UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21407
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Nuveen Diversified Dividend and Income Fund | ||||||||
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(Exact name of registrant as specified in charter) | ||||||||
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333 West Wacker Drive, Chicago, Illinois 60606 |
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(Address of principal executive offices) (Zip code) |
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Kevin J. McCarthy—Vice President and Secretary |
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(Name and address of agent for service) |
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Registrant’s telephone number, including area code: |
312-917-7700 |
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Date of fiscal year end: |
12/31 |
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Date of reporting period: |
3/31/2015 |
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Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
|
|
Portfolio of Investments |
|
|
|
Nuveen Diversified Dividend and Income Fund (JDD) |
|
|
|
March 31, 2015 (Unaudited) |
|
|
Shares |
|
Description (1) |
|
Value |
|
|
|
|
LONG-TERM INVESTMENTS – 137.5% (95.8% of Total Investments) |
|
|
|
|
|
|
COMMON STOCKS – 32.4% (22.5% of Total Investments) |
|
|
|
|
|
|
Airlines – 0.3% |
|
|
|
|
7,100 |
|
Copa Holdings SA |
|
$ 716,887 |
|
|
|
|
Automobiles – 1.2% |
|
|
|
|
10,500 |
|
Daimler AG, (4) |
|
981,750 |
|
|
78,100 |
|
Ford Motor Company |
|
1,260,534 |
|
|
26,800 |
|
General Motors Company |
|
1,005,000 |
|
|
|
|
Total Automobiles |
|
3,247,284 |
|
|
|
|
Banks – 2.7% |
|
|
|
|
265,000 |
|
Barclays PLC, (4) |
|
956,524 |
|
|
34,100 |
|
Citigroup Inc. |
|
1,756,832 |
|
|
93,200 |
|
ING Groep N.V |
|
1,361,652 |
|
|
28,000 |
|
JP Morgan Chase & Co. |
|
1,696,240 |
|
|
30,200 |
|
Wells Fargo & Company |
|
1,642,880 |
|
|
|
|
Total Banks |
|
7,414,128 |
|
|
|
|
Capital Markets – 1.7% |
|
|
|
|
86,000 |
|
Ares Capital Corporation |
|
1,476,620 |
|
|
53,800 |
|
Bank New York Mellon |
|
2,164,912 |
|
|
55,200 |
|
UBS Group AG, (4) |
|
1,035,061 |
|
|
|
|
Total Capital Markets |
|
4,676,593 |
|
|
|
|
Chemicals – 0.8% |
|
|
|
|
20,000 |
|
Agrium Inc. |
|
2,085,400 |
|
|
|
|
Communications Equipment – 1.2% |
|
|
|
|
54,800 |
|
Cisco Systems, Inc. |
|
1,508,370 |
|
|
149,000 |
|
Ericsson |
|
1,869,950 |
|
|
|
|
Total Communications Equipment |
|
3,378,320 |
|
|
|
|
Containers & Packaging – 0.6% |
|
|
|
|
34,000 |
|
Avery Dennison Corporation |
|
1,798,940 |
|
|
|
|
Diversified Financial Services – 0.8% |
|
|
|
|
271,700 |
|
Deutsche Boerse AG, (4) |
|
2,202,129 |
|
|
|
|
Diversified Telecommunication Services – 1.7% |
|
|
|
|
595,000 |
|
Bezeq Israeli Telecommunication Corporation Limited, (4) |
|
1,107,975 |
|
|
86,200 |
|
Nippon Telegraph and Telephone Corporation, ADR |
|
2,656,684 |
|
|
135,100 |
|
TDC A/S, (4) |
|
967,986 |
|
|
|
|
Total Diversified Telecommunication Services |
|
4,732,645 |
|
|
|
|
Electric Utilities – 0.3% |
|
|
|
|
261,000 |
|
EDP - Energias de Portugal, S.A., (4) |
|
977,483 |
|
|
|
|
Food & Staples Retailing – 1.0% |
|
|
|
|
26,900 |
|
CVS Caremark Corporation |
|
2,776,349 |
|
|
|
|
Food Products – 0.4% |
|
|
|
|
160,800 |
|
Orkla ASA |
|
1,210,824 |
|
|
|
|
Hotels, Restaurants & Leisure – 0.9% |
|
|
|
|
21,150 |
|
Hyatt Hotels Corporation, Class A, (2) |
|
1,252,503 |
|
|
13,600 |
|
Starwood Hotels & Resorts Worldwide, Inc. |
|
1,135,600 |
|
|
|
|
Total Hotels, Restaurants & Leisure |
|
2,388,103 |
|
|
|
|
Independent Power & Renewable Electricity Producers – 0.2% |
|
|
|
|
15,000 |
|
Abengoa Yield PLC |
|
506,700 |
|
|
|
|
Industrial Conglomerates – 0.9% |
|
|
|
|
38,200 |
|
General Electric Company |
|
947,742 |
|
|
53,500 |
|
Philips Electronics |
|
1,516,190 |
|
|
|
|
Total Industrial Conglomerates |
|
2,463,932 |
|
|
|
|
Insurance – 3.3% |
|
|
|
|
5,900 |
|
Allianz AG ORD Shares, (4) |
|
1,024,338 |
|
|
26,200 |
|
American International Group, Inc. |
|
1,435,498 |
|
|
121,000 |
|
CGNU PLC, (4) |
|
968,349 |
|
|
27,300 |
|
Swiss Re AG, (4) |
|
2,644,838 |
|
|
88,000 |
|
Unum Group |
|
2,968,240 |
|
|
|
|
Total Insurance |
|
9,041,263 |
|
|
|
|
Media – 3.2% |
|
|
|
|
81,700 |
|
Interpublic Group of Companies, Inc. |
|
1,807,204 |
|
|
2,099 |
|
Metro-Goldwyn-Mayer, (2), (4) |
|
154,801 |
|
|
31,350 |
|
National CineMedia, Inc. |
|
473,385 |
|
|
89,000 |
|
ProSiebenSat.1 Media AG, (4) |
|
1,085,800 |
|
|
148,000 |
|
RTL Group SA, (4) |
|
1,423,731 |
|
|
26,300 |
|
Time Warner Inc. |
|
2,220,772 |
|
|
3,958 |
|
Tribune Company |
|
240,686 |
|
|
3,184 |
|
Tribune Company, (3) |
|
— |
|
|
989 |
|
Tribune Publishing Company |
|
19,187 |
|
|
19,900 |
|
Viacom Inc., Class B |
|
1,359,170 |
|
|
|
|
Total Media |
|
8,784,736 |
|
|
|
|
Oil, Gas & Consumable Fuels – 1.5% |
|
|
|
|
12,500 |
|
Phillips 66 |
|
982,500 |
|
|
23,400 |
|
Royal Dutch Shell PLC, Class A |
|
1,395,810 |
|
|
29,200 |
|
Suncor Energy, Inc. |
|
854,100 |
|
|
17,700 |
|
Total SA, Sponsored ADR |
|
878,982 |
|
|
|
|
Total Oil, Gas & Consumable Fuels |
|
4,111,392 |
|
|
|
|
Pharmaceuticals – 6.2% |
|
|
|
|
32,300 |
|
AbbVie Inc. |
|
1,890,842 |
|
|
15,900 |
|
AstraZeneca PLC |
|
1,088,037 |
|
|
63,500 |
|
GlaxoSmithKline PLC |
|
2,930,525 |
|
|
22,600 |
|
Merck & Company Inc. |
|
1,299,048 |
|
|
69,700 |
|
Pfizer Inc., (5) |
|
2,424,863 |
|
|
44,400 |
|
Roche Holdings AG, Sponsored ADR, (4) |
|
1,526,472 |
|
|
62,300 |
|
Sanofi-Aventis |
|
3,080,112 |
|
|
45,300 |
|
Teva Pharmaceutical Industries Limited, Sponsored ADR |
|
2,822,190 |
|
|
|
|
Total Pharmaceuticals |
|
17,062,089 |
|
|
|
|
Semiconductors & Semiconductor Equipment – 0.8% |
|
|
|
|
20,000 |
|
Analog Devices, Inc. |
|
1,260,000 |
|
|
20,200 |
|
Microchip Technology Incorporated, (5) |
|
987,779 |
|
|
|
|
Total Semiconductors & Semiconductor Equipment |
|
2,247,779 |
|
|
|
|
Software – 1.7% |
|
|
|
|
246,734 |
|
Eagle Topco LP, (2), (3) |
|
— |
|
|
43,000 |
|
Microsoft Corporation |
|
1,748,164 |
|
|
67,000 |
|
Oracle Corporation |
|
2,891,049 |
|
|
|
|
Total Software |
|
4,639,213 |
|
|
|
|
Technology, Hardware, Storage & Peripherals – 0.3% |
|
|
|
|
17,000 |
|
Seagate Technology |
|
884,510 |
|
|
|
|
Tobacco – 0.7% |
|
|
|
|
21,000 |
|
Imperial Tobacco Group, (4) |
|
1,847,160 |
|
|
|
|
Total Common Stocks (cost $72,770,226) |
|
89,193,859 |
|
|
|
|
|
|
|
|
|
Shares |
|
Description (1) |
|
Value |
|
|
|
|
REAL ESTATE INVESTMENT TRUST (REIT) COMMON STOCKS – 40.1% (28.0% of Total Investments) |
|
|
|
|
|
|
Diversified – 1.5% |
|
|
|
|
127,150 |
|
Duke Realty Corporation |
|
$ 2,768,055 |
|
|
35,500 |
|
Liberty Property Trust |
|
1,267,350 |
|
|
|
|
Total Diversified |
|
4,035,405 |
|
|
|
|
Health Care – 5.0% |
|
|
|
|
77,150 |
|
Health Care Property Investors Inc. |
|
3,333,652 |
|
|
63,250 |
|
Health Care REIT, Inc. |
|
4,893,020 |
|
|
93,050 |
|
Senior Housing Properties Trust |
|
2,064,779 |
|
|
46,850 |
|
Ventas Inc. |
|
3,420,987 |
|
|
|
|
Total Health Care |
|
13,712,438 |
|
|
|
|
Hotels, Retaurants & Leisure – 2.2% |
|
|
|
|
136,392 |
|
Host Hotels & Resorts Inc. |
|
2,752,391 |
|
|
40,100 |
|
LaSalle Hotel Properties |
|
1,558,286 |
|
|
52,200 |
|
RLJ Lodging Trust |
|
1,634,382 |
|
|
|
|
Total Hotels, Retaurants & Leisure |
|
5,945,059 |
|
|
|
|
Industrial – 2.5% |
|
|
|
|
30,250 |
|
DCT Industrial Trust Inc. |
|
1,048,465 |
|
|
