UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file
number: 811-05639
Pacholder High Yield Fund, Inc.
(Exact name of registrant as specified in charter)
270 Park Avenue
New York, NY 10017
(Address of principal executive offices) (Zip code)
Frank J. Nasta
270 Park Avenue
New York, NY 10017
(Name and Address of Agent for Service)
Registrants telephone number, including area code: (877) 217-9502
Date of
fiscal year end: December 31
Date of reporting period: September 30, 2011
ITEM 1. SCHEDULE OF INVESTMENTS.
Pacholder High Yield Fund, Inc.
Schedule of Portfolio Investments as of September 30, 2011
(Unaudited)
THE UNAUDITED CERTIFIED MUTUAL FUNDS HOLDINGS LIST (the List) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS NOT TO
BE REPRODUCED FOR USE AS ADVERTISING OR SALES LITERATURE WITH THE GENERAL PUBLIC. The list is submitted for the general information of the shareholders of the Fund. It is not authorized for distribution to prospective investors in the Fund unless
preceded or accompanied by a prospectus. The list has been created from the books and records of the Fund. Certified holdings are available 60 days after the funds fiscal quarter, using a trade date accounting convention, by contacting the
appropriate service center. The list is subject to change without notice. The list is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.
JPMorgan Asset Management is the marketing name for the asset management business of J.P. Morgan Chase & Co. Those businesses include, but are
not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated and J.P. Morgan Alternative Asset Management, Inc.
JPMorgan Distribution Services, Inc.
© JPMorgan Chase & Co., 2011.
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments
As of September 30, 2011 (Unaudited)
|
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Description
|
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Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
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CONVERTIBLE BOND 0.1%
|
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MATERIALS 0.1%
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|
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CONSTRUCTION MATERIALS 0.1%
|
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|
U.S. Concrete, Inc., Private Placement, Secd Nt, 9.500%, 08/31/15
2
(cost $46,000)
|
|
$
|
46
|
|
|
$
|
40,078
|
|
|
|
0.1
|
%
|
|
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|
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|
|
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CORPORATE BONDS 110.5%
|
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CONSUMER DISCRETIONARY 32.2%
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AUTOMOBILES 2.0%
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Chrysler Group LLC/CG Co-Issuer, Inc., Private Placement, Sr Secd Nt,
|
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|
|
|
|
|
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|
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|
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8.000%, 06/15/19
2
|
|
|
200
|
|
|
|
156,000
|
|
|
|
0.2
|
|
8.250%, 06/15/21
2
|
|
|
200
|
|
|
|
154,000
|
|
|
|
0.1
|
|
Ford Holdings LLC,
|
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|
|
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|
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9.300%, 03/01/30
|
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262
|
|
|
|
335,057
|
|
|
|
0.3
|
|
9.375%, 03/01/20
10
|
|
|
150
|
|
|
|
171,031
|
|
|
|
0.2
|
|
Ford Motor Co.,
|
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7.750%, 06/15/43
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750
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781,802
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0.8
|
|
8.900%, 01/15/32
|
|
|
125
|
|
|
|
152,053
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|
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0.2
|
|
Ford Motor Co., Nt, 9.980%, 02/15/47
|
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125
|
|
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155,762
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0.2
|
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Motors Liquidation Co.,
|
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0.000%, 03/15/36
1,4
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55 Units
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275
|
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|
|
0.0
|
12
|
5.250%, 03/06/32
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25 Units
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7,489
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|
0.0
|
12
|
6.250%, 07/15/33
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15 Units
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4,461
|
|
|
|
0.0
|
12
|
7.250%, 04/15/41
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|
Units
|
11
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64
|
|
|
|
0.0
|
12
|
7.250%, 07/15/41
|
|
|
Units
|
11
|
|
|
28
|
|
|
|
0.0
|
12
|
7.250%, 02/15/52
|
|
|
7 Units
|
|
|
|
2,190
|
|
|
|
0.0
|
12
|
7.375%, 05/15/48
|
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|
10 Units
|
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|
2,896
|
|
|
|
0.0
|
12
|
7.375%, 10/01/51
|
|
|
Units
|
11
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|
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73
|
|
|
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0.0
|
12
|
Motors Liquidation Co., Debentures,
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6.750%, 05/01/28
1,4
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50
|
|
|
|
500
|
|
|
|
0.0
|
12
|
8.100%, 06/15/24
1,4
|
|
|
1,725
|
|
|
|
17,250
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|
|
0.0
|
12
|
8.375%, 07/15/33
1,4
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425
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4,250
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|
|
0.0
|
12
|
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1,945,181
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2.0
|
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BROADCASTING & CABLE TV 5.5%
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Adelphia Communications Corp., Pfd, 6.000%,
02/15/06
1,4
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125
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0.0
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Adelphia Communications Corp., Sr Nt,
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8.125%, 07/15/03
1,4
|
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|
750
|
|
|
|
1,200
|
|
|
|
0.0
|
12
|
9.375%, 11/15/09
1,4
|
|
|
560
|
|
|
|
896
|
|
|
|
0.0
|
12
|
Cablevision Systems Corp., 8.000%, 04/15/20
|
|
|
205
|
|
|
|
208,587
|
|
|
|
0.2
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
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BROADCASTING & CABLE TV (continued)
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Cablevision Systems Corp., Sr Unsecd Nt, 7.750%, 04/15/18
|
|
$
|
80
|
|
|
$
|
80,800
|
|
|
|
0.1
|
%
|
CCO Holdings LLC/CCO Holdings Capital Corp., 7.000%, 01/15/19
|
|
|
235
|
|
|
|
227,950
|
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|
|
0.2
|
|
CCO Holdings LLC/CCO Holdings Capital Corp., Co Guar,
|
|
|
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|
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|
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6.500%, 04/30/21
|
|
|
300
|
|
|
|
283,500
|
|
|
|
0.3
|
|
7.250%, 10/30/17
|
|
|
340
|
|
|
|
340,000
|
|
|
|
0.3
|
|
7.875%, 04/30/18
|
|
|
90
|
|
|
|
91,575
|
|
|
|
0.1
|
|
8.125%, 04/30/20
|
|
|
550
|
|
|
|
572,000
|
|
|
|
0.6
|
|
CCO Holdings LLC/CCO Holdings Capital Corp., Private Placement, 7.000%, 01/15/19
2
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|
|
90
|
|
|
|
87,075
|
|
|
|
0.1
|
|
Cequel Communications Holdings I LLC and Cequel Capital Corp., Private Placement, Sr Nt, 8.625%, 11/15/17
2
|
|
|
599
|
|
|
|
593,010
|
|
|
|
0.6
|
|
CSC Holdings LLC,
|
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|
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7.625%, 07/15/18
|
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50
|
|
|
|
52,250
|
|
|
|
0.1
|
|
8.625%, 02/15/19
|
|
|
44
|
|
|
|
48,290
|
|
|
|
0.0
|
12
|
CSC Holdings LLC, Sr Nt, 7.875%, 02/15/18
|
|
|
96
|
|
|
|
100,800
|
|
|
|
0.1
|
|
DISH DBS Corp., Private Placement, Co Guar, 6.750%,
06/01/21
2
|
|
|
360
|
|
|
|
343,800
|
|
|
|
0.4
|
|
DISH DBS Corp., Sr Nt, Co Guar, 7.875%, 09/01/19
|
|
|
215
|
|
|
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219,300
|
|
|
|
0.2
|
|
Insight Communications Co., Inc., Private Placement, Sr Nt, 9.375%, 07/15/18
2
|
|
|
215
|
|
|
|
240,800
|
|
|
|
0.2
|
|
Mediacom Broadband LLC/Mediacom Broadband Corp., Sr Unsecd Nt, 8.500%, 10/15/15
|
|
|
67
|
|
|
|
66,665
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|
|
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0.1
|
|
Mediacom LLC/Mediacom Capital Corp., 9.125%, 08/15/19
|
|
|
342
|
|
|
|
340,290
|
|
|
|
0.4
|
|
Sirius XM Radio, Inc., Private Placement,
9.750%, 09/01/15
2
|
|
|
150
|
|
|
|
162,375
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|
|
0.2
|
|
Telesat Canada/Telesat LLC, (Canada),
|
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|
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|
|
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|
|
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11.000%, 11/01/15
|
|
|
136
|
|
|
|
145,520
|
|
|
|
0.1
|
|
12.500%, 11/01/17
10
|
|
|
150
|
|
|
|
168,000
|
|
|
|
0.2
|
|
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, Private Placement, Sr Secd Nt, (Germany), 8.125%, 12/01/17
2
|
|
|
375
|
|
|
|
375,000
|
|
|
|
0.4
|
|
Virgin Media Finance plc,
(United Kingdom), 8.375%, 10/15/19
|
|
|
225
|
|
|
|
239,063
|
|
|
|
0.2
|
|
3
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
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|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BROADCASTING & CABLE TV (continued)
|
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|
|
|
|
XM Satellite Radio, Inc., Private Placement, Sr Nt,
13.000%,
08/01/13
2
|
|
$
|
330
|
|
|
$
|
369,600
|
|
|
|
0.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
5,358,346
|
|
|
|
5.5
|
|
DIVERSIFIED CONSUMER SERVICES 1.3%
|
|
|
|
|
|
Knowledge Learning Corp., Inc., Private Placement, Sr Sub Nt,
7.750%, 02/01/15
2,10
|
|
|
700
|
|
|
|
665,000
|
|
|
|
0.7
|
|
Mac-Gray Corp., Sr Nt, 7.625%, 08/15/15
|
|
|
650
|
|
|
|
658,125
|
|
|
|
0.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,323,125
|
|
|
|
1.3
|
|
GAMING 7.2%
|
|
|
|
|
|
Ameristar Casinos, Inc., Private Placement, Nt, 7.500%,
04/15/21
2
|
|
|
285
|
|
|
|
275,738
|
|
|
|
0.3
|
|
Boyd Gaming Corp., Private Placement, Sr Nt, 9.125%,
12/01/18
2
|
|
|
86
|
|
|
|
70,735
|
|
|
|
0.1
|
|
Caesars Entertainment Operating Co., Inc., 11.250%, 06/01/17
|
|
|
275
|
|
|
|
277,406
|
|
|
|
0.3
|
|
Chukchansi Economic Development Authority, Private Placement,
8.000%, 11/15/13
2
|
|
|
766
|
|
|
|
518,965
|
|
|
|
0.5
|
|
CityCenter Holdings LLC/CityCenter Finance Corp., Private Placement, PIK, 11.500%, 01/15/17
2
|
|
|
390
|
|
|
|
353,682
|
|
|
|
0.4
|
|
Downstream Development Authority of the Quapaw Tribe of Oklahoma, Private Placement, Sr Secd Nt, 10.500%, 07/01/19
2
|
|
|
225
|
|
|
|
212,063
|
|
|
|
0.2
|
|
Isle of Capri Casinos, Inc., Sr Nt, 7.000%, 03/01/14
|
|
|
250
|
|
|
|
227,187
|
|
|
|
