UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

OMB APPROVAL

 

OMB Number:    3235-0578
Expires:           May 31, 2007
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FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-5399

 

 

The New America High Income Fund, Inc.

(Exact name of registrant as specified in charter)

 

33 Broad Street, Boston, MA

 

02109

(Address of principal executive offices)

 

(Zip code)

 

Richard E. Floor, 53 State Street, Boston, MA 02109

(Name and address of agent for service)

 

Registrant's telephone number, including area code:

(617) 263-6400

 

 

Date of fiscal year end:

12/31

 

 

 

 

Date of reporting period:

7/1/05 - 9/30/05

 

 



 

Item 1 - Schedule of Investments - September 30, 2005 (Unaudited) (Dollar Amounts in Thousands)

 



 

Principal

 

 

 

Moody’s

 

Value

 

Amount/Units

 

 

 

Rating

 

(Note 1(a))

 

 

 

 

 

(Unaudited)

 

 

 

CORPORATE DEBT SECURITIES - 156.26% (d)

 

 

 

 

 

Aerospace and Defense - 3.59%

 

 

 

 

 

850

 

Aviall, Inc., Senior Notes,
7.625%, 07/01/11

 

B1

 

876

 

1,125

 

BE Aerospace, Inc., Senior Subordinated Notes,
8.875%, 05/01/11

 

Caa2

 

1,180

 

1,625

 

GenCorp Inc., Senior Subordinated Notes,
9.50%, 08/15/13

 

Caa1

 

1,771

 

425

 

Moog, Inc., Senior Subordinated Notes,
6.25%, 01/15/15

 

Ba3

 

427

 

325

 

Moog, Inc., Senior Subordinated Notes,
6.25%, 01/15/15 (g)

 

Ba3

 

327

 

600

 

Sequa Corporation, Senior Notes,
9%, 08/01/09

 

B1

 

638

 

650

 

TransDigm Inc., Senior Subordinated Notes,
8.375%, 07/15/11

 

B3

 

682

 

1,500

 

Vought Aircraft Industries, Inc., Senior Notes,
8%, 07/15/11

 

B2

 

1,433

 

 

 

 

 

 

 

7,334

 

Automobile - 8.73%

 

 

 

 

 

1,125

 

Accuride Corp., Senior Subordinated Notes,
8.50%, 02/01/15

 

B3

 

1,102

 

800

 

ADESA, Inc., Senior Subordinated Notes,
7.625%, 06/15/12

 

B1

 

812

 

1,225

 

American Axle & Manufacturing, Inc., Senior Notes,
5.25%, 02/11/14

 

Baa3

 

1,041

 

675

 

Autocam Corporation, Senior Subordinated
Notes, 10.875%, 06/15/14

 

Caa2

 

459

 

975

 

Cooper Standard Automotive, Inc., Senior Subordinated
Notes, 8.375%, 12/15/14

 

B3

 

819

 

1,125

 

Delphi Corporation, Senior Notes, 7.125%,
05/01/29

 

Ca

 

726

 

2,625

 

Ford Motor Credit Company, Senior Notes,
7%, 10/01/13

 

Baa3

 

2,429

 

1,700

 

Ford Motor Credit Company, Senior Notes,
7.375%, 10/28/09

 

Baa3

 

1,650

 

2,925

 

General Motors Acceptance Corporation, Senior Bonds,
6.75%, 12/01/14

 

Ba1

 

2,553

 

1,275

 

General Motors Acceptance Corporation, Senior Bonds,
8%, 11/01/31

 

Ba1

 

1,116

 

500

 

Hawk Corporation, Senior Notes,
8.75%, 11/01/14

 

B2

 

505

 

700

 

Insurance Auto Auctions, Inc., Senior Notes,
11%, 04/01/13 (g)

 

Caa1

 

721

 

150

 

J.B. Poindexter & Co., Inc., Senior Notes,
8.75%, 03/15/14

 

B1

 

137

 

900

 

Tenneco Automotive Inc., Senior Subordinated Notes,
8.625%, 11/15/14

 

B3

 

907

 

1,507

 

TRW Automotive Inc., Senior Notes,
9.375%, 02/15/13

 

Ba3

 

1,635

 

1,400

 

Visteon Corporation, Senior Notes,
7%, 03/10/14

 

B3

 

1,215

 

 

 

 

 

 

 

17,827

 

Beverage, Food and Tobacco - 3.36%

 

 

 

 

 

281

 

Agrilink Foods, Inc. , Senior Subordinated Notes,
11.875%, 11/01/08

 

B3

 

289

 

550

 

Alliance One International, Inc., Senior Notes,
11%, 05/15/12 (g)

 

B2

 

522

 

925

 

B&G Foods, Inc., Senior Notes,
8%, 10/01/11

 

B2

 

941

 

325

 

Del Monte Corporation, Senior Subordinated
Notes, 6.75%, 02/15/15 (g)

 

B2

 

327

 

275

 

Del Monte Corporation, Senior Subordinated
Notes, 8.625%, 12/15/12

 

B2

 

296

 

400

 

Dole Food Company, Inc., Senior Notes
8.625%, 05/01/09

 

B2

 

416

 

700

 

Dole Food Company, Inc., Senior Notes
8.875%, 03/15/11

 

B2

 

724

 

1,175

 

Le-Nature’s, Inc., Senior Subordinated Notes,
10.00%, 06/15/13 (g)

 

Caa1

 

1,269

 

400

 

Pierre Foods, Inc., Senior Subordinated Notes,
9.875%, 07/15/12

 

B3

 

412

 

1,100

 

R.J. Reynolds Tobacco Holdings, Inc., Senior Notes
6.50%, 07/15/10 (g)

 

Ba2

 

1,097

 

550

 

Wornick Company, Senior Secured Notes,
10.875%, 07/15/11

 

B2

 

566

 

 

 

 

 

 

 

6,859

 

 

 

 

 

 

 

 

 

Broadcasting and Entertainment - 10.85%

 

 

 

 

 

425

 

Allbritton Communications Company, Senior
Subordinated Notes, 7.75%, 12/15/12

 

B3

 

424

 

 

 

 

 

 

 

 

 

325

 

AMC Entertainment, Inc., Senior Notes,
8.625%, 08/15/12

 

B2

 

328

 

 

 

 

 

 

 

 

 

325

 

AMC Entertainment, Inc., Senior Subordinated Notes,
8%, 03/01/14

 

B3

 

286

 

 

 

 

 

 

 

 

 

600

 

CCO Holdings, LLC, Senior Notes,
7.995%, 12/15/10

 

B3

 

594

 

 

 

 

 

 

 

 

 

800

 

CCO Holdings, LLC, Senior Notes,
8.75%, 11/15/13

 

B3

 

792

 

900

 

Charter Communications Operating, LLC, Senior Secured
Notes, 8%, 04/30/12 (g)

 

B2

 

905

 

 

1



 

250

 

Cinemark, Inc., Senior Discount Notes, 9.75%,
03/15/14 (b)(g)

 

Caa1

 

174

 

2,125

 

Cinemark, Inc., Senior Discount Notes, 9.75%,
03/15/14 (b)

 

Caa1

 

1,477

 

175

 

Cinemark USA, Inc., Senior Subordinated Notes,
9%, 02/01/13

 

B3

 

182

 

625

 

CSC Holdings, Inc., Senior Notes,
7%, 04/15/12 (g)

 

B1

 

589

 

1,000

 

CSC Holdings, Inc., Senior Notes,
7.625%, 04/01/11

 

B1

 

985

 

850

 

DirectTV Holdings, LLC, Senior Notes,
6.375%, 06/15/15 (g)

 

Ba2

 

837

 

228

 

DirectTV Holdings, LLC, Senior Notes,
8.375%, 03/15/13

 

