| Security | CUSIP | Shares | Traded Market Value | % of Holding ↓ |
| INST CASH MANAGEMENT MMKT | 76628T264 | 29,582,292 | $29,582,292.84 | 6.46% |
| ALLTEL COMM. 05/15/15 | LX082831 | 10,932,192 | $10,380,444.69 | 2.26% |
| ENERGY TRAN. VRN 02/08/12 | LX052283 | 12,250,000 | $9,879,625.00 | 2.15% |
| ENTERPRISE VRN 10/27/14 | LX083049 | 11,000,000 | $9,240,000.00 | 2.01% |
| INSIGHT VRN 10/06/13 | LX048899 | 11,818,181 | $9,218,181.81 | 2.01% |
| EPCO 08/07/12 | LX076171 | 10,000,000 | $9,000,000.00 | 1.96% |
| COMMUNITY HEALTH 07/25/14 | LX070809 | 11,062,819 | $8,933,226.54 | 1.95% |
| QVC, INC. VRN 10/04/11 | LX087589 | 10,000,000 | $8,500,000.00 | 1.85% |
| PETROLEUM GEO 06/29/15 | LX070909 | 10,714,404 | $8,250,091.60 | 1.80% |
| CAPELLA HEALTH 03/02/15 | LX088549 | 8,955,000 | $7,432,650.00 | 1.62% |
| ALLIED WASTE NA 01/15/12 | LX061911 | 7,507,479 | $7,145,543.96 | 1.56% |
| HCA INC VRN 11/06/13 | LX063789 | 8,402,177 | $6,930,284.05 | 1.51% |
| RAINBOW NATL VRN 06/28/13 | LX048191 | 6,761,867 | $6,356,155.06 | 1.38% |
| HARLAN SPRAGUE 07/11/14 | LX072212 | 7,955,796 | $6,285,079.46 | 1.37% |
| TRIBUNE CO. VRN 05/17/09 | LX066295 | 7,898,117 | $6,180,277.04 | 1.34% |
| MEDIACOM LLC 01/31/15 | LX046441 | 8,022,273 | $5,669,099.82 | 1.23% |
| ALLIED WASTE NA 01/15/12 | LX061912 | 5,365,068 | $5,119,186.93 | 1.11% |
| GEORGIA PACIFIC 12/20/12 | LX067292 | 5,348,334 | $4,448,049.49 | 0.97% |
| FAIRPOINT COMM. 04/01/16 | LX089509 | 6,200,000 | $4,309,000.00 | 0.94% |
| NRG ENERGY INC. 02/01/13 | LX081269 | 4,878,031 | $4,257,204.29 | 0.92% |
| MCJUNKIN CORP 01/31/14 | LX094269 | 5,500,000 | $4,125,000.00 | 0.90% |
| GRAY TV VRN 12/31/14 | LX060214 | 8,399,594 | $3,947,809.26 | 0.86% |
| NISKA GAS 05/01/13 | LX044096 | 4,816,582 | $3,925,514.54 | 0.85% |
| HCA INC 11/17/12 | LX063790 | 4,646,824 | $3,911,371.50 | 0.85% |
| ALLTEL COMM. 05/15/15 | LX082829 | 3,984,911 | $3,813,879.54 | 0.83% |
| REGAL CINEMAS 02/26/13 | LX046114 | 4,895,307 | $3,669,424.93 | 0.80% |
| CAPITAL AUTO 12/16/10 | LX040872 | 5,519,462 | $3,656,643.58 | 0.79% |
| ROYALTY PHARMA 04/16/13 | LX065389 | 3,910,226 | $3,395,367.16 | 0.74% |
| INEOS GROUP HOLD 12/14/13 | LX042179 | 5,597,215 | $3,353,683.34 | 0.73% |
| GEORGIA PACIFIC 01/27/11 | LX067293 | 3,661,513 | $3,345,707.70 | 0.73% |
