SEMI-ANNUAL REPORT - First Investors

Portfolio of Investments (continued)
FUND FOR INCOME
March 31, 2014
Principal
Amount Security Value
Metals/Mining (continued)
Arch Coal, Inc.:
$ 325 M 7%, 6/15/2019 $ 252,687
2,475 M 7.25%, 10/1/2020 1,911,937
2,400 M 7.25%, 6/15/2021 1,824,000
FMG Resources (August 2006) Property, Ltd.:
3,675 M 6.875%, 2/1/2018 (a) 3,881,719
1,350 M 8.25%, 11/1/2019 (a) 1,490,062
5,025 M JMC Steel Group, 8.25%, 3/15/2018 (a) 5,156,906
1,000 M Kaiser Aluminum Corp., 8.25%, 6/1/2020 1,132,500
Novelis, Inc.:
6,475 M 8.375%, 12/15/2017 6,936,344
1,850 M 8.75%, 12/15/2020 2,076,625
Peabody Energy Corp.:
2,050 M 6%, 11/15/2018 2,160,188
1,700 M 6.5%, 9/15/2020 1,763,750
2,525 M 6.25%, 11/15/2021 2,543,938
Steel Dynamics, Inc.:
1,200 M 6.125%, 8/15/2019 1,311,000
675 M 6.375%, 8/15/2022 737,438
United States Steel Corp.:
550 M 7%, 2/1/2018 611,875
1,275 M 7.375%, 4/1/2020 1,402,500
1,925 M Wise Metals Group, LLC, 8.75%, 12/15/2018 (a) 2,074,188
55,849,012
Real Estate Investment Trusts—.3%
2,162 M Taylor Morrison Communities, Inc., 7.75%, 4/15/2020 (a) 2,394,415
Retail-General Merchandise—2.3%
800 M Chinos Intermediate Holdings A, Inc., 7.75%, 5/1/2019 (a) 828,000
1,635 M Jo-Ann Stores, Inc., 8.125%, 3/15/2019 (a) 1,704,488
2,975 M Landry’s, Inc., 9.375%, 5/1/2020 (a) 3,291,094
3,125 M Limited Brands, Inc., 8.5%, 6/15/2019 3,796,875
2,275 M Michaels Stores, Inc., 7.75%, 11/1/2018 2,442,781
2,250 M Party City Holdings, Inc., 8.875%, 8/1/2020 2,517,188
1,800 M Sally Holdings, LLC, 6.875%, 11/15/2019 1,980,000
16,560,426
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