Delaware High-Yield Opportunities Fund

Holdings as of 06/30/2010 (all share classes)

Portfolio holdings are as of the date noted above and are subject to change at any time. Holdings may not be representative of current or future investments and may not include the entire investment portfolio. Holdings information is made available to the public 30 calendar days after the most recent quarter-end.

Holdings data is for informational purposes only, and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any specific security. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or part. In no event shall the Delaware Family of Funds or its affiliates have any liability relating to the use of the portfolio holdings.

Unlike the Fund's regulatory filings, the portfolio data and its presentation in this document is not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it may differ from that provided in the complete portfolio of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete portfolio of investments filed in the first and third quarter on Form N-Q.

SEC description	# Holdings	Portfolio %	Market value	Income rate	Maturity date	Nasdaq symbol
ACCELLENT INC	1,487,000.00	0.33	$1,472,130.00	10.50	12/01/2013	00430XAB3
AES CORP/THE	300,000.00	0.07	$306,750.00	7.75	03/01/2014	AES
AES CORP/THE	1,736,000.00	0.39	$1,753,360.00	8.00	06/01/2020	AES
AFFINION GROUP INC	879,000.00	0.21	$927,345.00	11.50	10/15/2015	AFFINI
AK STEEL CORP	2,104,000.00	0.46	$2,051,400.00	7.62	05/15/2020	AKS
ALGOMA ACQUISITION CORP	2,448,000.00	0.47	$2,093,040.00	9.88	06/15/2015	AGACN
ALION SCIENCE AND TECHNOLOGY C	1,838,980.00	0.41	$1,848,174.90	12.00	11/01/2014	ALISCI
ALLEGIANCE TELECOM INC	2,300,000.00	0.00	$0.00	11.75	02/15/2011	ALGXQ
ALLIANCE HEALTHCARE SERVICES I	107,528.00	0.10	$434,413.12	0.00	N/A	AIQ
ALLIANCE ONE INTERNATIONAL INC	349,000.00	0.08	$356,852.50	10.00	07/15/2016	AOI
ALLIANCE ONE INTERNATIONAL INC	1,530,000.00	0.35	$1,564,425.00	10.00	07/15/2016	AOI
ALLISON TRANSMISSION 144A	2,607,000.00	0.61	$2,743,867.50	11.00	11/01/2015	019736AA5
AMERICAN AXLE & MFG INC	3,334,000.00	0.65	$2,908,915.00	7.88	03/01/2017	02406PAF7
AMERICAN INTERNATIONAL GROUP I	4,110,000.00	0.73	$3,277,725.00	8.18	05/15/2058	AIG
AMERICAN PETROLEUM TANKERS LLC	1,176,000.00	0.26	$1,184,820.00	10.25	05/01/2015	AMPETR
AMES TRUE TEMPER	1,486,000.00	0.32	$1,456,280.00	10.00	07/15/2012	031042AB0
AMH HOLDINGS INC	2,242,000.00	0.51	$2,298,050.00	11.25	03/01/2014	SIDE
ANTERO RESOURCES FINANCE CORP	1,606,000.00	0.36	$1,614,030.00	9.38	12/01/2017	ANTERO
