0001104659-07-085192.txt : 20071127 0001104659-07-085192.hdr.sgml : 20071127 20071127094229 ACCESSION NUMBER: 0001104659-07-085192 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071127 DATE AS OF CHANGE: 20071127 EFFECTIVENESS DATE: 20071127 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: 071267909 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 a07-27165_21nq.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:	July 1, 2007 to September 30, 2007

Item 1: Schedule of Investments

Credit Suisse Global High Yield Fund

Schedule of Investments

September 30, 2007 (unaudited)

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

CORPORATE BONDS (80.8%)
Aerospace & Defense (1.6%)
$	25	DRS Technologies, Inc., Company Guaranteed Notes (Callable 02/01/11 @ $103.81)§	(B, B3)	02/01/18	7.625	$	25,624
75		DRS Technologies, Inc., Global Senior Subordinated Notes (Callable 11/01/08 @ $103.44)	(B, B3)	11/01/13	6.875	75,375
125		Hawker Beechcraft Acquisition Co., Rule 144A, Senior Notes (Callable 04/01/11 @ $104.25)‡	(B-, B3)	04/01/15	8.500	128,125
75		Hawker Beechcraft Acquisition Co., Rule 144A, Senior Subordinated Notes (Callable 04/01/12 @ $104.88)‡	(B-, Caa1)	04/01/17	9.750	76,875
50		L-3 Communications Corp., Global Company Guaranteed Notes (Callable 07/15/08 @ $103.06)§	(BB+, Ba3)	07/15/13	6.125	49,375
125		L-3 Communications Corp., Global Senior Subordinated Notes (Callable 01/15/10 @ $102.94)	(BB+, Ba3)	01/15/15	5.875	120,625
125		TransDigm, Inc., Global Company Guaranteed Notes (Callable 07/15/09 @ $105.81)	(B-, B3)	07/15/14	7.750	126,875
						602,874
Agriculture (0.2%)
75		Southern States Cooperative, Inc., Rule 144A, Senior Notes (Callable 11/01/08 @ $104.00)‡	(B, Caa1)	11/01/10	10.500	77,625

Auto Loans (3.7%)
100		Ford Motor Credit Co. LLC, Global Notes	(B, B1)	06/15/10	7.875	97,811
250		Ford Motor Credit Co. LLC, Senior Unsecured Notes§	(B, B1)	12/15/16	8.000	234,245
310		Ford Motor Credit Co., Global Notes	(B, B1)	10/01/13	7.000	280,478
150		Ford Motor Credit Co., Notes§	(B, B1)	06/16/08	6.625	148,892
325		General Motors Acceptance Corp., Global Notes§	(BB+, Ba1)	12/01/14	6.750	294,976
350		GMAC LLC, Senior Unsubordinated Notes§	(BB+, Ba1)	12/15/11	6.000	323,334
						1,379,736
Automobile Parts & Equipment (1.1%)
75		Altra Industrial Motion, Inc., Global Secured Notes (Callable 12/01/08 @ $104.50)#	(CCC+, B2)	12/01/11	9.000	76,406
150		Goodyear Tire & Rubber Co., Global Senior Notes (Callable 07/01/10 @ $104.50)§	(B, Ba3)	07/01/15	9.000	160,875
33		Goodyear Tire & Rubber Co., Rule 144A, Senior Notes (Callable 12/01/09 @ $104.31)‡	(B, Ba3)	12/01/11	8.625	34,650
100		Stanadyne Corp., Global Senior Subordinated Notes (Callable 08/15/09 @ $105.00)	(CCC+, Caa1)	08/15/14	10.000	101,000
50		Visteon Corp., Global Senior Notes§	(CCC+, Caa2)	08/01/10	8.250	44,250
						417,181
Automotive (2.2%)
175		Ford Motor Co., Global Notes§	(CCC+, Caa1)	07/16/31	7.450	138,250
485		General Motors Corp., Global Debentures§	(B-, Caa1)	07/15/33	8.375	427,406
300		General Motors Corp., Global Senior Notes§	(B-, Caa1)	07/15/13	7.125	276,000
						841,656
Beverages (0.3%)
125		Constellation Brands, Inc., Company Guaranteed Notes§	(BB-, Ba3)	09/01/16	7.250	125,625

Brokerage (0.2%)
75		E*TRADE Financial Corp., Senior Unsecured Notes (Callable 12/01/10 @ $103.94)§	(BB-, Ba2)	12/01/15	7.875	69,750
Building & Construction (1.4%)
100		Ashton Woods USA/Finance, Global Company Guaranteed Notes (Callable 10/01/10 @ $104.75)	(B-, Caa1)	10/01/15	9.500	79,500
100		Beazer Homes USA, Inc., Global Company Guaranteed Notes (Callable 04/15/08 @ $102.79)§	(BB-, B1)	04/15/12	8.375	79,000
100		K Hovnanian Enterprises, Inc., Global Company Guaranteed Notes§	(BB-, Ba3)	01/15/16	6.250	77,500
125		KB Home, Senior Notes§	(BB+, Ba1)	06/15/15	6.250	107,344
75		Standard Pacific Corp., Global Senior Notes§	(BB, Ba3)	08/15/15	7.000	53,625
50		Technical Olympic USA, Inc., Rule 144A, Senior Notes‡#	(CCC-, Caa3)	04/01/11	9.250	29,750

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

CORPORATE BONDS
Building & Construction
$	50		WCI Communities, Inc., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.31)	(CCC-, Caa2)	03/15/15	6.625	$	35,250
75			William Lyon Homes, Inc., Global Senior Notes (Callable 12/15/08 @ $103.81)	(B, Caa1)	12/15/12	7.625	51,375
							513,344
Building Materials (1.4%)
100		Building Materials Corp., Global Secured Notes (Callable 08/01/09 @ $103.88)§		(BB-, B2)	08/01/14	7.750	91,000
100		Coleman Cable, Inc., Global Company Guaranteed Notes (Callable 10/01/08 @ $104.94)		(B, B2)	10/01/12	9.875	97,750
75		Goodman Global Holding Company, Inc., Global Senior Subordinated Notes (Callable 12/15/08 @ $103.94)		(B-, B3)	12/15/12	7.875	74,062
75		Norcraft Companies, Global Senior Subordinated Notes (Callable 11/01/07 @ $104.50)		(B-, B1)	11/01/11	9.000	75,750
75		Nortek, Inc., Global Senior Subordinated Notes (Callable 09/01/09 @ $104.25)		(CCC+, B3)	09/01/14	8.500	65,438
125		Ply Gem Industries, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50)§		(CCC+, Caa1)	02/15/12	9.000	101,875
							505,875
Chemicals (3.4%)
200		Chemtura Corp., Company Guaranteed Notes		(BB+, Ba2)	06/01/16	6.875	191,000
100		KI Holdings, Inc., Global Senior Discount Notes (Callable 11/15/09 @ $104.94)+		(B-, B3)	11/15/14	0.000	86,000
100		Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 06/01/08 @ $105.25)		(BB+, Ba2)	06/01/13	10.500	108,000
150		Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 09/15/10 @ $104.00)		(B+, B1)	09/15/14	8.000	165,750
150		Lyondell Chemical Co., Global Company Guaranteed Notes (Callable 09/15/11 @ $104.13)		(B+, B1)	09/15/16	8.250	169,875
110		Momentive Performance Materials, Inc., Rule 144A, Senior Subordinated Notes (Callable 12/01/11 @ $105.75)‡§		(CCC+, Caa2)	12/01/16	11.500	109,450
75		Momentive Performance, Rule 144A, Company Guaranteed Notes (Callable 12/01/10 @ $104.88)‡		(B-, B3)	12/01/14	9.750	74,625
100		Mosaic Co., Rule 144A, Senior Notes (Callable 12/01/11 @ $103.81)‡		(BB-, B1)	12/01/16	7.625	107,125
100		Nalco Finance Holdings, Inc., Global Senior Notes (Callable 02/01/09 @ $104.50)+		(B-, B3)	02/01/14	0.000	87,500
75		PolyOne Corp., Senior Notes§		(B+, B1)	05/01/12	8.875	77,625
100		Terra Capital, Inc., Global Company Guaranteed Notes (Callable 02/01/12 @ $103.50)		(BB-, B1)	02/01/17	7.000	98,000
							1,274,950
Computer Hardware (0.2%)
75		Activant Solutions, Inc., Global Company Guaranteed Notes (Callable 05/01/11 @ $104.75)§		(CCC+, Caa1)	05/01/16	9.500	66,188

