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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21654
Pioneer Floating Rate Trust
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Terrence J Cullen, Pioneer Investment Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 742-7825
Date of fiscal year end: November 30
Date of reporting period: August 31, 2010
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5under
the Investment Company Act of 1940 (17 CFR 270.30b-5). The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609. The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. Schedule of Investments.
Principal
Amount Value
USD ($)
COLLATERALIZED LOAN OBLIGATIONS - 1.6% of Net Assets
Banks - 1.6%
Diversified Banks - 0.5%
1,000,000(a,b,c Primus, Ltd., 2007-2A D, 2.926%, 7/15/21 (144A) 148,580
1,000,000(a)(b) Rampart, Ltd., 2006-1A, 4.075%, 4/18/21 (144A) 528,120
951,289 (a)(b) Stanfield McLaren, Ltd., 2007-1A B2L, 4.804%, 2/27/21 634,481
1,311,181
Thrifts & Mortgage Finance - 1.1%
1,000,000(a)(b) ACA, Ltd. 2007-1A D, 2.876%, 6/15/22 (144A) 565,120
1,000,000(a)(b) Goldman Sachs Asset Mgmt., Plc, 2007-1A D, 3.216%, 8/1 586,870
1,000,000(a)(b) Gulf Stream Sextant, Ltd., 2007-1A D, 2.939%, 6/17/21 575,030
1,000,000(a)(b) Landmark CDO, Ltd., 2007-9A E, 4.026%, 4/15/21 (144A) 504,560
2,000,000(a)(b) Stone Tower, Ltd., 2007-6A C, 1.875%, 4/17/21 (144A) 1,040,000
3,271,580
Total Banks 4,582,761
TOTAL COLLATERALIZED LOAN OBLIGATIONS
(Cost $6,347,281) 4,582,761
SENIOR SECURED 2nd INTERESTS - 137.6% of Net Assets*
Energy - 3.4%
Integrated Oil & Gas - 0.6%
1,800,000 Big West Oil LLC, Term Loan, 12.0%, 7/23/15 1,828,499
Oil & Gas Drilling - 0.5%
960,454 (a,d,e) TARH E&P Hldgs., L.P., 1st Lien 2nd Out Credit Facilit 960,454
398,311 (a,d,e) TARH E&P Hldgs., L.P., 2nd Lien Term Loan, 14.0%, 6/29 378,396
1,338,850
Oil & Gas Equipment & Services - 0.9%
2,643,375 Aquilex Hldgs. LLC, Term Loan, 5.5%, 4/1/16 2,641,173
Oil & Gas Exploration & Production - 1.1%
1,891,160(a,c,e)Crusader Energy Group, Inc., 2nd Lien Term Loan, 12.0% 0
1,322,387 Targa Resources, Inc., Term Loan, 5.75%, 7/5/16 1,323,378
1,882,717 Venoco, Inc., 2nd Lien Term Loan, 4.313%, 5/7/14 1,745,044
3,068,422
Oil & Gas Storage & Transportation - 0.3%
1,014,079 Atlas Pipeline Partners, L.P., Term Loan, 7.75%, 7/27/ 1,011,958
Total Energy 9,888,902
Materials - 7.1%
Aluminum - 0.2%
611,364 Noranda Aluminum Acquisition Corp., Term Loan B, 2.047 576,211
Commodity Chemicals - 0.5%
1,492,288 Celanese US Hldgs. LLC, Term Loan, 2.0%, 4/2/14 1,428,442
Construction Materials - 0.5%
1,496,250 Summit Materials Ky Acquisition LLC, Term Loan, 6.75%, 1,464,455
Diversified Chemicals - 0.6%
213,600 Huntsman Intl. LLC, New Dollar Term Loan B, 1.901% - 1 202,085
1,496,250 Solutia, Inc., Term Loan, 4.75%, 3/17/17 1,500,692
1,702,777
Fertilizers & Agricultural Chemicals - 0.6%
1,814,619 CF Industries, Inc., Term Loan B-1, 4.5%, 4/5/15 1,827,971
Metal & Glass Containers - 0.6%
228,571 BWAY Holding Co., Term Loan B, 5.5% - 6.0%, 6/16/17 229,143
720,967 Graham Packaging Co., L.P., Term Loan B., 2.563% - 2.8 720,246
774,786 Graham Packaging Co., L.P., Term Loan C, 6.75%, 4/5/14 781,911
21,429 ICL Industrial Containers ULC, Term Loan C, 4.263%, 6/ 21,482
1,752,782
Paper Packaging - 1.2%
1,780,401 Graphic Packaging Intl., Inc., Incremental TL, 3.276% 1,754,363
1,700,000 Smurfit-Stone Container Enterprises, Inc., Exit Term L 1,710,169
3,464,532
Paper Products - 0.2%
650,000 Exopack Holding Corp., Term Loan, 12.0%, 2/1/14 646,750
Precious Metals & Minerals - 0.2%
625,000 Fairmount Minerals, Ltd., Tranche B Term Loan, 6.75%, 626,432
Specialty Chemicals - 2.5%
3,500,000 Chemtura Corp., DIP Facility Term Loan, 6.0%, 2/11/11 3,497,812
3,000,000 Chemtura Corp., Exit Term Loan B, 5.5%, 8/11/16 3,012,501
742,500 Nalco Co., Term Loan, 6.5%, 5/13/16 746,986
7,257,299
Total Materials
20,747,651
Capital Goods - 6.0%
Aerospace & Defense - 2.8%
1,337,607 BE Aerospace, Inc., Tranche B Term Loan, 5.75%, 7/28/1 1,349,729
757,268 DAE Aviation Hldgs., Inc., Tranche B-1 Term Loan, 4.23 688,168
1,100,000 DynCorp Intl., Inc., Term Loan, 6.25%, 7/7/16 1,094,500
1,666,781 Hunter Defense Technologies, Inc., Term Loan, 3.79%, 8 1,566,774
1,852,90(d) IAP Worldwide Services, Inc., 1st Lien Term Loan, 9.25 1,801,948
735,172 Standard Aero, Ltd., Tranche B-2 Term Loan, 4.14% - 4. 668,088
653,429 TASC, Inc., Tranche A Term Loan, 5.5%, 12/18/14 656,152
323,375 TASC, Inc., Tranche B Term Loan, 5.75%, 12/18/15 324,925
8,150,284
Building Products - 0.4%
1,118,644 Custom Building Products, Inc., Term Loan, 5.75%, 3/19 1,117,246