133,348 |
|
Prologis Inc. |
|
5,808,639 |
|
|
|
|
Total Industrial |
|
6,857,104 |
|
|
|
|
Mortgage – 0.6% |
|
|
|
|
51,000 |
|
PennyMac Mortgage Investment Trust |
|
1,085,790 |
|
|
31,500 |
|
Redwood Trust Inc. |
|
562,905 |
|
|
|
|
Total Mortgage |
|
1,648,695 |
|
|
|
|
Office – 7.6% |
|
|
|
|
30,250 |
|
Alexandria Real Estate Equities Inc. |
|
2,965,710 |
|
|
156,700 |
|
BioMed Realty Trust Inc. |
|
3,550,822 |
|
|
21,650 |
|
Boston Properties, Inc. |
|
3,041,392 |
|
|
91,550 |
|
Brandywine Realty Trust |
|
1,462,969 |
|
|
38,650 |
|
Columbia Property Trust Inc. |
|
1,044,323 |
|
|
56,100 |
|
Douglas Emmett Inc. |
|
1,672,341 |
|
|
12,900 |
|
Kilroy Realty Corporation |
|
982,593 |
|
|
52,700 |
|
Paramount Group Inc. |
|
1,017,110 |
|
|
15,750 |
|
SL Green Realty Corporation |
|
2,021,985 |
|
|
28,100 |
|
Vornado Realty Trust |
|
3,147,200 |
|
|
|
|
Total Office |
|
20,906,445 |
|
|
|
|
Residential – 7.4% |
|
|
|
|
70,526 |
|
Apartment Investment & Management Company, Class A |
|
2,775,903 |
|
|
26,725 |
|
AvalonBay Communities, Inc. |
|
4,656,831 |
|
|
34,800 |
|
Equity Lifestyles Properties Inc. |
|
1,912,260 |
|
|
64,100 |
|
Equity Residential |
|
4,990,826 |
|
|
8,000 |
|
Essex Property Trust Inc. |
|
1,839,200 |
|
|
14,350 |
|
Mid-America Apartment Communities |
|
1,108,825 |
|
|
10,550 |
|
Post Properties, Inc. |
|
600,612 |
|
|
77,200 |
|
UDR Inc. |
|
2,627,116 |
|
|
|
|
Total Residential |
|
20,511,573 |
|
|
|
|
Retail – 10.0% |
|
|
|
|
91,900 |
|
Brixmor Property Group Inc. |
|
2,439,945 |
|
|
114,250 |
|
Developers Diversified Realty Corporation |
|
2,127,335 |
|
|
81,410 |
|
General Growth Properties Inc. |
|
2,405,666 |
|
|
78,700 |
|
Kimco Realty Corporation |
|
2,113,095 |
|
|
67,350 |
|
Kite Realty Group Trust |
|
1,897,250 |
|
|
26,691 |
|
Macerich Company |
|
2,250,852 |
|
|
22,200 |
|
Regency Centers Corporation |
|
1,510,488 |
|
|
61,300 |
|
Retail Opportunity Investments Corporation |
|
1,121,790 |
|
|
52,035 |
|
Simon Property Group, Inc. |
|
10,180,127 |
|
|
20,750 |
|
Taubman Centers Inc. |
|
1,600,448 |
|
|
|
|
Total Retail |
|
27,646,996 |
|
|
|
|
Specialized – 3.3% |
|
|
|
|
127,950 |
|
CubeSmart |
|
3,089,992 |
|
|
18,900 |
|
Extra Space Storage Inc. |
|
1,277,073 |
|
|
24,524 |
|
Public Storage, Inc. |
|
4,834,660 |
|
|
|
|
Total Specialized |
|
9,201,725 |
|
|
|
|
Total Real Estate Investment Trust (REIT) Common Stocks (cost $70,704,163) |
|
110,465,440 |
|
|
Shares |
|
Description (1) |
|
Coupon |
|
|
|
Ratings (6) |
|
Value |
|
|
|
|
CONVERTIBLE PREFERRED SECURITIES – 0.2% (0.1% of Total Investments) |
|
|
|
|
| ||||
|
|
|
Diversified Telecommunication Services – 0.2% |
|
|
|
|
| ||||
|
16,500 |
|
IntelSat SA |
|
5.750% |
|
|
|
N/R |
|
$ 574,200 |
|
|
|
|
Total Convertible Preferred Securities (cost $887,320) |
|
|
|
|
|
574,200 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
Description (1) |
|
Coupon |
|
|
|
Ratings (6) |
|
Value |
|
|
|
|
$25 PAR (OR SIMILAR) RETAIL PREFERRED SECURITIES – 0.4% (0.3% of Total Investments) |
|
|
| ||||||
|
|
|
Banks – 0.4% |
|
|
|
|
|
|
|
|
|
|
36,300 |
|
Citigroup Inc. |
|
6.875% |
|
|
|
BB+ |
|
$ 989,538 |
|
|
|
|
Total $25 Par (or similar) Retail Preferred (cost $968,177) |
|
|
|
989,538 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
Description (1) |
|
Coupon |
|
Maturity |
|
Ratings (6) |
|
Value |
|
|
|
|
$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 0.7% (0.5% of Total Investments) |
|
|
| ||||||
|
|
|
Banks – 0.4% |
|
|
|
|
|
|
|
|
|
|
$ 961,000 |
|
Bank of America Corporation |
|
6.100% |
|
N/A (7) |
|
BB |
|
$ 974,814 |
|
|
|
|
Diversified Financial Services – 0.3% |
|
|
|
|
|
|
|
|
|
|
950,000 |
|
JP Morgan Chase & Company |
|
6.000% |
|
N/A (7) |
|
BBB- |
|
961,875 |
|
|
$ 1,911,000 |
|
Total $1,000 Par (or similar) Institutional Preferred (cost $1,917,002) |
|
1,936,689 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
Description (1) |
|
Coupon |
|
Maturity (8) |
|
Ratings (6) |
|
Value |
|
|
|
|
VARIABLE RATE SENIOR LOAN INTERESTS – 31.7% (22.1% of Total Investments) (9) |
|
|
| ||||||
|
|
|
Aerospace & Defense – 0.4% |
|
|
|
|
|
|
|
|
|
|
$ 648 |
|
B/E Aerospace, Inc., Term Loan B, First Lien |
|
4.000% |
|
12/16/21 |
|
BB+ |
|
$ 654,451 |
|
|
403 |
|
Hamilton Sundstrand, Term Loan, First Lien |
|
4.000% |
|
12/13/19 |
|
B+ |
|
383,142 |
|
|
1,051 |
|
Total Aerospace & Defense |
|
|
|
|
|
|
|
1,037,593 |
|
|
|
|
Airlines – 1.1% |
|
|
|
|
|
|
|
|
|
|
491 |
|
American Airlines, Inc., Term Loan |
|
3.750% |
|
6/27/19 |
|
BB |
|
491,952 |
|
|
489 |
|
Delta Air Lines, Inc., Term Loan B1 |
|
3.250% |
|
10/18/18 |
|
BBB- |
|
489,273 |
|
|
2,000 |
|
US Airways, Inc., Term Loan B2, First Lien |
|
3.000% |
|
11/23/16 |
|
BB |
|
1,998,334 |
|
|
2,980 |
|
Total Airlines |
|
|
|
|
|
|
|
2,979,559 |
|
|
|
|
Automobiles – 1.1% |
|
|
|
|
|
|
|
|
|
|
987 |
|
Chrysler Group LLC, Term Loan B |
|
3.500% |
|
5/24/17 |
|
BB+ |
|
987,794 |
|
|
990 |
|
Chrysler Group LLC, Tranche B, Term Loan |
|
3.250% |
|
12/31/18 |
|
BB+ |
|
989,794 |
|
|
1,114 |
|
Formula One Group, Term Loan, First Lien |
|
4.750% |
|
7/30/21 |
|
B |
|
1,108,300 |
|
|
3,091 |
|
Total Automobiles |
|
|
|
|
|
|
|
3,085,888 |
|
|
|
|
Building Products – 0.3% |
|
|
|
|
|
|
|
|
|
|
796 |
|
Gates Global LLC, Term Loan |
|
4.250% |
|
7/03/21 |
|
B+ |
|
793,948 |
|
|
|
|
Capital Markets – 0.2% |
|
|
|
|
|
|
|
|
|
|
493 |
|
Guggenheim Partners LLC, Initial Term Loan |
|
4.250% |
|
7/22/20 |
|
N/R |
|
494,962 |
|
|
|
|
Chemicals – 0.9% |
|
|
|
|
|
|
|
|
|
|
457 |
|
Mineral Technologies, Inc., Term Loan B, First Lien |
|
4.000% |
|
5/07/21 |
|
BB |
|
460,808 |
|
|
958 |
|
Univar, Inc., Term Loan |
|
5.000% |
|
6/30/17 |
|
B+ |
|
957,763 |
|
|
939 |
|
US Coatings Acquisition, Term Loan B |
|
3.750% |
|
2/01/20 |
|
B+ |
|
934,754 |
|
|
2,354 |
|
Total Chemicals |
|
|
|
|
|
|
|
2,353,325 |
|
|
|
|
Commercial Services & Supplies – 0.7% |
|
|
|
|
|
|
|
|
|
|
969 |
|
ADS Waste Holdings, Inc., Initial Term Loan, Tranche B2 |
|
3.750% |
|
10/09/19 |
|
B+ |
|
960,535 |
|
|
993 |
|
Millennium Laboratories, Inc., Tranche B, Term Loan |
|
5.250% |
|
4/16/21 |
|
B+ |
|
1,001,598 |
|
|
1,962 |
|
Total Commercial Services & Supplies |
|
|
|
|
|
|
|
1,962,133 |
|
|
|
|
Construction & Engineering – 0.1% |
|
|
|
|
|
|
|
|
|
|
319 |
|
Aecom Technology Corporation, Term Loan B |
|
3.750% |
|
10/17/21 |
|
BB+ |
|
322,161 |
|
|
|
|
Containers & Packaging – 0.9% |
|
|
|
|
|
|
|
|
|
|
998 |
|
Crown Americas, Inc., Term Loan B, First Lien |
|
4.000% |
|
10/20/21 |
|
Baa3 |
|
1,008,332 |
|
|
1,527 |
|
Reynolds Group Holdings, Inc., Incremental US Term Loan, First Lien |
|
4.500% |
|
12/01/18 |
|
B+ |
|
1,534,792 |
|
|
2,525 |
|
Total Containers & Packaging |
|
|
|
|
|
|
|
2,543,124 |
|
|
|
|
Diversified Consumer Services – 0.6% |
|
|
|
|
|
|
|
|
|
|
1,276 |
|
Hilton Hotels Corporation, Term Loan B2 |
|
3.500% |
|
10/25/20 |
|
BBB- |
|
1,279,393 |
|
|
457 |
|
ServiceMaster Company, Term Loan, DD1 |
|
4.250% |
|
7/01/21 |
|
B+ |
|
457,759 |
|
|
1,733 |
|
Total Diversified Consumer Services |
|
|
|
|
|
|
|
1,737,152 |
|
|
|
|
Diversified Telecommunication Services – 1.4% |
|
|
|
|
|
|
| ||
|
179 |
|
Intelsat Jackson Holdings, S.A., Tranche B2, Term Loan |
|
3.750% |
|
6/30/19 |
|
BB- |
|
178,703 |
|
|
500 |
|
Level 3 Financing, Inc., Term Loan B, First Lien |
|
4.500% |
|
1/31/22 |
|
BB |
|
503,259 |
|
|
993 |
|
SBA Communication, Incremental Term Loan, Tranche B1 |
|
3.250% |
|
3/24/21 |
