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

                                   FORM N-Q

                   CERTIFIED SHAREHOLDER REPORT OF REGISTERED
                        MANAGEMENT INVESTMENT COMPANIES



  Investment Company Act file number 811-09685


                      Pioneer High Yield Fund
               (Exact name of registrant as specified in charter)


                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)


            Terrence J Cullen, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)


Registrant's telephone number, including area code:  (617) 742-7825


Date of fiscal year end:  October 31

Date of reporting period:  July 31, 2013

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5under
the Investment Company Act of 1940 (17 CFR 270.30b-5).  The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.


<PAGE>
ITEM 1. Schedule of Investments.

				Pioneer High Yield Fund
				Schedule of Investments 7/31/13
	Principal Amount ($)	Floating Rate (b) (unaudited)	S&P/Moody's Ratings (unaudited)			Value
				CONVERTIBLE CORPORATE BONDS - 18.2%
				Energy - 2.0%
				Oil & Gas Exploration & Production - 1.4%
	7,531,000		BB-/Ba3	Chesapeake Energy Corp., 2.5%, 5/15/37	$	7,206,226
	4,152,000		BB-/Ba3	Chesapeake Energy Corp., 2.5%, 5/15/37		3,936,615
	12,800,000		NR/NR	Cobalt International Energy, Inc., 2.625%, 12/1/19		14,328,000
	2,825,000		B-/NR	Stone Energy Corp., 1.75%, 3/1/17		2,717,297
					$	28,188,138
				Coal & Consumable Fuels - 0.6%
	1,895,000		B/NR	Alpha Appalachia Holdings, Inc., 3.25%, 8/1/15	$	1,765,903
	11,955,000		B+/NR	Alpha Natural Resources, Inc., 3.75%, 12/15/17		10,625,006
	1,982,000		CCC/NR	James River Coal Co., 10.0%, 6/1/18 (144A)		1,184,245
					$	13,575,154
				Total Energy	$	41,763,292
				Materials - 0.6%
				Diversified Metals & Mining - 0.2%
	3,805,000		NR/NR	RTI International Metals, Inc., 1.625%, 10/15/19	$	3,862,075
				Steel - 0.4%
	4,830,000		BB+/NR	Steel Dynamics, Inc., 5.125%, 6/15/14	$	5,219,419
	2,475,000		BB-/B1	United States Steel Corp., 2.75%, 4/1/19		2,473,453
					$	7,692,872
				Total Materials	$	11,554,947
				Capital Goods - 0.8%
				Electrical Components & Equipment - 0.6%
	10,874,000		B/B2	General Cable Corp., 4.5%, 11/15/29 (Step)	$	12,199,269
				Construction & Farm Machinery & Heavy Trucks - 0.2%
	2,890,000		NR/NR	Greenbrier Companies, Inc., 3.5%, 4/1/18	$	2,964,056
	818,000		B-/NR	Meritor, Inc., 7.875%, 3/1/26 (144A)		1,036,304
					$	4,000,360
				Total Capital Goods	$	16,199,629
				Transportation - 0.5%
				Airlines - 0.2%
	2,575,000		B/B2	United Airlines, Inc., 4.5%, 1/15/15	$	4,924,688
				Marine - 0.3%
	5,993,000		NR/NR	DryShips, Inc., 5.0%, 12/1/14	$	5,640,911
				Total Transportation	$	10,565,599
				Automobiles & Components - 1.6%
				Automobile Manufacturers - 1.6%
	16,482,000		BB+/Baa3	Ford Motor Co., 4.25%, 11/15/16	$	32,108,996
				Total Automobiles & Components	$	32,108,996
				Consumer Durables & Apparel - 0.8%
				Homebuilding - 0.8%
	11,400,000		B/B2	KB Home, 1.375%, 2/1/19	$	11,592,375
	3,015,000		BB-/Ba3	Lennar Corp., 2.75%, 12/15/20 (144A)		4,914,450
					$	16,506,825
				Total Consumer Durables & Apparel	$	16,506,825
				Consumer Services - 0.1%
				Specialized Consumer Services - 0.1%
	2,710,000		NR/NR	Ascent Capital Group, Inc., 4.0%, 7/15/20	$	2,772,669
				Total Consumer Services	$	2,772,669
				Retailing - 0.3%
				Internet Retail - 0.3%
	5,270,000		NR/NR	Shutterfly, Inc., 0.25%, 5/15/18 (144A)	$	5,694,894
				Total Retailing	$	5,694,894
				Food, Beverage & Tobacco - 0.4%
				Tobacco - 0.4%
	8,065,000		CCC+/Caa2	Alliance One International, Inc., 5.5%, 7/15/14	$	8,301,909
				Total Food, Beverage & Tobacco	$	8,301,909
				Health Care Equipment & Services - 1.0%
				Health Care Equipment - 0.3%
	2,505,000		B+/NR	Hologic, Inc., 2.0%, 12/15/37 (Step)	$	2,948,072
	3,450,000		B+/NR	Hologic, Inc., 2.0%, 3/1/42 (Step)		3,678,562
					$	6,626,634
				Health Care Supplies - 0.5%
	9,460,000		CCC+/NR	Alere, Inc., 3.0%, 5/15/16	$	9,950,738
				Managed Health Care - 0.2%
	4,225,000		NR/NR	Molina Healthcare, Inc., 1.125%, 1/15/20 (144A)	$	4,629,016
				Total Health Care Equipment & Services	$	21,206,388
				Pharmaceuticals, Biotechnology & Life Sciences - 3.8%
				Biotechnology - 2.8%
	8,815,000		NR/NR	Corsicanto, Ltd., 3.5%, 1/15/32	$	8,952,734
	9,876,000		NR/NR	Cubist Pharmaceuticals, Inc., 2.5%, 11/1/17		21,751,890
	9,000,000		NR/NR	PDL BioPharma, Inc., 3.75%, 5/1/15		11,615,625
	9,215,000		NR/NR	Theravance, Inc., 2.125%, 1/15/23		14,237,175
					$	56,557,424
				Pharmaceuticals - 1.0%
	9,520,000		NR/NR	Auxilium Pharmaceuticals, Inc., 1.5%, 7/15/18	$	9,633,050
	2,370,000		NR/NR	Pacira Pharmaceuticals, Inc. Delaware, 3.25%, 2/1/19 (144A)		3,716,456
	5,270,000		NR/NR	Salix Pharmaceuticals, Ltd., 1.5%, 3/15/19		6,735,719
					$	20,085,225
				Total Pharmaceuticals, Biotechnology & Life Sciences	$	76,642,649
				Diversified Financials - 0.5%
				Consumer Finance - 0.5%
	4,150,000		NR/NR	DFC Global Corp., 2.875%, 6/30/27	$	4,137,031
	5,200,000		B+/NR	DFC Global Corp., 3.25%, 4/15/17 (144A)		5,365,750
					$	9,502,781
				Total Diversified Financials	$	9,502,781
				Real Estate - 0.6%
				Specialized REIT's - 0.3%
	4,785,000		BBB-/NR	Host Hotels & Resorts LP, 2.5%, 10/15/29 (144A)	$	6,785,728
				Real Estate Operating Companies - 0.3%
	4,885,000		NR/NR	Forest City Enterprises, Inc., 3.625%, 8/15/20 (144A)	$	4,823,938
				Total Real Estate	$	11,609,666
				Software & Services - 2.0%
				Internet Software & Services - 0.5%
	3,050,000		NR/NR	WebMD Health Corp., 2.25%, 3/31/16	$	2,992,812
	6,420,000		NR/NR	WebMD Health Corp., 2.5%, 1/31/18		6,243,450
					$	9,236,262
				Application Software - 1.5%
	5,815,000		NR/NR	Mentor Graphics Corp., 4.0%, 4/1/31	$	7,170,622
	19,972,000		BB-/NR	Nuance Communications, Inc., 2.75%, 11/1/31		20,346,475
	3,900,000		NR/NR	TIBCO Software, Inc., 2.25%, 5/1/32		3,934,125
					$	31,451,222
				Total Software & Services	$	40,687,484
				Technology Hardware & Equipment - 0.2%
				Electronic Components - 0.2%
	3,755,000		BB+/NR	Vishay Intertechnology, Inc., 2.25%, 5/15/41 (144A)	$	3,428,784
				Total Technology Hardware & Equipment	$	3,428,784
				Semiconductors & Semiconductor Equipment - 2.6%
				Semiconductor Equipment - 1.3%
	5,491,000		BBB-/Baa1	Lam Research Corp., 1.25%, 5/15/18	$	6,390,151
	12,760,000		BBB-/NR	Novellus Systems, Inc., 2.625%, 5/15/41		19,722,175
					$	26,112,326
				Semiconductors - 1.3%
	16,914,000		BB+/NR	ON Semiconductor Corp., 2.625%, 12/15/26	$	19,472,242
