High Yield

As of 12/31/2018
  Portfolio ICE BofAML HY
Yield-to-Worst 8.6% 8.0%
Modified Duration 3.9 years 4.3 years
Spread over Treasuries 607 bps 535 bps
Average Coupon Rate 6.5% 6.3%
Number of Issuers 150 859
  Portfolio Coupon
American Zinc Recycling 1.8 -- --
CCO Holdings LLC 0.9 5.750% 2/15/2026
Momentive Performance Materials 0.9 3.880% 10/24/2021
Weekley Homes LP 0.9 6.000% 2/1/2023
Rayonier A.M. Products, Inc. 0.9 5.500% 6/1/2024
  Portfolio ICE BofAML HY
Cash & Equivalents 2.4 0.0
Investment Grade 4.0 10.4
BB 38.2 49.9
B 45.8 31.9
CCC+ or lower 6.1 7.7
Non-Rated 3.5 0.0
Credit Default Swap Index 0.0 0.0
  Portfolio less
American Zinc Recycling 1.8 1.8
Pinnacle Agriculture Holdings LLC 1.0 1.0
Staples, Inc. 1.0 1.0
Weekley Homes LP 0.9 0.9
DAE Funding LLC (Florida) 0.9 0.9
Rayonier Advanced Materials, Inc. 0.8 0.9
Momentive Performance Materials 0.8 0.9
Harland Clarke Holdings Corp. 0.8 0.9
Shelf Drilling Ltd. 0.8 0.8
Fieldwood Energy 0.8 0.8

% 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