|
BB |
|
988,690 |
|
|
429 |
|
WideOpenWest Finance LLC, Term Loan B |
|
4.750% |
|
4/01/19 |
|
Ba3 |
|
430,270 |
|
|
733 |
|
Windstream Corporation, Term Loan B4 |
|
3.500% |
|
1/23/20 |
|
BB+ |
|
733,583 |
|
|
370 |
|
Ziggo NV, Term Loan B1 |
|
3.500% |
|
1/15/22 |
|
BB- |
|
367,823 |
|
|
238 |
|
Ziggo NV, Term Loan B2 |
|
3.500% |
|
1/15/22 |
|
BB- |
|
237,032 |
|
|
392 |
|
Ziggo NV, Term Loan B3 |
|
3.500% |
|
1/15/22 |
|
BB- |
|
389,833 |
|
|
3,834 |
|
Total Diversified Telecommunication Services |
|
|
|
|
|
|
|
3,829,193 |
|
|
|
|
Energy Equipment & Services – 0.0% |
|
|
|
|
|
|
|
|
|
|
152 |
|
Drill Rigs Holdings, Inc., Tranche B1, Term Loan |
|
6.000% |
|
3/31/21 |
|
B+ |
|
116,271 |
|
|
|
|
Food & Staples Retailing – 0.9% |
|
|
|
|
|
|
|
|
|
|
2,000 |
|
Albertson’s LLC, Term Loan B4 |
|
5.500% |
|
8/25/21 |
|
BB- |
|
2,018,888 |
|
|
500 |
|
BJ’s Wholesale Club, Inc., Replacement Loan, Second Lien |
|
8.500% |
|
3/26/20 |
|
CCC |
|
500,625 |
|
|
2,500 |
|
Total Food & Staples Retailing |
|
|
|
|
|
|
|
2,519,513 |
|
|
|
|
Food Products – 2.4% |
|
|
|
|
|
|
|
|
|
|
1,834 |
|
H.J Heinz Company, Term Loan B2 |
|
3.250% |
|
6/05/20 |
|
BB+ |
|
1,837,902 |
|
|
1,000 |
|
Jacobs Douwe Egberts, Term Loan B |
|
3.500% |
|
7/23/21 |
|
BB |
|
998,125 |
|
|
3,809 |
|
US Foods, Inc., Incremental Term Loan |
|
4.500% |
|
3/31/19 |
|
B2 |
|
3,813,950 |
|
|
6,643 |
|
Total Food Products |
|
|
|
|
|
|
|
6,649,977 |
|
|
|
|
Health Care Equipment & Supplies – 1.4% |
|
|
|
|
|
|
|
|
|
|
929 |
|
ConvaTec, Inc., Dollar Term Loan |
|
4.000% |
|
12/22/16 |
|
Ba3 |
|
933,222 |
|
|
1,452 |
|
Kinetic Concepts, Inc., Term Loan E-1 Loan |
|
4.500% |
|
5/04/18 |
|
BB- |
|
1,457,465 |
|
|
1,378 |
|
United Surgical Partners International, Inc., Term Loan, First Lien |
|
4.250% |
|
4/19/17 |
|
B1 |
|
1,381,201 |
|
|
3,759 |
|
Total Health Care Equipment & Supplies |
|
|
|
|
|
|
|
3,771,888 |
|
|
|
|
Health Care Providers & Services – 2.4% |
|
|
|
|
|
|
|
|
|
|
998 |
|
Acadia Healthcare, Inc., Term Loan B, First Lien |
|
4.250% |
|
2/11/22 |
|
Ba2 |
|
1,008,722 |
|
|
794 |
|
Amsurg Corporation, Term Loan |
|
3.750% |
|
7/16/21 |
|
Ba2 |
|
796,978 |
|
|
1,242 |
|
Community Health Systems, Inc., Term Loan D |
|
4.250% |
|
1/27/21 |
|
BB |
|
1,249,915 |
|
|
1 |
|
Community Health Systems, Inc., Term Loan E |
|
3.486% |
|
1/25/17 |
|
BB |
|
1,123 |
|
|
825 |
|
DaVita HealthCare Partners, Inc., Tranche B, Term Loan |
|
3.500% |
|
6/24/21 |
|
Ba1 |
|
828,095 |
|
|
1,605 |
|
Drumm Investors LLC, Term Loan |
|
6.750% |
|
5/04/18 |
|
B |
|
1,626,839 |
|
|
985 |
|
HCA, Inc., Tranche B4, Term Loan |
|
3.025% |
|
5/01/18 |
|
BBB- |
|
986,693 |
|
|
75 |
|
HCA, Inc., Tranche B5, Term Loan |
|
2.928% |
|
3/31/17 |
|
BBB- |
|
74,897 |
|
|
6,525 |
|
Total Health Care Providers & Services |
|
|
|
|
|
|
|
6,573,262 |
|
|
|
|
Hotels, Restaurants & Leisure – 1.6% |
|
|
|
|
|
|
|
|
|
|
1,542 |
|
Burger King Corporation, Term Loan B, First Lien |
|
4.500% |
|
12/10/21 |
|
B+ |
|
1,559,023 |
|
|
979 |
|
MGM Resorts International, Term Loan B |
|
3.500% |
|
12/20/19 |
|
BB |
|
976,992 |
|
|
1,832 |
|
Seaworld Parks and Entertainment, Inc., Term Loan B2 |
3.000% |
|
5/14/20 |
|
BB |
|
1,790,197 |
| |
|
4,353 |
|
Total Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
4,326,212 |
|
|
|
|
Household Durables – 0.9% |
|
|
|
|
|
|
|
|
|
|
985 |
|
Jarden Corporation, Term Loan B1 |
|
2.928% |
|
9/30/20 |
|
BBB- |
|
992,511 |
|
|
916 |
|
Serta Simmons Holdings LLC, Term Loan |
|
4.250% |
|
10/01/19 |
|
B+ |
|
919,167 |
|
|
635 |
|
Tempur-Pedic International, Inc., New Term Loan B |
3.500% |
|
3/18/20 |
|
BB+ |
|
636,669 |
| |
|
2,536 |
|
Total Household Durables |
|
|
|
|
|
|
|
2,548,347 |
|
|
|
|
Household Products – 0.1% |
|
|
|
|
|
|
|
|
|
|
293 |
|
Spectrum Brands, Inc., Term Loan A |
|
3.000% |
|
9/04/17 |
|
BB |
|
293,117 |
|
|
|
|
Independent Power & Renewable Electricty Producers – 0.4% |
|
|
|
|
| ||||
|
988 |
|
Calpine Corporation, Delayed Term Loan |
|
4.000% |
|
10/31/20 |
|
BB |
|
990,509 |
|
|
|
|
Internet & Catalog Retail – 0.4% |
|
|
|
|
|
|
|
|
|
|
998 |
|
Travelport LLC, Term Loan B, First Lien |
|
5.750% |
|
9/02/21 |
|
B |
|
1,007,849 |
|
|
|
|
Internet Software & Services – 0.3% |
|
|
|
|
|
|
|
|
|
|
833 |
|
Tibco Software, Inc., Term Loan B |
|
6.500% |
|
12/04/20 |
|
B1 |
|
834,761 |
|
|
|
|
IT Services – 0.3% |
|
|
|
|
|
|
|
|
|
|
743 |
|
Vantiv, Inc., Term Loan B |
|
3.750% |
|
6/13/21 |
|
BB+ |
|
747,613 |
|
|
|
|
Leisure Products – 0.5% |
|
|
|
|
|
|
|
|
|
|
1,510 |
|
24 Hour Fitness Worldwide, Inc., Term Loan B |
|
4.750% |
|
5/28/21 |
|
Ba3 |
|
1,507,364 |
|
|
|
|
Machinery – 0.4% |
|
|
|
|
|
|
|
|
|
|
610 |
|
Doosan Infracore International, Inc., Term Loan |
|
4.500% |
|
5/27/21 |
|
BB- |
|
618,014 |
|
|
493 |
|
Rexnord LLC, Term Loan B |
|
4.000% |
|
8/21/20 |
|
BB- |
|
493,291 |
|
|
1,103 |
|
Total Machinery |
|
|
|
|
|
|
|
1,111,305 |
|
|
|
|
Media – 3.6% |
|
|
|
|
|
|
|
|
|
|
982 |
|
Charter Communications Operating Holdings LLC, Term Loan E |
|
3.000% |
|
7/01/20 |
|
Baa3 |
|
980,351 |
|
|
748 |
|
Clear Channel Communications, Inc., Tranche D, Term Loan |
|
6.928% |
|
1/30/19 |
|
CCC+ |
|
713,051 |
|
|
92 |
|
Clear Channel Communications, Inc.,Term Loan E |
|
7.678% |
|
7/30/19 |
|
CCC+ |
|
89,249 |
|
|
1,880 |
|
Cumulus Media, Inc., Term Loan B |
|
4.250% |
|
12/23/20 |
|
B+ |
|
1,851,225 |
|
|
297 |
|
Gray Television, Inc., Initial Term Loan |
|
3.750% |
|
6/13/21 |
|
BB |
|
296,915 |
|
|
639 |
|
Hibu PLC, Pay-In-Kind Term Loan B2, (3) |
|
0.000% |
|
3/03/24 |
|
CCC- |
|
— |
|
|
258 |
|
Hibu PLC, Term Loan A2 |
|
5.270% |
|
3/01/19 |
|
CCC+ |
|
408,440 |
|
|
19 |
|
Hibu PLC, (3) |
|
1.500% |
|
3/03/19 |
|
CCC+ |
|
— |
|
|
496 |
|
Interactive Data Corporation, Term Loan B |
|
4.750% |
|
5/02/21 |
|
B+ |
|
499,274 |
|
|
1,011 |
|
Media General, Inc., Delayed Draw, Term Loan |
|
4.250% |
|
7/31/20 |
|
BB+ |
|
1,015,712 |
|
|
535 |
|
Numericable Group S.A., Term Loan B1 |
|
4.500% |
|
5/21/20 |
|
Ba3 |
|
537,086 |
|
|
463 |
|
Numericable Group S.A., Term Loan B2 |
|
4.500% |
|
5/21/20 |
|
Ba3 |
|
464,653 |
|
|
553 |
|
Springer Science & Business Media, Inc., Term Loan B9, First Lien, WI/DD |
|
TBD |
|
TBD |
|
B2 |
|
552,695 |
|
|
919 |
|
Tribune Company, Term Loan B |
|
4.000% |
|
12/27/20 |
|
BB+ |
|
920,608 |
|
|
1,532 |
|
Univision Communications, Inc., Replacement Term Loan, First Lien |
|
4.000% |
|
3/01/20 |
|
B+ |
|
1,531,564 |
|
|
10,424 |
|
Total Media |
|
|
|
|
|
|
|
9,860,823 |
|
|
|
|
Multiline Retail – 0.4% |
|
|
|
|
|
|
|
|
|
|
1,000 |
|
Dollar Tree, Inc., Initial Term Loan B, First Lien |
|
4.250% |
|
3/09/22 |
|
BB+ |
|
1,011,719 |
|
|
163 |
|
Hudson’s Bay Company, Term Loan B, First Lien |
|
4.750% |
|
11/04/20 |
|
BB |
|
163,122 |
|
|
1,163 |
|
Total Multiline Retail |
|
|
|
|
|
|
|
1,174,841 |
|
|
|
|
Oil, Gas & Consumable Fuels – 0.4% |
|
|
|
|
|
|
|
|
|
|
500 |
|
Energy Transfer Equity L.P.,Term Loan, First Lien |
|
3.250% |
|
12/02/19 |
|
BB |
|
494,166 |
|
|
368 |
|
Fieldwood Energy LLC, Term Loan, Second Lien |
|
8.375% |
|
9/30/20 |
|
B2 |
|
270,574 |
|
|
309 |
|
Seadrill Partners LLC, Initial Term Loan |
|
4.000% |
|
2/21/21 |
|
BB- |
|
246,123 |
|
|
181 |
|
Southcross Holdings Borrower L.P., Holdco Term Loan |
6.000% |
|
8/04/21 |
|
B2 |
|
172,931 |
| |
|
1,358 |
|
Total Oil, Gas & Consumable Fuels |
|
|
|
|
|
|
|
1,183,794 |
|
|
|
|
Pharmaceuticals – 2.0% |
|
|
|
|
|
|
|
|
|
|
990 |
|
Grifols, Inc., Term Loan |