0.2
|
|
Isle of Capri Casinos, Inc., Sr Nt, Co Guar, 7.750%, 03/15/19
|
|
|
300
|
|
|
|
273,750
|
|
|
|
0.3
|
|
Mashantucket Western Pequot Tribe, Private Placement, 5.912%, 09/01/21
1,2,4
|
|
|
475
|
|
|
|
231,259
|
|
|
|
0.2
|
|
MCE Finance Ltd., Sr Secd Nt, (Cayman Islands), 10.250%, 05/15/18
|
|
|
225
|
|
|
|
238,500
|
|
|
|
0.2
|
|
MGM Resorts International, Co Guar, 6.625%, 07/15/15
|
|
|
231
|
|
|
|
195,773
|
|
|
|
0.2
|
|
7.500%, 06/01/16
|
|
|
170
|
|
|
|
147,475
|
|
|
|
0.1
|
|
7.625%, 01/15/17
|
|
|
201
|
|
|
|
172,357
|
|
|
|
0.2
|
|
MGM Resorts International, Private Placement, Nt, 10.000%,
11/01/16
2
|
|
|
1,400
|
|
|
|
1,326,500
|
|
|
|
1.3
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAMING (continued)
|
|
|
|
|
|
Pinnacle Entertainment, Inc., 8.750%, 05/15/20
|
|
$
|
255
|
|
|
$
|
237,787
|
|
|
|
0.2
|
%
|
Pinnacle Entertainment, Inc., Nt, Co Guar, 8.625%, 08/01/17
|
|
|
200
|
|
|
|
201,500
|
|
|
|
0.2
|
|
ROC Finance LLC/ROC Finance 1 Corp., Private Placement, Secd Nt, 12.125%, 09/01/18
2
|
|
|
260
|
|
|
|
262,600
|
|
|
|
0.3
|
|
San Pasqual Casino, Private Placement, 8.000%,
09/15/13
2
|
|
|
500
|
|
|
|
488,750
|
|
|
|
0.5
|
|
Seminole Hard Rock Entertainment, Inc., Private Placement, VAR, 2.847%, 03/15/14
2
|
|
|
500
|
|
|
|
445,000
|
|
|
|
0.5
|
|
Seminole Indian Tribe of Florida, Private Placement, 7.750%,
10/01/17
2
|
|
|
75
|
|
|
|
75,375
|
|
|
|
0.1
|
|
Seneca Gaming Corp., Private Placement, 8.250%,
12/01/18
2
|
|
|
175
|
|
|
|
168,437
|
|
|
|
0.2
|
|
Shingle Springs Tribal Gaming Authority, Private Placement, Sr Nt, 9.375%, 06/15/15
2,10
|
|
|
841
|
|
|
|
491,985
|
|
|
|
0.5
|
|
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., Private Placement, Secd Nt, 8.625%, 04/15/16
2
|
|
|
115
|
|
|
|
113,275
|
|
|
|
0.1
|
|
Yonkers Racing Corp., Private Placement, Secd Nt, 11.375%,
07/15/16
2
|
|
|
100
|
|
|
|
102,000
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,108,099
|
|
|
|
7.2
|
|
HOTELS, RESTAURANTS & LEISURE 3.1%
|
|
|
|
|
|
Banc of America Large Loan, Inc., Private Placement, Series 2010-HLTN, Class HLTN, VAR, 1.979%, 11/15/15
2
|
|
|
580
|
|
|
|
516,593
|
|
|
|
0.5
|
|
Burger King Corp., Sr Nt, Co Guar, 9.875%, 10/15/18
|
|
|
140
|
|
|
|
144,200
|
|
|
|
0.2
|
|
Cinemark USA, Inc., Sr Nt, Co Guar, 8.625%, 06/15/19
|
|
|
125
|
|
|
|
128,750
|
|
|
|
0.1
|
|
CKE Holdings, Inc., Private Placement, Nt, PIK, 10.500%,
03/14/16
2
|
|
|
100
|
|
|
|
87,827
|
|
|
|
0.1
|
|
CKE Restaurants, Inc., Sr Secd Nt, 11.375%, 07/15/18
|
|
|
327
|
|
|
|
340,080
|
|
|
|
0.3
|
|
Dave & Busters, Inc., 11.000%, 06/01/18
|
|
|
30
|
|
|
|
29,775
|
|
|
|
0.0
|
12
|
DineEquity, Inc., Sr Nt, Co Guar, 9.500%, 10/30/18
|
|
|
170
|
|
|
|
168,725
|
|
|
|
0.2
|
|
Landrys Holdings, Inc., Private Placement, 11.500%,
06/01/14
2
|
|
|
100
|
|
|
|
92,500
|
|
|
|
0.1
|
|
4
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOTELS, RESTAURANTS & LEISURE (continued)
|
|
|
|
|
|
Landrys Restaurants, Inc., Private Placement, Sr Secd Nt, 11.625%, 12/01/15
2
|
|
$
|
120
|
|
|
$
|
120,600
|
|
|
|
0.1
|
%
|
Landrys Restaurants, Inc., Sr Secd Nt, 11.625%, 12/01/15
|
|
|
200
|
|
|
|
201,000
|
|
|
|
0.2
|
|
Real Mex Restaurants, Inc., 14.000%, 01/01/13
|
|
|
200
|
|
|
|
147,000
|
|
|
|
0.2
|
|
Royal Caribbean Cruises Ltd., Sr Nt, (Liberia), 11.875%, 07/15/15
|
|
|
231
|
|
|
|
267,960
|
|
|
|
0.3
|
|
Sizzling Platter LLC, Private Placement, Sr Secd Nt, 12.250%, 04/15/16
2
|
|
|
50
|
|
|
|
49,250
|
|
|
|
0.1
|
|
Speedway Motorsports, Inc., Sr Nt, 8.750%, 06/01/16
|
|
|
300
|
|
|
|
312,750
|
|
|
|
0.3
|
|
Universal City Development Partners Ltd./UCDP Finance, Inc., 10.875%, 11/15/16
|
|
|
162
|
|
|
|
188,730
|
|
|
|
0.2
|
|
Wendys Co. (The) LLC, Nt, Co Guar, 10.000%, 07/15/16
|
|
|
200
|
|
|
|
210,500
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,006,240
|
|
|
|
3.1
|
|
HOUSEHOLD DURABLES 1.7%
|
|
|
|
|
|
American Standard Americas, Private Placement, 10.750%,
01/15/16
2
|
|
|
100
|
|
|
|
76,000
|
|
|
|
0.1
|
|
Beazer Homes USA, Inc., Nt, Co Guar, 6.875%, 07/15/15
|
|
|
240
|
|
|
|
162,000
|
|
|
|
0.2
|
|
K Hovnanian Enterprises, Inc., Sr Nt, 10.625%, 10/15/16
|
|
|
445
|
|
|
|
333,750
|
|
|
|
0.3
|
|
Lennar Corp., Nt, Co Guar, 12.250%, 06/01/17
|
|
|
90
|
|
|
|
99,000
|
|
|
|
0.1
|
|
Lennar Corp., Sr Nt, 6.950%, 06/01/18
|
|
|
410
|
|
|
|
364,900
|
|
|
|
0.4
|
|
M/I Homes, Inc., Co Guar, 8.625%, 11/15/18
|
|
|
225
|
|
|
|
202,500
|
|
|
|
0.2
|
|
Standard Pacific Corp., Secd Nt, 8.375%, 05/15/18
|
|
|
165
|
|
|
|
140,250
|
|
|
|
0.1
|
|
Standard Pacific Corp., Sr Nt, 10.750%, 09/15/16
|
|
|
210
|
|
|
|
205,800
|
|
|
|
0.2
|
|
Standard Pacific Corp., Sr Nt, Co Guar, 8.375%, 01/15/21
|
|
|
90
|
|
|
|
74,025
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,658,225
|
|
|
|
1.7
|
|
LEISURE EQUIPMENT & PRODUCTS 1.0%
|
|
|
|
|
|
Eastman Kodak Co., Private Placement, 9.750%,
03/01/18
2
|
|
|
740
|
|
|
|
518,000
|
|
|
|
0.5
|
|
FGI Holding Co., Inc., Co Guar, PIK, 13.000%, 10/01/15
|
|
|
238
|
|
|
|
232,231
|
|
|
|
0.3
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LEISURE EQUIPMENT & PRODUCTS (continued)
|
|
|
|
|
|
Icon Health & Fitness, Private Placement, 11.875%,
10/15/16
2
|
|
$
|
225
|
|
|
$
|
204,750
|
|
|
|
0.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
954,981
|
|
|
|
1.0
|
|
MEDIA 6.8%
|
|
|
|
|
|
Barrington Broadcasting Group LLC and Barrington Broadcasting Capital Corp., Sr Sub Nt, 10.500%, 08/15/14
|
|
|
700
|
|
|
|
658,000
|
|
|
|
0.7
|
|
Block Communications, Inc., Private Placement, Sr Nt, 8.250%, 12/15/15
2,10
|
|
|
800
|
|
|
|
802,000
|
|
|
|
0.8
|
|
Bresnan Broadband Holdings LLC, Private Placement, Co Guar, 8.000%, 12/15/18
2
|
|
|
125
|
|
|
|
125,937
|
|
|
|
0.1
|
|
Clear Channel Communications, Inc., Sr Secd Nt, 9.000%, 03/01/21
|
|
|
400
|
|
|
|
297,000
|
|
|
|
0.3
|
|
Clear Channel Worldwide Holdings, Inc., Sr Nt, 9.250%, 12/15/17
|
|
|
250
|
|
|
|
255,625
|
|
|
|
0.3
|
|
9.250%, 12/15/17
|
|
|
125
|
|
|
|
126,875
|
|
|
|
0.1
|
|
Fisher Communications, Inc., Sr Nt, 8.625%, 09/15/14
|
|
|
364
|
|
|
|
363,090
|
|
|
|
0.4
|
|
Gannett Co., Inc., Nt, Co Guar, 6.375%, 09/01/15
|
|
|
50
|
|
|
|
49,625
|
|
|
|
0.0
|
12
|
7.125%, 09/01/18
|
|
|
200
|
|
|
|
191,000
|
|
|
|
0.2
|
|
Intelsat Jackson Holdings S.A., Co Guar, (Luxembourg), 8.500%, 11/01/19
|
|
|
150
|
|
|
|
146,625
|
|
|
|
0.2
|
|
Intelsat Jackson Holdings S.A., Private Placement, (Luxembourg), 7.250%, 10/15/20
2
|
|
|
150
|
|
|
|
138,375
|
|
|
|
0.1
|
|
Intelsat Luxembourg S.A., (Luxembourg), PIK, 12.500%, 02/04/17
|
|
|
1,032
|
|
|
|
887,412
|
|
|
|
0.9
|
|
Intelsat Luxembourg S.A., Private Placement, Nt, Co Guar, (Luxembourg), PIK, 12.500%, 02/04/17
2
|
|
|
160
|
|
|
|
137,600
|
|
|
|
0.1
|
|
Lamar Media Corp., Sr Sub Nt, 6.625%, 08/15/15
|
|
|
125
|
|
|
|
122,813
|
|
|
|
0.1
|
|
McClatchy Co. (The), 11.500%, 02/15/17
|
|
|
200
|
|
|
|
173,500
|
|
|
|
0.2
|
|
Media General, Inc., 11.750%, 02/15/17
|
|
|
480
|
|
|
|
379,200
|
|
|
|
0.4
|
|
NAI Entertainment Holdings LLC, Private Placement, 8.250%,
12/15/17
2
|
|
|
100
|
|
|
|
103,000
|
|
|
|
0.1
|
|
Nexstar Broadcasting, Inc./Mission Broadcasting, Inc., 8.875%, 04/15/17
|
|
|
400
|
|
|
|
395,000
|
|
|
|
0.4
|
|
Nielsen Finance LLC/Nielsen Finance Co., Sr Nt, Co Guar, 7.750%, 10/15/18
|
|
|
50
|
|
|
|
51,000
|
|
|
|
0.1
|
|
5
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MEDIA (continued)
|
|
|
|
|
|
Radio One, Inc., Sr Sub Nt, Co Guar, PIK, 15.000%, 05/24/16
|
|
$
|
507
|
|
|
$
|
453,470
|
|
|
|
0.5
|
%
|
Regal Cinemas Corp., Nt, Co Guar, 8.625%, 07/15/19
|
|
|
100
|
|
|
|
101,750
|
|
|
|
0.1
|
|
Univision Communications, Inc., Private Placement, Sr Secd Nt, 6.875%, 05/15/19
2
|
|
|
300
|
|
|
|
267,000
|
|
|
|
0.3
|
|
Valassis Communications, Inc., Sr Nt,
Co Guar, 6.625%, 02/01/21
|
|
|
150
|
|
|
|
140,250
|
|
|
|
0.1
|
|
WMG Acquisition Corp., Private Placement, Co Guar,
11.500%, 10/01/18
2
|
|
|
195
|
|
|
|
179,400
|
|
|
|
0.2
|
|
WMG Acquisition Corp., Private Placement, Sr Secd Nt, 9.500%, 06/15/16
2
|
|
|
35
|
|
|
|
35,437
|
|
|
|
0.0
|
12
|
WMG Acquisition Corp., Sr Secd Nt, 9.500%, 06/15/16
|
|
|
100
|
|
|
|
101,250
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,682,234
|
|
|
|
6.8
|
|
MULTILINE RETAIL 0.6%
|
|
|
|
|
|
HSN, Inc., 11.250%, 08/01/16
|
|
|
323
|
|
|
|
353,685
|
|
|
|
0.4
|
|
Sears Holdings Corp., Sr Secd Nt, 6.625%, 10/15/18
|
|
|
250
|
|
|
|
206,250
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
559,935
|
|
|
|
0.6
|
|
SPECIALTY RETAIL 1.9%
|
|
|
|
|
|
Academy Ltd./Academy Finance Corp., Private Placement, Nt, Co Guar, 9.250%, 08/01/19
2
|
|
|
75
|
|
|
|
69,750
|
|
|
|
0.1
|
|
Claires Stores, Inc., Secd Nt, 8.875%, 03/15/19
|
|
|
480
|
|
|
|
345,600
|
|
|
|
0.3
|
|
Gymboree Corp., Co Guar, 9.125%, 12/01/18
|
|
|
378
|
|
|
|
279,720
|
|
|
|
0.3
|
|
J. Crew Group, Inc., Sr Nt, Co Guar, 8.125%, 03/01/19
|
|
|
175
|
|
|
|
146,562
|
|
|
|
0.1
|
|
Michaels Stores, Inc., Nt, Co Guar, 7.750%, 11/01/18
|
|
|
150
|
|
|
|
140,250
|
|
|
|
0.1
|
|
NBC Acquisition Corp., 11.000%, 03/15/13
1,4
|
|
|
270
|
|
|
|
2,700
|
|
|
|
0.0
|
12
|
Nebraska Book Co., Inc.,
|
|
|
|
|
|
|
|
|
|
|
|
|
8.625%, 03/15/12
1,4
|
|
|
370
|
|
|
|
144,300
|
|
|
|
0.2
|
|
10.000%, 12/01/11
|
|
|
345
|
|
|
|
303,600
|
|
|
|
0.3
|
|
Needle Merger Sub Corp., Private Placement, Sr Nt, 8.125%,
03/15/19
2
|
|
|
200
|
|
|
|
174,000
|
|
|
|
0.2
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SPECIALTY RETAIL (continued)
|
|
|
|
|
|
Toys R Us Property Co II LLC, Sr Secd Nt, 8.500%, 12/01/17
|
|
$
|
285
|
|
|
$
|
277,875
|
|
|
|
0.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,884,357
|
|
|
|
1.9
|
|
TEXTILES, APPAREL & LUXURY GOODS 1.1%
|
|
|
|
|
|
Broder Brothers Co., Private Placement, PIK, 12.000%,
10/15/13
2
|
|
|
461
|
|
|
|
454,109
|
|
|
|
0.4
|
|
Quiksilver, Inc., 6.875%, 04/15/15
|
|
|
748
|
|
|
|
665,720
|
|
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,119,829
|
|
|
|
1.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Discretionary
|
|
|
|
|
|
|
31,600,552
|
|
|
|
32.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER STAPLES 4.8%
|
|
|
|
|
|
BEVERAGES 0.3%
|
|
|
|
|
|
Constellation Brands, Inc., Sr Nt, 8.375%, 12/15/14
|
|
|
315
|
|
|
|
345,712
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOOD & STAPLES RETAILING 1.6%
|
|
|
|
|
|
Ingles Markets, Inc., 8.875%, 05/15/17
|
|
|
190
|
|
|
|
199,025
|
|
|
|
0.2
|
|
Rite Aid Corp., 9.500%, 06/15/17
|
|
|
1,000
|
|
|
|
790,000
|
|
|
|
0.8
|
|
Rite Aid Corp., Debentures, 7.500%, 03/01/17
|
|
|
600
|
|
|
|
573,000
|
|
|
|
0.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,562,025
|
|
|
|
1.6
|
|
FOOD PRODUCTS 1.6%
|
|
|
|
|
|
Blue Merger Sub, Inc., Private Placement, Sr Nt, 7.625%,
02/15/19
2
|
|
|
245
|
|
|
|
207,025
|
|
|
|
0.2
|
|
Eurofresh, Inc., 15.000%, 11/18/16
3,9
|
|
|
454
|
|
|
|
399,713
|
|
|
|
0.4
|
|
JBS USA LLC/JBS USA Finance, Inc., Private Placement, Sr Unsecd Nt, 7.250%, 06/01/21
2
|
|
|
590
|
|
|
|
486,750
|
|
|
|
0.5
|
|
Pilgrims Pride Corp., Private Placement, Co Guar, 7.875%,
12/15/18
2
|
|
|
278
|
|
|
|
211,975
|
|
|
|
0.2
|
|
Simmons Foods, Inc., Private Placement, 10.500%,
11/01/17
2
|
|
|
325
|
|
|
|
281,125
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,586,588
|
|
|
|
1.6
|
|
HOUSEHOLD PRODUCTS 0.6%
|
|
|
|
|
|
Spectrum Brands Holdings, Inc., PIK, 12.000%, 08/28/19
|
|
|
596
|
|
|
|
645,457
|
|
|
|
0.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERSONAL PRODUCTS 0.3%
|
|
|
|
|
|
American Achievement Corp., Private Placement, 10.875%,
04/15/16
2
|
|
|
360
|
|
|
|
273,600
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOBACCO 0.4%
|
|
|
|
|
|
Alliance One International, Inc., Nt, 10.000%, 07/15/16
