nvq
 
 
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
 
(Exact name of registrant as specified in charter)
522 Fifth Avenue, New York, New York 10036
 
(Address of principal executive offices)      (Zip code)
Edward C. Wood III
522 Fifth Avenue, New York, New York 10036
 
(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: 10/31/09
 
 

 

 

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:
Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited)
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Variable Rate** Senior Loan Interests 155.4%
        Aerospace/Defense 3.3%
$ 2,641    
Alion Science and Technology Corp., Term Loan (a)
   9.50%   02/06/13   $ 2,401,055  
  2,154    
Apptis, Inc., Term Loan
   3.50 to 3.54   12/20/12     1,917,009  
  2,113    
Atlantic Marine Services, Term Loan
   4.56   03/22/14     2,086,947  
  990    
Booz Allen Hamilton, Inc., Term Loan (a)
   7.50   07/31/15     1,001,671  
  8,185    
IAP Worldwide Services, Inc., Term Loan (b)
   9.25 to 11.50   12/30/12 to 06/28/13     6,229,405  
  4,405    
ILC Industries, Inc., Term Loan
   2.24   02/24/12     4,213,782  
  2,643    
Primus International, Inc., Term Loan
   2.75   06/07/12     2,563,907  
  4,819    
Vangent, Inc., Term Loan
   2.65   02/14/13     4,578,361  
  625    
Wesco Aircraft Hardware Corp., Term Loan
   6.00   03/28/14     527,344  
       
 
              
       
 
             25,519,481  
       
 
              
       
 
                
       
Automotive 4.8%
                
  1,585    
Acument Global Technologies, Term Loan (b)
   14.00   08/11/13     1,058,071  
  7,471    
Federal-Mogul Corp., Term Loan
   2.19   12/29/14 to 12/28/15     5,757,234  
  12,595    
Ford Motor Co., Term Loan
   3.25 to 3.29   12/16/13     11,256,823  
  7,075    
Metokote Corp., Term Loan
   3.25 to 5.25   11/27/11     5,660,075  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
       
Automotive (continued)
                
$ 5,530    
Oshkosh Truck Corp., Term Loan
   6.29 to 6.33%   12/06/13   $ 5,533,559  
  611    
Performance Transportation Services, Inc., Revolving Credit Agreement (c)(d)(e)
   3.25   01/26/12     168,159  
  420    
Performance Transportation Services, Inc., Term Loan (c)(d)(e)
   7.50   01/26/12     115,474  
  4,853    
Polypore, Inc., Term Loan
   2.46   07/03/14     4,543,320  
  3,096    
Sensata Technologies, Inc., Term Loan
   2.00 to 2.03   04/26/13     2,665,268  
  498    
TRW Automotive, Inc., Term Loan
   6.25   02/09/14     498,448  
       
 
              
       
 
             37,256,431  
       
 
              
       
 
                
       
Banking 1.6%
                
  13,284    
Dollar Financial Corp., Term Loan
   3.04 to 3.25   10/30/12     12,636,074  
       
 
              
       
 
                
       
Beverage, Food & Tobacco 9.6%
                
  5,190    
Acosta, Inc., Term Loan (a)
   2.50   07/28/13     4,946,929  
  3,175    
BE Foods Investments, Inc., Term Loan (b)
   5.25   07/11/12     3,079,769  
  11,123    
Coleman Natural Foods, LLC, Term Loan (b)
   7.46 to 10.78   08/22/12 to 08/22/13     6,043,779  
  4,736    
DCI Cheese Co., Term Loan
   3.53   06/30/10     2,723,037  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Beverage, Food & Tobacco (continued)            
$ 10,898    
Dole Food Co. Inc., Term Loan
   5.28 to 8.00%   04/12/13   $ 11,026,999  
  10,151    
DS Waters of America, Inc., Term Loan
   2.54   10/27/12     9,466,206  
  4,950    
DSW Holdings, Inc., Term Loan
   4.29   03/02/12     4,322,998  
  9,731    
Farley’s & Sathers Candy Co., Inc., Term Loan
   3.99 to 11.25   06/15/10 to 03/24/11     9,141,928  
  5,686    
FSB Holdings, Inc., Term Loan
   2.50 to 6.00   09/29/13 to 03/29/14     5,121,402  
  1,149    
Michael Foods, Inc., Term Loan
   6.50   05/01/14     1,164,489  
  1,097    
PBM Products, LLC, Term Loan
   2.50   09/29/12     1,037,079  
  636    
Pinnacle Foods Finance, LLC, Revolving Credit Agreement
   2.99   04/02/13     429,545  
  6,807    
Pinnacle Foods Finance LLC, Term Loan
   3.00   04/02/14     6,389,905  
  749    
Smart Balance, Inc., Term Loan
   3.28   05/18/14     725,076  
  9,278    
Wm. Wrigley Jr. Co., Term Loan
   6.50   09/30/14     9,411,083  
       
 
              
       
 
             75,030,224  
       
 
              
        Broadcasting — Cable 10.2%            
  6,601    
Cequel Communications, LLC, Term Loan
  2.24 to 4.25   11/05/13     6,320,552  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Broadcasting — Cable (continued)            
$ 23,915    
Charter Communications Operating, LLC, Term Loan (e)
   6.25 to 6.75%   03/06/14 to 09/06/14   $ 21,619,803  
  11,385    
CSC Holdings, Inc., Term Loan
   1.30 to 2.19   02/24/12 to 03/29/16     11,014,731  
  4,977    
DIRECTV Holdings, LLC, Term Loan
   5.25   04/13/13     4,985,083  
  4,378    
Discovery Communications Holdings, LLC, Term Loan
   5.25   05/14/14     4,449,142  
  1,972    
Knology Inc., Term Loan
   3.78   06/30/14     1,927,528  
  4,875    
MCC Iowa, LLC, Term Loan
   1.98 to 6.50   01/31/15 to 01/03/16     4,571,232  
  4,463    
Mediacom Illinois, LLC, Term Loan
   1.73 to 5.50   01/31/15 to 03/31/17     4,285,900  
  8,250    
RCN Corp., Term Loan
   2.56   05/25/14     7,700,531  
  7,123    
TWCC Holding Corp., Term Loan
   7.25   09/12/15     7,241,211  
  6,145    
UPC Broadband Holding B.V., Term Loan (Netherlands)
   3.75   12/30/16     5,914,309  
       
 
              
       
 
             80,030,022  
       
 
              
       
 
                
        Broadcasting — Diversified 1.4%            
  8,248    
Alpha Topco, Ltd., Term Loan (United Kingdom) (a)
   1.24 to 3.74   12/31/13 to 06/30/14     7,396,361  
  4,307    
Cumulus Media, Inc., Term Loan
   4.25   06/11/14     3,547,858  
       
 
              
       
 
             10,944,219  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Broadcasting — Radio 2.2%            
$ 6,693    
CMP KC LLC, Term Loan (f)
   6.25%   05/03/11   $ 2,041,461  
  13,936    
CMP Susquehanna Corp., Term Loan
   2.25   05/05/13     10,335,621  
  1,737    
LBI Media, Inc., Term Loan
   1.74   03/31/12     1,450,395  
  4,627    
Multicultural Radio Broadcasting, Inc., Term Loan
   2.99 to 5.99   12/18/12 to 06/18/13     3,230,734  
       
 
              
       
 
             17,058,211  
       
 
              
       
 
