UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-08743
Van Kampen Senior Income Trust
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(Exact name of registrant as specified in charter)
1221 Avenue of the Americas, New York, New York 10020
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(Address of principal executive offices) (Zip code)
Ronald Robison
1221 Avenue of the Americas, New York, New York 10020
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(Name and address of agent for service)
Registrant's telephone number, including area code: 212-762-4000
Date of fiscal year end: 7/31
Date of reporting period: 10/31/05
Item 1. Schedule of Investments.
The Trust's schedule of investments as of the close of the reporting period
prepared pursuant to rule 12-12 of Regulation S-X is as follows:
Senior Income Trust
Portfolio of Investments
October 31, 2005 (Unaudited)
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
VARIABLE RATE** SENIOR LOAN INTERESTS 178.0%
AEROSPACE/DEFENSE 6.4%
$10,626 Alion Science and Technology Corp.,
Term Loan .............................................. B1 B+ 6.27 to 08/02/09 $ 10,705,676
6.45%
4,163 AM General, LLC,
Term Loan (b) .......................................... NR NR 8.37 to 11/01/11 4,339,406
10.25
2,948 Anteon International Corp.,
Term Loan (b) .......................................... Ba2 BB 5.83 12/31/10 2,986,414
1,643 Apptis, Inc.,
Term Loan .............................................. B2 B+ 7.29 01/05/10 1,653,667
7,585 ARINC, Inc.,
Term Loan .............................................. Ba3 BB 6.02 to 03/10/11 7,669,826
6.20
6,584 Ceradyne, Inc.,
Term Loan .............................................. Ba3 BB- 6.00 08/18/11 6,616,418
6,000 Delta Airlines, Inc.,
Term Loan .............................................. NR NR 8.39 to 03/16/08 6,221,902
10.39
4,057 DRS Technologies, Inc.,
Term Loan .............................................. Ba3 BB- 5.28 to 11/04/10 4,088,334
5.98
9,254 DynCorp International, LLC,
Term Loan .............................................. B2 B+ 6.69 to 02/11/11 9,292,059
6.81
3,890 ILC Industries, Inc.,
Term Loan .............................................. NR NR 6.52 02/24/12 3,951,035
10,331 K&F Industries, Inc.,
Term Loan .............................................. B2 B+ 6.34 to 11/16/12 10,453,934
6.45
5,274 SI International, Inc.,
Term Loan .............................................. B1 B+ 5.78 to 02/09/11 5,346,011
6.53
13,117 Spirit AeroSystems, Inc.,
Term Loan .............................................. B1 BB- 6.41 12/31/11 13,302,404
6,891 TransDigm, Inc.,
Term Loan .............................................. B1 B+ 6.19 07/22/10 7,000,416
5,746 Wyle Laboratories, Inc.,
Term Loan .............................................. NR B+ 6.46 01/28/11 5,828,726
------------
99,456,228
------------
AUTOMOTIVE 5.8%
9,374 Accuride Corp.,
Term Loan (b) .......................................... B1 B+ 6.13 to 01/31/12 9,446,282
6.25
14,021 Federal-Mogul Corp.,
Term Loan (c) .......................................... NR NR 7.83 12/09/05 14,055,961
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
AUTOMOTIVE (CONTINUED)
15,384 Federal-Mogul Corp.,
Revolving Credit Agreement (c) ......................... NR NR 7.83 12/09/05 15,431,585
2,300 Heartland Automotive Holdings, Inc.,
Term Loan .............................................. NR NR 6.86 to 01/31/10 to 2,323,360
10.86 01/31/12
10,448 MetoKote Corp.,
Term Loan .............................................. B2 B+ 6.94 to 11/27/11 10,499,738
7.25
6,120 Polypore, Inc.,
Term Loan .............................................. B1 B 6.34 11/12/11 6,133,323
10,922 Safelite Glass Corp.,
Term Loan .............................................. NR NR 8.52 to 09/30/07 10,867,137
9.02
3,818 Tenneco Automotive, Inc.,
Term Loan .............................................. B1 B+ 6.08 12/12/10 3,881,426
15,711 TRW Automotive, Inc.,
Term Loan .............................................. Ba2 BB+ 4.94 to 10/29/10 to 15,845,870
5.25 06/30/12
1,808 United Components, Inc.,
Term Loan .............................................. B1 BB- 6.26 06/30/10 1,837,719
------------
90,322,401
------------
BEVERAGE, FOOD & TOBACCO 11.0%
10,340 Acosta Sales Co., Inc.,
Term Loan (b) .......................................... NR NR 7.25 08/10/10 10,469,250
13,086 Birds Eye Foods, Inc.,
Term Loan (b) .......................................... B1 B+ 6.83 06/30/08 13,243,623
3,336 Commonwealth Brands, Inc.,
Term Loan (b) .......................................... NR NR 7.13 to 08/28/07 to 3,398,861
11.84 04/15/08
6,117 Constellation Brands, Inc.,
Term Loan (b) .......................................... Ba2 BB 5.44 to 11/30/11 6,190,530
5.75
5,211 Culligan International Co.,
Term Loan (b) .......................................... B1 B+ 6.47 09/30/11 5,278,630
7,245 Dole Food Co., Inc.,
Term Loan .............................................. Ba3 BB 5.31 to 04/18/12 7,313,497
7.25
6,900 Dole Holding Co.,
Term Loan .............................................. B3 B 9.44 07/22/10 7,115,625
21,551 DS Waters Enterprises, LP,
Term Loan .............................................. Caa2 CCC 8.56 to 11/07/09 20,985,272
8.58
6,783 Luigino's, Inc.,
Term Loan .............................................. B1 B+ 6.88 to 04/02/11 6,838,308
7.13
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
BEVERAGE, FOOD & TOBACCO (CONTINUED)
10,571 Michael Foods, Inc.,
Term Loan .............................................. B1 B+ 5.09 to 11/21/10 to 10,737,959
6.59 11/20/11
8,216 National Dairy Holdings, LP,
Term Loan .............................................. B1 NR 6.08 03/15/12 8,282,988
3,000 National Distributing, Co., Inc.,
Term Loan .............................................. NR NR 10.56 06/22/10 3,007,500
2,512 OSI Foods GMBH & Co. KG,
Term Loan .............................................. NR NR 6.02 09/02/11 2,544,437
5,652 OSI Group, LLC,
Term Loan .............................................. NR NR 6.02 09/02/11 5,724,984
3,140 OSI-Holland Finance B.V.,
Term Loan .............................................. NR NR 6.02 09/02/11 3,180,547
4,670 Pbm Products, LLC,
Term Loan .............................................. NR NR 7.09 to 07/26/11 4,704,997
7.17
8,104 Pierre Foods, Inc.,
Term Loan .............................................. B1 B+ 6.37 to 06/30/10 8,215,430
6.56
31,346 Pinnacle Foods, Inc.,
Term Loan .............................................. B1 B+ 6.37 to 11/25/10 31,776,940
7.31
750 Reddy Ice Group, Inc.,
Term Loan .............................................. B1 B+ 5.87 08/09/12 757,969
6,989 Sturm Foods, Inc.,
Term Loan .............................................. NR NR 6.81 to 05/26/11 to 7,059,916
10.69 05/26/12
1,204 Sunny Delight Beverage Co.,
Term Loan .............................................. B1 B+ 8.08 to 08/20/10 1,214,950
8.36
3,980 Volume Services America,
Term Loan .............................................. B2 NR 7.47 to 10/01/10 4,022,288
8.00
------------
172,064,501
------------
BROADCASTING - CABLE 11.7%
2,400 Adelphia Communications Corp.,
Term Loan .............................................. NR NR 2.25 03/31/06 2,412,000
