Regulatory Filings • Mar 31, 2005
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| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
|---|
| FORM N-Q |
*QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED*
*MANAGEMENT INVESTMENT COMPANY*
| Investment
Company Act file number | |
| --- | --- |
| CREDIT SUISSE HIGH YIELD BOND FUND | |
| (Exact name of registrant as specified in
charter) | |
| c/o Credit Suisse Asset Management, LLC 466 Lexington Avenue New York, New York | 10017 |
| (Address of principal executive offices) | (Zip code) |
| J. Kevin Gao, Esq. 466 Lexington Avenue New York, New York 10017 | |
| (Name and address of agent for service) | |
| Registrant's
telephone number, including area code: | (212)
875-3500 |
| Date of
fiscal year end: | October 31st |
| Date of
reporting period: | November 1,
2004 to January 31, 2005 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-be.htm',USER='dsadagopan',CD='Mar 30 22:45 2005'
*Item 1: Schedule of Investments*
*CREDIT SUISSE HIGH YIELD BOND FUNDSchedule of Investments *January* *31, 2005 (unaudited)
| Principal Amount | Value | |
|---|---|---|
| U.S. | ||
| CORPORATE BONDS132.7% | ||
| AEROSPACE1.6% | ||
| BE | ||
| Aerospace, Inc., Series B, Senior Subordinated Notes (Callable | ||
| 03/01/05 @ $100.00) 8.000%, 03/01/08 § | $ 1,000,000 | $ 995,000 |
| L 3 | ||
| Communications Corp., Rule 144A, Senior Subordinated Notes (Callable 1/15/10 @ $102.94) 5.875%, 01/15/15 | 2,000,000 | 2,000,000 |
| Sequa Corp., | ||
| Series B, Senior Notes 8.875%, 04/01/08 | 850,000 | 918,000 |
| 3,913,000 | ||
| AIRLINES0.4% | ||
| American | ||
| Airlines, Inc., Series 01-2, Pass Thru Certificates 7.800%, | ||
| 10/01/06 § | 1,200,000 | 1,056,686 |
| AUTOMOBILE | ||
| MANUFACTURING/VEHICLE PARTS4.0% | ||
| Accuride | ||
| Corp., Rule 144A, Senior Subordinated Notes (Callable 02/01/10 @ $104.25) 8.500%, | ||
| 02/01/15 | 1,100,000 | 1,138,500 |
| Autocam | ||
| Corp., Global Senior Subordinated Notes (Callable 06/15/09 @ $105.44) 10.875%, | ||
| 06/15/14 | 1,000,000 | 985,000 |
| Collins & | ||
| Aikman Products Corp., Global Company Guaranteed Notes (Callable 12/31/06 @ $105.38) | ||
| 10.750%, 12/31/11 § | 1,250,000 | 1,243,750 |
| Collins & | ||
| Aikman Products Corp., Rule 144A, Senior Subordinated Notes 12.875%, | ||
| 08/15/12 § | 1,825,000 | 1,519,312 |
| Dura | ||
| Operating Corp, Series D, Company Guaranteed Notes (Callable 05/01/05 @ $103.00) | ||
| 9.000%, 05/01/09 § | 1,000,000 | 970,000 |
| Key Plastics | ||
| Holdings, Inc., Series B, Company Guaranteed Notes (Callable 03/15/05 @ $100.00) | ||
| 10.250%, 03/15/07 Ø^ | 250,000 | 25,000 |
| Metaldyne | ||
| Corp., Global Company Guaranteed Notes (Callable 06/15/07 @ $105.50) 11.000%, | ||
| 06/15/12 § | 1,200,000 | 1,002,000 |
| Motor Coach | ||
| Industries International, Inc., Company Guaranteed Notes (Callable | ||
| 05/01/05 @ $103.75) 11.250%, 05/01/09 | 150,000 | 89,250 |
| Stanadyne | ||
| Corp., Rule 144A, Senior Subordinated Notes (Callable 08/15/09 @ $105.00) 10.000%, | ||
| 08/15/14 | 900,000 | 967,500 |
| Tenneco | ||
| Automotive, Inc., Rule 144A, Senior Subordinated Notes (Callable | ||
| 11/15/09 @ $104.31) 8.625%, 11/15/14 § | 800,000 | 836,000 |
| Transportation | ||
| Technologies Industries, Inc., Rule 144A, Senior Subordinated Notes (Callable | ||
| 03/31/06 @ $102.00) 12.500%, 03/31/10 | 1,000,000 | 1,037,500 |
| 9,813,812 | ||
| BROADBAND1.0% | ||
| Level 3 | ||
| Communications, Inc., Senior Notes (Callable 03/10/05 @ $103.04) 9.125%, | ||
| 05/01/08 § | 750,000 | 600,000 |
| Level 3 | ||
| Financing, Inc., Rule 144A, Senior Notes (Callable 10/15/07 @ $105.38) | ||
| 10.750%, 10/15/11 | 750,000 | 650,625 |
| Primus | ||
| Telecommunications Group, Inc., Global Senior Notes (Callable 01/15/09 @ | ||
| $104.00) 8.000%, 01/15/14 § | 1,500,000 | 1,275,000 |
| 2,525,625 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| BROADCAST/OUTDOOR1.9% | ||
| Emmis | ||
| Operating Co., Global Senior Subordinated Notes (Callable 05/15/08 @ $103.44) | ||
| 6.875%, 05/15/12 | 500,000 | 515,000 |
| Gray | ||
| Television, Inc., Global Company Guaranteed Notes (Callable 12/15/06 @ | ||
| $104.62) 9.250%, 12/15/11 | 1,000,000 | 1,117,500 |
| Interep | ||
| National Radio Sales, Inc., Series B, Company Guaranteed Notes (Callable | ||
| 07/01/05 @ $101.67) 10.000%, 07/01/08 § | 800,000 | 614,000 |
| Paxson | ||
| Communications Corp., Global Company Guaranteed Notes (Callable 01/15/06 @ $106.12) | ||
| 0.000%, 01/15/06 + | 2,000,000 | 1,940,000 |
| Young | ||
| Broadcasting, Inc., Global Company GuaranteedNotes (Callable 03/01/06 @ | ||
| $105.00) 10.000%, 03/01/11 § | 490,000 | 519,400 |
| 4,705,900 | ||
| BUILDING | ||
| PRODUCTS4.8% | ||
| Associated | ||
| Materials, Inc., Global Senior Discount Notes (Callable03/01/09 @ $105.62) 0.000%, | ||
| 03/01/09 +§ | 1,000,000 | 720,000 |
| Building | ||
| Materials Corp., Rule 144A, Senior Notes (Callable 08/01/09 @ $103.88) 7.750%, | ||
| 08/01/14 | 1,500,000 | 1,522,500 |
| Building | ||
| Materials Corp., Series B, Senior Notes 8.000%, 10/15/07 | 500,000 | 511,250 |
| Dayton | ||
| Superior Corp., Company Guaranteed Notes (Callable 06/15/07 @ $102.17) 13.000%, 06/15/09 § | 600,000 | 630,000 |
| Dayton | ||
| Superior Corp., Global Secured Notes (Callable 6/15/06 @ $105.62) 10.750%, 09/15/08 | 500,000 | 540,000 |
| Goodman | ||
| Global Holdings Co., Inc., Rule 144A, Senior Subordinated Notes (Callable 12/15/08 @ $103.94) 7.875%, 12/15/12 | 1,000,000 | 970,000 |
| Interface, Inc., | ||
| Global Senior Subordinated Notes (Callable 02/01/09 @ $104.75) 9.500%, 02/01/14 § | 1,250,000 | 1,362,500 |
| Maax | ||
| Holdings, Inc., Rule 144A, Senior Discount Notes (Callable 12/15/08 @ $105.63) (Canada) 0.000%, 12/15/08 + | 1,250,000 | 793,750 |
| Norcraft | ||
| Holdings LP, Global Senior Discount Notes (Callable 09/01/08 @ $104.88) 0.000%, 09/01/08 + | 750,000 | 558,750 |
| Ply Gem | ||
| Industries, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50) 9.000%, 02/15/12 § | 1,000,000 | 1,000,000 |
| RMCC | ||
| Acquisition Co., Rule 144A, Senior Subordinated Notes (Callable 11/01/08 @ $104.75) 9.500%, 11/01/12 | 1,250,000 | 1,237,500 |
| Texas Industries, Inc., | ||
| Global Senior Notes (Callable 06/15/07 @ $105.12) 10.250%, 06/15/11 | 750,000 | 873,750 |
| Werner | ||
| Holding Co., Inc., Series A, Company Guaranteed Notes (Callable 11/15/05 @ $100) 10.000%, 11/15/07 § | 1,350,000 | 1,107,000 |
| 11,827,000 | ||
| CABLE9.0% | ||
| Adelphia | ||
| Communications Corp., Rule 144A, Secured Notes (Callable 02/15/08 @ $105.38) 10.875%, 10/01/10 Ø | 3,000,000 | 2,610,000 |
| Atlantic | ||
| Broadband Finance LLC, Rule 144A, Senior Subordinated Notes (Callable 01/15/09 @ $104.69) 9.375%, 01/15/14 § | 1,600,000 | 1,544,000 |
| Cablevision | ||
| Systems Corp., Rule 144A, Senior Notes 8.000%, 04/15/12 § | 1,500,000 | 1,627,500 |
| CCO Holdings | ||
| LLC, Global Senior Notes (Callable 11/15/08 @ 104.38) 8.750%, 11/15/13 § | 2,100,000 | 2,142,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Century | ||
| Communications Corp., Senior Discount Notes 0.010%, 12/31/49 ا | 1,000,000 | 945,000 |
| Charter | ||
| Communications Holdings LLC, Senior Discount Notes (Callable 04/01/05 @ $102.88) 9.920%, 04/01/11 +§ | 3,650,000 | 2,920,000 |
