-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JLfBDheZbVFUXvKWeOjYGyQf9+jlE7gMY9aJtRPjkY8TwNtMn+Qt+BE2PlXmvb2b 81q7Nvkp2IavyEoRkJpZoQ== 0001104659-07-042369.txt : 20070523 0001104659-07-042369.hdr.sgml : 20070523 20070523121928 ACCESSION NUMBER: 0001104659-07-042369 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070331 FILED AS OF DATE: 20070523 DATE AS OF CHANGE: 20070523 EFFECTIVENESS DATE: 20070523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CREDIT SUISSE GLOBAL HIGH YIELD FUND INC CENTRAL INDEX KEY: 0001067474 IRS NUMBER: 510342407 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-08927 FILM NUMBER: 07873119 BUSINESS ADDRESS: STREET 1: ELEVEN MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-325-2000 MAIL ADDRESS: STREET 1: ELEVEN MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE INSTITUTIONAL HIGH YIELD FUND INC DATE OF NAME CHANGE: 20011212 FORMER COMPANY: FORMER CONFORMED NAME: WARBURG PINCUS HIGH YIELD FUND INC DATE OF NAME CHANGE: 19980804

0001067474 S000011645 Credit Suisse Global High Yield Fund Inc

C000031995 Class 1 RBSFX

N-Q 1 a07-11835_15nq.htm N-Q

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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number		811-08927

CREDIT SUISSE GLOBAL HIGH YIELD FUND, INC.
(Exact name of registrant as specified in charter)

c/o Credit Suisse Asset Management, LLC Eleven Madison Avenue New York, New York			10010
(Address of principal executive offices)			(Zip code)

J. Kevin Gao, Esq. Eleven Madison Avenue New York, New York 10010
(Name and address of agent for service)

Registrant's telephone number, including area code:		(212) 325-2000

Date of fiscal year end:	December 31st

Date of reporting period:	January 1, 2007 to March 31, 2007

Item 1: Schedule of Investments

Credit Suisse Global High Yield Fund

Schedule of Investments

March 31, 2007 (unaudited)

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS (87.5%)
Aerospace & Defense (1.9%)
$	25	DRS Technologies, Inc., Company Guaranteed Notes (Callable 02/01/11 @ $103.81)§	(B, B3)	02/01/18	7.625	$	26,125
75		DRS Technologies, Inc., Global Senior Subordinated Notes (Callable 11/01/08 @ $103.44)	(B, B3)	11/01/13	6.875	76,125
75		Hawker Beechcraft Acquisition Co., Rule 144A, Senior Notes (Callable 04/01/11 @ $104.25)‡	(B-, B3)	04/01/15	8.500	78,094
75		Hawker Beechcraft Acquisition Co., Rule 144A, Senior Subordinated Notes (Callable 04/01/12 @ $104.88)§‡	(B-, Caa1)	04/01/17	9.750	78,562
125		K&F Acquisition, Inc., Global Company Guaranteed Notes (Callable 11/15/09 @ $103.88)	(B-, Caa1)	11/15/14	7.750	133,437
50		L-3 Communications Corp., Global Company Guaranteed Notes (Callable 07/15/08 @ $103.06)	(BB+, Ba3)	07/15/13	6.125	49,500
125		L-3 Communications Corp., Global Senior Subordinated Notes (Callable 01/15/10 @ $102.94)	(BB+, Ba3)	01/15/15	5.875	122,031
100		TransDigm, Inc., Global Company Guaranteed Notes (Callable 07/15/09 @ $105.81)	(B-, B3)	07/15/14	7.750	103,750
25		TransDigm, Inc., Rule 144A, Senior Subordinated Notes (Callable 07/15/09 @ $105.81)‡	(B-, B3)	07/15/14	7.750	25,938

						693,562

Agriculture (0.2%)
75		Southern States Cooperative, Inc., Rule 144A, Senior Notes (Callable 11/01/07 @ $108.00)‡	(B, Caa1)	11/01/10	10.500	79,875

Auto Loans (4.2%)
310		Ford Motor Credit Co., Global Notes§	(B, B1)	10/01/13	7.000	288,537
250		Ford Motor Credit Co., Notes	(B, B1)	06/16/08	6.625	249,282
250		Ford Motor Credit Co., Senior Unsecured Notes	(B, B1)	12/15/16	8.000	240,957
300		General Motors Acceptance Corp., Global Notes	(BB+, Ba1)	05/15/09	5.625	294,701
325		General Motors Acceptance Corp., Global Notes	(BB+, Ba1)	12/01/14	6.750	319,975
150		GMAC LLC, Senior Unsubordinated Notes	(BB+, Ba1)	12/15/11	6.000	145,633

						1,539,085

Automobile Parts & Equipment (2.1%)
75		Altra Industrial Motion, Inc., Global Secured Notes (Callable 12/01/08 @ $104.50)#	(CCC+, B2)	12/01/11	9.000	78,375
150		Goodyear Tire & Rubber Co., Global Senior Notes (Callable 07/01/10 @ $104.50)§	(B-, B2)	07/01/15	9.000	165,375
50		Goodyear Tire & Rubber Co., Rule 144A, Senior Notes#‡	(B-, B2)	12/01/09	9.140	50,437
50		Goodyear Tire & Rubber Co., Rule 144A, Senior Notes (Callable 12/01/09 @ $104.31)‡	(B-, B2)	12/01/11	8.675	54,000
50		Insurance Auto Auctions, Inc., Global Company Guaranteed Notes (Callable 04/01/09 @ $105.50)§	(CCC+, Caa1)	04/01/13	11.000	58,000
100		Stanadyne Corp., Global Senior Subordinated Notes (Callable 08/15/09 @ $105.00)	(CCC+, Caa1)	08/15/14	10.000	103,500
100		Titan International, Inc., Rule 144A, Senior Notes‡	(B, B3)	01/15/12	8.000	103,375
100		TRW Automotive, Inc., Rule 144A, Company Guaranteed Notes§‡	(BB-, Ba3)	03/15/14	7.000	98,500
50		Visteon Corp., Global Senior Notes	(CCC+, Caa2)	08/01/10	8.250	51,250

						762,812

Automotive (2.3%)
175		Ford Motor Co., Global Notes§	(CCC+, Caa1)	07/16/31	7.450	136,281
485		General Motors Corp., Global Debentures§	(B-, Caa1)	07/15/33	8.375	437,713
300		General Motors Corp., Global Senior Notes§	(B-, Caa1)	07/15/13	7.125	281,250

						855,244

Beverages (0.3%)
125		Constellation Brands, Inc., Company Guaranteed Notes	(BB-, Ba3)	09/01/16	7.250	127,188

Brokerage (0.2%)
75		E*TRADE Financial Corp., Senior Unsecured Notes (Callable 12/01/10 @ $103.94)§	(BB-, Ba2)	12/01/15	7.875	81,281

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Building & Construction (1.7%)
$	100	Ashton Woods USA/Finance, Global Senior Subordinated Notes (Callable 10/01/10 @ $104.75)	(B-, B3)	10/01/15	9.500	$	95,750
100		Beazer Homes USA, Inc., Global Company Guaranteed Notes (Callable 04/15/07 @ $104.19)§	(BB, Ba1)	04/15/12	8.375	96,750
100		K Hovnanian Enterprises, Inc., Global Company Guaranteed Notes§	(BB, Ba1)	01/15/16	6.250	86,250
125		KB Home, Senior Notes§	(BB+, Ba1)	06/15/15	6.250	112,656
75		Standard Pacific Corp., Global Senior Notes§	(BB, Ba2)	08/15/15	7.000	67,313
50		Technical Olympic USA, Inc., Rule 144A, Senior Notes‡§	(B-, B2)	04/01/11	8.250	46,625
50		WCI Communities, Inc., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.31)	(B-, Caa1)	03/15/15	6.625	47,000
75		William Lyon Homes, Inc., Global Senior Notes (Callable 12/15/08 @ $103.81)§	(B, B3)	12/15/12	7.625	67,125