Consumer Products (1.3%)
175		AAC Group Holding Corp., Global Senior Discount Notes (Callable 10/01/08 @ $105.13)+§		(CCC+, B3)	10/01/12	0.000	156,625
125		Amscan Holdings, Inc., Global Senior Subordinated Notes (Callable 05/01/09 @ $104.38)		(CCC+, Caa1)	05/01/14	8.750	116,250
100		Del Laboratories, Inc., Global Company Guaranteed Notes (Callable 02/01/08 @ $104.00)		(CCC, Caa2)	02/01/12	8.000	92,500
50		Jarden Corp., Company Guaranteed Notes (Callable 05/01/12 @ $103.75)		(B-, B3)	05/01/17	7.500	48,625
75		Prestige Brands, Inc., Global Senior Subordinated Notes (Callable 04/15/08 @ $104.63)§		(B-, B3)	04/15/12	9.250	76,125
							490,125
Consumer/Commercial/Lease Financing (0.4%)
125		Residential Capital LLC, Company Guaranteed Notes#		(BBB-, Ba1)	02/22/11	6.000	101,948

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

CORPORATE BONDS
Consumer/Commercial/Lease Financing
$	75	Residential Capital LLC, Company Guaranteed Notes§#	(BBB-, Ba1)	06/01/12	6.500	$	60,806
						162,754
Diversified Capital Goods (1.9%)
125		Actuant Corp., Rule 144A, Senior Notes (Callable 06/15/12 @ $103.44)‡§	(BB-, Ba2)	06/15/17	6.875	123,750
125		Esco Corp., Rule 144A, Senior Notes (Callable 12/15/10 @ $104.31)‡	(B, B2)	12/15/13	8.625	123,750
75		Mueller Water Products, Inc., Global Company Guaranteed Notes (Callable 06/01/12 @ $103.69)	(B, B3)	06/01/17	7.375	72,375
150		RBS Global & Rexnord Corp., Global Company Guaranteed Notes (Callable 08/01/10 @ $104.75)	(CCC+, B3)	08/01/14	9.500	156,000
50		Sensus Metering Systems, Global Senior Subordinated Notes (Callable 12/15/08 @ $104.31)	(B-, B3)	12/15/13	8.625	48,750
100		Titan International, Inc., Global Company Guaranteed Notes	(B, B3)	01/15/12	8.000	100,250
77		TriMas Corp., Global Company Guaranteed Notes (Callable 06/15/08 @ $103.29)	(B-, B3)	06/15/12	9.875	78,925
						703,800
Electric - Generation (4.0%)
175		AES Corp., Senior Notes§	(B, B1)	03/01/14	7.750	178,500
250		Dynegy Holdings, Inc., Global Senior Unsecured Notes§	(B-, B2)	05/01/16	8.375	252,500
125		Dynegy Holdings, Inc., Rule 144A, Senior Notes‡	(B-, B2)	06/01/15	7.500	121,250
150		Edison Mission Energy, Rule 144A, Senior Notes‡	(BB-, B1)	05/15/17	7.000	148,500
250		Midwest Generation LLC, Series B, Global Pass Thru Certificates	(BB+, Ba2)	01/02/16	8.560	267,971
175		NRG Energy, Inc., Company Guaranteed Notes (Callable 01/15/12 @ $103.69)	(B, B1)	01/15/17	7.375	175,438
75		NRG Energy, Inc., Company Guaranteed Notes (Callable 02/01/10 @ $103.63)	(B, B1)	02/01/14	7.250	75,375
50		NRG Energy, Inc., Company Guaranteed Notes (Callable 02/01/11 @ $103.69)§	(B, B1)	02/01/16	7.375	50,250
225		Reliant Energy, Inc., Senior Notes§	(B-, B3)	06/15/14	7.625	227,812
						1,497,596
Electric - Integrated (0.3%)
100		Mirant North America LLC, Global Company Guaranteed Notes (Callable 12/31/09 @ $103.69)	(B-, B2)	12/31/13	7.375	102,000

Electronics (2.0%)
150		Amkor Technology, Inc., Global Senior Notes (Callable 05/15/08 @ $103.88)	(B, B1)	05/15/13	7.750	145,312
36		Ampex Corp., Secured Notes^	(NR, NR)	08/15/08	12.000	36,205
300		Freescale Semiconductor, Inc., Global Senior Unsecured Notes (Callable 12/15/10 @ $104.44)§	(B, B1)	12/15/14	8.875	291,000
57		GrafTech Finance, Inc., Global Company Guaranteed Notes (Callable 02/15/08 @ $103.42)§	(B, B2)	02/15/12	10.250	59,708
100		Spansion, Inc., Rule 144A, Senior Notes (Callable 01/15/11 @ $105.62)‡§	(B, Caa1)	01/15/16	11.250	98,500
100		Viasystems, Inc., Global Senior Unsecured Notes (Callable 01/15/08 @ $105.25)	(B-, Caa1)	01/15/11	10.500	100,500
						731,225
Energy - Exploration & Production (3.3%)
75		Chaparral Energy, Inc., Rule 144A, Senior Notes (Callable 02/01/12 @ $104.44)‡	(CCC+, Caa1)	02/01/17	8.875	70,688
276		Chesapeake Energy Corp., Senior Notes (Callable 01/15/09 @ $103.44)	(BB, Ba2)	01/15/16	6.875	277,380
125		Encore Acquisition Co., Company Guaranteed Notes (Callable 12/01/10 @ $103.63)	(B, B1)	12/01/17	7.250	119,062
100		Forest Oil Corp., Global Company Guaranteed Notes (Callable 05/01/08 @ $102.58)	(B+, B1)	05/01/14	7.750	102,000
125		Hilcorp Energy I, Rule 144A, Senior Notes (Callable 06/01/11 @ $104.50)‡§	(B, B3)	06/01/16	9.000	128,125
150		Petrohawk Energy Corp., Global Company Guaranteed Notes (Callable 07/15/10 @ $104.56)	(B-, B3)	07/15/13	9.125	159,000