5,319 Cebridge Connections, Inc.,
Term Loan .............................................. NR NR 6.78 to 02/23/09 5,352,244
3,300 Century Cable Holdings, LLC, 9.00
Term Loan (b) (c) ...................................... NR NR 8.75 06/30/09 3,273,778
61,241 Charter Communications Operating, LLC,
Term Loan (b) .......................................... B2 B 7.25 to 04/27/10 to 61,423,366
7.50 04/07/11
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
BROADCASTING - CABLE (CONTINUED)
9,593 Frontiervision Operating Partners, LP,
Term Loan (c)........................................... NR NR 8.15 to 09/30/05 to 9,641,646
8.28 03/31/06
2,354 Frontiervision Operating Partners, LP,
Revolving Credit Agreement (c).......................... NR NR 8.15 10/31/05 2,367,103
13,373 Hilton Head Communications, LP,
Term Loan (c)........................................... NR NR 8.00 03/31/08 13,159,280
7,360 Hilton Head Communications, LP,
Revolving Credit Agreement (c).......................... NR NR 6.75 09/30/07 7,190,720
9,222 Insight Midwest Holdings, LLC,
Term Loan............................................... Ba3 BB- 6.06 12/31/09 9,363,033
4,987 MCC Iowa, LLC,
Term Loan............................................... Ba3 BB- 5.87 to 02/01/14 5,064,987
6.23
47,495 Olympus Cable Holdings, LLC,
Term Loan (c)........................................... NR NR 8.00 to 06/30/10 to 46,936,821
8.75 09/30/10
10,871 Parnassos, LP,
Term Loan (c)........................................... NR NR 6.75 06/30/07 10,844,740
4,753 Parnassos, LP,
Revolving Credit Agreement (c).......................... NR NR 6.75 06/30/07 4,739,938
------------
181,769,656
------------
BROADCASTING - DIVERSIFIED 0.4%
6,000 Entravision Communications Corp.,
Term Loan............................................... Ba3 B+ 5.55 03/29/13 6,052,500
------------
BROADCASTING - RADIO 0.8%
8,973 Spanish Broadcasting Systems, Inc.,
Term Loan............................................... B1 B+ 6.03 to 06/10/12 to 9,107,088
7.51 06/10/13
3,483 Susquehanna Media Co.,
Term Loan............................................... Ba2 BB- 5.95 to 03/31/12 3,503,179
6.09
------------
12,610,267
------------
BROADCASTING - TELEVISION 0.6%
4,200 HIT Entertainment, Inc.,
Term Loan............................................... B1 B 6.11 03/20/12 4,215,750
5,342 NEP Supershooters, LP,
Term Loan............................................... B1 B 7.71 to 02/03/11 5,414,980
8.02
------------
9,630,730
------------
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
BUILDINGS & REAL ESTATE 8.4%
6,000 AIMCO Properties, LP,
Term Loan (b)........................................... NR NR 5.72 to 11/02/09 to 6,073,315
5.89 11/09/09
6,667 BioMed Realty, Inc.,
Term Loan (b)........................................... NR NR 6.11 05/30/10 6,675,000
6,188 CB Richard Ellis Services, Inc.,
Term Loan (b)........................................... Ba3 BB- 5.48 to 03/31/10 6,257,424
6.34
319 Central Parking Corp.,
Term Loan............................................... Ba3 BB- 6.02 03/31/10 320,757
3,121 Corrections Corp. of America,
Term Loan (b)........................................... Ba2 BB 5.62 to 03/31/08 3,160,397
5.96
140 Corrections Corp. of America,
Revolving Credit Agreement (b).......................... Ba2 BB 5.30 03/31/06 139,300
922 Crescent Real Estate Funding XII, LP,
Term Loan (b)........................................... NR NR 6.11 01/12/06 927,290
51,043 General Growth Properties, LLC,
Term Loan............................................... Ba2 BB+ 5.61 to 11/12/07 to 51,548,792
6.09 11/12/08
3,527 GEO Group, Inc.,
Term Loan............................................... Ba3 BB- 6.06 09/14/11 3,561,839
6,000 Landsource Communities Development, LLC,
Term Loan............................................... NR NR 6.50 03/31/10 6,054,378
12,936 Lion Gables Realty, LP,
Term Loan............................................... Ba2 BB+ 5.63 09/30/06 13,005,214
14,166 Macerich Partnership, LP,
Term Loan............................................... NR NR 5.63 to 04/25/06 to 14,234,903
5.66 04/25/10
3,513 NewKirk Master, LP,
Term Loan............................................... Ba2 BB+ 5.86 to 08/11/08 3,565,978
6.05
2,500 Shea Mountain House, LLC,
Term Loan............................................... NR NR 5.59 05/11/11 2,528,125
4,500 South Edge, LLC,
Term Loan............................................... NR NR 5.31 to 10/31/07 to 4,536,248
5.56 10/31/09
8,400 Yellowstone Development, LLC,
Term Loan............................................... NR NR 6.46 09/30/10 8,505,000
------------
131,093,960
------------
BUSINESS EQUIPMENT 0.8%
2,500 ACCO Brands Corp.,
Term Loan (b)........................................... Ba3 BB- 5.59 to 08/17/12 2,531,562
5.92
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- -----------
BUSINESS EQUIPMENT (CONTINUED)
4,495 Katun Corp.,
Term Loan............................................... NR B+ 8.27 06/30/09 4,505,750
5,477 Verifone, Inc.,
Term Loan............................................... B1 B+ 6.24 06/30/11 5,522,805
------------
12,560,117
------------
CHEMICALS, PLASTICS & RUBBER 11.6%
3,900 Basell Finance Co.,
Term Loan............................................... Ba3 B+ 6.58 to 09/07/13 to 3,968,115
7.24 09/07/14
1,789 Becker-Underwood, Inc.,
Term Loan............................................... NR NR 8.27 to 09/30/11 to 1,789,200
11.02 03/31/12
6,500 Brenntag, AG, (Germany),
Term Loan (b)........................................... B1 BB- 6.81 02/27/12 6,531,687
18,582 Celanese, AG (Germany),
Term Loan (b)........................................... B1 B+ 6.31 04/06/11 18,860,842
4,440 Hercules, Inc.,
Term Loan............................................... Ba1 BB 5.77 to 10/08/10 4,496,515
5.86
50,846 Huntsman International, LLC,
Term Loan............................................... Ba3 BB- 5.72 08/16/12 51,177,004
19,357 INVISTA,
Term Loan............................................... Ba3 BB 5.77 to 04/30/10 to 19,676,857
6.31 04/29/11
10,909 ISP Chemco, Inc.,
Term Loan............................................... Ba2 BB+ 5.75 to 03/27/11 11,045,236
5.94
8,349 Kraton Polymers, LLC,
Term Loan............................................... B1 B+ 6.19 to 12/23/10 8,484,505
6.63
23,933 Nalco Co.,
Term Loan............................................... B1 BB- 5.66 to 11/04/09 to 24,318,021
6.53 11/04/10
10,249 PQ Corp.,
Term Loan............................................... B1 B+ 6.06 02/10/12 10,331,769
20,549 Rockwood Specialties Group, Inc.,
Term Loan............................................... B1 B+ 6.47 07/30/12 20,901,782
------------
181,581,533
------------
CONSTRUCTION MATERIAL 1.9%
2,544 Brand Services, Inc.,
Term Loan (b)........................................... B2 B 7.02 to 01/15/12 2,586,551
7.29
1,863 Builders FirstSource, Inc.,
Term Loan (b)........................................... B1 BB- 6.19 to 08/11/11 to 1,878,860
8.04 02/15/12
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- -----------
CONSTRUCTION MATERIAL (CONTINUED)
1,955 Building Materials Holding Corp.,
Term Loan (b) .......................................... NR BB 5.78 06/30/10 1,969,662