|
3.178% |
|
2/27/21 |
|
Ba1 |
|
990,186 |
|
|
890 |
|
Par Pharmaceutical Companies, Inc., Term Loan B2 |
4.000% |
|
9/30/19 |
|
B1 |
|
890,341 |
| |
|
154 |
|
Par Pharmaceutical Companies, Inc., Term Loan B3 |
4.250% |
|
9/30/19 |
|
B1 |
|
154,858 |
| |
|
726 |
|
Quintiles Transnational Corp., Term Loan B3 |
|
3.750% |
|
6/08/18 |
|
BB+ |
|
727,571 |
|
|
1,194 |
|
Valeant Pharmaceuticals International, Inc., Term Loan E |
|
3.500% |
|
8/05/20 |
|
Ba1 |
|
1,195,415 |
|
|
1,697 |
|
Valeant Pharmaceuticals International, Inc., Tranche B, Term Loan D2 |
|
3.500% |
|
2/13/19 |
|
Ba1 |
|
1,698,237 |
|
|
5,651 |
|
Total Pharmaceuticals |
|
|
|
|
|
|
|
5,656,608 |
|
|
|
|
Professional Services – 0.1% |
|
|
|
|
|
|
|
|
|
|
371 |
|
Nielsen Finance LLC, Dollar Term Loan B2 |
|
3.175% |
|
4/15/21 |
|
BBB |
|
372,070 |
|
|
|
|
Real Estate Investment Trust – 0.3% |
|
|
|
|
|
|
|
|
|
|
866 |
|
Walter Investment Management Corporation, Tranche B, Term Loan, First Lien |
|
4.750% |
|
12/18/20 |
|
B+ |
|
797,287 |
|
|
|
|
Real Estate Management & Development – 0.2% |
|
|
|
|
|
|
| ||
|
640 |
|
Capital Automotive LP, Term Loan, Tranche B1 |
|
4.000% |
|
4/10/19 |
|
Ba2 |
|
643,528 |
|
|
|
|
Semiconductors & Semiconductor Equipment – 0.9% |
|
|
|
|
|
|
| ||
|
864 |
|
Avago Technologies, Term Loan B |
|
3.750% |
|
5/06/21 |
|
BBB- |
|
866,378 |
|
|
997 |
|
Freescale Semiconductor, Inc., Term Loan, Tranche B4 |
|
4.250% |
|
2/28/20 |
|
B1 |
|
1,000,859 |
|
|
728 |
|
NXP Semiconductor LLC, Term Loan D |
|
3.250% |
|
1/11/20 |
|
BBB- |
|
726,524 |
|
|
2,589 |
|
Total Semiconductors & Semiconductor Equipment |
|
|
|
|
|
2,593,761 |
| ||
|
|
|
Software – 1.8% |
|
|
|
|
|
|
|
|
|
|
374 |
|
Activision Blizzard, Inc., Term Loan B |
|
3.250% |
|
10/12/20 |
|
BBB |
|
375,852 |
|
|
477 |
|
BMC Software, Inc., Initial Term Loan |
|
5.000% |
|
9/10/20 |
|
B1 |
|
468,360 |
|
|
798 |
|
Datatel Parent Corp, Term Loan B1 |
|
4.000% |
|
7/19/18 |
|
BB- |
|
798,198 |
|
|
961 |
|
Emdeon Business Services LLC, Term Loan B2 |
|
3.750% |
|
11/02/18 |
|
Ba3 |
|
963,760 |
|
|
761 |
|
Infor Global Solutions Intermediate Holdings, Ltd., Term Loan B5 |
|
3.750% |
|
6/03/20 |
|
Ba3 |
|
755,436 |
|
|
485 |
|
SS&C Technologies, Inc./ Sunshine Acquisition II, Inc. 2013 Replacement Term Loan B1 |
|
3.250% |
|
6/07/19 |
|
BBB- |
|
486,800 |
|
|
50 |
|
SS&C Technologies, Inc./ Sunshine Acquisition II, Inc. 2013 Replacement Term Loan B2 |
|
3.250% |
|
6/07/19 |
|
BBB- |
|
50,359 |
|
|
1,096 |
|
Zebra Technologies Corporation, First Lien Term Loan B |
|
4.750% |
|
10/27/21 |
|
BB+ |
|
1,110,615 |
|
|
5,002 |
|
Total Software |
|
|
|
|
|
|
|
5,009,380 |
|
|
|
|
Specialty Retail – 1.2% |
|
|
|
|
|
|
|
|
|
|
584 |
|
Burlington Coat Factory Warehouse Corporation, Term Loan B3 |
|
4.250% |
|
8/13/21 |
|
B+ |
|
588,788 |
|
|
1,669 |
|
Jo-Ann Stores, Inc., Term Loan, First Lien |
|
4.000% |
|
3/16/18 |
|
B+ |
|
1,663,219 |
|
|
450 |
|
Petsmart Inc., Term Loan B, First Lien |
|
5.000% |
|
3/11/22 |
|
BB- |
|
453,836 |
|
|
498 |
|
Pilot Travel Centers LLC, Term Loan B, First Lien |
|
4.250% |
|
9/30/21 |
|
BB |
|
502,476 |
|
|
3,201 |
|
Total Specialty Retail |
|
|
|
|
|
|
|
3,208,319 |
|
|
|
|
Technology, Hardware, Storage & Peripherals – 0.4% |
|
|
|
|
|
|
| ||
|
988 |
|
Dell, Inc., Term Loan B |
|
4.500% |
|
4/29/20 |
|
BBB |
|
994,769 |
|
|
|
|
Trading Companies & Distributors – 0.3% |
|
|
|
|
|
|
|
|
|
|
718 |
|
HD Supply, Inc., Term Loan |
|
4.000% |
|
6/28/18 |
|
B+ |
|
720,626 |
|
|
|
|
Wireless Telecommunication Services – 0.4% |
|
|
|
|
|
|
| ||
|
1,000 |
|
UPC Broadband Holding BV, Term Loan AH |
|
3.250% |
|
6/30/21 |
|
BB- |
|
995,000 |
|
|
$ 88,045 |
|
Total Variable Rate Senior Loan Interests (cost $87,554,243) |
|
|
|
|
|
87,347,832 |
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
Description (1) |
|
Coupon |
|
Maturity |
|
Ratings (6) |
|
Value |
|
|
|
|
CORPORATE BONDS – 0.0% (0.0% of Total Investments) |
|
|
|
|
| ||||
|
|
|
Media – 0.0% |
|
|
|
|
|
|
|
|
|
|
$ 132 |
|
Clear Channel Communications, Inc. |
|
9.000% |
|
12/15/19 |
|
CCC+ |
|
$ 130,680 |
|
|
$ 132 |
|
Total Corporate Bonds (cost $112,853) |
|
|
|
|
|
|
|
130,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
Description (1) |
|
Coupon |
|
Maturity |
|
Ratings (6) |
|
Value |
|
|
|
|
EMERGING MARKETS DEBT AND FOREIGN CORPORATE BONDS – 32.0% (22.3% of Total Investments) |
| ||||||||
|
|
|
Brazil – 0.7% |
|
|
|
|
|
|
|
|
|
|
255 |
|
Banco do Nordeste do Brasil, 144A |
|
3.625% |
|
11/09/15 |
|
BBB- |
|
$ 254,235 |
|
|
875 |
|
Brazil Minas SPE via State of Minas Gerais, Pass Through Notes, 144A |
|
5.333% |
|
2/15/28 |
|
BBB- |
|
835,625 |
|
|
315 |
|
Centrais Eletricas Brasileiras S.A, Reg S |
|
5.750% |
|
10/27/21 |
|
BBB- |
|
272,475 |
|
|
240 |
|
Petrobras Global Finance BV |
|
4.875% |
|
3/17/20 |
|
BBB- |
|
215,520 |
|
|
265 |
|
Petrobras International Finance Company |
|
5.750% |
|
1/20/20 |
|
BBB- |
|
245,809 |
|
|
90 |
|
Petrobras International Finance Company |
|
5.375% |
|
1/27/21 |
|
BBB- |
|
81,644 |
|
|
|
|
Total Brazil |
|
|
|
|
|
|
|
1,905,308 |
|
|
|
|
Argentina – 1.1% |
|
|
|
|
|
|
|
|
|
|
345 |
|
City of Buenos Aires, Argentina, 144A |
|
8.950% |
|
2/19/21 |
|
Caa2 |
|
362,250 |
|
|
130 |
|
City of Buenos Aires, Argentina, 144A |
|
12.500% |
|
4/06/15 |
|
N/R |
|
130,000 |
|
|
100 |
|
Province of Buenos Aires, Reg S |
|
10.875% |
|
1/26/21 |
|
Caa2 |
|
104,750 |
|
|
145 |
|
Republic of Argentina |
|
7.000% |
|
10/03/15 |
|
N/R |
|
140,578 |
|
|
560 |
|
Republic of Argentina |
|
7.000% |
|
4/17/17 |
|
N/R |
|
544,600 |
|
|
897 |
|
Republic of Argentina |
|
8.280% |
|
12/31/33 |
|
N/R |
|
846,607 |
|
|
234 |
EUR |
Republic of Argentina |
|
7.820% |
|
12/31/33 |
|
N/R |
|
237,078 |
|
|
63 |
|
Republic of Argentina |
|
2.500% |
|
12/31/38 |
|
N/R |
|
35,595 |
|
|
681 |
|
YPF Sociedad Anonima, 144A |
|
8.750% |
|
4/04/24 |
|
Caa1 |
|
696,731 |
|
|
|
|
Total Argentina |
|
|
|
|
|
|
|
3,098,189 |
|
|
|
|
Azerbaijan – 0.2% |
|
|
|
|
|
|
|
|
|
|
205 |
|
Azerbaijan State Oil Company, Reg S |
|
4.750% |
|
3/13/23 |
|
BBB- |
|
188,369 |
|
|
465 |
|
Azerbaijan State Oil Company, Reg S |
|
5.450% |
|
2/09/17 |
|
BBB- |
|
473,193 |
|
|
|
|
Total Azerbaijan |
|
|
|
|
|
|
|
661,562 |
|
|
|
|
Brazil – 1.6% |
|
|
|
|
|
|
|
|
|
|
200 |
|
Banco Nacional de Desenvolvimento Economico e Social, Reg S |
|
5.750% |
|
9/26/23 |
|
Baa2 |
|
206,040 |
|
|
815 |
BRL |
Brazil Nota do Tesouro Nacional |
|
10.000% |
|
1/01/21 |
|
BBB+ |
|
232,117 |
|
|
1,397 |
BRL |
Brazil Nota do Tesouro Nacional |
|
6.000% |
|
8/15/50 |
|
BBB+ |
|
1,080,570 |
|
|
600 |
|
Federative Republic of Brazil |
|
6.000% |
|
1/17/17 |
|
Baa2 |
|
642,750 |
|
|
307 |
|
Federative Republic of Brazil |
|
8.000% |
|
1/15/18 |
|
Baa2 |
|
331,200 |
|
|
625 |
|
Federative Republic of Brazil |
|
4.250% |
|
1/07/25 |
|
Baa2 |
|
612,500 |
|
|
640 |
|
Federative Republic of Brazil |
|
8.250% |
|
1/20/34 |
|
Baa2 |
|
828,800 |
|
|
480 |
|
Federative Republic of Brazil |
|
5.000% |
|
1/27/45 |
|
Baa2 |
|
444,000 |
|
|
|
|
Total Brazil |
|
|
|
|
|
|
|
4,377,977 |
|
|
|
|
Bulgaria – 0.2% |
|
|
|
|
|
|
|
|
|
|
405 |
EUR |
Republic of Bulgaria |
|
2.950% |
|
9/03/24 |
|
Baa2 |
|
457,616 |
|
|
|
|
Chile – 0.7% |
|
|
|
|
|
|
|
|
|
|
225 |
|
Banco del Estado Chile |
|
3.875% |
|
2/08/22 |
|
AA- |
|
231,614 |
|
|
655 |
|
Coporacion Nacional del Cobre de Chile, Reg S |
|
3.875% |
|
11/03/21 |
|
AA- |
|
690,488 |
|
|
195 |
|
E-CL S.A, 144A |
