Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CWB | Sell | SPDR SERIES TRUSTbrc cnv secs etf | $3,946,000 | -15.6% | 88,250 | -10.2% | 5.74% | -5.3% |
| Buy | DEPOMED INCnote 2.500% 9/0 | $3,384,000 | +12.5% | 2,840,000 | +21.4% | 4.92% | +26.2% | |
| Buy | J2 GLOBAL INCnote 3.250% 6/1 | $2,739,000 | +30.8% | 2,300,000 | +27.8% | 3.98% | +46.7% | |
| Sell | TAKE-TWO INTERACTIVE SOFTWARnote 1.000% 7/0 | $2,707,000 | -8.8% | 1,900,000 | -11.6% | 3.94% | +2.3% | |
| New | JARDEN CORPnote 1.500% 6/1 | $2,697,000 | – | 2,000,000 | – | 3.92% | – | |
| New | LIGAND PHARMACEUTICALS INCnote 0.750% 8/1 | $2,588,000 | – | 2,000,000 | – | 3.77% | – | |
| AGNPRA | New | ALLERGAN PLCpfd conv ser a | $2,361,000 | – | 2,500 | – | 3.44% | – |
| Buy | BIOMARIN PHARMACEUTICAL INCnote 0.750%10/1 | $2,349,000 | +0.7% | 1,800,000 | +20.0% | 3.42% | +13.0% | |
| Buy | SEACOR HOLDINGS INCnote 2.500%12/1 | $2,258,000 | +30.0% | 2,350,000 | +38.2% | 3.28% | +45.8% | |
| Sell | ALBANY MOLECULAR RESH INCnote 2.250%11/1 | $2,134,000 | -20.8% | 1,730,000 | -10.4% | 3.10% | -11.1% | |
| Buy | ACORDA THERAPEUTICS INCnote 1.750% 6/1 | $2,029,000 | +31.6% | 2,230,000 | +45.8% | 2.95% | +47.6% | |
| New | MOLINA HEALTHCARE INCdbcv 1.625% 8/1 | $2,029,000 | – | 1,560,000 | – | 2.95% | – | |
| New | UNITED STATES STL CORP NEWnote 2.750% 4/0 | $1,983,000 | – | 2,000,000 | – | 2.88% | – | |
| Buy | TTM TECHNOLOGIES INCnote 1.750%12/1 | $1,980,000 | -1.2% | 2,250,000 | +30.8% | 2.88% | +10.9% | |
| Sell | INFINERA CORPORATIONdbcv 1.750% 6/0 | $1,956,000 | -21.9% | 1,195,000 | -17.3% | 2.85% | -12.3% | |
| Sell | INTEGRA LIFESCIENCES HLDGS Cnote 1.625%12/1 | $1,781,000 | -16.3% | 1,500,000 | -14.3% | 2.59% | -6.1% | |
| New | MOLINA HEALTHCARE INCnote 1.125% 1/1 | $1,746,000 | – | 1,000,000 | – | 2.54% | – | |
| Buy | ATLAS AIR WORLDWIDE HLDGS INnote 2.250% 6/0 | $1,676,000 | -13.1% | 2,070,000 | +5.1% | 2.44% | -2.5% | |
| New | CLOVIS ONCOLOGY INCnote 2.500% 9/1 | $1,666,000 | – | 1,000,000 | – | 2.42% | – | |
| New | SPECTRANETICS CORPmtnf 2.625% 6/0 | $1,513,000 | – | 2,000,000 | – | 2.20% | – | |
| Buy | NEW MTN FIN CORPnote 5.000% 6/1 | $1,283,000 | +21.6% | 1,300,000 | +23.8% | 1.87% | +36.5% | |
| NEEPRQ | New | NEXTERA ENERGY INCunit 08/31/2018 | $1,029,000 | – | 20,000 | – | 1.50% | – |
| Sell | PENNYMAC CORPnote 5.375% 5/0 | $973,000 | -38.1% | 1,080,000 | -35.7% | 1.42% | -30.6% | |
| New | QIHOO 360 TECHNOLOGY CO LTDnote 2.500% 9/1 | $961,000 | – | 1,000,000 | – | 1.40% | – | |
| Sell | ASCENT CAP GROUP INCnote 4.000% 7/1 | $943,000 | -36.2% | 1,300,000 | -27.8% | 1.37% | -28.4% | |
| New | SPIRIT RLTY CAP INC NEWnote 2.875% 5/1 | $932,000 | – | 1,000,000 | – | 1.36% | – | |
| Sell | HORSEHEAD HLDG CORPnote 3.800% 7/0 | $805,000 | -53.6% | 1,400,000 | -17.6% | 1.17% | -48.0% | |
| Exit | QUIDEL CORPnote 3.250%12/1 | $0 | – | -1,000,000 | – | -1.30% | – | |
| Exit | AEGEAN MARINE PETE NETWORK Inote 4.000%11/0 | $0 | – | -1,000,000 | – | -1.42% | – | |
| Exit | GREEN PLAINS INCnote 3.250%10/0 | $0 | – | -1,240,000 | – | -2.34% | – | |
| Exit | WABASH NATL CORPnote 3.375% 5/0 | $0 | – | -1,500,000 | – | -2.44% | – | |
| Exit | SANDISK CORPnote 1.500% 8/1 | $0 | – | -1,500,000 | – | -2.52% | – | |
| Exit | ICONIX BRAND GROUP INCnote 1.500% 3/1 | $0 | – | -1,950,000 | – | -2.58% | – | |
| Exit | VIPSHOP HLDGS LTDnote 1.500% 3/1 | $0 | – | -1,900,000 | – | -3.13% | – | |
| Exit | ON SEMICONDUCTOR CORPnote 2.625%12/1 | $0 | – | -2,000,000 | – | -3.21% | – | |
| Exit | BROOKDALE SR LIVING INCnote 2.750% 6/1 | $0 | – | -2,000,000 | – | -3.40% | – | |
| Exit | TESARO INCnote 3.000%10/0 | $0 | – | -1,500,000 | – | -3.56% | – | |
| Exit | OMNICARE INCnote 3.750%12/1 | $0 | – | -1,000,000 | – | -4.61% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CWB | New | SPDR SERIES TRUSTbrc cnv secs etf | $4,673,000 | – | 98,250 | – | 6.06% | – |