6,680 Contech Construction Products, Inc,
Term Loan (b) .......................................... Ba3 BB- 6.08 to 12/07/10 6,786,111
8.00
5,344 Interline Brands, Inc.,
Term Loan .............................................. B1 BB 5.69 to 12/31/10 5,390,382
6.27
378 Itron, Inc.,
Term Loan .............................................. Ba3 BB- 5.63 to 07/01/11 381,453
5.94
600 Panolam Industries International, Inc.,
Term Loan .............................................. B1 B+ 6.77 09/30/12 609,000
2,280 Professional Paint, Inc.,
Term Loan .............................................. NR NR 6.94 to 09/30/11 2,297,100
7.31
938 Sensus Metering Systems, Inc.,
Term Loan .............................................. B2 B+ 6.35 to 12/17/10 948,669
6.54
1,740 Werner Holding, Inc.,
Term Loan .............................................. Caa2 B- 7.83 to 06/11/09 1,740,397
8.11
5,019 Werner Holding, Inc.,
Term Loan (g) .......................................... Caa2 B- 14.12 12/11/09 4,767,831
-----------
29,356,016
-----------
CONTAINERS, PACKAGING & GLASS 7.5%
4,589 Berry Plastics Corp.,
Term Loan (b) .......................................... B1 B+ 5.86 12/02/11 4,645,856
3,125 BWAY Corp.,
Term Loan (b) .......................................... B1 B+ 6.31 06/30/11 3,171,672
1,778 Consolidated Container Co., LLC,
Term Loan .............................................. B2 B- 7.31 to 12/15/08 1,800,830
7.50
22,858 Dr. Pepper Bottling Group, Inc.,
Term Loan .............................................. B1 NR 5.86 to 12/19/10 23,209,006
6.18
3,185 Graham Packaging Co., LP,
Term Loan .............................................. B2 B 6.38 to 10/07/11 to 3,230,527
8.25 04/07/12
16,911 Graphic Packaging International Corp.,
Term Loan .............................................. B1 B+ 6.19 to 06/30/10 17,088,132
6.72
185 Graphic Packaging International Corp.,
Revolving Credit Agreement ............................. B1 B+ 8.75 08/08/09 180,461
4,276 Impress Metal Packaging Holding
B.V., (Netherlands),
Term Loan .............................................. NR B+ 6.91 12/31/06 4,297,283
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
CONTAINERS, PACKAGING & GLASS (CONTINUED)
7,019 Kranson Industries, Inc.,
Term Loan .............................................. NR NR 6.78 07/30/11 7,124,518
15,791 Owens-Illinois, Inc.,
Term Loan .............................................. B1 BB- 5.67 to 04/01/07 to 15,938,265
5.87 04/01/08
8,157 Packaging Dynamics,
Term Loan .............................................. NR NR 6.03 to 09/29/08 to 8,176,940
6.28 09/29/09
6,268 Ranpak Corp.,
Term Loan .............................................. NR NR 6.97 to 03/15/10 to 6,315,097
10.47 03/17/11
8,950 Smurfit-Stone Container Corp.,
Term Loan .............................................. Ba3 BB- 5.56 to 11/01/11 9,064,913
5.88
2,990 Smurfit-Stone Container Corp.,
Revolving Credit Agreement ............................. Ba3 BB- 6.13 to 11/01/09 2,948,887
8
2,663 Solo Cup, Inc.,
Term Loan .............................................. B2 B+ 6.36 to 02/27/11 2,674,850
6.52
5,910 U.S. Can Corp.,
Term Loan .............................................. B3 B 7.65 to 01/15/10 5,939,550
7.75
1,108 Unifrax Corp.,
Term Loan .............................................. B1 B+ 6.38 03/29/12 1,126,304
------------
116,933,091
------------
DIVERSIFIED MANUFACTURING 0.7%
10,480 Euramax International, Inc.,
Term Loan .............................................. Caa1 B- 6.63 to 06/29/12 to 10,369,785
10.55 06/29/13
------------
ECOLOGICAL 5.0%
34,997 Allied Waste North America, Inc.,
Term Loan (b) .......................................... B1 BB 5.52 to 01/15/12 35,229,447
6.21
6,996 Duratek, Inc.,
Term Loan .............................................. B1 BB- 6.75 to 12/16/09 7,013,189
7.19
9,122 Envirocare of Utah, LLC,
Term Loan .............................................. NR NR 6.95 to 04/13/10 9,403,220
9.70
3,560 Environmental Systems Products Holdings,
Term Loan .............................................. Caa1 NR 6.99 to 12/12/08 to 3,628,959
14.24 12/12/10
4,636 Great Lakes Dredge & Dock Corp.,
Term Loan .............................................. B3 CCC+ 7.10 to 12/22/10 4,691,205
7.90
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
ECOLOGICAL (CONTINUED)
1,493 Safety-Kleen Corp.,
Term Loan .............................................. NR NR 10.94 09/15/08 1,522,350
to
11.08
3,943 Synagro Technologies, Inc.,
Term Loan .............................................. B2 BB- 6.17 06/21/12 3,969,964
4,746 Waste Services, Inc.,
Term Loan .............................................. Caa1 B- 7.14 to 03/31/11 4,796,426
7.61
1,167 Waste Services, Inc.,
Revolving Credit Agreement ............................. Caa1 B- 8.32 to 04/29/09 1,149,167
8.68
1,800 WasteQuip, Inc.,
Term Loan .............................................. B2 B- 6.52 to 07/15/11 to 1,827,000
10.02 07/15/12
5,473 WCA Waste Systems, Inc.,
Term Loan .............................................. B3 B 7.03 04/28/11 5,479,341
------------
78,710,268
------------
ELECTRONICS 5.0%
8,464 AMI Semiconductor, Inc.,
Term Loan (b) .......................................... Ba3 BB- 5.58 04/01/12 8,513,122
6,500 Amkor Technology, Inc.,
Term Loan .............................................. B2 B 8.33 10/27/10 6,670,625
4,475 Audio Visual Services Corp.,
Term Loan .............................................. B1 NR 6.78 05/18/11 4,519,750
4,178 Automata, Inc.,
Term Loan (a) (c) (i) .................................. NR NR N/A 02/28/03 to 0
02/28/04
847 Eastman Kodak Co.,
Term Loan .............................................. Ba2 B+ 6.25 to 10/18/12 844,306
6.61
17,234 ON Semiconductor Corp.,
Term Loan .............................................. B3 B+ 7.06 12/15/11 17,475,855
16,930 Spectrum Brands, Inc.,
Term Loan .............................................. B1 B+ 5.79 to 02/06/12 17,074,578
6.11
1,800 SSA Global Technologies, Inc.,
Term Loan .............................................. B2 BB- 5.97 09/22/11 1,811,250
9,867 UGS Corp.,
Term Loan .............................................. B1 B+ 6.08 03/31/12 10,023,918
5,360 Viasystems, Inc.,
Term Loan .............................................. B2 NR 8.27 to 09/30/09 5,433,193
8.38
5,000 Xerox Corp.,
Term Loan .............................................. NR BB- 5.83 09/30/08 5,050,000
------------
77,416,597
------------
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
ENTERTAINMENT & LEISURE 11.4%
2,726 24 Hour Fitness Worldwide, Inc.,
Term Loan (b) .......................................... B2 B 6.78 06/08/12 2,772,384
2,985 Alliance Atlantis Communications, Inc,
Term Loan (b) .......................................... Ba2 BB 5.83 12/20/11 3,012,053
499 Blockbuster, Inc.,
Term Loan .............................................. B3 B 6.99 to 08/20/11 486,521
7.54
2,877 Detroit Red Wings, Inc.,
Term Loan .............................................. NR NR 6.27 08/30/06 2,891,726
9,500 Fender Musical Instruments Corp.,
Term Loan .............................................. B1 B- 6.31 to 03/30/12 to 9,595,000
8.72 09/30/12
