MMT MFS Multimarket Income Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-4975

MFS MULTIMARKET INCOME TRUST

(Exact name of registrant as specified in charter)

111 Huntington Avenue, Boston, Massachusetts 02199

(Address of principal executive offices) (Zip code)

Susan S. Newton

Massachusetts Financial Services Company

111 Huntington Avenue

Boston, Massachusetts 02199

(Name and address of agents for service)

Registrant’s telephone number, including area code: (617) 954-5000

Date of fiscal year end: October 31

Date of reporting period: July 31, 2013

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ITEM 1.

SCHEDULE OF INVESTMENTS.

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QUARTERLY REPORT

July 31, 2013

 

 

MFS® MULTIMARKET INCOME TRUST

 

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PORTFOLIO OF INVESTMENTS

7/31/13 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

 

Issuer		Shares/Par				Value ($)
Bonds - 110.8%
Aerospace - 1.4%
BE Aerospace, Inc., 5.25%, 2022		$	500,000			$	515,625
Bombardier, Inc., 4.25%, 2016 (n)			236,000				244,850
Bombardier, Inc., 7.5%, 2018 (n)			1,285,000				1,452,050
Bombardier, Inc., 7.75%, 2020 (n)			680,000				776,900
CPI International, Inc., 8%, 2018			985,000				1,012,088
Heckler & Koch GmbH, 9.5%, 2018 (z)		EUR	504,000				613,571
Huntington Ingalls Industries, Inc., 7.125%, 2021		$	1,600,000				1,760,000
Kratos Defense & Security Solutions, Inc., 10%, 2017			1,670,000				1,803,600
						$	8,178,684
Airlines - 0.0%
Continental Airlines, Inc., 7.25%, 2021		$	166,015			$	189,257
Apparel Manufacturers - 0.8%
Hanesbrands, Inc., 6.375%, 2020		$	845,000			$	926,331
Jones Group, Inc., 6.875%, 2019			1,215,000				1,254,488
PVH Corp., 7.375%, 2020			1,185,000				1,299,056
PVH Corp., 4.5%, 2022			1,220,000				1,192,550
Quiksilver, Inc., 10%, 2020 (z)			75,000				77,438
						$	4,749,863
Asset-Backed & Securitized - 3.1%
Banc of America Commercial Mortgage, Inc., FRN, 5.743%, 2051		$	2,000,000			$	2,249,282
Bayview Financial Acquisition Trust, FRN, 5.483%, 2041			390,269				398,734
Bayview Financial Revolving Mortgage Loan Trust, FRN, 1.786%, 2040 (z)			2,509,952				1,213,214
Citigroup Commercial Mortgage Trust, FRN, 5.696%, 2049			390,312				54,644
Citigroup/Deutsche Bank Commercial Mortgage Trust, FRN, 5.366%, 2049			1,160,000				1,193,273
Crest Ltd., CDO, 7%, 2040 (a)(p)			2,505,979				125,299
Falcon Franchise Loan LLC, FRN, 11.363%, 2025 (i)(z)			589,052				88,358
First Union National Bank Commercial Mortgage Trust, FRN, 1.629%, 2043 (i)(z)			693,724				2,037
First Union-Lehman Brothers Bank of America, FRN, 0.576%, 2035 (i)			7,201,913				143,116
G-Force LLC, CDO, “A2”, 4.83%, 2036 (z)			526,621				527,937
GMAC LLC, FRN, 8.117%, 2034 (d)(n)(q)			1,176,940				765,425
JPMorgan Chase Commercial Mortgage Securities Corp., 5.552%, 2045			1,565,032				1,725,592
JPMorgan Chase Commercial Mortgage Securities Corp., “A4”, FRN, 5.813%, 2049			2,000,000				2,244,354
JPMorgan Chase Commercial Mortgage Securities Corp., “C”, FRN, 6%, 2051			270,000				63,126
JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.475%, 2043			1,526,838				1,666,541
JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.862%, 2045			1,590,000				1,755,104
Lehman Brothers Commercial Conduit Mortgage Trust, FRN, 1.042%, 2030 (i)			1,461,782				28,318
Morgan Stanley Capital I, Inc., FRN, 1.384%, 2039 (i)(z)			3,972,461				84,415
Multi Security Asset Trust, “A3”, CDO, 5%, 2035 (z)			1,047,766				1,037,288
Wachovia Bank Commercial Mortgage Trust, “A4”, FRN, 5.924%, 2051			1,000,000				1,118,052
Wachovia Bank Commercial Mortgage Trust, FRN, 5.118%, 2042			1,375,626				1,466,178
						$	17,950,287
Automotive - 2.8%
Accuride Corp., 9.5%, 2018		$	1,340,000			$	1,388,575
Allison Transmission, Inc., 7.125%, 2019 (n)			1,500,000				1,601,250
Automotores Gildemeister S.A., 8.25%, 2021 (n)			474,000				379,200
Continental Rubber of America Corp., 4.5%, 2019 (n)			275,000				279,604
Delphi Corp., 5%, 2023			855,000				889,200
FCE Bank PLC, 1.875%, 2016		EUR	300,000				403,424

 

1

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Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Automotive - continued
Ford Motor Credit Co. LLC, 12%, 2015		$	146,000			$	171,792
Ford Motor Credit Co. LLC, 1.7%, 2016			1,000,000				990,757
Ford Motor Credit Co. LLC, 8.125%, 2020			405,000				497,948
General Motors Financial Co., Inc., 4.75%, 2017 (n)			620,000				650,225
General Motors Financial Co., Inc., 6.75%, 2018			955,000				1,064,825
General Motors Financial Co., Inc., 4.25%, 2023 (n)			385,000				369,600
Goodyear Tire & Rubber Co., 8.25%, 2020			235,000				262,025
Goodyear Tire & Rubber Co., 6.5%, 2021			855,000				894,544
Goodyear Tire & Rubber Co., 7%, 2022			420,000				446,250
Harley-Davidson Financial Services, 2.7%, 2017 (n)			600,000				607,196
Hyundai Capital America, 4%, 2017 (n)			256,000				267,358
Jaguar Land Rover PLC, 7.75%, 2018 (n)			390,000				425,100
Jaguar Land Rover PLC, 8.125%, 2021 (n)			1,770,000				1,960,275
Jaguar Land Rover PLC, 5.625%, 2023 (n)			470,000				460,600
Lear Corp., 8.125%, 2020			484,000				533,610
Lear Corp., 4.75%, 2023 (n)			290,000				284,200
LKQ Corp., 4.75%, 2023 (n)			150,000				143,813
RCI Banque S.A., 4.375%, 2015		EUR	400,000				554,171
TRW Automotive, Inc., 4.5%, 2021 (n)		$	500,000				497,500
						$	16,023,042
Biotechnology - 0.1%
Life Technologies Corp., 6%, 2020		$	700,000			$	793,440
Broadcasting - 3.7%
Allbritton Communications Co., 8%, 2018		$	480,000			$	519,000
AMC Networks, Inc., 7.75%, 2021			1,074,000				1,202,880
Clear Channel Communications, Inc., 9%, 2021			1,001,000				985,985
Clear Channel Worldwide Holdings, Inc., 6.5%, 2022			245,000				253,575
Clear Channel Worldwide Holdings, Inc., 6.5%, 2022			945,000				987,525
Clear Channel Worldwide Holdings, Inc., “A”, 7.625%, 2020			55,000				57,475
Clear Channel Worldwide Holdings, Inc., “B”, 7.625%, 2020			1,270,000				1,339,850
Globo Comunicacoes e Participacoes S.A., 6.25% to 2015, 9.375% to 2049 (n)			322,000				334,880
Hughes Network Systems LLC, 7.625%, 2021			650,000				703,625
IAC/InterActive Corp., 4.75%, 2022			300,000				283,500
Inmarsat Finance PLC, 7.375%, 2017 (n)			835,000				878,838
Intelsat Jackson Holdings S.A., 6.625%, 2022 (n)			860,000				879,350
Intelsat Jackson Holdings S.A., 6.625%, 2022 (n)			400,000				409,000
Intelsat S.A., 8.125%, 2023 (n)			750,000				806,250
Liberty Media Corp., 8.5%, 2029			1,280,000				1,409,600
Liberty Media Corp., 8.25%, 2030			50,000				54,063
Local TV Finance LLC, 9.25%, 2015 (p)(z)			925,561				939,444
Netflix, Inc., 5.375%, 2021 (n)			500,000				505,000
Nexstar Broadcasting Group, Inc., 8.875%, 2017			410,000				443,825
Nexstar Broadcasting Group, Inc., 6.875%, 2020 (n)			290,000				300,150
SES S.A., 3.6%, 2023 (n)			226,000				213,604
Sinclair Broadcast Group, Inc., 9.25%, 2017 (n)			570,000				604,200
Sinclair Broadcast Group, Inc., 8.375%, 2018			175,000				189,438
SIRIUS XM Radio, Inc., 8.75%, 2015 (n)			1,010,000				1,138,775
SIRIUS XM Radio, Inc., 7.625%, 2018 (n)			1,195,000				1,317,488
SIRIUS XM Radio, Inc., 4.25%, 2020 (n)			230,000				213,900
SIRIUS XM Radio, Inc., 5.75%, 2021 (z)			195,000				195,000
SIRIUS XM Radio, Inc., 5.25%, 2022 (n)			180,000				174,150
Univision Communications, Inc., 6.875%, 2019 (n)			1,035,000				1,104,863

 

2

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Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Broadcasting - continued
Univision Communications, Inc., 7.875%, 2020 (n)		$	745,000			$	817,638
Univision Communications, Inc., 8.5%, 2021 (n)			685,000				753,500
Vivendi S.A., 4%, 2017		EUR	400,000				578,799
WPP Finance, 3.625%, 2022		$	645,000				611,892
						$	21,207,062
Brokerage & Asset Managers - 0.3%
E*TRADE Financial Corp., 6.375%, 2019		$	1,745,000			$	1,854,063
Building - 2.4%
ABC Supply Co., Inc., 5.625%, 2021 (n)		$	190,000			$	189,525
Boise Cascade Co., 6.375%, 2020			640,000				661,600
Building Materials Holding Corp., 6.875%, 2018 (n)			1,150,000				1,224,750
Building Materials Holding Corp., 7%, 2020 (n)			470,000				502,900
Building Materials Holding Corp., 6.75%, 2021 (n)			455,000				486,850
CEMEX Finance LLC, 9.5%, 2016 (n)			1,341,000				1,428,165
CEMEX S.A.B. de C.V., 9%, 2018 (n)			337,000				366,488
CEMEX S.A.B. de C.V., 5.875%, 2019 (n)			202,000				202,000
CEMEX S.A.B. de C.V., FRN, 5.275%, 2015 (n)			552,000				569,250
CRH Finance Ltd., 3.125%, 2023		EUR	300,000				398,430
Gibraltar Industries, Inc., 6.25%, 2021 (n)		$	235,000				240,875
HD Supply, Inc., 8.125%, 2019			525,000				588,000
HD Supply, Inc., 11.5%, 2020			1,205,000				1,429,431
Holcim GB Finance Ltd., 8.75%, 2017		GBP	200,000				373,655
Mohawk Industries, Inc., 3.85%, 2023		$	653,000				629,002
Nortek, Inc., 8.5%, 2021			1,315,000				1,423,488
Odebrecht Finance Ltd., 7.125%, 2042 (n)			419,000				408,525
Roofing Supply Group LLC/Roofing Supply Finance, Inc., 10%, 2020 (n)			613,000				674,300
USG Corp., 6.3%, 2016			1,310,000				1,355,850
USG Corp., 7.875%, 2020 (n)			525,000				581,438
						$	13,734,522
Business Services - 1.2%
Cielo S.A., 3.75%, 2022 (n)		$	362,000			$	316,750
Equinix, Inc., 4.875%, 2020			615,000				608,850
Fidelity National Information Services, Inc., 5%, 2022			870,000				889,575
iGate Corp., 9%, 2016			1,652,000				1,782,095
Iron Mountain, Inc., 8.375%, 2021			1,115,000				1,208,381
Legend Acquisition Sub, Inc., 10.75%, 2020 (n)			670,000				549,400
Neustar, Inc., 4.5%, 2023 (n)			460,000				430,100
SunGard Data Systems, Inc., 7.375%, 2018			470,000				498,200
Tencent Holdings Ltd., 3.375%, 2018 (n)			664,000				670,566
						$	6,953,917
Cable TV - 3.0%
CCO Holdings LLC, 8.125%, 2020		$	1,370,000			$	1,489,875
CCO Holdings LLC, 7.375%, 2020			390,000				420,225
CCO Holdings LLC, 6.5%, 2021			705,000				724,388
CCO Holdings LLC, 5.125%, 2023			410,000				375,150
CCO Holdings LLC/CCO Capital Corp., 5.75%, 2024			415,000				388,025
Cequel Communications Holdings, 6.375%, 2020 (n)			330,000				340,725
Comcast Corp., 4.65%, 2042			700,000				671,512
DIRECTV Holdings LLC, 5.15%, 2042			700,000				631,852
DISH DBS Corp., 6.75%, 2021			890,000				943,400
DISH DBS Corp., 5%, 2023			555,000				520,313