	3,200,000		NR/NR	SunPower Corp., 0.75%, 6/1/18 (144A)		3,935,072
	1,265,000		NR/NR	SunPower Corp., 4.5%, 3/15/15		1,743,328
	813,000		BBB-/NR	Xilinx, Inc., 3.125%, 3/15/37		1,305,881
					$	26,456,523
				Total Semiconductors & Semiconductor Equipment	$	52,568,849
				Telecommunication Services - 0.4%
				Integrated Telecommunication Services - 0.4%
	9,000,000		B/NR	Ciena Corp., 0.875%, 6/15/17	$	8,718,750
				Total Telecommunication Services	$	8,718,750
				TOTAL CONVERTIBLE CORPORATE BONDS
				(Cost $303,495,337)	$	369,834,111
				PREFERRED STOCKS - 1.6%
				Energy - 0.2%
				Oil & Gas Storage & Transportation - 0.2%
	130,000	7.62	B+/Ba2	NuStar Logistics LP, Floating Rate Note, 1/15/43	$	3,429,400
				Total Energy	$	3,429,400
				Transportation - 0.2%
				Air Freight & Logistics - 0.2%
	4,940			CEVA Group Plc *	$	4,446,045
				Total Transportation	$	4,446,045
				Diversified Financials - 0.8%
				Other Diversified Financial Services - 0.5%
	358,975	8.12	CCC+/B3	GMAC Capital Trust I, Floating Rate Note, 2/15/40	$	9,530,786
				Consumer Finance - 0.3%
	6,450		CCC+/B3	Ally Financial, Inc., 7.0% (Perpetual) (144A)	$	6,389,531
				Total Diversified Financials	$	15,920,317
				Insurance - 0.2%
				Reinsurance - 0.2%
	4,500,000	0.00	NR/NR	Altair Re, Floating Rate Note, 4/30/16 (Cat Bond)	$	4,611,150
				Total Insurance	$	4,611,150
				Utilities - 0.2%
				Electric Utilities - 0.2%
	214,000		BB+/Ba1	PPL Capital Funding, Inc., 5.9%, 4/30/73	$	4,919,860
				Total Utilities	$	4,919,860
				TOTAL PREFERRED STOCKS
				(Cost $32,967,616)	$	33,326,772
				CONVERTIBLE PREFERRED STOCKS - 3.1%
				Energy - 0.5%
				Oil & Gas Exploration & Production - 0.5%
	59,180		NR/NR	PetroQuest Energy, Inc., 6.875% (Perpetual)	$	1,982,530
	33,162		CCC/NR	SandRidge Energy, Inc., 7.0% (Perpetual)		3,131,736
	46,800		NR/NR	SandRidge Energy, Inc., 8.5% (Perpetual)		4,586,400
					$	9,700,666
				Total Energy	$	9,700,666
				Capital Goods - 0.5%
				Electrical Components & Equipment - 0.5%
	68,400		NR/NR	General Cable Corp., 5.75%, 11/24/13	$	10,792,234
				Total Capital Goods	$	10,792,234
				Automobiles & Components - 0.2%
				Tires & Rubber - 0.2%
	56,100		NR/NR	The Goodyear Tire & Rubber Co., 5.875%, 4/1/14	$	3,117,477
				Total Automobiles & Components	$	3,117,477
				Consumer Durables & Apparel - 0.6%
				Home Furnishings - 0.6%
	143,000			Sealy Corp., 8.0%, 7/15/16 (PIK)	$	11,332,750
				Total Consumer Durables & Apparel	$	11,332,750
				Health Care Equipment & Services - 1.2%
				Health Care Supplies - 1.2%
	89,308		CCC/NR	Alere, Inc., 3.0%, 12/31/99 (Perpetual)	$	24,739,209
				Total Health Care Equipment & Services	$	24,739,209
				Diversified Financials - 0.1%
				Asset Management & Custody Banks - 0.1%
	48,000		BB+/NR	AMG Capital Trust II, 5.15%, 10/15/37	$	2,830,296
				Total Diversified Financials	$	2,830,296
				TOTAL CONVERTIBLE PREFERRED STOCKS
				(Cost $52,275,166)	$	62,512,632
	Shares
				COMMON STOCKS - 11.1%
				Energy - 0.6%
				Oil & Gas Drilling - 0.1%
	127,237			Hercules Offshore, Inc. *	$	877,935
	14,966			Transocean, Ltd.		705,797
					$	1,583,732
				Oil & Gas Exploration & Production - 0.2%
	147,800			Marathon Oil Corp.	$	5,374,008
				Oil & Gas Refining & Marketing - 0.3%
	73,900			Marathon Petroleum Corp. *	$	5,419,087
				Total Energy	$	12,376,827
				Materials - 1.9%
				Commodity Chemicals - 1.1%
	186,606			Axiall Corp.	$	8,225,592
	211,019			LyondellBasell Industries NV		14,499,115
					$	22,724,707
				Diversified Metals & Mining - 0.8%
	4,128,459			Blaze Recycling & Metals LLC * (c)	$	454,130
	483,460			Freeport-McMoRan Copper & Gold, Inc.		13,672,249
	2,600,200			Polymet Mining Corp. *		1,976,152
					$	16,102,531
				Total Materials	$	38,827,238
				Capital Goods - 2.5%
				Aerospace & Defense - 0.8%
	54,757			B/E Aerospace, Inc. *	$	3,817,110
	18,531			DigitalGlobe, Inc. *		600,404
	151,275			Exelis, Inc.		2,235,844
	484,200			Orbital Sciences Corp. *		8,977,068
					$	15,630,426
				Electrical Components & Equipment - 0.5%
	321,400			General Cable Corp.	$	10,130,528
				Construction & Farm Machinery & Heavy Trucks - 0.4%
	565,602			Commercial Vehicle Group, Inc. *	$	4,094,958
	109,200			Joy Global, Inc.		5,405,400
					$	9,500,358
				Industrial Machinery - 0.8%
	107,922			ESCO Technologies, Inc.	$	3,737,339
	75,637			ITT Corp.		2,362,900
	144,669			Kennametal, Inc.		6,269,954
	151,275			Xylem, Inc.		3,771,286
					$	16,141,479
				Total Capital Goods	$	51,402,791
				Transportation - 0.4%
				Air Freight & Logistics - 0.1%
	2,282			CEVA Group Plc *	$	1,597,442
				Marine - 0.3%
	4,099,666			Horizon Lines, Inc. *	$	5,452,556
				Total Transportation	$	7,049,998
				Consumer Services - 0.4%
				Restaurants - 0.4%
	115,807			Starbucks Corp.	$	8,250,091
				Total Consumer Services	$	8,250,091
				Health Care Equipment & Services - 0.7%
				Health Care Supplies - 0.1%
	70,500			Alere, Inc. *	$	2,354,700
				Managed Health Care - 0.6%
	113,880			Aetna, Inc.	$	7,307,680
	67,800			Cigna Corp.		5,276,874
					$	12,584,554
				Total Health Care Equipment & Services	$	14,939,254
				Pharmaceuticals, Biotechnology & Life Sciences - 1.5%
				Life Sciences Tools & Services - 1.5%
	58,117			Bio-Rad Laboratories, Inc. *	$	7,089,693
	200,827			Thermo Fisher Scientific, Inc.		18,297,348
	43,892			Waters Corp. *		4,430,458
					$	29,817,499
				Total Pharmaceuticals, Biotechnology & Life Sciences	$	29,817,499
				Diversified Financials - 0.3%
				Other Diversified Financial Services - 0.2%
	33,500			Lorenz Re *	$	3,470,600
				Asset Management & Custody Banks - 0.1%
	73,836			Legg Mason, Inc.	$	2,539,220
				Total Diversified Financials	$	6,009,820
				Real Estate - 0.7%
				Real Estate Operating Companies - 0.7%
	806,999			Forest City Enterprises, Inc. *	$	14,138,622
				Total Real Estate	$	14,138,622
				Technology Hardware & Equipment - 1.8%
				Computer Storage & Peripherals - 0.2%
	103,800			EMC Corp.	$	2,714,370
	766,603			OCZ Technology Group, Inc. *		1,379,885
					$	4,094,255
				Electronic Equipment Manufacturers - 0.5%
	257,584			Itron, Inc. *	$	11,107,022
				Electronic Manufacturing Services - 0.4%
	141,905			TE Connectivity, Ltd.	$	7,242,831
				Technology Distributors - 0.7%
	119,143			Arrow Electronics, Inc. *	$	5,438,878
	393,200			Ingram Micro, Inc. *		8,976,756
					$	14,415,634
				Total Technology Hardware & Equipment	$	36,859,742
				Telecommunication Services - 0.3%
				Integrated Telecommunication Services - 0.3%
	585,800			Windstream Corp.	$	4,891,430
				Total Telecommunication Services	$	4,891,430