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

CORPORATE BONDS
Energy - Exploration & Production
$	150	Plains Exploration & Production, Co., Company Guaranteed Notes (Callable 06/15/11 @ $103.88)	(BB-, B1)	06/15/15	7.750	$	147,750
100		Range Resources Corp., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.19)§	(B+, Ba3)	03/15/15	6.375	98,000
125		Swift Energy Co., Senior Notes (Callable 07/15/08 @ $103.81)§	(BB-, B1)	07/15/11	7.625	125,937
						1,227,942
Environmental (1.1%)
225		Allied Waste North America, Inc., Series B, Global Senior Notes (Callable 04/15/09 @ $103.69)§	(B+, B2)	04/15/14	7.375	227,250
175		Waste Services, Inc., Global Senior Subordinated Notes (Callable 04/15/09 @ $104.75)	(CCC+, Caa1)	04/15/14	9.500	175,875
						403,125
Food & Drug Retailers (1.3%)
100		Albertson’s LLC, Senior Notes	(B, B1)	05/01/13	7.250	101,132
175		Duane Reade, Inc., Global Senior Subordinated Notes (Callable 08/01/08 @ $104.88)§	(CC, Caa3)	08/01/11	9.750	168,437
75		Ingles Markets, Inc., Global Company Guaranteed Notes (Callable 12/01/07 @ $102.90)	(B, B3)	12/01/11	8.875	76,875
60		Rite Aid Corp., Rule 144A, Company Guaranteed Notes (Callable 06/15/11 @ $104.69)‡	(CCC+, Caa1)	12/15/15	9.375	56,100
25		Stater Brothers Holdings, Inc., Global Company Guaranteed Notes (Callable 04/15/11 @ $103.88)	(B+, B2)	04/15/15	7.750	24,875
75		Stater Brothers Holdings, Inc., Global Senior Notes (Callable 06/15/08 @ $104.06)§	(B+, B2)	06/15/12	8.125	76,781
						504,200
Food - Wholesale (0.7%)
75		Dole Food Co., Debentures#§	(B-, Caa1)	07/15/13	8.750	73,500
75		National Beef Packing Company LLC, Global Senior Unsecured Notes (Callable 08/01/08 @ $102.63)	(B-, Caa1)	08/01/11	10.500	76,500
100		Smithfield Foods, Inc., Senior Unsecured Notes§	(BB, Ba3)	07/01/17	7.750	103,000
						253,000
Forestry & Paper (3.2%)
150		Boise Cascade LLC, Global Company Guaranteed Notes (Callable 10/15/09 @ $103.56)	(B+, B2)	10/15/14	7.125	144,750
125		Cellu Tissue Holdings, Inc., Global Secured Notes (Callable 03/15/08 @ $103.67)	(B, B2)	03/15/10	9.750	123,125
175		Georgia-Pacific Corp., Debentures	(B, B2)	06/15/15	7.700	175,000
75		Georgia-Pacific Corp., Rule 144A, Company Guaranteed Notes (Callable 01/15/12 @ $103.56)‡	(B, Ba3)	01/15/17	7.125	72,938
100		Graphic Packaging International Corp., Global Senior Subordinated Notes (Callable 08/15/08 @ $104.75)	(B-, B3)	08/15/13	9.500	103,250
150		NewPage Corp., Global Company Guaranteed Notes (Callable 05/01/09 @ $106.00)	(B, B2)	05/01/12	10.000	158,625
50		NewPage Corp., Global Company Guaranteed Notes (Callable 05/01/09 @ $106.00)§	(CCC+, B3)	05/01/13	12.000	53,875
250		Smurfit-Stone Container, Global Senior Notes (Callable 07/01/08 @ $102.79)	(CCC+, B3)	07/01/12	8.375	251,250
125		Verso Paper Holdings LLC, Series B, Global Secured Notes (Callable 08/01/10 @ $104.56)§	(B+, B2)	08/01/14	9.125	129,375
						1,212,188
Gaming (4.4%)
75		Buffalo Thunder Development Authority, Rule 144A, Secured Notes (Callable 12/15/10 @ $104.69)‡	(B, B2)	12/15/14	9.375	70,875
100		CCM Merger, Inc., Rule 144A, Notes (Callable 08/01/09 @ $104.00)‡	(CCC+, B3)	08/01/13	8.000	98,000
25		Choctaw Resort Development Enterprise, Rule 144A, Senior Notes (Callable 11/15/11 @ $103.63)‡	(BB, Ba2)	11/15/19	7.250	24,719
60		Fontainebleau Las Vegas, Rule 144A, Second Mortgage Notes (Callable 06/15/11 @ $105.13)‡	(CCC+, Caa1)	06/15/15	10.250	56,550