| Charter | ||
| Communications Holdings LLC, Senior Notes (Callable 04/01/05 @ $102.88) 8.625%, 04/01/09 | 3,050,000 | 2,455,250 |
| CSC | ||
| Holdings, Inc., Senior Notes 7.250%, 07/15/08 | 85,000 | 90,312 |
| CSC | ||
| Holdings, Inc., Series B, Senior Notes 7.625%, 04/01/11 § | 1,500,000 | 1,642,500 |
| DIVA Systems | ||
| Corp., Series B, Senior Discount Notes (Callable 03/01/05 @ $102.10) 1.000%, 03/01/08 Ø ^ | 1,750,000 | 4,375 |
| Insight | ||
| Communications Company, Inc., Senior Discount Notes (Callable 02/15/06 @ $106.12) 0.000%, 02/15/06 +§ | 2,000,000 | 1,970,000 |
| Insight | ||
| Midwest/Insight Capital, Senior Notes (Callable 10/01/05 @ $103.25) 9.750%, 10/01/09 | 200,000 | 211,000 |
| Insight | ||
| Midwest/Insight Capital Corp., Global Senior Notes (Callable 11/01/05 @ $105.25) 10.500%, 11/01/10 | 500,000 | 547,500 |
| Kabel | ||
| Deutschland Gmbh, Rule 144A, Senior Notes (Callable 07/01/09 @ $105.31) 10.625%, 07/01/14 | 1,000,000 | 1,135,000 |
| Mediacom LLC | ||
| Capital Corp., Senior Notes (Callable 01/15/06 @ $104.75) 9.500%, 01/15/13 § | 2,500,000 | 2,506,250 |
| 22,350,687 | ||
| CAPITAL | ||
| GOODS1.8% | ||
| Blount, Inc., | ||
| Senior Subordinated Notes (Callable 08/01/08 @ $104.44) 8.875%, 08/01/12 | 1,000,000 | 1,092,500 |
| Case New | ||
| Holland Inc, Rule 144A, Senior Notes 9.250%, 08/01/11 | 750,000 | 823,125 |
| Case New | ||
| Holland, Inc., Rule 144A, Senior Notes 9.250%, 08/01/11 | 100,000 | 109,750 |
| JII Holdings | ||
| LLC, Global Secured Notes (Callable 01/01/06 @ $103.25) 13.000%, 04/01/07 | 1,752,500 | 1,638,588 |
| Terex Corp., | ||
| Global Company Guaranteed Notes (Callable 01/15/09 @ $103.69) 7.375%, 01/15/14 § | 650,000 | 685,750 |
| 4,349,713 | ||
| CHEMICALS9.0% | ||
| Crompton | ||
| Corp., Rule 144A, Senior Notes (Callable 08/01/08 @ $104.94) 9.875%, 08/01/12 | 1,000,000 | 1,125,000 |
| Crystal US | ||
| Holdings, Rule 144A, Senior Discount Notes (Callable 10/01/09 @ $105.25) 0.000%, 10/01/09 + | 1,350,000 | 923,063 |
| Equistar | ||
| Chemicals LP/ Equistar Funding Corp., Global Company Guaranteed Notes 10.125%, 09/01/08 | 1,000,000 | 1,145,000 |
| HMP Equity | ||
| Holdings Corp., Global Senior Discount Notes (Callable11/15/05 @ $72.79) 0.010%, | ||
| 05/15/08 | 1,100,000 | 739,750 |
| Huntsman | ||
| Company LLC, Global Company Guaranteed Notes (Callable 10/15/07 @ $105.81) 11.625%, 10/15/10 | 350,000 | 409,500 |
| Huntsman | ||
| Company LLC, Rule 144A, Company Guaranteed Notes (Callable 07/15/08 @ $105.75) 11.750%, 07/15/12 # | 1,200,000 | 1,428,000 |
| Huntsman | ||
| International Holdings LLC, Senior Discount Notes (Callable 07/01/05 @ $58.33) 0.010%, 12/31/09 | 9,345,000 | 5,291,606 |
| IMC | ||
| Global, Inc., Series B, Global Company Guaranteed Notes (Callable 06/01/06 @ $105.63) 11.250%, 06/01/11 | 1,450,000 | 1,645,750 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Invista, | ||
| Rule 144A, Notes (Callable 05/01/08 @ $104.63) 9.250%, 05/01/12 | 500,000 | 552,500 |
| Koppers | ||
| Industry, Inc., Rule 144A, Senior Discount Notes (Callable 11/15/09 @ $104.94) 0.000%, 11/15/09 + | 1,200,000 | 756,000 |
| Lyondell | ||
| Chemical Co., Global Company Guaranteed Notes (Callable 06/01/08 @ $105.25) 10.500%, 06/01/13 § | 1,000,000 | 1,185,000 |
| Lyondell | ||
| Chemical Co., Global Company Guaranteed Notes (Callable 12/15/05 @ $104.75) 9.500%, 12/15/08 | 1,400,000 | 1,519,000 |
| Millennium | ||
| America, Inc., Global Company Guaranteed Notes 9.250%, 06/15/08 | 800,000 | 892,000 |
| Nalco Co., Global | ||
| Senior Subordinated Notes (Callable 11/15/08 @ $104.44) 8.875%, 11/15/13 § | 900,000 | 985,500 |
| PolyOne | ||
| Corp., Global Company Guaranteed Notes (Callable 05/15/07 @ $105.31) 10.625%, 05/15/10 | 750,000 | 840,000 |
| Radnor | ||
| Holdings Corp., Global Senior Notes (Callable 03/15/07 @ $105.50) 11.000%, 03/15/10 § | 1,000,000 | 912,500 |
| Resolution | ||
| Performance Products LLC, Global Senior Subordinated Notes(Callable 11/15/05 @ $106.75) 13.500%, 11/15/10 § | 1,000,000 | 1,107,500 |
| Terra | ||
| Capital, Inc., Global Secured Notes (Callable 06/01/07 @ $105.75) 11.500%, 06/01/10 | 832,000 | 944,320 |
| 22,401,989 | ||
| COMPETITIVE | ||
| LOCAL EXCHANGE CARRIER (CLEC)0.4% | ||
| FairPoint | ||
| Communications, Inc., Series B, Senior Subordinated Notes (Callable 05/01/05 @ $101.58) 9.500%, 05/01/08 | 900,000 | 918,000 |
| CONSUMER | ||
| PRODUCTS/TOBACCO5.7% | ||
| AAC Group | ||
| Holding Corp., Rule 144A, Senior Discount Notes (Callable 10/01/08 @ $105.13) 0.000%, 10/01/08 + | 850,000 | 569,500 |
| Ames True | ||
| Temper, Inc., Global Senior Subordinated Notes (Callable | ||
| 7/15/08 @ $105.00) 10.000%, 07/15/12 | 1,450,000 | 1,377,500 |
| Ames True | ||
| Temper, Inc., Rule 144A, Notes (Callable 01/15/07 @ $103.00) 6.640%, 04/15/05 # | 500,000 | 488,750 |
| Amscan | ||
| Holdings, Inc., Global Senior Subordinated Notes (Callable 05/01/09 @ $104.38) 8.750%, 05/01/14 | 1,050,000 | 1,050,000 |
| Del | ||
| Laboratories, Inc., Rule 144A, Senior Subordinated Notes (Callable 02/01/08 @ $104.00) 8.000%, 02/01/12 § | 1,000,000 | 995,000 |
| Diamond | ||
| Brands Operating Corp., Company Guaranteed Notes (Callable 04/15/05 @ $101.69) 10.125%, 04/15/08 Ø | 3,097,000 | 61,940 |
| General | ||
| Binding Corp., Company Guaranteed Notes (Callable 06/01/05 @ $101.56) 9.375%, 06/01/08 § | 1,050,000 | 1,044,750 |
| Johnsondiversey | ||
| Holdings, Inc., Global Discount Notes (Callable 05/15/07@ $105.34) 0.000%, | ||
| 05/15/07 + | 1,500,000 | 1,308,750 |
| PCA LLC/PCA | ||
| Finance Corp., Global Senior Notes 11.875%, | ||
| 08/01/09 | 1,000,000 | 855,000 |
| Playtex | ||
| Products, Inc., Global Company Guaranteed Notes (Callable 06/01/06 @ $104.69) 9.375%, 06/01/11 § | 1,300,000 | 1,397,500 |
| Prestige | ||
| Brands, Inc., Global Senior Subordinated Notes (Callable 04/15/08 @ $104.63) 9.250%, | ||
| 04/15/12 | 1,000,000 | 1,060,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Rayovac | ||
| Corp., Global Senior Subordinated Notes (Callable 10/01/08 @ $104.25) 8.500%, 10/01/13 § | 500,000 | 538,750 |
| Remington | ||
| Arms Company, Inc., Global Company Guaranteed Notes (Callable 02/01/07 @ $105.25) 10.500%, 02/01/11 § | 750,000 | 725,625 |
| Samsonite | ||
| Corp., Global Senior Subordinated Notes (Callable 06/01/08 @ $104.44) 8.875%, 06/01/11 § | 1,000,000 | 1,081,250 |
| Sealy | ||
| Mattress Co., Global Senior Subordinated Notes (Callable | ||
| 06/15/09 @ $104.13) 8.250%, 06/15/14 § | 1,250,000 | 1,281,250 |
| United | ||
| Industries Corp., Series D, Global Company Guaranteed Notes (Callable 04/01/05 @ $103.29) 9.875%, 04/01/09 | 400,000 | 420,500 |
| 14,256,065 | ||
| CONTAINERS3.8% | ||
| Berry | ||
| Plastics Corp., Global Company Guaranteed Notes (Callable 07/15/07 @ $105.38) 10.750%, 07/15/12 | 1,100,000 | 1,259,500 |
| Constar | ||
| International, Inc., Senior Subordinated Notes (Callable 12/01/07 @ $105.50) 11.000%, 12/01/12 § | 1,200,000 | 1,261,500 |
| Graham | ||
| Packaging Company, Inc., Rule 144A, Senior Subordinated Notes (Callable 10/15/09 @ $104.94) 9.875%, 10/15/14 § | 650,000 | 684,125 |
| Graphic | ||
| Packaging Inernational, Corp., Global Senior Subordinated | ||