				TOTAL COMMON STOCKS
				(Cost $177,704,149)	$	224,563,312
	Principal Amount ($)
				ASSET BACKED SECURITIES - 0.2%
				Consumer Services - 0.0%†
				Hotels, Resorts & Cruise Lines - 0.0%†
	638,445		NR/NR	Westgate Resorts 2012-A LLC, 3.75%, 8/20/25 (144A)	$	628,270
				Total Consumer Services	$	628,270
				Banks - 0.2%
				Thrifts & Mortgage Finance - 0.2%
	1,000,000		NR/NR	Bayview Opportunity Master Fund Trust 2013-3RPL, 4.0%, 4/28/18 (Step) (144A)	$	974,030
	1,560,000		CCC/C	Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step)		1,397,693
	500,000		B/NR	Nationstar Mortgage Advance Receivable Trust, 4.949%, 6/20/44 (144A)		499,219
					$	2,870,942
				Total Banks	$	2,870,942
				TOTAL ASSET BACKED SECURITIES
				(Cost $3,540,380)	$	3,499,212
				COLLATERALIZED MORTGAGE OBLIGATIONS - 0.2%
				Banks - 0.2%
				Thrifts & Mortgage Finance - 0.2%
	1,900,000		NR/NR	Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A)	$	1,917,708
	1,000,000	5.64	BB+/Ba2	GS Mortgage Securities Corp. II Commercial Mortgage Pass Through Certificates Series 2004-GG2, Floating Rate Note, 8/10/38		981,747
	1,399,083		NR/NR	Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A)		1,350,115
	400,000	5.58	BB/NR	Springleaf Mortgage Loan Trust, Floating Rate Note, 6/25/58 (144A)		401,701
					$	4,651,271
				Total Banks	$	4,651,271
				TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
				(Cost $4,749,267)	$	4,651,271
				CORPORATE BONDS - 55.0%
				Energy - 13.9%
				Oil & Gas Drilling - 1.4%
	4,000,000		B-/B3	Offshore Group Investment, Ltd., 7.125%, 4/1/23 (144A)	$	4,010,000
	3,450,000		B+/B1	Pacific Drilling SA, 5.375%, 6/1/20 (144A)		3,381,000
	2,995,000		B+/B1	Parker Drilling Co., 7.5%, 8/1/20 (144A)		2,995,000
	6,400,000		B+/B2	Pioneer Energy Services Corp., 9.875%, 3/15/18		6,928,000
	6,910,000		B/B1	Shelf Drilling Holdings, Ltd., 8.625%, 11/1/18 (144A)		7,359,150
	3,425,000		BB-/B1	Unit Corp., 6.625%, 5/15/21		3,562,000
					$	28,235,150
				Oil & Gas Equipment & Services - 1.3%
	9,355,000		B+/B2	Basic Energy Services, Inc., 7.75%, 10/15/22	$	9,284,838
	4,245,000		BB-/Ba3	Bristow Group, Inc., 6.25%, 10/15/22		4,414,800
	1,725,000		BB/Ba3	Exterran Holdings, Inc., 7.25%, 12/1/18		1,830,656
	2,750,000		B-/B2	Exterran Partners LP, 6.0%, 4/1/21 (144A)		2,791,250
	54,000		NR/NR	Green Field Energy Services, Inc., 13.25%, 11/15/16 (144A)		55,080
	2,275,000		CCC/Caa2	Green Field Energy Services, Inc., 13.25%, 11/15/16 (144A)		2,320,500
	2,555,000		BB-/B1	Key Energy Services, Inc., 6.75%, 3/1/21		2,503,900
	2,955,000		B/B3	Seitel, Inc., 9.5%, 4/15/19 (144A)		2,991,938
					$	26,192,962
				Oil & Gas Exploration & Production - 9.8%
	3,360,000		B+/B2	Antero Resources Finance Corp., 6.0%, 12/1/20	$	3,376,800
	2,150,000		B-/B3	Carrizo Oil & Gas, Inc., 7.5%, 9/15/20		2,246,750
	10,736,000		B-/B3	Carrizo Oil & Gas, Inc., 8.625%, 10/15/18		11,729,080
	3,310,000		B-/B3	Chaparral Energy, Inc., 8.25%, 9/1/21		3,500,325
	8,435,000		BB-/Ba3	Chesapeake Energy Corp., 5.375%, 6/15/21		8,413,912
	3,110,000		BB+/Ba1	Cimarex Energy Co., 5.875%, 5/1/22		3,218,850
	3,332,000		B-/B3	Comstock Resources, Inc., 7.75%, 4/1/19		3,431,960
	3,675,000		BB+/Ba3	Concho Resources, Inc., 5.5%, 4/1/23		3,665,812
	2,925,000		BB+/Ba3	Concho Resources, Inc., 6.5%, 1/15/22		3,129,750
	5,520,000		BB/B1	Denbury Resources, Inc., 4.625%, 7/15/23		5,050,800
	13,000,000		B/B2	EP Energy LLC, 9.375%, 5/1/20		14,755,000
	2,210,939		B/B3	EPE Holdings LLC, 8.125%, 12/15/17 (144A) (PIK)		2,266,212
	5,205,000		B-/Caa1	EPL Oil & Gas, Inc., 8.25%, 2/15/18		5,491,275
	2,775,000		CCC/Caa1	Goodrich Petroleum Corp., 8.875%, 3/15/19		2,844,375
	7,615,000		CCC+/B3	Gulfport Energy Corp., 7.75%, 11/1/20 (144A)		7,957,675
	7,255,000		CCC+/Caa1	Halcon Resources Corp., 8.875%, 5/15/21		7,327,550
	1,400,000		B/B3	Kodiak Oil & Gas Corp., 5.5%, 1/15/21 (144A)		1,410,500
	3,000,000		B/B3	Kodiak Oil & Gas Corp., 5.5%, 2/1/22 (144A)		2,992,500
	5,200,000		B/B3	Kodiak Oil & Gas Corp., 8.125%, 12/1/19		5,707,000
	3,350,000		B-/Caa1	Legacy Reserves LP, 6.625%, 12/1/21 (144A)		3,224,375
	3,020,000		CCC+/Caa1	Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A)		2,944,500
	16,935,000		B/B2	Linn Energy LLC, 6.25%, 11/1/19 (144A)		15,918,900
	4,155,000		B-/Caa1	Midstates Petroleum Co, Inc., 10.75%, 10/1/20 (144A)		4,321,200
	2,800,000		B-/Caa1	Midstates Petroleum Co, Inc., 9.25%, 6/1/21 (144A)		2,751,000
	4,125,000		B-/Caa1	Northern Oil and Gas, Inc., 8.0%, 6/1/20		4,238,438
	2,820,000		B/B3	Oasis Petroleum, Inc., 6.5%, 11/1/21		2,989,200
	4,960,000		B-/B3	PDC Energy, Inc., 7.75%, 10/15/22 (144A)		5,257,600
	5,845,000		B-/Caa1	Penn Virginia Corp., 7.25%, 4/15/19		5,698,875
	4,295,000		B-/Caa1	Penn Virginia Corp., 8.5%, 5/1/20 (144A)		4,337,950
	1,245,000		CCC-/Caa3	Quicksilver Resources, Inc., 7.125%, 4/1/16		1,095,600
	5,000,000		BB/Ba3	Range Resources Corp., 5.0%, 3/15/23		5,000,000
	7,285,000		B-/B3	RKI Exploration & Production LLC, 8.5%, 8/1/21 (144A)		7,394,275
	1,750,000		B-/B3	Samson Investment Co., 10.0%, 2/15/20 (144A)		1,855,000
	3,085,000		BB-/Ba3	SM Energy Co., 6.5%, 11/15/21		3,270,100
	3,945,000		B-/B3	Stone Energy Corp., 7.5%, 11/15/22		4,161,975
	18,820,000		B+/B3	Swift Energy Co., 7.875%, 3/1/22		18,631,800
	3,000,000		CCC+/Caa1	Talos Production LLC, 9.75%, 2/15/18 (144A)		2,925,000
	3,300,000		B/B3	Vanguard Natural Resources LLC, 7.875%, 4/1/20		3,423,750
					$	197,955,664
				Oil & Gas Refining & Marketing - 0.3%
	5,445,000		BB+/Ba2	Tesoro Corp., 5.375%, 10/1/22	$	5,390,550
				Oil & Gas Storage & Transportation - 0.8%
	3,500,000	7.00	BBB-/Baa2	Enterprise Products Operating LLC, Floating Rate Note, 6/1/67	$	3,683,750
	7,380,000		BB+/Ba3	Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 (144A)		7,278,525
	5,985,000		BB/Ba3	Targa Resources Partners LP, 4.25%, 11/15/23 (144A)		5,491,238
					$	16,453,513
				Coal & Consumable Fuels - 0.3%
	795,000		B+/B2	Alpha Natural Resources, Inc., 6.0%, 6/1/19	$	681,712
	4,170,000		CCC/Caa2	James River Coal Co., 7.875%, 4/1/19		1,678,425
	1,900,000		B-/Caa1	Murray Energy Corp., 8.625%, 6/15/21 (144A)		1,928,500
	3,000,000		BB-/B1	SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A)		3,105,000
					$	7,393,637
				Total Energy	$	281,621,476
				Materials - 4.5%
				Commodity Chemicals - 0.5%
	2,756,000		CCC+/B3	Hexion US Finance Corp., 8.875%, 2/1/18	$	2,866,240
	4,445,000		CCC+/NR	Hexion US Finance Corp., 9.0%, 11/15/20		4,500,562
	2,250,000		BB-/B1	Rain CII Carbon LLC, 8.0%, 12/1/18 (144A)		2,328,750
	1,110,000		B-/Caa1	US Coatings Acquisition, Inc., 7.375%, 5/1/21 (144A)		1,150,238
