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        <name>Transocean International Ltd.</name>
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        <name>Enova International Inc.</name>
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        <name>Simmons Foods Inc / Simmons Prepared Foods Inc / Simmons Pet Food Inc / Simmons Feed (Ingredients Inc)</name>
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        <name>Discovery Communications, LLC</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Fair Isaac Corporation</name>
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        <name>Consolidated Energy Finance S.A.</name>
        <lei>549300PUNIS0USNSL750</lei>
        <title>CONSEN 12 02/15/31 144A</title>
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        <invCountry>LU</invCountry>

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        <name>Smyrna Ready Mix Concrete LLC</name>
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        <title>SMYREA 6 11/01/28 144A</title>
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        <name>Arbor Realty Senior Incorporated</name>
        <lei>549300TW7RTL2CI3CN08</lei>
        <title>ABR 8.5 12/15/28 144A</title>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>DIRECTV FINANCING LLC</name>
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        <name>Molina Healthcare, Inc.</name>
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        <name>Talen Energy Supply LLC</name>
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        <name>Amentum Escrow Corp.</name>
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        <name>SLM CORP (SALLIE MAE)</name>
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        <name>Discovery Global Holdings Inc.</name>
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        <name>Oak-Eagle AcquireCo Inc.</name>
        <lei>6488ICS9P20290MA1H31</lei>
        <title>EA 7.25 07/01/33 144A</title>
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        <name>LBM Acquisition LLC</name>
        <lei>549300FAEB3VWZL4NI86</lei>
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        <cusip>52109SAB5</cusip>
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          <isin value="US52109SAB51"/>
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        <curCd>USD</curCd>
        <valUSD>1571156.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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      <invstOrSec>
        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>RIG 8.75 02/15/30 144A</title>
        <cusip>893830BX6</cusip>
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          <isin value="US893830BX61"/>
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        <balance>883400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>921486.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>Champ Acquisition Corp</name>
        <lei>N/A</lei>
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        <cusip>15807XAA8</cusip>
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          <isin value="US15807XAA81"/>
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        <balance>1102000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1155038.16000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>Gulfport Energy Operating Corp.</name>
        <lei>549300FJX18IDUFPHD40</lei>
        <title>GPOR 6.75 09/01/29 144A</title>
        <cusip>402635AT3</cusip>
        <identifiers>
          <isin value="US402635AT32"/>
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        <balance>995000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1017606.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Upbound Group Inc</name>
        <lei>529900QUHE15UQNCCJ63</lei>
        <title>UPBD 6.375 02/15/29 144A</title>
        <cusip>76009NAL4</cusip>
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          <isin value="US76009NAL47"/>
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        <balance>3049000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2954552.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Mativ Holdings Inc</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>MATV 8 10/01/29 144A</title>
        <cusip>808541AC0</cusip>
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          <isin value="US808541AC08"/>
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        <balance>3106000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2892871.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc.</name>
        <lei>984500A0805D8V551D35</lei>
        <title>FRTITA 6.75 01/15/30 144A</title>
        <cusip>31556TAC3</cusip>
        <identifiers>
          <isin value="US31556TAC36"/>
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        <balance>1335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1246959.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chord Energy Corp.</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
        <title>CHRD 6 10/01/30 144A</title>
        <cusip>674215AQ1</cusip>
        <identifiers>
          <isin value="US674215AQ11"/>
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        <balance>1940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1965743.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Group 1 Automotive, Inc.</name>
        <lei>549300US8QAZJLWYAF63</lei>
        <title>GPI 6.375 01/15/30 144A</title>
        <cusip>398905AQ2</cusip>
        <identifiers>
          <isin value="US398905AQ20"/>
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        <balance>1410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1419458.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>LifePoint Health, Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>RGCARE 11 10/15/30 144A</title>
        <cusip>53219LAW9</cusip>
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          <isin value="US53219LAW90"/>
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        <balance>879000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>945338.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
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      <invstOrSec>
        <name>Osaic Holdings Inc.</name>
        <lei>549300XL60BDV6UW5C86</lei>
        <title>ADVGRO 8 08/01/33 144A</title>
        <cusip>00791GAC1</cusip>
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          <isin value="US00791GAC15"/>
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        <balance>965000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Light &amp; Wonder International Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
        <title>LNW 6.25 10/01/33 144A</title>
        <cusip>531968AB1</cusip>
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        <balance>1677000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1642940.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLF 6.25 10/01/40</title>
        <cusip>18683KAC5</cusip>
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          <isin value="US18683KAC53"/>
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        <balance>1050000.00000000</balance>
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        <valUSD>828848.42000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2040-10-01</maturityDt>
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        <name>Celanese US Holdings Llc</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
        <title>CE 7.2 11/15/33</title>
        <cusip>15089QAY0</cusip>
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          <isin value="US15089QAY08"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2033-11-15</maturityDt>
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        <name>NEXSTAR MEDIA GROUP INC</name>
        <lei>52990083ZRR5UT591988</lei>
        <title>NXST 6.5 09/15/33 144A</title>
        <cusip>65346UAB5</cusip>
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          <isin value="US65346UAB52"/>
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        <balance>1045000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1052961.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-15</maturityDt>
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      <invstOrSec>
        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>RIG 8.5 05/15/31 144A</title>
        <cusip>893830BZ1</cusip>
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          <isin value="US893830BZ10"/>
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        <balance>835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>875746.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>INEOS Finance PLC</name>
        <lei>2138002D68XDR4LZCG32</lei>
        <title>INEGRP 6.75 05/15/28 144A</title>
        <cusip>44984WAH0</cusip>
        <identifiers>
          <isin value="US44984WAH07"/>
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        <balance>2415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2333945.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Seadrill Finance Ltd.</name>
        <lei>213800WMN3OHFUDHD642</lei>
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        <name>OneMain Financial Corporation</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Insulet Corporation</name>
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        <name>CRC INSURANCE GROUP LLC</name>
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          <isin value="US69867RAA59"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>AXL 6.875 07/01/28</title>
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        <name>FIRSTCASH HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virtus ETF Trust II</name>
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        <title>Virtus Seix Senior Loan ETF</title>
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        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Winnebago Industries Inc.</name>
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        <title>WGO 3.25 01/15/30</title>
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              <title>Winnebago Industries Inc</title>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>LVLT 7 03/31/34 144A</title>
        <cusip>527298CN1</cusip>
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        <name>LifePoint Health, Inc</name>
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        <name>Jefferson Capital Holdings LLC</name>
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        <title>JEFCAP 9.5 02/15/29 144A</title>
        <cusip>472481AB6</cusip>
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        <name>Quikrete Holdings Inc</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>QUIKHO 6.375 03/01/32 144A</title>
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        <name>Connect Finco SARL/Connect US Finco LLC</name>
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        <title>ISATLN 9 09/15/29 144A</title>
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        <name>DBR Land Holdings LLC</name>
        <lei>N/A</lei>
        <title>LB 6.25 12/01/30 144A</title>
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        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>RIG 7.5 04/15/31</title>
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        <invCountry>BM</invCountry>

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        <name>Arcosa Inc</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>ACA 6.875 08/15/32 144A</title>
        <cusip>039653AC4</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Mineral Resources Ltd.</name>
        <lei>5299007V1ACKFFX2P066</lei>
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        <name>White Cap Supply Holdings LLC</name>
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        <name>Caesars Entertainment Inc.</name>
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        <name>ARETEC ESCROW ISSUER 2 INC</name>
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        <name>Ascent Resources Utica Holdings LLC / ARU Finance Corp</name>
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        <name>Danaos Corp.</name>
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        <name>Warrior Met Coal Inc</name>
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        <name>Encore Capital Group Inc.</name>
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        <name>Enova International Inc.</name>
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        <name>TransDigm, Inc.</name>
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        <name>Magnera Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Companies Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Freedom Mortgage Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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      <invstOrSec>
        <name>Freedom Mortgage Corporation</name>
        <lei>549300LYRWPSYPK6S325</lei>
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        <cusip>35640YAL1</cusip>
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          <isin value="US35640YAL11"/>
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        <balance>957000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1032576.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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      <invstOrSec>
        <name>Hawaiian Electric Company, Inc.</name>
        <lei>549300PQE8D806LWQV52</lei>
        <title>HE 6 10/01/33 144A</title>
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          <isin value="US419866AV08"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-01</maturityDt>
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      <invstOrSec>
        <name>ZipRecruiter Inc</name>
        <lei>549300HLOVNNFCY2IV80</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>Magnolia Oil &amp; Gas Operating LLC / Magnolia Oil &amp; Gas Finance Corp</name>
        <lei>984500CG376B0B99F016</lei>
        <title>MGY 6.875 12/01/32 144A</title>
        <cusip>559665AB0</cusip>
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          <isin value="US559665AB08"/>
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        <balance>3020000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp.</name>
        <lei>549300IQ3DN0F3VERF65</lei>
        <title>TEP 7.375 02/15/29 144A</title>
        <cusip>87470LAL5</cusip>
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          <isin value="US87470LAL53"/>
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        <balance>992000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1020507.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>CCO HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>CHTR 7.375 03/01/31 144A</title>
        <cusip>1248EPCT8</cusip>
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          <isin value="US1248EPCT83"/>
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        <balance>1994000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>The Manitowoc Company, Inc.</name>
        <lei>2RTSLGQ89VMY18RHX631</lei>
        <title>MTW 9.25 10/01/31 144A</title>
        <cusip>563571AN8</cusip>
        <identifiers>
          <isin value="US563571AN82"/>
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        <balance>1990000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2078113.22000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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      <invstOrSec>
        <name>Sable International Finance Limited</name>
        <lei>2138009IE9A35LO5JS73</lei>
        <title>CWCLN 7.125 10/15/32 144A</title>
        <cusip>785712AK6</cusip>
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          <isin value="US785712AK68"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Davita Inc</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DVA 6.875 09/01/32 144A</title>
        <cusip>23918KAW8</cusip>
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        <valUSD>1628838.56000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BWX Technologies Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWXT 4.125 06/30/28 144A</title>
        <cusip>05605HAB6</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>ABG 5 02/15/32 144A</title>
        <cusip>043436AX2</cusip>
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        <name>Cable One Inc</name>
        <lei>549300648QS85T0XSH18</lei>
        <title>CABO 1.125 03/15/28</title>
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        <balance>5315000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Cable One Inc</title>
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      <invstOrSec>
        <name>Brookfield Property Reit Inc/Bpr Cumulus Llc/Bpr Nimbus Llc/Ggsi Sellco Llc</name>
        <lei>549300K1JD1LDRNBET48</lei>
        <title>BPYU 5.75 05/15/26 144A</title>
        <cusip>11284DAA3</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Rocket Companies Inc</name>
        <lei>N/A</lei>
        <title>RKT 7.125 02/01/32 144A</title>
        <cusip>77311WAD3</cusip>
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          <isin value="US77311WAD39"/>
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        <balance>511000.00000000</balance>
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        <valUSD>526704.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Hecla Mining Company</name>
        <lei>5493009Y6HOBZD1QD537</lei>
        <title>HL 7.25 02/15/28</title>
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        <name>CLOUD SOFTWARE GROUP HOLDINGS INC</name>
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        <name>Acrisure Llc / Acrisure Fin Inc</name>
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        <name>Dream Finders Homes Inc</name>
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          <maturityDt>2028-08-15</maturityDt>
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        <name>Vistra Corp</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Cable One Inc</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Travel Plus Leisure Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SLM CORP (SALLIE MAE)</name>
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        <title>SLM 6.5 01/31/30</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Fortress Transportation &amp; Infrastructure Investors LLC</name>
        <lei>529900E7PUVK6BC8PE80</lei>
        <title>FTAI 7.875 12/01/30 144A</title>
        <cusip>34960PAE1</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Charter Communications Operating, LLC/Charter Communications Operating Capital Corp.</name>
        <lei>549300TPZNMN50BJ3745</lei>
        <title>CHTR 6.484 10/23/45</title>
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        <name>UWM HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>UWMC 6.625 02/01/30 144A</title>
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        <name>Sealed Air Corp.</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>SEE 6.875 07/15/33 144A</title>
        <cusip>81211KAK6</cusip>
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        <name>Viking Cruises, Ltd.</name>
        <lei>549300IJP90T4MV2GL84</lei>
        <title>VIKCRU 9.125 07/15/31 144A</title>
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        <invCountry>BM</invCountry>

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        <name>Smyrna Ready Mix Concrete LLC</name>
        <lei>549300S7RFWHQFOIOY93</lei>
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        <name>Rocket Companies Inc</name>
        <lei>N/A</lei>
        <title>RKT 6.375 08/01/33 144A</title>
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        <name>Pennymac Financial Services Inc</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PFSI 6.875 02/15/33 144A</title>
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        <name>Asurion LLC / Asurion Co-Issuer Inc.</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>ASUCOR 8.375 02/01/34 144A</title>
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        <name>Tidewater Inc New</name>
        <lei>2549000JA5GRUPLMUH98</lei>
        <title>TDW 9.125 07/15/30 144A</title>
        <cusip>88642RAE9</cusip>
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        <name>VMED O2 UK Financing I PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Financial Group Inc</name>
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        <name>Paramount Global</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-30</maturityDt>
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        <name>DIRECTV FINANCING LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
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        <name>Shift4 Payments Llc / Shift4 Payments Finance Subordinated Incorporated</name>
        <lei>254900GTEMR7L40VPI74</lei>
        <title>FOUR 6.75 08/15/32 144A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Century Aluminum Company</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Venture Global LNG Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>VENLNG 9.5 02/01/29 144A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>LiveStyle Inc. Series B Preferred</name>
        <lei>N/A</lei>
        <title>LiveStyle Inc. Series B Preferred</title>
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        <assetCat>EP</assetCat>
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        <name>Asurion LLC</name>
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        <title>Asurion First-lien Term Loan B-12 425 2030-09-01</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GoEasy Limited</name>
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        <title>GSYCN 9.25 12/01/28 144A</title>
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        <name>Ggam Finance Ltd.</name>
        <lei>254900X2QXEN0FVXRF65</lei>
        <title>GGAMFI 8 02/15/27 144A</title>
        <cusip>36170JAC0</cusip>
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        <invCountry>KY</invCountry>

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        <name>LGI Homes Inc</name>
        <lei>549300W02B4WNV8CV109</lei>
        <title>LGIH 8.75 12/15/28 144A</title>
        <cusip>50187TAH9</cusip>
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        <name>PRA Group Inc.</name>
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        <title>PRAA 5 10/01/29 144A</title>
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        <name>Organon &amp; Co</name>
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        <name>Angi Group Llc</name>
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        <name>United Wholesale Mortgage LLC</name>
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        <name>Hightower Holding LLC</name>
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        <invCountry>US</invCountry>
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        <name>Freedom Mortgage Holdings LLC</name>
        <lei>254900ROJ91RGM43S156</lei>
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        <name>Rocket Companies Inc</name>