 

3

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Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Cable TV - continued
EchoStar Corp., 7.125%, 2016		$	825,000			$	903,375
Lynx I Corp., 5.375%, 2021 (n)			520,000				526,500
Lynx II Corp., 6.375%, 2023 (n)			340,000				348,925
Midcontinent Express Pipeline LLC, 6.25%, 2021 (z)			75,000				75,375
Myriad International Holdings B.V., 6.375%, 2017			490,000				528,563
Myriad International Holdings B.V., 6.375%, 2017 (n)			355,000				382,939
Myriad International Holdings B.V., 6%, 2020 (z)			1,265,000				1,306,113
Nara Cable Funding Ltd., 8.875%, 2018 (z)			235,000				246,750
Nara Cable Funding Ltd., 8.875%, 2018		EUR	300,000				416,566
Shaw Communications, Inc., 5.65%, 2019		CAD	475,000				515,665
Telenet Finance Luxembourg, 6.375%, 2020 (n)		EUR	450,000				629,788
Time Warner Cable, Inc., 5.75%, 2031		GBP	150,000				212,942
Time Warner Cable, Inc., 4.5%, 2042		$	630,000				486,088
Unitymedia Hessen, 5.5%, 2023 (n)			205,000				199,363
UPC Holding B.V., 9.875%, 2018 (n)			870,000				948,300
UPCB Finance III Ltd., 6.625%, 2020 (n)			1,294,000				1,384,580
Virgin Media Finance PLC, 8.375%, 2019			194,000				210,975
Virgin Media Finance PLC, 5.5%, 2021		GBP	300,000				459,360
Ziggo Bond Co. B.V., 8%, 2018 (n)		EUR	680,000				967,963
						$	17,255,595
Chemicals - 1.9%
Celanese U.S. Holdings LLC, 6.625%, 2018		$	1,265,000			$	1,350,388
CF Industries, Inc., 3.45%, 2023			577,000				547,198
Dow Chemical Co., 8.55%, 2019			800,000				1,029,387
Flash Dutch 2 B.V./U.S. Coatings Acquisition, 7.375%, 2021 (n)			380,000				393,775
Hexion U.S. Finance Corp., 6.625%, 2020 (n)			340,000				347,650
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance, 8.875%, 2018			830,000				863,200
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance, 9%, 2020			490,000				496,125
Huntsman International LLC, 8.625%, 2021			1,545,000				1,741,988
INEOS Finance PLC, 8.375%, 2019 (n)			645,000				707,888
INEOS Group Holdings S.A., 6.125%, 2018 (n)			630,000				614,250
LyondellBasell Industries N.V., 5%, 2019			240,000				265,723
LyondellBasell Industries N.V., 5.75%, 2024			500,000				560,534
NOVA Chemicals Corp., 5.25%, 2023 (z)			435,000				435,000
Polypore International, Inc., 7.5%, 2017			460,000				485,300
Sociedad Quimica y Minera de Chile S.A., 5.5%, 2020 (n)			568,000				597,412
Tronox Finance LLC, 6.375%, 2020 (z)			395,000				378,213
						$	10,814,031
Computer Software - 0.8%
Infor U.S., Inc., 11.5%, 2018		$	730,000			$	841,325
Nuance Communications, Inc., 5.375%, 2020 (n)			290,000				282,750
Syniverse Holdings, Inc., 9.125%, 2019			1,465,000				1,582,200
TransUnion Holding Co., Inc., 9.625%, 2018			455,000				493,675
TransUnion LLC/TransUnion Financing Corp., 11.375%, 2018			760,000				854,050
Verisign, Inc., 4.625%, 2023 (n)			550,000				528,000
						$	4,582,000
Computer Software - Systems - 0.5%
Audatex North America, Inc., 6.75%, 2018		$	765,000			$	816,638
Audatex North America, Inc., 6%, 2021 (z)			335,000				340,863
CDW LLC/CDW Finance Corp., 12.535%, 2017			257,000				271,135
CDW LLC/CDW Finance Corp., 8.5%, 2019			1,145,000				1,256,638
						$	2,685,274

 

4

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Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Conglomerates - 1.8%
Alstom S.A., 2.25%, 2017		EUR	400,000			$	536,025
Amsted Industries, Inc., 8.125%, 2018 (n)		$	1,745,000				1,854,063
BC Mountain LLC, 7%, 2021 (n)			545,000				566,800
Dynacast International LLC, 9.25%, 2019			755,000				826,725
Griffon Corp., 7.125%, 2018			1,415,000				1,489,288
Metalloinvest Finance Ltd., 5.625%, 2020 (n)			708,000				661,980
Renaissance Acquisition, 6.875%, 2021 (z)			800,000				796,000
Rexel S.A., 6.125%, 2019 (n)			585,000				606,938
Rexel S.A., 5.25%, 2020 (n)			250,000				248,750
Siemens Financierings N.V., 5.25%, 2066		EUR	300,000				432,538
Siemens Financierings N.V., 6.125%, 2066		GBP	150,000				249,865
Silver II Borrower, 7.75%, 2020 (n)		$	940,000				984,650
Votorantim Cimentos S.A., 5.25%, 2017		EUR	250,000				355,699
Votorantim Participacoes S.A., 6.75%, 2021 (n)		$	883,000				944,810
						$	10,554,131
Construction - 0.0%
Empresas ICA S.A.B. de C.V., 8.9%, 2021		$	195,000			$	181,350
Consumer Products - 0.9%
Avon Products, Inc., 5%, 2023		$	484,000			$	482,392
Elizabeth Arden, Inc., 7.375%, 2021			935,000				1,009,800
Falabella S.A., 3.75%, 2023 (n)			219,000				199,460
Henkel AG & Co. KGaA, 5.375%, 2104		EUR	300,000				424,049
Jarden Corp., 7.5%, 2020		$	1,335,000				1,433,456
Libbey Glass, Inc., 6.875%, 2020			320,000				342,400
Mattel, Inc., 1.7%, 2018			192,000				188,713
Prestige Brands, Inc., 8.125%, 2020			373,000				411,233
Spectrum Brands Escrow Corp., 6.375%, 2020 (n)			565,000				600,313
Spectrum Brands Escrow Corp., 6.625%, 2022 (n)			90,000				96,300
						$	5,188,116
Consumer Services - 0.7%
QVC, Inc., 7.375%, 2020 (n)		$	620,000			$	676,936
Service Corp. International, 7%, 2017			3,300,000				3,654,750
						$	4,331,686
Containers - 1.8%
Ardagh Packaging Finance PLC, 7.375%, 2017 (n)		$	770,000			$	819,088
Ardagh Packaging Finance PLC, 9.125%, 2020 (n)			200,000				217,000
Ardagh Packaging Finance PLC, 9.125%, 2020 (n)			1,450,000				1,566,000
Ball Corp., 5%, 2022			1,083,000				1,085,708
Ball Corp., 4%, 2023			85,000				77,775
Berry Plastics Group, Inc., 9.5%, 2018			340,000				368,900
Berry Plastics Group, Inc., 9.75%, 2021			460,000				538,200
Crown Americas LLC, 4.5%, 2023 (n)			585,000				545,513
Greif, Inc., 6.75%, 2017			1,515,000				1,674,075
Reynolds Group, 7.125%, 2019			910,000				971,425
Reynolds Group, 9.875%, 2019			375,000				405,000
Reynolds Group, 5.75%, 2020			600,000				610,500
Reynolds Group, 8.25%, 2021			1,735,000				1,765,363
						$	10,644,547
Defense Electronics - 0.4%
BAE Systems PLC, 4.125%, 2022		GBP	350,000			$	546,771
Ducommun, Inc., 9.75%, 2018		$	1,017,000				1,128,870

 

5

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Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Defense Electronics - continued
MOOG, Inc., 7.25%, 2018		$	750,000			$	776,250
						$	2,451,891
Electrical Equipment - 0.1%
Avaya, Inc., 9.75%, 2015		$	355,000			$	347,900
Avaya, Inc., 7%, 2019 (n)			245,000				226,013
						$	573,913
Electronics - 0.7%
Freescale Semiconductor, Inc., 9.25%, 2018 (n)		$	750,000			$	812,813
Nokia Corp., 5.375%, 2019			325,000				316,875
Nokia Corp., 6.625%, 2039			250,000				220,000
NXP B.V., 9.75%, 2018 (n)			100,000				111,500
NXP B.V., 5.75%, 2021 (n)			280,000				287,700
NXP B.V., 5.75%, 2023 (n)			200,000				202,000
Sensata Technologies B.V., 6.5%, 2019 (n)			1,045,000				1,118,150
Tyco Electronics Group S.A., 6.55%, 2017			700,000				809,467
						$	3,878,505
Emerging Market Quasi-Sovereign - 8.9%
Abu Dhabi National Energy Co. PJSC (TAQA), 5.875%, 2021 (n)		$	320,000			$	352,000
Banco de Reservas de La Republica Dominicana, 7%, 2023 (n)			946,000				936,540
Banco do Brasil S.A., 3.875%, 2022			282,000				248,865
Banco do Brasil S.A., 5.875%, 2023 (n)			502,000				484,179
Banco do Estado Rio Grande do Sul S.A., 7.375%, 2022 (n)			412,000				416,635
Banco do Nordeste do Brasil (BNB), 3.625%, 2015 (n)			1,332,000				1,351,980
Banco do Nordeste do Brasil (BNB), 4.375%, 2019 (n)			878,000				839,588
Bank of Ceylon, 6.875%, 2017 (n)			216,000				222,480
BNDES Participacoes S.A., 6.5%, 2019 (n)			607,000				667,700
Caixa Economica Federal, 3.5%, 2022 (n)			216,000				180,360
CNOOC Finance (2012) Ltd., 3.875%, 2022 (n)			230,000				226,663
CNOOC Finance (2013) Ltd., 3%, 2023			389,000				354,162
CNPC (HK) Overseas Capital Ltd., 4.5%, 2021 (n)			1,242,000				1,279,267
CNPC General Capital Ltd., 3.4%, 2023 (n)			391,000				366,774
Comision Federal de Electricidad, 5.75%, 2042 (n)			1,546,000				1,468,700
Corporacion Financiera de Desarrollo S.A., 4.75%, 2022 (n)			346,000				345,135
Corporacion Nacional del Cobre de Chile, 4.25%, 2042 (n)			206,000				171,116
Dolphin Energy Ltd., 5.5%, 2021 (n)			441,000				485,100
Ecopetrol S.A., 7.625%, 2019			821,000				976,990
El Fondo Mivivienda S.A., 3.5%, 2023 (n)			167,000				149,465
Gaz Capital S.A., 3.85%, 2020 (n)			960,000				909,600
Gaz Capital S.A., 3.389%, 2020		EUR	250,000				325,520
Gaz Capital S.A., 5.999%, 2021 (n)		$	1,941,000				2,041,699
Gaz Capital S.A., 4.95%, 2028 (n)			820,000				717,500
Gazprom Neft, 4.375%, 2022 (n)			766,000				708,703
Georgian Oil & Gas Corp., 6.875%, 2017 (n)			317,000				325,718
Instituto Costarricense, 6.375%, 2043 (n)			795,000				719,475
JSC Georgian Railway, 7.75%, 2022 (n)			218,000				238,165
KazAgro National Management Holding, 4.625%, 2023 (n)			382,000				350,485
Kazakhstan Temir Zholy Co., 6.95%, 2042 (n)			316,000				322,320
KazMunaiGaz Finance B.V., 9.125%, 2018 (n)			713,000				868,078
KazMunayGas National Co., 4.4%, 2023 (n)			285,000				263,981
KazMunayGas National Co., 5.75%, 2043 (n)			492,000				432,911
Magyar Export-Import Bank, 5.5%, 2018 (n)			238,000				234,495
Majapahit Holding B.V., 7.25%, 2017 (n)			1,469,000				1,619,573