| Notes (Callable 08/15/08 @ 104.75) 9.500%, 08/15/13 § | 750,000 | 840,000 |
| Intertape | ||
| Polymer US, Inc., Rule 144A, Senior Subordinated Notes (Callable 08/01/09 @ $104.25) 8.500%, 08/01/14 | 1,000,000 | 1,015,000 |
| Owens-Brockway | ||
| Glass Containers, Global Company Guaranteed Notes(Callable 02/15/06 @ $104.44) 8.875%, 02/15/09 | 1,000,000 | 1,086,250 |
| Owens-Brockway | ||
| Glass Containers, Global Company Guaranteed Notes(Callable 05/15/08 @ $104.12) 8.250%, 05/15/13 | 750,000 | 819,375 |
| Pliant | ||
| Corp., Company Guaranteed Notes (Callable 06/01/05 @ $106.50) 13.000%, 06/01/10 § | 500,000 | 492,500 |
| Pliant | ||
| Corp., Global Secured Notes (Callable 06/15/07 @ $105.56) 0.000%, 12/15/06 + | 500,000 | 467,500 |
| Tekni-Plex, Inc., | ||
| Series B, Company Guaranteed Notes (Callable 06/15/05@ $106.38) 12.750%, | ||
| 06/15/10 § | 500,000 | 463,750 |
| U.S. Can | ||
| Corporation, Global Company Guaranteed Notes (Callable 07/15/07 @ $105.44) 10.875%, 07/15/10 | 1,000,000 | 1,075,000 |
| 9,464,500 | ||
| DIVERSIFIED | ||
| TELECOMMUNICATIONS1.2% | ||
| Qwest | ||
| Communications International, Inc., Rule 144A, Senior Notes (Callable 02/15/09 @ $103.75) 7.750%, 02/15/14 §# | 1,000,000 | 1,022,500 |
| Qwest Corp., | ||
| Notes 5.625%, 11/15/08 | 900,000 | 907,875 |
| Qwest Corp., | ||
| Rule 144A, Senior Notes 7.875%, 09/01/11 | 900,000 | 967,500 |
| 2,897,875 | ||
| ENERGY-OTHER5.0% | ||
| Amerigas | ||
| Partners LP Eagle Finance Corp., Series B, Global Senior Notes (Callable 05/20/06@ $104.44) 8.875%, | ||
| 05/20/11 | 1,060,000 | 1,150,100 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Dynegy | ||
| Holdings, Inc., Rule 144A, Secured Notes (Callable 07/15/08 @ $105.06) 10.125%, 07/15/13 | 1,550,000 | 1,728,250 |
| Dynegy | ||
| Holdings, Inc., Senior Notes 6.875%, 04/01/11 § | 250,000 | 233,750 |
| El Paso CGP | ||
| Co., Notes 6.375%, 02/01/09 § | 450,000 | 451,688 |
| El Paso CGP | ||
| Co., Notes 7.750%, 06/15/10 § | 650,000 | 678,437 |
| El Paso | ||
| Corp., Senior Notes 7.000%, 05/15/11 § | 1,000,000 | 1,010,000 |
| El Paso | ||
| Natural Gas, Series A, Global Senior Notes (Callable 08/01/07 @ $103.81) 7.625%, 08/01/10 | 1,000,000 | 1,102,500 |
| El Paso | ||
| Production Holding Company, Global Company Guaranteed Notes (Callable 06/01/08 @ $103.88) 7.750%, 06/01/13 | 2,800,000 | 2,926,000 |
| Giant | ||
| Industries, Inc., Company Guaranteed Notes (Callable 05/15/09 @ $104.00) 8.000%, 05/15/14 | 450,000 | 467,437 |
| Giant | ||
| Industries, Inc., Global Company Guaranteed Notes (Callable 05/15/07 @ $105.50) 11.000%, 05/15/12 § | 850,000 | 981,750 |
| Reliant | ||
| Energy, Inc., Secured Notes (Callable 12/15/09 @ $103.38) 6.750%, 12/15/14 | 500,000 | 490,000 |
| Reliant | ||
| Resources, Inc., Global Secured Notes (Callable 07/15/08 @ $104.75) 9.500%, 07/15/13 | 1,050,000 | 1,181,250 |
| 12,401,162 | ||
| ENVIRONMENTAL | ||
| SERVICES1.6% | ||
| Allied Waste | ||
| North America, Inc., Series B, Global Senior Notes (Callable 04/15/09 @ $103.69) 7.375%, 04/15/14 § | 3,325,000 | 3,042,375 |
| Waste | ||
| Services, Inc., Rule 144A, Senior Subordinated Notes (Callable 04/15/09 @ $104.75) 9.500%, 04/15/14 § | 1,000,000 | 985,000 |
| 4,027,375 | ||
| FINANCE1.5% | ||
| Corrections | ||
| Corporation of America, Senior Notes, (Callable 05/01/07 @ $103.75) 7.500%, 05/01/11 | 500,000 | 534,375 |
| E*Trade | ||
| Financial Corp., Rule 144A, Senior Notes (Callable 06/15/08 @ $104.00) 8.000%, 06/15/11 | 1,150,000 | 1,242,000 |
| Rainbow | ||
| National Services LLC, Rule 144A, Senior Notes (Callable 09/01/08 @ $104.38) 8.750%, 09/01/12 | 900,000 | 1,017,000 |
| Senior | ||
| Housing Properties Trust, Senior Notes 8.625%, 01/15/12 | 800,000 | 914,000 |
| 3,707,375 | ||
| FOOD | ||
| PROCESSORS/BEVERAGE/BOTTLING2.2% | ||
| Birds Eye | ||
| Foods, Inc., Company Guaranteed Notes (Callable 11/01/05 @ $101.98) 11.875%, 11/01/08 | 177,000 | 184,965 |
| Burns Philp | ||
| Capital Property, Ltd., Global Company Guaranteed Notes(Callable 07/15/07 @ $104.88) 9.750%, 07/15/12 | 1,000,000 | 1,095,000 |
| Land O | ||
| Lakes, Inc., Global Senior Notes (Callable 11/15/06 @ $104.38) 8.750%, 11/15/11 § | 1,250,000 | 1,237,500 |
| Le-Natures, Inc., | ||
| Rule 144A, Senior Subordinated Notes (Callable 06/15/08@ $104.50) 10.000%, | ||
| 06/15/13 # | 600,000 | 666,000 |
| Pinnacle | ||
| Foods Holding Corp., Rule 144A, Senior Subordinated Notes (Callable 12/01/08 @ $104.13) 8.250%, 12/01/13 § | 500,000 | 460,000 |
| Swift & | ||
| Co., Global Senior Subordinated Notes (Callable 10/01/06 @ $106.25) 12.500%, 01/01/10 | 850,000 | 969,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Wornick Co., | ||
| Global Secured Notes (Callable 7/15/08 @ $105.44) 10.875%, | ||
| 07/15/11 | 800,000 | 868,000 |
| 5,480,465 | ||
| GAMING9.8% | ||
| Ameristar | ||
| Casinos, Inc., Global Company Guaranteed Notes (Callable 02/15/06 @ $105.38) 10.750%, 02/15/09 | 1,350,000 | 1,518,750 |
| Argosy | ||
| Gaming Co., Global Senior Subordinated Notes (Callable 01/15/09 @ $103.50) 7.000%, 01/15/14 | 1,500,000 | 1,657,500 |
| Aztar Corp., | ||
| Global Senior Subordinated Notes (Callable 08/15/06 @ $104.50) 9.000%, 08/15/11 | 1,350,000 | 1,488,375 |
| Boyd Gaming | ||
| Corp., Global Company Guaranteed Notes (Callable 08/01/05 @ $104.63) 9.250%, 08/01/09 | 1,200,000 | 1,296,000 |
| Chukchansi | ||
| Economic Development Authority, Rule 144A, Senior Notes (Callable 10/01/06 @ $113.00) 14.500%, 06/15/09 | 2,300,000 | 2,898,000 |
| Circus | ||
| Circus & Eldorado, Global First Mortgage (Callable 03/01/07 @ $105.06) 10.125%, 03/01/12 § | 1,350,000 | 1,458,000 |
| Hard Rock | ||
| Hotel, Inc., Global Notes (Callable 06/01/08 @ $104.44) 8.875%, 06/01/13 | 2,200,000 | 2,431,000 |
| Herbst | ||
| Gaming, Inc., Global Senior Subordinated Notes (Callable | ||
| 6/01/08 @ $104.06) 8.125%, 06/01/12 § | 1,000,000 | 1,065,000 |
| Inn of The | ||
| Mountain Gods, Global Senior Notes (Callable 11/15/07 @ $106.00) 12.000%, 11/15/10 | 1,250,000 | 1,462,500 |
| Isle of | ||
| Capri Casinos Inc., Global Senior Subordinated Notes (Callable | ||
| 03/01/09 @ $103.50) 7.000%, 03/01/14 § | 900,000 | 915,750 |
| Majestic | ||
| Star Casino LLC, Company Guaranteed Notes (Callable 10/15/07 @ $104.75) 9.500%, 10/15/10 | 1,500,000 | 1,593,750 |
| MGM | ||
| Mirage, Inc., Global Senior Notes 6.750%, 09/01/12 | 1,000,000 | 1,052,500 |
| MTR Gaming | ||
| Group, Inc., Series B, Global Company Guaranteed Notes (Callable 04/01/07 @ $104.88) 9.750%, 04/01/10 | 250,000 | 275,000 |
| OED Corp., | ||
| Global Company Guaranteed Notes (Callable 4/15/08 @ $104.38) 8.750%, 04/15/12 | 1,350,000 | 1,329,750 |
| Penn | ||
| National Gaming, Inc., Series B, Global Company Guaranteed Notes (Callable 03/01/05 @ $105.56) 11.125%, 03/01/08 | 1,250,000 | 1,331,250 |
| Riviera | ||
| Holdings Corp., Global Company Guaranteed Notes (Callable 06/15/06 @ $105.50) 11.000%, 06/15/10 | 1,110,000 | 1,248,750 |
| Waterford | ||
| Gaming LLC, Rule 144A, Senior Notes (Callable 09/15/08 @ $103.55) 8.625%, 09/15/12 | 364,000 | 394,940 |
| Wheeling | ||
| Island Gaming, Inc., Global Company Guaranteed Notes (Callable 12/15/05 @ $105.06) 10.125%, 12/15/09 | 250,000 | 268,750 |
| Windsor | ||