        <lei>N/A</lei>
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        <name>Pennymac Financial Services Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rockies Express Pipeline LLC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>FMCN 8 03/01/33 144A</title>
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        <balance>1045000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1079662.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freedom Mortgage Holdings LLC</name>
        <lei>254900ROJ91RGM43S156</lei>
        <title>FREMOR 8.375 04/01/32 144A</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
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        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>CNC 4.625 12/15/29</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Magnera Corp.</name>
        <lei>549300LDQLQBT38QDY28</lei>
        <title>MAGN 7.25 11/15/31 144A</title>
        <cusip>55939AAA5</cusip>
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        <balance>1470000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>MasterBrand Inc</name>
        <lei>549300E0Y4BR5Z9RDZ64</lei>
        <title>MASBRA 7 07/15/32 144A</title>
        <cusip>57638PAA2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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        <name>Bath &amp; Body Works Inc</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>BBWI 6.75 07/01/36</title>
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        <name>Discovery Global Holdings Inc.</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>WBD 5.05 03/15/42 *</title>
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        <name>Asurion LLC / Asurion Co-Issuer Inc.</name>
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        <title>ASUCOR 8 12/31/32 144A</title>
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        <name>TRUENOORD CAPITAL DAC</name>
        <lei>N/A</lei>
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        <invCountry>IE</invCountry>

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        <name>Whirlpool Corp.</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>WHR 6.125 06/15/30</title>
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        <name>Valaris Ltd.</name>
        <lei>5299008BQ9IREYWBTS30</lei>
        <title>VAL 8.375 04/30/30 144A</title>
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        <invCountry>BM</invCountry>

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        <name>AAR Corp.</name>
        <lei>MP76T5YQX3YK5VVAQ802</lei>
        <title>AIR 6.75 03/15/29 144A</title>
        <cusip>00253PAA6</cusip>
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        <name>Venture Global LNG Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>VENLNG V9 PERP 144a</title>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLF 7.375 05/01/33 144A</title>
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        <name>Under Armour, Inc.</name>
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        <name>Apollo Commercial Real Estate Finance, Inc.</name>
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        <name>Erickson Inc.</name>
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        <name>TRANSOCEAN AQUILA LTD</name>
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        <name>Osaic Holdings Inc.</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance Inc.</name>
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        <name>Station Casinos LLC</name>
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        <name>Wesco Distribution, Inc.</name>
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        <name>Enerflex Inc.</name>
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        <name>NOBLE FINANCE II LLC</name>
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        <name>Prairie Acquiror LP</name>
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        <name>Howden UK Refinance 2 PLC / Howden US Finance LLC</name>
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        <name>New Home Company Inc</name>
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        <name>Allegiant Travel Company</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>Coronado Finance Pty Limited</name>
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        <name>Emergent Biosolutions Inc</name>
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        <name>PROVIDENT FUNDING ASSOCIATES LP / PFG FINANCE CORP</name>
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        <name>PRA Group Inc.</name>
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        <name>Transocean International Ltd.</name>
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        <name>Talen Energy Supply LLC</name>
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        <name>TreeHouse Foods, Inc.</name>
        <lei>5493007M7EVHE470Q576</lei>
        <title>THS 7.75 02/11/33 144A</title>
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      <invstOrSec>
        <name>ARC FALCON I INC</name>
        <lei>N/A</lei>
        <title>NEWARC 9.75 03/01/33 144A</title>
        <cusip>03881HAA8</cusip>
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          <isin value="US03881HAA86"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
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      <invstOrSec>
        <name>Turning Point Brands Inc</name>
        <lei>549300IYG00QF0VVP302</lei>
        <title>TPB 7.625 03/15/32 144A</title>
        <cusip>90041LAG0</cusip>
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          <isin value="US90041LAG05"/>
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        <balance>2280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2333352.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
        <name>New Home Company Inc</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>NWHM 9.25 10/01/29 144A</title>
        <cusip>645370AF4</cusip>
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          <isin value="US645370AF49"/>
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        <balance>3022000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3052664.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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      <invstOrSec>
        <name>Hilcorp Energy I L.P/Hilcorp Finance Co</name>
        <lei>549300ITPIHLG0LHEC09</lei>
        <title>HILCRP 8.375 11/01/33 144A</title>
        <cusip>431318BC7</cusip>
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          <isin value="US431318BC74"/>
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        <balance>3901000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4070038.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>Global Net Lease Inc / Global Net Lease Operating Partnership LP</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>GNL 3.75 12/15/27 144A</title>
        <cusip>37892AAA8</cusip>
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          <isin value="US37892AAA88"/>
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        <balance>1120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1085254.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc.</name>
        <lei>549300FGXN1K3HLB1R50</lei>
        <title>RKT 4 10/15/33 144A</title>
        <cusip>77313LAB9</cusip>
        <identifiers>
          <isin value="US77313LAB99"/>
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        <balance>2434000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2181757.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lightning Power LLC</name>
        <lei>254900BWCHJ03XRL8K59</lei>
        <title>LIGPLL 7.25 08/15/32 144A</title>
        <cusip>53229KAA7</cusip>
        <identifiers>
          <isin value="US53229KAA79"/>
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        <balance>4035000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4194292.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CCO HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>CHTR 7.375 02/01/36 144A</title>
        <cusip>1248EPCV3</cusip>
        <identifiers>
          <isin value="US1248EPCV30"/>
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        <balance>2115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2106215.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>VFH Parent LLC &amp; Valor Co-Issuer Inc.</name>
        <lei>549300FRO9M476YHHY64</lei>
        <title>VIRT 7.5 06/15/31 144A</title>
        <cusip>91824YAA6</cusip>
        <identifiers>
          <isin value="US91824YAA64"/>
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        <balance>1760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1808414.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
        <lei>5299007V1ACKFFX2P066</lei>
        <title>MINAU 9.25 10/01/28 144A</title>
        <cusip>603051AE3</cusip>
        <identifiers>
          <isin value="US603051AE37"/>
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        <balance>988000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1023689.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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      <invstOrSec>
        <name>LUXCO EUR</name>
        <lei>N/A</lei>
        <title>LUXCO EUR</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="DUMLX271943"/>
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        <balance>8058.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virgin Media Secured Finance PLC</name>
        <lei>213800X3RLP4NOTPY579</lei>
        <title>VMED 5.5 05/15/29 144A</title>
        <cusip>92769XAP0</cusip>
        <identifiers>
          <isin value="US92769XAP06"/>
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        <balance>1450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1390665.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cimpress PLC</name>
        <lei>549300X1IFD75XISOR81</lei>
        <title>CMPR 7.375 09/15/32 144A</title>
        <cusip>17186HAH5</cusip>
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          <isin value="US17186HAH57"/>
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        <balance>1990000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Sesi, L.L.C.</name>
        <lei>XDZ56K6RXS5J1ESBZS35</lei>
        <title>SPN 7.875 09/30/30 144A</title>
        <cusip>78412FAX2</cusip>
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          <isin value="US78412FAX24"/>
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        <balance>2276000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2320864.51000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>FMCN 6.375 02/15/36 144A</title>
        <cusip>335934AY1</cusip>
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          <isin value="US335934AY19"/>
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        <balance>2655000.00000000</balance>
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        <valUSD>2540317.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-15</maturityDt>
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        <name>TMS International Corp</name>
        <lei>549300L4K0F1YF8WKF23</lei>
        <title>TMS 6.25 04/15/29 144A</title>
        <cusip>87261QAC7</cusip>
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          <isin value="US87261QAC78"/>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>815425.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer Inc</name>
        <lei>5493006Q26653NF8SI73</lei>
        <title>ALIANT 6.75 10/15/27 144A</title>