                
        Broadcasting — Television 3.1%            
  958    
Barrington Broadcasting, LLC, Term Loan
   4.53 to 4.71   08/12/13     766,177  
  2,680    
FoxCo Acquisition, LLC., Term Loan
   7.25   07/14/15     2,449,034  
  959    
High Plains Broadcasting Operating Co. LLC, Term Loan
   7.25   09/14/16     787,733  
  3,630    
Newport Television LLC, Term Loan
   7.25 to 8.00   09/14/16     2,983,014  
  3,632    
Sunshine Acquisition, Ltd., Term Loan
   2.73   03/20/12     3,182,477  
  17,553    
Univision Communications Inc., Term Loan
   2.53   09/29/14     14,086,451  
       
 
              
       
 
             24,254,886  
       
 
              
       
 
                
        Buildings & Real Estate 2.1%            
  2,500    
El Ad IDB Las Vegas, LLC, Term Loan
   2.99   08/09/12     1,378,125  
  14,820    
Ginn LA CS Borrower, LLC, Term Loan (d)
   6.20 to 7.75   06/08/11     1,259,700  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                       
Principal              
Amount         Stated    
(000) Borrower   Coupon   Maturity *   Value
 
      Buildings & Real Estate (continued)            
$ 6,000  
Ginn LA CS Borrower, LLC, Term Loan (d)(f)
   10.20%   06/08/12   $ 10,002  
  6,638  
Kuilima Resort Co., Term Loan (b)(d)(f)
   20.25   09/30/11     0  
  113  
Kuilima Resort Co. , Term Loan (b)(d)(f)(g)
   30.25   10/01/08     0  
  3,000  
Kyle Acquisition Group, LLC, Term Loan (d)
   4.00   07/20/11     219,999  
  2,200  
Kyle Acquisition Group, LLC, Term Loan (d)(g)
   5.75   07/20/09     161,333  
  602  
Lake At Las Vegas Joint Venture, LLC, Revolving Credit Agreement (b)(d)(e)
   14.35   06/20/12     17,554  
  6,078  
Lake At Las Vegas Joint Venture, LLC, Term Loan (b)(d)(e)
   15.35 to 20.00   10/01/10 to 12/22/12     177,290  
  1,000  
Lake At Las Vegas Joint Venture, LLC, Term Loan (b)(e)
   9.74   12/31/09     550,000  
  4,235  
NLV Holdings, LLC, Term Loan (b)(e)
   4.25 to 12.50   05/09/11 to 05/09/12     633,750  
  6,703  
Realogy Corp., Term Loan
   3.25 to 3.29   10/10/13     5,634,892  
  2,000  
South Edge, LLC, Term Loan (d)
   5.50   10/31/09     615,000  
  1,908  
South Edge, LLC, Term Loan (d)(g)
   5.25   10/31/08     601,023  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Buildings & Real Estate (continued)            
$ 540    
Standard Pacific Corp., Term Loan
   2.19%   05/05/13   $ 450,900  
  5,946    
Tamarack Resorts LLC, Term Loan (d)
   7.50 to 8.05   05/19/11     550,005  
  497    
Tamarack Resorts LLC, Term Loan (d)(g)
   20.25   07/02/09     397,521  
  2,924    
WCI Communities, Inc., Term Loan (b)
   10.00 to 11.00   09/03/14 to 09/02/16     2,740,519  
  1,010    
Yellowstone Mountain Club, LLC, Term Loan
   6.00   07/16/14     848,493  
  2,866    
Yellowstone Mountain Club, LLC, Term Loan (d)(e)(f)
   4.63   09/30/10     0  
       
 
              
       
 
             16,246,106  
       
 
              
       
 
                
        Business Equipment & Services 4.1%            
  3,609    
First American Payment Systems, LP, Term Loan
   3.25   10/06/13     3,175,920  
  2,152    
GSI Holdings, LLC, Term Loan
   3.38   08/01/14     1,775,357  
  1,386    
InfoUSA, Inc., Term Loan
   2.29   02/14/12     1,340,644  
  2,500    
KAR Holdings, Inc., Term Loan
   2.50   10/18/13     2,400,000  
  5,523    
NCO Financial Systems, Term Loan
   7.50   05/15/13     5,353,502  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                      
Amount             Stated        
(000)     Borrower   Coupon   Maturity *   Value
 
        Business Equipment & Services (continued)            
$ 13,669    
Nielsen Finance LLC, Term Loan
   2.24%   08/09/13   $ 12,660,908  
  3,909    
RGIS Holdings LLC, Term Loan
   2.75 to 2.78   04/30/14     3,483,992  
  172    
Sedgwick CMS Holdings, Inc., Term Loan
   2.53   01/31/13     162,570  
  1,955    
SMG Holdings, Inc., Term Loan
   3.25 to 4.12   07/27/14     1,759,500  
       
 
              
       
 
             32,112,393  
       
 
              
       
 
                
        Chemicals, Plastics & Rubber 9.5%            
  4,147    
Ashland Chemicals, Term Loan (a)
   6.50 to 7.65   11/13/13 to 05/13/14     4,204,903  
  2,400    
Brenntag Holding GmbH & Co., Term Loan (Germany)
   4.25   07/07/15     2,251,999  
  1,330    
Celanese Holdings, LLC, Term Loan
   2.04   04/02/14     1,247,408  
  893    
Cristal Inorganic Chemicals US, Inc., Term Loan
   2.53   05/15/14     821,106  
  5,417    
Georgia Gulf Corp., Term Loan
   10.00   10/03/13     5,418,890  
  11,838    
Hexion Specialty Chemicals, Inc., Term Loan
   2.56   05/06/13     9,392,659  
  8,945    
Huntsman International, LLC, Term Loan
   1.99 to 2.49   04/21/14 to 06/30/16     8,205,466  
  9,701    
Kraton Polymers, LLC, Term Loan
   2.31   05/13/13     9,230,580  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Chemicals, Plastics & Rubber (continued)            
$ 74    
Lyondell Chemical Co., Revolving Credit Agreement (e)
   3.74 to 5.75%   12/22/14   $ 42,715  
  17,802    
Lyondell Chemical Co., Term Loan (e)
   3.74 to 13.00   02/03/10 to 12/22/14     11,752,937  
  4,745    
Nalco Co., Term Loan
   6.50   05/13/16     4,833,924  
  4,938    
PQ Corp., Term Loan
   3.50 to 3.54   07/30/14     4,419,063  
  1,588    
Rockwood Specialties Group, Inc., Term Loan
   4.50   07/30/12     1,603,834  
  5,938    
Solutia, Inc., Term Loan
   7.25   02/28/14     6,040,794  
  5,733    
Univar, Inc., Term Loan
   3.24   10/10/14     5,234,643  
       
 
              
       
 
             74,700,921  
       
 
              
       
 
                
        Construction Material 1.0%            
  11,116    
Axia, Inc., Term Loan (b)
   5.00   12/21/12     2,500,993  
  4,173    
Building Materials Holding Corp., Term Loan (d)(e)
   6.50   11/10/11     1,283,252  
  2,825    
Contech Construction Products, Inc., Term Loan
   2.25   01/31/13     2,542,909  
  1,500    
Custom Building Products, Inc., Term Loan
   10.75   04/20/12     1,430,625  
       
 
              
       
 
             7,757,779  
       
 
              
       
 
