||||||
Eli Lilly & Co. |
14,700 | 1,242,297 | ||||||||||||
Endo International PLC* |
3,100 | 271,374 | ||||||||||||
Hospira, Inc.* |
2,600 | 232,570 | ||||||||||||
Johnson & Johnson |
41,620 | 4,170,740 | ||||||||||||
Mallinckrodt PLC* |
1,750 | 216,930 | ||||||||||||
Merck & Co., Inc. |
42,300 | 2,494,008 | ||||||||||||
Mylan NV* |
6,200 | 347,138 | ||||||||||||
Perrigo Co. PLC |
2,190 | 420,918 | ||||||||||||
Pfizer, Inc. |
92,100 | 3,321,126 | ||||||||||||
Zoetis, Inc. |
7,500 | 367,350 | ||||||||||||
|
|
|||||||||||||
18,477,772 | ||||||||||||||
|
|
|||||||||||||
Professional Services 0.1% |
||||||||||||||
Dun & Bradstreet Corp. (The) |
170 | 21,211 | ||||||||||||
Equifax, Inc. |
530 | 54,129 |
Nielsen NV |
1,700 | 82,382 | ||||||||||||
Robert Half International, Inc. |
600 | 33,018 | ||||||||||||
|
|
|||||||||||||
190,740 | ||||||||||||||
|
|
|||||||||||||
Real Estate Investment Trusts (REITs) 2.8% |
||||||||||||||
American Tower Corp. |
6,510 | 619,166 | ||||||||||||
Apartment Investment & Management Co. (Class A Stock) |
2,500 | 97,700 | ||||||||||||
AvalonBay Communities, Inc. |
2,030 | 349,850 | ||||||||||||
Boston Properties, Inc. |
2,360 | 290,941 | ||||||||||||
Crown Castle International Corp. |
5,200 | 425,932 | ||||||||||||
Equity Residential |
5,600 | 418,936 | ||||||||||||
Essex Property Trust, Inc. |
1,020 | 229,408 | ||||||||||||
General Growth Properties, Inc. |
9,700 | 263,258 | ||||||||||||
HCP, Inc. |
7,100 | 274,344 | ||||||||||||
Health Care REIT, Inc. |
5,400 | 374,598 | ||||||||||||
Host Hotels & Resorts, Inc. |
11,700 | 226,746 | ||||||||||||
Iron Mountain, Inc. |
2,938 | 88,287 | ||||||||||||
Kimco Realty Corp. |
6,400 | 158,144 | ||||||||||||
Macerich Co. (The) |
2,200 | 174,152 | ||||||||||||
Plum Creek Timber Co., Inc. |
2,800 | 114,800 | ||||||||||||
Prologis, Inc. |
8,000 | 324,880 | ||||||||||||
Public Storage |
2,220 | 455,500 | ||||||||||||
Realty Income Corp. |
3,600 | 173,844 | ||||||||||||
Simon Property Group, Inc. |
4,810 | 900,528 | ||||||||||||
SL Green Realty Corp. |
1,560 | 179,618 | ||||||||||||
Ventas, Inc. |
5,100 | 342,159 | ||||||||||||
Vornado Realty Trust |
2,710 | 264,361 | ||||||||||||
Weyerhaeuser Co. |
7,900 | 242,451 | ||||||||||||
|
|
|||||||||||||
6,989,603 | ||||||||||||||
|
|
|||||||||||||
Real Estate Management & Development 0.1% |
||||||||||||||
CBRE Group, Inc. (Class A Stock)* |
4,300 | 163,271 | ||||||||||||
|
|
|||||||||||||
Road & Rail 0.3% |
||||||||||||||
CSX Corp. |
4,400 | 137,632 | ||||||||||||
JB Hunt Transport Services, Inc. |
400 | 33,648 | ||||||||||||
Kansas City Southern |
500 | 49,595 | ||||||||||||
Norfolk Southern Corp. |
1,390 | 117,219 | ||||||||||||
Ryder System, Inc. |
300 | 27,156 | ||||||||||||
Union Pacific Corp. |
3,970 | 387,432 | ||||||||||||
|
|
|||||||||||||
752,682 | ||||||||||||||
|
|
|||||||||||||
Semiconductors & Semiconductor Equipment 2.1% |
||||||||||||||
Altera Corp. |
3,800 | 188,708 | ||||||||||||
Analog Devices, Inc. |
4,000 | 233,320 | ||||||||||||
Applied Materials, Inc. |
15,600 | 270,816 | ||||||||||||
Avago Technologies Ltd. (Singapore) |
3,370 | 421,722 | ||||||||||||
Broadcom Corp. (Class A Stock) |
7,100 | 359,331 | ||||||||||||