| VULCAN VRN 09/13/11 | LX099009 | 3,919,382 | $3,331,475.24 | 0.72% |
| VANGUARD VRN 09/23/11 | LX039331 | 3,910,894 | $3,324,260.55 | 0.72% |
| MACH GEN 02/22/14 | LX057709 | 3,618,435 | $3,313,437.62 | 0.72% |
| UMBRELLA VRN 09/16/14 | LX057578 | 3,852,500 | $3,300,321.18 | 0.72% |
| CABLEVISION VRN 12/13/13 | LX043156 | 3,792,207 | $3,299,220.78 | 0.72% |
| SORENSON COM VRN 08/01/13 | LX063031 | 3,817,228 | $3,181,011.02 | 0.69% |
| HEALTH MANAGE. 02/28/14 | LX056749 | 4,531,197 | $3,154,846.04 | 0.68% |
| CELANESE 04/02/14 | LX061094 | 3,915,063 | $3,141,838.29 | 0.68% |
| WIDEOPENWEST VRN 06/30/14 | LX078529 | 5,000,000 | $3,025,000.00 | 0.66% |
| HUNTSMAN INTL 08/16/12 | LX072169 | 3,473,003 | $3,023,701.10 | 0.66% |
| CINEMARK 10/04/13 | LX063471 | 3,952,581 | $2,992,420.42 | 0.65% |
| LIVE NATION VRN 06/21/13 | LX051332 | 3,826,076 | $2,984,340.00 | 0.65% |
| BOMBARDIER 06/28/13 | LX045713 | 4,379,746 | $2,956,329.11 | 0.64% |
| ASURION CORP VRN 07/03/14 | LX071250 | 3,900,000 | $2,878,707.00 | 0.62% |
| COLUMBIAN CHEM 02/11/13 | LX042709 | 4,374,156 | $2,843,201.94 | 0.62% |
| WRIGLEY VRN 08/15/14 | LX098413 | 3,000,000 | $2,840,640.00 | 0.62% |
| CB RICHARD VRN 12/20/13 | LX076249 | 4,833,549 | $2,730,955.28 | 0.59% |
| MERRILL CORP 05/15/11 | LX041132 | 4,376,250 | $2,713,275.00 | 0.59% |
| COVANTA VRN 02/09/14 | LX056289 | 3,249,275 | $2,668,467.10 | 0.58% |
| TALECRIS VRN 12/06/13 | LX051133 | 2,947,500 | $2,534,850.00 | 0.55% |
| ROCKWOOD SPEC. 07/30/12 | LX071373 | 2,984,536 | $2,402,551.54 | 0.52% |
| SANDRIDGE VRN 04/01/14 | 80007PAB5 | 3,000,000 | $2,392,629.00 | 0.52% |
| SPRINTNEXTEL VRN 06/28/10 | 852061AE0 | 3,000,000 | $2,380,827.00 | 0.51% |
| NACCO MATERIALS 02/24/13 | LX043470 | 3,421,250 | $2,360,662.50 | 0.51% |
| LYONDELL CHEM. 12/20/14 | LX092415 | 3,970,025 | $2,335,684.84 | 0.51% |
| CONTECH CONST 01/31/13 | LX042170 | 3,785,402 | $2,309,095.59 | 0.50% |
| QUEBECOR MEDIA 01/17/13 | LX041789 | 2,917,500 | $2,304,825.00 | 0.50% |
| WARNER MUSIC VRN 02/28/11 | LX050181 | 2,838,845 | $2,268,720.33 | 0.49% |
| EAST VALLEY VRN 08/06/14 | LX074689 | 3,000,000 | $2,250,000.00 | 0.49% |
| ACTIVANT SOL 05/01/13 | LX044351 | 3,598,150 | $2,194,871.81 | 0.47% |
| CLARK AM. VRN 04/01/14 | LX073149 | 3,447,475 | $2,190,594.65 | 0.47% |
| ALLTEL CO 10.375 12/01/17 | 02004JAD2 | 2,000,000 | $2,180,000.00 | 0.47% |