Ba2

 

250

 

500

 

EchoStar Communications Corporation, Convertible
Subordinated Notes, 5.75%, 05/15/08

 

B2

 

497

 

500

 

EchoStar DBS Corporation, Senior Notes,
6.625%, 10/01/14

 

Ba3

 

496

 

644

 

EchoStar DBS Corporation, Senior Notes,
9.125%, 01/15/09

 

Ba3

 

681

 

225

 

Fisher Communications, Inc., Senior Notes,
8.625%, 09/15/14

 

B2

 

240

 

850

 

Gray Television, Inc., Senior Subordinated Notes,
9.25%, 12/15/11

 

Ba3

 

916

 

375

 

Insight Midwest, L.P., Senior Notes,
9.75%, 10/01/09

 

B2

 

384

 

750

 

Insight Midwest, L.P., Senior Notes,
10.50%, 11/01/10

 

B2

 

787

 

425

 

Loews Cineplex Entertainment Corporation, Senior
Subordinated Notes, 9%, 08/01/14

 

B3

 

412

 

1,575

 

Marquee Holdings, Inc., Senior Notes,
12%, 08/15/14 (b)

 

Caa1

 

953

 

350

 

Mediacom Broadband LLC, Senior Notes,
8.50%, 10/15/15 (g)

 

B2

 

338

 

600

 

Mediacom Broadband LLC, Senior Notes,
11%, 07/15/13

 

B2

 

646

 

2,475

 

Quebecor Media, Inc., Senior Notes,
11.125%, 07/15/11

 

B2

 

2,707

 

850

 

Rogers Cable Inc., Senior Secured Notes,
6.75%, 03/15/15

 

Ba3

 

858

 

275

 

Sinclair Broadcast Group, Inc., Senior Subordinated
Notes, 8%, 03/15/12

 

B2

 

283

 

825

 

Sinclair Broadcast Group, Inc., Senior Subordinated
Notes, 8.75%, 12/15/11

 

B2

 

866

 

250

 

Videotron Ltee., Senior Notes,
6.375%, 12/15/15 (g)

 

Ba3

 

249

 

825

 

Videotron Ltee., Senior Notes,
6.875%, 01/15/14

 

Ba3

 

848

 

850

 

Warner Music Group, Senior Subordinated Notes,
7.375%, 04/15/14

 

B3

 

855

 

300

 

WDAC Subsidiary Corp. Senior Notes,
8.375%, 12/01/14 (g)

 

Caa1

 

291

 

300

 

XM Satellite Radio Inc., Senior Secured Discount
Notes, 12/31/09 (b)

 

Caa1

 

316

 

614

 

XM Satellite Radio Inc., Senior Secured Notes,
12%, 06/15/10

 

Caa1

 

701

 

 

 

 

 

 

 

22,147

 

Building and Real Estate - 4.99%

 

 

 

 

 

850

 

Ainsworth Lumber Company, Ltd., Senior Notes,
7.25%, 10/01/12

 

B2

 

810

 

625

 

B.F. Saul Real Estate Investment Trust, Senior Secured
Notes, 7.50%, 03/01/14

 

B2

 

645

 

1,250

 

Building Materials Corporation of America, Senior
Notes, 7.75%, 08/01/14

 

B2

 

1,212

 

1,050

 

Collins & Aikman Floorcoverings, Inc., Senior Subordinated
Notes, 9.75%, 02/15/10

 

Caa1

 

1,018

 

275

 

Meristar Hospitality Operating, Senior Notes,
9%, 01/15/08

 

B2

 

286

 

525

 

Meristar Hospitality Operating, Senior Notes,
9.125%, 01/15/11

 

B2

 

559

 

775

 

Mobile Mini, Inc., Senior Notes,
9.50%, 07/01/13

 

B2

 

856

 

1,425

 

Norcraft Companies, L.P., Senior Subordinated
Notes, 9%, 11/01/11

 

B3

 

1,468

 

325

 

Omega Healthcare Investors, Inc., Senior Notes,
7%, 04/01/14

 

B1

 

327

 

875

 

Texas Industries, Inc., Senior Notes,
7.25%, 07/15/13 (g)

 

Ba3

 

917

 

325

 

Ventas Realty, Limited Partnership, Senior Notes,
6.75%, 06/01/10 (g)

 

Ba3

 

331

 

700

 

WCI Communities, Inc., Senior Subordinated
Notes, 9.125%, 05/01/12

 

Ba3

 

725

 

975

 

WCI Communities, Inc., Senior Subordinated
Notes, 10.625%, 02/15/11

 

Ba3

 

1,041

 

 

 

 

 

 

 

10,195

 

Cargo Transport - .21%

 

 

 

 

 

400

 

TFM, S.A. de C.V., Senior Notes,
9.375%, 05/01/12 (g)

 

B2

 

438

 

 

 

 

 

 

 

 

 

Chemicals, Plastics and Rubber - 9.24%

 

 

 

 

 

525

 

ARCO Chemical Company, Senior Debentures,
10.25%, 11/01/10

 

B1

 

567

 

300

 

ARCO Chemical Company, Senior Notes,
9.80%, 02/01/20

 

B1

 

338

 

 

2



 

1,190

 

BCP Caylux Holdings Luxembourg S.C.A., Senior
Subordinated Notes, 9.625%, 06/15/14

 

B3

 

1,330

 

1,475

 

Borden Chemical, Inc., Senior Secured
Notes, 9%, 07/15/14 (g)

 

B3

 

1,519

 

274

 

Crystal US Holdings 3 LLC, Senior Discount Notes,
10%, 10/01/14 (b)

 

Caa2

 

195

 

1,167

 

Crystal US Holdings 3 LLC, Senior Discount Notes,
10.50%, 10/01/14 (b)

 

Caa2

 

817

 

375

 

EquiStar Chemicals PL Funding, Senior Notes,
8.75%, 02/15/09

 

B2

 

393

 

475

 

Ethyl Corporation, Senior Notes,
8.875%, 05/01/10

 

B2

 

499

 

425

 

Freeport McMoran Resources, Senior Notes,
7%, 02/15/08

 

Ba3

 

436

 

600

 

Huntsman International LLC, Senior Notes,
9.875%, 03/01/09

 

B2

 

634

 

959

 

Huntsman LLC, Senior Secured Notes,
11.625%, 10/15/10

 

Ba3

 

1,093

 

2,300

 

Invista, Units,
9.25%, 05/01/12 (g)

 

B1

 

2,507

 

1,250

 

Koppers Inc., Senior Secured Notes,
9.875%, 10/15/13

 

B2

 

1,378

 

400

 

Lyondell Chemical Company, Senior Secured Notes,
9.50%, 12/15/08

 

B1

 

421

 

600

 

Lyondell Chemical Company, Senior Secured Notes,
9.625%, 05/01/07

 

B1

 

630

 

625

 

Lyondell Chemical Company, Senior Secured Notes,
10.50%, 06/01/13

 

B1

 

716

 

200

 

Lyondell Chemical Company, Senior Secured Notes,
11.125%, 07/15/12

 

B1

 

225

 

525

 

PolyOne Corporation, Senior Notes,
10.625%, 05/15/10

 

B3

 

542

 

825

 

Resolution Performance Products, LLC, Senior Secured
Notes, 9.50%, 04/15/10

 

B3

 

854

 

1,825

 

Rhodia S.A., Senior Notes, 10.25%,
06/01/10

 

B3

 

1,946

 

838

 

Rockwood Specialties Group, Inc., Senior
Subordinated Notes, 10.625%, 05/15/11

 

B3

 

926

 

200

 

VWR International, Inc., Senior Notes,
6.875%, 04/15/12

 

B3

 

197

 