						619,469

Building Materials (1.9%)
100		Building Materials Corp., Global Secured Notes (Callable 08/01/09 @ $103.88)§	(BB-, B2)	08/01/14	7.750	98,750
200		Coleman Cable, Inc., Global Company Guaranteed Notes (Callable 10/01/08 @ $104.94)	(B-, B3)	10/01/12	9.875	208,000
50		General Cable Corp., Rule 144A, Senior Notes (Callable 04/01/12 @ $103.56)‡	(B+, B1)	04/01/17	7.125	50,563
75		Goodman Global Holding Company, Inc., Global Senior Subordinated Notes (Callable 12/15/08 @ $103.94)§	(B-, B3)	12/15/12	7.875	75,750
75		Norcraft Companies, Global Senior Subordinated Notes (Callable 11/01/07 @ $104.50)	(B-, B1)	11/01/11	9.000	77,625
75		Nortek, Inc., Global Senior Subordinated Notes (Callable 09/01/09 @ $104.25)	(CCC+, B3)	09/01/14	8.500	73,312
125		Ply Gem Industries, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50)§	(CCC+, Caa1)	02/15/12	9.000	109,062

						693,062

Chemicals (3.6%)
75		BCP Crystal Holdings Corp., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.81)	(B, B3)	06/15/14	9.625	85,569
100		KI Holdings, Inc., Global Senior Discount Notes (Callable 11/15/09 @ $104.94)#	(B-, B3)	11/15/14	9.875	84,625
200		Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 06/01/08 @ $105.25)	(BB, Ba2)	06/01/13	10.500	220,000
125		Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 09/15/10 @ $104.00)	(B+, B1)	09/15/14	8.000	131,562
150		Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 09/15/11 @ $104.13)	(B+, B1)	09/15/16	8.250	161,250
50		Mosaic Co., Rule 144A, Senior Notes (Callable 12/01/10 @ $103.69)‡	(BB-, B1)	12/01/14	7.375	52,375
100		Mosaic Co., Rule 144A, Senior Notes (Callable 12/01/11 @ $103.81)‡	(BB-, B1)	12/01/16	7.625	106,000
175		Nalco Finance Holdings, Inc., Global Senior Notes (Callable 02/01/09 @ $104.50)#§+	(B-, B3)	02/01/14	0.000	154,875
50		PolyOne Corp., Global Company Guaranteed Notes (Callable 05/15/07 @ $105.31)§	(B+, B2)	05/15/10	10.625	53,000
100		PolyOne Corp., Senior Notes§	(B+, B2)	05/01/12	8.875	101,000
75		PQ Corp., Global Company Guaranteed Notes (Callable 02/15/09 @ $103.75)#	(B-, B3)	02/15/13	7.500	76,125
100		Terra Capital, Inc., Rule 144A, Senior Notes (Callable 02/01/12 @ $103.50)‡	(BB-, B1)	02/01/17	7.000	100,000

						1,326,381

Computer Hardware (0.3%)
125		Activant Solutions, Inc., Global Company Guaranteed Notes (Callable 05/01/11 @ $104.75)	(CCC+, Caa1)	05/01/16	9.500	123,750

Consumer Products (1.9%)
175		AAC Group Holding Corp., Global Senior Discount Notes (Callable 10/01/08 @ $105.13)#+	(CCC+, B3)	10/01/12	0.000	157,938
175		Amscan Holdings, Inc., Global Senior Subordinated Notes (Callable 05/01/09 @ $104.38)	(CCC+, Caa1)	05/01/14	8.750	172,812

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Consumer Products
$	100	Del Laboratories, Inc., Global Company Guaranteed Notes (Callable 02/01/08 @ $104.00)	(CCC, Caa2)	02/01/12	8.000	$	93,750
100		Jarden Corp., Company Guaranteed Notes (Callable 05/01/12 @ $103.75)	(B-, B3)	05/01/17	7.500	101,500
65		Playtex Products, Inc., Global Company Guaranteed Notes (Callable 06/01/07 @ $103.13)	(B-, Caa1)	06/01/11	9.375	67,519
100		Prestige Brands, Inc., Global Senior Subordinated Notes (Callable 04/15/08 @ $104.63)	(B-, B3)	04/15/12	9.250	104,000

						697,519

Diversified Capital Goods (1.2%)
125		Esco Corp., Rule 144A, Senior Notes (Callable 12/15/10 @ $104.31)‡	(B, B2)	12/15/13	8.625	133,125
150		RBS Global & Rexnord Corp., Global Company Guaranteed Notes (Callable 08/01/10 @ $104.75)	(CCC+, B3)	08/01/14	9.500	156,750
50		Sensus Metering Systems, Global Senior Subordinated Notes (Callable 12/15/08 @ $104.31)	(B-, B3)	12/15/13	8.625	50,875
100		TriMas Corp., Global Company Guaranteed Notes (Callable 06/15/07 @ $104.94)	(CCC+, B3)	06/15/12	9.875	100,375

						441,125

Electric - Generation (3.4%)
225		AES Corp., Senior Notes§	(B, B1)	03/01/14	7.750	237,375
150		Dynegy Holdings, Inc., Global Senior Unsecured Notes	(B-, B2)	05/01/16	8.375	156,750
100		Dynegy Holdings, Inc., Senior Notes§	(B-, B2)	04/01/11	6.875	100,750
292		Midwest Generation LLC, Series B, Global Pass Thru Certificates	(BB-, Ba2)	01/02/16	8.560	319,755
175		NRG Energy, Inc., Company Guaranteed Notes (Callable 01/15/12 @ $103.69)	(B-, B1)	01/15/17	7.375	180,031
75		NRG Energy, Inc., Company Guaranteed Notes (Callable 02/01/10 @ $103.63)	(B-, B1)	02/01/14	7.250	77,062
50		NRG Energy, Inc., Company Guaranteed Notes (Callable 02/01/11 @ $103.69)	(B-, B1)	02/01/16	7.375	51,500
125		Reliant Energy, Inc., Global Secured Notes (Callable 07/15/08 @ $104.75)	(B, B2)	07/15/13	9.500	136,719

						1,259,942

Electric - Integrated (1.1%)
100		CMS Energy Corp., Senior Notes§	(B+, Ba3)	01/15/09	7.500	103,125
100		Mirant North America LLC, Global Company Guaranteed Notes (Callable 12/31/09 @ $103.69)	(B-, B2)	12/31/13	7.375	103,000
125		Sierra Pacific Resources, Global Senior Unsecured Notes (Callable 08/15/10 @ $103.38)	(B, B1)	08/15/17	6.750	128,225
70		TXU Corp., Series Q, Global Senior Notes	(BB+, Ba1)	11/15/24	6.500	59,348

						393,698

Electronics (1.8%)
125		Amkor Technology, Inc., Global Senior Notes (Callable 05/15/08 @ $103.88)§	(CCC+, Caa1)	05/15/13	7.750	122,969
38		Ampex Corp., Secured Notes^	(NR, NR)	08/15/08	12.000	37,631
325		Freescale Semiconductor, Inc., Rule 144A, Senior Notes (Callable 12/15/10 @ $104.44)‡	(B, B1)	12/15/14	8.875	327,031
69		GrafTech Finance, Inc., Global Company Guaranteed Notes (Callable 02/15/08 @ $103.42)	(B-, B2)	02/15/12	10.250	72,795
100		Spansion, Inc., Rule 144A, Senior Notes (Callable 01/15/11 @ $105.63)‡	(B, Caa1)	01/15/16	11.250	103,750