| CEQUEL COMM 10/01/13 | LX061550 | 2,942,531 | $2,177,473.41 | 0.47% |
| WENNER MEDIA 09/29/13 | LX048700 | 2,720,000 | $2,176,000.00 | 0.47% |
| BEVERLY 04/07/11 | LX044034 | 2,652,500 | $2,175,050.00 | 0.47% |
| TENASKA 12/15/13 | LX052593 | 2,608,938 | $2,171,941.09 | 0.47% |
| NRG ENERGY INC. 02/01/13 | LX066410 | 2,463,038 | $2,149,567.45 | 0.46% |
| STRATOS GLOBAL 02/13/12 | LX047729 | 2,677,862 | $2,142,290.37 | 0.46% |
| WIND ACQUISITION 11/26/14 | LX039160 | 2,500,000 | $2,100,000.00 | 0.45% |
| DRESSER, INC. 05/04/14 | LX064570 | 2,911,730 | $2,096,446.15 | 0.45% |
| CCM MERGER VRN 07/26/12 | LX038011 | 3,482,141 | $2,089,284.67 | 0.45% |
| VENETIAN MACAO 05/25/13 | LX062110 | 3,263,157 | $2,065,578.95 | 0.45% |
| H3C HOLDINGS 09/28/12 | LX066789 | 2,420,000 | $2,057,000.00 | 0.44% |
| SPORTS AUTHORITY 04/06/13 | LX044241 | 2,932,500 | $2,052,750.00 | 0.44% |
| AM GENERAL VRN 09/30/12 | LX063689 | 3,055,587 | $2,047,243.48 | 0.44% |
| PEACH HLDNGS VRN 11/21/13 | LX050627 | 2,760,123 | $2,028,690.99 | 0.44% |
| COMPASS MINERALS 12/22/12 | LX041056 | 2,410,189 | $2,024,558.89 | 0.44% |
| CANNERY CASINO 05/18/13 | LX065909 | 2,177,165 | $2,013,877.96 | 0.43% |
| SANDRIDGE 8.625 04/01/15 | 80007PAA7 | 3,000,000 | $1,980,000.00 | 0.43% |
| CRC HEALTH CORP 02/06/13 | LX050508 | 2,925,300 | $1,974,577.55 | 0.43% |
| BAKER TANKS 05/08/14 | LX064889 | 3,201,250 | $1,952,762.50 | 0.42% |
| LIVE NATION 06/21/13 | LX051271 | 2,480,618 | $1,934,882.70 | 0.42% |
| JOHN MANEELY VRN 12/06/13 | LX051181 | 2,673,180 | $1,902,422.69 | 0.41% |
| VENETIAN MACAO 05/25/12 | LX062111 | 3,000,000 | $1,899,000.00 | 0.41% |
| ATP OIL & GAS 07/15/14 | LX097249 | 2,539,090 | $1,794,299.37 | 0.39% |
| RISKMETRICS VRN 01/11/14 | LX053654 | 2,000,000 | $1,760,000.00 | 0.38% |
| CEDAR FAIR VRN 08/30/12 | LX098071 | 2,395,001 | $1,724,401.23 | 0.37% |
| WINDSTREAM CORP 07/17/13 | LX057909 | 1,979,949 | $1,712,656.65 | 0.37% |
| VIRGIN MEDIA 09/03/12 | LX046211 | 2,410,598 | $1,711,524.83 | 0.37% |
| NIELSEN VRN 08/09/13 | LX055066 | 2,356,785 | $1,679,209.44 | 0.36% |
| CANNERY CASINO 05/18/13 | LX065913 | 1,795,275 | $1,660,629.91 | 0.36% |
| ALPHA NATURAL 10/26/12 | LX039852 | 1,838,792 | $1,654,913.19 | 0.36% |
| HEXION SPECIALTY 05/05/13 | LX089110 | 2,376,383 | $1,642,081.23 | 0.35% |