|
|
$
|
440
|
|
|
$
|
363,000
|
|
|
|
0.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Staples
|
|
|
|
|
|
|
4,776,382
|
|
|
|
4.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ENERGY 12.2%
|
|
|
|
|
|
ENERGY EQUIPMENT & SERVICES 2.6%
|
|
|
|
|
|
Exterran Holdings, Inc., Private Placement, 7.250%,
12/01/18
2
|
|
|
230
|
|
|
|
220,800
|
|
|
|
0.2
|
|
Global Geophysical Services, Inc., 10.500%, 05/01/17
|
|
|
50
|
|
|
|
48,500
|
|
|
|
0.1
|
|
Helix Energy Solutions Group, Inc., Private Placement, 9.500%,
01/15/16
2,10
|
|
|
125
|
|
|
|
126,875
|
|
|
|
0.1
|
|
Key Energy Services, Inc., Nt, 6.750%, 03/01/21
|
|
|
165
|
|
|
|
158,813
|
|
|
|
0.2
|
|
McJunkin Red Man Corp., Sr Secd Nt, 9.500%, 12/15/16
|
|
|
305
|
|
|
|
279,075
|
|
|
|
0.3
|
|
Ocean Rig UDW, Inc., Sr Unsecd Nt, 9.500%, 04/27/16
|
|
|
500
|
|
|
|
435,000
|
|
|
|
0.4
|
|
Oil States International, Inc., Private Placement, Nt, Co Guar, 6.500%, 06/01/19
2
|
|
|
360
|
|
|
|
351,900
|
|
|
|
0.4
|
|
PHI, Inc., 8.625%, 10/15/18
|
|
|
310
|
|
|
|
305,350
|
|
|
|
0.3
|
|
Seadrill Ltd., (Bermuda), 6.500%, 10/05/15
|
|
|
300
|
|
|
|
276,000
|
|
|
|
0.3
|
|
Sevan Marine ASA, Private Placement, (Norway), VAR, 3.417%,
05/14/13
2
|
|
|
300
|
|
|
|
195,000
|
|
|
|
0.2
|
|
Trinidad Drilling Ltd., Private Placement, Sr Unsecd Nt, (Canada), 7.875%, 01/15/19
2
|
|
|
130
|
|
|
|
129,350
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,526,663
|
|
|
|
2.6
|
|
OIL, GAS & CONSUMABLE FUELS 9.6%
|
|
|
|
|
|
Alpha Natural Resources, Inc., Co Guar, 6.000%, 06/01/19
|
|
|
200
|
|
|
|
186,500
|
|
|
|
0.2
|
|
Alta Mesa Holdings/Alta Mesa Finance Services Corp., Co Guar, 9.625%, 10/15/18
|
|
|
240
|
|
|
|
218,400
|
|
|
|
0.2
|
|
AmeriGas Partners LP/AmeriGas Finance Corp., 6.500%, 05/20/21
|
|
|
145
|
|
|
|
139,925
|
|
|
|
0.1
|
|
Antero Resources Finance Corp., Nt, 9.375%, 12/01/17
|
|
|
102
|
|
|
|
106,080
|
|
|
|
0.1
|
|
Arch Coal, Inc., 7.250%, 10/01/20
|
|
|
80
|
|
|
|
76,800
|
|
|
|
0.1
|
|
Arch Coal, Inc., Private Placement,
Co Guar, 7.000%,
06/15/19
2
|
|
|
200
|
|
|
|
190,000
|
|
|
|
0.2
|
|
7.250%, 06/15/21
2
|
|
|
200
|
|
|
|
192,500
|
|
|
|
0.2
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OIL, GAS & CONSUMABLE FUELS (continued)
|
|
|
|
|
|
Bill Barrett Corp., 9.875%, 07/15/16
|
|
$
|
150
|
|
|
$
|
163,500
|
|
|
|
0.2
|
%
|
Bill Barrett Corp., Sr Nt, Co Guar, 7.625%, 10/01/19
|
|
|
130
|
|
|
|
127,725
|
|
|
|
0.1
|
|
Brigham Exploration Co., Co Guar, 8.750%, 10/01/18
|
|
|
125
|
|
|
|
133,750
|
|
|
|
0.1
|
|
Brigham Exploration Co., Sr Nt, Co Guar, 6.875%, 06/01/19
|
|
|
85
|
|
|
|
82,875
|
|
|
|
0.1
|
|
Calumet Specialty Products Partners LP/Calumet Finance Corp., Private Placement, Nt, Co Guar, 9.375%, 05/01/19
2
|
|
|
100
|
|
|
|
93,000
|
|
|
|
0.1
|
|
Calumet Specialty Products Partners LP/Calumet Finance Corp., Private Placement, Sr Unsecd Nt, 9.375%, 05/01/19
2
|
|
|
125
|
|
|
|
115,000
|
|
|
|
0.1
|
|
Citgo Petroleum Corp., Private Placement, Sr Nt, 11.500%,
07/01/17
2
|
|
|
300
|
|
|
|
339,000
|
|
|
|
0.3
|
|
Comstock Resources, Inc., 7.750%, 04/01/19
|
|
|
75
|
|
|
|
70,125
|
|
|
|
0.1
|
|
Comstock Resources, Inc., Sr Nt, 8.375%, 10/15/17
|
|
|
406
|
|
|
|
389,760
|
|
|
|
0.4
|
|
Concho Resources, Inc., Co Guar, 6.500%, 01/15/22
|
|
|
230
|
|
|
|
226,550
|
|
|
|
0.2
|
|
Consol Energy, Inc., 8.000%, 04/01/17
|
|
|
170
|
|
|
|
177,650
|
|
|
|
0.2
|
|
8.250%, 04/01/20
|
|
|
125
|
|
|
|
131,562
|
|
|
|
0.1
|
|
Continental Resources, Inc., 7.125%, 04/01/21
|
|
|
75
|
|
|
|
75,750
|
|
|
|
0.1
|
|
Eagle Rock Energy Partners LP/Eagle Rock Energy Finance Corp., Private Placement, Co Guar, 8.375%, 06/01/19
2
|
|
|
300
|
|
|
|
288,000
|
|
|
|
0.3
|
|
El Paso Pipeline Partners Operating Co., LLC, 6.500%, 04/01/20
|
|
|
85
|
|
|
|
93,565
|
|
|
|
0.1
|
|
Energy XXI Gulf Coast, Inc., Sr Nt,
Co Guar, 7.750%, 06/15/19
|
|
|
175
|
|
|
|
158,375
|
|
|
|
0.2
|
|
Ferrellgas LP/Ferrellgas Finance Corp., Sr Unsecd Nt, 6.500%, 05/01/21
|
|
|
50
|
|
|
|
42,500
|
|
|
|
0.0
|
12
|
Foresight Energy LLC/Foresight Energy Corp., Private Placement, 9.625%, 08/15/17
2
|
|
|
180
|
|
|
|
181,800
|
|
|
|
0.2
|
|
Forest Oil Corp., Nt, 7.250%, 06/15/19
|
|
|
269
|
|
|
|
264,965
|
|
|
|
0.3
|
|
Hilcorp Energy I LP/Hilcorp Finance Co., Private Placement, 7.625%, 04/15/21
2
|
|
|
75
|
|
|
|
75,375
|
|
|
|
0.1
|
|
7
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OIL, GAS & CONSUMABLE FUELS (continued)
|
|
|
|
|
|
Holly Energy Partners LP/Holly Energy Finance Corp., Sr Unsecd Nt, 8.250%, 03/15/18
|
|
$
|
130
|
|
|
$
|
135,850
|
|
|
|
0.1
|
%
|
HollyFrontier Corp., Nt, 9.875%, 06/15/17
|
|
|
70
|
|
|
|
75,600
|
|
|
|
0.1
|
|
Inergy LP/Inergy Finance Corp., Co Guar, 6.875%, 08/01/21
|
|
|
100
|
|
|
|
91,000
|
|
|
|
0.1
|
|
Inergy LP/Inergy Finance Corp., Co Guar, Sr Nt, 7.000%, 10/01/18
|
|
|
250
|
|
|
|
235,000
|
|
|
|
0.2
|
|
Linn Energy LLC/Linn Energy Finance Corp., Private Placement, Co Guar, 6.500%, 05/15/19
2
|
|
|
145
|
|
|
|
133,400
|
|
|
|
0.1
|
|
MarkWest Energy Partners LP/MarkWest Energy Finance Corp., 6.750%, 11/01/20
|
|
|
150
|
|
|
|
152,250
|
|
|
|
0.2
|
|
NFR Energy LLC/NFR Energy Finance Corp., Private Placement, 9.750%, 02/15/17
2
|
|
|
360
|
|
|
|
316,800
|
|
|
|
0.3
|
|
Patriot Coal Corp., 8.250%, 04/30/18
|
|
|
125
|
|
|
|
111,250
|
|
|
|
0.1
|
|
Penn Virginia Corp., 10.375%, 06/15/16
|
|
|
21
|
|
|
|
21,997
|
|
|
|
0.0
|
12
|
Penn Virginia Corp., Co Guar, 7.250%, 04/15/19
|
|
|
85
|
|
|
|
78,625
|
|
|
|
0.1
|
|
Penn Virginia Resource Partners LP/
Penn Virginia Resource Finance Corp., Sr Nt, 8.250%, 04/15/18
|
|
|
60
|
|
|
|
57,000
|
|
|
|
0.1
|
|
PetroHawk Energy Corp., Sr Nt, Co Guar, 6.250%, 06/01/19
|
|
|
260
|
|
|
|
295,100
|
|
|
|
0.3
|
|
Pioneer Drilling Co., 9.875%, 03/15/18
|
|
|
120
|
|
|
|
125,400
|
|
|
|
0.1
|
|
QEP Resources, Inc., 6.875%, 03/01/21
|
|
|
140
|
|
|
|
146,300
|
|
|
|
0.2
|
|
Range Resources Corp., 6.750%, 08/01/20
|
|
|
20
|
|
|
|
21,300
|
|
|
|
0.0
|
12
|
7.250%, 05/01/18
|
|
|
25
|
|
|
|
26,625
|
|
|
|
0.1
|
|
Regency Energy Partners LP/Regency Energy Finance Corp., Co Guar, 6.500%, 07/15/21
|
|
|
320
|
|
|
|
321,600
|
|
|
|
0.3
|
|
SM Energy Co., Private Placement, 6.625%,
02/15/19
2
|
|
|
130
|
|
|
|
129,350
|
|
|
|
0.1
|
|
Swift Energy Co., 8.875%, 01/15/20
|
|
|
100
|
|
|
|
105,000
|
|
|
|
0.1
|
|
Swift Energy Co., Sr Nt, 7.125%, 06/01/17
10
|
|
|
1,260
|
|
|
|
1,234,800
|
|
|
|
1.3
|
|
Targa Resources Partners LP/Targa Resources Partners Finance Corp., 8.250%, 07/01/16
|
|
|
280
|
|
|
|
291,200
|
|
|
|
0.3
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OIL, GAS & CONSUMABLE FUELS (continued)
|
|
|
|
|
|
Targa Resources Partners LP/Targa Resources Partners Finance Corp.,
Co Guar, 7.875%, 10/15/18
|
|
$
|
130
|
|
|
$
|
131,300
|
|
|
|
0.1
|
%
|
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Private Placement, 6.875%, 02/01/21
2
|
|
|
200
|
|
|
|
192,000
|
|
|
|
0.2
|
|
Unit Corp., Co Guar, 6.625%, 05/15/21
|
|
|
70
|
|
|
|
69,650
|
|
|
|
0.1
|
|
Venoco, Inc., Sr Nt, Co Guar, 8.875%, 02/15/19
|
|
|
225
|
|
|
|
193,500
|
|
|
|
0.2
|
|
W&T Offshore, Inc., Private Placement,
Sr Nt, 8.500%,
06/15/19
2
|
|
|
235
|
|
|
|
227,950
|
|
|
|
0.2
|
|
Western Refining, Inc., Private Placement, VAR, 10.750%,
06/15/14
2
|
|
|
225
|
|
|
|
235,688
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,496,567
|
|
|
|
9.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Energy
|
|
|
|
|
|
|
12,023,230
|
|
|
|
12.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIALS 12.0%
|
|
|
|
|
|
CAPITAL MARKETS 0.1%
|
|
|
|
|
|
Oppenheimer Holdings, Inc., Sr Secd Nt, 8.750%, 04/15/18
|
|
|
135
|
|
|
|
131,625
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL BANKS 2.3%
|
|
|
|
|
|
Bank of America Corp., VAR,
8.125%, 05/15/18
14
|
|
|
665
|
|
|
|
565,350
|
|
|
|
0.6
|
|
VAR, 8.000%, 01/30/18
14
|
|
|
660
|
|
|
|
561,099
|
|
|
|
0.6
|
|
BankAmerica Capital II, Nt, 8.000%, 12/15/26
|
|
|
30
|
|
|
|
27,900
|
|
|
|
0.0
|
12
|
BankAmerica Institutional Capital B, Private Placement, 7.700%, 12/31/26
2
|
|
|
250
|
|
|
|
225,000
|
|
|
|
0.2
|
|
Barclays Bank plc, Private Placement, (United Kingdom), VAR, 7.434%, 12/15/17
2,14
|
|
|
600
|
|
|
|
492,000
|
|
|
|
0.5
|
|
Wachovia Capital Trust III, VAR,
5.570%, 08/01/11
14
|
|
|
495
|
|
|
|
405,900
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,277,249
|
|
|
|
2.3
|
|
CONSUMER FINANCE 1.3%
|
|
|
|
|
|
Ally Financial, Inc., 8.000%, 11/01/31
|
|
|
842
|
|
|
|
738,855
|
|
|
|
0.8
|
|
Springleaf Finance Corp., 6.900%, 12/15/17
|
|
|
700
|
|
|
|
504,000
|
|
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,242,855
|
|
|
|
1.3
|
|
8
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES 4.0%
|
|
|
|
|
|
ACE Cash Express, Inc., Private Placement, 11.000%,
02/01/19
2
|
|
$
|
495
|
|
|
$
|
439,312
|
|
|
|
0.4
|
%
|
Aircastle Ltd., Sr Nt, (Bermuda), 9.750%, 08/01/18
|
|
|
75
|
|
|
|
77,250
|
|
|
|
0.1
|
|
CIT Group, Inc., Private Placement, Secd Nt, 7.000%,
05/02/17
2
|
|
|
760
|
|
|
|
737,200
|
|
|
|
0.7
|
|
CNG Holdings, Inc., Private Placement, 12.250%,
02/15/15
2
|
|
|
140
|
|
|
|
145,600
|
|
|
|
0.1
|
|
13.750%, 08/15/15
2
|
|
|
250
|
|
|
|
260,625
|
|
|
|
0.3
|
|
Community Choice Financial, Inc., Private Placement, Sr Secd Nt, 10.750%, 05/01/19
2
|
|
|
165
|
|
|
|
160,050
|
|
|
|
0.2
|
|
Deluxe Corp., Private Placement, 7.000%,
03/15/19
2
|
|
|
156
|
|
|
|
150,540
|
|
|
|
0.2
|
|
ILFC E-Capital Trust I, Private Placement, VAR, 4.770%,
12/21/65
2
|
|
|
950
|
|
|
|
660,440
|
|
|
|
0.7
|
|
ILFC E-Capital Trust II, Private Placement, VAR, 6.250%,
12/21/65
2
|
|
|
520
|
|
|
|
384,800
|
|
|
|
0.4
|
|
International Lease Finance Corp., 8.875%, 09/01/17
|
|
|
300
|
|
|
|
301,500
|
|
|
|
0.3
|
|
Lender Processing Services, Inc.,
Co Guar, 8.125%, 07/01/16
|
|
|
110
|
|
|
|
103,400
|
|
|
|
0.1
|
|
SquareTwo Financial Corp., Sr Secd Nt, 11.625%, 04/01/17
|
|
|
417
|
|
|
|
396,150
|
|
|
|
0.4
|
|
Tops Holding Corp./Tops Markets LLC, 10.125%, 10/15/15
|
|
|
115
|
|
|
|
115,000
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,931,867
|
|
|
|
4.0
|
|
INSURANCE 3.2%
|
|
|
|
|
|
American International Group, Inc., VAR, 8.175%, 05/15/58
|
|
|
470
|
|
|
|
414,775
|
|
|
|
0.4
|
|
CNO Financial Group, Inc., Private Placement, Sr Secd Nt, 9.000%, 01/15/18
2
|
|
|
200
|
|
|
|
207,000
|
|
|
|
0.2
|
|
Hartford Financial Services Group, Inc., Sub Nt, VAR, 8.125%, 06/15/38
|
|
|
100
|
|
|
|
94,000
|
|
|
|
0.1
|
|
HUB International Holdings, Inc., Private Placement, 10.250%,
06/15/15
2,10
|
|
|
450
|
|
|
|
416,250
|
|
|
|
0.4
|
|
Liberty Mutual Group, Inc., Private Placement, VAR, 10.750%,
06/15/58
2
|
|
|
1,045
|
|
|
|
1,243,550
|
|
|
|
1.3
|
|
Liberty Mutual Group, Inc., Private Placement, Sub Nt, Co Guar, 7.800%, 03/15/37
2
|
|
|
250
|
|
|
|
218,750
|
|
|
|
0.2
|
|
Stoneheath RE, Sub Nt, (Cayman Islands), VAR, 6.868%,
10/15/11
14
|
|
|
250
|
|
|
|
216,250
|
|
|
|
0.2
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INSURANCE (continued)
|
|
|
|
|
|
USI Holdings Corp., Private Placement,
Sr Sub Nt, 9.750%,
05/15/15
2
|
|
$
|
280
|
|
|
$
|
252,000
|
|
|
|
0.3
|
%
|
XL Group plc, Sub Nt, (Ireland), VAR, 6.500%,
04/15/17
14
|
|
|
110
|
|
|
|
86,350
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,148,925
|
|
|
|
3.2
|
|
REAL ESTATE INVESTMENT TRUSTS (REITs) 0.9%
|
|
|
|
|
|
Aviv Healthcare Properties LP/Aviv Healthcare Capital Corp., Co Guar, 7.750%, 02/15/19
|
|
|
220
|
|
|
|
207,350
|
|
|
|
0.2
|
|
CB Richard Ellis Services, Inc., 6.625%, 10/15/20
|
|
|
150
|
|
|
|
144,000
|
|
|
|
0.1
|
|
CNL Lifestyle Properties, Inc., Sr Nt, Co Guar, 7.250%, 04/15/19
|
|
|
285
|
|
|
|
245,100
|
|
|
|
0.3
|
|
DuPont Fabros Technology LP, Nt, 8.500%, 12/15/17
|
|
|
105
|
|
