A Hybrid Approach to Investing

Despite today's low-yield environment, many investors will still need to look to fixed income for income generation, growth, and diversification. The low correlation to equities and other fixed income asset classes make high yield bonds an attractive option.

 

Performance discussed within is as of 04/30/2018. See below for most recent performance.

Download the product spotlight to learn more about our selective, straightforward approach to high yield investing

Investment Objective

To provide a high level of long-term total return by investing principally in non-investment grade fixed income securities that are issued by corporate and government entities.

Investment Strategy

Under normal circumstances, the Series will invest at least 80% of its assets in bonds that are rated below investment-grade (junk bonds) and those securities, principally exchange-traded funds, that are designed to track the performance of non-investment grade securities.

May be Appropriate for Investors

  • Seeking a long-term investment and who are willing to accept the risk of interest rate fluctuations
  • Seeking to diversify a portfolio by adding a bond component

Daily Price

$10.13

Daily $ Change

$0.04

Daily % Change

0.39%

as of 11/24/2020

Ticker

MNHYX

CUSIP

56382P583

Inception Date

09/14/2009

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Performance

As of 10/31/2020

YTD

-0.08%

1 Year

3.43%

3 Year

4.08%

5 Year

5.90%

10 Year

5.81%

Inception
(09/14/2009)

6.85%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.03%
Net 0.91%*

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund’s Board of Directors.

Top Ten Investments

As of 10/31/2020

AMERICAN TANKER INC 7.75000 07/02/2025 2.59%
SPDR BARCLAYS CAPITAL HIGH 5.67000 2.58%
TUTOR PERINI CORP 6.87500 05/01/2025 2.34%
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 2.11%
RADIAN GROUP INC 4.87500 03/15/2027 2.05%
STL HOLDING CO LLC 7.50000 02/15/2026 2.04%
NEW FORTRESS ENERGY INC 6.75000 09/15/2025 2.03%
INTL FC STORE INC 8.62500 06/15/2025 2.02%
SLM CORP 4.20000 10/29/2025 2.01%
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 1.97%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 10/31/2020

Cash 1.80%
Corporate 95.67%
Other 2.53%

Credit Quality Distribution

As of 10/31/2020

AAA 1.81%
BBB 3.47%
BB 41.82%
B 41.42%
CCC 2.22%
D 0.39%
NR 8.87%

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Not Rated (NR) is used to classify securities for which a rating is not available. Credit quality ratings for each issue are obtained from Bloomberg using ratings derived from Moody’s Investors Services (Moody’s) or Standard & Poor’s. When ratings from Moody’s are not available, ratings from Standard & Poor’s are used.

October Fund Holdings

As of 10/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00401YAA8 ACADEMY LTD 6.00000 11/15/2027 US 250,000 $250,000.00
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 2,030,000 $2,108,662.50
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 2,057,000 $2,062,142.50
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,770,000 $2,917,667.59
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 1,240,000 $1,331,189.60
03217CAA4 AMS AG 7.00000 07/31/2025 AT 1,340,000 $1,417,050.00
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 1,905,000 $1,714,500.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 1,470,000 $1,308,300.00
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 2,100,000 $2,075,598.00
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 4,253,000 $4,253.00
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 1,256,000 $1,276,221.60
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 1,370,000 $1,435,075.00
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 1,708,000 $1,947,120.00
26884LAG4 EQT CORP 8.75000 02/01/2030 US 1,210,000 $1,503,425.00
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 2,070,000 $1,847,475.00
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 1,987,000 $1,987,000.00
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 1,200,000 $1,414,074.00
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 2,100,000 $2,115,750.00
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 1,275,000 $1,265,718.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 1,435,000 $1,413,776.35
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 1,320,000 $1,404,150.00
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 1,545,000 $1,614,525.00
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 1,985,000 $1,965,150.00
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 2,060,000 $2,147,550.00
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 1,600,000 $1,620,752.00
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 1,400,000 $1,398,250.00
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 1,970,000 $2,139,912.50
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 1,975,000 $2,197,187.50
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 2,115,000 $2,162,587.50
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 1,305,000 $1,398,666.38
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 2,115,000 $2,116,692.00
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 1,390,000 $1,365,675.00
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 1,979,000 $1,959,210.00
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 2,646,000 $2,791,530.00
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 1,385,000 $1,378,864.45
46567TAA2 ITHACA ENERGY NORTH 9.37500 07/15/2024 GB 1,000,000 $870,000.00
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 5,415,000 $175,987.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 1,139,000 $1,220,495.45
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 2,490,000 $2,676,750.00
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 1,950,000 $1,779,375.00
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 1,115,000 $1,130,331.25
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 2,370,000 $314,025.00
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 665,000 $636,285.30
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 2,060,000 $2,116,650.00
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 1,480,000 $1,406,000.00
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 2,070,000 $1,029,825.00
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 1,250,000 $674,487.50
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 1,940,000 $1,969,100.00
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 1,380,000 $1,455,900.00
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 2,725,000 $2,809,938.25
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 6,535,000 $65,350.00
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 1,940,000 $1,898,775.00
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 2,065,000 $1,528,100.00
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 2,050,000 $2,080,750.00
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 1,975,000 $1,956,599.73
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 1,480,000 $1,468,160.00
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 1,700,000 $1,731,875.00
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 1,335,000 $1,258,237.50
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 1,955,000 $2,050,795.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 2,160,000 $2,257,200.00
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 2,150,000 $2,166,770.00
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 2,050,000 $2,071,484.00
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 2,775,000 $2,837,437.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 1,483,000 $1,523,782.50
78442PGD2 SLM CORP 4.20000 10/29/2025 US 2,740,000 $2,774,250.00
78468R622 SPDR BARCLAYS CAPITAL HIGH 5.67000 US 34,126 $3,559,341.80
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 1,375,000 $1,524,682.50
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 2,040,000 $1,978,800.00
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 2,830,000 $2,812,312.50
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 1,785,000 $1,747,068.75
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 870,000 $32,277.00
87901JAF2 TEGNA INC 4.75000 03/15/2026 US 1,385,000 $1,423,087.50
88167AAK7 TEVA PHARMACEUTICALS NE 6.75000 03/01/2028 NL 1,200,000 $1,260,450.00
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 1,935,000 $1,799,550.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 3,395,000 $3,233,737.50
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 1,375,000 $1,423,125.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 1,290,000 $1,395,618.75
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 3,550,000 $3,571,548.50
USD US DOLLAR US 2,535,287.69 $2,535,287.69
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 2,750,000 $2,715,542.50
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 2,800,000 $2,628,913.53