        <cusip>01883LAA1</cusip>
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          <isin value="US01883LAA17"/>
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        <curCd>USD</curCd>
        <valUSD>999238.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRUNDAGE-BONE CONCRETE PUMPING HOLDING INC</name>
        <lei>N/A</lei>
        <title>BBCP 7.5 02/01/32 144A</title>
        <cusip>66981QAB2</cusip>
        <identifiers>
          <isin value="US66981QAB23"/>
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        <balance>4245000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sabre GLBL Inc</name>
        <lei>F2TJC7HPPHLHU1AQMP98</lei>
        <title>SABRE GLBL INC</title>
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          <isin value="US78571YBM12"/>
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        <balance>1266815.48500000</balance>
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        <curCd>USD</curCd>
        <valUSD>989699.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-30</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NRG Energy, Inc.</name>
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          <isin value="US629377CX83"/>
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        <balance>2119000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2135893.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Voyager Parent LLC</name>
        <lei>2549002DYVI4ACSV4V71</lei>
        <title>EVRI 9.25 07/01/32 144A</title>
        <cusip>92921EAA0</cusip>
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          <isin value="US92921EAA01"/>
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        <balance>953000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>989417.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ascent Resources Utica Holdings LLC / ARU Finance Corp</name>
        <lei>549300EGLQ2M2CL7JZ89</lei>
        <title>ASCRES 9 11/01/27 144A</title>
        <cusip>04364VAK9</cusip>
        <identifiers>
          <isin value="US04364VAK98"/>
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        <balance>329000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>384104.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Terex Corporation</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>TEX 5 05/15/29 144A</title>
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          <isin value="US880779BA01"/>
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        <balance>1120000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bread Financial Holdings Inc</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BFH 6.75 05/15/31 144A</title>
        <cusip>018581AR9</cusip>
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          <isin value="US018581AR99"/>
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        <balance>1060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1051781.93000000</valUSD>
        <pctVal>0.260078565124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DREYFUS GOVERNMENT CASH MANAGE</name>
        <lei>N/A</lei>
        <title>DREYFUS GOVERNMENT CASH MANAGE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="DGCXX"/>
          <other otherDesc="INTERNAL" value="BYM4G0625"/>
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        <balance>12108570.27000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12108570.27000000</valUSD>
        <pctVal>2.994137369830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="12108570.27000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blackstone Mortgage Trust, Inc</name>
        <lei>549300OLDJ20R2Y2UW20</lei>
        <title>BXMT 7.75 12/01/29 144A</title>
        <cusip>09257WAF7</cusip>
        <identifiers>
          <isin value="US09257WAF77"/>
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        <balance>1017000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1068559.87000000</valUSD>
        <pctVal>0.264227317290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gee Automotive Holdings LLC</name>
        <lei>N/A</lei>
        <title>GEEATO 7.25 03/01/31 144A</title>
        <cusip>36846VAA1</cusip>
        <identifiers>
          <isin value="US36846VAA17"/>
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        <balance>2010000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2016154.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ardonagh Finco Ltd.</name>
        <lei>254900D2T84O1K03BA28</lei>
        <title>ARDGRP 7.75 02/15/31 144A</title>
        <cusip>039853AA4</cusip>
        <identifiers>
          <isin value="US039853AA46"/>
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        <balance>4092000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4139945.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Firstcash Inc</name>
        <lei>549300V2X3UU7K0DG350</lei>
        <title>FCFS 6.875 03/01/32 144A</title>
        <cusip>33767DAD7</cusip>
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          <isin value="US33767DAD75"/>
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        <balance>4606000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4694518.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
        <lei>5299007V1ACKFFX2P066</lei>
        <title>MINAU 8.5 05/01/30 144A</title>
        <cusip>603051AD5</cusip>
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          <isin value="US603051AD53"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>421398.23000000</valUSD>
        <pctVal>0.104200922147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Virtus Asset Trust</ncom:nameOfApplicant>
      <ncom:signature>Amy Hackett</ncom:signature>
      <ncom:signerName>Amy Hackett</ncom:signerName>
      <ncom:title>Vice President and Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