| New | OMNICARE INCnote 3.750%12/1 | $3,552,000 | – | 1,000,000 | – | 4.61% | – | |
| New | ALON USA ENERGY INCnote 3.000% 9/1 | $3,015,000 | – | 2,150,000 | – | 3.91% | – | |
| New | DEPOMED INCnote 2.500% 9/0 | $3,008,000 | – | 2,340,000 | – | 3.90% | – | |
| New | TAKE-TWO INTERACTIVE SOFTWARnote 1.000% 7/0 | $2,969,000 | – | 2,150,000 | – | 3.85% | – | |
| New | TESARO INCnote 3.000%10/0 | $2,746,000 | – | 1,500,000 | – | 3.56% | – | |
| New | ALBANY MOLECULAR RESH INCnote 2.250%11/1 | $2,694,000 | – | 1,930,000 | – | 3.49% | – | |
| New | BROOKDALE SR LIVING INCnote 2.750% 6/1 | $2,621,000 | – | 2,000,000 | – | 3.40% | – | |
| New | INFINERA CORPORATIONdbcv 1.750% 6/0 | $2,503,000 | – | 1,445,000 | – | 3.25% | – | |
| New | JARDEN CORPnote 1.875% 9/1 | $2,485,000 | – | 1,480,000 | – | 3.22% | – | |
| New | ON SEMICONDUCTOR CORPnote 2.625%12/1 | $2,474,000 | – | 2,000,000 | – | 3.21% | – | |
| New | VIPSHOP HLDGS LTDnote 1.500% 3/1 | $2,413,000 | – | 1,900,000 | – | 3.13% | – | |
| New | BIOMARIN PHARMACEUTICAL INCnote 0.750%10/1 | $2,332,000 | – | 1,500,000 | – | 3.02% | – | |
| New | COWEN GROUP INC NEWnote 3.000% 3/1 | $2,317,000 | – | 1,775,000 | – | 3.00% | – | |
| New | INTEGRA LIFESCIENCES HLDGS Cnote 1.625%12/1 | $2,127,000 | – | 1,750,000 | – | 2.76% | – | |
| New | J2 GLOBAL INCnote 3.250% 6/1 | $2,094,000 | – | 1,800,000 | – | 2.72% | – | |
| New | TTM TECHNOLOGIES INCnote 1.750%12/1 | $2,004,000 | – | 1,720,000 | – | 2.60% | – | |
| New | ICONIX BRAND GROUP INCnote 1.500% 3/1 | $1,993,000 | – | 1,950,000 | – | 2.58% | – | |
| New | SANDISK CORPnote 1.500% 8/1 | $1,943,000 | – | 1,500,000 | – | 2.52% | – | |
| New | PDL BIOPHARMA INCnote 4.000% 2/0 | $1,936,000 | – | 2,044,000 | – | 2.51% | – | |
| New | ATLAS AIR WORLDWIDE HLDGS INnote 2.250% 6/0 | $1,929,000 | – | 1,970,000 | – | 2.50% | – | |
| New | CARRIAGE SVCS INCnote 2.750% 3/1 | $1,923,000 | – | 1,620,000 | – | 2.49% | – | |
| New | WABASH NATL CORPnote 3.375% 5/0 | $1,884,000 | – | 1,500,000 | – | 2.44% | – | |
| New | GREEN PLAINS INCnote 3.250%10/0 | $1,807,000 | – | 1,240,000 | – | 2.34% | – | |
| New | RADIAN GROUP INCnote 2.250% 3/0 | $1,800,000 | – | 1,015,000 | – | 2.33% | – | |
| New | SEACOR HOLDINGS INCnote 2.500%12/1 | $1,737,000 | – | 1,700,000 | – | 2.25% | – | |
| New | HORSEHEAD HLDG CORPnote 3.800% 7/0 | $1,736,000 | – | 1,700,000 | – | 2.25% | – | |
| New | PENNYMAC CORPnote 5.375% 5/0 | $1,573,000 | – | 1,680,000 | – | 2.04% | – | |
| New | ACORDA THERAPEUTICS INCnote 1.750% 6/1 | $1,542,000 | – | 1,530,000 | – | 2.00% | – | |
| New | ASCENT CAP GROUP INCnote 4.000% 7/1 | $1,478,000 | – | 1,800,000 | – | 1.92% | – | |
| New | ACCURAY INCnote 3.500% 2/0 | $1,344,000 | – | 1,000,000 | – | 1.74% | – | |
| New | ENCORE CAP GROUP INCnote 3.000%11/2 | $1,312,000 | – | 925,000 | – | 1.70% | – | |
| New | AEGEAN MARINE PETE NETWORK Inote 4.000%11/0 | $1,094,000 | – | 1,000,000 | – | 1.42% | – | |
| New | NEW MTN FIN CORPnote 5.000% 6/1 | $1,055,000 | – | 1,050,000 | – | 1.37% | – | |
| New | CHESAPEAKE ENERGY CORPnote 2.250%12/1 | $1,053,000 | – | 1,210,000 | – | 1.37% | – | |
| New | QUIDEL CORPnote 3.250%12/1 | $1,001,000 | – | 1,000,000 | – | 1.30% | – | |
| New | ENCORE CAP GROUP INCnote 2.875% 3/1 | $938,000 | – | 1,000,000 | – | 1.22% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| Exit | CHESAPEAKE ENERGY CORPnote 2.250%12/1 | $0 | – | -1,000,000 | – | -0.91% | – | |
| Exit | MEADOWBROOK INS GROUP INCdbcv 5.000% 3/1 | $0 | – | -1,000,000 | – | -0.92% | – | |
| Exit | J2 GLOBAL INCnote 3.250% 6/1 | $0 | – | -1,000,000 | – | -0.95% | – | |
| Exit | PROSPECT CAPITAL CORPORATIONnote 5.500% 8/1 | $0 | – | -1,000,000 | – | -0.99% | – | |
| Exit | DRYSHIPS INC.note 5.000%12/0 | $0 | – | -1,175,000 | – | -1.11% | – | |