						664,176

Energy - Exploration & Production (3.6%)
75		Chaparral Energy, Inc., Rule 144A, Senior Notes (Callable 02/01/12 @ $104.44)‡	(CCC+, Caa1)	02/01/17	8.875	75,750
276		Chesapeake Energy Corp., Senior Notes (Callable 01/15/09 @ $103.44)	(BB, Ba2)	01/15/16	6.875	280,830
125		Encore Acquisition Co., Company Guaranteed Notes (Callable 12/01/10 @ $103.63)	(B, B1)	12/01/17	7.250	119,375

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Energy - Exploration & Production
$	100	Forest Oil Corp., Global Company Guranteed Notes (Callable 05/01/07 @ $103.88)§	(B+, B1)	05/01/14	7.750	$	102,000
150		Hilcorp Energy I, Rule 144A, Senior Notes (Callable 06/01/11 @ $104.50)‡	(B, B3)	06/01/16	9.000	159,750
65		Magnum Hunter Resources, Inc., Global Company Guaranteed Notes (Callable 03/15/08 @ $103.20)	(BB-, B1)	03/15/12	9.600	68,250
150		Petrohawk Energy Corp., Global Company Guaranteed Notes (Callable 07/15/10 @ $104.56)	(B-, B3)	07/15/13	9.125	160,500
125		Range Resources Corp., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.19)	(B, B1)	03/15/15	6.375	123,750
125		Swift Energy Co., Senior Notes (Callable 07/15/08 @ $103.81)	(BB-, Ba2)	07/15/11	7.625	128,750
100		Whiting Petroleum Corp., Global Senior Subordinated Notes (Callable 05/01/08 @ $103.63)	(B, B1)	05/01/12	7.250	98,750

						1,317,705

Environmental (1.1%)
225		Allied Waste North America, Inc., Series B, Global Senior Notes (Callable 04/15/09 @ $103.69)§	(B+, B3)	04/15/14	7.375	229,500
175		Waste Services, Inc., Global Senior Subordinated Notes (Callable 04/15/09 @ $104.75)	(CCC, Caa1)	04/15/14	9.500	184,187

						413,687

Food & Drug Retailers (1.4%)
100		Albertson’s LLC, Senior Unsecured Notes§	(B, B1)	05/01/13	7.250	103,804
75		Delhaize America, Inc., Global Company Guaranteed Notes	(BB+, Ba1)	04/15/11	8.125	82,412
175		Duane Reade, Inc., Global Senior Subordinated Notes (Callable 08/01/08 @ $104.88)§	(CC, Caa3)	08/01/11	9.750	169,312
75		Ingles Markets, Inc., Global Company Guaranteed Notes (Callable 12/01/07 @ $102.90)	(B, B3)	12/01/11	8.875	78,375
75		Stater Brothers Holdings, Inc., Global Senior Notes (Callable 06/15/08 @ $104.06)	(B+, B1)	06/15/12	8.125	77,625

						511,528

Food - Wholesale (0.7%)
75		Dole Food Company Inc., Debentures§#	(B-, Caa1)	07/15/13	8.750	72,563
75		National Beef Packing Company LLC, Global Senior Notes (Callable 08/01/07 @ $105.25)	(B-, Caa1)	08/01/11	10.500	79,125
100		Pinnacle Foods Holding Corp., Global Senior Subordinated Notes (Callable 12/01/08 @ $104.13)	(B-, B3)	12/01/13	8.250	109,255

						260,943

Forestry & Paper (3.1%)
150		Boise Cascade LLC, Global Company Guaranteed Notes (Callable 10/15/09 @ $103.56)§	(B+, B2)	10/15/14	7.125	149,250
100		Cellu Tissue Holdings, Global Secured Notes (Callable 03/15/08 @ $103.67)	(B, B2)	03/15/10	9.750	100,500
125		Georgia-Pacific Corp., Debentures	(B, B2)	06/15/15	7.700	128,750
100		Georgia-Pacific Corp., Rule 144A, Company Guaranteed Notes (Callable 01/15/12 @ $103.56)‡	(B, Ba3)	01/15/17	7.125	100,750
100		Graphic Packaging International Corp., Global Senior Subordinated Notes (Callable 08/15/08 @ $104.75)	(B-, B3)	08/15/13	9.500	106,875
150		NewPage Corp., Global Secured Notes (Callable 05/01/09 @ $106.00)	(B-, B2)	05/01/12	10.000	164,813
50		NewPage Corp., Global Senior Subordinated Notes (Callable 05/01/09 @ $106.00)§	(CCC+, B3)	05/01/13	12.000	54,500
225		Smurfit-Stone Container, Global Senior Notes (Callable 07/01/07 @ $104.19)	(CCC+, B2)	07/01/12	8.375	226,687
125		Verso Paper Holdings LLC, Rule 144A, Secured Notes (Callable 08/01/10 @ $104.56)‡	(B, B2)	08/01/14	9.125	130,625

						1,162,750

Gaming (5.0%)
75		Buffalo Thunder Development Authority, Rule 144A, Secured Notes (Callable 12/15/10 @ $104.69)‡	(B, B2)	12/15/14	9.375	76,875
125		CCM Merger, Inc., Rule 144A, Notes (Callable 08/01/09 @ $104.00)‡	(CCC+, B3)	08/01/13	8.000	126,250

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Gaming
$	97	Choctaw Resort Development Enterprise, Rule 144A, Senior Notes (Callable 11/15/11 @ $103.63)‡	(BB-, Ba2)	11/15/19	7.250	$	98,091
100		Herbst Gaming, Inc., Global Senior Subordinated Notes (Callable 06/01/08 @ $104.06)§	(B-, B3)	06/01/12	8.125	101,500
100		Inn of the Mountain Gods, Global Senior Notes (Callable 11/15/07 @ $106.00)§	(B-, B3)	11/15/10	12.000	109,250
175		Jacobs Entertainment, Inc., Global Company Guaranteed Notes (Callable 06/15/10 @ $104.88)	(B-, B3)	06/15/14	9.750	179,813
75		Majestic Star Casino LLC, Company Guaranteed Notes (Callable 10/15/07 @ $104.75)	(B+, B1)	10/15/10	9.500	79,031
25		Majestic Star LLC, Global Senior Unsecured Notes (Callable 10/15/08 @ $104.88)§	(CCC+, Caa1)	01/15/11	9.750	23,938
100		MGM Mirage, Inc., Company Guaranteed Notes§	(B+, B1)	02/01/11	8.375	105,750
225		MGM Mirage, Inc., Company Guaranteed Notes	(BB, Ba2)	01/15/17	7.625	228,937
50		MGM Mirage, Inc., Global Company Guaranteed Notes	(BB, Ba2)	04/01/13	6.750	49,875
75		MGM Mirage, Inc., Global Senior Notes	(BB, Ba2)	09/01/12	6.750	74,906
125		Trump Entertainment Resorts, Inc., Secured Notes (Callable 06/01/10 @ $104.25)§	(B-, Caa1)	06/01/15	8.500	126,875
100		Turning Stone Resort Casino Enterprise, Rule 144A, Senior Notes (Callable 09/15/10 @ $104.56)‡	(B+, Ba3)	09/15/14	9.125	103,250
83		Waterford Gaming LLC, Rule 144A, Senior Notes (Callable 09/15/08 @ $103.55)‡	(BB-, B1)	09/15/12	8.625	88,395
175		Wimar Opco LLC, Rule 144A, Senior Subordinated Notes (Callable 12/15/10 @ $104.81)‡	(CCC+, B3)	12/15/14	9.625	176,531
100		Wynn Las Vegas LLC, Global First Mortgage Notes (Callable 12/01/09 @ $103.31)	(BB-, B1)	12/01/14	6.625	99,500