Construction & Engineering - 0.9%
1,000,000 Goodman Global, Inc., Term Loan, 6.25%, 2/13/14 1,007,292
1,505,630 URS Corp., Tranche B Term Loan, 2.51% - 2.784%, 5/15/1 1,500,916
2,508,208
Construction & Farm Machinery & Heavy Trucks - 1.6%
1,496,313 Bucyrus Intl., Inc., Tranche C U.S. Dollar Term Loan, 1,506,413
2,919,707 Manitowoc Co., Inc., Term Loan B, 8.0%, 11/6/14 2,924,766
417,849 Oshkosh Truck Corp., Term Loan B, 6.44% - 6.54%, 12/6/ 421,636
4,852,815
Electrical Components & Equipment - 0.3%
897,750 Scotsman Industries, Inc., Term Loan, 5.75% - 6.5%, 4/ 894,383
Total Capital Goods
17,522,936
Commercial & Professional Services - 5.9%
Commercial Printing - 1.0%
38,952 Cenveo Corp., DD Term Loan, 5.039%, 6/21/13 38,234
1,364,321 Cenveo Corp., Facility Term Loan C, 5.039%, 6/21/13 1,339,167
1,525,000 John Henry Hldgs., Inc., Effective Date Advance Term L 1,515,469
2,892,870
Diversified Commercial & Professional Services - 1.8%
965,000 Aramark Canada, Ltd., Canadian Term Loan, 2.408%, 1/26 887,800
4,608,006 Cydcor, Inc., 1st Lien Tranche B Term Loan, 9.0%, 2/5/ 4,239,366
5,127,166
Diversified Support Services - 1.7%
879,666 Allied Security Hldgs. LLC, Term Loan, 6.75%, 2/20/15 882,965
1,700,000 InfoGroup, Inc., Term Loan B, 6.25%, 7/1/16 1,695,027
396,923 Iron Mountain, Inc., Initial Term Loan, 1.813%, 4/16/1 396,923
1,990,623 Language Line LLC, Tranche B Term Loan, 5.5%, 11/4/15 1,959,106
4,934,021
Environmental & Facilities Services - 1.1%
1,741,250 Advanced Disposal Services, Inc., Term Loan B, 6.0%, 1 1,747,780
1,094,300 Brickman Group Hldgs., Inc., Tranche B Term Loan, 2.53 1,039,585
420,750 Casella Waste Systems, Inc., Term Loan B, 7.0%, 4/9/14 424,432
3,211,797
Security & Alarm Services - 0.3%
1,000,000 Protection One, Inc., Term Loan, 6.0%, 6/4/16 992,500
Total Commercial & Professional Services
17,158,354
Transportation - 3.8%
Airlines - 1.8%
970,000 Delta Air Lines, Inc., Credit-Linked Deposit Loan, 0.1 932,412
470,303 Delta Air Lines, Inc., 2nd Lien Term Loan, 3.529%, 4/3 435,030
893,250 Delta Air Lines, Inc., Term Loan, 8.75%, 9/27/13 903,857
3,600,000 US Airways Group, Inc., Term Loan, 2.762%, 3/21/14 3,030,430
5,301,729
Air Freight & Couriers - 0.2%
598,500 Ozburn-Hessey Holding Co. LLC, 1st Lien Term Loan, 7.5 604,111
Airport Services - 0.4%
1,186,001 AWAS Capital, Inc., 1st Lien Term Loan, 2.313%, 3/25/1 1,123,736
Marine - 0.4%
1,312,500 Horizon Lines LLC, Term Loan, 3.79%, 8/8/12 1,205,859
Railroads - 0.3%
984,615 Kansas City Southern Railway Co., Advance TL B, 2.02% 957,538
Trucking - 0.7%
387,361 SIRVA Worldwide, Inc., Revolving Credit Loan, 10.53% - 265,342
2,594,42(d) SIRVA Worldwide, Inc., 2nd Lien Term Loan, 12.0%, 5/12 713,467
1,096,86(d) SIRVA Worldwide, Inc., Term Loan, 13.0%, 5/12/12 833,617
1,812,426
Total Transportation
11,005,399
Automobiles & Components - 6.3%
Auto Parts & Equipment - 2.8%
2,902,653 Allison Transmission, Inc., Term Loan, 3.04%, 8/7/14 2,683,659
721,368 Federal-Mogul Corp., Tranche B Term Loan, 2.208% - 2.2 630,038
368,045 Federal-Mogul Corp., Tranche C Term Loan, 2.208% - 2.2 321,448
493,750 HHI Group Hldgs. LLC, Term Loan, 10.5%, 3/30/15 497,453
3,869,129 Key Safety Systems, Inc., 1st Lien Term Loan, 2.51% - 3,448,362
750,000 Tenneco, Inc., Tranche B Term Loan, 5.01%, 6/3/16 748,125
8,329,085
Automobile Manufacturers - 3.0%
8,997,728 Ford Motor Co., Tranche B-1 Term Loan, 3.03%, 12/15/13 8,687,135
Automotive Retail - 0.5%
1,466,617 Pilot Travel Centers LLC, Initial Term Loan B, 5.25%, 1,473,033
Total Automobiles & Components
18,489,253
Consumer Durables & Apparel - 1.4%
Apparel, Accessories & Luxury Goods - 0.6%
921,249 Hanesbrands, Inc., New Term Loan, 5.25%, 12/10/15 931,253
946,309 Phillips-Van Heusen Corp., U.S. Tranche B Term Loan, 4 953,572
1,884,825
Homebuilding - 0.2%
Ginn LA Conduit Lender, Inc., 1st Lien Tranche A
2,369,360 c,d Credit-Linked Deposit Loan, 8.5%, 6/8/11 94,775
5,077,230 c,d Ginn LA Conduit Lender, Inc., 1st Lien Tranche B Term 203,089
1,000,000 a,c,g WAICCS Las Vegas 3 LLC, 1st Lien Term Loan, 7.75%, 7/3 275,000
4,500,000 a,c,g WAICCS Las Vegas 3 LLC, 2nd Lien Term Loan, 13.25%, 7/ 22,504
595,368
Housewares & Specialties - 0.2%
499,436 Jarden Corp., Term Loan B-3, 3.033%, 1/24/12 496,988
Leisure Products - 0.4%
1,242,759 SRAM LLC, Term Loan, 5.0% - 5.5%, 4/30/15 1,239,652
Total Consumer Durables & Apparel 4,216,833
Consumer Services - 6.3%
Casinos & Gaming - 1.3%
5,000,00(a)(c) Fontainebleau Florida Hotel LLC, Tranche C Term Loan, 1,750,000
1,194,000 Harrah's Operating Co., Inc., Term Loan B-4, 9.5%, 10/ 1,222,606