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

CORPORATE BONDS
Gaming
$	100	Herbst Gaming, Inc., Global Senior Subordinated Notes (Callable 06/01/08 @ $104.06)§	(B-, B3)	06/01/12	8.125	$	90,125
100		Inn of the Mountain Gods, Global Senior Notes (Callable 11/15/07 @ $106.00)	(B, B3)	11/15/10	12.000	106,000
150		Jacobs Entertainment, Inc., Global Company Guaranteed Notes (Callable 06/15/10 @ $104.88)	(B-, B3)	06/15/14	9.750	150,000
75		Majestic Star Casino LLC, Company Guaranteed Notes (Callable 10/15/08 @ $102.38)	(B+, B1)	10/15/10	9.500	72,375
25		Majestic Star LLC, Global Senior Unsecured Notes (Callable 10/15/08 @ $104.88)	(CCC+, Caa1)	01/15/11	9.750	21,125
175		MGM Mirage, Inc., Company Guaranteed Notes§	(BB, Ba2)	06/01/16	7.500	174,781
225		MGM Mirage, Inc., Company Guaranteed Notes	(BB, Ba2)	01/15/17	7.625	223,875
100		MGM Mirage, Inc., Global Company Guaranteed Notes	(BB, Ba2)	04/01/13	6.750	98,250
125		Trump Entertainment Resorts, Inc., Secured Notes (Callable 06/01/10 @ $104.25)	(B, Caa1)	06/01/15	8.500	104,687
100		Turning Stone Resort Casino Enterprise, Rule 144A, Senior Notes (Callable 09/15/10 @ $104.56)‡	(B+, B1)	09/15/14	9.125	104,000
175		Wimar Opco LLC, Rule 144A, Senior Subordinated Notes (Callable 12/15/10 @ $104.81)‡	(CCC+, Caa1)	12/15/14	9.625	136,500
100		Wynn Las Vegas LLC, Global First Mortgage Notes (Callable 12/01/09 @ $103.31)	(BB+, B1)	12/01/14	6.625	98,500
						1,630,362
Gas Distribution (2.8%)
125		Amerigas Partners/Eagle Finance Corp., Senior Notes (Callable 05/20/11 @ $103.56)§	(NR, B1)	05/20/16	7.125	122,188
225		El Paso Performance-Link, Rule 144A, Notes‡	(BB, Ba3)	07/15/11	7.750	232,265
100		Inergy LP/Inergy Finance Corp., Global Company Guaranteed Notes (Callable 03/01/11 @ $104.13)	(B, B1)	03/01/16	8.250	103,750
225		Williams Companies, Inc., Global Senior Unsecured Notes§	(BB, Ba2)	03/15/12	8.125	243,562
325		Williams Partners LP, Global Company Guaranteed Notes	(BB+, Ba3)	02/01/17	7.250	333,125
						1,034,890
Health Services (5.0%)
125		Community Health Systems, Inc., Rule 144A, Senior Notes (Callable 07/15/11 @ $104.44)‡	(B-, B3)	07/15/15	8.875	129,062
75		DaVita, Inc., Global Company Guaranteed Notes (Callable 03/15/10 @ $103.63)§	(B, B2)	03/15/15	7.250	75,563
225		HCA, Inc., Global Senior Unsecured Notes§	(B-, Caa1)	02/15/16	6.500	192,375
225		HCA, Inc., Rule 144A, Secured Notes (Callable 11/15/11 @ $104.63)‡	(BB-, B2)	11/15/16	9.250	239,625
325		HCA, Inc., Senior Unsecured Notes§	(B-, Caa1)	02/15/13	6.250	288,437
100		Healthsouth Corp., Global Company Guaranteed Notes (Callable 06/15/11 @ $105.38)§	(CCC+, Caa1)	06/15/16	10.750	105,750
75		Iasis Healthcare/Capital Corp., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.38)	(CCC+, B3)	06/15/14	8.750	76,312
75		OMEGA Healthcare Investors, Inc., Global Company Guaranteed Notes (Callable 01/15/11 @ $103.50)	(BB, Ba3)	01/15/16	7.000	74,719
75		Senior Housing Properties Trust, Senior Notes	(BB+, Ba2)	01/15/12	8.625	81,000
50		Service Corporation International, Global Senior Notes	(BB-, B1)	10/01/14	7.375	51,625
50		Service Corporation International, Global Senior Notes§	(BB-, B1)	10/01/18	7.625	52,125
75		Stewart Enterprises, Inc., Global Senior Notes (Callable 02/15/09 @ $103.13)	(B+, Ba3)	02/15/13	6.250	73,313
250		Tenet Healthcare Corp., Global Senior Notes§	(CCC+, Caa1)	07/01/14	9.875	230,000
50		Universal Hospital Services, Inc., Rule 144A, Secured Notes (Callable 06/01/09 @ $102.00)‡#	(B+, B3)	06/01/15	8.759	50,000
50		Universal Hospital Services, Inc., Rule 144A, Secured Notes (Callable 06/01/11 @ $104.25)‡	(B+, B3)	06/01/15	8.500	49,750
100		Vanguard Health Holding Co., Global Senior Subordinated Notes (Callable 10/01/09 @ $104.50)§	(CCC+, Caa1)	10/01/14	9.000	97,500
						1,867,156
Hotels (0.8%)
50		Felcor Lodging LP, Global Company Guaranteed Notes#	(B+, Ba3)	06/01/11	8.500	53,000

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

CORPORATE BONDS
Hotels
$	250	Host Marriott LP, Series Q, Global Company Guaranteed Notes (Callable 06/01/11 @ $103.33)	(BB, Ba1)	06/01/16	6.750	$	248,750
						301,750
Household & Leisure Products (0.3%)
75		Sealy Mattress Co., Global Senior Subordinated Notes (Callable 06/15/09 @ $104.13)§	(B, B2)	06/15/14	8.250	75,938
50		Simmons Bedding Co., Global Senior Subordinated Notes (Callable 01/15/09 @ $103.94)	(CCC+, B2)	01/15/14	7.875	48,250
						124,188
Leisure (0.7%)
75		Bally Total Fitness Holding Corp., Global Company Guaranteed Notes (Callable 07/15/08 @ $102.63)ø§	(NR, NR)	07/15/11	10.500	79,500
75		Six Flags, Inc., Global Senior Notes (Callable 04/15/08 @ $104.88)§	(CCC, Caa1)	04/15/13	9.750	63,938
150		Six Flags, Inc., Global Senior Notes (Callable 06/01/09 @ $104.81)§	(CCC, Caa1)	06/01/14	9.625	124,687
						268,125
Machinery (0.3%)
100		Baldor Electric Co., Company Guaranteed Notes (Callable 02/15/12 @ $104.31)	(B, B3)	02/15/17	8.625	105,000

Media - Broadcast (1.8%)
75		Allbritton Communications Co., Global Senior Subordinated Notes (Callable 12/15/07 @ $103.88)	(B-, B1)	12/15/12	7.750	76,125
100		Barrington Broadcasting, Rule 144A, Senior Subordinated Notes (Callable 08/15/10 @ $105.25)‡	(CCC+, B3)	08/15/14	10.500	103,500
100		Fisher Communications, Inc., Global Senior Notes (Callable 09/15/09 @ $104.31)	(B-, B2)	09/15/14	8.625	104,000
100		ION Media Networks, Inc., Rule 144A, Secured Notes (Callable 01/15/08 @ $102.00)‡#	(CCC-, Caa2)	01/15/13	11.610	102,250
100		Rainbow National Services LLC, Rule 144A, Senior Notes (Callable 09/01/08 @ $104.38)‡	(B+, B2)	09/01/12	8.750	104,250
115		Univision Communications, Inc., Rule 144A, Senior Notes (Callable 03/15/11 @ $104.88)‡§	(CCC+, B3)	03/15/15	9.750	112,700
100		Young Broadcasting, Inc., Global Senior Subordinated Notes (Callable 01/15/09 @ $104.38)§	(CCC-, Caa1)	01/15/14	8.750	85,000
						687,825
Media - Cable (4.9%)
150		Atlantic Broadband Finance LLC, Global Company Guaranteed Notes (Callable 01/15/09 @ $104.69)	(CCC+, Caa1)	01/15/14	9.375	146,250
300		CCH I Holdings LLC, Global Company Guaranteed Notes	(CCC, Caa3)	04/01/14	9.920	259,500
300		CCH I LLC, Global Secured Notes (Callable 10/01/10 @ $105.50)	(CCC, Caa2)	10/01/15	11.000	305,250
125		CCH II LLC, Series B, Global Senior Unsecured Notes (Callable 09/15/08 @ $105.13)	(CCC, Caa2)	09/15/10	10.250	130,625
83		Charter Communications Holdings LLC, Senior Discount Notes§	(CCC, Caa3)	04/01/11	9.920	76,879
175		CSC Holdings, Inc., Global Senior Unsecured Notes§	(B+, B2)	04/15/12	6.750	169,312
35		CSC Holdings, Inc., Series B, Senior Unsecured Notes	(B+, B2)	04/01/11	7.625	35,263
125		DirecTV Holdings/Finance, Global Senior Notes (Callable 03/15/08 @ $104.19)	(BB-, Ba3)	03/15/13	8.375	130,469
175		EchoStar DBS Corp., Global Company Guaranteed Notes	(BB-, Ba3)	10/01/14	6.625	176,312
52		Insight Midwest/Insight Capital Corp., Senior Notes (Callable 11/09/07 @ $100.00)§	(B, B3)	10/01/09	9.750	52,195
100		Local TV Finance LLC, Rule 144A, Senior Unsecured Notes (Callable 06/15/11 @ $104.63)‡	(CCC+, Caa1)	06/15/15	9.250	94,500
50		Mediacom Broadband LLC, Global Senior Notes (Callable 10/15/10 @ $104.25)§	(B, B3)	10/15/15	8.500	50,375
75		Mediacom LLC/Capital Corp., Senior Notes (Callable 02/15/08 @ $100.00)§	(B, B3)	02/15/11	7.875	74,063