					$	10,845,790
				Specialty Chemicals - 0.3%
	2,725,000		BB-/B1	Chemtura Corp., 5.75%, 7/15/21	$	2,711,375
	3,195,000		BB-/B2	Tronox Finance LLC, 6.375%, 8/15/20 (144A)		3,059,212
					$	5,770,587
				Construction Materials - 0.2%
	3,300,000		B-/Caa2	Texas Industries, Inc., 9.25%, 8/15/20	$	3,592,875
				Metal & Glass Containers - 1.0%
	5,300,000		CCC+/B3	Ardagh Packaging Finance Plc, 7.0%, 11/15/20 (144A)	$	5,220,500
	13,120,000		BB-/Ba3	Crown Cork & Seal Co., Inc., 7.375%, 12/15/26		14,563,200
					$	19,783,700
				Paper Packaging - 0.1%
	2,915,000		B/B3	Packaging Dynamics Corp., 8.75%, 2/1/16 (144A)	$	2,973,300
				Diversified Metals & Mining - 0.4%
	8,775,000		CCC/Caa2	Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A)	$	6,449,625
	1,595,000		B/Caa1	Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A)		1,716,619
					$	8,166,244
				Gold - 0.3%
	6,445,000		BB-/B1	IAMGOLD Corp., 6.75%, 10/1/20 (144A)	$	5,478,250
				Steel - 0.9%
	2,615,000		B+/B3	APERAM, 7.375%, 4/1/16 (144A)	$	2,516,938
	2,800,000		B/Caa1	Atkore International, Inc., 9.875%, 1/1/18		3,038,000
	12,145,000		CCC/Caa2	Essar Steel Algoma, Inc., 9.875%, 6/15/15 (144A)		9,624,912
	3,280,000		B-/B3	JMC Steel Group, Inc., 8.25%, 3/15/18 (144A)		3,263,600
					$	18,443,450
				Forest Products - 0.4%
	7,810,000		B-/B3	Millar Western Forest Products, Ltd., 8.5%, 4/1/21	$	7,770,950
				Paper Products - 0.4%
	2,050,000		NR/Ba2	Clearwater Paper Corp., 4.5%, 2/1/23	$	1,937,250
	7,520,000		BB-/Ba3	Resolute Forest Products, Inc., 5.875%, 5/15/23 (144A)		6,768,000
					$	8,705,250
				Total Materials	$	91,530,396
				Capital Goods - 3.3%
				Aerospace & Defense - 0.5%
	4,350,000		BB/B1	DigitalGlobe, Inc., 5.25%, 2/1/21 (144A)	$	4,110,750
	3,953,000		B-/B2	DynCorp International, Inc., 10.375%, 7/1/17		4,071,590
	2,050,000		CCC+/Caa1	Silver II Borrower, 7.75%, 12/15/20 (144A)		2,147,375
					$	10,329,715
				Building Products - 0.1%
	1,750,000		BB-/B2	Gibraltar Industries, Inc., 6.25%, 2/1/21 (144A)	$	1,793,750
				Construction & Engineering - 0.4%
	3,000,000		BB-/Ba3	Dycom Investments, Inc., 7.125%, 1/15/21	$	3,172,500
	7,350,000		CC/Caa3	New Enterprise Stone & Lime Co., Inc., 11.0%, 9/1/18		4,483,500
					$	7,656,000
				Electrical Components & Equipment - 0.1%
	2,079,000		B/B3	Coleman Cable, Inc., 9.0%, 2/15/18	$	2,203,740
				Industrial Conglomerates - 0.4%
	4,030,000		B+/B2	JB Poindexter & Co., Inc., 9.0%, 4/1/22 (144A)	$	4,211,350
	4,025,000		CCC+/B3	Park-Ohio Industries, Inc., 8.125%, 4/1/21		4,367,125
					$	8,578,475
				Construction & Farm Machinery & Heavy Trucks - 0.5%
	3,240,000		B-/B3	Meritor, Inc., 6.75%, 6/15/21	$	3,223,800
	6,850,000		CCC/B3	Navistar International Corp., 8.25%, 11/1/21		7,004,125
					$	10,227,925
				Industrial Machinery - 0.8%
	2,750,000		B-/B3	BC Mountain LLC, 7.0%, 2/1/21 (144A)	$	2,860,000
	2,400,000		B-/Caa2	Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A)		2,424,000
	7,076,000		B/Caa2	Mueller Water Products, Inc., 7.375%, 6/1/17		7,261,745
	2,660,000		B/B3	Xerium Technologies, Inc., 8.875%, 6/15/18		2,673,300
					$	15,219,045
				Trading Companies & Distributors - 0.5%
	1,400,000		BB+/Ba3	Aircastle, Ltd., 7.625%, 4/15/20	$	1,564,500
	1,725,000		BB+/NR	Aviation Capital Group Corp., 6.75%, 4/6/21 (144A)		1,844,972
	7,200,000		BB/Ba3	Rexel SA, 5.25%, 6/15/20 (144A)		7,164,000
					$	10,573,472
				Total Capital Goods	$	66,582,122
				Commercial Services & Supplies - 0.3%
				Diversified Support Services - 0.3%
	5,855,000		B-/Caa1	ADS Tactical, Inc., 11.0%, 4/1/18 (144A)	$	5,562,250
				Total Commercial Services & Supplies	$	5,562,250
				Transportation - 0.6%
				Air Freight & Logistics - 0.2%
	3,205,000		CCC-/Caa2	CEVA Group Plc, 11.625%, 10/1/16 (144A)	$	3,293,138
				Airlines - 0.1%
	2,100,000		BBB-/NR	American Airlines 2013-2 Class A Pass Through Trust, 4.95%, 1/15/23 (144A)	$	2,110,500
				Trucking - 0.2%
	4,540,000		B/B3	Syncreon Global Ireland, Ltd., 9.5%, 5/1/18 (144A)	$	4,857,800
				Airport Services - 0.1%
	1,700,000		B/NR	Aguila 3 SA, 7.875%, 1/31/18 (144A)	$	1,751,102
				Total Transportation	$	12,012,540
				Automobiles & Components - 1.2%
				Auto Parts & Equipment - 0.5%
	4,650,000		BB/B2	Dana Holding Corp., 6.0%, 9/15/23	$	4,661,625
	2,140,000		B+/B3	Pittsburgh Glass Works LLC, 8.5%, 4/15/16 (144A)		2,220,250
	2,690,000		B-/B2	Schaeffler Holding Finance BV, 6.875%, 8/15/18 (144A) (PIK)		2,743,800
					$	9,625,675
				Tires & Rubber - 0.1%
	2,765,000		B+/B1	The Goodyear Tire & Rubber Co., 7.0%, 5/15/22	$	2,937,812
				Automobile Manufacturers - 0.6%
	3,000,000		B/B1	Chrysler Group LLC, 8.0%, 6/15/19	$	3,273,750
	7,905,000		B/B1	Chrysler Group LLC, 8.25%, 6/15/21		8,794,312
					$	12,068,062
				Total Automobiles & Components	$	24,631,549
				Consumer Durables & Apparel - 3.8%
				Homebuilding - 1.6%
	11,595,000		CCC/Caa2	Beazer Homes USA, Inc., 9.125%, 6/15/18	$	12,348,675
	2,100,000		BB-/B2	Brookfield Residential Properties, Inc., 6.5%, 12/15/20 (144A)		2,199,750
	5,045,000		BB/Ba2	DR Horton, Inc., 5.75%, 8/15/23		5,045,000
	8,730,000		BB-/Ba3	Lennar Corp., 5.0%, 11/15/22 (144A)		8,380,800
	3,660,000		B+/B1	Meritage Homes Corp., 7.0%, 4/1/22		3,989,400
					$	31,963,625
				Housewares & Specialties - 2.1%
	6,700,000		CCC+/Caa2	Reynolds Group Issuer, Inc., 8.25%, 2/15/21	$	6,817,250
	7,495,000		CCC+/Caa2	Reynolds Group Issuer, Inc., 8.5%, 5/15/18		7,794,800
	800,000		CCC+/Caa2	Reynolds Group Issuer, Inc., 9.0%, 4/15/19		832,000
	5,675,000		CCC+/Caa2	Reynolds Group Issuer, Inc., 9.875%, 8/15/19		6,129,000
	13,375,000		CCC+/B3	Yankee Candle Co., Inc., 9.75%, 2/15/17		13,859,978
	6,815,000		CCC+/Caa1	YCC Holdings LLC, 10.25%, 2/15/16 (PIK)		7,002,412
					$	42,435,440
				Leisure Products - 0.1%
	3,230,000		CCC+/Caa2	PC Nextco Holdings LLC, 8.75%, 8/15/19 (144A) (PIK)	$	3,213,850
				Total Consumer Durables & Apparel	$	77,612,915
				Consumer Services - 1.0%
				Casinos & Gaming - 0.4%
	14,687,403		NR/NR	Mashantucket Western Pequot Tribe, 6.5%, 7/1/36	$	2,092,955
	3,000,000		B+/B3	MGM Resorts International, 6.75%, 10/1/20		3,191,250
	3,218,000		B+/B2	Scientific Games International, Inc., 9.25%, 6/15/19		3,499,575
					$	8,783,780
				Hotels, Resorts & Cruise Lines - 0.2%
	4,290,000		B+/B3	Viking Cruises, Ltd., 8.5%, 10/15/22 (144A)	$	4,729,725
				Restaurants - 0.2%
	4,090,000		B-/Caa1	Burger King Capital Holdings LLC, 0.0%, 4/15/19 (Step) (144A) (d)	$	3,553,188
				Education Services - 0.2%
	3,695,000		CCC-/Caa1	Cambium Learning Group, Inc., 9.75%, 2/15/17	$	3,380,925