|
5.625% |
|
1/15/21 |
|
BBB |
|
216,252 |
|
|
395 |
|
Empresa Nacional del Petroleo, 144A |
|
4.750% |
|
12/06/21 |
|
A |
|
414,246 |
|
|
225 |
|
Empresa Nacional del Petroleo, Reg S |
|
6.250% |
|
7/08/19 |
|
A |
|
250,648 |
|
|
|
|
Total Chile |
|
|
|
|
|
|
|
1,803,248 |
|
|
|
|
Colombia – 2.2% |
|
|
|
|
|
|
|
|
|
|
708,000 |
COP |
Republic of Colombia |
|
12.000% |
|
10/22/15 |
|
BBB |
|
283,988 |
|
|
587 |
|
Republic of Colombia |
|
11.750% |
|
2/25/20 |
|
BBB |
|
811,528 |
|
|
420,000 |
COP |
Republic of Colombia |
|
7.750% |
|
4/14/21 |
|
BBB |
|
180,437 |
|
|
465 |
|
Republic of Colombia |
|
4.375% |
|
7/12/21 |
|
BBB |
|
492,900 |
|
|
175,000 |
COP |
Republic of Colombia |
|
9.850% |
|
6/28/27 |
|
BBB |
|
87,080 |
|
|
535 |
|
Republic of Colombia |
|
10.375% |
|
1/28/33 |
|
BBB |
|
838,613 |
|
|
1,315 |
|
Republic of Colombia |
|
7.375% |
|
9/18/37 |
|
BBB |
|
1,755,525 |
|
|
635 |
|
Republic of Colombia |
|
5.625% |
|
2/26/44 |
|
BBB |
|
709,613 |
|
|
448 |
|
Republic of Colombia |
|
5.000% |
|
6/15/45 |
|
BBB |
|
460,320 |
|
|
279,572 |
COP |
Titulos de Tesoreria B Bonds |
|
3.500% |
|
3/10/21 |
|
BBB+ |
|
112,068 |
|
|
215,139 |
COP |
Titulos de Tesoreria B Bonds |
|
4.750% |
|
2/23/23 |
|
BBB+ |
|
91,690 |
|
|
556,200 |
COP |
Titulos de Tesoreria B Bonds, WI/DD |
|
6.000% |
|
4/28/28 |
|
BBB+ |
|
185,640 |
|
|
|
|
Total Colombia |
|
|
|
|
|
|
|
6,009,402 |
|
|
|
|
Cote d’Ivoire (Ivory Coast) – 0.7% |
|
|
|
|
|
|
|
|
|
|
950 |
|
Ivory Coast Republic, 144A |
|
5.375% |
|
7/23/24 |
|
B1 |
|
897,750 |
|
|
255 |
|
Ivory Coast Republic, 144A |
|
6.375% |
|
3/03/28 |
|
B1 |
|
255,638 |
|
|
365 |
|
Ivory Coast Republic, Reg S |
|
5.375% |
|
7/23/24 |
|
B1 |
|
344,925 |
|
|
535 |
|
Ivory Coast Republic, Reg S |
|
5.750% |
|
12/31/32 |
|
B |
|
508,293 |
|
|
|
|
Total Cote d’Ivoire (Ivory Coast) |
|
|
|
|
|
|
|
2,006,606 |
|
|
|
|
Croatia – 0.7% |
|
|
|
|
|
|
|
|
|
|
200 |
|
Republic of Croatia, Reg S |
|
6.250% |
|
4/27/17 |
|
Ba1 |
|
212,500 |
|
|
400 |
|
Republic of Croatia, Reg S |
|
5.375% |
|
11/29/19 |
|
Ba1 |
|
443,500 |
|
|
280 |
|
Republic of Croatia, 144A |
|
6.250% |
|
4/27/17 |
|
Ba1 |
|
297,500 |
|
|
130 |
|
Republic of Croatia, 144A |
|
6.625% |
|
7/14/20 |
|
Ba1 |
|
144,138 |
|
|
880 |
|
Republic of Croatia, Reg S |
|
6.625% |
|
7/14/20 |
|
Ba1 |
|
975,700 |
|
|
|
|
Total Croatia |
|
|
|
|
|
|
|
2,073,338 |
|
|
|
|
Dominican Republic – 1.2% |
|
|
|
|
|
|
|
|
|
|
285 |
|
Dominican Republic, Reg S |
|
7.500% |
|
5/06/21 |
|
B+ |
|
318,630 |
|
|
335 |
|
Dominican Republic, 144A |
|
6.600% |
|
1/28/24 |
|
B+ |
|
364,313 |
|
|
950 |
|
Dominican Republic, 144A |
|
5.500% |
|
1/27/25 |
|
B+ |
|
980,875 |
|
|
500 |
|
Dominican Republic, 144A |
|
7.450% |
|
4/30/44 |
|
B+ |
|
563,750 |
|
|
665 |
|
Dominican Republic, 144A |
|
6.850% |
|
1/27/45 |
|
B+ |
|
698,250 |
|
|
121 |
|
Dominican Republic, Reg S |
|
9.040% |
|
1/23/18 |
|
B+ |
|
130,723 |
|
|
165 |
|
Dominican Republic, Reg S |
|
5.875% |
|
4/18/24 |
|
B+ |
|
172,838 |
|
|
100 |
|
Dominican Republic, Reg S |
|
7.450% |
|
4/30/44 |
|
B+ |
|
112,750 |
|
|
|
|
Total Dominican Republic |
|
|
|
|
|
|
|
3,342,129 |
|
|
|
|
Ecuador – 0.0% |
|
|
|
|
|
|
|
|
|
|
140 |
|
Republic of Ecuador, Reg S |
|
9.375% |
|
12/15/15 |
|
CCC+ |
|
141,750 |
|
|
|
|
El Salvador – 0.4% |
|
|
|
|
|
|
|
|
|
|
30 |
|
Republic of El Salvador, Reg S |
|
8.250% |
|
4/10/32 |
|
Ba3 |
|
33,975 |
|
|
75 |
|
Republic of El Salvador, 144A |
|
6.375% |
|
1/18/27 |
|
Ba3 |
|
75,000 |
|
|
616 |
|
Republic of El Salvador, Reg S |
|
7.750% |
|
1/24/23 |
|
Ba3 |
|
682,990 |
|
|
75 |
|
Republic of El Salvador, Reg S |
|
7.625% |
|
9/21/34 |
|
Ba3 |
|
78,000 |
|
|
120 |
|
Republic of El Salvador, Reg S |
|
7.650% |
|
6/15/35 |
|
Ba3 |
|
125,700 |
|
|
|
|
Total El Salvador |
|
|
|
|
|
|
|
995,665 |
|
|
|
|
Hungary – 1.2% |
|
|
|
|
|
|
|
|
|
|
542 |
|
Republic of Hungary, Government Bond |
|
4.125% |
|
2/19/18 |
|
BB+ |
|
566,607 |
|
|
90 |
EUR |
Republic of Hungary, Government Bond, Reg S |
|
5.750% |
|
6/11/18 |
|
BB+ |
|
110,793 |
|
|
506 |
|
Republic of Hungary, Government Bond |
|
4.000% |
|
3/25/19 |
|
BB+ |
|
527,762 |
|
|
584 |
|
Republic of Hungary, Government Bond |
|
5.375% |
|
2/21/23 |
|
BB+ |
|
652,620 |
|
|
310 |
|
Republic of Hungary, Government Bond |
|
5.750% |
|
11/22/23 |
|
BB+ |
|
356,500 |
|
|
432 |
|
Republic of Hungary, Government Bond |
|
5.375% |
|
3/25/24 |
|
BB+ |
|
484,380 |
|
|
354 |
|
Republic of Hungary, Government Bond |
|
7.625% |
|
3/29/41 |
|
BB+ |
|
511,883 |
|
|
|
|
Total Hungary |
|
|
|
|
|
|
|
3,210,545 |
|
|
|
|
Iceland – 0.6% |
|
|
|
|
|
|
|
|
|
|
231 |
|
Republic of Iceland, 144A |
|
5.875% |
|
5/11/22 |
|
BBB |
|
266,771 |
|
|
485 |
|
Republic of Iceland, Reg S |
|
4.875% |
|
6/16/16 |
|
BBB |
|
504,647 |
|
|
690 |
|
Republic of Iceland, Reg S |
|
5.875% |
|
5/11/22 |
|
BBB |
|
796,849 |
|
|
|
|
Total Iceland |
|
|
|
|
|
|
|
1,568,267 |
|
|
|
|
Indonesia – 2.3% |
|
|
|
|
|
|
|
|
|
|
200 |
|
Perusahaan Listrik Negaraa PT, Reg S |
|
5.500% |
|
11/22/21 |
|
Baa3 |
|
218,250 |
|
|
385 |
|
Republic of Indonesia, 144A |
|
4.125% |
|
1/15/25 |
|
Baa3 |
|
395,106 |
|
|
710 |
|
Republic of Indonesia, Reg S |
|
11.625% |
|
3/04/19 |
|
Baa3 |
|
946,075 |
|
|
450 |
|
Republic of Indonesia, Reg S |
|
4.875% |
|
5/05/21 |
|
Baa3 |
|
489,938 |
|
|
1,230 |
|
Republic of Indonesia, Reg S |
|
8.500% |
|
10/12/35 |
|
Baa3 |
|
1,775,813 |
|
|
1,610 |
|
Republic of Indonesia, Reg S |
|
6.625% |
|
2/17/37 |
|
Baa3 |
|
1,952,125 |
|
|
425 |
|
Republic of Indonesia, Reg S |
|
7.750% |
|
1/17/38 |
|
Baa3 |
|
580,125 |
|
|
|
|
Total Indonesia |
|
|
|
|
|
|
|
6,357,432 |
|
|
|
|
Ireland – 0.1% |
|
|
|
|
|
|
|
|
|
|
200 |
|
RZD Capital Limited, Russian Railways, Reg S |
|
5.700% |
|
4/05/22 |
|
BBB- |
|
179,000 |
|
|
|
|
Isreal – 0.1% |
|
|
|
|
|
|
|
|
|
|
350 |
|
Israel Electric Corporation Limited, 144A, Reg S |
|
5.000% |
|
11/12/24 |
|
BBB- |
|
362,250 |
|
|
|
|
Jamaica – 0.1% |
|
|
|
|
|
|
|
|
|
|
200 |
|
Jamaica Government |
|
7.625% |
|
7/09/25 |
|
B- |
|
221,750 |
|
|
|
|
Kazakhstan – 1.3% |
|
|
|
|
|
|
|
|
|
|
220 |
|
KazAgro National Management Holding JSC, 144A |
|
4.625% |
|
5/24/23 |
|
BBB |
|
186,573 |
|
|
330 |
|
Kazakhstan Development Bank, Reg S |
|
6.500% |
|
6/03/20 |
|
BBB |
|
338,250 |
|
|
200 |
|
Kazakhstan Development Bank, Reg S |
|
5.500% |
|
12/20/15 |
|
BBB |
|
204,000 |
|
|
375 |
|
Kazakhstan Temir Zholy JSC, Reg S |
|
7.000% |
|
5/13/16 |
|
BBB |
|
390,000 |
|
|
225 |
|
Kazakhstan Temir Zholy JSC, Reg S |
|
6.375% |
|
10/06/20 |
|
BBB |
|
223,076 |
|
|
210 |
|
Kazakhstan Temir Zholy JSC, Reg S |
|
6.950% |
|
7/10/42 |
|
BBB |
|
192,192 |
|
|
225 |
|
Kazatomprom, Reg S |
|
6.250% |
|
5/20/15 |
|
Baa3 |
|
224,100 |
|
|
220 |
|
Kazmunaygas National, 144A |
|
6.000% |
|
11/07/44 |
|
BBB |
|
175,835 |
|
|
230 |
|
Republic of Kazakhstan, 144A |
|
3.875% |
|
10/14/24 |
|
BBB+ |
|
212,497 |
|
|
815 |
|
Republic of Kazakhstan, 144A |
|
4.875% |
|
10/14/44 |
|
BBB+ |
|
700,349 |
|
|
1,000 |
|
Republic of Kazakhstan, Reg S |
|
4.875% |
|
10/14/44 |
|
BBB+ |
|
859,324 |
|
|
|
|
Total Kazakhstan |
|
|
|
|
|
|
|
3,706,196 |
|
|
|
|
Kenya – 0.2% |
|
|
|
|
|
|
|
|
|
|
265 |
|
Republic of Kenya, 144A |
|
6.875% |
|
6/24/24 |
|
B+ |
|
276,726 |
|
|
265 |
|
Republic of Kenya, Reg S |
|
5.875% |
|
6/24/19 |
|
B+ |
|
272,751 |
|
|
|
|
Total Kenya |
|
|
|
|
|
|
|
549,477 |
|
|
|
|
Lithuania – 1.4% |
|
|
|
|
|
|
|
|
|
|
175 |
|
Republic of Lithuania, 144A |
|