                
        Containers, Packaging & Glass 4.0%            
  2,439    
Anchor Glass Container Corp., Term Loan (a)
   6.75   06/20/14     2,445,655  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Containers, Packaging & Glass (continued)        
$ 3,418    
Berlin Packaging LLC, Term Loan
   3.25 to 3.29%   08/17/14   $ 2,751,714  
  3,837    
Berry Plastics Group, Inc., Term Loan
   2.30   04/03/15     3,305,918  
  7,554    
Graham Packaging Co., L.P., Term Loan
   2.50 to 6.75   10/07/11 to 04/05/14     7,569,518  
  1,346    
Graphic Packaging International, Inc., Term Loan
   2.25 to 2.29   05/16/14     1,282,937  
  6,605    
Kranson Industries, Inc., Term Loan
   2.49 to 4.50   07/31/13     6,275,037  
  5,810    
Packaging Dynamics Operating Co., Term Loan
   2.24   06/09/13     4,560,742  
  4,045    
Pertus Sechzehnte GmbH, Term Loan (Germany)
   2.62 to 2.87   06/13/15 to 06/13/16     3,009,462  
  825    
Tegrant Holding Corp., Term Loan
   5.79   03/08/15     330,000  
       
 
              
       
 
             31,530,983  
       
 
              
       
 
                
        Diversified Manufacturing 0.9%            
  2,311    
Arnold Magnetic Technologies Corp., Term Loan (f)
   9.00   03/07/11 to 03/06/12     1,599,257  
  5,822    
MW Industries, Inc., Term Loan (f)
   3.30 to 6.75   11/01/13     5,371,350  
       
 
              
       
 
             6,970,607  
       
 
              
       
 
                
        Durable Consumer Products 0.3%            
  2,502    
Brown Jordan International, Inc., Term Loan
  4.24 to 6.25   04/30/12     2,051,530  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
       
Ecological 0.5%
                
$ 1,471    
Energy Solutions, LLC, Term Loan
   4.00%   05/28/13   $ 1,467,045  
  1,566    
Environmental Systems Products Holdings, Term Loan (f)
   13.50   09/12/12     1,456,173  
  1,100    
Synagro Technologies, Inc., Term Loan
   4.99   10/02/14     698,500  
       
 
              
       
 
             3,621,718  
       
 
              
       
 
                
       
Education & Child Care 3.6%
                
  2,736    
Bright Horizons Family Solutions, Inc., Revolving Credit Agreement
   3.50 to 5.75   05/28/14     2,571,840  
  2,451    
Bright Horizons Family Solutions, Inc., Term Loan
   6.25   05/28/15     2,452,914  
  10,348    
Cengage Learning Holdings II, LP, Term Loan
   2.74 to 7.50   07/03/14     9,025,540  
  416    
Educate, Inc., Term Loan
   2.53 to 5.54   06/14/13 to 06/16/14     370,760  
  3,352    
Education Management LLC, Term Loan
   2.06   06/03/13     3,150,299  
  12,250    
Nelson Education, Ltd., Term Loan (Canada)
   2.78   07/05/14     10,780,000  
       
 
              
       
 
             28,351,353  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
       
Electronics 3.7%
                
$ 913    
Aeroflex, Inc., Term Loan
   3.50 to 3.75%   08/15/14   $ 850,212  
  4,309    
Edwards Ltd., Term Loan (Cayman Islands) (b)
   2.24 to 6.78   05/31/14 to 11/30/14     2,951,221  
  330    
H3C Holdings, Ltd., Term Loan (Cayman Islands)
   3.64   09/28/12     315,150  
  5,849    
Infor Enterprise Solutions Holdings, Inc., Term Loan
   4.00   07/28/12     5,161,491  
  930    
Kronos, Inc., Term Loan
   2.28   06/11/14     877,739  
  1,402    
Mantinvest 2 SAS, Term Loan (France)
   2.97 to 3.22   06/23/14 to 06/22/15     1,037,514  
  7,276    
Open Solutions, Inc., Term Loan
   2.41   01/23/14     5,905,386  
  582    
Stratus Technologies, Inc., Term Loan
   4.04   03/29/11     490,820  
  158    
SunGard Data Systems, Inc., Revolving Credit Agreement
   4.25   08/11/11     138,183  
  9,897    
SunGard Data Systems, Inc., Term Loan
   1.99 to 6.75   02/28/14 to 02/26/16     9,641,097  
  2,216    
Verint Systems, Inc., Term Loan
   3.50   05/25/14     2,027,710  
       
 
              
       
 
             29,396,523  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                
Amount           Stated    
(000)   Borrower   Coupon   Maturity *   Value
 
        Entertainment & Leisure 6.9%            
$ 3,881    
Bombardier Recreational Products, Inc., Term Loan (Canada)
   3.00%   06/28/13   $ 2,726,457  
  3,763    
Cedar Fair, LP, Term Loan
   2.24 to 6.25   02/17/12 to 02/17/14     3,646,032  
  2,377    
Cinemark USA, Inc., Term Loan
   2.00 to 2.21   10/05/13     2,260,341  
  7,051    
Fender Musical Instruments Corp., Term Loan
   2.54   06/09/14     6,029,005  
  2,300    
Gibson Guitar Corp., Term Loan
   2.78   12/29/13     2,064,545  
  6,000    
Hicks Sports Group, LLC, Term Loan (d)
   6.75   12/22/10     5,040,000  
  4,404    
Metro-Goldwyn-Mayer Studios, Inc., Revolving Credit Agreement (d)
   5.00   04/08/10     2,378,077  
  15,308    
Metro-Goldwyn-Mayer Studios Inc., Term Loan (d)
   20.50   04/08/12     8,496,052  
  4,800    
Mets, LP, Term Loan
   2.24   07/25/10     4,296,000  
  2,030    
Playcore Holdings, Inc., Term Loan
   2.81 to 4.75   02/21/14     1,847,585  
  2,301    
Regal Cinemas, Corp., Term Loan
   4.03   10/28/13     2,285,747  
  3,400    
Ticketmaster Entertainment, Inc., Term Loan
   3.55   07/25/14     3,349,000  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
       
Entertainment & Leisure (continued)
                
$ 2,563    
True Temper Sports, Inc., Revolving Credit Agreement (g)
   7.50%   03/15/09   $ 1,960,504  
  8,103    
True Temper Sports, Inc., Term Loan
   7.50   03/15/11     7,424,153  
  4,250    
True Temper Sports, Inc., Term Loan (d)
   6.60   06/30/11     658,750  
       
 
              
       
 
             54,462,248  
       
 
              
       
 
                
       
Farming & Agriculture 0.4%
                
  3,000    
WM. Bolthouse Farms, Inc., Term Loan
   5.74   12/16/13     2,842,500  
       
 
              
       
 
                
       
Finance 9.7%
                
  718    
Fidelity National Information Solutions, Inc., Term Loan
   4.47   01/18/12     717,249  
  30,207    
First Data Corp., Term Loan
   2.99 to 3.04   09/24/14     25,982,135  
  4,512    
Grosvenor Capital Management Holdings, LLP, Term Loan
   2.25   12/05/13     4,105,935  
  5,531    
iPayment, Inc., Term Loan
   2.24 to 2.28   05/10/13     5,054,340  
  6,886    
LPL Holdings, Inc., Term Loan
   1.99 to 2.03   06/28/13     6,507,200  
  3,247    
Metavante Corp., Term Loan
   3.73   11/01/14     3,244,770  
  9,295    
National Processing Co. Group, Inc., Term Loan
   7.00 to 10.75   09/29/13 to 09/29/14     8,437,000  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
       