| Exit | TAKE-TWO INTERACTIVE SOFTWARnote 1.000% 7/0 | $0 | – | -1,000,000 | – | -1.18% | – | |
| Exit | WALTER INVT MGMT CORPnote 4.500%11/0 | $0 | – | -1,500,000 | – | -1.18% | – | |
| Exit | MICRON TECHNOLOGY INCnote 3.000%11/1 | $0 | – | -1,000,000 | – | -1.26% | – | |
| Exit | WRIGHT MED GROUP INCnote 2.000% 8/1 | $0 | – | -1,000,000 | – | -1.28% | – | |
| Exit | WEB COM GROUP INCnote 1.000% 8/1 | $0 | – | -1,500,000 | – | -1.31% | – | |
| Exit | RTI INTL METALS INCnote 1.625%10/1 | $0 | – | -1,500,000 | – | -1.38% | – | |
| TBF | Exit | PROSHARES TRshrt 20+yr tre | $0 | – | -55,000 | – | -1.46% | – |
| Exit | PENNYMAC CORPnote 5.375% 5/0 | $0 | – | -1,750,000 | – | -1.64% | – | |
| Exit | HOME INNS & HOTELS MGMT INCnote 2.000%12/1 | $0 | – | -2,000,000 | – | -1.85% | – | |
| Exit | NUANCE COMMUNICATIONS INCnote 2.750%11/0 | $0 | – | -2,000,000 | – | -1.89% | – | |
| Exit | MOLINA HEALTHCARE INCnote 1.125% 1/1 | $0 | – | -1,740,000 | – | -1.96% | – | |
| Exit | VOLCANO CORPORATIONnote 1.750%12/0 | $0 | – | -2,500,000 | – | -2.06% | – | |
| Exit | ASCENT CAP GROUP INCnote 4.000% 7/1 | $0 | – | -2,500,000 | – | -2.14% | – | |
| Exit | COBALT INTL ENERGY INCnote 2.625%12/0 | $0 | – | -2,940,000 | – | -2.32% | – | |
| Exit | APOLLO COML REAL EST FIN INCnote 5.500% 3/1 | $0 | – | -2,500,000 | – | -2.37% | – | |
| Exit | TAKE-TWO INTERACTIVE SOFTWARnote 1.750%12/0 | $0 | – | -2,000,000 | – | -2.56% | – | |
| Exit | DEALERTRACK TECHNOLOGIES INCnote 1.500% 3/1 | $0 | – | -2,200,000 | – | -2.74% | – | |
| Exit | FOREST CITY ENTERPRISES INCnote 3.625% 8/1 | $0 | – | -2,900,000 | – | -2.86% | – | |
| Exit | RADIAN GROUP INCnote 2.250% 3/0 | $0 | – | -2,350,000 | – | -3.21% | – | |
| Exit | SEACOR HOLDINGS INCnote 2.500%12/1 | $0 | – | -3,150,000 | – | -3.23% | – | |
| Exit | JARDEN CORPnote 1.875% 9/1 | $0 | – | -2,500,000 | – | -3.27% | – | |
| Exit | ISTAR FINL INCnote 3.000%11/1 | $0 | – | -2,900,000 | – | -3.50% | – | |
| Exit | HORSEHEAD HLDG CORPnote 3.800% 7/0 | $0 | – | -2,900,000 | – | -3.57% | – | |
| Exit | ICONIX BRAND GROUP INCnote 2.500% 6/0 | $0 | – | -2,975,000 | – | -3.59% | – | |
| Exit | PRICELINE GRP INCdebt 1.000% 3/1 | $0 | – | -2,800,000 | – | -3.60% | – | |
| Exit | CUBIST PHARMACEUTICALS INCnote 2.500%11/0 | $0 | – | -1,700,000 | – | -3.79% | – | |
| Exit | SALIX PHARMACEUTICALS INCnote 1.500% 3/1 | $0 | – | -1,660,000 | – | -3.83% | – | |
| Exit | TELEFLEX INCnote 3.875% 8/0 | $0 | – | -2,400,000 | – | -3.98% | – | |
| Exit | SPANSION LLCnote 2.000% 9/0 | $0 | – | -2,400,000 | – | -4.03% | – | |
| Exit | ENCORE CAP GROUP INCnote 3.000%11/2 | $0 | – | -2,900,000 | – | -4.13% | – | |
| Exit | CEMEX SAB DE CVnote 3.750% 3/1 | $0 | – | -3,000,000 | – | -4.23% | – | |
| Exit | FIDELITY NATIONAL FINANCIALnote 4.250% 8/1 | $0 | – | -2,820,000 | – | -4.30% | – | |
| Exit | OMNICARE INCnote 3.750%12/1 | $0 | – | -1,925,000 | – | -4.41% | – | |
| CWB | Exit | SPDR SERIES TRUSTbrc cnv secs etf | $0 | – | -105,750 | – | -5.02% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| CWB | Buy | SPDR SERIES TRUSTbrc cnv secs etf | $5,250,000 | +14.6% | 105,750 | +16.5% | 5.02% | +8.2% |
| Sell | OMNICARE INCnote 3.750%12/1 | $4,607,000 | -9.5% | 1,925,000 | -3.8% | 4.41% | -14.5% | |
| Sell | FIDELITY NATIONAL FINANCIALnote 4.250% 8/1 | $4,494,000 | -8.8% | 2,820,000 | -6.0% | 4.30% | -13.9% | |
| Buy | CEMEX SAB DE CVnote 3.750% 3/1 | $4,420,000 | +16.3% | 3,000,000 | +20.0% | 4.23% | +9.8% | |
| Buy | ENCORE CAP GROUP INCnote 3.000%11/2 | $4,323,000 | +6.6% | 2,900,000 | +9.4% | 4.13% | +0.8% | |
| New | SPANSION LLCnote 2.000% 9/0 | $4,210,000 | – | 2,400,000 | – | 4.03% | – | |
| Sell | TELEFLEX INCnote 3.875% 8/0 | $4,160,000 | -3.2% | 2,400,000 | -2.0% | 3.98% | -8.5% | |
| Buy | SALIX PHARMACEUTICALS INCnote 1.500% 3/1 | $4,009,000 | +36.3% | 1,660,000 | +10.7% | 3.83% | +28.8% | |
