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        <name>Energizer Holdings Inc</name>
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        <name>Neptune BidCo US Inc.</name>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <name>Citigroup Inc.</name>
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        <name>AMERICAN AIRLINES INC</name>
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        <name>MILLROSE PROPERTIES INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASHTON WOODS USA LLC</name>
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        <name>Rakuten Group Inc.</name>
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        <invCountry>JP</invCountry>
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        <name>Prairie Acquiror LP</name>
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        <title>TGE 9 08/01/29 144A</title>
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        <name>Element Solutions Inc</name>
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        <title>ESI 3.875 09/01/28 144A</title>
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        <name>California Resources Corporation</name>
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        <name>VMED O2 UK Financing I PLC</name>
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        <name>NOVA Chemicals Corp.</name>
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        <name>Rocket Software Inc</name>
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        <title>ROCSOF 9 11/28/28 144A</title>
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        <name>Clearway Energy Operating LLC</name>
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        <name>Voyager Parent LLC</name>
        <lei>2549002DYVI4ACSV4V71</lei>
        <title>EVRI 9.25 07/01/32 144A</title>
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        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>MEDIND 3.875 04/01/29 144A</title>
        <cusip>62482BAA0</cusip>
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        <name>Griffon Corp</name>
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        <name>Acushnet Co</name>
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      <invstOrSec>
        <name>Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp.</name>
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        <name>William Carter Company</name>
        <lei>TGI2A0HXEYNQPU7TYV27</lei>
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          <maturityDt>2031-02-15</maturityDt>
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        <name>Cloud Software Group Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>TIBX 8.25 06/30/32 144A</title>
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      <invstOrSec>
        <name>Delek Logistics Partners LP/ Delek Logistics Finance Corp.</name>
        <lei>549300UVYITDIU51P724</lei>
        <title>DKL 7.375 06/30/33 144A</title>
        <cusip>24665FAE2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-30</maturityDt>
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        <name>LifePoint Health, Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>RGCARE 9.875 08/15/30 144A</title>
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          <maturityDt>2030-08-15</maturityDt>
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        <name>United Air Lines, Inc.</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>UAL 4.625 04/15/29 144A</title>
        <cusip>90932LAH0</cusip>
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        <balance>7887000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Banco Mercantil Del Norte SA Cayman Islands Branch</name>
        <lei>N/A</lei>
        <title>BANORT V8.375 PERP 144a</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>AXL 7.75 10/15/33 144A</title>
        <cusip>02406PBD1</cusip>
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          <isin value="US02406PBD15"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Pagaya US Holding Co. LLC</name>
        <lei>254900M9VGE3HM0OYH17</lei>
        <title>PGY 8.875 08/01/30</title>
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        <balance>5433000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Macys Retail Holdings LLC</name>
        <lei>549300JMONK27O4SQQ19</lei>
        <title>M 7.375 08/01/33 144A</title>
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        <name>Wesco Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WCC 7.25 06/15/28 144A</title>
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        <name>XPLR Infrastructure Operating Partners LP</name>
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        <name>LifePoint Health, Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>RGCARE 11 10/15/30 144A</title>
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        <name>NEXSTAR MEDIA GROUP INC</name>
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        <name>Avis Budget Car Rental LLC/Avis Budget Finance Inc.</name>
        <lei>XN8R4HH1TVC1XOCL5P21</lei>
        <title>CAR 5.75 07/15/27 144A</title>
        <cusip>053773BC0</cusip>
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        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HBAN V6.25 PERP K</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Infinity Natural Resources LLC</name>
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        <name>Avantor Funding Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Forestar Group Inc.</name>
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        <name>NEXSTAR MEDIA GROUP INC</name>