						1,848,767

Gas Distribution (2.5%)
125		Amerigas Partners/Eagle Finance Corp., Senior Notes (Callable 05/20/11 @ $103.56)	(NR, B1)	05/20/16	7.125	125,938
225		El Paso Performance-Link, Rule 144A, Notes‡	(B+, B2)	07/15/11	7.750	240,469
100		Inergy LP/Inergy Finance Corp., Global Company Guaranteed Notes (Callable 03/01/11 @ $104.13)	(B, B1)	03/01/16	8.250	105,500
225		Williams Companies, Inc., Global Senior Unsecured Notes	(BB-, Ba2)	03/15/12	8.125	245,812
100		Williams Companies, Inc., Rule 144A, Notes‡#	(BB-, Ba2)	10/01/10	7.360	103,875
100		Williams Partners LP, Rule 144A, Bonds‡	(BB-, Ba3)	02/01/17	7.250	106,250

						927,844

Health Services (6.2%)
100		CDRV Investors, Inc., Global Senior Discount Notes (Callable 01/01/10 @ $104.81)#	(CCC+, Caa1)	01/01/15	9.625	86,500
100		CDRV Investors, Inc., Rule 144A, Senior Notes (Callable 12/01/07 @ $102.00)#‡	(CCC+, Caa1)	12/01/11	9.860	99,500
75		DaVita, Inc., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.63)§	(B, B2)	03/15/15	7.250	76,219
100		Genesis Healthcare Corp., Senior Subordinated Notes (Callable 10/15/08 @ $104.00)	(B, B1)	10/15/13	8.000	106,750
225		HCA, Inc., Global Senior Unsecured Notes§	(B-, Caa1)	02/15/16	6.500	192,656
225		HCA, Inc., Rule 144A, Secured Notes (Callable 11/15/11 @ $104.63)‡	(BB-, B2)	11/15/16	9.250	243,281
300		HCA, Inc., Senior Unsecured Notes	(B-, Caa1)	10/01/12	6.300	281,250
100		Healthsouth Corp., Rule 144A, Senior Notes (Callable 06/15/11 @ $105.38)‡	(CCC+, Caa1)	06/15/16	10.750	109,250
75		Iasis Healthcare/Capital Corp., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.38)	(B-, B3)	06/15/14	8.750	78,000
75		OMEGA Healthcare Investors, Inc., Global Company Guaranteed Notes (Callable 01/15/11 @ $103.50)§	(BB, Ba3)	01/15/16	7.000	76,125
75		Senior Housing Properties Trust, Senior Notes	(BB+, Ba2)	01/15/12	8.625	82,313
50		Service Corporation International, Global Senior Notes	(BB-, B1)	10/01/14	7.375	52,250
50		Service Corporation International, Global Senior Notes§	(BB-, B1)	10/01/18	7.625	53,125
75		Stewart Enterprises, Inc., Global Senior Notes (Callable 02/15/09 @ $103.13)	(B+, B1)	02/15/13	6.250	73,125
325		Tenet Healthcare Corp., Global Senior Notes§	(CCC+, Caa1)	07/01/14	9.875	329,875
100		Triad Hospitals, Inc., Senior Subordinated Notes (Callable 11/15/08 @ $103.50)	(B+, B2)	11/15/13	7.000	104,875

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Health Services
$	75	Universal Hospital Services, Inc., Global Senior Notes (Callable 11/01/07 @ $105.06)	(B-, B3)	11/01/11	10.125	$	80,063
175		Vanguard Health Holding Co., Global Senior Subordinated Notes (Callable 10/01/09 @ $104.50)	(CCC+, Caa1)	10/01/14	9.000	178,062

						2,303,219

Hotels (0.9%)
50		Felcor Lodging LP, Global Company Guaranteed Notes#	(B+, Ba3)	06/01/11	9.000	53,813
25		Felcor Lodging LP, Rule 144A, Secured Notes (Callable 12/01/07 @ $101.00)#‡	(B+, Ba3)	12/01/11	7.275	25,375
250		Host Marriott LP, Series Q, Global Company Guaranteed Notes (Callable 06/01/11 @ $103.33)	(BB, Ba1)	06/01/16	6.750	253,125

						332,313

Household & Leisure Products (0.4%)
75		Sealy Mattress Co., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.13)	(B, B2)	06/15/14	8.250	79,313
75		Simmons Bedding Co., Global Senior Subordinated Notes (Callable 01/15/09 @ $103.94)§	(CCC+, B2)	01/15/14	7.875	77,250

						156,563

Leisure (0.8%)
75		Bally Total Fitness Holding Corp., Global Senior Notes (Callable 07/15/07 @ $105.25)§	(CCC-, Caa1)	07/15/11	10.500	70,313
75		Six Flags, Inc., Global Senior Notes (Callable 04/15/08 @ $104.88)§	(CCC, Caa1)	04/15/13	9.750	71,812
150		Six Flags, Inc., Global Senior Notes (Callable 06/01/09 @ $104.81)§	(CCC, Caa1)	06/01/14	9.625	141,750

						283,875

Machinery (0.6%)
100		Baldor Electric Co., Senior Notes (Callable 02/15/12 @ $104.31)	(B, B3)	02/15/17	8.625	106,250
125		Case New Holland, Inc., Global Company Guaranteed Notes (Callable 08/01/07 @ $104.62)	(BB, Ba3)	08/01/11	9.250	131,875

						238,125

Media - Broadcast (2.3%)
100		Allbritton Communications Co., Global Senior Subordinated Notes (Callable 12/15/07 @ $103.88)	(B-, B1)	12/15/12	7.750	103,000
75		Barrington Broadcasting Group, Rule 144A, Senior Subordiated Notes (Callable 08/15/10 @ $105.25)‡	(CCC+, B3)	08/15/14	10.500	79,125
100		Fisher Communications, Inc., Global Senior Notes (Callable 09/15/09 @ $104.31)	(B-, B2)	09/15/14	8.625	107,625
100		ION Media Networks, Inc., Rule 144A, Secured Notes (Callable 01/15/08 @ $102.00)‡#	(CCC-, Caa2)	01/15/13	11.610	104,750
100		Nexstar Finance, Inc., Global Senior Subordinated Notes (Callable 01/15/09 @ $103.50)	(CCC+, B3)	01/15/14	7.000	96,500
100		Rainbow National Services LLC, Rule 144A, Senior Notes (Callable 09/01/08 @ $104.38)‡	(B+, B2)	09/01/12	8.750	106,875
90		Univision Communications, Inc. Class A, Rule 144A, Senior Notes (Callable 03/15/11@ $104.88)§‡	(CCC+, B3)	03/15/15	9.750	90,113
175		Young Broadcasting, Inc., Global Senior Subordinated Notes (Callable 01/15/09 @ $104.38)§	(CCC-, Caa1)	01/15/14	8.750	164,062