| Woodmont Black Hawk, Series B, First Mortgage Notes (Callable 02/11/05 @ $104.33) 13.000%, 03/15/05 Ø^ | 2,456,000 | 73,680 |
| Wynn Las | ||
| Vegas LLC, Rule 144A, First Mortgage Notes (Callable 12/01/09 @ $103.31) 6.625%, 12/01/14 | 500,000 | 493,750 |
| 24,252,995 | ||
| HEALTHCARE | ||
| FACILITIES/SUPPLIES6.5% | ||
| AMR | ||
| Holdco., Inc./Emcare Holdco., Inc., Rule 144A, Senior Subordinated Notes (Callable 02/15/05 @ 105.00) 10.000%, 02/15/15, | 500,000 | 500,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Ardent | ||
| Health Services, Inc., Global Senior Subordinated Notes (Callable 08/15/08 @ $105.00) | ||
| 10.000%, 08/15/13 | 750,000 | 780,000 |
| CDRV | ||
| Investors, Inc., Rule 144A, Senior Discount Notes (Callable 1/01/10 | ||
| @ $104.81) 0.000%, 01/01/10 + | 1,800,000 | 1,084,500 |
| Concentra | ||
| Operating Corp., Global Company Guaranteed Notes (Callable 08/15/07 @ $104.75) | ||
| 9.500%, 08/15/10 | 1,000,000 | 1,115,000 |
| Extendicare | ||
| Health Services, Inc., Senior Subordinated Notes (Callable 05/01/09 @ $103.44) | ||
| 6.875%, 05/01/14 | 1,000,000 | 1,017,500 |
| Fisher | ||
| Scientific International, Inc., Global Senior Subordinated Notes (Callable | ||
| 05/01/07 @ $104.06) 8.125%, 05/01/12 | 885,000 | 981,244 |
| Hanger | ||
| Orthopedic Group, Inc., Company Guaranteed Global Notes (Callable 02/15/06 @ | ||
| $105.19) 10.375%, 02/15/09 § | 500,000 | 502,500 |
| Magellan | ||
| Health Services, Inc., Series A, Senior Notes (Callable 11/15/05 @ | ||
| $104.69) 9.375%, 11/15/08 | 717,276 | 776,451 |
| Medquest, Inc., | ||
| Series B, Global Company Guaranteed Notes (Callable 08/15/07 @ $105.94) 11.875%, | ||
| 08/15/12 | 1,000,000 | 1,175,000 |
| MQ | ||
| Associates, Inc.,Global Senior Discount Notes (Callable 8/15/08 @ $109.00) | ||
| 0.000%, 08/15/08 + | 1,500,000 | 1,162,500 |
| Select | ||
| Medical Corp., Global Senior Subordinated Notes (Callable 08/01/08 @ $103.75) | ||
| 7.500%, 08/01/13 | 900,000 | 1,026,000 |
| Tenet | ||
| Healthcare Corp., Rule 144A, Senior Notes 9.250%, 02/01/15 | 500,000 | 502,500 |
| Tenet | ||
| Healthcare Corp., Rule 144A, Senior Notes 9.875%, 07/01/14 § | 750,000 | 781,875 |
| Triad | ||
| Hospitals, Inc., Senior Notes (Callable 5/15/08 @ $103.50) 7.000%, 05/15/12 | 1,800,000 | 1,892,250 |
| Triad | ||
| Hospitals, Inc., Senior Subordinated Notes (Callable 11/15/08 @ $103.50) 7.000%, 11/15/13 § | 1,000,000 | 1,017,500 |
| Universal | ||
| Hospital Services, Inc., Global Senior Notes (Callable 11/01/07 @ $105.06) 10.125%, 11/01/11 | 750,000 | 780,000 |
| Vanguard | ||
| Health Holding Co., Rule 144A, Senior Subordinated Notes (Callable 10/01/09 @ $104.50) 9.000%, 10/01/14 | 1,000,000 | 1,075,000 |
| 16,169,820 | ||
| HOME | ||
| BUILDERS2.0% | ||
| KB Home, | ||
| Senior Subordinated Notes 8.625%, 12/15/08 | 650,000 | 737,341 |
| KB Home, | ||
| Senior Subordinated Notes (Callable 02/15/06 @ $104.75) 9.500%, 02/15/11 § | 1,000,000 | 1,106,333 |
| Toll Corp., | ||
| Senior Subordinated Notes (Callable 12/01/06 @ $104.12) 8.250%, 12/01/11 | 700,000 | 775,250 |
| WCI | ||
| Communities, Inc., Global Company Guaranteed Notes (Callable 05/01/07 @ $104.56) 9.125%, 05/01/12 | 1,000,000 | 1,117,500 |
| William Lyon | ||
| Homes, Inc., Company Guaranteed Notes (Callable 04/01/08 @ $105.38) 10.750%, 04/01/13 | 1,000,000 | 1,127,500 |
| 4,863,924 | ||
| INDUSTRIAL1.4% | ||
| Altra | ||
| Industrial Motion, Inc., Rule 144A, Secured Notes (Callable 12/01/08 @ $104.50) 9.000%, 12/01/11 | 1,000,000 | 1,010,000 |
| Amsted | ||
| Industries, Inc., Rule 144A, Senior Notes (Callable 10/15/07 @ $105.12) 10.250%, 10/15/11 | 1,000,000 | 1,130,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Amtrol, Inc., | ||
| Senior Subordinated Notes 10.625%, 12/31/06 § | 450,000 | 400,500 |
| Polypore, Inc., | ||
| Global Senior Subordinated Notes (Callable 05/15/08 @ $104.38) 8.750%, 05/15/12 | 1,000,000 | 1,032,500 |
| 3,573,000 | ||
| LEISURE3.4% | ||
| AMC | ||
| Entertainment, Inc., Global Senior Subordinated Notes (Callable 3/01/09 @ $104.00) 8.000%, 03/01/14 § | 2,000,000 | 1,992,500 |
| Bally Total | ||
| Fitness Holding Corp., Global Senior Notes (Callable 7/15/07 | ||
| @ $105.25) 10.500%, 07/15/11 | 250,000 | 251,250 |
| Bluegreen | ||
| Corp., Series B, Company Guaranteed Notes (Callable 04/01/05 @ $101.75) 10.500%, 04/01/08 | 1,125,000 | 1,150,312 |
| Booth Creek | ||
| Ski Holdings, Inc., Series B, Company Guaranteed Notes (Callable 03/15/05 @ $100.00) 12.500%, 03/15/07 | 1,300,000 | 1,319,500 |
| Cinemark, Inc., | ||
| Senior Discount Notes (Callable 03/15/09 @ $104.88) 0.000%, | ||
| 03/15/09 + | 1,150,000 | 874,000 |
| Icon | ||
| Health & Fitness, Inc., Global Company Guaranteed Notes (Callable 04/01/07 @ $105.62) 11.250%, 04/01/12 | 1,000,000 | 840,000 |
| Six | ||
| Flags, Inc., Global Senior Notes (Callable 02/01/06 @ $104.44) 8.875%, 02/01/10 § | 950,000 | 909,625 |
| Six | ||
| Flags, Inc., Global Senior Notes (Callable 06/01/09 @ $104.81) 9.625%, 06/01/14 § | 550,000 | 521,125 |
| Six | ||
| Flags, Inc., Rule 144A, Senior Notes (Callable 06/01/09 @ $104.81) 9.625%, 06/01/14 | 500,000 | 473,750 |
| 8,332,062 | ||
| LODGING0.6% | ||
| Host | ||
| Marriott LP, Global Senior Notes (Callable 11/1/08 @ $103.56) 7.125%, 11/01/13 | 500,000 | 528,750 |
| John Q. | ||
| Hammons Hotels, Series B, Global Notes, First Mortgage (Callable 05/15/07 @ $104.44) 8.875%, 05/15/12 | 890,000 | 1,005,700 |
| 1,534,450 | ||
| METALS & | ||
| MINING3.3% | ||
| AK Steel | ||
| Corp., Global Company Guaranteed Notes (Callable 06/15/07 @ $103.88) 7.750%, 06/15/12 | 1,000,000 | 1,032,500 |
| Alpha | ||
| Natural Resources LLC,, Rule 144A, Senior Notes (Callable 06/01/08 @ $105.00) 10.000%, 06/01/12 | 1,600,000 | 1,824,000 |
| Edgen | ||
| Acquisition Corp., Rule 144A, Secured Notes (Callable 02/01/08 @ $104.94) 9.875%, 02/01/11 | 1,000,000 | 1,015,000 |
| Imco | ||
| Recycling Escrow, Inc., Rule 144A, Senior Notes (Callable 11/15/09 @ $104.50) 9.000%, 11/15/14 | 1,000,000 | 1,042,500 |
| Metallurg, Inc., | ||
| Series B, Company Guaranteed Notes (Callable 12/1/05 @$100.00) 11.000%, | ||
| 12/01/07 | 700,000 | 644,000 |
| UCAR | ||
| Finance, Inc., Global Company Guaranteed Notes (Callable 02/15/07 @ $105.12) 10.250%, 02/15/12 § | 1,000,000 | 1,123,750 |
| WCI | ||
| Steel, Inc., Series B, Senior Secured Notes 10.000%, 12/01/49 Ø | 750,000 | 603,750 |
| Wise Metals | ||
| Group LLC, Global Secured Notes (Callable 5/15/08 @ $105.13) 10.250%, 05/15/12 | 1,000,000 | 1,020,000 |
| 8,305,500 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| PAPER & | ||
| FOREST PRODUCTS4.1% | ||
| Appleton | ||
| Papers, Inc., Series B, Senior Subordinated Notes (Callable 06/15/09 @ $104.88) 9.750%, 06/15/14 | 1,000,000 | 1,080,000 |
| Caraustar | ||
| Industries, Inc., Global Company Guaranteed Notes (Callable | ||
| 04/01/06 @ $105.25) 9.875%, 04/01/11 | 1,000,000 | 1,102,500 |
| Cellu Tissue | ||
| Holdings, Secured Notes (Callable 03/15/07 @ $107.31) 9.750%, | ||
| 03/15/10 | 1,000,000 | 1,057,500 |
| Georgia-Pacific | ||
| Corp., Global Company Guaranteed Notes 8.875%, | ||
| 02/01/10 | 1,200,000 | 1,395,000 |
| Georgia-Pacific | ||
| Corp., Global Company Guaranteed Notes (Callable 02/01/08@ $104.69) 9.375%, | ||