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        <name>Kioxia Holdings Corp.</name>
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        <name>Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp.</name>
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        <title>TEP 7.375 02/15/29 144A</title>
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          <isin value="US87470LAL53"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American National Group Inc.</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>ANGINC V7 12/01/55</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott Ownership Resorts Inc</name>
        <lei>BW4532OH033VURR0IT68</lei>
        <title>VAC 6.5 10/01/33 144A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Freedom Mortgage Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <name>Barclays PLC</name>
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        <name>Bread Financial Holdings Inc</name>
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        <name>VMED O2 UK Financing I PLC</name>
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        <name>1261229 B.C. LTD</name>
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        <name>Carnival Corporation</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>CCL 5.125 05/01/29 144A</title>
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      <invstOrSec>
        <name>Garda World Security Corporation</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>GWCN 8.375 11/15/32 144A</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Connect Finco SARL/Connect US Finco LLC</name>
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        <name>Allied Universal Holdco LLC / Allied Universal Finance Corporation</name>
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        <name>URBI DESARROLLOS URBANOS SAB DE CV</name>
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        <name>Nissan Motor Acceptance Co LLC</name>
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        <name>CLOUD SOFTWARE GROUP HOLDINGS INC</name>
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        <name>Smyrna Ready Mix Concrete LLC</name>
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        <name>CCO HOLDINGS LLC</name>
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        <name>Axalta Coating Systems LLC</name>
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        <title>AXTA 3.375 02/15/29 144A</title>
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        <name>Tenet Healthcare Corporation</name>
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        <name>APH/APH2/APH3 SOMERSET INVESTOR 2 LLC / AQUARIAN INSURANCE HOLDINGS LLC</name>
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        <name>Acrisure Llc / Acrisure Fin Inc</name>
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        <name>McGraw-Hill Education Inc.</name>
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        <name>Digicel International Finance Ltd/DIFL US LLC</name>
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        <name>Virgin Media Finance PLC</name>
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        <name>Iron Mountain Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRM 4.875 09/15/27 144A</title>
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        <name>Ardonagh Finco Ltd.</name>
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        <name>Kioxia Holdings Corp.</name>
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        <name>Delek Logistics Partners LP/ Delek Logistics Finance Corp.</name>
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        <name>Mineral Resources Ltd.</name>
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        <name>XPLR Infrastructure Operating Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRA Group Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Planet Financial Group LLC</name>
        <lei>N/A</lei>
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          <isin value="US72702AAA51"/>
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        <balance>7700000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>PARA 2.9 01/15/27</title>
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        <balance>3768000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Banco Mercantil Del Norte SA Cayman Islands Branch</name>
        <lei>N/A</lei>
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          <isin value="US05971PAE88"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Voltagrid LLC</name>
        <lei>254900R5BEUGIKK1FM03</lei>
        <title>VOLTAG 7.375 11/01/30 144A</title>
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          <isin value="US92874BAA35"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
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        <name>Discovery Global Holdings Inc.</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>WBD 5.05 03/15/42 *</title>
        <cusip>55903VBW2</cusip>
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        <balance>10442000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ziggo Bond Company B.V.</name>
        <lei>213800JYI4P7V5QDOG59</lei>
        <title>ZIGGO 5.125 02/28/30 144a</title>
        <cusip>98953GAD7</cusip>
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          <isin value="US98953GAD79"/>
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        <balance>3588000.00000000</balance>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-28</maturityDt>
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      <invstOrSec>
        <name>White Cap Supply Holdings LLC</name>
