<SEC-DOCUMENT>0001057861-11-000012.txt : 20110825
<SEC-HEADER>0001057861-11-000012.hdr.sgml : 20110825
<ACCEPTANCE-DATETIME>20110825114725
ACCESSION NUMBER:		0001057861-11-000012
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110630
FILED AS OF DATE:		20110825
DATE AS OF CHANGE:		20110825
EFFECTIVENESS DATE:		20110825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS HIGH YIELD STRATEGIES FUND
		CENTRAL INDEX KEY:			0001057861
		IRS NUMBER:				134001109
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08703
		FILM NUMBER:		111055765

	BUSINESS ADDRESS:	
		STREET 1:		200 PARK AVENUE, 8TH FLOOR
		STREET 2:		THE DREYFUS CORPORATION
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129226789

	MAIL ADDRESS:	
		STREET 1:		200 PARK AVENUE
		STREET 2:		THE DREYFUS CORPORATION
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>form-430.htm
<DESCRIPTION>FORM N-Q
<TEXT>

<HTML>
<HEAD>
   <TITLE>form-430.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<A name="page_1"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 24pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C.&nbsp; 20549</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">FORM N-Q</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT<BR>INVESTMENT COMPANY</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 638pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="42%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Investment Company Act file number</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="58%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">811-8703</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="42%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="58%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Dreyfus High Yield Strategies Fund</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(Exact name of Registrant as specified in charter)</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">c/o The Dreyfus Corporation</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">200 Park Avenue</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">New York, New York&nbsp; 10166</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Zip code)</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Michael A. Rosenberg, Esq.</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">200 Park Avenue</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">New York, New York&nbsp; 10166</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="84%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(Name and address of agent for service)</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=7>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="55%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Registrant's telephone number, including area code:&nbsp; </FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="45%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(212) 922-6000</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="58%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="42%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="28%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date of fiscal year end:</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;3/31&nbsp;</FONT></P></TD>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="42%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 21.5pt; page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 21.5pt" vAlign=top width="28%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date of reporting period:</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 21.5pt" vAlign=top width="30%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">6/30/11</FONT></P></TD>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="42%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR height=0>

   <TD width="8%">&nbsp;</TD>

   <TD width="20%">&nbsp;</TD>

   <TD width="14%">&nbsp;</TD>

   <TD width="13%">&nbsp;</TD>

   <TD width="3%">&nbsp;</TD>

   <TD width="34%">&nbsp;</TD>

   <TD width="8%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<a name="_bclFooter1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">1-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt">&nbsp;</FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_2"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule of Investments.</FONT></B></P>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">2-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt">&nbsp;</FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_3"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>STATEMENT OF INVESTMENTS</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Dreyfus High Yield Strategies Fund</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>June 30, 2011 (Unaudited)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 668px; HEIGHT: 1030px" cellSpacing=0 border=0>



<TR>

   <TD width="32%"></TD>

   <TD width="20%"></TD>

   <TD width="13%"></TD>

   <TD width="18%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Coupon</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Maturity</FONT>&nbsp;</TD>

   <TD align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Principal</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Bonds and Notes--132.9%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Aerospace &amp; Defense--.5%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ducommun,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>360,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>371,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kratos Defense and Security</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Solutions, Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,030,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,091,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>1,463,500</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Agricultural--1.0%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Rock Salt,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,855,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>2,879,981</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Auto Parts &amp; Equipment--4.2%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chrysler Group and CG Co-Issuer,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,375,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,354,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Goodyear Tire &amp; Rubber,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,590,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,810,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Lear,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>690,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>746,925</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pinafore,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,815,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,129,738</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Pittsburgh Glass Works,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,960,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,023,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>UCI International</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,435,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,485,225</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>12,550,113</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Building &amp; Construction--1.0%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Building Materials,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,775,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,788,312</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Calcipar,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,280,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,289,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>3,077,912</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Cable/Satellite TV--.4%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AMC Networks,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>550,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>576,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>EH Holding,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>640,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>656,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>1,232,125</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Chemicals--5.6%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hexion U.S. Finance/Nova Scotia,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,745,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,797,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Huntsman International,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_4"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 673px; HEIGHT: 1060px" cellSpacing=0 border=0>