715,085 Penn National Gaming, Inc., Term Loan B, 2.01% - 2.24% 699,709
3,672,315
Education Services - 1.6%
3,906,578 Bright Horizons Family Solutions, Inc., Tranche B Term 3,914,250
997,436 Cengage Learning Acquisitions, Inc., Term Loan, 3.03%, 887,832
4,802,082
Hotels, Resorts & Cruise Lines - 0.4%
1,175,564 Yellowstone Mountain Club LLC, Senior 1st Lien Term Lo 1,163,808
Leisure Facilities - 1.1%
1,750,000 Cedar Fair, L.P., U.S. Term Loan, 5.5%, 12/15/16 1,760,528
1,486,861 Universal City Development Partners, Ltd., Term Loan, 1,492,121
3,252,649
Restaurants - 0.2%
500,000 Wendy's/Arby's Restaurants LLC, Term Loan, 5.0%, 5/24/ 501,687
Specialized Consumer Services - 1.7%
1,017,765 Adesa, Inc., Initial Term Loan, 3.02%, 10/21/13 983,415
3,890,223 Web Service Co. LLC, Term Loan, 7.0%, 8/28/14 3,846,458
4,829,873
Total Consumer Services
18,222,414
Media - 29.9%
Advertising - 2.4%
1,496,250 Advantage Sales & Marketing LLC, 1st Lien Term Loan, 5 1,489,002
3,491,250 Affinion Group, Inc., Tranche B Term Loan, 5.0%, 10/9/ 3,372,331
1,995,000 Lamar Media Corp., Term Loan B, 4.25%, 12/30/16 2,007,948
6,869,281
Broadcasting - 9.1%
1,339,302 FoxCo Acquisition Sub LLC, Term Loan, 7.5%, 7/14/15 1,295,357
16,466,037 SMG H5 Pty, Ltd., Facility Term Loan A, 7.04% - 7.432%
13,551,223
1,304,193 TWCC Holding Corp., Replacement Term Loan, 5.0%, 9/14/ 1,306,965
10,975,711 Univision Communications, Inc., Initial Term Loan, 2.5 9,471,358
836,206 (a) Young Broadcasting Holding Co. Inc., Term Loan, 8.0%, 802,758
26,427,661
Cable & Satellite - 13.5%
Amsterdamse Beheer-EN Consultingmaatschappij B.V., :
752,152 Casema Facility Term Loan B-1, 3.375%, 9/15/14 932,236
390,705 Casema Facility Term Loan B-2, 3.375%, 9/15/14 484,250
1,065,140 Casema Facility Term Loan C, 4.125%, 9/14/15 1,320,161
857,143 Kabelcom Facility Term Loan B, 3.375%, 9/15/14 1,062,364
798,855 Kabelcom Facility Term Loan C, 4.125%, 9/14/15 990,121
19,591,600(a,c,d)BroadStripe LLC, 1st Lien Term Loan, 9.25%, 6/30/11 9,795,837
1,428,200(a,c,d) BroadStripe LLC, Revolver Credit Loan, 8.87% - 11.42%, 714,102
7,731,809 Cequel Communications LLC, Term Loan, 2.295%, 11/5/13 7,457,415
538,744 Charter Communications Operating LLC, Term Loan B-1, 2 511,538
4,373,543 Charter Communications Operating LLC, Term Loan C, 3.7 4,193,917
5,879,201 Knology, Inc., Term Loan, 2.562%, 6/30/12 5,644,033
2,000,000 MCC Iowa LLC, Tranche F Term Loan, 4.5%, 10/23/17 1,909,376
4,789,98 WideOpenWest Finance LLC, 1st Lien Term Loan, 2.793% - 4,427,738
39,443,088
Movies & Entertainment - 3.9%
2,380,607 Alpha Topco, Ltd., Facility Term Loan B-1, 2.424%, 12/ 2,186,911
1,608,032 Alpha Topco, Ltd., Facility Term Loan B-2, 2.424%, 12/ 1,477,196
1,379,292 Carmike Cinemas, Inc., Initial Term Loan, 5.5%, 1/27/1 1,378,800
1,929,998 Cinedigm Digital Funding I LLC, Term Loan, 5.25%, 4/29 1,914,317
1,347,989 Lodgenet Entertainment Corp., Closing Date Term Loan, 1,243,520
7,734,04(c) Metro-Goldwyn-Mayer, Inc., Tranche B Term Loan, 20.5%, 3,317,047
11,517,791
Publishing - 1.0%
885,000 Interactive Data Corp., Term Loan, 6.75%, 1/29/17 892,744
891,129 Mediannuaire Holding, Term Loan B-2, 2.968%, 10/10/14 805,680
890,707 Mediannuaire Holding, Term Loan C, 3.468%, 10/9/15 803,754
468,208 R.H. Donnelley, Inc., Term Loan, 9.0%, 10/24/14 403,595
2,905,773
Total Media
87,163,594
Retailing - 3.5%
Automotive Retail - 0.2%
500,000 AutoTrader.com, Inc., Tranche B Term Loan, 6.0%, 6/14/ 501,562
General Merchandise Stores - 2.4%
2,841,135 Dollar General Corp., Tranche B-1 Term Loan, 3.01% - 3 2,771,877
4,268,478 Dollar General Corp., Tranche B-2 Term Loan, 3.01% - 3 4,125,753
6,897,630
Specialty Stores - 0.9%
967,414 Sally Hldgs. LLC, Term Loan B, 2.51%, 11/16/13 940,637
1,745,625 Savers, Inc., Term Loan, 5.75%, 3/11/16 1,754,353
2,694,990
Total Retailing
10,094,182
Food & Staples Retailing - 2.0%
Food Retail - 2.0%
1,333,125 Bi-Lo LLC, Facility Term Loan, 9.5%, 5/12/15 1,333,958
4,794,773 Pinnacle Foods Finance LLC, Term Loan, 2.812%, 4/2/14 4,564,025
5,897,983
Total Food & Staples Retailing 5,897,983
Food, Beverage & Tobacco - 2.2%
Agricultural Products - 0.5%
1,496,250 Wm. Bolthouse Farms, Inc., 1st Lien Term Loan, 5.5%, 2 1,495,307
Distillers & Vintners - 0.4%
363,391 Constellation Brands, Inc., Extending Tranche B Term L 354,381
736,609 Constellation Brands, Inc., Non-Extending Tranche B Te 734,307
1,088,688
Packaged Foods & Meats - 1.3%
987,245 Dean Foods Co., Tranche B Term Loan, 1.915%, 4/2/14 940,351
211,235 Dole Food Co., Inc., Tranche B-1 Term Loan, 5.0% - 5.5 212,367
524,656 Dole, Ltd., Tranche C-1 Term Loan, 5.0% - 5.5%, 3/2/17 527,466
1,650,000 Michael Foods Group, Inc., Term Loan B, 6.25%, 6/29/16 1,657,072
487,500 Pierre Foods, Inc., Term Loan, 7.0% - 7.25%, 3/3/16 487,399
3,824,655
Total Food, Beverage & Tobacco 6,408,650
Household & Personal Products - 3.8%
Household Products - 2.7%
1,691,500 Diversey Hldgs., Inc., Tranche B Dollar Term Loan, 5.5 1,701,015
1,000,000 Reynolds Group Hldgs., Inc., U.S. Incremental Term Loa 998,500
1,391,250 Reynolds Group Hldgs., Inc., U.S. Term Loan, 6.25%, 5/ 1,389,163
2,900,000 Spectrum Brands, Inc., Term Loan, 8.0%, 6/16/16 2,937,158
1,032,009 Yankee Candle Co., Inc., Term Loan, 2.27%, 2/6/14 986,155
8,011,991
Personal Products - 1.1%
972,431 (a) Appleseed's Intermediate Hldgs., Inc., 1st Lien Term L 656,391
2,493,750 Revlon Consumer Products Corp., Term Loan, 6.0%, 3/11/ 2,476,384
3,132,775
Total Household & Personal Products
11,144,766
Health Care Equipment & Services - 14.3%
Health Care Equipment & Services - 2.0%
710,714 Fenwal, Inc., 1st Lien DD Term Loan, 2.51% - 2.549%, 2 616,545
4,146,429 Fenwal, Inc., Initial 1st Lien Term Loan, 2.51% - 2.54 3,597,027
237,216 Fresenius SE, Tranche C-1 Dollar Term Loan, 4.5%, 9/10 238,625
135,504 Fresenius SE, Tranche C-2 Term Loan, 4.5%, 9/10/14 136,309
1,250,000 Ikaria Acquisition, Inc., Term Loan, 7.0%, 5/14/16 1,207,031
5,795,537
Health Care Facilities - 5.0%
2,394,000 Ardent Medical Services, Inc., Term Loan, 6.5%, 9/15/1 2,342,381
56,563 CHS/Community Health Systems, Inc., DD Term Loan, 2.54 53,442
1,102,459 CHS/Community Health Systems, Inc., Term Loan, 2.549%, 1,041,633
248,705 Hanger Orthopedic Group, Inc., Tranche B Term Loan, 2. 242,176
2,698,472 HCA, Inc., Tranche B-1 Term Loan, 2.783%, 11/18/13 2,603,559
6,471,473 HCA, Inc., Tranche B-2 Term Loan, 3.783%, 3/31/17 6,278,843
271,508 Psychiatric Solutions, Inc., Term Loan, 2.058% - 2.277 269,980
375,000 Renal Advantage Hldgs., Inc., Tranche B Term Loan, 6.0 376,172
1,265,000 Universal Health Services, Inc., Tranche B Term Loan, 1,264,695
14,472,881
Health Care Services - 5.6%
746,250 Alliance HealthCare Services, Initial Term Loan, 5.5%, 735,989
1,492,500 Butler Animal Health Supply LLC, Term Loan, 5.5%%, 12/ 1,494,366
2,255,185 CCS Medical, Inc., 1st Lien Term Loan, 9.0%, 3/31/15 1,939,459
766,930 CCS Medical, Inc., 2nd Lien Term Loan, 11.0%, 3/31/16 508,091
3,000,000 Gentiva Health Services, Inc., Borrowing Term Loan B, 2,962,500
2,908,397 LifeCare Hldgs., Term Loan, 4.73%, 8/10/12 2,704,809
1,016,39(c)(d) Medical Staffing Network, Inc., 2nd Lien Term Loan, 13 355,739
2,992,500 Prime Healthcare Services, Inc., Term Loan B, 7.25%, 4 2,917,687
1,782,400 RehabCare Group, Inc., Term Loan B, 6.0%, 11/24/15 1,767,250
995,000 Rural/Metro Operating Co. LLC, Term Loan, 7.0%, 12/9/1 1,001,219
16,387,109
Health Care Supplies - 1.7%
463,703 Bausch & Lomb, Inc., DD Term Loan, 3.51%, 4/24/15 445,418
1,914,539 Bausch & Lomb, Inc., Parent Term Loan, 3.51% - 3.783%, 1,839,045
2,808,788 Biomet, Inc., Dollar Term Loan, 3.26% - 3.538%, 3/25/1 2,720,693
5,005,156
Total Health Care Equipment & Services
40,453,652
Pharmaceuticals & Biotechnology & Life Sciences - 4.4%
Biotechnology - 1.3%
1,302,198 Generic Drug Hldgs., Inc., Closing Date Term Loan, 6.5 1,259,876
179,052 Generic Drug Hldgs., Inc., DD Term Loan, 6.5%, 4/8/16 173,233
685,932 Warner Chilcott Co. LLC, Term Loan A, 6.0%, 10/30/14 686,395
538,191 Warner Chilcott Co. LLC, Term Loan B-2, 6.25%, 4/30/15 538,466
122,549 Warner Chilcott Co. LLC, Term Loan B-4, 6.5%, 2/22/16 123,213
363,175 Warner Chilcott Corp., Additional Term Loan, 6.25%, 4/ 365,293
323,203 Warner Chilcott Corp., Term Loan B-1, 6.25%, 4/30/15 323,421
377,451 Warner Chilcott Luxco S.A.R.L., Term Loan B-3, 6.5%, 2 377,816
3,847,713
Life Sciences Tools & Services - 1.1%
670,000 inVentiv Health, Inc., Term Loan B, 6.5%, 8/4/16 670,000
550,000 Wyle Services Corp., 2010 Incremental Term Loan, 8.0%, 541,750
1,945,125 Wyle Services Corp., Term Loan, 6.0%, 3/28/16 1,939,655
3,151,405
Pharmaceuticals - 2.0%
2,086,975 Graceway Pharmaceuticals LLC, Mezzanine Loan, 10.01%, 208,698
5,609,911 Mylan, Inc., U.S. Tranche B Term Loan, 3.563% - 3.813% 5,593,081
5,801,779
Total Pharmaceuticals & Biotechnology & Life Sciences
12,800,897
Diversified Financials - 2.2%
Consumer Finance - 0.8%
2,500,000 AGFS Funding Co., Term Loan, 7.25%, 4/21/15 2,478,125
Investment Banking & Brokerage - 0.1%
324,188 LPL Hldgs., Inc., 2017 Term Loan, 5.25%, 6/28/17 322,567
Specialized Finance - 1.3%
1,801,225 Collect Acquisition Corp., Advance Term Loan B, 7.5%, 1,711,164
1,995,000 MSCI, Inc., Term Loan, 4.75%, 6/1/16 2,005,390
3,716,554
Total Diversified Financials 6,517,246
Insurance - 1.8%
Insurance Brokers - 1.7%
843,625 HUB Intl., Ltd., Additional Term Loan, 6.75%, 6/13/14 832,025
857,559 HUB Intl., Ltd., DD Term Loan, 3.033%, 6/13/14 798,602
3,109,903 HUB Intl., Ltd., Initial Term Loan, 3.033%, 6/13/14 2,896,097
496,250 USI Hldgs. Corp., New Term Loan Series C, 7.0%, 5/5/14 480,948
5,007,672
Multi-Line Insurance - 0.1%
232,565 AMWINS Group, Inc., Initial Term Loan, 2.8% - 3.04%, 6 215,995
Total Insurance 5,223,667
Real Estate - 2.0%
Diversified Real Estate Investment Trust - 1.5%
5,000,000 Spirit Finance Corp., Term Loan, 3.466%, 8/1/13 4,496,875
Specialized Real Estate Investment Trust - 0.5%
1,000,000 Hargray Acquisition Co., 2nd Lien Term Loan, 5.924%, 1 938,335
500,000 MPT Operating Partnership, L.P., Term Loan, 5.0%, 5/17 495,000
1,433,335
Total Real Estate 5,930,210
Software & Services - 14.5%
Application Software - 2.4%
1,593,935 Nuance Communications, Inc., Term Loan, 2.02%, 3/29/13 1,537,151
3,509,527 Serena Software, Inc., Term Loan, 2.537%, 3/11/13 3,351,598
897,283 Verint Systems, Inc., Term Loan, 5.25%, 5/25/14 865,317
1,275,000 Vertafore, Inc., Term Loan, 6.75%, 7/29/16 1,271,653
7,025,719
Data Processing & Outsourced Services - 0.9%
500,000 Fidelity National Information Services, Inc., Term Loa 487,500
948,522 First Data Corp., Initial Tranche B-2 Term Loan, 3.01% 811,521
1,182,892 Lender Processing Services, Inc., Term Loan B, 2.759%, 1,179,441
2,478,462
Internet Software & Services - 0.7%
2,000,000 Savvis Communications Corp., Term Loan, 6.75%, 8/4/16 1,980,500
IT Consulting & Other Services - 4.1%
937,886 Activant Solutions, Inc., Term Loan, 2.563%, 5/2/13 888,647
225,000 Intergraph Corp., Incremental Term Loan B-1, 6% - 6.25 225,420
4,471,157 Keane Intl., Inc., Closing Date Term Loan, 2.55%, 6/4/ 4,079,931
348,837 Keane Intl., Inc., Synthetic LC Loan, 2.665%, 6/4/13 318,314
4,912,500 SunGard Data Systems, Inc., Incremental Term Loan, 6.7 4,933,555
1,664,191 SunGard Data Systems, Inc., Tranche A U.S. Term Loan, 1,593,463
12,039,330
Systems Software - 6.4%
1,218,750 Allen Systems Group, Inc., 1st Lien Term Loan, 8.5%, 1 1,219,131
2,314,771 Applied Systems, Inc., Term Loan, 2.76%, 9/26/13 2,146,951
2,530,907 Dealer Computer Services, Inc., Term Loan, 5.25%, 4/21 2,512,441
2,312,494 Infor Enterprise Solutions Hldgs., Inc., DD Term Loan, 2,115,932
2,910,000 Infor Enterprise Solutions Hldgs., Inc., 1st Lien Tran 2,589,900
4,432,280 Infor Enterprise Solutions Hldgs., Inc., Initial U.S. 4,055,536
1,466,667 Infor Enterprise Solutions Hldgs., Inc., 2nd Lien DD T 946,000
2,533,333 Infor Enterprise Solutions Hldgs., Inc., 2nd Lien Init 1,963,333
274,313 Telcordia Technologies, Inc., Term Loan, 6.75%, 4/30/1 275,113
940,911 Vangent, Inc., Term Loan, 2.32%, 2/14/13 896,218
18,720,555
Total Software & Services
42,244,566
Technology Hardware & Equipment - 3.2%
Communications Equipment - 0.8%
722,062 CommScope, Inc., Term Loan B, 2.76% - 3.033%, 12/26/14 711,593
1,492,500 TowerCo Finance LLC, Term Loan, 6.0%, 11/24/14 1,496,231
2,207,824
Electronic Components - 0.5%
36,100 Flextronics Intl., Ltd., A-1-B DD Loan, 2.51%, 10/1/14 33,964
1,148,710 Flextronics Intl., Ltd., A-3 DD Loan, 2.509%, 10/1/14 1,078,352
500,000 Generac Acquisition Corp., 1st Lien Term Loan, 2.759% 462,500
1,574,816
Electronic Equipment & Instruments - 0.9%
1,017,958 Itron, Inc., Dollar Term Loan, 3.77%, 4/18/14 1,017,534
1,543,513 Scitor Corp., Term Loan, 4.51%, 9/26/14 1,516,501
2,534,035
Electronic Manufacturing Services - 1.0%
1,610,713 Baldor Electric Co., Term Loan, 5.25% - 5.5%, 1/31/14 1,616,753
749,889 FCI USA, Inc., Facility Term Loan B-1, 3.906%, 11/1/13 701,146
749,889 FCI USA, Inc., Facility Term Loan B-5-B, 3.906%, 11/1/ 701,146
3,019,045
Total Technology Hardware & Equipment 9,335,720
Semiconductors & Semiconductor Equipment - 0.7%
Semiconductor Equipment - 0.2%
486,250 Aeroflex, Inc., Tranche B-2 Term Loan, 4.125%, 8/15/14 459,506
Semiconductors - 0.5%
1,500,000 Intersil Corp., Term Loan, 4.75%, 4/27/16 1,503,937
Total Semiconductors & Semiconductor Equipment 1,963,443
Telecommunication Services - 7.5%
Alternative Carriers - 2.0%
6,500,000 Level 3 Financing, Inc., Tranche A Term Loan, 2.529% - 5,843,909
Integrated Telecommunication Services - 3.5%
1,645,875 Cincinnati Bell, Inc., Tranche B Term Loan, 6.5%, 6/11 1,638,674
1,296,750 Securus Technologies, Inc., Term Loan, 8.0%, 10/31/14 1,306,476
3,962,795 Telesat Canada, U.S. Term I Loan, 3.27%, 10/31/14 3,841,708
340,379 Telesat Canada, U.S. Term II Loan, 3.27%, 10/31/14 329,979
744,216 Time Warner Telecom Hldgs., Inc., Term Loan B, 2.02%, 720,957
1,276,778 West Corp., Term Loan B-2, 2.635% - 2.647%, 10/24/13 1,223,882
1,171,983 Windstream Corp., Tranche B-2 Term Loan, 3.02% - 3.28% 1,139,021
10,200,697
Wireless Telecommunication Services - 2.1%
518,921 MetroPCS Wireless, Inc., Tranche B-1 Term Loan, 2.563% 506,164
5,653,440 MetroPCS Wireless, Inc., Tranche B-2 Term Loan, 3.813% 5,563,878
6,070,042
Total Telecommunication Services
22,114,648
Utilities - 5.3%
Electric Utilities - 4.5%
1,754,777 Coleto Creek Power, L.P., 1st Lien Synthetic LC Term L 1,585,441
3,269,666 Coleto Creek Power, L.P., 1st Lien Term Loan, 3.01% - 2,954,143
4,800,000 Coleto Creek Power, L.P., 2nd Lien Term Loan, 4.26%, 6 3,864,000
881,057 (a,d,e) GBGH LLC, 1st Lien Term Loan, 4.0%, 6/9/13 309,639
299,545 (a,d,e) GBGH LLC, 2nd Lien Term Loan, 12.0%, 6/9/14 2,995
Texas Competitive Electric Hldgs. Co. LLC, Initial
5,756,872 Tranche B-2 Term Loan, 3.793% - 4.066%, 10/10/14 4,384,578
13,100,796
Independent Power Producers & Energy Traders - 0.8%
1,344,900 Calpine Corp., First Priority Term Loan, 3.415%, 3/29/ 1,288,396
275,941 Mach Gen LLC, 1st Lien Synthetic LC Loan, 0.283%, 2/22 259,384
273,514 NRG Energy, Inc., Credit-Linked Deposit Loan, 2.183%, 268,044
413,112 NRG Energy, Inc., Term Loan, 2.283%, 2/1/13 404,850
2,220,674
Total Utilities
15,321,470
TOTAL SENIOR SECURED 2nd INTERESTS
(Cost $461,479,313)
401,073,467
CLAIMS - 0.0% of Net Assets
Capital Goods - 0.0%
Aerospace & Defense - 0.0%
1,200,00(a,e,f) Northwest Airlines, Inc., ALPA Claim-Escrow, 2.5% 826
2,500,00(a,e,f) Northwest Airlines, Inc., Bell Atlantic Claim-Escrow, 1,720
2,500,00(a,e,f) Northwest Airlines, Inc., EDC Claim-Escrow, 5.32% 1,720
2,130,60(a,e,f) Northwest Airlines, Inc., Flight Attendant Claim-Escro 1,466
1,500,00(a,e,f) Northwest Airlines, Inc., GE Claim-Escrow, 2.5% 1,032
1,264,50(a,e,f) Northwest Airlines, Inc., IAM Claim-Escrow, 2.5% 870
1,404,90(a,e,f) Northwest Airlines, Inc., Retiree Claim-Escrow, 2.5% 966
Total Capital Goods 8,600
Retailing - 0.0%
Distributors - 0.0%
14,944,7(a,d,e) Home Interiors & Gifts, Inc., Proof of Claims, 8.02%, 0
Total Retailing 0
TOTAL CLAIMS
(Cost $0) 8,600
CORPORATE NOTES - 14.6% of Net Assets
Energy - 1.1%
Oil & Gas Drilling - 0.2%
600,000 Offshore Group Investments, Ltd., 11.5%, 8/1/15 (144A) 598,500
Oil & Gas Exploration & Production - 0.9%
2,490,000 Denbury Resources, Inc., 8.25%, 2/15/20 2,658,075
Total Energy 3,256,575
Materials - 0.8%
Paper Products - 0.8%
1,750,000 Appleton Papers, Inc., 10.5%, 6/15/15 (144A) 1,623,125
600,000 Cellu Tissue Hldgs., Inc., 11.5%, 6/1/14 650,250
Total Materials 2,273,375
Capital Goods - 1.2%
Aerospace & Defense - 0.9%
550,000 DigitalGlobe, Inc., 10.5%, 5/1/14 600,875
1,850,000 Spirit AeroSystems, Inc., 7.5%, 10/1/2017 1,900,875
2,501,750
Construction & Farm Machinery & Heavy Trucks - 0.3%
1,000,000 Manitowoc Co., Inc., 9.5%, 2/15/18 1,027,500
Total Capital Goods 3,529,250
Automobiles & Components - 0.0%
Auto Parts & Equipment - 0.0%
127,932 Delphi Intl. Hldgs. S.A.R.L, 12.0%, 10/6/14 125,374
Total Automobiles & Components 125,374
Consumer Durables & Apparel - 0.4%
Housewares & Specialties - 0.4%
1,000,000 Jarden Corp., 8.0%, 5/1/16 1,056,250
Total Consumer Durables & Apparel 1,056,250
Media - 0.4%
Advertising - 0.4%
936,000 MDC Partners, Inc., 11.0%, 11/1/16 (144A) 1,006,200
Total Media 1,006,200
Retailing - 0.6%
Catalog Retail - 0.6%
1,825,000 QVC, Inc., 7.5%, 10/1/19 (144A) 1,861,500
Total Retailing 1,861,500
Pharmaceuticals & Biotechnology & Life Sciences - 8.8%
Biotechnology - 1.5%
3,472,38(a) Fosamprenavir Pharma, 15.5%, 6/15/18 (144A) 3,298,764
3,006,02(a,b,d) Molecular Insight Pharmaceuticals, Inc., 8.466%, 11/16 1,052,110
4,350,874
Pharmaceuticals - 7.3%
15,000,0(a) Azithromycin Royalty Sub LLC, 16.0%, 5/15/19 (144A)
12,000,000
12,458,5(a)(d) Celtic Pharma Phinco B.V., 17.0%, 6/15/12 (144A) 6,229,269
360,000 (a) Pharma V, 13.0%, 10/15/13 (144A) 345,600
524,952 (a,b,d) Pharma VI, 5.546%, 10/15/14 (144A) 430,461
1,304,89(a)(d) Pharma X, 15.5%, 3/30/17 (144A) 1,109,163
1,500,00(a)(d) TCD Pharma, 16.0%, 4/15/24 (144A) 1,320,000
21,434,493
Total Pharmaceuticals & Biotechnology & Life Sciences
25,785,367
Diversified Financials - 0.4%
Asset Mgmt. & Custody Banks - 0.2%
530,000 Janus Capital Group, Inc., 6.25%, 6/15/12 556,596
Consumer Finance - 0.1%
200,000 Capital One Financial Corp., 7.375%, 5/23/14 232,989
Other Diversified Financial Services - 0.1%
500,000 (b) Lodestone Re, Ltd., 8.37%, 5/17/13 (144A) 492,900
Total Diversified Financials 1,282,485
Insurance - 0.5%
Reinsurance - 0.5%