				Total Consumer Services	$	20,447,618
				Media - 2.6%
				Advertising - 0.2%
	3,555,000		B-/B3	MDC Partners, Inc., 6.75%, 4/1/20 (144A)	$	3,643,875
				Broadcasting - 1.6%
	9,250,000		BB-/B1	CCO Holdings LLC, 6.5%, 4/30/21	$	9,504,375
	3,900,000		CCC+/Caa2	Intelsat Luxembourg SA, 7.75%, 6/1/21 (144A)		4,104,750
	8,875,000		B+/B2	Quebecor Media, Inc., 5.75%, 1/15/23		8,675,312
	9,280,000		B+/B2	Univision Communications, Inc., 6.875%, 5/15/19 (144A)		9,906,400
					$	32,190,837
				Cable & Satellite - 0.2%
	5,365,000		BB/B1	Sirius XM Radio, Inc., 5.75%, 8/1/21 (144A)	$	5,365,000
				Movies & Entertainment - 0.5%
	5,300,000		B/B3	Live Nation Entertainment, Inc., 7.0%, 9/1/20 (144A)	$	5,618,000
	4,895,000		B-/B3	Regal Entertainment Group, 5.75%, 2/1/25		4,699,200
					$	10,317,200
				Publishing - 0.1%
	1,675,000		B-/B3	MPL 2 Acquisition Canco, Inc., 9.875%, 8/15/18 (144A)	$	1,716,875
				Total Media	$	53,233,787
				Retailing - 0.4%
				Distributors - 0.1%
	1,300,000		BB-/Ba3	LKQ Corp., 4.75%, 5/15/23 (144A)	$	1,246,375
				Apparel Retail - 0.2%
	3,850,000		B/B3	Brown Shoe Co., Inc., 7.125%, 5/15/19	$	4,081,000
				Automotive Retail - 0.1%
	3,015,000		BB-/Ba3	CST Brands, Inc., 5.0%, 5/1/23 (144A)	$	2,977,312
				Total Retailing	$	8,304,687
				Food & Staples Retailing - 0.2%
				Food Distributors - 0.2%
	4,085,000		B/B3	KeHE Distributors LLC, 7.625%, 8/15/21 (144A)	$	4,151,381
				Total Food & Staples Retailing	$	4,151,381
				Food, Beverage & Tobacco - 1.8%
				Distillers & Vintners - 0.3%
	4,100,000		BB+/Ba1	Constellation Brands, Inc., 3.75%, 5/1/21	$	3,833,500
	3,235,000		BB+/Ba1	Constellation Brands, Inc., 4.25%, 5/1/23		3,048,988
					$	6,882,488
				Packaged Foods & Meats - 0.3%
	2,925,000		B+/B1	B&G Foods, Inc., 4.625%, 6/1/21	$	2,826,281
	1,460,000		BB-/B2	Sun Merger Sub, Inc., 5.25%, 8/1/18 (144A)		1,463,650
	1,460,000		BB-/B2	Sun Merger Sub, Inc., 5.875%, 8/1/21 (144A)		1,463,650
					$	5,753,581
				Tobacco - 1.2%
	12,555,000		B-/B3	Alliance One International, Inc., 10.0%, 7/15/16	$	13,182,750
	10,105,000		B-/Caa1	Alliance One International, Inc., 9.875%, 7/15/21 (144A)		9,953,425
					$	23,136,175
				Total Food, Beverage & Tobacco	$	35,772,244
				Household & Personal Products - 0.3%
				Personal Products - 0.3%
	2,400,000		CCC+/Caa1	Monitronics International, Inc., 9.125%, 4/1/20	$	2,490,000
	3,495,000		B/B1	Revlon Consumer Products Corp., 5.75%, 2/15/21 (144A)		3,525,581
					$	6,015,581
				Total Household & Personal Products	$	6,015,581
				Health Care Equipment & Services - 2.6%
				Health Care Equipment - 0.2%
	3,875,000		CCC+/Caa2	Accellent, Inc., 10.0%, 11/1/17	$	3,603,750
				Health Care Services - 0.4%
	3,429,000		CCC+/Caa2	Gentiva Health Services, Inc., 11.5%, 9/1/18	$	3,566,160
	4,435,000		CCC+/Caa1	Surgical Care Affiliates, Inc., 10.0%, 7/15/17 (144A)		4,579,138
					$	8,145,298
				Health Care Facilities - 1.7%
	3,175,000		BB/Ba3	Aviv Healthcare Properties LP, 7.75%, 2/15/19	$	3,413,125
	16,800,000		B/B3	CHS, 8.0%, 11/15/19		17,745,000
	5,700,000		B-/B3	Kindred Healthcare, Inc., 8.25%, 6/1/19		5,999,250
	3,850,000		B+/Ba3	Tenet Healthcare Corp., 4.375%, 10/1/21 (144A)		3,542,000
	4,000,000		B-/B3	Vanguard Health Holding Co. II LLC, 7.75%, 2/1/19		4,295,000
					$	34,994,375
				Health Care Technology - 0.3%
	3,315,000		CCC+/Caa1	Emdeon, Inc., 11.0%, 12/31/19	$	3,787,388
	1,900,000		B-/B3	MedAssets, Inc., 8.0%, 11/15/18		2,037,750
					$	5,825,138
				Total Health Care Equipment & Services	$	52,568,561
				Pharmaceuticals, Biotechnology & Life Sciences - 0.7%
				Biotechnology - 0.4%
	9,859,000		B/Caa2	Lantheus Medical Imaging, Inc., 9.75%, 5/15/17	$	8,540,359
				Pharmaceuticals - 0.3%
	6,090,000		B/B1	Valeant Pharmaceuticals International, 6.375%, 10/15/20 (144A)	$	6,287,925
				Total Pharmaceuticals, Biotechnology & Life Sciences	$	14,828,284
				Banks - 0.0%†
				Thrifts & Mortgage Finance - 0.0%†
	500,000	8.11	NR/NR	Mythen Re, Ltd. Series 2013-1 Class B, Floating Rate Note, 7/9/15 (Cat Bond) (144A)	$	500,550
				Total Banks	$	500,550
				Diversified Financials - 4.2%
				Other Diversified Financial Services - 2.9%
	1,325,000	5.25	BB-/NR	Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A)	$	1,310,292
	1,500,000	6.85	NR/NR	Caelus Re, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A)		1,496,400
	7,490,000	5.35	BB/B1	Citigroup, Inc., Floating Rate Note (Perpetual)		6,834,625
	1,400,000	10.25	BB-/NR	Compass Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A)		1,435,140
	400,000	9.00	BB/NR	East Lane Re V, Ltd., Floating Rate Note, 3/16/16 (Cat Bond) (144A)		425,200
	500,000	7.35	BB-/NR	Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/13/15 (Cat Bond) (144A)		515,750
	1,200,000	8.35	BB-/NR	Ibis Re II, Ltd., Floating Rate Note, 2/5/15 (Cat Bond) (144A)		1,228,560
	1,500,000	13.50	B-/NR	Ibis Re II, Ltd., Floating Rate Note, 2/5/15 (Cat Bond) (144A)		1,535,250
	4,200,000	5.65	BB/Ba1	ING US, Inc., Floating Rate Note, 5/15/53 (144A)		3,948,000
	5,100,000	7.25	BB/NR	Lodestone Re, Ltd., Floating Rate Note, 1/8/14 (Cat Bond) (144A)		5,069,910
	1,500,000	4.00	BB/NR	Longpoint Re, Ltd. III, Floating Rate Note, 5/18/16 (Cat Bond) (144A)		1,506,750
	12,630,000		B+/B2	National Money Mart Co., 10.375%, 12/15/16		13,419,375
	2,000,000	7.50	BB-/NR	Queen Street IV Capital, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A)		2,039,200
	900,000	8.50	B+/NR	Queen Street V Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A)		922,680
	1,750,000	8.90	NR/NR	Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/15 (Cat Bond) (144A)		1,764,875
	2,000,000	13.25	NR/NR	Residential Reinsurance 2011, Ltd., Floating Rate Note, 12/6/15 (Cat Bond) (144A)		2,080,800
	3,450,000	12.00	B-/NR	Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A)		3,583,170
	2,800,000	8.75	B+/NR	Residential Reinsurance 2011, Ltd., Floating Rate Note, 6/6/15 (Cat Bond) (144A)		2,931,040
	2,300,000		NR/NR	Sector Re V, Ltd., 12/1/17 (Cat Bond)		2,496,420
	3,300,000		NR/NR	Sector Re V, Ltd., 3/1/18 (Cat Bond) (144A)		3,337,620
	1,000,000	8.50	B+/NR	Tar Heel Re, Ltd., Floating Rate Note, 5/9/16 (Cat Bond) (144A)		1,017,200
					$	58,898,257
				Specialized Finance - 0.7%
	4,540,000		B+/B2	Nationstar Mortgage LLC, 6.5%, 6/1/22	$	4,505,950
	3,675,000		B+/B2	Nationstar Mortgage LLC, 6.5%, 7/1/21		3,665,812
	1,820,000		B+/B2	Nationstar Mortgage LLC, 6.5%, 8/1/18		1,838,200
	3,100,000		B/B1	Oxford Finance LLC, 7.25%, 1/15/18 (144A)		3,193,000
	1,600,000	4.00	BB/NR	Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A)		1,577,280