<TR>

   <TD width="38%"></TD>

   <TD width="14%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,030,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,222,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Huntsman International,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,515,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,655,138</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ineos Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,100,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,160,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ineos Group Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,150,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,133,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Momentive Performance Materials,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,835,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,880,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>OXEA Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,676,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,757,705</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Polyone,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,900,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,995,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>TPC Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,215,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,263,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Vertellus Specialties,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>700,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>726,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>16,593,143</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Commercial &amp; Professional Services--13.9%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Affinity Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,850,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,006,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Aramark Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,055,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,101,237</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Brickman Group Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,605,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,650,062</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>CDRT Merger Sub,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,505,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,508,762</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cenveo,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,215,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,134,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ceridian,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,780,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b,c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9,828,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ceridian,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,108,150</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,170,313</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dyncorp International,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,160,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,284,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>FTI Consulting,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,040,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,070,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Garda World Security,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,125,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Geo Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,100,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,094,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mobile Mini,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 5px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,685,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,778,975</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>United Rentals North America,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>585,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>637,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Visant,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_5"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 667px; HEIGHT: 1057px" cellSpacing=0 border=0>



<TR>

   <TD width="35%"></TD>

   <TD width="17%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>950,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>988,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>41,380,424</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Diversified Financial Services--13.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ally Financial,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>875,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>918,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ally Financial,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/31</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,765,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,094,437</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ford Motor Credit,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,625,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,888,515</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>HUB International Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Sub. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,678,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,783,255</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Icahn Enterprises Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,660,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,773,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Interactive Data,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,580,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,722,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Lease Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,200,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,546,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Lease Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>950,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b,c</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,033,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>International Lease Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Note</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>925,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,022,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Offshore Group Investment,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>695,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>759,288</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Offshore Group Investments,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,760,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,922,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Reynolds Group Issuer,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,155,000 a,b,c</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,103,063</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Royal Bank of Scotland Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sub. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4.70</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/3/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,841,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,594,974</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>SLM,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/25/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,020,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,172,514</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Springleaf Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.90</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,767,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>USI Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Sub. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,555,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,566,663</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>40,668,909</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Electric Utilities--6.2%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AES,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,045,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,061,981</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AES,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,845,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,103,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Calpine,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>950,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>969,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Calpine,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,025,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,050,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Calpine,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_6"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 673px; HEIGHT: 1067px" cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="17%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/23</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,945,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>2,005,781</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dynegy Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,388,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>1,117,340</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GenOn Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,490,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>2,602,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>North American Energy Alliance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,310,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>1,447,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>NRG Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,695,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>2,829,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>NRG Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,200,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>3,192,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>18,379,377</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Environmental Control--1.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Casella Waste Systems,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,235,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>3,259,262</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>WCA Waste,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,725,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>1,731,469</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>4,990,731</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Food &amp; Beverages--1.1%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Delmonte Foods</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>910,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>923,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Michael Foods,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,075,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>2,230,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>3,154,275</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Health Care--8.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Accellent,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,730,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>1,704,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Alere,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,940,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>2,029,725</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Renal Associates Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>965,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>1,001,187</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Biomet,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,424,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>8,259,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Community Health Systems,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>360,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>371,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>DJO Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,100,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>4,182,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>HCA Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,250,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>5,473,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Iasis Healthcare,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,055,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>1,044,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Radiation Therapy Services,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>980,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>983,675</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>STHI Holding,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>840,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>856,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>25,905,912</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_7"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 672px; HEIGHT: 1077px" cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="18%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Industrial--4.1%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Associated Materials,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>725,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>725,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cemex SAB de CV,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/11/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,100,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,147,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Manitowoc,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,100,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,324,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ply Gem Industries,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>795,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>757,238</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Shea Homes Funding,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,200,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,160,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Standard Pacific,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,025,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,017,406</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>12,131,644</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Lodging &amp; Entertainment--6.2%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AMC Entertaiment Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Sub. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/1/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,750,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,798,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Caesars Entertainment Operating,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,420,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,011,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cinemark USA,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Sub. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,540,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,540,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>MGM Resorts International,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,845,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,022,813</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>MGM Resorts International,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,755,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,106,263</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Palace Entertainment Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,115,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,130,863</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Penn National Gaming,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Sub. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,580,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,818,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>18,427,864</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Manufacturing--2.0%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Griffon,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,080,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,098,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>RBS Global &amp; Rexnord,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,395,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,541,694</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Reddy Ice,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,420,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,459,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>6,098,944</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Media--12.5%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Allbritton Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,585,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,643,162</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>CCH II Capital,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>13.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/30/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,750,286</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,069,713</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cequel Communications Holdings I,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,945,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,032,525</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clear Channel Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_8"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 672px; HEIGHT: 1073px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="19%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/15/14</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,839,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,258,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clear Channel Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,900,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,828,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Clear Channel Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,755,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,500,162</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cumulus Media,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,095,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,032,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Entravision Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>650,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>676,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gray Television,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/29/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,065,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,247,925</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Insight Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,920,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,116,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Kabel BW Erste Beteiligungs,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,120,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,173,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LBI Media,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,249,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,776,710</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>LBI Media,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,320,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,313,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ono Finance II,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,410,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,508,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Quebecor Media,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,025,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,103,469</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Salem Communications,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,923,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,035,976</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sinclair Television Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,775,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,956,938</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>37,273,700</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Metals &amp; Mining--3.6%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Murray Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,470,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,660,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Severstal Columbus,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,500,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7,215,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>10,875,850</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Oil &amp; Gas--7.8%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>American Petroleum Tankers,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,159,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,266,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Aquilex Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,510,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,476,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Brigham Exploration,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,140,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,134,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chesapeake Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,590,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,738,925</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chesapeake Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,675,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,116,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dresser-Rand Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_9"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 671px; HEIGHT: 1074px" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="19%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,015,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,085,525</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Headwaters,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>685,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>626,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>MEG Energy,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,445,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,466,394</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Oasis Petroleum,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,165,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,154,175</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Trinidad Drilling,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,060,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,142,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Unit,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,080,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,082,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>23,290,794</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Packaging &amp; Containers--2.8%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>AEP Industries,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,125,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,140,937</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>ARD Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,625,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,669,687</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>BWAY Holding,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,080,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,183,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>BWAY Parent,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,520,302</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,532,904</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Packaging Dynamics,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>740,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>754,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>8,282,278</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Paper &amp; Forest Products--.8%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Verso Paper Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes, Ser. B</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8/1/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,000,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>932,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Xerium Technologies,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,415,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,415,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>2,347,500</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Retail--6.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ferrellgas Partners,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,023,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,084,380</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ferrellgas,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,365,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,246,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ferrellgas,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,135,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,224,381</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hillman Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>405,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>438,919</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hillman Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,950,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,113,313</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>J Crew Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,200,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,128,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>McJunkin Red Man,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,840,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,903,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Neiman Marcus Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_10"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 672px; HEIGHT: 1075px" cellSpacing=0 border=0>



<TR>

   <TD width="32%"></TD>

   <TD width="20%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>980,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,033,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>QVC,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>525,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>555,188</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>QVC,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,440,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,533,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Rite Aid,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>480,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>451,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Rite Aid,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,325,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,133,188</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Rite Aid,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/16</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,935,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,065,613</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>19,912,832</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Steel--2.5%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>JMC Steel Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,660,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,713,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mueller Water Products,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,290,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,219,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Tube City IMS,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,350,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,475,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>7,407,875</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Technology--4.7%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Alion Science and Technology,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/14</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,226</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6,428</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>CDW / CDW Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,085,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,053,725</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Eagle Parent,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,565,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,484,844</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Data,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,636,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,611,460</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Data,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/24/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>115,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>117,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Data,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/24/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>245,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>252,962</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Data,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/21</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,636,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,758,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sungard Data Systems,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,340,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,457,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wireco WorldGroup,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,975,000 a,b,c</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,213,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>13,956,169</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Telecommunications--17.3%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Cincinnati Bell,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/20</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,175,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,175,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>CommScope,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,980,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,084,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>CPI International Acquisition,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_11"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE style="WIDTH: 678px; HEIGHT: 1075px" cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="18%"></TD>