250,000 (b) Muteki, Ltd., 4.776%, 5/24/11 (144A) 249,425
500,000 (b) Mystic Re, Ltd., 10.299%, 6/7/11 (144A) 499,850
600,000 (b) Residential Reinsurance 2008, Ltd., 7.288%, 6/6/11 (14 596,520
Total Insurance 1,345,795
Real Estate - 0.3%
Specialized Real Estate Investment Trusts - 0.3%
750,000 Hospitality Properties Trust, 7.875%, 8/15/14 841,193
Total Real Estate 841,193
Telecommunication Services - 0.1%
Integrated Telecommunication Services - 0.1%
300,000 Frontier Communications Corp., 8.25%, 5/1/14 324,000
Total Telecommunication Services 324,000
TOTAL CORPORATE NOTES
(Cost $52,911,335)
42,687,364
COMMON STOCK - 5.3% of Net Assets
Energy - 0.0%
Oil & Gas Drilling - 0.0%
138 (a,e,f) TARH E&P Hldgs. GP, LLP Class A Membership Interest 1
130,056 (a,e,f) TARH E&P Hldgs. LP, Class A Partnership Interest 1,301
1,302
Oil & Gas Equipment & Services - 0.0%
213,605 (e)(f) Value Creation, Inc. 57,673
Total Energy 58,975
Materials - 0.5%
Commodity Chemicals - 0.4%
101,187 (f) Georgia Gulf Corp. 1,315,431
Diversified Chemicals - 0.1%
20,650 (e)(f) Panda Herford Ethanol LP 206,500
Total Materials 1,521,931
Transportation - 0.1%
Airlines - 0.0%
5,460 (f) Delta Airlines, Inc. 57,111
Trucking - 0.1%
12,887 (f) SIRVA Worldwide, Inc. 193,305
Total Transportation 250,416
Automobiles & Components - 4.0%
Auto Parts & Equipment - 4.0%
829 (f) Delphi DIP Holdco LLP, Class B Subscription
11,668,175
Total Automobiles & Components
11,668,175
Consumer Services - 0.2%
Leisure Facilities - 0.2%
1,306 (e)(f) Lake at Las Vegas A Shares 610,692
9 (e)(f) Lake at Las Vegas B Shares 4,226
Total Consumer Services 614,918
Media - 0.3%
Broadcasting - 0.3%
5,325 (f) Charter Communications, Inc. 181,050
376 (e)(f) Young Broadcasting Hldgs. 563,248
Total Media 744,298
Health Care Equipment & Services - 0.1%
Health Care Services - 0.1%
15,034 (f) CCS Medical, Inc. 165,374
Total Health Care Equipment & Services 165,374
Telecommunication Services - 0.1%
Integrated Telecommunication Services - 0.1%
57,813 (f) Clearwire Corp. 370,581
Total Telecommunication Services 370,581
Utilities - 0.0%
Electric Utilities - 0.0%
1,589 (a,e,f) GBGH LLC Membership Interest 16
Total Utilities 16
TOTAL COMMON STOCK
(Cost $10,082,183)
15,394,684
LIQUIDATING TRUST - 0.0% of Net Assets
Consumer Services - 0.0%
Hotels, Resorts & Cruise Lines - 0.0%
3,377,88(e)(f) Yellowstone Mountain Club LLC, Liquidating Trust 0
Total Consumer Services 0
TOTAL LIQUIDATING TRUST
(Cost $0) 0
RIGHTS/WARRANTS - 0.5% of Net Assets
Consumer Services - 0.0%
Leisure Facilities - 0.0%
38 (e)(f) Lake at Las Vegas Series C, Exp. 7/15/15 0
52 (e)(f) Lake at Las Vegas Series D, Exp. 7/15/15 0
58 (e)(f) Lake at Las Vegas Series E, Exp. 7/15/15 0
66 (e)(f) Lake at Las Vegas Series F, Exp. 7/15/15 0
75 (e)(f) Lake at Las Vegas Series G, Exp. 7/15/15 0
Total Consumer Services 0
Media - 0.5%
Broadcasting - 0.5%
1,018 (e)(f) Young Broadcasting Hldgs., Exp. 12/24/24 1,524,964
Total Media 1,524,964
Telecommunication Services - 0.0%
Integrated Telecommunication Services - 0.0%
133,333 (a,e,f) Clearwire Corp., Exp. 5/17/11 (144A) 0
Total Telecommunication Services 0
TOTAL RIGHTS/WARRANTS
(Cost $2,959,070) 1,524,964
TOTAL INVESTMENTS IN SECURITIES - 159.6%
(Cost $533,779,182)(h) 465,271,840
OTHER ASSETS AND LIABILITIES - 3.0% 8,721,724
PREFERRED SHARES AT REDEMPTION VALUE, INCLUDING
DIVIDENDS PAYABLE - (62.6)% -182,480,552
NET ASSETS APPLICABLE TO
COMMON SHAREOWNERS - 100.0% 291,513,012
NR Security not rated by S&P or Moody's.
*
Senior secured floating rate loan interests in which the Trust
invests
generally pay interest at rates that 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 LIBOR (London InterBank Offered Rate),
(ii) the prime rate offered by one or more major United States
banks,
(iii) the certificate of deposit (iv) other base lending rates
used by
commercial lenders. The interest rate shown is the rate
accruing at August 31, 2010.
(144A) Security is exempt from registration under Rule 144A of the
Securities Act of 1933. Such securities may be resold normally
to
qualified institutional buyers in a transaction exempt from
registration. At August 31, 2010, the value of these securities
amounted to
$44,193,778 or 15.2% of total net assets applicable to common
shareowners.
(a) Indicates a security that has been deemed illiquid.
The aggregate cost of illiquid securities is
$95,738,693. The aggregate value of $46,046,122 represents
15.8% of the
total net assets applicable to common shareowners.
(b) Floating Rate Note. The rate shown is the coupon rate at August
31, 2010.
(c) Security is in default and is non-income producing.
