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      <regCik>0001094521</regCik>
      <regLei>549300KIPK21IOE42X58</regLei>
      <regStreet1>60 State Street</regStreet1>
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      <regZipOrPostalCode>02109</regZipOrPostalCode>
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      <seriesName>Pioneer High Yield Fund</seriesName>
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      <repPdEnd>2020-10-31</repPdEnd>
      <repPdDate>2020-01-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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        <fairValLevel>2</fairValLevel>
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        <name>T/L REGIONALCARE H 0% 11/16/25</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENDO DAC/FIN LLC/F 6% 02/01/25</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEACOR HOLDINGS IN 3% 11/15/28</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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        <name>CLEARWAY ENERGY 5.75% 10/15/25</name>
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        <name>VIRIBUS RE 2018 0% 12/31/21</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>CLEAR CHANNEL W 9.25% 02/15/24</name>
        <lei>N/A</lei>
        <title>CLEAR CHANNEL WORLDWIDE REGD 144A P/P 9.25000000</title>
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        <balance>2598000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>TRPTY TORONTO D 1.58% 02/03/20</name>
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          <other otherDesc="INTERNAL" value="336QWW"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SINCLAIR TELEVIS 5.5% 03/01/30</name>
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        <cusip>829259AY6</cusip>
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          <isin value="US829259AY67"/>
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        <curCd>USD</curCd>
        <valUSD>3773025.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMPLIFY ENERGY CORP</name>
        <lei>J0TW5YQRAZXYN7VEU787</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>T/L BUILDERS FIRST 0% 02/29/24</name>
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          <other otherDesc="LOANX" value="LX159595"/>
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        <name>SUNCOKE ENRGY PA 7.5% 06/15/25</name>
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        <name>SPRINT CORP 7.25% 09/15/21</name>
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        <name>OASIS PETROLEU 2.625% 09/15/23</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ARTEX SAC LIMITED MERION RE</name>
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        <invCountry>BM</invCountry>
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      <invstOrSec>
        <name>PANGAEA RE 2018-1 0% 12/31/21</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>PARSLEY ENERGY  5.25% 08/15/25</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>TENET HEALTHCA 5.125% 11/01/27</name>
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      <invstOrSec>
        <name>BUILDERS FIRSTS 6.75% 06/01/27</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>BAUSCH HEALTH AM 8.5% 01/31/27</name>
        <lei>N/A</lei>
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        <cusip>91911XAW4</cusip>
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          <isin value="US91911XAW48"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEAZER HOMES U 5.875% 10/15/27</name>
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        <cusip>07556QBR5</cusip>
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        <name>F-BRASILE SPA/ 7.375% 08/15/26</name>
        <lei>N/A</lei>
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        <invCountry>IT</invCountry>
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      <invstOrSec>
        <name>CENTURYLINK INC 5.8% 03/15/22</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
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        <cusip>156700AS5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVATION CAPITAL  6.5% 05/15/21</name>
        <lei>N/A</lei>
        <title>AVATION CAPITAL SA REGD 144A P/P MTN 6.50000000</title>
        <cusip>05351CAA5</cusip>
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        <invCountry>LU</invCountry>

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        <name>T/L ENCINO ACQU 0% 10/29/25</name>
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        <name>BAUSCH HEALTH COS  5% 01/30/28</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
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        <name>VIKING CRUISES  6.25% 05/15/25</name>
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        <name>INSMED INC 1.75% 01/15/25</name>
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      <invstOrSec>
        <name>SCIENTIFIC GAME 7.25% 11/15/29</name>
        <lei>N/A</lei>
        <title>SCIENTIFIC GAMES INTERNA REGD 144A P/P 7.25000000</title>
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          <isin value="US80874YBE95"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BUILDERS FIRST 5.625% 09/01/24</name>
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      <invstOrSec>
        <name>GMAT 2013-1A M V/R 11/25/43</name>
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        <name>UBS GROUP AG V/R /PERP/</name>
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        <name>PENN NATIONAL  5.625% 01/15/27</name>
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        <name>TALEN ENERGY SU 7.25% 05/15/27</name>
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      <invstOrSec>
        <name>COVANTA HOLDING CO 6% 01/01/27</name>
        <lei>40XIFLS8XDQGGHGPGC04</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PANGAEA 2015-2 0% 05/29/20</name>
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        <cusip>N/A</cusip>
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        <valUSD>8647.10000000</valUSD>
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        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>ALBERTSONS COS/S 7.5% 03/15/26</name>
        <lei>N/A</lei>
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        <cusip>013092AA9</cusip>
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      <invstOrSec>
        <name>US T BILL ZCP 02/18/20</name>
        <lei>N/A</lei>
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          <isin value="US912796WT21"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENESIS ENERGY  6.25% 05/15/26</name>
        <lei>N/A</lei>
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          <isin value="US37185LAK89"/>
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        <name>ASHTEAD CAPITAL 4.25% 11/01/29</name>
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        <name>T/L ALLIANCE HEAL 0% 10/24/23</name>
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        <name>NATIONSTAR MTG 9.125% 07/15/26</name>
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        <name>SIMMONS FOODS I 5.75% 11/01/24</name>
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        <name>WELLS FARGO &amp; COMPANY /PFD/CV</name>
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        <cusip>192108BB3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INGLES MARKETS  5.75% 06/15/23</name>
        <lei>549300XH5RYBMYP8TF26</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GREAT WST PTRLM/GR 9% 09/30/21</name>
        <lei>N/A</lei>
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          <isin value="US39143GAA85"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARTEX SAC LIMITED 0% 12/31/21</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>GFL ENVIRONMEN 5.125% 12/15/26</name>
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        <name>MPT OPER PARTN 4.625% 08/01/29</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JC PENNEY CORP 5.875% 07/01/23</name>
        <lei>N/A</lei>
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        <cusip>708160CB0</cusip>
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          <isin value="US708160CB09"/>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED RENTALS N 6.5% 12/15/26</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 6.50000000</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ALBERTSONS COS/ 5.75% 03/15/25</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CF INDUSTRIES  5.375% 03/15/44</name>
        <lei>N/A</lei>
        <title>CF INDUSTRIES INC REGD 5.37500000</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAUSCH HEALTH CO 5.5% 11/01/25</name>
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        <cusip>91911KAN2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T-MOBILE USA INC 6% 04/15/24</name>
        <lei>N/A</lei>
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          <isin value="US87264AAQ85"/>
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        <name>KILIMANJARO II RE V/R 04/20/21</name>
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        <name>ALBERTSONS COS 4.875% 02/15/30</name>
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      <invstOrSec>
        <name>GW B-CR SECURITY 9.5% 11/01/27</name>
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        <name>CROWN CORK &amp; S 7.375% 12/15/26</name>
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        <name>ARTEX SAC LTD CAR V/R 12/31/17</name>
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        <name>KINGSBARN 2017 0.0% 05/19/20</name>
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        <name>ALLIANCE DATA S 4.75% 12/15/24</name>
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        <name>ARTEX SAC LTD V/R% 12/31/22</name>
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        <name>SCIENTIFIC GAMES I 5% 10/15/25</name>
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        <name>NATIONSTAR MTG 8.125% 07/15/23</name>
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        <name>ARTEX SAC LIMITED V/R 02/28/20</name>
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        <name>GFL ENVIRONMEN 5.375% 03/01/23</name>
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        <name>ARTEX SAC LTD V/R 12/31/22</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T/L ASBURY AUTOMOT 0% 12/11/20</name>
        <lei>N/A</lei>
        <title>T/L ASBURY AUTOMOTIVE REGD 0.00000000</title>
        <cusip>N/A</cusip>
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          <other otherDesc="INTERNAL" value="336QMB"/>
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        <curCd>USD</curCd>
        <valUSD>5740000.00000000</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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      <invstOrSec>
        <name>CONTURA ENERGY WT EX 7/25/23</name>
        <lei>N/A</lei>
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          <isin value="US21241B1180"/>
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        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>CONTURA ENERGY INC </counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>CONTURA ENERGY INC</issuerName>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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      <invstOrSec>
        <name>PATRICK INDUSTRI 7.5% 10/15/27</name>
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          <isin value="US703343AC76"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TITAN INTERNATIO 6.5% 11/30/23</name>
        <lei>54930043H7SFLNS88586</lei>
        <title>TITAN INTERNATIONAL INC REGD SER WI 6.50000000</title>
        <cusip>88830MAK8</cusip>
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          <isin value="US88830MAK80"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BCPE CYCLE ME 10.625% 07/15/27</name>
        <lei>N/A</lei>
        <title>BCPE CYCLE MERGER SUB II REGD 144A P/P 10.62500000</title>
        <cusip>07335BAA4</cusip>
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          <isin value="US07335BAA44"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>HERC HOLDINGS IN 5.5% 07/15/27</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HERC HOLDINGS INC REGD 144A P/P 5.50000000</title>
        <cusip>42704LAA2</cusip>
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          <isin value="US42704LAA26"/>
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        <balance>3973000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4150593.10000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WPX ENERGY INC 8.25% 08/01/23</name>
        <lei>ZXZE9GCS2BB547GJW219</lei>
        <title>WPX ENERGY INC REGD 8.25000000</title>
        <cusip>98212BAG8</cusip>
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          <isin value="US98212BAG86"/>
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        <balance>383000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441886.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IBRD V/R 02/14/20</name>
        <lei>N/A</lei>
        <title>INTERNATIONAL BANK FOR RECONSTRUCTION &amp; DEVELOPMENT V/R SER GDIF 9.95988000</title>
        <cusip>U4586FSH1</cusip>
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          <isin value="XS1761706891"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>350070.00000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>TRPTY RBC DOMIN 1.59% 02/03/20</name>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="336QWT"/>
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        <curCd>USD</curCd>
        <valUSD>6000000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PANGAEA 2017-1 V/R 11/30/21</name>
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        <fairValLevel>3</fairValLevel>
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        <name>TARGA RESOURCES  6.5% 07/15/27</name>
        <lei>N/A</lei>
        <title>TARGA RESOURCES PARTNERS REGD 144A 6.50000000</title>
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          <isin value="US87612BBL53"/>
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      <invstOrSec>
        <name>UBS GROUP AG V/R /PERP/</name>
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        <title>UBS GROUP AG REGD V/R /PERP/ REG S SER . 7.12500000</title>
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        <name>TRPTY TORONTO D 1.57% 02/03/20</name>
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          <other otherDesc="INTERNAL" value="336QWY"/>
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      <invstOrSec>
        <name>DEALER TIRE LLC/DT 8% 02/01/28</name>
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      <invstOrSec>
        <name>AMERICAN AXLE &amp; 6.25% 03/15/26</name>
        <lei>N/A</lei>
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        <name>LIMESTONE RE LTD ZCP 08/31/21</name>
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      <invstOrSec>
        <name>IRON MOUNTAIN  4.875% 09/15/27</name>
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        <name>SOTHEBY'S 7.375% 10/15/27</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>MDC PARTNERS INC 6.5% 05/01/24</name>
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        <name>PANGAEA 2016-2 0% 11/30/20</name>
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        <name>FRONTIER COMMUN 8.75% 04/15/22</name>
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        <name>TRANSOCEAN SEN 5.375% 05/15/23</name>
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        <name>SHELF DRILL HOL 8.25% 02/15/25</name>
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        <name>GMSL 2004-A B1 5.25% 11/25/32</name>
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        <name>DELEK LOG PART/ 6.75% 05/15/25</name>
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        <name>ARDAGH PKG FIN/HLD 6% 02/15/25</name>
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        <name>PANGAEA RE SERIE 0% 11/30/20</name>
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        <name>ST. ANDREWS 2017-4 0% 06/01/20</name>
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        <name>SELECT MEDICAL  6.25% 08/15/26</name>
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        <name>DIAMOND SPORTS 6.625% 08/15/27</name>
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        <name>GALILEI RE LTD V/R 01/08/21</name>
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        <name>KANE SAC - CARNOU V/R 11/30/20</name>
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        <name>BAUSCH HEALTH CO 6.5% 03/15/22</name>
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        <name>PORTRUSH2017 0% 6/15/20</name>
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        <name>BOMBARDIER INC 6% 10/15/22</name>
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        <name>BACM 2007-4 H V/R 02/10/51</name>
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        <name>OASIS PETROLEU 6.875% 03/15/22</name>
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        <name>SCHWEITZER-MAU 6.875% 10/01/26</name>
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        <name>T/L TEAM HEALTH 0% 02/06/24</name>
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        <name>IBRD V/R 07/15/20</name>
        <lei>N/A</lei>
        <title>INTERNATIONAL BANK FOR RECONSTRUCTION &amp; DEVELOPMENT V/R SER B 12.97250000</title>
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        <issuerCat>USGA</issuerCat>
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        <name>GLOBAL PART/GLP FI 7% 06/15/23</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TEVA PHARM FIN  0.25% 02/01/26</name>
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          <isin value="US88163VAE92"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
              <name>TEVA PHARMACEUTICAL-SP ADR</name>
              <title>TEVA PHARMACEUTICAL-SP ADR</title>
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        <name>T-MOBILE USA I 5.125% 04/15/25</name>
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          <isin value="US87264AAS42"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>SM ENERGY CO 6.125% 11/15/22</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <cusip>78454LAK6</cusip>