| 02/01/13 | 1,300,000 | 1,503,125 |
| Georgia-Pacific | ||
| Corp., Global Senior Notes 8.000%, 01/15/24 | 750,000 | 883,125 |
| Newark | ||
| Group, Inc., Global Senior Subordinated Notes (Callable | ||
| 3/15/09 @ $104.88) 9.750%, 03/15/14 | 2,000,000 | 2,105,000 |
| Riverside | ||
| Forest Products, Global Senior Notes (Callable 03/01/09@ $103.94) 7.875%, | ||
| 03/01/14 | 1,000,000 | 1,110,000 |
| 10,236,250 | ||
| PUBLISHING6.4% | ||
| CBD Media | ||
| Holdings, Rule 144A, Senior Notes (Callable 07/15/08 @ $104.63) 9.250%, 07/15/12 § | 1,250,000 | 1,287,500 |
| Dex Media | ||
| West LLC, Rule 144A, Senior Notes (Callable 11/15/08 @ $102.94) 5.875%, 11/15/11 | 800,000 | 786,000 |
| Dex | ||
| Media, Inc., Global Discount Notes (Callable 11/15/08 @ $104.50) 0.000%, 11/15/08 + | 1,500,000 | 1,136,250 |
| Dex | ||
| Media, Inc., Global Discount Notes (Callable 11/15/08 @ $104.50) 0.000%, 11/15/08 +§ | 500,000 | 378,750 |
| Dex | ||
| Media, Inc., Global Notes (Callable 11/15/08 @ $104.00) 8.000%, 11/15/13 § | 400,000 | 427,000 |
| Haights | ||
| Cross Operating Co., Global Company Guaranteed Notes (Callable 08/15/08 @ $105.88) 11.750%, 08/15/11 | 1,200,000 | 1,366,500 |
| Houghton | ||
| Mifflin Co., Global Senior Discount Notes (Callable 10/15/08 @ $105.75) 0.000%, 10/15/08 +§ | 1,000,000 | 685,000 |
| Houghton | ||
| Mifflin Co., Global Senior Notes (Callable 02/01/07 @ $104.12) 8.250%, 02/01/11 | 350,000 | 367,500 |
| Liberty | ||
| Group Operating, Inc., Company Guaranteed Notes (Callable 02/01/06 @ $100) 9.375%, 02/01/08 | 2,700,000 | 2,754,000 |
| Liberty | ||
| Group Publishing, Inc., Debentures (Callable 02/01/06 @ $100) 11.625%, 02/01/09 + | 1,774,000 | 1,802,827 |
| Morris | ||
| Publishing Group LLC, Global Company Guranteed Notes (Callable 08/01/08 @ $103.50) 7.000%, 08/01/13 | 500,000 | 511,250 |
| Phoenix | ||
| Color Corp., Company Guaranteed Notes (Callable 02/01/06 @ $101.729) 10.375%, 02/01/09 | 2,222,000 | 2,099,790 |
| Primedia, Inc., | ||
| Global Senior Notes (Callable 05/15/08 @ $104.00) 8.000%, | ||
| 05/15/13 | 500,000 | 515,000 |
| Sheridan | ||
| Acquisition Corp, Global Secured Notes (Callable 8/15/07 @$105.12) 10.250%, | ||
| 08/15/11 | 1,000,000 | 1,086,250 |
| WDAC | ||
| Subsidiary Corp., Rule 144A, Senior Notes (Callable 12/01/09 @ $104.19) 8.375%, 12/01/14 § | 800,000 | 784,000 |
| 15,987,617 | ||
| RESTAURANTS2.0% | ||
| Buffets, Inc., | ||
| Global Senior Subordinated Notes (Callable 07/15/06 @ $105.62) 11.250%, 07/15/10 | 850,000 | 911,625 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Dennys | ||
| Corp., Rule 144A, Senior Notes (Callable 10/01/08 @ $105.00) 10.000%, 10/01/12 | 1,350,000 | 1,458,000 |
| El Pollo | ||
| Loco, Inc., Global Secured Notes (Callable 12/15/06 @ $104.63) 9.250%, 12/15/09 | 750,000 | 776,250 |
| OCharleys, Inc., | ||
| Global Senior Subordinated Notes (Callable 11/01/08 @ $104.50) 9.000%, 11/01/13 § | 1,000,000 | 1,095,000 |
| Romacorp, Inc., | ||
| Senior Notes 10.500%, | ||
| 12/31/08 ^ | 1,007,088 | 659,643 |
| 4,900,518 | ||
| RETAIL-FOOD & | ||
| DRUG3.3% | ||
| Duane | ||
| Reade, Inc., Rule 144A, Senior Subordinated Notes (Callable 08/01/08 @ $104.88) 9.750%, 08/01/11 § | 1,750,000 | 1,592,500 |
| General | ||
| Nutrition Center, Rule 144A, Senior Notes (Callable 01/15/08 @ $104.31) 8.625%, 01/15/11 | 600,000 | 603,000 |
| Great | ||
| Atlantic & Pacific Tea Co., Inc., Senior Notes (Callable 12/15/06 @ $104.56) 9.125%, 12/15/11 § | 1,250,000 | 1,140,625 |
| Gregg | ||
| Appliances, Inc., Rule 144A, Senior Notes (Callable 02/01/09 @104.50) 9.000%, 02/01/13 | 1,000,000 | 1,000,000 |
| Nutritional | ||
| Sourcing Corp., Notes (Callable 06/05/05 @ $101.00) 10.125%, | ||
| 08/01/09 + | 500,000 | 367,500 |
| Pathmark | ||
| Stores, Inc., Global Company Guaranteed Notes (Callable 02/01/07 @ $104.38) 8.750%, 02/01/12 § | 1,000,000 | 961,250 |
| Rite Aid | ||
| Corp., Rule 144A, Secured Notes (Callable 01/15/10 @ $103.75) 7.500%, 01/15/15 | 1,000,000 | 990,000 |
| Roundys, Inc., | ||
| Series B, Global Company Guaranteed Notes (Callable 06/15/07 @ $104.44) 8.875%, 06/15/12 § | 500,000 | 542,500 |
| Stater | ||
| Brothers Holdings, Inc., Global Senior Notes (Callable 06/15/08 @ $104.06) 8.125%, 06/15/12 § | 450,000 | 475,875 |
| Winn-Dixie | ||
| Stores, Inc., Company Guaranteed Notes (Callable 04/01/05 @ $104.44) 8.875%, 04/01/08 § | 450,000 | 411,750 |
| 8,085,000 | ||
| RETAIL | ||
| STORES2.4% | ||
| Asbury | ||
| Automotive Group Inc., Global Company Guaranteed Notes (Callable 06/15/07 @ $104.50) 9.000%, 06/15/12 § | 700,000 | 743,750 |
| CSK | ||
| Auto, Inc., Global Company Guaranteed Notes (Callable 01/15/09 @ $103.50) 7.000%, 01/15/14 | 550,000 | 538,313 |
| Michaels | ||
| Stores, Inc., Senior Notes (Callable 07/01/05 @ $104.62) 9.250%, 07/01/09 | 900,000 | 961,875 |
| Nebraska | ||
| Book Company, Inc., Global Senior Subordinated Notes (Callable | ||
| 03/15/08 @ $104.31) 8.625%, 03/15/12 | 500,000 | 510,000 |
| Pep Boys | ||
| Manny, Moe & Jack, Series MTNB, Notes 6.920%, 07/07/06 | 900,000 | 931,500 |
| Southern | ||
| States Cooperative, Inc., Rule 144A, Senior Notes (Callable 11/01/07 @ $108.00) 10.500%, 11/01/10 | 1,350,000 | 1,410,750 |
| United Auto | ||
| Group, Inc., Global Company Guaranteed Notes (Callable 03/15/07 @ $104.81) 9.625%, 03/15/12 | 750,000 | 821,250 |
| 5,917,438 | ||
| SATELLITE0.8% | ||
| EchoStar DBS | ||
| Corp., Rule 144A, Company Guaranteed Notes 6.625%, 10/01/14 § | 1,000,000 | 1,015,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| PanAmSat | ||
| Corp., Rule 144A, | ||
| Company Guaranteed Senior Notes | ||
| (Callable 08/15/09 @ $104.50) 9.000%, 08/15/14 § | 1,000,000 | 1,092,500 |
| 2,107,500 | ||
| SECONDARY | ||
| OIL & GAS PRODUCERS1.3% | ||
| Chesapeake | ||
| Energy Corp., Global | ||
| Senior Notes (Callable 08/15/09 | ||
| @ $103.50) 7.000%, 08/15/14 § | 1,000,000 | 1,065,000 |
| Chesapeake | ||
| Energy Corp., Senior | ||
| Notes (Callable 01/15/09 @ | ||
| $103.44) 6.875%, 01/15/16 | 1,093,000 | 1,142,185 |
| Magnum | ||
| Hunter Resources, Inc., Global Company Guaranteed | ||
| Notes (Callable 03/15/07 @ $104.80) 9.600%, 03/15/12 | 423,000 | 485,393 |
| Whiting | ||
| Petroleum Corp., Global | ||
| Senior Subordinated Notes (Callable 05/01/08 @ $103.63) 7.250%, 05/01/12 | 600,000 | 622,500 |
| 3,315,078 | ||
| SERVICES8.7% | ||
| Advanstar | ||
| Communications, Inc, | ||
| Global Secured Note (Callable | ||
| 02/15/08 @ $105.38) 10.750%, 08/15/10 | 1,500,000 | 1,695,000 |
| Allied | ||
| Security Escrow Corp., | ||
| Rule 144A, Senior Subordinated | ||
| Notes (Callable 07/15/08 @ $105.69) 11.375%, 07/15/11 | 1,250,000 | 1,315,625 |
| American | ||
| Color Graphics, Global | ||
| Notes (Callable 06/15/07 @ | ||
| $105.00) 10.000%, 06/15/10 | 1,200,000 | 1,029,000 |
| Diamond | ||
| Triumph Auto Glass, Inc., | ||
| Company Guaranteed Notes (Callable 04/01/05 @ $101.54) 9.250%, 04/01/08 | 400,000 | 338,000 |
| Equinox | ||
| Holdings, Inc., Senior Notes (Callable 12/15/06 | ||
| @ $104.50) 9.000%, 12/15/09 § | 450,000 | 479,250 |
| Great Lakes | ||
| Dredge & Dock Corp., Global Senior Subordinated Notes (Callable | ||
| 12/15/08 @ $103.88) 7.750%, 12/15/13 | 1,250,000 | 1,093,750 |
| Integrated | ||