APPLETON PAPERS INC	1,909,000.00	0.40	$1,813,550.00	10.50	06/15/2015	APPPAP
AQUILEX HOLDINGS LLC/AQUILEX F	2,115,000.00	0.47	$2,125,575.00	11.12	12/15/2016	AQUILE
ARVINMERITOR INC	1,311,000.00	0.31	$1,396,215.00	10.62	03/15/2018	ARM
ARVINMERITOR INC	2,270,000.00	0.49	$2,190,550.00	8.12	09/15/2015	ARM
ASHTEAD CAPITAL 144A	2,025,000.00	0.44	$1,994,625.00	9.00	08/15/2016	045054AA1
ASPECT SOFTWARE INC	2,403,000.00	0.54	$2,415,015.00	10.62	05/15/2017	CRTO
AVADO BRANDS (RESTRICTED)	10,210.00	0.00	$0.00	0.00	N/A	05336N996
AVIS BUDGET CAR RENTAL LLC / A	2,408,000.00	0.54	$2,444,120.00	9.62	03/15/2018	CAR
BAUSCH & LOMB INC	1,101,000.00	0.25	$1,136,782.50	9.88	11/01/2015	BOL
BEAZER HOMES USA INC	813,000.00	0.17	$756,090.00	9.12	06/15/2018	BZH
BEAZER HOMES USA INC	1,740,000.00	0.35	$1,566,000.00	8.12	06/15/2016	BZH
BERRY PLASTICS CORP	2,400,000.00	0.52	$2,322,000.00	8.88	09/15/2014	BERRY
BIOMET INC	2,071,000.00	0.50	$2,252,212.50	11.62	10/15/2017	BMET
BIOSCRIP INC	2,278,000.00	0.50	$2,266,610.00	10.25	10/01/2015	BIOS
BURLINGTON COAT FACTORY INVEST	4,332,000.00	1.02	$4,570,260.00	14.50	10/15/2014	BCFACT
BWAY HOLDING CO	2,165,000.00	0.50	$2,267,837.50	10.00	06/15/2018	BWY
CABLEVISION SYSTEMS CORP	270,000.00	0.06	$274,725.00	8.00	04/15/2020	CVC
CABLEVISION SYSTEMS CORP	638,000.00	0.14	$653,950.00	8.62	09/15/2017	CVC
CALPINE CORP ESCROW TRACKING	2,490,000.00	0.00	$0.25	0.00	N/A	131ESC9B3
CASELLA WASTE SYSTEMS INC	1,286,000.00	0.31	$1,395,310.00	11.00	07/15/2014	CWST
CASELLA WASTE SYSTEMS INC	2,172,000.00	0.49	$2,182,860.00	9.75	02/01/2013	CWST
CASH	4,960,332.02	1.11	$4,960,332.02	0.00	12/15/2038	US-CASH
CCO HOLDINGS LLC / CCO HOLDING	528,000.00	0.12	$533,280.00	7.88	04/30/2018	CCMM
CCO HOLDINGS LLC / CCO HOLDING	663,000.00	0.15	$681,232.50	8.12	04/30/2020	CCMM
CEMEX ESPANA SA	1,625,000.00	0.32	$1,421,875.00	9.25	05/12/2020	CEMEX
CEMEX FINANCE LLC	2,160,000.00	0.47	$2,095,200.00	9.50	12/14/2016	CEMEX
CENTURY ALUMINUM CO	1,879,500.00	0.40	$1,780,826.25	8.00	05/15/2014	CENX
CENTURY COMM TRACKING	4,250,000.00	0.00	$0.00	0.00	N/A	156ESCAG0
CHARTER COMMUNICATIONS OPERATI	1,047,000.00	0.26	$1,167,405.00	10.88	09/15/2014	CHTR
CHESAPEAKE ENERGY CORP	175,000.00	0.04	$181,562.50	7.25	12/15/2018	CHK
CHESAPEAKE ENERGY CORP	1,246,000.00	0.31	$1,383,060.00	9.50	02/15/2015	CHK
CLEAR CHANNEL COMMUNICATIONS I	2,368,000.00	0.37	$1,675,360.00	10.75	08/01/2016	CCU
CLEARWIRE COMMUNICATIONS LLC/C	2,109,000.00	0.47	$2,111,636.25	12.00	12/01/2015	CLWR
CLEARWIRE CORP	4,272,000.00	0.95	$4,255,980.00	12.00	12/01/2015	CLWR
COLUMBUS INTERNATIONAL INC	2,945,000.00	0.70	$3,151,364.99	11.50	11/20/2014	COLUIF