Investments will change over time.

Distributions

  • High Yield Bond Series Class S Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2020 Distributions Estimates
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • High Yield Bond Return of Capital 2017

A Word About Risk

All investments involve risks, including possible loss of principal. There is an inverse relationship between bond prices and interest rates; as interest rates rise, bond prices (and therefore the value of bond funds) fall. Likewise, as interest rates fall, bond prices and the value of bond funds rise. Investments in higher-yielding, lower-rated securities involve additional risks, including a higher risk of default and loss of principal. Investments in derivatives can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

A Hybrid Approach to Investing

Despite today's low-yield environment, many investors will still need to look to fixed income for income generation, growth, and diversification. The low correlation to equities and other fixed income asset classes make high yield bonds an attractive option.

 

Performance discussed within is as of 04/30/2018. See below for most recent performance.

Download the product spotlight to learn more about our selective, straightforward approach to high yield investing

Daily Price

$10.13

Daily $ Change

$0.04

Daily % Change

0.39%

as of 11/24/2020

Ticker

MNHYX

CUSIP

56382P583

Inception Date

09/14/2009

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To provide a high level of long-term total return by investing principally in non-investment grade fixed income securities that are issued by corporate and government entities.

Investment Strategy

Under normal circumstances, the Series will invest at least 80% of its assets in bonds that are rated below investment-grade (junk bonds) and those securities, principally exchange-traded funds, that are designed to track the performance of non-investment grade securities.

May be Appropriate for Investors

  • Seeking a long-term investment and who are willing to accept the risk of interest rate fluctuations
  • Seeking to diversify a portfolio by adding a bond component

Performance

As of 10/31/2020

YTD

-0.08%

1 Year

3.43%

3 Year

4.08%

5 Year

5.90%

10 Year

5.81%

Inception
(09/14/2009)

6.85%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.03%
Net 0.91%*

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund’s Board of Directors.

Top Ten Investments

As of 10/31/2020

AMERICAN TANKER INC 7.75000 07/02/2025 2.59%
SPDR BARCLAYS CAPITAL HIGH 5.67000 2.58%
TUTOR PERINI CORP 6.87500 05/01/2025 2.34%
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 2.11%
RADIAN GROUP INC 4.87500 03/15/2027 2.05%
STL HOLDING CO LLC 7.50000 02/15/2026 2.04%
NEW FORTRESS ENERGY INC 6.75000 09/15/2025 2.03%
INTL FC STORE INC 8.62500 06/15/2025 2.02%
SLM CORP 4.20000 10/29/2025 2.01%
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 1.97%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 10/31/2020

Cash
1.80%
Corporate
95.67%
Other
2.53%

Credit Quality Distribution

As of 10/31/2020

AAA
1.81%
BBB
3.47%
BB
41.82%
B
41.42%
CCC
2.22%
D
0.39%
NR
8.87%

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Not Rated (NR) is used to classify securities for which a rating is not available. Credit quality ratings for each issue are obtained from Bloomberg using ratings derived from Moody’s Investors Services (Moody’s) or Standard & Poor’s. When ratings from Moody’s are not available, ratings from Standard & Poor’s are used.