						852,050

Media - Cable (4.8%)
150		Atlantic Broadband Finance LLC, Global Company Guaranteed Notes (Callable 01/15/09 @ $104.69)	(CCC+, Caa1)	01/15/14	9.375	154,125
225		CCH I Holdings LLC, Global Company Guaranteed Notes (Callable 09/30/07 @ $103.92)§	(CCC-, Caa3)	05/15/14	11.750	216,563
300		CCH I LLC, Global Secured Notes (Callable 10/01/10 @ $105.50)	(CCC-, Caa2)	10/01/15	11.000	312,750
200		CCO Holdings LLC, Global Senior Notes (Callable 11/15/08 @ $104.38)§	(CCC-, Caa1)	11/15/13	8.750	208,000
125		Charter Communications Holdings LLC, Senior Discount Notes (Callable 04/01/07 @ $100.00)§	(CCC-, Caa3)	04/01/11	9.920	125,156
175		CSC Holdings, Inc., Rule 144A, Senior Notes#‡	(B+, B2)	04/15/12	6.750	174,563

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Media - Cable
$	35	CSC Holdings, Inc., Series B, Senior Notes§	(B+, B2)	04/01/11	7.625	$	36,050
100		DirecTV Holdings/Finance, Global Senior Notes (Callable 03/15/08 @ $104.19)	(BB-, Ba3)	03/15/13	8.375	105,875
250		EchoStar DBS Corp., Global Company Guaranteed Notes	(BB-, Ba3)	10/01/14	6.625	252,187
52		Insight Midwest/Insight Capital Corp., Senior Notes (Callable 10/01/07 @ $100.00)	(B, B3)	10/01/09	9.750	52,975
50		Mediacom Broadband LLC, Global Senior Notes (Callable 10/15/10 @ $104.25)§	(B, B3)	10/15/15	8.500	51,375
75		Mediacom LLC/Capital Corp., Senior Notes (Callable 02/15/08 @ $100.00)	(B, B3)	02/15/11	7.875	75,375

						1,764,994

Media - Services (0.2%)
100		WMG Holdings Corp., Global Senior Discount Notes (Callable 12/15/09 @ $104.75)+	(B, B2)	12/15/14	0.000	77,000

Metal & Mining - Excluding Steel (1.7%)
100		Aleris International, Inc., Rule 144A, Senior Notes (Callable 12/15/10 @ $104.50)‡	(B-, B3)	12/15/14	9.000	106,000
25		Aleris International, Inc., Rule 144A, Senior Subordinated Notes (Callable 12/15/11 @ $105.00)‡	(B-, Caa1)	12/15/16	10.000	26,250
75		Freeport - McMoRan Copper & Gold, Inc., Senior Unsecured Notes (Callable 04/01/11 @ $104.13)	(BB, Ba3)	04/01/15	8.250	80,906
25		Freeport - McMoRan Copper & Gold, Inc., Senior Unsecured Notes (Callable 04/01/12 @ $104.19)	(BB, Ba3)	04/01/17	8.375	27,094
125		Peabody Energy Corp., Global Company Guaranteed Notes	(BB, Ba1)	11/01/16	7.375	132,187
110		PNA Group, Inc., Rule 144A, Senior Notes (Callable 09/01/11 @ $105.38)‡	(B-, B3)	09/01/16	10.750	118,800
125		Southern Copper Corp., Global Senior Notes	(BBB-, Baa2)	07/27/15	6.375	128,727

						619,964

Non-Food & Drug Retailers (2.4%)
100		Affinity Group, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50)	(CCC+, B2)	02/15/12	9.000	103,250
75		Asbury Automotive Group, Inc. Rule 144A, Senior Subordinated Notes (Callable 03/15/12 @ $103.81)‡	(B, B3)	03/15/17	7.625	75,563
100		Brookstone Company, Inc., Global Secured Notes (Callable 10/15/09 @ $106.00)§	(B, Caa1)	10/15/12	12.000	104,500
100		Finlay Fine Jewelry Corp., Global Senior Notes (Callable 06/01/08 @ $104.19)	(B-, B3)	06/01/12	8.375	92,500
370		Flooring America, Inc., Series B, Company Guaranteed Notesø^	(NR, NR)	10/15/07	9.250	0
25		GameStop Corp., Global Company Guaranteed Notes (Callable 10/01/09 @ $104.00)	(B+, B1)	10/01/12	8.000	26,625
25		Michaels Stores, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $105.00)‡§	(CCC, B2)	11/01/14	10.000	26,875
175		Michaels Stores, Inc., Rule 144A, Senior Subordinated Notes (Callable 11/01/11 @ $105.69)‡§	(CCC, Caa1)	11/01/16	11.375	189,437
100		Neiman Marcus Group, Inc., Global Company Guaranteed Notes (Callable 10/15/10 @ $105.19)§	(B-, B3)	10/15/15	10.375	112,000
89		Susser Holdings LLC, Global Company Guaranteed Notes (Callable 12/15/09 @ $105.31)	(B+, B2)	12/15/13	10.625	97,566
50		Yankee Acquisition Corp., Rule 144A, Senior Notes (Callable 02/15/11 @ $104.25)‡	(CCC+, B3)	02/15/15	8.500	50,875
25		Yankee Acquisition Corp., Rule 144A, Senior Subordinated Notes (Callable 02/15/12 @ $104.88)‡§	(CCC+, Caa1)	02/15/17	9.750	25,438

						904,629

Office Equipment (0.5%)
175		IKON Office Solutions, Inc., Global Senior Notes (Callable 09/15/10 @ $103.88)	(BB, Ba3)	09/15/15	7.750	183,750

Oil Field Equipment & Services (0.6%)
100		Hanover Compressor Co., Company Guanteed Notes (Callable 04/15/10 @ $103.75)	(B, B2)	04/15/13	7.500	103,000

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Oil Field Equipment & Services
$	125	Pride International, Inc., Global Senior Notes (Callable 07/15/09 @ $103.69)	(BB-, Ba2)	07/15/14	7.375	$	128,750

						231,750

Oil Refining & Marketing (0.9%)
100		Frontier Oil Corp., Global Senior Notes (Callable 10/01/07 @ $103.31)	(B+, B1)	10/01/11	6.625	100,250
150		Giant Industries, Inc., Company Guaranteed Notes (Callable 05/15/09 @ $104.00)§	(B-, B2)	05/15/14	8.000	162,750
65		Giant Industries, Inc., Global Company Guaranteed Notes (Callable 05/15/07 @ $105.50)§	(B-, B2)	05/15/12	11.000	69,225

						332,225

Packaging (2.9%)
75		Ball Corp., Company Guaranteed Notes (Callable 03/15/11 @ $103.31)	(BB, Ba1)	03/15/18	6.625	74,719
165		Berry Plastics Holding Corp., Global Secured Notes (Callable 09/15/10 @ $104.44)	(CCC+, B2)	09/15/14	8.875	169,537
100		Constar International, Inc., Senior Subordinated Notes (Callable 12/01/07 @ $105.50)	(CCC, Caa2)	12/01/12	11.000	101,250
125		Covalence Specialty Materials Corp., Rule 144A, Senior Subordinated Notes (Callable 03/01/11 @ $105.13)‡	(CCC+, B3)	03/01/16	10.250	125,625
70		Crown Americas LLC, Global Senior Notes (Callable 11/15/10 @ $103.88)	(B, B1)	11/15/15	7.750	73,150
125		Graham Packaging Company, Inc., Global Subordinated Notes (Callable 10/15/09 @ $104.94)§	(CCC+, Caa1)	10/15/14	9.875	128,125
100		Owens-Brockway Glass Containers, Inc., Rule 144A, Senior Notes (Callable 05/15/08 @ $104.13)‡	(B, B3)	05/15/13	8.250	104,750
75		Owens-Illinois, Inc., Debentures§	(B, Caa1)	05/15/18	7.800	77,063
75		Pliant Corp., Global Secured Notes (Callable 06/01/07 @ $105.56)§	(CCC, Caa1)	09/01/09	11.125	75,375
0		Pliant Corp., Global Secured Notes (Callable 06/15/07 @ $111.62)(1)	(B-, NR)	06/15/09	11.625	130
150		Solo Cup Co., Global Senior Subordinated Notes (Callable 02/15/09 @ $104.25)§	(CCC-, Caa2)	02/15/14	8.500	128,437