COMPLETE PRODUCTION SERVICES I	1,132,000.00	0.25	$1,112,190.00	8.00	12/15/2016	CPX
COPANO ENERGY LLC / COPANO ENE	1,028,000.00	0.22	$976,600.00	7.75	06/01/2018	CPNO
COTT BEVERAGES INC	1,291,000.00	0.29	$1,307,137.50	8.38	11/15/2017	BCB
CRICKET COMMUNICATIONS INC	2,358,000.00	0.55	$2,475,900.00	10.00	07/15/2015	LEAP
CROSSTEX ENERGY LP / CROSSTEX	1,815,000.00	0.41	$1,821,806.25	8.88	02/15/2018	XTEX
DAE AVIATION HOLDINGS INC	1,974,000.00	0.44	$1,964,130.00	11.25	08/01/2015	DAEAVI
DAVE & BUSTER'S INC	2,114,000.00	0.48	$2,140,425.00	11.00	06/01/2018	DAB
DEAN FOODS	1,366,000.00	0.29	$1,284,040.00	7.00	06/01/2016	242370AA2
DELTA AIR LINES INC	99.00	0.00	$1,163.25	0.00	N/A	DAL
DELTA AIR LINES INC	2,154,000.00	0.52	$2,310,165.00	11.75	03/15/2015	DAL
DIGICEL GROUP 144A	1,045,000.00	0.23	$1,030,631.25	9.12	01/15/2015	25380WAB2
DIGICEL GROUP LTD	1,025,000.00	0.23	$1,019,875.00	8.25	09/01/2017	DLLTD
DIGICEL GROUP LTD	1,075,000.00	0.25	$1,113,968.75	10.50	04/15/2018	DLLTD
DIGICEL GROUP LTD	1,245,000.00	0.27	$1,223,212.50	8.88	01/15/2015	DLLTD
DIRECTV	19,150.00	0.14	$649,568.00	0.00	N/A	DTV
DISH DBS CORP	2,059,000.00	0.48	$2,151,655.00	7.88	09/01/2019	DISH
DJO FINANCE LLC / DJO FINANCE	2,502,000.00	0.57	$2,564,550.00	11.75	11/15/2014	REABLE
DRUMMOND CO INC	2,029,000.00	0.46	$2,049,290.00	9.00	10/15/2014	DRUMCO
DRYSHIPS INC	1,370,000.00	0.23	$1,015,512.50	5.00	12/01/2014	DRYS
DYNCORP INTERNATIONAL INC	1,100,000.00	0.25	$1,108,250.00	10.38	07/01/2017	DCP
DYNEGY HOLDINGS INC	2,266,000.00	0.35	$1,577,702.50	7.75	06/01/2019	DYN
E*TRADE FINANCIAL CORP	4,014,000.00	0.96	$4,284,945.00	12.50	11/30/2017	ETFC
EDISON MISSION ENERGY	399,000.00	0.06	$247,380.00	7.20	05/15/2019	EIX
EDISON MISSION ENERGY	1,047,000.00	0.15	$675,315.00	7.00	05/15/2017	EIX
ELWOOD ENERGY LLC	1,517,669.24	0.32	$1,441,785.78	8.16	07/05/2026	ELWOOD
ENERGY FUTURE HOLDINGS CORP	889,000.00	0.15	$662,305.00	11.38	11/01/2017	TXU
ENERGY FUTURE HOLDINGS TERM B2	1,490,426.93	0.25	$1,107,200.91	3.73	10/10/2014	LN363469
EQUINOX HOLDINGS INC	2,174,000.00	0.48	$2,160,412.50	9.50	02/01/2016	EQUNOX
ESSAR STEEL ALGOMA INC	250,000.00	0.05	$238,750.00	9.38	03/15/2015	ALGCN
EXPRESS LLC & EXPRESS FINANCE	1,550,000.00	0.35	$1,584,875.00	8.75	03/01/2018	EXPR
FELCOR LODGING LP	1,863,000.00	0.44	$1,956,150.00	10.00	10/01/2014	FCH
FHLB DISCOUNT NOTE 7/1/10	1,602,558.53	0.36	$1,602,558.53	0.00	07/01/2010	0701PFDIS
FIRST DATA CORP	2,441,000.00	0.42	$1,867,365.00	9.88	09/24/2015	FDC
FIRST DATA CORP	2,870,000.00	0.40	$1,779,400.00	11.25	03/31/2016	FDC
FLEXTRONICS INTERNATIONAL	49,950.00	0.06	$279,720.00	0.00	N/A	FLEX