Finance (continued)
                
$ 5,740    
Nuveen Investments, Inc., Term Loan
   3.28%   11/13/14   $ 4,970,615  
  10,040    
Oxford Acquisition III, Ltd., Term Loan (United Kingdom)
   2.28   05/12/14     8,350,273  
  7,242    
RJO Holdings Corp., Term Loan
   3.25 to 7.00   07/12/14 to 07/12/15     3,563,898  
  6,100    
Transfirst Holdings, Inc., Term Loan (b)
   3.04 to 7.04   06/15/14 to 06/15/15     5,154,530  
       
 
              
       
 
             76,087,945  
       
 
              
       
 
                
       
Grocery 0.9%
                
  7,196    
Roundy’s Supermarkets, Inc., Term Loan
   3.51 to 6.25   11/03/13     7,099,743  
       
 
              
       
 
                
       
Health & Beauty 1.2%
                
  4,756    
American Safety Razor Co., Term Loan
   2.54 to 6.54   07/31/13 to 01/30/14     4,145,668  
  7,508    
Marietta Intermediate Holding Corp, Term Loan (b)
   5.25 to 12.00   11/30/10 to 12/31/12     1,747,362  
  4,094    
Philosophy, Inc., Term Loan
   2.25   03/16/14     3,459,060  
       
 
              
       
 
             9,352,090  
       
 
              
       
 
                
       
Healthcare 16.0%
                
  3,716    
American Medical Systems, Inc., Term Loan
   2.50   07/20/12     3,614,061  
  2,992    
Capella Healthcare, Inc., Term Loan
   5.75   03/02/15     2,940,038  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                
Amount           Stated    
(000)   Borrower   Coupon   Maturity *   Value
 
       
Healthcare (continued)
                
$ 150    
Catalent Pharma Solutions, Inc., Revolving Credit Agreement
   2.13 to 2.50%   04/10/13   $ 123,575  
  3,849    
Catalent Pharma Solutions, Term Loan
   2.49   04/10/14     3,356,382  
  23,312    
Community Health Systems, Inc., Term Loan
   2.49 to 2.62   07/25/14     21,534,180  
  6,073    
DSI Renal, Inc., Term Loan (b)
   4.31   03/31/13     5,192,492  
  3,741    
Fresenius SE, Term Loan (Germany)
   6.75   09/10/14     3,781,929  
  430    
Genoa Healthcare Group, LLC, Term Loan
   5.75   08/10/12     387,106  
  22,903    
HCA, Inc., Term Loan
   1.78 to 2.53   11/16/12 to 11/18/13     21,375,342  
  4,313    
HCR Healthcare, LLC, Term Loan
   2.74 to 2.75   12/22/14     4,050,160  
  10,542    
Health Management Associates, Inc., Term Loan
   2.03   02/28/14     9,805,354  
  1,496    
HealthSouth Corp., Term Loan
   2.54 to 4.05   03/11/13 to 03/15/14     1,428,739  
  10,752    
Inverness Medical Innovations, Inc., Term Loan
   2.24 to 2.28   06/26/14     10,187,994  
  6,079    
Life Technologies Corp., Term Loan
   5.25   11/20/15     6,121,849  
  9,307    
Multiplan, Inc., Term Loan
   2.75   04/12/13     8,813,636  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
       
Healthcare (continued)
                
$ 1,931    
Select Medical Corp., Term Loan
   2.41%   02/24/12   $ 1,862,617  
  2,318    
Sun Healthcare Group, Inc., Term Loan
   2.28 to 2.52   04/21/14     2,193,387  
  336    
Surgical Care Affiliates, LLC, Revolving Credit Agreement
   1.75 to 2.04   06/28/13     285,600  
  10,238    
Surgical Care Affiliates, LLC, Term Loan
   2.30   12/29/14     9,410,095  
  5,843    
United Surgical Partners, International, Inc., Term Loan
   2.25 to 2.29   04/19/14     5,468,138  
  3,690    
Viant Holdings, Inc., Term Loan
   2.54   06/25/14     3,597,353  
       
 
              
       
 
             125,530,027  
       
 
              
       
 
                
        Home & Office Furnishings, Housewares & Durable Consumer Products 0.9%
  5,361    
Generation Brands, LLC, Term Loan (b)
   7.54   06/20/13     1,018,633  
  923    
Hunter Fan Co., Revolving Credit Agreement
   6.75   04/16/13     445,833  
  2,117    
Hunter Fan Co., Term Loan
   2.75 to 7.00   04/16/14 to 10/16/14     1,329,369  
  2,584    
Mattress Holdings Corp., Term Loan
   2.54   01/18/14     1,808,730  
  3,423    
National Bedding Co. LLC, Term Loan
   5.31   02/28/14     2,772,946  
       
 
              
       
 
             7,375,511  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                
Amount           Stated    
(000)   Borrower   Coupon   Maturity *   Value
 
        Hotels, Motels, Inns & Gaming 8.5%            
$ 6,381    
BLB Worldwide Holdings, Inc., Term Loan (b)
   4.75%   07/18/11   $ 3,860,555  
  1,250    
BLB Worldwide Holdings, Inc., Term Loan(b)(d)
   6.50   07/18/12     84,375  
  748    
Cannery Casino Resorts, LLC, Revolving Credit Agreement
   2.24 to 2.25   05/18/12     586,966  
  7,445    
Cannery Casino Resorts, LLC, Term Loan
   2.49 to 4.50   05/18/13 to 05/16/14     6,324,981  
  3,276    
CCM Merger, Inc., Term Loan
   8.50   07/13/12     3,123,364  
  6,750    
Golden Nugget, Inc., Term Loan
   2.25 to 3.50   06/30/14 to 12/31/14     4,315,350  
  8,751    
Greektown Casino, LLC, Term Loan (d)(e)
   7.00   12/03/12     8,543,342  
  2,886    
Greektown Holdings, LLC, Term Loan (b)
   16.75   12/31/09     2,903,552  
  15,105    
Harrah’s Operating Co., Inc., Term Loan
   3.28 to 9.50   01/28/15 to 10/31/16     12,152,919  
  10,032    
Las Vegas Sands LLC, Term Loan
   2.04   05/23/14     8,188,912  
  4,923    
Magnolia Hill, LLC, Term Loan
   3.50   10/30/13     4,381,124  
  2,739    
MGM Mirage, Term Loan
   6.00   10/03/11     2,505,914  
  2,864    
New World Gaming Partners Holdings, Ltd., Term Loan
   2.79   09/30/14     2,373,806  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Hotels, Motels, Inns & Gaming (continued)            
$ 8,040    
Venetian Macau, Ltd., Term Loan
   5.79%   05/25/12 to 05/27/13   $ 7,473,573  
       
 
              
       
 
             66,818,733  
       
 
              
       
 
                
       