 

6

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Emerging Market Quasi-Sovereign - continued
Majapahit Holding B.V., 8%, 2019 (n)		$	1,197,000			$	1,358,595
Majapahit Holding B.V., 7.75%, 2020 (n)			1,045,000				1,165,175
OAO Gazprom, 6.212%, 2016			1,886,000				2,054,357
OJSC Russian Agricultural Bank, 5.298%, 2017 (n)			448,000				459,290
OJSC Russian Agricultural Bank, 5.1%, 2018 (z)			346,000				347,168
Pemex Project Funding Master Trust, 5.75%, 2018			1,341,000				1,488,510
Pertamina PT, 5.25%, 2021 (n)			511,000				500,780
Pertamina PT, 4.875%, 2022 (n)			540,000				513,000
Pertamina PT, 4.3%, 2023 (n)			323,000				289,893
Pertamina PT, 6.5%, 2041 (n)			235,000				218,550
Pertamina PT, 6%, 2042 (n)			636,000				548,550
Pertamina PT, 5.625%, 2043 (n)			371,000				304,220
Petrobras Global Finance Co., 4.375%, 2023			464,000				417,885
Petrobras International Finance Co., 7.875%, 2019			1,583,000				1,812,214
Petrobras International Finance Co., 6.75%, 2041			657,000				633,590
Petroleos Mexicanos, 8%, 2019			1,382,000				1,686,040
Petroleos Mexicanos, 6%, 2020			805,000				899,588
Petroleos Mexicanos, 5.5%, 2021			1,360,000				1,465,400
Petroleos Mexicanos, 4.875%, 2022			1,048,000				1,076,820
Petroleos Mexicanos, 4.875%, 2024 (z)			354,000				357,540
Petroleos Mexicanos, 6.5%, 2041			445,000				468,140
Petroleos Mexicanos, 5.5%, 2044			382,000				348,957
Petroleum Co. of Trinidad & Tobago Ltd., 9.75%, 2019 (n)			476,000				595,000
Petroleum Co. of Trinidad & Tobago Ltd., 6%, 2022			489,750				511,789
PT Perusahaan Listrik Negara, 5.5%, 2021 (n)			752,000				744,480
PTT PLC, 3.375%, 2022 (n)			430,000				402,357
PTT PLC, 4.5%, 2042 (n)			462,000				375,956
PTTEP Canada International Finance Ltd., 6.35%, 2042 (n)			250,000				261,739
Qtel International Finance Ltd., 3.875%, 2028 (n)			205,000				183,475
Ras Laffan Liquefied Natural Gas Co. Ltd., 6.75%, 2019 (n)			1,230,000				1,450,785
Rosneft, 3.149%, 2017 (n)			568,000				561,610
Rosneft, 4.199%, 2022 (n)			944,000				870,840
Sberbank of Russia, 6.125%, 2022 (n)			1,439,000				1,528,938
Sinopec Capital (2013) Ltd., 3.125%, 2023 (n)			666,000				600,225
Sinopec Capital (2013) Ltd., 4.25%, 2043 (n)			548,000				461,985
Sinopec Group Overseas Development (2012) Ltd., 3.9%, 2022 (n)			544,000				532,742
Transnet SOC Ltd., 4.5%, 2016 (n)			377,000				389,253
Transnet SOC Ltd., 4%, 2022 (n)			224,000				194,275
Turkiye Ihracat Kredi Bankasi A.S., 5.875%, 2019 (n)			206,000				210,120
Vnesheconombank, 6.025%, 2022 (n)			283,000				297,150
VTB Capital S.A., 6.465%, 2015 (n)			407,000				431,420
VTB Capital S.A., 6%, 2017 (n)			1,176,000				1,231,860
						$	51,852,183
Emerging Market Sovereign - 9.1%
Dominican Republic, 7.5%, 2021 (n)		$	879,000			$	949,320
Dominican Republic, 5.875%, 2024 (n)			206,000				198,790
Government of Ukraine, 6.875%, 2015 (n)			698,000				678,805
Government of Ukraine, 6.875%, 2015			1,094,000				1,063,915
Government of Ukraine, 9.25%, 2017 (n)			320,000				319,590
Republic of Argentina, 2.5% to 2019, 3.75% to 2029, 5.25% to 2038			743,000				245,190
Republic of Argentina, FRN, 8.28%, 2033			1,354,198				795,591
Republic of Colombia, 4.375%, 2021			322,000				333,270
Republic of Colombia, 8.125%, 2024			679,000				894,583
Republic of Colombia, 6.125%, 2041			658,000				720,510

 

7

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Emerging Market Sovereign - continued
Republic of Costa Rica, 4.25%, 2023 (n)		$	205,000			$	193,725
Republic of Croatia, 5.5%, 2023 (n)			412,000				407,880
Republic of Georgia, 6.875%, 2021 (n)			216,000				235,710
Republic of Guatemala, 5.75%, 2022 (n)			387,000				402,480
Republic of Hungary, 5.375%, 2023			674,000				642,828
Republic of Indonesia, 6.875%, 2018			838,000				949,035
Republic of Indonesia, 11.625%, 2019 (n)			872,000				1,194,640
Republic of Indonesia, 11.625%, 2019			733,000				1,004,210
Republic of Indonesia, 4.875%, 2021 (n)			671,000				681,065
Republic of Indonesia, 3.375%, 2023 (n)			517,000				453,668
Republic of Indonesia, 7.75%, 2038 (n)			1,559,000				1,878,595
Republic of Latvia, 5.25%, 2017 (n)			345,000				374,826
Republic of Lithuania, 6.125%, 2021 (n)			499,000				566,365
Republic of Lithuania, 6.625%, 2022 (n)			1,425,000				1,670,813
Republic of Panama, 8.875%, 2027			1,273,000				1,782,200
Republic of Panama, 9.375%, 2029			1,746,000				2,557,890
Republic of Panama, 6.7%, 2036			265,000				312,700
Republic of Paraguay, 4.625%, 2023 (n)			212,000				195,040
Republic of Peru, 7.35%, 2025			544,000				692,240
Republic of Peru, 8.75%, 2033			1,258,000				1,830,390
Republic of Peru, 5.625%, 2050			203,000				207,060
Republic of Philippines, 6.5%, 2020			245,000				291,550
Republic of Philippines, 5.5%, 2026			802,000				908,265
Republic of Philippines, 6.375%, 2032			540,000				632,475
Republic of Philippines, 6.375%, 2034			1,391,000				1,665,723
Republic of Poland, 5%, 2022			609,000				653,153
Republic of Romania, 6.75%, 2022 (n)			1,074,000				1,211,150
Republic of Romania, 4.375%, 2023 (n)			486,000				466,682
Republic of Serbia, 5.25%, 2017 (n)			207,000				203,419
Republic of Serbia, 7.25%, 2021 (n)			228,000				233,176
Republic of Slovakia, 4.375%, 2022 (n)			2,330,000				2,371,474
Republic of Sri Lanka, 6.25%, 2020 (n)			285,000				285,713
Republic of Sri Lanka, 6.25%, 2021 (n)			248,000				248,000
Republic of Sri Lanka, 5.875%, 2022 (n)			208,000				199,680
Republic of Turkey, 7%, 2019			790,000				900,600
Republic of Turkey, 5.625%, 2021			670,000				706,850
Republic of Turkey, 6.25%, 2022			646,000				704,140
Republic of Turkey, 6%, 2041			287,000				276,955
Republic of Venezuela, 5.75%, 2016			3,742,000				3,386,510
Republic of Venezuela, 7.65%, 2025			1,345,000				1,002,025
Republic of Vietnam, 6.75%, 2020			537,000				588,015
Russian Federation, 4.5%, 2022 (n)			600,000				618,000
Russian Federation, 7.5%, 2030			870,160				1,020,263
Russian Federation, 5.625%, 2042 (n)			600,000				619,500
Ukraine Government International, 6.58%, 2016			1,418,000				1,329,375
United Mexican States, 5.625%, 2017			1,364,000				1,520,860
United Mexican States, 5.95%, 2019			268,000				310,210
United Mexican States, 3.625%, 2022			2,850,000				2,821,500
United Mexican States, 8.5%, 2029		MXN	29,290,000				2,686,755
United Mexican States, 5.75%, 2110		$	408,000				381,480
						$	52,676,422
Energy - Independent - 5.3%
Berry Petroleum Corp., 6.75%, 2020		$	205,000			$	212,175
BreitBurn Energy Partners LP, 8.625%, 2020			435,000				463,275

 

8

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Energy - Independent - continued
BreitBurn Energy Partners LP, 7.875%, 2022		$	1,405,000			$	1,415,538
Carrizo Oil & Gas, Inc., 8.625%, 2018			370,000				404,225
Chaparral Energy, Inc., 7.625%, 2022			785,000				802,663
Chesapeake Energy Corp., 6.875%, 2020			805,000				881,475
Concho Resources, Inc., 6.5%, 2022			1,125,000				1,203,750
Concho Resources, Inc., 5.5%, 2023			585,000				583,538
Continental Resources, Inc., 8.25%, 2019			940,000				1,029,300
Continental Resources, Inc., 7.375%, 2020			335,000				371,850
Continental Resources, Inc., 4.5%, 2023			721,000				701,173
Denbury Resources, Inc., 8.25%, 2020			1,395,000				1,534,500
Denbury Resources, Inc., 4.625%, 2023			410,000				375,150
Energy XXI Gulf Coast, Inc., 9.25%, 2017			1,510,000				1,676,100
EP Energy LLC, 9.375%, 2020			1,280,000				1,452,800
EP Energy LLC, 7.75%, 2022			2,095,000				2,304,500
EPL Oil & Gas, Inc., 8.25%, 2018			705,000				743,775
Halcon Resources Corp., 8.875%, 2021			755,000				762,550
Harvest Operations Corp., 6.875%, 2017			1,715,000				1,890,788
Hilcorp Energy I/Hilcorp Finance Co., 8%, 2020 (n)			350,000				379,313
Laredo Petroleum, Inc., 9.5%, 2019			730,000				810,300
LINN Energy LLC, 8.625%, 2020			45,000				46,800
LINN Energy LLC, 7.75%, 2021			972,000				981,720
MEG Energy Corp., 6.5%, 2021 (n)			530,000				540,600
Pioneer Natural Resources Co., 6.65%, 2017			700,000				805,146
QEP Resources, Inc., 6.875%, 2021			2,045,000				2,280,175
Range Resources Corp., 8%, 2019			900,000				972,000
Range Resources Corp., 5%, 2022			720,000				727,200
Rosetta Resources, Inc., 5.625%, 2021			360,000				360,000
Samson Investment Co., 10%, 2020 (n)			1,225,000				1,298,500
SandRidge Energy, Inc., 8.125%, 2022			855,000				867,825
SM Energy Co., 6.5%, 2021			1,295,000				1,372,700
Whiting Petroleum Corp., 6.5%, 2018			710,000				752,600
						$	31,004,004
Energy - Integrated - 0.9%
BG Energy Capital PLC, 6.5%, 2072		EUR	350,000			$	516,880
Eni S.p.A, 4%, 2020		EUR	300,000				436,364
Listrindo Capital B.V., 6.95%, 2019 (n)		$	239,000				252,145
LUKOIL International Finance B.V., 3.416%, 2018 (n)			734,000				723,137
LUKOIL International Finance B.V., 4.563%, 2023 (n)			1,029,000				963,401
Murphy Oil Corp., 2.5%, 2017			700,000				696,257
Pacific Rubiales Energy Corp., 7.25%, 2021 (n)			1,145,000				1,230,875
Pacific Rubiales Energy Corp., 5.125%, 2023 (n)			419,000				395,117
						$	5,214,176
Engineering - Construction - 0.1%
BakerCorp International, Inc., 8.25%, 2019		$	805,000			$	811,038
Entertainment - 0.7%
AMC Entertainment, Inc., 8.75%, 2019		$	480,000			$	519,600
Cedar Fair LP, 9.125%, 2018			575,000				633,938
Cedar Fair LP, 5.25%, 2021 (n)			435,000				425,213
Cinemark USA, Inc., 4.875%, 2023 (n)			580,000				548,100
Cinemark USA, Inc., 5.125%, 2022			215,000				207,206
NAI Entertainment Holdings LLC, 8.25%, 2017 (n)			352,000				382,272
NAI Entertainment Holdings LLC, 5%, 2018 (z)			390,000				395,363