FMG FINANCE PTY LTD	4,259,000.00	1.05	$4,706,195.00	10.62	09/01/2016	30250BAC3
FORD MOTOR CO	3,828,000.00	0.77	$3,473,910.00	7.45	07/16/2031	F
FORD MOTOR CREDIT CO LLC	2,915,000.00	0.75	$3,377,575.52	12.00	05/15/2015	F
GCI INC	1,793,000.00	0.40	$1,797,482.50	8.62	11/15/2019	GNCMA
GENERAL MARITIME CORP	2,151,000.00	0.49	$2,204,775.00	12.00	11/15/2017	GMR
GENERAL MOTORS	3,908,000.00	0.27	$1,201,710.00	7.20	01/15/2011	370442BB0
GENWORTH FINANCIAL	4,481,000.00	0.69	$3,091,890.00	6.15	11/15/2066	37247DAG1
GEOEYE INC	7,900.00	0.05	$246,006.00	0.00	N/A	GEOY
GLOBAL CROSSING LTD	3,115,000.00	0.74	$3,317,475.00	12.00	09/15/2015	GLBC
GLOBAL GEOPHYSICAL SERVICES IN	1,072,000.00	0.23	$1,034,480.00	10.50	05/01/2017	GGS
GMAC INC	2,383,000.00	0.49	$2,216,190.00	8.00	12/31/2018	GMAC
GRAY TELEVISION INC	2,582,000.00	0.56	$2,517,450.00	10.50	06/29/2015	GTN
GXS WORLDWIDE INC	2,168,000.00	0.46	$2,081,280.00	9.75	06/15/2015	GXSWLD
HARRAH'S OPERATING CO INC	1,651,000.00	0.30	$1,362,075.00	10.00	12/15/2018	HET
HARRAH'S OPERATING CO INC	2,930,000.00	0.54	$2,417,250.00	10.00	12/15/2018	HET
HARRAHS CHESTER DOWNS TERM LOA	914,375.00	0.20	$914,375.00	12.38	12/31/2016	HET
HBOS CAPITAL FUNDING LP	2,941,000.00	0.46	$2,058,700.00	6.07	06/29/2049	40411CAA0
HCA INC/DE	503,000.00	0.12	$534,437.50	9.25	11/15/2016	HCA
HCA INC/DE - PRE 2010 IPO	547,000.00	0.13	$586,657.50	9.62	11/15/2016	HCA
HEADWATERS INC	2,046,000.00	0.46	$2,076,690.00	11.38	11/01/2014	HW
HELIX ENERGY SOLUTIONS GROUP I	2,975,000.00	0.61	$2,751,875.00	9.50	01/15/2016	HLX
HERCULES OFFSHORE INC	2,262,000.00	0.45	$2,018,835.00	10.50	10/15/2017	HERO
HEXION SPECIALTY	2,866,000.00	0.61	$2,722,700.00	9.75	11/15/2014	428303AH4
HILCORP ENERGY I LP/HILCORP FI	2,527,000.00	0.56	$2,508,047.50	8.00	02/15/2020	HILCRP
HOLLY CORP	1,707,000.00	0.39	$1,762,477.50	9.88	06/15/2017	HOC
ILFC E-CAPITAL TRUST II	3,500,000.00	0.50	$2,261,875.00	6.25	12/21/2065	AIG
INTELSAT	1,491,000.00	0.32	$1,412,722.50	6.50	11/01/2013	45820EAH5
INTELSAT BERMUDA LTD	5,001,000.00	1.14	$5,088,517.50	11.25	02/04/2017	INTEL
INTELSAT LUXEMBOURG SA	2,550,563.00	0.57	$2,556,939.41	11.50	02/04/2017	INTEL
INTERFACE INC	195,000.00	0.04	$201,093.75	9.50	02/01/2014	458665AJ5
INTERFACE INC	684,000.00	0.17	$769,500.00	11.38	11/01/2013	IFSIA
INTERNATIONAL COAL GROUP INC	2,243,000.00	0.50	$2,254,215.00	9.12	04/01/2018	ICOUS
INTERNATIONAL LEASE FINANCE CO	1,176,000.00	0.25	$1,117,200.00	8.75	03/15/2017	AIG
INTERNATIONAL WIRE GROUP INC	2,165,000.00	0.48	$2,154,175.00	9.75	04/15/2015	WIREG
INTERTAPE POLYMER US INC	1,286,000.00	0.23	$1,048,090.00	8.50	08/01/2014	ITP