| Buy | CUBIST PHARMACEUTICALS INCnote 2.500%11/0 | $3,963,000 | +15.6% | 1,700,000 | +21.4% | 3.79% | +9.2% | |
| New | PRICELINE GRP INCdebt 1.000% 3/1 | $3,763,000 | – | 2,800,000 | – | 3.60% | – | |
| Sell | ICONIX BRAND GROUP INCnote 2.500% 6/0 | $3,754,000 | -15.0% | 2,975,000 | -2.5% | 3.59% | -19.7% | |
| Sell | HORSEHEAD HLDG CORPnote 3.800% 7/0 | $3,733,000 | -10.3% | 2,900,000 | -3.3% | 3.57% | -15.3% | |
| Sell | ISTAR FINL INCnote 3.000%11/1 | $3,663,000 | -13.0% | 2,900,000 | -3.3% | 3.50% | -17.7% | |
| Sell | JARDEN CORPnote 1.875% 9/1 | $3,421,000 | -17.3% | 2,500,000 | -16.7% | 3.27% | -21.9% | |
| Sell | SEACOR HOLDINGS INCnote 2.500%12/1 | $3,382,000 | -9.3% | 3,150,000 | -3.1% | 3.23% | -14.3% | |
| Sell | RADIAN GROUP INCnote 2.250% 3/0 | $3,360,000 | -8.7% | 2,350,000 | -4.1% | 3.21% | -13.8% | |
| New | FOREST CITY ENTERPRISES INCnote 3.625% 8/1 | $2,987,000 | – | 2,900,000 | – | 2.86% | – | |
| New | TAKE-TWO INTERACTIVE SOFTWARnote 1.750%12/0 | $2,674,000 | – | 2,000,000 | – | 2.56% | – | |
| Buy | APOLLO COML REAL EST FIN INCnote 5.500% 3/1 | $2,475,000 | +56.4% | 2,500,000 | +66.7% | 2.37% | +47.8% | |
| Buy | COBALT INTL ENERGY INCnote 2.625%12/0 | $2,427,000 | +4.9% | 2,940,000 | +17.6% | 2.32% | -0.9% | |
| Sell | ASCENT CAP GROUP INCnote 4.000% 7/1 | $2,241,000 | -13.0% | 2,500,000 | -9.1% | 2.14% | -17.8% | |
| New | VOLCANO CORPORATIONnote 1.750%12/0 | $2,153,000 | – | 2,500,000 | – | 2.06% | – | |
| Sell | MOLINA HEALTHCARE INCnote 1.125% 1/1 | $2,047,000 | -18.2% | 1,740,000 | -13.0% | 1.96% | -22.7% | |
| New | NUANCE COMMUNICATIONS INCnote 2.750%11/0 | $1,978,000 | – | 2,000,000 | – | 1.89% | – | |
| Buy | HOME INNS & HOTELS MGMT INCnote 2.000%12/1 | $1,935,000 | +31.2% | 2,000,000 | +33.3% | 1.85% | +23.9% | |
| New | RTI INTL METALS INCnote 1.625%10/1 | $1,438,000 | – | 1,500,000 | – | 1.38% | – | |
| New | WEB COM GROUP INCnote 1.000% 8/1 | $1,374,000 | – | 1,500,000 | – | 1.31% | – | |
| Sell | WRIGHT MED GROUP INCnote 2.000% 8/1 | $1,338,000 | -35.0% | 1,000,000 | -33.3% | 1.28% | -38.6% | |
| New | MICRON TECHNOLOGY INCnote 3.000%11/1 | $1,314,000 | – | 1,000,000 | – | 1.26% | – | |
| Sell | WALTER INVT MGMT CORPnote 4.500%11/0 | $1,239,000 | -55.2% | 1,500,000 | -50.0% | 1.18% | -57.6% | |
| New | TAKE-TWO INTERACTIVE SOFTWARnote 1.000% 7/0 | $1,235,000 | – | 1,000,000 | – | 1.18% | – | |
| Sell | DRYSHIPS INC.note 5.000%12/0 | $1,163,000 | -21.5% | 1,175,000 | -21.7% | 1.11% | -25.8% | |
| New | J2 GLOBAL INCnote 3.250% 6/1 | $997,000 | – | 1,000,000 | – | 0.95% | – | |
| Sell | MEADOWBROOK INS GROUP INCdbcv 5.000% 3/1 | $959,000 | -54.5% | 1,000,000 | -50.0% | 0.92% | -57.0% | |
| Sell | CHESAPEAKE ENERGY CORPnote 2.250%12/1 | $950,000 | -34.2% | 1,000,000 | -33.3% | 0.91% | -37.8% | |
| Exit | WEBMD HEALTH CORPnote 2.500% 1/3 | $0 | – | -1,000,000 | – | -1.06% | – | |
| Exit | SPIRIT RLTY CAP INC NEWnote 3.750% 5/1 | $0 | – | -1,100,000 | – | -1.12% | – | |
| Exit | TESLA MTRS INCnote 1.250% 3/0 | $0 | – | -1,500,000 | – | -1.47% | – | |
| Exit | CEMEX SAB DE CVnote 3.250% 3/1 | $0 | – | -1,500,000 | – | -2.20% | – | |
| Exit | WELLPOINT INCnote 2.750%10/1 | $0 | – | -1,500,000 | – | -2.33% | – | |
| Exit | SANDISK CORPnote 1.500% 8/1 | $0 | – | -1,300,000 | – | -2.70% | – | |
| Exit | DEVELOPERS DIVERSIFIED RLTYnote 1.750%11/1 | $0 | – | -2,500,000 | – | -3.04% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| New | OMNICARE INCnote 3.750%12/1 | $5,090,000 | – | 2,000,000 | – | 5.15% | – | |
| New | FIDELITY NATIONAL FINANCIALnote 4.250% 8/1 | $4,930,000 | – | 3,000,000 | – | 4.99% | – | |
| CWB | New | SPDR SERIES TRUSTbrc cnv secs etf | $4,583,000 | – | 90,750 | – | 4.64% | – |
| New | ICONIX BRAND GROUP INCnote 2.500% 6/0 | $4,415,000 | – | 3,050,000 | – | 4.47% | – | |