7.375% |
|
2/11/20 |
|
A- |
|
214,564 |
|
|
145 |
|
Republic of Lithuania, 144A |
|
6.125% |
|
3/09/21 |
|
A- |
|
173,152 |
|
|
670 |
|
Republic of Lithuania, 144A |
|
6.625% |
|
2/01/22 |
|
A- |
|
834,820 |
|
|
955 |
|
Republic of Lithuania, Reg S |
|
7.375% |
|
2/11/20 |
|
A- |
|
1,170,905 |
|
|
1,345 |
|
Republic of Lithuania, Reg S |
|
6.125% |
|
3/09/21 |
|
A- |
|
1,606,132 |
|
|
|
|
Total Lithuania |
|
|
|
|
|
|
|
3,999,573 |
|
|
|
|
Luxembourg – 0.3% |
|
|
|
|
|
|
|
|
|
|
815 |
|
Gaz Capital SA, Reg S |
|
9.250% |
|
4/23/19 |
|
BBB- |
|
875,392 |
|
|
70 |
|
Gaz Capital SA, Reg S |
|
8.625% |
|
4/28/34 |
|
BBB- |
|
74,844 |
|
|
|
|
Total Luxembourg |
|
|
|
|
|
|
|
950,236 |
|
|
|
|
Malaysia – 0.3% |
|
|
|
|
|
|
|
|
|
|
765 |
|
Penerbangan Malaysia Berhad, Reg S |
|
5.625% |
|
3/15/16 |
|
A- |
|
795,305 |
|
|
|
|
Mexico – 2.5% |
|
|
|
|
|
|
|
|
|
|
1,519 |
MXN |
Mexican Udibonds Bonds |
|
4.500% |
|
12/04/25 |
|
A |
|
113,746 |
|
|
993 |
MXN |
Mexican Udibonds Bonds |
|
4.500% |
|
11/22/35 |
|
A |
|
76,599 |
|
|
9,111 |
MXN |
Mexico Bonos de DeSarrollo |
|
10.000% |
|
12/05/24 |
|
A |
|
775,678 |
|
|
390 |
|
Pemex Project Funding Master Trust |
|
6.625% |
|
6/15/35 |
|
A3 |
|
446,550 |
|
|
135 |
|
Petroleos Mexicanos |
|
6.500% |
|
6/02/41 |
|
A3 |
|
152,888 |
|
|
395 |
|
Petroleos Mexicanos |
|
5.500% |
|
6/27/44 |
|
A3 |
|
398,456 |
|
|
665 |
|
Petroleos Mexicanos |
|
6.375% |
|
1/23/45 |
|
A3 |
|
743,470 |
|
|
115 |
|
Petroleos Mexicanos, 144A |
|
5.500% |
|
6/27/44 |
|
A3 |
|
116,006 |
|
|
280 |
|
Petroleos Mexicanos, 144A |
|
5.625% |
|
1/23/46 |
|
A3 |
|
284,200 |
|
|
1,150 |
|
Petroleos Mexicanos, Reg S |
|
5.500% |
|
6/27/44 |
|
A3 |
|
1,160,063 |
|
|
372 |
|
United Mexican States |
|
3.625% |
|
3/15/22 |
|
A3 |
|
386,322 |
|
|
752 |
|
United Mexican States |
|
6.050% |
|
1/11/40 |
|
A3 |
|
928,720 |
|
|
215 |
|
United Mexican States |
|
5.550% |
|
1/21/45 |
|
A3 |
|
252,088 |
|
|
635 |
|
United Mexican States |
|
4.600% |
|
1/23/46 |
|
A3 |
|
649,288 |
|
|
262 |
|
United Mexican States |
|
5.750% |
|
10/12/10 |
|
A3 |
|
285,580 |
|
|
|
|
Total Mexico |
|
|
|
|
|
|
|
6,769,654 |
|
|
|
|
Morocco – 0.6% |
|
|
|
|
|
|
|
|
|
|
235 |
EUR |
Kingdom of Morocco |
|
4.500% |
|
10/05/20 |
|
BBB- |
|
284,737 |
|
|
215 |
|
Kingdom of Morocco, 144A |
|
4.250% |
|
12/11/22 |
|
BBB- |
|
222,525 |
|
|
235 |
|
Kingdom of Morocco, 144A |
|
5.500% |
|
12/11/42 |
|
BBB- |
|
261,506 |
|
|
225 |
|
Kingdom of Morocco, Reg S |
|
4.250% |
|
12/11/22 |
|
BBB- |
|
232,875 |
|
|
345 |
|
Kingdom of Morocco, Reg S |
|
5.500% |
|
12/11/42 |
|
BBB- |
|
383,913 |
|
|
240 |
|
Office Cherifien Des Phosphates SA, Reg S |
|
6.875% |
|
4/25/44 |
|
BBB- |
|
267,300 |
|
|
|
|
Total Morocco |
|
|
|
|
|
|
|
1,652,856 |
|
|
|
|
Nigeria – 0.1% |
|
|
|
|
|
|
|
|
|
|
240 |
|
Nigerian Government International Bond, 144A |
|
5.125% |
|
7/12/18 |
|
BB- |
|
234,348 |
|
|
|
|
Pakistan – 0.2% |
|
|
|
|
|
|
|
|
|
|
275 |
|
Islamic Republic of Pakistan, 144A |
|
7.250% |
|
4/15/19 |
|
B- |
|
282,671 |
|
|
250 |
|
Islamic Republic of Pakistan, 144A |
|
8.250% |
|
4/15/24 |
|
B- |
|
263,488 |
|
|
|
|
Total Pakistan |
|
|
|
|
|
|
|
546,159 |
|
|
|
|
Panama – 0.8% |
|
|
|
|
|
|
|
|
|
|
180 |
|
AES Panama, Reg S |
|
6.350% |
|
12/21/16 |
|
BB+ |
|
186,660 |
|
|
310 |
|
Republic of Panama |
|
3.750% |
|
3/16/25 |
|
BBB |
|
317,750 |
|
|
135 |
|
Republic of Panama |
|
8.875% |
|
9/30/27 |
|
BBB |
|
198,788 |
|
|
920 |
|
Republic of Panama |
|
9.375% |
|
4/01/29 |
|
BBB |
|
1,407,600 |
|
|
|
|
Total Panama |
|
|
|
|
|
|
|
2,110,798 |
|
|
|
|
Paraguay – 0.1% |
|
|
|
|
|
|
|
|
|
|
240 |
|
Republic of Paraguay, Reg S |
|
4.625% |
|
1/25/23 |
|
Ba1 |
|
247,200 |
|
|
|
|
Peru – 0.3% |
|
|
|
|
|
|
|
|
|
|
165 |
|
El Fondo Mivivienda SA, 144A |
|
3.500% |
|
1/31/23 |
|
BBB+ |
|
160,463 |
|
|
1,195 |
PEN |
Republic of Peru, WI/DD |
|
6.950% |
|
8/12/31 |
|
A3 |
|
396,770 |
|
|
125 |
|
Republic of Peru |
|
6.550% |
|
3/14/37 |
|
A3 |
|
166,406 |
|
|
115 |
|
Republic of Peru |
|
5.625% |
|
11/18/50 |
|
A3 |
|
140,588 |
|
|
249 |
PEN |
Republic of Peru Treasury Bond |
|
7.840% |
|
8/12/20 |
|
A- |
|
91,673 |
|
|
|
|
Total Peru |
|
|
|
|
|
|
|
955,900 |
|
|
|
|
Philippines – 0.5% |
|
|
|
|
|
|
|
|
|
|
185 |
|
National Power Corporation |
|
9.625% |
|
5/15/28 |
|
BBB |
|
288,600 |
|
|
195 |
|
Republic of the Philippines |
|
10.625% |
|
3/16/25 |
|
BBB |
|
317,363 |
|
|
200 |
|
Republic of the Philippines |
|
5.500% |
|
3/30/26 |
|
BBB |
|
245,250 |
|
|
245 |
|
Republic of the Philippines |
|
9.500% |
|
2/02/30 |
|
BBB |
|
411,600 |
|
|
|
|
Total Philippines |
|
|
|
|
|
|
|
1,262,813 |
|
|
|
|
Romania – 1.6% |
|
|
|
|
|
|
|
|
|
|
315 |
EUR |
Republic of Romania, Reg S |
|
4.875% |
|
11/07/19 |
|
BBB- |
|
396,588 |
|
|
405 |
EUR |
Republic of Romania, Reg S |
|
4.625% |
|
9/18/20 |
|
BBB- |
|
509,442 |
|
|
390 |
|
Republic of Romania, 144A |
|
6.750% |
|
2/07/22 |
|
BBB- |
|
471,900 |
|
|
706 |
|
Republic of Romania, Reg S |
|
6.750% |
|
2/07/22 |
|
BBB- |
|
854,260 |
|
|
1,336 |
|
Republic of Romania, Reg S |
|
4.375% |
|
8/22/23 |
|
BBB- |
|
1,429,520 |
|
|
502 |
|
Republic of Romania, Reg S |
|
6.125% |
|
1/22/44 |
|
BBB- |
|
638,393 |
|
|
|
|
Total Romania |
|
|
|
|
|
|
|
4,300,103 |
|
|
|
|
Russian Federation – 0.8% |
|
|
|
|
|
|
|
|
|
|
600 |
|
Russian Federation, Reg S |
|
3.625% |
|
4/29/15 |
|
BBB- |
|
600,000 |
|
|
800 |
|
Russian Federation, Reg S |
|
5.000% |
|
4/29/20 |
|
BBB- |
|
801,000 |
|
|
600 |
|
Russian Federation, Reg S |
|
4.875% |
|
9/16/23 |
|
BBB- |
|
577,320 |
|
|
205 |
|
Russian Ministry of Finance, Reg S |
|
12.750% |
|
6/24/28 |
|
BBB- |
|
315,872 |
|
|
|
|
Total Russian Federation |
|
|
|
|
|
|
|
2,294,192 |
|
|
|
|
Senegal – 0.4% |
|
|
|
|
|
|
|
|
|
|
400 |
|
Republic of Senegal, Reg S |
|
8.750% |
|
5/13/21 |
|
B+ |
|
446,800 |
|
|
705 |
|
Republic of Senegal, 144A |
|
6.250% |
|
7/30/24 |
|
B+ |
|
686,999 |
|
|
|
|
Total Senegal |
|
|
|
|
|
|
|
1,133,799 |
|
|
|
|
Serbia – 0.5% |
|
|
|
|
|
|
|
|
|
|
895 |
|
Republic of Serbia, Reg S |
|
5.250% |
|
11/21/17 |
|
BB- |
|
927,981 |
|
|
480 |
|
Republic of Serbia, 144A |
|
5.875% |
|
12/03/18 |
|
BB- |
|
508,800 |
|
|
|
|
Total Serbia |
|
|
|
|
|
|
|
1,436,781 |
|
|
|
|
Slovenia – 0.7% |
|
|
|
|
|
|
|
|
|
|
475 |
|
Republic of Slovenia, 144A |
|
5.850% |
|
5/10/23 |
|
A- |
|
561,688 |
|
|
385 |
|
Republic of Slovenia, 144A |
|
5.250% |
|
2/18/24 |
|
A- |
|
441,884 |
|
|
220 |
|
Republic of Slovenia, Reg S |
|
4.750% |
|
5/10/18 |
|
A- |
|
235,699 |
|
|
415 |
|
Republic of Slovenia, Reg S |
|
5.500% |
|
10/26/22 |
|
A- |
|
478,304 |
|
|
200 |
|
Republic of Slovenia, Reg S |
|
5.850% |
|
5/10/23 |
|
A- |
|
236,500 |
|
|
|
|
Total Slovenia |
|
|
|
|
|
|
|
1,954,075 |
|
|
|
|
South Africa – 0.5% |
|
|
|
|
|
|
|
|
|
|
470 |
|
Eskom Holdings Limited, Reg S |
|
6.750% |
|
8/06/23 |
|
BB+ |
|
467,744 |
|
|
5,565 |
ZAR |
Republic of South Africa, WI/DD |
|
7.000% |
|
2/28/31 |
|
BBB+ |
|
409,587 |
|
|
6,110 |
ZAR |
Republic of South Africa |
|
8.750% |
|
2/28/48 |
|
BBB+ |
|
522,995 |
|
|
|
|
Total South Africa |
|
|
|
|
|
|
|
1,400,326 |
|
|
|
|
Spain – 0.1% |
|
|
|
|
|
|
|
|
|
|
215 |
|
BBVA Banco Continental SA, 144A |
|
3.250% |
|
4/08/18 |
|
A- |
|
220,913 |
|
|
|
|
Sri Lanka – 0.6% |
|
|
|
|
|
|
|
|
|
|
720 |
|
Republic of Sri Lanka, 144A |
|
6.000% |
|
1/14/19 |
|
BB- |
|
738,000 |
|
|
290 |
|
Republic of Sri Lanka, 144A |
|
5.875% |
|
7/25/22 |
|
BB- |
|
293,843 |
|
|
175 |
|
Republic of Sri Lanka, Reg S |