Insurance 3.9%
                
  3,904    
Alliant Holdings I, Inc., Term Loan
   3.28   08/21/14     3,640,015  
  8,045    
AmWins Group, Inc., Term Loan
   2.79 to 2.88   06/08/13     6,576,876  
  600    
Applied Systems, Inc., Term Loan
   2.74   09/26/13     570,015  
  2,347    
Audatex North America, Inc., Term Loan
   2.06   05/16/14     2,254,554  
  3,030    
Conseco, Inc., Term Loan
   6.50   10/10/13     2,744,571  
  825    
HMSC Corp., Term Loan
   5.78   10/03/14     441,375  
  3,897    
Mitchell International, Inc., Term Loan
   5.56   03/30/15     2,649,745  
  6,019    
USI Holdings Corp., Term Loan
   3.04   05/05/14     5,241,728  
  6,813    
Vertafore, Inc., Term Loan
   5.50 to 6.39   01/31/13 to 07/31/14     6,525,438  
       
 
              
       
 
             30,644,317  
       
 
              
       
 
                
       
Machinery 1.5%
                
  4,253    
Baldor Electric Co., Term Loan (a)
   5.25   01/31/14     4,250,263  
  4,930    
Goodman Global Inc., Term Loan
   6.25   02/13/14     4,946,022  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                
Amount         Stated      
(000) Borrower   Coupon   Maturity *   Value  
 
        Machinery (continued)            
$ 2,938    
Mold-Masters Luxembourg Holdings SA, Term Loan
   7.00%   10/11/14   $ 2,446,214  
       
 
              
       
 
             11,642,499  
       
 
              
 
        Medical Products & Services 2.2%            
  6,714    
Biomet Inc., Term Loan
   3.25 to 3.29   03/25/15     6,464,798  
  8,238    
Carestream Health, Inc., Term Loan
   2.24 to 2.25   04/30/13     7,724,215  
  3,059    
DJO Finance, LLC, Term Loan
   3.24 to 3.28   05/20/14     2,955,499  
  453    
Orthofix Holdings, Inc., Term Loan
   6.75   09/22/13     449,024  
       
 
              
       
 
             17,593,536  
       
 
              
       
 
                
        Mining, Steel, Iron & Non-Precious Metals 0.1%        
  495    
John Maneely Co., Term Loan
   3.50 to 3.53   12/09/13     454,692  
       
 
              
       
 
                
        Natural Resources 0.1%            
  1,180    
Western Refining, Inc., Term Loan
   8.25   05/30/14     1,152,604  
       
 
              
       
 
                
        Non-Durable Consumer Products 3.6%            
  3,997    
Amscan Holdings, Inc., Term Loan (a)
   2.50 to 3.38   05/25/13     3,631,061  
  5,273    
Huish Detergents, Inc., Term Loan
   2.00   04/26/14     5,079,504  
  6,723    
KIK Custom Products, Inc., Term Loan
   2.54 to 5.28   06/02/14 to 11/30/14     4,049,050  
  2,708    
Mega Brands, Inc., Term Loan (Canada)
   9.75   07/26/12     1,557,143  
  9,895    
Spectrum Brands, Inc., Term Loan
   8.00 to 8.75   06/29/12     9,702,217  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Non-Durable Consumer Products (continued)            
$ 2,200    
Targus Group International, Inc., Term Loan (d)
   10.75%   05/22/13   $ 660,000  
  3,955    
Yankee Candle Co., Inc., Term Loan
   2.25   02/06/14     3,702,753  
       
 
              
       
 
             28,381,728  
       
 
              
       
 
                
        Paper & Forest Products 1.1%            
  2,400    
Ainsworth Lumber Co, Ltd, Term Loan (a)
   5.25   06/26/14     1,888,001  
  1,805    
Georgia Pacific Corp., Term Loan
   2.28 to 3.71   12/20/12 to 12/20/14     1,762,018  
  2,183    
Tidi Products, LLC, Term Loan (f)
   3.26 to 4.74   12/29/11 to 06/29/12     2,084,291  
  400    
Verso Paper Holding, LLC, Term Loan (b)
   6.73 to 7.48   02/01/13     138,532  
  7,375    
White Birch Paper Co., Term Loan (Canada) (b)(d)
   7.00   05/08/14     2,489,167  
       
 
              
       
 
             8,362,009  
       
 
              
       
 
                
        Pharmaceuticals 1.9%            
  6,500    
Mylan Laboratories, Inc., Term Loan
   3.50 to 3.56   10/02/14     6,337,500  
  5,419    
Nyco Holdings 2 ApS, Term Loan (Denmark)
   2.53 to 3.28   12/29/14 to 12/29/15     5,024,488  
  3,500    
Warner Chilcott, LLC, Term Loan
   5.50 to 5.75   10/30/14 to 04/30/15     3,511,211  
       
 
              
       
 
             14,873,199  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                
Amount           Stated    
(000)   Borrower   Coupon   Maturity *   Value
 
        Printing & Publishing 5.5%            
$ 4,038    
Cygnus Business Media, Inc., Term Loan
   9.75%   06/30/13   $ 3,997,847  
  2,354    
Dex Media West, LLC, Term Loan (e)
   7.00   10/24/14     2,079,468  
  11,260    
Endurance Business Media, Inc., Term Loan (d)(f)
   4.75 to 11.25   07/26/13 to 01/26/14     3,486,805  
  11,623    
F&W Publications, Inc., Term Loan (d)
   6.50   08/05/12 to 02/05/13     3,911,867  
  9,173    
Gatehouse Media Inc., Term Loan
   2.25   08/28/14     3,569,925  
  1,241    
Idearc, Inc., Term Loan (d)(e)
   6.25   11/17/14     567,497  
  1,586    
Knowledgepoint 360 Group, LLC, Term Loan
   3.68 to 7.43   04/14/14 to 04/13/15     1,089,148  
  1,656    
MC Communications, LLC, Term Loan (b)(f)
   6.75   12/31/12     948,973  
  3,066    
MediaNews Group, Inc., Term Loan
   6.74   12/30/10 to 08/02/13     948,574  
  3,254    
Merrill Communications, LLC, Term Loan (b)
   12.75 to 15.00   11/15/13     1,879,015  
  5,368    
Network Communications, Inc., Term Loan
   2.24 to 3.22   11/30/12     3,730,465  
  469    
Proquest CSA, LLC, Term Loan
   2.76 to 2.79   02/09/14     452,344  
  66,667    
Tribune Co., Bridge Loan (d)(e)(f)
   8.25   12/20/15     1,333,333  
  17,662    
Tribune Co., Term Loan (d)(e)
   5.25   06/04/14     8,367,168  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Printing & Publishing (continued)            
$ 9,373    
Yell Group PLC, Term Loan (United Kingdom)
   2.53 to 3.28%   04/30/11 to 10/26/12   $ 6,818,457  
       
 
              
       
 
             43,180,886  
       
 
              
       
 
                
        Restaurants & Food Service 2.8%            
  4,424    
Advantage Sales & Marketing, Inc., Term Loan (a)
   2.29   03/29/13     4,213,882  
  8,679    
Aramark Corp., Term Loan (a)
   2.12 to 2.16   01/27/14     7,981,263  
  3,084    
Center Cut Hospitality, Inc., Term Loan
   2.89   07/06/14     2,883,880  
  4,516    
NPC International, Inc., Term Loan
   2.00 to 2.04   05/03/13     4,296,050  
  2,565    
Volume Services America, Inc., Term Loan
   9.25   12/31/12     2,475,267  
       
 
              
       
 
             21,850,342  
       
 
              
       
 
                
        Retail — Oil & Gas 0.5%            
  4,184    
The Pantry, Inc., Term Loan
   1.75   05/15/14     3,966,686  
       
 
              
       
 