| New | TELEFLEX INCnote 3.875% 8/0 | $4,297,000 | – | 2,450,000 | – | 4.35% | – | |
| New | ISTAR FINL INCnote 3.000%11/1 | $4,208,000 | – | 3,000,000 | – | 4.26% | – | |
| New | HORSEHEAD HLDG CORPnote 3.800% 7/0 | $4,163,000 | – | 3,000,000 | – | 4.21% | – | |
| New | JARDEN CORPnote 1.875% 9/1 | $4,136,000 | – | 3,000,000 | – | 4.19% | – | |
| New | ENCORE CAP GROUP INCnote 3.000%11/2 | $4,054,000 | – | 2,650,000 | – | 4.10% | – | |
| New | CEMEX SAB DE CVnote 3.750% 3/1 | $3,802,000 | – | 2,500,000 | – | 3.85% | – | |
| New | SEACOR HOLDINGS INCnote 2.500%12/1 | $3,730,000 | – | 3,250,000 | – | 3.78% | – | |
| New | RADIAN GROUP INCnote 2.250% 3/0 | $3,682,000 | – | 2,450,000 | – | 3.73% | – | |
| New | CUBIST PHARMACEUTICALS INCnote 2.500%11/0 | $3,429,000 | – | 1,400,000 | – | 3.47% | – | |
| New | DEVELOPERS DIVERSIFIED RLTYnote 1.750%11/1 | $2,999,000 | – | 2,500,000 | – | 3.04% | – | |
| New | DEALERTRACK TECHNOLOGIES INCnote 1.500% 3/1 | $2,943,000 | – | 2,200,000 | – | 2.98% | – | |
| New | SALIX PHARMACEUTICALS INCnote 1.500% 3/1 | $2,942,000 | – | 1,500,000 | – | 2.98% | – | |
| New | WALTER INVT MGMT CORPnote 4.500%11/0 | $2,764,000 | – | 3,000,000 | – | 2.80% | – | |
| New | SANDISK CORPnote 1.500% 8/1 | $2,663,000 | – | 1,300,000 | – | 2.70% | – | |
| New | ASCENT CAP GROUP INCnote 4.000% 7/1 | $2,576,000 | – | 2,750,000 | – | 2.61% | – | |
| New | MOLINA HEALTHCARE INCnote 1.125% 1/1 | $2,501,000 | – | 2,000,000 | – | 2.53% | – | |
| New | COBALT INTL ENERGY INCnote 2.625%12/0 | $2,313,000 | – | 2,500,000 | – | 2.34% | – | |
| New | WELLPOINT INCnote 2.750%10/1 | $2,303,000 | – | 1,500,000 | – | 2.33% | – | |
| New | CEMEX SAB DE CVnote 3.250% 3/1 | $2,179,000 | – | 1,500,000 | – | 2.20% | – | |
| New | MEADOWBROOK INS GROUP INCdbcv 5.000% 3/1 | $2,108,000 | – | 2,000,000 | – | 2.13% | – | |
| New | WRIGHT MED GROUP INCnote 2.000% 8/1 | $2,058,000 | – | 1,500,000 | – | 2.08% | – | |
| New | PENNYMAC CORPnote 5.375% 5/0 | $1,731,000 | – | 1,750,000 | – | 1.75% | – | |
| TBF | New | PROSHARES TRshrt 20+yr tre | $1,584,000 | – | 55,000 | – | 1.60% | – |
| New | APOLLO COML REAL EST FIN INCnote 5.500% 3/1 | $1,582,000 | – | 1,500,000 | – | 1.60% | – | |
| New | DRYSHIPS INC.note 5.000%12/0 | $1,481,000 | – | 1,500,000 | – | 1.50% | – | |
| New | HOME INNS & HOTELS MGMT INCnote 2.000%12/1 | $1,475,000 | – | 1,500,000 | – | 1.49% | – | |
| New | TESLA MTRS INCnote 1.250% 3/0 | $1,453,000 | – | 1,500,000 | – | 1.47% | – | |
| New | CHESAPEAKE ENERGY CORPnote 2.250%12/1 | $1,443,000 | – | 1,500,000 | – | 1.46% | – | |
| New | SPIRIT RLTY CAP INC NEWnote 3.750% 5/1 | $1,105,000 | – | 1,100,000 | – | 1.12% | – | |
| New | WEBMD HEALTH CORPnote 2.500% 1/3 | $1,050,000 | – | 1,000,000 | – | 1.06% | – | |
| New | PROSPECT CAPITAL CORPORATIONnote 5.500% 8/1 | $1,043,000 | – | 1,000,000 | – | 1.06% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| VXX | Exit | BARCLAYS BK PLCipath s&p500 vix | $0 | – | -4,000 | – | -0.06% | – |
| NEEPRO | Exit | NEXTERA ENERGY INCunit 09/01/2015 | $0 | – | -17,000 | – | -0.88% | – |
| Exit | CADENCE DESIGN SYSTEM INCnote 1.500%12/1 | $0 | – | -1,000,000 | – | -0.96% | – | |
| TBF | Exit | PROSHARES TRshrt 20+yr tre | $0 | – | -35,000 | – | -1.07% | – |
| Exit | CENTRAL EUROPEAN MEDIAnote 5.000%11/1 | $0 | – | -1,300,000 | – | -1.19% | – | |
| Exit | GREEN PLAINS RENEWABLE ENERGnote 5.750%11/0 | $0 | – | -1,000,000 | – | -1.24% | – | |
| XLU | Exit | SELECT SECTOR SPDR TRsbi int-utils | $0 | – | -35,000 | – | -1.25% | – |
| Exit | MERRIMACK PHARMACEUTICALS INnote 4.500% 7/1 | $0 | – | -1,500,000 | – | -1.30% | – | |
| Exit | DOLLAR FINL CORPnote 3.000% 4/0 | $0 | – | -1,500,000 | – | -1.38% | – | |
| MTCN | Exit | ARCELORMITTAL SA LUXEMBOURGmand cv nt 16 | $0 | – | -74,000 | – | -1.52% | – |
| Exit | L-3 COMMUNICATIONS CORPdebt 3.000% 8/0 | $0 | – | -1,500,000 | – | -1.56% | – | |