725

 

VWR International, Inc., Senior Subordinated Notes,
8%, 04/15/14

 

Caa1

 

707

 

 

 

 

 

 

 

18,870

 

Containers, Packaging and Glass - 9.42%

 

 

 

 

 

625

 

AEP Industries, Inc., Senior Notes,
7.875%, 03/15/13 (g)

 

B2

 

620

 

650

 

Ball Corporation, Senior Notes, 6.875%,
12/15/12

 

Ba2

 

666

 

950

 

Boise Cascade, LLC, Senior Subordinated,
Notes, 7.125%, 10/15/14

 

B2

 

900

 

775

 

BWAY Corporation, Senior Subordinated Notes,
10%, 10/15/10

 

B3

 

818

 

500

 

Georgia-Pacific Corporation, Senior Notes,
8.875%, 02/01/10

 

Ba1

 

556

 

1,500

 

Georgia-Pacific Corporation, Senior Notes,
9.375%, 02/01/13

 

Ba1

 

1,674

 

450

 

Graphic Packaging International Inc., Senior Notes,
8.50%, 08/15/11

 

B2

 

440

 

325

 

Graphic Packaging International Inc., Senior Subordinated,
Notes, 9.50%, 08/15/13

 

B3

 

303

 

350

 

Greif Brothers Corporation, Senior Subordinated
Notes, 8.875%, 08/01/12

 

B1

 

373

 

850

 

Jefferson Smurfit Corporation, (U.S.) Senior Notes,
7.50%, 06/01/13

 

B2

 

761

 

175

 

Jefferson Smurfit Corporation, (U.S.) Senior Notes,
8.25%, 10/01/12

 

B2

 

164

 

800

 

JSG Funding, PLC, Senior Subordinated Notes,
7.75%, 04/01/15

 

Caa1

 

687

 

1,425

 

Longview Fibre Company, Senior Subordinated
Notes, 10%, 01/15/09

 

B2

 

1,507

 

1,410

 

MDP Acquisitions Plc, Senior Notes,
9.625%, 10/01/12

 

B3

 

1,419

 

325

 

NewPage Corporation, Senior Secured Notes,
9.943% , 05/01/12

 

B3

 

307

 

675

 

NewPage Corporation, Senior Secured Notes,
10%, 05/01/12 (g)

 

B3

 

636

 

325

 

NewPage Corporation, Senior Subordinated Notes,
12%, 05/01/13

 

Caa2

 

280

 

825

 

Norske Skog Canada Ltd., Senior Notes
7.375%, 03/01/14

 

Ba3

 

788

 

650

 

Owens-Brockway Glass Container, Inc., Senior
Notes, 8.25%, 05/15/13

 

B2

 

673

 

450

 

Owens-Brockway Glass Container, Inc., Senior Secured
Notes, 7.75%, 05/15/11

 

B1

 

467

 

725

 

Owens-Brockway Glass Container, Inc., Senior Secured
Notes, 8.75%, 11/15/12

 

B1

 

783

 

1,225

 

Owens-Brockway Glass Container, Inc., Senior Secured
Notes, 8.875%, 02/15/09

 

B1

 

1,289

 

1,550

 

Plastipak Holdings, Inc., Senior Notes,
10.75%, 09/01/11

 

B3

 

1,689

 

375

 

Silgan Holdings Inc., Senior Subordinated Notes,
6.75%, 11/15/13

 

B1

 

377

 

450

 

Solo Cup Company, Senior Subordinated Notes,
8.50%, 02/15/14

 

B3

 

405

 

100

 

Stone Container Corporation, Senior Notes,
9.75%, 02/01/11

 

B2

 

101

 

625

 

Stone Container Finance Company of Canada,
Senior Notes, 7.375%, 07/15/14

 

B2

 

555

 

 

 

 

 

 

 

19,238

 

 

 

3



 

Diversified/Conglomerate Manufacturing - 3.53%

 

 

 

 

 

850

 

Aearo Company, Senior Subordinated
Notes, 8.25%, 04/15/12

 

B3

 

848

 

625

 

Bombardier, Inc., Senior Notes,
6.30%, 05/1/14 (g)

 

Ba2

 

556

 

1,750

 

Bombardier, Inc., Senior Notes,
6.75%, 05/01/12 (g)

 

Ba2

 

1,641

 

850

 

Case New Holland Inc., Senior Notes,
9.25%, 08/01/11

 

Ba3

 

899

 

850

 

Columbus McKinnon Corporation, Senior Subordinated
Notes, 8.875%, 11/01/13 (g)

 

B3

 

846

 

550

 

Manitowoc Company, Inc., Senior Notes,
7.125%, 11/01/13

 

B1

 

571

 

1,700

 

Rexnord Corp., Senior Subordinated Notes,
10.125%, 12/15/12

 

B3

 

1,853

 

 

 

 

 

 

 

7,214

 

Diversified/Conglomerate Service - 2.88%

 

 

 

 

 

1,525

 

Brand Services, Inc., Senior Subordinated Notes,
12%, 10/15/12

 

Caa1

 

1,607

 

1,225

 

Brickman Group, LTD, Senior Subordinated Notes,
11.75%, 12/15/09

 

B2

 

1,374

 

914

 

Coinmach Corporation, Senior Notes,
9%, 02/01/10

 

B3

 

932

 

425

 

IKON Office Solutions, Inc., Senior Notes,
7.75%, 09/15/15 (g)

 

Ba2

 

419

 

625

 

NationsRent Companies, Inc., Senior Notes,
9.50%, 10/15/10

 

B2

 

683

 

850

 

Sunstate Equipment Co, LLC, Senior Secured Notes,
10.50%, 04/01/13 (g)

 

B3

 

871

 

 

 

 

 

 

 

5,886

 

Ecological - 2.56%

 

 

 

 

 

1,575

 

Allied Waste North America, Inc., Senior Secured Notes,
7.875%, 04/15/13

 

B2

 

1,616

 

175

 

Allied Waste North America, Inc., Senior Secured Notes,
8.50%, 12/01/08

 

B2

 

182

 

1,050

 

Allied Waste North America, Inc., Senior Secured Notes,
8.875%, 04/01/08

 

B2

 

1,092

 

100

 

Allied Waste North America, Inc., Senior Secured Notes,
9.25%, 09/01/12

 

B2

 

109

 

2,075

 

Casella Waste Systems, Inc., Senior Subordinated
Notes, 9.75%, 02/01/13

 

B3

 

2,231

 

 

 

 

 

 

 

5,230

 

Electronics - 7.42%

 

 

 

 

 

125

 

Activant Solutions, Inc., Senior Notes,
10.065%, 04/01/10 (g)

 

B2

 

127

 

375

 

Amkor Technology, Inc., Senior Notes,
9.25%, 02/15/08

 

Caa1

 

351

 

825

 

Celestica, Inc., Senior Subordinated Notes,
7.875%, 07/01/11

 

B2

 

842

 

850

 

Flextronics International, Inc., Senior Subordinated
Notes, 6.25%, 11/15/14

 

Ba2

 

843

 

650

 

Freescale Semiconductor, Inc., Senior Notes,
6.875%, 07/15/11

 

Ba2

 

676

 

925

 

Freescale Semiconductor, Inc., Senior Notes,
7.125%, 07/15/14

 

Ba2

 

983

 

625

 

General Cable Corporation, Senior Notes,
9.50%, 11/15/10

 

B2

 

659

 

850

 

Invensys plc, Senior Notes,
9.875%, 03/15/11 (g)

 

B3

 

850

 

375

 

New Asat Finance LLC, Senior Notes
9.25%, 02/01/11

 

B3

 

280

 

150

 

Sanmina-SCI Corporation, Senior Secured
Notes, 10.375%, 01/15/10

 