 

9

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Entertainment - continued
Six Flags Entertainment Corp., 5.25%, 2021 (n)		$	1,075,000			$	1,050,813
						$	4,162,505
Financial Institutions - 4.0%
Aviation Capital Group, 4.625%, 2018 (n)		$	685,000			$	687,968
CIT Group, Inc., 5.25%, 2014 (n)			410,000				418,200
CIT Group, Inc., 5.25%, 2018			1,615,000				1,715,938
CIT Group, Inc., 6.625%, 2018 (n)			1,447,000				1,598,935
CIT Group, Inc., 5.5%, 2019 (n)			1,024,000				1,073,920
CIT Group, Inc., 5%, 2022			545,000				540,231
Credit Acceptance Corp., 9.125%, 2017			780,000				832,650
General Electric Capital Corp., 3.1%, 2023			1,488,000				1,398,939
General Electric Capital Corp., 6.375% to 2017, FRN to 2067			300,000				319,500
Icahn Enterprises LP, 7.75%, 2016			205,000				212,944
Icahn Enterprises LP, 8%, 2018			1,830,000				1,932,938
Icahn Enterprises LP, 6%, 2020 (z)			420,000				420,000
International Lease Finance Corp., 4.875%, 2015			455,000				468,650
International Lease Finance Corp., 8.625%, 2015			410,000				454,075
International Lease Finance Corp., 7.125%, 2018 (n)			1,437,000				1,620,218
Nationstar Mortgage LLC/Capital Corp., 10.875%, 2015			1,355,000				1,424,444
Nationstar Mortgage LLC/Capital Corp., 6.5%, 2018			360,000				363,600
Nationstar Mortgage LLC/Capital Corp., 9.625%, 2019			345,000				388,125
Nationstar Mortgage LLC/Capital Corp., 7.875%, 2020			410,000				439,725
PHH Corp., 9.25%, 2016			540,000				610,200
PHH Corp., 7.375%, 2019			630,000				690,638
SLM Corp., 8.45%, 2018			1,065,000				1,224,878
SLM Corp., 8%, 2020			1,795,000				2,001,425
SLM Corp., 7.25%, 2022			745,000				789,700
TMK Capital S.A., 6.75%, 2020 (n)			1,505,000				1,461,731
						$	23,089,572
Food & Beverages - 1.5%
Ajecorp B.V., 6.5%, 2022 (n)		$	413,000			$	422,293
Alicorp S.A.A., 3.875%, 2023 (n)			223,000				205,160
ARAMARK Corp., 5.75%, 2020 (n)			320,000				332,800
B&G Foods, Inc., 4.625%, 2021			460,000				444,475
BFF International Ltd., 7.25%, 2020			600,000				660,000
BRF S.A., 5.875%, 2022 (n)			216,000				219,240
BRF S.A., 3.95%, 2023 (n)			205,000				176,300
Coca-Cola HBC Finance B.V., 4.25%, 2016		EUR	348,000				504,489
Constellation Brands, Inc., 7.25%, 2016		$	615,000				699,563
Constellation Brands, Inc., 3.75%, 2021			150,000				140,250
Constellation Brands, Inc., 4.25%, 2023			305,000				287,463
Cosan Luxembourg S.A., 5%, 2023 (n)			205,000				192,188
Grupo Bimbo S.A.B. de C.V., 4.5%, 2022 (n)			417,000				429,034
Hawk Acquisition Sub, Inc., 4.25%, 2020 (n)			790,000				758,400
Kraft Foods Group, Inc., 2.25%, 2017			700,000				709,496
Marfrig Holding Europe B.V., 9.875%, 2017 (n)			325,000				328,250
Pinnacle Foods Finance LLC, 4.875%, 2021 (z)			150,000				140,625
Sun Merger Sub, Inc., 5.875%, 2021 (z)			340,000				340,850
TreeHouse Foods, Inc., 7.75%, 2018			745,000				793,425
Tyson Foods, Inc., 6.6%, 2016			820,000				925,344
						$	8,709,645

 

10

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Forest & Paper Products - 1.0%
Boise, Inc., 8%, 2020		$	1,100,000			$	1,182,500
Graphic Packaging Holding Co., 7.875%, 2018			615,000				668,813
International Paper Co., 6%, 2041			700,000				766,991
Inversiones CMPC S.A., 4.75%, 2018 (n)			841,000				872,010
Sappi Papier Holding GmbH, 7.75%, 2017 (n)			340,000				357,000
Smurfit Kappa Group PLC, 4.875%, 2018 (n)			475,000				473,813
Smurfit Kappa Group PLC, 7.75%, 2019 (n)		EUR	600,000				871,709
Tembec Industries, Inc., 11.25%, 2018		$	495,000				537,075
						$	5,729,911
Furniture & Appliances - 0.0%
Arcelik A.S., 5%, 2023 (n)		$	215,000			$	190,275
Gaming & Lodging - 2.4%
Caesars Entertainment Operating Co., Inc., 8.5%, 2020		$	400,000			$	372,500
Carnival Corp., 1.2%, 2016			500,000				497,118
Chester Downs & Marina LLC, 9.25%, 2020 (z)			425,000				420,750
Choice Hotels International, Inc., 5.75%, 2022			180,000				189,000
CityCenter Holdings LLC, 10.75%, 2017 (p)			360,000				388,800
Fontainebleau Las Vegas Holdings LLC, 10.25%, 2015 (a)(d)(n)			405,000				253
GWR Operating Partnership LLP, 10.875%, 2017			405,000				453,094
Host Hotels & Resorts, Inc., REIT, 6.75%, 2016			1,120,000				1,135,951
Host Hotels & Resorts, Inc., REIT, 5.25%, 2022			240,000				249,995
Isle of Capri Casinos, Inc., 8.875%, 2020			795,000				834,750
MGM Resorts International, 11.375%, 2018			1,460,000				1,846,900
MGM Resorts International, 6.625%, 2021			430,000				453,650
NCL Corp., 5%, 2018 (n)			350,000				349,125
Peninsula Gaming LLC, 8.375%, 2018 (z)			175,000				189,438
Penn National Gaming, Inc., 8.75%, 2019			780,000				856,050
Pinnacle Entertainment, Inc., 8.75%, 2020			610,000				660,325
Pinnacle Entertainment, Inc., 7.75%, 2022			265,000				277,588
PNK Finance Corp., 6.375%, 2021 (z)			300,000				302,250
Ryman Hospitality Properties, Inc., REIT, 5%, 2021 (n)			330,000				323,400
Seven Seas Cruises S. DE R.L., 9.125%, 2019			1,150,000				1,239,125
Viking Cruises Ltd., 8.5%, 2022 (n)			640,000				705,600
Wyndham Worldwide Corp., 2.5%, 2018			650,000				643,297
Wynn Las Vegas LLC, 7.75%, 2020			1,250,000				1,406,250
						$	13,795,209
Industrial - 0.5%
Dematic S.A., 7.75%, 2020 (z)		$	955,000			$	1,005,138
Hyva Global B.V., 8.625%, 2016 (n)			702,000				637,065
Mueller Water Products, Inc., 8.75%, 2020			613,000				672,001
SPL Logistics Escrow LLC, 8.875%, 2020 (n)			795,000				826,800
						$	3,141,004
Insurance - 1.1%
AIG SunAmerica Global Financing X, 6.9%, 2032 (n)		$	484,000			$	592,196
Allianz AG, FRN, 5.5% to 2014, FRN to 2049		EUR	140,000				187,480
American International Group, Inc., 4.875%, 2067		EUR	600,000				747,131
Assicurazioni Generali S.p.A., 7.75%, 2042		EUR	200,000				289,551
Aviva PLC, FRN, 5.7%, 2049		EUR	400,000				537,461
CNP Assurances S.A., 6%, 2040		EUR	300,000				418,062
Delta Lloyd N.V., 9%, 2042		EUR	450,000				681,362

 

11

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Insurance - continued
MetLife, Inc., 9.25% to 2038, FRN to 2068 (n)		$	1,500,000			$	1,995,000
Unum Group, 7.125%, 2016			829,000				956,629
						$	6,404,872
Insurance - Health - 0.1%
CIGNA Corp., 5.375%, 2042		$	700,000			$	754,312
Insurance - Property & Casualty - 1.2%
Amlin PLC, 6.5%, 2026		GBP	200,000			$	310,335
Clerical Medical Finance PLC, 4.25%, 2049		EUR	500,000				638,568
CNA Financial Corp., 5.875%, 2020		$	700,000				800,279
Liberty Mutual Group, Inc., 10.75% to 2038, FRN to 2088 (n)			615,000				937,875
Mapfre S.A., 5.125%, 2015		EUR	300,000				421,567
QBE Capital Funding III Ltd., FRN, 7.5%, 2041		GBP	300,000				490,513
XL Group PLC, FRN, 6.5% to 2017, FRN to 2049		$	1,825,000				1,793,063
ZFS Finance USA Trust II, 6.45% to 2016, FRN to 2065 (n)			1,310,000				1,395,150
						$	6,787,350
International Market Quasi-Sovereign - 1.4%
Eksportfinans A.S.A., 5.5%, 2016		$	315,000			$	326,025
Eksportfinans A.S.A., 5.5%, 2017			375,000				388,594
Electricite de France, FRN, 5.25%, 2049 (n)			1,550,000				1,482,188
ESB Finance Ltd., 4.375%, 2019		EUR	300,000				434,450
Israel Electric Corp. Ltd., 6.7%, 2017 (n)		$	843,000				899,903
Israel Electric Corp. Ltd., 5.625%, 2018 (n)			2,268,000				2,324,700
Israel Electric Corp. Ltd., 6.875%, 2023 (n)			2,155,000				2,230,425
						$	8,086,285
International Market Sovereign - 1.2%
Commonwealth of Australia, 5.75%, 2021		AUD	924,000			$	955,815
Government of Japan, 1.1%, 2020		JPY	308,000,000				3,271,346
Government of Japan, 2.1%, 2024		JPY	35,750,000				412,022
Republic of Iceland, 4.875%, 2016 (n)		$	1,716,000				1,797,510
Republic of Iceland, 5.875%, 2022 (n)			631,000				654,663
						$	7,091,356
Internet - 0.4%
Baidu, Inc., 3.25%, 2018		$	1,846,000			$	1,849,118
Baidu, Inc., 3.5%, 2022			475,000				433,616
						$	2,282,734
Machinery & Tools - 1.8%
Case New Holland, Inc., 7.875%, 2017		$	1,960,000			$	2,298,100
CNH America LLC, 7.25%, 2016			1,065,000				1,166,175
CNH Capital LLC, 3.875%, 2015			215,000				220,913
CNH Capital LLC, 6.25%, 2016			295,000				322,288
CNH Capital LLC, 3.625%, 2018			630,000				618,975
Ferreycorp S.A.A., 4.875%, 2020 (n)			866,000				816,205
H&E Equipment Services Co., 7%, 2022			1,005,000				1,075,350
NESCO LLC/NESCO Holdings Corp., 11.75%, 2017 (n)			1,410,000				1,572,150
RSC Equipment Rental, Inc., 8.25%, 2021			910,000				1,016,925
United Rentals North America, Inc., 5.75%, 2018			510,000				545,700
United Rentals North America, Inc., 7.625%, 2022			509,000				567,535
						$	10,220,316