|
6.250% |
|
10/04/20 |
|
BB- |
|
180,688 |
|
|
310 |
|
Republic of Sri Lanka, Reg S |
|
6.250% |
|
7/27/21 |
|
BB- |
|
320,463 |
|
|
|
|
Total Sri Lanka |
|
|
|
|
|
|
|
1,532,994 |
|
|
|
|
Tunisia – 0.1% |
|
|
|
|
|
|
|
|
|
|
200 |
|
Banque de Tunisie, Reg S |
|
5.750% |
|
1/30/25 |
|
Ba3 |
|
201,750 |
|
|
|
|
Turkey – 1.8% |
|
|
|
|
|
|
|
|
|
|
775 |
|
Republic of Turkey, Government Bond |
|
7.000% |
|
9/26/16 |
|
Baa3 |
|
836,241 |
|
|
321 |
|
Republic of Turkey, Government Bond |
|
7.500% |
|
7/14/17 |
|
Baa3 |
|
357,145 |
|
|
185 |
|
Republic of Turkey, Government Bond |
|
6.750% |
|
4/03/18 |
|
BBB- |
|
204,865 |
|
|
705 |
|
Republic of Turkey, Government Bond |
|
5.625% |
|
3/30/21 |
|
Baa3 |
|
771,094 |
|
|
200 |
|
Republic of Turkey, Government Bond |
|
5.125% |
|
3/25/22 |
|
Baa3 |
|
213,149 |
|
|
320 |
|
Republic of Turkey, Government Bond |
|
6.250% |
|
9/26/22 |
|
Baa3 |
|
363,999 |
|
|
1,360 |
|
Republic of Turkey, Government Bond |
|
5.750% |
|
3/22/24 |
|
Baa3 |
|
1,512,455 |
|
|
605 |
|
Republic of Turkey, Government Bond |
|
7.375% |
|
2/05/25 |
|
Baa3 |
|
750,683 |
|
|
|
|
Total Turkey |
|
|
|
|
|
|
|
5,009,631 |
|
|
|
|
Ukraine – 0.2% |
|
|
|
|
|
|
|
|
|
|
355 |
|
Republic of Ukraine, 144A |
|
6.250% |
|
6/17/16 |
|
CCC- |
|
141,663 |
|
|
785 |
|
Republic of Ukraine, Reg S |
|
6.580% |
|
11/21/16 |
|
CCC- |
|
311,346 |
|
|
|
|
Total Ukraine |
|
|
|
|
|
|
|
453,009 |
|
|
|
|
Latvia – 0.7% |
|
|
|
|
|
|
|
|
|
|
1,270 |
|
Latvia Republic, Reg S |
|
2.750% |
|
1/12/20 |
|
A- |
|
1,290,840 |
|
|
715 |
|
Latvia Republic, 144A |
|
3.625% |
|
1/12/20 |
|
A- |
|
726,732 |
|
|
|
|
Total Latvia |
|
|
|
|
|
|
|
2,017,572 |
|
|
|
|
Uruguay – 0.9% |
|
|
|
|
|
|
|
|
|
|
2,305 |
|
Republic of Uruguay |
|
5.100% |
|
6/18/50 |
|
Baa2 |
|
2,397,200 |
|
|
|
|
Venezuela – 0.4% |
|
|
|
|
|
|
|
|
|
|
455 |
|
Petroleos de Venezuela S.A, Reg S |
|
6.000% |
|
5/16/24 |
|
CCC |
|
147,328 |
|
|
160 |
|
Petroleos de Venezuela S.A, Reg S |
|
5.375% |
|
4/12/27 |
|
CCC |
|
49,191 |
|
|
1,600 |
|
Petroleos de Venezuela S.A, Reg S |
|
6.000% |
|
11/15/26 |
|
CCC |
|
498,399 |
|
|
565 |
|
Republic of Venezuela |
|
7.650% |
|
4/21/25 |
|
CCC |
|
190,687 |
|
|
45 |
|
Republic of Venezuela, Reg S |
|
7.750% |
|
10/13/19 |
|
CCC |
|
16,199 |
|
|
125 |
|
Republic of Venezuela, Reg S |
|
9.000% |
|
5/07/23 |
|
CCC |
|
44,687 |
|
|
125 |
|
Republic of Venezuela, Reg S |
|
8.250% |
|
10/13/24 |
|
CCC |
|
43,124 |
|
|
555 |
|
Republic of Venezuela, Reg S |
|
9.250% |
|
5/07/28 |
|
CCC |
|
198,412 |
|
|
|
|
Total Venezuela |
|
|
|
|
|
|
|
1,188,027 |
|
|
|
|
Total Emerging Markets Debt and Foreign Corporate Bonds (cost $87,890,699) |
|
|
|
88,092,921 |
| ||||
|
|
|
Total Long-Term Investments (cost $322,804,683) |
|
|
|
378,731,159 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal |
|
Description (1) |
|
Coupon |
|
Maturity |
|
|
|
Value |
|
|
|
|
SHORT-TERM INVESTMENTS - 6.0% (4.2% of Total Investments) |
|
|
|
|
| ||||
|
$ 2,964 |
|
Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/15, repurchase price $2,694,444, collateralized by $2,980,000 U.S. Treasury Notes, 1.625%, due 8/31/19, value $3,024,700 |
|
0.000% |
|
4/01/15 |
|
|
|
$ 2,964,444 |
|
|
3,493 |
|
Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/15, repurchase price $3,493,465, collateralized by $3,430,000 U.S. Treasury Notes, 2.375%, due 8/15/24, value $3,567,200 |
|
0.000% |
|
4/01/15 |
|
|
|
3,493,465 |
|
|
4,803 |
|
Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/15, repurchase price $4,802,816, collateralized by $4,715,000 U.S. Treasury Notes, 2.375%, due 8/15/24, value $4,903,600 |
|
0.000% |
|
4/01/15 |
|
|
|
4,802,816 |
|
|
5,210 |
|
Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/31/15, repurchase price $5,209,870, collateralized by $5,110,000 U.S. Treasury Notes, 2.375%, due 8/15/24, value $5,314,400 |
|
0.000% |
|
4/01/15 |
|
|
|
5,209,870 |
|
|
|
|
Total Short-Term Investments (cost $16,470,595) |
|
|
|
16,470,595 |
| ||||
|
|
|
Total Investments (cost $339,275,278) – 143.5% |
|
|
|
395,201,754 |
| ||||
|
|
|
Borrowings - (42.3)% (11), (12) |
|
|
|
|
|
|
|
(116,500,000 |
) |
|
|
|
Other Assets Less Liabilities - (1.2)% (13) |
|
|
|
|
|
|
|
(3,374,215 |
) |
|
|
|
Net Assets Applicable to Common Shares – 100% |
|
|
|
|
|
$ 275,327,539 |
| ||
Investments in Derivatives as of March 31, 2015
Futures Contracts outstanding:
|
|
|
|
|
|
|
|
|
|
|
Variation |
|
|
|
|
|
|
|
|
Number |
|
|
|
Notional |
|
Margin |
|
Unrealized |
|
|
|
|
Contract |
|
of |
|
Contract |
|
Amount |
|
Receivable/ |
|
Appreciation |
|
|
Description |
|
Position |
|
Contracts |
|
Expiration |
|
at Value |
|
(Payable) |
|
(Depreciation) |
|
|
U.S. Treasury Long Bond |
|
Short |
|
(15 |
) |
6/15 |
|
$ (2,458,125 |
) |
$ (6,094 |
) |
$ (24,998 |
) |
Options Written outstanding:
|
|
|
Number of |
|
|
|
Notional |
|
Expiration |
|
Strike |
|
|
|
|
Option Type |
|
Contracts |
|
Description |
|
Amount (14) |
|
Date |
|
Price |
|
Value |
|
|
Call |
|
(202) |
|
Microchip Technology Incorporated |
|
$ (1,010,000 |
) |
4/18/15 |
|
$ 50 |
|
$ (12,625 |
) |
|
|
|
(202) |
|
Total Options Written (premiums received $25,489) |
|
$ (1,010,000 |
) |
|
|
|
|
$ (12,625 |
) |
Forward Foreign Currency Exchange Contracts outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Appreciation |
|
|
|
|
|
|
Notional Amount |
|
|
|
Notional Amount |
|
Settlement |
|
(Depreciation) |
|
|
Counterparty |
|
Currency Contracts to Deliver |
|
(Local Currency) |
|
In Exchange For Currency |
|
(Local Currency) |
|
Date |
|
(U.S. Dollars) |
|
|
Bank of America |
|
Colombian Peso |
|
484,704,000 |
|
U.S. Dollar |
|
183,854 |
|
6/17/15 |
|
$ (1,000 |
) |
|
BNP Paribas |
|
U.S. Dollar |
|
72,940 |
|
Brazilian Real |
|
215,000 |
|
6/02/15 |
|
(6,740 |
) |
|
JPMorgan |
|
Colombian Peso |
|
538,022,000 |
|
U.S. Dollar |
|
201,676 |
|
6/17/15 |
|
(3,512 |
) |
|
JPMorgan |
|
South Africa Rand |
|
9,490,000 |
|
U.S. Dollar |
|
762,586 |
|
6/17/15 |
|
(10,083 |
) |
|
JPMorgan |
|
South Africa Rand |
|
870,000 |
|
U.S. Dollar |
|
70,528 |
|
6/17/15 |
|
(307 |
) |
|
Morgan Stanley |
|
Brazilian Real |
|
400,000 |
|
U.S. Dollar |
|
120,846 |
|
6/02/15 |
|
(2,316 |
) |
|
Morgan Stanley |
|
Brazilian Real |
|
798,000 |
|
U.S. Dollar |
|
244,583 |
|
6/02/15 |
|
(1,126 |
) |
|
Morgan Stanley |
|
U.S. Dollar |
|
397,125 |
|
Mexico Peso |
|
6,199,000 |
|
6/17/15 |
|
7,323 |
|
|
National Australia Bank |
|
Euro |
|
799,000 |
|
U.S. Dollar |
|
849,409 |
|
6/17/15 |
|
(10,607 |
) |
|
Royal Bank of Canada |
|
Euro |
|
231,000 |
|
U.S. Dollar |
|
252,475 |
|
6/17/15 |
|
3,834 |
|
|
Royal Bank of Canada |
|
U.S. Dollar |
|
397,155 |
|
Mexico Peso |
|
6,198,000 |
|
6/17/15 |
|
7,228 |
|
|
Standard Chartered Bank |
|
Peruvian Nuevo Sol |
|
630,000 |
|
U.S. Dollar |
|
198,238 |
|
6/17/15 |
|
(2,638 |
) |
|
State Street Bank |
|
Peruvian Nuevo Sol |
|
178,000 |
|
U.S. Dollar |
|
56,652 |
|
6/17/15 |
|
(104 |
) |
|
State Street Bank |
|
Peruvian Nuevo Sol |
|
630,000 |
|
U.S. Dollar |
|
199,052 |
|
6/17/15 |
|
(1,824 |
) |
|
UBS AG |
|
Brazilian Real |
|
3,101,000 |
|
U.S. Dollar |
|
1,051,579 |
|
6/02/15 |
|
96,764 |
|
|
UBS AG |
|
Colombian Peso |
|
916,091,000 |
|
U.S. Dollar |
|
347,795 |
|
6/17/15 |
|
(1,579 |
) |
|
UBS AG |
|
Euro |
|
799,000 |
|
U.S. Dollar |
|
845,919 |
|
6/17/15 |
|
(14,097 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 59,216 |
|
Interest Rate Swaps outstanding:
|
|
|
|
|
Fund |
|
|
|