INVERNESS MEDICAL INNOVATIONS	1,377,000.00	0.31	$1,383,885.00	9.00	05/15/2016	IMA
JBS USA LLC/JBS USA FINANCE IN	989,000.00	0.25	$1,113,861.25	11.62	05/01/2014	FRIBOI
JOHNSONDIVERSEY HOLDINGS INC	4,878,000.00	1.21	$5,438,970.00	10.50	05/15/2020	JONDIV
K HOVNANIAN ENTERPRISES INC	951,000.00	0.15	$670,455.00	7.50	05/15/2016	442488AZ5
K HOVNANIAN ENTERPRISES INC	2,076,000.00	0.34	$1,525,860.00	6.25	01/15/2015	442488AU6
KANSAS CITY SOUTHERN DE MEXICO	225,000.00	0.06	$270,000.00	12.50	04/01/2016	KSU
KANSAS CITY SOUTHERN DE MEXICO	1,620,000.00	0.38	$1,684,800.00	8.00	02/01/2018	KSU
KEY ENERGY SERVICES INC	1,893,000.00	0.42	$1,890,633.75	8.38	12/01/2014	KEG
LANDRY'S RESTAURANTS INC	3,026,000.00	0.70	$3,147,040.00	11.62	12/01/2015	LNY
LEAP WIRELESS INTERNATIONAL IN	1,403,000.00	0.26	$1,182,027.50	4.50	07/15/2014	LEAP CB1
LEVEL 3 FINANCING INC	2,579,000.00	0.51	$2,295,310.00	10.00	02/01/2018	LVLT
LIBERTY MUTUAL GROUP	2,921,000.00	0.51	$2,295,730.74	7.00	03/15/2037	53079EAQ7
LINN ENERGY LLC/LINN ENERGY FI	2,029,000.00	0.46	$2,087,333.75	8.62	04/15/2020	LINE
LIVE NATION ENTERTAINMENT INC	1,150,000.00	0.21	$961,687.50	2.88	07/15/2027	LYV CB1
LONG TERM RECEIVABLES	-1,826,740.79	-0.41	-$1,826,740.79	0.00	N/A	SECNCAHUS
LYONDELL CHEMICAL CO	2,340,000.00	0.56	$2,521,350.00	11.00	05/01/2018	LYO
M/I HOMES INC	985,000.00	0.22	$980,075.00	6.88	04/01/2012	MHO
MACDERMID INC	4,401,000.00	0.99	$4,423,005.00	9.50	04/15/2017	MRD
MAGNACHIP SEMICONDUCTOR SA / M	1,720,000.00	0.39	$1,758,700.00	10.50	04/15/2018	MX
MANITOWOC CO INC/THE	2,248,000.00	0.50	$2,259,240.00	9.50	02/15/2018	MTW
MCE FINANCE LTD	2,826,000.00	0.66	$2,949,637.50	10.25	05/15/2018	MPEL
MDC PARTNERS INC	1,102,000.00	0.26	$1,179,140.00	11.00	11/01/2016	MDCA
METROPCS WIRELESS INC	197,000.00	0.04	$203,895.00	9.25	11/01/2014	GWIR
MGM MIRAGE	805,000.00	0.21	$931,787.50	13.00	11/15/2013	MGM
MGM MIRAGE	5,014,000.00	1.06	$4,738,230.00	11.38	03/01/2018	MGM
MILLAR WESTERN	1,761,000.00	0.34	$1,523,265.00	7.75	11/15/2013	599908AE0
MIRANT 2.50% CNV (ESCROW)	1,685,000.00	0.00	$0.00	0.00	N/A	6046759B6
MIRANT AMERICAS GENERATION LLC	2,305,000.00	0.48	$2,155,175.00	8.50	10/01/2021	MIR
MIRANT CORP	1,775.00	0.00	$18,744.00	0.00	N/A	MIR
MOBILE MINI INC	22,073.00	0.08	$359,348.44	0.00	N/A	MINI
MOHEGAN TRIBAL GAMING AUTHORIT	549,000.00	0.09	$392,535.00	6.88	02/15/2015	608328AR1
MOHEGAN TRIBAL GAMING AUTHORIT	1,386,000.00	0.22	$1,008,315.00	7.12	08/15/2014	608328AP5
MURRAY ENERGY CORP	2,215,000.00	0.49	$2,215,000.00	10.25	10/15/2015	MURREN
MYLAN INC/PA	1,152,000.00	0.26	$1,180,800.00	7.88	07/15/2020	MYL