					$	14,780,242
				Consumer Finance - 0.4%
	3,990,000		B+/B1	Jefferies Finance LLC, 7.375%, 4/1/20 (144A)	$	4,029,900
	3,765,000		B+/B3	TMX Finance LLC, 8.5%, 9/15/18 (144A)		3,877,950
					$	7,907,850
				Asset Management & Custody Banks - 0.2%
	4,365,000		NR/Caa1	Renaissance Acquisition Corp., 6.875%, 8/15/21 (144A)	$	4,343,175
				Total Diversified Financials	$	85,929,524
				Insurance - 2.1%
				Insurance Brokers - 0.2%
	4,900,000		CCC/Caa2	Onex USI Acquisition Corp., 7.75%, 1/15/21 (144A)	$	4,924,500
				Life & Health Insurance - 0.3%
	5,400,000		BB-/B1	Fidelity & Guaranty Life Holdings, Inc., 6.375%, 4/1/21 (144A)	$	5,481,000
				Property & Casualty Insurance - 0.1%
	1,500,000	4.37	BB+/NR	Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A)	$	1,501,800
				Reinsurance - 1.5%
	450,000	8.14	BB-/NR	Atlas Reinsurance VII, Ltd., Floating Rate Note, 1/7/16 (Cat Bond) (144A)	$	450,360
	250,000	6.12	BB+/NR	Blue Danube, Ltd., Floating Rate Note, 4/10/15 (Cat Bond) (144A)		257,050
	1,250,000	17.75	NR/NR	Combine Re, Ltd., Floating Rate Note, 1/7/15 (Cat Bond) (144A)		1,392,500
	700,000	10.00	NR/Ba2	Combine Re, Ltd., Floating Rate Note, 1/7/15 (Cat Bond) (144A)		754,670
	1,500,000	5.00	BB+/NR	Foundation Re III, Ltd., Floating Rate Note, 2/25/15 (Cat Bond)		1,515,900
	1,000,000	5.75	BB/NR	Foundation Re III, Ltd., Floating Rate Note, 2/3/14 (Cat Bond) (144A)		992,100
	2,500,000	12.00	B/NR	Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A)		2,626,500
	825,000	8.61	B+/NR	Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A)		834,982
	675,000	11.84	B-/NR	Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A)		648,270
	2,650,000	11.11	NR/B2	Mythen, Ltd., Floating Rate Note, 5/7/15 (Cat Bond) (144A)		2,831,525
	3,650,000		NR/NR	Pangaea Re, 0.0%, 10/1/15 (Cat Bond)(d)		3,762,456
	250,000	10.35	B/NR	Queen Street VI Re, Ltd., Floating Rate Note, 4/9/15 (Cat Bond) (144A)		258,675
	1,450,000	8.60	B/NR	Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A)		1,470,010
	2,100,000	12.75	NR/NR	Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A)		2,222,850
	250,000	5.75	BB/NR	Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A)		257,125
	950,000	19.00	NR/NR	Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A)		992,085
	1,100,000	10.00	BB-/NR	Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A)		1,180,960
	900,000	8.00	BB/NR	Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A)		982,800
	1,750,000	22.00	NR/NR	Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A)		1,890,000
	800,000	0.00	B-/NR	Residential Reinsurance 2013, Ltd., Floating Rate Note, 6/6/17 (Cat Bond) (144A)		794,240
	4,000,000	13.00	NR/NR	Successor X, Ltd. Class IV-AL3, Floating Rate Note, 2/25/14 (Cat Bond) (144A)		3,958,000
	875,000	16.50	NR/NR	Successor X, Ltd., Floating Rate Note, 1/27/15 (Cat Bond) (144A)		898,538
	375,000	11.25	B-/NR	Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A)		381,938
					$	31,353,534
				Total Insurance	$	43,260,834
				Real Estate - 3.0%
				Diversified REIT's - 0.5%
	9,550,000		B/Ba3	CNL Lifestyle Properties, Inc., 7.25%, 4/15/19	$	9,717,125
				Real Estate Operating Companies - 2.5%
	50,885,000		B/B3	Forest City Enterprises, Inc., 6.5%, 2/1/17	$	50,996,952
				Total Real Estate	$	60,714,077
				Software & Services - 1.2%
				Internet Software & Services - 0.3%
	6,085,000		BB/B1	j2 Global, Inc., 8.0%, 8/1/20	$	6,541,375
				Data Processing & Outsourced Services - 0.9%
	6,047,000		B-/Caa1	First Data Corp., 12.625%, 1/15/21	$	6,629,024
	615,000		B+/B1	First Data Corp., 7.375%, 6/15/19 (144A)		645,750
	4,722,000		B-/Caa1	First Data Corp., 8.25%, 1/15/21 (144A)		4,934,490
	5,300,000		BB/Ba3	WEX, Inc., 4.75%, 2/1/23 (144A)		4,982,000
					$	17,191,264
				Total Software & Services	$	23,732,639
				Technology Hardware & Equipment - 1.7%
				Communications Equipment - 0.3%
	6,215,000		BB+/B1	Brocade Communications Systems, Inc., 4.625%, 1/15/23 (144A)	$	5,842,100
				Computer Storage & Peripherals - 0.9%
	5,650,000		BB+/Ba1	Seagate HDD Cayman, 4.75%, 6/1/23 (144A)	$	5,395,750
	12,100,000		BB+/Ba1	Seagate HDD Cayman, 7.0%, 11/1/21		13,158,750
					$	18,554,500
				Electronic Equipment Manufacturers - 0.3%
	5,300,000		BB-/B1	Viasystems, Inc., 7.875%, 5/1/19 (144A)	$	5,671,000
				Electronic Manufacturing Services - 0.2%
	1,380,000		BB+/Ba1	Flextronics International, Ltd., 4.625%, 2/15/20 (144A)	$	1,373,100
	2,295,000		BB+/Ba1	Flextronics International, Ltd., 5.0%, 2/15/23 (144A)		2,260,575
					$	3,633,675
				Total Technology Hardware & Equipment	$	33,701,275
				Telecommunication Services - 3.9%
				Integrated Telecommunication Services - 3.7%
	3,300,000		BB/Ba2	CenturyLink, Inc., 6.45%, 6/15/21	$	3,481,500
	8,085,000		B/B1	Cincinnati Bell, Inc., 8.25%, 10/15/17		8,469,038
	13,358,000		B/B1	Cincinnati Bell, Inc., 8.375%, 10/15/20		14,092,690
	4,750,000		BB-/Ba2	Frontier Communications Corp., 7.125%, 1/15/23		4,702,500
	9,705,000		BB-/Ba2	Frontier Communications Corp., 8.5%, 4/15/20		10,772,550
	3,100,000		BB-/Ba2	Frontier Communications Corp., 8.75%, 4/15/22		3,417,750
	2,840,000		BB-/B1	tw telecom holdings inc, 5.375%, 10/1/22		2,854,200
	5,275,000		B/B1	Windstream Corp., 6.375%, 8/1/23		5,011,250
	12,580,000		B/B1	Windstream Corp., 7.5%, 6/1/22		12,957,400
	8,460,000		B/B1	Windstream Corp., 7.75%, 10/15/20		9,009,900
					$	74,768,778
				Wireless Telecommunication Services - 0.2%
	1,150,000		CCC+/Caa1	Intelsat Jackson Holdings SA, 6.625%, 12/15/22 (144A)	$	1,175,875
	2,300,000		NR/NR	Richland Towers Funding LLC, 7.87%, 3/15/16 (144A)		2,460,802
					$	3,636,677
				Total Telecommunication Services	$	78,405,455
				Utilities - 1.7%
				Electric Utilities - 0.1%
	2,340,000		CCC/Caa3	Texas Competitive Electric Holdings Co. LLC, 11.5%, 10/1/20 (144A)	$	1,755,000
				Gas Utilities - 0.6%
	8,600,000		NR/Ba2	AmeriGas Finance LLC, 7.0%, 5/20/22	$	9,159,000
	2,750,000		B/B2	Ferrellgas LP, 6.5%, 5/1/21		2,777,500
					$	11,936,500
				Independent Power Producers & Energy Traders - 1.0%
	1,500,000	6.65	BB/NR	East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A)	$	1,539,150
	4,700,000		BB-/B1	NRG Energy, Inc., 7.625%, 1/15/18		5,240,500
	4,700,000		BB-/B1	NRG Energy, Inc., 7.875%, 5/15/21		5,170,000
	7,850,000		BB-/B1	NRG Energy, Inc., 8.25%, 9/1/20		8,713,500
					$	20,663,150
				Total Utilities	$	34,354,650
				TOTAL CORPORATE BONDS
				(Cost $1,095,234,507)	$	1,115,474,395
				SENIOR FLOATING RATE LOAN INTERESTS - 8.3% **
				Energy - 0.5%
				Oil & Gas Drilling - 0.1%