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

CORPORATE BONDS
Media - Cable
$	135	TL Acquisitions, Inc., Rule 144A, Senior Notes (Callable 07/15/11 @ $105.25)‡	(CCC+, Caa1)	01/15/15	10.500	$	133,987
						1,834,980
Media - Services (0.2%)
100		WMG Holdings Corp., Global Company Guaranteed Notes (Callable 12/15/09 @ $104.75)+	(B, B2)	12/15/14	0.000	70,500

Metals & Mining - Excluding Steel (2.1%)
100		Aleris International, Inc., Global Company Guaranteed Notes (Callable 12/15/10 @ $104.50)§	(B-, B3)	12/15/14	9.000	93,000
25		Aleris International, Inc., Global Company Guaranteed Notes (Callable 12/15/11 @ $105.00)	(B-, Caa1)	12/15/16	10.000	22,250
175		Freeport - McMoRan Copper & Gold, Inc., Senior Unsecured Notes (Callable 04/01/11 @ $104.13)	(BB, Ba3)	04/01/15	8.250	189,438
175		Freeport - McMoRan Copper & Gold, Inc., Senior Unsecured Notes (Callable 04/01/12 @ $104.19)	(BB, Ba3)	04/01/17	8.375	191,625
150		Noranda Aluminum Acquisition, Rule 144A, Senior Unsecured Notes (Callable 05/15/08 @ $102.00)‡#	(CCC+, B3)	05/15/15	9.360	141,750
125		Peabody Energy Corp., Global Company Guaranteed Notes	(BB, Ba1)	11/01/16	7.375	132,500
						770,563
Mortgage Banks & Thrifts (0.4%)
160		Countrywide Home Loans, Inc., Series MTNK, Global Notes§	(BBB+, Baa3)	12/19/07	4.250	158,156

Non-Food & Drug Retailers (2.4%)
100		Affinity Group, Inc., Global Senior Subordinated Notes (Callable 02/15/08 @ $104.50)	(CCC+, B3)	02/15/12	9.000	102,500
75		Asbury Automotive Group, Inc., Rule 144A, Senior Subordinated Notes (Callable 03/15/12 @ $103.81)‡	(B, B3)	03/15/17	7.625	69,375
100		Brookstone Company, Inc., Global Secured Notes (Callable 10/15/09 @ $106.00)§	(B, Caa1)	10/15/12	12.000	99,500
95		Claire’s Stores, Inc., Rule 144A, Senior Notes (Callable 06/01/11 @ $104.81)§‡	(CCC+, Caa1)	06/01/15	9.625	78,613
75		Finlay Fine Jewelry Corp., Global Senior Notes (Callable 06/01/08 @ $104.19)	(B-, Caa1)	06/01/12	8.375	57,375
370		Flooring America, Inc., Series B, Company Guaranteed Notes^ø	(NR, NR)	10/15/07	9.250	0
25		GameStop Corp., Global Company Guaranteed Notes (Callable 10/01/09 @ $104.00)§	(BB, Ba3)	10/01/12	8.000	26,125
25		Michaels Stores, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $105.00)§	(CCC, B2)	11/01/14	10.000	25,750
175		Michaels Stores, Inc., Global Company Guaranteed Notes (Callable 11/01/11 @ $105.69)§	(CCC, Caa1)	11/01/16	11.375	179,812
100		Neiman Marcus Group, Inc., Global Company Guaranteed Notes (Callable 10/15/10 @ $105.19)§	(B-, B3)	10/15/15	10.375	109,500
89		Susser Holdings LLC, Global Company Guaranteed Notes (Callable 12/15/09 @ $105.31)	(B+, B2)	12/15/13	10.625	92,115
50		Yankee Acquisition Corp., Series B, Global Company Guaranteed Notes (Callable 02/15/11 @ $104.25)§	(CCC+, B3)	02/15/15	8.500	48,750
25		Yankee Acquisition Corp., Series B, Global Company Guaranteed Notes (Callable 02/15/12 @ $104.88)§	(CCC+, Caa1)	02/15/17	9.750	23,750
						913,165
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	176,750

Oil Field Equipment & Services (0.3%)
125		Pride International, Inc., Global Senior Notes (Callable 07/15/09 @ $103.69)	(BB-, Ba2)	07/15/14	7.375	128,750

Oil Refining & Marketing (0.5%)
100		Frontier Oil Corp., Global Senior Notes (Callable 10/01/08 @ $102.21)§	(B+, B1)	10/01/11	6.625	98,750
100		Tesoro Corp., Rule 144A, Senior Notes (Callable 06/01/12 @ $103.25)‡	(BB+, Ba1)	06/01/17	6.500	99,750
						198,500