   <TD width="13%"></TD>

   <TD width="18%"></TD>

   <TD width="2%"></TD>

   <TD width="12%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,355,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,287,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Digicel Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,860,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,993,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Digicel Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,014,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>3,096,885</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Digicel Group,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>631,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>709,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Digicel,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,215,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,266,637</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Digicel,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/1/14</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>780,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>906,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Goodman Networks,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,060,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,057,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Intelsat Luxembourg,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/4/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4,729,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,089,586</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sprint Capital,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/15/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,730,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,647,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sprint Capital,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>6.90</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5/1/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,045,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,116,575</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Telesat Canada,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/15</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>760,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>835,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Telesat Canada,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.50</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,095,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,319,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>West,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,400,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,361,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>West,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/1/18</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,700,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,740,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wind Acquisition Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10,520,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,966,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Wind Acquisition Holdings Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>12.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>7/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,025,969</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>5,817,559</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>51,472,267</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Transportation--3.9%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Hapag-Lloyd,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,050,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a,b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,060,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Marquette Transportation Finance,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>10.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1/15/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,940,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>b</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2,976,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Navios Maritime Acquisition,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,900,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,881,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Navios Maritime Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>2/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,500,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,447,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Navios Maritime Holdings,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>8.88</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/1/17</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>910,000</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>941,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Navios South American Logistics,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Gtd. Notes</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>4/15/19</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,540,000</FONT></TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>a</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,559,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Ultrapetrol Bahamas,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_12"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 681px; HEIGHT: 597px" cellSpacing=0 border=0>



<TR>

   <TD width="36%"></TD>

   <TD width="16%"></TD>

   <TD width="12%"></TD>

   <TD width="17%"></TD>

   <TD width="3%"></TD>

   <TD width="13%"></TD>

   <TD width="2%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>First Mortgage Notes</FONT>&nbsp;</TD>

   <TD align=left width="16%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>9.00</FONT>&nbsp;</TD>

   <TD align=left width="12%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11/24/14</FONT>&nbsp;</TD>

   <TD align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,606,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="13%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>1,618,045</FONT></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%">&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>11,484,895</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total Bonds and Notes</FONT></B>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $383,558,950)</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>395,239,014</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=7>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Preferred Stocks--.9%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="16%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="12%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Shares</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="13%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Diversified Financial Services</FONT></B>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>GMAC Capital Trust I,</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>&nbsp;Ser. 2, Cum., 8.13%</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $2,492,932)</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>98,738</FONT></TD>

   <TD align=left width="3%"><SUP><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>c</FONT></SUP>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>2,527,693</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%">&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Principal</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Short-Term Investments--.3%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="16%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="12%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="13%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>U.S. Treasury Bills;</FONT></B>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>0.09%, 11/17/11</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $959,683)</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>960,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>959,833</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=7>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Other Investment--3.7%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="16%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="12%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Shares</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="13%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Registered Investment Company;</FONT></B>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dreyfus Institutional Preferred</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Plus Money Market Fund</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=left width="17%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 4px" align=left width="36%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $11,065,000)</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>11,065,000</FONT></TD>

   <TD align=left width="3%"><SUP><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>d</FONT></SUP>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>11,065,000</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total Investments </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(cost $398,076,565)</FONT>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>137.8</FONT></B></TD>

   <TD align=left width="3%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>409,791,540</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Liabilities, Less Cash and Receivables</FONT></B>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(37.8</FONT></B></TD>

   <TD align=left width="3%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%)</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(112,490,886</FONT></B></TD>