                
        Retail — Stores 2.7%            
  3,491    
Dollar General Corp., Term Loan
   2.99 to 5.00   07/07/14     3,345,288  
  7,462    
General Nutrition Centers, Inc., Term Loan
   2.50 to 2.54   09/16/13     6,926,007  
  3,819    
Guitar Center, Inc., Term Loan
   3.75   10/09/14     3,184,073  
  5,062    
Rite Aid Corp., Term Loan
   6.00   06/04/14     4,758,686  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Retail — Stores (continued)        
$ 2,970    
Sally Holdings, Inc., Term Loan
   2.49 to 2.62%   11/16/13   $ 2,836,066  
       
 
              
       
 
             21,050,120  
       
 
              
       
 
                
        Telecommunications — Local Exchange Carriers 1.7%        
  3,342    
Global Tel*Link Corp., Term Loan
   9.00   02/14/13     3,283,732  
  4,990    
Intelsat Corp., Term Loan
   2.75   01/03/14     4,725,417  
  836    
Orius Corp., LLC, Term Loan (c)(d)(e)(f)(g)
   6.75   01/23/09     8,108  
  618    
Orius Corp., LLC, Term Loan (c)(d)(e)(f)
   7.25   01/23/10     5,996  
  1,166    
Paetec Holding Corp., Term Loan
   2.74   02/28/13     1,108,835  
  4,618    
Sorenson Communications, Inc., Term Loan
   2.75 to 7.24   08/16/13 to 02/16/14     4,357,024  
       
 
              
       
 
             13,489,112  
       
 
              
       
 
                
        Telecommunications — Long Distance 0.7%        
  6,017    
Level 3 Communications, Inc., Term Loan
   2.53 to 11.50   03/13/14     5,527,487  
       
 
              
       
 
                
        Telecommunications — Wireless 2.3%        
  6,772    
Asurion Corp., Term Loan (a)
   3.24 to 3.25   07/03/14     6,439,612  
  4,057    
CommScope, Inc., Term Loan
   2.74 to 2.78   12/26/14     3,933,637  
  740    
MetroPCS Wireless, Inc., Term Loan
   2.50 to 2.75   11/04/13     696,639  
  6,818    
NTELOS Inc., Term Loan
   5.75   08/07/15     6,866,475  
       
 
              
       
 
             17,936,363  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Textiles & Leather 2.5%            
$ 5,959    
Gold Toe Investment Corp., Term Loan
   8.50 to 11.75%   10/30/13 to 04/30/14   $ 4,194,520  
  1,359    
HanesBrands, Inc., Term Loan
   5.03   09/05/13     1,367,410  
  4,650    
HBI Branded Apparel Ltd., Inc., Term Loan
   3.99   03/05/14     4,504,688  
  4,850    
Levi Strauss & Co., Term Loan
   2.50   03/27/14     4,474,125  
  3,345    
Saint John Knits International, Inc., Term Loan
   9.25   03/23/12     2,709,192  
  2,973    
Varsity Brands, Inc., Term Loan
   3.00 to 4.75   02/22/14     2,526,874  
       
 
              
       
 
             19,776,809  
       
 
              
        Transportation — Cargo 0.2%            
  948    
Cardinal Logistics Management, Inc., Term Loan (b)(f)
   12.50   09/23/13     652,104  
  926    
JHCI Acquisitions, Inc., Term Loan
   2.75   06/19/14     795,489  
       
 
              
       
 
             1,447,593  
       
 
              
        Utilities 11.7%            
  1,647    
Bicent Power, LLC, Term Loan
   2.29   06/30/14     1,535,750  
  544    
Boston Generating, LLC, Term Loan
   2.53 to 2.72   12/20/13     388,200  
  4,957    
BRSP, LLC, Term Loan
   7.50   06/24/14     4,659,570  
  25,936    
Calpine Corp., Term Loan
   3.17   03/29/14     23,764,184  
  13,098    
Firstlight Power Resources, Inc., Term Loan
   2.81 to 4.81   11/01/13 to 05/01/14     11,560,790  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon   Maturity *   Value  
 
        Utilities (continued)            
$ 5,500    
Longview Power, LLC, Term Loan
   2.56%   02/28/14   $ 4,950,000  
  187    
Mach Gen, LLC, Term Loan
   2.28   02/22/13     174,300  
  14,889    
NRG Energy, Inc., Term Loan
   1.99 to 2.03   02/01/13     14,045,576  
  1,772    
NSG Holdings, LLC, Term Loan
   1.80   06/15/14     1,683,008  
  6,113    
Primary Energy Operating, LLC, Term Loan
   11.00   02/24/10     5,899,367  
  15,205    
Texas Competitive Electric Holdings Co., LLC, Term Loan
   3.74 to 3.78   10/10/14     11,727,944  
  260    
TPF Generation Holdings, LLC, Revolving Credit Agreement
   2.29   12/15/11     248,062  
  7,779    
TPF Generation Holdings, LLC, Term Loan
   2.24 to 4.53   12/15/13 to 12/15/14     6,984,838  
  4,419    
USPF Holdings, LLC, Term Loan
   2.00   04/11/14     4,197,581  
       
 
              
       
 
             91,819,170  
       
 
              
Total Variable Rate** Senior Loan Interests 155.4%     1,218,187,410  
       
 
              
       
 
                
       
Notes 3.1%
                
        Chemicals, Plastics & Rubber 0.1%            
  1,048    
Wellman, Inc. (b)(f)
   5.00   01/30/19     1,048,000  
       
 
              

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
                         
Principal                    
Amount             Stated      
(000)     Borrower   Coupon Maturity *   Value  
 
        Construction Material 1.0%            
$ 5,800    
Builders FirstSource, Inc. (i)
   4.69 % 02/15/12   $ 5,626,000  
  2,700    
Compression Polymers Corp. (i)
   7.87   07/01/12     2,281,500  
       
 
              
       
 
             7,907,500  
       
 
              
 
        Containers, Packaging & Glass 0.2%            
  1,500    
Berry Plastics Group, Inc. (i)
   5.03   02/15/15     1,387,500  
       
 
              
 
        Ecological 0.0%            
  560    
Environmental Systems Products Holdings, Inc. (f)
   18.00   03/31/15     0  
       
 
              
 
        Healthcare 0.9%            
  6,167    
Apria Healthcare Group, Inc.
   11.25   11/01/14     6,706,250  
       
 
              
 
        Hotels, Motels, Inns & Gaming 0.3%            
  2,000    
Wynn Las Vegas, LLC
   6.63   12/01/14     1,910,000  
       
 
              
 
        Paper & Forest Products 0.1%            
  1,500    
Verso Paper Holding, LLC (i)(j)
   4.23   08/01/14     990,000  
       
 
              
 
        Telecommunications — Local Exchange Carriers 0.5%            
  4,500    
Qwest Corp. (i)
   3.55   06/15/13     4,207,500  
       
 
              
 
     Total Notes 3.1%         24,156,750  
       
 
              
       
 
                
Equities 0.4%            
Building Materials Holding Corp. (Warrants for 27,689 common shares, Expiration date 09/30/15, Acquired 10/09/08, Cost $0) (f)(k)(l)
     0  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
         
Description   Value
 
Equities (continued)
        