Ba2

 

165

 

725

 

Sanmina-SCI Corporation, Senior Subordinated
Notes, 6.75%, 03/01/13

 

B1

 

687

 

550

 

Semiconductor Note Participation Trust,
10%, 08/04/11(g)

 

(e)

 

924

 

350

 

STATS ChipPAC Ltd., Senior Notes,
6.75%, 11/15/11

 

Ba2

 

340

 

325

 

STATS ChipPAC Ltd., Senior Notes,
7.50%, 07/19/10 (g)

 

Ba2

 

328

 

2,250

 

Sunguard Data Systems, Inc., Senior Notes,
9.125%, 08/15/13 (g)

 

B3

 

2,323

 

975

 

Sunguard Data Systems, Inc., Senior Subordinated
Notes, 10.25%, 08/15/15 (g)

 

Caa1

 

987

 

600

 

Superior Essex Communications LLC, Senior
Notes, 9%, 04/15/12

 

B3

 

606

 

800

 

Telex Communications, Inc., Senior Secured Notes,
11.50%, 10/15/08

 

B3

 

854

 

1,050

 

UGS Corp., Senior Subordinated Notes,
10%, 06/01/12

 

B3

 

1,147

 

450

 

Unisys Corporation, Senior Notes,
8%, 10/15/12

 

Ba3

 

440

 

175

 

Xerox Corp., Senior Notes,
6.875%, 08/15/11

 

Ba2

 

183

 

200

 

Xerox Corp., Senior Notes,
7.20%, 04/01/16

 

Ba2

 

215

 

325

 

Xerox Corp., Senior Notes,
7.625%, 06/15/13

 

Ba2

 

346

 

 

 

 

 

 

 

15,156

 

 

 

4



 

Farming and Agriculture - .62%

 

 

 

 

 

150

 

IMC Global Inc., Senior Notes,
10.875%, 06/01/08

 

Ba3

 

168

 

125

 

IMC Global Inc., Senior Notes,
10.875%, 08/01/13

 

Ba3

 

147

 

100

 

IMC Global Inc., Senior Notes,
11.25%, 06/01/11

 

Ba3

 

109

 

797

 

United Agri Products, Inc., Senior Notes,
8.25%, 12/15/11

 

B1

 

842

 

 

 

 

 

 

 

1,266

 

Finance - 2.78%

 

 

 

 

 

675

 

Dollar Financial Group, Inc., Senior Notes,
9.75%, 11/15/11

 

B3

 

699

 

725

 

E*TRADE Financial Corp., Senior Notes,
7.375%, 09/15/13 (g)

 

B1

 

729

 

2,300

 

E*TRADE Financial Corp., Senior Notes,
8%, 06/15/11

 

B1

 

2,375

 

1,100

 

Global Cash Access Inc., Senior Subordinated Notes,
8.75%, 03/15/12

 

Caa1

 

1,184

 

625

 

REFCO Group Ltd., LLC, Senior Subordinated Notes,
9%, 08/01/12

 

B3

 

680

 

 

 

 

 

 

 

5,667

 

Furnishings, Housewares, Durable Consumer Products - .73%

 

 

 

 

 

1,050

 

Sealy Mattress Company, Senior Subordinated
Notes, 8.25%, 06/15/14

 

B3

 

1,045

 

875

 

Simmons Company, Senior Discount Notes,
10%, 12/15/14 (b)(g)

 

Caa2

 

448

 

 

 

 

 

 

 

1,493

 

Grocery - .29%

 

 

 

 

 

625

 

Pathmark Stores, Inc., Senior Subordinated Notes,
8.75%, 02/01/12

 

Caa1

 

598

 

 

 

 

 

 

 

 

 

Healthcare, Education and Childcare - 8.63%

 

 

 

 

 

525

 

AmerisourceBergen Corporation, Senior Notes,
5.625%, 09/15/12 (g)

 

Ba2

 

520

 

700

 

Biovail Corporation, Senior Subordinated Notes,
7.875%, 04/01/10

 

B2

 

724

 

375

 

Community Health Systems, Inc., Senior Subordinated
Notes, 6.50%, 12/15/12

 

B3

 

376

 

1,425

 

Concentra Operating Corporation, Senior Subordinated
Notes, 9.50%, 08/15/10

 

B3

 

1,489

 

325

 

Davita, Inc., Senior Notes,
6.625%, 03/15/13

 

B2

 

329

 

825

 

Davita, Inc., Senior Subordinated Notes,
7.25%, 03/15/15

 

B3

 

836

 

825

 

Fisher Scientific International Inc., Senior
Subordinated Notes, 6.125%, 07/01/15 (g)

 

Ba3

 

822

 

575

 

Fresenius Medical Care Capital Trust IV,
7.875%, 06/15/11

 

B1

 

620

 

1,125

 

Genesis Healthcare Corporation, Senior Subordinated
Notes, 8%, 10/15/13

 

B3

 

1,212

 

875

 

HCA Inc., Senior Notes,
6.375%, 01/15/15

 

Ba2

 

869

 

1,800

 

HCA Inc., Senior Notes,
8.75%, 09/01/10

 

Ba2

 

1,993

 

350

 

MedQuest, Inc., Senior Subordinated Notes,
11.875%, 08/15/12

 

Caa1

 

370

 

550

 

Mylan Laboratories, Inc., Senior Notes,
5.75%, 08/15/10 (g)

 

Ba1

 

551

 

1,175

 

Omnicare, Inc., Senior Subordinated Notes,
8.125%, 03/15/11

 

Ba2

 

1,225

 

1,125

 

Quintiles Transnational Corp., Senior Subordinated
Notes, 10%, 10/01/13

 

B3

 

1,266

 

450

 

Tenet Healthcare Corporation, Senior Notes,
6.50%, 06/01/12

 

B3

 

421

 

300

 

Tenet Healthcare Corporation, Senior Notes,
7.375%, 02/01/13

 

B3

 

285

 

500

 

Tenet Healthcare Corporation, Senior Notes,
9.875%, 07/01/14

 

B3

 

523

 

1,300

 

Triad Hospitals, Inc., Senior Subordinated
Notes, 7%, 11/15/13

 

B3

 

1,316

 

775

 

US Oncology, Inc., Senior Notes,
9%, 08/15/12

 

B2

 

837

 

525

 

Vanguard Health Holding Company II, LLC, Senior
Subordinated Notes, 9%, 10/01/14

 

Caa1

 

562

 

500

 

Warner Chilcott Corporation, Senior Subordinated
Notes, 8.75%, 02/01/15 (g)

 

Caa1

 

480

 

 

 

 

 

 

 

17,626

 

Hotels, Motels, Inns and Gaming - 8.99%

 

 

 

 

 

1,100

 

American Casino & Entertainment Properties LLC,
Senior Secured Notes, 7.85%, 02/01/12

 

B2

 

1,141

 

1,000

 

Ameristar Casinos, Inc., Senior Subordinated Notes,
10.75%, 02/15/09

 

B2

 

1,070

 

450

 

Argosy Gaming Company, Senior Subordinated Notes,
7%, 01/15/14

 

B1

 

498

 

75

 

Argosy Gaming Company, Senior Subordinated Notes,
9%, 09/01/11

 

Ba3

 

82

 

1,000

 

Boyd Gaming Corporation, Senior Subordinated Notes,
6.75%, 04/15/14

 

B1

 

1,010

 

 

 

5



 

100

 

Boyd Gaming Corporation, Senior Subordinated Notes,
7.75%, 12/15/12

 

B1

 

106

 

25

 

Boyd Gaming Corporation, Senior Subordinated Notes,
8.75%, 04/15/12

 

B1

 

27

 

525

 