| Exit | INTERMUNE INCnote 2.500% 9/1 | $0 | – | -2,000,000 | – | -1.71% | – | |
| Exit | CADENCE DESIGN SYSTEM INCnote 2.625% 6/0 | $0 | – | -1,000,000 | – | -1.74% | – | |
| Exit | AMERICAN RLTY CAP PPTYS INCnote 3.000% 8/0 | $0 | – | -2,000,000 | – | -1.81% | – | |
| Exit | CEMEX SAB DE CVnote 3.250% 3/1 | $0 | – | -1,500,000 | – | -1.83% | – | |
| Exit | DRYSHIPS INC.note 5.000%12/0 | $0 | – | -2,000,000 | – | -1.86% | – | |
| Exit | HOLOGIC INCfrnt 2.000%12/1 | $0 | – | -2,000,000 | – | -1.91% | – | |
| Exit | ASCENT CAP GROUP INCnote 4.000% 7/1 | $0 | – | -2,000,000 | – | -1.98% | – | |
| Exit | SALIX PHARMACEUTICALS INCnote 2.750% 5/1 | $0 | – | -1,500,000 | – | -2.19% | – | |
| Exit | WEBMD HEALTH CORPnote 2.500% 1/3 | $0 | – | -2,400,000 | – | -2.20% | – | |
| Exit | STERLITE INDS INDIA LTDnote 4.000%10/3 | $0 | – | -2,500,000 | – | -2.34% | – | |
| Exit | CEMEX SAB DE CVnote 3.750% 3/1 | $0 | – | -2,000,000 | – | -2.49% | – | |
| Exit | ICONIX BRAND GROUP INCnote 2.500% 6/0 | $0 | – | -2,250,000 | – | -2.65% | – | |
| Exit | DEVELOPERS DIVERSIFIED RLTYnote 1.750%11/1 | $0 | – | -2,500,000 | – | -2.71% | – | |
| Exit | WEB COM GROUP INCnote 1.000% 8/1 | $0 | – | -2,500,000 | – | -2.72% | – | |
| Exit | RADIAN GROUP INCnote 2.250% 3/0 | $0 | – | -2,000,000 | – | -2.79% | – | |
| Exit | CUBIST PHARMACEUTICALS INCnote 2.500%11/0 | $0 | – | -1,400,000 | – | -3.01% | – | |
| Exit | GROUP 1 AUTOMOTIVE INCfrnt 2.250% 6/1 | $0 | – | -2,500,000 | – | -3.12% | – | |
| Exit | ENERSYSnote 3.375% 6/0 | $0 | – | -2,200,000 | – | -3.25% | – | |
| Exit | AKORN INCnote 3.500% 6/0 | $0 | – | -1,500,000 | – | -3.29% | – | |
| Exit | ENCORE CAP GROUP INCnote 3.000%11/2 | $0 | – | -2,250,000 | – | -3.34% | – | |
| Exit | TELEFLEX INCnote 3.875% 8/0 | $0 | – | -2,500,000 | – | -3.36% | – | |
| CWB | Exit | SPDR SERIES TRUSTbrc cnv secs etf | $0 | – | -78,750 | – | -3.40% | – |
| Exit | ENDO HEALTH SOLUTIONS INCnote 1.750% 4/1 | $0 | – | -2,500,000 | – | -3.79% | – | |
| Exit | MICRON TECHNOLOGY INCdebt 1.875% 6/0 | $0 | – | -2,500,000 | – | -3.84% | – | |
| Exit | UNITED THERAPEUTICS CORP DELnote 1.000% 9/1 | $0 | – | -2,500,000 | – | -4.05% | – | |
| Exit | OMNICARE INCnote 3.750%12/1 | $0 | – | -2,000,000 | – | -4.06% | – | |
| Exit | ENPRO INDS INCdbcv 3.938%10/1 | $0 | – | -2,375,000 | – | -4.17% | – | |
| Exit | MYLAN INCnote 3.750% 9/1 | $0 | – | -1,900,000 | – | -5.26% | – | |
| Exit | VIROPHARMA INCnote 2.000% 3/1 | $0 | – | -3,300,000 | – | -6.75% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| Buy | VIROPHARMA INCnote 2.000% 3/1 | $7,072,000 | +115.5% | 3,300,000 | +65.0% | 6.75% | +97.2% | |
| Buy | OMNICARE INCnote 3.750%12/1 | $4,250,000 | +52.9% | 2,000,000 | +33.3% | 4.06% | +39.9% | |
| Buy | UNITED THERAPEUTICS CORP DELnote 1.000% 9/1 | $4,245,000 | +46.1% | 2,500,000 | +25.0% | 4.05% | +33.7% | |
| Buy | MICRON TECHNOLOGY INCdebt 1.875% 6/0 | $4,021,000 | +200.5% | 2,500,000 | +150.0% | 3.84% | +175.0% | |
| Buy | ENDO HEALTH SOLUTIONS INCnote 1.750% 4/1 | $3,970,000 | +197.4% | 2,500,000 | +150.0% | 3.79% | +172.1% | |
| Buy | TELEFLEX INCnote 3.875% 8/0 | $3,521,000 | +160.8% | 2,500,000 | +150.0% | 3.36% | +138.5% | |
| New | AKORN INCnote 3.500% 6/0 | $3,445,000 | – | 1,500,000 | – | 3.29% | – | |
| Buy | GROUP 1 AUTOMOTIVE INCfrnt 2.250% 6/1 | $3,272,000 | +173.6% | 2,500,000 | +150.0% | 3.12% | +150.3% | |
| Sell | CUBIST PHARMACEUTICALS INCnote 2.500%11/0 | $3,156,000 | -18.3% | 1,400,000 | -36.4% | 3.01% | -25.2% | |
| New | RADIAN GROUP INCnote 2.250% 3/0 | $2,920,000 | – | 2,000,000 | – | 2.79% | – | |
| New | WEB COM GROUP INCnote 1.000% 8/1 | $2,844,000 | – | 2,500,000 | – | 2.72% | – | |
| Buy | DEVELOPERS DIVERSIFIED RLTYnote 1.750%11/1 | $2,838,000 | +142.8% | 2,500,000 | +150.0% | 2.71% | +122.0% | |