						1,058,161

Printing & Publishing (2.1%)
75		American Media Operations, Inc., Series B, Global Company Guaranteed Notes (Callable 05/01/07 @ $100.00)	(CCC-, Caa2)	05/01/09	10.250	71,250
75		CBD Media Holdings/Finance, Global Senior Notes (Callable 07/15/08 @ $104.63)	(CCC+, Caa1)	07/15/12	9.250	78,938
500		Premier Graphics, Inc., Company Guaranteed Notes^ø	(NR, NR)	12/01/05	11.500	0
275		R.H. Donnelley Corp., Series A-2, Global Senior Discount Notes (Callable 01/15/09 @ $103.44)§	(B, B3)	01/15/13	6.875	268,812
50		R.H. Donnelley Corp., Series A-3, Global Senior Notes (Callable 01/15/11 @ $104.44)	(B, B3)	01/15/16	8.875	53,375
75		Reader’s Digest Association, Inc., Rule 144A, Senior Subordinated Notes (Callable 02/15/12 @ $104.50)‡	(CCC+, Caa1)	02/15/17	9.000	72,563
135		Valassis Communications, Inc., Rule 144A, Senior Notes (Callable 03/01/11 @ $104.13)‡	(B-, B3)	03/01/15	8.250	133,312
100		Vertis, Inc., Series B, Global Company Guaranteed Notes (Callable 06/15/07 @ $102.72)§	(CCC, Caa1)	06/15/09	10.875	101,500

						779,750

Restaurants (0.5%)
215		AmeriKing, Inc., Senior Notesø^	(NR, NR)	11/15/07	10.750	0
29		AmeriKing, Inc., Senior Notesø^	(NR, NR)	05/15/08	13.000	0
200		AmeriKing, Inc., Unitsø^	(NR, NR)	05/15/08	13.000	0
50		Buffets, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $106.25)	(CCC, Caa1)	11/01/14	12.500	52,250
125		Denny’s Corp., Global Company Guaranteed Notes (Callable 10/01/08 @ $105.00)	(B-, B3)	10/01/12	10.000	133,906

						186,156

Software/Services (1.1%)
225		SunGard Data Systems, Inc., Global Company Guaranteed Notes (Callable 08/15/10 @ $105.13)	(B-, Caa1)	08/15/15	10.250	246,656

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Software/Services
$	147	UGS Capital Corp. II, Rule 144A, Senior Notes (Callable 06/01/08 @ $102.00)‡#	(B-, Caa1)	06/01/11	10.348	$	150,374

						397,030

Steel Producers/Products (0.6%)
100		AK Steel Corp., Global Company Guaranteed Notes (Callable 06/15/07 @ $103.88)	(B+, B2)	06/15/12	7.750	102,125
100		Rathgibson, Inc., Global Company Guaranteed Notes (Callable 02/15/10 @ $105.63)	(B-, B3)	02/15/14	11.250	106,000

						208,125

Support-Services (4.8%)
200		Aramark Corp. Class B, Rule 144A, Senior Notes (Callable 02/01/11 @ $104.25)‡	(B-, B3)	02/01/15	8.500	209,000
75		Ashtead Capital, Inc., Rule 144A, Notes (Callable 08/15/11 @ $104.50)‡	(B, B3)	08/15/16	9.000	80,250
50		Education Management LLC, Global Company Guaranteed Notes (Callable 06/01/10 @ $104.38)	(CCC+, B2)	06/01/14	8.750	52,875
75		Education Management LLC, Global Company Guaranteed Notes (Callable 06/01/11 @ $105.13)§	(CCC+, Caa1)	06/01/16	10.250	81,750
175		Hertz Corp. Class A, Global Company Guaranteed Notes (Callable 01/01/10 @ $104.44)	(B, B1)	01/01/14	8.875	189,437
150		HydroChem Industrial Services, Inc., Rule 144A, Senior Subordinated Notes (Callable 02/15/09 @ $104.63)‡	(CCC+, B3)	02/15/13	9.250	154,500
75		Iron Mountain, Inc., Company Guaranteed Notes (Callable 07/01/08 @ $103.31)	(B, B3)	01/01/16	6.625	72,750
100		Johnsondiversey Holdings, Inc., Global Discount Notes (Callable 05/15/07 @ $105.34)+	(CCC+, Caa1)	05/15/13	0.000	103,750
75		Johnsondiversey, Inc., Series B, Global Company Guaranteed Notes (Callable 05/15/07 @ $104.81)	(CCC+, B3)	05/15/12	9.625	78,750
100		Mobile Services Group, Inc., Rule 144A, Senior Notes (Callable 08/01/10 @ $104.88)‡	(B-, B3)	08/01/14	9.750	106,250
150		Rental Service Corp., Rule 144A, Bonds (Callable 12/01/10 @ $104.75)‡	(B-, Caa1)	12/01/14	9.500	160,500
105		Travelport, Inc., Rule 144A, Senior Notes (Callable 09/01/10 @ $104.94)‡	(B-, Caa1)	09/01/14	9.875	110,513
225		United Rentals North America, Inc., Global Senior Subordinated Notes (Callable 02/15/09 @ $103.50)§	(B, B3)	02/15/14	7.000	225,562
150		Williams Scotsman, Inc., Global Company Guaranteed Notes (Callable 10/01/10 @ $104.25)	(B+, B3)	10/01/15	8.500	157,875

						1,783,762

Telecom - Fixed Line (0.9%)
250		Level 3 Financing, Inc., Rule 144A, Senior Notes (Callabe 02/15/09 @ $102.00)‡#	(CCC+, B3)	02/15/15	9.150	253,125
25		Level 3 Financing, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $104.63)‡	(CCC+, B3)	11/01/14	9.250	25,813
50		Time Warner Telecom Holdings, Inc., Global Company Guaranteed Notes (Callable 02/15/09 @ $104.62)	(CCC+, B3)	02/15/14	9.250	53,750

						332,688

Telecom - Intergrated/Services (2.9%)
100		Cincinnati Bell, Inc., Global Senior Subordinated Notes (Callable 01/15/09 @ $104.19)§	(B-, B2)	01/15/14	8.375	102,750
50		Citizens Communications Co., Senior Notes	(BB+, Ba2)	01/15/13	6.250	49,875
50		Hawaiian Telcom Communications, Inc., Series B, Global Company Guaranteed Notes (Callable 05/01/10 @ $106.25)§	(CCC+, B3)	05/01/15	12.500	55,000
75		Hughes Network Systems LLC, Global Company Guaranteed Notes (Callable 04/15/10 @ $104.75)	(B-, B1)	04/15/14	9.500	79,313
41		PanAmSat Corp., Global Company Guaranteed Notes (Callable 08/15/09 @ $104.50)	(B, B2)	08/15/14	9.000	44,588
150		Qwest Communications International, Inc., Global Company Guaranteed Notes (Callable 02/15/08 @ $103.63)#	(B+, Ba3)	02/15/11	7.250	154,312