CCM Merger, Inc., Senior Notes,
8%, 08/01/13 (g)

 

B3

 

532

 

700

 

Herbst Gaming, Inc., Senior Subordinated Notes,
7%, 11/15/14

 

B3

 

700

 

100

 

Host Marriott, L.P., Senior Notes,
6.375%, 03/15/15

 

Ba3

 

97

 

625

 

Host Marriott, L.P., Senior Notes,
7.125%, 11/01/13

 

Ba3

 

641

 

1,775

 

La Quinta Properties, Inc., Senior Notes,
8.875%, 03/15/11

 

Ba3

 

1,899

 

600

 

Mandalay Resort Group, Senior Subordinated Notes,
10.25%, 08/01/07

 

Ba3

 

645

 

825

 

MGM MIRAGE, Senior Notes,
9.75%, 06/01/07

 

Ba3

 

877

 

525

 

MGM MIRAGE, Senior Secured Notes,
6%, 10/01/09

 

Ba2

 

518

 

1,500

 

MGM MIRAGE, Senior Secured Notes,
8.50%, 09/15/10

 

Ba2

 

1,631

 

125

 

Mohegan Tribal Gaming Authority, Senior Notes,
6.125%, 02/15/13

 

Ba2

 

124

 

575

 

Mohegan Tribal Gaming Authority, Senior Subordinated
Notes, 6.875%, 02/15/15

 

Ba3

 

584

 

1,100

 

Mohegan Tribal Gaming Authority, Senior Subordinated
Notes, 8%, 04/01/12

 

Ba3

 

1,165

 

400

 

Penn National Gaming, Inc., Senior Subordinated
Notes, 6.75%, 03/01/15

 

B3

 

394

 

650

 

Poster Financial group, Inc., Senior Notes,
8.75%, 12/01/11

 

B2

 

669

 

75

 

Resorts International Hotel and Casino, Inc., Senior
Notes, 11.50%, 03/15/09

 

B2

 

84

 

150

 

Seneca Gaming Corporation, Senior Notes,
7.25%, 05/01/12 (g)

 

B1

 

153

 

525

 

Station Casinos, Inc., Senior Notes,
6%, 04/01/12

 

Ba2

 

525

 

125

 

Station Casinos, Inc., Senior Subordinated Notes,
6.50%, 02/01/14

 

Ba3

 

125

 

325

 

Station Casinos, Inc., Senior Subordinated Notes,
6.875%, 03/01/16 (g)

 

Ba3

 

330

 

1,475

 

Station Casinos, Inc., Senior Subordinated Notes,
6.875%, 03/01/16

 

Ba3

 

1,497

 

650

 

Trump Entertainment ResortsHoldings, L.P., Senior
Secured Notes, 8.50%, 06/01/15

 

Caa1

 

629

 

625

 

Wynn Las Vegas, LLC, Senior Secured Notes,
6.625%, 12/01/14

 

B2

 

595

 

 

 

 

 

 

 

18,348

 

Leisure, Amusement and Entertainment - 3.75%

 

 

 

 

 

800

 

AMF Bowling Worldwide, Inc. Senior Subordinated Notes,
10%, 03/01/10

 

Caa1

 

798

 

1,750

 

Eastman Kodak Company, Senior Notes,
7.25%, 11/15/13

 

B1

 

1,706

 

575

 

Equinox Holdings, Inc., Senior Notes,
9%, 12/15/09

 

B3

 

591

 

775

 

K2 Inc., Senior Notes,
7.375%, 07/01/14

 

Ba3

 

775

 

325

 

Six Flags Inc., Senior Notes,
8.875%, 02/01/10

 

Caa1

 

322

 

150

 

Six Flags Inc., Senior Notes,
9.625%, 06/01/14

 

Caa1

 

148

 

275

 

Six Flags Inc., Senior Notes,
9.75%, 04/15/13

 

Caa1

 

272

 

800

 

Town Sports International, Inc., Senior Notes,
9.625%, 04/15/11

 

B2

 

830

 

1,350

 

Universal City Development Partners, Ltd., Senior
Notes, 11.75%, 04/01/10

 

B2

 

1,525

 

650

 

Universal City Florida Holding Co., Senior Notes,
8.375%, 05/01/10

 

B3

 

678

 

 

 

 

 

 

 

7,645

 

Machinery - .39%

 

 

 

 

 

747

 

JLG Industries, Inc., Senior Subordinated Notes,
8.375%, 06/15/12

 

B3

 

791

 

Mining, Steel, Iron and Non-Precious Metals - 5.83%

 

 

 

 

 

475

 

Aleris International, Inc., Senior Notes,
9%, 11/15/14

 

(e)

 

504

 

825

 

Alpha Natural Resources, LLC, Senior Notes,
10%, 06/01/12

 

B3

 

922

 

450

 

Century Aluminum Company, Senior Notes,
7.50%, 08/15/14

 

B1

 

463

 

1,525

 

Earle M. Jorgensen Company, Senior Secured
Notes, 9.75%, 06/01/12

 

B2

 

1,639

 

825

 

Foundation PA Coal Company, Senior Notes,
7.25%, 08/01/14

 

B1

 

862

 

750

 

Gerdau Ameristeel Corporation, Senior Notes,
10.375%, 07/15/11

 

Ba3

 

832

 

825

 

James River Coal Company, Senior Notes,
9.375%, 06/01/12

 

B3

 

883

 

725

 

Luscar Coal Ltd., Senior Notes,
9.75%, 10/15/11

 

Ba3

 

785

 

675

 

Massey Energy Company, Senior Notes,
6.625%, 11/15/10

 

Ba3

 

687

 

500

 

Neenah Foundry Company, Senior Secured Notes,
11%, 09/30/10 (g)

 

B2

 

555

 

 

 

6



 

850

 

Novelis, Inc., Senior Notes,
7.25%, 02/15/15 (g)

 

B1

 

816

 

2,000

 

Peabody Energy Corporation, Senior Notes,
6.875%, 03/15/13

 

Ba3

 

2,090

 

850

 

Valmont Industries, Inc., Senior Subordinated Notes,
6.875%, 05/01/14

 

Ba3

 

869

 

 

 

 

 

 

 

11,907

 

Oil and Gas - 13.03%

 

 

 

 

 

2,500

 

AmeriGas Partners, L.P., Senior Notes,
7.25%, 05/20/15 (g)

 

B2

 

2,616

 

800

 

CHC Helicopter Corporation, Senior Subordinated
Notes, 7.375%, 05/01/14

 

B2

 

820

 

250

 

Chesapeake Energy Corporation, Senior Notes,
6.25%, 01/15/18

 

Ba2

 

245

 

450

 

Chesapeake Energy Corporation, Senior Notes,
6.375%, 06/15/15

 

Ba2

 

453

 

1,425

 

Chesapeake Energy Corporation, Senior Notes,
6.625%, 01/15/16 (g)

 

Ba2

 

1,446

 

175

 

Chesapeake Energy Corporation, Senior Notes,
7%, 08/15/14

 

Ba2

 

185

 

125

 

Compton Petroleum Corporation, Senior Notes,
9.90%, 05/15/09

 

B2

 

134

 

750

 

Denbury Resources, Inc., Senior Subordinated Notes,
7.50%, 04/01/13

 

B2

 

791

 

286

 

Dresser-Rand Group Inc., Senior Subordinated
Notes, 7.375%, 11/01/14 (g)

 

B3

 

296

 

400

 

El Paso Production Holding Co., Senior Notes
7.75%, 06/01/13

 

B3

 

419

 

1,450

 

Ferrellgas Partners L.P., Senior Notes,
8.75%, 06/15/12

 

B2

 

1,475

 

325

 

Grant Pride Company, Inc., Senior Notes,
6.125%, 08/15/15 (g)