| AXCAN INT HLDGS 02/18/14 | LX088589 | 1,950,000 | $1,638,000.00 | 0.35% |
| SEDGWICK VRN 01/31/13 | LX048151 | 1,897,285 | $1,612,692.57 | 0.35% |
| BNY CONVEGEX VRN 10/02/13 | LX047631 | 2,000,000 | $1,580,000.00 | 0.34% |
| WESTCORP VRN 10/23/13 | LX068330 | 2,420,339 | $1,565,160.63 | 0.34% |
| R.H. DONNELLEY 06/30/11 | LX050182 | 2,448,271 | $1,563,833.13 | 0.34% |
| TARGA RESOURCES 10/31/12 | LX039943 | 2,047,235 | $1,545,662.85 | 0.33% |
| ALON REFINING 07/03/14 | LX097569 | 1,750,000 | $1,540,000.00 | 0.33% |
| METRO-GOLDWYN 04/08/12 | LX059929 | 3,250,500 | $1,530,985.50 | 0.33% |
| SORENSON VRN 02/01/14 | LX047077 | 1,828,036 | $1,517,270.61 | 0.33% |
| MATTAMY GROUP 04/11/13 | LX097769 | 1,955,000 | $1,515,125.00 | 0.33% |
| KERZNER VRN 08/31/13 | LX047893 | 2,285,714 | $1,485,714.29 | 0.32% |
| MACDERMID HOLD 04/11/14 | LX061629 | 2,213,383 | $1,482,966.95 | 0.32% |
| USPF HOLDINGS 04/11/14 | LX062070 | 1,850,878 | $1,480,703.09 | 0.32% |
| CATALINA MARKET 10/01/14 | LX080569 | 1,972,518 | $1,459,663.98 | 0.31% |
| NATIONAL MENTOR 06/28/13 | LX068775 | 1,847,475 | $1,441,030.50 | 0.31% |
| HAWKER BEECH. 04/02/14 | LX060769 | 2,270,390 | $1,434,137.29 | 0.31% |
| ALLTEL COMM. 05/15/15 | LX082830 | 1,500,000 | $1,424,070.00 | 0.31% |
| ZUFFA, INC VRN 06/21/15 | LX069817 | 1,975,000 | $1,422,000.00 | 0.31% |
| VOLNAY VRN 01/12/14 | LX053550 | 1,765,000 | $1,414,206.25 | 0.30% |
| MCC IOWA 01/31/15 | LX077949 | 1,965,000 | $1,395,150.00 | 0.30% |
| MGM VRN 04/08/12 | LX057289 | 2,942,178 | $1,385,766.14 | 0.30% |
| GETTY IMAGES INC 07/02/15 | LX097589 | 1,500,000 | $1,349,070.00 | 0.29% |
| COVANTA VRN 02/09/14 | LX075729 | 1,624,003 | $1,333,712.56 | 0.29% |
| BAUSCH & LOMB 04/22/15 | LX080309 | 1,594,377 | $1,283,473.90 | 0.28% |
| VENETIAN MAC VRN 05/26/13 | LX062109 | 2,000,000 | $1,266,000.00 | 0.27% |
| XM SATELLITE 13% 08/01/13 | 98375NAA8 | 3,250,000 | $1,235,000.00 | 0.26% |
| VALASSIS VRN 03/02/14 | LX058809 | 1,799,841 | $1,232,891.39 | 0.26% |
| FONTAINEBLEAU 06/05/14 | LX079189 | 2,666,666 | $1,226,666.67 | 0.26% |
| NETWORK VRN 03/07/14 | LX062434 | 2,167,792 | $1,192,285.77 | 0.26% |
| ISLE OF CAPRI 11/25/13 | LX072449 | 1,742,647 | $1,147,236.92 | 0.25% |
| CARESTREAM 04/30/13 | LX062169 | 1,737,932 | $1,110,104.19 | 0.24% |