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

CORPORATE BONDS
Telecom - Intergrated/Services
$	75	Qwest Communications International, Inc., Series B, Global Company Guaranteed Notes (Callable 02/15/09 @ $103.75)	(B+, Ba3)	02/15/14	7.500	$	77,625
240		Qwest Corp., Global Senior Notes	(BB+, Ba1)	06/15/15	7.625	257,400
50		Qwest Corp., Global Senior Unsecured Notes	(BB+, Ba1)	10/01/14	7.500	53,000
50		Windstream Corp., Global Company Guaranteed Notes	(BB-, Ba3)	08/01/13	8.125	54,375
150		Windstream Corp., Global Company Guaranteed Notes (Callable 08/01/11 @ $104.31)	(BB-, Ba3)	08/01/16	8.625	164,812

						1,093,050

Telecom - Wireless (2.3%)
8		American Cellular Corp., Series B, Global Senior Notes (Callable 08/01/07 @ $105.00)	(CCC, B3)	08/01/11	10.000	8,510
75		Centennial Cellular Communications Corp., Global Company Guaranteed Notes (Callable 06/15/08 @ $105.06)	(CCC, B2)	06/15/13	10.125	81,375
100		Centennial Communications Corp. Global Senior Notes (Callable 01/01/09 @ $107.50)§	(CCC, Caa1)	01/01/13	10.000	108,375
125		Cricket Communications, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $104.69)‡	(CCC, Caa2)	11/01/14	9.375	133,125
175		Dobson Communications Corp., Global Senior Notes (Callable 10/01/08 @ $104.44)§	(CCC, Caa2)	10/01/13	8.875	181,125
125		Metro PCS Wireless, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $104.63)‡	(CCC, Caa2)	11/01/14	9.250	132,812
125		Rural Cellular Corp. Class A, Global Senior Subordinated Notes (Callable 01/15/08 @ $101.63)§	(CCC, Caa2)	01/15/10	9.750	129,375
75		Triton PCS, Inc., Global Company Guaranteed Notes (Callable 06/01/08 @ $104.25)§	(CCC-, Caa2)	06/01/13	8.500	77,625

						852,322

Textiles & Apparel (0.6%)
75		Levi Strauss & Co., Global Senior Notes (Callable 01/15/10 @ $104.88)§	(B-, B3)	01/15/15	9.750	82,687
75		Levi Strauss & Co., Global Senior Notes (Callable 12/15/07 @ $106.13)	(B-, B3)	12/15/12	12.250	82,688
50		Phillips-Van Heusen Corp., Global Senior Notes (Callable 02/15/08 @ $103.62)	(BB, Ba3)	02/15/11	7.250	51,375

						216,750

Theaters & Entertainment (0.8%)
175		AMC Entertainment, Inc., Global Senior Subordinated Notes (Callable 03/01/09 @ $104.00)	(CCC+, B3)	03/01/14	8.000	178,938
125		Cinemark, Inc., Global Senior Discount Notes (Callable 03/15/09 @ $104.88)#	(CCC+, B3)	03/15/14	9.750	115,000

						293,938

Tobacco (0.2%)
75		Reynolds American, Inc., Global Company Guaranteed Notes	(BB, Ba2)	06/01/13	7.250	78,968

TOTAL CORPORATE BONDS (Cost $32,234,461)						32,362,550

FOREIGN BONDS (12.3%)
Chemicals (0.8%)
150		Basell AF SCA, Rule 144A, Company Guaranteed Notes (Callable 08/15/10 @ $104.19) (Luxembourg)‡	(B-, B2)	08/15/15	8.375	157,125
125		Ineos Group Holdings PLC, Rule 144A, Notes (Callable 02/15/11 @ $104.25) (United Kingdom)‡	(B-, B2)	02/15/16	8.500	120,312

						277,437

Electronics (1.0%)
75		Avago Technologies Finance, Global Company Guaranteed Notes (Callable 12/01/09 @ $105.06) (Singapore)#	(B, B2)	12/01/13	10.125	81,563
50		Celestica, Inc., Senior Subordinated Notes (Callable 07/01/08 @ $103.94) (Canada)	(B-, B2)	07/01/11	7.875	48,625

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

FOREIGN BONDS
Electronics
$	125	NXP BV/NXP Funding LLC, Rule 144A, Secured Notes (Callable 10/15/10 @ $103.94) (Netherlands)‡	(BB+, Ba2)	10/15/14	7.875	$	129,687
	90	STATS ChipPAC, Ltd., Global Company Guaranteed Notes (Callable 11/15/08 @ $103.38) (Singapore)§	(BB, Ba2)	11/15/11	6.750		93,375

						353,250

Energy - Exploration & Production (0.5%)
175		OPTI Canada, Inc., Rule 144A, Company Guaranteed Notes (Callable 12/15/10 @ $104.13)‡	(BB, B1)	12/15/14	8.250	182,875

Food & Drug Retailers (0.3%)
100		Jean Coutu Group PJC, Inc., Global Senior Subordinated Notes (Callable 08/01/09 @ $104.25) (Canada)§	(B-, Caa2)	08/01/14	8.500	109,000

Forestry & Paper (0.8%)
150		Abitibi-Consolidated, Inc., Global Notes (Canada)	(B+, B2)	06/15/11	7.750	144,000
50		Bowater Canada Finance Corp., Global Company Guaranteed Notes (Canada)	(B+, B2)	11/15/11	7.950	48,875
100		Smurfit Kappa Funding, Global Senior Subordinated Notes (Callable 01/31/10 @ $103.88) (Ireland)§	(B-, Caa1)	04/01/15	7.750	102,500
30		Tembec Industries, Inc., Global Company Guaranteed Notes (Canada)§	(CCC-, Ca)	03/15/12	7.750	18,375

						313,750

Gaming (0.6%)
150		Codere Finance Luxembourg SA, Senior Notes (Callable 6/15/10 @ 104.13) (Luxembourg)	(B, B2)	06/15/15	8.250	213,400

Leisure (0.2%)
75		NCL Corp., Global Senior Notes (Callable 07/15/09 @ $105.31) (Bermuda)#	(B, B3)	07/15/14	10.625	74,625

Media - Cable (2.0%)
50		Kabel Deutschland GmbH, Global Company Guaranteed Notes (07/01/09 @ $105.31) (Germany)	(B-, B2)	07/01/14	10.625	56,000
150		NTL Cable PLC, Global Company Guaranteed Notes (Callable 04/15/09 @ $104.88) (United Kingdom)	(B-, B2)	04/15/14	9.750	311,855
175		Unity Media GmbH, Rule 144A, Senior Notes (Callable 02/15/10 @ $105.06) (Germany)‡	(CCC+, Caa2)	02/15/15	10.125	257,120
100		Videotron Ltee, Global Company Guaranteed Notes (Callable 12/15/10 @ $103.19) (Canada)	(B+, Ba2)	12/15/15	6.375	98,750

						723,725

Metal & Mining - Excluding Steel (0.0%)
504		International Utility Structures, Inc., Subordinated Notes (Canada)^ø	(NR, NR)	02/01/08	13.000	0

Packaging (0.4%)
100		Gerresheimer Holdings GmbH, Rule 144A, Company Guaranteed Notes (Callable 02/15/10 @ $103.94) (Germany)‡	(B-, Caa1)	03/01/15	7.875	139,771

Pharmaceuticals (0.4%)
82		Biovail Corp., Yankee Senior Subordinated Notes (Callable 04/01/08 @ $100.00) (Canada)	(NR, NR)	04/01/10	7.875	83,614
75		Elan Finance PLC, Rule 144A, Senior Unsecured Notes (Callable 12/01/10 @ $104.44) (Ireland)‡	(B, B3)	12/01/13	8.875	76,594