4,026 Festival Fun Parks, LLC,
Term Loan .............................................. NR NR 8.60 to 06/30/07 to 4,008,604
9.10 12/31/07
50,000 Metro-Goldwyn-Mayer Studios, Inc.,
Term Loan .............................................. NR NR 6.27 04/08/12 50,484,400
1,308 Metro-Goldwyn-Mayer Studios, Inc.,
Revolving Credit Agreement ............................. NR NR 6.58 04/08/10 1,268,462
5,000 Mets, LP,
Term Loan .............................................. NR NR 6.39 07/25/10 5,056,250
570 Movie Gallery, Inc.,
Term Loan .............................................. B2 B 7.58 04/27/10 558,362
8,500 New Jersey Basketball, LLC,
Term Loan .............................................. NR NR 7.63 08/16/08 8,500,000
2,101 Panavision, Inc.,
Term Loan .............................................. B3 CCC 10.39 01/12/07 2,146,918
7,679 Pure Fishing, Inc.,
Term Loan .............................................. B2 B- 6.77 to 09/30/10 to 7,742,636
9.39 03/31/11
29,634 Regal Cinemas Corp.,
Term Loan .............................................. Ba3 BB- 6.02 11/10/10 29,979,231
450 Regal Cinemas Corp.,
Revolving Credit Agreement ............................. Ba3 BB- 8.50 05/11/09 440,625
8,676 Six Flags Theme Parks, Inc.,
Term Loan .............................................. B1 B- 6.50 to 06/30/09 8,783,102
6.84
62 Six Flags Theme Parks, Inc.,
Revolving Credit Agreement ............................. B1 B- 6.72 06/30/08 61,176
4,200 Tiger Ballpark, LLC,
Term Loan .............................................. NR NR 5.63 08/15/10 4,210,500
9,306 True Temper Sports, Inc.,
Term Loan .............................................. B2 B 6.53 to 03/15/11 9,399,453
8.75
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
ENTERTAINMENT & LEISURE (CONTINUED)
5,955 Universal City Development Partners, LP,
Term Loan .............................................. Ba3 BB- 5.81 to 06/09/11 6,038,120
6.15
16,403 WMG Acquisition Corp.,
Term Loan .............................................. B1 B+ 5.52 to 02/28/11 16,589,394
6.37
2,263 Yankess Holdings, LP,
Term Loan .............................................. NR NR 6.36 06/25/07 2,285,486
1,445 Yonkers Racing Corp.,
Term Loan .............................................. NR NR 7.50 08/12/11 1,460,536
------------
177,770,939
------------
FARMING & AGRICULTURE 0.1%
1,944 Central Garden & Pet Co.,
Term Loan .............................................. Ba2 BB+ 5.72 to 05/15/09
5.83 1,971,792
------------
FINANCE 3.2%
3,807 DCS Business Services, Inc.,
Term Loan .............................................. NR NR 7.76 to 02/04/11 3,817,019
10.00
19,856 Fidelity National Information Solutions, Inc.,
Term Loan .............................................. Ba3 BB 5.69 03/09/13 19,947,549
7,912 Outsourcing Solutions, Inc.,
Term Loan .............................................. NR B- 8.34 09/30/10 7,971,424
6,959 Rent-A-Center, Inc.,
Term Loan .............................................. Ba2 BB+ 5.38 to 06/30/10 7,045,009
5.76
10,725 Transfirst Holdings, Inc.,
Term Loan .............................................. NR NR 7.06 to 03/31/10 to 10,788,844
11.56 03/31/11
------------
49,569,845
------------
HEALTHCARE 10.6%
6,771 Ameripath, Inc.,
Term Loan .............................................. B2 B+ 7.33 03/27/10 6,829,757
8,131 Center for Diagnostic Imaging (CDI),
Term Loan .............................................. B2 B+ 7.53 12/31/10 8,008,546
40,204 Community Health Systems, Inc.,
Term Loan (b) .......................................... Ba3 BB- 5.61 08/19/11 40,761,432
7,800 Concentra Operating Corp.,
Term Loan (b) .......................................... B1 B+ 6.05 09/30/11 7,899,941
995 Diagnostic Imaging Services, Inc., LLC,
Term Loan .............................................. B2 B+ 7.25 05/04/12 993,756
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
HEALTHCARE (CONTINUED)
11,019 FHC Health Systems, Inc.,
Term Loan .............................................. B2 B 9.87 to 12/18/09 to 11,274,463
12.87 02/09/11
1,152 Genoa Healthcare Group, LLC,
Term Loan .............................................. B2 B 7.11 to 08/10/12 1,168,560
9.00
2,322 Healthronics, Inc.,
Term Loan .............................................. Ba3 BB- 5.88 03/23/11 2,325,401
44,643 LifePoint Hospitals, Inc.,
Term Loan .............................................. Ba3 BB 5.44 04/15/12 44,974,250
4,150 Medcath Holdings Corp.,
Term Loan .............................................. B2 B+ 6.29 to 06/30/11 4,185,499
8.00
2,333 Multiplan, Inc.,
Term Loan .............................................. Ba3 B+ 6.53 03/04/09 2,368,333
3,809 PacifiCare Health Systems, Inc.,
Term Loan .............................................. Ba2 BBB- 5.13 to 12/13/10 3,823,887
5.63
26,315 Select Medical Corp.,
Term Loan .............................................. B1 BB- 5.57 to 02/24/12 26,362,057
7.50
1,300 Select Medical Corp.,
Revolving Credit Agreement ............................. B1 BB- 6.07 to 02/24/11 1,293,500
6.18
3,568 Sterigenics International, Inc.,
Term Loan .............................................. B2 B+ 6.87 to 06/14/11 3,621,146
8.75
------------
165,890,528
------------
HEALTHCARE & BEAUTY 2.6%
10,752 American Safety Razor Co.,
Term Loan (b) .......................................... B2 CCC+ 6.61 to 02/28/12 to 10,916,250
10.31 08/28/12
180 American Safety Razor Co.,
Revolving Credit Agreement ............................. B2 CCC+ 8.75 02/28/10 176,400
3,900 CEI Holdings, Inc.,
Term Loan .............................................. NR NR 6.62 to 12/03/10 to 3,796,890
10.42 12/03/11
2,993 Marietta Intermediate Holding Corp.,
Term Loan .............................................. NR NR 7.22 to 12/17/10 to 3,038,374
11.19 12/17/11
9,910 MD Beauty, Inc.,
Term Loan .............................................. B1 B 3.00 to 02/18/12 to 10,045,520
11.25 02/18/13
13,071 Prestige Brands Holdings, Inc.,
Term Loan .............................................. B1 B+ 5.18 to 04/06/11 13,250,926
8.00
------------
41,224,360
------------
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
HOME & OFFICE FURNISHINGS, HOUSEWARES &
DURABLE CONSUMER PRODUCTS 2.2%
6,058 Formica Corp.,
Term Loan .............................................. NR NR 9.03 to 06/10/10 6,088,483
9.08
3,825 Hunter Fan Co.,
Term Loan .............................................. B1 B 6.75 to 03/24/12 3,815,438
6.94
1,380 Imperial Home Decor Group, Inc.,
Term Loan (a)(d)(i) .................................... NR NR N/A 04/04/06 34,490
11,696 National Bedding Co.,
Term Loan .............................................. B1 BB- 5.82 to 08/31/11 to 11,608,844
9.17 08/31/12
12,247 Sealy Mattress Co.,
Term Loan .............................................. B1 B+ 5.62 to 04/06/12 12,372,945
7.25
------------
33,920,200
------------
HOTELS, MOTELS, INNS & GAMING 12.3%
1,429 Alliance Gaming Corp.,
Term Loan (b) .......................................... B1 BB- 6.77 09/04/09 1,428,879
4,888 Boyd Gaming Corp.,
Term Loan (b) .......................................... Ba2 BB 5.52 to 06/30/11 4,951,776
5.70
8,379 CCM Merger, Corp.,
Term Loan (b) .......................................... B1 B+ 5.84 to 09/30/12 8,460,176
