High Yield

Characteristics
As of 06/30/2018
STATISTICS
  Portfolio ICE BofAML HY
Yield-to-Worst 7.1% 6.5%
Modified Duration 3.7 years 4.2 years
Spread over Treasuries 441 bps 372 bps
Average Coupon Rate 6.7% 6.4%
Number of Issuers 144 878
TOP FIVE HOLDINGS (%)1
  Portfolio Coupon
Rate
Maturity
Date
American Zinc Recycling 1.6 -- --
Momentive Performance Mat'ls 1.0 3.880% 10/24/2021
Valeant Pharmaceuticals 0.9 6.125% 4/15/2025
Weekley Homes LP 0.9 6.000% 2/1/2023
CCO Holdings LLC 0.9 5.750% 2/15/2026
CREDIT QUALITY (%)1
  Portfolio ICE BofAML HY
Cash & Equivalents 1.2 0.0
Investment Grade 2.1 9.6
BB 40.7 50.9
B 47.6 31.8
CCC+ or lower 5.1 7.7
Non-Rated 3.3 0.0
Credit Default Swap Index 0.0 0.0
TOP TEN OVERWEIGHTS (%)1
  Portfolio less
ICE BofAML HY
Portfolio
American Zinc Recycling 1.6 1.6
FBM Finance 1.2 1.3
Pinnacle Agriculture Holdings LLC 1.2 1.2
Staples, Inc. 1.0 1.1
J.C. Penney Co., Inc. 0.9 1.1
Shelf Drilling Ltd. 0.9 0.9
Weekley Homes LP 0.9 0.9
Fieldwood Energy 0.9 0.9
Zachry Holdings, Inc. 0.9 0.9
Momentive Performance Mat'ls 0.9 1.0

% of Total Portfolio
ICE BofAML HY = ICE BofAML US High Yield Index

Data source: Hotchkis & Wiley, FactSet, Bloomberg

Information provided is based on a representative portfolio of the High Yield strategy. Statistics and holdings may vary due to different restrictions, cash flows, and other relevant considerations. Holdings identified do not represent all of the securities purchased, sold, or recommended for advisory clients, and may not be indicative of current or future holdings or trading activity. Securities shown in aggregate may represent only a limited portion of an account’s portfolio holdings. No assumptions should be made that companies identified, or all investment decisions were, or will be profitable. A complete list of portfolio holdings is available upon request. Investing in high yield securities is subject to certain risks, including market, credit, liquidity, issuer, interest-rate, inflation, and derivatives risks.  Lower-rated and non-rated securities involve greater risk than higher-rated securities. 

Credit Quality weights by rating were derived from the highest bond rating as determined by S&P, Moody's or Fitch. In limited situations when none of the three rating agencies have issued a formal rating, the Advisor will determine an internal rating.

Index definitions

Glossary of financial terms