   <TD align=left width="2%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="36%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Net Assets</FONT></B>&nbsp;</TD>

   <TD align=left width="16%">&nbsp;</TD>

   <TD align=left width="12%">&nbsp;</TD>

   <TD align=right width="17%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>100.0</FONT></B></TD>

   <TD align=left width="3%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>297,300,654</FONT></B></TD>

   <TD align=left width="2%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>a</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Securities 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 June 30, 2011, these securities were valued at $209,612,672 or 70.5% of net assets.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>b</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Collateral for Revolving Credit and Security Agreement.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Variable rate security--interest rate subject to periodic change.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>d</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Investment in affiliated money market mutual fund.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>At June 30, 2011, the aggregate cost of investment securities for income tax purposes was $398,076,565.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=1>Net unrealized appreciation on investments was $11,714,975 of which $14,546,813 related to appreciated investment securities and $2,831,838 related to depreciated investment securities.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 686px; HEIGHT: 155px" cellSpacing=0 border=0>



<TR>

   <TD width="59%"></TD>

   <TD width="40%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Portfolio Summary (Unaudited) &#8224;</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value (%)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporate Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT style="WIDTH: 26pt" face=ArialMT,Arial,Helvetica,sans-serif size=2>132.9</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Short-Term/Money Market Investments</FONT>&nbsp;</TD>

   <TD align=right><FONT style="WIDTH: 26pt" face=ArialMT,Arial,Helvetica,sans-serif size=2>4.0</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Preferred Stocks</FONT>&nbsp;</TD>

   <TD align=right><FONT style="WIDTH: 26pt" face=ArialMT,Arial,Helvetica,sans-serif size=2>.9</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT style="WIDTH: 26pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>137.8</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>&#8224; Based on net assets.</FONT>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_13"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<P style="TEXT-ALIGN: left"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>At June 30, 2011, the fund held the following forward foreign currency exchange contracts: (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="24%"></TD>

   <TD width="20%"></TD>

   <TD width="14%"></TD>

   <TD width="17%"></TD>

   <TD width="20%"></TD>

   <TD width="2%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Forward Foreign Currency</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Foreign</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Unrealized</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Exchange Contracts</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Currency Amount</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Proceeds ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Depreciation) ($)</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Sale;</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Euro,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Expiring 7/27/2011</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>140,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>198,237</FONT>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>202,865</FONT>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(4,628</FONT></B></TD>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_14"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<DIV align=left>

<TABLE style="WIDTH: 1068px; HEIGHT: 352px" cellSpacing=0 border=0>



<TR>

   <TD width="8%"></TD>

   <TD width="4%"></TD>

   <TD width="2%"></TD>

   <TD width="4%"></TD>

   <TD width="13%"></TD>

   <TD width="10%"></TD>

   <TD width="7%"></TD>

   <TD width="2%"></TD>

   <TD width="6%"></TD>

   <TD width="7%"></TD>

   <TD width="5%"></TD>

   <TD width="2%"></TD>

   <TD width="9%"></TD>

   <TD width="2%"></TD>

   <TD width="8%"></TD>

   <TD width="2%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left colSpan=3><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>At June 30, 2011, the fund held the following swaps:</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(Unaudited)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR>

   <TD colSpan=17>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Implied</FONT>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Upfront</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Unrealized</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Notional</FONT>&nbsp;</TD>

   <TD align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Reference</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Credit</FONT>&nbsp;</TD>