	2,344,125	5.75	B-/B3	Offshore Group Investment, Ltd., Term Loan, 3/28/19	$	2,362,878
				Oil & Gas Equipment & Services - 0.4%
	7,538,153	8.50	CCC+/B3	FTS International Services LLC, Term Loan, 5/6/16	$	7,532,771
				Total Energy	$	9,895,649
				Materials - 0.5%
				Diversified Chemicals - 0.2%
	2,094,750	4.75	B+/B1	DuPont Performance Coatings, Inc., Initial Term B Loan, 2/1/20	$	2,117,989
	1,990,253	4.00	NR/B1	Ineos Group Holdings, Ltd., Cash Dollar Term Loan, 5/4/18		1,989,897
					$	4,107,886
				Diversified Metals & Mining - 0.3%
	7,426,900	9.00	B+/B3	Preferred Sands Holding Co. LLC, Term B Loan, 12/15/16 (e)	$	6,368,567
				Total Materials	$	10,476,453
				Capital Goods - 1.1%
				Aerospace & Defense - 0.3%
	1,957,674	6.25	B-/B2	DAE Aviation Holdings, Inc., Tranche B-1 Loan, 10/18/18	$	1,991,933
	887,481	6.25	B/B2	DAE Aviation Holdings, Inc., Tranche B-2 Loan, 10/18/18		903,012
	1,815,731	3.44	B+/B2	Hunter Defense Technologies, Inc., Term Loan, 8/22/14		1,770,338
					$	4,665,283
				Building Products - 0.2%
	4,555,575	5.75	B/B1	CPG International I, Inc., Term Loan, 9/21/19	$	4,574,084
				Industrial Machinery - 0.6%
	12,500,000	0.00	NR/NR	Gardner Denver, Inc., 3/8/14	$	12,500,000
				Total Capital Goods	$	21,739,367
				Commercial Services & Supplies - 0.1%
				Environmental & Facilities Services - 0.0%†
	627,063	4.00	B+/B1	WCA Waste Corp., Term Loan, 3/23/18	$	629,218
				Diversified Support Services - 0.1%
	2,724,097	10.00	NR/NR	IAP Worldwide Services, Inc., Term Loan (First Lien), 12/31/15	$	1,634,458
				Total Commercial Services & Supplies	$	2,263,676
				Transportation - 0.3%
				Air Freight & Logistics - 0.3%
	1,365,849	5.28	CCC+/NR	CEVA Group Plc, Dollar Tranche B Pre-Funded Term Loan, 8/31/16	$	1,292,435
	3,702,650	5.27	NR/NR	CEVA Group Plc, EGL Tranche B Term Loan, 8/31/16		3,526,774
	1,971,385	5.27	CCC+/B2	CEVA Group Plc, US Tranche B Term Loan, 8/31/16		1,875,280
					$	6,694,489
				Total Transportation	$	6,694,489
				Automobiles & Components - 0.5%
				Auto Parts & Equipment - 0.5%
	11,965	3.20	BB-/Ba3	Allison Transmission, Inc., New Term B-2 Loan, 8/7/17	$	12,022
	3,049,258	5.50	NR/NR	TI Group Automotive Systems LLC, Additional Term Loan, 3/27/19		3,091,185
	8,598,450	5.75	B+/B1	Tower Automotive Holdings USA LLC, Initial Term Loan, 4/17/20		8,691,597
					$	11,794,804
				Total Automobiles & Components	$	11,794,804
				Consumer Durables & Apparel - 0.1%
				Housewares & Specialties - 0.1%
	2,026,306	5.25	B+/B1	Yankee Candle Co., Inc., Initial Term Loan, 3/2/19	$	2,046,569
				Total Consumer Durables & Apparel	$	2,046,569
				Media - 0.3%
				Advertising - 0.1%
	2,013,640	6.50	B-/B2	Affinion Group, Inc., Tranche B Term Loan, 10/9/16	$	1,942,603
				Broadcasting - 0.1%
	1,435,419	4.50	B+/B2	Univision Communications, Inc., 2013 Converted Extended First-Lien Term Loan, 2/22/20	$	1,445,176
				Movies & Entertainment - 0.1%
	1,679,517	3.75	NR/Baa3	Cinedigm Digital Funding I LLC, Term Loan, 3/31/16	$	1,685,815
				Publishing - 0.0%†
	928,000	0.00	D/WR	Cengage Learning Acquisitions, Inc., Original Term Loan, 7/4/14 (e)	$	685,560
				Total Media	$	5,759,154
				Retailing - 0.6%
				Automotive Retail - 0.6%
	12,505,985	4.25	BB/Ba1	Chrysler Group LLC, Term Loan B, 5/24/17	$	12,729,267
				Total Retailing	$	12,729,267
				Food & Staples Retailing - 0.1%
				Food Distributors - 0.1%
	1,308,425	5.75	B/B1	AdvancePierre Foods, Term Loan (First Lien), 6/17/17	$	1,325,326
				Total Food & Staples Retailing	$	1,325,326
				Household & Personal Products - 0.3%
				Personal Products - 0.3%
	6,038,709	4.25	B/Ba3	Monitronics International, Inc., Term B Loan, 3/23/18	$	6,101,615
				Total Household & Personal Products	$	6,101,615
				Health Care Equipment & Services - 1.4%
				Health Care Equipment - 0.1%
	2,428,148	4.50	BB-/Ba2	Kinetic Concepts, Inc., Dollar Term D-1 Loan, 5/4/18	$	2,459,260
				Health Care Services - 1.2%
	1,200,000	4.25	B+/Ba3	Alliance HealthCare Services, Inc., Initial Term Loan, 5/31/19	$	1,201,500
	1,327,500	0.00	NR/B2	BioScrip, Inc., 7/22/20		1,342,501
	2,212,500	0.00	B/B2	BioScrip, Inc., 7/22/20		2,237,501
	6,781,871	6.50	B+/B1	Gentiva Health Services, Inc., Term B1 Term Loan, 2/22/16		6,807,303
	5,063,475	6.50	NR/NR	National Mentor Holdings, Inc., Tranche B-1 Term Loan, 2/9/17		5,098,286
	4,135,910	8.75	B/B2	National Surgical Hospitals, Inc., Initial Term Loan, 1/4/17		4,135,910
	1,955,175	6.00	B/B2	Surgery Center Holdings, Inc., Term Loan (First Lien), 4/11/19		1,966,124
	1,486,875	7.75	B+/B1	Virtual Radiologic Corp., Term Loan A, 11/3/16		970,186
					$	23,759,311
				Managed Health Care - 0.1%
	862,105	9.75	B+/B2	AVETA, MSO Term Loan, 12/12/17	$	869,649
	1,185,395	9.75	B+/B2	MMM Holdings, Inc., Term Loan, 10/9/17		1,191,322
					$	2,060,971
				Total Health Care Equipment & Services	$	28,279,542
				Pharmaceuticals, Biotechnology & Life Sciences - 0.3%
				Biotechnology - 0.2%
	4,172,988	5.50	BB/B2	Aptalis Pharma, Inc., Term B-1 Loan, 1/25/17	$	4,196,461
				Pharmaceuticals - 0.1%
	1,192,726	5.00	B+/B1	Generic Drug Holdings, Inc., Closing Date Term Loan, 10/4/19	$	1,199,683
				Total Pharmaceuticals, Biotechnology & Life Sciences	$	5,396,144
				Diversified Financials - 0.2%
				Other Diversified Financial Services - 0.1%
	2,469,527	5.25	BB/Ba3	WorldPay, Facility B2A Term Loan, 8/6/17	$	2,486,196
				Consumer Finance - 0.1%
	849,600	5.50	B/B3	Springleaf Finance Corp., Initial Term Loan, 5/28/17	$	852,043
					$	852,043
				Total Diversified Financials	$	3,338,239
				Insurance - 0.8%
				Insurance Brokers - 0.7%
	14,186,195	3.69	B+/B1	HUB International Holdings, Inc., Term Loan, 6/13/17	$	14,262,190
				Multi-line Insurance - 0.1%
	1,268,625	5.00	B-/B1	Alliant Insurance Services, Inc., Initial Term Loan, 12/7/19	$	1,279,528
				Total Insurance	$	15,541,718
				Software & Services - 0.7%
				Application Software - 0.7%
	14,301,650	8.50	B-/Ba3	Expert Global Solutions, Inc., Term B Advance (First Lien), 3/13/18	$	14,560,868
	689,439	4.25	NR/B1	Vertafore, Inc., Term Loan (2013), 10/20/19		693,891
					$	15,254,759
				Total Software & Services	$	15,254,759
				Telecommunication Services - 0.4%
				Integrated Telecommunication Services - 0.4%
	7,575,000	3.50	NR/Ba3	Virgin Media Investment Holdings, Ltd., New Term B Loan, 2/6/20	$	7,578,681
				Total Telecommunication Services	$	7,578,681
				Utilities - 0.1%
				Electric Utilities - 0.1%
	862,593	7.75	B+/Ba2	Race Point Power, Term Loan, 1/11/18	$	864,749
	1,195,037	4.72	CCC/Caa3	Texas Competitive Electric Holdings Co. LLC, 2017 Term Loan (Extending), 10/10/17		841,194
					$	1,705,943