 

Ba2

 

328

 

1,050

 

Hanover Equipment Trust, Senior Secured Notes,
8.75%, 09/01/11

 

B2

 

1,116

 

500

 

Inergy, L.P., Senior Notes,
6.875%, 12/15/14 (g)

 

B1

 

481

 

650

 

Magnum Hunter Resources, Inc., Senior Notes,
9.60%, 03/15/12

 

Ba3

 

712

 

200

 

Northwest Pipeline Corporation, Senior Notes,
8.125%, 03/01/10

 

Ba2

 

214

 

625

 

Ocean Rig Norway AS, Senior Secured Notes,
8.375%, 07/01/13 (g)

 

B3

 

677

 

130

 

Parker Drilling Company, Senior Notes,
10.125%, 11/15/09

 

B2

 

136

 

1,500

 

Petroleum Geo-Services ASA, Senior Notes,
10%, 11/05/10

 

Ba3

 

1,687

 

950

 

Petroleum Helicopters, Inc., Senior Notes,
9.375%, 05/01/09

 

B1

 

1,009

 

775

 

Plains Exploration & Production Co., L.P., Senior
Subordinated Notes, 8.75%, 07/01/12

 

Ba3

 

839

 

525

 

Pogo Producing Company, Senior Subordinated
Notes, 6.875%, 10/01/17 (g)

 

Ba3

 

532

 

600

 

Pride International, Inc., Senior Notes,
7.375%, 07/15/14

 

Ba2

 

648

 

350

 

Range Resources Corporation, Senior Subordinated
Notes, 6.375%, 03/15/15

 

B3

 

353

 

500

 

Range Resources Corporation, Senior Subordinated
Notes, 7.375%, 07/15/13

 

B3

 

535

 

375

 

Southern Natural Gas Company, Senior Notes,
8.875%, 03/15/10

 

B1

 

406

 

1,100

 

Stone Energy Corporation, Senior Subordinated Notes,
8.25%, 12/15/11

 

B2

 

1,163

 

500

 

Swift Energy Company, Senior Notes,
7.625%, 07/15/11

 

B1

 

515

 

925

 

Universal Compression, Inc., Senior
Notes, 7.25%, 05/15/10

 

Ba3

 

960

 

675

 

Whiting Petroleum Corporation, Senior Subordinated
Notes, 7.25%, 05/01/13

 

B2

 

684

 

425

 

Whiting Petroleum Corporation, Senior Subordinated
Notes, 7%, 02/01/14 (g)

 

B2

 

431

 

175

 

Williams Companies, Inc., Senior Notes,
7.625%, 07/15/19

 

B1

 

190

 

3,725

 

Williams Companies, Inc., Senior Notes,
8.125%, 03/15/12

 

B1

 

4,098

 

 

 

 

 

 

 

26,594

 

Personal, Food and Miscellaneous Services - 3.03%

 

 

 

 

 

425

 

El Pollo Loco, Inc., Senior Secured Notes,
9.25%, 12/15/09

 

B2

 

461

 

908

 

FTD, Inc., Senior Subordinated Notes,
7.75%, 02/15/14

 

B3

 

910

 

525

 

FTI Consulting, Inc., Senior Notes,
7.625%, 06/15/13 (g)

 

Ba2

 

535

 

700

 

Landry’s Restaurants, Inc., Senior Notes,
7.50%, 12/15/14

 

B2

 

665

 

600

 

Mac-Gray Corporation, Senior Notes,
7.625%, 08/15/15 (g)

 

B1

 

612

 

850

 

O’Charleys, Inc., Senior Subordinated Notes,
9%, 11/01/13

 

Ba3

 

907

 

425

 

Real Mex Restaurants, Inc., Senior Notes,
10.00%, 04/01/10

 

B2

 

455

 

675

 

Restaurant Company, Senior Notes,
10%, 10/01/13 (g)

 

B2

 

648

 

1,125

 

Worldspan, L.P., Senior Notes,
10.04%, 02/15/11(g)

 

B3

 

993

 

 

 

 

 

 

 

6,186

 

 

 

7



 

Personal Non-Durable Consumer Products - 2.33%

 

 

 

 

 

800

 

ACCO Brands Corporation, Senior Subordinated
Notes, 7.625%, 08/15/15 (g)

 

B2

 

790

 

1,050

 

American Achievement Corporation, Senior Subordinated
Notes, 8.25%, 04/01/12

 

B3

 

1,071

 

575

 

Chattem, Inc., Senior Subordinated Notes,
7%, 03/01/14

 

B2

 

586

 

325

 

Church & Dwight Company, Inc., Senior Subordinated
Notes, 6%, 12/15/12

 

Ba3

 

317

 

425

 

Quicksilver, Inc., Senior Notes,
6.875%, 04/15/15 (g)

 

B1

 

410

 

700

 

Rayovac Corporation, Senior Subordinated Notes,
8.50%, 10/01/13

 

B3

 

674

 

1,025

 

Spectrum Brands, Inc., Senior Subordinated Notes,
7.375%, 02/01/15

 

B3

 

917

 

 

 

 

 

 

 

4,765

 

Printing and Publishing - 8.61%

 

 

 

 

 

450

 

Advanstar Communications Inc., Senior Notes,
10.75%, 08/15/10

 

B3

 

506

 

575

 

Advanstar Communications Inc., Senior Subordinated
Notes, 12%, 02/15/11

 

Caa2

 

614

 

675

 

Advanstar Inc., Senior Discount Debentures,
15%, 10/15/11 (b)

 

(e)

 

695

 

850

 

Affinity Group Inc., Senior Subordinated Notes,
9%, 02/15/12

 

B3

 

848

 

365

 

Affinity Group Inc., Senior Subordinated Notes,
10.875%, 02/15/12

 

Caa1

 

348

 

1,878

 

CanWest Media, Inc., Senior Subordinated Notes,
8%, 09/15/12 (g)

 

B2

 

1,990

 

950

 

CanWest Media, Inc., Senior Subordinated Notes,
10.625%, 05/15/11

 

B2

 

1,026

 

635

 

Cenveo Corporation, Senior Notes,
9.625%, 03/15/12

 

B1

 

676

 

1,137

 

Dex Media East LLC, Senior Subordinated Notes,
12.125%, 11/15/12

 

B2

 

1,330

 

650

 

Dex Media West LLC, Senior Notes,
8.50%, 08/15/10

 

B1

 

689

 

800

 

Dex Media West LLC, Senior Subordinated Notes,
9.875%, 08/15/13

 

B2

 

884

 

475

 

Haights Cross Communications Operating Company,
Senior Notes, 11.75%, 08/15/11

 

Caa1

 

515

 

600

 

Houghton Mifflin Company, Senior Notes,
8.25%, 02/01/11

 

B3

 

622

 

475

 

Houghton Mifflin Company, Senior Subordinated
Notes, 9.875%, 02/01/13

 

Caa1

 

504

 

950

 

Jostens Intermediate Holding Corp., Senior
Subordinated Notes, 7.625%, 10/01/12

 

B3

 

959

 

770

 

Lamar Advertising Company, Convertible Notes,
2.875%, 12/31/10

 

B2

 

822

 

525

 

Lamar Media Corporation, Senior Subordinated Notes,
6.625%, 08/15/15 (g)

 

Ba3

 

533

 

225

 

MediaNews Group, Inc., Senior Subordinated Notes,
6.375%, 04/01/14

 

B2

 

213

 

650

 

MediaNews Group, Inc., Senior Subordinated Notes,
6.875%, 10/01/13

 

B2

 

644

 

725

 

Morris Publishing Group, LLC, Senior Subordinated
Notes, 7%, 08/01/13

 

Ba3

 

710

 