5.96
7,500 CNL Hospitality Partners, LP,
Term Loan .............................................. NR NR 6.20 02/09/08 7,518,750
5,112 Global Cash Access, LLC,
Term Loan .............................................. B2 B+ 6.33 03/10/10 5,190,186
7,739 Greektown Casino, LLC,
Term Loan .............................................. NR NR 7.58 12/31/05 7,778,140
4,925 Green Valley Ranch Gaming, LLC,
Term Loan .............................................. B1 NR 6.02 12/17/11 4,996,082
4,179 Herbst Gaming, Inc.,
Term Loan .............................................. B1 B+ 6.02 to 01/31/11 4,233,849
6.20
5,243 Interstate Operating Co., LP,
Term Loan .............................................. B2 B 8.63 01/14/08 5,308,727
3,965 Isle of Capri Casinos, Inc.,
Term Loan .............................................. Ba2 BB- 3.74 to 02/04/11 3,997,867
6.17
6,000 Kuilima Resort Co.,
Term Loan .............................................. NR NR 6.83 to 09/30/10 to 6,060,000
10.58 09/30/11
4,871 Marina District Finance Co.,
Term Loan .............................................. NR NR 5.91 10/20/11 4,911,306
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
HOTELS, MOTELS, INNS & GAMING (CONTINUED)
7,339 MGM Mirage,
Term Loan .............................................. Ba2 BB 5.01 04/25/10 7,368,775
15,682 MGM Mirage,
Revolving Credit Agreement ............................. Ba2 BB 5.01 to 04/25/10 15,289,567
5.99
664 Pinnacle Entertainment,
Term Loan .............................................. B1 BB- 6.85 to 08/27/10 672,791
6.89
44,375 Planet Hollywood International, Inc.,
Term Loan .............................................. B3 B- 5.30 08/31/10 44,393,825
111 Planet Hollywood International, Inc.,
Term Loan (g) .......................................... B3 B- 8.05 08/31/10 110,787
8,836 Resorts International Hotel & Casino, Inc.,
Term Loan .............................................. B3 B 6.53 to 04/26/12 to 8,800,116
10.27 04/26/13
6,848 Scientific Games Corp.,
Term Loan .............................................. Ba2 BB 5.84 12/23/09 6,939,558
20,200 Venetian Casino Resorts, LLC,
Term Loan .............................................. B1 BB- 5.77 06/15/11 20,390,951
22,338 Wynn Las Vegas, LLC,
Term Loan .............................................. B2 B+ 6.20 12/14/11 22,602,758
------------
191,404,866
------------
INSURANCE 3.7%
8,887 Alliant Resources Group, Inc.,
Term Loan .............................................. B2 B 7.34 to 08/31/11 8,954,156
9.25
4,925 Bristol West Holdings, Inc.,
Term Loan .............................................. Ba1 BB+ 5.77 02/18/11 4,949,625
2,867 CCC Information Services Group, Inc.,
Term Loan .............................................. B1 B+ 6.83 08/20/10 2,873,857
6,759 Conseco, Inc.,
Term Loan (b) .......................................... B2 BB- 5.97 06/22/10 6,847,661
9,167 Hilb, Rogal & Hamilton Co.,
Term Loan .............................................. Ba3 BB 5.81 to 12/15/09 to 9,269,201
6.31 12/15/11
3,900 Mitchell International, Inc.,
Term Loan .............................................. B1 B+ 6.15 08/15/11 3,937,783
3,885 Universal American Financial Corp.,
Term Loan .............................................. NR BBB- 6.33 03/31/09 3,894,713
11,792 USI Holdings Corp.,
Term Loan .............................................. B1 BB- 6.74 08/11/08 11,843,471
5,184 Vertafore, Inc.,
Term Loan .............................................. NR NR 6.58 to 12/22/10 to 5,275,928
9.51 12/22/11
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
INSURANCE (CONTINUED)
------------
57,846,395
------------
MACHINERY 1.4%
7,658 Alliance Laundry Holdings, LLC,
Term Loan (b) .......................................... B1 B 6.14 01/27/12 7,770,030
2,382 Douglas Dynamics, LLC,
Term Loan .............................................. B1 BB- 6.02 12/16/10 2,411,775
3,000 Flowserve Corp.,
Term Loan .............................................. Ba3 BB- 5.81 08/10/12 3,044,064
6,749 Goodman Global Holdings, Inc.,
Term Loan .............................................. B2 B+ 6.38 12/23/11 6,854,453
2,463 United Rentals (North America), Inc.,
Term Loan .............................................. B2 BB 6.32 02/14/11 2,486,817
------------
22,567,139
------------
MEDICAL PRODUCTS & SERVICES 5.0%
5,360 American Medical Instruments Holdings, Inc.,
Term Loan .............................................. B2 B+ 6.90 to 12/09/10 5,398,024
7.08
1,439 Colgate Medical, Ltd. (England),
Term Loan .............................................. Ba2 BB- 6.01 to 12/30/08 1,453,023
6.03
4,836 CONMED Corp.,
Term Loan (b) .......................................... Ba3 BB- 6.28 12/15/09 4,900,442
46,412 DaVita, Inc.,
Term Loan .............................................. B1 BB- 6.25 to 10/05/12 47,153,207
6.54
5,888 Fisher Scientific International, Inc.,
Term Loan .............................................. Ba1 BBB 5.52 08/02/11 5,931,847
3,548 Kinetics Concepts, Inc.,
Term Loan .............................................. Ba3 BB 5.78 08/11/10 3,590,433
1,800 Renal Advantage, Inc.,
Term Loan .............................................. NR NR 6.44 10/06/12 1,820,813
565 Rotech Healthcare, Inc.,
Term Loan .............................................. Ba2 BB 7.03 03/31/08 569,291
3,582 The Cooper Cos., Inc.,
Term Loan (b) .......................................... Ba3 BB 5.50 01/06/12 3,608,865
3,204 VWR International, Inc.,
Term Loan .............................................. B2 B+ 6.69 04/07/11 3,253,724
------------
77,679,669
------------
MINING, STEEL, IRON & NON-PRECIOUS METALS 1.4%
5,170 New Enterprise Stone & Lime Co., Inc.,
Term Loan .............................................. NR NR 6.61 to 07/30/10 5,208,997
8.00
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- --------------
MINING, STEEL, IRON & NON-PRECIOUS METALS (CONTINUED)
14,218 Novelis, Inc.,
Term Loan .............................................. Ba2 BB- 5.46 01/06/12 14,387,656
2,312 Techs Industries, Inc.,
Term Loan .............................................. NR NR 6.77 to 01/14/10 2,315,391
6.84
----------
21,912,044
----------
NATURAL RESOURCES 5.8%
601 Cheniere LNG Holdings, LLC,
Term Loan .............................................. NR BB 6.77 to 08/30/12 604,313
6.95
1,855 Coffeyville Resources, LLC,
Term Loan (b) .......................................... B1 BB- 6.56 to 06/24/12 1,887,819
8.25
21,204 El Paso Corp.,
Term Loan .............................................. B3 B 6.81 11/23/09 21,387,788
2,796 Foundation PA Coal Co.,
Term Loan .............................................. Ba3 BB- 5.66 to 07/30/11 2,845,640
6.16
40,863 Kerr-McGee Corp.,
Term Loan .............................................. Ba3 BB+ 6.26 to 05/24/07 to 41,040,969
6.51 05/24/11
900 Key Energy Services Group, Inc.,
Term Loan .............................................. NR NR 7.02 06/30/12 914,063
8,038 LYONDELL-CITGO Refining, LP,
Term Loan .............................................. NR NR 5.51 05/21/07 8,158,824
4,751 SemCrude, LP,
Term Loan .............................................. Ba2 NR 6.12 to 03/16/11 4,777,406