Comdisco Holdings Co., Inc. (7 common shares, Acquired 09/04/08, Cost $68) (k)(l)
   $ 59  
CTM Media Holdings, Inc. (2,543 common shares, Acquired 09/15/09, Cost $35,444) (k)
     1,908  
Cygnus Business Media Inc. (5,882 common shares, Acquired 09/29/09, Cost $1,251,821) (f)(h)(k)
     1,251,821  
Environmental Systems Products Holdings, Inc. (9,333 common shares, Acquired 09/27/07, Cost $0) (f)(k)(l)
     0  
Environmental Systems Products Holdings, Inc. (4,275 preferred shares, Acquired 09/27/07, Cost $106,875) (f)(k)(l)
     0  
Euramax International, Inc. (4,207 common shares, Acquired 07/09/09, Cost $4,543,100) (f)(k)
     136,731  
Gentek, Inc. (Canada) (Warrants for 821 common shares, Expiration date 11/10/10, Acquired 10/17/06, Cost $0) (k)
     41,707  
IAP Worldwide Services, Inc. (Warrants for 17,576 common shares, Expiration date 06/11/15, Acquired 06/18/2008, Cost $0) (f)(k)(l)
     0  
IAP Worldwide Services, Inc. (Warrants for 39,841 common shares, Expiration date 06/12/15, Acquired 06/18/2008, Cost $0) (f)(k)(l)
     0  
IDT Corp. (7,632 common shares, Acquired 01/29/04, Cost $0) (k)
     29,917  
MC Communications, LLC (333,084 common shares, Acquired 07/08/09, Cost $0) (f)(k)
     0  
Newhall Holding Co., LLC (343,321 common shares, Acquired 08/24/09, Cost $3,096,884) (k)
     635,144  
Safelite Realty (28,448 common shares, Acquired 10/26/00, Cost $0) (f)(k)(l)
     0  
Vitruvian Exploration, LLC (40,110 common shares, Acquired 10/19/09, Cost $1,717,401) (f)(k)
     288,792  

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
         
Description   Value  
 
Equities (continued)
        
WCI Communities, Inc. (6,756 common shares, Acquired 09/23/09, Cost $759,755) (k)
   $ 472,920  
Wellman, Inc. (1,048 common shares, Acquired 02/12/09 & 06/16/09, Cost $2,941,862) (f)(k)
     497,800  
 
      
Total Equities 0.4%
     3,356,799  
 
      
 
        
Total Long-Term Investments 158.9%
(Cost $1,548,410,997)
     1,245,700,959  
Time Deposit 1.3%
        
State Street Bank & Trust Co. ($10,002,530 par, 0.01% coupon, dated 10/31/09, to be sold on 11/02/09 at $10,002,536) (a) (Cost $10,002,530)
     10,002,530  
 
      
 
        
Total Investments 160.2%
(Cost $1,558,413,527)
     1,255,703,489  
 
        
Borrowings (13.6%)
     (107,000,000 )
 
        
Preferred Shares (including accrued distributions) (44.7%)
     (350,067,115 )
 
        
Liabilities in Excess of Other Assets (1.9%)
     (14,571,423 )
 
      
 
        
Net Assets 100.0%
   $ 784,064,951  
 
      
 
Percentages are calculated as a percentage of net assets applicable to common shares.
 
(a)   All or a portion of this security is designated in connection with unfunded loan commitments.
 
(b)   All or a portion of this security is payment-in-kind.
 
(c)   This borrower is currently in liquidation.
 
(d)   This Senior Loan interest is non-income producing.
 
(e)   This borrower has filed for protection in federal bankruptcy court.
 
(f)   Market value is determined in accordance with procedures established in good faith by the Board of Trustees.
 
(g)   Senior loan is past due.
 
(h)   Affiliated company.
 
(i)   Variable rate security. Interest rate shown is that in effect at October 31, 2009.

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
     
(j)   144A-Private Placement security which is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. This security may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers.
 
(k)   Non-income producing security.
 
(l)   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.
 
*   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 or (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.
                 
Ratings Allocation as of 10/31/09 (Unaudited)                
BBB/Baa
     4.3 %        
BB/Ba
     35.9 %        
B/B
     31.4 %        
CCC/Caa
     8.0 %        
CC/Ca
     0.2 %        
C/C
     0.8 %        
Non-Rated
     19.4 %        
Ratings allocations are as a percentage of long-term debt obligations. Ratings allocations based upon ratings as issued by Standard and Poor’s and Moody’s, respectively. Bank Loans rated below BBB by Standard and Poor’s or Baa by Moody’s are considered to be below investment grade.

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
Swap agreements outstanding as of October 31, 2009:
Credit Default Swaps
                                                         
            Pay/                                     Credit  
            Receive             Notional                     Rating of  
    Reference   Buy/Sell   Fixed     Expiration     Amount     Upfront             Reference  
Counterparty   Entity   Protection   Rate     Date     (000)     Payments     Value     Entity *  
Goldman Sachs International
  
Calpine Corp.
   Sell     5.000 %     03/20/10     $ 1,500     $ (165,000 )   $ 13,003       B    
Goldman Sachs International
  
Calpine Corp.
   Sell     5.000       03/20/11       2,000       (65,000 )     (28,774 )     B    
Goldman Sachs International
  
Texas Competitive Electric Holdings Co., LLC
   Sell     2.850       06/20/10       5,000       0       (149,346 )     B-  
Goldman Sachs International
  
Texas Competitive Electric Holdings Co., LLC
   Sell     5.000       06/20/10       3,000       (97,500 )     (43,750 )     B-  
 
                                                    
Total Credit Default Swaps
                             $ (327,500 )   $ (208,867 )        
 
                                                    
Swap Collateral Pledged to Counterparty
                                              
Goldman Sachs International
                                       50,000          
 
                                                      
Total Swap Agreements
                                     $ (158,867 )        
 
                                                      
 
*   Credit rating as issued by Standard and Poor’s (Unaudited).
Security Valuation The Trust’s Senior Loans and notes are valued by the Trust following valuation guidelines established and periodically reviewed by the Trust’s Board of Trustees. Under the valuation guidelines, Senior Loans and notes for which reliable market quotes are readily available are valued at the mean of such bid and ask quotes. Where reliable market quotes are not readily available, Senior Loans and notes are valued, where possible, using independent market indicators provided by independent pricing sources approved by the Board of Trustees. Other Senior Loans and notes are valued by independent pricing sources approved by the Board of Trustees based upon pricing models developed, maintained and operated by those pricing sources or valued by Van Kampen Asset Management (the “Adviser”) by considering a number of factors including consideration of market indicators, transactions in instruments which the Adviser believes may be comparable (including comparable credit quality, interest rate, interest rate redetermination period and maturity), the credit worthiness of the Borrower, the current interest rate, the period until next interest rate redetermination and the maturity of such Senior Loan. Consideration of comparable instruments may include commercial paper, negotiable certificates of deposit and short-term variable rate securities which have adjustment periods comparable to the Senior Loans in the Trust’s portfolio. The fair value of Senior Loans are reviewed and approved by the Trust’s Valuation Committee and the Board of Trustees. Credit default swaps are valued using market quotations obtained from brokers. Equity securities are valued on the basis of prices furnished by pricing services or