| IASIS HEALTHCARE 03/15/14 | LX063456 | 1,374,928 | $1,103,380.07 | 0.24% |
| REYNOLDS VRN 10/23/12 | LX062349 | 1,684,390 | $1,069,587.80 | 0.23% |
| ANCHOR GLASS VRN 06/20/14 | LX096649 | 1,285,714 | $1,067,142.86 | 0.23% |
| CENTAUR LLC VRN 10/30/12 | LX081170 | 1,675,225 | $1,063,768.20 | 0.23% |
| WIND ACQN VRN 12/07/11 | LX051236 | 1,848,772 | $1,053,800.11 | 0.23% |
| TELESAT HOLDINGS 10/16/14 | LX078429 | 1,371,525 | $1,041,673.69 | 0.22% |
| FAIRPOINT 13.125 04/01/18 | 305560AF1 | 1,475,000 | $1,039,875.00 | 0.22% |
| ATP OIL & GAS 07/15/14 | LX097849 | 1,454,545 | $1,027,883.63 | 0.22% |
| BOSTON VRN 12/21/13 | LX053630 | 1,531,344 | $1,026,001.04 | 0.22% |
| SUN HEALTHCARE 04/12/14 | LX062189 | 1,417,965 | $992,575.62 | 0.21% |
| CABLEVISION VRN 04/01/09 | 12686CAU3 | 1,000,000 | $970,000.00 | 0.21% |
| QWEST COMM VRN 02/15/09 | 749121BT5 | 1,000,000 | $965,000.00 | 0.21% |
| EL PASO CO 6.75 05/15/09 | 283905AA5 | 1,000,000 | $963,148.00 | 0.21% |
| INEOS GROUP HOLD 12/14/12 | LX043501 | 1,637,003 | $954,913.15 | 0.20% |
| SLM CORP VRN 01/26/09 | 78442FBU1 | 1,000,000 | $948,158.00 | 0.20% |
| ASTORIA GENERATE 08/13/13 | LX040150 | 1,181,129 | $945,742.39 | 0.20% |
| DIRECTV HLDS VRN 03/01/13 | LX094669 | 997,500 | $904,293.60 | 0.19% |
| TARGA RESOURCES 10/31/12 | LX046875 | 1,169,180 | $882,731.50 | 0.19% |
| DIRECTV HOLDINGS 03/30/10 | LX035992 | 994,858 | $875,197.03 | 0.19% |
| KERZNER VRN 08/31/13 | LX049199 | 1,300,000 | $845,000.00 | 0.18% |
| MYLAN INC VRN 10/02/14 | LX084569 | 977,500 | $834,296.25 | 0.18% |
| DRESSER, INC. 05/04/15 | LX064571 | 1,250,000 | $829,687.50 | 0.18% |
| WIND ACQUISITION 08/04/14 | LX038229 | 1,000,000 | $802,500.00 | 0.17% |
| SOLUTIA, INC. 02/28/14 | LX088330 | 982,525 | $802,231.77 | 0.17% |
| MERRILL CORP VRN 10/01/13 | LX050390 | 2,000,000 | $800,000.00 | 0.17% |
| CW MEDIA VRN 09/21/14 | LX075791 | 990,000 | $792,000.00 | 0.17% |
| DOLLAR VRN 10/30/12 | LX049884 | 1,129,491 | $790,644.04 | 0.17% |
| FIRSTLIGHT VRN 10/19/11 | LX049456 | 1,000,000 | $790,000.00 | 0.17% |
| BLOCK COMMUNICAT 12/19/12 | LX041121 | 992,346 | $783,954.08 | 0.17% |
| WIND ACQUISITION 08/04/14 | LX038230 | 1,000,000 | $780,000.00 | 0.17% |
| QUINTILES TRANS 03/21/13 | LX043649 | 975,000 | $777,562.50 | 0.16% |
| TXU ENERGY 10/10/14 | LX080630 | 984,924 | $771,195.98 | 0.16% |