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

CORPORATE BONDS
Packaging (2.5%)
$	75	Ball Corp., Company Guaranteed Notes (Callable 03/15/11 @ $103.31)§	(BB, Ba1)	03/15/18	6.625	$	73,875
100		Berry Plastics Holding Corp., Global Company Guaranteed Notes (Callable 03/01/11 @ $105.13)§	(CCC+, Caa2)	03/01/16	10.250	98,500
165		Berry Plastics Holding Corp., Global Secured Notes (Callable 09/15/10 @ $104.44)§	(B, B3)	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	77,500
70		Crown Americas LLC, Global Senior Notes (Callable 11/15/10 @ $103.88)§	(B, B1)	11/15/15	7.750	72,625
125		Graham Packaging Company, Inc., Global Subordinated Notes (Callable 10/15/09 @ $104.94)§	(CCC+, Caa1)	10/15/14	9.875	124,375
50		Owens-Brockway Glass Containers, Inc., Rule 144A, Senior Notes (Callable 05/15/08 @ $104.13)‡	(B, B3)	05/15/13	8.250	52,000
75		Owens-Illinois, Inc., Debentures	(B, Caa1)	05/15/18	7.800	74,250
75		Pliant Corp., Global Company Guaranteed Notes (Callable 06/01/08 @ $102.78)§	(CCC, Caa1)	09/01/09	11.125	67,875
0		Pliant Corp., Global Secured Notes (Callable 12/15/07 @ $108.72)1	(B, NR)	06/15/09	11.625	127
150		Solo Cup Co., Global Senior Subordinated Notes (Callable 02/15/09 @ $104.25)§	(CCC-, Caa2)	02/15/14	8.500	133,500
						944,164
Printing & Publishing (2.4%)
75		American Media Operations, Inc., Series B, Global Company Guaranteed Notes§	(CCC-, Caa2)	05/01/09	10.250	66,937
75		CBD Media Holdings/Finance, Global Senior Notes (Callable 07/15/08 @ $104.63)	(CCC+, Caa1)	07/15/12	9.250	80,932
25		Dex Media, Inc., Global Senior Unsecured Notes (Callable 11/15/08 @ $104.00)	(B, B2)	11/15/13	8.000	25,313
100		Idearc, Inc., Global Company Guaranteed Notes (Callable 11/15/11 @ $104.00)	(BB, B2)	11/15/16	8.000	100,250
500		Premier Graphics, Inc., Company Guaranteed Notes^ø	(NR, NR)	12/01/05	11.500	0
25		R.H. Donnelley Corp., Rule 144A, Senior Notes (Callable 10/15/12 @ $104.44)‡	(B, B3)	10/15/17	8.875	25,469
250		R.H. Donnelley Corp., Global Senior Unsecured Notes (Callable 01/15/09 @ $103.44)§	(B, B3)	01/15/13	6.875	237,500
125		R.H. Donnelley Corp., Series A-2, Global Senior Discount Notes (Callable 01/15/09 @ $103.44)§	(B, B3)	01/15/13	6.875	118,750
50		R.H. Donnelley Corp., Series A-3, Global Senior Notes (Callable 01/15/11 @ $104.44)§	(B, B3)	01/15/16	8.875	51,187
100		Reader’s Digest Association, Inc., Rule 144A, Senior Subordinated Notes (Callable 02/15/12 @ $104.50)‡	(CCC+, Caa1)	02/15/17	9.000	90,500
110		Valassis Communications, Inc., Global Company Guaranteed Notes (Callable 03/01/11 @ $104.13)§	(B-, B3)	03/01/15	8.250	96,250
						893,088
Restaurants (0.4%)
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	35,250
50		Denny’s Corp., Global Company Guaranteed Notes (Callable 10/01/08 @ $105.00)	(B-, B3)	10/01/12	10.000	51,875
50		OSI Restaurant Partners, Inc., Rule 144A, Senior Notes (Callable 06/15/11 @ $105.00)‡§	(CCC+, Caa1)	06/15/15	10.000	44,500
						131,625
Software/Services (0.6%)
225		SunGard Data Systems, Inc., Global Company Guaranteed Notes (Callable 08/15/10 @ $105.13)§	(B-, Caa1)	08/15/15	10.250	236,250

Steel Producers/Products (0.8%)
100		AK Steel Corp., Global Company Guaranteed Notes (Callable 06/15/08 @ $102.58)§	(B+, B1)	06/15/12	7.750	101,750

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

CORPORATE BONDS
Steel Producers/Products
$	110	PNA Group, Inc., Global Senior Unsecured Notes (Callable 09/01/11 @ $105.38)	(B-, B3)	09/01/16	10.750	$	112,750
100		Rathgibson, Inc., Global Company Guaranteed Notes (Callable 02/15/10 @ $105.62)	(B-, B3)	02/15/14	11.250	102,750
						317,250
Support-Services (4.8%)
125		ARAMARK Corp., Global Company Guaranteed Notes (Callable 02/01/11 @ $104.25)§	(B-, B3)	02/01/15	8.500	128,125
75		Ashtead Capital, Inc., Rule 144A, Notes (Callable 08/15/11 @ $104.50)‡	(B, B1)	08/15/16	9.000	74,344
50		Education Management LLC, Global Company Guaranteed Notes (Callable 06/01/10 @ $104.38)§	(CCC+, B2)	06/01/14	8.750	51,500
75		Education Management LLC, Global Company Guaranteed Notes (Callable 06/01/11 @ $105.13)	(CCC+, Caa1)	06/01/16	10.250	78,000
150		Hertz Corp., Global Company Guaranteed Notes (Callable 01/01/10 @ $104.44)	(B, B1)	01/01/14	8.875	155,250
75		Iron Mountain, Inc., Company Guaranteed Notes (Callable 07/01/08 @ $103.31)	(B, B3)	01/01/16	6.625	70,500
100		Johnsondiversey Holdings, Inc., Global Discount Notes (Callable 05/15/08 @ $103.56)	(CCC+, Caa1)	05/15/13	10.670	101,500
75		Johnsondiversey, Inc., Series B, Global Company Guaranteed Notes (Callable 05/15/08 @ $103.21)	(CCC+, B3)	05/15/12	9.625	76,500
75		Kar Holdings, Inc., Rule 144A, Senior Notes (Callable 05/01/10 @ $104.38)‡	(CCC, B3)	05/01/14	8.750	72,187
25		Kar Holdings, Inc., Rule 144A, Senior Subordinated Notes (Callable 04/01/11 @ $105.00)‡	(CCC, Caa1)	05/01/15	10.000	23,563
100		Mobile Mini, Inc., Global Company Guaranteed Notes (Callable 05/01/11 @ $103.44)	(BB-, B1)	05/01/15	6.875	97,750
100		Mobile Services Group, Inc., Rule 144A, Senior Notes (Callable 08/01/10 @ $104.88)‡	(B-, B3)	08/01/14	9.750	100,500
125		Neff Corp., Global Company Guaranteed Notes (Callable 06/01/11 @ $105.00)§	(B-, Caa2)	06/01/15	10.000	89,375
150		Rental Service Corp., Global Company Guaranteed Notes (Callable 12/01/10 @ $104.75)§	(B-, Caa1)	12/01/14	9.500	144,000
50		Travelport LLC, Global Company Guaranteed Notes (Callable 09/01/11 @ $105.94)§	(CCC+, Caa1)	09/01/16	11.875	52,625
105		Travelport LLC., Global Company Guaranteed Notes (Callable 09/01/10 @ $104.94)	(CCC+, B3)	09/01/14	9.875	107,625
125		United Rentals North America, Inc., Global Senior Subordinated Notes (Callable 02/15/09 @ $103.50)	(B, B3)	02/15/14	7.000	128,125
100		Varietal Distribution, Rule 144A, Senior Notes (Callable 07/15/11 @ $105.13)‡	(CCC+, Caa1)	07/15/15	10.250	97,000
150		Williams Scotsman, Inc., Global Company Guaranteed Notes (Callable 10/01/10 @ $104.25)	(B+, B2)	10/01/15	8.500	165,750
						1,814,219
Telecom - Fixed Line (1.1%)
250		Level 3 Financing, Inc., Global Company Guaranteed Notes (Callable 02/15/09 @ $102.00)#	(CCC+, B3)	02/15/15	9.150	239,375
25		Level 3 Financing, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $104.63)	(CCC+, B3)	11/01/14	9.250	24,750
100		Paetec Holding Corp., Rule 144A, Senior Notes (Callable 07/15/11 @ $104.75)‡	(CCC+, Caa1)	07/15/15	9.500	100,500
50		Time Warner Telecom Holdings, Inc., Global Company Guaranteed Notes (Callable 02/15/09 @ $104.62)	(CCC+, B3)	02/15/14	9.250	52,125
						416,750
Telecom - Integrated/Services (2.8%)
150		Cincinnati Bell, Inc., Global Senior Subordinated Notes (Callable 01/15/09 @ $104.19)§	(B-, B2)	01/15/14	8.375	150,375
50		Citizens Communications Co., Senior Notes§	(BB+, Ba2)	01/15/13	6.250	49,000
50		Hawaiian Telcom Communications, Inc., Series B, Global Company Guaranteed Notes (Callable 05/01/10 @ $106.25)§	(CCC, Caa1)	05/01/15	12.500	54,250