						160,208

Printing & Publishing (0.2%)
75		Quebecor World, Inc., Rule 144A, Senior Notes (Callable 01/15/11 @ $104.88) (Canada)‡	(B+, B2)	01/15/15	9.750	79,125

Support-Services (0.8%)
75		Ashtead Holdings PLC, Rule 144A, Secured Notes (Callable 08/01/10 @ $104.31) (United Kingdom)‡	(B, B3)	08/01/15	8.625	78,750
150		Carlson Wagonlit BV, Rule 144A Senior Notes (Callable 11/01/07 @ $104.00) (Netherlands)#‡	(B-, B2)	05/01/15	9.531	210,904

						289,654

Par (000)			Ratings† (S&P/Moody’s)	Maturity	Rate%	Value

FOREIGN BONDS
Telecom - Intergrated/Services (2.9%)
$	150	BCM Ireland Finance, Rule 144A (Callable 08/15/07 @ $102.00) (Ireland)‡#	(B-, B2)	08/15/16	8.814	$	206,661
175		Global Crossing UK Finance, Global Company Guaranteed Notes (Callable 12/15/09 @ $105.38) (United Kingdom)§	(B-, B3)	12/15/14	10.750	190,750
100		Hellas II, Rule 144A, Subordinated Notes (Callable 01/15/08 @ $102.00) (Luxembourg)‡#	(CCC+, Caa1)	01/15/15	11.116	103,250
375		Intelsat, Ltd., Rule 144A, Senior Notes (Callable 06/15/11 @ $105.62) (Bermuda)‡	(B, Caa1)	06/15/16	11.250	427,500
100		Nordic Telephone Co. Holdings, Rule 144A, Notes (Callable 05/01/07 @ $102.00) (Denmark)‡#	(B, B2)	05/01/16	9.281	136,277

						1,064,438

Telecom - Wireless (0.2%)
50		Rogers Cable, Inc., Global Secured Notes (Canada)	(BB+, Baa3)	06/15/13	6.250	51,000
25		Rogers Wireless Communications, Inc., Global Secured Notes (Canada)§	(BB+, Ba1)	12/15/12	7.250	26,844

						77,844

Telecommunication Equipment (0.1%)
50		Nortel Networks, Ltd., Rule 144A, Company Guaranteed Notes (Canada)‡#	(B-, B3)	07/15/11	9.610	53,750

Textiles & Apparel (0.7%)
200		IT Holding Finance SA, Rule 144A, Senior Notes (Luxembourg)‡	(CCC+, Caa1)	11/15/12	9.875	275,548

Transportation - Excluding Air/Rail (0.4%)
150		Ship Finance International, Ltd., Global Company Guaranteed (Callable 12/15/08 @ $104.25) (Bermuda)	(B+, B1)	12/15/13	8.500	154,500

TOTAL FOREIGN BONDS (Cost $4,786,429)						4,542,900

Number of Shares		Value

COMMON STOCKS (0.6%)
Automobile Parts & Equipment (0.0%)
413,097	Cambridge Industries Liquidating Trust*^	0
588	Safelite Realty Corp.*^	4,704

		4,704

Electric - Integrated (0.3%)
2,525	Mirant Corp.*	102,161

Food - Wholesale (0.3%)
70	Crunch Equity Holding LLC Class A*	112,458

TOTAL COMMON STOCKS (Cost $144,444)		219,323

WARRANTS (0.0%)
Telecom - Wireless (0.0%)
500	iPCS, Inc., Rule 144A, strike price $5.50 expires 07/15/10*‡ (Cost $0)	0

SHORT-TERM INVESTMENT (25.4%)
9,411,595	State Street Navigator Prime Portfolio§§ (Cost $9,411,595)	9,411,595

TOTAL INVESTMENTS AT VALUE (125.8%) (Cost $46,576,929)		46,536,368
LIABILITIES IN EXCESS OF OTHER ASSETS (-25.8%)		(9,540,110)

NET ASSETS (100.0%)		$	36,996,258

INVESTMENT ABBREVIATION

NR=Not Rated

†		Credit ratings given by the Standard & Poor’s Division of The McGraw-Hill Companies, Inc. (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”) are unaudited.
‡		Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2007, these securities amounted to a value of $9,314,942 or 25.2% of net assets.
+		Step Bond — The interest rate stated is as of March 31, 2007 and will reset at a future date.
*		Non-income producing security.
^		Not readily marketable security; security is valued at fair value as determined in good faith by, or under the direction of, the Board of Directors.
#		Variable rate obligations — The interest rate shown is the rate as of March 31, 2007.
§		Security or portion thereof is out on loan.
§§		Represents security purchased with cash collateral received for securities on loan.
ø		Bond is currently in default.
(1)		Par value of security held is less than 1,000.

Security Valuation – The net asset value of the Fund is determined daily as of the close of regular trading on the New York Stock Exchange, Inc. (the “Exchange”) on each day the Exchange is open for business. Debt securities with a remaining maturity greater than 60 days are valued in accordance with the price supplied by a pricing service, which may use a matrix, formula or other objective method that takes into consideration market indices, yield curves and other specific adjustments. Debt obligations that will mature in 60 days or less are valued on the basis of amortized cost, which approximates market value, unless it is determined that using this method would not represent fair value. Equity investments are valued at market value, which is generally determined using the closing price on the exchange or market on which the security is primarily traded at the time of valuation (the “Valuation Time”). If no sales are reported, equity investments are generally valued at the most recent bid quotation as of the Valuation Time or at the lowest asked quotation in the case of a short sale of securities. Investments in mutual funds are valued at the mutual fund’s closing net asset value per share on the day of valuation. Securities and other assets for which market quotations are not readily available, or whose values have been materially affected by events occurring before the Fund’s Valuation Time but after the close of the securities’ primary markets, are valued at fair value as determined in good faith by, or under the direction of, the Board of Directors under procedures established by the Board of Directors. The Fund may utilize a service provided by an independent third party which has been approved by the Board of Directors to fair value certain securities. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.

Federal Income Tax Cost – At March 31, 2007, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized depreciation from investments were $46,576,929, $1,492,882, $(1,533,443) and $(40,561), respectively.

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is also available on the Fund’s website at www.credit-suisse.com/us as well as on the website of the Securities and Exchange Commission at www.sec.gov.

Item 2: Controls and Procedures

(a) As of a date within 90 days from the filing date of this report, the principal executive officer and principal financial officer 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”)), were effective based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities and Exchange Act of 1934.

(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: Exhibits

1. The certifications of the registrant as required by Rule 30a-2(a) under the Act are exhibits to this report.

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.

CREDIT SUISSE GLOBAL HIGH YIELD FUND, INC.

/s/Keith M. Schappert
Name:	Keith M. Schappert
Title:	Chief Executive Officer
Date:	May 23, 2007

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.

/s/Keith M. Schappert
Name:	Keith M. Schappert
Title:	Chief Executive Officer
Date:	May 23, 2007

/s/Michael A. Pignataro
Name:	Michael A. Pignataro
Title:	Chief Financial Officer
Date:	May 23, 2007

EX-99.CERT 2 a07-11835_15ex99dcert.htm EX-99.CERT

I, Keith M. Schappert, certify that:

1. I have reviewed this report on Form N-Q of Credit Suisse Global High Yield Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 23, 2007

/s/Keith M. Schappert
Name:	Keith M. Schappert
Title:	Chief Executive Officer

I, Michael A. Pignataro, certify that: