Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The Portfolios investment goals are high current income and, secondarily, capital appreciation.
Strategy. The Portfolio attempts to achieve its goal by investing, under normal circumstances, at least 80% of its net assets in intermediate and long-term corporate obligations, emphasizing high-yield, high-risk fixed income securities (junk bonds) with a primary focus on B rated high-yield securities. In addition to junk bonds, the Portfolio may invest in other fixed income securities, primarily loans, convertible bonds, preferred stocks and zero coupon and deferred interest bonds. To a lesser extent, the Portfolio also may invest in U.S. government securities, investment grade bonds and pay-in-kind bonds. The Portfolio may invest in foreign securities and may make short-term investments. The Portfolio may engage in frequent trading of portfolio securities to achieve its investment goal. The Portfolio attempts to achieve its goal by investing, under normal circumstances, at least 80% of its net assets in intermediate and long-term corporate obligations, emphasizing high-yield, high-risk fixed income securities (junk bonds) with a primary focus on B rated high-yield securities. In addition to junk bonds, the Portfolio may invest in other fixed income securities, primarily loans, convertible bonds, preferred stocks and zero coupon and deferred interest bonds. To a lesser extent, the Portfolio also may invest in U.S. government securities, investment grade bonds and pay-in-kind bonds. The Portfolio may invest in foreign securities and may make short-term investments. The Portfolio may engage in frequent trading of portfolio securities to achieve its investment goal.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| State Street Navigator Securities Lending Portfolio II | GVMXX | $6.90M | 2.84% |
| Venture Global LNG Inc | — | $2.59M | 1.07% |
| ALBERTSONS COS/SAFEWAY SR UNSECURED 144A 03/34 5.75 | ACI | $2.30M | 0.95% |
| NCL Corp. Ltd. | — | $2.22M | 0.92% |
| HARVEST MIDSTREAM I LP SR UNSECURED 144A 09/28 7.5 | HARMID | $1.99M | 0.82% |
| NLSN 9.29% Secured Nts due 2029 144A | NLSN | $1.95M | 0.80% |
| ITT HOLDINGS LLC SR UNSECURED 144A 08/29 6.5 | INTMAT | $1.86M | 0.77% |
| XPLR INFRASTRUCTURE OPERATING SR UNSECURED 144A 01/29 7.25 | XIFR | $1.85M | 0.76% |
| HILTON GRAND VAC LLC/INC REGD 144A P/P 4.87500000 | HGVLLC | $1.70M | 0.70% |
| SIRIUS XM RADIO LLC REGD 144A P/P 4.00000000 | SIRI | $1.68M | 0.69% |
Portfolio moves
Jan 31, 2026 → Apr 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| High Yield Fund · THYUX | 71% | 0.82% |
| Dunham High Yield Bond Fund · DAHYX, DCHYX, DNHYX | 68% | 1.11% |
| Transamerica Strategic Income · TUNAX, TUNIX, TUNRX | 23% | 0.63% |
Advisers
| Firm | Role |
|---|---|
| PineBridge Investments LLC | Sub-adviser |
| SunAmerica Asset Management, LLC | Adviser |
Footnotes
- Net assets and holdings count as of April 30, 2026, from the fund's N-PORT filing.
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