| Alarm Services Group, Inc., Rule 144A, Secured Notes (Callable 11/15/08 | ||
| @ $106.00) 12.000%, 11/15/11 | 1,000,000 | 1,047,500 |
| Iron | ||
| Mountain, Inc., Company Guaranteed Notes (Callable 04/01/06 @ $104.31) 8.625%, | ||
| 04/01/13 | 1,000,000 | 1,062,500 |
| La Petite | ||
| Academy, Inc., Series B, Company Guaranteed Notes (Callable | ||
| 05/15/05 @ $101.67) 10.000%, 05/15/08 | 1,650,000 | 1,476,750 |
| Language | ||
| Line, Inc., Global Senior Subordinated Notes (Callable 06/15/08 @ 105.56) | ||
| 11.125%, 06/15/12 | 750,000 | 798,750 |
| Mortons | ||
| Restaurant Group, Inc., Global Secured Notes (Callable 07/01/07 @ $105.30) 7.500%, | ||
| 07/01/10 § | 1,000,000 | 980,000 |
| Muzak | ||
| LLC/Muzak Finance Corp., Company Guaranteed Notes (Callable 03/15/05 @ | ||
| $103.29) 9.875%, 03/15/09 § | 450,000 | 320,625 |
| Muzak | ||
| LLC/Muzak Finance Corp., Global Senior Notes (Callable 02/15/06 @ $105.00) 10.000%, | ||
| 02/15/09 | 1,000,000 | 942,500 |
| National | ||
| Beef Packing Company LLC, Global Senior Notes (Callable 08/01/07 @ $105.25) 10.500%, | ||
| 08/01/11 | 1,000,000 | 1,027,500 |
| Neff Corp., | ||
| Company Guaranteed Notes (Callable 06/01/05 @ $101.71) 10.250%, 06/01/08 | 2,000,000 | 1,930,000 |
| Rent-ACenter, Inc., | ||
| Series B, Global Company Guaranteed Notes (Callable 05/01/06 @ $103.75 7.500%, | ||
| 05/01/10 | 500,000 | 518,125 |
| Salton, Inc., | ||
| Global Senior Subordinated Notes (Callable 04/15/05 @ $106.12) 12.250%, 04/15/08 § | 1,500,000 | 1,132,500 |
| United Rentals | ||
| North America, Inc., Global Senior Subordinated Notes (Callable 02/15/09 @ 103.50) 7.750%, 11/15/13 § | 2,000,000 | 1,955,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| United | ||
| Rentals North America, Inc., | ||
| Global Senior Subordinated | ||
| Notes (Callable 02/15/09 @ $103.50) 7.000%, 02/15/14 § | 1,000,000 | 935,000 |
| Wesco | ||
| Distribution, Inc., Global Company GuaranteedNotes (Callable 06/01/05 @ | ||
| $101.52) 9.125%, 06/01/08 | 550,000 | 566,500 |
| WMG Holdings | ||
| Corp., Rule 144A, | ||
| Senior Discount Notes (Callable | ||
| 12/15/09 @ $104.75) 0.000%, 12/15/09 + | 1,500,000 | 1,008,750 |
| 21,652,625 | ||
| TECHNOLOGY4.0% | ||
| Advanced | ||
| Micro Devices, Inc., | ||
| Rule 144A, Senior Notes | ||
| (Callable 11/1/08 @ $103.88) 7.750%, 11/01/12 | 1,000,000 | 1,002,500 |
| AMI | ||
| Semiconductor, Inc., Global Company GuaranteedNotes (Callable 02/01/08 @ | ||
| $105.37) 10.750%, 02/01/13 | 200,000 | 234,000 |
| Amkor | ||
| Technology, Inc., Global Senior Notes (Callable | ||
| 05/15/08 @ $103.88) 7.750%, 05/15/13 § | 1,400,000 | 1,253,000 |
| Ampex Corp., | ||
| Secured Notes 12.000%, 08/15/08 ^ | 475,129 | 475,129 |
| Celestica, Inc., | ||
| Senior Subordinated | ||
| Notes (Callable 07/01/08 @ $103.94) 7.875%, 07/01/11 § | 250,000 | 261,875 |
| Danka | ||
| Business Systems, Senior Notes (Callable 06/15/07 | ||
| @ $105.50) 11.000%, 06/15/10 | 750,000 | 791,250 |
| Itron, Inc., | ||
| Rule 144A, Senior | ||
| Subordinated Notes (Callable | ||
| 05/15/08 @ $103.88) 7.750%, 05/15/12 § | 1,000,000 | 1,007,500 |
| Lucent | ||
| Technologies, Inc., | ||
| Notes 7.250%, 07/15/06 § | 950,000 | 992,750 |
| Lucent | ||
| Technologies, Inc., | ||
| Notes 5.500%, 11/15/08 § | 800,000 | 816,000 |
| Sanmina-SCI | ||
| Corp., Global Company | ||
| Guaranteed Notes (Callable | ||
| 01/15/07 @ $105.19) 10.375%, 01/15/10 | 1,000,000 | 1,140,000 |
| Viasystems, Inc., | ||
| Global Senior | ||
| Subordinated Notes (Callable | ||
| 01/15/08 @ $105.25) 10.500%, 01/15/11 | 1,000,000 | 990,000 |
| Xerox Corp., | ||
| Senior Notes (Callable | ||
| 06/15/08 @ $103.81) 7.625%, 06/15/13 § | 1,000,000 | 1,082,500 |
| 10,046,504 | ||
| TEXTILE/APPAREL/SHOE | ||
| MANUFACTURING2.7% | ||
| BGF | ||
| Industries, Inc., Series B, Senior Subordinated | ||
| Notes (Callable 01/15/06 @ $101.75) 10.250%, 01/15/09 | 2,797,000 | 2,783,015 |
| Levi | ||
| Strauss & Co., Global Senior Notes (Callable | ||
| 01/15/06 @ $102.91) 11.625%, 01/15/08 § | 550,000 | 578,875 |
| Levi | ||
| Strauss & Co., Global Senior Notes (Callable | ||
| 12/15/07 @ $106.12) 12.250%, 12/15/12 § | 1,200,000 | 1,302,000 |
| Levi | ||
| Strauss & Co., Rule 144A, Senior Notes (Callable | ||
| 01/15/10 @ $104.88) 9.750%, 01/15/15 | 1,000,000 | 977,500 |
| Propex | ||
| Fabrics, Inc., Rule 144A, Senior Notes (Callable | ||
| 12/01/08 @ $105.00) 10.000%, 12/01/12 | 1,000,000 | 1,017,500 |
| 6,658,890 | ||
| TOWER0.9% | ||
| American | ||
| Tower Corp., Rule 144A, | ||
| Senior Notes (Callable 10/15/08 | ||
| @ $103.56) 7.125%, 10/15/12 | 500,000 | 505,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| American | ||
| Towers, Inc., Company Guaranteed Global Notes | ||
| (Callable 12/01/07 @ $103.62) 7.250%, 12/01/11 | 500,000 | 525,000 |
| SBA | ||
| Communications Corp., Rule 144A, Senior Notes (Callable 12/01/08 @ $104.25) 8.500%, 12/01/12 | 500,000 | 523,125 |
| SBA | ||
| Telecommunications, Inc., Global Senior Discount | ||
| Notes (Callable 12/15/07 @ | ||
| $104.88) 0.000%, 12/15/07 + | 850,000 | 736,313 |
| 2,289,438 | ||
| TRANSPORTATION0.3% | ||
| H-Lines | ||
| Finance Holding Corp., | ||
| Rule 144A, Senior Discount | ||
| Notes (Callable 4/01/08 @ | ||
| $105.50) 0.000%, 04/01/08 + | 1,000,000 | 715,000 |
| UTILITIES6.4% | ||
| AES Corp., | ||
| Rule 144A, Secured | ||
| Notes (Callable 05/15/08 @ | ||
| $104.50) 9.000%, 05/15/15 | 1,000,000 | 1,135,000 |
| Allegheny | ||
| Energy Supply Company | ||
| LLC, Global Notes 7.800%, | ||
| 03/15/11 § | 1,000,000 | 1,087,500 |
| Aquila, Inc., | ||
| Senior Notes 7.625%, 11/15/09 | 1,100,000 | 1,142,625 |
| Calpine | ||
| Corp., Rule 144A, Secured Notes (Callable07/15/08 @ $104.38) 8.750%, | ||
| 07/15/13 § | 2,250,000 | 1,721,250 |
| Calpine | ||
| Corp., Senior Notes 8.500%, 02/15/11 § | 1,000,000 | 695,000 |
| Calpine | ||
| Generating Company | ||
| LLC, Global Secured Notes | ||
| (Callable 4/01/08 @ $103.50) 8.310%, 04/01/05 # | 2,500,000 | 2,437,500 |
| CMS Energy | ||
| Corp., Global Senior | ||
| Notes 8.900%, 07/15/08 | 1,000,000 | 1,101,250 |
| CMS Energy | ||
| Corp., Global Senior | ||
| Notes 7.750%, 08/01/10 | 1,000,000 | 1,083,750 |
| Edison | ||
| Mission Energy, Global | ||
| Senior Notes 10.000%, 08/15/08 | 350,000 | 406,000 |
| Edison | ||
| Mission Energy, Global | ||
| Senior Notes 7.730%, 06/15/09 § | 1,300,000 | 1,384,500 |
| Midwest | ||
| Generation LLC, Global | ||
| Secured Notes (Callable | ||
| 05/01/09 @ $104.38) 8.750%, 05/01/34 | 1,000,000 | 1,122,500 |
| Mirant | ||
| Corp., Rule 144A, Senior Notes 7.400%, | ||
| 07/15/49 Ø | 1,100,000 | 847,000 |
| NRG | ||
| Energy, Inc., Rule 144A, Secured Notes (Callable | ||
| 12/15/08 @ $104.00) 8.000%, 12/15/13 | 300,000 | 324,750 |
| Sierra | ||
| Pacific Resources, Global Senior Notes (Callable | ||
| 03/15/09 @ $104.31) 8.625%, 03/15/14 § | 500,000 | 558,125 |
| TNP | ||
| Enterprises, Inc., Series B, Senior Subordinated | ||
| Notes (Callable 04/01/05 @ $105.12) 10.250%, 04/01/10 | 850,000 | 901,000 |
| 15,947,750 | ||
| WIRELESS7.5% | ||
| Airgate | ||
| PCS, Inc., Rule 144A, Secured Notes (Callable | ||
| 01/01/06 @ $104.69) 9.375%, 09/01/09 § | 449,900 | 483,642 |
| AirGate | ||
| PCS, Inc., Secured | ||