| LONGVIEW POWER 02/27/14 | LX058330 | 1,166,666 | $758,333.34 | 0.16% |
| IPC INFORMATION 05/31/14 | LX067494 | 1,481,250 | $733,218.75 | 0.16% |
| BIG WEST OIL 05/02/14 | LX064331 | 1,100,000 | $715,000.00 | 0.15% |
| VERSO PAPER VRN 08/03/13 | LX046637 | 892,280 | $704,901.75 | 0.15% |
| INVACARE CORP. 02/12/13 | LX056269 | 815,189 | $688,835.45 | 0.15% |
| PETCO ANIMAL VRN 10/26/13 | LX068449 | 937,614 | $684,458.38 | 0.14% |
| FIRSTLIGHT VRN 10/19/13 | LX049457 | 820,288 | $676,738.01 | 0.14% |
| SEAHAWK ACN. VRN 06/12/14 | LX067130 | 980,357 | $666,642.86 | 0.14% |
| LONGVIEW POWER 02/27/14 | LX058349 | 1,000,000 | $650,000.00 | 0.14% |
| CEQUEL VRN 05/05/14 | LX044413 | 1,000,000 | $640,000.00 | 0.13% |
| LUCITE VRN 07/03/13 | LX070009 | 723,797 | $636,941.97 | 0.13% |
| NISKA GAS 05/01/13 | LX044093 | 778,722 | $634,658.85 | 0.13% |
| SAN JUAN CABLE 10/31/12 | LX039940 | 972,522 | $632,139.82 | 0.13% |
| GREGG APPLIANCES 07/25/13 | LX070912 | 892,500 | $624,750.00 | 0.13% |
| FONTAINEBLEAU 06/05/14 | LX079169 | 1,333,333 | $613,333.34 | 0.13% |
| TXU ENERGY VRN 10/10/14 | LX080635 | 821,463 | $611,990.23 | 0.13% |
| PANAMSAT CORP. 07/03/13 | LX087569 | 728,069 | $602,113.67 | 0.13% |
| PANAMSAT CORP. 07/03/13 | LX087570 | 727,849 | $601,931.69 | 0.13% |
| PANAMSAT CORP. 07/03/13 | LX087571 | 727,849 | $601,931.69 | 0.13% |
| DOLLAR VRN 10/30/12 | LX049885 | 830,508 | $581,355.96 | 0.12% |
| BIG WEST OIL 05/02/14 | LX064329 | 875,000 | $568,750.00 | 0.12% |
| ATLAS PIPLINE 07/27/14 | LX073269 | 706,475 | $565,180.72 | 0.12% |
| NEXT MEDIA OPER 11/04/12 | LX040114 | 809,666 | $553,269.30 | 0.12% |
| CARESTREAM 10/30/13 | LX062171 | 1,000,000 | $550,000.00 | 0.12% |
| HUB INTERNATIONL 06/12/14 | LX068812 | 806,781 | $548,611.12 | 0.11% |
| INEOS GROUP HOLD 12/14/14 | LX042178 | 913,981 | $544,394.86 | 0.11% |
| CANWEST VRN 07/13/14 | LX072029 | 703,859 | $492,701.99 | 0.10% |
| LIFEPOINT HSPTL 04/15/12 | LX036078 | 585,897 | $476,041.94 | 0.10% |
| ISLE OF CAPRI 11/25/13 | LX072450 | 697,058 | $458,894.51 | 0.10% |
| COMMUNITY HEALTH 07/25/14 | LX070810 | 565,849 | $456,923.41 | 0.09% |
| TENASKA VRN 12/15/13 | LX052594 | 548,041 | $456,244.50 | 0.09% |
| NISKA GAS 05/01/13 | LX044389 | 527,498 | $429,911.63 | 0.09% |
| VALASSIS VRN 03/02/14 | LX058813 | 596,845 | $408,838.97 | 0.08% |