7.75
9,445 Universal Compression, Inc.,
Term Loan .............................................. Ba2 BB 5.59 02/15/12 9,563,101
----------
91,179,923
----------
NON-DURABLE CONSUMER PRODUCTS 1.1%
4,938 Amscan Holdings, Inc.,
Term Loan (b) .......................................... B1 B+ 6.56 to 04/30/12 4,968,359
6.89
4,047 Church & Dwight Co., Inc.,
Term Loan (b) .......................................... Ba2 BB 5.82 05/30/11 4,094,470
5,857 JohnsonDiversey, Inc.,
Term Loan .............................................. B1 BB- 5.46 11/03/09 5,925,215
1,800 Mega Bloks, Inc.,
Term Loan .............................................. Ba3 BB- 5.63 to 07/27/10 1,824,188
6.00
----------
16,812,232
----------
Bank Loan
Principal Ratings +
Amount -------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- ---- ------- ----------- --------------
PAPER & FOREST PRODUCTS 0.9%
2,214 Boise Cascade, LLC,
Term Loan (b) .......................................... Ba3 BB 5.78 to 10/29/11 2,247,433
5.84
998 NewPage Corp.,
Term Loan .............................................. B1 B 6.49 to 05/02/11 1,007,475
7.13
4,241 White Birch Paper Co., (Canada),
Term Loan .............................................. B2 B+ 6.66 to 04/06/12 4,352,519
7.42
5,985 Xerium Technologies, Inc.,
Term Loan .............................................. B1 BB- 6.02 05/18/12 6,069,167
----------
13,676,594
----------
PERSONAL & MISCELLANEOUS SERVICES 2.8%
7,800 Affinion Group, Inc,
Term Loan (b) .......................................... B1 B+ 6.91 10/17/12 7,752,872
2,036 Alderwoods Group, Inc.,
Term Loan (b) .......................................... B1 BB- 5.48 to 09/29/09 2,066,337
6.12
8,342 Coinmach Laundry Corp.,
Term Loan (b) .......................................... B2 B 6.94 to 07/25/09 8,461,415
7.13
3,651 Global Imaging Systems, Inc.,
Term Loan .............................................. Ba2 NR 5.28 to 05/10/10 3,678,176
5.53
1,750 InfoUSA, Inc.,
Term Loan .............................................. Ba3 BB 6.53 03/25/09 1,754,375
11,112 Iron Mountain, Inc.,
Term Loan .............................................. B2 BB- 5.63 to 04/02/11 11,223,544
5.72
6,942 Stewart Enterprises, Inc.,
Term Loan .............................................. Ba3 BB 5.39 to 11/19/11 7,033,581
5.77
1,050 United Online, Inc.,
Term Loan .............................................. B1 B+ 6.88 to 12/13/08 1,055,250
7.19
----------
43,025,550
----------
PHARMACEUTICALS 2.1%
10,976 MedPointe, Inc.,
Term Loan .............................................. B2 B 8.24 to 09/30/07 to 11,095,593
9.10 09/30/08
1,496 Mylan Laboratories, Inc.,
Term Loan .............................................. Ba1 BBB- 5.40 06/30/10 1,516,823
20,482 Warner Chilcott Holding Co.,
Term Loan .............................................. B2 B 6.46 to 01/18/12 20,582,732
6.77
----------
33,195,148
----------
Bank Loan
Principal Ratings +
Amount -------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- ---- ------- ----------- ---------------
PRINTING & PUBLISHING 12.5%
11,726 Adams Outdoor Advertising, LP,
Term Loan (b) .......................................... B1 B+ 5.87 to 10/18/12 11,902,210
10,107 American Media Operations, Inc., 6.20
Term Loan (b) .......................................... B1 B 6.81 04/01/07 10,228,762
7,374 American Reprographics Co.,
Term Loan .............................................. Ba2 BB 5.52 to 06/18/09 7,429,759
5.64
1,789 Ascend Media Holdings, LLC,
Term Loan .............................................. NR NR 6.46 to 01/31/12 1,794,340
6.81
2,993 Canon Communications, LLC,
Term Loan .............................................. B3 B 7.77 05/31/11 2,992,500
9,900 Cygnus Business Media, Inc.,
Term Loan .............................................. B3 B- 9.75 07/13/09 9,850,500
4,862 Day International Group, Inc.,
Term Loan .............................................. B1 B 7.53 to 09/16/09 4,895,100
7.59
2,828 Dex Media East, LLC,
Term Loan (b) .......................................... Ba2 BB 5.50 to 05/08/09 2,844,852
13,310 Dex Media West, LLC, 5.93
Term Loan .............................................. Ba2 BB 5.49 to 03/09/10 13,389,217
5.96
4,950 Endurance Business Media, Inc.,
Term Loan .............................................. B1 B 6.22 03/08/12 4,996,406
1,800 Enterprise NewsMedia, LLC,
Term Loan .............................................. NR NR 6.86 06/30/12 1,822,500
14,283 F&W Publications, Inc.,
Term Loan .............................................. NR NR 6.03 to 08/05/12 to 13,162,875
10.40 02/05/13
3,271 Freedom Communications,
Term Loan .............................................. Ba2 BB 5.37 to 05/01/13 3,301,296
5.53
2,146 FSC Acquisition, LLC,
Term Loan .............................................. B2 B 6.02 to 08/01/12 2,153,742
6.33
9,056 Haights Cross Communications, LLC,
Term Loan .............................................. B3 B- 7.29 to 08/20/08 9,192,117
8.29
6,301 Herald Media, Inc.,
Term Loan .............................................. NR NR 6.78 to 07/22/11 to 6,362,615
9.78 01/22/12
11,445 Journal Register Co.,
Term Loan .............................................. Ba2 BB 5.55 to 08/12/12 11,550,511
5.74
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
PRINTING & PUBLISHING (CONTINUED)
8,548 Liberty Group Operating, Inc.,
Term Loan .............................................. B1 B 6.19 to 02/28/12 8,635,555
6.38
3,600 MC Communications, LLC,
Term Loan .............................................. NR NR 6.54 12/31/10 3,631,500
4,753 MediaNews Group, Inc.,
Term Loan .............................................. NR NR 5.34 12/30/10 4,769,763
9,094 Merrill Communications, LLC,
Term Loan .............................................. Ba3 B+ 6.58 07/30/09 9,216,266
8,883 Morris Publishing Group LLC,
Term Loan .............................................. Ba2 BB 5.81 03/31/11 8,927,289
7,386 Network Communications, Inc.,
Term Loan .............................................. NR NR 6.25 to 06/30/11 to 7,386,317
8.25 12/31/11
8,527 Primedia, Inc.,
Term Loan .............................................. NR B 6.11 09/30/13 8,359,539
21,396 R.H. Donnelley, Inc.,
Term Loan .............................................. Ba3 BB 5.52 to 12/31/09 to 21,565,030
6.17 06/30/11
4,588 Source Media, Inc.,
Term Loan .............................................. B2 NR 6.27 to 11/08/11 to 4,660,942
9.29 08/30/12
------------
195,021,503
------------
RESTAURANTS & FOOD SERVICE 2.3%
5,984 Arby's, LLC,
Term Loan .............................................. B1 B+ 6.11 to 07/25/12 6,028,020
6.49
12,269 Burger King Corp.,
Term Loan (b) .......................................... Ba2 B+ 5.83 06/30/12 12,411,659
2,927 Captain D's, LLC,
Term Loan .............................................. NR NR 7.84 12/27/10 2,970,398
6,967 Carrolls Corp.,
Term Loan (b) .......................................... B1 B+ 6.56 12/31/10 7,071,613
4,782 Denny's Corp.,
Term Loan .............................................. B3 CCC 7.12 to 09/30/09 to 4,879,243
9.39 09/30/10
2,895 Landry's Restaurants, Inc.,
Term Loan .............................................. Ba2 BB- 5.78 to 12/28/10 2,926,883