 

12

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Major Banks - 3.6%
ABN AMRO North America Finance, Inc., 7.125%, 2022		EUR	250,000			$	382,788
Banco Santander U.S. Debt S.A.U., 3.781%, 2015 (n)		$	1,500,000				1,525,713
Bank of America Corp., 5.65%, 2018			2,000,000				2,248,272
Bank of America Corp., FRN, 5.2%, 2049			1,449,000				1,304,100
Barclays Bank PLC, 6%, 2021		EUR	300,000				447,263
Barclays Bank PLC, 7.625%, 2022		$	815,000				810,925
Barclays Bank PLC, 6.75%, 2023		GBP	200,000				334,799
BBVA Senior Finance S.A., 3.25%, 2016		EUR	300,000				403,880
BNP Paribas, FRN, 3.022%, 2014		$	1,532,000				1,580,820
Credit Agricole S.A., 7.375%, 2023		GBP	200,000				356,074
Credit Agricole S.A., 7.875%, 2049		EUR	300,000				429,038
DBS Bank Ltd., 3.625% to 2017, FRN to 2022 (n)		$	1,055,000				1,072,142
Goldman Sachs Group, Inc., 7.5%, 2019			1,200,000				1,447,955
HBOS PLC, 4.375%, 2019		EUR	300,000				396,571
ING Bank N.V, 4.875%, 2021		EUR	250,000				384,471
JPMorgan Chase & Co., 3.25%, 2022		$	765,000				728,022
Morgan Stanley, 6.625%, 2018			2,000,000				2,306,038
National Westminster Bank PLC, FRN, 2.372%, 2049		EUR	330,000				309,506
Regions Financial Corp., 2%, 2018		$	421,000				405,286
Royal Bank of Scotland Group PLC, 6.934%, 2018		EUR	300,000				415,036
Royal Bank of Scotland Group PLC, 5.5%, 2020		EUR	300,000				460,254
Royal Bank of Scotland Group PLC, 6.99% to 2017, FRN to 2049 (n)		$	435,000				421,950
Royal Bank of Scotland Group PLC, 7.648% to 2031, FRN to 2049			1,635,000				1,553,250
Societe Generale, 4.25%, 2022		EUR	200,000				295,762
Wells Fargo & Co., 2.625%, 2016		$	1,000,000				1,041,227
						$	21,061,142
Medical & Health Technology & Services - 3.3%
AmSurg Corp., 5.625%, 2020		$	690,000			$	703,800
CDRT Holding Corp., 9.25%, 2017 (n)(p)			215,000				219,569
Davita, Inc., 6.375%, 2018			1,600,000				1,696,000
Davita, Inc., 6.625%, 2020			1,050,000				1,120,875
Fresenius Medical Care AG & Co. KGaA, 9%, 2015 (n)			875,000				971,250
Fresenius Medical Care Capital Trust III, 5.625%, 2019 (n)			800,000				847,000
Fresenius Medical Care Capital Trust III, 5.875%, 2022 (n)			430,000				453,650
HCA, Inc., 8.5%, 2019			1,960,000				2,121,700
HCA, Inc., 7.25%, 2020			565,000				617,969
HCA, Inc., 7.5%, 2022			980,000				1,104,950
HCA, Inc., 5.875%, 2022			835,000				883,013
HealthSouth Corp., 8.125%, 2020			1,510,000				1,653,450
IASIS Healthcare LLC/IASIS Capital Corp., 8.375%, 2019			1,110,000				1,165,500
Kinetic Concepts, Inc., 12.5%, 2019			200,000				211,250
Owens & Minor, Inc., 6.35%, 2016			1,420,000				1,538,506
Tenet Healthcare Corp., 9.25%, 2015			580,000				632,200
Tenet Healthcare Corp., 8%, 2020			830,000				881,875
Tenet Healthcare Corp., 4.5%, 2021 (n)			760,000				708,700
Universal Health Services, Inc., 7%, 2018			650,000				686,563
Universal Health Services, Inc., 7.625%, 2020			1,010,000				1,068,075
						$	19,285,895
Medical Equipment - 0.4%
Biomet, Inc., 6.5%, 2020		$	565,000			$	593,250
Physio-Control International, Inc., 9.875%, 2019 (n)			603,000				669,330
Teleflex, Inc., 6.875%, 2019			800,000				848,000
						$	2,110,580

 

13

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Metals & Mining - 3.2%
ArcelorMittal S.A., 7.25%, 2041		$	505,000			$	467,756
Arch Coal, Inc., 7.25%, 2020			1,110,000				899,100
Barrick North America Finance LLC, 5.75%, 2043 (n)			500,000				409,717
Boart Longyear Ltd., 7%, 2021 (z)			175,000				158,375
Cameco Corp., 5.67%, 2019		CAD	475,000				510,245
Century Aluminum Co., 7.5%, 2021 (n)		$	775,000				720,750
Cloud Peak Energy, Inc., 8.25%, 2017			1,815,000				1,914,825
Cloud Peak Energy, Inc., 8.5%, 2019			10,000				10,800
Commercial Metals Co., 4.875%, 2023			360,000				334,800
Consol Energy, Inc., 8%, 2017			755,000				805,019
Consol Energy, Inc., 8.25%, 2020			715,000				770,413
First Quantum Minerals Ltd., 7.25%, 2019 (n)			901,000				878,475
Fortescue Metals Group Ltd., 8.25%, 2019 (n)			820,000				865,100
Glencore Finance (Europe) S.A., 6.5%, 2019		GBP	150,000				259,237
Metinvest B.V., 8.75%, 2018 (n)		$	320,000				308,064
Peabody Energy Corp., 6%, 2018			485,000				495,913
Peabody Energy Corp., 6.25%, 2021			485,000				475,300
Plains Exploration & Production Co., 6.125%, 2019			1,125,000				1,205,054
Plains Exploration & Production Co., 8.625%, 2019			895,000				991,213
Plains Exploration & Production Co., 6.5%, 2020			400,000				430,500
Plains Exploration & Production Co., 6.875%, 2023			1,000,000				1,077,099
Rio Tinto Finance (USA) PLC, 2.25%, 2018			310,000				302,607
Rio Tinto Finance PLC, 2%, 2020		EUR	250,000				329,385
Southern Copper Corp., 5.25%, 2042		$	700,000				556,642
Vale Overseas Ltd., 5.625%, 2019			918,000				995,991
Vale Overseas Ltd., 4.625%, 2020			681,000				678,184
Vale Overseas Ltd., 4.375%, 2022			658,000				623,307
Walter Energy Inc., 8.5%, 2021 (z)			470,000				381,875
Xstrata Finance (Canada) Ltd., 5.25%, 2017		EUR	300,000				442,140
						$	18,297,886
Mortgage-Backed - 1.6%
Fannie Mae, 5.5%, 2037		$	4,113,445			$	4,486,924
Ginnie Mae, 3%, 2043			5,000,000				4,902,319
						$	9,389,243
Municipals - 0.1%
New Jersey Tobacco Settlement Financing Corp., “1-A”, 4.5%, 2023		$	465,000			$	432,380
Natural Gas - Distribution - 0.7%
AmeriGas Finance LLC, 6.75%, 2020		$	1,260,000			$	1,338,750
Ferrellgas LP/Ferrellgas Finance Corp., 6.5%, 2021			845,000				853,450
Gas Natural Fenosa Finance B.V., 3.875%, 2023		EUR	400,000				525,820
GDF Suez, 5%, 2060		GBP	300,000				471,184
ONEOK, Inc., 4.25%, 2022		$	650,000				610,461
						$	3,799,665
Natural Gas - Pipeline - 2.4%
Access Midstream Partners Co., 4.875%, 2023		$	570,000			$	541,500
Atlas Pipeline Partners LP, 4.75%, 2021 (n)			305,000				279,838
Atlas Pipeline Partners LP, 5.875%, 2023 (n)			610,000				582,550
Crosstex Energy, Inc., 8.875%, 2018			1,400,000				1,491,000
El Paso Corp., 7%, 2017			770,000				857,922
El Paso Corp., 7.75%, 2032			2,024,000				2,150,482
El Paso Pipeline Partners LP, 4.7%, 2042			800,000				725,160

 

14

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Natural Gas - Pipeline - continued
Enbridge, Inc., 3.19%, 2022		CAD	500,000			$	462,842
Energy Transfer Equity LP, 7.5%, 2020		$	1,165,000				1,312,081
Energy Transfer Partners LP, 3.6%, 2023			591,000				558,454
Enterprise Products Partners LP, 8.375% to 2016, FRN to 2066			527,000				587,605
Enterprise Products Partners LP, 7.034% to 2018, FRN to 2068			340,000				381,650
Inergy Midstream LP, 6%, 2020 (n)			860,000				864,300
Kinder Morgan Energy Partners LP, 5.125%, 2014			647,000				681,481
MarkWest Energy Partners LP, 4.5%, 2023			576,000				541,440
Sabine Pass Liquefaction, 5.625%, 2021 (n)			615,000				606,544
Sabine Pass Liquefaction, 5.625%, 2023 (n)			660,000				643,500
Summit Midstream Holdings LLC, 7.5%, 2021 (z)			435,000				443,700
TransCanada PipeLines Ltd., 5.1%, 2017		CAD	425,000				453,067
						$	14,165,116
Network & Telecom - 1.1%
AT&T, Inc., 4.35%, 2045		$	1,024,000			$	894,212
Centurylink, Inc., 6.45%, 2021			185,000				195,175
Centurylink, Inc., 7.65%, 2042			890,000				841,050
Citizens Communications Co., 9%, 2031			580,000				568,400
Deutsche Telekom International Finance B.V., 4.875%, 2025		EUR	250,000				392,161
Frontier Communications Corp., 8.125%, 2018		$	245,000				273,175
Telecom Italia Finance S.A., 7.75%, 2033		EUR	250,000				358,719
Telecom Italia S.p.A, 5.625%, 2015		GBP	150,000				240,382
Telefonica Emisiones S.A.U., 3.987%, 2023		EUR	500,000				655,946
TW Telecom Holdings, Inc., 5.375%, 2022		$	565,000				567,825
Windstream Corp., 8.125%, 2018			220,000				234,300
Windstream Corp., 7.75%, 2020			710,000				756,150
Windstream Corp., 7.75%, 2021			125,000				133,125
						$	6,110,620
Oil Services - 1.5%
Afren PLC, 11.5%, 2016 (n)		$	335,000			$	387,763
Afren PLC, 10.25%, 2019 (n)			219,000				252,398
Bristow Group, Inc., 6.25%, 2022			660,000				686,400
Chesapeake Oilfield Operating LLC, 6.625%, 2019			390,000				393,900
Dresser-Rand Group, Inc., 6.5%, 2021			405,000				431,325
Edgen Murray Corp., 8.75%, 2020 (n)			1,185,000				1,185,000
Odebrecht Offshore Drilling Finance Ltd., 6.75%, 2022 (z)			1,548,000				1,544,904
Pacific Drilling S.A., 5.375%, 2020 (z)			560,000				548,800
Qgog Constellation S.A., 6.25%, 2019 (n)			438,000				416,100
Shale-Inland Holdings LLC/Finance Co., 8.75%, 2019 (n)			1,020,000				1,058,250
Unit Corp., 6.625%, 2021			1,505,000				1,565,200
						$	8,470,040
Oils - 0.1%
Tesoro Corp., 5.375%, 2022		$	500,000			$	495,000
Other Banks & Diversified Financials - 4.7%
Akbank T.A.S., 5%, 2022 (n)		$	188,000			$	170,140
Alfa Bank, 7.5%, 2019 (n)			367,000				384,433
Ally Financial, Inc., 5.5%, 2017			2,330,000				2,463,334
Ally Financial, Inc., 6.25%, 2017			480,000				520,040
Banco de Credito del Peru, 6.125% to 2022, FRN to 2027 (n)			509,000				509,000
Banco de Credito e Inversiones, 3%, 2017 (n)			250,000				246,276
Banco GNB Sudameris S.A., 3.875%, 2018 (n)			431,000				404,063