NCL CORP LTD	2,430,000.00	0.57	$2,551,500.00	11.75	11/15/2016	STRC
NEWPAGE CORP	222,000.00	0.04	$202,575.00	11.38	12/31/2014	NEWPAG
NEWPAGE CORP	2,075,000.00	0.42	$1,893,437.50	11.38	12/31/2014	NEWPAG
NEXSTAR BROADCASTING INC / MIS	2,268,000.00	0.51	$2,290,680.00	8.88	04/15/2017	NXST
NFR ENERGY LLC/NFR ENERGY FINA	2,512,000.00	0.54	$2,436,640.00	9.75	02/15/2017	NFREGY
NIELSEN FINANCE LLC / NIELSEN	206,000.00	0.05	$226,085.00	11.62	02/01/2014	VNU
NIELSEN FINANCE LLC / NIELSEN	339,000.00	0.08	$372,052.50	11.50	05/01/2016	VNU
NIELSEN FINANCE LLC / NIELSEN	2,654,000.00	0.57	$2,541,205.00	0.00	08/01/2016	65409QAJ1
NII CAPITAL CORP	1,829,000.00	0.43	$1,934,167.50	10.00	08/15/2016	NIHD
NORANDA ALUMINIUM ACQUISITION	1,519,747.00	0.26	$1,177,803.93	5.37	05/15/2015	NRNDA
NORCRAFT COS LP/NORCRAFT FINAN	1,492,000.00	0.34	$1,544,220.00	10.50	12/15/2015	NORCFT
NORCRAFT HOLDINGS LP/NORCRAFT	1,958,000.00	0.42	$1,862,547.50	9.75	09/01/2012	NORCFT
NORTHWEST AIRLNS ESCROW (STUB)	575,000.00	0.00	$2,185.00	10.00	02/01/2011	66799ADP5
NOVASEP HOLDING SAS	2,145,000.00	0.47	$2,118,187.50	9.75	12/15/2016	NOVASP
NOVELIS INC/GA	967,000.00	0.23	$1,015,350.00	11.50	02/15/2015	HINDAL
NOVELIS INC/GA	1,027,000.00	0.22	$996,190.00	8.25	02/15/2015	67000XAB2
NUVEEN INVESTMENTS INC	7,250,000.00	1.42	$6,343,750.00	10.50	11/15/2015	NUVINV
NXP BV / NXP FUNDING LLC	2,370,000.00	0.44	$1,990,800.00	9.50	10/15/2015	NXPBV
OPTI CANADA INC	1,927,000.00	0.38	$1,686,125.00	7.88	12/15/2014	OPCCN
OPTI CANADA INC	2,621,000.00	0.51	$2,293,375.00	8.25	12/15/2014	OPCCN
OSI RESTAURANT PARTNERS INC	1,598,000.00	0.35	$1,570,035.00	10.00	06/15/2015	OSI
PAETEC HOLDING CORP	638,000.00	0.14	$641,190.00	8.88	06/30/2017	PAET
PAETEC HOLDING CORP	1,191,000.00	0.26	$1,164,202.50	9.50	07/15/2015	PAET
PE PAPER ESCROW GMBH	1,075,000.00	0.26	$1,183,069.75	12.00	08/01/2014	SAPSJ
PENINSULA GAMING LLC	2,483,000.00	0.55	$2,483,000.00	10.75	08/15/2017	PENGAM
PENSON WORLDWIDE INC	2,532,000.00	0.56	$2,519,340.00	12.50	05/15/2017	PNSN
PETROHAWK ENERGY CORP	140,000.00	0.03	$151,200.00	10.50	08/01/2014	HAWK
PETROHAWK ENERGY CORP	2,238,000.00	0.50	$2,254,785.00	7.88	06/01/2015	HAWK
PETROLEUM DEVELOPMENT CORP	2,101,000.00	0.49	$2,179,787.50	12.00	02/15/2018	PETD
PINNACLE ENTERTAINMENT INC	1,386,000.00	0.29	$1,290,712.50	8.75	05/15/2020	PNK
PIONEER DRILLING CO	1,142,000.00	0.25	$1,124,870.00	9.88	03/15/2018	PDC
PLASTIPAK HOLDINGS INC	922,000.00	0.23	$1,028,030.00	10.62	08/15/2019	PLASPK
PLY GEM INDUSTRIES INC	2,542,000.00	0.58	$2,586,485.00	13.12	07/15/2014	PLYGEM