| Buy | ICONIX BRAND GROUP INCnote 2.500% 6/0 | $2,776,000 | +94.8% | 2,250,000 | +80.0% | 2.65% | +78.2% | |
| New | CEMEX SAB DE CVnote 3.750% 3/1 | $2,605,000 | – | 2,000,000 | – | 2.49% | – | |
| Buy | STERLITE INDS INDIA LTDnote 4.000%10/3 | $2,450,000 | +152.3% | 2,500,000 | +150.0% | 2.34% | +130.9% | |
| Sell | WEBMD HEALTH CORPnote 2.500% 1/3 | $2,304,000 | -14.6% | 2,400,000 | -17.2% | 2.20% | -21.8% | |
| New | SALIX PHARMACEUTICALS INCnote 2.750% 5/1 | $2,290,000 | – | 1,500,000 | – | 2.19% | – | |
| New | ASCENT CAP GROUP INCnote 4.000% 7/1 | $2,072,000 | – | 2,000,000 | – | 1.98% | – | |
| New | HOLOGIC INCfrnt 2.000%12/1 | $2,005,000 | – | 2,000,000 | – | 1.91% | – | |
| New | DRYSHIPS INC.note 5.000%12/0 | $1,943,000 | – | 2,000,000 | – | 1.86% | – | |
| Sell | CEMEX SAB DE CVnote 3.250% 3/1 | $1,918,000 | -43.8% | 1,500,000 | -46.4% | 1.83% | -48.5% | |
| New | AMERICAN RLTY CAP PPTYS INCnote 3.000% 8/0 | $1,894,000 | – | 2,000,000 | – | 1.81% | – | |
| New | L-3 COMMUNICATIONS CORPdebt 3.000% 8/0 | $1,635,000 | – | 1,500,000 | – | 1.56% | – | |
| New | DOLLAR FINL CORPnote 3.000% 4/0 | $1,444,000 | – | 1,500,000 | – | 1.38% | – | |
| New | MERRIMACK PHARMACEUTICALS INnote 4.500% 7/1 | $1,356,000 | – | 1,500,000 | – | 1.30% | – | |
| Sell | GREEN PLAINS RENEWABLE ENERGnote 5.750%11/0 | $1,299,000 | -43.7% | 1,000,000 | -50.0% | 1.24% | -48.5% | |
| Buy | CENTRAL EUROPEAN MEDIAnote 5.000%11/1 | $1,246,000 | +30.2% | 1,300,000 | +30.0% | 1.19% | +19.0% | |
| TBF | New | PROSHARES TRshrt 20+yr tre | $1,121,000 | – | 35,000 | – | 1.07% | – |
| New | CADENCE DESIGN SYSTEM INCnote 1.500%12/1 | $1,000,000 | – | 1,000,000 | – | 0.96% | – | |
| NEEPRO | Sell | NEXTERA ENERGY INCunit 09/01/2015 | $927,000 | -38.1% | 17,000 | -37.0% | 0.88% | -43.3% |
| VXX | New | BARCLAYS BK PLCipath s&p500 vix | $59,000 | – | 4,000 | – | 0.06% | – |
| Exit | CHIQUITA BRANDS INTL INCnote 4.250% 8/1 | $0 | – | -750,000 | – | -0.75% | – | |
| Exit | ROYAL GOLD INCnote 2.875% 6/1 | $0 | – | -1,000,000 | – | -0.95% | – | |
| Exit | RTI INTL METALS INCnote 1.625%10/1 | $0 | – | -1,000,000 | – | -0.98% | – | |
| Exit | AMTRUST FINANCIAL SERVICES Inote 5.500%12/1 | $0 | – | -1,000,000 | – | -1.45% | – | |
| WFCPRL | Exit | WELLS FARGO & CO NEWperp pfd cnv a | $0 | – | -1,500 | – | -1.87% | – |
| Exit | VOLCANO CORPORATIONnote 1.750%12/0 | $0 | – | -2,000,000 | – | -1.90% | – | |
| HBANP | Exit | HUNTINGTON BANCSHARES INCpfd conv ser a | $0 | – | -1,500 | – | -1.92% | – |
| Exit | COVANTA HLDG CORPnote 3.250% 6/0 | $0 | – | -1,500,000 | – | -2.02% | – | |
| Exit | FIDELITY NATIONAL FINANCIALnote 4.250% 8/1 | $0 | – | -1,500,000 | – | -2.06% | – | |
| Exit | GOODRICH PETE CORPnote 5.000%10/0 | $0 | – | -2,000,000 | – | -2.07% | – | |
| Exit | ANNALY CAP MGMT INCnote 4.000% 2/1 | $0 | – | -1,800,000 | – | -2.10% | – | |
| Exit | JAKKS PAC INCnote 4.500%11/0 | $0 | – | -2,000,000 | – | -2.12% | – | |
| Exit | AUXILIUM PHARMACEUTICALS INCnote 1.500% 7/1 | $0 | – | -2,250,000 | – | -2.27% | – | |
| TBT | Exit | PROSHARES TR | $0 | – | -37,124 | – | -2.81% | – |
| Exit | NATIONAL FINL PARTNERS CORPnote 4.000% 6/1 | $0 | – | -1,400,000 | – | -2.98% | – | |
| Exit | HERTZ GLOBAL HOLDINGS INCnote 5.250% 6/0 | $0 | – | -1,000,000 | – | -3.13% | – | |
| Exit | PDL BIOPHARMA INCnote 3.750% 5/0 | $0 | – | -2,500,000 | – | -3.23% | – | |
| Exit | AFFORDABLE RESIDENTIAL CMNTYnote 7.500% 8/1 | $0 | – | -2,500,000 | – | -3.30% | – | |
| Exit | SBA COMMUNICATIONS CORPnote 4.000%10/0 | $0 | – | -1,400,000 | – | -3.59% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| New | MYLAN INCnote 3.750% 9/1 | $4,504,000 | – | 1,900,000 | – | 4.70% | – | |
| New | CUBIST PHARMACEUTICALS INCnote 2.500%11/0 | $3,861,000 | – | 2,200,000 | – | 4.03% | – | |
| New | ENPRO INDS INCdbcv 3.938%10/1 | $3,764,000 | – | 2,375,000 | – | 3.93% | – | |