 

15

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Other Banks & Diversified Financials - continued
Banco Santander S.A., 4.125%, 2022 (n)		$	248,000			$	230,330
Bancolombia S.A., 5.95%, 2021			1,094,000				1,140,495
Bancolombia S.A., 5.125%, 2022			332,000				308,760
Bangkok Bank (Hong Kong), 3.875%, 2022 (n)			463,000				449,484
Banque Federative du Credit Mutuel, 2%, 2019		EUR	300,000				393,043
BBVA Banco Continental S.A., 5%, 2022 (n)		$	325,000				318,500
BBVA Bancomer S.A. de C.V., 6.5%, 2021 (n)			1,207,000				1,270,368
BBVA Bancomer S.A. de C.V., 6.75%, 2022 (n)			350,000				371,875
BBVA Continental, 5.75%, 2017 (n)			518,000				552,965
Capital One Financial Corp., 1%, 2015			800,000				794,529
Citigroup, Inc., 1.25%, 2016			1,000,000				993,172
Citigroup, Inc., 6.125%, 2018			463,000				532,688
CorpBanca, 3.125%, 2018			488,000				452,088
Deutsche Bank Capital Funding Trust, FRN, 5.33%, 2049		EUR	400,000				494,225
Dexia Credit Local, NY, 5.375%, 2014		EUR	300,000				411,082
Discover Bank, 7%, 2020		$	249,000				293,702
Erste Group Bank AG, 7.125%, 2022		EUR	250,000				369,503
Groupe BPCE S.A., 12.5% to 2019, FRN to 2049 (n)			2,583,000				3,193,234
Grupo Aval Ltd., 5.25%, 2017 (n)			387,000				402,480
Grupo Aval Ltd., 4.75%, 2022 (n)			378,000				357,683
Industrial Senior Trust, 5.5%, 2022 (n)			220,000				209,000
Intesa Sanpaolo S.p.A., 4.125%, 2016		EUR	300,000				414,580
Intesa Sanpaolo S.p.A., 3.875%, 2018		$	686,000				666,961
Intesa Sanpaolo S.p.A., 5.25%, 2022		GBP	250,000				383,401
KBC Ifima NV, 4.5%, 2017		EUR	300,000				439,889
LBG Capital No. 1 PLC, 7.875%, 2020 (n)		$	1,930,000				2,041,940
LBG Capital No. 2 PLC, 6.385%, 2020		EUR	450,000				604,644
PKO Finance AB, 4.63%, 2022 (n)		$	473,000				459,520
Rabobank Nederland N.V, 4%, 2022		GBP	200,000				315,998
Santander Issuances S.A., 4.5%, 2019		EUR	300,000				347,221
Santander UK PLC, 8.963% to 2030, FRN to 2049		$	1,941,000				2,426,250
Turkiye Garanti Bankasi A.S., 4%, 2017 (n)			203,000				194,880
Turkiye Is Bankasi A.S., 3.875%, 2017 (n)			305,000				292,800
UBS AG, 7.625%, 2022			435,000				483,946
						$	27,308,522
Pharmaceuticals - 1.0%
AbbVie, Inc., 1.2%, 2015 (n)		$	800,000			$	803,038
Capsugel FinanceCo. SCA, 9.875%, 2019 (n)		EUR	670,000				997,180
Mylan, Inc., 2.6%, 2018 (n)		$	1,000,000				998,107
Teva Pharmaceutical Finance B.V., 2.95%, 2022			500,000				470,019
Valeant Pharmaceuticals International, Inc., 7%, 2020 (n)			935,000				991,100
Valeant Pharmaceuticals International, Inc., 7.25%, 2022 (n)			530,000				563,125
Vantage Point Imaging, 7.5%, 2021 (z)			525,000				563,063
Watson Pharmaceuticals, Inc., 1.875%, 2017			700,000				689,874
						$	6,075,506
Pollution Control - 0.1%
Heckmann Corp., 9.875%, 2018		$	710,000			$	729,525
Precious Metals & Minerals - 0.3%
Eldorado Gold Corp., 6.125%, 2020 (n)		$	605,000			$	580,800
IAMGOLD Corp., 6.75%, 2020 (n)			1,156,000				982,600
						$	1,563,400

 

16

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Printing & Publishing - 0.6%
American Media, Inc., 13.5%, 2018 (z)		$	32,653			$	32,980
Gannett Co., Inc., 5.125%, 2020 (n)			460,000				458,850
Lamar Media Corp., 5%, 2023			425,000				406,938
Moody’s Corp., 4.5%, 2022			700,000				707,977
Nielsen Finance LLC, 7.75%, 2018			835,000				908,063
Nielsen Finance LLC, 4.5%, 2020 (n)			715,000				702,488
Wolters Kluwer N.V., 6.375%, 2018		EUR	300,000				480,873
						$	3,698,169
Railroad & Shipping - 0.1%
Brunswick Rail Finance Ltd., 6.5%, 2017 (n)		$	257,000			$	254,430
Kansas City Southern de Mexico S.A. de C.V., 6.125%, 2021			76,000				85,500
Watco Cos. LLC, 6.375%, 2023 (n)			450,000				448,875
						$	788,805
Real Estate - 1.3%
CNL Lifestyle Properties, Inc., REIT, 7.25%, 2019		$	440,000			$	447,700
DuPont Fabros Technology, Inc., REIT, 8.5%, 2017			785,000				834,063
ERP Properties, REIT, 7.75%, 2020			990,000				1,126,680
ERP Properties, REIT, 5.75%, 2022			250,000				254,433
Felcor Lodging LP, REIT, 5.625%, 2023			160,000				156,000
Hammerson PLC, REIT, 2.75%, 2019		EUR	300,000				405,451
Hammerson PLC, REIT, 6%, 2026		GBP	250,000				451,184
Health Care REIT, Inc., 5.125%, 2043		$	700,000				658,357
Kennedy Wilson, Inc., 8.75%, 2019			380,000				412,300
MPT Operating Partnership LP, REIT, 6.875%, 2021			760,000				811,300
MPT Operating Partnership LP, REIT, 6.375%, 2022			685,000				720,963
Simon Property Group, Inc., REIT, 10.35%, 2019			900,000				1,250,708
						$	7,529,139
Retailers - 2.4%
Academy Ltd., 9.25%, 2019 (n)		$	475,000			$	532,000
Burlington Coat Factory Warehouse Corp., 10%, 2019			895,000				1,000,163
CST Brands, Inc., 5%, 2023 (n)			280,000				276,500
Dollar General Corp., 4.125%, 2017			831,000				880,090
Gap, Inc., 5.95%, 2021			1,000,000				1,124,121
Home Depot, Inc., 5.875%, 2036			846,000				1,004,172
J. Crew Group, Inc., 8.125%, 2019			760,000				805,600
Jo-Ann Stores Holdings, Inc., 9.75%, 2019 (n)(p)			400,000				416,000
Kohl’s Corp., 3.25%, 2023			700,000				651,347
Limited Brands, Inc., 6.9%, 2017			630,000				711,900
Limited Brands, Inc., 7%, 2020			415,000				463,244
Limited Brands, Inc., 6.95%, 2033			360,000				360,000
Marks & Spencer Group PLC, 4.75%, 2025		GBP	300,000				458,844
Rite Aid Corp., 9.25%, 2020		$	1,140,000				1,269,675
Sally Beauty Holdings, Inc., 6.875%, 2019			590,000				646,050
The Pantry, Inc., 8.375%, 2020			450,000				486,000
Toys “R” Us Property Co. II LLC, 8.5%, 2017			660,000				697,125
Toys “R” Us, Inc., 10.75%, 2017			1,545,000				1,633,853
Wesfarmers Ltd., 1.874%, 2018 (n)			156,000				152,825
YCC Holdings LLC/Yankee Finance, Inc., 10.25%, 2016 (p)			430,000				441,829
						$	14,011,338
Specialty Chemicals - 0.3%
Chemtura Corp., 5.75%, 2021		$	220,000			$	218,900
Eagle Spinco, Inc., 4.625%, 2021 (n)			205,000				196,800

 

17

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Specialty Chemicals - continued
Ecolab, Inc., 4.35%, 2021		$	500,000			$	528,150
Koppers, Inc., 7.875%, 2019			535,000				571,113
SIBUR Securities Ltd., 3.914%, 2018 (n)			294,000				280,035
						$	1,794,998
Specialty Stores - 0.2%
Canadian Tire Corp. Ltd., 4.95%, 2015		CAD	450,000			$	461,431
Michaels Stores, Inc., 11.375%, 2016		$	407,000				424,302
Michaels Stores, Inc., 7.75%, 2018			475,000				514,781
						$	1,400,514
Steel - 0.1%
Severstal, 5.9%, 2022 (n)		$	322,000			$	297,045
Supermarkets - 0.1%
Delhaize Group, 3.125%, 2020		EUR	300,000			$	410,064
William Morrison Supermarkets PLC, 3.5%, 2026		GBP	150,000				218,227
						$	628,291
Supranational - 0.3%
Eurasian Development Bank, 4.767%, 2022 (n)		$	226,000			$	213,005
European Investment Bank, 5.125%, 2017			1,500,000				1,716,810
						$	1,929,815
Telecommunications - Wireless - 3.2%
America Movil S.A.B. de C.V., 4.75%, 2022		EUR	525,000			$	792,163
American Tower Corp., REIT, 3.5%, 2023		$	743,000				676,276
Bharti Airtel International Co., 5.125%, 2023 (n)			459,000				426,870
Clearwire Corp., 12%, 2015 (n)			925,000				980,500
Cricket Communications, Inc., 7.75%, 2020			610,000				693,875
Crown Castle International Corp., 7.125%, 2019			370,000				398,675
Crown Castle International Corp., 5.25%, 2023			475,000				457,188
Crown Castle Towers LLC, 6.113%, 2020 (n)			420,000				476,911
Digicel Group Ltd., 8.25%, 2017 (n)			1,140,000				1,188,450
Digicel Group Ltd., 10.5%, 2018 (n)			880,000				954,800
Digicel Group Ltd., 8.25%, 2020 (n)			324,000				348,300
Digicel Group Ltd., 6%, 2021 (n)			1,279,000				1,253,420
Eileme 2 AB, 11.625%, 2020 (n)			925,000				1,082,250
MetroPCS Wireless, Inc., 7.875%, 2018			720,000				781,200
MetroPCS Wireless, Inc., 6.25%, 2021 (n)			535,000				545,700
Millicom International Cellular S.A., 4.75%, 2020 (n)			446,000				432,620
MTS International Funding Ltd., 5%, 2023 (n)			201,000				187,975
Sprint Capital Corp., 6.875%, 2028			1,210,000				1,113,200
Sprint Nextel Corp., 6%, 2016			1,300,000				1,381,250
Sprint Nextel Corp., 8.375%, 2017			420,000				474,600
Sprint Nextel Corp., 9%, 2018 (n)			470,000				556,950
Sprint Nextel Corp., 6%, 2022			1,050,000				1,010,625
VimpelCom Ltd., 5.95%, 2023 (n)			255,000				237,150
Vodafone Group PLC, 4.65%, 2022		EUR	200,000				308,707
Wind Acquisition Finance S.A., 11.75%, 2017 (n)		$	920,000				970,600
Wind Acquisition Finance S.A., 7.25%, 2018 (n)			935,000				963,050
						$	18,693,305
Telephone Services - 0.4%
Cogent Communications Group, Inc., 8.375%, 2018 (n)		$	460,000			$	502,550
Level 3 Financing, Inc., 9.375%, 2019			790,000				876,900