First Solar, Inc.* |
900 | 39,870 | ||||||||||||
Intel Corp. |
61,400 | 1,777,530 | ||||||||||||
KLA-Tencor Corp. |
2,000 | 106,100 | ||||||||||||
Lam Research Corp. |
2,100 | 161,427 | ||||||||||||
Linear Technology Corp. |
3,000 | 123,000 | ||||||||||||
Microchip Technology, Inc. |
2,600 | 111,384 | ||||||||||||
Micron Technology, Inc.* |
13,600 | 251,736 | ||||||||||||
NVIDIA Corp. |
6,400 | 127,680 | ||||||||||||
Qorvo, Inc.* |
1,900 | 110,105 | ||||||||||||
Skyworks Solutions, Inc. |
2,530 | 242,045 | ||||||||||||
Texas Instruments, Inc. |
13,500 | 674,730 | ||||||||||||
Xilinx, Inc. |
3,300 | 137,775 | ||||||||||||
|
|
|||||||||||||
5,337,279 | ||||||||||||||
|
|
Software 3.7% |
||||||||||||||
Adobe Systems, Inc.* |
6,200 | 508,338 | ||||||||||||
Autodesk, Inc.* |
2,900 | 146,682 | ||||||||||||
CA, Inc. |
4,000 | 116,540 | ||||||||||||
Citrix Systems, Inc.* |
2,000 | 151,220 | ||||||||||||
Electronic Arts, Inc.* |
4,000 | 286,200 | ||||||||||||
Intuit, Inc. |
3,610 | 381,830 | ||||||||||||
Microsoft Corp. |
104,800 | 4,894,160 | ||||||||||||
Oracle Corp. |
41,300 | 1,649,522 | ||||||||||||
Red Hat, Inc.* |
2,400 | 189,792 | ||||||||||||
salesforce.com, Inc.* |
8,000 | 586,400 | ||||||||||||
Symantec Corp. |
8,600 | 195,564 | ||||||||||||
|
|
|||||||||||||
9,106,248 | ||||||||||||||
|
|
|||||||||||||
Specialty Retail 0.7% |
||||||||||||||
Advance Auto Parts, Inc. |
300 | 52,263 | ||||||||||||
AutoNation, Inc.* |
300 | 18,702 | ||||||||||||
AutoZone, Inc.* |
120 | 84,113 | ||||||||||||
Bed Bath & Beyond, Inc.* |
600 | 39,138 | ||||||||||||
Best Buy Co., Inc. |
1,100 | 35,519 | ||||||||||||
CarMax, Inc.* |
800 | 51,608 | ||||||||||||
GameStop Corp. (Class A Stock) |
400 | 18,340 | ||||||||||||
Gap, Inc. (The) |
1,000 | 36,480 | ||||||||||||
Home Depot, Inc. (The) |
4,890 | 572,276 | ||||||||||||
L Brands, Inc. |
900 | 72,648 | ||||||||||||
Lowes Cos., Inc. |
3,500 | 242,760 | ||||||||||||
OReilly Automotive, Inc.* |
380 | 91,318 | ||||||||||||
Ross Stores, Inc. |
1,580 | 83,993 | ||||||||||||
Staples, Inc. |
2,400 | 35,304 | ||||||||||||
Tiffany & Co. |
440 | 42,108 | ||||||||||||
TJX Cos., Inc. (The) |
2,600 | 181,532 | ||||||||||||
Tractor Supply Co. |
500 | 46,260 | ||||||||||||
Urban Outfitters, Inc.* |
300 | 9,786 | ||||||||||||
|
|
|||||||||||||
1,714,148 | ||||||||||||||
|
|
|||||||||||||
Technology Hardware, Storage & Peripherals 4.5% |
||||||||||||||
Apple, Inc. |
74,660 | 9,056,258 | ||||||||||||
EMC Corp. |
25,100 | 674,939 | ||||||||||||
Hewlett-Packard Co. |
23,400 | 714,168 | ||||||||||||
NetApp, Inc. |
3,900 | 121,485 | ||||||||||||
SanDisk Corp. |
2,680 | 161,577 | ||||||||||||
Seagate Technology PLC |
4,000 | 202,400 | ||||||||||||
Western Digital Corp. |
2,870 | 246,992 | ||||||||||||
|
|
|||||||||||||
11,177,819 | ||||||||||||||
|
|
|||||||||||||
Textiles, Apparel & Luxury Goods 0.3% |
||||||||||||||
Coach, Inc. |
1,000 | 31,200 | ||||||||||||
Fossil Group, Inc.* |
200 | 13,750 | ||||||||||||
Hanesbrands, Inc. |
1,500 | 46,545 | ||||||||||||
Michael Kors Holdings Ltd.* |
700 | 29,393 | ||||||||||||
NIKE, Inc. (Class B Stock) |
2,620 | 301,876 | ||||||||||||
PVH Corp. |
310 | 35,972 | ||||||||||||
Ralph Lauren Corp. |