   <TD align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Pay) /Receive</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Market</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Premiums Receivable</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Appreciation</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>CURRENT_PRICE</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Entity</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 4px; BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Counterparty</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Fixed Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Spread (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Expriration</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Value</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>(Payable) ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>(Depreciation) ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Buy / Sell</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 21pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(1.58</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 46pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>12,500,000</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Dow Jones CDX.NA.HY.16 Index</FONT>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Deutsche Bank</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 21pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(5.00</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>n/a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 44pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>6/20/2016</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 49pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(216,868.22</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 49pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(343,061.55</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 37pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>126,193</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Buy</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 21pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(1.58</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 46pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>4,150,000</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Dow Jones CDX.NA.HY.16 Index</FONT>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>UBS AG</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 21pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(5.00</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>n/a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 44pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>6/20/2016</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 49pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(72,000.25</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 49pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(12,961.57</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 37pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(59,039</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Buy</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 21pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(1.58</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 46pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>4,150,000</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Dow Jones CDX.NA.HY.16 Index</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Goldman, Sachs &amp; Co.</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 21pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(5.00</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>n/a</FONT>&nbsp;</TD>

   <TD align=middle><FONT style="WIDTH: 44pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>6/20/2016</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 49pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(72,000.34</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 49pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(31,107.87</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2><FONT style="WIDTH: 37pt; TEXT-ALIGN: right" face=Calibri,Arial,Helvetica,sans-serif size=2>(40,892</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Calibri,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD align=middle><FONT face=Calibri,Arial,Helvetica,sans-serif size=2>Buy</FONT>&nbsp;</TD></TR>

<TR>

   <TD colSpan=17>&nbsp;</TD></TR>

<TR>

   <TD colSpan=17>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Gross Unrealized Appreciation</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2><B><FONT style="WIDTH: 37pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>126,193</FONT></B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=left colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Gross Unrealized Depreciation</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle colSpan=2><B><FONT style="WIDTH: 37pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(99,931</FONT></B><B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<!--$$/page=--><A name="page_15"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Various inputs are used in determining the value of the fund's investments relating to fair value measurements.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>These inputs are summarized in the three broad levels listed below.</FONT>&nbsp;</TD></TR>

<TR>

   <TD>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 15px" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 1 </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>- unadjusted quoted prices in active markets for identical investments.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 15px" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 2 </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>- other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds,</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 27px" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>credit risk, etc.).</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 15px" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 3 </FONT></B><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>- significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>in those securities.</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>The following is a summary of the inputs used as of June 30, 2011 in valuing the fund's investments:</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="34%"></TD>

   <TD width="19%"></TD>

   <TD width="16%"></TD>

   <TD width="2%"></TD>

   <TD width="15%"></TD>

   <TD width="10%"></TD>

   <TD width="2%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 2 - Other</FONT></B>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 3 -Significant</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Level 1 - Unadjusted</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Significant Observable</FONT></B>&nbsp;</TD>

   <TD align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Unobservable</FONT></B>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Assets ($)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Quoted Prices</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Total</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Investments in Securities:</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Corporate Bonds+</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>395,239,014</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>395,239,014</FONT></B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Equity Securities - Domestic+</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>2,527,693</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>2,527,693</FONT></B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Mutual Funds</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>11,065,000</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>11,065,000</FONT></B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>U.S. Treasury</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>959,833</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>959,833</FONT></B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Swaps ++</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>126,193</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>126,193</FONT></B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left"></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Liabilities ($)</FONT></B>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Other Financial Instruments:</FONT>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=middle>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=middle>&nbsp;</TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Forward Foreign Currency Exchange Contracts++</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>(4,628</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=ArialMT,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(4,628</FONT></B><B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Swaps ++</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 51pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>(99,931</FONT><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=ArialMT,Arial,Helvetica,sans-serif size=2>)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle><FONT style="WIDTH: 4pt; TEXT-ALIGN: right" face=ArialMT,Arial,Helvetica,sans-serif size=2>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=middle colSpan=2><B><FONT style="WIDTH: 56pt; TEXT-ALIGN: right" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>(99,931</FONT></B><B><FONT style="WIDTH: 4pt; TEXT-ALIGN: left" face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>)</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=7>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>+ See Statement of Investments for additional detailed categorizations.</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left colSpan=2><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>++ Amount shown represents unrealized (depreciation) at period end.</FONT>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD>

   <TD align=middle>&nbsp;</TD>

   <TD align=middle colSpan=2>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<!--$$/page=-->
<A name="page_16"></A><BR>