 

18

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Telephone Services - continued
Level 3 Financing, Inc., 8.625%, 2020		$	425,000			$	467,500
TELUS Corp., 5.05%, 2020		CAD	475,000				505,847
						$	2,352,797
Tobacco - 0.4%
Imperial Tobacco Group PLC, 5.5%, 2026		GBP	350,000			$	599,723
Lorillard Tobacco Co., 8.125%, 2019		$	700,000				854,460
Reynolds American, Inc., 6.75%, 2017			816,000				946,733
						$	2,400,916
Transportation - 0.2%
Far Eastern Shipping Co., 8%, 2018 (n)		$	1,205,000			$	1,132,700
Transportation - Services - 1.7%
Aguila American Resources Ltd., 7.875%, 2018 (n)		$	930,000			$	962,550
Avis Budget Car Rental LLC, 8.25%, 2019			635,000				693,738
Avis Budget Car Rental LLC, 9.75%, 2020			420,000				489,825
CEVA Group PLC, 8.375%, 2017 (n)			1,360,000				1,366,800
ERAC USA Finance Co., 7%, 2037 (n)			878,000				1,052,277
HIT Finance B.V., 4.875%, 2021		EUR	300,000				435,731
Navios Maritime Acquisition Corp., 8.625%, 2017		$	1,140,000				1,185,600
Navios Maritime Holdings, Inc., 8.875%, 2017			315,000				330,356
Navios South American Logistics, Inc., 9.25%, 2019			755,000				813,513
Navios South American Logistics, Inc., 9.25%, 2019 (n)			28,000				30,170
Swift Services Holdings, Inc., 10%, 2018			1,980,000				2,212,650
Ultrapetrol (Bahamas) Ltd., 8.875%, 2021 (n)			406,000				414,120
						$	9,987,330
U.S. Treasury Obligations - 1.9%
U.S. Treasury Bonds, 3.125%, 2041 (f)		$	12,069,000			$	11,020,506
Utilities - Electric Power - 3.3%
AES Corp., 8%, 2017		$	111,000			$	128,760
AES Corp., 7.375%, 2021			560,000				632,800
AES Corp., 4.875%, 2023			80,000				76,000
APT Pipelines Ltd., 3.875%, 2022 (n)			919,000				851,676
Calpine Corp., 7.875%, 2020 (n)			1,035,000				1,122,975
CMS Energy Corp., 5.05%, 2022			500,000				544,623
Covanta Holding Corp., 7.25%, 2020			1,120,000				1,210,869
Covanta Holding Corp., 6.375%, 2022			300,000				308,663
E.ON International Finance B.V., 6.375%, 2032		GBP	200,000				381,030
EDP Finance B.V., 6%, 2018 (n)		$	1,360,000				1,410,021
Empresa de Energia de Bogota S.A., 6.125%, 2021 (n)			303,000				321,938
Enel S.p.A., 6.25%, 2019		GBP	250,000				418,383
Enel S.p.A., 5.25%, 2024		EUR	300,000				422,359
Energy Future Holdings Corp., 10%, 2020 (n)		$	995,000				1,074,600
Energy Future Holdings Corp., 10%, 2020			2,533,000				2,741,973
Energy Future Holdings Corp., 12.25%, 2022 (n)			805,000				895,563
FirstEnergy Corp., 2.75%, 2018			700,000				677,770
InterGen N.V., 7%, 2023 (z)			560,000				558,600
NGG Finance PLC, 5.625%, 2073		GBP	250,000				382,024
NRG Energy, Inc., 8.25%, 2020		$	1,860,000				2,064,600
NRG Energy, Inc., 6.625%, 2023			140,000				143,500
PPL Capital Funding, Inc., 1.9%, 2018			190,000				187,049
Red Electrica de Espana, 3.5%, 2016		EUR	300,000				418,615
Red Electrica de Espana, 4.75%, 2018		EUR	200,000				292,364

 

19

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Bonds - continued
Utilities - Electric Power - continued
Southern Electric Power Co. Ltd., 4.625%, 2037		GBP	200,000			$	313,284
System Energy Resources, Inc., 5.129%, 2014 (z)		$	408,271				410,607
Texas Competitive Electric Holdings Co. LLC, 11.5%, 2020 (n)			415,000				311,250
Waterford 3 Funding Corp., 8.09%, 2017			969,907				981,589
						$	19,283,485
Utilities - Gas - 0.1%
Suburban Propane Partners LP, 7.5%, 2018		$	150,000			$	162,000
Transport de Gas Peru, 4.25%, 2028 (n)			387,000				352,170
						$	514,170
Utilities - Water - 0.1%
Veolia Environnement S.A., 4.45%, 2049		EUR	300,000			$	387,770
Total Bonds						$	643,923,958
Convertible Bonds - 0.1%
Network & Telecom - 0.1%
Nortel Networks Corp., 2.125%, 2014 (a)(d)		$	605,000			$	594,413
Floating Rate Loans (g)(r) - 1.1%
Aerospace - 0.1%
TransDigm, Inc., Term Loan C, 3.75%, 2020		$	442,350			$	444,436
Building - 0.0%
ABC Supply Co., Inc., Term Loan, 3.5%, 2020		$	181,294			$	181,326
Conglomerates - 0.1%
Silver II U.S. Holdings LLC, Term Loan B, 4%, 2019		$	483,355			$	482,747
Consumer Services - 0.1%
Realogy Corp., Term Loan, 4.5%, 2020		$	288,439			$	290,782
Energy - Independent - 0.1%
MEG Energy Corp., Term Loan B, 3.75%, 2020		$	534,586			$	537,092
Entertainment - 0.1%
Cedar Fair LP, Term Loan B, 3.25%, 2020		$	373,982			$	375,852
Food & Beverages - 0.1%
Aramark Corp., Term Loan D, 4%, 2019		$	443,417			$	447,297
H J Heinz Co., Term Loan B2, 3.5%, 2020			274,607				277,010
						$	724,307
Retailers - 0.2%
Rite Aid Corp., 2nd Lien Term Loan, 4.87%, 2021		$	328,597			$	330,651
Toys “R” Us Property Co., Term Loan B, 2019 (o)			630,949				624,640
						$	955,291
Transportation - Services - 0.2%
Commercial Barge Line Co., Term Loan, 7.5%, 2019		$	1,398,398			$	1,321,486
Utilities - Electric Power - 0.1%
Calpine Construction Finance Co., Term Loan B1, 3%, 2020		$	938,740			$	930,644
Total Floating Rate Loans						$	6,243,963

 

20

---

Portfolio of Investments (unaudited) – continued

 

Issuer		Shares/Par				Value ($)
Common Stocks - 0.0%
Automotive - 0.0%
Accuride Corp. (a)			20,680			$	118,290
Printing & Publishing - 0.0%
American Media Operations, Inc. (a)			8,368			$	43,597
Total Common Stocks						$	161,887
Preferred Stocks - 0.2%
Other Banks & Diversified Financials - 0.2%
Ally Financial, Inc., 7% (z)			480			$	475,470
GMAC Capital Trust I, 8.125%			28,250				750,038
Total Preferred Stocks						$	1,225,508
Convertible Preferred Stocks - 0.1%
Automotive - 0.1%
General Motors Co., 4.75%			10,420			$	520,375
Money Market Funds - 0.9%
MFS Institutional Money Market Portfolio, 0.08%, at Net Asset Value (v)			5,558,282			$	5,558,282
Total Investments						$	658,228,386
Other Assets, Less Liabilities - (13.2)%							(76,903,435	)
Net Assets - 100.0%						$	581,324,951

 

(a)	Non-income producing security.

(d)	In default. Interest and/or scheduled principal payment(s) have been missed.

(f)	All or a portion of the security has been segregated as collateral for open futures contracts.

(g)	The rate shown represents a weighted average coupon rate on settled positions at period end, unless otherwise indicated.

(i)	Interest only security for which the fund receives interest on notional principal (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security.

(n)

Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $207,620,424, representing 35.7% of net assets.

(o)	All or a portion of this position has not settled. Upon settlement date, interest rates for unsettled amounts will be determined. The rate shown, if any, represents the weighted average coupon rate for settled amounts.

(p)	Payment-in-kind security.

(q)	Interest received was less than stated coupon rate.

(r)

Remaining maturities of floating rate loans may be less than stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty. These loans may be subject to restrictions on resale. Floating rate loans generally have rates of interest which are determined periodically by reference to a base lending rate plus a premium.

(v)	Underlying affiliated fund that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

(z)

Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. The fund holds the following restricted securities:

 

Restricted Securities		Acquisition Date		Cost				Value
Ally Financial, Inc., 7% (Preferred Stock)		4/13/11-4/14/11		$	450,000			$	475,470
American Media, Inc., 13.5%, 2018		12/22/10			33,046				32,980
Audatex North America, Inc., 6%, 2021		6/27/13			335,000				340,863
Bayview Financial Revolving Mortgage Loan Trust, FRN, 1.786%, 2040		3/01/06			2,509,952				1,213,214
Boart Longyear Ltd., 7%, 2021		6/04/13			172,413				158,375
Chester Downs & Marina LLC, 9.25%, 2020		6/18/13-6/27/13			422,821				420,750
Dematic S.A., 7.75%, 2020		12/13/12-7/29/13			967,128				1,005,138
Falcon Franchise Loan LLC, FRN, 11.363%, 2025		1/29/03			48,273				88,358

 

21

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Portfolio of Investments (unaudited) – continued

 

Restricted Securities - continued		Acquisition Date		Cost				Value
First Union National Bank Commercial Mortgage Trust, FRN, 1.629%, 2043		12/11/03		$	1,791			$	2,037
G-Force LLC, CDO, “A2”, 4.83%, 2036		1/20/11			512,010				527,937
Heckler & Koch GmbH, 9.5%, 2018		5/06/11-1/02/13			675,547				613,571
Icahn Enterprises LP, 6%, 2020		7/29/13			420,000				420,000
InterGen N.V., 7%, 2023		6/24/13-7/07/13			555,690				558,600
Local TV Finance LLC, 9.25%, 2015		11/13/07-2/06/13			920,698				939,444
Midcontinent Express Pipeline LLC, 6.25%, 2021		7/23/13			75,000				75,375
Morgan Stanley Capital I, Inc., FRN, 1.384%, 2039		7/20/04			71,603				84,415
Multi Security Asset Trust, “A3”, CDO, 5%, 2035		10/12/10			1,026,207				1,037,288
Myriad International Holdings B.V., 6%, 2020		7/11/13			1,265,000				1,306,113
NAI Entertainment Holdings LLC, 5%, 2018		7/30/13			392,000				395,363
NOVA Chemicals Corp., 5.25%, 2023		7/16/13			435,875				435,000
Nara Cable Funding Ltd., 8.875%, 2018		7/17/13			251,965				246,750
OJSC Russian Agricultural Bank, 5.1%, 2018		7/18/13			346,000				347,168
Odebrecht Offshore Drilling Finance Ltd., 6.75%, 2022		7/26/13			1,547,907				1,544,904
PNK Finance Corp., 6.375%, 2021		7/30/13			300,000				302,250
Pacific Drilling S.A., 5.375%, 2020		6/05/13-7/17/13			545,719				548,800
Peninsula Gaming LLC, 8.375%, 2018		6/26/13			181,889				189,438
Petroleos Mexicanos, 4.875%, 2024		7/11/13			352,168				357,540
Pinnacle Foods Finance LLC, 4.875%, 2021		6/11/13			148,286				140,625
Quiksilver, Inc., 10%, 2020		7/11/13			74,072				77,438
Renaissance Acquisition, 6.875%, 2021		7/22/13			800,000				796,000
SIRIUS XM Radio, Inc., 5.75%, 2021		7/29/13			195,000				195,000
Summit Midstream Holdings LLC, 7.5%, 2021		6/12/13			435,000				443,700
Sun Merger Sub, Inc., 5.875%, 2021		7/19/13-7/24/13			341,568				340,850
System Energy Resources, Inc., 5.129%, 2014		4/16/04			408,271				410,607
Tronox Finance LLC, 6.375%, 2020		7/15/13			383,197				378,213
Vantage Point Imaging, 7.5%, 2021		6/27/13			525,000				563,063
Walter Energy Inc., 8.5%, 2021		7/15/13-7/25/13			408,943				381,875
Total Restricted Securities								$	17,394,512
% of Net assets									3.0%