PORT TOWNSEND (REST) PREFERRED	657.00	0.00	$0.00	0.00	N/A	735999005
PORT TOWNSEND (RESTRICTED)	3,285.00	0.00	$32.85	0.00	N/A	73545Q101
PORT TOWNSEND PRIVATE NOTE	962,901.58	0.16	$698,103.65	7.32	08/27/2012	735999015
PORT TOWNSEND WARRANT	657.00	0.00	$6.57	0.00	N/A	735999025
PQ CORP TERM LOAN	2,504,000.00	0.51	$2,278,640.00	6.73	07/30/2015	PQCOR
PREGIS CORP	4,687,000.00	1.04	$4,657,706.25	13.38	10/15/2013	PREGIS
PRIMUS TELECOMMUNICATIONS HOLD	2,038,000.00	0.45	$2,038,000.00	13.00	12/15/2016	PMUG
PUGET SOUND ENERGY INC	1,391,000.00	0.28	$1,278,409.68	6.97	06/01/2067	PSD
QUICKSILVER RESOURCES INC	2,979,000.00	0.62	$2,763,022.50	7.12	04/01/2016	74837RAC8
QUIKSILVER INC	3,390,000.00	0.69	$3,097,612.50	6.88	04/15/2015	ZQK
QUINTILES TRANSNATIONAL CORP	1,012,000.00	0.23	$1,019,590.00	9.50	12/30/2014	QTRN
RABOBANK NEDERLAND NV	2,589,000.00	0.72	$3,206,409.19	11.00	12/29/2049	RABOBK
RADIATION THERAPY SERVICES INC	2,368,000.00	0.51	$2,285,120.00	9.88	04/15/2017	RTSX
RADNET INC	2,368,000.00	0.48	$2,143,040.00	10.38	04/01/2018	RDNT
RBS GLOBAL/REXNORD COR	2,204,000.00	0.52	$2,308,690.00	11.75	08/01/2016	75524DAD2
RITE AID CORP	1,394,000.00	0.26	$1,146,565.00	9.38	12/15/2015	767754BQ6
RSC EQUIPMENT RENTAL INC	1,949,000.00	0.43	$1,946,563.75	9.50	12/01/2014	RSC
RSC EQUIPMENT RENTAL INC/RSC H	215,000.00	0.05	$218,225.00	10.25	11/15/2019	RRR
RYERSON INC	932,000.00	0.19	$871,420.00	7.72	11/01/2014	RYI
RYERSON INC	2,189,000.00	0.50	$2,249,197.50	12.25	11/01/2015	RYI
SANDRIDGE ENERGY INC	1,800,000.00	0.41	$1,836,000.00	9.88	05/15/2016	SD
SANDRIDGE ENERGY INC	1,844,000.00	0.39	$1,761,020.00	8.75	01/15/2020	SD
SANMINA-SCI CORP	2,031,000.00	0.45	$2,010,690.00	8.12	03/01/2016	800907AK3
SECURITIZED NET CASH - ACR1	9,763,216.34	2.18	$9,763,216.34	0.00	N/A	SECCASHAC
SECURITY LENDING COLLATERAL	542,043.32	0.00	$23,036.84	0.00	N/A	SECLENDPL
SELECT MEDICAL CORP	1,620,000.00	0.34	$1,530,900.00	7.62	02/01/2015	SELMED
SERVICEMASTER CO/THE	2,017,000.00	0.47	$2,097,680.00	10.75	07/15/2015	SVM
SHINGLE SPRINGS	2,727,000.00	0.48	$2,174,782.50	9.38	06/15/2015	82459AAA9
SINCLAIR TELEVISION GROUP INC	1,539,000.00	0.35	$1,562,085.00	9.25	11/01/2017	SBGI
SITEL LLC/SITEL FINANCE CORP	2,273,000.00	0.47	$2,113,890.00	11.50	04/01/2018	SITEL
SMITHFIELD FOODS	1,126,000.00	0.24	$1,080,960.00	7.75	07/01/2017	832248AQ1
SOLO CUP CO	1,228,000.00	0.25	$1,108,270.00	8.50	02/15/2014	834260AB7
SPRINT CAPITAL	3,883,000.00	0.83	$3,727,680.00	8.75	03/15/2032	852060AT9
STANDARD PACIFIC CORP	1,071,000.00	0.26	$1,151,325.00	10.75	09/15/2016	SPF
STANDARD PACIFIC CORP	2,010,000.00	0.40	$1,803,975.00	6.00	10/01/2012	SPF CB1