| Note (Callable 01/01/06 @ | ||
| $104.69) 9.375%, 09/01/09 | 600,000 | 645,000 |
| Alamosa | ||
| Delaware, Inc., Global Senior Notes (Callable | ||
| 01/31/08 @ $104.25) 8.500%, 01/31/12 | 1,250,000 | 1,337,500 |
| Alamosa | ||
| Holdings, Inc., Company Guaranteed Notes(Callable 02/15/06 @ $104.29) 0.000%, 02/15/05 + | 1,300,000 | 1,407,250 |
| American | ||
| Cellular Corp., Series B, | ||
| Global Senior Notes (Callable | ||
| 08/01/07 @ $105.00) 10.000%, 08/01/11 § | 1,100,000 | 1,020,250 |
| Centennial | ||
| Communications Corp., | ||
| Global Company Guaranteed Notes (Callable 06/15/08 @ $105.06) 10.125%, 06/15/13 | 650,000 | 739,375 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| Centennial | ||
| Communications Corp., | ||
| Global Senior Notes (Callable | ||
| 02/01/09 @ $104.06) 8.125%, 02/01/14 # | 1,950,000 | 2,071,875 |
| Dobson | ||
| Communications Corp., | ||
| Global Senior Notes (Callable | ||
| 10/01/08 @ $104.44) 8.875%, 10/01/13 § | 1,250,000 | 928,125 |
| Horizon | ||
| PCS, Inc., Rule 144A, Senior Notes (Callable | ||
| 07/15/08 @ $105.69) 11.375%, 07/15/12 | 750,000 | 851,250 |
| IPCS, Inc., | ||
| Global Senior Notes | ||
| (Callable 05/01/08 @ $105.75) 11.500%, 05/01/12 | 850,000 | 975,375 |
| Nextel | ||
| Communications, Inc., | ||
| Senior Notes (Callable 08/01/08 | ||
| @ $103.69) 7.375%, 08/01/15 | 250,000 | 276,875 |
| Nextel | ||
| Partners, Inc., Global Senior Notes (Callable | ||
| 07/01/07 @ $104.06) 8.125%, 07/01/11 § | 1,100,000 | 1,215,500 |
| Rural | ||
| Cellular Corp., Global | ||
| Senior Subordinated Notes (Callable 01/15/06 @ $104.88) 9.750%, 01/15/10 § | 1,250,000 | 1,212,500 |
| Triton | ||
| PCS, Inc., Global Company Guaranteed Notes(Callable 06/01/08 @ $104.25) 8.500%, 06/01/13 § | 2,000,000 | 1,935,000 |
| Ubiquitel | ||
| Operating Co., Global | ||
| Senior Notes (Callable 03/01/07 | ||
| @ $107.41) 9.875%, 03/01/11 | 1,000,000 | 1,107,500 |
| Ubiquitel | ||
| Operating Co., Rule 144A, | ||
| Senior Notes (Callable 03/01/07 | ||
| @ $107.41) 9.875%, 03/01/11 § | 1,150,000 | 1,273,625 |
| Western | ||
| Wireless Corp., Global | ||
| Senior Notes (Callable 07/15/08 | ||
| @ $104.62) 9.250%, 07/15/13 § | 1,000,000 | 1,170,000 |
| 18,650,642 | ||
| TOTAL | ||
| U.S. CORPORATE BONDS (Cost $317,028,795) | 329,639,230 | |
| FOREIGN | ||
| CORPORATE BONDS9.7% | ||
| AUTOMOBILE | ||
| MANUFACTURING/VEHICLE PARTS0.3% | ||
| Bombardier | ||
| Recreational Products, | ||
| Global Senior Subordinated | ||
| Notes (Callable 12/15/08 @ $104.19) (Canada) 8.375%, 12/15/13 § | 800,000 | 850,000 |
| BROADBAND0.7% | ||
| Call-Net | ||
| Enterprises, Inc., | ||
| Yankee Company Guaranteed Notes (Callable 01/01/06 @ $105.31) (Canada) 10.625%, 12/31/08 | 1,000,000 | 1,010,000 |
| Global | ||
| Crossing Finance, Rule 144A, Company Guarnteed | ||
| Global Notes (Callable 12/15/06 | ||
| @ 105.38) (United Kingdom) 10.750%, 12/15/14 | 650,000 | 645,125 |
| 1,655,125 | ||
| CABLE0.4% | ||
| Telenet | ||
| Group Holding NV, Rule 144A, Senior Notes (Callable | ||
| 12/15/08 @ $105.75) (Belgium) (0.000)%, 12/15/08 + | 1,350,000 | 1,032,750 |
| CHEMICALS1.5% | ||
| Acetex | ||
| Corp., Global Senior | ||
| Notes (Callable 08/01/05 @ | ||
| $105.44) (Canada) 10.875%, 08/01/09 | 1,000,000 | 1,087,500 |
| BCP Caylux | ||
| Holdings Luxembourg | ||
| SCA, Rule 144A, Senior | ||
| Subordinated Notes (Callable | ||
| 06/15/09 @ $104.81) | ||
| (Luxembourg) 9.625%, 06/15/14 | 1,000,000 | 1,115,000 |
| Rhodia SA, | ||
| Global Senior Notes | ||
| (France) 10.250%, 06/01/10 | 1,250,000 | 1,428,125 |
| 3,630,625 | ||
| CONTAINERS0.6% | ||
| Crown | ||
| European Holdings SA, Global Secured Notes (Callable | ||
| 03/01/07 @ $104.75) (France) 9.500%, 03/01/11 | 1,250,000 | 1,400,000 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| GAMING0.3% | ||
| Kerzner | ||
| International, Ltd., | ||
| Global Company Guaranteed Notes (Callable 08/15/06 @ $104.44) (Bahamas) 8.875%, 08/15/11 | 750,000 | 821,250 |
| INDUSTRIAL0.1% | ||
| International | ||
| Utility Structures, Inc., | ||
| Yankee Senior Subordinated | ||
| Notes (Callable 02/01/06 @ $100) (Canada) 10.750%, 02/01/08 Ø | 1,020,500 | 216,856 |
| LEISURE0.4% | ||
| NCL | ||
| Corporation Ltd., Rule 144A, Senior Notes (Callable | ||
| 07/15/09 @ $105.31) (Bermuda) 10.625%, 07/15/14 | 1,000,000 | 1,010,000 |
| METALS & | ||
| MINING0.8% | ||
| Gerdau | ||
| Ameristeel Corp., Global Senior Notes (Callable | ||
| 07/15/07 @ $105.38) (Canada) 10.375%, 07/15/11 | 1,000,000 | 1,160,000 |
| Ispat Inland | ||
| ULC, Global Secured | ||
| Notes (Callable 4/01/09 @ | ||
| $104.88) (Canada) 9.750%, 04/01/14 | 650,000 | 804,375 |
| 1,964,375 | ||
| PAPER & | ||
| FOREST PRODUCTS1.5% | ||
| Abitibi | ||
| Consolidated, Inc., | ||
| Global Notes (Canada) 7.750%, 06/15/11 | 600,000 | 624,000 |
| JSG Funding | ||
| PLC, Global Senior | ||
| Notes (Callable 10/01/07 @ | ||
| $104.81) (Ireland) 9.625%, 10/01/12 | 750,000 | 832,500 |
| JSG Funding | ||
| PLC, Rule 144A, | ||
| Senior Subordinated Notes | ||
| (Callable 01/31/10 @ $103.88) | ||
| (Ireland) 7.750%, 04/01/15 | 1,000,000 | 990,000 |
| Tembec | ||
| Industries, Inc., Yankee Company GuaranteedNotes (Callable 06/30/05 @ | ||
| $102.88) (Canada) 8.625%, | ||
| 06/30/09 § | 1,200,000 | 1,198,500 |
| 3,645,000 | ||
| RETAIL-FOOD & | ||
| DRUG0.4% | ||
| Jean Coutu | ||
| Group (PJC), Inc., | ||
| Rule 144A, Senior Subordinated | ||
| Notes (Callable 08/01/09 @ $104.25) (Canada) 8.500%, 08/01/14 | 1,000,000 | 1,002,500 |
| SATELLITE1.0% | ||
| Intelsat | ||
| Bermuda, Ltd., Rule 144A, | ||
| Senior Notes (Callable 07/15/05 | ||
| $102.00) (Bermuda) 7.794%, | ||
| 07/15/05 # | 1,000,000 | 1,035,000 |
| New Asat | ||
| Finance, Ltd., Rule 144A, | ||
| Senior Notes (Callable 02/01/08 | ||
| @ $104.62) (Cayman Island) 9.250%, 02/01/11 | 1,700,000 | 1,436,500 |
| 2,471,500 | ||
| TECHNOLOGY0.4% | ||
| Flextronics International, Ltd., Rule 144A, Senior Subordinated Notes (Callable 11/15/09 @ $103.13) (Singapore) 6.250%, 11/15/14 | 1,000,000 | 985,000 |
| TRANSPORTATION0.8% | ||
| Sea | ||
| Containers, Ltd., Series B, Yankee Senior Notes | ||
| (Callable 03/28/05 @ $100.00) | ||
| (Bermuda) 7.875%, 02/15/08 | 445,000 | 446,669 |
| Ship Finance International Ltd., Global Senior Notes (Callable 12/15/08 @ $104.25) (Bermuda) 8.500%, 12/15/13 | 1,500,000 | 1,537,500 |
| 1,984,169 | ||
| WIRELESS0.5% | ||
| Millicom | ||
| International Cellular | ||
| SA, Rule 144A, Senior | ||
| Notes (Callable 12/01/08 @ | ||
| $105.00) (Luxembourg) 10.000%, 12/01/13 | 750,000 | 785,625 |
| Rogers | ||
| Wireless, Inc., Rule 144A, Secured Notes (Canada) 7.500%, | ||
| 03/15/15 | 500,000 | 538,750 |
| 1,324,375 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Principal Amount | Value | |
|---|---|---|
| TOTAL | ||
| FOREIGN CORPORATE BONDS (Cost $23,304,974) | 23,993,525 | |
| Shares | ||
| COMMON | ||
| STOCKS0.8% | ||
| AUTOMOBILE | ||
| MANUFACTURING/VEHICLE PARTS0.0% | ||
| Cambridge | ||
| Industries Liquidating | ||
| Trust * | 774,557 | 77,456 |
| DIVERSIFIED | ||
| TELECOMMUNICATIONS0.2% | ||
| Versatel | ||
| Telecom International | ||
| NV * | 233,772 | 618,609 |
| FOOD | ||
| PROCESSORS/BEVERAGE/BOTTLING0.5% | ||
| Archibald | ||