        <lei>254900L2N0T6GULCL366</lei>
        <title>WHTCAP 7.375 11/15/30 144A</title>
        <cusip>96467GAC2</cusip>
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          <isin value="US96467GAC24"/>
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        <balance>7374000.00000000</balance>
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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>PENN Entertainment Inc</name>
        <lei>N/A</lei>
        <title>PENN 6.75 04/01/31 144A</title>
        <cusip>707569AY5</cusip>
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        <balance>5910000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>RAVEN ACQUISITION HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>RCM 6.875 11/15/31 144A</title>
        <cusip>75420NAA1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Focus Financial Partners LLC</name>
        <lei>5493007L0E0VKRC2CP39</lei>
        <title>FOCS 6.75 09/15/31 144A</title>
        <cusip>34417VAA5</cusip>
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        <name>CoreWeave Inc.</name>
        <lei>984500511DP2B6186053</lei>
        <title>CRWV 9.25 06/01/30 144A</title>
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        <name>Abpci Direct Lending Fd Clo V Ltd</name>
        <lei>549300R0Z1Q47XRTGO22</lei>
        <title>ACRISU 4.25 02/15/29 144A</title>
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        <name>Macys Retail Holdings LLC</name>
        <lei>549300JMONK27O4SQQ19</lei>
        <title>M 6.125 03/15/32 144A</title>
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        <name>CoreWeave Inc.</name>
        <lei>984500511DP2B6186053</lei>
        <title>CRWV 9 02/01/31 144A</title>
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        <name>Apld Computeco LLC</name>
        <lei>N/A</lei>
        <title>APLD 9.25 12/15/30 144A</title>
        <cusip>00202DAA5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
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        <name>McGraw-Hill Education Inc.</name>
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        <name>Ally Financial Inc.</name>
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        <name>Ford Motor Credit Company LLC</name>
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        <name>CrossCountry Intermediate HoldCo LLC</name>
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        <name>SV RNO Property Owner 1 LLC</name>
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        <name>JEFFERIES FINANCE LLC / JFIN CO-ISSUER CORP</name>
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        <name>Michaels Companies Inc.</name>
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        <name>Freedom Mortgage Holdings LLC</name>
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        <name>Venture Global LNG Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
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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>2028-10-15</maturityDt>
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        <name>HA Sustainable Infrastructure Capital Inc</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HASI V7.125 11/15/56</title>
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        <curCd>USD</curCd>
        <valUSD>4351383.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Advance Auto Parts Inc.</name>
        <lei>529900UCNQ5H9FSL0Y70</lei>
        <title>AAP 7.375 08/01/33 144A</title>
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          <isin value="US00751YAL02"/>
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        <balance>6352000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc.</name>
        <lei>549300FGXN1K3HLB1R50</lei>
        <title>RKT 2.875 10/15/26 144A</title>
        <cusip>77313LAA1</cusip>
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          <isin value="US77313LAA17"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Osaic Holdings Inc.</name>
        <lei>549300XL60BDV6UW5C86</lei>
        <title>ADVGRO 6.75 08/01/32 144A</title>
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          <isin value="US00791GAB32"/>
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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>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>General Motors Financial Company Inc</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GM V5.75 PERP A</title>
        <cusip>37045XCA2</cusip>
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          <isin value="US37045XCA28"/>
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        <balance>11589000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11309893.68000000</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>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>CCO HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>CHTR 5.125 05/01/27 144A</title>
        <cusip>1248EPBT9</cusip>
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          <isin value="US1248EPBT92"/>
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        <balance>2390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2390434.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Discovery Communications, LLC</name>
        <lei>L2Z2MO2EQURH3BREWI15</lei>
        <title>WBD 5 09/20/37 *</title>
        <cusip>25470DBY4</cusip>
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          <isin value="US25470DBY40"/>
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        <balance>6065000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4385569.10000000</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>2037-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CSC Holdings, LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSCHLD 11.25 05/15/28 144A</title>