|
|
Fixed Rate |
|
|
|
|
|
Unrealized |
|
|
|
|
Notional |
|
Pay/Receive |
|
|
|
Fixed Rate |
|
Payment |
|
Effective |
|
Termination |
|
Appreciation |
|
|
Counterparty |
|
Amount |
|
Floating Rate |
|
Floating Rate Index |
|
(Annualized) |
|
Frequency |
|
Date (15) |
|
Date |
|
(Depreciation) |
|
|
JPMorgan |
|
$ 30,450,000 |
|
Receive |
|
1-Month USD-LIBOR-BBA |
|
1.462 |
% |
Monthly |
|
12/01/15 |
|
12/01/20 |
|
$ (317,620 |
) |
|
JPMorgan |
|
30,450,000 |
|
Receive |
|
1-Month USD-LIBOR-BBA |
|
1.842 |
|
Monthly |
|
12/01/15 |
|
12/01/22 |
|
(588,067 |
) |
|
|
|
$ 60,900,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ (905,687 |
) |
|
|
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period: |
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
| ||||
|
|
Long-Term Investments: |
|
|
|
|
|
|
|
|
| ||||
|
|
Common Stocks |
|
$ 70,289,462 |
|
$ 18,904,397 |
|
$ – |
* |
$ 89,193,859 |
| ||||
|
|
Real Estate Investment Trust (REIT) Common Stocks |
|
110,465,440 |
|
– |
|
– |
|
110,465,440 |
| ||||
|
|
Convertible Preferred Securities |
|
574,200 |
|
– |
|
– |
|
574,200 |
| ||||
|
|
$25 Par (or similar) Retail Preferred |
|
989,538 |
|
– |
|
– |
|
989,538 |
| ||||
|
|
$1,000 Par (or similar) Institutional Preferred |
|
– |
|
1,936,689 |
|
– |
|
1,936,689 |
| ||||
|
|
Variable Rate Senior Loan Interests |
|
– |
|
87,347,832 |
|
– |
* |
87,347,832 |
| ||||
|
|
Corporate Bonds |
|
– |
|
130,680 |
|
– |
|
130,680 |
| ||||
|
|
Emerging Markets Debt and Foreign Corporate Bonds |
|
– |
|
88,092,921 |
|
– |
|
88,092,921 |
| ||||
|
|
Short-Term Investments: |
|
|
|
|
|
|
|
|
| ||||
|
|
Repurchase Agreements |
|
– |
|
16,470,595 |
|
– |
|
16,470,595 |
| ||||
|
|
Investments in Derivatives: |
|
|
|
|
|
|
|
|
| ||||
|
|
Futures Contracts |
|
(24,998 |
) |
– |
|
– |
|
(24,998 |
) | ||||
|
|
Options Written |
|
(12,625 |
) |
– |
|
– |
|
(12,625 |
) | ||||
|
|
Forward Foreign Currency Exchange Contracts** |
|
– |
|
59,216 |
|
– |
|
59,216 |
| ||||
|
|
Interest Rate Swaps** |
|
– |
|
(905,687 |
) |
– |
|
(905,687 |
) | ||||
|
|
Total |
|
$ 182,281,017 |
|
$ 212,036,643 |
|
$ – |
|
$ 394,317,660 |
| ||||
|
|
* |
Refer to the Fund’s Portfolio of Investments for breakdown of these securities classified as Level 3. Value equals zero as of the end of the reporting period. | ||||||||||||
|
|
** |
Represents net unrealized appreciation (depreciation). | ||||||||||||
|
|
| |||||||||||||
|
|
Income Tax Information | |||||||||||||
|
|
| |||||||||||||
|
|
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to recognition of premium amortization and timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund. | |||||||||||||
|
|
| |||||||||||||
|
|
As of March 31, 2015, the cost of investments (excluding investments in derivatives) was $343,114,143. | |||||||||||||
|
|
| |||||||||||||
|
|
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of March 31, 2015, were as follows: | |||||||||||||
|
|
| |||||||||||||
|
|
Gross unrealized: |
|
|
| ||||||||||
|
|
Appreciation |
|
$ |
62,522,267 |
| |||||||||
|
|
Depreciation |
|
(10,434,656 |
) | ||||||||||
|
|
|
|
|
| ||||||||||
|
|
Net unrealized appreciation (depreciation) of investments |
|
$ |
52,087,611 |
| |||||||||
|
|
|
|
|
|
| |||||||||
|
|
| |||||||||||||
|
|
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. | |||||||||||||
|
|
| |||||||||||||
|
|
(1) |
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |||||||||||
|
|
(2) |
|
Non-income producing; issuer has not declared a dividend within the past twelve months. | |||||||||||
|
|
(3) |
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. | |||||||||||
|
|
(4) |
|
For fair value measurement disclosure purposes, investment classified as Level 2. | |||||||||||
|
|
(5) |
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investment in derivatives. | |||||||||||
|
|
(6) |
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |||||||||||
|
|
(7) |
|
Perpetual security. Maturity date is not applicable. | |||||||||||
|
|
(8) |
|
Senior loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown. | |||||||||||
|
|
(9) |
|
Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period. | |||||||||||
|
|
(10) |
|
Principal Amount (000) denominated in U.S. Dollars, unless otherwise noted. | |||||||||||
|
|
(11) |
|
Borrowings as a percentage of Total Investments is 29.5%. | |||||||||||
|
|
(12) |
|
The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives) in the Portfolio of Investments as collateral for Borrowings. | |||||||||||
|
|
(13) |
|
Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the counter derivatives as well as the exchange-cleared and exchange-traded derivatives, when applicable. Other assets less liabilities also includes the value of options. | |||||||||||
|
|
(14) |
|
For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100. | |||||||||||
|
|
(15) |
|
Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract. | |||||||||||
|
|
N/A |
|
Not applicable | |||||||||||
|
|
144A |
|
Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |||||||||||
|
|
ADR |
|
American Depositary Receipt | |||||||||||
|
|
DD1 |
|
Portion of investment purchased on a delayed delivery basis. | |||||||||||
|
|
Reg S |
|
Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States. | |||||||||||
|
|
REIT |
|
Real Estate Investment Trust | |||||||||||
|
|
TBD |
|
Senior loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, senior loans typically trade without accrued interest and therefore a coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date. | |||||||||||
|
|
WI/DD |
|
Investment, or portion of Investment, purchased on a when-issued or delayed delivery basis. | |||||||||||
|
|
BRL |
|
Brazilian Real | |||||||||||
|
|
COP |
|
Colombian Peso | |||||||||||
|
|
EUR |
|
Euro | |||||||||||
|
|
MXN |
|
Mexican Peso | |||||||||||
|
|
PEN |
|
Peruvian Nuevo Sol | |||||||||||
|
|
ZAR |
|
South African Rand | |||||||||||
|
|
USD-LIBOR-BBA |
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United States Dollar – London Inter-Bank Offered Rate – British Bankers’ Association | |||||||||||
Item 2. Controls and Procedures.
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a. |
The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
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b. |
There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Diversified Dividend and Income Fund
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By (Signature and Title) |
/s/ Kevin J. McCarthy |
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Kevin J. McCarthy |
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Vice President and Secretary |
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Date: May 29, 2015
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By (Signature and Title) |
/s/ Gifford R. Zimmerman |
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Gifford R. Zimmerman |
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Chief Administrative Officer (principal executive officer) |
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Date: May 29, 2015
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By (Signature and Title) |
/s/ Stephen D. Foy |
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Stephen D. Foy |
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Vice President and Controller (principal financial officer) |
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Date: May 29, 2015