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          <isin value="US78454LAK61"/>
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        <curCd>USD</curCd>
        <valUSD>262350.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SPRINGLEAF FIN 5.375% 11/15/29</name>
        <lei>N/A</lei>
        <title>SPRINGLEAF FINANCE CORP REGD 5.37500000</title>
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          <isin value="US85172FAR01"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1195885.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED RENTALS  5.25% 01/15/30</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 5.25000000</title>
        <cusip>911365BL7</cusip>
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          <isin value="US911365BL76"/>
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        <balance>450000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>483075.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLOUCESTER RE 2019 0% 2/28/20</name>
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        <title>GLOUCESTER RE 2019 ZCP REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="331TV4"/>
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        <balance>225000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>229950.57000000</valUSD>
        <pctVal>0.030680860332</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GALILEI RE LTD V/R 01/08/21</name>
        <lei>N/A</lei>
        <title>GALILEI RE LTD REGD V/R 144A P/P SER * 8.35425000</title>
        <cusip>363543AH2</cusip>
        <identifiers>
          <isin value="US363543AH23"/>
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        <balance>600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>598800.00000000</valUSD>
        <pctVal>0.079894123190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.35425000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARTEX SAC LTD 0% 2/1/21</name>
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        <title>ARTEX SAC LTD FORMERLY KANE  SAC LTD ARLINGTON 2015 ZCP  REGD /BNR1QGF08/ 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CLIENT ID" value="BNR1QGF08"/>
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        <balance>1000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48600.00000000</valUSD>
        <pctVal>0.006484392763</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CYPRESS 2017 0% 1/10/21</name>
        <lei>N/A</lei>
        <title>CYPRESS 2017 ARTEX SAC LIMITED ZCP /BNR310MG3//931DSKII4/ 0.00000000</title>
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          <other otherDesc="CLIENT ID" value="BNR310MG3"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18200.00000000</valUSD>
        <pctVal>0.002428311693</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SM ENERGY CO 6.75% 09/15/26</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM ENERGY CO REGD 6.75000000</title>
        <cusip>78454LAN0</cusip>
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        <balance>4606000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNCREON GROUP WT EX 10/01/24</name>
        <lei>N/A</lei>
        <title>SYNCREON GROUP WARRANTS EXP 10/01/2024 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="334V0M"/>
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        <balance>17624.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>N/A</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
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                <issuerName>CHESAPEAKE ENE 6.625% 08/15/20</issuerName>
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        <name>OPTION CARE HEALTH INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GFL ENVIRONMENTAL  7% 06/01/26</name>
        <lei>549300FYK4MBXWIVZU26</lei>
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        <cusip>44485HAA2</cusip>
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          <isin value="US44485HAA23"/>
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        <curCd>USD</curCd>
        <valUSD>588843.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ISTAR INC 4.25% 08/01/25</name>
        <lei>QFFLKWYYS3UPWD86E794</lei>
        <title>ISTAR INC REGD 4.25000000</title>
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          <isin value="US45031UCG40"/>
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        <balance>1780000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1788900.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US15135BAL53"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OCI NV 5.25% 11/01/24</name>
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          <isin value="US67091GAC78"/>
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        <curCd>USD</curCd>
        <valUSD>988800.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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      <invstOrSec>
        <name>LEVEL 3 FINANC 5.375% 05/01/25</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US527298BH52"/>
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        <curCd>USD</curCd>
        <valUSD>490437.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENESIS ENERGY L 6.5% 10/01/25</name>
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          <isin value="US37185LAJ17"/>
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        <valUSD>2135250.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WOLVERINE ESCROW 8.5% 11/15/24</name>
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        <cusip>97789LAC0</cusip>
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          <isin value="US97789LAC00"/>
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        <balance>6350000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRPTY BANK OF N 1.58% 02/03/20</name>
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        <cusip>N/A</cusip>
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        <curCd>USD</curCd>
        <valUSD>3500000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <invstCat>AMBS</invstCat>