        <cusip>126307BM8</cusip>
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          <isin value="US126307BM89"/>
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        <balance>4829000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.25000000</annualizedRt>
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      <invstOrSec>
        <name>BLUE RACER MIDSTREAM LLC</name>
        <lei>N/A</lei>
        <title>BLURAC 7 07/15/29 144A</title>
        <cusip>095796AJ7</cusip>
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          <isin value="US095796AJ72"/>
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        <balance>2235000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>PARA V6.375 03/30/62</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-03-30</maturityDt>
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      <invstOrSec>
        <name>Frontier Communications Holdings Llc</name>
        <lei>N/A</lei>
        <title>FYBR 5 05/01/28 144A</title>
        <cusip>35906ABF4</cusip>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>TOUCAN FINCO LTD</name>
        <lei>N/A</lei>
        <title>TOUCAN 9.5 05/15/30 144A</title>
        <cusip>89157UAA5</cusip>
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          <isin value="US89157UAA51"/>
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        <invCountry>JE</invCountry>

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        <name>QUINTIS LTD</name>
        <lei>N/A</lei>
        <title>QINAUS 7.5 10/01/26 144A</title>
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          <isin value="US74877UAA60"/>
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        <name>Post Holdings Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>POST 6.25 10/15/34 144A</title>
        <cusip>737446AX2</cusip>
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        <name>CCO HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>CHTR 4.75 03/01/30 144A</title>
        <cusip>1248EPCD3</cusip>
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          <isin value="US1248EPCD32"/>
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        <balance>9003000.00000000</balance>
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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>2030-03-01</maturityDt>
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        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BACR V9.625 PERP</title>
        <cusip>06738ECN3</cusip>
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        <balance>6508000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7101801.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>SM Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <name>Reworld Holding Corp.</name>
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        <title>CVA 4.875 12/01/29 144A</title>
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      <invstOrSec>
        <name>Specialty Building Products Holdings LLC / SBP Finance Corp.</name>
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        <name>Sunrise Finco I BV</name>
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        <name>K Hovnanian Enterprises Inc</name>
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        <name>E.W. SCRIPPS COMPANY (THE)</name>
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        <name>Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.</name>
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        <name>AVTCAP WARR</name>
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        <name>CMG MEDIA CORP</name>
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        <name>American Builders &amp; Contractors Supply Co., Inc.</name>
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        <title>ABCSUP 4 01/15/28 144A</title>
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        <name>Gen Digital Inc</name>
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        <name>Asurion LLC / Asurion Co-Issuer Inc.</name>
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        <name>Forvia SE</name>
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        <name>1011778 B.C. Unlimited Liability Company / New Red Finance, Inc.</name>
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        <name>CHS/Community Health Systems Inc</name>
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        <name>Brandywine Operating Partnership L.P.</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIRECTV FINANCING LLC</name>
        <lei>N/A</lei>
        <title>DTV 8.875 02/01/30 144A</title>
        <cusip>25461LAB8</cusip>
        <identifiers>
          <isin value="US25461LAB80"/>
        </identifiers>
        <balance>7255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7232760.04000000</valUSD>
        <pctVal>0.490474348571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</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>E.W. Scripps Co.</name>
        <lei>549300U1OW41QPKYW028</lei>
        <title>SSP 9.875 08/15/30 144A</title>
        <cusip>811054AH8</cusip>
        <identifiers>
          <isin value="US811054AH89"/>
        </identifiers>
        <balance>5164000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5019743.74000000</valUSD>
        <pctVal>0.340403321451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.87500000</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>Black Pearl Compute LLC</name>
        <lei>N/A</lei>
        <title>BLKPRL 6.125 02/15/31 144A</title>