| IASIS HEALTHCARE 03/15/14 | LX063455 | 475,755 | $381,793.52 | 0.08% |
| ISLE OF CAPRI 11/25/13 | LX073889 | 525,441 | $361,677.09 | 0.07% |
| HEXION SPECIALTY 05/15/13 | LX089111 | 516,218 | $356,706.78 | 0.07% |
| MACH GEN 02/22/13 | LX066130 | 381,564 | $349,402.38 | 0.07% |
| NISKA GAS 05/01/11 | LX097811 | 353,508 | $288,109.67 | 0.06% |
| NSG HLGS VRN 06/15/14 | LX059777 | 371,591 | $284,267.54 | 0.06% |
| NEXT MEDIA OP 11/04/12 | LX061875 | 359,851 | $245,897.46 | 0.05% |
| BOSTON VRN 12/21/13 | LX052289 | 344,827 | $231,034.49 | 0.05% |
| LUCITE VRN 07/03/13 | LX053110 | 256,297 | $225,542.00 | 0.04% |
| SUN HEALTHCARE 04/12/14 | LX062669 | 321,839 | $225,287.36 | 0.04% |
| LONGVIEW POWER 02/27/14 | LX058329 | 333,333 | $216,666.66 | 0.04% |
| STRATOS GLOBAL 02/13/12 | LX042371 | 264,147 | $211,317.70 | 0.04% |
| TENASKA VRN 12/15/11 | LX052595 | 171,799 | $143,023.35 | 0.03% |
| KERZNER VRN 08/31/13 | LX047892 | 214,285 | $139,285.71 | 0.03% |
| SUN HEALTHCARE 04/19/14 | LX062630 | 194,832 | $136,382.75 | 0.02% |
| BAUSCH & LOMB 04/22/15 | LX080313 | 160,642 | $129,317.28 | 0.02% |
| HUB INTERNATIONL 06/12/15 | LX068813 | 181,336 | $123,308.89 | 0.02% |
| IASIS HEALTHCARE 03/15/14 | LX063454 | 127,186 | $102,066.77 | 0.02% |
| TELESAT HOLDINGS 10/16/14 | LX078450 | 117,795 | $89,465.51 | 0.01% |
| FIRSTLIGHT VRN 10/19/13 | LX050512 | 105,691 | $87,195.12 | 0.01% |
| NATIONAL MENTOR 06/28/13 | LX068779 | 110,000 | $85,800.00 | 0.01% |
| HAWKER BEECH. 04/02/14 | LX060773 | 132,978 | $83,998.67 | 0.01% |
| AM GENERAL VRN 09/30/12 | LX047569 | 123,564 | $83,097.35 | 0.01% |
| BOSTON VRN 12/21/13 | LX052540 | 96,551 | $64,689.65 | 0.01% |
| NSG HOLDINGS VRN 06/15/14 | LX065009 | 51,020 | $42,346.60 | 0.00% |
| LANDSOURCE COM 05/31/09 | LX099069 | 962 | $326.29 | 0.00% |
| TRIPLE CROWN VRN 06/30/10 | LX039989 | 688 | $241.01 | 0.00% |
| TELCORDIA TECH. 03/08/11 | LX034857 | -600,000 | -$600,000.00 | -0.13% |
| MGM MIRAGE VRN 11/22/09 | LX037552 | -878,666 | -$878,666.64 | -0.19% |
| CALPINE CORP. 03/29/09 | LX088029 | -1,512,500 | -$1,512,500.00 | -0.33% |
| BRAND SERVICES 02/07/13 | LX056349 | -7,500,000 | -$7,500,000.00 | -1.63% |
| Total Long Positions | | | $449,982,479.06 | |
| Total Short Positions | | | -$10,491,166.64 | |
| Total Fund Assets | | | $439,491,312.42 | 100.00% |