|
|
108,675
|
|
|
|
0.1
|
|
First Industrial LP, Sr Nt, 6.420%, 06/01/14
|
|
|
180
|
|
|
|
184,032
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
889,157
|
|
|
|
0.9
|
|
REAL ESTATE MANAGEMENT & DEVELOPMENT 0.2%
|
|
|
|
|
|
Kennedy-Wilson, Inc., Private Placement, 8.750%,
04/01/19
2
|
|
|
160
|
|
|
|
149,200
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Financials
|
|
|
|
|
|
|
11,770,878
|
|
|
|
12.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE 6.3%
|
|
|
|
|
|
HEALTH CARE PROVIDERS & SERVICES 4.0%
|
|
|
|
|
|
Capella Healthcare, Inc., Private Placement, 9.250%,
07/01/17
2
|
|
|
165
|
|
|
|
156,750
|
|
|
|
0.2
|
|
CDRT Merger Sub, Inc., Private Placement, Co Guar,
8.125%, 06/01/19
2
|
|
|
225
|
|
|
|
208,125
|
|
|
|
0.2
|
|
CHS/Community Health Systems, Inc., Co Guar, 8.875%, 07/15/15
|
|
|
336
|
|
|
|
330,120
|
|
|
|
0.3
|
|
HCA, Inc., 5.750%, 03/15/14
10
|
|
|
195
|
|
|
|
190,125
|
|
|
|
0.2
|
|
HCA, Inc., Co Guar, 7.500%, 02/15/22
|
|
|
500
|
|
|
|
461,250
|
|
|
|
0.5
|
|
HCA, Inc., Sr Unsecd Nt, 8.000%, 10/01/18
|
|
|
180
|
|
|
|
175,725
|
|
|
|
0.2
|
|
IASIS Healthcare LLC/IASIS Capital Corp., Private Placement, Sr Nt, 8.375%, 05/15/19
2
|
|
|
1,000
|
|
|
|
810,000
|
|
|
|
0.8
|
|
inVentiv Health, Inc., Private Placement, Sr Nt, 10.000%,
08/15/18
2
|
|
|
250
|
|
|
|
220,000
|
|
|
|
0.2
|
|
Multiplan, Inc., Private Placement, Nt,
9.875%, 09/01/18
2
|
|
|
450
|
|
|
|
445,500
|
|
|
|
0.4
|
|
9
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE PROVIDERS & SERVICES (continued)
|
|
|
|
|
|
OnCure Holdings, Inc., 11.750%, 05/15/17
|
|
$
|
395
|
|
|
$
|
349,575
|
|
|
|
0.4
|
%
|
Radiation Therapy Services, Inc., 9.875%, 04/15/17
|
|
|
225
|
|
|
|
191,813
|
|
|
|
0.2
|
|
Tenet Healthcare Corp., 8.875%, 07/01/19
10
|
|
|
250
|
|
|
|
264,375
|
|
|
|
0.3
|
|
Vanguard Health Holding Co. II LLC/Vanguard Holding Co. II Inc, Co Guar, 7.750%, 02/01/19
|
|
|
100
|
|
|
|
89,125
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,892,483
|
|
|
|
4.0
|
|
PHARMACEUTICALS 2.3%
|
|
|
|
|
|
Catalent Pharma Solutions, Inc., Nt, PIK, 9.500%, 04/15/15
|
|
|
152
|
|
|
|
139,021
|
|
|
|
0.2
|
|
Celtic Pharma Phinco B.V., (Bermuda), PIK, 17.000%,
06/15/12
3,9
|
|
|
2,024
|
|
|
|
792,053
|
|
|
|
0.8
|
|
Elan Finance plc/Elan Finance Corp., Nt, Co Guar, (Ireland), 8.750%, 10/15/16
|
|
|
500
|
|
|
|
517,500
|
|
|
|
0.5
|
|
Elan Finance plc/Elan Finance Corp., (Ireland), 8.750%, 10/15/16
|
|
|
500
|
|
|
|
517,500
|
|
|
|
0.5
|
|
Endo Pharmaceuticals Holdings, Inc., Private Placement, Nt, Co Guar,
|
|
|
|
|
|
|
|
|
|
|
|
|
7.000%, 07/15/19
2
|
|
|
75
|
|
|
|
75,281
|
|
|
|
0.1
|
|
7.250%, 01/15/22
2
|
|
|
100
|
|
|
|
100,250
|
|
|
|
0.1
|
|
Giant Funding Corp., Private Placement, 8.250%,
02/01/18
2
|
|
|
100
|
|
|
|
100,000
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,241,605
|
|
|
|
2.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Health Care
|
|
|
|
|
|
|
6,134,088
|
|
|
|
6.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIALS 13.1%
|
|
|
|
|
|
AEROSPACE & DEFENSE 1.2%
|
|
|
|
|
|
Colt Defense LLC/Colt Finance Corp.,
Sr Unsecd Nt, 8.750%, 11/15/17
|
|
|
67
|
|
|
|
44,387
|
|
|
|
0.0
|
12
|
CPI International, Inc., Sr Nt, Co Guar, 8.000%, 02/15/18
|
|
|
250
|
|
|
|
225,000
|
|
|
|
0.2
|
|
Ducommun, Inc., Private Placement,
Sr Nt, 9.750%,
07/15/18
2
|
|
|
250
|
|
|
|
250,000
|
|
|
|
0.3
|
|
Huntington Ingalls Industries, Inc., Private Placement,
|
|
|
|
|
|
|
|
|
|
|
|
|
6.875%, 03/15/18
2
|
|
|
165
|
|
|
|
153,450
|
|
|
|
0.1
|
|
7.125%, 03/15/21
2
|
|
|
90
|
|
|
|
83,475
|
|
|
|
0.1
|
|
Kratos Defense & Security Solutions, Inc., 10.000%, 06/01/17
|
|
|
370
|
|
|
|
368,150
|
|
|
|
0.4
|
|
Triumph Group, Inc., 8.625%, 07/15/18
|
|
|
80
|
|
|
|
85,200
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,209,662
|
|
|
|
1.2
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AIRLINES 1.3%
|
|
|
|
|
|
American Airlines Pass Through Trust 2001-01, 7.377%, 05/23/19
|
|
$
|
299
|
|
|
$
|
197,138
|
|
|
|
0.2
|
%
|
Continental Airlines 2005-ERJ1 Pass Through Trust, 9.798%,
04/01/21
10
|
|
|
709
|
|
|
|
705,689
|
|
|
|
0.7
|
|
UAL 2007-1 Pass Through Trust, Private Placement,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 2.647%, 07/02/14
|
|
|
100
|
|
|
|
90,934
|
|
|
|
0.1
|
|
7.336%, 07/02/19
|
|
|
81
|
|
|
|
72,586
|
|
|
|
0.1
|
|
UAL 2009-2B Pass Through Trust, Private Placement,
12.000%, 01/15/16
2
|
|
|
171
|
|
|
|
181,021
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,247,368
|
|
|
|
1.3
|
|
BUILDING PRODUCTS 0.2%
|
|
|
|
|
|
Nortek, Inc., Private Placement, Co Guar, 8.500%,
04/15/21
2
|
|
|
235
|
|
|
|
189,175
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL SERVICES & SUPPLIES 2.3%
|
|
|
|
|
|
B-Corp. Merger Sub, Inc., Private Placement, Sr Nt, 8.250%,
06/01/19
2
|
|
|
200
|
|
|
|
180,000
|
|
|
|
0.2
|
|
Cenveo Corp., Nt, 8.875%, 02/01/18
|
|
|
375
|
|
|
|
295,312
|
|
|
|
0.3
|
|
Cenveo Corp., Private Placement,
10.500%, 08/15/16
2
|
|
|
65
|
|
|
|
52,000
|
|
|
|
0.0
|
12
|
Garda World Security Corp., Private Placement, (Canada), 9.750%, 03/15/17
2
|
|
|
180
|
|
|
|
183,600
|
|
|
|
0.2
|
|
Harland Clarke Holdings Corp.,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 6.000%, 05/15/15
10
|
|
|
447
|
|
|
|
295,020
|
|
|
|
0.3
|
|
9.500%, 05/15/15
|
|
|
40
|
|
|
|
29,600
|
|
|
|
0.0
|
12
|
Iron Mountain, Inc., 8.375%, 08/15/21
|
|
|
250
|
|
|
|
255,000
|
|
|
|
0.2
|
|
Iron Mountain, Inc., Co Guar, 7.750%, 10/01/19
|
|
|
100
|
|
|
|
99,250
|
|
|
|
0.1
|
|
Liberty Tire Recycling, Private Placement, Nt, 11.000%,
10/01/16
2
|
|
|
275
|
|
|
|
280,500
|
|
|
|
0.3
|
|
Mobile Mini, Inc., Sr Nt, Co Guar, 7.875%, 12/01/20
|
|
|
200
|
|
|
|
192,000
|
|
|
|
0.2
|
|
Quebecor World Capital Escrow Corp., (Canada),
|
|
|
|
|
|
|
|
|
|
|
|
|
6.125%, 11/15/13
1,4
|
|
|
1,415
|
|
|
|
29,715
|
|
|
|
0.1
|
|
6.500%, 08/01/27
1,4
|
|
|
810
|
|
|
|
17,010
|
|
|
|
0.0
|
12
|
9.750%, 01/15/15
1,4
|
|
|
585
|
|
|
|
12,285
|
|
|
|
0.0
|
12
|
R.R. Donnelley & Sons Co., Sr Unsecd Nt,
|
|
|
|
|
|
|
|
|
|
|
|
|
7.250%, 05/15/18
|
|
|
125
|
|
|
|
112,969
|
|
|
|
0.1
|
|
7.625%, 06/15/20
|
|
|
200
|
|
|
|
177,500
|
|
|
|
0.2
|
|
10
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL SERVICES & SUPPLIES (continued)
|
|
|
|
|
|
WCA Waste Corp., Private Placement,
Co Guar, 7.500%,
06/15/19
2
|
|
$
|
100
|
|
|
$
|
95,000
|
|
|
|
0.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,306,761
|
|
|
|
2.3
|
|
CONSTRUCTION & ENGINEERING 1.7%
|
|
|
|
|
|
Goodman Networks, Inc., Private Placement, Sr Secd Nt, 12.125%, 07/01/18
2
|
|
|
320
|
|
|
|
299,200
|
|
|
|
0.3
|
|
Great Lakes Dredge & Dock Corp.,
Co Guar, 7.375%, 02/01/19
|
|
|
50
|
|
|
|
46,000
|
|
|
|
0.1
|
|
New Enterprise Stone & Lime Co., Private Placement, Co Guar, 11.000%, 09/01/18
2
|
|
|
750
|
|
|
|
594,375
|
|
|
|
0.6
|
|
Production Resource Group, Inc., Private Placement, Co Guar, 8.875%, 05/01/19
2
|
|
|
125
|
|
|
|
112,813
|
|
|
|
0.1
|
|
RSC Equipment Rental, Inc./RSC Holdings III LLC, Sr Nt, 9.500%,
12/01/14
10
|
|
|
271
|
|
|
|
269,645
|
|
|
|
0.3
|
|
RSC Equipment Rental, Inc./RSC Holdings III LLC, Sr Nt, Co Guar, 8.250%, 02/01/21
|
|
|
160
|
|
|
|
138,400
|
|
|
|
0.1
|
|
Tutor Perini Corp., Co Guar, 7.625%, 11/01/18
|
|
|
150
|
|
|
|
128,250
|
|
|
|
0.1
|
|
United Rentals North America, Inc., 10.875%, 06/15/16
|
|
|
80
|
|
|
|
86,400
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,675,083
|
|
|
|
1.7
|
|
ELECTRICAL EQUIPMENT 0.5%
|
|
|
|
|
|
Belden, Inc., Sr Sub Nt, Co Guar, 9.250%, 06/15/19
|
|
|
125
|
|
|
|
135,000
|
|
|
|
0.1
|
|
General Cable Corp., VAR, 2.621%, 04/01/15
|
|
|
250
|
|
|
|
235,000
|
|
|
|
0.3
|
|
International Wire Group, Inc., Private Placement, 9.750%,
04/15/15
2
|
|
|
100
|
|
|
|
98,250
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
468,250
|
|
|
|
0.5
|
|
ENVIRONMENTAL SERVICES 0.1%
|
|
|
|
|
|
Casella Waste Systems, Inc., Private Placement, Nt, 7.750%,
02/15/19
2
|
|
|
90
|
|
|
|
85,050
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIAL CONGLOMERATES 0.3%
|
|
|
|
|
|
Dynacast International LLC/Dynacast Finance, Inc., Private Placement, Secd Nt, 9.250%, 07/15/19
2
|
|
|
100
|
|
|
|
90,500
|
|
|
|
0.1
|
|
JB Poindexter & Co., Inc., Co. Guar,
8.750%, 03/15/14
10
|
|
|
184
|
|
|
|
182,160
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
272,660
|
|
|
|
0.3
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MACHINERY 0.9%
|
|
|
|
|
|
Boart Longyear Management Pty Ltd., Private Placement, Co Guar, (Australia), 7.000%, 04/01/21
2
|
|
$
|
60
|
|
|
$
|
59,400
|
|
|
|
0.1
|
%
|
Columbus McKinnon Corp., Co Guar, 7.875%, 02/01/19
|
|
|
180
|
|
|
|
174,600
|
|
|
|
0.2
|
|
CPM Holdings, Inc., Sr Secd Nt, 10.625%, 09/01/14
|
|
|
55
|
|
|
|
58,300
|
|
|
|
0.0
|
12
|
Thermadyne Holdings Corp., Sr Secd Nt, 9.000%, 12/15/17
|
|
|
525
|
|
|
|
514,500
|
|
|
|
0.5
|
|
Titan International, Inc., Sr Secd Nt, 7.875%, 10/01/17
|
|
|
125
|
|
|
|
130,000
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
936,800
|
|
|
|
0.9
|
|
MARINE 2.2%
|
|
|
|
|
|
ACL I Corp., Private Placement, PIK,
10.625%, 02/15/16
2
|
|
|
317
|
|
|
|
247,308
|
|
|
|
0.3
|
|
Bluewater Holding BV, Private Placement, Nt, (Netherlands), VAR, 3.250%, 07/17/14
2
|
|
|
400
|
|
|
|
296,000
|
|
|
|
0.3
|
|
CMA CGM S.A., Private Placement,
Sr Unsecd Nt, (France), 8.500%, 04/15/17
2
|
|
|
575
|
|
|
|
232,875
|
|
|
|
0.2
|
|
Commercial Barge Line Co., Sr Nt, 12.500%, 07/15/17
|
|
|
350
|
|
|
|
371,875
|
|
|
|
0.4
|
|
General Maritime Corp., Sr Nt, 12.000%, 11/15/17
|
|
|
364
|
|
|
|
130,130
|
|
|
|
0.1
|
|
Navios Maritime Acquisition Corp./Navios Acquisition Finance U.S., Inc., Sr Secd Nt, 8.625%, 11/01/17
|
|
|
81
|
|
|
|
67,432
|
|
|
|
0.1
|
|
Navios Maritime Holdings, Inc./Navios Maritime Finance U.S., Inc., 8.875%, 11/01/17
|
|
|
377
|
|
|
|
367,575
|
|
|
|
0.4
|
|
Navios South American Logisitcs, Inc./Navios Logistics Finance U.S., Inc., Private Placement, Co Guar, 9.250%, 04/15/19
2
|
|
|
125
|
|
|
|
109,063
|
|
|
|
0.1
|
|
Ultrapetrol Bahamas Ltd., 1st Mtg, (Bahamas),
9.000%, 11/24/14
10
|
|
|
310
|
|
|
|
299,150
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,121,408
|
|
|
|
2.2
|
|
ROAD & RAIL 2.4%
|
|
|
|
|
|
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.250%, 01/15/19
|
|
|
150
|
|
|
|
137,250
|
|
|
|
0.1
|
|
9.625%, 03/15/18
|
|
|
240
|
|
|
|
237,600
|
|
|
|
0.3
|
|
Hertz Corp. (The), Sr Nt, Co Guar, 6.750%, 04/15/19
|
|
|
125
|
|
|
|
113,438
|
|
|
|
0.1
|
|
11
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ROAD & RAIL (continued)
|
|
|
|
|
|
Kansas City Southern de Mexico S.A. de C.V., Sr Unsecd Nt, (Mexico), 6.125%, 06/15/21
|
|
$
|
75
|
|
|
$
|
74,250
|
|
|
|
0.1
|
%
|
6.625%, 12/15/20
|
|
|
113
|
|
|
|
116,390
|
|
|
|
0.1
|
|
Kansas City Southern Railway, Sr Nt, 8.000%, 06/01/15
|
|
|
156
|
|
|
|
165,945
|
|
|
|
0.2
|
|
Quality Distribution LLC/QD Capital Corp., Secd Nt, 9.875%, 11/01/18
|
|
|
1,100
|
|
|
|
1,061,500
|
|
|
|
1.1
|
|
RailAmerica, Inc., 9.250%, 07/01/17
|
|
|
400
|
|
|
|
433,000
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,339,373
|
|
|
|
2.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Industrials
|
|
|
|
|
|
|
12,851,590
|
|
|
|
13.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INFORMATION TECHNOLOGY 6.1%
|
|
|
|
|
|
COMMUNICATIONS EQUIPMENT 1.0%
|
|
|
|
|
|
Avaya, Inc., Private Placement,
7.000%, 04/01/19
2
|
|
|
260
|
|
|
|
221,000
|
|
|
|
0.2
|
|
Avaya, Inc., Sr Nt, 9.750%, 11/01/15
|
|
|
500
|
|
|
|
365,000
|
|
|
|
0.4
|
|
Brightstar Corp., Private Placement,
9.500%, 12/01/16
2
|
|
|
260
|
|
|
|
265,200
|
|
|
|
0.2
|
|
EH Holding Corp., Private Placement, Sr Unsecd Nt, 7.625%, 06/15/21
2
|
|
|
85
|
|
|
|
81,813
|
|
|
|
0.1
|
|
EH Holding Corp., Private Placement, Sr Secd Nt, 6.500%, 06/15/19
2
|
|
|
88
|
|
|
|
84,700
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,017,713
|
|
|
|
1.0
|
|
COMPUTERS & PERIPHERALS 0.9%
|
|
|
|
|
|
Seagate HDD Cayman, Sr Nt, (Cayman Islands), 6.875%, 05/01/20
|
|
|
170
|
|
|
|
156,400
|
|
|
|
0.2
|
|
Seagate HDD Cayman, Private Placement, Co Guar, (Cayman Islands), 7.750%, 12/15/18
2
|
|
|
450
|
|
|
|
441,000
|
|
|
|
0.4
|
|
Stratus Technologies Bermuda Ltd./Stratus Technologies, Inc., Sr Secd Nt, (Bermuda), 12.000%, 03/29/15
|
|
|
371
|
|
|
|
324,625
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
922,025
|
|
|
|
0.9
|
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS 1.1%
|
|
Intcomex, Inc., 13.250%, 12/15/14
|
|
|
218
|
|
|
|
212,005
|
|
|
|
0.2
|
|
Kemet Corp., 10.500%, 05/01/18
|
|
|
375
|
|
|
|
393,750
|
|
|
|
0.4
|
|
Sanmina-SCI Corp., Private Placement, Sr Nt, VAR,
3.097%, 06/15/14
2
|
|
|
200
|
|
|
|
191,000
|
|
|
|
0.2
|
|
Viasystems, Inc., Private Placement,
12.000%, 01/15/15
2
|
|
|
225
|
|
|
|
240,750
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,037,505
|
|
|
|
1.1
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERNET SOFTWARE & SERVICES 0.2%
|
|
|
|
|
|
Equinix, Inc., Sub Nt, 8.125%, 03/01/18
|
|
$
|
185
|
|
|
$
|
194,712
|
|
|
|
0.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT SERVICES 1.9%
|
|
|
|
|
|
Compucom Systems, Inc., Private Placement,
12.500%, 10/01/15
2
|
|
|
225
|
|
|
|
226,125
|
|
|
|
0.2
|
|
First Data Corp., 9.875%, 09/24/15
|
|
|
19
|
|
|
|
15,912
|
|
|
|
0.0
|
12
|
First Data Corp., Co Guar, PIK, 10.550%, 09/24/15
|
|
|
155
|
|
|
|
129,038
|
|
|
|
0.1
|
|
First Data Corp., Private Placement, Sr Nt,
8.250%, 01/15/21
2
|
|
|
80
|
|
|
|
63,200
|
|
|
|
0.1
|
|
First Data Corp., Private Placement, Sr Nt,
12.625%, 01/15/21
2
|
|
|
378
|
|
|
|
279,720
|
|
|
|
0.3
|
|
iGate Corp., Private Placement, Co Guar,
9.000%, 05/01/16
2
|
|
|
375
|
|
|
|
348,750
|
|
|
|
0.3
|
|
Sitel LLC/Sitel Finance Corp., Sr Unsecd Nt, 11.500%, 04/01/18
|
|
|
850
|
|
|
|
671,500
|
|
|
|
0.7
|
|
Softbrands, Inc./Atlantis Merger Sub, Inc., Private Placement, Sr Nt, 11.500%, 07/15/18
2
|
|
|
65
|
|
|
|
57,850
|
|
|
|
0.1
|
|
Stream Global Services, Inc., Sr Nt, 11.250%, 10/01/14
|
|
|
100
|
|
|
|
102,250
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,894,345
|
|
|
|
1.9
|
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 1.0%
|
|
Amkor Technology, Inc., 7.375%, 05/01/18
|
|
|
170
|
|
|
|
164,050
|
|
|
|
0.2
|
|
Freescale Semiconductor, Inc., Private Placement, Nt, 9.250%, 04/15/18
2
|
|
|
105
|
|
|
|
107,888
|
|
|
|
0.1
|
|
Freescale Semiconductor, Inc., Sr Nt,
Co Guar, 8.050%, 02/01/20
|
|
|
385
|
|
|
|
348,425
|
|
|
|
0.4
|
|
MEMC Electronic Materials, Inc., Private Placement,
7.750%, 04/01/19
2
|
|
|
135
|
|
|
|
115,425
|
|
|
|
0.1
|
|
NXP B.V./NXP Funding LLC, Private Placement, (Netherlands), 9.750%, 08/01/18
2
|
|
|
100
|
|
|
|
104,500
|
|
|
|
0.1
|
|
NXP B.V./NXP Funding LLC, Sr Nt, (Netherlands), VAR, 2.999%, 10/15/13
|
|
|
98
|
|
|
|
94,815
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
935,103
|
|
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Information Technology
|
|
|
|
|
|
|
6,001,403
|
|
|
|
6.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 11.0%
|
|
CHEMICALS 2.1%
|
|
CF Industries, Inc., 7.125%, 05/01/20
|
|
|
90
|
|
|
|
102,488
|
|
|
|
0.1
|
|
12
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHEMICALS (continued)
|
|
Chemtura Corp., Sr Nt, Co Guar, 7.875%, 09/01/18
|
|
$
|
150
|
|
|
$
|
147,000
|
|
|
|
0.1
|
%
|
Lyondell Chemical Co., 11.000%, 05/01/18
|
|
|
967
|
|
|
|
1,043,968
|
|
|
|
1.1
|
|
Lyondell Chemical Co., Private Placement,
8.000%, 11/01/17
2
|
|
|
262
|
|
|
|
282,305
|
|
|
|
0.3
|
|
Nexeo Solutions LLC/Nexeo Solutions Finance Corp., Private Placement, Nt, 8.375%, 03/01/18
2
|
|
|
35
|
|
|
|
34,562
|
|
|
|
0.0
|
12
|
Omnova Solutions, Inc., Sr Nt, Co Guar, 7.875%, 11/01/18
|
|
|
230
|
|
|
|
186,300
|
|
|
|
0.2
|
|
PolyOne Corp., 7.375%, 09/15/20
|
|
|
280
|
|
|
|
281,400
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,078,023
|
|
|
|
2.1
|
|
CONSTRUCTION MATERIALS 0.8%
|
|
Cemex S.A.B. de C.V., Private Placement, (Mexico),
9.000%, 01/11/18
2
|
|
|
500
|
|
|
|
338,750
|
|
|
|
0.3
|
|
Texas Industries, Inc., 9.250%, 08/15/20
|
|
|
215
|
|
|
|
167,162
|
|
|
|
0.2
|
|
Vulcan Materials Co., Sr Unsecd Nt, 7.500%, 06/15/21
|
|
|
315
|
|
|
|
293,868
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
799,780
|
|
|
|
0.8
|
|
CONTAINERS & PACKAGING 3.0%
|
|
Ardagh Packaging Finance plc, Private Placement, Sr Sub Nt, (Ireland), 9.125%, 10/15/20
2
|
|
|
200
|
|
|
|
180,000
|
|
|
|
0.2
|
|
Berry Plastics Corp., 9.500%, 05/15/18
|
|
|
370
|
|
|
|
314,500
|
|
|
|
0.3
|
|
Berry Plastics Corp., Co Guar, 8.250%, 11/15/15
|
|
|
165
|
|
|
|
167,888
|
|
|
|
0.2
|
|
Berry Plastics Corp., Sr Secd Nt, 9.750%, 01/15/21
|
|
|
300
|
|
|
|
255,000
|
|
|
|
0.3
|
|
Constar International, Inc.,
11.000%, 12/31/17
3,9
|
|
|
305
|
|
|
|
304,766
|
|
|
|
0.3
|
|
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC, Private Placement, Sr Secd Nt, 7.875%, 08/15/19
2
|
|
|
250
|
|
|
|
241,250
|
|
|
|
0.2
|
|
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC, Private Placement, Sr Unsecd Nt, 9.875%, 08/15/19
2
|
|
|
275
|
|
|
|
242,000
|
|
|
|
0.3
|
|
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu, Private Placement, Nt,
|
|
|
|
|
|
|
|
|
|
|
|
|
8.250%, 02/15/21
2
|
|
|
300
|
|
|
|
237,000
|
|
|
|
0.2
|
|
9.000%, 05/15/18
2
|
|
|
400
|
|
|
|
338,000
|
|
|
|
0.4
|
|
9.000%, 04/15/19
2
|
|
|
125
|
|
|
|
106,250
|
|
|
|
0.1
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTAINERS & PACKAGING (continued)
|
|
|
|
|
|
Sealed Air Corp., Private Placement, Sr Unsecd Nt,
|
|
|
|
|
|
|
|
|
|
|
|
|
8.125%, 09/15/19
2
|
|
$
|
70
|
|
|
$
|
70,700
|
|
|
|
0.1
|
%
|
8.375%, 09/15/21
2
|
|
|
70
|
|
|
|
70,700
|
|
|
|
0.0
|
12
|
Viskase Cos., Inc., Private Placement, Sr Nt, 9.875%,
01/15/18
2
|
|
|
350
|
|
|
|
353,500
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,881,554
|
|
|
|
3.0
|
|
METALS & MINING 3.0%
|
|
APERAM, Private Placement, Sr Unsecd Nt, (Luxembourg), 7.750%, 04/01/18
2
|
|
|
300
|
|
|
|
261,000
|
|
|
|
0.3
|
|
Constellation Enterprises LLC, Private Placement,
10.625%, 02/01/16
2
|
|
|
275
|
|
|
|
266,750
|
|
|
|
0.3
|
|
Edgen Murray Corp., Sr Nt, 12.250%, 01/15/15
|
|
|
250
|
|
|
|
224,063
|
|
|
|
0.2
|
|
FMG Resources August 2006 Pty Ltd., Private Placement, (Australia), 7.000%, 11/01/15
2
|
|
|
100
|
|
|
|
93,000
|
|
|
|
0.1
|
|
FMG Resources August 2006 Pty Ltd., Private Placement, Co Guar, (Australia), 6.875%, 02/01/18
2
|
|
|
395
|
|
|
|
347,600
|
|
|
|
0.4
|
|
James River Escrow, Inc., Private Placement,
7.875%, 04/01/19
2
|
|
|
60
|
|
|
|
50,400
|
|
|
|
0.1
|
|
JMC Steel Group, Private Placement,
8.250%, 03/15/18
2
|
|
|
100
|
|
|
|
94,000
|
|
|
|
0.1
|
|
Murray Energy Corp., Private Placement,
10.250%, 10/15/15
2
|
|
|
255
|
|
|
|
243,525
|
|
|
|
0.3
|
|
Noranda Aluminum Acquisition Corp., Sr Nt, PIK, 4.417%, 05/15/15
|
|
|
487
|
|
|
|
438,444
|
|
|
|
0.4
|
|
Novelis, Inc., Co Guar, (Canada), 8.750%, 12/15/20
|
|
|
429
|
|
|
|
420,420
|
|
|
|
0.4
|
|
Severstal Columbus LLC, 10.250%, 02/15/18
|
|
|
100
|
|
|
|
102,000
|
|
|
|
0.1
|
|
Taseko Mines Ltd., Co Guar, (Canada), 7.750%, 04/15/19
|
|
|
50
|
|
|
|
46,500
|
|
|
|
0.0
|
12
|
Thompson Creek Metals Co., Inc., Private Placement, Sr Nt, Co Guar, (Canada), 7.375%, 06/01/18
2
|
|
|
150
|
|
|
|
135,000
|
|
|
|
0.1
|
|
Wolverine Tube, Inc., Sr Secd Nt,
6.000%, 06/28/14
3,9
|
|
|
225
|
|
|
|
225,046
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,947,748
|
|
|
|
3.0
|
|
PAPER & FOREST PRODUCTS 2.1%
|
|
|
|
|
|
AbitibiBowater, Inc., Private Placement,
10.250%, 10/15/18
2
|
|
|
260
|
|
|
|
271,700
|
|
|
|
0.3
|
|
13
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PAPER & FOREST PRODUCTS (continued)
|
|
|
|
|
|
Abitibi-Consolidated Co. of Canada, Escrow, (Canada), 6.000%, 06/20/13
1,4
|
|
$
|
1,331
|
|
|
$
|
3,328
|
|
|
|
0.0
|
%
12
|
7.500%, 04/01/28
1,4
|
|
|
287
|
|
|
|
717
|
|
|
|
0.0
|
12
|
Abitibi-Consolidated Co. of Canada, Sr Nt, Escrow, (Canada), 7.750%, 06/15/11
1,4
|
|
|
479
|
|
|
|
1,198
|
|
|
|
0.0
|
12
|
8.375%, 04/01/15
1,4
|
|
|
2,485
|
|
|
|
6,212
|
|
|
|
0.0
|
12
|
8.850%, 08/01/30
1,4
|
|
|
102
|
|
|
|
255
|
|
|
|
0.0
|
12
|
Appleton Papers, Inc., Private Placement, Sr Secd Nt, 10.500%, 06/15/15
2
|
|
|
250
|
|
|
|
245,000
|
|
|
|
0.3
|
|
Bowater Canada Finance Corp., Nt, (Canada),
7.950%, 11/15/11
1,4
|
|
|
500
|
|
|
|
105,000
|
|
|
|
0.1
|
|
Longview Fibre Paper & Packaging, Inc., Private Placement, Sr Secd Nt, 8.000%, 06/01/16
2
|
|
|
200
|
|
|
|
194,000
|
|
|
|
0.2
|
|
NewPage Corp., Sr Nt,
10.000%, 05/01/12
1,4
|
|
|
450
|
|
|
|
51,750
|
|
|
|
0.1
|
|
NewPage Corp., Sr Secd Nt, 11.375%, 12/31/14
|
|
|
1,500
|
|
|
|
1,113,750
|
|
|
|
1.1
|
|
Smurfit-Stone Container Corp., Sr Nt,
8.000%, 03/15/17
1,3,4,9
|
|
|
1,229
|
|
|
|
26,116
|
|
|
|
0.0
|
12
|
Smurfit-Stone Container Enterprises, Inc.,
8.375%, 07/01/12
1,3,4,9
|
|
|
448
|
|
|
|
9,520
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,028,546
|
|
|
|
2.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Materials
|
|
|
|
|
|
|
10,735,651
|
|
|
|
11.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 8.3%
|
|
|
|
|
|
DIVERSIFIED TELECOMMUNICATION SERVICES 4.2%
|
|
|
|
|
|
Cincinnati Bell, Inc., 8.750%, 03/15/18
|
|
|
120
|
|
|
|
106,500
|
|
|
|
0.1
|
|
Clearwire Communications LLC/Clearwire Finance, Inc., Private Placement, 12.000%, 12/01/15
2
|
|
|
113
|
|
|
|
95,203
|
|
|
|
0.1
|
|
12.000%, 12/01/15
2
|
|
|
1,387
|
|
|
|
1,175,482
|
|
|
|
1.2
|
|
Frontier Communications Corp., Sr Nt, 8.250%, 04/15/17
|
|
|
115
|
|
|
|
111,550
|
|
|
|
0.1
|
|
8.500%, 04/15/20
|
|
|
115
|
|
|
|
111,550
|
|
|
|
0.1
|
|
8.750%, 04/15/22
|
|
|
110
|
|
|
|
109,175
|
|
|
|
0.1
|
|
Global Crossing Ltd., (Bermuda), 12.000%, 09/15/15
|
|
|
35
|
|
|
|
39,681
|
|
|
|
0.0
|
12
|
Level 3 Escrow, Inc., Private Placement, Sr Unsecd Nt, 8.125%, 07/01/19
2
|
|
|
600
|
|
|
|
530,250
|
|
|
|
0.5
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED TELECOMMUNICATION SERVICES (continued)
|
|
|
|
|
|
Level 3 Financing, Inc., Co. Guar,
9.250%, 11/01/14
10
|
|
$
|
45
|
|
|
$
|
44,438
|
|
|
|
0.1
|
%
|
Level 3 Financing, Inc., Private Placement, Sr Nt,
9.375%, 04/01/19
2
|
|
|
295
|
|
|
|
274,350
|
|
|
|
0.3
|
|
PAETEC Holding Corp., Sr Secd Nt, 8.875%, 06/30/17
|
|
|
200
|
|
|
|
210,000
|
|
|
|
0.2
|
|
Qwest Communications International, Inc., Sr Secd Nt, 7.125%, 04/01/18
|
|
|
200
|
|
|
|
196,000
|
|
|
|
0.2
|
|
Qwest Corp., Sr Nt, 7.625%, 06/15/15
10
|
|
|
515
|
|
|
|
551,050
|
|
|
|
0.6
|
|
Windstream Corp., 7.875%, 11/01/17
|
|
|
320
|
|
|
|
324,000
|
|
|
|
0.3
|
|
8.125%, 09/01/18
|
|
|
250
|
|
|
|
251,875
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,131,104
|
|
|
|
4.2
|
|
WIRELESS TELECOMMUNICATION SERVICES 4.1%
|
|
|
|
|
|
Cricket Communications, Inc., 7.750%, 05/15/16
|
|
|
180
|
|
|
|
180,675
|
|
|
|
0.2
|
|
7.750%, 10/15/20
|
|
|
375
|
|
|
|
326,250
|
|
|
|
0.3
|
|
MetroPCS Wireless, Inc., 7.875%, 09/01/18
|
|
|
145
|
|
|
|
140,650
|
|
|
|
0.1
|
|
MetroPCS Wireless, Inc., Sr Nt, Co Guar, 6.625%, 11/15/20
|
|
|
200
|
|
|
|
176,000
|
|
|
|
0.2
|
|
Nextel Communications, Inc.,
7.375%, 08/01/15
10
|
|
|
1,025
|
|
|
|
971,187
|
|
|
|
1.0
|
|
NII Capital Corp., Sr Nt, 8.875%, 12/15/19
|
|
|
315
|
|
|
|
328,387
|
|
|
|
0.3
|
|
Sprint Nextel Corp., Nt, 6.000%, 12/01/16
10
|
|
|
1,400
|
|
|
|
1,204,000
|
|
|
|
1.2
|
|
VimpelCom Holdings B.V., Nt, Co Guar, (Netherlands), 7.504%, 03/01/22
2
|
|
|
200
|
|
|
|
161,000
|
|
|
|
0.2
|
|
VimpelCom Holdings B.V., Private Placement, Co Guar, (Netherlands), 6.255%, 03/01/17
2
|
|
|
200
|
|
|
|
172,000
|
|
|
|
0.2
|
|
Wind Acquisition Finance S.A., Private Placement, (Luxembourg), 7.250%, 02/15/18
2
|
|
|
200
|
|
|
|
170,750
|
|
|
|
0.2
|
|
Wind Acquisition Holdings Finance S.A., Private Placement, Sr Secd Nt, (Luxembourg), PIK, 12.250%, 07/15/17
2
|
|
|
247
|
|
|
|
192,956
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,023,855
|
|
|
|
4.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Telecommunication Services
|
|
|
|
|
|
|
8,154,959
|
|
|
|
8.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES 4.5%
|
|
|
|
|
|
ELECTRIC UTILITIES 0.2%
|
|
|
|
|
|
Dolphin Subsidiary II, Inc.,
|
|
|
|
|
|
|
|
|
|
|
|
|
Private Placement, Sr Unsecd Nt,
|
|
|
|
|
|
|
|
|
|
|
|
|
6.500%, 10/15/16
2
|
|
$
|
110
|
|
|
$
|
108,625
|
|
|
|
0.1
|
%
|
7.250%, 10/15/21
2
|
|
|
100
|
|
|
|
97,000
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
205,625
|
|
|
|
0.2
|
|
GAS UTILITIES 0.1%
|
|
|
|
|
|
Genesis Energy LP/Genesis Energy Finance Corp., Private Placement, 7.875%, 12/15/18
2
|
|
|
160
|
|
|
|
152,000
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 3.2%
|
|
Calpine Construction Finance Co. LP and CCFC Finance Corp., Private Placement, 8.000%, 06/01/16
2
|
|
|
200
|
|
|
|
205,000
|
|
|
|
0.2
|
|
Dynegy Holdings, LLC, Sr Nt, 7.750%, 06/01/19
|
|
|
750
|
|
|
|
453,750
|
|
|
|
0.5
|
|
Dynegy Holdings, LLC, Sr Unsecd Nt, 7.125%, 05/15/18
|
|
|
500
|
|
|
|
292,500
|
|
|
|
0.3
|
|
Dynegy Roseton/Danskammer Pass Through Trust, Sr Unsecd Nt, 7.670%, 11/08/16
|
|
|
1,000
|
|
|
|
550,000
|
|
|
|
0.5
|
|
Edison Mission Energy, 7.200%, 05/15/19
|
|
|
500
|
|
|
|
285,000
|
|
|
|
0.3
|
|
Edison Mission Energy, Sr Unsecd Nt, 7.000%, 05/15/17
|
|
|
1,000
|
|
|
|
595,000
|
|
|
|
0.6
|
|
First Wind Capital LLC, Private Placement, Sr Secd Nt,
10.250%, 06/01/18
2
|
|
|
70
|
|
|
|
66,500
|
|
|
|
0.1
|
|
GenOn Energy, Inc., Sr Unsecd Nt, 9.875%, 10/15/20
|
|
|
290
|
|
|
|
271,150
|
|
|
|
0.3
|
|
Homer City Funding LLC, 8.137%, 10/01/19
|
|
|
99
|
|
|
|
83,328
|
|
|
|
0.1
|
|
Midwest Generation LLC, 8.560%, 01/02/16
|
|
|
198
|
|
|
|
194,747
|
|
|
|
0.2
|
|
Texas Competitive Electric Holdings Co. LLC, Sr Nt, 10.250%, 11/01/15
|
|
|
350
|
|
|
|
131,250
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,128,225
|
|
|
|
3.2
|
|
MULTI-UTILITIES 1.0%
|
|
|
|
|
|
Energy Future Intermediate Holding Co. LLC/EFIH Finance, Inc.,
10.000%, 12/01/20
|
|
|
980
|
|
|
|
955,500
|
|
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Utilities
|
|
|
|
|
|
|
4,441,350
|
|
|
|
4.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporate Bonds
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $118,201,409)
|
|
|
|
|
|
|
108,490,083
|
|
|
|
110.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LOAN PARTICIPATIONS & ASSIGNMENTS 21.0%
|
|
|
|
|
|
CONSUMER DISCRETIONARY 7.6%
|
|
|
|
|
|
AUTOMOBILES 0.6%
|
|
|
|
|
|
Chrysler, Term Loan B, VAR, 6.000%, 05/24/17
|
|
$
|
665
|
|
|
$
|
578,078
|
|
|
|
0.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED CONSUMER SERVICES 0.1%
|
|
|
|
|
|
Tishman Speyer Office, Term Loan, VAR, 8.000%, 05/20/12
|
|
|
140
|
|
|
|
136,150
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAMING 1.6%
|
|
|
|
|
|
Boyd Gaming Corp., Term Loan, VAR, 3.739%, 12/17/15
|
|
|
234
|
|
|
|
217,069
|
|
|
|
0.2
|
|
Caesars Entertainment Operating Co., Inc., Term B-2 Loan,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 3.235%, 01/28/15
|
|
|
352
|
|
|
|
292,032
|
|
|
|
0.3
|
|
VAR, 3.253%, 01/28/15
|
|
|
654
|
|
|
|
543,483
|
|
|
|
0.6
|
|
CCM Merger, Inc., Term Loan, VAR, 7.000%, 03/01/17
|
|
|
385
|
|
|
|
373,250
|
|
|
|
0.4
|
|
Golden Nugget, Inc., Additional Term Advance,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 3.240%, 06/30/14
|
|
|
12
|
|
|
|
9,957
|
|
|
|
0.0
|
12
|
VAR, 3.240%, 06/30/14
|
|
|
3
|
|
|
|
2,212
|
|
|
|
0.0
|
12
|
VAR, 3.240%, 06/30/14
|
|
|
3
|
|
|
|
2,467
|
|
|
|
0.0
|
12
|
Golden Nugget, Inc., Term Advance,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 3.240%, 06/30/14
|
|
|
17
|
|
|
|
13,492
|
|
|
|
0.0
|
12
|
VAR, 3.240%, 06/30/14
|
|
|
15
|
|
|
|
12,218
|
|
|
|
0.0
|
12
|
Isle of Capri Casinos, Inc., Term Loan B,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 4.750%, 11/01/13
|
|
|
100
|
|
|
|
97,235
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,563,415
|
|
|
|
1.6
|
|
HOTELS, RESTAURANTS & LEISURE 0.6%
|
|
|
|
|
|
Outback Steakhouse, Inc., Prefunded RC Commitment,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 0.163%, 06/14/13
|
|
|
5
|
|
|
|
4,636
|
|
|
|
0.0
|
12
|
VAR, 2.688%, 06/14/13
|
|
|
|
11
|
|
|
349
|
|
|
|
0.0
|
12
|
Outback Steakhouse, Inc., Term Loan B, VAR, 2.563%, 06/14/14
|
|
|
387
|
|
|
|
359,312
|
|
|
|
0.4
|
|
Rock Ohio Caesars LLC, Term Loan, VAR, 8.500%, 08/15/17
|
|
|
200
|
|
|
|
196,750
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
561,047
|
|
|
|
0.6
|
|
MEDIA 3.4%
|
|
|
|
|
|
Cengage Learning Acquisitions, Term Loan, VAR, 2.490%, 07/03/14
|
|
|
361
|
|
|
|
281,398
|
|
|
|
0.3
|
|
Clear Channel Communications, Inc., Term Loan B, VAR, 3.889%, 01/29/16
^
|
|
|
672
|
|
|
|
468,582
|
|
|
|
0.5
|
|
15
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MEDIA (continued)
|
|
|
|
|
|
Cumulus Radio, Term Loan, VAR, 09/16/18
^
|
|
$
|
90
|
|
|
$
|
84,628
|
|
|
|
0.1
|
%
|
Entercom Radio LLC, Term Loan A,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 1.362%, 06/30/12
|
|
|
191
|
|
|
|
182,064
|
|
|
|
0.2
|
|
VAR, 3.375%, 06/30/12
|
|
|
51
|
|
|
|
48,809
|
|
|
|
0.0
|
12
|
High Plains Broadcasting Operating Co. LLC, Term Loan, VAR, 9.000%, 09/14/16
|
|
|
189
|
|
|
|
185,629
|
|
|
|
0.2
|
|
Hubbard Radio LLC, 1st Lien Term Loan B, VAR, 5.250%, 04/28/17
|
|
|
100
|
|
|
|
95,760
|
|
|
|
0.1
|
|
Hubbard Radio LLC, 2nd Lien Term Loan C, VAR, 8.750%, 04/30/18
|
|
|
100
|
|
|
|
97,375
|
|
|
|
0.1
|
|
Media General, Inc., Term Loan,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 4.734%, 03/29/13
|
|
|
13
|
|
|
|
10,131
|
|
|
|
0.0
|
12
|
VAR, 4.819%, 03/29/13
|
|
|
42
|
|
|
|
34,262
|
|
|
|
0.0
|
12
|
Newport Television LLC, Term Loan, VAR, 9.000%, 09/14/16
|
|
|
694
|
|
|
|
680,862
|
|
|
|
0.7
|
|
Newsday, Fixed Rate Term Loan, VAR, 10.500%, 08/01/13
|
|
|
250
|
|
|
|
256,562
|
|
|
|
0.3
|
|
R.H. Donnelley, Inc., Exit Term Loan
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 9.000%, 10/24/14
|
|
|
177
|
|
|
|
79,263
|
|
|
|
0.1
|
|
VAR, 9.000%, 10/24/14
|
|
|
183
|
|
|
|
81,765
|
|
|
|
0.1
|
|
VAR, 9.000%, 10/24/14
|
|
|
41
|
|
|
|
18,463
|
|
|
|
0.0
|
12
|
Radio One, 1st Lien Term Loan B, VAR, 7.500%, 03/31/16
|
|
|
249
|
|
|
|
238,002
|
|
|
|
0.2
|
|
Univision Communications, Inc., Initial Term Loan, VAR, 2.239%, 09/29/14
|
|
|
361
|
|
|
|
327,808
|
|
|
|
0.3
|
|
Vertis, Inc., 1st Lien Term Loan, VAR, 11.750%, 12/21/15
|
|
|
277
|
|
|
|
195,743
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,367,106
|
|
|
|
3.4
|
|
SPECIALTY RETAIL 1.1%
|
|
|
|
|
|
Academy Sports & Outdoors, 1st Lien Term Loan, VAR, 6.000%, 08/03/18
|
|
|
250
|
|
|
|
238,645
|
|
|
|
0.2
|
|
Claires Stores, Term Loan B,
|
|
|
|
|
|
|
|
|
|
|
|
|
VAR, 2.989%, 05/29/14
|
|
|
676
|
|
|
|
567,854
|
|
|
|
0.6
|
|
VAR, 3.003%, 05/29/14
|
|
|
142
|
|
|
|
119,008
|
|
|
|
0.1
|
|
J. Crew, 1st Lien Term Loan, VAR, 4.750%, 03/07/18
|
|
|
224
|
|
|
|
198,964
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,124,471
|
|
|
|
1.1
|
|
TEXTILES, APPAREL & LUXURY GOODS 0.2%
|
|
|
|
|
|
BCBG Max Azaria, 1st Lien Term Loan, VAR, 9.870%, 06/09/15
|
|
|
200
|
|
|
|
185,666
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Discretionary
|
|
|
|
|
|
|
7,515,933
|
|
|
|
7.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER STAPLES 0.9%
|
|
|
|
|
|
FOOD & STAPLES RETAILING 0.4%
|
|
|
|
|
|
Rite Aid Corp., 1st Lien Term Loan 5, VAR, 4.500%, 03/03/18
|
|
$
|
486
|
|
|
$
|
447,689
|
|
|
|
0.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERSONAL PRODUCTS 0.5%
|
|
|
|
|
|
Targus, 1st Lien Term Loan, VAR, 11.000%, 05/24/16
|
|
|
499
|
|
|
|
477,967
|
|
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Staples
|
|
|
|
|
|
|
925,656
|
|
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ENERGY 0.2%
|
|
|
|
|
|
OIL, GAS & CONSUMABLE FUELS 0.2%
|
|
|
|
|
|
Big West Oil, Term Loan B, VAR, 7.000%, 03/31/16
|
|
|
95
|
|
|
|
94,026
|
|
|
|
0.1
|
|
Western Refinancing, Inc., Term Loan B, VAR, 7.500%, 03/15/17
|
|
|
100
|
|
|
|
98,576
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Energy
|
|
|
|
|
|
|
192,602
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIALS 2.0%
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES 1.7%
|
|
|
|
|
|
Capmark Financial Group, U.S. Term Loan,
VAR, 03/23/11
1,4
|
|
|
2,285
|
|
|
|
1,168,546
|
|
|
|
1.2
|
|
Capmark Financial Group, Unsecured Bridge Loan, VAR,
03/23/11
1,4
|
|
|
175
|
|
|
|
90,563
|
|
|
|
0.1
|
|
Clarke American Corp., Term Loan B, VAR, 2.739%, 06/30/14
|
|
|
101
|
|
|
|
85,020
|
|
|
|
0.1
|
|
VAR, 2.739%, 06/30/14
|
|
|
97
|
|
|
|
81,750
|
|
|
|
0.1
|
|
VAR, 2.739%, 06/30/14
^
|
|
|
151
|
|
|
|
126,830
|
|
|
|
0.1
|
|
VAR, 2.739%, 06/30/14
|
|
|
71
|
|
|
|
59,561
|
|
|
|
0.1
|
|
VAR, 2.739%, 06/30/14
|
|
|
59
|
|
|
|
49,400
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,661,670
|
|
|
|
1.7
|
|
REAL ESTATE INVESTMENT TRUSTS (REITS) 0.3%
|
|
|
|
|
|
I-Star, Term Loan A-1, VAR, 5.000%, 06/28/13
|
|
|
197
|
|
|
|
189,561
|
|
|
|
0.2
|
|
VAR, 5.000%, 06/28/13
|
|
|
143
|
|
|
|
137,457
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
327,018
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Financials
|
|
|
|
|
|
|
1,988,688
|
|
|
|
2.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE 0.3%
|
|
|
|
|
|
HEALTH CARE PROVIDERS & SERVICES 0.1%
|
|
|
|
|
|
Inventive Health, Consolidated Term Loan, VAR, 6.500%, 08/04/16
|
|
|
99
|
|
|
|
94,571
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PHARMACEUTICALS 0.2%
|
|
|
|
|
|
Axcan Intermediate Holdings, Inc., Term Loan, VAR, 5.500%, 02/10/17
|
|
$
|
103
|
|
|
$
|
91,025
|
|
|
|
0.1
|
%
|
VAR, 5.500%, 02/10/17
|
|
|
11
|
|
|
|
9,815
|
|
|
|
0.0
|
12
|
Capsugel Holdings, Inc., Term Loan, VAR, 5.250%, 08/01/18
|
|
|
75
|
|
|
|
73,389
|
|
|
|
0.1
|
|
VAR, 08/01/18
^
|
|
|
|
11
|
|
|
369
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
174,598
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Health Care
|
|
|
|
|
|
|
269,169
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIALS 3.1%
|
|
|
|
|
|
AIRLINES 0.5%
|
|
|
|
|
|
Delta Air Lines, Inc., New Term Loan, VAR, 4.250%, 03/07/16
|
|
|
498
|
|
|
|
454,590
|
|
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BUILDING PRODUCTS 0.8%
|
|
|
|
|
|
Jacuzzi Brands, Inc., 1st Lien Synthetic Credit Facility, VAR, 0.269%, 02/07/14
|
|
|
81
|
|
|
|
57,696
|
|
|
|
0.1
|
|
Jacuzzi Brands, Inc., 1st Lien Term Loan B, VAR, 2.503%, 02/07/14
|
|
|
886
|
|
|
|
630,030
|
|
|
|
0.6
|
|
Jacuzzi Luxco S.A.R.L., New Term Loan, VAR,
6.246%, 11/15/13
3,9,^
|
|
|
126
|
|
|
|
125,535
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
813,261
|
|
|
|
0.8
|
|
COMMERCIAL SERVICES & SUPPLIES 0.5%
|
|
|
|
|
|
Cenveo Corp., Term B Loan, VAR, 6.250%, 12/21/16
|
|
|
199
|
|
|
|
192,132
|
|
|
|
0.2
|
|
SCH Group, 1st Lien Term Loan, VAR, 6.625%, 04/28/17
|
|
|
125
|
|
|
|
110,193
|
|
|
|
0.1
|
|
SCH Group, 2nd Lien Term Loan, VAR, 10.500%, 04/30/18
|
|
|
225
|
|
|
|
198,423
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
500,748
|
|
|
|
0.5
|
|
INDUSTRIAL CONGLOMERATES 1.1%
|
|
|
|
|
|
BOC Edwards, Extended Term Loan, VAR, 5.500%, 05/31/16
|
|
|
1,178
|
|
|
|
1,085,148
|
|
|
|
1.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PAPER & FOREST PRODUCTS 0.2%
|
|
|
|
|
|
Xerium Technologies, Inc., Initial U.S. Term Loan, VAR, 5.500%, 05/26/17
|
|
|
191
|
|
|
|
184,784
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Industrials
|
|
|
|
|
|
|
3,038,531
|
|
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INFORMATION TECHNOLOGY 2.7%
|
|
|
|
|
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS 0.1%
|
|
Sensus USA, Inc., 1st Lien Term Loan, VAR, 4.750%, 05/09/17
|
|
|
99
|
|
|
|
95,173
|
|
|
|
0.1
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (continued)
|
|
VAR, 5.750%, 05/09/17
|
|
$
|
|
11
|
|
$
|
437
|
|
|
|
0.0
|
%
12
|
Sensus USA, Inc., 2nd Lien Term Loan, VAR, 8.500%, 05/09/18
|
|
|
50
|
|
|
|
48,094
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
143,704
|
|
|
|
0.1
|
|
IT SERVICES 2.2%
|
|
|
|
|
|
Compucom Systems, Inc., Term Loan, VAR,
3.740%, 08/25/14
3,9
|
|
|
767
|
|
|
|
698,296
|
|
|
|
0.7
|
|
First Data Corp., Initial Tranche B-1 Term Loan, VAR, 2.985%, 09/24/14
|
|
|
350
|
|
|
|
303,261
|
|
|
|
0.3
|
|
First Data Corp., Initial Tranche B-3 Term Loan, VAR, 2.985%, 09/24/14
|
|
|
1,313
|
|
|
|
1,138,178
|
|
|
|
1.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,139,735
|
|
|
|
2.2
|
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 0.4%
|
|
|
|
|
|
Freescale Semiconductor, Inc., Extended Maturity Term Loan, VAR, 4.472%, 12/01/16
|
|
|
387
|
|
|
|
353,908
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Information Technology
|
|
|
|
|
|
|
2,637,347
|
|
|
|
2.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 2.1%
|
|
|
|
|
|
CHEMICALS 1.7%
|
|
|
|
|
|
AZ Chem US, Inc. (Arizona Chemical), Term Loan, VAR, 4.750%, 11/21/16
|
|
|
98
|
|
|
|
96,188
|
|
|
|
0.1
|
|
Cristal Inorganic Chemicals (Millenium), 2nd Lien Term Loan, VAR, 6.119%, 11/15/14
|
|
|
500
|
|
|
|
486,665
|
|
|
|
0.5
|
|
Nexeo Solutions, Term Loan, VAR, 5.000%, 09/08/17
|
|
|
62
|
|
|
|
57,385
|
|
|
|
0.1
|
|
VAR, 5.000%, 09/08/17
|
|
|
38
|
|
|
|
35,399
|
|
|
|
0.0
|
12
|
OM Group, Term Loan B, VAR, 5.750%, 08/02/17
|
|
|
115
|
|
|
|
113,922
|
|
|
|
0.1
|
|
Rentech Energy Midwest Corp., Term Loan, VAR, 10.000%, 06/10/16
|
|
|
430
|
|
|
|
421,400
|
|
|
|
0.4
|
|
Styron, 1st Lien Term Loan, VAR,
6.000%, 08/02/17
^
|
|
|
323
|
|
|
|
290,208
|
|
|
|
0.3
|
|
Univar, Inc., Term Loan B, VAR, 5.000%, 06/30/17
|
|
|
164
|
|
|
|
153,241
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,654,408
|
|
|
|
1.7
|
|
CONTAINERS & PACKAGING 0.3%
|
|
|
|
|
|
Reynolds Group Holdings, Term Loan C, VAR, 6.500%, 08/09/18
|
|
|
140
|
|
|
|
135,645
|
|
|
|
0.2
|
|
17
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTAINERS & PACKAGING (continued)
|
|
|
|
|
|
Reynolds Group Holdings, U.S. Term Loan, VAR, 6.500%, 02/09/18
|
|
$
|
98
|
|
|
$
|
94,566
|
|
|
|
0.1
|
%
|
VAR, 6.500%, 02/09/18
|
|
|
27
|
|
|
|
25,908
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
256,119
|
|
|
|
0.3
|
|
METALS & MINING 0.1%
|
|
|
|
|
|
American Rock Salt, 1st Lien Term Loan, VAR, 5.500%, 04/25/17
|
|
|
125
|
|
|
|
118,688
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Materials
|
|
|
|
|
|
|
2,029,215
|
|
|
|
2.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.5%
|
|
|
|
|
|
DIVERSIFIED TELECOMMUNICATION SERVICES 0.5%
|
|
|
|
|
|
Level 3 Communications, Tranche A Term Loan, VAR, 2.492%, 03/13/14
|
|
|
71
|
|
|
|
66,500
|
|
|
|
0.0
|
12
|
VAR, 2.496%, 03/13/14
|
|
|
179
|
|
|
|
166,250
|
|
|
|
0.2
|
|
Level 3 Communications, Tranche B Term Loan, VAR, 11.500%, 03/13/14
|
|
|
250
|
|
|
|
260,000
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Telecommunication Services
|
|
|
|
|
|
|
492,750
|
|
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES 1.6%
|
|
|
|
|
|
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 1.6%
|
|
Dynegy Midwest Generation, Inc., Term Loan, VAR, 9.250%, 08/05/16
|
|
|
75
|
|
|
|
72,643
|
|
|
|
0.1
|
|
Dynegy Power LLC, Term Loan, VAR, 9.250%, 08/05/16
|
|
|
125
|
|
|
|
122,674
|
|
|
|
0.1
|
|
Texas Competitive Electric Holdings Co. LLC, Extended Term Loan, VAR, 4.726%, 10/10/17
|
|
|
330
|
|
|
|
219,328
|
|
|
|
0.2
|
|
VAR, 4.772%, 10/10/17
|
|
|
350
|
|
|
|
233,018
|
|
|
|
0.3
|
|
Texas Competitive Electric Holdings Co. LLC, Extended-Term Loan, VAR, 4.772%, 10/10/17
|
|
|
|
11
|
|
|
268
|
|
|
|
0.0
|
12
|
Texas Competitive Electric Holdings Co. LLC, Non-Extended Term Loan, VAR, 3.726%, 10/10/14
|
|
|
679
|
|
|
|
477,662
|
|
|
|
0.5
|
|
VAR, 3.772%, 10/10/14
|
|
|
1
|
|
|
|
584
|
|
|
|
0.0
|
12
|
TPF Generation Holdings LLC, 2nd Lien Term Loan, VAR, 4.619%, 12/15/14
|
|
|
500
|
|
|
|
448,125
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Utilities
|
|
|
|
|
|
|
1,574,302
|
|
|
|
1.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loan Participations & Assignments
|
|
|
|
|
|
(cost $21,870,761)
|
|
|
|
|
|
|
20,664,193
|
|
|
|
21.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Shares/Par
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET-BACKED SECURITIES 1.5%
|
|
|
|
|
|
Countrywide Asset-Backed Certificates, Series 2004-13, Class MV8, VAR, 1.935%, 01/25/35
3,9
|
|
$
|
115
|
|
|
$
|
5,806
|
|
|
|
0.0
|
%
12
|
Long Beach Mortgage Loan Trust, Series 2004-5, Class M6, VAR, 2.735%, 09/25/34
3,9
|
|
|
50
|
|
|
|
9,044
|
|
|
|
0.0
|
12
|
Unipac IX LLC, 13.000%, 04/11/13
3,9
|
|
|
1,500
|
|
|
|
1,482,446
|
|
|
|
1.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Asset-Backed Securities
|
|
|
|
|
|
(cost $1,641,701)
|
|
|
|
|
|
|
1,497,296
|
|
|
|
1.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fixed Income Investments
|
|
|
|
|
|
(cost $141,759,871)
|
|
|
|
|
|
|
130,691,650
|
|
|
|
133.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PREFERRED STOCKS 3.6%
|
|
|
|
|
|
CONSUMER DISCRETIONARY 1.4%
|
|
|
|
|
|
AUTO COMPONENTS 0.0%
|
|
|
|
|
|
Glasstech, Inc., Pfd, Series C,
1,3,9
|
|
|
|
11
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTOMOBILES 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
General Motors Co., Series B, 4.750%, 12/01/13
|
|
|
7
|
|
|
|
245,560
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED CONSUMER SERVICES 0.7%
|
|
|
|
|
|
Carraige Services Capital Trust, Pfd, 7.000%, 06/01/29
|
|
|
16
|
|
|
|
711,000
|
|
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOUSEHOLD DURABLES 0.3%
|
|
|
|
|
|
M/I Homes, Inc., Pfd, Series A, 9.750%, 03/15/12
1
|
|
|
21
|
|
|
|
290,535
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MEDIA 0.2%
|
|
|
|
|
|
Spanish Broadcasting System, Inc., Pfd
1,3,9
|
|
|
481
|
|
|
|
2,310
|
|
|
|
0.0
|
12
|
Spanish Broadcasting System, Inc., Pfd, Series B, PIK, 10.750%, 08/01/11
3,9,14
|
|
|
|
11
|
|
|
145,440
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
147,750
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Discretionary
|
|
|
|
|
|
|
1,394,845
|
|
|
|
1.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER STAPLES 0.0%
|
|
|
|
|
|
FOOD PRODUCTS 0.0%
|
|
|
|
|
|
Eurofresh, Inc., Pfd, ADR
1,3,9
|
|
|
|
11
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIALS 2.1%
|
|
|
|
|
|
COMMERCIAL BANKS 1.6%
|
|
|
|
|
|
CoBank ACB, Pfd, Series D,
11.000%, 10/01/14
14
|
|
|
30
|
|
|
|
1,593,750
|
|
|
|
1.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Shares
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER FINANCE 0.5%
|
|
|
|
|
|
Ally Financial, Inc., 7.000%, 12/31/11
2,14
|
|
|
1
|
|
|
$
|
409,198
|
|
|
|
0.4
|
%
|
GMAC Capital Trust I, Series 2, VAR, 8.125%, 02/15/40
|
|
|
4
|
|
|
|
65,700
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
474,898
|
|
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Financials
|
|
|
|
|
|
|
2,068,648
|
|
|
|
2.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INFORMATION TECHNOLOGY 0.0%
|
|
|
|
|
|
COMPUTERS & PERIPHERALS 0.0%
|
|
|
|
|
|
Stratus Technologies, Inc., ADR
1,3,9
|
|
|
2
|
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 0.1%
|
|
|
|
|
|
CONTAINERS & PACKAGING 0.1%
|
|
|
|
|
|
Constar International, Inc., Pfd
1,3,9
|
|
|
|
11
|
|
|
90,682
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Preferred Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $4,689,223)
|
|
|
|
|
|
|
3,554,175
|
|
|
|
3.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMON STOCKS 3.4%
|
|
|
|
|
|
CONSUMER DISCRETIONARY 1.0%
|
|
|
|
|
|
AUTO COMPONENTS 0.0%
|
|
|
|
|
|
Glasstech, Inc., Class C
1,3,9
|
|
|
|
11
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTOMOBILES 0.3%
|
|
|
|
|
|
General Motors Co.
1
|
|
|
15
|
|
|
|
295,617
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BROADCASTING & CABLE TV 0.0%
12
|
|
|
|
|
|
Adelphia Recovery Trust
1,3,9
|
|
|
157
|
|
|
|
2
|
|
|
|
0.0
|
12
|
Adelphia Recovery Trust
|
|
|
1,297
|
|
|
|
25,937
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,939
|
|
|
|
0.0
|
12
|
LEISURE EQUIPMENT & PRODUCTS 0.3%
|
|
|
|
|
|
True Temper Holdings, Inc. ADR
1,3,9
|
|
|
4
|
|
|
|
322,470
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TEXTILES, APPAREL & LUXURY GOODS 0.4%
|
|
|
|
|
|
Broder Brothers Co.
1,3,9
|
|
|
38
|
|
|
|
375,530
|
|
|
|
0.4
|
|
WestPoint International, Inc.
1,3,9
|
|
|
28
|
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
375,530
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Discretionary
|
|
|
|
|
|
|
1,019,556
|
|
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER STAPLES 0.0%
|
|
|
|
|
|
FOOD PRODUCTS 0.0%
|
|
|
|
|
|
Eurofresh, Inc., ADR
1,3,9
|
|
|
106
|
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIALS 0.0%
12
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES 0.0%
12
|
|
|
|
|
|
Leucadia National Corp.
|
|
|
|
11
|
|
|
9,889
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Shares
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIALS 0.1%
|
|
|
|
|
|
BUILDING
PRODUCTS 0.0%
12
|
|
|
|
|
|
Jupiter Holding I Corp.
1,3,9
|
|
|
8
|
|
|
$
|
40,845
|
|
|
|
0.0
|
%
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL SERVICES & SUPPLIES 0.1%
|
|
|
|
|
|
Quad/Graphics, Inc.
|
|
|
3
|
|
|
|
57,643
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Industrials
|
|
|
|
|
|
|
98,488
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INFORMATION TECHNOLOGY 0.7%
|
|
|
|
|
|
COMPUTERS & PERIPHERALS 0.0%
|
|
|
|
|
|
Stratus Technologies, Inc., ADR
1,3,9
|
|
|
8
|
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT
SERVICES 0.0%
12
|
|
|
|
|
|
Unisys Corp.
1
|
|
|
3
|
|
|
|
50,427
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 0.7%
|
|
|
|
|
|
Magnachip Semiconductor Corp., (Luxembourg)
1
|
|
|
99
|
|
|
|
666,221
|
|
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Information Technology
|
|
|
|
|
|
|
716,648
|
|
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 1.2%
|
|
|
|
|
|
CHEMICALS 0.3%
|
|
|
|
|
|
LyondellBasell Industries N.V., (Netherlands), Class A
|
|
|
10
|
|
|
|
242,761
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSTRUCTION MATERIALS 0.0%
12
|
|
|
|
|
|
U.S. Concrete, Inc.
1
|
|
|
10
|
|
|
|
41,788
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTAINERS & PACKAGING 0.0%
12
|
|
|
|
|
|
Constar International, Inc., ADR
1,3,9
|
|
|
4
|
|
|
|
1,199
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
METALS & MINING 0.2%
|
|
|
|
|
|
Lexington Coal Co.
1,3,9
|
|
|
25
|
|
|
|
7,973
|
|
|
|
0.0
|
12
|
Wolverine Tube, Inc., ADR
1,3,9
|
|
|
8
|
|
|
|
183,546
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
191,519
|
|
|
|
0.2
|
|
PAPER & FOREST PRODUCTS 0.7%
|
|
|
|
|
|
AbitibiBowater, Inc., (Canada)
1
|
|
|
43
|
|
|
|
647,293
|
|
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Materials
|
|
|
|
|
|
|
1,124,560
|
|
|
|
1.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.4%
|
|
|
|
|
|
DIVERSIFIED TELECOMMUNICATION SERVICES 0.4%
|
|
|
|
|
|
AboveNet, Inc.
|
|
|
7
|
|
|
|
358,691
|
|
|
|
0.4
|
|
XO Holdings, Inc.