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

CORPORATE BONDS
Telecom - Integrated/Services
$	150	Hughes Network Systems LLC, Global Company Guaranteed Notes (Callable 04/15/10 @ $104.75)	(B-, B1)	04/15/14	9.500	$	151,875
125		Qwest Communications International, Inc., Series B, Global Company Guaranteed Notes (Callable 02/15/09 @ $103.75)	(B+, Ba3)	02/15/14	7.500	127,187
240		Qwest Corp., Global Senior Notes	(BBB-, Ba1)	06/15/15	7.625	252,600
50		Qwest Corp., Global Senior Unsecured Notes	(BBB-, Ba1)	10/01/14	7.500	52,250
25		Windstream Corp., Global Company Guaranteed Notes§	(BB-, Ba3)	08/01/13	8.125	26,438
175		Windstream Corp., Global Company Guaranteed Notes (Callable 08/01/11 @ $104.31)	(BB-, Ba3)	08/01/16	8.625	187,469
						1,051,444
Telecom - Wireless (1.7%)
75		Centennial Cellular Communications Corp., Global Company Guaranteed Notes (Callable 06/15/08 @ $105.06)	(CCC+, B2)	06/15/13	10.125	79,875
75		Cricket Communications, Inc., Global Company Guaranteed Notes (Callable 11/01/10 @ $104.69)	(CCC, Caa1)	11/01/14	9.375	76,500
175		Dobson Cellular Systems, Inc., Global Secured Notes (Callable 11/01/08 @ $104.94)	(B-, B1)	11/01/12	9.875	189,875
125		Metro PCS Wireless, Inc., Rule 144A, Senior Notes (Callable 11/01/10 @ $104.63)‡	(CCC, Caa1)	11/01/14	9.250	128,125
75		Rural Cellular Corp., Rule 144A, Senior Subordinated Notes (Callable 06/01/08 @ $102.00)‡#	(CCC, Caa2)	06/01/13	8.621	77,250
75		SunCom Wireless Holdings, Inc., Global Company Guaranteed Notes (Callable 06/01/08 @ $104.25)	(CCC, Caa2)	06/01/13	8.500	78,844
						630,469
Textiles & Apparel (0.4%)
75		Levi Strauss & Co., Global Senior Notes (Callable 01/15/10 @ $104.88)§	(B+, B2)	01/15/15	9.750	79,125
75		Levi Strauss & Co., Global Senior Notes (Callable 12/15/07 @ $106.13)§	(B+, B2)	12/15/12	12.250	81,017
						160,142
Theaters & Entertainment (0.4%)
150		AMC Entertainment, Inc., Global Senior Subordinated Notes (Callable 03/01/09 @ $104.00)	(CCC+, B2)	03/01/14	8.000	143,625

Transportation - Excluding Air/Rail (0.3%)
100		Bristow Group, Inc., Rule 144A, Senior Notes (Callable 09/15/12 @ $103.75)‡	(BB, Ba2)	09/15/17	7.500	102,500
TOTAL CORPORATE BONDS (Cost $31,465,628)						30,274,945

FOREIGN BONDS (11.0%)
Chemicals (0.7%)
150		Basell AF SCA, Rule 144A, Company Guaranteed Notes (Callable 08/15/10 @ $104.19) (Luxembourg)‡	(B, B2)	08/15/15	8.375	137,625
125		Ineos Group Holdings PLC, Rule 144A, Notes (Callable 02/15/11 @ $104.25) (United Kingdom)‡	(B-, B3)	02/15/16	8.500	120,312
						257,937
Electronics (0.7%)
75		Avago Technologies Finance, Global Company Guaranteed Notes (Callable 12/01/09 @ $105.06) (Singapore)#	(B, B2)	12/01/13	10.125	81,000
75		NXP BV/NXP Funding LLC, Global Company Secured Notes (Callable 10/15/11 @ $104.75) (Netherlands)§	(B, B3)	10/15/15	9.500	70,125
125		NXP BV/NXP Funding LLC, Global Secured Notes (Callable 10/15/10 @ $103.94) (Netherlands)	(BB, Ba3)	10/15/14	7.875	120,781
						271,906
Energy - Exploration & Production (0.5%)
175		OPTI Canada, Inc., Rule 144A, Company Guaranteed Notes (Callable 12/15/10 @ $104.13) (Canada)‡	(BB+, B1)	12/15/14	8.250	177,188

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

FOREIGN BONDS
Forestry & Paper (0.7%)
$	150	Abitibi-Consolidated, Inc., Global Notes (Canada)§	(B, B3)	06/15/11	7.750	$	116,250
50		Bowater Canada Finance Corp., Global Company Guaranteed Notes (Canada)§	(B, B3)	11/15/11	7.950	41,375
100		Smurfit Kappa Funding, Global Senior Subordinated Notes (Callable 01/31/10 @ $103.88) (Ireland)	(B, B2)	04/01/15	7.750	98,000
30		Tembec Industries, Inc., Global Company Guaranteed Notes (Canada)§	(CCC-, Ca)	03/15/12	7.750	11,700
						267,325
Gaming (0.6%)
150		Codere Finance Luxembourg SA, Senior Notes (Callable 06/15/10 @ $104.13) (Luxembourg)	(B, B2)	06/15/15	8.250	213,056

Leisure (0.2%)
75		NCL Corp., Global Senior Notes (Callable 07/15/09 @ $105.31) (Bermuda)#	(B, B3)	07/15/14	10.625	75,938