				Total Utilities	$	1,705,943
				TOTAL SENIOR FLOATING RATE LOAN INTERESTS
				(Cost $168,163,077)	$	167,921,395
	Shares
				RIGHTS / WARRANTS - 0.0%†
				Energy - 0.0%†
				Oil & Gas Equipment & Services - 0.0%†
	2,275			Green Field Energy Services, Inc. (144A)	$	136,500
				Total Energy	$	136,500
				Automobiles & Components - 0.0%†
				Auto Parts & Equipment - 0.0%†
	2,230			Lear Corp., 11/9/14	$	312,167
				Total Automobiles & Components	$	312,167
				TOTAL RIGHTS / WARRANTS
				(Cost $211,433)	$	448,667
	Principal Amount ($)
				TEMPORARY CASH INVESTMENTS - 3.2%
				Repurchase Agreements - 3.2%
	31,600,000		NR/Aaa	RBC Capital Markets Corp., 0.07%, dated 7/31/13, repurchase price of
				$31,600,000 plus accrued interest on 8/1/13 collateralized by $32,232,081
				Freddie Mac Giant, 2.5%, 7/1/27	$	31,600,000
	31,600,000		NR/Aaa	Bank of Nova Scotia, Inc., 0.09%, dated 7/31/13, repurchase price of
				$31,600,000 plus accrued interest on 8/1/13 collateralized by $32,232,000
				Freddie Mac Giant, 3.5%, 9/1/42		31,600,000
				TOTAL TEMPORARY CASH INVESTMENTS
				(Cost $63,200,000)	$	63,200,000
				TOTAL INVESTMENT IN SECURITIES - 100.9%
				(Cost $1,901,540,932) (a)	$	2,045,431,767
				OTHER ASSETS & LIABILITIES - (0.9)%	$	(18,773,891)
				TOTAL NET ASSETS - 100.0%	$	2,026,657,876
	†			Amount rounds to less than 0.1%.
	*			Non-income producing security.
	NR			Not rated by either S&P or Moody's.
	WR			Withdrawn rating.
	(144A)			Security is exempt from registration under Rule 144A of the Securities Act of 1933.  Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration.  At July 31, 2013, the value of these securities amounted to $488,030,972 or 24.1% of total net assets.
	(Perpetual)			Security with no stated maturity date.
	(Step)			Bond issued with an initial coupon rate which converts to a higher rate at a later date.
	REIT			Real Estate Investment Trust.
	PIK			Represents a pay in kind security.
	(Cat Bond)			Catastrophe Bond is a high-yield debt instrument that is usually insurance linked and meant to raise money in case of a catastrophe.
	**			Senior floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically redetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR (London InterBank Offered Rate), (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders. The rate shown is the coupon rate at period end.
	(a)			At July 31, 2013, the net unrealized gain on investments based on
				cost for federal income tax purposes of $1,909,569,979 was as follows:
				Aggregate gross unrealized appreciation for all investments in which
				there is an excess of value over tax cost	$	207,694,179
				Aggregate gross unrealized depreciation for all investments in which
				there is an excess of tax cost over value		(71,832,391)
				Net unrealized appreciation	$	135,861,788
	(b)			Debt obligation with a variable interest rate. Rate shown is rate at end of period.
	(c)			Security is valued using fair value methods (other than prices supplied by independent pricing services)
	(d)			Security is issued with a zero coupon. Income is recognized through accretion of discount.
	(e)			Security is in default and is non-income producing.
Various inputs are used in determining the value of the Fund's investments.  These inputs are summarized in the three broad levels listed below.
Level 1 – quoted prices in active markets for identical securities
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)
Generally, equity securities are categorized as Level 1, fixed income securities and senior loans as Level 2 and securities valued
using fair value methods (other than prices supplied by independent pricing services) as Level 3.
The following is a summary of the inputs used as of July 31, 2013, in valuing the Fund's investments:

		Level 1		Level 2		Level 3		Total
	Convertible Corporate Bonds	$	-	$	369,834,111	$	-	$	369,834,111
	Preferred Stocks		17,880,046		10,835,576		4,611,150		33,326,772
	Convertible Preferred Stocks		37,255,912		25,256,720		-		62,512,632
	Common Stocks		219,041,140		1,597,442		3,924,730		224,563,312
	Asset Backed Securities		-		3,499,212		-		3,499,212
	Collateralized Mortgage Obligations		-		4,651,271		-		4,651,271
	Corporate Bonds		-		1,105,877,899		9,596,496		1,115,474,395
	Senior Floating Rate Loan Interests		-		167,921,395		-		167,921,395
	Rights/Warrants		312,167		136,500		-		448,667
	Repurchase Agreements		-		63,200,000		-		63,200,000
	Total	$	274,489,265	$	1,752,810,126	$	18,132,376	$	2,045,431,767
	The following is a reconciliation of assets valued using significant observable inputs (Level 3):
		Preferred Stocks		Common Stocks		Corporate Bonds		Total
	Balance as of 10/31/12	$	-	$	1,857,807	$	-	$	1,857,807
	Realized gain (loss)1		-		-		-		-
	Change in unrealized appreciation (depreciation)2		111,150		2,033,423		346,496		2,491,069
	Net purchases		4,500,000		33,500		9,250,000		13,783,500
	Transfers in and out of Level 3		-		-		-		-
	Balance as of 7/31/13	$	4,611,150	$	3,924,730	$	9,596,496	$	18,132,376
1	Realized gain (loss) on these securities is included in the net realized gain (loss) on investments in the Statement of Operations.
2	Unrealized appreciation (depreciation) on these securities is included in the change in net unrealized gain (loss) on investments in the Statement of Operations.
	The net change in unrealized appreciation (depreciation) on Level 3 securities still held at period end is			$	2,491,069
	During the period ended July 31, 2013, there were no transfers between Levels 1, 2 and 3.

ITEM 2. CONTROLS AND PROCEDURES. (a) Disclose the conclusions of the registrant's principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, about the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR240.13a-15(b) or 240.15d-15(b)). The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) Disclose any change in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. There were no significant changes in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. (a) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2). Filed herewith. <PAGE> SIGNATURES [See General Instruction F] Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Pioneer High Yield Fund By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr, President Date September 27, 2013 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr., President Date September 27, 2013 By (Signature and Title)* /s/ Mark Bradley Mark Bradley, Treasurer Date September 27, 2013 * Print the name and title of each signing officer under his or her signature.