1,3,9
|
|
|
1
|
|
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
358,691
|
|
|
|
0.4
|
|
WIRELESS TELECOMMUNICATION SERVICES 0.0%
12
|
|
|
|
|
|
USA Mobility, Inc.
|
|
|
|
11
|
|
|
383
|
|
|
|
0.0
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Telecommunication Services
|
|
|
|
|
|
|
359,074
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Description
|
|
Shares
(000)
|
|
|
Value
|
|
|
Percent
of Net
Assets*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES
0.0%
12
|
|
|
|
|
|
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 0.0%
12
|
|
GenOn Energy, Inc.
1
|
|
|
3
|
|
|
$
|
7,359
|
|
|
|
0.0
|
12
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $6,941,149)
|
|
|
|
|
|
|
3,335,574
|
|
|
|
3.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Warrants
|
|
|
|
|
|
|
|
WARRANTS 0.3%
|
|
|
|
|
|
CONSUMER DISCRETIONARY 0.3%
|
|
|
|
|
|
AUTOMOBILES 0.3%
|
|
|
|
|
|
General Motors Co., expiring 07/10/16
1
|
|
|
13
|
|
|
|
154,963
|
|
|
|
0.2
|
|
General Motors Co., expiring 07/10/19
1
|
|
|
13
|
|
|
|
105,572
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer Discretionary
|
|
|
|
|
|
|
260,535
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Warrants
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $486,355)
|
|
|
|
|
|
|
260,535
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $12,116,727)
|
|
|
|
|
|
|
7,150,284
|
|
|
|
7.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
(000)
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT 1.8%
|
|
|
|
|
|
INVESTMENT COMPANY 1.8%
|
|
|
|
|
|
JPMorgan Prime Money Market Fund, Institutional Class Shares,
0.070%,
5,13
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $1,791,040)
|
|
|
1,791
|
|
|
|
1,791,040
|
|
|
|
1.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $155,667,638)
|
|
|
|
|
|
|
139,632,974
|
|
|
|
142.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Stock and Liabilities
in Excess of Other Assets
|
|
|
|
(41,404,417
|
)
|
|
|
(42.2
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets Applicable to
Common Stockholders
|
|
|
$
|
98,228,557
|
|
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADR
|
|
American Depositary Receipt
|
VAR
|
|
Variable Rate Security. The interest rate shown is the rate in effect as of September 30, 2011.
|
*
|
|
Applicable to common stockholders.
|
1
|
|
Non-income producing security.
|
2
|
|
Security is exempt from registration under Rule 144A of the Securities Act of 1933. Unless otherwise indicated, this security has been determined to be liquid
under procedures established by the Board of Directors and may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities amounted to $40,727,800 and 41.5% of net assets applicable to common
stockholders.
|
3
|
|
Fair valued security. These securities amounted to $5,248,338 and 5.3% of net assets applicable to common stockholders.
|
5
|
|
Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.
|
9
|
|
Security deemed to be illiquid. These securities amounted to $5,248,338 and 5.3% of net assets applicable to common stockholders.
|
10
|
|
All or a portion of the security is reserved for current or potential holdings of swaps, TBAs, when-issued securities, delayed delivery securities and unfunded
commitments.
|
11
|
|
Amount rounds to less than one thousand (par or shares).
|
12
|
|
Amount rounds to less than 0.1%.
|
13
|
|
The rate shown is the current yield as of September 30, 2011.
|
14
|
|
Security is perpetual and, thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be
structured to adjust thereafter. The date shown reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2011.
|
^
|
|
All or a portion of the security is unsettled as of September 30, 2011. Unless otherwise indicated, the coupon rate is undetermined. The coupon rate shown
may not be accrued for the entire position.
|
20
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
The
various inputs that are used in determining the fair value of the Funds investments are summarized into the three broad levels listed below.
|
|
Level 1 quoted prices in active markets for identical securities
|
|
|
Level 2 other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
|
|
|
Level 3 significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments)
|
A financial instruments level within the fair value hierarchy is based on the
lowest level of any input both individually and in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those
securities.
The following table represents each valuation input by sector
as presented in the Schedule of Portfolio Investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1
Quoted prices
|
|
|
Level 2
Other significant
observable
inputs
|
|
|
Level 3
Significant
unobservable
inputs
|
|
|
Total
|
|
Investments in Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
$
|
321,554
|
|
|
$
|
|
|
|
$
|
698,002
|
|
|
$
|
1,019,556
|
|
Consumer Staples
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
|
|
(a)
|
Financials
|
|
|
9,889
|
|
|
|
|
|
|
|
|
|
|
|
9,889
|
|
Industrials
|
|
|
57,643
|
|
|
|
|
|
|
|
40,845
|
|
|
|
98,488
|
|
Information Technology
|
|
|
716,648
|
|
|
|
|
|
|
|
|
|
|
|
716,648
|
|
Materials
|
|
|
931,842
|
|
|
|
|
|
|
|
192,718
|
|
|
|
1,124,560
|
|
Telecommunication Services
|
|
|
359,074
|
|
|
|
|
|
|
|
|
|
|
|
359,074
|
|
Utilities
|
|
|
7,359
|
|
|
|
|
|
|
|
|
|
|
|
7,359
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks
|
|
|
2,404,009
|
|
|
|
|
|
|
|
931,565
|
|
|
|
3,335,574
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
|
|
|
|
|
1,247,095
|
|
|
|
147,750
|
|
|
|
1,394,845
|
|
Consumer Staples
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
|
|
(a)
|
Financials
|
|
|
|
|
|
|
2,068,648
|
|
|
|
|
|
|
|
2,068,648
|
|
Information Technology
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
|
|
(a)
|
Materials
|
|
|
|
|
|
|
|
|
|
|
90,682
|
|
|
|
90,682
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Preferred Stocks
|
|
|
|
|
|
|
3,315,743
|
|
|
|
238,432
|
|
|
|
3,554,175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-Backed Securities
|
|
|
|
|
|
|
|
|
|
|
1,497,296
|
|
|
|
1,497,296
|
|
Convertible Bond
|
|
|
|
|
|
|
40,078
|
|
|
|
|
|
|
|
40,078
|
|
Corporate Bonds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
|
|
|
|
|
31,600,552
|
|
|
|
|
|
|
|
31,600,552
|
|
Consumer Staples
|
|
|
|
|
|
|
4,376,669
|
|
|
|
399,713
|
|
|
|
4,776,382
|
|
Energy
|
|
|
|
|
|
|
12,023,230
|
|
|
|
|
|
|
|
12,023,230
|
|
Financials
|
|
|
|
|
|
|
11,770,878
|
|
|
|
|
|
|
|
11,770,878
|
|
Health Care
|
|
|
|
|
|
|
5,342,035
|
|
|
|
792,053
|
|
|
|
6,134,088
|
|
Industrials
|
|
|
|
|
|
|
12,851,590
|
|
|
|
|
|
|
|
12,851,590
|
|
Information Technology
|
|
|
|
|
|
|
6,001,403
|
|
|
|
|
|
|
|
6,001,403
|
|
Materials
|
|
|
|
|
|
|
10,170,203
|
|
|
|
565,448
|
|
|
|
10,735,651
|
|
21
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (continued)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1
Quoted prices
|
|
|
Level 2
Other significant
observable
inputs
|
|
|
Level 3
Significant
unobservable
inputs
|
|
|
Total
|
|
Telecommunication Services
|
|
$
|
|
|
|
$
|
8,154,959
|
|
|
$
|
|
|
|
$
|
8,154,959
|
|
Utilities
|
|
|
|
|
|
|
4,441,350
|
|
|
|
|
|
|
|
4,441,350
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporate Bonds
|
|
|
|
|
|
|
106,732,869
|
|
|
|
1,757,214
|
|
|
|
108,490,083
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Debt Securities
|
|
|
|
|
|
|
106,772,947
|
|
|
|
3,254,510
|
|
|
|
110,027,457
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan Participations & Assignments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
|
|
|
|
|
7,515,933
|
|
|
|
|
|
|
|
7,515,933
|
|
Consumer Staples
|
|
|
|
|
|
|
925,656
|
|
|
|
|
|
|
|
925,656
|
|
Energy
|
|
|
|
|
|
|
192,602
|
|
|
|
|
|
|
|
192,602
|
|
Financials
|
|
|
|
|
|
|
1,988,688
|
|
|
|
|
|
|
|
1,988,688
|
|
Health Care
|
|
|
|
|
|
|
269,169
|
|
|
|
|
|
|
|
269,169
|
|
Industrials
|
|
|
|
|
|
|
2,912,996
|
|
|
|
125,535
|
|
|
|
3,038,531
|
|
Information Technology
|
|
|
|
|
|
|
1,939,051
|
|
|
|
698,296
|
|
|
|
2,637,347
|
|
Materials
|
|
|
|
|
|
|
2,029,215
|
|
|
|
|
|
|
|
2,029,215
|
|
Telecommunication Services
|
|
|
|
|
|
|
492,750
|
|
|
|
|
|
|
|
492,750
|
|
Utilities
|
|
|
|
|
|
|
1,574,302
|
|
|
|
|
|
|
|
1,574,302
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loan Participations & Assignments
|
|
|
|
|
|
|
19,840,362
|
|
|
|
823,831
|
|
|
|
20,664,193
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
|
|
|
|
|
260,535
|
|
|
|
|
|
|
|
260,535
|
|
Short-Term Investment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Company
|
|
|
1,791,040
|
|
|
|
|
|
|
|
|
|
|
|
1,791,040
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments in Securities
|
|
$
|
4,195,049
|
|
|
$
|
130,189,587
|
|
|
$
|
5,248,338
|
|
|
$
|
139,632,974
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
Security has a zero value.
|
|
|
There were no transfers between Levels 1 and 2 during the period ended September 30, 2011.
|
The following is a summary of investments for which significant unobservable inputs
(Level 3) were used in determining fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as
of 12/31/10
|
|
|
Realized
gain (loss)
|
|
|
Change in
unrealized
appreciation
(depreciation)
|
|
|
Net
amortization
(accretion)
|
|
|
Purchases
1
|
|
|
Sales
2
|
|
|
Transfers
into
Level 3
|
|
|
Transfers
out of
Level 3
|
|
|
Balance as
of 9/30/11
|
|
Investments in Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-Backed Securities
|
|
$
|
1,488,539
|
|
|
$
|
|
|
|
$
|
6,804
|
|
|
$
|
7,276
|
|
|
$
|
|
|
|
$
|
(5,323
|
)
|
|
$
|
|
|
|
$
|
|
|
|
$
|
1,497,296
|
|
Common Stocks Consumer Discretionary
|
|
|
343,970
|
|
|
|
|
|
|
|
354,032
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
698,002
|
|
Common Stocks Consumer Staples
|
|
|
219,182
|
|
|
|
|
|
|
|
(219,182
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Common Stocks Industrials
|
|
|
187,887
|
|
|
|
|
|
|
|
(147,042
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,845
|
|
Common Stocks Information Technology
|
|
|
1,030,974
|
|
|
|
|
|
|
|
521,746
|
|
|
|
|
|
|
|
1,552,720
|
|
|
|
(3,105,440
|
)
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Common Stocks Materials
|
|
|
27,083
|
|
|
|
|
|
|
|
(82,350
|
)
|
|
|
|
|
|
|
247,985
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
192,718
|
|
22
P
ACHOLDER
H
IGH
Y
IELD
F
UND,
I
NC.
Schedule of Portfolio Investments (concluded)
As of September 30, 2011 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as
of 12/31/10
|
|
|
Realized
gain (loss)
|
|
|
Change in
unrealized
appreciation
(depreciation)
|
|
|
Net
amortization
(accretion)
|
|
|
Purchases
1
|
|
|
Sales
2
|
|
|
Transfers
into
Level 3
|
|
|
Transfers
out of
Level 3
|
|
|
Balance as
of 9/30/11
|
|
Common Stocks Telecommunication Services
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
(a)
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
|
(a)
|
Corporate Bonds Consumer Discretionary
|
|
|
424,142
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(424,142
|
)
|
|
|
|
|
Corporate Bonds Consumer Staples
|
|
|
406,725
|
|
|
|
|
|
|
|
(54,505
|
)
|
|
|
|
|
|
|
47,493
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
399,713
|
|
Corporate Bonds Financials
|
|
|
880,000
|
|
|
|
19,756
|
|
|
|
134,460
|
|
|
|
(46
|
)
|
|
|
|
|
|
|
(1,034,170
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds Health Care
|
|
|
932,291
|
|
|
|
|
|
|
|
(298,798
|
)
|
|
|
(809
|
)
|
|
|
159,369
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
792,053
|
|
Corporate Bonds Industrials
|
|
|
465,443
|
|
|
|
3,862
|
|
|
|
(30,092
|
)
|
|
|
261
|
|
|
|
2,030
|
|
|
|
(330,254
|
)
|
|
|
|
|
|
|
(111,250
|
)
|
|
|
|
|
Corporate Bonds Information Technology
|
|
|
418,093
|
|
|
|
|
|
|
|
4,907
|
|
|
|
|
|
|
|
|
|
|
|
(423,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bonds Materials
|
|
|
84,204
|
|
|
|
|
|
|
|
(48,568
|
)
|
|
|
|
|
|
|
529,812
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
565,448
|
|
Loan Participations & Assignments Financials
|
|
|
817,789
|
|
|
|
(143,471
|
)
|
|
|
138,689
|
|
|
|
|
|
|
|
|
|
|
|
(813,007
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan Participations & Assignments Industrials
|
|
|
123,718
|
|
|
|
|
|
|
|
550
|
|
|
|
|
|
|
|
1,267
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
125,535
|
|
Loan Participations & Assignments Information Technology
|
|
|
857,780
|
|
|
|
|
|
|
|
(41,993
|
)
|
|
|
3,517
|
|
|
|
|
|
|
|
(121,008
|
)
|
|
|
|
|
|
|
|
|
|
|
698,296
|
|
Loan Participations & Assignments Materials
|
|
|
493,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(493,750
|
)
|
|
|
|
|
Preferred Stocks Consumer Discretionary
|
|
|
206,234
|
|
|
|
|
|
|
|
(58,484
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
147,750
|
|
Preferred Stocks Consumer Staples
|
|
|
147,688
|
|
|
|
|
|
|
|
(162,371
|
)
|
|
|
|
|
|
|
14,683
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Preferred Stocks Financials
|
|
|
1,622,814
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,622,814
|
)
|
|
|
|
|
Preferred Stocks Information Technology
|
|
|
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Preferred Stocks Materials
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
90,681
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,682
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
11,178,306
|
|
|
$
|
(119,853
|
)
|
|
$
|
17,804
|
|
|
$
|
10,199
|
|
|
$
|
2,646,040
|
|
|
$
|
(5,832,202
|
)
|
|
$
|
|
|
|
$
|
(2,651,956
|
)
|
|
$
|
5,248,338
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
Security has a zero value.
|
1
|
|
Purchases include all purchases of securities and securities received in corporate actions.
|
2
|
|
Sales include all sales of securities, maturities, paydowns and securities tendered in a corporate action.
|
|
|
Transfers into, and out of, Level 3 are valued utilizing values as of the beginning of the period.
|
|
|
Transfers from Level 2 to Level 3 or from Level 3 to Level 2 are due to a decline or an increase in market activity (e.g. frequency of trades), which resulted in a lack of or
increase in available market inputs to determine price.
|
|
|
The change in unrealized appreciation (depreciation) attributable to securities owned at September 30, 2011, which were valued using significant unobservable inputs (Level
3) amounted to $(751,906).
|
23
ITEM 2. CONTROLS AND PROCEDURES.
|
(a)
|
The Registrants principal executive and principal financial officers have concluded, based on their evaluation of the Registrants
disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrants disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the
Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and
communicated to the Registrants management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
|
|
(b)
|
There were no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company
Act of 1940) that occurred during the Registrants most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal controls over financial reporting.
|
ITEM 3. EXHIBITS.
CERTIFICATIONS PURSUANT TO RULE 30a-2(a) UNDER THE INVESTMENT COMPANY ACT OF 1940 ARE 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.
Pacholder High Yield Fund, Inc.
|
|
|
By:
|
|
/s/ Patricia A. Maleski
|
|
|
Patricia A. Maleski
|
|
|
President and Principal Executive Officer
|
|
|
November 28, 2011
|
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:
|
|
/s/ Patricia A. Maleski
|
|
|
Patricia A. Maleski
|
|
|
President and Principal Executive Officer
|
|
|
November 28, 2011
|
|
|
|
By:
|
|
/s/ Joy C. Dowd
|
|
|
Joy C. Dowd
|
|
|
Treasurer and Principal Financial Officer
|
|
|
November 28, 2011
|
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