1,900

 

R.H. Donnelley Inc., Senior
Subordinated Notes, 10.875%, 12/15/12

 

B2

 

2,133

 

300

 

Vertis, Inc., Senior Secured Notes,
9.75%, 04/01/09

 

B3

 

310

 

 

 

 

 

 

 

17,571

 

Retail Stores - 4.97%

 

 

 

 

 

1,000

 

Alimentation Couche-Tard, Inc., Senior Subordinated
Notes, 7.50%, 12/15/13

 

Ba3

 

1,033

 

1,225

 

Amazon.com, Inc., Convertible Subordinated Notes,
4.75%, 02/01/09

 

B3

 

1,201

 

2,600

 

GameStop Corporation, Senior Notes,
8%, 10/01/12 (g)

 

Ba3

 

2,587

 

525

 

Gregg Appliances, Inc., Senior Notes,
9%, 02/01/13 (g)

 

B2

 

493

 

975

 

Jean Coutu Group, Inc., Senior Notes,
7.625%, 08/01/12

 

B2

 

994

 

1,000

 

Jean Coutu Group, Inc., Senior Subordinated Notes,
8.50%, 08/01/14

 

B3

 

995

 

1,150

 

Leslie’s Poolmart, Inc., Senior Notes,
7.75%, 02/01/13

 

B2

 

1,161

 

800

 

Movie Gallery, Inc., Senior Notes,
11%, 05/01/12

 

B3

 

714

 

1,025

 

Nebraska Book Company, Inc., Senior Subordinated
Notes, 8.625%, 03/15/12

 

Caa1

 

963

 

 

 

 

 

 

 

10,141

 

Telecommunications - 16.88%

 

 

 

 

 

1,872

 

Alamosa (Delaware), Inc., Senior Notes,
11%, 07/31/10

 

Caa1

 

2,111

 

100

 

American Cellular Corporation, Senior Notes,
10%, 08/01/11

 

B3

 

109

 

800

 

American Tower Corporation, Senior Notes,
7.125%, 10/15/12

 

B1

 

840

 

125

 

American Tower Corporation, Senior Notes,
7.50%, 05/01/12

 

B1

 

132

 

 

 

8



 

150

 

American Towers Corporation, Senior Subordinated Notes,
7.25%, 12/01/11

 

Ba2

 

159

 

1,050

 

AT&T Corporation, Senior Notes,
9.05%, 11/15/11

 

Ba1

 

1,183

 

875

 

Centennial Communications Corp.,
Senior Notes, 8.125%, 02/01/14

 

B3

 

927

 

350

 

Centennial Communications Corp.,
Senior Notes, 10.125%, 06/15/13

 

B3

 

392

 

900

 

Digicel Unlimited, Senior Notes,
9.25%, 09/01/12 (g)

 

B3

 

944

 

600

 

Dobson Cellular Systems, Inc., Senior Notes
9.875%, 11/01/12

 

B2

 

658

 

525

 

Dobson Communications Corporation, Senior Notes,
8.875%, 10/01/13

 

Caa2

 

528

 

1,025

 

Eircom Funding plc, Senior Subordinated Notes,
8.25%, 08/15/13

 

B1

 

1,116

 

425

 

Horizon PCS, Inc., Senior Notes,
11.375%, 07/15/12

 

B3

 

489

 

104

 

Inmarsat Finance, plc, Senior Notes,
7.625%, 06/30/12

 

B1

 

107

 

1,425

 

Intelsat, Ltd., Senior Notes,
8.695%, 01/15/12 (g)

 

B2

 

1,453

 

450

 

iPCS Escrow Company, Senior Notes,
11.50%, 05/01/12

 

B3

 

513

 

425

 

IWO Holdings, Inc., Senior Discount Notes,
01/15/15 (b)

 

Caa2

 

296

 

1,050

 

Leucadia National Corporation, Senior Notes,
7%, 08/15/13

 

B2

 

1,054

 

875

 

L-3 Communications Corporation, Senior Subordinated
Notes, 6.375%, 10/15/15 (g)

 

Ba3

 

879

 

975

 

MCI, Inc., Senior Notes,
7.688%, 05/01/09

 

B2

 

1,013

 

1,800

 

NEXTEL Communications, Inc., Senior Notes,
6.875%, 10/31/13

 

Baa2

 

1,913

 

1,375

 

NEXTEL Communications, Inc., Senior Notes,
7.375%, 08/01/15

 

Baa2

 

1,475

 

725

 

Nextel Partners, Inc., Senior Notes,
8.125%, 07/01/11

 

Ba3

 

783

 

924

 

PanAmSat Corporation, Senior Notes,
9%, 08/15/14

 

B1

 

977

 

100

 

PanAmSat Holdco, Senior Discount Notes,
10.375%, 11/01/14 (b)

 

B3

 

69

 

1,025

 

Qwest Communications International, Inc., Notes
7.875%, 09/01/11

 

Ba3

 

1,071

 

825

 

Qwest Corporation, Notes,
7.12%, 06/15/13 (g)

 

Ba3

 

858

 

2,197

 

Qwest Services Corp., Senior Subordinated
Notes, 13.50%, 12/15/10

 

Caa1

 

2,518

 

375

 

Rogers Wireless Inc., Senior Secured Notes,
7.50%, 03/15/15

 

Ba3

 

404

 

2,400

 

Rogers Wireless Inc., Senior Secured Notes,
8%, 12/15/12

 

B2

 

2,532

 

1,000

 

Rogers Wireless Inc., Senior Secured Notes,
9.625%, 05/01/11

 

Ba3

 

1,150

 

475

 

Rural Cellular Corporation, Senior Notes,
9.875%, 02/01/10

 

Caa1

 

498

 

175

 

Rural Cellular Corporation, Senior Subordinated Notes,
9.625%, 05/15/08

 

Caa2

 

175

 

75

 

Rural Cellular Corporation, Senior Subordinated Notes,
9.75%, 01/15/10

 

Caa2

 

76

 

650

 

Syniverse Technologies, Inc., Senior Subordianted
Notes, 7.75%, 08/15/13 (g)

 

B2

 

656

 

875

 

Time Warner Telecom, Inc., Senior Notes,
10.125%, 02/01/11

 

B3

 

901

 

875

 

Time Warner Telecom, LLC, Senior Notes,
9.75%, 07/15/08

 

B3

 

888

 

800

 

UbiquiTel Operating Co., Senior Notes,
9.875%, 03/01/11

 

Caa1

 

888

 

625

 

US LEC Corporation, Senior Notes,
12.716%, 10/01/09

 

B3

 

644

 

950

 

US Unwired Inc., Senior Secured Notes,
10%, 06/15/12

 

Caa1

 

1,089

 

 

 

 

 

 

 

34,468

 

Textiles and Leather - .46%

 

 

 

 

 

100

 

Interface, Inc., Senior Subordinated Notes,
9.50%, 02/01/14

 

Caa3

 

101

 

850

 

Rafaella Apparel Group, Inc., Senior Secured,
11.25%, 06/15/11(g)

 

B2

 

829

 

 

 

 

 

 

 

930

 

Utilities - 8.16%

 

 

 

 

 

350

 

The AES Corporation, Senior Notes,
7.75%, 03/01/14

 

B1

 

374

 

725

 

The AES Corporation, Senior Notes,
9.375%, 09/15/10

 

B1

 

799

 

1,700

 

The AES Corporation, Senior Secured Notes,
9%, 05/15/15 (g)

 

Ba3

 

1,870

 

1,050

 

Allegheny Energy Supply Company, LLC,
Senior Notes, 8.25%, 04/15/12 (g)

 

Ba3

 

1,179

 

1,125

 

Midwest Generation, LLC, Senior Secured Notes,
8.75%, 05/01/34

 