<a name="_bclPageBorder16"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">The Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification (&#147;ASC&#148;) is the exclusive reference of authoritative U.S. generally accepted accounting principles (&#147;GAAP&#148;) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (&#147;SEC&#148;) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Portfolio valuation: Investments in securities excluding short-term investments (other than U.S. Treasury Bills), swaps and forward foreign currency exchange contracts (&#147;forward contracts&#148;) are valued each business day by an independent pricing service (the &#147;Service&#148;) approved by the Board of Trustees. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are valued as determined by the Service, based on methods which include consideration of: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. Restricted securities, as well as securities or other assets for which recent market quotations are not readily available and are not valued by a pricing service approved by the Board of Trustees, or are determined by the fund not to reflect accurately fair value, are valued at fair value as determined in good faith under the direction of the Board of Trustees. The factors that may be considered when fair valuing a security include fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold and public trading in similar securities of the issuer or comparable issuers. Short-term investments, excluding U.S. Treasury Bills, are carried at amortized cost, which approximates market value. Registered investment companies that are not traded on an exchange are valued at their net asset value. Investments in swap transactions are valued each business day by a pricing service approved by the Board of Trustees. Swaps are valued by the service by using a swap pricing model which incorporates among other</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>



<!--$$/page=-->
<A name="page_17"></A><BR>

<a name="_bclPageBorder17"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">factors, default probabilities, recovery rates, credit curves of the underlying issuer and swap spreads on interest rates. Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange. Forward contracts are valued at the forward rate.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Forward Foreign Currency Exchange Contracts: The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strategy.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract decreases between those dates. With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract increases between those dates. Any realized gain or loss which occurred during the period is reflected in the Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty nonperformance on these forward contracts, which is typically limited to the unrealized gain on each open contract.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Swaps: The fund enters into swap agreements to exchange the interest rate on, or return generated by, one nominal instrument for the return generated by another nominal instrument. The fund enters into these agreements to hedge certain market or interest rate risks, to manage the interest rate sensitivity (sometimes called duration) of fixed income securities, to provide a substitute for purchasing or selling particular securities or to increase potential returns.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">The fund accrues for the interim payments on swap contracts on a daily basis, with the net amount recorded within unrealized appreciation (depreciation) on swap contracts in the Statement of Assets and Liabilities. Once the interim payments are settled in cash, the net amount is recorded as realized gain (loss) on swaps, in addition to realized gain (loss) recorded upon the termination of</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>



<!--$$/page=-->
<A name="page_18"></A><BR>

<a name="_bclPageBorder18"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">swaps contracts in the Statement of Operations. Upfront payments made and/or received by the fund, are recorded as an asset and/or liability in the Statement of Assets and Liabilities and are recorded as a realized gain or loss ratably over the contract&#146;s term/event with the exception of forward starting interest rate swaps which are recorded as realized gains or losses on the termination date. Fluctuations in the value of swap contracts are recorded for financial statement purposes as unrealized appreciation or depreciation on swap transactions.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Credit Default Swaps: Credit default swaps involve commitments to pay a fixed interest rate in exchange for payment if a credit event affecting a third party (the referenced company, obligation or index) occurs. Credit events may include a failure to pay interest or principal, bankruptcy, or restructuring. The fund enters into these agreements to manage its exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults of corporate and sovereign issuers, or to create exposure to corporate or sovereign issuers to which it is not otherwise exposed. For those credit default swaps in which the fund is paying a fixed rate, the fund is buying credit protection on the instrument. In the event of a credit event, the fund would receive the full notional amount for the reference obligation. For those credit default swaps in which the fund is receiving a fixed rate, the fund is selling credit protection on the underlying instrument. The maximum payouts for these contracts are limited to the notional amount of each swap. Credit default swaps may involve greater risks than if the fund had invested in the reference obligation directly and are subject to general market risk, liquidity risk, counterparty risk and credit risk.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">The maximum potential amount of future payments (undiscounted) that a fund as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement which may exceed the amount of unrealized appreciation or depreciation reflected in the Statement of Assets and Liabilities. Notional amounts of all credit default</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>