5.95
------------
36,287,816
------------
RETAIL - OIL & GAS 1.8%
404 Barjan Products, LLC,
Term Loan .............................................. NR NR 9.75 04/30/07 404,388
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
RETAIL - OIL & GAS (CONTINUED)
683 Barjan Products, LLC,
Term Loan (g) .......................................... NR NR 11.75 04/30/07 315
786 Barjan Products, LLC,
Revolving Credit Agreement ............................. NR NR 9.25 04/30/07 786,415
16,100 The Pantry, Inc.,
Term Loan .............................................. B1 B- 6.34 03/12/11 16,361,372
10,500 Travelcenters of America, Inc.,
Term Loan .............................................. B1 BB 5.62 to 12/01/11 10,624,688
5.77
------------
28,177,178
------------
RETAIL - SPECIALTY 1.9%
14,829 Nebraska Book Co., Inc.,
Term Loan .............................................. B2 B 6.52 to 03/04/11 14,958,456
6.70
14,966 Visant Holding Corp.,
Term Loan .............................................. B1 B+ 5.94 to 10/04/10 to 15,192,423
6.44 10/04/11
54 Visant Holding Corp.,
Revolving Credit Agreement ............................. B1 B+ 8.00 10/04/10 52,855
------------
30,203,734
------------
RETAIL - STORES 1.6%
3,682 Advance Stores Co., Inc.,
Term Loan (b) .......................................... Ba1 BB+ 5.56 to 09/30/10 3,735,481
5.75
1,257 Murray's Discount Auto Stores, Inc.,
Term Loan .............................................. NR NR 7.89 to 08/08/09 1,258,977
9.25
19,500 Neiman-Marcus Group, Inc.,
Term Loan .............................................. B1 B+ 6.48 04/06/13 19,626,750
------------
24,621,208
------------
TECHNOLOGY 3.2%
3,750 DoubleClick, Inc.,
Term Loan .............................................. B2 B 7.79 07/13/12 3,782,813
45,386 Sungard Data Systems, Inc.,
Term Loan .............................................. B1 B+ 6.28 02/11/13 45,837,525
------------
49,620,338
------------
TELECOMMUNICATIONS - LOCAL EXCHANGE CARRIERS 2.5%
5,400 Cincinnati Bell, Inc.,
Term Loan (b) .......................................... Ba3 B+ 5.36 to 08/31/12 5,437,125
5.39
9,800 Fairpoint Communications, Inc.,
Term Loan .............................................. B1 BB- 5.81 02/08/12 9,911,475
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- ------------
TELECOMMUNICATIONS - LOCAL EXCHANGE CARRIERS (CONTINUED)
3,500 Hawaiian Telcom, Inc.,
Term Loan .............................................. B1 B+ 6.28 10/31/12 3,543,204
2,400 Madison River Capital, LLC,
Term Loan .............................................. B1 B+ 6.59 07/29/12 2,435,501
1,702 Orius Corp., LLC,
Term Loan (j)........................................... NR NR 8.61 to 01/23/09 to 487,876
9.11 01/23/10
1,127 Orius Corp., LLC,
Revolving Credit Agreement (j).......................... NR NR 6.54 01/31/06 999,862
13,425 Qwest Corp.,
Term Loan .............................................. Ba3 BB 7.12 to 06/30/07 to 13,864,351
8.53 06/15/13
2,900 Valor Telecommunications, LLC,
Term Loan .............................................. Ba3 BB- 5.77 to 02/14/12 2,939,356
5.83
7,500 WCI Capital Corp.,
Term Loan (a) (c) (i) ................................. NR NR N/A 09/30/07 112,500
1,216 WCI Capital Corp.,
Debtor in Possesion (a) (c) (i) ....................... NR NR N/A 12/31/04 50,103
------------
39,781,353
------------
TELECOMMUNICATIONS - LONG DISTANCE 0.4%
5,946 WilTel Communications Group, LLC,
Term Loan .............................................. B2 NR 7.44 to 10/01/09 to 5,991,418
9.69 12/31/10
------------
TELECOMMUNICATIONS-WIRELESS 1.5%
2,200 AAT Communications Corp.,
Term Loan .............................................. B1 BB+ 6.61 07/29/13 2,234,375
3,567 Cellular South, Inc.,
Term Loan (b) .......................................... NR NR 5.81 to 05/04/11 3,604,869
7.25
12,805 Centennial Cellular, Inc.,
Term Loan (b) .......................................... B1 B- 5.77 to 02/09/11 12,906,749
6.45
4,000 Nextel Partners, Inc.,
Term Loan .............................................. Ba1 BBB- 5.37 05/31/12 4,022,084
------------
22,768,077
------------
TEXTILES & LEATHER 0.6%
1,995 Malden Mills Industries, Inc.,
Term Loan (a) .......................................... NR NR 8.50 10/01/08 599,355
8,250 The William Carter Co.,
Term Loan .............................................. B1 BB 5.65 to 07/14/12 8,360,864
5.81
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- --------------
TEXTILES & LEATHER (CONTINUED)
--------------
8,960,219
--------------
TRANSPORTATION - CARGO 0.7%
2,800 Jacobson Acquisition Co.,
Term Loan .............................................. NR NR 7.28 to 04/07/09 to 2,807,000
7.78 04/07/11
4,965 Pacer International, Inc.,
Term Loan .............................................. B1 BB 5.81 to 06/10/10 5,020,559
7.50
2,958 Quality Distribution, Inc.,
Term Loan .............................................. Caa1 B- 7.00 to 11/13/09 2,972,607
7.08
360 Quality Distribution, Inc.,
Revolving Credit Agreement ............................. Caa1 B- 9.00 11/13/08 360,000
--------------
11,160,166
--------------
TRANSPORTATION - PERSONAL 0.1%
934 Neoplan USA Corp.,
Revolving Credit Agreement (d)(i) ...................... NR NR 8.07 06/30/06 933,750
--------------
TRANSPORTATION-RAIL MANUFACTURING 0.7%
10,356 Helm Holding Corp.,
Term Loan .............................................. NR NR 6.25 to 07/08/11 to 10,546,693
10.25 07/08/12
--------------
UTILITIES 4.0%
20,374 Allegheny Energy, Inc.,
Term Loan (b) .......................................... Ba2 BB 5.64 to 03/08/11 20,618,918
5.92
4,067 Coletto Creek WLE, LP,
Term Loan (b) .......................................... Ba3 BB 6.16 06/30/11 4,138,658
600 La Paloma Generating Co., LLC,
Term Loan .............................................. B2 B 7.52 08/16/13 609,094
1,945 Midwest Generation, LLC,
Term Loan .............................................. Ba3 BB- 6.05 to 04/27/11 1,970,597
6.22
4,992 Pike Electric, Inc.,
Term Loan .............................................. NR NR 6.19 to 07/01/12 to 5,054,251
6.25 12/10/12
6,300 Primary Energy Operations, LLC,
Term Loan .............................................. NR NR 6.52 08/24/09 6,380,060
14,304 Reliant Energy Resources Corp.,
Term Loan .............................................. B1 B+ 6.09 to 04/30/10 14,366,550
6.43
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- --------------
UTILITIES (CONTINUED)
5,877 Texas Genco, LLC,
Term Loan .............................................. Ba2 BB 5.87 to 12/14/11 5,906,582
6.02
3,150 Thermal North America, Inc.,
Term Loan .............................................. Ba3 BB- 5.88 10/12/13 3,175,594
--------------
62,220,304
--------------
TOTAL VARIABLE RATE** SENIOR LOAN INTERESTS 178.0% ................. 2,775,868,631
--------------
NOTES 2.6%
Barjan Products, LLC ($1,194,460 par, 5.00% coupon, maturing 04/30/07) (g) $ 0
Builders FirstSource, Inc. ($5,700,000 par, 7.52% coupon, maturing 02/15/12) (h) 5,757,000
Commonwealth Brands, Inc. ($1,500,000 par, 10.83% coupon, maturing 08/28/07) (h) 1,571,250
Compression Polymers Corp. ($2,700,000 par, 10.46% coupon, maturing 07/01/12) (h) 2,497,500