B1

 

1,257

 

 

 

9



 

675

 

Mirant Americas Generation, Senior Notes,
8.30%, 05/01/11(a)

 

(e)

 

840

 

2,085

 

NRG Energy, Inc., Senior Secured Notes,
8%, 12/15/13

 

B1

 

2,221

 

1,650

 

Orion Power Holdings, Inc., Senior Notes,
12%, 05/01/10

 

B2

 

1,984

 

700

 

Roseton-Danskammer 2001, Senior Secured Notes,
7.27%, 11/08/10

 

Caa2

 

695

 

1,775

 

Sierra Pacific Resources, Senior Notes,
8.625%, 03/15/14

 

B1

 

1,952

 

1,500

 

TECO Energy, Inc., Senior Notes,
7%, 05/01/12

 

Ba2

 

1,584

 

1,250

 

Texas Genco LLC, Senior Notes,
6.875%, 12/15/14 (g)

 

B1

 

1,272

 

600

 

Utilicorp Canada Financial Corporation, Senior Notes,
7.75%, 06/15/11

 

B2

 

630

 

 

 

 

 

 

 

16,657

 

 

 

Total Corporate Debt Securities
(Total cost of $317,923)

 

 

 

319,047

 

 

 

 

 

 

 

 

 

Shares

 

 

 

 

 

 

 

PREFERRED STOCK - 1.20% (d)

 

 

 

 

 

Banking - 0.00%

 

 

 

 

 

57,935

 

WestFed Holdings, Inc., Cumulative, Series A,
Preferred Stock, 15.50% (a)(c)

 

(e)

 

 

 

 

 

 

 

 

 

 

Broadcasting and Entertainment - .17%

 

 

 

 

 

316

 

Spanish Broadcasting System, Inc.,Series B,
Preferred Stock, 10.75%

 

Caa1

 

338

 

 

 

 

 

 

 

 

 

Mining, Steel, Iron, Non-Precious Metals - 0.00%

 

 

 

 

 

18,000

 

Weirton Steel Corporation, Series C
Preferred Stock (a)(c)

 

(e)

 

 

 

 

 

 

 

 

 

 

Telecommunications - .80%

 

 

 

 

 

1,625

 

Lucent Technologies
Convertible Trust Preferred, 7.75%,

 

B3

 

1,643

 

 

 

 

 

 

 

 

 

Utilities - .23%

 

 

 

 

 

375

 

NRG Energy, Inc., Convertible Preferred Stock,
4%, (g)

 

B3

 

467

 

 

 

Total Preferred Stock (Total cost of $7,636)

 

 

 

2,448

 

 

 

 

 

 

 

COMMON STOCK and WARRANTS - 0.00% (d)

 

 

 

 

 

27,474

 

WestFed Holdings, Inc.,
Common Stock (a)(c)

 

 

 

 

10,052

 

WKI Holding Company, Inc.,
Common Stock (c)(f)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Common Stock and Warrants
(Total cost of $2,295)

 

 

 

 

 

 

 

 

 

 

 

 

Principal
Amount

 

 

 

 

 

 

 

SHORT-TERM INVESTMENTS - 1.83% (d)

 

 

 

 

 

 

 

 

 

 

 

 

 

3,746

 

PACCAR Financial Corporation,
Commercial Paper, Due 10/03/05,
Discount of 3.79%

 

P-1

 

3,745

 

 

 

 

 

 

 

 

 

 

 

Total Short-Term Investments
(Total cost of $3,745)

 

 

 

3,745

 

 

 

 

 

 

 

 

 

Total Investments (Total cost of $331,599)

 

 

 

$

325,240

 

 


(a)          Denotes issuer is in bankruptcy proceedings. Income is not being accrued.

 

(b)         Securities are step interest bonds.Interest on these bonds accrues based on the effective interest method which results in a constant rate of interest being recognized.

 

(c)          Security is valued at fair value using methods determined by the Board of Directors. The total value of these securities at September 30, 2005 was $0.

 

(d)         Percentages indicated are based on total net assets to common shareholders of $204,182.

 

(e)          Not rated.

 

(f)            Non-income producing.

 

(g)         Securities are exempt from registration under Rule 144A of the Securities Act of 1933.Such securities may be resold, normally to qualified institutional buyers in transactions exempt from registration.Unless otherwise noted, 144A Securities are deemed to be liquid.See Note 1(a) of the Notes to Financial Statements for vaulation policy.Total market value of Rule 144A securities amounted to $57,227 as of September 30, 2005.

 

10



 

Note 1 to Schedule of Investments - September 30, 2005 (Unaudited)

 

Significant Accounting and Other Policies

 

The New America High Income Fund, Inc. (the Fund) was organized as a corporation in the state of Maryland on November 19, 1987 and is registered with the Securities and Exchange Commission as a diversified, closed-end investment company under the Investment Company Act of 1940. The Fund commenced operations on February 26, 1988. The investment objective of the Fund is to provide high current income while seeking to preserve stockholders’ capital through investment in a professionally managed, diversified portfolio of “high yield” fixed-income securities.

 

The Fund invests primarily in fixed maturity corporate debt securities that are rated less than investment grade.  Risk of loss upon default by the issuer is significantly greater with respect to such securities compared to investment grade securities because these securities are generally unsecured and are often subordinated to other creditors of the issuer and because these issuers usually have high levels of indebtedness and are more sensitive to adverse economic conditions, such as a recession, than are investment grade issuers. In some cases, the collection of principal and timely receipt of interest is dependent upon the issuer attaining improved operating results, selling assets or obtaining additional financing.

 

The Fund may focus its investments in certain industries, subjecting it to greater risk than a Fund that is more diversified.  See the schedule of investments for information on individual securities as well as industry diversification and credit quality ratings.

 

Valuation of Investments—Investments for which market quotations are readily available are stated at market value, which is determined by using the most recently quoted bid price provided by an independent pricing service or principal market maker.  Independent pricing services provide market quotations based primarily on quotations from dealers and brokers, market transactions, accessing data from quotations services, offering sheets obtained from dealers and various relationships between securities. Short-term investments with original maturities of 60 days or less are stated at amortized cost, which approximates market value. Following procedures approved by the Board of Directors, investments for which market quotations are not readily available (primarily fixed-income corporate bonds and notes) are stated at fair value on the basis of subjective valuations furnished by securities dealers and brokers. Other investments, for which market quotations are not readily available with a cost of approximately $7,594,000 and a value of $0, are valued in good faith at fair market value using methods determined by the Board of Directors.

 

Securities Transactions and Net Investment Income—Securities transactions are recorded on trade date. Interest income is accrued on a daily basis. Discount on short-term investments is amortized to investment income. Premiums or discounts on corporate debt securities are amortized based on the interest method, for financial reporting purposes. All income on original issue discount and step interest bonds is accrued based on the effective interest method. The Fund does not amortize market premiums or discounts for tax purposes. Dividend payments received in the form of additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

 



 

Item 2.

 

(a)   The registrant’s President and Treasurer have concluded that the registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) are effective, based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) as of a date within 90 days of the filing date of this report.

 

(b)   There were no changes in the registrant’s internal control 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.

 

Certifications as required by Rule 30a-2(a) under the Act are attached hereto.

 


 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)

The New America High Income Fund, Inc

 

 

By (Signature and Title)

/s/ Robert F. Birch

 

 

Robert F. Birch

 

President

 

Date

November 17, 2005

 

 

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)

/s/ Robert F. Birch

 

 

Robert F. Birch

 

President

 

Date

November 17, 2005

 

 

 

By (Signature and Title)

/s/ Ellen E. Terry

 

 

Ellen E. Terry

 

Treasurer

 

Date

November 17, 2005