| Tullow Oil, 10.25% 15may2026, USD (USG91237AB60) |
| Tullow Oil, 10.25% 15may2026, USD (USG91237AB60) |
| HSBC Holdings plc, 6.95% perp., USD (US404280EV79) |
| HSBC Holdings plc, 4% 8sep2036, USD (XS1481811872) |
| Armada Euro CLO V, FRN 28jul2034, EUR (ABS) (XS2352748177) |
| Armada Euro CLO V, FRN 28jul2034, EUR (ABS) (XS2352748177) |
| HSBC Holdings plc, 6.5% perp., USD (US404280BP39) |
| GSK PLC, 2.875% 19nov2031, EUR (XS2933691433) |
| HSBC, 5% perp., SGD (XS3023923314) |
| HSBC Holdings plc, 6.75% 11sep2028, GBP (XS0387079907) |
| HSBC, 4.6% perp., USD (US404280CN71) |
| HSBC, 4.6% perp., USD (US404280CN71) |
| GSK PLC, 3.625% 15may2025, USD (US377372AM97) |
| HSBC Holdings plc, 4.762% 29mar2033, USD (US404280DC08) |
| HSBC Holdings plc, 4.762% 29mar2033, USD (US404280DC08) |
| HSBC Holdings plc, 6.5% 15sep2037, USD (US404280AH22) |
| HSBC Holdings plc, 2.013% 22sep2028, USD (US404280CL16) |
| HSBC Holdings plc, 2.013% 22sep2028, USD (US404280CL16) |
| HSBC Holdings plc, 4.95% 31mar2030, USD (US404280CF48) |
| HSBC Holdings plc, 4.95% 31mar2030, USD (US404280CF48) |
| Co-operative Group, 11% 22dec2025, GBP (GB00BFXW0630) |
| Aviva, 7.75% perp., GBP (XS3025344386) |
| Thames Water Utilities, 0% 22mar2027, GBP (728D) (XS3002255431) |
| HSBC Holdings plc, 7% 7apr2038, GBP (XS0356452929) |
| HSBC Holdings plc, 5% perp., SGD (XS1882693036) |
| Barclays, 8% perp., USD (US06738EBG98) |
| Barclays, 4.375% perp., USD (US06738EBT10) |
| Barclays, 4.375% perp., USD (US06738EBT10) |
| Barclays, 7.625% perp., USD (US06738EDC66) |
| Jaguar Land Rover, 4.5% 1oct2027, USD (USG5002FAM89) |
| Lloyds Bank, 6.5% 17sep2040, GBP (EMTN 4133) (XS0543369184) |
| HSBC Holdings plc, 2.5% 15mar2027, EUR (XS1379184473) |
| HSBC Holdings plc, 6.375% perp., USD (US404280AS86) |
| HSBC Holdings plc, 4.3% 8mar2026, USD (US404280AW98) |
| Jaguar Land Rover, 5.5% 15jul2029, USD (USG5002FAV88) |
| Jaguar Land Rover, 5.5% 15jul2029, USD (USG5002FAV88) |
| HSBC Holdings plc, 6% perp., USD (US404280BL25) |
| HSBC Holdings plc, 5.874% 18nov2035, USD (US404280EL97) |
| Thames Water, 9.75% 10oct2027, GBP (XS3017974356) |
| HSBC Holdings plc, 0.875% 6sep2024, EUR (XS1485597329) |
| HSBC Holdings plc, 2.804% 24may2032, USD (US404280CT42) |
| HSBC Holdings plc, 2.804% 24may2032, USD (US404280CT42) |
| Shell, 6.375% 15dec2038, USD (US822582AD40) |
| Standard Chartered Plc, 4.3% perp., USD (USG84228EV68) |
| Standard Chartered Plc, 4.3% perp., USD (USG84228EV68) |
| 888 ACQUISITIONS LIMITED, 7.558% 15jul2027, EUR (XS2498543102) |
| 888 ACQUISITIONS LIMITED, 7.558% 15jul2027, EUR (XS2498543102) |
| Lloyds Bank, 7.625% 22apr2025, GBP (XS0503834821) |
| HSBC Holdings plc, 6.375% perp., USD (US404280AT69) |
| Vodafone Group, 5.625% 4dec2025, GBP (XS0181816652) |