Del Laboratories ($5,400,000 par, 9.25% coupon, maturing 11/01/11) (h) 5,413,500
Insight Health Services ($12,000,000 par, 9.21% coupon, maturing 11/01/11) (h) 11,490,000
Qwest Corp. ($3,500,000 par, 6.25% coupon, maturing 06/15/13) ( h) 3,710,000
Rogers Wireless Communications, Inc. ($9,000,000 par, 6.54% coupon, maturing
12/15/10) (Canada) (h) 9,360,000
US Unwired, Inc. ($1,200,000 par, 7.66% coupon, maturing 06/15/10) (h) 1,230,000
--------------
TOTAL NOTES 41,029,250
--------------
EQUITIES 0.1%
Aladdin Gaming Holdings, LLC (7.84% Ownership Interest, Acquired 09/30/04,
Cost $470,400 (e) (f) 71,556
Barjan Products, LLC. (2,201,571 preferred shares, Acquired 06/21/04,
Cost $3,104,488) (e) (f) 0
Comdisco Holding Co., Inc. (134 common shares) (e) 2,278
Environmental Systems Products Holdings, Inc. (3,275 common shares, Acquired
06/22/04, Cost $0) (e) (f) 91,995
IDT Corp. (22,898 common shares) (e) 273,402
Imperial Home Decor Group, Inc. (512,023 common shares, Acquired 04/26/01,
Cost $522,263) (d) (e) (f) (i) 0
London Clubs International (Warrants for 141,982 common shares, Acquired
10/15/04, Cost $260,912) (e) (f) 305,339
Malden Mills Industries (263,436 common shares, Acquired 10/29/03, Cost $0) (e) (f) 0
Malden Mills Industries (860,902 preferred shares, Acquired 10/29/03, Cost $0) (e) (f) 0
Neoplan USA Corp. (2,262 preferred shares, Acquired 09/04/03, Cost $1,074,521) (d) (e) (f) (i) 23
Neoplan USA Corp. (8,517 common shares, Acquired 09/04/03, Cost $85) (d) (e) (f) (i) 85
Orius Corp. (315,080 common shares, Acquired 02/03/03, Cost $0) (e) (f) (j) 0
Planet Hollywood International, Inc. (Warrants for 89,674 common shares, Acquired 09/03/04 &
07/22/05, Cost $0) (e) (f) 0
Railworks Corp. (Warrants for 865 common shares, Acquired 02/10/03, Cost $0) (e) (f) 0
Rotech Medical (48,485 common shares, Acquired 06/12/02, Cost $193,940) (e) (f) 0
Bank Loan
Principal Ratings +
Amount ------------- Stated
(000) Borrower Moody's S&P Coupon Maturity * Value
--------- -------------------------------------------------------- ------- --- ------- ----------- -------------
Safelite Glass Corp. (421,447 common shares, Acquired 10/20/00, Cost $1,714,995) (e) (f) 0
Safelite Realty (28,448 common shares, Acquired 10/26/00, Cost $0) (e) (f) 0
Targus Group International (Warrants for 28,689 common shares, Acquired 01/30/04, Cost $0) (e) (f) 57,378
--------------
TOTAL EQUITIES 802,056
--------------
TOTAL LONG-TERM INVESTMENTS 180.7%
(Cost $2,268,457,713) 2,817,699,937
--------------
SHORT-TERM INVESTMENTS 1.6%
REPURCHASE AGREEMENT 1.4%
State Street Bank & Trust Corp. ($23,000,000 par collateralized by U.S. Government obligations in a
pooled cash account, interest rate of 3.93%, dated 10/31/05, to be sold on 11/01/05 at $23,002,511) (b) 23,000,000
TIME DEPOSIT 0.2%
State Street Bank & Trust Corp. ($2,842,422 par, 1.95% coupon, dated 10/31/05, to be sold on 11/01/05
at $2,842,576) (b) 2,842,422
--------------
TOTAL SHORT-TERM INVESTMENTS
(Cost $25,842,422) 25,842,422
--------------
TOTAL INVESTMENTS 182.3%
(Cost $2,850,287,203) 2,843,542,359
BORROWINGS (36.8%) (574,000,000)
PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (44.9%) (700,327,561)
LIABILITIES IN EXCESS OF OTHER ASSETS (0.6%) (9,910,922)
--------------
NET ASSETS APPLICABLE TO COMMON SHARES 100.0% $1,559,303,876
--------------
NR - NOT RATED
+ Bank Loans rated below Baa by Moody's Investor Service, Inc. or BBB by
Standard & Poor's Group are considered to be below investment grade. Bank
loan ratings are unaudited.
Industry percentages are calculated as a percentage of net assets
applicable to common shares.
(a) This Senior Loan interest is non-income producing.
(b) A portion of this security is segregated in connection with unfunded
commitments.
(c) This borrower has filed for protection in federal bankruptcy court.
(d) Affiliated company.
(e) Non-income producing security as this stock or warrant currently does not
declare dividends.
(f) Restricted Security. Securities were acquired through the restructuring of
senior loans. These securities are restricted as they are not allowed to be
deposited via the Depository Trust Company. If at a later point in time,
the company wishes to register, the issuer will bear the costs associated
with registration. The aggregate value of restricted securities represents
0.03% of the net assets applicable to common shares of the Trust.
(g) Payment-in-kind security.
(h) Variable rate security. Interest rate shown is that in effect at October
31, 2005.
(i) This borrower is currently in liquidation.
(j) Subsequent to October 31, 2005, this borrower filed for protection in
federal bankruptcy court.
* Senior Loans in the Trust's portfolio generally are subject to mandatory
and/or optional prepayment. Because of these mandatory prepayment
conditions and because there may be significant economic incentives for a
Borrower to prepay, prepayments of Senior Loans in the Trust's portfolio
may occur. As a result, the actual remaining maturity of Senior Loans held
in the Trust's portfolio may be substantially less than the stated
maturities shown. Although the Trust is unable to accurately estimate the
actual remaining maturity of individual Senior Loans, the Trust estimates
that the actual average maturity of the Senior Loans held in its portfolio
will be approximately 18-24 months.
** Senior Loans in which the Trust invests generally pay interest at rates
which 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 the London Inter-Bank
Offered Rate ("LIBOR"), (ii) the prime rate offered by one or more major
United States banks and (iii) the certificate of deposit rate. Senior Loans
are generally considered to be restricted in that the Trust ordinarily is
contractually obligated to receive approval from the Agent Bank and/or
Borrower prior to the disposition of a Senior Loan.
Item 2. Controls and Procedures.
(a) The Trust's principal executive officer and principal financial officer have
concluded that the Trust's disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Trust in this Form N-Q
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms, based
upon such officers' evaluation of these controls and procedures as of a date
within 90 days of the filing date of the report.
(b) There were no changes in the Trust's internal control over financial
reporting that occurred during the registrant's fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the Trust's
internal control over financial reporting.
Item 3. Exhibits.
(a) A certification for the Principal Executive Officer of the registrant is
attached hereto as part of EX-99.cert.
(b) A certification for the Principal Financial Officer of the registrant is
attached hereto as part of EX-99.cert.
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.
(Registrant) Van Kampen Senior Income Trust
By: /s/ Ronald E. Robison
---------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: December 19, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.
By: /s/ Ronald E. Robison
----------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: December 19, 2005
By: /s/ Phillip G. Goff
--------------------
Name: Phillip G. Goff
Title: Principal Financial Officer
Date: December 19, 2005