        <cusip>09216NAA8</cusip>
        <identifiers>
          <isin value="US09216NAA81"/>
        </identifiers>
        <balance>5032000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5124125.12000000</valUSD>
        <pctVal>0.347481724311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.</name>
        <lei>254900V7LN9S9W17X250</lei>
        <title>VGNT 6.125 04/15/31 144A</title>
        <cusip>23292NAA6</cusip>
        <identifiers>
          <isin value="US23292NAA63"/>
        </identifiers>
        <balance>4674000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4621258.34000000</valUSD>
        <pctVal>0.313380875538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>TreeHouse Foods, Inc.</name>
        <lei>5493007M7EVHE470Q576</lei>
        <title>THS 7.75 02/11/33 144A</title>
        <cusip>456142AA6</cusip>
        <identifiers>
          <isin value="US456142AA68"/>
        </identifiers>
        <balance>9903000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10003699.13000000</valUSD>
        <pctVal>0.678379731521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</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>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HRI 7 06/15/30 144A</title>
        <cusip>42704LAF1</cusip>
        <identifiers>
          <isin value="US42704LAF13"/>
        </identifiers>
        <balance>2651000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2720471.38000000</valUSD>
        <pctVal>0.184483021769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>Global Medical Response Incorporated</name>
        <lei>549300ZFWD4ZFCEJCQ87</lei>
        <title>AIMEGR 7.375 10/01/32 144A</title>
        <cusip>37960BAD7</cusip>
        <identifiers>
          <isin value="US37960BAD73"/>
        </identifiers>
        <balance>4901000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5088998.13000000</valUSD>
        <pctVal>0.345099661663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLF 7.375 05/01/33 144A</title>
        <cusip>185899AR2</cusip>
        <identifiers>
          <isin value="US185899AR28"/>
        </identifiers>
        <balance>8389000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8209735.82000000</valUSD>
        <pctVal>0.556725897996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>Marriott Ownership Resorts Inc</name>
        <lei>BW4532OH033VURR0IT68</lei>
        <title>VAC 4.75 01/15/28</title>
        <cusip>57164PAF3</cusip>
        <identifiers>
          <isin value="US57164PAF36"/>
        </identifiers>
        <balance>1935000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1904649.22000000</valUSD>
        <pctVal>0.129159764774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>Leeward Renewable Energy Operations LLC</name>
        <lei>254900EVJU1A57NUX379</lei>
        <title>LEEREN 4.25 07/01/29 144A</title>
        <cusip>524590AA4</cusip>
        <identifiers>
          <isin value="US524590AA45"/>
        </identifiers>
        <balance>5951000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5556849.94000000</valUSD>
        <pctVal>0.376826044187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>Societe Generale S.A.</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCGEN V8.5 PERP 144A</title>
        <cusip>83370RAD0</cusip>
        <identifiers>
          <isin value="US83370RAD08"/>
        </identifiers>
        <balance>8002000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8541863.02000000</valUSD>
        <pctVal>0.579248402705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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 Networks Inc</name>
        <lei>549300VGG9K75226LR46</lei>
        <title>AMCX 10.5 07/15/32 144A</title>
        <cusip>00164VAK9</cusip>
        <identifiers>
          <isin value="US00164VAK98"/>
        </identifiers>
        <balance>4877000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4813948.62000000</valUSD>
        <pctVal>0.326447759969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</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>Atkore Inc</name>
        <lei>52990002TI38AM4RPV48</lei>
        <title>ATKR 4.25 06/01/31 144A</title>
        <cusip>047649AA6</cusip>
        <identifiers>
          <isin value="US047649AA63"/>
        </identifiers>
        <balance>9327000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8753175.41000000</valUSD>
        <pctVal>0.593578106201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>AMERITEX HOLDCO INTERMEDIATE LLC</name>
        <lei>N/A</lei>
        <title>AMEPIP 7.625 08/15/33 144A</title>
        <cusip>030727AB7</cusip>
        <identifiers>
          <isin value="US030727AB71"/>
        </identifiers>
        <balance>8441000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8705896.93000000</valUSD>
        <pctVal>0.590372015919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</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>Gray Media Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>GTN 10.5 07/15/29 144A</title>
        <cusip>389375AM8</cusip>
        <identifiers>
          <isin value="US389375AM81"/>
        </identifiers>
        <balance>6386000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6796768.46000000</valUSD>
        <pctVal>0.460908500264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-21</ncom:dateSigned>
      <ncom:nameOfApplicant>RBC Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>Kathy Hegna </ncom:signature>
      <ncom:signerName>Kathy Hegna </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer - RBC Funds, and Director of Mutual Fund Services | RBC Global Asset Management (U.S.) Inc.</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