October Fund Holdings

As of 10/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00401YAA8 ACADEMY LTD 6.00000 11/15/2027 US 250,000 $250,000.00
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 2,030,000 $2,108,662.50
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 2,057,000 $2,062,142.50
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 2,770,000 $2,917,667.59
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 1,240,000 $1,331,189.60
03217CAA4 AMS AG 7.00000 07/31/2025 AT 1,340,000 $1,417,050.00
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 1,905,000 $1,714,500.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 1,470,000 $1,308,300.00
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 2,100,000 $2,075,598.00
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 4,253,000 $4,253.00
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 1,256,000 $1,276,221.60
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 1,370,000 $1,435,075.00
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 1,708,000 $1,947,120.00
26884LAG4 EQT CORP 8.75000 02/01/2030 US 1,210,000 $1,503,425.00
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 2,070,000 $1,847,475.00
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 1,987,000 $1,987,000.00
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 1,200,000 $1,414,074.00
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 2,100,000 $2,115,750.00
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 1,275,000 $1,265,718.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 1,435,000 $1,413,776.35
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 1,320,000 $1,404,150.00
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 1,545,000 $1,614,525.00
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 1,985,000 $1,965,150.00
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 2,060,000 $2,147,550.00
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 1,600,000 $1,620,752.00
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 1,400,000 $1,398,250.00
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 1,970,000 $2,139,912.50
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 1,975,000 $2,197,187.50
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 2,115,000 $2,162,587.50
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 1,305,000 $1,398,666.38
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 2,115,000 $2,116,692.00
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 1,390,000 $1,365,675.00
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 1,979,000 $1,959,210.00
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 2,646,000 $2,791,530.00
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 1,385,000 $1,378,864.45
46567TAA2 ITHACA ENERGY NORTH 9.37500 07/15/2024 GB 1,000,000 $870,000.00
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 5,415,000 $175,987.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 1,139,000 $1,220,495.45
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 2,490,000 $2,676,750.00
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 1,950,000 $1,779,375.00
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 1,115,000 $1,130,331.25
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 2,370,000 $314,025.00
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 665,000 $636,285.30
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 2,060,000 $2,116,650.00
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 1,480,000 $1,406,000.00
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 2,070,000 $1,029,825.00
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 1,250,000 $674,487.50
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 1,940,000 $1,969,100.00
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 1,380,000 $1,455,900.00
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 2,725,000 $2,809,938.25
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 6,535,000 $65,350.00
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 1,940,000 $1,898,775.00
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 2,065,000 $1,528,100.00
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 2,050,000 $2,080,750.00
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 1,975,000 $1,956,599.73
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 1,480,000 $1,468,160.00
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 1,700,000 $1,731,875.00
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 1,335,000 $1,258,237.50
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 1,955,000 $2,050,795.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 2,160,000 $2,257,200.00
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 2,150,000 $2,166,770.00
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 2,050,000 $2,071,484.00
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 2,775,000 $2,837,437.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 1,483,000 $1,523,782.50
78442PGD2 SLM CORP 4.20000 10/29/2025 US 2,740,000 $2,774,250.00
78468R622 SPDR BARCLAYS CAPITAL HIGH 5.67000 US 34,126 $3,559,341.80
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 1,375,000 $1,524,682.50
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 2,040,000 $1,978,800.00
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 2,830,000 $2,812,312.50
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 1,785,000 $1,747,068.75
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 870,000 $32,277.00
87901JAF2 TEGNA INC 4.75000 03/15/2026 US 1,385,000 $1,423,087.50
88167AAK7 TEVA PHARMACEUTICALS NE 6.75000 03/01/2028 NL 1,200,000 $1,260,450.00
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 1,935,000 $1,799,550.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 3,395,000 $3,233,737.50
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 1,375,000 $1,423,125.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 1,290,000 $1,395,618.75
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 3,550,000 $3,571,548.50
USD US DOLLAR US 2,535,287.69 $2,535,287.69
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 2,750,000 $2,715,542.50
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 2,800,000 $2,628,913.53

Investments will change over time.

Distributions

  • High Yield Bond Series Class S Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2020 Distributions Estimates
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • High Yield Bond Return of Capital 2017

A Word About Risk

All investments involve risks, including possible loss of principal. There is an inverse relationship between bond prices and interest rates; as interest rates rise, bond prices (and therefore the value of bond funds) fall. Likewise, as interest rates fall, bond prices and the value of bond funds rise. Investments in higher-yielding, lower-rated securities involve additional risks, including a higher risk of default and loss of principal. Investments in derivatives can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.


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