STEEL DYNAMICS INC	1,750,000.00	0.39	$1,750,000.00	7.62	03/15/2020	STLD
SUNGARD DATA SYSTEMS INC	2,063,000.00	0.48	$2,140,362.50	10.25	08/15/2015	SDSINC
SUSSER HOLDINGS LLC / SUSSER F	2,233,000.00	0.50	$2,244,165.00	8.50	05/15/2016	SUSS
TECK RESOURCES LTD	484,000.00	0.13	$571,765.66	10.25	05/15/2016	TCKCN
TELCORDIA TECHNOLOGIES INC	2,802,000.00	0.60	$2,675,910.00	11.00	05/01/2018	TELCOR
TELESAT CANADA / TELESAT LLC	1,127,000.00	0.27	$1,222,795.00	11.00	11/01/2015	TELSAT
TELESAT CANADA / TELESAT LLC	2,933,000.00	0.74	$3,299,625.00	12.50	11/01/2017	TELSAT
TERREMARK WORLDWIDE INC	1,830,000.00	0.46	$2,067,900.00	12.00	06/15/2017	TMRK
TEXAS COMPETITIVE ELECTRIC HOL	3,244,000.00	0.48	$2,157,260.00	10.50	11/01/2015	TXU
THERMADYNE HOLDINGS CORP	2,282,000.00	0.52	$2,321,935.00	11.50	02/01/2014	THMD
TOPS MARKETS LLC	1,984,000.00	0.46	$2,053,440.00	10.12	10/15/2015	TOMA
TREASURY BILL	704,132.17	0.16	$704,132.17	0.00	07/01/2010	B
TRIMAS CORP	1,692,000.00	0.38	$1,721,610.00	9.75	12/15/2017	TRS
TXU CORP	1,458,000.00	0.23	$1,043,016.75	5.55	11/15/2014	873168AL2
UMBRELLA ACQ 144A	1,398,983.00	0.26	$1,171,648.26	9.75	03/15/2015	904201AA8
UNITED AIR LINES INC	2,813,000.00	0.66	$2,939,585.00	12.00	11/01/2013	UAUA
UNIVERSAL HOSPITAL SERVICES IN	874,000.00	0.19	$865,260.00	8.50	06/01/2015	UHOS
UNIVISION COMMUNICATIONS INC	1,401,000.00	0.34	$1,509,577.50	12.00	07/01/2014	UVN
UPC HOLDING BV	790,000.00	0.18	$797,900.00	9.88	04/15/2018	LBTYA
US ONCOLOGY HOLDINGS INC	2,339,000.00	0.49	$2,186,965.00	6.64	03/15/2012	USON
USG CORP	407,000.00	0.09	$425,315.00	9.75	08/01/2014	USG
USGEN ESCROW TRACKING POSITION	1,950,000.00	0.00	$0.00	0.00	N/A	91799ALA7
VERSO PAPER HOLDINGS LLC / VER	2,159,000.00	0.41	$1,851,342.50	11.38	08/01/2016	92531XAF9
VIASAT INC	1,067,000.00	0.24	$1,091,007.50	8.88	09/15/2016	VSAT
VIRGIN MEDIA FINANCE PLC	1,265,000.00	0.29	$1,287,137.50	8.38	10/15/2019	VMED
VISKASE COS INC	583,000.00	0.13	$588,830.00	9.88	01/15/2018	VKSC
VISKASE COS INC	2,012,000.00	0.45	$2,032,120.00	9.88	01/15/2018	VKSC
WEST CORP/OLD	2,360,000.00	0.54	$2,413,100.00	11.00	10/15/2016	952355AF2
WIND ACQUISITION 144A	965,000.00	0.22	$1,003,600.00	12.00	12/01/2015	97314XAA2
WIND ACQUISITION FINANCE SA	2,260,000.00	0.52	$2,327,800.00	11.75	07/15/2017	WINDIM
XL CAPITAL LTD	1,366,000.00	0.21	$956,200.00	6.50	12/31/2049	XL
XM SATELLITE RADIO HOLDINGS IN	5,051,000.00	1.24	$5,543,472.50	13.00	08/01/2013	XMSR
YANKEE ACQUISITION CORP/MA	2,103,000.00	0.48	$2,150,317.50	9.75	02/15/2017	YCC
ZIONS BANCORPORATION	295,000.00	0.06	$278,572.34	5.65	05/15/2014	ZION