| Shell, 5.5% 25mar2040, USD (US822582AN22) |
| HSBC Holdings plc, 2.871% 22nov2032, USD (US404280CY37) |
| HSBC Holdings plc, 2.871% 22nov2032, USD (US404280CY37) |
| Lloyds Banking Group, 7.875% perp., GBP (XS1043552261) |
| EnQuest, 9% 27oct2027, GBP (XS2461853793) |
| EnQuest, 9% 27oct2027, GBP (XS2461853793) |
| HSBC Holdings plc, 5.25% 14mar2044, USD (US404280AQ21) |
| BP PLC, 4.25% perp., GBP (XS2193663619) |
| BP PLC, 4.25% perp., GBP (XS2193663619) |
| British Telecommunications, 8.625% 15dec2030, USD (US111021AE12) |
| Barclays, 3.65% 16mar2025, USD (US06738EAE59) |
| BP PLC, 4.375% perp., USD (US05565QDU94) |
| Barclays, 6.125% perp., USD (US06738EBN40) |
| Woodville Consultants, 11% 19may2024, EUR (GB00BMFCKB51) |
| BP PLC, 4.375% perp., USD (US05565QDU94) |
| Barclays, 6.125% perp., USD (US06738EBN40) |
| Woodville Consultants, 11% 19may2024, EUR (GB00BMFCKB51) |
| Standard Chartered Bank, 7.625% perp., USD (USG84228GP72) |
| Barclays Bank PLC, 5.75% 14sep2026, GBP (105) (XS0134886067) |
| BP PLC, 4.875% perp., USD (US05565QDV77) |
| HSBC, 4.7% perp., USD (US404280CQ03) |
| BP PLC, 4.875% perp., USD (US05565QDV77) |
| HSBC, 4.7% perp., USD (US404280CQ03) |
| HSBC Holdings plc, 6% 29mar2040, GBP (XS0498768315) |
| HSBC Holdings plc, 3.9% 25may2026, USD (US404280BB43) |
| Barclays, 3.25% 12feb2027, GBP (228) (XS1472663670) |
| International Personal Finance Plc, 9.75% 12nov2025, EUR (XS2256977013) |
| International Personal Finance Plc, 9.75% 12nov2025, EUR (XS2256977013) |
| HSBC Holdings plc, 4.583% 19jun2029, USD (US404280BT50) |
| Macquarie Bank London, 6.125% perp., USD (USQ568A9SP31) |
| BP PLC, 6.125% perp., USD (US05565QDX34) |
| University of Oxford, 2.544% 8dec2117, GBP (XS1713474838) |
| HSBC Holdings plc, 5.75% 20dec2027, GBP (XS0159497162) |
| Tullow Oil, 7% 1mar2025, USD (USG91237AA87) |
| HSBC Holdings plc, 3.973% 22may2030, USD (US404280CC17) |
| British American Tobacco, 4.906% 2apr2030, USD (US05526DBN49) |
| Aston Martin Capital Holdings, 15% 30nov2026, USD (USG05891AG47) |
| Rothesay Life, 4.875% perp., USD (NC6) (XS2399976195) |
| British American Tobacco, 4.906% 2apr2030, USD (US05526DBN49) |
| Aston Martin Capital Holdings, 15% 30nov2026, USD (USG05891AG47) |
| Rothesay Life, 4.875% perp., USD (NC6) (XS2399976195) |
| SIG plc, 9.75% 31oct2029, EUR (XS2919902820) |
| GSK PLC, 6.375% 15may2038, USD (US377372AE71) |
| HSBC, 4% perp., USD (US404280CP20) |
| HSBC, 4% perp., USD (US404280CP20) |
| HSBC Holdings plc, 6.8% 1jun2038, USD (US404280AJ87) |
| Rio Tinto, 5.75% 14mar2055, USD (US76720AAV89) |
| NATIONAL GAS TRANSMISSION, 8.75% 27jun2025, GBP (XS0058343251) |
| Heathrow Airport Holdings, 6.75% 3dec2028, GBP (ABS) (XS0471436088) |
| HSBC Holdings plc, 4.375% 23nov2026, USD (US404280BH13) |