(d) Payment-in-Kind (PIK) security which may pay interest in
additional principal amount.
(e) Security is fair valued using fair value methods
(other than prices supplied by independent pricing services).
(f) Non-income producing.
(g) The company and agent bank are in the process of negotiating
forbearance.
(h) At August 31, 2010, the net unrealized loss on investments based
on cost for federal income tax purposes of $534,067,103 was as
follows:
Aggregate gross unrealized gain for all investments in which
there is an excess of value over tax cost $ 13,650,069
Aggregate gross unrealized loss for all investments in which
there is an excess of tax cost over value (82,445,332)
Net unrealized loss $ (68,795,263)
For financial reporting purposes net unrealized loss on
investments
was $68,507,342 and cost of investments aggregated
$533,779,182.
Purchases and sales of securities (excluding temporary cash
investments) for the period ended August 31, 2010, aggregated
$138,361,718 and $141,400,036, respectively.
Glossary of Terms:
LC- Letter of Credit
Principal amounts are denominated in U.S. dollars unless
otherwise noted.
AUD - Australian Dollar
EURO - Euro
Various inputs are used in determining the value of the Trust's
investments. These inputs are summarized in the three broad
levels listed below.
Highest priority is given to Level 1 inputs and lowest priority
is given to Level 3.
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted
prices for similar securities, interest rates, prepayment speeds,
credit risk, etc.)
Level 3 - significant unobservable inputs (including the Trust's
own assumptions in determining fair value of investments)
The following is a summary of the inputs used as of August31, 2010,
in valuing the Trust's assets:
Level 1 Level 2 Level 3 Total
Collateralized loan obligation $0 $0 $4,582,761 $4,582,761
Senior flt rate loan (oil&gas drilling) 0 0 1,338,850 1,338,850
Senior flt rate loan (oil&gas exploration)0 3,068,422 0 3,068,422
Senior flt rate loan (cable & satellite) 0 28,933,148 10,509,939 39,443,087
Senior flt rate loan (electric utilities) 0 12,788,162 312,634 13,100,796
Senior flt rate loan (other industries) 0 344,122,312 0 344,122,312
Claims 0 0 8,600 8,600
Corporate notes (biotech) 0 0 4,350,874 4,350,874
Corporate notes (pharmaceuticals) 0 0 21,434,493 21,434,493
Corporate notes (other industries) 0 16,901,997 0 16,901,997
Common stock(oil & gas drilling) 0 1,302 1,302
Common stock(oil & gas equipment & svcs.) 57,673 57,673
Common stock(diversified chemicals) 0 0 206,50 206,500
Common stock(leisure facilities) 0 614,918 614,918
Common stock(broadcasting) 181,050 0 563,248 744,298
Common stock(electric utilities) 0 0 16 16
Common stock(other industries) 1,743,123 12,026,854 0 13,769,977
Rights/ Warrants 0 1,524,96 1,524,964
Total $1,924,173 $417,840,895 $45,506,772 $465,271,840
Other Financial Instrumements $0 ($278,888) $0 ($278,888)
The following is a reconciliation of assets valued
using significant unobservable inputs (level 3):
Realized Change in Net Transfers
Balance as g/l unrealized purchase in/(out)
of 11/30/09 app/(dep) (sales) Level 3
Collateralized loan $4,485,650 $109,240 ($12,129) $0
Sr.fltl(oil/gas drill)1,275,323 0 (1,953) 65,480 0
Sr.fltl(oil&gas expl) 0 119,783 (262,700) (3,103,833) 3,246,750
Sr.fltl(cable & sat)10,509,939 0 0 0 0
Sr.fltl(distributors) 4,448 (2,464,142) (188,657) 2,648,351
Sr.fltl(electric utl) 413,755 0 (126,474) 25,353 0
Claims 8,600 0 0 0 0
Corp. (biotech) 6,001,042 0 (1,237,273) (412,895) 0
Corp. (pharma) 21,965,041 0 (1,524,028) 993,480 0
Common(oil/gas drill) 1,302 0 0 0 0
Common(oil/gas equip. & vcs.) 0 0 57,459 214 0
Common(diversified chem) 206,500 0 0 0 0
Common(leisure facilities) 0 0 0 614,918 0
Common(broadcasting) 206,250 0 (176,360) 739,608 (206,250)
Common(electric utl) 16 0 0 0 0
Liquidating trust 0 0 0 0
Rights/warrants 0 0 0 1,524,964 0
Ending balance $45,073,418 $124,231 $(5,626,231) $246,503 $5,688,851
Balance as
of 8/31/10
Collateralized loan $4,582,761
Sr.fltl(oil/gas drill) 1,338,850
Sr.fltl(oil&gas expl) 0
Sr.fltl(cable & sat) 10,509,939
Sr.fltl(distributors) 0
Sr.fltl(electric utl) 413,838
Claims 8,600
Corp. (biotech) 4,852,079
Corp. (pharma) 21,434,493
Common(oil/gas drill) 1,302
Common(oil/gas equip. & vcs.) 57,673
Common(diversified chem) 206,500
Common(leisure facilities) 614,918
Common(broadcasting) 563,248
Common(electric utl) 16
Rights/warrants 1,524,964
Ending balance $45,506,772
*Transfers are calcuated beginning of period.
ITEM 2. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant's principal executive officer or
officers and principal financial officer or officers, or persons performing
similar functions, about the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR
270.30a-3(c))) as of a date within 90 days of the filing date of the report
that includes the disclosure required by this paragraph, based on their
evaluation of these controls and procedures required by Rule 30a-3(b)
under the Act (17 CFR270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b)
under the Exchange Act (17 CFR240.13a-15(b) or 240.15d-15(b)).
The registrant's principal executive officer and principal financial officer
have concluded that the registrant's disclosure controls and procedures are
effective based on their evaluation of these controls and procedures as of
a date within 90 days of the filing date of this report.
(b) Disclose any change in the registrant's internal controls over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR270.30a-3(d))
that occurred during the registrant's last fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting.
There were no significant changes in the registrant's internal control over
financial reporting that occurred during the second fiscal quarter of the
period covered by this report that have materially affected, or are
reasonably likely to materially affect, the registrant's internal control
over financial reporting.
ITEM 3. EXHIBITS.
(a) A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2 under the Act
(17 CFR 270.30a-2).
Filed herewith.
SIGNATURES
[See General Instruction F]
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) Pioneer Floating Rate Trust
By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr, President
Date October 29, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr., President
Date October 29, 2010
By (Signature and Title)* /s/ Mark Bradley
Mark Bradley, Treasurer
Date October 29, 2010
* Print the name and title of each signing officer under his or her signature.