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
as determined in good faith by the Adviser under the direction of the Board of Trustees. Short-term securities with remaining maturities of 60 days or less are valued at amortized cost, which approximates fair value. Short-term loan participations are valued at cost in the absence of any indication of impairment. The Trust adopted the provisions of the FASB Staff Position Paper No. FAS 133-1 and FIN 45-4, Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No. 133 and FASB Interpretation No. 45 (“FSP FAS 133-1 and FIN 45-4”), effective November 30, 2008. FSP FAS 133-1 and FIN 45-4 requires the seller of credit derivatives to provide additional disclosure about its credit derivatives.
The Trust may enter into credit default swap contracts, a type of credit derivative, for hedging purposes or to gain exposure to a credit or index of credits in which the Trust may otherwise invest. A credit default swap is an agreement between two parties to exchange the credit risk of an issuer or index of issuers. A buyer of a credit default swap is said to buy protection by paying periodic fees in return for a contingent payment from the seller if the issuer has a credit event such as bankruptcy, a failure to pay outstanding obligations or deteriorating credit while the swap is outstanding. A seller of a credit default swap is said to sell protection and thus collects the periodic fees and profits if the credit of the issuer remains stable or improves while the swap is outstanding. The seller in a credit default swap contract would be required to pay an agreed-upon amount to the buyer in the event of an adverse credit event of the issuer. This agreed-upon amount approximates the notional amount of the swap as disclosed in the table following the Portfolio of Investments and is estimated to be the maximum potential future payment that the seller could be required to make under the credit default swap contract. In the event of an adverse credit event, the seller generally does not have any contractual remedies against the issuer or any other third party. However, if a physical settlement is elected, the seller would receive the defaulted credit and, as a result, become a creditor of the issuer.
The current credit rating of each individual issuer is listed in the table following the Portfolio of Investments and serves as an indicator of the current status of the payment/performance risk of the credit derivative. Alternatively, for credit default swaps on an index of credits, the quoted market prices and current values serve as an indicator of the current status of the payment/performance risk of the credit derivative. Generally, lower credit ratings and increasing market values, in absolute terms, represent a deterioration of the credit and a greater likelihood of an adverse credit event of the issuer.
Credit default swaps may involve greater risks than if a Trust had invested in the issuer directly. Credit default swaps are subject to general market risk, counterparty risk and credit risk. Swap agreements are not entered into or traded on exchanges and there is no central clearing or guaranty function for swaps. Therefore, swaps are subject to the risk of default or non-performance by the counterparty. If there is a default by the counterparty to a swap agreement, the Trust will have contractual remedies pursuant to the agreements related to the transaction. Counterparties are required to pledge collateral daily (based on the valuation of each swap) on behalf of the Trust with a value approximately equal to the amount of any unrealized gain. Reciprocally, when the Trust has an unrealized loss on a swap contract, the Trust has instructed the custodian to pledge cash or liquid securities as collateral with a value approximately equal to the amount of the unrealized loss. Collateral pledges are monitored and subsequently adjusted if and when the swap valuations fluctuate. Cash collateral is disclosed in the table following the Portfolio of Investments. For cash collateral received, the Trust pays a monthly fee to the counterparty based on the effective rate for Federal Funds.
Fair Value Measurements Financial Accounting Standards Board Accounting Standards Codification (ASC) 820 Fair Value Measurements and Disclosures (ASC 820) (formerly known as FAS 157) defines fair value as the price that the Trust would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. ACS 820 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Trust’s investments. The inputs are summarized in the three broad levels listed below.
Level 1 — quoted prices in active markets for identical investments
Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3 — significant unobservable inputs (including the Trust’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
The following is a summary of the inputs used as of October 31, 2009 in valuing the Trust’s investments carried at value.
                                 
            Level 3    
    Level 1   Level 2   Significant        
    Quoted   Other Significant   Unobservable        
Investment   Prices   Observable Inputs   Inputs   Total
 
Investments in an Asset Position:
                                
Variable Rate Senior Loan Interests
   $ —     $ 1,199,189,556     $ 18,997,854     $ 1,218,187,410  
Notes
     —       23,108,750       1,048,000       24,156,750  
Equities
                                
Buildings & Real Estate
     1,108,064       —       —       1,108,064  
Chemicals, Plastics & Rubber
     —       —       497,800       497,800  
Diversified Manufacturing
     —       —       136,731       136,731  
Finance
     59       —       —       59  
Natural Resources
     —       —       288,792       288,792  
Paper & Forest Product
     41,707       —       —       41,707  
Printing & Publishing
     —       —       1,251,821       1,251,821  
Telecommunications -
     31,825       —       —       31,825  
Local Exchange Carriers
                                
Short-term Investments
     —       10,002,530       —       10,002,530  
Credit Default Swap
     —       13,003       —       13,003  
Unfunded Commitments
     —       11,302       —       11,302  
     
Total Investments in an Asset Position
   $ 1,181,655     $ 1,232,325,141     $ 22,220,998     $ 1,255,727,794  
     
 
                                
Investments in a Liability Position:
                                
Unfunded Commitments
   $ —     $ (8,696,949 )   $ —     $ (8,696,949 )
Credit Default Swap
     —       (221,870 )     —       (221,870 )
     
Total Investments in a Liability Position
   $ —     $ (8,918,819 )   $ —     $ (8,918,819 )
     

 

 

Van Kampen Senior Income Trust
Portfolio of Investments § October 31, 2009 (Unaudited) continued
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:
                                                                         
    Investments in Loans and Securities                
                    Equities                
                                    Hotels,                            
    Variable Rate             Chemicals,             Motels,                            
    Senior Loan             Plastics &     Diversified     Inns &     Natural     Printing &             Unfunded  
    Interests     Notes     Rubber     Manufacturing     Gaming     Resources     Publishing     Total     Commitments  
Balance as of 7/31/09
   $ 26,003,689     $ 1,048,000     $ 611,330     $ 214,562     $ 15,250     $ —     $ —     $ 27,892,831     $ (6,973 )
Accrued Discounts/Premiums
     17,027       —       —       —       —       —       —       17,027       —  
Realized Gain/Loss
     (1,884,752 )     —       —       —       54,880       —       —       (1,829,872 )     —  
Change in Unrealized Appreciation/Depreciation
     (68,563 )     —       (113,530 )     (77,831 )     (15,250 )     (1,428,609 )     —       (1,703,783 )     6,973  
Net Purchases/Sales
     1,877,768       —       —       —       (54,880 )     1,717,401       1,251,821       4,792,110       —  
Net Transfers In and/or Out of Level 3*
     (6,947,315 )     —       —       —               —       —       (6,947,315 )     —  
     
 
                                                                        
Balance as of 10/31/09
   $ 18,997,854     $ 1,048,000     $ 497,800     $ 136,731     $ —     $ 288,792     $ 1,251,821     $ 22,220,998     $ —  
           
 
                                                                        
Net Change in Unrealized Appreciation/Depreciation from investments still held as of 10/31/09                           $ (3,599,885 )   $ —  
 
                                                                    
 
*   The value of Net Transfers In and/or Out of Level 3 was measured using the market value as of the beginning of the period for transfers in and the market value as of the end of the period for transfers out.

 

 

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:
Name:
  /s/ Edward C. Wood III
 
Edward C. Wood III 		   
Title:
  Principal Executive Officer    
Date:
  December 17, 2009    
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:
Name:
  /s/ Edward C. Wood III
 
Edward C. Wood III 		   
Title:
  Principal Executive Officer    
Date:
  December 17, 2009    
 
        
By:
  /s/ Stuart N. Schuldt    
 
       
Name:
  Stuart N. Schuldt    
Title:
  Principal Financial Officer    
Date:
  December 17, 2009