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        <name>Unifin Financiera SAB de CV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ascent Resources Utica Holdings LLC</name>
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        <name>KB Home</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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      <invstOrSec>
        <name>Gruenenthal GmbH</name>
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          <isin value="XS2337703610"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.84299262"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US Acute Care Solutions LLC</name>
        <lei>N/A</lei>
        <title>US Acute Care Solutions LLC</title>
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          <isin value="US90367UAA97"/>
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        <curCd>USD</curCd>
        <valUSD>135200.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
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      <invstOrSec>
        <name>Grupo Aeromexico, S.A.B. de C.V.</name>
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          <other otherDesc="Inhouse Asset ID" value="LX189587"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-31</maturityDt>
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      <invstOrSec>
        <name>Sotheby's</name>
        <lei>549300P5BAAMQQ7VL735</lei>
        <title>Sotheby's</title>
        <cusip>835898AH0</cusip>
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          <isin value="US835898AH05"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>400556.25000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>HCRX Investments Holdco LP</name>
        <lei>N/A</lei>
        <title>HCRX Investments Holdco LP</title>
        <cusip>40390FAA8</cusip>
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          <isin value="US40390FAA84"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>229500.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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          <isin value="US043436AV64"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105875.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Exterran Energy Solutions LP</name>
        <lei>N/A</lei>
        <title>Exterran Energy Solutions LP</title>
        <cusip>30227KAE9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verint Systems, Inc.</name>
        <lei>549300KEQJS5FRVUCO94</lei>
        <title>Verint Systems, Inc.</title>
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        <balance>275000.00000000</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>2026-04-15</maturityDt>
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          <annualizedRt>0.25000000</annualizedRt>
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              <title>Verint Systems, Inc.</title>
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      <invstOrSec>
        <name>Virgin Media Vendor Financing Notes III DAC</name>
        <lei>635400SSKC2QCGEPIQ43</lei>
        <title>Virgin Media Vendor Financing Notes III DAC</title>
        <cusip>92771EAA1</cusip>
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          <isin value="XS2187651497"/>
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        <invCountry>IE</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.87500000</annualizedRt>
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        <name>Banco Mercantil del Norte SA</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA</title>
        <cusip>05971PAC2</cusip>
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        <balance>475000.00000000</balance>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-14</maturityDt>
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          <annualizedRt>8.37500040</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NCL Finance Ltd.</name>
        <lei>N/A</lei>
        <title>NCL Finance Ltd.</title>
        <cusip>62888HAA7</cusip>
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          <isin value="US62888HAA77"/>
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        <balance>110000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>P&amp;L Development LLC</name>
        <lei>N/A</lei>
        <title>P&amp;L Development LLC</title>
        <cusip>69306RAA4</cusip>
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          <isin value="US69306RAA41"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>329175.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>M/I Homes, Inc.</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>M/I Homes, Inc.</title>
        <cusip>55305BAS0</cusip>
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          <isin value="US55305BAS07"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>476840.00000000</valUSD>
        <pctVal>0.392805498030</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>APX Group, Inc.</name>
        <lei>549300OMQVKPRU98OE64</lei>
        <title>APX Group, Inc.</title>
        <cusip>00213MAV6</cusip>
        <identifiers>
          <isin value="US00213MAV63"/>
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        <balance>295000.00000000</balance>
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        <name>Mohegan Gaming &amp; Entertainment</name>
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        <name>MEG Energy Corp.</name>
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        <name>TMS International Corp.</name>
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        <name>Grupo Antolin-Irausa SA</name>
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        <name>Ceridian HCM Holding, Inc.</name>
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        <name>Sovcombank</name>
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        <name>Dycom Industries, Inc.</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Total Play Telecomunicaciones SA de CV</name>
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        <name>Western Global Airlines LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allied Universal Holdco LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Neptune Energy Bondco plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Party City Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kraton Polymers LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CommScope, Inc.</name>
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        <title>CommScope, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
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        <name>Carnival Corp.</name>
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        <invCountry>PA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>Venture Global Calcasieu Pass LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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      <invstOrSec>
        <name>Belden, Inc.</name>
        <lei>68BKYO1JC791TTJHUE82</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
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      <invstOrSec>
        <name>Calpine Corp.</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
        <title>Calpine Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>263250.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ContourGlobal Power Holdings SA</name>
        <lei>549300O5AGIFK0PQ1516</lei>
        <title>ContourGlobal Power Holdings SA</title>
        <cusip>N/A</cusip>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CSC Holdings LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United Wholesale Mortgage LLC</name>
        <lei>549300HW662MN1WU8550</lei>
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        <invCountry>US</invCountry>
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        <name>Sasol Financing USA LLC</name>
        <lei>549300XRB1PFMESFEL85</lei>
        <title>Sasol Financing USA LLC</title>
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        <invCountry>US</invCountry>

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        <name>AMC Entertainment Holdings, Inc.</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC Entertainment Holdings, Inc.</title>
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        <name>L Brands, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>L Brands, Inc.</title>
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        <name>Ziggo Bond Co. BV</name>
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        <title>Ziggo Bond Co. BV</title>
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        <invCountry>NL</invCountry>
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      <invstOrSec>
        <name>CQP Holdco LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freedom Mortgage Corp.</name>
        <lei>549300LYRWPSYPK6S325</lei>
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          <isin value="US35640YAA55"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Metinvest BV</name>
        <lei>635400TMCKVEU87EJ582</lei>
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        <curCd>USD</curCd>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Scientific Games International, Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
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          <isin value="XS1766775461"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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      <invstOrSec>
        <name>Strathcona Resources Ltd.</name>
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          <isin value="US86304TAA60"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Renewable Energy Group, Inc.</name>
        <lei>549300HPU3BD8ZI0X358</lei>
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          <isin value="US75972AAD54"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Precision Drilling Corp.</name>
        <lei>549300WF2OE8T5BP4B84</lei>
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          <isin value="US740212AM74"/>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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      <invstOrSec>
        <name>Altice France Holding SA</name>
        <lei>5299000JVHXKJPOE6H40</lei>
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          <isin value="US02156TAA25"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Genesis Energy LP</name>
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          <isin value="US37185LAM46"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
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      <invstOrSec>
        <name>SpA Holdings 3 Oy</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deuce Finco plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First Brands Group, LLC</name>
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        <name>Trinseo Materials Operating SCA</name>
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        <name>Global Aircraft Leasing Co. Ltd.</name>
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        <name>APCOA Parking Holdings GmbH</name>
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        <name>Nielsen Finance LLC</name>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
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      <invstOrSec>
        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
        <cusip>670001AE6</cusip>
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        <balance>445000.00000000</balance>
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      <invstOrSec>
        <name>Light Servicos de Eletricidade SA</name>
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      <invstOrSec>
        <name>Minerva Luxembourg SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>International Game Technology plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
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      <invstOrSec>
        <name>FTS International, Inc.</name>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
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        <curCd>USD</curCd>
        <valUSD>603358.05000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>PBF Holding Co. LLC</name>
        <lei>N/A</lei>
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          <isin value="US69318FAG37"/>
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        <balance>605000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>363000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>N/A</lei>
        <title>PG&amp;E Corp., Term Loan</title>
        <cusip>69338CAH4</cusip>
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          <isin value="US69338CAH43"/>
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        <curCd>USD</curCd>
        <valUSD>0.01000000</valUSD>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Air Canada</name>
        <lei>4B4HI3CGXMBDC0G6BM51</lei>
        <title>Air Canada</title>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85204.00000000</valUSD>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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      <invstOrSec>
        <name>SierraCol Energy Andina LLC</name>
        <lei>N/A</lei>
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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>2028-06-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Pinnacle Bidco plc</name>
        <lei>2138006Z5V8OBL2A2Q06</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Venture Global Calcasieu Pass LLC</name>
        <lei>549300GKHS6RS20NLH85</lei>
        <title>Venture Global Calcasieu Pass LLC</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-08-15</maturityDt>
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      <invstOrSec>
        <name>Switch Ltd.</name>
        <lei>5493002D70VTFFLT8L43</lei>
        <title>Switch Ltd.</title>
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          <isin value="US87105NAC48"/>
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        <name>US Renal Care, Inc.</name>
        <lei>54930058SS5MF69JGN89</lei>
        <title>US Renal Care, Inc.</title>
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        <name>MC Brazil Downstream Trading SARL</name>
        <lei>213800T2A7R9TYNXZI63</lei>
        <title>MC Brazil Downstream Trading SARL</title>
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        <name>N/A</name>
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        <name>CSC Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Beazer Homes USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aethon United BR LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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      <invstOrSec>
        <name>Intertape Polymer Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enphase Energy, Inc.</name>
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        <title>Enphase Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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              <title>Enphase Energy, Inc.</title>
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        <name>Aragvi Finance International DAC</name>
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        <title>Aragvi Finance International DAC</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VistaJet Malta Finance plc</name>
        <lei>N/A</lei>
        <title>VistaJet Malta Finance plc</title>
        <cusip>92840JAA7</cusip>
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        <balance>646000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-01</maturityDt>
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          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>Spectacle Gary Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Spectacle Gary Holdings, LLC, Term Loan</title>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Baytex Energy Corp.</name>
        <lei>549300R5LTV2H7I1I079</lei>
        <title>Baytex Energy Corp.</title>
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        <balance>900000.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Jefferies Finance LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NH Hotel Group SA</name>
        <lei>959800LM1RW3PKJ4A296</lei>
        <title>NH Hotel Group SA</title>
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        <name>Commercial Metals Co.</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>Commercial Metals Co.</title>
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        <name>Boparan Finance plc</name>
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        <name>Taylor Morrison Communities, Inc.</name>
        <lei>549300O1Z08HI2MRK572</lei>
        <title>Taylor Morrison Communities, Inc.</title>
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      <invstOrSec>
        <name>Wheel Bidco Ltd.</name>
        <lei>213800GGDN5YSVU1G348</lei>
        <title>Wheel Bidco Ltd.</title>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Ivanhoe Mines Ltd.</name>
        <lei>5299006XZISURYIA4G32</lei>
        <title>Ivanhoe Mines Ltd.</title>
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        <balance>195000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DraftKings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
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      <invstOrSec>
        <name>FAGE International SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Archrock Partners LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>International Game Technology plc</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Surgery Center Holdings, Inc.</name>
        <lei>54930054EVI5HWPPW113</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Provident Funding Associates LP</name>
        <lei>N/A</lei>
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          <isin value="US74387UAJ07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-15</maturityDt>
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      <invstOrSec>
        <name>Fidelity Money Market Government Portfolio</name>
        <lei>549300FQDFZGLUOCWN51</lei>
        <title>Fidelity Money Market Government Portfolio</title>
        <cusip>31607A703</cusip>
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          <isin value="US31607A7037"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
        <lei>N/A</lei>
        <title>American Airlines, Inc.</title>
        <cusip>00253XAA9</cusip>
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          <isin value="US00253XAA90"/>
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        <curCd>USD</curCd>
        <valUSD>188325.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Shelf Drilling Holdings Ltd.</name>
        <lei>54930078ZJ3XP4MRYB68</lei>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Delek Logistics Partners LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alliance Data Systems Corp.</name>
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        <title>Alliance Data Systems Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Gol Finance SA</name>
        <lei>5299007RH8MA67ZC6J07</lei>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Akbank T.A.S.</name>
        <lei>789000TUMN63Z28TJ497</lei>
        <title>Akbank T.A.S.</title>
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        <name>Prime Healthcare Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>News Corp.</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>News Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="40925"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Brown Brothers Harriman &amp; Co.</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Viking Ocean Cruises Ship VII Ltd.</name>
        <lei>N/A</lei>
        <title>Viking Ocean Cruises Ship VII Ltd.</title>
        <cusip>92682RAA0</cusip>
        <identifiers>
          <isin value="US92682RAA05"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CoreLogic, Inc.</name>
        <lei>54930086CD8K2UIL0516</lei>
        <title>CoreLogic, Inc.</title>
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          <isin value="US21871DAD57"/>
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        <balance>720000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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      <invstOrSec>
        <name>Staples, Inc.</name>
        <lei>XQM2JINI1UL7642TU573</lei>
        <title>Staples, Inc.</title>
        <cusip>855030AN2</cusip>
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          <isin value="US855030AN20"/>
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        <balance>246000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249690.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hexion, Inc.</name>
        <lei>54930030FZF8HYAEHM46</lei>
        <title>Hexion, Inc.</title>
        <cusip>42829LAF1</cusip>
        <identifiers>
          <isin value="US42829LAF13"/>
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        <balance>281000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302075.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mobilux Finance SAS</name>
        <lei>9695002JF900PZD9TO50</lei>
        <title>Mobilux Finance SAS</title>
        <cusip>N/A</cusip>
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          <isin value="XS2357738058"/>
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        <balance>410000.00000000</balance>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Frigorifico Concepcion SA</name>
        <lei>529900Q6VZVL47QJCQ91</lei>
        <title>Frigorifico Concepcion SA</title>
        <cusip>358648AA1</cusip>
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          <isin value="US358648AA16"/>
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        <balance>745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>773868.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASG Finance Designated Activity Co.</name>
        <lei>5493005UOB0OMEJ4WK10</lei>
        <title>ASG Finance Designated Activity Co.</title>
        <cusip>00217AAA4</cusip>
        <identifiers>
          <isin value="US00217AAA43"/>
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        <balance>860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>829900.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SunCoke Energy, Inc.</name>
        <lei>1KF1J2NXQE2PI0QOB943</lei>
        <title>SunCoke Energy, Inc.</title>
        <cusip>86722AAD5</cusip>
        <identifiers>
          <isin value="US86722AAD54"/>
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        <balance>455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>458412.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>
        <name>Cidron Aida Finco Sarl</name>
        <lei>98450036A07991DEBF10</lei>
        <title>Cidron Aida Finco Sarl</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2325700081"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84299262"/>
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        <pctVal>0.162446409024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Spectacle Gary Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Spectacle Gary Holdings, LLC, Term Loan</title>
        <cusip>84752PAC2</cusip>
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          <isin value="US84752PAC23"/>
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        <balance>1185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1288687.50000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
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      <invstOrSec>
        <name>Freedom Mortgage Corp.</name>
        <lei>549300LYRWPSYPK6S325</lei>
        <title>Freedom Mortgage Corp.</title>
        <cusip>35640YAG2</cusip>
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          <isin value="US35640YAG26"/>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>257340.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Gamma Bidco SpA</name>
        <lei>549300JS6XODWD0TZD48</lei>
        <title>Gamma Bidco SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2321539970"/>
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        <balance>400000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Virgin Media Vendor Financing Notes III DAC</name>
        <lei>635400SSKC2QCGEPIQ43</lei>
        <title>Virgin Media Vendor Financing Notes III DAC</title>
        <cusip>92771EAA1</cusip>
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          <isin value="XS2187651497"/>
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        <balance>100000.00000000</balance>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2028-07-15</maturityDt>
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      <invstOrSec>
        <name>Avation Capital SA</name>
        <lei>54930056OEYSV06OMD90</lei>
        <title>Avation Capital SA</title>
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        <invCountry>LU</invCountry>

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      <invstOrSec>
        <name>Dealer Tire LLC</name>
        <lei>N/A</lei>
        <title>Dealer Tire LLC</title>
        <cusip>24229JAA1</cusip>
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          <isin value="US24229JAA16"/>
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        <valUSD>584463.48000000</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>2028-02-01</maturityDt>
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          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
        <lei>5493004T21MOAFINJP35</lei>
        <title>Teva Pharmaceutical Finance Netherlands III BV</title>
        <cusip>88167AAD3</cusip>
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        <balance>940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>929190.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>Windstream Escrow LLC</name>
        <lei>N/A</lei>
        <title>Windstream Escrow LLC</title>
        <cusip>97382WAA1</cusip>
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          <isin value="US97382WAA18"/>
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        <balance>500000.00000000</balance>
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        <name>Constellation Automotive Financing plc</name>
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          <isin value="XS2366652597"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Transportes Aereos Portugueses SA</name>
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          <isin value="PTTAPCOM0006"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aedas Homes Opco SLU</name>
        <lei>959800NRD7BJBYEDBG71</lei>
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          <isin value="XS2343874215"/>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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      <invstOrSec>
        <name>IAMGOLD Corp.</name>
        <lei>254900E7II30XAB9LA72</lei>
        <title>IAMGOLD Corp.</title>
        <cusip>450913AF5</cusip>
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          <isin value="US450913AF55"/>
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        <curCd>USD</curCd>
        <valUSD>438742.50000000</valUSD>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
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      <invstOrSec>
        <name>KBR, Inc.</name>
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        <curCd>USD</curCd>
        <valUSD>398950.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-30</maturityDt>
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      <invstOrSec>
        <name>Mercer International, Inc.</name>
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        <curCd>USD</curCd>
        <valUSD>876125.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Transportes Aereos Portugueses SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OneMain Finance Corp.</name>
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        <name>Galaxy Bidco Ltd.</name>
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        <name>Quatrim SASU</name>
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        <name>Belden, Inc.</name>
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        <name>Par Pharmaceutical, Inc.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Prime Security Services Borrower LLC</name>
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        <name>Lumen Technologies, Inc.</name>
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        <name>Garfunkelux Holdco 3 SA</name>
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        <name>Sensata Technologies BV</name>
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        <name>Danaos Corp.</name>
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        <name>Stoneway Capital Corp.</name>
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        <name>Bentley Systems, Inc.</name>
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        <name>JB Poindexter &amp; Co., Inc.</name>
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        <name>Atkore, Inc.</name>
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        <name>Altice France SA</name>
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        <name>Shelf Drilling Holdings Ltd.</name>
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        <name>Outfront Media Capital LLC</name>
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        <name>Diebold Nixdorf, Inc.</name>
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        <name>Guala Closures SpA</name>
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        <name>Hidrovias International Finance SARL</name>
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      <invstOrSec>
        <name>Scientific Games International, Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
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        <name>Lumen Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMC Entertainment Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Novelis Corp.</name>
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          <isin value="US670001AG19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Beacon Roofing Supply, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ken Garff Automotive LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-15</maturityDt>
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      <invstOrSec>
        <name>First Quantum Minerals Ltd.</name>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="41044"/>
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        <name>Talen Energy Supply LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Allied Universal Holdco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EnLink Midstream Partners LP</name>
        <lei>88CPW63VL7KHJWS0NY83</lei>
        <title>EnLink Midstream Partners LP</title>
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        <invCountry>US</invCountry>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs, Inc.</title>
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        <name>Clearway Energy Operating LLC</name>
        <lei>549300Z3NFMM54NWBB87</lei>
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        <name>Spirit Airlines, Inc.</name>
        <lei>549300DCAFIXFNFR3304</lei>
        <title>Spirit Airlines, Inc.</title>
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              <title>Spirit Airlines, Inc.</title>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <title>Clear Channel Outdoor Holdings, Inc.</title>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Diebold Nixdorf, Inc.</name>
        <lei>549300XZK6EWDBAZSY16</lei>
        <title>Diebold Nixdorf, Inc.</title>
        <cusip>253657AA8</cusip>
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        <balance>55000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LifePoint Health, Inc.</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health, Inc.</title>
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        <balance>100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Greif, Inc.</name>
        <lei>54930070FVGKR0Z1FI24</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>HAT Holdings I LLC</name>
        <lei>N/A</lei>
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          <isin value="US418751AE33"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506690.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>NCR Corp.</name>
        <lei>549300YKTY8JX1DV2R67</lei>
        <title>NCR Corp.</title>
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          <isin value="US62886EAZ16"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126300.00000000</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>2030-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Leeward Renewable Energy Operations LLC</name>
        <lei>N/A</lei>
        <title>Leeward Renewable Energy Operations LLC</title>
        <cusip>524590AA4</cusip>
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          <isin value="US524590AA45"/>
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        <balance>170000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>173400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Summit Hotel Properties, Inc.</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>Summit Hotel Properties, Inc.</title>
        <cusip>866082AA8</cusip>
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          <isin value="US866082AA86"/>
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        <balance>178000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>181115.00000000</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>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Summit Hotel Properties, Inc.</name>
              <title>Summit Hotel Properties, Inc.</title>
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          <currencyInfos>
            <currencyInfo convRatio="83.40283600" curCd="USD"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="41033"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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            <amtCurSold>450000.00000000</amtCurSold>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enterprise Development Authority</name>
        <lei>N/A</lei>
        <title>Enterprise Development Authority, Term Loan B</title>
        <cusip>29372LAC6</cusip>
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          <isin value="US29372LAC63"/>
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        <balance>819625.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>819625.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GOL Equity Finance SA</name>
        <lei>222100H9BH197YU7RY14</lei>
        <title>GOL Equity Finance SA</title>
        <cusip>36256KAA8</cusip>
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          <isin value="US36256KAA88"/>
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        <balance>428000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>379850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Gol Linhas Aereas Inteligentes SA</name>
              <title>Gol Linhas Aereas Inteligentes SA</title>
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          <currencyInfos>
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      <invstOrSec>
        <name>Garfunkelux Holdco 3 SA</name>
        <lei>2221007QVSNJV7EWBX69</lei>
        <title>Garfunkelux Holdco 3 SA</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>ContourGlobal Power Holdings SA</name>
        <lei>549300O5AGIFK0PQ1516</lei>
        <title>ContourGlobal Power Holdings SA</title>
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          <isin value="XS2274815872"/>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
        <lei>N/A</lei>
        <title>Garda World Security Corp.</title>
        <cusip>36485MAL3</cusip>
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          <isin value="US36485MAL37"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>567675.00000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Surgery Center Holdings, Inc.</name>
        <lei>54930054EVI5HWPPW113</lei>
        <title>Surgery Center Holdings, Inc.</title>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <cusip>29273VAM2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Simmons Foods, Inc.</name>
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        <title>Simmons Foods, Inc.</title>
        <cusip>82873MAA1</cusip>
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        <valUSD>591625.60000000</valUSD>
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      <invstOrSec>
        <name>Cidron Aida Finco Sarl</name>
        <lei>98450036A07991DEBF10</lei>
        <title>Cidron Aida Finco Sarl</title>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Auna SAA</name>
        <lei>549300C3XBVL3X4TME11</lei>
        <title>Auna SAA</title>
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        <balance>455000.00000000</balance>
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        <valUSD>467512.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-20</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Insmed, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Insmed, Inc.</title>
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        <name>PBF Holding Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Builders FirstSource, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Transocean Sentry Ltd.</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-15</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Superior Energy Services LLC</name>
        <lei>N/A</lei>
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        <balance>5103.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Nidda Healthcare Holding GmbH</name>
        <lei>549300Q89C4WAO6L0L19</lei>
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          <isin value="XS1690643421"/>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>780153AZ5</cusip>
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          <isin value="US780153AZ50"/>
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        <balance>208000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238160.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gol Finance SA</name>
        <lei>5299007RH8MA67ZC6J07</lei>
        <title>Gol Finance SA</title>
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        <balance>605000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>601975.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>APX Group, Inc.</name>
        <lei>549300OMQVKPRU98OE64</lei>
        <title>APX Group, Inc.</title>
        <cusip>00213MAW4</cusip>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>878517.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Uniti Group LP</name>
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        <title>Uniti Group LP</title>
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        <balance>405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410491.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
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        <curCd>USD</curCd>
        <valUSD>198841.50000000</valUSD>
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        <invCountry>LR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Seaspan Corp.</name>
        <lei>5493007Z8Q1H45KT7W98</lei>
        <title>Seaspan Corp.</title>
        <cusip>81254UAK2</cusip>
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          <isin value="US81254UAK25"/>
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        <balance>220000.00000000</balance>
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        <valUSD>219386.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Seaspan Corp.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Mav Acquisition Corp.</name>
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        <title>Mav Acquisition Corp.</title>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>NCL Corp. Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL Corp. Ltd.</title>
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        <invCountry>BM</invCountry>

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        <name>PowerTeam Services LLC</name>
        <lei>549300J2G34D0WX8Z443</lei>
        <title>PowerTeam Services LLC</title>
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        <balance>960000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Nidda BondCo GmbH</name>
        <lei>391200JPUEK6AMI9PQ76</lei>
        <title>Nidda BondCo GmbH</title>
        <cusip>N/A</cusip>
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      <invstOrSec>
        <name>Hudbay Minerals, Inc.</name>
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        <name>Penske Automotive Group, Inc.</name>
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        <name>Grupo Aeromexico, S.A.B. de C.V.</name>
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        <name>OCI NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Simpar Europe SA</name>
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        <name>Energizer Gamma Acquisition BV</name>
        <lei>5493002SUYZDHEQ3JN34</lei>
        <title>Energizer Gamma Acquisition BV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Constellium SE</name>
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          <isin value="XS2335148701"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
        <lei>N/A</lei>
        <title>Garda World Security Corp.</title>
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          <isin value="US36257BAA70"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Tronox, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rain CII Carbon LLC</name>
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      <invstOrSec>
        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
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        <name>N/A</name>
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                <indexName>Markit CDX North American High Yield Index Series 36-V1</indexName>
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        <name>Verisure Holding AB</name>
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        <name>Hilton Grand Vacations Borrower Escrow LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MDC Partners, Inc.</name>
        <lei>529900SR4J92B5C43M74</lei>
        <title>MDC Partners, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
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          <annualizedRt>7.49999880</annualizedRt>
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      <invstOrSec>
        <name>Cidron Aida Finco Sarl</name>
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        <name>VOC Escrow Ltd.</name>
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        <name>Credito Real SAB de CV SOFOM ER</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harvest Midstream I LP</name>
        <lei>549300DW5M17KJOXCY66</lei>
        <title>Harvest Midstream I LP</title>
        <cusip>417558AA1</cusip>
        <identifiers>
          <isin value="US417558AA18"/>
        </identifiers>
        <balance>531000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>567787.68000000</valUSD>
        <pctVal>0.467725279795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-08-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Nationwide Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>Lee Cummings</ncom:signature>
      <ncom:signerName>Lee Cummings</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