<!--$$/page=-->
<A name="page_19"></A><BR>

<a name="_bclPageBorder19"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">swap agreements are disclosed in the following chart, which summarizes open credit default swaps on index issues entered into by the fund. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, underlying securities comprising the referenced index, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by the fund for the same referenced entity or entities.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">GAAP requires disclosure for (i) the nature and terms of the credit derivative, reasons for entering into the credit derivative, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative, (ii) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative, (iii) the fair value of the credit derivative, and (iv) the nature of any recourse provisions and assets held either as collateral or by third parties.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>


<A name="page_20"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader20"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controls and Procedures.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's 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 Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.</FONT></P>

<a name="_bclFooter20"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">3-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt">&nbsp;</FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_4"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<a name="_bclHeader21"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 24pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">SIGNATURES<BR><BR></FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">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.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Dreyfus High Yield Strategies Fund</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 500.399pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">/s/ Bradley J. Skapyak</FONT></U></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date:&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">August 19, 2011</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">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.</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">/s/ Bradley J. Skapyak</FONT></U></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date:&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">August 19, 2011</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">/s/ James Windels</FONT></U></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date:&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">August 19, 2011</FONT></P></TD></TR>

<TR style="page-break-inside: avoid">

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">EXHIBIT INDEX</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.&nbsp; (EX-99.CERT)</FONT></P>

<a name="_bclFooter21"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">4-</FONT></FONT><FONT style="mso-bidi-font-size: 12.0pt">&nbsp;</FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>cert302.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

<HTML>
<HEAD>
   <TITLE>cert302.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<A name="page_1"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">SECTION 302 CERTIFICATION</FONT></B></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">I, Bradley J. Skapyak, certify that:</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">1.&nbsp; I have reviewed this report on Form N-Q of Dreyfus High Yield Strategies Fund;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">2.&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">3.&nbsp; Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">4.&nbsp; The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; </FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">5.&nbsp; The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>

<P style="MARGIN-LEFT: 0.25in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; MARGIN-LEFT: 191.4pt; BORDER-LEFT: medium none; WIDTH: 298.199pt; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">/s/ Bradley J. Skapyak</FONT></U></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date:&nbsp;&nbsp;&nbsp; August 19, 2011</FONT></P></TD></TR></TABLE></DIV>

<a name="_bclFooter1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<DIV align=right>

<TABLE cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top align=left>

   <P style="MARGIN: 0in 0in 0pt; mso-element-anchor-horizontal: margin; mso-element-anchor-vertical: paragraph; mso-element-left: center; mso-element-top: .05pt; mso-element-wrap: around; mso-height-rule: exactly"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">1</FONT></P></TD></TR></TABLE></DIV></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<A name="page_2"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">SECTION 302 CERTIFICATION</FONT></B></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">I, James Windels, certify that:</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">1.&nbsp; I have reviewed this report on Form N-Q of Dreyfus High Yield Strategies Fund;</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">2.&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">3.&nbsp; Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">4.&nbsp; The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P>

<P style="MARGIN-LEFT: 12pt; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; </FONT></P>

<P style="MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">5.&nbsp; The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>

<P style="MARGIN-LEFT: 0.25in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; MARGIN-LEFT: 191.4pt; BORDER-LEFT: medium none; WIDTH: 298.199pt; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">/s/ James Windels</FONT></U></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date:&nbsp;&nbsp;&nbsp; August 19, 2011</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<DIV align=right>

<TABLE cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top align=left>

   <P style="MARGIN: 0in 0in 0pt; mso-element-anchor-horizontal: margin; mso-element-anchor-vertical: paragraph; mso-element-left: center; mso-element-top: .05pt; mso-element-wrap: around; mso-height-rule: exactly"><FONT style="FONT-SIZE: 12pt" face="Times New Roman,serif">2</FONT></P></TD></TR></TABLE></DIV></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