| Candy Corp. *^ | 1,291 | 0 |
| Crunch | ||
| Equity Holdings, Class A | ||
| * | 845 | 1,119,582 |
| 1,119,582 | ||
| WIRELESS0.1% | ||
| Dobson | ||
| Communications Corp., | ||
| Class A * | 99,764 | 183,566 |
| TOTAL | ||
| COMMON STOCKS (Cost | ||
| $2,914,557) | 1,999,213 | |
| PREFERRED | ||
| STOCK0.0% | ||
| WIRELESS0.0% | ||
| Dobson | ||
| Communications Corp., | ||
| Rule 144A (Cost | ||
| $265,050) | 1,550 | 108,026 |
| WARRANTS0.1% | ||
| BROADBAND0.0% | ||
| GT Group | ||
| Telecom, Inc., Rule 144A, strike $0.00 expires | ||
| 02/01/10* | 6,750 | 0 |
| Ono Finance | ||
| PLC, Subordinated | ||
| Debentures, expires 05/31/09 * | 5,980 | 60 |
| 60 | ||
| CHEMICALS0.1% | ||
| Huntsman | ||
| Company LLC, Rule 144A, | ||
| strike $0.01, expires 05/15/11 | ||
| * | 250 | 112,625 |
| DIVERSIFIED | ||
| TELECOMMUNICATIONS0.0% | ||
| Versatel | ||
| Telecom International | ||
| NV, strike $2.81 expires | ||
| 05/15/08*^ | 3,000 | 630 |
| GAMING0.0% | ||
| Windsor | ||
| Woodmont Black Hawk, | ||
| strike $0.01 expires 03/15/10*^ | 106 | 0 |
| RESTAURANTS0.0% | ||
| New World | ||
| Restaurant Group, Inc., | ||
| strike $13.00, expires | ||
| 06/20/06* | 336 | 3 |
| SATELLITE0.0% | ||
| Asat Finance | ||
| LLC, Rule 144A, | ||
| strike $18.60, expires 11/01/06, * | 5,000 | 625 |
| TECHNOLOGY0.0% | ||
| Viasystems, Inc., | ||
| expires 01/31/10 | ||
| *^ | 204,293 | 2,043 |
| TOTAL | ||
| WARRANTS (Cost $3,972,602) | 115,986 | |
| SHORT-TERM | ||
| INVESTMENTS12.1% | ||
| Dreyfus Cash | ||
| Management, Class A, | ||
| Institutional Shares, §§ | 15,000,000 | 15,000,000 |
| Dreyfus Cash | ||
| Management Plus, Inc., | ||
| Institutional Shares, §§ | 15,000,000 | 15,000,000 |
| 30,000,000 | ||
| TOTAL | ||
| SHORT-TERM INVESTMENTS (Cost $30,000,000) | 30,000,000 | |
| Principal Amount | ||
| REPURCHASE | ||
| AGREEMENTS30.7% | ||
| Bear | ||
| Stearns & Co., 1.88%, Dated 01/31/05, due | ||
| 02/01/05, proceeds at maturity | ||
| $1,985,632, (fully collaterized | ||
| by U.S. Treasury Strips, due 02/15/19. Market Value of collateral is $2,043,653) §§ | 1,985,529 | 1,985,529 |
| Bear | ||
| Stearns & Co., 2.45%, Dated 01/31/05, due 02/01/05, proceeds at maturity | ||
| $3,418,126, (fully collateralized by U.S. Treasury Notes, due 01/15/07. | ||
| Market Value of collateral is $3,517,338) §§ | 3,417,894 | 3,417,894 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
| Bear
Stearns & Co., 2.45%, Dated 01/31/05, due 02/01/05, proceeds at maturity $53,129, (fully collateralized by U.S. Treasury Strips, due 02/15/19. Market Value of collateral is
54,741) §§ | Principal Amount — 53,125 | Value — 53,125 | |
| --- | --- | --- | --- |
| Bear
Stearns & Co., 2.50%, Dated 01/31/05, due 02/01/05, proceeds at maturity $70,861,321, (fully collateralized by U.S. Treasury Strips, due 05/15/17 and U.S. Treasury Strips, due 02/15/19. Market Value of collateral is $72,912,999) §§ | 70,856,400 | 70,856,400 | |
| TOTAL
REPURCHASE AGREEMENTS (Cost $76,312,948) | | 76,312,948 | |
| TOTAL
INVESTMENTS186.1% (Cost $453,798,926) | | 462,168,928 | |
| LIABILITIES
IN EXCESS OF OTHER ASSETS(86.1)% | | (213,802,569 | ) |
| NET
ASSETS(100.0%) | | $ 248,366,359 | |
| | Security exempt from
registration under Rule 144A of the Securities Act of 1933. These
securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. At January 31, 2005, these securities
amounted to $89,946,858 or 36.22% of net assets. |
| --- | --- |
| + | Step Bond The interest
stated is as of January 31, 2005 and will reset at a future date. |
| Ø | Bond in default. |
| * | Non-income producing
security. |
| ^ | Not readily marketable;
security is valued at fair value as determined in good faith by, or under the
direction of, the Board of Trustees. |
| § | Security or portion
thereof is out on loan. |
| §§ | Represents security
purchased with cash collateral received for securities on loan. |
| # | Variable rate obligations
The interest rate shown is the rate as of January 31, 2005. |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
**Portfolio valuation:**** Fixed-income securities (other than short-term obligations, but including listed issues) are valued based on prices obtained by one or more independent pricing services approved by the Board of Trustees. Pricing services use a matrix, formula or other objective method that takes into consideration market indices, yield curves and other specific adjustments.
Securities (other than fixed-income securities) for which the principal market is one or more securities exchanges are valued at market value, which is generally determined using the closing price on the exchange or market on which the security is primarily traded. If a securities exchange is not the principal market for a security, such security will, if market quotations are readily available, be valued at the closing bid price in the over-the-counter market (or the last sale price in the case of securities reported on the NASDAQ national market system for which any sales occurred during the day). Securities and other assets for which market quotations are not readily available are valued at fair value as determined in good faith by, or under the direction of, the Board of Trustees under procedures established by the Board of Trustees. Debt obligations that will mature in 60 days or less are valued on the basis of amortized cost, which approximates market value, unless it is determined that using this method would not reflect an investments fair value.
Federal Income Tax Cost - At January 31, 2005, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized appreciation from investments were $452,298,926, $21,997,375, $(13,627,373), $8,370,002, respectively.
Other information regarding the Fund is available in the Funds most recent Report to Shareholders. This information is also available on the Funds website at http://www.csam.com/us as well as on the website of the Securities and Exchange Commission http://www.sec.gov.
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-bg.htm',USER='dsadagopan',CD='Mar 30 23:02 2005'
*Item 2: Controls and Procedures*
(a) As of a date within 90 days from the filing date of this report, the principal executive officer and principal financial officer concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the Act)), were effective based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities and Exchange Act of 1934.
(b) There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 3: Exhibits
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-ga.htm',USER='dsadagopan',CD='Mar 30 23:05 2005'
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.
| /s/ Michael E. Kenneally | |
| Name: | Michael E. Kenneally |
| Title: | Chief Executive Officer |
| Date: | March 31, 2005 |
| 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. | |
| /s/ Michael E. Kenneally | |
| Name: | Michael E. Kenneally |
| Title: | Chief Executive Officer |
| Date: | March 31, 2005 |
| /s/ Michael A. Pignataro | |
| Name: | Michael A. Pignataro |
| Title: | Chief Financial Officer |
| Date: | March 31, 2005 |
SEQ.=1,FOLIO='',FILE='C:\JMS\kthiyag\05-5391-21\task376005\5391-21-jc.htm',USER='dsadagopan',CD='Mar 30 23:09 2005'
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