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      <invstOrSec>
        <name>RESIDENTIAL RE 20 V/R 12/06/20</name>
        <lei>N/A</lei>
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        <cusip>76118GAE3</cusip>
        <identifiers>
          <isin value="US76118GAE35"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>982700.00000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HERTZ CORP 7.125% 08/01/26</name>
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        <cusip>428040CY3</cusip>
        <identifiers>
          <isin value="US428040CY37"/>
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        <balance>1950000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2071875.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HARAMBEE RE 2019 0.0% 12/31/22</name>
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          <other otherDesc="CLIENT ID" value="BNR48WAE2"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>AMERICAN MIDSTRE 9.5% 12/15/21</name>
        <lei>N/A</lei>
        <title>AMERICAN MIDSTREAM PTR/F REGD 144A P/P 9.50000000</title>
        <cusip>02753GAA7</cusip>
        <identifiers>
          <isin value="US02753GAA76"/>
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        <balance>4663000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4651342.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-15</maturityDt>
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      <invstOrSec>
        <name>AKAMAI TECHNOL 0.125% 05/01/25</name>
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            <dbtSecRefInstrument>
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              <title>AKAMAI TECHNOLOGIES INC</title>
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        <name>FIRST QUANTUM  6.875% 03/01/26</name>
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          <isin value="US335934AR67"/>
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      <invstOrSec>
        <name>TRANSOCEAN INC 7.25% 11/01/25</name>
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          <isin value="US893830BK41"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>TERVITA CORP 7.625% 12/01/21</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US88158UAA60"/>
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        <curCd>USD</curCd>
        <valUSD>3732190.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ARTEX SAC LTD V/R 02/01/21</name>
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        <title>ARTEX SAC LTD DINGLE RE 2019   REGD V/R /BNR4CDDZ9/ 0.00000000</title>
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        <curCd>USD</curCd>
        <valUSD>255131.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OPTION CARE HE WT EX 6/30/25</name>
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          <isin value="US68404L1109"/>
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        <balance>2136.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3225.36000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>SESI LLC 7.75% 09/15/24</name>
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      <invstOrSec>
        <name>BAUSCH HEALTH C 7.25% 05/30/29</name>
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      <invstOrSec>
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        <name>ARTEX SAC LTD FORMERLY KANE</name>
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        <name>INTOW 2016-1A 6.414% 11/15/23</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMMERCIAL MET 5.375% 07/15/27</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS CO REGD 5.37500000</title>
        <cusip>201723AL7</cusip>
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          <isin value="US201723AL70"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1282275.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>PBF LOGISTICS  6.875% 05/15/23</name>
        <lei>N/A</lei>
        <title>PBF LOGISTICS LP/FINANCE REGD SER WI 6.87500000</title>
        <cusip>69318UAB1</cusip>
        <identifiers>
          <isin value="US69318UAB17"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2260500.00000000</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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      <invstOrSec>
        <name>FAGE INTL / FA 5.625% 08/15/26</name>
        <lei>N/A</lei>
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        <cusip>30257WAA4</cusip>
        <identifiers>
          <isin value="US30257WAA45"/>
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        <curCd>USD</curCd>
        <valUSD>3911267.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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      <invstOrSec>
        <name>HORIZON THERAPEU 5.5% 08/01/27</name>
        <lei>N/A</lei>
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        <cusip>44055PAA4</cusip>
        <identifiers>
          <isin value="US44055PAA49"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3787497.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>CREDIT SUISSE GROUP V/R /PERP/</name>
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        <cusip>225401AN8</cusip>
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          <isin value="US225401AN84"/>
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        <curCd>USD</curCd>
        <valUSD>409050.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>COMMSCOPE INC 8.25% 03/01/27</name>
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        <cusip>20338QAA1</cusip>
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          <isin value="US20338QAA13"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLENEAGLES ARTEX SAC LIMITED 2016 ZCP 11/30/2020</name>
        <lei>N/A</lei>
        <title>GLENEAGLES ARTEX SAC LIMITED 2016 ZCP 11/30/2020 BNR28PZR5 0.00000000</title>
        <cusip>N/A</cusip>
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          <other otherDesc="CLIENT ID" value="BNR28PZR5"/>
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        <curCd>USD</curCd>
        <valUSD>74880.00000000</valUSD>
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        <invCountry>BM</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FREEPORT-MCMORA 5.25% 09/01/29</name>
        <lei>549300IRDTHJQ1PVET45</lei>
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        <cusip>35671DCD5</cusip>
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          <isin value="US35671DCD57"/>
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        <curCd>USD</curCd>
        <valUSD>4582380.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>ARTEX SAC LIMITED MERION RE</name>
        <lei>N/A</lei>
        <title>ARTEX SAC LIMITED MERION RE  2018-2 0.00000000</title>
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        <identifiers>
          <other otherDesc="CLIENT ID" value="BNR3MU1B8"/>
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        <balance>900000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>925380.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC 7.5% 04/01/28</name>
        <lei>N/A</lei>
        <title>CSC HOLDINGS LLC REGD P/P 7.50000000</title>
        <cusip>126307AY3</cusip>
        <identifiers>
          <isin value="US126307AY37"/>
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        <balance>2672000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3039934.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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      <invstOrSec>
        <name>ARCHROCK PARTNERS  6% 10/01/22</name>
        <lei>N/A</lei>
        <title>ARCHROCK PARTNERS LP/FIN REGD 6.00000000</title>
        <cusip>30227CAD9</cusip>
        <identifiers>
          <isin value="US30227CAD92"/>
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        <balance>2635000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2638293.75000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ARTEX SAC LTD ST A 0% 2/1/21</name>
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          <other otherDesc="CLIENT ID" value="BNR30QCG8"/>
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        <invCountry>BM</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLOBAL AIR LEASE 6.5% 09/15/24</name>
        <lei>N/A</lei>
        <title>GLOBAL AIR LEASE CO LTD REGD 144A P/P 6.50000000</title>
        <cusip>37960JAA6</cusip>
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          <isin value="US37960JAA60"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED RENTALS N 5.5% 05/15/27</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 5.50000000</title>
        <cusip>911365BF0</cusip>
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          <isin value="US911365BF09"/>
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        <valUSD>2145846.00000000</valUSD>
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        <name>ARTEX SAC FORM 0.0% 02/28/2021</name>
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        <invCountry>BM</invCountry>
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        <name>WPX ENERGY INC 5.25% 09/15/24</name>
        <lei>ZXZE9GCS2BB547GJW219</lei>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>WORKIVA INC 1.125% 08/15/26</name>
        <lei>529900RTOQ8GRWHY1O58</lei>
        <title>WORKIVA INC REGD 144A P/P CONVERTIBLE 1.12500000</title>
        <cusip>98139AAA3</cusip>
        <identifiers>
          <isin value="US98139AAA34"/>
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        <balance>2025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1888459.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>T/L LEVEL 3 0% 03/01/27</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ANR INC RTS 3/31/23</name>
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2024-06-20</terminationDt>
            <upfrontPmnt>-7457800</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>7835097.98</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>7457800</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>306004.47</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARTEX SAC LTD PAN 0% 2/1/23</name>
        <lei>N/A</lei>
        <title>ARTEX SAC LTD PANGAEA RE       2019-1ZCP REGD /BNR4941C7/ 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CLIENT ID" value="BNR4941C7"/>
        </identifiers>
        <balance>409624.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8535.53000000</valUSD>
        <pctVal>0.001138842159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>FTS INTERNATION 6.25% 05/01/22</name>
        <lei>549300LIZ1UTOOLOZV47</lei>
        <title>FTS INTERNATIONAL INC REGD 6.25000000</title>
        <cusip>30283WAB0</cusip>
        <identifiers>
          <isin value="US30283WAB00"/>
        </identifiers>
        <balance>1961000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1088355.00000000</valUSD>
        <pctVal>0.145212372152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>VISTRA OPERATI 5.625% 02/15/27</name>
        <lei>N/A</lei>
        <title>VISTRA OPERATIONS CO LLC REGD 144A P/P 5.62500000</title>
        <cusip>92840VAB8</cusip>
        <identifiers>
          <isin value="US92840VAB80"/>
        </identifiers>
        <balance>4102000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4266080.00000000</valUSD>
        <pctVal>0.569196260955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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>AMC ENTERTAINME 5.75% 06/15/25</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC ENTERTAINMENT HLDGS REGD SER WI 5.75000000</title>
        <cusip>00165AAH1</cusip>
        <identifiers>
          <isin value="US00165AAH14"/>
        </identifiers>
        <balance>2445000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2176050.00000000</valUSD>
        <pctVal>0.290336684650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>2020-02-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Pioneer High Yield Fund</ncom:nameOfApplicant>
      <ncom:signature>Mark E. Bradley </ncom:signature>
      <ncom:signerName>Mark E. Bradley </ncom:signerName>
      <ncom:title>Treasurer and Chief Accounting and Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