Media (0.3%)
125		Quebecor Media, Inc., Rule 144A, Notes (Canada)‡	(B, B2)	03/15/16	7.750	119,844

Media - Cable (1.5%)
175		Unity Media GmbH, Rule 144A, Secured Notes (Callable 02/15/10 @ $105.06) (Germany)‡	(CCC+, Caa2)	02/15/15	10.125	261,942
150		Virgin Media Finance PLC, Global Company Guaranteed Notes (Callable 04/15/09 @ $104.88) (United Kingdom)	(B-, B2)	04/15/14	9.750	306,366
						568,308
Metals & Mining - Excluding Steel (0.0%)
504		International Utility Structures, Inc., Subordinated Notes (Canada)^ø	(NR, NR)	02/01/08	13.000	0

Oil Refining & Marketing (0.2%)
50		Petroplus Finance, Ltd., Rule 144A, Company Guaranteed Notes (Callable 05/01/11 @ $103.38) (Bermuda)‡	(BB-, B1)	05/01/14	6.750	48,250
25		Petroplus Finance, Ltd., Rule 144A, Company Guaranteed Notes (Callable 05/01/12 @ $103.50) (Bermuda)‡	(BB-, B1)	05/01/17	7.000	23,875
						72,125
Packaging (0.2%)
60		Gerresheimer Holdings GMBH, Rule 144A, Company Guaranteed Notes (Callable 02/15/10 @ 103.94) (Germany)‡	(B+, B2)	03/01/15	7.875	88,742

Pharmaceuticals (0.2%)
75		Elan Finance PLC, Global Company Guaranteed Notes (Callable 12/01/10 @ $104.44) (Ireland)	(B, B3)	12/01/13	8.875	74,063

Printing & Publishing (0.2%)
75		Quebecor World, Inc., Rule 144A, Senior Notes (Callable 01/15/11 @ $104.88) (Canada)‡	(B, B3)	01/15/15	9.750	72,188

Support-Services (0.8%)
75		Ashtead Holdings PLC, Rule 144A, Secured Notes (Callable 08/01/10 @ $104.31) (United Kingdom)‡	(B, B1)	08/01/15	8.625	73,312
150		Carlson Wagonlit BV, Rule 144A, Senior Notes (Callable 11/01/07 @ $104.00) (Netherlands)#‡	(B-, B2)	05/01/15	10.002	221,322
						294,634
Telecom - Integrated/Services (2.9%)
150		BCM Ireland Finance, Rule 144A, Company Guaranteed Notes (Callable 08/15/08 @ $101.00) (Ireland)‡#	(B-, B3)	08/15/16	9.506	214,922
175		Global Crossing UK Finance, Global Company Guaranteed Notes (Callable 12/15/09 @ $105.38) (United Kingdom)	(B-, B3)	12/15/14	10.750	184,187
100		Hellas II, Rule 144A, Subordinated Notes (Callable 01/15/08 @ $102.00) (Luxembourg)‡#	(CCC+, Caa1)	01/15/15	11.110	97,250
25		Intelsat Bermuda, Ltd., Global Senior Unsecured Notes (Bermuda)	(B-, Caa1)	11/01/13	6.500	19,125
375		Intelsat, Ltd., Global Senior Unsecured Notes (Callable 06/15/11 @ $105.62) (Bermuda)	(B-, Caa1)	06/15/16	11.250	403,594

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

FOREIGN BONDS
Telecom - Integrated/Services
$	100	Nordic Telephone Co. Holdings, Rule 144A, Secured Notes (Callable 05/01/08 @ $101.00) (Denmark)‡#	(B, B2)	05/01/16	9.752	$	146,126
						1,065,204
Telecommunication Equipment (0.1%)
50		Nortel Networks, Ltd., Rule 144A, Company Guaranteed Notes (Canada)‡#	(B-, B3)	07/15/11	9.610	50,250

Textiles & Apparel (0.8%)
200		IT Holding Finance SA, Rule 144A, Company Guaranteed Notes (Luxembourg)‡	(CCC, B3)	11/15/12	9.875	288,696

Transportation - Excluding Air/Rail (0.4%)
150		Ship Finance International, Ltd., Global Company Guaranteed Notes (Callable 12/15/08 @ $104.25) (Bermuda)§	(B+, B1)	12/15/13	8.500	154,875

TOTAL FOREIGN BONDS (Cost $4,478,740)						4,112,279

Number of Shares

COMMON STOCKS (0.3%)
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.*	102,717
TOTAL COMMON STOCKS (Cost $62,936)		107,421

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 INVESTMENTS (31.6%)
10,424,505	State Street Navigator Prime Portfolio§§	10,424,505

Par (000)

1,432	State Street Bank and Trust Co. Euro Time Deposit	10/01/07	3.600	1,432,000
TOTAL SHORT-TERM INVESTMENTS (Cost $11,856,505)				11,856,505

TOTAL INVESTMENTS AT VALUE (123.7%) (Cost $47,863,809)				46,351,150

LIABILITIES IN EXCESS OF OTHER ASSETS (-23.7%)				(8,879,748		)

NET ASSETS (100.0%)				$	37,471,402

OPEN FORWARD FOREIGN CURRENCY CONTRACTS

Forward Foreign Currency Contract	Expiration Date	Foreign Currency To be Sold			Contract Amount			Contract Value			Unrealized Loss

Euro	01/09/2008	€	(1,075,000	)	$	(1,521,243	)	$	(1,531,377	)	$	(10,134	)
British Pound	01/09/2008	£	(150,000	)	(301,492		)	(304,895		)	(3,403		)
					$	(1,822,735	)	$	(1,836,272	)	$	(13,537	)

CREDIT DEFAULT SWAP CONTRACTS

Currency	Notional Amount		Expiration Date	Counterparty	Receive (Pay)	Annual Rate		Protection Bought/Sold	Unrealized Appreciation / (Depreciation)
USD	550,000		6/20/12	Lehman Brothers	Receive	0.00	%	Bought	$	—
USD	(550,000	)	6/20/12	Lehman Brothers	Pay	2.75	%	Bought	$	(15,483	)

INVESTMENT ABBREVIATION

NR=Not Rated

MTNK — Medium Term Note, Series K

†		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 September 30, 2007, these securities amounted to a value of $6,944,129 or 18.5% of net assets.
+		Step Bond — The interest rate stated is as of September 30, 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 September 30, 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 price 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 September 30, 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 $47,863,809, $745,833, $(2,258,492) and $(1,512,659), 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:	November 26, 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:	November 26, 2007

/s/Michael A. Pignataro
Name:	Michael A. Pignataro
Title:	Chief Financial Officer
Date:	November 26, 2007

EX-99.CERT 2 a07-27165_21ex99dcert.htm EX-99.CERT

Exhibit 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: November 26, 2007

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

I, Michael A. Pignataro, certify that:

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

(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: November 26, 2007

	/s/Michael A. Pignataro
	Name:	Michael A. Pignataro
	Title:	Chief Financial Officer