230 | 28,955 | ||||||||||||
Under Armour, Inc. (Class A Stock)* |
700 | 69,531 | ||||||||||||
VF Corp. |
1,320 | 101,759 | ||||||||||||
|
|
|||||||||||||
658,981 | ||||||||||||||
|
|
|||||||||||||
Thrifts & Mortgage Finance |
||||||||||||||
Hudson City Bancorp, Inc. |
7,900 | 81,449 | ||||||||||||
|
|
Tobacco 2.4% |
||||||||||||||||
Altria Group, Inc. |
42,900 | 2,332,902 | ||||||||||||||
Philip Morris International, Inc. |
33,800 | 2,890,914 | ||||||||||||||
Reynolds American, Inc. |
9,065 | 777,686 | ||||||||||||||
|
|
|||||||||||||||
6,001,502 | ||||||||||||||||
|
|
|||||||||||||||
Trading Companies & Distributors 0.1% |
||||||||||||||||
Fastenal Co. |
1,200 | 50,232 | ||||||||||||||
United Rentals, Inc.* |
450 | 30,145 | ||||||||||||||
W.W. Grainger, Inc. |
270 | 61,752 | ||||||||||||||
|
|
|||||||||||||||
142,129 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL COMMON STOCKS |
238,180,621 | |||||||||||||||
|
|
|||||||||||||||
Units | ||||||||||||||||
RIGHTS*(a) |
||||||||||||||||
Food & Staples Retailing |
||||||||||||||||
Safeway Casa Ley, expiring 01/30/19, CVR(b) |
2,400 | 370 | ||||||||||||||
Safeway PDC, expiring 01/30/17, CVR(b) |
2,400 | 111 | ||||||||||||||
|
|
|||||||||||||||
TOTAL RIGHTS |
481 | |||||||||||||||
|
|
|||||||||||||||
TOTAL LONG-TERM INVESTMENTS |
238,181,102 | |||||||||||||||
|
|
|||||||||||||||
SHORT-TERM INVESTMENTS 4.6% |
||||||||||||||||
AFFILIATED MONEY MARKET MUTUAL FUND 4.3% |
| |||||||||||||||
Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund |
10,686,826 | 10,686,826 | ||||||||||||||
|
|
|||||||||||||||
Interest Rate |
Maturity Date |
Principal Amount (000)# |
||||||||||||||
U.S. TREASURY OBLIGATION(d)(e) 0.3% |
||||||||||||||||
U.S. Treasury Bills |
0.150 | % | 09/17/15 | 800 | 799,975 | |||||||||||
|
|
|||||||||||||||
TOTAL SHORT-TERM INVESTMENTS |
11,486,801 | |||||||||||||||
|
|
|||||||||||||||
TOTAL INVESTMENTS 100.1% |
249,667,903 | |||||||||||||||
Liabilities in excess of other assets(g) (0.1)% |
(325,366 | ) | ||||||||||||||
|
|
|||||||||||||||
NET ASSETS 100.0% |
$ | 249,342,537 | ||||||||||||||
|
|
The following abbreviations are used in the portfolio descriptions:
CVR | Contingent Value Rights |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
* | Non-income producing security. |
(a) | The amount represents fair value of derivative instruments subject to equity contracts risk exposure as of July 31, 2015. |
(b) | Indicates a security or securities that have been deemed illiquid. |
(c) | Prudential Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund. |
(d) | Represents security, or a portion thereof, segregated as collateral for futures contracts. |
(e) | Rates shown reflect yield to maturity at purchase date. |
(f) | The United States federal income tax basis of investments and net unrealized appreciation were as follows: |
Tax Basis |
$ | 201,874,632 | ||
|
|
|||
Appreciation |
49,517,978 | |||
Depreciation |
(1,724,707 | ) | ||
|
|
|||
Net Unrealized Appreciation |
$ | 47,793,271 | ||
|
|
The book basis may differ from tax basis due to certain tax-related adjustments.
(g) | Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end: |
Futures contracts outstanding at July 31, 2015:
Number of |
Type |
Expiration |
Value at Trade Date |
Value at July 31, 2015 |
Unrealized Appreciation(1)(2) |
|||||||||||
Long Positions: |
||||||||||||||||
76 | S&P 500 E-Mini |
Sep. 2015 | $ | 7,948,874 | $ | 7,973,920 | $ | 25,046 | ||||||||
5 | S&P 500 Index |
Sep. 2015 | 2,605,875 | 2,623,000 | 17,125 | |||||||||||
|
|
|||||||||||||||
$ | 42,171 | |||||||||||||||
|
|
(1) | U.S. Treasury obligation with a market value of $799,975 has been segregated with Goldman Sachs & Co. to cover requirements for open futures contracts at July 31, 2015. |
(2) | The amount represents fair value of derivative instruments subject to equity contracts risk exposure as of July 31, 2015. |
Various inputs are used in determining the value of the Funds investments. These inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices generally in active markets for identical securities.
Level 2 - quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.
Level 3 - unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.
The following is a summary of the inputs used as of July 31, 2015 in valuing such portfolio securities:
Level 1 | Level 2 | Level 3 | ||||||||||
Investments in Securities |
||||||||||||
Common Stocks |
||||||||||||
Aerospace & Defense |
$ | 2,205,790 | $ | | $ | | ||||||
Air Freight & Logistics |
619,857 | | | |||||||||
Airlines |
396,968 | | | |||||||||
Auto Components |
272,669 | | | |||||||||
Automobiles |
425,157 | | | |||||||||
Banks |
17,677,276 | | | |||||||||
Beverages |
8,770,960 | | | |||||||||
Biotechnology |
9,352,095 | | | |||||||||
Building Products |
69,046 | | | |||||||||
Capital Markets |
6,492,658 | | | |||||||||
Chemicals |
3,108,490 | | | |||||||||
Commercial Services & Supplies |
348,288 | | | |||||||||
Communications Equipment |
3,754,210 | | | |||||||||
Construction & Engineering |
78,643 | | | |||||||||
Construction Materials |
163,157 | | | |||||||||
Consumer Finance |
2,163,236 | | | |||||||||
Containers & Packaging |
335,759 | | | |||||||||
Distributors |
55,149 | | | |||||||||
Diversified Consumer Services |
33,290 | | | |||||||||
Diversified Financial Services |
5,748,269 | | | |||||||||
Diversified Telecommunication Services |
5,936,570 | | | |||||||||
Electric Utilities |
17,042,783 | | | |||||||||
Electrical Equipment |
412,059 | | | |||||||||
Electronic Equipment, Instruments & Components |
890,262 | | | |||||||||
Energy Equipment & Services |
645,365 | | |
Food & Staples Retailing |
10,080,728 | | | |||||||||
Food Products |
6,801,794 | | | |||||||||
Gas Utilities |
322,136 | | | |||||||||
Health Care Equipment & Supplies |
6,001,518 | | | |||||||||
Health Care Providers & Services |
7,916,175 | | | |||||||||
Health Care Technology |
329,912 | | | |||||||||
Hotels, Restaurants & Leisure |
1,284,738 | | | |||||||||
Household Durables |
312,338 | | | |||||||||
Household Products |
7,044,576 | | | |||||||||
Independent Power & Renewable Electricity Producers |
892,115 | | | |||||||||
Industrial Conglomerates |
1,978,172 | | | |||||||||
Insurance |
7,414,488 | | | |||||||||
Internet & Catalog Retail |
1,281,915 | | | |||||||||
Internet Software & Services |
8,705,558 | | | |||||||||
IT Services |
8,912,993 | | | |||||||||
Leisure Products |
59,348 | | | |||||||||
Life Sciences Tools & Services |
1,291,840 | | | |||||||||
Machinery |
1,190,676 | | | |||||||||
Media |
2,407,027 | | | |||||||||
Metals & Mining |
342,736 | | | |||||||||
Multiline Retail |
525,931 | | | |||||||||
Multi-Utilities |
11,434,309 | | | |||||||||
Oil, Gas & Consumable Fuels |
3,272,933 | | | |||||||||
Paper & Forest Products |
148,397 | | | |||||||||
Personal Products |
436,639 | | | |||||||||
Pharmaceuticals |
18,477,772 | | | |||||||||
Professional Services |
190,740 | | | |||||||||
Real Estate Investment Trusts (REITs) |
6,989,603 | | | |||||||||
Real Estate Management & Development |
163,271 | | | |||||||||
Road & Rail |
752,682 | | | |||||||||
Semiconductors & Semiconductor Equipment |
5,337,279 | | | |||||||||
Software |
9,106,248 | | | |||||||||
Specialty Retail |
1,714,148 | | | |||||||||
Technology Hardware, Storage & Peripherals |
11,177,819 | | | |||||||||
Textiles, Apparel & Luxury Goods |
658,981 | | | |||||||||
Thrifts & Mortgage Finance |
81,449 | | | |||||||||
Tobacco |
6,001,502 | | | |||||||||
Trading Companies & Distributors |
142,129 | | | |||||||||
Rights |
||||||||||||
Food & Staples Retailing |
| | 481 | |||||||||
Affiliated Money Market Mutual Fund |
10,686,826 | | | |||||||||
U.S. Treasury Obligation |
| 799,975 | | |||||||||
Other Financial Instruments* |
||||||||||||
Futures Contracts |
42,171 | | | |||||||||
|
|
|
|
|
|
|||||||
Total |
$ | 248,909,618 | $ | 799,975 | $ | 481 | ||||||
|
|
|
|
|
|
* | Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and exchange-traded swap contracts, which are recorded at the unrealized appreciation/depreciation on the instrument, and over-the-counter swap contracts which are recorded at fair value. |
Notes to Schedules of Investments (Unaudited)
Securities Valuation: The Funds hold securities and other assets that are fair valued at the close of each day the New York Stock Exchange (NYSE) is open for trading. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Board of Trustees (the Board) has adopted Valuation Procedures for security valuation under which fair value responsibilities have been delegated to Prudential Investments LLC (PI or Manager). Under the current Valuation Procedures, the established Valuation Committee is responsible for supervising the valuation of portfolio securities and other assets. The Valuation Procedures permit the Funds to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. A record of the Valuation Committees actions is subject to the Boards review, approval, and ratification at its next regularly scheduled quarterly meeting.
Various inputs determine how the Funds investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, 3) detailed in the table following the Schedule of Investments.
Common and preferred stocks, exchange-traded funds, and derivative instruments such as futures or options that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via NASDAQ are valued at the NASDAQ official closing price. To the extent these securities are valued at the last sale price or NASDAQ official closing price, they are classified as Level 1 in the fair value hierarchy.
In the event that no sale or official closing price on valuation date exists, these securities are generally valued at the mean between the last reported bid and ask prices, or at the last bid price in the absence of an ask price. These securities are classified as Level 2 in the fair value hierarchy.
Common and preferred stocks traded on foreign securities exchanges are valued using pricing vendor services that provide model prices derived using adjustment factors based on information such as local closing price, relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable. Securities valued using such model prices are classified as Level 2 in the fair value hierarchy. Such securities are valued using model prices to the extent that the valuation meets the established confidence level for each security. If the confidence level is not met or the vendor does not provide a model price, securities are valued in accordance with exchange-traded common and preferred stocks discussed above.
Investments in open-end, non-exchange-traded mutual funds are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.
Fixed income securities traded in the over-the-counter (OTC) market are generally valued at prices provided by approved independent pricing vendors. The pricing vendors provide these prices after evaluating observable inputs including, but not limited to yield curves, yield spreads, credit ratings, deal terms, tranche level attributes, default rates, cash flows, prepayment spreads, broker/dealer quotations, and reported trades. Securities valued using such vendor prices are classified as Level 2 in the fair value hierarchy.
OTC derivative instruments are generally valued using pricing vendor services, which derive the valuation based on inputs such as underlying asset prices, indices, spreads, interest rates, and exchange rates. These instruments are categorized as Level 2 in the fair value hierarchy.
Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are generally valued at the daily settlement price determined by the respective exchange. These securities are classified as Level 2 in the fair value hierarchy, as the daily settlement price is not public.
Securities and other assets that cannot be priced according to the methods described above are valued based on pricing methodologies approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy.
When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuers financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a securitys most recent closing price and from the price used by other mutual funds to calculate their net asset values.
The Funds invest in the Prudential Core Taxable Money Market Fund, a portfolio of the Prudential Investment Portfolios 2, registered under the Investment Company Act of 1940, as amended, and managed by PI.
Restricted and Illiquid Securities: Each Fund may hold up to 15% of its net assets in illiquid securities, including those which are restricted as to disposition under securities law (restricted securities). Restricted securities, sometimes referred to as private placements, are valued pursuant to the valuation procedures noted above.
Other information regarding the Funds is available in the Funds most recent Report to Shareholders. This information is available on the Securities and Exchange Commissions website (www.sec.gov).
Item 2. Controls and Procedures
(a) | It is the conclusion of the registrants principal executive officer and principal financial officer that the effectiveness of the registrants current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commissions rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrants principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. |
(b) | There have been no significant changes in the registrants internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. |
Item 3. Exhibits
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 Attached hereto.
SIGNATURES
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) Prudential Investment Portfolios 16
By (Signature and Title)* | /s/ Deborah A. Docs | |
Deborah A. Docs | ||
Secretary of the Fund | ||
Date September 17, 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/ Stuart S. Parker | |
Stuart S. Parker | ||
President and Principal Executive Officer | ||
Date September 17, 2015 | ||
By (Signature and Title)* | /s/ M. Sadiq Peshimam | |
M. Sadiq Peshimam | ||
Treasurer and Principal Financial Officer | ||
Date September 17, 2015 |
* | Print the name and title of each signing officer under his or her signature. |
CERTIFICATIONS
I, Stuart S. Parker, certify that:
1. | I have reviewed this report on Form N-Q of Prudential Investment Portfolios 16; |
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 schedule of investments included in this report fairly presents 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: September 17, 2015 |
/s/ Stuart S. Parker | |||||
Stuart S. Parker | ||||||
President and Principal Executive Officer |
CERTIFICATIONS
I, M. Sadiq Peshimam, certify that:
1. | I have reviewed this report on Form N-Q of Prudential Investment Portfolios 16; |
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 schedule of investments included in this report fairly presents 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: September 17, 2015 |
/s/ M. Sadiq Peshimam | |||||
M. Sadiq Peshimam | ||||||
Treasurer and Principal Financial Officer |