| New | SBA COMMUNICATIONS CORPnote 4.000%10/0 | $3,437,000 | – | 1,400,000 | – | 3.59% | – | |
| New | CEMEX SAB DE CVnote 3.250% 3/1 | $3,410,000 | – | 2,800,000 | – | 3.56% | – | |
| CWB | New | SPDR SERIES TRUSTbrc cnv secs etf | $3,361,000 | – | 78,750 | – | 3.51% | – |
| New | VIROPHARMA INCnote 2.000% 3/1 | $3,281,000 | – | 2,000,000 | – | 3.42% | – | |
| New | AFFORDABLE RESIDENTIAL CMNTYnote 7.500% 8/1 | $3,163,000 | – | 2,500,000 | – | 3.30% | – | |
| New | PDL BIOPHARMA INCnote 3.750% 5/0 | $3,092,000 | – | 2,500,000 | – | 3.23% | – | |
| New | HERTZ GLOBAL HOLDINGS INCnote 5.250% 6/0 | $3,004,000 | – | 1,000,000 | – | 3.13% | – | |
| New | ENERSYSnote 3.375% 6/0 | $2,911,000 | – | 2,200,000 | – | 3.04% | – | |
| New | UNITED THERAPEUTICS CORP DELnote 1.000% 9/1 | $2,906,000 | – | 2,000,000 | – | 3.03% | – | |
| New | NATIONAL FINL PARTNERS CORPnote 4.000% 6/1 | $2,852,000 | – | 1,400,000 | – | 2.98% | – | |
| New | OMNICARE INCnote 3.750%12/1 | $2,779,000 | – | 1,500,000 | – | 2.90% | – | |
| New | ENCORE CAP GROUP INCnote 3.000%11/2 | $2,761,000 | – | 2,250,000 | – | 2.88% | – | |
| New | WEBMD HEALTH CORPnote 2.500% 1/3 | $2,697,000 | – | 2,900,000 | – | 2.81% | – | |
| TBT | New | PROSHARES TR | $2,689,000 | – | 37,124 | – | 2.81% | – |
| New | GREEN PLAINS RENEWABLE ENERGnote 5.750%11/0 | $2,309,000 | – | 2,000,000 | – | 2.41% | – | |
| New | AUXILIUM PHARMACEUTICALS INCnote 1.500% 7/1 | $2,174,000 | – | 2,250,000 | – | 2.27% | – | |
| New | JAKKS PAC INCnote 4.500%11/0 | $2,032,000 | – | 2,000,000 | – | 2.12% | – | |
| New | ANNALY CAP MGMT INCnote 4.000% 2/1 | $2,012,000 | – | 1,800,000 | – | 2.10% | – | |
| New | GOODRICH PETE CORPnote 5.000%10/0 | $1,983,000 | – | 2,000,000 | – | 2.07% | – | |
| New | FIDELITY NATIONAL FINANCIALnote 4.250% 8/1 | $1,975,000 | – | 1,500,000 | – | 2.06% | – | |
| New | CADENCE DESIGN SYSTEM INCnote 2.625% 6/0 | $1,943,000 | – | 1,000,000 | – | 2.03% | – | |
| New | COVANTA HLDG CORPnote 3.250% 6/0 | $1,941,000 | – | 1,500,000 | – | 2.02% | – | |
| HBANP | New | HUNTINGTON BANCSHARES INCpfd conv ser a | $1,838,000 | – | 1,500 | – | 1.92% | – |
| New | VOLCANO CORPORATIONnote 1.750%12/0 | $1,823,000 | – | 2,000,000 | – | 1.90% | – | |
| WFCPRL | New | WELLS FARGO & CO NEWperp pfd cnv a | $1,791,000 | – | 1,500 | – | 1.87% | – |
| New | INTERMUNE INCnote 2.500% 9/1 | $1,644,000 | – | 2,000,000 | – | 1.72% | – | |
| NEEPRO | New | NEXTERA ENERGY INCunit 09/01/2015 | $1,497,000 | – | 27,000 | – | 1.56% | – |
| New | ICONIX BRAND GROUP INCnote 2.500% 6/0 | $1,425,000 | – | 1,250,000 | – | 1.49% | – | |
| New | AMTRUST FINANCIAL SERVICES Inote 5.500%12/1 | $1,390,000 | – | 1,000,000 | – | 1.45% | – | |
| MTCN | New | ARCELORMITTAL SA LUXEMBOURGmand cv nt 16 | $1,389,000 | – | 74,000 | – | 1.45% | – |
| New | TELEFLEX INCnote 3.875% 8/0 | $1,350,000 | – | 1,000,000 | – | 1.41% | – | |
| New | MICRON TECHNOLOGY INCdebt 1.875% 6/0 | $1,338,000 | – | 1,000,000 | – | 1.40% | – | |
| New | ENDO HEALTH SOLUTIONS INCnote 1.750% 4/1 | $1,335,000 | – | 1,000,000 | – | 1.39% | – | |
| XLU | New | SELECT SECTOR SPDR TRsbi int-utils | $1,317,000 | – | 35,000 | – | 1.37% | – |
| New | GROUP 1 AUTOMOTIVE INCfrnt 2.250% 6/1 | $1,196,000 | – | 1,000,000 | – | 1.25% | – | |
| New | DEVELOPERS DIVERSIFIED RLTYnote 1.750%11/1 | $1,169,000 | – | 1,000,000 | – | 1.22% | – | |
| New | STERLITE INDS INDIA LTDnote 4.000%10/3 | $971,000 | – | 1,000,000 | – | 1.01% | – | |
| New | CENTRAL EUROPEAN MEDIAnote 5.000%11/1 | $957,000 | – | 1,000,000 | – | 1.00% | – | |
| New | RTI INTL METALS INCnote 1.625%10/1 | $943,000 | – | 1,000,000 | – | 0.98% | – | |
| New | ROYAL GOLD INCnote 2.875% 6/1 | $909,000 | – | 1,000,000 | – | 0.95% | – | |
| New | CHIQUITA BRANDS INTL INCnote 4.250% 8/1 | $718,000 | – | 750,000 | – | 0.75% | – |