The following abbreviations are used in this report and are defined:

 

CDO		Collateralized Debt Obligation
FRN		Floating Rate Note. Interest rate resets periodically and may not be the rate reported at period end.
PLC		Public Limited Company
REIT		Real Estate Investment Trust

Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below:

 

AUD		Australian Dollar
BRL		Brazilian Real
CAD		Canadian Dollar
CHF		Swiss Franc
CNY		Chinese Yuan Renminbi
DKK		Danish Krone
EUR		Euro
GBP		British Pound

 

22

---

Portfolio of Investments (unaudited) – continued

 

JPY		Japanese Yen
KRW		Korean Won
MXN		Mexican Peso
NOK		Norwegian Krone
PHP		Philippine Peso
SEK		Swedish Krona
PHP		Philippine Peso

Derivative Contracts at 7/31/13

Forward Foreign Currency Exchange Contracts at 7/31/13

 

Type		Currency				Counterparty		Contracts to Deliver/Receive		Settlement Date Range		In Exchange For				Contracts at Value				Net Unrealized Appreciation (Depreciation)
Asset Derivatives
SELL			AUD			Westpac Banking Corp.		1,082,578		10/18/13		$	990,603			$	968,082			$	22,521
SELL			BRL			UBS AG		3,117,000		8/02/13			1,370,516				1,366,296				4,220
BUY			CNY			Deutsche Bank AG		18,866,000		1/15/14			3,001,546				3,046,076				44,530
BUY			DKK			Goldman Sachs International		11,054		10/18/13			1,933				1,974				41
SELL			EUR			Barclays Bank PLC		9,002,755		9/18/13			11,997,521				11,978,725				18,796
SELL			EUR			UBS AG		9,002,755		9/18/13			11,997,971				11,978,725				19,246
BUY			KRW			JPMorgan Chase Bank N.A		1,646,502,000		8/01/13			1,436,112				1,465,609				29,497
SELL			KRW			JPMorgan Chase Bank N.A		1,646,502,000		8/01/13			1,479,736				1,465,609				14,127
BUY			MXN			JPMorgan Chase Bank N.A		38,407,000		9/03/13			2,932,168				2,997,584				65,416
BUY			NOK			Goldman Sachs International		1,290		10/18/13			211				218				7
SELL			PHP			Barclays Bank PLC		124,000,000		8/01/13-8/30/13			2,862,419				2,855,256				7,163
BUY			SEK			Goldman Sachs International		13,272		10/18/13			1,974				2,033				59
																				$	225,623
Liability Derivatives
BUY			BRL			UBS AG		3,122,000		8/02/13		$	1,421,648			$	1,368,488			$	(53,160	)
SELL			BRL			UBS AG		5,000		8/02/13			2,183				2,192				(9	)
SELL			CAD			Merrill Lynch International Bank		3,070,534		10/18/13			2,923,374				2,983,872				(60,498	)
SELL			CHF			UBS AG		2,864		10/18/13			2,963				3,097				(134	)
SELL			CNY			Deutsche Bank AG		18,865,000		1/15/14			3,036,045				3,045,914				(9,869	)
SELL			EUR			Citibank N.A.		449,000		10/18/13			576,949				597,490				(20,541	)
SELL			EUR			Deutsche Bank AG		1,813,631		10/18/13			2,327,077				2,413,420				(86,343	)
SELL			EUR			JPMorgan Chase Bank N.A		1,813,631		10/18/13			2,327,176				2,413,420				(86,244	)
SELL			GBP			Credit Suisse Group		2,774,057		10/18/13			4,141,945				4,217,954				(76,009	)
SELL			GBP			Merrill Lynch International Bank		2,774,058		10/18/13			4,140,752				4,217,954				(77,202	)
SELL			JPY			Barclays Bank PLC		177,759,000		10/18/13			1,813,142				1,816,269				(3,127	)
SELL			JPY			Merrill Lynch International Bank		753,215,688		10/18/13			7,596,576				7,696,051				(99,475	)
BUY			KRW			JPMorgan Chase Bank N.A		3,230,419,000		8/29/13			2,896,454				2,870,873				(25,581	)
BUY			MXN			Goldman Sachs International		17,900,000		10/18/13			1,393,556				1,391,458				(2,098	)
SELL			MXN			Deutsche Bank AG		53,717,000		8/15/13			4,169,539				4,200,264				(30,725	)
BUY			PHP			Barclays Bank PLC		123,876,000		8/01/13-8/30/13			2,869,167				2,852,401				(16,766	)
																				$	(647,781	)

 

23

---

Portfolio of Investments (unaudited) – continued

 

Futures Contracts Outstanding at 7/31/13

 

Description

Currency

Contracts

Value

Expiration Date

Unrealized Appreciation (Depreciation)

Asset Derivatives

Interest Rate Futures

U.S. Treasury Note 10 yr (Short)

USD

477

$60,310,688

September - 2013

$1,418,151

U.S. Treasury Bond 30 yr (Short)

USD

8

1,072,500

September - 2013

53,058

$1,471,209

At July 31, 2013, the fund had cash collateral of $544,700 and other liquid securities with an aggregate value of $310,463 to cover any commitments for certain derivative contracts.

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

 

24

---

Supplemental Information

7/31/13 (unaudited)

(1) Investment Valuations

Equity securities, including restricted equity securities, are generally valued at the last sale or official closing price as provided by a third-party pricing service on the market or exchange on which they are primarily traded. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation as provided by a third-party pricing service on the market or exchange on which such securities are primarily traded. Debt instruments and floating rate loans (other than short-term instruments), including restricted debt instruments, are generally valued at an evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less generally are valued at amortized cost, which approximates market value. Futures contracts are generally valued at last posted settlement price as provided by a third-party pricing service on the market on which they are primarily traded. Futures contracts for which there were no trades that day for a particular position are generally valued at the closing bid quotation as provided by a third-party pricing service on the market on which such futures contracts are primarily traded. Forward foreign currency exchange contracts are generally valued at the mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods. Open-end investment companies are generally valued at net asset value per share. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. Values obtained from third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

The Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund’s investments (including any fair valuation) to the adviser pursuant to valuation policies and procedures approved by the Board. If the adviser determines that reliable market quotations are not readily available, investments are valued at fair value as determined in good faith by the adviser in accordance with such procedures under the oversight of the Board of Trustees. Under the fund’s valuation policies and procedures, market quotations are not considered to be readily available for most types of debt instruments and floating rate loans and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services. In addition, investments may be valued at fair value if the adviser determines that an investment’s value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund’s net asset value, or after the halting of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund’s net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund’s net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net asset value per share.

Various inputs are used in determining the value of the fund’s assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes unobservable inputs, which may include the adviser’s own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments not reflected in total investments, such as futures contracts and forward foreign currency exchange contracts.

 

25

---

Supplemental Information (unaudited) – continued

 

The following is a summary of the levels used as of July 31, 2013 in valuing the fund’s assets or liabilities:

 

Investments at Value		Level 1				Level 2				Level 3				Total
Equity Securities			$1,388,703				$475,470				$43,597				$1,907,770
U.S. Treasury Bonds & U.S. Government Agency & Equivalents			—				11,020,506				—				11,020,506
Non-U.S. Sovereign Debt			—				121,636,116				—				121,636,116
Municipal Bonds			—				432,380				—				432,380
U.S. Corporate Bonds			—				341,082,227				—				341,082,227
Residential Mortgage-Backed Securities			—				9,787,978				—				9,787,978
Commercial Mortgage-Backed Securities			—				14,647,815				—				14,647,815
Asset-Backed Securities (including CDOs)			—				2,903,738				—				2,903,738
Foreign Bonds			—				143,007,611				—				143,007,611
Floating Rate Loans			—				6,243,963				—				6,243,963
Mutual Funds			5,558,282				—				—				5,558,282
Total Investments			$6,946,985				$651,237,804				$43,597				$658,228,386
Other Financial Instruments
Futures Contracts			$1,471,209				$—				$—				$1,471,209
Forward Foreign Currency Exchange Contracts			—				(422,158	)			—				(422,158	)

For further information regarding security characteristics, see the Portfolio of Investments.

The following is a reconciliation of level 3 assets for which significant unobservable inputs were used to determine fair value. The fund’s policy is to recognize transfers between the levels as of the end of the period. The table presents the activity of level 3 securities held at the beginning and the end of the period.

 

		Equity Securities
Balance as of 10/31/12			$44,267
Change in unrealized appreciation (depreciation)			(670	)
Balance as of 7/31/13			$43,597

The net change in unrealized appreciation (depreciation) from investments still held as level 3 at July 31, 2013 is $(670).

(2) Portfolio Securities

The cost and unrealized appreciation and depreciation in the value of the investments owned by the fund, as computed on a federal income tax basis, are as follows:

 

Aggregate cost			$645,365,241
Gross unrealized appreciation			28,555,902
Gross unrealized depreciation			(15,692,757	)
Net unrealized appreciation (depreciation)			$12,863,145

The aggregate cost above includes prior fiscal year end tax adjustments, if applicable.

(3) Transactions in Underlying Affiliated Funds – Affiliated Issuers

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the fund assumes the following to be an affiliated issuer:

 

Underlying Affiliated Fund		Beginning Shares/Par Amount				Acquisitions Shares/Par Amount				Dispositions Shares/Par Amount				Ending Shares/Par Amount
MFS Institutional Money Market Portfolio			38,135,567				136,458,229				(169,035,514	)			5,558,282
Underlying Affiliated Fund		Realized Gain (Loss)				Capital Gain Distributions				Dividend Income				Ending Value
MFS Institutional Money Market Portfolio			$—				$—				$23,694				$5,558,282

 

26

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Supplemental Information (unaudited) – continued

 

(4) Issuer Country Weightings

Issuer country weighting percentages of portfolio holdings based on net assets, as of July 31, 2013, are as follows:

 

United States			53.5%
United Kingdom			4.4%
Mexico			4.0%
Russia			3.7%
Brazil			2.7%
Canada			2.4%
Indonesia			2.4%
France			2.2%
Netherlands			1.5%
Other Countries			23.2%

The issuer country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.

 

27

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ITEM 2.

CONTROLS AND PROCEDURES.

 

(a)

Based upon their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

 

(b)

There were no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) 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 Act (17 CFR 270.30a-2): Attached hereto.

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Notice

A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.

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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: MFS MULTIMARKET INCOME TRUST

 

By (Signature and Title)*		JOHN M. CORCORAN
		John M. Corcoran, President

Date: September 16, 2013

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.

 

By (Signature and Title)*		JOHN M. CORCORAN
		John M. Corcoran, President (Principal Executive Officer)

Date: September 16, 2013

 

By (Signature and Title)*		DAVID L. DILORENZO
		David L. DiLorenzo, Treasurer (Principal Financial Officer and Accounting Officer)

Date: September 16, 2013

 

*	Print name and title of each signing officer under his or her signature.